Evening journal., 1905-10-18
NJ LEAN CONTROLS
WASHINGTON POST
Secures Half Interest From
Wilkins Estate and Other
Holdings
HOW It WAS MADE A SUCCESS
Rn wnllam mnln smilh.

President Roosevelt TO reconcile the d.f-
ferencos between Japan and Russia over
the peace treaty has Washington had
such general topic Of discussion as the
change in ownership of the Washington
/ Post which this week passed into the
/ hands of John r.. Mclean. small vol
ume might easily be written about this
interesting paper probably the most wide
/ ly quoted in the country. as the only
morning paper published at the capital
and the only one making any pretense az
editorial strength. Rejecting public senu-
ment at the Nations Capital. its influence
in moulding opinion and. Indirectly. IN
shaping legislation. can scarcely he cs-
timated but that it has been and viii
be most powerful factor cannot bee
! questioned Consequently. its passasc
from the hands Of the heirs of the late
Beriah wilkins into those of Mr.. Nc
Lean has been "a fruitful theme Of gos-
sip and speculation. particularly On
newspaper row"
It is a condition so well known that
the saving so is trite that no business
pays greater profits proportionate to the
Investment than the publication OF sue
cessful newspapers. but that more money
is sunk IN failures than is made IN sue
cess. Newspapers resemble gold mines
In that where thousands are sunk in de-
velopng worthless shaft millions are
made by accidental discoveries For in
stance. I'm the Washington News COM
fortahle fortune was sunk before that M
starred publication suspended. while the
Evening Star. which originally cost it's
present owners only a small percentage OF
what was lost in the News is one of the
best paying properties in the United
States. on the other hand where the
News cost its hackers at least S3O000. the
Times was started by handful of print
ers out Of work, and although its exist
ence IN earlier days was precarous has
weathered all storms and in the posses
sion Of Mr. Munsey promises to become
a great money maker
He is now erecting home for it which
cannot cost much less than three-quarters
of a million. Washington is the grave
yard Of newspapers" quotes every one
when a paper is born here, and I'm most
instances the stock has scarcely left the
nest before the infant is unceremoniously
snuffed out tt is therefore not unusual
that the Post has passed through trying
times. That it has emerged triumphant
is evidenced that the controlling interest
cost Mr.. Mclean some six or eight hun
/ dred thousand dollars
Some years ago about twenty. I believe,
the Post. with whose earlier stages ! am
not so familiar. fell into the hands Of
Stnson Hutchins A business man and a
newspaper man. Mr.. Hutchins was also
La newspaper broker I'm that he bought
them TO sell. So il was he sold the Post
10 several entcrprising but unfortunate
gentlemen. the paper coming back TO him
each time on defaulted payments. Frank
Hatton, first assistant postmaster gen
eral in the Arthur Cabinet. I believe.
lost his place when Cleveland came in.
About. the same time Beriah wilkins an
Ohio member of Congress. stepped out.
The two formed combination which
could scarcely be exceled from stand
point Of excellence; Hatton the brilliant
| forceful and vigorous editorial writer,
and wilkins thorough business man
whose early training had been that of a
banker. To them Hutchins sold the Post
with the pleasing anticipation that il
would come again into his possession.
But Hatton and wilkins were made Of
different stun. What heroic labors they
endured, what corners We're turned and
what resources were utilized by them to
raise the necessary funds to meet the
/ payments, are unwritten history. But. al
most by their hearts blood they paid for
/ the property and since then the Post has
/ never been headed. Hatton had charge
upstairs and not only gathered about
] him an excellent executive and reporter
ial force but conducted one Of the most
brilliant editorial pages published. In the
business Office Mr.. wilkins secured an
equally capable force and on the one hand
carefully collected the money and on the
other supervised the expenditures with
exactnoss When well on its feet, Mr.. Hat
ton passed away and from his widow Mr..
/ Wilkins purchased her half interest for.
it Is said. about one hundred thousand
| dollars.
The same sold To Mr. Mclean only
about eight or ten years later for approx.
mately thrce-quarters OF q million. Some
years ago Mr. Wilkins retired leaving the
! management Of the paper to his eldest
son. whom he had carefully reared for
! that purpose. 4 slillful business man.
/ and Of delightful and pleasing PERSONAL
ity, Mr.. wilkins was easily the most
prominent and most promising young
man Of his age in the city rs we'll as she
most influential
Offers were repeatedly made for the
Post. but as often declined and il was un-
derstood that it was not for sale. Con-
sequently the surprise was very great
when il was announced that Mr. Mclean
had acquired from the wilkins estate a
half interest in the Post. but this sur
prise became bewilderment when it de-
veloped that in addition to purchasing a
half cf The wilkins holdings. Mr. Mclean
had acquired an odd lot Of either one or
two shares which had belonged 70 tho
Painter estate, thus giving him absolute
control Of the paper. upstairs and down.
the margin being small but sufficient
J What viii he do with e.? is the question
on everybody's tongue. IT is not conceived
that Mr.. Mclean has further political ann
hitions. He made a gallant. If a losing
/ hSht for the Ohio governorship which
cost him barrel Of money. That he
might have had the vice presidential nom
ination on several occasions had he wish
ed to accept it, is quite probable. but be
did not care. for many reasons TO make
the race Some say that he bought the
Post TO further his interests I'm this city