Word: woodyards
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Peppermint Press Sirs: The Press would be interested in knowing from TIME more concerning price paid and net investment of Woodyard brothers in their weekly newspapers [TIME, July 9] What percentage of net investment came in the 1934 dividends? The writer's experience has been that every daily newsman at some time in his life had the weekly ownership bug. The hurdle usually was found to be the excessive price asked by owners; Oregon's highest-priced weekly sold for $35,000 without accounts receivable; several weeklies have sold for $20,000 to $25,000. . . . You also mention...
...investment of Woodyard Publications of West Virginia and of New York is $395,000, an average cost of approximately $16.500 per weekly newspaper. Average price paid in Long Island: $10,000. The Brothers Woodyard bought county seat weeklies for as little as $2,900. as much as $29,000 (Fayetteville, W. Va. Tribune). All prices were without receivables. Six months' earnings by Woodyard Publications were a little more than nearly 15% per annum...
...Brothers Woodyard - William ("Bill''), 39, Edward Douglas ("Ted"), 37, and Henry Chapman, 35-are sons of the late Representative Harry C. Woodyard of West Virginia. In 1920 a business dispute dumped the Spencer, W. Va. Times-Record into Congressman Woodyard's lap. Father Woodyard put his sons to work on the paper. They liked it, made it earn money. Five years later they acquired a second weekly, then a third, fourth, fifth...
Learning as they went along, the Woodyards developed the policy of leaving each paper severely alone editorially, keeping a hawkeye on its cash drawer. All an editor-manager had to do was show a fair profit If he failed, his chiefs, directing affairs from Spencer, might cut him down to a one-man shop, might even erase his paper entirely. Hence, Woodyard papers have paid dividends from the start, earning $3.40 - share on 3,500 shares of common stock in the last six months. And they do not bear the stamp of chain journalism...
Circulations of Woodyard weeklies range from 600 for the Fayetteville Journal to 5,900 for the Fayetteville Tribune In boom times the Spencer Times-Record ran as high as 60 pages, led the U. S. weekly field in display advertising. Current average is about twelve pages. Average staff is two men per paper. The editor-manager-printer is usually a youngster. He is expected to fill his sheet with personal notes and local news, is allowed little syndicated "boiler plate." If news is non-existent he may, in emergency, skip an issue, but must make it up some day because...