November 24, 1987

LEAD: Companies

LEAD: * Adams-Russell Co., Waltham, Mass., a maker of microwave products, said its shareholders had approved its acquisition of Cablevision Systems Corp., based in Woodbury, L.I. Under the agreement, each Adams-Russell shareholder would receive $43.075 per share in cash.

LEAD: Three defendants, after hearing a jury find them guilty of murder charges, pulled out hidden razor blades and a sharp piece of metal and battled with court officers in Brooklyn yesterday, leaving 11 of them injured, none seriously.

LEAD: A realtor here recently got a call from a West Virginia man who said he would like to come up and look at a good-sized plot of land, 300 acres or so, for building purposes. That was hardly unusual. But when the man arrived a few days later, his head shaved and his body draped in saffron robes, and announced that he wanted the land to build a walled ''City of

LEAD: Losing a two-year struggle to remain independent, E. F. Hutton, for years a pre-eminent name on Wall Street, has put itself up for sale.