The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1907-10-15
BANKER WALSH
WILL Be TRIED
FOR MisAPPLicATioN or BANK
ING FUNDS WHICH WRECK
I'd THREE BANKS.
|HE WILL FIGHT HARD
Belief Of Chicago That Walsh Woulc
Rather Fight Than Exist Quietly
His Wonderful Financial
Career.

4 Chicago, ill.,. Oct 14.-John X,
walsh. for many years one cf the
most Influential men In Chicago
finance ana business win be placed on
trial tn the federal court this week
for alleged misapplication Of banking
funds. which resulted IN the wrecking
Iof the Chicago National Bank, the
< Equitable Trust Company and the
Home Savings Bank. 1t Is expected
THAT the prosecution OF the former
banker and millionaire VIII be yigof-
Iously pushed. The attitude Of the
federal authorities was made amniiest
Iby the recent statement Of ATTORNEY
General Bonaparte that the govern
Iment intended to prosecute offendins
bankers as vigorously as violatpis
OF other laws
1 That Walsh will put up hard fight
{, AGAINST conviction goes without say
ling among all those acquainted Win
1.-The man and his career Even MS
most bitter enemies give him credit
for being a good fighter, The fact
THAT. at seventy years Of age with
, his fortune ruined, bis banks wiped
out Oh existence and with criminal
u charges hanging over his head. he has
succeeded Ia completing the railroad
il that brought about bis downfall, secur-
ling FOR 1t aa entrance into Chicago IN
1.-The face cf almost insurmountable OBJ,
stacles, shows the flghting qualities
lof the man.
1t is d Chicago belief that John X
II Walsh would rather fight than exist
I lquietly Certain it II that his entire
{ Icareer from the, day he landed IN
1 Chicago as an Immigrant boy has been
!. Icne constant fight 1Ie began selling
1 newspapers at 10 years of age. Soon
1.-The had d news stand aud in tire course
d lof time lie extended The trade and add
q cd stu.. ks of stationary and sporting
!, goods. In 1861 he acquired q book
land news store on one Of the best
6 corners Of the city. From RETAILING
/, The branched out into wholesaling. IL
h was the largest distributing agent III
/ town, and from the town he extended
i Ihis territory to include all Illinois
a and then Indiana and then with ms
t. Western News Company, all the MID
g die West. This company was absorb
n ed by the American News company
9 of New York.
It Having obtained considerable for
n tune. he was prepared for other ven
e ltures. He invested in the Chieagt
q Inter Ocean, became director II
G the National Bank of Illinois, found
Il ed the Chicago National Bank in 1882
y sold his interest in the Inter oceai
q to Fl. Fl. Kohlsaat. purchased the CM
cago Herald, started the Chronicle a
.' a Democratic organ, disposed oil IN
Herald and of its evening edition, tn
% Post. meantime multiplying his In
y terests in other banks, in politics, Goa
U contracts. gas companies, traction
u ouarries. baseball and so on.
u He backed the Chicago baseball
>. club, the league organization In TN
f" days of Spalding and Hart, and wa
one of the leading spirits in the WASH
ineton Park Club. The failure OF TN
National Bank of Illinois In 1888
catastrophe which many have lai'
at Walsh's doors, enabled him to tax
~ over a large part of the deposits. u
to this point In his career he had al
narently succeeded in everything II
had undertaken. He was unyieidin
" and his temperament thoroughly pul
uacious. He never forgot or forgav
~ an enemy, but he usually broke MN
81 The turning point came when SON
-. wears ago he acquired the great stou
80 nuarry at Bedford, Ind. and deVeio
m. ed the insignificant Southern indiaf
=, Railroad to bring his stone produc
al to market. Incidentally he desired
n, eet even with the Monon Railroad al
ne in the course of his fight he develops
m. the ambition to throw trunk III
oh from Pittsburg to Kansas City.
oc. Early in December. 1905, the crai
came The doors of the three Wal
banks were closed, and announ'
ment was made that his liabiliti
amounted to sl5.0O0000. The Chi'
lr go Clearing House Association stepp
in and saved the depositors from ios
Walsh was accused 81 using the pc
-. ple's money to promote his railroa
-. Comptroller Ridgely stated at the uf
~, that civil. but rot criminal procee
ings would be brought against I
,banker. But later the matter "
ibrought before the federal grand lu
Asa and Mr.. walsh was indicted crim
ing ally. He was charged among 9th
ter things with misapplication Of fun
The by means of memo" notes. and vi
he falsifying bank statements For t
years John S. Miller, the famous
fender of the Standard Oil compaI
has fought every inch Of the grou
his to keep walsh from trial But aft
sti- months of delay and unavailing
tions . quash. to give a bill Of p