Custer chronicle. [volume] (Custer City, Black Hills, D.T. [S.D.]) 1880-1890, 1884-05-17

New York, May 6.-The Marine Ma.
tional bank and Grant Il Ward, brokers,
failed to-day. The firm of Grant &
Ward is composed Of Gen. Y S. Grant,
James d. Fish, U. S. Grant, Jr, and
Ferdinand Ward. The failure made
certainly the most sensational event OF
the year. Age and youth went down to-
gcther, for the bank had withstOod the
paDics Of 1870 and 1873, and the firm
was one Of the Youngest and most ener-
getic on the street. An interesting and
most painful accident Of the brokers
failure was that il threatened to carry
with it the personal fortune of Gen.
Grant. who was full partner Of the
concern, and who, should the other part
ners be unable to assume its liabilities,
can be held for the $75O,OO0 supposed to
be involved. The news reached the
street at about l:3O, and at that time
could hardly be credited, especially as
several of the banks directors had at
tended meeting, that adjourned at IL
O'Clock, at which no mention had been
made of any such possible catastrophe
Notice from the firm Of brokers that
they were unable to meet their obliga-
tions followed the announcement of the
bank failure like shadow. The opera
tion of the firm led to the failure of the
bank, as was natural, as their relations
were most intimate James d. Fish,
president Of the bank, is, as above stat
cd, a member of the firm, and Ferdi-
nand Ward, Of the firm, was director
of the bank.
May 9.-The furniture and all the
effects in the residence of Ferdinand
Ward, Of the wrecked firm of Grant &
Ward, have been attached. This morn.
ing, on Pierrepont street, Brooklyn, a
coupe containing Ward was stopped by
two detectives, who attempted to arrest
| Ward. The latter demanded their au.
thority, and the detectives, after ran.
sacking their pockets for search war.
rant in vain, let Ward 60. He was
rapidly driven toward the New York
ferry. Ward had not been out Of the
house more than half an hour when q
deputy sheriff arrived with writ Of at.
tachmcnt for furniture and other effects
As Ward could not be served with the
paper, it was nailed on the front door
The deputy made an inventory Of the
articles in the house, while the family
prepared tn depart. The refuge Of the
Ward family will be the home of Mrs
Wards mother. Mrs. Green, 81 Monroe
place, and thither the dispossessed ones
liourneycd. The suit in which the at
tachment was issued is brought bv the
Marine bank against the firm Of Grant
Il Ward, and Gen. Grant is made a CO.
defendant. The suit is for 500, 900, the
amount Of overdrafts paid out by the
bank on Wards accounts. George Jones,
of the New York Times. saws:
Gen. Grants fund Of $250,000 ia abso.
lutelv safe. Hitherto we have paid in.
terest annually on May /. Each year
has found the general in possession OF
$l5,l4l interest in full on the invest.
ment. Hereafter we will pay him quar-.
ter!y, not only because he needs the
money, but because we do not mean
that any one else shall lay hands on it
I was with General Grant Sunday last
and he was in complete ignorance Of the
Impending disaster. Other than this
fund he does not possess dollar, and
| more than that, be is deeply and almost