Joseph Simon Newman founded The Electro-Set Company in 1914 on $500 in capital. The company built and sold lines of radio equipment, telegraph equipment, electrical experiment kits, telescopes and microscopes. The company flourished until the start of WWI suddenly deprived the company of most of his business. In 1917 it morphed, changing its name to Newman-Stern and mixing in sporting goods with the remaining lines of scientific and electrical equipment. Joe would serve as President of the company and he had two partners: Arnold L. Stern who was strictly an investor and as secretary and treasurer his own younger brother, Art, a bachelor and failed journalist then twenty three years old.