Evening star., 1915-04-13

tracts furnished the press
The recent Investigations Of the af-
closed Irregularities and unlawful prac-
tices on the part Of certain officers OF
suffl flcient Importance to merit their ref
erence to the Department Of Justice.
Ices of Louis D. Brandeis of Boston
some weeks ago as special counsel in
the case.
Attempt at Martyrdom."
TT is consistent with tho attitude of
these officers to attempt by unwar-
ranted and untrue statements to place
themselves and the bank in position
of rnartyrdom at the hands of the ad-
ministration.
TT is not the practice Of this depart
ment to discuss in the public press tho
affairs Of any national banking asso-
citation. but since the officers in ques-
tion have had the temerfty to submit
this matter to court, this office Is pre-
the management of this institution
which fully warranted the action taken
by this Office.
The bank is solvent. The interests
the actions of the controllers on1ce,
but il the methods and practices COM
planned of had been permitted to con-
tinue the results would have been seri-
GUS. Inc evidence Will duuuuoA.is
show that it has been necessary for
this office to seek to terminate the
lreprehensible practices Of the officers
| in question and their misuse of the
powers delegated to them by the d.
rectors.
The penalty imposed for failure to
make reports, the collection of which
penalty they seek to have en5oined.
grows out of their unwillingness to
disclose the true nature of the trans
actions engaged In
Calls Methods "Unlawful."
THE whole purpose Of the depart
ment has been to require the bank TO
give up the unlawful and dangerous
practices and methods which had been
in vogue for years past, and which had
! threatened alike the welfare and So
curity Of both shareholders and de-
| positors, and to require the bank to
| conform to the plain requirements OF
the national bank act and to the regu-
| lations Of the ONCE of the controller
| of the currency.
"In view OF the many false and mis-
leading statements contained In the
announcement prepared for the press
references OF the bank to the letters
| which It has received from this ofloe
| during the past six or eight months.
pusie Ins oas Should id'nbs ss nven p Further @ in
formation rs to the true contents and
purport Of this correspondence. and
! therefore submits the following e1-
! dressed to the Riggs National Bank
| by the controller OF the currency since
| July last and referred to In the state
ment given out by the bank:
Says Information Refused.
TN its efforts to ascertain the real
|
affairs OF the Riggs National Bank.
| letters were from time TO time directed
t to the bank from the Office OF the con-
These requests for data In various
cases were refused, and March 80 tho
| Riggs National Bank was notified Of
the imposition Of penalty Of $4,000.
Revised Statutes for its refusal TO fur
| nish Information to tho controllers
Office In regard to its affairs.
Claims "Attempt to Deceive"
April the controller Of the cur
| rency addressed q letter to tho bank
directing its attention to various false
statements which had been made by
it's officers under oath, and what are
| regarded as deliberate efforts to de-
ceive the department. and notified the
bank that 'in view Of the unsatlsfac
tory and dangerous conditions which
have come to light a 8 the result OF the
investigations of the bank by this
office and the national bank examiner:
in view of the unreliability OF the
statements made by your officers under
oath or otherwise. and your long-con-
| tinued defiance of the law and disre-
gard for the instructions of this office,
you are hereby notified that the con-
troller of the currency will, until
further notice, refuse to approve the
Riggs National Bank as depositary for