The Wilmington daily Republican., 1891-06-08
LIFE OF A SUICIDE.
Jacob Bonnett's Accounts Short
Close On to 100000.
POOR PEOPLE LOSE THEIR ALL

HOW tho Secretary of a Number of
Building Associations Took Ad-
vantage of His Trust and Then
Bought Lottery Tickets-Trifiing
Assets.
BALTIMORE, June s.--Jacob Bennett,
one of the best known men in the city,
was found dead in Druid Hill park. He
had killed himself with iaudanum. His
family attributed the suicide to i'll
health. but within one day of his death
there were reports Of defalcation, and
q hasty investigation proved that Bon
nett had got away with considerable
amount. Twenty thousand dollars, 1t
was then thought, would cover the
shortage, but the receivers appointed. by
the court announce that after a cur sorry
examination they find a shortage OF
$4,000 and they expect IL win reach
nearly twice that amount. Among the
victims, of whom there are. about 100,
capitalists, lawyers, merchants and
working people, whose individual losses
range all the way from $500 to $1,000.
The majority are poor people who could
Ill afford to lose the money.
Honest Jacob"
Bonnett's peculations date back nearly
ten years, and soon after he became
connected with the Rothschild building
associations. The first Of these associa-
tons began over quarter Of a century
ago Nearly every year q new one was
started separate and distinct from the
others, From time to time the period of
their incorporation ran out, and today
there are but two in existence, known
respectively as Nos. 10 and 90. It was
customary to let the same officers hold
over from one association TO another
4; Germans in the eastern section were
2 glad TO join and placed their weekly saw
Z ings in Bonnett's hands, The latter was
nominally the secretary of the associa-
tioh, but really the entire corporation,
the president and treasurer were of his
own selection, and these, like the depo-
sitors, placed all confidence in Honest
Jacob" At first the secretary gave re-
celpts and turned the money into the
trsasurer's hands, but after o time this
waa stopped, Bonnett explaining that
this was useless proceeding, causing
mach trouble, and that he could better
attend TO the financial affairs by retain.
ina the money.
The Books Not Examined.
No'onc ever looked at the books or ex-
aIisfned the accounts. Everybody
trusted Bonnet implicitly, and as The
years went by his reputation for hon
estS and sagacity increased. Meanwhile
the secretary was leading dual life.
Down town he was an orthodox chris
tian, up town he was one CT the boys.
He'spent money freely, and now and
then bucked the tiger. Lottery was his
hobby. He was interested not only in
drawings in this country, but in those in
Europe as well. It is also intimated
that women not of his household prof
ited by his illgotten gains. He kept this
up for years, and yet retained the conf
dence Of everybody.
Week in, week out he appeared at his
desk and took in the money ofthe stock
noiders amounting in tine aggregate to
$500. Finally this sum did not meet his
demands and then he began borrowing,
His plans was simple. He used the
names of the associations, thereby MAX
ing them liable, as the receiver explained
II, ne would draw mp notes at pleasure
and get Samuel, the president, and
Thurman, who acted as treasurer, to
sign tiien. They never asked any aues-
tions and invariably affixed their names.
OF course capitalists were glad to make
theiinyestment. When the notes came
dufhe paid the interest and had them
reiibwed-
On the day he committed suicide Bon
nett borrowed 81 400. and even now no
onaknows what became of the money.
There were also many working people
whom he inveigled into loaning him
money, and they lose every dollar.
Trifing Assets.
The assets, which consists of mort
cages issued ON weekly payments and a |
farn, will not exceed q, 900.
Mr.. Martin Meirdinck, of the German
American bank, was appointed receiver
by the court, and all day his house has |
been thronged by poor people who ask
aftar their money. One of the victims
is aSwoman Lamed Steele, whose hus-
band lost 81 $40 through a failure and
took 70 drinking. This killed him. His
widow opened saloon and saved Sc 1000.
She explained that she was afraid to
marry lest a husband might spend the
money, so she entrusted It to Bonnet.
now she is penniless; washerwoman
loses 500, her savings of ten years; ono
old -man gave Bonnet 800, which
money was to bury him; and a number
Of other equally pathetic cases might be
cited Bonnet was 90 years old. He
left . widow and family.
would Not Change the Name.