St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-01-10
SIS S RUN AWAY.
Ex-Treasurer Taylor, OF South
Dakota, Short Hundreds
Of Thousands.
SKIPS TO PARTS UNKNOWN.
A Friend Receives a Letter
From Him Postmarked
New York.
REDFIELD is IN GLOOM.
The Bank Of Which He Was
President Closes Its
Doors.
REDFIELD is IN GLOOM.
LEGISLATURE IS STUNNED.
Taylor's Precise Shortage May
Not Be Known for Sew
ePal Days.
Special TO the Globe.

Special 10 the Globe.
PIERRE, S. D., Jan. 9.-Walter w.
Taylor, until last Monday treasurer OF
South Dakota, is short an immense
amount, calculated at 10 o'clock tonight
at from 1926, 600 to 100000.
1t has been known for some time that
Treasurer Taylor was hard pressed. lie
was caught in the Chemical National
bank failure, of Chicago, for large
amount. and he lost $4,000 i'll the bank
at MiIbank, and $4,000 in that at Get
tysburg. Altogether he lost 100000.
The FIRST National at Redfeld, Taylor's
bank, closed its doors this morning.
II the defalcation is as large as the
bondsmen believe it will place the state
in a very embarrassing position. The
limit Of indebtedness has been passed
largely. no warrants or bonds can be
sold. and there is considerable def.
cheney in the revenue, and without this
there would have been difficult prob
lem to make both ends meet. 1t is now
impossible. Taylor has always had
high reputation as fnancier and
man of integrity. The school fund may
lose $4,000.
The whole city is torn UP over the de
falcation of Treasurer W. W. Taylor.
The state officers are paraiyzed, and no
one knows either the amount of the de-
falcation or any possible method OF eX-
Treating the state. Under the statute.
Tayor should have turned over his
cash to his successor yesterday, put on
Saturday he wired from New York that
he could not get here before late last
night. When the train arrived at 2 this
morning he was not aboard, and his
Dondsmen and personal friends became
convinced that their suspicious were
correct, and that he had defaulted.
Ii is utterly Impossible to tell any
thing about the amount. All state
funds are deposited to the credit of w.
w. Taylor, individually. at Redfeld.
There are no records to show where the
money is deposited. Taylor should
have on hand $346,H00. He had
set aside $1g0,000 to pay funding
warrants which were due in New York
Saturday. Whether he paid them is
unknown. Public Examiner Myers
found all his accounts correct in April
last, but has made 10 examination since
Mr.. Myers has for thirty days been
somewhat suspicious, and has tried to
get list of depository banks. but has
been put off on one preteXt or another.
Three weeks ago Taylor went to New
York. and it is understood that he has
been trying to raise money to cover the
shortage from friends there. His fa-
ther is very wealthy, and his connec>
tions are so powerful that it is a sur
prise he should not fix the matter up.
Taylor Sr. is on his way here, as is eX-
Gov. Millette, who was the chief bonds
man. The other bondemen are Speaker
Howard and Bob Mccoy, OF Aberdeen.
Tie total bond was $780, 900, and Ex-
aminer Myers expects it to shrink some
what.
Comptroller Notified.
WASHINGTON. Jan. 9.-Thc comp
troller of the currency today received
notice Of the failure of the First Ma
tional bank at Redfield, S. D, Bank
Examiner c. f. zimmerman has been
placed in charge.
Governor Changed His Mind.
PIERRE. S. D., Jan. 9.-The governor
appeared before both houses of the
legislature this evening and asked that
his euogy of State Treasurer Taylor in
his annual message be stricken from
the record and for early legislation i'll
regard to finances.