New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-11-28
HISTORY OF THE FIRM.
1HE FOUR MEMBERS AND THEIR FAMILY CON
SECTIONs.


NECTIONs.
Tho firm NJ Field Iindley Wiechers & Co. had its
offices at No. / Broadway, In the big Washington
puiIdinp which CYRUS W. Field erected some years
apo hut which he was compelled TO mortgage IN
his financial troubles which grew out OF the iaure
10 corner Manhattan stock in 1885, The srIn Is co'
nosed OF Edward VI. Field, the eldest sjn OK cyrus
W Field Daniel A. Lindley, a son-n-law OF uhe
elder Field John +. Wiechers, OF Hanfed, y. J.'
and HERMAN G. Hmers OF this city. Mr.. wiechers Is a
nenbew ~ the well known sugar refner, F. A. Wicchers
who was formerly with Matthiesen Wechersr ana
who died about year ago. leaving large fortune W
his nephew The senior member OF the nrm Is aoo"'
forty-three years old, and had the nervous man"
ners OF his father, accompanied with louu
voice and an imperous demeanor' MI Lniui'y
is. the only member Of the firm VINO hao !"
seot in the Stock Exchange, which he acquired OH
Inne o5. 1873 lie was formerly in the employ Oh
VI x Jesup Co., bankers. Mr.. Himers Is hephe"
of F. O. Matthiesen. the sugar rchner.
Tho erst venture which brought Edward NJ f1eid
i,to prominence was when. In March, 1871 ne iorcu
q partnership in the grain trade under the name Oh
reat T,resdae a. Field. In May, 1879, the hrm S
ama ,vss changed 10 Field, Lindley a. Co., to winch
rns W Field contributed special partner Sooo'ooo
Tho members In addition to the two FIELDS ana mr.
IindIey were Edward S. Washburn, Georse ohn'"'
Jobn p Truesdale and Pope c. Tent lie pafh''o'ip
remained the same under two renewals untl hpIi -
SOL when the present brm WIS cohs1'uV0N' -.
w. Field retired as a special partner anu ~ " NV
involved In the failure a.,
rbo bonse was prominent in 1856 in running Dig
dear IN Manhattan Elevated Railway stock. AT one
time a corner seemed threatened but the price ooi
not he sustained, and heavy losses nhaiiy ieh uP
the house. The result OF the collapse was lhe Se"o
crppling Of the older Fields financial csoui'e'
and the transfer Of the control OF 'ia"h'.'''
N Law Gould The firm never fully recovered i'S
rasoe after this transaction, and 1t was only Dy the
nrodnction Of new capital through Messrs Wiechers
and Hilmers last April that 1t was able 10 cohuuue
its operations on any scale
The failure of s. V. White Co. last September IN
an attempt 10 run corner In corn, Cid the mousse sumo
dsmaoe II was said at the time that Field, Lndiey'
Wiechers Co. parties in the Attempted .o'no' ;
h, .he 0as denied II is certain that that collapse
~ tt consequences overtaxed the resources OF the
nouse Since September the finn has not operated eA-
tensiyey in railway stocks. 1t is said that " was
an. n, the sufferers by the financial troubles OF last
N1vene have grown out OF Edward NJ. Fields giraffe
actions Is said 10 have been due 70 te ser on
tnns on corn which il IS believed TO have made when
Il was forced 10 accept the cash devenes TIM ecen
the 6rGsge ho o November 81 corn in chicago
,hoaght 10 be the main cause OF the present. emp~
rassment.
THE NEWS HAS NO EFFECT IN CHlCAoo
Chicago. Nov. 27-Fied, Lindley Co., OF New
York whose failure announced To-Day, eea' heie
exclusively through commission houses Win l''o pm
go, wires NJ several OF which they had once con-
ncctons. Nothing could be learned as to the extent
Of their dealings in this market. The hrm mao
branch house here till March last, with George s"'n
as resident partner but the partnership expired oy
limitation at that date. and Mr. smith reufeu. Inc
news Of the failure did not seriously anect prices III
This market. The firms business III Ihc"so s'.e
,, nring has been rather limited and OF late COM
,ssion houses here have been led 10 fight shy OF uer
husness and TO call on them sharply Tor margins.
In fact some OF these houses have recently dechneo
commissions from the firm. No losses VIII DC sns-
toned here a. far can be learned King Harlow
80 non trades for the susp pended firm to the amonnt
hoio "a, 100 bushels of wheat and 100000 blsheis OF
Nv Corn against loss WHICH they are protected py
annie margins.