The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-08-12
Record of the News and OBJ
server for Eight Years.
PROGRESS ON ALL LINES
The Paper Was Never so I ntrenched in
Popular Confidence.
ALL OLD OFFICERS WERE REFLECTED
The Presidents Report Forecasts the Future
Policy Of the States Most Widely
Circulated Daily

Paper.
The annual meeting of the stockhold-
ers of the News and Observer Publishing
Company was held in the office OF the
company yesterday afternoon at SIX
o'clock. Mr.. N. B. Broughton was
elected president and Mr.. II. w. jackson
secretary.
The reports of the officers, Wnien
showed a prosperous year, were read.
The stockholders expressed qualification
at the business of the paper during the
past year.
The following directors were elected
Messrs. c. M. Busbee, N. B. Broughton,
r. T. Gray. Cary ]. Hunter, A. W. Hay
wood, w N. Jones and H. w. Jackson.
THE PRESIDENTS REPORT.
The annual report of the President was
read. 1t is as follows:
Raleigh n. c., August II, 1902.
To the Stockholders of the News and
Observer Publishing Company:
Gentlemen: There has not been a time
in the history of the News and Observer
when it had so strong a hold upon the
people of the State as now. During the
past eight years its daily subscription
list has grown from 1880 to 7,100, and
it's cash receipts from advertising from
August 1, 1901, to August 1, 1902 was
$104491S more than the first year-Au-
gust, 1894 to August 1S95-that the paper
was published under its present manage
ment. In spite of the poorest crop sea-
son in recent history in the section where
the News and Observer chiefly circulates
its circulation has steadily grown. The
report of the book-keeper shows in de-
tail the financial condition OF the paper
During the past year the debt of the
paper-(originally $4,000 incurred in the
purchase of a perfecting press and three
Mergenthaler type-setting machines)-I
has been reduced 81 200. Our debt is
now exactly $4,000, two-thirds of the cost
of the valuable plant having been paid.
This debt bears six per cent interest and
is held by parties who will hold the
notes as long as the company may de-
sire The management has thought 1T
better to putt every cent possible in i'm
proving the paper instead of issuing an
inferior paper and paying the debt more
rapidly. In fact, in the long run, 1t
will pay better to spend the money In
printing more news and gradually ex-
tinguishing the debt. The debt ought
to be paid in full within five years, leav-
ing an increasing fund to improve the
news service.
During the past year this paper has
issued three great special editions, rend-
ering to the State in their publication
the greatest service in its history. Its
Charleston Exposition Edition, adver
Using the advantages of the great expo
sition of our sister State, was declared
by the Exposition authorities, the best
and most helpful influence that contri-
buted to the success of the Exposition.
The "Ten Years of Progress Edition.,
issued on the Sth day of April, contain
ing forty-eight pages was in every
way the most valuable single paper ever
printed in North Carolina. 1t was dis
tributed largely at the Charleston Elk
position and thousands of copies sent to
capitalists and home-seekers in other
States. There are applications for this
paper every week from parties living In
Northern States. The State Board or
Agriculture at it's recent session passed
this resolution with reference to that
great paper:
with pleasure we call attention to the
issue of the News and Observer, which
was prepared by the editor, Mr.. Josephus
Daniels, and distributed at Charleston
on North Carolina day. 1t is the most
valuable advertisement of the induce
ments for investments in the State ever
published by a newspaper, and Will IN
terest capitalists seeking such properties.
The publisher deserves the hearty thanks
of the State for his enterprise, patriot
ism and liberality''
The third great special edition of the
year was Ten Years of Educational
proven to be one of the chief agencies In
stimulating the educational revival which
will bless the State for all time. The
State Teachers Assembly, in its late
session at Morehead, passed resolutions
of thanks to the News and Observer for
issuing that magnificent edition. 1t is
the policy of this paper to do all in its
Iower TO promote the Industrial and
educational progress of the State, and
&c was to emphasize the marked en-
torprise and growth along these lines
that these great special editions were
planned and executed.
The North Carolina Year Book first
published in 1901, grew in 1902 to be
handsome volume of 600 pages-a COM
plete and accurate directory of the State
1t truly filled longfelt want. is found