The Washington times., 1901-11-28
SALE OF THE NEW YORK NEWS.
Paper Becomes the Property of Mr..
Frank A. Nunsey.
CFrom the New York Hcrald.)

Orom the New York Hcrald)
Frank a. Munsey. whose name ia ia
miliar because of the magazines which
bear it. will hereafter be the publisher Of
! the New York Daily News" an afternoon
newspaper. He became the owner yester-
day of 100 of its 800 shares of stock. and
at once entered into possession.
| He purchases -;s stock, at what price
ne declines to say. from Mrs. Ida f. W.
Wood widow of Benjamin Wood; Miss
Mary E. Mayheld. her sister, and Miss
Emma Wood, her daughter. The rest OF
the stock is controlled by Col william L.
/ Brown, who was the manager Of the news
paper until Mr.. Woods death 1t is only
few days ago that Mr. Munsey acquired
The Times. of Washington, d. c.
! This will be Mr.. Nunsey's second ven
ture in New York Journalism. Nearly
eleven years ago he purchased the New
/ York STAR and for some time he con
dGcted it as the Daily Continent" Il
was he who introduced to this city what
has since become known as tabloid Jour
| nalism.' He reduced the size of his
pages and increased their number. but the
| innovation was not 4 success, and he sold
the paper
Il had not given much thought 70 the
purchase of The News" Mr. Munsey
sad last night when he was seen in his
room in Sherry's. until my recent return
from Europe Then / learned there were
some others who were considering the
adyisability of buying it, and that Mrs
Wood, who was i'll, wanted to sell II at
once Then opened negotiations
through c. VI. Palmer, through whom I
had acquired the Washington Times. and
today the keys were turned over to me-
and at once entered into possession.
''Of course. shall make many changes.
will have new methods. new machinery,
new men. and now l am looking for suit
able editors and writer's. II will not be
another venture in tabloid journalism.
however. for l believe the smaller pages
and an increase in their number only
make 1t harder for the reader to fnd
the news. while at the same time they are
not adaptable to the purposes OF the large
advertisers. AT the same time | believe
a newspaper should pay for itself ire
spective of its advertising just as our
magazines do.
Always in touch with the common peo-
pie. l shall endeavor to keep the News
on this plane. but, above all, it will be a
come. in my opinion, from the so-called
yellow journalism, although We have
learned much from the publishers OF that
variety OF newspapers. Then again. there
will be a unity of interest between the
News and the Washington paper, and
some articles viii be used in both They
will not be duplicates, however"
rs it your purpose TO become the pro-
prietor of other newspapers ,"
ITO be frank, l have given some
thought to that plan. II would tend more
to economy of production. of course. the
more newspapers one published. and this
is the age of economy. 1 consider that
today news is a commercial necessity,
just as is steel or -four and / am anx-
ious to be in the business of furnishing
this necessity. Heretofore in the maya
zines l nave been providing a luxury for
the masses"
Do you contemplate The purchase OF
any morning newspaper in this city?''
That l should do so is not an impossi-
bility, but 1 hardly have come to that as
yet"
viii you put into practice any radical
departure from the idea of newspapers as
accepted now?"
4 have no such plan"
Benjamin Wood died on February q of
last year, and his widow took charge of
the paper. and with her sister and her
daughter she comprised the board of di-
rectors. In April last Colonel Brown
who had been deposed as manager.
brought suit to compel them to meet and
declare a dividend on the profits for 1900.
He said the changes in the management
Of the newspaper had been much to its
detriment, anG that no dividends had been
declared after Mrs Wood took charge
Mr. Munsey said last night that he un-
derstood this suit had been dropped