Banking Week

Notable in banking developments of last week were a deal, a rumor, a record.

Deal. Unusual was the transaction by which a bond was established between Transamerica Corp., giant Giannini-founded holding company, and Union des Mines, large French industrial bank. Each gave the other a substantial but minority stock interest; officials of each will be invited to join the other. The deal will give Transamerica, which already controls Milan's Banca d'America e d'Italia, association with the French electrical, metal, chemical and coal industries.

Rumor. In anticipation of a repeal of branch-banking restrictions, two potent groups of Pittsburgh bankers were said last week to be sponging up many out-of-town banks. Through their Mellbank Corp., the Mellons were reported to be lining up at least 50 banks. Acting independently, the Hillman interests of the Peoples-Pittsburgh Trust Co. were said to have 25 banks in view.

Record. Publishing its June 30 statement a few days later than most Manhattan banks, Chase National revealed figures of new record-smashing size, remains world's largest bank. Total Chase resources came to $2,648,000,000; deposits were $2,065,000,000. National City remained second in Manhattan with resources of $2,078,000,000; close behind was Guaranty Trust with $2,038,000,000.

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