Evening star. [volume] (Washington, D.C.) 1854-1972, 1881-08-24
Death Of George v. Rigs.
THE wELL-KNoyN BANKER Expires ABou
THREE O'CLOCK THIS N0nHIuo

-. "DA@|-ANOWN bANkEh EXPIHE9 ABOUT
THREE O'CLOCK THIS MORNING
Mr.. George W. Riggs, the banker, died early
this morning at his country residence, Green
Hill, Montgomery county. Md. The melan-
| choly fact was announced to the public this
morning by Grape on the door of the banking
house at the intersection Of Pennsylvania
and New York avenues. Mr.. Riggs serious
| illness has been mentioned in The STAR from
| time to time within the last two weeks. He
| began to complain of i-health about three
months ago. Prior to that his life. which had
| nearly filled out the three score years and ten
allotted to man, had been almost entirely free
| from serious illness. During the present sum-
mer, though i'm failing health. he continued to
personally supervise his banking business
driving back and forth from Green
| Hill every day. A little over fortnight ago
| however, he was attacked with hemorrhages of
the stomach. which confined him to his bed By
| the most careful attention he recovered from the
| first attack, but was left in a state of great
physical exhaustion. Though he appeared to be
rallying and gaining strength the physicians were
apprehensive lest there should be recurrence
| of the hemorrhages, which it was felt would in
evitably prove fatal in Mr.. Riggs weakened con-
dition. The dreaded symptoms returned yester-
day Last night, however, no great alarm was
expressed concerning his condition. He ap-
peared to be getting stronger until midnight
lhen he was seized with hemOrrhage and sank
into stupOr from which he never rallied. Death
occurred about three O'Clock this morning In
formation OF his death was communicated to the
officials at the bank early this morning in a note
from Mr. Frank Riggs. who was in attendance
at his fathers deathbed Such favorable reports
had been received from the patient during sew
eral days past that the news was unexpected.
SKETCH OF HIS CAREER.
Peerless i'm the estimation of the community in
which he lived, and with a worldwide reputa-
ton for commercial and private integrity, in
gofi
Riggs. and subsequently as the head of the
house of Riggs & Co., both Of which enjoyed
the entire confidence of the business community
as far as business extended, his decease will be
severely felt and deeply mourned not only for
his absence from the business world, but for his
unostentatious charity which he quietly dis
pensed with liberal hand to the poor and
needy.
He entered on his active business life with W.
W. Corcoran, as CO1coran Riggs, in 1886 On F
street. in Washington, and they conducted a
successful business from the commencement In
1910 they enlarged their operations by purchas-
ing the property now occupied by Riggs & Co..
formerly the old bank of the United States The
firm rendered essential aid to the government
in its war with Mexico. in 1916, by taking the
entire loan of 1847, $14. GOO 600 out of which, by
the confidence thus inspired, they made large
profit, out bidding, by their usual forsigtedness
the brokers OF New York and elsewhere.
Whenthe loan of 1S4S $14 ,OOO, 600 more put
on the market, Corcoran 4 Riggs, to the sur
prise and chagrin of the New York money men,
obtained the whole, but on the LIST July of that
year the subject of this notice retired from the
firm to private life, and Mr.. CorcOran associated
with him Elisha Riggs, Mr. G. w. Riggs half
brother, himself recently deceased so the great
firm of COrcOran & Riggs continued until LIST
April, 1854, when both Mr.. COrcOran and Elisha
Riggs retired, and Mr.. Geo. w. Riggs, the SUBJ
lect OF this notice, returned to business as the
head of the present firm of Riggs & Co., that to-
day stands as high in the estimation of the bust
ness world as any house at home or abroad
Mr.. Riggs was remarkable for strength of
mlnd and fOr his power to grasp and fathOm any
subject presented to him. Mild and retiring in dis
position, vet his hand was ever open to the calls
OF worthy necessity, and in all his transactions
his Judgment was prompt, and his conclusions
Just,-the very soul of honor and of every hon
OTable impulse being quickened, strengthened
and refined by liberal education, and the en-
hghtened influences with which he was sur
rounded. He was born in Georgetown, in the
house now owned and occupied by Dr. Grafton
Tyler. July 4, 1913, and the community will
cherish his memory as of one whose faithful
ness In all the relations of life entitled him to
the affectionate consideration of those among
whom he was born and reared, and in whose
midst he passed away.
Elisha Riggs, father of Mr.. G. W. Riggs. was
born in Montgomery county, Md, and for many
years was engaged in the wholesale dry goods
W,
wards became famous as philanthropist. The
firm name was Riggs Peabody and
they occupied store corner of Wash
lngton and Bridge streets. The firm
afterwards sold out to Mr.. Darius Clagett, the
father of Mr. VIM. B. Clagett Messrs Riggs &
Peabody then went into business in Baltimore
and subsequently Mr.. Riggs went to New York
Mr. Geo. W. Riggs in early life was engaged in
mercantile business with his father, and received
a training which proved of great value to him.
hot haa r,
himself with an energy rarely equaled to his
banking business, he still took an active part in
many public movements and private business
enterprises. For many years he held seat in
the board OF aldermen OF the old corporation of
Washington. Since the abolition of the elective
franchise in the District he has been prominent
In the various movements which ultimately re-
suited in placing the District ON a good financial
IootinS with the general government. AS chair
man of the old Committee of One Hundred.
he was entitled to much of the credit of
securing the fifty per cent" contribution of the
federal government towards the expenses of the
District, and r. securing the credit of the Dis
trict by having the general government assume
the responsibility OF District bonds. He was one
OF the most active men in the Washington and
Georgetown Railroad company; was one of the
founders of the National Union Insurance COM
pany, and trustee OF the COrcOran Art Gallery.
Mr.. RIGGS ESTATE
mas been variOusly estimated. Recently it was
Der OF the banking firm told STAR reporter that
he did not believe Mr.. Riggs himself could have
told how much wealth he possessed without sit
ting down and calculating the amount. Il do
not believe he ever gave thought to it," con-
tinued the same gentleman.
HIS FAMILY
He leaves three daughters and two sons to
mourn their loss. His eldest daughter Madame
GeOffroy, died in February last All of his sur
wing children are here except Mrs. Henry
Howard, who is abroad with her husband
THE BANKING HOUSE.
The death of Mr.. Riggs will cause no inter-
ruption in the business Of the bank The firm
as now composed consists of Messrs John Ell |
liotf Charles c. Glover, Thomas HYDE and 70. |
Francis Riggs, the latter being the son of Mr..
Geo. w. Riggs. Mr.. Elliott has charge of the
branch house in New York
HE BECOMES CATHOLIC
Mr. Riggs, it is stated, was in early life con.
nected with the Protestant Episcopal church.
but his life was closed within the pale of the
Catholic church, to which the members of his
family belong. During his final illness Rev.
Father Lynch was in attendance upon him and
administered the final rites of the Catholic
f,,D, a1x,,;n lxol,l