The record-union., 1891-12-03
A SAD STORY.
CYRUS w. FIELD BROKEN IN
HEALTH AND PENNILESS.
Left Without Dollar by the Hand OF
an Migrate and Disgraced Son
His Condition Critical.
Special to the REooRD-UNroN.

Special to the REcoRD-UNIoN.
NEW YORK, Dec. 2.-Fifty-one years
ago to-day New England youth known
as Cyrus West Field stood at the marriage
altar full of vigor, hope and sturdy ambi-
ton. His hope bore him UP in his work,
and his ambition had been rewarded
with medals, with Knighthood, and with
the thanks of the United States Congress.
Hand in hand the New England youth
and his helpful wife came honorablv
down through half century of time,
| almost to the present dag. Little more
than one week ago, however, the woman
he welded on the day of his majority
died.
| Tonight, bereft of wife and wrecked
in fortune, and penniless by the hand of
an migrate and disgraced son, Cyrus w.
| Field lies dying at ~ years of age in a
handsome home that no longer shall be
his. Edward NJ. Field, the son who
wrecked the firm of Field, Lindley,
| WelcherS ~ Co., is an inmate of Vernon
House, a private insane asylum near the
village of Mount Vernon. Mrs. Edward
| M. Field lies dangerously i'll at the home
Of her brother, DIR. Lindley. Mrs. d. A.
Lindley, daughter of Cyrus w. Field, is
believed to be on her deathbed.
This expresses in few words the pitt
|
weeks ago was envied for it's wealth.
happiness and social eminence The fact
| that to-day is the fifty-firSt anniversary
OF Cyrus w. Fields marriage adds new
sadness to the story of the day.
A member of the family tonight came
from the bedside of Cyrus Field and said:
He is completely broken in health and
spirit. Bereft of his wife, his fortune,
and crushed by the fact that his favorite
son had financially ruined the family
and made mental wreck of himself, the
unfortunate old man feels that death
would be a welcome solace to him. He
feels that his name has been tarnished,
notwithstanding the fact that he has sacri-
feed his all to keep his son from bank
ruptcy."
DR. Fuller, the family physician, said
''He may linger for several days, and he
may die in few hours"
Edward Field appealed to his father re-
Gently for assistance to prevent the fail
qre of the firm, all his resources having
been used up. His father consented to
assist him and authorized him to take
certain securities from the strong box for
the purpose. The son, however, took
every negotiable security there was in
the box. But even that did not prevent
the firms downfall. 1t is believed that
all that remained of Mr. Fields once
great fortune, before this fresh trouble did
not exceed 81 900, ,000 and of that not a
dollar is left How much Edward sue
ceeded in getting from his father is not
known, but 1t is said to have been $780,
900. The balance was believed to have
been in unencumbered real estate which
his house, which he sold this week,
formed part.
That Cyrus w. Field is now penniless
tells the fact that he was supposed to
have been special partner in the firm
of Field, Lindley & Co. for $500,000, until
March lst last. On that date the firm re-
organized, and the senior Field was sup
posed to have withdrawn this $500, 600.
1t is now believed that the $500, coo, if it
existed at all in that way, was never
withdrawn, but was lost, and that its loss
brought about the reorganization and in
PRODUCTION of new members, and that
Edward NJ. Fields speculative course
continued, with the result that the money
Of all the partners was lost, as well as
the half million belonging to his father.
The statement has frequently been
made by the assignee that the two part
ners, Lindley and Weichers, were inno-
cent of all knowledge of the firms condi-
ton, and that it has been going on until
the failure is laughed at by bankers and
brokers. The remark made by Assignee
Gould has been the subject of much COM
ment to-day. MIR. Gould said: ''It
seems to me greater part of the money
lost by the operations of e. M. Field was
lost night here by partners In the hrm."
Still Gould could not begin to give any
estimate of the assets and liabilities of the
defunct firm.
To show the difficulties he labored
under, he said: suppose the parties
should come here and pay large sums of
money to one of the partners, and sup
pose this money was paid right out again
by that partner to other parties. then
these transactions might not appear in
the books Now T have a SusDiciou that
this very thing has taken place.
Edward NJ. Field, after the alleged des-
perate attempt upon his life, has been
removed to private insane asylum at
Mt. Vernon by order of Judge McAdam.
In affadavits the physicians declare that
Edward M. Field is a lunatic, dangerous
to himself and to others Members of
the family deny that he attempted sui
eide.