Word: publication
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Dates: during 1930-1939
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...magazine have been sold or scrapped; Hearst radio stations cut from ten to three; rare Hearst treasures have been knocked down for $708,846; the value of all Hearst properties, estimated (too generously) at $200.000,000 in 1935, reduced to a fraction of that figure.-Just how far the public thinks the Hearst empire has progressed toward dissolution is neatly summed up in this lyric currently sung on Broadway by Funnyman Jimmy Durante...
...down his bonded indebtedness he floated stock. In 1930, when San Francisco Lawyer John Francis Neylan was his counsel, Hearst lumped together his six West Coast papers (on which he had previously borrowed $20,000,000), four other profitable newspapers and the superprofitable American Weekly into Hearst Consolidated Publications Inc. He valued "circulation, press franchises, libraries, etc." at $75,000,000, and with a barrage of publicity denouncing phony stock schemes sold $50,000,000 worth of preferred stock to the public...
Once more he hoped the public might extricate him. In March 1937 Hearst Publications Inc. (a subsidiary of Hearst Consolidated) and Hearst Magazines Inc. filed registration statements with SEC for $35,500,000 of debentures. But SEC never got a chance to pass on the issues. New York Civil Service Commissioner Paul Kern and a Manhattan accountant named Bernard Reis filed a brief objecting to the registration statements as "tending to mislead the public." Hearst kept deferring the effective date of the issues. Hounded by creditors, in June 1937 he took a train to New York and went...
...decade he became more powerful, lost his fervor for reform. He would embrace any policy to enhance his prestige, but his prestige slowly waned. He was bitterly disappointed when his efforts to keep the U. S. from siding with the Allies proved unpopular with the public...
Main obstacle to Engineer Miller's complete conquest of U. S. radio is the fixed belief in the radio business that the listening public, conditioned to "live" shows, will never learn to respect recorded entertainment. But Engineer Miller is old enough (48) to remember a similar objection 30 years ago to the motion picture...