More Mergers

Popularly, consolidation and merger are synonymous with each other and with amalgamation, combination and absorption. They all represent the idea of fusion of property, ownership or management of business concerns.

The idea in action last week:

Milwaukee Banks. First Wisconsin National Bank absorbs the American National Bank. It also controls as a subsidiary the First Wisconsin Trust Co. and so will control $135,000,000 assets.

Detroit Banks. People's Wayne County Bank is the consolidation name of People's State Bank and Wayne County & Home Savings Bank; total resources $290,000,000.

Public Utilities. Although no official discussions have occurred, Consolidated Gas, Brooklyn Union Gas Co. and Brooklyn-Edison Co. Inc., public utilities in New York City are in advantageous position for fusion. Their joined assets would total almost $1,000,000,000. Among public utilities only American Telephone & Telegraph would be larger.

Iron & Steel. Although the Inland Steel Co. of Chicago may join the recent merger of the Trumbull Steel Co. and the Republic Iron & Steel Co. (TIME, Dec. 5), it is also possible that Youngstown Sheet & Tube Co. may buy Inland Steel. President James A. Campbell of Youngstown Sheet & Tube has more than $10,000,000 left of the $75,000,000 received from the bonds which Kuhn, Loeb & Co. recently sold for his company (TIME, Dec. 5) and last week he was bargaining with Inland Steel officials. Said he: "The negotiations have reached a stage that anything might happen, but a merger is not likely." Nor is a purchase impossible.