I wish merged more objects in Path editor, but I can't find such function. I can't find way to connect one node to other node. See also text on the atteched picture.
Since you are using COOL 3D Studio, maybe you should use Lathe Editor to do the job because what you want to make are lathe objects. Just click the button below the Path Editor button to invoke the Lathe Editor....
And, have you applied the Performance Patch for C3DS already?
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