Yarn Merger

Charles R. Flint (Flint & Co., Manhattan), newly-married merger impresario, sent inspectors to 206 southern yarn mills. On the basis of inspectors' reports, he made overtures to 140 chosen mills, whose owners, announced Flint & Co. last week, offered "close cooperation, feeling that the plan was sound and for the good of the industry." When, as, and if the Flint merger is effected, he will borrow from the public some $50,000,000, for additional working capital, and will set operating as one industrial unit some 1,500,000 spindles. Yarn will be furnished more cheaply than ever before (said Flint & Co.) to industries which make bathing suits, shoe laces, automobile tires, underwear, rugs, laces and electrical wires.