Evening journal., 1891-03-25
ONE CENT.
MRS.U.S. GRANT 'SSTOCK
--~---
AS It Failed to Pay Her ANY
Dividends
SHE DESIRED 10 EXCHANGE IT

Her Interesting letter 20 President John
u. Rockefeller, Of the standard oil Conn
pauy-she Thought the Trust Backcd
the steam Company, but II Did Not.
NEW YORK, March e5-A strange mis-
understanding has arisen between the
widow of General u s. Grant and Wallace
G. Andrews in relation TO the investment
Of a large sum Of money. The amount ia
question is $4,000, and according 10 state.
ments which Mrs. Grant has just made,
Mr.. Andrews was intrusted with this sum
for investment by Mrs. Grant, but he did
not invest il in exactly the way that Mrs.
Grant intended or was led to understand
at the time.
She Wrote 10 RockefeIler.
The statement Of Mrs. Grants side Of
the case, as referred TO above, Is contained
in long letter which was received by
John y. Rockefeller, the Standard Oil
king, on Monday last. II was written by
Mrs. Grant and it stated, In substance,
about as follows. Some three years ago
Mrs. Grant, knowing that MIR Andrews
was "A stockholder in the standard Oil
trust, had asked him to invest t55,0o0 for
her in the stock of that exceedingly pros
porous corporation.
lie Had Bigger scheme.
Mr.. Andrews informed her, she writes,
that he was about selling out his Standard
Oil stock and was going into a much big
ger thing. and he advised Mrs Grant that
there would be great opportunity for the
investment Of her 5000 at better advan
tage than in the Standard Oil stock If She
would come in on the ground floor of the
new enterprise.
Thought the Standard Was in II.
The scheme which Mr. Andrews referred
to was the New York Steam company, the
concern which keeps New York supplied
with volcanoes in the streets and spurts lbs
mingled sewer gas and steam into the nos.
trils Of down town pedestrians
Mr.. Andrews and others were organizing
this company at that time, aud Mrs Grant
says she got the impression from Mr. An
| drews' conversation that the Standard Oil
magnates were behind the steam company
as its financial hackers, and that their all
powerful influence was going to make it
perfect bonanza.
She Wanted II Transferred
On this understanding-that the steam
company was virtually Standard oil en-.
/ terprise-Mrs. Grant says She gave Mr.
Andrews her check for s55, COO and he trans
ferred to her "A block Of stock ia the New
York Steam company.
Mrs Grants object in writing to Mr.
Rockefeller, who Is president Of the great
Standard Oil trust, was TO ask him. She
said, TO please be 50 good as 20 have her
stock in the steam company exchanged
- ~ IA. 4. 4..fI A.
Grant naively explained-with Il woman's :
idea of business-that she was tired Of
waiting for dividends on steam stock
which never came, and she wanted her
shares exchanged for those Of the oil mon.
opoly, which pay big dividends with great
regularity
John ID. Rockefeller Explains.
Mr. Rockefeller was greatly surprised at
this letter from Mrs. Grant He made
haste TO answer IT,, assuring her that he
was powerless to grant her request as to
the exchange Of stock
He explained at length that neither the
Standard Oil trust nor any Of it's trustees
were the hackers or promoters OF the steam
company, either directly or indirectly, and
that they never had anything Go do with
the affairs of Mr., Andrews company Any
impression that steam companys certih-
Gates could be exchanged for STANDARD Oil
trust shares was entirely unwarranted, AS
70 Mr.. Andrews himself, he had not been
connected with the Standard company for
several years past.
1t was too late to find Mr. Andrews when
this story leaked out, and his version Of il
was not learned last night. 10 is quite
likely that the misunderstanding between
Mrs Grant and the president OF the steam
company may yet be referred to the arbi-
trament Of the courts for settlement.