7587. Canal Bank & Trust Company (New Orleans, LA)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
trust company
Start Date
May 30, 1842
Location
New Orleans, Louisiana (29.955, -90.075)

Metadata

Model
gpt-5-mini
Short Digest
9b746eb9

Response Measures

Full suspension

Other: Canal Bank appears in lists of banks that first resumed on May 16–17, 1842 and then was caught up in a broader run that forced multiple New Orleans banks to suspend at end of May/early June 1842. Unclear whether Canal ultimately reopened within the articles provided; later August reports show Canal fluctuating and receiving specie but not an explicit full resumption statement.

Description

The Canal Bank participated in the May 1842 resumption and initially paid specie, then faced heavy withdrawals during the panic that began around May 30. Several sources (May 25–June 13) report runs and that Canal suspended payments with other New Orleans banks on/around June 1, 1842. Later reports (Aug 1842) show Canal received specie (e.g., $70,000 on Aug 26) suggesting efforts to restore liquidity, but the sources do not clearly state the bank fully and definitively reopened for ordinary specie payments. Thus I classify as run -> suspension with uncertain final outcome. Bank type assigned as 'state' given the historical context and usual chartering of major New Orleans banks; if strict name-based inference is required, 'unknown' could also be defensible.

Events (3)
1. May 30, 1842 Run
Cause
Local Banks
Cause Details
Disagreement among New Orleans banks over whether to resume specie payments (some banks refused to join resumption), which undermined confidence and triggered heavy withdrawals
Measures
Participated in resumption attempt (opened vaults and paid specie on resumption day); paying tellers increased to meet demands and the bank initially paid out specie to depositors
Newspaper Excerpt
On the 30th of May a run upon the Banks for specie appears to have begun, and lasted for several days
Source
newspapers
2. June 1, 1842 Suspension
Cause
Local Banks
Cause Details
Following the run and the refusal of some banks (Citizens', State, Consolidated) to resume, confidence collapsed and the Canal Bank suspended specie payments around June 1, 1842
Newspaper Excerpt
a panic ... obliged the New Orleans Banks generally again to suspend specie payments ... the Canal Bank and the Commercial Bank also suspended
Source
newspapers
3. August 26, 1842 Other
Newspaper Excerpt
The Canal Bank received $70,000 in specie on the 26th. The Consolidated Bank has also obtained specie enough to arrest the operation of the law.
Source
newspapers

Newspaper Articles (18)
1. May 25, 1842 Daily Richmond Whig Richmond, VA
Article from Daily Richmond Whig, May 25, 1842

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, From the N. O. Bee, May 17. : THE CRISIS-THE FIRST DAY. I Yesterday morning. at nine o'c'ock. The Union, City, Louisiana, Carroliton, Commercial, Me I chanics' and Traders' and Canal Bank, opened their , doors under full resumption. The Consolidated , Bank, very unaccountably, withdrew from the arI rangement entered into on the Saturday before, by which it also had agreed to resume, and refused to throw open its vaults, alledging, as a reason for r such conduct, that the Citizens' and Louisiana State Banks had refused to undertake cash ments, would no. the and of that it, therefore, At paymeeting the Bank Presidents, of Saturday, at which resumption was agreed upon, the Citizens' , Bank was not represented, and the President of the ) State Bank refused to sanction the measure, as the Directors had not empowere.i him to decide, either , for or against resumption. The subsequent determination of those Banks, therefore, could scarcely ) be appealed to to justify the course of the Consoli) dated Bank Upon the opening of the Banks, a considerable run was made upon them by the holders of small sums. The excitement was increased materially by the refusal of the Consolidated, Citizens' and State Banks to join in cash payments, and until half past two o'clock. the calls for specie, at the Union, City, and Canal Bank, were constant. At the Mechanics' and Traders', Carrollton and Commercial there was some stir early in the morning; but it was not kept up for more than forty minutes; after which time the demand for coin abated, and to the expiration of banking hours few notes were presented for specie. The Union and City Banks were crowded with note holders until a later period; but before 3 0'clock, the demand for specie upon those institutions slackened off to such an extent, that there was not a man in either of them desirous of obtaining cash for his notes, unsatisfied. So far from any attempt being made to evade the full force and effect of resumption, the payir g tell. ers in the resuming banks were doubled and trebled, in order to detain note holders as little as possible. The banks "stood up to their fodder" like "Georgia majors," and made every exertion to pay out as fast as the notes were produced. The exact amount of coin taken from the vaults, we could not ascertain; but we were happy to remark a feeling of confidence gradually taking possession we noticed several of the under public mind, and persons, who, the previous excitement, had drawn specie, returning it to the banks, being perfectly satisfied to exchange it for the same notes they had so shortly before hurried over their counters for the coin. Had the Consolidated, State and Citizens' bank joined in the measure, there had been nothing left for us to regret; as it is, the resuming banks will, in our opinion, weather the crisis in fine style. The notes of the non resuming Banks are at a discount of course; and will continue to depreciate until they likewise resume. We have been furnished with the following statement of the specie drawn from the various Banks yesterday. The City Bank paid out $80,000 and received on deposite $15,000-loss $65,000. The Union Bank paid out about $50,000-Canal $25,000, Commercial $30,000, Carrotton about 2,000, Mechanics & Traders a trifling amount, and the Bank of Louisiana paid out $3,000 and received upon deposit $14.000-making in all a diminution of about $175,000 in the specie of the resuming banks. P. The Presidents of the resuming Banks have had a consultation, and are determined to go ahead. The best spirit prevailed amongst them, and they are convinced of their ability to sustain cash payments.

2. May 26, 1842 The New York Herald New York, NY
Article from The New York Herald, May 26, 1842

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MONEY MARKET. Wednesday, May 25-6 P. M. The transactions at the Stock Board were small to-day, but prices did not materially vary-Delaware and Hudson fell 1 per cent and Long Island 1; Mohawk d; Indiana 5'8 rose #; Harlem 1. Sales of bills on Philadelphia dis. count. The Secretary of the Treasury, who has recently been here on business relating to the government loan, seems to laboring under great embarrassment in the negotia. tion growing out of the intrigues of parties, determined upon obtaining the loan at as low a price as possible, regardless of every other consideration. It is always the casethat when a needy borrower comes into the market, his necessities being known, become the instrument of extortion. Unfortunately for the government it became necessary to expose its wants, in order to procure the passage of the loan bill. That exposure has prevented the negotiation of the loan. From what has transpired it ap. pears that a number of houses, headed by one, the malign influence of which has been felt in American aflairs on both sides of the Atlantic, made offers for a loan, of a character which could not be acceded to. The induence of these parties was then exerted to prevent success in any other quarters. It was then suggested that an agent should be sent to Europe to try the markets there. The New York American instantly proposed Franklin Haven, Esq who is President of a Bank in Boston, which has long been the agent of Baring Brothers. No such appointment will be made, however. It has been publicly stated that the loan has been taken, but we apprehend that all that has been done is an offer to advance the Secretary what money he may want for the present, without agreeing upon any price. The financial history of the State of New York is an instructive one to the federal government in the present crisis. The State, it is well known, labored for years under the pernicious influence of a Wall street clique.The inevitable result was, that the State credit was driven to rink of ruin. The State was always in want of money, and the terms on which it was procured were always dictated by the imperious brokers who affected to control every thing. During the past session, however, thraldom was broken up. The new Comptreller procured the passage of an ample revenue bill to fortify the State credit. He then came into the market on his own hook, and the result is that he procured $2,500,000 from the people, in spite of all the wire pulling of the baffled stockjobbers. Pursuing the same course, the City Comptroller obtained $1,000,000, and bids to the amount of $1,000,000 more were obliged to be set aside.This points out the way to the Secretary. He has offered his loan and it has not been-taken-one reason is, the conflicting movements of the brokers, and another is the unsettled state of the government revenues. In a few weeks probably the latter will be remedied. Let Congress then pass a law authorising an issue of deficiency" bills, reimbursable with the proceeds of the loan. These will give present means. The Secretary may then select a judicious agent for the home market or to go abroad, discarding entirely the malign influence of those houses, who have hitherto balled him, and the money may be got perhaps at a sufficient premium to cover all the expenses. The ruling rate of interest in Amsterdam and London is 21 per cent. It will be remembered that under date of May 6 we published dates from Liverpool to the 19th April stating the fact of the Holland minister issuing proposals for 7,000,000 florins, 5 per cent stock, received bids for 53,613,000 florins; consequently each applicant received but 12 per cent of his bid. A6 per cent loan under the same circumstances would be worth 20 per cent premium, and there is no doubt but that if the revenues are properly settled, the United States loan will readily command a premium. The Directors of the Ocmulgee Bank of Georgia have determined to resume specie payments. A Committee ap. pointed to examine the Bank of Columbus have of course reported in its favor-when was there ever a different result? The circulation is stated at $17,327; deposits $86,123; certificates issued $130,743. The Bowery Fire Insurance Company have declared a dividend of ten per cent, payable on the first of June. The New York Contributionship Fire Insurance Com: pany a semi-annual dividend of eight per cent, payable on the 6th of June. The Banks of NewOrleans made their attempt to resume on Monday the 16th inst. There are ten banks in all now in operation. Of these, seven paid specie in full and three refused. The following resumed :Commercial, Louisiana, City, Canal, Union, Carrollton, Mechanics & Traders. The following refused to pay-The State Bank, Citizens Bank and the Consolidated. A small run for coin was sustained when the banks first opened; this soon subsided and part of the specie returned to the banks. Thedelinquent banks of course must pay or cease to do business. There can be no alternative. The Board of Directors of the State Bank of Indiana, at their quarterly session last week, fixed the fifteenth day of June next for the resumption of specie payment, in all the branches. This is the day fixed by the Illinois Bank and the Kentucky Banks. The Ohio Banks are already paying specie, and those of New Orleans having made the attempt, the coming mouth will witness the restoration of the currency in the Western States. The following are the leading features of those Banks that are abou

3. May 26, 1842 The Daily Madisonian Washington, DC
Article from The Daily Madisonian, May 26, 1842

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HURRA FOR A SOUND CURRENCY Yesterday's sun rose brighter than usual, and looked down upon the broad lands of Louisiana with a smile that gladdened the hearts of all good citizens, and men were observed to move upon the dull earth with lightsome step and heads erect. be reYesterday was a memorable day. It will ferred to hereafter as the epoch of " honesty" returned to Louisiana after a five years' absence. Seven out of the ten surviving banks made a grand effort aad paid their obligations in the legal money of the Republic. It was a remarkable day, too, for the signal piece of treachery to sacred promises on the part of the State ank Consolidated Banks. These institutions solemnly agreed on Saturday last to pay coin yesterday, but the directors reconsidered that promise, and refused to come up to the rack." two Nothing daunted by the desertion of these George Stanleys, on the morning of the battle the City, Commercial, Union, Mechanics' Carrollton, Canal, Louisiana Banks marched out in solid column, and opened their vaults to their creditors. Had the three Banks down town, now known by the significant title of the 'State of Consolidated Citizens, done their duty to the public, resumption of specie payments would have passed of as an ordinary occurrence. But it proved otherWise, not in consequence of any doubt on the part of the holder of notes, but in consequence of a scheme said to be set on foot by the State of Consolidated Citizens, which paid out the notes of the resuming institutions to an army of Faithfuls to go up and draw the cash, for the purpose of replenishing the vaults of the said "State, &c The appearance of these gentlemen in such numbers alarmed, temporarily, the unwary, and the crowd in the Union, City, and Canal Banks increased up one o'clock, when people having got wind of the "movement" of the "State, &c., fell off and for two hours thereafter great indignation was expressed by the bystanders and the citizens generally. The main point of attack was upon the City Bank, whose President is regarded with especial horror by "State of Consolidated Citizens." The common talk among those citizens was, Ah, ah, we have got damne. Yankees on the hip at last. The Citizens' Bank will give Peters hell to-day, the Consolidated will follow to-morrow, and on the third day the State will close his weer with a "sockdologer.' This is evidently the feeling at the bottom of this whole affair, but It has failed, and will fail most miserably. The Seven Banks will pay their debts, let come hat may The people are with them, heart and hand. Au early hour, the notes of the "State of Consolidated Citizens" were offered in the streets and in the brokers' offices, at all sorts of discounts. Actual were made as follows Citizen's Bank notes, 10 to 18 per cent. discount. Consoididated " 10 to 18 State 101515 They are tendi downwards, and it three clock yesterday, they were regarded with great suspicion. is The Citizens' Bank committed gross violation law in paying out Third Municipality Shinpiasters yesterday, at her counters, in exchange for her own notes. This was th game played by the Burstups, when they were driven to the wall. They say that the Citizens' paid out $40,000 of this trash in the course of the day, and " is now known by the name of Citizens Bank currency. The State Bank did large business. She paid her notes under five do lara in coin. It was a disgrace to see S wealthy a conc rn palter in a double serise. and treat the public so scurvily The Consolidated threw herself upon her reserved rights, and refused to redeem her notes in anything. She considered them as good as wheat, though the holders did not, as the above table will show. Considerable quantities of specie, drawn out of the coin paying Banks, by the inhabiants of the region of "les trois Banques," were deposited, it is said, in those institutions, on special deposite. The notes of the "State of Cons ls. and Citiz ns, were repudiated by the seven specie-paying Bank and refused in payment of debts On a comparison of the best information out dorrs, it appears that some $150,000 in coin were paid out by the seven Banks, but chiefly by the Union and City, at which a dead set seemed to be made. But what are $150,000 to these institutions? They can and will pay out if called on. ten times that amount They stand on the rock of truth and honesty, and not all the enemies of a sound currency in the world can overthrow them. The amount of coin received on deposit by the seven Banks, we learn, reached $100,000. two days more, the deposits will exceed all that has been paid out. Public confidence is with the-seven Banks, and in their march they will not leave a vestige of irredeemable paper behind them. The Courier of last evening (French side) asserts that " confidence is the basis of human affairs." To be sure it is, but Banking affairs must rest upon the basis of coin, before confidence in them can exist.No talk, no argument will sustain the " Trois Banques" against Banks which pay their debts in coin. The Plaquemine Gazette gives the alarm against Consolidated notes. It says that that section of the State is flooded with this paper, and remarks that an enormous flight of Exchange and Atchafalaya Bank iper preceded the destruction of those institutions. The seven Banks paid out coin yesterday with the utmost alacrity and promptitude. No let or hindrance was made to bill-holders and depositors, but all were immediately accommodated. This is the way. Men or Banks who can pay their debts, have nothing to fear, and the seven Banks are fortunately in this category. Immense quantities of sight Exchange were sold yesterday, on New York, at par to one per cent. premium. To people, abroad, we have but one word to say, and we think we have a right to say it, for we have been alone in our advocacy for resumption in this city, and gave warning always, where there was danger. Our word is Stand by the seven specie-paying Banks of New Orleans. if you doubt them, try them, and they will dissipate all doubt, by paying you what they owe you. They resolved to pay, they can pay, let come what may If the three repudiated Banks, the C. C. S. do not c ome in. their notes will be at 30 per cent. discount in a week's time. Trade has already felt the benign influences of resumption. People breathe.freer. Confidence has returned. The People of New Orleans have sworn eternal enmity to irredeemable paper currency, and they will foster the seven honest coin-paying Banks, and the law and public opinion will prevent them from ever suspending again.' Hurrah, then, for a sound currency

4. June 10, 1842 Holly Springs Gazette Holly Springs, MS
Article from Holly Springs Gazette, June 10, 1842

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NE 10, 1842. VOLUME 1---NUMBER 46. From the Kennebeck Journal. THE Banks.-On Sunday morning we announced the PASS ROUND unanimous opinion of the Banks, with one solitary exception, to resume specie payments yesterday, and even that bank had The true Whig, published at Washington, reminds its not given a direct negative to the question of recumption-she readers and the public that in the two years previous to Gen. was merely not represented at the meeting, at which it was Jackson's war on our currency system, the number of tanks agreed ou. We hailed the announcement as le commencecreated was 22, with a capital of $8,000,0000: that in the ment of a new and a better era; we thought it would be the next two years the number of banks created was 268, with signal for the restoration of confidence--the prelude to the $368,000,000; that the former banks were generally sound, the that improveme of business-the harbinger of Leaer trade and and the latter have generally better times. Bu: what was our astonishmen: to find, yesterLoco Focos are now breaking down the very currency they day morning, that of the nine banks which had resolved to regave us, bad as it is, and are fast reducing us to the condition sume the payment of specie, two of them, the Consolidated of no currency at all. Bank and the Louisiana State Bank, withdrew from their reAnd pass it round, we add, that by the reports of the Secresolve, and in common with the Citizens Bank refused to pay tary of the Treasury, it appears that the bank bills in circuspecie on the opening of their doors yesterday morning. lation in the whole Union. in 1816, amounts to This circumstance, and the reports so industriously circu$68,000,000. lated by interested individuals, of the solvent condition of this This was before the charter of the second U. S. Bank, and institution and the bankrupt condition of that, created quite a when we had been without a National Bank for four years. panic among our community, and every one, from the holder The charter of that Bank wasthen granted, with a capital of of a V to him who had thousands placed to his credit in certain of the banks, seemed eager to convert it into the precious thirty five millions of dollars. Did expension follow? Oh metal. The consequence of this feeling was, tha: the seven no-very far from it. Fourteen years afterwards, or in banks that commenced the good work of resumption, had 1830, the whole amount of bank paper in circulation, from what is called in technical phrase, a run on them all day. all the banks, was They withstood it nobly. All hands were called to attend $61,323 898, to the desires of claimants; indeed, the wish seemed to be with being a decrease in fourteen years, while the U. S. Bank was them, not how little, but how much they could reekon and in operation, of nearly seven millions. pay out. As sheer justice to them, we will here give their Well, what next? The President vetoed a bill to re-charter names. They are-The Bank of Louisiana, The Union the Bank in 1832, and then what followed! In 1837, the Bank, The Canal Bank, The Mechanics and Traders Bank, bank paper in circulation had increased to The Carrolton Bank, The City Bank, The Commercial $149,185,890. Bank -N. O. Picayune of 24th May, 1842.

5. June 13, 1842 The New York Herald New York, NY
Article from The New York Herald, June 13, 1842

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BY THE SOUTHERN MAIL. OCT The Southern Mail had not arrived at the time of our going to press. LATEST FROM NEW ORLEANS-PROGRESS OF THE REVULSION.-Our accounts last evening came down to the 4th inst. The confusion, paralysis, and com mercial fright, was beyond all precedent. The following are extracts:NEW ORLEANS, JUNE 1.-The specie paying banks sustained themselves well yesterday-indeed there was no run upon any but the Union, and that was a slight one. Our citizens seem to have become convinced that the banks that have held out thus far are sound, and no depositors were disposed to draw out specie further than their business wants required. The consequence was, that no run was made yesterday, and the five specie banks remained sound and undisturbed. Should these five institutions prove themselves able to maintain their specie paying stand, our city would be able to boast that pecie was the standard of some of her banks, even if the same banks had no promises to pay affoat? The Union Bank is now believed to be established in her specie-paying position. For the honor of our city it is hoped that she and the other four banks will hold out the hard money flag-though we the people must suffer greatly from being driven to the use of a currency (the only one obtainable for daily use) greatly below par.-Bulletin. REMARKS ON THE MARKET FOR THE LAST THREE DAYS.-Once again is our currency thrown into chaos, and trade may be said to be almost completely paralysed in consequence. In our last Wednesday's report we noticed the suspension of specie payments by the Citizen's and Louisiana State Banks, but strong hopes were entertained that all the others would maintain their position. These hopes, however, have been disappointed. A panic seemed to have seized upon both billholders and depositors, and on Wednesday and Thursday four others, viz : the Consolidated, Canal, Commercial, and City, declared another suspension. The banks which still maintain their payments in specie are the Union, Mechanics and Traders, Bank of Louisiana and Carrollton. We have thus emphatically and literally a "mixed currency," and prices of merchandize partake so much of a similar variety that we find it almost impossible to arrive at correct quotations until matters become more settled. -N. O. Price Current. GEORGIA GOLD MINES.-The Milledgeville Journal states that persons who follow the pursuit of digging for gold in that vicinity, have of late been much stimulated in their labor in consequence of the handsome profits they have in many instances realized. It is said that in the neighborhood of Dahlonga, there are from fifteen hundred to two thousand pennyweights found daily. At one mine, on Battle Branch, there was lately found one lump worth, it is said, one hundred and twenty-eight dollars. It is supposed, from present prospects, that there will be at least from $300,000 to $400,000 realized in that section from the pursuit within the present year. The late success in this business is drawing the attention of many others to it.

6. June 13, 1842 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, June 13, 1842

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Iaised Bills are will We quote disc. Apalachicola 11 a Philadelphia Mobile 25 a 251 Baltimore par a 24 a 27 251 a 2. Montgomery Virginia Tuscaloosa 2/a 3 25) a 26 N Carolina - a New.Orleaus 1:a 1. Charleston 12 a 13 Nashville 12 a 2 Savannah Lonisville 2) a 21 13 a 2 Augusta 9 2 10 St. Lou 20 a 221 Columbus 20 Cinclunati 3) a 4 Macon There is some inquiry for Treasury Notes for investment, at par and t premi. A dividend of five per cent. will be paid by the Auburn and Rochester Railroad on the 1st proximo. We understand that arrangements have been made to redeem the notes of the broken James Bank on and after the 15th instant at par. The Etna fire Insurance Company have declared a div. idend of eight per cent. The attempt to resume specie payments in New-Orleaus has virtually exploded. In consequence of the hesitation of the Citizens', State and Consolidated Banks to resume on the day the other Banks resumed, confidence was impaired. and a run was kept up. The consequence was the suspension of the Consolidated. State and Citizens'. followed by the City, Commercial and Canal Banks, until 5th December next, the day fixed by the law. The Banks which pay spe. cie are the Mechanics and Traders', Carrolton, Union and Bank of Louisiana. On the Union there had been a runThe City Bank lost $160,000 Specie in one day. Therewas a most intense panic prevailing, and such were the crowds in the banking rooms that several persons fainted, and two were reported to have died. The following was the state of three of the banks on Saturday, May 28: Circulation. Specie. $294,245 $112,554 Citizens' Bank 419,390 170,025 Consolidated Bank 387,645 227,527 State Bank $1,101,280 $510,106 There are due to the three Banks, payable within 90 days, nearly a million dollars: $144,729.57 Citizens' Bank 136,355 24 Connsolidated 325,029 95 Louisiana State Bank $906,114.76 The above six banks suspended on the 30th of May and 1st of June. The v-Orleans Bulletin of the 3d instant

7. June 16, 1842 Lynchburg Virginian Lynchburg, VA
Article from Lynchburg Virginian, June 16, 1842

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NEW ORLEANS BANK SUSPENSIONS. There has been a panic created in New Orleans, in consequence of some disagreement in matters of policy among the Banks of that city, and a heavy run was made upon them. followed by the suspension of specie payments on the part of several of the Banks. On the 31st May, the Citizens' Bank and the Louisi ana State Bank announced their intention to suspend specie payments until the 5th of December next. On the 1st instant the Commercial Bank, the Canal Bank and the Consolidated Association Bank also sus pended. The suspension of the City Bank was announced on the 2d instant. The New Orleans Bulletin of the 2d instant, speaking of the suspension of the City Bank, says-"This fact, we feel warranted in saying, settles the question of specie payments in New Orleans for the present. No Bank in the city, that issues notes will redeem them in specie before autumn at least." The Picayune of the 3d instant says "The present specie paying banks are the Mechanics' and Traders," the Carrollton, the Union, and the Bank of Louisiana. All these banks, except the Union, have but a nominal existence. They are neither issuing their own notes, nor discounting those of others; so that their position is a matter of little consequence to the public.Their liabilities are but small, and they are known to have means to meet them: there is, therefore, no anxiety-no excitement regarding them. It was not so yesterday with the Union Bank. There was a brisk run on her in the morning, but she promptly aswered all demands with silver.--Thiscreated confidence in her behalf, and long before the time for closing her doors the "run" declined to a very easy "walk," her counter in the meantime being filled with specie." It is said that two persons had died from injuries received in the crowd at one of the Banks. The New Orleans Courier of the 1st says "More than six hundred thousand dollars, !in specie, it is said. will have been exported from New Orleans during the fortnight ending Jane 4." The following are extracts from letters. New Orleans, May 31. "There was a run made on the Citizens' Bank yesterday. About 12 o'clock the crowd increased and commenced drawing specie from the State Bank and the Consolidated Bank. This morning the Cashiers of the Citizens' and State Banks have announced that they have suspended until the 5th December next. the time given by the Legislature. It is said that the Citizens' Bank has $500,000 in sterling exchange, which she has not been able to sell. No person appears to know what caused the run on the Banks. The Consolidated Bank has not suspended." "June 1. "The Consolidated Bank has suspended specie payments. The holders of her notes having lost confidence, owing to the suspension of the Citizens' and State Bank, made a run on her yesterday. The crowd was great, and the day being very warm. several persons fainted. and were carried cut of the Bank apparently lifeless.The run continued from 9 until 2 o'clock, and amounted almost to an impossibility to reach the paying teller's counter. Men were seen coming cutas wet from pers.

8. June 16, 1842 Martinsburg Gazette Martinsburg, WV
Article from Martinsburg Gazette, June 16, 1842

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From the National Intelligencer. THE NEW ORLEANS BANKS AGAIN SUSPENDED. We received last evening, three or four mails together from New Orleans. On the 30th of May a run upon the Banks for specie appears to have begun, and lasted for several days, which has obliged the New Orleans Banks generally again to suspend specie payments. The following extracts of letters taken from the Charleston Courier, give a more condensed and intelligible account of the matter than the newspapers: NEW ORLEANS, May 31. There was a run made on the Citizens' Bank yesterday. About 12 o'clock the crowd increased, and commenced drawing specie from the State Bank and the Consolidated Bank. This morning, the Cashiers of the Citizens' and State Banks have announced that they have suspended until the 5th of December next, the time given by the Legislature. It is said, that the Citizens' Bank has $500, 000 in sterling exchange, which she has not been able to sell. No person appears to know what caused the run on the banks. The Consolidated Bank has not suspended." JUNE 1. The Consolidated Bank has suspend. ed specie payments. The holders of her notes having lost confidence, owing to the suspension of the Citizens' and State Banks, made a run on her yesterday.The crowd was great, and the day being very warm, several persons fainted, and were carried out of the bank apparently lifeless. The run continued from nine until three o'clock, and it amounted almost to an impossibility to reach the paying teller's counter. Men were seen coming out as wet from perspiration as if they had been taking a bath with their clothes on. The Consolidated Bank is a solvent one, but the directors do not understand how to manage it well." "JUNE 2. The Canal and Commercial Banks did not resume yesterday. The run on the City Bank was very great yesterday. At 12 o'clock she had paid out $70,000, and up to 3 o'clock, the amount drawn (as reported) was $160,000. They will all doubtless suspend before the week is out." From the New Orleans Bulletin, June 3. We repeat, that suspension of specie payments by the Banks of New Orleans, is real-and any pretension to the contrary is illusory. " No Bank that issues notes can pay them in specie. From the Baltimore American, June 14. LOUISIANA BANKS. The excitement in New Orleans has subsided, and the run on the Banks was over on the 4th inst. The Union Bank continued to pay specie for all demands upon it.

9. June 16, 1842 The New York Herald New York, NY
Article from The New York Herald, June 16, 1842

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NEW ORLEANS BANKS. FAILED. SPECIE Pay'a. Liab. Assets Liab. Cash assets. 555,419 Ble of La. 746,428 181,397 Camal, 390,419 119,247 Citizens. 32,091 Carrolton 1,036,976 1,517,941 1.312,113 Commer'l 850,115 471,992 812,992 City, 414,101 T. Mech. & Consol'd 426,609 963,595 450,635 1,482,721 1,383,292 Union, 1,039,156 State Bank, 534,577 $3,338,528 3,883,658 4,753,623 Total, $2,725,577 The suspension of these banks will have a powerful in. fluence upon the state of afTairs west. Two of the failed banks, the Citizens and Consolidated, are based upon the State bonds to the amount of $10,000,000, and the London holders of those bonds may be obliged to take slaves for them. At Mobile the situation of the currency is disastrous in the extreme. The premium on specie being 30 per cent. The merchants of that place resolved some time since to receive the depreciated bank currency only for its specie value. This resolution has recently been re newed, and was to have gone into operation on the 1st instant. It will probably produce a great effect in compelling the banks of that section to liquidate or resume. This revolution in the western currency, with the severe contraction of the specie paying banks in the interior has caused the utmost difficulty in procuring remittances from those sections. Hence it is that the spring trade has been exceedingly small, and great numbers of failures have taken place among the merchants more particularly in the dry good line; but some heavy grocers have also gone down. With banks and capitalists money has been exceedingly plenty, arising from the gradual liquidation of old city accounts, and the small demand for money for business purposes. This has caused a demand for sound stocks and a consequent improvement] in prices, notwithstanding the untoward events that are progressing in the more indebted States. The following is a comparative table of prices PRICES OF LEADING STOCKS IN THE NEW YORK MARKET

10. June 18, 1842 Lexington Union Lexington, MS
Article from Lexington Union, June 18, 1842

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From the New Orleas Bulletin, NEW ORLEANS MARKETS. Saturday, June 4, 1842. In the market during the last three there has been less doing than daw is owing to weeks banking the previous; extraordinary institutions. this movements principally sever of any thing in the ly statement difficult of to the give market We find it extrem likea present correo ranged state of money matters, prices are made up to the suspended Ou bank paper, that being the principal rencv. We would remark, that CUI , pecie or its equivalent is offered, willer the sales a.e made at lower rates than OCT quotations. Cotton-The Cotton hasbeen flatsince Tuesday evening. The news from E rope, which came to hand in the of the eariv part acted on our this, vorably a prematur esuspension week, prices; has of together rather unly. with specie payments by most of our banks, has prevented sales to any extent being made, post three as as we can do not 2500 transactions far during learn, the The whole exceed bales, possibly they will not quite reach that amount. love mer quotations, remarking hart the inside line is nearest our market ists. and are the rates at which sales are made for the suspended paper. For specie pasing notes they may be seldown at de. lower. LIVERPOOL CLASSIFICATION Inferior, 4 a Ordinary, 3a Middling, Can Middling Fair, 8 a Fair to fully Fair, 9ta Good Fair, 11a Good and Fine, 12g N. Alo, and Tenn. 3 Selected crops, Currency. - Since our last weeking tice, six of our banks have suspendent ments in specie, to Will-the Citizens, ed State, Consolidated, Commercial. Camel and City. The shock has been severein felt by the whole commercial communic dThe banks that contiue to pay are tow Louisiana, Union, Mechanic's and Tn der's a Gas Light.

11. June 21, 1842 Indiana State Sentinel Indianapolis, IN
Article from Indiana State Sentinel, June 21, 1842

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Annals of Bank Swindling. NEW ORLEANS BANKS.-The New Orleans Bulletin of the second inst. says the run on the banks in that city the day previous was so great as to force five of them to suspend specie payments, viz : the Citizens', the Consolidated Association, the Commercial, the Louisiana State Bank, the Canal and the City. The Union, the Mechanics' and Traders' and the Carrollton still continued to pay specie, and it was supposed had the ability to maintain their ground. The Bulletin, however, is of the opinion that none of them will pay out specie again until next August at least. The immediate cause of the run which forced these institutions to a suspension, is attributed to the jealousy and want of confidence existing among themselves. The New Orleans Advertiser says the Citizens' Bank will never resume, and that it is doubtful whether she will ever be able to meet her liabilities. The Canal Bank is supposed to be wholly insolvent, having invested over a million of dollars in the construction of the new canal, and made heavy dis. counts to individuals from whom little or nothing can ever be collected. The Commercial Bank is represented as in a condition to save the stockholders from any great loss. The North Western Bank of Virginia has had the au dacity to authorize the publication of a notice, that she will redeem her own notes, either in drafts or specie, at 8 per cent discount! This is equivalent to a notice of bankruptcy with a declaration of 92 cents on the dollar. and yet such a concern is allowed to go on and do business. BEAUTIES OF BANKING.-In a late number of Sylvester's Counterfeit Detector. we find a list of the names of upwards of 1200 banks in the United States. Upon a careful examination, we find that of 1200, upwards of 300 are broken or "no sale." which means the same thing sixtv-four are fraudulent institutions ; forty-four are are either closed or closing; fifty-five are at a discount of from 25 to 90 per cent ; sixty-two are from 2 to 20 per cent. discount, and but fifty-two are at par, or worth 100 cents on the dollar, in the city of New York: the same paper also contains a list of over 800 different counterfeits on the various banking institutions in the Union. It may not be amisss to inform our readers, although we had almost forgotten it, that the Branch of the State Bank located at this place, has been removed. We hope the fears some time since expressed, by some of its friends through the Register, lest the people of the country should assemble and demolish it, have received a quietus. Its departure did not, so far as we know, occasion one sigh, or extract one tear. It may be that some of its officers here, whom it took in hungry and naked and kindly fed and clothed will feel some regret in parting with so kind a patron. To such we would say, however, cheer up-the world is large -mankind generous, and loafing a new profession.-.Mt d Carmel Republican. The President of the State Bank of Illinois, has TO r cently been off upon a shaving expedition. He happened to come in contact with one of our citizens at Pittsburgh engaged in the same business; feeling rather ill at ease as we suppose, in being caught in the very act of shaving his own paper, by a gentleman from Illinois, he said he was only shiving a little State Bank paper for a Sister Good !-Wabash Republican.

12. August 19, 1842 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, August 19, 1842

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MONEY MARKET. sales at the stock Exchange, Aug. 18. 17 150 do bS0d 51A 25 Farmers' Loan $30d 51 100 25 do 25 Planters' Bk Ten 511 50 do cash 11 50 Harlem 514 50 do b80d 511 50 Long Island R bood 514 50 do SECOND BOARD. $60.51 109 shares Long Island Commercial and Money Matters. THURSDAY M. The sales to-day at the Stock Board were almost exclusively of Long Island, which left off at 511, a decline of i per cent. Harlem sold at 141, also a slight decline. For Delaware and Hudson 87 was offered; 87} asked; Mobawk 37 offered, 371 asked; Delaware is looking up. We understand that a large portion of Mr. Watt's purchases were legal, the sellers having the stock on hand at the time of selling, and that Chancery proceedings have been or will be commenced to compel the performance of his engagements. One parcel of 1000 shares bought by him at 30 in the street is in this situation. It is supposed that at least 6,000 shares were thus bought legally and for which Mr. Watt is liable. The demand for State stocks was fair to-day and the rates firm. Ohio is recovering slowly from the partial panic produced by the anticipated new issue. State Sevens sold at mt a 1/2 premium. Ohio Sixes improved 2 per cent. Indiana Bonds For Government Sixes. 1844. 100 asked-1862 992 offered, 101} asked; State Sixes, 1860, 891, 90-61s. 1860, 821. 83-Fives, 1851, 801 offered-1858, 304 offered-1860, 75 off:1861, 75 offered, 80 asked; Ohio Sixes, 1850, 71, 751-1860, 75 75}; City Sevens, 1852, 3 prem offered-Fives, 1850, 80 ofl1870, 80. 82-1868, 81 asked. The transactions were as follows: 70 $1,000 do 1003 $1,500 N. Y.7-,1849 17 100A 15,060 III 6s, 1870 $2,000 do do 560d 174 $5,000 do $1,000 Ohio 6s, 1860 600 67 20 69 do $2,000 Indiana 5s $1,000 do Foreign Exchanges are quiet. Sterling 6127 per cent. Francs 5.35. Nothing new in Inland bills. Alabama is slightly better. Georgia heavy. The Manhattan Gas Light Co. has declared a dividend of Three per cent, payable on the 1st Sept. Nothing new in specie. At Rochester the Banks are beginning to discount produce paper pretty treely for the purpose of buying the new Wheat erop. Counterfeit Dimes and Mexican Dollars are very plentiful in Cincinnati. The sales at the Philadelphia Board were not large, although to a greater extent than for some days past. 95 $300 City Fives, 1864 614 $1000 Tennessee Five per cent 361 $300 Pennsylvania Fives, 187 21 6'shares U S Bank The Nashville Banner of the 8th inst. quotes exchange on New-York, Pbiladelphia and Baltimore, at 1 a 21 per cent premium. The citizens of Vigo County, Indiana, had the question submitted to them at the late election whether they were willing to receive State scrip for County dues. It was decided in the affirmative by a vote of 1964 to 37. The Sentinel says this is a good move. At Mobile the tendency of exchange has been downward, and the transactions have been light. The Bank of Mobile is checking on New-York at 56 per cent, premium, and specie is selling at 55 a 57. Some of the checks of the Montgomery Branch Bank have made their appearance, and sales have been made at 55 per cent premium. The demand continues light, and the supply of exchange, as well as specie, limited. Business of all kinds is at a stand, and never duller. The following are the rates of the suspended Bank notes at New-Orleans: Canal S5 a S7 dist, dull; Commercial 20 a 25, Consolidated 32 a 35; Citizens 41 a 44; Carrollton 20 a 25; City 25 a 87; Mechanics' and Traders' 41 a 71, demand; State 16 a 18; Union 10 a 13; Atchalafaya 80 a 35; Exchange 63 a 64; Improvement 60 a 65; Bank Orleans 70 a 72; Bank Louisiana and Gas Light, par. American Gold 11 a 21 premium; Sterling Exchange 2 a S prem. Francs 5.55 a 5.55. 60 days on New-York 2 a 3-sight 1 a 11; Treasury notes 1 2 prem.

13. August 24, 1842 The New York Herald New York, NY
Article from The New York Herald, August 24, 1842

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MONEY MARKET. Tuesday, August 23-6 P. Thesales at the Board were very moderate to-day. Pri. ces were, however, generally better. Illinois 6's rose Farmers' Loan 1; Harlem Delaware and Hudson fell It is stated that the Arkansas commissioners were recently here, authorised to pay the interest on the bonds of the State Bank, but returned without paying it, in order to depress the value of the bonds in the market. The bank is stated to have $91,000 specie now in its vaults. The holders of the bonds and coupons should immediately send them to Little Rock, and sue the bank, they being all signed by its cashier. What are the assignees of the Bellville Bank at Trenton about, and why do they not make a dividend? When they came into possession, the directors offered to give a good and sufficient bond for the payment of the circula. tion, the assets being thought more than sufficient for that purpose. At Mobile there has been some improvement in the local currency. It is at 55 per cent discount for specie.One of the street on dits is, that the Branch Bank will soon follow the example of the Montgomery Branch, and check on New York for forty dollars on the hundred of her is. sues, at 10 per cent premium. At New Orleans on the 13th, there had been considera. ble improvement in several descriptions of notes of the suspended banks. Union tolerably steady at 11 a 13 discount. State 14 a 16, with symptoms of improvement.Sales of Canal at 29 a 30 discount. Sales of Commercial at 18 discount-looking up. Carrollton nearly nominal. Mechanics' and Traders' very scarce, but seldom called for. Consolidater fluctuating. Citizens' declining. Of the banks in liquidation, Exchange, Improvement, and Orleans, are on the rise; Atchafalaya without demand. One of the greatest curiosities of this curious financial age, is without doubt the Baltimore American Life and Trust Company. The development of the assets of that company has astounded even those who were a little familiar with the United States Bank affairs, as well as the the North American Trust and Banking Company, the Manhattan Bank, and numerous others. Here is a company started in 1833, with a capital of $1,000,000, subsequently increased to $2,000,000, that at the expiration of nine short years, not only presents an account showing that capital to have been entirely sunk, but several millions of their bonds issued to London capitalists, and the money thus procured not only loaned to speculators on its own stock, but also on the most worthless real estate bubbles.The following is a list of the directors who sanctioned, positively by assent, or negatively by neglect of their business, this outrageous squandering of the property of others:OFFICERS AND DIRECTORS OF THE AMERICAN LIFE AND TRUST COMPANY.

14. August 26, 1842 The Yazoo Whig and Political Register Yazoo City, MS
Article from The Yazoo Whig and Political Register, August 26, 1842

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Bank Note Table, Corrected Weekly, NEW-ORLEANS MONEY MARKET. Adapted for Yasoo City Market. Gas Light and Banking Company, par. Bank of Louisiana, par. SUSPENDED BANKS. 25 dis. City Bank of New Orleans, 8 Mechanics and Traders', " Union Bank, 12 " 18 State Bank, " 30 Canal Bank, " 20 Commercial Bank, " Consolidated Bank 35 u 25 Carrollton Bank, " 45 Citizens' Bank, REPUDIATED BANKS, Exchange Bank, 25 c per dol. 30 c dob Improvement do. 25 c Bank of Orleans, 15 c do. Atchafalaya, Blue Backs, 60 to 55 pr d. MUNICIPALITY NOTES. Municipality No. 1, 8 pr ct. dis. " 8 No. 2, sb No. 3 50 40 Alabama, n 8 Tennessee, South Carolina, par. Kentucky, par.

15. September 5, 1842 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, September 5, 1842

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MONEY MARKET. Sales at the Stock Exchange, Sapt. 3. 19 b60d 25 Del. & Hud $30d 843 100 Farmers' Loan 75 do $30d 85 s30 39 100 Mohawk R 50 do cash 86 -40d 382 25 do 58 cas 51 25 Mechanics Bank 100 L. Island $60d 16 75 60 Bk of State NY 50 Stonington R 60 50 do 161 90 Mechanics' BKg Asso. 85 60 15 Amer Ex Bk 50 Firemen's Ins. Co 611 50 Manhattan Gas cash 19 45 Farmers' Loan 10 183 do SECOND BOARD. 15 19 150 Harlem 60 Farmers' Loan 143 100 do 50 Harlem 14 b3d 15 15 50 da 50 do Commercial and Money Managers. SATURDAY P, M. The transactions at the Stock Board were not to any great extent, but generally at advanced rates. The advices per Caledonia were considered favorable and calculated to prcduce this effect. Del. and Hudson improved + per cent, Mechanics Bank 1, Mechanics Banking Association a further advance of 2 per cent, Farmers' Loan 1, Stonington 1, Harlem 1. State Stecks were firm. City 7's sold at 102, and after the board considerable amounts of both State and City 7's sold at 2 per cent arem. For Ohio 6's 1869, 74 offered: Kentucky 5's 60 offered; State 6's 1862,91 offered; 5's 1858, 33 offered; Arkansas 20 offered Alabama 50 offered ; Michigan 18 offere Pennsylvania 20 offered. 182 241 $1,000 Illinois 63, 1870 $12,000 N.Y 51, 1861 78 21 $5,000 Indiana cs $5,000 K'ky Sixes, 560d 19 $5,000 III 6s, 1879 No change in Foreign or Inland bills- and very little doing. We learn from a private letter from London, that Mr. Robinson our financial agent, who went out to negotiate the 12 million loan, had left London for Antwerp on his way to Amsterdam. English capitalists would have nothing to say to him, and no better prospect existed for the negotiation on the continent. The amount of Treasury Notes outstanding on the 1st inst. was $8,771,999,99, being about $132,000 less than last month. At a meeting of the Directors of the Merchants' Ex. change Bank, James Van Nostrand, Esq., was this morning o elected President, vice Peter Stagg, deceased. Some surprise having been felt at a discrepancy between the dates and numbers of the Banks of the State of Kentucky, that is that bonds of 2 certain date should be numbered higher than bonds of a later date, the Secretary of Kentucky has published a statement He explains that some bonds regularly numbered but not dated, were deposited in the Northern Bank: one of there bonds were paid cut and dated at the time of payment by the Cashier. This has created the discrepancy. From 2 communication in the Albany Argus the Safety Fund appears to be in better condition than was anticipated. Twenty-two banks have availed themselves of the law allowing them to pay in six years contributions in one sum. in broken bank notes at par. They have paid in $200,060 and other large banks are preparing to do the same. It also appears that the Fund will get material lief from amounts to be repaid by the Commercial Bank, ($181,781) the Lafayette, Clinton, Watervliet, Lewis County, Commercial Bank, Oswego, &c. Holders of sespended bank notes, it is supposed, may look for a much earlier redemption than was supposed six months ago. All the banks of Lancaster, including that of the Columbia Bridge, resumed payment of specie for all their notes and deposites, on the first instant, agreeably to their previous arrangements. The approach of resumption in Virginia, (15th inst.) has reduced the rates of discount between Baltimore and Richmond, to 1 percent on drafts and 11 on bank notes. Wheeling notes 41 a 5. At Wheeling exchange OR the East was S per cent prem. At Charleston there was very little doing in exchange, and sight checks OR New-York were very scarce. 60 day bills were selling at cent discount. A mutual Insurance Company is being formed at Charleston. Specie continues to flow to New-Orleans from all quar ters. In addition to $200,000 to $800,000 from New-York, Vera Cruz, Cincinnati, Sc. $16,000 have been received from Martinique. The suit of the State of Louisiana against the Commermercial, Canal, Citizens' and Consolidated Banks for a forfeiture of their charters came on on the 26th ult. before the District Court. The counsel of the two first banks produced evidence to show that they had placed themselves within the limits of the Bank Law, by having in their vaults an amount of specie equal to one-third of their cir culation. The suitagainst them was consequently dropped. The case of the Citizens' Bank will be argued on the 2d September, and that of the Consolidated Bank on the Monday following. The rates of suspended bank notes at New-Orleans were in some few instances getting better. Exchange was scarce and rates tending upward. Sterling 4 prem. Francs 5,50; sight New-York, par to 3 per cent discount; 50 days 2 a 21 discount. American gold plenty and dull. Treasury Notes scarce, selling at 1/4 1 discount. The Canal Bank received $70,000 in specie on the 26th. The Consolidated Bank has also obtained specie enough to arrest the operation of the law.

16. March 7, 1843 Wheeling Times and Advertiser Wheeling, WV
Article from Wheeling Times and Advertiser, March 7, 1843

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BANK FAILURE AT NEW OR. LEANS-We learn Iro : the New Or. leans papers that the I commercial Bank of that city suspended payment on the 20th ult. The circomstance IS thus no. ticed in the Bee of the 21st: The city was yesterday was thrown into real confusion by the announcement. in the morning, that the Commer cial Bank had stopped payment. This fact was astound ng as no run had been made upon it of late, and some little con fidence was beginning again to be felt in our monetary institutions The cau. ses which lead to this result, must have grown out of the previous m magement. whereby she was SO much weakened as to be unable to stand up against the natural demands and exactions of coin merce She actually feil from exhaus tion. As was to have been expected from so untowa.d an event, the note holders, and n some instances the depositors, took thealarm and made a run upon the oth er tanks. T e Mechanics and Traders, and the City Bank had to stand thebrunt of the panic. They both paid out spe cie with great alacrity; neither made a ny attempt to evade the run upon herevery officer being engaged in counting out the dollars to those who wanted them. Towards three o'clock. the run upon the City Bank greatly abatel; but the Mechanics and Traders kept her dcors open for two hours after the usual time to accommodate such as desired to ex charge her notes for specie. Upon the State, Union and Canal Banks, the run was very trivial. In the height of the panic, the Com mercial Bank were sold as low as 40 per cent. discount; but towards the close of the day, they rallied and were readily exchanged at 25 a 26 per cent discount.

17. March 8, 1843 Edgefield Advertiser Edgefield, SC
Article from Edgefield Advertiser, March 8, 1843

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[From the N.O. Bee of 21st inst.] The Banks.-Failure of the Commercial Bank.-The city was, yesterday. thrown into real confusion by the announcement. in the morning, that the Cemmercial Bank had stopped payment. This fact was the more astounding as no run had been made upon it of late, and some little confidence was beginning again to be felt in our monetary institutions. The causes which led 10 this result, must have grown out of the previous management, whereby she was so much weakened as to be unable to stand up against the natural demands and exactions of commerce. She actually fel' from exhaustion. As was to have been expected from so untoward an event, the note holders. and in some instances the depositors, took the alarm and made a run upon the other bauks. The Mechanics and Traders, and the City Bank had to meet the brunt of the panic. They both paid out specie with great alacrity; neither made any attempt to evade the run upon her-every officer being engaged in counting out the dollars to those who wanted them. Towards 3 o'clock, the run upon the Bank City greatly abated; but doors the Mechanics and Traders kept her open for two hours after the usual time to accommodate such as desired to exchange her notes for specie. Upon the State, Union and Canai Banks the run was very trivial. In the height of the panic, Commercial Bank notes were sold as low as 40 per cent. discount; but towards the close of the day they railied and were readily exchanged at 25 a 26 per cent discount. It is not to be expected that the community will feel easy under such shocks upon confidence; but yet we believe that there are a number of banks in the city which are perfectly able to live through the worst of panics. We have not ascertained the amount of specie lost by the various banks, nor do we think it necessary to go into the partieulars of yesterday's flare up. We would, however caution bill holders .ne to part with their notes under an apprehension of their not being good. The assets of the Commercial, we venture to say, are equal to the redemption of every bill of hers in circulation. Some time may elapse before her resources are realized. The whig candidate for Mayor of New Orleans was elected on the 20th instant. Mr. Freret had 1289 and Mr. Genois, the democratic candidate, bad 974.

18. September 24, 1849 The Daily Crescent New Orleans, LA
Article from The Daily Crescent, September 24, 1849

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danal As and condition our to duty make have some thought much has been The of the Canal inquiries Bank, and the of state past present institution. we have obtained with from those that the the trusting to street rumors fully acquainted public information relate; and in order future prospects facts they condition and of our inquiries. as the Inasmuch know the Bank, the present we give below reports the circulated result have as had to the impressions Bank, tendency to create present injurious President of the conduct the state the holds, will be necessary Burke to took the place he attempting now to the move which Mr. certain parties are just before the of from which In the fall of resumption 1843, of specie paycharter, the Board time fixed by law the penalty for of forfeiture the principal it required resume ments, under of Directors informed $80,000 to enable specie the stockholders that with the law agreed and to furnish the Bank to comply stockholders existing Board payments. The that the then appointed. on condition direction be resumed money should go out and accepted a new and the Bank unfavor The condition 1842, under unfortunate very event in December, an New payment auspices owing to who were then in conseafloat, which rable is known suicide to of all the President). a In run was Orleans, of (the alarms which were its specie means were exhausted. of nearly made quence on the Bank, Although and the Bank two had, mil- at affairs that not nearly time, assets to the was amount the condition of these securities. lions that of dollars, $50,000 such could have been raised on of the new meeting the ample At this critical juncture was held a before bank resident hours mer: Board of Directors President (an old any next day, and the stated that he did advised not see the to chant of this sustaining city) the Bank, and that end. Mr. the abandonment means of of then all a efforts director, inquired themselves of Burke, who how was the Board having could exeuse obtained President and President stockholders after to which the Bank the assistance asked for condition of the replied, the " by charging the Mr. Burke President," then observed and on their predecessors." differed entirely from the the latter ought, in justice that he he did not think retain his position. rejoined remarked that the stockholders, that to he would take Here, Mr. forthwith. Burke The President at his word, responsibility and resigned of maintaining to the then, the whole thrown on Mr. Burke, the interests and of the charter forfeiture-so was disastrous to immediately brought this gentleman his own commercial This stockholders the means of teller. $45,000 from the sum to the paying of the Bank. on The run house, and gave redeem the notes and its credit $45,000 was the used Bank to was stopped, tem., re-instated. then acted as President any compensation pro Mr. Burke year without President, and still continued for one since been prosperity of the whatever. He The has success and No commercial remains so. well have known. been many since that has Bank since which.there The stock from troubles, of shaken its standing. and the Directors be at period, has $10 $75 per share, par a very short manrisen that is it claimed will for Mr. Barke's insist that time. much Bank. His supporters to dishim, place agement of the who are attempting allege as the motives are of purely those selfish, and they is in active movement follows house of the Rothschilds were formerly agents per The foreign The London house and Paris Through an for the the Canal Bank received in about $30,000 consequent agency they commercial erisis in violathis During the Revolution, acceptance the house, of bills by the the pum. recent French agreement, refused -remittances This, sion of their Canal Bank against for a time, it was drawn funds in their and possession business of the all Bank demands but promptly, usual this etrong as the credit to be able without to meet any diminution, faithlessness its and continue, the public, Owing account to of the Bank others. faeilities Rothschilds, to the and transferred to satisfied of the from their house and Paris agents Directors are through removed course, the London President and lost some n annum. Of with the present whom they have Accordingly of the thousand Bank, dollars per up their stock, so officers increase thirty are cutting the election of a as such direction to In the Rothschilds their influence in will place with of furtherance in this and the account of the allied Bank themselves by with the other friends with who object, they city, have who are charged being under the influence h moved of the ties present direction Cashier, Mr. Wilkinson, agency of Mrv Burke discovery of the Bank of the late from the Bank by the that he had unlawa out the By tors. in consequence $120,000 of the funds the President or Direc- and the active he of this the with sum, fully used knowledge of invertions either of the President some exception In this conclusion 'R the before Board or $17,000, secured. publicly admitted done any-act, in affair Mr. Wilkinson Mr. Burke had never from his position Board that any influence calculated amiss to do injury variance in with exercised President which in the was elightest degree at inthe the Bank, honor or and integrity. than are The not less public stockholders of are this which facts, terested in given statement to decide whether enabling change proposed 1. for the purpose is to of arrive view from to the the removal of the any the benefit Directors, with faithful a chroniclers of ₫ of We are best authorities. Or(r 1. President. made to 116 by the community of West New and [r. ments The whole commercial as the planters of in the having the ed d leans, as well are equally control interested of capable, upright, banks, y Southwest, Bank under the If we are to have to be carert and Canal experienced we have men. them, they opinion. ought Besides the nth fully and while supervised the by, Bank public last 11,000,000, year purchased and this as usual discounte, amount of realize better on change to the enabled the would planter have to been possible too, lo a rates which for his produce than The Canal in Bank, any work ri price under other shown a disposition to necessity. to aid It has paid thus he on has of public always benefit or in public making the New and resources Canal, for very large bonus the commerce of the Mex the adding greatly to the met a requisim. Orleans. At of the Bank the volunteers when.it at New ican war, the President of the State pay and upon urgency and tion of the Governor was refused by others; the present President unomendable in and the zeal he in occasions Directors of public have furtherance acted of the public welfi our old friend in pleased to see He has was good health Ir. CALVIN Van EDSON. Epps, of Mobile. and general favorite