Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1891-11-07
OWES MILLIONS.
The Maverick National Bank OF Boston
Closes Its Doors-Linbiiities Estimated
at $4,000, ,0O0-The. President and Two
Directors Arrested for Embezzlement.


Directors Arrested for Embezzlement.
BosToN, Nov. 3.--The doors of the
Maverick bank swung open Monday
morning shortly before 0 o'clock, just
long enough to admit Alfred Ever, the
national bank examiner, and such
officers and clerks as We're neces-
sary to assist him in his business.
The visit of Mr. Ever was to take pos
session of the bank in the name of the
United States and by order of the
comptroller of the currency.
President Asa Potter's big bank has
failed, and it is failure that shakes
boston to the very center. Happily, the
results do not now threaten to be so
sweeping and disastrous as might
have been the result had the crash
come suddenly or had the conditions
been other than they are. Late
Monday afternoon the examiner sent a
message to Comptroller Lacey inform
ing him that the liabilities of the bank
are SIS, 900, 900; cash ON hand, 81, 400, 900.
The Indebtedness of Asa =. Potter to
thc bank is placed at 81, 100000. He
has made an assignment r. p. Beal
| president of the Second national bank,
HdS Dccu SCltClct do TtCclNcT.
| Asa y. Potter, president, Col. Jonas
II. French and Thomas Dana, directors
of the Maverick national bank, were
arrested by United States marshals
| Monday, the former at his summer
residence in Cohassett and the two lat.
ter at their residences in this city.
The warrants, it is understood, charge
embezzlement and violation of the
United States banking laws, which for
bid loans by national bank to any
single individual amounting to moro
than 10 per cent. of its capital stock.
BY law the proprietors 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 it is SAID Asa p. Potter owes
81, 800, 600, Jonas II. French $500, 900 and
Thomas Dana 100000, or total Of
So, 800. 900, although under the law only
$40, 600 could be properly loaned to any
one person. utH
The Boston banks have voted to as.
sess themselves per cent. of the
amount of their 10 ans This will raise
icll bank depositors.
The friends of Irving A. Evans de-
clare that he offered up his life as a
tribute to friendship; that he was
worth Ss0O,o 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 at the bank to make his own
drafts individually square, destroyed
all evidence duplicating any other par
ties, and declining to return to the city
% effect a settlement upon his own ac
count at the bank, put himself out oi
this world to save Mr.. Potter and the
bank.
Upon Mr.. Evans books are five join
accounts. Joint account No. 3 is what
Mr.. Evans termed to his associates and
confidential friends 'the big account
1t is this account that is $500, 900 under
water. There is no evidence out
side of one living man that show.
Mr.. Potter was the partner upon thi
joint account 1t has been as
sumed by the bookkeeper and MIR
Evans partners that this account be
longed to Mr.. Evans and Mr.. Potte
jointly, but Mr.. Potter's name is no
upon the books and Mr.. Evans in hi
last letters denied it explicitly. To diff
ferent individuals within year Mr.
Evans has said in conversation that Mr.
: Potter had no joint account and N,
=. transactions with him. Mr. Potter ha
i been paid about $l5O,OOO as profits o
: joint speculation with Mr.. Evans il
> various checks, but Mr.. Potter de
u clares that he has received n
checks from Mr.. Evans for owe
II eighteen months, nor has 'he durin
: this time had any personal accoun
$ with Mr. Evans. All of Mr.. Evans
great speculations OF the last eighteel
months have, however, been conducte
in the name of this joint account, an
: it is declared by some people that tn
,, Maverick national bank surplus was i
/ reality the partner on this joint account
e Before Mr.. Evans shot himself hi
IS family understood that he was il
e solvent and that he owed the Maveric
e bank $6OO,OOO, with 100000 nominf
q collateral, and it was a settlemer
II with the bank that his brother had a
= ranged the day before the fatal Octobe
g 16. Mr. Irving A. Evans was to hav
!. come down that day to finish the Sc
II tlement with the bank. 1t was repr,
e sented to the bank that the house we
it S35, 900 under water and that the ban
re should take the collateral an
sign release to the hous'
n Mr.. Evans father and brother woul
t. make that $685. good to the hous
is and liquidate the creditors on tn
10 basis of 100 cents on dollar. Th
y settlement was executed few day
d after Mr.. Evans death, and the ban
e. directors voted to release Irving A. E
D. ans & Co. from all liability, amountin
to $6O0,O00 1t is probable that the
1t rectors did not know the amount of I'll
le liability they were writing off, for the
TO were assured that with this loss take