Television digest and FM reports (Jan-Dec 1949)

SIGHT AND SOUND Combined AM-TV Hooperatings, described by Hooper at American Television Society luncheon Wednesday, show TV’s Texaco Star Theater topped by only one AM show (CBS’s Mystery Theater) in New York when it’s on air; Howdy-Doody leads all kid shows, AM or TV, in New York during its showing. New York independent AMs who dropped Hooper service (Vol. 5:7) say they could grin and bear those reports if they were true. But they say surveys just aren’t accurate since (1) Hooper determines listening by phone calls; (2) virtually all TV sets are in telephone-equipped homes; (3) very large percentage of New York homes have radios hut no phones; (4) questions are weighted, e.g., “Were you looking at television or listening to the radio just now?” which gives non-TV owner sense of inferiority. “Nothing to it,” is CBS president Frank Stanton’s retort privately and in memo to staff, to Variety yarn this week that he’s quitting to become executive of big non-radio firm (Kaiser-Frazer, it’s whispered). Story even speculated on Paul Kesten, Leon Levy or NBC’s Niles Trammell {sic) as possible successor. Same unqualified denial went for columnist Leonard Lyon’s report he will become college president. Stanton said he has no plans for respite from work until after mid-April meeting of CBS stockholders, when he junkets to Europe to visit CBS foreign offices. Presaging hot local contests for TV channels, AM station WAMS, Wilmington, Dela., this week charged misrepresentation on part of city’s sole CP holder, the Steinman’s WDEL-TV, asked FCC to take its community channel No. 7 away on grounds nothing has been done about construction since CP was granted Aug. 28, 1947. It claims WDEL-TV got extension (expiring next Feb. 23), after change in antenna site, on representations that work had begun, submits photos and quotes neighboring residents to say it isn’t so. At same time, WAMS filed for Channel 7 for itself, promised to spend $141,000 on construction, $180,000 a year on operation. It’s owned by DuPont accountant Frank S. Carrow, manager George Sutherland, et al. WDEL-TV hasn’t replied yet, but has reported it will be on test in April. TV set “circulation” as of Feb. 1, as reported from several cities: Baltimore, 40,677, estimated by stations committee; Boston, 45,120, joint station report; Buffalo, 12,335, by Buffalo Niagara Electric Corp. ; Cleveland, 24,710, by Western Reserve U ; Fort Worth-Dallas, 6,992, by WBAP-TV; Los Angeles, 89,337, by So. California Radio & Electrical Appliance Assn.; Milwaukee, 16,236, by WTMJ-TV; St. Louis, 20,000, by Union Electric Co.; San Francisco, 3,850, by KPIX; Washington, 34,200, by stations committee. Some observations by MBS’s Ed Kobak during Feb. 17 conference with newsmen, as culled from Feh. 18 New York Herald-Tribune report: That he thinks TV networks should be operated separately from radio networks by companies owning both. That he notes “falling off” of good taste in radio and TV (some TV shows “make me sick”) ; but, he hastened to add, TVs derelictions will soon be corrected, mainly comedians who don’t realize material for theater or night club may not be acceptable in home. And that broadcasters aren’t living up to NAB code of good taste and commercial time limits. Resnatron tube for uhf TV is urged by Collins’ tube expert W. W. Salisbury, whose paper for March 7-10 IRE convention concludes Resnatron is only means available at present for obtaining sufficient CW power for adequate uhf coverage. Incidentally, there’s one paper scheduled that really has us fascinated: “Programming of a Chess Game on a Computer.” Along with its first dividend (10^ per share to holders of record Feb. 5, 1949), Television Fund Inc., first open end investment trust specializing in stocks of TV, radio and electronics companies (Vol. 4:35), made known its securities holdings as of Jan. 27, 1949 — considerably expanded from its previously disclosed Nov. 19 holdings (Vol. 4:51). Total portfolio is $1,218,405, which includes $200,000 in U. S. bonds plus these common stocks: Admiral, 1,500 shares; ABC, 2,000; Avco, 500; Bell & Howell, 200; Blaw-Knox, 200; CBS “A”, 1,000; Corning Glass, 1,100; DuMont, 2,500; Eastman Kodak, 600; Emerson, 3,000; GE, 500; General Instrument, 1,000; General Tire & Rubber (Yankee Network), 500; Hoffman Radio, 1,000; IT&T, 2,500; Line Material, 1,000; Loew’s, 300; Magnavox, 1,500; P. R. Mallory, 600; Motorola, 1,500; Muter, 2,000; National Union, 1,000; Oak Mfg., 1,000; Paramount, 2,200; Philco, 1,000; Pittsburgh Plate Glass, 500; Polaroid, 200; RCA, 3,800; RKO, 500; Sylvania, 1,500; Webster-Chicago, 1,500; Westinghouse, 1,200; Zenith, 500. Besides verifying in essential details the financial and trade position of Admiral as reported recently in these columns (Vol. 5:5), except that he hiked estimate of its 1949 TV volume to 60% of anticipated $100,000,000 sales. Admiral’s youthful president Ross Siragusa told New York Society of Security Analysts Feb. 16: Admiral is now in 3rd place in electronics industry, and is world’s largest automatic radio-phono maker. But, he added: “I’m not going to kid you about our console radio-phonograph business. That business has almost completely disappeared. We dug our own grave for this type of set when we announced our new $399.95 all-in-one console” (Vol. 5:2). Packard-Bell Co., Los Angeles, attributes to increased TV production and sales its improved financial position as of Dec. 31, end of first fiscal quarter. During that period, sales were $1,720,770, net profits $105,856 or 44^ per share on 241,000 shares of common outstanding. For full year ended Sept. 30, sales ran $4,400,119, profit only $50,510. Bank loans have been reduced from nearly $900,000 at start of 1948 fiscal year to less than $100,000 at start of current fiscal year, and report states balance will be retired before end of February. As of Dec. 31, current assets were $1,255,928, current liabilities $489,658. IT&T-Farnsworth deal (Vol. 5:7), calling for one IT&T share for 12 Farnsworth, was formally signed Feb. 17, subject to ratification by Farnsworth stockholders at meeting in Fort Wayne April 14. However, action was begun in New York Supreme Court Feb. 18 by Harry Hecht, owning 400 Farnsworth, purchased at 7%, to halt the deal. He bought Farnsworth, he said, because of “confidence in the future of the television industry,” now charges company’s finances had been misrepresented. ABC’s executive v.p. Robert Kintner, according to N. Y. Stock Exchange report, has sold 1,400 more shares of his ABC stock, leaving him with 14,600; and stations v.p. Murray Grabhorn sold 500 shares out of 750. In January, president Mark Woods sold 30,500 shares; Kintner, 17,300; v.p. Nicholas Priaulx, 4,000 (Vol. 5:3). Fiscal sidelight on improving phonograph record business: Decca reports sales for first 1949 quarter will top $6,000,000, which would compare with $7,800,000 in first quarter of 1948 when boom was still on (depression following Petrillo ban really began in April). For all 1948, Decca estimates profits at around $1.10 a common share compared with $2.08 preceding year. Los Angeles hearing on Dick Richards’ stations (KMPC, WJR, WGAR), growing out of alleged slanting of news, was postponed from Feb. 21 to March 16, Comr. Webster to sit (Vol. 5:1).