Financial Observer

Pointed squarely at the gap between monthly FORTUNE and daily Wall Street Journal, a weekly Financial Observer appeared on newsstands for the first time last week. Costing 25-c- a copy, containing 48 pages and no advertisements, it had endowed itself liberally with characteristics of both the publications it aimed to miss. Its cover and typography, its centre section of long corporation stories on Western Union, Sikorsky Aircraft and Promoter George L. Berry, were strongly reminiscent of FORTUNE. Its general run of financial news stories (leading article of Vol. 1 No. 1 was the automobile strike) sounded much like the Journal.

Cedric Seager and John Bruce Heath, promoters of the Financial Observer, had in mind neither of the paper's models when they agitated it last year. Briton and American, they had in mind the revered London Economist. They hired Novelist Reginald Wright Kauffman (The House of Bondage) for editor, transferred him from the Washington Post to the Observer's Manhattan office. Editor Kauffman appointed as his general manager the Post's General Manager Eugene MacLean. Executive Editor of the Observer is Columbia University's economist, Ralph West Robey.

Purpose of the magazine is to give no market tips, just information which a businessman or investor might be glad to mull over or file away. Said Editor Kauffman: "It has nothing to sell except itself. . . ."

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