Rensselaer Semi-Weekly Republican, Volume 40, Number 41, Rensselaer, Jasper County, 28 January 1908 — BANKER WALSH GUILTY. [ARTICLE+ILLUSTRATION]

BANKER WALSH GUILTY.

Former Financial and Political Chief in Chicago Is Convicted. The jury in the case of John 8. Walsh, the Chicago banker and politician, found the defendant guilty. Tho trial was one of the most bitterly contested legal struggles known Id the history of the Chicago federal courts. Walsh was a unique figure In the history of Chicago. His growth has been practically coincident with the growth of *Jie city. As g.boy he came there when the city was a village, and as a man the village that be knew has grown to as great proportions as himself. Irish emigrant, newsboy, small merchant, politician, banker, railroad president, and newspaper publisher mark the chapters to- the life of John R. Walsh, central figure in the great trial recently closed. It was In 1860 that he made hlq first great stride toward his millions. The war coming, and Walsh was the first man in the west to see the great possibilities of general circulation of the newspapers. Id partnership with McNally he founded the Western News Company. Dec. 18, 1905, It was announced that Walsh’s banking Institutions had been declared Insolvent by the authorities. With this announcement came the assurance that the banks of the city had rallied to the assistance of the deposit-

ors and would pay all indebtedness. Investigation of the failure continued until early in 1906, when matters became serious for Walsh, and he was arrested on complaint of the district attorney. The main charge on which Walsh was placed on trial Is in effect that he on Nor. 18, 1906, in sworn report to the comptroller, understated the amount of the bank’s loans to its officers and directors by nearly $3,000,GOO, and overstated other loans to a generally similar amount The result was tp hide the fact of $8,000,000 loans tqr Walsh to himself. Tragedy and scandal entered the case for the first time when Attorney Hamlll was made the target for the weapon of Mrs. Beatrice Metcalfe, who followed the lawyer out of the courtroom and fired at him in an effort to kill him. John R. Walsh’s conviction of felony in toe seventy-first year of his age came as a shock to the community where he has lived and prospered for so long. Until a little over two years ago bis position in Chicago waA and for many years had been, one of Influence and respectability. He was supposed to be a very rich man. He bad taken a part In every great enterprise for the building up of the city. His judgment was respected, his integrity unquestioned. Aid now, in bis old age, twelve of his fellow citizens, after probing into bis life, declare him guHty of a serious crime, punishment of which is imprisonment

JOHN B. WALSH. Chicago Post.