ITT said its long-distance telephone subsidiary, U.S....

ITT said its long-distance telephone subsidiary, U.S. Transmission Systems, will reduce its rates by up to 21% on July 1 . . . Gulf & Western said its Famous Players motion picture theater chain in Canada will add 60 screens by the end of 1987, nearly doubling its current total of 74 screens . . . Tucson-based Alamito Co.’s stockholders approved the firm’s previously announced $379.5-million acquisition by Osceola Energy Inc.