The Springdale news., 1906-01-05

lao. efforts to make
 John E Walsh. ,,..--z in these enterprises that forced him to borrow tepbeaHuY from his banks The liabilities Of the three institutions were estimated at -SeEU1uuu0. and against this the two banks and trust company had only s16eaaaa0 iH resources. The Chicago Clearing House association promptly gave notice that all depositors would be paid ia full 8ad committee was formed to take charge of the em- barrassed banks and 6id ia the prop critics for Alr Walsh at fair xalua= tion.
 John k Walsh is what is poPularly described as u self made man. having been brought from Ireland to Chicago when he was ten years old where he streets. He went in with q newsdeal- CT and after time bought him out. Walsh extended his trade in d new store and went from retailing to whole saIing until his news company WAS ab- sorbed by the American News com pany He invested h the Chicago In ter Ocean. became director Of a bank. sold out the Inter Ocean purchased the Herald and started the Chronicle as Democratic organ. This last is said to have been heavy drain on his re sources. with deficit of S100.09o year He was known as | packer of the Chicago baseball club Walsh Has heavily interested in street railway properties and gas plants Through his varied enterprises be had built up local political dictatorship hT mems of which Ae was able to control many important contracts. He WAS known as Democrat. but 1t was hot doubted that many times Republican bosses were in eolluSian with him
 When the failures were announced there was n slump of from 3 To 6 points in leading stocks. while United Copper broke 20 points There was q recovery when the action of the clearing house became known Mr Lawson of Boston said this was the beginning of the systems collapse.
 Steamship Lines to Merge.
 IL was known at Boston that inter ests ill the Eastern Steamship com pany had sold out to Charles W. Morse. owner of the Metropelitan line This made probable the merging of the two lines.
 Southern Paoifes Report.
 In the annual report of the Southern Pacific company which is controlled by the Union Pacific an Increase of &, ,a0oooa is shown but StfH no aiyi- dend is paid on the eoHman stock. which has never drawn anything since the organization of tHe company in 1881 During the latter half of the fiscal wear 4oo miles ef road had been authorized ID California. Nevada and Oregon to protect and develop the ter ritory served by the system
 Morton's Equitable Reforms.
 In his first statement to the policy holders of the Equitable Life. Dee. IS President Morton announces that there will be no effort to make it the biggest company ill the world. rather the safest IL will be the policy not to so- hcit new business at the expense of the present policy holders Economies amounting to more than $500, GOO a year have been introduced No further contributions will be made to political parties.
 Control of Washington Life.
 Three of the minor life insurance concerns had their turn before the Armstrong Investigating committee namely, the Empire. Prevalent Life and Life Association, Irregularities be- ing found in each ease. Then came President Tatlock of the Washington Life. which was rescued from failure about year ago when Levi P. Morton and Thomas r. Ryan bought the con trolling interest In the company's in yestments and deposits 1t was shown that the properties of Mr Morton and Mir Ryan were favored
 Railroads Promise to Tell
 The executive officials of western railroads have met at Chicago and en. tered an agreement whereby each is bound to inform the interstate com merce commission of any Illegal acts Of any kind 4 committee was ap- pointed to watch for evidence. Pensions on New York Central.
 The directors of the New York Cen