25 JULY 1925, Page 1

THE CIRCULATION 'OF "SPECTATOR."

It is unusual for a weekly paper to publish its net sales— the number of copies actually paid for—at what is recognized to be one of the slack seasons of the year ; but we have decided to do this. • The periodicity of the fluctuation in sales is welt known, the autumn. and winter circulation being higher than that of the summer. It is gratifying to us that at ;this time of year the signs should be so promising. We append the auditors' report :— . 21 Ironmonger Lane, To the piraclorit of "• ' -- London, E.C. 2, - The' SPECTATOR, - Limited. 18th JUly, 1925. 13 York Street, W.C. 2.

Gentlemen,

'We have.exaMined the Company's accounts and records relating to. the _isstto.of the SPECTATOR for the six weeks ended Pith June, 1925, and certify that the net sales (eiclusive of all free copies), after deducting returns received during the week of each issue, averaged 17,730 per wade. We are,: .. Yours faithfully, • • Annan; Dexter & Co.