The Press: New Team

Every year some big city daily changes owners. But on the fingers of one hand can be counted the big city newspapers which have been launched, new, in the last 20 years. So it was a rare event when a new journalistic team this week got down to the work of creating such a paper. Their aim: not simply another but a new kind of newspaper, for New York City.

Head of the group is Ralph McAllister Ingersoll, who has been publisher of TIME since 1937, was managing editor of FORTUNE (1930-35), an editor of The New Yorker (1925-30). In the new enterprise, no TIME Inc. venture (neither TIME Inc. nor any of its officers has an interest, financial or managerial, in the project), Ralph Ingersoll's associates include ex-Associated Press Executive Edward Stanley, Mystery Story Writer S. Dashiell Hammett, Banker Harry C. Cushing of E. H. Rollins & Sons, Inc., Manhattan Lawyer John F. Wharton. Its corporate name: Publications Research. Inc.

After two years skull practice on what a modern newspaper should be, Publisher Ingersoll this week goes over to his new team to start scrimmage and whip it into shape for a public appearance "whenever it's ready—say in six months or a year.''