The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1885-03-28

"a o,S4, o.yhR les, Material aEo rom thsls
re oi'0 e7Vn Ta-rs Firo and Hnrslay.Procy g,
connected with the Reading road.
He said thore was man who
had q section OF that road
TO build and he said that man, II he
could have tho money furnished for his
expenses, and his tools, and
his little steam engine, and
every thing he needed theie, he coald
work 70 much better advantage on his
contract, and that the firm of Grant &
I Ward Was to let him have tho money to
money to get along with. Well, | said,
! II don't seem to me that
he is very good security. / shouldn't
regard that rs very good security
| for your money and mine. A
man that has taken contract
and can't pay Tor his horses and his
steam engine aud his picks, etc., and so
on, can't bo very good security
for money. Oh, but he says,
we can keep - contract lin our posses
sion and tho money is ell paid into our
office. The road, he said, held back
( I'D per cent until the work
/ was done and no paid the contractor for
/ every subdivision, That Is tho way he
explained it, and ] supposed he was
| more Of business man than /.
/ rhere was one occasion, which | think
must have been In 1883, whom we went
/ OIL. to western Psnnsylya.
MIA in the winter, and Fish was
/ along and party of gentlemen.
| We had Especial car Ward was with
( The party, but nc was not
discussed, that l know Of,
/ at all Col. Grant was
along, and there was Mr.. Fish and
| Ware aud James r. Smith, Mayor Ed
son aud j, Nelson Tappor and the
treasurer Of tho road, Mr.. Spencer.
Q.-Did Fish converse at all about tho
business OF Grant u Ward?
Ans.-l don't think he ever did. |
made a remark to the effect that Ward
was q man of wonderful ability won
derful business capacity, or something
like that and Fish said no had never
got anything so good in his life before.
Q.-You did not draw from the firm
of Grant q Ward the profits which you
were led TO suppose had been NADER
Ans.-No,. sir, | did not; left them
there with the concern, and everything
l had besides, and haven't
what amount. There were pur-
chased some of them for me
with tho money of the firm,
that were tho profits Of tho firm, but
they never were purchased by me, and
| was charged with the purchase of
them.
Q.-You drew, understand, from the
firm, at the rate of $4,000 per month
during tho year 1882
Ans.-Yes.
And at the rate of $4,000 per month
during the carly part of lsSl2
Ans,-Yes.
Cup TO the time of the failure?
Ans,--Yes sir.
Q.-And that was tho limit OF your
drafts upon the firm?
Ans.-That was the limit of my drafts.
Q.-As | understand 1t, Gen. Grant,
everything you had was lost in the fail
ure Of that firm?
Ans.-Everything had in tho world
went. Ward came up here on the
Sunday night before tho fail
ure and asked mo TO 20
down with him and 500 Mr.. Nowcomb,
to see if he couldn't got $4,000 from
| him, stating that he had himself raised
! $23O,O0O, and that II he could raise $780,
/ 900 IL would carry tho Marine
$66O,0OO IN the Marine bank, besides
Sl,S00,0O0 in securities in our vault;
That we should DO incouyenienced
very much If We could not carry the
bank through, and he said
tho Marine bank was sound
and solid, il it had time
TO collect in or draw little OF its time
loans. | wont there with him
and Mr.. Newcomb was not at home,
and no asked me If i knew
VIM. II. Vanderbilt well enough 10 ask
him, and on some little hesitation said
| ola, and Vanderbilt loaned
lie said to me that ho was lending this
% NE, and that no had no recollection
of ever having done such thing
before, but that he would do II for me.
Well that has taken all the remaining
property ! had.
Q-rhe representation Of Ward TO you
was that your firm was IN danger on ac.
count OF the critical condition of tho
Marine bank?
Ans.-Yos, sir. lilo said that wo had
Sl,3QO,UUO OF uDpledged securities I'm our
vault.
Q.-Now, did Fish, at any time during
the spring of 1891, communicate to you
any distrust on his part OF Ward?
Ans.-No sir. If no had, ! should
have been ready 10 take distrust.
Redirect by defendants counsel:
i had no dstrust of Ward the night
before tho failuro-not the slightest.
And l rocolect that my son, U.
s.. Grant, iry after tho failure,
said Ford would come cut right yet. Ho
had no doubt no would como out
right, for no had such a
profound friendship for his
brother, win Ward, that he did not
believe II was possible for
him 10 do dishonorable act.
! II took mo a day or two 10 think itposs-
BILE that Ward cogld commit tho act.
Exactly what was It according 10
your present recollection, that Ward
said on the Sunday before tho failure,
In respect 10 the Securities of tho firm
In the Marine baDk2
Ans.-lIe did not say no had any 30
curities in Tho Marine bank. Ito spoke
about our own private securities. The
way understood II was
that we had Sl,3O0,OOO in our vault and
had several hundred and odd thousand
dsllars in money In the Marine sank.
Q.-That was Wards statement on
thrt day7
Ans.-Yes, sir.
Indications.
WASHINGTON, March T,-For the