Equitable-Seaboard. To a Manhattan blase with bank mergers, the union of Equitable Trust Co. with Seaboard National Bank (the unwieldy new name is Equitable Seaboard Bank & Trust Co.) created no furor. Yet the new institution ranked as fifth largest U. S. bank* with resources of approximately 900 million dollars. The new bank will operate under a state trust company charter, thus marking the passing of another (Seaboard) national bank. Merger terms specified exchange of 1 ½ shares of Equitable for one of Seaboard, the Seaboard share carrying with it a share of Seaboard National Corp., the bank's security...
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