New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-17

bonds, Union Pacific bonds, and Chicago and Atos
Railroad bonds, which had been deposited with
Rypothecsted BY them for more than the original
loans. The clients of Kobbe Brothers had borrowed
from Bogart e. Co., on block Of United States Is
and 4ios the sum Of $50 OO0 and subsequently the
firm re-hypothecated the bonds for loan Of 3d..
600 They traced yesterday to the Central
Trust Company: One hundred shares OF Union
been SS reDRypoihecstod by Bogart & Co, and wers
traced to the Greenwich Bank. No. 4O2 Hudson-st.
OF the Chicago and Alton ooSds r nse snd
they had re-hypothecated them; k0Dbe brolhers
believed that these were on deposit at the Unlon
Bank Of Dover AfoIt 0o1 VI m1Sy %t
the firm under the same circumstances ana re-
hypothecatsd by them had been traced t2 sa ao
the bonds was about 1000. ,..
Kobbe Brothers made an effort 10 settle the matter
amicably. but owing to the many conpilcs''onT \,
addition to serving papers upon the assignee ~ ".
Bogsrt & Co., and their counsel, William allen
upon the Central Trust Company. the Union Bank
OF Dover the Greenwich Bank, and Savin * Van
dcrhoo warning them against disposing OF the col
ing of the proceeds to Bogart * Co.
The trust funds of the estate of H. r. Horton.
which Bogart Il Co. have had deposited with Them
for MANY years were separated from the other
property of the firm yesterday, and deposited ia the
safe deposit vaults OF their counsel
DONNELL, LAWSON & SIMPSON ASSIGN
A STATEMENT TO THEIR CREDIToRs-ALL THEIR
DEBTS LIKELY TO Bs PAID.
DonnelI Lawson & simpsons Office presented
busy scene yesterday The clerks were busy aud
the partners here Messrs. Donnell and Simpson.
were in frequent conference Late in the afternoon
a TRIBUNE reporter saw Dir. Simpson, who SAID
We have not yet decided upon any action We have rave
liabilities of about 100000 "a stated yesterday Ou
assets are than that NOBODY Will lose anything Dy
When asked about the story of his making a de-
post of S25, 900 with the Metropolitan Bank on
Wednesday morning, he replied that the amount
was $685. 900 and related other circumstances OF
the affair as follows:
The firm had a loan falling due for which this sum was
provided. They had two accounts, one at the metro
was instructed to draw check for the amount on the
Meropoan He bis c des'9n s, and
turned with notice that the limit OF csrthcanon az the
Metropolitan doors and nothing was left to tho
firm but to suspend.
Late in the afternoon it was announced that
Robert II. Weems had been made their assignee
He is preferred creditor for $6OS3 49, The only
other preferred creditor is the State Savings Bank
Of st. Joseph No., which is preferred for 100000.
The firm issued the following statement to their
creditors
is with great sorrow We are compelled to report our
suspension which has been brought about by eomonl-
ton OF circumstances which we had no cOntro, Nc
only request those having claims against Us 10 extend
consideration and indulgence AZ is possible as otner
wise may be sacrificed to the prejudice OF All
As tho best OF realizing nom our assets
securing creditors we have made an assignment!
all the OF the firm and also the Individual
member of the firm, wherever situated 10
confidential clerk, r. H. Weems who has been ia o.
employ for twelve years. and Ia well acquainted WI
our and the character Of the assets as any men,
Der Of the firm, and under this MANAGEMENT.
with the assistance OF every member " tho
firm, who propose TO give him every possible
aid In executing bis trust feel warranted in saying ny
this means every dollar that possibly be realized
will secured We hope TO be able to pay all our so'
ties Is prudcnty managed and our assets
forced be sacrificed and we hope you VIII concur
DoNSEII, LAWSON & SIMPSON.
s. b. Elkins who was q deposltor with the firm,
said to TRIBUNE reporter:
very much doubt II the firm viii resume, but am
confident that they will pay every dollar. Robert W DON
nell ia very wealthy. lie Is the largest proprietor Ia Two
Western banEs-a savings bank at 81. Joseph, MO-
which a surplus OF $40 900, and large and pros
porous bank at DeerIOuge, Mont. He drew last year
fully 100000 profits outside OF his connection with
Donnel, Lawson * simpson. The reason why think
not want TO bothered. II he younger man the
would probably jump ill., clear up things In hurry
and right along; but that they have suspended
doubt his desire will be to get nd or the bother ~
clearing up paving off and stopping There is no doubt
that they will pay every dollar they No one can
question that who knows anything about Mr. Dcnneu ana