The company was created, along with the All America Corporation and the Commercial Mackay Corporation, after the reorganization of the ITT subsidiary Postal Telegraph and Cable Corporation, which had gone into bankruptcy in 1935."Officers Named Under Postal Plan," New York Times, 2 February 1940. The firm was active in the 1940s and 1950s. Warren Lee Pierson, the wartime head of the Export-Import Bank, became the firm's president after the war. Kenneth Evans Stockton was elected president in March 1948 and served until his death in 1950."K.E. Stockton Dies; A Cable Executive," New York Times, May 12, 1950, p. 27. Famed admiral William Halsey Jr. was the chairman of the board after 1949.E. B. Potter, Bull Halsey (Naval Institute Press, 1985): 373. Rear Admiral Ellery W. Stone, USN (retired), was president of the firm from 1950 to 1958.Ellery W. Stone, an oral history conducted in 1974 by Frank Polkinghorn, IEEE History Center, New Brunswick, NJ, USA. Another prominent electrical engineer, Haraden Pratt, was vice president from 1953 to 1958. The company was still in existence as late as 1980.
