Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1895-01-18
OFFICIALS STUNNED.
GETS AWAY WITH SOMETHING
OVER sa5o.ooo.
40 One Had an linking of tho state Of
Anairs-nas Bank at Redaeld Closed,
but It Is Claimed that IDepositors Will
lose Nothing-Not Seen In New York for
Weeks.
The state Treasurer Missing.

news received from VIM. Walter Fay
Tor, the outgoing state treasurer. and
president of the First National bank
and the Northwestern Mortgage Trus
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 the closing Of his bank here anne
like a thunder clap from a clear sky,
because both Taylor and h financial
institutions with which he was con-
nected were regarded as solid and re-
liable beyond question. News from
Pierre shows that no money is held
there to the credit of the state treas
urer, and none is held in the bank here.
1t is estimated that about $3.50, 900 is
missing with Taylor. Aside from the
financial loss the action of Taylor is a
shock to all who have known and done
business with him and the financial
enterprises with which he has been
connected in past years. He and his
enterprise here have handled man.
thousands of eastern capital. inc his
bank here has always been regarded
as one of the safest institutions in the
state.
On Tuesday morning his bank
opened for business as usual. Cashier
F. w. Humphrey informs The
correspondent that the bank held so
per cent. of Its deposits in cash and in
bonds of approved reserve agents east.
There was a quiet run on the bank
Tuesday by parties who had their sus-
;ipicions aroused by private Information
from Pierre that Taylor had not
shown up there and that something
was wrong.
Claims Depoaitors Are Safe.
The bank officials decided to close the
institution subject to examination by
that official was notified at once. The
action was taken for the protection of
the bank and its many depositors.
Cashier Humphrey declares that de-
:positors will be paid In full as soon as
1.-The government examiner concludes his
examination. as there is an excess of
fully $780, 900 in good paper and besides
40 per cent. deposited in other banks.
'The bank here is not compromised
AAA0AASAoAty Wy tayAOI . 0SlhASdSAOAs H
is stated authoritatively that after the
examination of the bank and it's credit
is restored it will rcorganize and open
up for business.
Taylor was al seen in Chicago on
January 4 by a citizen of this place.
Ks went from Chicago to New York,
since which time no information has
been received as to his whereabouts.
and it is not known whether h state
or his bondsmen have been protected
in any way or not by him. No bank
elsewhere is involved. Pierre banks
were suspicious of Taylor's absence
and withdrew their deposits from the
bank here before it closed.
"A Tell Tale Letter.
The following letter was received
"wednesday morning, January 8, under
date of January 6, by the bank here.
The envelope was postmarked New
York, January 6. It will throw impor-
tan light upon the matter and settle
all doubts as to Mr.. Taylor's disappear
ance:
Dear Frank: I am compelled to in
FORM you that I will not return to Red
field or Pierre. I have counted on friends
assisting in making up my settlement
with the state, and felt that it would be
done until the last few days. I feel re-
lieved to know that the First National
of Redfield is not in any way rightfully
compromised by my m~isfortunes, and
nope that its patrons will believe Won.
as they should: for lou have kept the
There is no reason VIII, the bank should
not continue its business. I offer no ex-
cuses for my condition. although I have
many, and believe myself. Yours truly.
Nv. w. Taylor"
reached Redfield Wednesday mornine
ana was duly filed in tile register Of
deeds office transferring to a omn nv
an chicago all his real estate and chat.
eeis IN this city and Sphinx county.
next 70 the state the blow falls terri.
who l reside on hers nas Principal eH bondsmen.
sums representing all they t have in TIN IN.
world. The entire city used the bank
1ar g depository, hence the news has
paralyzing erect on everyone.
Taylor Is about Al years old. married.
field from Lafayette. Ind. about the
I'll or 1885 and opened up a bankine
business. He o o secured he entire
Held, two banks here going out Of busi.
ieASoe. 4dy1oT got INTO politics and sc.
cured the nomination for state treas.
Hrer at the republican convention at
Mitchell in 1890, and in 1892 secured the.
denomination for the same office nj
Madison. AS an indication of his gen.
ieral standing heretofore in the state
and the utter lack of suspicion as to
any questionable designs it is noted
that Gov. Sheldon pays a compliment
to Taylors efficiency In his message to
the legislature.
Comptroller Eckels has wired. that
Examiner Zimmerman has been or
'dered to come here at once and take
charge of the bank.
Excitement at Pierre.
Pierre. Jan. Especial: The Taylor
.defalcation has absorbed all interest
here. 1t is learned that the only state
money to be found is $4,000 in Taylor's
bank at Redfeld and $4,000 in a
bank at Pierre. Everything else.
amounting to $4,000. has gone. Word
has been received from the Chase Ma
aenai bank at New York that the $4,000
ia HTE4r -