Pawtucket tribune. (Pawtucket, R.I.) 1890-189?, 1891-11-28
Assignment of Field,
LindIey, Wiechers Co.
UGLY RUMORS ARE AFLOAT
AS to What Has Become Of Securities
of the Union Pacific.

| 'ut HIui VI Tltlu, Isluultl, W ltCHtTs
a. Co, bankers and brokers in the Wash
ington building, | Broadway. assigned
yesterday TO Charles w. Gould, without
preferences. The head of the firm is a son
Of Cyrus w Field
The cause of the assignment, Mr.. Gould
said, was the mental condition of the sen
ior partner, Edward NJ. Field, who was i'll
for some time. Mr.. Gould said that he
tried 10 question the sick man about his
affairs, but Mr.. Field was unable TO give
any satisfactory information In conse-
quence Of this IL was decided to assign
without preferences and investigate the
affairs Of the firm.
Mr.. Gould, while unable even TO es-
innate the assets and liabilities, declared
it rs his opinion that no one would suffer.
As TO details, every one connected with
the firm
Was Absolutely In the Dark.
Mr.. Field had managed the financial af-
fairs himself and without assistance and
whether he had recorded all of his transac-
tions lately made cannot he found out for
several days. Mr. Gould said there were
no judgments, attachments, or other legal
demands upon the firm, but that the de-
sire To investigate was the sole cause of
the assignment.
Mr.. Gould said that the firm had one
large liability that they could say was per
fectly safe "It is an enterprise" added
Mr. Gould, (which ! cannot explain but
IL is safe and there is no anxiety about il.
We admit that there is considerable money
In 1t, but if its nature should become
known it would result in a great loss"
The cause of the unfortunate condition
Of Mr.. Field dates ba" some time, and the
physician who has been i'm attendance on
him thinks that hi" patient had been over
worked. His frien il have noticed the diff
ference in his conduct, but il was thought
TO be only temporary. Mr.. Gould said he
had noticed il. and while overwork was
undoubtedly the cause of the trouble, the
death Of Mr. Fields mother, Mrs Cyrus
w. Field, few days ago, had greatly ag-
gravated the case. Mr. Field is a man
Of about ~ years Of age, and has a family.
He lives at l25 East Twenty.frst street
where, according to Mr.. Gould he is under
medical treatment Notwithstanding the
statement the servants insisted that Mr..
Field left the house yesterday forenoon,
saying he was going 20 his office.
Who're are the Securities?
There wore rumors ahoat that large
amount If securities had been rehypothe-
that this j1l been done with over 500, 900
Of securities pledged by the Union Pacific
company. Watson Bros. who received
$4,000 in Denver and Gulf bonds, sold the
securities in the open market after the
failure was announced. II is claimed these
bonds were among the securities rehypothe-
Gated, and an injunction will probably be
served 90 prevent delivery of the bonds.
The loo2 is not yet due but DrcXel, Morgan
< Co. are understood to have offered to
to take up the bonds. The firm. however,
would hot turn them over.
Sidney Dillun, president OF the Union
Pacilic Railroad company, ex-Judgc John
f. Dillon, counsel of the company, and
General G.. VI. Dodge, n large stakeholder,
went To the Office Of the iaIcd firm to find
some one who could tell them of the con
ditiOn Of the Union Pacific securities held
by the firm for loans They feared the Sc
curitcs had been hypothccated. Judge
Dillon and the firm discounted papers for
various houses and in the main received
securities.
At 800 o'clock neither the assignee nor
any of the firm members had returned to
the Office. Judge Dillon grew inpatient,
and said lac did not propose To wait any
longer
1--WE are ready to pay the. firm, he said,
land we want our securities In fact we
have been trying To pay them some time,
but our securities are not forthcoming. IL
appears that they have disposed of them,
but they could not legally do so without
the consent Of the company, which was
not given. ] won't wait any longer. II
the securities are not accounted for ! shall
advertise for them tomorrow
About 4 O'Clock +. H. Thurber came
into the firms office, in search of securi-
ties belonging To a friend who had nego-
tiated IA loan with Field, Lindley, WEIGH
srs & Co. They could not DE found.
The many creditors and borrowers who
called to inquire into the state of affairs
were turned away no wiser than when
they came. Several men displayed checks
calling for large amounts Of money and
wanted TO pay their banks, but money was
not wanted and they carried away their
checks.
Cyrus w. Field Frustrated.
NEW YORK, Nov. 2s.-Cyrus w. Field is
reported to he in very critical condition.
The loss Of his wife and his sons failure
and lapse Of mental faculties, has laid him
so low that he may not recover