Louisiana National Bank (New Orleans, LA)

Episode Information

Episode UID
162600809
Episode Type
Run Only
Bank Type
national
Bank ID
16260 national
Charter Number
1626
Start Date
May 14, 1867
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
30493283cc5aeb08

Response Measures

Full suspension, Books examined

Description

Articles describe a citywide run in New Orleans but do not name Louisiana National Bank specifically.

Events (4)

1. December 30, 1865 Chartered
Source
historical_nic
2. May 14, 1867 Run
Cause
Local Banks
Cause Details
Closing of the Sub-Treasury and First National Bank and announced defalcations prompted a run on all city banks.
Newspaper Excerpt
The excitement has caused a run on all the banks in the city.
Source
newspapers
3. May 14, 1867 Suspension
Cause
Government Action
Cause Details
Controller of Currency ordered the closing of the U.S. Sub-Treasury and the First National Bank; a special Treasury agent assumed charge.
Newspaper Excerpt
Closing of the Sub-Treasury and First National Bank by order of the Controller of Currency.
Source
newspapers
4. October 2, 1905 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)

Article from Gold Hill Daily News, May 16, 1867

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Article Text

OVERLAND DISPATCHES Political Meeting and Riot in Mobile. MOBILE (Ala.), May 14.-The meeting to-night which was addressed by Judge Kelly, broke up in a row. Several shots were fired. One white and two colored men were killed and a number wounded. Closing of the Sub-Treasury and First National Bank at New Orleans by Government. NEW ORLEANS, May 14. -There is great excitement in financial circles on account of the closing of the Sub-Treasury and First National Bank by order of the Controller of Currency. A special agent of the Treasury Department has assumed charge of the Sub-Treasury. Heavy defalcationsare already announced in both. L. Pilly, formerly Treasurer and President of the Bank, has made an assignment of his effects to the extent of a million and a quarter to secure Government. The excitement has caused a run on all the banks in the city. The Na tional suspended this evening. Important Suit Involving the Status of Texas During the Rebellion. WASHINGTON, May 14.-Texas against various parties-in reference to the Texas indemnity bonds issued by the United States upon the annexation, many of which were sold in New York, by the Texas authorities-was argued in the Supreme Court to-day. The question whether the de facto Government of Texas was competent to dispose of these bonds was moved, and the decision really involved the status of Texas during the rebellion. Radical Convention at Baltimore. BALTIMORE, May 14.-The Radical Convention has adopted resolutions in favor of impartial suffrage; calling on Congress to abolish all distinctions of race and color; declaring that the Constitutional Convention at Annapolis was held in violation of law, and that any Constitution framed by it, without impartial suffrage, should not be recognized by Congress and ought to be disregarded by the people. Depot Buildings Destroyed by Fire-Sale of the Dunderberg to the French Government. MEW YORK, May 15.-During the storm on Thursday night, the large depot at Plainfield, New Jersey, was struck by lightning and completely destroyed hy fire. The steam ram Dunderberg, the most powerful engine of naval warfareafloat, has been sold to the French Government for three million dollars. Leading Radicals Think there will be no Meeting of Congress in July. NEW YORK, May 15. - The Times' special says Colfax expresses the opinion that there will be no meeting of Congress in July. None of the Radicals now here, including Boutwell, Ashley, Butler and others, have any idea that A quorum will be found present in either branch at that time.


Article from The Portland Daily Press, May 16, 1867

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Article Text

NEW ORLEANS. Extensive A Panic ia Financial Circles "Irregularities" Closing of the SubTreasury and Two City Banks. NEW YORK, May 14. The Tribune's special from New Orleans May 14, says there is great excitement here in financial circles, caused by the closing of the U. S. sub-treasury and First National Bank, by order of the Comptroller of Currency.Mr. Knox, of the Treasury Department of Washington, has assumed the charge of the sub-treasury, and has closed the bank. Heavy defalcations are already announced in both.L. Pillay, formerly sub-Treasurer and President of the bank, made an assignment this morning, of his effects, to the extent of a million and a quarter of dollars, to secure the Government. The banks hold a large amount of paper of Gen. Herron, U. S. Marshal, but Mr. Knox hopes to secure this out of Herron's distillery and plantation property. Gen. Gordon Granger, Gen. Herron, Judge Whitaker, Miles Faxter and Mr. May, are the principal directors of the bank. William R. Whittaker is subTreasurer. This excitement has caused a run on all the banks, and a very stringent money market. The Bank and Treasury have been surrounded by a crowd all day. The City National Bank suspended this evening.