The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-01-25
JAY ooULD AND ms STOOL PIGEON.
The Struggles Of Young Editor who is Held
In a Wise.

To THE EDITOR OF THE SUN-Sir In
previous communi cation referred IN the fact
that portion Of the Tribune matter IL paid for
by Jay Gould personally. One might suppose
that n cordial understanding exists bet ween Jay
Gould and Whitelaw Reid which would lllow
all the bills to be audited at one establishment,
but at times no little diplomacy is necessary to
reconcile the wishes Of the man OF finance to
those Of The professor OF journalism.
At times Reid seems to be ashamed OF the
CO. \ and kicks In the traces. Sometimes
1t turns out to be a mere friskiness. A day or
two Of leaving alone is then resorted TO by
Gould. Occasionally the stubbornness is more
protracted ana interferes seriously with Gould's
stock specul tiYns. Then the driver tries hoth
spur and lash, and so thoroughly is the Tribune
tied up by the WHY manipulation that X, Id is
An instance 81 this kind happened In the
spring Of 1874, when GOul made his celebrated
1hs,ausht on Eile. me ilnes oi sho Is which
ne put OUT were enormous, and the slightest
rise IN thepricc OF the stock Obliged Gould's
brokers TO check out immense sums to the Ger
mans who We're supporting H..
Gould had his wires all laid for a terrific on
slaught upon the stock.
TIE Tribune was to publish the facts. which
he had obtained at great expenditure OF the
company's inside condition, and comment on
them editorially. TINS would bring about an in-
The Legislature was taken care OF bv corps
OF lobbyists, who were to be backed by the
aud the attack was about to begin when Mr.
Jennings Of the Times, in a short editorial para
Rrhph. went for REID and the scheme. So
thoroughly diu he explore them. that Reid
weakened, and would publish not "A line. His
anxiety was for himself and the Tribune. Gould's
was for himself and his money. The street 4"
began To think that screw had loosened some
where. ana IA the promised revelations did not
appear. bought all that Gould sold.
The market strengthened. Gould tried tho
inactivity policy. hoping Reid wOuld overcome
his timdity II left alone. Reid was Thoroughly
frightened. however, and the lapse of a lew uaN y
did NO, alter his determination. Parties who
had btrn given point bV Gould Ia sell Erie a.
gan 10 repr0acn nim vita perDjy. or 1 least
doubted his ABILITY To cary out his prucfainmr.
Then II was wis cred about ia certain u iar.ers
that /; there was no decline Ia Ere theie womb
be IN Ma York Tribune stock that a uall Loan
on hfty one sha es would have to Ice provided
for. Gould said li;tle, but he did more. and
the arguments which he used must have bee n
cogent. for the Erie matter was thoroughly ven-
tlated in hoth the news ana editorial Co,lnns
OF the tribune. The Investigation from Albany
did not take place. as the season Was then too
far gone but the stock broke handsomely, and
Gould and his friends were satisfied.
Had the Tribune continued silent II Is more
than likely that X III would have been Obliged
10 take care OF his tribune stock, and that
Gould. Reid and the Tribune would altogether
have been involved in sncn financial difficulties
as To have made the acquisition of the Union
Pacific Road . impOssibiity.
NLM YORK. Jan. "A. STIRAnoIrr