Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1895-01-17
TAYLOR'S TROUBLES.

How the DefauIting Treasurer Was Caught
He Was Liberal to Help His Friends,
Who, When His Time of Necessity Came,
Were Unable to Repay Their Loans or to
Extend Needed Assistance.
PIERRE, S. D., Jan. 12.-Tay1or's de-
.alcation still absorbs all the interest
at the capitol. Everyone had been
awaiting the arrival of ex-Gov. Mel
lette, who came in on last evenings
train. He is one of the heaviest bonds
men, and two days ago, before the
fight of Taylor was known even to
the state officials. he wired from La
fayette, Ind, that he would be here
Thursday night and not to begin suit
on the bonds, as he would turn over
everything to the state.
AS Lafayette is the home of Tay-
lor's father, it was supposed that Mel
cite would have proposition from
the bondsmen for some sort of a set
Element. This is not true. He comes
simply as an individual, and is un-
able to throw any direct light on the
situation. He gives some informa-
ton. however, which has changed the
theory on which the people here have
been proceeding, namely, that Taylor
has been collecting every cent of avail
able cash in order to pinch the state
and force a compromise.
The ex-governor has had some init
mate business relations with Tay-
lor, and on Thursday last went to Chi
cago to meet him and straighten them.
Taylor had left the day before, how
ever, and although Mellette searched
%r,,~ l. rok
trace of him. He then went to La
fayette and discovered that Taylor
was short, that his friends were un-
able to help him out and that the
default was inevitable.
Mellette was in Chicago on Deem
Der IL. and met Taylor there. The
latter was apparently in conference
with a number of his friends and
bondsmen and with Leppelman, whose
bank at Gettysburg failed three
months ago, and who, through that,
really dragged Taylor down to his
ruin.
The governor knew Mr.. Taylor in
timately and trusted him thoroughly.
He states that Taylor told him short
time ago the history of the bank at
was caught during the panic of eight
cen months ago. The bank got into
close quarters and appealed to Taylor
for help. After consulting with sew
eral bankers he loaned $4,000 of the
states money, all agreeing that to let
the bank fail at that time would en-
danger every bank in the state, and
would probably bring ruin on all the
people. AS he had helped out several
other institutions, he helped this. He
found soon, however. that the condi
ton of the institution was much worse
than he had suspected, and, having
placed so great sum there, he sent
good money after bad until he had
sunk 100000. Then came his other
losses. amounting to fully half as
much more. He was unable to borrow
Or to sell a great amount of property
that came into his possession from
this bank, such as real estate
merchandise, stock, cattle and
other articles. He made strenuous
efforts to sell, but failed and for time
his friends helped him out. They
reached their limit, however, and he
was thrown on his own resources. He
could not get money from the east and
was caught.
1t is known that Taylor, a few days
ago, put all of his property out of his
hands and even conveyed some trust
funds which will seriously embarrass
some of his friends.
Investigation seems to show that the
bonds are of small value except one,
and that is unknown. 1t is understood
that Taylor's father, who was supposed
to be wealthy, cannot be collected
from.