Word: telegraphs
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There were a mere few thousand holders of company stocks in 1917; now there are more than 22 million with a stake in business. Three million hold shares in American Telephone & Telegraph Co. alone, and one-third of General Electric's shareholder-owners got some of their stock through savings and bonus plans...
...Dunster show, despite occasional bright performances, manages to obscure much of the script's brilliance. Director Peter Schandorff allows his actors to telegraph each of the punchlines. This throws off the pace of the show so that, at times, the performance degenerates into a string of jokes--each followed by a blackout. His own smothering of the Lord Russell sequence is the best example of this...
...them failing to realize that the contemplated legislation will probably take a year to go into effect. London newspapers were edgy about the possibility that the crackdown might include a ban on all cigarette advertising. Editorially, some papers began to inveigh against abuse of government control. Said the Daily Telegraph: "Freedom must include the right to take calculated risks even to life itself...
Last week it did: an exchange of stock with a per-share value of $35 for each of 5,500,000 Sheraton shares outstanding. Making the $193 million bid was Harold S. Geneen (TIME cover, Sept. 8), chairman-president of the vast conglomerate International Telephone & Telegraph Corp. Sheraton and its 129 U.S. hotels and motels, together with 25 overseas, should fit nicely into ITT's "consumer services" group, which already includes Avis, Airport Parking Co. and 16 Holiday Inn franchises. For the time being, at least, Geneen will let Henderson and Boonisar run his 45th acquisition...
...Including Western Union Chairman Russell McFall, who has put the telegraph utility on an ambitious diversification course, both Chairman Fred Sullivan and President Franc Ricciardi of the fast-growing conglomerate, Walter Kidde & Co., and George Scharffenberger, freewheeling president, of New York-based City Investing...