The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1857-10-07

W Ely lTlcuuS tudt dtu luduhiui lOT IulS
expression Of their confidence and esteem;
but the force of my business engagements
are such, that am compelled to decline
being candidate at this time. y.i s4eq
y .4sd LAUREN F. ELLSWORTH.
Rich ReYealments of the Ohio Life
gzs7 2idt Is and Trust. hra ne
4 The question as to who was the favored
Individual that got hold of the two and
a half millions of the last issue of Ohio
State Stocks at;l0sk in q lump, when
bids for the same were put in at l07 and
100 in parcels has at last been revealed
by the Investigating Committee. y saoL
lS2 From the Cincinnati Gazette, 22d. 4
Ohio Life Insurance and Trust. Com
WV. Scarborough, Esq, of the Trust
Company Investigating Committee, re-
turned fromiNew York on Saturday even
ing, and we had the pleasure of an inter-
view with him to-day. q = al'a a4 aait
Z au *-e5;fg*s fo y si.s X yo *4.5a4
As yet, however, the committee are not
in condition to make a formal report.
The bottom has not been reached and the
committee have, very properly, concluded
that they will make no report until they
can presentit in full and reliable shape.
This much, however, has been aseertained1
and may be relied upon. The capital
stock of the Company, two million del-o
lars, has been sunk. IS o. 5aa9lsszd3 %
sl X iaI1i ar r Ia bgl, y @g4a} *.aoiid
Now. the question is. where did this
money go to? To this no answer has as
yet been obtained. It does not appear
that the funds were stolen, outright. It
is not probable they were. The eonly rea-
sonable hypothesis is that Ludlow specu-
lated largely in stocks, and thus lost the
money. 1t is known that he purchased
| four hundred thousand dollars of the stock
Of the Trust Company at q high price
| 1t is also known that he took the last batch
| of BONDS ISSUED BY THE STATE OF OHIO.
| Ludlow took the two andia half mil
1lion Of bonds did he? hAnd whatdid he
pay for themf Our Fusion Gnanciers, who
have had the management of our State
matters for the last two years, report that
said Bonds were sold,2 not to Ludlow, but
to somebody else, at premium ofpthree
land half'per cent. The facts are, how
ever. that said bonds were sold to this ia
vored pet, for just, their face and nothing
more!s The bonds were six per per cent,
and due the first of January last. Six
months interest, (three per CENT was then
due upon them, and sthe exchange added,
Tone halfper CENT, just makes 9the lO3
Ifor which they were sold, and leaves not a
| dime for premium. Here was sacrifice
Ito the State of3at least 5 per cent, on
two andu a. half millions of bonds, equal
to $l25,000 Il 1oWhata did these fusion
Ii6nanciers 5doenext? The Republican Leg,
lislaturei at the instance of CHAsEs GIBSON
WRIGHT & Co., for we believe tits mol
I claimed that fBREsMN had anything te
do with this transaction, got a Resolu
ition passed appointing the OhiosLife 4
Trust Co., this same Ludlow, 5the depos
itory to keep and the agentto pay out thi'
money on the presentation of the bond
due, and this without taking one dollars
security of Ludlow, or of the Bank, fo
j the payment Of the money, or the per
| formance of this duty. ro5ga4
i, Here was "a pretty pickle for the grea
State of Ohio to be in. Her credit shaw
, ed to the tune of one hundred and twenty
q Eve thousand dollars, and her moneylil
5 the hands of the shaver, without security
:, How many of the Bonds were presente'
and redeemed nobody knows. The, com
T mittee to investigate Ludlow's doings say
E.sthey can find no bottom to9ehis affairs,
isAfter three weeks spent in. these. deep Sc
d souudings they give itnp and come home
The Bank hasssinee made an assignmen
and the whole has. gone to apot.f . So j
i seems under Republican rule Ohio ha
1, been q Government but in dnarae. !. Th
: Ohio Life ndiTrust has had the princips
ymanagemeutio of our State affairs. 1t ha
d banked upon its bounty, speculated npo
: its credit, and finally destroyed itself an
: sfdisgraced the State. The people of Obi
= really supposed they were ruled by tn
'ff fGovernment they bad instituted and b
lefthe agents they had selected; but tbi
fLuDLdw. this professional sstock7jobhe
ofI in Wall street, has been the chief magis
trate of the State.a yiotas,s!5as iiisua
~ The "Ohio Life and Trust, this man
le moth monster of Legislative munifcenc
i'd and the largest monied monopoly in th
lyl countrys was a sort Of ftgoldsn calf that's
IA the Rag Rarons and RaHkq Aarons wei