The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-07-05
END OF THE RUN.
Over 100000 Taken Out Of
Banks.
This Was During the All Day
Excitement Monday.
FEW LARGE DEPOSITS
People With Small Savings Got
Their Money.
DevliR Liabilities Believed to
Be Under So, 200, 900.
FEW LARGE DEPOSITS


of the Bank of Topeka, Central Nation
al, Merchants National and State Saw
ings bank make the amount of funds
withdrawn from those four institutions
during Mondays run at $S46, 600, divided
as follows:
Bank of Topeka. Sill, 200.
Central National, $4,000
State Savings 100000.
Merchants National, $4,000.
Ninety per cent of the deposits with
drawn from our bank were in checks of
less than $780, said John r. Mulvane
of the Bank of Topeka
Our depositors who withdrew were
people who had but small amounts. But
two broke over in the thousands and
quite number of them took out but 81
to So this is the statement of William
Macferran, cashier of the State Savings
These are the statements which are also
made by the Central National and Mer-
chants National
This amount of $4,000 was distribu
ted among some 1880 depositors A
great many of these same people today
returned to the bank where they had
withdrawn their savings and redeposi-
ted. Sam RadgeS, who is endeaVorlng
to secure an organizati ton of the credl-
tors of the bank stated this noon that
preliminary meeting looking to an or
ganization will be held in a few days.
In the meantime he is soliciting names
of the depositors and those who are de-
sirOuS of forming such an organization.
Il understand said Mr.. RadgeS, that
the insurance policy which Mr.. Devlin
has turned over as security is not worth
anything whatever unless he dies within
a few months. In other words, and
have this from good authority, that it is
not a paid up policy. 1t just like fire
insurance on a house" RadgeS has his
entire fortune of $4,000 tied up by the
failure.
Cuts Down Liabilities.
Later information revises the list of
liabilities which the estate of Chas. ].
Devlin will be responsible for on settle
ment
The revision reduces the amount by
$4,000, making the total $2,6S1, 900 in
stead of 81, $40 900 as published Tuesday.
Chas. S. Gleed. VINO is president OF
the holding corporation, said this noon;
1T must be remembered that these
liabilities are against the companies in
Which Mr. Devlin is interested and not
personal liabilities. The personal notes
which Mr. Devlin may have out can be
covered by few thousand dollars. Mr..
Devlin may be personally broke but it
does not follow that the companies will
fail to pay out. This is a point which
has not been clearly brought out The
companies are good and it is against
them that the liabilities hold and not
against Mr.. Devlin personally"
Mr.. Chas. s. Gleed stated that he was
unable to determine whether the bank
would pay out or not. Mr.. J. w. Gleed
expressed his opinion in this manner:
4 believe that the bank will pay its
depositors in full if the men who are
put in charge of the property manage
it wisely
Opinions still vary with reference to
the status of the state as creditor.
John r. Mulvane gave it out as his
opinion that in q national bank, the
United States is the first preferred
creditor, the state the second, the
county the third and the city the
fourth preferred creditor, the deposit
ors coming last. IF this is true" said
Sam Radges, 1.-The depositors won't get
a thing. For 1 have looked into this
matter and a great deal of this col
lateral security is not worth its face
value
Another prominent bankeY who did
not wish his name to appear in print
stated that the stand taken by State
Treasurer Kelly is absolutely ridicu-
lous. IF those in charge or the judge
who makes the decision hands down
an opinion of that character he should
be imDeached. It's the most ridiculous
statement I have ever seen in print.
That money had been collected by the
bank and was lying there. 1t should
have been taken out by Mr.. Kelly. If
such an Interpretation is to be given
to it. what is to prevent every one that
wants 10 having money on deposit
and simply writing across the back,
these are collections to, be held in
trust. 1t would be entirely possible
for any one to have money on deposit
for seventeen years at that rate and
simply call it collections. If this does
not put Mr.. Kelly in a tight fix 1 don't
see what can
Mrs. Devlin Won't Leave.
Mrs. c. ]. Devlin denied emphat.
ically this afternoon that there wa:
any foundation to the rumor that she
was going east to raise funds to aic
in securing the banks creditors. She
said: 81 wish you would state for ms
that there is nothing whatever ii
that rumor. OF course I don't know
what 1 am going to do next"
Both Mr.. Devlin and Mr.. HawIey
were reported as improving. thi
morning. Mrs. Devlin said: "Mr
pevlin is doing very nicely and is still
Improving. His physician forbids hin
to go out yet
It is stated that Mr.. DevIin will no
90 away for a rest trip until the tan
gle which has taken place is entirel,
Strengthened out.