CORPORATIONS: Stamp of Success

There is only one official U.S. function that a Government monopoly entrusts to a private monopoly. The company is Connecticut's Pitney-Bowes, Inc. P-B makes, sells, rents and services the postage metering machines* that print and postmark more than $1 billion worth of stamps on business mail every year. This not only saves millions in postal handling costs for the U.S., but it brings to P-B exceptionally high profits of 9¢ per revenue dollar. P-B announced this week that 1958 earnings rose 7% to $4.4 million on gross income of $51.3 million. P-B will split its stock three for...

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