, 1876-01-12
The Purchase Of Greeloy's Paper by
William 0rton, Jay Gould Ad-
vancing tho Money.
Schuyler Co1fax Selected rs Editor, but
Finally Declines tic Position.
Whereupon Gould Turns Over the paper
to Whitelaw Reid.

founded. and which represented 60 much OF the
mcana OF ILLS associates,
wAs ABOUT 70 COLLAPSE.
lie folt that he hal boea tho inntrument Of
bringing shom to ruin. His acceptance Of tho
beral-Republtcan and Democratic nominations
bad bceu BY tho verdict Of tho poople, character
lied "a gfoat mistake. Old friends had falloo
Away from tho paper, and nsw ones had not
como to take their plaoes. With bankruptcy
htarfng them In the face, the Stockholders
fouud great fault With their unfortunate chiof,
holding him aod bis immediate frlondh and CO.
adIutors IN the Office rosponaiblo for tho tlisas-
tors which had befallon them. Dir. Greolcy, who
Was completely prostrated undor bis private
gricfs anti public failures, s1ccumbed to tho et-
uatton. In lowing tho Republican organization,
no had put iu jeopardy The psopufty Of bis asso-
cia!os. and lost tho high ntako tos which As
played. Ilo now resolved. 1t al persons, sscrl-
ticcs to mako the ssoohhofdosa such reparat1nn
III he best could With thia object In ytew, he
said 10 siuc1atr, his publisher:
"snn, feel, 40 onr people say. that. In Tits
property In peril. Il Ia my duty to do what can
10 repair the zibchief. To this end. those Of M
WHO wczo instrumental In bringing about this
stato Of things
We must put the Tribune into now lands. It
must be made thoroughly lsopablican. md bo
coni!dod to the hAndH OF a stEalghs-out Republic
au. This n,1lst be aonc at once, becauBe. II It
INIT, the bulk Of our ~eckly subscriptions, on
which no largely rely, md which come In about
the lat Of January, Will bo lost altogether"
Mr.. Htucltir cast about for nome psononncea
Republican. whose name or reputation would be
guarantee to tho public Of lis political orlho-
do1y. lle eventually txed upon schnylar Col
Meanwhile. Mr. Greeley. who had made few feeble
Efforts to resume work temporarily on hia aoer,
car1eaiusa which Nast drew .! Wbitsax neit waytus
oE poor Old Horace ~ he returned 10 hts old sanctu.
win . eon'c.nptuons, 90 wea yonus man; 90
from ths r!sco Of bis furnor power aud greatness c
fel! into ac.iicd melancholy, and ia b1fto o. hls
heart. -
Tho keen struggle for tho control which during this
tnterregnnm had btrn going on tpwccn tho PUBLISH
ets and tic Young Editor Of tho Tribune
WAS NOW BROUGHT TO A FOCUS.
Fifty.ope eh.rvs would be meiority iutersat. NJ.
sncs!f waa tho fnsrcss indlvausi owner. aud by the
Ti 9aA!e wesIa @ was sapros:a 10 b Wealthy man
William ossou, President Of tho Western union Tells
graph Company, whose relations sith leading capis.l
ests with success. To him he ungolded his plans.
ThH gentleman, xho ts earucat Republican, saw d.
t thn "a M Of nnna ~ TIT ss
Soul elvo 70 the faithful assurance Ut Tue pullc4l
aud hejp thc thing ough Nj. oson asEcd snelair
20 eoad ct majority Of tie 1,'oan; stock. sin;
e as s
two Wills af sIr grseiey 70 To up tho sAare* be ho
quelthed to his children, and how ssnshss f.lea IN
ally however 10 secured aftg-ono aharps and so To-
Mr.. ostou thsreapon procured sutnc.eas number
Of aubscbcra, Who a4rsed To take tha stock nj strW
per share. 8iiisa!r, howeseT, coul not dahror The
ac.tp much Of balna 70 peso f9r q lo.ne, unlcsa he
cliued TO flsnth, and tho whulc thing
srEAED LtEELy TO FALL THROUGH.
Know. Il ts fs ns.a1e 1 j.; oS % WIN Il a n I'D nU
srte.siys md 1arnonsua dealings With Mr. 1Iorscc
t. 1 IT,, M os Sfs
Of It. remarked that ho Lad been solicited 70 iii
IN prereutnE he control Of tho F'au'e from passing
The latter explained thst be WIS merely a.ssn9 to
e. she @.or4 e y
placing Il In tho ban4s Of welknovn Republicans Of
character and ssand!lg aud that the difficulty which
caused tho delay was pnraly ono of detail. 1t ia-
esprient and anoat impossibIo to buy aud TRAINER
by small parcels. What le needed wla tho ready
money tn buy individually tho majority tutcreat In
order 10 disFttute the shares atterward might be
Mr. Gould asked him how r,nch re,t1y cash was
wanted. a1r. Orion said $5lu.No. Gould ruplird,
Monto- CEissu like,
"1'LL LIT you HAVE THE MoykY"
Mr. Orson ah!d ho would See tfr. Htncair; that Le
had no ptfHonnl object but only acting for Mt.
sinclair. Tho latter did not sce Why tlc noiey 1lso
not to obtained from jay Gould \" veil - An3toly
bocn begun against Aiaa to recover a vast au1n Of
money o,lt of which ho alleged 10 have detrauled
r., hsa not hs Sa4 H.
hia noue, WEI N good aa anybcdys iu such emcr
ill., orion received &,io ono from Jug 6oul paid tho
ssotkho1ers took their scrp, and placed It IN Mr.
GouiAs h1nds collateral for The loan TIL 10 could
distribute It among the proposed nav rnrchasert,-
t1on1d agreeing, any uapaesd to taks II him
liz tho loeb Or 18th of Decsmber tsrrns h.d bceu
uade with Hohuyler Cofax u lIeeomu editor Of the
T.tu,n undor tie arrangement: the ilth, his
aeceptan announced 10 ortou and sinclar, md
HIS HALuTAToRY wA8 rCT IN TYrl:
In Tho Is1nunS otl!ce. Everything WAS apparently
lovely. ani the irtbuN was M Tho point u sosulnv
ost = st1aigh Republican o1gsa nu On De- =,
Whispers cano oHt nccslng tue reputation Of sundry
Cirtati.u statesmen, including Tho vscc-rTeatient.
that thnfe absoutaly nothing In these charges.
Now, hoMsrer ha suoaenlJ w!,hdror his acceptance
~ nd saaa IN Su'S IT, s'a g E.s au =, t
We within few weeks Of tho New Year, anil th,i
thing has got 10 10 lone It once or tho 1hansa New
Years subscriptions Will fslI of rulnouBy. ColfAx
| thas as. colgas ' ~ . '>''s"'
lit. Orion returned 10 NJ yorl, h!a pisIs VII dis
ohse rsonsns Republican fer his ch,i eitior I'D ID
the proposed new stockholdoss did not forward
quot. Of Tho shares. Wh!teiaw Reid VITO hasl in.
cattied very UNPLEASANT facts IN rrRari ia E-
cisr's haa probably given thc<s people
bint, At sll erents, they dec1laod 10 mako good
thhiF auhsctponA
ii waa III embarrassing posltion for Mr.. Orton
Here ls had n,oribIn1 Newspaper on his hands,
without "a edEos foE witch he wa holden sn 35oo
tho purchase and could fofeeoae st any time: md hut
Yesterday <Dec: III eeaseny confessed Aiu4e tho
q r. e.. q tss ~ 19 set
climax Ort1n did not !obk for. 1t is not
rrIltng, thra, that wlcn jay Gould walked inlo
hs oiec about uhrlstmas sImr, and told hin, ho had
| BOLD TIE T1fTY-NHE RMAREa or "TRtDuSE "
eTrcK 70 Wl1lTEIAW nETp.
he fc sonewla relieved. II tstsuo th.t. fntutly pro
tcss!ng, be sl!h:
"H1t, Nj. Gould. you eanr sell thon,. They aont
bs'oEg 70 1ou. cxrept ~ rleJgs for borrowed
unloy."
Mr. 0ould responded. 1'A call loan and call II.
Tour pora lont take 1t 4ln papsr IL 1nsolstnt, anl
its mkns cement has been tua$1a. want my money
or sell tho shares. Give $50 90 and tho shnsc
Asu yours.s
| Mr. Otton--aI can1 It this n,oucnr.n
tIytlI