The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-01-01
tho Bank Of North America. A, 1oS

ullerence oi f4WO over the amount Of their
loan, and possi not even that Mr.. Nichols
said that be had exchanged checks with Mr.
Boocock. took back his securities. and lost moth
Ing.
H. w. Kennedy X Co. borrowed as 900 Of Bon
ner on collatprns worth over $4,000, and will
lose brtwcrn $4,000 and x60OO.
. Charles II MclEs, nj Bartlett Il Mcgs. says
that hr has been fortunate enough to be- u lender
to instend Of u borrower from Bonacr. On Sat
uriav bonner applied 10 him for u loan OF
f22VNu, "nrrlng uS collateral lnr-e amount Of
Lake shore. together with 100 snarrs Of Bank
ers' and brokers Assoeiaiion stock. Az the
latter vas then quoted at 50. Mnigs accept
cd il. aud lent tho required amount. "Whon
! heard Of the trouble this morning Mr..
wuld and told him that had certain collateras
belonging To Bonner. and that he could take up
ne loan II he wanted to. hut must 10 II at once.
lie PAID no attention to what said. ana ac-
cording,y placed the securities where they are
safe from aitaGhm,ni. | have lost nothing by
the Affair." as the Lake Shore and other stock
nccncy."
lu sill Sage holds $4,000 in tho following
collatcrals. n security for loan of $4,000
made by Bonner 20 the firms mined; Nichols &
Co.. 200 western Union and loo of Northwest
crn. si9geihcr valued Ct $1,000; " Belden 4
Munroc. per cent. linton Pacific sinking fund
bonds 10 TIC value of t5.95o; VIM. G. pornin.
wli hw seen. are fully covered by the amount of
on saturday afternoon william Van schaick
qf yam Setback \ Co.. ~ which eNAldcrman
J'nk ms Van Setback IL the senior partner. bor-
T2we,d s25ioOo Of Bonner; putting up s3o,o9o Of
pr.fcrrnd ns cnIiSterni my On p i"Wi'
Nr William Van Schack disco, red that
!h' check hc had received In return Tor the coll
lat rals. was un"ertned Van Schaick ( Co.
have made II an lnvariublc practiaa power To- 40
home lcavin- check uucertiicd Without
losing moment. Therefore. the Junior member
of the firm hurried to BOnners Office found
that Individual in. and prevailed on him To- 40
aud have the check certified NJ the Bank Of New
York without delay. At 1927 the check was re-
turned certified. and the Van Schaicks escaped
loss when many another broker. who waited
Stout 4 Co.. ~ Broad street said that bonner
held considerable amount Of the firms stock
~ collateral. but Il was protected in ways that
loss. rs he estimated IL. would be- merely nomi-
nal The securities held hy Stout A Go. are said
To- toe made NJ IN part of Bankers and Brokers
II. II Hollistcr 1t was snid. mad loaned Bon
n"r 100000 and held So 900 in securities. These
Mr.. g. 4. Bonner. OF g. 4. Bonner \ Co.. 20
bt"ud street an elder brother 90 John Bonner.
il dealer In State bonds and had no ronnce-
ton. it is allea~'d. with his hrother's business.
H. elid Yesterday afternoon that all he knew II
his brothers affairs he had read in the spa
pers He wis not n loser 10y tn" failure.
MI. c'uii9ugh a son-l Jaw ~ MI, Trcnor
W. Park. said that he understood that Mr.. Park
had pledged Panama stock TO Bonner for
loan, Subsequently,. II waa learned On appa-
renily good authority that there were 1000 on
5000 shares Of this stock aud that Bonner
loaned on IL at 20. and hvpothceatod IL at 100
Park = balance against Bonner. If the number
~ shares was 2DHO. would therefore, be
100000 provided he gets his stock back at
the figures It wa rehypotheoated az by Bonner
An Inquirer at Mr. Parks Office WIS told that
Mr.. Lincoln another relative OF Mr.. Park.
would return at T. NJ. and would bc anlu to
give accurate information ~ the transactions
with Mr. Bonner. AT that hour the Office was
found closed.
In the on &c % Ham 4 Munroe Il was earned
that ths firm had borrowed sl4 900 on secure
ties. The firm had been trying all day 10 trace
these securities. but had not succeeded. The
rel he.
gncunted II Was said that the securities were
Union Pacific stock
Bonner on ZOO shares of Northwestern COM
mon stock. He said that he had been
did not understand Boomers way OF loing
business. It, had been a conunlrun t.
hum all day II WIS subsequently lenrne'. that
s22OoO An attachment on Bonner's small
balance in the Bank OF the State ol New York
was madc, it is said. in MIR. Osborn's interest.
born dcros tod 2"0 share - II Paul c,n.,o.
as collateral for loan; The amount OF the
Rollins 4 Co. had "A balance to their credit In
m" Bankers aud Brokers Association Of
about $500. This they expect to recover from
james b. Colgate X Go. lose 500 80 on a gold
tranSaot.on.
People were cautioned by the stock telegraph
instruments Yesterday aitornoor against ne
eatuting the following securities. supposed 90
j." among those uledged with John Bonner (
shares Of I'oIk Island, Nos. 2g.i52. " 222,
p r4 &c. i47s5 "'i By HdnrS T, Inv I'm
Wilcox, 30 shares Of Union pacihc. No. 3sle
" H Soa 500. So s457s sS l -eHTs s Fs? ss
Siu3G. s5 1856. si.72i, n. 10, s5C,2. 81 SIS 30
sli, s5,sl5 sjel6 % sl7. s5.sls, $3.50. 50 9j7.
=. re- Nos 47is7 II iss AZ ,s53 Al .s5l. and a.
Transfers Of the following Union Pacific
Il 2s5 to a as ncpsye. i5o3O to 1888 in.
elusive and Al. 53l 800 sharcsl. in the name ~
w. +. Cnnnor \ Co. and 45.357. 45419, i5si5
Willlnm Belden 60.
W y. Moore 4 Co, OF SO New street will not
Bonner. hut say that thoy have lost nothing by
Jim Kecne's brokers. Fizhugh 4 Stewart. are
stuck for "A considerable amount. They re-
fused 20 see any reporters, but sent out word
my thHy nna i2se nIn9 oy n@n,srs Ia,,sre
10y rumOr that Bonner had loaned 1850 90 to
jay Gould ON II 900 shares ~ Union Pacific.
which had aiterward boon rrhypolhecated at 30.
thus realizing anet steal" OF $4,000. An
other report. better auIAenticat Il, placed the
number Of shares ut 5000. which 1t was said
hal been originally hypothccated through Bel
lien \ Co.. Gould's brokers. On this basis the
sl,a would still amount 10 100000;
White. Morris CO. received n cho'k of Bon
n COMMERCE ns late as ~ \. VI.
Concerning Bonner financial standing on
m" street. ltt one opinion was expressed.
Ly"rl body trusted him. and he had no
alnirulW in borrowing and ioauing heavy
amounts for the largest nagnat"r on tAe street.
The trouble WAS that while uet 'nsltly a capt.
li-tand n luancr OF money. he was merely
negotiator or go-betwcen, and in this way
many 81 his customers came To- grief. They re-
Earied HIM as a man ut large means and
abundant resources, never renc'1i mat
IA" thousands he 80 readily advanced upon
ih"ir collateral were got hy rehynothe aNting the
same 'lllatoral On narrower fnHrein.
4 member ui th" stock Exchange. who met
Bonner imm"dlat ly ~ hrhrlng the news of
Meter failure. slys that IN" former appeared
groatv struck with the cnormty of thrlr opera
lions and denoun 81 them nH narciared srluu-
dlrls of the worst kind. At tnnt .tr'I inn" a"
the gentleman added. Bonner was dong tho
very SANE thing himself an os il now appears
cvon IN a larger scale than Nsiifr.'
Oi the banks that wcr" mont oncd rs d'posito-
rios of tho rchyl utho, nteI scrurlties only one
il believed To lIuWo suffered a loss. The Union
Bank had two lopu- which We're amply secured
although John Bonner had placed vi. them
100 shares of Bankers and Brokers stock.
The First National Bank loses slightly by q
dili'r, urr in "a gold Contract
The Third National, the Mechanics the Man
haitian Company and the Mechanics lsnnk As
spri .tinn had mo- Dealings win the firm
TN" GullHiln National 3nnh had small loan
but is secured beyond a perndVcntuIu
The Bank Of New York certified checks for
Bonner az 10 Z. VI. ON saturday Al that
time it was said that there wus q small
ala Nu.