The Hocking sentinel. [volume] (Logan, Ohio) 1871-1906, 1905-08-10

Kansas has experienced in dozen years,
accompanied by political upheaval of
seismic force. 1t was upon the brain OF
Charles ]. Devlin that the clot formed.
just before his enormous monthly pay
roll was duo, and no other man in Kan
sas could have brought on so much trou-
ble by falling ill as Devlin did.
In the first place he was rated the
richest man in the State up TO the hour
that the bursting of a tiny blood vessel
in his brain caused an apoplectic stroke,
his fortune being estimated at $1,000
600 to $4,00O.UO0. Then, his interests
were so diversified and geographically
scattered that crowding 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 20 other
corporations. among them two railroads
The affairs of these 30 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 ra-
tional gsess as to where they were. In
few days they struck the rocks.
A Unique Figure.
Deyln is a unique figure in finance.
He is St Louisan by birth, 81 years of
age. As young man he was clerk IN a
coal office and eventually he became man
ager of small coal company in north
ern Illinois. In 1889 he was made man.
ager of the fuel properties of the Santa
Re system, and when that company went
into a receivership Devlin leased its coal
properties. He acquired mines in Hi
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. lie spoke
as pleasantly TO 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 Devlin. Another marked trai
was his desire to see young men sue
ceed. He gave them chance wherever
he could. He lived in a pretty home
with splendid flowers, and other evidences
of good taste, but no exclusiyeness. H'
enjoyed sitting on the porch and havin:
| the children rOmp on the lawn.
Work was his recreation and he wal
a yeritable engine. He was the busies
man in the West But he had no faiti
in bookkeepers and stored all the details
| of his business in his head. Most o
his concerns were making money. but al
| were relying upon him as the motiv
power TO keep them in operation. Hi
| credit was large. State Treasurer hell.
had $4,000 stored in one of his bank
the First National of Topeka.
A few weeks ago he gave out and wa
| forced TO his bed. His mind became
| mazt and he could not plan few day
ahead. When Devlin's brain stoppe'
| working, his enterprises had to cease op
| Grafton, for there was no one Ill the har
| ness who knew which way to turn. Thre
| of his four banks are i'll the hands o
receivers. 15 of his 26 corporations ar
in bankruptcy, hundreds of bank deposit
! ors are seeking return of their savings
| hundreds of coal miners are fearful les
the Devlin mines shall be closed an
throw them and their families into tn
clutches of want and the people of tn
State are in fever of excitement o.
account of the probable. The total liza
bilities of Devlin are estimated at So
0G0 600