The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1876-02-04
I w Jay Gould Got Control Of the
Tribune" .+-...4..


The Sun of Monday published what
seemed like true story, showing how Jay
Gould secured control of the Tribune. It
.xonerates Mr.. Orton from all censure in
. scheme in which it was supposed he was
party to turn that paper into hands OPP
posed to the Republican party. The San
Shows that the financial condition of the
Tribune, after the election of 1872, was SO
bad that Mr.. Greeley urged Mr.. Sinclair,
the publisher, in justice to the stockholders
to announce that new arrangements must
be made and new parties brought i'll to re-
establish the paper as Republican organ.
Unless this was done Mr.. Greeley was of
cue opinion that the Tribune would lose all
It's weekly subscribers. Mr.. Orton, Presi-
lent of the Western Union Telegraph,
vas appealed to in this emergency, to get
the paper out of the ditch into which Mr..
4recfey had plunged it by running for
President OH the Democratic ticket. Mr..
Orton set TO work like business man and
opened correspondence with Schuyler Col
fax, inviting him to the editorial chair OF
he Tribune. Mr. Orton through Mr.. Sin
air. procured sufficient number OF stock
olders, who agreed to take the majority
: the stock, 81 sians, at $4,000 per
rare Jay could happened into MIR. Or
ms Office about this time, and the con-
,ersation driited INTO the contemplated
sansfer of the Tribune management. Mr..
1rton observing how Difficult it was to ob-
AIN the amount Iii cessary from small
stockholders to complet. the arrangements,
Ir. Gould volunteered 10 raise tile money
nd take the stock as security, making it a
all loan About this time Colfax's connec-
ion with the Credit Mobilier affair became
ml.lic, and it was found that Colfax would
tot do for editor. Things began 60 get
mixed with Mir Orton and Mr.. Reid be-
;an to get lively in his own behalf. 1t is
,timated by the San that Whitelaw Reid,
ike anoth.,r very notorious character III the
cd book, took Mr.. Jay Gould up on The
aountain and said: "All this great power
Is thine; turn over the stock to me, and |
viii serve you unto the end The Repub-
lean capitalists did not come up to the
catch AZ promptly as Mr. Otton desired
hey would. and ne begun to realize that
he had an elephant ON his hands that was
costin somethin.s to feed, and nobody was
willing to g put up red 2 90 SEQ the ami
NAL. In this condition Mr.. Orton found
himself during the holidays IF 1878, when
say Goull entered his Office and informed
lin that h. had sold the fifty one shares Of
lie Tribune to W hitelaw Reid. Under
lese circumstances it was great relief &c
lii. Ort1n as he found q counter-rritssnt Al
| work from an opposition establishment,
.llicsl prevented parties from subscribing
| Tor the sock which they had a4reed &c
IKE. Mr.. Orton, says the bun, family
rotesting, said:
{. But, Mr.. Goald, you cant sell them
They don't belong TO yon except az 4 pledge
:or borrowed money
Mr.. Gould responded, lisa call loan,
al s.all ii. Your people don't AXE i
| I'll paper is insol etlt, and IFS arransein ~
las seen kllavisll I want my money @
Ill $ Il the ss,ares. Glvs me $5lo, OOo ane
The sh>re- AZ yours. &
Ml. Orton--I can't at this moment.
Jay GouId-I'I i give ys.u m hour to raiss
ene money ur iii sell the stock.
4 Mr.. Orton went out and walked awhile
ii another roosn, and came back confsssinf
.ls inability to raise the money.
Mr.. Jay Gould then said: s ! "a ve soIt
lie shares to Whit. Ian peid. =
sIr Reid came II and paid Mr.. Ortos
1910. .sa,. HI. Drson transferred 20 DIT
.ssia the sto.-k. and slasiorsed Nr. Reid
heck over 4, sIr. 5olili-
mi this ls i. way the Itlbuas fell int
tas lastasls af Ia, Gould. his account
ssaicg. Il j. Il, sayeaaa iii. of authority an
til. rsissY j MIR t)ft ii From y blame
i he matter of transferring the Trf5skne