. Bell telephone magazine . d by mail incash—bills, change, and stamps—$2000 of it in one envelope, unreg-istered. By and largk, transactions wentthrough undelayed. The Communi-cations Division found that casesneeding further contacts, by letter orby telephone, were about 10 percentless than for the 1946 convertibledebenture issue. This was due pri-marily to the new simplified warrant—one piece of paper which took thewarrant but no check, and vice versa, place of three—and the fact thatTwo stockholders mistook their war- most stockholders had responded torants for checks and deposited them a s
. Bell telephone magazine . d by mail incash—bills, change, and stamps—$2000 of it in one envelope, unreg-istered. By and largk, transactions wentthrough undelayed. The Communi-cations Division found that casesneeding further contacts, by letter orby telephone, were about 10 percentless than for the 1946 convertibledebenture issue. This was due pri-marily to the new simplified warrant—one piece of paper which took thewarrant but no check, and vice versa, place of three—and the fact thatTwo stockholders mistook their war- most stockholders had responded torants for checks and deposited them a similar offer the previous year,in their banks. Another executed all Of 12,000 cases needing reply, three options on her warrant—to more than half were answered thebuy, to sell, and to transfer her rights day the incoming letter was received,—and mailed it in with a signed-in- and for all but 1,500 cases repliesblank check. Then there were many were made within two days. This is 248 Bell Telephone Magazine WINTER. Frequent conferences were held between supervisors of the A. T. & T. Co?npany and of the Bankers Trust Company to dispose of any questions arising during the handling of transactions in rights for A. T. & T. stockholders a little faster than the time most of ustake with our personal mail. Ourstockholders, like the users of tele-phone service, are entitled to courte-ous, accurate, complete, and promptreplies to their communications, andthat is the way the work of the Com-munications Division was plannedand carried out. T/ie Method of Operation The great majority of the transac-tions conducted by mail went straightthrough without further correspond-ence. Upon reaching the Subscrip- sent the completed subscriptions along 31, 1947 ; six rights wererequired for the purchaseof each $100 convertibledebenture. These evenwarrants went straighton through the processing includedgrouping Into blocks notin excess of 40 subscrip-tions each, removal ofchecks, reg
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