The Plymouth tribune. (Plymouth, Ind.) 1901-1911, 1907-10-17
Banker Walsh To Be Tried.

tHS WIeCklnS OF the SnlCdSO NdllOnal
Bank, the Equitable Trust Company
and the Home Savings Bank 1t is
expected that the prosecution of the
former banker and millionaire will
be vigorously pushed The attitude
of the federal authorities was made
manifest by the recent statement of
Attorney General Bonaparte that the
government intended to prosecute Of
tending bankers as vigorously as vio-
laters of other laws
That Walsh will put up hard fight
against conviction goes without say
ing among all those acquainted with
the man and his career Even his
most bitter enemies give him credit
for being a good fighter The fact
that, at seventy years of age, with his
fortune ruined, his banks wiped out
of existence and with criminal
charges hanging over his head, he
has succeeded in completing the rail-
road that brought about his downfall.
securing for it an entrance into Chi
cago in the face of almost insur-
mountable obstacles, shows the
fighting qualities of the man.
1t is a Chicago belief that John r.
Walsi, would rather fight than exist
quietly. Certain il is that his entire
career from the day he landed in Chi
cago as an immigrant boy has been
one. constant fight. He began selling
newspapers at 10 years OF age. Soon
he had a news stand and in the course
of time he extended the trade and
added stocks of stationery and sport
ing goods. In 1861 he acquired a
book and news store on one of the
best corners of the city. From re-
failing he branched out into whole
sailing. He was the largest distribut-
ing agent in town, and from the town
he extended his territory to include
all Illinois, and then Indiana, and
then. with his Western News Com
pany OF New York, all the Middle
West. This company was absorbed
by the American News Company OF
New York
Having obtained a considerable for
tune, he was prepared for other ven
lures He invested in the Chicago
Inter Ocean. became a director in
the National Bank of Illinois, found
ed tie Chicago National Bank in
1882, sold his interest in the Inter
Ocean to H. H. kohlsaat, purchased
the Chicago Herald, started the
Chronicle as Democratic organ, dis
posed of the Herald and of IFS even
!, ing edition. the Post, meantime mrl
tiplying his interests in other banks,
in politics, coal contracts, gas com
panies. traction, qimrries, baseball,
and SO on.
He backed the Chicago base ball
club, the league organization in the
days of Spalding and Hart, and was
noe of the leading spirits in the
Washington Park club The failure
of the National Bank OF Illinois in
1898. catastrophe which many have
laid at Walsh's doors. enabled him to
take over large part of the deposits
Up to this point in his career he had
apparently succeeded IN everything
he had undertaken. He was unyield-
ing and his temperament thoroughly
pugnacious He never forgot or for
gave an enemy, but he usually broke
him.
The turning point came when some
years ago he acquired the great stone
quarry at Bedford, Ind. and develop
ed the insignificant Southern Indiana
railroad to bring his stone products
to market. incidentally he desired to
get even with the Monon railroad,
and in the course of his fight he de-
veloped the ambition 10 throw a
trunk line from Pittsburg to Kansas
City
Early in December. 1905. the crash
came. The doors OF the three Walsh
banks were closed, and announce
ment was made that his liabilities
amounted to 100000. The Chicago
Clearing House Association stepped
in and saved the depositors from
loss. Walsh was accused OF using
the peoples money to promote his
railroad Comptroller Ridgely stated
at the time that civil. but not crimin-
al proceedings, would be brought
against the banker But later the mat
ter was brought before the federal
grand jury and Mr.. Walsh was indic.-
ed criminally. He was charged
among other things with misapplica-
ton of unds by means of memo
notes. and with falsifying bank state
ments For two years John S. Miller
the famous defender OF the Standard
Oil company, has fought every inch
of the gpound to keep Walsh from
trial But after months of delay and
unavailing motions to quash, to give
a bill of particulars, to annul, the
former banker will next week be
called to the bar of justice to answer
fer his alleged misdeeds. His defense
it is understood, will be largely a
tccf. nichal one.
To Make Two Counties Dry.