The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1906-08-01
THEY FIX IT Up.
DevIin Trustees and Receiver
Bradley Compromise.
Agree on Division of Property
Turned Over.
VALUE ABOUT 100000
Real Estate Building and Topeka
Property 60 to Bank.
Mines and Coal Lands Held by
Trustees.
END TO LITIGATION.
Would Have Required Years to
Settle Controversy.
Also Means Large Dividend for
Bank Creditors.
END TO LITIGATION.
Would Have Required Years to
Settle Controversy.
Also Means Large Dividend for
Bank Creditors.

A cOInpr ouliSe has been erected De-
tween the trustees of the Devlin estate
and the receiver of the First National
bank providing for an amicable di-
vision Of $500 000 worth of Devlin
property which had been signed over
to the First National shortly after its
failure by C. J. Devlin.
It was impossible for the bank to
retain fun possession of the property
without entering serious litigation with
the trustees. who claimed that it
showed preference, of the Devlin
estate which would have resulted in a
division in the end and accumulated
costs upon both the bank and the
estate IN the hands Of the trustees. The
litigation would have tied up the
liquidation Of the estate for from three
TO four years according to a man who
is close TO the First National bank $
affairs.
All that the trustees of the DevHn
estate and the receiver of the First
National are waiting for to make an
announcement of the COMPROMISE is
a decree from the United States court
giving authorization. Judge Pollock
would have ordinarily handed down
the decree but since he is away spend
ing his vacation in Canada decree
while the judge was outside of the
United States would have been looked
upon as irregular and Judge Phillips
was applied to, to grant the decree
which is expected within the next ten
days.
IT'S q most happy solution OUT Of
the difficulty, said one Of the inter-
ested parties. "It is the best thing for
s the Devlin estate and also for the
bank The trustees should be con
graduated on entering and effecting
compromise The court would not
have allowed the First National any
more after litigation than is secured
now by the compromise nor would the
amount have been any less
The bank by accepting the com
promise is also q gamer It could not
have secured anything but so much
from the sale Of the property signed
over to it and all above that would
have to go back to the Devlin estate
Then the bank stood to lose from
$4,000 to 10000 which was the
amount of Mrs. Devlin's dover interest
in the property should the compromise
not go through and It came to a law
suit The compromise brought abOuz
what litigation Of several years U7o11Id
have only duplicated"
The estimate placed on the value of
the property is roughly given at
100000
How It Is Divided.
Inc uANAslOIl OIL tnlS property under
the compromise accords all Of the IL
ilnois farm property to the bank and
MI or the coal land TO the trustees
with the exception Of three pieces Of
real estate. said to be the building next
70 the central National bank, the
tnfee lots at the southeast corner of
Eighth avenue and Jackson street the
Real Estate building, and the propertv
at Ninth and Kansas avenue. used for
merly as the Office of the Mount car
IN al { frtrfA farsr1
county property goes to the bank. The
crawford county lands go to the trus-
tees.
In the report of the receivers made
last all the Illinois farm lands hda an
acreage of 1884 acres valued at S1eq
8o7 and with an incunrbrance of s5S
500 The coal lands in the same report
given as Devlin's personal estate were
valued at S40,6f2 with an incum-
brance of S10.8S2
The Shawnee county properfv is
given as worth S1S2 200. with an in
cum brance of S65.96s The citv Dron-
erty is given as amounting to sl61 700
and carries all the Indebtedness. the
farms south OF the city being free.
Tn Crawford county the surface
lands and town lots are valued at
SlZ6-590 with an incumbrance OF
SEQ .6S1.I3. and the coal lands are
valued at S2o7,400 with Indebtedness
Of Sllz,l62 So
AAtcN AASil Estate Building
IN anticipation of securing this decree
there is already active bidding to pur-
chase the rights of the First National
in the Real Estate building The
Knights and Ladies of Sacl1ritv have
entered bid for the property with the
expectation of utilizing it for their head
Offices in this city The present g.
curity building is too small for tbs
needs OF the order and the Real Estate
ouilolng mas met the approval of the
society as ofnce quarters. Private par-
ties are also desirous of ACQUIRING tbe
nuiidIng- IT the Knights and Ladies' Of
Security complete the purchase fbe1-
VIII not erect new building as frsf
announced The title to the building is
considerably involved The onl,- re-
corded title TO the building is in the
hands or G. +. Bolmar. who holds the
property on transfer from P. J. Mona
ghan, VINO purchased the property on :
contract Tor the Knights of Colurnbus-
natlonaI catholic society But the
transfer TO Mr.. Bolmar had no consid-
erauon named IN it so that the raa
ownership OF the building is consider
AMY ciouded. Whoever purchases tn 4
building from the First National dos
It subject TO the incurnbrance an5 tb~
equity held IN the building hy p r
Monaghan The sale Of The h,,ii5irg
viii be held in abey until the des
cree OF the compromise is secured frorl
the court. The compromise is a harnv
solution out of the djf7cll1tta~ - ~t,,,i.
confronted and threatened seriously "A