The Topeka state journal., 1905-07-15

of the Devlin Mines.
Jobes secured control Of the paper
by making a loan of $4,000 which
was sent up to the First National in
charge of the Central National the
morning of the rush. The bank closed
it's doors and the $4,000 was allowed
to remain at the Central National
without being touched. Receiver
Bradley made no disposition of the
funds awaiting the visit and advice OF
Judge Oldham who was sent here by
the government to advise the receiver.
vised that the money be returned and
that the securities be released. But
Jobes accepted the return of the
money but refused to give up the Sc
now. Jobes still obdurately refuses to
hand over the securities in order to
cover the overdrafts of $263,000 which
was made by the First National and
C. j. Devlin upon his bank. The Sc
cur1ties which Jobes controls are all
gilt edged and represent the best the
bank had. There are still about $780,
900 worth of securities which the bank
doubtful if this full amount can be
realized since there is always. more or
less paper which a bank has which has
to be discounted and which is not
worth its face value. On this account
the depositors are rather fearful that
they will realize less than ever upon
their deposits. Thefe is some grounds
for belief, however, that court decis-
ion will be adverse to Jobes, forcing
him to give up possession.
1t is understood from relia BILE source
that the bank has paid out most of its
currency and bank notes in meeting
payment on the checks which were de-
posted on Friday and Saturday and
certain protested check drafts, collec-
tions for which were made by the bank
here and held. The amount of the cash
which has been so paid out is not
known but it is somewhere over the
100000 mark.
The affairs of the temporary receiver
ship will probably be wound up by the
middle part of next week. A statement
will then be made by Receiver Bradley
direct to the comptroller of the currency
at Washington who in turn will make
a statement to the creditors and deposit
tors of the liabilities and assets of the
bank. It will not be given in detail.
Receiver Bradley stated that he would
not make any individual statements to
the depositors. The only transaction
which will occur between the depositor
and the receiver will be a balancing up
of the pass books and the issuance of a
receivers certificate which will state
the amount due each depositor. When
dividends are declared the certificate is
| to be presented at the bank by the de-
positor and the receiver will make an
dend payment. This method will be
| pursued until the last dividend is paid.
The clerical part of the banks ac-
counts is rapidly clearing up. The ac-
counts between the depositors and the
! bank have been practically all straight
ened out and the only thing which re-
mains are the accounts of the First Ma
tional with other banks over the state
With the status of these settled the
temporary receivership will come to a
| conclusion.
A committee consisting of E. H
| Crosby, Sam Radges, J. H. Smith ano
Herbert Hackney called on Mr.. Bradley
yesterday and had a conference extend
| ing over period of two hours. The af-
fairs of the bank were discussed.
VIII Work the Mines.
! Receiver Leland said this morning
I'VE are going to work the mines like
| they have never been worked before
| We are going to work every miner. Too
many cases of working just a half &
! day is the trouble with the miners. Thai
! sort of thing is going to be stopped
we are going to encourage the miner tt
work and keep at it. We expect te
| make some money with these mine:
| and we can by running them to theil
| utmost capacity"
/ A contract for the surplus amount o,
| coal mined in Kansas in excess of Wha
the Santa Fe utilizes has been entered
| into on the part OF the receivers witt
P J. Monaghan of the Southwestern
Fuel company. The Southwestern F'ue
| company was formerly the direct selling
| agent of Mount Carmel Coal company
! and the Devlin-Miller Coal company
/ the companies which handle all of tn,
! product of the Devlin mines in Kansas
| but on account of the intimate relation
/ ship of the Southwestern with Mr.. Dew
lin it was deemed advisable to make
| new contracts and make them direc
| with Mr. Monaghan and not with thu
| former selling agent.
W. E. Thomas, vice president of tht
| Kansas City Coal and Coke company
| who is president of the Southwestern
| was connected with Devlin's failure anc
! this hampered the relations of th'
Southwestern with the Devlin receivers
| P. J. Mona CHAN, manager of the South
western has no stock in the company
| and may in the near future organize {
| company to act as selling agent for tht
coal from the Devlin mines. This sur
| plus represents from so to 10 car loads