The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1895-01-10
SOUTH DlEOTI ROBBED.
Defaulting State Treasurer Taylor
Stole $350,0O0,
PRESENT WHEREABOUTS UNKNOWN

He Should Have Turned Over the AfTairs
Of His Office TO His Successor on Tues
day-His Failure to Appear Led to an
Investigation.
REDFlELD. 5. D., Jan. 1O.-Probably the
most startling failure that has ever oc-
CURED in South Dakota or the northwest
was revealed yesterday in word received
from William Walter Taylor the outgoing
state treasurer and president of the First
National bank and Northwestern Mort
gage Trust company, of this city, that he
would not appear to make his settlement
at Pierre with his successor, Treasurer
elect Phillips, of Deadwood The news
and closing of his bank here came like u
thunderclap from a clear sky, because
both Taylor and the financial institutions
with which he was connected were re-
garded as firm and reliable beyond ques-
tion
The news from Pierre demonstrates that
no money is held there to the credit of the
state treasurer and none is held in the
bank here 1t is estimated that about
S35O, 600 is missing with Taylor. Aside
from the financial loss the action of Tay-
lor is felt terribly by all who have known
and done business with him and the finan-
cial enterprises with which he has been
connected in years past. He and his en-
terprises here have handled many thou
sands of eastern capital and his bank here
has always been regarded as one of the
| firm, safe institutions in the state. The
bank here is not compromised financially
by Taylor's default. 1t is stated author
itatively that after the examination of the
bank, and its credit is restored, it will re-
| organize and open up for business.
Taylor was last seen in Chicago on Jan.
4 by citizen of this place. He went from
| Chicago to New York since which time
no information has been received as to his
whereabouts. 1t develops that plaster
mortgage reached Redfleld yesterday
morning, and was duly filed in the regis
ter of deeds office, transferring to a com
pany in Chicago all his real estate and
chattels in this city and Sphinx county.
| Next to the state the blow falls terribly
hard on his principal bondsmen, who re-
side here. They qualified in sums repre-
senting all they have in the world. The
entire city used the bank for depository
hence a deadly paralysis has affected all
the arteries OF trade and social life.
| Walter w Taylor was born in Indiana
about 1854, and for "a time associated with
his father, William Taylor, in the whole
sale coal business at Lafayette, that state
From the time he was Is years of age he
had almost exclusive charge of the busi
| ness, and demonstrated wonderful ca
pacity for grasping the details and intri
cacies of a very large trade He came tC
| Dakota in 1886, and established the First
| National bank of Redfield, which he soon
1
tions of this section of the country. HI
took an active part in politics, from the
first was earnest in the struggle for state
hood, and was delegate from Sphinx
county to the first state convention, helC
in Huron in 1889. At the convention o.
1890, held at Mitchell he entered the rac(
for state treasurer, and secured the nomi
nation after "a spirited and exciting con
test. He was renominated and elected 70
a second term, which he completed on the
iirst of January of the present year.
NEW YORK, Jan. TO- - Numerous in
quiries from the west reached banking
houses here in regard to the whereabout;
Of w. w Taylor who, as outgoing stat
treasurer of south Dakota failed to ap
pear to turn over his office to his successor
and against whom an alleged shortage il
the state funds is recorded
Taylor did business with the Chase Ma
tional bank of this city. According t.
President II. W. Cannon, of the Chase Ma
tional bank however, his accounts witt
that institution are all right, his indebted
ness being amply secured.
| Mr.. Cannon said TO Il representative O
the Associated Press relative to the mat
ter; "Mr. Taylor was here about five week
| aUO on a matter of business COnneCtej