Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1884-05-11
The Grant & Ward Failure Larger
Than Was Suspected.
IT Is TH;uaHT THE FAILURE WILL
EXCEED slo,ooo.ooo.
Inquiries in Regard to the Financial
Condition Of Jay Gould.
A RUM0R THAT JAY GOULD
HAS GONE UNDER.
He Gives Information that is
Not Information.
JOHN L. SULLIVAN KNOCKS A
MAN SENSELEsS.
ESPECIAL TO THE sESrIsEL.I

e
WASHINGTON, May 10.-Senate - The
chair appointed as visitors to the mex
annual examination Of the Naval Acsd.
envy Senators Miller Of California and
Pendleton.
Farley presented a concurrent resolu'
ton Of the Legislature of California, rela'
tive to the appropriation already made by
Congress for the Improvements of the Sac
ramento river, but which, according to the
Secretary of War, refused to permit to
be expended, on the ground that the
amount of debris constantly floating in
the river makes the expenditure Of
money useless. The resolution urges tna
expenditure of the money. 1t was referred
to the Committee on Commerce.
At q few minutes before 1 o'clock pre-
ceedings were suspended to permit the
attendance of Senators at the un-
Yelling of the statue Of Chief Justice
Marshall. A large number Of citizens
assembled at the capitol grounds this
afternoon to witness the ceremonies OF
the unwilling of the statue. The statue
is a seated figure of bronze, heroic in size.
1t rests upon ar oblong pedestal at the
Fort Terrace stairway, upon the west front
of the Capitol, at the union of two wide
walks which lead to Pennsylvania and
Maryland Avenues, respectively. Its face
is to the west, overlooking a half-dozen
acres of the open lawn which intervenes
between the terrace and the Botanical Gar
dens. For the occasion q platform had
been erected upon three sides Of the pedes-
tai, upon which are placed chairs for the
convenience of 1900 public men and
others. who had been invited to take part
in the proceedings.
House The Committee on Judiciary
concluded the consideration of the general
charges Of incompetency against Chief
Justice Axtell OF New Mexico. The COM
mittee resolved that the ex parte and record
evidence tended to show ineompetency on
the part of Judge Axtell, but as his case
was before the Executive, nothing should
be done by the House of Represent stives.
Collins was directed to give q favorable
report on the resolution proposing an
amendment to Article XIV. of the Constitu-
ton. The amendment consists OF insert
ing the word nativity" and makes the
~ 5CbeAO4 AC6d A5 AOA4OHbs II A1kAb VI
citizens OF the United States to vote shall
not be denied or abridged by the United
States, or an account Of nativity, race,
color, or previous condition Of servitude.
GouId's Financial Condition.
New YORK, May 10.-Inquiries, directed
from Chicago, reached this city to-day in
regard to the financial condition of Jay
Gould. AS nothing is heard in New York
except such inquiries, Gould was sought
and an explanation requested. Gould
said ''This question is not the only one
Of the kind asked here to-day on Wal
street. The news agency yesterday set
aioat the statement that the Union Pa
ciic would pass the July dividend. This
was done as an Offset on purpose to infu-
ence the Union Pacific stock. There was
not even q meeting of the Union Pacific
Directors. This morning it was announced
on the street that there would be an attack
on Western Union and Missouri Pacific in
pursuance of this laudable purpose. This
is the information which your inquiry
brings out. 1t was telegraphed broadcast
over the country that l have received
numerous dispatches inquiring into the
truth of the statement that I was in fnan-
cial difficulty. II is needless to say there
is not q word OF truth in it. The whole
purpose of the rumor was to create demon
alization in the market, 30 that purchases
could be made by heavy buyers at reduced
figures. / am inclined to think" said
Gould, with q twinkle Of the eye, and
glancing towards the stock indicator,
that they were disappointed. Both the
stocks aimed at are firm, and my informa-
ton is that the buyers are strong men. .
An intimate friend of Gould informed a
reporter that he had recently given sub
stantial aid to many who were crippled by
the late troubles in Wall street, and ne
had been q large bidder to-day. He pro-
nounced the story Of his financial difficulty
as a ridiculous invention.
The Grant IL Ward Failure.
New YORK. May 10.-The suspicion
grows that the Grant & Ward failure is
much more serious than at first suspected.
A well known member of the Stock Ex-
change to-day said: For four or five
months I have heard rumors OF transac-
tions CT Grant b Ward. I do not think
$4,000. 900 by any means an extravagant
estimate Of the liabilities Of the firm. NV
belief is that they exceed $40, 600, 600.
When the failure was announced, / said
it would be the largest Wall street failure
ever seen, and I am now more firmly con-
WINGED of this than ever. What the assets
can be no one knows, but probably they
will be very small, and the disparity In
the figures will undoubtedly cause sur
prise. A clerk of Grant 4 Ward said
the amount Of the liabilities will undoubt-
eddy be large. They are discovering new
business every day. Yes, / know the
names of some persons caught. but
cannot give them. Some gentlemen
are in for $500, 900, and others for still
larger sums. OF course Gen. Grant and
son have known Of these transactions. but
I don't think they are fully aware of the
large amount involved. They have been
led on by Ward. and will, of course, lose
very heavily, The Marine Bank beean suit