New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-01-01

where il was learned that d. w. Berlan broker, at
No. Is Broal-st., Albert Stickney, lawyer, No. I'D
Broadway, and +. o. Boyd, wholesale liquor dealer
at 10. 80 Broad-st are among the directors
Mr.. Bonner was at one time the editor of HdrpeTs
Weekly and subsequently financial editor of The Her
aid. While occupying the latter position he wrote
some very severe criticisms of Wall-st operators
and the manner in which the business
Of the street was transacted. After he left Ihe
HoaM he became a member Of the Open Board oil
Brokers in June, 1861. When the Cpen Board
was consolidated with the regular Stock Exchange,
in 1862 he joined the latter. While there
are members of the Exchange who are ready to cry
81 told you So" and who claim they have never
trusted him. tits generally admitted on the street that
he had well established reputation for honesty
There was mingled expression of disappointment
and anxiety on the faces of many brokers as they
left the street last evening. even among
those who were not directly sufferers by the
failures of yesterday. Not few were
fearful that the events of the day were
to be followed by other startling disclosures here
after. What other houses have been creating nc
titious capital in the adopted by the Meters
and by Bonner was asked again and again without
receiving satisfactory answer.
Mr. Bonner is brother-in-law of his part
Sewell married the daughter of Lester Wallack.
At their residence, last evening it was stated
that Mr.. and Mrs. sewe left the city about
| o'clock Yesterday, and they would not return
for several days 1t was believed on The street that
Bonner had gone to Canada. where he formerly
lived and where a number of brokers wished he mad
ALWAYS remained The assignment which was made
Yesterday by John Bonner ~ Co., was signed
by Arthur l.. Sewell for the firm. the document
stating that John Bonner bad left the hrm ana
tie State. IL was stated yesterday, by
a friend of Bonner that the latter admitted
on Saturday that the panic of 1873 swept all that
lac had and since then he had been "klting? that
with the aid Of the Bankers and Brokers Assoei-
alton he had lent money on abort 81, 300 Oo good
collateral security, and had then borrowed much
more upon these collateIals.
Mr. Bonner was offering to loan money on the EX-
change on Saturday, at per cent. and mt the same
time he was borrowing all he cOnd obtain at Z per
cent the former transactions being made evidently
for the purpose of aaying suspicion, should any be
aroused. Later in the day he remarked TO
an acquaintance that the market was very
dull AMI he had been unable TO loan money at per
cent. 1t is understood tha5 on Sunday Mr.. Sewel
Announced 70 his counsel the condition Of the firm
and the niglt of Bonner and asked for advice, and
that il was in accordance with the advice thus OBJ
tanned that the assignment was made yesterday.
II was stated yesterday that the failure WAS pre-
cipitatsd somewhat by the action of Norden "
Loycyich last week who in conideutia way
discovered that the firm was III trouble.
Nr Worden had borrowed $4,000 OF
Bonner * Coz for which h. had pledged
Panama stock worth Sl25,o0O. He took immediate
steps to secure the return of his stock md finally
succeeded on Friday, bnt it apparent TO MI
Bonner from this aId other transactions, that the
truc condition OF his affairs was becoming known,
and that his credit would soon he ruined.
After o'clock notice was placed on the door Of
the Office NJ No. 81 Broad-sr., announcing 10 ehe
creditors of the firm, and others having dealings
with them that the assignee was preparing state
ment q the affairs " the firm, which he would com
p'otc at the earli@-t possible moment when TIE
cirdt ors would receive due notice.
RumCrs were current yesterday that the American
EXCHANGE Bank had suffered by Bonners failure.
President George S Coe said yesterday that tie
bank had had no transactions with Bonner TO-
wears The officers of the Union Trust Company said
,lat they hal done soma business with Bonner, but
that he owed them nothing. II was reported that
4. II Combs had suffered, hat he could not be found
on the street Yesterday. Various other statements
were ailoat On the street during the day, but they
could not be traced 10 trustworthy sources.