The Superior times. [volume] (Superior, Wis.) 1870-1912, 1891-11-07

BosToN, Mass, Nov. 2.-The doors Of
the Maverick National Bank were not
opened as usual this morning. The i'm
mediate cause of the bank suspension
was the suicide of Irving Evans and the
talk which followed it. The deposits in
the bank ten days ago amounted
to more than 100000 00. During
last week more than Sl,700,000
was withdrawn. 1t is expected
The banks creditors will clear - cents
on the dollar. At meeting of the
Clearing House day ii was voted that
all the banks constituting the associa-
ton should at once combine TO relieve
the necessities OF the depositors of the
Maverick National Bank, by making the
written agreement among themselves to
advance money to depOsltors upon the
security of the assignment of their
claims against the Maverick Bank.
The losses of the Maverick National
Bank are estimated at upwards of
$1,000, 900, which wipes out the reported
surplus and undivided profits of 81 000,-
COO, the capital Of 800, 600 and all of the
100 per cent. assessment that the
shareholders may be called upon TO con-
tribute. But as nearly a majority of the
bank shares were owned by President
Potter, some of which he had pledged
with savings banks, etc, il is doubtful #
the full assessment can be collected.
The irregularities of the Maverick
Bank extend back over a period of
more than two years. President Bill
ings says that when lie WAS bank
examiner ten years ago, the bank
was sound except for the fault
OF over-loanlnS or doing too
much business upon its capital.
Cashier Eddy quietly resigned from the
bank several years ago. While the law
requires eleven directors for bank and
the controller of the currency notifies
banks with nine directors to fill their
vacancies, the Maverick Bank has never
filled It's beard vacancies, except to
maintain the existence Of the bank by
having five directors. All, save one or
two Of the five were practically dunn
rlies. 1t has been for many years Il one
mans bank.
President Potter has made an asst gn-
ment of his individual estate. 1t will
be impossible to get detailed state
ment for some days, as Mr.. Potter is
sick ut his house.
Mr.. Hart, Potter's assignee, this
afternoon said that at present he
has no idea of the extent of
Mr.. Potter's personal assets and
liabilities. Mr.. Potter's property
at Cohassett stands in his own name
and is free from all membranes. 1t
is estimated that the property has cost
him Sl50, 600. The commonwealth Az
enue property stands III the name of
Mrs. Potter. The property is valuable.
Mr.. Potter has very heavy life
insurance, the aggregate amount of
which is said to be in the neighborhood
of $500, 900. Outside of his Cohasset
property his bonds and his pictures, it
is not known that Mr.. Potter has any
property in addition to his investments
III speculative securities.
The liabilities of the Maverick Bank
are $, OG0, Geo and the cash on hand
ST 100000.
The Boston banks have voted to as
sesS themselves : per cert. of the
amount of their loans. They will raise
about 81 zoo, 900 for loan to the Maverick
Bani. depositOrs.
BosToS. Mass, Nov. Asa Potter.
president; Col. Jonas II. French and
Thomas Dana, directors OF the Maver-
lex National Bank, which was closed
last night, were arrested by United
States marshals to- night, the former at
his summer residence in Cohassett, and
the two latter at their residences in this
city. The warrants, it Is understood,
charge embezzlement and violation of
the United States banking laws, which
forbid loans by national bank to any
single individual amounting to more
than 10 per cent. of its capital stock.
Although sums mentioned in the war
rant are nominal, it is understood that
the amounts involved will reach ST.
100000 in the case of Potter, $60o,O0o in
that OF French, and $500, 600 in that of
Dana. Mr.. Dana was the only one who
made an attempt to secure bail. he
fu, nished sureties in the sum of $40. 600.
Mr.. Potter's bail was placed at $40, 600
and that of Mr.. French at 100000. The
last two named remained in their resi-
dences In CHARGE of denutY marshalS