The total number of
connections would all but certainly be far greater than the maximum number of simultaneous
calls which could be supported.
Under PSTN, public-switched telephone networks, a not-infrequent occurrence, especially when calling long-distance, was to get a message "all circuits are busy". When each call was literally a circuit, and the "switch" (the central telephone exchange) made and broke those circuits as calls began and ended, my understanding (not my area of expertise, but one of some interest) is that this meant that all available interchange connections were occupied. For long-distance, this was typically far lower than for local calls (most phone traffic is local), and for international calls, lower still. The first transatlantic telephone cable could support only 36 simultaneous calls, in 1956. Calls were short, expensive, and all but exclusively for business and government subscribers.
<https://hamhistory.org/first-transatlantic-telephone-cable/>
I'd expect that the Stockholm exchange probably supported a few hundred simultaneous calls, probably a few (a dozen or so perhaps) per operator, who had to physically connect each call.