Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-11-29
FIELD, LINDLEY& co.
The SUSPICION or RisrypoThEcs-
IloN BECOMES CERTAINTY.
A million Dollars and More fhs Esfsst ei
the isnpprspristtv,,--Bsfs the
fleids III



Nrw YcxE. November 2s.--The suspicion
that the arm Of Flsld. Wiechsrs. Lsndify
& Co. which failed yesterday, had re-
bypothecated securities held BY them on
loan of 900 COO 10 the amount Of st.oOO,evo
developed into q certainty TINS morning.
At the Stock Exchange Ss0o.e50 OF tnion
Pacific, Denver and Cult consolidated hrst
mortgage s per cent. bonds we're soia OUT
under the rule tor account OF the hrpi.
Upon hearing Of this fact JndRe plion
sent Cor Assistaut-Secretary, Bornnen, oi
the Stock Exchange. aud hsd conieEslsse
with him al his offiee. sydney lillon WIS
v,ressnt Mr.. Buruharn was notified that
the entire list OF securities are nov y kO w.
delivery, and was requested 60 posi- ths
notice.
NOT GOOD DEfdvERN.
Ameeting Of the Committee on secGri-
ties was huTriedly called by SecrSs& ES'
and they came 10 the DECISION that tne ~,
cprities would not be good delivery an,
posted a notice 20 that effect and sent woro
to tho various banks.
The securities named in the protest senS
10 the members Of she Exchange lnciude
600 shares OF Texas Pacific railway STOCK
certificates, 100 shares OF Oregon and snort
FIRST mortgage bonds of Union Pacific and
Gulf, Oregon Railway and Naugatien'
Union Pacific and Denver, and Gun Con
soidated 8 per cent. drst mortgage bonds
in all amounting to about Sl,o~,ooo
Mn. FIELD AND his FArHER BOTH III.
Attha Office of the firm. Assignee Gould
said this morning that he had called OF
the house of young Mr.. Field, but dld not
see him. =" saw his physician ana learned
from him that Mr.. Fields condition n
very serious. Arrangements are oelnR
made 10 send him 10 private lasane
asylum. Mr.. Cyrus W. Field Is also very
i'll OF nervous prostration; 1 tned yssteI-
day TO talk with Mr. Field, but found MS
mind wandering, and he was totally inca
pable of talking intolllgently. HIS symp-
toms are not those Of any acute uanla'
but he cannot keep his mind on any
thing.
At the Produce Exchange tins morning
the failure was the general topic ot dis.
cussion. The disposition was oSie OF
sympathy. There was an Official cAl az
i1:30, but no business was transacted, ana
il was currently understood that al the
grain contracts of the firm had been
settled up. AZ far IS speculative options
go, the outstanding Obligations OF tleid,
1lQulcN o. 10. law hNA nv IVY
effect on the grain market. A prominent
member of the Produce Exchange VINO
saw Mr. Lindley this morning SAID Inc
papers had statement this morning that
the firm was short on November corn IN
Chicago. but Mr. Llndley denies this nat
footed"
THE UNION PACIFIC SECURITIES.
After the close Of the Stock Exchange
to-day the exchange officials announced
that the Union Pacific railroad had notifed
it that securities of the face value OF
81 TIC. 600 had been misappropriatsd, and
these securities were accordingly declared
10 be not a good delivery on account OF
sales made on the Exchange. The securi.-
ties include S679.0OO Union Pacific and
Denver aud Gulf consolidated Sc. and
IS. 600 first mortgage bonds; S5l6.OOO
| Oregon Short-IAne and Utah Northern
consolidated SIS, and e2l6,000 collateral
trust 6s Of tho same company; S3s,0JO
Oregon Navigation SIS; 1000 shares texas
Pacific stock, and 500 shares Oregon Shert-
Line and Utah Northern stock.
STATEMENT OF UNION PACIFIC oTF1cERs.
The following statement is made by OH
GERS OF the Union Pacific in regard 70 the
notice given to the Exchange: VI the
securities Of its system which were nclo
| by Field, Lindley, Wiechers x Co., IN reia-
ton to which the Stock Exchange mas
made ruling that they are not a good de-
livery, large part were delivered &c
that firm as collateral security for three
loans which matured November 18th, 2tth,
and 25th, and the balance of the securities
| for q loan which matured January lst
next. The company has repeatedly offered
| 20 pay of these loans since tht
| funding scheme was coneummateu
and mas stood ready TO do so
but prepayment was refused. Since thS
| three loans matured the company has
made every effort to take up the loans. bat
the Lenders delayed. making various ex
cuses for not being ready to deliver the col
latsrals on receipt Of payment. The com
pany stands ready at any time TO pay the
| loans on delivery of the collaterals or x
meet any OF its obligations provided the
| collatersIs are returned"
several stores have it that the suspend
| ed firm have sold the bonds and must make
delivery on Monday TO tho buyers. Al
| they are not good delivery the SELLER
arc endeayorinR to have the buyers eance
/ the transactions,