New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-12-12
rs THERE 4 DEFALCATION?
VAGUE RUMORs IN WALL STREET.
oTRoNG DENIALs FROM TWO FIRMS THAT WE'RE
MENTIONED.

One Of the rumOrs which spring into existence In
Wall Street without any definite appeared yes
terday in a startling form. 1t said that de-
falcation Of 81, 100000 had been found in Broad
st. firm. The magnitude Of the amount defeated the
purpose of the report IL it were inspired for bear
purposes No such defalcation could exist without
failure. But the vicinity OF the Stock Exchange
filled all day with vague talk about defalca-
tOn or heavy loss OF some kind and the name OF
Field, Lindley, Wechers Co. was mixed with It, One
story that the assignee had determined to Institute
suit against said to be heavily indebted TO
it. The assignee, Mr. Gould, said that he knew moth
ing OF any connection Of the firm with any trouble
Amon Goodwin, counsel for the assignee, knew nothing
of the lie said that the assignee could bring
no suit until he had filed his bond and he could not do
that until ne had some statement to submit. AS yet
no statement could be prepared.
One of the rumOrs suggested that the trouble
lay with j. d S. Warmser d Co., No. II Broad-st
and the talk revived that the mysterious
account with u. G' on the books OF Field, Lndley.
Wiechers & Co., which shows $4,000 owing to the
firm shielded operations OF A. J. Wormser member
Of the firm, Of Of the clerks who bears those
initials At the Office Of the firm 1t denied that
there WAS any foundation for the rumOr. lsdor and
Simon Wormser were at the Windsor Hotel last even
ing, and the latter showed. extreme vexatiOn when
asked regarding the matter, but Isdor said: you
are talking about something entirely new TO me-"
The name OF Henry Clews d. Co., at No. II Broad
ST., also whispered being concerned
In the rImored trouble. In the afternoon
Henry Clews declared any such rumor to be a lie.
g IL would be impossible to have defacaon,' he
said. 1--WE have a system Of checks and safeguards
better than that In National bank In the even
Ing J. B. Clews, a member of the firm, denied most
emphacaly, when seen at his home, No. 30 West
Fifty y-Dinhst.. by Tribune reporter that there had
been any defalcstlOn among any OF the employees OF
the firm. He also denied that Clews & Co. had had
any business dealings with Field, Lindley, wiechers
& Co.
Il heard the rumors about defalcauons about
O'clock said Mr.. Clews. where the reports started
do not know, but am certain there is no foundation
for the rumor that there is anything wrong In our
office. II there any dealcation would know OF
1t. Regarding any reported connection with Field,
Llndley, Wiechers & Co.. will say that the name OF
the bankrupt firm does not appear on our books, nor
does the Of our firm appear on their books At
least so far i know, it does not. If it Is on the
books of Field Lindley wiechers Co., it has right
to be there, for had any accounts
with them. The report that we accepted orders from
them and did not execute them Is utterly without foun
dsion. How such report started cahnOt under
stand.'
At the Windsor Hotel last night only few brokers
were present. None OF them knew OF any foundation
had been circulated for speculative purposes The
stock market not affected to any important extent
by the rumors because of the mpossiby of locating
them.