Business & Finance: Radio & Phonographs

Owen D. Young, chairman of Radio Corporation of America, sailed with Mrs. Young last week for a holiday in England, and would not explain. General James G. Harbord, R. C. A.'s president, compressed his lips into silence. President Edward E. Shumaker of Victor Talking Machine Co. let a mask of diffidence hide his thoughts.

Nonetheless investors bought R. C. A. and Victor stock during the week upon the report that the two firms, leaders of their respective fields, would form—not necessarily a merger but—a closer technical and commercial alliance than has bound them together...