All About Inventions and Discoveries
The Romance of modern scientific and mechanical Achievements

342 All About Inventions engaged in this task realised that they would have to embark upon extensive alterations to their studios to keep pace with the demand of the market. In America the majority of the huge producing establish- ments have grown from small proportions, and are still owned by private interests. In order to give some idea of the value of these undertakings, it may be mentioned that a short while ago a syndicate of financiers, anxious to participate in the new industry, approached one of the well-known firms and offered to buy the partners out. But the latter did not evince any desire to dispose of their property. The offers were renewed, and at last the partners stated their terms. They were £800,000 in cash and £400,000 in shares. They refused to take a penny less. Need- less to say, the financiers were nonplussed. They had no idea that these establishments were likely to be so exacting in their terms ; but they were enlight- ened when they were told that the business was yield- ing a profit considerably in advance of £100,000 per year, that the partners were then even contemplating extensions which would run away with more than £250,000, and that the plant as it stood at the time of the negotiations was worth a good deal more than £500,000. The movement in America in the picture-producing realms has achieved its highest pinnacle through the initiative of one man, Carl Laemmle. A few miles outside the city of Los Angeles he lias established, not a studio, but a city of 1,500 inhabitants, each of whom is a performer. Universal City it is called, and it is unique. It was brought into being merely to double the output of the previous producing