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The knowledge that the business was to be turned over to others was the cause of a slight flurry in financial circles in Topeka this morning. Mr. Devlin is interested in the four largest banks in Topeka and at all of them there were withdrawals of deposits though nothing like a run occurred at any of the banks. Mr. Devlin is more largely interested in the First National than in any other here, owning more than two-thirds of the stock and being a large borrower, and it was this institution that, as a consequence, felt the greatest burdenof public disquietude. The bank was kept open ten minutes after the closing hour to enable all who wanted to take their money out to do so but there was no excitement. W. H. Rossington, a director of the First National, was in charge owing to the illness of C. E. Hawley, the cashier, and he announced at noon that the institution is in no danger. The New Organization. The Devlin Coal and Mining company which has been organized to take over the varied interests and holdings of C. J. Devlin will have a nominal capital of $1,000,000, the stock of which will be held by the associates and friends of Mr. Devlin. It will be a close corporation organized under the laws of Missouri and no stock will be placed on the market. It is simply a holding corporation designed to. maintain intact the property for the benefit of the family and the creditors of Mr. Devlin alike. The capitalization was fixed at that amount with the knowledge that the issue would enable the procurement of efficient available cash to carry on the needs of the varied interests at stake. The directorate, it is understood, is composed of Mr. and Mrs. C. J. Devlin, J. Willis Gleed, Chas. S. Gleed, Chas. S. Downing of the Central National bank, W. A. Rule, cashier of the National Bank of Commerce, Kansas City, Mo., and Mr. Clifford Histed of Kansas City, Mc. The following statement was made today by a man familiar with Mr. Devlin's affairs: The illness of Mr. Devlin and the report of his condition brought on the crisis. Essentially Mr. Devlin is a man who keeps but few books and burdens his brain with the transactions of his business. In consequence the relations which existed between his many companies was not intrusted to paper. Each of the companies has head who looks after the details una der his immediate management, but the relations which exist between companies, their dovetailed charwas left to no man's memory or other than that of acter, those keeping Mr. burden, Devlin himself. All of this heavy this strain on the mind, finally told the superb mental qualities of upon Mr. Devlin and brought on cerebral paralysis. A physical as well as mental breakdown ensued. Then came down with it the loss of the master hand in charge of the vast business to The business commenced show data. the lack of the presence of its owner. "Affairs between the companies were becoming addled. Each of the companies from an individaul standpoint indoing well and carrying on its them was that leash which held to. a central guiding inter-relationship was common terests but The hand Then was begone. coming muddled and destroyed. of business associates and friends with the the millionaire coal operator met holdhim and advised him to form a take corporation which should ing the management of these properover ties and retain the central management. "Mr. Devlin agreed readily to the and turned over his property holdings. plan The plan was a conserva- inof both family and creditors' tion terests. The crisis also brought on a imperative need of realizing takes the large amount of money, as it
