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^
, L?
ANNOUNCEMENT BY
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
A p p l i c a t i o n s and R e p o r t s Received or Acted on
H.2
1972 No. 11
During t h e Week Ending March 11, 1972
District
4
Date
R e g i s t r a t i o n Statement F i l e d Pursuant to
S e c t i o n 12(g) of t h e S e c u r i t i e s Exchange Act
Received
The S a v i n g s & T r u s t Company of I n d i a n a ,
Indiana, Pennsylvania
Amendment #1
*
*
*
*
*
C u r r e n t Report F i l e d P u r s u a n t t o S e c t i o n 13 of
t h e S e c u r i t i e s Exchange Act
Received
The T r u s t Company of New J e r s e y , J e r s e y C i t y ,
New J e r s e y
Amendment # 1
8
3- 6-72
M a n u f a c t u r e r s Bank & T r u s t Company of S t . L o u i s
S t . Louis, Missouri February
3- 8-72
To Withdraw from Membership i n t h e F e d e r a l R e s e r v e
System Without a S i x Month N o t i c e a s P r e s c r i b e d by
S e c t i o n 9 of t h e F e d e r a l Reserve Act
Received
F r u i t a S t a t e Bank, F r u i t a , C o l o r a d o .
Approved
* G a l l a t i n County S t a t e Bank, Ridgeway, I l l i n o i s .
* A p p l i c a t i o n p r o c e s s e d by t h e Reserve Bank on b e h a l f of t h e Board of Governors
under d e l e g a t e d a u t h o r i t y .
3- 8-72
Piedmont T r u s t Bank, M a r t i n s v i l l e , V i r g i n i a
February
* * * * *
10
3- 9-72
11.2
1972 No. 11
10
-2-
Approved Continued
* F r u i t a S t a t e Bank, F r u i t a , C o l o r a d o .
* * * * *
2
To E s t a b l i s h a Domestic Branch P u r s u a n t t o
S e c t i o n 9 of t h e F e d e r a l Reserve Act
Received
The C i t i z e n s S t a t e Bank, L y n d o n v i l l e , New York.
Branch t o be e s t a b l i s h e d i n t h e immediate
neighborhood of t h e i n t e r s e c t i o n of S t a t e
Highway Route 63 and 31A, V i l l a g e of Medina,
O r l e a n s County, New York.
2
Bankers T r u s t Company, New York, New York.
Branch t o be e s t a b l i s h e d a t 4668 Boston
Post Road, Pelham Manor, W e s t c h e s t e r County,
New York.
2
Dutchess Bank and T r u s t Company, Poughkeepsie,
New York. Branch to be e s t a b l i s h e d a t 130 North
Road, P o u g h k e e p s i e , New York.
5
7
12
2
Approved
* F i r s t V i r g i n i a Bank of t h e P e n i n s u l a , Hampton,
V i r g i n i a . Branch t o be e s t a b l i s h e d a t 763 J . Clyde
M o r r i s B o u l e v a r d , Newport News, V i r g i n i a .
* Y p s i l a n t i Savings Bank, Y p s i l a n t i , Michigan.
Branch t o be e s t a b l i s h e d a t t h e c o r n e r s of
P r o s p e c t and C l a r k Roads, S u p e r i o r Township,
Washtenaw County, Michigan.
*Valley Bank of Nevada, Las Vegas,
Branch t o be e s t a b l i s h e d a t t h e
of t h e i n t e r s e c t i o n of S a n d h i l l
Roads, Las Vegas, C l a r k County,
Nevada.
northeast corner
and D e s e r t Inn
Nevada.
Withdrawn
^ C e n t r a l Home T r u s t of E l i z a b e t h New J e r s e y ,
E l i z a b e t h , New J e r s e y . Branch t o be e s t a b l i s h e d
in p l o t # 1 , Goodmans C r o s s i n g , i n t e r s e c t i o n of Lake
Avenue and Goodmans C r o s s i n g , Scotch P l a i n s , New J e r s e y .
* * * * *
* A p p l i c a t i o n p r o c e s s e d by t h e Reserve Bank on b e h a l f of t h e Board of Governors
under d e l e g a t e d a u t h o r i t y .
To E s t a b l i s h an Overseas Branch of a Member Bank
P u r s u a n t to S e c t i o n 25 of t h e F e d e r a l Reserve Act
Received
The Chase Manhattan Bank, N a t i o n a l A s s o c i a t i o n ,
New York, New York. Branch t o be e s t a b l i s h e d
in S t . L u c i a , West I n d i e s .
M a n u f a c t u r e r s Hanover T r u s t Company, New York,
New York. Branch t o b e e s t a b l i s h e d i n Nassau,
Bahamas.
Approved
T h i r d N a t i o n a l Bank, N a s h v i l l e , T e n n e s s e e .
Branch t o be e s t a b l i s h e d i n t h e Cayman I s l a n d s ,
West I n d i e s .
Exchange N a t i o n a l Bank of C h i c a g o , Chicago, I l l i n o i s .
Branch t o be e s t a b l i s h e d i n N a s s a u , Bahamas.
H a r r i s T r u s t and Savings Bank, Chicago, I l l i n o i s .
Branch t o be e s t a b l i s h e d i n Nassau, Bahamas.
*
*
*
*
*
H. 2
1972 No. 11
-4To Form a Bank Holding Company P u r s u a n t t o S e c t i o n
3 ( a ) ( 1 ) of t h e Bank Holding Company Act of 1956
Received
Iowa A g r i c u l t u r a l Development C o r p o r a t i o n ,
K n o x v i l l e , Iowa, f o r p r i o r a p p r o v a l t o a c q u i r e
80 p e r cent or more of t h e v o t i n g s h a r e s of The
Bedford N a t i o n a l Bank, B e d f o r d , Iowa.
**Union P l a n t e r s C o r p o r a t i o n , Memphis, T e n n e s s e e ,
f o r p r i o r a p p r o v a l t o a c q u i r e 100 p e r c e n t ( l e s s
d i r e c t o r s 1 q u a l i f y i n g s h a r e s ) of t h e v o t i n g
s h a r e s of t h e s u c c e s s o r by merger t o Union
P l a n t e r s N a t i o n a l Bank of Memphis, Memphis,
Tennessee.
3-10-72
Approved
Old Colony C o - o p e r a t i v e Bank, P r o v i d e n c e , Rhode
I s l a n d , f o r a p p r o v a l t o r e t a i n v o t i n g s h a r e s of
The Newport N a t i o n a l Bank, Newport, Rhode I s l a n d .
* * * * *
To Expand a Bank Holding Company P u r s u a n t t o S e c t i o n
3 ( a ) ( 3 ) of t h e Bank Holding Company Act of 1956
Received
F i r s t N a t i o n a l C i t y C o r p o r a t i o n , New York, New York,
f o r p r i o r a p p r o v a l t o a c q u i r e up t o 100 p e r c e n t
of C i t i b a n k ( E a s t e r n ) , N a t i o n a l A s s o c i a t i o n ,
C a s t l e t o n - o n - H u d s o n , New York, s u c c e s s o r by merger
t o The N a t i o n a l Exchange Bank of C a s t l e t o n - o n Hudson, C a s t l e t o n - o n - H u d s o n , New York.
**United J e r s e y Banks, P r i n c e t o n , New J e r s e y , f o r p r i o r
a p p r o v a l t o a c q u i r e 100 p e r cent ( e x c l u d i n g
d i r e c t o r s 1 q u a l i f y i n g s h a r e s ) of U n i t e d J e r s e y
N a t i o n a l Bank of Cherry H i l l , Cherry H i l l
Township, New J e r s e y .
3-9-72
* * J e f f e r s o n B a n c o r p , I n c . , Miami Beach, F l o r i d a , f o r
p r i o r a p p r o v a l t o a c q u i r e 100 p e r c e n t of t h e
outstanding voting shares (less d i r e c t o r s 1
q u a l i f y i n g s h a r e s ) of J e f f e r s o n N a t i o n a l Bank
a t K e n d a l l , Miami, F l o r i d a , a p r o p o s e d new b a n k .
3-8-72
* * P r o c e s s e d by Reserve Bank on b e h a l f of t h e Board of Governors under
delegated authority.
Received Continued
American B a n c o r p o r a t i o n , Columbus, Ohio, f o r p r i o r
a p p r o v a l t o a c q u i r e 100 p e r c e n t ( l e s s d i r e c t o r s '
q u a l i f y i n g s h a r e s ) of t h e v o t i n g s h a r e s of The
Farmers S t a t e Bank of McClure, Ohio, McClure, Ohio.
Huntington Bancshares I n c o r p o r a t e d , Columbus, Ohio,
f o r p r i o r a p p r o v a l t o a c q u i r e 100 p e r c e n t ( l e s s
d i r e c t o r s ! q u a l i f y i n g s h a r e s ) of t h e v o t i n g s h a r e s
of The F i r s t N a t i o n a l Bank of Kenton, Kenton,
Ohio.
Boatmen's B a n c s h a r e s , I n c . , S t . L o u i s , M i s s o u r i ,
f o r p r i o r a p p r o v a l t o a c q u i r e 90 p e r c e n t or
more of t h e v o t i n g s h a r e s of Bank of T r o y , T r o y ,
Missouri.
Mercantile Bancorporation I n c . , St. Louis, Missouri,
f o r p r i o r a p p r o v a l t o a c q u i r e a t l e a s t 90 p e r
cent of t h e v o t i n g s h a r e s of Trenton N a t i o n a l
Bank, T r e n t o n , M i s s o u r i .
F i r s t N a t i o n a l C h a r t e r C o r p o r a t i o n , Kansas C i t y ,
M i s s o u r i , f o r p r i o r a p p r o v a l t o a c q u i r e 100 p e r
cent of t h e s u c c e s s o r by merger t o The L i v e s t o c k
N a t i o n a l Bank of Kansas C i t y , Kansas C i t y ,
Missouri.
Approved
The Bank of New York Company, I n c . , New York, New
York, f o r p r i o r a p p r o v a l t o a c q u i r e 100 p e r cent
of t h e v o t i n g s h a r e s of t h e s u c c e s s o r by merger
t o V a l l e y N a t i o n a l Bank of Long I s l a n d , Valley
Stream, New York.
County N a t i o n a l B a n c o r p o r a t i o n , C l a y t o n , M i s s o u r i ,
f o r p r i o r a p p r o v a l t o a c q u i r e n o t l e s s t h a n 90
p e r cent of t h e v o t i n g s h a r e s of Big Bend Bank,
Webster Groves, M i s s o u r i .
a * * * *
H. 2
19 72 No. 11
1
-6-
To Expand a Bank Holding Company P u r s u a n t t o S e c t i o n
4 ( c ) ( 8 ) of t h e Bank Holding Company Act of 1956
Received
* * C o l o n i a l Bancorp, I n c . , W a t e r b u r y , C o n n e c t i c u t ,
n o t i f i c a t i o n of i n t e n t t o engage i n a de novo
a c t i v i t y ( l e a s i n g of t a n g i b l e p e r s o n a l p r o p e r t y )
t h r o u g h a new s u b s i d i a r y known as Colbanc L e a s i n g
Corporation, Waterbury, Connecticut.
3-6-72
5
* * F i r s t V i r g i n i a Bankshares C o r p o r a t i o n , A r l i n g t o n ,
V i r g i n i a , n o t i f i c a t i o n of i n t e n t t o engage i n
a de novo a c t i v i t y (making o r a c q u i r i n g f o r i t s
own account o r f o r t h e a c c o u n t of o t h e r s , consumer
l o a n s f o r p e r s o n a l , f a m i l y , or h o u s e h o l d p u r p o s e s
and o t h e r l o a n s and e x t e n s i o n s of c r e d i t ) a t
D a n v i l l e , V i r g i n i a , through a s u b s i d i a r y t o be
known as S c h o o l f i e l d F i n a n c i a l Company, D a n v i l l e ,
Virginia.
3-8-72
6
* * C e n t r a l and S t a t e N a t i o n a l C o r p o r a t i o n of Alabama,
Birmingham, Alabama, n o t i f i c a t i o n of i n t e n t t o
engage i n de novo a c t i v i t i e s (making o r a c q u i r i n g ,
f o r i t s own a c c o u n t o r f o r t h e account of o t h e r s ,
l o a n s and o t h e r e x t e n s i o n s of c r e d i t , i n c l u d i n g
c r e d i t c a r d s and f a c t o r i n g ( i n c l u d i n g i s s u i n g
l e t t e r s of c r e d i t and a c c e p t i n g , d r a f t s ) ) t h r o u g h
a s u b s i d i a r y known as CSN F i n a n c e I n c . , w i t h
o f f i c e s i n Birmingham and D e c a t u r , Alabama.
3-8-72
* * P r o c e s s e d by Reserve Bank of b e h a l f of t h e Board of Governors under
delegated authority.
H.2
1972 No. 11
6
Received Continued
Correction:
**Third N a t i o n a l C o r p o r a t i o n , N a s h v i l l e , T e n n e s s e e ,
3-9-72
n o t i f i c a t i o n of i n t e n t t o engage i n de novo
a c t i v i t i e s ( t o a c q u i r e by p u r c h a s e , l e a s e , o r
o t h e r w i s e a l l k i n d s of t a n g i b l e p r o p e r t y ,
including without l i m i t a t i o n , equipment, f i x t u r e s ,
m a c h i n e r y , motor v e h i c l e s , a i r c r a f t , c o m p u t e r s ,
s h i p and v e s s e l s ; o r any o t h e r a s s e t which a
l e a s i n g company may own o r have an i n t e r e s t i n ,
where a t t h e i n c e p t i o n of t h e i n i t i a l l e a s e t h e
e x p e c t a t i o n i s t h a t t h e e f f e c t of t h e t r a n s a c t i o n
and r e a s o n a b l e a n t i c i p a t e d f u t u r e t r a n s a c t i o n s
w i t h t h e same l e s s e e as t o t h e same p r o p e r t y
w i l l be t o compensate t h e l e s s o r f o r n o t l e s s
than t h e l e s s o r ! s f u l l i n v e s t m e n t i n t h e p r o p e r t y )
through a s u b s i d i a r y known a s S e c u r i t y Third Leasing
C o r p o r a t i o n , N a s h v i l l e , T e n n e s s e e . This was a c c e p t e d on
February 2 4 , 1972, by t h e F e d e r a l Reserve Bank of
A t l a n t a , and r e p o r t e d as r e c e i v e d on H.2 No. 9 .
However, such n o t i c e was r u l e d t o be i n s u f f i c i e n t
and c o n s e q u e n t l y , T h i r d N a t i o n a l C o r p o r a t i o n was
required to republish the n o t i c e . Accordingly, the
45-day w a i t i n g p e r i o d a p p l i c a b l e t o t h i s p r o p o s a l
commenced on March 9 , 19 72.
7
**Marshall & I I s l e y C o r p o r a t i o n , Milwaukee, W i s c o n s i n ,
n o t i f i c a t i o n of i n t e n t t o engage de novo i n
c e r t a i n a c t i v i t i e s (making or a c q u i r i n g f o r i t s
own account or f o r t h e a c c o u n t of o t h e r s , l o a n s
a g a i n s t commercial a c c o u n t s r e c e i v a b l e , i n v e n t o r y ,
p r o d u c t i o n e q u i p m e n t , d e a l e r r e d i s c o u n t p a p e r , and
l i m i t e d dealer f l o o r planning) through a s u b s i d i a r y
t o be known as M&I F i n a n c i a l C o r p . , Milwaukee,
Wisconsin.
9
Northwest B a n c o r p o r a t i o n , M i n n e a p o l i s , M i n n e s o t a , f o r
p r i o r a p p r o v a l t o a c q u i r e a l l of t h e o u t s t a n d i n g
s h a r e s of T. G. Evensen & A s s o c i a t e s , I n c . ,
Minneapolis, Minnesota.
* ^ P r o c e s s e d by Reserve Bank on b e h a l f of t h e Board of Governors under
delegated authority.
3-9-72
H. 2
1972 No. 11
10
1
7
10
Received Continued
**Boulder N a t i o n a l C o r p o r a t i o n , B o u l d e r , C o l o r a d o ,
3-6-72
n o t i f i c a t i o n of i n t e n t t o c o n t i n u e t o engage
i n a jde novo a c t i v i t y ( s a l e of c r e d i t l i f e
and d i s a b i l i t y i n s u r a n c e r e l a t e d t o t h e e x t e n s i o n
of c r e d i t by t h e h o l d i n g company and i t s
s u b s i d i a r i e s and t o engage i n de novo a c t i v i t i e s
(1) p r o p e r t y , c a s u a l t y , l i a b i l i t y , and
(selling:
f i d e l i t y i n s u r a n c e t o t h e h o l d i n g company and
i t s s u b s i d i a r i e s ; (2) h e a l t h , a c c i d e n t , and group
term l i f e i n s u r a n c e on employees of t h e h o l d i n g
company and i t s s u b s i d i a r i e s ; (3) p r o p e r t y and
c a s u a l t y i n s u r a n c e on r e a l o r p e r s o n a l p r o p e r t y t h a t
i s p l e d g e d or mortgaged t o s e c u r e t h e e x t e n s i o n of
c r e d i t by t h e h o l d i n g company or i t s s u b s i d i a r i e s
and (4) o t h e r t y p e s of i n s u r a n c e n e c e s s a r y i n
c o n n e c t i o n w i t h f i d u c i a r y a c t i v i t i e s of s u b s i d i a r y
b a n k s ) ) t h r o u g h a s u b s i d i a r y known as B o u l d e r
N a t i o n a l Agency, B o u l d e r , Colorado.
Approved
Old Colony C o - o p e r a t i v e Bank, P r o v i d e n c e , Rhode I s l a n d ,
f o r p e r m i s s i o n t o c o n t i n u e t o engage i n t h e a c t i v i t i e s
of a t h r i f t i n s t i t u t i o n .
Permitted
* * C o n i l l C o r p o r a t i o n , Chicago, I l l i n o i s , t o engage
3-9-72
de novo i n c e r t a i n a c t i v i t i e s ( l e a s i n g p e r s o n a l
p r o p e r t y and e q u i p m e n t , and a c t i n g as a g e n t ,
b r o k e r , o r a d v i s e r i n t h e l e a s i n g t h e r e o f , where
a t t h e i n c e p t i o n of t h e i n i t i a l l e a s e t h e
e x p e c t a t i o n i s t h a t t h e e f f e c t of t h e t r a n a c t i o n
and r e a s o n a b l e a n t i c i p a t e d f u t u r e t r a n s a c t i o n s
w i t h t h e same l e s s e e as t o t h e same p r o p e r t y
w i l l b e t o compensate t h e l e s s o r f o r n o t l e s s t h a n
the l e s s o r ' s f u l l investment in the property)
t h r o u g h a newly-formed s u b s i d i a r y known as
C o n t i n e n t a l I l l i n o i s L e a s i n g C o r p o r a t i o n , Chicago,
Illinois.
3-11-72
* * A f f i l i a t e d Bankshares of C o l o r a d o , I n c . , B o u l d e r ,
C o l o r a d o , t o engage i n de novo a c t i v i t i e s ( p r o v i d i n g
b o o k k e e p i n g and d a t a p r o c e s s i n g s e r v i c e s f o r t h e
h o l d i n g company and i t s s u b s i d i a r i e s and i n s t o r i n g
and p r o c e s s i n g o t h e r b a n k i n g , f i n a n c i a l or r e l a t e d
economic d a t a f o r t h e customers of s u b s i d i a r y banks
of t h e h o l d i n g company) through a s u b s i d i a r y
known as A f f i l i a t e d Banks S e r v i c e Company, Such
s e r v i c e s a r e t o be o f f e r e d a t o f f i c e s of t h e
A f f i l i a t e d Banks S e r v i c e Company a t 8461 Delaware
^ P r o c e s s e d by R e s e r v e Bank on b e h a l f of t h e Board of Governors under
delegated authority.
H. 2
19 72 No. 11
-9S t r e e t , Denver, C o l o r a d o , and at o f f i c e s of
t h e h o l d i n g company * s s u b s i d i a r i e s i n t h e
following c i t i e s in Colorado: Ault, Boulder,
Colorado S p r i n g s , Denver, F o r t Carson, G r e e l e y ,
L a f a y e t t e , L o v e l a n d , L o u i s v i l l e and Manitou S p r i n g s .
7
Withdrawn
On H.2 No. 51 ( 1 9 7 1 ) , t h e Board r e p o r t e d r e c e i p t
of an a p p l i c a t i o n from I n d i a n a N a t i o n a l
Corporation, Indianapolis, Indiana, for prior
a p p r o v a l t o a c q u i r e a l l of t h e Class A common
s t o c k of Monument I n s u r a n c e Company, P h o e n i x ,
A r i z o n a . In a l e t t e r d a t e d March 1 , 19 72,
Applicant requested t h a t the a p p l i c a t i o n be
withdrawn.
* * * * *
To Expand a Bank Holding Company P u r s u a n t t o S e c t i o n
4 ( c ) ( 1 2 ) of t h e Bank Holding Company Act of 1956
Received
**Warner Communications I n c . , New York, New York,
t h r o u g h t h e i r wholly-owned s u b s i d i a r y , T e l e v i s i o n
Communications C o r p o r a t i o n , New York, New York,
n o t i f i c a t i o n of i n t e n t t o a c q u i r e (a) 80 p e r cent
of t h e o u t s t a n d i n g c a p i t a l s t o c k of Marcus CATV
C o r p o r a t i o n , and (b) a l l of t h e b u s i n e s s and a s s e t s
of Cable I n f o r m a t i o n S y s t e m s , I n c . Marcus CATV
o p e r a t e s i n M a r i n e t t e , W i s c o n s i n and Menominee,
Michigan.
^ ^ C o n t i n e n t a l Western I n d u s t r i e s , I n c . , Des Moines,
Iowa, n o t i f i c a t i o n of i n t e n t t o a c q u i r e D i x i e l i n e
Lumber Company and D i x i e l i n e F i n a n c i a l , I n c . ,
both of San Diego, C a l i f o r n i a .
(The companies
a r e engaged i n t h e b u s i n e s s of d i s t r i b u t i o n of
lumber p r o d u c t s . )
3-6-72
**Marcor I n c . , C h i c a g o , I l l i n o i s , n o t i f i c a t i o n of
i n t e n t t o a c q u i r e Sign of t h e B e e f e a t e r , I n c . ,
Royal Oak, M i c h i g a n , which i s engaged i n o p e r a t i n g
c a f e t e r i a s in the greater Metropolitan D e t r o i t ,
Michigan, a r e a .
3-8-72
* * P r o c e s s e d by Reserve Bank on b e h a l f of t h e Board of Governors under
delegated a u t h o r i t y .
3-10-72
H.2
1972 No. 11
6
-10-
Permitted
**The C h a r t e r Company, J a c k s o n v i l l e , F l o r i d a , t o
a c q u i r e t h e r e m a i n i n g 60 p e r c e n t of t h e
o u t s t a n d i n g s t o c k of Kern County R e f i n e r y I n c . ,
Los A n g e l e s , C a l i f o r n i a , a c o r p o r a t i o n engaged
i n t h e r e f i n i n g of p e t r o l e u m p r o d u c t s i n
B a k e r s f i e l d , C a l i f o r n i a . The C h a r t e r Company
through i t s wholly-owned s u b s i d i a r y , C h a r t e r
O i l Company, J a c k s o n v i l l e , F l o r i d a , p r e s e n t l y
owns 40 p e r cent of t h e c o r p o r a t i o n . The proposed
a c q u i s i t i o n w i l l be accomplished through merger
of Kern County R e f i n e r y I n c . i n t o a s u b s i d i a r y
of The C h a r t e r Company.
* * P r o c e s s e d by Reserve Bank on b e h a l f of t h e Board of Governors under
delegated authority.
3-5-72
@FedFRASER