Bethlehem Steel Corp. was hard hit in pride and pocketbook two months ago. Then, a federal district court in Scranton annulled its 1937 purchase of the Williamsport Wire Rope Co. on the ground that a federal judge had been bribed to approve the deal (TIME, Oct. 27). Last week Bethlehem found a way to clear its name and get back Williamsport. It agreed to pay Williamsport stockholders an extra $6,000,000 for a clear title to the company (it had originally paid $3,300,000 for the business while it was in receivership). In approving the terms of the settlement, Judge Albert L. Watson...
To continue reading:
or
Log-In
