The Press: Vanderbilt Down

Cornelius Vanderbilt Jr.—young publisher, editor and scion, who was so hopeful (TIME, May 10) that the crisis would be tided over —the crisis brought upon his many little newspapers by the fact that his father, General Vanderbilt, was tired of losing money in them —found his ships miscarried, his creditors grown cruel, his estate very low. First a potential purchaser of the Illustrated Daily Herald of San Francisco failed to come to terms with him and the paper suspended publication. The Los Angeles Illustrated Daily News, the first paper he started and his best, went into receivership; the San Francisco paper...

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