Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1885-03-28

| shovelS, can I be very GOOD security lCr tIle
! money! All, but he said, we keep the
contract in our possession, and the money
| is all paid into our office The road, he
said, held back 10 per cent. until the work
! was done, and they paid the contractor for
every subdivision | don't know what
| length Of read that was that was paid for,
but they kept back 10 per cent. OF the con-
/ tract, and that is the way he explained 1t,
| and ! supposed he was more OF business
man than was. There was one occasion,
which think must have been in 1888,
when we went out to the western part OF
Pennsylvania in the winter. and Fish was
along and a party of gentlemen, and we
! had a special car. Ward was with the
party, but he wasn't discussed at all. Col.
Grant was along, and there was Mr.. Fish,
! Ferdinand Wood, James R. Smith, Mayor
/ Nelson. J. Nelson TappaIi, City Chamber
! lain, and the treasurer OF the road, MI
/ Spencer
Odd Fish converse at all about the
| business of Grant u Ward?
! Al don't think he ever did. ! made a
remark, l recollect. that
WARD WAS = IAN OF WONDERFUL ABILITY,
, OF wonderful business capacity, or some
thing like that, and Fish said he never had
got anything so good in his life before,
( Q.-Y0u didn't draw from the firm of
! Grant d Ward the profits which you were
/ led 10 suppose had been made?
! A-No; ! didn't | left them there with
! the concern, and everything ! had besides,
and haven't got it out. ! had some little
items, but don't know what amount, that
were purchased, sorpe of them, for me with
money of the firm, that were the profits OF
the firm. They never were purchased. but
then they We're supposed TO be, and | was
charged with the purchase of them.
Q.-You drew, if ! understand correctly
from the firm at the rate of $1,000 a month
during the year 1888?
Ayes.
Q.-And at the rate of $4,000 a month
during the early part of 1881?
Q.-Up 10 The time of the failure?
A.-Yes sir.
Q.-And that was the limit OF your drafts
upon the firm
A-That was the limit Of my drafts.
Q.-As | understand it, General Grant,
everything you had was lost III the failure
of that firm.
A-Everything | had in the world went.
Ward came up here Sunday night before
the failure, and asked me to go down with
him to see Mr.. Newcomb, to see if he
couldn't get $4,000 from him; that he
could raise $150,000 it would carry the,
Marine Bank through; that we had $780,,
600 in the Marine Bank, besides 81, 100000
of securities in our vaults; that we should
be Inconvenience very much if we could
not carry the bank through, and he said
the Marine Bank was all sound and solid,
if it had time to collect in or draw Il little
of its time loans; and | went down there
with him, and Newcomb was not at home
and he asked if knew VIM. Fl. Vanderbilt
well enough to ask him, and after some lit
lie hesitation, | said | did, and Vanderbilt
loaned it to me without hesitation. He
said at the time he gave IL TO me he was
lending it to me, and that he had no recol-
lection Of ever having done such a thing
before, but that he would do it for me.
Well, that has taken all the remaining
property l had.
Q.-The representation of Ward to you
was that your firm was in danger on &C
count of the critical condition of the Ma
rine Bank?
A.-Yes. sir. He said that we had ST.
300 600 Of unpledged securities in our vault
Q.-Now, did Fish, at any time during
the spring of 1884, communicate to you
any distrust on his part of Ward?
A.-No, sir; if he had | should have
been very ready, have no doubt, to take
uIStTuSt.
REDIRECT BR DEFENDANTS COUNSEL.
lad no distrust of Ward the night be-
fore the failure not the slightest, and
rccoliect that my son, L. S. Grant, after the
failure, said that Ferd. would come out all
right yer. He had no doubt he would come
ali right. for he had such profound friend
ship for his brother, VIII Ward, that he
did not believe it was possible for him to do
q dishonest act. 1t took me day or two
to believe it was possible that Ward had
committed the act he had.
BY Mr.. Clark-Exactly what was it, ac-
cording to your present recollection, that
Ward said on the Sunday before the failure, |
III respect 10 the securities of the firm in
the Marine Bank?
Ale didn't say he had any securities
il the Marine Bank. He spoke of our own
private securities. is the way | understood |
it; that we had 81, 800 600 in our vault, and |
we had seven hundred and odd thousand |
dollars IN money in the Marine Bank
Q.-Ihat was Mr. Wards statement to |
you Sunday?
A.-Yes. sir.