The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-04-25
JAY GOULD AND THE TRIBUNE.
How Mach IL Costs the Great stock Gambler
10 Garry on His journal.


10 Curry on Ills journal.
To THE EDITOR OF THE SUN-Str: Money
lenders down town are wondering how long the
NcW York Tribune Will be able to stlve OF bank
ruptcy at the present rate at which the paper is
losing money. The real misfortunes Of
the Tribune began when It was bought
UP by jay Gould, who at that time thought the
Young editor was a powerful writer and com
potent business IN anager. At present he knows
that he was mistaken, aud that his stool pigeon
possesses ability neither to conduct the editorial
nor the publication department.
1t Is true that the Tribune was injured by the
course OF Horace Greeley In 1872 when he ran for
President: but Its loss Of circulation and innu-
ence then was slight compared with that which
has been ocoasoned b. the stock jObbng Of Jay
Gould and the silly and worcestershire perform
onces Of Whitelaw Reid.
Jay Gould feels very ba ily on account Of the
condition Of the Tribune, and naturally has very
little affection for the person who has proved
so utterly incompetent to take care OF the
property with which he was intrusted. MIR.
Gould has been obliged al various times to lend
financial assistance In very large amounts; and
not only has he received no return for his in
vestment. but at present II does not seem likely
from the stock obbing articles which are PRINT
cd at his instance and IN his interest. These
articles are written by himse occasionally, and
known 10 belong J I'm. &C.
lucrative; now they have no influence, as It Is
known that they appear e. decoy people into
traps where their money will be lost.
Were IT not Tor exposing the fact I'll at he is the
owner OF the Tribune Gould would probably
have ousted the young editor before this (; but
the knowledge that the exposure would scare
away the few remaining subscribers and patrons
otthe Tribune has probably deferred hin from
such step.
OF expenditure above income. Persons VINO are
familiar with the business,sstimatc the time va
riously at from three months to one year. 1t is
said, too. that the entire situation Is cnargeaoo
to the schenings aud advice OF the oun9 edi-
by Mr.. Gould In the erection Of the building aud
the management Of the Journal
Let us see to what an extent Mr.. Gould has
been Involved by thl Tribune speculation, and
II Will be easy to measure the extent OF his af-
known that Mr. GoaId's regard foS ali people is
based upon the amount Of rist which they bring
When Jay Gould advanced the money to buy
nfty-one shares OF the Nel0 York Tribune about
three years and hall ago..he aud Il IN thls way.
He loaned the money (<5lO0JO to Whitclaw
Reid to purchase tue stock. IL was put in keid's
name. He held the shares. Mr.. Gould, how
ever, took "A call upon them. bv which he can at
any time either get his money or demand the
shares. This was GOuld's first Investment In the
Tribune. since then ne has not received any IN
terest upon this sum which he advanced. The
interest at seven per cent, without compound
luz, would now bring that entire debt w TO
Elated with his success In obtaining ths pow
erful ba ;kng OF Jay Gould. the young edit or
thou2ht he must carry out the plan Wnlch MI;
Greeley had In prospect before hts death, VI
erecting better building on the tribune prem
ises. lie deemed II pest, however 10 construct
one Of more striking dlnenslOns thau Was de-
signed originally.
A fund OF about a hundred thousand dollars
had been gradually accumulated by the Tribune
Association for this purpose, ami they also mai
the proceeds OF hundred thousand dpH ir pol-
icy on Sr Greeley HE; but az all THIS was nsuf-
nsi NJ a IL
The Mutual LIE Insurance Company advaht cd
the TRIBUNE ASSOCIATION SoOJ'CO and took mort.
gage lOr S4OO'OV, tue understanding being mat
the whole sum should be paid, AS II might be
required TO erect Tue whois VI tne pIo9ossd
when <3DO,0OJ had been put up by tue company
Tor the tall tower section. they refused 70 tur-
nlsh any more, except 70 construct the re
malnder OF the institution. ihua, Will d.e
mortgage appears on the record as Tor SiOO,OJO
II IL really Tor <JO'OOO ONLY, al present
The parties VINO assentei TO this mortgage,
GATED Nov. l., 1873, as owning two-thirds OF the
Stock were; W nllelaw helu, Of shaIes y n.
hunhle, Ihomas y; ROCKER John hty, ohVer
Johnson, fnHlp n. rtzpitich, Iaroih, r.
Sidrks' d r.. OIoveiahu, osolke hpieS' .. y.
Cleveland iguardIsn', es'9 snare; Uhs'; ,9rss
executor, o SHARES; ahu Il. IL Jenny slares.
But the tJJJ,UO being TOO little To cOinDiete
the TAI tower AMI pay tue enormous
losses on the paper ~ was ueelued some
tlpe hao 10 MAKE IN issue % Cuhus
70 inc amount OF Seoy,W inis was
zone ana Jay uouiu LOON $1,000 Vi hhenl.
ihsy were pdiu IoI Va mon ! avinc stocA anu
SINKING iuhd bonus. IL Is Conjecture ~ inauy
quarters that tnis issue wa, move OF Oould s.
mace 40 thdt ne coulu come IN shead ol Vther
credltors IN case OF tne paper pelhg thIoWh luto
pahhtup'cy. ~ Is s9lu tnat tnls mo!teago Is
heiu W. .esIoD, ~ oiuol n.y. W w eii ~
among tne eled,eots ".iSn wJuiu neCsssHiii
tollom Tvs Ioco,H'nE az sho hSe,sse' ,ihos' ~
rs me.i hnO"n 'nAS ~ Sa,es ~ iSis tne
oauhruptSS 81 a ooIpoIation ~ when ne Is IN.
tvIestcui nc equJn'1 iesot.s " wv i
OF an ISSUE OF uV 5 Mnl.n ne tahNs nnse'', %
u I ee ~ ~ '"S N1SS VI '"'
nr van .Snrslnps hn yo, 7rg,,,
AZ ptsso"', tnete,oie' 'uo W W LIN sD"n
pI"pcIH - ~ ~ ,kskyu lo',,nsiis lvr $1,000
le.S iv' so'vVyi' oiit upCh ,,s ~ '"'e'-
ess hus' W paw ~ wv .ate Va Pst Nvtlt. .
NoM, let us see W MuN eAtvut tue iIvuWI "
sun eIing rom tne erev.On oi VIC looi 81 ou'ii
ing MhlCh uis peen put upon Tue pithlsos ny
| the young eultor ,-
me basement y iet 10 hoster biW LOT u gin
mn NJ tue ATE OF SeUO year. me pl- room AZ
the entrance, Tor "nich a large rent was expect
ed, mas not beeh ltAseu al an. ABOVE TINS
| there are rooms enough uurehted 70 make up
one moor. me IriDune uses me "hols nuIuahg
from tue seNsuth moor uP uVro He tISh ivy
| az. rage $iOVO ger leer. We have total income