The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-09-07
MORE DEVLIN TALK.
Three Plans for Benefit of Creditors
Being Considered.

Inc creators of the estate OF e. j.
Devlin and of the First National bank
have adopted the course of their cam
pa1gn to best handle the contest to get
their money. One of three will be fol-
lowed. They are:
1. The formation of a syndicate
,. The forma tioE of trust COM
pany.
3. Threshfng out the matter in the
federal court by means of involuntary
bankruptcy proceedings.
That an attempt is being made to
syndicate all of the Devlin holdings in
the hands of eastern capitalists was an
nounced some time ago in the State
Journal. But the method and manner
in which it was instigated was not an
nounced. Neither was anything said with
reference to the plans to be followed in
case this one fails.
w. H. HORNE, a member of the firm
of HORNE & Co.. of Chicago, financial
brokers, is an intimate personal friend
of Mr.. Devlin Horine loaned Devlin
money at different times, and when the
latter failed, was a creditor for $780,
600.
Just as soon as the failure was an
nounced, the creditors got together at
Kansas City. Mr.. Horine being one of
the largest, was chosen as chairman of
what is known now as the Devlin credi-
| tors committee.
When DevIin left for Ireland, Mr..
HORNE accompanied him to New York,
and between the two it was agreed that
| If syndicate could be formed to take
| up for properties it should be done.
were appointed to go through the Dew
lin affairs and make a report.
| They are at work on it right now and
expect to be able within week, or pro-
| badly less. to say whether this plan
will carry or not. Mr.. HORNE has in
formed Sam Radges, chairman of the
First National Bank creditors COM
mittee that he will tell him without de-
Al Is %I,k f1nr1
If this report be unsatisfactory and
show that a syndicate will be an i'm
possibility, then Mr.. HORNE will at
once come here to Topeka and call a
meeting of creditors and see if a trust
company cannot be formed.
This is the new feature in the de-
velopments. Mr.. HORNE and Mr..
Rarges are working hand in glove in
the matter, and within a short time the
public will have some genuine infor-
| nation as to the strength of the
| Devlin properties.
This accounting will show almost
exactly how it stands. People who are
| interested have been continually de-
manding information concerning the
matter, but none can be given out of
| an authoritative nature until HaSk1ns
| and Sells make their Statement
"I expect said Mr.. Radges this
morning, 'to hear something from Mr..
HORNE within a week on the subject.
| If the syndicate proposition falls
| through, Horine will come here and
We will attempt to form q trust COM
pany. If that cannot be done, then by
means of involuntary bankruptcy pro-
| ceedings, the matter will have to
| be finished out in the federal court.
"But the main point in forming
either syndicate or a trust company
is to prevent the litigation which a
federal court process will involve.
That is the very thing we are trying to
accomplish. I do not know now
whether we will be able to do it, in
| fact no one knows. These three plans
are the ones which will be followed in
/ the order named. There is nothing
further to give out. From this people
can understand that we are simply
waiting on the report of the account
| ants. That will tell the story. 1 ex-
| pect to hear from it in a week.