Weekly television digest (Jan-Dec 1963)

10— TELEVISION DIGEST FEBRUABY 25, 1963 Trade Personals Dr. Alexander Ellett appointed Zenith special projects vp, a new post, succeeded as research vt) by Dr. Robert Adler; Dr. Bertrand Miller named asst, research dir., Erwin M. Roschke asst. dir. & administrative mgr. of research, both new posts. Ross Siragusa Jr,, formerly sales \tj of Admiral Sales Corp. which has been dissolved, named Admiral sales vp; Carl Lantz, Sales Corp. pres., becomes Admiral mktg. vp. Frank B, Rogers Jr. resigns March 9 as Reeves Soundcraft exec, vp, will continue as consultant; John S. Kane appointed \p-gen. mgr. of Magnetic Tape Products Div. C. Harvey Bradley, a P. R. Mallory dir., elected exec, committee chmn.; Charles A. Barnes, administrative vp, elected a dir. Elections fill vacancies created by Feb. 12 death of Joseph E. Cain in plane crash (Vol. 3:7 pll). William E. Knox named Westinghouse Electric International chmn., succeeded as pres, by Jose de Cubas. John J. Scanlon, AT&T planning & revenue vp, also named treas., succeeding L. Chester May who resigns Feb. 28. Sol Sparer elected pres. & chief exec, officer of Pacotronics Inc., Glendale, N.Y. maker of hi-fi kits & other electronic instruments and test equipment, succeeding Solomon Weingast, who continues as chmn.; Sy Diamond appointed mktg. dir., Victor I. Robinson engineering dir., a new post. John J. Graham, ITT vp & North .American area gen. mgr., and Ted B. Westfall, \p & Latin .America area gen. mgr., elected ITT dirs. Charles C. Ellis, onetime Ford, appointed Philco asst, controller, succeeding T. A. Turner, named Philco Western Development Labs controller. John A. Henning appointed Allied Radio quality standards mgr., a new post . . . Kenneth L. Freeland, exZenith and General Dynamics, joins Symphonic Electronic as national semdee mgr., headquartering at Lowell, Mass. . . . Joseph E. Baker appointed Adler Electronics distributor sales mgr.. Industrial Products Div. J. S. Webb, Thompson Ramo Wooldridge vp, named head of electronic components activities, succeeding Warren B. Hayes, resigned . . . Edmond A. Roelof, ex-Eldon Industries mfg. vp, appointed mfg. \p of Pacific Industries’ Midland Mfg. Co. Div., a new post. Donald A. Strauss appointed Beckman Instruments employe relations vp. F. J. La IManna named pres, of Phillips Electronics & Pharmaceutical Industries’ new Industrial Circuits Co. Div. Obituary George Elmer Pingree, 86, retired 1925-1936 pres, of ITT’s International Standard Electric Corp., renamed from Interaational Western Electric, died Feb. 16 in Portland, Me. after 2 years of failing health. He jomed Western Electric in 1903, served as managing dir. of companj-^s English firm in London from 1909 to 1919, and was \p, dir. & gen. mgr. of International Western Electric when it was purchased by ITT in 1925. Distributor Notes: Emerson Radio appoints 3 new regional managers, all ex-Webcor — Frank Augustin, hq South Bend, Ind.; John Phillips, Houston; Samuel Ball, Kansas City, Mo. Corporate profits “probably reached a peacetime record’’ in 1962’s final quarter, reported Feb. 20 Wall St. Joximal, “and in the current 3 months they seem likely to continue close to that rate.” Aggregate earnings of 538 companies in Oct.-Dec. period rose 11.3% from 1961’s Dec. quarter to $3,609 billion from $3,244 billion. Combined earnings of 24 electronics-electrical equipment firms rose 6.6% to $62.5 million from $58.7 million. Of these, 13 were specialty companies. Their earnings soared 25.7% to $11.2 million from $8.9 million. Other 11 were broad-line companies, and their income gained 3.2% to $51.3 million from $49.7 million. GE billed record sales in 1962 & pasted 2nd-highest earnings (see financial table), Chmn. Ralph J. Cordiner reported. Earnings rose to $265.8 million from 1961’s $242.1 million as sales jumped to $4,793 billion from $4,457 billion. He said 1962 earnings failed to duplicate sales’ record performance because of continuing squeeze between increasing costs & depressed prices. Cordiner said sales of consumer goods & industrial equipment showed healthy gains, but added: “GE products on the average are now selling at price levels that prevailed in the 1953-55 period, in spite of greatly improved product features & performances.” Mergers & acquisitions: .Advance Ross Electronicss Chicago maker of TV components, will be acquired for stock by diversified H. M. Byllesby & Co. if former’s stockholders approve at April 24 meeting. Byllesby presently o^vns 32% of Advance Ross stock, would acquire balance in 1-for-l exchange for Byllesby common • United .Artists will acquire film-producer Mirisch Co. next month for 62,069 shares of Class B common stock • Wometco Enterprises has acquired for stock Shanks Distributing Co., Columbia, S. C., will operate vending & in-plant feeding firm as subsidiary. Republic Corp.’s earnings in 1963’s first fiscal quarter, ended Jan. 26, climbed to approximately $540,000 from $414,696 a year earlier as revenues rose to $11 million from $10.7 million. Chmn. Vincent .A. Carter forecast for total fi.scal year, ending next Oct. 2, per-share earnings of “around 80<* to 85<?” (vs. fiscal-1962’s 56<*) & sales of $45 million (vs. $43.3 million). Part of profit gain, he said, will stem from firm’s leasing agreement with CBS, effective May 1, for Republic’s 70-acre North Holh"wood Studio. Property lost $150,000 for Republic last year, will earn some $90,000 on the lease. Packard Bell Electronics is negotiating to sell $5 million in convertible debentures to Electronics International Capital Ltd., Bermuda-based investment firm headed by Charles E. Salik, Feb. 20 Wall St. Journal reports, adding: “Packard Bell’s long-term debt consists of $1.6 million in mortgages on land & buildings. Its short-term bank borrowings total $11 million.” Packard Bell dropped plans after market drop last year to offer some $5 million in convertible debentures publicly (Vol. 2:20 pl2). Loral Electronics has been listed for trading on New York Stock Exchange. Symbol: LOR.