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The Customers’ Afternoon Letter was converted into a Journal in 1889, and this marked the beginnings of the Wall Street Journal. Charles Dow and Edward Jones are the founders and creators of The Wall Street Journal, and it is the first stock and bond index of The New York Stock Exchange. A journalist named Clarence Barron purchased The Journal for $120,000 in 1902. He and his predecessors are credited for bringing the Wall Street Journal to a high status of independent financial reporting. After Barron died in 1928, his descendents, The Bancroft Family, remained in control of The Journal until 2007.
At a time of great industrial growth, The Wall Street Journal became prominent and modernized into mainstream financial and business society, as an essential business tool in the 1940’s. For 25 years, starting in 1941, Bernard Kilgore was the managing editor and CEO, which helped the journal go from a circulation of 33,000 to 1.1 million at the time of his death in 1969.
During Kilgore time as editor and CEO in 1947, The Wall Street Journal won one of its 33 Pulitzer Prizes for outstanding editorial writing. Due to the higher cost of news print and a drastic decline in advertising in the 1990’s, The Wall Street Journal hit a point of sever declination, and consequently was sold in 1997.
The Journal, as it is called, released a weekend edition in September 2005, which brought back Saturday publications after being absent for about 50 years. In 1996 The Journal became available online for its subscribers, and it is said to be the largest paid-subscription site. Because of the online edition and revamping as a whole, The Journal remains at the forefront of modern society as consulting tool for important financial, business, and educational purposes. Since the beginnings of The Wall Street Journal, it remains a viable asset and tool for many business women and men who make their living in stocks, bonds and mutual funds. The Wall Street Journal is now one of the largest circulated financial and business news publications worldwide, and has more than 2 million copies in circulation on a daily basis.
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