Old Partners in News Publishing
The New York Times shares a lot of journalistic DNA with The Associated Press, including two foundational leaders. Henry Jarvis Raymond (1820-1869), who established The Times in 1851, and Adolph S. Ochs (1858-1935), whose family has published The Times since 1896, played a role in shaping the modern A.P., too.
Raymond was the editor of The New York Courier & Enquirer in 1846 when he and a half dozen other New York journalists formed the New York Associated Press, originally to share the cost of covering the distant Mexican-American War.
Competitors emerged as the New York A.P. grew. The Western Associated Press broke away in 1866. The United Press (no relation to United Press International) was formed in 1882. In 1891, Ochs, then the publisher of The Chattanooga Times, organized the Southern Associated Press, which the United Press took over in 1894, having already absorbed the New York Associated Press.
The failure of the United Press in 1897 left the Western Associated Press of Chicago as the nation's dominant newswire. A member newspaper, The Daily Inter Ocean of Chicago, sued The A.P. in 1898 for punitively withholding service. In 1900, the Illinois Supreme Court ruled that The A.P., as a public utility, had to offer its news service to any newspaper that wished to be a client.
As a result, the association reorganized in New York, where corporate laws were more favorable, as a nonprofit cooperative, the forebear of the modern A.P.
On Sept. 29, 1900, The A.P. issued an imposing 14-by-14-inch vellum sheet embossed with its corporate seal of telegraph poles and wires. In a handsome calligraphic hand, the document certified Adolph S. Ochs as a member who was 'entitled to a news report of The Associated Press solely for publication in the New York Times.' The Times still has the certificate on file.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
2 hours ago
- Business Insider
BofA downgrades GAP Airports to Underperform on ‘rich valuation'
BofA downgraded GAP Airports (PAC) to Underperform from Neutral with a price target of $258.40, up from $213.50. The firm cites the stock's 'rich valuation' for the downgrade, noting the shares are trading at a historically high 38% premium to the average multiple of peers. In addition, the slowing Mexican economy 'could spur headwinds ahead,' the analyst tells investors in a research note. BofA remains cautious on a stronger than expected traffic recovery in Mexico. Confident Investing Starts Here:
Business of Fashion
4 hours ago
- Business of Fashion
Zara Owner Inditex Posts Slowing Growth
Zara owner Inditex SA reported a muted start to the second quarter and warned that foreign-exchange fluctuations could have a greater impact on results this year than anticipated. The shares tumbled. Revenue at the world's largest listed clothing retailer rose 6% in the five weeks to June 9, excluding currency effects. That was weaker than last year's start to the summer season, the Arteixo, Spain-based retailer said on Wednesday. 'The release fails to dispel concerns on slowing growth,' analysts at Barclays wrote in a note. The company's shares fell as much as 6.4 percent in early Madrid trading. The stock is down about 4.7 percent since the start of the year. Even though current trading is tracking higher than the 4.2 percent sales growth recorded in the first quarter, the latest numbers suggest that Inditex, like its peers, is not immune to a drop in demand prompted by the global trade war. The company has fared better than many of its rivals by keeping tighter controls on inventory, enabling it to remain nimble in a fickle fashion industry, but its sales-growth rates have headed down sharply from the post-pandemic boom era. Swedish rival Hennes & Mauritz AB posted disappointing first-quarter results because of stockpiles of unsold clothing. Foreign-exchange swings are likely to be a greater-than-expected drag on revenue this year, Inditex warned. The company expects currency fluctuations to shave 3 percent off sales this year, up from 1 percent it had expected previously. The adjustment follows a notable depreciation in both the US dollar and the Mexican peso against the euro, shrinking international earnings when converted back to the company's home currency. Other retailers have also signalled the cooling effect FX swings are having with H&M citing a strong kroner as another reason for its weak first-quarter. Last month, German sneaker brand Puma AG said the effect of tariffs and currency fluctuations was challenging to manage. The global garment industry tends to be a dollar-denominated business, which can particularly affect European retailers when they translate earnings back into local currencies. Inditex first spooked the market in March when it signalled a weaker start to its fiscal year, provoking a 7.5 percent fall — the biggest single-day plunge in its shares in five years. In its first quarter ended April 30, operating profit was in line with analyst estimates, while revenue was below expectations. The retailer said costs grew 2.3 percent in the period, rising faster than the 1.5 percent increase in revenue, including currency swings. Asked about the effect of President Donald Trump's tariffs, Inditex said it would use its broad range of suppliers, including those close to home in Spain, Portugal, Turkey and Morocco to manage the situation. 'In any case, I'd say that we see growth opportunities globally, not just in one market,' said Investor Relations Director Gorka Garcia-Tapia Yturriaga on a call with analysts. Over the last few years, the company has invested in both expanding its network of stores and also on refurbishing existing outlets to ensure a better shopping experience for customers. The company plans to spend €1.8 billion ($2 billion) again this year on store improvements and technology, along with an additional €900 million to expand its logistics network. By Clara Hernanz Lizarraga Learn more: The Brewing Controversy Over the Cotton in Your T-Shirt Zara owner Inditex, the world's largest fast fashion company, is ditching the industry's biggest sustainable cotton scheme amid a deforestation scandal and a wider push to prioritise organic fibres.
Yahoo
5 hours ago
- Yahoo
There's a new 'Rosy's' restaurant in Sioux Falls
SIOUX FALLS, S.D. (KELO) —It's been over a month since Rosie's Cafe closed in Sioux Falls. Now, someone is opening a new restaurant in the same area that sports a similar name, but different meals. Just down the street from where Rosie's Cafe was located, you will now find Rosy's Tacos— a new Mexican restaurant. TenHaken wants drivers to 'feel the urge to zipper merge' 'We're gonna be serving more of, like, asada, birria, dorado, chorizo, ground beef and then hopefully a lot more throughout the time,' Rosy's Tacos, Juan Nuno said. 'Our specialty is Birria. I really love it. It's really amazing,' Rosy's Tacos, Ana Nuno said. The name is similar to Rosie's Cafe, but the owner has his own reason for calling his restaurant 'Rosy's', as it's his eldest daughter's name. 'It wasn't my intention to do it, but I mean, I had a food truck out here and when I had the food truck, I named it Rosy's food truck. So when we opened our restaurant, we decided to bring the name down to the restaurant,' Juan said. The Nunos' family wants to bring something to the neighborhood that they think will add to it's charm. 'We don't have much restaurant business close to this side of town, so it's gonna be kind of nice to have something that you can get close to it, You don't have to go all the way down to the other side of town or downtown,' Juan said. 'We hope to bring in a lot of people so that they can expand their palate or that they can see more authentic Hispanic food,' Ana said. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
