The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-12-20
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.aDMne aFransfornsaEaos-
s~rfsnyitr eosfnx AssuIIess fl,e Effso-
rinl Cfsair-History OF Tire Negoaia.
from the New York World, istfLl
The following is the history Of the events
which have eliminated In the transfer OF the
editorship Of the Tribune to Dir. SCHUYLER
Colfax:
On Friday last there was a meeting OF the
trustees of the paper. When the future
course and management came up for discus
sion It was found that FIVE trustees were in
favor OF continuing Mr.. WhiteIaw Reid in
the management, and Of carrying out The
programme laid down by Mr.. Greeley during
the brief period after election in which he
again exercised the editorship. The other
two were in favor of inviting Mr.. Colfax to
the editorial chair, and of wheeling the IA.
per into line with the Administration sheets.
h stockholders friendly to Mr.. Colfax
and his policy, finding that the decision was
going against them, determined to endcavor
to get up n combination that would enable
them to carry their ends by controlling a
majority of the stock. Mr.. Samuel Sinclair,
the publisher of the Tribune, was then found
to control hfty-one shares. Mr.. Reid, Mr..
John Hay, and some outsiders raised the
money to buy thirty-two shares from Mr..
Sinclair. The latter refused to sell at SO. 900
n share. Tn. opposition offered SO 500 per
share, but Mr.. Sinclair said that his obl;ga-
tons 10 certain other stockholders made it
imperative upon him to refuse the offer. lie
then sold to Mr.. Orion.
Mr.. Reid, finding the other stockholders
Indifferent about selling their stock, saw that
he was chcckmated, and on consultation with
his hackers concluded to give UP the battle
and sell out.
There was then n general transfer and
" unloading" Of stock by small holders,
William o. Orion and his party being the
buyers. Mr.. Reid sold his four shares, and
Colonel Hay his two shares. Mr.. Ripley sold
all of his except one, Mr.. Rocker sold all of
his except one, Oliver johnson sold his one
share, and takes the management of the
Christian Union. MIR. Fitzpatrick sold all
Of his except one. Mr.. Runkle is supposed
to have sold his. Mr.. O'Rourke sold all of
his except one. This transfer practically
eXtinguisheS the "associative" feature of
the paper. Mr.. Greclcy's favorite plan con-
corning the management was that all worthy
superintendent Of the concern should have
a voice in the management that should he
something more than nominal. HencefOrth
two or three large stockholders will have I'M
limited sway.
Mr.. Orion called upon Mr.. Reid on Mod
day night and offered him the position of
managing editor. Mr.. Reid refused it. Mr..
| Orion then proposed to Colonel John Hay
to retain his position as editorial writer.
Mr.. Hay also refused. Mr.. Orion then
| offered Mr.. Uassard the position of managing
| editor. Mr.. HasSard has the offer under con-
| siderition and will probably accept.
Mr.. Reid will continue in charge of the
paper, as u favor to Mr.. orion, until Satur-
day pext. He will then probably study the
| field for some months before engaging in
any new enterprise.
Eight of the shares bought by Mr.. Orion
are said to be reserved for Mr.. ColfaX. DIR.
Aver parts with eight Of his fourteen shares.
The writer called yesterday upon Mr..
Whitclaw Reid for the purpose of learning
how close an approximation of facts was
| contained in the story circulated as to the
| change of ownership Of the Tribune stock.
MI. Reid said ::
at is true as to the greater part, although
| a few of the details are somewhat incorrect.
| AT the meeting yesterday (Monday) Dir. Will
liun Orion purchased tifty-one shares of the
| stock, thus obtaining Il majority and conSe-
| qucntly q controlling interest. l offered to
take thirty-two shares at $4,000 q share, in
stead Of sixteen, rs is reported, but that
offer was not accepted"
1t is said that YOU will retain the manage
mcnt Of the paper until the end of the pres
ent week.
"Yes; | consented to do so at the request
of Mr.. orion, with whom my relations have
always been very cordial. or course | could
have no connection with the Journal after 4
change of policy had been decided upon by
the stockioldcrs.'
..How many Of those now connected with
The Tribune accompany you III your retire
ment:"
MANY offered to do so, and sent in their
designations; but most of those / have re-
tanned. and, in fact, discouraged reSigninS rs
much as | could; so the staff of the paper
will not he materially affected by the change.
| Colonel Hay is the only one who pcrcmptc-
rily resigns, and he did so 4 few days ago."
1T is an established fact. then. that Mr..
ColfaX is to take charge of the Ir16une?"
"YcS; it is to be made al Administration
paper, as | understand it, and he is to eNer-
else the control"
"Will YOU allow me to ask what founda-
ton there was for the story published about
Mr.. Grceley's articles being altcrcd?'
"That is so absurd that ] must decline TO
answer Il further than by referring 10 the
card already made public"
TIE card to which Mr.. Reid alluded was
to the effect that when Mr. Greeley sent the
article entitled Crumbs of Comfort he
wrote a paragraph explaining that he was
not its author and disclaining its purport.
When the proof of this was brought him
he drew his pen across it and wrote another,
telling his sec! cary TO have the first
"killcd," andits substitute set up instead.
The secretary inclosed both to Mr.. Reid, as
he was accustomed to do witha all alr. Greeley's
articles. When Mr.. Reid received the two ar
ticlcs at night he wrote Mr.. Greeley saying
that he would hold them both over for con-
| sideration upon the morrow, and that they
were approved Of. The next day Mr.. Gree
Icy expressed himself rs satisfied with Mr..
Reid'S action, and said nothing about the
Tribunc's making ANY reference at all to the
obnoxious article. The card then stated
some gencralitics Us TO the warm broihelly
affection, never interrupted, which always
existed between the two editors, adding that
Mr.. Reid had the widest discretion in regard
to altering Mr.. Greeley: articles, or leaving
them out altogether. Nothing further was
said about the no%n-printcd paragraphs.
AN EDITOR ARRESTED FOR LIBEL.-[Nor-
folk V1rginian, December 1S]-Yesterday
morning Mr.. John r. Hathaway, proprietor
Of the Day Book, was arrested and brought
before Justice John A. Rosson by Constable
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