New York, Jan, 25.
The Chase National Bank, in a. statement issued here, announced details of the plan 27 under which the Bank proposed to sell to the Reconstruction Finance Corpora feunvul Preferred stock tion $50,000,000 of five per cent,
par valve of $20 each. The plan be submitted for the approval of the bank's stockholders at a mecting, in February, units detailed statement regarding 16 plan sai "This plan involves simultaneous reduction of the common stock of the bank from $148,000,000 to $100,- 270,000 by changing the par value of the common stock from §20 te $12.55. per share, without, however, changing the number of the shares outstanding. The Comptroller of the Currency and the Federal Reserve Board, which have jurisdiction in the matter, have given assets, and that no distribution on Jaccount thereof be made to share "After using the released capital in this way: the new capital set of the Chase National Bank wil "Preferred Stock, Spor ent cumulative 900,08 Par value of shares ach 3806 con 100,900,008 Par value of Sins ence hare Total. 3200270,000
"The statement of the Bank will show reserves of approximately }§14,000,000. Tu addition, the funds of the hank' will include unallocated. reserves, not appearing in the state. ment, of a very substantial amount." United Press.
Text read from the printed page and cleaned; old type leaves the occasional error.