The Oskaloosa herald., 1905-07-06
BANK IN Topeka
CLOSES ITS DOORS
xAtIuaF or rnr rfRsr MA.
TtoNAL rs ANN0uNcrp.
RECEIVER Is APPOINTED
Institution n SAID 10 Owe neposstora
Total Of $3.50, GOO rhs s7,.
ooo,o 900 Estate 81 c. y Dtvin
Envolved la Failure,

us doors Monday the First national
bank o. Topeka threw Into liquidation
the fT,000,00O estate III 4. j. Dev!lu.
Ia which several Chicago baBas ats
heavily Interested The bank owed
depositors st,800,OO0.
The comptroller IL the currency has
appointed National Bank Examiner ]
4. Bradley receiver Of the bank
There were several hundred deposl
tors In line when the hour for opening
the First national arrived. The bank.
however, did not open. Instead, the
900 or 400 men IN line read on the door
the following notice;
This bank Is closed by my orders
The comptroller of the currency has
been communicated with and will send
an examiner, who will make state.
ment w. II. Rossinstop, Vice Presi-
dent"
Government Agents IN Charge.
The government authorities are nov
making an examination AZ the banks
affairs, but will give our no statement,
According to q recent statement the
First national bank OF Topeka owed
depositors $1,390,Oo0. OF these deposi-
tors the state OF Kansas has over
100000 In deposits, the city OF Topeka
$4,000 and the county Of shawnee
about $4,000 M
MT. Deviins wealth ~ largely ~
coal mining properties in southern
Kansas, In the vicinity Of Marceiine.
Mo-, and In Illinois. These proper.
ties include the following; Mount
Carmel coal mines, Toluca coal mines
the Marquette Third Vein mines, the
Deylin Coal cqp1pany the DeYiin.
Miller Coal COMPANY the Crawford
County Mining company, the Pittsburg
and Midway Coal company, the Kansas
City Coal and Coke company, the
Southwestern Fuel company, the Wiley
Coal company and the Mafceline Coal
company.
Try TO Save Bank.
Less than ~ hours previous 10 the
closing Of the bank the Chicagoans
had formed the Dcylin Mining, Mann
featuring and Mercantile company,
with a capital OF 81, 10000 as a hold.
Ing company 10 take over and manage
the Deylin properties. The closing of
the bank win prevent the holding com
pany from managing tho Devlin inter-
eats.
Mr.. Deyfin has long been rtputed the
richest man in Kansas. Recently he
became too III to manage his affairs
longer, II was said, and his interests
became involved In such way that
the Chlcagoans interested IN his
schemes were notified that q large sum
would have 70 be raised 10 keep the
various enterprises going. This led
70 a conference in Topeka Of repre-
sentatiyes Of Kansas City, Topeka and
Chicago banks.
The Chicagoans In the conference In
cluded d. A. Moulton, vice president.
OF the Corn Exchange bank; A. A. Nc
Clanahan, OF the Continental national
bank, and Adoiph Uhrlaub, vice prcsi.
dent Of the Central Trust company.
At the conference IL was decided hat
between $250,0O0 and 81, 00O,00 would
be necessary 10 put new life into the
20 different Deylin companies. The
banks concerned took immediate steps
10 raise the amount and 10 form the
holding corporation that was intended
10 take over the management Of the
properties. The holding corporation
was formed Saturday In Kansas City
and d, special train 10 Jefferson CITY
was hired to1secure its charter.
Holds State Funds,
Aside from the temporary furry that
the failure Of the First national bank
caused upon the other banks Of the
city, probably the most interesting
phase OF the situation was the state
ment OF State Treasurer r. r. Kelly,
that the bank held $4,000 Of the
states fund, and the knowledge that
Mr.. Deylin was one 81 Treasurer Kel.
Iy'g bondsmen. The statement was
made that Treasurer Kelly had ex-
ceeded his authority in-placing more
Of the states money in the bank than
the law allowed, but Mr.. Kelly declined
10 discuss the matter at this time.
Runs on Other Banks
Following the announcement Of the
failure, lively run was started on the
Central national bank, and before clos.
Ing time Monday IL was known that
something more than 100000 had been
withdrawn from this institution, The
Central national also held some Of
Deylln's paper, and he likewise owns
nfteen twenty-elghths OF the capital
stock Of $4,000 OF this institution.
But II developed that the Central ma
tional held but little Of Devlin's paper,
and when It's officers displayed 100000
in cash and made every effort 70 pay
the depositors as fast as they made de-
MAIDS the excitement died down, and at
closing time only few small dcpos-
itors remained at the teIier's window.
other runs, Of lesser degree, were
started on the State savings bank, the
Bank Of Topeka, and on the Merchants
national bank. At none Of these banks,
however, was the demand for with
drawals great, only the small deposit
ora taking their money away Many OF
~ . N.m.m., N.nnult<.ra hare and fnN Cnr-