The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-05-13
MR.. ]. Fl. HOLIDAY RETIRES
His Interest in the Afternoon News Sold
Capitalists from New York.
William Henry Smith. Of the Associated Press.
to Control the Paper-Understood to Be
Purchased for His Son, Delavan.

This morning Mr. Chas. R. Williams. late
assistant manager of the Associated Press
in New York. will assume editorial charge
of the indianapolis News Mr.. John II.
Holiday will retire from the business. his
interest in the newspaper. q controlling
one, having been purchased by William
Henry Smith. general manager OF the AS
ISOLATED Press, and his son-in-law. MIR.
Charles II. Williams. Francis L. Holiday,
William A. Holiday and Maj. w. }. Rich
ards still their interests, and the latter gen.
tleman will continue to be the publisher OF
tho paper.
1t is generally understood that Mr..
Smith has purchased the News for his son
Delavan Smith. who Is at present day
manager of tho Associated Press at Chi
cago. For the past SIX or seven years Mr..
Smith has canvassed the entire country In
an effort to secure good newspaper prop
erty for his son and at one time he had .
six months option on tho Washington
Post. Ii is now thou ght that young Smith
will shortly come 20 this city and take
charge of the News by becoming managing
editor.
concerning the price paid for the paper by
Mr.. Smith, and the one that Is thought TO
most nearly hit the truth 10 that 1t was
bought on the basis of a total valuation or
100000; that Mr.. Smith paid Mr.. Holiday
5000. 0C0 for his twO-thirds interest; that
Major Richards increased his interest from
S25 eco to S3OO00 and that Mr.. Holidays
brothers each retain o $4,000 interest in
the plant.
The sale of the News was an important
transfer. and its annOunoementw was great
surprise to any number of people. In Dem
ocratic circles the sale by biz. Holiday OF
his controlling interest has created consid-
era BILE CONSERVATION. Politicians are Won
dering what the future policy OF the paper
will be.
Mr.. John H. Holiday, the founder of the
News. has this 20 say concerning his re-
tirement from the paper:
Il am going out of the newspaper bust
ness on account of my health. / have had
twenty-six years of q sedentary life. &C
cOmpanied by many cares. and under the
unceasing strain my health has broken, as
many of my friends know. Now ! am
warned by my doctor that this continued
would inevitably lead to q breakdown.
| MY health has come to such o stage at last
that l am forced to act, and prefer to re.
tire altogether-to cut loose entirely and
free myself; An opportunity offered
myself .of 1t. The negotiations
| for this sale have been going on for some
| time. l have had Overtures TO sell at diff
ferent times. but did not entertain any OF
|
were opened, 1 havo taken care to dispose
| of the paper to people in whom have con-
fdence. and who will maintain it's tone and
| integrity. They will conduct the paper on
the same basis as heretofore. 1t will con-
tinue to be an independent paper"
| Are you. then, entirely OutF
Absolutely. i have neither part, lot nor
interest now"
| Mr. c. r. Williams who will for while,
| Mt least. be the editor of the News, was
| found at the Bates House last evening by
| q Journal reporter. In answer to Ques-
| ton Mr.. Williams said:
| Politically and otherwise the general
policy heretofore pursued by the News will
be maintained. 1t will be independent in
| the sense that it will not be tied TO the
| coat-tails of any party. Yet 1t will not
be neutral. 1t will have convictions and
will not fail to express them"
| Considerable interest is being mani
tested by politicians as to the future policy
| of the News on the tariff issue. What can
you say on that subjectp asked the re-
| porter.
When the campaign fully opens up and
| both parties have selected their nominees.
/ have 10 doubt the News will have prefer
| ences for certain candidates and will sup
port them. IL will not. however. be bit
terly partisan. do not care to say now
what tho policy of the News on the tariff
| The Indianapolis News was founded in
| December, 1869. by Mr.. Holiday, q new
departure In Journalism In the West. Before
that such thing as two-cent paper west
! OF the Alleghenies was not known.
| The paper prOspered under Mr.. Holiday q
skillful and business-like management.
| was enlarged and improved from time to
time. and Is to-day very valuable news.
paper property. Mr.. HOLIDAYS individn.
ality permeated the paper always and il
acquired great amount of influence. be-
| cause, whether right or wrong in his ad.
yocacy of principles. people generally be-
lieyed in the thorough honesty of his con-
| vIctions.
The now owner of the News, MIR. William
Henry Smith. Is known ell over the coun-
| try on account of his connection with
| the Associated Press. He was born in
| New York in 1888, and was educated in
| Ohio. His hrst newspaper work was done
| In Cincinnati, where he was first assistant
editor and then editor Of q weekly paper.
ut the same time doing work for the Liter.
sry Review. At that time ho was but
was on the editorial staff of the Cincinnati
Gazette. In 1854 he was Secretary of State
of Ohio kfterward he established the
| Evening Chronicle. at Cincinnati but on
active business. In 1870 he took charge oil
the Western Associated Press at Chi
cago. He was by President Hayes.
appointed collector of the port of Chi
cage. In 1883 Mr.. Smith succeeded in effect.
ing consolidation of the New York Asso
ciated Press and the Western Associated
Press and became general manager. He il
| deeply interested in historical subjects and
has under way q political history of the
United States and life of Henry Clay.
MIR. Charles X. Williams, the new editor
is man of considerable literary attain
| ment. He was born IN New York in 1S5;
| and graduated from Princeton at the head
of his class in 1875. Two years were ther
spent abroad In study. In 1883 Mr. Will
Jams joined the editorial staff of the
| New York World, but soon left to enter the
| service of the Associated Press. Since les,
he has been in charge of the New Yorl
Office In the capacity of assistant genera
| manager.
From Mr.. Williams n Journal reporter
cleaned that there will be no change in the
working force of the News.
| .x-n .,an,nrv