Show aftermath of the failure of debbin so held paper of the BagiS rapS noa evidence of fraud kansas alty mo juino the city national bank failed to open its doors today the bank held paper of G J devlin of topeka to the amount of upwards of and the failure is the direct result of the closing of tho first rational bank of topeka of suder was jhc thc principal borne time ago the comptroller of the currency at washington instructed the officers of the city national bank to repair its capital this was done by borrowing from a local capitalist following the failure of the first national ank at topeka the kansas city capitalist became insistent upon repay re pay ment of his loan and this demand caused the officers of the city national to decide upon closing th belr institution the only bank in kansas city which was caught in the failure of the first national bank of topeka was the american national bank which is said to hold upwards of devlin paper it was stated positively today to the associated press by a leading banker that the other kansas city institutions would not permit this bank to fall there was no appearance of a run on other kansas city banks at the opening hour today the city national bank was organized in 1900 and is one of the youngest of the national banking institutions in the city its capital is and it has deposits of its officers are edward crebo president james G stream cashier john moore vice president charles A loomis second vice president the bank was closed by E E ames bank examiner under instructions from the comptroller of the currency the comptroller yesterday it is said in the officers of the bank that it must take or they would not be permitted to open today the bank was examined last night by a committee of local bankers who reported at a early today that the affairs of the bank were in such shape that they would not feel justified in extending assistance although the city national bank was not a member of the local clearing house association that association it was stated by one of its officers today would have extended aid had they not found so much bad paper although the holding of devlin paper upon which no immediate realization could be made was the prime cause of the failure it is stated that the general knowledge that the bank held other bad naper and was in a weakened condition had led to a gradual withdrawal of deposits at no time has a run of any big proportions been on but it Is stated withdrawals had been made quietly for several months and that within sixty days had been taken out the majority of the banks depositors are persons in medium circumstances two thirds of whom live outside kansas city there was no excitement at the doors of the bank when the close notice was posted today less than a dozen depositors appearing to withdraw their money from another source it was ascertained that when the city national bank was ordered to repair its capital several months ago the needed funds were borrowed not from a local capitalist it but from certain new york banks but what institutions was not disclosed examiner ames said today that it would be impossible for him to talk at this time either regarding his statement or other affairs of tho bank the bank officials likewise declined to issue a statement now later edward crebo president of the tailed bank said our bank had a large amount of C J devlins paper this was of uncertain value and tho chances to realize on it seemed so remote that we decided it better to close the bank and liquidate its accounts our depositors were mostly in country towns we did not carry much kansas city money I 1 can give no alg ures now as to the banks condition edward crebo who is a railroad con of the citizens president tractor Is also bank of eureka kan and tho farat national bank of toronto kan the city national bank has a varied experience in its five years existence it has had tour abts of officers and upon numerous occasions ane comptroller of the currency has called upon to repair its capital better conform in other ways with or the banking laws it was organized organised sed in 1900 and with a capital of last winter the capital was reduced to later the capital was increased from to charging off all their surplus NO HEAVY LOANS washington july 20 the acting comptroller of the currency in a statement the closing issued today regarding bank of kansas national of the city city says that no loans exceed ing the limit of 10 per cent of the banks capital are shown by the last report of the condition of tho bank at the close of business on may 29 confidence GAME played a part in which a clairvoyant chicago July 20 dr walter I 1 metcalf president of the beaver falls mining company with offices in chicago and W C barrott Dar rott secretary and treasurer of the company have been arrested on warrants charging that they obtained money by means of a confidence game dr Met calt who 13 a practicing physician and la well known in medical circles and barrett were released upon bonds the attention of the police was called to the case in a letter written by robert aard of chicago who invested in stocks of the chicago adirondack gold mining company which formerly occupied the present offices of the beaver falls mining company mr aard replied to an advertisement of a clairvoyant who informed him that his hand signs of great wealth in speculation the clairvoyant then referred him to the chicago adirondack dolfl mining company aard invested in the stocks he said he had no returns on his investment and tha money paid by him was not used as represented i |