The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-05-01
The Napoleon Of Finance" Re-
leased From Sing Sing.
HOW HE swlNpLEo GEN. GRANT.
He Emesges From Prison in New Suit
Of Clothes, and Has . Million Dol
lars Hidden Away Somewhere.

the great money mart of the United states and
when all Wall street echoed his praises. This
son OF q Baptist minister startled the world by
his daring schemes and the ruin he brought
upon his friends. He stepped out OF prison
yesterday after six and half years of service
in convict garb not AZ years of age. l: was on
October 81. 1885, when he stood up in the pris-
oner's dock Of the court Of oyer and terminer
In New York city and received with apparent
NEUTRALITY-SUSPICIOUS. scorn-the sentence of
the court, that he be confined in Sing Sing
prison, at hard labor, for q term OF ten years BY
rood behavior it was reduced to six years and six
months. On November he donned the prison
earb and was put to work on cleaning castings
In the stove department. From there he was, In
time, removed to the prison printing office, OF
which he had full charge. He has become an
expert printer, and has turned out some very
creditable work, among the best specimens be-
ipP q handsome calendar for 1892
During his stay in prison Ward has been re-
served and taciturn in discussing his affairs,
and few OF his fellow convicts ever heard the
sound OF his voice. OF his future plans he said
nothing. He is the same morose, uncommun-
icative man that he was six years ago. He ac-
cepted the tasks imposed upon him without
comment or protest. and never complained Of
anything. He had asked for but one favor since
be had been in prison. That was when his wife
diei two years after he reached the prison. He
wanted to gaze upon her features In death, but
the law forbade 1t. and he accepted its decree
with resignation. He has been a model prisoner,
but without any display of repentance.
In personal appearance Ward has changed
much during his incarceration. There were
few gray strands in the sparse covering of dark
brown hair which partly covers his head. The
only features suggestive OF age were dim hol-
lows under his eyes and a drawn expression
about the mouth. His nose is long. his cheek
bones high and prominent; his mouth small
a,A &rvr hfaa all II
face is yet sufficiently sallow to preserve tho I'M
pleasant expression, almost sinister, when he in
dulgcs in one of his rare smiles, for which
be was noted in his palmiest days He IL quick
and nervous in his movements, and his
syes, ever FESTIVE, anticipate every. action.
Ward had made elaborate preparations for his
exodus from Sing Sing. A few weeks ago he
sent to New York city for tailor, who took his
measure for several suits of clothes. A shoe
maker also went up to, Sing Sing and took
orders for three pairs of shoes. 1t is said that
when Ward is released he will be anything but
apoor man. When he went into prison he had
t2ls on his person, which was returned. Aside
from this his financial condition is unknown.
Perhaps some OF the money he and the mysteri-
Gus spencer are said to have made, or Q few
thousands OF the amounts he paid to the wit
ness Warner " in the ordinary course of bust
ness" which could not be explained at the
trial, were laid aside for his benefit. million,
ct least. OF the enormous profits Of Grant &
Ward has never been accounted for.
The story of Wards life from the date of his
birth at Genesee in this state, in 1851, till his
arrest in 1855 is q remarkable narrative. At II
be was sent to a preparatory school at Prince
ton but trouble with his eyes compelled him to
leave his studies and return home. He worked
In carpenters shop for six months, leaving 1t
TO establish and publish an amateur journal.
This venture was not q success and he en-
barked in the study OF law. He afterward
worked for s25 q month in the New York pro-
duce exchange. After three years he was made
assistant superintendent at a salary of 1850
year. He became a member of DR.. Storr's
church in Brooklyn and was treasurer OF the
eunday-school. Here he met the daughter of
Sidney Green, a director OF the Marine bank.
Green introduced Ward to President Fish,
and after short acquaintance Ward and Fish
engaged in the stock brokerage business
Later Ward, Fish and a son OF General
Grent became stockholders In the Evening
Star mine in Colorado. The friendship be-
tween Ward and U. s. Grant, jr, grew, and July
l. 1880, they formed a partnership under the
name OF Grant q Ward, brokers. Fish was the
firms chief adviser. Young Grant induced his
iaiher to invest $4,000 in the business, and al
though the general took no active part in the
Firms management, Ward and Fish encouraged
the impression that the general was at the helm.
Early in 1851 stocks fell, and the demands
Ward resorted to borrowing money at high
rates of interest, hoping that when the market
recovered he would get even. He began TO ex-
eeute imaginary contracts for business between
members OF the firm and mythical personages.
In this way the firm was seemingly doing an
enormous business. Az an evidence of the
amount of this business young Ulysses Grant
was credited with s77O,42i profits up to
August, 1883. The reports of these great
profits, all manipulated on paper
BY Ward, gave the firm the reputa-
ton of being one of the leading financial
Institutions in the world. People, trusting to
General Grants integrity, put money in the firm
ana were paid exorbitant rates OF interest Ward
Kept things going by using the money of one in
ventor TO pay another's interest and premium
On Investments. Nobody but Ward and Fish, IL
was and is still believed, knew the real condi-
ton of the affairs of the firm. May 4, 1884. the
Marine bank became hard pressed for funds to
meet a check for $4,000 drawn by the city.
Ward went to General Grant, and by falsely
representing the true condition of affairs, IN
cuned the general to accompany him to the
house OF W. H. Vanderbilt where the general
secured a loan of Sl5o,oo) Ward could not bor-
row the remaining sl5o,oo0 and the failure oc-
CURED on May s Before it became known
Ward gave U. 5. Grant, ir., check for si5oooo
payable to the order of Vanderbilt, who re-
eeved it
The Marine bank, In which Fish and Ward
We're interested, had an account with Grant &
ward. II invested money through the latter
nsn aud got back profits aggregating 100 per
cent On one occasion the bank received
t2,0o0 for the use of 100000 for ninety days.
These enormous rates were realized by hypothe-
cation. sitting reindorsements and renewals
MI Warner was a customer of Grant & Ward.
aud Ward says he made over 81 900, 900 profit out
o. the firm. The day following the failure Ward
gave Warner all his property There has always
existed suspicion that Ward and Warner dedn-
~sly understand each other.
Al the time o! the failure II was feared that
al Of General Grants property would have to
60 He pledged his personal possessions to W.
H. Vanderbilt, but they were afterwards re-
ceemed - his family by friends The general
sled on July a. 1855, three months before the
S'al, and the faint upon his name no doubt was
factor in precipitating the fatal results of the
cancer which destroyed the vitality OF his body.
The failure OF the Marine bank was not attri-
euied TO Ward so much as to Fish. The latter,
a president. was censured for negligence in not
seeing that the loans to Grant & Ward were
properly secured. 1t was the lack OF security
Tor large sums loaned that drew the firm of
GTsnt & Ward into the breach of ruin
General Grant and his three sons, Fred. Ulysses,
l, and Jesse, gave up all they had. The spec
tsce OF the great soldier stripping himself in
his old sge OF all that might have made him in
dependent msddened the people. and they de-
nAnded revenge Ward. The city, too, had
lost million through him and Fish, and on
Nay u he was arrested st the instance OF City
chamberlain Tsppan. He was treated with
distinguished courtesy at first, and lodged at
sne Sinclair house. but finally reached Ludlow
street Jail where he was Joined by his partner
Fish Eve days later. The latter was sentenced