Savannah morning news. [volume] (Savannah) 1868-1887, 1884-05-11
A NEW FUND FOR GRANT.
GOULD PROPOSES TO HELP TIE
GENERAL OUT.


No Statement of the Assets and LiabiIi-
ties of the Broken Firm to be Made
for Several Days-The Northwestern
Car Company of Minnesota Embar-
/ rassed.
NEW YORK, May 1o-=The Telegram
says: "a movement has been set on foot
! by Jay Gould and other friends of Gen.
Grant TO raise fund with which 10 oplace
the General on his feet.'
Ferdinand Ward was the only member
of the firm of Grant IL Ward with the eX-
eeptiOn of W. c. Smith, the croker mem
Der, who visited the office Of the firm this
morning. He went at once tC his private
office, where he remained in consultation
with Mr. Davies, the assignee and Fe-
ceiver. He refused to say anything. The
legal complications have interlered con-
siderably with the work of inve tigatiOB,
but in the end the appointment of a re-
ceiyer viii be of benefit, as the affairs OF
the firm can be more readily Strengthened
ont. kuIG0ns were again current this
morning that Mr.. Ward had been- ar
rested, but the only foundation for them
was the fact that wherever he goes he is,
followed by detectives. 1t is probable
that no arrest will be made until the
statement of the assignee is ready, unless
MIR. Ward should in the meantime at
tempt to leave the State. Gen. Grant
was not at the office to-day.
Col. Fred. Grant said that he had no
news to communicate, and that he did not
know how his affairs stood, but that
he feared that ne had lost all he possessed.
There were few visitors at the Marine
Bank and the excitement in the neIghbor-
hood OF the building has died out. The
windows are still shut and closely
guarded.
Examiner Serbia was at work all day
to-day at the Marine Bank. Ia the after
noon he sent for Ferdinand D. Ward, of
the firm of Grant Il Ward. Mr.. Ward
walked down Wall street followed by
two men, said to be detectives, and had
three-quarters Ofan hours interview with
Mr.. Serbia, after which he returned to his
Office. Mr.. Serbia said that his report
would not be ready ~until Monday, and
that he would not make it public, but
would send it to the Comptroller of the
Currency.
At Grant & Wards office it was said that
no report or statement of the condition
of the firm would be given out before
Tuesday or Wednesday. Receiver Davies.
of the firm OF Grant Il Ward, was given
permission to-day by the Supreme Court
To surrender to claimants such securities
as are in his possession and which with
out dispute are shown to have been
pledged with the firm as security for
loans, upon his receiving the money
loaned.
ONLY TEMPORARILY EMBARRASSED.
ST. PAUL, MIMI, May 1O.-Director
Seymour, the former head of the firm of
seymour, Sabin & Co., which was merged
IN the Northwestern Car Company, stated
tonight that the liabilities of the company
were $l,000,000 and the assets $4,000 900.
He said that the company was being
pressed by number of creditors on obli-
cations which they had expected to meet
with money secured from the East,
that the suspension of the Marine
Bank and the failnre of Grant a.
Ward had so shaken confidence in credit
that they had found it impossible to Sc
cure the expected advances to prevent
attachments and the tying up of their
property. The company had resolved to
have a receiver appointed. They ex-
pected to discharge all their obligations.
ana, after temporary embarrassment,
to resume business as a corporation. 1t
is understood that All. Brown, of Still
water, Minn., has been selected as the
receiver. The Northwestern Car Com
pany had great set back in the peniten-
tiary hre last winter.
FAILURE IN ARIZONA.
TUCSON, May 1O.-Hudson 81 Co. bank
ers at Tombstone, made an ASSIGNMENT
ldsb evening TO >. Il. stiles. The firm is
composed of Charles Hudson and james
Toole. Three assignments were made,
one by the firm and one by each individual
member. The failure is attributed to the
depression of business and the stOppage
of the mines at Tombstone, bank at that
place having drawn from the firm $l20. 900
per day on account Of miners withdraw
ing deposits. The assets are $3.50, 900 and
the liabilities $500, 600. If the mortgages
held by the firm can be realized on these
there Will be surplus of assets.
A CAR COMPANY OFF THE TRACK.
SALTWATER, MINI, May 1O.-The
Northwestern Manufacturing and Car
Company, of StillwaIer, Minn., of which
Senator d. NJ. SabTn is President. failed
to-day. No statement of liabilities or as
sets have been made. Mr.. Sabin is Chair
man OF the National Republican Commit
tee.
FISH DEALERS FAIL.
Boston, May 10.-Barna S. Snow &
Co., wholesale fish dealers, at No. 176 At
lantic avenue, have made an assignment.
They were embarrassed last February,
but made an arrangement with their
creditors without publicity. The second
payment under that arrangement is now
due, and being unable to meet it they
have assigned. Their liabilities are from
$50, 900 to $500. 900.