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Twentieth-Century Business Archives

The Bell Telephone Co. of Pennsylvania Deal - Lehman Brothers Collection

The Bell Telephone Co. of Pennsylvania

Company DealThe Bell Telephone Company of Pennsylvania: $25,000,000 25-year 3% debentures due April 15, 1974
Transaction TypeDebentures
Deal DescriptionThe Bell Telephone Company of Pennsylvania applied the proceeds from this sale toward repayment of advances from American Telephone and Telegraph Company, parent, which were outstanding in the amount of $28,400,000. The company expected to continue borrowing from the American Company, as the need arose, for general corporate purposes, including extensions, additions, and improvements to its telephone plant. The company's construction expenditures had been requiring and were expected to continue to require substantial amounts of new money.
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