DOW JONES SEES PROFIT IN FIRST PERIOD RISING TO 65 CENTS A SHARE

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP73-00475R000200820003-3
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 1
• Document Creation Date: December 27, 2016
• Document Release Date: January 6, 2014
• Sequence Number: 3
• Publication Date: March 16, 1966
• Content Type: OPEN SOURCE

STAT
Declassified
in Part - Sanitized Copy Approved for Release @ 50-Yr 2014/01/06 : CIA-RDP73-00475R000200820003-3
JOURNAL
MAR 16 1966
L
\nal, Barron's magazine, The National Observ:
ow Jones Sees Profit er and Dow Jones Books, and operates the
Dow Jones News Service.
Mr. Kilgore, 57 years old, joined the Journal
news staff in 1929. After service in San
Francisco, Washington and New York, he
was elected president of Dow Jones in 1945.
In First Period Rising
Tot 65 Cents a Share
Mr. Kerby, 57, joined The Wall Street Jour-
nal's Washington staff in 1933. He subsequently
? Kilgore Elected Chairman, Kerby rose to managing editor of the Journal, then
? executive editor of the Jourffal, Barron's and
President and Chief Executive; the Dow Jones News Service. He became a
Payment to Kilgore Is Approved ,vice president in 1951, executive vice president
in 1961, and a director in 1965.
?
Mr. McCormack, 57, joined The Wall Street
By a WALL STREET JOURNAL Staff Reporter Journal in 1931. After holding several post-
NEW YORK ? Dow Jones & Co. expects tions, including managing editor, he became
first quarter earnings of about 65 cents a treasurer in 1955, a vice president in 1957, gen-
share, up sharply from $1,971,751, or 42 cents eral manager in 1961 and a director last year.
a share, in 1965's initial period, Bernard Mr. Bottorff, 58, joined the Journal in 1930,
rising to managing editor, then executive edi-.
gore, president, said at the annual meeting. tor of all Dow Jones publications. He was
After the meeting, as previonsly proposed, elected a vice president in 1965.
directors elected Mr. Kilgore chairman and Suit Brought Last Week
cho.;e William F. Kerby to succeed him as Stockholders were told of a suit that at-
pi osident and chief executive officer. The tacks the settlement with Mr. Kilgore as an
hoard also elected Buren H. McCormack ex_ alleged "waste" of the company's assets. Ar-
ecutive vice president, succeeding Mr. Kerby. thur W. Lichtenstein brought the action in New
It named Robert'Bottorff, a vice president, to York County Supreme Court last week. Mr.
succeed Mr. McCormack as general manager. Lichtenstein acquired 10 Dow Jones shares
Shareholders overwhelmingly approved a Feb. 18, the day after the proxy statement for
previously announced $3,503,678 lump-sum pay- the annual meeting was circularized. The state-
ment to Mr. Kilgore to settle a 1946 profit- ment disclosed details of the settlement plan.
sharing agreement. The vote was 4,381,844 for Laurence M. Lombard, partner in the law
' the settlement and 14,126 against it. firm of Hemenway & Barnes and a Dow Jones
First Quarter "Good Start" director, ssid "there doesn't appear to be any
Mr. Kilgore predicted first quarter reve- merit" to Mr. Lichtenstein's action.
nue will rise about 14% to 15% from the year. Mr. triinhard srild thst at the time Mr. Ku-
earlier $17,662,662. $17,662,662. He described the first quar- gore f'igririd his pro fit-s ha ring agreement,
ter results as "a good start" on 1966, but hinged to DOW Jones' per-share earnings, the
cautioned that the rate of revenue and profit 1915 profit was $211,000, or 4 cents a share, on
improvement won't necessarily be equaled in the ha of prcF?cnt capitalization. Last year
succeeding quarters. ? the comparty's net income was $9,650,963, or
Dow_Jones publishes The Wall Street Jour7...,47.0.7 a Fhars.
Declassified in Part - Sanitized Copy Approved for Release @ 50-Yr 2014/01/06: CIA-RDP73-00475R000200820003-3