The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1885-01-16
VANDERBILT AND GRANT.
A Generous Creditor has His Way.


|
General Grant recently notified the gen
tlemen who were raising the money to lqui
date anderbilt's claim against him that b,
could not receive 1t. The following CORE
spondence explains the subsequent proceed
ing', and is alike creditable to all con
cerned:
NEW YORK, Jan. 1.-THE following let
ter was sent TO Mrs. U. S. Grant by Mr.
| w. III. Vanderbilt:
No. $40, FIFTH AVENUE, Jan. 10, 1886
MRS. ULYSSES S. GRANT-Dear Madame
SO many misrepresentation have appeared
In regard to the loan made by me to Gen.
Grant, aud rejecting unjustly upon him and
myself, that 1t seems proper briefly to recite
the facts. On Sunday, the 4th of May last,
Gen. Grant called at my house and asked
me to lend him S150,O0O for one day.
gave him my check without question, not
because The transaction was business like,
but simply because the request came from
Gen. Grant. The misfonunss which over
whelmed him In the next "a hours aroused
the sympathy and regret of the whole coun-
try. You and he sent me, within few days
Of the time, the deeds of your joint proper
ties to cover this obligation, and urged my
acceptance on the ground that this was only
debt Of honor which the General had per-
sonally incurred, and these deeds returned.
During my absence In Europe the General
delivered to my attorney mortgages upon all
his own real estate, household effects, and
swords, medals, and works of art, which
were memorials Of bis victories and presents
from governments all over the world. These
securities were in his judgment worth $780,
700. At bis solicitation necessary steps were
taken by judgments, ETC., to reduce these
properties to possession, and the articles
mentioned have been this day bought In by
me, and the amounts bid applied in the re-
duction Of the debt. Now that am at lib.
erty to treat these things as my own, the
disposition of the whole matter most In &C.
cord with my feelings is this: To you, as
your separate estate, the debt and judgment
hold against Gen. Grant; also the mort.
bold furniture and ornaments, coupled only |
with the condition that the swords, commits. |
sions, medals, gifts from the United States,
cities and foreign governments, and all arti. |
cles OF historical value and interest, shall, at |
the Generals death, or IL you desire II,
sooner, be presented to the Government at |
Washington, where they will remain as per.
petual memorials of bis fame and Of the his
tory of his time. | inclose herewith assign
ments to you Of the mortgages and judy
ments, the bill Of sale of the personal prop
erty, aud the deed of trust In which the arti-
cles Of historical interest are enumerated.
A copy of this trust deco will, with your
approval, be forwarded TO the President Of
he United States, for deposit In the property
department..
Trusting that this action will meet with
7our acceptance and approval, and with the
,indest regards to your husband, 1 am
7ours respectfully,
w. II. VANDERBILT.
New YORK CITY, Jan. 10, 1Ss5.-w. II.
fANDERBILT-Dedr Sir: Mrs. Grant wishes
ne to answer your letter of this evening, 10
ay that, while she appreciates your great
In transferring to her the mort
ages given to secure my debt of $50. 900. |
he cannot accept 1t In the whole. She &C. !
epts with pleasure the trust which applies
o the articles enumerated In your letter to 1
o TO the Government Of the United States
I my death, or sooner, at her option. In :
bis matter you have anticipated the dispo-
ition which had contemplated making of q
he articles. They will be delivered to the
Government as soon as arrangements can be
lade for their reception.
The papers relating to all the other prop {
rty will be returned with the request that Il
on have 1t sold, and the proceeds applied TO 9
ne liquidation Of the debt which so Justly v
We you. a
You have stated In your letter with the 4
linutest accuracy the history Of the trans n
,tion which brought me into your debt. ii
ave only TO add that regard your giving a
70 your check for the amount, without in Il
airy, Is an act Of marked and unusual "
iendship. The loan was to me personally.
obtained the money, as believed, to carry
10 Marine National Bank over day, being
sured that the bank was solvent, but g
Wing to unusual calls, needing assistance | pl
ltil 1t could call In Its loans. was as p
red by Ferdinand Ward that the drm of ii
rant & Ward had over $500 900 to their N
edit at the time in the Marine Bank, be- dl
ies 81, 300 900 unpledged securities In their th
vn vault. M
cannot conclude without assuring you bt
ct Mrs. Grants inability to avail herself of th
ur great kindness In no way lessons her
nse Of obligation or my own.
Yours, truly, u. s. GRANT.
W. II. Vanderbilt, Esq, $40 Fifth Avenue.
NEW YORK, Jan. 11.-GEs. u. s, GRANT =.
My Dear Sir: On my return home last r. r..
ght, found your letter In answer to mine ~
Mrs. Grant. ! appreciate fully the senti M
'nts which actuate both Mrs. Grant aud ~,
urself In declining the part Of my pr)po- -
ion relating TO the real estate. / greatly ~
yret she feels 1t her duty TO make this de- =. ~
ion. earnestly hoped that the spirit in -
Itch the offer was made would overcome ~,
Y scruples In accepting 1t, but must in r r.
!. / shall not be defeated In the purpose -,
which have given 80 much thought, and ~,
ich have so much ct heart. l will, -
refoIe, % fast - the money is received -"
m the sales of the real estate, deposit 1t In -,
Union Trust Co.; with the money thus =.
LIKED. l will at once create with that com. !. -
" trust, with proper provisions for an y,
ONE TO be made for Mrs. Grant during -.
life, and giving power to her to make ~ ~
b disposition Of the principal BY her will -
The may elect. Very truly yours,
w. III. VANDERBILT. i0i