The sun. [volume] (New York [N.Y.]) 1833-1916, 1891-11-02
NEW FORK BANKS NOT AEFsc1ED.
The News May Eaboiaen sears In Stocks
FOE . LATHE while.

NEW PORK BANKS NOT AFFECTED.
The News May E-so,ser Hear, 4, Stacks
For . LATHE While.
The suspension Of the Maverick bank did not
cause much surprise among bankers in this
city. 1t has been talked about for a week a. .
coming event. and II any Of the banks herc has
been involved they had had chance to pro.
tect themselves. President H. W. Cannon Of
the Chase National said;
MY opinion is that Il will be found that the
assets Of the bank will moro than Offset
the liabilities. The principal business Of
the bank came from New England and
the city OF Boston. and see no res
son why the stoppaeo should materially
affect matters In this city. I conclude the fall
ure has been caused by the relations Of the
bank with Mr.. Evans. who recently shot him.
self. Banks OF this city are all exceptionally
strong for this season OF the year. or for any
other season for that matter. There Is no
reason why they cannot furnish their
customers and depositors any money
needed and do not see how the failure can
affect the banks or the loan market In this
city. Very likely the shock to credit In Boston
and Now England may temporarily affect the
stock market There is no reason why securi.
ties should 90 lower because Of the failure"
Mr.. Fred D. Happen Of the Gallatin bank
said: 1T came to my knowledge some time
ago that the Comptroller OF the Currency had
required the Maverick to pay up con-
siderable sum to make good an i'm
pairment Of its capital. although IL
showed a largo surplus on its books, at
ably W. formerly had an account Sth to
bank. but changed three or four years ago to
other banks Ieyer knew anything about tho
tIa5Ie$ b, spesSis..ive Doopiss .spesalasioq
not thst ~ soased Bank
IKE this one can have any widespread effect;
the san9 AND n ssnea spsssea
G sossoa sss any bank ur could ]
&c as9k this not RhIssts will have
is1ssly u sssess the and dema asLs as
s msEe t BY pss %s Possibly The there macy
week 70 strengthen ths othee banks tSspe. but
On aSe Stock
take Il. is IL purely local. due entirely to lad
" TN National Bank of tho
ae {Sa whtSh was formerly
ACCOUNT With via tSs Hsyesict Sat daslne 1 the
past 1--WE years it has been wthdrawn
q i. :; hssy FRI small dssSst
ae e Is Sssb
had tRssa
relations, with these correspondents who
@ sa tSan fol- pEaon II their
Sa Sss h %
have 70 Is which fsads @ me- 70 aS
that thSy or are
s S nsSse Rss
Ssesss q "a. she Maverick Bank in stocks Of an,
i Presiasat ascrg. F, Baker Q, the First Ma
Of Tss IL ss
sss eysSipe thas he hsd not heard s6s. . thss
Bank srsSes The Maverick
With The First National. Since then a. the Ma .
XXsrick had dEewn very little on Is aoooqnt.
sconeld said. had nothing to do with tie Ma
Ysss Bank N BaIsf sT ha II
f fresideHt bak ak s0, Returned from Boston on
t aryen as train to Last tbs sve Soass aof
q SehleX;, He was there until nearly mid
asked IN turn: Has L been Suspended sofs
the IN he
itwouid hurt any other bank or not He saw
The immediats cause of the disaster" said
sat %Ss os SS NJ 0Tsd u. the sws 4 ss
spread and caused a run by the deposttors.
The gross deposits were a a. about 5000 Ss O9o.
Bsse TN allure VIII have
days It j. more than ~ probs bal that the bank
s sssfsd Sna nss e'1 Va:
sS%SG 9e;:s Ss;s aSs Hns'a!ss RSS
from these sums would still leave 500. 900. It
u hss aR that ao ea fs S S orf
kspt their reservees In New Ycrk: 50 that ne
ASA Potter owned nearly all the capital
no outside business. There was a suspicion
SS g s, SssSs Il Fys TS
ana ~ tie a ss
Late last night a man Of prominence among
New York 6nancial men said that n Gsntlens,nT
snf
e ssa to s
teman thought the effects q the disaster
would cOunneU ALMOST excluBlVely 10 DOB.
ton New York. no thought. would be but
slightly affected
Mr.. Henry Clews said: There have been
ton to the President Of the bank and bis con-
nections with Irving A. Evans Il Go. Mr.. Pot
lieve. Ho had, It is said. about 5000 shares OF
Missouri I !, Pasitlc and got squeezed in the re-
"The losses cannot possibly fall on Now
York peoHle to any important extent, but will
OF New England. The moral effect. however,
will boa shock at every place where national
banks have been established, as It Is a large
Is no ignoring the fact that 1t is serious dsas-
ter. and it only goes TO show the need OF haying
directors In all Important financial institutions
that direct and do not leave the entire man.
agement TO any one man. MS is apparently the
caso in this instance. / cannot see how tho
loan market il To be affected by tho failure.
Money Il comparatively easy now and the sur
season. There seems to be. no reason for an
apprehension that the, New, York money mar.