"One Big Union"

Long has the radical cried for "One Big Union," for all the Workers to be gathered together in one all-inclusive organization. Thus far, however, One Big Union for the workers has been a soap-bubble blown from the soapbox. Indeed, it is the Radical's enemy, the Capitalist, who has recently been unifying, and to an extraordinary degree. Fewer and bigger banks-- fewer and bigger department stores-- fewer and bigger soaps--it is in an Age of Merger that Industry lives today. The One Big Union may eventually arrive. But the One Big Business appears more definitely on its way.

Among last week's evidences of business unification were:

Otis-Mather. Famed Cleveland brokers are Otis & Co.; famed Otis & Co. partner is Cyrus S. Eaton, of the Congressional Batons.-- When in Manhattan, Broker Eaton stops at the Biltmore, takes the Presidential Suite. When in Northfield. Ohio, he stays at his summer home (the summer home of Tireman Seiberling is also in Northfield). When in England (which he visited last summer) he rented a. spacious estate, entertained on royal scale. He is a collector of books on sports and supports the Northfield Hunt Club. From faces, Broker Eaton likes to deduce character, studies physiognomies with attentive eye. Broker Eaton and his associates (loosely referred to as the "Eaton interests") have holdings in Republic Iron & Steel, Youngstown Sheet & Tube. Inland Steel, Central Alloy Steel & Otis Steel--a steel group with an aggregate ingot capacity equal to about 70% of U. S. Steel's output.

Last week Broker Eaton's steel interests were expanded to include an "alliance" with the iron interests of another famed Clevelander, William G. Mather, whose Cleveland Cliffs Iron Co. joined the large group of "Eaton interests." Oldest mining company in the Lake Superior region. Cleveland Cliffs Iron Co. iron ore properties ranked with the richest in the country. Its subsidiary properties include a railroad, a fleet of 24 ships, a power company, bituminous coal deposits, and several hundred thousand acres of timber lands. Thus Broker Eaton's various steel companies were assured of ample raw material, and Cleveland's Steel Eatons and Iron Mathers were well and profitably linked.

Radiator-Standard-Johns-Manville. To American Radiator and Standard Sanitary Mfg. came last month a merger. To the combination last week Johns-Manville Corp. came at least as close as rumors could bring it. Basis for rumors was election of Clarence M. Woolley, potent Radia- tor Chairman, to the Johns-Manville directorate, and the recent election of two "Morgan Men" to Radiator directorates. The Morgan House has lately been prominent in the management of Johns-Manville, having installed the late Theodore Merseles as president and succeeded him -- Uncle Charles A. Eaton represents New Jersey; Cousin William R. Eaton, lover of card-tricks, represents Colorado. with Lewis H. Brown, both formerly of Montgomery Ward. So strongly was the predicted merger looked upon as a Morgan maneuver that when, last week. President G. D. Crabbs of Cincinnati's Philip Carey Mfg. Co., showed himself in the Morgan Manhattan offices, the rumors promptly added the Carey name to the merger list. With American Radiator for the heating. Standard Sanitary for the plumbing, and Johns-Manville and Carey for the roofing & shingling, the Morgan House would appear to be a model dwelling.

Black, Starr & Frost-Gorham-Spaulding. Another merger following a merger was definitely announced in the jewelry field. Last March Manhattan's Black, Starr & Frost and Gorham Co. bought themselves a corporate wedding ring and decided to go down the path of business life together. Last week, however, this matrimonial metaphor became somewhat mixed when Spaulding & Co., Inc., joined the union. A holding company--Gorham, Inc.--was formed to handle the joint affairs of the three companies, each of which continued to operate its own establishment. Said Edmund C. Mayo, head of Gorham, Inc.: "U. S. prosperity has brought about a steady increase in the demand for fine jewelry."

McKesson-Robbins-Merrell. Oldest drug house in St. Louis is J. S. Merrell Drug Co., founded in 1845 DY Jacob S. Merrell. Perhaps youngest national drug house is McKesson & Robbins, Inc. (successor to McKesson & Robbins, Inc. of Conn.) formed in 1928 with the merger of 16 drug companies. In March, 1929, McKesson & Robbins, Inc., announced the acquisition of 18 additional companies. Last week J. S. Merrell Drug Co. was sold to McKesson & Robbins, began to operate as a McKesson & Robbins subsidiary. In addition to its U. S. companies, McKesson & Robbins has branches in London, Paris, Montreal, Kobe, Shanghai, Hankow, and many a South American city. The 1928 net earnings of the 16 original companies was $3,741,281.

British G.E.-U.S.G.E. No direct connection has existed between Gerard Swope's U. S. General Electric Co. and Sir Hugo Hirst's British General Electric Co.. Ltd., onetime (TIME, April 1, et seq.) prominent exponent of the Britain-for-the-British financial theory. Last week, however, such a connection was rumored in the report that British G. E. contemplated merging with Associated Electrical Industries, Ltd., largest British makers of electrical equipment. Inasmuch as Associated Electrical Industries is about one-third owned by International Electric Co., and as this latter corporation is a subsidiary of U. S. General Electric, it seemed at least possible that Sir Hugo might find himself indeed entangled in the tentacles of the U. S. Money Octopus. Rumored negotiations between British G. E. and Associated Electrical Industries were last month denied, but Sir Hugo's unsuccessful attempt to keep British G. E. stock from U. S. holders was said to have resulted in a resumption of merger conferences.

*Uncle Charles A. Eaton represents New Jersey:Cousin William R. Eaton, lover of card-tricks, represents Colorado.