7570. Bank of Orleans (New Orleans, LA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
October 1, 1857*
Location
New Orleans, Louisiana (29.955, -90.075)

Metadata

Model
gpt-5-mini
Short Digest
95afc41f

Response Measures

None

Description

Articles (Oct 1857) report the Bank of Orleans suspended payments but then had 'partially resumed specie payments' by the 17th. Newspaper dates/phrasing conflict (one piece dated Oct 21 says the bank 'have suspended'; another dated Oct 22 reports it had partially resumed up to Oct 17). I therefore classify this as a suspension followed by a reopening/partial resumption. Cause of suspension not specified in the articles (likely part of the wider 1857 panic), so marked 'other'.

Events (2)
1. October 1, 1857* Suspension
Cause Details
Article states the Bank of Orleans 'have suspended' but does not give a specific trigger for this bank.
Newspaper Excerpt
Bank Suspensions. NEW ORLEANS.-The Bank of Orleans, Union, Mechanices' and Traders' Banks have suspended.
Source
newspapers
2. October 17, 1857 Reopening
Newspaper Excerpt
Reports up to the 17th inst state the Bank of Orleans had partially resumed specie payments.
Source
newspapers

Newspaper Articles (2)
1. October 21, 1857 Semi-Weekly Standard Raleigh, NC
Article from Semi-Weekly Standard, October 21, 1857

Click image to open full size in new tab

Article Text

Bank Suspensions. NEW ORLEANS.-The Bank of Orleans, Union, Mechanices' and Traders' Banks have suspended. Cotton nine and a half to ten cts. Sr. LOUIS.-A heavy run is being made on the Bank of the State of Missouri. The ability of the Banks to hold out is doubted by some. NASHVILLE.-The Bank of Tennessee has suspended. 'The Legislature is engaged in considering the legalization of the policy.

2. October 22, 1857 The Evansville Daily Journal Evansville, IN
Article from The Evansville Daily Journal, October 22, 1857

Click image to open full size in new tab

Article Text

NEW ORLEANS.-Reports up to the 17th inst state the Bank of Orleans had partially resumed specie payments. The wealthy house of John A. Dougherty & Co., extensively connected with the St. Louis produce trade, had suspended.