Numerically-coded teletype tape held by Louis B Van Dyck, manager of corporate accounting for the General Electric Company, is placing old fashioned peg strips in front of William J. McCullough, supervisor of consolidations for the company. The tape receives coded financial statements from GE's 13 plants in 101 cities and 24 states and from its International Business Machines punch cards from which it profit and loss and balance sheet statements are speeded to the desk of GE's top executives. Time ordinarily lost in mailing reports to Schenectady is saved by overnight teletype service on GE's lease wires, thus permitting all plants to close books the same day. The tape-IBM system also eliminates hours of adding machine work and cuts down on toll calls formerly necessary to take reports delayed or lost in mails.

General Electric Company1953-09-08