St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-11-03
Maverick Bank Officers Are
Arrested on Charges of
ENLIGHTENMENT.
They Had Loaned Over Two
Million in Direct Violation
of Law.
Surplus, Undivided Profits and
Capital Stock All Went in
the Smash.
Irving A. Evans Suicided to
Save President Potter and
the Bank.


were made on charges of ''embezzle-
ment and misrepresentation of funds of
the Maverick National bank" AL
though the sums mentioned in the war
rants are nominal, it is understood
that the amounts involved will
reach S1,500,0OO in the case of Potter,
100000 IN that OF French, and $500. 900
in that of Dana. The arrests in this
city were made quite late tonight,
and Mr.. Dana was the only one
Ha was brought before United
States Commissioner Hallett and
furnished Suretles in the sum of S75, 900,
but the names of his bOndsmen are
withheld. In Mr.. POtter'S case bail
was placed at S150,000 and that of Mr.
French at 100000. The two latter re-
main in their respective residences to-
night in charge of deputy marshals and
will come before Commissioner Hallett
tomorrow.
1t was learned to-day that the Boston
IL Maine road had 100000 on deposit at
the Maverick bank to cover the NOvem-
Der dividend. General Manager Dur
Der this afternoon denied that the
amount would reach this figure. but
stated that the road had 100000 in the
bank at the time of its suspension.
by law the promlSSOrs OF a national
bank are allowed to borrow 10 per cent
OF the capital stock OF the institution on
the same collateral. In this case
it is said that Asa P. Potter
owes Sl,3O0,OOO. Jonas H. French
SSOO,OO0 and Thomas Dana $500, 900, or a
total of 81, 100000. although under the
law only $4,000 could be properly
loaned to any one person. About s., 900
N mi
with the bank, but the bulk of the fund
is securely locked up in the city treas
urer'S safety vaults. In the Maverick
was also the John Boyle O'Reilly fund,
amounting to some $1,000
A Martyr to Friendship.
The Boston news bureau prints the
following: The friends of Irving A.
Evans declare that he offered his life as
a tribute to Friendships; that he was
worth $500, 900 one year ago, and gave
all that and more to save his friends:
that he kited checks between New York
and Boston; had an enormous arbitrage
transaction to make clearings between
the two cities and assist the Maverick
National bank to meet draft with an
other; that when this strain could no
longer be borne he Overdrew his ac-
count at the bank to make his own eli
evidences duplicating any other parties,
and, declining to return to the city to
effect settlement upon his own ac-
count at the bank, put himself out of
this world to save Mr.. Potter and the
bank.
Mr.. Evans pistol shots, though thew
missed his own heart, went straight
through the bank. His dying words to
his wife were: Don't blame Asa"
When his body was cold, his hand was
found bare of the handsome gold ring
which he had worn for long time, and
which was gift from Potter He
had taken it off the day previously,
and, throwing it in his hand bag,
remarked TO his aunt: "ThiS means
nothing to me now, for have no longer
any friends" Upon Mr.. Evans books
are five joint accounts. Joint Account
No. is what Mr.. Evans termed to his
associates and confidential friends 1.-The
big account" 1t is this account that IS
100000 Under Water.
There is no evidence outside of one
living man, we believe. that shows Mr..
Potter was the partner upon this Joint
account. 1t has been assumed by the
bOOkkeeper and Mr.. Evans partners
that this account belonged to Mr.. Evans
and Mr.. Potter Jointly; but Mr.. Potter'S
name is not upon the books. and Mr..
Evans in his last letters denied it eX-
plicity. To different individuals within
a year, Mr.. Evans has said, in course of
conversation, that Mr.. Potter had no
Joint account and no transactions with
him.
Mr.. Potter has been paid about $780,
900 as profits of joint speculation with
Mr.. Evans in various checks, but Mr..
Potter declares that he has received no
checks from Mr.. Evans for over eight
cen months, nor has he during this time
had any personal account with Mr.. Ev-
ans. All Of Evans great speculations
In the past eighteen months have, how
ever been conducted in the name of
this Joint account and it is declared by
some people that the Maverick National
bank surplus was in reality the partner
in this joint account.
Col. Albert a. Pope said last week
that he had no evidence that MIR. Potter
was responsible for Mr.. Evans suicide,
buthe believed it,and if the evidence was
good. the joint account would be col
lected If it took the roof off some insti-
tuition. Asa Z. Potter was worth $780,
OO0 clean and clear few years ago.
Mr.. Potter says that at the time of
this settlement he was offered a release
for any personal liability he might have
"a.
Co, and he declined it because he de-
clared no such liability existed. nor had
Mr.. Evans any account upon which he
was legally or morally responsible. Mr..
Tobey, the junior partner of Irving A.
Evans d Co., admits that he has never
sent a statement to Mr.. Potter of the
account upon which he believes Mr..
Potter was liable.
Before Mr.. Evans shot himself, his
family understood that he was insol-
vent and that he owed the Maverick
bank 100000. with 100000 nominal
collateral, and it was settlement with
the bank that his brother had arranged
the day before the fatal Oct. Is. Irving
A. Evans was to have come down that
day to finish the settlement with
the bank. 1t was represented to
the bank that the house was
only S350,000 under water. for if
the bank would take the collateral and
sign release to the house, Mr.. Evans
father and brother would make that
S35, 900 good to the house and liQuidate
the creditors Oh the basis of 100 cents on
a dollar.
Half Million Dropped
This settlement was executed a few
days after Mr.. Evans cath, aud the
bank directors voted to release Irving A.
Evans Il Co. from ali liability, amount
ing to 100000. 1t is probable that
the directors did not know the
amount of the liability they werelwriting
off, for they We're assured that with the
loss taken the bank shares would still
be worth $50. As the collateral is worth
but little more than 100000. the loss
taken by the bank upon this account is
about 100000 but if they were other
wise good this loss should have only re-
duced the surplus by 50 per cent.
Two Millions Lost
The doors of the bank bore two no
tees this morning. One read: 'Closed
by order of National Bank Examiner
Ever" Immediately beneath was the
following. ssNnfaC duo Ut fhi. I,n.,i- q.