The sun. [volume] (New York [N.Y.]) 1833-1916, 1884-12-28
GUILELESS U. s. GRANT, JR.
PATHETIC sIMPLICXrY OF BIS DEAL
INGS WITH FxNANCIER WARD.
II I Haa o6.0oo o. Greece 70 NJ CrsAit
Ne Wesld Ask Ne Where I Get II, and
Then Horrsw N"-Cha1ee's LoAaa

eff Nae es.oso o. oio.soo to NJ crsAit
Ne Wssld Ask Ne where Get II, anA
Then Aerrsw N"-CNa1se's LsAaa
A chunky young man. with . small dark
moustacho and brown hair. sat before long
suffering Referee Hamilton Cole yesterday and
talked for over an hour In soft voice about the
firm OF Grant 4 Ward. defunct Hnanciors. He
was Ulysses 8. Grant. Jr.. Familiarity called
Buck" the youngest member Of the firm.
Tho case before the referee was the petition Of
young Grants father-in-law Senator Jerome
B. Chaffeo. for tho recovery OF $780, 900 for
bonds and securities loaned to the Arm.
Young Grant said. In reply to questions by
Col. Bliss. that he became member OF tho firm
OF Grant Il Ward at Its organization. four years
ago. Ho put In 100000 Ho knew that Sena-
tor Chafree owned large amount Of United
States yegistered bonds and West Virginia
Railroad bonds. Whom the Senator wont west
no. Grant, kept tho bonds In his box. He went
to Europe In tho fall OF 1882 Before going he
had. as Ito supposed. sold hls wlfos house. and
invested tho proceeds. Tho salo dropped
through. however, and he borrowed 100000
from his father-in-law. the latter having raised
money was TO have been paid back to Mr. Chat
lee IN April. 1883. Instead Of paying the
6haiies. These were loans ' made to him o Grant
individually.
Before e IL, etn5:tSn q the time when
~. Ward ssia 4 You'd BE- better t9r us to use
and allow them to reap the profits OF the in:
vcstments than to use tho money Of strangers"
@nn Yeana GRANT Wpos
his iather-in;la n letter suggesting that Mr..
Gh s fS Ss% .Ssn. the d a5s &c s
unsG II b Wos % the goo
"a hRn trn ia 70 hA tnn Nf Ira M
ward Youns Grant nnde sod Il that Fs tho
money obtained on these securities was to DO
Mr.: Chaffee was to have half OF the profits md
yo%ng Tnn IT. part Tn" only profits he say
iset tSat 50 much Was due to ycnns Grant an or
Mr. Chan GhseS BY !hs ,1s rm Of GE rent Ward
Issd Sy ~ WnTd, and rsisrrsd Mir. vi Gha1se e
T s,G sGa VIZ ,Ss ar% bad .SSSS
got it anil then borrow II from ms. He always
sntis i.S me Tnen had any curiosity He in
might get them away from him;
I. ne said it was David Rows who had made
S@ns H on May ea wSsn q %a nS
sssmo to my fathers house and asked to SEQ me;
1s STo"teu me WIN, i IN AFRAID IL 8 all up j
asked him what no meant. He replied that the
reserve fund Of tho Marine Bank had been
drawn on heavily. and II we couldn't help the
bank 1t would 20 under. He said II / could bor-
row some money he could, also. and the disast
could be- Inverted. Father borrowed $3.50. 900
from Mr.. Vanderbilt agreeing to nay II back next
morning. We gave Mr.. Vanderbilt q check for
the amount on The. Marine Bank. received a
letter from MIR. Ward on Monday afternoon
which caused mo to visit Mr. Elkins We won't
to Brooklyn tosethcr to Mr.. Wards house. He
was not tfese when we entered Mr.. Spencer.
the firms hookkcerer. was waiting for him
also Mr.. Ward came in about I O'Clock Tuas-
day morning. Mr.. Elkins insisted on protect
Ing Mr.. ChniIcn's interests. Ward said there
were oherts besides MrChafree to be considered.
ne did not mention any one: had no know-
edge OF the Indebtedness OF the arm to other
parties Std roc si,prtse thero would he any
great losers besides Mr.. Chaffee md our family.
M. Ward promised to meet us at the FIR ms
oflice later In the morning and deliver to us tho
KEYS OF tho safe containing the securities. We
loft Wards house about 3 a. Nj. We waited Mt
the of1!cn long time that morning. and then
concluded that Ward had abscondcd. We went
t" the Safe penosi: Company and had the safe
opsned. We carried tho box containing tho
securities into private room. Mr.. larocque
rend tina securities on and Mr.. Elkins wrote
them down. / signed tho list turning the &C.
curities over to Mr. Chairee.''
The lawyers representing other persons in
torcstod in the broken nrm will cross examine
young Ulysses next Saturday.