�ONE MORE UNFORTUNATE.��The Picayune is
no more. Its publisher struggled hard and man-
fully to avert this result, but he had made suffi-
cient sacrifices for the good of the public, and like
a sensible individual declined to submit to further
loss. Since the death of William H. Levison, its
former owner, considerable capital has been swal-
lowed up by its publication, notwithstanding the
vigor and spirit with which it was conducted.
The Picayune was started as an advertising sheet,
and was circulated gratuitously: but subsequently
it joined the ranks of the regular journalistic army.
While under Mr. Levison�s control, it was exceed-
ingly profitable�never more so than at the time of