The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1884-05-10
Grant & Wards Failure I'm.
d~oroStimated,
It Will O. Way Up in the
Millions.
Union League Delegation to
Chicago.
Grant 4 Wards Failure Underesti-
mated.

~4AAAS ~ A~S S~
first suspected. A we'll known mem>
Der of the Stock Exchange to-day
said: "F0r four or five months 1
have heard rumOrs of the transac-
tons Of Grant & Ward. 1 do not
think eight million dollars by any
means an extravagant estimate of
the liabilities of the firm. My belief
is they exceed ten millions. When
the failure was announced I said it
would be the largest Wall street ever
saw and I am more firmly convinced
than ever of the truth of my estimate.
What their assets can be 10 one
knows, but probably are very small
and the disparity in the figures will
undoubtedly cause surprise"
A clerk of Grant & Ward said:
1.-The amount of the liabilities will
undoubtedly be very large. They
are discovering new business every
day. I know the names of some
persons caught but cannot give them.
Some gentlemen are in for $780, 900
snd others for still larger sums"
Mr.. G. Smith, the Stock Exchange
member of the firm, said "Don't
think the statement of the assignee
will be ready until the latter part of
next week. I don't think the amount
of the liabilities will reach SIS. 1000, QUO.
although that is a matter of which I
have no knowledge. The figures are
all gossip and are, | think, extrava~
gantly large. Railroad companies
which received loans on securities
which have been transferred to other
persons are amply protected and lose
nothing. The losses will fall chiefly
upon individuals who have invested
money with the firm. This business
was conducted by Ward. OF course
General Grant and son have known
of these transactions, but / don't
think they are fully aware of the
large amount involved. They have
been led on by Ward and will Of
course lose very heavily.
Fred Grant was interviewed and
said: II am looking for employ
Rlent; nothing to do now. 1t would
depend whether anything was saved
from the wreck whether he went
into business lor himself"
The. Marine Bank began suit
against Ferdinand Ward to recover
500, 900, the amount of the over-drafts
paid out for the bank on Wards &C.
count. Attachment was granted
against the house and personal prop
erty of Ward in Brooklyn. The sher-
if is IN possession.
The Brooklyn Eagle says: Persons
passing along Pierrepont street this
morning were startled to see two
well~dressed men grasp the head of a
horse that was attached to a coupe
and order the driver to stop. Many
thought they YER to witness a high
way robbery but they were mistaken.
The men were detectives and the ill.,
mate of the coupe was Ferdinand
Ward. One of the detectives pro-
duced q paper from his pocket, and
evidently couldn't tind what they
were in search of. One of the men
said: "Mr. Ward, you are II pris-
oner," and it was when Ward asked
them for proof of their authority that
search for the warrant was begun.
A troubled look overspread the coun.
tenance of both men. Their pockets
were turned inside out and a bundle
of papers they carried was examined
about a dozen times but to no avail.
They gazed discoDsolateiy after the
coupe as Ward was rapidly driven
toward the New York ferry. Ward
hadn't been out of the house over half
an hour when the DEPUTY sheriff APP
peared with a wris of attachment for
the furniture and other effects. AS
Ward could not be served with the
papers they were nailed on his front
door and excited much curiosity.
The deputy made an inventory of the
articles in the house when the family
commenced prepa rations to depart.
The house is elegantly and expen-
sively furnished. The Wards have
lived in the house about five years,
and four weeks ago their only child
was born. He Was christened Ferdi-
nand Grant Ward, after General
Grant. The refuge of the Ward fam
lily will be the home of Mrs. Wards
mother, Mrs. Green, No 80 Monroe
Place, and thither the depOsed one
journeyed. Mrs. Green is the WIDOW
Of the former cashier of the Marine
hank.