The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1884-12-31
WARP THE WICKED PARTNER,
While Young Grant Was as Innocent as
Lamb, and Surprisingly Ignorant
of the ARairs Of the Firm
U. S. e., DR., Tolls How He Borrowed
Money From HIS Father-in-Law-
Those Mysterious Government
Contracts of Grant n
ward.

The Sentinel published a brief telegram
from New York, recently, concerning the
affairs of Grant & Ward. 5ut the following
gives details end incidents which will be
found interesting:
The suit before Referee Cole, brought by
Senator james B. Chatfee to recover Sc
curit:es valued at 500 500, alleged to have
peen left on deposit with defendants, the
firm OF Grant & Ward, was resumed in the
office of the referee Saturday. Mr.. Ulysses
S. Grant, Jr., testified in relation to the
Transactions of the FIRM. BE testified as
follows: II became member of the firm
of Grant & Ward on JulY ], 1850, and am
the son-in- law of Senator Chaffee. I had a
knowledge Of West Virginia aud United
States bonds which were not in possession
of Grant u Ward. j lent some bonds TO the
firm, and borrowed s. 900 on four registered
bonds 20 &C 10 Europe. i intended to pay
when got back, bur instead / borrowed
$4,000 mere, which put in the firm as an
individual interest AT this Tina l had
charge of all Mr.. Chshee's securities, and
Mr.. Ward suggested that it would be much
better 20 Use our frieEd's money instead Of
going outside for it.
GOT CHAFFEE's WEALTH.
II then wrote to Mr.. Chaffee, and be sent
me securities and forms of transfer. l then
owed Mr.. Chafes $50, 600, which I expected
10 pay him, as thought 1 was worth more
money than was. Mr.. Ward was suopos
20 be very rich, and told Mr. Chatfee and
be guaranteed The loan. When / lent Mr.
Ward the money did not really know
what be would use it for. ! supposed it was
Tor conbactss-GoVerDmen contracts. Mr.,
Chafiee was to get one-1aif Of his profits
and was to get portion. Mr.. Ward ire.
quently showed me little paragraphs in the
papers about Government con tracts for beef,
etc, and he would try and get them. There
was a railroad loan also 10 which be re-
feTred on which the profit was to be 80 per
cent. ct first profits we're to be divided in
the firm, but sometimes they would be
smaller than others and Mr. Ward would
take out his shares first. There was one in
stance of this kind. When 1 spoke to him
about the smallness Of the Lroit, he replied
that ought not to object, for it ~as large
interest anyway. When Mr. Chafse came
East be asked about the matters, and told
him Mr.. Ward was very rich.'
WARD GOT IT.
Whenever the witness had S., 600 or $40 900
in bank Ward generally borrowed it. When
the capital of the firm mounted up TO
100000 on paper the witness asked him
why be wouldn't let others In. Ward said
he wanted to build up the banking business
Of the firm. Ward was wholly responsible
10 the firm for them. Ward said be had
taken the contracts away from other per-
sons, and in the same way they might be got
sway from him.
Colonel Bliss-Who was the person that he
said he had got the contracts away from2
Mr. Grant-Td rather not answer.
CDNA n
Mr.. Grsnt-David Davis. He was very an
cry about IL.
TIE COLLAPSE.
The witness said he had advanced 10 cash
for the business various sums He had
500, 600 or 500, 900 before ne went into the
business with WaTd. On Sunday, May 1,
ne frst learned of the Trouble Ward came
20 the house and said: ppm afraid it's all
up with US" II asked him what he meant
and Ward explained that the M4riDe Back
had drawn heavily on its reserve aud there
was $4,000 to the credit of the firm there.
The failure OF the bank would make ii diff
cult to obtain loans on the street. Ward
said il money could be raised it would be
all right. | said that could not raise any
money. bat my father might. Ny father
and then went to Mr.. Vanderbilt aud got
= check for $780, 900. General Grant told
Mr.. Vanderbilt that he thought the check OF
Grant q Ward was as good as the cneck OF
Mr.. Vanderbilt. The check was drawn to
tDe order Of General Grant. The next day
] took check for $4,000 10 Nr Wander
bit, and regretted that he bad not had il