New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15
0. N. BOGART & co. INVOLVED.

AN ASSIGNMENT MADE To JOHN WIlEELER-THE
LIABILITIES AND ASSETS NOT KNOWN.
One of the first failures announced was that of the
well-known banking firm of o. NJ. Bogart & Co.,
No. los Broadway. About 10 o'clock Mr. BOgart
sent for ex- Tax Commissioner John Wheeler who
has done some business with the firm, and made an
assignment to him, giving the following prefer
ences:
Mary stoctwell as exeeutrlxl, $15s3 90 and indi-
ydGa q 9 MO so st9GfW g97 % DIX James ne
Caroline A. Hardie 81 459 SO; Jane A. Kelly, ~ sSl "a;
An S5s Hsy s 70 S PeSr & o}2 B E%
1926 80; James VI. Campbell, 1890; c. W. Pardee,
1871 81; total SlSs76 20
In addition to these, Richard w Bogart,a nephew
of o. NJ. Bogart aud member of the firm, made the
following individual preferences for money bor-
rowed:
Julia de A. Johnson, $4,000; Elizabeth de Angels,
$4,000; Ada de Angels, $4,000; Anna f. Reynolds.
s319oO2 Elizabeth L. Bogsrt 50 sos 49, and Robert H.
COrbett, $500.
These loans were made recently and, with the ex-
ception of the last two, secured by notes pay
able on demand.
Mr.. Bogart declined to make any statement with
regard TO the embarrassment of the firm its causes
who affected what the prospects were of re-
Stunning business. He referred creditors who came
to inquire about their loans, privileges and con-
tracts as well as all others, to Mr.. Wheeler, the
assignee. The latter was in consultation with
William Allen Butler, of No. Ill Broadway, until
late in the day. and when appealed to for nforma-
ticn greeted everybody cordially and answered with
a smile:
can't possibly give any information have not
the schedules examined the books In fact know
nothing about the failure excepting that was surprised
to learn this morning that had been selected as the IS
signee. AS l have made an examination suft-
oient to enghten me to the affairs shall be glad to
communicate to the public through the press have
NOT think them large as the nm nave not been doing so
about them.
From other quarters it was learned that the firm
had met with some serious losses in the last two
years, and this, together with carrying priv
leges " too long, precIpitated the suspension. II
was rumored that the firm had Endorsed some of
George l. Seneys paper, and had guaranteed large
blocks of puts and calls of Ii. l.. Powers.
These rumors Mr. Bogart denied.
The only member of the firm who appeared at tho
office was Richard w. Bogart. He kept n cheerful
face, but neither customers reporters were able
to elicit any definite information from him as to the
condition of the firms finances He pointed to Mr.
Wheeler and said.
There is assignee he tell you all there is to be
said We have been losing money In large dur
ing the last three years, and our customers failing to
to time, We have now had TO succumb don't know
that the suspension OF the Metropolitan Bank precipated
as at the Park National Bank cannot give any definite
Information about the amounts thing
to our accounts We have made assignment, aud the
dead OF assignment gives all the information there
present.
The firm Of 0. NJ. Bogart & Co. has done large
business IN negotiating the paper of the dry-goods
trade. There seemed 10 be little anxiety in Worth
and Leonard SITS and other portions of the dry
goods district however, over the news of the fail
Daniel Robinson, of the house of H. b. Clatlin
* Co.. said that he did not how the failure of
the firm could in any way affect the dry goods
trade. lie knew nothing as TO the extent of their
dealings at the present time. William L. Strong, Of
the firm of W. l.. Strong * Co., said that he had
taken pains when he first learned of the failure TO
make inquiries TO ascertain how far, if at all,
the trade had been affected. SO far as he could
learn, only one house had paper with these brokers
when they failed and no advances had been made on
it, SO that they would get 1t back That house was "a
perfectly solid one in any event. Mr.. Strong said
that he did not see, therefore, how the failure
could affect the trade in any degree Nor would
tho other aspects of the financial excitement make
any material difference with their business. Mr.
Strong added
o. NJ BOgart Co used 20 do very large business in
negotiating the paper of the dry-gOods rade-in fact
larger than any other brokerage house In the world hui
within the last two or three years their business In that
direction appears 10 have greatly decreased that re-
Gently IL has been comparatively small "a understand
The firm consists of Orlando NJ. Bogart Richard