Avoidance of government policies seen as promoting price inflation or excessive levels of debt were the editorial preferences of the journal. As the readership and breadth of coverage of the journal grew, so did the importance of the journal's editorial opinions. With the growth of post– World War II prosperity and investments in the United States, the journal's circulation grewrapidly, reaching over a million copies in 1960 and almost 2 million by the 1990s. The company purchased the Chicago Journal of Commerce in 1951 and effectively became a national newspaper. Starting in the late 1940s the journal published regional editions. Together they provided mutual support in reporting business and financial news. Other business news ventures of the parent Dow Jones Company included the Dow Jones News Service, Barron's, and the new international editions of the journal. Kilgore redesigned the paper, expanding its coverage to include all aspects of business, economics, and consumer affairs, including general news that had an impact on business. By comparison, the daily circulation of the New York Times in 1939 was 482,000 copies.īernard Kilgore became managing editor of the journal in 1945, seventeen years after the death of Clarence Barron. The rest of the four-page paper was thoroughly business oriented, reporting general news in the context of its effect on the markets. The second from left covered the details of the day's market movements. The top left-hand column covered general market and financial movements. The journal initiated several indexes of price movements of stocks, including the Dow Jones Indexes. The Wall Street Journal was designed for the business community: "Its object is to give fully and fairly the daily news attending the fluctuation in prices of stocks, bonds and some classes of commodities" (Wendt, p. Newspapers in the United States have been primarily concerned with general news and the perspectives of their local communities. Following their initial success, the founders sold their company to their Boston correspondent Clarence Barron in 1902. Their company had been founded seven years earlier as a financial news agency serving the burgeoning New York City financial community. Roots in journalism in Providence, Rhode Island. Both Dow and Jones were New Englanders with mutual Charles Dowand Edward Jones, owners of Dow, Jones and Company, began publishing the daily Wall Street Journal on 8 July 1889.
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