ed by all
present. The topics to be presented in the editorial columns of the
_Herald_ the next day are determined upon, and each editor is assigned
the subject he is to "write up." All this is determined in a short
while. Then Mr. Bennett asks the gentlemen present for suggestions. He
listens attentively to each one, and decides quickly whether they shall
be presented in the _Herald_, and at what time; and if he desires any
subject to be written upon, he states his wish, and "sketches," in his
peculiar and decisive manner, the various headings and the style of
treatment. There are twelve editors and thirty-five reporters employed
on the _Herald_. They are liberally paid for their services. Any one
bringing in news is well rewarded for his trouble. The composing rooms
are located on the top floor, and are spacious, airy, and excellently
lighted. A "dumb waiter," or vertical railway, communicates with the
press room; and speaking tubes, and a smaller "railway," afford the means
of conversation and transmitting small parcels between this room and the
various parts of the building. Five hundred men are employed in the
various departments of the paper.

The circulation of the daily edition of the _Herald_ is estimated by
competent judges at from 65,000 to 70,000 copies. In times of great
public excitement, all the dailies overrun their usual number by many
thousands.

The _Tribune_ has a daily circulation of about 43,000 copies. It is, in
point of ability, the best of the city dailies. It long ago surmounted
its early difficulties, and has been for many years one of the most
profitable enterprises in the city. It is owned by a joint stock
company. It was begun by Mr. Greeley on $1000 of borrowed money. At the
formation of the company the stock was divided into 100 shares at $1000
each. The number is still the same, but the shares could not now be
bought for many times their original value. In 1870 the dividend
declared amounted to $163,000; or, $1630 on each share. At present the
shares are owned as follows:

Shares.
Samuel Sinclair, publisher 21
Horace Greeley, chief editor 12
Estate of Stephen Clark, 14
(formerly money editor)
Dr. J. C. Ayer (of Lowell) 16
Estate of A. D. Richardson 5
Bayard Taylor 5
T. N. Rooker, foreman in 5
composing room
Mr. Runkle (husband of Mrs. L. G. 2
Cal