American National Bank (New Orleans, LA)

View Charter #3978 on SPMC View balance sheet

Episode Information

Episode UID
397801160
Episode Type
Run β†’ Suspension β†’ Closure
Bank Type
national
Bank ID
39780 national
Charter Number
3978
Start Date
August 10, 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
f0276e7f3b76491a

Response Measures

Borrowed from banks or large institutions, Clearinghouse loan, Partial suspension, Full suspension, Books examined

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

Receivership Details

Depositor recovery rate
23.1%
Date receivership started
1896-09-10
Date receivership terminated
1902-08-12
OCC cause of failure
Fraud
Share of assets assessed as good
28.2%
Share of assets assessed as doubtful
7.4%
Share of assets assessed as worthless
64.4%

Description

Contemporary reports implicate officer embezzlement; receivership appointed Sept. 10, 1896.

Events (5)
1. February 14, 1889 Chartered
Source
historical_nic
2. August 10, 1896 Run
Cause
Bank Specific Adverse Info
Cause Details
Failure revealed corrupt condition/defalcation by officers, triggering depositor runs in the city.
Measures
Associated banks agreed to support members; clearing house limited payments to $100/day and savings banks adopted 60-day notice (city-wide measures).
Newspaper Excerpt
This policy was decided on in consequence of the failure of the American National Bank last week, and a mild run on one of the banks to-day.
Source
newspapers
3. August 10, 1896 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors halted payments and moved to liquidate after suspension following revealed mismanagement/embezzlement.
Newspaper Excerpt
The American National bank failed to open today. The directors have decided to go into liquidation.
Source
newspapers
4. September 10, 1896 Receivership
Source
historical_nic
5. September 10, 1896 Receivership
Newspaper Excerpt
Comptroller Eckels has appointed J. L. Richardson receiver of the American National Bank, New Orleans, which failed several weeks ago.
Source
newspapers

Newspaper Articles (23)
1. August 6, 1896 Las Vegas Daily Optic Las Vegas, NM
Article from Las Vegas Daily Optic, August 6, 1896

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Article Text

FINANCIAL FLURRY Five Banks Succumb to the Hard Times. The Chicago Situation Unchanged, , A BIG ILLINOIS BLAZE Twenty Lives Lost and $1,000,000 of Property Destroyed in Nicaragua. OTHER ITEMS OF INTEREST NEVADA, Mo., August 6.-Sheriff Scroghem closed the Cookling Broth. ers' banking house in this city, to-day, the Bank of Bronaugh, Bank of Sheldon and Bank of Richards, all the property of Conkling Brothers, by virtue of an injunction from the Vernon county circuit court. I. W. Conkling, of the firm, says that the closed banks will be able to pay every dollar of indebtedness. J. L. George and C. M Shartel were appointed to take charge of the firm's business as receivers. ECHOS OF THE MATCH FAILURE. CHICAGO, III., August 6. - The opening of the stock exchange is still waiting on Moore Bros., and the report of the sub-committee governing that body as to the condition of the diamond Match properties held by the suspended firm. The governing committee will meet at 3. o'clock, to-day, and will receive any report whieh the sub. committee may have. CARPET DEALERS ASSIGN. PHILADELPHIA, Pa., August 6.Boyd, Harley & Co., carpet dealers, assigned to-day. Liabilities $250,000; assets $350,000. ANOTHER FAILURE. WASHINGTON, D. C., August 6.-The comptroller of currency IS inform. ed of the failure of the American National bank of New Orleans. It had a capital of $164,000, and according to the reports to the comptroller, owed its depositors $350,000, and had borrowed $160,000.

2. August 11, 1896 The Sun New York, NY
Article from The Sun, August 11, 1896

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Article Text

NOTIFIERS COME TO TOWN. Popoerat National Committee Meets at Noon To-day. The Popocratic National Committee will meet in Parlor D R of the Fifth Avenue Hotel at noon to-day. Senator James K. Jones, Chairman of the committee. arrived late last night from Washington. and went to the Fifth Avenue. He was accompanied by Senator C.J. Faulkner of West Virginia and Lawrence Gardner, member of the committee for the District of Columbia. Senator Arthur P. Gorman of Maryland preceded Chairman Jones by two hours, and had a consultation with him on his arrival. Senator Gorman, it is said, will have a great deal to do with the management of the Bryan campaign. He is an old and experienced campaigner. and Senator Jones, who is practically without experience in national campaign work. it is said, will rely much on his advice. The members of the National Committee and men who hold proxies from members began to arrive early yesterday morning. and by last night there was a goodly sprinkling of them about the hotel corridors. Members of the Notification Committee were also much in evidence. Several of these gentlemen called on CandidateSewall to pay their respects,and others posted off to Cooper Union to hear Mrs. Mary Elizabeth Lease. Very few of them went near the so-called headquarters at the Hotel Bartholdi, where Ollie Teall and Treasurer St. John are running the New York end of the Bryan campaign. Among the National Committeemen in town last night were W. C. Tomiinson. proxy for H. D. Clayton of Alabama: T. J. O'Donnell, proxy for Adair Wilson of Colorado (Mr. O'Donnell is Secretary of the Notification Committee): Franklin Salisbury of Delaware, John G. Shanlin of Indiana, Charles A. Walsh of Iowa, Secretary of the committee. True L. Norris, proxy for A. W. Sulloway of New Hampshire, Bradley B. Smalley of Vermont, P. J. Otay of Virginia, Clark Howell of Georgia, Carlos French of Connecticut, and ex-Gov. Peck of Wisconsin, proxy for E. C. Wall. Secretary Wall said that he expected a very full meeting from the nature of the replies to notices he has received. There will be one member of the committee. however. who will not be present. He is William F. Sheehan of this State. Mr. Sheehan left the city yesterday and will not be back for several days. In consequence of his absence he will be deprived of the pleasure of hearing the Boy Orator speak his piece. The principal work of the committee will be to select a place for national headquarters. Most of the Western men present at the Fifth Avenue Hotel last night were in favor of Chicago. The Eastern men are for New York. It was said to be probable that two headquarters will be chosen-one in Washington, where the Senators who are expected to raise the money for the campaign reside, and from where they can frank their free-silver speeches as campaign literature. Theother headquarters, it is said. will probably be in New York. Whether those which Treasurer St. John has already established will be adopted is not determined on. The members of the committee are not specially pleased with the way Mr. Oliver Summer Teall has usurped the functions of the National Committee and is giving out campaign news. They think his political judgment might be better. If headquarters are established here. 1t. is said that Senators Jones and Gorman will see to it that men of discretion are in charge, and that only such information as is considered likely to help the cause of their candidates is given out. Chairman Jones expects to announce his selection of an Executive Committee to-day. It is believed that either Senator Gorman or Senator Faulkner will be its Chairman. At any rate. both are expected to be on it. New Orleans Banks to Stand By Each Other. NEW ORLEANS, Aug. 10. The associated banks of New Orleans decided to-day to support each other in case there was any run on any bank growing out of the existing financial uncertainty. This policy was decided on in consΓ©quence of the failure of the American National Bank last week, and a mild run on one of the banks to-day. which, however, soon subsided. using en

3. August 11, 1896 The Sun New York, NY
Article from The Sun, August 11, 1896

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Article Text

New Orleans Banks to Stand By Each Other. NEW ORLEANS, Aug. 10. - The associated banks of New Orleans decided to-day to support each other in case there was any run on any bank growing out of the existing financial uncertainty. This policy was decided on in consΓ©quence of the failure of the American National Bank last week, and a mild run on one of the banks to-day. which, however, soon subsided. The clearing house meeting guaranteed to each local bank in the association assistance in any financial squeeze that may occur, and also agi ees to en " the smaller banks not members of the association any help they may need.

4. August 13, 1896 The Free Press Poplarville, MS
Article from The Free Press, August 13, 1896

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Article Text

The American National Bank of New Orleans has suspended.

5. August 13, 1896 The Corvallis Gazette Corvallis, OR
Article from The Corvallis Gazette, August 13, 1896

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Article Text

A New Orleans Bank Suspends. New Orleans, Aug. 10.-The American National bank failed to open today. The directors have decided to go into liquidation.

6. August 13, 1896 The Morning News Savannah, GA
Article from The Morning News, August 13, 1896

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Article Text

New Orleans, Aug. 12.-The well known firm of M. Schwartz & Co., dealers in machinery, etc., have asked for a respite. The assets of the firm are said to be ample, but inability to raise money and embarrassment caused by business connection with the recently suspended American National Bank has compelled the firm to ask the indulgence of their creditors.

7. August 13, 1896 Lincoln County Leader Toledo, OR
Article from Lincoln County Leader, August 13, 1896

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Article Text

A New Orleans Bank Suspends. New Orleans, Aug. 10.-The American National bank failed to open today. The airectors have decided to go into liquidation.

8. August 15, 1896 St. Tammany Farmer Covington, LA
Article from St. Tammany Farmer, August 15, 1896

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Article Text

The American National Bank, of New Orleans, suspended last Friday week.

9. August 15, 1896 The Weekly Messenger Saint Martinville, Breaux Bridge, Parks, LA
Article from The Weekly Messenger, August 15, 1896

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Article Text

The American National Bank of New Orleans, has suspended. The failure of this bank has caused no trouble in the financial circle of the city; and depositors will be poid in full.

10. August 23, 1896 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, August 23, 1896

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Article Text

Broken New Orleans Bank. WASHINGTON August 22.-A preliminary report has been received from Bank-Examiner Burgwyn, in charge of the recently-failed American National Bank, of New Orleans. Acting-Comptroller Coffin states that 80 far no efforts have been made to reopen the bank, and from the Examiner's report it looks as If the bank would have to be placed in the hands of a receiver.

11. August 23, 1896 The Houston Daily Post Houston, TX
Article from The Houston Daily Post, August 23, 1896

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Article Text

A RECEIVER NECESSARY. Washington, August 22.-A preliminary report received by Deputy Comptroller Coffin indicates that the American National bank of New Orleans, which recently suspended, will not be able to resume and that the comptroller will probably be obliged to appoint a receiver.

12. August 25, 1896 The Times Richmond, VA
Article from The Times, August 25, 1896

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May Need a Receiver. WASHINGTON, Aug. 22.-A preliminary report has been received from Bank Examiner Burgwyn, in charge of the recently-failed American National Bank, of New Orleans, La, Acting Comptroller Coffin states that so far no efforts have been made to reopen the bank, and from the examiner's report it looked as if the bank would have to be placed in the hands of a receiver.

13. September 3, 1896 Hutchinson Gazette Hutchinson, KS
Article from Hutchinson Gazette, September 3, 1896

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LATE NEWS NOTES. Bill Doolin's remains were interred in a cemetery at Guthrie, Ok. Two Texans fought a duel with knives near Dallas and carved one another in a frightful manner. The West German M. E. conference found Rev. August Lemkan of Topeka guilty of imprudent conduct. The president and vice president of the American National bank of New Orleans have been arrested. Of the $300,000 needed for the Omaha exposition, $250,000 has been raised. The Salvation army bicycle brigade has made its appearance in New York. Vice Consul Piatt at Dublin says that American bicycles are having a big run in Ireland. Mrs. J. Cagles and son, Charles, of Perry, Okla., have been arrested for killing a man several years ago for his money. A new national organization of wholesale liquor dealers is to be organized to protect dealers against unfavorable legislation. At Lake Chautauqua. N. Y., 10,000 people crowded into hall that would A hold only 8,000 to hear Bryan. panic was narrowly averted by Mr. Bryan refusing to speak until some of the people left the building. Congressman Sibley addressed those who went outside. After thirty-five minutes Mr. Bryan was enabled to begin his speech. The amount of gold coming to this country is estimated at $10,000,000. The ex-Confederate Home at Higginsville, Mo., is to be controlled by a stock company. Miss Laura Ray of Terre Haute sustained injuries by a fall from a bicycle from which she died. At Palestine, Tex., Zach Day, ex sheriff, and T. M. Butler had a diffi culty and Butler was shot through the heart. The presidential campaign is having a depressing effect on the glass dustry. All the glass factories will be late in starting this fall. The production of refined lead in this country during the first six months of 1896 was 130,696 net tons against 105,970 for the first half of last year. Of this amount 109,592 tons was desilverized lead and 21,108 tons soft lead. The apparent home consumption for the first half of this year was 106,932 against 241,892 for the year 1895. The big strike of Australian coal miners was lost by the men. The cruiser Brooklyn averaged 21.92 knots an hour on her trial trip and earned a bonus of $350,000 for her builders, the contract requirement being 20 knots. The tin plate trust has collapsed. C. M. Sharlee and J. T. George have resigned as receivers of the Conkling Bros.' banks at Nevada Sheldon, Richards and Bronaugh. It is said that if the court appoints more satisfactory receivers litigation will be stopped and affairs adjusted. Tin plate strike at Elwood, Ind., has been settled by the company signing the scale. The "Saxton Place" near St. Joseph, the residence of J. O. Brady, which cost $55,000 when erected a few years ago, was totally destroyed by fire. W. H. and J. B. Moore of Chicago, who attempted to run a corner on Diamond Match stock recently; are unable to settle as they are possessed of no assets. At the meeting of the Cundiff camp of the Daughters of the Confederacy at St. Joseph, the proposition to turn the home at Higginsville, Mo., over to the state was unanimously rejected. Alfred George Whitehead, the IrishAmerican political prisoner recently released from the Portland prison, visited his mother, became deranged, disappeared and has not been seen since. The executive committee of the Irish National alliance has issued an appeal to the Irish people in America to contribute funds for, the relief of the Irish prisoners released and to be released from English prisons. At Danville, Tenn., Ab. Hinson, a well known farmer, was fataliy shot from ambush. A son of Hinson, supposing the crime to have been committed by the Wiggins brothers, shot and killed one of the latter and cut his heart out. General Gomez asserts that he is sure to wrest Cuba from Spain. A Cedar Rapids girl was fastened with a log chain for wanting to ride a bicycle. Miss Margaret Ingels, of Paris, Ky., will take the stump for Bryan and freesilver. James G. Blaine's old home and birthplace in Pennsylvania has been torn down. In 9 wreck of a fast mail train near Pittsburg eight persons were seriously and fifteen slightly hurt. President Cleveland commuted the death sentence of Robert E. Boutwell of Paris, Texas, to life imprisonment. Prof. Andree has arrived at Tromsoe, Norway, having given up his balloon trip to the North Pole. Texas fever has been discovered among cattle herds in Australia. W. H. McDole of Indianapolis has been appointed receiver for the Louisville, New Albany and Chicago railroad. Railroad rates on cattle from Northern and Western Texas to Kansas City, St. Louis and Chicago have been reduced to meet the cut made by the Indian Territory lines. Four bandits held up a stage full of passengers in Day county, Okla. and secured $800 in money and valuables. Mrs. Ray Reems of Philadelphia refused so hand out and shot dead

14. September 3, 1896 The Globe-Republican Dodge City, KS
Article from The Globe-Republican, September 3, 1896

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LATE NEWS NOTES. Bill Doolin's remains were interred in a cemetery at Gathrie, Ok. Two Texas fought & duel with knives near Dallas and carved one another in a frightful manner. The West German M. E. conference found Rev. August Lemkan of Topeka guilty of imprudent conduct. The president and vice president of the American National bank of New Orleans have been arrested. Of the $300,000 needed for the Omaha exposition, $250,000 has been raised. The Salvation army bicycle brigade has made its appearance in New York. Vice Consul Piatt at Dublin says that American bicycles are having a big run in Ireland. Mrs. J. Cagles and son, Charles, of Perry, Okla., have been arrested for killing a man several years ago for his money. A new national organization of wholesale liquor dealers is to be organized to protect dealers against unfavorable legislation. At Lake Chautauqua. N. Y., 10,000 people crowded into a hall that would hold only 8,000 to hear Bryan. A panic was narrowly averted by Mr. Bryan refusing to speak until some of the people left the building. Congressman Sibley addressed those who went outside. After thirty-five minutes Mr. Bryan was enabled to begin his speech. The amount of gold coming to this country is estimated at $10,000,000. The ex-Confederate Home at Higginsville, Mo., is to be controlled by a stock company. Miss Laura Ray of Terre Haute sustained injuries by a fall from a bicycle from which she died. At Palestine, Tex., Zach Day, ex sheriff, and T. M. Butler had a diffi culty and Butler was shot through the heart. The presidential campaign is having a depressing effect on the glass dustry. All the glass factories will be late in starting this fall. The production of refined lead in this country during the first six months of 1896 was 130,696 net tons against 105,970 for the first half of last year. Of this amount 109,592 tons was desilverized lead and 21,108 tons soft lead. The apparent home consumption for the first half of this year was 106,932 against 241,892 for the year 1895. The big strike of Australian coal miners was lost by the men. The cruiser Brooklyn averaged 21.92 knots an hour on her trial trip and earned a bonus of $350,000 for her builders, the contract requirement being 20 knots. The tin plate trust has collapsed. C. M. Sharlee and J. T. George have resigned as receivers of the Conkling Bros.' banks at Nevada Sheldon, Richards and Bronaugh. It is said that if the court appoints more satisfactory receivers litigation will be stopped and affairs adjusted. Tin plate strike at Elwood, Ind., has been settled by the company signing the scale. The "Saxton Place" near St. Joseph, the residence of J. O. Brady, which cost $55,000 when erected a few years ago, was totally destroyed by fire. W. H. and J. B. Moore of Chicago, who attempted to run a corner on Diamond Match stock recently; are unable to settle as they are possessed of no assets. At the meeting of the Cundiff camp of the Daughters of the Confederacy at St. Joseph, the proposition to turn the home at Higginsville. Mo., over to the state was unanimously rejected. Alfred George Whitehead, the IrishAmerican political prisoner recently released from the Portland prison, visited his mother, then became deranged, disappeared and has not been seen since. The executive committee of the Irish National alliance has issued an appeal to the Irish people in America to contribute funds for the relief of the Irish prisoners released and to be released from English prisons. At Denville, Tenn., Ab. Hinsoa, a well known farmer. was fataliy shot from ambush. A son of Hinson, supposing the crime to have been committed by the Wiggins brothers. shot and killed one of the latter and cut his heart out. General Gomez asserts that he is sure to wrest. Cuba from Spain. A Cedar Rapids girl was fastened with a log chain for wanting to ride a bicycle. Miss Margaret Ingels, of Paris, Ky., will take the stump for Bryan and freesilver. James G. Blaine's old home and birthplace in Pennsylvania has been torn down. In a wreck of a fast mail train near Pittsburg eight persons were seriously and fifteen slightly hurt. President Cleveland commuted the death sentence of Robert E. Boutwell of Paris, Texas, to life imprisonment. Prof. Andree has arrived at Tromsoe, Norway, having given up his balioon trip to the North Pole. Texas fever has been discovered among cattle herds in Australia. W. H. McDole of Indianapolis has been appointed receiver for the Louisville New Albany and Chicago rail-

15. September 10, 1896 The Evening Times Washington, DC
Article from The Evening Times, September 10, 1896

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OTHER FAILURES MAY FOLLOW. Collapse of Unton National Bank Depresses Business in New Orleans. New Orleans, La., Sept. 10.-The Union National Bank, which closed yesterday, was founded in 1839, and is one of the oldest banks in they city. It had always been a prosperous and paying institution until some time ago it became known in business circles that it was not thoroughly sound. This shakiness dates back to the huge failure of V. and N. Meyer, cotton factors and general merchants. The bank was badly crippled by their failure, and has never recovered. Its depositors were principally cotton men, insurance and other corporations. It was almost strictly a commercial paper handler, and made demand loans on ordinary unsecured paper to the last. This money generally went to the country to buy cotton. Since the failure of the American National the distrust caused by that event has accentuated matters for the Union and the associated banks of the clearing house decided to lend its assistance, and especially because of the excitement and flurry that then existed. This got out and gave the depositors generally a chance to protect themselves. A quiet run has been made by drawing checks through other banks and these went through the clearing house. The suspension was inevitable and was forescen by the other banks ten days ago. The report telegraphed from Washington about a defalcation in connection with the failure cannot be. substantiated. A representative of the United Associated Presses sent a note to President Chaleron informing him of the report and asking that it be atfirmed or denied. The note was turned over to Bank Examiner Johnson and that gentleman informed the reporter that he had nothing to say as he was only temporarily in charge of the bank. "Is that the only answer you can give?' he was asked. "That's all I can say," said Mr. Johnson. From a gentleman who is close to the affairs of the bank it is learned that while the individual deposit book on the bank showed that there was SO much money in hand, the general ledger shows that there was eight times as much. The vice president of the clearing-house association, Mr. E. Toby. of the Canal bank, says he has heard nothing of the reported defalcation. The effect of the failure on general business is rather depressing andother failuresmay follow shortly.

16. September 11, 1896 The Times Richmond, VA
Article from The Times, September 11, 1896

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Bank Receiver Appointed WASHINGTON Sept. 10.-Comptroller Eckels has appointed J. i. Richardsen, receiver of the American National Bank of New Orleans, which falled several weeks age.

17. September 11, 1896 Birmingham State Herald Birmingham, AL
Article from Birmingham State Herald, September 11, 1896

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BUY CORONA COAL. John K. Warren, Manager Telephone 1020. 6-5-tf National Bank Receiver Appointed. Washington, Sept. 10.-Comptroller Eckels has appointed J. L. Richardson receiver of the American National bank, New Orleans, which failed several weeks ago.

18. September 11, 1896 The Morning Times Washington, DC
Article from The Morning Times, September 11, 1896

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Receiver for New Orleans Bank. Comptroller Eckels has appointed F. L. Richardson receiver of the American National Bank at New Orleans, which failed several weeks ago,

19. September 18, 1896 Vermont PhΕ“nix Brattleboro, Bellows Falls, Ludlow, VT
Article from Vermont PhΕ“nix, September 18, 1896

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THE NEWS IN BRIEF. A Bank Panic. Four Institutions Close Their Doors--a Defalcation of $600,000. The banking houses of New Orleans, La., have suffered a disastrous run within the last ten days as a result of which the American, Union and Mutual, all national banks, and the Bank of Commerce, a state bank, have succumbed. The failure of the first two revealed strong evidence of crookedness in their management and a panic would have resulted had it not been for the prompt action of the associated banks in adopting the rule of paying not more than $100 a day to any single depositor, and of the savings banks in adopting the 60-day clause, requiring a notification before payment of deposits. There was no hope for the Mutual, however, as it was already on the down grade.' The run on the banks began originally in the disposition to hoard money in consequence of the political situation. When the American National failed and revealed a corrupt condition of affairs it created a lack of confidence. This was intensified by the failure of the Union National which was due partly to a defalcation of about $600,000, although the fact of the defalcation was not discovered until after the failure. The adoption of the $100 a day rule had a tendency to restore confidence, as it was thought that, with assistance from other banks, the Bank of Commerce, which was in a solvent condition, would be able to pull through, but when it was found that its securities, consisting mainly of real estate mortgages, could not be realized on, the other banks refused to advance cash, and the bank was advised to close to better protect its depositors, as it would be obliged to close its doors eventually. Returning confidence was at once checked and the run on the smaller banks continued for several days. The mystery of the Union national was cleared up by Bank Examiner Escott, who made careful examination of the books and showed that the bank has been robbed of $592,000 by its individual bookkeepers, Frank Leefe and Louis Colomb, Leefe getting $185,000 and Colomb $407,000. The trick was worked by means of dummy depositors who were credited by the two bookkeepers with depositing large sums of money. Both Leefe and Colomb are men of excellent family and of the best personal reputation. They were placed under arrest. Colomb took poison soon after being arrested and has since died.

20. September 19, 1896 The Opelousas Courier Opelousas, LA
Article from The Opelousas Courier, September 19, 1896

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Henry Gardes, president of the American National Bank, of New Orleans, which was forced to suspend, Walter W. Girault, cashier. and T. H. Underwood, stockholders. have been arrested by United States officials on charge of embezzlement, The former are charged with embezzling $80,000 of the funds of the bank, and Underwood with aiding and abetting the others.

21. September 19, 1896 The Weekly Messenger Saint Martinville, Breaux Bridge, Parks, LA
Article from The Weekly Messenger, September 19, 1896

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Four banks have suspended in New Orleans in the last few weeks, the American, the Union, the Mutual and the Commerce. The two first mentioned banks were defrauded by their officers to very large amounts; the two latter were closed to protect the interests of dipositors and stock holders. No crookedness is attributed their failures.

22. December 2, 1897 The Morning News Savannah, GA
Article from The Morning News, December 2, 1897

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BANK PRESIDENT SUED. Receiver Accuses Him of Putting in Worthless Notes. New Orleans, Dec. 1.-F. L. Richards, receiver of the American National Bank, to-day filed suit in the United States court against Henry Gardes, former president of the bank, for $140,000, which the receiver alleges in his petition was drawn from the bank by said Gardes on demand notes for sums ranging from $5,000 to $20,000, signed by bankrupt and irresponsible persons.

23. December 9, 1897 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, December 9, 1897

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BANK PRESIDENT SUED For the Sum of $104,000-Henry Gardes of New Orleans Is the Man. New Orleans, Dec. 1.-F. L. Richards. receiver for the American National bank, today filed suit in the United States court against Henry Gardes, formerly president of the bank, for $104,000, which the receiver alleges in his petition was drawn from the bank by said Gardes on demand notes, for sums ranging from $5000 to $20,000 signed by bankrupt and irresponsible parties.