Banks in New Orleans - New Orleans, LA

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: February 6, 1933
Location: New Orleans, Louisiana (29.955, -90.075)

Metadata

Model: gpt-5-mini
Short Digest: fd2600ab

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health, Capital injected

Description

Article (Feb 6, 1933) describes a run on Hibernia Trust Co. in New Orleans precipitated by charges made by Rep. Fish. Emergency aid (hard cash in vaults, RFC, Federal Reserve assistance) was brought in. The piece mentions banks being closed for the day as a legal holiday to prevent spread, but there is no indication Hibernia suspended payments permanently or entered receivership; thus classified as run_only.

Events (1)

1. February 6, 1933 Run

Cause: Bank Specific Adverse Info
Cause Details: Run precipitated by charges made by Representative Fish against the bank, which undermined depositor confidence.
Measures: Hibernia piled hard cash in vaults; RFC (Reconstruction Finance Corp.) provided millions; Federal Reserve came to aid; governor declared a legal holiday closing banks for the day to check spread of run.
Newspaper Excerpt: Hard Cash Stored in Vaults Stems Run Brought on by Charges of Rep. Fish
Source: newspapers

Newspaper Articles (1)

1. February 6, 1933 Nashville Banner Nashville, TN

Article from Nashville Banner, February 6, 1933

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Article Text

New Orleans Bank Stacked With Millions Hard Cash Stored in Vaults Stems Run Brought on by Charges of Rep. Fish R. F. C. Comes to Aid of Institution Hibernia Officials Say They Are Prepared to Meet Any Withdrawals New Feb. the Hibernia Trust Co. stacked dollars today the run started bank Friday president. Fish (Rep.) New before the House Banking Committee in dollars in hard cash and vaults and depositors draw out their money they but they were assured was safe during the the bank voiced by the New banks and by Gov the Federal Reserve came to New Orleans to aid in meeting the Twenty dollars made the Reconstruction series sessions Sunday and were raised by the Hibernia Mr. Hecht said the on his bank was precipitated the he had aided the Union Indemnity pany New Orleans in obtaining $4,000,000 from the Reconstruction fore the the who the the he had recommended nor voted the Indemnity applications said accepted and that had the confidence" the Hibernia STARTED After Mr. Fish's Mr. Hecht said started his bank from on Gov Allen came the bank by declaring legal holiday diplomatic tween United States and Under the banks in New Orleans closed for the day time the for run feared sp ead New Orleans the Request for aid made to the and representative down (Continued on Page Column