7561. Bank of New Orleans (New Orleans, LA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 1, 1873
Location
New Orleans, Louisiana (29.955, -90.075)

Metadata

Model
gpt-5-mini
Short Digest
816dded2

Response Measures

None

Description

All three articles refer to the Bank of Louisiana being placed into bankruptcy and its assets sold by assignees/receiver (court order dated March 1, 1873). No run or depositor panic is mentioned. The user-provided bank name ('Bank of New Orleans') does not match the articles, which consistently discuss the Bank of Louisiana; I therefore used the Bank of Louisiana as the subject. Evidence shows receivers/assignees and asset sales continued into 1874, indicating permanent closure under bankruptcy.

Events (4)

1. March 1, 1873 Other
Newspaper Excerpt
final order of the honorable the District Court of the United States of America for the District of Louisiana. sitting in bankruptcy, dated the first of March, 1873, will be sold by public auction the following described property ... THE BANK OF LOUISIANA, IN BANKRUPTCY.
Source
newspapers
2. March 1, 1873 Suspension
Cause
Government Action
Cause Details
Court bankruptcy order (District Court) placed the bank in bankruptcy leading to cessation of normal operations.
Newspaper Excerpt
IN THE MATTER OF THE BANK OF LOUISIANA IN BANKRUPTCY. United States District Court for the District of
Source
newspapers
3. April 26, 1873 Other
Newspaper Excerpt
ASSIGNEE'S SALE OF VERY VALUABLE SECOND DISTRICT PROPERTY. Comprising that large and substantial brick building known as THE BANK OF LOUISIANA ... will be sold by public auction, for account of said succession.
Source
newspapers
4. June 21, 1874 Receivership
Newspaper Excerpt
E. E. Norton and Ar. Miltenberger, Assignees. The Bank of Louisiana in Bankruptcy. ... The statement in the bankrupt proceedings of the Bank of Louisiana ... Total collected for the Bank ... E. E. Norton, Commissions for services as Receiver ... Ar. Miltenberger commission for services as receiver.
Source
newspapers

Newspaper Articles (3)

Article from New Orleans Republican, March 5, 1873

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Article Text

THE MATTER THE BANK OF LOUISIANA, IN BANKRUPTCY. District Court of the United States of America for the District of Louisiana-No. 1056. C. E. GIRARDEY & CO., AUCTION. b eers- Office No. 17 Exchange place. SATURDAY, March 22, 1873. at twelve o'clock M., at the Merchants and Auctioneers' Exchange. on Royal street. between Canal and Customhouse streets, in his city of New orleans, by virtue of a final order of the honorable the District Court of the United States of America for the District of Louisiana. sitting in bankruptcy, dated the first of March, 1873, will the sold by public auetion the following described property. to witthe CERTAIN SUGAR PLANTAT situated In parish of St. Martin at a place called Isle L'Abue, having about 1100 superficial arpents, fronting on said Isle Abbe and running back with diverging lines, bounded on the west or upper line bv lance lately the property of the auceo rssion of John Martin, and on the south or lower side by lands belonging the Fontenbettes, toge her with all the improvements thereon. Comprising in part as follows: A large, spacious and substantial brick Begar house, with Lowerful engines and sugar mill, machinery, cisterna, coolers, all complete: two Bel8 of kettlee; about dffeen negro cabins, eight built of brick; there are two houses with outbuildings, one of them nearly new. comfortable one story building with attic containing aix rooms. all having fire places built of brick, plastered; the other building is old. but very comfortable; besides stabarns, etc. The fo lowing descr ption of the property is taken from the report of Mr. Fred Durive, who was sent by the assignees in banki ptcy to examined it: In contorinity with your desire that I should visit Magili's plantation. in the parish of Sr. Martin, and examine carefully the condition of that property and report to you the result of my re mearches, I now state that 1 have conscientiously inspected the improvements and find them to be veryextensive and very subs antial. and, although they have been very much neglected, could recover all their efficiency by repairs a great deal less expensive than I would have supposed on reading the report that I found in possession of the bank. All the building+ having primitively been built with uch superior materials that time has produced comparatively very little decav, even 11 the external parts or the buildings- for instance, the roofs can, with very little expense. be made perfectly tight and by repairing and, in some cases, renewing a dezen posts supporting the out galleries of the sugarhouse and stables. which are both readly splendid constructions. these buildings would be secured for a long time gainst any successful degradation The engines and mill ae powerful and complete. Those parts that could have been taken away or affected by exposure have been carefully packed up and are lying in & safe part of the engine room. In a short time an engineer could clean and put the whole in running order. Th sugarhouse is immense and completely built of bricks, and the roof, like th se of al oiber buildi gs, is covered with shingles. The interior of the sugarhouse contains 16 substantia sould coolers (three of which were eut to a neighbor, Mr. Durand). There is a fine car. In very good order, to carry sugar from one end of the sug rhouse to the other end, mounted on a ail-the whole substantial and in good order. The mulasses cist rus are all of bricks and cement, and can accommodate 400 hogsheads of sugar. The eisterne are covered with W seasoned spars. The two sets of titles are well set and in very fine order, and ready for operations. It is through a large and valuable copier pipe that extends from the sugarhouse to the bayou. which :S situated about thirty yards from the engine, that all the wat+ required or the engine and engar is procured. Around the sugarhouse there are six large eisterne. in which all the rain water is gathered. There are 15 negro cabina-8 built of brick and 7 of wood-all requiring some repairs, specially to the roofs. AL a small expense they eas be madeavailable There are two houses on the place, with their outbuildings. One of them is a new. comfortable one-story building, with attic. containing His rooms all with tire-places. I is built of brick. and is we finished. The pla ter has suffered from the roots requiring repairs. A hundred shingles would make it tight. The of her but dung is old. but yet good. The lands are high, and of the very best quality. and are reported all over the country as requiring 1.88 labor than any other and producing more. There is sufficient timber on the place to last fifty years. Such. gentlemen, are the fict# concerning that valuable property, and ! may, without fear of being contradies red by result, say that of all the property offered or sale in the State, there is none offering a better chance of investment. Yours most respectfully FRED. DURIVE. Parties contemplating to purchase are respectfilly referred to the foregoing report and to an examination of the property itself. With the foregoing will also be sold TRACT OF LAND located under State WAP ant No. 86, the parachial section No. 15. of town. ship No. 10 south. of range No. : east containing 423.7 acres one half fractional section No. 10. same township and range, containing 76.80 actre and northeast quarter of section No. 14. same township and range. containing 162.36 acres, to eated under I ilitary land warrant No. 18,802. be the same more or less. The decree of the court ordering the sale of the above described property directs that the sant be freed from all incumbrances, and the assi. net acting as the office of the court will convey only such title as him vested by the assignment 1 bankrupley. and by the aforesaid order ot court Terms of Sales ash on the spot at the moment of the adjudication. and purchasers to assume pav ment over and above the price of adjudication et taxes which the property may owe up to the day of sale. Act of ale At the expense of the purchasers, before M. Geruen. otary public. mit 22 VALUAELEIMPE AND VACANT PROPERTY INFIFTHMISTRICT LATE ALGIERS SUCCESSION OF IEROMEICHANTE AND JKANNE Abraham his wife Mr. Marie Desiree Capdas tial vs. Mario le write. eb minor. Destrict Court for the parish of Odeans-


Article from New Orleans Republican, April 19, 1873

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Article Text

C. E. GIRARDEY & CO., NICHOLAS B J. Hoey, Auctioneer-Cfhce No. 17 Exchange place.-SATURDAY, April 26, 1873, at twehe o'clock M., at the Merchants and Auctioneere' Exchange, on Royal, between Canal and Customhouse streets, will be sold by public auction, for account of said succession, the following described property, to wite 1. TWO LOTS OF GROUND, in the First District of this city, in the square bouhded by Common, Banks, Miro and Tonti streets designated as lots Nos. 1 and 2, adj iningeach ot her, and running through the square from Common to Banks street; have fronts on each of said streets. All as per plan to beexhibited at sale. 2. TWO LOTS OF GROUND in the Fourth Dietrict, in the square bounded by Chestnut, Coliseum, Philip and First streets, designated as lots Nos. 17 and 18 adjoining each o:her, and measuring each 30 feet front on Chestnut street by 127 feet I inches 5 lines in depth. 3. SEVEN LOTS OF GROUND, in the Sixth District, in the square bounded by Bacchus, Apollo, Amelia and Peniston streets, designated as lots Nos. 10 to 16, adjoining each other, and measuring each about 29 teet 5 inches 6 lines front on Bacchus street, by 123 feet 2 lines in dep h and forming the whole front of said square on Bac hus street; let No. 10 forming the corner of Amelia. and lot No. 16 the corner of Peniston and Bacchus streets. Terms-One-third cash: remainder at one and two years' credit, in notes secured by special mortgage and vendors' lien. bearing interest of eight per cent per annum from date of sale until final payment, with the penal clau e of dve per cent attorneys' fees in event of suit to enforce payment, and purchasers to ar sume payment over and above the amount of their bids of all taxes for the year 1872, and up to the day of sale. Ac.s of sale, and United States stampe at the expense of the purchasers, before W. J. Castel mh23 ap5 12 19 26 notary public. ASSIGNEE'S SALE OF VERY VALUABLE SECOND DIS TRICT PROPERTY. Comprising that large and substantial brick build o ing known as THE BANK OF LOUISIANA, Forming the corner of Royal and Conti stretio AND THE THREW STORY BRI K DWELLING NFX? ADJOINING DESIGNATED BY THE NO. 50 CONTI STREET. IN THE MATTER OF THE BANK OF LOUISIANA IN BANKRUPTCY. United States District Court for the Dietriot of


Article from The New Orleans Bulletin, June 21, 1874

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Article Text

E. E. Norton and Ar. Miltenberger, Assignees. The Bank of Louisiana in Bankruptcy. How the Money Goes. Addition, Division and Silence The reputation of the universal Assignee in Bankruptcy for absorbing every estate that comes under his control is pretty well established. But we have before us such an instance of outrageous gouging as to justify us in exposing it. We regret to find connected with this transaction the name of a gentleman who occupies a respectable position in society and was once regarded as one of our most substantial and successful merchants. It is with reluctance that we parade the name of Mr. Miltenberger in connection with that of Norton in so questionable a transaction. But for the facts and figures: The statement in the bankrupt proceedings of the Bank of Louisiana, makes the following exhibit: $79,110 00 Total collected for the Bank 23,140 79 Balance due Bank, June 10, 1873 Cost to collect $79,110-$55,969 24 We give now a few of the items of disbursements: E. E. Norton, Commissions for services as Re$3,500 00 ceiver E. E. Norton, Commissions for services as 6,000 00 Assignee E. E. Norton, Commissions for services for 1,270 28 collecting Total $10,770 28 Ar. Miltenberger commission for servi es $3,500 00 as receiver 6.000 00 Services as assignee 1,270 28 Commissions for collecting $10,770 28 Total $2,500 0J Billings & Hughes, attorneys RECAPITULATION: $10 770 28 E. E. Norten 10,770 28 Ar. Miltenberger 2,500 00 Billings & Hughes $24,040 56 Total Petty expenses-stamps, postage, washing, P. O. box No. 310, towels, soap, stationery, $109 75 etc Office rent, ($50 per month), two clerks at $216 67 per month