Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1909-11-19

business and asking Tor statement
I was informed by these officials that
they knew nothing as to the condi-
ton of the property. Thereupon,
believing that for the protection Of
!, those who had signed the bond, that
1t was time someone knew something
about the condition Of affairs, I de-
manded an accounting Of the bust
ness, and when this was done it was
found that the company had lost APP
proximately $4,000 in publishing the
paper and were still losing money
at an enormous rate. 1t was then de-
cided by the directors to either stop
the publication or buy out the Call,
thus eliminating all competition in
the morning field. The Call was pur-
chased, the purchase price being
guaranteed by less than dozen men,
including myself. At meeting held
at this time JIG: McAndress and my
self were elected to the board Of d.
rectors to fill vacancies, and this was
the first time I had anything to do
with the company in an official capa-
city. AS the paper had been operat-
ing at heavy loss under the prev
ious arrangement proposed that the
property be leased to a practical
newspaper man for the best price
obtainable. I knew that If it was pos
sible to make success Of the enter
prise Mr.. Bloom could do it, and I
with other democrats residing in
Fargo, urged him for the party's sake
to make some sacrifices and take hold
of the paper until it was at least
put on its feet. He refused to con-
slider any proposition which would
take him permanently from Devils
Lake, but did consent to take hold
Of the property and stay with 1t UNI
til it was put on a paying basis and
someone else could be procured to
take charge. He never offered to buy
the property at any price, and doubt
if he would take it as gift. His
offer for the lease was $1,000 a year
for two years and $1,000 per year for
for three years following, without
privilege of buying. McAndress
raised the bid TO $4,000 per year for
the full five years, and as MIR. He'll,
strom, one Of the lessees, informs me,
he has since put in $4,000 in keep
ing the paper up, still believe the
offer made by Mr.. Bloom was fair
one. Certain it is that no newspaper
man could be induced to make as
good an offer at the time. The Nc
Address bid was accepted although
I opposed it for the reason only that
Mr.. McAndress was wholly without
experience in the newspaper business
a fact which has become patent to
all. Besides the price agreed upon,
the lease also provided that" the
News should be run as democratic
paper. Soon after McAndress secur-
ed his lease he announced editorially
that the paper would be Independent
in politics. protested against this
as being unfair. to theldemocrats who
were backing the paper Being un-
able to secure any satisfaction from
him, McAndress was dropped from
the board of directors at the next
annual meeting of the stockholders.
At this. time I was elected president,
J. B. Eaton, vice president, and D. B.
Holt, secretary. Although under the
lease the board has right to compel
the lessees to run the News as
democratic paper it has feared to
exercise that right because the tinan-
cial obligations of the News were
largely held by republicans, and
whenever protests were made against
the policy of the paper in supporting
certain republicans there were at
once rumblings of foreclosure pro-
ceedings. r dislike to be dragged in
to the controversy, but shall defend
myself against this and all other at