Deals

Hotel Waldorf-Astoria Corp. The cost of the new Hotel Waldorf-Astoria, Manhattan, to be completed in 1931 will be $28,100,000. Erected on New York Central property (Park Avenue from 49th to 50th St.) the railroad will furnish up to $10,000,000 toward the hotel's completion. Other funds will come from the sale of stock and an $11,000,000 bond issue, offered last week.

Emerson's Bromo Seltzer, Inc. High in Baltimore's skyline is the bottle-capped top of the Bromo Seltzer Tower building which contains the offices of the Emerson Drug Co., manufacturers of Bromo Seltzer since 1891. Last week a new holding company, Emerson's Bromo Seltzer, Inc., was formed to take over Emerson Drug and the Maryland Glass Corp. Once making only Bromo Seltzer bottles, Maryland Glass devotes now only about 25% of its business to the famed blue bottle, has an annual capacity of 72,00,000 bottles. Over the company will still preside rotund, hard-playing Capt. Isaac Emerson, whose Bromo Seltzer fortunes have bubbled into millions.

Central Alloy Steel Corp. Plans of Cleveland's Cyrus S. Eaton to form a giant alloy and special steel company were rumored when last week the Central Alloy Steel Corp. with which Mr. Eaton is identified, acquired the Interstate Iron and Steel Co. Central Alloy is the dominant U. S. producer of alloy steels. Interstate is a large manufacturer of iron and steel bars and general wire products, with plants adapted to the production of alloy steels. Donner Steel Co. is another manufacturer of special steels recently Eatonized.