The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-01-09

from failure but also the house of
Grant & Ward. Inside Of two months
! would have eliminated the deal with
the city on the Ramapo water works.
and so would have gained our feet
and doubtless been in business today.
But the tendency on The part Of every
one. except Gen. Grant. was 10 stand
aside and let matters take their course.
These others had nothing to lose and
they had already gained substantial
profits, so seemed to care but little.
Even the directors of the Marine bank,
whose first interests should have been
TO save that institution, simply sat still
and saw IL go under.
On April >. 1884, one month prior
10 The failure Of tho bank. committee
Of the bank S directors, composed OF
some OF its oldest and substantial
members Of long standing, examined
all the loans and reported the condi,
| lion Of the bank sound. At that time
Grant & Ward had some 100000 Of
unsecured loans with them. and when
| the crash came they took advantage OF
the universal censurc heaped upon me
and when called upon for an eXpana
| tion held up their hands and blamed
me for everything.
So, too. with another well-knnwu
man. ! can produce copies of receipts
| given to him for sums amounting &C
hundreds of thousands of dollars, or
which he was deriving from ID to %
per cent a month profit, yet wher
! failure came he too, took advantage
of the public sentiment that was eX
pressed against me, and cast on my
| shoulders all the onus of the bushes,
! that had proved of SO great profit t.
| himself. This was also the case oi
many others, all of whom had partici
patcd in these enormous profits, in some
eases amounting TO hundreds of thou
sands of dollars When the crasl
came they crouched behind the protect
! ing arm of public sentiment and left M
TO bear the burden alone.
But Of all the men with whom | wa
associated the one single exception wa!
| Gen. Grant. True TO his principle
Of sympathy for the under dog, ye
in no way cond0ning anything ! hac
done that was wrong, he always fel
| that had those to whom | had showI
! favors come to my rescue at that tIm'
! matters would have ended favorably.
Can any far~minded reader bellev,
that these men Of years of hnancia
business experience, some of whom
stood high in the commercial world
thought those enormous profits Of j.
| to 90 per cent month were legitimate
No, not one, Most of them har
drawn out more than they had put i,
ana were wiling TO go on, asking NJ
questions and hoping TO be able to pul
out more, no matter whence il came
The Silent Trip.
To Illustrate this, / would again re
fer to the trip we took TO the Kinsu
Viaduct AT the invitation of the Err
railroad. The party consisted of Ger
L, s. Grant, Franklin Edison. mayo
of New York city; j. \. Tappan. cit
chamberlain; Col +. D. Grant, Jamc
ID. Fish, president Of the Marine bank
f. w. Spencer. treasurer of the Fri
railroad: James r. Smith, director o
the Marine bank, and myself,
Every member Of this party, wit
the exception of Gen. Grant an
Mayor Edison, was interested with m
in this 20 per cent a month business
and in many cases TO the extent o
hundreds of thousands of dollars, an
yet during that entire trip. lastin
three DAYS. not one man mentioned Il
another the fact of his interests, no
did they consult on the matter. No
even my partners and Mr. Fish an
L, :. Grant. Jr.. said one word to on
another or to the rest of the part
about the matter, and the reader ca
imagine what the result would hav
been had they talked the matter owe
with Gen. Grant. The fact was, the