LABOUR PAPER SOLD

Hokitika Guardian, 21 November 1932, Page 3

LABOUR PAPER SOLD

SYDNEY “WORLD’S” SHORT LIFE £70,000 LOST IN ONE YEAR

SYDNEY, November 7

In 1917 tlie Australian Workers’ Union decided that tlie Labour -cause required to he supported by a news-

paper of its own. Largely by the aid of a levy on- all the affiliated unions, a capital of £200,600 was amassed, the plant for the paper was installed in Macdonell House, Pitt Street, and everything seemed ready for tlie venture.' But the A.W. U. then decided that , the hour had not yet'struck for the'decisive step, and it was not until' October, 1931, that the ‘“World” act-

ually . started its journalistic career. By October 26, 1932, it had reached the first anniversary of its birth, and by that time negotiations for the transfer to other hands were virtually < < inflate.

The “World” is credited ui.h havi g lost £70,000 during its twnve months of life, and financial difficulties on that scale, though they might he faced in prosperous times, are quite insurmountable , just now. The paper has stuck loyally to its projected programme of a moderate Labour policy, and if capable editing' and uniform respect for the dignified traditions of journalism could have saved it, the “World” would have survived. But competition was keen and relentless, a general public scared by Langism, was inclined'to hold itself aloof from everything bearing the Labour label, and* the largest commercial and financial people would not advertise in a “union” paper which, for all its mnd"--ntion. was too honest to conceal its prejudice ip favour of “Socialism” ; and without adequate financial support it coo’d not hope to succeed.

The future of the successor that is fl'<stinor) to .rise from the ashes of the “World” is still wrapped in mystcrv, The syndicate that has bought out the paper was formed by no less a personage than Mr E. G. Theodore, exhVdernl Treasurer, and the other two principal proprietors' are said to he Mr Sidney Snow one of our “big store” magnates, and Mr Campbell-Jones, exma naff in" editfr of Associated News-, papers, Ltd. This seems a strangely assorted allinnee. and most people are curious to see what kind’ of policy the partners will evolve between them. However, as the first number of the new paper is due to. appear on November 9, we have not long to wait. A certain amount o r . delay n the taking over rf the paper is said to have been occasioned by the determination of the old proprietors not to come to terms until and unless the new owners agreed to take over all the 309 employees now running the “World.” This report, if true does credit to the vendors. ■