In the late 1860's journals began to appear among general fraternities. Delta Upsilon at last started one, with sporadic issues of Our Record from 1867 to 1870. There was a large amount of moral support for the publication, but the chapters either ignored or forgot their financial obligation to the magazine's production. After much debate and much frustration on the part of Henry R. Waite, Hamilton 1868, one of the first editors, production ceased following the 1870 Convention.
More than a decade passed before the Fraternity again seriously considered publishing a magazine, though it had become more apparent each year that some type of magazine was essential. Sentiment in this direction was very effectively presented at the 1881 Convention, at which time the delegates voted to establish a magazine with the editorship to rotate among the chapters.
The idea of a rotating editorship in order of chapter seniority provided a very dubious foundation for success. Even so, it was a much more favorable situation when Alexander D. Noyes, Amherst 1883 offered at the 1882 Convention, on behalf of his chapter, to undertake the task of issuing a quarterly magazine. Aided by several members of the Amherst Chapter, Noyes produced the first issue of the Delta Upsilon Quarterly, on December 22, 1882.
The idea of a rotating editorship did not last. At the 1883 Convention, Brother Noyes argued successfully that the editing and publishing of the magazine be placed in the hands of a board composed of both alumni and undergraduates, with the board being elected annually by the Convention.
The editorship moved to Rossiter Johnson, Rochester 1863, with an associate editor from each chapter. Frederick M. Crossett, New York 1884 was hired as the business manager, becoming chief editor from 1886 to 1892. In 1886, the magazine had about 600 subscribers, with total expenses of $806.61. When Crossett retired from the editorship in 1893, he was succeeded by Wilson L. Fairbanks, Tufts 1887. Fairbanks felt strongly that "more frequent issues, say monthly, mean more live matter, greater influence as a fraternity organ, and probably greater circulation as a corollary. From a business standpoint it would mean more advertising, probably sufficient to meet any increased expense of publication."
Fairbanks' ambitious goal of a monthly magazine was not immediately realized. In fact, advertising revenue experienced a decline because advertisers were reluctant to spend their money for advertising space in a periodical with a constantly fluctuating circulation. These problems led to careful consideration of the situation by the 1893 Convention, which responded by amending the Constitution in the interests of a larger and better Quarterly. Every active member of each chapter was required to subscribe to the magazine and to make payment to the Executive Council as part of a per capita tax. This revenue was turned over to the editor for publication of a magazine to be issued at least quarterly, and to be known as the Delta Upsilon Magazine. The Delta Upsilon Magazine made its appearance from March 1894 to April 1896, when Fairbanks, unable to take sufficient time from his own work on the New York Times, offered his resignation to the 1896 Convention. The Executive Council then appointed Thornton B. Penfield, Columbia 1890 as editor-in-chief. The magazine then reassumed the title of the Delta Upsilon Quarterly.
Penfield's tenure was both profitable for the fraternity and artistically successful, but in 1901, he resigned, paving the way for Goldwin Goldsmith, Columbia 1896 to take the reins as editor. Goldsmith made great improvements in the magazine. The number of pages per year increased from 200 in his first year to almost 500 seven years later. The number of subscribers also increased markedly from 336 to 1,102 during the seven years that Goldsmith was at the helm.
In 1906, Goldsmith was elected to the Executive Council and editing duties transferred to William O. Miller, Pennsylvania 1904. Miller occupied the post for four years; during which time the number of alumni subscribers reached almost 4,000. It was during this time though, that many alumni did not pay their obligation to the magazine and accounts payable grew beyond the financial capabilities of the magazine. Sheldon J. Howe, Brown '08 became Miller's successor, and succeeded in balancing the magazine's budget. Howe proposed that back debts be paid and that "either the price of the magazine be raised or else that a drive be made for greater advertisements. In the end, the alumni subscription was doubled from $1 to $2, with the undergraduate rate staying at $1.50. Walter Q. Wilgus, Michigan '12 then became general editor for a brief period, who was succeeded in 1915 by Walter P. McGuire, Minnesota '04 whose term also scarcely exceeded a year. After this series of rapid changes, the Fraternity was fortunate enough to recruit the services of Herbert Wheaton Congdon, Columbia 1897. During Congdon's tenure, several important changes were made in the magazine's management. The most notable change came in 1917, when the By-Laws were amended to provide each alumnus a subscription to the magazine so long as he paid his annual tax of $3. It was a most effective expression of the importance of retaining alumni interest in the Fraternity through the magazine. In the spring of 1923, Congdon retired. From then until January 1925, Frank W. Noxon, Syracuse 1894 published the magazine with help from Harvey R. Cook, Rutgers '23.
Noxon and Cook served temporarily until a permanent editor could be found. The Board's search induced Carroll B. Larrabee, Brown '18 to become the new editor, beginning with the January issue of 1925. With Larrabee's appointment, the magazine entered an unprecedented span of 45 years during which two men would head the magazine. Larrabee's term of almost 23 years was followed by an almost identical time period from 1947 through 1969, when Orville H. Read, Missouri '33, edited the magazine.
Read's resignation as editor in 1969 was timed to coincide with his retirement as President of the Fraternity. Arthur E. Auer, Western Michigan '65 who served in that capacity for three years until a change in business employment compelled him to resign, filled his editorial chair. Since January 1973, the Executive Directors and staff at the International Headquarters had edited the Delta Upsilon Quarterly.