Last week the following were news:
Louis Graveraet Kaufman, 59, resigned as chairman of the executive committee of Manhattan's Manufacturers Trust Co. (with which his Chatham Phenix National Bank & Trust Co. was merged in February). While president of the Michigan Bankers' Association he discovered that national banks might branch with the Comptroller of the Currency's permission. He kept mum, went to New York to purchase the old Phenix Bank. After merging the Chatham Bank, he acquired several others which he operated as branches. Bets as high as $5,000 were made that he...
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