The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-08-11
Best Year for the News and
Observer.
Continued from First Page.)

daily and weekly papers published by this
company. This does not apply to any
single class of advertising but to all class
es, appealing alike to the town and country
trade and business. Having established to
the satisfaction Of all advertisers both in
and out Of the State, that the News and
Observer has by large odds the largest cir
culatlon of any paper in North Carolina,
the advertising rates have been increased
twenty-five per cent during the year-an
increase that is recognized by the great
advertisers as conservative when the
growth In circulation is considered. The
advertising business of the paper is larger
than ever at the increased rate, and our
efficient and aggressive advertising man
ager feels sure that the next year will wit
ness substantial increase in cash receipts
from advertising and that within a few
years the receipts from advertising will
equal the receipts from the subscription
department. The cash receipts from adj
vertising during the past year were $4,000
in excess of the previous year, which was
the best year until 1903 in the history of
the paper. The cash receipts were cOnsid-
erably more than twice as large during the
past year as during the first year of the
company.
When the present News and Observer
Publishing Company was organized nine
years ago, it had nothing modern in the
way OF a plant. 1t has purchased $4,000
power perfecung press, three Mergenthaler
type-settIng machines, at a cost of $4,000,
two electric motors at a cost of 1000, IN
addition to other necessary equipment for
its plant, at an aggregate cost OF ever
$4,000. 1t was necessary to incur large
debt and place mortgage on the property
of the company to provide this needed
equipment The debt has been reduced
every year. except the first two years
when the paper lost considerable money.
In my report to the stockholders dated
August 18th, 1902, | report ed that the in
teTest bearing debt had been reduced to
$4,000. Since August, 1902, we have paid
$1,000 on the interest bearing debt, re-
ducing the mortgage to 81 20. If the
coming year is a good one, it is my conf
dent expectation that the company will
celebrate its tenth anniversary without a
dollar OF Indebtedness, and with a plant
almost as good as new.
During the past year. in addition to
several smaller special issues, the News
and Observer has published three large
and handsome editions-the 1902
Campaign Edition in September, the Leg
islative Edition in April, and the Bank
ing Edition in jung, These notable
great special issues were apprc-
ciated, and added to the pres
tige of the paper, as had the previous
special editions that have done so much
to develop the best industrial, commercial,
educational and political good of North
Carolina. These papers. particularly those
that have been devoted to telling of North
Carolina resources, progress, and advant-
ages are everywhere acknowledged to have
been among the chief agencies that have
brought about the newer and larger pro
gress that has touched every section Of
the State
improvements in the paper have been
made during the year and others are in
contemplation. The reduction of the debt
opens the way for providing better news
service and other attractive features. The
management looks forward to making a
much better paper when the last dollar of
indebtedness has been paid. The long
gloomy day of big debt and heavy interest
charges, when the future of the paper was
clouded, has passed the night Oh doubt and
fear whether a great Independent Demo
cratic Journal owing no obligations and
having no back-door couli be established
at the capital, has given way to the morn
ing OF accomplishment and achievement
the many perpexitics and troubles and
anxietieo attendant upon the first years OF
loss and trials, have been followed by sue
cess and of confidence of deserving and
achieving larger success i'll the coming
years What has been accomplished in
the face of debt obstacles and hostility,
is cause for Thanksgiving and gratua-
ton. 1t is likewise an incentive to still
great efforts to be worthy of the conf
dence of the large constituency that has
made possible the prosperity and useful
ness Of the paper. The conception the
management has of the News and Observ-
er is one that will make it more of an
agency for public good than for private
gain Conscious that it falls far short of
the excellence toward which constant eff
fort is being made of attainment, and
looking back upon nine years of happy
toll and serious obstacles overcome,
we today can thank God and take cour-
age The future is assured If the man
agement is true to the policy heretofore
pursued and measures up to the response
bility which larger opportunity demands.
The record of the paper for the last nine
years is It's best guarantee of the future.
The management will seek to avoid the
mistakes which time has shown were made,
and by honest effort it trusts to make
paper that will deserve and receive an
ever increasing constituency
| desire to express the appreciation,
which | know every stockholders feels, OF
the faithful service rendered by every Of
ficer and employee of the company 1t Is
to their united efforts their palnS-taklng
and efficient work their zeal Tor the pa
per's welfare that the chief credit Is due
for the good report of the year more
devoted industrious, capable and well
trained band of newspaper workers mas
not given their best thought and EFFORTS
upon any journal in this country ms
company owes them gratitude ana owe
them warm thanks for Their personal
friendship and unfailing loyalty
l desire to express my sincere thanks
for the confidence reposed in me by the
board of directors and stockholders conn
dence and assistance that have mace pos
sibIe the success of the News and Observer
Publishing Company Ny life is bound up
in the success of this enterprise ana inc
generous and kindly sympathy ana coop