Word: tel-autograph
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...moneymaking, money-losing frenzy was started by a statement from Tel-Autograph's President Raymond E. Lee that his company had been told by American Telephone & Telegraph Co.: "For the first time message-rate telewriter service will be permitted over telephone lines on a local and long-range basis." "This means," stated Lee, "it is now possible to send a handwritten message instantaneously by telephone...
...also expansively predicted that the use of telescribing equipment would increase a hundredfold. In one day Tel-Autograph soared 5f points. Lee had-carefully or carelessly-created the impression that TelAutegraph had an exclusive deal with...