The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1886-08-28
COL. FRED. GRANTS FINANCIAL
TRIALS.
Harper's Bazaar,


A side view of Colonel Fred Grants face reminds
one strongly of the General, but front view
loses much of the resemblance. The Colonel
wears beard and mustache, has a sun-burnt
complexion, and is fond of smoking as his
father He is still very sensitive about Grant
Ward matters, although never q member of that
firm. few days ago. while referring to an az;
upon Grant Wards handling of some Mexican
bonds, he said: at is little hard that should
be subjected to so many unkind insinuations,
when lost every dollar had in the failure of
Grant & Ward. When the crash came, 1 found
myself in debt to the amount of over $4,000 I
have bought scarcely suit of clothes since, and
have succeeded in paying $5O0,UO0 of my ooliga-
tions. Whenever l have been able to save any
thing, have set it apart to meet my debts. This
morning 1 received $500 from publisher for
writing an article on the war. l at once deposit
ted the money for the benefit of my creditors. L
am now connected with a company that furnishes
the woodwork for new buildings. own no stock
in it, but am simply employe. When I grad
uated at West Point father gave me 81 900, and
mother gave me another ST 900, to have o good
time with. 1 happened to meet Mr.. John Hoey,
of Adams Express Company, and he said that the
stock of the company bound to raise very
soon. I gave him my $4,000, and contented my
self with entertaining some of my classmates at
fathers house at cost of only $40 or $50. The
stock went up," continued Colonel Grant, "and
by reinvesting my dividends, and adding to them
what 1 could save from my salary as lieutenant,
| had $4,000 in about four years. A son of Jay
Cooke, after his fathers failure opened banking
house in Washington, and 1 invested $4,000 with
him. In few months his partner, Sherman a
relative of Senator John Sherman, started in bust
ness on his own account, and 1 invested $4,000
with him, part ofit borrowed from friends. lost
| LIT
stocks at Chicago soon enabled me to recoup, and
these were followed by investments in real estate
similarly fortunate. One day in New York met
Ferdinand Ward. By his advice bought some
Western Union stock, and cleared 5000. Then 1
took desk in the Office of Grant q Ward. l had
1000, AMI every dollar of it was invested with
the firm. Not penny was left after the failure.
l thought Ward had government contracts, and at
one time my suspicious were aroused as to his
methods of obtaining them. I made investiga-
tions, but could detect nothing crooked. The
fact was that he never had any government con-
tracts at all, and was ON the wrong scent. In
addition to my obligations of 100000, 1 owed
$l5 900, which friends of mine had invested with
the firm, and had lost outright. One of these
friends was a relative in Chicago, who had sent
me $4,000. I have already refunded to her one
half of that sum. I have good many attacks
from the newspapers but do not know that
ever gave cause of offence to anybody. L shall
not be satisfied until every dollar lost through my
advice shall be restored to its rightful owner. 1
believe that Ferdinand Ward is now worth at least
So 600, 000."