The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1895-01-10
LOOTED THE TREASURY.
State Treasurer Taylor Of South Dakota
q Defaulter to the Amount Of
$353,5oO-skipped.

from Pierre to-day by hon. q. b. Ken
nedy who has been at the state capita
since the opening OF the legislature. Ii
was not surmised for a moment, up te
last Tuesday by the state officials nj
Pierre that anything was wrong with
State Treasurer Taylor as he had tele.
graphed them from New York that be
would be back to urn over the funds on
the appointed day and every one was
confidently expecting him, but when he
did not come, they began to telegraph to
him to learn OF his whereabouts. Fail.
ing in this, the banking house in New
York where the funding warrants were
deposited for payment was telegraphed
TO and it vas learned that not a dollars
worth of the sl95, 900 worth of funding
warrants had been paid. Then the
truth of the situation dawned upon his
trends and the enormisy Of the crime
staggered them. 1t was learned that
Dir. Taylor had been gone since some
time in November, doing most of his cor
respondence from Chicago and New
York. The state moneys at home he
had deposited to his own private credit
In various banks throughout the state
and when he went east he gave out that
he was going to pay off the sl95 900 of
funding warrants in New York. For
this ostensible purpose he drew in large
measure his deposits from these banks
and what was coming into the treasury
at Pierre. Finally, last week, he rave his
deputy at Pierre orders TO lift from the
four banks in that city, $4,000 and FIR
ward 10 him at New York as he wanted
to pay Oft the funding warrants. This
left from n to three or four thousand
dollars in each of these banks. In order
to ward OF suspicion he had from time
to time paid the interest on the funding
warrants and so far as the other state
officers were concerned they expected
nothing else than that he would be on
hand inauguration day. 1t is now COZ
Iectured that the telegram sent the day
before stating that he would arrive in
Pierre by Wednesday, had been sent
from New York by some friend, after
Mr.. Taylor and bis family were aboard
ship sailing away for climes unknown.
1t is quite positively demonstrated that
he was in Chicago "a week ago Tuesday
and was seen there with u friend who
was this week in Pierre and it is gener.
ally understood that there are
parties at Pierre, from Redfield
who seems to have no other occupation
than gather up what lie can in his in
terest. It looks like a clear case oil de-
iberate embezzlement. There was a
time, and that until quite recently, that
w. w. Taylor vas considered an honest
and upright man. 1t is rumored that
he had invested rather freely in ven-
lures which have not realized for him
what he expected to get back out of
them and in attempting to raise the
N 1ney ESTIMATED at 100000 among his
friends he failed, and despairing OF squar-
ing himself with the world he set his
plans to make all out OF the office he
could. The net amount he defaults 10
s353,5O0, one hundred thousand or which
is school fund.
Mr.. Taylor's bond amounted to $780,
DO, signed by seventeen business men OF
and Redteld, but the highest
estimate OF the value OF the bond 10
$4,000, while by far the greater
number who know the men say it is not
more than $4,000. There il left
the state treasury $25 to meet the
expenses of the state until the
irst OF next july.
The bank at Redtield oil. which w. W..
was president and whose term ais
such had just expired, closed yesterday
but this. 1t is said, is only temporarily
as the bank Is in good condition and can
take care of itself. Taylor had 81 900 de
there but recently drew it dill cut
out a small amount. Yesterday morn
.ng the cashier received a letter from
dated neither time nor place.
the bank was sound and hoped
that he 0he cashier) would be elected
presl ent as he Taylor did not expect
that Redtield or Pierre would ever see
him again.
What the state can do under the cir
cumstances is a problem. The treasury
is bankrupt, taxes come in very slowly,
the limit OF borrowing or bonding has
reached aud the limit OF taxation
does not bring much il it tould be col
at NICE. 1t is a bad ~predicament.
is well the Legislature is in session. 1t
will tax their ingenuity ( 0 meet the
emergency. But one thing seems in
evitable. Every tublic institution,
office and function that can be dispensed
with will have to be shut down at once.
There is nc other way out of the diff
Guilty.
Pierre dispatches Of yesterday reveal
fha .pnCof Aortl.ro Gnnrrs.f .~