The Montgomery advertiser., 1908-01-12
PEARSON NATHSHEAD
NEW PUBLISHER or THE LONDON
 TIMMs.
New Company Ts Formed with Young Newspaper Man As the Manag- Ing Director of Great
 Property.

London. Jan. 1.-The London Times has passed from the control of the Walter family, which has owned and conducted It for four generations. ever since 1t was first established. C. Arthur Pearson. one of the two journalistic magnates of London. has secured the direction of the great news paper. A now company has been form cd with MT. Pearson as managing di- rector. He will assume, the active man. aEement of the paper.S Arthur F. Wal ter. president of the old company, be- comes chairman of the Board of Direct ors of the new company.
 Rurnor has been busy with the affairs of The Times for two or three years.
 The growing competition of the new school of Journalism and its adherents, coupled with the high price of The Times--e cents--are supposed to have seriously affected its prosperity.
 Recently The Times entered into the bobk selling business by arrangement CTS. As result, it became involved In a war witht the book publishers. which Is supposed to have materially reduced it's advertising receipts.
 Both Lord Northcliffe and Mir. Pear son, the leaders of what Is called here "the Americanization of British jour nalism," are credited with several att tefnpth to puFCDdBe tniS pTOpcrty
 Lord Northcliffe, when he was still known as plain MT. Harmsworth. is be- lieved to have had two great ambitions ito become a peer and to own The Times.
 The extent of the financial interest of Mr. Pearson has not been disclos- ed. He conducts The Morning and The Evening Standard, The Daily Express. The James Gazette and several maga- xgn nA NffTnau nf The Standard will be moved into the pres. ent Times building. and both papers will be issued from the same plant
 The formal statement which will ap- pear in the morning newspapers afl- nounces that the business management of the paper will be reorFanized by MT. Pearson and that the editorial charac- ter of the paper will remain unchang- ed and 1t will be conducted as in the past. on lines independent of party poll tiles"
 The change in the organization re- quires the sanction of the court before becoming effective.
 The history of The Times begins with the history of modern Europe. The first number of the paper was pub lished in 17s5 as The Daily Universal Register. The name was changed to The Times in 17Ss. a year before the outbreak of the revolution in France.
 At that time Belgium was part of the Netherlands. Greece part of Turkey. Italy a confusion of states. German unity undreamed of. and less than goo words told all that was known of rica.
 The paper was established by John Walter and remained in control of his descendants until yesterday. 'The Father of The Times" died in 1872 and the reins of management were taken up by his son of the same name, at whose death in 1S47. John Walter III. became the head of the paper. On his death in 1894 the management of The Times fell upon Arthur Fraser Walter, his son. who, by the arrange ment just perfected, becomes chairman of the Board of Directors of the pa- per.
 The Times was the first paper to employ war correspondent. In 1907 the first "stories from the front" ap-