HIGH FINANCE: Trouble in the Hive

Ever since ex-Navyman Frederick W. Richmond, tycoon (j.g.), got mixed up with Pittsburgh's Follansbee Steel Corp., he has had more trouble than a bear in a beehive. Richmond offered about $9,300,000 for the company, and planned to sell its equipment to Republic Steel. But when it turned out that Republic would move the mill down South, and thus take the No. 1 employer from the town of Follansbee, W. Va., the entire community swarmed down on Richmond's neck (TIME, Sept. 27). Then a group of stockholders got an injunction postponing the vote...

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