The Osceola times., 1885-04-04
THE MARINE BANK.
Testimony of James ID. Fish and Ga

Testimony of james ID. Fish and ,,s,.,
Grant at the Triai of the Former.
NEW YORK, March 2s.-Mr. Fish tool.
the stand, and was examined as to tho -
lations between the bank aud the firm =,
Grant Ward. lie said that he ar.,
met Ferdinand Ward In 1876. n.
was introduced by Wards father-
in-law, Mr.. Green, Vice. -Presiden,
OF the bank. Ward told Fish
he was young man OF limited acaualnt-
ance and small capital, but ambitions to
succeed In business, and he solicited
Fish's advice. At the same time Ward
told Fish that he had opportunities
through acquaintances to speculate prof.
itably in certificates of membership in tbe
Produce Exchange, buying them for s9ao
and selling them at from $3.50 to
$3.50 each. Fish lent Ward monev
from time to time to carry
on these speculations, and he afterward
got Fish to go into various schemes
Ward afterward got acquainted with n
S. Grant, jr., and introduced Fish to him
The firm OF Grant & Ward was formed in
1880. Grant, Ward and Fish each sun.
possibly contributed 100000 to the
capital. After this Ward wrote to Fish
The letters were read in evidence. In
them Ward assures Fish that
he has secured Government
contracts and expects to get
larger ones. The letters almost inyaria.
by suggest that Fish send certain
amounts to aid in working up these In.
yestments. Ward also sent Fish each
month statement of profits and check
for Fish's share, ranging from few hun.
dreds up to SAL 900. Many of the letters
are personal, and speak OF Wards sue.
cess, which he attributes to Fish's giving
him start. He calls Fish his second
father.
On March I'd, 1889, Ward wrote: "The
general contract business progresses
well, or the papers will give us fits"
Referring to large grain contract he
had taken he writes "We may not be in
favor long, SO take these orders when
| can get them. There is to be a large
order in April, which may try for II you
say so. Now word as to the
| General. II some OF these fellows down
there lin Washington who opposed the
| bill for his retiremcnD should get wind
of our having these contracts they will
use it as tool to defeat the bill, so am
very careful, and have cautioned Smith
against saying anything. As long as we
keep quiet and do this business In out
side names, and in quiet way, the Gen.
eral will stick by u.s."
After recess the deposition recently
made by General Grant was put in EVIL
| damon In nuestinpa nv
counsel for Mr. Fish, General Grant, ac.
cordlng to the deposition, said
81 am Informed that was partner in
the firm of Grant & Ward at the time the
failure took place. never knew that |
was anything else than special partner.
have dim recollection of receiving a
letter from Mr.. Fish about July, 1882, and
of answering that had good deal to
do that day; that 1t was doubtful
when could go and see him, but that |
believed the matters his firm were en-
gagged in were all right. The letter of
which photographs were published l do
not believe was the letter answered.
don't suppose ever saw the one that was
published. | suppose Mr.. Ward took very
good pains that should not have it.
have searched for the letter did receive,
| Dul all W uhNC nOt ptCu
In the habit of preserving private letters"
The General was shown another Of the
letters purporting TO be written by
him. He said the body of
the letter was obviously not written by
him. He did not remember the letter at
all, and could not identify the signature
as his, though he was not able to say 1t
was forgery. He frequently signed
| huay far Mr. Wnrt
and Mr.. Ward and others connected
with his companies without reading
them. He might have signed this bur
without knowing its contents.
The direct examination extended only
TO the Identification of the letters. The
General then made brief state ment to
the effect that at the time he went
into the firm he had very small in
come, but had some money that his son
had managed and added to for him
while he was abroad, and at his sons
suggestion he went into the firm and
was TO have half his sons share to
live on. There was afterward an
income raised for him, and after that the
firm generously concluded to let him in
as a special partner, as he understood.
On cross-examination General Grant
| DOsltNtlJ tu' iVui
Fish (thc reply to which has been photo
graphedD contained any reference to
Government contracts. He had told
Ward, when Government contracts were
mentioned that there must never be any
engaged in. He had been President Of
the United States, and did not think 1t
suitable for him TO have his name con-
nected with Government contracts.
| Las.
ft In them except by dishonest
measures. He never knew OF
but one Government contract held by the
firm, and Ward told him that consisted
simply in buying $4,000 bushels Of oats
on the Chicago market. He saw nothing
wrong in 1t. Aiterward he heard rumors
that the firm had Government contracts,
aud questioned Ward about it, but Ward
denied it, and said that he would do moth
ing to injure the General Afterward,
Ward, when pushed, explained that the
firm simply lent money to contractors.
General Grant furtner testified that he
did not draw out his alleged enormous
profits, but let them lie, except small
amount and his $4,000 or 100000 per
month. He lost everything he had In the
world by the failure. The night before
the failure Ward told him they had over
$780, 900 In securities, and asked him to
get Sl50,000 from Mr.. Vanderbilt,
which he did, borrowing it per-
sonaly. Ward told him the firm
was In danger because of the
critical condition of the Marine Bank,
which held $3.50, 900 of the firms money.
Mr.. Fish never warned him OF ovcrdralts,
and he did not know that Fish was rals.
ing money for the firm on discounts until
after the failure.