17276. Ohio Life and Trust Company (Cincinnati, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
August 24, 1857
Location
Cincinnati, Ohio (39.103, -84.515)

Metadata

Model
gpt-5-mini
Short Digest
057c8845

Response Measures

None

Description

The Ohio Life and Trust Company suspended in late August 1857 and subsequently underwent legal proceedings and receivership (Sheriff of Hamilton County appointed receiver; U.S. Court later involved). The failure was due to adverse bank-specific investments (large advances on railroad bonds and other unsound securities). Sources describe suspension/failure and later appointment of receivers; there is no clear, specific discrete run triggered by a false rumor described in the articles.

Events (2)
1. August 24, 1857 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Heavy losses from investments/advances in railroad bonds and unsecured advances; liabilities reported at $5,000,000 to $7,000,000 against $2,000,000 capital.
Newspaper Excerpt
Failure of the Ohio Life and Trust Company. NEW YORK, August 24.-The Ohio Life and Trust Company has suspended.
Source
newspapers
2. October 18, 1858 Receivership
Newspaper Excerpt
An application for the appointment of a Receiver before the Supreme Court, has been granted, and the Sheriff of Hamilton county has been appointed Receiver.
Source
newspapers

Newspaper Articles (25)
1. August 25, 1857 New Orleans Daily Crescent New Orleans, LA
Article from New Orleans Daily Crescent, August 25, 1857

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h FURTHER BY THE ANGLO-SAXON. Z i Our advices by the Anglo-Saxon state that the o laying of the Ocean Telegraph is progressing favorP ably. a The rumored suspension of negotiations on the Spanish Mexican question is not confirmed. France, Russia, Prussia and Sardinia have suspended relations with Turkey. ADDITIONAL BY ANGLO-SAXON. NEW YORK, August 24.-The Telegraph fleet was detained at Velantia, Bay until the 7th. The Agent of the Associated Press at Liverpool received a dispatch dated August 10th, from on board the Niagara, stating that 300 miles had been laid, and that all were more and more satisfied of their final and complete success. All on board were well. They had moderate westerly winds. Arrivals Out. The Atlantic and Vanderbilt arrived out at Liverpool on the 11th. The latter made the passage in nine days and thirteen honrs. England. Palmerston stated that 30,000 troops have been sent to India. D'Israeli declared that this year's campaign was lost. There is no later news from India. France. The Emperor and Empress had returned to Paris. Spain. The Madrid papers state that the Spanish Government has information of another filibuster expedition intended for Cuba. Liverpool Markets. LIVERPOOL, August 12.-Western Canal Flour 30s. to 30s. 6d. Red Wheat Ss. to 8s. 4d. White Wheat 9s. 3d. to 9s. 9d. Yellow and Mixed Corn 36s. Pro1 visions closed firm. Lard 70s. to 71s. Coffee is firm. Rice dull. Arrival of the City of Washington. NEW YORK, August 24.-The steamship City of Washington brings Liverpool dates of the 12th. Her advices are unimportant. James Murdoch, the American tragedian, is a passenger by the City of Washington. The Telegraph Cable. We have nothing further from the telegraph fleet by this arrival. Victoria to Visit France. It is expected that Victoria will soon visit the French camp at Chalons. Spain. Advices from Spain state that the wine crop is insignificant. Powder Mill Explosion. WILMINGTON, DEL., August 24. - On Saturday S. afternoon the powder mill of Messrs. Dupont, near this place, exploded. Mr. Dupont and three other men were killed and two others were injured. Failure of the Ohio Life and Trust Company. NEW YORK, August 24.-The Ohio Life and Trust y eCompany has suspended. There is great excitement in consequence. CINCINNATI, August 24.-There is considerable exncitement here in consequence of the failure of the n Ohio Life Insurance and Trust Company. It is feared that the house here will not open to-morrow. t Domestic Markets. to NEW YORK, August 24.-Sales of cotton-400 bales ul of closing steady. Ohio Flour, $6 50 to $6 90; White a Wheat, $1 60 to $1 70; Corn, 85 to 90c. Provisions firm. Lard, 163c. Sugar and Coffee quiet. KCINCINNATI, August 24. - Flour, $5 to $5 25. a Wheat unchanged. Corn dull. Bacon Shoulders, er 12c.; Sides, 14c. n Steamboats Passing. f. VICKSBURG, August 24. - The Pete Whetstone passed down at 9 A.M., and the Henry Choteau at 4 yesterday. in

2. August 25, 1857 The Evansville Daily Journal Evansville, IN
Article from The Evansville Daily Journal, August 25, 1857

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The Ohso Life and Trust Company, CINCINNATI, August 24-P. M. A good deal of excitement on 3d Street, owing to the suspension of the Ohio Life and Trust Co. It is feared the Bank here will suspend. It is not known now whether they open to-morrow or not. They say the New York suspension is but temporary, but the contrary is feared. Exchange on the East sold at & premium.

3. August 25, 1857 The New York Herald New York, NY
Article from The New York Herald, August 25, 1857

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EFFECT OF OPERATING IN RAILROAD Bonds-The Ohio Life and Trust Company has just been stranded on that rock on which so many banking and commercial institutions all through the country are being ruinously wrecked-namely, operating in railroad bonds and stocks. The annonncement caused a great sensation in Wall street yesterday, and of course it is not to be expected that the effect of this failure will stop there. Other companies and firms having large business transactions with It will be drawn into the vortex, and announcements of other failures may be daily looked for. We refer to our financial columns for further particulars on this head. The Ohio Life and Trust Company is an old institution, and has hitherto enjoyed unlimited confidence. Its capital stock was $2,000,000. It is not many days since it paid a semi-annual dividend of five per cent. Its shares of stock were quoted in Wall street within the present month at 102, and transactions in it were done within the last week at from 98 to 95. Now all is gone, and nothing is left to the unfortunate depositors and shareholders than to bewail their ill fortune in having anything to do with the concern. A hard and bitter lesson for many poor families whose all was invested in it. The company had its principal place of business in Cincinnati, and had also a branch house in Wall street. Its legitimate business was to issue bills of exchange between the Western States and New York, to advance money at interest to commercial houses, on good security, and to receive deposits on trust A large proportion of Its capital was supplied by these deposits. It was not a bank of iseue. If it had confined its operations to this course of business it might have gone on safely and swimmingly, and those who deposited their money in the concern would have had no cause to regret doing 20. But like too many other banking houses and individuals, it was not content with its fair and certain profits, but must needs invest in railroad bonds. It made large advances to Western railroad companies on the hypothecation of their bonds. To one railroad company in Ohio It had advanced in this way some five or six hundred thousand dollars, and to another two hundred thousand dollars. The security being almost worthless, the result that might have been expected ensuedthe company broke down under its heavy liabilities, and is now a wreck. The loss will fall, as usual, on Innocent parties. It will fall on the stockholders, on the depositors, and on merchants here and in the West who may have drawn bills of exchange within the last week in favor of their correspondents. There was an immense amount of business done in this latter shape, and therefore the transactions of even two or three days would figure up a very large amount. The moral of this lesson is that which we have been preaching to our readers day after day:have nothing whatever to do with railroad securities. When they ruin a company with an almost unlimited command of capital, and possessing the very best means of judging of their worth. what chance have small capitalists to escape? It is well known that most of our Wall street banks have gone largely into the same losing business, and that however they may procrastinate the evil day, it will come at last. And when it comes there will be the same story of depositors wrecked and ruined in fortune. We have done our duty in sounding the note of warning. Those who heed it not have but themselves to blame.

4. August 26, 1857 The Evansville Daily Journal Evansville, IN
Article from The Evansville Daily Journal, August 26, 1857

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EVANSVILLE, IND. DNESDAY MORNING....AUGUST 26. EE FIRST PAGz.-"Reminiscences, by Hon. O.H. mith." # Ohio Life and Trust Company. The failure of this Institution must produce a monetary convulsion throughout the West, if not through the whole limits of the country. It is an institution that has enjoyed the most unlimited confidence at home, and possessed the firmest credit among American corporations in the European market, for forty years. In all former monetary crisises of the country, public confidence in it has never wavered. In the universal suspensions of specie payments in 1837 it was the only bank in the country almost, that persevered in the redemption all its obligations in specie. Its charter was perpetual and its franchises were deemed so valuable that it could not risk their perservation by a suspension when the country seemed to assent that all similar institutions-might for the public relief, be released for a period, from the penalties of suspension. It stood firm and steadfast when all others yielded. That such an institution in a season of comparative ease--with the bright pecuniary prospects which now cheer the country, should suddenly fall, without a single admonition of weakness or derangement, will produce a most profound astonishment. It will shake the fabric of credit everywhere. In Europe, its effects on American securities will be most disastrous. It will arrest all new negotiations-and it will cause a return flood of those which have been purchased there for permanent investment; and a tide of the precious metals will go out of the country in payment of them that will reduce the narrow basis of our present bank issues. It is difficult to predict the wide effects of the disaster. Upon us and our immediate neighborhood, happily it can not have much effect. The old Bavk has just closed all its affairs and settled its own obligations and collected its debts from the people The new State Bank has not yet entered upon its career, and has but few loans out, and no obligations issued. Our Free Banks have been so hard pressed by the Cincinnati runners for the last six months, that they have been reducing their business to the narrowest limits of prudence and safety. They are beyond the reach of disasters and convulsions. We are informed that though our Banks formerly kept accounts with the Life and Trust Company, they have gradually withdrawn their business from that nstitution, not from any want of confidence in it, but from the imperious and unaccommodating spirit it has manifested towards what it denominated provincial banks-and for the last few months they have had no accounts or dealings with it. Though the great calamities may fall so lightly upon us, we cannot but tremble for its effects upon those around us, and especially upon the inflated and unsound condition of money affairs and credits in the great Northwest. It will fall there, we fear with the startling effects of Gen. Jackson's specie circular upon the expansions at the West in 1834 and '36-like the lightning from a cloudless sky-like the knell of death amid a revel, when hopes were brightest-and the throng was gayest and most thoughtless of danger. We may congratulate ourselves perhaps that we are not among the fastest ones. Old Fogyism is, perhaps, to have its day and may, for a season, boast of its wisdom and prudence undisputed. The capital of the Life and Trust Company, is, we believe about $2,000,000; its liabilities are reported to be between $5,000,000 and $7,000,000. It has not for many years issued any notes as currency. Its liabilities are upon its bonds-its trust funds-and to its depositors. Its defalcations will fall chiefly therefore upon capitalists; the people at large will be but slightly affected by the failure except by its consequences upon the general business and currency of the country. Yesterday the panic was greater apparently in Wall street, than in Cincinnati, we presume, from the fact that its loans were chiefly made in the latter city, where the people are its debtors; and in New York its credits and liabilities were principally created. We may magnify and misapprehend the extent of the evil consequences of this unfortunate event, but we apprehend it will form the crisis of disasters which the bears have been so confidently predicting for the last six months. # Is Sambo a Citizen? The Supreme Court of Maine has decided that free colored persons of African

5. August 26, 1857 Wheeling Daily Intelligencer Wheeling, WV
Article from Wheeling Daily Intelligencer, August 26, 1857

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SUSPENDED. NEW YORK, August 25.-It is reported that two heavy banking firms in Wall street, John Thompson, and De Laney & Co., have suspended. CISCINNATI, August 25.-The Ohio Life and Trust Company suspended to-day. Great excitement prevails. [SECOND DISPATCH.] CINCINNATI Aug. 25.-The Bank excitement is subsiding. Not mneh of a crowd on Third street. Matters now look quiet.

6. August 27, 1857 Delaware Weekly Republican Wilmington, DE
Article from Delaware Weekly Republican, August 27, 1857

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be printed, are the only ones which are away from the office, and the committee will, doubtless, take the proper care of them, and the printer is under the same responsibility to return them uninjured that he was under to return uninjured, the important agreements which the watering committee directed him to priot a few weeks since. The clerk is not responsible for interlineations and crasures if made by the committee in the progress of preparing the ordinances for publication, other erasures or interlineations were made by direction of Council while the ordinances were on passage, the immemorial mode of altering a bill on its passage in Council being, as it is in many bodies, by erasures and interlineations of the original bill. H. HARMAN. A FEMALE COWHIDING A BURGLAR.-Th residence of Mrs. Madden, Williatnsburg, N. Y., was entered by a burglar a few nights since.The fellow must have indulged rather freely, from the fact that he helped himself to some refreshments, and then camped down upon the floor, where he fell asleep and remained until morning. Mrs. Madden went down to the basement, and perceiving the sleeping intruder, locked the door, and seizing a cudgel commenced to lay it over the fellow with a good will. Having a striking proof that something unpleasnt was transpiring, he ran about the room in bewilderment, the lady all the while showering down blows upon his head and body, until he finally escaped by bolting brough the basement window. The failure of the Ohio Life and Trust Company turns out to be very disastrous. With a capital of two million of dollars this corporation fails for from five to seven millions. It was a Cincinnati concern, but ventured into the vortex of New York speculation, where it was swallowed up and ruined. The failure has created a panic in Wall street, in which the banking houses of E. S. Munro, John Thompson, and De Launay, Iselin & Co., suspended. PATRIOTISM vs. THE Росккт.-Wе perceive in one of our Southern exchanges that a confectioner in the city has generously offered to set apart one cent for every glass of ice cream or sherbet he sells throughout the week from the 18th inst., to be appropriated toward the fund for the erection of the Washington Monument. The force of patriotism cin no further go.' SPURIOUS CoIN.-A quantity of spurious coin, purporting to be five dollar gold pieces of Becker's North Carolina mint, were offered at the office of a broker, in Augusta, Georgia, on Wedneseay. The Constitutionalist says this spurious money came from Edgefield District, South Carolina, where there is, no doubt, tion. a gang of coiners and counterfeiters in operaDRUNKENNESS IN CANADA.-The Toronto Times states that last year one eighth of the gross population of that city was arrested for drunkenness, and that at a recent feast the cost of the liquors exceeded the contributions of the city for one year to all the public charities. There are nearly 500 licensed and unlicensed groggeries in the city. THE SEASON IN ENGLAND.-The London cor respondent of the New York Commerc ial Ad vertiser says; " The summer continues withou a single day of cloud or rain, and the harves is everywhere being secured In the most splen did order." GERMAN EMIGRATION.-The emigration from Germany to America has taken an increased start this summer, 10,000 able-bodied men having departed from the duchy of MecklenbergSchwarin alone. THE LATE FAILURE IN ENGLAND.-New York, Aug. 20.-We learn by the City of Washington that the failure of Carr, Brothers & Co., of Newcastle, is for a sum equal to $3,000,000, but the investigation of their accounts is said, thus far, to have resulted very satisfactorily. PREPARATIONS EOR REJOICING.- Portland Aug. 25.-Phe city government has resolved to fire a salute of 100 guns, and to ring the bells on the receipt of favorable news from the Sub marine cable fleet.

7. September 1, 1857 Kanawha Valley Star Charleston, WV
Article from Kanawha Valley Star, September 1, 1857

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Ohio Life and Trust Company. This institution has suspended. The news is that the building of the Trust Company, and the ground upon which it stands, in Cincinnati, has been attached by the Sheriff. A telegraphic dispatch says : "The President of the Ohio Trust Company, in a card, says that the capital of the company is $2,000,000 ; that it is sound and reliable, exclusive of anticipation losses from insufficient securities. The New York Tribune says the liabilities are estimated at $5,000,000 to $7,00,000. LATEST.---By the boat last night we learn the company is able to pay all it owes to its creditors, and to pay its stockholders 50 cents on the dollar.

8. September 2, 1857 Staunton Spectator Staunton, VA
Article from Staunton Spectator, September 2, 1857

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SHOINVTTHOSIW The Woodstock Tenth Legion says oats offered in that market at 20 cents per bushel. Benj. M. Samuels, formerly of Sheuandoa county, Va., is the Democratic candidate Governor of Iowa. Among the importations at Boston from land last week was a quantity of human hai valued at $2,624. The President has appointed Beverly Tucke of Virginia, Consul at Liverpool, in place Nathaniel Hawthorn, resigned. The editor of the Chicago Democrat, Brayman, has been arrested for robbing mail from the Post Office in that city. Suorts Area eq 01 pres st mil usuise good Dr. T. M. Tate, the State Senator from Wash ington, Smyth and Wythe, has been appointe sixth Auditor of the Post Office Departmen and has tendered his resignation as Senator. The Kansas "Herald of Freedom" of the ultimo, says there will be no invasion of sourians at the election in October, and that USE eq you IIIM taxes jo duemint fication Joj voting. The Frederick (Md.) Union states that B 01 sit Smight st 10J potato considerable extent in that vicinity, and that loss of some of the farmers in consequence there of II!M go NEVER WHITEW ASH TREES.-The orchardis STOTS II" underst ship B only Face his 108 planos out uodn contrug 's lave 1841 no matter what they are or what is claimed them by charlatans or empiries. The New York Express says there has of arisen wsub-division of the Republican known by the title of the Brown Republicant as distinguished from the Blacks. The Brown are slightly of the Young America order. A murderess, named Charlotte Jones, is public Pa to uosped u! oution. A few days ago, says Pittsburg her sister expressed a wish that Charlotte send her some money to purchase a new that she might go to see her hung! The Cincinnati Price Current says the nawha Bank of Virginia is involved by the ure of the Ohio Life and Trust Company, and notes were generally refused in that city Tuesday. Some of the brokers offered to dollars only uo conts Any 10 them REV. RUFUS W. GRISWOLD, an author of siderable power and whose literary works editorial labours have made him well known the reading public, died at his residence in York on Thursday evening. He has suffere from a lingering illness for some time past. A MARRYING WOMAN.-The Petersburg press mentions it as an unquestionable truth, OUM North u! ившом ordeu B st married eleven husbands, and followed them into euod MOU suq oum puu STARES their 01 melancholies because her master had refused her 01 question WHAT WE DRINK.-The spurious wines of porto, recently seized by the Portuguese gover ment, were made of molasses, alcohol, and coloring substance. Thousands of pipes of mixture have heretofore been sent to Englan to the Continent, and elsewere. The ly confiscated in Paris was made of water, and elder berries. Emperor Napoleon has purchased thesite of tomb of his uncle, the great Napoleon, for enbuoo the which uo may the 'poomSuoT pun ed conquerer's last days were passed, for Joj every 01 uoos percedxe s! commission V purpose of putting Longwood in complete ownuom eng V spunos the Performant pur total the JOAO erretted eq 01 OSIB sy Whatever may be the efforts of governme relation u! other the JO AUM euo Kansas affairs, as far as the slavery question concerned, it seemsto be quite certain that are all actively engaged in endeavoring to mal the new State Democratic. If Kansas is to the South," no pains will be spared to the 01 how Gazette. The American Home Missionary Society just appointed five missionaries for Kansas, addition to those already in the field; four them from the last.senior class at Andover, contuction siy Znome [abb] 01 Commany U euo Jo south miles 24 punors It is said that the Germans are fast occupyin this part of the territory, there being no less 8,000 or 10,000 already there. Foreign Immigration to the United States again very large. From the official report the New York Superintendent of Emigration, em 01 dn current one Supanp that of August, there have arrived at the port of York, 122,888 foreign immigrants, against a tal of 88,085 to the parallel date last year. is an increase of fifty per cent. The increase Baltimore has also been very large. A despatch from Washington city on the Jo Secretary private Perint O CI :sAus ernor Walker, who left the camp of the latter Lawrence ten days ago, reports all peace quiet there, nor was there the least intimatic of war or bloodshed. Governor Walker поум assod U SB Amery the Sujsn civil authorities could not make arrests breaches of the peace. The 1,500 troops Kansas will remain there until after the ber election. Bear accidents are in vogue now. We recorded several lately. On Thursday last half breed Indian at Troy, New York, who Jo state 8 in booth P/O uu Jepun bear B with duu B exer 01 n! pet. The bear, having temperance proelivitie resented the intrusion, scalped and otherwise jured the man so severely that he died. A hours afterwards another drunken man sough the same place for shelter and was similarl treated. He also died. BURIED AT THE CROSS Roads.-On Monda week a young girl named Earlwine, whose er resides on Fish Creek Mills, in Marsball Va., committed suicide by hanging. Cause,di appointment in love. She was found suspende to the limb of & tree lifeless. Miss Earlwine about eighteen years of age. The superstition Mone you pinom one u! peaple to be buried in the church yard, and her remain were appropriately interred at the Cross in accordance with a heathenish custom and obsolete law. THE EASTERN WAR.-Gen. Satiler, who ring the Eastern War was Surveyor General the Russian army, has just made some interes Opease our 01 Bug During the whole of the year 1855 there 300,000 Russian soldiers in the Crimea, 100,000 horses. Towards the end of the !!! exployer suchum 000'881 the necessary supplies to the army. The ber of draught oxen in the Crimea at the of the landing ofthe allies did not exceed 100,000 men were before the fortress of 1834 up The crashing among the New York banke and stock concerns, is heard all over the try. The liabilities of Thompson, banker, eH million U JIST JOAO 0.18 'pepuedsns suy for many years done a leading business in current money, and acted as agent of banks. He also published the Bank Note porter. His suspension was wholly unexpecte and will cause inconvenience to an extent cannot now be estimated. His assets are pus present 18 a you sejou yueq a! " other securities alike of small value in the ent excited state of the market. DISEASE AMONG THE CATTLE.-A disease said to be making fatal work among the about Utiea, New York. A correspondent

9. September 8, 1857 Kanawha Valley Star Charleston, WV
Article from Kanawha Valley Star, September 8, 1857

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the drafts for which they gave chec or Saturday last. and which checks were dis honored on Monday, causesgreat surprise and dissatisfaction. The parties who presented the drafts were, therefore, unable to protest them. They cSuld not gel sight of them to ascertain the indorse ments. This throws the loss on those who gave them up for uncertified checks The drafts of Monday morning were also detained by the Company until a more formal demand was made by counsel when they were surrendered on thereture of their checks, and were regularly pro tested. We have heard oftwodrafts being sen from the country about a week before the failure, with an informal indorsement, bu with the guarantee of a responsible banl to protect the payer. This guarantee i held to befsufficient-among the banks, bu Mr. Ludlow refused payment. The draft were returned to the remitter for correo tion, and were not again received unti the day after the failure. The amount was $9,000. The accounts of the Cincinnati offic are said to be in good order, and, withi themselves, unembarrassed, This i doubtful. The connection with this eit was too intimate and dependent to admi of any part of the concern being sound. The New York Times of THursday says The attaching creditors of the Ohi Trust are und erstood to have consented to the apointment of a General Receive for the New York office. Mr. Lane and Mr. Foster, Solicitors, are named for thi duty. Private dispatches to-day from the West reflect a quieter state of thing from the disaster than was mprehended A rrangements are already måde by tele graph for removing a number of the Ohi bank accounts to Messrs. Whislow, La nier & Co., and Messrs. Athood & Co The involvements of the Trust Agenc here are said to be about $1,500,000 o deposit accounts, and about 000,00 or $2,500,000 on local loans and over drafts. gainst these are advances to th principal office at Cincinnati, vances o Ohio State Stock, vances to some of th Railroad Campanies on their bonds, and suspended individual loans and debts various character. An inventory is nov being prepared for the Receiver. The New York Herald of Thursday re marks: The panie still continues rathe on the increase. The brokers toppl down like somany loose bricks. At th Board to-day the most intense excitemen prevailed and lower prices ruled through out. Stocksure coming out orevory hol and corner in Wall-street. Large lot held on hypothecation have been pnt of the market, and in many instances th amount advanced has not been realized. The failure of Little & Co., was in con sepuence of being obliged to take stock purchased on seller's option, and the not going oue on buyer's options In other words, most of their purchases seller' option were delivered, while parties buy ing ofthem on buyer's option either fail ed in their contracts or take the full tim entitled to. This leaves, Litule & Co with large lots of stocks in hand or com ing in and no relief from parties wh have purchased. As their good con tracts mature, the stocksin hand will g out, and it is very probable that a fey days will relieve them from the presen difficulty. The failure of E. A. Benedic was on Illinois Central stock. He has for some time past been a large buyer and was supposed not long since to have made a good deal of money, but sucl does not appear to have been the case The failure, we understand, is a very bad one. The failure of Mr. E. F. Pos was on the Ohio Life and Trust Com pany. He had loaded largely on the stock o that Company, and its suspension mad it impossible for him to fulfil his con tracts. There are several vacant seati at the Board of Brokers just now bu some of them will, without doubt, be fil led again by the old occupants. As 8 general thing the brokers do not keep down long. They make and lose money very fast and frequently fail and resume payment again within the same yeek.

10. October 8, 1857 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 8, 1857

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260,672 02 Surplus They propose receiving checks from depositors in payment of any indebtedness against them (the depositors); they will also receive their certificates of deposit, for sums not exceeding $500 each, in payment of any notes they may hold. From The Cincinnati Gazette, Oct. 6. The Committee appointed by the late meeting of the creditors of the Ohio Life and Trust Company, had a consultation yesterday morning and prepared & communication to the Trustees of the Trust Company, in which they stated the manner of their appointment and demanded, first a copy of the deed of assignment; secondly, a detailed statement of the nature of the asrets and their probable value; thirdly, the amount and value of the present liabilities of the Company, and fourthly, to inspect the books of records and accounts of the Company, and what was the nature and amount of assets and liabilities of said Company at Cincinnati on the day they suspended, and what disposition has been made of said assets. The Committee ask for an early response to their communication, which, when received, will be read before an adjourned meeting of the creditors. We learn that the Committee by invitation met the Trustees in person yester. day, and from what passed between them and the Trustees, are satisfied that a full and fair exhibit as requested will be made by the Board in a few days. The day and the week was commenced in Third street by the suspension of Messrs. Dunlevy, Drake & Co., bankers. A crowd was collected during the forenoon in the streets adjacent to the banking-house; but there was no excitement, from the fact that the city liabilities of the firm are very small. In financial circles the suspension was not unexpected, though regarded as unrecessary, and it did not tend to materially disturb public confidence. Since the failure of Atwood & Co., the operations of Dunlevy, Drake & Co. have been steadily curtailed-the members of the firm desiring to suspend and settle with creditors, rather than run the risk of transacting business at present. The total liabilities are not more than $100,000, and these, with the exception of about $10,000, are out of the city. The firm owns a sufficient amount of first-elass mortgage paper, aside from other assets, to pay in full its liabilities. For discounted paper, checks on the firm will be received. The result of Saturday's business had 8 favorable effect generally o-day, and, although the surface did not afford evidence of any material improvement, the movements of the day indicated a better feeling at the bottom. If we were not liable to be affected by further reverses at the East, we might hope that the crisis has culmioated; but everything for the present depends on the seaboard markets. With favorable advices from the latter, the West would make decided progress in the right direction during the current week. New-York Exchange declined 1 ₱ cent to-day, closing at 4 v cent premium for bankers' checks, and 3@31 for private signatures. This is not attributable, we believe, to a falling off in demand or an increase of supply, for the latter is still inadequate to the former; but the force of public opinion, which is bearing heavily in certain quarters, is to be credited for this change. The current rate for Philadelphia and Baltimore drafts remains at 2 P cent premium.

11. October 15, 1857 The New York Herald New York, NY
Article from The New York Herald, October 15, 1857

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NEWSPAPER ACCOUNTS. MEETING OF THE CREDITORS OF THE OHIO LIFE AND TRUST COMPANY. [From the Cincinnati Gazette, Oct. 18.] An adjourned meeting of the creditors of the Ohio Life and Trust Company was held in the bank building, corner of Third and Main streets, yeste day afternoon, and was attended by perhaps n hundred persons. The meeting was organized by N Bartlett, Eeq., the presiding officer of former meetings, taking the chair, and T. A. Nesmith noting M secretary. The committee appointed at A former meeting to wait upon the trustees of the company and get from them a statement of the financial condition of the institution at the time of the assignment. and a copy of the deed of trust, made a report, in which they say they were present at a meeting of the trustees of the Trust Company, and there presented a communication to the Board requesting, first, a copy of the deed of assignment; second, a detailed state ment of the nature of the assets, and their probable value; third, the amount and nature of the present liabilities of the company; fourth, an inspection of the books of records and accounts of the company; and to ascertain what was the nature and amount of the assets and liabilities at Oin cinnati on the day is suspended, and also what disposition had been made of the assets. To this commusication of the committee the trustees of the company returned the following answer:OHIO LIFE INSURANCE AND TRUST Do CINCINNATI, Oct 19, 1857. w K. BOND, Esq., and others, comminee &c.:Gentlemen-Sinoe the receipt of your communication on the Bth instant, the Trustees have been making renewed efforts to prepare more statement of the affairs 01 this institution, hich might be in some measure satisfactory to yourselves as wel as public To do this has been the earnest desire of the Board from the Ime of the suspension, and your application renders us still more anrious to accomplish it But we are compelled to say that It in ont of our power to furnish a state ment on which any relivnce can he pisced. The difficulty arises out of the condition of the office in New York. and the inevitable entanglement to some extent, of the affairs here with the affairs or that office It is ascertained. by investigation sine the failure, that the books of account of the New York office, during a recent period, are totally unreliable for any purpose whatever, either to show its debts or credits. or the assets, or the condition of them. some of those assets are pledged, but ichere, and for what amount, is not net ascertained Some are attached, but for what amount of real debt is not ascertained Mr. Ste ted the President. has been laboriously engaged in New York investigating the business there, but his progress is necessarily slo* In this state of affairs It is entirely impossible, at this time, to furnish ary statement which would be of prac loal use, or of any astisfaction 10 the public; but the Board are anxis " do it at the earliest possible day. Rv order of the Board of 8 P. SISHOP, Assista 1 Unshier. Trustees. A copy of the deed of assignment was also presented by the committee, signed by John C. Wright, Samuel Fos. dior, 8. J. Broadwell, George Orawford and Clement DalBrich. It was stated by Mr. NERMITH that the cashier declined making any de ailed statement of the cond) lon of the in sdtution, alleging as a remson that It was Impossible to do BO until the condition of the New York office had been fal by investigated; but Mr. N. had been informed by competent bookkeepers that the information required by the committee in regard to the assets and liabilities of the Discinsali offi e could have been given in 24 hours. The committee concluded their report with a esolution recommending the creditors to take such legal steps as will seoure their rights in the premises Mr. WM R MORRIS though: the resolation would not salisty the creditors What was wanted was some 8 recide notion. He hai been informed that the manige ment had been made as a matter of necessity that suite had been commenced by some of the c editors, and in or der to put all upon an equal footing the assignment had been made. But while the Oincinnali branch of the con Bern had managed as shrewdly as the best broker and shaver, the most wholesale frauds and mismanagement had been perpetrated in the New York office He and underst and that the company had, since the assignment, paid off, by doubtFul claims, &o, about $4,000,000 of claims The speaker thought 18 was doubtful policy to precipitate matters 10 re gard to the assignment. de was in favor of pro ceeding moolly, and give the trustees an opportunity of showing that they had acted houestly and in good faith in the as signment, and to delay any positive action on the part of the creditors until some report had been had from the New York office. In his opinion. the directors of the Trust Company were personally responsible for their trust, and a few days' delay would make no difference to the creditors. He therefore advised a modification of the resolution, to the effect that the committee be g-anded further time 5 Investigate, and report at . subsequent meeting of the oreditors, and that the committee be instruo-ed to report to Tall all mathers connected with the assignment. On motion of Mr. R B. HANDY, the resolution was amended so as to require the committee to report at a meeting of the creditors. to be held on Saturday next At 8 o'clook, and as amended the resolation was passed nonimously-M Wm. R. Morris aud Mr. E A. Thompson being added to the committee. up. E. A THOMPSON thought the Trust Company WAS Willing with their Cincinnati creditors. They bad maus moothing reports to their friends, and mi the same time bad

12. October 23, 1857 The Daily Dispatch Richmond, VA
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OHIO LYPE AND TRUST COMPANY.-AnCadjourned / committee of the creditors of this concern, which has the "honor" of starting the financial panic, was held at Cincinnati on Saturday, when a committee appointed to procure information in regard to the condition of its affairs stated that they had been unable to accomplish anything in consequence of the fact that the officers of the Trust Company declined to give any information on the subject. One of the committee, however, stated it as his opinion that if the creditors would be putient, and not embarrass the action of the trustees. in all probability they would get their money. He had understood that Judge Este, the largest creditor of the company, had come to this conclusion: and he therefore advised patience and moderation on the part of the creditors. The meeting finally resolved to appoint a committee to wait on the trustees of the company to ascertain the state of affairs.

13. November 9, 1857 The New York Herald New York, NY
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OHIO. [From the Cincinnati Gazette, Nov. 6.] THE TRUST COMPANY PAY over A LARGE SUM OF MONEY TO CREDITORS. Immediately after the suspension of the Ohio Life and Trust Company, some ten or twelve different suits were commenced by creditors of the company, and money iu the possession of various banks Kentucky was attached. None of the suits have come to trial, but we understand that a compromise has been effected between the present managers of the Trust Company affairs and the attorneys for the attaching parties, Messrs. Cambron & Fiske, of Covington, and that the money claimed by the creditors, amounting to about $30,000, was paid over on Wednesday by the Northern Bank of Kentucky. The demand of each creditor was adjusted in full, less the expenses of lawyers' services. The suits were originally commenced the same evening on which the announcement of the suspension was made, by Thompson & Nesmith, of this city, and transferred to the Covington lawyers for further prosecution. The result must be entirely satisfactory to those who to-day jingle in their pockets money obtained from the Ohio Life and Trust Company. If all the creditors of the Trust Company are equally fortunate in securing the full amount of their claims, they will have good reason to congratulate themselves.

14. September 15, 1858 The Daily Exchange Baltimore, MD
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VOL. II--NO. 176. BOARD OF TRADE. Committee of Arbitration for the month of September. HUGH JENKINS, BASIL ELDER. J. HANSON THOMAS, FREDERICK FICKEY. LATIMER HOFFMAN, Attonetary and Commercial Rebicto. BALTIMORE, September 14, 1858. The extreme dullness which the Stock market has exhilited for several days past is by no means relieved, and o-day the transactions were smaller than for several months, amounting to only about $13,000. There was othing done in Baltimore and Ohio Railroad at the Board he closing bid being $57.4, with $57 % asked regular way, ut afterwards sales of 50 shares were made at $57% buyer o days, and $57 1/2 cash, a decline of about 50 cents per hare since yesterday. Northern Central again fell off 1/8 Dr. 350 shares selling at $21 1/2 6@22% regular way, $21 1/2 uyer 60 days, and $21 1/2 buyer 10 days flat. It closed at 21 % bid. $21 1/2 asked cash. The only sale of Bank stock as 5 shares Western at $21. Springfield Mining Compay is steady, with sales of 700 shares at $2% cash, and we ote a sale of 25 shares Santa Clara Mining at $21 buyer ) days, showing no change since last operations. There las nothing whatever done in Loans or Bonds. For Bal more City 6's. 1890, 98 was bid. 98 1/2 asked, and for the later Loan of 1875 93% was asked. Baltimore and Ohio ailroad bonds are firm and scarce, with 83 1/2 bid for 1880's id 85% for 1885's. Northern Central 1885's are held at (,with 67 3/4 offered. For North-Western Virginia 1st ortgage 91 4 was bid, 91 1/2 asked; do. 2d mortgage 66 1/2 11. but held at 70: do 3d mortgage 30 bid, 34 asked; and edorsed 3d mortgage were held at 70. The course of the New York market is still downward, ad to-day a further material decline took place in fanciesHe receded 14; New York Central 1/8; Reading 14: Cleve lad and Toledo 3/6; Rock Island 7/8: Michigan Southern 1 and Hudson 1/2. State stocks were also little weaker. The foreign bill market at New York is moderately ac. tre and very firm The supply of commercial and bank His is quite limited and rates for them nearly as high as A bankers' signatures. The demand is moderate from the home remitters, but there are some orders for Havana ac. count Sterling is 109 1/2 @110, the principal transactions being at 109%@10936 per cent. Francs are 5.13 (@ .11 ¥ the following is a comparative statement of the condi tion of the Banks of the City of New-York, on the 4th and 11th of September: Sept. Sept.1 Loans $125,335,840 $125,013 211 De$372,620 Specie 28.048.662 28,039,495 In 10,331 Circulation 7.748.249 7,830,669 In.. 32,420 Deposits 103,347,811 102,897,554 Dec.450,257 Indrawn deposits 87,933,598 86,908,179 De1,025,419 The New York Tribune says: The weekly Bank Statement is favorable, in so far as is hows a decreased line of liabilities, with no change in the specie reserve. The loans are down nearly $900,000, partly the result of the very considerable amount of recivables maturing on the 4th inst., and partly the re selt of the paying up of loans upon Government stock which has been withdrawn from banks and places with investers. The specie line varies but little from the statement of last week. but the banks now hold $1,500,000 more, as the California receipts do not appear in the state nent. The interior movement of specie during the week las not been large, although Boston is still largely in debt o this city. The exchanges at the New York Bank Clearing House in Monday were $18,071,303; the balances $45,043 25. The weekly statement of the Philadelphia Banks, made up to Monday, presents the following aggregates, as com pared with those of the previous week, less the Kensington Yank, which, from some cause was not included in the list this weekSept. 6. Sept. 13. loans $24,311,991 $21,211,610 Dec $100,381 Specie 6,428,306 6,444,768 Inc. 16,462 Due fm other banks 2.532.398 2,171,014 Dec. 411,384 Due to other banks 3,360,343 3,400,516 Inc. 40.173 Deposits 16,882.205 16,543,154 Dec. 339,051 2.407.201 Circulation 2,453,665 Inc. 46,454 The assignees of the Ohio Life and Trust Company have published a statement of the concerns of that bankrupt af fair. From the following condensed statement it appears pretty evident that stockholders have nothing left, and depositors will not realize a respectable per centage: CONDENSED STATEMENT. $748,753.61 Liabilities at Cincinnati 1,6,8,995.33 Liabilities at New York, admitted 309 332.19 Disputed $2,687,081.13 Offsets at Cincinnati $141,983.99 79.211.53 Ofsets at New York 137,897.38 Attachments at Cincinnati 591,281.50 Attachments at New York 9,50,374.40 Uncovered $1,736,706.73 $701,412.63 Assets at Cincinnati 778,050.40 Assets at New York $1,479,463.03 950,374.40 Deduct as above $529,088.62 Remains to meet uncovered claims 1 The London Times records sales of Illinois Central Bonds at 81; ditto shares at 25 1/2 discount; Michigan Central Bonds at 86 1/2; New York Central 6s. at 821/2, and Pennsylvania Central Sterling Bonds at 92. SALES AT THE BALTIMORE STOCK BOARD. TUESDAY, September 14, 1858. 5 shs. Western Bk 21 50shs.N.C.RR. b60 21 1/2 2% 50 21 % 700shs.Sp.M.co.

15. October 19, 1858 Nashville Union and American Nashville, TN
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# Arrival of the Overland Mail. ST. LOUIS, Oct. 18. - The second overland mail has arrived with letters of the 20th, but no papers. The third mail reached here to-night-25 days out. The United States Circuit Court granted an injunction against the assignees of the Ohio Life and Trust Company on the suit of English creditors, for $700,000 The Sheriff of Hamilton county has been appointed receiver.

16. October 20, 1858 The Daily Exchange Baltimore, MD
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THE OHIO LIFE AND TRUST COMPANY-An Injunction Granted.-In the United States Circuit Court at Cincinnati, October 18, Judge McLean presiding, on an application filed by Henry Stanberry's attorneys, Bell & Grant of London, and Thompson & Nesmith for other creditors of the Ohio Life and Trust Company, (representingclaims to the amount of $700,000,) an injunction was granted against the assignees of said company restraining them from disposing of the property under their control. An application for the appointment of a Receiver before the Supreme Court, has been granted, and the Sheriff of Hamilton county has been appointed Receiver.

17. October 21, 1858 Alexandria Gazette Alexandria, VA
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In the United States Circuit Court at Cincinnati, Judge McLean presiding, on an application filed by Henry Stanbury and N. C. McLean, attorneys of Messrs. Bell and Grant, of London, and Thompson and Nessmith for other creditors of the Ohio Life and Trust Company, representing claims to the amount of $700,000. an injunction has been granted against the assignees, restraining them from disposing of the property of the company under their control. An application for the appointment of a receiver, before the Supreme Court, bas been granted, and the sheriff of Hamilton county has been appointed receiver.

18. October 22, 1858 The Daily Gate City Keokuk, IA
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Ohio Life and Trust Company. They are having lively times in the Oincinnati Courts these days over the settlement of the affairs of the defunct Trust Company. There are two parties of creditors with opposing interests, and as a matter of course with antagonistic policy and counsels. One party applied to the United States District Court for the appointment of a Receiver, and the other party getting wind of it applied to the State Court. The United States Court issued an injunction against further proceedings in the State Court, but before service could be made a Receiver had been appointed by the State Court, in the person of the Sheriff, who had already taken possession of the papers and effects, safes, keys, &c. This latter party has, therefore, the advantage of priority in the action of the Court and of possession, which, in ordinary cases, would give them an overwhelming advantage.

19. November 9, 1858 The New York Herald New York, NY
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There was a hearing before the United States Circuit Court at Cincinnati, on Friday, on the charges of Contempt arising out of the refusal of the Sheriff of Hamilton county to surrender the assets of the Ohio Life and Trust Company into the hands of the receiver appointed by the Circuit Court. J. C. Wright, Chas. Stetson, Samuel Fosdick, George Crawford, Clement Deitrich and Abraham M. Taylor answered satisfactorily interrogatories propounded, and the charges against them were dismissed. The hearing was to proceed on Saturday against the other parties, including the Sheriff. An extraordinary amount of legal talent is engaged in these trials. Among those who took part on Friday were five ex-Judges, viz.: Wright, Hoadley, Caldwell, Coffin and Mathers; also Messrs. Stansberry, McLean, Todd, Lincoln, Worthington and Thompson

20. December 11, 1858 The Daily Exchange Baltimore, MD
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LATEST NEW S. TEL EGR A MS RECEIVED AT THE OFFICE OF "THE DAILY EXCHANGE." [Special Despatches.] The Ohio Life and Trust Company-DIficulty between the Courts regarding it-The Overland Mail-Cincinnati Market. CINCINNATI, Dec. 10, P. M.-Quite a collision has taken place between the United States Court and the Superior Court in this city, growing out of the case of the Ohio Life and Trust Company. The suit as it now appears is about approaching a crisis. The receiver of the former has demanded the assets in the hands of the sheriff, who is receiver under the Superior court. The sheriff to-day asked for instructions, which, I learn are to be given to-morrow. Both courts it appears, are firm in their determinations. The probability is or at least it is now SO understood that the sheriff will be committed for contempt by the United States Court, aud that he will subsequently be released on a writ of habeas corpus and then prosecute Judge McLean and Judge Leavitt for damages. The assets of the company are under the control of the Superior court but the expenses of litigation, &c. are rapidly making why with them, leaving but little hope that creditors will even get much induced nothing of amount. f CINCINNATI, Dec. 10.- Hogs are dull. Those O. light weight now sell at $5.50 to $7 per 100 lbsMess Pork heavy at $17@17.50. Beef quiet. But ter and lard unchanged. CINCINNATI, Dec. - -The mail from St. Louis has arrived. It contains nothing of special interest. There is no overland mail from California expected to reach St. Louis before Tuesday next. Weather here is cold and freezing.

21. December 15, 1858 The Daily Exchange Baltimore, MD
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OHIO LIFE AND TRUST Co.-It has already been stated that a conflict of jurisdiction has arisen between the Superior Court, Cincinnati, and the United States Circuit Court, in relation to the disposition of the assets of the Ohio Life and Trust Company. The Sheriff has possession of the assets under process from the Superior Court; the United States Circuit Court has directed that they should be turned over to its Receiver. The Cincinnati Gazette of Monday, says : We have already stated that the Receiver appointed by the United States Court had served upon the Sheriff the order made in the Trust Company case, and demanded the surrender of the assets. The Sheriff asked time to receive further instructions from the Superior Court, under which he was appointed Receiver. The matter was brought before the latter Court on Saturday, and Judge Ghelson instructed the Sheriff to retain possession of the assets. and if he found it necessary to protect himself in the possession, he might call in the force of the county for such purpose.

22. January 7, 1859 Ellsworth American Ellsworth, ME
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CONFLICT OF JURISDICTION.-The United States Circuit, sitting at Cincinnati, is likely to come into direct conffict with the Supreme Court of that city. Both courts, about the same time, appointed Receivers to take possession of the assets of the defunct Ohio Life and Trust Company. The Receiver appointed by the Supreme Court (who is the Sheriff of Hamilton County) got possession first.The United States Court directed him to hand over the assets to the Receiver of its own appointment, but the Sheriff refused to hand them over. The Supreme Court has not only directed him to hold on to them, but has declared the Receiver of the U. S. Court to be in "contempt" and threatens to issue an attachment foa his imprisonment. If the U. S. Marshal takes the Sheriff into custody for "contempt" in refusing to obey the edict of the U.S. Coart, or should the Sheriff take the U. S. Receive into custoday for contempt" of the Supreme Court, there will be direct confisct between the two. which may lead two collision between the forces which each Court may muster to its defence. In the meantime the poor creditors of the com pany are anxiously looking on, careless as to which whips, so that they are enabled to get at the assets.

23. January 7, 1876 The Wheeling Daily Intelligencer Wheeling, WV
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Duration of Commercial Depressions. The panic of 1819, caused by the infla. tion of the currency during and succeedthe of 1812, began properly, of ing about the war first April, 1819, about when the Bank of e-United States set put> ting its affairs in order, and uncovered the rottenness of the New York, Phila. delphia, and Boston banks. "By August of that year the business of the country was prostrated. In the small,city of Philadelphia 20,000 persons thronged the streetsseeking employment: Thirty trades of that city, which usually employed 9,672 persons, reduced their force to 2,000. The same ratio prevailed in New York, Baltimore and Boston. The depression lasted through 1819 and 1820. In a seemevident. June, 1821, By October revival of there business ed was an unmistakable movement in that direction, which continued to develop until December, 1822, when a reaction took place in manufactures, which reduced prices sharply, amounting in cotton goods to as much as fifty cent. f Business recovered from this and went on improving rapidly. The prosperity was very marked in 1824, and the year opened very auspiciously. England, f which had also been suffering from trade had everywas on depression, thing going recovered, swimmingly. took and a reaction place in which to this and went England, In country, July, 1825, communicated firms down itself like card houses. The panic culminated in December, and the depression lasted through the year 1826. In 1827 revival came and the country was again prosperous, and businessrina temporacreased stringencies, rapidly with until but the greatest few crisis this has ever was itated it in the year ry country upon beginning known of the precip1837. The brunt of the crash occurred in New York in March, and in April the whole succumbed. The depression the next continued year country opened throughout favorably, 1837, trade but revived and resumed rapidly, specie payments the banks in about August. generally crash The next year, 1889, brought a in our defective banking system which wiped out of existence 343 of the 850 banks then in existence. This crippled the industrial interests of the country somewhat, but the next two years were comparatively prosperous. A revolution took place in 1843, which lasted the whole year. In 1844 the recovery was nearly comof 1845 was 80 went each more prosplete; on, year still apparently better; and until it perous than the preceding one, 1851, when there was a panic, the effects of which, however, disappeared the following year, and 1855 and 1856 were very prosperous seasons. The bad outlook for crops, and a decline in stocks earlyun 1857, caused uneasiness and apprehensions of trouble, which finally. came on the 24th of August, when the Ohio Life and Trust Company, of Cincinnati, failed, with seven millions of liabilities. The infection spread; on the 12th and 13th of September the banks of Philadelphia, Washington, Baltimore and many other cities suspended. On the 13th of October the New York banks, with one exception, suspended, and a few days later the Boston banks did the same. This marked the climax of the trouble. December 12, the New York banks resumed payment, and other banks after another. of was followed business specie one wonderfully The rapid. and revival By it was well continued to was spring develop until established, 1860, which the most prosperous of our ante war era. The data for the above statements are mostly obtained from Professor Summer's "History of American Currency.' Arecapitulation of the foregoing shows the commercial depressions following the various crisis which have visited our country have been in duration as follows That of 1819, two years, That of 1825, a year and a half. That of 1837, a year and a half. That of 1843, one year, That of 1853, six months That of 1857, six months The tolerable uniformity of the periods which each a a lasted-about through year general and half-shows depression which that there is something of a rule these from pear governs that revulsions eighteen months It would to two apyears are required for people to look,

24. August 24, 1907 Evening Journal Wilmington, DE
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Almost as soon as the excitement of the election had subsided and the fear and apprehension preceding it had passed, another dark cloud, which had been gathering for some time, began to overspread the horizon: and it seemed that "our woes did tread upon each others heels, so fast they followed." Not political this time, but financial. The business world was suddenly startled by the announcement of the failure of the Ohio Life and Trust Company, a large and important banking institution of Cincinnati and the panic of 1857 burst like hurricane on the country. It had been anticipated and feared by business men for some months, but, as usual, when it was precipitated by this gigantic failure, it found many quite unprepared for it. Men seldom are prepared for such calamities; we look upon them as we look upon death; it is surely coming, but not to us! "All men think all men mortal but themselves." But, still, calamity and disaster, and sorrow and trouble do come, and they come to us all sooner or later. And so this money panie and erisis of '57 came and brought with it a fearful financial storm; and when it passedand they all, and always do pass after they have spent their fury-it left the business shore strewn with the wrecks of banks, merchants, manufacturers and men of

25. September 4, 1924 Baraboo Weekly News Baraboo, WI
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and Johanna, Sarah Clark Thomas, died in 1902 and her husband, Charles H. Williams, in 1908, both of Baraboo, but they rest in Milwaukee. Mr. Williams had reached the remarkable age of ninety, less two months only. In his later years he penned numerous ethical pamphlets, especially in behalf of juster treatment for the colored race. In his younger-days at Cincinnati he and his worthy father had a sympathetic interest in the famous underground railroad over whose invisible lines escaping slaves warily fled across Ohio to freedom in Canada. He was the finest possible type of the quiet cultured, old-time gentleman. For several years he was a regent of the University of Wisconsin by appointment of Governor J. M. Rusk, another notable Ohioan, born on the Muskingum near McConnellsville. Williams In The War Mr. Williams was universally known as "Major" and, indeed, he acquired that honorable title by active service in the Civil war, having recruited a company roundabout his Wisconsin farm immediately after President Lincoln had called for "300,000 more." Three sons of Major Williams survive. The youngest, Samuel M., is an alumnus of the University of Wisconsin and for nearly half a century has been a well known Milwaukee attorney. An older brother, Micajah Terrell, is in business at Milwaukee, and still another, Charles H., retired, resides at Baraboo. A Sterling Sire It is safe to state that few Ohio families, either on the Thomas or the Williams side, are of finer ancestry, quality or worth. The Williams were of Welsh-Quaker parentage, the father of Charles Henry being Micajah Terrell Williams, president of the Ohio Life Insurance and Trust Company of Cincinnati. The latter was born in North Carolina in 1792, near where, on the farm of his grandfather, was fought the revolutionary battle of Guilford Court House. His grandmother was Sarah Lynch and from this historic patronymic comes Lynchburg, Virginia, also "lynch law". This Micajah Terrell Williams early became a Cincinnati editor, and in 1818 married Hannah Jones, a Baltimore girl, then visiting relations in Zaneville. She was a Quaker. In 1820 Mr. Williams, chosen assemblyman from Hamilton county, was re-elected in 1822-3, and in 1824 was elevated to the speakership. He had a most influential role in promoting legislation for the canalization of Ohio, and was one of two supervisors under whom were constructed the canal from Cleve. land to the Ohio river at Portsmouth and also that from Cincinnati to Dayton. In 1830 he came within a single vote of being chosen United States senator, Thomas Ewing, whig, nosing in. When, during the Jackson administration, the United States bank was abolished, Mr. Williams carried through the legislature, the act under which the Ohio Life and Trust Company, of which he became president. was organized. It developed into a powerful institution but suffered embarassment in the great panic of 1857. This, however, was ten years after he had retired from the presidency. In 1831 Williams was appointed by President Jackson surveyor general of the Northwest Territory and served till 1835, when he