The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-07-03
BANKS KEEP OPEN.

By closing time today the excite
sided. The Merchants National, the
Central National, the Bank of Topeka,
and the State Savings bank each re-
mained open after the closing time of
o'clock this afternoon and all an
nounced that they would keep open
as long as anyone wanted money. At
8 o'clock there was line of some so
people at the Bank of Topeka, some
of whom were depositing money. Two
policemen were trying to maintain or
| der. At the Merchants National
about Is people were present at short
away rapidly to some Is. At the
Central National and the State Saw
ings bank there were about rs each.
The bank of Topeka received three
kilograms of aid this afternoon from
Kansas City. st. Louis and New York
city banks, but refused any amounts
| of whatever size. ''These are mostly
small depositors,' said the officials in
charge at each of the banks at closing
time. John r. Mulvane of the Bank
of Topeka got onto a table and shout
ed: There is no need for any one to
get excited. We will keep open as
long as any one is here who wants his
money"
: Mr.. Bonebrake at the Central made
a similar statement.
The State Journal has not the
shadow of doubt but all of the other
banks of Topeka, except the First
National which closed it's doors this
morning, are perfectly solvent and
safe, and that the depositors who
want their money in any of these
. other banks can get it on demand
The writer has large deposits in
three of the banks and does not pro-
pose to touch a dollar in any one of
them, excepting in connection with
) his usual current business.
The condition of the First National
I bank at this writing seems astounding,
and to one not entirely familiar with
the law, it looks as though there had
9 been some practices of criminal ma
. ture. Vice President Rossington makes
n the statement that the trouble was due
Q to the loaning of a large amount OF
money to one borrower. Why was
o this money loaned to that borrower:
4 That law permits only a loan of $780,
900 to any individual in a bank with
2 the capital of the First Nationals.
8 If there have been criminal pro
Z ceedings by any one he should mo-
Q be spared. however high his station
z z 1t is a serious thing to use the savings
s of the people, except under the stric
2 authority of law and cause alarm tC
z business interests.
z Of course. Mr.. Devlin had twenty
5 six companies so that he could prob
3 ably legally borrow twenty-six times
2 thirty thousand from this bank
y Morally, this would seem to be a bat
3 piece of business for the directors o1
70 any bank to permit. 1t is said Mr.
= DevIin owes the First National over
" million.
e Mr. Devlin has been a kindly. gooC
natured man of large business re
y sources, but many of his peculiar meth
IS DDS in financial affairs have been known
" for a long time and they were such a.
20 might precipitate his own disaster a
j any time. 1t is admitted that he hal
,S debts of more than three million dollars
IS but the crisis in his affairs, it will b,
;, shown to the credit of Topeka, will af
IS feet only Mr. Devlin's First Nationa
y bank and those who have depended per
~ sonaIlv 1Inon Mr. DevIin'S resources.