The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-04-14
John Shelton Williams Broad
Side Struck Them In The
Raw Drawing Their Fire
Refer To Georgia
and Florida Bonds
Louis Brandeis Employed AS
Council 10 Fight Injunction
Proceedings Treasury and
Justice Departments lnAccord

Washington. April l3.-~-Another gum
was fred tonight ia the fight be-
tween Secretary MeAdoo and Comp
tfetler Of the Currency Williams. on
the enc side. and the Riggs National
Bank ON the other. The officers of
the bank made pubic a statement
answ eng the charges of Comptroller
Williams that they had used the banks
as stock brokerage Office, tAat they
had loaned more than 81 100000 TO
women Oh Aighiy speculative securi-
ties. that the officers themselves had
borrowed money on wild cat securl-
ties ana chat dummy loans had been
made
The reply of the Riggs bank is fully
as severe upon he Comptroiier of the
currency as the remarkable complaint
which IL fled N he District supreme
Court Yesterday asking the court to
protect the bank against the alleged
malice Of Mr.. Williams and Mr.. Me-
Ad8o,
Hit Back at Williams
The banks officers ~ their -tate-
u1rut tonight charge Comptroller WI
lams with having included in his
statement a falsehood for the pur-
puse ~ creating the impression that
the Department ~ justlce regarded
his charges as warrantins legal action
E
amphat3cally deny the comptroier's
statements in regard To the making
Of loans on highly speculative Sc
earsties without proper collateral
They accuse Mr Williams Of malicious
I Misrepresentation especially In his
EFFORTS 20 create the impression that
officers az the bark have been borrow
ing money from II on wild cat
stocks. The, point cut that Comptro3-
s+4 ast 9
on these loans. mentioned only sma II
narf az the securities. om}ttnE entire
~ stocks II standard character
IN connection with The co,npsroller's
reference to wild eat stocks the off
GERS of the bank suggest that II Mr.
Williams stlutiny had been closer. he
tntght have discovered collateral 70 Il
/ particular loan In the bank which
would have interested him personally.
This collateral the officers say con
.fsts ~ 0nn Georgia and Florida
Railroad COMPANY bonds or little or 10
market value Of which road he 'Wtl-
lIans4 was formerly THE president. and
which bonds he Was Instrumental in
marketing"
rhe hanS OFFICERS say, however that
I this- loan Is adequately secured by
other collateral
hank Officers taaic-"u~ charge.
The banks charge Of talsehood
against Comptroner Williams is based
ON an incident which occurred imme
aiateiy after the cabinet meeting and
With mas strengthened the Impression
that some members Of the cabinet are
NOT entirely pleased with the character
or tho statement which the comptroller
made public last night
Attorney General Gregory, upon
leaving The cabinet meeting, said that
Louis n. BrSndes tive Boston lawyer.
Il had not been retained as special coun-
sci by the department of Justice. but
had been engaged hy the Treasury De
pgrtment He added that the Riggs
Bank matter never had been laid be
fore the Depa rtnent OF Justice ON
ciaiiy with a view to proceeding
AGAINST the bank officers.
These remarks by the Attorney Gen .
eral seemed re contradict fatty the
statement OF Comptroller Williams.
who said last night:
THE recent Investigations OF the
Riggs National Bank disclosed ire
gularities and unlawful practices on
continued on Second page.p