The Mount Holly news. [volume] (Mount Holly, Burlington Co., N.J.) 1891-1942, 1899-08-08
Regimantal Reunion

The reunion of the 25rd regiment of
New Jersey Volunteers was held at the
residence of Gen. E Burd Grub, at Edge
water Park, on Friday There was large
number of the members present and the
occasion was one of more than ordinary
pleasure. 1t has been some time since
this regiment has met at Edgewater In
the meantime the beloved commander met
with financial reverses. These have been
overcome and it was with heartfelt thank
fulness that the old soldiers grasped the
hand of their commander and comrade
and congratulated him upon his good for
tune.
After lunch and a business meeting
there were speeches by several of the visi-
tors. Simon H. Stern, lawyer and a
warm personal friend of Gen Grub,
made an extended statement of the bust
ness troubles of the General and how they
had been overcome.
Seldom does one hear more absorbing
story of the loss of one fortune and the
starting of another. The facts in regard
to General Grubb's financial misfortunes
have been known to but few of his most
intimate friends. He has borne his trou-
bles quietly, and few have been the wiser.
Now that the tide has turned the full story
has come out and was given to the New
York Herald as follows:
General Grub, after years of distinction
in military and public affairs, during which
time he spent his money without stint,
suddenly discovered that he was practical.
ly penniless. He learned that his fortune
had become involved through the failure
of a business enterprise. When he found
out the exact situation he turned over tc
the firms creditors practically everything
he had in the world, excepting his home
He withdrew from public life, and after
his estate had been exhausted devoted hi:
time and personal efforts to making fur
Their restitution to those who had confidec
| in his financial standing.
1t was as general partner of the firm
of William M Kaufman & Co., iron
| founders, in Sheridan, Pa, that Genera
Grub lost his fortune. 1t was his under
standing that he had entered the firm as {
special partner, liable only for the money
he actually put into the business. HI
discovered when it was too late that h'
had been taken in as a general partner anC
that he was personally liable for all debts
General Grub had been a partner il
this firm for twenty years prior to his ap
pointment as Minister to Spain, in 1890
During these years he had paid little per
sonal attention to the affairs of the firm
After his appointment by President Harri
son, General Grub was sent to Spain o
twenty-four hours notice. A steamshi
of the Ward line had been seized at Cier
fnegos, Cuba, and James G. Blaine, the
Secretary of State, urged General Grub
. to hasten to Spain to demand the retur
! ! of the vessel to its owners.
General Grubb left powers of attorne
/ with three friends, and asked them to d
0 rect their attention to the firm of which l
s was member, as he had become dissati
4 fed with the reports he had received. A
!. ter an investig alton Of the firm and Of b
n personal affairs General Grubb was j
o formed that he had net income of abo
< 100000 year.
5, "As result of this report" said N
" Stern, General Grubb's counsel, "the ere