The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1895-01-15
nuiNEp ISL nIs rKlENps.
The Plea ofSouth Dakota,s Default
~ ing Treaaurer.

The Plea ofSouth Dalkota's Defnult-
ing Treasurer.
PIERRE, S. D., jar. Estate Treas
urer Tayi Tor, who should have turned
over his cash to his yester-
dap, failed to appear. and his bank, the
Redfield National Bank, has closed its
doors.
When last heard of Taylor was in,
New York. On Saturday he should
have had $350,000s aud should have
paid $4,000 Saturday 10 take up fund
ing warrants in New York. His bonds
Il $3.50, 600, but will stand SO per
cent. s~brinkago.
1t has been known for some time
that Treasurer Taylor was hard
pressed. He was caught In the Chem
ical National Bank failure at Chicago
for a large amount and he lost;$20, 900
in the bank at Milbank, and $40, 900 in
that at Geldsberg. which failed during
the panic. Altogether he lost 800, 900.
The first National Bank at Redfeld,
Taylor's bank, closed it's doors yester-
day. The bank lie in good condition.,
and 1T Is thought will pay all it's debts.
The banks at Pierre will not lose any
thing. 1.-THE d%efalcation is as large as
the bondsmen believe, 1t will place the
State in q very embarrassing position.
No warrants or bonds can be sold. and
there is o considerable deficiency in
the Without this it would
have been a difficult problem to mako
both ends meet now it 10 impossible.
Taylor has always had a reputation
as u lDancier and q man of integrity.
The school fund may lose $50, 600.
PIERRE, s. D., Jan. 10 .-Later de-
velopments show that the d%efalcation
of Treasurer Taylor has not been ever
estimated. There should have been
$4,000 in the treasury. All the funds
In sight consist OF about $15, 900 in the
Pierre banks.
December 81, a draft of s35, 900 was
sent to Taylor at New York. Efforts
it is thought to BIO too late. The
Chase National Bank of New York.
which holds the warrants, telegraph
ed yesterday they had not been paid
and that Taylor had rot been seen
there for several days.
Advices from Aberdeen arc to the
effect that Taylor took a little money
with him, but lost it all through his
friends whom he helped during the f.
nancial panic. When he wanted the
money returned his friends were not
able to accommodate him. Among tho
persons to whom he loaned none are
oete W. W oIllCltIS, LII III
criminal prosecutions are instituted
there will be some sensational develop
ments before the case Is ended.
Some time ago Taylor went to New
York for the purpose of raising funds
to close his accounts with the State,
but recent advices arc to tho effect
that he was unable to negotiate a loan
and he announced his intention of
never returning to Dakota. His
friend he bitterly approached for not
coming to his aid when in need. His
present whereabouts are unknown, but
it Is thought he has gone to n foreign
country. His bond of 1926, 900 is said
to BIO good, but it will not begin to
cover the noun of shortage as it ap-
pears at present. The auditor has
called upon the county treasurers for
any funds hat may be in their posses
sion, and the Attorney General has
commenced making preparations for
realizing upon Taylor's bond.
In his message read on Tuesday,
Governor Sheldon complimented the
Treasurer for the ability and zeal
which he had shown in the manage
ment of his office, but in a special mes
sage to bsth houses yesterday he re-
quested that this be eliminated when
the message is printed.
The bank at Redield has received
q letter from Taylor stating that he
left its matters in good shape (; that he
had been trying to straighten out his
shortage to the State, but had failed.
and no n at Rsdfield or Pierre would
v g see him again.
PIERRE, S. d., jail. 1.-THE Taylor
d~efalcation still absorbs all the inter
est at the capital. Every one has been
awaiting tho arrival of Ex-Governor
Mellett, who came in on last evenings
train. He Is one of Taylor's bonds
men. He wired from Lafayette, Ind,
that he would be here last night and
not to begin suit on the bonds, as he
would'turn over everything to the State.
AS Lafayette is the home of Taylor's
father it is supposed that Mollett
would have a proposition from the
Dondsmen for some sort of a settlement.
This is not true. He comes simply as
an individual and is unable to throw
any direct light on the situation. He
gives some information, however,
which has changed the theory on
which the people here have been pro
ceeding, namely, that Taylor has been
collecting every ccnt of available cash
in ORDER to pinch the State and force q
compromise.
The Ex-Governor has had some init
mato business relationswith Taylor,
and onThursday last went to Chicago'tC
meet him. Taylor had left the day be-
fore, however, end though Mellett
searched for him two days, he could get
no trace ot-him. Helthon went to Lafay-
cite and discovered that Taylor was
short, so that his friends were unable to
help him out, and that the default was
inevitable. Mellott was in Chicago De-
cember 18th, and met Taylor there.
The latter was apparently in conf-
dence with a number Of his friends and
bondsmon and with Leppclham, whose
bank at Gettysburg failed three
months ago, and through that camo
Taylor's ruin. The Ex-Governor states
that Taylor told him q short time ago
the story OF the bank at Gettysburg
and the way he was caught during the
panic eighteen months ago. The
bank got into close quarters and ap-
pealed to Taylor to help. After con-
sultipg with various bankers he loaned
$4,000 of the States money, all agree
ing that to let the bank fail at that
timo would cndanger every bank la
the State and would DrObablv brino