Word: telegraphe
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Last week, in Paris, Morgan-Partner Thomas W. Lamont agreed with Chairman Owen D. Young of the Radio Corp. of America that it would be pleasant for all concerned if the International Telephone & Telegraph Corp. should take over Radio's newborn (TIME, April 1) subsidiary, R.C.A. Communications, Inc. So formal and so important was this friendly agreement that it at once was called an ACCORD. A price was mentioned, around $100,000,000. Vice President David Sarnoff of Radio and Nelson Dean Jay of Morgan's Paris house talked details. U. S. directors of both companies hastily met and approved...
Thus were tentatively linked a great wired system (I.T.&T. controls Postal Telegraph and Cable Corp., All-America Cables, Inc., Commercial Cable Co.) and the communication system of the greatest U. S. wireless company, with a trans-Atlantic service, a ship-to-shore service and much advertised plans to create a point-to-point system within...
...violation of the law, will doubtless be haled before the courts. As Negotiators Lamont and Young are famed not only as financiers, but also as highly ethical businessmen and citizens, they could scarcely plan to flout the law. The only possible alternative, therefore, is the proposition that radio and telegraph do not, in fact, compete...
...shock radio-bugs who insist that because radio is the most recent of communication devices, it is also for all purposes the best. But it is probably true that wherever wires can be conveniently laid and wherever traffic is heavy, wires are better than wireless. In a world system, telegraph wires act as collecting and distributing agencies for the long-distance leaps of cable and radio. Some such far-seeing plan may have been in the minds of Negotiators Lamont and Young, last week, when they proposed to join R.C.A. Communications to I.T.&T.'s vast network of cable, telegraph...
...Last week, when Paris correspondents feverishly cabled their great scoop, every well-informed businessman knew about the giant I.T.&T. whose stock had gone up more than 100 points in one year. A year ago, before the Brothers Behn acquired the Mackay telegraph and cable systems (TIME, April 2, 1928), many an executive would have been put to it to explain: 1) What was the International Telephone & Telegraph Corp.; and 2 ) Who were Sosthenes and Hernand Behn...