"The Young Editor of the Tall Tower"
WITH Greeley gone the newspaper world wondered who was to be the new master of the Tribune. The total capitalization of the company was still the original one hundred shares, but they had been sold and resold in small lots so frequently that there was no certainty where a majority vote rested. So far as the future of the newspaper was concerned, however, the imperative problem was not who could secure stock control but who could bring the newspaper back to prosperity -- in a word, who could rebuild the Tribune on new foundations. It could not survive solely on Greeley traditions. A different Tribune must arise out of the past. There was but one man on the staff who qualified for such a task. That man was Whitelaw Reid. He had youth, ability, experience and friendships -- qualities which promptly commanded a confidence that secured for him voting control of the company.
On December 17 Reid made formal announcement that "a large majority of the stock is now concentrated in the hands of Mr. Greeley's chosen editorial associates, men whom he trained for this particular duty, whom he honored with his thoughts and his wishes, and whose purpose it now is to continue his work." Financially it was a hazardous undertaking. Thereafter success must rest wholly on the daily Tribune, which of itself had seldom paid its way. The "Weekly Try-bunell" always had been a heavy money-maker, but with Greeley gone and changing times a weekly would soon be as far out of its period of popularity as
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information: Book title: Horace Greeley:Printer, Editor, Crusader. Contributors: Henry Luther Stoddard - Author. Publisher: G.P. Putnam's Sons. Place of publication: New York. Publication year: 1946. Page number: 323.