The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-11-08
Says First National Will Pay
Dollar for Dollar.
COLLECT FROM KELLY.
State Treasurer Must Pay Back
That "BOrroWea' $4,000.
Complete Change of Plans Due
to Mr.. Devlin's Death.

Since the shock OF the death of c.
J. Devlin has passed. and something
like an equilibrium again obtained.
the men who are handling the big
estate are facing a big problem
What course shall We pursue? p
Clifford Histeds the head attorney
in matters pertaining to the bankrupt
millionaire coal dealer lsfrank IN say
ing that probably an entire new pro-
gramme Will have to be mapped out.
He was in Topeka this morning in
conference with the receivers.
This does not mean that he is pessi-
mistic or discouraged over the outlook,
but on the contrary he thinks the out
look excellent. He declares with Re
ceiver Bradley that the First National
bank viii pay out in full-dollar for
dollar. He is very well satisfied with
the returns from the operation of
workable assets.
But that is not the stumbling block.
The death Of C. J. Devlin, coming like
a clap of thunder out of a clear sky,
almost swept away the outlined pro-
gramme. This man was counted upon
to return to his desk and bring order
out of chaos.
Five minutes before he was strfck-
en-" said Mr.. Histed today, ''he turned
to me and said: Cliff, / haven't
given up hope. Just let me get back
into the harness. I'll straighten out
the thing. 4" And Histed says that
Devlin spoke these words with a buoy
ancy and spirit which betOlzened his
utter sincerity.
But now what are we to do?' said
Histed. We depended upon Devlin
to help as out Of the matter. We
counted him an immense asset. We
had a programme carefully mapped
out, the nature Of Which I won't dis
cuss now, however. because it would
be of no use Tt is past of course
we viii 60 ahead with our intention of
electing trustees in the federal court
on December 10 as previously ar
ranged. Meantime the different cred
itors and interested parties will prob
ably get together and talk over plans
and prospects,
What do yoa think would be the
bese course to pOsisstze2' % was asked.
Il am frank to admit that my 3udg-
ment is not mature enough to singly
point a way out of this I might sug-
gest the plan of waiting for a time to
see what the estate will pay, especially
the assets which are now being worked.
This might be done for the purpose of
showing just what is to be expected,
and if the figures are big enough they
may induce the formation Of a COM
pany or concern of some kind to take
charge of the thing. [ don't say this
as being a plan, but merely suggest
it. I would rather at this time say
nothing at all I do not know just
what will be done. I don't want this
misconstrued as it may be that I am
pessimistic over the outlook. for I am
not. Everything is all right and we
want to keep it intact. But some meth
cd of handling the affairs different
from the one we had planned with Mr..
Devlin at the head viii have to be
evolved. What it will be I don't know"
What do you think about the First
National bank affairs % he was asked.
Il think that the bank will pay out
in full. dollar for dollar was his an
sWer. THE life insurance added to the
assets which Mr.. Bradley had on hand
viii do that all right. incidentally the
settling of the banks affairs viii do
much to establish confidence all along
the line of creditors. It has that fea-
ture''
What are the plans of the DevHn
family?" was asked
"One of the little girls is sick" said
Mr.. Histed, but I think that when she
is better Mrs. Devlin will come back to
Topeka, and though I have no definite
reason for SO saying, I think they will
live here
What about the $4,000 which Devlin
loaned to Treasurer Kelly?'' was asked.
THAT will be treated as an esset and
collected - he said.
''WiI suit be brought2''
"Oh, I cannot say anything about
that yet" was the reply.
This is the S3, 600 which was paid by
Mr.. Devlin to the bonding companies as
the premium on kelly's bond as state
treasurer.