The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1891-11-03
In LIMBO.
Potter and Two Of the Maverick
Directors Arrested.
They Are Accused Of Embszzling a
Total Of S2,4OO,OOO.
"AefVy" Evans Said to Have Died
to Save His Friend.

BOSTON, mass, November 2.-Asa Z. Pot
ter, president, and Col Jonas FL. French and
Thomas Dana. directors of the Maverick
National Bank, were arrested by United
States marshals tonight. 1t is understood
the warrants charge embezzlement and mis-
appropriation of the funds of the bank. 1t
is understood the amounts involved are ST.
100000. in the case Of Potter; 100000 in
that of French, and $500. 900 in that of Dana.
Dana was the only one who attempted to se-
cure bail tonight. He furnished sureties of
$4,000, the names of his bondsmen being
withheld. Potter's bail was placed at $780,
600 and French's at 100000. The two latter
remain in their residences tonight In charge
of deputy marshals. They will come before
Commissioner Hallet tomorrow morning.
1t was reported today that the Boston G.
Maine railroad had $4,000 on deposit at the
Maverick bank to cover the November divi-
dend. General Manager Furber this after
noon stated the road had but $4O0, 900 in the
bank at the time Of the suspension.
The Boston News Bureau prints an item
to the effect that friends of Irving A. Evans
declare that he killed himself to save Mr..
Potter and the bank; that he was worth
$S00,000 a year ago, and gave all that and
more to save his friend; that he kited checks
between New York and Boston, and had
enormous arbitrage transactions in both ex-
changes to make clearings between the two
cities and assist the Maverick bank to meet
one draft with another; that when the strain
could no longer be borne, he overdrew his
account at the bank to make his own clients
individually square and destroyed all evil
dences duplicating any other parties, and
that his dying words to his wife we're:
Don't blame Asa"
,. The Bureau eau ;;. also says Upon Mr.. Evans,s
Mr.. Evans termed the "big account" is $780,
900 under water. There Is no evidence, out
side Of one living man, we believe, that
shows that Mr.. Potter was partner upon
this joint account, but 1t Is assumed by the
bookkeeper and Mr.. Evans's partner that
the account belonged to Mr.. Evans and Mr..
Potter jointly, although Mr.. Potter's name
Is not on the book and Mr. Evans, in his last
letters, denied 1t explicitly. Within year,
Mr.. Evans stated that Mr.. Potter had no
joint account and no transactions with him.
Mr.. Potter declares that for eighteen months
he received no checks from Mr. Evans nor
had any personal account with him. All
Mr.. Evans's great speculations in
the past eighteen months have been con-
Quoted In the name of this joint account aud
1t Is declared by some people that the Nav
erick Bank surplus was really a partner on
this account Before Mr.. Evans shot
himself his family understood that
Maverick Bank 5000, 1000. with $500, 600 nomi-
nal collateral, and it was a settlement with
the bank his brother arranged the day before
the suicide. 1t was represented to the bank
that the House was only 5000 under water
A few days after Mrs Evans's death, the
bank directors voted to release Irving A.
Evans & Co. fsom all liabilities, amounting
to about $6oAp0Qs The directors were as.
sured thats whh the loss taken. the bank
shares were still worth $3.50. The collateral
was worth but little more than $IOO 900, and
the loss taken by the bank upon this ae-
count was about $500,000. Ii the bank
was otherwise good, this loss should
have reduced the surplus only by 80 per
cent. Mr.. Potter says at the time Of this
settlement, he was offered release for any
personal liability he might have with Irving
A. Evans % Co., and lie declined ii, itcl ir-
ing that no such liability existed. her had
Mr.. Evans any account upon wnlch he Was
legally or morally Responsible. Mr. rubey,
junior partner of Evans, admits that he new
er sent statement to Mr.. Potter Of the ac-
count upon which he believes Mr.. Potter is
LIABLE"
Col. Albert A. Pope said last week that he
had no evidence that Mr.. Potter was resp0n.
sible for Mr.. Evans's suicide, but he be-
lleved it and II the evidence was good, the
Joint account would be collected If 1t took
the roof off some institution. Asa p. Potter
was worth S750,0OO clear few years ago.
His wife has small fortune in the COM
monwealth avenue and Jerusalem road resi-
dences.
"A meeting of the B3sl.a Association nt
National Banks today va.sd 30 ady auce
money to relieve the necessities of the
Mavericks depositors. The Maverick Bank
was expelled from the association.
President Potter has made an assignment
of his individual estate to Postmaster
Thomas N. Hart and Henry ID. Hyde.
Asa P. Potter, in early youth. was en-
ployed as clerk In the Bank of the Me-
tropolis on State street, but he threw up his
position soon after to go to New York. One
year OF Wall street proved sufficient, and,
having lost pretty nearly all of his money
there, he returned to this city and entered
the Maverick Bank, of which he subse-
quently became vice-president. Byyoung
P0tter's advice the bank invested in $780,.
100000 worth of United States bonds, at a
time when the credit of this country was not
quite so good as it is just now. The bonds
rose In value and the profits were very large.
When Nehemiah Gibson died, two years ago,
Mr.. Potter became president Of the Maverick