The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1885-07-18
GENERAL GRANT.
His Connection With the Wall street AZ
fair Not Generally Understood.

MS Connection With the Wall Street Ar.
fair Not Generally Understood.
| There has always been matter of
wonder that so intimate friend of Gen.
eral Grants as Anthony j. Drexel.
the Keen and wealthy banker.
OF this city, did not steer him
away from the whirlpool of Wall
Street. Asa matter of fact the General
thought that he was simply a special
partner to the extent of $4,000 with
Ward, and that the operation was an
ordinary business one, and he did not
discuss it with Mr.. Drexel There arc
a good many things indeed about tbis
wan Street horror that are not pener.
ally known. To friend who warned
the General that Wards scheme was
visionary. and that no business could
Yield such profits as were promised
Grant repeated that in any event he wos
liable only to the extent of $50. 600 and
added. ''Ihere are able and experienced
business men who are engaged with |
ward. They would not be likely to take |
part in any foolish scheme. Ward has
a smelling machine in Colorado. too
mat yields very large profits The
General, at Wards suggestion, put some
capital In the Colorado enterprise. Ac-
counts were presented monthly and snb.
United to Senator Chaffee. The Senator
qua not knowanything about this particu.
lar machine. but he knew that there vera
lew concerns of a similar sort in Col
orado reputed to be making money. and
Ine accounts presented by Ward wers
cheering. General Grant. however
his capital from the smelt;ng
enterprise and put it with the rest ;nt5
ne Wall Street business. Lone after
wards relative of Ward called on him
,na sad; General. | want to tell Won
nat Ward is rascal. He never had a
machine of any kind in Colo :
ado, His representation that he had
vas fraud. and the monthly accounts
nat ne submitted to you were all cooked | h
The hold that Ward got upon General +
rant was so absolute as to seem almost .
lcredible. He robbed not only tbe :
enerai but the Generals family and a
'iatlves as well. For example. here q
re some facts and figures that have !,
ever before been made public: The
'use on Sixty-sixth Street in New Yort
lat was bought for General Grant q
nelly by gentlemen of PhiladeInbia m
as valued at $4,000. II was asoar =;
med that there was mortgage mon ~
Tor $4,000. The mortgage for some m
ason could not be removed at once
"a check for the amount was placed RI
the Generals hands. Ward by skilI- n,
maneuvering soon managed to oet ov p
Ia OF the check. Before the failSre A.
neral Grant made over to his wife a ~
arter OF the $40, 900 which he derives ba
er certain payments, from the trnst th,
ID OF S25O,00 raised for his benefit So;
ard got that, too. He also succeeded m,
getting $4,000 that Nellie Grant had If
'ed up from her pin-money: S25. OO0 del
m Mrs. Honore. of Chicago. Fred -
ants mother-in-law; Sc 5000 of the
ings OF Mrs. Honore's daughter Ida
IDS wife; and $685. 900 from Mrs Tn,
lemer' the Generals sister, besides
thousands that he got from General ,
mt Buck, and the rest of his victims
en- the crash came the Grants had pet
SO completely bled that thew had fig
than 500 in cash among them roo
adetphsa Cor. Chicago Tribune. I"