The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-04-02
A Legislative Committee Says Mary
lands Treasurer is a Defaulter
Beyond All Doubt,
Tho Case Left With tho Governor,
Who Will Proceed Against
the Offender.
The Amount of the Deh,lcatlon May be
More Than Half u Million --Archer's
Former Popularity.

ANNAPOLIS, Nd, April l.-Tho special leg
islative committee 10 investigate the ac-
counts Of Treasurer Archer, have drawn up
paper informing Governor Jackson that
there is sufficient proof that the treasurer is
defaulter. They lenye the case to the
governor for action against Archer for NAL
feasanoo.
Archer's stealings mny reach the enorm-
Gus sum of three quarters of n million of
dollars or they may dwindle down 10 one
quarter that amount, but tho claim OF his
friends that he has not inappropriate"
over $4,000 finds few believers. Archer was
also the custodian of number Of trust es-
tAtes which were committed 10 his care be-
fore he became state treasurer, and there
are grave fears thnt these also have been
plundored. This apprehension is strength
enod 10y the fact that he was continually in
quest of money, which he said was wanted
for friends.
Colonel Victor l.. Bnughman. the comp
troller of the treasury and an intimate
friend of Archer mndo the discovery that
the state Treasurer had hypothecntod secur-
tiles about a week ago. and 30 informed the
governor. All the state officers were called
in consultation, an effort being made to
learn the extent of the defalcation. Colo
mel lBaughman called upon Archer and in
tlmntcd shat something was wrong. but
Archer insisted with considerable feeling
that everything was secure. When the gov
ernor learned of this he asked Colonel
Baughman whether he was sure of his facts.
| Upon tho hitter answering in the aiiirma-
tive IL was decided % demand of the treasur-
or the key 10 the box containing the secur-
tiles. Archer. however. very promptly de-
clined 10 give IL up IL was then determined
that matters had gone far enough.
and message was sent TO the legisla-
ture.
Archer could readily have hypothecated
also the securities entrusted 10 his care
Until 1874 the law authorized the treasurer
90 invest the money belonging 10 the sinking
fund in state securities. In that year this
was repealed and the treasurer was autho -
lied to invest IN other securities than those
of the state, II state securities could not he
purchased. Under that law certain outside
securities had been purchased. and we're in
the hands of the treasurer. About the be-
ginning Of the session the governor had a
conference with Archer and Gen. Seth about
the insecurity of these Investments. as a
man desiring 10 do 40 had nothing 10 pre-
vent him from putting them in his sachel
and making way with them. There u.s. or
was. S2OO,00O in the sinking fund, all in
negotiable bonds. The Baltimore A Ohio
stock. owned by tho state, amounted, per-
haps 10 $40 900 more. In case all the bonds
were hypothccated. the shortage, at most,
cannot exc ed $4,000, and il may be much
less.
Thus far il has been asccrtained that the
National Mechanics bank and the National
bank of Baltimore, hold Archer's paper, but
they decline to give the amount. These
notes aro secured by Piedmont n Cumber-
land bonds and by treasury relief bonds,
and an officer of the clearing house believes
that AN investigation will bring TO light the
fact that many coupon bonds have been
hypothecated in banks throughout the
state. Archer became chairman Of the
democratic state central committee in 1887.
In that capacity he came in contact with
the leading public men of Maryland as
we'll M many Of the citizens. Prior to this
he had served IN the state Legislature, in the
national house of representatives aud on
the bench of the Cecil county court. He ~
a lawyer of high standing and member of
n prominent Maryland family. He is
sixty-two years old. His social qualities
are such that men rather loved than liked
him, aud amid all the mud-slinging of a
dozen heated campaigns no word of re-
prOnch or bitterness was ever dropped
against him. During each campaign he
spent much time in Baltimore and was a
familiar figure on the streets.
| 4 roasurer Afchef's son came 20 the Qoy-
ernor's Office 90 day and handed in his
by statement from Archer that he is per
sonally responsible for any shortage. aud
that no blame attaches to any of his subor-
dinates. The governor was not Rt his Of
fee to-day and IL is not known what action
he will take.