Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-12-27
SUSPENDED.
The Maverick Savings Bank Of San
Antonio Closes Its Doors.
The Assets Exceed the Liabilities by
Nearly Million Dollars-Too Many
Irons IL the Fire the Cause.

Special to the Gazette.
SAN ANTONIO, TEX, Dec. 26.-The
doors Of the Maverick savings bank were
closed to-day. A placard announcing
it's suspension met the customers at $3.50
this morning. The institution has come
to an end. 1t met the phenomenal run
of Saturday last with mistaken front.
Every half wild depositor was paid
IN full. The arms Of the clerks
ached with handling the coin. Every
bank in the city came to the rescue.
Private capitalists poured in their
wealth. 1t was in VAIN. On Monday,
Tuesday and Wednesday the run con-
tinued. 1t was quiet, but steady.
Every available resource of the corpora
ton was exhausted on Christmas eve.
The legal holiday Of yesterday gave it
rest, but was
UNABLE TO RESUME
this morning. Heavy New York obliaa-
lions that demanded immediate action
reached here yesterday. The only re-
course of the bank was to shut up since
it could no longer put up. Since Satur-
day morning last nearly quarter of
million in hard cash has been paid
out IL Uuu no mOTo iSlSs IL
assigned in order to protect not the
depositors and other creditors, but Sam
Maverick himself, who saw q vast estate
threatened by the crash. Reyan Hous-
ton was made assignee and the following
schedule was filed:
Liabilities, SS44, l64. 05.
Assets, 81 ,7S9 ,915.36.
LIABILITIES.
OF the liabilities the bills payable foot
up Sl09, 500.
Certificates of deposit, s1s3, o75.97.
Due other banks, S33 ,2S0.54.
ASSETS.
Real estate, 81 .l35, 0G0.
Stocks, etc., SlS4, l20.
Cash on hand, S468O. 80.
Open accounts or overdrafts, $780,
69S.76.
Due from other banks, S13 1914
Notes and accounts, SIG, 1863.
The accounts OF tine Alamo brewery
and the Maverick printing company have
not been included in the list. They are
not large.
The assets exceeded the liabilities by
S945 451 in round numbers.
Mr.. Maverick q accounts and business
as shown in the sworn statement e1-
hibited the fact that he has been in
volved in
VERY MANY BUSINESS CONCERNS
carrying them with many thousands OF
dollars it would seem when no other
finanoier would for safety's sake. None
Of the bank officials could be seen this
morning, but it is understood that al
creditors will be paid III full.
In an interview Mr.. Maverick said:
"The cause of the assignment was q
loo Of To- 70 VIM
had been organized against me since the
one 1 have just successfully met.
Ny real estate will more than suf-
fee, two to one, to pay OF
my liabilities. not to mention my other
securities and resources, but it will take
some time to realize on them and 1 did
not care to sacrifice the interests OF my
friends as well as my own. 1t will have
the effect OF tying up the funds of de-
positors for while, but every dollar is
safe.''
There were some scenes of distress,
but not many. Most of the smaller de-
positors had drawn their savings. The
bank continued to pay them until the
last dollar was exhausted. There has
been no run on any other bank and
BUT LITTLE EXCITEMENT
among the business men of the city. The
payment of dollar for dollar is
considered inevitable.
While MIR. Maverick was presi-
dent of the International fair association
that concern was not connected with
his business in any way, nor will the
suspension in any way effect it.
The assignee says that the entire BUSH
ness will be wound up and every creditor
paid in full inside of six months. The
suspension of the bank 10 not regarded
as failure in the ordinary acceptance of
the term. but simply an exhaustion of
actual cash, which it has been found Inn
possible to secure. Under any other
conditions save the present stringency 1t
would not have occurred.