The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-08-08
HAVE YOU $4,000?
That Is What Receiver Bradley Wants
for National Corner.

The receiver of the First National
bank will offer the bank building for
sale. Receiver Bradley wants 100000
for the fve-story brick and stone
structure which has a frontage of so
feet on Kansas avenue. The sale of
the property will be made on a
straight offer basis and the bid feature
will be eliminated. The Real Estate
building, which was purchased last
year at a cost of $4,000 by C. j.
Devlin, will also be placed on the mar
ket before long. It is probable that
the First National bank building will
go first, as there are a number of par
ties seeking its purchase. The men
back of the reorganization of the First
National are attempting to buy in the
property, and they are very anxious
to acquire it. I'VE have practically
decided upon the First National bank
building" said Judge Lee Monroe,
who is upon the committee appointed
to work up the prelimi. Try details of
the banks organization.
Receiver Bradley said this after
noon: ST believe this property should
bring in 100000. It is easily worth
that. Why [ have been told by parties
that know that these lots if they were
bare of every improvement could not
be purchased for less than $45,000.
And it is a certain fact that this build
ing could not be duplicated under
SIS, 900. Furthermore. this property
is going to increase in value. 1t is
constantly going to grow in value, be-
cause it is most ideally situated. It is
the best bank location in the city.
! There is no question about it. This
hotel in here, should be the best hotel
in the state, the best paying The
rents are too low, however. They
should be raised, there is no reason
why they shouldn't
IF we sell the property we will prob
ably move into the Real Estate building
/ IL IL
bank are wound up. We will move out
any time any other bank wants to move
in here. It would help the sale of the
property if we offered it for sale subject
to lease. The rest of the property will
| be turned into cash as quick as we can
realize upon it. We will probably not
offer the properties for sale until this
| fail. Things will look brighter them
The assessment which was levied
against the stockholders in the bank
brought in $1,000 to date. The first quar-
| ter's installment fell due yesterday.
About four of the stockholders respond
| ed with their assessment and put up Sc
curities for the balance. One party paid
up in full for the whole assessment.
Three or four others promised to make
payments. Others did not reply. c. J.
| Deylin simply acknowledged the re-
ceipt OF the announcement of
the assessment. The assessment will be
placed in as an additional claim against
| the DevIin estate on the part of the
i bank. Others of the stockholders have
written to the comptroller asking for
more time in which to pay up.
Receiver Bradley said: 1T will not do
| them any good for the comptroller will
not grant any extension, of that I am
pretty sure. He may give them a little
| more time in which to make the first
1 payment but after that the payments
will have to be met regularly. The
assessment caught a great many of tile
stockholders unawares and they were
not prepared. There appears to be no
disposition to hold back on the part of
those able to pay. OF course, we will
have to commence legal proceedings
against some in order to collect. The
total assessment win bring in about
$40 600"