According to Wikipedia's article on OneTimes Square:
'On November 6, 1928, an electronic news ticker known as the Motograph News Bulletin (colloquially known as the 'zipper') was introduced near the base of the building. The zipper originally consisted of 14,800 light bulbs and a chain conveyor system; individual letter elements (a form of movable type) were loaded into frames to spell out news headlines. As the frames moved along the conveyor, the letters themselves triggered electrical contacts which lit the external bulbs (the zipper has since been upgraded to use modern LED technology).'
An example of this was seen in the 1933 Warner Bothers film 'Picture Snatcher' starring James Cagney. This example inspired Moving Headlines JNL.
Font Family: Moving Headlines JNL
Tags: 1930s, decorative, display, headline, lights, message board, newspaper, novelty, retro