Word: telegraphing
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Dates: during 1960-1960
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...death of Joseph R. Farrington, son of the paper's founder and longtime Hawaii delegate to the U.S. Congress, generated a court fight for control between Farrington's widow Betty and his sister, wife of General Edmond H. Leavey (ret.), ex-president of the International Telephone & Telegraph Corp. Betty Farrington won a 2-1 majority, but lost the services of her editor and friend. In appointing Editor Allen as a trustee of the Farrington estate, the court stipulated that Allen would have to give up all participation in the newspaper's editorial affairs. He chose...
There are other reasons besides wages for going abroad. The International Telephone & Telegraph Corp., which announced last week that it may soon resume sales of foreign-made consumer equipment (radios, appliances, etc.) in the U.S., is already bringing in automatic post-office equipment made by its Belgian and German subsidiaries. Reason: I.T. & T. says that the equipment is technically superior to any available in the U.S. Manhattan's Lafayette Brass Manufacturing
...survey of first-quarter portfolio changes by 42 leading investment companies. Wall Street's E. F. Hutton & Co. reported that some built up cash and bond holdings, while an equal number took the opposite position, bought heavily in common stocks. There was big buying in American Telephone & Telegraph, International Business Machines, Arkansas Louisiana Gas, Tampa Electric, and Babcock & Wilcox. Selling was heavy in such drug stocks as Chas, Pfizer, Merck, and Parke, Davis, following the unfavorable publicity of the Kefauver hearings...
...chain. In 1956, they sold the Chicago American. Three years later, they merged the San Francisco Call-Bulletin with Scripps-Howard's News, characteristically retaining control only of the account books. And last week, for a reported $5,000,000 cash, the Hearst heirs sold the Pittsburgh Sun-Telegraph (circ. 174,343), which has been losing money at an appalling $3,000,000 annual clip, to the independent Post-Gazette (circ. 272,797). A six-day morning paper, the Post-Gazette will publish mornings, evenings and Sundays as the Post-Gazette & Sun-Telegraph...
...decision was made on a case that began in 1956 when rambunctious Ben Heineman, lawyer turned railroader (TIME, Dec. 15, 1958), stepped into command of the money-losing Chicago & North Western. Heineman found that some telegraph operators at one-man stations scattered along North Western's 9,288-mile route worked as little as 15 minutes a day, yet drew a full day's wage. Heineman decided to eliminate almost 200 of the stations, got an O.K. from regulatory commissions in four states...