New York, Aug. 17.
American Tel & Tel. stock on] the New York Stock Exchange was] greatly helped to-day by an Rouncement. from Lofdon to the ect that the company is involved in negotiations for a site for a ipinus in Ireland for a_trans-'Atlantic. telephone cable which is ping Inid at the present time. "Widest interest was instantly ex-Bressed in connection with laying the telephone cable, especially in view of the success of transoceanic radio telephony.
Another announcement said that the company is laying an underground cable carrying many wires to the Pacific coast.
'Walter Gifford, president of the company, declared that there are communications. all over the world largely paralleling those of the A.T, & 7, while other officials say} that' the " trans-Pacific telephone must result from normal demand, for which reasons there are no immediate plans for opening of announcements ver, that the continental cable will hasten communications.
Those revelations are considered of considerable moment in influence ing strength of the company's stock. Wail Street foresees great profits.
Tt Is expected that the coast-to-' coast underground cable will be ready on January 1, Much of the company's increased business has resulted from the mand for wire service for stockbrokers all over the United States. United Press.
Text read from the printed page and cleaned; old type leaves the occasional error.