New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-12-17
THE SUN" CONFIRMS
STORY Of IT'S SALE
The Tribune'S Exclusive An
nounceInent Causes Much
Discussion.
RUMOR AS TO PRICE PAID
Speculation as to Future Policy
of the Paper-Mr. Reick's
Powerful Con-
nections.

The exclusive announcement I'm The
Tribune yesterday morning that Will
lam {. Reick had obtained control Of
The Sun" is confirmed by the following
statement in The Sun" this morning:
The controlling interest in the Sun
Printing and Publishing Association has
been purchased from the estate of Will
lam NJ. Lafan by William G. Reick who
will direct the property in the future as
president and publisher"
The New York Times" this morning
publishes the following editorial under
the caption Of THE Suns New owner: &:
Mr.. William {. Reck. who for the last
five years has been associated I'm the
management Of The Times has re-
signed, and having acquired from the
estate of William VI. Laffan the con
trolling ownership Of THE New York
Sun" morning and evening, will to-day
assume the management of that news
paper.
We sincerely regret the severance Of
the relations between Mr.. Rcick and
THE Times" He is a man Of high abil
ity, of unusual gifts and very wide
experience in journalism. He has been
recognized by members of the craft as
one of the best equipped newspaper
men in the country and he enjoys their
esteem and respect. lie Is. moreover.
a gentleman whose agreeable personal
qualities have made II q pleasure to be
associated with him. He carries with
him from THE Times" the cordial good
will Of all the members Of its STAFF. and
they are Of one mind in wishing him
full mea sure Of success in his new vent
ure.
The Tribunes announcement was fol-
lowed by the publication in all the lead
ing afternoon papers Of long articles on
the subject. In which the truth Of The
Tribune's statement was accepted,
although at that time the leading par
tics to the transaction refused TO give
any information on the subject
No positive information is yet
forthcoming as TO the terms Of the
sale or the future policy of The Sun
under Mr.. Reicks management. Speak
ing of the price probably paid, however,
'srhe New York Evening World" yester-
day said:
The purchase was made from Mrs. W
NJ. Laffan. widow Of the late owner Of
the property, and the price paid IS
said TO range between S2,O0O.OOo and
81, 100000 Formal announcement or tia
new ownership will be made tomorrow
The negotiations leading up 10 the
passing Of the control are said to have
been conducted by James M. Beck. OF
the Arm of Shearman & Sterling. known
i'm Wall Street as Standard oil attor-
news. Since the death Of Colonel FRANK
lin Bartlett Mr. Beck has been acting
as attorney for the various sun pub
lcations. r.
Owing 10 the fact that Mr.. Relck tor
the last FIVE years has occupied an I'M
nortant position on THE New YORK
Times" il led to the supposition that
there was an association between MIN
and the owners of The Times IN the
purchase Of ''The sun" properties. rms
was absolutely denied to-day by the
owners Of THE New York Times.
During the life of the late n. H. Ros-
ers MIR Reick was q close personal
friend of that member Of the Stahdard
OH group. He numbered among MS
friends such powerful financiers as
lanes Stillman. head OF the National
Citv Rank. and Clarence H. Mackay. tle
nultimillionaire Whether Mr.. sun
man and Mr. MaCkay are interested ~
tho purchase Of The sun properties
could not be learned.