The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-06-03
One of the Historic Landmarks
of Washington.
STARTED 80 YEARS AGO
Great Names Found Among
Its Musty Records.

bank, which stands just opposite the
treasury, on the corner Of Fifteenth and
F streets, in Washington. In its earliest
days it was the Branch Bank OF the
United States, an adjunct Of the National
Bank, which was originally located at
Philadelphia. Although from Jackson's
time until July /, 1896, it was not ma
tionaI bank, it has played an important
part in the financial history of the United
States government. Nearly every presi-
dent has deposited his money in this bank
and those who had none for deposit have
come TO it for loans. Such men as Daniel
Webster, General Winfield Scott, Presi-
dent Tyler Jefferson Davis, Nathaniel
Hawthorne, William H Seward, Stephen
A. Douglas, James Buchanan, Salmon P.
Chase, Grover Cleveland and hosts of
others too numerous to mention carried
on business with this bank, AND their
correspondence is among the mass of pa
pers belonging to the effects Of the old
institution.
When the Branch Bank of the United
States first started in business here IL oc-
cupied quarters in a little building on
Thirteenth and F streets. Early in the
POS the present building was erected.
Historians fix the date at 1927, but this
does not tally with the accepted legend
that the structure, while in process OF
completion, was used as a. ball room in
honor of General Lafayette, who was
then paying his second visit to this coun-
try.
The bank is an ordinary old brick struc-
ture two stories high, succeed over and
painted a bilious looking color, which the
ravages Of time have not improved. The
windows have the little old by 10 panes
Of the antiquities, and the woodwork is
as seedy looking as an old silk hat that
has done duty for many seasons. It
shows not only the ravages of time, but
that it was constructed when there was a
lack of proficiency among carpenters and
workmen. However, it was built on the
substantial plan and Is still good for
progressionist will only leave it alone
and not sacrifice it to a spirit of enter
prise Already one of the most historic
portions has been torn down to make
room for the new bank building. This
was the cashiers residence, which ad-
joined the building on Pennsylvania ave-
nue.. This building. when first heard Of
was occupied by Richard Smith, who was
cashier from 1911 until the windup of the
original bank after the disasters of 1887
On the Fifteenth street side is the old
structure which did duty as a smoke
house, for in those days every gentle
man cured his own meat This was
moved forward to the street and utilized
for a real estate office.
General Jackson waged hot warfare
against this bank. When he was a cam
didate for election every reason under
heaven was advanced in his favor ex-
cepdng a needed change in the banking
system, yet on this ground he made his
most decided stand Through his policy
he wrecked the parent bank in 1887. and
the branch went down with the wreck.
The first officers of the branh bank
were Samuel Harrison Smith, PRESIDENT;
and the directors were William Writ, at
torney general; Thomas Swami. district
attorney; W. w. Seaton, Anthony GAIA
move of Alexandria and General Walter
Smith of Georgetown. After the failure
of 1887 the firm still continued to occupy
this building until the business of Che
bank could be wound up
In 1887 Mr.. W. w. Corcoran was doing
a brokerage business in a small store
streets. His early ventures in business
had not been successful. as he failed in
business previous to this time, but he
seemed to profit by this dearly bought
experience, for from this time forth
everything he seemed to touch seemed to
turn TO gold. He is remembered as one
oc frrf IN,
Washington, and it was through his gen.
erous gift that this city became the own
er of the Corcoran Art gallery. Many of
the pictures now owned by the govern
ment during the time of the war adorned
the walls of Mr.. Corcoran's dwelling, and
were only saved from confiscation by Mr.
Corcoran renting the house to the French
minister. who Immediately raised the
French flag over the domicile, and made
il neutral ground.
Mr.. Corcoran was born in 179S. Instead
of obtaining a classical education, as his
father wished, he left school at an early
age and engaged in the mercantile bust
ness, from which transaction he came out
with nothing left but experience. He as
ISOLATED with him in business in 1910 Mr.
George w. Riggs. and the firm was there
after known as Corcoran & Riggs; until
1854 when Mr.. C0rcoran withdrew and
the firm became Riggs & Co, Mr.. George
George ". Riggs coming back into the
business. It was in $40 that Mr.. Corco-
ran settled up with all his former credi-
tors for s46o 90. a proceeding that business
men thought unusual as he was under
no legal obligations so 10 do.
Nr. George Riggs. the first partner of
Mr.. Corcoran. was born in 1918, and died
in 1881, after an eventful life. He was
not as fond of business as his PARTNER,
bat yet enjoyed his work in q way. He
was Yale man OF the class OF 1s35 His
early school days were spent az Round
Hi school, where George Bancroft was
once employed as an under teacher He
was a member OF the firm from 1910 IN
IL 1915 at which time ne withdrew, as he
did not kke taking the risks that his
partner favored He was succeeded by
his half brother. Elisha Riggs. but came
bark into partnership when sir. Corco-an
retired He was & large-hearted man.
and, his humane instincts always asserted
themselves in his dealings with his feI-
low men When he died st was said o.
him; lie was a man peerless in the e.
tiEnatlon % the community IN which be
lived. ana had a Worthwhile reputation
to- commercial and private integrity"
Elisha Riggs. father % George ".
RIGGS. although never Acknowledged IS
one q tie firm, was really the backbone
OF the institution. II was his money. his
credit and his brains that ooctroiled
things % q large extent In the f-ag-
nents Of q private IetteC which he wrote
W. ". Coroo-an February {. 81. presun
ably 2oout the purchase OF tbs banking
property. he said:
Ny opinion IS that yog estimate the