Business & Finance: Telephone to Washington

A year ago last week Congress instructed the Federal Communications Commission to find out all there was to find out about American Telephone & Telegraph Co. Among reasons cited in support of the Congressional resolution ordering the investigation was the fact that the Bell System had hitherto been entirely overlooked as a subject for a high-powered New Deal inquiry. That omission was in itself an extraordinary tribute to the company's management, for a more likely object for Congressional scrutiny could hardly be imagined.

A. T. & T. is a virtual monopoly, accounting for nearly...

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