Fergus County argus. [volume] (Lewistown, Mont.) 1886-1946, 1893-03-02
GOVERNOR M'KINLEY's MONEY
Swept Away By the Failure Of Friend

GOVERNOR MKINLEY-s MONEY
Swept Away By the Failure Of Friend.
YOUNGSTOWN, o., Feb. ia sensa-
tion was caused in business, financial
and manufacturing circles today by
the failure of Robert l.. Walker, a
prominent banker and capitalist, who
made an assignment for the benefit
of his creditors. The failure will be
widespread in its effects, involving
Gov. Mckinley, and the indications
are now that every dollar OF property
owned by the governor will be swept
away. As near as can be estimated
the liabilities will reach 100000.
The failure is due to investment in
properties and enterprises requiring
a large outlay OF money that have not
been as yet productive. From boy
hood Gov. Mckinley and Walker have
been the closest personal friends, and
the governor endorsed Walker paper
frequently. The amount is not known
but is supposed to be large.
The Girard Stove works, in which
Walker is large stockholder. failed
tonight. Liabilities 100000, assets
unknown.
CLEVELAND, Feb. 2O.-Gov. Nc
KInley arrived today from Youngs-
town. He would not discuss the fail
ure Ci Robert Walker further than to
Sag lie believed it would be as bad as
!i...s reports Inadeit. A dispatch from
YOUNGSTOWN lays the governor is on
iti:i.sae.'.i : iJ.tJer for at least 100000
ALL 10 declares he will pay every dol,
.i.-rNi i..a amount before the paper
natures. Mckinley was called upon
at the hotel 10y host of friends to,
day, and many of them rendered
financial assistance, but which 1t Is
said was refused.
CLEVELAND Feb. 21.-Gov. McKin-
ley ha- decided to remain in Cleveland
until Thursday. He was to have de.
livered an address tomorrow at Gen
ii yes memorial services at the Ohio
Wesleyan university in Delaware, but
the crushing blow that fell upon him
in the failure which swept away his
fortune, rendered it impossiblefo for him
to prepare and deliver an address. III.
has been waiting here to learn the ex-
tent of his liabilities as indorser foi
Robert Walker before making any ar
rangements to satisfy the holders oi
nstes bearing his name. 1t is stated
today that his liabilities will reach
100000. Gov. Mckinley was shown
a dispatch sent out from Chicago this
morning regarding the appointment
of trustees to take charge OF his and
Mrs. McKinley's property in which the
announcement was made that he
would resign the governorship and re-
sumo the practice of law. To press
, representative the governor said
"You may state that will not resign
my office and return to the practice ol
my profession. l stand ready to turn
over all my property to pay notes
bearing my endorsement, and Mrs
Mckinley joins me in desiring to give
up her property also"
The governor would not discuss the
trusteeshIp. There has been some
gossip about the subject, and it is said
that if trustees are appointed they
will be II. H. Kohlsatt of the Chicago
Inter Ocean, Col. Myran L. Herick ol
this city, a member of the governor s
staff, and Judge VIM. Day of Canton
Ohio, all personal friends of Gov. Nc
KinIey. These gentlemen, ifappointed
would endeavor to dispose of the
property of Mr.. and Mrs. Mckinley sc
mill ha t0 hn snl6 tln6ar
the hammer. III disposed of to good
advantage it might rerlize a sum suf.
ficient to satisfy all claims of the
creditors. In any event, however, the
governor and his wife will be left prac'
tically penniless, for he insists on
turning over every dollars worth oi
property he possesses. He is worth
not to exceed S25, 900. His wife.
property is valued Mt S65, 900, which
was left her by her father.
CLEVELAND, o., Feb. ga plar
for the adjustment of the financial
affairs of Governor Mckinley was de
cided upon today at conference o
some of the governors friends. A
statement was received last nigh
showing that he had endorsed note.
for Robert E. Walker aggregating Owe
100000. The total amount may b.
S11S,OOO. Mr. Kohlsatt arrived il
Cleveland this morning in company
with Hon. Nj. il. Hanna, of Chicago
This afternoon they repaired to tn
home OF Colonel Herrick, where tn
governor and Mrs Mckinley wer'
staying. There were present at tn,
conference besides AIessrs Kohlsaa
and Hanna, Gen. j. l.. Botsford O
youngstown, Col. Herrick, James II
Hoyt and ID. p. Ellis of Cleveland ant
Judge VIM. r. Day OF Canton. Gov
Mckinley expressed desire to max
AN assignment of all his property ant
Mrs. Mckinley insisted upon doingth
same with hers. The plan AS finall.
decided upon is as follows: The gov
ernor makes an absolute and unquali
fled assignment of all his property t.
Herman H. Kohlsatt, Myron Il. Her
rick, and Judge VIM. r. Nay. 1t is
general assignment without reserva
ton, dedicating all the governor
lproperty to the equal benefit OF hi
creditors without preference. Gov
Mckinley determined upon this cours
for the reason, among others, that h
feels certain that these trustees, VIII
are gentlemen of ability in bushes
affairs can realize more from hi
estate for his creditors than he hin
self possibly could.