Magazine content is available exclusively for TIME subscribers.A Letter From The Publisher: Mar. 21, 1983
Sixty years ago this week, two young Yale graduates, Henry Luce and Briton Hadden, were about to close the third issue of their new magazine, TIME. It must have been difficult to concentrate on the job at hand because the first returns trickling in from Vol. 1 No. 1 were not all that promising. About 2,500 of the first 5,000 newsstand copies, priced at 15¢, had gone unsold. One of the other problems was that Roy Larsen, TIME'S first circulation manager, who was to play a role second only to Luce's in the development of Time Inc., had hired some of...
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