Jerrold E. and Helen C. Arbini - Page 18

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          values of $568 and $98, respectively, to account for Sunday                 
          comics and significant events issues.  With respect to the issues           
          from 1907 to 1916, Mr. Hughes determined a value of $50 per                 
          annual run.  He increased the value to $100 per annual run for              
          the years 1917 and 1918 due to news coverage of World War I.  An            
          additional value of $690 was added to account for the significant           
          events issues.  Mr. Hughes did not determine an additional value            
          for Sunday comics from newspapers for the years 1907 through                
          1918.18  Overall, Mr. Hughes valued the Los Angeles Examiner                
          newspapers at $3,613.                                                       
               Finally, Mr. Hughes determined a value for the Chicago                 
          Tribune newspapers.  In valuing these annual runs from 1915                 
          through 1951, he accounted for the facts that the newspapers                
          contained war coverage, the “gangster era” in Chicago, and that             
          there was more interest in individual issues for birthday and               
          anniversary purposes because Chicago was the largest city in the            
          Midwest.  Mr. Hughes valued annual runs of the Chicago Tribune at           
          between $75 and $175.  Mr. Hughes placed additional values of               
          $2,215 and $378, respectively, to account for Sunday comics and             
          significant events issues.  Overall, Mr. Hughes valued the                  
          Chicago Tribune newspapers at $7,866.  Adding the three groups              

               18Conversely, Mr. Verb determined a value for Sunday comic             
          sections for the Los Angeles Examiner issues from 1907 through              
          1918.  However, the description of the Los Angeles Examiner in              
          the first stipulation of facts does not contain a reference to              
          Sunday comics for the years 1907 to 1918.                                   




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