The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-08-10

pany built, az an enormous expense a
gallery called the Victor Emanuel Gallery
~ was opened with great pomp by the
King In person, and Albert Grant. who
was present was created 2 baron of the
kingdom OF Italy.
The prosperity Of the new firm was very
great. Nothing could succeed that was
introduced without their auspices. and
nothing could fail, however bad. ~ the Ba-
ron had the engineering OF Il. Railway
ana other companies which wanted mon
ey Tor legitimate works issued the most
auuring prOspectuses. but the public
would not subscribe. and they were COM
PEELED to go to the baron. who would re-
write and reissue their prospectuses-
then the public would rush with eagerness
10 put in their money A large firm was
inviting subscriptions 10 a loan for for
elgn state, and applied for assistance and
advice to Baron Grant, who wrote the
prospectus and sketched plan of opera
ton. The undertaking was successful
ana the firm sent the baron a check for
ten thousand pounds, which he returned
with the remark that If his services were
not worth more than that they were worth
nothing. Such was the firms dread Of his
enmlty that they sent him another check
Tor twenty thousand pounds, this time the
baron condescended to keep the money.
The Emma Mine" episode ought stul to
be remembered I'm both America and Eng
land. When the stock of that concern
was put upon the London market Albert
Grant had the handling of IT, IL was he
who put at the head of the prospectus.
as bait for investors, the name Of Gen.
Schenck, the American minister TO Eng
land. What a scandal that caused! 1t is
estimated that Grant made cool two mil
lion dollars out of that venture But il
was fatal TO him. There was SOME men
among the sWindled investors who OBJ
Jected to being swindled, even by a ba-
ron; men who were pugnnciOus: who had
money, and who treated the baron to
hn F..fs..
rained down on him. As many as three
hundred actions were pending a I one time.
solely on behalf of Emma Mine" stock
holders. The mere legal expenses were
enormous. The scandal was more damag.
ing than the cost in money The period
or general credulity about companies
passed rapidly away. The baron found
MS trade vanish almost as mysterlously
as II had grown. When the collapse came
he was loaded down with a mass OF shares
Which represented "A great nominal value
but which he had been unable to dispose
OF IN time. HIS prestige was gone. Lisbon
iramways and Sombrero phosphate had
destroyed what the Emma mine left of n
and though he struggled against fate, the
emo was inevitable. Early in 1879 II came
Grant went into bankruptcy with llabili-
ues or nearly three million dollars and as
sets of one hundred thousand dollars
During the years of his prosperity Grant
spent money laVishly and aimed at social
ana political distinction. He got himself
fklNURTn1lUStNF
ana presented gold medal bearing his
likeness to every man who voted for him:
put bribery proceedings were begun and
ne neVed took his seat He once received
an invitation to one of the Prince of Wales
garden parties at Chiswick but he made
a great mistake in wearing a foreign dec
Grafton and having himself announced as
Baron Grant, and he was never invited
again
For time he affected not to like the H.
Tie OF baron, and said to a gentleman who
so addressed him: 81 have dropped the Ii.
ne at present "a pause-"until j get a bet
ter one" This was about the time that
he purchased the waste ground In Leices-
ter square and adorned 1t with flowers
fountains and statues for the benefit OF
the pubic 1t was to have been opened
by the Prince Of Wales, and Grant expect
ed a branetcy but the prince declined at
the last moment to attend, so Grant spent
his money for nothing
His oti1ces were on Lombard street at
NO. & He bought the plot Of ground for
fabulous sum. The old premises were
pulled down and a gorgeous ediffce was
erected which made even the oldest bank
er Diush when his old-fashioned Office was
put In comparison with such modern splen-
dor A spacious saloon, filled to overflow
ing with courteous, Well-dressed clerks
took the place of the discarded 'offIce. .
Whlle upstairs was magnificent entresol
series of plate-glass doors surrounded
this entresol, each numbered, and permit
ting nothing to be seen within or without
but all leading to the "parlor" This room
was upholstered of the best, and stately
pillars, beautiful Turkey pile and mirrors
ad libitum met the gaze of the happv men
when ushered into the ''preseuce" Here
at different times assembled peers. Anan-
ciers and brokers, but none knew who pre-
ceded or who succeeded him. Everything
was carried on in the same
right hand knew not what
the left was doing. Not a murrnur could
be heard from the thickly padded walls.
not whisper of the enormous transac-
tions from henceforth to be Matched with
in these walls.
For a home he bought a dozep acras %
land in kensington and erected thereon
one or the largest, costiest and ueliest
houses In London. The grounds were
transformed into splendid park, with
marble terraces, statuary and lake OF
several acres. He spent $1,000 600 on ir
but never occupied it. The crash came
just before ii was finished
NOT the least striking incident of his daz-
ziing career was the use he made of the
London Times. He literally bought the
hnancial editor OF the paper, and so made
It's columns the ready servant of his spec-
ulative schemes. When that fact was dis
covered by the proprietor Of the paper
the offending editor was instantly dis
missed. Nevertheless the unpleasant fact
remained that the leading fournaI,s ~
used as Grants subsidized tool.
After the crash of 1879 Grant passed
from public view, and not one In ten
thousand knew whether he was alive or
dead, until the appearance of the brief
item the other day, announcing that he
was again a bankrupt. His first bank
ruptcy shook the financial world from
center to circumference. Ills second
causes not a tremble nor a ripple. Are
we, then, so soon forgot?'