The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1895-01-10

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state politics, and q heavy grain buyer
In central Dakota, had $1,000 10 the
bank, and left this morning on j special
engine for Redtield. Ex-Gov. Mellette,
Speaker Howard and Boo Mccoy, OF
Redtield, are on Taylor's bond, and the
Sphinx county delegation 10 all broken up
over the defalcation. It falls on them
like q thunder clap, as Taylor has ranked
high socially, politically and financially,
and the boys cannot understand where
the money has gone. u
Taylor lost some money in the failure
OF the bank OF Milbank, and some la the
failure OF Leppleman's bank al Gettys-
burg, but these losses were not sufi-
cient OF themselves to cause an embar-
rassment.
Examiner Myers gives the following
explanation OF the matter: Last April
he called upon Treasurer Taylor tor a
statement Of his account with the state.
The statement gave the names OF Is or
20 banks in which he had deposited
money and Examiner Meyers received a
veriiication from the banks as to the
amounts held by them. III these state
ments were correct, Taylor was all right
in April.
In November, Mr.. Myers called for a
similar report. but Taylor, after repeat.
cd promises to make it, has not yet done
so. Moreover, he has been out OF the
state since some time in November, and
his precise whereabouts are not knowE.
This circumstance causes great embar-
rassment TO Taylor's friends, who say he
has taken poor counsel in not facing the
music and making a clean statement of
the whole matter. There ought to be in
the treasury now about S350,O00, but no
one except Taylor knows where the
money is deposited, and consequently
it is impossible to tell what the shortage
is. The sensation overshadows all legis-
lative matters, and no business will be
done today.
About the first of this month Taylor
was to take up $4,000 of funding war
rants. III these warrants were paid, the
shortage will not be very large, otherwise
it will be very heavy.
Taylor's absence gives color to the
claim that the defalcation will be bad as
it can be. A telegram bearing Taylor's
signature was received from Albany on
Saturday, but it is thought to hav We been
sent by some friends.
Taxes have been coming in very
slowly, and South Dakota's finances will
be badly demoralized ii the worst should
be true. Members of the Legislature are
dumbfounded at the situation. Iaylor
deposited money in different banks to
bis own private credit, and it will be
difficult to get at the TAI facts unless
he should appear personally.
An Aberdeen dispatch says: From
absolutely reliable sources it ID learned
that the de~falcatlon OF State Treasurer
w. W. Taylor will reach quite 100000.
Practically all state moneys were in his
own hands, except some $4,000 or $50,
600 on deposit in various banks.
The wreck is complete.
IL has been known for q year that Mr..
Taylor personally has been In lad
straits, but not one of his most intimate
friends thought his situation hopeless or
even desperate. They knew he had been
advancing and investing money recklessly
considering the times, yet they never
dreamed the truth. When the officials
make an Investigation or the treasurer's
they will be simply appalled, at
the condition Of affairs.
Fortunately, 80 FAR as Aberdeen 10
concerned, the affair will nof affect
either OF the local banks. The books
show that no state funds have beer 90
in either the Aberdeen National
or First National for several months,
and at no time during the past year has
the deposit in either OF them been Con-
Walter w. Taylor was born in Indiana
about 1854, and for a time associated
with his father, William Taylor, 10 the
wholesale coal business, at Lafayette,
state. From the time he was Is
years old he had almost exclusive charge
of the business, and demonstrated d
wonderful capacity for grasping
the details and ~intricacies or ii very
trade. He Came to Dakota in 1896