Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1884-05-16

Pal. Az LIS uodCH Ho may Will away Iue
whole"
"How is the fund invested ?''
Gin securities that are perfectly safe,
but in case they should not pay the in
terest the money will be promptly rein
vested"
HAS Mrs. Grant private fortune 20
81 don't know anything about that of
my own personal knowledge, but do not
believe that either Gen. Grant OR his wife
have shilling more than the interest
from the trust fund. Gen. Grant is left
in debt He was too trusting, and he is
not good business man. We all thought
really sad. Something should be done for
him. He should be placed on the retired
list"
YOUNG GRANTS PROPERTY.
A deed dated Feb. %, by which Ulysses
S. Grant, jr. transferred for $50 900 farm
and country seat at Half Way Hollow
Hills, Huntington, L. l., to Abraham FL.
Jonas of this city, was recorded in Suf-
folk county yesterday. In New York
was recorded deed dated May 18th, by
which he transferred to his father-in-law,
Senator Chaffee, for 100000, four lots in
East Fifty seventh street, bought less
than six weeks ago, and mortgaged for
$37 900.
So far as any one has seen, the book
keepers of the firm had little else to do
but attend to the small stock business.
They spent most of their time in their
chairs. No one ever saw the Grant boys
do anything except make themselves and
their friends comfortable about the office.
Ward ran the whole business, and I think
the assignee will find that the more i'm
portant papers of the firm we're carried in
Wards hat. AS far as Strengthening out
the affairs of the firm is concerned,
think no one will envy him his task.
ONE BIG LEAK.
In accounting for the disappearance of
the vast sums Of money received by the
firm, a banker cognizant of their affairs
said that, in addition to paying part of
it back in the shape of dividends or inter-
est, at the rate of from 8 to 5 per cent.
month to the people from whom it had
been obtained, they had to pay large COM
missions to number of persons who had
been instrumental in inducing other peo-
pie to invest money in the blind pool. OF
late, it is said, some of these persons ap-
parently discovered the real nature of the
operation, and consequently insisted upon
exhOrbltant commissions. 1t is stated on
excellent authority that within a month
one of these skirmishers received $500 900
for his services.
It was learned yesterday that Mr.. F ish
refused to assent to the agreement of the
other members of the firm, to the effect
that each partner should draw out So 900
a month from the profits and leave the bal
ance Of them as a working capital. He in
sisted upon withdrawing his full share of
the profits every month, and in cOnse-
quenee drew out in 1883 about $500, 600.
Whether he knew the real nature of the
Jn IooC mot hO
known. He has at different times con-
fded to some of his business associates the
fact that his firm was doing remarkably
profitable business in connection with
Government contracts. Ward, it is said,
agreed to the amount to be Withdrawn by
each for current expenses from month to
month. .'It makes no difference whether
he did or not" said one gentleman, ''be-
cause he ran the business, and, as the re-
suit has shown, might at any time have
taken everything there was in the Office. [
do not believe the books will begin to show
the transactions of the firm.
THE CHIEF OPERATOR DWELLING.
Mr.. Middletown went to Wards house
in Brooklyn and went through every room
in the house and made an inventory of it's
contents. Then seals were affixed and the
Sheriff and his assistant and Mr.. War
ner's agent made themselves comfortable.
Last night they were the sole occupants
of one of the handsomest houses in Brook
Ign. The basement contains enough fur
niture and kitchen utensils to furnish
cottage. The hall on the first floor is
tiled, and handsome pictures hang on the
walls. On the first floor are the parlor
and dining room. The parlor floor is COW
cred with lowered velvet carpet, so soft
and thick that the feet sink into it.
The dining room floor is of hard wood,
with profusion of rugs and costly skins.
Sofas and divans, tete-a tetes, bookstands
and hassocks occupied every nook of the
room. Over the cabinet mantels were
ranged brackets for bric-a- brac, and they
were crowded with curios. Statues were
grouped on the manJels, and the onyx CEN
tire table was Uttered with handsome
books and knick-knacks. Bear and other
skins we're piled in the corners, and the
walls were covered with pictures. Twen-
ty-seven oil paintings hung on the parlor
walls, and there was an equal number in
the dining room. The rooms up stairs
are furnished in an equally expensive
style. Rosewood and ebony furniture is
in all the rooms. Mrs. Ward, it is said,
removed on Thursday night valuable
piano and some other things, presents to
her. 1t is said that Mr.. Wards horses
have been taken from the stables.
Mr.. Ward is quite unwell,' said his
brother.in law, Mr.. Green. HE has been
at his Office all day, and is tired out. He
is now in his room. here at my house. and
will see no one but his most intimate
friends, many of whom are constantly
calling upon him."
Judge Donohue has appointed Alden S.
Swan receiver of the Globe Mutual Life
Insurance Company III place of James D.
Fish, who has resigned. The resignation
was presented by Deputy Attorney Gen
eral Post, accompanied by petition
stating that there are about $500. 900 OF
the receiver, and that. in view of the pres
emit financial complications in which Mr..
Fish is involved, it would be we'll to &C.
cept his resignation.
The report that his financial troubles
had made Gen. Grant ill was denied at his
house last evening.
WARDS CHECKS.
The stubs of Ward IS check book give no
record of what these cheeks were used for.
1t has since been discovered that one of
them was for $500, 900. and drawn to the
order of the Buffalo, New Y DIRK and Phila-
lelphia Railroad COMPANY, which had just
pledged 100000 of its general mortgage
bonds with the firm. The bonds were i'm
rehypothecated. Another check |
was drawn to the order of VIM. II. Van
derbilt for 1000, and was given to that
gentleman in return for his check for
similar amount on the Chemical National |
Bank. The check received by the rail
road company was certified and passed |
through the Clearing House the day the !
bank suspended, but Mr.. Vanderbilt did |
not get his check around soon enough. !
The amount for which the third check |
was drawn and to whose order cannot yet |
DO learned.
HOW THE CRASH CAME.
AS an example of the methods of the