Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1908-04-07
NEWSPAPER VALUATIONS.
Good Will Often Worth More Than
| Plant.

Plant.
The sale of The Baltimore News to
Frank A. Munsey for $1,500,000 calls
attention to the high values now
placed on newspaper properties in
the United States. 1t was not so very
long ago that The New York Herald
was considered the only daily worth
million dollars. Now there are at
least two dozen newspapers that are
held at that figure or more.
The New York Herald could not
be bought at any price but if it were
for sale it is doubtful if Mr.. Pennett
would part with his property for any
less than $10,000,000, as it is earning
more than ten per cent on that cap
italiZation, and is generally regarded
us the most valuable Of all newspa-
per properties in America. The New
York World is a close second.
Besides these there are in New York
City at least six others worth from two
to eight millions each. Chicago, Kan
sas City San Francisco, st. Louis,
Pittsburg, Philadelphia. Buffalo,
Cleveland, Cincinnati Boston and
Washington are the homes Of news
papers that will fetch from one to
five million dollars.
Probably there are not six in the
entire number whose plants alone
are worth more than half million
dollars Wherein. then lies the great
value of these publications?
The greatest asset any newspaper
can have is that intangible yet
exceedingly valuable thing known
as good will. Nothing is hard
er to get or so easily lost. Some pub
| fishers have spent millions of dollars
| trying to gain it, but nave failed ut
terly. Others have won it practically
| without the expenditure of q single
dollar The successful newspapers OF
today were not born yesterday. They
were established-the most of them
many years ago and have attained
their present position by patient, per-
severing and intelligent hard work.
Good will is based on public conf
dence and confidence comes only af-
ter trial.
| Hence no newspaper can expect
under ordinary circumstances, to
have the loyal support Of its public
as soon as it is launched. 1t must be
tested in the crucible of experience;
it must prove its right to exist. Prom
ises count for nothing; it is their
faithful performance that inspires
confidence and wins support.
The newspaper that touches the
goal line is the one that is honestly
conducted in the interests of the
community it serves. 1t stands for
political as we'll as moral righteous
ness. 1t protects its public from
fraud. graft and evil whenever it has
the opportunity to do so. 1t wears no
collar. is no mans organ. and doesn't
finch when danger threatens. II
to think right. to do right and to get
the best there is out of life. 1t sup
ports good men for office and opposes
the unworthy even though they may
be the nominees of its own party.
a newspaper of this kind after
awhile wins the confidence and es-
TEEN of the public. People believe
in it and take it to their hearts. II
comes to them every morning or ev-
ening as n friend laden with good
things. They feel that the news il
brings is reliable and that its editO-
rial opinions are honest even though
they do not always agree with them
Out of this intimate relationship
comes good will, that most important
of all newspaper assets which often
represents nine-tenths of its value
Editor and Publisher.