Savannah morning news. [volume] (Savannah) 1868-1887, 1885-10-29

I
sheet aud sold his interest to his brother
! Lewis, philanthropic dry goods mer-
| chant, to David Hale and Horace Bush
nell, afterwards conspicuous as a theol0-
gisn. Hale and Gerard Hallock, both
Bostonians, were subsequently its own
ers and long continued such. They were
/ very enterprising, too, in gathering news.
spending much money to that end. They
gained handsome income there and
were we'll satisfied with their profits. 1t
I has now become altogether commercial
and is seldom seen outside OF big banks
and the counting rooms Of wholesale
houses. 1t has ceased to be. In wide i'm
port, newspaper, but it is decidedly re-
/ munerative. William &. Prime laid the
basis OF his fortune there ana David N.
Stone, It's present controller, has been
made rich by it. 1t has been for years a
class journal and Is extremely conserv-
! alive. AS one of the stockholders says,
its dividends are regular and entirely sat
isfsctOry.
The San was q cheap sheet in more
/ senses than one when the Beaches, father
and son, controlled it. 1t was q kind of
organ of the manual laborers and was in
the habit Of cosseting some of their I'M
worthy prejudices, the owners finding this
! to their advantage. When Charles A.
I Daua and his associates bought il, seven
teen years ago, chiefly for the Associated
Press franchise, they wholly changed its
character. At first the new Sun moved
/ slowly, though steadily. Then Dana,
waxing impatient, made il sensational
and severely personal, increasing it's rev.
enuos and the number OF his enemies SIM
| ultane0usly. AT the time OF purchasing
the paper his entire property was not
valued, | am told, at more than $4,000 to
100000. Since then, from salary as edi-
tor, dividends on stock, percentage on
op1a bs,S n IN hat~ ArRTr nod
an income of $4,000 to $4,000. He has
managed, it is said, his journalistic posi-
ton with exceeding shrewdness for HIS
own interest. His pecuniary reward has
been much greater than that or most New
York journalists.
OF the immense prosperity Ofthe Herald
everybody is aware. 1t is due 0lmosJ en-
tirely to the late James Gordon Bennett,
who issued the initial number from the
basement Of 20 Wall street, with a capt.
tai OF $500, backed by an original, crea-
tive brain. He was 40 years old then and
had made divers journalistic experiences,
in Charleston, S. c.. in Philadelphia, and
here, without revealing any signs Of his
undeniable newspaper genius. But at
last he had discovered the proper place TO
TX his lever and he really moved the jour
nalistie world. Ia twenty years he built
up vast fortune and at his death, at rs,
left property valued at several millions.
His son has doub led II and demonstrated
remarkable capacity as a manager,
though he was thought during his faith
er's life not to be above medlocrity. He
could not, probably, have reared much Of
q structure without his fathers foun-
dation, but to continue a definite plan de-
mands brains, energy and vigilance. Elk
| aggerated stories are always afiOat touch
ing the profits of the Herald, but they
/ cannot fall short, on an average, OF at
least $500, 900 year. 1t is queerly con-
, Quoted in many respects and always has
! been. Very close in little things, It is
very profuse in big things, especially
those that make a show. AS much as
: $l50, 600 to 5000, 600 is wasted annually by
. lack of consistent administration. 1t is
nothing unless spasmOdic; il it were not
extremely rich it would be ruined. Nc
other daily here could indulge in such in
g congruities and positively
! imbecile at times-and sustain itself.
D The Tribune has not paid much from
o. the beginnin9-not more, suspect, thar
b, 5 to 4 per cent. per annum, counting Its
< forty-four years Of life. Horace Greeley
! was not desirOus-was hardly willing, II
/. fact-that his newspaper snOulu MAKE
D money, He wanted to use us earnings
t for its Improvement; but his fellow stock
3 holders were not, as may be supposed, OIL
Y his self-denving mind. DIVIDENDS were
) generally declared and his salary ad-
4.
= yanced AGAIN and again against his Will
= After his death William Orion, OIL the
= Western Union, bought hfty-one cut OF
e the 100 shares at $40, 900 each, resoid tneIn
T. and Whitelaw Reid became the controller
q OF the paper. He decided to pay fer the
l. new building from the earnings ara Tor
6 eleven wears there were no diyidenCs, the
S stock falling to 81, 500. When REID mar
t ried D. o. Mills daughter her tathF set
n fled. as the story goes, $1,O00,OOO q her.
J. Ont of this she generously gave he. nus
o band $4,000 to release his hypotncateu
s Tribune shares, and since then e has
/. been iournalisticany free. Nearlylll the
n stock is now held in the Reld-Allllsln ter
d est and again pays dividends. NJ one
= of the early shareholders have much
% money by his holding.
v PRoPRIEToRs GENERALLY
a George Jones, one OF the origial pro-
prietors of the Times, has, eWf since
e. Henry j. RaymOnd's death, bee lis IL
Ct nancial head and dictated its editorial
a. course. He has been thirty-fve'ears on
+ the paper and has gained hansone IN
- dependence through the connstion. IL
&c usually divides about Sl5O,OOOE hnuaIiy,
re which includes the rent OF tht Dulidlng'
as Tbe highest price ever paid tO5he shares
Is was sis. 900. which Jones gaveor a small
IN lot To nreveut Louis j. Jenngs from
re getting them. and then demared his ed
n itoriaI resignation. There arbut three
n or four stockholders. the jos interest
~ largely preponderatng.
40 The World, from It's inceion as
Is: cent religious sheet to its Fchase by
ed Joseph Pulitzer-a period OF enty-three
tn years-must have sunk $4,000. 1t
be adopted every kind of policy d had va
Cd rious managers, but II cou never be
no made remunerative. Evebay Gould
at failed to render it 80. PuliE has great
BE- ~ increased its circulation d adVertis-
M inc ard claims to be coininglcats.
me CYRUS w. Field publishes Ma1 ana
ny Er6ress principally for his glory and
ne the f,lrtherance Of his sches. Henry
ty- q. Marquand, Parks Godwilnd others
no. are pushing the Commerct Ad1erttser
as with some advantage to theexchequer.
Cd. Ben Wood has driven thNeleS with
ur- profit by catering to the low crime and
noisome sensation. II. p. hpers y Co.
oct large profits from the Cor des Flats
nm. inns and Oswald Ottendor from the
i'm. Stats Zeitung. The Grdphas sunk a
ro- large sum and has small prects Of re-
00. coyerv. Take the New Iorewspapers
nm. Ali In all. the labor expendep ana the
one capital invested In them na met Win
Die. an inadequate return.
'asV PICKED UP AT A.