The Irish standard., 1902-12-27

LOr, VINO guarded nlnlSell against
over-enthusiasm when he saw that
lie had made some progress. 'It will
require considerable capital. much
work, and good Judgment in the exc
cution of the plans; and more than
all, the most rigid secrecy must be
maintained You are the only man
to whom this subject has been
regard this matter as strictly conf
Dental in case you should decide to
do nothing in the way of it's advance
ment."
Mr.. Morton nodded his head and
| growlcd consent to this injunction.
which he evidently regarded as un-
necessary.
II would start this syndicate in a
chain of 30 cities, with two papers in
rapidly noted a list. "llere are the
! cities l have in mind: New York,
Brooklyn. Boston. Philadelphia, Bal
timore. Washington, Rochester, Buff
falo, Atlanta, New Orleans. Louis
Vile. Cincinnati, Pittsburg. Cleveland,
Detroit, indianapolis, Chicago. Mil
waukee, st. Paul or Minneapolis, st.
| Louis, Omaha, Galveston. Kansas
{ City, Denver, Helena, Seattle, Taco
! ma, Portland, San Francisco and Los
Angeles"
| Mr.. Hestor then entered into a de-
tailed and comprehensive explanation
Of the proposed newspaper trust. lie
submitted figures showing that GO pa
pers could be purchased for less than
! S115,OOO,OOO, and proved that these pa
pers were then earning $7500,o00 q
year, or more than five per cent. on
the required Investment. Hestor pro.
posed retrenchment in three impor-
| tant departments, viz: the Sunday
papers, the editorial staffs, and the
! abolition of the advertising agency.
Instead Of preparing 60 Sunday pa
pers. the syndicate would print four,
each of surprising excellence. These
! four papers would give all syndicate
! papers in contiguous territory Il dis
tnct Sunday paper. Each of these
four Sunday papers would have a
marked speciality, ana each would
strongly appeal to a certain class OF
readers. One would make Il special-
ty of amuscmcnts; another of litera-
ture; the third of fiction, and the
fourth of science aud art--but each
would be a complete magazine. Hes
tor showed that four such Sunday
magazines could afford to employ the
highest literary and artistic genius
of the world, and proved that no
competition with them would be pos
siblc. The saving would amount to
not less than $4,O0O,OOO a year, in the
single item of Sunday papers.
The editorial department would be
conducted on similar plan. Instead
of 400 editorial writers-,;ls at pres
ent-he would have staff of 20; &C.
knowledged authorities in their re-
chief would keep in toucn with the
owners of the syndicate, who would
thus be able to dictate the thought
Of the country in the leading repub.
lican and democratic papers.
''The reduced expenses of the edi-
torial department will be about $780,
O0O," said Mr.. Hestor. "You can place
your own estimate on the financial
benefits your syndicate will receive
from being able to inspire and regu.
late the thought of nation"
Hestor then explained how millions
could be saved by dealing direct with
advertisers without the Intervention
of the advertising agency, which he
characterized as the "most stupid
survival of the middle-man system
He explained that the agency levied
tribute on advertiser and newspaper
and that an enormous percentage was
absorbed by worthless parasite
Hestor said that a staff of ten mer
could do the work now performed by
several thousand.
"The expense of securing advertis
ing will be practically nothing con
cluded Hestor; "the average rate:
will be doubled, and we will receive
all of the enormous fund which nov
goes to the agencies. This will be o
; benefit to all concerned, except to thu
. useless and dccadent advertising mid
. dle-man. | would not dare place an.
. estimate on the added revenues from
this mucl,-necded reform. 1t certain
ly will far exceed any other item o.
saving
: "Nou make out strong case" sait
Mr.. Morton, after an interval. II
/ which both gentlemen said nothing
= "rhis is too important Il matter Il
r decide otT-hand. | should not care t.
S go into it without consulting will
some of my associates. What tinan
t cial interests have you in mind in thi
connecticut"
Q 81 propose to leave that matter on
r tirely in your hands, replied Nh
Hestor promptly. 81 do not l<noS
y that am on unfriendly terms will
v any of the men who are reported t.
s. be your associates in similar organ
l. izations. l stand ready to inves
F." $l0.000,OO0, provided a company is Fl
l. nanccd for total of $125,00O, 900 o
v Sl50,OOO,OOO. l have talked this mat
n ter over with Mr.. Van Horne. and yo
can count on his cooperation"
d "You have the proper confidence i
IS your plans." said Mr. Morton. II wi
4. discuss this project with some of III
s. associates. If find they deem
worthy of more careful examination
l. it might be we'll to arrange a confer
y ence and settle on some definite mod
le of procedure. Mind yon, | am nc
r, holding out any promises. If thcs
'e gentlemen evince IL decided interes
n ~, tbo ,n,ttnr I >,:il1 rommunira I