487101267 48710
national
c87e7c20ad6dcdc8Full suspension, Books examined
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TWO MORE FAILURES ILLINOIS BANKS WENT BUMP IN YMPATHY State Failure of the Topeka Disaster to Two Institutio. nois of Which Devlin Was Pr - Receivers Appointed. Liver the used ersi Wahsington, July 5.-The ComptrolIer of the currency has appointed National Bank Examiner Cook, receiver for the Spring Valley National Bank, Spring Valley, III., and Examiner Macsholt, receiver for the First National of Toluca, Ill. Both failures are due to the failure of C. J. Devlin. their president.
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DEVLIN'S FAILURE WRECKS BANKS Institutions at Spring Valley and Toluca, III., Forced to the Wall. Washington, July 5.-The comptroller of the currency has appointed national bank examiners receivers for the Spring Valley National bank, of Spring Valley, Ill., and the First National bank of Toluca, III., upon information that both institutions had closed. The suspension of the banks was due to the failure of C. J. Devlin, president of both of them. The capital of the Spring Valley Naitonal bank is $50,000, and of the First National of Toluca $100,000.
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RECEIVER APPOINTED. Washington, July 5.-The comptroller of the currency has appointed National Bank Examiner D. A. Cook receiver of the Spring Valley National bank of Spring Valley, III., upon advice received from Examiner Cook that the bank had closed. The comptroller has also appointed National Bank Examiner J. MacSholt receiver of the First National bank of Toluca, III.. upon advice from the vice president of the bank that It would not open for business this morning and a request to have an examiner take charge. The suspension of these banks is due to the failure of C. J. Devlin, who was president of both of them. The capital of the Spring Valley National bank is $50,000. and of the First National of Toluca $100,000.
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Washington, D. C., July The Comptroller of the Currency has appointed receivers for the Spring Valley National Bank. at Spring Valley, Ill., and the First National Bank, at Toluca, III., both having, failure of C. suspended owing to the J. Devlin, who was of president both.
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ILLINOIS BANKS HURT. Spring Valley National and Toluca National Close Their Doors. La Salle, III., July 5.-The Spring Valley national bank closed its doors this morining after a run which began Monday afternoon. The run was precipitated by reports from Topeka, Kas., regarding the condition of President Devlin's affairs. Monday afternoon the Spring Valley bank was called on for $17,000. This was followed by a run by depositors, who drew out $20,000 before the bank closed. This morning the bank did not open. It is estimated the bank's deposits amounted to $500,000. The National bank of Toluca also closed its doors this morning. Devlin was also president of the Toluca bank.
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ILLINOIS BANKS HURT. Spring Valley National and Toluca National Close Their Doors. La Salle, III., July 5.-The Spring Valley national bank closed its doors this morining after a run which began Monday afternoon. The run was precipitated by reports from Topeka, Kas., regarding the condition of President Devlin's affairs. Monday afternoon the Spring Valley bank was called on for $17,000. This was followed by a run by depositors, who drew out $20,000 before the bank closed. This morning the bank did not open. It is estimated the bank's deposits amounted to $500,000. The National bank of Toluca also closed its doors this morning. Devlin was also president of the Toluca bank.
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MORE DEVLIN BANKS CLOSE. Directors Did Not Walt for the Depositors' Impending Run. OTTAWA, III., July 5.-The Spring Valley National Bank of Spring Valley. III., with a capital of $50,000 and deposits of $483,000, and the First National Bank of Toluca, III., capital $100,000 and deposits $230,000, have closed. The suspension is due to the failure of the First National Bank of Topeka. Charles J. Deviin is president of both banks. Both Institutions were prepared to open for business this morning, but long before the hours of opening arrived long lines of depositors were ready to withdraw their funds. The directors, dubious of the outcome, immediately posted a suspension notice. Coincident with the failure of these two banks there was filed in this county a quit claim deed dated June 20 from Charles J. Deviin and Mary A. J. Devlin to the First National Bank of Topeka to all the lands and tenements in La Salle, Putnam and Marshall counties, with the exception of the right of way of the Toluca, Marquette and Northern Railway Company and ten acres known as the Griffith land. The value placed on this property is $350,000. Charles Devlin was born and grew to manhood in Peru, this county, and at one time was a messenger boy for the United States Express Company. He promoted and managed the great mining industries of Spring Valley, and was practically the founder of that city. TOPEKA. Kan., July .-State Treasurer Kelly of Kansas may lose his job because of the publicity given to matters connec ed with Devlin's affairs and the failure of the First National Bank. Among the deposits of the bank was one of $557,000 by the State of Kansas. The law explicitly prohibits State funds being deposited in banks, providing for its keeping in the State treasury. Technically, it is charged that Kelly is an embezzler to that extent until the money is returned to the State treasury. It is shown also that Kelly has deposited $200,000 in banks in Kansas City, Kan., Wichita and Hutchinson, while the law explicitly prohibits the deposit of State funds outside of Topeka. A petition to declare Devlin a bankrupt was filed in the United States District Court to-day on behalf of Kansas City creditors. The claims of the petitioning creditors aggregate $5,000. The effect of the action in bankruptcy will be to set aside the transfers of property which have been made by Mr. Devlin recently, except the transfers of life insurance, which were made payable to Mrs. Devlin.
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RECEIVERS APPOINTED. They Will Take Charge of Two Banks That Have Closed Down. Washington, July 6.-The comptroller of the currency has appointed National Bank Examiner Cook as receiver of the National bank of Spring Valley upon advices received from Cook that the bank had closed. The comptroller also appointed National Bank Examiner J. M. McSholt receiver of the First National bank of Toluca, Ills., upon advices from the vice president of the bank that it did not open for business Wednesday morning, and requested that an examiner take charge. The suspension of these banks is due to the failure of C. J. Devlin. who was president of both. Capital stock of Spring Valley National bank is $50,000 and that of the Toluca bank $100,000.
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Washington, July 5:-The Spring Valley, Ill., National Bank, and First National Bank of Toluca, Ill., both owned by C. J. Devlin of Topeka, have been closed as a result of the failure of the First National of Topeka. Both were small concerns. The capital of the Spring Valley bank was fifty thousand dollars, and the Toluca bank had a capital of one hundred thousand. Both banks had runs made upon them.
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MORE DEVLIN BANKS fail. Two Illinois Institutions Go Down in the Crash. La Salle, III., July 6.-The Spring Valley National bank closed its doors yesterday morning after a run which began Monday afternoon. The run was precipitated by reports from Topeka, Kan., regarding the condition of President Devlin's affairs. Monday afternoon the Spring Valley bank was called on for $17,000. This was followed by a run by depositors, who drew $20,000 before the bank closed. Yesterday morning the bank did not open. It. is estimated that the bank's deposits amounted to $500,000. The National Bank of Toluca also closed its doors yesterday morning. Devlin is also president of the Toluca bank. Topeka, Kas., July 6.-The affairs of the failure of the First National bank assumed a different phase yes. terday when Kansas City creditors petitioned the United States district court to declare Charles J. Devlin a bankrupt. The petition was made returnable July 20 and the effect is to prevent further attachments of Devlin's property and set aside real estate valued at $700,000 which Devlin Monday transferred to the failed bank. The action does not affect the life insurance, which is in Mrs. Devlin's name, and which she insists be left among the assets of the bank.
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MORE BANKS FAIL. Two Devlin Institutions in Illinois Closed. The comptroller of the currency at Washington, D. C., has appointed national bank examiners receivers for the Spring Valley National Bank. of Spring Valley, Ill., and the First National Bank, of Toluca, Ill., upon information that both institutions had closed. The suspension of the banks was due to the failure of C. J. Devlin, president of both of them. The capital of the Spring Valley National Bank was $50,000 and of the First National of Toluca, $100,000.
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MORE BANKS FAIL. Two Devlin Institutions in Illinois Closed. The comptroller of the currency at Washington, D. C., has appointed national bank examiners receivers for the Spring Valley National Bank, of Spring Valley, III., and the First National Bank, of Toluca, III., upon information that both institutions had closed. The suspension of the banks was due to the failure of C. J. Devlin, president of both of them. The capital of the Spring Valley National Bank was $50,000 and of the First National of Toluca, $100,000.
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BANK MAY PAY CREDITORS Receiver of First National at Toluca, III., Makes Report. Washington, July 28.- The controller of the currency has received a first report of the receiver of the First National bank of Toluca, III., which closed its doors July 5. The assets are classified as follows: Good. $110,400; doubtful, $278,200; worthless, $46,000. Liabilities: $303,400, with $124,000 individual deposits.
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PAPER IS BAD TOLUCA, ILL., BANKS "GOOD" AS. SETS TOTAL ONLY $110,400. Washington, D. C., July 28. - The comptroller of the currency has received the first report of the receiver of the First National bank of Toluca, Ill., which closed its doors July 5. The assets are as follows: Good-$110,400. Doubtful-$278,200 Worthless-$46,000 with The liabilities are $303,400 $124,000 of individual deposits.
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TOLUCA BANK REPORT. Shows That There Are $110,395 Worth of Good Papers. Washington, July 29.-The comptroller of the currency has received the first report of the receiver of the First National bank of Toluca, III., which closed its doors on July 5. The assets of the bank are classified as follows: Good, $110,395; doubtful, $278,226; worthless, $46,040; and the liabilities are as follows: Individual deposits, $123,784; certificates of deposit, $169,321; unpaid drafts outstanding, $5,291; rediscounted paper, $5,000. Total, $303,396.
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CONDITION OF FAILED ILLINOIS BANK. Washington, July 28.-The Controller of the Currency has received the first report of the receiver of the First National Bank of Toluca, Ill., which closed its doors on July 5, 1905. The assets of the bank are classified as follows: Good, $110,395: doubtful, $278,226; worthless, $46,040. The liabilities are as follows: Individual deposits, $123,784; certificates of deposit, $169,321: unpaid drafts outstanding, $5,291; re-discounted paper, $5,000. Total, $303,396.
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HARRY TAGGART APPOINTED RECEIVER FOR TOLUCA BANK Washington, Aug. 8. Harry M. Taggart, of Wenona, III., has been appointed receiver of the first national bank of Toluca, III.
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Receiver for Illinois Bank. Washington, Aug. 9.-Harry M. Tagart of Wenona, III., has been appointed receiver of the First National bank of Toluca, III.
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# Three Devlin Suits. The American Oil and Gas company, which was largely a Devlin company, has been made the subject of three suits. All of these were brought Saturday afternoon in the United States district court. James T. Bradley, receiver of the First National, brought suit for $3,000 to recover on a note given prior to the failure of C. J. Devlin. H. M. Taggart, receiver of the National bank at Toluca, Illinois, brings suit on the same grounds, and C. L. Short claims a violation of contract.