New-York tribune., 1905-07-04
TOPEKA BANK SHUTS DOOR
LARGE LOANS TO ONE NAN.
{. j. DeUlin, One of the Wealthiest
Men in Kansas City, InUoIUed.

Topeka, Kan, July 3.-The First National
Bank of Topeka. of which c. J. Devlin is the
principal stockholder. failed to open it's doors
to-day. The government officials arc making
an examination of the banks affairs but gave
out no statement to-day.
On the door OF the bank appeared this notice.
This bank is closed by orders The Controller
OF the Currency has been communicated with
and VIII send an examiner. who will make Il
statement.
w. H ROSSINGToN. Vice. President
No definite statement obtainable to-day re-
garding the condition of the First National Bank
controlled by Charles ]. Devlin. a wealthy coal
mine owner. which closed its doors this morning
Colonel W. H. Rossngton. vice-presidcnt of the
bank. locked the institutions books in the vault
await the arrival of J. T. Bradley national bank
examiner. whom the Controller had appointed
ceiver of the failed bank Colonel Rossington
would only say:
The banks trouble has not been caused by dis
honesty the part of any one, but by lending
too largely 10 one borrower. There has been no
stealing"
The borrower. it is said. is Mr. Devlin. and the
bank is said to hold the capitalists paper to the
amount of 100000. Mr.. Devlin. whose sudden ill
brought about the tangle in the big coal min
ng and railroad properties. valued. IL is estimated
at close to 100000. is still under the care of
physician and statement can be obtained from
him. All that came from his home to-day was that
the stricken coal operator had turned to the
bank nearly 10000 in life insurance and about the
amount in Topeka real estate Business
sociates Mr. Devlin expressed their opinion that
If properly handled this would allow the bank to
pay out.
Aside from the temporary furry that the failure
of the First National Bank caused the other
banks OF the city. the most interesting phase OF
the situation the statement of the State Treas
T. T. Kelly. that the bank held $4,000 of the
States funds. Mr.. Devlin was one Of the Mr..
Kelly's bondsmen.
Foil NJ fall
lively but not disastrous started the
Central National Bank. Other runs OF a lesser de-
gree were started on the State Savings Bank, the
Bank of Topeka and the Merchants National
Bank At none OF these banks. however, was the
demand for Withdrawals great.
Following the closing of the First National
Bank there slight the Central Ma
tional BanF. in which MI Devlin also is large
stockholder, and there were small runs later in
the day on the Merchants National Bank the
Bank OF Topeka and the State Savings Bank.
At each CT these institutions al depositors who
requested their money paid and confidence
was expressed in the ability TO meet any de-
mands Of the depositors.
Cash to the amount of 100000 was deposited
in the Central National TO offset the run. J. w.
Gleed stated that 100000 worth of real estate
$500. 900 unencumbered Topeka property, the
other 100000 in coal lands in Southeastern
Kansas-had been turned in by Mr. Devlin.
together with 100000 life insurance. Mr.. Gleed
asserted that the Central National was In a per-
fectly solvent condition. He further stated that
nothing more would be done with the Missouri
organization of the Devlin property until after
the report Of the Controller here In the First
National Bank the State Of Kansas has over
100000 in deposits. the city OF Topeka. $500
and the county of Shawnee about $4,000.
Mr.. Devlin, who has been under the care of a
physician unable to leave his home to-day
He was up and around. however. He was in the
best Of spirits. and in reply 10 questions, said
that he expected TO be able TO go to the bank in
another week.