New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-04-13
RIGGS BANK SUES
TREASURY HEADS

/ standing, and the pursuance OF such
system would have required that one
/ fifth Of the amount so deposited be
| deposited in plaintiff bank, whose de
/ positors had paid about one-hfth OF the
/ total taxes then paid; and further,
that when President Glover, OF the
bank. inquired the reason for such
gross discrimination, defendant Nc
Adoo replied that plaintiff bank did a
relatively small commercial business
and added: II is my purpose to with
/ draw all government funds from the
Riggs National Bank and that he dId
so withdraw such government funds
| and did discontinue said bank as
: government depositary in accordance
with his aforesaid threat, Mr.. Glover
you know what this means to the
/ Riggs National Bank
/ The bill also declares that while the
plaintiff has received from former Con-
trollers of the Currency during the
nearly eighteen years Of its existence
only twenty-seven letters, the bank has
received from Williams and his sub
ordinates ffty-one letters, and that ITS
correspondence with the Controller Of
the Currency covers SOB printed pages
which do not include very voluminous
H
pared at the demand of and submitted
to the defendant Williams in a futile
effort to meet and sa.isfysa and prevent
a continuance of his unlawful demands.
Williams Declared lnsolvent.
THAT said correspondence is con-
fused, involved and without orderly ar
rangement, and that many of his com
tcu IN in
sulting and frequently contained mali
ciously false imputations against the
veracity and integrity of the plaintiffs
officers, often employing in official cor
respondence italics and large capitals
to emphasize his threats and msrep-
reservations. He has wilfully distorted
; facts, emasculated evidence and con-
demned in most opprobious terms per-
fectly legitimate transactions and has
hidden behind the law-given privilege
OF his Office to compose and publish in
famously libellous statements.
"The bill then enumerates various
lines of inquiry pursued by Williams,
his demands for the deposit balances
of individual depositors, for detailed
information regarding the telephone
and private wires maintained in the
bank by certain Of its correspondents,
al of which, the bank AYERS, the Con-
troller was without legal authority to
ask for.
THE bank AYERS that said Williams
has maliciously used his high office as
cover to pryImpertinently arrogantly
and insolently into matters with which
he has no official concern whatever, for
the purpose and with the intent to i'm
pair or injure the bank in order to
wreak his vengeance and that of Nc
Adoo on account Of their personal
hatred of certain of its officers.
THE bill asserts that Williams ex-
erclsed great ingenuity and determine
ton IN his malicious efforts to injure
the bank in the minds Of its numerous
correspondent banks by hampering and
harassng it and interfering with its
efforts to serve such banks.
"The bill concludes by charging that
the acts of McAdoo and Williams, I'M
less enjoined by the courts. would re-
suit in depriving the plaintiff bank and
its officers of their rights under the
Constitution Of the United Sthtes."
Largest Bank In District.
The Riggs National Bank is the larg
est banking institution in the District
OF Columbia. its total deposits amount
ing TO one-fourth of the aggregate de-
posits in the national banks of the
District. IL has a capital Of 81 900. 900
and a surplus of 50 100000, its total
resources amounting to sl5,000,0O0. Or
gained in 1886 as the banking firm of
Corcoran Riggs, il later became the
private bank of Riggs & Co.. and in
1896 was chartered as the Riggs Ma
tional Bank.
The Riggs Bank has had the account
of every President Of the United States
from Van Buren, to and including Will
lam II. Taft. II recently turned over
10 Robert T. Lincoln a bundle Of his
fathers cancelled checks. including one
reading: PAY to a colored man with
enc leg, five dollars" and signed "A.
Lincoln"
The banks letters of credit are ia
miliar TO every big banking house in
Europe. One of its most important
achievements was its part in the fnanc-
ing of the war with Mexico, it having
marketed in London the bonds of the
United States issued for that purpose
Officials OF the National City Bank
said last night that this institution was
in no way connected with the court ac-
ton of the Riggs National Bank of
Washington in seeking an Injunction
against the alleged malice of Secretary
of the Treasury McAdoo and John Skel-
ton Williams. They also disclaimed
any official relationship with the Riggs
National