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The Maverick National Bank was a bank in E … The Maverick National Bank was a bank in East Boston, Massachusetts, established in 1854. and failed on October 31, 1891. The bank had extended large loans to its president, Asa P. Potter, who used the funds for speculative investments. Much litigation followed the bank's failure, including Beal v. National Exchange Bank of Dallas and City of Summerville v. Beal. Potter was indicted for violations of the banking law. Nehemiah Gibson was a president and later a director of the bank. In 1897, the remainder of the bank's assets, which included many worthless stocks and bonds of already defunct companies, were sold at auction by R.L. Day & Co., a Boston-based banking firm resulting in $429 of proceeds.anking firm resulting in $429 of proceeds.
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The Maverick National Bank was a bank in E … The Maverick National Bank was a bank in East Boston, Massachusetts, established in 1854. and failed on October 31, 1891. The bank had extended large loans to its president, Asa P. Potter, who used the funds for speculative investments. Much litigation followed the bank's failure, including Beal v. National Exchange Bank of Dallas and City of Summerville v. Beal. Potter was indicted for violations of the banking law. Nehemiah Gibson was a president and later a director of the bank.resident and later a director of the bank.
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Maverick National Bank
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