Mergers

Notable among mergers, acquisitions, consolidations, last week, were:

Chain Stores. To the McCrory Stores Corp., operating 199 stores (Five and Ten Cent), came the 1-year-old Swingle's 5 Cent to $1 Stores, Inc., with 15 stores; 1927 sales of $1,200,000.

Steel. Republic Iron & Steel Co. (Youngstown, Ohio) approved consolidation with the smaller Steel & Tubes, Inc., (Cleveland, Ohio), for these reasons: Republic can furnish Steel & Tubes with strip steel and pipe, developing its coal and ore reserves, bringing plant operation near capacity. Assets of the two companies total about $200,000,000. Steel & Tubes, Inc., rose from the business of the Wick family of Youngstown and Cleveland. An astute, enterprising Wick is Myron A., now President of Steel & Tubes.

Drugs. Through the organization of the McKesson & Robbins Holding Co., U.S. wholesale druggists consolidated an annual sales volume of $80,000,000. Into the merger came: McKesson & Robbins Co. (N.Y., Conn.); Gibson Snow Co. (N.Y.); Bedsole-Colvin Co. (Ala.); Churchill Co. (Ill., Iowa, Neb.); Eastern Co. (Mass.); Farrand, Williams & Clark Co. (Mich.); Faxon & Gallagher Co (Mo.); Fuller Morrison Co. (Ill.); Halvan Gorder Co. (O.); Kirk, Geary & Co. (Calif.); Langley Michaels Co. (Calif.); Minneapolis Co. (Minn.); Murray Co (S.C.); Roeber & Kuebler (N.J.); Southern Co. (Tex.); Western Wholesale Co. (Calif., Ariz.).