Arizona silver belt., 1894-02-03
A NEWSPAPER TRUST.
A PROJECTED COMBINATION FOR
 NEW ENGLAND JOURNALS.

tFopOscu tOmbtne with a Capital Oi
 s1o,ooo.o 1000 About to Be Formed to Con.
 trol the Business Interests of the Leads
 Ing Papers of New England.
 Tho Providence News is informed by
 an authority that has always been con.
 sidered reliable that another big finan.
 cial project is under serious considera-
 ton by number of capitalists of New
 York, Philadelphia and Chicago to se-
 cure control and to manage number of
 properties in the New England states
 that are very valuable and profitable,
 but which under such consideration as
 the one proposed will prove even more
 remuneratiye and influential by the re.
 duction of tae expense in operating, and
 by the purchase of supplies in quantities 50 large as to demand great reductions in the price of material used.
 For Years it has been recognized that good paying newspaper is one of the most solid and stable investments that money can be put into, and the majority of the newspapers of the country, too large to be the personal property of sin gle owners, have been managed by stock companies.
 This consolidation of newspapers un- der one management is not particular ly new idea. It has been very successful on a smaller scale in the west, where the Scripps league is widely known as big syndicate, managing q dozen valuable newspaper plants.
 It was ono of the dreams of tho elder Bennett which a number of years ago came near to realization. The New York Heralda The Times, the Chicago Times, St. Louis Post-Dispatch and the Boston Herald at one time came very near being controlled by u syndicate, with the elder Bennett nt its head, but dlsagreements arose, and the negotiations came to naught
 The enormous earnings of big papers like the New York Herald, Sun and World, tho Boston Herald and Globe are the natural results of serious and inde- fatigable efforts extending over series of years. It is popularly reported that tAAN AtANRAli RA DhaiAF0 AAblnOfl lDEilIlELk tI the New York Herald from his paper is 0000 per annHn. The World closely follows this with over $500,O00, while The Sun probably makes half that amount. Tine Boston Herald is supposed to divide $301,e00 year between the owners, while The Globe pays at least 10 per cent net on a, 2,0OG, ,000.
 The proposed combine, however, deals with New EHgland newspapers, and even this is Q 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 autononies, yet controlling them by directorate, to whom the agent or manager in charge of each paper shall report directly. Ii is esti- mated that si0,G01 .o00 in capital will be required
 The plan is to purchase these proper ties by issuing bonds for $5, ,000, 600, pre- ferred stock of $j,0000OO and common stock of sj,000.000 tho bonds and the common stock to be sold for the pur- chase money, the bonds to carry au per cent guarantee, tho preferred stock to be ' per centstock, and The common to declare whatever dividend might be left over after an allowance for sink ing fund. At tine present cost of operat- ing the common stock conld declare a 10 per cent dividend and carry per cent Co the sinking fund
 The cost of operating would be great. ly reduced. Take for example the Bos- ton dailies or the two big Sunday issues. The Herald and Globe each run trains ont over tho roads leading from Boston l Sunday morning, seven trtins each. One l of them could be cut off and q joint train | run, saving at least so 600 per year. By | purchasing paper in such immense quan- titles the very lowest possible price could i be obtained, and very small fraction of | . per cent saved would in the aggregate amount to an enormous figure, and as with paper so with type, presses, ink aiit al other materials. In the matter of i distribution of papers iu Bostoif aicfie an enormous saving would be made.
 By the control of all the newspaper properties in New England by one con cern a new era in the collection of news would at onco follow. A system of leased lines, with operators in the em- ploy of the combine, would be inevitable. The New England Associated Press would either be merged in it or go to the wall, but this system of leased wires would bring a saving of such propor- tions as to be absolutely startling and which is at present impossible by any one paper. It is expected that expenses of operation would be reduced fully 25 per cent.
 The plan is not a political one and has no political significance. The combine is said to be evenly divided between both the great political parties; otherwise this absorption of such papers would give politicalinfuenee that would be SO power ful that it could not be tolerated. Agents Df the syndicate are now in New Eng land making inquiries and investigations. The successful management of the Stand lrd Oil company, of the big street car combines and other trusts seems likely .o be followed by newspaper trust Journalist.