Full text of K.3 Changes in State Member Banks : May 8, 1948

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K,3
No. 17
ANNOUNCEMENT BY

LIBRARY OF THE FEDERAL
RESERVE BANK O F CLEVELAND

BOARD OF GOVERNORS OP THE FEDERAL RESERVE SYSTEM
For t h e week ended Hay 8 , 19I+8
CHANGES IN-STATE BANK MEMBERSHIP
Date
effective

District
Merger and E s t a b l i s h m e n t of Branches
The F i f t h Avenue Bank of New York, New York,
New York, was merged i n t o Bank of New York,
New York, New York, b o t h S t a t e members, under
c h a r t e r of t h e l a t t e r i n s t i t u t i o n and t i t l e of
Bank of New York and F i f t h Avenue Bank. In
c o n n e c t i o n w i t h t h e merger t h e former main
o f f i c e of The F i f t h Avenue Bank, as w e l l as t h e
b r a n c h f o r m e r l y o p e r a t e d b y The F i f t h Avenue
Bank w i l l be o p e r a t e d b y Bank of New York and
F i f t h Avenue Bank,

5-3-1+8

A b s o r p t i o n and E s t a b l i s h m e n t of Branches
Chemical Bank & T r u s t Company, New York, New York,
has absorbed The C o n t i n e n t a l Bank & T r u s t Company
of New York, New York, New York, b o t h S t a t e
members. In c o n n e c t i o n w i t h t h e a b s o r p t i o n t h e
former main o f f i c e of The C o n t i n e n t a l Bank & T r u s t
Company, a s w e l l as t h e two b r a n c h e s f o r m e r l y
o p e r a t e d b y The C o n t i n e n t a l Bank & T r u s t Company,
w i l l be 1 o p e r a t e d b y the Chemical Bank & T r u s t
Company.

5-3-I48

Consolidation
The Bank of P o r t J e f f e r s o n , P o r t J e f f e r s o n , New
York, a S t a t e member, and The F i r s t N a t i o n a l Bank
of P o r t J e f f e r s o n , P o r t J e f f e r s o n , New York, have
c o n s o l i d a t e d under c h a r t e r of The Bank of P o r t
J e f f e r s o n and t i t l e of The Bank of Northern
Brookhaven.

5-3-1+8

NATIONAL BANKS GRANTED•0NE/ OR MORE TRUST POWERS
UNDER SECTION 11 (K), FEDERAL RESERVE ACT
The F i r s t N a t i o n a l Bahk of Leesburg, Leesburg,
Florida.




5-7-1+8