Vanderbilt, Journalist

Vanderbilt, Journalist

Cornelius Vanderbilt, Jr., fourth of his famous name, descended a few years ago from the family seat of capitalism to till the dusty fields of journalism. First he had positions with The New York Herald and The New York Times. Then Mr. Hearst gobbled him up and the Hearst press was fed with articles under the name of “Cornelius Vanderbilt, Jr.,” in bold-faced type. Later Mr. Vanderbilt organized his own news service, the C.V. Newspaper Service, which still appeared principally in the Hearst press. Now he is about to undertake an independent venture in the newspaper field. He has filed articles of incorporation to start a newspaper in Los Angeles.

The name of his paper will be the Illustrated Daily News. From its title it is evidently to be conducted on lines similar to those of the New York Daily News, a tabloid sheet which has picked up half a million circulation during the past four years among the gum-chewing population of Manhattan. Mr. Vanderbilt’s journalistic efforts ever since his connection with Mr. Hearst have been aimed largely at this class of reader.

There are two noteworthy features of the new paper: 1) It is capitalized for only $100,000—very little for a daily paper; 2) Mr. Vanderbilt subscribed $96,000 of this capital, the other stockholders being four citizens of Los Angeles.

It is understood that it is Mr. Vanderbilt’s ambition to start a chain of newspapers throughout the country, of which this is the first.