Manhattan. Under a broad charter granted in 1799, Manhattan Co., which began as a water-supplying concern, has long engaged in banking through its unit, Bank of the Manhattan Co. Last week stockholders voted to change Bank of the Manhattan Co. to Bank of Manhattan Trust Co., and to increase the authorized capital from $22,250,000 to $40,000,000. Manhattan Co. will use its increased capital to enter the group banking field. Some believe, some hope that the laws against branch banking may be repealed, allowing holding companies to become great multi-branched banking systems.
Equitable Trust...
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