The Daily Texarkanian., 1895-01-11
A DEFAULTING TREASURER.
South Dakota Loses S35000O by the
Shortage Of HerTreasurer, Who
is Missing.

haAe wv CNShh W ~ hSNNNh
or the Northwest was reported to-
day in word received from Walter
Taylor, the outgoing state treasur'
eff and president Of the First Ma,
tional bank and Northwestern
Mortgage Trust company of this
city, that he would not appear to
make his settlement, at Pierre with
hisssWGvesser Treasuter electPhH'
lips Of Deddwood
The news Of the closing of of his
bank here came like thunder bolt
from a clear sky, because both Tay-
lor and the financial institutions
with which he was connected we're
regarded as firm and reliable be-
yond question, The news from
Pierre demonstrates that no money
Is held to the credit of the state
treasurer and 5none is held in the
bank here.
It is estimated that about $3.50,
900 is missing with Taylor, Aside
from the financial loss, the action
of Taylor is felt terribly by all who
have'known and done business with
bhim and the financial houses with
which'he has been connected for
years past, He and his enterprise
here have handled thousands Of cas-.
tern capital and his bank here has
always been regarded as one of the
soundest, safest institutions in the
state.
On Tuesday morning his bank
here Cpened for business as usual
and the Cashier, y, W. Humphrey,
states that it held so per cent of
deposits IN cash and bonds Of ap
proved reserve agents in the East
There was quite run on the bank
Tuesday by parties who had their
suspicious aroused by receiving pri-
vate information from Pierre that
Taylor had not shown up there and
that something was wrong, The
bank officials decided to close the
bank subject to examination by the
comptroller of the currency, and
that official was notified at once,
The action was taken for the pro
lection of the bank and its many
depositors
Cashier Humphrey declares that
depositors will be paid in full as soon
az the government examiner con
cludes his examination, as there
is an excess of fully 500, 600 in good
paper, besides about 40 per cent
deposited in other banks The
bank here is not compromised llnan-
cially by Taylor's default,
It is stated authortatively that
after the examination Of the bank
and It's credit is restored, 1t will be
reorgani2ed and open for business
The worst blow falls upon Taylor
and his bondsmen, many of whom
reside here and are representative
and leading business men OF Red
field.
Taylor was last seen In Chicago
Jan. 4by a citizen Of this place, He
went from Chicago to New York
since which time no information
has been received as to his wherea-
bouts, and II Is not known whether
the state bonds and his bondsmen
have been protected or not by
him,
The following letter was received
under date of Jan, 9 by the bank
here. The envelope was postmark'
ed New York, Jan,6, II will throw
much light upon the matter and
settle all doubts as Mr., Taylors dis
appearance
"Deaf Frank Il am compelled to
inform you chat / will not return
to RedHeld or Pierre, have count
ed ON friends assistance In making
up my settlement with the state,
and felt that It would be done uni.
til within the last few days, ] leel
relieved to know that the First Ma.
! tional bank Of RedGeld Is in no way
compromised, and hope It's affairs
will be kept in good condition, There
Is no reason why the bank should
not Continue its business ] offer
no excuse, although ] have many,
''' "W W TAYLOR
II develops chat a plaster mort.
gage reached Red0eld Wednesday
morning and was duly fled In The
register of deeds Office transferring
I ia a company Of Chicago all his real
estate and chattels in Sphinx county.
Next to the state the blow falls ter
nbly hard on his principal bonds
men, who reside here, They quail
fed In sums representing all they
have In the world, The entire city
used the bank for q depository,
hence a deadly paralysis has affect