Business & Finance: Again, Merger

The utility field was not the only one to feel the urge to merge last week (see p. 52). In New York two large institutions, the Chase National Bank, the National Park Bank, at meetings of their respective boards, agreed to consolidate. Total resources of $1,200,000,000 will make the new company the third largest banking institution in the country, exceeded only by the Guaranty Trust Co., National City Bank. In point of total capital funds, it will be the largest with $340,000,000.


Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!