Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-02-19
M'KINLEY RUINED.
FINANCIALLY INVOLVED TO THE Ex-
TENT or BANKRUPTCY.
Worth Only $40, 900 or $50, 900. He Owes
Now ut Loast SIS. 900 a. Endorssr
for Friend.
lBy telegraph to tho pisps,ch.l

CLEVELAND, February Ex-Governor Mo-
Kinley passed through Cleveland this after
noon. When asked by United Press re-
porter what he could uay regarding the
Walker failure at Youngstown, which Is
said to seriously involve him financially,
the Governor replied: ~ do not know
anything moro about it than was published
in the morning papers. do know that IL
il bad enough. But it is an entirely pri-
sate matter. and must beg to be excused
from an interview"
TIE GOVERNOR nRoKES-HEARrED.
YOUNGSTOWN, o., February 1S.-Governor
Mckinley left here this morning for Co
lumbus. utterly broken-heartod. The
Walker failure is growing. as far as liabili-
ties are concerned, and 1t is now known
that the Governor il surety for at least
$4,000 worth OF notes given BY Robert
Walker. The Governor does not know
how much the notes will aggregate nor
which ones have been paid. He placed
implicit confidence in Walker, who never
hesltated 10 use him. The Governor IS
not worth more than $4,000 or $4,000.
and the payment of these notes will leave
him financial wreck.
The MIsFoRTUSE.
The original story of Governor McKin-
ley's misfortune was embodied IN the tol-
lowing from Youngstown, o.:
sensation was caused among businessmen
this afternoon by the failure OF Robert l.
Walker, who has for long time been promi-
nent figure hero, occupying a neat residence in
the suburb called Poland. The failure will not
only leave Walker peLnilese but will nearly
bankrupt Governor Mckinley. his lifelong
friend. Tho two have been Ike brothers Tor
years, and when Walker began making invest
aaVfa In IN
pany and other properties he asked the
Governor 70 endorse some notes, and the
favor was granted Since that during the last
five years. tho Governor has endorsed largo
amount Of paper, sffix,ng his signature at the
request OF Walker at any and oil times Tue
result 81 this is that Governor Mckinley, who
was called here suddenly to-day, nnds that no -
on al least $4,000 OF the paper OF Mr., Walker,
and the figures may run still higher. The Gov
ernor said tonight: "Al desire TO say for pub
LEGATION ie this: | will pay every dollar OF Paper
that have signed for Robert L. Walker as fast
as it natures Every obligation will be promptly
met"
The Governor decided 10 remain here attend
ing to business in connection with the Walker
failure, and viii not attend tho meeting OF the
Ohio Society In New \ DIRK tomorrow night. The
assignment Of Walker TO "HAL" X. Taylor, son
OF Congressman l.. b. Taylor, Was hastoned by
the Second National Bank securing Judgment
against tho ounggtoWn Stamping Company, OF
which Walker IA president, for 1000 to-day,
| and Sheriff Orr Immediately placing an
| execution on the plant Following the
execution, ". c. Hine was appointed re-
ceiyer Of tho Stamping Company. Whom this
concern was started cons ierabIe money was
needed. and u was borrowed In small amounts
| from Cany banks and private individuals. Mr..
Walker, as president OF the c0ucern, borrowed
| largely on his private account. AMI put 'he
money into the plant. Aside from his liabilities
! In the stamping company OF $4,000. his other
| Indebtedness will amount 10 more than 100000
| The failure is one Of the most disastrous that
has occurred in the Mahoning Valley for a de-
cRde. Mr. Walker Is nj home too III 20 be seen
but promises 20 furnish tomorrow statement
| OF his financial condition.