BANKING: A New Fourth?

Two Manhattan banks last week announced their intention to merge. The banks: Manufacturers Trust Co. ($2.5 billion in deposits), New York Trust Co. ($695 million). If stockholders approve the merger, the new bank, to be called the New York Manufacturers Trust Co., will become the fourth biggest in the U.S., displacing Manhattan's Guaranty Trust.*

*Top three: Bank of America, National City Bank of New York, Chase National Bank.

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