Word: telegraphe
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Last week for the first time in 40 years Illinois Bell Telephone passed its quarterly dividend. Since 1909 the company has been ringing out a $2 payment four times a year. To American Telephone & Telegraph which owns over 99% of Illinois Bell's stock, the action means a loss of nearly $3,000,000 for the quarter, or at a rate of 63? per year on each & every share of A. T. & T. stock...
Western Union's President Roy Barton White, an oldtime railroad telegrapher who rose to run Central R.R. of New Jersey, had hung out the first bit of dirty linen by sending telegrams to his big customers, inviting them to protest and declaring that for all intents & purposes the President's Code was Postal's code. Bitterly he lashed the proposed fair practice clauses which minutely regulate leased wires, exclusive contracts and special services. At last week's hearings he thundered: "We strenuously object to injecting in the long-established rate arrangement . . . provisions which we know will...
Postal was backing the code, said President White, ''in the hope that they will produce a situation which will either force a consolidation of the telegraph companies, now prohibited by Federal law, or force the Government to take over the properties...
...Western Union vice president dismissed as gross exaggerations reports that his company had sent out 10,000 telegrams, suggesting protest. But Deputy NRAdministrator Peebles said, he has seen copies of messages sent to customers whose telegraph bills did not exceed $2 per month. The vice president replied: "I cannot account for the indiscretions of subordinates...
...whose 4,400 teletypes compete with both telegraph companies, sided with Western Union against the imposition of a code. Radio Corp., whose stake in the domestic communications business is relatively small, was willing to sign anything that its competitors did. But President White made it clear that Western Union would accept what he thought was a Postal code only by court order. His counsel, maintaining that Congress had no intention of codifying an industry already regulated by the Interstate Commerce Commission, swore that Western Union was ready to wage "a legal contest along all fronts...