As founder and publisher of the monthly World, Roger S. Phillips, 31, was not out to make money (TIME, Nov. 9). His primary purpose was to make World an important magazine on international affairs. But World's circulation never topped 50.000 (v. a 125,000 break-even point), and losses continued to run at more than $40,000 a month. Last week Publisher Phillips, scion of the wealthy Phillips Gas & Oil* family of Pennsylvania, sadly admitted defeat after he and his family had poured upwards of $1,000,000 into the venture. Said Phillips: "The American public was not ready for a magazine devoted exclusively...
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