Weekly television digest (Jan-Dec 1963)

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I NEW SERIES VOL 3, No. 5 TELEVISION DIGEST— 11 Officers & Directors stock transactions as reported to I SEC for Nov.: Allied Artists. Roger W. Hurlock bought 500, held I 36,100. , „ „ AB-PT. James G. Ridell sold 200, held 2,308. Arvin Industries. Eldo H. Stonecipher bought 100 in Oct., held 2,650. Decca Records. MCA bought 10,400, held 1,307,715. Desilu Productions. Desi Amaz sold 17,550, held none. Lucille Ball bought 17,550, held 35,050. Desi Amaz sold 282,800 Class B, held none. Lucille Ball bought 282,800 Class B, held 565,600. Electro-Voice. Wayne Beaverson bought 100, held 3 336 Electro-Science Investors. James J. Ling sold 201,000 in Oct., held 528,175. Alpha-Omega Corp. bought 207,000 i in Oct., held 207,000. Emerson Radio. Abraham Vogel sold 1,800, held 3,927. Filmways. Lee Moselle bought 800 in Oct., held 1,000. GE. Fred Borch sold 600, held 11,375. Cramer W. LaPierre sold 3,000 in Oct. & 1,000 in Nov., held 13,677. Giannini Controls. Damon Van Utt sold 926, held none. John D. Warren sold 100, held 300. Globe-Union. Ralph Conway bought 1,950, held 6,450. Chester Wanvig Jr. bought 100 in Oct. & 900 in Nov., held 21,473. R. H. Warner bought 450, held 1,755. W. T. Warrander bought 1,950, held 2,400. Hallicrafters. Kenneth C. Prince sold 100, held 2,400. Hazeltine. Harold Wheeler bought 100, held 5,000. Hewlett-Packard. W. Noel Eldred bought 5,004 in Oct., held 14,184. Ralph Lee bought 3,336, held 20,174. i Noel Porter bought 5,004, held 20,199. E. E. van BronkI horst bought 2,502, held 4,564. ' Hoffman Electronics. Stanley Horrocks bought 200, held 300. Lear Siegler. Pierpont Hamilton sold 300 in Oct., 200 in Nov. & 100 in Dec., held 37,321. Albert Keske bought 295, held 839. Chester Thompson bought 1,100 in Oct., held 2,199. Ling-Temco-Vought. D. H. Byrd sold 15,000 in Oct., held 19,948. Alpha-Omega Corp. bought 20,000 in Oct., held 20,000. Litton Industries. Roy L. Ash sold 1,800, held 195,206. Charles B. Thornton sold 7,200, held 486,464. Macfadden-Bartell. Gerald A. Bartell bought 400 in Oct., held 319,271. Magnavox. Richard A. O’Connor sold 20,000, held 149,701. Motorola. Edward R. Taylor sold 100, held 7,600. Movielab. Saul Jeffee sold 600 Class A in Oct., held 600. Muntz TV. Floyd G. Dana bought 500 in Oct., held 5,553. National Video. Harold Cole bought 100 Class A in Oct., held 1,100. Outlet Co. Bruce Sundlun bought 100, held 1,125. Oxford Electric. Robert Minsky sold 600 in Oct., held none. Sidney Ungar bought 2,500, held 22,711. Pacific Industries. George McGrew sold 500, held 226,820. Paramount Pictures. Randolph Wood sold 6,275, held 1,000. Pentron Electronics. R. L. Moxley sold 1,000, held 195,380. RCA. Ernest Gorin sold 430, held 2,700. Howard Letts bought 1,697, held 2,153. Reeves Bcstg. & Development. Premier Investing bought 3,400, held 80,400. Rollins Bcstg. John W. Rollins bought 100 as guardian, held 9,396 plus 3,500 as guardian. Standard Kollsman. Robert Eland sold 1,000 in Oct., held 122. Storer Bcstg. Lionel Baxter bought 6,000 Class B, held 6,250. Bill Michaels bought 8,750 Class B, held 8,750. George B. Storer sold 14,750 Class B, held 858,390. TV Development Corp. Robert Cornell bought 800 in Oct., held 1,625. Thompson Ramo Wooldridge. Dean E. Wooldridge sold 500, held 34,143. 20th Century-Fox. Francis S. Levien bought 5,000, held 27,000. Warner Bros. Herman Starr sold 5,500, held 11,000. Webcor. Charles Blake bought 100 in Oct., held 100. John Luttrell bought 100 in Oct., held 100. Paul Roth bought 100 in Oct., held 100. Zenith. James Anderson bought 2,700, held 8,850. Karl Hassel bought 900, held 3,600. John Kuhajek bought 900, held 2,970. Westinghouse posted 25.6% profit gain on 2% sales rise in 1962, according to preliminary figures released last week (see financial table). Earnings climbed to $57.1 million from 1961’s $45.4 million as sales increased to $1,954 billion from $1,913 billion. Pres. Mark W. Cresap Jr. said all product lines contributed to profit gain, attributed improvement to increased volume & greater operating efficiency. New orders booked in 1962 were up 9% from 1957’s record $2,069 billion, he pointed out, and total backlog at year’s end was highest since 1959. Westinghouse working capital at end of 1962 totaled $705,795,000 — down from $715,309,000 a year earlier. Cash & marketable securities declined to $121,483,000 from $215,890,000 at 1961’s close. Cresap attributed decline in cash largely to increased inventories & drop in both progi-ess payments & advance billings from customers. Sparton Corp., Jackson, Mich, maker of TV cabinets, military electronic equipment, other products, expects 40% sales rise & net of nearly 50^ a share in fiscal-1963’s first half, ended Dec. 31. Sparton also has a Canadian Div. that produces TVs & radios. Pres. John J. Smith estimated for total 1963 fiscal, ending next June 30, earnings of $1 a share on $28.5 million sales — up from fiscal-1962’s 614 on $25.5 million sales. “In 1956 Sparton lost half of its sales when it went out of the TV & radio manufacturing business,” Smith noted. “It has recovered” those lost sales in other divisions, he said, noting that sales of Electronics Div., formed in 1956, have gained to $15 million annually. Metromedia’s 1962 earnings more than doubled to “approximately $2.5 million, or $1.40 a common share,” from 1961’s $1.2 million (68^), reported Chmn.-Pres. John W. Kluge. The 1962 figure includes net-non-recurring gain of “about $2 million, or $1.18 a share,” from $3,250,000 capital gain on sale of certain outdoor advertising properties & $750,000 capital gain from sale of short-wave radio WRUL. Kluge estimated 1962 gross revenues climbed to about $53 billion from 1961’s $48.7 million, predicted 1963’s first-quarter performance would top 1962’s Jan.-March earnings of 84 a share on $12.3 million revenue.