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K.3 No, 33 ANNOUNCEMENT BY BOARD OF GOVERNORS OF TIE FEDERAL RESERVE SYSTEM "For the week ending September K 1953 CHANGES IN STATE BMK MEMBERSHIP Date e f f e c t i v e Absorption and Establishment of Branch Manufacturers Trust Company, New York, New York, a S t a t e member, has absorbed Peoples I n d u s t r i a l Bank, New York, New York, an i n s u r e d nonmember. A branch was e s t a b l i s h e d i n t h e former l o c a t i o n of Peoples I n d u s t r i a l Bank. 9-8-53 Establishment of Branch 2 Kingston Trust Company, Kingston, New York, a S t a t e member, has e s t a b l i s h e d a branch a t Phoenicia, New York, t o be known as Phoenicia Branch. 9-li-53