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How much money the News paid to Publisher Ames last week was not revealed. But, with the exception of Post employes thrown out of work, all affected by the deal were well pleased. The Post had 48,000 circulation when "Snake" Ames acquired it. Its advertising lineage for the month previous was 365,000. By last September circulation had shrunk to 37,000, lineage to 125,000. More than half the personnel was union labor whose salaries could not be cut more than 10%. Moreover, the costly A. P. franchise had to be maintained.
Meanwhile the Daily News circulation had slipped from 426,000 two years ago to 400,000. Advertisers were clamoring for rate reductions. By annexing 26,000 high-class, unduplicated circulation contained in the Post's 37,000, the News could retrieve its position of January 1931.
There were other satisfying incidents. The News, which already had an A. P. franchise, sold the Post's membership to Hearst's evening American. It sold the lease on the Post building on North La Salle Street to "Snake's" Brother John Dawes Ames who publishes the Journal of Commerce in a ramshackle plant on East Grand Avenue. Also it was supposed that Brother John's paper would inherit the Post's legal advertising business which the News does not want as the rate is low.
Finally, "Snake" Ames got a good-salaried job as assistant to Publisher Knox. Said Colonel Knox: "I'll give him plenty of jobs. He's a damned smart young fellow."
*From his observation of P. D. Armour's letters to his son, Jonathan Ogden. Lorimer later wrote his famed Letters of a Self-Made Merchant to His Son.
*Satevepost (2,941,543), Ladies' Home Journal (2,697,336), Country Gentleman (1,738,833).