The Evening critic. [volume] (Washington, D.C.) 1881-1885, 1884-05-26

WARDS PROMISED STATEMENT.
HIS Affidavit in n Suit That Hts Con-
trncts Were Fictitious.

tEhCtb WeEG ElcthttouSs
Ferdinand Ward has improved In health
since his incarceration in Ludlow-street jail.
Ho attributes the change to the rest and quiet
OF the jail and his freedom from tormenting
creditors. He was visited Saturday by his
wife, his brother, W. 8. Ward, his brother-in.
law, Mr.. Sidney Green, his lawyer, W. II. shep-
herd and Mr.w. q. Smith, partner In the nrm
OF Grant Il Ward. Mr.. Ward authorized the an
nouncement that neither no nor his brother
would have any statement TO make for three
or four daye, but at that time he would pub
lish statement. He said; 81 can assure the
public that IL Is my intention to bring TO light
every fact in relation to my business transac-
tione, and when 1 do 30 II Will be backed by
evioence that can bo proved beyond doubt.
But until have fully prepared myself had
What is equivalent in some respects to a
statement is contained In Wards anidavit 20
the writ OF Receiver Julian T. Davis against W.
$. Warner, in which the Court has enjoined
Warner from disposing OF any OF the property
he got from Ward or from his arm. In his
nal liabilities OF Grant n Ward are many mil.
lion dollars In excese of their assets, and that
their actual liabilities are several million
moro than their assets. Then he says.
"For long time prior to its suspension said
flrm was insolvont, and known 10 me to be In
solvent. During said period carried on trans
actions with various persons for the purpose
OF obtaining money, In which, In substance,
represented or intimated that or my said
flrm had opportunities TO employ money and
make large profits thereby in short periods OF
time in connection with Government and city
contracts, and mining and other speculations,
by means OF which / obtained from various
persons loans or advances OF money upon
agreements that my said firm would repay the
came with additional sums called profits at
short periods OF time, which so-called profits
were usually percentages upon the
amounts advanced, equivalent 10 In
terest at various excessive rates, varying with
different persons from 2 to 20 per cent. o
month";"
on these transactions, no says, Warner paid
him about $6,O00000, and he paid Warner
about SLSOO,OCO, and when the firm sus-
pended Warner held similar contracts pur-
porting to show that tho firm owed him more
than $2,600,00O. He says that q short time
after tho transactions began Warner received
back the entire advances he had made In such
titious profits to be reinvested until he deyol.
oped q large apparent indebtedness to himself
Then Mr.. Ward says;
"0n several occasions applied 10 Warner
to accept 2 per cent. a month as profits, Instead
OF 90 per cent, q month, but said Warner re-
fused to do so, threatening to draw out the en-
tire amount claimed to be due him unless
further similar transactions were carried
on on tho basis OF profits OF 20 per cent. a
month";"
Ward frankly admits that there were no coz
tracts, and that there were no methods of 10.
vestment. He says that Warner never inquired
what the contracts were or made any attempt
to ascertain anything about them, and had his
contracts drawn so as not to show the amount
OF profits paid.