MELVILLE E. STONE 1928 TLS Autograph Letter: AP & Chicago Daily News Journalist for Sale

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MELVILLE E. STONE 1928 TLS Autograph Letter: AP & Chicago Daily News Journalist For Sale

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MELVILLE E. STONE 1928 TLS Autograph Letter: AP & Chicago Daily News Journalist:
$85.00

This is an typed letter, hand signed by newspaper publisher, the founder of the Chicago Daily News, and was the general manager of the reorganized Associated Press, MELVILLE ELIJAH STONE (August 22, 1848 – February 15, 1929).

It is said that the lack of pennies in general circulation in 1876 was hurting the initially unsuccessful Chicago Daily News. Legend has it that Stone convinced local merchants that customers would be more likely to purchase 99¢ items over $1.00 ones and so they began to employ this strategy. Stone\'s belief was that an increase in pennies might lead to an increase in sales of his paper. Stone supposedly purchased multiple barrels of pennies from the US Mint to help the situation even further.

When Stone passed away in 1929, President Hoover stated:

The passing of Melville Stone subtracts from American life a great citizen and a great public servant.

No one has made greater contribution to the best of American journalism than he. No one has been a more constant or more able friend of every good purpose in American life. Thousands have enjoyed his personal friendship and have known his helpfulness. I deeply grieve his loss.

Opened, the letter measures about 10.75\" x 7\". Clean condition, with the original, even folds.

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