Morning journal and courier., 1891-09-18
ANEwsPAPER A CHANGE.

The Palladium Passes Under New
 Management-The Facts About the
 Palladium and the Union.
 Lawyer James T. Moran of Tyler, In gersoll & Moran late yesterday afternoon filed in the town clerks office @ mortgage
 and trust deed given by the New Haven
 Union company to William Nelson Crom-
 we'll of the city of New York, as trustee,
 to secure an issue of $15, ,000 of first mort
 gage 6 per cent. ten-year bonds, made up
 of thirty bonds of $500 each. MT. Moran
 was found at his office last evening by a
 JOURNAL AND COURIER reporter and made
 the following statement:
 About two years ago the New Haven
 Union was in serious financial straits. MT. Troup was unable to obtain fnan-
 cial assistance here and Henry Alloway of the New York Times, and one of the pro-
 prietors of the Journal of Commerce of
 New York city, volunteered the cap on substantial financial footing. MT. Allaway was prompted to this by the fact that he was the personal friend of Alexander Troup and was un-
 willing to see so valuable property sacri- feed. He has simply stood by friend,
 and MT. Troup has never abated or been asked to abate one jot of the Unions polit-
 ical principles. It was agreed at the time
 that upon the reorganization of the Union
 bonds would be issued by the New Haven Union company to secure the funds ad- vanced. The reorganization having been duly effected we have issued and disposed of the bonds as agreed.
 "Mr. Cromwell, who as trustee, repre- sents the bondholders, is the personal friend of MT. Alloway, and is the lawyer who some time ago received the famous fee of$26O, ,000 for the settlement of the af- fairs of Decker, Howell & Co.,, the New York bankers. The Union is now in good financial condition and it's prospects are excellent
 Mr. Moran, when asked as to the truth of the published rumors of the change of ownership in the Palladium and possible consolidation with the Union, said: 'I have no objection to telling you that Henry Alloway of New York has pur- chased the controlling interest in the Palladium owned by Judge Lynde Har- negotiation for many months, to my per- | sonal knowledge dating back to the early spring of the present year. In fact MT. Ala way has held for several months an option on MT. Harrison's stock. MT. Allo- way intends to give his personal attention to the management of the paper. He will not take active control of the paper prior to October 1, and when he does he will make the proper announcements to the public. As his counsel, I am in position to say that it is his intention to run 0 thorough, out-and-out republican paper in every sense of the word. 0
 GAS tO 4ha rapOrt of O consolidation of the Palladium and Union, there is not a | word of truth to such talk. MT. Alloway has never sought to own or control either directly or indirectly the New Haven Union. His friendship for MT. Troup in | duced him to make the company a loan of 5000, and he has the interest of cred I itor or bondholder.
 "I understand that the management of | the Palladium, it's press being in poor con- | dition, has for some time considered the | advisability of having the merely nechan- | ical work of the paper done outside of it's l own office, and to that end some time ago l requested figures from the management of l both the Register and the Union for the performance of the work. The NewHaven Union company has as yet made no agree I ment to undertake the work, but it is ex- l amining into the matter, and if it can get l a price satisfactory to it's directors, will ! glauly unuerCaKe the WOrK as matter 1 of good business. A contract of this kind would not in any way affect 1 either of the papers, the editorial and bus
 mess arrangements being entirely sepa-
 rate and distinct. The Union would only I take the contract to do certain mechani- I cal work which it's exceptionally fine ! equipment will enable it to do without | difficulty.
 "I might add that MT. Alloway and Dr. Frank H. Whittemore have been elected l directors of the Palladium company and
 that MT. Alloway has also been elected | vice president of the companYn