The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-01-19
JUROR WEEPS WHEN
VERDICT IS GIVEN ]
aGives Vent to Tears as
He Reluctantly Acqlli-
esces in the Verdict.
VETERAN BANKE Err
is FOUND GULL LTY
Former Head Of the Dcfunct
Chicago National Bank Con
victcd on Fifty-Four
Counts Says He
Fight HasJ Just
Begun.

= =
CHICAGO. ILL, January 1s.-John
r.. Walsh, former president of the Chi.
cago9 National Bank, which closed It's
doors In December, 1905, was found
guilty to-day on nfty-four counts of
the Indictment against him, charging
mlsapplicatior, OF the banks funds,
The verdict was returned by a jury In
the Federal District Court here. Walsh
was permitted to remain at liberty
under the bond furnished by him after
the Indictment had been returned
against him one year ago, pending the
hearing OF arguments on January 2Sth
on motion by his counsel for a new
trial. II.
The penalty fixed by the statutes for
the offense OF which the aged nnan-
c!er was convicted Is imprisonment for
not less than five years nor more than
ten. for each count upon which his
guilt was established
Jurymsn Wceps.
Tho reading OF the verdict was fol-
lowed by a scene intensely dramatic.
When the jury was polled at thu re-
quest Of Attorney John S. Miller. OF
counsel for the defendant, Elbert
Palmer, a 1uryman from Harvard. Ill,
vas overcome by emotion, and wept
IL he signified his acquiescence in the
bindings. He sat with head bowed upon
his hands during the preliminary pro-
:eed!ngs. and failed to rise to his feet
" the others had done to reply to the
Interrogation by the clerk: Was this
IN your verdlct7"
A bailiff touched his arm when his
turn to answer came. He apparently
had not heard the question, and 1t
was repeated. Palmer arose and stood
faadi3S, H. of
muttered something unlntelligible to
the court and attorneys. Under
prompting by Judge Anderson the
Juror then replied. while the tears
coursed down his cheeks: 'sYes. under
the Instructions as l understand them
When the poll was completed Palmer
was questioned further by the court,
at the request OF Attorney Miller and
in answer to the question he replied:
II have to say yes"
Palmer was largely responsible for
the long deliberation4 Of the jury. SO
insistent was he that Walsh should
be acquitted that he forced his fellow
jurors to take separate ballots on
every one of the l5O counts in the
Indictment.
He Is such an old man-over sew
enty years" Is said to have been the
constant plea OF Palmer. HE was
fs teCnHlCdlly SulltS, Dut 5uOtte %ol 3Hlb
depositors lost, and what is the use
OF sending an old man to prison?" he
he Is quoted as having urged upon the
other Jurors. He is said to have wept
at times In the jury.room.
Fight just Begun.
Walsh. who sat ut a table surrounded
by his attorneys, appeared less moved
by the result OF the long trial than
almost anybody else concerned. He
was Immediately surrounded by a
score Of personal friends. who pressed
and encouragement. To these he
made brief replies. smiling family az
he shook the proffered hands.
Appealed to for an expression of
opinion as to the finding OF the verdict,
he said: The fight has just begun;
have nothing further to say. Almost
Immediately he left the courtroom:
The verdict was the result OF nearly
thIrty-six hours elaboration on, the
part OF the jurors. The reading OF the
verdict was followed by motion hy
Attorney Miller for. a new trial. Judge
Anderson GRANTED permission for the
filing of the motion. and said that
tho attorney would be permitted to
make the formal application later, and
that he woud listen to arguments OH
the same on January 2Sth-
FL Grow Out of Bank Failure.
The charges against Walsh grew out
of the {cl losing In 1906 Of the Chicago
National Bank. Of Which Walsh was
the Home Savings Bank and the
Equitable Trust Company.
Walsh was accused Of having loaned
funds OF the Chicago National Bank
and its allied institutions, aggregating
some 100000, on fictitious and In
sufficiently secured notes to nearly a
score OF struggling enterprises. which
ho himself had founded and practically
owned.
Many Of the notes were signed, with
out authority, in the names ofSvarious
employees Of Walsh.
Tho directors OF the Chicago Ma:
tcnal Bank testified that they were
not consulted by Walsh as to the max.
nothing OF them. Twenty six ofsthe
notes were described as me memorandum
3 notes. and they formed one Of the CHIEF
features OF the trial. They represented
more than $20oO,000. Methods Of con.
cealment employed In carrying The
transactions on the books OF the bank
and alleged Misrepresentation made
{ In reports to the national bank exam.
liners kept the latter In ignorance 81
the true condt tionst OF the a banks
finances and the nature 8of the securl.
ties for several years prior to the clos.
Il Ing of the institution. s,3 M
The def ense took the, ground athatfal
* OF the Walsh en- terprlses We're bull
up in order to save and proteet orig;
Ina. i1 Il, looms made by NYalsl i In. go9ot
4 Walsh did not hold the con trolling ii;
ed by the loans, but that the Chi,
eago National Bank held it., :Waish7he
{ Ing onl y o trustee and q conserYatol
y Of the banks interests. Egs Il We
Walsh admitted nearl " al OF tn,
transaction clar.g Cd against him, ihu
clung to the defense that al 4 he x dic
was for ! he. good q 5ot5 the bankssh,
headed and tall t he loans proved goo,
& and no one lost anything In conse
quence5 of VI til ell, sgl s Il; 3s ;;f
~ sl Discrimination, the Ia ter elaln
Al the efense8 off cred ev enc q Il to shoN
that since the; closing of Il the banks
1continued on I'll ira ] Pasea