An outstandingly successful phenomenon of U. S. publishing is Reader's Digest, which was modestly launched 18 years agowith the idea of reprinting condensations of worthwhile articlesand today has a circulation of 3,200,000 copies. With no advertising but with a simple format and a substantial price (25¢ a copy) it became a highly profitable enterprise in the hands of its editor-owners DeWitt and Lila Bell Acheson Wallace.
From their profits as the years went by, Mr. & Mrs. Wallace not only increased the thickness of Reader's Digest. They began making substantial payments to magazines whose articles they reprinted,...
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