The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-02-13
Startling Story Concerning a
Supposed Millionaire
WHAT A DEATH DISCLOSED
Big Shortage in the Accounts of an Elk.
State Treasurer
Rufus Ramsey Was Considered One of the
Wealthiest Men in Illinois, but
Death Lifted the Veil

St. Louis, req. IA special 10 the
| Post-Dispatch from Carlisle, Illinois, says
that when Rufus Ramsey, who died sud-
denly three months ago, supposedly from
heart disease, went into the state treasury
two years ago, he was thought to be the
richest man in Southern Illinois.
Within a week over $500 900 in claims
against his estate have been filed, but the
most startling is that of five Chicago
bankers, who were his sureties as state
treasurer.
When Henry Wulff succeeded the dead
man he found shortage of 1865, $50. 81,
which he communicated to his bondsmen,
who made it good, but have so far sup
pressed it, in hopes of reimbursement out
of the estate of the dead man. Now F.
M. Blount and Carl Mol, cashiers of two
Chicago banks have filed in the county
court claims for the full amount OF the
shortage.
When the bondsmen filed their claim in
the county court for 1868, $685., the
amount was so stupendous that Judge
Jesse Jones refused to allow it until fur
ther proof of its correctness was filed.
This was done on February 9th, when an
itemized statement of the amounts alb
stracted by Ramsay from the state treas
ury was put in the hands of the court.
1t showed that Ramsay had begun tam
pering with the state funds seven days
after taking office, on January 3, 1893
The day upon which Mr.. Ramsay took
to his bed the claim of the bondsmen on
the bond, was filed in the county court
it is very simple in language and
reads as follows:
Estate of Rufus N. Ramsay to John H. Will
beck ct al, dr., to cash paid by them as bonds
men for Rufus n. Ramsay, late Treasurer of the
state OF Illinois, to Elijah p Ramsay. his sue
eessor in office, to make good the former def
cit as such State Treasurer, 1868, 1892.
This sum will have to be paid before
any OF the other sums can be satisfied. 1t
is what is known as the sixth class trust
funds while depositors claims are in the
seventh class. Together with the claim
was a paper connecting Ramsay with
Henry Setter, the Lebanon, ILL.,, banker,
who failed so disastrously just after Ram
says death. This paper shows that the
banking firms of Henry Setter & Co. owed
Ramsay personally the sum of $243, 1852.
There were also due bills from the Napa
Land Company amounting to $4,000. The
three amounts made up the sum which
the bondsmen were obliged to make
good.
In addition to the claim of 1858, $50 50,
made by the bondsmen, claims of mer-
chants and farmers of Carlisle and Iron
counties have been filed in the county
court, the entire Indebtedness up to date
amounting to 1858, 27S.S5 while the estate
is probably not worth over 5000, 900, in
Guiding the assets of Setter, which car, be
held
W. H. Curtin, close friend of Ruff
Ramsay, had this to say OF his affairs
mo better man than Rufus Ramsay ever
lived, and had he lived every dollar of his
Indebtedness would have been paid and
his family left with $4,000. Had not
Henry Setter failed everything would
have been all right. Setter borrowed over
$40 900 from the Union Trust Company
of Chicago and gave security on 1900
acres of land near Lebanon. This
money came out of the state treasury,
the trust company acting as go-between.
When he failed his assignee filed motion
to set aside the conveyance of this prop
erty, and the bondsmen, rather than ac-
cept security over which there was liable
to be litigation filed claim against the
state. This property is worth in ordinary
times, over 5000, 900. 1t was worth that at
the time it was accepted and Ramsay had
a right to do as he did. The law allows
a state treasurer to use money as he
peases. All he has to do is to put it
back This has been done and everything
is all straight.
Springfield, ILL.,, Feb. 12.-Treasurer
Wulff was seen today and had little to say
when confronted with the developments
at Carlisle. He said Ramsay's son had
accounted to him for everything. If there
was shortage, Ramsay's bondsmen made
it good before the Treasurer went into
Office. Wulff had no other course than to
receipt for everything, as the funds in the
office were as they should be.