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The Victor Talking Machine Company

Appendix IX

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"


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.
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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