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

9 Zenith's new uhf strip is much superior to old one, accoiding to Rudy Frank, promotion manager of WELI, New Haven, whose management is extremely enthusiastic about uhf (Vol. 7:15). Frank, whose Bridgeport home is virtual testing ground for various manufacturers’ uhf sets, wi’ites: “This new device is so vast an improvement over the early strip which we tested that I feel that an injustice has been made if I didn’t correct the impression created by my appraisal [in Vol. 7:15]. Contrary to published comments that the job of installation of the strip required hours of work by a serviceman, I was able to install the .strip myself in a matter of 5 minutes, and you might recall that I am not an engineer or a serviceman. The important thing though is the quality of the picture. I can say that Zenith produced the clearest, cleanest picture of any of the converters and receivers we have tested to date.” Trade Miscellany: DuMont announces availability of electrostatically-focused 17 & 20-in. pictui’e tubes (17FP4 & 20GP4) which eliminate need for copper or cobalt-containing focus magnets (Vol. 7:1, 3, 5, 9) ... GE 12-in. tube promotion launched this week aims at what it regards as “tremendous replacement market” . . . Richmond Television Corp., Los Angeles, subject of adjudication order in bankruptcy proceedings in Federal district com’t (Vol. 7:7), has offered to pay creditors in full with 12-installment notes . . . Pathe cut price of 12-in. table from $249.50 to $149.50, 17-in. consolette from $299.50 to $169.50; Pathe sets are made by Air King . . . Sparton returning to refrigerator field, will pi-oduce 9 & 10-ft. models starting next month. Skiatron Electronics & Television Corp., 30 E. 10th St., New York (new corporate name, new address), reports election of Telford Taylor and Rear Admiral Timothy J. O’Brien, USN retired, to board. Taylor is former general counsel of FCC, as USA brig. gen. prosecuted Nuremberg war crimes trials, is now partner in New York law firm of Paul, Weiss, Rifkind, Wharton & Garrison, which represents Emerson (in color case) and educators (in TV channel allocations issue). Admiral O’Brien is v.p. of Yearbook Publication Inc. Skiatron is promoting “Subscriber-Vision,” rival to Zenith’s Phonevision, and claims patents on a TV theatre projector that dispenses with CR tube. Dividends: Magnavox, 37 payable June 15 to holders of record May 25 and 25^ on Class A pi-efei'red payable June 1 to holders May 15; Indiana Steel Products Co., 20 payable June 8 to holders May 22; Standard Coil Products Co., 25d payable May 15 to holders May 1; General Instrument Corp., 20^ payable May 15 to holders May 1; Westinghouse, 50<: payable June 1 to holders May 10; P. R. Mallory, 30^ payable June 11 to holders May 18. Trade Personals: Wm. J. Halligan, Hallicrafters presi dent, named president of Armed Forces Communications Assn, at Chicago convention . . . John R. Beers, engineering v.p., elected president of Arcturus Electronics, succeeding late Morris H. Cohn . . . Harold W. Schaefer, onetime Westinghouse and RCA engineer, recently special asst, to Philco engineering v.p. Leslie J. Woods, appointed Philco director of refrigerator and range engineering . . . Charles L. Cade appointed director of distributor sales for Sarkes Tarzian Inc., now entering replacement market . . . Joshua Sieger has resigned as engineering v.p. and Dr. Adolph H. Rosenthal elected v.p. and research director. Freed Radio . . . Saul Feldman, ex-Tele-tone, named controller of Jewel Radio . . . Edwin G. Weber, covering Chicago TV-radio ti'ade for Retailing Daily, has resigned to join Philip Lesly Co., public relations, whose clients include MeckScott, Webster-Chicago . . . E. W. Ritter, mgr. of Westingliouse’s new Electronic Tube Div., elected v.p., and E. V. Huggins elected to newly created post of executive v.p., Westinghouse Electric International Co. Financial & Trade Notes: Sylvania achieved another record when its first 1951 quarter sales more than doubled those of same period 1950, and net went up threefold. Quarter was better than any full year save 1948 and 1960, president Don Mitchell told annual stockholders meeting in Boston this week. First quarter sales were $60,631,085 vs. $29,347,911 for same 1950 quarter. Net eamings were $3,615,155, after providing $6,665,000 for Federal taxes, or $2.34 a common share, vs. net of $1,225,844 (77<f) same period last year. Net for whole of 1950 was $8,221,185 ($5.37 a share) on sales of $162,614,814 (Vol. 7:11). President Mitchell said unfilled defense orders now amount to about $75,000,000, but it will be late in third quarter before shipments are substantial. He predicted TV sets, though now “a drug on the market,” will be in shoi't supply by fourth quarter’. Stockholders approved increase in authorized common shai'es from present 1,600,000 to 2,600,000. ❖ * * Tele-tone’s first annual report (since stock was placed on market in August 1950) shows $19,785,604 sales during 1950, up 65% from 1949, and net income of $1,083,525 before taxes, $646,372 after taxes. Common stock eamings were $1.36 per share, dividends paid third and fourth quarters were 22<‘; per share on Class A, 25<i on Class C. There were 88,147 shares of $10 par Class A outstanding as of Dec. 31 out of 100,000 authorized. Of 1,000,000 shares of $1 common, 458,242 were outstanding. Earned surplus at year’s end was $728,015. Report points to 20-fold increase in volume since firm began in 1945; shareholders totaling 1346 in 31 states; new plant in Elizabeth, N. J.; work on color TV (with CBS); manufacture this year of private-label TVs & radios for Sears Roebuck, Western Auto, B. F. Goodi’ich, Gamble-Skogmo, Rexall Drug, Walgreen Drug, Mercantile Stores Co. Company at end of year had 1654 employes. Disclosed also was fact that Tele-tone’s public relations counsel is Benjamin Sonnenberg, who also represents CBS, notably on color. Zenith consolidated sales for quarter ended March 31 were $37,053,064, net profit $2,228,709 after total taxes of $2,451,993. This is equal to $4.53 per common share on 492,464 shares outstanding. No comparisons were available because company has changed its fiscal year to end Dec. 31 instead of April 30, but recent annual report showed profit of $5,627,003 ($11.43 a share) on sales of $87,704,071 for 8 months ending Dec. 31, 1950 (Vol. 7:12). International Resistance Co. report on 1950 business shows $11,085,109 sales, $1,056,638 net profit, or $1.01 per share on 1,010,757 shares of common outstanding as of Dec. 31. Year before, sales were $6,483,149, profit $347,529 (39(i)' Backlog of orders at year’s end was $4,424,830 vs. $687,308 year earlier. During 1950, firm converted 122,069 shares of preferred into common on basis of 2 common for each preferred; also retired 17,598 preferx-ed shares in treasui-y. Remaining pi’efei’red (only 2583 shares after redemptions so far this year of 23,053) ai*e now being I’edeeixxed. Teco Inc., formed by Zenith to promote Phonevision and backed by $1,010,000 raised through stock issue (Vol. 6:15-16, 39,40), reports disbursements and promotional expenses, chiefly salary and travel, of $22,452 from time of incorporation May 25, 1949 to Dec. 31, 1950. Organization expenses, mainly fees in connection with stock issue, totaled $34,418. President S. I. Mai'ks’ repoit to stockholders April 25 shows $925,159 in U. S. bonds, $16,466 cash, states: “Obviously, unless and until Phonevision is approved [by FCC], your company will not be engaged in any income-producing operations.”