US1881585A - Quotation board printing unit - Google Patents

Quotation board printing unit Download PDF


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US1881585A US535065A US53506531A US1881585A US 1881585 A US1881585 A US 1881585A US 535065 A US535065 A US 535065A US 53506531 A US53506531 A US 53506531A US 1881585 A US1881585 A US 1881585A
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Hoover Ray
Evan R Wheeler
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Western Union Telegraph Co
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Western Union Telegraph Co
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    • H04L12/00Data switching networks
    • H04L12/02Details
    • H04L12/16Arrangements for providing special services to substations
    • H04L12/18Arrangements for providing special services to substations for broadcast or conference, e.g. multicast
    • H04L12/1804Arrangements for providing special services to substations for broadcast or conference, e.g. multicast for stock exchange and similar applications


Oct. 11, 1932. R. HOOVER ET-AL QUOTATION BOARD PRINTING UNIT Filed May 4; 1951 4 Sheets-Sheet 1 FIG. 4
fi l\ m m iiii ow A no 7 5 RE F H H H H L L w J .W J m m IMW TW- I I u. w W 4 I 15 68 6 U mwflffi .L B?- W6 I n|/. V Mm M I l ll llll Oct. 11, 1932. R. HOOVER ET AL QUOTATION BOARD PRINTING. UNIT 4 Sheets-Shet 2 Filed May 4, 1931 FIG. 2
avwantozs R H 00V E R E.R.WHEELER 5M {.Gdm
Oct. 11, 1932. HOOVER ET AL QUOTATION BOARD PRINTING UNIT Filed May 4. 1931 4 Sheets-Sheet 3 FIG. 3
anveuto'zs R. HOOVER E.R.WHEEL.ER
Oct, 11, 1932. R, HOOVER ET AL 1,881,585
I awuentozs R. HOOVER E E. R. WHEELER I36 33 Gum,
oonrone'rron or NE YORK QUOTATION BOARD PRINTING UNIT Appl ication filed May 4,
This invention relates to a quotation board mechanism for automatically printing in visible form information concerning difierent items, such as stock, bond, and commodity quotations in response to telegraphic signals, and more particularly to apparatus which inaddition to displaying information of the usual character, such as quoted market value,
can, when desirable be operated'to indicate 'matically posting stock quotations at a plurality ot' separate places, such as brokers otfices and banks, tr m a common transmitting point, involves the use of four channels of communication extending between the transmitting station and the receiving station embodying the quotation board apparatus, separate channels being employed to transmit signals correspondingto each of the hundreds, tens, units, and fractions (in eighths) value or digits of the quotations. The tour transmitting channels may comprise four separate line wires or two line wires, each having'battery of positive and negative polarity applied alternately thereto in a series of impulses, in conjunction with polarized relays at the receiving station for responding to the polarity of the current transmission from adistant initial orsendingstationmay be accomplished over a single wire to a local decoder or repeater station from which the various channels or lmpulses 1931. Serial No. 535,065.
are separated and sent out to the various quotation boards. Or again the single wire may go directly to the subscribers cabinet'where a decoder separates signal channels and transmits them to the quotation board mechanism in the usual manner.
Quotation boards as heretofore constructed employ a group of four indicating units,
each having a dial or drum bearing the nu merals 1 to 9, O and a blank, four units being disposed side by side behind suitable apertures so that when properly set up the numerals on the dials may be directly observed to give the quotation. Ordinarily, five of such groups of indicators are provided for each stock or item, corresponding to the quotation ranges chosen to be posted, such as yesterdays close, open, high, low, and last quotations of the stock, and signals are transmitted to the quotation board to operate these at appropriate times. On the other hand, the number of range signals transmitted is by no means limited to five. Other signals representing any combination of the above ranges or signals to indicate bid, ask, up, and down or any other desirable range or other information may be transmitted.
In an arrangement described and claimed and apparatus, filed May 9, 1930, Ser. No.
451,1t0, and assigned to WVestern Union Telegraph Company, it has been proposed to use,
in place of one or more of the five range groups of indicators provided for each stock. a printing unit which shall make the information visible in printed form on a paper tape or other sheet material. Ordinarily the group of indicators corresponding to the last quotation will be displaced by the printing unit. This arrangement enables the consecutive quotations to be kept in viewfor an extended length of time as new quotations are being printed on the tape, and thus indicate what is termed the trend of the stock being quoted upon.
It will be observed that in the quotation board system as above described, there is included among the groups of indicators for high and low ranges.
vconsecutive quotatlons occur in printed form,
thevarious stock ranges a group for the However, when as for instance, on a strip or tape of paper,
a person referring to the information displayed'thereon inorder to casce-rtain tlie trend of the stock being quoted upon, would 11nd that the information would be more useful if there were means printedon the tape ior in dicaiting sech-quotationsas represented a new high or a new low a bid or asked or other speclal value. Although each new high, low, bid, or asked or other value could be indicated .in.a systemhaving the required number. of stock range indispecial-value. For accomplishing this asuitable arrangement may be employed for dis- ,phi-yliing a character indicating such information :along with the zchara cters indicating the value of theiquotation. 1 v More particularly, therefore, it is .an obejectof our ainventionto provide :a quotation board unit adapted to be used in a sysitemv'such as described in the-above mentioned applications which will have means to display an indication "along with the quotation -;displayed :by ssuch unit, which will signiiy that the quotation is of an unueuaioharacter, filor e'aanaple, that itrepresents anew high :a new low, a bid, or asked or other quotationof specialsignificanceior value.
This :may be accomplished in aprinting nnitby providingan arrangement ,for mounting an H, L, a B or-a-n A or other character so that they may he moved into printing position and by providingv electromagnetic actuating means responsive to .the
. h low or other special range selectingsignail to selectively bring any desired character tlnto (print-in g -position. I ,Thererore another Ob]6.Ct of our invention is to FP'IlQViCiG inn printing unit means to print an H, L, B,Aor other spccialchan lacter with or :as :a part eof the quotation, and which an ay be selectively brought into action to print a predetermined one of .thespecia-l characters to designate (the rai-ige -01" any zetherspeciad characteristic of the quotation,
.Still another object is to provide a mechanism responsive to certain selective signal impulses for causing a predetermlned special characterto be printed.
A stillfurther object is to provide a special control arrangement -vvhich willact in response to certain rangezsignal impulses to effect printing from the special characters simultaneously with the printing of the nu1ner- 'ical characters. 7 i These and other objects areefl'ected icy our invention,=a:s will be apparent 'iirom 'the following description and claims taken in connection with the accompanying drawings .which .form apart of this application, in which: I
= Fig. l is a viewi-n elevation of the front of the itype pninting unit :showingithe tape "carrying elements; 7. 7
Fig. :2 is a View in elevation :of the side of the printing unit showing the mechanism employed to print the special type characters Fig. -3 isa side elevation of the type Wheel unit employed *for printing the numerical characters;
Fig. 4 .is a.-side;eleuation "of the opposite side of the type wheel to that shown in 3, showing the control commutator arrangement; r Fig, 5. is a view in plan of .a part of the type wheel unit showing the relation ozf the special character mechanism to the adjacent rt-ype wheeliunit; 1
' Fig.6 is a diagrammatic view in elevation 'oia modification of our invention showing the special type characters carried on .a single element;
Fig. 7 is :adiagrammatic view ofasection of a quotation iboard illustratingthe quotations as :they :are printed on the tape and Fig.8 is a circuit -.diagram for "the printing unitshowing only the portion immediately associated @therewiith. j
:the quotation board systern 'describedin our :aitorelnentioned :copending application entitled, Electrical selecting and indicating system, :a :train of signal impulses comprising three groups is employed to operate the quotation boardapparatusrfor properly posting each quotation. Thesignal train comiprises .a selector group which selects the group of indicators in the quotation board allotted to the stock or commodity being c uoted upon and which :turther selects the proper range indicator, such as yesterdayh close, high, low -etc., a restoration group for bringing theisel ected indicators to a unison position, and an answei group for setting up the quotation on the indicators.
According to the'present .inventi'on we propose to 'use'the same typeiof signal .train to op- :erate the printing unit. -=Oneor-1nore of the digits representing the numerical pant ofa quotation is set up and printed by .a group of type wheels in substantially the same .-ma.-1-i-ner [as describedin-the aforesaid Hooverfet al. ap-
stituted for the last range indicator.
cluded in the selector group of the signal impulse train for the purpose of selecting the high, low or other set of range indicators in the system described in our aforesaid application. In our present invention this signal selects, in addition to the indicators, a circuit which will cause the special type character to be set up in printing position, according to whether the selecting signal is one which selects the high, low or other set of indicators. After being set up the special type character remains in printing position until after printing is effected. In the description of our invention a quotation board arrangement using special characters to designate the high and low range values only has been chosen as illustrative of the principles involved. The characters most commonly used are the letters H and L and these are used in the description. It is to be understood, however, that any other agreed symbols may be used instead of H and L to designate the range values.
Referring now to the drawings we show in Figs. 1, 2,'and 5 the preferred form of the printing unit 10 in which a plurality of type wheel units 11 are employed forprinting the numerical-value of the quotation, and a special arrangement employing type carrying sectors 12 and 13 forprinting H or L, in addition to the numerical characters when such quotation represents a high or low value.
L. This mechanism includes, in its pre ferred form, the pair of sectors 12 and 13 pivotally mounted on the shaft 14, which shaft. also passes through the axis of the i type wheels. The sector 12 is arranged to carry theletter H on a face formed at the outer endthereof and the sector 13 the letter L on a face at theouter end thereof. The sectors are arranged to carry their charactors in line with characters on the rim of the type wheels, or in such position that when the sectors are set in printin aosition the characters will be on substantially an even line with the characters presented by the type wheels. A pair of operating magnets 15 and 16, one for each sector, are supported at the outer end of a framework 17 and are arranged to swing the type carrying sectors into and out of printing position. The magnets 15 and 16 each have similar, pivotally mounted'armatures 18 and 19 joined respectively to arms 21 and 22 extending back toward the axis of the sectors 12 and 13. The
sectors have arms 23 and 24 extending from the pivotal axis of the sectors to engage the actuating arm of the respective magnets. The actuating arm of each magnet and the arm of the corresponding sector are operatively connected together by a pin 25 and slot 26 or other suitable connection.
The H type character is carried by the sector 12 normally held toward the front of the quotation board when out of printing position and is connected through the arms 23 and 21 to the actuating armature 18 of the upper magnet. The type character L is carried by the sector 13 normally held away from the front of the quotation board when 3 it is in non-printing position and is connected through the arms 24 and 22 to the actuating armature 19 of the lower magnet.
The arrangement is such that when one of the magnets is selected, it receives an operating impulse which causes the armature to be drawn inwardly toward the core of the magnet carrying the actuating arm upward or downward, as the case may be, which corresponding type carrying sector with it and rotates the sector about its pivoted aXis to bring the sameinto vertical position presenting the type character on line with the characters of the type wheels. At the outer end of each type sector is a projecting lug or arm 27 which engages a notch 28 in a dog 29 carried by a rack member 31 and held down by a spring 32. The notched dog 29 is arranged to hold the type carrying sector 12 or 13 in a vertical position against the tension of a spring 33 tending to return the actuating arm 21 or 22 to normal position. The dog is arranged to maintain the sector in a vertical position until the rack 31 is moved upward against the tension of the spring 32 allowing the lug 27 to escape; This rack is moved to disengage the dog by the printing mechanism at the end of each printing operation, as will be presently explained.
Any suitable type of type wheel may be employed for printing numerical part of the quotation. For the purpose of illustration, We have shown in Figs. 1, 3, 4 and 5.
type wheel units similar to that described and claimed in the copending'application of R. Hoover entitled Stock quotation boards. filed April 3. 1931. Serial No. 527.588, and assigned to The lVestern Union Telegraph Company. Each unit comprises a framework 35, a type wheel 36 carried at one end of the framework, and an operating magnet 37 carried at the other end of the framework. The type wheel 36 is rotatably supported on a hollow sleeve member 38 exste'mlinggfbetween the side'sgil and 4. 1501 the framework.
,carrying sectors 12 and The sleeve inember'. 38 surrounds the shaft orstay rod member Meir tending between thexsiicles 43 and 44 of the printing unit housing. 'lhe stay rod 14 also forms the pivotal axis of the special type A ratchet Wheel 4'5 is mounted. co-axially with'the type wheel atone side thereof and a control commutabrushes 47 and 481at the other side thereof,
tor 46 (Fig. 4%) with suitably connected 7 both being operatively connected to the type wheel. p
Each type wheel has eleven flat faces formed on its rim. Ten of the faces bear the numerical characters 1 1509. and .0, one
of the faces being blank. The :type'wheel rotates in a counterclockwise direction as viewed in Fig. 33;, and is rotated in a step by step movement produced by means of a pawl arm operated bythe actuating magnet 37 and a. pair of pallets '52 and 53 car- I a ried by the pawl arm which alternately engage the teeth on opposite sides of the ratch et wheel 45. l V 1 When it is desired to print from the type wheels they may befirst restored to a predetermined unison position, which is, preferably, with the blank'face of the type wheel in printing position, and then set in the cor "rectposition'for printing the'desired char- I acter by transmitting to each operating magnet a number of impulses equivalent to the number of the digit which it is desired to print from the corresponding type wheels. It is obvious that the mechanism as heretofore described for supporting the various characters and moving them into printing position, such mechanism including type wheels bearing the numerical characters and the sectors bearing the letters H and L', will serve equally to bring the desired'characters into display position before apertures provi-d' ed in' a display panel as forsetting the characters nto; printing-position 111 a printingunit. To employ the mechanism in a display or indicator unit it would be necessary merely to dispose the special type carry ing sectors or bars so that the desired special character will be moved into position before an aperture in ,a,display panel when 'oper-' ated by the proper signal. The type'wheels also can'be adapted for such use by 'I'nerely so disposing the commutator and character wheel that when the wheel is set in the'unison position of the wheel and'the display position of the character's, therewill occur suitable apertures in the display panel in-- stead of before theprinting platen of the printing unit as hereinafter described v The quotations are printed'on a record tape 54:,sl1ownin Figs. 1 and 2. 'Itis preferably a strip of'paper of suificient width to receive the desirednurnber of characters representing the quotation. It may he supplied from a roll 355 suitably mounted between the sides oiithe printingunit housing. From the supply roller it. passes oyer ameteringroller 56, thence overan idler roller .57, through an opening or slot 58. tothe froirt. of the (piotation board. The metering roller and 'idler roller are arranged to hold asection of theztape: 54in a. substantially horizontal position between the printlength of the record tape after each print .ing-operation and is accomplished by means 10f the roller being provided with a :circu lk ference of a suitahie size to feed out the tape until the last quotation imprinted thereon appears in view at the front of. the quotation heard; The other function of the metering roller is that of lifting'the. rack '31 to unl ck the special type carrying sec-tor arm 21'; from the notched dog 29 iw'hen either H or has been printed. This is accomplished by means. of a pin 59 carried by the metering roller which strikes the lowerend 61 or the rack .31 asthemetering roller begins to re.- vlolve.
The printing mechanism, referred to above,
comprises a series of platen blocks eI1- gaged by a universal bar ea which .is in turn secured to the plunger 65 of the solenoid 66 supported on a plate 67 carried by the hous ing. When the solenoid is actuated the core or plunger raises the universal bar and causes the'platens to carry the record tape 5411p against the type characters, which have been set in printing position, and imprint the quotation from the type lcharacters on the tape. .After imprinting the quotation on the I recordtlape, the platen and plungerof the solenoid are returned to their normal position by means of a retractable spring .68.
During the return of the plunger 65. to
normal position a series of mechanisms, 1:
shown inFigs. l and 2 'is operated which releases, themetering rollerand permits it to rotatea complete revolution in response to tension set up in a lower section ofthe tape by means of th'e take-up or receiving roller of a windin-gmechanismnot shown. Itwill be observed, by referringto Fig. 2,:thatthe metering roller is provided at one end with a stop cam 71 which is arrangedto permit the metering roller tomake only one revolution at a time. The cam has an inclined face portion- ZQJterminating with a shoulder 7 4.
A stop arm '7 5 is provided to rest against the shoulder 74: and-restrain the movement of the metering roller against the tension inclined face 78. A shoulder 79 is formed at the inner extremity of the inclined face. A spring 81 holds the stop arm normally in contact with the cam.
, A lever 82 is mounted on the bracket 77, pivoted at 83, and is arranged to be actuated by the movement of the solenoid plunger as it carries the platens upward during the operation of printing. The left end of the lever 82has a pivotally mounted click or dog 84 secured thereto and held against a stop pin 85 by means of a spring 86. The outer end of'the dog is arranged to normally rest in the notch'or shoulder 79 of the lower end of the stop arm.
Upon an upward movement of the solenoid plunger, the left end of the lever 82 will swing downward and the dog or click 84 will slide off the shoulder 79 and click over into.
contact with the inclined face 78 of the stop arm. Upon the downward movement of the plunger, the left endof the lever will move upward and, the dog, being now held rigid with respect to the lever by means of the pin 85, will slide up the inclined face of the stop lever and force the same to rotate in a clockwise direction around its pivot point, and cause the upper end to slide outward off the shoulder 74 of the metering roller.
-As the stop arm 75 slides off the shoulder 74 the metering roller is released and begins to rotate permitting the tape to move forward and, down the front of the quotation board. As the metering rollers rotates the pin 59 comes against the inclinedface 61 of thelower portion of the rack 31 and forces the rack 31 upward which simultaneously raises the dog 59 lifting the notched portion thereof from engagement with the arm 27 of such one of the type sectors 12 or 13, as had been set into printing position. As soon as the arm 27' is released one of the retractable springs 33 connecting through the pawl arm of thecorresponding type sectormagnet swings the sector out of printing position into the position shown in Fig. 2 of the drawm s. r
y is the metering roller 56 continues its revolution theupper end of the stop arm 7 5 is held in contact with the inclined face 72 of the stop cam and follows the face of the cam as the same rotates with the metering roller until the upper end of the arm is again brought in engagement with the shoulder 74,
arresting the metering roller in this position. It will be observed, therefore, that the metering roller is automatically brought into action atthe end of each printing operation and performs the two functions as outlined above, that of unlocking either of the special type carrying sectors 12 or 13 that may have been set into printing position and of permitting, at the same time, a definite predeter-- mined amount of the tape to be fed out toward the front of the quotation board in order to bring the last printed quotation into view. 1
Referring to Fig. 6, we have shown another embodiment of our invention in which both of the special type characters, H and L, are carried by one sector 90 which takes the place of the two sectors 12 and 13 in the embodiment already described. The sector 90 is provided with two protruding faces, 91 and 92 separated by a recessed portion. Upon the faces 91 and 92 the characters H and L respectively are mounted. At the upper part of the sector 90 are provided two arms 27 which are arranged to engage the notch 28 in the dog 29 as the type character disposed opposite the respective arms is tension 98 of the framework 17, and has the double armature 9697 formed on its outer end. A pair of magnets 101 and 102 are provided for actuating the armatures 96 and 97 respectively to move the arm 94 up or down. The magnet 101 is arranged to beenergized in response to the high range signal to attract the armature 96 and carry the arm 94 upward to bring the face 91 hearing the character H into printing position, simultaneously locking the arm 27 in the notch 28. As the arm 94 is moved upward it carries with it the outer end of the leaf spring 108 which bears on its upper side. Upon release of the sector 90 the spring 103, which was carried upward when the sector was set in printing position, will now act to return the arm 94 to its normal or central position. This position is determined by pin 105 set in the framework 17 and arranged so that leaf springs 103 and 104 come to rest on opposite sides of the pin thereby holding the arm 94 in a normal alignment with the pin.
A signal impulse received by the magnet 102 will actuate the armature 96 and through the lever 94 act to set the L character on the face 92 of the sector 90 in printing position. To accomplish this the arm 94 swings downward carrying with it the outer end of the leaf spring 104 and rotates the sector 90 in a counter-clockwise direction to a posi tion where the corresponding arm 27 of the sector engages in notch 28 of the dog 29.
ISfiith the normally closed contactsjllfito the high bus.line.1;l8., Simultaneously, with the selec-'' tion of: the H; relay 111 the stools relay-.1 19 will; be closed by other: signals in; the signal a typical quotation Will now be described.
As an exa nple of atypical quotation We; Will mchoose thequotation shown in Fig.1 under the stock column A in, the third line from the to p which is H273. InIFigfiSthe printingjrnechanisni is shown diagrammatically ineonnection with the portion of the circuit gfiinthe system relatingpartieularly to a print.-
mg' 1 1 hik We have described. IThe three type wheels employed; for printing the, nt. un t a d. rac on digits, of the quota-- i nars; repr s n d by the-co rol connnutar 20 rs i the hmrpmhon ofithe-diagram.
Y he yp w el, perating magnetsi 37 are 1 connected through "the 7 coinmitatorsby mean of brush s .7- and. 4E8. The; pecial type: carryingsectors; are represented in the 25' "diag arnhy ac uating magnets 1.5 and the magnet. 1.5. repre s V and-the magnet .16 the L typesector.
For setting;- up; the. assumed quotation a I train o-signal impulsesv comprisingthree SUTg ups are transmitted to the pr nting unit.
In -the; first'g-g group of impulses, in, the train an impulse Will be; transmitted to, the Ina-in igh and opens: the contacts 113. This connects 11$ .pQtsnt aL-from the line-.1117; through trainte closethe 'Inulti-contact switch 121.
The closing ofthis switch connectsthe hi gh.
busl e with' theauxiliaryl lirelay12,2. The
Hrelay lzgclosesthe switch: contacts128- f and- 12.4.. The los ng of; thecnnjtacts 1% arfigj t blishes. alocking circuit through the re:
lay; fnoin the battery 125. Through the 123the Httypefsector; actuating mags; netl sconnected totheline 126.1 The. line ent 126: issupplierlwith battery potential, from ibatterylQZ through the contacts operated by rela 128 which wasgactuated by means of a battery potential throughthe contacts of 1 the I rel vl29,'which was supplied with battery potentiahfrombattery liZO at the time the lniultif-contact switch 121 Was; closed.- The battery. potential supplied; fEOHl llllB. battery liZZcausesgthe agctuatingmagnet 1-5 to bring 1 the-tyne sector-12, carrying the-H character,
H intoiprinting position, in which positionit is V locked,asheretofore described, until after paint ng has bs nc-efiected-i ten "the-selector; group oztlsignals has.
7 beentransmitted v the restoration group, 01 I lows next; 1n that-rain ofsign-a-l's; Signals:
iron; the restorat on-group are transmitted Y in the tvne sector relay 111 which closes, the contacts .112.
I mem s.
from'the tens, units and fractions, bus lines through, the contacts" of the multi-contact switch 121 to the actuating magnets 3.7 of the several type wheel's. Eachof the type Wheels respond to the restoration impulsesin. a similar manner and, thereii'ore Lt Wlllibfl SlllfiClQHt to trace the operation oi only, one
of the type Wheels. The fractions type Wheel willbe taken asan example. Let it beassumed' that the commutator d insteadof being in the position shown in Fig. 8 which corresponds. to unison or blank'position, is in;
some other position. such as shown in Fig. 4'. Insucha casethe inner brusht'? is in contact with the inner conducting 'seginent of commutator and the circuit is completed through the; commutator shaft and the grounded Wire1131 as shown," Let itibe assinned further that the type heel andc01n- 1 mutator are set-With thenuineral'- in printin position. The first sevenof the ten res;- mason, impulses, comprising the. restoration signal group, steps. the type. Wheel around tobring the numerals 5,. 6, 7,8, 9,. 0.
and the.- bl'ank portion, successively, 111 60. prlntlngpesition. 1 Attheinoment the blank portion (ii -the. type Wheel reaches prlntl-ng position the inner brush'? engages inwardly the pro ectlng sector of theouter conducting segment ofthe commutator 46 which is insulat-ed irointheinner groundedgsegment. The
outer segment is: un'grounded at this time, the
actuating ground v not:havingbeen applied,
consequently, the ground. circuit; from the magnet 1s interrupted and the magnet remains.unresponsive during. the transmission'. of the; three remaining impulses; Thetypewheel, thereforeyremains.set in its unisonior:blanlrpositionatthe end oft-he trans mission: of the. restoration; impulses; In. like manner; thety'pe. Wheels forfprinting' the tens and. units .digltswlll be restoredto their re-- position they. might: haye'beeniset, leaving all three type. Wheels 1n". a corresponding post-- .tion, or in.otherwordslina unison position.
The answerzgroup of impulses follows the restoration group to .setthetypewheels with theproper digits in pr nt ng position. However, "before thetype wheels canbe moved from; their unison position itvisnecessary to establish a ground circuitfertile-magnets.
This is accomplished by means of a relay notshown, Wlnch connects the. Wire 134to the actuating grounder to a grounded contact; This establishes a ground circuit from the magnets throughthebrushes fl, the outer segmentsoi the commutatorsf-lfi, and the brushes-48;which are connected- 50 the line- 134. Actuating ground'is"applied'just before g i ilLheObSc ed bykreference to Fig: 8
; spectirv'e.blankpositions froniwhateyer prior 7 the answer group of signals are transmitted. I As a result, as soon as the answer signals beginthe several type wheels Willbe stepped dv by 11162111801? thegactuating magnets thateach'of the magnets is provided witha 1 inner brushes 4.7 are again brought in contact with the inner grounded segment of the commutators and will thereafter be grounded through the commutator axes and the grounded wire 133.
i For setting up our assumed quotation- H27 .3, three answer impulses are transmitted to the stepping magnet of the fractions type wheel which steps it around to place the digit 3 in printing position. Similarly, seven 1 answer impulses are transmitted to the units type wheel to step it around to place the.
digit 7 in printing position. Two answer signal impulses are transmitted to the tens type wheel to set the digit 2 in printing posi tion. The H character having been set into printing position by the rotation of the H i type character as described above, the printing unit will have been set up to print the assumed quotation. I i The printing operation is accomplished by the platen 63 being brought up against.
the faces of the type characters to. simultaneously print all the characters on a suitable paper tape. The actuation of the platen is brought about by means of the completion of a prepared circuit, which takes place upon the release of stock relay 119, accomp'lishcd at the end of the transmission of the train of signal impulses. The circuit was prepared at the beginning of the transmission of the quotation when the stock relay 119 closed the multi-contact switch 121,
thereby actuating relay 131 by applying battery 132 thereto. The actuation ofrelay r 131 connects its tongue 135 with the line 136 r to apply battery 129 through relay 128. When relay 128 is actuated it closes contacts 137 and 138. The closing of the contact 138 establishes a locking circuit from batteryv 11427 through the relay to the ground. The
closing of the contacts 137 establishes a ground circuit through the windings of the platen actuating solenoid-66. The other wire leading to the solenoid'66 normally connects a through the tongue 135 to battery 129. However, when the relay 131 was actuated and tongue 135 connected with. the wire 136, the circuit from the solenoid to the battery was opened. On the other hand, at the end of f the transmission of the train of signal inipulses when the relay 131 isreleased, the circuit is reestablished to the battery 129 and,- ground having been applied'to the other terminal of the windings of the' solenoid 66,
the solenoid is then actuated to raisethe plunger and bring the platen 63 with the interposed record tape up against the :face of the type characters to effect printing. The quotation having been printed the solenoid is deenergized to permit the platen to lower again to its normal position. This is accomplished by interrupting the circuit through thesolenoid windings and battery 129. A switch 139 is provided in the holding circuit for the relay 128 and means are provided for the plunger 65 to open the switch and release the relay 128 as the plunger 65 makes its upward stroke. The release of the relay 128 opens the contacts 137 which interrupts the ground circuit to the solenoid, thereby disconnecting the battery 129 and opensthe contacts 138 which interrupts the holding circuit of the relay 128 at another point to maintain the circuit open after switch 139 is permitted to close as the solenoid plunger returns to normal position.
The platen having made its upward stroke to imprint the quotation on the tape and returned to normal or rest position, there remains the additional operation of releasing the type sector which was set in printing position by the actuating magnet 15, before the printing unit is in condition for the reception of the next train 01": signals for posting the succeeding stock quotation. This release 1S accomplished, as already described,
manner, as just described in connection with a quotation including the letter H. For printing a quotation including L, the main L relay 114. will be actuated to apply poten tial from the line 110 through normally closed contacts 113 and contacts 115 closed when the relay was actuated to the low bus line 120. From the low bus line 120 the auxiliary L relay 141 is actuated, applying a locking circuit for the former through contacts 142 and connecting the line 126 through contacts 143 with the actuating magnet 16. As already explained in connection with the actuation of the auxiliary H relay 122, the line 126 has battery potential applied thereto which energizes the actuating magnet 16 to set the L type sector into printing position. The setting up of the type the quotation and the printing operation will be accomplished in the same manner as described in connection with the quotation assumed above.
The quotation of a printing unit embodying the modified form of the special type carrying element shown in Fig. 6, will be identicai, so fair the circuit operation: is: con;--- cerned, with tliatjnst described! in connection:
} the preferred form on our: invention Theactuating magnets and 16' will. be re= placed! by the actuating magnets Hill and! 1025,
g be-eniplbyeda l t-is obviousalsothafi the spe'* cia-ltype sectors need not be limited toone or'onepai'r; but that aprin'ting unit may be equipped. with; any desired number of spetures'of the printing unit. H Fronrtlie foregoing description'of ouraln Venti'onf it will be observed that We have (1e:
vised apri'nting' unit arranged to print cliar i v asters whichwill designate tllfll lgh l, low a0 7' bid or ask, or other special quotations as theyo'c'eur in the stock sales orother'com modity reports; and; bythisinean's5 enablethe printing;- unit to display other" inf0r na-' n tionin additionto thewtrend ofa stock or f'coin'nioditybeing posted. In this manner.
quotation boards are, rendered more effective and more completeto better enable an'observe to associate the immediate-trend or" 'v stock with the progressof the days quotatiOnS; i
' Also it Will; be apparentthatg'whendesirable, the designating characters'inay be selectively printed as apart of certain uotaf ,tions which arebeing posted or the quotat ons may beprintedwith the characters omitted;
In addition, it' will apparent that We" have devised aprinting, unit which twill: set upthe Wliole of-tlie quotation, inclizdirigtlie specialtypefoharacter when melt is to be quotation on a re-cord tape; resulting iii an extremely rapid stock quotations. I p
it is obvious thatflour inventionf may be.
utilizedto print anyother character- Having any special significance insteadof or in addi tioii to the characters stated heretofore; and
it will further- ;be apparent" to i those skilled .inthe art that while- We liave'shown ourin yention as embodied iirandappliedto arprinting unit, the'principl'es set forth mightbe embodied in a }unit utilizing indicator whee-ifs or-iotlier means :to' displaythe type a characters-to; direct iew. instead of inpri nt ed-form; r it i (rial-sectors by-suitably inodifying'thestir-ud V printed; and simultaneously prin the Whole mechanism for printing" menses;
Whziie 'WBhHNBZ shown our? invention. in buff two; forms, itwilll be: obvious: toithose skilled? in theant thafiitisnot so limited but issue ceptiiile: to various other changes and modifficafiions Without? departing from: the spirit" tliereofgi and We desire,- therefore, that only such limitations shall be placed thereon: as are inip'osediby'priorarfi or asspecificallyset forthin theappen'ded claims; r
We claim as 1 our: invention In an: indicator system, the c oinbinati'on ofl a setof char ao'ter carriers, including one or more oari' iersoarryingnumerical'chai acters and at least one special character carrie'n; independent means to operateea'ch characte'i canrier in' response toelect'ric signal impulses; means 'toselectively operate 1 V the numerical clia'r ac'ter carriers alone-to form' the combination of indicator means actuated by" successi e trains of" impulses 't'o'disp'lay theserie's of items, andindicatordneansl actu'ated theselectively included signals to indicate the additional information.
3'3-Iniqu0tation board systems,- a printing" 7 unit for printing; quotations and embodying 1n" combination, means arranged for printing characters"to represent the quantity value of? the 'quota'tions; andmeans arranged'to selec tiyely print, inconnectionwith certainquotm tions; one 'of'a plurality ofspecial characters todesi fate"a" quality value of the-quotatioiis i 4'; In quotation boardf systems, a; printing unit; fmrpfinung; successive quotations in'i consecutiveorderpn a papertape orother material; said "printing unit embodying-1f means; including one or more? type, Wheels" operable; in response to" telegraphic signals forprintingffnumerical characters to repre sent the quantity value of a .quotatiom and means provided independent. of the type Wlieels'and" operable in; response to. special telegraphic" signals fer selectively printing olie 'oit' 'a; pluraiity of special characters de signe'dito' designate a; quality value of the quotation."
51 I "xp otation board, apparatus for dis-j "bidfl .ask, or other s aecial values for the" dayf n connection with the displaylngjof' h qnotationsoff a plurality of. commodities, a: printing mechanism" embodying means for displaying consecutively" in printediform tlie for selectively printing a character in connection with the printing of the quotations occur. i
\ ,6. In a quotation boardsystem for dis-- playinga range of values'for a plurality of 'commoditiesin response to atrain of tele- -graphic-signal impulses embodying signals to identify certain values, a'printing mechanism, said printing mechanism embodying means for displaying the values in printed form in consecutive order as they.occur-during the day, and means 'IQSPOIISlVGftO the identifying impulses accompanying the high and low values for printing a character along with the value which will inclicate whether it is high or low.
7. In quotation board apparatus for displaying the range oit' values for the day of a plurality of commodities, a printing mechanism embodying means for displaying consecutively in printed form the values as they fo'ccur during the day, and means embodied in the printing mechanism for selectively printing symbols simultaneously with the range values asthey occur.
8. In quotations board systems, a printing unit for printing successive quotations in consecutive, order on a paper tape or other printing ofthe values to designate certain material, said printing unit embodying means including one or more type wheels carrying numericalcharacters, and operable in response to telegraphic signals for printingthe value of a quotation, and means for supporting various symbols or letter characters independent of the type wheels and operable in response to special telegraphic signals for selectively printing these symbols to designate the range or indicate other information about certain quotations.
9, In a quotation board printing unit having type carryingmeans to set up quotations to be printed,the combination-of an auxiliary type carrying elementarranged to be moved into and out of printing posltlon, a prmtmg i. mechanism, means to operate the printing mechanism to prmt each quotation as set up,
' means to normally'hold the auxiliary type i carrying element out of printing position,
and electromagnetmeans operative to bring it the auxiliary type carrying clement selec tivelyinto printing position.
7 10. In a quotation board printing unit having type carrying means to set up quotations 7 to beiprinted, the combination of a pair of auxiliar t ecarr. in telements atv e char- *acter carried by each of said elements, a
printing mechanism, meansto operate the printlng mechanism to print each quotation as setup, means to normally hold the auxiliary type carrying elements out of printing position, and means operative to bring either 7' of the type carrying elements selectively into ;.printing position. i
11. In a quotation board printing unit, one
or more type wheels disposed to print the of telegraphic signal impulses for rotating the type wheels into printing position, and means including a movable bar carrying symbols and operable in response to special impulses in the group to selectively print one of the symbols as a range denoting character in the quotation.
12. In a printing unit for quotation boards, the combination of a type carrying element, two type characters carried by said element, a printing mechanism, means to operate the printing mechanism, means to normally hold the type carrying element with both of the type characters out of printing position, and means selectively operative to effect the setting of either of the type characters in printing position during certain operations of the printing mechanism.
13. In a quotation board printing unit for displaying successive quotations in response to corresponding trains of impulses, the combination of one or more type wheels disposed to print the numerical digits of the quotation, means operable in response to each train of impulses for rotating the type wheels into printing position, a pair of movable bars each carrying a character thereon and each disposed to print the character thereon as a range denoting part of the quotation, and independent means associated with each of the bars selectively operable in response to signal impulses optionally included in the signal train to cause a predetermined one of the bars to print the character thereon.
14. In a printing unit, a pivotally mounted type carrying member, a type character carried by said member, said type carrying member being operable to move the type character into printing position, means to normally hold the member with the type character out of printing position, means responsive to,
telegraphic signal impulses to set the type member with the type character into print ing position, means to effect printing, and means operative after the printing operation to release the type member and permit the,
same to return to normal position.
15. In a quotation board printing unit, one or more type wheels carrying numeral type characters, means independently associated with each type wheel and responsive determined range denoting character in print rug position, means. to effect printin and meansinitiated by the printing operation to restorethe-sector to normal position,
. 1.6; In. a quotation board printing unit, one orv more type Wheel-s carrying numeral type characters, means independently associated with each type wheel and responsive to a I group of quotation transmitting tor :rotating the type wheels to. bring selected characters into printing position, a pair of piyotally mounted sectors each carry-mg a range denoting character and-each-being pivotal'ly mounted and arranged to be independently set into printing position, means to nor mally hold them out of printing position, and actuating means associated e ach sec- 1 tor operable response to certain signal im- -pulses in the gronpwto selectively set either of the sectors in printing position, means to etfect printing, and means rnltrated upon completion of the printing operation to release the sector and perm-it it position.
to return to; normal 17;. In a quotation board printing unit, operable in response to. a train of telegraphic wsi-gnal i-mpnlses to print a quotation, means 7 for supporting a special type character adapted toibe printed :asapartot the quotation in such a manner that the same m-ay be set into and out of. printing position, means for holding the type character normallyaout of print ing position, means operable in response to one of a predetermined set ofselective signal impulses'which be included optionally in the impulse train for setting the type character into printing position, means to effect printing, and means to release the type characterfrom its printing position and permit the same to return to its normal position.
118. a quotation board printing unit,
operable in response to a train of telegraphic signal impulses to print a quotation, means f'o'r supporting a plurality of special type characters adapted to be printed optionally-as a part of the quotation, means for settingany one of the special type characters into print- 1 ing position, means for holding; the type characters ina normal non-printingposition, means cooperating with each special type character for operating the setting means in response'to one ofla'set of selective signal impulses which may be included-optionally in the signal train, to eilect printing,
' and means to'rel-ease the type characters from printing position and per-mitthe same toreturn to normal position;
. 19; In a printing unit, a pair of'piv-otally mounted type carrying members each carrying a special type character, said members being operable to be set i'nto printing position,
means'to normally hold thetype characters *in'a non-printing position, means associated with each type carrying member. selectively responslve totelegraphic signalimpulses to mas-585 set the type: members intopriiitingaposition, means to. lock the type memhersias they are set in printingposition meansztaefiectsirmting, and means initiated upon completion of the printing operation tomelmse the type, carrying members andpermit the Wire turn to normal'position.. 1
for quo at on 203; In a printing boards, the combination eta type amylng -elie1nent,,a printing-mechanism, meanstoop,
crate the printing. mechanism, 'retrantible means to normally; hold the type carrying element out of printing position, an eleeimomagnet operative by current to set the type carrying element nt ing position, means; to; lockthe type; car-ry- 7 ing element. againstindependently ea said seiecttngcurrent pu se and maintain the. same imprinting position during. the. period in. whichpmntimg: eh I fectemandmeans initiated at the end oi the printing operation to. unlock the type-:mry-
element and to permit 3 return tonormal position,
21.. In a emcm i unit miaaaa the combination of a pair-0f pivoti-llymfiflmied type carrying-elements, a printing mechanism, means toopenategthe. printingmeeha nism teefiiectprinting, independent tihle meansto. hold each of-thetype. 1
elements in a normmlnon-printingelectro-magnet operatively connected with each type element. insetthe same in printing position in response to. siagnal impulses; selectivelyv included 7 a group.
of signal impulses, adapted to operfllie. the printing mechanism, means. brought. eagagement. with each typecan'ying elemcnt'as it is set; into printing position tor-mistakinot ing the same in position during operation of the printing mechanism, and means. to unlock the locking means upon completion of the operation ofthe .printing meohanism for permitting theretractible-means to return the type carrying elements. normal position I s I V In quotation hoard systems; a. printing unitfor printingquotationsand embodying, in combination, means arrangedfor printing characters to represent. the yalueof. qua
tations, and means arranged to selectively print, in connection with certain quotations,
one of a plurality of special characters to indie ate additional information concerning the quotation.
23. In a printing nnitifor. quotation boards, the combination of an element carrying one or more .special'typecharacters, a printing mechanism, meansto operate the printing mechanism, means to normally- .set. the type to print a special type character, and means operative toautomatically reset said element and said mechanism out of printing relation before the next printing operation.
24. In a printing unit for quotation boards, the combination of a type carrying bar, a type character carried by said bar, a printing mechanism, means to operate the printing mechanism, means to normally hold the type carrying bar with the type character out of printing position, means selectively operative to efiect the setting of the type character into printing position during certain printing operations, and means for automatically returning the type character to its out of printing position after printing therefrom has been effected.
25. In an electrical indicating system, the combination of a printing unit embodying a set of type carrying elements, including one or more type wheels carrying at their periphery a series of regular type characters, and a special element carrying one or more special type characters, electro-magnetic means for operating each of said type elements, circuit closing means for rendering the operating means responsive to certain" restoration impulses in a train of signal impulses to operate the type wheels, circuit interrupting means for controlling the response of the operating means to stop the type wheels carrying the regular characters in a predetermined unison position, control means operable in response to impulses selectively included in the train for causing the operating means of the special type carrying units to move the same to a position displaying a predetermined special type character, means operable to render the operating means of the regular character type Wheels responsive to answer impulses in the signal train for advancing them to a position which will display predetermined regular type characters, and means for rendering the special type carrying elements unresponsive to the answer group of impulses.
26. In a printing unit for quotation boards, a main type carrying element, an auxiliary type carrying element, a platen, means for invariably bringing the platen against the main type carrying element and means for effecting engagement of the platen with the auxiliary type carrying element during selected printing strokes.
In testimony whereof we afiix our signatures.
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