National Bank (New York, NY)

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Closed Bank Doors Soon, Is Hope

May Be Taken Over by Chase, Says Report

Harry Heyson, president of the National Bank, which closed its doors following three-day its deposits, today that plans under reopen the institution at an date. Meanwhile the Federal Banking Controller has announced the appointment receiver, but by officials of the closed bank plan for reopening the would worked out bethe receiver would act. Merger Is Rumored was reported today that esentatives from Chase Bank and the Manufacturer's Company had conferred with lirectors of the Rockaway instituand that of the acquisition by either the Manhattan institutions would during the week. The bureau of the Chase would neither conthe rumor. The closing the beach instialso resulted heavy run the National Bank Far RockWilliam Glacken, presiof the Far Rockaway bank, the in names bethe two Rockaway banks was esponsible. Run on Second Bank Mr. Glacken said most withdrawwere made by "small depositors." bank, he said, in sound conThe situation developing over the imilarity names, Glacken said, led directors of the bank that new name be given the Rockaway institution steps bring this about would be taken conditions had been traightened out at the beach bank.

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Bank Doors Is Hope Soon,

Over Taken Be Says Report Chase, of the president Heyson, Bank, which National following its doors closed its deposits, on run arfe under plans institution at an the reopen

Federal Banking the announced the apbut was receiver, closed bank of the officials reopening the for worked out bewould be would act. receiver Is Rumored Merger today that repthe Chase from the Manufacturer's and conferred with had Company Rockaway instituthe of the either the by institutions would Manhattan during the coming Chase week. bureau the publicity would neither conthe merger rumor. of the beach insticlosing resulted in heavy run Bank of Far RockNational William J. Glacken, presiFar Rockaway bank, the in names besimilarity Rockaway banks was two

Second Bank on said most withdrawby "small depositors." said, is in sound con- stuation developing over the names, Glacken said, directors of the bank to new name be given the and steps this about would be taken as had been out at the beach bank.