The late great Joseph Pulitzer founded the St. Louis Post-Dispatch in 1878. His capital was $5.200. The paper's circulation started at 987. In 1882 it was earning $85,000 a year. With his profits Publisher Pulitzer bought the New York World in 1883, built it into an even greater newspaper than the Post-Dispatch.
When he died in 1911, Joseph Pulitzer made a curious mistake. He left eight-tenths of the stock in his two publishing companies to his sons, Ralph and Herbert. To his son Joseph Jr., whom he apparently considered less able than the others,...
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