, 1875-07-18
THE NEW YORK TRIBUNE.
Who Owns lt4

Htto Ierk Sun.
BosToN, July t.-1o Ue hditor Of ths Sun Viii you
please be kind enough to inform the public in general
what A this talk s about Jay Gould, the young editor
and tall tower? II Tho young editor u m man you
popular pAper7 We hops your statements arc cor
rect rs We think TOO Of the an to have it say
snything to injars ANYBODY ~ ~ an5ussy; a hoping you
0'"' ''''' Nj WIFE AxD l.
In 1uswcr to tie above we give tha following
| from the New York correspondence of the Bos.
| ton Herald, merely adding that the facts as
| stated 10 the extract below ara generally known
! in newspaper circles hers. In saving that the
young editor is the tool Of Jay Could tho Stn
| does him no further injury than to pubioh Al
| injudiciouB fact, and no ona can say that We
! treat the young editor unjustiy when wo de-
Mounce, as we d. such prostitution OF Journal
''T + has beer understood for come tim. in New
| York that Gould makes no secret Of the fact
! that be controls and uses the Tribune. That be
does own the controlling interest in the CON
Germ there is really no room for doubt. It is
explained as Follows: When in the winter Of
| 1878, aIr OYton, of this Western Union Tela-
graph Company, ascertained that Colfa1, whom
he was about to make editor Of the paper, WAS
| lascally fraud.-whlch came out just then IN the
Credit Npbier exposnres,-he wis glad to sell
out the controlling interest TO Reid. who OBJ
tanned from William Waiter Phelrs, bis young
millionaire friend tha half million dollars re-
anired for tho :. anHaction Mr. Phelps Was su!o-
Neld and the future Of the Tribun<. He went
into the operation aa permanent Investment
But in the summer OF 1873 Dir. Phespa had q
long and dangerous fit OF sickness: Misfortune
never comes single to young nl1onalres, anT
more than to poor people. When lie got back to
health and his business he found that the panic
had prostrated tho business Of the country, aud
that the huge sumo Of money Which he had put
into ce.tain Texas railroads wcfo sunk, and IN
deed that his fortune was In fair tFay to disap-
fnf i'm
to recall ftle money which he had given TO Reid
to purchase back the control of the Tribune.
Then Dir. Reid was compelled to go down into
Wall street and raise the money to keep the
paper or retro from its management. But
Tribune stock had become rather doubtful in
ycstmeut for careful men who wanted to be
sui Q OF regular lividende. and tbere wns but one
man who wanted to take the load of Mr. Phelps
shoulders. ~Fhat ~as Jay Gould. To him the
control Of the Tribune vas valuable. and in his
operations agh,nst Pacific Mail. and on the
street generally, the paper has rendered him con-
stant aud eficlent service. OF course it made
very Htse difference, to Gould whether he de-
rived any profits directly from the publication Of
the paper. He could sven afford to run it At q
loss OF 1000 OF $l00.o 900 year, while count
ing up his gains in stock speculation bg the mil
lion. It s estimated that Jay Gould has made
from $40 600 900 to els. .000. 600 BY his operations
in Union Pacific and other STOCKS during the past
year.
Commenting on these statements, the Cincin-
natl Commercial eayb:
~ ;.fa~.sS .,.t ~ co,1A o,-,, tea 7,r;1,,,r-
~ 10 h+,,,d;na h.s
,'es- uss aa.e5 aed -s e1-ons;-e na1sn,nsr
eh3,ehd ~ anh h.c.n.a NJ Wh.e.r Ran IL
pu..s sua,assor ~ H. Grea1ev 1-.- ..nt csntal;sF
ent1 t5ss hn " Laa not buen talking abons tne jag
Goaia l Charge
1t .slli be remembered that Mr. Reid purchased
the sAa-es Of stocks THAT gave bin control OF the
Tribune OF Mr.. William Orton, tho President OF
tie western Union Telegraph Company: IA
did this NTH the appreciation aud cooperation ot
all the stockholders engaged in the editorial de-
partment orton was glad to SELL and sold at
price that w.s yery moderate. Tie tribune
Just then seemed to hare lost its grip. Just now
It certainly has not the appearance OF licking
yitaty.
We presume it is not unfair to assume that,
sympathy Of such men as Ripley, Taylor, aud