New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1856-08-22
NAM BASIsaNes sYsElaar Of LOUISIANA a a
The Lorliaiana stste Bank,

"a f5gE "a ~
parhas,s tfaye Is hist II better devised system 81
,snkin 4 ns tIle World fhan Son sbe
etasatss oF fssaisiafa wen defined, 50 wen cons
costedin So many checks, e,
rna1y rests ats ia many cnrhs, on derfte aEa
{ avtT.b Igers never embraced IN any banning
Hin within otlr recollection No dd more
the banking laW 81 lsaaS thah
he ,ate Albert Hoa Teprss ting the parish n s't
isaas Hi tthe legislature Bof Ton
When tie act eriving tile charter q We BANKS
81 Hill State was under debate before the
many Of Oldest banker faiaeIefs
treat doubts thati would be- Of any utility Or that
any i'll oar city eosd ref Of bank
5tt Ii,ei III and experience has
5royeds WHAT tlien was deemed theoretical
aili illsye, IL lie one Of The NEST admirable and
beneficial statute was ever enacted by any as
salnby for commercial financial or social purposes
The most happy results have followed the move
nlehts of the Banks working under this law The
most prominent features Of are that
eysi bank must keep On hand at specie
lone ALI eutlal 10 its
depostes and ether cash liabilities; the other sWo
thirds to be represented in or es
change, payable in full within ninety A board
Of currency consist of persons was atso Or
ganized Nv tie STATUTE, which force though
a
greatly modified tsSS I'll.
Under lie provisions ef ttllleact only out
of sixteen then trying to business in our
could comply and carry On business and otherwise
aid in conducting the financial operations Of this
great emporium These four banks were the louisiana
State Bank the Bank Of New Orleans
Canal and Banking Company (or rather the Canal
i Bank, and the City BanE.
We propose giving h short sketch Of the Louisiana
State Oldest in this State and we
belieye il the United States excepting one or two IN
Il situations in Philadelphia, and two Or three in
i York, The charters Of those in New York have,
however oil expired and been formed Oh re-incor
porated under the general banking laws Of that
State. @8s f MI a s{
III Louisiana State Bank of N w Orleans was n-
cor'orate6 By an act Of the legislature in March,
1878 over thirty years ago. to endure till the
year 1870, with capital of two millions of dollars
Books of subscription were opened on the 18th OF
May ls--the terms Of subserip being oneffth
III cash or in notes. to the Directors at such
time as they require ifths I'LL one year after
the bank commenced business the other two+ftths
at such time is directed by the Board Of Managers
This would be- consider a very easy mode Of or
ganiaing bank in these times. At the time alluded
to, however, banking and stock had not be-
come science #s IN 3s4
| The terms Of The charter required that the bank
should establish specially i've branehes ~ different
sections Of the country and also authorized IT 70
Increase the number Of branches This clause in the
charter grants and susains the branch now on Camp
street, and, moreover the bank has right to estab-
dsh another branch in the Third District the Fourth
District, OF any where the Directors think proper
However, there II no probability the priv leges
granted will be used, particularly country branches
of all our banks have proved incubus Subsequent
the Legislature authorized the bank to close the
i branches required III the original charter.
4 The Louisiana State Bank then commenced bust
ness III the fall Of the year 1918, in the two-story
building known as Cont street, between Char
VI tres and LeVee streets, under the Presidency OF
Dusuan De Ia Croix and the cashiership Of Mr.. Rich
ard Relf the present incumbent Of the Office, who
has faithfully and honorable the duties up to
this time, say nearly thirty eight years There are
butfeW instances Of such unremittng devotion to the
interests and welfare of institution 50 dtly and
successfully satisfactory and ably con
Quoted the puhlie solong aperiod Of time
SO much fidelity and fathfunegs to stockholders and
4 the general interest of public institution evnced
in the present instance by Mr. Relf During the long
period Of years, we believe he has been alb
sent only one summer and for -four years he has
Il been permanent resident Of city and although
Ee now presume him to be about four score years y
III are lie every week makes out with his own hands the
statement Of the bank for the Board Of Currency, re
qired by the law fegiying the charters of the banks
4 Of the State.
II Ater the retirement of the first President Mr. De
H which was Bubseque the year 1925, The
Iii presidency of tile bank was filed BY MI. Bernard
Il DuchaInp, (of the house of Duchamp y Kennedy
j who continued Till the fall Of 1892 when he fell
victim to the cholera on its first appearance in this
dissection He Was succeeded by Mr.. N. s. Cneullu
who held the office till 1s44 when The was succeed
ed by Mr.. j. B. Yignie, who retained the Office til
entire chgewas made in the direction the bank
u which resulted in placing tile late Samuel ]. Peter
II lsat Its head. At this time, say seven years ago
7 Its capital was deficit $22l 900. 33g
Il The energy, zeal, talents and skill Of Mr.. Peter
instilled into new lfe extending its operations
encouraging the timid Of its friends and well wsers
adding to its credit, enafgrg its sphere Of oper9
tons, and soon the community and the stockholdel
had the pleasure Of witnessing it take o stan
q among the sonndest, most reliable institutions
= the country VI
u During tlsast seven years it has made its capit
81 good paid eleven dividends of five per cent eac
and one Of four per cent and has now to the cred
n Of profit and loss account 1861 900. IN
Since its organization III ls1 il has paid the stoc
holders dividends mounting in all to fo
u millions three hundred and three thousan
e eight hundred and sixteen dollars. Itmust, howeye
be taken into consideration that the full amount ofcaI
not paid up for three foul years after goil
7, into active operation. 4 s.7a
2 Of the original branches in the State, which we
8 five, viz one at ST. Francisyille one at ST. Martir
q yllc, one 1T Donalsonville at Alexandria a.
one 1t Baton Rouge, all have been closed eXceptil
:. the one at Baton Rouge. This branch has been
tanned as much for the benefit and convenience of
State as for any other purpose, it being the depo
tory and custodian Of tile States money; and it b
al times been Of very great advantage 70 the Sta
treasury and the financial interests Of tile public.
~ At various periods there have been many repo
i. from the Legislature regarding the branch of /
II. bank in this city As there is nota shadow of dor
ID regarding It's legality tits presumed it can go
II its usefulness to the commercial community withc
se any attempted interference from the action of
u Legislature. person conversnt with thesintre
all ing trade of our city will deny its great utility
the great ability in which it is conducted for the g
eral prosperity of ours city sa5 7ts5-.
~ Blythe terms of the charter the bank is author