The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1905-07-07
TOPEKA BANK GOES BROKE.
STATE OF KANSAS HAD HALF
MILLION On DEPOSIT.
First National Banks Condition the
Result Of the Affairs OF c. J. Dew
lin, Richest Man in the State

lin, Richest Man in the State
Topeka. July s-The First Nation
al bank, OF which c. J. DevIin is the
its doors today The government Of
hciaIs making an examination Of the
banks affairs today VIII give out no
statement Three or four hundred de-
positors were in line at 9 O'Clock
On the door Of the bank appeared
this notice. This bank is closed by
my orders. The comptroller Of the
currency has been communicated
with, and Will send an examiner, who
viii make a statement--W- H Ross
ingtOn, Vice-President-"
Following the closing Of the First
National bank there was a slight run
on the Central National Bank. in
which Mr.. Devlin is also a large
stakeholder
Central National FOrtiies-
| Cash to the amount Of 100000 was
| deposited in the Central National TO
| Offset the run J. W. Gleed stated
/ later that 100000 worth Of real es-
tate, 100000 Unencumbered Topeka
1 property, the other 100000 in coal
i lands in southeast Kansas, had been
turned in by Mr.. Devlin, together
with 100000 in life insurance.
Mr.. Gleed asserted that the Central
/ National was in a perfectly solvent
| condition He further stated that
! nothing further would be done with
| the Missouri organization Of the Dew
lin property until after the report Of
the comptroller here.
1 In the First National bank the
state Of Kansas has over $4,000 in
deposits, the city Of Topeka S39, 900
and the county Of Shawnee about
$4,000.
| Vice-President RossingtOn, who de-
clined to make a statement at this
time regarding the affairs Of the First
National bank, said: The trouble has
been brought about purely through
IOaning too largely to one borrower"
Cash Didn't BIateraIize.
Major William Stone, president Of
the First National, has not been in
charge Of the bank for several years,
because Of illness, and c. Z. Hawley,
the cashier, is confined at his home i'll
/ CT some nervous disease. This has left
the burden Of the responsibility for
the banks management upon Frank
Bowman, assistant cashier, who call
ed in Vice-President ROssingtOn to
aid him
| A large amount Of securities, II is
said, has been brought into the bank
within the past few days, and it was
anticipated that enough cash. would
be on hand this morning to pay of
depOsitOrs. The money did not ma
teralize, however, and it was decided
not to open the banks doors
| Mr.. Devlin, who has been under a
physicians care, was unable to leave
his home today. He was up and
around, however, and in the best OF
spirits. His physician thought that
Mr.. Deylin would be able to return
to the bank in about a week
Run on Other Banks.
| Aside fro mthe slight run begun on
the Central National bank immedi-
lately after the failure Of the First Ma
tiOnal bank, there were also small
runs later in the day on the Mer-
chants National bank, the Bank Of
Topeka and the State Savings bank.
At each Of these institutions all de-
pOsitors who requested their money
were paid. At each Of these banks
perfect confidence was expressed in
the bility to meet any demands Of the
depositors.
It is stated that the First National
bank holds $4,000 of the states
money. T. T. Kelly, the state treas
urer, declined to make a statement
regarding the states funds. Mr.. Dew
lin is on Treasurer KeIly's bond for
100000. The remainder Of his bond
is secured by a security company.
| The Central National bank is said
to hold only a small amount Of Dew
lin paper, which it is stated is amply
secured.
Due to Mr.. DevIin's Illness.
| Chicago, July 3.-The whole troub-
lie involving both Mr. Devlin's affairs
and those Of the First National bank
Of Topeka came as a result of an at
tack Of apOplexy two weeks ago which
rendered Mr.. Devlin incapable Of
transacting business. Had he re-
NAMED in his accustomed state Of
health, say Chicago bankers who are
| interested in the First National, he
would have been able to prevent the
! trouble
At the Corn Exchange bank here
it was said today that the First Ma
| tionaI bank in Topeka carried COM
paratively small account with the
Corn Exchange bank
Owes DepOsitOrs S1,39O,OOO.
New York, July ACCORDING to
a recent statement the First National
bank of Topeka, owed depOsitors ST.
| 100000
Receiver Appointed.
/ Washington, July 3.-The comp
| troller Of the currency has appointed
| National Bank Examiner J. 7. Brad
ley receiver Of the First National
bank, Topeka, Kan.