New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-03-28
"THENEW-YORK TINES SOLD
A SYNDICATE SAID TO HAVE BOUGHT IT.
MEN WHO ARE MENTIONED AMONG THE NEW
owNERs-No CHANGE IN POLICY.


owNERs-No CHANGE IN POLICY.
Stories have been current for some time Of
the sale of The New-York Times 1t was re-
ported that the contract was drawn up and
agreed to yesterday afternoon for the sale Of
the paper to a syndicate. the chief spirit in which
! was Charles r. Flint. II said that associated
with Mr.. Flint was large number of propretors
with holdings in the stock Of a new company OF
from $4,000 TO $4,000. II was understood that
among the principal Stockholders were james
I. Woodward, president Of the Hanover National
Bank John A. Mccall, president of the New
York Life Insurance Company; Henry b. Hyde.
president Of the Equitable Life Assurance Society ;
Governor Flower, Jacob H. Schiff and II. Walter
Webb
The present Editor of The Times Charles r.
Miller, and the managing editor. George F. Spin
ncy. also interested as proprietors in the com
pany and are to be continued in their present
places. It was in their interest. indeed that
the new company has been formed, and it is under
stood that the paper will continue to support the
policies which have distinguished il for the last
eight years When 1t embarked upon those poll
cics it had circulation of about 10000 copies and
was said to bc earning an income Of more than
$500, 900 year. II j. believed that its circulation
and its income have fallen Of considerably These
are the considerations. IN fact, which have in
duced its owners to part with it.
Ii is significant that they sell, not the real
estate. but the newspaper only. There nave
been for many years two interests in the owner
ship Of The Times" known as the Jones in
tercst and the Morgan interest. Gilbert f. Jones
and his sister, Mrs. Dyer, represent the Jones or
controlling interest, which consists, it is said. Of
sixty shares. The Morgan interest is held by
Henry Morgan and Mrs Zabrisl0e, and amounts to
forty shares, the whole capitalization being one
hundred shares Mr. Morgan and Mr. Iabriskie
were in Ncw-York yesterday to assist in the dis
posal of the paper The real estate is retained by
the ,Joncs-Morgan interest and the paper with It's
franchise and plant passes into the hands OF the
syndicate. II is understood that the price agreed
upon is S0j0,00o.
THE Times has been for sale since last fall
and Mr. Miller and Mr.. Spinney have been en-
gagged the greater part of six months IN the
organization of the syndicate which has at last
bought the paper II is said that some part of
the purchase price has still to be raised, though
il il 20 small that the ncgotators felt satisfied TO
come 10 a definite conclusion. II was said that
MFR. Flint Mr. Woodward and Mr. Miller would
act As trustees for the new company, and that II
would continue TO advocate Free Trade and to
cern. The paper would continue to occupy It's
present quarters.
Mr. Flint was secn at his home No Fast
Thirty-sixths,.. by Tribune reporter last night.
He said that he had heard that his name was men
tionei in connection with the purchase OF " HE
Times bu, hc was not concerned in II. " l
feel a. Commodore Vanderbilt did about owning
n uew.paper,- he said. The Commodore declared
that There were 900 papers in this country, AMI
the man who owned one incurred the enmify OF
all the rest. No. owning newspaper N a long
way from my business
Gilbert T.. Jones was entertaining dinner parry
AZ his home, No as West Thirty-scventl-st., ana
would not see the reporter. Jacob ii. Schif WIS
seen al his home, No. 932 Fifth-ave lie knew
that efforts were being made 10 get up syndi-
cat" to buy The Times because he had Deen
asked 10 Join it He had promised 10 consider
the offer, but had given no answer lie, too'
understood that Mr.. Flint was at tile head OF the
project. , -,
n Walter Wcbb asked to he excused from
saving ANYTHING about the subject. IL was said
Al Mr. Iiydcs home, No. Is West ihirty-seventh,
st. that he was ont of town. Mr. Woodward
is AZ his country home in Maryland. Mr. McCall
said that he was not concerned directly or IN
directly i'm any plan 10 buy the paper, ard knew
nothing about any effort in that direction: IL
seems likely according 20 well-known citlzen,
that Richard \. McCurdy. president oi the Mutual
Life Insurance Company, instead OF Mr. Mccall IL
in the syndicate. Mr.. McCurdy lives out OF the
city. and could not bc seen last night. -, ms
citizen said he had also heard that Mr. Wood
ward was concerned in the enterprise, ana that
the man vino carrying on the negotiations
was f.. NJ. Shepard. Of the law hrm ol Parsons
Shepard x Ogden. No. IL Broadway