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

11 Nobilizatitn Notes: Fourth quarter allotments of steel, copper and aluminum under Controlled Materials Plan went out this week to nearly all electronics manufacturers. Electronics Div. processed about 1100 applications. Of these, about 850 were from manufacturers of Class B (standard civilian-type) products, including 60 from home TV-radio manufacturers. In addition to fourth quarter allotments, some manufacturers ai'e receiving tentative allotment figures for first quarter 1952. NPA stressed that these advance allotments ai'en’t firm allocations, but merely working figures to permit manufacturers to place advance orders for materials for first quarter of next year. Manufacturers who receive advance allotments are still required to apply later for firm allotments for first quarter. Certificates of necessity for rapid amortization of new productive facilities were granted by DPA to these 6 electronics firms during week prior to start of 60-day moratorium on new certificates (Vol. 7:33): Tung-Sol, for production of tubes at Washington, N. J., $731,235, of which 7510 is to be amortized over 5-year period; Standard Tool & Mfg. Co., Lyndhurst, N. J., tubes, $461,646 at 75%; Eitel-McCollough, San Bruno, Cal., power tubes, $90,825 at 80%; GE, Schenectady, tubes, $66,838 at 75%; Gibbs Mfg. & Research Co., Janesville, Wis., doppler drift attachment systems, $57,263 at 85%; Standard Piezo Co., Carlisle, Pa., quartz crystal frequency control units, $39,300 at 75%. These applications for certificates were rejected: Electronic Measurements Inc., power supplies, vacuum tube voltmeters, $227,000; Empire Coil, transformers, $217,000; Indiana Steel Products, alnico magnets, magnetron assemblies, $136,000. Two new govt, pamphlets to aid manufacturers seeking military contracts: Converting to Military Production, published by NPA, available from Commerce Dept, field offices, and IIoiv to Be Cleared for Handling Classified Military Information Within Industry, by Munitions Board, available from Board at Defense Dept., Washington. TV in Latin America: Mexican branch factories are reported planning mass production of TVs, mainly 10 & 12in., to be sold on popular time payments. Plans to build score or more new TV stations in Mexico (Vol. 7:32) have impelled Emilio Azearraga, operating Mexico City’s XEWTV, to state that at least 60,000 sets can be sold by July 1952, or “as soon as the TV-bug’s bite starts an epidemic of keeping up with the Joneses” . . . City of Bogota, Colombia, in cooperation with Municipal Bank of Bogota, installing TV station built by British Marconi to American 625line standards, ordering consignment of receivers from Ecko (E. K. Cole Co.) of England, which will rent rather than sell them to public . . . Argentina’s first station. Radio Belgrano, Buenos Aires, due to start in mid-October, using Federal equipment and Harrod’s of Buenos Aires Ltd. reporting first shipment of Philcos received. Note on Cuban market from recent Foreign Report of Research Institute of America: “Per capita income is high. Cubans love luxuries and are not niggardly. In the first three months of ’51 Cubans bought 12,620 automobiles from the U. S. With television only six months old here, and with only two stations (in Havana) operating on the entire island, it is estimated that there are already 16,000-20,000 TV sets in use. Miami stores advertise sets in Cuban newspapers, Cubans visit Miami to buy them there and bring them home by plane.” But American firms have competition from Britain in Cuban market from now on. Cuba last week signed trade pact with United Kingdom granting same tariff concessions on British industi'ial products, including TV-radio, as it does on American items. Financial & Trade Notes: Emcr.son Radio’s profits were $5,762,716 before taxes, $3,039,943 ($1.57 a share) after taxes first 39 weeks ended Aug. 4, company announced after Aug. 27 board meeting. This compares with $6,040,120 profit before taxes, $3,559,827 ($1.84) after taxes, for like period ended Aug. 5, 1950. Emerson board decided to submit stock option plan for key employes to stockholders at meeting Feb. 6, making available not more than 100,000 shai’es of unissued capital stock to be distributed through committee comprising directors Ferdinand Eberstadt, Richai-d C. Hunt, George Saylor. President Benjamin Abrams and secretary-treasurer Max Abrams will not participate. Board also authorized creation of Emerson Radio Charitable & Educational Foundation, with Chase National Bank as trustee. Oak Mfg. Co. sales rose to $13,145,806, or 47% ahead of previous year’s $8,934,776, in fiscal year ended May 31, 1951 — earnings amounting to $1,188,037 ($2.26 per share) vs. $1,179,333 ($2.25). There are now 524,715 shares outstanding owned by 3273 stockholders, and net worth at end of last fiscal year was $5,978,114. Proxy statement for Sept. 27 annual meeting reveals these salaries and bonuses during year: Elof Sandstrom, chairman, $42,000 salary & $17,719 bonus; Robert A. O’Reilly, president, $42,000 & $17,719; Irwin N. Walker, v.p. & gen. counsel, $7500; Edward J. Mastney, v.p., $24,150 & $6006; Harry J. Veitch, v.p., $22,175 & $6006; John A. Rovelstad, treas., $19,250 & $6006. Shareholdings include 12,229 by William Bessey, v.p.; 5511 by Mr. Sandstrom, 2555 by Mr. Rovelstad, 2155 by Mr. O’Reilly, 1755 by Mr. Mastney. Collins Radio is reported 90% on defense orders, now totaling $100,000,000, as against $45,000,000 in mid-1950, according to Aug. 29 New York Journal of Commerce. It’s leasing additional plant in Dallas, where it already operates, has financed expansions through $4,000,000 loan from Fii’st National Bank, Chicago; $2,000,000, First National, Dallas; $2,000,000, Security First, Los Angeles; $1,000,000 each. Northern Trust, Chicago, and Peoples Bank & Trust, Cedar Rapids, la. (headquarters). Firm now employs 3600 in all plants, including 125 at Burbank, Cal. Its broadcast, airlines and amateur equipment sales account for nondefense 10% Standard Coil Products Co. and its wholly-owned subsidiary, Kollsman Instrument Co., report consolidated net sales of $19,649,678 and net income of $1,151,802 after provision of $1,020,697 for taxes, equivalent to 78(^ a share on 1,470.000 shares outstanding, for 6 months ended June 30. Comparative consolidated figures are unavailable for same 1950 period, but in all 1950 (Vol. 7:12) Standard Coil sales were $35,632,396, profits $5,266,442 ($3.58); in 1949, sales were $16,594,626, profit $2,579,279 ($1.75). Clarostat Mfg. Co. sales v.-ere $3,502,885, profit before taxes $718,261, profit after taxes $273,268 (65^^ a shax’e) during 6 months ended June 30. This compares with $2,413,441 sales, $264,292 profit before taxes, $164,292 (39(0 profit after taxes for same 1950 period. Pacific Mercury Television Mfg. Corp. reports net income of $72,135, or 14c a share, on net sales of $5,740,044 for year to March 31. National Scientific Laboratories Inc., 2010 Massachusetts Ave. NW, Washington, electronics research firm, founded in 1948 by Dr. Robert I. Sarbacher, ex-dean of Georgia Tech graduate engineering school, has been sold to Bowser Inc., manufacturer of pumps and other products. U will (•(.ritinue imdej Di'. Sarbacher as president, with It. Ho;nu n Danioii of Ihnvser firm as cliairman, Wallace M. Cohen v.p., Gertrude Priester treasurer, Abba P. Schwartz secretary.