Melville Elijah Stone (August 22, 1848 – February 15, 1929) was an American newspaper publisher, the founder of the Chicago Daily News, and was the general manager of the reorganized Associated Press.[1]
Stone's parents were Reverend Elijah Stone, a Methodist minister, and Sophia Creighton. In 1876, Stone, who started out as a reporter, founded the first Chicago penny paper, the Chicago Daily News. In 1881, he established the Chicago Morning News (renamed the Chicago Record). Stone became general manager of the reorganized Associated Press in 1893, and under his direction it became one of the great news agencies. He retired in 1921. Stone died of hardening of the arteries in 1929.[1]
Legacyedit
Stone's son, Herbert Stone, married Mary Grigsby McCormick in 1900 and perished in the sinking of the luxury liner RMS Lusitania in 1915. His wife was daughter of William Grigsby McCormick of the McCormick family which included her uncle Robert Sanderson McCormick who married the daughter of the founder of the rival newspaper Chicago Tribune.[2] Another son, Melville Elijah Stone, Jr., also predeceased him but he was survived by his wife, the former Martha McFarland of Chicago, whom he married on November 25, 1869, and his daughter Elizabeth Creighton Stone. Stone's brother was the astronomerOrmond Stone. A Liberty ship is named in his honor.
The penny mythedit
On the March 3, 2008 edition of The Rest of the Story, Paul Harvey, Jr. (substituting for his more famous father) related the story of Stone being responsible for the common use of pennies. The Chicago Daily News was not an initial success, as pennies were not widely used in 1876. According to Harvey, Stone convinced local merchants that employee theft could be reduced if the price of item was sold for 99¢ instead of $1.00 etc., forcing employee to make change for sales and less likely to steal money since it required further calculation. Merchants began experimenting with a penny price drop in their goods, meeting with success among their patrons. An increase in pennies, thought Stone, would help the circulation of his penny paper. When merchants began running low on pennies, Stone purchased several barrels of pennies from the Mint, further increasing their use within the Chicago area.[3]
This story is also related in Scot Morris' The Book of Strange Facts and Useless Information, though there is some doubt as to its veracity.[4]
Referencesedit
^ ab"Melville E. Stone Dies In 81st Year At His Home Here. Counselor Of Associated Press Dies". New York Times. February 16, 1929. Retrieved April 16, 2008.
^"The Rest of the Story". March 3, 2008. {{cite episode}}: Missing or empty |series= (help)
^Adams, Cecil (February 21, 1992). "Why do prices end in .99?". The Straight Dope. Retrieved April 9, 2021.
Further readingedit
Abramoske, Donald J. "The Founding of the Chicago Daily News." Journal of the Illinois State Historical Society (1966): 341-353. in JSTOR
Cole, Jaci, and John Maxwell Hamilton. "A Natural History of Foreign Correspondence: A Study of the Chicago Daily News, 1900-1921." Journalism & Mass Communication Quarterly (2007) 84#1 pp: 151-166.
Dennis, Charles Henry. Victor Lawson: his time and his work (U of Chicago Press, 1935; reprint Greenwood Press, 1968); 471pp; scholarly biography
Melville E. Stone, Fifty Years a Journalist (1921), Doubleday, Page and Co.
Story of Chicago in Connection with the Printing Business (Chicago: Regan Printing House. 1912)
Columbia Encyclopedia, sixth edition (2001)
External linksedit
Wikimedia Commons has media related to Melville Elijah Stone.
Melville Stone - Pantagraph (Bloomington, IL newspaper)
January 01, 1970
melville, elijah, stone, august, 1848, february, 1929, american, newspaper, publisher, founder, chicago, daily, news, general, manager, reorganized, associated, press, born, 1848, august, 1848hudson, illinoisdiedfebruary, 1929, 1929, aged, york, cityemployer, . Melville Elijah Stone August 22 1848 February 15 1929 was an American newspaper publisher the founder of the Chicago Daily News and was the general manager of the reorganized Associated Press 1 Melville Elijah Stone Sr Born 1848 08 22 August 22 1848Hudson IllinoisDiedFebruary 15 1929 1929 02 15 aged 80 New York CityEmployer s Chicago Daily NewsAssociated PressSpouseMartha Jameson McFarlandChildrenMelville Elijah Stone Jr Herbert Stuart StoneElizabeth Creighton StoneParent s Elijah StoneSophia CreightonRelativesOrmond Stone brotherSignature Contents 1 Biography 2 Legacy 2 1 The penny myth 3 References 4 Further reading 5 External linksBiography editStone s parents were Reverend Elijah Stone a Methodist minister and Sophia Creighton In 1876 Stone who started out as a reporter founded the first Chicago penny paper the Chicago Daily News In 1881 he established the Chicago Morning News renamed the Chicago Record Stone became general manager of the reorganized Associated Press in 1893 and under his direction it became one of the great news agencies He retired in 1921 Stone died of hardening of the arteries in 1929 1 Legacy editStone s son Herbert Stone married Mary Grigsby McCormick in 1900 and perished in the sinking of the luxury liner RMS Lusitania in 1915 His wife was daughter of William Grigsby McCormick of the McCormick family which included her uncle Robert Sanderson McCormick who married the daughter of the founder of the rival newspaper Chicago Tribune 2 Another son Melville Elijah Stone Jr also predeceased him but he was survived by his wife the former Martha McFarland of Chicago whom he married on November 25 1869 and his daughter Elizabeth Creighton Stone Stone s brother was the astronomer Ormond Stone A Liberty ship is named in his honor The penny myth edit On the March 3 2008 edition of The Rest of the Story Paul Harvey Jr substituting for his more famous father related the story of Stone being responsible for the common use of pennies The Chicago Daily News was not an initial success as pennies were not widely used in 1876 According to Harvey Stone convinced local merchants that employee theft could be reduced if the price of item was sold for 99 instead of 1 00 etc forcing employee to make change for sales and less likely to steal money since it required further calculation Merchants began experimenting with a penny price drop in their goods meeting with success among their patrons An increase in pennies thought Stone would help the circulation of his penny paper When merchants began running low on pennies Stone purchased several barrels of pennies from the Mint further increasing their use within the Chicago area 3 This story is also related in Scot Morris The Book of Strange Facts and Useless Information though there is some doubt as to its veracity 4 References edit a b Melville E Stone Dies In 81st Year At His Home Here Counselor Of Associated Press Dies New York Times February 16 1929 Retrieved April 16 2008 Richard Norton Smith 2003 The Colonel The Life and Legend of Robert R McCormick 1880 1955 Northwestern University Press pp 23 25 ISBN 978 0 8101 2039 6 The Rest of the Story March 3 2008 a href Template Cite episode html title Template Cite episode cite episode a Missing or empty series help Adams Cecil February 21 1992 Why do prices end in 99 The Straight Dope Retrieved April 9 2021 Further reading editAbramoske Donald J The Founding of the Chicago Daily News Journal of the Illinois State Historical Society 1966 341 353 in JSTOR Cole Jaci and John Maxwell Hamilton A Natural History of Foreign Correspondence A Study of the Chicago Daily News 1900 1921 Journalism amp Mass Communication Quarterly 2007 84 1 pp 151 166 Dennis Charles Henry Victor Lawson his time and his work U of Chicago Press 1935 reprint Greenwood Press 1968 471pp scholarly biography Melville E Stone Fifty Years a Journalist 1921 Doubleday Page and Co Story of Chicago in Connection with the Printing Business Chicago Regan Printing House 1912 Columbia Encyclopedia sixth edition 2001 External links edit nbsp Wikimedia Commons has media related to Melville Elijah Stone Melville Stone papers at Newberry Library Melville Stone Pantagraph Bloomington IL newspaper Retrieved from https en wikipedia org w index php title Melville Elijah Stone amp oldid 1214303798, wikipedia, wiki, book, books, library,
