Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1885-06-28

bhsekz e cisy bosds and his rneszfiasd
. iieck soaid be scssptsd In pa5nsns
for thssn b. City contreiisr 8. n. Gsxut-
Ward uoaid thss take thsss bonds %
the strsss and ssll thsaa, nsaslly far isss
than be paid for them. Ths rnoney
thus obtained would be placed 70 his
ensdit 10 the bznk, and bis account
voaid tIAereby Be 90 swsilsd that when
shs check given 10 the Controller wss
prsssnsssd fos psynent, the fundi nsces-
sety 70 mset Il would Be there. This
wis siaiply paying the diEzrsncs be-
tween the amount for which the bonds
vsrs purchased and ths en0anf for
which tlsey were sold, for tie sss Of ths
mf,nsy over night.
This bzsiness. however, coald not 90
On. Victims grew scarce. and Ward
uliat be receiving large amounts Of
money On he could not continue his ep-
erations. The Marine Bank was resort
Cd 70. ssid hare Fish's guilt began He
allowed special account 10 be opened
fer Grant q Ward, and Large amounts
Of mossy were drawn On fictitious seco-
rities- Whsn this became risky. the
monsy was drawn In the nSnes Of vari-
Gus employees Of Grant 4 Ward. In this
vay thousands Of dollars we're drasn in
Tho name Of . eoIoped porter, who never
owned Q dollars worth Of property.
Finally the banks resources were ex
hsasted, and the crisis came. On May
lst, Grant 4 Wards special accsans vas
ousrdrs,sn 100000. The next dag
Fiah, noe thoroughly alarmed, insisted
on Wards bringing collateral for all the
loans. He broaahs q sasshsl which, be
said, contained securities 10 the amount
Of el.4cpWo. The sstehsl was placed
In the xsnit without being opened, and
In o iittls while ward. Who had the free
run Of the baak. cams and carried IL
assay. On The same day the controller
sold ward ei.0o0.0o0 worth Of city
bonds. For this ward gave his nose for
tho full arnount. bat be entered 10 the
bsoks OF the Arm only SO 300, in order
that the employees might not knov that
TIN firm's account was sssrdraWa. The
checks came 10 10 the Marine Bank
fnm shs Clearing House the next day
Saturday. May 8, and Fish ordered
them psid. Tha. night Grant 4 Ward.
acoount was oncs more oyerdrawn "a
thu amsant Of 100000. Ward. how.
ersr. assured Fish that be would get the
money 10 make IL good By Monday
morning. ALI day Sunday he endeav.
cnsd 10 secure funds. bat without avail
B. b. EIkins vas bis intendsd victim
bui Eikius refused to give him the loan
which be requested.
On Monday morning General Gram
was induced BY Ward TO apply 10 VIII
liam II. Vanderbilt for loan Of $50.
600 on his own account. Vanderbilt
ps,mptly gave the General check fol
th, amount requested, and u vas given
10 Ward, who carried 1t to the Marine
Bank and had Il placed 10 she credit oil
his ovn account. Ths next day th,
Clearing House balance against thu
Marine Bank was e5l5. 900. Gathering
together $4,000 in msnsy, with What
securities the bank had. Fish made thu
balances good. Ten minutes afterwart
the doors Of the Marine Bank were
closed. Ths nsxt day the failure OF
Grant a Ward was announced. Tn,
great swindle was as an end.
Ward and Fish we're arrested soon
afterwards ON charge Of conspiracy &
defraud the Marine Bank. Fish, who
was more sinned against than SHINING
goes 10 prison for ten years. Numerous
indictments have bees found aRains
wsrd. and he IL nov In Jail awaiting
srial. The only man concerned In th,
transactions who acted in good faiti
throughout, and who was strictly hon
orabls 10 his dealings. vas Genera
Grant. He vas Thoroughly decsiyet
from the first, and no enc was mors
surprised than he when she bubble bzrst