Mr. Munsey Buys

Frank A. Munsey has bought an-other evening newspaper, The Globe and Commercial Advertiser, commonly known as The New York Globe. He thereby becomes the owner of the largest circulation in New York City, with the exception of William Randolph Hearst.

Mr. Munsey's New York papers are: The Herald, which he bought from the Bennetts and in which he submerged The Sun, which he had previously acquired (and in which he had previously submerged The Press); The Sun, which he made over from the old Evening Sun; and The Telegram. Munsey papers are Republican.

Park Row insists that Mr. Munsey bought The Globe because The Globe has membership in the Associated Press, which The Sun has not. If he merges The Globe with The Sun, the latter will acquire A. P. membership.

The price was not named, but an appraisal of the estate of the late Edward F. Searles of Methuen, Mass., showed that it possessed a con- trolling interest by reason of 108 shares of stock, par value $100, ap- praised at $6,944 a share, a total of $750,000. (But it is conceivable that Mr. Munsey paid from $2,000,000 to $3,000,000 for the property.)

Outside of New York City, Mr. Munsey owns no paper except the Paris Herald, a species of travelers' social column. He has formerly owned nine other papers. The last of these, two Baltimore dailies (News and American) he sold to Mr. Hearst in April.

Antiquarian interest attaches to The Globe, because its unbroken record of publication since 1793 makes it the oldest daily in the United States, and because the following names appear in its history: Noah Webster, John Inman and Thurlow Weed. It was founded by Webster under title of American Minerva, supposedly at the instigation of Alexander Hamilton, and obviously for the purpose of supporting President Washington's second administration.