The New Orleans Democrat. (New Orleans, La.) 1875-1876, 1876-03-23

Kelipsg Appoints Ono Set NJ Directors,
i assa ishtH dkAAssns sis Mind y
"a ..,fs ~ Appstssts Assthev.
A few days ago the city papers pub
| liahed, htAonk TIN AttposutmAnts by the
Governor, the nance, of Mesars, CAL
houn. Flanders and burke ~ directors
for ths STATE in the Planters Console
dated Bank, Vice MtsHrs. Pilsbury. Hahn
and bloomfield. Tho comments there
upon were 40 wordst ~ to lead pt,e to
believe that the last named gentlemen,
having served their term Of Office, we're
fteihg replaced BY the new appoihtees.
Ss.s t NJ ~ ssss ssss'v sso 10.
ssss ssRs g ,s$s aaas'Ys sx IN ss.
and They haa bsa bat ONO meeting when
Mr., Kellogg, changing his mind. for
reasons best known to himself. appoint-
"a s Sa hss s As' ssa ..sse '.sss o"
believe, that tho. first appointments
having baoh made whilst the Henatd
was in session. and that body tIaving
failsd " aet upon thrtn, kellogg fsit II
to lyai hisl duty TO make now appoint.
laents, The directory OF the, bank com
Driaes ,sjxus directors. three being
elected by the stockholders aud
three appointed by. the q, State.
The six directors. Including tho now
appaintees. met Yesterday ~ the old
Hank building. on Toulouse street. be
tween Royal aud Bourton. and hel,l mn
Informal meeting.. The .statis Of the
double SGT Ok new difeototst was not dis
gissed, but we understand, from most
feltal,le authority, thotAs MesstH. 1'lls-
biiry. Hnhn and illobmfleid aid not 10
ltcif the appointment. theys will make
no opposition to the installation of their
suoceasors. Az rualors 10 the contrary.
"y Az ths thiStss4#lo6 ssehia to prevail
that the liquidation OF this bank haH
been nislpal,aged, We Think H. but just
to publish Il few facts. placing matters
In their proper iignt.H "tn # s'"fti"d"
The Planters Consolidated Bank WINS
IN 1877 and its capital raised
tmostlv in Europel upon mortgages fur
nisbed by the stockholders on their
plnhtatioiia.H The capital so procured
was loaned alsa 'upsd isnottghseito the
pl"a,s,Es " tbs state Eserything wen,
w 4 wsS s1S s sts G ""ts
Wsnt down and hss 'boen fia"t iatiog
eyer eioge.. Many 81 the stpekAolters.
who had .MorLgpgol their prpperiy for
tho bgDcr 1T tho bank, aud had rc-
SslSsd 1 4" Sa s FL s'' is ss."s
the impossiblity Of u forced liquidation
ttky 9rftlitors oh tlle hank grag tsl tisue,
Tn e6tlstdtishca III tho destruction of
property resulting from tho war. when
the obligations inatured some ton years
ago. the bank, being unable to pay, |
asked for n further extension to June,
1916. which was granted. During this last
decade thn dsljt shan tuAanaH ut n stand
still. aggregnting 5000. 1850, The profit. |
gncy OF tho reconstructed government, !
fastened upon the State by Federal
eayonets, s q s,, n12ReIty r. depreelste
thattkNsav,lpy eqss OF the bank found
u hard work to hold the banks own
frtth enc hands OF the aherifrs and tax
3sxyss, asa sss s a. saf p, "es k"s
upon which II hold mortgages were 80
emb4ry~ssd tbpt xhescysrWhtsrss en-
tered TO force payment Of mortgage
bonds. the bank was forced to buy In |
tho property seized and thus increase itg
londi0f shoA Aprdaldhtivo' Bat yetttaxcd
property. In the last decade the prop
erty thus purchased figures for sum of
si at 90 ,h Si"s'Es M d Raas iihG "a
beitSr timesa', f ti,ns ' saving "a tasss and
court fees. The annual expenses Of tho
liquidation falls short Of $4,000 per on
nun. and II carried on byla 'caebier, hts
'nssAtNht md, IN Attorney meet
tAasS exIsilees the Company has TO rely
upon the crops Of two sugar plantations
Situated In ,ths parish, of ST. iCbarlpy
The assets Of the bank nre .nominaily
equal to it's ifliabilities,.i hut should u
liauietntiun be forced. yhArdlylAi third bf |
tho amount dse could be fxaftzt,d p
The State, betnR tntiot~es Tor tho hank
becomes responsible upon non payment
Ut ylItttrity Tor Whatsoever hnhlnce WY
tDnlAtn unpaid, and, aA we' kHsee prh-
viotsi ~ sti.sed tiiAs fair tstintAHe i,la1,
t Z ainp nhfS thAt cap ~ f 4 a q
State has chs prospect of bcing soon
aatidied With an additional debt OF
$4,000 .w fr