Riggs Bank under scrutiny over secret loans and dummy notes
Washington 1915 officials at Riggs National Bank face a sweeping inquiry by the Treasury Comptroller into illicit loan practices. The request seeks a five year itemized report of all direct and indirect loans to officers, including rates, discounts, and whether payments funded time or call loans, amid allegations of dummy loans and self dealing.
MENTIONED IN THIS ARTICLE
Treasury
DEPAR
Washington Comptroller
The
Riggs National Bank
Wahington
Riggs
National Bank
Biggs National Bank
Snow ‘N Sour
WV. Flaynes
FL A. Gibbons
B. Harrison
4. M
C. ©. Glover
Hank /xamtiner
Caghier
Flatier
Mather
Board of
W. Flather
Mik. Smith
Tly Ass Upan Chat
SolLb
Bank Examiner
Bry
Nevius
Bank Fixaminer
Mr. Nevius
K Ind
Baxaminer I
Thie
Do. Glover
Glover
Washington
W. J. Flather
Fell
American Security and Trust Company
Felt
Flather
H. H. Flather
Higgs
Discount Committee
Treasury Department
C. (. Glover
Tng Wap Ce
Marks and Trust
Nevins
Hane
Fation
Charles
Deliberate effort to wreck Riggs Bank exposed
Comptroller Skelton Williams accuses the Treasury and Secretary of the Treasury of waging war on Riggs National Bank by withdrawing government funds amid a panic, while noting discrimination against Riggs and urging full corrective action and sworn disclosure. The document details prior examinations showing officer and director loans, stock items carried as cash, and calls for reform to restore the bank’s solvency.
MENTIONED IN THIS ARTICLE
Secretary of the Treasury
Riggs National Bank
United States
Treasury Department
War Department
C. C. Glover
Amalgamated Copper
American Corn Company
Byron Richards
E. J. McQuade
Southern Pacific Railroad
Steel Company
Leavenworth
Skelton Williams
Riggs National Bank Defends Rates in Comptroller Inquiry
Riggs National Bank refuses detailed itemized interest reports on officers loans, stating no officer loans exist. The bank asserts all loans paid proper interest and cites multiple examiner reports, listing maximum 4 percent and minimum 4 1-2 percent rates, and defends allegations of “dummy” loans as misinterpretations.
MENTIONED IN THIS ARTICLE
Bank Examiner
Nevius
Mr. Nevius
Wild
Mr. Nevins
W. J. Flather
Riggs National Bank
Inter
A A. M. Nevius
Mr. Glover
Riggs Bank Officers Accused of Diverting Profits
Treasury records reveal Riggs National Bank Washington and National City Bank of New York profited jointly from U S four percent bonds bought from a San Francisco bank in 1907 1908. Transactions show profits credited to joint account with half the proceeds to Riggs in February 1908 while some funds were diverted to personal Glover and Flather accounts.
MENTIONED IN THIS ARTICLE
National Bank Examiner
New York
National City Bank
Y Tar
Riggs National Bank of Weashington
National City Bank of New York
San Francisco National Bank
United States
Riggs National Bank of Washington
Riggs National Bank
Washington, D. C
Crocker National Operations
Riggs Nn
City Bank
Washington
DL C
Washington, T
U. S
Crocker National Bank of
San Francisco
Flather
M. J. Ailes
PHI Riggs National Bank
Washington, DC
Washington TH C
The
City National Bank
Tlegs National
AL FL Atles
National
Yy Bank
T Vises National Bank
Jional Bark
Tugis National Bank
National Cite
Lonus
Rises National Bank
United
Francisco Bank
Bigex National Bank
M. EK. Alles
D. C
Washington, J
N.Y
Rigga National Bank of Washington
Heach Bank
National Lity Bank
Tao
Rigg National Bank
W. J. Flather
Rigze National
Nationality Bank
Rigga National Bank
Glover and Flather
Migga National
Rondo
National Bank Vuadd Aghtittiol Oretousaly
Glover
Ailes
Ate
Ae Hanks
Choew Wathing
Glover Aid
Acenaete
Te Elma
Uehawer
Plather
Mc.Glover
Riggs Nations Bank
W. Zather
Bankaaminer
Waas
Also Mentioned on This Page
Riggs Bank
Comptroller
Tor
Hank Examiner
H. Ti. Plather
B. L. Ness
Jean
Toan Courrs
Wil Flather
American Security & Trust Co
Wo. Plather
Board OF Directors
A. M. Nevius
Jim Teply
Reur Bank
District of Columbia
National Bank Act
Chas. C. Glover
M. E. Ales
WM. d. Flather
WM. H. Dorsey
D.C
Muay
Rour Bank
Dumain
Comptroller of the Currency
Ington, D
A. (. Glover
Stotes American Corn Company
Lover
American Can Company
Or Tor
M. K. Agles
Kier
Weeb
Henry H. UH Ete
Cashes
Joshea Evans. Jr
Wm. H. da
Rotary Public
Wal
Williams
Wrenn
BP. C
W National City Bank
Riggs Jonal Bank
M.ed Ales
Shington, 1
Long
Tyle
Khing
Nevesaar
Clever