The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-11-13


CINCINNATI, Nov. 8, 1854.
These statements were printed in considerable
numbers and distributed around the city.
The banking house Of Messrs Ellis & Sturges was
NOS opened during the day, although Ia &c number
-ofpersors remained near it until long after bank
-houD On the building the following statement was
posted
" This bank cannot be opened to day. Mr.. Ellis
Dc very low with congestion OF the brain.
Assets considered good 81 100000
Immediate ste "a will be taken to arrange and set
Ge up the sflair5 OF the house.
ELLIS & SrURaEs
Per W. 8. WOODWARD, Attorney.
1t is reported, and we presume correctly, thatthe
parties have made an assignment OF their ELECTS,
and the bank will go into liquidation. The follow
no,n' xhioh We are requested to COPY ' "''''
ITO THE DEPosTrORs OF ELLIS & SYURGEs.-I
deem 1t my duty to make the folio wing state ment
the public NY father WAS taken TAX @ II
considered his case hopeless one, took the course
chat would promote the interests Of his depositors
In the shortest possible time. We have closed the
doors Of the banking house, and shall on the arrival
of Mr.. 6turges from New York, make a full and
complete staMment Of the affairs CT the house.
beg the public tn be indulgent for few days, and
assure them that nothing shall be kept from them.
Respectfully, ROWLAND ELLIS, JR."
TO show how strange and improbable stories will,
on occasion OF panic or excitement find their way
tvo O'clock we were told by several gentlemen that
. despatch he'd been received from New York, an
aouncing the death Of Mr. Sturges We made an
Attempt TO ira the rumor, and were soon satisfied
q parTtAeS want Of truth. We glad to state that
Aspsufges il alivs and well and viii probably be
In the city in few days.
Nearly opposite to the banking houses of Ellis h
6turges is the banking house OF T. S. Goodman &
Co, On which run was commenced at nine o'clock.
The uvirg stream poured in until twelve o'clock,
when the doors were closed and payment was Gus
building, in the following words:-"An notes paya-
be here this day will be found at Groesbeck
Cn's' subsequently the following statement WINS
T. S. GoopxAS 4 Co.'s BANKING House,
CINCINNATI, ONO, Nov. 8, 1854.
The undersigned find It ne sessary, in consequence
o. the excited state of the public in regard to
Gna1 ~ matters to suspend for the present; They
eency, and that no person shall lose either principal
pr interest by thea. T. 8. GOODMAN Co.
The banking house Of John B. Morton 4 Co., on
raird street. also suspended payment, making. in
Dne day.
These. We believe, are the material facts con-
CiucinnsH. or c,~.s.a there was much said by
different partics-some in condemYar:.,:, Others in
just fcati0p, unoer the circumstances Among
many Of the best nforme erons belief VS. enter
eAined thai the failures would be benef sal h. the
Community, and would lead TO better state of the
money market.
We preaume that the immediate failure OF these
banks Will be to embarrass may of the depositors
81
90. tner available means p aced in position where
eney cannot reach them. We know of several gen.
etemea Who had from five to ten thousand dollars
on oePosit, which they want to use Immediately 70
@eet the pay ments Of notes falling DUE and which
VII nave 70 60 TO protest. because of the inability
q Ee Parties 70 provide, on the movement, for q
t5htsngtocy which came upon them 80 unexpect-
<dly; Oti~ than this we do not apprehend any par.
0ouiAr evil witch will result from the suspension
y generally hoped that the banks will be able
20 meet tfir liabilities though the depositors will
eave TO eNroise patience and wait some little time
before they get ther hands upon their cash.
The city reporter Of the same paper says:-
Messrr. Hatch & Langdon, OF the Central Bank,
ye-e- Epn urSn, but they paid all the demands
prorfpty and their creditors bavir become salts
Aed n the ability Of the bank to discharge all Its
liabilities che excitement subsidized before O'Clock.
With reference to the currency, there is more
settled feeling. The notes of the Clinton Bank Of
.'-,arrS.sua A1 redeemed, and oil Ohio banks, with
shs erception Of the Bank OF Circlevile, were re.
sssvad ~ IRE Trust Company; az was also the pa
~ ~ q, The Kentu Ky banks, and OF the branches
r. ta 9tase Rank OF Indiana; and we will state FUR
49, ,bat every one Of the banks Is considered
ucod Various rumors were afioa. to-csy WIN fee
Ssce 10 bank failures, al Of which, Nitho". excep.
dion, were utterly ~ SSvnulese-
We stated In our re ,ort Of last evening that the
So1es of the Miami Valley Bank OF Dayton we're not
wrreived. We learned today. however, that they
sr tsken by tbe thrust Comrany. The old es.ab
q ID backs nj the West are In rood condition.
tA~E ca QL.AsH Is CON- Natiysly snAl-seven %