Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-12-23
WALSH FINDS AID.
Powerful Outside interests Step
In To Assist Him In Rail
road Projects
ALL INFORMATION is WITHHELD
Both John r. Walsh and His Chief
Lieutenant Remain Silent Regarding
Identity Of Persons Who Will Back
the ErstwhiIe Banker in His Rail-
roadins-out of Banking for Good.

Chicago. Dec. 23.-Following close
Walsh has abandoned banking, to turn
his energies to railroading, was made
the discovery that powerful, though
unknown outside interests have stepped
in to assist Walsh in his railroad pro-
jects, this fact coming to light in the
statement of members Of the clearing
house committee that it was Walsh
himself, and not the barlks, who adj
vanced $4,000 to Contractor Kisner
for construction work on the Chicago
Southern railway.
The announcement this week, to the
effect that the clearing house commits
tee had furnished the funds is declar-
ed erroneous.
Neither Mr.. Walsh nor his chief lieu
tenant, Fred NJ. Blount, vouchsafe any
information regarding the persons who
have concluded to back the erstWhile
banker in his railroading. Mr.. Blount
expresses himself as thoroughly con-
fident" in a favorable outcome,' but de-
clines to go into details.
But the payment Wednesday demon
strates that the money is already at
hand. Accordingly rumors that the
interest due Jan. on the Chicago
Southern bonds, amounting approxi-
mately to 100000, would not be paid.
were secuted by members Of the clear
ing house committee.
Nothing definite has been done or
said in the matter" ssid President
John ]. Mitchell of the Illinois Trust
and Savings bank, but you are safe
In saying that the interest will be
met"
1t even is stated that II Mr.. Walsh
for some reason should fail to furnish
the money, arrangements could and
would be made with the clearing house
committee to do it.
Permanently Out Of Banking.
So far as Mr. Walsh is going out
Of the banking business is concerned,
he told one Of his friends three days
ago that he would not again endeavor
to conduct bank. The liquidators.
however, have not yet reached the point
where lley Cali uOLOIIlliIlC OAAS luL0k q
line of action based upon complete
knowledge Of the situation.
NJ Walsh will remove his books and
papers from his quarters in the Chi
cago National bank to the office Of the
Chicago Southern railroad in the
Grand Central station and from now
on, his energies will be devoted to
bringing that road into Chicago via
the Terminal Transfer line.
About 100 clerks and tellers will also
make their exit, most Of them into
neighboring banks, By December %
the big structure will be deserted by
all except Vice President Blount.
Cashier T. M. Jackson, and five picked
men, who will help the clearing house
committee liquidate the remaining de-
posits.
Deposits Being Liquidated.
At the close Of the banking hours in
the afternoon about $22,O0O.000 had
been liquiiated out Of the deposits OF
s26, OO0, 900. Eighteen hundred tfous-
and dollars of this represents cash
withdrawals over the counter, about
which exact figures were not obtain
able. but Withdrawals by checks and
drafts were made thru the clearing
house, which gave out the following
figures:
Monday, s2,2so,ooo; Tuesday, s5,e1n,-
900; wednesday. SO. 7S9. 900: Thursday,
s4.226, 900; Friday, $4,398,000.
Gives Details for Bidders.
Temporary President Bosworth is
preparing a detailed statement regard
ing the. bank. building for the benefit
of prospective bidders. interests con-
nected with the Fort Dearborn Nation
al bank are said to have entered the
market with an offer considerable
higher than that Of 100000, offered
! by another financial corporation.