Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1907-10-15
WALSH TRIAL TO
BEGIN next WEEK
FORMER CHICAGO BANKER AND
NEWSPAPER OWNER WILL
FIGHT BANK CHARGES.

Chicago, ILL.,, Oct. 12.-John r.
Walsh, for many years one of the
most influential men in Chicago fin
ance, will be placed on trial in the
federal court next week for alleged
misapplication of banking funds.
which resulted in the wrecking Of
the Chicago National Bank the Equit-
able 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 Gen
eral Bonaparte that the govern in
tended to prosecute offending bank
laws.
Walsh Good Fighter.
That Walsh will put up hard
fight against conviction goes without
saying 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 cri.
minal charges hanging over his head,
he has succeeded in completing the
railroad that brought about his down.
fall, securing for it an entrance into
Chicago in the face of almost insur.
mountable obstacles, shows the fight.
ing qualities of the man.
Rather Fight Than Exist Quietly.
It is a Chicago belief that John r.
Walsh would rather fight than exist
quietly. Certain it 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 stationary
and sporting goods. In 1851 he &C
CURED book and news store on one
of the best corners Of the city. From
retailing 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 Company, all
the Middle West This company was
absorbed by the American News Com
pany of New York.
Secured Newspaper Properties.
Having obtained considerable for
tune he was prepared for other ven
lures. He invested in the Chicag.
Inter Ocean, became director in tn,
National Bank of Illinois, founded the
Chicago National Bank in 1882 sole
bis interest in the Inter Ocean tx
H. H. Kohlsaat, purchased the Chi
cago Herald. started the Chronicle a;
Democratic organ, disposed of th,
Herald and of its evening edition. tn,
Post, meantime multiplying his inter
ests In other banks, in politics, Goa
contracts, gas companies, tractio,
quarries baseball and so on.
He backed the Chicago Base Bal
Club, the league organization in tn
days of Spalding and Hart, and wa
one Of the leading spirits in th
Washington Park Club. The failur
of the National Bank of Illinois l.
1893, a catastrophe which many hav
laid at Walsh's doors, enabled him t
take over large part of the deposit
Up to this point in his career he ha
apparently succeeded in everything h
had undertaken. He was unyieldin
and his temperament thoroughly pu,
nacious. He never forgot or forgav
an enemy, but he usually broke him