The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-10-17
DON'T like PLAN.
The DeYlin Creditors May Take
the Reins
RumOr Of Changes In the Re-
ceiVership.
IN HANDS OF ONE MAN.
That is Suggestion Of Some Of
Those Interested.
Santa Fe Wants Mr.. Hurley to
Stay.
Mr. Bradley Will Meet Bank
DepOsitOrs Tonight.
IN HANDS OF ONE MAN.

Who viii be the trustee or the trus-
tees Of the Devlin interests? Who viii
succeed J. E. Hurley or Cyrus Leland
and Judge Reeves whose lives as receivers
under the voluntary bankruptcy pro
eeedings end with the adjudication Of
the various affected concerns under the
Involuntary proceedings? The creditors
meetings for eight different Devlin com
panies commence on Wednesday of this
week. October Is. Two are set for that
date and the remainder for the next
day. October 10.
The First National banks claims add
one more to this list. Though it pro-
ceeds in a slightly different matter. the
solution is looked for in the same chan
neL This makes a total of nine differ
ent cases. Under the law each one
elects a trustee Win they all be differ
ent, or win but one be agreed upon?
The First National bank may hold the
balance Of the power Are the creditors
satisfied with Hurley or Leland or
Reeves or viii they favor someone else,
or viii the three receivers be continued.
Hurley is said to be a favorite with a
number of the companies for trustee.
But it is claimed that there are some
railway interests to be figured with. Up
there In Illinois is a little railroad call
ed the Toluca, Marquette and Northern.
1t is only 30 miles in length and would
look like an ant-hil in the Rocky
mountain range if a birds eye view of
all the railroad systems in the United
States were taken.
But that little road is worth money
and a whole lot of it. 1t is a sort of
belt line between a number of trunk
lines which pass through that territory.
1t connects the big coal mines through
out that district. Six different big roads
are said to be after it. They. are the
Alton, the Rock Island, the Santa Fe,
the Big Four. the Burlington and the
Milwaukee. George r. Peck. general
solicitor of the Milwaukee, has. some
big interests in Devliu mining proper
ties. If all these roads are after this
little valuable belt line, will it be agreed
TO let the general manager of one of
tne interested roads act as truStee2
Outside of this one instance there
are no interests which any of the rail-
roads might have in the matter. The
Santa Fe's general manager was a.
very desirable receiver because his
road uses so much Devlin coal and it
furnishes one Of the big assets The
assistant general solicitor of the Bur
ington was in a considerable sweat
the other day to find out about his
ROADS claims Inquiry proved that
Devlln owes his road so cents for
freight. That was all.
The interest of the First National
bank took considerable impetus this
morning by the announced intention
OF Receiver Bradley to have the cred
3tors' committee meet him tonight and
talk over the subject of who would
be the most desirable trustee for the
banks claims.
Mr.. Bradley was called up and
asked who he favored, since he rep
resented the bank. He replied: why.
have not settled that matter
will you confer with the creditors
of the bank in regard to the subject
especially since the meeting takes
place this week for the claims to be
fled" was asked
'tWell-yes, I guess I will; and I
think that il ought to be done at
once shall call the committee to
2eU1er for private conference to-
night if possible. I think that the
depositors ought to talk the matter
over and agree upon some one
The depositOrs committee has full
power from all the depOsitors to act
I'm the matter. sam Radges. the chair
man. said today. Certainly we viii
meet him. We shall be glad to. This
VIII be the first time that we viii have
had conference with him
There is considerable doubt. how
ever, in the minds of interested par
ties that the election of the trustee or
trustees viii take place at an early
date general opinion prevails that
continuances viii be taken in the cases
and that they may drag on for sew
eral months
The situation is a very peculiar one.
Just at present Mr.. Hurley and Mr.
Leland are acting as receivers under
the voluntary bankruptcy petition.
Most lawyers agree that this petition
was irregular and died for want of
lack of jurisdiction. But everything
seems to be moving along nicely un-
der It. In reality it was filed to hold
the properties intact until a course of
campaign could be mapped out A
decision was then reached to file in
voluntary proceedings against the
eight small companies of Devlin's big
organization. This was done. and the
meetings of the claimants against
these are set for Wednesday and
Thursday of this week Under the
law each one elects trustee All
the companies can elect the same man
Tor the position, or each one can elect
dlIerent person Had the volun-
tary petition been acted upon then
one trustee for all interests would
nave been elected directly to succead
Mr.. Hurley and Mr. Leland. As the
matter now stands. however. Mr.. Iur-
icy ana Mr. Leland's lives as re-
ceivers are really expired. But the
course OF the matter is very satisfac-
tory 70 everyone. They are handling
the matter to the satisfaction of an
interested parties, and will conse-
quently mold their Offices until the va
rious companies all elect trustees.
~ nat man do You favor for trus-
TeeE was asked Of Mr. Radpes.
''I am not ready to be infervfe7,-s5
on mat point, was his reply ssT will
talk the matter over at The noeef57ie-
Win Mr. Bradley. We will agree on
someone all right. But I don't tbfn5r
tnal tnese trustee elections viii come
ssTB Soon look for continuancas Of