Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1841-07-27
From the vicksburg Sentinel, Fxtra,of July Il

From the NlckSUuIg Aocnliuclst Auaaoi SuAy -
THE BANK EXPLOSIONS IN NFw Or
LEANS JUST COMMENCED. 1--WE learn from
/ our New Orleans Correspondent by the
Baton Rogue, which left New Orleans on
Wednesday last, that the Bank of Orleans
as we predicted caved in the 18th inst.
By the published statement OF the con-
dillon of the banks, it appeared that this
concern had only about one dollar IN spe-
Gle for every 30 in circulation; but to break
the face of this weakness there was pub
} LEGATION made in one ofthe city papers at
$ ;erwards. stating that the cash OF the
S Orleans was enormously stated IN the
e renort and that it had 100000 instead
!. of $4,000.
1t Suspicion was Immediately aroused and
L the Bark investigating committee went to
n examine into the affair, but they were de.
4: MED access to the Banks, which alarmed
i | IIIC puUIIO, auu ttIS tISStSlNeiS - :,
u made desperate run on the Bank on the
r 18th. demanding specie or other paper tol
n the notes. 1t was not quite convenient
ii however. for the bank to make the ex
lg chance. and she closed her door IN the
ID face ofher clamorous creditors, and Sc
ed them at defiance.
rs HuIlan The cashier had previously re
"a signed and ii is now said that the lmmac
zee Mate w. l.. Hodge, the president has al
VS. seconded with large amount OF the func
ak ofthe Rank.-'Ne learn that the notes ma
cir already undergone serious dePreclatio
ow and at the present writing they are prob
am Div at SO per cent discount. ms is on
=, the beginning OF the end.
had We again warn our planters TO lo'
IN ont and not to blame US if they are
am. with worthless trash for their labor
ty- sam Peters thieving shop will go ne
then the Carrollton, Improvement I
Sc obanoe' Mechanics & Traders, and pr
ual- baby Canal and Commercial as wen
the Gas Bank. 1t is difficult to say wnen
e IN devil will leave oil.
de- Immense amounts OF this DanK PAT
hid have already been sent up the rlyer'
that Now Orleans thieves, to be exchan!
ship cor Western money or produce.
y TO warn the planters and others to De
lssLng their guard. 60,
,fthe rCerrespondence of the Sentinel
gives New ORLEANS, July IA, lo4l
laIg DrAR SlR:--The catastrophe vi
= nv, ~ YOU long since predicted has taken pr
., per. The swindling Banks of this city have
oral. gan to explode. . c..b;o, of
III ! A few days since the Casnler Oh
ltl u parL If Orleans resigned, and in the
ose 20 i;Shed statement of the situation OF
N Ihe ne,- .ho ssOrleansD showed about
els Oh dolIar in specie to ever twenty OF cir
. uoo ton; this, however, was altered Ia III
I . .ss hank statement on the following Gay
- 1ue increasing the amount Of specie IN 2
resls- Statement to 100000 in place OF 24'C
10 say Tb;s excited suspicion that all wa
~ Ior r;oht and thelbank investigating conn
SIS az, Considered il their duty TO examine
y mana The affair. They were refused acce
am the books of the bank, winch alarli,e !,
wayy nnblic and the holders ofthe notes u
oil MS run uDon the bank yesterday dem
open. s0scie or other paper for their notes
u stare The doors of the bank were close'
avs al a. the public set at Defiance &.
Ut TO De =" Rumor saws the immaculate I'M
usehoio w +. Hodge, has absconded "
ght ex. W. =. .,. n-S If lie funds Of the
.Rorities large , anaOu"' :
before OIL T 9,L, notes of this bank unierw
perhaps o.;o" ~ denreciation yesterday, and
9 peace The end of the week will donotless
a grave so ner cent discount--thls IS on
lesher il % p~ r. Of lseries of ex
sSoge. hot. ,b., will take place in the rotten {
2 as the 1na1 % haws 10 IooE out for Sam Peter
snOPs n 1.s-t Sam has gone to the
!, would Oaa pan ,b nS1 win not have the benefit
to some ;nanciering talent 70 keep them e
,s-who, A' .T'ba CssrroIIton, Improyemen
Of Prin. tics 8 Traders, viii next g
If royalty saarJ
llarIy I'M O IKE : Bank Of Orleans had We
should be .;reuIst;on.
at is one u $3.50 -. - McT,s