The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-11-28
4 MAVERICK MOGUL.
How a High. Rolling President
Broke the Bank.
The Magnificent City Mansion and Summer
Castle of President Potter-His Law
ish Expenditures

1t is presumed that Asa P. Potter. who
owes the Maverick National Bank of Bos-
ton something less than $4,000 900, which
he borrowed while its President, and Mrs.
Potter will not shine SO brilliantly in soci-
ETY. this winter as formerly, for society
paper has just printed the following note:
Asa Potter has hired a 5000 house at
Brookine"
The chronicler did not state what will be-
come OF the almost new 81. 000, 600 palace on
the Back Bay, the Mecca OF fashion in Bos-
ton. The town house" was placed in the
name of Mrs. Potter long before the public
or Mr.. Potter himself suspected that the
Maverick Bank would some day go under.
The personal history and the personality
of Asa P. Potter. one of the wreckers of the
largest banking institutions in New En-
gland, is unique and Interesting. II is made
up of series of events somewhat startling.
One expects to find bank president slow
moving. conservative. calm and modest
man. Mr.. Potter had but one of these
calmness. He had grown from force of will
and by daring and literal hard work from
an office boy to position where he was
looked upon as a foremost man in the rank
OF finance. He coupled with his energy and
enterprise a reckless disregard for moral
and other laws, and while beyond question
waded waist deep into risky schemes, drag
ging his bank in with him, and always IN
I'll the last attempt either receding or going
on with safety
A LITTLE TOO sANGUINE.
Asa Potter is and has been an honest
man. so far as intending to rob the creditors
q the Maverick Bank OF 20 to % per cent
was concerned. He says that If the Bank
Examiner and other officials had let him
alone the bank could and would have paid
100 cents to all, for he would have resigned
and another president could easily, in few
years, have made good the deficit from the
legitimate earnings of the bank, which were
50 enormous that u per cent dividends were
the rule and surplus of Sl.200,000 on a cap
ital of 100000 had been piled up in few
years.
HIS ambition it is that has ruined Asa
Potter and the Maverick Bank. One fea-
ture of this ambition was to build bank
that would eclipse In volume and scope of
business any other in the country. In his
own w0rdS-they are characteristic:
am DESTROYS of having a banking Institution
where every possible phase OF m0neyed busl.
ness can be done, and mean 10 have it. Also,
have au ambition to be the foremost man in that
line Of business in the country; and for these
ends and such result shall work while the
power TO do so lies in me.
Another feature OF the spirit that has
wrecked him was a desire to be a more
lavish man with money than his fellows
he wanted money only to spend il. He
built the most beautiful summer residence
on the south shore; he built town house"
that Cutwardly and inside has only one supe-
rior in Boston; he bought wine for women
and men by the carload, almost; he made
lbs wife and children the best dressed in the
city; he acquired stable that would break
racing track.
Energy personified, bold to a point of
Tecklessness, always cool and collected Cap
able Of extreme hard work, persevering, the
career OF Mr.. Potter has indeed been brill
liant
HIS SUMMER VILLA, JERUSALEM.
His summer home WAS on the Jerusalem
road, Cohasset, a summer villa that is pal
ace. so shaded by trees that a photographer
cannot take fair picture of it, and here il
is that Asa p. Potter, his wife and his six
children spent the hot months, and where
they will not spend any more, not at least
until Mr.. Potter has built up another Nav
erlck Bank. jerusalem road is not very far
III miles from Nantasket Beach, place that
j. As noisy and berry and disreputaDle as is
Coney Island in New York Harbor, but to
average humanity il is like beautiful star,
always good ways OF for none but the
true aristocrals ever venture upon its beau
tiiul maeadam bed. 1t is beautiful place
however. SO full Of trees and vines and little
Uooks and patches Of green that it ought to