IBM 701 & 7 shares become $150,000.00

Sunday, May 24th, 2009

Mentioned the privilege of luncheon with Oliver Smithies. While standing about, I met a senior chemical executive and renown scientist in his own right. We discussed my work at IBM. He quickly offered that he was among the first civilians to work on IBM’s series 701 computer, the first one available with addressable memory because of an improved design from punch cards to electronic memory. He recalled the day that he travelled to Madison Avenue in New York City to run his calculations. ‘Worked the first time that I tried, unlike the old days when a faulty vacuum tube would crash the entire calculation.” 141511

He purchased seven (7) shares of IBM stock. “Cost over $100 each, even in 1953”. I asked if he still had them. “Yes,” he replied cheerfull, “the same seven shares are worth more than $150,000.”