There are very, very few “telephone wires” in the US. They exist in other parts of the world, but almost all telephones in the US are digital.
When you have analog copper wire telephones (what’s sometimes called POTS, for plain old telephone service) the wires only carry one call at a time.
In modern systems, the phone calls are just packets, like the Internet, with headers that say what call they are part of. The packets are all poured into a super-fast pipe and sorted out at the other end.
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