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In those days it was not difficult for Editor Lorimer to read every word of every manuscript before it went into print. Today it is a considerable task, but Editor Lorimer performs it religiously. Like all other Curtis employes he punches a time clock promptly at 9 a. m. Personally genial, he is a thoroughgoing worker, a hard bargainer. Throughout the Curtis plant he is known as "The Boss."
Familiar to the point of triteness is the story—well told by his famed son-in-law, the late Edward William Bok—of Cyrus Curtis' rise from Portland newsboy to publishing tycoon; the story of his "first publishing venture" at the age of 12—selling three newspapers for 9¢ to get money for July 4 fireworks; his founding of one tiny weekly paper after another until 1879 when, in Philadelphia, he established the Tribune & Farmer. His first wife, Louise Knapp, criticized the quality of the women's articles in the paper, undertook the work herself, created a women's supplement which in 1883 became the Ladies' Home Journal, with Mrs. Curtis as editor. In 1911 Country Gentleman was added to the string.
Last year Curtis Publishing Co. earned $12,000,000 (a drop of $7,000,000 from 1930), of which about $10,000,000 was netted by Satevepost. Circulation of all three magazines is higher than ever,* but advertising revenue has fallen off sharply. Last fortnight the company announced a loss for the third quarter of 79¢ per share of its common stock. Last week Variety revealed that for the first time, the advertising income of National Broadcasting Co. ("Satevepost of the air") exceeds that of the Post. For the first nine months of the year NBC grossed $20,486,000, the Post, $18,865,000.
From Room 100
One afternoon a few weeks ago two Chicago newspaper publishers closeted themselves in the swank Chicago Club's celebrated Room No. 100, a club-within-a-club whose members include Bankers Melvin Alvah Traylor, James Reader Leavell, Charles Foster Glore. The two publishers were competitors in the evening field, Col. William Franklin ("Frank") Knox of the Daily News and youthful Knowlton Lyman ("Snake") Ames Jr. of the Post. Last week their Room 100 chat materialized in the sale of the ultra-conservative Post to the energetic News. After 43 years, the Post ceased to be.
The Post, which has not made money for the last 30 years, was picked up by Publisher Ames at auction for $132,000 in February 1931. (Only other bidder was Hearst's evening American which wanted the Post's Associated Press franchise.) Publisher Ames was financed by a $500,000 loan from Samuel Insull's Public Service Trust, a subsidiary of Insull Utility Investments. When the Insull properties passed into receivership Publisher Ames paid off the note at 12¢ on the dollar.