Williamsport Windup

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 called Bethlehem "an innocent victim of circumstances over which it had no control."

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