New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-08-25
MONDAY, Aug. 2i-P. NJ.

| MONDAY, Aug 2i-P. NJ.
| The Stock market was very active to-day the eg-
greeate sales in and out of the Board exceeing %
sbares. Some parties at the First Board had knowl-
edge of the impending suspension of the Ohio Trust
COMPANY and sold freely on the anticipated effect.
After the suspension was made public the market, as
| will be seen by the transactions a. the Second Board,
exhibited quasi panic, most marked in Cleveland and
Pittsburgh, which sold down to 90, having been 29i
on Saturday AT the close sale made at -. The
| decline in Pittsburgh was occasioned by the apprehen-
sion that the Trust Company held large amour. of
the Stock as collateral, which would be thrown upon
| the market The opening Of the New-York Central
| books took place to-day and the deliveries were
| very large. The shorts found great diff
Guilty in getting cash stock, and as high
as 70 was paid in the street. This, however, did
not prevent the market falling TO II after the Second
Board The bears sold freely at the morning board
at 75675}, seller thirty and sixty. The sales reached
about 900 shares Erie with sales of 5000 shares,
opened at 49, aud closed at 25 fall Of y cent from
| Saturday The August receipts are about the same
| thus far in August last year. Reading, with sales
of shares opened at G6 and closeda g. aganst
67i on Saturdays Toledo was strong in the morning,
| advancing from AL to 45l, but closed at %, de-
cline of q cent Southern Mchig gan fell of from u
TO %; Milwaukee and Mississippi was Az, and La
Crosse 234, against 25 in the morning. further de-
cline exhibited in Pennsylvania Coal which sold at
6s. After the Second Board there but little DISPOSE
ton shown to operate and the market closed very in
active. Compared with the prices of last Monday the
decline has been in Erie 81 Z cent Reading y
cent; Nsw.York Central "a; Michigan Central y
cent; Illinois Central = cent; Toledo - y cent;
Pittsburgh - T. cent Rock leland T. cent; Galena
= cent; Panama % y cent; La Crosse y cent;
Delaware 9 T. cent; Pennsylvania Coal 10 cent;
Cumberland .! y cent, &C., &c.
Exchange there is not large demand, and rates
are not very firm. Sterling, q a92 cent; Francs,
Hla516l.
Freights are rather frmer. To Liverpool, 10000
bush. Grain at q add; 900 bales Cotton at s. v
bale 1t0 bales Sea Island a. ID. To London, SOC
Beeswax at 2Os. 900 bbls. Rosn at Is. Cd a2s.; 10
tuns Clover Seed at Us Cd; $50 tuns OIL Cake at l5s
4, goo bush. Grain at sd. To Rotterdam, 500 bbls.
Rosn at 2s. Cd. To Bremen, 200 hhds. Sugar a!
22s Cd, by steamer To IIavre, Cotton at lc., Pot
AsAes at $S, Pearl Ashes 3d. The bark Foster, from
City Point to Venice with 600 hdds Tobacco at
37s. Cd. brig for West Coast Of Mexico, with Cot
ton and Machinery on private terms.
The business of the Sub Treasury was: Receipts,
| $73,543 q; Payments, $225,S2S -; Balance, Sl2,
| 3J96S So.
The announcement. between the Boards tina. the
! Ohio Life Insurance and Trust Company had been
obliged to suspend payment threw the street into great
excitement, and it became at the engrossing sub
jet of conversation. The magnitude Of the opera
tons of this institution throughout the West renders
| its suspension Of the most important financial
events since the Schuyler fraud and fears are ex.
pressed that it may produce further commercial dis
asters. The home o,e is by far the most important
| IN,
even temporarily, of its large deposits must prove
very embarrassing to its dealers in that city. The
amount of its liabilities is not stated but they est
mated at from five to seven millions. The annexed
| card has been received from the President:
NEW YORK Aug a. 1887. :
The unpleasant duty has devolved upon me to state
| that this Company has suspended payment. This
event has been mainly brought about III consequence
ofmaking loans in this city to parties who were unable
TO respond at this time. would add that the capital
Of the Company, two millions, is sound and reliable,
exclusive Of such loss may arise from the INSULT
cheney of securities pledged for loans above referred to-
c. STETS0N, resident.
We learn that about seven hundred thousand dollars
of checks paid GU, by the agency here on Saturday
| and to-day were uspaid. The checks which were
given today were received again by the Company aud
the drafts for which they were paid out given
up. Messys. Browpi Brothers Il Co, and otheT.,
placed an attachment upon the assets Of tie Company
here, foreign corporation, and the Sheriff and his
Deputies are in charge of the sflice and property.
The imt date embarrassment of this Company arose,
we understand, from its liability TO meet loans made
by it of some banking houses in the street. The pro-
ceeds of these loans bad been used in sustaining West.
ern railroad companies, one of which is said to have
received advances exceeding half million of dollars.
This Company, although in its title life insurance
Company, issued no policies on lives.
The contraction Of the banks is continued in all the
items, and especially in the deposit line which shows
falling off Of over two and half millions Of actual
deposits. The amount is now lower than for some
time, and the loss is, as far as can ascertain,
almost entirely in the interior balances These bal
ances are estimated to be about six millions less than
at this time last year. which, the aggregate of the
banks is about four millions less, would show that the
city deposits have increased. The undrawn line is
$64 242 OOO against $66sl5, Goo last week. The
traction in loans is lO0O Oo and the loss in the
specie reserve is $i,26OOOO, which is about
what was anticipated under the shipment les:
week Of 000 and the absorption by the Treasury