New-York tribune., 1885-02-01
MR.. CHAFFEE'S LETTERS.
rrNANcrAL OPERATIONS AND POLrTICa

/
FINANCIAL OPERATIONS AND POLrTICa
| THE TESTIMONY OF q. 8. GRANT, JR, CONTINUED.
| The investigation in regard to the securities worth
| half million Of dollars which ex-senator
| Jerome B. Chafee claims from the asssS OF
the firm of Grant Ward continued yesterday De-
fore Referee Hamilton Cole at his ofhce, No. ITO
Broadway, by Colonel George Bliss Charles
w. Bangs and william B. Hornblower. VINO
made further progress In the examination
of u g. Grant, jr The witness produced certain prl-
vate letters which he said all the letters no had OF
Mr.. Chafee's in relation to this procesoins.
Mr.. Bliss read various extracts from them, al
of which were addressed to My Dear Buck, In 1883
One extract was Yours of the 18th received. do
not understand what you mean by saying add mem
to your note from October to March Is, $4,000,
$4,000 profit ono hait OF .hiS
profit Is yours The money succeeded In raising on the
West yirgnias in connection with the governmental
take 1t that you got $4,000 ono month, but why you
have to use the West virginas in addition to the
$3.50 900 of Governments do not understand Do not
pledge the West Virginia bonds after this do not care
TO risk any more than 100000 Governments Tor any
purpose. Do 1 understand you right Z see almost
panic in stocks Look out II you are dealing III STOCKS
would not risk anything In stock schenes. ,o,,
early in November and after the six months are up on
ane von can uss safely do not want
any risk these bonds but would like to make
afew thousands to spend here next year IN the poticai
In the next letter Mr. Charee says "I enclose power
of attorney which have written myself - and
hope 1t will answer Mr.. Baker till get there Then
will change it fer the form Torn oSS you have @ @ m ySw oT
In letter from Denver dated October 22 the exscna
would deposit $1,000 to my credit at tho Fourth
and will draw on t the sam same & as hat cas,S SaeT
understand why you had to use West va bonds ana
Want yOH to pledge those West Vrsna 100000 is
all want to use even at little or no risk. A., 90,
5sssl'ed SSa had sanR9sTsd ssRsasd alt the % $1,000
also to raise the $4,000 which you wrote about /
and 1t is all perfectly satisfactory but
Next comes a etter dated at the Briggs House. Wash.
ington December in which Mr. Cbaee writes viii
the expose in THE TRIBUNE interfere with the use OF
money you have been dong, or will i not endanger
the payment OF the money you have out That Is the
way 1t strikes me or any other man up Tree. . 30
bad end to this casa business because do how
ybody thing pay such interest for the use OF
years it would not hurt II We lost the principal"
Mr. Grant explained that the referencelo the expose
in THE TRIBUNE related to what was published In rea.
tlon to Hubert O.. Thompson, and said that
there were investments made by Grant Ward Ward
in city stocks. He continued his Testimony as follows
have furnished Mr.. Bliss with all the checks eonn
find drawn my banking account These are IN addl.
mentioned checks amount TO Sl1G.725 9i and were
drawn between April ss2 and April s Ss Tbs sfs ms
| cludes moneys invested Tor Mrs. Grant ,
Bangs asked lf the pass-DOok wOuld nOt snow
| the amounts or these checks best to when
| Colonel Bliss responded - don't propose TO be
| bound By any statement OF Grant & Wards books,
because have convinced that they are not re-
liable" Colonel Bliss produced five cheeks when ne
said pOnded with entries on the contract scedHle
Three OF them were fer $4,000 eacn one iof S5oVoV
and for $4,000 The latter was sgned py Gran.
Ward and indOTsed The others were slgned by n.
Ward and dorsed by him. He also produced checks ior
Ss77O5 - for household expenses drawn IKE the pre-
ceding ones between January l. 1882 anu reoiu' -
The witness continued: "From the firm only re
| ,p,,n q Onn a Whi
each member by agreement. Mr. ward Thought ~ wouiu
be good plan to limit the amount that e1eh A. could aaT
and the rest OF the profits III 10 swel the capal
the The rest Of the profits was never passeu
Monthly statements rendered to Mr. Grant by the firm
were produced, including three Government contracts
proceeded Ward had proiessed to have opportunities
to buy flour for cash. selling It on time at pron %
arm In regard 10 the OF the firm did not
know there any besides Mr.. Chaifee my brothers.
IL The, world BY the 1 irm; ia ., When When
claims rs Mr. Chaee thought he referred 10 deposit
ors with tie hrm There were no direct dealings be-
| Mr. Bangs reading from u statement In which Prod
| nce Exchange seat mentioned asked: " Did you
HiIr Mr GrantWs supposed we did have never read
the statements rendered me by the firm since found
that had nothing, have not taken scieht inter-
In pep"nse TO questions by Mr. Hornbower. Mr.. Grant
YOU will let have the bonds think We can mas good
use Of them told Mr.. Chanee that | would
| not, would not do it, In a letter dated October
| 3 1888 he wrote TO You can use the
$4,000 for our joint interest through your firm
a. you suggest have found AT my house, In Mr. Chat
fees possession. the contract receipts Mr. Chafee Is
| staying AT my house at present"
| .~Nr. HornblOwer-An Interesting question seems
| 10 be the W ereabOuts OF Mr.. Cbafee.
Colonel Bliss If You had read the reports OF the Sena-
toriaI fight In Denver would have known where he
| - .
| MIR Uornblower-Whch side was he on
| Colonel Biss.-IIe on the winning side. a
Tho contract receipts and sixty seven letters nom
Ward TO Mr. Grant were marked for Identification. Mr.
Grant added ward told after the failure that the
| flour business IA fictitious business 49,
Colonel Bliss here read letter from Ferdinand ward
| TO My Dear Buck" which Mr. Grant said was
received by him in Vermont just after he Was was
| married. Ward wrote: I'm glad you're
enjoying yourself Keep it up, old boy
These days don all the time Grant x Ward are
| going to subscribe 81 100000 for certain bonds ::
| Evening Star received worth $50 ton. We
| are on the broad road 10 wealth. old boy" . -
Mr. Grant continuing his testimony. said: Treat
ing all the profits real the firm would me l25O
600 and II they fictitious 1t still owes
me $4,000. l loaned Ward three time note'
for $40 900 each. signed by myself When they became
due asked him for them and lie said lie had destroe
them 1 find that they arc extant and Ill othei
| peoples hands" -
The hearing was adjourned to February 10.
r a.