THE STORY OF THE `PINK `UN'

1888: Launched by the partnership of Jas Sheridan and brother. Ownership passes the same year to McRae, Curtice and Company, and then to Douglas McRae alone. Leopold Graham is editor for the first 6 months, McRae taking up that post also in 1889.

1890: The editorship passes in rapid succession to WR Lawson, Sydney Murray (1892), and then to AE Murray (1896).

1893: Printed for the first time on pink paper.

1905: Shipowner Sir John Ellerman emerges as the major shareholder.

1909: CH Palmer becomes editor.

1919: William and Gomer Berry, owners of the Sunday Times, buy the title.

1924: DST Hunter is appointed editor.

1932: Circulation drops dramatically to 19,121, from 31,441 in 1928.

1937: William Berry, now Lord Camrose, becomes the sole proprietor, and chooses Archie Chisholm as editor. Circulation rises again to 30,380.

1940: AG Cole, who presides over a decline in circulation to 12,050, is appointed editor.

1945: Cole is succeeded by Hargreaves Parkinson, as the title is bought by the Eyre Trust and merged with its rival of 60 years, the Financial News. By 1947, circulation rises to a new high of 68,305.

1949: The editorship goes to Gordon Newton.

1951: Graphic designer Abram Games creates the celebrated poster advert featuring a "walking newspaper", with pin-striped trousers, rolled-up umbrella and briefcase.

1957: The newspaper is bought by its current owners, Pearson.

1959: Having risen continuously since 1950, circulation crashes through the 100,000 barrier and rises to 172,000 by the end of the Sixties.

1973: Fredy Fisher becomes editor.

1979: Having veered between 170,000 and 194,000 during the Seventies, circulation reaches 204,599, and a Frankfurt edition is launched.

1981: Geoffrey Owen appointed editor.

1983: New ad campaign, with the successful "No FT ... no comment" slogan.

1985: International expansion continues with the launch of a New York edition.

1986: Circulation leaps to 252,895, from 231,514 the previous year, and continues to increase into the Nineties.

1991: Richard Lambert becomes editor.

1995: Circulation stands at around 295,000. The edition of Saturday 20 April refers to itself as the Weekend FT, in anticipation of competition from Tom Rubython's new Sunday Business title.