Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1905-12-25
ECkELS SAYS CHICAGO BANKER
Is IN EXCELLENT SHAPE.
HIS ASSETS ARE VALUABLE
Cash Returns Will Be Large and
Any Number of People Try to Get
the Properties-Effec Is Felt in
the Peninsula of Michigan
Cash Returns to Be Large.

chicago, ILL.,, dec. ll.--J dlu6S H.
Eckels, a member of the clearing
house committee which took over the
properties of John r. Walsh, ex-
pressed the opinion that the assets
will liqudate for much more than
was expected on Monday when the
transfer was made Mr. Eckels said;
THE assets of the Walsh banks,
and particularly the National bank.
will liquidate for much more than
was anticipated when the transfer
took place Monday morning. The
| eagerness witch which many rich cor
porations have sought to obtain first
options on certain properties, bonds
and stocks has convinced the direc-
| tors of the Chicago National bank
that the Walsh holdings are of inn
menSe value.
"All things considered, | believe
!, Jolrn II. Walsh is long way from ex-
| clusion from active participation in
the world of affairs said Mr.. Eek
emerge a man of means and will be
able to re-enter the arena with a com
! Portable fortune behind him His
| holdings are large and varied.
Information that has come to me
| from private sources makes me GER
| tain that a number of important in
| terests are maneuyering to obtain
| possession of some of the best of
! them. expect these interests are
| looking with longing eyes toward the
| railroad stocks and securities. but
am rot informed specifically
sets, placed an extremely conserva.
"The clearing house committee, in
surveying the field of the Walsh as
sets, placed an extremely conserva'
| tive estimate upon their value. This
was prudent. My personal judg-
| ment is that our anticipations are to
cash returns for these assets will be
very large. These stocks cannot be
realized upon Immediately, but they
will be marketed as soon as the 9th
| er assets are disposed OF"
| The chances of criminal prosecu-
ton being started against Mr.. Walsh
Or the directors of the institutions OF
which he was president are consid-
cred remote by federal and state of
fio ais. The only possibility open for
litigation involving the. officials of the
banks, according to the opinion OF
l xyyhn + hn
law, lies with the stockholders, and
this chance will not be available I'M
til it has been demonstrated in the
! liquidation process that they Have a
cause for damages.
Blount Quits Canal Board.
Frederick NJ. Blount, who was vice
| president of the Chicago National
bank, yesterday resigned his position
as treasurer of the sanitary district
1t was by virtue of his position that
the funds of the sanitary district
i were placed in the Chicago National
bank.
Refused to Cash Checks.
Menominee, Mich, Dec. 21.-The
failure of the Chicago National bank
and other institutions in that city has
had it's effect in this city consider
ably The Peshtigo National bank
refused to cash the checks of the
wisconsin & Michigan railroad, OF
which John r. Walsh was the head
Some Menominee people hold checks
on the Chicago National, and MenOm-
inee firms have money on deposit
there All fear is now allayed.
Brings Suit for Rent
Chicago, H., Dec 21.-Edward H.
r. Green, son Of Mrs. Hetty Green,
! filed suit in the superior court for
| $4,000 against the Chicago National
bank. It is declared that the defend
| ant is indebted to Mr. Green to that