The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1884-06-28
GRANT AND VANDERBILT.
The Facts About the Transaction Between
tire Ex-President and the Railway King.

The Facts About the Transaction Between
the Ex-President and the Railway King.
IN. p Cor. 81. Louis Post Dlspatch.l
1t has been announced, upon author.
ity, that General Grant has declined to
receive back the property which he
turned over to Mr.. William H. Wander.
bilt in payment of the loan of $3.50, 00e
made just before Grant e. Ward failed
So much sentiment Is connected with the
personal misfortunes of General Grant
and his attitude toward his creditors
that the Vanderbilt incident is becom.
ing a matter of great interest. The
original story was, that when the
Arm was about to collapse, Ferdinand
Ward requested Ulysses Grant, Jr., te
raise large amount of money, as il
was needed very badly. Mr.. Grant, It
was said, went to several prominent
capitalists, among them Jay Gould,
who refused to lend any money because
the securities offered were not consid.
cred good. This part Of the story has
since been denied by Mr.. Gould him.
self. When matters became desperate,
General Grant was asked to raise the
money on the representation that 1t was
needed to cover heavy contracts. On
the Sunday preceding the collapse the
OK President called at the house of Mr..
Vanderbilt and asked for check for
100000, promising to send his own
check for the amount to Mr.. Wander.
bilt on the following day. The amount
was transferred to Mr.. Ward, and on
Monday General Grant sent Mr.. Van.
derbilt check for the sum he
had borrowed. Grant & Ward failed
on Tuesday. As soon as General
Grant ascertained that the firm had come
TO grief he transferred the deeds of all his
real estate to Mr.. Vanderbilt. The Genera,
had already parted with all his ready mon
ey, and the total amount of property owned
by him was just about sufficient to repay
Mr.. Vanderbilt. The millionaire at ono,
returned the deeds with note expressing
his sympathy for the General, and saying
that the loan matter could stand over in
definitely, as he could not think of accept
ing the deeds under such circumstances.
When Mr.. Vanderbilt was asked about the
subject on the day that he departed for
Europe, he said: "That is a question which
don't think it would be fair for me TO an.
swer. 1t concerns a matter which interests
only General Grant and myself. AS Isaid,
know nothing about the firm or its bus.
mess methods. My relations with General
Grant were of personal nature"
1t Is known that General Grant has been
very much borne down by the whole af.
fair, but he insists upon paying his debt to
M. Vanderbilt. His sons have personally
assumed all the debts which they contract.
ed for the firm, but this was the only debt
contracted by the General. His wife is as
DESTROYS as her husband that the obliga.
ton should be discharged, although it ruins
both of them and leaves them poor, except
from the assured income Of the General.
friend Of the ex.President said few
lays ago that General Grant did not want
mis- property to 60 into the hands Of the re-
eeiver for Grant & Ward, - II would leave
him still in debt to Mr.. Vanderbilt. The
fact that the money borrowed wss sval
lowed up in a day makes him feel his 20
,ition keeniy.