6691. Bank of Louisiana (New Orleans, LA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
December 1, 1865*
Location
New Orleans, Louisiana (29.955, -90.075)

Metadata

Model
gpt-5-mini
Short Digest
899c1b56763db537

Response Measures

None

Description

Articles say the Bank of Louisiana was obliged to suspend during the military occupation of New Orleans and later resumed business (reported Nov 14, 1866). Suspension is attributed to military control/liquidation rather than depositor runs.

Events (2)
1. December 1, 1865* Suspension
Cause
Government Action
Cause Details
Obliged to suspend/payments while under military occupation and military liquidation/control of banks in New Orleans.
Newspaper Excerpt
the banks of New Orleans, now under military liquidation, are the Bank of Louisiana State Bank...
Source
newspapers
2. November 14, 1866 Reopening
Newspaper Excerpt
The Bank of Louisiana, which was obliged to suspend during the military occupation of New Orleans, has resumed business.
Source
newspapers

Newspaper Articles (5)
1. December 5, 1865 Baton Rouge Tri-Weekly Gazette & Comet Baton Rouge, LA
Article from Baton Rouge Tri-Weekly Gazette & Comet, December 5, 1865

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to parish Judgesystem as it existed under the Constitution of 1812, and to my diffident comprohension, return to that system will be as universally approved as seems to be the repudiation of an elective judiciary. If this be accepted admitted, and I thinkit will/not be disputed, the duties of Recorders could be performed by clerk of courts, who in turn, should be disqualified from the performance of judicial acts, unless in the absence of Judges. The olection of Judges, Recorders, Clerksand Sheriffs mainly from personal or political feeling rather than capacity and fitness of the individual for the trust, has shaken public confidence in the administration of justice, besides rendering it expensive, tardy, and to the last degree uncertain. Bred to the vocation of agriculture, I cannot speak on this subject with technical familiarity, nordo iaim at doing so, contented if I can embody in clear and comprehensiv recommendation present system know to exist, for your correction: Provision will have to be made to re build the State Penicentiary, and to erect a State house. The former will require all needful dispatch. In selecting a site for the latter. regard should be paid to the locality. Crowded or ill-ventilated places)ahould belavoided, and if need be, large and roomy space, capable of admit ting the erection, in detached shape, of all the public buildings necesbary for the State officers and archives, to be provided for suitably should/be obtained in the neighborhood of New Orleans. The thoroughfares and crowded streets of a great city are unsuited for such purposes. It is scarcely required that I should dwell upon the urgency of an immediate and perfect organization of the militia of the State. This cannot with/safety be deferred; for it is not compatible with the reconstruction policy of the Government to maintain armies in the States for the purpose of police. The reorganization of our State, which will be completely accomplished on the admission or our delegations to Congress,swill, without question, be speedily followed by the abolition of martial law within our borders, and the withdrawal of all troops not required for garrison or fort purposes. That this may not happen before a State force can supply its place, you will, am sure, fully guard I have endeavored without success to procure the transfer of the banks of New Orleans, now under military liquidation, from the control.of the Commander of this Department to the civil power. The banks thus unaccountablyciroumetanced, are the Bank of Louisiana State Bank, Merchants' Union, Orencent City and Bank of New Orleans. Why the military usurped the authority to take possession of these banks and regulate their administration any more than the reason for their continued retention of them. I have never been able to know or understand. As they stand in the relation to their creditors of insolvent institutions, I especially refer to them, so that you may take such action to have them administered in accordance with law and the just rights of all concerned, as cireumstances will warrant. The present condition of the New Orleans and Jackson and New Orleaus and Opelousas Railroads inspires uneasiness. The for mer road as, unexpectedly to me, handed over by the military authority to the ad ministration of a few man, who had conducted it after some fashion. They refuse to explain its affairs from the -occupation of this city by the National forces until the relinquishment of the road by the Commauding General Acting upon the gestions of President Johnson, who consid ered it should be a step precedent to the delivery of the roads to the control of loy al directorschosen by the stock holders, the Mayor of New Orleans called for new election by the stockholders of each pany His call was fully responded to, and directors of the highest respectability and reliability were chosen. he old directors of the New Orleans and Jackson Railroad fearing accountability or unwilling to re linquish their places, resisted the demand fora surrender of the control of the corporation and its affairs, and appealed to the lawsto sustain them. They hold possession and give no account of their stewardship. The large interest of the State in both of these important enterprises made it incum bent upon me to sustain the action of the Mayor of New Orleans, in his exertions to have their true present state exposed for public information. The New Orleans and Opelousas Railroad is still held and run by the military, who declinate relinquish it to its stockholders unless the Board of Directors release the Government from all Preclamations on socount of the enormoussum received by its officers since the road has been in their hands. Donations of land made by Congress to the Opelousas road are likely to lapse from a failure of condition,1f not attended to Your early attention to the roads and all connected with them is much demanded. Various public works, of greater or less importance, as well as the reparation of the vees, will have to be undertaken by the State. In connection with them, the creation of a Board of Public Works, or the adoption of some other way for planning and sepervising them will be requisite. Ex perience will be a safe guide as to which plan, that of a Board or of a Chief Engineer, is more preferable No other legislative bodies that have ever before been convened in this State have beene harged with the consideration of legslation embracing 80 many, various and momentous subjects. Upon their enlightned,just and prompt settlement, everything affecting the 1-being, happiness and prosperity of the people and State debends. Procrastination is ruin ; postponement is death The faithful oitizen, called by an wise nd omniscient Providence to administer his powerful Government, watches with offectionatesolicitudeyour proceedings. He ay great stress upon the course of Louisana is anxious she should take her true place in the Republic has manifested by numerous kindnesses of manner and acts 18 warm sympathy with us, and will be low to believe that we will ever disappoint him. The people have already given

2. March 3, 1866 New Orleans Daily Crescent New Orleans, LA
Article from New Orleans Daily Crescent, March 3, 1866

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Few Orleans Daily Quescent. New Orleans Money Market. CRESCENT OFFICE, No. 94 CAMP STREET, Friday Evening, March 2, 1866. The most prominent feature of the movement in financial circles to-day hasjbeen the decline of fully one per cent. in rates of Gold and Foreign Exchange. Gold opened dull and drooping under advices by telegraph of a decline of nearly two per cent. in the New York market yesterday. Offerings were very heavy throughout, but the demand was of an unusually restricted character, and the operations for the day have been limited to the following amounts at the prices annexed, viz: $5000 at 135;$5000 and $5000 at 1343/4; $20,000 at 134% $1000 and $10,000 at 134 1/2: $5000, $6000 and $17,000 at 1343/5; and $1000, $2000 and $3500 at 134. In Silver the only sale of any importance that transpired was $2000 American halves at 131. We now quote Gold at 134@1341/2, and Silver 130@131 for American coin, and 134@135 for Mexican dollars. Dispatches quoting a slight reaction at New York were received during the day, but failed to check the downward tendency. FOREIGN EXCHANGE has been very flat to-day. The market was more than amply supplied to meet the most general ordinary demand, while the inquiry was at no time much better than nominal, as nearly all the principal buyers still ab. sented themselves from the market, owing to the unfavorable tenor of New York advices. The transactions for the day have been restricted to the following sales, viz.: £500 at 146, £3000 at 1453. £14,000, in four lots, at 145, £6000 at 144)/@145, £1000 and £12,000, the latter taken by a bank, at 1441/2, £5000 at 1441/4 £2000, £2800 and £8000 at 144, and £2500 at 1433. Sales of Francs comprised 20,000f. at 3.883/f. 200,000f., in two lots, at 3.90f., and 100,000f. and 200,000f. at 3.91 1/f. The quotations at the elose of business this evening were: For bank sterling 147, clear bills 1443/1155/2, bill of lading bills 14314@14414, bank francs 3.821/@3.83}4. and outdoor francs 3.871/@3.92)/. DOMESTIC EXCHANGE-The movement in Domestic Exchange to-day has disclosed increased firmness, without developing, however, any quotable variation in rates. The demand at bank for sight checks on the Northern cities was active and general all day, and one of them refused, towards the close, to sell at the ruling figure of the day. Out of doors the supply of private and commercial exhibited but little, if any, increase, and the purchases by banks and bankers have been confined to the annexed trifling amounts, viz: $10,000, $20,000 and $25,000 New York sight, at % # cent. discount, $10,000, Boston do. at 1/2 78 cent. discount, and $20,000 New York and Boston, taken by one bank, at 7 cent. discount; $30,000 three days' sight at 3/2. $10,000 ten days at 2/18, and $15,000 fifteen days at 1 TO cent. discount. We now quote: New York sight at 1/4 73 cent. discount at bank, and F cent. discount out of doors; five and ten days' sight 78 cent. discount; fifteen and twenty days' sight 1@1% P cent. discount; thirty days' sight 11/2 cent. discount; and sixty days' 2 B cent. discount. STOCKS AND BONDS-The movement in securities has been quite limited since our last. The supply of favorite descriptions was light throughout, and the general run, though, as heretofore, abundant, continued neglected. The following embrace the whole of the operations that have come to our notice, via. 9 shares City Railroad Company (old stock) at 195; 50 and 50 shares do. (new stock), reported by two parties, one at 170 and the other at 180; $15,000 City Consolidated Bonds at 90: and $5000 do. at 901/2. UNCURRENT BANK NOTES-There has been a general suspension of operations in the notes of the liquidating banks to-day. Offerings were light from the opening to the close of the market, and the demand was at one time much better than nominal. Sales have been confined to driblets, and we still quote Bank of New Orleans, Crescent City Bank and Union Bank at 88@94c., Merchants' Bank at 77@82c., Louisiana State Bank at 73@76c., and Bank of Louisiana at 55@60c. TO dollar.

3. November 15, 1866 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, November 15, 1866

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New York News. NEW YORK, Nov.14.-A Washington special says: On the meeting of Congress a resolution will be introduced calling for all the information on the subject of the action of Prussia against American citizens. The whole matter will be thoroughly investigated. In the opinion of many prominent gentlemen,our Minister at the seat of the Prussian Government has pursued an ulterior course, highly reprehensible. It is understood that the Government is not particularly well satisfied with his conduct. There are a number of candidates for the vacancy in the Judgeship of the United States District Court for the Northern District of Ohio, occasioned by the death of Judge Wilson. Among the number of applicants are Franklin J. Dickinson, F. Backus Sherlock, J. Andrews, and others. The case of the broker, Smithson, against the Secretary of W ar, has gone through all the pleadings, and is now ready to go to a jury. It understood to be a test case, and great interest is felt in the resnlt. Last week 1,000 stand of arms were abstracted from the armory in this city, and are now concealed near New York. This was done while the guards were on duty around it. The United States Marshal and Capt. Shillington hunting up the parties. The cabinet o-day, among other matters, considered the appointment of a successor to Wm. Dart, District Attorndy for northern New York, and Judge Geo. Munger's appointment was determined upon. R. M. T. Hunter, of Virginia, had an interview with the President this afternoon. He desires to have certain property of his in West Virginia barred from confiscation: but as it has already been under previous decisions of the Federal authorities, there is no doubt their action will be sustained. Within the last few days the President has directed pardons to be issued to the following persons, one of whom sought for pardon under the first exception of the Amnesty Proclrmation, having held a petty office under the Confederacy, and the remainder having applied under the $20,000 clause: Willis Benham, of Georgia; A. Pegram, of La.; K. H. Reynolds, of Arkansas; J. D. Epps, of Mississippi; W.A. Henderson, William Jones and John M. Brown, of Tennessee. The Tribune's St. Louis special says The Conservative canvassers have been induced to throw out all the votes in Clinton county, except those cast in one town, thereby endangering the election of Van Horn. A claim has been made to Knox to count the votes cast after sundown, as the polls had not been closed. If allowed, Blair is defeated; Noell has about 40 majority. In the case of Charles Lockwood against the New York Central Railroad heretofore reported, a verdict for the plaintiff was rendered yesterday, giving him the full amount claimed, which is $25,000. There was a large and enthusiastic Fenian meeting in Temperance Hall last evening. It was addressed by Gen. Spears and Senators Mehan and Morrison. The World's special from Washing ton and New Haven report that there were seen a few meteors last night through powerful observatory telescopes, but there was no great shower any where. The World's Washington special says; The Government has information professing that the Fenians are ready for an immediate invasion of Canada. It is not probable that any action will be taken in the premises, as the news is donbted somewhat. The World's special says: The Bank of Louisiana, which was obliged to suspend during the military occupation of New Orleans, has resumed business. The Herald's Washington special says: It is said that Hon. John A. Bingham, who is preparing articles of impeachment against Mr. Johnson, will charge him with aiding and abetting the assassination of Mr. Lincoln. It is understood that Mr. McCulloch will, in his report, urge upon Congress the necessity for the passage of a law looking towards an early resumption of specie payment. The report will be quite voluminous, and will be one of the most interesting ever issued from that department. Gen. Sickles, commander of the Department of South Carolina, has been The ordered to Washington. precise import of the order not known.

4. November 15, 1866 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, November 15, 1866

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The Bank of Louisiana Resumes Business. NEW YORK, Nov. 14.-The World's Charleston special says: The bank of Louisiana, which, with others, was obliged to suspend during the military occupation of New Orleans, has re+ sumed business.

5. December 17, 1866 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, December 17, 1866

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ington Correspondence of the New York Herald, 10th. One House of the Tennessee Legislature has passed a bill loaning $300,000 of State bonds, to the East Tennessee and Virginia Railroad Company. During the progress of a ladies fair at Library Hall, Petersburg, on Tuesday night, Mr. George Woody was badly shot in the neck by a pistol which was being carelessly handled by a young man named Leath. At last accounts the bullet had not been extracted. It is difficult to imagine why a young man "or any other man" should be handling a pistol at a ladies' fair. DISTRESSING SUICIDE.-The Lynchburg News learns that a Mr. Cheatwood, from Lewis county, W. Va., committed suicide at Ronsack's in Roanoke county, on Monday morning last, by cutting his throat from ear to ear, death ensuing almost instantly. The deceased was on a visit to his brother, who has resided for a great while at Bonsack's, and whom he had not seen for twenty years. He was a man of family, and separation from them is believed to have been the cause of his self-destruction. NEW ORLEANS BANKS.-We observe that the old banks of New Orleans are making great progress in the work of reconstruction. Three New Orleans banks have never reduced their capitals; the Southern Bank never suspended specie payments; the Union Bank and the Crescent City are expected to resume business at an early day. The Bank of Louisiana, the leading bank in the State, is still some distance in the back ground, but arrangements for its re-establishments are expected. BEAU HICKMAN.-Colonel Hickman authorizes us to deny that he is a native of North Carolina. Like. Henry Clay and Patrick Henry, he was born at the Slashes of Hanover. The Colonel says that it is preposterous for a State that produces nothing but tar and turpentiue to claim the parentage of the greatest financier of theage. North Carolina can tnrn out Badgers, Grahams, and Clingmans, but never a Hickman.Star.