STORY OF THE BOY WHO INVENTED TELEVISION
This week’s fusion story is continued from Page 306, Chapter 31 of Pem Farnsworth’s book, Distant Vision. Fritz arranged for ITT’s Beechcraft plane to pick Phil and me up on October 9, 1965, and then swing by Washington to get him and his lovely wife Page. We landed at White Sulphur Springs Airport, where we were met by the hotel’s limousine. At Greenbrier, the resident physician, Dr. Crumpacker, examined Phil to see if he could determine the cause of his seizures. Dr. Crumpacker found no changes since his previous physical, when he had pronounced him fit but in need of rest. He did, however, note that Phil had a large gallstone, but said it should not cause trouble so long as it was in one piece. He thought it would be a good idea for Phil to put on some weight and take it a little easier. He also suggested that Phil check into Mayo Clinic in Rochester, Minnesota, where he could be examined by the head of Mayo’s neurological department. At the Mayo Clinic, Phil went through with a mill of humanity seeking help. The Mayo Clinic had earned the reputation of a clinic-of-last-resort for thousands of people suffering a variety of illnesses. Phil said it reminded him of his days in Navy boot camp. It was all I could do to persuade him to go back the second day. After three days, Phil was given an anti-spasm medication and told to come back in three weeks for the results of his tests. He had not yet seen the doctor with whom he had the appointment. When we returned, he had an interview with the doctor he had originally come to see. He was told he probably had a petit mal, and would need anti-spasm medication for the rest of his life, especially in times of stress.
During this period, ITT came under even more intense pressure to drop not only the fusion research, but also the entire Farnsworth subsidiary. Various Wall Street investment analysts were now criticizing the direction of ITT, and the Farnsworth operation was at the heart of their jibes. In December 1965, an article appeared in the business section of the San Francisco Examiner, which praised the ITT’s rapid growth, but went on to say: “Several mistakes have been made, one being the acquisition of the Capehart-Farnsworth radio and electronics concern. So there were differences in the board and the management which resulted in the decision to diversify into the fastest growing field, service.” No mention was made in that Examiner article about huge profits made by top managers in 1962 who used lines of credit from the Chemical Bank to buy large blocks of ITT stock before news of the fusion project was leaked to the press; making it the sixteenth most active stock on the New York Stock Exchange with a turnover of 4,116,100 shares.
To understand ITT’s position regarding fusion, it is necessary to see the broader picture of the fusion race at that time. Billions of dollars had been spent overall, and the funding had been withdrawn from many of the groups who had failed to reach a continuous power-sustaining reaction. Billions are still being expended in most countries of the world, where scientists are competing for the honor of being the first to make a breakthrough on producing fusion power. It was hard for us to understand why the ITT directors were beginning to lose faith when it looked so promising, but they were.
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