Television digest with AM-FM reports (Jan-Dec 1951)

3 earned surplus was $28,572,222. Of 1,500,000 Class A $2.50 par common shares authorized, 961,278 were outstanding; of 1,500,000 Class B, 948,674 were outstanding. Net earnings record shows declines in recent years. In 1949, CBS grossed $105,597,580 and netted S4, 184,079 ($2.44) ; 1948, $98,377,258 & $5,041,682 ($2.94); 1947, $101,045,647 & $5,920,104 ($3.45); 1946, $91,996,822 & $5,795,896 ($3.37); 1945, $86,257,385 & $4,308,627 ($2.51) plus $1,037,014 (60^^ per share) derived from sale of WBT, Charlotte; 1944, $84,905,830 & $4,678,361 ($2.72). [For officer stockholdings, see p. 16, Vol. 7:13.] How much of CBS gross and net derive from subsidiary Columbia Records Inc, has never been disclosed — but recording firm is said to have been fairly profitable last year along with rest of that industry, * * * * Hytron has won good position in receiving tube manufacture, riding TV boom and recently expanding with new plant in Newburyport, Mass. It's also strong in picture tubes, though not in class with RCA, Sylvania, GE and DuMont volume-wise. It has not indicated how much dollar volume is accounted for by Air King, but that company is probably toward bottom of Industry’s Big 20 set producers (Vol. 6:8) and has been major private-label producer for Sears Roebuck, Firestone, Rathe, et al. It also has small Brooklyn cabinet-making subsidiary. Royal Wood Products Mfg. Co. Hytron's consolidated 1950 sales totaled $40,542,135, net profit $5,348,871 , or $1.65 per share on 2,004,892 shares outstanding. Its earned surplus at end of year was $2,584,694, net working capital $6,492,132. It split stock 2-1 in 1950. Last year represented huge jump from preceding operations: 19^, gross of $16,226,143 and net of $565,171 (45^f on 1,262,422 shares) ; 1948, $4,159,714 & $63,853 (ll5^ on 573,835 shares); 1947. $4,153,288 & $28,971 deficit; 1946. $5,013,143 & $30,603 deficit; 1945, $5,257,257 & $4,759 deficit; 1944, $5,264,088 & profit of $131,314 (76^ on 173,835 shares). It's probable that acquisition of Hytron, with considerable plant facilities, will give CBS better tax base than now, for broadcasting represents far smaller plant investment in relation to volume than manufacture. As CBS figures show, its volume has gone up consistently, but profits have slipped — largely due to huge talent investments, resulting from raids on other networks, but also due to higher taxes (particularly 1950). Hytron-Air King operations, joint statement says, will continue under present managements, with 4 of their executives going on CBS board. These will include Lloyd H. Coffin, chairman, and Bruce A. Coffin, president, of Hytron, and David A. Cogan, president of Air King. FCC EASES ALLOCATIONS DEADLINES: industry got requested breather, in vhf-uhf allocations proceedings, when FCC granted postponement of deadlines for comments on allocation plan and beginning of city-by-city hearing. Largely because of conflict with NARTB April 15-19 convention. Commission moved comment deadline from April 23 to May 7, opposition deadline from May 8 to May 22. start of city-by-city hearing from May 23 to June 11. Most applicants will use delay in dogged hunt for more vhf channels. Intentness on vhf is understandable, in light of simple uncontroverted fact that uhf can't possibly get going on any meaningful scale for many months, probably several years. Yet, on other hand, additional vhf stations won’t blossom forth in any hurry either (Vol. 7:12-14). Nevertheless, uhf outlook brightens daily, as manufacturers pull wraps off remarkable results quietly achieved in laboratories over past few years, and as additional propagation data indicates probability of very acceptable services areas for uhf in many, if not most, areas (see stories on pp. 4 & 5). Another Senator got into educational TV act this week — Sen. Wm. Benton (D-Conn. ), onetime advertising mogul (Benton & Bowles) who controls Muzak. In long speech on Senate floor April 13, he introduced S. Res. 127 calling for 90-day "quick review" of question by Interstate & Foreign Commerce Committee. He wants FCC to hold off final decision until Senate receives and studies