The Indianapolis journal., 1884-05-09
Which Is Speedily Followed by Similar Pro-
ceeding on the Part of the Broken
Firm of Grant & Ward.
The Liabilities of the Latter Firm Said
TO Be at Least Ten Millions.
President W. K Vanderbilt Demanding the
Appointment of Receiver-RumOrs
About Gen. Grants Fortune.
THE RECENT FAILURES.
Mr.. Fish and Grant & Ward Make Assign
ments-A Receiver Demanded.

ments-A Receiver Demanded.
New YORK. May s.-Assignments were filed
to-day, for the benefit of the creditors, in the
county clerks Office, in connection with the sus
pension of the Marine Bank and Grant & Ward.
James D. Fish filed an assignment to j. H. Nor
ris 1t directs payments in full of any obhga
ton he is under to any trust fund or estate for
which he is liable individually or as trustee, pay
ment of any obligation he is under to the Marine
Bank, payment of any liability he is under as
indorser of OF guarantor of any notes or obliga
tions of the firm of Grant & Ward, which were
discounted for or at his request and upon which
he received the proceeds; also, all Indebtedness
incurred for which he is liable jointly with any
other person equally and proportionately, as far
as the same will go.
The assignment of Frederick D. Grant to Jas
McNamee shows the following preferences:
Henry F. Shoemaker, of New York. 1925 900;
Ulysses S. Grant, Of Elizabeth, N. J., So 900;
Thomas B. Medway late of Galena. ILL.,. 81, 566;
Cornelius H. Garrison, of New York. $50, 900;
MaryJ Craven, of Jersey City, $780, Mrs
BENJAMIN L. Honore, of Chicago, $4,000; Vir
ginia c. Corbin, of Jersey City $25 600; Mrs
Fred d. Grant, of Morristown, n j., sc, 900.
The assignment of Jesse r. Grant, also to Jas.
McNamee gives preferences as follows Henry
r. Shoemaker, of New Y ork, $50, G00 Mrs N. A
H.
Mason, of San Francisco, $l5, 600; Thomas H
Bailey, of New York $I5, 900.
The assignment of Grant & Ward and Ulysses
5. Grant, Ferdinand Ward Ulysses s. Grant
jr., and James d. Fish, co-partners under the
firm name Grant & Ward, to Julian r. Davies
was also filed. The names of the preferred
creditors are follows: Edward c. James,
James Henry Work, VIM. s. Warner Jerome
b. Chaffee. F. +. Wood, Edward L. Short, E.
NJ. Wilmerding, Charles P. Britton, Ezra A.
Tuttle, Jas. G. Gardner and Fred D. Grant
amounts not stated.
The Post calls attention to the apparent dis
crepancies between the funds stated to have been
in the Marine Bank on Saturday and those what
proved to be there on Tuesday the day of the fail
ure. ltsays the bank Tuesday had only $780,,
600 cash. instead of 81 450, 900 it was presumed
to have on Saturday, in accordance with the
bank statement If the banks statements are
trustworthy, and the money was there on Satur-
day what became of that large sum of ready
cash between Saturday and tuesday, The clear
ing-house balances did not show the Marine
Bank largely debtor either on Saturday or
Monday.
Director Sierck, of the Marine Bank, SAYS no
receiver will be appointed, and the chances of
resumption are good Mr. Fish was not asked to
resign, but in case of reorganization there Will
be new president and cashier. Checks depos-
tied on Tuesday will be paid, unless there is
an ohsetting Indebtedness.
A RECEIVER A xED FOR.
In the suit brought by the New York, Chicago
e. st. Louis Railway Company against Ulysses
S, Grant jr., Ferdinand Ward, Ulysses s. Grant,
James D. Fish, William c. Smith, Julian T.
Davies and John III. Morris, in the Supreme
Court, Judge Donohue granted an order this
afternoon requiring the defendants to show
cause, on the 18th instant why a receiver should
not be appointed, and also why an injunction
should not be issued; and in the meantime and
f,rf1, nrJap Of .laf
their agents are restrained from interfering
with the partnership assets of the firm of
Grant & Ward, from selling the same,
or appropriating the same to payment
of any debts of the firm without
leave of court The order and investigation
were granted upon the complaint and affidavit of
William K. Vanderbilt, president of the New
York. Chicago & ST. Louis Railroad Company.
In his affidavit Vanderbilt says that about April
r. 1884. the railroad company made is promis
sorry note bearing date that day. where
pay Grant & Ward $5OO,OO6 the note
was to become due January l, 1885 On the
Goth of April the railroad company made another
promissory note, payable to the same firm. for
5000, 900, which note also becomes payable Janu-
ary l, 1885. AS collateral security for payment
of these notes the plaintiff deposited with
Grant & Ward 1,400 negotiable bonds
of the railroad company for $1,000 each,
second mortgage upon its railroad. Wander
bit alleges, information and belief, that Grant
& Ward, upon receipt of these notes and securi-
ties, united these bonds indiscriminately with
securities belonging to other parties, for the
purpose of borrowing money, and plaintiffs
property has become distributed among great
number of persons and corporations, who have,
or claim some lein thereon as lenders
of money security to Grant &
Ward. By thus mingling the securities
become liable to be sold for debts for which they
were not originally pledged TO the firm, and their
identity is likely to be lost The defendants in
the suit Julian T. Davies and John H. Morris,
are assignees of the plaintiff. The company de-
sires to redeem its property from all lawful liens
and claims. Pending the suit the plaintiff asks
for the appointment of receiver for the firm of
Grant 4 Ward to take charge of its property.
NEWSPAPER GOSSIP.