NAB reports (Mar-Dec 1933)

bank’s officials, and the station therefore would be anxious to receive any ideas available as to what might be done in the way of a bank program. It might be that the program of the first station would be ideally suited to meet the problem. If the two stations could be brought together, therefore, both would profit. The one station would sell the other its program, while the other would have found the program which it needed. A clearing house which would search out program ideas which stations were willing to offer for the use of other stations, for a consideration or otherwise at the station’s own option, which would make available to the member stations of the NAB information regarding programs so offered, which would act as an agency for bringing the two interested parties together, and which would handle requests on the part of stations regarding the availability of programs of certain kinds in a similar fashion, it was believed by the Commercial Section and Program Committee, would be of great value to the broadcasting industry. In keeping with this plan a program clearing house is being established immediately by the NAB. The clearing house will publish in the weekly bulletin information regarding all programs which have been sent to it by stations. The information published will include a summary of the program idea involved, together with other pertinent information regarding it. The NAB program clearing house will not handle any continui¬ ties itself. It will merely transfer request for further information to the station originally offering the continuity, leaving it to the executives of the two stations to effect a satisfactory arrangement among themselves. The clearing house likewise will publish in the weekly bulletin the requests of stations for information regarding the availability of programs of certain types. Any offers of continuities resulting from these requests likewise will be forwarded to the station seek¬ ing information. The clearing house is but the beginning of a comprehensive plan of program service on the part of the NAB. Other items included for later consideration are matters such as studies of program costs, talent costs and sources, programs for special uses such as depart¬ ment store programs, community cooperation programs, program aspects of station promotion and similar features. Stations having programs which they wish to make available to the clearing house are requested to do so immediately, giving the following information regarding each program: 1. Name of program. 2. Brief description of its general nature. 3. A copy of one or more sample continuities. 4. Any additional information regarding the development of the program’s idea which you may care to add so that a clear picture of the program may be possible. 5. Number and type of characters required. 6. A brief history of the success achieved by the program, in¬ cluding the type of sponsor using it, the type of product advertised, and any information available as to its effectiveness. It is believed that the creation of a program clearing house, and later a comprehensive program service by the NAB, will be of marked assistance to the industry. Not only will it assist individual stations in meeting trying problems, but it should aid in bringing about a general increase in program standards. As in the case of the statistical service, the effort will require the support of every station if it is to be a success. It is the intention of the NAB to institute this service, and if it is supported by the industry, to continue it and to expand it. Failing support, the clearing house and contemplated service will be immediately abandoned. SECURITIES ACT REGULATIONS The Federal Trade Commission on July 6 approved the rules, regulations and forms for the administration of the Securities Act of 1933 which vitally affects broadcast advertising of securities. Several weeks ago the NAB sent to its members copies of the act, punched for insertion in the NAB HANDBOOK. An order has been placed for copies of the regulations and just as soon as these are available they will be sent to the entire membership also properly punched for the HANDBOOK. In approving the rules under the act the Commission had regard “for the public interest and for for the protection of investors, but endeavored to place no undue burden either upon general business or upon honest and reputable dealers.” “The act prohibits the filing of a statement prior to July 7 and requires that it be on file at least 20 days before a security may be sold under the act,” says the Commission’s statement. “Realizing that many issuing companies distantly situated from Washington have been unable to obtain forms and prepare the statements re¬ quired on July 7, the Commission promulgated a rule providing that such companies might file in such form as that might rea¬ sonably consider to be in compliance with the act, “provided that an amendment to such registration statement shall be filed at least ten days prior to the effective date, in the required form prescribed by the Commission and shall contain full, accurate and complete information in respect of each item thereof.” Registration statements as received, with all information con¬ tained therein, will be available for public inspection at the Com¬ mission’s offices in Washington. Photostatic or typewritten copies will be furnished at a nominal sum per page. Registration statements and all other papers required therewith are to be filed in triplicate, the date on which they are actually received to be the date of the filing thereof. The maximum aggregate price at which securities are proposed to be offered is to be stated, and payment is to be made of registra¬ tion fee of one one-hundredth of one per centum based upon such price, the fee not to be less than $25. Five copies of the form of advertising prospectus proposed to be issued with reference to a security shall be filed along with the registration statement. The Commission is to be notified of the price and date to be inserted in the prospectus prior to the date of the public offering. Where a prospectus consists of a radio broadcast it shall be re¬ duced to writing, five copies of which shall be filed with the Commission at least five days before the matter is to be broad¬ cast or otherwise issued to the public. There shall be inserted in a conspicuous part of advertising prospectuses, a statement the language of which is prescribed by the Commission, showing that “neither the fact that such registra¬ tion has been filed with the Commission, nor the issuance of this prospectus under the rules or regulations prescribed, shall be deemed a finding by the Commission that this prospectus is true and accurate on its face, or omits to state a material fact or to mean that the Commission has in any way passed upon the merits of, or given approval to, such prospectus or the security men¬ tioned therein.” The rules and regulations as approved today apply only to Title I of the act which provides for regulation of securities, particularly the registration thereof. No reference is made to Title II, the “Corporation of Foreign Bondholders Act, 1933,” which is not to take effect until the President finds “that its taking effect is in the public interest and by proclamation so declares.” The effective date is July 27. The Commission desires to point out that most of the rules and regulations are explicitly required by the Securities Act. In some matters the Commission has discretion, and the rules and regulations in relation thereto are experimental pending actual working ex¬ perience with the new Securities Act, and will be subject to revision from time to time as experience proves the advisability of changes. TELEVISION DEVELOPMENT PROGRESSES A paper presented to the eighth annual convention of the Insti¬ tute of Radio Engineers, recently held in Chicago, by V. K. Zwory¬ kin of the RCA-Victor Company, gave a preliminary outline of work with an electric eye — Iconoscope — as a pick-up for television and similar applications. It required ten years to bring the original idea to its present state of perfection. The iconoscope is a vacuum device with a photo-sensitive sur¬ face of a unique type. This photo-sensitive surface is scanned by a cathode ray beam which serves as a type of inertialess com¬ mutator. A new principle of operation permits very high output from the device. The sensitivity of the iconoscope, at present, is approximately equal to that of photographic film operating at the speed of a motion picture camera. The resolution of the iconoscope is high, fully adequate for television. The paper described the theory of the device, its characteristics, and the mode of operation. In its application to television the iconoscope replaces mechanical scanning equipment and several stages of amplification. The whole system is entirely electrical without a single mechanically moving part. The reception of the image is accomplished by a kinescope or cathode ray receiving tube, described in previous papers. The tube opens wide possibilities for application in many fields • Page 82 ■