The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1912-11-25
Something About Newspapers
and the Newspaper Business

| eWspaper Business Il
le Appraisers Of the Estate of Il
ted New York Publisher.
opportunity there for somebody who
wanted it as means to an end or for
some Interior purpose. And | am not
speaking of Its character as being sal,
able, but to its good Will in the ordi-
nary and properly accepted term,
Would you advise friend of yours
to invest in the sock OF the Press
Publishing Company for the sake of
an Investment"
/ No SIR
i Gould Failed as Publisher.
!! Mr Stone believed that the supreme
hazard of a newspaper was the matter
4 of the confidence OF the public. The
] personal element played a strong part
and this had a most burning illustra-
ton. he said, In the case OF the World.
In this connection he referred to Jay
i Gould, who once owned the newspaper
j and could not make 1t pay because he
had so many other investments and
Il could not arouse the public confidence.
While do not want to indulge In
any personal discussion said Mr..
/ Stone. Il have not any doubt that il
. John D. Rockefeller should buy the
/. World today and did own it, he could
4 destroy its value within thirty days.
!, That is not reflection on Mr.. Rookie
4 Teller, butt he has other interests
which are large.
Cyrus w. Field once offered me a
half interest in the New fosx ------.
: l would not take it because he was a
J. power in the New York traction lines.
: the elevated roads, ETC., and his name,
!, identifying him with the paper would
; very seriously iniure it.
r Mr.. Pulitzer was newspaper and
J. journalistic genius. He had no super
iors, as l understand 1t. in this line.
The future of the World in the
( hands of even his son would be purely
e problematical. The future of the pa
$ per in the hands of a board of trus
e tees, such as he appointed 1t seems tc
8 me, Is very, very serious problem
D cannot imagine from my point of view
e a worse method of controlling paper
h than through board OF trustees.
Names His own Salary.
"A newspaper represents an opin
ion, or view, of every conceivable
!. thing happening in the world, ant
when you pass that control over to {
:, board of trustees of varied interest.
:. :. and varied views, you come very neal
= plunging the administration into
:. chaos.
! Mr. Pulitzer asked me to take the
!. management of the World a goot
many years ago, and in making thu
. offer he used the phrase that my sal
- airy should be whatever named it
p pro ided it was not less than that 0
= the President of the United States
which was $4,000 year. Mr. Pulitz
- er's value to the World was a grea
= deal more than mine could have been
- it could not nay him what he wa
= worth There is nothing to justif.
- the payment of more than 100000 t
any man as manager of a newspaper
and / should think that would b
- small pay for Mr.. Pulitzer.
9 when Mr.. Pulitzer died he left thi
=. - property like a ship at sea without
I, rudder.
Going into the various hazards of
ne newspaper. Mr.. White told of the dc
q a III oe mn d,,ri,,, tho ol
American war
Enormous expenses are necessar
* at times,'' he said in his affidavit
ne when there is no compensating il
US crease of revenue, and when, in fac
I'M increased circulation, owing to publ
es- interest, which must be satisfied ac
er- ually means increased losses. AS a
ne example Of this, the year 1898 may b
cited. After long and uninterrupte
o. series of highly profitable years, tn
IN great expense of reporting the Spal
ish-American war and the great d.
is, mand for the news thereon, caused
on, deficit that year of $4,000
he
civ Discusses Libel Actions.
ND. He then took UP the cost of pape
ISL and libel actions. showing that til
JUS contracts for the coming four yeal
Of were made at an advance OF 81 to
ron approximately $4,000 tons of p
per year. Up to November /, 1911
there had accumulated against tt
~ World seyenty-three libel actions, a
49, gregating $3,021 600. In the We;
,oo 1908, the World paid s6o,73S in settl
,be ments of suits; in 1909, s79,o37,
hot 1910, s79,S50, and in 1911, s114.10
col These amounts represented not Gel
,ts Of the cost of investigation or
bar Tense.
nla Mr.. Botsford, in his aff1davits, sho'
not 81 .has .ae t'iose cal iiiiss " u