The Middlebury register and Addison County journal. [volume] (Middlebury, Vt.) 1883-1885, 1885-01-16
AN OFFER DECLINED.
The Grants Refuse Fortune
from w. ii. Vanderbilt.
he Buys in Their Property and Of
fers it to Mrs. Grant.

Mr. William H. Vanderbilt, who obtained
Judgment against General U. S. Grant for
100000 lent him to ward Off the failure of
the Marine bank, bought in the real estate
and presents of the general named in the bill
OF sale. He then presented the property to
Mrs Grant for her separate estate but she
has declined to receive it, The following cor
respondence will explain the matter fully:
$40 FIFTH AVENUE, Jan. 10, 1885.
Mrs. ULYSSES $. GRANT-Dear Madam
So many misrepresentation have appeared in
regard to the loan made by me to General
Grant, and rejecting uniustly upon him and
myself, that it seems proper to briefly recite
the facts. On Sunday, the 4th of May last,
General Grant called at my house and asked
me to lend him 100000 for one day. gave
him my check without question, not because
the transaction was business like but simply
because the request came from General Grant.
The misfortunes which overwhelmed him in
the next twenty -four hours aroused the SYM
pathy and regret of the whole country.
You and he sent me within a few DAYS of the
time the deeds of your JOINT properties to
cover this obligation and urged my acceptance
on the ground that this was the only debt of
honor which the general had personally in
Cured, 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 the me
MORALS of his victories, and the presents from
governments all over the world These
securities were in his judgment worth the
$lj0,000.
At his solicitation the necessary steps were
taken by judgment, etc. to reduce these
properties to possession, and the articles men
toned have been this day bought in by ire
and the amounts bid applied in reduction of the
debt. Now that | am at liberty to treat these
nc m of ha yyh
matter most in accord with my feelings is this
present to you, as your separate estate, the
debt and judgment hold against Gen Grant,
also the mortgages upon his real estlte and all
the household furniture and ornaments, coupled
only with the condition that the swords, com.
missions, medals, gifts from the United States
States, cities and foreign governments, and al
articles of historical value and interest, shall
at the generals death, or, if you desire it.
sooner. be presented to the government at
Washington where they will remain as per-
petual memorials Of his fame and of the his
tory of his time.
/ inclose herewith assignments to you Of
the mortgages and judgments, bill of sale OF
the property, and deed of trust, in which
the articles Of historical interest are enumer-
ated. A copy of this trust deed will, with
your approval, be forwarded to the President
of the United States for deposit in the proper
department.
Trusting that this action will meet with
your acceptance and approval, and with
kindest regards to your husband, am yours,
respectfully, w. II. VANDERBILT
DECLINED WITH THANKS.
New YORK CITY, January 10, 1885.
DEAR SIR: Mrs. Grant wishes me to an
swer your letter of this evening" to say that
while she appreciates your great generosity
in transferring to her the mortgage given to
secure my debt of Sl50,O00, she cannot accept
it in whole She accepts with pleasure the
firms IN pl los tod in
your letter to go to the government of the
United States at my death or sooner, at her
option. In this matter you have anticipated
the disposition which l had contemplated
making Of the articles They will be de-
livered to the government as soon as ar
rangements can be made for their reception.
Papers relating to all other property will
be returned, with the request that you have
it sold and the proceeds applied to the liquida-
ton of the debt which | 50 justly owe you
You have stated in your letter with the min
utest 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 a day, being as
sured that the bank was solvent. but
owing to unusual calls needed assistance
until it could call in its loans / was assured
by Ferdinand Ward that the firm of Grant
a Ward had over 5000 U TO their credit at
that time, in the Marine bank beside ST.
10000 of unpledged securities in their own
vaults.
] cannot conclude without assuring YOU
that Mrs Grants inability to avail herself of
your great kindness in no way lessons either
her sense of obligation or my own.
Yours truly, L. S. GRANT.
w. VI. Vanderbilt, Esq.
HE WILL NOT BE DEFEATED.
$40 FIFTH AVENUE. Jan. IL. 1885.
GENERAL u. S GRANT-My Dear Sir: On
my return home last night ! found your let
ter in answer to mine to Mrs. Grant. | APP
preciate fully the sentiments which actuate
both Mrs. Grant and yourself in declining
the part of my proposition relating to the
real estate. | greatly regret that she feels it
her duty to make this decision, as | earnestly
hoped that the spirit in which the Offer
was made would overcome any scrllples
IN IN accepting it, But I must insist
.nat l snail not be defeated in
purpose to which | have given 50 nluch
Ihought and which ] have so much at heart,
VIII therefore, as fast as the money is re-
ceiVed from the sales of the real estate. de-
post 1t in the Union Trust company.
Mth the money thus realizedI will at once
create with that company a trust. with
proper provisions for the income TO be paid
~ MIS-. 'rant during her life, and giving the
power to her to make such disposition Of the
principal by her will as she may elect. Very
truly yours, '
WILLIAM H. VANDERAILT.
ACCEPTED BY THE GENERAL
NEW YORK CITY, Jan. II. 1885
DLAR SIR-Gour letter of this date is re
celVed. Mrs. Grant and | regret that Won
cannot accept our proposition to retain the
property which was mortgaged in good faith
to secure debt of honor But your generous
determination compels us 10 no longer resist
Yours truly, u. S. GRANT
w. H. Vanderbilt
REFUSED BY MRS. GRANT.
NEW YORK, Sunday, January II, 1885.
MY DEAR Mr.. NANDERBmT-Upon read.
ing your letter Of this afternoon, General
urant and myself felt that it would be I'M
gracious to refuse your princely and generous
oner. Hence his note TO you. But upon re,
lection find that cannot, and will not ac-
>ept your muniticance in any form.
beg that you will pardon this apparent
vas 'lllation and consider this answer definite
and final '0
=. with great regard and a sense of obliga-
uon that VIII always remain, am
Yours, very gratefully,
To VIM H. Vanderbilt