The Dakota chief. (Gann Valley, Buffalo County, S.D.) 18??-1913, 1895-01-17
The state Treasurer Missing.

~
PedGeld s. D, Jan. Especial: Tn
most startling failure that has ever
@curred in South Dakota or the north
vest was revealed this morning in tho
,avs received from VIM. Walter Tay-
| 1ar. the outgoing state treasurer. and
PRESIDENT Of the First National bank
md the Northwestern Mortgage TruS
oompany, Of this city, that he would not
anrcar to make his settlement at
| pierre with his successor, Treasurer
/ er.r, Phillips. of Deadwood. The news
| and the closing of his bank here came
| like 4 thunder clap from a clear Sky,
| because both Taylor and the financial
institutions with which he was con-
1 nected were regarded as solid and re-
liable beyond question. News from
/ pierre shows that no money is held
4 There to the credit of the state trCa1-
| urer. and none is held in the bank here.
Il is estimated that about $3.50, 900 IS
/ missing with Taylor. Aside from the
4 financial loss the action of Taylor is a
/ shock to all who nave known and done
business with him and the financial
enterprises with which he has been
/ connected in past years. He and his
/ ertarprise here have handled many
/ thousands Of eastern capital, and his
bank here has always been regarded
\ as one Of the safest institutions in the
\ state.
on Tuesday morning his bank
/ opened for business as usual. Cashier
f. W. Humphrey informs The
/ correspondent that the bank held 80
per cent of its deposits in cash and in
bonds Of approved reserve agents east.
There was a quiet run on the bank
\ Tuesday by parties who had their sus-
/ picions aroused by private information
/ from Pierre that Taylor had not
shown up there and that something
was wrong.
Claims Depositors Are Safe.
The bank officials decided to close the
institution subject to examination by
the comptroller Of the currency, n
that official was notified at once. The
/ action was taken for the protection Of
the bank n its many depositors.
/ Cashier Humphrey declares that de-
positors will be paid in full as o as
tie government examiner concludes his
examination, as there is an excess of
fully 500 600 in good paper and besides
81 per cent. deposited in other banks.
4 The bank here is not compromised
\ fna, Tally by Taylor's defalcation. 1t
is lied authoritatively that after the
eXalI nation Of the bank and it's credit
is Restored it will r~corganiZe and open
III ,for business.
Taylor was last seen in Chicago ON
January 4 by a citizen OF this place,
rs went from Chicago to New York,
since which time no information has
been received as to his whereabouts,
and it is not known whether the state
or his bondsmen have been protected
in any way or not by him. No bank
elsewhere is involved. Pierre banks
and withdrew their deposits from the
bank here before it closed.
4 Tell Tale Letter.
The following letter was received
Wednesday morning, January 8, under
date of January 6, by the bank here.
The envelope was postmarked New
York. January 6. 1t will throw impor-
tant light upon the matter and settle
all doubts as to Mr.. Taylor's disappear
ance:
Dear Frank: l am compelled to in
form you that l will not return to Red
Held or Pierre. l have counted on friends
assisting in making up my settlement
with the state, and felt hat it would be
lone until the last few days. 1 feel re-
lleyed to know that the First National
or Redtield is not in any way rightfully
compromised by my misfortunes, and
nope that its patrons will believe you,
as they should, for YOU have kept the
Dahks affairs in a good, safe condition.
4here Is no reason WIN the bank should
not continue it's business. 1 offer no ex-
uses for my condition, although l have
many and believe myself. Yours truly,
wv. w. Taylor"
II develops that a plaster mortgage
reached Redlield Wednesday morning
ana was duly filed in the register of
deeds office transferring to a company
al chicago all his real estate and chat
tels in this city and Sphinx county.
next to the state the blow falls terri.
Sy hard on his principal bondsmen,
VINO reside here. They qualified In
sums representing all they have in the
world. The entire city used the bank
ior a depository, hence the news has
paralyzing effect on everyone.
1aylor is about IL years old, married,
nut has no children. He came to Red
aeid from Lafayette, Ind, about the
iali OF 1885 and opened up a banking
business, He soon secured the entire
ueld' two banks here going out of bust
ness. Taylor got into politics and Sc
cured the nomination for state treas
utef at the republican convention at
Mitchell in 1880. and in 1892 secured the
rehomlnation for the same office at
Madison. As an indication of his gen.
FraI standing heretofore in the state
ana the utter lack Of suspicion as to
my questionable designs il is noted
mat Gov. sheldon pays a compliment
% Iaylor's efficiency in his message to
the Legislature.
comptroller Eckels has wired that
examiner Zimmerman has Deer or