[Transcriber's Note: Extensive research did not uncover any evidence that the U.S. copyright on this publication was renewed.]
A SAD, SAD STORY
Once upon a time, a year ago last summer, to be more specific, I had money to burn, but rather than burn it, I decided to launch an attack upon the fantasy-loving public in the form of a fan magazine. You've guessed it—the result was none other than THE FANTASY FAN. I placed enough capital in the venture to start it off. Needless to say, I was disappointed with the results, as far as circulation goes—it's always that way. Inexperience with the publishing game allows for pretty pictures of people just dying to send in their dollars to your new magazine, but the cold facts certainly throw ice-water on air-castles. Experience shows that a publisher must fight for every subscription. It is filled with disappointments and hard knocks. After all, magazines are luxuries, particularly fiction magazines, and even more particularly fan magazines—and people can't afford luxuries during times when they can just about secure money enough to live on. Fantastic fiction magazines have never been huge successes with the general public, whose average intelligence is that of a moron. The lovers of fantasy have a higher type of intellect, and are therefore very few in number. I doubt that there are 150,000 people in this country of 125,000,000 who can really appreciate the science and weird fiction that is published in contemporary magazines. They are what you call 'class' publications. And not one reader in five hundred of these fantasy magazines is the least bit interested in the "fan" angle—but those of them that are are loyal to the last. Each of them is worth fifty ordinary readers. They are the only ones that are interested in the fan magazines, so you can see why the aforementioned fan magazines will never boast of circulations comparing with Liberty or the Saturday Evening Post or pay $500 for a cover illustration. Therefore, the only way to keep fan magazines is to secure every available active fan, those rare specimens, and keep them together in one big family. Of course, a few more spring up every here and there when otherwise normal people discover that there is such a thing as fantasy fiction and fan magazines.
What I started out to say was that I had money to burn when I organized THE FANTASY FAN and didn't mind it running in the red for a year. And so it has. And so it continues. I kept putting money in, and putting money in, never taking a cent out—never regretting the loss (nor do I today, nor consider it loss). I have enjoyed sacrificing hundreds of dollars (and that's not sarcasm) and devoting much of my time to gathering and assorting material for each issue.
But—and here's the reason for all this quibbling—domestic circumstances now prevent from taking any more money from my own pocket to donate to the cause, and the only way that THE FANTASY FAN can continue publication is to pay for itself. Of course, the circulation has gone up way past the mark where it half pays for the issue, certain months—due to advertising in Wonder Stories Science Fiction Swap Column under cover and the mention that Farnsworth Wright gave THE FANTASY FAN is in the Eyrie in the September 1934 issue of Weird Tales, not to speak of the co-operation of the readers we already had—but that is not enough. Now, my printer is a very nice fellow and prints THE FANTASY FAN for a very low price that cannot be duplicated anywhere, and it really does not cost so much to run TFF, when compared to the more professional magazines. I can guarantee you one thing, though: if every reader we now have would subscribe (if he has not already done so) and secure at least one new subscriber, we could continue monthly publication indefinitely.
So, if you really like our little publication, will you do your best to help bring in the subscriptions? The next issue will be published in anywhere from three weeks to two months, depending entirely upon cash receipts. And here is an amazing fact—every dollar sent in actually brings the next issue days nearer publication. What do you say? Wouldn't you hate to see THE FANTASY FAN break off publication, and right in the middle of Lovecraft's article, too? I know I would. It's become one of the family with me and if anything should happen to it, I believe I'd put a crepe on the door.
Your Sincere Friend,
THE EDITOR