The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1885-01-16
A GENEROUS OFFER.

! k@
Vanderbilt Cancels General Grants ObIisa-
tions and Offersithe Estate to Mrs. Grant
She Firmly Declines the Offer, Prefer
ring that the Debt be Paid Dollar for
Dollar.
NEW YORK, Jan. 10. General Grants
financial affairs were materially straight
ened Saturday by the generous gift of Will
lam ID. Vanderbilt, who transferred the
bills OF sale and mortgages on General
Grants estate to Mrs. Grant in trust. The
money kings generous intentions were first
revealed i'll the following letter:
No. GO Firm AVENUE, January 10, 1se5-Mrs.
Ulysses ). Grant--Dcar Madame: So many
Misrepresentation have appeared in regard
tt~the loan made by INC to General Grant and
rejecting unjustly upon him and myself that
i seems proper briefly to recite the facts: On
Sunday May last, General Grant called at
my house and asked me to lend him S150,000
Tor one dag. | gave him my check without
question, not because the transaction was
business like, but simply because the request
came from General Grant. The mis-
fortunes which overwhelmed him in the next
tWenty-four hours aroused the sympathy and
regret OF the whole country. You and he sent
me, within few days after that time, deeds
70 your JOINT properties to cover this obliga-
ton. and urged my acceptance ON the ground
that this was the only debt of honor which the
General had personally incurred, and these
deeds returned. During my absence in Eu-
rope the General delivered to my attorney
mortgages upon all his own real estate, his
household effects, and swords, medals and
works OF art, which were memorials of
his victories and presents from Governments
all over the world. These securities were, in
his Judgment, worth Sl50010. At his solicita-
non.the necessary steps were taken by judy
ment, etc., to reduce these properties to pos
session. and the articles mentioned have been
this day bought by me, and the amounts bid
applied to the reduction of the debt Now
that ham ut liberty to treat these things as
my own the disposition of the whole matter
most IN accord With my feelings is this /
present to you, as your separate es-
tate, the debt and Judgment | hold
against General Grant, also the mortgages
upon his real estate and all his household fur
niture and ornaments, coupled only with the
condition that the swords, commissions,
medals, gifts from the United States, States,
cities and foreign governments, and all
articles Of historical value and interest, shall,
ut the Generals death, or, l. yOI' desire it,
sooner, be presented to the Coz ernment at
Washington, where they will remain as per-
petual memorials of his fame and of the his
tory of his time.
inclose herewith assignments to you of the
mortgages and judgments, the bill of sale of
his personal property, and the deed of trust in
which the articles of historical interest are
enumerated. A copy of this trust deed WILL
with your approval, be forwarded to the Presi-
dent of the United States foLsdeposit in the
meet with your acceptance and approval, and
with the kindeSt regards to your husband, [
am yours respectfully,
W. Fl. VANDERBILT.
Mrs. Grant found herself unable to &C.
cept the gifts, and in respect to her feelings
of gratitude for the offer of MI. Vanderbilt
General Grant sent in reply the following
letter:
NEW YORK CITY, Jan. 10, 1SS5.-Dear Sir:
Mrs. Grant wishes me to answer your letter
or this evening, to say that While she appre-
ciateS your great generosity in transferring
to her the mortgage given to secure my debt
OF Sl50, 000 she can not accept it in whole She
accepts with pleasure the trust, which applies
to the articles enumerated in your letter. to go
to the United States at my death, or sooner,
at her option. In this matter you have antic-
dated the disposition which L had cOntem-
plated making of the articles. They will be
delivered to the Government as soon as ar
engagements can be made for their RECEIPT on.
The papers relating to all the other property
will be returned, with the request that you
have it sold and the proceeds applied to the
liquidation of the debt which / so justly
owe you. You have stated in your letter
with the minutest accuracy the history of
the transaction which brought me in your
debt. ] have only to add that regard your
giving me your check for the amount without
inquiry as an act of marked and unusual
friendship. The loan was to me personally.
] got the money, as / believed, to carry the
Marine National Bank over Il day, being
assured that the bank was solvent, but,
owing to the unusual calls, needed as
sistance until it could call in its loan.
/ was assured by Ferdinand Ward that the
firm of Grant " Ward had over $66000O to its
credit at that time in the Marine Bank, besides
Sl3OO,0G0 of unplcdged securities in the firm s
own vaults
! can not conclude without assuring you
that Mrs. Grant inability to avail herself Of
your great kindness in no way lessons SGther
her sense Of obligation or my own. Yours
truly, u. S. GRANT.
To ". Fl. Vanderbilt, Esq.
When Mr.. Vanderbilt found that his offer
was defeated by the refusal Of Mrs. Grant
10 accept lie determined to take the matter
into his own hands and apply the estates to
the creation Of a trust fund that would ac-
crue TO her benefit. He announced his in
tention i'll a letter as follows:
GAO FIFTH AVENUE Jan. II, 16S5.-General U.
S. Grant, Dear Sir: On my return home last
night LoupC your letter in answer to mine
to Mrs, Grant. | appreciate fully the Senti-
yourself in declining the part of my PROPOSE
tion relating to the real estate. / greatly re-
greet that she feels it her duty to make this
decision, as j earnestly hoped the spirit in
any ScrupleS she might have i'll accepting
It, But | must insist that / shall not
be defeated in the purpose to which [
have given so much thought and in
which have so much at heart l will, there
lore, as fastas the money is received from the
sales of real estate, deposit it in the Union
Trust Company. With the money thus real
lied Will at once create with that company a
trust with the proper provisions for the in
come to be made to Mrs. Grant during her
life and giving the power to herto make such
disposition of the principal by her will as she
may elects Very truly yours,
WILLIAM II. VANDERBILT.
GENERAL U. S. GRANT.
General Grant at first accepted this last
offer, but Mrs Grant, on further delibera-
ton, decided to refuse all gifts, treating the
debt as one of honor, which the General
should pay without attracting compassion
or deserving it:
New YORK. CITY, Jan. II, 18S5.-Dear Sir:
Your letter o9 this date received. Mrs. Grant
and regret that you can not accept our prop
osltlon TO retain the property which was
mortgaged in good faith to secure debt of
honor, But your generous determination
compels us to no longer resist. Yours truly.
W. III. Vanderbilt. u. S. GRANT.
New YORK, Sunday, Jan. IL, 18S5.-My
Dear Mr. Vanderbilt: Upon reading your letter
th1S afternoon General Grant and myself felt
1t would be ungSaciOus to refuse your prince
ly and generous offer Hence his note to you.
But upon reflection find canfnot. / will not
accept your munifcence in any form. / beg
You will pardon this apparent vacillation and
great regard, and a sense of obligation that
Will always remain, am yours very CRATE
fully, JULIA d. GRANT.
10 Mr.. William II. Vanderbilt.
Dynamiters Warned.
WASHINGTON, Jan. 12.-The disclosures