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US: Letter resulting in nation’s last monopoly celebrates centennial

 |  December 19, 2013

This week marked the 100th anniversary of a monumental letter penned by then-AT&T vice president, a note that reached up to President Woodrow Wilson and resulted in the nation’s last and most powerful monopoly: AT&T.

The letter, written in 1913, aimed to quell competition concerns held by President Wilson, who was threatening legal action against AT&T for its aggressive acquisition spree of rivals.

As the government threatened to break up the company, the 1913 letter written by Nathan C. Kingsbury quelled any concerns the government had, leading officials to drop the conflict and allowing AT&T to maintain its dominance of the telco industry. Kingsbury had agreed to operate the company as a public utility, say reports, a settlement that eventually became law for all telecommunications companies in the country. The letter’s impacts can still be felt in today’s modern industry.

Full Content: Washington Post

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