The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-01-09
His Effort to Save Off Marine Sank Disaster Mr. Ward Appealed
TO s. B. Ens and Others Without Result, but the General
Personally Raised S15O,0O0

were enjoying their profits, caring lit.
tie whence they came al
This trip was IN November, 1854
some five months prior TO the faiIure
Of Grant & Ward and had The matfer
then been discussed by that party and
the truth become known as TO the CT.
tent of these loans | believe means
could have been devised To adjust mat.
tors so that the failure could have been
avcrted
Mr. Fish was carrying our notes TO the
extent of half Il million dollars. ON
which, besides his regular $1,000 month
from the firm. he was getting 30 nor
cent a month. and vet he never, to my
knowledge. consulted either General
Grant or L. :. Grant 1r., as TO the ma.
turc Of business which could nav
such enormous rates. At the time Of
our failure he had received $7000O0
profit. II would, therefore, seem natu.
raj that with such enormous amounts at
stake he would have looked into the
source from which such profits were
derived.
During my business career in the firm
| drew some S625. GOO OF which amount
/ invested TI3,442.35 in my house and
furniture I'm Stamford. $21 ,330.9l in
houses in Brooklyn. slO2, ,395,6f in nv
| house and furniture in Brooklyn. $149..
3l7.ii in the purchase with Mr. FIsh of
the old Booth theatcr property in Tween
| ty-third street. $4,000 in my South
street house IN Stamford and 500 .2l6.0I
in Madison avenue real estate. leaving
| about S250,0O0 as the expenses of my
| living for four wears All these vnri-
| ous investments were turned over TO my
creditors, while neither Mr.. Fish nor II
S. Grant. .Ir., as | understand, turned
| over ANYTHING TO the firm S creditors
although Fish S profits were far in OK.
cess of mine. and Mr.. Grant S very
large, General Grant s profits were
largely used III personal living aud ex.
penscs and were much smaller in amount
than the rest
After my release from prison | went
TO j. T. Davies. the receiver of Grant
! & Ward. and asked him if ] might be
allowed 10 examine tho papers in his
| possession, found by him in the office of
! Grant q Ward when he took posses
sion. but was met with the cart reply
that everything pertaining 10 the receiv-
ership had been settled up and these
papers either sold or destroyed | as.
sumed that the desire WAS to lei the
whole matter die n natural death from
old age. Mr.. Davies was made receiver
against my openly.eXpressed wish and
for reasons best known 10 myself, but
| was overrulcd by my partners in this
matter. ! would give a good deal TODAY
TO get possession Of those papers, and
cannot sec by what authority they were
destroyed or sold.
Had the firm OF Grant & Ward been
successful. which il would have been but
for the series of unforeseen and un.
looked for circumstances. those inter.
esled In the house would have been
proud to claim every dollar made BY
the transactions in which we were en-.
gagged, and not one of them would have
seen anything wrong 10 its methods.
Here also is where General Grant
showed himself 30 be fair. if at his
own expense. He came TO me few
days after the failure and told me TO
he brave, and from that time on | did
everything. IN my power 10 right that
part Of the wrong for which ! was
guilty and bore my punishment as pa
tiently as ! could, braced up with the
feeling that General Grant, though sad.
dened by the failure of our firm, was
fair in his Judgment of men and real.
lied the pressure that was brought TO
bear on one so young. Innocent as
he was of any completely in the firm IS
transactions, he was generous enough
to make allowance for me in my try
ing position as the sole custodian Of
those millions.
Continued Next SUNDAY