AT&T; Seeks $1.5-Billion Cut

American Telephone & Telegraph Co. today proposed the largest rate reduction in its history, a $1.5-billion drop in long-distance charges to be effective June 1.

The price drop--11.4% for daytime and evening long-distance calls--goes into effect automatically unless the Federal Communications Commission blocks it. AT&T;’s late-night and weekend rates would be reduced 2.7%.