The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-10
All His Real Estate and Personal
Property Transferred Before He
Fled from Home.
LETTER FROM NEW YORK
INDICATING THAT THE EMBEZZLER
IS SOMEWHERE IN THE EAST.
His Bondsmen and Many Tradesmen
in Straits-OhiO Bank Robbed of
$4,000 by Burglars.

REDFTELD, S. D., Jan. 9.-Probably the
most startling failure that has ever oc-
CURED in South Dakota or the Northwest
was revealed to-day in word received from
William Walter Taylor. the outgoing State
Treasurer and president of the First
National Bank and Northwestern Mort
gage Company. of this city, that he would
not appear to make his statement at
Pierre with his successor. Treasurer-elect
Philips, of Deadwood. The news caused
surprise, because both Taylor and the
fnaciaI institutions with which he was
connected were regarded as firm and reli-
able beyond question. The news from
Pierre demonstrates that no money is held
there to the credit of the State Treasurer
and none is held in the bank here. 1T is
estimated that about $3.50, 900 is missing with
Taylor. Aside from the financial loss the
action of Taylor is felt by all who have
known and done business with him and the
financial enterprise with which he has been
connected in years past He and his enter
prise here have handled many thousands
of Eastern capital and his bank here has
always been regarded as one of the firm,
safe institutions in the State.
On Tuesday morning Taylor's bank here
opened, for business as usual and the CASH
ier, y. r. Humphrey, states that it held
so per cent of deposits in cash and In
bonds of approved reserve agents In the
East There was quiet run the bank
Tuesday by persons who had their suspicious
aroused by receiving private information
from Pierre that Taylor had not shown up
there and that something was wrong The
bank officials decided to close the bank
subject to examination by the Controller
of the currency and tha. official was noti-
fed al once. The action was. taken for the
protection of the bank and Its many de-
positors. Cashier Humphrey declares that
the deposits will be paid 4 full soon
as the government examiner concludes his
examination as there is an excess of fully
100000 in good paper besides about 40 per
cent. deposited in other banks. The bank
here is not compromised financially
by Taylor's default 1T is stated
authoritatively that after the examination
of the bank and its creditI.is restored 1t
will reorganize and open up for business.
The worst blow falls upon Taylor and his
bondsmen many of whom reside here and
are representative and leading business
men of Redfield
WENT TO NEW YORK.
Taylor was last seen in Chicago on Jan.
by a citizen of this place. He went from
Chicago to New York. since which time
no information has been received to his
whereabouts and it is not known whether
the State his bondsmen have been pro-
tected in any way or not by him. No bank
elsewhere is involved III the default Pierre
banks were suspicious of Taylor's absence
and withdrew their deposits from the bank
here before the bank closed
The following letter was received to-day
under date of JAM g. by the bank here.
The envelope was postmarked New York.
Jan. 6. 1t will throw important light
the matter and settle all doubt as to Mr..
Tayor's disappearonce:
Dear Frank-I am compelled 10 inform
you that L will not return to Redfield or
Pierre. / have counted friends assisting
in making up my settlement with the State
and felt that it would be done until the last
few days. l feel relieved to know the First
National of Redfield is not in any way
and hops that it's patrons viii believe YOU
as they should, for you have always kept
the banks affairs in good safe condition
There is no reason why the bank should not
continue its business. offer no excuse for
my condition, although / have many and
believe myself. Yours Truly,
'W w TAYLOR"
1t develops that a mortgage reached Red
field Wednesday morning and was duly filed
in the register of deeds office. transferring
to a company in Chicago all his real estate
and chattels in this city and Sphinx county.
Next to the State the blow falls terribly
hard on Taylor's principal bondsmen who
reside here. They qualified in sums repre-
senting all they have in the world. The
entire city used the bank for depository.
hence paralysis has affected all the arter-
les of trade.
Taylor is about forty-one years old, mar
red, but has no children. He came to Red
field from Lafayette Ind, about the fall
OF 1885 and opened banking business. He
ha fold t,fha
banks going out of business. Taylor got
into politics and secured the nomination for
State treasurer at the Republican conven-
ton at Mitchell in 1890 and in 1892 secured
the denomination for the Office at
Madison. AS an indication Of his general
standing heretofore in the State and the
utter lack of suspicion to any question:
able designs 1t is noted that Governor Shell
don pays compliment TO Taylor's efdci-
ency in his message to the Legislature. Con-
troller Eckeis has wired that Examiner
Zimmerman has been ordered To come hero
at once and take charge OF the bank.
Taylor Not I'm New York.
NEW YORK, Jan. 9.-Numerous inquiries
from the West reached banking houses to-
day i'm regard to the whereabouts of W w
Taylor, who, as outgoing State Treasurer
of South Dakota, failed to appear to turE
over his office to his successor, and against
whom alleged shortage in the State
funds Is recorded. As proprietor of a small
bank in Redheld Taylor did business with
the Chase National Bank, of this city. Ac-
cording to President IL. w. Cannon. OF the
Chase National Bank, his accounts with
that institution are all right his indebted
ness being amply secured.
MIR. Cannon said tonight relative 10 the
matter. mir. Taylor was here about five
weeks ago matter of business con-
nected with the bank. 1 have not seen
him since. and have no idea where he =.