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Telephony, Vol. 1 of 6: A Manual of the Design, Construction, and Operation of Telephone Exchanges (Classic Reprint)

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Excerpt from Telephony, Vol. 1 of 6: A Manual of the Design, Construction, and Operation of Telephone Exchanges

IT is veraciously reported that a quarter of a century ago, when a well-known New York capitalist was asked to invest in some Bell Telephone stock, he gave for his refusal the reason that the American District Telegraph boys were amply sufficient, and a Telephone enterprise would surely fail, as there was no room for an additional company in the business of transmitting messages. T...