Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-01-27
Corsspondsnee o: The Evening Star.

Corsspondence o. The Evening star.
BosToS, January 25. 1893.
Every dllAtory motion has failed. every legal
Obstruction that the ingenuity Of q great firm
a. lawyers could devise has been swept aside
and this morning the trial of Asa P. Potter.
formerly president of the Maverick Bank of
Boston, began in the United States circuit court
before Judge Putnam The jury was i'm
paneied Tuesday and today the government
began TO put in its evidence.
For time IL seemed possible that Mr.. Potter
might escape the meshes of the law. just his
fellow directors and defendants. Col James, H.
French and Mr. Thomas Dana. have done. But
thoughthe indictmen against his associates have
been qdashed. some Of the charges against Mr..
Potter have stood the legal test. and on these
De Is held TO answer before judge and jury.
The front Of Mr. Potters offending the points
wherein be was eulFable beyond the other di-
rectors. was not in the alleged false returns to
the controller. which all thee signed. or the
large loans. which he. as director. approved for
his own benefit. The courts have not sus-
tanned the indictments on these counts.
serious a. these Ofenses were at first
believed TO be in the ewes of the law. The prin-
cipal charges ON which Mr.. Potter goes to trial
Is the false certification of checks and false
tries IN the books of the bank. Moreover.
these discriminating acts. the chief offenses on
which Mr. Potter is tried were committed for
the benefit of his friend and associate in specu-
lstiou. the late Irving A. Evans Of this city.
The story OF their relations explains the real
reason why Mr.. Potter is before the court
today.
"xERvY" EVANS.
Two years ago Asa p Potter was Boston's
greatest bank resident and Merry Evans
n he was known, Boston's most famous
broker. They were rated among the million
aires Of the city; strangers heard their praises
and gaZed after them on State street; the news
papers we're full o. their comings and goings;
the stock market rose and fell with their opera
tlous.
Today Irving Evans lies dead BY his own
hand and Asa Potter is on trial for an offense
that may land him in the penitentiary. The two
men were the closest of friends and they went
down together. The business Of Irving A.
Evans Co. went into the hands Of assignees
October %. 1891. and the receiver Of the Nav
eTick Bank was appointed just one week later.
The suicide Of Irving A. Evans and the downfall
OF the Maverick Bank stand in the intimate re-
lation of and effect. The shot which the
Young broker fred into his own heart tore aside
the curtain that had concealed the financial
methods OF the bank president. If Irving Evans
had not died the Maverick Bank would
be DONG business today. 1t has closed not
because II was unable 20 go on. but because
II vas not allowed to go on The 20 per cent
dividend already declared. despite the forced
settlement. show that the bank Was really
rtlFNII NOtD II suSf ended IL ulu not lall OF
Its own weakness. but because the revelation of
it, methods which the brother OF Irving Evans
brought about lmpelled the controller to arrest
Its course its business was not Improbable
or devoid OF able financial direction; it was I'M
conservative aud declared illegal.
DRAMATIC STORY.
This story Of the relations Of Mr. Potter and
Mr. Evans Is a tale full of dramatic situations.
IL az ords q background for the display of the
- Hraa nf hrTr
Ambition. love. friendship. courage. PRIDE in
gratitude, avarlce. despair. revenge and re-
morse all have part IN the drama which
tn death OF one actor and the rum of another.
W bank president in the United States was
tstter known IA Washington up TO the day the
Maverick closed than Mr.. Asa 7. Potter. lie
VS. one Of the few bankers who had the cour-
age and the patriotism 20 take 500 900 900 of
ult-d States bond- when thev were doubtful
commodity and their depreciation meant the
ruin Of himself and his bank. Mr.. Potter sue
ce-de.i IN finding market for the bonds. sold
them aud collected the money IN time to pay
for them a. he agreed to. That looks easy now
Ii Vas a hsrculean ask then The government
never forgot quite u. Mr.. Potter stood well
with each succeeding administration. and DIS
ungul-hed officials and at least one President
have been entertained in his former palatial
Residence d; Nantucket Beach.
Mr.. Evans trained III the Boston Five
cent Savings Bank, of which his father. Mr..
Aiouzo H. Evans of Gov. Eussell's council, has
long been president. When he had saved
$1,000 be went into the stock exchange and at
once became a conspicuous figure. He was an
operator OF the Wall street type-keen bold
and wonderfully fertile in resources. 1t would
be impossible for Bostons most enterprising
banker and It's most successful broker not to
become early acquainted, but their intimacy did
not begin until 1855. Mr.. Potter had pre-
vi1usly q en- ;ir. Evans a strong letter of in
PRODUCTION when he became a member o. the
NcS \ ork stock exchange. and this favor the
young broker never forgot. :: made him
10 .! frlsr e: Potter as long as he lived
DOUBLE LIVE
About lssj President Potter began a sort of
Ir. Jekyn and Mr. HYDE existence In one re-
sp@st he vas the Boston banks president. SOLID.
tu5-tsntial. conservative. In another vein hs
bCrsme by tie partnership relation which he
formed with Mr.. Evans. one OF the most daring
Spectators In Boston or New York
he nrst three years Of the joint operations
~ Nr. Potter and Mr.. Evans in the stock ex-
chang period Of almost unbroken suc-
Geo TEey made strong team. On the one
hand vas the bank president, with his large e1-
Yeri@nee and his ample financial resources. On
tie other the Young. ambitious and alert broker
tho one man who Was bright enough to out
general the shrevd Henry :. Ives. the Young
Ssucie"n o: finance" and have him acknoYi-
,tSs i--
-Aeir frst big loss came in 1888. when their
toint account ran behind SlGs. 900 IL is asserted
tlAt Wy fotter refused 10 paw any share OF this
lo--. but encouraged Nr. Evans to try and
maze Up the deficlt b further operations on
the stock board To this tax Merry Evans
addressed oil ne loyalty. MS energy and his in
drmitab'- 81. In sig months he had reduced
th~ rsrci. ~ The account TO less than s26. OO0
a Fer.'d % successful operations followed. bat
th- balance sas seldom on the right side. and
In 100 ran far behind again. The Barring
Bros failure proved TO be good thing for the
JOINT account They were short on a good
msuy stocks and succeeded IN pulling the ac-
count almost out {: water.
The improvement, however. was Of snort
duration Everything went wrong in 1891.
y N.Y. lost : -0O 600 IN Aichison. almost as much
more m New Eugi4ni and nothing seemed TO
turn oat Seil tars consultations and con-
ference were he'd be- xe.A the banker and the
broksr at the Temp. q! 10 II q sxia at.empt to
retrieve their -aniug fortunes
But hope ~a- always with an. their opera
tion- wers carried gu unoa a scale that would
z-;ouish .e-s bold and experienced fuanciers
IL did ret seem m especially se:ious matter to
b. slce.GO behiai today when .he accoun,
w. hkeiT - -hOv gain o. $50 900 ton,or-
T.~ - r.: until Ias ba!.-~es pile upon
80 wong -.ls az o5-tiuet-,- hung there
u. he operators became alarmed
..1cf. n'on-y went after faI. urtil the Ma
sr.sA Esuz lS1 loaned lrvius A E.aus & Co
ave. sJge 0cc-=zO0. 900 rrOye than It's entire
eapi:s. -il,ck The sruks only security for
ela-u.on. loan n a.. a.no51Dt NJ al