New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-08-28

The CITY of Troy is liable as indorser on the bonds
of the Troy Union Railroad Company. $4,000 Of
which are advertised to be sold in Hartford the LIST
of September to pay two notes of the Hartford Prov
idence and Fishki Railroad Company, of g. 900 each,
irdor ed by A. W. Sprague of Providence, and now
under protest.
In regard to the Suspension of the Ohio Life and
Trust Company The Cincinnati Commercial says:
About O'Clock yesterday afternoon private dis
patches were received in this city announcing the sus
pension of the New-York Branch of the Ohio Life In
sluance and Trust Company Bank This news took
every body by surprise II acted as clap OF thunder
in a clear sky the Trust Company had been re-
garded as among the safest and most substantial bank
ing institute, Ms in the country. Its business here had
been carefully managed. ard yielded fair profit. On
the 4lh Of July semi annual cash dividend was de-
cared of A. T. cent On Thursday last the stock sold
at the New-Yotk Stock Exchange at within fraction
of par indicating confidence there 10 addition to all
this the Western business of the Bank continued large
and profitable Its discount lines have not been ill.,
creased, while It's deposits were diminished.
The general business of the country is in good
condition, preser ting both present aud prospective
most healthy appearance. Money in all the Western
markets and indeed in every market outside OF New
York Stock circles, has been quite easy. What then,
could have caused occurrence so disastrous in the
operations Of this institution Upon this point we are
utterly in the dark. Through public or private chan
nels we have no advces from New.York except the
bare of the suspension. The doors were
closed Yesterday at O'clock and the fact was Off
cislly announced to the Dixectors here by dispatch
from Mr. Stetson President of the Bank who left this
city on Saturday morning In obedience TO an urgent
dispatch from New. York.
The Western country, fortunately, was never in a
better condition than at the present tire The land is
overruDpipg with agricultural wealth. Merchants
stand m with ample resources to meet their habill-
ties. Credits have been largely curailed within the
last twelve months. Banks have kept close to Shore
and have but little to fear. Expansion which 10 al
ways dangerous has been avoided, and the aggregate
circulation of Western banks is at this time greatly
below an average. These facts will tend to sustain
cor fdence under the pressure which an occurrence
like that noticing is calculated to produce 1t
will be proper therefore, in considering this disaster,
TO trace 20 the true cause and not connect 1t with
the general legitimate business operations of the coun-
try. -
meeting last evening, and at q late hour We received
be following card from which it will be seen the Bank
will not be opened this morning. The Directors ex-
press the belief that the means of the Company
ample to meet all its engagements; and assure the
public that early steps will be taken to resume bust
ness.
The OHIO LIFE assurance AND TRUST COMPANY.
Hayine very unexpectedly received adsces from NewYork
that the e this Company IN That city had suspended th.
day the Board Of S deem 20 cS ~ aO5s
situation and condition of thst office The Board of Trustees
S % the to s 70 SaG fas Ssy and
that early steps vii be taken to resume business.
AugDit a. siai Isl? -' ~ S P BISHOP, Asst Cashier
PS-The collection paper will be found the Bank of Gos
department Of this Company ;. p B., Asst Cashier
The failure of SIr. A. Fraser of Chicothe is
nounced The G0-ette says
On Tuesday last il announced thai Mr.. a. Fra
SER Of this city, who was al gey engaged in the manu-
facture of starch and whisky unable TO meet his
engagements, ana bad made an assignment OF all his
property 10 Mr.. ErOs Prather Of Bourney lle in this
county, who II is understood, had indorsed his
tFrastr'sl paper to large amount The announce
meut created great excitement, Mr.. Z. has been
employing immense capital, and his liabilities were
stated to be half million of dollars. From the
best information have been able 10 procure, the
of liabilities assets will hardly be less than
$500 060
To add to the panic il was announced to-day that
Mr.. Prather, 10 whom Mr. Fraser assigned had HIM
self been compelled to make assignment and that
his liabilities exclusive of his Endorsements for
Fraser, would be about fifty thousand dOlSs above
Lis assets Mr. Prsthsr of the heaviest land
owners in the SclotO Valley, and although he was
known 10 be considerably involved in debt, he was
regarded a rich man over and above his Indebted
ness, and his credit was almost unlimited.
BY the suspension Of Mr.. Frasers works, hundreds
of poor labOres, who dependent upon their daily
labor for the support Of themseles and families,
thrown out OF employment.