The Abilene reflector. [volume] (Abilene, Kan.) 1883-1888, 1884-05-15
THE LATE FAILURES.


About Grant & ward-Their Liabilities
Said 60 be Ten Millions.
NEW YORK, 10.-The suspicion grows
that the Grant & Ward failure is much more
serious than first suspected. A well known
member of the Stock Exchange yesterday
said: For feur or FIVE months / have
heard rumOrs of queer transactions by Grant
& Ward. do not think SIS, 000, 600 by any
means an extravagant estimate of the liabil-
tiles, and believe they exceed $40, ,o00, 900.
When the failure was announced, said it
would be the largest Wall street ever saw,
and l am more fully convinced than
ever of the estimates. What the
assets will be no one knows, but prob
ably very small, and disparity in figures will
undoubtedly cause surprise" A clerk Of
Grant Il Ward said: The amount Of the
liabilities will undoubtedly be very large
They are discovering new business every
day. Yes; l know the names of some per-
sons caught but cannot give them. Some of
the gentlemen are i'm for $500, 900, and 9TH
ers for still larger sums. The Marine Bank
began suit against Ferdinand Ward to re-
cover 100000, the amount of the overdraftS
paid out by the bank on Wards account of
the attachment granted against the house
and personal property of Ward in Brooklyn.
The Sheriff Is in possession. The Brooklyn
Eagle says persons passing along Pierrepont
street yesterday were startled to see two
well dressed men grasp the head OF horse
attached to coupe and
ORDER THE DRIVER To STOP.
Thought fho, IN a h
way robbery, but they were mistaken. The
men were detectives and the inmate of the
coupe was Ferdinand Ward. The detec-
tives produced papers from their pockets
and evidently could not find the one they
were in search Of One of the men said
Mr.. Ward, you are our prisoner" and il
was when Ward asked for proof of authority
the search for warrants was begun. \
troubled look Overspread the cOuntenances
of both men, and the pockets of each
were turned inside out, and the bundle Of
papers they carried was examined about
seventeen times to no avail. They gaZed
disconsOlately after the coupe as Ward was
rapidly drawn toward the New York ferry.
Ward had not been out of the house more
than half an hour when deputy sheriff
arrived with a writ of attachment for the
furniture and other effects As Ward could
not be served with the paper it was nailed
OIL the front door and excited curl.
osity. The deputy made an inventory OF
the articles in the house while the family
commenced preparations to depart. The
house is deliberately and extensively fur
niShed. The Wards have lived in the house
about five years, and four weeks ago then
only child was born. He was christeneG
Ferdinand Grant Ward, after Genera.
Grant. The
REFUGE OF THE WARD FAMILY
will be the home of Mrs. Wards mother
Mrs. Green, 81 Monroe street, and thithei
the dspOssessed ones jOuneyed. Mrs.
Green is the widow of former cashier Of
the Marine Bank The suit in which at
tachment is issued and is brought by the
Marine Bank against the firm OF
Grant & Ward, .and General Grant
The suit is for S7OO,OOO. George Jones
of the New York Times, says:
General Grants fund of S25O,OOO is abso
lutely safe. Hitherto we have paid interest
annually on May L. Each year has founG
the General in possession of SIS, 40 inter
est in full OIL Investment. Hereafter we
shall pay him quarterly. Not only because
he needs money, but because we do not
mean that anyone else shall lay hands or
it. | was with General Grant on Sunday.
and he was in complete ignorance OF
the impending disaster. Other thar
this fund he does not possess a dollar, and
more than that he is deeply and almost
irretrieyably i'll debt What he did in Wall
street he did for his sons, and it seems toe
sad that this man. who has done SO much
for his country, should be left in his old age
dependent on the Nation he helped to save"
Julien I. Davis has been appointed receiver
of the assets of Grant & Ward, the suS
pended brokers. The Tribune says many
hard things are said of Fish. A depOsitOI
whose place of business is within sight of
the bank, said to Tribune reporter: Much
comment has been caused by the fact that
Fish had such a
LARGE NXMBER OF VISITORS
in his private ROOMS over the bank, espe
cially, in view of the character or many
them. Il have" said he, ''seen six of seven
persons, such as l speak of, go to his room
in one day" Much sympathy is felt fOr
General Grant, who has transferred his prop
erty to w. II. Vanderbilt to protect
him on worthless checks for $780,
900 accepted by him in return
for his own. The Generals transfer in
cludes two houses in Washington, house
in Philadelphia. and a farm of considerable
size in the suburbs OF st. Louis. Mrs. Grant
is also said to have transferred her property
to Vanderbilt 1t includes a cottage at
Long Branch and her house East Sixty
sixth street. Instances multiply OF
deception practiced in the name of the firm
to carry on wild schemes in which interest
on ''profitS" were paid to those who invested
in them out of the principal they put in. II
is asserted by General Grants friends he
supposed up to the time of the collapse he
had to his credit in the firm profits
of S2.4OO, 900. Ward lived in a style that
would require larger income than S36, 600
year. A person who ought to know said
Fish insisted on receiving his profits" and
drew out of the firm S5O0,OO in 1883 and
$500, 900 this wear.