Business: Deals in Radio

Last week Radio Corp. of America approximately doubled its number of shares outstanding, divided its new shares between General Electric Co. and Westinghouse Electric & Manufacturing Co. In so doing Radio Corp. gave the two electric companies a majority of its stock, and in return received from them patent rights and manufacturing facilities essential to the production of radio sets. Although David Sarnoff, president of Radio Corp., called upon President Hoover, presumably in connection with the transaction. and although Senator Clarence C. Dill, Democrat, of Washington demanded an inquiry by the Department of...

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