Show V FOR BANK FRAUDS Chicago Financier Faces Counts With Maximum of 1 Years Penalty 1820 4 I II ROTTENNESS IS EXPOSED I Coni Conditions I II ii lion I b II by PI I I Grand Are I l Startling More lo tu Come mimmie Chicago o. o Jan Jati IS John IS-John John R. R Walsh multimillIonaIre railroad builder and former president of oC the defunct Chicago Chicago Chi Chi- cago cage l aU National bank Savings bank and Trust company was Indicted I h by the lie federal grand jury JUI today charged with fraudulent misapplication of oC more than n 2000 of the national banks bank's funds to the discounting of or fictitious an and unsecured paper I rhe Indictment includes Include IS counts carryl ig penalties making the hl highest highest high high- h- h I est st possible sentence ISO 1820 years cars Imprisonment Im Im- Im- Im Inasmuch as such sentences semi sen I are c usually served concurrently however howver Walsh might be imprisoned I in the event o OL 0 conviction rot for or as short a II time as five years carsI cars I The end of the Investigation alion is not yet yot It Within ten days das a second In Inquisitorial inquisitorial in- in body bolly will be summoned to leJ Into the banks bank's condition during the months it was tottering Walsh Is preparing for or a fight He has hired John S. S Miller fer the Iho lawyer who won Immunity for the tho beef packers packer an and who Is now battling lint hat tp Ip save ave the 1111 Standard f Oil Bol Rottenness barged II O Overwhelming conditions of rottenness rotten rotten- ness in the ilic Cl Chicago National are charged In lii the Walsh indictment For years the Jurors Il told Walsh put the banks bank's money to II personal r account In amounts exceeding 1 a at L a fI time lime I Transactions involving OI tile the ISCU issue o ot nl two twenty memorandum notes o of s sale i-alo lI of thIrteen lots tots of f bonds tm to 10 tIme lIw bank hank and anti o of seven fifty payment b In ul Walsh h I to railroads an arid and l mistrial trin 1 concerns h bo lie to finance are aar Co covered IN I In t tie l. IN Tho rH JO v l en t prosecutor tor a an- an n- n S a policy of oC mf merciless t activity I H ity my M saying saying- ul rh n Ish in must 11 mist plead lIN within Iii I n a i fortnight ht It I In Iii four years ears ears nl to tu tin limO bond bonciC for or III hf i he b h c pINI ii hla 4 Jt 1 1111 Ii dJ 0 f U I tl th LIt 1 lt W h lW dUt i nj t t R tit 1 iii nt uni Ul h l t to tn l IH bc t nu hU lt a l the tUe a placing nr Oil iii hl hH personal account of IOS which the him him lh the Un right ht to toI tin do I It It is d he paid pah out nut l 8 77 7 j J. J Signatures 1 Not Real Hul notes boar bear names o omon of non mon 11 with Yal Walsh h enterprises NI all nil signed in the same sanie handwriting and I the hO oten ostensible signers all they a 11 bce 11 their signatures or 01 knew kne the notes existed nl Walsh's h lawyers concede this this but bu I. I I I I sa say th the sy system te m Is 18 one of ot business con con- in use in most banks that tha bank bani examiners und and comptrollers comptroller such to 10 be b. the case cafe and n no attempt Is made matle to deceive them Through lawyers Walsh gave ou out the following statement upon the n. n i-c- i t urn lurn of the Indictment nt Walsh is en entitled entitled en- en titled to suspension of public Judgment judgment Judg judg- jUlIg 1 ment until he has hatS had a fair trial The Indictment doesn't raise even a presumption pre pre- of guilt Mr Ma Moxe Moxey go gov- 1 expert export worked eight months month IC 10 o acquaint himself l with the accounts In n the short shoat time lime during which the Jury jur ur considered led the case Moxey tox could only testify to conclusions not to specific pacific facts much less to all facts I which would explain or justify acts presented In tn part In the ab absence of ot ofin in nn opportunity for Cor Walsh to defend It t was natural for the Jury to accept Moxey's statements I Defends n Wal-h. Wal I h. h Walsh line has for tor over half a century be been een n an active factor In building up tip this great city Ills master mind has contributed to developments of or- lar largo large o op p of three states 8 of Illinois Indiana and Missouri No man has ever yet lost a dollar b by trusting him The banks were closed and a great loss to him was caused by the sudden action of or others without notice or opportunity on his part art taking steps to avoid a It He lie knows mows the charges are arc not founded rounded on on facts acts It Is apparent the government didn't fully Cully present the case Grand jurors hear but one side Walsh desires de 10 sires that both sides be he hoard heard h by a petit jur Jury The basis of or the offense defined by bythe bythe bythe the national banking act is criminal Intent The defense nse will be that In Inthe Inthe inthe the whole course COUlSO of or hl his life lire Walsh never did a criminal act act It was announced after atter the Indict Indict- ments that the bond given Iven by Walsh before Commissioner Foote following the formers former's arrest last February will remain In effect until a aI anew anew I new one Is Js prepared and signed |