Louisiana National Bank (New Orleans, LA)

Episode Information

Episode UID
162600809
Episode Type
Run Only
Bank Type
national
Bank ID
16260 national
Charter Number
1626
Start Date
May 14, 1867
Location
New Orleans, Louisiana (29.955, -90.075)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f1ff42b6af07a256

Response Measures

Accommodated withdrawals, Books examined

Description

Articles describe a city-wide panic affecting all New Orleans banks but do not name Louisiana National Bank or state it suspended.

Events (3)

1. December 30, 1865 Chartered
Source
historical_nic
2. May 14, 1867 Run
Cause
Local Banks
Cause Details
Closing of the Sub-Treasury and First National Bank by the Comptroller and announced defalcations triggered runs on all city banks.
Measures
Several banks (e.g., City National, Commercial Bank) suspended operations; special agents assumed charge of the Sub-Treasury.
Newspaper Excerpt
The excitement has caused a run on all the banks in the city.
Source
newspapers
3. October 2, 1905 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (3)

Article from Gold Hill Daily News, May 16, 1867

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Article Text

OVERLAND DISPATCHES Political Meeting and Riot in Mobile. MOBILE (Ala.), May 14.-The meeting to-night which was addressed by Judge Kelly, broke up in a row. Several shots were fired. One white and two colored men were killed and a number wounded. Closing of the Sub-Treasury and First National Bank at New Orleans by Government. NEW ORLEANS, May 14. -There is great excitement in financial circles on account of the closing of the Sub-Treasury and First National Bank by order of the Controller of Currency. A special agent of the Treasury Department has assumed charge of the Sub-Treasury. Heavy defalcationsare already announced in both. L. Pilly, formerly Treasurer and President of the Bank, has made an assignment of his effects to the extent of a million and a quarter to secure Government. The excitement has caused a run on all the banks in the city. The Na tional suspended this evening. Important Suit Involving the Status of Texas During the Rebellion. WASHINGTON, May 14.-Texas against various parties-in reference to the Texas indemnity bonds issued by the United States upon the annexation, many of which were sold in New York, by the Texas authorities-was argued in the Supreme Court to-day. The question whether the de facto Government of Texas was competent to dispose of these bonds was moved, and the decision really involved the status of Texas during the rebellion. Radical Convention at Baltimore. BALTIMORE, May 14.-The Radical Convention has adopted resolutions in favor of impartial suffrage; calling on Congress to abolish all distinctions of race and color; declaring that the Constitutional Convention at Annapolis was held in violation of law, and that any Constitution framed by it, without impartial suffrage, should not be recognized by Congress and ought to be disregarded by the people. Depot Buildings Destroyed by Fire-Sale of the Dunderberg to the French Government. MEW YORK, May 15.-During the storm on Thursday night, the large depot at Plainfield, New Jersey, was struck by lightning and completely destroyed hy fire. The steam ram Dunderberg, the most powerful engine of naval warfareafloat, has been sold to the French Government for three million dollars. Leading Radicals Think there will be no Meeting of Congress in July. NEW YORK, May 15. - The Times' special says Colfax expresses the opinion that there will be no meeting of Congress in July. None of the Radicals now here, including Boutwell, Ashley, Butler and others, have any idea that A quorum will be found present in either branch at that time.


Article from The Portland Daily Press, May 16, 1867

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Article Text

NEW ORLEANS. Extensive A Panic ia Financial Circles "Irregularities" Closing of the SubTreasury and Two City Banks. NEW YORK, May 14. The Tribune's special from New Orleans May 14, says there is great excitement here in financial circles, caused by the closing of the U. S. sub-treasury and First National Bank, by order of the Comptroller of Currency.Mr. Knox, of the Treasury Department of Washington, has assumed the charge of the sub-treasury, and has closed the bank. Heavy defalcations are already announced in both.L. Pillay, formerly sub-Treasurer and President of the bank, made an assignment this morning, of his effects, to the extent of a million and a quarter of dollars, to secure the Government. The banks hold a large amount of paper of Gen. Herron, U. S. Marshal, but Mr. Knox hopes to secure this out of Herron's distillery and plantation property. Gen. Gordon Granger, Gen. Herron, Judge Whitaker, Miles Faxter and Mr. May, are the principal directors of the bank. William R. Whittaker is subTreasurer. This excitement has caused a run on all the banks, and a very stringent money market. The Bank and Treasury have been surrounded by a crowd all day. The City National Bank suspended this evening.


Article from Dodgeville Chronicle, May 23, 1867

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Article Text

WEEK SUMMARY OF THE General News. The Commercial Bank of New Orleans suspended on the 17th. leave granted has been first of General Hooker year from the John Robinson Lakes. June, of absence owing for to succeeds one ill health. him in General command of dethe Department of the has virtually The Supreme Court State in the Union by cided that Texas is to restrain the payan Texas bonds to ment granting of certain injunction alleged, they were armed the sold parties dur- hosto whom, rebelllon it is by parties in ing the the United States. tility The to Atlantic cable near of 1866 the coast of has been New- ruptured by an iceberg On the 8th instant it was refoundland. that the iceberg had disappeared, of 1866 ported passing over the cable have been but in some damage must cable be seems for that the signals through that ceased. The done, and have now and came imperfect, 1865, however, is unimpaired, the injury cable of reason to doubt that withthere is cable no of 1866 will be repaired expense. to the or any considerable 1865 exceeds out delay of the cable of as it is, The requirements capacity of business, great the this country and Europe. Dav between 13th instant Jefferson On brought the before Judge Underwood, the sum was was admitted to bail in at the Noand $10,000 to appear for trial Greeley, of term of court. Horace Bottsare vember Schell, and John Minor There was Augustus the names on his bond. when the among hearty and forcible, cheer release the a most directed the Marshal to two there Judge and for a moment or of those prisoner, great struggle on the part was was a to extend congratulations. had deanxious understood that Judge Underwood to remand not to accept bail, but change of termined to Libby prison, and this intervenDavis is attributed to the took programme of Horace Greeley. Davis Canada, tion for New York, thence for them steamer his children are. After seeing His friends where will return to Mississippi. and he that he will live as quietly and secluded announce as possible during the summer fall. New York Central Park Commis- site for The have agreed to set apart a erected sioners monument costing $70,000, to be memory a the Seventh Regiment to the the of by its members who perished during rebellion. A young woman named Alice C. Abbott charge been arrested in Boston on a of has causing the death of her stepfather, Washington Pickering, by poison. The publishers of Missouri, in outside that St. Louis, held a convention of on the 12th, to consider the forty general city interests of the press. About delegates were present A permanent and the State organization was effected Louis Convention adjourned to meet in St. a year hence. The President has appointed as Minister to Berlin Hon. George Bancroft, the historian, in place of Mr. Motley. The depredations of the Indians both east and west of the Rocky Mountains,a indicamore frequent, and the are that a general war is numbers of Indians are growing Large tions inevitable. said to be gathering in the neighborhood of several are of the western forts, and troops of being rapidly forwarded to the scene danger. A new suspension bridge is to be built across Niagara river, just below the Falls, be for of visitors. It will than the rail- T. considerable the convenience longer famous John bridge. The directors are Alex. B. Williams, White, and Vivius Bush, Delos road DeWolf, W. Hollis Smith. In the Maryland Constitutional Convention, a bill of rights has been reported, which provides for the admission of nethe groes' testimony in the Courts of State. The bank panic in New Orleans appears to subsided. The banks successfully withstood the heavy run was have that City made Na upon them. The report that the tional Bank has suspended is Wilson addressed a Senator contradicted. public and meet- was ing in New Orleans last week, followed by a colored clergyman. General Longstreet was one of the Vice Presidents the Some apprehension of of meeting. military kept riot was felt, and the was under arms. General Sheridan has issued an order citizens of New from forbidding Orleans has carrying firearms, a practice that become quite too common and dangerous in that city. The ram Dunderberg, which is reported to have been sold to the ment for was the prop$3,000,000, French private Govern erty of Mr. Webb, the distinguished New It was by York ship builder. constructed him as an experiment, with the expectation that it would be purchased by the Government, but the purchase was never completed. The says a number of chiefPittsburgh wealthy American Commercial gentlemen, ly Pennsylvanians, have offered to undertake the building of the ship canal connecting the lakes with the St. Lawrence. It will extend across from Lake to Lake and Huron Canadian Ontario, territory will cost an enormous sum of money, but the to be and the amount of advantages immense derived freight therefrom, that will seek that channel of conveyance, will render it one of the most undertakings ever in attempted profitable America. Cable dispatches state that the King of visit arminatha summer