The independent. [volume] (Lincoln, Neb.) 1902-1907, 1905-12-21

the chicago NatlOnal, Home Saw
ings and Equitable Trust-have been
declared insolvent by Comptroller
of the Currency Ridgley. These banks
were owned by John r. Walsh, who
has now been forced out of the man.
agement, which has been placed in
the hands of the Chicago Clearing
House association. The liabilities
amount to $24,OOO,000. All depositors
will be paid, the other Chicago banks
having pledged themselves to make
up any deficiency in the assets.
This action prevented panic. The
causes which led to the failure of
the Walsh banks were investments in
the private enterprises of Mr.. Walsh,
and particularly loans made to a rail
road company which he controlled.
This company built line out Of Bed
ford, Ind, where Mr.. Walsh has stone
quarries, the Monun route having de-
clined to give Mr.. Walsh satisfactory
rates on stone. 1t is reported that the
national and state authorities will
prosecute Mr.. Walsh for illegal
methods. National Bank Examiner
Bosworth is discharged employe OF
Mr. Walsh.
1t develops that James r. Garfield,
commissioner of corporations, and
his chief assistant, DIR. e. A. Durand,
have practically become witnesses for
the defense in the beef trust" case.
Mr.. Garfield has been served with a
subpoena directing him to produce
all the books and reports he has, and
be ready to testify regarding them.
BY this procedure, it is said, the
packers will try to show that Com
missioner Garfield has sworn state
ments which were made while Mr..
Garfield was Investigating the bust
ness methods of the beef trust, and
which, if produced, are said to guar
antee immunity from prosecution.
| The midshipmen of the United
States naval academy have resumed
! hazing in the most violent form.
Midshipman Jerdone P. Kimbough,
from Tennessee, was found uncon-
scious in his room after being hazed
by upper classmen AS result OF
affair Midshipmen Trenmore Coffin
1 Jr. of Nevada and Warren A. Vande-
veer of New Jersey have been sus-
i pended. Within an hour after their
suspension Real Admiral Sands had
sent to the navy department at Wash.
ington his recommendation for their
final punishment. The penalty for
hazing is dismissal
Following close upon the heels OF
the W. Ellis Corey family trouble
comes another sensation in United
States Steel corporation circles. This
time it is Gibson b. Parker, one Of
Andrew Carnegie's young business
associates, who, like many others, be
| came millionaire when the Car
negie Steel company was taken ovel
by the steel trust. Gibson has beer
sued by Mrs. Mary I. vetter, a hand
some young widow Of this city, fo
100000 damages for alleged breach
of promise to marry.
The court of appeals in the New
York city ballot box case, sustain
the contention OF counsel for Mayo
George ID. Mcclellan and denies tina
II attorneys for William II. Hears
! and his colleagues on the municipa
,, ownership league ticket. The cour
: holds. as was argued by former Chic
Judge Parker and hts associates, tina
4 the courts have no power under Oh
= election law TO order by mandarin
the opening of the ballot boxes an
. n recount and recanvass OF ballots.
The tobacco factory at Elkton. Ky
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