The Republican. [volume] (Oakland, Md.) 1877-current, 1885-05-09
GENERAL GRANT.
His Connection with the Wall Street AT
fair Not Generally Understood.

His connection with the wall street Al.
fair Not Generally Understood.
There has always been matter of
wonder that so intimate friend OF Gen
eraI Grants as Anthony j. Drexel,
the keen and wealthy banker,
of this city, did not steer him
away from the whirlpool of Wall
Street As matter of fact the General
thought that he was simply a special
partner to the extent Of $4,000 with
Ward, and that the operation was an
ordinary business one, and he did not
discuss it with Mr.. Drexel. There are
a good many things indeed about this
Wall Street horror that are not gener-
allv known. To friend who warned
the General that Wards scheme was
visionary, and that no business could
yield such profits as were promised,
Grant repeated that in any event he was
liable only to the extent of 5000 and
added. ''Ihere are able and experienced
business men who are engaged with
Ward. They would not be likely to take
part in any foolish scheme. Ward has
a smelling machine in Colorado, too,
that yields very large profits" The
General, at Wards suggestion, put some
capital in the Colorado enterprise. Ac-
counts were presented MONTHLY and sub,
| did not knowanything about this particu-
larmachine, but he knew that there were
few concerns of similar sort in Col
orado reputed to be making money, and
the accounts presented by Ward were
cheering. General Grant, however.
withdrew his capital from the smelling
enterprise and put it with the rest into
the Wall Street business. Long after
wards relative Of Ward called on him
and said: General, | want to tell YOU
that Ward is a rascal. He never had a
smelling machine of any kind in Colo
RADIO His representation that he had
was fraud, and the monthly accounts
that he submitted to you were all cooked
up
The hold that Ward got upon General
Grant was so absolute as to seem almost
incredible. He robbed not only the
General but the Generals family and
relatives as well. For example, here
are some facts and figures that have
never before been made public: The
house on SiXty-sixth Street in New York
that was bought for General Grant
chiefly by gentlemen of PHILADELPHIA
was valued at $4,000 1t was ascer-
tanned that there was mortgage upon
it for $4,000. The mortgage for some
reason could not be removed at once.
and check for the amount was placed
in the Generals hands. Ward by skill
full maneuvering soon managed to get
hold of the check. Before the failure
General Grant made over to his wife
quarter of the 500 which he derives.
after certain payments, from the trust
fund of $780, 900 raised for his benefit
Ward got that, too. He also succeeded
in getting $4,000 that Nellie Grant had
saved up from her pin-money; 1925. 200
from Mrs. Honore, of Chicago, Fred
Grants mother-in-law; $4,000 of the
savings of Mrs Honore's daughter Ida.
Fred's wife; and S25, 900 from Mrs,
kraemer, the Generals sister, besides
the thousands that he got from General
Grant, Buck, and the rest of his victims.
When the crash came the Grants had
been so completely bled that they had
less than 500 in cash among them
fhItadetphia Cor Chicago Tribune.