The Big Stone Gap post. [volume] (Big Stone Gap, Wise County, Va.) 1892-1928, 1895-01-17
a CONSPIRACY
Alleged Between Defaulter Taylor
and His Bondsmen.

Alleged Between Defaulter Taylor
and His Bondsmen.
The Scheme Was to Take @23O.aoO More
1he Latter Sum to lie 'ii,i,leu; Then
the State Forced to Quiteia.m ths
SI6O, 600 for Rcturn Of balance.
r PIERRE, S. d., Jan. 11.-Thursdav's
developments indicate that there was
| 3 iarge-sized conspiracy i'll the fight Vt
State Treasurer Taylor, md the loss TO
the state s35e.oO0. Facts have como into
the possession of the state officials
which make it reasonably certain that
Taylor and certain confcderatcs de-
! iberately went to work. after 1t be-
| come evident thnt lie could not square
his accounts, to hold the state up ard
compel a compromise by. which he
should be saved from punishment and
his bondsmen protected from loss.
The state was in a hard place inan-
cially. If not q cent had been lost
there would have been deficit on the
first day of next July of fully 100000,
due to overappropriations by the last
| legislature, and to the slow payment
| OF taxes on account Of the short crop
| of the year. The limit OF taxation has
/ been reached and the limit Of in
debtedness has been passed for
some time How to cxtricate the
commonwealth has been tho sub
jcct commanding the most earn
est thought Of the state officers for
several months past; The permanent
appropriations are SO high that the leg
islature, no matter what economy may
animate it, could hardly bring the cx-
penditure within the revenue. There
were due on the 9Th OF January 500, Z.
600 worth Of funding warrants held by
eastern parties. There was also due a
considera BILE sum on the coupon bonds,
while the sinking fund was preparing
to take up annual interest TO- the
amount of $4,000. The legislature was
in session, and Immediate calls would
be made on the treasury for ut least
&3OO, OOO ia. !tt,
OF course the treasurer knew all this
It is believed by the authorities, on
substantial evidence, that, realizing he
would be short 800, 900 when the trans
fer was to be made on the 9Th, he con-
suited with some OF his friends and
hackers, and they decided that the best
thing to do was to seize all the
money In the treasnry and put 1t in q
place Of hiding, where it could be got
ten atwhen desired. Then, when the
default was discovered the state would
| be found bankrupt. 1t could not pay
It's obligations; and. having exceeded
it's limit of debt, could not borrow.
We're it to sue on the bonds of the
treasurer two years more would elapse
before any money could be recovered,
and during that time the credit OF
South Dakota would sink very low.
The parties to the plan concluded
that, rather than let this come to pass,
the state officers would do almost any
I thing within reason. Then the plan
was to. come forward through an agent
and propose to pay back to the state
the $3.50, 600 which the treasurer had
carried off on condition that the bonds
men should he released, and that Tay'
lor be relieved from further prosecn-
ton Had he come to Pierre on Tues
day and surrendered himself he would
have been q common felon, and would
/ have gone to the penitentiary for ten
or fifteen years, and his bondsmcn
would have been bankrupt, since asnis
under the bonds, at this time, would
have driven several, if not all of them,
to the wall, Under the plan adopted
both Taylor and his bondslncn would
be free from any annoyance, and the
state would be the only loser.
Wednesday night ten men left on the
midnight train for various parts Of the
state, and by this time all the property
In the state belonging to Taylor OF
any of his bondsmen has been at.
tached.
Deputy Treasurer burlington Thurs
I day received letter from Taylor
| dated New York, January +, and in
: closing certified deposit checks 70,
S7,4G0. on various banks. The auditor
has made an emergency call on all tho
county treasurers for all the funds IL
their hands due tho state. 800 -s}-''
| Two joint resolutions passed 10th
houses Thursday afternoon, one calling
for an Investigation into the affairs OF
the treasurer's office and the Other
i offering a reward for the apprehen
sion of w. W. Taylor, late state treas
urer. 81 - ',.t9'it4tt5 80