Word: patterson
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...when the pinspotter was well along, Patterson saw that one more royalty-producing machine was not enough. The wild swings of the machinery industry had to be counterbalanced with some consumer products. Furthermore, A.M.F. was shocked to discover that it was not good enough to get prime war contracts, but only subcontracts. The average age of the engineering staff was 55 years by war's end. Said Patterson: "Small companies in that position have died of hardening of the arteries...
There was no doubt in the mind of A.M.F. President Morehead Patterson that the machines would do just that. Bowling is already the fastest-growing participation sport; the machines should give it a big boost. They not only replace hard-to-find pin boys but they enable bowling alleys to stay open 24 hours a day, a big advantage in industrial communities where teams on different shifts bowl round the clock. Already A.M.F. has installed more than 800 in bowling alleys, plans to step up production to 250 per month next year. Even so, it will take years to supply...
...symptomatic of the revolution that has taken place in the American Machine & Foundry Co. Formed in 1900 as the cigarette machine-making subsidiary of James Duke's tobacco trust, A.M.F. became an independent firm after the trust was broken up in 1911. Under the presidency of Rufus Lenoir Patterson, who had been an American Tobacco Co. vice president, A.M.F. developed the first cigarmaking machine. With a patent monopoly in the field, A.M.F. was able to charge the entire cost of the machine (about $4,800) upon installation, then collect a royalty of $1 for every 1,000 cigars produced...
...Morehead Patterson (Yale '20, Oxford, and Harvard Law School '24) joined his father's firm in 1926 after he had taken a one-year fling at the law. He watched the company, with its cushion of royalties, sail through the Depression, paying dividends every year. But he decided that no company could expect to live on its patents forever. Says Patterson: "We could tell by 1938 that after 1946 we were going to have dividends of only half of what we had been counting...
...ends have been the only relatively weak spots in the line--neither starter caught a pass through the first four games of the season. The left end will be Jim Patterson, a sophomore, who saw varsity action last year, but whose nearest attempt to a pass completion was a pass interception...