New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-11-16
THE GRANTS STILL SILENT.
WALL STREET BELIEVES WITHDRAWAL
OF DURYEA ACCOUNT FASTENED
THE ASSIGNMENT.

No reply could be obtained yesterday from either
frederick Grant or hts son. Charles F. Grant to
the statement issued Wednesday night by John
K Van Sickle. their partner in the Stock Exchange
firm Of Grant Brothers regarding the cause of the
assignment made the first part Of this week Both
the Grants returned the cards Of their callers with
the answer that they had nothing to say. gar
ruIous office boy. who chatting with the
porters in the hall. received a sharp admonishment
from Charles F. Grant. who overheard the CONVEX
sation. Don't give out word" he said and
the boy disappeared
Several clerks were at work upon the books yes
terday. The customers open and the
stock ticker was clicking away, but otherwise
there were signs of active business about the
place
Ernest G. stedman the assignee. yesterday per-
sisted in his refusal to add his brief
OF the preceding day. Whatever the direct cause
Of the failure, 1t is generally believed in Wall
Street that the withdrawal of the Duryea account
fastened the catastrophe. That the firm had gone
into what the Street calls condition Of "dry rot
is shown by the fact that it had done next to no
business for at least months prior the as
Segment.
Mr.. Van sickle's contention that the FIRMS books
were in bad shape received apparent partial
roboration yesterday in letter written on July 27
at Evansville. n. Y. by Walter Duryea, who had
previously for many months been at Roosevelt
Hospital under treatment for a broken neck, his
father. Edgar E Duryea, wealthy starch
manufacturer OF Glen Cove, who of the
principal customers or Grant Brothers, and who
died in August In this letter. which is in the
possession of ]. Campbell Thompson, of No. 63
Wal-st, attorney for the three daughters of Edgar
E Duryea, Mrs Cox, Mrs Theberg and Mrs.
sprigge. Walter Duryea says:
Frank said that he was having considerable
trouble getting a statement from Grant Brothers.
] am nor surprised. as it seems that Curtis has
things in his way. His accounts are in
rather tangled state, and il is pity we ever
had any business with house that had such slack
methods OF doing business. OF course. you are the
loser. II pays to keep a strict account of one S
transactions in dealing with any brokerage con-
Germ, as there Is no such thing as friendship IN
business; but II is the same old story, that any
who holds down chairs in brokers' office
pays dearly for it.
The Frank mentioned in this letter is Frank
Duryea, a nephew of the late Edgar z. Duryea.
and executor under his will Curtis is the
former cashier Of Grant Brothers. Mr.. Thompson
denied that he had said that the Duryea account
with Grant Brothers 100000, explaining that
such only the surmise of his clients
+'I examined the books of Grant Brothers, said
Leonard H. Conant. of the firm OF Conant & Grant,
accountants at No. III Broadway, yesterday.
Frank Bergen, the legal representative OF John
K. Van Sickle. jr engaged expert account
ant TO look over the firms books at the request OF
Mr.. Van Sickle. This was two days ago. and 1t is
early to say what this investigation will prove
1t is reported that the books are In a muddled
in several years. 1t would be unprofessonal to
say whether this is trIe not. Indeed how
may be expected to know the firms condition
when the examina ton was only cursory once
Van sickles legal representative. said this evening
sickle's position and that he had nothing to give
out at present.