New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-08-17
THE CASE OF THE MAVERICK BANK.
INDICTMENTS FOUND AGAINST POTTER FRENCH
AND DANA-THE SENATE COMMITTEES
INVESTIGATION

Boston. Aug. I6-Four indictments were today re-
turned against Asa p Potter. Jonas French and
Thomas Dana, ex-oficals Of the Maverick National
Bank The Grand Jury reported before Justice Put
man, in the United States Circuit Court Mr.
French was admitted to bail in $4,000, John Stetson
being his surety. Mr. Dana has not yet been arrested
This was in accordance with arrangement between
his counsel and United States Di strictA Attorney
Allen. Mr. Allen asked the court to fix Mr. Poters
bail al 10000 on each count OF the two indictments
found against him. He based his request the
ground that the attendance OF Mr. Potter shonld be
assured not alone at the trial. but also during its
progress till its conclusion Z. p. Howe. counsel for
Mr. Potter said that his client had been unrestained
and without bail for some weeks since the previous
indictments quashed and showed desire 10
fee He also said that the District Attorney had stat ted
nothing that showed that Mr. Potter would not be prsen
during the trial. and that the alleged wrongful acts
of his client did not rebound Mr.. Potter's profit
Justice Putnam fixed bail at 10000 on the false
entry indictment, and at 10000 on the false Ger
tifcatos. Grenvllle T. W. Bremen accepted as
Mr.. Potter's surety. Distrct-Attorney Allen asked
that the defendants present be arraigned, hut on
time being asked by the defendants counsel, tho
court fixed September Is the time when they will
be arraigned, and will have until then to oppose the
indictments OF the indictments against Mr. Potter,
one contains eighty counts and the other thirty.
The former charges him with making false certlfca-
tions Of checks signed Irving A. Evans d Co.." the
face value OF them being between 100000 and
$500 600 In the latter Potter Is charged with max
ing false entries in the books of the bank, beginning
In the spring OF 1890 and ending October L. 1s9l,
and also with making false entries In reports to the
Controller Of the Currency, covering the years 1890
and 1891.
The charges against Mr.. French and Mr.. Dana are
nv no means 50 extensive those against Mr. Potter
The indictment against SIr. French charges him VITA
failure report ovcrdrafts OF his own, amounting u
about $50 900 In his reports TO the Controller OF the
Currency in May and July of 1891. This showed
q discrepancy OF s444971. The Indebtedness OF
Directors French and Dana extended back a good
many wears Mr.. Dana is charged with failure TO
report o,er-drafs aggregating 100000 in his reports
of July and October OF the same year. More indicl
mens will follow Il is said the ones reported 10
The Grand Jury excused until octobe- l. a.
which time further investigation into Maverick Banh
affairs Will be made.
The United States Senate committee 10 investigate
failed banks with view ascertaining II more law
is necessary 10 the safety Of these institutions. held
their second session to-day The case Of the Maverick
Bank was continued from yesterday. Clarence Johh
son was the first witness. He described a nunipef
OF loans made TO Frank Jones' Cook d Co., Charles A
Sinclair and +. +. Baxter, which aggregated many
thousands Of dollars The large loans began to ap
near in 1875 and 1879 In the returns OF the Bank
commissioners the excessive loans 10 the directors
were not mentioned so far as ne found.
William Chandler son OF Senator Chandler, testified
MS a bank expert in the case. He described in detail
his work in tracing ont four notes, inclnding the
Maccruder notes. all backed by collateral Of Mexican
Central sevens Witness read list Of the over
loans OF the bank IN several years. The overloans
began, apparently, in 1879.
After recess Clert stetson. Of the United States
Circuit Court testified TO having in his custody a
small trunk belonging TO President Potter and e1-
planned the litigation that had arisen over II. lie
nn.ifs. too xri
,,, ,be cour, senator Chandler requested the wit
ness TO secure the cOurte permission for the com
miftee to examine the trunk and have II ready Tor
,r,.ety.,s IN Tbursday morning. Ex President
Potter was called as the next witness. HIS counsel
Elmer p. Howe. said that he advised Mr. Potter 10
rrfIsc 10 testify before committee, the ground
that it had no power TO inquire into the private
The Committee adjourned until IL o'clock 0-morrow
morning when Mr. Potter will be present.