The Washington herald., 1918-09-20


be met entirely out Of advertis-
ing profits. The consequence has
been, apd this state of affairs con-
tinues, that most of the daily papers
In New York have been published
at an annual loss which has had TO
be met by constant loans In Wall
Street. which, as rule, IL content TO
take its profits indirectly-in Austen
ton from hostility to its doings, II
not in positive support of them.
In the field of the evening news
papers conditions are better. In fact,
the morning papers publishing also
evening editions look to the latter to
cover their losses and show a profit.
Thus IL is the evening Journal" that
earns much money. whereas the New
York American" Is run at loss
The Morning WORLD comes out
about even, according to common re-
port. but the Evening World" pros
pers. The morning Sun" has been a
heavy loser for many years; under its
new management it has spent money
so recklessly that It is seriously en-
barra ssed, but the Evening Sun" is
an increasingly sound business prop
osition.
What Is true Of the morning papers
that issue no evening editions is also
true of the independent evening pa
pers, that is, these that have no con-
nection with a morning paper, The
Globe has cost its proprietors con-
siderably more than 100000 already.
The Evening Mail" has borrowed so
much money that IL can never show
a real profit. THE Evening Post" is
in desperate straits. This paper, un-
doubtedly the ablest newspaper in
America. and probably also in the
English-speaking world. is published
at three cents, Yet the cost OF its
excellence is so great. and its circu-
lation so small $500 copies daily
that 1t simply cannot make both ends
meet.
Possibilities of Purchase.
Leaving out Of the reckoning the
Herald" with its Evening Tele-
gram" and the Tribune" which Is
part Of one Of the great fortunes OF
America, and which is the hobby of
the young and energetic son of its
chief owner. Mrs. Whitelaw Reid; the
Times" which prospers, and the
World" which, like the Tribune
is part Of an enormously rich estate,
we have in the morning field:
The Sun.
The Press.
The Morning Telegraph.
The New York Commercial.
Whether THE Sun" is actually for
sale / have carefully refrained from
inquiring into before the time for &C
ton is ripe Certain it is that Mr..
Reick made a despairing pilgrimage
to Europe last summer in the wake
OF a rich American in search OF
81. 900. 900, which he failed to get.
The drawback of the Sun is that
1t is not a member of the Associated
Press. and consequently must rely
for its news upon its own news serv-
ice, the so-called Laffan service. This
paper. I need not say, has an eXcep-
tionally high reputation for its for
eign news.
The Press" changed hands less
than a year ago and its old owner
was so delighted to get it OF his
hands that he made his managing
editor a present of $1,000 out OF the
purchase price. Whether the new
ownership has grown tired of its bar
gaines yet remains TO be seen.
The Morning Telegraph" can be
bought at any moment This Is a
fve-cent paper which has eRdeavCred
to be a sort OF New York "Gaulois." "
1t has no standing as an authority on
foreign affairs: in fact. its field is de-
liberately local. and confined chiefly
to the gay life OF the town. sports.
etc. II would have to be remodelled
from beginning to end.
The New York Commercial' is a
mere skeleton of a newspaper which
L. s,sa TO- 10 raaF NIT
the Commercial Advertiser" II has
no Associated Press service. and has
already lost 100000. In 1897 the own
ers were on the point OF stopping its
publication altogether. I mention il
only as a last resort
In the evening field we have, as al
ready said:
The Evening Post
The Evening Mail.
The Globe.
The first of these would give IT'S
new management at once an in
fiuence that can hardly be computed
Notwithstanding its small circula-
tion. it reaches all parts OF the coun-
try. the editors of the provincial
press accepting il as an unimpeach-
able authority, and following its
lead. A change from ; cents to
cent per copy would be necessary
and a heavy loss would have to be
| looked for at first.
Price of "Evening Mall"
The price quoted for THE Even.
/ ing Mail" by its editor. who con-
trolls the stock is $1,000, 900; whether
control of the Globe" can be had al
all is a matter for cautious inquiry
OF course, an evening paper can bt
turned into a morning paper, Il
preferred. Certain ii is that gen
orally speaking. and with the eX'
ception of the Evening Post" the
morning press has far more in
fluence on political opinion in this
country than have the evening
papers. which are held TO be more
read by women. Hence their superb
ority in the advertising field.
In all this 1 have assumed tha'
the purpose is to buy a paper al
ready existant, and not to found &
new one. The chief advantages Of
this. aside from the invaluable As
ISOLATED Press franchise. which in
l.. l., 90