US2248173A - Stock ticker - Google Patents

Description

July 8, 1941.

l. D. HYSKELL STOCK TICKER Filed Feb. 18, 1938 Patented July 8, 1941 UNITED STATES PATIENT. OFFICE STOCK TICKER Ira D. Hyskell, New York, N. Y.

Application February 18, 1938, Serial No. 191,339 10 Claims. (Cl. 178-39) This invention relates to improvements in type printing telegraph mechanisms and has particular reference to improvements in so-called highspeed stock tickersbased on the start-stop principle', which are at present in common use. 7

Mechanism of the stock ticker class ordinarily has a wheel bearing tworows of type characters side by s1de on its periphery, means .of rotating the type wheel into positions relative to selected characters, means of supplying ink to the char- &

acters on the wheel, mechanism for intermittently moving a tape susceptible of receiving imprints and means of bringing the tape into contact withuselected characters on the type wheel. Devices of this kind have heretofore been 7,

actuating the sending .apparatus, but not to make 9 two imprints simultaneously in respect to characters selected one from each row of characters.

Theprincipal object of the invention here described is to provide means of making two imprints simultaneously on a movable tape, one .directly above or below the other, or a succession of such imprints'two by two, as well as a single imprint, or succession of single imprints, on either of thetwo lines, and thus make possible substantially greater speed in conveying information. Another object is the attainment of greater rapidity in the selection of each character to be printed through elimination of the electric impulse heretofore required .in mechanism .of the stock ticker class to determine whether letters I or figures are to be printed. .A further object .is to make quotations more readily legible at a glance through the form in which they appear on the tape. Other objects and advantages of My invention may be more clearly understood by referring to the accompanying drawing, wherein:

the invention, showing two type wheels and shafts, two character selectors and a duplicate friction clutch device, and,

Figure 2 is a vertical section through the type the invention will be apparent from the descrip- 11 tion given below.

Type wheel I is mounted firmly on hollow shaft 3, which extends almost to the middle of friction clutch mechanism 19, as may be seen in detail in Figure 2. Type wheell is mounted firmly on solid shaft 4, which extends in reduced diameter through and somewhat beyond hollow shaft 3, likewise shown in Figure 2, and in larger diameter from such point through character selector 23. Type wheel I carries .a single row of type characters (not shown in the drawing), mostly letters, on its periphery; type wheel 2 has likewise, butnot shown, a single row of characters, mostly figures and fractional figures, on its periphery.

The two type wheels are located side by side with. only enough clearance to avoid friction and both together occupy approximately. the same position and amount of space asthe single type wheel of the high-speedstockticker now in common use. One of the two type .wheels takes approximately the place ofthat part of the single type wheel which carries one of the two rows of characters, and. the other type wheel replaces approximately that part of the single type wheel which carries the other row of characters. On a tape (not shown in the drawing) which is caused to advance intermittently under the type wheels, the letters and other characters of type Wheel I are imprinted on the .upper lineyand the figures ,and other characters of type wheel 2 on the lower devices .16 and. 23, including coordinated parts,

are connected. .with sending apparatus, from which separate electric selection impulses are received. Duplicatefriction clutch device 19,, de-

scribed below, transmits .rotary motion to shafts 3 and, 4 through two friction clutches located. one on each side of a rotatable element 5, suchas a worm wheel orgear, which meshes with a worm or gear wheel- ZU-car-ried-on drive shaft 2| of an .45 Figure 1 is a plan view of one embodiment of v wheels, shafts and duplicate friction clutch device.

Figure 1 is afron't view of two type wheels -I and 2, hollow shaft 33, solid shaft 4, character selectors I6 and '23, together with arms l5 and 22, and a duplicate friction clutch mechanism I956:

electric motor; Forthe motivationcf the character selector devices and coordinated selection parts the formof mechanism preferred isa duplicate friction clutch device, similar to that just element 20, from which upper clutch device shafts extend on both sides above and parallel with shafts 3 and 4. These upper shafts are rotated through the clutches of said. device and carry selection mechanisms coordinated respectively with character selector devices It and 23.

The operative relationship between the selection mechanisms just referred to, the character selector devices and the type wheels is well understood in the art and is not here described in detail. It may be stated, however, with reference for example to character selector device l6 and coordinated parts, that when the upper friction clutch is released through a start impulse actuating a main line magnet the selection mechanism carried on the upper shaft starts to rotate. This rotation is exactly in phase with incoming selection impulses, so that a definite position is attained when each of the arriving selection impulses actuate the main line magnet and thus through a selecting cam drum set little storage fingers in a certain position. Immediately after all of the selection impulses of one character are received and the fingers set, a transfer action takes place, through which all of these mechanically stored selection impulses are transferred into a stop disc unit. Through this procedure the code plates or discs of character selector device l6 are set in either marking or spacing positions and these in turn allow a certain one of approximately thirty stop pins, of which two are shown as I! and M3, to fall into a slot, Shaft 3 having a revolving element, which may take such form asarm 5, then starts to rotate and proceeds until such element strikes against the particular stop pin which has fallen into a slot. Type wheel I is thus caused to stop at a predetermined position for a-selected imprint. Cther operating functions immediately follow through cam-operated mechanism, including the action of a printing hammer in bringing the tape against the type wheel to print the character selected and immediately thereafter the advancement of the tape to-the next position.

The use of a duplicate friction clutch device to motivate the selection mechanisms permits both of the character selector devices to be in operation at the same time, or one to remain at rest while the other is in operation, and is as stated above the form of motivation preferred, but other forms are feasible and may be employed.

Figure 2 is a vertical section of two type wheels I and 2, together with shafts 3 and 4, whose functions were outlined above, and a particular arrangement of friction clutch mechanism. This mechanism is mostly in duplicate in reverse order and is, in effect, two separate friction clutches with a single worm wheel or gear in common, of which clutches one functions in connection with hollow shaft 3 and the other in connection with solid shaft 4. Corresponding parts are given the same numbers in .the drawing. Worm wheel or "gear revolves on an axle provided by that part of solid shaft 4 which projects in reduced diameter beyond hollow shaft 3 and meshes with a worm or gear wheel of similar function 20 (Fig. ure 1) carried firmly on drive shaft 2| of an electric motor (not shown). On both sides, gear 5 has drum-like projections 6, which engage with rotatable, perforated metal clutch plates 1 carried like washers, as are other plates described immediately below, on shafts 3 and 4. Accordingly, whenever the electric motor is in motion, gear 5 and clutch plates 1 are continuously in revolution. On both sides of clutch plates 1 are lubricated, perforated felt plates 8 and I0. Plates 8 rest against tightly threaded nuts 9, which constitute flange-like projections on shafts 3 and 4 and serve on the sides adjacent to gear 5 as supports for the friction clutch plates. Plates I0 rest against perforated metal plates l I, which interlock with perforated metal plates I3. Plates II and I3 have between them metal springs I2 and are so fixed on shafts 3 and 4 (arrangement not shown in the drawing) through projecting parts extending into grooves in said shafts that they cannot revolve without equivalent revolution of the shafts. Adjustment of the compression of clutch springs I2 is provided for through nuts I 4, which, together with plates l3, serve as supports for the clutch plates on sides opposite to nuts 9.

The means ordinarily employed in supplying ink to the type characters in the case of a device having a single type wheel with two rows of characters will be effective in supplying ink to the two type wheels here described.

The device ordinarily employed in apparatus to which this invention relates for intermittently moving a tape will be applicable in the mechanism here contemplated, since the tape is to be so controlled that it will be advanced to the next position in connection with an imprint by either of the two type wheels. In case both type wheels are operated during the same period of time, the impulse to make the advancement of the tape will be given in. duplicate.

The mechanism for bringing the tape into contact with characters on the two type wheels is duplicate in character and based on principles well known in the art. It is in reality two devices, one operating solely in connection with onev of the character selector systems and its type wheel to bring the tape into contact with selected characters on said wheel, and the other device operating in a similar manner in connection with the other character selector system and its type wheel. Thus there is no relation between the two devices, such as exists in respect to the parts of the corresponding device of a stock ticker having a single type wheel, which would make necessary an electric impulse from the sending apparatus to determine by its polarity whether letters or figures are to be printed. Therefore, the eight-unit code employed in the high-speed, start-stop stock ticker referred to above is to be replaced with a seven-unit code, such as is used in type printing telegraph mechanisms designed to make imprints only on a single line. The eight-unit code consists of one impulse to start, one impulse to determine whether letters or figures are to be printed, five impulses for selection of the particular character to be printed and one impulse to stop, whereas the seven-unit code to be used herewith in connection with each of the two character selectors omits the second impulse, which diiferentiates between the printing of letters and figures. Through this reduction in the number of successive electric impulses required to select each character, a gain in speed of operation is expected to be achieved.

The type printing telegraph mechanism here contemplated is to be operated under control of sending apparatus so adjusted and actuated that, when imprints are to be made by both type wheels at the same time, such imprints will be for practical purposes simultaneous, not one prior or subsequent to the other so as to tend to alternate with each other. This adjustment will make possible two imprints one directly above or below the other, as they appear on the tape, before the tape is advanced in connection with either imp int to the next position. Accordingly, in printmay be initiated at the very instant that the printing of the letters'on the upper line is begun.

Stock tickers heretofore used'haverequired," for example, five successive imprints to record a transaction involving a security designated with two letters, such as XQ, and a price consisting of two digits and a fraction, such as @7 4. The mechanism here described would print the letter X and the digit 4 simultaneously, the letter Q and the digit 7 likewise at the same. instant and the fraction alone at the next imprint, thus requiring the equivalent of four successiveimprints, including a spacing in anticipation of the next group of characters, to record the same information relating to this transaction.

This reduced number of successive imprints, including any spacing between groups required for legibility, together with the possibility of a saving of time through elimination of one electric impulse in connection with each imprint referred to above, constitutes the basis for the belief that the use of this invention would make possible substantially greater speed in conveying information. It should be clearly seen from the description here given, however, that the tape is to move at most only slightly faster than in the present high-speed ticker, any increased speed of movement being due to elimination of one electric impulse out of eight, as discussed above, and that the principal gain in the number of quotations capable of being reported per minute results from the arrangement of characters on the tape, which permits more imprints to be made on a given length of tape.

In the form in which reports of transactions appear on the tape from stock tickers now in common use, the letters designating the security are printed on the upper line and immediately thereafter in the case of each report the figures relating to the number of shares (if indicated) and the price, on the lower line. Quotations in this form, since they usually include a total of several imprints on the two lines, are so extended that often the information relating to a single transaction, or to two or more transactions reported at the same time, cannot be comprehended at a glance, but must be secured through a movement of the eyes downward and to the right. Quotations in the form in which they are to appear on the tape from the mechanism here described will consist of groups of imprints beginning on both lines at the same time and will, therefore, be so compact that frequently the information conveyed in a single group can be comprehended without shift of the eyes or with a movement only in one direction.

While I have herein shown and described one form in which my invention may be embodied, it is to be understood that the construction and arrangement of the various parts may be changed or altered without departing from the spirit and scope thereof and that I am not to be limited to a precise construction, except as such limitation may be set by the appended claims.

I claim as my invention:

1. In a printing telegraph mechanism of the stock ticker'class, two type wheels mounted on independently-rotatable shafts and having one a single row of type characters, mostly letters, on its face and the other a single row of type characters, mostly figures, on the face thereof, said shafts respectively having stop arms through e the face-thereof and provided respectively with interception ':of which to .enable rotary motion of the type wheels -to be stopped,means for imparting rotary motion to the type wheels independently through friction'clutches and two character selectordev'ics provided with means for receiving separate electric selection impulses and respectively with stop pins for stoppingsaid type wheels by interception of said stop arms at predeter- -mined positions relative to selected typecharacters. v

2. In a printing "telegraph mechanism of the stock ticker class, two ,independently-rotatable type wheels having'one a single row o'f-typ'e characters, mostly letters, on its face and the other a single row of type characters, mostly figures, on

means through interception ofwhich to enable rotary motion of said type wheels to be stopped,

means for imparting rotary motion to the type 20' Wheels independently through friction clutches and two character selector devices actuated through separately transmitted electric impulses and provided respectively with means for stopping said type wheels by intercepting movement at predetermined positions relative to selected type characters.

3. In a printing telegraph mechanism of the stock ticker class, two independently-rotatable type wheels mounted one on a solid shaft and the other adjacent thereto on a hollow shaft forming a sleeve on part of the solid shaft, said shafts respectively having means through interception of which to enable rotary motion of said type wheels to be stopped, means for imparting rotary motion to the type wheels independently through friction clutches and means respectively coordinated with the type wheels and responsive operably to definite mechanical adjustments effected through separate electric impulses for stopping said type wheels by intercepting movement at predetermined positions relative to selected type characters.

4. In a printing telegraph mechanism of the stock ticker class, two independently-rotatable type wheels provided respectively with means through interception of which to enable rotary motion of said type wheels to be stopped, a duplicate friction clutch device having two friction clutches associated with a rotatable member to transmit rotary motion independently to the type wheels and two character selecting devices provided with means for receiving separate electric selection impulses and respectively with means for stopping said type wheels by intercepting movement at predetermined positions relative to selected type characters.

5. In a printing telegraph mechanism of the stock ticker class, two independently-rotatable type wheels provided respectively with means through interception of which to enable rotary motion of said type wheels to be stopped, a friction clutch device having two friction clutches to transmit rotary motion from a single source respectively to the type wheels and means respectively coordinated with the two type wheels and responsive operably to definite mechanical adjustments effected through separate electric impulses for stopping said type wheels by intercepting movement at predetermined positions relative to selected type characters.

6. In a printing telegraph mechanism of the stock ticker class, two independently-rotatable type wheels provided with means for imparting rotary motion independently to said type wheels through friction clutches, respectively with means by interception of which to enable such rotary motion to be stopped and respectively with means operably responsive to definite mechanical adjustments effected through separate electric impulses for stopping said type wheels by intercepting movement at predetermined positions relative to selected type characters.

'7. In a stock ticker, two independently-rotatable type wheels provided with means for imparting rotary motion through friction clutches, as desired, to either of said type wheels alone, or independently to both, respectively with means through interception of which to enable said rotary motion to be stopped and respectively with means operably responsive to definite mechanical adjustments effected through separate electric impulses for stopping whichever of the two type wheels has been placed in rotation at predetermined positions relativ to selected type characters and, in case both have been placed in rotation, for stopping both type wheels respectively at predetermined positions relative to selected type characters.

8. In a stock ticker, two independently-rotatable type wheels provided with means for imparting rotary motion from a single source independently and simultaneously to said type Wheels through friction clutches.

9. In a stock ticker, two type wheels mounted on independently-rotatable shafts and provided with means for imparting rotary motion independently, simultaneously and at substantially the same rate of rotation to said type wheels through friction clutches.

10. In a stock ticker, two type wheels mounted on independently-rotatable shafts and a friction clutch device having two friction clutches coordinated with a single rotatable element and respectively through said shafts with the two type wheels.

IRA D. HYSKELL.

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