The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-10-23
Receiver Bradley DisallOWs
States Claim to Preference.
Depositors VIII Ask HOch t.
Stop Contention.
1T TIES UP THE CASH.
Enough in Sight to Pay Creditors
10 Per Cent.
Committee Is Considering Ques-
ton This Afternoon.

The states claim as a preferred
creditor of the First National bank
has been disaIowed by Receiver J. T.
Bradley, and the matter has been
passed up to Comptroller of the Cur
rency Bidgely at washington, D. c.,
for settlement Should the state be
dfssa tfsded with the decision the claim
viii then be aired in the courts. This
is just what the creditors are fighting
against, not so much that they fear
that the state may win its contention
as that it win tie up the matters of the
bank so that there viii be no hope of
dividend for several years to come.
Whether the state intends to fight the
matter in the courts should the opinion
of Comptroller Rldgely be adverse is
a matter for speculation. The state
has involved S568,51Q-65.
Depressing news was received Sun
day by Congressman Charles Curtis
from VIM. B. Ridgely, the comptroller
Of the currency, when he was notified
that no dividend could be declared for
several months to come and that the
whole matter of a dividend was open
to question. This is in line with Re
ceiver Bradley's announcement. The
only information which was specific
related to the amount of money, cash,
which was in the hands or the comp
troller- The letter shows S196, 6,775.1S
$1,167.S2 in the hands of the receiver,
a total of $197,942.5O. The letter fol-
lows
LAS requested by your recent visit to
10 the First National bank of Topeka
KAN that there is cash in the hands Of
the comptroller amounting to 1856, 775.1S
and that there was cash in the hands of
the receiver as reported Sept. 30, Sl16I.32-
The condition OF this trust VIII not JUS
tity alVldend at present. owing to the
large amount Of claims made for prefer
encess and the probability Of collecting
some doubtful claims within the next
sixty days. it is not probable that a diva
deud viii be declared within that time
Probably a substantial dividend will be
declared within the next three months.
The assets Of the trust, however. are in
such doubtful condition that any forecast
"EV1E & RIDGEIlY. CsornDtroIIesI,s
Several Of the depOsitors of the bank
took the news calmly this morning but
there were great number who were
plainly greatly disappointed: they had
been hoping that the statement would
tend to show that dividend would be
declared right away
The S197, 600 would result in a dividend
Of on n 10 per cent and would relieve a
considerable number of those Of the
depositors to whom the question of Sc
curing a livelihOd is a very serious one.
Realizing that the only matter of any
size which intervenes between that divi-
dend and the depositOrs is the attitude
Of the state on the matter of a prefer
GlAICa LIE QEpuSALOLH committee Will wait
on Governor Hoch and other state Of
Gals and ask them to give over their
1ght for preference.
VIII Appeal to HOcI.
For the sake of common decency,
atop your agitation that the states
claim in the First NationsI hank is 11re-
1erreds is the text which the depositOrs'
committee Of Topeka will personally
preach to Governor Hoch, State Trea-
surer Kelly and Attorney General Cole
man in a few days.
That is one of the things to be con-
sldefed IN our meeting this afternoon, -
said Mr.. Radges this morning. the
chairman OF the committee. I'VE will
call on the state officials and ask them
to forget the idea entirely that the
states claim of S547, 900 is preferred.
Why should the state try and get all
OF its money first, when there are lots
OF poor people in Topeka who are suf-
dering for necessities. 1t is not right
that the state should even ask for it,
Tt would be an outrage to grant it. Why
should the matter be agitated at all?
Tt VIII take years possibly to settle the
matter If it should finally be taken
into the courts We have to quiet that
matter down and will call on the state
officials for that purpose"
To Enlist Senator Long.
senator chester 1. Long win be in To-
peka on october 26 and the deDOsitOrs'
committee has an appointment with
him here on that date for the purpose
OF enliSting his aid in securing infOrrna-
ton about the bank. Congressman Cur
us and Assistant Secretary of the In
terror Ryan have already pledged to do
all in their power.
State Isn't Consistent.
The state is not consistent in its
contention" said Judge S. H Allen.
OF the depOsitors committee. "Thev
have brought suit against the trust
company to collect on Kellv's bond
and they acknowledge by so doing
that their fund in the bank has not
peen set aside but that it is in danger
OF belng lost Yet on the other hand
they are making claim that their de-
post is and should be a preferred
claim BY bringing that suit against
tne pond company they apparently
take the stand that the money was
lawfully on deposit. By making the
claim that it should be preferred thev
seem to stand on the ground that it
was not on deposit These two uOsi-
tions are inconsistent
THE stat is amply protected
Ihey nave this surety bond Thev
should recognize the fact that if they
attempt TO htigate this matter ii viii
tend to involve the whole D7atta,. II,
litigation and each creditor win Then
De trying to get the best of the other
and the whole estate win be frittered
away. If the state litigates ii viii
mean that the estate is tied nm for
the next year or two and no 5iI-i7an5
viii be paid in the interim The state
can afford to pass UP this and lef Inc
dividend be paid as soon us possible. 'i
Declare Dividend Now, Says Radees
There is no reason why 2. dividand
should not be declared right now.
said Radges. ''If the depositors have
to wait until all these preferred claims
are SeLEieQ IN court it will result in the
greatest injustice Imaginable A div1-
dend at this time would help a great
deal. People come to me every day
IL the week and inquire as to when
think something viii be done. a