There are nearly 500 newspapers in the U. S. printed in foreign languages. Chicago has 60 of them; New York City, 61.*
Last week, the oldest Italian daily newspaper in New York, Il Progresso Italo-Americano (founded 1880), was sold to Generose Pope, president of the Colonial Sand and Stone Co., for $2,053,000about twice the sum which Paul Block recently paid for the Brooklyn Standard Union.
This means that Il Progresso, with a circulation of 81,000, undoubtedly shows a profit of $200,000 a year; that foreign language newspapers are phenomenally valuable properties.
Il Progresso is but one of five Italian newspapers in New York City....