John R. Walsh, Chicago

John R. Walsh (1837-1911) was a native or Ireland, emigrating to the United States at the age of 12. He was orphaned and sold newspapers on the street to support himself. At 18 he became a clerk and salesman with the newsdealer J. McNally. McNally opened the first Chicagoland bookstore in 1848. In 1861 Walsh bought Giles F. Cline's periodical store. The latter store eventually became the Western News Company.

Walsh's store at the corner of Madison and Custom House Place carried a large inventory of periodicals, journals, blank books, etc. Walsh also published a few miscellaneous works including tax journals. In 1865 the firm name changed to John R. Walsh & Co. As the years went on Walsh became a very wealthy man with a net worth of an estimated forty million dollars (1.2 billion in 2020 dollars!) as a successful banker, railroad, coal mine owner and newspaper owner. Unfortunately in 1905 poor investments (using funds from his banks which were not his) led to Walsh's financial ruin. In 1906 he was arrested for violating federal banking regulations.

Walsh was found guilty and sentenced to five years in prison. He was released on parole after he had served less than half of his term. He died just a week after his release.

As a publisher, John R. Walsh in 1863 published two series for juveniles: