2009.006

Lukacs, Claire

Gift

Museum Collections. Gift of a friend of the Museum.

1967 - 1967

Date(s) Created: 1967 Date(s): 1967-1967

Not Rated

Notes: Archives 2009.006.0022.03 Partners in Creating. The First Century of K+E [Keuffel & Esser] 1867/1967. text only of pages 31 to end see archives 2009.006.0022 for primary record and text from beginning to page 15 see archives 2009.006.0022.01 for text of pages 15 to 25 see archives 2009.006.0022.02 for text of pages 26 to 30 === ==== page 31 It was a system that was to change completely the traditional methods of map preparation. Starting with such groups as the Army Map Service of the federal government, it soon became the standard method for the preparation of precise maps. One surface in particular was to change the traditional methods of drafting and map-making more than any idea since pen and papyrus. This was stabilene Scribe Coat film. Scribe Coat film, in which a line is incised into the surface with a special scribing tool, led to a dramatic new idea in drafting technique — undimensioned drafting. All of the parts and components of a complex manufactured unit such as an airplane, were drawn exactly to size, relying upon the ultra-stability of Stabilene to maintain dimension to the thousandths of an inch. The result was such a perfect fit in assembly that engineers were amazed. Today virtually every major aircraft manufacturer uses the stabilene technique. Its use is so widespread in industry that every one of the government's standard industrial classifications is represented as a customer. Within the fifties, K&E was to introduce another system with great practical value for the engineering profession — the Micro-Master® 105 mm microfilming system. With its 4x6" negative size, superb camera and projector optics, automatic features such as pushbutton focus control, and a full complement of accessory equipment, the Micro-Master 105mm idea found ready acceptance from systems engineers, who were sold on its full range reproduction capabilities. A systems approach to all product lines resulted in major growth for K&E during the fast moving years from 1945 forward, a time when Branch offices multiplied rapidly, plants were decentralized and added to, and the product line grew by thousands of items. ---- [caption top photos] K&E, following the new trend toward systems engineering, produced a complete microfilm system from camera to components. ---- [caption for full page illustration on page [30]] Enormously complex projects such as the missile and space programs fostered a new breed of systems engineer. ==== page [32] caption for full page photo of satellite: Television satellites brought a new immediacy to communications. ==== page 33 The "Global Village" Once, it's been said, only a handful of people understood Einstein's theory of relativity, yet in the sixties they teach it in Freshman engineering. That observation attests to an important new trend in engineering, and of new attitudes and goals which were to transform K&E as it neared the end of its first 100 years. The engineer through history was first and foremost a pragmatist, a practical man, working out his ideas by actual test, then improving them. But the new engineer was more — he was scientist, mathematician, and an adroit manipulator of the most remarkable engineering tool of all time — the computer. Under the presidency of Carl W. Keuffel, himself a scientist-engineer, and later under M.I.T. graduate Alfred E. Busch, K&E also began to move toward a strong science orientation. Theory joined practicality, with implications for an exciting new generation of engineering tools and materials. The world grew smaller by the day. Communications satellites brought a new dimension to the immediacy of television. Knowledge itself, with the information output increasing by an order of magnitude each year, threatened to outrun man's ability to absorb it. A new challenge arose to classify and speed access to this vital resource, perhaps with global information networks. In the words of one commentator on the sixties, we were all living in a "global village." For K&E, it was an environment of excitement, growth, and the challenge to change. Perhaps the most decisive change of the young sixties was the company's decision to become a public corporation in September of 1965. From an exclusively family ownership, share-holders could now participate in K&E growth, and an entirely new audience could learn about the work of the 98-year-old youngster. Thus the company came to its Centennial year, 1967. Poised on the threshold of another 100 years, it was enjoying its most rapid growth period. A humble start had launched the company. A dogged determination to perform nothing but quality workmanship — no matter how insignificant the product — had sustained it. New strength and scientific discipline had toughened its sinews for the future. A corporate citizen of the global village, K&E was ready and eager to move — into Century II. ---- [caption for photo left] The date of this Prospectus is September 14, 1965. [text from this photo illustration of prospectus] 290,000 Shares Keuffel & Esser Company Common Stock ($1 Par Value) THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION NOR HAS THE COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. Of the shares offered hereby, 250,000 shares are being offered to the public by the several Underwriters, who are purchasing 160,000 shares from the Company and 90,000 shares from a Selling Stockholder. The Company will not receive any of the proceeds from the shares being sold by the Selling Stockholder. See "Selling Stockholder." The remaining 40,000 shares covered by this Prospectus are being offered by the Company to its employees, as set forth under "Offering to Employees." The offering to employees is not underwritten. Prior to this offering there has been no market for the Company's Common Stock. The price at which the Common Stock is being offered to the public was determined by negotiation between the Company, the Selling Stockholder and the Underwriters. Price to Public Underwriting Discounts and Company(J) Proceeds to Selling Stockholder) Per Share 1 $26.00 $1.50 $24.50 $24.50 Total I $6,500,000 $375,000 $3,920,000 ; $2,205,000 (/) Be/ore deducting expenses payable by the Comoany, estimated at $110,000, and transfer taxes payable by the Selling Stockholder estimated at $950. The above table relates only to the 250,000 shares being offered to the public. The remaining 40,000 shares are being offered by the Company to its employees at a price of $23.40 per share. If all such 40,000 shares are sold, the Company will realize proceeds of $936,000 in addition to the proceeds shown in the table. No underwriting commissions are payable with respect to the shares offered to employees, and any shares so offered which are not purchased by employees will not be issued by the Company. The shares of Common Stock offered to the public by the several Underwriters are offered when, as and if delivered to and accepted by the Underwriters and subject to their right to reject orders in whole or in part. It is expected that the certificates for such shares will be readv for delivery on or about September 21, 1965. The First Boston Corporation ---- [caption for full page photo of satellite on page 32] Television satellites brought a new immediacy to communications. ==== page 34 Where We Have Been... Where We Are Going A s Keuffel & Esser Company reached the / % considerable age of 100 years, management -X. A paused to reflect briefly on roads already traveled, and on the horizons distantly ahead. Certainly the century 1867-1967 was the period of greatest change in human history. And nearly every expert agreed that the next century would advance even more rapidly, as unbelievable as that seemed. To help chart its future course, and to pay homage to the great engineering achievements of the past, K&E conducted a survey among engineering leaders, asking them to consider: • The 10 most significant engineering events of the past 100 years . . . the turning points in the Age of Technology. • The 10 events of a similar nature which would set the course of engineering in the coming century. Members of the honorary National Academy of Engineering, deans of engineering colleges, editors of technical journals, and prominent executives and scientists considered these questions and recorded their answers. The results attracted national interest and were reported in the New York Times and dozens of other newspapers and magazines throughout the United States and Canada. In viewing the past century, the engineering experts voted for a list of brilliant achievements. Each in its way profoundly changed the course of human events; and each, to the extent that its impact would be felt so strongly, was largely an unexpected occurrence. Here are the ten events, in order of ranking: 1. The Wright Brothers' first powered flight (1903); 2. The first nuclear chain reaction (1942); 3. The telephone (1876); 4. The internal combustion gasoline engine (1886); 5. The incandescent light bulb (1879); 6. The transistor (1948); 7. The computer: the differential analyzer (1930) and Eniac (1946); 8. Television — the electronic scanner (1928); 9. The laser (1960); and, 10. Refrigeration (1873). K&E could say: we have served the engineer every step of the way, and what a journey it has been! From the forecasts of the next 100 years, a fascinating picture emerged of a new world of technological mir- ---- [caption photo right] Orville Wright flies in Europe, 1908. The Wright Brothers' epic flight at Kitty Hawk in 1903 was voted the outstanding engineering achievement of the past century. [uncaptioned photo lower right of newspaper clippings] ==== page 35 acles, many within reach in the next few decades. Among the events foreseen were: • Immediate and drastic changes in the ways we travel over the surface of the earth — cities linked by ultra high-speed trains; automobiles powered by fuel cells or energy sources other than gasoline; the flow of traffic regulated by computers; automated turnpikes in which control of the vehicle is entrusted to machines. • Control of weather and climate, including the development of a great many presently uninhabitable portions of the world such as the polar regions. • Space travel, and colonization of the planets. • A world powered by new energy sources, chiefly nuclear and solar. Perhaps even a solution of the mystery of gravity and the development of "anti-gravity" as a source of propulsion. The transmission of electricity by wireless methods, eliminating cables and wires. • A vast, world-wide network of information libraries, electronically controlled, to provide immediate access to knowledge on any subject. The evolution of a useful world language to bridge barriers in communication. • Control and creation of life. Great advances in the replacement of faulty human organs and other parts (hearts, lungs, kidneys, arms, legs) with man-made machines that do the same job. • Great strides in the farming and mining of the ocean, including underwater colonization on a large scale. • The computer becoming an even more useful servant of man, greatly expanding his mental capacities, with a vital effect on education. Eventual "man-machine symbiosis" in which the two intelligences are combined. The engineering leaders in the survey were optimistic that the world's problems of food, conservation of resources, control of air and water pollution would be faced and solved. They were optimistic that man could live without war, and prosper on the earth. Perhaps out of a desire to bring the rationality of the scientist into human affairs, they foresaw that the technical community would play an ever more important role in society, a dynamic "new class" contributing to the social sciences and government as well as to industry. ---- K&E President Looks to the Future "My sincere hope is that K&E today, and increasingly in the future, will be a company with an open ear for any new idea, with the brains and hands to make that idea into a practical working tool, and the zeal to take that product into the marketplace, even if it means outmoding present product lines. "No matter what aspect of the future we consider, we can see opportunity. We can see a continuing, important role for the company that supplies the dynamic, inventive engineering profession with the tools and materials it needs. "We have been that company for 100 years, and we intend to be that company for the next 100 years." Alfred E. Busch, at Annual Meeting of Stockholders, April 27, 1967 ==== page 36 n.b. full text of this chart is present but not in its original format due to database formatting limitations. Engineering Milestones Year K&E Growth Dynamite (Nobel) Reinforced concrete 1867 K&E founded (Monier) Mount Cenis Tunnel, first through Alps 1871 K&E starts manufacturing in Dutch Street, New York City Refrigeration 1873 K&E opens its first (Von Linde) retail store Telephone (Bell) 1876 K&E headquarters 1878 building erected at 127 Fulton St., New York City Incandescent light (Edison) 1879 1880 First K&E factory building erected Brooklyn Bridge completed 1883 First slide rules First "steel skeleton" imported building (Jenney) Parsons' steam 1884 Second K&E factory turbine building erected Daimler's gasoline engine Electrolytic aluminum extraction 1886 (Hall, Heroult independently) First manufacture 1891 of slide rules First K&E branch — Chicago Headquarters at 127 Fulton St., enlarged to 8 Diesel engine 1892 stories First K&E catalog in Spanish Wireless telegraph (Marconi) 1895 X-ray (Roentgen) San Francisco branch 1900 opens Second and third factory buildings erected Airplane (Wright Brothers) 1903 K&E's new reinforced 1907 concrete factory buildings erected Plastic (Baekeland) 1909 Panama Canal completed 1914 1916 Optical glass made at K&E Rocket (Goddard) 1926 Engineering Milestones Y ear K&E Growth Television — electronic scanner 1928 (Zworykin) Differential Analyzer (forerunner of 1930 modern analog computer) Radar (Watson-Watt) 1934 K&E research and 1935 testing laboratories reorganized and enlarged Helicopter (Focke) 1937 Jet propulsion 1939 K&E enters emer- 1941 gency wartime programs — greatly expands production Atomic pile (Fermi) 1942 K&E wins its Seventh 1945 Army-Navy "E" for efficiency ENIAC, first all- electronic digital computer 1946 (University of Pa.) Transistor 1948 1950 K&E active in optical metrology Artificial satellite, 1957 Sputnik 1 (U.S.S.R.) K&E begins major Atomic submarine, 1958 expansion of R&D in Nautilus (U.S.A.) optics, electronics, and chemistry New wing of K&E Laser (Maiman) 1960 central chemistry laboratory opened 1961 K&E enters in audiovisual field K&E increases activities in photogrammetry K&E intensifies international marketing activities Mariner— Mars 1965 First public offering photography (U.S.A.) of K&E stock Greatest sales and 1966 earnings year in history of company K&E celebrates its centennial, breaks 1967 ground for new Home Office & Research Center ==== [inside back cover, illustration] Architect's rendering of the new K&E Home Office and Research Center to be built in Morristown, N.J. ==== ==== Status: OK Status By: dw Status Date: 2009-04-07