Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-07-13
WRECKED NEWSPAPERS.


5cessful newspaper, which, thru effort
and evolution. has reached a point Of
safe financial standing took occasion a.
few days ago to review the history of.
newspaper effort in the Ottumwa field.
1t is sorry story of loss and failure
and one that has Its lessons from a bust
ness poin, Of view. The same conditions
that are required to make other bust
ness successful are needed in newspa-
per etfort--a good field and good man
aseaent. The 0ttumwa aeld has been
overworked and certain newspapers
lunderalanaged ard the result is failure.
The Courier says:
During the past FIVE years not less
than $4,000 in cold hard cash mas been
lost in daily new pa per ventures in this
city. The record of failures in their
order is as follows
Daily Sun. loss .................. S !, 900
Daily Republican, loss ......t...... 1900
Daily Democrat, loss ...3..3...... 1900
Daily Press. loss ......5.s.......3,. 10000
Z 4 i'sa
Total loss Observation-Disclosures. $4,000
We are confident the above statement
is beioW rather than apovs the exact
amount In the case of the sun and the
Republican the cause Of the failure was
the same he attempt To occupy a field
already fully supplied with news;,a pers
sustain any more The failure Of the
H. 8.
bination of8causes, prominent among
which was trouble with the labor
unions and a board of directors who
pulled i cross purposes and thus de-
Istrcyed instead of building up the
property. OF the above, the only case
Where the creditors We're paid in full
was by the proprietors of he sun who.
We are Informed. paid all outstanding
obligations. But the money invested in
the property was an entire loss.
The failure Of the ottumwa Press,
1.-THE most recent and the worst of the
lslot presents a sorrowful wreck of a
lsonce paying newspaper property We
iiare Informed by Assignee Vail that the
Outstanding indebtedness on the plant
proper exceeds 10000. In addition to
i.this there WAS a $1,000 mortgage on the
4 Hoe perfecting press and a $1,000 mort
gage on the building The Hoe COM
{pany has already bid in the press in
i satisfaction Of its mortgage and the
press has been taken down and
4 shipped TO New York city. The build
ling will undoubtedly go to satisfy the
/ mortgage, which is held by a Mrs
walker. living in New York state. The
I equity in the building at any rate does
4 not belong to the Press Publishing
tCompany. In addition to the above
liabilities. the assignee was compelled
\ to8incur an indebtedness of about s1,OOt
in order to keep the plant running unit
lit could be sold by order of the court
This constitutes preferred claim anc
the total receipts from the sale of the
property will not be enough TO meet the
/ assignee's Indebtedness. The type cast.
i ling machines were rented and the own.
/ ers have taken possession of the same
1t will thus be seen that the creditors
i of the Press Publishing Company. out.
{. side of the Hoe company. will receive
absolutely nothing on their claims
/ This company was incorporated with {
capital Of $4,000 about a year and {
half ago. At that time Riley &, Jones
4 the proprietors, put IN the plant at FL,
4 900, which was generally considered {
A fair valuation. and $4,000 Of additiona
stock was sold to other parties fo
cash. This money was undoubtedl,
used in the business in addition to tn,
4 Indebtedness Incurred, as above noted
4 1t will thus be seen that the total los
i aggregates fully 100000. Messrs. Rifle.
4 & Jones lost all they had and all Others
who touched the property have SUM
!! all they put into it. In view Of TIL.
recognized probity of all concerned
and the great efforts that We're made t,
make the business succeed, It Is mat
ter Of unusual interest to the publl
4 generally to know what could hav,
brought about such complete wrecl
and disaster.
The Courier declares that the failure