The pioneer press. (Miller, Hand County, S.D.) 1893-190?, 1895-01-17
MINUS IT'S FUNDS.
South Dakota Has an Empty
Treasury to Face.
A Defaulting Oficial Leaves the State
with Only $4,000 - Deep-Laid Con-
spiracy Believed tn Have Been
Unearthed.

The last heard of Taylor he was in
New York. On Saturday he should have
had $3.50, 900, and should have paid $780,
900 Saturday to take up funding war
rants in New York. His bonds are
$3.50. 600, but will stand SO per cent.
shrinkage.
1t has been known for some time that
Treasurer Taylor washard pressed. He
was caught in the Chemical national
bank failure at Chicago for a large
amount, and he lost 500 600 in the bank
at Milbank and $4,000 in that at
Gcldisburg, which failed during the
panic. Altogether he lost $l0O,00O
state Embarrassed.
If the d~efalcatiOn 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 "a considerable
deficiency in revenue Without this
trouble it would AVE been a difficult
problem to make both ends meet, now
it is impossible.
Little Cash Is Left.
Later developments show that the
d~efalcation of Treasurer Taylor has
not been ov~erestimated. There should
have been $4,000 in the treasury. All
the funds in sight consist of about $15,-
600 in the PIERRE banks.
Helped his Friends.
Advices from Aberdeen are to the
effect tina Taylor ooh little money
with him but lost it all through his
friends whom he helped during the
financial 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
instituted there will 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 a loan, and he announced his
intention of never returning again to
Dakota. His friends he bitterly re-
preached for not coming to his aid in
time of need.
Probably Gore Abroad.
His present whereabouts are I'M
hIi'Nh s u ~ I'D NiiouShb tlihb iS iuS
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.
A Reward offered.
PIERRE, s. d., Jan. 1.-Two joint
resolutions passed both houses Thurs
day afternoon, one calling for an in
vestigation into the affairs of the treas
urer's Office and the other offering a
reward of 5000 for the apprehension
of w. w. Taylor, late state treasurer.
The state officials are making strenu-
Gus efforts to raise sufficient cash to
keep the various state institutions run
ming, and a peremptory call for taxes
Is expected to produce enough to tide
over the difficulty for some time, but
the state auditor feels positive that
South Dakota must default on the
bond interest due in June. Meanwhile
every effort is being made to arrest
Taylor.
Deep Plot Detected.
PIERRE, s.. d., Jan. l1.-Facts have
come into possession of the state Off
Gals which make them reasonably GER
tain that Treasurer Taylor and certain
confederates deliberately went to
work, after it became evident that he
could not square his accounts, to hold
the state up and compel a compromise
by which he should escape from the
penalty and his bondsmen should be
protected from loss.
The state was in a hard place inan-
cially. If not a cent had been lost,
there would have beer a deficit on the
first day of mex July of fully 500, 600
due to overappropriations by the last
legislature and to the slow pay
ment of taxes on account of
the short crops. How to extricate
the commonwealth has been the sub
ject commanding the most earnest
thought and anxiety of the state Off
cials for several months past. The per-
manent appropriations are SO high that
the legislature, no matter what econ
omy may animate it, could hardly
bring the expenditures within the
revenue.
There was due on the 9Th of January
$22O,0OO worth of funding warrants
held by eastern parties. There was
due a considerable sum on the coupon
bonds, while the sinking fund was pre-
pairing to take up the semi-annual in
terest to the amount Of $40, 900. The
legislature WAS in session and immedi-
ate calls would he made on the treas
ury for nf laaSf G3OO 0oa ne .,,rSa tho