Word: newsprint
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Dates: during 1920-1929
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Slim, aristocratic Louis Alexandré Taschereau, Premier of Quebec, and bluff, jovial George Howard Ferguson, Premier of Ontario, met in Montreal last week to talk about the price of paper. For Canada the occasion was vital. Of all Canadian industries, largest and most important is the manufacture of cheap, impermanent newsprint for U. S. dailies...
...revenue are in the hands of the provincial governments. Greatest Canadian papermaker is the U. S.-owned International Paper & Power Co. This gargantuan corporation controls under long-term leases, or owns outright, forest land equal in area to New Hampshire, Vermont and Massachusetts. Despite the enormous consumption of newsprint in the U. S. and Canada, paper production is still greater. Prices are low. For the past year the I. P. & P. and its smaller competitors have been paying provincial governments toll for paper made from timber grown on Crown land, sold at a wholesale tonnage price...
...Montreal with three stenographers bustled I. P. & P.'s stocky thick-lipped president, Archibald Robertson Graustein, onetime infant prodigy, brilliant Harvard scholar (TIME, April 29). Newsprint at $60 the ton was impossible! President Graustein had columns of figures at the tip of his tongue. Speaking with the authority of a half-billion-dollar corporation, he was ready to prove his point. A spur to his arguments was the uncomfortable fact that I. P. & P. had a four-year contract to supply Publisher William Randolph Hearst with newsprint at a price range of $50 to $55 a ton, and breaking...
Journalism's trade weekly, Editor & Publisher, explained that the publishers had been alarmed by "secret meetings of Canadian [newsprint] manufacturers with the Premiers of Ontario and Quebec for the purpose of arranging a production level and a standardized price...
...newspapers (notably Chicago's Tribune, Manhattan's Times) own their own paper mills. Most newsprint is bought from the great International (more than twice as big as its nearest competitor), from Great Northern Paper Co., Canada Power & Paper Corp., Abitibi Power & Paper Co. International is not making money on its pulp product but it denied last week that it was planning a price rise, professed ignorance of what the publishers' resolution might mean...