The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1901-03-27

directors Of the Accounting Trust com
+ O. PoDenoe. president. Topeka.
G L Holman, treasurer. Topeka.
VI r. Barrett. secretary, Topeka,
Kansas.
E Wilder. Topeka. Kansas.
F. G. Willard, Topeka, Kansas.
ID. B. King, Plymouth, Ohio
Occasionally there was a transaction
which filtered through to the public
which would not bear the close scrutiny
OF business men but the people at large
did not dream that the Institution and
its head did not stand on the most secure
foundation
BUILDS A COUNTRY RESIDENCE
Two years ago Mr.. Popenoe secured
the old J. X Hudson homestead of ten
acres in Highland Park. His father-in-
law and benefactor had passed away
and left the Popenoe family a large sum
of money. estimated at $4,000. Mr..
POpenOe was now regarded as a man of
independent wealth by many though oc-
casionally veteran in the business
world would hint that things were not in
as good shape as the public supposed
The Hudson home was torn down ana
Mr.. Popenoe began on its site the erec-
tiOn of a magnificent country home. TX
pense was not considered in the erection
in mahogany. rosewood and other costly
and rare woods. and when il was COM
pleted the home was an ideal one. The
rooms were nIed with costly furniture
and nothing was overlooked that would
add to the comfort OF those who were to
occupy it. A corps Of servants consist
ing Of cook, butler and walters was in
stalled Mr. Popenoe settled down with
his family to enjoy the comforts Of life.
He was an officer Of the State Temper
ance Union and gave freely to the cause
Of the association.
Ambition was now firmly rooted in the
mind OF the young man. He had an ex-
cellent family, a beautiful home and ap-
parently everything the heart of man
could desire but still he was not salts
fed
BUYS a NEWSPAPER
Mr.. Popenoe desired to enter a new
domain He wished TO shine in public
life and the Topeka morning paper which
was then laboring under a load of debt
offered him the opportunity. He sought
and he bought the Daily Capital He
did not invest much money-it was not
necessary and he gave his notes for the
balance or the purchase price which
amounted to upwards Of $50, 900. He paid
only $1,000 at the outset.
This was one OF the great mistakes in
the career Of Mr.. PopenOe. He was en-
tirely ignorant Of the details ofthe news
paper business. He did not understand
what the reading public wanted and must
have He did not understand how to
handle his advertising patronage.
Then came the Sheldon edition. with
its phenomenal notoriety and circula-
tiOn. The name Of the Popenoe paper
was heralded from one end of the coun-
try TO the other. The circulation jumped
to 100000, then e. 100000, and din not
stop at that. Mr- Popenoe may not
have known that the people who sub
scribed for the paper did not care for
the Daily Capital, but they wanted to
familiarize themselves with the plans
of well known minister OF the gospel
who said he would show how an ideal
paper should be conducted.
Mr. PopenOe thought that he would
continue to conduct the paper along the
same lines as were laid down by Rev
Mr.. Sheldon. and would thereby hold a
large proportion of the subscribers. J.
K Hudson was editor Of the paper. He
had been engaged by Mr. Popenoe at a
salary Of 5000 per year General Hud-
son now came to the front and said that
as long as ne was connected with the
paper Mr.. POpenoe'S plans would not be
followed. The quarrel which ensued ex-
tended over a period Of several weeks
and was ended by the retirement Of Cen
era1 Hudson and his s0n-in-law. Dell
kelzer. from the management of the
Capital Mr. keizer was business man
ager and owned stock in the paper for
which Mr. Popenoe paid him $4,000.
GIVES PERSONAL ATTENTION TO
HIS PAPER.
Then MT. Popenoe assumed direct con
troll Of the paper. Much foreign adver-
tising had been lost because Of the Shell
don edition, nearly all the foreign adver-
tisers having been denied the use of the
Sheldon edition Mr. Popenoe set about
to win back what had been lost. He had
by this time given up the idea of con-
tinuing the paper on the Sheldon plan
for the subscribers for that week had
all dropped out. but Mr. Popenoe had a
definite plan TO make the paper one OF
the greatest in the west
Mr. Popenoe bought the paper last
May. and on August I he assumed per
sonal charge. The profits Of the Sheldon
edition, which were more than $50 coo
were available. and the young f1nancier
saw a bright future ahead in his news
paper career He accordingly opened
wide the throttle Expensive men We're
imported to boom the advertising and
help in the editorial department. Sal
aries were raised all around, and the
work OF invading the newspaper field
was commepced in earnest The local
advertising rates had been increased be
fore Mr.. POpenOe became owner Of the
paper. but as the advertising did not
come in as rapidly as he wished he re-
duced the rates below the old ones.
adopting a policy to secure advertising
at any cost The Sunday paper was en-
larged from 16 pages 10 50 and even 40
pages. and the issues were distributed
free. scattered broadcast over the city
and the state The young manage evi-
proceedings and policies were, but he
soon learned.
HE BUYS a BANK
About this time Mr.. Popenoe planned
another coup. He opened negotiations |