Nah Lugz, you're absolutely right, my swiftly aging and rapidly declining memory conflated my 3 favorite tool companies from back in the day - Billings, Bonney, and Herbrand (actually, throw Wright in there for a 4th). So while I'm way out in left field on Bonney and Billings getting united under one corporate roof while they were both still producing tools, as Bonney and Herbrand actually did, that still leaves the central query about what is the Bonney brand doing on a Billings combo? I have no doubt about the Billings pedigree - they're the only combo wrenches I've ever seen with that slightly tapered beam, and the Bonney tapers exactly like the all the Billings I have/have seen. Of the two 11/16" 1165 wrenches in the original post, the pic makes the Billings open end look slightly wider than the Bonney but that's an optical illusion, lay them on top of one another and you can't see or feel any dimensional differences along the edges or open end gullet other than the slightly pointy-er open end tips of the Bonney. The Billings disappears under the Bonney and only the very tips of the Bonney peak out from under the Billings. The Bonney beam and open end are slightly thicker than the Billings but the taper matches right up. The Bonney is marked Bonaloy on the reverse side.
Some of my Billings combos from over the years, most are also marked Vitaloy (as is the 1165 matched to the Bonney) with some others and extras that are Billings Life-time. While the tapered beam appears more obvious on some than others, without pulling a micrometer and taking precision measurements of each one they all taper at the same rate towards the box end. It's also interesting (at least to me) to note that the 15/16 & 1, 13/16 & 7/8, and 9/16 and 19/32 wrenches each share the same size blank with the other. While I don't doubt there are other brands that do similar, Billings is the one I've noticed most.
Finally, in a weak attempt to defend my vaporizing brain cells, as Ricky Joe pointed out there is a Herbrand connection with Billings on sockets and drive tools, albeit most likely some time before Bonney and Herbrand were united under Triangle. I have both horizontal and vertical slide shifter ratchets branded for Billings and identical to Herbrand. That's what helped erroneously conflate Bonney into the picture, as Bonney branding can also be found on Herbrand 1/4 and 3/4 slide shifter ratchets (horizontal 1/4 ones, would need to check catalogs to see if the 3/4 ratchets were horizontal or the earlier vertical shifters ones, or both).