Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1884-05-29
Ferdinand Ward.

Ferdinand Ward is the leading sensa-
ton of the day As the managing man
in the insolvent banking and brokerage
firm of Grant & Ward. New York, he is
responsible for its failure, that prodig-
ious wreck which has been followed by a
good many others; and to him is attrib-
uted, in a measure probably only second
to that of its president, the disastrous
suspension of the Marine National Bank
of which he is director. The failure
of Grant & Ward shows an Indebtedness
of S14, 50l, 531.04. An inquiry into its
affairs is still in progress. That ex-
President Grant is involved in the ruin
and losses probably hundreds of thou
sands, gives national Importance to
Wards doings; for all agree in attrib-
uting to him the stupidity, rascality, or
recklessness which led to the catastrophe
in which the man who took prisoners
Gen. Lees army is, as it appears, VIC
tim. Under examination he has admit
ted that he had overdrawn his account
a long time ago, and that since March
-, 1888, he has raised money by prom
Using large profits without adequate Sc
curity for the safety of the investments,
in order to avoid becoming insolvent.
His plan, in short, was to pay large
interest out of the principal loaned to
him, and use the balance at his own
sweet will.
The firm of Grant & Ward consists of
Gen. Grant, Ferdinand Ward, u. S.
Grant. DR.. and James ID. Fish, Presi-
dent of the broken Marine National
bank. About three years ago it was
embarrassed, U. S. Grant, Jr., and
Ferdinand Ward being then general
partners, and Gen. Grant and Mr.. Fish
special partners. The general partners
had been in business together only about
a year, and had used up or involved
the 5000, 900 special capital provided by
Gen. Grant and Mr.. Fish, as well as
the capital furnished by themselves.
In order to keep the firm upon its feet
the special partners endorsed the firms
notes and otherwise aided them in pro-
curing 100000. Since that time Ward,
as it appears, has con tinued to be the
leading spirit in the business of which
he has made shipwreck.
He is about thirty-eight years old, is
slightly built, and stands five feet ten
inches. His complexion is sallow. The
aggressive prominence of his nose is
marked popularity of his countenance
Ferdinand Ward is of clerical pater-
nifty, the son of a Baptist minister re-
siding at Geneseo N. Y. Only eight
years ago he went to live in BROOKLYN,
the place of his present residence, He
was then clerk earning a salary of
twenty dollars week; but he managed
to become intimate before long with a
retired merchant named Green, and in
the course of time an inmate of that
gentleman's household. When this step
was taken he was attended by colored
valet and his s'semblances altogether
betokened prosperity. Five years ago
he married his friends daughter, Miss
Ella Green. During the previous three
years he had made influential friend
ships in New York, some of them in
GLIDING that with the present mayor,
while acting as the Assistant Secretary
of the Produce Exchange. BY the
death of his wife's father, which was
soon after the marriage, she Inherited
a large fortune, thus increasing further
her husbands social consequence.
Wards financial good luck did not end
here. His brother William, who at
Assayer in New York city. became in
terested in a silver mine in Colora do.
Ferdinand and others joined him IN
purchasing the property, which yielded
well. Thereupon our subject took
handsome house in Brooklyn, i'll the
neighborhood of residences occupied by
millionaires and was subsequently able
to buy it. He still resides in the same
mansion, at the head of an establish
ment which lately comprised a coach
man and footman, and French cook,
a French butler aud French waiter.
And his magnificence extended beyond
this. Near Stamford, Conn, he owned
property which cost him nearly 500, 900.
He bought it three years ago. and there
stabbed the majority of his twenty-four
horses. Carriages, dogs, and other
usual belongings of a man of wealth
added dignity to his establishments.
People spoke of him as a millionaire.
His friends were numero us and distln-
guished, including Gen. Grant and MI.
Fish, President of the Marine Bank
who had a night key of the Brooklyn
house and was associated with him in
real estate speculations. Ward l. gifts
to friends and TO the Brooklyn Histori-
cal Society were correspondent in quail
ity to his social pretens ions. The learned
body named made him life member.
His religious interests were by no means
neglected, as he sat regularly at the
feet of DR. Storrs in the Congregational
church of which that gentleman is the
distinguished pastor. Further develop
ments in the history of this interesting
young manmay be expected