Business: A. T. & T. Shows the Way

The biggest U.S. private enterprise this week set an upbeat pace for industry with the first-quarter earnings report in its current fiscal year. For the three months ending Feb. 29, the Bell System's share of American Telephone & Telegraph Co. earnings rose to a record $292,223,000, or $1.32 per share v. $1.21 per share in the same period last year. In his quarterly letter to A. T. & T.'s 1,700,000 stockholders, company President Frederick R. Kappel said that new telephone installations for the first quarter would probably exceed 750,000, slightly more than a...

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