Books: Book Fair

(3 of 4)

Publishers. Because they exercise an enormous influence on U. S. taste, despite the facts that their branch of the industry is overshadowed by others, and that their business is hazardous, speculative, parochial, regular trade publishers keep the centre of the publishing stage. Although 855 of them scramble for the $70,000,000 annual sales of regular trade publishing, almost half of each year's output of new titles comes from only 18 firms. As the Book Fair opened, these 18 could look back on the biggest publishing year since 1929. Last year produced 8,584 new titles —not as many as the biggest pre-Depression total, but an increase of 25% over the year before. October, traditionally the big month of the fall publishing season, saw 1,023 new books published. Macmillan, largest U. S. publisher, also a major producer of textbooks, brought out 562 new titles last year, will have published 650 by the end of 1937. Harper published 230 in 1936, has scheduled 265 for 1937; Farrar & Rinehart, 130 compared with 115. Even the contrary house of Simon & Schuster, which believes in publishing few books, ran true to its reverse form, published 40 in 1936, will publish 35 this year.

Said Critic Lewis Gannett, emerging from the Fair: "Not all the keen wits of all the 110 publishers frantically pursuing manuscripts can discover 10,000 books worth printing in one year. . . ." In bringing out books they know they cannot sell profitably, publishers have likened their dilemma to that of a man shoveling on a dying fire coal that he knows contains a lot of slate. If he stops shoveling, the fire will go out; if he keeps on, the slate may smother it. Only one book in ten sells 20,000 copies, only six novels in ten sell 2,500 copies, and publishers lose money on novels that sell less than 2,500. Consequently when publishers' lists are growing longer, sure-selling writers have almost as many opportunities to change publishers as they have invitations to literary teas. Publishers accept only one per cent of all manuscripts offered them* (including those of authors under contract), which means they are in the odd predicament of needing new books even while many of those they print remain unsold. As one of the few doing business outside New York's gossipy, interwoven, competitive publishing circle, Philadelphia's old-line Publisher James Lippincott was not anxious to have his writers speak at the Book Fair. He was afraid that other publishers would steal them.