, 1872-12-17
THE NEW YORK TRIBUNE,
Sale Of a Majority Of the Stock
to William Orton.
WhiteIaw Reid Resigns the Managing
Editorship.
Most OF the Editorial Staff Withdraw.

New YoRK, Dec. 16.-Fifty-one shares Of the
capital stock Of the Tribune Association, con-
stituting majority, we're to-day sold to Wm.
Orion. The parties going out beside Mr.. Sin
the dead proprietors, are George Ripley, White
Rocker, Phiihp Fitzpatrick, z Patrick ~ o'Rourks e,
and J: c. Aver. Each Of the old
proprietors was earnestly requested to retain at
refused, one selling $4,000 worth. and the
other SIC, ,ooo; Messrs. Ripley, Rocker, Fitz-
patrick, and O'Rourke consented to retain barely
one share each. DR.. Aver sold eight Of
ms fourteen shares OF the ffty-one shares
for Schuyler Colfax, who is to be invited to as
sumo the editorship. Mr. Reid was requested
to remain, but declined, and announced that,
Immediately on the making Of the sale, he had
in-chief to the Secretary Of tho Board of
Trustees. hlr. Hay also declined to
remain editorially connected, and other reBigna-
tions from the staff hare since been rendered.
Mr. Orton then requested Mr. Reid, as per-
sonal M favor ,:.t; to remain in charge Of the
changed, ard he consented to remain for the
present week. 1t has been for forty-eight hours
uncertain to which side the sale would probably
DO made. The majority of the trustees, who de-
sired to continue the paper on the basis Of Mr..
Grceleys card with Mr, Ried at its head,
needed only eighteen shares Of stock
to secure . clear majority. Mr.. Reid
offered to buy these at &c, ,ooo share cash; or
at considerable larger price, but 1Ir. Sinclair
from making up the number. ALessrs. Reid d;
Hay also offered Mr.. Sinclair $3.50, 900 for his
own shareS and the twelve of
the Clark evtste which he controlled,
AZ 6on5 ba tof ASSN
citation to sell to them before selling at the
came price to an outside party. Sinclair,
however, claimed to be- under obligations to
others, which he could lot discharge save by
with Mr: orion. It is reported tia: e1-Goy-
ernor p. D. Morgan, e1-surveyor A. s. Cornell,
party are to unite with Orton in carrying
stock: In the final aale, Mr.. Sinclair re-
and, It is understood, desires to continue as
publisher. Those siding with Messrs. Reid AID
Hay were George Ripley, Thomas N. Rocker,
Philip Fitzpatrick, Patrick O'Rourke, Oliver
Johnson, G. A. Runple, and John F. Cleveland,
his own stock and part Of the Greeley estate.
Special Dtspatch to The Chicago Tribune.
New YORK, Dec. 16.--The editor of the Brook
lyn Cnion, who is an intimate friend Of Mr.. Col
fax, says in his paper, this even
ing; ut is not yet certain that Mr.
Colfax will take the position of editor Of the
Tribune, to which he has been invited, but it is
probable that he will. The obstacle to his &C
,eptancc is not of pecuniary nature, but one
affecting the future courso Of the
paper. The propriotors, or part
II them at least, desire that tho paper |
shall be continued as an independent or neutral |
Journal in politics; but Mr.. Colfax is states
nan Of positive political principles, aud with .
that he cannot afford to falaify, md
ae declines to accept position which would !
him before the public |
or fetter the exercise OF his Judgment.
His friends, and people who wish well to tho
Tribune, will be glad to learn that if Mr. Colfa1
consents to take the editorBhip, it will be on the
condition Of perfect freedom to act according to
his judgment and his convictions. On any other !
serns his sditorshio would be deception and I
serious mistake"
It seems, therefore, that Mr.. Colfaxs terms
Ire absolute editorial control and it is this point
he Tribune stockholders now havo under con-
sideration.