EXHIBIT 21
                                                                      ----------

                           SUBSIDIARIES OF REGISTRANT
                           --------------------------


  The registrant is Alco Standard Corporation ("Alco"), an Ohio corporation,
which has no parent. The following sets forth information with respect to Alco's
subsidiaries as of September 30, 1995.

 
 
                                                                                             State or other
                                                                                             jurisdiction of
                                                    % Voting Securities                      incorporation or
Subsidiary                                          Owned (by whom)                          organization
- - ----------                                          -------------------                      ----------------
                                                                                        
Alco Realty, Inc. (ARI)                             100% Alco                                Delaware
   Alco Canada Realty, Inc.                         100% ARI                                 Canada
   375347 British Columbia Ltd.                     100% ARI                                 Canada
                                                                          
Alco Cash Management Company                        100% Alco                                Delaware
The Alco Standard Foundation                        100% Alco                                Pennsylvania
Alco-Texas Realty, Inc.                             100% Alco                                Texas
Chesterbrook Insurance Limited                      100% Alco                                Bermuda
                                                                          
MDR Corporation (MDR)                               100% Alco                                Delaware
   AOP Brands, Inc.                                 100% AOS                                 Delaware
   Alco Office Systems, Inc. (AOS)                  100% MDR                                 Delaware
      AOS North America, Inc.                       100% AOS                                 Delaware
          Alco Office Systems-Canada, Inc.          100% AOS North America, Inc.             Canada
      Alco Capital Resource, Inc.                   100% AOS                                 Georgia
      Alco Office Products (UK) Plc (AOPUK)         100% AOS                                 England
          Erskine House Group PLC (EHGPLC)          100% AOPUK                               England
               Erskine Limited                      100% EHGPLC                              England
      Office Group, Inc.                            100% AOS                                 Delaware
      Office Products, Inc.                         100% AOS                                 Delaware
      Office World Trade, Inc.                      100% AOS                                 Florida
    Alco Standard Acquisition Capital Corporation   100% MDR                                 Delaware
    Alco Standard Ltd.                              100% MDR                                 Delaware
    Alco Standard Petroleum Corporation             100% MDR                                 Delaware
    Alco Venture Capital Company                    100% MDR                                 Delaware

    Unisource Worldwide, Inc. (UWI)                 100%  MDR                                Delaware
      Paper Corporation of North America (PCNA)     100% UWI                                 Delaware
         Unisource Distribuidora, S.A. de C.V.       99% PCNA and 1% UWI                     Mexico
         3813 Holdings, Ltd.                        100% PCNA                                Canada
         Unisource Canada, Inc.                     100% PCNA                                Canada
      Unisource Brands, Inc.                        100% UWI                                 Delaware
      Unisource Direct, Inc.                        100% UWI                                 Delaware
      Unisource International, Inc.                 100% UWI                                 Delaware
      Unisource Realty, Inc.                        100% UWI                                 Delaware
      Unisource Sales Corporation                   100% UWI                                 Delaware
                                                                                
  Partners Securities Company                       100% Alco                                Delaware
  TDFC Corporation                                  100% Alco                                Delaware
  Upshur Coals Corporation                          100% Alco                                West Virginia
  1148189 Onatario Inc.                             100% Alco                                Canada