The talking machine world (July-Dec 1926)

116 THE TALKING MACHINE WORLD December 15, 1926 Columbia Graphophone Co., Ltd., Bids for Minority Stock of American Company Move Is in Line With Progressive Policy of Columbia Graphophone Co., Ltd., of London, of Consolidation of International Interests — Expression of Confidence in the Industry In line with its progressive policy of a consolidation of international interests, the Columbia Graphophone Co., Ltd., of London, has sent out a notice to stockholders of the Columbia Phonograph Co., Inc., ofTering to purchase the outstanding minority shares of the Columbia Phonograph Co., Inc., on the basis of either of the following options: (1) the issue by the Columbia Graphophone Co., Ltd., of four of its ordinary 10-shilling shares, valued at 50 shillings and credited as fully paid and non-assessable, for each share of minority stock; or, (2) the payment by the Columbia Graphophone Co., Ltd., of the sum of $45 for each share of minority stock. The Columbia Graphophone Co., Ltd., owns a controlling interest in Columbia (International) Ltd., a combine made up of the Columbia Phonograph Co., Inc., of New York, the Carl Lindstroem A. G. of Berlin and the TransOceanic Trading Co. of Holland and their subsidiary companies. Acceptance of the ofTer by holders of the minority stock is to be made by depositing such stock with Messrs. J. P. Morgan Co., 23 Wall street. New York, as depository of the Columbia Graphophone Co., Ltd. The minority stock amounts to 31,524 shares; the balance, 51,000 shares, is owned by the Columbia (International) Ltd. The directors of tlie Columbia Graphophone Co., Ltd., intend asking shareholders to authorize an increase of the capital of the company with a view to carrying out not only this ofifer but also to enable the company to negotiate for and acquire interests in other companies and thus further consolidate its posi tion in the principal markets of the world. The sales of the' Columbia Graphophone Co., Ltd., in the si.x: months ended September 30, 1926, despite the abnormal conditions existing in England due to the coal strike, were larger than in the corresponding period of 1925. It is considered that the earnings of the various companies for the fiscal year ending March 31, 1928, based upon the present earning power of such companies, should be sufficient to enable the Columbia Graphophone Co., Ltd., to maintain its present dividend rate of 40 per cent (or approximately the equivalent of 76 cents per share after deduction of the English 20 per cent Income Tax) on the increased number of its ordinary shares to be outstanding. Annual dividends on such ordinary shares (which will be entitled to dividends thereon declared for the next fiscal year commencing April 1, 1927, and thereafter) at the current rate would amount to the equivalent of approximately $3.04 (free of English 20 per cent Income Tax) for each four shares. The present ordinary shares (entitled to dividends for the current fiscal year if and as paid in ordinary course in December, 1926, and June, 1927) have a market value at current London quotations equivalent to over $54 for each four shares. Columbia (International) Ltd. has established recording laboratories, or factories, or both, in every important national market. The United States, England, Germany, France, Italy, Austria, Spain, Australia, Canada, Sweden, Holland, Switzerland, Brazil and the Argentine are so covered. A Pacific Coast factory for the United States has recently been purchased and is now in full production. If FV'^ GRAPHITE PHONO kl,JM^Lj m. J SPRING LUBRICANT lUley's Lubricant makes the Motor make good. It prepared in the proper conaiatenc^, will not run out, dry up or become aticky or rancid. Remaint in its original form indefinitelj Put up in 1, 5, 10, 25 and 50-poiud cans for dealers This lubricant ia also put up in 4-ouncr cam to retail at 25 cents each under the trade name of FIIRFKA NOISELESS TALKING MACHINE LUBRICANT Write for special proposition to tohhen ILSLEY-DOUBLEDAY & CO.. 229-231 Front St.. NewYork Tliis further step in the consolidation of international interests is of especial moment at this time, as the American company, Columbia Phonograph Co., Inc., has just acquired the Okeh and Odeon record business of the General Phonograph Corp. The directors of the Columbia Graphophone Co., Ltd., are all men whose names are well known in European financial and art circles: Sir George Croydon Marks, C. B. E., is chairman of the board of directors; Michael Herbert, Sir Arthur C. Roberts, K. B. E., H. L. H. Hill, Edward De Stein and James Van Allen Shields are members of the board; Louis Sterling is managing director. A. D. Silva Elected VicePresident of Farrand Go. A. D. Silva has been elected vice-president in charge of engineering of the Farrand Co., maker of Farrand speakers and battery eliminators, C. L. Farrand, president, recently announced. Mr. Silva brings to his new post a wealth of experience, having been chief engineer of the Atwater Kent Mfg. Co. for a number of years and having been for ten years connected with the General Electric Co. as transformer engineer. He served as a captain in the Signal Corps during the war and was stationed at the research laboratories in Paris, where he did notable work. HELYCON Motors, Tonearms and Reproducers SUPERIORITY INTERNATIONALLY RECOGNIZED Helycon Motors Helycon Motors are rugged and substantial in construction. They are designed to reduce the number of wearing parts to the minimum required for a smooth, silent drive, thus ensuring long, constant and consistent performance without periodical adjustments or replacement of parts. Helycon Motor No. 2 Helycon Motors The spring barrels can be removed without disturbing the fine adjustment of the motors, and any group of gears can be removed without disturbing any other part. The Helycon Motor is made in four types, with interchangeable parts, to meet every phonograph requirement. POLLOCK-WELKER, LIMITED KITCHENER, ONTARIO, CANADA Established 1907 Cable Address: Polwel, Kitchener. Code: A. B. C, 5th Edition, Bentley's