A switching network includes electronic crosspoint switches for providing electronic connection or disconnection between two voice stations. Each station is connected to the network through a line transformer. When two stations are connected to each other, the voice path in the network includes the secondary winding of the 1st station transformer, a series of crosspoint switches, a middle junctor, a series of crosspoint switches, and the secondary winding of the 2nd station transformer. Each middle junctor includes a negative resistance circuit which introduces a negative resistance in series with the voice path, thus compensating for the series losses in the network, and two negative inductance circuits connected on both sides of the junctor in parallel with the voice path, to compensate for the parallel losses, especially those introduced by the line transformers.