The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-01-12
SOUTH DAkOTA'S BIG STEAL.
IaylOTS BOHdSmel Good fur a YeTy
Small Part OF the Loss.

The Amount Of the States Funds sunk
in the Ehort to Save tho Broken Bank
at Gettysburg 500, ,oOO-The Money
Advanced by the Treasurer on the
Advice of Other Bankers in the State.
No olew to raylor's Whereabouts OBJ
tanned.
Pierre, s. r., Jan 'u.--State Treasurer
Taylor's defaulcauou stu absorbs an
the interest at the capital Eevcry one
has been awaiting the arrival of ex-
Gov. Meliette, who came in ON last nights
train. lie is one Of the heaviest boudsmen
and two days ago. before the n.gat OF
Taylor was known even to the state Of
hcers he wired from Lafayette. Ind. that
he would De here last night ana not 90
begin suit on the bonds, as hc would turn
over everything TO tho State. AS Lofay-
ette IS the home of Taylor's father. 70 was
supposed that eN-Gov. Melette would
have proposition from the bondsmen for
some sort of settlement. This IS not true
He comes simply as an Individual. and SIS
unable to throw any direct light on the
case. He gives somo information, how
ever. which has changed the theory on
which the people here have been proceed
ing. manly. that Taylor has been collect
ing every cent of available cash in order
to pinch the state and force q compromise
The ex-governor has had some intimate
business relations with Taylor. ana on
Thursday last went TO Chicago to meet
him. Taylor had LETT the day before
however. ana though eN-Gov Mellette
searched for him two days. he could get
no trace of him He then went TO Lafay-
cite ana discovered that Taylor was
short; that his friends we're unable TO help
him ont, and that the default was
inevitable, EX-Gov. Melette was I'm Chit
cago Dec. Y, and met Taylor there The
latter was apparently IN conference with
number of his friends and bOndsmcn.
and with Mr. Leppelman, whose bank al
Gettysburg failed three months ago, and
who, through that, really dragged Tay-
lor down to his ruin.
The ex-governor states that Taylor told
him a short time ago the story of the bank
at Gettysburg and the way In which he
was caught during the panic eighteen
months ago. The bank got into close quar-
ters and appealed to Taylor to help II.
After consulting with various bankers he
loaned @iU,VO OF the states money All
agreeing that TO let the bank fail al that
time would endanger every bank IA tho
state and would probably bring ruin on all
the people. As he had helped out several
other institutions he helped this lie
found soon, however that the condition Of
the institution was much worse than he
had supposed and having placed so great
"a sum there, he sent good money after
bad til he had sunk 500 900 Then came
his ofhar tpagga gT1nffuf#nfr "a ffIiIV bu n
much more. He was unable 90 borrow or
TO sell a great amount Of property that
came into his possession from this bank,
such as real estate merchandise. stocks
and cattle. For "a time his friends helped
him out. They reached their limit, how
ever, and he was thrown on his own re-
sources He could not get money from the
east and was caught.
Ex-Gov. Mcllette has no knowledge or
suspicion Of his whereabouts. II is known
that Taylor, q few days ago. put an of his
property out Of his hands and even con-
veyed some trust funds, which viii only
enbarrass some OF his friends Investiea-
tion seems to show that the bonds are OF
small value except one. and that is not
known. 1t is understood that Taylors
father, who was supposed TO be wealthy
cannot be collected from.
Memphis, Tenn. Jan. u.-Ex-Treasurer
Taylor, OF South Dakota. was under arrest
here until this afternoon when he was re-
leased. as tho officers here could hear
nothing from the South Dakota officials.