New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-05-23
CYRUS ". FIELD RESIGNS.
HIS ANGER BECAUSE TIE WABASH DIRECTORS DID
NOT FOLLOW us ADVICE.

Ills ANGER BECAUSE The WABASH DIRECTORS DID
NOT FOLLOW us ADVICE.
The Executive Committee and resident direc-
tors of the Wabash Railway Company held an exciting
meeting in this city yesterday. There were
present the five members Of the committee
lanes A. Roosevelt. president; Morris X Jesup Scion
Humphreys Walter 5. Gurnee ana Cyrus W. Field and
Directors William NJ Bliss and IL. A. V. Post. Cyrus W.
Field rendered his resignation as director and member
of the Executive Committee. When asked by TRIBUNE
reporter after the meeting his reasons for resgning Mr.
Field declined to the subject or TO furnish
any information Whatever. President Roosevelt went
ont OF the city yesterday afternoon.
A member of the Executive Committee who was pres
ent ut the meeting. sad last evening;
Eyer since the beginning OF the Tysen suits of when
there are two one brought in Indiana and one In Hi
pos and of tho Barton suit here Mr. Field has been eI
ceedingy FESTIVE under what he stgmatzcs as an uus-
tabIe attack the credit and standing OF the company
Full Of vgor and ardor himself he has been feeling ever
since for backbone among tho directors. To-day he
presented resolution which seconded by another
OF drectors the purpose he distinctly stated.
OF bring properly before board. By this resou
ton the counsel OF the company were instructed TO
begin at once criminal prosecutions for con-
spiracy TO injure tho credit OF the com
pany against the authors Of these suits. Mr..
Field insisted upon the immediate consideration
and adoption OF this resolution. lie urged to await
the arrival Of the Toledo counsel OF the road who had
signed their intention OF being here in few days Mr..
Field is impeuous and impusive and would tolerate
delay in pursuing who wished to njure the road
and insisted on the resOnson While i think
there wero several in the board who favored
the action, 1t is certain that they did
not consider 1t expodicnt TO press 1t at
this time. On a motion to defer consideration OF the
resolution there were six votes in favor 10 opposed
Mr. Field instantly rendered his resignation mem
Der OF the board, and left the meeting"
WAS he in bad tcmperl"
"Hm-certanly he lost no time In his going"
"There mas been 40 far am aware" the wabash
director continued previous peInal feeling between
the members OF the board In regard TO these suits or the
treatment Of them there has been Of diversity Of
opinion And this has been not the proprey but
as 10 the method Of the action. II has been merely
QUESTION Ofexpediency. The suits have been removed
10 the Federal Courts and the evidence Of conspiracy
attack the company be brought out IN the present
suits well as in fresh action on our part.
and that If he had consented 10 weeks delay he would
have bad no reason for the resolution. HIS
on the table. confident that IL will be recOnsiderod
aud that SIR. Field VIII rewain in the direction"
- How Will the resignation, II insisted Oh, affect the
SO far as the working OF II concerned not in the
slightest. Mr.. Hopkins, the general manager ~
and the Western directors, who form work
ing board. also excellent managers. But
how IL viii affect the stock OF Ag ROAD cannot cam 1
noon whether Mr. Field would be likely to throw over
the stock he holds, but no one could answer IT, ana
his may be- never before saw Mr. fIe!d III IL
tanrJm as he was to-day" ~
"What would the effect be II he should unload"
"Wcll, there would be a tumble IN the stock. cannot
tell yOn the amount Of stock he holds hut he holds a
good line hope. however he will, reflection, con
Guide that tue action Of the board iudoiOus do
think that tnore is connection between ths mat
and President RoosovelPs Immediate departure from