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Washington Post in Washington, Washington Dc

16 May 1915

Page 2

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Washington Post May 16, 1915 Page 2 old newspaper archives

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This newspaper page contains 3 articles. Subscribers can read the full text of each article.

Newspaper

Washington Post

Location

Washington, Washington Dc, United States of America

Date

May 16, 1915

Page

2

Riggs Suit in Renewed Attack Tangles Panama Canal Debates

The long running Riggs Bank case continues as the Treasury and Comptroller clash over government deposits. Documents reveal policy shifts in 1914 to withdraw funds from Riggs amid allegations of stock brokerage within the bank and heavy loans on stocks and bonds. The secretary cites reasons to redeposit with banks serving commercial needs and to avoid support for speculative activity.

MENTIONED IN THIS ARTICLE

Vanama Canal Panama Canal Idara Tys4 Platnunm Bank Plainig Bank Comptrailer Ita Re Washington Sacradry Riggs Bank Riggs United States Country Central Reserve New York District of Columbia Treasury Department Bank Staelf National Bank Wahahington Comwiudat National Bank Juggs Bank National Bank Act Theleva Treasury Department Federal Reserve System Letty of Washington National City Bank Stock Exchange McAdoo Riggs National Bank
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Comptroller Says Banks Must Be Scrutinized Despite Criticism

The comptroller of the currency explains in relation to the Riggs Bank suit that vigilant enforcement of the law by the Treasury is essential for public confidence and the stability of the banking system. He argues that inspections, though harsh to some, prevent fraud, protect deposits, and support the world’s financial order during crises.

MENTIONED IN THIS ARTICLE

Treasury Riggs Bank Treasury Department Department Pubic Health Department Secretary of the Treasury Department of Justice Williams Willams McAdoo Riggs Afpiceres
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Bank commissions and ownership dispute cited in 1914 letters

A June 1914 letter from the bank president denies personal profit from commissions and denies ownership claims to funds tied to the Flather accounts. The comptroller notes conflicting statements by W J Flather and H H Flather to the bank examiner, and asserts that commissions and property should belong to the bank. The document describes methods of stock brokerage and real estate lending using bank funds, with loans handled as internal discounts and funds recycled through the bank. CONTINUED ON ELEVENTH PAGE.

MENTIONED IN THIS ARTICLE

Plaintiff Bank Glover Nir National ‘Bank Plaintiff Atock Treasury Department Washington, D. C Charles ©. Glover Milton E. Ailes Plaints Bank A Ee Riggs Bank Flather Williams Examiner Trimble District of Columbia Messrs. Flather & Flather W. J. Flather Comptroller Glover & Flather Flather &Flather H. H. Flather Grover & Flather
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Also Mentioned on This Page

Macun Nativist City Bank the Treasury Alles W. G. McAdoo T. W. Gregory America Eiseman’s Corner 7Th & E Sts Eiseman & CO 7Th and E Streets Associated Drug Stores Baltimore bottes—Lilly & Co E. Z Hoff BBC Osaka Babcock Barbers End Chain Tse Sloan’s Liniment The National Castile 7Th G Streets N.W Associated Howard Franklin Park Ave Lexington Charles EUTAW Saratog Colgate Woodbury Lyon Stour Tobacco Depts
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