Television digest with electronics reports (Jan-Dec 1954)

13 Electronics Reports: Raytheon’s l,000,000th transistor was announced this week, even as GE was proclaiming that it is tooling up for mass output — “in the millions” — of low cost, high frequency transistors ideally suited for completely transistorized TVs and radios. GE’s production plans are based on development of “rate-grown” method of mass-producing germanium ingots at low price, invented by GE’s Dr. Robert N. Hall (Vol. 9:17). Electronics v.p. Dr. W. R. G. Baker said wide-scale sampling of electronics industry should begin late this year and transistors at competitive prices “should be available as soon as electronic equipment manufacturers have had sufficiently circuiti-y development time to order them on a large quantity basis.” Production, limited only by volume of sales, is scheduled to begin next year at Syracuse plant — and GE will be turning out “many millions a year” of low-cost extremely high frequency transistors within next 2 years, said Dr. Baker, depending only on when industry is ready to convert to them. Raytheon’s 1,000,000th transistor was presented to Mass. Gov. Herter at ceremonies at Waltham, Mass, plant, at which these facts were brought out: Raytheon has made “-3 times as many transistors as all other manufacturers combined.” Field failui’es in actual service ax'e running at less than 2% a year, with well over a billion transistor operating hours to date. Great majority of Raytheon transistor output has gone to hearing aid industry, with nearly 300,000 of nation’s 1,250,000 hearing aid wearers now using transistorized aids. Transistor-equipped portable radio was demonstrated, using new power output and radio frequency transistors “now in production design stage” and due for small production before end of 1954. Small quantities of ti*ansistorized radios may be on market next year at premium prices, said Raytheon pres. Charles F. Adams. Farnsworth Electronics Co., Ft. Wayne, Ind., was created this week as new IT&T div. to concentrate on and expand research and production functions in industrial and defense electronics formerly handled by Capehart-Farnsworth, which now concentrates on TVs, radios, phonogr-aphs and allied consumer products. IT&T said new div. establishes “another source of supply in the rapidly growing fields of advanced electronics and the application of atomic energy to industry.” Dr. Harvard L. Hull, CapehartFarnsworth v.p. & gen. mgn*. of research & development, becomes pres, of new div.; Philo T. Farnsworth, electronics pioneer, is v.p. & technical director; W. F. Hoeppner, exasst. to pres., is appointed v.p. At Capehart-Farnsworth, L. G. Haggerty, technical products v.p., is elevated to presidency, succeeding Fred T. Wilson, who becomes IT&T v.p. in charge of industrial relations. In addition, gen. sales mgr. E. W. Gaughan and comptroller Paul H. Hartmann are both promoted to Capehart-Farnsworth v.p.’s. Combat uses of TV will be demonstrated Aug. 11 at Ft. Meade, Md., with field exercise conducted by 3rd Cavalry Regiment. Featured will be water-crossing operation and assault on “enemy-held” position, with televised infoi-mation from battlefield relayed to command post by experimental combat TV equipment — portable camei-as and transmitters being carried by Signal Corps personnel accompanying assault troops. Demonstration will be carried by NBC-TV in color, 11-11:30 a.m. Participating will be Chief of Staff Gen. Matthew B. Ridgway, Second Anny Commander Lt. Gen. Floyd L. Parks, Chief Signal Officer Maj. Gen. G. I. Back, RCA chairman David Samoff. List of 775 govt.-owned inventions in field of instrumentation, most of them available on royalty-free basis, is available for $2 from Office of Technical Seiwices, Commerce Dept. (Order No. 111464). Financial & Trade Notes: Louis E. Wolf son, the Miami financier whose expanding activities and holdings in construction, shipbuilding, transit and other industries are becoming legendary, is supposed to be behind current efforts to purchase control of Olympic Radio, its research subsidiary Olympic Development Co. and its 95% -owned Multra Machine Co., Stamford, Conn, (automation & automatic machinery). Sol M. Zweifach, believed to be working on Wolf son’s behalf and claiming to own or control 50,000 shares, has had conferences with Heywood Fox, of Fox, Wells & Co., private N. Y. investment firm which owns about 123,000 shares, looking to purchase of that entire block at offers reported to range from $6 to $8 a share. One report has Mr. Wells willing to consider latter price, but deal is said to have snagged over Fox’s unwillingness to part with Olympic Development. Shares outstanding total 432,000. If Wolf son is real principal, it’s possible that this is part of an effort to diversify into lighter industries. On basis of his record and in view of secondary position Olympic holds in the TV-radio industry, it may be first move toward absorbing and merging various other companies in electi'onics fields. Wolfson reputedly is heavily interested in Utah Radio Products Inc. (speakers, transformers, cabinets). * * « Motorola second quarter sales were $44,458,410, do^vn only slightly from record $44,673,101 for same 1953 period. Earnings were $1,214,217 (63p a share), down from $1,466,471 (76<-) For 6 months ended June 30, sales were $92,465,210, earnings $2,858,301 ($1.48), compared to $109,532,968 & $4,640,679 ($2.40). Pres. Paul Galvin said communications volume is equal to last year and military business better. Webster-Chicago sales for 6 months ended June 30 were $12,738,814, net earnings $162,428, compared to $13,301,570 & $354,973 for same 1953 period. New plant at New Ulm, Minn, is neanng completion, chairman R. F. Blash reports, as well as modernization of laminations div. Working capital has been reduced to $3,760,731, which obviated dividends under terms of V-loan agreement requiring not less than $4,000,000 before dividends can be paid. Philco had poor second quarter, as did its distributors — but new pres. James H. Carmine noted at this week’s convention that they’re all in “excellent financial shape.” Net worth of all Philco distributors, he said, has risen to an all-time high of $70,000,000. Since 1948, the net worth of 83 of them rose from $34,000,000 to $53,000,000. Television-Electronic Fund’s resources have gone up to $50,109,143 from $28,825,000 last Jan. 1, reports exec, v.p. Paul A. Just. Its assets were $290,399 when it started in 1948 as an open end investment fund specializing in electronics. P. R. Mallory & Co. profit of $313,383 (24^ a common share) in first 6 months was sharp drop from $1,713,496 ($2.59) earned in first half of 1953. Sales declined to $26,819,875 from $38,810,371 in first 6 months year ago. Tung-Sol earned $1,001,537 ($1.73 per common share) on sales of $19,102,826 in 26 weeks ended July 3, compared to profit of $1,015,355 (.$1.77) on $20,727,245 in corresponding period year ago. Kaye-Halbert filed Chapter XI petition in Los Angeles Fede)-al Court July .30, offering to pay some 240 unsecured creditors in full, starting 180 days after confirmation of plan. No schedules were filed. Consolidated balance sheet as of June 30 showed assets of $480,.327, liabilities of $667,224. Loss from operations for year ended June 30 was listed at $575,834.