Morning appeal. [volume] (Carson City, Nev.) 1877-1906, 1885-10-11
WARDS METHODS.
HE TELLS HIS REMARK 4 BILE
ST0EN IN COURT.
Az Extraordinary Narration OF
Retrayed Trust.

| DeEalu QCFOtcS bWO ial PoSS" W
!. story which Ward, the defaulter
tells, and which he alleges is full
and complete. The following ar
| extracts: Ward has two rooms IL
| Jail, his counsel Several of them
and witnesses many IN number, ant
| his accounts. Quite number util
ize the larger Of the two as an Of
| fee, in which to prepare for the
forthcoming legal investigation
The smaller room contains a bed
two cheap chairs and bureau
Ward is tall, thin and pale. His
head is the reproduction of that Of
William N. Evarts at the age Of
thirty. He states that he made the
acquaintance of the Grant, through
his brother. an assayer, who was a
friend of U. S. Grant Jr, or Buck
Grant, with whom he and Fish
formed a partnership for the pur-
chase and sale of stocks and bonds,
each putting in 100000. AT
Bucks request his father was ad-
mitted with $4,000 to receive one
seventh of the profits of the firm
| Then Jesse was taken in by the
| General, to share his own interest,
which he doubled by adding an
other $4,000. In the early part
Of 1882, the stock merket depreci-
ated. the losses sustained by the
firm, became so heavy that | re-
sorted to borrowing money at high
rates of interest, hoping and ex-
pecting that l might, through 4
more active stock market in the
future, get even again. This was
my first false step. was in a cor
ner. The people who held our pa
per expected tremendous profits,
and l wys anxious to retain the
reputation l had gained"
HOW THE WORK WAS DONE.
From this time, the descent into
their peculiar mode of obtaining
loans and paying them appears
rapid. Col. Grant became an oper-
ator. He would take, say 40
New York, Chicago, or St. Louis
second mortgage bonds, the proper
ty of Grant & Ward, borrow from
bank or other place, 100000 for
twenty-nine days at legal interest
or whereabouts, aud at the expiration
of thirty-fve days would receive
not only the 100000 but $4,000
as a profit, less the legal interest,
on 100000 for thirty-fye days.
There is a volume of this kind of
receipts, some of which are in the
name of Grant & Co., by Grant &
Ward, and some by Grant & Co.,
meaning a combination between
Ferdinand Ward and Col. Grant
Here is specimen receipt:
New YORK, Jan. 2, lS04.-Re-
ceived from F. D. Grant, 100000,
to be placed to account of Grant &
Co. Special. GRANT & Co.,
By GRANT & WARD,
Across the face of it was PROF.
its. 100000"
The n,odns operandi, so far as the
Marine Bank was concerned, APP
pears to have been this g: Grant &
Ward would make series of notes,
which they would hand to the Ma
rine Bank, getting what they could.
These notes Fish would assign to
different parties. For instance,
January Is, 1884, there would be
issued by Grant & Ward notes to
the amount Of 100000, in various
sums, from $4,000 to $4,000. On |
these they would accept as much |
as Fish, President of the |
Marine Bank, saw fit to give them.
Fish would then take the notes and |
divide them. assigning a portion to
the Marine Bank, a portion to Mel |
son Tappan, portion to himself,
portion to the Oriental Bank, a
portion to Yates & Porterfeld, a
portion to Samuel Bingham, cash
Ter of the Windsor Bank, Connec-
lieut., a portion to Benjamin Fish,
paying teller of the Marine Bank,
and a portion to B. W. Spencer,
Treasurer of the Erie Railway Com
oany, each of these parties being
benefited by discounts at the time
or by profits at the expiration of
he notes, and Fish would enter
n b;o oUn handwriting on a mass