davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-13
Bank is Solvent.

The bank il solvent. The Interests Of The d-lo>i
tor have been safeguared b. the actions Of the Comp
troer's office. hut If the methods and practices
planned of had been permitted continue the results
would have been serious. The evidence will bndantly
show that 1t has been necessary for this office
10 terminate the reprchensblc practices of the officers
in question and their misuse OF the powers delegated
to them by the directors
THE penalty imposed for failure to make reports.
the collection of which penalty they seek to have en-
joined of their unwiingness 10 disclose the
true nature of the transactions engaged in
rhe whole purpose Of the Department has leen
to urge the bank to Civ" up the unlawful and dan
gerous practices and methods which have been In
vogue for years past and which had threatened alike
the welfare and security Of boh shareholders and
deposltors. and require the bank conform the
plain requirements of the national bank act and TO
the regulations Of the office of tn, Comptroller of the
Currency.
I'm view IT the many false ami misleading state
m"nts contained in the announcement prepared for the
Dress by the Riggs National Bank and the references
Of the bank the letters which Il has received from
this office during The paS; six eight months This
Office thinks II proper that the public should be given
further information 10 the contents and pur
port ~ this correspondence and therefore submits
from three If the letters addressed Riggs
National Bank by the Comptroller Of the Currency
since July last and referred H. the statement given
by the bank.
In is efforts To- ascertain the real truth In regard
the operations and affairs Of the Riggs National
Bank letters from time time directed the
bank from the office Of the Comptroller ~ the Cur,
rency for Information.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-13
Penalty for Refusal.

''rhe-,. requests for data III various
refused and on March 80 IN" Riggs National Bank
notified of Imposition OF Il penalty Of 5000 under
;,2:.l Of the United States Revised statutes for
~ refusal furnish Information 10 the Conptroer's
"hice IN regard 10 e. affairs.
"On April Thr Comptroller of the Currency
addressed Il letter thc bank calling It's attention
- various fa~e statements which had been mad. by
its officers under oath and what regarded
deliberate efforts deceive the department ana notified
the bank that in view Of the unsatisfactory and dan
gerous conditions which have come 10 light the
result Of The Investigations of the bank by this office
and the national bank examiners: In view Of the
unreability OF the statements made by your officers
under oath or otherwise and your long defiance OF
the law and disregard for the instructions Of this
office you hereby notified thar the Comptroller of
the Currency vii until further notice ref ~, TO ap
prove the Riggs National Bank depository for the
reserves Of other national banks"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-13
Red Cross Funds Withdrn wn.

Tho complaint charges Secretary
NCAdoo and the Comptroller Of the Cur-
reucy further with bringing about the
Withdrawal "f n" Fed Cross deposits
from the bank.
Tho bank officers say that m IA, eigh.
teen years OF the banks existence n had
received from former Couptrullcrs ~
the Currency only twenty-sevcn letters,
hut In Mr.. Williams brief ruiz. IL had
received fiftv-one and rs correspond.
ence with him covered sos printed pages
exclusive ~ elaborate St1tls'I~e pre-
pared a. Ms demand.
The letters OF Comptroller Williams
30 the officers declare. hay" br.r uSo-
lent and insulting and frequently cou-
ta!ned maI!cously false imputatious
against the vera city and integrity Of the
officers. They add that Williams em-
phaa!zed his threats ana misrepresea-
tations hy using capitals and italics
They assert that when they had made
frank and STRAIGHTFORWARD requests for
Information from him as 70 his desires
ne replied with false charges, threats
and insinuat!ons
The bank officers say that the board
OF directors, mystihed by Willlamss con-
duct. addressed a letter 20 him asking
IN good faith for any suggestions as 70
DDS and calling nis attention 10 the fact
that the officers had answered his ques-
tions fully, freely and frankly
Mr. Williams replied Your artless
inquiry Is understood and appreciated"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-13
Bank Officers Assailed.

1T seems in order ~ this time TO sigs.s IA your
board that when the active officers of national bank
are engaged IN hazardous speculation on borrowed
money thar is bad enough but that when these officers
secure the funds for their >lecuatons from their own
bank or other banks through the of dummy loans
on notes signed their request by the bcokkcopcrS
and other irresponsible clerks Of their own bank and
by the clerks Of ne-hboring banks ana companies
this reveals degree If imprudenre. express II
mildly, and Of Indifference the elementary PRINCIPLES
OF conservatism and correct banking which chal euges
the fitness Of such officers for any position what
on the executive staT ~ any decent and honorahlv
conducted bank"
In still another letter To- the hank Comptro er
Williams said
The Investigations Of the bank examiner had
raised serious question whether or not your bank
had collected the proper If interest which was
entitled 10 receive from its officers on loans Clarge
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-13

of The letters tho Riggs bank gwen ont by
Co'nrtro..cr Williams under date Of January %
1871 H. il b" said:
You are icreby imonished that this office strongly
d.>ljprnyes OF the policy and practice Of having the
president y,,l,rssident and cashier OF national bank
,un,uc, brokerage shop or business within and
OF the business OF the national bank buying and sell
iu- speculative ami wildcat stocks and other securities
@ rrnulS Sion and using the bank the agency for
rurryin. 81 margin stocks and other securities thus
bought ana sold AMI dealt In.
"llr' books of your bank snow that large sums of
money being loaned speculative securities to the
# ypur bank and 10 It's clerks and employees In
these >lt-'l.arous. This office regards this a de
noraYa. example the other employees Of your bank
In speaking Of the loans made Ia the cashier
of your bank aggr"gating S'3.HU, you declare that
'h".r were secured by high class, marketable
,"'a aui on "r town stocks aud bonds, having "A
mari yalu" ~ $4,000 although at to-iay's prices
Ih,'y hgrc'y the loan.
"Anong IN" high class. marketable local and
utt ~ town stocks and bonds the following:
200 shares 81. Louis and San Francisco preferred
market value I.
100 shares Rock Island Railroad common stock, l.
100 shares Rock Island preferred stock, ~,
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-13

AS matter Of fact the interview referred 10 the
that he had rised approved M TRUE before their
publication the statements shown been false pub
lished In the New York newspaper.
This admission made by Vice President Allies
Secretary Of the Treasury. Mr.. Elliott Counsel and
myself, President Glover and Vice President Father
OF the Riggs National Bank being also present: and
II was after this admission that the Secretary of th.
Treasury the SINE day. December 4. 1913 gave out
statement to the press in which he said The source
Of this publication Is known AMI thoroughly dis.
credited by this Department"
In regard to the brokerage business compa med OF
hy Comptroller Williams, officers of the Riggs Bank
say that fees earned through the membership Of presi
ngon Stock Exchange all turned into the profit
and loss account of the bank used for bank purpses
The officers contend that they were Transferring on
their personal responsibility without the issue of
bank funds certain business which the bank Is not
allowed by law t" transact and voluntarily giving
IN" fees to the bank. They then that there
was no evasion Of the law for the banks funds were
not used for this purpose
In all caS"~ Of the so-caed dummy loans security
according 10 the officers of the bank was annie and
there was no evasion of the provision against excess
oans. The officers contend also thar there was no c,n
ament from the bank examiners - the collateral
showed - whom it belonged
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-13

c,edinr oue-te1th % - c,n,,,' and su--
plus Tho books o. tho hsnI. Vnr. 5u..
MO and nothing ay.- established 20
prove tina, in. ,rarr. "a. .ru.
The NIur.,, Trust r,mr,r, ,p,.dor,
In V4sii,.q,,r 49,, .,.., ..,,,.s,.,.,,'...
-,r,a,iop iron ,,, Tr....,,,..' H. ,J.. ~.
,,rr..,I t,i,,. am had .'..,,i-.i -
naner .,f,.,. 80, ,,. r.,..,,'..,... 49,,
-. .,,,,,.l -,,,.,. ~. l, ,.,.,,..,...',,.'
r,..- ..s Ir,r,,,,,.... ..,..',... ~, ,,,'..
..'t g., a.. -. '
,,.,,.,..r.,f'r 49,. t'
..,.,.,'...
~, '.' ''' ''
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-13
Loans "ScantiIy" Secured.

som. of these loans had sufficient margin but
these women Ind any balances with Your bank upon
which they might have drawn to make good ShrukagrS
in their collateral and much Of In" collateral was
# slow character, il Is uncertain what the results
would have been would lee if ii should have been
necessary or should ~ necessary for You Ia call those
loans.
AS an eXampl" Of III" evils which hav. resulted
from the policy and methods pursued by Your bank
in this connection Will cite the WHO il sp-
pears purchased through you in January laStN neither
through your activ" solicitation otherwise. am not
lnfomsl-l,Ooo shares Of Rock Island preferred stock
and 800 shares of Rock Island common stock AZ n cost
If s26,9s7.5O
These stocks in the brief period Of SIX months
hav" shrvecd up 81 that to-day they are worth m
current quotations scarcely 5000. showing a loss 10
your unfortunate" customer including I'M crest of NOR,
than $4,000
The commission, which you collected of Sls7 So
II seems 10 me Is no compensation for the injury In
hctsi upon your unhappy client who was rs you pre-.
sumaby knew when you made the transaction for
him, man OF limited credit and means and In no
condition 10 engage in such speculation.
He still owes you. | understand, approximately
$4,000 on extremely doubtful security You inform
me that he has given you further protection against
the cost of the Rock Island stock val,l al only
5000. $1,000" Of notes Of the Company"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-13
WILLIAN1S'S REPLY
TO THE RIGGS NATIONAL BANK
MILTON E. ALLIES.

100 shares Missouri Pacific Railway stock, "a.
200 shares Inspiration Consolidated Copper
stock l..
$50 shares Intcrcontlnenta Rubber stock, IA.
Among the stocks securing the loans Ia your as
sisant cashier. which You approvngy refer to ~ rec
ognzed St"-k Exchange collateral notice:
100 shares American Can. market value 26
200 shares Missouri Pacific. market value 90.
Among the stocks securing the loans to Nicelres
dent Father of S63soo appear I15 shares VI ';reene
Cananca Copper stock &c.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-13
CHARLES G GLO<ER
Continued from FIRST PoDc.

Il j. consistent with the attitude OF these officers
O" attempt by unwarranel and untrue statements To
Plac" themselves and the bank in position Of martyr
dom ut the hands of thn Administration.
1T is not the practice of this department to discuss
associations but since the officers In question have hal
the tcmery to submit this matter the court this of
flee is prepared 10 show condition of affairs in the
management of this institution which fully warranted
the acrion taken by this office
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-13

A similar attitude .ess al rc~tly eS
pressed, but Just IA Intense. has bear
felt by many nationA, banks here "a
represen; the feeling OF the Treasury
Department toward some OF the hiEgest
New York institutions The National
City Bank has been particularly the APP
parent objective OF both secretary Nc
Adoo and Comptroller Williams.
The first big evidence OF strong hos
'ility toward New York by the two
officials OF the TreLsury Department was
the haselcss charge by Secretary McAdoo
during tho discussion OF the FEDERAL re
serve BIZ, that the great New York
banks had entered into a conspiracy 70
dcpr-ss the price OF the per cent, bond
OF the Government and thereby to st-i'l"
a blow AZ the cr"dit az the nation.
This charge raised intrns. feeling
among Sew York bdnker-. secretary
McAdoo was Immediately challenged Ia
make good his charge, and he made an
effor; 20 do so through investigation ~
transactions in the bonds by tie banks
The Secretary wa.' finally compelled
tacitly to admit that the charge was
without foundation and the incident was
closed with the feeling even among Adj
ministratior circles that the Secretary
hnd Numbered. The Secretary also dis
regarded New Yorks recommendation
for a small number OF reserve bank di-
visions
The most personal OF the early Incl
dents In tho relations between the two
officers OF the Treasury Department and
the New York banks was tho dismissal
by Secretary McAdoo Of the National
CITY Banks woman clerk who had desk
room In the Treasury Department for
the purpose OF copying public documents
for the bank.
The incident was considered by New
York bankers is AN exhibition of peev-
iah pettlness Ivy the Treasury Depart
mcnt, a.u except a. an illustration Of
the spirit Of the Department was quickly
forgotten,
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-13

rhe canlplalnt odds:

The complaint adds.
shortly after this occurrence Will
iarns and McAdo5. In order - satisfy
'neir personal malice and iiwlll. began
series OF prosecutions against the
lluk for the purpose ~ impairing its
pV.iuess, thereby prostituting their high
Offices and violating their oaths IN orler
Z, vent tnei~ personal vindicttveness
ngairst the officers of the bank
Tn, hank officers charge that McAd)o
deliberately eliminated the Riggs Ma
tiIral Bank from its normal share % the
District OF Columbia tax money. which
long standing The officers charge In
ADDITION that Mr. McAdoo inf.-ned he
h.rf :AAt II vas his purpose ~ With
feav IL Government funds from the
'nsi!tu;ion. This was done, according
!" the complaint. in keeping with Mr.
N,iico's original threat 20 President
Glover
NcAdco ana Williams. the complain,
alleges, next t1-k away from the bank
Sl.liS 600 of The Panama Canal funds
TAey thus effected the Withdrawal OF
$1,000 .Uou IN deposits az a time when
the banks of the United states were
making strenuous efforts 20 husband
their RESOURCES ana AZ q time when the
Riggs National Bank, Il r. charged.
could not dispose # he n nds which
had been pledged as collateral for such
Panama funds because II tie Euroreau
war.
Tho officers insist that THIS conduct
together with Willlamss alleged har-
sssiHg attacks would have seriously
crippled the bank We're n not for IT,
unassailable financial strength.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-13

Selling by mail is the acid
test of salesmanship.
We value highly the e,.
perience we have had in
assisting in the advertisins
of several prominent firms
who sell by the printed
word only.
May we discuss your sales
problems with you without
obligation?
George Batten Company
AdUert,ing
381 4th Ave, at eth S,
Boston NEW YORK Ci.,u
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-13

GERS To OTHER BANKING INSTITUTIONS IN
THE DISTRICT.
zone institution here. it appears, has loaned nearly
s1O00 to your cashier and of your hookkcel"rs
and the loans of the banking institution Of the District
to four Of your officers at recent date amount" In the
aggregate to approximately 100000 for much of
which highly speculative and risky securities were
hyuothccate by those borrowing officers.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-13

Special cnb'e Dsspdrch 10 THr SIS
TIE HAGUr, April l2.--Dr, H,nry van
Dyke, the Tuitci state. Minister to
Holland, IS visiting luNrmhurp IN refer
onto to tho matter os Surprising ',t
llttle grand durhy Win fpodsuNy
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-13
Another Charge Fniis.

The next attack upon the City Banh
Was through Comptroller Williams II
was charged that the bank had violated
The national banking act In loaning 10
Chicago public utility an amount ex-
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-13
RIGGS NATIONAL OF WASHINGTON CHARGES MADOO
AND COMPTROLLER WILLIAMS WITH CONSPARNvG TO WRECK IT

looms 70 rs officers OF members OF
families sine" ia" hank was orSanizcd
Eighteen years ago. Tho bank offered
To allow examiners to obtain this m
formation. hut declined to review tie
History itself
Comptroller Williams thoreupor re-
tanned - 600 interest on United States
BOMBS which the bank had dcp 1sitcd
With the Comptroller ~ security for
circulation. THIS money was retained
a. a continuing porslty for tho failure
OF the bank officers 20 comply with the
Comptrollcr's orders.
The temporary injunction obtained
TODAY Restraints the Comptroller.
Secretary McAdoo and T-rasurrr John
Burke from paving into the. United
States Treasury the $1,000 The order
also calls upon the three c. vernment
Officials To- SNOW cause why they
should not hc enjnined from revoking
the Riggs Nationals designation w. "A
depository of other national haults
Mr. Williams is also called upun To-
snow cause why he should NOT be- on
Joined from calling for special reports
when these are not reasonably uoc's-
sary FOR a fu' AMI complete knowledge
of the banks condition. lie ,~ also
ordered to show cause why h. should
not DE cnioned from interfering or
intermeddling IN the manner COM
planned uf with the banks affairs.
Ra.ic charge IL tonspirnc,.
Til. complain, ;ilcl ir the sup. ne
Court Of the District of Columbia
charges that NicAduo and Williams have
conspired to luiurc the bank irreparably
and have iilgrantly exceeded their
powers.
II accuses McAdoo and Williams OF
having "prostituted their nigh Offices 70
their personal malice. seeking unlaw-
fully to destroy and unconstitutiuusliy
TO coniscatc tho property ot the bank"
The hank officers charge further that
williams and McAdoo have conspired To
impose on the bank unlawful, excessive
and rulnous poLaltics aud have sub
jected the bank to a persistent aud uu-
lawful inquisition.
The plaintiffs declare that the alleged
threat against the bank dates back to
December 4. 1913. when "A New York
newspaper published an article attack
ing secretary McAdoo and Comptroller
Williams In regard to the purchase OF
the United states Trust Company by the
Munsey Trust Company " this city.
NcAdoo summoned the officers OF the
bank to the Treasury Department and
accused them Of being responsible for
the newspaper attack. Secretary Nc
Adoo. II is charged, advanced toward
Nce-Presdent Allies in great anger and
"with a hlasphemous oath shouted: Il
viii order you out OF my office"
Then. turning to Charles G. Glover.
president of the bank. McAdoo is alleged
TO have said:
MIR. Glover. YOU know what this
means to the Riggs National Bank"
Turner County herald. (Hurley, Dakota [S.D.]) 1883-19??, 1915-12-30

er. a trick of the host, consisting of
two rubber bulbs and tube, conceal
ed under the table cloth.
After the excitement had died down
the meal was finished and the party
moved with as much agility as they
could muster to the spacious living
room where an informal program of
imprompetu stunts" was carried out.
Rev Patterson forgot his dignity
~ sufficiently to enable him to pull
off vaudeville stunt of funny songs,
Mr.. Brown told funny stories, Mrs.
Patterson gave child reading, and
Mrs. Joyce sang. Mrs. Bach made
quite reputation for herself as a
speech maker when she was made the
recipient of a salad bowl as a Christ
mas present from the guests.
The party finally broke up, and the
happy guests departed, wishing that
home duties did not call SO soon, but
carrying with them the memory of a
most delightful time spent at the
home of Mr.. and Mrs. Forest Bach.
Turner County herald. (Hurley, Dakota [S.D.]) 1883-19??, 1915-12-30
Methodist Church Tree

On Christmas Eve the Methodist
Sundayschool observed Christmas in
a unique way, giving a finely prepar-
ed program, The Christ Child in Pan
tonnime and White Gifts for the King.
In the soft glow of red lights which
had been installed by members of the
Young Mems class, appeared the
Angel choir Annunciation to Zach
ariah and appearance of the Angel
to the Virgin. The meeting between
Mary and Elizabeth and the Mother
and Child. The coming of the shep-
herds and the wise-men with their
gifts; were all very real as all appear
ed in oriental costume. The tableaux
were interspersed by singing by the
children. A solo by Miss Florence
Muilenburg and by Miss We've Brow
ers, also a number by the male quar-
tette. These We're finely rendered and
much enjoyed. The following scene
was the Illuminated cross guarded by
two angels. Mrs. Brazzell gowned as
deaconess, followed by nurses re-
ceived the white gifts for the King
and placed them at the foot Of the IL
Illuminated cross. The climax of the
program was when the Brownies
went in quest of Santa Claus aaa
brought him in, bearing the S. S.
treat. Everyone present pronounced
it fine program The house was
packed and splendid spirit prevail
ed throughout.
Turner County herald. (Hurley, Dakota [S.D.]) 1883-19??, 1915-12-30
CHRISTMAS PARTY

A merry party of Hurley people,
consisting of Mr.. and Mrs. Ed. Brown,
DR. and Mrs. Joyce, Rev. and Mrs. Pat
terson, and Mrs, George Wormmood
journeyed by auto to the rome of Mr..
and Mrs. Forest Bach on Christmas
morning. Here they enjoyed the
splendid hospitality of the host and
hostess, and partook of an elaborate
fve-course turkey dinner, served in a
most tasty manner,
The dinner progressed nicely, garn-
ished the merry repartee.tof the crowd
till about the third course when Rev.
Patterson startled the company by am
nouncing that his plate was jumping
into his face. DR.. Joyce diagnosed
the abnormal condition as clever
case of NERVES" Forest Bach pro-
nounced it something stronger, and
Ed. Brown claimed that the turkey
was not dead yet, but when the per-
forrnance was repeated number Of
times, the whole company concluded
that they were seeing ghosts. They
began Investigations. only to discov-
Turner County herald. (Hurley, Dakota [S.D.]) 1883-19??, 1915-12-30
Fine Band Concert

Last Wednesday evening the Hur-
ley Band gave one of their concerts
which was considered by many as
being the best band concert ever
given in Hurley.
A very pleasing feature of this
concert was the absence of the brassv
blare that so often many bands adopt
in playing indoors. The band played
in true harmony, and in such soft
smooth manner, that it had the
sound more like a pipe organ or
orchestra.
Under the direction of Prof. C. F.
Sinclair the band shows wonderful
improvement, and the solo work of
Prof, Sinclair alone was worth at
tending the concert.
While the band boys appreciate
the financial nelp that the business
men are giving it, yet they feel that
they are putting up a class of music
at their concerts that warrant a
better attendance. #
The Band will in the near future
give another concert at which time
there will be more of a variety. in
cluding solo work, musical novelties
and perhaps singing, etc.
While we all appreciate our band
and enjoy their free concerts given
in the summer evenings, let's not
forget that the band needs financial
help, and encouragement, and we
could not help them better than by
attending their fine concerts.