1. A multi-head knitting maching having a control bay, a plurality of knitting heads each having at least one set of linearly arranged knitting needles, at least one fashioning screw arranged in said control bay, a fashioning nut means including a nut housing mounted on each fashioning screw, machine parts means of the type including selvedge stops and fashioning points attached to said nut housing for co-acting with said sets of knitting needles, and motor operated means connected to said fashioning screw for imparting rotation to said fashioning screw for causing lengthwise movement of said fashioning nut housings, at least one coded element attached to said nut housing and operatively associated with said needles of the machine, a comparator, reading means coupled to said comparator for scanning said coded element and transmitting to said comparator a signal indicating the actual position of said fashioning nut housing, at least one coded control tape, other reading means coupled to said comparator for scanning said coded control tape and transmitting to said comparator a signal indicating a position to which said fashioning nut housing is to be moved, and means coupled to said motor operated means for utilizing information imparted thereto by said comparator to control the speed and the direction of operation of said motor operated means, said coded element comprising a control plate formed with coded information, an actuating bar supporting said control plate and adjustably connected to said nut housing, said control plate being movable under the action of said nut housing relative to reading means, said reading means being disposed in said control bay.

3. A multi-head knitting machine having a control bay, a plurality of knitting heads each having at least one set of linearly arranged knitting needles, left hand and right hand fashioning screws arranged in said control bay, a fashioning nut housing mounted on each of said fashioning screws, machine parts attached to said nut housings for co-acting with said sets of knitting needles, and motor operated means connected to said fashioning screws for imparting rotation to said fashioning screws and cause lengthwise movement of said fashioning nut housings; at least one coded control plate attached to each of said nut housings and operatively associated with said needles of the machine, a digital comparator, a scanning head assembly connected to said comparator and having a reading head and a light source positioned to scan said coded control plates and being operative to transmit to said comparator a signal indicating the actual position of said fashioning nut housings, at least one coded control tape, reading means connected to said comparator for scanning said coded control tape and transmitting to said comparator a signal indicating positions to which said fashioning nut housings are to be moved, and means connected to said comparator for receiving information and utilizing such information to control the speed and the direction of operation of said motor operated means; said motor operated means including an hydraulic motor, a solenoid operated control valve controlling said motor, and drive means connecting said motor and said fashioning screws.