Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-07-03
THE LAST STATEMENT
EXAMINER BRADLEY APPOINTED
RECEIVER BY CONTROLLERS.
Closing Caused Slight Run on the Gen.
trail National-Devlin's Standing
in Kansas City.

will give out no statement. Three or four
hundred depositors were in line at O'Clock.
On the door of the bank appeared this
notice: This bank is closed by my orders.
The controller of the currency has been
communicated with and will send an ex-
aminer. who will make Il statement. w.
II. Rossngton, Vice President"
Following the closing of the First Ma
tional Eank there was a slight run on the
Central National Bank, in which Mr. Dew
lin is also a large stockholder
Cash to the amount of 100000 was depos-
tied in the Central National to offset the
run. ]. w. Gleed stated later that 500, 900
worth of real estate-S;st0 900 unincumbered
Topeka property, the other $400,0O0 in coal
lands in southeast kansas-had been turned
in by Mr.. Devlfn, together with SIU0 900 in
life insurance. Mr.. Gleed asserted that the
Central National was in perfectly solvent
condition. He further stated that nothing
further would be done with the Missouri or
ganization of the Devlin property until after
the report of the controller here
In the First National Bank the state of
Kansas has over $4,000 in deposits. the
city of Topeka $4,000 and the county of
Shawnee about $50, 900
NEW YORK, July 3.-According to a re-
cent statement the First National Bank Of
Topeka, Kan, owed depositors $1.39O.OOo.
Devlin's Standing at Kansas City.
hANSAS III [, july 81. j. DeVlln Was
generally credited being one of the
wealthiest men in Kansas City. He was at
the head of twenty-six different companies.
coal mining enterprises and mercantile es-
Establishments, and for many years has been
one of the most active business men In the
southwest On Friday last it was stated
that because of Mr.. Devlin's illness, the re-
suit of overwork. 1t had been decided to
form a corporation to cover all his prop
critics. worth in the aggregate. 1t was stated
about seven million dollars. This action
was deemed necessary, it was announced,
because of Mr.. Devlin's inability to longer
direct his interests.
On Saturday last corporation to be
known as the Devlin Mining, Mercantile and
Manufacturing Company, was organized at
Kansas City by Mr.. Devlin's business as
sociates. The capital stock OF the company
was placed at one million dollars. divided
into 10000 shares of 800 each. already sub
scribed and paid. The shareholders. all
men prominent In southwestern business
affairs, were given out as follows:
Landrum B. Ridge. Kansas City. 1905
shares; j. w. Gleed, attorney for the Gem
trail National Bank Of Topeka one share:
Charles A. Loomis OF the City National
Bank of Kansas City, one share; Clifford
Histed, Kansas City, attorney for Mr.. and
Mrs Devlin, one share; c. J. Lantry, Strong
CITY, Kansas. director of the First Ma
tional Bank of Topeka one share
AS soon as the corporation papers were
Drawn a special train was hired and the
documents were hurried to Jefferson CITY
where they were hastily filed with the sec
rotary of state
Yesterday conference of Chicago, Kan
sas city and Topeka bankers interested in
MI Devlins affairs. was held at Kansas
city. The conference lasted several hours
and at its conclusion late last night it was
announced that the question of raising a
large sum OF money needed by the holding
company to keep the Devlin properties go
ing was discussed
The following named banks were repre-
scented at the conferences:
The Corn Exchange Bank of Chicago the
continental National Bank of Chicago the
central Trust Company of Chicago the
American National Bank of Kansas CITY
the City National Bank of Kansas CITY the
Central National Bank of Topeka and the
FIRST National Bank of Topeka Mr. Dew
Inns wealth is largely in coal mining prom
critics In southern Kansas, in the vicinity of
Marceline, Mo-, and In Illinois These pron-
critics include the following: Mount Carmel
coal mines. Toluca coal mines, the Mar
auette Third Vein mines the DevIin Coal
Company. the Devlin- Miller Coal Company
the Crawford County Mining Company the
Pittsburg and Midway Coal Company, the
Kansas City Coal and Coke COMPANY the
Southwestern Fuel Company the Wiley
Coal Company and the Marceline Coal Com
pany-
Mr. Devlin also owns a number of large
coal yards in Kansas City. He is a STOCK
holder in twenty-five banks his bank stock.
It is estimated, amounting probably to
$1.0O0.O00.
Another property owned by Mr. Devlin Is
the Toluca, Marquette and Northern rail-
road a coai-carrying line forty-two miles
long. which connects with the larger roads
in Kansas.
The controller of the currency has an
pointed National Bank Examiner / r
Bradley receiver of the First National
Bank. Topeka. Kan. upon receipt of ad-
vices from the vice president of the bank
that its doors had been closed
The following Is statement of the
resources and liabilities of the bank as
shown by its last report of condition, May
%. 1895:
Recommendations and discounts. $685.
los; United States bonds and premium.
1900; bonds. securities, etc. $50 O53; real
estate. $9299t; due from banks and bank
ers, S3I603S; cash and cash items. 1915 Ill /:
redemption fund. $1,000: total, s. 351 3O4
Liabilities 100000 surplus and
profits. N1057i; circulation. 500 900; due
to banks and bankers. So, 351. deposits,
81 .51S.3S1; total, 81. 35l ,304.
Charles S, Gleed. general manager at KAN
sas City of the Missouri and Kansas TeIe-
phone Company, is perhaps as familiar with
the affairs of the Devlin properties as any
one man. MIR. Gleed is not Mr. Devlins at
torney, but is one of the attorneys of the
Central National Bank. and as a director Of
the Atchison. Topeka and Santa Fee railroad
he has had opportunity to be close OBJ
server of much of MIR. Devlin's business. To
that so far can be ascertained by hasty
appraisements the value of the Devlln es-
tate is between $4,000. 900 and $7.O0O,0OO
Million in Clear Realty.
Mr.. Gleed said: This property consists.
in round figures. of million dollars worth
of clear real estate. quarter of million
dollars paid-up value of a million and a
quarter of life insurance. $500 600 of bank
stocks. and the remainder In stocks and
bonds OF twenty-six mining. mercantile and
railroad companies, wholly or largely under
his control. Against this property is an in
debtedness of from 81. 500 Gao to $4,000, 600,
practically all due to fourteen banks The
Indebtedness Is secured by the stocks and
bonds of the twerty-six mining, mercantile
and railroad companies. The debts prob
ably are all known"
If the assets were svaluable as seems like
ly. and II they are wisely managed. all debts
Will be paid. Ii their value Is small. or II II
greatly depreeiates by acknowledgement, then
the creditors will lose accordingly. No for
NAL inventory OF either debts or assets has
been found. One of the banks controlled by
Mr.. Deviin was the First National Bank of
Topeka. Up to about the time of Mr.. Dew
Inns Illness the bank had loaned Mr.. Dew
lpsS ,pfa oh for f,h