The New York herald., 1921-08-18
REoRGANIzED AUGUST 18 1ss6-Adolph s. och PUBLISHER

worthy pictures of men, women and
events. Altogether the task undertaken
in this direction was to tell promptly and
accurately the happenings and occur
rences that were not sensational but of
people. This supplemented the general
news OF the day intelligently and
quietly presented and with editorial
Interpretation that was fair and informa-
tive. The columns of THE TINES were
open without money and without price
for the presentation of views honestly
differing with the opinions of THE
TINES, and this was practiced to an ex.
tent never heretofore done by news
paper. All Of this soon gave THE TIMES
the reputation that its readers could ex-
pect full and trustworthy information re
garding any and all angles OF the news.
In the very first political campaign dur
AhS aAAN A16AAAi1 VI lHt PAOoCHG liidild &c
ment such was the fairness and impair
tiality OF THE TIMES news reports that at
its close both the Democratic and Repub-
lican managers of the National Commit
tees voluntarily sent letters Of thanks
and appreciation to THE TINES manage
ment.
We began on Aug. is, 1896, with
daily issue OF 1890, over half of which
we're returned unsold. and, as said be-
fore. with deficit of $1,000 a day.
The gross income for the first year was
S561,423, and at the end of the year the
deficit was $6S,12167. The second year
the deficit was $7s,559; but in the third
year the balance was s5O,252 on the right
side and has been so increasingly every
year since. The gross income for the
period OF twenty-five years has
been. in round figures, $100,000,0OO
every dollar of which, less an
average of S125,000 a year withdrawn
from the business and distributed as
dividends, has been expended in making
THE TIMES what 1t is today Not one
dollar Of the $100,00o,Oo0 was a gift or
gratuity. but every cent legitimate
newspaper income. 1t Is a fortunate
outcome for those who own the shares
Of The New York Times Company and
who have been hopeful and patient for so
many years, but IL has also been a happy
and encouraging result for the country
and particularly for American journal
ism.
There was a time when II was no
secret in financial circles that The New
York Times Company had limited re.
sources and that it was an active bor-
rover and this gave rise TO speculation
as to where the necessary funds were OBJ
tained. As a result. wild and stupid
whenever it suited the purpose OF
malevolent persons to attempt to dis
credit the newspaper. Among the
stories were these: That there was Eng
lish or foreign capital in THE TIMES;
that traction interests we're owners or
controllers: that certain political fac.
tions were backing" it; that depart
ment stores were financially interested:
directed its policy, and variations ad
libitum. The truth is that from the day
| assumed the management OF THE
New YORK TIMEs-twenty-fve years
ago today have been in absolute and
free control and no man or interest was
ever in a position to direct or demand OF
me to do anything with THE TIMES, and
no one eUer attempted TO do so. SO far
as the management Of THE NEW YORK
TIMES is concerned we can say, without
fear OF any contradiction from the
thousands who in the past twenty-five
years have been employed on THE TIMES.
that never a line appeared in its columns
to pay real or imaginary debt or 10
gain expected favors. THE NEw YoRK
TIMES owes no man or interest any sup.
port or goodwill that II does not owe
to every good man and worthy cause.
The operations OF so large an enter
prise, including real estate transactions