The reference to "Jeff and Johnson" and July 4th refers to an upcoming heavyweight prize fight, between James J. Jeffries and Jack Johnson.
The Philadelphia Inquirer, June 13, 1910, page 8:

A  Newspaper  by  Telephone

    Hungary has for sometime rejoiced in a telephone newspaper--a system by which any subscriber calls up central and gets the bits of news and gossip he wants or has time to hear. Chicago is now invaded by the Hungarian proprietor, and it is said that a million dollars has been subscribed to put the scheme afloat there. The idea is to condense the news to short sentences and charge four cents a day for the service, including a phonographic concert at lunch.
    It may be that there are some people in Chicago who will be willing to put up with this sort of thing, but we doubt it. Imagine, if you please, such a system in vogue and the results which would follow! We are now in the throes of a great national crisis and the people are waiting with bated breath for the Fourth of July. Is it possible that any patriotic American man would be willing to dispense with the ordinary newspapers with their full accounts of the doings of Jeff and Johnson? Not at all. No more than he could do without a cartoon or his wife without a column of recipes for baking pies or directions for making over last year's gowns into new suits.
    Then imagine the American women doing without the pleasure and profit of reading advertisements! You cannot imagine it. So that it is apparent that if the telephone newspaper comes into vogue it must be as an auxiliary to the present press. But just how it is to be arranged without disturbing the peace of families and the course of business no man can find out. They do things differently in Hungary than in Illinois and we doubt if the transplanting of this marvelous flower of the East into the region of cliff dwellers by the Lake will result in anything more than disaster.