Evening star., 1921-06-13
GLOVER,
RIGGS BANK HEAD,
TO RESIGN TODAY
Will Become Board Chair
man, With Milton E. Allies
as Executive. -

Charles c. Glover. president of the
Riggs National Bank. will tender his
resignation to the. directors of the
institution at a meeting in progress
this afternoon. 1t will be accepted
with expressions of sincere regret.
and the board will select Mr. Glover
as chairman of the board of directors.
Milton E. Allies, for eighteen years
vice president of the bank. will
ceeding Mr.. Glover.
Robert V. Fleming. cashier OF the
bank. is to be given the dual title OF
vice president and cashier. and Charles
G. Glover. jr., is to be made vice
president. according to plans OF those
at the meeting.
Mr. Glover. now in his seventy-ffth
year, has long contemplated the action
to be taken today. but has withheld
his resignation during the last eight
years.. feeling that the big bank OF
which he has been such part Tor
fifty five years. required the services
of the old pilot during the storms OF
war and. the reconstruction period.
He also yielded to the continuous
urge of Mr.. Allies. who considered
Mr.. Glover's leadership and wise coun-
sci absolutely necessary. --.-.s,
-,. BeEan, Jsly 5. 1893.
July 5, 1865, Charles Carroll Glover
entered the service of Riggs & Co. IN
a minor capacity; and his rise in
was rapid and steady through
the various stages of accounting. re-
ceiving and paying teller, up to the
presidency. which he now yields gra-
ciously, feeling that he has borne the
heat and burden of the day and has
won the right to rest. -
In neU canacitv he VIII be IN
close and intimate touch with Dusl-
ness and business men-a necessity to
one who has been active all these
long years-but he proposes to nave
needed leisure time and recreation.
Mr. Glover began his business career
with Frank Taylor, owner of book
store on Pennsylvania avenue Just
east of the National Hotel. Mr.. Tay-
Ior was from Georgia. and his estab.
lishment was the meeting place OF
senators, justices and politicians gen.
orally.
while here. young Glover enjoyed
a very valuable experienced He was
grounded in detail and was brought
into direct contact with many men
whose friendship proved valuable In
later life.
when he joined the bank of Riggs
& Co, banking was conducted diner
emily from today. Each institution
had to stand on it's own foundatlon.
There was no Federal Reserve Board.
no system. There were no clearing
laborious and expensive and much
interest was lost through the many
days in transit.
All clerical work was done by hand.
typewriters and adding machines were
not thought of. and banking hours
e.15 nm. being the order of the day.
In 1874 he became paying teller OF
the bank, and little later. Just seven
wears after entering the bank, he was
invited by George W. Riggs to become
a partner.
has been a power to be reckoned
with in the financial world. and very
little has gone on in the bank save
under his guidance and encourage
ment.
nartner. W. W. Corcoran. had pre-
ceded him. Their joint fortunes had
their foundation in the war with Mex
leo. which the hrm financed for the
United States.
Reorganized n Bank.
Liquidation of Riggs & Co. fol-
lowed, and then a reorganization as
the Riggs Bank. Good will was not
Francis ". Riggs entered the firm.
In 1896 the Riggs National Bank
was chartered. and Charles c. Glover
was elected it's first president. an
office which he today yielded. with
the bank the largest in resources in
the city.
in active management Of the insti-
tuition. and. while he has been absent
occasionally. he has closely watched
the loans, the collateral and the ma
terial progress Of the bank. while at
ali. times being to the fore as one of
the leading citizens of the District,
with invaluable results.
That he will still be guiding
mower in the Riggs National Bank as
chairman of the board of directors is
a source Of pleasure to Mr.. Glovers
many friends. -
Milton Everett Allies, who is to. be
the new president. is one Of the best