7614. City Bank (New Orleans, LA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 8, 1867
Location
New Orleans, Louisiana (29.955, -90.075)

Metadata

Model
gpt-5-mini
Short Digest
3b4026aa

Response Measures

None

Description

Contemporary reports (May 1867) state the City Bank of New Orleans 'failed' and was 'suspended' and commenced paying depositors pro rata. Multiple articles mention concurrent suspensions of other New Orleans banks, indicating a local banking distress rather than a rumor-driven, transient run. No reopening or receivership is reported in these articles; wording ('failed', 'suspended', 'paying depositors pro rata') suggests permanent failure/closure.

Events (2)

1. May 8, 1867 Suspension
Cause
Local Banks
Cause Details
Suspension occurred alongside failure/suspensions of other New Orleans banks (First National Bank and Bank of Commerce), producing general distrust in financial circles in New Orleans in May 1867; articles do not attribute event to a discrete rumor or corrective misinformation or to government action or voluntary liquidation.
Newspaper Excerpt
The City Bank of New Orleans failed yesterday.
Source
newspapers
2. May 22, 1867 Other
Newspaper Excerpt
The suspended City Bank, of New Orleans has commenced paying depositors pro rata.
Source
newspapers

Newspaper Articles (3)

Article from The New York Herald, May 9, 1867

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Article Text

I NEW e livery to Fernando Wood of the leases, they being as the time completed and signed by Mr. Connolly. The old Hackley street sweeping contract turned up yesterday in the Supreme Court, Chambers, on a motion in the case of Devlin vs. Hope, to vacate an order setting aside the authority of the receiver in the action to sue for damages. The right of action is vested in Devila by Hackley, through assignment, and the plaintiff sues for $100,000 damages. Decision reserved. An action was commenced in the Supreme Court, Clr. cuit, yesterday, by Sichel, Alexander & Co., of Manches ter, England, against Waterhouse & Co, of this city, to recover the sum of £213 88. 9d. sterling, for goods purchased in 1864. The case involves an interesting question in regard to the payment of drafts made payable no British bankers. Case still on. In the Supreme Court, Circuit, Part 2, yesterday, out of a panel of one hundred and fifty jurors, but eighteen were available, the remainder being foreigners with unpronouncable names or persons affected with blindness, doafness or other physical disqualifications. The Court ultimately requested the Clerk to beg the Sheriff not to send all the malformed or disqualified men in New York to serve as jurors. On Monday last this branch of the court was compelled to adjourn for the same reason, as but nine jurors were qualified out of a panel of one hundred. In the Court of Common Pleas an action was commenced yesterday by John T. Lord, et al. against Thomas Greggie, for the recovery of $5,825 40, which the plain tiffs claim is due them as forfeiture, and on account of salary overpaid to defendant, who was manager of a department of plaintiffs' business, and left their employ be. for the expiration of his term of service. Caso still on The North German Lloyd's steamship America, Cap tain Meyer, will sail from the Bremen pier, Hoboken, to-day (Thursday), al 12 M. for Bremen via Southamp ton. The mails for the United Kingdom and the Conti nent will close at the Post Office at half-past 10 M. The Atlantic Mail Steamship Company's steamer Morro Castle, Captain R. Adams, will leave pier No. 4 North river at 3 P. M. to-day (Thursday), for Havana. The Cuban mails will close at the Post Office at 2 o'clock P. M. The stock market was unsettled yesterday, but closed strong. Gold closed at 137% a 138. The inclemency of the weather tended to check transactions somewhat, still in some commodities a fair business was consummated, and at full prices, in some cases at higher prices. Coffee was steady. Cotton was dull and lower. On 'Change flour was moderately active and firm. Wheat was steady. Corn was 1c. a 2c. lower, while oats advanced 1c. 2c. Pork closed steady. Beef was firm. Lard was steady with a fair demand. Whis key was dull and nominal. Freights were unchanged. Naval stores were dull and heavy. Petroleum was a shade lower. MISCELLANEOUS. Chief Justice Chase issued a writ of habeas corpus yesterday, requiring the persons having Jeff. Davis in charge to deliver him up to the Circuit Court of the United States for the District of Virginia, at the next term of such court in Richmond, on the second Monday in May Advices from Japan to April 4 have been received The French Minister had returned to Yokohama from Osaka. Captain Hatfield, of the American bark Swal. low, was drowned at Yokobama Yellow fever and small pox are reported at Nassau, New Providence, no efforts being made to quarantine the vessels on which the cases have appeared. The South Carolina Republican State Convention was held at Charleston on Tuesday night. The delegations were all dusky, only one white man. Marshal Epping, being allowed to participate in the proceedings. Ad. dresses were delivered, one of the orators being a Miss Hooper. colored. The Maryland State Constitutional Convention met yesterday at Annapolis, and organized by electing Richard B. Carmichael, of Queen Anne's county, permanent chairman Congressman Ashley, it is said, has been closeted with Sanford Conover, the purjurer, several times during the last few days, and the belief is current that he is trying to obtain some evidence from him sending to favor his plan of impeachment. Governor Orr, of South Carolina, interests himself in the emigration of New Hampshire people to his dominions. Senator Wilson spoke at Augusta, Ga. yesterday. the audience, as usual. being of a variegated complexion. He was introduced by a former captain of rebel artillery, and in the course of his speech again threatened confiscation IC the freedmen were oppressed for voting as they might think proper. Hon Elijah Hise, late democratic member of Congress from Kentucky, who was re-elected to that position on Saturday last, committed suicide at Russellville, Ky. yesterday, by blowing out his brains with a pistol, because his advanced age prevented bis doing bis country any more good. In the trial of Winnemore for the murder of Mrs. Ma gilton, now in progress in Philadelphia, counsel for the prisoner sets up the defence that his client is at times insane, and, as a spiritual medium, does many curious things. Several witnesses, relatives of the prisoner, testified that be saw spirits plainly, and was almost always under their Influence. A colored conservative addressed the freedmen at Augusta, Ga. on Friday, and abused the Loyal Genrigian newspaper in such terms that his audience became indignant, and it was necessary to give him an escort to save him from violence at their hands. A mob in Taylor county, Ky., hung a man named Gebhart on Monday, alleging as a reason that he was murderer and pest to society, whom the quibblers of the law have prevented receiving his just dues. The office of the Treasurer of Baltimore county, Md. was robbed of $7,000 on Tuesday night. The master mechanics and manufacturers of St. Louis held a meeting yesterday, and refused to accept the eight hour work and eight hour pay proposition of the strikers. A fire occurred in Memphis yesterday by which the United States infantry barracks and the quartermaster's a storerooms were destroyed, a private soldier killed and young lady perhaps fatally injured. Loss $200,000. Four men fell from a scaffold in front of the nfth story of the old Lindell Hotel, in St. Louis, yesterday, one of them being killed instantly, and the rest severely in. jured. A Presbyterian delegation from Scotland and Ireland are on a tour through the United States 1 A wool growers' fair is in progress at Auburn. The Winooski and Kanawha were at Key West on the 1st inst. ) The City Bank of New Orleans failed yesterday. 3 The Ninth of May.


Article from The South-Western, May 22, 1867

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CARD. SHREVEPORT, LA., May 20, 1867. Messrs. Editors South-Western : Gentlemen-As many reports are and will, doubtless, be in circulation regarding financial affairs in New Orleans, having their origin in the suspension of the City Bank, the First National Bank and the Bank of Commerce, causing distrust in financial circles, I would state, as agent for the well-known and popular house of JOHN PHELPS & CO., that they are not in any way involved with these parties or others, and that I am amply prepared to make liberal CASH advances upon any amount of shipments of cotton or other produce to this house. I am also prepared to make liberal CASH advances on all cotton consigned to me for sale. D. B. MARTIN, Cotton Factor and Agent. my22 It


Article from The Fairfield Herald, May 22, 1867

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Mobile is in raptureover Forrest's Richelieu. London has twenty-three theatres and twenty-nine music halls. The St. Louis Republican is out in favor of negro suffrage. The Right Rev. Bishop, J. 11. Davialle, of Kentucky. is hopelessly ill, Extreme unclion has been administered to him. A Chicago book-keeper returns a larger income than that of the firm combined, the being one of the largest in the city. Cuembers sold in the Cincinnati market on Wednesday morning for fifty cents each. France has now 50 iron clads-the most formidable navy in Europe. The Republican party in Maryland will adopt n negro suffrage platform. The printers in Chiengo have not taken part in the eight-hour movement, Phineas T. Barnum advertises hisresidence at Bridgeport, Ct., for sale. The suspended City Bank, of New Orleans has commenced paying depositors pro rata. It is proposed to celebrate the tercentena ry of Rugby School, in England, which will fall in this year. In Portland, Mo., the druggists 010 not allowed to sell alcoholic liquor, even for the uso of sick people. It is paid that n Pittsburger has prepared his room with certificates of oil stock, which originally cost $50,000. A $20,000 breach of promise case-Beline da B. Elms against Daniel D. Kelly-is on trial in Boston. The Mayor of New Orleans has issued an order for the closing of the gambling hous. in that city. Judge Hutching, of the Western Georgia Circuit, has pronounced the Stay Law of that State unconstitutional, Thousands of eattle, sheep and horses have been drowned by the crevasses in the Mississippi, below New Orleans. Rev. .1. H. Bromley, age. 97, has just resigned the vicarage of Holy Trinity, in Hull, England, after holding it for 70 years. A small gold brick valued at $500, has been received in New Haven from the North Carolica mines. The St. Louis Republican, the leading Democratic paper of Missouri, seems to favor negro suffrage. It estimated that Chicago will not refarm more than one-fourth the income this year that it returned last year. Strawberries measuring four inches in circumference have appeared in Mobile Judge Edmonds estimates the number of spiritualists at about 1,000,000. Times are so dull in Bowling Green, Ky that hens lay last year's eggs. Young John Brown, the son of old John Brown, is living at Put-in-Bay, on Lake Crie. The price of bread in New York is higher now than ever was known before, certainly for the last sixty years. Damages to the amount of $7,000 have been obtained in New York for injuries resuiting from the negligence of a conductor in not allowing a passenger time to alight from a horse car. (is proposed in various quarters-Republican as well as Democratic-to impeach and remove judge Underwood, for his re. cent charge to the grand jury in Rich. mond. The St Louis Republican says n better feeling prevails with regard to the prospeats of business in the West. Stocks of goodsbring extremely good profits, and crops never looked better. Spurgeon makes the periodical pauses in his sermining to allow his audience to cough and expectorate, otherwise relieve their feelings without disturbing one another. Benzil has abolished negro slavery, and the Radical papers are rejoicing over it extensively. Yet they are doing all they can to enslave white mon. Last year there was 330,501,500 pounds of tobacco produced in the United States, a fall off of 101,000,000, as compared with the crop of 1860. Orders have been received at (he United States Army. in Springfield, for a large and immediate inere in the production of th breech-londers of the latest model. The forco of workmen will be greatly enlarged, and the old muskets remodeled at the rate of 500 or 600 per day. It is said of Judge Hisc, of Kentucky, who killed himself recently, on account of the unsettled condition of the country, that suicido ran in his family. His father disemboweled himself, some years ago, in Russollville, Ky., and he ha also an cecen. tric brother, named Joseph Hiso, who jump. eil from n vessel, between New Orleans and Havana, and was drowned. In about n fortnight n party of three men and n boy will sail from Baltimore for Havre. Their vessells schooner-rigged, about two tons burden, twenty-four feet four inches long. two feet four inches depth of hold. with seven feet beam. That is. about haifas large no the Red, White and Blue Besides, she is not metalio. It is designed, after exhibiting her in Paris, to present he to the Prince Imperial. France and Prussia have already began to carry out the provisions of the London Con fevence. France has dismis ed the reserves which had been called out, and Prussia hss ordered work on the certifications of Luxemburg to be stopped. The Crown Prince of Prussia will visit the Paris Exhibition in