New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-11-26
PROFITS AND DISCOUNTS.
WIPE THEY TIE SANE TO WARDS MIND :
NOW ur SHARED HIS PROFITS WITH THE MNN VIM
DISCOUNTED HIS NOTES.

now ur SHARED HIS PROFITS WITH THE MIN
DISCOUNTED HIS NOTES.
me- Warner 81 sc before Referee Cole
-, ceor-e f. Spencer, the former Cashier Va
-, Ward testified that he had made search NV
ut earlv accounts and had found pass oooh 90
,no rho time between March, 2, 1875 anu No'onD =,
,e7e A check book covering part OF 1niS '"'0 n1N
s,o becn discovered Ward had evidently poem payi"s
,,orost on loans and on discounts. but MT
So ,nol,le To determine the rate The pass DOCK "iu
- NV where Wards deposits came FROM 1he CHECK
~, entres nearly all read deposit" MoS1 oi tno9
,ero for Ward himself and Sidney Green on trahs"0
a., p,odncc Exchange certificates There were pro's vi
.os,nerts in these certificates About the time th"'
o,acks went out those profits thero "elo 0"'i''
oT"deposits for corresponding amounts.
General Hubbard was anxious to know II man Vi
common sense not knowing Sidney Green coulo iorl
an opinion from examination Of the books as u INC
source of the profits"
M snencer-In great many instances, yes sir
To Mr. Alexander Mr. Spencer said that the checks
ont which we're given to Mr. Fish, rule lndo ateu
..nroats" on flour contracts There were also p roh'
nm notes discounted This statement led 10 senoi'i
i,in, mn NJ ears In the room Mr.. Alexand err IL was
seen was on a stilhunt to show the relation Vi P'"
Oh contracts" and profits on dlscouhVeN PaP0
Mr. Alexander-DO you mean 10 say, N'i. "' ft az
that "profts" were paid on dlscouhtSi Az az
pears so. A.. aooo, Award would get his
note discounted, at per cent ana ana ha of the
became due he would promise MI, rSn a from
the investments in ALLEGED hoI these HO' Sprots"
would be gHep he bank on
Of the checks paid TO fis9 van ,,oan nv shrinkagei
Sr RanSs~Probaby a shrnkaGe in the -four barrels;
Mr. Aexander-Can you say IN acconpt we're on con.
tracts A-Most of them were such IN many Th Last
the numbers only of the contracts weio The specia
number was Zo5' NO DO was '"0 ''''
account - 49,. ,oo,,s 20 sboyv that Mr.
A wit Government
o;%aiitvi A-No sir The Withdrawals IN
nSonnt we're money taken out Of the special ana
tne aeGGuS oMerl acco1nt Sometimes the Marine Bank
disconned the notes and sometimes MI su ~ ~ ~.
% $50 win loan on two $4,000 notes of Grant
Mr.. Fish discounted the notes
the entries in Wards check book after the formation
Of the firm of Grant Ward showed that in his various
euises of himself Grant Ward especial and Grant
Ward regulars" Ward made transfers at his pleasure
and convenience from to the other.
Mr. Alexander-I observe that the summary refers 10
pr"dts paid to the Marine Bank aud others. What do
y9g mean CS lf D. Fish and Benjamin Fish
o. o.DAn njS directors of the banhl Ayes, sir
6.-How many A.-One, think W
Q-Were the profits paid TO other peoplef A'-ieS'
o-Haye you prepared list of theml Al have.
Nr Alexander-I would like 10 have that hst drought
here.
II is expected that this list will throw coca Geh OF
light around the Marine Bank as it was.
Nv Suppeers summary Wards jugelery in the three
kinds of accounts showed the following operations from
July l. 1850, to May ;, 1854
- - eN,s roc,lar towards individual acct SAL 295 %
PROM - ~ " -, = W Mar III acct l0sO 7G3 3j
Int} - ~ " taf ~ 9c co,,rt 80 ,S23 90
Trom d " special % r. We nividual acct o<'5-Ju w
Into X "ssp'oi'i acct rum :. o.-- O9g 1919 90
acc. rye lei Vat K 6cct ......... 9.453645 y
IIuA nom 81 =. N -
Ih.o :, " ~ a. ~. q sl -........ 1.l76.Ou0 90
from ~ ~ ~ . ia, e,ct IN @ & 2 is9 -Sg a.
out " r g., ~, - oct ~ q y " . Slg.g3S SD
Iui CI ~ nv Of nom a. 4 WIS regular 873 ,b6I 81
1nt1i W, 80 800 a. avn ~ - Z. 90 $50 90
ION -, I, ~ ,is',,'s aver cnfs $500 615 %
= e vs. ant over ms .....-...- S,756.7l6 3
r,~oro,ce .................... 3.y7s Il