The Journal of Commerce

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,[1] the Journal 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 and freight transportation, export and import, global transport logistics and trade, international supply chain management and U.S. custom regulations.

The Journal of Commerce
EditorChris Brooks, Executive Editor.
FrequencyWeekly
Circulation15,000
Year founded1827
CompanyJOC Group (IHS Markit)
CountryUnited States
Based inHudson Yards
New York, NY
LanguageEnglish
Websitewww.joc.com
ISSN1530-7557

1800s

In 1827, Arthur Tappan and 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, 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. Gerard Hallock and David Hale, partners in the JoC, were opponents of slavery but also critics of the abolitionists, and they decried the tactics of the war wing of the Republican Party. After the American Civil War broke out in 1861, the postmaster general suspended the paper's mail privileges, effectively interrupting its publication, on grounds of "disloyalty." Hallock challenged this 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.[2] Three years later, President 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, 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. 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 machines. 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 JoC's 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 Commercial's 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 didn't want writers who couldn't write on the newfangled typewriting machines or compositors who couldn't run linotypes.

1900s

After the 1907 panic, a young editor at The Journal of Commerce, H. Parker Willis, became a leader in the drive to establish a Central Bank. He teamed up with Carter Glass, the Virginia senator, to write the Federal Reserve Act. 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 of 1906 and the U.S. 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. After Reick died in 1924, Stoneham appointed a new front man, Raphael Govin, 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, the publisher of the German-language Staats Zeitung, the New York Herald and the Long Island Press.

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 U.S.

On Saturday, October 20, 1973, as the Yom Kippur War raged, the world learned that Arab nations would be suspending the supply of oil to the United States. The Journal of Commerce 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 U.S. in response to its military support for Israel, which included a $2.2 billion military aid package. There had been threats, and an attempted embargo in 1967 that failed, so 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 in 1956 of the container ship. Containerized shipping made traditional breakbulk 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 the day in February 1993, when terrorists detonated a bomb in the garage under the World Trade Center, 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 printing plant put the paper out that day.

The shipping industry, 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 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 of London, publishers of the widely respected, The Economist. Under The Economist Group the JoC tightened its focus to cover international trade logistics. In 1999, the broadsheet newspaper was converted to a tabloid 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 the 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 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.

Effective 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 utilizes data from PIERS: The Port Import/Export Reporting Service to enhance news stories, 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, U.S. Customs, container shipping, intermodal and breakbulk focus of The Journal of Commerce titles. The new publication is led by Paul Page, Editorial Director, and Joe Bonney, Executive Editor.

UBM sold the majority of its data business to Electra Partners in 2013, who formed AXIO Data Group.[3] IHS Inc. announced in November 2014 that it had signed a definitive agreement to acquire JOC Group Inc.[4]

References

  1. ^ "New York Journal of Commerce".
  2. ^ p 43, AP The Story of News, by Oliver Gramling
  3. ^ UBM data service sale disappoints market
  4. ^ IHS "IHS Announces Agreement to Acquire JOC Group, the World's Leading Supplier of U.S. Seaborne Import and Export Trade Data"

External links

A History of Banking in all the Leading Nations

A History of Banking in all the Leading Nations, first published in 1896 by The Journal of Commerce, is a four-volume history of banking in North America, Europe, China and Japan. At the time of publication it was described as "the largest and most expensive treatise on banking yet published". Thirteen authors contributed to the work, all of whom were considered "eminent as bankers, financiers and political economists". The title page bears the notice "Edited by the Editor of The Journal of Commerce and Commercial Bulletin" (i.e. William Dodsworth).

The first volume, dedicated to the history of banking in the United States, was written by William Graham Sumner (who in many library catalogues is mistakenly listed as the editor of the series).

The second volume contains a history of banking in Great Britain, by Henry Dunning Macleod, and in the Russian Empire, by Antoine E. Horn, editor of the Journal de St.-Pétersbourg, as well as a contribution on "Savings Banks in the United States" by John P. Townsend, president of the Bowery Savings Bank.

The third volume provides contributions on the history of banking in the "Latin Nations" by Pierre des Essars (covering France, Italy, Spain, Belgium, Switzerland and Portugal), in Alsace-Lorraine by Arthur Raffalovich, and in Canada by Byron Edmund Walker.

The fourth volume contains chapters on banking in Germany and Austria-Hungary by Max Wirth, in The Netherlands by Richard van der Borght, in the Scandinavian nations (Denmark, Sweden, and Norway) by the Danish economist and statistician Adolph Jensen, on Japan by Juichi Soyeda, and on China by Thomas R. Jernigan, American consul general in Shanghai.

Arthur Tappan

Arthur Tappan (May 22, 1786 – July 23, 1865) was an American abolitionist. He was the brother of Senator Benjamin Tappan, and abolitionist Lewis Tappan and nephew of Harvard Theologian Rev. Dr. David Tappan.

British Airways World Cargo

British Airways World Cargo formerly British Airways Cargo was a division of IAG Cargo, operating air cargo services under the British Airways brand. It was the twelfth-largest cargo airline in the world by total freight tonne-kilometres flown. Freight services were provided using the main British Airways fleet, as well as dedicated freighter aircraft operating under a wet lease agreement with Global Supply Systems.

Claudia Cassidy

Claudia Cassidy (1899–1996), born in Shawneetown, Illinois, was a music, dance, and drama critic in Chicago.

Starting in 1925 she was music and drama critic for The Journal of Commerce. She was so well known for giving caustic reviews to what she considered bad performances that she earned the nickname "Acidy Cassidy." According to a 1993 article by the Chicago Reader, Rafael Kubelik, was "practically hounded out of town" by Cassidy. Cassidy had a particular aversion to touring companies of Broadway shows.Although she was known for her harsh criticism, Cassidy's enthusiasm may have been even more powerful. According to Philip Rose, A Raisin in the Sun became a hit after a surprise positive review from Cassidy as well as "good reviews in other papers." In 1975, Cassidy was awarded the Joseph Jefferson Award. Her last published writing was for the 1990-91 Lyric Opera program book.Cassidy was married to William J. Cassidy for 57 years. After her husband died in 1986, Cassidy lived at the Drake Hotel until her death in 1996 at the age of 96.The Claudia Cassidy Theater of the Chicago Cultural Center is named in her honor.

Commercial Bulletin

Commercial Bulletin may refer to:

Daily Commercial Bulletin (New York), which merged into The Journal of Commerce

Commercial Bulletin (Boston), Boston

Commercial Bulletin (1872), Troy, Illinois

The Commercial Bulletin (1885–1888), Lane, Kansas

Commercial Bulletin (1880–?), Jackson, Tennessee

New-Orleans Commercial Bulletin, New Orleans; merged into New Orleans Price Current

Twin City Commercial Bulletin, Minneapolis

Daily Commercial Bulletin, Chicago, Illinois

Daily Commercial Bulletin (St. Louis), St. Louis

Daily Commercial Bulletin (Honolulu) (1871–1881), Honolulu

The American Manufacturer, formerly known as Daily Commercial Bulletin and American Manufacturer

Descartes Systems Group

The Descartes Systems Group Inc. (commonly referred to as Descartes) is a Canadian multinational technology company specializing in logistics software, supply chain management software, and cloud-based services for logistics businesses.

Descartes is perhaps best known for its abrupt and unexpected turnaround in the mid-2000s after coming close to bankruptcy in the wake of the dot-com bubble collapse. It is also known as one of the earliest logistics technology companies to adopt an on-demand business model and sell its software as a service (SaaS) via the Internet. The company operates the Global Logistics Network, an extensive electronic messaging system used by freight companies, manufacturers, distributors, retailers, customs brokers, government agencies, and other interested parties to exchange logistics and customs information.

Headquartered in Waterloo, Ontario, Canada, Descartes is a publicly traded company with shares listed on the NASDAQ Stock Market (NASDAQ: DSGX) and Toronto Stock Exchange (TSX: DSG). It has offices in the Americas, Europe, the Middle East, Africa, and the Asia Pacific region.

Dewey Defeats Truman

"Dewey Defeats Truman" was an incorrect banner headline on the front page of the Chicago Daily Tribune on November 3, 1948, the day after incumbent United States President, Harry S. Truman, won an upset victory over Republican challenger and Governor of New York, Thomas E. Dewey, in the 1948 presidential election. It was famously held up by Truman at a public appearance following his successful election, smiling triumphantly at the error.

Eric Ehrmann

Eric Wayne Ehrmann (; born August 13, 1946) is an author, columnist and analyst who follows sports, politics and WMD proliferation issues in Latin America. His columns arguing that Argentina and Brazil participate in the Nuclear Non-Proliferation Treaty and honor the Treaty of Tlatelolco (for a nuclear weapons-free Latin America) helped generate opinion that saw both emerging democracies reconcile their defense doctrines with international norms.

His commentary on Latin American affairs has been published by The Christian Science Monitor, The Chicago Tribune, National Review, The New York Times, The Buenos Aires Herald, The Journal of Commerce USA Today, The Toronto Star, Huff Post, World Post, and Algemeiner.From 1968 to 1971 Ehrmann was a feature writer for Rolling Stone, working under co-founder Jann S. Wenner. Later, his 1992 essay discussing the radical rock band MC5 and how the cultural freedom promoted by Rolling Stone helped facilitate regime change in Cold War Eastern Europe was featured in the magazine's 25th anniversary issue and the book "The Best of Rolling Stone, 25 Years of Journalism on the Edge" which was [published by] Doubleday.From 2009 to January 2018 his contributions on global affairs, sports and politics appeared regularly on HuffPost in English, Portuguese, Spanish, and French

For several years, he has authored the "Institutions and Competition" blog on the Russian International Affairs Council website; RIAC is a think tank that is an adjunct of the Russian Academy of Sciences. Since 2015 he has been involved in a series of project overseen by the Intelligence Advanced Research Projects Activity (IARPA) that compare human analytics (done by individuals and teams) with machine predictions. As a researcher and contributor, Ehrmann's ID at ORCID is 0000-0002-1940-5740.

IES Ltd

IES, Ltd. (IES) Ltd. was a supply chain management software company that developed software for freight forwarders, customs brokers, 3PLs, importers, exporters, NVOCCs and other intermediaries to submit entries to the U.S. Customs and Border Protection, Canada Border Services Agency and other agencies.

Customers included Kühne + Nagel, Crowley Maritime, FedEx.

IES was acquired by The Descartes Systems Group Inc. on June 15, 2012. Descartes is a publicly traded company, ticker symbol TSX: DSG, NASDAQ: DSGX.

Prior to the acquisition by Descartes Systems Group, the software company was originally established in October 1989 and was headquartered in Midland Park, New Jersey, United States, with offices and locations in Hong Kong, Boston and Atlanta.

IES was featured in numerous industry publications such as The Washington Post, The Journal of Commerce, American Shipper, Inbound Logistics, DC Velocity and more.

JOC Group

JOC Group Inc., is a provider of global intelligence for trade, transportation and logistics professionals. It is founded in 1827 and is currently headquartered in Newark, New Jersey. Owned by IHS Inc., its brands include The Journal of Commerce, PIERS: The Port Import/Export Reporting Service, and a number of directory databases covering the international trade, railroad, and trucking markets. The JOC Group also stages about 11 conferences and exhibitions serving international trade and maritime markets.

Joe Howard Jr.

Joseph Howard Jr. (June 3, 1833 – March 31, 1908) was an American journalist, war correspondent, publicist and newspaperman. He was one of the top reporters for The New York Times, city editor of the Brooklyn Eagle and longtime president of the New York Press Club. One of the most colorful reporters of the era, he was a popular lecturer and discussed journalism and his life from 1886 until shortly before his death.

During the American Civil War, he and fellow reporter Francis A. Mallison were responsible in creating a forgery falsely declaring another conscription order in New York City by President Abraham Lincoln. This document was published in both the New York World and the Journal of Commerce and, less than a year after the New York Draft Riots, a minor riot ensured when a mob gathered outside Journal of Commerce. Howard was eventually arrested for what became known as "Howard's Proclamation" or the "Great Civil War Gold Hoax" and held as a prisoner of war at Fort Lafayette.

Knight Ridder

Knight Ridder (from Dutch: ridder, knight) was an American media company, specializing in newspaper and Internet publishing. Until it was bought by McClatchy on June 27, 2006, it was the second-largest newspaper publisher in the United States, with 32 daily newspapers sold. Its headquarters were located in San Jose, California.

List of business newspapers

The following is a list of daily business newspapers, divided by country and region.

MIQ Logistics

MIQ Logistics is a third party logistics company headquartered in Overland Park, Kansas. Today, MIQ Logistics operates in global freight forwarding, customs brokerage, supply chain management, project logistics, origin consolidation, global trade management, warehouse management, and global business intelligence. With offices in North America, Asia, Europe, Africa, Australia, New Zealand, the Middle East, and Latin America.

Mercantile agencies

Mercantile (or Commercial) Agencies, is the name given in United States to organizations designed to collect, record and distribute to regular clients information relative to the standing of commercial firms. That is, they act as a sort of clearing house of information about customers' reliability.

In Great Britain and some European countries trade protective societies, composed of merchants and tradesmen, are formed for the promotion of trade, and members exchange information regarding the standing of business houses. These societies had their origin in the associations formed in the middle of the 18th century for the purpose of disseminating information regarding bankruptcies, assignments and bills of sale.

The mercantile agency in the United States is a much more comprehensive organization. It came into existence after the financial crisis of 1837. Trade in the United States had become scattered over a wide territory. Communication was slow, and the town merchant was without adequate information as to the standing of many businessmen seeking credit. Undoubtedly the severity of the collapse of 1837 was due in part to the insufficiency of this information. New York City merchants, who had suffered so severely, determined to organize a headquarters where reports regarding the standing of customers could be exchanged. Lewis Tappan (1788–1873), founder of the Journal of Commerce (1828) and a prominent anti-slavery leader, undertook the work, and established in New York, in 1841, the Mercantile Agency, the first organization of its kind. The system has been developed and extended since.

This article incorporates text from a publication now in the public domain: Chisholm, Hugh, ed. (1911). "Mercantile Agencies" . Encyclopædia Britannica. 18 (11th ed.). Cambridge University Press. p. 148.

Russ Banham

Russ Banham (born September 20, 1954) is an American writer and reporter formerly with The Journal of Commerce and later a freelance journalist writing for The Wall Street Journal, Inc., Forbes, The Economist, Euromoney, Financial Times, Chief Executive and several other business publications. Banham is the author of 23 books, including The Ford Century, an international bestseller translated into 13 languages. His new book is Higher: 100 Years of Boeing, a history of the aerospace giant. Banham also is a playwright and professional theatre director.

Wanda Jablonski

Wanda Jablonski (23 August 1920, in Czechoslovakia – 28 January 1992, in New York City) was an American journalist who covered the global petroleum industry.

She was the daughter of Polish petroleum geologist Eugene Jablonski, and was immersed in the oil industry throughout her childhood. She was at St George's School, Harpenden in England until July 1937; she gained her school certificate and got the form prize in July 1938 before leaving to study in America. She and her parents traveled widely, and although she became an American citizen, she developed great sympathy for other cultures – an attribute which as an adult enabled her to make deep contacts across the world oil industry, from the multinational oil companies to the leaders of oil-producing countries. She earned a B.A. from Cornell University in 1942 and an M.A. from the Columbia University Graduate School of Journalism the following year.

Jablonski began as the oil editor at the Journal of Commerce, where she made her mark with a 1948 interview in Caracas with Juan Pablo Pérez Alfonso, then the Venezuelan oil minister, which cleverly synthesized the developing nations' viewpoint, in those days rarely heard in the Western hemisphere. She moved to Petroleum Week journal in 1954 and cemented her reputation, speaking on equal terms with oil ministers and company chairmen. A rare woman in a man's world, she was known throughout the oil industry simply as "Wanda".

She is credited with arranging the 1959 Cairo meeting where Abdullah Tariki, Juan Pablo Pérez Alfonso, and other oil ministers of Middle East signed the "Gentleman’s Agreement," a precursor of Organization of the Petroleum Exporting Countries (OPEC), the international organization whose mission is to coordinate the policies of the oil-producing countries. In 1960, Jablonski reported to oil company executives that there was a marked hostility toward the West and a growing outcry against "absentee landlordism" in the Middle East. "From offices in London, New York and Pittsburgh, top executives of oil companies were controlling destinies of Middle East oil-producing states." Ignoring her warning, in August 1960 the major oil companies unilaterally reduced the prices that were used to calculate how much revenue the producing countries received. As a direct result, in September 1960, representatives from oil-producing countries met and formed OPEC.

She then founded Petroleum Intelligence Weekly in 1961, the journal which came to be known as "the bible of the oil industry", and ran it until 1988.

William Dodsworth (editor)

William Dodsworth (1827–1910) was a financial journalist and expert, and from 1893 to 1910 president and editor of the Journal of Commerce and Commercial Bulletin.

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