The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-12-19
CHICAGO BANKERS
TO BE PROSECUTED
Continued From First Page.

MED, for the formation Of a syndicate
of leading bankers to take over the
Walsh banks at an appraised value and
continue business. It was stated that
any amount up to 5$25, 100000 would be
raised for the purpose.
Walsh and Politics.
Chicago National bank, with John Il.
Walsh as its chief manager, has been
a factor in the politics Of Cook coun-
1ty and, to a certain extent, in Illinois.
This influence Of the bank and Mr..
!. Walsh radiated thru both the demo-
cratic and republican. parties.
AaeGsiaie ns Nh walsh John in Ms
Smyth, for years looked on as the nes
tor Of the republican party in Cook
county, for years chairman of the re-
publican county committee, and always,
until recently, potent in the party
councils.
With Mr.. Walsh, also. as vice presi.
dent of the bank, was Fred M. Blount,
one Of the most prominent of the repub-
lican organization leaders. b
On the other hand, w. J. Onahan, at
one time democratic leader and city
controller under Mayor Cregier, was
president Of the Home Savings bank.
Influence in Two Parties.
With bank and newspaper to aid
easy to exert great influence in poll
tics in both parties. One Of the results
was that nearly all the public funds
in Cook county and most of the funds
of the state were deposited in Mr..
Walsh's banks. When the democrats
were in power the city funds found
their wav to the Monroe street .institu-
n+u dc "a
park board funds, several Of the court
funds and the bulk of the state funds.
In the campaign last year Mr..
Walsh's newspaper, the Chronicle, bit
terly opposed the nomination Of Charles
s. Deneen for the governorship. In
the pending contest for the senatorship,
the Chronicle is supporting Senator
Shelby M. Cullom, and it is a strange
irony Of fate that the man who forced
should be Controller of the Currency w.
B. Ridgley, a son-in-law Of Senator Gull
lom.
Irony of Fate.
A remarkable coincidence in connec-
tion with the liquidation. of the Walsh
banks lies in the fact than on Dec. p,
1896, or almost nine years ago, the fail.
ure Of the National Bank Of illinois &C.
Cured. This crash was brought on by
the relentless policy Of Walsh and re.
suited eventually in sending Edward
s. Dreyer to the Joliet penitentiary.
The day that saw the financial undoing
of John r. Walsh, Dreyer was liberated
from prison and arrived in Chicago last
night: 49,, .....
f'They that take the sword shall per
ish by the sword.' Matthew XVI, So.
The story of Walsh's career Is a
story Of the golden rule-which was not
applied. It is a story Of battles and
struggles, of desperate conflicts, of
fights where quarter was not given or
asked. It is the life story Of John Il.
| Walsh, and his rise and fall.
Eliminated Friendship.
interviewer in the story is the tale OF
the making Of Chicago and the history
of q man who eliminated friendship
from his business, whose business creed
WIS fight, who loved fighter, who
showed no mercy--wha asked for none
and whose enemies, waxing strong, final
y A 1' newsboy WTo Became &c anne d multimill
ionaire-a power in politics, ruler OF
men, one Of the greatest financial char
acters in the country, whose influence
was felt thru city, county, state, ano
! even national politics--has fallen be
| cause he had won enemies; because hls
creed of trampling upon all who op
posed him finally added to the ranks Of
! his enemies until they were too power
full for him to fight against. Then they
! overthrow him and the millions van