Front pages instead of financial sections last week headlined the most important annual report, that of American Telephone & Telegraph Co. Salient facts regarding the Bell system (Western Electric and Bell of Canada not included except as investments) were:
Total assets rose from $3,826,683,584 to $4,228,430,088—the largest nongovernmental organization in the world. A.T.&T. alone had assets of $2,477,023,551.
Operating revenue rose from $975,426,-823 to $1,070,794,449. Net income jumped from $191,087,639 to $217,104,872. Net income of the parent company came to $166,189,758 against $143,170,491. These figures compare to General Motors' $248,282,300 net income in...
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