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Show PEOPLE TALKED ABOUT J 111 llllll II X llll HWtfl I ig-J DOWNFALL DUE TO BAD TEMPER , J John U. Walsh, who, after n long trial, was 'i found guilty of wrecking the Chicago National 7. - A' bank, of which ho was president, owes his down- ' ... -5 fa" t0 h'lB ,ra8cll)lllt'' w Moro ot tho ch,ca , B & Eastorn Illinois called upon him ono morn 1 f 'ror jCwifllv 'nB sovcrn' yeora aBo to niako arrangements for tfr nn cxcnanS ' traffic between his road and the tWOfwt1 ' Soutncrn Indiana, which was controlled by Walsh ' ' Sjiii-vl ' f (. nnd which had no access to Chicago, being there-' there-' ''Zsr y compolled to depend upon connecting roads. nEfGSs. Walsh was in a moro thnn usually bad temper and Y?-JoA;5' irritably asked: "What do you mean by coming v xU -e' down ero heforo ten o'clock In tho morning?" Moore loft tho office in a rage nnd when Walsh k reopened negotiations later Moore replied that ho gvv. I I had no facilities for handling Walsh's cars. "Haul them or I'll build n road to Chicago myself my-self and you will not got n pound of coal from any of tho mines nlong my road," was Walsh's ultimatum. Tho Mooro road bought up all tho mines along tho Walsh road by way of revengo nnd refused to ship. Walsh started to build nn extension into Chicago, but the cost wob bo great, Walsh having already loaned 115,000,000 belonging to his chain of banks to his other enterprises, enter-prises, railways, quarries, gas and traction companies, that tho banks becamt embarrassed. Tho national bank examiner was kept Ignorant of tho truo statu of affairs for a time, but tho condition finally became known and Uie bank was closed. Walsh wns born In Ireland In 1837, nnd enmo with his pnrents to tlm United States when he was ten years old, Bottling In Chicago. Ho found employment as a newsboy, proved very energetic nnd Intelligent, nnd In 18G1 established a news business of his own. Later ho consolidated this with tho American News Company, becoming president of tho Western News Company. Com-pany. All of theso deals proved prolltablo nnd laid tho foundation for Walsh's career as a financier. |
