The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-02-22
MRS. M'KINLEY'S SACRIFICE
She Will ImpOverish Herself to Pay the
Debts of Her Bankrupt Husband.
Her Private Fortune of $75. 900 to Go TO Meet
Liabilities of Over 800. .O00-Base
Treachery of Supposed Friend.

CHICAGO, Feb. Ex-Governor Mckinley.
made BANKRUPT by over.fidelity to the in.
terests of friend. has asked H. III. Kohl
saat. of this city, to act as his trustee. 1t
is also reported that he may be compelled
to resign the governorship of Ohio and be-
gin the active practice of law. The confer
ence which led to Mr.. Kohlsaat's selection
as trustee was held in Cleveland Sum-
day evening 1t was found that
the Governors liabilities are $4,000,
sum nearly five times as
large as he has saved during the forty
nine years of bis life. Mrs. Mckinley has
property which will net probably $4,000 if
sold under the hammer. She proposes to
turn this over to trustee Kohlsaat. She
is az invalid, and her fortune came as a
legacy from her father. Her friends pro-
test against allowing her means to go to
cancel the Governors debts incurred by
another man. but she insists. Thus the
two become penniless. They Will lose their
Canton homo. and ell their household
goods. Mrs. Mckinleys farm and all will
90, so that in poverty they begin life again.
Mr.. Kohlsaat. in an interview this morn
Ing said the news was correct, and. as the
transactions between Mr. Mckinley and
himself had been made publIc, he would
tell the story of the calamity. He consiG-
cred 1t one of the most unfortunate thin gs
that had happened within his memory. He
said: "Mr. Mckinley Is the vic tim of most
aggravated treachery. He never knew to
what extent he was becoming involved be-
cause he trusted implicitly in the judg-
ment OF his friend. The exposure
of his falsity completely unnerved
the victim; and: while political re;
Q political life, he Is almost unable
TO endure the present crash. But. honest
man that he always has been. he sadly told
me that he would begin again and no man
reason of his name.- 1t is probable Myron
]. Merrick. treasurer Of the Society of Saw
ings, of Cleveland. will act with me as
trustee. AT present 1t is not possible to say
how the financial end of the Gala nifty will
every penny he has. but this will only be
drop compared with the aggregate iiabIli-
ties. He said his wife was thoroughly de-
cided to help him out with her own means
sboSs wsSs $4,000 sApf Il .od %1 as sm0ans auction to
The possessions consist of farm land near
Canton and some other improved property.
However, oil of 1T will not cover the debts
since when l left Mr.. Mckinley We Inquired
creasing almost hourly. The Governor
will retire from politics. since he cannot
hold Office and again get ND financially.
He said he would begin his law practice
again and make 1t his object in life to pay
all that he had been dragged into owing
His affairs are q com plete wreck. the failure
taking tho modest home and it's contents.
The friends of Mrs. Mckinley. heroic won.
On that she is. declare she must not put
her fortune at the mercy of creditors. Just
xrh hot hn nm haR W 10 v,n&v v-af
decided. She Is positive one way: her
friends are equally decided the other"
"Will the Governor resigni"
well, it is hardly possible TO see what
else he can do. 1t will be quite necessary,
since he proposes to settle dollar for dollar,
and there is no money in being Governor
of any State. He once had q good practice
and his brilliant reputation will add to it,"
Governor Mckinley VIII Not Resign
CLEVELAND, Feb. Ex-Governor McKin-
ley is still at the home of Col. NJ. T. Her
rick, in this city. arrfhginG the business
complications resulting from the Walker
failure at Youngstown. The Governor was
seen this morning and questioned in regard
to the report that he may resign HE Office
as Governor of Ohio. He says most posi-
lively that there is no truth In any such re-
port; that he has at no time contemplated
resigning his office. The Governor. under
the present embarrassments. is showing
what q grand man he is. He made O small
fortune before he went to Congress. and
he has added nothing to 1t in fecent years.
ALI of that will be swept away. In all the
years In which he has served the people he
has been 80 scrupulOusly honest thar he
has allow ed TO pass by many opportunities
for mOney-making.
A dispatch from Youngstown, o., says
"A statement as result of the investiga-
tion into the failure of Robert l.. Walker,
shows Governor McKinley's liabilities TO
be from 800 600 TO $4,000. The statement
was a surprise to the Governors friends
as IL was believed his liabilities would not
exceed $4,000. Arrangements are being
madsto take up all of his paper. Mr..
Walker has resigned as president of the
Farmers Bank Of Poland and the Girard
Savings Bank. Both institutions are per-
fectly solvent"
Governor Mckinley has decided to re-
main in Cleveland until Thursday. He
was to have delivered address tO-mor-
row at the General Hayes memorial serv-
ices st Ohio Wesleyan University. in Della
ware but the crushing blow that fell upon
him last Friday In the failure " hich swept
away his fortune rendered IL I'm possible for
him to prepare and deliver the address
He has been waiting here to learn the ex-
tent OF his liability as indorser for Robert
Walker before making any arrangements
to satisfy the holders of the notes bearing
his name. 1t is stated to-day that his liza
bility will reach if it does not exceed
100000 Governor Mckinley said to a re-
porter: II stand ready to turn over all nv
property to pay the notes bearing my in
doreement. and Mira. Mckinley joins me In
desiring to give MP her property elsov