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The
Victor Talking Machine Company
Appendix IX
London
| 1898 |
Set up by Win. Barry Owen and
E. Trevor Williams with a capital of £15,000 as The
Gramophone Co.
|
| 1899 |
Name changed to The Gramophone
Co., Ltd.
|
| 1900 |
Name changed to The Gramophone
& Typewriter, Ltd.
|
| 1903 |
On 9/8/03 Victor directors
voted to buy 4,000 shares of Gramophone preferred, available records do
not confirm completion of the purchase.
|
| 1907 |
Name changed back to The
Gramophone Co., Ltd. Gramophone moved from London to Hayes, where they
had large manufacturing facilities. The capitalization was increased to
£600,000.
|
| 1920 |
(5/26/20) Victor bought a half
interest in the Gramophone Co. At that time the Gramophone’s
capital structure was as follows:
100,000 5% Cum. Pfd.
750,000
Common—"Ordinary"
850,000
Common—"B-Ordinary"
1,700,000
Victor bought 850,000 shares
of “B-Ordinary” @ £1.55. These shares
were changed to “Ordinary” on 6/30/23.
Victor’s first payment was £212,500 ($1,586,583.71)
the balance of £637,500 was paid 12/31/22. Victor borrowed
$2,500,000 to complete the deal.
|
| 1927 |
Victor received $538,310.75 in
dividends from the Gramophone Co.
|
| 1928 |
Victor received $958,504.43 in
dividends from the Gramophone Co.
|
| 1931 |
Following the business
depression of 1930, Gramophone and Columbia interests were combined.
The new company was known as Electric & Musical Instruments,
Ltd. and included the following brands: His Master’s Voice
— Columbia — Parlophone — Regal
— (English) Zonophone. Mr. Alfred Clark was the Managing
Director.
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| 1933 |
At the end of 1933 RCA carried
an investment in Electric & Musical Instruments, Ltd. in its
Statement $13,189,431.98. 1,700,000 shares of common, 1000 shares of
preferred, carried at cost.
|
| 1935 |
RCA sold its Electric
& Musical Instruments, Ltd. stock in the fall of 1935 for
$10,225,917 in cash. (p. 112) |
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