The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-04-06

WAsnINGroN, April 5.-As a result OF
the fight prompted by Treasury offcials
the Riggs National Bank. which is the
representative In Washington Of the Ma
tional City Bank Of New York. may
withdraw from the Federal reserve sys-
TEN and take out 4 charter. TO do busi-
ness here. from Maryland or some other
nearby state. The case brought against
the Riggs bank at the Instance Of Secre-
tary OF the Treasury McAdoo and Comp
troller of the Currency John SHELTON
Williams has again been brought TO the
Supreme Court to-day BY counsel for ehs
bank.
They presented motions praying that a
date earlier than May . be fixed for the
trial Of President Glover. Vice-President
william J. F1ather and ex-Casher II. IL.
Flather. under Indictments for perjury
brought last October. and second. that
the District Attorney be compelled to
furnish a bill OF particulars on which the
indictmerts were based.
Embodied In The motion Of the banks
counsel is the Sssertion that Comptroller
| Nila'oii uas IuuItdtcu u puTpO9e 10 ucny
renewal OF the bank' charter, which
expires July /. and to use the pending
perjury indictments a. a ground for his
refusal.
Williams's Denial COntradicted.
Tho publication Of this assertion pro-
duced u statement from Comptroller
Williams containing the following:
This office has received no appiica-
ton for a renewal Of the charter Of the
Riggs National Bank. and no statement
has been made by the Comptroller TO the
efeoA that an application would he re-
fused II the banks condition at the time
Of filing tho charter shout be solvent
and II the proposed officers and directors
of the bank should be men Of character,
integrity and unblemished reputation
THE apparent contradiction between
the ConUtrollers statement and the as
eertion embodied in the banks motioS
was cleared away by information which
came from = high source tonight. This
information 10 to the effect that while
no formal application has been made to
the Comptroller for q renewal OF the
banks charter his views have been as
~certained informally and that his willing
ness to grant a renewal was conditioned
on a requirement hat the directors OF
the bank remove from office Pr~siden,
Glover. Vice-President william J. Flather
and Vice President Milton T.. Allies.
The latter was not included In the In
dictments eturned by the Grand jury
against the other officials. The directors
accepted the resignation OF Cashier ii
Z. Father at the time the indictments
were returned.
There are reasons for believing thu
directors Of the Riggs bank regard thu
Coinptroller's condition as humiliatine
to the institution n unjust to its Off
GERS. The inference Is drawn that thu
bank will refuse to remove its officer.
and that II The Comptroller persists n
his attitude It will seek a State chartel
to do business.
Would Iiauidate First.
Bank experts say that while this pro
tedure would involve the liquidation o
the banks u II could be accom-
plished without considerable incon
venience TO the Institutions clientele
Under present conditions the authorize
Of the bank are believed to entertain tn
opinion tina It would be better OIL out
side the domination OF Comptroller Will
Jams, even II this freedom had to b
accomplished Mt the price OF Withdrawn
from the Federal Reserve system.