<p><SPAN name="link2H_4_0035" id="link2H_4_0035"></SPAN></p>
<h2> I. THE STOCK PRINTER </h2>
<p>IN these modern days, when the Stock Ticker is in universal use, one
seldom, if ever, hears the name of Edison coupled with the little
instrument whose chatterings have such tremendous import to the whole
world. It is of much interest, however, to remember the fact that it was
by reason of his notable work in connection with this device that he first
became known as an inventor. Indeed, it was through the intrinsic merits
of his improvements in stock tickers that he made his real entree into
commercial life.</p>
<p>The idea of the ticker did not originate with Edison, as we have already
seen in Chapter VII of the preceding narrative, but at the time of his
employment with the Western Union, in Boston, in 1868, the crudities of
the earlier forms made an impression on his practical mind, and he got out
an improved instrument of his own, which he introduced in Boston through
the aid of a professional promoter. Edison, then only twenty-one, had less
business experience than the promoter, through whose manipulation he soon
lost his financial interest in this early ticker enterprise. The narrative
tells of his coming to New York in 1869, and immediately plunging into the
business of gold and stock reporting. It was at this period that his real
work on stock printers commenced, first individually, and later as a
co-worker with F. L. Pope. This inventive period extended over a number of
years, during which time he took out forty-six patents on stock-printing
instruments and devices, two of such patents being issued to Edison and
Pope as joint inventors. These various inventions were mostly in the line
of development of the art as it progressed during those early years, but
out of it all came the Edison universal printer, which entered into very
extensive use, and which is still used throughout the United States and in
some foreign countries to a considerable extent at this very day.</p>
<p>Edison's inventive work on stock printers has left its mark upon the art
as it exists at the present time. In his earlier work he directed his
attention to the employment of a single-circuit system, in which only one
wire was required, the two operations of setting the type-wheels and of
printing being controlled by separate electromagnets which were actuated
through polarized relays, as occasion required, one polarity energizing
the electromagnet controlling the type-wheels, and the opposite polarity
energizing the electromagnet controlling the printing. Later on, however,
he changed over to a two-wire circuit, such as shown in Fig. 2 of this
article in connection with the universal stock printer. In the earliest
days of the stock printer, Edison realized the vital commercial importance
of having all instruments recording precisely alike at the same moment,
and it was he who first devised (in 1869) the "unison stop," by means of
which all connected instruments could at any moment be brought to zero
from the central transmitting station, and thus be made to work in
correspondence with the central instrument and with one another. He also
originated the idea of using only one inking-pad and shifting it from side
to side to ink the type-wheels. It was also in Edison's stock printer that
the principle of shifting type-wheels was first employed. Hence it will be
seen that, as in many other arts, he made a lasting impression in this one
by the intrinsic merits of the improvements resulting from his work
therein.</p>
<p>We shall not attempt to digest the forty-six patents above named, nor to
follow Edison through the progressive steps which led to the completion of
his universal printer, but shall simply present a sketch of the instrument
itself, and follow with a very brief and general explanation of its
theory. The Edison universal printer, as it virtually appears in practice,
is illustrated in Fig. 1 below, from which it will be seen that the most
prominent parts are the two type-wheels, the inking-pad, and the paper
tape feeding from the reel, all appropriately placed in a substantial
framework.</p>
<p>The electromagnets and other actuating mechanism cannot be seen plainly in
this figure, but are produced diagrammatically in Fig. 2, and somewhat
enlarged for convenience of explanation.</p>
<p>It will be seen that there are two electromagnets, one of which, TM, is
known as the "type-magnet," and the other, PM, as the "press-magnet," the
former having to do with the operation of the type-wheels, and the latter
with the pressing of the paper tape against them. As will be seen from the
diagram, the armature, A, of the type-magnet has an extension arm, on the
end of which is an escapement engaging with a toothed wheel placed at the
extremity of the shaft carrying the type-wheels. This extension arm is
pivoted at B. Hence, as the armature is alternately attracted when current
passes around its electromagnet, and drawn up by the spring on cessation
of current, it moves up and down, thus actuating the escapement and
causing a rotation of the toothed wheel in the direction of the arrow.
This, in turn, brings any desired letters or figures on the type-wheels to
a central point, where they may be impressed upon the paper tape. One
type-wheel carries letters, and the other one figures. These two wheels
are mounted rigidly on a sleeve carried by the wheel-shaft. As it is
desired to print from only one type-wheel at a time, it becomes necessary
to shift them back and forth from time to time, in order to bring the
desired characters in line with the paper tape. This is accomplished
through the movements of a three-arm rocking-lever attached to the
wheel-sleeve at the end of the shaft. This lever is actuated through the
agency of two small pins carried by an arm projecting from the
press-lever, PL. As the latter moves up and down the pins play upon the
under side of the lower arm of the rocking-lever, thus canting it and
pushing the type-wheels to the right or left, as the case may be. The
operation of shifting the type-wheels will be given further on.</p>
<p>The press-lever is actuated by the press-magnet. From the diagram it will
be seen that the armature of the latter has a long, pivoted extension arm,
or platen, trough-like in shape, in which the paper tape runs. It has
already been noted that the object of the press-lever is to press this
tape against that character of the type-wheel centrally located above it
at the moment. It will at once be perceived that this action takes place
when current flows through the electromagnet and its armature is attracted
downward, the platen again dropping away from the type-wheel as the
armature is released upon cessation of current. The paper "feed" is shown
at the end of the press-lever, and consists of a push "dog," or pawl,
which operates to urge the paper forward as the press-lever descends.</p>
<p>The worm-gear which appears in the diagram on the shaft, near the toothed
wheel, forms part of the unison stop above referred to, but this device is
not shown in full, in order to avoid unnecessary complications of the
drawing.</p>
<p>At the right-hand side of the diagram (Fig. 2) is shown a portion of the
transmitting apparatus at a central office. Generally speaking, this
consists of a motor-driven cylinder having metallic pins placed at
intervals, and arranged spirally, around its periphery. These pins
correspond in number to the characters on the type-wheels. A keyboard (not
shown) is arranged above the cylinder, having keys lettered and numbered
corresponding to the letters and figures on the type-wheels. Upon
depressing any one of these keys the motion of the cylinder is arrested
when one of its pins is caught and held by the depressed key. When the key
is released the cylinder continues in motion. Hence, it is evident that
the revolution of the cylinder may be interrupted as often as desired by
manipulation of the various keys in transmitting the letters and figures
which are to be recorded by the printing instrument. The method of
transmission will presently appear.</p>
<p>In the sketch (Fig. 2) there will be seen, mounted upon the cylinder
shaft, two wheels made up of metallic segments insulated from each other,
and upon the hubs of these wheels are two brushes which connect with the
main battery. Resting upon the periphery of these two segmental wheels
there are two brushes to which are connected the wires which carry the
battery current to the type-magnet and press-magnet, respectively, as the
brushes make circuit by coming in contact with the metallic segments. It
will be remembered that upon the cylinder there are as many pins as there
are characters on the type-wheels of the ticker, and one of the segmental
wheels, W, has a like number of metallic segments, while upon the other
wheel, W', there are only one-half that number. The wheel W controls the
supply of current to the press-magnet, and the wheel W' to the
type-magnet. The type-magnet advances the letter and figure wheels one
step when the magnet is energized, and a succeeding step when the circuit
is broken. Hence, the metallic contact surfaces on wheel W' are, as
stated, only half as many as on the wheel W, which controls the
press-magnet.</p>
<p>It should be borne in mind, however, that the contact surfaces and
insulated surfaces on wheel W' are together equal in number to the
characters on the type-wheels, but the retractile spring of TM does half
the work of operating the escapement. On the other hand, the wheel W has
the full number of contact surfaces, because it must provide for the
operative closure of the press-magnet circuit whether the brush B' is in
engagement with a metallic segment or an insulated segment of the wheel
W'. As the cylinder revolves, the wheels are carried around with its shaft
and current impulses flow through the wires to the magnets as the brushes
make contact with the metallic segments of these wheels.</p>
<p>One example will be sufficient to convey to the reader an idea of the
operation of the apparatus. Assuming, for instance, that it is desired to
send out the letters AM to the printer, let us suppose that the pin
corresponding to the letter A is at one end of the cylinder and near the
upper part of its periphery, and that the letter M is about the centre of
the cylinder and near the lower part of its periphery. The operator at the
keyboard would depress the letter A, whereupon the cylinder would in its
revolution bring the first-named pin against the key. During the rotation
of the cylinder a current would pass through wheel W' and actuate TM,
drawing down the armature and operating the escapement, which would bring
the type-wheel to a point where the letter A would be central as regards
the paper tape When the cylinder came to rest, current would flow through
the brush of wheel W to PM, and its armature would be attracted, causing
the platen to be lifted and thus bringing the paper tape in contact with
the type-wheel and printing the letter A. The operator next sends the
letter M by depressing the appropriate key. On account of the position of
the corresponding pin, the cylinder would make nearly half a revolution
before bringing the pin to the key. During this half revolution the
segmental wheels have also been turning, and the brushes have transmitted
a number of current impulses to TM, which have caused it to operate the
escapement a corresponding number of times, thus turning the type-wheels
around to the letter M. When the cylinder stops, current once more goes to
the press-magnet, and the operation of lifting and printing is repeated.
As a matter of fact, current flows over both circuits as the cylinder is
rotated, but the press-magnet is purposely made to be comparatively
"sluggish" and the narrowness of the segments on wheel W tends to diminish
the flow of current in the press circuit until the cylinder comes to rest,
when the current continuously flows over that circuit without interruption
and fully energizes the press-magnet. The shifting of the type-wheels is
brought about as follows: On the keyboard of the transmitter there are two
characters known as "dots"—namely, the letter dot and the figure
dot. If the operator presses one of these dot keys, it is engaged by an
appropriate pin on the revolving cylinder. Meanwhile the type-wheels are
rotating, carrying with them the rocking-lever, and current is pulsating
over both circuits. When the type-wheels have arrived at the proper point
the rocking-lever has been carried to a position where its lower arm is
directly over one of the pins on the arm extending from the platen of the
press-lever. The cylinder stops, and current operates the sluggish
press-magnet, causing its armature to be attracted, thus lifting the
platen and its projecting arm. As the arm lifts upward, the pin moves
along the under side of the lower arm of the rocking-lever, thus causing
it to cant and shift the type-wheels to the right or left, as desired. The
principles of operation of this apparatus have been confined to a very
brief and general description, but it is believed to be sufficient for the
scope of this article.</p>
<p>NOTE.—The illustrations in this article are reproduced from American
Telegraphy and Encyclopedia of the Telegraph, by William Maver, Jr., by
permission of Maver Publishing Company, New York.</p>
<div style="break-after:column;"></div><br />