INTERNATIONAL TELEPHONE AND TELE GRAPH CORPORATION, THE, a holding and operating company, incorporated under the laws of the State of Maryland, U.S.A., having its principal office in New York City. This cor poration was organized to develop electrical communication in all its branches. Its present business may be briefly summarized as follows: ( ) Operates through subsidiary companies, telephone systems in the Argentine, Brazil, Chile, China (Shanghai), Cuba, Mexico, Puerto Rico, Peru, Rumania and Spain which are connected by radiotelephone with 93% of the world's telephones.
(2) Operates through the Postal Telegraph-Cable Company, a land line telegraph system within the United States with connec tions by cable and radio to all parts of the world.
(3) Operates the All America Cables System between New York, Central and South America and the West Indies, the Com mercial Cable System between the United States, Canada, Eng land, France and other European countries, and the Commercial Pacific Cable System from San Francisco via the Hawaiian Is lands and the Philippines to China, Japan and other Asiatic countries.
(4) Operates through the Mackay Radio Companies, radio telegraph service between the principal cities of the United States, ship-to-shore service on both the Atlantic and Pacific seaboards and transoceanic service between the United States and Argentina, Austria, Chile, China, Colombia, Cuba, Denmark, Hawaii, Hun gary, Japan, Peru, Philippine Islands and the Vatican City State.
(5) Operates through subsidiary companies, radiotelephone service connecting associated telephone systems in South America and Europe with each other and with other parts of the world.
(6) Manufactures through subsidiary companies, electrical equipment and apparatus related principally to telephone, tele graph, cable and radio operations. Factories and sales organiza tions are located in Antwerp, Berlin, London, Madrid, Paris, Shanghai, Tokyo and other principal cities of the world.
The authorized capital stock of The International Telephone and Telegraph Corporation is 15,000,000 shares without par value of which 6,399,002 shares were outstanding in the hands of the public at Sept. 3o, 1935. The corporation has a funded debt of $35,000,000 in gold debenture bonds due April 1, 1952, $37,661,100 in convertible gold debenture bonds due Jan. 1, 1939 and $5o, 000,000 in gold debenture bonds due Feb. I, 1955. (E. D. T.)