Savannah morning news. [volume] (Savannah) 1868-1887, 1883-01-06
TENNESSEE'S TREASURY.
OUT FOUR HUNDRED THOUSAND
DOLLARS.

Treasurer Folk leone Wrong',-The
Money Thought to Have Been Lost
On StOcks-Deficiencyo of the Bond--The
Bill to Increase 1t Stolen-An Honored
Name Disgraced.
NASHVILLE, Jan. 5.--The announcement
from the State Capital this morning of a
deficit of $4,000 produced a genuine SEN
sation througho she city. The following
is report of thS legislative committee:
''The joint select committee to settle with
the Comptroller and Treasurer report that
they have visited the office of the Treas
urer, and upon inquiry find that the Treas
urer is away from the capital, and has been
Tor two days, and they are not advised
when he will return. His clerk states
that he cannot go into settlement of the
Treasurers accounts until his chief re-
turns. They also have information from
his bondsmen, or some of them, that the
condition of the Treasury is such that
they feel justified in recommending that
the work OF the Treasury be stopped until
an examination can be had.''
The Senate adopted the following Joint
resolution Nv hereas, the Senate has reason
to believe that NJ. T.. Polk, the present
Treasurer, is defaulter for aBuHt S4O0.-
900; and whereas, the bond given by said
officer is not sufficient in amount to Sc
ResoIUed, by the Senate and House of
Representatives, That the Attorney Gen
eral of the State be, and he is hereby in
structed to attach instantly I'll available
assets belonging TO said NJ. L. Polk, pro-
Vlded that sufficient grounds exist, to the
end that the same be held for the salts
faction of said deficit.
| The State Treasurer's official bond was
for one hundred thousand dollars. His
IN ne NJ N
can, of Newell, Duncan & Co., brokers.
Max Sax, cashier of the Nashville Savings
Bank, VIM. Morrow, former State Treas
urer, William Polk and j. E. r. Carpen-
ter, all of Nashville, and j. X. Polk, f. Il.
ID. Allison and II. p. Cole. of
! West Tennessee, and A. S. Horsley,
OF Columbia. At the last extra session OF
the Legislature bill was introduced to
increase the bond of the State Treasurer,
but this bill was stolen from the desk of
the Clerk OF the Senate the night before
It was to come up for final passage, or
the day before the time fixed for the final
| adjournment of the Legislature.
The amount of deficit in the Treasury
cannot be accurately ascertained until
after thorough investigation. One of
the bondsmen who has been examining
the accounts, say they show thus far a
deficit of $3.50, 900. The same bondsman
at one of the banks show a discrepancy of
over $4,000. just before Christmas, it is
said, he drew out of the Bank of Pulaski
$4,000. The State funds were distributed
in various banks at Nashville, Knoxville
and Memphis. The missing funds are
supposed to have been lost in speculation
or loaned to personal friends engaged in
speeulations in bonds and stocks.
Treasurer Polk left Nashville Wednes-
day and was last heard of at MILAN,
Tenn, from which point he wrote back
that he would return Sunday. His family
here do not know his whereabouts.
Treasurer Polk is tifty-one years old, a
graduate of West Point and served four
years on the frontier. He was
Captain of artillery in the Confederate
army in Cheatham's division. He lost a
leg at the battle of Shiloh. He afterwards
served on the staff of General Leonidas
Polk, to whom he was related. After the
war he resided on farm near Bolivar,
Tenn, until elected Treasurer six years
ago. He was a nephew of the late Presi-
dent Polk. He has a large family, and
occupied high social position in this city
and State.
The Democratic and Greenback men,
bers of the Legislature held caucus this
forenoon and agreed to act together on all
questions of party policy, which will, of
course, affect the Senatorial succession.