Word: journals
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Dates: during 1940-1940
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...Montgomery, Ala., the 112-year-old morning Advertiser last week took over its 52-year-old afternoon competitor, the Alabama Journal, celebrated by bringing out a joint Sunday edition. No run-of-the-mill newspaper union was this. The venerable Advertiser, known to most Montgomeryites as Grandma, is the most potent editorial voice between Atlanta and New Orleans. It cost the Advertiser's Publisher Richard Furman Hudson over $350,000 to buy out the Journal last week, made the combined papers a $1,000,000 property...
...reason for the Advertiser's potency is its editor: farm-born, foppish Grover Cleveland Hall, who ranks with Louisville's Herbert Agar, Richmond's Dr. Douglas Southall Freeman, as an editorial influence in the South. When former Governor James M. Cox of Ohio bought the Atlanta Journal last year (TIME, Dec. 25), he offered Editor Hall $10,000 a year-fabulous salary for a Southern editor-and a $25,000 stock interest to leave the Advertiser, move to Atlanta. Publisher Hudson, no piker, heard of the offer, promptly met it, making 52-year-old Grover Hall probably...
Alfred Harmsworth was 23 when he started his first paper, Answers to Correspondents, a gossipy, amusing weekly journal. It caught on with Britain's masses. Harold Harmsworth was then a 21-year-old postal clerk. Against his better judgment, he let Alfred persuade him to join Answers as business manager. Alfred had the editorial brains, Harold knew shillings & pence. In six years, from their profits, they were able to buy a struggling London daily, the Evening News, and put it on its feet. Then they founded the Daily Mail. In 1917 Alfred was created Viscount Northcliffe, two years later...
...Manhattan for a couple of concerts in Carnegie Hall, and John Barbirolli took his Philharmonikers to Chicago. Result was a two-way surprise. Expecting something special, curious Chicagoans turned out in droves to hear the famous Philharmonic. When they heard it their enthusiasm cooled like untouched soup. Shrugged the Journal of Commerce: "There can be no question about the superiority of our own orchestra's huge refulgent tone." Said the Tribune: "The Philharmonic simply does not coalesce into a satisfactory ensemble...
...real reason for new interest in the rails was the fact that they are peculiarly favored by the excess-profits tax. Taking 20 typical industrial stocks, the Wall Street Journal last week showed that out of every $1 by which these companies increase their profits over 1939, 72? will go for taxes. Not so the railroads. With enormous structures of "invested capital," on which the return for most is nowhere near the law's minimum 8%, they offered their common stockholders one of the longest rides in the park. Signs, good...