Mergers

Steel. The Krupp Nirosta* Co., formed last week by Krupp Steel Works (Essen, Germany) and Ludlum Steel Co. (Watervliet, N. Y.) is a patent holding and service company for the exchange of Ludlum and Krupp ideas. President Edwin Corning of Ludlum will be chairman of the board of directors. "Licensees" (Central Alloy Steel Co. and Firth Sterling Steel Co.) will share U. S. rights with Ludlum.

Insurance. Home Insurance Co. and National Liberty Insurance Co., with their subsidiaries (a total of 12 companies) merged last week to form the largest fire insurance system in the world. Assets: over $175,000,000.

Wood. Lumberman Walter C. Paepoke of Chicago is president of the Chicago Mill and Lumber Corp., largest U. S. hardwood company, a consolidation effected last week, of four southern hardwood companies (Chicago Mill and Lumber Co., Penrod Jurden, R. J. Darnell and Kurz Brothers) and their subsidiaries. Assets: over $25,000,000.

*An alloy, stainless, resistant to most acids, able to withstand 1,800 degrees Fahrenheit, developed by Krupp.