Word: telefonica
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...Telefonica Safe. The heavy, heavy threat that International Telephone & Telegraph Corp.'s big Spanish subsidiary might lose its franchise was lifted last week. When Left-wing deputies demanded that the bill abrogating the contract be brought up for debate, Premier Azana requested that the Cortes refrain from discussion, declaring: "The Government takes full responsibility for the negotiations [with Compania Telefonica National de Espana for a new contract] . . . will stand or fall on the question." The Cortes voted 181 to 11 to let the Government stand, but not until after two excited deputies had started to pummel each other...
Heavy, heavy over the head of International Telephone & Telegraph Corp. hangs the threat that Spain's Cortes (parliament) will declare the franchise for its big subsidiary. Compania Telefonica Nacional de Espana, null & void. The threat has hung over I. T. & T.'s head for eleven months, and last week Left-wing Deputies in the Cortes were shouting loudly for a vote on the bill, a hefty item in the pre-Revolution program against His Catholic Majesty Alfonso XIII. The shouting Deputies claim the franchise was illegal, that it was obtained only after a thumping bribe was slipped...
...Telefonica Nacional, which will permit them to kill the bill without politically killing themselves. I. T. & T. officials plan to stand squarely on their legal rights, point out that nearly one-third of Telefonica National's stock is held in Spain. (I. T. & T.'s investment in Spanish telephones is about $65,000,000.) Thoughtful Spaniards argue that repudiation of the contract would injure Spanish credit, might cause exclusion of Spanish wines from the hoped-for U. S. market...
...strike got under way slowly. Members of other unions in the Telefonica refused to go out with the Syndicalists, nearly normal service was maintained for three days. Then wire-cutters got to work. Somewhere in the desolate tableland south of Zaragoza the main line to Barcelona was severed. Other snippers cut Spain from the outside world for a time by breaking the international line just outside Madrid...
Syndicalists did best in Barcelona, where they claim a strength of 300.000 and the silent support of Catalonia's "President," Francisco Macia. More than 700 telephone operators left their desks. Lewis J. Proctor, U. S. manager of Telefonica, was severely beaten as he tried to leave his office. Dock workers went out in a sympathy strike, so did employes of the gas works. The Government rushed destroyers and a squadron of airplanes up from Cartagena to maintain order...