New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-10-16
s. HASTINGS GRANTS STORY.
HIS RELATIONS WITH FERDINAND WARD.
IN DIRT To THE YOUNG NAPOLEON OF FINANCE
annosI>rC I,XInENCE.

IN DEBT To THE YOUNG NAPOLEON OF FINANCE
WHILE CoNTRoLLER-oPPosING EVIDENCE.
Ex-Controller S. Hastings Grant was the hrst
wituess before MIR. Gibbss Committee yesterea go
He testified that the sureties on MS bonG were
Ferdinand Ward. james ID. Fish. Charles we
Morris X. Jesup and j. NJ Deyeau, president Vi
the Mount Morris Bank He SAID:
I had business relations with Ferdinand Ward e!.
tending period OF ten years was lheo t ~
hun at the time he became my surety NOT Know
how far nv private business with Mr. Ward can be in,
CURED into ny eh ho co had continuous business
tons with Mr. Ward while was Controller: inGy "olu
OF a prlyae nature and were not conbccted win my
oiNcia duties The money loaned me was furnished ny
Ward personally.
The witness was again asked what was the ma
fure az the indebtedness and again declined 10
answer Chairman Gibbs thought tie Inquiry per
fIpent as relating TO the Marine Bank, the ofhcers
Of which were MS sgSete Mr. an was then
questioned closely as to the renarEaoi lhc,easo ~
the city moneys in tee Marine Baak from the tlme
when he became Controller until tho failure OF me
bank beginning with $241 900 IN August, 1883.
and reaching 81 100000 a few days before tne
failure of the bank. He professed to be unaoie 10
explaln this except that 1t was the actlch OF inc
CITY ChambeTlain, whose duty IT was 10 MAKE me
deposits. He had no direct control over we te
deposits and could not compel the ChainberIa II 70
deposit IN particular banks. The b0ard having INC
mower 10 name repositories OF city money consists
of the Mayor, Controiier ana ClIv CaaLno ts
MIR Grant could not have refused - make Trans
fers II the Marine Bank when he roma IhaC C VIC
balance was so large The law makes the CIV
Chamberlain responsible and gives nun lne Po"ci W
make deposits. Mr.. Grant denied that MI. BarIHtI;
the bookkeeper of the Finance Department, cauou
his attention 70 the large amSeTt on M have war
rants drawn TO reduce it. In answer to the
counsel. he said: ann
lam not entitled to the credit OF saving the city 5000
600 which was drawn ont of Marine Bank just be-
fore the failure. The Chamberlain Is emitted 40 IN
credit Mr.. Ward came TO M ana asked INC ~ e9p hS
CIV finds I'm the Marine Bank told him that had
not the power that this power belongca 10 .no .
berain was alarmed when Ward made that request
few days before the failure OF the bank ana spoSo
to Mayor Edison about It ro Sd 70 me mof nv tho
aST,"0 70 reduce the balance the Marine Bank
Q-D You DO ahyhi2g t cbrc bToprGt yoG by the
Chamherlan even after you alarmed at the cond,
ton OF the 4doS Of the bank It was Mr. Wards
alarmed me did not know tn r oaS wrong in
allowing so large an amount OF money 10 ITO III '"e ""
Isaac s. Barrett, chief bookkeeper in the Finance
Department was recalled aud testihcd tlat on
three occasions called the attention OF tne CoIl-
trailer 10 the large amount on deposit In the marine
Rank and express ID his belief that IL was ton large
FOR the capital of the bank On Nay l, 1854. me 9
DAYS before the bank failed, lie ha4 asa.H c" NJ
Controller Grants attention to tee matter. MI
Grant then sent for the Deputy ChamberlIA ahl
transfer warrant for $500, was drawn on tne
Marine Bank and subsequently, another waI TAM
Far the same amount. j. Nelson Iappan, tho CITY
Chamberlain, had been sick for several weeks anu
his deputy, Mr.. Gil!sy, wasactlng III ms place, &c
Ferdinand Ward was in the antefeoIn most OF
the morning IN charge of Warden hlernan, "f the
Ludlow Street jail. lie was Consulted Graslon-
aliV nv Senators GlnnS anu NuuS'p'h' w.
moi placed on the stand because he wlshei TO CON
suit his counsel before doing so. lie tod senators
Gibbs ana Comstock that he wished " ana tnG
COMMITTEES in its Investigation If his counsel
X. w. Montgomery testified that Controller
Grant asked him to make out receipts Ter revenue
bonds to Grant & War1 but he told him that lie
could not do 1t until ne got the money. Gra ran q
Ward subsequently, purchased 81, eOo.o9o OF rev
enue bonds Tor which they paid III checks, ana gu
April %, 1851 be deposited one OF the checks iot
$500 600 Ill the Marine Bank because Tue acc4 5,
N tie Importers AID Traders Bank k was tSod Ig
we'll of the Marine Back The witness also tesyl-
fled that Controller Grant asked hin some weeKs
before tine failure Of the Marine Bank If lie c0ut,
not increase the deposits there and that he asked
TIE 'optrcll Ter if he wanted him to do So
MIR Grant" the witness said, Gld not say
no. and understood that he would IKE TO nave
II done Itold hiln that could deposit The money
froen the drawer but could not make transfers from
other banks" ,.o. .,o s+ool,
Wakernan H. Dikeman, who has been the stoc
and bond clerk in the Controllers office for forty
wears testified that before Mr.. Grants time ne re-
ceiyed the purchase money for bonds but that
after Mr. Graut took the office the money was re-
eeiyed by the Chamberlain. -, !, ,i1
Ferdinand Ward Will probably DC eAa'ni-ou
to-day.