Crawford avalanche. (Grayling, Mich.) 1879-19??, 1885-01-15
A GENEROUS OFFER.


Vanderbilt Cancels General Grants ObIIgs-
lions and Offers tho Estate to Mrs. Grant
s-she Firmly Declines the Offer, frefer-
ring that the Debt be Paid Dollar for
Dollar.
NEW YORK, Jan. 12.-General Grants
financial affairs were materially straight
ened Saturday by the generous gift OF Will
lam IL Vanderbilt, who transferred tho
bills of sale and mortgages on General
Grants estate to Mrs. Grant in trust The
money kings generous intentions were first
revealed in the following letter:
No. $40 FIFTH AVENUE, January 10, lss5-Mrs.
Ulysses s. Grant-Dear Madame: So many
misrepresentation have appeared in regard
TO the loan made by me TO General Grant and
rstb 10 n roc " the fct ON
Sunday May last, General Grant called ut
my house and asked me to lend him $l5O,OOO
for one day. l gave him my check without
question, not because the transaction was
business like, but simply because the request
came from General Grant. The mis-
fortunes which overwhelmed him I'm the next
twenty-four hours aroused the sympathy and
regret of the whole country. You and he sent
me, within u few days after that time, deeds
TO your joint properties to cover this obiga-
ton. and urged my acceptance on the ground
that this was the only debt of honor which tho
General had personally incurred, and these
deeds returned. During my absence in Eu-
rope the General delivered TO my attorney
mortgages upon all his own real estate, his
household elects and swords, medals and
works of art, which were memorials of
his victories and presents from Governments
all over the world. Those securities were, in
his Judgment, worth $lO,0O At his solicita-
ton the necessary steps were taken by tudg-
ment, etc., to reduce these properties to pos
| session, and the articles mentioned have been
| this day bought by me- and the amounts Dld
| applied TO the reduction of the debt Now
that / am at liberty TO treat these things as
my own the disposition of the. whole matter
| most in accord with my feelings Is this:
| present to you, as your separate es,
tate, the debt and Judgment hold
| upon his real estate and all his household fur
niture and ornaments, coupled only with the
| condition that the swords, commissions,
| medals gifts from the United states, states
| cities and foreign governments, and all
articles of historical value and interest shall,
at the Generals death, or, u YOU desire u,
| sooner, be presented to the Government at
Washington, where they VIII remain as per-
| petual memorials of his fame and OF the MS
| tory of his time.
Iinclose herewith assignments to you of the
mortgages and judgments, the bill of sale of
| his personal property, and the deed of trust In
which the articles of historical interest are
enumerated. A copy of this trust decd Will,
with your approval be forwarded to the Presi-
dent of the United States for deposit in the
| proper department Trusting TINS action VIII
meet with your acceptance ana approval, ana
with tho kindest regards to your husband,
w. II. vANDERBILT.
Mrs. Grant found herself unable to ac-
cept the gifts, and in respect to her feelings
of gratitude for the offer of Mr.. Vanderbilt
General Grant sent in reply the following
letter:
NEW YORK CRY, Jan. 10, 1Ss5.-Dear Sir:
| Mrs. Grant wishes me to answer your letter
| of this evening, to say that while she appre-
OF $3.50, 900 she can not accept it in whole. She
accepts with pleasure the trust, which applies
| 10 the articles enumerated I'm your letter, to go
| 10 the United States nc my death, or sooner,
| at her option. In this matter you have antici-
dated the disposition which l had contem-
plated making of the articles. They will be
| delivered TO the Government as soon as ar
engagements can be made for their reception.
| The papcrs relating 10 all the other property
NAVE M oH soid a0d w sne request that you
| liquidation of the debt which / so justly
owe you. You have stated IN your letter
| with the minutest accuracy the history of
| the transaction which brought me in your
| debt. have only to add that regard your
| giving me your check for the amount without
| inquiry as an act of marked and unusual
| friendship. The loan was to me personally.
got the money, as l believed, to carry the
Marine National Bank over day, being
assured that the bank was solvent, but,
| owing to the unusual calls, needed as
sstance until IL could call in its loan.
] was assured by Ferdinand Ward that the
firm of Grant Ward had over Se60,0O0 to its
credit ut that time I'm the Marine Bank, besides
Sl,3OO,OCO of unpledged securities in the firms
own vaults.
! can not conclude without assuring you
that Mrs. Grants inability to avail herself of
truly, r. s. GRANT.
To WI. Vanderbilt, Esq.
When Mr.. Vanderbilt found that his offer
was defeated by the refusal of Mrs. Grant
to accept, he determined TO take the matter
into his own hands and apply the estates to
the creation of a trust fund that would ac-
crue to her benefit lie announced his in
tention in letter as follows:
$40 FIFTH AVENUE, Jan. IL, ISS5.-General u
s. Grant, Dear Sir: On my return home last
night founc your letter In answer to mine
TO Mrs Grant. i appreciate fully the scntl-
ments which actuate both Mrs. Grant and
yourself in declining the part of my PROPOSE
ton relating to the real estate. / greatly re-
gret that she feels 1t her duty to make this
decision, as i earnestly hoped the spirit in
which the offer was made would overcome
any scruples she might have I'm accepting
It. But l must insist that ! shall not
be defeated In the purpose TO which 1
nave given so much thought and in
which have so much at heart. / will, there
fore, as fast as the money is received from the
sales of real estate deposit IL I'm the Union
Trust Company. With the money thus real
lied will at once create with that company a
come to be mace to Mrs. Grant during her
life LII! and giving the power TO her to mako such
may elect. Very truly yours.
GENERAL U. s. GRANT.
General Grant at first accepted this last
letter, but Mrs. Grant, on further delibera-
ton. decided to refuse all gifts, treating the
debt as one of honor, which the General
should pay without attracting compassion
OF deserving 1t:
NEW YORK CITY, Jan. ii, 18S5.-Dear Sir:
Your letter of this date received. Mrs. Grant
and regret that Sou can not accept our prop
osition to retain the property which was
mortgaged in good faith to secure debt OF
honor But your generous determination
compels us TO no longer resist Yours truly,
w. ii. Vanderbilt. u. s. GRANT.
New. YORK, Sunday, Jan. II, 1Ss5.-My
Dear Mr.. Vanderbilt: Upon reading your letter
this afternoon General Grant and myself felt
II would be ungracious to refuse your prince
ly and generous offer. Hence his note TO you
But upon reflection find canKnot. / will not
accept your munificence in any form. beg
you will pardon this apparent vacillaton and
consider the answer definite and final With
great regard, and sense of obligation that
will always remain, am yours very CRATE
fully, JULIA ID. GRANT.
To Mr.. William II. Vanderbilt
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Fatal Tug Explosion.