Rensselaer Semi-Weekly Republican, Volume 40, Number 22, Rensselaer, Jasper County, 22 November 1907 — WALSH TRIAL OPENS. [ARTICLE]

WALSH TRIAL OPENS.

Millionaire Charged with Defalcation of a Large Sum. John R. Walsh, the Ghieagorail road magnate and millionaire, intimate friend of Senators, Congressmen and kings of finance, faced the federal court Tuesday to answer charges of defalcation of $15,000,000. Because of former associations with the banker, Judge Landis, of Standard Oil fame, refused to hear the case, and Judge Anderson of Indianapolis presided in his stead. Walsh has an array of counsel, whose fees are said to aggregate $250,000. John S. Miller, “the SIOO,000 Standard Oil lawyer Attorney Hynes and other legal stars are among thenh . : ■ ' —: - .... Among the witnesses ordered to appear for the government are the directors and officers of the defunct Chicago National bank, Home Savings bank and Equitable Trust Company, three institutions wrecked by Walsh methods; National Bank Examiner Moxey, Etta McLean, the federal attorney’s former stenographer, who was arrested for the theft of papers from his office, and the “dummy” signers of notes. Miss McLean was released later. Walsh is under two indictments of more than 150 counts for the alleged looting of the banks. The funds were used in 1905,-it is charged, for building his railroads in southern Indiana. Walsh began business life as a newsboy. Walsh was considered the financial king of Chicago.