<xxxhp 226m 771mv 12435tnl (9.89%)> wilderness 4 PM
You feel ready to bind up more wounds.
Your bandages lose their effectiveness.
You continue to bleed from your wounds.
Your bleeding maims you!
You continue to bleed from your wounds.
Your bleeding wound mauls you.

<xxxhp 227m 774mv 12435tnl (9.89%)> wilderness 5 PM sta
You stand up.

<258hp 227m 774mv 12435tnl (9.89%)> wilderness 5 PM field
The field dressing completely stops bleeding.
You apply a field dressing to your wounds.

next tick...

<xxxhp 159m 774mv 12435tnl (9.89%)> wilderness 5 PM slee
You feel too pumped to sleep now.

<463hp 159m 774mv 12435tnl (9.89%)> wilderness 5 PM
You continue to bleed from your wounds.
Your bleeding wound mauls you.

Still bleeding.

You were bleeding from two separate wounds. The field dressing did completely stop the bleeding for the first wound--you just had a second wound to deal with after that.