NAB reports (Jan-Dec 1934)

DEPRECIATION RATES STUDIED HOUSE CONSIDERS F. R. C. APPROPRIATION Information requested by the Internal Revenue Bureau for the purposes of formulating a schedule of depreciation rates for broad¬ casting station equipment is now being compiled by E. M. Elkin, KDKA, chairman of the NAB Tax Committee, and the Managing Director. A meeting was held in Pittsburgh last Sunday and an¬ other meeting to finish the report is scheduled for New York Tuesday. The Bureau is urging haste, and it is expected the report will be filed next Wednesday. BANKERS CODE LIFTS RESTRICTIONS The Banking Code Committee representing the American Bank¬ ers Association has issued a memorandum removing the prohibition against radio advertising which was contained in the Manual for Regional Bankers NRA Committees. This provision was made the subject of a protest filed by Philip G. Loucks, Managing Director of the National Association of Broadcasters, with the National Recovery Administration. “This was not the intention of the Banking Code Committee, and we feel certain that the majority of bankers will correctly construe the reference in the Manual on the subject of advertising media,” Frank W. Simmonds, secretary of the Banking Code Com¬ mittee, stated in a memorandum to secretaries of state bankers associations and clearing house associations. “On the other hand, it of course does not lie within the proper province of the Banking Code Committee to say to banks that they shall use any particular media. This is a matter which must in each instance be decided by the individual bank or by the local clearing house group which under the terms of the Code are permitted a very wide latitude in self-government while being required to adhere to the fundamental principles of the Code. In any event, please be advised that the reference in the Manual for Regional Bankers NRA Committees should not be construed as banning the use of calendars and other legitimate advertising media by banks.” LEGISLATURES ADJOURN The 1933 regular session of the New Jersey Legislature adjourned on January 9, 1934, and the regular 1934 session convened on the same day. The first special session of the 1933 Minnesota Legisla¬ ture adjourned on January 6. LIQUOR ADVERTISING BILL HITS SNAG The McMaster bill (H. 931) to permit newspapers, billboards, radio broadcasts, and all other mediums of advertising to advertise beverages allowed to be sold according to law was recommitted to the Judiciary Committee by the South Carolina House on Jan¬ uary 9. The Senate had previously passed the bill, with amend¬ ments. F. R. C. ANNUAL REPORT AVAILABLE The Seventh Annual Report of the Federal Radio Commission was received by Congress this week. The report reviews the work of the Commission during the fiscal year ended June 30, 1933, but contains no rcommendations for new legislation. “The prediction made in the Commission’s last report that the very high frequencies would be the final locus for visual broad¬ casting appears to be justified,” says the report. “A number of licensees have given up their licenses specifying the lower frequen¬ cies and others have stated that they were satisfied that the lower frequencies were unsuitable, but desired to continue research in these bands for a short period to complete certain problems in progress. “The quality of pictures, which it has been demonstrated is possible to transmit on the very high frequencies, has steadily increased, and some laboratory productions are capable of holding sustained interest. Pictures need no longer be confined to ‘close ups,’ but larger scenes may be transmitted. The art, however, has not as yet progressed to a stage which would justify the adoption of standards by the visual broadcasting industry. Although much progress has been made in the laboratory, visual broadcasting is still in the experimental stage.” Copies of the report are for sale by the Superintendent of Docu¬ ments, Washington, D. C. The cost is 15 cents per copy. The House of Representatives this week in taking up the inde¬ pendent office supply bill included the appropriation for the Federal Radio Commission for the fiscal year beginning July 1 next. The total appropriation for the Commission for the coming year as provided for in the bill was $666,885. The appropriation for this year was $640,000, making an increase of $26,885. This, it was explained to the House Appropriations Committee by Judge Sykes, chairman of the Commission, includes the 5 per cent increase in salaries effective July 1 next for employees of the Commission. SECURITIES ACT REGISTRATION The following companies filed registration statements with the Federal Trade Commission under the Securities Act during the current week: Crowley, Milner and Company Debenture Holders Reorganiza¬ tion Committee, Detroit, Mich. (2-540). Dawes Gold Mines, Inc., Lovelock, Nev. (2-541). Mariposa Gold Mining Company, San Francisco, Calif. (2-542). Neustadtl Brewing Corporation, Stroudsburg, Pa. (2-543). Western Dairies, Inc., Los Angeles, Calif. (2-544). Western Dairies, Inc., and Voting Trustees for Common Stock of Western Dairies, Inc., Los Angeles, Calif. (2-545). Alaska Exploration & Mining Co., Ltd., Inc., Pullman, Wash. (2-546). International Gold, Inc., Pasadena, Calif. (2-547). Bear Gulch Placer Company, Washington, D. C. (2-548). Stephenson Hotel Corporation, Hotel Freeport, Freeport, Ill. (2-549). Nation-Wide Securities Company, Baltimore, Md., and Jersey City, N. J. (2-550). Committee for the Protection of Preferred Stockholders of Pressed Steel Car Company, McKee’s Rocks, Pa. (2-551). Max McGraw and Others, Chicago, Ill. (2-552). Diversified Royalties, Ltd., Los Angeles, Calif. (2-553). Dodge Cork Company, Inc., Lancaster, Pa. (2-554). J. A. Auchter, et al., Milwaukee, Wis. (2-555). Norman F. Lighthart, et al., Evanston, Ill. (2-556). American Beverage Corporation, New York City (2-557) Bondholders’ Protective Committee for Fifth Avenue Realty Corporation, New York City, N. Y. (2-558). Affiliated Distributing Group, Inc., Jersey City, N. J. (2-559). Production Control Machines Corporation, Wilmington, Del. (2-560). Continental Distillers & Importers Corporation, New York City (2-561). Tonawanda Brewing Corporation, Tonawanda, N. Y. (2-562). Mica Corporation, Chicago, Ill. (2-563). Kentucky Consolidated Gas Company, Baltimore, Md. (2-564). Arizona Gold Manganese Company, Phoenix, Ariz. (2-565). Newark Mortgage Company, Newark, N. J. (2-566). Beverages, Inc., Boston, Mass. (2-567). Down Town Realty Company, Milwaukee, Wis. (2-568). Down Town Realty Company, Milwaukee, Wis. (2-569). Soaring Plane Corporation, Los Angeles, Calif. (2-570). Queen City Textile Corporation, Allentown, Pa. (2-571). Appleton Building Company, Milwaukee, Wis. (2-572). Tiger Placers Company, Tiger, Colo. (2-573). Cole Gold Mines, Ltd., Red Lake, Ontario (2-574). Page 272