Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1905-08-11

Kansas has experienced in dozen years,
accoms aned by political upheaval Of
seismic force. TWAS upon the brain OF
Charles J. Devlin that the cfot formed,
just before his enormous monthly pay
roll was due, and no other man IN Kan
sas could have brought on so much trou-
BILE by falling i'll as Devlin did.
In the first place he was rated the
richest man in the State up to the hour
that the bursting Of tiny blood vessel
in his brain caused an apoplectic stroke,
his fortune being estimated at $3,OOO,-
600 to $4,000,UU0. Then, his interests
were so diversified and geographically
scattered that crowdng him into invol-
untary bankruptcy affected an uncom-
monty large number of people. But the
great cause of his present troubles, and
those of thousands of others, was his
practice of relying on his memory. He
owned or controlled four banks-two in
Kansas and two in Illinois-and 26 other
corporations, among them two railroads.
The affairs of these 80 corporations he
carried in his head. He had no knowl-
edge of bookkeeping, but possessed the
most implicit faith in his ability to keep
his financial bearings by the compass of
his memory. And, more is the wonder,
he kept them in that way successfully
until an accident happened to the com
pass, and then no one else aboard his
financial bark could make even a ra-
tional guess as to where they were. In
a few days they struck the rocks.
A Unique Figure.
Devlin is a unique figure in finance.
TT r L.; Df
age. AS young man he was clerk in
coal office and eventually he became man
ager of a small coal company in north
ern Illinois. In 1889 he was made man
ager of the fuel properties of the Santa
Fe system, and when that company went
into a receivership Devlin leased its coal
properties. He acquired mines in Lii
nois, Missouri and Kansas. When the
miners and the big coal companies had
trouble in 1897 Devlin sided with the
miners and kept his mines going, with
the result that he made money fast and
acquired other coal properties. He be-
came the richest man in Kansas, but good
fortune did not breed snobbery. He spoke
as pleasantly to a laborer in the street
whom he knew as to the Governor of the
State. Much comment has he caused by
lifting his hat to an old negro couple
of his acquaintance. Everybody looked
alike to Deylin. Another marked trait
was his desire to see young men sue
coed. He gave them a chance wherever
he could. He lived in a pretty home,
with splendid flowers, and other evidences
of good taste, but no exclusiveness. He
enjoyed sitting on the porch and having
the children romp on the lawn.
Work was his recreation and he was
g veritable engine. He was the busiest
man in the West. But he had no faith
in bookkeepers and stored all the details
of his business in his head Most of
his concerns were making money, but all
were relying upon him as the motive
power to keep them in operation. His
credit was large State Treasurer Kelly
had $547 900 stored in one of his banks
the First National of Topeka.
A few weeks ago he gave out and was
forced to his bed. His mind became a
MATT and he could not plan a few days
ahead. When Devlin's brain stopped
working, his enterprises had to cease OPP
Grafton, for there was no one in the har
ness who knew which way to turn. Three
of his four banks are in the hands of
receivers, Is Of his 26 corporations are
in bankruptcy, hundreds of bank deposit
ors are seeking return of their savings,
hundreds of coal mine IS are fearful lest
the Devlin mines shall be closed and
throw them and their families into the
clutches of want, and the people of the
State are in a fever of excitement on
account of the probable. The total liza
bilities of Devlin are estimated at 3d.
100000.