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WALSH'S BANKS FAIL
THREE CHICAGO INSTITUTIONS
FORCED TO THE WALL.
Had Been Putting Aosets of Chicago
National, Home Bavlngs and Equita
ble Trust Into Rall,roadB Clearing
House Saves Depositors.
Chicago, Dec. 19. Three of the
largest ilnanclal InHtitutlotiB in tho
west, the ChlcaKO National hank, the
Home Snvlngs hank and the Equitable
Trunt company, all of them controlled
by John It. WoIhIi of this city and In
a great measure owned by him, Have
suspended operations. Thoir affaire
will bo liquidated as rapidly as pos
eiblo and they will so out of business.
Mr. Walsh, who was the president
of the Chicago National bank and or
tho Equitable Trust company, and all
the other oIllccrB and all tho directors
of tho Chicago National bank have
resigned. National Bank Examiner
C. H. Koaworth has succeeded Mr.
Walsh at the head or the Chicago Na
tional bank and tho places of tho di
rectors have boon filled by men ap
pointed by the Chicago Clearing
house. Back of tho now management
stand the nlllad banks of Chicago,
who have pledged thoir resources that
every depositor shall be paid to the
Inst cent and that no cuBtomor of any
one of tho threo institutions shall lose
anything by reason ol tho suspension.
Had not this action been taken by the
oankB of the city, a disastrous panic
must have followed In the financial
world. As It was, the only effect
in thlfl city was the decline
on the local stock exchaugo of 2
in tho prlco of National Biscuit
common stock, which has employed
the Equltablo Trust as transfer agent,
and had besides dealings with the
Chicago National bank, but It is not
affected by the failure In the slight
est decree. The closing or tho two
Imnks had tho effect also of shutting
off all demand on the local exchange
for bank stocks, none of them being
purchased.
Cause of the Crash.
The Immediate cause of the col
lapse of the Institutions controlled by
Mr. Welsh is said to be the large
amount of money which they have
Ion nod to various private enterprises
of his notably the Southern Indiana
railroad and tho Bedford Quarries
company of Indiana. Mr. Walsh
claims that if ho could have had a lit
tle more time and boon loft untram
melcd in his operations he could have
caved his banks nurt made enormous
profits for himself and his associates.
lie bases thin statement on his esti
mate of tho vnluo of the bonds of
the Southern Indianft Railroad com
pany. The comptroller, the state aud
itor and tho membors of the Chicago
Clearing house committee place the
Tnluo of the bonds at one-half the val
uation of' Mr. Walsh, and it was their
TeftiBal to accept his valuation that
caused the suspension of the banks.
The liabilities or tho three institu
tions are estimated in the aggregate
at $20,000,000. Against this amount
the banks and the trust company have
renourcos that are, on a conservative
estimate, worth $10,000,000.
The directors of the two banks and
Mr. Walsh, who has turned over all
,of his private property as well as
that standing in the name of Mrs.
Walsh, have pledged real estate and
securities valued at $r.000,000 and es
timating the railroad bonds at $8,
000,000 more, making a total of $27,
000.000 assets against $2G.000,000 lia
bilities. Promises Not Kept.
For some time there has been a
difference of opinion between tho offi
cers of the Chicago National bank
and Comptroller Hidgcly regarding
the method of conducting the affairs
of tho bnnk. Tho comptroller took . whlch Engineer Harry Davis and Ex
exrcptlon to the large loans made by reSB Messenger Elmer Derrick wero
iv nun iv in mi' pnvaic uiuerpnsi'H oi
Mr. Walsh nnd declared that a por
tion or them must be called in. As
eurnnces were given to hlni, he de
clares, that Llils would be done, but
the promises wero not kept. Finally,
tho incentive to a close scrutiny of
the affairs of the Chicago National
and Home Savings banks was given
ny a nnnKoi in xsew oru, who had
been requested to take part in a syn
dicate to ftiriileh a loan or $0,000,000
to Mr. Walsh for the purpose or fur
ther expenditures on the Southern In
diana railroad. The bonds of tho
company, however, did not sell as
Tapidly as was expected, and the state
and national examiners were ap
prised or the failure of the loan. Up
to this time the banks had been ex
amined, separately, which enabled
them to transrer securities back and
iorth. It was decided that the stato
xamlner and the national examiner
should make a simultaneous investi
gation. This showed that the institu
tions had loaned a large amount, esti
mated all the way from $10,000,000
to $15,000,000, on tho securities of
tho railroads that were owned prin
cipally by Mr. Walsh alone. It Is
ald that tho paper for these loans
aimed bv clerks and that they
ero aubBtantlated by the bondB of
. .-
- W u" i,5 iwi! '7
anmtttmm)istsssB8g
Mr W'n1h' rnllmniTS tlm ftonHiorn
Mr. WRiih s railroads, tho southern
Indiana, the Chicago Southern and
the Wisconsin and Michigan. When
lh arntnlnnro lm1 mtiKlmlml thnlrrn.
port, Mr. Walsh asked for a little time,
Buying mm av cuuiu ruise miu munuy
to straighten out everything. Ho was
not as successful In this as he honed
to be, and when Comptroller Rldgoly
was Informed of tho fact he came at
once to Chicago. He called a meet
ing of tho members of the Chicago
Clearing house and Informed them of
tho situation. '
FATAL FIRE IN CHICAGO.
Number of Victims Will Not Bo
Known Until Rulno Are Searched.
Chicago, Dec. 20. One fireman waa
killed and several employes may havo
lost their lives
in a flro which do-
mol Hlirn fnetnrv of
rau sij,n factory oi
stroyed tho enarat
the Charles M. Schonk company, 7 to
1G Park street, causing a loss of
49Knnm nmll hi ruins nf thn
f""!"""' " v""
building havo been seaichod it win
not be positively known whether any
or the employes were killed, either
In tho explosion which started the flro
or by tho falling of tho walls anil
floors, which followed soon after.
While the flro was at Its height, ono
of tho walls suddenly collapsed and
a number of firemen were precipitated
in the debris. With tho exception of E?Aii, m employe of Barnes Bros.,
Lieutenant Henry Bassett of truck grading contractors, was Instantly
company No. 74, who was crushed to killed nere by railing under a passen
dcath, all or the firemen escaped with gor train. Egan was twenty-two years
a severe shaking up. A number of old. His family at Dcs Moines has
the employes were Injured In tho oeen notified.
panic that followed after the flro j ,, and Conductor Fincd.
broko out and for a time here were J ic.-Englneer
all sortB of rumors as to the number . ' . ',,.,..,., ,,.., r ;,
of persons killed.
There were forty girls and thirteen
men and boys employed In the factory
and according to the officials of tho
company, all but two persons havo
been accounted for. The police and
firemen, however, declaro that sev
eral of the employes wore unable to
make their escape and were in the
building at ie time tho floors and Glenn Mason football captain for
walls collapsed and that until the de- 1D0(J Mnson has played fullback for
brls is cleared away tho number of two years pr0fesKOr J. T. Lees, chair
casualties will not bo positively mnn of (he ij0ar(i Was elected a dele
known. The employes who are said gnte to a(tend the New York football
to bo missing by the officials of tho refornl conference.
company arc Margaret uecuer nnu
Henry Saute.
WORKMEN HARD TO SECURE.
Irrigation Projects Delayed by Inabil
ity to Secure Men.
Washington, Dec. 19. A bulletin Is
sued by the geological survey says
Mr nrwrfi1 Ivir r cnnrntnrt' rf Mlf
interior of the R.6 Grande reclama-
tion project in Texas and New Mex
ico and the Carlsbad project In New
Mexico will bring the number of
reclamation projects up to twenty
four. Or those eleven arc under way.
They provide for the reclamation of
1,303,000 acres of arid lands at a cost brother-in-law, Bert Howell, as the re
or $37,028,571. KUit of an accident whilo hunting on
On Juno 30 the total cost of con-'(ho ol(1 state rnir grounds. The
structlon and engineering work per- ciuirg0 jn Howell's gun suddenly cx
formed by the reclamation service pimie(i without any apparent cause.
iWllUllIllL'U IU $0,1U4,IUJ UIIU IIIU mini
or money available for reclamation
purposes up to the end of 1908 will
be $37,028,571.
Since the work of reclamation be-
gan seventy-seven miles of main
canals have boon constructed nnd flf-
ty-four miles of distributing canals, at
well as 180 miles or ditches and 147
bridges.
Labor, the bulletin says, is ono of
the most serious problems the engi
neers havo to confront. "Several con
tractors," the bulletin adds, "engaged
on government projects have already
failed because of their inability to se-
cure the services of a sutllcleut mini-
her of workmen and others are on tho
verge
son."
of failure for the same rea-
Work of Train Wreckers.
Emporia, Kan., Dec. 20. There is
oo doubt hero that the ditching of tho
Kimln 1 nnssencei' train at Lane, in
killed, was the work of train wreck-
ers. It was discovered that tho tool that state. Governor Mickey gives
house near Emporia Junction had as a reason the fact t'nt there Is still
been broken Into and a clawbnr and a criminal charge ban ing over Crowe
wrench stolen. Later the wrench aud In Douglas county, Nuraska, and tin
cinwbar wero found in a meadow near til that is disposed he cannot bo
the scene of the wreck. A clawbnr removed. Ho snys, (in conclusion,
ami wrench were stolen from tho
' 6mnt. tooi houso when a Santa Fo
passenger train
here laBt Muy.
was ditched near
CHICAGO GRAIN AND PROVISIONS
Features of the Day's Trading and returned from Now Jork niter taking
Closing Quotations. Prt In tho examimjlon of Insurance
ChlcaKO. Dee. hi. Uevlxed eM,nrt de- companies In the ast, says the In
1111111(1' for Amerli'Mii wheiit cmiM-d ctiencth vestigation of tbo Njw ork Lire win
In the Mhetit inuiUet here uidu, the May j)0 carried to its European business,
option fliiHiiiR wlili iu Kali. i or U4'Uke. Corn ' p, fa Btate experts
aud ontH were caeh up Vur. ProvlHloUM u' ' V Zrh irn ontlrlv sol.
Mere IMiWe Mglwr. HohIhk prlees: , round the new YorljLlfo entirely sol-
Wheut live
Hiv, Mn. Nic; July,
8Wl4e.
aiS?.r,?iS.Vi,,J.tN m'W' 'ir',4t'! M"'V' 44CSWin'bo sent to Frjnce to make the
Oatt-Dvc, aoffiiHc; Mn.r, .lUfte; July,
ao-fec
rork-.liii., H:i.,V; May, $K.0TW,.
LurU-Jau., 7.47',; May, t".1..
ChlraKo t'linli Priced No. L' hard whfut,
84V.iN.VJie: No. It hard wheat, MMJK4c; No.
S corn, 4lKu-IUHe; No. outs, ale.
South Omaha Live Stock.
KfMltlt liali Hah 111 . I . 4 4 1 I f a.iaI t m
6.000: ateadr: 'native iiteera. $3.WxrLn.60:
cowi and holfcu, uwxa.40j western
iXo-l9- &d?'.. .!. !?., '".lon and h-ojr Basgsi Usuod under
v ,
.. .,-" ""t
3'7fl! rn,,K ''ow" nn(1 'l0,rpr8' ?2.00i&J.40:
mnam ji.wnw.to; stackers and feeder,
2.233.oo; calves, $3.0OiiC.00j bulls, ataga,
etc.. l.7"i3.00. Hot-H-HwIntB 11.000;
flllllltP to Oc hither: lieilVV, $4.8284.; ,
$$$$$ lfl'uSA
Hheep KeceltitH, vu.ouoj atcauy; yearlings,
fn.XK40.w; wethers, !.rioii0.80; ewes, I
HnVuG.M); lainuw, i,.hji.hi.
Chicago Live Stock.
n.t.. lino 1(1 f'llHlnltiifnlnta.
not); Hteaiiy; common to prime stiH-rH, $:i.oo
&.7G; cows, ?'..HOii4.40; heifers, ?2.00(ii
.
r,.00; ImiIH. S2.00frl.a0: a Wickera and foed-
CW, 2.IMN.5B; cslvw, ia.fiOSI8.00. IIORS-I
lU'celpts, 40.000: 5c hlghor; choice to prime
heavy, $ri.OOf."i.lO; incdltun to c"""l heavy,
ei. W&fl.oo: liuti-herwelgiits. $i.n.f...io;
good to choice heavy, mixed, ?4.l."i(o.OO;
pnckliiK. l.MiM. Kheeii-Heeelpts, 1.-!
000; l.VJiWc lower: sheep, $4.00fJf..7ri; year-
Hobs, $0.00&7.00; lnmli. Jf-.'J.'xii'T.bO.
Kansas City Live Stock.
Kansas City, Dee. 10. Cattle Hecelpts,
14,K)0: strong to 10c higher: native steers, I
W-W-' western fed steers. f.1.2T,(04.8O;
8tod(l.H unil tevAm vfl-UiO; cows, i
$:,ooij,4.oo: helrer. $:i.oo3-i.80: calves,
vmrdlM. HnRn-ltecelpts, 11.500; 5f(7Wc
bkjlirr: bulk ot anlea, $I.MI4.07; heavy,
MIVUi.-.IV.. ..Iu ,il,.l llr.ll J .iVTil M
Hheep-Hecelpts, R.ooo: steady to shado
p-l.tir.f.vr, I'tfc" .i. "BM T ""' -jm
lower: lambs, $5.7&ii7.0O: ewcn nnd yr-
Hugs, $4.&OiiiU.2r.
NEWS OF NEBRASKA.
Egan Falls Under Train.
Bancroft, Neb., Dec. 10. James
UIIIll llllll VvVJIUIlll-I.UI I UIVIDUI1 Kl .
train that killed Mrs. Wachn some
time ago were each lined $50 nnd
costs In police court. They appealed
tho caso to the district court and
bond was furnished.
Mason Elected Football Captain.
Lincoln, Dec. 19. The Nebraska
MnVerslty athletic board elected
Routzahn and Bentley Bound Over.
Lincoln, Dec. 15. After a hearing
consuming threo days, Justice Stevens
liound over to the district court Olen
M. Routzahn, , former chief of police,
and William A. Bentley, former chief
of detectives. Both men are charged
in three separate complaints with
"vyhjB u,amail P of d,s
Fatal Hunting Accident.
Omaha, Dec, 18. Grover Murray,
an eighteen-year-old boy, living at
4005 Leavenworth street, was shot
, rimost instantly killed by his
Coffey Dies of Injuries.
Hyannis, Neb., Dec. 1C V. D. Cof
fey, who was found unconscious In a
boxcar at Ellsworth and later brought
here, tllod or his injuries. Two sus-
pects are under arrest at Alliance,
charged with "slugging" him for the
purpose of robbery. Coffey resided
in Pueblo, Colo., and is of good fain-
Hy. His wife arrived before IiIb death.
Barton Held to District Court.
Tccumseh, Neb., Dec. 1(1. Proceed-
Ings wore instituted here against
rormer btatc benator w. it. isariun.
president of the defunct (Jhambcriain
bank. The charges ngaiijit Mr. I3ar-
n is perjury in cuniieuuuii u
testimony given at the tpnl of uasn
ler Chamberlain, a mon'h ago. Ho
was bound over to tho district court.
Pat Crowe Will Notibo to Iowa.
Lincoln, Dec. 15. Governor Mickey
announced that ho edild not honor
the requisition of tlii governor of
Iowa for the removal d' Pat Crowo to
when Justice is satisB.'d in this stato
he will honor the Iovfi requisition.
Auditor Piercf Returns.
Lincoln. Dec. 151-Deputy Insur
ance Auditor Pierce lr Nebraska, who
'vent and a sUtemfi win ue isauuu
icnnn Tun nt thefcxuert examiners
miropean invciiRiiMo.
Mllearjt for fieriffs Illegal.
T.tnenin. Dec. IK Shorins in Ne
braska cannot Bf mileage pay for
transporting prlsdiera, accoroing io
Attorney Generw Brown, who has
fllnd an oolnlon iith Auditor Scarlo
declaring that Ills illegal. It was
.tftted that aherlia hava traniporta-
SSSZTr-Xi5SBB5a
co..i.4..ib w.iji the ratlrouds. A U-si
cnBo will be made with a claim of
Sheriff McI3rido of Plattsmouth as a
bafil8. TllO TUHnC If Rllst .llnnil. will
mjlt"'all' uce e Perquisites of
Seed Corn Train on Trip.
Tccumseh, Nob., Dec. 19. Tho Bur
lington Boed corn special train
reached here at 10 o'clock and was
grootcfl by a large crowd of farmem
an,i townspeople. Illusl
,Ipllv,.r,l Uv Prr
v ero tlell ercd b Pre
Hareker, T. T,. Lyon, L
Btrated lectures
Professors A. L.
awrence Brun
er and Rev. Luther P. Ludden of the
,,.., imlvcrltv nn
V, .,,.., y
oU cultivation, h&
tho subjects of
seed corn gcrmlna-
tion and seed corn selection which
were very interesting and instructive.
Many points were brought out which
will be beneficial to agric
Johnson county. The add
,, fnplv mlntna
will he beneficial to agriculturists of
resses last
ed forty minutes.
Allic Hart Leaves Blackhawk.
Dakota f!ltv. Noli. linn. IS Affnr
less than u year of wedded life with
John II. Bhibkhawk, a Winnebago In
dlan buck, pretty white Allie Hart
has forsaken her Indian home and
husband, returned to tho arms of her
parents, Dr. and Mrs. Edward Hart,
and with them left for California,
where Dr. Hart has been stationed as
an agency physician, being trans
ferred from tho Winnebago reserva
tion. The Indian husband accompa
nied tho travelers to tho train in
Sioux City and with an "Ugh" and
shrug of his shoulders bade his wife
a last farewell and then returned to
tho Winnebago reservation to take up
his abodo with, his Indian wife.
SLAYS WHILE IN A DREAM.
i Man Presented With Revolver Shoots
Sleeping Companion.
Louisville, Dec. 18. Archie Harris,
a cab driver, was shot and killed dur
ing the night by Louis Whitney, also
a cabman. It is supposed Whitney
did the shooting while asleop. He
was yesterday presented with a ham
meriess revolver and spent the re
mainder or the day exhibiting it and
expressing his pride over the gift.
The possession of the weapon Is be
lieved to have occupied his mind so
completely that ho dreamed or it all
night, and while asleep got up from
his couch and, imagining that an at
tack was being made on him, fired on
his phantom nssallant. The bullet
struck Harris, who was asleop at the
time.
Thrown From Fifth Story Window.
San Francisco, Dec. 18. The sur
geons at the city hospital have been
mnrveling at tho tenacity with which
the feeble spark of lire continues to
flicker In the crushed and shattered
body of young Mrs. W. J. Kennedy.
She wns, according to her statement,
thrown rrom a window in the firth
story of a hotel by her husband, a
private detective. He had come to
her apartments to effect a reconcilia
tion following a separation. Her jaw
and arms were fractured and she was
internally injured. The doctors say
she cannot live through the day.
To Sue Company for Lost Aliens.
New York, Dec. 18. As a result of
the disappearance from the Cunarder
Slavonia Inst week of four alions who
had been ordered deported by the im
migration authorities, United States
District Attorney Durnott is prepar
ing to bring charges agninst the
steamship company. One of the men
is believed to have been drownea
while trying to escnpe. The other
three are supposed to be hiding in
this city.
Young Sherman Confesses.
Lewistown, Mont., Dec. 20. James
Sherman, tho nineteen-year-old boy
accused or tho murder of Sam Stud
inskl, a pawnbroker, on the night of
Aug. 23, has confessed, stating that
the murder was committed by himself
alone, as well as tho dozen or more
mysterious burglaries in Lewistown
during the past year, nnd also the at
tempted poisoning of tho county at
torney and his family Dec. 1.
Imports of Diamonds Break Records.
New York, Dec. 19. Imports of dia
monds and other precious stones have
reached the remarkable total of $37,
000,000 at tills port for tho present
year. This phenomenal Increase has
been made In the race or a rising mar
ket. Diamonds, pearls and other
gems havo advanced until their prices
are now about 25 per cent over what
they were n yenr ago.
Farmers Hold Up Bank.
Waiisnu, Wis., Dec. 18. The two
men who held up tho Colby Stato
bank at Colby, Wis., were captured in
a saloon here, making no resistance.
All or the stolen money was recov
ered. Both say they are rariners and
never beroro committed a crime.
They Bald they were out or a job and
held up the bank when desperate.
Triple Tragedy at Beaumont.
Beaumont, Tex., Dec. 18. The ne
gro district or this city was the scene
of a triple tragedy. Bryan Merritt, a
motorman, and Elisha Perita, a dep
uty constable, wero Bhot and almost
Inatantly killed by Henry Powell, a
nineteen-year-old nesro, who was in
turn killed by Deputy Sheriff Red
tatlSSSSSSSXSBlxasmStaaaimtMmmmnttm rimwTT'-n. a-y.ai ...
CATARRH
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fM RMVf
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guDi
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M
Ely's Cream Balm
This Romody Is a Spoclf1c,t
Suro to Clvo Satisfaction.
GIVES RELIEF AT ONCE
It clonuses, HOothcH, heals, and protects tho
diseased membrane. It cures Catarrh nnd
drives nwuy n Cold in the Head quickly.
Ilostoras tho Senses of Tasto nnd Smell.
Easy to use. Coutnias no injurious drugs.
Applied into tho nostrils nnd nbsorbod.
Largo Sizo, 50 cents nt Druggists or by
mail ; Trial Sizo, 10 cents by mail.
ELY BROTHERS. 66 Warren St.. New York.
Do You .
Eat
Meat?
When you nro hungry and
want somothlg nice in tho
meat lino, drop into my
market. Wo have tbo nicest
kind of
Home-made
Sausages
nnd moats, fish, and game
in season. Wo think, and
almost know, that wo an
please you. Give us a
trial.
Koon Bros.,
Successors to
ROBINSON & BURDEN.
OYSTERS
in every style. Ca
tering to parties and
dances a specialty.
Fresh Bread, Pies,
Cakes, Candy and
Cigars.
MHHaWaaMIMaHMHBIiaMMBflMaWMRHnaHnHMia
The Bon Ton
W. S. BENSB. Proprietor.
HOLLISTER & ROSS
All kinds of
PR A Y I NG
Piano Moving, Furniture
Moving and other Heavy
Work our Specialty jt jt
No. 52. ...PHONES... .No. 76
LIVER-ISH
This Morning?
TAKE
i.w.Hi.i.iimim
A Gentle Laxative
And Appetizer
Tevls.
Decides Against Belasco.
New York, Dec. 20. Justice Fiti
gerald of the stato supreme court
handod down a decision adverse to
David Belasco in the latter's suit
against the theatrical firm of Klaw it
Erlaogtr.
I
ry:j'iyjt,Mp;MBwairitftt&MiW7iT
S-W fUmfOKMHiaimBaaariMSii.
