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Bank Panic at the East. The great financial world of Gotham and all the little territory round and about from Maine to the Rocky Mountains has sudden ly been threwn into a terrible flutt r by the failure of some heavy Eastern Banks and Bankers. Among the prominent ones that have gone up within the week are, enumerated: 1. John Thompson, the well known Wall Street broker and publisher of the Bank Note Peporter. His liabilities are said to be about $250,000, and his assets of doubtful value, as they consist largely of bank notes and other securities of doubtful value in the present feverish state of the money market. Thompson has been in the habit of lending bonds to western stock security banks, taking their bills as security for his stocks; but as these banks have little credit at the East, and many of the stocks by which their notes are secured are rapidly depreciating, Thompson can make no use of their bills. 2. The Ohio Life Insurance and Trust Co., of Cincinnati. This was one of the heaviest banking concerns in the country, having a house both in New York and Cincinnati, and was regarded as one of the safest and most solid of banking institutions. Its liabil ties are stated variously at from five to $7,000,000. Its deposits in Cincinnati were usually counted by millions. It controlled the exchange market of Cincinnati, while the New York house kept the New York accounts of most of the branches of the State Bank of Ohio, and also of a large number of private institutions in that State and Indiana. A despatch from Cincinnati, however, states that up to Thursday none of the state banks had yet been discredited, and the bankers had agreed not to sort or return notes of country banks for thirty days. A large number of New England and Western banks, doubtless, will be affected by the failure, but the Chicago Tress assures its readers that no institution in that city, and none, it presumes, in the State of Illinois, will be directly injured by the failure. These two heavy failures of course shook confidence in everything else, and a regular panie naturally followed. Everybody began to look over his bank accounts and the money in his pocket, and started off to "realize." Rumors began to fly about in reference to at least 50 New England banks that were said to be toppling, and western banks were in such bad repute, that western men 1 1 in New York with pockets full of bills, found themselves without available funds enough to get home on. In the end, however, it turns out that comparatively few other failures have really taken place. The notes of the following banks were refused at New York on the 26th: Arcade Bank, Providence; Bank of Middletown Pa.; Farmers' and Drovers' Bank of Waynesburg, Pa.; Honesdale Bank, Pa.; North American Bank, Seymour, Conn.; Ontario Bank, N. Y.; Fort Plain Bank N. Y.; The Kanawa Bank of Virginia; Farmers Bank of Wyckford, R.I., Tiverton Bank, R. I.; Rhode Island Central Bank Farmers' Bank of Saratoga Co., N Y.; Wooster Bank, Conn.; Warren Co. Bank, Penn.; and the Hancock Bank of Maine. There are few bills of any of these banks in circulation in this region except of the Rhode Island Central Bank, in reference to which all that is said by the despatches is, that it has made no provision to redeem its bills at the Suffolk Bank, which most other Rhode Island banks have done. The bills of this bank in circulation in this region were mostly put out by the Gov. Matteson's banks, and will all doubtless be redeemed on presentation. Among the minor failures, Jacob Little, as stock broker in New York again figures. E.S. Monroe, N. Y. banker; Chambers & Haiser, N. Y., largely engaged in the California and India trade; Mesars. Benedict & Co. and Fisher & Co., stock brokers, N. Y.; James L. Lyle, private banker, Detroit, and few others. Thus far the panic appears not to have M 03 reached the West. In Chicago, Milwaukie St. Louis, &c., the bankers keep cool, and feel strong enough to weather any ordinary in tempest. The best thing, doubtless, for everybody is, not to get excited; to hold on a little; make no rash sacrifices on account of new rumors. The West is richer and financially stranger this day than she ever was before, and need fear no trouble if she exercise the least prudence.
