The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-01-06
M. t. Polk, State Treasurer, a Defauiter to
the Amount of Four Hundred
Thousand Dollars.
The Money Supposed to Have Been
Lost in Grain Speculation.
The Delinquent officer a Nephew of Presi-
dent Polk and n Graduate of West
Point-Other Grimes.
POLK'S DEFICIT.
The Discovery Made by a Committee of the
Tennessee Legislature.

Inc discovery Made by a Committee of the
Tennessee Legislature.
NASHVILLE, Tenn, Jan. 5.-The legislative
committee appointed to investigate the
office of the State Treasurer, reported this
morning that the Treasurer had been out of
the city two days and his clerk was not pre-
pared to make a statement of the accounts,
The commission reports a deficit in the treas
ury OF 100000, and, after consultation
with the bondsmen of the Treasurer, recon-
mends a suspension of the business of his
office for the present.
The announcement from the State Capitol,
this morning, of the deficit in the State
throughout the city. Following is the report
of the legislative committee:
'The joint select committee to settle with
the Comptroller and Treasurer report that
they have visited the Office of the Treasurer,
and, upon inquiry, find the Treasurer away
from the capital, and that he has been away
Tor two days, and they are not advised when
he will return. His clerk states that he can
not go into a settlement of the Treasurer's
accounts till his return. They also have in
formation from the bondsmen, or some of
them, that the condition of the treasury is
such that they feel justified to recommend
that the workings of the treasury be stopped
until ad examination can be had"
The Senate adopted tue ioiloaing Joint
resolution:
Whereas, The Senate hos reason 81 helass
that M Polk, present treasurer il defRuitat
for about $500, 600; and
Whereas, The bono given by sad 7Tloef 6
not sufficient in amour 20 seeura sHiu ae1ciN
therefore, be it
"Resolved, by the Senate and House of Repre-.
State be and is hereby instructed to attach,
instanter, all available assets belonging TO said
NJ; T. Polk, provided that sufficient grounds
exist, TO the end that the same iuay be held for
the satisfaction of said defnit."
THE BoNDsMEN A SKETCH OF POLK.
The State Treasurer's official bond was for
100000. His bondsmen are: William NJ.
and A. r. Duncan, of Newell, Duncan & Co,
brokers; Max Sax, cashier of the Nashville
Savings Bank; William Morrow, former'State
Treasurer; Will Polk and J. E. r. Carpenter,
all of Nashville; ]. K. Polk, f. T. Allison
and R. r, Cole, of West Tennessee, and A, S.
Horsley, of Columbia.
At the last extra session OF the Legislature
a bill was introduced to increase the bond of
the State Treasurer, but it was stolen from
the desk OF the clerk of the Senate the night
before it was to come up Tor final passage,
which was the day before the time fixed for
final adjournment of the Legislature.
The amount OF the deficit in the treasury
cannot be accurately ascertained until a thor
ough investigation is had. One of the bonds
men, who has been examining the accounts.
says'they show, thu far, a deficit OF $3.50, 900.
The same bondsman says the Treasurer's
hnnEC and II0 M NJ n = $40 - A. k--l-
show a discrepancy of $50, 900. Just before
Christmas the Treasurer drew out of the
bank of Pulaski S., 900. The State funds
were distributed in various banks at Nash
vile, Knoxville and Memphis. The missing
funds are supposed to have been lost in spec
ulation in bonds and stocks, or loaned to
personal friends engaged in speculation in
bonds and stocks.
Treasurer Polk left Nashville on Wednes-
day, and was last heard of at Milan,
Tenn, from which point he wrote
back that he would return on Sunday. His
family here do not know of his whereabouts.
Treasurer Polk is f~fty-one years old, a grad
uate of West Point. and served four years on
the frontier. He was a captain of artillery
in the Confederate army, in Cheatham's di-
vision, and lost a leg at the battle of Shiloh.
He afterward served on the staff of General
Leonidas Polk, to whom he was related. AT
ter the war he resided on a farm near Boil
var, Tenn, until elected Treasurer, six wears
ago. He was a nephew of the late President
Polk. He has a large family, and occupied a
high social position in this city and State.
Colonel Polk left the city on Wednesday
afternoon via a Northwestern train, with a
trunk checked for Milan, Tenn. A letter
dated Milan, Jan. 4, was received from him
by his clerk, Mr.. Fleming, last night,
Governor Hawkins, in reply to an inquiry
if steps would be taken for his APP
prehension, said no application had been
made for his apprehension, and
therefore his action will depend upon the
character of the application when it is made.
The books in the Treasurer's Office are in
good condition, and the only question is as
to the amount of the deficit, which can be as
certained in to-morrow's investigation in q
comparatively short time.