7622. Commercial Bank (New Orleans, LA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 1, 1868
Location
New Orleans, Louisiana (29.955, -90.075)

Metadata

Model
gpt-5-mini
Short Digest
901c57be

Response Measures

None

Description

Articles (Dec 1–4, 1868) refer to liquidators of the Commercial Bank and city resolutions to issue bonds to the liquidators to settle purchase of the water-works, indicating the bank was in liquidation/closure. No run or depositor panic is described in the provided excerpts. Classified as a suspension leading to closure/receivership (permanent).

Events (2)

1. December 1, 1868 Receivership
Newspaper Excerpt
liquidators of the Commercial Bank, bonds to the extent of one million five hundred thousand dollars ... to be paid to said liquidators, in settlement of the purchase of said Water-works, and the balance ... to be used as may by the Commissioners be deemed necessary ... (Finance Committee report, Dec. 1, 1868).
Source
newspapers
2. December 4, 1868 Other
Newspaper Excerpt
Resolved, That the Mayor, Controller and Treasurer ... be and they are hereby authorized to issue to the liquidators of the Commercial Bank, bonds ... bearing date 1st day of January, 1869 ... to be paid to said liquidators, in settlement of the purchase of said Water-works ... (New Orleans Republican, Dec. 4, 1868).
Source
newspapers

Newspaper Articles (2)

Article from New Orleans Republican, December 4, 1868

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Article Text

The accompanying resolution: Resolved, That the Mayor, Controller and Treasurer, and the Chairmen of the Finance Committees of the Common Council, be and they are hereby authorized to issue to the liquidators of the Commercial Bank, bonds to the extent of one million five hundred thousand dollars, bearing date 1st day of January, 1869, payable at thirty years date, with interest at five per cent per annum, $1,393.000, to be paid to said liquidators, in settlement of the purchase of said Water-works, and the balance, $106,100, to be used as may by the Commissioners be deemed necessary for the extension of said Water-works, subject to the approval of the Common Council before action. Was adopted unanimously on each reading, the rules being suspended, and ordered to be sent to the Lower Board for concurrence. Mr. Shields, the rules being suspended, offered the following resolution: Resolved. That a committee of two from each Board be appointed to provide for and supervise, in conjunction with the two Chairmen of the Finance Committees, the engraving and printing of all bonds of the city henceforth to be issued. This was, the rules being suspended, adopted unanimously on each reading, Messrs. Boguille and Poynot absent, and ordered to be sent down for concurrence. The following was received;


Article from The New Orleans Crescent, December 4, 1868

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Article Text

T 01 Pelative uqof most euo $ calling 01 SUM 'seSemep Total 10] The resolution of the lower board providing for table bis payment was, on motion, called from the United sprom the ano sq pepueurs pas the uo monton no pus States call 01 100 A petition of A. W. Merriam and others, billiard saloon keepers, was referred to finance committee. One from property holders on Claiborne street, 100.00 [pue] shat uo canal . jo the 04 relative no committee the 03 referred SUM ings. The following communication was received REAL ESTATE OWNERS Build- ASSOCIATION, Merchants' and Auctioneer Exchange Stairs. dn '11 ON Rood *8981 'I Dee. 'SNVATHO NEW MON 10 ally eqs 10 jo Board the Honorbble Total P I Orleans: have the honor. by order of the Board of of Di- reso, 1881 Adoo incluse 01 this 10 pley meeting regular their 18 pessed rectors [ $ Very respectfully. SAMUEL FLOWER, Secretary. P '8981 '08 *AON ORLEANS, Man Directors JO Board the JO millines more Resolved, That in the opinion of this board, issue the 01 Countili OHO the JO ordinance million dollars ($3,000,000) in bonds, will three accomplish the objects in view. It is believed ordinatio the up pepuni eq you IIIM notes the the you em puv ordination the sq pesodord the the JO action the jo III of limit 01 105 us entited, lature, indebtedness of the city of New Orleans," passed 1855, and an act to limit and equalize munici'9981 III pessed MON JO To the up the [ed at Resolved, That the ordinance is defective in not em the JO jo land the JOJ appetally Providers sujdins em Je application the 4q enset whole 'X81 pesodord eq: sq peopord income IIIM em 88 THE Resolaced that -end eq could spuoq **** emp the 4q session at eq IIem pus product pus redord st " 'pered ordinance be rescinded, and new de 10J pus persded be 108 pies 'pepunj 0.18 setou alla pies Into 1841 em Resolaced 4q Meu ou make 01 eq councill the existing мои contracts II" cancell 01 pas which have net been strictly complied with. .Adoo one V FLORER'S SANUEL Secretary. "SNOLLATIOSE Mr. Shields offered the following: Resolved, That the mayor be and he is election hereby requested to discontinue the notice for an Junther mun ordinate puoq million three em uo action by the Common Council. rale the 'pus 18.rg uo adopted SUM This the sq receipt puoces uo sdopted 'pepuedsns being : 010A John Yeas- President Markey, and Messrs. Boguille, Brady, Kaiser, Poynot, Prados, and Shields-7. It was Nays- Mr. ordered to Pessou-1. be sent to the lower board John the Pought -N 103 Resolved, That the city surveyor be and he is -000 be 04 JO authorized Pog JO corner eye 18 Crossing Seg 8 structed bereby em JO 1800 the states Delia pus serve *091$ peesxe you seed seme pus streets uo committee em 01 referred SEM Which The following three, by Mr. Kaiser, were refer. same the 04 red Be it resolved, That the controller is hereby au exten the notice ever after ""II" 01 thorezed 8108 pus Jackson mistres equal JO surveyor. City the 10 secilistions the 04 secording streets parting Resolved, That the street commissioner be and placed, be 01 esneo 10 place, 04 instructed 48 pus Mashington JO corner the 18 hereby si 8 Thomas streets (southwest corner.) hereby s! eq pus eq MAROT em 184L Resolaed 01 notary ally the before 108 us transfer authorized the to sign contract of John Fitch, for repairing the JO streets person em -mad SB Milter 'a "I 01 District repair First III beendad 'prem pus third securities remaining the same; Provided, 108 This notal pus Printing JO 1800 pays Mille 'a Я pies SUM Katisty ** 4q The " mained being rule equal required cash no adopted pus absent, Baing Brady Will that JOJ was ordered to be sent to the lower board Resolved, That the city surveyor be and he is the repatr 01 pus anthorized .0.ld District puoces Market Beer the hereby 10 *001$ peeoxe you seep eurss JO 1800 the papia 1001 REFORTS* The following was received FINANCE COMMITTEE ROOM, q '11"H AND 23 'ON '8981 'I *pert MeN id To the Honorable the President and Members of the Beard of Aldermen: Gentlemen- Your finance committee beg leave 1 Bauk Commercial the Jo Jollow SV report 01 08 1000ms the pred be 01 the N°N "O Mater the jo Durchase the JOJ and 49 them 10 18 due committee report favorably by a the 01 spuoq jo enser the Joj Providid gour -10p pussnoqi eag millinon ene 10 3 ars, amount payable in thirty years The and total net bearing five indebted- per OA ent. of the interest city per to the annum. Commercial Bank is- being snq eq 01 spuoq eys JO resident eqs '006 399 set about $106,100, to be devoted, after JO exten the 01 **010 'spuoq JO enss! JO 0001 Bey 'pen us vater. Addns the JO increase pus SHIOM the JO not un Respectfully submitted, TH. R. BRADY, Acting Chairman Finance Committee. POTTOT 'O VICTOR PRADOS, The accompanying resolution: Resolved, That the mayor, controller and treacommittees consuy the JO chairment em pus urer. the Common Council, be and they are Com hereby f uthorized to issue to the liquidators of the eag million euo JO there the 01 spuoq Bank ercial undred thousand dollars, bearing date 1st day with of Tep '006' date. Tears thirty 18 payable *6981 BUI anuary, at five per cent. per annum, 393 the terest to said liquidators, in settlement of Joj be paid of said Water Works, and the balance, ide 01 pies eq: 4q Asm se pesn eq 01 urobase din 106,100, deemed necessary for the extensions of Comtior the JO spproval the 01 Morks, ater Council before action, pus [10 our dose no sdopted "M no Bar 01 sent . be 01 order pus 'pepuedsns being e lower board for concurrence. 18 01 Mr. Shields, the rules being suspended, offered : resolttion John e SSI Resolved, That committee of two from each supervise the pus 10J provide 01 be tion JO Jo chairment OM1 the THE pus the THIS *penser eq 01 oney the jo sprioq d paidops 'popuedens saini am 'SEM 12, This animously on each reading, Messrs. Boguille Rac имор ques eq 01 ordered pus absent Poynto P D. The following concurrence. was received d FINANCE COMMITTEE, Hut New Orleans, December 1, 1868. jo prog 20, -01 SEM woum 01 committee eq: the petition of Pierre Soule, Esq., represent Dup others -qns pus T JO befree em jo entits red em the Riven BUIARY Orders MON jo the 4S City matter a thorough investigation and after -qns the JO em ature 10 report: 01 Seq requires 10 the property in dispute fronts on Dryades d uo [ 1001 SUM 1288 JO quoij pas depth 8 sq feet 240 18q. tee