HOME

TheInfoList




''The Journal of Commerce'' is a biweekly magazine published in the United States that focuses on global trade topics. First published in 1827 in New York, it has a circulation of approximately 15,000. It provides editorial content to manage day-to-day international logistics and shipping need, covering the areas of
cargo In economics, the word cargo refers in particular to goods or produce being conveyed—generally for Commerce, commercial gain—by water, air or land. "Freight" is the money paid to carry cargo. ''Cargo'' was originally a shipload. Cargo ...

cargo
and
freight In economics Economics () is a social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the ...

freight
transportation,
export An export in international trade International trade is the exchange of capital Capital most commonly refers to: * Capital letter Letter case (or just case) is the distinction between the letters that are in larger uppercase ...

export
and
import An import is the receiving country in an export An export in international trade International trade is the exchange of capital Capital most commonly refers to: * Capital letter Letter case (or just case) is the distincti ...

import
, global transport logistics and
trade Trade involves the transfer of goods from one person or entity to another, often in exchange for money. Economists refer to a system A system is a group of Interaction, interacting or interrelated elements that act according to a set of r ...

trade
, international
supply chain In commerce, a supply chain is a system of organizations, people, activities, information, and resources involved in supplying a product (business), product or service (business), service to a consumer. Supply chain activities involve the transfo ...

supply chain
management and
US Customs The United States Customs Service was an agency of the U.S. federal government that collected import An import is the receiving country in an export An export in international trade International trade is the exchange of capital ...
regulations.


1800s

In 1827,
Arthur Tappan Arthur Tappan (May 22, 1786 – July 23, 1865) was an American businessman, philanthropist and Abolitionism in the United States, abolitionist. He was the brother of Ohio United States Senate, Senator Benjamin Tappan and abolitionist Lewis Tap ...

Arthur Tappan
and
Samuel Morse Samuel Finley Breese Morse (April 27, 1791 – April 2, 1872) was an American inventor and painter. After having established his reputation as a portrait painter, in his middle age Morse contributed to the of a single-wire system based on Eu ...

Samuel Morse
decided that New York needed another newspaper. The ''Journal of Commerce'' operated two deepwater schooners to intercept incoming vessels and get stories ahead of the competition. Following Morse's invention of the telegraph, the ''JoC'' was a founding member of the
Associated Press The Associated Press (AP) is an American non-profit A nonprofit organization (NPO), also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, publ ...

Associated Press
, now the world's largest news-gathering organization. Publications in the 19th century took positions on political issues and were rarely concerned with being impartial. The ''JoC'' weighed in on the biggest issue of the day,
slavery Slavery and enslavement are both the state and the condition of being a slave, who is someone forbidden to quit their service for an enslaver, and who is treated by the enslaver as their property Property is a system of rights that give ...
. Gerard Hallock and David Hale, partners in the ''JoC'', were opponents of slavery but also critics of
Abolitionists Abolitionism, or the abolitionist movement, was the movement to end slavery Slavery and enslavement are both the state and the condition of being a slave, who is someone forbidden to quit their service for an enslaver, and who is t ...
, and they decried the tactics of the war wing of the
Republican Party Republican Party is a name used by many political parties A political party is an organization that coordinates candidates to compete in a country's elections. It is common for the members of a political party to have similar ideas about polit ...
. After the
American Civil War The American Civil War (also known by other names Other most often refers to: * Other (philosophy), a concept in psychology and philosophy Other or The Other may also refer to: Books * The Other (Tryon novel), ''The Other'' (Tryon nove ...
broke out in 1861, the
US Postmaster General The United States postmaster general (PMG) is the chief executive officer A chief executive officer (CEO), chief administrator, or just chief executive (CE), is one of a number of corporate executives in charge of managing an organization esp ...
suspended the paper's mail privileges, effectively interrupting its publication, on grounds of "disloyalty." Hallock challenged the decision but failed to have it overturned. With its evening edition suspended and the morning edition distributed only to non-postal subscribers, editor Gerard Hallock stepped down on August 31, 1861. David M Stone, head of the commercial news department, and William Cowper, took over his interest in the Journal. Three years later, President
Abraham Lincoln Abraham Lincoln (; February 12, 1809 – April 15, 1865) was an American statesman and lawyer who served as the 16th president of the United States The president of the United States (POTUS) is the head of state and head of governme ...

Abraham Lincoln
ordered the JoC closed after it was among New York papers victimized by a bogus story quoting the president as calling for 400,000 more volunteers. Following the Civil War, David Stone and
William C. Prime
William C. Prime
, a lawyer who invested part of his fortune in the paper converted the paper from a partnership into a corporation. Prime soon retired to become president of the
Metropolitan Museum of Art The Metropolitan Museum of Art of New York City, colloquially "the Met", is the largest art museum in the Western Hemisphere. Its permanent collection contains over two million works, divided among 17 curatorial departments. The main building ...

Metropolitan Museum of Art
. Though continuing as one of the lead investors, Prime left Stone in sole control. Stone devoted himself to the paper, writing most of the editorials and many of the page one stories. But he neglected the paper's physical plant, allowing its technology to become outdated. Type was still set by hand in an era when most papers had switched over to
linotype machine The Linotype machine ( ) is a "line casting" machine used in printing sold by the Mergenthaler Linotype Company and related It was a hot metal typesetting system that cast blocks of metal type for individual uses. Linotype became one of the m ...

linotype machine
s. The paper lost ground to its competitors, including the ''Daily Commercial Bulletin'', founded in 1865 and owned by William Dodsworth, a friend of Stone's. But unlike his friend, Dodsworth believed it was more important to invest earnings in plant and equipment than to pay it out to investors. In 1893, Prime and Stone agreed to sell the ''JoC'' to Dodsworth and merge it with the ''Commercial Bulletin''. Though Dodsworth was the acquirer, he retained the ''JoCs name. The new paper became ''The Journal of Commerce and Commercial Bulletin'', a name that was to be maintained through the 1990s. The merged paper benefited enormously from the ''Commercials new presses and linotype machines, each of which could replace three or four men setting type by hand, one letter at a time. The papers also had complementary advertising support. The Commercial drew advertising from the grocery and provisions business, from insurance and banking. The JoC's coverage focused on shipping and chemicals, textiles and insurance. When Dodsworth took over, he immediately laid off most members of both staffs. He did not want writers who could not write on the new typewriting machines or compositors who could not run linotypes.


1900s

After the 1907 panic, a young editor at ''The Journal of Commerce'',
H. Parker Willis H is the eighth letter of the Latin alphabet. H may also refer to: Musical symbols * H number, Harry Halbreich Harry Halbreich (Berlin Berlin (; ) is the Capital city, capital and List of cities in Germany by population, largest city ...
, became a leader in the drive to establish a
central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" in the most specific sense is money ...

central bank
. He teamed up with Virginia Senator
Carter Glass Carter Glass (January 4, 1858 – May 28, 1946) was an American newspaper publisher Publishing is the activity of making information, literature, music, software and other content available to the public for sale or for free. Traditionally, ...

Carter Glass
to write the
Federal Reserve Act The Federal Reserve Act was passed by the 63rd United States Congress The 63rd United States Congress was a meeting of the legislative branch of the United States federal government, composed of the United States Senate The United State ...
. Much of the work was done in the offices of the JoC. Throughout its history, the JoC maintained a different perspective on the news. Coverage of major events, such as the
San Francisco earthquake#REDIRECT 1906 San Francisco earthquake#REDIRECT 1906 San Francisco earthquake {{Redirect category shell, 1= {{R from other capitalisation ...
{{Redirect category shell, 1= {{R from other capitalisation ...

San Francisco earthquake
of 1906 and the US entry into World War I, emphasized the effect on business. During World War II, the JoC reprinted and indexed the wartime regulations that controlled production and supplies. The JoC's profits boomed during World War I with a sharp increase in advertising and circulation related to the wartime industrial expansion. The growth continued into the early 1920s. Then in 1921, the Dodsworths sold the paper to William C. Reick, who acquired it with money put up by Charles A. Stoneham, the wealthy owner of racehorses and the
New York Giants The New York Giants are a professional American football team based in the New York metropolitan area. The Giants compete in the National Football League (NFL) as a member club of the league's National Football Conference (NFC) NFC East, East ...
. After Reick died in 1924, Stoneham appointed a new front man,
Raphael Govin Raffaello Sanzio da Urbino (; March 28 or April 6, 1483April 6, 1520), known as Raphael, was an Italian painter and architect of the High Renaissance. List of works by Raphael, His work is admired for its clarity of form, ease of composition, ...
, who pushed the JoC into more sports coverage. Willis, who had become editor-in-chief of the ''JoC'' in 1919, watched with alarm as the paper's profits began to dwindle, when everyone else in the Roaring Twenties was making money. After Govin died and the JoC appeared to be on the verge of extinction, the paper was purchased in 1927 by the three Ridder brothers: Bernard H., Joseph E. and Victor F. They were the sons of
Herman Ridder Herman Ridder (March 5, 1851 – November 1, 1915) was an American newspaper publisher and editor. Biography Ridder was born in New York City New York, often called New York City to distinguish it from New York State New York is a stat ...

Herman Ridder
, the publisher of the German-language '' Staats Zeitung'', the ''
New York Herald The ''New York Herald'' was a large-distribution newspaper based in New York City New York, often called New York City to distinguish it from New York State New York is a state State may refer to: Arts, entertainment, and medi ...
'' and the ''
Long Island Daily Press The ''Long Island Daily Press'' was a daily newspaper that was published in Jamaica, Queens. It was founded in 1821 as the ''Long Island Farmer''. The paper’s founder, Henry C. Sleight, was born in New York City in 1792, and raised in Sag Harbo ...
''. The outbreak of World War II dramatically affected financial and commodity markets. The Ridder brothers soon built a newspaper empire of their own. They sold the JoC's AP franchise, which was a valuable asset in a day when access to the AP wires was restricted to franchise-holders. This enabled them to buy the '' St. Paul Pioneer Press-Dispatch''. Bernard H. Ridder became publisher of the ''Pioneer Press-Dispatch'', turning the JoC presidency over to Joseph E. Ridder. In the postwar years, the ''JoC'' also earned a reputation as a prime source of international trade news. In 1973 the paper scooped the world on perhaps the most significant economic development of the last 30 years. Six days ahead of any other newspaper, the JoC reported that Arab nations were going to embargo oil shipments to the US. On Saturday, October 20, 1973, as the
Yom Kippur War The Yom Kippur War, also known as the Ramadan War, the October War, the 1973 Arab–Israeli War or the Fourth Arab–Israeli War, was an armed conflict fought from 6 to 25 October 1973 between Israel Israel (; he, יִשְׂרָאֵ ...
raged, the world learned that Arab nations would be suspending the supply of oil to the United States. The JoC had the story of the notorious Arab oil embargo more than a week earlier. "It was a story that impacted the entire world", said Harold Gold, who was editor of the JoC at the time. Few thought the Arab nations would use oil as a weapon against the US in response to its military support for
Israel Israel (; he, יִשְׂרָאֵל, translit=Yīsrāʾēl; ar, إِسْرَائِيل, translit=ʾIsrāʾīl), officially the State of Israel ( he, מְדִינַת יִשְׂרָאֵל, label=none, translit=Medīnat Yīsrāʾēl; ), is a ...

Israel
, which included a $2.2 billion military aid package. There had been threats, but since an attempted embargo in 1967 failed, most dismissed the idea that it would ever happen. In the later part of the 20th century, the ''JoC'' intensified its coverage of shipping, earning its nickname as the Bible of the maritime industry. Shipping was transformed forever by the introduction by
Malcom McLean Malcolm Purcell McLean (November 14, 1913 – May 25, 2001; later known as Malcom McLean) was an American businessman. He was a transport entrepreneur who developed the modern intermodal shipping container An intermodal container, often cal ...
in 1956 of the
container ship A container ship (also called boxship or spelled containership) is a cargo ship A cargo ship or freighter is a merchant ship that carries cargo, goods, and materials from one port to another. Thousands of cargo carriers ply the world's seas an ...

container ship
.
Containerized shipping
Containerized shipping
made traditional
breakbulk In shipping, breakbulk cargo or general cargo are goods that must be loaded individually, and not in intermodal containers nor in bulk cargo, bulk as with oil or grain. Ships that carry this sort of cargo are called general cargo ships. Descripti ...
ports obsolete and provided the means for Asia's export boom, which changed the world's economic map. The JoC reported in detail on these and other developments in transportation and logistics. The JoC never missed a day of publication, even on February 26, 1993, when a terrorist bomb detonated in the garage under the
World Trade Center World Trade Centers are sites recognized by the World Trade Centers Association. World Trade Center may refer to: Buildings * List of World Trade Centers * World Trade Center (2001–present), a building complex that includes five skyscrapers, a ...
, killing six people. The paper's New York staff managed to find its way down the darkened, smoke-filled fire-escape stairs of the tower to safety below. The staff at the
Phillipsburg, New Jersey Phillipsburg is a town A town is a human settlement. Towns are generally larger than villages and smaller than city, cities, though the criteria to distinguish between them vary considerably in different parts of the world. Origin and us ...
printing plant put the paper out that day. The
shipping industry Maritime transport (or ocean transport) and hydrolyc effluvial transport, or more generally waterborne transport, is the transport Transport (in British English British English (BrE) is the standard dialect A standard languag ...
, which had flourished through the 1960s and 1970s, began a period of consolidation in the mid-1990s because of plunging freight rates. Separate shipping companies that had run multiple ads in the paper merged and eliminated competing routes. With the rapid growth of the Internet in the 1990s, many shipping companies began to switch their ship schedules onto their Web sites, where shippers around the world could access them.
Knight-Ridder Knight Ridder was an American media company, specializing in newspaper A newspaper is a periodical Periodical literature (also called a periodical publication or simply a periodical) is a category of serial Serial may refer to: Arts ...
decided to get out of business information altogether to focus on its daily metropolitan newspapers. In 1995, it sold the ''JoC'' to
The Economist Group The Economist Group (legally The Economist Newspaper Limited) is a media company headquartered in London London is the capital Capital most commonly refers to: * Capital letter Letter case (or just case) is the distinction betw ...
of London, publishers of the widely respected ''
The Economist ''The Economist'' is an international weekly newspaper A weekly newspaper is a general-news or current affairsCurrent affairs may refer to: Media * Current Affairs (magazine), ''Current Affairs'' (magazine), a bimonthly magazine of cult ...
''. Under The Economist Group, the JoC tightened its focus to cover international trade logistics. In 1999, the
broadsheet A broadsheet is the largest newspaper format Newspaper formats vary substantially, with different formats more common in different countries. The size of a newspaper format refers to the size of the paper page; the printed area within that ...
newspaper was converted to a
tabloid Tabloid may refer to: * Tabloid journalism, a type of journalism * Tabloid (newspaper format), a newspaper with compact page size ** Chinese tabloid * Tabloid (paper size), a North American paper size * Tabloid (film), ''Tabloid'' (film), a 2010 d ...
newspaper format.


2000s

It became increasingly apparent that a print newspaper with a worldwide readership faced a struggle in keeping its readers up-to-date on breaking news. By the time the newspaper was delivered, most readers had already gotten their news by fax, telephone or on the Internet. In 2000, the ''JoC'' converted its daily print publication into a weekly magazine, ''JoC Week'', which provided analysis of trade logistics. In 2001, ''The Economist'' sold the JoC to Commonwealth Business Media, the New Jersey-based publisher of ''Pacific Shipper'', ''Canadian Sailings'', and a number of railroad and trucking directories. The new owners had long-standing connections with the transportation industry, having previously owned ''Traffic World'', another magazine acquired with its purchase of the JoC Group. In 2006,
United Business Media UBM plc was a British business-to-business Business-to-business (B2B or, in some countries, BtoB) is a situation where one business makes a commercial transaction with another. This typically occurs when: * A business is sourcing materials ...
acquired Commonwealth Business Media, from its owners: RFE Investment Partners, Bariston Partners, The Economist Group, ABRY Partners and Commonwealth's management. In 2008, United Business Media reorganized Commonwealth Business Media into two separate market-focused businesses. ''The Journal of Commerce'' became a part of the UBM Global Trade group, focusing on serving professional communities engaged in commercial sea, rail and road transportation and logistics worldwide. On March 2, 2009, ''Traffic World'' magazine and ''The Journal of Commerce'' merged into one publication under the flagship ''Journal of Commerce'' banner. The JoC introduced a redesigned, comprehensive editorial product that uses data from PIERS: The Port Import/Export Reporting Service to enhance news stories to offer a variety of Web tools that will complement its move to a digital environment with real-time focus, provide more analysis and market-oriented content. The combined publication integrates the trucking, rail transport, express and domestic-focused logistics coverage of ''Traffic World'' with the international, US Customs, container shipping, intermodal and breakbulk focus of ''The Journal of Commerce'' titles. ''Pacific Shipper'' and other regional publications were also merged into ''The Journal of Commerce''. The new publication is led by Paul Page, Editorial Director, and Joe Bonney, Executive Editor. ''Canadian Sailings'' was sold to management in 2010. UBM sold the majority of its data business to
Electra Partners Electra Private Equity is a British-based investment trust specialising in private equity. It is listed on the London Stock Exchange. History The company was founded by Michael Stoddart in 1976 as ''Electra Investment Trust''.IHS Inc. announced in November 2014 that it had signed a definitive agreement to acquire JOC Group Inc.IH
"IHS Announces Agreement to Acquire JOC Group, the World's Leading Supplier of U.S. Seaborne Import and Export Trade Data"
/ref>


References


External links

*
Breakbulk.com
news about the
breakbulk In shipping, breakbulk cargo or general cargo are goods that must be loaded individually, and not in intermodal containers nor in bulk cargo, bulk as with oil or grain. Ships that carry this sort of cargo are called general cargo ships. Descripti ...
and project-cargo industry
Joc Sailings
sailing schedules and regional news.

– A proud History since 1827

– Timeline {{DEFAULTSORT:Journal Of Commerce 1827 establishments in New York (state) Business magazines published in the United States Weekly magazines published in the United States Companies based in Newark, New Jersey Magazines established in 1827 Mass media in Newark, New Jersey
Magazines published in New Jersey{{United States topic, exclude-ter=y, title=All U.S. States, navbar=plain, prefix=:Magazines_published_in Mass media in New Jersey New Jersey New Jersey is a U.S. state, state in the Mid-Atlantic States, Mid-Atlantic and Northeastern Uni ...