Word: farnsworth
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...Back of Farnsworth's latest luck were two more bankers with imagination, this time New Yorkers. One was Kuhn Loeb Partner Hugh Knowlton, whose company has been chaperoning Farnsworth financially for four years. The other was Harry Cooke Gushing of E. H. Rollins & Sons, Inc. Last week Farnsworth Television & Radio Corp. filed with SEC a registration statement covering 600,000 shares of $1 -par-value common stock. Mr. Cushing's firm will head a syndicate to raise over $3,000,000 from sale of the stock. Farnsworth Corp. will absorb The Capehart Inc. (famed record-changing phonograph...
...Farnsworth -Nicholas. Philo Farnsworth will be a vice president and director of research of his company. Chairman of the board is Farnsworth's old backer, Banker McCargar. Backer Everson is treasurer, secretary and a director. To be president, Edward A. (for something he promised his wife not to tell) Nicholas resigned from...
...Wireless Telegraph Co., whence he was hired by RCA's David Sarnoff as his assistant. When RCA bought Victor Talking Machine Co. he was put in charge of Radiola sales. He got into televison in 1934 when RCA promoted him to manager of its license division. For running Farnsworth, 45-year-old Edward Nicholas will get a block of stock and a starting salary close to the $30,000 he drew down...
...Inventor Farnsworth, who, besides his televisionary accomplishments, is Philadelphia's leading Mormon, will move his laboratory out to Capehart's streamlined plant in Fort Wayne, Ind. The old General Household plant at nearby Marion will be used for manufacturing. With a complete line of radios, phonographs and radio-phonographs, besides Capehart's record-changer patents, Farnsworth Corp. will have something to keep it busy while'television is turning the corner...
Although the new company will be nowhere nearly as big as RCA (or Philco Radio & Television Co. and Zenith Radio Corp. which are also equipped to make television sets), it has the strongest patent position in television outside of RCA. Philo Farnsworth owns 55 patents, has 78 pending, is positive that no television sender or receiver can be made without using some of his patents. But neither can Philo Farnsworth build a set without the patents of RCA's Zworykin, and so Farnsworth and RCA will cross-license each other...