The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-10
While Nothing Positive Is Known, 1t Is Be
heved the Liabilities Are Not Less than
Eight or Ten Millions,
Attachments Against Mr.. Wards Per-
SOnal Property and Effects,
And the Broker Only Escapes Arrest by a
Blunder Of the 0fficers-Mr. Jones Says
the Grant Trust Fund Is Secure.
GROWING MORE SERIOUS.
Belief that the Liabilities VIII Exceed
Ton Million Dollars.

A Belief that the Liabilities VIII Exceed
Ton Million Dollars.
New YORK, May 9-Suspicion grows that the
Grant 6 Ward failure is much more serious than
at first suspected. A well-known member of
the Stock Exchange to-day said: For four or
five months | have heard rumors of the queer
transactions of Grant & Ward. do not think
So, O000UO by any means eXtravagant esti-
mate of the liabilities of the firm. My belief is
that they exceed $4,000, 900. When the failure
announced / said it would be the largest
Wall street ever saw, and am more firmly con
vinced than ever of the truth of my estimate
What the assets can be no one knows, but they
are probacly very SMALL and the disparity in the
figures will undoubtedly cause surprise"
A clerk of Grant & Wards said: The amount
of the liabilities will undoubtedly be very large
They are discovering new business every day
Yes know the names of some persons caught
but cannot give them. Some gentlemen in
for 100000, and others for still larger sums"
William G. Smith, the Stock Exchange member
of the firm, said: Il do not think the statement
of the assignee will be ready until the latter part
of next week. l don't think the amount of the
liabilities will reach $4,000 600 although that is
matter of which we have no knowledge. The
figures are all gossip, and are, 1 think, extrava-
gantly large The railroad companies which re-
ceived loans on securities which have been
transferred to other persons are amply
protected, and will lose nothing. The
losses will fall chiefly upon individuals who
have invested money with the firm. This busi-
ness was conducted by Ward, of course, Gen
eral Grant and his son have known of these
transactions, but L do not think they were fully
aware of the large amount involved. They have
been led on by Ward and will, of course, lose
very heavily"
Fred Grant when interviewed, said he was
looking for employment, having nothing to do
now II would depend whether anything was
saved from the wreck whether he went into bust
ness for himself.
The Marine Bank has began suit against Fer
dinand Ward GO recover 800, 600 the amount of
count An attachment has been granted against
the house and personal property of Ward in
Brooklyn, and the sheriff ID in possession.
ATTACHMENTS AGAINST WARD.
The furniture and all the effects in the resi-
dence of Ferdinand Ward of the wrecked firm
of Grant & Ward have been attached The
Brooklyn Eagle says
persons passing along Pierrepont street this
morning were startled to see two well dressed
men grasp the head of q horse attached to q
coupe and order the QrlVef 10 SCOp. many
thought they were to witness a highway rob
berry, but they were mistaken. The men were
detectives, and the inmate O the coupe was
Ferdinand Ward. The detectives produced pa
pers from their pocket but evidently could not
find the one they were i'll search of. One OF the
men said: Mr.. Ward, you are our prisoner,
and it was when Ward asked for proof of their
authority that the search for the war
rant was begun. troubled look over
spread the countenances of both men,
nd tba elnta Of t11TO
and the bundle of papers they carried was ex-
amined about seventeen times, to no avail They
gazed disconsolately after the coupe as Ward
was rapidly driven toward the New York ferry.
Ward had not been out of his house more than
thirty minutes when a deputy sheriff arrived
with writ of attachment for the furniture and
other effects. AS Ward could not be served with
the paper, it was nailed on the front door and
excited great curiosity The deputy made an
inventory of the articles in the house. while the
family commenced preparations TO depart The
house is elaborately and eXpenslvely furnished.
The Wards have lived in the house about five
years, and four weeks ego their only child was
born. The babe was chrstained Ferdinand
Grant Ward, after General Grant. The refuge
of the Ward family will be at the home
of Mrs. Wards mother, Mrs Green, No. 81 Mon
roe Place, and thither the dispossessed ones
iourneyed. Mrs. Green is the widow of former
cashier of the Marine Bank.
The suit in which the attachment is issued is
brought by the Marine Bank against the firm Of
Grant & Ward, and General Grant is made Co
defendant The suit is for $700O O0O
GENERAL GRANTS FORTUNE SECURE.
George JONES' of the New York Times, says
General Grants fund of $3.50, OOOis absolutely
safe. Hitherto we have paid the interest an
nually, and the 1st of May of each year has
found the General in possession of $l5, 140,
interest in full on the investment
Hereafter we shall pay him quarterly
not only because he needs the money
do mt hot aalca
shall lay hands on it. l was with Gen. Grant
on Sunday last, and he was in complete ignor-
ance of the impending disaster Other than this
fund, he does not possess dollar, and, more
than that, he is deeply and almost irretrevably
in debt. What he did in Wall street he did for
his sons and it seems too sad that this man,
who has done so much for his country, should be
left in his old age dependent on the nation he
helped save"
"The failure of the Marine Bank will be as com
plete as ever you saw" said Cornelius Morri-
son, of No 81 Wall street, who has been
depositor in the Marine Bank for the last
twenty years. Fish owned five-eighths of all
stock in the Marine bank Fish and Ward have
been into the widest schemes One thing
they were about to go into when this crash came
was to purchase the old Produce Exchage build
by us that will lose all they
have in the world or nearly all. Our neighbor,
John Wood an Irishman VINO has So, 500 depos-
tied there the savings of lifetime,
loses all. I know young business
man just starting in who loses $1,000 deposited
on Saturday, and he will have to give up bust
ness. In my opinion, about all there will
be left when we know it, will be
the safe and The Office furniture. Fish moved
away from the bank over two weeks ago and
went into apartments at the Mystic flats. He
knew the crash was coming, and so did Ward
| Many hard things are said of Fish. A de
positor, whose place of business is within sight
Of the bank, said to a Tribune reporter:
Much comment has been caused by the fact
that Fish had such large number of visitors