Smyrna times., 1885-10-14
WHOLE NO. 1882.
Ferdinand Wards Story.

AOluiAohu hdAu HAS uuDOsOuc
to a reporter Of the New YorI
Herald, which paper Thursday CAV
two pages to the disclosures Of tn
great financier who tells minutely
the inner workings of the firm Of Gran
& Ward. The story as told by ward il
remarkable in many ways-in showing
the wonderful financial strides Of the
narrator, the vast sums that he handled
and the manner in which distinguished
men were brought into dealings viii
the rascal. Wari says he first came d
New York at salary of SIS per month
as clerk to the superintendent Of tie
Produce Exchange; gradually became
assistant superintendent at 81 500
year; was introduced to Jane G.. Fish
by Sidney Gre9n, a director Of the Ma
rine Bank, whose daughter he subse-
quently married; began speculatiu
with great success with money furnish-
by Mr.. Fish, with whom he shortly
went into partnership; later on ke
made money rapidly from silver mine
purchased by his brother in Colorado
he made the acquaintance Of L. 5.
Grant, Jr., through William :. Ward
and on July 1st, 1850, 4 partnership
was formed, each of three partners put
ting in 100000; the firm contained
Fish, L. :. Grant, Jr, and Ferdinand
Ward, General Grant being admitteC
as partner by putting in $4,000 or
November 1st, 1850, he 10 have one
seventh of the profits and 10 share one
seventh of the liabilities; in about 1
month General Grants interest Was in
increased to 100000, his son Jess
sharing his one-quarter interest with
him. The relation Of the intricate do
doings of the firm has q bewildering ef-
feet upon the reader, and it is not alto
gether clear, upon a casual glance,
where the profits - really did come
from. According to Wards statement
U. 5. Grant, Jr., put S4,152, 900 into the
firm and took out So, ,737 200 his profits
being S;a5, 200, besides drawing out du-
ring the partnership S144,6S1.H more
rs his share of the business. And yet
young Grant had nothing left when
the collapse came except q credit OF
$242, 4126I on his bank account and
the firms paper for S93j,0OO. And 80
the story goes through the wonderful
ramifcations Of pulling figures.
When asked how he could account for
GENERAL Grant coming to the firms Of
fee continually and not making him
self familiar with its workings, Ward
replied think the General believed
that his son, [. ;. Grant, Jr., wss thor
Oughly acquainted with the business Of
the firm, and relied on him, and he also
believed in my judgment and relied on
me-" The young rascal, who doubtless
began his career at the instigatiOn o.
Fish, puts on an air Of injured innO-
cence throughout the details Of his
statement and claims that those pattesl
him on the back while they were max
ing millions out Of his " contracts, nov
leave him to fight his own battle alone
The profits of the firm paid out. &C.
, cOrding to Ward, were over 5000, 600
, varying in amount from one thousand
dollars to over one million dollars
! Warner, Ward says, invested with him
between December 1lth, 1SS2 and MAY
, 9th, 1884, the immense sum Of SIS, 7l5,
500, drawing out during that time SIC.
155, ,9Sl.34, leaving a profit Of g, 40,
/ 1874. Warner shared his profits
Ward declares, with other parties, ana
n when asked what the former had dOn'
q with the real estate and personal prop
r erty turned over to him Just on the eve 0
II the failure, replied: That's what the!
i are after now. 1t was gotten from M
by threats. If / didn't deed the prop
n erty, the men interested with Warne
o would make trouble for me but If
n did deed the property to Warner, tha
4 Warner would try and see that ! ha'
q no trouble with his parties" The stOr.
q Throughout is one Of duplieity am
+ greed, in which the principa! actors de
a cidedly Over-reached themselves. Thl
d man Warner appears, from all appear
ances, to have been the only one VIII
J. managed to secure anything tangibl
n from the wreck. Some may profess {
r believe that the tale as given by Var
/ makes the whole scheme clear, but Q
a many it seems to cast more Of mis-
&c than ever around the whole matter an'
: cause one to wonder how such an i'm
mense sum ofmoney could be inveigle'
7 into South Sea bubble Of such appar
W ent fimsiness.