A hybrid circuit which converts receiving side four-wire signals from a switching network into two-­wire signals, supplies the same through line B and line A to a telephone terminal equipment, and converts two-wire signals supplied from the telephone terminal equipment through the line A and the line B to the switching network into transmitting side four-wire signals, including a pair of battery feeding and terminating resistors connected between power sources (GND and V BB ) and the line B and line A and a receiving side mirror circuit and transmitting side mirror circuit both connected between the lines B and A.