Word: telegraphed
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Dates: during 1960-1969
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...survey of first-quarter portfolio changes by 42 leading investment companies. Wall Street's E. F. Hutton & Co. reported that some built up cash and bond holdings, while an equal number took the opposite position, bought heavily in common stocks. There was big buying in American Telephone & Telegraph, International Business Machines, Arkansas Louisiana Gas, Tampa Electric, and Babcock & Wilcox. Selling was heavy in such drug stocks as Chas, Pfizer, Merck, and Parke, Davis, following the unfavorable publicity of the Kefauver hearings...
...chain. In 1956, they sold the Chicago American. Three years later, they merged the San Francisco Call-Bulletin with Scripps-Howard's News, characteristically retaining control only of the account books. And last week, for a reported $5,000,000 cash, the Hearst heirs sold the Pittsburgh Sun-Telegraph (circ. 174,343), which has been losing money at an appalling $3,000,000 annual clip, to the independent Post-Gazette (circ. 272,797). A six-day morning paper, the Post-Gazette will publish mornings, evenings and Sundays as the Post-Gazette & Sun-Telegraph...
Before some 11,000 expectant stockholders, American Telephone & Telegraph President Frederick R. Kappel rose to applause for his fine 1959 and first-quarter 1960 earnings report (TIME, April 18). ⅛But when President Kappel explained what was on his mind, the cheers turned to groans. Contrary to all hopeful' rumors, said Kappel, A.T. & T. was not considering an immediate boost in the $3.30-per-share annual dividend. "The time since the dividend was last increased was very short-one year-and this is not a long enough period to tell us what we need to know about the future...
...decision was made on a case that began in 1956 when rambunctious Ben Heineman, lawyer turned railroader (TIME, Dec. 15, 1958), stepped into command of the money-losing Chicago & North Western. Heineman found that some telegraph operators at one-man stations scattered along North Western's 9,288-mile route worked as little as 15 minutes a day, yet drew a full day's wage. Heineman decided to eliminate almost 200 of the stations, got an O.K. from regulatory commissions in four states...
...stood Raytheon President Charles Francis Adams, the shrewd and respected Yankee banker who took over Raytheon in 1948, but whose talents are more on the financial than the production side. Announced Geneen abruptly one day: "I'm resigning." He is now president of International Telephone & Telegraph Corp...