Business & Finance: Cheaper Calling

When the Federal Communications Commission began a public investigation of American Telephone & Telegraph Co. last spring, a prime charge against the big telephone monopoly was that its long-distance call profits were too fat. Ever since 1926, however, A. T. & T. has found that profits spring from volume rather than high rates. Last week it reduced long-distance rates for the seventh time in ten years.

Under the new schedule, a three-minute call from Manhattan to San Francisco costs $7.50 on weekdays, $4.50 on Sundays. Manhattan to Chicago: $2.50 on weekdays, $1.35 on Sundays....

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