The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-01-11
CORNERED ON CALL LOANS.
BROhI8 EUNNING ENPL TVS WHITUiS
JiiOI GHT TrRY PECtLTIR.


Tight Ncucy aud sudden Cans on Notes.
MI +. Y Bell, the assignee for Y J. Dun
ming. the note broker whose susp nslon IS
announced Yesterday. was husily at work all
day ia trying to effect "a settlement with the
banks and others affected ly the failure lIe
said late lust evening that many Of the banks
were willing TO compromise. AMI that in ono
or two in, tnncos bank presidents were prepared
to grant est nsions while their directors OBJ
jcctci 1t was said tha, the loans obtained by
Mr. Dunning on plcd.cd notes wcrr between
tSoOo0o and s9oO.oOo. hut the estimates of
losses varied widely. some estimating them
at 100000. On this subject Mr.. Bell was very
rctcent. saying that his time was SO fully
occupied in negotiating settlement that
he had no time to consider anything else He
had hoped. earlier in the day. hc said that
settlement could he made which would enable
Mr.. Dunning To resume business at once, but
he had been disappointed. Mr.. Bell refused to
tell what propositions had been made to the
banks and other creditors. but II was ascertaincd
that they were invited to make u settlement on
fixed basis - say fifty per cent all around.
Mr.. Dunning with Mr.. Cyrus W. Field an old
friend. visited most of his creditors yesterday
ns rHa Sc q III 9SSsSn Sas mSS
was expressed Mr.. Field considered the as.
SiSHimSS9t sn1isSt grswe2l,Ire ellOm Mr Dnrning had
havo tidcd him over"
Late il the afternoon itwis .rumorcl in Wall
street That Dunning's operations had been, in
some Instances. fraudulent. II was snid that
he had separated certain wnrehousa receipts
from notes held Ivy him. anl had then pledged
the receipts and notes separately. thus getting
Two loans upon ono note Last evening
2 SrN reporter mentioned this rumor t. NJ
nunning. who said: Il suspended on
Wednesday. On MONDAY money wss very tight.
luNnins o.. hisn ~ l-lG o. per cont. II not
hisher That morning the Bank o. tn" Stltr oi
y ~ ||f B. IL Dlk .Hn a. Z. O. q
amoun,-siao0c 0co. b,li"ye L is VISIONARY 10
mnkn certil atlons good before 3 o'c.orS tho
raise the amount | nc.iod. | could not
gci T. and at {, closing hour went 70 Mr Hovs.
tn" Prr~ id"n'. and frankly told him how | WIS
situat"d. lie consented 70 hoid the amount
curitics as could. ] told my, bookSecp .to
amoqnt On tho next day learned 'hai
ne had sent ecrinn wnrehyn-o r,'"'sis
note. This he iid without. nv know'cdee. or
consent, and was sorry 60 h'At o' li SiIl. '
th usht. ii VIII not h. dinl at - e'i w'ai
money ! want tomorrow. On N"Uu"s day ]
wa refused '"rt ilftior. AMI wt- f''d Ny
ltnS pr siient that rumgfs ~ ting np
business sirniins " ~ az ~. lDtt- '.rt
/ hai considered safe for sgm- t. ~ r..
suddenly called IN inai du,. huI d.trmir. r.l
/, mgsc the as- snment. limo 1other.c'-. dDi
mis-. ant in t.i~ Was rof 90 hlm.. iaI
'n N,h Nh gan "tly trla; % hy gag
no in' r'tn y seri.n- IN ,f.-c -.eug
N7i y .-l lwi, no.r. .,. ".".,s
s .Gre ,oys.N In-Ianl viii e.sl II, ,im. y,
! ''n sure lnai d ..A.rllry i.i wI suA iNs
t."s ilt' = tf- s 'f frIni 500 jl. 70. .1 -. il.
i'r,9 % rer cent; .ni l 20. ng..- rr.iiei
Guam al-w r. 10y tie results. In iny husigr..
o'' IN luy no,e OF a m 'h-a'i ig1ins
T. haqk. rnd hold ,myseli .lablo i'r iums
tr9', irof ,r merchants. lne CO. iol ~s-,
raised to-day IN. regard to th"si noe. 20. ~
own r-fII.. | / 2 bias lfItf il.'. i.t.