Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1872-12-24
The New York Tribune Changes
Hands-W hitelaw Reid Ret.res.


New York dispatches have the fol-
lowing:
To-day ffty-one shares of the New
York Irebune were sold by Samuel
Sinclair TO William orion, President
OF the Western Union Telegraph
Company, for $4,000 Subsequent
ly Whiteaw Reid had an interview
with Mr.Sinclair and offered 1886, 900
for 81 shares, an advance Of SIS 600
on the par value of the stock. Sim
clair refused the offer. Reid then
said he was authorized to offer Sin.
clair for sale the shares owned by
Messrs. Rocker, Hay, Fitzpatrick,
Cleveland and others, and Sinclair
Immediately sat down and drew
checks in favor OF those gentlemen
for the amount of stock held by each.
Later in the day Reid called into mis-
room Hazard and Shanks, city ed
ltors, and Informed them of affairs,
telling them that it was the wish OF
the new management that they
should continue their eonnectionwitb
the paper, MIR. Hazard in the capac.
ity OF managing editor. Mr.. Reid
urged upon them to spare no exer-
ton TO make good paper. With
this Mr.. Reid's connection with the
Tribune ceased. Sinclair denies that
he was the only stockholder ia favor
OF Greeley's candidacy and says that
the only one opposed was Mr.. Rock
er.
The parties going out, besides Mr..
Sinclair and the representatives OF
the estate OF the dea proprietor, are
George Ripley, Whitelaw Reid, John
Hay, Thos. n. Rocker, Philip Fltz-
patrick, Patrick O'Rourke and j G.
Aver. Each of the old proprietors
was earnestly requested to retain at
least part of his stock. Messrs
Reid and Hay refused, one selling
$40 600 worth and the other $40, 600.
Messrs. Ripley, Rocker, Fitzpatrick
and . Rourke consented to retain
barely one share each. Aver sold 8
of IA shares. OF the so shares pur-
chased, it is understood 8 are reserv.
ed for Schuyler Coifax, wbe was
invited to assume the editorship.
Mr.. Reid was requested to remain,
but declined, and announced that i'm
mediateIy on making the sale be had
rendered his resignation as acting ed
itor in-chief to the Secretary of the
Board Of Trustees. Mr. Hay also de-
clined to remain editorially connect
ed, and other designations from the
staff have since been rendered, Mr..
Orion then requested Mr.. Reid, as a
| personal favor 10 retain charge of the
paper for little time, continuing its
policy unchanged, and he consented
to remain for Tie present week. 1t
has been for 48 hours uncertain on
which side the sale would probably
be made. The majority of the trus-
| tees who desired to continue the pa
per on the basis of Mr. Greeley's
card with Mr.. Reid at its head, need :
ed only Is shares Of stock to secure a
clear majority. Mr.. Reid offered to
buy these at $4,000 a share cash, or
at considerably larger price, but
Mr.. Sinclair had secured enough Of
them to prevent him from muking
up the number. Messrs. Reid and
Hay also offered Mr. Sinclair S350,0O0
for his own shares, and the II OF the
Clark estates which he controlled,
and all the other trustees insisted
that Mr.. Sinclair was bound by the
laws of the association 10 sell to them
before selling at the same price TO an
outside party. hi. Sinclair, however
claimed to be under obligations TO
others which be could not discharge,
save by completing the transaction
of 81 shares with Mr.. Orion.
Ia the fna! sale Mr.. Sinclair re-
tanned three of his shares, aai it is
understood desires to continue as
publisher. Those siding with Messrs.
Reid aud Hay were George Ripley,
Thomas NJ Rocker, Philip Fitzpat-
rick, Patrick O'Rourke, Oliver John.
son, G. A. Runkle and John +.
Cleveland, Mr.. Greeley's brother-in-
law, who represented his own stock
add part of the Gre ley estate.