Word: telegraphs
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...York Stock Exchange, American Telephone & Telegraph, which normally creeps up and down in fractions of points, last week jumped 7 3/8 points in a few hours to an alltime high of 103½. So many buyers were after the stock that the Stock Exchange had to suspend trading for 15 minutes...
...means only trouble in the long run. A stock that is constantly running up and down on unfounded rumors soon gets a bad name among long-term investors, the type of stockholder that corporations want. All Wall Street might take a lesson from the biggest U.S. company, American Telephone & Telegraph Co. Last week it announced an increase in its dividend (see State of Business) without so much as an advance whisper reaching the Street...
...BILLION EXPANSION program was announced by American Telephone & Telegraph Co. for 1961, second largest outlay in company's history, only $100 million below 1960 record. Chief new projects: launching an experimental communications satellite in a north-south orbit over the Atlantic to transmit telephone calls and TV between North America and Europe, and expanding the Data-Phone facilities, by which computers can communicate with one another over regular telephone lines...
...Heinz makes half its sales in foreign markets, and this half produces two-thirds of all Heinz profits. Chesebrough-Pond's gets 57% of its profits from the 40% foreign slice of its sales, Coca-Cola 40% from 35%, Colgate-Palmolive 64% from 51% and International Telephone & Telegraph 75% from 60%. In most of the industrialized free-world countries, there are few or no restrictions on returning profits to the firm's home country...
...money, Thomson acquires a five-sixths interest in the venerable, liberal Belfast Telegraph (circ. 196,000), biggest and best daily in Northern Ireland's overcrowded field, plus the Belfast Weekly Telegraph, the daily Telegraph's international edition, which circulates to Irishmen round the world. The deal also includes Ireland Saturday Night, a prosperous sports magazine with 100,000 subscribers, and two other thriving Irish weeklies...