MONEY & BANKING: Ultimate Encomium

Manhattan's fusty old First National Bank is long on tradition. No employe or officer may smoke, swear or tell risqué stories within its portals. Most desks are roll-tops and on their upper right-hand corners officers' hats are traditionally poised. Last week it looked as though another tradition were forming. For the retirement of First National's Chairman Jackson Eli Reynolds, a onetime lawyer who had no banking experience when he became First National president 17 years ago, gave complete command of Manhattan's ninth largest bank to President Leon Fraser, who also had...

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