New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-06-29
ANOTHER VICTIM TESTIFIEs.
HOW GRANT u WARD DEALT WITH ALMoN COOP
VIZ

HOW GRANT n WARD DEALT WITH ALNoN COOP
VIZ.
Another chapter illustrating some of the Pc
GUITAR but row familiar business methods OF Grant ~
Na.d Wa, made pubic yesterday. Anon GooHwm'
ia-ryer NJ Va. walt the building IN which Grant
Ward hayc their office, thou-ui they nlght help him to
make some money Ae boIsnJ tocSs tAIoI-h tGcni,
and imagined all gong well and that ne was making
money until the firm col!sp 81, revealing the true
state He claims thrt Receiver Davies IN col
ctng together ~ much ~ the wr-csnsr n he could Or
the benefit ~ the ms creditors rked TIE heap ccr
INN securities that we're hl- own personal property. and
therefore he brings -uit them The testimony
WA, eiven before Referee Hamilton COZ" 10 No. 40
Broa way William B. Hor1hower attended 70 Tho ia
rf- X The general creditor, or Receiver Davies and
Rgbit 6. Green presented Nr. Gc'dva's grievance
to- ms effect: In October, II - MI
G,. directed Grant ward purchase
300 shares " American Cable r.. rlph stock and 800
ssorps NJ Western Union, AMI We them $50 other
shares ~ the same stock margin. They reported %
him that thcy had purchased the shares Ia January
.- Do directed them To purcna-e Texas and Colorado
improvement scrip OF the nominal value T3o"oo, tni
for which they paid only 900. He deposited WITH
niou, I'D Margin f5r tas 100 other shares Of cable
stock. In October, 1s3j, thy called On him
for mole margins. aud lie gave them
three first mortg4-e bonds Of the Central Park
north AID Es-t River Rar''d. known as the b Eii.-
road OF the par value of $1,000 ou' 0f me tcuai vauc
-
and Dc deu' cl'r 10 10 ,,i ~ bo"ie.i orsr 80
bi,o Il h- since turned thai the report Il purchases
of cable and Western Union STOCK were entirely hc'l-
tou-. They bought no5ulAs Joe nh mn a @A,ebli
ior ther own pI0t thc shares which MI 'to"l"ih haI
% a. mn trru ~ margin Two hundred snare, o the
abc stock were rehy potue aed tn LnlItT Co., ana
ON Atril 25 l--i L2diaW ~ 60. Soid them oul Iot
$1,000. Assuming that IN 3ui lot ouy tue cloe
Ward expended for NJ. Goodwin Wa- No'oVo or tle
p 4 ryC A Cd II
~ Eo , In yyho-e p,sses,Iou they $ III continue.
t No. i,,ni, Of the Bet Railroad we're hypothecatcd
ith the Union Trust Company on Way =, AZ part or
loan from that com pauy II supposed that the Union
,.t COMPANY ,ti held them, bG it had been a-cer-
tautd that tcy disposed o. them ~ s'he way. IN CT
tgr,fe. or the Texas and Colorado Improvement Com
.ur are u in the hands Of tle receiver tnd We bOd
bf tbev 9Igbt 10 zoe rcurn,dto Mr. Goodwin. the whole
I,,'p ~, ,bc sock BY Laidlsw & Co. At the
tnc N the failure Mr. Goodwin had also el'J- 20 Oh
tI G"odwin n his testimony corroborated all the
above statements detail lhr reports ~ =" me pnr-
Mr. smith or by Ferdinand Ward TIE had never gwen
mort rqdr ~ from rime to time II was represented
mt they carving them. .. NJ,
George spencer formerly 'd-aitt %, v'""t q" ar,
test lied A. 10 certain eItreS III iher FuGer, II iy
sock had been pun, based by OF on account 81 tue Hiu
~ thc usual course o business hr N'.l. Alp' y. ~.
Tan y0u tc Dy ref fen'r 10 tlr-A ',.- "letier "h
thc ri q October Is, so shares o american CaHe
gr ph soc actually purchased by THE hrh Tor the
account Of Nj. GooawnT al
No Zach -tocS came n.-o the oface.'
DID gou ever have any conversation with etA'r or
the partner with reference 10 the alleged purchase oil
these -harrsP'
hen We collected our Western Union DIVIDENDS W.
went through fhr lric'r- o. hnd ouf ~ Nh m tley o.
from nr company. went 10 Mr ward ana t"d MN
VA short Oh iAr giles and pointed olt lIes entries
o NJ toodwn'-. IL told me that that stock was no.
bllignt and that had you. short of 10 90 NJ G01cw
be rod 90 charge biz nccout Tor the hVdchls ana
give Mr.. Goudsin credit for II, which has been
dome from that time 0u."
IL appeared from Mr.. -pcucers testimony mar MT.
Coodn', dealings with tar firm were & % 90 tue name
al Fsri naad Ward until January /, l-SS when TIE &c
count Wa. transferred 10 Grant Nlid
Tic hearing viii be- cOnnd-t Oh wednesday at II a H.