The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-09-11
THAT $500. 900 SUIT.

The following communication from Mr.. Layton
refers to the suit filed Saturday last by the city
zysnst the Southern Bank ct ais
M,-. Editor-The New Orleans public was no
aoubt struck with some astonishmcnt on reading
IN all the papers the petition filed the day prev
Gus by the city, in the Fifth District Court,
AGAINST the Southern Bank, to claim from that in
atitution, first sum of $685. 900, and next inter-
est swelling it TO nearly million and a half
For such establishment there were good causes
TAe Southern Bank has at all times deservingly
ranked, for years and years, as high. at least in
point of responsibility, as any other similar inst-
Suton in the land, and its reputation as such has,
kom its origin, extended through both the new
and the old continents and remains unbemished
The Southern Bank, it is well here to recall. for
a is an unc0ntrovertible fact, is the only bank in
ahis city which has unhestatingly and promptly
aaken up, in gold, its ante befum circulation and
deposits, when it might we'll have done SO, legal
~, under the two regimes, either in O. 8. or U.
s. Treasury notes, which Is well known were not
aAen at par.
The Southern Bank is the only bank in this
Saty which has neither suspended payment nor
Msued certified checks ia times Of suspension to
&s depositors in lieu of money.
The Southern Bank, many years ago, volun-
aariy renowned the onerous and thankless fiscal
agency of the city Of New Orleans. Il has since
rendered satisfactorily its accounts and been fully
discharged from all and further responsibility in
shat capacity.
The bonds mentioned in the petition were
specially accounted for to the city authorities in
January, 1870, aud the statement produced was
anGualifediy accepted and attested as correct in
svery particular.
The same bonds have been eipce disposed Of,
Aeen recognized as properly parted with by the
aity, Snd matured coupons thereof have since
Been paid by the city, and the bonds themselves
Save no doubt been funded by the city, to large
sEnount, under the Premium Bond scheme.
The evil spirits which have inspired the insti-
CATION of the malicious suit in question must
have been shamefully confused in finding believ-
srs or sympathisers no where, not even a timid
% nervous woman, on a run to the bank for a re-
barn of her deposit.
None have come none will come. Should any
call, the bank will be pleased to receive them,
ready as it is, and it always was, to honor all
ne obligations and to extend, in its charity, cour-
aeses even to those wicked ones who have sought
and are still eudeavoring by wanton but puny eff
Sorts to asperse its exalted character and reflect
Gn it's undefled reputation, which both rise so
high that they stand aloof from the reach OF
ma ice and altogether above all suspicion.
The eiEy's official organ, in it's Sundays issue,
ander the head of Municipal Matters" at first
whispered that there was storm brewing at the
SSty Hall, the nature of which had not yet tran
spired, and after information announced that the
eaoud had burst, and that the storm consisted in
she big suit published elsewhere that day IN the
same paper.
1t is palpable that suit was suggested by no
Kind motive towards the bank, but rather die
aated by strong desire to the reverse, for
reasons best known to the promoters of the liti-
cation. The public would, no doubt read with
interest the resolution of the City Council au-
thorizing the bringing OF this suit, and which has
not appeared in the official published report of
Abe proceedings of that body last week. 1t is q
Allscy to suppose that suit can be brought at
sAe whin or caprice Of mayor, or of other mu-
aicipal officials where the law does not expressly
nroyide in that sense. 1t is much to be regretted
that this suit was brought without due delibera-
1oa and the way that 1t was instituted. Some al
6wance must surely be made in favor of public
eEScsrs in their honest endeavors to discharge
aheir duty. especially of municipal administra-
sors investigating complicated and important
sity affairs when they do so, animated by proper
settings; but when they become SO forgetful Of
Sheir stern obligations as to garb their wicked
designs in judicial proceedings, and screen them
selves beneath the cover Of official action, they
sxzeit all claims to such allowances.
The suit in question, if tested by the sur
rounding circumstances under which 1t was
brought, may be well denounced as conceived by
malice and brought forth in iniquity.
The work was done candestinely at the City
Han. SO much so that the reporter of the official
paper Of the city knew little or nothing OF it at
1Tst.
Tie suit was fled surreptitiously, without any