7544. Bank of America (New Orleans, LA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
September 16, 1861
Location
New Orleans, Louisiana (29.955, -90.075)

Metadata

Model
gpt-5-mini
Short Digest
d1342316

Response Measures

None

Description

Bank suspended specie payments on Sept 16, 1861 by unanimous board resolution adopting the Governor's proclamation (government action). By June 11, 1862 the bank had commenced resuming specie payments (reopening). No run is described in the provided articles.

Events (2)
1. September 16, 1861 Suspension
Cause
Government Action
Cause Details
Board adopted the Governor's proclamation recommending suspension of specie payments for New Orleans banks.
Newspaper Excerpt
the Proclamation of the Governor of this State recommending the suspension of specie payments by the banks of New Orleans... Resolved, That the Bank of America accedes to the recommendation of the Governor, to suspend specie payments forthwith on all its liabilities
Source
newspapers
2. June 11, 1862 Reopening
Newspaper Excerpt
Some of the banks are, we understand, preparing themselves for the resumption of specie payments, and, in our columns, the Bank of America announces that this important step has been already taken by that hitherto very successfully administered corporation. To-day the Bank of America has commenced paying off its liabilities in specie in the following order ... (True Delta, June 11, 1862).
Source
newspapers

Newspaper Articles (11)
1. September 19, 1861 New Orleans Daily Crescent New Orleans, LA
Article from New Orleans Daily Crescent, September 19, 1861

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BANK OF AMERICA, New Orleans, Sept. 16. 1861. At a called meeting of the Board of Directors of this Bank, held this day. the President laid before the Board the Proclamation of the Governor of this State. recom mending the suspension of specie payments by the banks of New Orleans, with the object and under the regulations Therein set forth. Said Proclamation was read ; whereupon, it was unanimously Resolved, That the Bank of America acceeds to the recommendation of the Governor, to suspend specie payments forth. with on all its liabilities, and that the regulations proposed by his Excellency in his Proclamation, for the government of the several banks dering the suspension, be and arehereby adopted. sel7 tf A. M. FORTIER, Cashier.

2. September 23, 1861 New Orleans Daily Crescent New Orleans, LA
Article from New Orleans Daily Crescent, September 23, 1861

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DANK or 21EIICA New Orleans, Sept. 16. 1861. At a called meeting of the Board of Directors of this Bank, held this day, the President laid before the Board the Proclamation of the Governor of this State, recom mending the suspension of specie payments by the banks of New Orleans, with the object and under the regulations 1 herein set forth. Said Proclamation was read ; whereupon, it was unanimously Resolved, That the Bank of America acceeds to the recommendation of the Governor. to saspend specie payments forthwith on all its liabilities, and that the regulations proposed by his Excellency in his Proclamation, for the government of the several banks during the suspension, be and arehereby adopted. A. M. FORTIER, Cashier. se17 tf

3. September 24, 1861 New Orleans Daily Crescent New Orleans, LA
Article from New Orleans Daily Crescent, September 24, 1861

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BANK OF AMERICA, New Orleans, Sept. 16, 1861. At a called meeting of the Board of Directors of this Bank, held this day the Pre-ident laid before the Board the Proclamation of the Governor of this State, recom mending the suspension of specie payments by the banks of New Orleans, with the object and under the regulations herein set forth. Said Proclamation was read ; whereupon, it was unanimously Resolved, That the Bank of America acceeds to the recommendation of the Governor to suspend specie payments forthwith on all its liabilities, and that the regulations proposed by his Excellency in his Proclamation, for the government of the several banks during the suspension, be and arehereby adopted. se17 tf A. M. FORTIER. Cashier.

4. September 25, 1861 New Orleans Daily Crescent New Orleans, LA
Article from New Orleans Daily Crescent, September 25, 1861

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BANK OF AMERICA, New Orleans, Sept. 16, 1861. At a called meeting of the Board of Directors of this Bank, held this day, the President laid before the Board the Proclamation of the Governor of this State, recom mending the suspension of specie payments by the banks of New Orleans, with the object and under the regulations therein set forth. Said Proclamation was read ; whereupon, it was mummmously Resolved, That the Bank of America acceeds to the recommendation of the Governor, to suspend specie payments forthwith on all its liabilities, and that the regulations proposed by his Excéllency in-his Proclamation, for the government of the several banks during the suspension, be and arehereby adopted. se17 tf A. M. FORTIER, Cashier.

5. September 27, 1861 New Orleans Daily Crescent New Orleans, LA
Article from New Orleans Daily Crescent, September 27, 1861

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BANK OF AMERICA, New Orleans, Sept. 16, 1861. At a called meeting of the Board of Directors of this Bank, held tins day. the President laid before the Board the Procination of the Governor of this State, recom mending the suspension of specie payments by the banks of New Orleans, with the object and under the regulations therein set forth. Said Proclamation was read ; whereupon, it was unanimously Resolved, That the Bank of America acceeds to the recommendation of the Governor to suspend specie payments forthwith on all its liabilities, and that the regulations proposed by his Excellency in his Preclamation, for the government of the several banks during the suspension, be and arehereby adopted. sel7 if A. M. FORTIER, Cashier.

6. May 30, 1862 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, May 30, 1862

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alone, we dare to raise the velce of condemnation against the second spoliation meditated by these corrupt and unprincipled corporations. On the memorable day of Bank dishonesty, the 16th of September, 1861, when the banking concerns of this place with the exception alluded to, declared their doors oclosed against the just claims of bill-holders, and with an effrontory without precedent, undertook to paste in the pass books of their cepositors a notice to the effect that the deposite them due would be paid to each and all on the resumption of specie payments, provided that the same had not been previously drawn for, we implored them to pense in the flagitious work, and not ruin this community by their insane infidelity to every honorable duty. We pointed out the heinousness of the pase-book notice, which claimed the use of depositors' money at the pleasure of the banks without interest, and we protested acainst an act which only the ples of national necessity and national relief could possibly or reasonably justify. Had the money of which this people was thus defranded been taken for the support of the revolution, the conduct of the banks would not, as we maintained at the time, have been justifisule, although the people would doubtless have approved it; but they pre-cipitated bankruptcy for no object conceivable to educated or opright minde, and now they avail themselves of the order of Gen. Butler to consummate their wickedness. The banks were even in advance of the popular disposition in the revolutionary cause; but we have yet to hear of sny unusual sacrifices their directors have made out of their own pockets for the support of the cause. It is a remark bie fact, too, that on the morning of their suspension they all seemed to possess an unlimited supply of that Confederate paper they then forced the public to receive, and of which they now set the first example of repudiation. We neither approved their first operation nor this of repudiation, their last; nor their la-termediate endeavors to put their property by every species of contrivance, beyond the resca of its legitimate owners. There are principles of right and justice so incontrovertibly obvious and supreme that no law or code, civil or military, can ignore or deny them; and such principles are now in-volved in the monetary affairs of this people. If one military power can absolve banking institutions from the redemption of their obligations solemnly guarantied, and another eaables them to complete the iniquitous work in the way most con-ducive to their own interests, any country under Heaven would be a paradise of justice compared to such a place. But we have no apprehension of any such resuit. and we would advise the banks not to presame too far upon the pe-tienae, good nature and forbearance af this public. If the po-sition they assume be sustained, revolution will be the chronia condition of every American commonwealth. If banks aud bankites are to be the only parties in social conflicts who are surete make a profitable business of such work the key te their boisterous patriotism is furnished. And that this view of their prospects is the one entertained by the public the following published statement of a sale of some ne of their stocks on Saturday last, will indisputably confirm. The sale is publiated as that of Palfrey & Co. Bank of New-Orleans.... $107 Crescent City Bank $00 Mechanics Bank. 121 Union Bank 110 Louisiana Bank.. 221 Citaens' Bank 209 Merchants' Bank.. 102 Baok of Americs... 198 This result will surprise no one who has watched the course of these institutions. They first procure the suspectsion of specie payment, under a patriotic pretext wholly beyond any human being's perceptions of its necessity. Then, avaiting themselves of the public necessities, they cause the price of foreign exchange, of which they have a monopoly, to advance two or three hundred per cent; seil bonds bought under ex-trenfe depression, or below par in every instance, for two or three times their nominal value; place their specie in hiding places unknown and insccessible except to themselves and their agents, and now undertake to close in a grand finale of cheatery by paying off in a currency they themselves com-pelied the people to accept, both the old cash deposits of the latter and all their accretions since the memorable epoch of suspension! They first force Confederate paper into circulation, and proit enormously by the operation, and then depreciate it by repudiation after it has been made to serve their sordid and dishonest purposes. In these proceedings the people will see the clue to the motive of these bank men in pusning this State into the issuance of war bouds in such toordinate amounte They wanted to make of the State credit a sponge for the ab-sorption of the surplus Confederate paper in their hands, and so nicely have they made their calculations, that at this mo-ment every device is in requisition to obtain even the Confed-erate bills necessary to meet the demand of resens depositors! We have no concealments to make in presence of Federal or Confederate authority; our record has no stains upon it; is enallenges examination We never hesitated, during the pe-riod to which we are referring, in proclaiming our opicion that, if the Richmond Government deemed the specie in the banks of this city absolutely indispensable to the revolution-ary cause, to which the country had committed itself, it was competent to it to take it. This we admitted, qualifying t however, er, with the opinion that to take unduly from one por-tion of the people, or to burden one class of citizens dispropor-tionately in this or any similar or dissimilar mauner, was an act of oppression for which extreme necessity only, which overrules all law, could be a justification. THURSDAY May 29, 1862. Markets-CAREFULLY REPORTED FOR THEN. Y. TRISCES ASHES are in improved demand, and the market is firm; antes of 50 bbis. Pots at $5 75, and 60 do. Posris at $6. COTTON-The advices from New Orleans to-day have been rather unfavorable to the prospects of speculators, and as thه manufacturers who were in the market have, in a great meas-ure, supplied themselves, the business has been less scrive, and at the close prices are heavy-31c. for Middling Uplands is quoted, though one or two lots sold a trifle below this figure. Sales of 900 bales. COFFEE-We hear of no sales in any description, and prices are nominally unchanged. FLOUR AND MEAL-The demand for Western and State Flour is less active, owing partly to the absence of a good as-sortment of Extra State, which is preferred to Western by shippers. The medium grades are insctive and quite irregu-lar: Trade" brauds aro quiet yet steady; the sa es are 12, 100 bbis, at $4 250 $4 40 for Superline State and Western; 455 @$480 for the low grades of Westera Extra; $45506465 for Extra State; $470@$480 for fancy do.; $500/520 for shipping brands of round-hoop Extra Ohio, and 35 36 66 25 for trade brands do. Canadian Flour is less abundant dand is quiet; the arrivals are moderate and consist mainly of the better grades; sales of 850 bbls. at $4 552 $4 75 for ship-ping brands of Spring Wheat Extras, and $4 802 $6 25 top Extras Southera Floar is in fair demand, especially good and choice Extras, but the low grades are dull yet steady ta price; sales of 1,630 bbls. at $5 100 +5 70 for wixed to go Superfine Baltimore, &c, and $5 75256 75 for trade brands ado. Rye Flour is steady and in fair request; sales of 260 bbia. at $2 152 64 05 for Superfine and Extra. Corn Meal is in moderate request and steady; sales of 400 bols. at $290 for Jersey, and 63 15 for Brandywine. GRAIN-The Wheat market is less active, and though the receipts are less liberal, prices of most kinds are 122e bush. lower, except prime, which is scarce and wanted; the inquiry is mainly for export, and notwithstanding the decline in the rates of freight, prices favor the buyer at the close; the trans-actions include 191.000 bush.. consisting of 46,000 do. Chicage Spring at 850.@$1; 60,700 do. Milwaukee Cub 90.@+1; 36.300 do. Amber lows at $102@$1 04: 12.400 do. North-Western Club at 870.@$1; 17.6% do. Red Western at $108@$1124, the inside rate for foul, and 17,700 do. Amber Michigan at $1 15@$118. Barley and Barley Mait are less active, but prices are unchanged. Onts are scarce and a shade firmer: salemof Canadian and Western as 3422440, and State at 44@44jc. Rye is in fair demand, and is of firmer; sales of 6,700 bush. at 6320ije, for Wes eru and 70e. for State. Corn is less active, and a shade easier, the demand alis mainly for the East; sales of 73,000 bush. at @4io. for new Mixed Western, and 4712 48te. for old do. HOPS are steady and in moderate request; sales of 100 bales e New at 14 @18c., as to quality. HAY-The supply is larger, and the market is heavy; sales e of 900 bales at 602650 100 1b. MOLASSES-There has been a moderate inquiry for home nee, and prices are maintained; sales of 45 hids Porto Rico eat 372 127 do. Cuba Mu covado at 272., and 60 do, at 3 je. NAVAL STORES generally are quiet, but prices are well maintained, sales of 100 bols. Common Rosin at $7 15, and e 100 do. No, 2 at 8252$350 280 10. OILS The market is inactive for most kinds, and prices are without essential change. PROVISIONS There has been only a moderate inquiry for Pork, and with continued large receipts the market is heavy sles of 700 bbls., at $12 25 for less, $12 for Unta-espected Mess, and $9 621@$975 for Prime Beef is inse motive, and priors are beavy; sales of 175 bbla, at $1225@$19 50 for Fisin Mesr, and $14@$14 87 for Extra do. Bacon is doll, and we have only to notice sales of 36 boxes Short-ribbed Western, at 44c. Cut Meats are in good request, at about me former rates: sales of 900 boxes, tes, aod hhds, at 31 @ijo. for ar Shoulders, and 44@5jc. for Hams. Lard seils only to a mod-erate extent, without material change, in prices; sales of 500 bois, and tes, at 7428jc, the inside rate for quite dark. RICE-Carolina is quiet, but holders stil demand full for at mer rates; East sells moderately at steady rates; 300 bags Rangoon were taken at 50ője. SUGARS-The sales of itaw to-day are very fair, being chiefly to refiners and city grocers, and prices are still main-dtained. The transactions embrace some 200 ahds. Porto Rico at 70810.700 Cuba at 747jc.; 37 bxs. Havana at The, and 13.500 bags Mantila at 70. SEEDS-Rough Flax Seed is in fair demand, and the mar-ket is firm at $2 1002 30 bush. Clover Seed is quiet at y 6. @ite. Timothy Seed is in fair request at $1750$ bush. TALLOW is in good demand, and holders are firm; sales of 520,000 15 Prime City at Dc., cash. Rough Fat is in fair request at 6c., essh WHISKY-A. very fair demand prevails, and prices are a

7. May 30, 1862 The New York Herald New York, NY
Article from The New York Herald, May 30, 1862

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If we sell our andize to the federals and receive payment in specie, or approved currency, whatever ad vantage they derive from the trade, we receive ponding one in return If we decline to deal with them, they seize our goods and enjoy the whole benefit without any equivalent to us. In the one case it is not only no injury, but substant tial benefit to us. and but little ad. vantage to them. In the other they enjoy the whole benefit and we suffer total loss Whatever may be pugnance to any intercourse or dealings with them, we do not see that either judicious expedient thus to reject their money in payment of goods. which we presame they will seize and take off without compensation, if we refuse to receive it. The State of Finances in New Orleans. LATEST MONETARY REPORT. OFFICE NEW ORLE TRUE DELTA NEW ORLEANS May 17 1862 The past week has been arked by increasing activity in the stock market. and by the promulgation of an im portant order by the Com handing General of the fed forces for this military department, touching the bank misce and the Sales of of rency city stocks transpired daily fabulous figures, and opera tions this class of securities were restricted only by the limited character ot the supply but particulars of as heretorore, most negotiations were, scrupuprivate lously suppressed for the time. though transactions to public auction were on a safficientl extensive scale indicate the ruling prices of the market There was nothing done in bonds from the opening to the close of the week, and there were no offerings of any class upon the market, so far as we have thus far been able to ascertain. General Butler's order on the currency question prohibits the city of New Orleans and the banks thereof from exchanging their notes. bills or obligations for Confederate notes. bills or bonds, and from issuing any bills, notes or obligations payable in Confederate notos. And it further ordains that on the 27th inst. all circulation of or trade in Confederate notes and bills will cease within this military department and all sales or transfers of property made on or after that date, in consideration of such notes or bills, will be void, and the property confiscated to the United States. The order which the above is the substance was first published this morning, and it has already caused almost a panic among the holders of Confederate securities Treasury notes have been sold to-day at heavy sacrifice, and those possessed of no other currency will doubtles be npelled accept for At them just whatev speculators may wish to offer the same time it is wholly unknown what currency Gen Butler designs substituting for them. though freely conjectured that it will be United States Treasury notes. Should this opinion prove correct. much suffering must arise from the absence of small change, as the numero mouths shinplasters several have been which for past freely used to meet all the requirements of trade for fractional parts of dollar sums under five dollars. have been almost exclusively based upon Confederate latter and the necesthe must of suppression currency sarily rendor the former valueless and therefore useless to the public. We presume only necessary to re spectfully invite General Butler's attention to the calamities likely to arise from the transition in the cy and that he will be able to devise some plan to shield the thousands of deserving poor in our city from the inevitable losses which would arise from suspension of the small note circulation till substitute be in readiness to meet the demands for provisions and other indispen sable necessaries Operations of every kind have continued at stand in the outside money market since the date of last weekly review and the bank movement has been re stricted as heretofore, to the payment of depositors checks and the liquidation or renewal of maturing obli gations. Transac tions in specie progressed as for some for for rates but in exchange weeks past, Confederate notes and for bank and city bills have studily ge of advanced. exchar have been limited to Offerings small amount of sterling bills. but no sales have been of to the week. close Receipts up the uncurreported of rent bank notes have been, if anything still lighter than heretofore, and negotiations were of too restricted a character throughout to establish reliable quotations. [From the True Delta of May 19.1 THE CURRENCY PROCLAMATION We have not had the requisite leisure to reflect fully over the proclamation of Major General Butler in rela tion to the currency, but so far as the bauks are con cerned we can perce ve no objection to their substit of their own paper in payment of deposites in every case, up to the present time. The presidents and directors of those titutions are too honorable and patriotic to dishonor the currency they were so anxious to intro duce to the public. and we are sure they will cheerfully aid in facilitating change of currency which cannot be otherwise than distressing to many members of the community We are not among those who doubt the patriotism or disinterestedness of banking institutions. THE "SOLID" MEN OF THE CRESCENT CITY PROVIDING CURRENCY. A [From the New Orleans Bulletin, May 20.] TO NOTICE PUBLIC. THE The undersigned parti complied with the re solution of the Common Council 6,027, and placed their securities in the hands of the Treasurer. the public are that the informed of issue small hereby notes said of parties will be redeemed at the City Treasurer's office, commencing on Wednesday . 21st inst. The Treasurer would respectfully request parties having considerable and sums notes, these small of means the of holding them for a few days, to do so: under the assurance that redeemed as will be they as carly possible. and by this means give chance to the poor people who have them in small amounts, and require for their daily sustenance, to be relieved first He also assures merchants and others that they may take them for their merchandise in safety as the parties have lodgdd abund ant security for their redemption and bound themselves to make no further issue:- Thos Payan & Co. D. H Holmes, Joseph Santini. B. Miller & Co., William Wil liams, Dan. Edwards & Son Adam Wagner G W Lehde Beals & Miller. Holtzel & Zoelly Cresan & McMil Ian,J.&J C. Davidson. C. W Cammack Metz & E. Hacker. Haggerty Brothers. James Cosgrove H. E. Law. rence on P Cazenave, Henderson & Gaines. Goo. W Gre gor & Co ADAM GIFFEN, City Treasurer. THE EFFECT OF GENERAL BUTLER'S ORDER NO. 29 ON THE CITY TREASURY AND THE BANKING INSTI TUTIONS. [From the New Orleans Bulletin of May 20.) NOTICE TREASURER'S DEP ARTMENT. NEW ORLEANS May 19 1862 To all collecting agents for the city, such as the City Attorney, Assistant City Attorney Rego ders, Pound Keepers Jail. Prison. orkhouse Insane Asylum and Houses of Refuge Keepers you are hereby notified to settle up your accounts with the city by Monday, the 26th, after that time no confederate money can be received from them ADAM GRIFFEN. City Treasurer. BANKING HOUSE OF JUDSON & Co. NEW ORLEANS May 19. 1862. All parties having deposits of Confederate notes with us are hereby notified to withdraw them prior to he inst. Such balances as may not be withdrawn will be considered at the risk of the owners and held subject to their order. JUDSON CO., & Corner of Camp and Canal streets. BANKING HOUSE OF SAM' SMITH & Co., NEW ORLE EANS, May 19 1862. All persons havin: deposited Confoderate notes in this banking house are notified to ithdraw them before the 27th inst. Such balances as may not then be withdrawn will be considered at the risk of the owners. SAM'L SMITH & CO. New ORLRANS CANAL AND BANKING COMPANY. NEW ORLEANS, May 20 1862. Parties having deposits of Confederate notes in this bank are hereby notified to withdraw the same previo to the 27th inst. A! balances resulting from such deposits as shall not then have been ithdrawn will be at risk of said parties. By order of the Board A. H. KERNION. Cashier. BANK OF AMERICA. NEW ORLEANS May 19 1862. All persons having deposits of Confederate notes in this bank are notified to withdraw them by the 25th inst. Such balances as may not be then withdrawn will be con. sidered as the risk of the owners C. CAVAROC. Cashier pro tem. LOUISIANA STATE BANK, New ORLEANS. May 17,1862. Parties having oposited Confederate notes with this bank are requested to withdraw the same before the 27th inst all dealing in them thereafter is prohibited. All balance of said deposit not withdrawn will be the risk of the depositors. By order. L. BERNARD Cashier. MERCHANTS BANK, NEW ORLEANS. May 19, 1862. This bank is prepared to pay balance in Confederate notes, which must be drawn flefore the 27th inst, WM. S. MOUNT. Cashier. UNION BANK OK LOUTHIANA New ORLEANS, May 17,1862.

8. June 19, 1862 Worcester Daily Spy Worcester, MA
Article from Worcester Daily Spy, June 19, 1862

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Second Mail from New Orleans. NEWS TO JUNE 11TH. The steamer Ocean Queen arrived at New York, Wednesday, with a heavy mail, and dates to the 11th inst. Mrs. Gen. Butler, Pierre Soule, and the sheriff of New Orleans, A. Marzareau, were among the passengers. The charge against Mr. Soule is not stated. but it is asserted that he was so intimately associated with the secessionists of New Orleans-apparently acting as their leader-as to render him a particularly dangerous man. Sheriff Marzareau was charged with countenancing recent projects of the secessionists. Both will be taken to fort Warren. The following interesting extracts are from a private letter dated New Orleans, 11th, published in the New York Evening Post:CONDITION OF THE CITY. The exports from here are almost entirely confined to sugar and molasses, which is given in exchange for the absolute necessaries of life. So stringent has the blockade been at this port that for several consecutive days the entire city was without bread-the rich and poor alike. The Lieut. Blackstone brought the first cargo of flour, and it is to be sold at auction to-day. The maximum price heretofore was twenty dollars per barrel, United States money, fixed by General Butler. The currency of the city consists of broken bank bills reprinted on the backs, aud cut in half, making two bills of one; omnibus tickets, railroad checks and pieces of cards of fall kinds. There was a Union flag raised on the City Hall on Saturday, amidst some enthusiasm and much fear by many who wish our cause success but dare not encourage us, as the life of a resident is worth little who dares advocate Union. As yet the city is held by fear, but it is thought that a few days will make a great change in our favor. The residents of the city despise Lovell for running away, and the country people despise the city folks for letting him run without an effort to prevent the landing of our forces. I have heard many' men and even ladies speak very indignantly against what they call the "runaway clerk of a runaway street commissioner." They say his horse made the best time of any in the regiment. Business seems to be gradually reviving. The latest papers contain columns of "wants," announcements of arrivals of goods from the north, and advertisements of the resumption of travel to New York, Minatitlan, and Red river. Gen. Shepley, military commandant of New Orleans, has taken the city contractors in hand, and holds them to their contracts, thus providing for the cleanliness, and consequently the health, of the city. RESUMING SPECIE PAYMENTS. The gratifying intelligence of a resumption of specie payments by the banks of New Orleans is thus conveyed by the True Delta of the 11th: "Some of the banks are, we understand, preparing themselves for the resumption of specie payments, and, in our columns, the Bank of America announces that this important step has been already taken by that hitherto very successfully administered corporation. Thisi as it should be, and is very commendable. Our views on the currency question have been so frequently given in these columns since the stupidly dishonest suspension of September, that it would be superfluous now to reproduce them: but we may with propriety ask, what earthly good can accrue to any bank or any individual by an obstinate resistance to proceedings that can neither be set aside or disregarded? Is there a banking institution in New Orleans so senselessly conducted as to suppose that the interests of the community must be ever made subservient to its own, and that its profits, legitimate or illegitimate, are the only considerations that must be allowed to have weight or importance?" ITEMS. Gov. Andrew of Massachusetts is sharply criticised by the Picayune, which paper talks of his "fanaticism, folly, and freakishness," and is rather bothered by his summary proceedings. The Picayune also denies that the yellow fever has made its appearance, and that Col. Moody was hung in front of his store. There was no fever, and Moody was alive and well. Gen. Williams' brigade is up the Mississippi river. The 31st Massachusetts, 13th Connecticutt, and 13th Maine regiments are in New Orleans. The health of the soldiers is excellent.

9. June 19, 1862 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, June 19, 1862

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ing in relation to Lake Superior copper-mining stocks: f The principal copper companies, we understand, have a withdrawn their copper from the market for higher prices, and the stock on hand lighter than it has been for years; stocks have not felt the influence of it much as yet; copper Minnesota has advanced 10 ₽ share, and is in demand 69. is influenced by 8 declaration of a five-dollar dividend and 4 but financial position better than has been anticipated. National be has rallied from the decline, and the mine is understood to to its 0 looking better Pitraburgh. in its product, is returning 11 better days, and the stock is in demand at 55: Rockland is 9 Pewabic, Franklin and Quincy are firm at quot- less 0 improving and the mines are doing well. Isle Royal, with activity ations. than usual, is firm, and the mine is progressing. 4 Central has been the most active stock on the list. but The the 2 impression seems to be that it has advanced too rapid Hancock and Huron mines, it is said, are doing remarkal 2 well. From the Southern papers we annex the following 8 extracts. The Money article of The True Delta of 2 the 11th says of trade and finance: Nothing has occurred in financial circles since our last to materially alter the condition of the market and business of 13 every kind still progresses in an exceedingly languid and un5 satisfactory manner. There were no commercial or mortgage securities to be found at any time in the hands of sellers, and full 28 the bank movement was almost exclusively restricted to 8 partial renewals of maturing obligation. while transactions or in specie and uncurrent money were, if anything, still smaller to than heretofore, and operations in exchange were confined and trifling negotiations in sterling bills at 30 P cent premium, in franc# at 4 francs per dollar for city and bank notes. Stocks and bonds were almost wholly neglected throughout, but holders manifested no disposition whatever to press wales, and, in fact. operatora appeared to be as far the question of prices. No large lots of any description have changed hands from the opening of the week. or. at least. no particulars of any actual transfers have been made known have except those of 25 shares Bank of Louisiana stock, which 8 been reported at the reduced price of $110 per share. The money article of The True Delta of the 12th , says: . 0 To-day the Bank of America has commenced paying off its liabilitiesi in specie in the following order. viz: 1st. all deposi- not itors' balances on the 16th September. 1861. which have been since withdrawn; and.2d. all notes of the bank known and 5. its issue. which were signed by the State Auditor. to as prior date to May 1862. We have been unable ascertain bear a the exact amount of the present liabilities of the (8 but according to the official returns to the Board of Curbank, the aggregate deposits of the 14th September, 1861, footed rency. up $884,408 and the total circulation at the same date 1 reached $174,090. The Picayune says: or We understand an angement, under sufficient guarantees and approved by the military authorities. has been entered les e into for the supply of bills of email denomination not 8 than #1 nor more than e each. This will obviate any in convenience to which the public might be subjected from B scarcity of small change The following interesting extracts are from a pri8 vate letter dated at New-Orleane on the 11th inst. The exports from here arealmost entirely confined to sugar and molaskes, which re given in exchange for the absolute necessaries of life. So stringent the blockade been at this port that for several cons cutive days, the entire city without bread -the rich and poor alike The Lt. Blackstone brought the first cargo of flour, and it is to be sold at auction day. The maximum price heretofore was $20 per barrel. of United State* money. fixed by Gen. Butler The currency the city consists of broken bank bills -reprinted on the backs and cut in half, making two bills of omnibus tickets, railroad checks, and little pieces of cards of all kinds From The London Econo of the 7th. STATE OF THE CORN TRADE FOR THE WEEK. MARK LANE FRIDAY EVENING -Although only limited quan e tities of home grown wheat have beer on sale in the leading markets of consumption held this week. the demand both or red and white qualities has continued in a sluggish state, and r in some instances the currencies have had 8 drooping tenden ey. At the outports, foreign wheats have moved of slowly, t, at about stationary prices. The few samples of English ba: ley on offer have sold at about previous rates; but inferior e foreign has given way 6d. to 1/ P quarter. No actual change te has taken place in the value of mait. Brewers, however, have operated cautiously. Owing to the great abundance of W pasture food, oats have met a dull Inquiry, and inferior parcels have ruled in favor of buyers. Both beans and peas have sold y slowly, on formerserios No quotable change has taken place If in the value of flour. but low qualities have been difficult of sale. a The following is taken from the circular of Messra. Sturge, t, of Birmingbam If we except the few days at the begin ning and close of last month, during which between five and 0. six inches of rain fell. the weather may be said have been very favorable for all kinds of growing crops, although still marked by the absence of sunshine which has been the pecu list characteristic of the season, and has prevented vegetation re from becoming unusually forward. The wheat on the clay soils, where it had suffered from the rainy Spring haw now much improved yet we think the produce cannet exceed an average in the districts, and unless the weather for blossoming a. is very fiue it will be decidedly less. The reports of the of growing crops in France are generally favorable, though the Southern departments. like Italy, have suffered from drouth, but s the prices of wheat in the French markets have not ! suffered 80 much as in ours, it would appear that nearly the whole of their large importations will be required before the of new crop is ready for use. We believe the stock held by English farmers, dealers, and millers to be unusually light: in fact, every one seems to look al forward to a low range of prices, and provides accordingly. This may be said to be a season when the expectation is not al so likely to be realized, and, judging by the course of the grain market for the last twenty years, there another dear season due to US. The number of grain-laden vessels on pas8 sage from the East is only 390, or less than we remember at this season for some years past. This seems chiefly attrib. e utable to the large arrivals last month, many of the Vessels e having made much quicker passages than usual. The Scotch markets, though scantily supplied have been heavy for wheat, at about stationary prices. Barley and all other spring com have ruled about stationary. Flour has been chiefly in retail parcels. of In Ireland, fine wheat, barley, and oats have moved off steadily at full quotations. Otherwise, the trade have ruled 18 very inactive. The shipments of food have not increased. At Mark Lane, to-day. the show of English wheat was small, and the trade, on the whole ruled steady at full prices. In foreign wheat, a limited business was transacted, yet the quotations ruled firm. Barley and oats moved off slowly, at 60 late rates. The supply of bams and peas being limited their value was supported In flour, sales progressed slowly, on former terms. Markets-CAREFULLI REPORTED FOR THEN. Y. TRIBUNE WEDNESDAY, June 1862. 2 ASHES are steady and in request: sales of 50 bbls. at

10. June 19, 1862 The New York Herald New York, NY
Article from The New York Herald, June 19, 1862

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The Latest Monetary and Financial Report. [From the New Orleans True Delta, June 11.] Nothing has transpired in financial circles since our last to materially alter the condition of the market, and business of every kind still progresses in an exceedingly languid and unsatisfactory manner. There were no commercial or mortgage securities to be found at any time in the hands of sellers, and the bank movement was almost exclusively restricted to full or partial renewals of maturing obligations, while transactions in specie and uncurrent money were, if anything, still smaller than heretofore, and operations in exchange were confined to trifing negotiations in sterling bills at thirty per cent premium, and in france at four francs per dollar for city and bank notes. Stocks and bonds were almost wholly neglected throughout, but holders manifested no disposition whatever to press sales, and, in fact, operators appeared to be as far apart as ever on the question of prices. No large lots of any description have changed hands from the opening of the week, or, at least, no particulars of any actual transfers have been made known except those of twenty-five shares Bank of Louisiana stock, which have been reported at the reduced price of $110 per share. To-day the Bank of America has commenced paying off its liabilities in specie in the following order, viz: 1st-All depositors balances on the 16th September, 1861, which have not been since withdrawn; and 2dAll notes of the bank known as its old issue. which wore signed by the State Auditor, and bear a prior date to May 21, 1862. We have been unable to ascertain the exact amount of the present lis bilities of this bank; but, according to the official returns to the Board of Currency, the aggregate deposits on the 14th September, 1861, footed up $884,405, and the total circulation at the same date reached $174,090.

11. August 11, 1862 The New York Herald New York, NY
Article from The New York Herald, August 11, 1862

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der the existing depression of finance and trade. There is no real money in circulation. There is representative money of a local character, which, it is presumed answers all necessary purposes. There are some United States Treasury notes; but they are, like the gold and sil ver, considerably above par, or the standard of surrency. There were advices received to-day from New York quoting gold on the 15th inst. in that market at 116 a 117, and sterling exchange at 128 1/2 a 129 1/6. Money in the open market was quoted at 5c. a 6c. on first class securities. We have nothing to remark on our local market. In and about the banks it is quiet; a few deposits are made and some transactions in sugar going on. There are a few deposits made daily, with renewals on maturing obligations acceding. We have nothing to quote in regard to gold and silver. Gold commands 125 a 130, United States demand Treasury notes 120 a 125, legal tender notes 108 a 111, exchange on New York at sight, 7 1/2 a 10 per cent premium; time bills, sixty days sight, DO demand. They might be forced off ut par to three per cent premium for the highest grade of signatures, though there have been transactions in bills of lading drafts; but we are not advised of the rates. Our banks say they are doing nothing in time bills, nor are they doing much in demand bills. We are informed that our banks which held balances in favor of the Confederate States, or to the credit of the Confederate Treasury, have paid the amount-it being remitted to Mr. Cisco, United States Treasurer at New York, a few days since. It amounted to $258,000. We do not learn of any movements in foreign exchange. There is a small supply of francs on the market at from 4.20, 4.10 a 4-the latter for bank drafts. As for sterling, it is difficult to raise a quotation-we might quote 135 140, as covering small sums for remittance. The produce now going forward to England has been paid for long since, and, of course, the shipments furnish nothing for a basis for exchange transactions. The most important sale which has transpired for months past was the sale of real estate belonging to the succession of the late Philip Avegno. The amount of the property sold, as per bids, was $370,000, on the usual terms-say one-third cash, the balance at one and two years' credit, with interest at the rate of six per cent from date. We append below the statement of the banks. as made on the 21st inst., and also the statement of the 19th of last, the last previous to the change of government. The specie reported by the several banks covers the amount sent away during the weeks ending the 19th and 26th of April. There are only two banks-the Citizens' Bank and the Bank of America-which have the amount reported actually in vault. The Southern Bank, never having suspended coin payments, has no debts to liquidate beyond its circulation, which, we learn, will be paid on presentation in specte. It will be observed that within the short space of ninety days the deposits of the several banks have been reduced from $28,692,872 to $10,132,268. To carry out this very great reduction the circulation has only been increased $2,877,907. The statements before us are made up to the 21st inst., and our banks W old be, If the specie represented was in vault, or within control, in the very strongest position. The payment to depositors of $18.560,000 within ninety days ofiers room for many remarks. for which we have not space, at this time, to comment on. The True elia of the same date says:Financial movements have been of a very restricted character since the close of our last review, and the mus ket still presents an exceedingly langund and monotonous appearance. There is no business progressing in other commercial or mortgage securities, and operations in all olasses of stocks and bonds appear to have come to a complete stand-still, while transactions in uncurrent bank notes are confined to unimportant exchanges of the issues of other Southern States, and all descriptions are still subjected to a reduction of 25 a 40 and 50 per cent discount. Commercial News. The Delta of the 26th ult. has the following commercial intelligence:RECEIPTS FROM THE INTERIOR. Baton Rouge-Per steamer Morning Light-73 bales cotton. to order. Vicksburg-Persteamer Iberville-229 bales cotton, 150 hbds. sugar, to order. Vicksburg-Per steamer Ceres-158 hhds. sugar, to order. Baton Rouge-Per steamer Bee-7 bales cotton, 4 bags do., 7 boxes merchandise, to order. RECEIPTS FROM THE COAST. Per schooner Renaissance-64 bbls. molasses, to order. Per schooner Sister Kate-100 hhds. sugar, to R Brugier. Per schooner Adeline-102 sugar, to order. Per sloop Ellen-66 bbin rum, to T Lanoux. Per schooner Tiger-73 bbls. molasses, to Lapene & Ferre. Per sloop Balona-30 hhds. sugar, to J. Labatat. Per Russell's boat hhds sugar, 20 bbls. cistern sugar, to order.