St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-12-01
Half a Million or Over in
Losses on Account Of the
Failure.
Assignee Gould Says Field Is
Alone Responsible for
the Frauds.
No Assets in Sight. Except
Enough to Pay OF the
Clerks.
The Corner in Corn Was
Adroitly Manipulated All
Through.

New YORK. Nov. 30.-There was no
material change in the aspect OF affairs
at the Office of the suspended firm of
Field, Lindley, Whichers & Co. this
morning. Assignee Gould said that
personally he knew nothing of the
truth or falsity of the published reports
of the alleged crooked" transactions
of Mr.. Field. The statement, however,
that he had given any such information
to reporter, as was stated, was untrue.
He was trying TO get at the facts,
but as yet had learned but little.
There was no bank account whatever,
and only faint hope remained with
him that there might be some call loans
belonging to the firm upon which he
might be able to realize. There was a
report published that warrant for the
arrest of E. NJ. Field had been placed
in the hands of Inspector Byrnes, and
that he had detectives watching Mr.
Fields house. The inspector today
positively denied that there was any
truth in either of these statements.
CroOkedness Admitted.
Assignee Gould admits that there has
been crooked transactions, but attrib-
utes it all to Mr.. Field, and says that
his partners knew nothing of if. he
says Mr.. Lindley could have handled all
Il ese bonds on the stock exchange with
oLt knowing their history. Mr.. Lind
ley, on account of the serious illness of
his wife, who is now at the point of
death. went directly to the stock eX-
change from his home and did not go to
his office for weeks at time.
Mr.GOuld says that he has found only
$500 assets, and there may be So, 900
available, which will be used in paying
the clerks their salary. He denied hav-
ing had conference with Cyrus w.
Field with reference to helping his son,
but thought that he would naturally
come to his aid. Cyrus W. Field has
transferred his property, consisting of
two parcels on the southeast corner of
Lexington avenue and Twenty-first
street i'll this city, to Isabella +. Judson,
of lrvington, n. Y, for $4,000.
Half a Million Loss.
This afternoon 1t was said that a care
full estimate of the net loss which will
probably result from the failure of
Messrs. Field. Lindley, Wiechers & Co.
Is about 100000, of which 800, 900 will
ptVOoOly AoiA VII tilC OillOi L dCluC
road company and the balance scatter
ing. AS an Offset to this loss there is
the investment which the firm
had made in the Cuban sugar
refneries, which is estimated at
100000. Whatever is realized
from this asset will lessen the loss first
mentioned. The announcement that
the Union Pacific company is ready to
take up the bonds from present holders
created much better feeling in Wall
street.
Frank j. Sprague has obtained from
Judge Lawrence, of the supreme court.
a temporary Injunction restraining
Field, Lindley, Wiechers & Co., Z. A.
Hussey and others from disposing of
certain stock of the Edison General
Electric company pending suit for its
recovery.
The Union Pacific Stock
The action of the stock exchange IN
stopping delivery of the Union Pacific
bonds was severely criticised on Wall
street, and many seemed to think bad
precedent had been established. Mr.
Ely, the secretary, tried to make it
plain to the kickerS that the best thing
had been done. He said that bv the
action of the stock exchange
a speedy adjustment was effected,
whereas. if the bonds had gone on
changing hands, law suits would
have been the result, and the bonds
would have become SO scattered that it
would have been difficult to have found
them. 1t was rumOred that Daniel
Lindley would be disciplined or expelled
for selling the bonds on the floor. but
the president says no such action could
be taken without formal complaint,
and none has been made. S. v White
denies owing anything to Field, Lindley
IL Co, but on the contrary that firm is
indebted to him.
The interests of the Onion Pacific
have been placed in the hands of A. II.
Holmes, whose Office Is in the Mills
building. Mr.. Holmes realized that it
would be impossible for the Union Pa
cific to gain possession of bonds that
had fallen into the hands of innocent
holders, and requested the committee
on securities to release the bonds from
their order of Saturday. Upon his
order it was done, and the stock can
now be handled on the exchange. There
bonds, the ownership of which will
likely have to be settled in court.
At the produce exchange there were
no new developments. 1t is believed
that all the outstanding obligations of
the suspended firm have been fully met.
There was a considerable furry this aft
ernOon over November corn. 1t closed
Saturday at rs cents, opened today at
rs cents; shortly after 1 O'Clock it
jumped to 90 cents, the highest point
reached in years. 1t is not thought,
however, there are many outstanding
deliveries, most of them being already
settled around 80 cents