New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-07-22
1.-THE TIMES" TO BE SOLD.
FORMAL OUTCOME OF THE REoRGANIzA-
TION PLAN.
THE SALE TO BE MADE ON AUGUST i3-CHARLEs
r. MILLER TO REMAIN EDITOR AND
ADoLPH s. ocHs. OF THE CHATTA-
NOOGA TIMES" TO BE BUsI-

NESS MANAGER.
| Justice Slower In Special Term OF the Supreme
Court. Part II. has granted the application OF Al
| fred Ely. as receiver of The New-York Times
| Publishing Company. for order for the sale at
public auction of the plant and franchises OF THE
Times before September /. The purchaser
Is required to pay 10 per cent down, 10000 within
five days and the remainder within three months.
1t was learned at the Office Of THE Times yes
terday that the sale is the natural and formal out
come OF reorganization of the paper which has
recently been effected. 1t stated that there
would be no change In the editorial policy OF the
paper Charles r. Miller will remain the Editor
The business department will be under the control
of Adolph s. Ochs. publisher and proprietor Of
THE Chattanooga Times. which is sound-money
| Democratic paper and is opposed to Bryan and the
Chicago PLATFORM
The reorganiza ton plan. 1t was learned at THE
Times" Office provides that the new company shall
issue $4,000 in gold bonds and OF these $275oO are
TO be assigned creditors In payment Of their
claims The remainder will be sold to provide
working capital Stock TO the amount Of 100000
Will be issued. and OF this 1916 900 will go bonus
to the purchasers Of bonds. while $4,000 will be
distributed among the present stockholders at the
rate of one share Of the new for five Of the old.
There will be $3.50 shares of the new stock placed
in for Mr.. Ochs who is to receive his living
expenses only until he shall have placed the paper
on paying basis
The following extracts from an editoria, In THE
Chattanooga Times of Sunday last show the
attitude Of Mr.. Ochs toward the present money
issue and the Chicago platform and ticket:
After all we have quoted Oh this page from lead
Ing Democratic journals of the country. supple
mentary to reasons given why we cannot advocate
the election Of the Chicago ticket or support the
Chicago platform. can find little to say further.
The abest and most trusted leaders OF 1892. when
swept the country, opposed 10 the platform
and ticket eNot IA recognized Democratic
paper of great influence and wide crcuat ton in the
once great Democratic group New-lork, Con-
nectlcut and New-Jerscy. supports the nominee or
papers In the whole Of the South are at heart for
the ticket. and the greater part OF those papers
newspapers have not bolted the whole business
they have been made Indifferent or they arc
damning the platform. thus slyly knitting Bryan
and Sewa. The nomination and platform have
are being made to repair damages by boltng the
Populis frecsilver and other stray factions TO the
hulk of the battered ship launched on Friday.
July 10
Here reasons enough to Justify any conserva-
tive In pausing until he might find out what all the
coll signned; but the real reason Is the cmbodi-
the exclusion of Democracy and patriotism We
found no occasion to pause: we had abundant
to refuse TO touch the uncean dangerous thing. o.
have aught TO ID for or with any candidate who
could stand thereon.
We may as well be frank with the people If
the peace Of our country and the safety of her in
stitutions. We firmly believe that his success
might develop into civil war we know his success
would for time literally ruin domestic and
foreign commerce. leave the country's business
PROSTATE. IN n condition of collapse. to recover
from which years OF labor and frugal saving would
be required.
While the formal order states that the sale shall
take place ION before September l." 1t viii. be
made on August l3