Business & Finance: Telephone's Treasurer

Fortnight ago the No. 1 corporation of the world mailed $42,000,000 in dividends to 700,000 shareholders. It was the biggest regular quarterly dividend ever paid by any corporation, received by the biggest single body of stockholders in the world. Few shareholders realized another unique feature about the payment: the checks bore a dead man's signature. They were valid, however, because their real signer was not the Treasurer, but A. T. & T. itself.

Last week, however, a new A. T. & T. treasurer was chosen to succeed the late Hugh Blair-Smith; henceforth the corporation's...

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