Business: Faults Found

Every man who ever fumed about the phone bill had reason last week to be pleased. Every man accustomed to getting $9 a share in annual dividends on his American Telephone & Telegraph Co. common stock had reason to be anxious. For, in the most far-reaching and drastic report of its kind ever submitted to Congress, Federal Communications Commissioner Paul Walker recommended that telephone rates be cut 25%, and that FCC be given more absolute control over A. T. & T. than any Government agency has ever held over any U. S. industry except...

Want the full story?

Subscribe Now


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

Learn more about the benefits of being a TIME subscriber

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