Spring Valley National Bank - Spring Valley, IL

1. July 5, 1905 Evening Star Washington, DC

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THE TOPEKA FAILURE Further Particulars Regarding Devlin's Financiering. PETITION FILED TODAY PETITIONING CREDITORS REPRESENT CLAIMS FOR $5,000. Runs on Other Banks Apparently Over -Receiver of First National Begun Work. TOPEKA, Kan., July 5.-A petition to declare C. J. Devlin a bankrupt was filed in the United States district court today in behalf of Kansas City creditors. The petition was filed upon behalf of Thomas Lightfoot, John A. Long and the Long Bros.' Grocery Company of Kansas City, Mo. 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. The transfer of real estate to the First National Bank, which was made by Mr. Devlin on Monday following the closing of the bank, will be set aside, as will also the attachment of Devlin property made later at Kansas City by the National Bank of Commerce. As the real estate which Mr. Devlin transferred to the First National Bank here on Monday was valued at about $700,000, the action begun today on the part of the creditors will reduce the assets of the bank to just that extent. The petitioners represent that when Mr. Devlin assigned his property to the First National Bank of Topeka on July 3 he was then insolvent, and that such transfer was made with intent to make the failed bank a preferred creditor. The petition will prevent the running of further attachments on the Devlin property. It is made returnable on July 20. In the meantime Mr. Devlin may file a confession of bankruptcy or file an answer denying the acts of bankruptcy and ask for a trial by jury. The trustee in bankruptcy, who will be selected by the creditors, would have the power to take charge of the estate and after converting the assets into cash, apportion the proceeds equally among the creditors. When the First National Bank of Topeka, controlled by Devlin, falled on July 3, it was known that the Devlin estate owed both the Spring Valley National Bank of Spring Valley, Ill., and the First National Bank of Toluca, Ill., which closed their doors today, and the suspension of the latter institutions was expected to follow as a natural result. Runs on Bank Stopped. Just what amounts the Devlin estate owes to the two Illinois banks is not known, but it is stated that they became involved in loaning money to build the Toluca, Marquette and Northern railroad, a small coalcarrying road, which Mr. Devlin was constructing to his mining property in that state. This road connects with the Atchison, Topeka and Santa Fe, the Illinois Central, the Chicago, Milwaukee and St. Paul, the Chicago and Alton and the Indiana, Illinois and Iowa railroads. Negotiations are already in progress, it is said, to sell this railroad property, which is considered a valuable asset. PEORIA, Ill., July 5.--D. A. Cook, national bank examiner, who was appointed receiver of the Spring Valley National Bank of Spring Valley, Ill., refused to make a statement today as to the condition of the bank's finances or the amount owed the bank by the Devlin estate. There was no run on the institution when its doors were t closed. Runs on Topeka banks, which started on 1 Monday, following the failure of the First t National Bank, had apparently been stopped when the institutions opened for business today. A small crowd gathered about the First National Bank. but there was no e excitement. All banks from which depositors had withdrawn money on Moni day had further fortified themselves over i the holiday of yesterday, and at each bank s the officials stated that they were better 2 than ever able to meet all demands. e Receiver Bradly of the First National Bank began work today on the books of that concern. but no statement was avails able for publication regarding its condition and none was expected for some time : yet. C. S. Gleed and Clifford Histed, members of the creditors' committee, named at Kansas City, were in the city and held conferences with the bank officials in an en-

2. July 5, 1905 Evening Star Washington, DC

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Result of Devlin's Failures. The controller 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 controller has also appointed National Bank Examiner J. MacSholl receiver of the First National Bank of Toluca, Ill., 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.

3. July 5, 1905 The Fargo Forum and Daily Republican Fargo, ND

Article from The Fargo Forum and Daily Republican, July 5, 1905

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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.

4. July 5, 1905 Bismarck Daily Tribune Bismarck, ND

Article from Bismarck Daily Tribune, July 5, 1905

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IN WAKE OF DEVLIN I Washington, July 5.-The Spring Valley National Bank at Spring Valley, Ill., and the First National Bank at Totuca, III., have closed their doors. The suspension of these banks was due to the failure of C. J. Devlin who is president of both of them, and who has extensive interests in Illinois, Missouri and Kansas.

5. July 5, 1905 The Providence News Providence, RI

Article from The Providence News, July 5, 1905

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MORE DEVLIN BANKS HAVE SUSPENDED 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, Ill., upon advice received from Examiner Cook that the bank had closed. The comptroller has also appointed Bank Examiner J. McSholtz receiver of the First National bank of Toluca. III., upon advices 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 bank is $50,000 and of the First National of Toluca $100,000.

6. July 5, 1905 Rock Island Argus Rock Island, IL

Article from Rock Island Argus, July 5, 1905

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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.

7. July 5, 1905 Alexandria Gazette Alexandria, VA

Article from Alexandria Gazette, July 5, 1905

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From Washington. [Correspondence of the Alexandria Gazette.] Washington, D. C., July 5. Official Washington paid its last respects to the late Secretary of State this m orning at the Church of the Covenant of which Mr. Hay was a communicant. Members of the diplomátic corps and officers of the army and navy in full uniform, bureau chiefs, friends and admirers of the deceased joined in the memorial service. Impressive but simple grandeur marked the exercises and the mourning decorations. The polished oak of the pulpit pillar stood out in bold relief against a background of black. Across the communion table lay a silken flag half unfurled. On each side of the pulpit were huge pots of lilies of the valley, while between the chancel and the auditorium were tributes of orchids, palms, lilies of the valley and roses in profusion. The vast auditorium was filled and in the square about the ivycovered stone edifice hundreds who had been unable to secure entrance, stood with bowed heads. The services were conducted by Rev. Dr. l'eunis S. Hamlin, Mr. Hay's pastor, unassisted. An invocation, prayer, hymn, "For All Thy Saints Who From Their Labors Rest," and scriptural selections preceded the funeral address by the pastor. "Lead Kindly Light," by the quartette, funeral marches from Chopin and Guilmant on the organ and a benediction concluded the services. The Comptroller of the Currency has appointed National Bank Examiner D. A. Cook receiver of the Spring Valley National Bank, of Spring Valley, Illinois, upon advice received from Etaminer Cook that the bank was closed. The Comptroller has also appointed National Bank Examiner J. MacSholl receiver of the First National Bank of Toluca, Illinois, upon advice from the vice-president of the bank that it would not be open for business this morning and a request that an examiner take charge. The supervision of these banks is due to the failure of C. J. Devlin, who was president of both of them, and whose indebtedness to the First National Bank of Topeka, Kansas, caused the suspension of that institution on Monday. The capital of the Spring Valley National Bank is $50,000 and of the First National Bank of Toluca $100,000. Baron Rosen, the*new Russian Ambassador to this country and the peace plenipotentiary, is in Boston for a short stay before he comes to Washington. Although there were quite a number of accidents from the explosion of fire-

8. July 5, 1905 The Topeka State Journal Topeka, KS

Article from The Topeka State Journal, July 5, 1905

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which Mr. Devlin was constructing to his mining property in that state. This road connects with the Atchison, Topeka & Santa Fe, the Illinois Central, the Chicago, Milwaukee & St. Paul, the Chicago & Alton, and the Indiana, Illinois and Iowa railroads. Negotiations are already in progress, it is said, to sell this railroad property, which is considered a valuable asset. Receiver for Spring Valley Bank. Peoria, Ill., July 5.-D. A. Cook, national bank examiner, who was appointed receiver of the Spring Valley National bank of Spring Valley, Ill., was unable to make a statement today as to the condition of the bank's liabilities or the amount owed the bank by the Devlin estate. There was no run on the instituion when its doors were closed.

9. July 6, 1905 The Cairo Bulletin Cairo, IL

Article from The Cairo Bulletin, July 6, 1905

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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.

10. July 6, 1905 The Cairo Bulletin Cairo, IL

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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.

11. July 6, 1905 The Sun New York, NY

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MORE DEVLIN BANKS CLOSE. Directors Did Not Wait for the Depositors' Impending Run. OTTAWA, Ill., July 5.-The Spring Valley National Bank of Spring Valley, Ill., 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. Devlin 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 5.-State Treasurer Kelly of Kansas may lose his job because of the publicity given to matters connected 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.

12. July 6, 1905 The Sun New York, NY

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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.

13. July 6, 1905 New-York Tribune New York, NY

Article from New-York Tribune, July 6, 1905

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DEVLIN CREDITORS ACT. Petition Filed to Declare Topeka Banker a Bankrupt. Topeka, Kan., July 5.-A petition to declare C. J. Devlin a bankrupt was filed in the United States District Court to-day on behalf of Thomas Lightfoot. John A. Long and the Long Brothers' Grocery Company, of Kansas City, Mo. 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. The transfer of real estate to the First National Bank which was made by Mr. Devlin on the Monday following the closing of the bank will be set aside, as will also the attachment of Devlin property made later at Kansas City by the National Bank of Commerce. The petitioners represent that when Mr. Devlin assigned his property to the First National Bank of Topeka, July 3, he was then insolvent, and that such transfer was made with the intent to make the wrecked bank a preferred creditor. The petition will prevent further attachments on the Devlin property. It is made returnable on July 20. When the First National Bank of Topeka, controlled by Devlin, failed, on July 3, it was known that the Devlin estated owed both the Spring Valley National Bank of Spring Valley, III., and the First National Bank of Toluca, III., which closed their doors to-day, and the suspension of the three institutions was expected to follow as a natural result. Just what amounts the Devlin estate owes to the two illinois banks is not known. Receiver Bradley said to-day that it would be ten days before a statement of the bank's assets and liabilities could be made public. He said further that he did not think the State would be a preferred creditor, but would have to take its chances with other depositors in the settlement. Runs on Topeka banks which started on Monday, following the failure of the First National Bank, had apparently been stopped when the institutions opened for business to-day. A small crowd gathered about the First National Bank, but there was no excitement.

14. July 7, 1905 Barton County Democrat Great Bend, KS

Article from Barton County Democrat, July 7, 1905

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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.

15. July 10, 1905 Vilas County News Eagle River, WI

Article from Vilas County News, July 10, 1905

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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.

16. July 13, 1905 River Falls Journal River Falls, WI

Article from River Falls Journal, July 13, 1905

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A roundhouse in the South Nashville, Tenn., yards of the Louisville & Nashville railroad was burned. Loss, $50,000. Nine locomotives were damaged to the extent of $1,000 each. C. J. Devlin filed in the United States district court at Topeka, Kan., an involuntary petition in bankruptcy. The petition schedules liabilities exceeding $2,600,000. James W. Alderdice, a lawyer convicted in New York of forgery, was sentenced to 18 years' imprisonment in Sing Sing. J. A. Spekenhier has been appointed receiver of the Commercial bank, of Hagerstown, Ind., on application of President Frank Mason. The liabilities exceed $100,000, while the assets are given as much less than that amount. Harry Walker, aged 18 years; and Alex. Worrall, aged 12, were dro wned in the Youghiagheny river near McKeesport, Pa. The seventh international conve ntion of the Epworth league was opened in Denver, Col. A tornado in Texas caused much loss of life and destruction of property in Montague county and the northern portion of the state. Twenty-four are known to be dead. The five-year-old son of Samuel Squillman, of Seymour, Ia., and the fouryear-old son of a neighbor, George Billard, were burned to death in a fire which destroyed Squillman's home. Herman Meminger, chief of the Milwaukee (Wis.) fire department, died from the effects of injuries sustained at a fire two months ago, when it was reported he inhaled acid fumes. Fred Ross, who was knocked out by Jack Donnelly in the sixteenth round of a prize fight at Aberdeen, Wash., is dead. His neck was dislocated and a blood clot gathered on the brain. Three railroad employes were killed and two injured and thousands of dollars' worth of property destroyed by a head-on collision on the Fitchburg division of the Boston & Maine railroad near Wachusett, Mass. Gen. Amasa Cobb, brigadier general of volunteers during the civil war, veteran of the Mexican war, congressman and ex-justice of the supreme court of Nebraska, died at Los Angeles, Cal, aged 82 years. The formal opening of the twenty-second International Christian Endeavor convention took place in Armory hall, Baltimore, Md., with about 8,000 delegates present. Mrs. Lucie B. Tyng, one of the bestknown temperance workers in the United States, died in Peoria, III. The new directory indicates Chicago's population to be 2,272.000. The weekly crop report shows that growth has been retarded by heavy rains, but the condition of corn in the corn belt is excellent. The money circulation July 1 was the largest per capita and in amount in the history of the country. Bank note issues in the past year were larger than the new gold increase. Most of the Chicago indicted packers, their agents and the companies in which they are interested have furnished bonds. Gov. Hanly's crusade against bookmakers has put an end to horse racing in Indiana. Samuel Thompson, a Chicago coffee importer, says the scheme of an eastern clique to have a tax imposed is a market manipulation to secure $12,000,000 profit on stock. Graeme Stewart's will, dividing an estate of $500,000 between his widow, children, brothers and sisters, was filed in Chicago. The Spring Valley (III.) national bank and the First national bank of Toluca, Ill., closed their doors as the result of the failure of C. J. Devlin, of Topeka, Kan. S. L. Frazer, of Chicago, when asked for an accounting by his partner in the brokerage business suddenly fled, leaving an alleged defalcation of $100,000. The Wabash Railway company has discharged its superintendent of the secret service department and 121 men employed in detective work. Fourth of July casualties reported throughout this country number 42 deaths and 2,431 injured. Loss of life variously estimated at more than 200 and less than 1,000 persons, and property damage to the extent of over $1,000,000 were caused by the recent flood which swept over the town of Guanajuaro, Mex. John Bowman, cashier of the Commercial bank of Hagerstown, Ind., committed suicide by shooting. No cause for the deed is known. Ten business houses and one dwelling at Roulette, Pa., were destroyed by fire. entailing-a loss of $50,000. The insurance was small. The American revivalists, Rev. Reuben A. Torrey and Charles M. Alexander, concluded their five months' revival campaign in England with a great thanksgiving service at Albert hall, London, for the 14,000 converts recorded. In view of the bad harvest prospects owing to the drought and the storms in Portugal, King Charles has sanctioned the importation of 75,000 tons of American wheat and has ordered the reduction of the customs duties by 50 per cent. The heat, which continued several days throughout central Europe, has caused, it is estimated from the reports now coming in, more than 100 deaths in Germany. At midday in the shade the temperature has been as

17. July 13, 1905 The Cooperstown Courier Cooperstown, ND

Article from The Cooperstown Courier, July 13, 1905

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ILLINOIS BANKS CLOSE. The Topeka Failure Causes Suspension of Institutions at Spring Valley and Toluca. La Salle, III., July 6.-The Spring Valley national bank closed its doors Wednesday morning after a run, which began Monday afternoon. The run was precipitated by reports from Topeka, Kan., regarding the condition of President Charles J. 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. Toluca, Ill., July 6.-As a result of the failure of the First national bank of Topeka, Kan., the First national bank of Toluca was closed by order of the directors Wednesday morning. Crowds of depositors were on hand early and the closing caused much excitement, especially among the miners. Rumors to the effect that of they did not get their money to-day they would blow up the bank were current. Sheriff Barr arrived with half a dozen deputies. Officials of the Devlin Coal company assured the miners that if they would be patient everything would come out all right. As near as can be learned the liabilities of the bank on July 1 were $290,000, while the assets were over $450,000. It is believed every depositor will be paid in full. Topeka, Kan., July 5.-By closing its doors Monday the First national bank of Topeka threw into liquidation the $7,000,000 estate of C. J. Devlin, in which several Chicago banks are heavily interested. The comptroller of the currency has appointed National Bank Examiner J. T. Bradley receiver of the bank. According to a recent statement the First national bank of TopeKa owed depositors $1,390,000. Of these depositors the state of Kansas has over $500.000 in deposits, the city of Topeka $39,000 and the county of Shawnee about $30,000.

18. July 14, 1905 The Ely Miner Ely, MN

Article from The Ely Miner, July 14, 1905

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ILLINOIS BANKS CLOSE. The Topeka Failure Causes Suspension of Institutions at Spring Valley and Toluca. La Salle, Ill., July 6.-The Spring Valley national bank closed its doors Wednesday morning after a run, which began Monday afternoon. The run was precipitated by reports from Topeka, Kan., regarding the condition of President Charles J. 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. Toluca, Ill., July 6.-As a result of the failure of the First national bank of Topeka, Kan., the First national bank of Toluca was closed by order of the directors Wednesday morning. Crowds of depositors were on hand early and the closing caused much excitement, especially among the miners. Rumors to the effect that of they did not get their money to-day they would blow up the bank were current. Sheriff Barr arrived with half a dozen deputies. Officials of the Devlin Coal company assured the miners that if they would be patient everything would come out all right. As near as can be learned the liabilities of the bank on July 1 were $290,000, while the assets were over $450,000. It is believed every depositor will be paid in full. Topeka, Kan., July 5.-By closing its doors Monday the First national bank of Topeka threw into liquidation the $7,000,000 estate of C. J. Devlin, in which several Chicago banks are heavily interested. The comptroller of the currency has appointed National Bank Examiner J. T. Bradley receiver of the bank. Topeka, Kan., July 7.-C. J. Devlin filed in the United States district court an involuntary petition in bankruptcy. This action was decided upon at a lengthy conference between Mr. Devlin and his attorneys. Mr. Devlin was in favor of the move because it would centralize the handling of all his properties and make easier the settlement of all his creditors, the principal one of which is the First national bank. Judge Pollock granted the petition.

19. August 1, 1905 Grant County Herald Lancaster, WI

Article from Grant County Herald, August 1, 1905

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Receiver for the Spring Valley Bank. Washington, Aug. 1.-Judge Harvey M. Trimble, of Princeton, Ill., has been appointed receiver of the Spring Valley National bank, of Spring Valley, III., and Charles Andrews, of Brazil, Ind., has been appointed receiver of the Vigo County National bank, of Terre Haute, Ind.

20. August 1, 1905 New-York Tribune New York, NY

Article from New-York Tribune, August 1, 1905

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RECEIVERS OF BANKS APPOINTED. Washington, July 31.-Judge Harvey M. Trimble, of Princeton, III., has been appointed receiver of the Spring Valley National Bank, of Spring Valley, Ill., and Charles Andrews, of Brazil, Ind., receiver of the Vigo County National Bank, of Terre Haute, Ind. The Controller of the Currency has received the first report of the receiver of the Spring Valley National Bank. which closed its doors on July 5. He classifies the assets of the bank as follows: Good. $57,108 doubtful, $463,569. The liabilities are as follows: Individual deposits, $50,203. certificates of deposit $374.028

21. October 21, 1905 Ottumwa Tri-Weekly Courier Ottumwa, IA

Article from Ottumwa Tri-Weekly Courier, October 21, 1905

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DEBTS ARE A MILLION CONDITION OF DEVLIN PROPERTIES IS SHOWN BY INVESTIGATION Topeka, Kansas, Oct. 20.-The report of the receivers has just been filed in the United States district court here and it shows the assets of the various properties of C. J. Devlin, who failed last July, to be $4,956,948, and direct liabilities $4,592,208. There is listed $1,039,379 contingent liabilities. Should it be necessary to pay these, the liabilities will exceed the assets by $674,639. The condition of the Mt. Carmel Coal company controlling the Illinois mines was a particular surprise. This was supposed to be Devlin's present property. The report shows the assets of this company are $331; liabilities $1,500,000. The receiver says: "No account has been taken in the above report of the claim made by the receiver of the Spring Valley, Ill., National bank that to that trust belongs the purchase of $167,000 bonds of the Toulon, Marquette and Northern Railroad company and $5,000 bonds of the Marquette, Spring Valley and Northwestern Railroad company."

22. January 1, 1906 The Topeka State Journal Topeka, KS

Article from The Topeka State Journal, January 1, 1906

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Business Failures Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29-Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 7-Coe Co., Minneapolis; liabilities, $200,000. Apr. 3-Ladoga, Ind., bank; assets $80,000, liabilities $109,000. 24-Canton, O., state bank closes Lexington, Okla., First national bank falls. 26-Barberton, O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 23-Vicksburg, Mich., exchange bank. 26-Knight, Donnelly & Co., Chicago. 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, III., national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities, $125,000. 19-Spring Valley, O., bank closes. 20-City national bank, Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 21-Western bank, Louisville, Ky.; due to overloans. Sep. 19-Minot, S. D., national bank closes doors. Oct. 6-Peoria (I11.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Ch'cago. Chicago National, Home Savingsand Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank, Memphis, Tenn., close doors; first named in liquidation.

23. February 12, 1906 The Topeka State Journal Topeka, KS

Article from The Topeka State Journal, February 12, 1906

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DEVLIN DIVIDEND. Spring Valley Bank Depositors Receive 20 Per Cent. Spring Valley, III., Feb. 12.-Receiver Harvey M. Trimble of the defunct Spring Valley National bank, of which Charles J. Devlin was the president, has begun paying out the often promised 20 per cent. dividend. The depositors, mostly poor laboring men, will receive $85,000. These had on several occasions gathered about the bank entrance expecting some of their money back, but were as often disappointed. Among them were some who were loud in their threats against those connected with the bank and it was feared the more desperate might resort to criminal measures to get even. However, this payment has changed the situation greatly and there are hopes that .another 20 per cent. dividend will be made before the year is over.

4599. Spring Valley National Bank (Spring Valley, IL)

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