New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-10-29
FERDINAND WARD GUILTY.



tlous profits could no longer be paid Warner appears
to have been OF those who drew out some OF INC
"pronts" that were placed his credit and only re-
invested portion of which supposed TO De que 10
him. BY this means, according TO The Stars hgures'
Warner enabled to obtain Sl141 70 more than
his original Investment long table showing All 'no
recorded transactions Ward and Warner seems
to indicate that the same general method was pursued
throughout
A loan, for instance, made on January 20 1880
due in February l, apparently of $1,000
but the loan entered as $l1,25O making
the rate OF interest apparently 1920 per cent The
full amount OF 81 $50 paid February l. war
ner reinvestlug $4,000 and retaining $3.50. new
note FOR FL 800 given due February q, represen
ing the loan of 81 O,OOO at 800 per cent On February
tile money was reinvested and new loan OF $4,000
made the note being however, for Sl5,250 or at tho
rate OF 1860 per cent, due February 81 On the latter
date Warner drew $3.50 and received note for
$4,000 due March g, equivalent for the loan Of
$4,000 Warner had thus already this loan received
In cash the full amount of his original investment Of
$4,000 made three weeks before, and had besides note
for $4,000, which continued to pay interest at
06O per cent, and most OF 1t was soon
drawn in cash. other similar transactions appear,
amounting to S17 2s2, O2s 20 in less than two years
Mr. Dorsheimcr thinks that some OF this money could
be recovered by the receiver Of Grant ward or by
some other person from Warner ana others who nave
IeceNtu rs no believes 10 pc usuIi0s ihtetest, uouE
disguised under the name of profits" He quotes the
usurions interest TO the principal of the loan
he brings suit within year The city authorities can
Julien T. Davies the receiver OF Grant ~ Ward, and
Walter >. Johnston. the receiver of the Marine Ma
tt0nal Bank, might to be among the persons
interested In bringing such suits ~ Mr. Dorshemer
proposes. Mr. Johnston said yesterday - There IL no
dOub that every doarof money should be got back
Bus does not rest with mo tobrng tue necessary ns
500 900 bnt as the liabilities OF that firm exceed
assets by SGO000OO, not tho largest creditors
II rests with tho receiver OF Grant * ward 10
begin the SUITS ana doubt that IN tlic lie VIII
proceed to DO 40 lOu must remember that the business
was an immoral one ana 1t has involved vast amount
OF work To slit matters. 1t ia only about thirty days
since Wards appearance witness In the Ilolt-Warner
show showing where part Of the money
went Acting on this and other Information,
the receiver OF the firm Of Grant War VIII eventually
be- enabled To proceed t. recover the sums which under
me guse Of profits. have gone to those to whom they
Nj Davies said You may say for mo that many
suits have already been begun by me Tor tho recovery Of
and that such other suits Will in time
IN my Investigations the affairs OF the firm and the
advice OF my attorneys shall show to be adVsaDle ad
thar Is just to the creditors OF Grant x Ward VIII DC
j. IT, Work was called on last evening by II TRIBUNE
reporter aud asked If he would express his views
on Mr. Dorshcmcrs revelations III Inc sur regarding
appeared to be In perfectly comfortable
state OF mind, replied, after little reflection: The
lisAcd In The STIR this morning - repuDnta-
ton. slight changes OF figures, which
the same form the different newspapers OF this city
"a long ago ns last which have been introduced
I'm evidence IN the civil suits that have hcen pend
ing for over "A year aud which were made
the subject Of extended common; at the time OF tue
previous publications. aud at the Tine OF thcir lntrodnc
lion IN evidence. They present the paintlH =
caso as prepared by Mr. Ward. being
based uron his figuring. There wohld
seem to hc nothing in the entire publication, except
the statements which prcccde andHccompany the figures
and those which embodied IN the editorial article III
n, Sur OF which statements 1t may De
mildly said that they inaccurate ms
is moi a matter OF opinion for the figures given even IN
me Ndrs public, ti0u show that Mr. Warner actually
did invest large Of money irrespective OF ana iof
a long period Of time. In excess OF anything
received by him from Mr.. Ward IL BECOMES serious
question oil inquiry to the motive which can prompt
the reproduction OF this old material. accom-
panied is 10 f., by the incorrect statement that
il Is new by comments in the news columns ana on
the edit oral page OF Ihc ar which are unwarrautcd
MAYOR Grace asked yesterday II he wished To sty
anything concerning the allegations o DIT;
D1rsueimer that all those persons who received
sums OF money from Grant * Ward either as "prohts
ON the alleged transactions OF the rn or by Oaulng IL
mout a high rates OF interest could be made 10 refunl
lie replied that ho had no hing further TO say thaA
what Ac had previously made public. when ne was
asked 20 answer 10 suit AZ law he would he ready