Beverly banner. [volume] (Beverly, N.J.) 1877-1964, 1883-07-07

RETURN OF VIM. A. SQUIREs. Mr.
Squire, of the firm of VIM. A Squire &
Company, about whose leaving the city
number ofstatements were made in the
newspapers some ten days to two weeks
ago, having returned, he writes to the
Ledger the. following statement of the facts
of the case, which are herewith publish
ed as Justly due to him for his vindica-
ton.
PHILADELPHIA, June 20, 1870
the Editor of the Public Ledger. Dear
Sir: My failure is due wholly to A. L..
Bonnaffon. am accused of exiting"
with him, and dealing in paper. The
|. Exiting" was all on one side. | was
loaning him my name for his accommo-
dation, and until about last December
he rlways protected everything promptly.
The latter part of that month he borrow
ed of ME over $200-on check-which,
added to paper already out that | was
responsible for in the event of his not
paying the accommodation paper, as
agreed, made my libility about $4,000.
L Immediately began to reduce the
amount as fast as could by getting as
much Of my paper from him as could
and not giving any more. In my efforts
to protect my name and stem the tide,
| began to get slow with the Mount
Vernon Mills. They began pressing me,
and asked them if they could use my
paper. The President wrote me that he
could. | sent them between $4,000 and
$ll 900 making the maturity at times
when ! thought would bein funds to meet
them, The first three or four notes !
paid promptly; then accommodation
paper held by Bonnaffon began to
mature, and strained every effort to
float. He told me it would be impossi-
BILE for him to pay the notes; they would
have to go. then appealed to my late
partner for few thousand dollars loan
to enable me to pull through, offering
him as collateral stock certificates. He
finally consented to loan me the money,
at ten per cent. per annum. | consented,
and with this money | paid these
accommodation notes given to Bonnaffon
Right on top of all this more of the
notes given to the Mount Vernon Co.
began to mature. did not know which
way to turn. On the I'd of June, between
1900 and 1900 fell due, and before 8
O'Clock it was paid, but | had gone to
the end Of my string. On Monday, the
4th, about $500 more of my paper had
to be paid most of it Bonnaffon
accommOdation-and not knowing where
any of the money was to be had my
head was nearly turned. l wrote to my
wife that | was ruined and could not
stand it any longer, and knowing that
further success was out of the question |
would go elsewhere and look for employ
ment. After paying the Mt. Vernon
Company's obligation had not five dol
lars left. Knowing that my interest
with Pusey & Squire justified it, drew
from bank money for expenses and start
ed West in search of situation.
refute any and all accusations of dis
honesty, and did not take cent of any,
body's money with me; neither did go
away without letting my family know l
was going. Before Bonnaffon went to
Europe | appealed to him to make me, in
some way, secure for the money | had
paid on my own notes, which he had the
benefit of. He proposed to give me
judgment notes and an assignment, but
before doing so compelled me to make
him an additional loan of $500, in adj
ditiOn to all he then owed me, which |
was forced to do. also refute my late
partners accusation that L ever used the
amount of "double-time" note that was
paid before maturity. Any moneys that
| ever used of Pussy & Squires, temp
orarily, always paid back to them,
and frequently have loaned that firm
$1,000 to 1900 for month or more at a
time, not charging them any interest,
while Mr.. Pusey has ever since the for.
nation of our Partnership been receiving
II per cent. per annum for every dollar
he had in the business. He compelled
me to pay all salaries. and also rent, thus
making it very hard to get ahead much.
In vindication of myself and my family,
| would here state that | have done
nothing dishonest, and that had no
intention of running away One year
ago 1 considered myself worth Is to
$4,000, but through bad investments and
DONATIONS failure, to-day have not a
dollar in the world, and am compelled to
begin over again. 1 have made the Mt.
Vernon Company proposition of settle
ment, and hope to live to pay every dol
lar 1 owe. My wife has even been
compelled to rent her little property to
keep the wolf from the door.
w. A. SQUIRE.