Savannah morning news. [volume] (Savannah) 1868-1887, 1884-05-27
WARD TO MAKE a STATEMENT

lie EApAAl4s W. - w Il NCAh9
Per Cent. a MOnth-Over Seven Mil
lions Went to that Gentleman, He
Savs-The transactions of the Firm to
be Set Forth in Detail This Week.
Early in the day, says Sundays New
York Sun, both sides of Ludlow street Jail
yard are shady, and at O'Clock yesterday
morning Ferdinand Ward, arm-in-arm
with Deputy Warden Herman, walked up
and down one side, while Miss Jones pur-
sued her determined course on the other.
After an hour they all went in, and Ward
and the Warden breakfasted together.
Miss Becky ate alone.
Ward looked much better Yesterday.
and said that he felt much better, and
had slept better since his Imprisonment.
He attributes the change to the rest and
quiet of the Jail, and his freedom from
anxious and tOrmenting creditors. Shortly
after 10 o'clock his wife drove to the jail
alone in a coupe. She spent a half hour
in conversation with her husband and
| then returned to Brooklyn. She was fol-
lowed by Mr.. W. 5. Ward, the brother of
the prisoner. and while he was there Mr..
/ Sidney Green. Wards brOther-ln-law. ar
rived. They stayed but a short time. and
went away on the arrival of W. H. Shep-
herd. the lawyer who has charge of Ward's
! personal affairs. When he had gone Mr..
Ward ate a MONDAY dinner with the
| Deputy Warden and read the papers until
the return of his wife at D. m. She re-
manned until and took supper with her
| husband and the Deputy Warden and
then went home.
In the meantime Mr.. W. c. Smith.
partner in the firm of Grant & Ward. had
arrived, and cOnversed at length with the
prisoner. Shortly after his arrival Dep
uty Warden Herman said that he had
been instructed by Mr.. Ward to say that
neither Ward nor his brother would have
any statement to make until three or four
DAYS, but that at that time he would pub
lish a statement, and would receive any
one who might wish to see him about il.
In the suit by Receiver Julian I.
Davies against W. 5. Warner and others
(including Julian T. Davies as assignee },
Judge Donohue enjoins Warner nom dis
posing Of any of the property he got from
Ward and the money he drew as profits
from Grant & Ward. Ferdinand Ward
backs this suit with an interesting affi-
davit. He SAYS at starting that the nom
inal liabilities of Grant & Ward are
many million dollars in excess of their
assets, and that their actual liabilities
are several millions more than their as
sets. Then he says:
For long time prior to its suspension. said
firm was inSolvent, and known TO me to be
iusOlyent. During said period / carried on
transactions with various persons for the pur-
pose OF obtaining money, in which, IN sub
stance. l represented or lntlmated that / or
my said firm had opportunities to employ
money and make large prOnts thereby in short
periods Of time in connection with govern
ment and city contracts. and mining and
other Gpeculations. by means Of which / OBJ
tanned from various persons lRans or advances
Of money upon agreements that my said firm
would repay the same with additional sums
called profits at short periods Of time. which
socalled profits were usually percentages
upon the amounts advanced. equivalent to in
terest at various excessive rates. VARYING with
different persons from TO 20 per cent.
month.
On these transactions, he saws, War.
ner paid him about $1,000. 900, and he
paid Warner about s.. SOC, 900. and when
the firm suspended Warner held similar
contracts purpOrting to show that the firm
swed him more than S2,505,0O0. He
says that a short time after the transac-
ton began Warner received back the en-
tire advances ne has made in such trans
actions. and then began to leave his ficti-
tiOus profits 10 be reinYested until be de-
velOped large apparent Indebtedness TO
himself. Then Mr.. Ward says:
On several occasions applied to Warner to
accept 2 per cent. month As profits, instead
Of 20 per cent. a month. but said Warner re-
fused to do 50. threatening TO draw out the
entire amount claimed to be due him unless
further similar transactions were carried on
on the basis Of profits Of 20 per cent. month.
Ward frankly admits that there were no
contracts and that there were nomethOds
Of investment. He says that Warner
never inquired what the contracts were
OF made any attempt to ascertain any,
thing about them, and had his contracts
drawn so as not to show the amount Of
profits paid. He gives the following
account Of the memorable midnight trans
fer wrung from him by Warner and Work
on the night Of May 6, after the failure
was publicly known.
William :. Warner and J.. Henry Work
came TO my residence IN Brooklyn and applied
TO me 10 transfer TO " arner all my Individual
property in part payment Of Warmers pre-
tended claim Of more than s2-5o0. 600. ! was
at that time in a condition Of extreme men
tai and nervous prOstratiOn. Work is an at
torney at law. and his firm has for years been
counsel for Grant & Ward. Warner and
Work remained with me several hours on that
evening. uFgiDg me 10 make such transfer.
They said II would make the transfer they
would protect me. and II would not make
the transfer they could not prevent the par
ties whom they represented from taxing pro-
ceedings against me, and that james ID. Fish,
one Of the members OF said firm, had made an
assignment, in which he had taken care Of the