Maybe one of these days American investors will come to realize that 30 or so times earnings won't be too high for the stock of a company, which, according to a Capital Gains Research Bureau report (dated September 24, 1959), had earned more money than America's top 35 money-makers except IBM in the 10 years between 1948 and 1958! It's also the same company, you know, whose Bell Telephone Laboratories division was instrumental in bringing about most of the major technological breakthroughs in the electronics industry! "Stable Income Growth" Stocks It was no more than five years ago that old Mother Bell was regarded as just what the doctor ordered for widows, orphans and unimaginative investors who had to think of dividends first. The stock was, of course, all right, but there just wasn't any growth for it. Then the pendulum began to swing the other way. With its recent breaking of the 1928 high, AT&T appears to become a stock with a lot of growth characteristics.


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