BANK MERGER.
Fusion in U.S.A. Will Be World's
Second Largest.
HUGE RESOURCES.
NEW YOKK, October 2.
The chairman of the National City Eank, Mr. Charles Mitchell, announces the forthcoming merger of his firm with the Bank of America. The effect will be to form the second largest banking organisation in the world, with combined resources, as at June 30, of 2,311,400,908 dollars (£475,000,000 at par), compared with the Chase National Bank's figure at the same date of more than 2,429,000,000 dollars (£499,000,000). The . Baneamerica-Blair Corporation and the Bank of America of California will be excluded from the merger.
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Bibliographic details
Auckland Star, Volume LXII, Issue 234, 3 October 1931, Page 9
Word Count
98BANK MERGER. Auckland Star, Volume LXII, Issue 234, 3 October 1931, Page 9
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