LABOUR NEWSPAPER

New Zealand Herald, Volume LXXVII, Issue 23718, 26 July 1940, Page 8

LABOUR NEWSPAPER

/ SYDNEY DAILY NEWS INCORPORATION ANNOUNCED . SYDNEY, July 25 The Daily News, New South Wales Labour organ, announces that from Saturday it will be .incorporated in tho Daily Telegraph. The Daily News, originally the Daily Mail, and subsequently tho Labor Daily, lias been published as a morning newspaper for 18 years. In 1924 a number of trades unions purchased the Dailj' Mail and issued it as a Labour papor with the name Labor Daily. Financial difficulties in 1926 and 1931 were tided over by loans from Mr. J. T. Lang. However, following the Labour split in New South Wales, Mr. Lailg used the powers under the debentures he held for his loans to instal a receiver. The Heffron party succeeded in raising sufficient to meet Mr. Lang's claims, but much litigation ensued. The name of the paper was changed in 1938 to the Daily News. However,' tho paper was again in difficulties in 1939 and the chief creditor, the Bank of New South Wales, appointed a receiver. After a reorganisation a new company was registered last.July but the bank was again invited to place a receiver' in control last month. It was subsequently announced that the paper had been bought by Consolidated Press, Limited, publishers of the Daily Telegraph. Consolidated Press stated after the purchaso that the journal would be continued as a Labour newspaper, and that the policy would not be changed'.