The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-11-07
Maverick Bank Failure Not So
Serious as Reported.
DISHONESTY OF THE DIRECTORS.
They Loaned Money to Themselves on
Notes Fictitiously Signed.
Runs on Two other Bo oston Institutions
Continue-Bank OF Florence, Ala,
Closed-Run on q Galveston Bank
Failure OF Dealers in Wines.

BosTON, Nov. 6.-Comptroller Of the
Currency Lacey, who arrived from WASH
ington City this morning, spent nearly the
entire day at the Maverick bank. In an
interview this evening he said 1.-THE feel
ing all along the line and among the menu
bers of the Boston clearinghouse is that
the affairs of the Maverick bank are in
much better condition than is apparently
generally supposed. A leading financier
of Boston told me today that he thought
the Indebtedness of the bank would be re-
deemed at par. Not one gentleman in a
position to know about its affairs admits
that it will not pay 80 per cent" Lacey
further said:
want it distinctly understood that there is
not and never has been a single POI at issue
between Mr.. Magruder and myself. it is true
that he furnished me complete photograph Of
the condition of the bank. Everything he fur
nished me with is on flo In black and white, so
1t is not a question of my veracity I knew of
the Endorsements OF directors, but they
always represented as being drawn on adequate
collateral. can say nothing about the crimin-
ality of the acts OF directors, and the news
papers should not expect me to do so.
Jonas II. French was brought before
Judge Nelson today on writ of habeas
corpus. on his plea for a reduction of bail.
lIt dtubuuI WAS iONeTei ID f,O.UDD. us
trict Attorney Allen said he had received
n statement from Examiner Ever that
Potter, French and Dana owed the Maver-
lex bank over S2.0O0.00O lie further stated
that the examiner said that among the as
sets of the bank he found notes endorsed
by three of the accused directors, the prom
issors of w which could not be found, and who
he believed did not exist. The bank ex-
aminer has turned over to the assistant
United States treasurer 81, ,139, 800 for the
benefit of the creditors of the Maverick
National bank Thomas p Beal's bond as
receiver of the Maverick National bank
has been approved by the court. The
assets of the bank cannot be handed over
to him by the examiner until an inventory
has been made of them by the examiner.
This will require a delay of several days.
Charles Raymond, of Chicago, brother
of William Raymond, of Thomas Dana &c
Co., will, it is said, put $4,000 into the
new firm, and all the merchandise liabili-
ties will be assumed.
The run on the Five Cent Savings bank
continues this morning, but it is in q
lessened degree. President Evans says
the run is about over. Some who with
drew have today returned to deposit again.
Less than per cent. of the deposits were
withdrawn on the heaviest day Of the run.
A run is being made on De Filippe's
Italian bank. The concern had some
money deposited in the Maverick bank.
but it is perfectly solvent.
GALVESTON, Nov. 6.-The fact that Albert
Weiss of Weiss Bros, who failed yester-
day. was president of the Island Savings
bank caused a run on that institution to-
day by small depositors. The directors
held a meeting and issued bulletin per-
sonally guaranteeing every dollar of the
deposits and declaring the bank perfectly
solvent. Confidence is entirely restored
tonight.
LOUISVILLE, KY, Nov. 6.-The Coch-
rane-Fulton Company, distillers and
wholesale liquor dealers, made an assign
ment today to the Louisville Trust Conn
pany. The liabilities and assets are not
learned, but are supposed to be about
equal and to reach nearly 100000. The
firm is one of the oldest and has been re-
garded as one of the staunchest here. The
failure was brought about by the recent
failure of Jacob Kreiger, the Masons Saw
ings bank and the t. r. b. Cotter Lum-
ber Company. The friends of the COM
pany assert that they may be able TO pay
in full.
FLORENCE, Ala, Nov. 6.-The Bank Of
Florence failed this morning to open its
doors. The officers refuse to make q
statement of the assets, and the liabilities
cannot be ascertained.