Television digest with electronic reports (Jan-Dec 1954)

13 Canadian Admiral, trying to head off i-ecent wave of price-cutting and “dumping” of TVs, takes full-page ad in 18 leading Canadian newspapers to warn prospective set purchasers: “You can pay too much . . . but you can also pay too little.” Signed by Canadian Admiral pres. Vincent Barreca, ad urges customers to ask themselves: “Is this distress merchandise? Is it repossessed merchandise? Is this TV set one of a discontinued line? Was this TV set set made by a manufacturer now out of business? Is this a stripped down model? The price may seem low — but how about the ‘extras’ you may have to pay?” “Electronic oflSce” is closer to i-eality with the International Business Machines Corp. demonstration of its new computer, “702,” designed especially for use by business and industry. Details of new “brain” were outlined for first time on closed-circuit telecast from IBM labs in Poughkeepsie, N. Y. to 1300 of company’s salesmen in New York’s Waldorf-Astoria Hotel. Although deliveries aren’t scheduled until early next year, about 30 of the devices have already been ordered, at monthly rentals to average about $25,000. So far, insurance companies constitute biggest category of customers. General Instrument Corp. forms Canadian subsidiary, General Instrument-F. W. Sickles of Canada Ltd., and buys Watt Electronic Products plant in Kitchener, Ont. GI pres. Monte Cohen said Canadian firm will manufacture deflection circuit components, TV tuners, converters, transformer windings and ultimately transformers. Hugh T. Watt remains in charge of manufacturing, reporting to Edgar Messing, v.p. of GI’s F. W. Sickles div., Elizabeth, N. J. At last, a noiseless piano — through the magic of electronics! Rudolph Wurlitzer Co., Chicago, this week announced electronic piano, portable and weighing less than 80 lbs., due for production next fall. It never gets out of tune, say the Wurlitzer people, and normally sounds just like a regular piano — but it also is equipped with headphones, so loudspeaker can be switched off and the music heard only by person who is playing. “WESCON” — Western Electronic Show & Convention — this year will be biggest ever, with more than 466 exhibitors and expected attendance of nearly 20,000. Show this year will be at Los Angeles Pan-Pacific Auditorium and Ambassador Hotel, Aug. 25-27. It’s sponsored by West Coast Electronic Mfrs. Assn, and IRE Los Angeles A San Francisco sections. Hartley Baird Ltd. is new name for amalgamated Baird Television Inc. (Baird brand TVs) and Hartley group of companies which includes Harley Electromotives Ltd., Shrewsbury,. Shropshire (electronic instruments) and Duratube & Wire Ltd. Managing director of Baird’s now is A. W. M. Hartley, with Sir Charles King continuing as chairman. “Flyweight” power triode tube, designed for uhf airborne communications and weighing only 8 oz., but with high power output, was announced this week by RCA. Designated 6383, new tube has maximum plate dissipation of 600 watts and can operate at top power at frequencies up to 2000 me. Gramer Transformer Corp., Chicago, has purchased Halldorson Transformer Co., also of Chicago. Gramer recently bought .Johnson Electronics Inc., Orlando, Fla. No personnel changes are planned in Halldorson organization. Trio Mfg. Co., Griggsville, 111. (antennas and rotors) has acquired Falcon Electronics Co., Quincy, 111. antenna manufacturer. Roy J. Wade, chief owner & gen. mgr. of Falcon, becomes Trio sales mgr., replacing Trio 50% owner J. L. Wade (no relation). Andrea Radio Corp. has dropped 15-in. color set plans, announces 19-in. for fall. Financial & Trade Notes: Emerson Radio & Phonograph Corp.’s consolidated net sales for 26-week period ended May 1 totaled $40,445,690, compared with $39,925,745 for same period preceding year. Profits after taxes were $947,515 {40(1: a share on 1,935,187 shares outstanding) vs. $1,768,694 (91^). Fiscal year ends Oct. 1. Emerson has entered into loan agreement with group of institutional investors, arranged by F. Eberstadt & Co., covering sale of $7,500,000 in promissory notes due May 1, 1969. Group Securities Inc., mutual fund, in prospectus dated Feb. 25, 1954, reports these holdings of electronics and electrical equipment shares as of last Nov. 30: 1000 AllisChalmers, 1000 Bendix Aviation, 1300 CBS “A,” 3000 Cornell-Dubilier, 1500 Cutler-Hammer, 2500 DuMont “A,” 1800 Elliott Co., 500 GE, 2000 IT&T, 400 McGraw Electric, 700 Motorola, 1700 Nash-Kelvinator, 1800 Philco, 900 RCA, 1600 Sperry Corp., 1700 Square D, 2000 Sylvania, 1000 Westinghouse, 1400 Weston Instrument, 500 Zenith. (For holdings of Television-Electronics Fund Inc., see Vol. 10:22; for holdings of Fundamental Investors Inc., see Vol. 10:20.) Lamb Industries Inc., headed by Toledo broadcastertelecaster Edward Lamb, has bought 65,000 shares of AirWay Electric Appliance Corp. at $20 a share, bringing his holdings to more than 130,000 of the 360,000 share outstanding. Besides his TV-radio holdings and Erie Dispatch, Mr. Lamb also recently acquired control of C. L. Bryant Co., Cleveland (Sphinx furnaces) and White Products Corp., Middleville, Mich, (water heaters), merging the 2 (Vol. 10:2). Twentieth Century-Fox profit was $2,048,000 (74^ a share) in 13 weeks ended April 27, double the $1,024,000 {B7(f) earned in same period year ago — pres. Spyros Skouras telling annual meeting CinemaScope had turned back TV’s threat to motion pictures. He piedicted theatres equipped for CinemaScope would be increased by year’s end from present 4600 to 10,000 in U. S. & Canada, and from 1500 to 4600 overseas. He said company had no immediate plans to sell old pictures to TV. Famous Players Canada, which owns 50% of CKCOTV, Kitchener, Ont. (Ch. 13) and 25% of CFCM-TV, Quebec City (Ch. 4), latter due on air later this month, is selling 285,000 common shares at $23.50 in current offering designed to give Canadian citizens larger percentage of ownership. Paramount International, however, with 880,000 shares, still holds about 51%. FPC also proposes to acquire more TV stations. Magnavox elects Walter 0. Menge, pres, of Lincoln National Life Insurance Co., Ft. Wayne, and Joseph W. Dye, pres, of Wolf & Dessauer dept, store, Ft. Wayne, to board of directors to succeed late A. J. McAndless, also of Lincoln Life, and E. S. Pridham, co-founder of Magnavox, who resigned because of ill health. General Tire’s success with its General Teleradio TVradio subsidiary operation was reason given by B. F. Goodrich Co. for recent broadening of its charter to permit it to go into TV-radio and other fields. But Goodrich spokesman states move was merely “precautionary” for no immediate plans are in prospect. Walt Disney Productions reports net income of $283,662 (431:* a share) in 6 months ended April 3, double the $142,723 (22(*) earned in corresponding period year ago. Philco postponed annual stockholders meeting from June 4 to June 23, in Land Title Bldg., Philadelphia, because of current strike. Dividends: Admiral, 25(* payable June 30 to stockholders of record June 15; Arvin, 40(* June 30 to holders June 14; Canadian Westinghouse, SO^ July 2 to holders .Tune 15; Capitol Records, 15(^ July 1 to holders June 15; Decca Records, 17%^ June 30 to holders June 21.