Ford Acquisition

A Times headline (Aug. 2) reads: “Ford Motor to Acquire First Nationwide for $493 Million in Cash.”

This is concrete evidence of funds acquired and accumulated at the consumer’s expense during the past five-year quota restrictions on auto imports when the selling price of both domestic and foreign vehicles were boosted $1,000 to $2,000 a car with a “take-it-or-leave-it” attitude.

The purpose of the “restrictions”--initiated originally f or one year, then extended to five years--was to be used competitively on the improvement of domestic cars and NOT for outside investments “foreign” to the automobile industry as in the above cited case.

FRED R. HOFELD

Los Angeles