On the New York Stock Exchange, American Telephone & Telegraph, which normally creeps up and down in fractions of points, last week jumped 7 3/8 points in a few hours to an alltime high of 103½. So many buyers were after the stock that the Stock Exchange had to suspend trading for 15 minutes.
All this excitement was caused by an announcement from President Frederick R. Kappel that the company would raise the annual dividend to $3.60 a share, from $3.30, effective in July. It was the second increase in two years, after the company had gone for 37 years without touching...
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