Deals & Developments

Wire for Oil. News leaked out last week that Aluminum Co. of Canada, sector of the Mellon Empire, had sold $1,000,000 worth of aluminum wire to Russia, will take crude oil in payment (some reports said half the payment would be cash). The oil received in the deal, which Aluminum Co. called a barter "in effect but not literally," will be sold to Montreal's La Salle Petroleum Refinery, Ltd. (incorporated only last May), refined and placed on the Canadian market. Canada's oilmen spoke of "disturbing effects," pointed out that Mellon-controlled Gulf Oil Corp. was a member of the international oil conference which sought to limit Russian exports. Although they muttered about an "embargo," Ottawa was of the opinion that nothing could legally be done. Newshawks discovered the Russian tanker Aase Maersk lying in Montreal harbor loaded with 9,000 tons of rich crude from Batum, already consigned to La Salle Petroleum.

Kitchen Remainder. Sandy-haired Floyd Bostwick Odium, who does not like to be called freckled, went angling again last week with his fast-growing Atlas Corp. He offered Atlas shares in exchange for notes in Pick Barth Holding Corp., onetime big investor in Albert Pick & Co., a leading kitchen equipment concern. The offer was not made because Mr. Odium wanted Atlas to invest in the kitchen business, but because Pick Barth Holding will probably be reorganized, hence its noteholders will control 500,000 shares of Goldman Sachs Trading Corp.. biggest of assets left in Pick Earth's treasury. If the noteholders accept, Atlas Corp. will control 2,500,000 of Goldman Sachs Trading's 5,700,000 shares.

Merger in Meriden. For over 100 years Charles Parker Co. of Meriden, Conn., has made hardware specialties and since the Civil War, the famed Parker shotgun. Last fortnight the company expanded by acquiring the business of Artistic Bronze Co. of Bridgeport, manufacturer of refrigerator accessories, builders' hardware, art lamps.

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