DEATH OF THE TRIBUNE.

Marlborough Express, Volume XLII, Issue 79, 2 April 1908, Page 6

DEATH OF THE TRIBUNE.

£250,000 LOST 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, aiid his friends had spent an' ~ enormous" sum of money over, the venture,.it was not anticipated that the p_aper 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:—

Tan. 15. ,1906 (first issue)... 239.000 Jan. 22 1906 ... ... ... 113,000 j^eb. 12, iyuft :.. f... ... 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" copies. \JThe large number of "un sold" copies is explained by the fact that the Triburfe was given away "gratis for six months" to some thousands of readers. A statement was published on 15th January last that "the Tribune has almost doubled its net circulation. It has been enabled to increase its advertising rates by 50 per cent. The advertising rates during the year has also very largely increased." ,

£1000 A WEEK LOST. 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 journal which does not "pay." The loss is believed to have been receritly as much as £1000 a week incite of the strenuous efforts of Mr S. J. Pryor, who has been managing editor for the last twelve months,, and materially assisted to increase the circulation and' lessen the hea^y drain on the finances of the conctern. . 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. Philpson-Stow,.. of Fernhurst, Sussex. lit November. last a debenture charge was created in favour of a. London bank on the security of £44,997 of unpaid capital and the nlnnt.

- These figures will demonstrate to the uninitiated something of the cost •of establishing and conducting a daily London newspaper of the present day. ,

The Tribune was essentially a pood, sound, honest paper, well edited by Mr Pryor, welf written, with a full staff of contributors at Home and abroad. It successfully carried out several new ideas, and was becoming known as an authority in Liberal matters. Its decease involves the unemployment of some 200 persons, including a literary staff of forty and many foreign correspondents.