The times. [volume] (Richmond, Va.) 1890-1903, 1897-10-21

It VIII Pass Out of the Dana Familys
Control.

tohtfol'
The future of the Sun will be watched
with great interest by newspaper men
all over the world and 10y the public In
general The course rat il will pursue
the innuence il Will have. the position
that it will maintain are largely matters
OF conjecture. even % those who are
most intimately connected with the paper.
as Is also the matter OF choosing success
sor for the late master.
one thing. however. can be said with
certainty-the sun will not be Mr. Da-
mas monument. That fond illusion Of the
great editor will be shattered. and he
probably knew months ago that II must
be So There was "A time when Mr. Dapa
believed that his personality would per
wade the columns OF his paper long AFTER
his body had crumbled to dust. but the
best that he could do was 20 keep firm
control OF the helm 10 the last moment.
II was following his instructions that his
death was announced without usual ohit-
uary notice.
For at least six months 10 has been
known that Mr. Dana was approaching
his end. and. anticipating that event. Cos
SIP has been rife concerning the control
Of the Sun II is known that the paper
will Immediately pass from the control OF
the Dana family
Thomas Hitchcock (Matthew MARSHALL
is the heaviest individual stakeholder.
though he lacks many shares Of a con-
trolling interest
Al one time Mr.. Dana had absolute
control OF the sun. either owning out
right or having an option upon ma
ioritv Of the stock That was previous
TO 1884. I'm which year he made what Us
called the greatest mistake Of his Ire.
bolting the nomination Of Grover Cleve-
land for the presidency and swinging the
sun 10 the support Of General Benjamin
Butler. Before that disastrous move the
sun was a power I'm Democratic pollucs
i'm this State. and was earning large dlNl-
dends During the campaign OF last ana
the four wears that followed the Demo-
cratic clientele WAS alienated from the
sun. and lat dividends were turned INTO
deficits.
Mr. Dana who was never Of a practical
turn. continued his worship OF art and
literature. spending great sums TO sratiy
his tastes. The result was that ne was
shortly a heavy borrower. with his STOCK
posted a. collateral. When u became APP
parent that there was possibility OF ms
| losing control % the stock. he obtained
by menas OF his options and holdings. a
ne contract with the Sun. by which ne
secured 70 himself the editorship OF the
paper al an annual salary Of 5000
There came a resumption OF prosperity
for the sun. but not enough money was
made TO counterbalance the demands
made by the United Press. OF which or
ganizatfon Mr.. Dana and william NJ
Laffan were the ruling spirits, and whicn
lost vast sums IN It's disastrous 60 ltsetl
warfare against the Associated Press.
So while Mr. Dana did not lose the title
10 his holdings Of sun stock. ne was never
able 10 redeem them.
Only 100 shares OF stock were issued BY
the sun Publishing Company. These each
have a nominal face value OF flVo, but
OF course. have been and are worth many
times that amount
Thomas Hitchcock. who is a we'll
known banker Of this city. holds twenty
shares OF the stock. lis FIRST connection
with the sun was almost colncident with
that OF Mr.. Dana. the two having for
many years been the closest ~ friends.
Mr. Hitchcock has had leaning toward
Journalism and has. over the Signature
Of Matthew Marshall" written con
corning the market and Investments.
Matthew Marshall IN the sun OF Mon
day mornings has long been distinctive
feature OF the paper.
Should he desire. he certainly could I'm
medlafely assume control OF the sun. and
no other man Is so well equipped to fol-
low along the lines laid down by his
friend. Put Mr. Hitchcock Is an old man.
aud has declared that under no considera-
ton viii he assume the responsibilities
Of the editorshin Of the paper
Undoubtedly Mr. Dana's son. Paul. Will
make an effort 20 retain control OF the
rapsr. That he will succeed, few believe.