Name William Trenholm | Died 1901 | |
William L. Trenholm was a United States Comptroller of the Currency from 1886 to 1889. In 1898, Trenholm (then president of the American Surety Company) was elected president of the North American Trust Company.
Biography
Comptroller of the Currency from 1886 to 1889, Trenholm, a Confederate Army veteran, was the first Democrat and first Southerner to be appointed Comptroller. Appointed to office by President Grover Cleveland, he was known for the large number of changes he recommended in the banking laws. Some, such as the provision that banks could change name and location without an act of Congress, were adopted. Other recommendations influenced later legislation, including the Federal Reserve Act of 1913. Trenholm resigned to become president of a large insurance company and later served as president of a trust company.
On January 19, 1898, Trenholm (then president of the American Surety Company) was elected president of the North American Trust Company. In 1899, Trenholm desired to be "free of business cares" and retire, and an election was held for a new president at 100 Broadway. On May 26, 1899, Alvah Trowbridge was elected as the new president of the company, succeeding Trenholm.