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1954, NITCO offered additional shares of its stock to Mr. Mussman
and his brother, Gerald Mussman. Mr. Mussman purchased the
shares offered to him, but his brother declined to purchase
additional shares.
Throughout the 1950's, NITCO's earnings were fairly
moderate. In 1951, NITCO's annual net income was about $9,800.
By 1987, however, NITCO's annual revenue exceeded $5 million.
In the early 1960's, Interstate Highway 65 was constructed
through NITCO's service area. The completion of the highway
spurred development and economic growth in NITCO's service area,
which resulted in increased annual revenue for NITCO. New
subdivisions of homes were built, and portions of NITCO's service
area eventually included bedroom communities composed of
individuals who worked in the Gary, Indiana, area, and in the
Chicago, Illinois, area.
NITCO's annual revenue and profits began to increase
significantly in late 1985, as a result of the breakup of the
Bell system and the entry of other companies into the long-
distance telephone service market in competition with AT&T.
Generally, when a long-distance telephone service company, like
AT&T, originates or places a long-distance call into or from an
area serviced by a local telephone company, it pays the local
telephone company an access charge for the use of its lines.
Prior to the breakup of the Bell system, AT&T alone established
and prescribed the access charges it paid to local telephone
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