Evening star., 1923-06-17


tire board of directors and members
of the advisory council of Riggs Ma
tional Bank, a portrait of Charles c.
Clever chairman of the board and
for the past fifty-eight years promi-
nentIy identified with the interna-
tionally known institution, was pre-
sented to the bank at a dinner ten
dered the noted tinancier by Milton
Z. Allies. president of the bank, at the
metropolitan Club last night
The presentation of the portrait
which is the work of the well known
artist, Edmund c. Tarbell, was timed
to allow members of the riggs fam
lily" opportunity to extend Mr.. Glover
well wishes for his summer vacation.
on which he viii leave shortly, and
to celebrate the near completion of
the main building of the bank. The
portrait will adorn the walls of the
bank when final improvements have
been finished
Mr.. Allies presided as postmaster
and in outlining the purpose of the
gathering paid a beautiful tribute to
the man who for more than "a half
century has worked so indefatigably
for the success OF the Institution and
the betterment of Washington in
general.
Frank J. Hogan, general counsel
of the bank. was then called by the
chairman. and, briefly recalling the
long and honorable record Of the
principal guest of the evening. deliv-
cred the presentation address.
Alert and active as man half his
years, Mr.. Glover responded, and in
thanking his co-workerS, many Of
whom he has known since childhood,
stressed the growth of the institu-
tion and city during his busy life.
Started as bookstore Clerk.
The story of Charles Carroll
Glover's rise from the position of
clerk in a book store to head of one
Of the most widely known banking
institutions in the country can hardly
help serving as an inspiration To
those about to enter the banking
business.
Born on farm in Macon county.
North Carolina in 1S4S, Mr.. Glover
served as clerk in u book store for
three years prior t" entering, at the
age Of nineteen years the employ
clerk. He rose rapidly with the COM
Iany and became partner of the
firm in 1873, and since its organiZa-
tton, July l, 1896. served as presi-
CcllI OF the RIGGS NatlOndl BANK, un-
til relinquiShing that position to Mr..
Allies, and accepting the Craftsmanship
OF the board of the institution.
Mr.. Glover has always been in
tcnscly interested in the upgrnwth Of
Washington. He inaugurated and
successfully carried through Con-
gress projects for the establishing of
Rock Creek, Potomac and Geological
parks and was also a leader in the
adoption of the L'Enfant plan for the
development of Washington. He has
heen an ardent worker for the erec-
tiun of the Episcopal Cathedral at
Mount st. Albans, the American Uni
Nerslty buildings, the new Corcoran
Art Gallery and other important
PROJECTS in the District.
Guests Present at Dinner.
Among those present were Charles
c. Glover, Milton L. Allies. William
J. Flather, Joshua Evans, jr, Robert
'. Fleming. Charles Carroll Glover.
Jr., Frank j. Hogan, Avon NJ. Nevius
George .. Nass, Hillary G.. Hoskin-
son. Earle NJ. Amick. F. e. Bur-
rough. George NJ. Mckee, Charles l.
Jelfries, John s. LarcomLe, Henry t.
Spencer. julius GarfinkIe, Fleming
New bold, James Marion Johnston. jr
Harry +. Clarke, Randall Fl. Hanger
Dwight Clark, William Fl. Donovan,
Arthur Carr. Charles T. Clagett. John
Oliver La Gorce. Chester H. Warning
ton, Pere y. Wilmer, Bertrand Fl.
Roberts, Herbert L. Davis, G. Francis
Rainey, Ralph r. De PREF, B. L.
Boudren, William A. Dexter Annie
ton =. Clark. jr., c. Wohlgemuth. T
j Roberts and William NJ Ritter.
Will Close Saturdays Early,
announcement was made Yesterday
that the Chevy Chase Savings Bank
would be open on Saturdays from
$3.50 am. until L pm. and will not
reopen in the evenings from June 23
to Labor day.
Petition i'm Bankruptcy Filed.
A voluntary petition in bankruptcy
was filed in the District Supreme
Court yesterday by the Stock Ex-
der NJ. Fisher. president. This action
was taken to prevent the execution
of decision recently handed down
by Judge Mattingly in the Municipal
Court.
The Stock Exchange Security Cor
poration is Il Delaware corporation,
organized August, 1921, and. accord
ing to the petition filed yesterday
has assets of $1.956.64 and liabilities
of S2.59547. Attorneys for the cor
poration are james +. SpIain and
O'Brien & OByrne.
Regarding the action taken by the
company, Mr.. Fisher explains;
petition in bankruptcy is neces-
sary because of the Judgment in the
Municipal Court, May 15, 1928, by
Judge Mattingly in case of Stock Ex-
change Security Corporation VS.. II.
II. Byrne of 900 F street Judge Mat
tingly held that a note on which
the corporation sued was invalid and
the contract of subscription for stock
was void. Judgment was given for
$500 and costs in favor of Byrne for
money he had paid into the corpora
tion on account of his subscription
The Delaware constitution pro-
XideS in section 8 that No cnrnnrati ion