Word: pitney
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Dates: during 1950-1959
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Automatic Mail Canceler. An automatic mail-facing and canceling machine that positions up to 500 letters a minute for canceling was introduced by Pitney-Bowes Inc. The new machine, being installed in post offices around the country, has been processing 27,000 letters an hour with a six-man crew, v. 16.000 letters an hour by a ten-man crew working manually. Price...
There is only one official U.S. function that a Government monopoly entrusts to a private monopoly. The company is Connecticut's Pitney-Bowes, Inc. P-B makes, sells, rents and services the postage metering machines* that print and postmark more than $1 billion worth of stamps on business mail every year. This not only saves millions in postal handling costs for the U.S., but it brings to P-B exceptionally high profits of 9? per revenue dollar. P-B announced this week that 1958 earnings rose 7% to $4.4 million on gross income of $51.3 million. P-B will...
...football tackle at Harvard in 1916, a subchaser skipper and Navy Cross winner in World War I, and a champion sailor. He joined the company in 1919, when it was a struggling small business directed by his stepfather, the late Walter H. Bowes. Bowes teamed with Inventor Arthur H. Pitney to develop the first crude postage meter. Wheeler went to Washington in 1920, presided over the demonstration of the machine that won federal approval for P-B to create what amounts to an auxiliary postal system. Soon after, young Walter Wheeler moved up to general manager, by 1938 was president...
...profit-sharing for all employees in 1936 (current share: 6½%; of base pay), health insurance in 1941, noncontributory pensions in 1948. P-B has never had a strike, and the last attempt to unionize the company was snowed under 2 to 1 back in 1946. But Pitney-Bowes does have an elaborate parliament of workers, supervisors and brass who meet regularly and publicly discuss everything from the cafeteria's coffee (pretty good) to wages (above average...
Under energetic President Henry Pitney Van Dusen, pioneer of the ecumenical movement, Union's topflight faculty includes Theologians Reinhold Niebuhr (vice president of the seminary) and John C. Bennett, Philologist James Muilenburg, such noted preachers as Methodist Dr. Ralph Sockman and Riverside Church's Dr. Robert James McCracken. But maintaining such a faculty, as well as housing a student body that includes more and more women and children (46% of Union's seminarians are married), is posing a problem...