Equiping an item destroys the item already equiped

[kalus]

[HP=527/KAI=47]:ar crim
You have removed stormmetal bracers.
You are now wearing crimson bracers.
[HP=527/KAI=47]:st
Name: Kalus Rat                        Lives/CP:      9/0
Race: Halfling    Exp: 577187671       Perception:     73
Class: Mystic     Level: 48            Stealth:       151
Hits:   527/527   Armour Class:  38/-1 Thievery:        0
Kai:     47/47                         Traps:           0
                                       Picklocks:       0
Strength:  70     Agility: 160         Tracking:        0
Intellect: 78     Health:  100         Martial Arts:  386
Willpower: 60     Charm:   80          MagicRes:       74
You feel ferocious!
You feel heroic!
You feel evasive!
[HP=527/KAI=47]:ar stormm
You do not have stormm left unequipped.
[HP=527/KAI=47]:i
You are carrying 3 runic coins, 33 platinum pieces, 15 gold crowns, serpent
staff (Weapon Hand), dusty tricorne (Head), silversilk gloves (Hands), gold
signet ring (Finger), gold jeweled ring (Finger), demonhide sandals (Feet),
crimson bracers (Arms), displacer fur cloak (Back), phoenix feather (Neck),
silversilk trousers (Legs), lionskin belt (Waist), silversilk tunic (Torso),
sunstone wristband (Wrist), diamond-encrusted bracelet (Wrist), amber pearl
earrings (Ears), severed head of Irikani (Worn), emerald-studded bracelet, rope and grapple, mine pass, ruby-eyed skull
ring, black potion, amber talisman,
white gold ring
You have the following keys: 2 black serpent key, black star key, polished key.
Wealth: 3331500 copper farthings
Encumbrance: 1232/3360 - Medium [36%]