The New York herald., 1920-01-15
IA. MUNSEY
BUYS HERALD
AND TELEGRAM
Acquires All Publication Prop
critics Left by the Late James
Gordon Bennett.
PURCHASER A FRIEND
OF FORMER OWNER
Two Had Many Newspaper Ideas in
Common and Frequently Held
Consultations.

Announcement Is made in the HERAL
today that the James Gordon Bennett
newspaper properties. including the NEv
York HERALD, the Evening Telegram AM
the European Edition Of the NEW YoRI
HERALD published in Paris, have been soil
TO Frank A. Munsey, widely known news
paper and magazine publisher of this city
Mr.. Munsey and the late Mr.. Bennett
conferences both In this country and a
Mr.. BENEFITS home in Paris They ha'
many ideas In common concerning tn
business.
Mr.. Munsey's Notable Career.
Frank Andrew Munsey. who has be
come one OF the most prominent editors
and publishers in this country, came t.
New York in 1882 from Augusta, Me-, t.
begin the publication of a boys weelsl.
paper, the Golden Argosy. Speaking o
that event in his early career, he once
said
my capital consisted OF very larg'
stock of enthusiasm. a grip PARTIAL.
in my pocket"
The struggle that the young publishe
had as office boy. porter, editor, art edi
' tor bookkeeper. circulation manager, ad
,ertisng manager and financier, in con
ncction with bringing out the Argosy-
writing his own fiction. not because h,
wanted to, as he said. but because he hac
fttle money with which to buy stories
Until he reached his first real success
when the magazine paid him net profi
OF 800 week-is a newspaper classic OF
hard work and ultimate reward.
From a net income of 500 week this
1uvenile magazine project grew to $1,500 q
week. It was one OF Mr.. Munsey's owr
stories, THE Boy Broker" which In
creased the circulation of the weekly
twenty thousand copies. He himself has
admitted that he burned midnight oil
in writing that story.
Author of other Stories.
He is the author of other stories
"Afoat in a Great City in 1887: "A
Tragedy of Errors in 1889; Under Fire,
in 1890: "Derrngforth." In 1894. and others
The juvenile Argosy became a MONTH,
adult magazine and appeared as Munsey'.
Weekly. Later. as Mr. Munsey became
convinced that the weekly was doomed
because of the inroads of the daily news
raper, the weekly became Munsey's Maga
zine, which at first sold at twenty-five
cents but afterward became the first biz
monthly magazine to sell for ten cents.
That was only the beginning of Mr.
Munsey's broad activities in the publish
ers field, but lbs great success durinl
the early years was the basis of his later
expansion. IL led to his ownership oi
several newspapers. including the New
York Press, which was consolidated with
-1r C,,, NJ. Nun
chased the latter property in June, 1916
and the Baltimore News. lie also owned
The Washington Times and tho Boston
Journal. He owns the Railroad Mans
Magazine, the All Story Weekly and Other
publications.
Mr.. Munsey was born in Mercer Me.
August q, 1854. He obtained his early
started his business career In a country
store lie became manager of the
Western Union Telegraph office al
Augusta. Me- from which place he started
for New York and his publishing career in
1889.
Buys Baltimore News.
NTr NIunsey purchased tho Baltimore
News in February, 1908. 1t was said at
that time that the publisher had in mind
the expansion Of the various periodicals
be owned into a strong organization OF
ly span the continent In making the
announcement of the purchase OF the
News he said:--
"This Is an age OF organization and OF
cor solidation, and the man who opposes
that tendency Of modern life might as
well oppose his puny strength TO the torrent
OF Niagara"
This idea, apparently, was carried
further In his latter requirement of news
,aner properties and periodicals.. on
June 30 1916. announcement Of the pur-
chase of the New York Sun from William
q Reick was made. He had previously
purchased the New York Press. which
was soon absorbed by the Sun. Only last
summer II was announced that Mr.. Nun
sey had purchased the Sun Building. al
No. $50 Nassau street. which had for
merly been occupied by the American
Tract Society and was held at about
100000
Mr.. Munsey purchased the old Stewart
Building, at Broadway and Chambers
street in 1917. the present home of the
sun. which moved from the Nassau street
auiding several weeks ago II was or
.~-t spot nearly seventy-five years age
,hat the late A. r. Stewart built what
was then considered the finest store in
America Mr.. Munsey has among some
Of his cherished possessions the two large
KEYS, one almost as large as that carried
nv the Lord Mayor of London. which were
uscd years ago to lock the Stewart
Building.
Mr.. Munsey was an ardent Progressive
during the 1912 campaign and advocated
tho cause of Theodore Roosevelt. Follow.
ing the election Of President Wilson, in
1918. IL was Mr.. Munsey who offered a plan
for the amalgamation Of the Republican
lCoutiuued ON PAGE Three, Col ThrceJ