Word: telegraphs
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...this year is the voracious appetite of U.S. business for new capital at a time when it remains scarce. Instead of moving into existing stocks, investment money has been flowing into new issues of corporate securities. The most vivid demonstration of the trend came last week when American Telephone & Telegraph Co., the world's largest private enterprise, floated a $3.2 billion financing-a size usually associated only with U.S. Treasury offerings. After the issue went on sale, the Dow-Jones industrial average dropped nearly 10 points in two days as investors switched out of other securities...
Fascination with the subject often shadowed other elements in the painting. Samuel Morse, famous for his telegraph code, painted a seene of a room at the Louvre with an array of well dressed young artists beside their casels in front of a wall striped with the old masters. The painting offered instruction to the American public about art treasure on the other side of the Atlantic. Today the minute imitation of more than thirty paintings crowded on the museum wall make a pattern of curiosities for the eve to probe. Morse used mellow tones in his graceful storv of European...
...most obvious sign of business nervousness is the uniformed guards that now patrol the offices of many non-defense companies. Employees at American Telephone & Telegraph Co. headquarters in Manhattan, for example, must show identification cards every time they enter or leave the building. Visitors with no specific business in the building are firmly escorted outside. Some groups of businessmen even employ private guards in their neighborhoods to supplement the police. Between 59th and 74th streets, New York City's Madison Avenue has a daytime squad of 15 private police hired by the area's merchants...
...were postal workers placated by Nixon's plan for postal reform. The Administration was committed to a plan developed in 1968 by a ten-man Commission on Postal Organization headed by Frederick Kappel, former board chairman of American Telephone and Telegraph Co. The plan recommended abolition of the Cabinet-rank position of Postmaster General and the creation of a Government-owned corporation with power to set postage rates with congressional approval (see box page...
...major copper producers, all U.S. firms. Two of the three candidates in the current presidential campaign call for nationalizing the copper companies completely. Gradual nationalization has also been applied to the U.S.-owned Chilean Power Co., and the state expects to take over 44% of International Telephone & Telegraph's phone subsidiary...