The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1857-10-14
From the Ohio Statesman-j =
Ohio and the Broken Trust Com:
pany.

| We do not believe that there is i'd
the world 80 tolerant and patient peo.
Pile as those Of Ohio. Anywhere else
such conduct as that of Chase, Wright,
Stone & Co., would excite a storm OF
State is SO degraded, that our affairs are
carried on Ia a style that would dis
grace P. B. Manchester or Dr. griead.
to say nothing of Schuyler or Ludlow.
In order to conceal their own derelic-
tions until after the election, these meg
are doing all in their power to hush up
inquiry into the account of Ohio and this
broken bank. The state of affairs with
the bank is so desperate, that instant
prompt action is required to fad out
how the State stands, and to get what
ever mey be saved from the wreck of the
concern. Instead, however, ofVigilant
and searching Investigation, our StatS
officers have readily caught at the un-
supported statements of the felon Lud-
low, in order to pacify the public alarm,
We have no hesitation in saying, that
instead of being reelected to Office, our
officials deserve to be impeached. Every.
thing that appears about the Trust Co.;
leads to the conclusion, that Ludlow has
used the State money for his own purposes
and purposely confused the accounts of
the bank. These accounts are "tota7I
@nrclia6Le;," this is the language OF
Nessrs Hooper and Scarborough, who
have spent a month, day and night, in
attempting to- elucidate them. Tho (
State has nothing by which the accuracy r
of these ''totally unreliable" accounts
can be tested or supplied. Everything D
is at sea without chart, reckoning. or
compass, and our criminal State officers
more like accomplices of Lud-
low than faithful guardians of the public
interests. Their former stupidity is ex.
,eeded; if possible, by their present
treachery. If the people tolerate any
longer this drove of stolid and desper.
ately vicious donkies, they do not de-,
serve the least sympathy in their suffer:
ugs. After reading the letter appen:
led below will not every honest and ]
capable man feel, that the interests Of
Ohio are betrayed by Chase, and that
IN enormous sum, out of the two-and-ai
lalf millions entrusted to Ludlow with :
,ut security, is lost to the State.
70 THE CREDITORS AND STOCKHOLDERS OF
THE OHIO LIFE INSURANCE AND rRusf
COMPANY, iaas
The undersigned, at the urgent re-
Iuest of the Trustees of the Ohio Life
Insurance and Trust Company, repaired
% New York several weeks ago to as
list the President Of the Bank, Mr..
5tetson, (who had gone thither previ-
'usly) in ascertaining the cause of the
udden embarrassment of the bauk, and
n investigating the condition of the New
FORK Office.
WE HAVE ENDEAvoED TO THE BEST Oh
'UR ABILITY, TO INFORM OURSELVES OF
HE CONDITION OF THINGS; BUT, AFTER A
IoNTHs UNR EMITTING LABOR BY DAY AND
light, WE ARE UNABLE TO PRESENT A
OF ITS AFFAIRS WITH ANY Ar
ROACH TO THE TRUTH, SUCH is THE IN .
,ccRAcY OF THE BOOKS AND THE TOTAL
Y UNRELIABLE CONDITION OF THE AC-
COUNTS. -
twill require several weeks of patient
Investigation before correct statement
an be rendered.
The immediate cause of the failure Of
he bank we find to be, large advances to-
railroad company, the magnitude Of
which, it seems, is as much a surprise
o the Directors of the railroad as to
he Trustees of the bank. 81
These advances have boen made chiefly
ince April, when the Trustees, resident
D New York, made an examina.ion Of
he Office, and report upon it to the
Board here.
We have great satisfaction in being
BILE to state the Trustees here, as we'll
s those resident in New York, are en-:
irely clear of completely in any of the.
which have led to the late
disastrous result, and, with one or twS
RECEPTIONS, Of very trifling amount, are
lot debtors to the New York Office.
w, HOOPER,
W. W. SCARBOROUGH.