6698. Bank of New Orleans (New Orleans, LA)

Bank Information

Episode Type
Suspension โ†’ Reopening
Bank Type
state
Start Date
December 18, 1867
Location
New Orleans, Louisiana (29.955, -90.075)

Metadata

Model
gpt-5-mini
Short Digest
613cd1a6b067a1e4

Response Measures

None

Description

Articles report the Bank of New Orleans suspended business on Dec. 18, 1867 on account of depression in trade and that it resumed business the following month (January 1868). No run on the bank is mentioned.

Events (2)

1. December 18, 1867 Suspension
Cause
Local Shock
Cause Details
Discontinued business because of depression in trade (general local commercial depression).
Newspaper Excerpt
The Bank of New Orleans has discontinued business on account of depression in trade.
Source
newspapers
2. January 1, 1868* Reopening
Newspaper Excerpt
The Bank of New Orleans suspended active business in December, but resumed in the ensuing month.
Source
newspapers

Newspaper Articles (4)

Article from Nashville Union and Dispatch, December 20, 1867

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Article Text

'4981 '0% Largest Circulation in City and State A VOTHE so SMIN The Bank of New Orleans suspended the 18th inst. Albert Smith, a freedman, was appointed by General Pope a Justice of the Peace in Osacola, Ala. Virginia reports four hundred and sixtyfive cases in bankruptev, the applications come in faster than ever. The Postmaster General asks an appro priation of $22,837,500 for the next year, ending June 30, 1869. Official returns from all the districts South Carolina, except seven, show a cient vote cast to insure the success of Convention. The Paymaster General reports thirty five millions paid out on the bounty thus far, and forty-five millions yet to paid. The Republican State Convention New Hampshire, which was held on 18th inst., expressed a preference for Grant for President. The Boston Board of Trade has decided to call a commercial convention to consis of delegates from all Boards of Trade Chambers of Commerce in the United States, meet in Boston on the 5th of ruary nexts The Chicago Tribune suggests the of Schuyler Colfax for Vice President the ticket with Grant, under certain (ingencies, and the Chicago Journal dorses the suggestion. The Chicago police are strongly pected of great corruption, but as the lice Commissioners, the only persons thorized to investigate charges, are though to be not free from complicity, there nears little chance of getting satisfaction the matter. A new town called Dale City is built in the Black Hills, thirty-five west of Cheyenne, on the Union Pacification railroad. It consists, at present, of fifteen buildings, and others are erected. Gold has been discovered in vicinity of the town. The Committee of Ways and Means timate that a revenue of $305,573,40 ought to be realized from the whisky tax whereas it only produces $28,000,000 Estimating the product from the capacity of stills in operation, the government '000'000'002'1$ received bave 01 Accounts from the farming districts port great destitution among the farmer in some sections. There is nothing in the cotton fields, while labor is sought but cannot be procured among freedmer because their term of service had expired others because they will not work, from various causes. Thad. Stevens' amendment to the struction laws, which was forced through the House of Representatives on the inst., is designed to secure the ratification of the constitutions that may be adopted the conventions now in session in Southern States. Gen. Hancock has ordered an election in Texas on the 10th, 11th, 12th, 13th 14th of February next, to determine for against a convention. The laws governin the election will mainly be the same existed in that State. Each ballot sented by a negro must be marked colore by the judge of the election. The vention, if decided upon, is to consist eighty delegates. A Dublin dispatch of the 18th inst. The examinat on of John Martin others connected with the Fenian demon stration on the 8th inst., was conclude yesterday, but the decision of the was reserved. This morning the men were again brought before the trate, and Messrs. Martin and Taylor committed for trial on the charge of misde meanor. They immediately furnished requisite bail and were discharged custody Another attempt was made to blow the prisons in London on the 18th Powder was placed under the walls of bank jail, in which a number of Fenian were confined. The preparations were complete, and the fuze had been lighted the conspirators without attracting atten tion. Owing to some defect in the arrange ments the powder did not explode, and plot was discovered before the attemp could be renewed. No arrests, and no to the guilty parties. Sheriff Arcutt, who was shot at mazoo, Michigan, last week by some ans, who were trying to release prisoner rom jail, was buried on the 16th The funeral was attended by an immense crowd. After the ceremonies at the the crowd rushed for the jail where prisoners were confined whose release attempted when Arcutt was shot. A ful scene ensued between the mob and police, but the latter finally succeeded quelling the disturbance. The Judiciary Committee had a meeting on the 17th inst. and attempted to


Article from The Portland Daily Press, December 20, 1867

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Article Text

louisiana. BANK SUSPENSION. NEW ORLEANS, Dec. 19.-The Bank of New Orleans has discontinued business on account of depression in trade. FIRES. 809 0312 Two more fires occurred in Vicksburg, Miss., last night, One of which was accidental and loss trifling. The other was the work of an incendiary and the loss $18,000.


Article from The Bolivar Bulletin, December 28, 1867

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Article Text

The Bank of New Orleans suspended on the 18th inst.


Article from New Orleans Republican, September 1, 1868

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Article Text

amount in 18 Thefo lowing dividends have been declared during bearde year, viz: Mechanics' and Traders Bank 5 # year, January 1, and B cent July 1: Canal Bank 5 bonds? cent December 1; Union bank 3 B cent August been Citizens' Bank 6 P cent February 1, and 5 T of August 1; Southern Bank 5 B cent July 1; 1; Crescent City Bank 3 cent July A; New sions ank of America 10 a cent January 1, and 8 F cent A Orleans City Rarilroad $5 - share October 1. $4 P Collector pare January 1, and $4 $ share July 1: Pontcharrently train Railroad $4 January 1, and $4 July 1: Carrollton tradel Railroad 4 & cent July1; Gas Light Company 5 1 atistics January 1; and 5 BE cent July 1; and Levee be item Cotton Press 37 cent January 1, and 278 cent 118 1. The Bank of New Orleans suspended active 141 usiness in December, but resumed in the ensuing in At month. Its stock has ruled considerably higher since and be resumption than its ruling rates before the sus. Mension. None of our banking institutions who care circulation out, have failed to redeem it on so negimentation in national currency, with the excepmarketation. for basion of the Bank of Louisiana, which is in liquiPrices and Freights.. principle basis of our freight been market during the past year consisted of 582,000 and 12 ales of cotton; 10,000 nhds of tobacco, and 200,000 acks of corn, to Transatlantic ports; and 100,000 bales of cotton, 4800 hhds of tobacco. 22 500 bbls of in molasses, 100,000 bbls of flour, and 416 000 sacks of 9c at researa to Northern United States ports. These figures untilghbow a decrease of 37,000 bales of cotton, and an inof case of nearly 60,000 sacks of corn to Transatlantic have orts, and & decrease of 142,000 bales of cotton, 1000 demand of tobacco, and 35,000 bbls of flour, adid an increase of 375,500 sacks of corn, and crop NO bbls of molasses to Northern ports. at 7 A general idea of the course of foreign freights a in may be formed from the rates for cotton to Liverpool, bun which ruled in September at 1-2a9-16d by sail, and 1, 150 steam; in October at the same by sail and 7/g by team; in November at 9-16d by sail and lally by butt Steam: in December at 9 16d by sail and by steam: Indi January at 9-16a5d by sail and Bald by steam: in tirs February at 19-32a by sail and sea7ed by steam; in abo March at 7-16a9-16d by sail and sqa7ed by steam in onvenie April at 12-16d by sail and 9-16a%d by steam; in May at by sail and %d by steam; in June at use of $-16d by sail and 1-2a% by steam: in July at 7-16d by themil and 1-2a โต, d by steam; and during the past month 34,700 7-16d by sail and 9-16d by steam. There has been, icrease however, so little going for several weeks past that trademour quotation for the last two months are nominal. Cotton to Havre has ranged from Mc up to 11-2c, and Rebacco to Liverpool at 30s R hhd up to 47s 6d. The business supply of tonnage has been generally equal to the of 18 demand, and the market has continued quiet 1-2c,in 0 Deceme throughout the year.