Word: kappel
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...business recession should be bottoming out now," American Telephone & Telegraph President Frederick R. Kappel last week said to some 2,600 stockholders crowded into the annual meeting in Manhattan. Other cheery news: A.T. & T.'s 1957 profits were up to $852,904,000 v. $777,791,000 in 1956, would probably stay up in 1958. "As to our growth," said Kappel, "I think the significant point right now is that we are furnishing more service despite the general slowing down of the nation's economy." To expand service...
During the 4¾-hour meeting, stockholder after stockholder popped up to ask questions of Kappel. When one weary stockholder finally asked that some stockholders be kept to parliamentary rules, Kappel replied: "That would be the last thing I would want to do to stockholders, who are entitled to have their...
...most optimistic report came from the biggest company of all: American Telephone & Telegraph Co. "With no letup in activity," announced A.T.& T. President Frederick R. Kappel, the Bell System's second-quarter operating revenues totaled $1.6 billion, with a net income of $208.5 million, both about 10% better than last year and both new records for the quarter. Parent A.T.&.T.'s net alone climbed to a record $167.9 million v. $153.2 million in 1956, might soon be even higher. Said Kappel: "At present, the rate of earnings on the capital invested in the Bell System...
...Arthur Burton Goetze (pronounced gets), 55, became president of Western Electric, succeeding Frederick R. Kappel, American Telephone & Telegraph's new president (TIME, Oct. 1). Chicago-born Goetze joined Western Electric in 1917 as a draftsman, took night courses in electrical engineering. By 1952 he moved up to vice president of Western Electric, after a three-year stint as vice president with the Chesapeake & Potomac and the Ohio Bell Telephone companies. CJ Orville Simpson Carpenter, 57, was elected president of the Texas Eastern Transmission Corp., one of the biggest U.S. natural-gas pipeline companies (gross annual revenue...
...studious, tireless executive, Fred Kappel first went to work for the Bell System in 1924 as a $25-a-week groundman fresh out of the University of Minnesota, where he helped pay his way by drumming in a jazz band. Kappel soon ran the gamut of line-crew jobs from splicer to circuit tester, by 1934 was a full-fledged engineer in the Nebraska-South Dakota area. He did so well there that he was called into Northwestern Bell's headquarters at Omaha, where he was promoted to vice president in 1942. Seven years later he was shifted again...