1
                                                                      EXHIBIT 21


                                                             Emerson contact:
                                                             William K. Anderson
                                                             or Carter L. Dunkin
                                                             314-982-1700

                                                             Daniel contact:
                                                             Sean P. O'Neill
                                                             713-827-3892


FOR IMMEDIATE RELEASE

                EMERSON ELECTRIC CO. AND DANIEL INDUSTRIES, INC.
                      SETTLE PURPORTED CLASS ACTION LAWSUIT
                         BROUGHT BY A DANIEL STOCKHOLDER


         ST. LOUIS, June 7, 1999 -- Emerson Electric Co. (NYSE:EMR) and Daniel
Industries, Inc. (NYSE:DAN) announced today an agreement in principle, subject
to court approval, to settle litigation filed by a Daniel stockholder with
respect to the transactions contemplated by the merger agreement providing for
the acquisition of Daniel by a wholly owned subsidiary of Emerson.

         The lawsuit was purportedly filed on behalf of the stockholders of
Daniel.

         A memorandum of understanding provides that Daniel will furnish certain
supplemental disclosures in an amendment to its Schedule 14D-9, which was filed
today with the Securities and Exchange Commission and which is being mailed
today to Daniel stockholders. The memorandum of understanding will also be filed
today with the SEC as an exhibit to both an amendment to Daniel's Schedule 14D-9
and an amendment to Emerson's Schedule 14D-1.

         Pursuant to the merger agreement, Emerson's wholly owned subsidiary
commenced a tender offer on May 18, 1999, for all outstanding shares of common
stock of Daniel Industries, Inc. The offer and withdrawal rights under the
tender offer will expire at midnight, EDT, on Tuesday, June 15, 1999, unless the
offer is extended.

         Emerson Electric, based in St. Louis, is a global manufacturer with
market and technology leadership in the areas of process control, industrial
automation, electronics, HVAC, appliance components, electric motors, tools and
storage products. Fiscal 1998 sales totaled $13.4 billion.



                                        1

   2

         Daniel Industries is an international leader in fluid measurement and
flow control products and services for the oil and gas industry. Daniel provides
a wide variety of flowmeters, valves, actuators, control systems and engineered
solutions, primarily for producers, transporters, refiners and processors of oil
and natural gas. The company reported revenues of $283.2 million in 1998.













                                        2