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<br />Contral Corporation has begun t� market electronic digital computers for ���
<br />automatic contral in these fields. These computers are manufactured by
<br />our Computer Division.
<br />_ N�W FINANCING AFTER YEAR END ��'
<br />On July 26, �.9G0, the Company, through �n underwriting syndicate
<br />°� � managed by Dean Witter & Co., sold 125,000 shares of common stock. The
<br />net proceeds ta the Comp�ny from this underwriting were approximately
<br />��,�i10,000. The proceeds were used to i•epAy outstandi�g bank loana and
<br />- the balance wus adcler� to the Company's general funds And is being used
<br />�s working capital €�nd for other corporate purposes. Youa� management
<br />believed this ��ditianal working cApit�l necessary ta finunce it� expanding
<br />voiume o� bu�ine�s �nd ta provide ftexibility fn its operations. Th�e Com-
<br />p�ny has initiated s� pr��ram of leu�in� �;� well as selling its camputers
<br />wh�ch �equire� a lr�t�ger cnsh investment.
<br />S�ERRY RANa LETf�A'iION
<br />A� �ar�,�viausl� r��rted, i��ul action wn� initiatec� by Sperry RAnd
<br />Car�roratio� ��s��inst ContrAl D�t� Car�c�r�tion in the United St�te� Dis-
<br />tr�ct CQurt in 1ltinne�poli� durin� April, 1968. The r��tinn Churg��i th�t the
<br />�omp���y ar�� u�fn� �p�rry Ranc� tr�c�e secrets and �eek� rrn inju�etio»
<br />� ��a�nst �id ��e. 'The c�m�Inint ,��v� �niy � viagu� c�e�cription o� the
<br />�ile� t�r�� se�rets. In respon:�e ta interro�nt�ri�� fi�ec� wtth th� C�urt,
<br />�, Sp��r� I��d fut�niah�! ����t �f secrct� �vh�ch it i�elieve� t:h�t th� Corn-
<br />_.�,,�- ', p�►►my� � u��ng ar ��o�u�� � to t���.
<br />� ' ,�►t � he��ing on ,�u�ust 1, 1J�0� Spe�rr�► F��ncl xnov�d the �tiurt t� :�
<br />_ i��� ���mpor�ry inj�r��t�i�n� �er�,jc�i�nln� th� �ompnn�r from $c�� usin� �ive
<br />_ s��ifl� �t�m� �1te�e�I to be �r�d� �prrct.�» (la} �rnplay�in� r��t�i mor� �r-
<br />��t�n�I fr�m S�err� l�nd; �nd (�� m�r�Ing u�I�}i a�n� c�xn�titor of S�erry
<br />�tand. �'hrs c+�u�� �I1�w•et1 ��a�h {�ur�te:� to f�le briefa, but to c��t� htt� r��t ri�l�d
<br />o�n �h� m���r.
<br />, � A� w�� �t;�t�d �n o�ar pr���iou� �ax�«�c� r����t, "tla� �om ��ny i� �ieve�ap-
<br />�n� equipm�nt ��►hi�h tt�n� �sm�et� ��itt� �+�z•4:��n ii�ms �rc�r�ti�ced U�► S�rry
<br />h - Rat�d, ��� +ofl�e�r� �� �}�� (�ompt�n�° betieve thnt 1�he�e ��v�l�pment� �;��I� 1�
<br />� �. �cc�n�p���h� �� � re�iilt ai �he t��hnic��l �t�il�t�e� aF �he G�mp�r��'� �n�t-
<br />�e�rir�� ax�n[�;��on �nd n�� Cht�aii,�h the us� of S�rr�r �a�cl's ��l�geci
<br />� �r�d� ��ret�e" 'x'hi� t�i��f �tf�l �r�v�il��
<br />�� c��#�� h�� �er� ��t far �h� tri�l �t th� ���Q� at�hou��t it i� �nt�ci-
<br />#.�
<br />pa�� �h�►t ��#�l wil� Ix� h�lci ��m� fi�im� dur�n� t�� w�nt�r �� 2���-aI. -
<br />,. . :
<br />- ,�,_ �U";'�l�E
<br />�'Yhit� �e ��c� tn h��►� increi�e� cona��ti�ion f�� mare con��nni��s
<br />+�nte� �he m�,rk�� ��a a�r��e� ��•c� �i�c� th� fut�ure «�ith ��timi�m. Qur rn�j��
<br />�n��k�t �r��s ara� ��en��n�u�r�� t� Qx�+ �ci ��� tn� ��sc� of �lec�x•�ni� ��t��c�t���
<br />t � , ir�c��s�. 4�t�r ���ht�ic�cl ��f� ���aLi����g ta ��w, �ur ���e� or���nix���on ia
<br />} , ��►�nd�n�, �nd �r� �r� ir� � �tr��� �#�n�ne��l pn��ti�n. 'T}��s� �'rlci�r� �cicl �p _
<br />, � t� aot��in��d pxa�i��bl� �rowih ��r �Qntrc�l A��.
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<br />FM', S�pt�mb�x �, 1960 �'Villic�m C. Norri�, Fz°eaid�nt
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