The Providence news. (Providence [R.I.]) 1891-1906, 1893-08-08
IeI England Newspapers Are Its
Objective Point.
NOT A MATTER OF POLITICS
Hut Purcly . Business Venture . 10.
900, 200 the Purchase Price-Great
Econemies to Be Made In Running Ex-
psnses Under One Management.

project Is under serious consideration by
number OF capitalists Of New York,
Philadelphia and Chicago to secure
control and to manage number
Of properties In the New England
states that are very valuable and
profitable. but which under such con-
solidation an the one proposed will prove
even more remunerative and influential
by the reduction of the-expense In operat-
ing and by the purchase of supplies in
quantities 50 large as to demand great re-
ductions In the price OF material used.
The consolidation OF the oil interests in
this country under the management Of
the Standard Oil company, is acknowl-
edged to be one or the biggest bits of
hnanciering ever accomplished, and yet no
extortinate charges have ever resulted.
The sugar trust, the rubber trust, the
meat combine. and the scores Of other
combinations OF capital to control the ex-
elusive outputs of certain classes OF COM
modities during the past few years have
shown the tendency of capital to combine
and secure control OF business enterprises
of kindred nature. Hundreds OF thou
sands OF dollars Of American, English and
German investors have invested in
these so-called trusts, and the various en-
terprises have attracted much public at
tention here and abroad. There has
hardly been line of business that has
not fallen TO the tender mercies Of
this kind Of consolidated capital.
This Time Newspapers.
But singularly enough one Of the most
prosperous, most remunerative and infiu-
cntial businesses In the country has up to
the present time escaped the eagle eye of
the anxious investor,-tne newspaper
business. For years it has been recog-
nixed that good paying newspaper is
ono Of the, most solid aud stable invest
ments that money can be put into, and
the majority Of the newspapers Of the
country. too large to be the personal prop
erty OF single owners, hsve been mana god
by stock companies.
This consolidation of newspapers under
one management Is not particularly
new ides. 1t has been very successful on
q smaller scale in the West where the
Scripps League Is widely known as big
syndicate. managing a dozen valuable
newspaper plants.
Tho Dream OF the Elder Bennett.
It was one of the dreams of the elder
Bennett which n number OF years ago
came near to realization. The New York
Herald, The Times, the Chicago Times.
ST. Louis Post Despatch, and the Boston
Herald at one time came very near being
controlled by syndicate with the elder
Bennett at its head, but disagreements
arose and the negotiations came to
naught.
The enormous earnings OF big papers
like the New. York Herald. Sun and
World, the Boston Herald and Globe are
the natural results Of serious and inde-
fatigable efforts extending over a series
of years. 1t is popularity reported that
the income of James Goi don Bennett OF
the New York Herald from his paper is
$750,000 per annum. The w orld closely
follows this with over half million.
while the Sun probably makes half that
amount. The Boston Herald is supposed
to divide 100000 a year between the own
ers while The Globe pays at least 10 per
cent. net on $4,000, 900. The Providence
Journal has probably paid at least 100000
year for number OF years.
They arc Gilt Edged Properties.
No wonder then that these gilt-edged
properties have at last attracted the at
tention OF investors.
The proposed combine. however, deals
with New England newspapers, aud even
this Is deal OF immense magnitude.
The capitalists alluded to propose to
purchase the leading daily papers in New
England, managing them Of course as
individual papers and preserving their
separate autonomies. yet controlling
them by directorate to whom the agent
or manager in charge Of each paper shall
report directly. 1t is estimated that $l0,-
000, 900 in capital will be required.
Tho Maine Papers.
In Maine the papers under considera
tion are the Bangor Whig aud Courier,
Bangor Commercial and Bangor News,
Kennebec Journal, Lewiston Journal,
Lewiston Sun, Portland Press and Argus,
Advertiser aud Express. Bath Times,
BiddefOkd Journal, Times and Standard.
It II estimated that $450,000 will pur.
chase these properties and the net income
would pay about IS per cent. In New
Hampshire the Concord Monitor, People
and Patriot. Dover Star, Foster Democrat
and Republican, Keene Sentinel, Man
chester Mirror and American. Press and
The Union. Nashua Gazette aud Tele-
graph. Portsmouth Chronicle. Post aud
Times. 1t would take less than half n
million to purchase there properties and
they would pay very handsome profit.
In Msssachusetts and Vermont
In Massachusetts, the Herald. Globe,
Journal, Record, Advertiser, Transcript,
Post, Traveller and Telegram of Boston,
the Springfield. Worcester. Haverhill,
Lawrence. Lowell. Fitchburg and other
dailies would require an immense expen.
diture, but the profits would be proper
tionately as large. It Is known that less
than six million dollars would be ample
60 purchase them. Vermont has but
three dailies, the Burlington Free Press.
Rutland Herald aud st. Albans Messen-
ger. and 100000 would be more than
enough to pay for them.
In Our Own state.
In Rhode Island the Providence Journ.
nj, Telegram and News. the Newport News.
Pawtuckst Times. Wtonsocket Call and
Reporter could be purchased for a million
dollara II IL estimated that these prop
critics are now paying at least IS per
ccnt on this figure. The Connecticut
a. a