On the third floor are the editorial rooms. The principal apartment is the "Council Room," which overlooks Broadway. Every other branch of the editorial department has its separate room, and all are furnished with every convenience necessary for doing their work with the utmost precision and dispatch. Each day, at noon, the editors of the _Herald_, twelve in number, assemble in the "Council Room." Mr. Bennett, if he is in the city, takes his seat at the head of the table, and the others assume the places assigned. If Mr. Bennett is not present, his son, James Gordon Bennett, jr., presides at the council, and in the absence of both father and son, the managing editor takes the head of the table. The council is opened by Mr. Bennett, or his representative, who presents a list of subjects. These are taken up, _seriatim_, and discussed 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: