Ever since the first stockmarket crash there have been stories of a "trouble-spot'' in Manhattan banking. When remedies from within fail, a sure ointment for financial and industrial troubles is a merger. Long has it been hoped that this treatment would be used to assuage the Manhattan sorespot. Recently just such a merger was rumored. Remarkable feature was that it involved the unique plan of consolidating four banks (TIME, Nov. 10 ). They were: Manufacturers Trust, with resources of $463,000,000, greatly expanded during recent years; Public National Bank, with resources of...
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