DEATH OF THE TRIBUNE.

Feilding Star, Volume II, Issue 534, 30 March 1908, Page 4

DEATH OF THE TRIBUNE.

A PAPER THAT LOST £250,000 IN TWO YEARS. Referring to the demise of London's Liberal paper, The Tribune, The Daily Mail says: — Although it was known that Mr Franklin Thomasson, M.P., the wealthy cotton spinner, who founded it on 15th January, 1906, and his friends had spent an enormous sum of money over the venture, it was not anticipated that tho paper would stop publication at the beginning of a new parliamentary session. It stood alone as a penny London morning newspaper advocating Liberal principles. In July, 1907, the manager, giving evidence in the law courts, stated that the circulation was: — January 15, 1906 (first issue) 239,000 January 22, 1906 113,000 February 12 1906 52,000 A sworn circulation statement for the week July 15-20, 1907, showed a net paid circulation of 56,823, and 15,500 "unsold, returns, and voucher" f copies. The large number of "unsold" copies is explained by the fact , that the Tribune was given away i "gratis for sis months" to some thousands of readers. A statement was published on 15th January last that the "the Tribune has almost doubled its net pair circulation. It has been enabled to increase its advertising rates by 50 per cent. The ' advertising rate during the year has also very largely increased." 1 The death of a paper whose circulation and advertising connection are ' steadily increasing can be accounted . for only by the enormous financial strain involved in the continual issue of a daily journay which does not j "pay." The loss is believed to have ' been recently as much as £1000 a ■ week iv spite of the strenuous efforts , of Mr S. J. Pryor, who has been ; managing editor for the last twelve : months, and materially assisted to increase tho circulation and lessen the heavy drain on the finances of the concern. i The total loss occasioned by the Tribune has been more than £250,---000. The capital which has been so nearly exhausted was £300,000. In January, 1907, £250,000 of this was held in fully paid shares by Mrs Katherine Thomasson, .Mr Franklin Thomasson, and Mr James Davenport Whelpley, of New York. Later 100,000 £1 shares were taken up by Mr C. C. B. Ewell, of Bridgeport, Connecticut, and Mr F. S. P. Philip-son-StoW, of Ferahurst, Sussex. In November last a debenture charge was created in favour of a London bank on the security of £44,997 of unpaid capital and the plant. i These figures will demonstrate to ihe uninitiated something of the cost of establishing and conducting a 1 daily London newspaper of the present day. ; The Tribune was essentially a good, ! sound, honest paper, well edited by ' Mr Pryor, well written, with a full staff of contributors at home and i abroad. It successfully carried out I several new ideas, and was becoming known aa an authority in Liberal matters. Its decease involves the unemployment of some 200 persons, j including a literary staff of forty and I many foreign correspondents.