The Story Of An Experiment: TIME'S MILESTONES

February 1922—First office for work on the Newsmagazine set up at 141 E. 17th Street, New York City.

March 3, 1923—Vol. I, No. 1 of TIME. Editors: Briton Hadden, Henry R. Luce; Associates: Manfred Gottfried, Thomas J. C. Martyn, Alan Rinehart, John A. Thomas. Circulation Manager: Roy E. Larsen. Advertising Manager: Robert L. Johnson. Circulation: 12,000.

Nov. 5, 1923—First coated-stock ("slick-paper") cover. The man-on-the-cover that week: Giulio Gatti-Casazza, manager of Manhattan's Metropolitan Opera.

October 1924—Circulation: 50,000.

November 1924—TIME'S Letters column first appeared. A correspondent announced himself as a "cover to cover" reader. (TIME still cherishes his kind.)

September 1923—TIME moved to Cleveland.

December 1923—Circulation: 100,000.

January 1927—First...