Weekly television digest (Jan-Dec 1963)

NEW SERIES VOL. 3, No. 18 TELEVISION DIGEST— 11 Trade Personals David SarnofF, RCA chmn. & Frank Stanton, CBS Inc. pres., named to committee of 100 planning dinner for Roger Blough, U.S. Steel chmn., who receives National Conference of Christians & Jews’ brotherhood award May 14 at Americana Hotel, N.Y. Robert S. Alexander terminates chairmanship of Wells-Gardner as board eliminates post at his suggestion “to better identify members of operating management;” he continues as a dir., representing ITT . . . George F. Smith, Magnavox Govt. & Industrial Div. vp-gen. mgr., elected a dir. George D. Hill elected Westinghouse Credit Corp. controller, a new post . . . Harold Goldberg elected Raytheon engineering & research vp . . . Robert A. Marshall named ITT Federal Labs mktg. vp. Paul W. Van Orden appointed sales planning mgr., GE Electronic Components Div.; Charles A. Richardson named field sales operations mgr. Paul E. Brjant, Fisher Radio gen. sales mgr., promoted to sales vp. . . . R. E. Culligan appointed sales promotion mgr. of Minnesota Mining’s Revere-Wollensak Div., a new post; S. C. Prater named division’s consumer products ad mgr. Simon Pomerantz appointed Jerrold Corp. treas. & asst. secy. . . . Joseph W. Gross, former GE receiving tube district sales mgr., joins Du Mont Labs’ Electronic Tube Div. as power tubes sales mgr., a new post. Distributor Notes: Admiral names 2 home entertainment & appliances distributors: Vaugh Electrical Co. of Maine, Portland, for Maine & 2 northeastern New Hampshire counties; Marshall Wells Co., for Fresno, Cal. territory • Motorola appoints Jones Distributing Co., Sioux City, la., to service region formerly served by McKenzie Distributors • Ampex names George S. Shoaf northeastern regional manager for all sales & service activities, succeeded by Thomas W. Harleman as midwestern regional mgr. • Motorola’s Washington, D. C. distributor, Washington Appliance Wholesalers, adds Maryland’s Western Shore area, including Baltimore; Artcraft Electric Supply, Salisbury, Md., adds 12 Eastern Shore counties. The territories formerly were served by Motorola-Baltimore. Major new market for transistors has been opened by Western Europe’s current plans for widespread UHF TV broadcasting, reported Philco Lansdale Div. vp-gen. mgr. Michael W. Newell. He said Philco expects to deliver some 500,000 transistors to European TV set makers this year. Most European countries have passed govt, regulations requiring all-channel TV sets, he noted. Zenith’s famous Trans-Oceanic 8-band portable radio, first introduced in 1941 in tube version (and since transistorized), has been reduced from $250 to $199.95, including batteries, as result of “new technology in transistors and their circuits.” TV set sales in Washington, D. C., for first quarter 196.3 increased to 24,566 from 1962’s 19,780, according to Electric Institute of Washington. Color sales totaled 1,007 (no color figures reported for same 1962 period). Mergers & acquisitions : Advance Ross Electronics stockholders have approved proposal by H. M. Byllesby & Co. to acquire company’s remaining outstanding common stock on share-for-share basis (Vol. 3:13 pl2). Byllesby currently owns 32% of TV components maker’s 707,131 shares • GPE is negotiating to acquire electronic systems manufacturer Radiation Inc., Melbourne, Fla. for some 296,000 GPE common shares. Exchange would be on basis of one GPE share for each 3% Radiation comimon shares • Hewlett-Packard has teamed with Tokyo-based Yokogawa Electric Works to form Yokogawa-Hewlett-Packard Ltd. to produce electronic measuring equipment in Japan. Hewlett-Packard will own 45% of new company, subject to approval of Japanese govt. Packard Bell board has approved sale of $5 million in 5%% 15-year convertible debentures to Bermuda-based Electronics International Capital Ltd. Company also reported conclusion of its last major loss contract through negotiation with Telecomputing Corp. One small loss contract remains & is scheduled for completion in June. Pres. Robert S. Bell said that “reserves set aside at the end of fiscal 1962 are believed more than adequate to cover any losses on the remaining contract.” Packard Bell Electronics’ Home Products Div. increased sales a record 38% in fiscal-1963’s first half, ended March 31, from year ago. Distributor sales climbed 44%. Vp-gen. mgr. Kenneth R. Johnson said sales momentum is continuing, noted that April’s volume in first 3 weeks was at all time high. Chris Craft (formerly NAFI Corp.) reported firstquarter profit decline from year-ago’s $469,240. Pres. John G. Bannister forecast that 1963’s operating profit would top 1962’s $1.4 million. However, because of uncertainty of realizing nonrecurring profit from sale of assets as in previous years, he said he couldn’t predict whether net income would exceed 1962’s $2.1 million. P. R. Mallory, which suffered sales & profit sag in first quarter (Vol. 3:16 pl2), expects total 1963 sales to fall 1-2% from 1962’s record $99.1 million. Pres. G. Barron Mallory also told annual meeting that earnings “may not be as high” as 1962’s peak $5.1 million. He attributed profit squeeze largely to price pressures & rising material costs. Four Star TV earnings in fiscal 1963, ending June 30, are expected to compare favorably with year-earlier’s $1.20 a share. Pres. Thomas J. McDermott said fiscal-1963 will include “substantial write-offs & a special credit.” Revenues will include a $500,000 tax-free insurance payment on life of late Chmn. Dick Powell. Macfadden-Bartell is being sued by Justice Dept, for $95,000 at FTC’s request on grounds that company violated 1960 order prohibiting payment of discriminatory promotional allowances to certain distributors of its publications. Hallicrafters has arranged for $6 million in new financing to retire present short-term loans & to increase working capital. Reports & comments: Metromedia, study, Coggeshall & Hicks, 111 Broadway, N.Y. 6 • RCA & GT&E, comments, Carl M. Loeb, Rhoades & Co., 42 Wall St., N.Y. 5. Reeves Industries Inc. is new name of Reeves Soundcraft Corp., following stockholder approval.