State National Bank - New Orleans, LA

Episode Information

Episode UID: 177401161
Episode Type: Run → Suspension → Unsure
Bank Type: national
Bank ID: 17740 national
Charter Number: 1774
Start Date: September 12, 1896
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: 47b78d6817813304

Response Measures

Partial suspension

Other: Per-day payout limit ($100/day) imposed by Associated Banks to restrict withdrawals.

Clearinghouse involved: Yes (loan, examination, or other measures)

Description

Article describes a city-wide panic and system-wide measures but does not name this bank or its ultimate fate.

Events (4)

1. January 20, 1871 Chartered

Source: historical_nic

2. September 12, 1896 Run

Cause: Macro News
Cause Details: Small depositors alarmed over the political situation triggered withdrawals from banks across the city.
Measures: Associated Banks adopted rule of not paying more than $100 per day to any single depositor.
Newspaper Excerpt: The run on all the banks began originally when small depositors alarmed over the political situation commenced to withdraw their money from circulation.
Source: newspapers

3. September 12, 1896 Suspension

Cause: Macro News
Cause Details: City-wide panic over political situation and runs prompted banks to limit daily payments and invoke a sixty-five day clause (partial suspension of payments).
Newspaper Excerpt: the Asosciated Banks at a meeting held on Wednesday night adopted the rule of not paying more than $100 per day to any single depositor, and late the same night all the principal savings banks adopted sixty-five day clause.
Source: newspapers

4. January 30, 1908 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. September 12, 1896 The Daily Morning Journal and Courier New Haven, CT

Article from The Daily Morning Journal and Courier, September 12, 1896

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Article Text

This is the fourth New Orleans bank that has failed within a few days. Only yetserday the Mutual National bank closed its doors. On Wednesday the Union National did the same thing, and it in turn had been preceded by the American National. The result has been that the city is on the verge of a panic, especially in banking circles. There are many rumors that dishonesty has been discovered on the part of officers of two of the banks, and this tends to add to the panicky feeling that is continually becoming more evident. The Asosciated Banks at a meeting held on Wednesday night adopted the rule of not paying more than $100 per day to any single depositor, and late the same night all the principal savings banks adopted sixty-five day clause. It was thought that this action would enable the banks to withstand the panic, but the failure to-day will probably make it necessary that they adopt other and more stringent measures. The run on all the banks began originally when small depositors alarmed over the political situation commenced to withdraw their money from circulation.