New Britain herald., 1917-03-01
Rockwell Drake Company Enters
 Into Ball Bearing Combine
PLAN FACTORY ADDITIONS
Marlin Arms Company to Buy Assets of -Rockwell-Drake and Standard Roller Bearing Companies-Ru- 
 mcred Headquarters Will Be Here.

ments from the merger announced last evening whereby the Marlin Arms company of New Haven is to absorb the Rockwell-Drake company of this place and the Standard Roller Bear ing company of Philadelphia. Local interest in the combine centers around the probable fate of the Plainville company, and it is the belief that withip few years the town will ex- perience the most remarkable indus trial growth in it's history. While officials of the companies in- cluded in the merger claim that con-
 ditions developing in the future will cause them to make their plans, the opinion is held among local manufac- turers that the agreement will even- tually result in gigantic roller bear ing ufacturing combine and may cause the erection of 8 large plant here. At the same time it is realized that conditions are liable to make it advisable for the centralization of the company's activities with the result
 that the local plant might be given up. Nothing of this character, however, Is planned for the present, according to information obtained from semi- authoritative sources and the com pany will go ahead with the arrange ments made some time ago for the erection of an addition to the build ings now in use. Officers of the Plain vile company have admitted that the plans call for additions which will ! mean doubling of the floor space. the employment of a number of extra hands and big. increase in produc- tion. The plant is extremely busy and is being operated to it's capacity, With the advent of favorable build- ing weather it is expected work on the new buildings will be started and by midsummer the additional floor space
 which will be provided will be in use
 The formation of the new concern is attributed in large measure to the activities of A. F. Rockwell of Bristol, who bought the land here be- fore the factory building was erected and who is said to be behind the Rockwell-Drake company, of which his son is an officer. At the time it was reported that Mir. Rockwell pro- posed to organize company which would be a strong competitor of the New Departure company of Bristol, the presidency of which was taken from him a few years ago. : The Marlin company is now en- gagged exclusively in the. manufacture of munitions and wheni the demand for guns and other implements of war is exhausted, the organization 1 has sought an active manufacturing business. the acquisition of the as- 1 sets of the Philadelphia company and 1 the Plainville concern resulting.
 The Standard Roller Bearing com- 1 parry is one of the biggest mAnufactur- l CTS of ball bearings in the world. It's assets have recently been valued at an 1 amount in excess of $2,6OO,0OO, de- spite the fact that business difiicul- | ties had placed it in the hands Of a l receiver.
 Financial circles report that the Marlin company proposes to pay $2,-l 27O,OOO in cash and 3,35O shares of l Marlin stock, now worth about $3OO,- 900 for the Philadelphia and Plain l vile plants. Stockholders will vote | on the proposition at 8 meeting on | March 13 and as the men concerned 1 in arranging for the purchase con- trol a majority of the shares the en- dorsement of the plan will be but a formality.
 The merger is to be financed, ac- cording to the plans by the sale of $1,5OO,OO0 two year six per cent. notes l which are to be convertible into stock. The shareholders will be advised to vote an increase in the authorized capital and will be asked to approve of a new name for the concern al- | though the local subsidiary may retain it's, individuality for the present.
 In addition Mr.. Rockwell is to ask l the stockholders to make a fifteen year contract with himself. He also desires long contracts with other off, l cers and will suggest that 4,15O shares
 0f cfn no1y 1Hr sAf ofA %r f>> vided among the officers as an in- ducement to cast their tot with the company.
 Reports of big changes in the af- fairs of the Rockwell-Drake company have been in circulation here for number of days but 1t was not until the announcement or the Marlin pur- chase was made that Plainville peo- pie were informed as to the charac- ter of the move. Reports have also been going the rounds that Carl W. Jones, former secretary of the Trum- bull Electric company, is to be iden- tified with the new corporation but they as yet lack confirmation. MT. Jones is at Pinehurst, N. C., for his health and it is understood that he will remain in the south for at least another month.
 President Rockwell admitted last evening. that for the present some of the mergers work will be done in Plainville and that plans are in the making for an addition to the local plant. He nefused to confirm the ru- mor that the concern will have its headquarters here. He explained that until there is 8 let-up in the munitions business the Marlin company's plans will be rather uncertain. The next few months are liable to cause develop ments which will enable the ofIicials F to deternalpe dennitely uISat cbSaSee tbsy III < sIs|