Continental Bank & Trust Company (New Orleans, LA)

Episode Information

Episode UID
14007071598
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
1400707 routing
Routing Number
14-0070
Start Date
February 7, 1933
Location
New Orleans, Louisiana (29.955, -90.075)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
79caacc9bc339617

Response Measures

None

Description

A mild run in Feb 1933 is documented; by Dec 1933 the bank is reported in liquidation, but intermediate suspension details are not fully reported.

Events (2)
1. February 7, 1933 Run
Cause
Rumor Or Misinformation
Cause Details
Uneasiness among depositors attributed to unfortunate public utterances and local publicity; Senator Huey Long arranged government backing.
Measures
Federal government/RFC and other banks extended aid; banks kept open and withdrawals honored (kept open until 6 p.m.; funds pledged to insure depositors).
Newspaper Excerpt
A mild run on the Continental Bank and Trust Company led to Long's announcement.
Source
newspapers
2. December 21, 1933 Other
Newspaper Excerpt
The Continental Bank & Trust Company of New Orleans is in liquidation. The Liquidator discovered there several postdated checks ... dated May 1, June 1, July August and September 1, 1933.
Source
newspapers

Newspaper Articles (4)
1. February 7, 1933 The Pittsburgh Press Pittsburgh, PA

Article Text

NEW ORLEANS, Feb. 7—Senator Huey P. Long announced today in Washington he had the "banking situation under control" in New Orleans. The "Kingfish" said he had secured from the Federal government pledges to extend sufficient money to insure that no New Orleans depositor would lose a dollar. A mild run on the Continental Bank and Trust Company led to Long's announcement. All New Orleans banks were kept open until 6 p. m. yesterday. They will be kept open as long as a depositor wants his money, it was announced.

2. February 7, 1933 The Times-News Hendersonville, NC
Article from The Times-News, February 7, 1933

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Article Text

NEW ORLEANS BANK SITUATION QUIETED NEW ORLEANS, Feb. 7.-- (UP)-Announcement during the night by Senator Huey Long that the federal government and other banks had aided the Continental Bank and Trust company which experienced a mild run on Monday quieted the financial situation here today.

3. February 8, 1933 North Platte Daily Telegraph North Platte, NE

Article Text

NEW ORLEANS BANK WEATHERS HEAVY RUN New Orleans, Feb. 8, (AP)Fortified by reconstruction finance corporation loans, the Hibernia bank and trust company, one of New Orleans largest banks, and the Continental Bank and Trust company, which were subjected to flurry of withdrawals, had safely weathered the gale today, their officials said. Disappearance of all customers for withdrawal or deposit by 6 o'clock last night led banking circles to conclude that confidence had been restored. Financial leaders pronounced the entire New Orleans banking district in sound condition and in public notices laid the uneasiness among some depositors to "unfortunate public utterances. The Hibernia bank was backed with its $20,000,000 Moan from the reconstruction finance corporation in addition to $4,000,000 cash reserve raised by the bank.

4. December 21, 1933 The American Progress New Orleans, LA

Article Text

famous shotgun injunction judge, has been given a great deal of publicity lately for his reputed stand for square dealing in all things concerning men and affairs. Judge Tycer is a prominent member of the New Deal League, of which Judge H. C. Drew of Minden, is the president. Some weeks past the American Progress unearthed the raw deal Judge Drew had pulled off on the New Deal in giving seven salary warrants to the government and then countermanding their payment and drawing the money himself. Since that time nothing further has been heard from the president of the New Deal except that Judge Drew did call a meeting of his association which is said to have been attended by three members, at which the judge abandoned his plan to deliver a speech. Follows Judge Drew Now it seems that Judge Nat B Tycer is the right man to be following with Judge Drew in the new deal. He seems to know something about the bank business himself. The Continental Bank & Trust Company of New Orleans is in liquidation. The Liquidator discovered there several postdated checks given by Judge Tycer to cover his account. These checks are dated May 1, June 1, July August and September 1, 1933. When the time came for the checks to be paid they were deposited and run through the bank on which they were (Continued on Page 2; Col. 2)