New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-10

property was unaffected. Any decline was not due,
to his mind to the fact that the road had balance
of moneys in its favorat the Marine National Bank.
Mr. Spencer added:
President Jewett has made official statement that
$4,000 Of the cOmpapys money i IN the
of the safety of the funds unavorsbe eject is to be
anticipated fon any possibility that the interest the
June interest the second mortgage bonds will not be
PAID No meeting tae directors regarding the passing
OF the June interest has been held and none will be held
for that purpose Az sure as the world goes around and
rises June 1, the Interest the bonds will be
paid.
Regarding the deposit Of the funds of the road in
the Marine National Bank, Mr.. Spencer said:
This came about in the usual course of business rs any
cne woald make deposits IA bank considered safe and
Bank beyond that
A RECEIVER FOR GRANT 4 WARD.
Julien I. Davies was appointed by Justice Don
ohue yesterday receiver of all the partnership
property and assets of Grant & Ward. IN the suit
of John III. Morris against the firm and Julien L.
Davies as assignee. K. N. Bangs represented MIR.
Morris and Ashbe Green and Horny j. Gull
len appeared for the firm and the assignee.
The receiver filed bond of $4,000, the sureties
being Thomas Denny and Bradley Martin. Mr..
Davies is directed by the order 10 make and file an
inventory of the property while the defendants
enioined against interfering with ~ Hamilton
Cole was appointed referee 10 take account OF the
assets and TO report TO the Court the creditors OF
the firm aud all persons claiming an interest In
the property, :. a.. ,;. .rooo. tbo,
Mt the time of the assignment OF Grant
& Ward, Mr.. Morris had become the owner OF Mr..
Fishs interest in the firm, and that by virtue
thereof he had become tenant IN common WIN
the other partners. Mir, Morris alleges that when
the assignment was made there was in the posses
sion of the dependents large quantity OF
property which they held in trust as balees,
OF for other persons, the legal title to which
did not pass 10 the assignee but the loss or mlsal-
preparation of which would create liabilities ?eanst
the firm TO which the estate of MIR Fish might ee
compelled TO contribute. The partnership estate
was therefore. without custodian MI. DaDi i'a'
had refused to allow M MS Of 70 S seeTSSD @
Mr.. Morris therefore asked Judgment that
The assignment of an the ea eF 70 transfer H
as against the persons interested in the property or
as against Mr., Morris himself or MIR. Fish. >,
A receiver was accordingly asked for, that all
persons interested in the property might appear,
and that Mr. Morrls's interest may be aseert3ned
and separated from those Of the defendants Its
and paid over to HIM, and the interest oi Tue
Others likewise determined.
&. w. Bangs obtained an attachment in the
Supreme Court, from Justice Donohue for 800
aud Ferdinand Ward IN suit of the Marine Ma
tionsl Bank against Grant d Ward TO recover
100000 The complaint. set 1oIth tha t on ho Mdy
and the bank. loaned, advanced and do pad pad
out on the firms account the sum of $1,000,
which sum the finn promised to pay on demand;
Tins has not been paid, although the demand had
been made. and judgment against the hrm was,
therefore. paved for. The affidavit of Ambrose
suoMs ColiopOidtihS thO NVADi"A"'i
the document.
THE SELECTION OF Mr.. DAVIES.
The selection of Julien L. Davies as assignee of
Grant * Ward has been much criticised by some of
the large creditors OF the firm. 1t is objected that
his relations if not direct at east indirect,
with the concern aud other of its creditors may
tend to prejudice him in handling the assets for the
best interests of all equally. Mr.. Davies is the
senior partner il Davies, WORK q McNamee OF
which James Ii. Work, heavy creditor d h Is
on intimate terms with the Grant family. Con
ferences were held yesterday to consider, whether
smother person tho cou nrnci D SiSsatiUfac.
ton with him being on the part Of
the Nickel Plate road and ex-senator Chance, OF
Colorado Ii was said finally that the Mckel PIate
Tyonld not give any trouble in the matter and would
not make objection to the appointment of Mr.
Dawes as receiver IN the suit before Justice DonO-
hue against Grant 4 Ward. Mr.. CAahee is not
known 10 have had his objections removed.
friend of the firm said that Mr.. Davies did not
solicit the position, and his friendship with the
Grants would IN WISE AFFECT his official action.
Ii was also remarked thai az the assignment was
voluntary. Mt. Davies could not be removed
GENERAL GRANTS TRANSFER or PROPERTY.
The friends of the Grants still insist that they are
not implicated in the irregular transactions of the
firm discovered. Mr.. Ward was the only member
Of the firm who had authority to sign the firms
name and he was trusted implicitly; the moro so
because of the impression that his ventures
were guided largely by Mr.. Fish Sympathy IS felt
for General Grant, who has transferred his
property to William H. Vanderbilt. to protect
him on the worthless cheek OF TIoo'VVio
own. The Generals transfer includes two houses
in Washington, a house in Philadelphia aud farm
of considerable size in the suburbs of st. LOUIS.
Mrs Grant is also said to have transferred he"
property to Mfr. Vanderbilt. II includes the cot
tage at Long Branch and her house. No. 8 East
SlXty-siXtb-st friend OF the family gave TINS
version Of the transactions which these sacrifices
are intended 70 protect:
Mr.. Ward requested General Grant TO Obtain $4,000
hal
ugh be in Little trouble on Monday, which tle use OF
that T SoT Sa d'f the '1 S Poc sound These
REPRESENTATIONS were repeated nnocGntly to 9Ir
Vanderbilt by General Grant The formers
check was received last sunday; on Monday
of the Grant boys Gaed oT az ,.t, M ,hc
eheck of Grant Ward on the Marine Bank The Grants
were indersruck when they learned that the check ad
been dishorored; the General cOnGratuating MIN
self on tIe morning failure that III any event his
friend was secured When he learned tne con
10 Mr. vanderbilt told him Of Wards
Receptions and him that the debt would be pro-
ieced he had to sacrifice his property and even If Mrs
Grant had 20 give up all OF hers
Colonel Frederick d. Grant said Yesterday: 49,
cannot say what the amount OF the Liabilities o. the
Ann viii be. Ihaye turned over all my claims against Ing;
ihe firm my assignee Mr.. McNamec who says he VIII
sSq sn1eme 4nS of my T as ' Il had invested
that can 10 work At something else 40 MOI kno W
whe teT shall remain in Wall street or go ir 70 buse IS
may go Into business myself, but just at present am
looking for something 70 do.
Fiftv-seventh-st east of 1enth-ave, has been made
by Ulysses s. Grant, jr., to Jerome b. Chatee Tor
consideration OF 100000.
The following transaction was recorded in the
CLERKS office of the Suffolk County Court yester-
day: L. s. Grant, jr., TO Abraham II. Jonas, OF New
York CITY dead OF farm and country seat AZ Half
-way HoliowhilIs town of Huntington dated Feb
yuary % 1854. consideration 100000.
THE FIRMS WILD SCHEMES.
Instances multiply of the deceDtion practised in
che name of the firm 70 carry on the wild schemes
In which interest on profits" were paid to those
who invested in them out of the principal they put
in Mr. Chaiee's deposit oil securities to the
L. occurred from him