Morning journal and courier., 1891-11-02
NEWS BY TELEGRAPH.
 From All Quarters. WILL CLOSE ITS DOORS. Suspension of the Maverick
 Bank in Boston.
 MORE ABOUT THE VALPARAISO RIOT. Ten Thousand Killed by the
 Japanese Earthquake. BOLD ROBBERY IN PORTSMOUTH, N. E. Fire in the Prince of Wales
BOLD ROBBERY IN PORTSMOUTH, N. H.
Fire in the Prince of Wales Residence.
WILL SUSPEND PAYMENT.

Failure of the Maverick National
 Bank of Boston-No Widespread
 Financial Evils Anticipated-The Suicide of Irving Evans the Cause of the Suspension.
 BOSTON, Nov. 1.-The Maverick National bank will suspend payment tomorrow morning. The decision. to close its doors was reached after protracted conference of the clearing house committee of the Boston national banks at o'clock Sunday morning. It is stated positively that the failure will not entail any widespread financial evils. The official announcement of the suspension was made by the clear ing house committee this evening in call for a meeting tomorrow morning to take action upon proposition recommended by the committee that all the banks con- posing the association unite in making ad- vances in cash to the depositors in the Maverick. The call states that the ob- ject of taking these advances is to re- lieve the temporary embarrassment of the depositors and that the bank is closed by the national bank examiner acting under the instructions of the comp troller of the currency. The immediate cause of the suspension was the suicide of Irving Evans and the talk that followed it. The loss caused the bank by it's dealings with Evans was not large enough to seri- ously injure it, being not more than $200,- GOO. But the talk of the street made the banks loss much greater. The stories included ugly rumors about Asa F. Potter, president of the bank, and his relations with Evans. The facts in the matter are in no sense discreditable to MT. Potter. More than month ago some of the prin- sipal depositors withdrew their accounts The deposits ten days ago amounted to more than S10,000,000. During last week over $1, TOO, ,O00 was withdrawn. State Treasurer Marsden withdrew some S90,- 900 of the commonwealth's funds, which were on deposit. Other trust monies were also taken out. The situation was fully realized by MT. Potter and his associates. They met it manfully, with all the re- sources at their command. But the pres- sure became too great. A press represen- tative talked with MT. Potter to-day about the failure, but he would say very little. would close until 1 o'clock this morning. He stated that no other institution would be in any way imperilled by the suspen- sion, and he admitted that he should make personal assignment, although confident of his own solvenoy. Later in the day he decided to make Thomas N Hart and Henry D. Hyde his assignees.
 Colonel Jonas H. French, director and MT. Potter's associate in the manage ment of the bank, will also make an as- signment tomorrow.
 It is believed also that Colonel French's affairs will prove to be sound. His as- signee has not been named. Colonel French was seen this morning, but would not say that the bank was solvent.
 It is stated Bank Examiner John w. Magruder, who has been investingating the affairs of the bank, reported to the au- thorities at Washington last January that the bank was insolvent.
 By the last sworn statement of the bank, issued September 30 last, it was shown that the assets of the bank included the capital of S400, ,O00, the surplus of $S00,- GOO, and undivided profits of more than $200,000. It is claimed that the clear ing-house threw out all assets which they considered worthless and deducted 20 per cent. from the rest of tho securities and declared that the capital, surplus and undivided profits were wiped out, and that what was left would fall short of meeting the liabilities. This would indi- cate that the depositors might expect dividend of seventy-fve cents on the dol lar. The bank will be put in the hands of a receiver. It is claimed by friends of the management that in good hands the depos itors will receive dollar for dollar. The appointment of receiver will come from Washington.
 President Newman of the National Bank of the Commonwealth states that he will give country bank credit for the aver age of it's accounts with the Maverick. This will greatly relieve any distress or embarrassment which might come to the customers of the country banks and is step in the right direction. The bank officers are Asa Potter, president Joseph w. Work, cashier; directors, Asa F. Potter, J. w. Work, H. F. Woods, Jonas H. French and Thomas Dana. The larger owners of the bank are MT. Potter and Colonel French Of the 4,000 shares Mr. Potter owned 1,500 and Colonel French 1000. The other directors were still stockholders. Two policemen have been stationed in the bank at the request, it is understood, of the United States officials.
 LATER-John w. Magruder, United
 States bank examiner, died here to-day.
 MT. Magruder has been in ill health for number of months, suffering from Bright's disease. The immediate cause of his death, however, was heart failure He has been confined to his house over a month. He was born in Maryland and was fifty one years of age. He served in the federal army in the war of the rebel lion, entering as 8 captain. At the close of the war he accepted a position in the treasury department. Ten years ago he was appointed bank examiner and was transferred to this city. He leaves widow. The funeral will be held Tuesday. CONSECRATED WITH POMP. NYost Rev Dr. Chapelle,s EIeynlfon