New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-09

were given that he would be fully protected In the
matter even If great sacrifices wero necessary Al
the direction Of Mrs Grants property L..
Gsnerai Grant was down town yesterday bpt
William G. Smith of Grant q Ward, salu tnav h ho
had not been at tho office t Is suppoSeu 'ha' To
was in conference with Roscoe Conkhne' his "u-
wiser. ,,. oLor of tina
suspended firm. had his Office with them anu nus
been interested in their operations. When asker
regarding his assignment he replied Il can say
about the matter but had everything with them
and suffer along with Them" r..
Jesse X. Grant, another son OF General uran'.
who made assignment yesterday could NOT no., Dc
seen. He is not partner III Grant " warn, pu; a. ~
is supposed that he has had business relations WIN
them and that his finances have ocen IhVoiVtu III
the same way rs those of Frederick II nave poeh.
Mr. smith said that il was Impossible 20 make
any statement regarding the arms alars;
Charles McNamee, of Davies. Work a. McNamce
said III behalf of MIR. Davies the assignee OF OIans
& Ward that the latter had taken possession IN
the firms assets but had not nau Time W aSooi '"
the condition of matters. -.
Ferdinand Ward sin the city, but did not visit
the Office of his concern lie has placed his affairs
in the hands Of William H. shepard, whose Office is
in the United Bank Building. but Mr.. Shepard sa,u
that his position would not permit MN 70 speaA'
Mr.. Ward was at ls house last evening
fRIR TO PROTECT ITSELf
amectinc of the Executive Committee of the
Nev-York. Lake Erie and Western Railroad was
held Yesterday to consider the relations between
the companv and Grant & Ward. subcommittee
was appointed 20 look after the notes and securities
of the company placed in the firms charge. ING
firm negotiated considerable sums of Erie paper ana
held 81 5000 securities The eAtent u TIC an n
vances made to the company is said 10 DO vi
abont 81 800, 900 and the company wishes 10 pro-
tect the remaining collateral
THE INVESTIGATION IN THE BANK
At the Marine Bank everything presented the
same appearance yesterday on tho day before
The same notices were posted at the side entrance
the same men guarded the door, the same men
Il .t,,tt intn tha
emily the same men and boys pushed and crowded
and scrambled up the steps to read again what was
bulletined Inside the bank the investigation INTO
the condition of its affairs quietly and rapidly
pushed by Bank Examiner Schriba, assisted by the
committee appointed by the Board of Directors and
the bank clerks In the forenoon the directors held
an informal meeting ut which President FISH was
present, but nothing new was Drought up or as,
cussed The proposition that the directors should
nav up the 100000 and consider II as loan 10 the
bank and then resume business was talked over,
but no definite action was taken.
President Fish and Examiner Schri6a positively
ncoule The fow directors who were caught on
Inc Nv" as they left the bank about noon, in
answer TO the question. VIII the bank resuineT
said that matters looked more favorable than on
Wednesday. but that no positive answer could be
About 3 y. m; those who had spoken 80 hopefully
at noon were uncommunicative and gloomy, ana II
was stated that tho examiner had discovered some
things which had complicated matters sO much that
he would not be able To state the result OF his IN
vest gallon for several days instead of doing
to-day, as at first expected.
James W. Elwell and Captain Ambrose Snow
were seen by Tribune reporter at i;3O as they
were leaving the bank and both said that no one
connected with the bank. would give any lntOrma-
ton for the public until to-day
C.sicrck. one of the directors, said
Matters look more favorable the banks resumption
of business today than they did yesterday. and i think
that there H. fair probability that we shall resume
toward taking MP the S7J0,o00 eyertraft ofsGrant
Warl and 20 on. have nearly SOOOoO locked up tleIe
and there are Eve OF us who are reall 10 contribute
100000 toward Iesuming There was MOI te slShtesl
excdse certainly not one which E9uid nold Ma'e h 40,
President Fish 10 close the bank before seeing me al
reciors lie lost his head and acted pre- matuTey when
very roccnl in regard to hi' relations win ward ana
only far 70 pronounce Ward an unmltigaIed
has made u assignment the bank hrst and TO Grant
ward second That Is worth NJ least Sl;2oViVgo as
ward Tor the oyerlraft was only worth SlOoO0O'
ANA where he got Left VIZ in relying on %Sq bsh Fo:e
have confidence IN our ability TO pay 100 cents on ne
dollar 90 al creditors IN any event should not De
mach surprise " The bank resumed on Monday
AMENDING THE CLEARING HOUSE RULES.
Frederick y. Tappen, chairman Of the committee
appointed by the Clearing House Association to
prepare and submit an amendment TO the consttu-
ton and bylaws to prevent bank being victim
lied by deposItor b. checks drawn on it coming
through another baak. will be ready to report at
the meeting of the Clearing House Association to-
day. Mr.. 1appcn said yesterday to reporter of
THE THBrNT
Tho ease ~ the First National Bank. which finds tsct
yctmz 10 the extent of 1900 ny checks drawn
il by Grant \ Ward throu n Tie Marine Bank when
Ferdinand Ward had only 81 200 10 his credit with the
First National. Is the first instance OF the kind IN the
history of the Clearing House. shows what might be
bank to accept Ills check or checks. The amount might
he a.j00COG, and the bank ON which the checks are
drawn WOtd lose the amount unless the BANK through
which the checks pass should make the amount good
The amendments 20 the constitution and bylaws 10 be
ftIt will a %
ASSIGNMENTS By THE FIRM AND ITS MEMBERS.
Shortly before noon, as a result of the failure of
Grant Il Ward. several assignments were filed in
the County Clerks Office. The assignment of
Grant Il Ward, and Ulysses 5. Grant, Ferdinand
Ward, Ulysses S. Grant, jr, and James d. Fish, CO.
partners under the firm name of Grant n Ward" is
made 10 Julian J. Davies. The following are given
Henry Work William S.Warner, Jerome Is. Chahee
Frank T. Wood, Edward l.. Short, +. VI. Wilmer
ding Charles L. Brltton. Ezra A. Tuttle, James q.
Gardiner, and Frederick ID. Grant. The amounts
are not named.
James d. Fish made IN individual assignment to
John III. Morris. IL provides for the payment OF
any obi cation he is under 10 the Marine National
Bank: OF all Liabilities which he ISL under as in
doI,er or guarantOr upon any notes or obligations
of Grant 4 Ward, which were discounted FOR or ut
his request. and upon which he received the pro
cecds by whOmsOe yer held other than the Marine
National Bank; and also all indebtedness incurred
for which he is liable as far as the means Will
permit -.
Frederick ID. Grant made asSignment.tO James
McNainee with the following preferred ere lItors
Henry Shoemaker, New York 90
Cornelius X Garrison, New York .-....-.... 10000 90
Virginia GiCObn, Jersey City. n J........ 10000 90
Thomas H. MedaryIste OF Galeua 1866 81
Mr. BENJAMIN l.. HouOre Chicago. 10000 90
Mary J. CRmrr Jersey ity, J.....;:.;.. 1900 90
Mr. Frederick d. Grant, Morriscwn, y. j.. 5000 90
The assignment of Jesse X. Grant is also made to
James McNamee. Tho preferred creditors are:
Henry f. shoemaker New York y......... $4,000 90
Mrs ia. Hopper Hack 'psack n. J........ $1,000 90
John T. Mason, san Francisco, Cal. 1JOO0 90
Thomas IL Bailey, New York City.......... 10000 90
The assignments are dated May G-Tuesday.
ASKING FoR A RECEIVER FOR GRANT WARD.
About ? p. H. Justice Donohue granted an order
upon an application of the attorney OF the New
York Chicago and st. Louis Railroad Company, re-
oririno Grant A Ward Julian f. Davies and John |