ough they do not surpass the "Thunderer" itself in
the extent and importance of their news, and the ability and value of
their editorials. They are the best managed, employ the greatest talent,
and are the most influential upon the country at large of any American
newspapers.

The leading journals are the morning papers. Five of these, the
_Herald_, _Tribune_, _Times_, _World_, and _Staats Zeitung_, are huge
eight-page sheets, and frequently issue supplements of from four to eight
pages additional. The others consist of four large, old-fashioned pages.

The expense and labor of issuing a first-class morning journal are very
great. The cost of publication ranges from $800,000 to $1,000,000 per
annum; and the force employed, including editors, reporters,
proof-readers, newsmen, pressmen, feeders, clerks and compositors, is
over four hundred persons. The profits vary according to the paper and
the times.

The _Herald_ is private property, as are some of the others. The
_Tribune_, _Times_, and _Sun_, are owned by stock companies. Under Mr.
Raymond the _Times_ was subject to his sole direction, but the _Tribune_
has always suffered from the interference of the stockholders.

Each newspaper has its editor in chief, who controls the general tone and
policy of the paper. He decides all matters relating to its editorial
conduct, and is known to the public as the responsible editor. His
principal assistant is the managing editor. In the absence of the chief
editor he is the controlling power of the journal. His legitimate duties
are to oversee the details of the paper, to see that its publication is
not delayed, to engage and dismiss sub-editors and correspondents, to
prescribe the character of the service required of these gentlemen, and
to regulate the salaries paid to them. All the writers on the paper are
directly responsible to him, and he, in his turn, to the chief editor.
There is also a night editor, whose duties are heavy and responsible. He
is charged with the duty of "making up" the paper, and decides what shall
and what shall not go in--a delicate duty sometimes. He is at his post
at 7 o'clock in the evening, and remains there until the paper goes to
press in the morning, which is generally between 2 and 3 o'clock, though
sometimes it is held back by important news until daylight. The foreign
editor is usually a foreigner, and one well acquainted with the leading
languages of Europe. He controls the