The Cincinnati daily star. [volume] ([Cincinnati, Ohio]) 1875-1880, 1876-05-01
"Gree1ey'S Tribune"

So emphatically was the New York
Tribune the offspring of Horace Gree
ley's brain and hand that it, not i'm
properly, became best known by the
name of "Greeley's Tribune" Its more
recent career and present condition full
ly confirm the propriety of that name,
and give ominous significance to the
title. As it was only the ion-hearted
Richard who could WELD Richards bat
tie ak, so it was only Greeley who could
WELD successfully the ponderous pow
ers ofhis Tribune. In other and feebler
hands it has become what the heavy
armor was to David, too weighty to be
borne; and the ambitious youth, who es-
saved to wear the coat of mail suited to
a stronger champion, finds himself sink
ing under the burden he is unable to
sustain.
The condition of the Tribune under the
.modern management is thus presented
by the N. Y. Stsn in its issue of the 9th
ult. wherein, speaking ofthe 1ribane, il
says:
The paper is in bad way, and though it is
now economiZing and pinching in every direc-
lion to bring its expenses as nearly as possible
down to its receipts it is still losing money
every Week; how much we can't say, but prob
ably 81 900 a week on the publication alone.
Add TO that u yearly loss of about $4,000 on
the prepo ferrous building, and we find that
from $1,000 to Sl75J week is lost by jay
Gould's organ.
Plainly something must be done. Jay
Gould's call loan on the fifty-one shares put
IN the name of the young editor, originally
$4,000, now amounts with interest to $622, ,00J.
Besides that, he holds the bonds of the Tribune
Association for 900 out OF $780, QUO issued to
finish the building and pay the accumulated
debt Of the losing concern. Thus Jay Gould
is ont about 81 ,0UOU0J. Besides, the Mutual
the monstrous building, and on all the land of
the concern. improved and unimproved, for
S30U,U00.
Thus, Independent Of the young EDITORS debt
of $622, 900 to Jay Gould, the Tribune, besides
its notes and acceptances given 10 paper deal
ers for what every sound journal pays cash.
owes S650,000 debts OF its own. In addition,
it has sunk the $lU00y0 building fund
accumulated during Horace Greeley's life. and
the further $iU0 0OO obtained on his life policy,
in the great pile of bricks and mortar put to-
gether with the sole apparent idea OF showing
how high it was possible to run up newspa-
per building, ana made so staring and motley
Inat it looks like gantic advertisement OF o
quack medicine dealer. 1t is now worth, per-
6aps, its mortgage of s300, 900, and no more.
Among old nursery axioms is one that
enjoins us not to "build our house too
high" The new Tribune system has
been ignorant or unmindtul of this in-
junction, both in things material and ed
itorial. 1t has, from the beginning OF
the new dynasty, adopted the soaring
tplan, towaring up by brick and mortar
and by editorial pretensions far beyond
its just equilibrium, until now the ques-
tion is--"What will he with itw The
Sun propounds 1t thus:
Shall Mr.. Gould then let the Tribune be
thrown into bankruptcy and take the concern
for his $330, QUO bonds? This would be hard on
the owners OF the forty nine shares besides his
own, utterly wping out property that during
Mr, Greeley's life was worth nearly $500, 100,
and which is SAID TO have paid ten per cent. on
that amount For more than three years, that
IS ever ss.:ace MIR. Greeley's death. they have
nyaited in vain for dividends. and now there il
a probability that the whole capital will be
extineuished. 1t Is cruel fortune that i'm
nends over them. Many OF these stockholders
are utterly unable to bear the loss. Even the
passing OF the dividends for the three years has
been great hardship for them.
It is sad to witness the "decline and
hl" OF the institution which Greeley's