The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1891-11-29
HYPOTHECATEO SECURITIES.

| NEW YORK, Nov 28.-The suspicion that
| the firm of Field, Lindley, Wischers g. Co.,
which failed yesterday, had hypOthecated
! the securities held by them (amOunting to
! 81 900 ,000) on a loan of $600,000 developed
into IA certainty this morning. At the
Stock exchange $4,000 of Union Pacific,
Denver and Gulf consolidated first mort
cages were sold out under the rule on the
account of the firm. Upon hearing of this
fact Judge Dillon sent for Assistant Secre-
tary Burnbam of the Stock exchange and
had conference with him at his Office.
Sidney Dillon was present. Mr.. Burnham
was notified that the entire list of secur-
ties was not good delivery, and was re-
quested to post a notice. A meeting of
the committee on securities was hurriedy
called by Secretary Ely. They came the
decision that the securities would not be a
good delivery and posted notice to that
effect and sent word to the various banks
The securities named in the protest sent
TO the members of the exchange include
1000 shares of Texas Pacific railway stock
certificates; 100 shares of Oregon Short
Line; 100 shares of Utah and Northern
first mortgage bonds, besides shares of
Union Pacific and Gulf. Oregon Railway
and Navigation, and Union Pacific, Dem
yer aud Gulf consolidated per cent first
mortgage bonds, in all amounting to about
81. 000. COO
Sidney Dillon was met on Broad street.
hurrying to his office. He spoke about the
notice and said: Their hyDothecation Of
these securities is what | term criminal
borrowing. / don't think there can be
any miider view of their action taken. We
have been endeavoring to get the matter
settled before and have offered several
times TO pay the loan, as we have had the
money deposited at Drexel, Morgan * Co. s
for some time. II Is only drawing two
per cent interest there, and we wanted TO
get Il out. | called at their Office this
morning aud found them all so frustrated
that they could give me no information
whatever
At the Office Of Field, Lindley, Wicshers
& Co. assignee Gould said: II really do
not know IN what condition things stand
As to the reported hFpothecaUou Of the
I mon Paclnc securities. / really do not
know anything about il, but / surely can
not believe that such a thing has been
done. l. regard O the condition of Mr.
Edward VI. Field, the senior member of
the firm. Mr.. Gould said: II called al Mr.
tleld's house this morning, but did not see
him. saw his physicians and learned
that Mt Fields condition Is very serious.
Arrangements are b~iug made TO send him
t. a private insane asylum. Mr.. Carries
W. Field IS also very I'll Of nervous pros
tration. | Tried yesterday to talk with Mr..
Field. but found his mind wandering. He
was totally incapable OF talking intelli-
gently. His symptoms are not OF acute
mania but be can not keep his mind on
anything"
This afternoon Mr.. William Field told
reporter that his father was not as III a.
was generally thought MY father Is
somewhat Frustrated" be said but at
present we have no fear OF the outcome
H Is not ~ bei, but lies down upon
sofa, occasionally rising and sitting in q
chair. In my opinion nav father viii be
AL right sgslR IN few days.
NEW YORK. NoT. 2S-AfIer the close Ct /
the \ ock exchange today u was officially I
snuouuced that the Union Pacific railway
lad Notified il that securities 81 the face 4
value cf SI.1i0900 had been miszppropEi- 1
stei by Field. Llndley. Wischers * Co. /
aud these securities were accordingly de- j
ciAred 10 be not good delivery on accouut 4
d sssles made in the exchange. The FOL j
owing statement . made oy the officers /