The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-07-03
DepOsitOrs Waited in Vain for
Doors to Open.
Notice Posted at Five Minutes
Before Nine.
SIGNED BY ROSSINGT0N
Comptroller of the Currency Has
Been Notified.
c. ]. Devlin Turns Topeka Prop
erty Over to Bank.
WHY THEY GAVE UP.
Could Not Raise Enough Money
to Meet Demands.
Claimed DepositOrs Will Be
Paid in Full.
National Examiner Bradley Is
Appointed Receiver.
National Examiner Bradley Il
Appointed Receiver.

At five minutes before 8 o'clock this
morning, the following typewritten no.
tice was posted on the front door of
the First National bank:
This bank is closed by my order
The comptroller of the currency has
been communicated with and will
send examiner who will make state
ment. W. III. ROSSIN GTON,
''Vice President"
Topeka, Kan, July 3, 1905"
Washington, July 3.-The CONN.,
troIler of the currency has appointed
National Bank Examiner j. Il. Bradley
receiver of the First National bank,
Topeka. Kas., upon receipt of advices
from the vice president of the bank
that its doors had been closed.
A crowd of three or four hundred peo-
PIE, many Of whom were depositors, read
this notice and quietly dispersed. There
was no great amount of excitement.
As early as o'clock this morning, it
was evident that the First National was
in for run. People began to line I'D
In front of the building, and three or
four policemen were detailed to keen
the crowd in order. Through the front
employees and some of the officials walk
ing about in the rear room. There was
no evidence Of any intention to open the
doors. There were no books on the
desks, no money in sight and no hustle
of preparation to pay off the depositors.
Hence the rumor was prevalent through
the crowd that the bank would not open
for business. and no particular surprise
was expressed when the notice was act
ually posted.
About one-third of the crowd at the
First National bank was composed of
women. The women took the situation
with as much cornposure as did the
men. however, and there was no weep
ing when the notice went up.
While the crowd was collecting in
front of the First National a smaller
crowd assembled on the steps of the
Central National. The Central National
opened promptly for business, and the
rush OF depositors was quickly paid
off. The people at the Central National
who withdrew their money seemed to
be mostly savings depositors. There was
also considerable of a furry at the Bank
of Topeka.
At the Merchants National bank
there were but few people doing any
business. At the State Savings there
was a small gathering. The North To-
peka banks were not affected. The fact
that the Monday morning business is
usually heavier than other mornings of
the week served to scare a few timid
depositors into the idea that a run was
in progress.
DepositOrs May Be Paid.
1t is claimed, however, at this time
that the bank is fully solvent and that
the creditors will be paid in full The
closing of the bank hinged upon the in
ability of the Topeka banks to extend
enough aid in addition to the refusal of
the banks in Kansas City, Missouri, to
come to the rescue of the First Nation
al. The Central National bank and the
Bank of Topeka both stood ready to
help but on condition that the Kansas
City banks should extend aid. A wire
was received by the First National bank
from Kansas City stating their inabiI-
ity to come to the rescue. The answer
was terse and no particular interpreta-
tion of the refusal could be construed
At eight o'clock the crowds COM
menced to loiter around in the vicinity
of the First National and across the
( street from vantage points where opera
/ uons could be viewed. In the crowds
| were curiosity seekers as we'll as in
terested depositors. At S:15 there were
some Is patrons of the bank waiting for
the doors to open and at nine o'clock
this number had been increased to fully
IT'S. They hung around and pressed
o'clock the statement made by w H
Rossington, director and vice president
of the bank. was affixed to the door
Anxious faces pressed close up to the
glass doors to read the statement and
then turned away. The press continued
and at $3.50 gradually grew less. The
people took the statement philosophical
and with as much optimism as could
be expected. Few words indicative OF
,chagrin or grief were made and the re-
marks were simply passing in their ma
ture. The groups was divided among
the large and small patrons alike. The
face of the large as well as the small
depositor was seen in the press. One
man had $4,000 and but a few fee
away was a small bootblack with saw.
ings of a few dollars
Could Not Save Bank.
The holding corporation which wal
to take over the properties of Mr.
Devlin will be permitted to lapse. The
corporation which was to be estab.
lished primarily to save the First Ma
tional bank will be suffered to laps.
unless it is found on further examina.
ton that it is best to establish such al
organization. Mr.. ]. w. Gleed, whs