New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-01-22
SENATOR CHAFFEES SECURITIES
US GRANT, JR,s, STORY CONTINUED.
cow MONEY WAS RAISED FOR WARDS IRANsAc-
uONs-PRoFlTs on PAPER.

cow MONEY WAS RAISED FOR WARDS 1RANsAC-
TONs-PROFITs on PAPER.
The examination of u. 5. Grant, jr., in regard
10 the securities worth half million belonging to his
fatherin-law ex-senator Chalee, which were In the
possession OF Grant Ward at the time OF Its failure
was continued yesterday by Charles W. Bangs, counsel
for j. H. Morris, assignee, before Hamilton Cole,
referee at his Office, No. ITO Broadway
Colonel Frederick ID. Grant sat his
brother The lawyers present. besides Mr. Bangs were
Colonel George Bliss. ". H. Hornblower ". A Purring
ton Charles Alexander and Charles III. Butler. Mr.
Grant testified as follows:
MI Chaaee borrowed 500 900 on bonds and gave me
10000 from him. paid out the 100000 in two
checks $4,000 and Of $4,000, to the order
with $1,000 which was tie profit ON the transaction IN
which Il had been used The $4,000 was returned jay
20, and $4,000 more was returned with 1t "a pr0ht
q Ward for 10000 il addition
on the loans and besides 81 900 that be had rOwed
from the Fourth National Bank The loan to for
six months and the at the bank call loan In
GLIDING the $4,000, was TO pay Mr. Chai.e $4,000
the end OF the six months Previously to May II had
invested IN the contracts $4,000.
Mr. Bmgs-Iiow much did you realize on this 49,,
Colonel Bss-Realzed in creditsi The word " real
tied is little ambiguous in this connection
Mr. Grant-I received $4,000 profit did
Nav o5 so that at that tneI had in al together
belonging to Inc and MI. Chaiiee
Among the checks signed by the witness which we're
placed in evidence by Colonel Bliss at this point, IA
showing the transactions in contracts in which Mr..
Chafee's money had been used, one OF Grant
Ward to the order OF f. Ward for 500 900 The
had been altered to $4,000. Mr.. Grant said
In my memorandum book the amount IL $4,000. I
know gave $4,000 made change IN the check.
Somebody else did. The first date on which
began TO receive credit for any profit those loans
and the principal was returned July II by being trans
fcrTed my account together with S5400 profit. On
from my brother Frederick. and on July II
turned with $500 profit. The loan OF 100000 from
Nj. Chafee became due November II: On that day
transferred 20 his account Sl5OOOO When borrowed
the money | opened no account with Nun, but after
thtt date / allowed him interest on the amount ex-
planned to Mr. Chaee by letter when asked or trans
money and u was perfectly sdie lie sent INC Dlaik
transfers took charge OF Mr. Chaiiees account with
bank account with the firm The recers fof the money
Invested made ont to me- the prohts were payabe
TO me and l transferred them 10 MI W.
him and the frn supposed to make profit and Mr.
Ward also. | do not knew how much the entire profit
was. That Mr. Ward kept 10 himself
In regard 10 an item of Mr.. Chafees account Mr.
Baugs Inquired Was that profit transferred to Mr.
Chadecs account" "Wel." said Mr.. Grant, " II had
$1,000 III bet It was. II was done by check"
while Colonel Bliss searching for the check con-
nectod with the transaction Mr. Hornblower remarked
might be willing To bet that Bliss can't find the check
"lJulgt FROM iiDrnblOwers pr0mptness," responded
Colonel Bliss that he knows something about the
check Wen have HOrnblOwer on tho stand"
Tue check found showing that on January 9,
1854 $500 had been placed 20 Mr.. Chafecs account
as profit one Of the Ward contracts Mr. Grant
unucd The aggregate amount OF the Investments by
me prior To May last was -, 900, and
Was credited with S3,727,2O0, showing
hroht Of 5000, besides ,S7oo0oo outstanding.
Va Ofhce have no recoec0ns OF signing an assign
Geat on that lay. There that was told had