For the television-set makers, who have been plagued by falling sales and big inventories, Admiral Corp. had some more bad news last week. The fourth biggest TV maker, Admiral held a warehouse sale for dealers to unload its 1957 sets at cut-rate prices before its new models come out in mid-June.
Admiral's sale was part of the industrywide drive to clear the shelves. After a disappointing Christmas, the industry's inventory of sets was 19% above a year ago. By May, thanks to production cutbacks, hard selling and price cutting, inventories were under last year's.
But the clearance had a painful effect...
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