Time Clock, Dec. 26, 1960

$2.5 BILLION EXPANSION program was announced by American Telephone & Telegraph Co. for 1961, second largest outlay in company's history, only $100 million below 1960 record. Chief new projects: launching an experimental communications satellite in a north-south orbit over the Atlantic to transmit telephone calls and TV between North America and Europe, and expanding the Data-Phone facilities, by which computers can communicate with one another over regular telephone lines.

FOREIGN-CAR SALES dropped 26.5% during first ten months of 1960. Only gainer: Volkswagen, whose sales rose 37% to 130,102 cars.

EUROPEAN STOCK MARKETS are losing their bullishness. Value of stock on the Milan Exchange...

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