The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1895-01-10
TAYLOR TOOK 1T ALL
Sensational Failure Of a Banker and
Politician.
INVOLVES BIG MONEY
Tho State Treasurer OF South
Dakota Short Nearly Half a
Million Doiiars-DIsap-
pears Suddenly.

REDFIELD, ). D., Jan. 9.-The most
startling failure that has ever occurred in
the Northwest was revealed to-day in
word received from William Walter Tay-
lor. the outgoing state treasurer and pres
ident Of the First National bank and
\ orthwestern Mortgage Trust company,
that no would not appear TO make n set
Element ut Pierre with his successor.
The news and the closing of his bank
here came like n thunder clap from
clear sky, because both Taylor and the
financial institutions which he was con-
nected with we're regarded as firm and re-
liable.
1t is estimated S35O,OOO is missing with
Taylor. Upon Tuesday morning his bank
here opened for business as usual and tho
cashier, +. w. Humphrey, states 1t held
so per ceut. of the deposits in cash and in
bonds of approved reserve agents in the
east. There was a quiet run on the bank
Tuesday by parties who had their sus-
picious aroused by receiving private in
formation from Pierre that Taylor had
not shown up there and that something
was wrong. Tho bank officials decided to
close tho bank subject to the decision of
the comptroller of tho currency.
Cashier Humphrey declares there is an
excess of fully $4,000 in good paper, be-
sides about 10 per cent. deposited in other
banks. Tho bank here is not compromised
financially by Taylor's default.
PIERRE. :. D.. Jan. 9.-The alleged fall
ure of w. IL. Taylor, the outgoing state
treasurer, to turn over the office to his
successor yesterday has started some ru-
mors of an investigation. Taylor, SEEM
ingly, cannot be located, but his bank at
Redfcld closed its doors last evening, and
ho is alleged to he short a large amount of
state funds, just how much cannot now
bo learned. Ex-Governor Mellette, one of
his bondsmen, is now on the read from
Indiana and other bondsmen arc on his
track.
MINNEAPoLIs, Mimi, Jan. "a special
to tho Journal from Aberdeen, ). d., says !:
1t is learned that the defalcation of State
| Treasurer Taylor will reach S25, ,0O0
Taylor was last seen in Chicago Jan. 6.
| lie went from Chicago to New York, since
which time no information has been re-
ceived as to his whereabouts. The fol-
| lowing letter was received to-day under
date of Jan. 6 by the bank here. The en-
velope was postmarked:
| NEW YORK. Jan. G.
| DEAR FRANK:--I am compelled 20 inform
| you that I will not return TO Redheld or Pierre.
| / have counted on friends assisting In making
4 up my settlement with the state and felt that it
| would DO done until tho last few days. offer
| no excuse for my condition, although have
many and believe myself. Yours truly.
| W. w. TAYLOR.
1t develops that plaster mortgage
reached Redficld Wednesday morning
and was duly filed IN the register of
deeds office, transferring to q company
in Chicago all his real estate and chattels
| in this city and in Sphinx county. The
blow falls hard on his principal bonds
men, some of whom reside here. Exam
| iner Zimmerman has been ordered 10
come here at once and take charge of the
bank.