New-York tribune., 1900-12-29
TO ESCAPE FIRM DEBTS.
DANIEL A INDLEY FILES PETITION IN
BANKRUPTCY.
FAILURE OF FIELD. LINDLEY. wEicHERs q
CO. IN 1891. RECALLED-ToTAL
LIABILITIES. ss.1oLs1-

4he sstlura nine wears ago of Field, Lindley,
Weichers & Co. grain and stock brokers' was re-
called yesterday. by the filing Of pettion IN
bankruptcy before Judge Brown in the United
States District Court by Daniel A Lindley' one
Of the Mariners to get rid of the firm debts. The
total liabilities ssIOlS77. and he has no assets
Mr Landley gives his occupation as a clerk, at
No q William-st.. and his home at MontclaF'
~ J.
Waldegrave HarIock his attorney. had prepared
a long explanation regarding the liabilities The
schedules it states, have been prepared as ac-
curately as practicable in the existing SITUATION
The debts which are not in judgment, have been
taken from the schedules heretofore filed in the as
g-ny,en, N Charles w Gould. There eight
claims in judgments. amounting to about slz0aVoo
The debts were all contracted by the firm between
April l. 1881. and November q, 1891 IheS arr
principally for money lent and advanced TO the
firm and for money due account Of stock trans
sctions There are claims TO the amount OF more
shan 81 900 900 n favor of banks and bankers TOT
money lent the firm They held securities "hlch' 1t
IS believed have disposed of and applied py ie
creditors the satisfaction of their claims ID
or in part: but Il mpracticable If not impossiDie
Co. the netitioner 10 ascertain the present status
Of the claims all Of which were extingulsneo Dy
the statute OF limitations several years ago. foI
that reason the original amounts nave peeh III
serted in the schedules. they existed at the GATE
NJ -ne firms assignment. The petitioner does not
intend TO revive them or in any way take 'heiii
out OF the statute.
On Dec nber 3 1888, in Westchester county III
the suit OF Robert Z. Dietz, the assignment was
set aside null and void, and Norman . LIKE
was appointed receiver OF the assets or the hrhi'
All the assets were surrendered TO the receiver
converted into cash and distributed by the receiver
in the manner required by the order OF the Su-
preme Court, and January Il, 1884, ABOUT $4'VVO
was paid by the receiver TO MI Detz in payment 10
that extent the judgment Of sl24S7 recovered py
Mr. Dietz and thereupon the final settlement Oh 'e
affairs OF the partnership was Effected
The names Of l25 creditors given IN the scheo-
ules the amounts Of their claims ranging from %
10 s552 ss1 The largest creditor mentioned Is the
Union Pacific Railway Company, S552S6l, for money
claimed for differences between the value of certain
securities deposited with the firm by the company
and advances made thereon by the firm, Tor whlch
Judgment was recovered on August z, 1884, against
Msssrs Field and Weichers. Of the firm. The Mer-
chants Bark of Canada advanced s2435Ss to the
firm and obtained judgments therefor. Knauth'
Nachod & Kuhne advanced $685. $50 to the hrm' for
which they obtained judgments. There is SSS,0O
due the estate OF Robert E. Dietz for damages aris
Among the unsecured creditors for money due on
account OF stock transactions are the estate OF
H D. Lassen, Of the same place, SsS,SS1i Selma
Ellis Kisstein. of the same place ss33s estate M OF
George +. Wechers, $l0l393; estate OF cyrus w.
Field, A3s gS9; James r. Keene, $500
Among the banks and bankers who held secur1-
ties for money advanced TO the firm are Kuhn
Loeb & Co. $4s4625; Watson Brothers, $4,000; w.
s. Lawson & Co. $4,000; John W. Cockcroft, Sing
Sing $500 Manhattan Company, $4,000; Phenix
National Bank $4,000; Chase National Bank, $4,000
Mr. Harlock, the attorney said he supposed that
these claims Of bankers and banks had all been
paid IN full, and ne did not think there were any
equities in the securities over the advances made
them. They had however, TO be put down IN
the schedules. Mr.. Harlock said that the failure
of the firm OF Field, Lindley, Wechers 6 Co. was
caused solely by the acts of Edward NJ. Field, and
Mr. Lndey was in no wise to blame for It. When
the firm failed Mr.. Lindley was absolutely penni-
less, instead of being wealthy man, as he had
supposed he was Mr. Field is st alive. as are John
F. Weichers and Herman c. Himers, the other
partners, the latter being in Europe Mr. Dietz,
who had he
Harlock said that number Of the creditors of the
firm have died, and the amount Of the debts due
them put down in the schedules TO their
tates.
The firm of Field. Lndley, Weichers & Co. made
an assignment November q, 1891 to Charles w.
Gould. Al that time they were located at No
Broadway. Their schedules showed: Liabilities,
SsS8 That firm had succeeded Field, Lindley &
. Co, which formed in lS7 Edward NJ Field,
the senior partner is the Of the late Cyrus W.
NJ Field, and was for time confined IN asylum
after the failure, but subsequently released.