1962

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General information

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Commodore logo as of 1962: cursive company name

Commodore was operating as a supplier of office machines for small and medium sized businesses. Commodore's main product lines in 1962 were portable typewriters and adding machines being sold in Canadian department stores such as Robert Simpson, Simpson-Sears, Eaton, Hudson Bay and many others. In the United States, Commodore Business Machines, Inc was leasing space in top department store chains such as Macy's and Bamberger's, Gilcrist and Litt Brothers. These departments were staffed by Commodore's own personnel.

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Leased Commodore retail location
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Leased Commodore retail location
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Leased Commodore retail location
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Leased Commodore retail location

Commodore expanded into the field of copying machines by creating two new subsidiaries: Commodore Drycopy, Inc. (New York) and Commodore Drycopy, Ltd. (Toronto). Commodore studied the three major copying technologies of the day: diffusion transfer, electrostatic and thermographic, and decided to enter the thermographic market. There were already over 100 different manufacturers of diffusion transfer copying machines so competition would be harsh in that market and the electrostatic method was considered to be too expensive for the small to medium sized business customers. Further, the thermographic machines required special thermal-sensitive transfer sheets which Commodore saw as a recurring revenue source well beyond the initial sale of the copying machine.

Notable company events

  • Commodore Portable Typewriter Company, Ltd was renamed to Commodore Business Machines (Canada), Ltd and converted to a publicly traded company by Supplementary Letters Patent on February 7, 1962.
  • The first public offering of the company's shares was made on June 29, 1962 and consisted of 300,000 common shares offered at $2.50 each, listed on the Canadian Stock Exchange of Montreal. This offering was underwritten by the Toronto brokerage firm Barrett, Goodfellow & Company.<ref>Report of The Royal Commission Appointed to Inquire into the Failure of Atlantic Acceptance Corporation Limited, p.323</ref>

Products

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Commodore products in 1962

A full list of all products is not available, but the Commodore Drycopy, "Quick" electric adding machine, a mechanical adding machine and the newest designed portable typewriter were highlighted in the 1962 annual report and are shown in this picture.

Revenue and profit

Revenue $3,575,419.29
Net profit $150,938.34

Officers and Directors

Jack Tramiel President
Manfred Kapp Secretary-Treasurer
Benjamin Oremland Attorney
Harry Wagman Certified Public Accountant
Carman George King Investment Dealer
Carl Morton Solomon Solicitor


Corporate entities and subsidiaries

Location Corporate Entity
Toronto, Ontario Commodore Business Machines (Canada) Ltd.
Commodore Drycopy Ltd.
New York, N.Y. Commodore Business Machines, Inc.
Commodore Drycopy, Inc.

Annual report to shareholders

June 30, 1962: Commodore Business Machines (Canada), Ltd. Annual report to shareholders

References