How cruelly false this statement is nobody can feel more than myself.
The average price paid by my associates in hard money for the
controlling interest in the 1,600,000 shares of capitalization, as
already mentioned, was above 90 cents, or considerably more than one
million dollars in all. An additional $600,000 or more was used to
protect the market for the stock, making our cost, without adding a
cent for promotion expenses, about $1.50 per share instead of four
cents--more than $2,000,000 for the property and not $5,000.
Line by line and word for word I could analyze the statement of Mr.
Hungerford and show that 95 per cent. of it is false both in premise
and deduction. But this would be only cumulative on the one point. My
excuse for mentioning the item is to give a striking example of the
startling force and power which attaches to insidious newspaper
publicity of the kind quoted from the New York _Times_. Mr. Hungerford
"fell" for it, and innocently lent himself to the purposes of the men
who sponsored the story by himself passing it on to the readers of the
_Saturday Evening Post_.
The purpose here has been to show the imposition on the American public
which is being practiced every day in the news columns of daily
newspapers and other publications, but I have been able to convey to
the reader only the barest kind of suggestion as to the depths to which
this perception is practiced. Limitations of space prohibit further
encroachment, or I would fain extend my list of examples indefinitely.
We hear much these days about the abuses of journalism. Much of the
criticism is leveled at publishers who lend the use of their columns
for "boosting" that is calculated to help their advertisers. But little
attention is paid to that other evil namely, the use of the news
columns for the purpose of destroying business rivals, political rivals
and enemies generally of men who wield sufficient influence to employ
the method.
This ramification of the subject appeals to me as of at least as much
consequence to citizens as is the one of inspired puffery. I believe
the public is going to hear much more of this feature of newspaper
abuse in the future than it has in the past. The community is waking up
and is manifesting a desire to learn more about the heinous practice.
RAWHIDE AGAIN
To return to Rawhide. As a result of the "scientific" press-agenting
which the camp received, a frenzied stampede ensued. The rush was of
such magnitude that it stands unparalleled in Western mining history.
Not less than 60,000 people journeyed across the desolate, wind-swept
reaches of Nevada's mountainous desert during the excitement. Not less
than 12,000 of these remained on the ground for a period of several
months.
Public-domain text, read in full here on John Shaqi.
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