National Republican. (Washington City (D.C.)) 1872-1888, 1875-08-17

is that he has managed to raise money
enough to buy an interest in one Of the
Great Dsilies, as they are called.
Asa sequel 70 this we reprint the follow
ing from the New York San, as an expla-
nation of Jay Gould's management of the
Tri5uae, and the Western Union Tele-
graph Company:
"The league between Gould and Orion is of
older date than our contemporary supposes. 1t
began with the great pool In Northwestern
stock in the autumn of 1872, when Jay Gould
and Horace F. Clark combined and took sew
eral millions from Henry N. Smith and Daniel
Drew. In that pool Mr.. Orion was q sort of
side partner, and when Horace Greeley died
and Orion bought the majority of the TRIBUNE
stock, Gould and Clark stood behind Kim ahd
put up the money. Not long afterward Clark
died and when Orton Withdrew from the
ostensible ownership of the Tribune, and
Whitelaw Reid, the young editor of the power
full mind, took his place, Gould became the
only capitalist, the interest of Horace 7. Clark
being paid to the executors of his estate. The
friendship between Gould and Orion, however,
was not Impaired, and now that the former is
engaged in an immense undertaking to bull
the stock of the Western Union Telegraph
Company, their offensive and defensive al
lance is renewed, and is doubtless more cor
dial than ever, Meanwhile the Tribune,
founded by Horace Greeley, daily illustrates
the power of humbug and the potency of
fraud by supporting the stock jobbing schemes
of Its owner from behind the mask of pre-
tended virtue, science and beautiful senti-
ment." ....... ....---
This statement the Graphic supplements
as follows: sa-=..7. ..
'Thc Sun does not complete the story. It
EVIDENTLY has not all the facts in its possession.
When Mr.. Orion was frightened at the RESIGNS
ton of the working staff Of the Tribune at the
time he proposed TO make Schuyler Colfax its
editor, he was induced to transfer the fifty-one
shares of stock Of which he had control to
William Walter Phelps, who was the dummy
of Jay Gould in the matter. The shares, It Is
understood, stand In Phelps name, but are
mortgaged to Jay Gould for 1000, the
marked up value Of the stock. Il Is under
stood that this money becomes due in Septem-
Der next, and it is believed also that the present.
management of the Tribune has been very
anxious to raise this money to pay off the loan
made by Jay Gould. Although the Tribune is
potentially valuable property, capitalists do
not think its shares worth $40 900 each. Next
month will determine whether Mr.. Reid and
his associates will get control Of the Tribune
absolutely, or whether 1t will fall into the
hands of Jay Gould. Mr.. Gould is not nomi-
nally the owner of the Tribune, and he may
never be its owner If his mortgage can be salts
fed. The course of the Tribune is supposed to
be dictated by desire to please Mr.. Gould
rather than controlled by any proprietary in
terest he has at present in that concern"
We submit that these explanations are
not calculated to impress discerning public
with very exalted idea of the virtue and
independence Of the editors Of these leading
New York dailies. Evidently Jay Gould
is the master spirit. with Reid and Jennings
as his abject servants.