Show Big Big- Banks Enter Million Merger NEW YORK Jan 18 Author W-Author- Author for merging Chatham Phenix Phenix Phe- Phe nix Bank Trust company with Manufacturers Trust company thus forming an institution with resources of nearly was given to today to- to day by stockholders of both Consolidated plans previously accepted by the directorates were ap approved ap- ap proved by the two groups of stockholders stock stock- holders The new bank will be called Manufacturers Trust company To effect the merger an increase of will be made in the capital of Manufacturers Trust This increase Is roughly third one of the stated capItal cap cap- ital of Chatham Phenix which on December 31 reported capital cap cap- ital and surplus and un undivided un- un divided profits The procedure is in line with recently announced plans of banks to write down assets to rock bottom figures by transferring a portion por por- tion of their capital funds into special cial reserves Giving effect to the consolidation Manufacturers Trust will create 1 shares of 20 stock to replace the shares of 25 stock now outstanding |