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Corcoran and Riggs partnership documents

 Collection
Identifier: MS2221

Collection Scope and Content

The collection consists of two documents related to the history of Corcoran and Riggs a predecessor of Riggs Bank. These documents include an April 14, 1840 memorandum of co-partnership between William Corcoran and George W. Riggs. The letter, which does not have a recipient, is dated June 16, 1848 is dissolution of the firm of Corcoran and Riggs as run by William Corcoran and George W. Riggs and the creation of firm Corcoran and Riggs run by William W. Corcoran and Elisha Riggs Jr.

Page Riggs Bradley and Murray Lee Bradley donated these items in 2007.

Dates

  • 1840-1848

Restrictions on Access

Some records may be restricted.

Restrictions on Use

Some material may be copyrighted or restricted. It is the patron's obligation to determine and satisfy copyright or other case restrictions when publishing or otherwise distributing materials found in the collections.

Historical or Biographical Note

The earliest incarnation of Riggs Bank was formed in 1836 when William Wilson Corcoran opened a small brokerage house. In 1840, Corcoran and George Washington Riggs, the son of a neighbor, formed "Corcoran and Riggs", which offered checking and depositing services. The bank got a major boost in 1844, when The U.S. government assigned Corcoran and Riggs to be the only federal depository in Washington. In 1854 Corcoran retired, and the bank changed its name to "Riggs & Co." After accepting a government charter, "Riggs National Bank" was born in 1896. By 1900, Riggs was twice as large as any other bank in D.C. It embarked on a successful project to become known as the bank of embassies and diplomats, and by 1950 most embassies in Washington were customers. Many branches thereafter opened within embassies in Washington D.C. and London. Riggs Bank was bought by PNC for $779 million in 2005.

Extent

0.25 Linear Feet

Language

English

Abstract

The collection consists of two documents related to the history of Corcoran and Riggs a predecessor of Riggs Bank. These documents are dated from 1840-48.

Acquisition Information

These items were donated by Page Riggs Bradley and Murray Lee Bradley in 2007.

Source

Title
Guide to the Corcoran and Riggs partnership documents, 1840-1848
Status
Completed
Author
Special Collections Research Center, The George Washington University
Date
2007
Language of description
English
Script of description
Latin
Language of description note
Finding aid written in English

Repository Details

Part of the Special Collections Research Center, The George Washington University Repository

Contact:
2130 H Street NW
Washington 20052 United States of America