New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-11-03
officers OF the corporation 20 carry IL throus" ''
complication without interference.
The Clearing House Association this morning ahop'ea
the following

The Clearing House Association this morning adopted
the following:
Voted. That 1t Is the judgmsnt Of the Clearing S Ose
that all OF the banks constituting the ASSOCIATION snou'
at once combine to relieve the necessities OF me & ae
poso Of the Maverick National Bank by making 1ns
money to such depostors upon the security OF tle
assignment Of their claims against said Maverick
aVoted that committee Of ten Representatives 3i
banks be appointed b Sy oTeroar s voe to arrange on
behalf OF the association all terms and details 10 ine
premises and call upon the banks OF the ASSOCIATION
Tor such sums OF money may be necessary. provided
that the banks shall contribute In the proportion Oh tner
average loans reported TO the Clearing House Tor tho
month OF April, 1eOl'
Colonel Jonas H. French, who after President Potter
was the heaviest stockhoder in the bank viii prob
ably lose everything Colonel French has long been
prominent figure in Boston lie Is TALL comhaiu-
ing figure and for many years has been conspicuous
I'm the Massachusetts, Democracy He has an honoraoie
war record and soon after the closing Of the Rebellion
he orc,nized the Cape Ann Grant, Company, OF WHICH
he Is president and the operations of which are more
extensive than any sliilai 'ono'i" "
America His granite company furnished the granite
for numerous public buildings and monuments ho'aoiS
the BOSTON Postofce and subTreasury building Bai'l
more Pestoftce the bases OF the Scott Monument
Washington D. C., the spandre walls OF tile brooHiSh
prdce and the new Court House in Boston. He was
,hroo years presdent of the Louisville Evansvile ana
St Louis Railroad and ten years director IN oio
New. York and New England Railroad lie mas peen d
director in the West End Land Company since 1851
and has been since 1878 director OF INC ""'o'i'A
National Bank lie Is Mason
| John j. Eddy, the present cashier OF the Nahoha
Exchange Rank was for five years In the same once
at the Maverick Bank. and left the latter IN 1891
MANY stories have been told as to his reasons TOT N
signing so lucrative post as he heid a' Cno
Maverick Mr. Eddy gave his reasons In THESE "orus
| 81 could not occupy the place OF cashier vi ,ui~
Maverick Rank and sanction the gigantic speculations
/ tonf /
| copnzant of them, and | LIVED on in hopes that the
repeoted gains and losses incurred by him might teach
| him caution Bnt he loved speculation for us own
ac and his Operatons grew rather than lessened You
| could no moro him from speculation tah Sou
| could the drunkard from the wine cup"
as it true. Mr.. Eddy that you were ever oaied
upon to prepare or to false statements OF tns
| banks condition.
"No / never was. Mr.. Potter was strangely L"
different to the socaed state of the bank Ills nina
was entirely given up to speculative operations "en
| | announced my determination to leaVe She Ma'0'"
he asked il was not hasty. resigning SO lucrative
| A. place told him that preferred smaller salary
! and easy conscience .
Mr. Eddy's annual salary cashier of the Maveflch
| Bank $3.50.
| 4 letter from Irving A. Evans to President Potter
has been shown dated August 30 in which Mr. Evans
wrote that Should any complications arise ne "sneo
| Ia declare that Mr. Potter In no way espo's sble
for hi, business and had no interest in any accounts
| at the house Of Irving A. Evans e. co. He further
declared that Mr. Potter had been good, KIND frend
70 him. and that against Mr. Poters wishes ana ADVICE
he had been upon the stock market for the sst
| year and had lost heavily. but 1t had been his o"
| fault. and no one else to blame. and he aske'
! Mr. Poters forgiveness and bade him gooh-by. Ink
WAS delivered to Mr. Potter from Mr. Evans's Office on
October 49, three days after Mr.. Evans's suicide;
The general condition Of he no canfs nI @S
| 100000 surplus; $3.50 900 undivided profts-an
gone no ono one Tns ,s to m all To % s
losses the bank has three creditors Asa P3teF, ,sNr wo
Who owes It more than 100000 there Is an unpaid
loan to Irving Evans of S4oo'ooo' Thomas Dana owes
indHgent creditors and accommodating United states
| bank officials gave the bank two weeks IN when 70
r Potter ee who %a Known to have carried it through
so many tight places. would be equal 70 the occasion
ronrh the Clearing House within week the srea
O 200 0oo but at that point ne b stopped no
| use to extend the time further, and so they tooH
An Investigation discioses the fact that Mr. Potters
property COhasset stands IN his oWn name ana Is
free from all membranes 1t is estimated that 1.-THE the
that at forced sale it would realize more than thlid
of that The purchasers are relatively few VINO
mmTweath.ave. property stands in the name Of Mrs
Potter. The property Is desirable and valuable bIt,
81 potep fcFie has 'e heavy life nsnce the aggregate
amount OF which is said to be in the neghborhood ot
creditoys so that whatever financial misfortune be
falls Mr.. Potter personally his family n VIII be well eIi
horses and his pictures 1t is not known that Mr. Potter
has any property in addition to his investments II, IN
Teaiae it is too early to predict. In fact there has
been no information yet disclosed to indicate what the
volume character and probable value OF theSe Secufi
The doors of the Maverick Bank bore two notices
this morning. One read "ClOSed by order OF National
| Rank Examiner Ever Immediately beneath was the
following: Notes due at this bank today will be
stood on he seps the Water and Congress ss ell
trance but had little TO do there was no excitement
and but few people seeking entrance 10 'nc banking
Lewis Lombard. second vice-president and Eastern
manager of the Lombard Investmel Com any said that
the deposit of the company in the Maverick Bank
mmateria and that the concern would not be affected
by the suspension Of the bank. except so far as to
cause a little temporary Inconvenience in the matter
OF keeping accounts. All customers who held checks
ceive checks on other banks in which the Lombard
Company has deposits. several such checks were
presented this morning. and redeemed:
Arrangements were soon made that checks against
depositors in the Maverick National Pank would still
be honored at some convenient bank. Checks drawn
by the Brockton National Bank will he paid by the
Third Ma oal Bank by the First psS National pa , hank aS @
renee National Bank and First National Bank Of Ben
nington, Vt, at the National Eank Of the Common
ton and Srsford National Bank Of Dover. n. H.. at
the Exchange by the Central National Bank Of Lynn
and OF the Maine Trust Company, FaTmngt0n, Me, az
the National Hide and Leather Bank by the Nstona,
Bank; BY the Howard National Bank, burlington, w.
at the National Hide and Lea her BANK by the WIN
nisimmet National Bank, at the National Exchange
Bank and by the National City Bank Of Cambridge, ut
/ the Third Ma iOnal Bank
Every bank represented at the Clearing House
| this morning when the resolutions cOndemning the
! Maverick Bank voted. The Clearing House
Committee. consisting OF Thomas p. Beal, Franklin
Hahn ir A. l.. Newman. Phneas Pierce and Moses
Williams, and y. .Ndrtch. !: T. Burr, John Carr
| j. b. Case, C. 4. Niad and George Ripley. were ap-
pointd a committee carry the resolutions into
effect II voted that the Maverick National Bank
he expelled from the Association. The formal papers
were drafted and sent out for bank signatures i'm
medately. -. :,
Colonel John II. French faid this morning that he
fully believes that II the affairs OF the Maverick Ma
t,onal Bank are managed with wisdom and prudence
by the receiver stockholders and depositorS Will get
back all the money thcy have ntusted TO the banks
care Colonel French is preparing to make an assign
ment of all his property to Henry ID. Hyde and VI. F.
Dickinson