7674. Louisiana State Bank (New Orleans, LA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 21, 1865
Location
New Orleans, Louisiana (29.955, -90.075)

Metadata

Model
gpt-5-mini
Short Digest
b2bb724f

Response Measures

None

Description

Multiple newspapers report the Louisiana State Bank 'suspended' (dated March 21, 1865). Subsequent 1866 Crescent articles refer to its notes among 'liquidating banks' and sales of Louisiana State Bank notes at heavy discounts, indicating the suspension led to permanent closure/liquidation. No run is reported in the sources.

Events (1)

1. March 21, 1865 Suspension
Cause
Voluntary Liquidation
Cause Details
Contemporaneous reports simply state the bank 'suspended'; later 1866 coverage treats it among 'liquidating banks', implying suspension led to liquidation.
Newspaper Excerpt
Louisiana State Bank has suspended.
Source
newspapers

Newspaper Articles (5)

Article from Cleveland Morning Leader, March 28, 1865

Click image to open full size in new tab

Article Text

FROM NEW ORLEARS. NEW ORLEANS, March 21. Thirteen barrels of flour cleared yesterday for New York and Boston. The staemship Evening Star left via. Havanna, Sunday night. Sight checks, New York, half discount. Louisianna state bank suspended.


Article from Daily Davenport Democrat, March 28, 1865

Click image to open full size in new tab

Article Text

, NEW ORLMANE, March 21, via Cairo, March 27. Thirteen thousand barrels of flour cleared 5 yesterday for New York and Boston. The steamship Evening Star left via Havana Sunday night. Sight checks on New York half per cent. discount. The Louisiana State Bank has suspended.


Article from The Weekly Pioneer and Democrat, March 31, 1865

Click image to open full size in new tab

Article Text

FROM NEW ORLEANS. New ORLEANS, March 20, via Cairo, 27. Dr. Kennedy, late editor of the True Delta, President of the Bank of New Orleans, has been appointed Mayor of the city vice Capt. Hoft, removed. New ORLEANS, March 21, via Cairo, 27. -Thirteen thousand barrels of flour cleared yesterday for New York and Boston. Steamship Evening Star left via Havana Sunday night. Sight checks on New York 1c discount. Louisiana State Bank has been suspended.


Article from New Orleans Daily Crescent, March 3, 1866

Click image to open full size in new tab

Article Text

Few Orleans Daily Quescent. New Orleans Money Market. CRESCENT OFFICE, No. 94 CAMP STREET, Friday Evening, March 2, 1866. The most prominent feature of the movement in financial circles to-day hasjbeen the decline of fully one per cent. in rates of Gold and Foreign Exchange. Gold opened dull and drooping under advices by telegraph of a decline of nearly two per cent. in the New York market yesterday. Offerings were very heavy throughout, but the demand was of an unusually restricted character, and the operations for the day have been limited to the following amounts at the prices annexed, viz: $5000 at 135;$5000 and $5000 at 1343/4; $20,000 at 134% $1000 and $10,000 at 134 1/2: $5000, $6000 and $17,000 at 1343/5; and $1000, $2000 and $3500 at 134. In Silver the only sale of any importance that transpired was $2000 American halves at 131. We now quote Gold at 134@1341/2, and Silver 130@131 for American coin, and 134@135 for Mexican dollars. Dispatches quoting a slight reaction at New York were received during the day, but failed to check the downward tendency. FOREIGN EXCHANGE has been very flat to-day. The market was more than amply supplied to meet the most general ordinary demand, while the inquiry was at no time much better than nominal, as nearly all the principal buyers still ab. sented themselves from the market, owing to the unfavorable tenor of New York advices. The transactions for the day have been restricted to the following sales, viz.: £500 at 146, £3000 at 1453. £14,000, in four lots, at 145, £6000 at 144)/@145, £1000 and £12,000, the latter taken by a bank, at 1441/2, £5000 at 1441/4 £2000, £2800 and £8000 at 144, and £2500 at 1433. Sales of Francs comprised 20,000f. at 3.883/f. 200,000f., in two lots, at 3.90f., and 100,000f. and 200,000f. at 3.91 1/f. The quotations at the elose of business this evening were: For bank sterling 147, clear bills 1443/1155/2, bill of lading bills 14314@14414, bank francs 3.821/@3.83}4. and outdoor francs 3.871/@3.92)/. DOMESTIC EXCHANGE-The movement in Domestic Exchange to-day has disclosed increased firmness, without developing, however, any quotable variation in rates. The demand at bank for sight checks on the Northern cities was active and general all day, and one of them refused, towards the close, to sell at the ruling figure of the day. Out of doors the supply of private and commercial exhibited but little, if any, increase, and the purchases by banks and bankers have been confined to the annexed trifling amounts, viz: $10,000, $20,000 and $25,000 New York sight, at % # cent. discount, $10,000, Boston do. at 1/2 78 cent. discount, and $20,000 New York and Boston, taken by one bank, at 7 cent. discount; $30,000 three days' sight at 3/2. $10,000 ten days at 2/18, and $15,000 fifteen days at 1 TO cent. discount. We now quote: New York sight at 1/4 73 cent. discount at bank, and F cent. discount out of doors; five and ten days' sight 78 cent. discount; fifteen and twenty days' sight 1@1% P cent. discount; thirty days' sight 11/2 cent. discount; and sixty days' 2 B cent. discount. STOCKS AND BONDS-The movement in securities has been quite limited since our last. The supply of favorite descriptions was light throughout, and the general run, though, as heretofore, abundant, continued neglected. The following embrace the whole of the operations that have come to our notice, via. 9 shares City Railroad Company (old stock) at 195; 50 and 50 shares do. (new stock), reported by two parties, one at 170 and the other at 180; $15,000 City Consolidated Bonds at 90: and $5000 do. at 901/2. UNCURRENT BANK NOTES-There has been a general suspension of operations in the notes of the liquidating banks to-day. Offerings were light from the opening to the close of the market, and the demand was at one time much better than nominal. Sales have been confined to driblets, and we still quote Bank of New Orleans, Crescent City Bank and Union Bank at 88@94c., Merchants' Bank at 77@82c., Louisiana State Bank at 73@76c., and Bank of Louisiana at 55@60c. TO dollar.


Article from New Orleans Daily Crescent, May 11, 1866

Click image to open full size in new tab

Article Text

New Orleans Daily Crescent. FRIDAY MORNING, MAY 11, 1866. # New Orleans Money Market. CRESCENT OFFICE, NO. 94 CAMP STREET, Thursday Evening, May 10, 1866. The Gold market has been moderately active to- day at yesterday's closing rates. Offerings, though not heavy, disclosed nevertheless, a considerable Increase of cash Gold, most of which was absorbed in the order annexed, viz: $2000 at 129½; $5000 at 129⅝: $5000 and $6000 at 129¾; $5000 at 129⅞, and $3000, $8000, $10,000 and $22,000 at 130. Nothing beyond driblets has transpired in Silver, and we still quote Gold at 129¾@130, and Silver at 117@120 for American coin, and 129@130 for Mexican dollars. FOREIGN EXCHANGE. - The only material altera- tion to report in foreign bills to-day was an ad- vance in bank drawing rates of about 1 per cent. The outdoor supply and demand ruled throughout as for several days past, of a very limited charac- ter, and the total movement, so far as sales have been verified, will be found depicted in the sub- joined statement: £500 at 137, £5000 and £8000 at 137¼, £2800 at 128½, £6000 Bank Sterling at 140, £4000 do. at 141, £1000 at 142, and some small bills over the counter at 142@143; also £1100 sold by a bank for Gold at 109. Sales of Francs, 60,000f for Gold at 5.25f, 25,000f. and 45,000f. sold for cur- rency at 4.00f, and a few other lots at our quota- tions which now rule as follows, viz: Bank Ster- ling 142@143, Clear Bills 138@140, Bill of Lading Bills 136@137, Bank Francs 3.95@3.92½f. and out- door Francs 4.05@4.00f. DOMESTIC EXCHANGE- The movement in Domes- tic Exchange still exhibits an upward tendency. Two of the banks advanced the rates this morning to ½ P cent. premium for sight checks on the Northern cities, while all of the others demanded ¾ P cent. premium over the counter, although one or more of them sold round amounts during the morning at ½ P cent. premium. Offerings of pri- vate and commercial continued exceedingly re- stricted, and the purchases by banks and bankers have been limited to the following amounts, viz: $30,000 New York sight at ½ P cent. premium, $110,000 at ½@¾ P cent. premium, $10,000 and $28,000 at ¾ P cent. premium, $50,000 and $75,000 bank checks sold to banks at the same, and $50,000 do. at 7-16 P cent. premium, $30,000 three days' sight at ¾ P cent. premium, and $45,000 ninety days' sight (a new style of bill just now) at 2¼ P cent. discount. The closing rates this evening are for New York sight ½@¾ P cent. premium at bank and ¾@1 P cent. premium out of doors. STOCKS AND BONDS-There is no material varia- tion of any kind to notice in the movement in se- curities. Offerings of most favorite securities are still very light, and the demand and prices of a few of them show some little abatement, while the lower grades, which are rather abundant, con- tinue almost wholly neglected. The following are the only actual sales of which particulars have transpired since our last, viz.: 35 shares City Rail- road Stock at 200½, 15 do. at 201, and 5, 25, 25 and 36 do. at prices that have not transpired, and 3½ shares Union Bank at 51½. No sales of Bonds have been reported since yesterday, and asking rates for the latter remain unchanged. UNCURRENT BANK NOTES-The movement in the issues of the several banks in liquidation has been almost wholly suspended to-day. Offerings were at no time much better than nominal, and the only sales that transpired were one of $100 Louisiana State Bank at 85½c., which shows a de- cline, and $300 Bank of New Orleans at 96с. per dollar.