Word: news
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Dates: during 1930-1939
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...Names make news." Last week these names made this news...
Last week the news broke on U. S. front pages that Mr. Hearst, now nearly 75 and busily engaged in putting his affairs in order, had decided to sell or otherwise dispose of at least two-thirds of all his art. Estimated value of the lot: $15,000,000. If Mr. Hearst succeeds in his disposals his estate will have to pay inheritance taxes on only $5,000,000 worth of art objects. Just when the auctioneer's hammer will begin to fall was not stated, because after three months of work Mr. Hearst's agent, Manhattan Dealer...
...Bernarr Macfadden's New York Daily Investment News was only five months old, but wisdom issued from its presses. It advised its readers: "Get out of the market, losses or no losses." The eternal credit that it gained by that advice did not save it from the hard times which descended upon it and Wall Street's three other financial dailies.* Not until 1935 did Mr. Macfadden heed his own good advice by selling the Investment News. Last week his successor, Haydock ("Eternal Optimist") Miller, followed Macfadden's precept and example by bowing the Investment News...
Chief feature of the Investment News was a daily column of market advice run under the by-line of "Waldo Young." Its author, Editor Clarence Hebb, unwilling to leave Wall Street, announced he would continue the column as a broker's tipsheet. Meanwhile, the Wall Street Journal took over Investment News's 6,000 subscriptions, editorialized: "The business recession, rising costs and taxes upon gross -problems with which all business men are familiar-contributed to the final decision to suspend. More will be heard from this ghastly combination...
Death ended his control of more daily newspapers than any other man in the U. S. (Scripps-Howard chain of 24 dailies*), the second largest press association (United Press), two of the greatest newspaper syndicates (United Feature and N.E.A.), one of the leading news picture services (Acme), and three minor radio stations-a journalistic kingdom worth well over...