THE GRAMOPHONE COMPANY.

Otago Daily Times, Issue 20290, 24 December 1927, Page 7

THE GRAMOPHONE COMPANY.

NEW AUTOMATIC MAGAZINE INSTRUMENT. A YEAR’S REMARKABLE PROGRESS. (Fbom Cub Own Coeeespoxdxnt.) LONDON, November 10. Some interesting points were made by Mr Trevor Williams, chairman of the Gramophone Company, at the annual meeting of this prosperous enterprise. Ho described as astounding the facts am. figures submitted to the shareholders. In the past year the company has more than doubled its profits, the amount available for distribution and its carry-forward, while at the same time doubling its divi dend. And apparently there is every prospect of continued progress. In the expired four months of the current financial year sales are as largely in excess of those of 1926 as were the sales of 1920 in excess of those of 1925. It is thus open to the shareholders, as Mr Williams suggested pleasurably to contemplate the possibilities of the current year. Last year’s net profit represented 68.5 per cent, on the present ordinary capital, 59.3 per cent, on the capital as increased by the recent call on the nartly-paid shares, and 46.7 per cent, on the whole of the ordinary capital if fully paid-up. Moreover, the carry-forward is ©aual to 54.4 per cent, on the present capital, and the reserve to 32.8 per cent., making together 87.2 per cent. The net tangible assets amount to approximately £2,500,000, or more than double the naid-up ordinary capital. Finally, though the real value of the company’s goodwill, judging by Stock Exchange quotations, must be several millions, its book value is the modest and nominal one of 20s. Pew industrial undertakings (comments the Financial Times) can boasrt fjuch an overwhelmingly strong position.

REASONS FOR PROSPERITY. “It is all very wonderful, and it is difficult for anyone not closely connected with ihe company to understand the rapid growth of the business during the last two or three years ” continued Mr Williams. “ The new instruments and electrical reording have had much to do with it, but the quality of the goods is the principal factor in our prosperity. We have enormous factories; Hayes alone to-day employs 6000 hands, compared with 4500 at this time last year. These factories are worked at over full pressure, 1 under such admirable organisation and test control that hardly ever does an instrumnt or a record leave the factory otherwise than as near perfection as modern methods can produce, and the quality is constantly being improved.

EXTENSIVE RESEARCH DEPARTMENTS.

“ We have very extensive research departments, electrical, mechanical, and chemical, entirely independent of the production factories, but constantly supplying them, with improved methods—sometimes, perhaps, unnoticeable, but of great advantage to quality, appearance, or con. venience ; sometimes very noticeable and even spectacular. “ In the latter category we shall shortly be putting on the market an automatic magazine instrument which, on account of its uncanny ingenuity alone, is likely to cause a sensation. This instrument can be loaded with 20 records of either lOin or 12in size, and in any sequence, and will play these records one after the other with about 10 seconds interval, giving entertainment for one and a-half or two hours without any further attention whatever. —(Applause.) It can also he actuated by push buttons from an arm chair—(laughter)—discarding any record that does not please or repeating a particularly pleasing record any number of times, and stopping or starting the entertainment at will. It is, of course, electrically driven, and will be fairly high in price, so that it will not displace or replace any of our instruments now on the market.

ROYAL VISIT TO HAYES. “ A special model of this instrument was completed on the morning of the day that the King and Queen did us the great honour of visiting our factories at Hayes in April. This visit was spontaneous, in. formal, and in every way delightful, showing th 0 great interest their Majesties take in all advances in science, and especially in sound reproduction, and the big strides lately made by our company in this direction. “ After all, whatever he the cause of our prosperity at any particular period, it is at all times and throughout the years —and don’t let us ever forget it —due in essentials to flip hard work, the enthusiasm, the co-operation, and the skill of those who so untiringly work in the interests of the company —(applause)—all contained, as I said last year, in the word ‘ effort '—sustained effort, given ungnidg-ino-lv and lovallv by our managing director,' Mr Alfred Clark, his staff, and every employee of the company.”