River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1895-01-17
MINUS IT'S FUNDS.
South Dakota Has an Empty
Treasury to Face.
A Defauiting Oficial Leaves the stat.
with Only $4,000 = Deep-Laid Con.
spiracy Believed TO Have Reeu
Inearthad.

PiERRE, ). d.. Jan. IL State Treasur>
er Taylor, who should have turned over
his cash to his successor Tuesday. failed
TO appear and his bank, the Redfield
national bank, has closed its doors.
The last heard of Taylor he was in
New York. On Saturday he should have
had S350,O00, and should have paid $780,
600 Saturday to take up funding war
rants in New York. His bonds are
S350.Oo0, but will stand SO per cent.
shrinkage.
1t has been known for some time that
Treasurer Taylor was hard pressed. He
was caught in the Chemical national
bank failure at Chicago for large
amount, and he lost $50, 600 in the bank
at Milbank and $4,000 in that at
Geldisburg, which failed during the
panic. Altogether he lost 500, 600.
state Embarrassed.
III the defalcation is as large as the
bondsmen believe il will place the
state in very embarrassing position.
The limit of indebtedness has been
passed largely. No warrants or bonds
can be sold and there is considerable
deficiency in revenue. Without this
trouble it would have been a difficult
problem TO make both ends meet, now
it is impossible.
Little Cash Is Left.
Later developments show that the
defalcation of Treasurer Taylor has
not been overestimated. There should
have been S370,OOO in the treasury. All
the funds in sight consist of about S15,-
600 in the Peirre banks.
Helped His Friends.
Advices from Aberdeen are to the
effect that Taylor took little money
with him but lost it all through his
friends whom he helped during the
panic. When he wanted the
money returned his friends were not
able to accommodate him. Among the
persons to whom he loaned money are
said to be several state officials
and if criminal prosecutions are
there win be some sensa-
tional developments before the case is
ended. Some time ago Taylor went to
New York to raise funds for the pur-
pose of closing up his account with the
state, but recent advices are to the eff
feet that he said he was unable to ne
gotiate loan, and he announced his
of never returning again to
Dakota. His friends he bitterly re-
preached for not coming to his aid in
time of need.
Probably Gone Abroad.
His present whereabouts are I'M
known, but it is thought that he has
gone to a foreign country. His bond
Of $3.50, 900 is said to be good, but it will
not begin to cover the amount of the
shortage as it appears at present. The
auditor has called upon the county
treasurers for any funds that may be
in their possession, and the attorney
general has commenced making prepa-
rations for realizing upon Taylor's
bond.
Reward Offered.
PIERRE, $. d., Jan. 1.-TWO joint
passed both houses Thurs
lay afternoon, one calling for an in
vestigation into the affairs of the treas
lrer's office and the other offering a
reward of 1000 for the apprehension
Of w. w. TAYLOR, late state treasurer.
The state officials are making strenu-
Dus efforts to raise sufficient cash to
keep the various state institutions rum
ming, and peremptory call for taxes |
S expected to produce enough to tide
over the difficulty for some time, but |
he state auditor feels positive that |
south Dakota must default on the |
bond interest due in June. Meanwhile |
very effort is being made to arrest |
Taylor
Deep Plot Detected.
PIERRE, 5. d., Jan. IL Facts have |
,Ome into possession of the state Off |
.ials which make them reasonably GER
ain that Treasurer Taylor and certain |
deliberately went to |
work, after it became evident that he |
ould not square his accounts, to 'hold |
he state up" and compel compromise |
" which he should escape from the |
and his bondsmen should be |
protected from loss.
The state was in a hard place finan-
tally. If not cent had been lost, |
here would have been a deficit on the |
irst day of next July of fully 100000 |
Iue to overappropriations by the last |
legislature and to the slow pay
nent of taxes on account of /
he short crops. How to extricate |
he commonwealth has been the sub
ect commanding the most earnest |
bought and anxiety of the state Off
ials for geral months past. The per-
appropriations are so high that
ne legislature, no matter what econ
my may animate it, could hardly
ring the expenditures within the
evenue.
There was due on the 5th of January
22O, 900 worth of funding warrants
eld by eastern parties. There was
ue a considerable sum on the coupon
'onds, while the sinking fund was pre-
airing to take up the semi-anuual in
crest to the amount of 100000. The
legislature was in session and immedi-
tie calls would he made on the treas
ny for at least S3O0,0 900. OF course the
treasurer knew all this.
Decided to Seize All the Money.
1t is believed by the authorities on
ubstantial evidence that, realizing
hat he would be short 100000 when
he transfer was to be made on the sth,
e consulted with some of his friends
nd hackers, and they decided that
he best thing to do was TO seize
IL the money in the treasury and
nut it in a place of hiding where it
ould be gotten at when desired. Then
'hen the default was discovered the
ia te would be found bankrupt. We're
to sue on the bonds of the treasurer,
yo years or more would elapse before
ny money could be recovered and dur
lg that time the credit of South Da-
ota would sink very low.
The parties to the plan concluded
hat rather than let this come to pass
he state officers would do almost any
hing within reason. Then the plan
'as to come forward, through an
gent, and propose to pay back to the
tate the S25O,OOO which the treasurer
ad carried off on condition that the
ondsmen should be released, and that
aylor should be relieved from further
rosecution.
Evidence Regarded as Conclusive.
II is impossible to give the details of
he evidence on which this superstition
based, but ii is regarded as conclu-
i've. 1t is now known that several !
ersons were aware of the condition
)me time before the defalcation took
lace, and it is understood that Taylor
as an agent in this city watching the
rogress of the inquiry.
Another Defalcation in south Dakota
CUSTER. s. D., Jan. 14.-Ben Tunley,
stiring county treasurer, is a default
> 10 the amount of g. 200. He con-