The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-01-05
BONNER'S AFFAIRS.

AUCTION SALE OF REHYPoTHEcArED sECuRI.
TIEs-BANKERs AND BROKERS sroCK-AN
ATTACHMENT ISSUED.
Some OF the houses which had made loans to John
Bonner Co. are closing them out under the advice
OF counsel. In consequence there werc some more
sales OF rehypohocated securities yesterday. Some
OF these securities sold auction by Albert II.
Nicoay Co in the Exchange salesrooms, those with
whom they had been repledged electing to close out
thor loans In this way and OF course, assuming the
responsibility for their acts The following were sold
at the prices Indicated
ono thousand dollar Union Pacific Railroad Com
due 1898, Interest March aud September, 9sh; 400
shares Lake Shore aud Michigan Southern Railway
Company. 500 each, Of 100 snares Chicago, MI,
waukee aud ST. Paul Railway Company, preferred
stock, SlO0 each, 72 125 shares Cleveland ana Pitts
burg Rniiroad Company, guaranteed stock $50 each,
II; 81 shares Pittsburg, Fort Wayne aud Chicago
Railway Company, guaranteed stock, 500 each, o.
The sale was said to DO at tho instigaton of W. d.
Moore, No % New street. There were several verbal
protests against tho sale OF the Lake Shore stock but
these the auctoneor disregarded In answer 10 an
inquiry whether the stock was ex-dividcnd the
following notice was read
WiIh this stock is sold all right title and interest
PLEDGES TO the dividend Of two per cent declared
thereon the 2lst aay OF DecemDcr 1871 the stock
having been hypothccated before tho dividend was
declared The PLEDGE Will execute assignment OF
such right title and interest, but without recourse
Among the sales OF securities were 200 hypotne-
Gated shares Of pur valre OF 500 each OF the Bank
ers and Brokers' Association. The entire lot staricd
at SO, and was hnaly knocked down At Sl4 II Is
believed that the sale was ON account oil some holder
VITO feared that may be Instituted by thc cred
tors against the shareholders 10 recover part OF
what has been lost.
AN ATTACHMENT ISSUED.
on application OF William b. scott and Albert Il.
Scott supported by an affidavit made by the latter,
Judge Daniels, sitting in the Chambers OF the Su-
preme Court, yesterday granted an attachment
against John Bonner. In hls affidavit Mr.. Scott says
that he Is doing BUSINESS broker aud banker at No
n Plac on the Goth Of Deccmber last past, in
the regular OF business, his hrm borrowed from
So COO in consideration OF which he pay seven
per cent interest Al the time tho loan was made he
deposited collateral security with Bonner
4 Co. certificates OF 100 shares OF Milwaukee
aud ST. Paul stock and 100 shares OF Chicago
and Northwestern Railway stock, and that
the transaction WAS what Is commonly known among
brokers AS .ca loan " the securities to be returned
upon ths tender OF So O00 with interest On Decem.
Der 81 no rendered the amount of the loan, with inter-
est, and demanded the stock. The tender was re-
fused and he told that II bad been rehypothe-
cateu with Mortz Meyers on December ~, Tor
the purpose Of securing loan from Meyers Messrs.
Scott aiiege wrongful conversion Oi the 81 ocks 10
the OF John Bonner. and upon inquiry MI Sewell,
the partLer would not tell where Bonner had gone,
and he (5cott believes him 10 have fed the country
deavoring to avoid the claims oil his creditors They
are about TO bring Tor the recovery OF tho
value OF the certificates, which they alcge wore worth
December ~ $1,000, and which, alter deducting
the amount OF their loan and interest, amounts 10
50 1875 IL