Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1884-05-09
A BAD BREAK,
rHE pia SMASH or TaE GRANT
iiabtIities From SiN to tCu nIillions-Thc
Entire Fortunes oI the tsmily Conc
-InhkIinH IhCIr loyal AnNl.er.

Liabilities From sn to rcu mullcns s-Tho
| Entire fortunes OF the tsmily Conc
| -CobkIing Ihcir legal ADVISER.
The facts which are gradually leaking
| out regarding the operations aud business
| mnthois Of the suspended firm of Grant
\ Ward. whose collapse was coucideut
with the Marine national bank Ou Tuesday,
exhibit the condition OF the house in even
a worse light than has been generally i'm
agiued. Not only are they known to have
| rChypotheCated the securities lodged with
them on lOaus by railroad companies, but
they have obtained larger advances On
some of these cOllaterals than the amounts
they had advanced.
Tue best Information now puts their
| gross nabil ties at not far from Sl0.
| 900 600 No estimate can be made OF
! their assets exclusive OF the loans they
made on the securities they have re
! pledged.
No statement Is yet obraiuablc respect
iuE the condition Of the Marine bank, and
the prospect OF the tual payment to de.
positOrs will bc u nero matter OF guess
work until the bauk examiner finishes his
report.
An enormous amount Of unsecured ia
bilitics OF the firm exists, comprising notes
aud simple receipts for money received
for speculation.
od vany n,rsSns ~ 10, ibr,, m,rsy uc
,1cin;r;,d NV , I,,, Tina ia sf,,sd
~, .,o,,J -,,,h,ritv MT ,hr,., ava ,u,st,rd
W., ~" E,,,rI, 80 n6G OS0 or ,h,s, ,,n.,c~rSd
at7i'-,,,,.,.'.,, ,rn fr,, ia h,,v,,,, tXn
i"I,,3l,,r, s,;j,H,, ,E, II ,b,ii,ins
80 .L;s ,b,r-,r.-r vi,l ,rn,,r,t ~ All -
- ~ Gno unN
The N-sigumepts
n. ,...;..-f,.,t..,',,,[, ,,,..,:.,. ,,..,a.,.
30 ", .'J " '''S' "
p3S,''',s 49, '-o 'Ny,,,
ElT u.s., ,i.- a,';SI ,,',t ~
'Su d, 90 " '-, s.,
- -, $50 - = 49,,
| 80 80 I., 49,, ,,,, -, -, 49,, -
;Sor. E,sb IN G's ,s.i.,,r,c,. j,rn,rs ,Gs
r,,.,,s,t and s,ri,r,,Iinn ~ Cnr, or ,Tv
ffbj,,,,,j,r !, ,f,.I,',. ,,Ii,G ~, - r,,'I,-
~ a1v ,rnst lrnJ ,r eS,ats in5ivi5u,II, Cr
"a Tr;stas - tho N,rino V,,i,naI hinL
sr5 "a irdo-ser mr. gn,rantnr rron INV
,o.os or ohI,,a,jtrs Nf ~, Am II
Ca. & VI which xere l,a
Cnnntsd for mr. n, hi, T,,,,st
ara mon UhicI be ro,a;v,l .Lo ,-,-
reeds tv vromsoavcr the oblicatioas Ar,
haII 0,Ear than the Marine Na,i,r,, h,rk
Tho firm Of Grant Il Ward preCsr A nun
har oC cTal,tors bnt do NOT s,ata f,r a, ...
amornts Preference i, riyrn :, ti,..., ....
! mi bvre,son of their holding the f.r-'s
rr,-,1,ee If tho rerform,rCs ~ rs,, .,1
| contracts or tho firms promissorv r,,rs
! Creditors are next rreCrrred Uio bavs
r,de IIans IN tho firn mr. dennsitaJ r,r,'av
or securities with the frr, and who arr,
not secured bv c,lIateraIs The o.her
rrad;ror. will 3ry.,ia vyhatey,r NAV bn lafr
after naying the references The proyis
what has already Egens said in r,ferrrre -
tho prac.ire nj ,Ie Grm IN oh.,irirg
mo,av rrrr renrascr.,.ioDs ,bat - W.
iDtnrts.ed in Iarra rovarrrort r,;rro1d
nv r,har cID,rorfs
TD,,,io...-,iI, ,,.,,,,.
u,-,,,, ,l,,s,,,s ,,.,,;.,r, ,t,a',,r,;-, ,,
49,, Is, $500 20 ~ .L "
,,,o-sa',. 49,, sr,rn, O.. 6 W ~,
,ti,t -, 60 " r.,% - -
.L1,, - ,'.'
= 80.
- riHI - V. % -. - 80 =; - - a., =,
.'''+ tli % -AI oNIN ~ '.uI'9 @
~ 1000 600 'C' ~
~p Va a. I - ,T go, ~,
,rm - ;to N,,s,,i ', ~ .,o .a'
r. - 49,, t,,
a., t, 1870 '''' ~ - -" t'o
firms notes and otherwise aided them In
procuring $500, 600.
The assumption appeared to be that the
firm could get the supposed contracts rs-
tcrred 10 because OF the relations Of its
senior partner with the federal government
aud with politicians. What the nature Of
the contracts were, il there were any, or
ia what way the firm was interested can
not be learned. OF late il is said the Lrm
has given only receipts for the MONEYS re-
Ceived in connection with the contract
scheme. To what extent they have issued
receipts aud their notes for similar pur
, pose cannot be accurately stated. Persons
iu position TO know say that the amount
cannot fall short of s., 900, 600. 1t is known
that one capitalist has invested nearly
$1,000, coo aud another $50, 900 in thii
plausible enterprise. 1t was possibly t
; give plausibility to their operations and L
{ advance their financial reputation the tiru
, recently began to advance large sums oi
. money TO railroad and other corporations
i 1t is generally presumed that 1t was owinl
to the ease with which the young meI
ralaeh tlls sum that either the hrm as
G "no!e' oE "afd acting IN theiE name
} enTeleu uPo. tHe ptactlceS thas nave no
oH'y luiHsu tnon' ou' 'lppa'eu tue fortune
u many o'he'S'
Tho wsy money ussGot.