Commercial Bank (New Orleans, LA)

Episode Information

Episode UID
4172325090809
Episode Type
Suspension β†’ Closure
Bank Type
state
Bank ID
417232509 hash
Start Date
May 17, 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
145ec6306fe8969c

Response Measures

None

Description

Contemporary reports show suspension on 1867-05-17 and later liquidation actions (liquidators paid by city bonds) in 1868.

Events (2)

1. May 17, 1867 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended due to inability to meet liabilities; Jacob Barker pledged real estate to cover liabilities.
Newspaper Excerpt
The Commercial Bank suspended this morning. Jacob Barker pledges his real estate, with an annual rental of $15,000, to cover the liabilities of the bank.
Source
newspapers
2. December 4, 1868 Receivership
Newspaper Excerpt
Resolved... authorized to issue to the liquidators of the Commercial Bank bonds to the extent of one million five hundred thousand dollars... in settlement of the purchase of said Water-works; $1,393,000 to be paid to said liquidators, ... in settlement of the purchase of said Water-works, and the balance, $106,100, to be used ... for extension of said Water-works, subject to the approval of the Common Council before action.
Source
newspapers

Newspaper Articles (12)

Article from The Daily Gate City, May 18, 1867

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Article Text

FROM NEW ORLEANS. NEW OBLEASS. May 17. The Commercial Bank suspended this morning. Jacob Barker pledges his real estate, with an annual rental of fifteen thousand dollars, to cover the liabilities of the bank. The meeting last night was addressed by Senator Wilson, and passed off quiet and orderly, though the military were under arms, ready to quell any disturbance. The three days festival of the firemen be gins to day at the fair grounds, for the benefit of widows and orphans.


Article from New-York Tribune, May 18, 1867

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THE SOUTHERN STATES. LOUISIANA. SUSPENSION OF THE COMMERCIAL BANK-SENATOR WILSON. BY TELEGRAPH TO THE TRIBUNE NEW-ORLEANS, May 17.-The Commercial Bank suspended this morning. Jacob Barker pledges his real estate, with the annual rental, $13,000, to cover the liabilities of the bank. An order was issued this morning by Gen. Sheridan, prohibiting the carrying of fire arms by any person except those authorized. Offenders will be subject to trial and punishment by a military commission. The meeting last night addressed by Senator Wilson was quiet and orderly, though the military was under arms in readiness to quell any disturbance. Gen. Longstreet was one of the Vice-Presidents The three-days' festival of the firemen begins to-day at the fair grounds, for the benefit of widows and orphans.


Article from Evening Star, May 18, 1867

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TELEGRAMS. &c. Emerson Etheridge, the Conservative can. didate for Governor of Tennessee, spoke at Memphie, yeaterday morning. About 10,000 persons were present, including many ladies. He was very bitter against Brownlew, and was followed by General W. B. Stokes, who defended Brownlow and the Radical party with great warmth. Hesaid Grant, Sherman, Thomas, and Sheridan were Radicals, and they conducted the present reconstruction law. The South American news is important. President Lopez, of Paraguay, has accepted the mediation offered by the United States Government through its Minister, Mr. Washburn, and would immediately send an envoy 10 Wasbington. The allies, on the other hand, had not accepted the o ffer, and it was doubtful whether they would do so. There has been no further fighting bet sween the contending parties. In the State Constitutional Convention of Maryland, yesterday, the committee on declaration of rights reported a bill of rights which provides, among other things, for the admisson of negro testimony in the courts of the State. The bill was made a special order for Wednesday next. The Executive Committee of Canada closed its sittings this week for the present. The changes in the departments will in volve the removal of someseventy families from Otta wa Their places probably will be more than sup. plied by the arrival of officials from the maritime provinces. There was a split in the Republican Convention to nominate a member of Congress for the Nashville District, Tennessee. The con vention nominated John Trimble, a native Union man. The seceders nominated John Lawrence. of the Freedmen's Bureau, who subsequently declined the nomination. Eighty-flv midshipmen will be graduated at the ensuing examination of the Naval Academy. Fifty or sixty of them will be placed on the steamship Minnesota, and sent on a six months' cruise for the purpose of being instructed practically in their duties. An order was issued by General Sheridan yesterday morning prohibiting the carrying of fire-arms by any person except those authorized to do so in the discharge of their duty. Offenders will be subject to trial and punishment by a military commission. A meeting at New Orleans, Thursday Light, was addressed by Senator Wilson. Everything was quiet and orderly, though the military were under arms in readiness to quell any disturbance. A telegram from Staunton announces the election by the Episcopal Convention of the Rev. Francis M. Whittle, of Louisville, Kentucky. as assistant bishop of Virginia. The French Canadians are becoming notorious for the crime of poisoning. Another case, similar to that of Provencheur. will be tried on the 25th instant. The Commercial Bank of New Orleans has suspended. Jacob Barker pledges real estate with an annual rental of $15,000 to cover the liabilities of the bank. A dispatch from Montreal says apartments have been reserved at the St. Lawrence Hotel for Jeff. Davis and family. They are expected there to-day. The stables of Abraham Warwick, near Richmond, were burned, with thirty mules, Thursday night.


Article from The Daily Empire, May 18, 1867

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News by Telegraph and Mails. Gold closed in New York yesterday at 13736. The President was reported quite 111 last night. Three illicit distilleries were selzed in New York on Thursday. The amount of specie to be shipped today will, it is said, amount to two millions and a half of dollars. Madame Ristori made her last appearance in America last night, in New York, AS Medea. She made a brief farewell address in English. The Commercial Bank of New Orleans suspended payment yesterday. Sheridan has prohibited the carrying of fire-arms In New Orleans. Jefferson Davis and his family are domiciled at the New York Hotel, New York. He will leave for Canada to-day or on Monday. A large wild cat was captured, yesterday, in a lumber yard, in Chicago. It had probably been brought in the hold of some vessel from the lumber regions of Michigan. The United States District Court of lowa has decided adversely to the liquor sellers in that State, who claimed that because the United States Internal Revenue Law provides for liquor licenses, the State Prohibitory Liquor Law is of no effect. The subscriptions in Boston for the South amount to $47,507. s Geo. Andrews, charged with embezzling several thousand dollars belonging to the Merchants' Union Express Co., of New York, was yesterday arrested in Chicago. Mrs. Belinda Ellms, the heroine of the story of the shipbuilder of Boston and his breach of promise of marriage, has recovered $7,000 for the injury done to her affections. It appears that Payner, the "inoffensive young man" who made a murderous assault upon hiscousin. Miss Holcraft, in Philadelphia, on Thursday, had attempted to ravish her, and, irritated by her resistance, cut her throat, and then his own. His wounds are supposed to be fatal. The girl, who is only fifteen years old, is recovering. Warner, Cheever & Co., of St. Louis, yesterday received a large order for supplies from Brevet Colonel Rankin, Captain of Company C, Thirty-first Infantry, U.S. A., now located at Fort Buford, Dacotah Territory, the scene of the reported Indian massacre in January last. The letter contains 110 account of scalpings or Indian troubles. The other day a dog got into the sheepfold of General Singleton, near Quincy, Illinois, and destroyed four hundred dollars worth of his valuable South Down sheep. New York has adopted a new rule of testimony, which enables a husband and wife, or either of them, to be a witness for or against the other, or on behalf of any party, in certain cases. Two young girls belonging to Fall River, Mass., ran away with some of the circns companies that performed there on Tuesday, 30th ult. They have been tracked to Providence, but have not yet been found. A cable dispatch announces that the Emperor of Austria has issued a decree favoring the Protestant inhabitants of Hungary. The nature of the decree is not stated, but we suppose that It grants what the Hungarian Protestants have long desired-the liberty to manage their own church affairs. A sturgeon nearly 8 feet long, and weighing 306 pounds was caught at Berkley, in Taunton "Great River," Mass., last Thursday, and at Taunton on the same day, a sucker was seined which measued three feet two inches.


Article from The New York Herald, May 18, 1867

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THE PRESS DESPATCH. NEW OBLEANS, May 17, 1967. The Commercial Bank suspended this morning. Jacob Barker pledges his real estate, with the annual rental of $15,000 to cover the liabilities of the bank. An order was issued this morning by General Sheridan, prohibiting the carrying of fire-arms by any person, except those authorized. Offenders will be subject so trial and punishment by a military commission. The meeting last night addressed by Senator Wilson was quiet and orderly, though the military were under arms in readiness so quell any disturbance. The three days' festival of the firemen begine to-day as the fair ground for the benefit of widows and orphane.


Article from Daily Davenport Democrat, May 18, 1867

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LOUISIANA. New ORLEANS, May 17.-The Commer cial Bank suspended this morning Jaco Baker has pledged his real estate, with hs annual rental of $15,000, to cover the liabiities of the bank. The meeting last night addressed by Se:ator Wilson was quiet and orderly, though the military were under arms to quell an: disturbance. three days festival of the firemen be gins to day at the fair grounds, for the ben efit of the widows and orphans.


Article from Public Ledger, May 18, 1867

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FROM NEW ORLEANS. a NEW ORLEANS, May 17.-The Commercial bank suspended this morning. Jacob Barker pledges real estate, with an annual rental of $15,000, to cover the liabilities of the bank.


Article from The Daily Dispatch, May 20, 1867

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New Orleans Bank Suspension-Order of General Sheridan, etc. NEW ORLEANS, May 17.-The Commercial Bank suspended this morning. Jacob Barker pledges real estates with an annual rental of $15,000, to cover the liabilities of the bank. An order was issued by General Sheridan this morning prohibiting the carrying of fire-arms by any persons except those authorized to do SO in the discharge of duty. Offenders are subject to trial and punishment by military commission. NEW ORLEANS, May 17-Evening.-The assets of the First National Bank are being examined by the stockholders and capitalists. There is a very strong prospect of a resumption of business at an early day. The meeting of stockholders adjourned until Monday, awaiting the action of the capitalists.


Article from Delaware State Journal and Statesman, May 21, 1867

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SCRAPS BY THE WAY. 1 The proposition to build a new Presby. terian church in the western part of this city gains more in favor every day. A building capable of seating about two thousand persons would be just the thing. The United States Consul at Nassau says there 18 danger of the yellow fever being introduced into this country from the West Indies. The Broadway Bank has been swindled out of $17,500 by means of a forged check, purporting to come from the officers of the Board of Public Education. It is said that Mr. Greeley cannot get his hands washed clean since they came in contact with the blood-dyed "maulers" of Davis the traitor. General Schofield has ordered that a negro company called the "Lincoln Guards," recently organized at Richmond, shall be disbanded. A woman in Brooklyn died a few days ago because of the blunder of a druggist in has putting up a prescription wrong. He been arrested. H. F. Pickels of this city sailed for Eng. land on Saturday last. He will be absent about three months. Gen. Sickles has been breveted a Major General in the regular army for gallant services at Gettysburg. Rev. Mr. Ford, of Brooklyn, preached at the Central Church last Sunday, morning and evening. The historian, Bancroft, has been ap pointed Minister to Berlin. They are to haven new bridge over the Susquehanna, at Harrisburg. Gen. Grant was in Richmond on Satur day. Dr. Brown of this city intends shortly to locate in Petersburgh, Virginia. The Board of Health will make a tour o inspection through the Fourth Ward to-day The Commercial Bank at New Orlean has suspended payments The weather continues cool for the season


Article from Burlington Weekly Free Press, May 24, 1867

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New ORLEANS, May 17. The Commercial Bank suspended this morning. The three days festival of the firemen begins to-day at the fair grounds for the benefit of the widows and orphans. Gen. Sheridan telegraphs yesterday to Genearl Hartsuff from Galveston as follows "Let the firemen's festival go on. Hold troops in readiness to suppress riots if necessary, keeping the Custom House as the base of your operations and if necessary call on the naval commander to place his ships opposite Canal Street." The foregoing instructions are to he carried out on the supposition that trouble in the city is anticipated. Gen. Mower addressed the rioters yesterday when 200 of them passed his headquarters, on their way to the new basin, brandishing their clubs and threatening to lynch the contractors, as follows: "If you feel yourselves wronged you must apply to the proper authorities for redress and you shall have it. but if you take this thing into your own hands you may lonse what rig ats you already possess. If you go on with this rioting, by the Eternal God I will throw grape and canister into you. Now disperse and go to your houses or to your work." The mob dispersed. There was a small not to-day caused by an attempt on the part of the mob to prevent others from working. The police made severel arrests. The military were reviewed to-day and the gunboats ordered in front of the city.


Article from New Orleans Republican, December 4, 1868

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The accompanying resolution: Resolved, That the Mayor, Controller and Treasurer, and the Chairmen of the Finance Committees of the Common Council, be and they are hereby authorized to issue to the liquidators of the Commercial Bank, bonds to the extent of one million five hundred thousand dollars, bearing date 1st day of January, 1869, payable at thirty years date, with interest at five per cent per annum, $1,393.000, to be paid to said liquidators, in settlement of the purchase of said Water-works, and the balance, $106,100, to be used as may by the Commissioners be deemed necessary for the extension of said Water-works, subject to the approval of the Common Council before action. Was adopted unanimously on each reading, the rules being suspended, and ordered to be sent to the Lower Board for concurrence. Mr. Shields, the rules being suspended, offered the following resolution: Resolved. That a committee of two from each Board be appointed to provide for and supervise, in conjunction with the two Chairmen of the Finance Committees, the engraving and printing of all bonds of the city henceforth to be issued. This was, the rules being suspended, adopted unanimously on each reading, Messrs. Boguille and Poynot absent, and ordered to be sent down for concurrence. The following was received;


Article from The New Orleans Crescent, December 4, 1868

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T 01 Pelative uqof most euo $ calling 01 SUM 'seSemep Total 10] The resolution of the lower board providing for table bis payment was, on motion, called from the United sprom the ano sq pepueurs pas the uo monton no pus States call 01 100 A petition of A. W. Merriam and others, billiard saloon keepers, was referred to finance committee. One from property holders on Claiborne street, 100.00 [pue] shat uo canal . jo the 04 relative no committee the 03 referred SUM ings. The following communication was received REAL ESTATE OWNERS Build- ASSOCIATION, Merchants' and Auctioneer Exchange Stairs. dn '11 ON Rood *8981 'I Dee. 'SNVATHO NEW MON 10 ally eqs 10 jo Board the Honorbble Total P I Orleans: have the honor. by order of the Board of of Di- reso, 1881 Adoo incluse 01 this 10 pley meeting regular their 18 pessed rectors [ $ Very respectfully. SAMUEL FLOWER, Secretary. P '8981 '08 *AON ORLEANS, Man Directors JO Board the JO millines more Resolved, That in the opinion of this board, issue the 01 Countili OHO the JO ordinance million dollars ($3,000,000) in bonds, will three accomplish the objects in view. It is believed ordinatio the up pepuni eq you IIIM notes the the you em puv ordination the sq pesodord the the JO action the jo III of limit 01 105 us entited, lature, indebtedness of the city of New Orleans," passed 1855, and an act to limit and equalize munici'9981 III pessed MON JO To the up the [ed at Resolved, That the ordinance is defective in not em the JO jo land the JOJ appetally Providers sujdins em Je application the 4q enset whole 'X81 pesodord eq: sq peopord income IIIM em 88 THE Resolaced that -end eq could spuoq **** emp the 4q session at eq IIem pus product pus redord st " 'pered ordinance be rescinded, and new de 10J pus persded be 108 pies 'pepunj 0.18 setou alla pies Into 1841 em Resolaced 4q Meu ou make 01 eq councill the existing ΠΌΠΎΠΈ contracts II" cancell 01 pas which have net been strictly complied with. .Adoo one V FLORER'S SANUEL Secretary. "SNOLLATIOSE Mr. Shields offered the following: Resolved, That the mayor be and he is election hereby requested to discontinue the notice for an Junther mun ordinate puoq million three em uo action by the Common Council. rale the 'pus 18.rg uo adopted SUM This the sq receipt puoces uo sdopted 'pepuedsns being : 010A John Yeas- President Markey, and Messrs. Boguille, Brady, Kaiser, Poynot, Prados, and Shields-7. It was Nays- Mr. ordered to Pessou-1. be sent to the lower board John the Pought -N 103 Resolved, That the city surveyor be and he is -000 be 04 JO authorized Pog JO corner eye 18 Crossing Seg 8 structed bereby em JO 1800 the states Delia pus serve *091$ peesxe you seed seme pus streets uo committee em 01 referred SEM Which The following three, by Mr. Kaiser, were refer. same the 04 red Be it resolved, That the controller is hereby au exten the notice ever after ""II" 01 thorezed 8108 pus Jackson mistres equal JO surveyor. City the 10 secilistions the 04 secording streets parting Resolved, That the street commissioner be and placed, be 01 esneo 10 place, 04 instructed 48 pus Mashington JO corner the 18 hereby si 8 Thomas streets (southwest corner.) hereby s! eq pus eq MAROT em 184L Resolaed 01 notary ally the before 108 us transfer authorized the to sign contract of John Fitch, for repairing the JO streets person em -mad SB Milter 'a "I 01 District repair First III beendad 'prem pus third securities remaining the same; Provided, 108 This notal pus Printing JO 1800 pays Mille 'a Π― pies SUM Katisty ** 4q The " mained being rule equal required cash no adopted pus absent, Baing Brady Will that JOJ was ordered to be sent to the lower board Resolved, That the city surveyor be and he is the repatr 01 pus anthorized .0.ld District puoces Market Beer the hereby 10 *001$ peeoxe you seep eurss JO 1800 the papia 1001 REFORTS* The following was received FINANCE COMMITTEE ROOM, q '11"H AND 23 'ON '8981 'I *pert MeN id To the Honorable the President and Members of the Beard of Aldermen: Gentlemen- Your finance committee beg leave 1 Bauk Commercial the Jo Jollow SV report 01 08 1000ms the pred be 01 the NΒ°N "O Mater the jo Durchase the JOJ and 49 them 10 18 due committee report favorably by a the 01 spuoq jo enser the Joj Providid gour -10p pussnoqi eag millinon ene 10 3 ars, amount payable in thirty years The and total net bearing five indebted- per OA ent. of the interest city per to the annum. Commercial Bank is- being snq eq 01 spuoq eys JO resident eqs '006 399 set about $106,100, to be devoted, after JO exten the 01 **010 'spuoq JO enss! JO 0001 Bey 'pen us vater. Addns the JO increase pus SHIOM the JO not un Respectfully submitted, TH. R. BRADY, Acting Chairman Finance Committee. POTTOT 'O VICTOR PRADOS, The accompanying resolution: Resolved, That the mayor, controller and treacommittees consuy the JO chairment em pus urer. the Common Council, be and they are Com hereby f uthorized to issue to the liquidators of the eag million euo JO there the 01 spuoq Bank ercial undred thousand dollars, bearing date 1st day with of Tep '006' date. Tears thirty 18 payable *6981 BUI anuary, at five per cent. per annum, 393 the terest to said liquidators, in settlement of Joj be paid of said Water Works, and the balance, ide 01 pies eq: 4q Asm se pesn eq 01 urobase din 106,100, deemed necessary for the extensions of Comtior the JO spproval the 01 Morks, ater Council before action, pus [10 our dose no sdopted "M no Bar 01 sent . be 01 order pus 'pepuedsns being e lower board for concurrence. 18 01 Mr. Shields, the rules being suspended, offered : resolttion John e SSI Resolved, That committee of two from each supervise the pus 10J provide 01 be tion JO Jo chairment OM1 the THE pus the THIS *penser eq 01 oney the jo sprioq d paidops 'popuedens saini am 'SEM 12, This animously on each reading, Messrs. Boguille Rac ΠΈΠΌΠΎΡ€ ques eq 01 ordered pus absent Poynto P D. The following concurrence. was received d FINANCE COMMITTEE, Hut New Orleans, December 1, 1868. jo prog 20, -01 SEM woum 01 committee eq: the petition of Pierre Soule, Esq., represent Dup others -qns pus T JO befree em jo entits red em the Riven BUIARY Orders MON jo the 4S City matter a thorough investigation and after -qns the JO em ature 10 report: 01 Seq requires 10 the property in dispute fronts on Dryades d uo [ 1001 SUM 1288 JO quoij pas depth 8 sq feet 240 18q. tee