| Show Y f f 1 11 va 1 WALSH GUILTY ON l Hij 31 It l J d I t Jury Finds Ho Misappropriated i tI Funds of Chicago Na National i i it lonal t Bank J l il lJ J td t i WAS OF CONCERN J ii l ij i iI i Penalty for Crime is Imprison Imprisonment I k kment ment tor or Period of Not Less f r 1 n 1 Than Two Years Yams i it t i 1 d II Not tho K uh lUI UP J H Hor Of or rint for thc f 1 r Term i 1 j ie b Jan IS Walsh i L i ift ft Of or the tha defunct rl Chicago Na National o t bank banI was wal today fO found Uld guilty of 9 1 i ti the funds 0 ot r that lii i Tha jury juro Which had bent c n I jL U the case clae since Thursday r afternoon reached rl ach d an short shortly sh rt j j 1 ly Iy 1 3 this morning but the tha l verdict wn was not announced until after I tA Ii Iii i n court reconvened at 10 Tha j Ii penalty under tho law III for tho crime or litt 1 which Walsh was a s convicted Is Imprisonment I i for a period of not no leas les than 11 yeal u It does not permit the sub substitution r of a lino for the tho prison I h Walsh was WIlS found guilty gull ty on 64 51 counts f i Tho original Indictment contained Ined fl counts Demurrers wore sustained as asto it r to 32 which left upon which I c 1 the Jurors were required to pass paBS k Tho fhe verdict was read by the clerk of f the tho court at 1017 Immediately after I tho reading of the finding attorneys for f C f Walsh asked that tho jury be polled t t This was done h 1 t CLOSING OF nAI r N I iH The Tho charge chargo against Walsh grew grel out j 1 of the closing In 1903 ot of the Chicago n f National bank of or which Walsh was r J president and its allied institutions tho Home Savings bank and tho Equit Equitable f t ii able Trust company Walsh was WIlS ac lIe accused of having loaned lor funds ot these t institutions aggregating on 0 fictitious and secured struggling enterprises which ho V 1 It hud had founded and practically owned Many of or tho notes It devel developed 1 t at the trial were signed without authority by b tho names ot various em ot of 1 Tho directors of tho bank testified ii d they the were not consulted by Walsh as asto to tho making ot of the tho loans that they tho I iJ f know nothing ot of them Twentysix ot tho notes described aa as memorandum J I dum lum notes and they tho formed one ot t tho chief features of the tho trial They rhey f represented more than Meth leW Methods f 1 ode of concealment employed ii the transactions on the books of Jf hf the bank alleged misrepresentations J made in reports to the national l hank ank examiners tho th In I r iii Ignorance of the tho true condition of tho It bonks banks finances und and the tha nature of their r f securities for several years ars prIori prior to I tho closing clo of the tho institution I DEFENSES SES THEORY Et i r Tho defense defenso took tho ground that all aU 1 of or the tho Walsh enterprises were built up In order to save savo and protect original i loans by In good goo faith The Th jA claim was III so made that Walsh did f jil not hold the tho controlling interest In the fi i corporations which profited by the I j II t loans but bu t that the Chicago National NatiOn t bank held Ml It Walsh Oll a 0 Ij trustee and a n conservator ot tho buns h interest Walsh was WM on the witness 8 itI i it stand for two days He admitted neur j ly 1 nil 1111 of ot the charged I against him hut clung to tho defense that all he did wan for the good of tho jl l bank banle he ho headed and that all of the tho loam proved good and that no one lost anything In III consequence of them H Jt In substantiation of the latter claim J the th defense offered evidence evl to k that since the tho closing of the banks tl Walsh had bought back the collateral f taken from him by the tho clearing lions hOU A t banks to giving CI i In payment a Il note noto for the tho same t amount payable in Iho years The J y collate u released Walsh was able l H to go ahead ah ad with the building of Ills his i railroads Another tact fact brought out I 0 wan that Iho tho Ati Hanks of Chi Chicago i it r cago O took a n pro rata share ahara of the 7 li i loan negotiated by Walsh for or r tho redemption of hla and 6 that banks hold the stocks W and bonds which Walsh prosecuted for fOl making loans loana upon This circum circumstance iIIi 1 ii L stance stanco was WI made the basin basil of ji I I claim brought out at ut the trial that the L value oC of the had been Il en i j t Tho trial covered a 11 period of nine nino and was twice t Interrupted by b of ii WALSH UNMOVED tho verdict with lit m little Yr it tle show of or emotion Jut but ono one of ot the tho n 1 Palmer lalmer of ot Harvard III I d 1 I burst hurlit Into as ho took his scat In J tho jury box and was War no o overcome dur during UI ing In the that ho he WOH IM i iI ly I able to answer the tho clerk when Mk Hiked t tId ed Id Ie the finding represented his view p as to the tho guilt of tho defendant i AH 8 the clerk cllrk rend alt tho names tha tho tY 1 In III turn hID hlo question In tho When it came camo turn to respond he hI arose hta hla head hoad swayed un 1111 If about to muttered something behind Ii his hili hand Not until the tho question had been repeated n I third time limo did the tho Juror control his feelings lo to reply Formal motion for a n now new trial was WI by liy Atty John S Miller and Anderson sot set tha tho hearing of tho Iho for Fob X eb wall al allowed lowed lowett to remain nt lit liberty on the sama som l bond ond had been beon given af ur after r ter hilt lilu Indictment by 11 the tho federal grand frand JUI lury |
