Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1924-08-21

sale, and stall retained Ine EF'
ming Telegram, which is worth
about $500, 10000 - total
profit of $3,100,0 600 90.
Recently c. w. Barron, the
weli-known financial wrlter'
wrote of the New York Tires:
About Is years ago Adolph 5.
Ochs came from Chattanooga,
Tenn, and picked up the New
York Times at a period of one Of
its downward turns and found
circulation" of 10000, OF
which 10000 were returns"
Today the Times is one of
the great newspapers of the
world approaching 100000 circu-
lation six days Of the week and
holding 100000 circulation for
its magnificent Sunday issue.
In a quarter of a century it has
passed from annual receipts of
half a million to a record of re-
ceipts of half million day.
In plant and real estate the
Times represents today $15, 000,-
600, all earned from the property.
Indeed the earnings are put into
the property and the stockhold-
ers are given dividends in pre-
ferred non-cumulative redeem
able non-yoting 8 per cent shares.
The voting stock is 100000
originally issued as bonus with
the bonds when Mr.. Ochs pur
chased the property. The bonds
and all other debts have been
redeemed, and to the holders Of
this Origin al $IOO0,OO0 voting
stock is now given a dividend Of
500 per cent in non-volng stock,
with $4,000 &C similar stock pre-
viously distributed makes the
total capital $4,000, 900,
This is r.. it full value, for
the gross revenues Of the Times
are approaching $20,000,000 and
the value Of newspaper plant
Is considered by some publishers
to be represented by one year
Of gross receipts.
AS Mr.. Barron states, some
publishers consider the value of
a newspaper to be represented
by one year Of gross receipts.
Others, however, take the ma
chinery value and then add to it
the amount based on the number
of subscribers and the adver-
Using patronage, designating the
intangible assets as goodwill"
Sometimes the value of a news
paper depends on the desire
man or group of men have to
have to own a paper. Cyrus K.
Curtis. of Philadelphia, owner of
the Saturday Evening Post and
the Ladies Home Journal, paid
,600,000.00 for the New York
Evening Post, which has been los
ing money for ten years, and
which has only $4,000 subscrib-
ers.
1t is obvious that there are
many things to be considered
when a value is to be placed on
a newspaper, and one of the most
important of these is the good
will earned by age, prestige and
confidence of the public.
The intrinsic or commercial
value of a newspaper is second
airy to its value to the commune
ty it seeks to serve. 1t may be
the means of adding millions to
the income of its readers-or it
may through lack of initiative
and energy allow an equal sum
to be lost to the community; it
may be the means of bringing
health and happiness, or it may
go on its selfish way, allowing
the public to suffer and die.
Th4re are newspapers which
are daily expanding of its own
funds and energy to stamp out
disease, . bring back prosperi-
ty ard place its community ir
the forefront OF progress.
To a very large extent, the
value of a newspaper to its com
munity depends on the patron,
age the newspaper receive;
from those it seeks to serve.
One of the recognized secret.
of the phenomenal progress oil
Florida and North Carolina is the
exceptionally fine newspapers If
each of these States, and perusa
of the columns of these papers
show that the papers are being
supported by every line of bust
ness-industries, banks, retailer:
and wholesalers.
The newspapers sinews oil
war must come from one source
-its only source of revenue
it's advertising columns.
So after all, the worth of q
newspaper largely depends or
the extent to which it receives
local support.
r@xTNvr- OBSERVATION-DISCLOSURES