New-York tribune., 1908-01-07
PEARSON GETS TIMES"
Control Of Great London Paper
Passes to Standards" Ouner.

London, Jan S-The London Times has
passed from the control of the Walter family.
which has owned and conducted it for three
generations, ever since ii was first established.
c. Arthur Pearson has obtained the direction
of the great newspaper. new company has
been formed. with Mr.. Pearson as managing di-
rector. He will assume the active management
of the paper. Arthur F. Walter, president Of
the old company will become chairman of the
board of directors of the company.
The formal statement of the change, which
will appear in the morning neWspa pers, an
nounces that the business management Of the
paper will be reorganized by Mr.. Pearson and
that the editorial character of the paper will
remain unchanged and it will be conducted, as
in the past, on lines independent of party poll
tics
The change in the organization requires the
sanction of the court before becoming effective.
Rumor has been busy with the affairs of The
Times" for the last two or three years. The
growing competition of the new school of jour-
nalism, coupled with the high price-threepence
of The Times are supposed seriously to have
affected its prosperity.
Recently "The Times" entered into the book
selling business by arrangement with Amer
ican named Hooper and attempted to undersell
the retailers As a result it became involved
is supposed materially to have reduced its ad-
vertising receipts. Both Lord Northcliffe and
Mr.. Pearson, the two leaders of what is called
here the Americanization of British journal
ISM are believed to have made several at
ternpts to purchase this property
The extent of the financial interest of Mr..
Pearson has not been disclosed He conducts
The Morning and Evening Standard The
Daily Express and several magazines and
biz
moved into the present Times building and
both papers will be issued from the same plant.
Mr.. Pearson says that no change in the price
of THE Times is TO be expected
Despite the formal announcement that its edi-
torial policy would not be changed, it is gen.
orally believed that the change in the man
agement Of THE Times" has been made in the
interests OF tariff reform. II is understood that
Sir Alexander Henderson, who played a lead
ing part in the recent fusion of the Great Cen
trail and Great Northern railways, is associ-
ated with Mr.. Pearson in the deal He is a
strong tariff reformer, in addition to being a
successful railway administrator, and is largely
interested in South American railroads. Sir
Alexander Henderson was largely instrumental
in the success Of the Manchester Ship Canal
The London Times has been Identified with the
Walter family for 123 years. II founded by
John Walter, who issued January Is, 17s5, the
first number of The London Universal Register. -
That name he changed TO THE Times on January
!, 17SA The founder succeeded by the second
John Walter, who was associated with his father
for number of before the latter's death. in
1872. John Walter, the third, in turn succeeded TO
the control, and his son, Arthur Fraser Walter,
succeeded him. Under their management, with the
aid of able editors. the newspaper gained remark
able reputation for journalistic enterprise and
exerted great political influence In its early years
the Walters. father and son, edited we'll as
managed the newspaper, but early in the last
century Sir John Stoddart became the editor. His
successor, in 1876 was Thomas Barnes with whom
was associated leader writer Edward Sterling
whose articles gained for THE Times the name
Of The Thunderer" From 1sI to 1877 the editor
John Theddeus Delane, who regarded as
one of the greatest of English journalists. Thomas
Chenery succeeded him, and after his death George
Earle Buckle became the editor.