Evening journal., 1891-11-30
FIELD IS IN AN ASYLUM.
Inspector Byrnes Said to Have
a Warrant for Him.
OHRUs W. FIELDS UNHAPPY FATE

ne Aeditated Giving Up The Remainder
Of His Fortune to Save His Alleged
wayward Son, but the Amount Was
Tco small to BE Of Use. ga
New YORK. Nov. So Edward M. Field
was taken to the Bloomingdale Insane asy-
lum on Saturday. The senior member Of
the firm OF Field, I4indley, Wiechers & Co.
wishdraws from the world a sadly tarnished
name He leaves behind him disaster con-
fusion, wreck Of business firm ruined by
his rAisdoings and a blot on the scrutcheon
Of an illnstrious family. The innuendoes and
accusations Of Wan street are justified. Ed
ward Nj Field not only rehypothecated rail
way bonds placed with him as collateral,
hat he misappropriated large sums Of money.
He raised loans on worthless securities foiSt-
cd by him on many banks and on private
individuals M well He deceived his part
nsrs also.
Pew Rents Gone Also.
Two thousand dollars in pew rents, turned
over 10 f. M Field as trustee Of the Tarry-
town Presbyterian church. Is missing He
was treasurer Of the association which owns
the Washington building, where his Offices
are He collected S35, 600 in rents and sunk
the money IN his struggle to avert impend-
ing doom Field ran a long race with the
fates Il h no wonder that his intellect
could not stand the strain.
Cyrus w. Fields Sad Fate.
The Field family's cup Of bitterness surely
overflow Cyrus w Field was Frustrated
by the death Of his beloved wife, and with
the weight Of this affiiction still upon him
he had to face the terrible story Of his sons
disgrace and financial and mental ruin
HIS daughter, Mary Grace, wife Of Daniel
A. LindleY one of his unhappy sons unhappy
partners i very i'll Of cancer Of the stomach
and the physicians say that she cannot live
two months It lacks three days Of being
year since Cyrus W Fields golden wedding
anniversary was celebrated. From al over
the civilized world where his name was
known came congratulations
A Family Conference Held.
The fame and the honor Of the house OF
Field were household words Had the re-
sponsihilifies Of the ruined firm been less
the remnants Of great fortune would have
been bestowed TO save the name Of Field.
Cyrus Field was willing to give up his all
A family conference was held Saturday
and Yesterday ut the home Of Cyrus w Field,
123 East Twenty-fiTst street Those who
took part IN il were Cyrus w Field, his
brothers. David Dudley Field and Stephen
j. Field; George De Forest Lord, Of the firm
of Lord, Day g. Lord Cyrus W Fields
counsel and representative Of Drexel, Nor
gan & Co.
Tee Great a Sacrifice.
The conference was held to decide what
course should he taken by Cyrus w Field
regarding Edward NJ Field. Edward M.
Fields liabilities, arising from the peculiar
conduct OF his business, which is such as to
give rise 10 limitations Of defalcation and
forgery amount to millions To satisfy the
claims Of bis creditors would require Cyrus
w Fields entire fortune and considerably
more
The family honor was at stake. Family
pride shrank from the prospect Of the pub
lie disgrace Of a Field. The breath Of scandal
had already touched Edward NJ Fields fair
name
When the desperate situation had beer
fully discussed it was finally decided, il
view 81 the fact that even II Cyrus W Fiel
should sacrifice his entire fortune, he wOul
not be able 10 meet the liabilities Of his son
that he should not make the sacrifice.
warrant for Young Field.
From facts ascertained by reporters il
evident that the failure OF Field, Lindley
Wieohers & Co is one Of the biggest fnar
.rial acandles and tangles and muddles in tn
history Of Wall street. II is considered {
be parallel case to the famous Ives-Stey
nor failure There are many plain evidence
Of fraud So plain are they that only h
Illness saved Edward NJ. Field from arres
A warrant, it IS said, has been issued, an
Inspector Byrnes has had men watching Il
house l25 East Twenty-tirst street.
The Jaggiery with the Bonds.
Now as regards the transaction betwee
the Union Pacific people and the firm
FIELD Iindley & Co. The latter loaned q
Union Pacific people 5000, 600 originally, IA
ing a. security notes secured by bonds wor
at par value 81 10000 These bonds tod
nre worth about 81 100000 The Union
ci6c PEOPLE have taken up, 80 far, s2OOO q
Of this loan, and today owe Field, Lindl
& Co some 100000.
NThe bonds are scattered everywhere, ha
ing been rehypothecated by the firm in k
70 suit then convenience or that Of innoce
purchasers The amount rehypothecat
by Field & Co. amounted TO about $500 o
BY this method the firm made an ayers
gain of 70 per cent. on their transacti'
with the Union Pacific people On Sat
day, however, Sidney Dillon said that nett
he nor any Of the Union Pacific officials kn
OF had the least intimation Of any mis-
OF the bonds turned over to Field a. Co
ns.fsi,,-irv on the loan