New Orleans National Bank (New Orleans, LA)

Episode Information

Episode UID
177801124
Episode Type
Run Only
Bank Type
national
Bank ID
17780 national
Charter Number
1778
Start Date
August 9, 1893
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
349646473c08deb6

Response Measures

Accommodated withdrawals, Partial suspension

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

Events (3)

1. January 30, 1871 Chartered
Source
historical_nic
2. August 9, 1893 Run
Cause
Local Banks
Cause Details
Run began on other New Orleans institutions (Germania Savings Bank) and contagion/shortage of currency prompted depositors to withdraw funds citywide; speculators withdrawing currency exacerbated the shortage.
Measures
Clearing-house limited currency withdrawals to $50 per day and substituted clearing-house certificates for larger amounts; enforcement of sixty-day clause by savings bank managers.
Newspaper Excerpt
Probably $50,000 has been withdrawn from us ... President Baldwin, of the New Orleans National Bank
Source
newspapers
3. July 15, 1919 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (3)

Article from Richmond Dispatch, August 10, 1893

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Article Text

NEW ORLEANS BANKS. A Run Disposed Of--ClearingHouse Action. [Bytelegraph to the Dispatch.] NEW ORLEANS, August 9.-A run was started yesterday on the Germania Savings Bank, and all who came were promptly paid. When the doors of the Germania were opened this morning there was a motly group of people waiting on the outside with their depositbooks grasped tightly in their hands. They had not heard of the new order of things. Last night the Savings Bank managers decided to enforce the sixtyday clause. This action has apparently had the effect of allaying the fears of depositors and the run has ceased. The Clearing-House Association at a meeting to-day agreed to hold currency as much as possible and to carry on business more largely with checks. No depositor will be allowed to withdraw more than $50 per day in currency, but the banks are issuing clearing-house certificates for the remainder. Money may be deposited for withdrawal. Speaking of the financial situation President Baldwin, of the New Orleans National Bank, said: "I suppose that each of the leading banks in the city has been affected by the present trouble to a slight extent. Probably $50,000 has been withdrawn from us and a similar amount from other large financial institutions here. Some of the businessmen and timid depositors were alarmed and withdrew their money quickly. But instead of losing in the aggregate of business we have been gaining, and there is unlimited confidence in the sound condition of the New Orleans city banks."


Article from The Morning News, August 11, 1893

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Article Text

THE BANKS' ACTION APPROVED. And a Revival of Confidence at New Orleans. Now Orlenns, Aug. 10.-The commercial community uniformly approves the action of the clearing house banks in deciding to limit cash withdrawals to $50 per day. Secretary Hester, of the stock exchange, says that there was an apparent feeling of confidence where yesterday there had been distrust. At the stock exchange there was a slight increase in Crossman bonds, and operators generally attributed the improvement to the action taken yesterday. President Walmslee of the Louisville National bank said that any business man with powers of analysis has known for some time that the bank ultimately, must be driven to the action taken yesterday. ALL ALIKE NATURALLY AFFECTED. The shortage of money, he says, will affect all interests, rich and poor in proportion, but he believes that the limitation of currency withdrawals will obviate the necessity for the suspension of work on the part of the factories, and that thereby the laboring element will be directly interested. President Baldwin, of the New Orleans National, does not think the laboring classes will be hurt to a serious extent. IT ALL DEPENDS ON CONGRESS. Mr. Baldwin says the present condition of affairs will continue in New Orleans SO long as congress neglects to take hold of the money question. Normal conditions will be restored when congress acts definitely. Leading country bankers from the Mississippi Yazoo Delta, in this city to-day express approval of the action taken yesterday. It largely affects them and serves to restore confidence in the city. The action of speculators, in withdrawing currency to be sent at & premium, and the fact that the supply of New Orleans was being steadily reduced, hastened the action of the clearing house association in limiting currency withdrawalsto $50 per day and substituting clearing house checks for currency in general business transactions.


Article from The Pascagoula Democrat-Star, September 15, 1893

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Article Text

Editorial and Otherwise. It will take 80,000,000 to move the cotton this fall. Grover Cleveland seems to be boss of the situation. "Silver lining" has gotten to be an obsolete expression. Hon. Hamilton Fish, ex-Secretary of State under grant. is dead. Many fond parent does not get to sleep until after the bawl is over. In all countries more marriages take place in June than in any other month. Some people are like poor umbrellas. They keep out the sunshine and let in the rain. The President only had tooth pulled and tion. it was magnified into a great surgical operaThe Democracy may be lacking in "sand" just now. but the people are all "out for the dust," and will have it. The Salt sea. which once covered the Yuma desert. was the home of oysters from 14 to 20 inches in diameter. Every man in Congress has scheme for increasing the circulating medium, except those who would contract it. The Clarion-Ledger suggests a "teachers' excursion" to the World.s Fair, to take place about the middle of October. The Constitution of the United States says Congress shall have power to coin money. regulate the value thereof.ete. A cow in Adrian county. Missouri, which lately lest her calf. has adopted and tenderly cares for small pig. said. The woman of the world is: queen matters little where you find her. If she It be mistress of herself. she is a ruler of men A newspaper in the Lone Star State speaks of "lady negro dentist." Civilization beyour the Rio Grandeis paralyzingly rapid. The Boston Herald thinks that the most "pressing need" nowadays is omething that ators. will squeeze the wind out of the financial Anniston. Ala., commenced shipping iron to Derby, England, by a regular New pig Orleans week. line of steamers the first part of the J.C. Riette, of Jackson. proposes to publish the military annals of the State. He calls rosters. on Confederate captains for records and Says the philosopher of the Summerville, Ga., News "Don't forget that while you are hustling round after dollars the devil is hustling around after you. The island where Robinson Crusoe monarch of all he surveyed is now inhabited was by about 60 people. who attend the herds of cattle that graze there. h. The outlook in New Orleans and in all cities in the cotton States is rapidly improving. The New Orleans banks expect to re sume full payment very soon. A seventeen-year-old boy at Holly Springs whe plead guilty to assaulting a five-yearg old for girl, was sentenced to the penitentiary ten years by Judge Johnson. le. that The police of Atlantic City have decided cigar the nickel-in-the-shut-machine run stores and saloons are gambling ar- by rangements and are raiding them. and While SO many women are devoting time it thought to woman's rights and woman's wrongs. some of them are forgetting that favorite old study of woman's duty. William B. Hornblower, of New York. said. will be appointed to fill the S. Supreme Bench, caused the the late Samuel death the The U. of report Blatchford, vacancy on by that girl curling her hair South Chicago, started the recent has been disproved and the , tion riety there secured conflagra- noto by Mrs. O 'Leary's cow has not been divided. A button which, it is asserted, was cut S, brave the coat of Stonewall Jackson when from the soldier fell mortally wounded Chancellorsville, Miss is in the possession of Bockius, of Richmond, Va. The Greenville Democrat says that the sidering itor of the Eupora Progress is seriously lication the matter of discontinuing trying of the paper for glory and playing poker for a living. 1 John Senator C. David B. Hill and Representative Black have both ot., the Federal elections law. of this country home giv repeal thought people the introduced rule. and bills t It repeal. to there will be no serious oppositio and billthe The Bland total cotnage of silver dollars tal act of 1878 way 389,933,374. unde S by known as the Sherman the act. act of July 14. 189 29,455,606. coinage under has amounted The in There are 59,178,000 silver dollar circulation. P. ly Mistletoe grows more luxurlantly In swamps where of Arkansas. perhaps, tl on part railroad in the the of else Gould in the country. A lady northeaster than travelli an mistletoe that State, counted fifteen clumps on single oak tree. NEVER HAPPY. When the sun is heatin'. Makes us sweat and When the rain comes beatin'. from Thin we're goin' to drown Ain't no use in tryin' Folks down here to THE Foamin' when they 're please fryin' An' fussin' when they freeze attention A lawsuit which is attracting consideral Peek in Chattanooga is that HS. against the Knoxville of W. was killed by cold all ning was road is responsible, claims Peck's the wife attracted lightning. and Southern s the erus is of by its telegraph one the queerest suits ever filed. L. the The scarcity Lake Charles Commercial T. of money has not reports lumber industries in that full and rice mills are All t business time, shingle section. affected running and their hands are deal regularly every month. receiving th รจ building is in earnings of progress. Besides sissippi Prof. Blenett Lee, a graduate of Miss.. and Agricultural College. of Starkvi Law also graduate of the ber of School, has just been elected Harva faculty of the me mild. son of Law School. of Chicago. versity the the Northwestern Prof. L the Lee, distinguished Gen. College. president of Mississippi Agricultu Stephen TY of the around Senator my Voorhees "I appeal body to th