The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-08-29

he BANKRUPTCY OF the whole West becomes Inevitable
ming % he Wss and from IL vsssns shsE means
fertile lands the capital retained In the Eas-
States II IVES invested In railroad stocks and other
holders of be willing 10 pay heavy bonus for the chance
Of investing In Western andsP And what must DO the
ss OF SSss % s :. sss s
standing strong In youthful vigor and resting upon
broad foundation Of energy and productive industry while
The Eae little while ago 90 elsted ard pulled up with Us
Importance, and pauonisngy misseratng the
doomed West, 70 lettering beneath the fail foroe or The
financial storm We are sorry for our friends there but
rust the lesson will not wholly be lost upon Thorn. Mean
Viii We congratulate our friends at home upon the mes
ure OF prosperity and security which they enjoy and upon
DOWNFALL look their only refuge and proseo-
lion against suffering that calamity themselves
FAILURE OF JOHN rH0 SpsoN.
Private dispatches received In this city yesterday an
nounce the failure Of Mr. John Thompson, Of New York
city the well know Wall broker The extent Of the
d lis nc. Unlikely sowsysr' .S.s he b.. been car
riet down by the Ohio Life Insurance and trust Com ANY
This failure csnns We think, Material, Areo, Western
interests. Mr. T Adams Of this city, 10 son IN Law or
Mr. Thompson, but not connected With him n Business,
AND viii not therefore be sufferer by his fi re Mr.
and enjoys a. large share Of the oonndspo, q the bus
nee- puolic ~ any private banker among This fact
was verified yesterday BY the refusal Of his heavi
eat depoeors 70 withdraw the funds, and by the offer a
sssstance from others Happily for Mr. Adams, he Is I'M
DER no necessity Of svaing himself Of these kind one
We take great pleasure stating this fact and In assuring
pubnC upon unqu setonAble au hory that Nr Adams
Is soundantly prepared foi the emergency.
FAILURE OF THE OHIO LIE INSURANCE AND TRUsf
ConeANY.
This institution failed on Monday last WAS one OF the
heaviest operations 10 the country, having house both
in Cincinnati aud Nes York city The failure extends 70
Cincinnati house usually counted by millions. Il coz
roed The exchange market Of OncnnoN, shie the New
York house kept accounts Of the branches Of
tue sste Bank OF Ohio md Also Of large number Of pr
vate institutions In that Slate and Indiana will take
some days TO develope the extent TO which this failure
okh dludtu
lees fall with the heaviest foroe upon the business int
rss Of Cincinnati, though We learn that . number Of
less affected. We pleased TO learn that institution
Of this city, and, we presu ne, mono In the State Of ILL.,
nos, will be directly injured by tho failure
BULLING THE MICHIGAN sOUTHIRN RAILR0AD.
From the Chicago Democrat, August Is
gentleman who has been well kno9n q great IA
the cut 81 policy In this State, who held oci.
position NOT long since In city, and DO prdes himself
on bis business tact and financial skull returned from
visit 70 New York city few days sinoe He looked quite
Of bis old quarters the fremont House An acq ntsuoe
accosted him with "Wen, Tee, what have you been
doing in Ne. YORK; Any new point, s since you lsf.r
fails TO make when TO speak would ostray bis ignorance
rhe friend rallied again He saw Tee was bursting with
10 get out fsw questions odaously pu-Tss all
the while tapping bis panU with his ivory topped bamboo
the matte, out Well , w tel YOU
Q err heard Ct while was away ! met friend In New
York who Was id hard up and be let me have thou.
ssnd shares Of Michigan Southern ct fy eight Pm bound
70 make handsome thing out OF I"
"The d. you arel" ~ered his outspoken friend
"HSvB you heard the newsS Your friend C+*s+r jast d
ms that Michigan Southern was down 70 twenty four he
bad the news from Cess"
T"* ap feared slightly disconnected, but Immediately
answered, That story won't 90 down. A**+*sy. ThAps
one OF old Sss*Is jokes"
too true however the bulletin Of Wood ward Il
saltonstal too surely convinced our political financial
friend.
The story having got considerable wind th, evening
there good deal Of smilins" all round u The bar In
the bvemtn story 1s declaring that would be his last
attempt NJ buling the Michigan Southern.
BANK OF KANAWHA.
From the Richmond kuqurer, August a.
Tee telegraph brings rumor that the Bank OF Ks-
nawba, In Virginia, has failed We greatly doub. the
rectueaa the renort daya hnWeveY ananIa