Named after Capitol's headquarters building, Tower was formed as a subsidiary to Capitol in 1964. In its early years, it released recordings by British invasion artists like Freddie and the Dreamers, (whose "I'm Telling You Now" became Tower's only No. 1 hit on Billboard) and Tom Jones (only 6 songs recorded in 1963, that were released by Tower on the strength of his hit "It's Not Unusual" two years later in 1965, much to the dismay of the singer, who was actually signed to London subsidiary, Parrot). It also gave Nilsson his first national releases. Tower's first single (No. 101) was "Car Party/Outta Gas" by The Sunrays, a California pop group produced and managed by Murry Wilson, father of Beach Boys Brian, Dennis and Carl.
Tower record labels from 1964 to approximately 1968 had a solid brownish-orange color. This design was used for both singles and albums. Starting sometime around late 1968 or early 1969 the design was changed to a multicolored stripe label, and again, the stripe design was used for both singles and albums. The stripe label lasted until Tower ceased operations sometime around 1970. Tower releases have numerous many small variations of label type for stereo and mono releases and re-pressings. Minor label variations also sometimes make it possible to determine which of the three Capitol Records factories manufactured each copy.
In 1965, Tower made a bit of a risky move by releasing "You Turn Me On" by Ian Whitcomb, a song that was considered racy by some. It became Whitcomb's biggest hit (and Tower's only other Top 10 record, peaking at No. 8 on Billboard). Other Tower hits that year included "I Live For The Sun" by The Sunrays and "Dirty Water", by The Standells.
In 1966, the label became one of the premiere purveyors of what would later be called garage rock. While not releasing recordings from this genre exclusively, it seemed their greatest chart successes came from garage bands, such as "Blues' Theme" from The Wild Angels by Davie Allan & the Arrows.
Tower released the first recordings by Pink Floyd in the U.S. in 1967 without success after acquiring the rights from EMI's UK Columbia label (a different company than CBS-owned Columbia Records in the USA). Tower released three Pink Floyd albums. The five Pink Floyd singles on Tower have become the most valuable (fetching three figures in mint condition) and sought-after of the label's recordings. Tower released the single "See Emily Play" (Tower 356) three times between July 1967 and late 1968, but each time it failed to reach the top 40. Two other Pink Floyd singles, "Flaming" (Tower 378) and "Let There Be More Light" (Tower 440) are especially rare and were not released at all in the U.K. After the Tower label was dissolved the Pink Floyd albums were re-issued on another Capitol/EMI subsidiary, Harvest Records and later Capitol Records.