Word: telegraphe
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Telephones. American Telephone & Telegraph Co., which already holds the record for the largest corporate securities offering ($357 million), will better its mark. It planned a new bond issue of about $391 million, to be dated June 20. A.T. & T. will use the cash to help finance its $2 billion expansion program...
...Western Union engineers finally perfected a rubber insulator for telegraph poles, which is impervious to damage from hunters' bullets or small boys' rocks...
Pittsburgh already has two Sunday papers: Hearst's Sun-Telegraph (circ. 600,000) and the Scripps-Howard Press (circ. 500,000). They politely doubted that there was room for three. Editor E. T. Leech of the Press welcomed the newcomer with a warning: it would start "under a heavy handicap ... in a race in which economic factors make it almost certain that only two can finish...
...circulation to hit a top of 300,000, has handily held its position as Pittsburgh's biggest daily. For his Sunday paper, Andy Bernhard has already signed up a new staff, and has bought Parade for his Sunday supplement. He also tripped up the Sun-Telegraph by taking away some of its best comic strips: Dick Tracy, Gasoline Alley, Terry (the PG, which runs them daily, snagged the Sunday rights...
Last week International Telephone & Telegraph Corp. and Farnsworth officials helped kick it farther down the ladder. I.T. & T. had agreed to buy Farnsworth through an exchange of stock, one share of I.T. & T. for twelve of Farnsworth. Since I.T. & T. was selling for $9.25 and Farnsworth for $2.87, the deal meant that Farnsworth's trade-in value was only about 77? a share. That touched off a selling wave...