Word: ledgers
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Dates: during 1950-1959
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...success that surrounded the Communists in the Far East, where the people want to know: Which side will win? Even in Japan, where the West's good friend, Premier Yoshida, was forced to resign, there was new talk of trade and friendship with Red China. On 1954's Asian ledger, the big figures were...
...papers in Jackson, Miss. bitterly competed with each other. The afternoon News (circ. 41,361) was run by fire-breathing Fred Sullens, who liked to boast how he beat up his complainants, was once caned by former Governor Paul B. Johnson. He also liked to attack the morning Clarion-Ledger (circ. 47,396), owned by the Hederman family. But despite the appearance of editorial rivalry in the state capital, the two papers worked as one on business and advertising matters...
...held a club over local businessmen by setting their ad rates jointly and by making national advertisers who wanted to buy space in one paper buy the same amount in the other. As a result of what a Mississippi court termed their monopolistic "subterfuge," both the News and Clarion-Ledger made an average profit of 18% on their total incomes, one of the highest newspaper profit margins...
...Hedermans, a powerful old Mississippi family which has amassed a fortune in the state from real estate, printing and newspapering, were not satisfied. The seven members of the family, led by Clarion-Ledger Manager Robert Hederman Jr. and his cousin, Editor Tom Hederman Jr., quietly began buying up News stock, hoped to turn the News into the afternoon edition of the Clarion-Ledger. Last year when Editor Sullens and the other owners found out that the Hedermans were on the verge of taking control of the News, they tried to block them in court. After a long and bitter court...
Friends & Enemies. No one was more bitter over the sale of the News to the Clarion-Ledger than the citizens of Jackson. Businessmen feared the effects of an absolute Hederman newspaper monopoly; other readers resented the Hedermans' poor coverage of the news and special treatment for their friends and enemies...