Whitney National Bank - New Orleans, LA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 3069
Charter Number: 3069
Start Date: November 11, 1890
Location: New Orleans, Louisiana (29.955, -90.075)

Metadata

Model: gpt-5-mini
Short Digest: ea16768a

Response Measures

None

Description

Article (Nov 13, 1890) reports assignment of Charles M. Whitney & Co. to Mr. Quintard representing Whitney National Bank of New Orleans, indicating failure and placement in receivership/assignment. No run or depositor panic is mentioned; the bank was assigned (closed). Date of assignment reported in NY dispatch as Nov 11, 1890.

Events (2)

1. October 26, 1883 Chartered

Source: historical_nic

2. November 11, 1890 Receivership

Newspaper Excerpt: Charles M. Whitney & Co., represent here the Whitney National Bank of New Orleans and some other southern financial institutions. They have assigned to Mr. Quintard.
Source: newspapers

Newspaper Articles (1)

1. November 13, 1890 Delaware Gazette and State Journal Wilmington, DE

Article from Delaware Gazette and State Journal, November 13, 1890

Click image to open full size in new tab

Article Text

PANIC IN WALL STREET. Heavy and Steady Decline at the Opening of the Exchange--Money at 20 Per Cent and Very Tight--Vanderbilts Buy Heavily of Union Pacific. NEW YORK, Nov. 11-Wall street, 11 a. m.-The early London prices this morning were all materially higher than our figures of last evening and this market followed with advances of from 1 to 2g per cent, St. Paul, sugar and L. & N., showing the greatest gains. There was some hesitation for a short time when a perfect flood of stocks were quickly poured out upon the market and prices were quickly going downward at a most rapid rate. The Willard stocks seemed to bear the brunt of the attack and North American especially was subject to a severe twist and from 274 at the opening it dropped suddenly to 211. Northern Pacific preferred followed with a loss of 3 per cent. Richmond and West Point preferred and Illinois Central each 21, Chicago gas 21, Rock Island 21, St. Paul, Lackawanna and West Virginia each 2 per cent, and the rest of the list from 1 to 2 per cent generally. The appointment of the receivers for the sugar trust acted as a stimulant to that stock and it was advanced from 55 to 571 in the face of the weakness in the regular list, and was maintained at about 56 for the remainder of the hour. The low prices brought in more buying, however, and the force that opened the market up began again to show its influence and a smart rally took place. The strongest stock on the list was Union Pacific, which failed to go below the opening figure, and with the rally advanced to 48 against 44 at the opening. The rest of the list generally regained the early losses, and in almost every thing except the Villards, fractional advances were scored. Illinois Central rose to 92 against 90 at the opening, and 88 at the lowest. The market at 11 o'clock was still very active and unsettled at the improvement. After the announcement of the failure of G. M. Whitney and the break in North American the market rallied on the receipt of private cables announcing that £3,000,000 in gold were on the way to London from the continent and that money was easier in that centre. The Vanderbilt brokers were heavy buyers of Union Pacific. Charles M. Whitney & Co., represent here the Whitney National Bank of New Orleans and some other southern financial institutions. They have assigned to Mr. Quintard.