Pawtucket tribune. (Pawtucket, R.I.) 1890-189?, 1891-11-10
Comptroller Lacey's Opinions.

Comptroller Lacey expressed the opinion
that the institution would be able to de-
clare dividend Of at least s. per cent. and
possibly more. Gas investigation pro-
ceeds," he said, there is a more cheerful
feeling as to the assets of the bank, and
the judgment Of those best Informed is
that larger dividends may be realized than
was at first anticipated. IL is gratifying
to me to learn that public confidence has
been wholly unshaken as to the solvency
Of the other Boston banks. In my opinion
this confidence is we'll founded, for know
of no bank which is not fully entitled to it.
"The fact that the associated banks have
unanimously offered to advance sums to
the depositors which may aggregate sew
eral millions of dollars, in addition to
meeting all the proper demands Of their
own customers, is evidence that tho banks
in this city are unusually we'll prepared
for any emergency which may arise. 1t is
also matter Of congratulation that inte-
rior banks, so far as has been now ascer-
tanned. are not embarrassed by the tempo
rary locking up of the funds by the failure.
The settlement of affairs will proceed with
the utmost despatch and both myself and
the receiver agree that
A Dividend Shall be Declared
at the earliest practicable moment; and IL
Is to be hoped that every creditor of the
bank will promptly present his claim for
allowance, in order that dividend may
not be delayed for want Of promptness on
the part of claimants in making their
proofs.
at is evidence of an unusually healthy
state OF financial affairs generally when so
important a failure can occur with so lit
tie effect in disturbing public confidence,
and without interfering with the facilities
granted by banks TO their legitimate GUS
toners"
1t is said that there are several Boston
capitalists who are discussing the feast
bility of re-opening the Maverick bank
under new name. They cite the fact that
the location is an excellent one, that the
rooms are commodious. and that the facil-
tiles for doing "A large business are hard to
be surpassed. Mr.. Potter expresses the
opinion that any syndicate with capital
could take hold Of the plant and make
money.
Mr.. Lacey yindicated.
Secretary Foster denies that he has ever
disapproved of the action of Comptroller
Lacey in connection with the Maverick
National bank or criticized Mr. Lacey's
speaking Of his own suggestion that an
other examination of the bank be made
when he was informed that Potter had
borrowed over million OF its funds: IL
think the comptroller was very prudent in
his suggestion that an examination made
30 soon after the preceding one would ex-
cite comment to the injury Of the bank;
aud, besides, the bank examiner was sick.
OF course did not examine the report of
the examiner. but took the truth Of it for
granted and have no doubt that every
statement made to me by Comptroller
Lacey was absolutely true.
"The examiner, II appeared, was Of the
opinion that the bank was solvent. aud
that In due time the irregularities would
be properly adjusted. That is exactly
what was said, as remember. There was
no suggestion on the part Of the examiner
that the bank was insolvent or that he had
any serious question as TO its solvcncy.
That is my memory OF the statement Of
the report OF Examiner Magruder."