PigletsDad
My intelligence test came back negative.
The emitters are pulled negative relative to the bases.
Bipolars generate current gain. The (comon) collector resistor then produce voltage gain.
Its similar to some microwave amp designs that need low noise at high frequencies.
Nice to see this appear after so long from the question.
I got that, just unusual to have VCB so low. Certainly avoids avalanche noise! Will have very low input impedance, below 10Ohms, which will cause some HF roll off in cartridges with higher inductances.
I am also not wild about big electrolytic caps at the input; they have significant leakage current (at least several uA), and the leakage can have all sorts of weird excess noise. I bet these took a while to come on song when they were powered up as the caps reformed.