FIRST CHICAGO UNIT BUYS TIME

First Chicago Equity Capital, an investment subsidiary of First Chicago NBD Corp., said it made “a significant equity investment” in General Time Corp. The Atlanta-based firm makes and sells clocks and watches with brand names such as Westclox, Big Ben, Baby Ben, Spartus and Seth Thomas. Of the 20 million clocks it sells annually, General Time said two-thirds are made in Athens, Ga. First Chicago withheld the size of its investment.