No U. S. city of 500,000 population except Washington, D. C. has five daily newspapers. Result has been that only one Frank Brett Noyes's stodgy Starhas made money; seldom have they achieved any particular journalistic distinction. Five years ago among the least distinguished was the Post. When former Federal Reserve Board Governor and RFC Chairman Eugene Meyer bought the rundown property in 1933 for $825,000, few thought that a banker, entering the publishing business at the age of 57, would make newspaper history.
But Eugene Meyer has a fortune conservatively estimated, at $30,000,000...
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