HIGH FINANCE: Deal for Farnsworth

The plant of the Farnsworth Television & Radio Corp. in Fort Wayne, Ind. was about as lonesome as a haunted house. Production had virtually stopped, employment was down from 2,500 to a skeleton crew of a few hundred. Because of its heavy losses (TIME, Jan. 24), Farnsworth stock, which had hit a high of 11¾ a year ago, was slipping steadily.

Last week International Telephone & Telegraph Corp. and Farnsworth officials helped kick it farther down the ladder. I.T. & T. had agreed to buy Farnsworth through an exchange of stock, one share of I.T. & T. for twelve of...

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