T-Day on Wall Street

Brokers brace for a flood of trading in the new A T & T stocks

One of the axioms of geometry is that the whole is equal to the sum of its parts. Sometimes, though, the parts can add up to more than the whole. To the delight of Wall Street, that is what seemed to be happening last week with American Telephone & Telegraph.

As part of the breakup of the phone company, which will take place Jan. 1, A T & T last week filed 53,000 documents with the Securities and Exchange Commission. The papers...