The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1895-02-16

Illinois Late Treasurer Left Ills Bonds
men 20 settle Acconnta.


CIucAGo. Feb. i4.--Information has
just gotten out concerning the heavy
shortage Of the late Rufus Ramsay,
who died suddenly three months ago
of heart disease while state treasurer OF
Illinois. He was thought 20 have been
the richest man in southern Illinois.
Within a week over $500. 900 in claims
against his estate have been filed, but
the most startling Is that of the five
Chicago bankers who were his surety as
state treasurer. Now II. H. Biount'and
Carl Moll, cashiers of two Chicago ma
t.onal banks, have filed In the
county court claims for the full amount
OF the shortage. In the claims filed by
Messrs. Blount and Moll il is specihcal-
IL alleged that the shoI tage was
1862 530.52. that the bondsmcn made
II good and that the claims are filed
for the reimbursement of the bonds
men. Carl Moll, OF the National Bank
of Illinois, one % the sure ties on the
bond, made the following statement:
"Ofhcers and directors OF the following Chi
cago banks were on tAc bond OF the late Rufus
Ramsay for the aggregate sum OF $4,000 d.
vided unequaliy' Chicago national Corn Ex-
change Fort Dearborn national. Metropolitan
national and the National Bank OF Illinois.
These banks were used as repositories
OF state money. When Mr.. Ramsay
died suddenly at his home IN Car
lyle early last NoycuAer Gov. Altgeld APP
pointed Elijah. tho son Of the deceased 10
serve the rest OF the term. Tho law requires
the presence OF the bondsmen when any trans
fer OF the treasurers ONCE IS 70 be made. so
T. M Blount, cashier OF the Chicago national
bank. and myself. representing the boadsmen,
n flfll No
were examined and the funds turned over
The startling discovery was made az that
time that over $4,000 OF state funds had been
misapproprlated We found notes OF Henry
Setter, banker OF Lebanon ana O'Fallon. H..
aggrcgntng sei5 900 Tho Only security az.
tached to the notes was stock In the Illinois
Farm company, which owned several thousand
acres OF farm land IN Illinois. We also found
due bills OF Ramsay for sli5,OO0 lie had SIM
ply taken that amount OF money from tho
treasury and left due bills TO show for &C.
The total deficiency was made good nt
once b. the hanks. and whom Elijah Ramsay
became state treasurer. November 81.
there was not dollar owing the state
When the present treasurer, Henry Wuln.
came into ONCE he vas not satisfied with
the checks OF the Chicago banks and demanded
currency for every dollar represented by the
checks. Cash was at once sent him ana we
have his certified receipt for every cent owing
by his predecessor The report that Treasurer
Wul1 discovered the defalcation 81 untrue.
Mr. Ramsay was banker IN Carlyle and
his estate probably Is worth $500 The
bondsmcn may get sl25 900 OF that. Henry
Setter, who evidently began borrowing from
the state treasurer ns soon as Mr. Ramsay came
INTO possession of the funds. was a former
partner OF the late treasurer In the banking
business. Setter was Ia the state senate for
several years and was democratic leader
IN southern ILLINOIS, We made him turn over
90 the bondsmen 500 acres OF land, which was
in his own name lie made an assignment last
month The bondsmcn have 1000 acres OF
land near Mitchell H.. TO realize on Nc may
get altogether from the farm lands and the
Ramsay estate from 500 900 10 s225 900 which
would leave us losers OF si35Olps