Telegram-herald., 1891-11-04
IN NlHl GRIP OF lHI LAW
3hs o0eials ef the Maverick hank
in DuTe1ce vileL
STARTING DIscLoSURES ilB IlDE
Pssstlsss Asa Rsssss ena I've otsesssss
Axrssssa sss Ksbsxaasosns esa
UtsaDpsspsisaiea -
Eusaa

0to0D 0DfAoksvo -
Essas
posses. Nov a. PrsGdeut Asa
Pottess big baak has failed. and
il u . failure that shakes Besfsn
TO tbs very center. Happily. the
r~s~ltp - nes new thrsassa - - -
swsspAnR snA disastrsus - might
have sssa The result hsA the crash
ssns ssA1ssiy a. AaA the conditions
been ether thsn they are. Late
Ncndsy aftsrroen the examiner sent .
messeoe to Comptroller Lacey inform
Ing him that the liabilities OF the bank
ara q. zoe. oees cash on hand. 81. 600. .ooe
The iuaebtedpsks sf Asa P. Peter TO
the saak Is plsceA as 81. .ieo. .oea. lie
has made N assiGnnent 7. p. Beal,
presiaent Of the Second national bank,
has been selected - receiver.
Asa ?. Pettes. psSsaaSnt Gel Jonas
II. French and Thomas Dana, directors
Of tho Maverick national bank, were
arrsstsd by United otatss nasshals
Monday. ths lorDsr at his summer
residsnes n CoAaAsstt and the two lst-
ter - their residences In this city.
The warrants. II II undsrstooA charge
embeszlement and violation Of the
United States banking laws. which for.
bid loans by . national bank to any
single individual amounting 70 moro
than 10 per cent. Of its capital stock.
Mr.. Potter was allowed TO spend the
night at his homo in COMPANY with q
United States deputy marshal Col Jonas
French and Thomas T. Dana the two
directors who with Mr.. Potter actually
managed the bank. were arraigned
under the Same charge - is brought
against Mr.. Potter and were released
on giving bail for Sioe.ooe and s7s.oOo
respectively.
BY law the psopristors Of national
bank are allowed to borrow only 10
per cent. Of the capital stock of the
institution on the Same collateral In
this case Il is said Asa p. Potter owes
q, 500, 0oo. Jonas H. French 5000. 900 and
Thomas Dana $500. 900. or . total Of
o.. 500. oo0 although under the law only
84o, 900 could be properly loaned 70 any
one person
II was reported that the Boston d
Maine railroad had S70o, 900 on deposit
at the Maverick bank TO cover their
November dividend General Manager
Huber denied that the amount would
reach this figure. but said that the rood
had 900, 900 in the bank at tho time of
It's suspension.
About e3. 900 Of the dremen's relief
fund was placed In the Maverick bank,
but the bulk of the fund Is locked up
In the city treasurer's safety vaults4
In the Maverick was also the John
Boyd O'Rsilly fund. amounting to some
$1,000.
Dispatches from various points
throughout the state tend to show that
the loss by the Maverick bank failure
will not seriously affect local banking
housea
The friends Of Irving A. Evans de-
clare that he offered up his life as .
tribute to friendship; 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 enormous
arbitrage transactions in both ex-
changes to make clearings between the
two cities and assist the Maverick ma
tional bank to meet one draft with an
other; that when this strain could
no longer be borne he overdrew his
account ut the bank to make his own
drafts individually square, destroyed
all evidence duplicating any other par
ties, 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.
Col. Albert A. Pope said last week
that he had no evidence that Mr.. Potter
was responsible for Mr.. Evans suicide.
but he believed il, and II the evidence
was good the joint account would be
collected IL il took the roof OF some in
stitution. Mr. Asa r. Potter was worth
$3.50. 900 clear few years ago
Mr.. Potter gave . long account of
his dealings with Evans, in which he
places all the blame on the lattcr's
shoulders. He says: THE loss Of the
Maverick national bank on account Of
its dealings with Mr.. Evans would b
about 500. 900 IL the collateral could Be
judiciously disposed Of That loss had
been figured ont and charged
before the crisis of last week arose.
We settled Il In this way: The
bank took tho collsteral and turned
over the notes 10 the Arm. The diff
ference in value on the face Of the claim
and the then market value Of the
IA A. - ~
seoo. 900. Let me say that IL ] was sl-
lowed TO wind mp the afairs Of the
Maverick national bank. no depositor
and no atockholdcr would lose one
dollar that he has deposited or invest
ed. All the facts about the banks con-
dition and about its Management will
officially be made known In the course
Of time Pending that l am soatsn,
TO await the outcome Of events"
A member of the committee Of aseo.
ciated banks expresses the opinion
that the dspositors Of the Maverick ~
tional bank VIII ultimately receive a
dividend amounting TO about seventy
! ceax on . dollar. Tbe possible inselv'
ency Of Msssrs Potter and French
In view of the disclosures connected
/ with their arrest makes 10 doubtful II
The loo per cent assessment 20 be levied
on the stockholders Will yield anything
on The 800 shares held by those gen.
tlemeu. This view Of the situation cor
responds With Mat held by sthsfs who
are psased In The matter.
DRAGGED boWp NJ run MAvRhIca
bAnAsssccfsA. Me-, Nov. a-Ths
nsvsriet nAsiaahl bank Al Dssten held
90, - Of - fesde ~ We Fsrss ne
| tse~kl ss6k Of this Aitv. The news el