New Orleans: 1838.
Rare autograph document signed: The Citizens Bank of Louisiana trades shares in the capitol stock of the bank for parcels of land and slaves. Folio, 4 pages, City and Parish of New Orleans, Louisiana, September 8th 1838, whereby Demey Kemp and wife, who are wealthy land owners with many slaves, enters into a contract with Victorin Patin, President of the Citizens Bank of Louisiana, to secure the sum of fifteen-hundred dollars, the amount equal to fifteen shares in the Capital Stock of said bank, with fifteen shares in an additional allowance of stock, for the following described property, to wit, as adjudicated by Judge Samuel Leonard and certified by Theodore Seghers, notary public, in small part: "...that including four tracts or parcels of land in the Parish of St. Helena, containing two-thousand and forty acres; a tract of land situated on the River Licksaw, containing six-hundred acres. Likewise further: Demey Kemp declares that one of the Slaves, therein mentioned and named Adelin, aged nine years, has died since appraisement; and he referred to the title papers in the possession of the said Bank to show from when the appraised property is derived; with the exception of twenty-eight slaves who were born on the property. A mortgage is granted by the said Demey Kemp ... to secure fifteen additional shares allowerd, on his subscription in the Capital Stock of the Citizens Bank of Louisiana. According to the Judge's certificate, there is no mortgage in this office on the different described properties except the mortgage granted in the sum of two-hundred schares in the Capital Stock of said Bank ... then this said ... Demey Kemp will be recognized as a stockholder of the Citizens Bank of Louisiana for fifteen additional shares." This document has been certified by Justice Samuel Leonard on verso with his signature and embossed seal, October 6th 1938. Condition: usual folds with light soiling and minor toning on the Court Filing page: Very good.
Between 1831 and 1866, Citizens Bank of Louisiana, currently owned by J.P. Morgan Chase *& Co., accepted 13,000 slaves as collateral on loans and repossessed 1,250 enslaved individuals on loans that plantation owners defaulted on. Though this information is readily available through extensive historical research, much of it financed by J.P. Morgan Chase and personally authorized by Jamie Dimon (2003-2005), this is the first document we have ever encountered whereby Citizens Bank of Louisiana is knowingly trading stock in their bank for slaves to shareholders.
Condition: Very Good