Business: Teletype Split

Known to few was the Morkrum-Kleinschmidt Corp. of Chicago. When it changed its name to Teletype Corp. the nature of its business became clear but much more than half of its sales were made to three customers: American Telephone & Telegraph, Postal Telegraph & Cable, Western Union. Little surprise was occasioned when Teletype Corp. was bought by A. T. & T. for $31,500,000 (TIME, Sept. 29, 1930).

A teletype is a machine which can send and receive typed messages over a wire. Business houses use them to connect with branch offices; police and fire...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!