The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-04-29
Hearst Bond Issue Is
Placed on Market
$12,OO0,OoO Gilt-Edged Paper.Will Sell Fast,
Say Bankers; Small Buyers Par
ticularly Favored.

Hearst Publications, 1ncorpo-
rated, owns all the outstanding
stocks Of its subsidiary companies
that publish the newspapers ana
magazines involved in this bond
issue. The diversified type OF the
publications. is a strong factor in
the financing. All the newspapers
are among the foremost of the
representative cities in which they
operate, and the magazines are
ranked with the leaders of cores
ponding nationally known maya
zines.
1.-THE bonds, in the opinion OF
counsel, will be direct obligation
Of Hearst Publications, Incorporat-
ed, together with the joint obliga-
lions Of its subsidiary companies,
and they are secured by first
mortgage lien on all real estate,
buildings, equipment and other
fixed assets now owned or here
after to be acquired. They will be
additionally secured by the pledge
of all the stocks of the subsidiary
companies, exclusive OF quality
ing shares.
Assets $11,O57, 200.
"The balance sheet as or
February 20, 1924, rejecting the
proceeds Of the new financing.
shows current assets Of $11 ,057,-
200 as against current liabilities
OF 1,472 500.
"The gross earnings OF the
properties involved in this bono
issue, for the calendar year OF
1928, as reported by Independent
auditors, amounted to $S5,S5l ,495,
and the net earnings, after all
charges, were $6,474.133.
Finally, the management, which
will continue to operate the al
fairs Of Hearst Publications, In
corporated, is efficient and pro-
gressive, as Is indicated by the
results Of operations over a long
period Of years"
Quick Sale Seen.
This detailed statement by Flesh
hacker was supplemented yesterday
by a consensus of laconically ex
pressed opinion among investment
bankers:
/. This bond issue win 60 hk'
wild fire.
There is no doubt the newspaper
and magazines included in Hears
Publications, Incorporated, h av
shown a remarkable growth. Thu
newspapers have a net combined
paid circulation on week days o
$4,000 and on Sundays, 715, 200
The combined circulation Of thu
five magazines is 2,575,0 900 monthly
And all these publications hav'
the advantage Of the supervision
of the experts connected with tn,
Hearst organization. This organiza
ton, which was a pioneer in journal
ism in the United States and which
had its inception In the San Fran
cisco Examiner, now has DEVELOPS
into a chain of newspapers servinI
many important cities from coas
to coast, and, with the addition O
number of magazines, constitute
the largest publishing business II
the world.
In addition to the publication
represented in the bond issue to b,
offered tomorrow, William Randolph
Hearst owns and directs the New
York American, the New York Eve
ming Journal, the Chicago Heral,
and Examiner, the Chicago Evening
American, the Milwaukee Telegram
the Wisconsin News, the Detroi
Times, the Syracuse Telegram, tn,
Syracuse Sunday American, tn,
Boston Advertiser, the BostoI
American, the Baltimore News, tn,
Baltimore American, the Washing
ton Herald, the Washington Times
the Rochester Evening Journal, tn,
Rochester Sunday American, tn,
Atlanta Georgian, the Atlanta Sun
day American, the Fort Worth Rec
ord, the Seattle Post-Intelligencel
and the Albany Times-U Union.