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The Losses of " The Times."

. I There are some startling statements, if « true, in a special article in the "Review [( of Reviews " for March concerning the " ''disaster" which has overtaken the ' "London Times" newspaper since the publication of Pigott's forgeries. When L Mr Houston first went to "The Times " ; and offered the alleged Parnell letters he , asked for £1780. "The Times" paid ■ £1780 for the first batch of letters, with i another £1000 or more added for other i batches purchased thereafter, making the ■ first cost of the forgeries amount to i bet^efeiv-£3OOO and £4000. From these i acquisitions the expenditure began. 1$ has gone on increasing ever since. A sum of £5000 was recently paid over to r Mr Parnell as damages in his libel suit; ■ but from first to last, it is stated,'"Thti Times " has dropped, in solid cash down, over £100,000. Then as regards advertisements and circulation. In 1871 the total gross revenue of the paper was stated to be £460,000—£300,000 coming from advertisements and—£l6o,ooo from^ sales. "The Times" lost last year in advertisements alone at the rate of £20,000 per annum. There were 500 columns less of advertisements in the twelve months following the opening of the Parnell Commission than in the previous twelve months. Now, as to the circulation of "The Times "the writer states that in 1844 it was 24,000 copies ; in 1851, 40,000; in 1854, 51,000; in 1860 60,000 ; in 1871, it had dropped i to 50,000. When Mr Walter, the! chief proprietor, went to America, he ] stated publicly at a banquet that the circulation of his paper was. 50,000.a day. But, according to the article from which Aye are quoting, the daily average sale is not now much above" 25,000. If a circulation of 60,000 brought in £160,000 in gross sales, a circulation of 25.000 repre. sents a drop of £67,000, The total loss from advertisements and sales since 1886 is £50,000 per annum—a much more serious matter than the direct loss of £100,000 over the forged letters. Iri 1888 a dividend cheque paid to one of the shareholders represented an annual dividend of over £120,000. In 1889 his cheque represented a dividend of barely £12,000. " ,

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/AG18900531.2.10

Bibliographic details

The Losses of " The Times.", Ashburton Guardian, Volume VII, Issue 2438, 31 May 1890

Word Count
364

The Losses of " The Times." Ashburton Guardian, Volume VII, Issue 2438, 31 May 1890

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