Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-11-02
THE BOSTON FAILURE
kxpelling the Maverick Bank From
the Clearing House.
MORE TENNESSEE COEVICS FREED
Quiet Has Been Restored TO
BriceviIIe.
RUSSIA'S GRAIN PROHIBITION,
RUSSIA's GRAIN PROHIBITION.
BosroN's RIG raurrEE-
Expulsion of the Maverick Bank by ths
Clearing House.

Expulsion Of the Maverick Bank by ths
Clearing House.
BosroS. Nov. AT a meeting Of the Bostos
national banks NJ the clearing house TIA.
morning the following resolutions we're unani-
mously adopted:
'Noted-That II Is the Judgment Of the clear
ing house that all OF the banks constituting the
association should At once combine 80 relieve
the necessities Of the dcpositors of tho Maver-
iek National Bank by making the written Rgres-
ment among themselves 30 advance money W
such dcpositors upon she security Of the assign
niont OF their claims against said Maverick Ne
tonal Rank,
'Noied-Ihat a committee Of ten represen-
tatiSes of banks be appointed by the chair
VINO shaH have tuli power 20 execute the fore
gong vote, 60 arrange. on behalf Of the associ-
auon, all terms aud debts in the premises and
to call upon the banks of the association for
such sums Of money NAV be necessary pro-
Nlded that the banks shall contribute IN the
proportion Of their average loans NJ reported
10 the clearing house for the month OF April
1881"
Livery bank was represented at the CLEARING
mouse thls morning when the resolutions con-
cetuing the Maverick Bank were unanimously
adopted The cluarlng house committed CON.
sishnS ci Messrs II D. A. Beal- Franklin
raven, 1r., \ l. Newman. ihiucas Pierce and
Moses Williams anI the following named: :. "
AlGrlch. l. l. Burr. John Carr. ]. H. Case. q
A. Nialie and Geo Ripley were appointed q
committee to carry the resolutions into effect
IL was voted ;hat the Maverick National i,ank
be expelled from the association. The formal
papers viii be drafted and sent out for bank
signatures immediately.
The decision OF the Maverick national banl
today 40 close lts doors was reached after a pro-
tr@cted conference OF the clearing house COM
bllitee oil Boston national banks yesterday
morning IL Is stated positively that the fail
ure Will not entail any widespread financial loss
1he immediate cause OF the banks suspension
was the suicide of Irving Evans. The loss
caused The bank by its dealings with Evans
was not large enough to seriously injure IT, be
ing not more than eco. .0Jo. but the talk OF tine
street made the bank = loss lar more.
by the last sworn stntemen, of the bank is
sued September 30 last. IL was shown that the
assets Of the bank included the capital of
1900, the surplus Of ssOO. 600 and undivided
proii,s of q little more than S200. 900.
IL as claimed that the clearing house COM
mlttee threw out all assets which they consid-
cred worthless and deducted 20 Ier cent
from the other securities and declared the
capital surplus and undivided profits we're
wiped out and that what was left
Nla fall short Of meeting the liza
biAties. This would indicate that
the creditors might expect a dividend OF 20
cents on the dollar. The bank will be put in
the hands Of receiver. Ii Is chained that in
good hands the depositors will receive dollar
Tor dollar. The appointment of a receiver will
come from Washington.
President Cotter has made an assignment OF
hls individual estate 20 Postmaster Thomas n.
bart and Henry ID. Hyde.