What Wall Street delicately terms a "combination of interests," what on other thoroughfares would more bluntly be called a merger, last week transpired between the International Acceptance Bank and the Bank of the Manhattan Co., both of Manhattan. The distinction between interest combination and merger lies in the fact that the two banks will not merge physical properties, but that their stockholders will arrange an interchange of securities. Later there will be formed an investment bank, to be known as International Manhattan Co., so that, like many another bank, the new combination will have an affiliated financing organization whose operations and...
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