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■AT6 1** C FED ER AL RESERVE BANK O F NEW YORK A p ril 7, 1972 To A ll Banking Instutions in the Second Federal Reserve D istrict: A t the opening of business yesterday, V alley N atio n al B ank of L ong Island, V alley S tream , N. Y., converted into a S tate tru s t com pany, know n as V alley B ank of N ew Y ork. U pon its conversion, the successor bank w as adm itted to m em ber ship in the F ed eral R eserve System . A lfred H a y es, President.