The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-08-07
Devlin Creditors Meeting L.
Postponed Today.
We're Unable to Have Claims
Ready to File.
HAVE CONFIDENCE.
Host of Victims Think Property
viii Pay Out.
Consequently They Are Not in a
Hurry.

The meeting of the creditors who hold
claims against the Devlin properties
was not held today, August Z, as an
nounced about a month ago. 1t will
probably not be held until after Sep
TENDER l.
The creditors have been unable to get
their claims into shape to file them by
today and so informed Referee in Bank
ruptcy N. NJ. Loomis. So he told them
In reply that they could have more time
If they desired, and gave them an addi-
tional month to get ready.
Another advantage will also be gained
by this move, namely the receivers will
be able to present a much better re-
port, because they will have had more
time to make their investigation and
will have received more revenue from
the Devlin mines which are now being
worked to their full capacity.
According to the law, answer by the
petitioner and the claims of the cred1-
tors must be presented to the court 20
days after voluntary petition in bank
ruptcy is filed. c. J. Devlin stated to
the court on July that he was in
solvent July 20 was therefore set as
the date for his answer. At his request
1t was extended to August Z, today, but
no official call was however sent out.
The understanding was simply verbal
between the referee and the bankrupt
ever, since stated to Mr.. LOOMS that
they would need more time to get their
claims into readiness, and since the ex-
tension of time will also be favorable
for Mr.. Davlin, it was given without de-
murrer.
The call for the meeting will proba-
bly, be issued by Mr.. LOOMS within the
next two weeks He will at that time
give a definite date which will be pro-
badly the last day in the first week of
September. During the next few days
he expects to hear from the creditors
further, and when they notify him OF
their readiness, he will issue the call.
This delay, viewed from all points is
favorable. 1t shows that the creditors
have faith that the estate will pay out.
They are willing to grant the receivers
extra time to look into the matter fur
Sher and in every way give Mr. Hurley
and Mr.. Leland a good opportunity to
test conditions and Mr.. DevlinS re-
sources so as to see what revenue they
will produce. This latter feature is one
that is awaited with a great amount or
interest by everybody who is concerned
in the matter. Upon the receiver S
amended petition which will be present.
ed at the creditors meeting, depends a
great deal of future action on the part
of creditors who have claims against
the Devlin estate, and creditors who
have claims against customers Of the
First National bank.
1t was stated this morning from an
authoritative SOuIE6 lIAdL 14Ol a SINS
complaint had been made against the
delay in the creditors meeting, with
the exception of one Topeka man who
had A very heavy deposit in the First
National bank. HE is the only per-
son who has done any kicking" said
the man who gave out the statement
Gail of the other creditors are per-
fectly satisfied. A number are not yet
entirely ready and those who are ready
are willing to wait. It is expected that
the receivers can also make a better
report if they are given a little more
time. The extension of the time is
favorable to everybody concerned. 1t
seems now as if most of the creditors
are satisfied that they are not going to
lose and are aiding in every way any
plan which will really divulge the true
status of Mr.. Mulvane's affairs. The
desirable thing now is to find out just
what his resources are. just what rev.
enue the mines will pay, and just what
to expect. The receivers can make a
better showing in two months than
they can in one and since information
is what is wanted now. it had better
be the result of thorough testing and
investigating than simply the first
skimming over of the matter. Some
people are apt to be alarmed by this
delay, but there is no reason at all for
such a feeling. The fact that the
creditors are not in hurry is a pref
ty good indication that they are feeling
pretty Safe