Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1905-12-21

funds, Chicago funds, west, south, and
Lincoln lark funds went into the
treasury. It was all process CT eyo-
luton.
Indeed Walshs whole career was
process Of evolution-even his ruin
which was the logical outcome.
The huge sums of the drainage
board finally were annexed by the
bank, millions upon millions.
And, along with all his political &C.
tivities, Walsh carried other lines OF
business.
Gas offered field for the first of his
great politico-financial moves. He
was in Ogden gas with Sullivan, Hop
kins, and that crowd, he was In III
nois tunnel with other politicians.
There are scandals over the consoi-
idation Of the gas companies OF chi
cago scandals that caused uproars IN
the legislature, but despite that, the
Walsh crowd pushed the bills through
the legislature and the gas monopols
in Chicago became an assured fact.
Also G. K: g. Billings chairman CHI a OF
the board Of directors Of the Peoples
Gaslight and Coke company, became
director in the Chicago National
bank.
Walsh's hand was everywhere; he
was in North Shore Electric. In RAND
McNally & Co., In coal mines, stone
quarries, in electric roads, IN banks,
organized to aid his business. III gas
at Akron. o., and Peoria, III But
many Of these things have little to 40 (,
with the story of the rise of the man
from newst oy to multi millionaire or
his fall.
Keeps MAKING Enemies.
| The great trouble was that Walsh
kept making enemies. He fought for
everything; that was his style OF get
ting it.
In his political life, as far as ma
tional politics are concerned, he mas
tariff, and in local politics he has teen
consistent only to the welfare OF his
| banks-that is to getting more money
In 1SS9-1890 and for years thereafter
Walsh was synonym for carefulness
among bankers. He saw the free Sill
yer agitation coming afar off and ev-
erything he did was in gold. He de-
manded rents for his buildings in gold;
he wanted gold every time money was
coming, and he piled it up in his bank
!! During the panic of 1898, when
things were dark everywhere, other
bankers looked upon Walsh as mar
vel and told their customers: go to
Walsh; he has the gold" And he
had
]. Walsh was one of the ardent sup
porters Of Grover Cleveland and has
been for years a close friend of the
former president. He fought for him
until 1896 then bolted Bryan and re-
: pudiated the democratic national
ticket
That was the beginning of his seri-
, Gus troubles in politics. His paper
the Chronicle, wavering, vacillating
bitter at times, never made money
and he carried it at dead loss to re-
venge himself upon his personal OF
political enemies. And it kept him
, busy, for they were cunning for hin
at every turn.
Forces Gather Against Him.
Forces were gathering that portend
ed ruin for Walsh He bought, as al
investment, the famous stone quarrie!
at Bedford Ind. and as usual, mixet
politics with business. He was no
content with the earning power Of thu
quarries; he wanted them to earn bis
money-money that meant more powe
to him.
never gratifled. He wanted social, po
ltical any kind Of power. He hat
, married happily, taking as his wifi
Miss Louise Wilson, a brilliant younl
school teacher, and his home life Il
: said by those who knew him to b.
/ ideal.
81 His insight into national politics
Y showed him an opening which woult
, aid the Bedford stone quarries. If h
!. could get the government to stipulat
the use of Bedford stone in public
5 buildings it would help greatly, ant
, also be great inducement to use II
, smaller contracts. So his Bedfor,
stone lobby was organized in Wash
c 1ngton, and it got results. The powe
of Lorimer, ct. AL. was felt in the con
+ gress and the government began t.
: specify Bedford stone. 1t was goo
stone. 1t was possibly as good as any
= Also the prices were fair.
X The quarries seemed to prosper. TIL
Y public building graft" was extende
d everywhere that buildings are erected
None was too small. There We're tale
of councils Influenced even in SINAI
! villages, so that Bedford stone be
: came known everywhere.
! 1t was a fine business sys
/ tenn, but the grave trouble was tina
e the railways wanted their part Of tn
Legitimate rake-off" thus divertin
S funds from Walsh's pet institution, hi
a bank.
r Range of His Activity.
" The mind of the man was a marvel
!. Gus combination. He could grasp tn
y greatest things and the minutest de
IL tails at hand One minute he woul
II be fighting in Washington for som
huge stone contract involving million:
o and the next holding UP some forme
;. employee on the street and demandin
= to know why he did not deposit hi
!, savings in his bank. On one occasio
Walsh actually groomed a candidat
g for treasurer of the Chicago Pres
e club in order that the funds of tn
n club might be deposited in his bank
a. and the secretary at that time de
st clared the gross sum was s172
s J. Pierpont Morgan, after studyin
Walsh for long time, declared the
but for his temper he would be tn
r, greatest f1nancier in the world.
h But back to Bedford, the town the
IS was responsible for the downfall c
al the political wonder worke
a There Walsh owned banks, quarrie
spur lines, and all sorts of things. Bed
ford was paying. He was in hundred
of other things, and in every ventuf
k, politics appeared. People, even oil
80 flnanciers, declared that Walsh was
" Midus, turning everything he touche
ga into gold