Again, Merger

The utility field was not the only one to feel the urge to merge last week (see p. 52). In New York two large institutions, the Chase National Bank, the National Park Bank, at meetings of their respective boards, agreed to consolidate. Total resources of $1,200,000,000 will make the new company the third largest banking institution in the country, exceeded only by the Guaranty Trust Co., National City Bank. In point of total capital funds, it will be the largest with $340,000,000.