West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1888-11-01
HEAVY DEFALCATION.
Treasurer Axworthy, OF Cleye-
land, Gone With $500, 900.
Supposed to Have Squandered the
Money in SpeCulations.

Iicamrer Thomas Axworthy, OF Clevc-
land, Ohio. is in Canada, aud $500, 900 OF
the city OF Clovoland's cash Is missing IIe
has been gone three weeks hut this was no
new thing, rs he was interested In lake ship
ping and Lake Superior iron mines. and was
President OF tho Ohio and Pennsylvania Coal
Company. Hedld littls OF the routine work of
the lrcasurcrs Office, but was needed iast
week whom bids from tho local hanks for thA
care OF the citys money wore opened and
fe.ectcd "Nhero is ANworthyp was
common question In political and business
circles In New York was the answer His
bondSnsn, J. II. Wade. Jr., aud Senator III. -
iayne, having become uneasy, were discov-
cred In session with Estop D.ckey and
Squlros, their attorneys, in such way
as TO lead TO suSpcions that Axworthys
absence was boing discussed. The session
was an nll.night one. aud next morning two
SUITS IN attachment. ona for EOl,OOJ and
the other Tor S2A,UOO were fled ON all tho
the property Of Axworthy by j. H. Wade,
Jr. and Henry H. Payna
Tho news that the suits had begun created
a panic IN business circles. Axworthys
d ous'ness associates admit that he Is gone. and
oro hastily seeking TO mike themselves
safe That most Of the money has
Rono IN speculation there Is no doubt,
lhough Axworthy is said 10 have taken
Sll0ool IN cash with hiu. 10 Il
supposed that no was in tho battle aRainsp
Hutchinson In the Chicago wheat deal and
lost there SS0O0CO, ami that another SiOO, 900
went IN copper fluctuations His available
property is valued roughly at sgOO0O).
Tic owes the city SOO 900, aud about S4OO-
GOO OF IL s said 10 bc ON dep sit now Mrs
ANworthy aud his children nro M the family
summer residence ON the lax shore, and only
Know ot Axworthy's whereabouts through "A
oablcgrnm received last Saturday from l. v
cfpool, where one OF Axworthy's daughters
IL known 90 bc. It snys:
Para Is in Canada Tell mamma don't
worry.n
Tiis gives rise 10 the suspicion that the
missing Treasurer mny be in England.
10 Is known to hayo left the Windsor
Hotel, New York, tho evening OF Sen.
temter - for Montreal II no went
TO hngianl was by Canadian
steamer I hc town is full OF wild rumors ns
to the extent OF Axwortbyis defalcation It
is certainly $500 OOl and may be n full mil
lion Cnl, his bondsmon and their lawy, "a
can tell how much ID is, and they win not
fny.
Nearly all his largo interests arc IN bal
shape His o'egant house on tho lake shore
Is said TO 10 virtually sold Axwortby's
bond was for SjOO,OUU Two days before ho
left he drew sums averaging $40, OJO from
three OF the local banks, but left 800 0OO ON
deposit
Portly, handsome man. filty.two years cd.
he came from Philadelphia In 1897. aud
soon made a hit in commercial circ es, Efst
rs Hhippng and coni agent and later as a
ship owner and iron ore merchant II,
speculatod nt all times but was CON
dered shrowd and safe investor
OF late years LO GOT into politics an |
was Three timos elected Treasurer. Ho de-
cined nomination for Congress In ths
Twenty first district month ngo. He was
a'Eo prominent In sporting circles, leing n
director OF several shooting clubs and OF the
Cleveland Driving Park Company. He was
also formerly a member of the Board OF Rs.
view Of tho National Trotiiug Association.
~ ihe City Hall confusion reignsd Tue
small reserve in tho treasury was soon ex-
haused, Gnf at noon payment on two war
rants was refused There wns no more money
and ~ was impossible 90 draw on the funds
IN hank, which had been tied up by order OF
tho Court The nance Committee OF tho
Common Council was hlstily summoned
ate in the afternoon ID was nnnOuncosl
that OF the SbiG.SSt turne1 over TO the
Treasurer AMI 10y him depos tel In bank
only s417 400 remains on deposit. The
shortage, therefore, amounts TO S490, ,435
q This sum II easurer Axworthy is believed
lo have taken at least 10000 In cash with
hiT.
The po,ic0 pfns'On fund and the flromen
relief fund which were unsecured bv bonds
nTe gone, and over slg2 90 of the Board OF
du, nticn fund goes into tie shortage. It's
lclievcd tlat Axworihy's vessel properly
rnd real estate viii inventory nearly 800, OUr
end the Lcndemen nre secured. I he city
VIII probably lose nothing NJ tie bonds Gro
C,oL