of vertical price fixing. The Globe-Democrat had operated since 1959 under the protection of the Newspaper Preservation Act, under which papers must show proof of irreversible financial losses before closing. The Post-Dispatch, owned by the Pulitzer Publishing Company, handled all printing and publication for both papers. Advertising was sold jointly, and profits were shared equally. In St. Louis, the morning advantage was reduced by the terms of the joint operating agreement entered into by the two papers in 1959 and expanded in 1969 and 1979. The papers shared all business and advertising functions, with only the news functions separate. Until the last fiscal year, the Post-Globe agency, as the joint operation was known, operated in the red. The agency was said to be making a marginal profit that year. In August 1986 the paper filed for Chapter 11 bankruptcy protection. At the time the newspaper listed $8 million in debts. In December the newspaper suspended publication. In January 1986 Veritas Corporation purchased the paper for $500,000. Veritas, formed by businessmen John B. Prentis and William E. Franke committed to contribute $4 million to the newspaper's operations. The Globe-Democrat ended publication in October after the newspaper failed to secure a necessary $15 million loan from the state of Missouri. An attorney had challenged the legality of the state's ability to grant that particular bond package, passed in the state legislature earlier that year. The Globe-Democrat Building at 710 N Tucker Blvd, now known simply as the Globe Building in downtown St. Louis is still used for offices and data centers by various businesses and organizations on a rental basis. This building was built in 1931 and designed by St. Louis firm Mauran, Russell & Crowell. Some elements of the building were preserved by the National Building Arts Center. The Globe-Democrat'''s morgue of articles and photographs is housed in the St. Louis Mercantile Library at the University of Missouri–St. Louis (UMSL). Since 1993 the St. Louis Globe-Democrat has been published as a history and nostalgia paper. This publication was founded as the St. Louis Inquirer in 1986 and later acquired the Globe-Democrat name. Notable people Eunice Gibbs Allyn Alice B. Tweedy Rose Marion Boylan (ca. 1875-1947), feature writer Rosa Kershaw Walker (ca. 1870s-1880s), society section writer See alsoSt. Louis BeaconSt. Louis Sun'' External links St. Louis Globe-Democrat Collection finding aid at the St. Louis Public Library References 1852 establishments in Missouri 1986