The recession has slowed but by no means stopped expansion of the world's biggest utility. American Telephone & Telegraph Co. President Frederick R. Kappel reported last week that second-quarter earnings of the Bell System topped those in 1957. A first-quarter decline in the company's business has been reversed.
In the second quarter, Kappel noted, the number of new phones installed totaled "about 500,000—slightly more than in the first quarter," but still well below last year's figure of close to 700,000. Long-distance phone calls rose by 4% during the first half. Together, the two gains...
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