The times. [volume] (Richmond, Va.) 1890-1903, 1893-02-22
MklNLEY A BANKRUPT.
EVERY DoLLAR MUST GO ro psy
hNoTHER's DEBT.
The Governor Denies the Report That us
Intends Resignlng-Hl. LA
bilities 100000.

CHICAGO ILL., Feb Ex-Governor Me-
kinley Is made a bankrupt by over-ndel.
ity to the interests Of a friend. He has
asked ii. II. Kolsaat of this city 10 act
as trustee. and may be compelled 10 r..
sign the gubernatorial chair Of Ohio ana
begin an active practice OF law. Ths
conference which led 70 Kohlsaat'S s..
lection as trustee was held in Cleveland
Sunday evening II was found that N.
Governors liabilities are S95 OOO. aSsnma.
bly, five times as large as the amounts
he has saved during the forty nine years
of his life.
Mrs. Mckinley has property which will
probably net $1,000 IL sold under m.
hammer. She proposes to turn ,his over
to Trustee kohlsaat. She is an invalid.
and her fortune came as a legacy from
her father. Her friends protest against
her allowing her means 10 20 10 cancel
the Governors debts incurred bv another
man but she insists Thus both become
penniless. They lose their Canton homs.
and all their household goods. Mrs. Me.
Kinley's farms and all 90. 80 that In
poverty they begin life again.
CLEVELAND, o.. Feb. N.-Goyernoy
Mckinney says there is no truth I'm ths
report that he may resign the governor
ship; that he has az no time contem-
plated resigning.
YOUNGSTOWN, O.. Feb. 2i-A state-
ment was furnished this morning as a
result or the inyeStisation into the affairs
Of Robert l.. Walker. showing that he
amount OF paper on which Governor Me-
Kinley is indorser is fully 100000 and msy
reach $4,000. Experts assert that the
total liabilities Of the Governor will NOT
exceed the latter figures. The statement
startles the friends OF the Governor. %
II was not believed az any time ttat he
was on to exceed SSoooo Arrangements
are being made 70 promptly pay all the
Mckinley paper.
Robert Walker this morning resigned
as president OF the Farmers National
Bank OF Poland and the Glrard Savings'
| Bank. Both institutions are perfectiv
| solvent, ard have experienced no excite-
! me lt among depositors since SATURDAY..
A stookholder OF the stamping works
OF which Robert L. Walker was president
says: The affairs OF the works are not
In such a bad condition as one would inn
agine. l have considerable stock in the
| concern. which I would sell al par. and
not a cent less. OF course. II the works
| were compelled TO shut down now IL
| would be doubtful II the concern could
| pay its debts. However. II II is permitted
| to run, as it undoubtedly will, the af-
| fairs of the company viii be settled up,
| and dollar for dollar viii be paid. The
| glass department will resume operations
| very likely, and the material on hand
| will be worked up. and then the Depart
ment will be closed. This will give the
stamping department glass enough. with
| the amount already on hand, to run until
rha aeafy fg ri %
statement for the creditors, which Will
be ready in a short time"
Mr.. KOhsaat. In an interview this
| morning, said the news was correct. and
as the transactions between Mr. McKin-
ley and himself had been made public. he
would tell the story Of the calamity.
He considered II one OF the most un-
fortunate things that had happened with-
In his memory. He said:
Mr. Mckinley Is the victim OF most
aggravated treachery. lie never knew
to what extent he was becoming involved.
because he trusted implicitly in the good
| judgment Of his friend. The exposure OF
his fasity completely unneryed the VIC
tim, and while political reverses were
| accepted as a part OF "A political life, he
| IS almost unable 60 endure the present
| crash. But honest man that he always
has been, he sadly told me he would begin
| again. and no man should lose cent who
lent him money by reason OF his name.
"It is probable Myron r. Merrick. treas.
| urer OF the Society of Savings OF Cleve-
| land, VIII act with ne as trustee. At
present Il is not possible 20 say how the
| financial end Of the calamity will be set
| tied. The Governor will turn over every
| penny he has, but this will only be a
drop compared with the aggregate iiabil-
| tiles He said his wife was thoroughly de-
| cided TO help him out with her own means,
| which think will amount to about $4,000
II sold at auction. The possessions con-
| sist Of farm land near Canton and soma
other unimproved property. However. all
Of il will not cover the debts, since when
left Mr.. Mckinley we figured at least
$4,000 liabilities and they are increasing
hourly.
THE Governor will retire from politics.
since he cannot hold office and again get
up financially. He Sad he would begin
his law practice again. and make II MIS-
object IN life to pay al that he has been
dragged into owing. His affairs are a
complete wreck, the failure taking the
modest home and contents Friends of
Mrs. Mckinley. heroic woman that she is,
declare she must not put up her fortune 10
the mercy Of creditors. Just what Will
be done on her part is not yet decided.
She is positive one way; her friends are
equally decided the other. dispatch
received last evening says Mrs Mckinley
is with her husband In Cleveland. and the
parties were In conference as TO ina2
action"
"WiIl he Governor resign"
We'll, II is hardly possible 10 see what
else he can do. II Will be quite necessary.
since he proposes 10 settle dollar for dol
lar. and there is no money In being Gov
ernor Of any State. He once had a good
practice, and his brilliant reputation will
| add 10 IL "