Heinl radio business letter (July-Dec 1936)

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12/22/36 I. T. & T. REPORT SHOWS GAINS FOR NINE MONTHS The International Telephone and Tel^graoh Corporation has reported for the first nine months of this year a consoli¬ dated net income of $2,442,140, which was equal to 38 cents each on 6,399,002 capital shares. This compared with $969,754, or 15 cents a share, correspondingly in 1935. Earnings of the affiliated Spanish National Telephone Company were excluded in both periods in order to make the figures comparable. Net income for the first nine months of 1935 included $2,428,069 income accruing from the Spanish subsidiaries, making net income $8,397,823, or 59 cents a share on I. T. and T. capi¬ tal shares. XXXXXXXXX MARK J. WOODS ELECTED TREASURER OF NBC David Rosenblum resigned December 18th as Vice-Presi¬ dent and Treasurer of the National Broadcasting Company, effect¬ ive December 31. His resignation was presented to the Board of Directors at its regular monthly meeting and was accepted with regret. Mark J. Woods, who has been affiliated with NBC since its organization in 1926, and has served in several executive capacities, was elected Treasurer, effective January 1, 1937, Mr. Rosenblum Joined NBC as a Vice-President on September 21, 1934. He was elected Treasurer on January 19, 1935. Before joining the network, Mr. Rosenblum was Executive Vice-President of Tradeways, Inc. , which had served NBC in a consulting and advisory capacity for the previous two years. XXXXXXXX PRALL TO READ ROOSEVELT'S MESSAGE TO MUTUAL Commissioner Anning S. Prall, Chairman of the Federal Communications Commission, will read president Roosevelt's mes¬ sage of welcome to the Mutual Broadcasting System on the occasion of Mutual's coast-to-coast expansion, Tuesday, December 29, at 10 P.M. , EST. The message from Washington will open the first dedicatory program in honor of Mutual's expansion to the West Coast through the affiliation of the Don Lee network. Following the Commissioner's message, Alfred J. McCosker, Chairman of the Board of Mutual, and President of WOF , and W. E. Macfarlane, President of Mutual, will formally accept the President’s and Commissioner's greetings. XXXXXXXX 10