Fair Man Up

Interested in Merlin Hall Aylesworth's resignation last week as president of National Broadcasting Co., Radio Corp. of America's broadcasting chain, were radio addicts; interested in his reason for resigning were cinemaddicts. Mr. Aylesworth attributed his resignation to press of work as chairman of Radio-Keith-Orpheum. Last year Floyd Bostwick Odium's Atla: Corp. and Lehman Bros, bought working control of RKO from RCA (TIME, Oct 21), soon followed this step by installing dapper Leo Spitz as RKO president (TIME Nov. 18). At the same time, RKO's President Aylesworth became RKO's Chairman Aylesworth, and RKO's Chairman David Sarnoff moved out. Observer thought that these moves indicated banking rather than radio influence in RKO affairs, were surprised last week that Mr. Aylesworth's burden continued to be s heavy.

Mr. Aylesworth came up through various public utility jobs to the managemen of the now defunct National Electric Ligri Association, spread propaganda for utility interests. In 1926 Owen D. Young selected him to head newly-organized National Broadcasting Co., thus made Mr. Aylesworth father of chain broadcasting.

New NBC president is Lenox Rile Lohr, whose 44 years have been devote more to war and engineering than to radio A Major in the AEF, he was cited for meritorious service in action, afterward served as executive secretary of the Society of American Military Engineers. He is best known as general manager of Chicago's Century of Progress fair.

Third name in RCA news last week was Joseph P. Kennedy, onetime (1934-35) Securities & Exchange Commission chairman. Mr. Kennedy accepted a special job to study proposed plans for RCA's recapitalization. The wireless company would like to trim down its massive capital structure, but the B preferred stock has $21.25 dividend accumulation which would cost $16,000,000 to pay up. Though the preferred has no back dividends it is capable at $55 a share and its retirement would require $27,000,000. There are also 13,000,000 shares of common on which no cash dividends have ever been declared. RCA stockholders agreed that their corporation could have found no better name. for their plan than President Roosevelt's friend, Joe Kennedy.

This file is automatically generated by a robot program, so reader's discretion is required.