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Clarence W. Barron (July 2, 1855, in Boston, Massachusetts
Massachusetts
– October 2, 1928) is one of the most influential figures in the history of Dow Jones & Company. As a career newsman described as a "short, rotund powerhouse",[1] he died holding the posts of president of Dow Jones and de facto manager of The Wall Street
Wall Street
Journal. He is considered the founder of modern financial journalism.

Contents

1 Early life 2 Career 3 Personal life 4 Legacy 5 Trivia 6 Books 7 References 8 External links

Early life[edit] Barron graduated from Boston
Boston
English high school in 1873. Career[edit] Barron worked at a number of newspapers throughout his life, including the Boston
Boston
Daily News and the Boston
Boston
Evening Transcript, the latter from 1875 to 1887. He founded the Boston
Boston
News Bureau in 1887 and the Philadelphia News Bureau in 1897, supplying financial news to brokers. In March 1903, Barron purchased Dow Jones & Company for $130,000, following the death of co-founder Charles Dow. In 1912, he appointed himself president, a title he held until his death and one which allowed him control of The Wall Street
Wall Street
Journal; while the Woodworths published the paper. He expanded the reach of his publishing empire by merging his two news bureaus into Dow Jones. By 1920, he had expanded the daily circulation of The Wall Street Journal
Wall Street Journal
from 7,000 to 18,750, and over 50,000 by 1930. He also worked hard to modernize operations by introducing modern printing presses and expanding the reporting corps. Barron also established the financial advertising agency Doremus & Co. in 1903.[2] In 1921, he founded the Dow Jones financial journal, Barron's National Financial Weekly, later renamed Barron's Magazine, and served as its first editor. He priced the magazine at 10 cents an issue and saw circulation explode to 30,000 by 1926, with high popularity among investors and financiers. Personal life[edit] Barron married Jessie M. Waldron in 1900 and adopted her daughters, Jane and Martha. Mrs. Barron died in 1918. After Jane married Hugh Bancroft in 1907, Barron became a prominent member of the Boston Brahmin Bancroft family. Martha Barron married H. Wendell Endicott, heir apparent to the Endicott Shoe Company. Mr. & Mrs. Barron and the Endicotts are buried in a joint family plot at the historic Forest Hills Cemetery in Jamaica Plain, Massachusetts. Legacy[edit] After his death, his responsibilities were split between his son-in-law Hugh Bancroft, who became president of Dow Jones, and his friend Kenneth C. Hogate, who became the managing editor of the Journal. They Told Barron (1930) and More They Told Barron (1931), two books edited by Arthur Pound and S.T. Moore, were published that showed his close connections and his role as a confidant to top financiers from New York City
New York City
society, such as Charles M. Schwab. As a result, he has been called "the diarist of the American Dream." (Reutter 148) This has led to allegations that he was too close to those he covered. However, Barron was renowned for pushing for deep scrutiny of corporate financial records, and is thus considered the founder of modern financial journalism. Barron's personal credo, which he supposedly urged the Journal to print and follow, was "The Wall Street Journal must stand for what is best in Wall Street." For example, in 1913, he gave testimony to the Massachusetts
Massachusetts
Public Service Commission regarding a slush fund held by the New Haven Railroad. In 1920 he investigated Charles Ponzi, inventor of the Ponzi scheme, for the Boston
Boston
Post. His aggressive questioning and common-sense reasoning helped lead to Ponzi's arrest and conviction.[3] The Bancroft family remained the majority shareholder of Dow Jones until July 31, 2007 when Rupert Murdoch's News Corp.
News Corp.
won the support of 32 percent of the Dow Jones voting shares controlled by the Bancroft family, enough to ensure a comfortable margin of victory. Trivia[edit]

He helped endow the Clarke School for the Deaf
Clarke School for the Deaf
with two million dollars, and proposed naming it the Coolidge Trust after President Calvin Coolidge
Calvin Coolidge
and his wife Grace. (Roberts 225) Clarence W. Barron's former Boston
Boston
mansion is located at 334 Beacon Street, on the banks of the Charles River. The property was converted into condominiums in the 1980s. Since 2007 a portrait of Clarence W. Barron has been prominently displayed on the parlor level of the former mansion.

Books[edit]

The Boston
Boston
Stock Exchange (1893) Federal Reserve Act (1914) The Audacious War (1915) The Mexican Problem (1917) War Finance, As Viewed From the Roof of the World in Switzerland (1919) World Remaking; or, Peace Finance (1920) Lord's Money(1922) Twenty-Eight Essays on the Federal Reserve Act (unk.) My Creed (unk.) They Told Barron (1930) More They Told Barron (1931)

References[edit]

^ Robert McG. Thomas, Jr., "Mary Bancroft Dead at 93; U.S. Spy in World War II", The New York Times, January 19, 1997. (The subject of this Times obituary was Barron's step-granddaughter.) ^ Sold to BBDO
BBDO
in 1974, Doremus became a unit of Omnicom
Omnicom
in 1986. "Doremus & Co.", Advertising Age Encyclopedia, September 15, 2003. ^ The Confidence Artists at www.vectorsite.net

Roberts, John B. Rating the First Ladies. ISBN 0-8065-2608-4 Reutter, Mark. Making Steel. ISBN 0-252-07233-2

External links[edit]

Works by Clarence W. Barron at Project Gutenberg Works by or about Clarence W. Barron at Internet Archive Extensive biography, heavily credited Mention by Pulitzer Prizes News Luminary: Clarence W. Barron Columbia Encyclopedia entry

Authority control

WorldCat Identities VIAF: 34114451 LCCN: no2001090592 ISNI: 0000 0000 8370 8223 GND: 154554979 NLA: 35986706 BNE: XX862

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