The Press: Philharmonic PM

To Variety, Editor Ralph Ingersoll last week explained in an interview how his backer, Marshall Field III, feels about the $22,000 weekly losses of his 5¢ New York tabloid, PM. Said he of Sportsman Field who has so far sunk around $2,000,000 into PM: “Mr. Field compares PM in some ways with the Philharmonic Orchestra. No one thinks of disbanding the Philharmonic merely because it doesn’t now support itself nor never has. . . .”

A further reason for Mr. Field’s feelings: “PM’s losses of approximately $1,000,000 a year at the present rate don’t amount to that much to Field, Ingersoll pointed out, inasmuch as about $850,000 of that sum would be spent for taxes anyway. …”