INCOME CUT was taken by Ford Motor Chairman Henry Ford II last year because of lower company profits. Ford was paid $462,500 in salary and bonus, down from $485,000 in 1959. Former president, now Defense Secretary Robert S. McNamara, was second-highest paid, with $386,667.
SHAREHOLDERS' O.K. was given at the Northern Pacific annual meeting to the road's plan to form the nation's largest rail net by merging with the Great Northern and the Chicago, Burlington & Quincy. I.C.C. will hold hearings on the proposal this summer.
ELECTRONICS MERGER will bring Textron Electronics Inc. into Lionel Corp. in exchange for about $30 million worth...
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