h2_19771022.pdf

2 ' / / ^ ANNOUNCEMENT BY

BOARD OF GOVERNORS OF THE

FEDERAL RESERVE SYSTEM (H.2, 1977 No. 43)

Uniform guidelines for the enforcement of the Truth, in Lending law and its regulatory rules were proposed for public comment today by the five Federal agencies that regulate banks, thrift institutions and credit unions.

The Senate Banking, Housing and Urban Affairs Committee has requested the Federal Deposit Insurance Corporation, with the cooperation of the Federal Reserve System and the Comptroller of the Currency to undertake a survey regard-ing bank stock loans, insider loans and overdrafts at all insured commercial banks.

The Board issued for comment proposals for revised financial reporting requirements that would provide new information on the foreign operations of State member banks and addi-tional information on large banks.

Rules of Procedure, the Board will no longer publish bank holding company and bank merger orders in the Federal Register; copies of these orders will be available upon request to Publication Services, Board of Governors of the Federal Reserve System, Washington, B.C. (Docket No. R-0121)

Letter to Chairman McKinney, Federal Home Loan Bank Board regarding the Federal Home Loan Bank System's desire to increase its sales of Federal funds beyond the $2 billion limit now in effect.

First Missouri Banks, Inc., Creve Coeur, Missouri, request for an additional one-month extension of time until November 30, 1977, to open its de novo bank, First Missouri Bank of West County, St. Louis County, Missouri. 1/

Actions of the Board; Applications and Reports

Received During the Week Ending October 22, 1977

ACTIONS OF THE BOARD

17 Application processed on behalf of the Board of Governors under delegated authority.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.2, 1977 No. 43 - 2 -

ACTIONS OF THE BOARD-Continued

Valley Bancorporatlon, Rexburg, Idaho, extension of time to January 19, 1977, within which to establish its sub-sidiary, Mountain Mortgage Company. 1/

Crowell State Bank, Crowell, Texas, request for permission to make an investment in bank premises. 1J

Grand Marais State Bank, Grand Marais, Minnesota, request for permission to make an investment in bank premises. 1/

Hendricks County Bank & Trust Company, Brownsburg, Indiana, request for permission to make an investment in bank premises. 1/

Mercantile Bank of Springfield, Springfield, Missouri, request for permission to make an additional investment in bank premises. 1/

Security State Bank of Cannon Falls, Cannon Falls, Minnesota, request for permission to make an investment in bank premises. 1/

Detroit Bank - Troy, Troy, Michigan, extension of time to December 23, 1977, within which to establish a branch at the intersection of Maple and John R. Roads, Troy, Michigan. 1 /

TNB National Bank, Circleville, Ohio, proposed merger with The Third National Bank of Circleville, Circleville, Ohio, report to the Comptroller of the Currency on compet-itive factors. 1/

Bank of West Blocton, West Blocton, Alabama, extension of time to January 1, 1978, within which to withdraw from membership in Federal Reserve System.

1/ Application processed on behalf of the Board of Governors under delegated authority.


H.2, 1977 No. 43 - 3 -

ACTIONS OF THE BOARD-Contlnued

To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act

Approved Chemical Bank, New York, New York. Branch to be estab-

lished at the intersection of Oscawana Lake Road and Peekskill Hollow Road, Oregon Corners, Putnam Valley, Putnam County. 2/

The Detroit Bank-Livonia, Livonia, Michigan. Branch to be established at 29504 Seven Mile Road in the Livonia Mall (B-l of "B" Building), Livonia, Wayne County. 2/

Tracy Collins Bank and Trust Company, Salt Lake City, Utah. Branch to be established in the vicinity of 10600 South State Street, Sandy, Salt Lake County. 2/

Withdrawn Long Island Trust Company, Garden City, New York. Branch

to be established at 206 Terminal Drive, Plainview, unincorporated area of Town of Oyster Bay, Nassau County.

* * * * *

To Form a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956

Approved GEMA Financial Corporation, Chicago, Illinois, for ap-

proval to acquire 80 per cent or more of the voting shares of The Lawndale Trust and Savings Bank, Chicago, Illinois.

Lake View Bancorp, Inc., Northbrook, Illinois, for approval to acquire 99.9 per cent of the voting shares of Lake View Trust and Savings Bank, Chicago, Illinois.

Mid Michigan Bank Corporation, Gladwin, Michigan, for ap-proval to acquire 100 per cent of the voting shares of the successor by consolidation to Mid Michigan Bank, Gladwin, Michigan. 2/

Ij Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority.


H.2, 1977 No. 43 - 4 -


To Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of 1956

Returned Money Management Corporation, Chicago, Illinois, notifi-

cation of intent to engage in de novo activities (acting as a financial advisor to banks including furnishing general economic information and advice, providing general economic statistical forecasting services and industry studies to banks, assisting in asset allocation planning (only as incidental to financial advisory ac-tivities) , and publishing and providing of bank sta-tistical analysis) at 1000 N. Ashley Drive, Tampa, Florida (10/18/77) 3/

Delayed Northwest Bancorporation, Minneapolis, Minnesota, for per-mission to organize a subsidiary trust company to be named First Northwestern Trust Co. of North Dakota, Fargo, North Dakota and assume trust activities of six subsidiary banks (10/21/77) 3/

Reactivated BankAmerica Corporation, San Francisco, California, noti-

fication of intent to engage in de novo activities (acting as agent or broker for the sale of credit-related property insurance) at 5198 South Broadway, Englewood, Colorado, through its indirect subsidiary, FinanceAmerica Corporation (a Colorado Corporation) (10/17/77) 3/

BankAmerica Corporation, San Francisco, California, noti-fication of intent to engage in de novo activities (acting as agent or broker for the sale of credit-related property insurance) at 520 North Madison Avenue, Greenwood, Indiana, through its subsidiary, F inanceAmer ica Corpora-tion (an Indiana Corporation) a subsidiary of Finance-America Corporation) (10/17/77) 3/

BankAmerica Corporation, San Francisco, California, noti-fication of intent to engage in de novo activities (acting as agent or broker for the sale of credit-related property insurance) at 311 West Street, Tupelo, Mississippi, through its subsidiaries, FinanceAmerica Corporation and FinanceAmerica Industrial Plan, Inc. (Mississippi Corpora-tions) (10/17/77) 3/

37 4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority.



BankAmerica Corporation, San Francisco, California, no-tification of intent to engage in d£ novo activities (acting as agent or broker for the sale of credit-related property insurance) at 6910G Montgomery Boulevard N.E., Albuquerque, New Mexico, through its subsidiary, Fi~ nanceAmerica Corporation (a New Mexico Corporation), a subsidiary of FinanceAmerica Corporation (10/17/77) 3/

Security Pacific Corporation, Los Angeles, California, notification of intent to engage in de novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at 10 South Lake Avenue, Pasadena, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

Security Pacific Corporation, Los Angeles, California, notification of intent to engage in die novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at 1322 East Shaw Avenue, Fresno, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

Security Pacific Corporation, Los Angeles, California, notification of intent to engage in de novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at Olympic Plaza Build-ing, 1243 Alpine Road, Walnut Creek, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

Security Pacific Corporation, Los Angeles, California, notification of intent to engage in de novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at Del Amo Financial Center, 21515 Hawthorne Blvd., Torrance, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

Security Pacific Corporation, Los Angeles, California, notification of intent to engage in de novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at 1400 North Harbor Boulevard, Fullerton, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/



H.2, 1977 No. 43 - 6 -


Security Pacific Corporation, Los Angeles, California, notification of intent to engage in de novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at Point West Executive Center, 1455 Response Road, Sacramento, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 2/

Security Pacific Corporation, Los Angeles, California, notification of intent to engage in d£ novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at the Warner Victory Center, 6355 Topanga Canyon Blvd., Woodland Hills, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

Security Pacific Corporation, Los Angeles, California, notification of intent to engage in de novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at 2025 Gateway Place, San Jose, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

Security Pacific Corporation, Los Angeles, California, notification of intent to engage in de novo activities (acting as agent or broker for the sale of credit-related property and casualty insurance) at Upland Office Center, 600 N. Mountain Avenue, Upland, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

Security Pacific Corporation, Los Angeles, California, notification of intent to engage in de novo activities (acting as agent or broker for the sale of credit-related property and casualty insurance) at 80 South Lake Avenue, Pasadena, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

Security Pacific Corporation, Los Angeles, California, notification of intent to engage in de novo activities (acting as agent or broker for the sale of credit-related property and casualty insurance) at 1730 South Amphlett, San Mateo, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

3/ 4(c)(8) and 4(c) (12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority.


H.2, 1977 No. 43 7 ~


Permitted CBT Corporation, Hartford, Connecticut, notification of

intent to engage in de novo activities (the financing of accounts receivable, inventories and imports for business customers) at 444 Brickell Avenue, Miami, Florida, through a subsidiary, Lazere Financial Corporation, New York, New York, which is a wholly-owned subsidiary of CBT Financial Corporation, Hartford, Connecticut, which is in turn a wholly-owned subsidiary of CBT Corporation (10/20/77)

First National Boston Corporation, Boston, Massachusetts, notification of intent to engage in de_ novo activities (providing bookkeeping or data processing services for the internal operations of First National Boston Cor-poration; storing and processing banking, financial or related data including performing such reports as are typically performed or prepared by or for banks such as, but not limited to, demand deposit, savings, installment loan, commercial loan, mortgage and central information accounting for The First National Bank of Boston and, indirectly, those banks which have entered or will enter into a data processing services agreement with The First National Bank of Boston) at 5 Whittier Road, Framingham, Massachusetts, through its existing subsidiary, First of Boston Computeristics, Inc., Boston, Massachusetts (10/20/77) 3/

Industrial National Corporation, Providence, Rhode Island, notification of intent to continue to engage in de novo activities (acting as an insurance agency for the sale of credit life and credit accident and health insurance sold in connection with extensions of credit) at 300 Duncan Street, Clearwater, Florida, through its wholly-owned indirect subsidiary, Mortgage Associates, Inc., Milwaukee, Wisconsin (10/19/77) 3/

Chemical New York Corporation, New York, New York, notifi-cation of intent to engage in de novo activities (the origination and sale of mortgage loans on residential, commercial and industrial real estate and the servicing of mortgage loans owned by The Galbreath Mortgage Company and owned by others) at the intersection of Highways 1-85 and 285, Atlanta, Georgia, through its subsidiary, The Galbreath Mortgage Company (10/21/77) 3j

3/



H.2, 1977 No. 43 - 8 -


Manufacturers Hanover Corporation, New York, New York, no-tification of intent to engage in de novo activities (leasing real and personal property on a full payout basis, and acting as agent, broker, or adviser in leasing of such property in accordance with the provisions of Regulations promulgated by the aforesaid Board of Governors of the Federal Reserve System; and making and acquiring, for its own account or for the account of others, loans and other extensions of credit with respect to such property and servicing such leases, loans or other ex-tensions of credit) at 3 Landmark Square, Stamford, Connecticut, through its subsidiary, Manufacturers Hanover Leasing Corporation (10/21/77) 3/

United Virginia Bankshares Incorporated, Richmond, Virginia, notification of intent to engage in de novo activities (originating loans as principal; originating loans as agent; servicing loans for nonaffiliated individuals, partnerships, and corporations; servicing loans for affiliates of United Virginia Bankshares Incorporated; the sale, as agent, of credit life, credit disability, mortgage redemption and mortgage cancellation insurance in connection with such loans and such other activities as may be incidental to the business of a mortgage cor-poration) at the Northgate Office Building, Suite 104, 5861 Rivers Avenue, North Charleston, South Carolina, through its subsidiary, United Virginia Mortgage Cor-poration (10/21/77) 3/

First Bancshares of Florida, Inc., Boca Raton, Florida, no-tification of intent to engage in d_e novo activities (leasing hospital and medical equipment, office equipment, construction equipment, and other personal property) at 3700 Broadway, Riviera Beach, Florida, through a subsid-iary, Beacon Leasing Corporation (10/22/77) 3/

BankAmerica Corporation, San Francisco, California, noti-fication of intent to engage in de_ novo activities (mak-ing or acquiring, for its own account loans and other extensions of credit such as would be made or acquired by a finance company and servicing loans and other extensions of credit, such activities will include, but not be limited to, making consumer installment loans, purchasing installment sales finance contracts, making loans and other extensions of credit to small businesses, and making

3/ 4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority.


H.2, 1977 No. 43 - 9 -


loans secured by real and personal property; acting as agent or broker for the sale of credit-related life and credit-related accident and disability insurance in con-nection with extensions of credit made or acquired by FinanceAmerica Corporation) at Palm Center, 1742 Los Angeles Avenue, Simi Valley, California, through its in-direct subsidiary, FinanceAmerica Corporation (a Cali-fornia Corporation) (10/17/77) 3/

BankAmerica Corporation, San Francisco, California, noti-fication of intent to engage in de novo activities (act-ing as agent or broker for the sale of credit-related property insurance) at 5198 South Broadway, Englewood, California, through its indirect subsidiary, Finance-America Corporation (a Colorado Corporation) (10/17/77) 3/

BankAmerica Corporation, San Francisco, California, noti-fication of intent to engage in de novo activities (act-ing as agent or broker for the sale of credit-related property insurance) at 520 North Madison Avenue, Green-wood, Indiana, through its subsidiary, FinanceAmerica Corporation (an Indiana Corporation), a subsidiary of FinanceAmerica Corporation (10/17/77) 3/

BankAmerica Corporation, San Francisco, California, noti-fication of intent to engage in de novo activities (act-ing as agent or broker for the sale of credit-related property insurance) at 311 West Street, Tupelo, Missis-sippi, through its subsidiaries, FinanceAmerica Corpora-tion and FinanceAmerica Industrial Plan, Inc. (Missis-sippi Corporations) (10/17/77) 3/

BankAmerica Corporation, San Francisco, California, noti-fication of intent to engage in de novo activities (act-ing as agent or broker for the sale of credit-related property insurance) at 6910G Montgomery Boulevard N.E., Albuquerque, New Mexico, through its subsidiary, Fi-nanceAmerica Corporation (a New Mexico Corporation), a subsidiary of FinanceAmerica Corporation (10/17/77) 3/

Security Pacific Corporation, Los Angeles, California, no-tification of intent to relocate de novo activities (mak-ing or acquiring, for its own account or the account of others, loans and other extensions of credit including secured and unsecured consumer, commercial and agricultural



H.2, 1977 No. 43 - 10 -


loans, sale contracts and other forms of receivables and such other types of loans and credit extension as are customarily made or acquired by a finance company; and acting as broker or agent for the sale of credit-related life/accident and health insurance and credit-related property and casualty insurance) from Highway 271, North Poteau, Oklahoma to 804 S. Front Street, Poteau, Oklahoma, through its subsidiary, The Bankers Investment Company d/b/a Security Pacific Finance Corp• (10/23/77) 3/

Security Pacific Corporation, Los Angeles, California, no-tification of intent to engage in de novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at 10 South Lake Avenue, Pasadena, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

Security Pacific Corporation, Los Angeles, California, no-tification of intent to engage in de_ novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at 1322 East Shaw Avenue, Fresno, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

Security Pacific Corporation, Los Angeles, California, no-tification of intent to engage in de novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at Olympic Plaza Build-ing, 1243 Alpine Road, Walnut Creek, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

Security Pacific Corporation, Los Angeles, California, no-tification of intent to engage in de. novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at Del Amo Financial Center, 21515 Hawthorne Blvd., Torrance, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

Security Pacific Corporation, Los Angeles, California, no-tification of intent to engage in de novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at 1400 North Harbor Boulevard, Fullerton, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

37 4(c) (8) and 4(c) (12) notification:, processed by Reserve Bank on behalf of the Board of Governors under delegated authority.


H.2, 1977 No. 43 - 1 1 -


Security Pacific Corporation, Los Angeles, California, no-tification of intent to engage in de novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at Point West Executive Center, 1455 Response Road, Sacramento, California, through its subsidiary, Security Pacific Finance Corp.

Security Pacific Corporation, Los Angeles, California, no-tification of intent to engage in de novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at the Warner Victory Center, 6355 Topanga Canyon Blvd., Woodland Hills, Cali-fornia, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

Security Pacific Corporation, Los Angeles, California, no-tification of intent to engage in de novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at 2025 Gateway Place, San Jose, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

Security Pacific Corporation, Los Angeles, California, no-tification of intent to engage in cle novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at Upland Office Center, 600 N. Mountain Avenue, Upland, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

Security Pacific Corporation, Los Angeles, California, no-tification of intent to engage in de novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at 80 South Lake Avenue, Pasadena, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

Security Pacific Corporation, Los Angeles, California, no-tification of intent to engage in de novo activities (acting as broker or agent for the sale of credit-related property and casualty insurance) at 1730 Amphlett, San Mateo, California, through its subsidiary, Security Pacific Finance Corp. (10/17/77) 3/

(10/17/77) 3/



H.2, 1977 No. 43 - 1 2 -


Approved United Missouri Bancshares, Inc., Kansas City, Missouri,

for approval to acquire shares of United Missouri In-surance Company, Phoenix, Arizona.

* * * * *


Permitted American Financial Corporation, Cincinnati, Ohio, and its

subsidiaries, notification of intent to purchase more than 5 per cent of the outstanding voting stock of the following companies: Centennial Corporation, Grand Rapids, Michigan; American Export Lines, Inc., New York, New York; and Performance System, Inc., Nashville, Tennessee (10/21/77) 3/

* * * * A

Certifications Issued Pursuant to the Bank Holding Company Tax Act of 1976

H. F. Ahmanson & Company, Los Angeles, California ("Ahmanson"), (1) prior certification that the sale on November 5, 1976, by Ahmanson and its subsidiary, Ahmanson Bank and Trust Company, Beverly Hills, Cali-fornia, of 400,000 shares of California Overseas Banks, Beverly Hills, California was necessary or appropriate to effectuate the policies of the Bank Holding Company Act; and (2) a final certification pursuant to section 6158(c)(2) of the Code that Ahmanson (before the expiration of the period prohibited property is permitted under the BHC Act to be held by a bank holding company) ceased to be a bank holding company. (Legal Division Docket TCR 76-101) ̂ 7

3/ 4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf oi the Board of Governors under delegated authority. Processed on behalf of the Board of Governors under delegated authority.


H.2, 1977 No. 43 - 13 -


World Airways, Inc., Oakland, California, (1) that its sale on January 16, 1974, of 1,360,950 shares of First Western Bank and Trust Company, Los Angeles, California, indirectly owned and controlled by it through its wholly-owned subsidiary, Worldamerica Investors, Corp., Oakland, California, to Lloyds First Western Corporation, Wilmington, Delaware, a subsidiary of Lloyds Bank Limited, London, England, was necessary or appropriate to effectuate the policies of the Bank Holding Company Act; and (2) final certification that World Airways, Inc. has (before the expiration of the period prohibited property is permitted under the BHC Act to be held by a bank holding company) ceased to be a bank holding company. (Legal Division Docket TCR 76-110) */

V Processed on behalf of the Board of Governors under delegated authority.


H.2, 1977 No. 43 - 14 -

APPLICATIONS RECEIVED

To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act

The Cleveland Trust Company, Cleveland, Ohio. Branch to be established at The Great Northern Shopping Center, North Olmsted.

United Citizens Bank, Winston-Salem, North Carolina. Branch to be established at Old Highway 52, Rural Hall, Forsyth County.

Lapeer County Bank & Trust Company, Lapeer, Michigan. Branch to be established on the northeast corner of the intersection of Imlay City Road (M-21) and Lake Pleasant Road, Attica Township, Lapeer County.

* * * v'c *

To Become a Member of the Federal Reserve System Pursuant to Section 9 of the Federal Reserve Act

Heritage Bank & Trust, Salt Lake City, Utah.

* * * * *

To Form a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956

Midwest Bancorp, Inc., Gardner, Illinois, for approval to acquire 88.4 per cent or more of the voting shares of Exchange Bank, Gardner, Illinois.

Beaton Bank Holding Company, Heaton, North Dakota, for approval to acquire 95.83 per cent of the voting shares of Farmers State Bank, Heaton, North Dakota.

Brighton Bancorp, Salt Lake City, Utah, for approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of Brighton Bank, Salt Lake City, Utah, a proposed new bank.


H. 2, 1977 No. 43 - 15 -

APPLICATIONS RECEIVED-Continued

To Expand a Bank Holding Company Pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956

Central National Bancshares, Inc., Des Moines, Iowa, for approval to acquire 80 per cent or more of the voting shares of Associated Bank Corporation, Mason City, Iowa.

* >> * * *


Colonial Bancdrp, Inc., Waterbury, Connecticut, notifica-tion of intent to engage in de novo activities (to advise and act as agent for its bank subsidiaries in respect to fiduciary management, marketing, operations, and to advise and act as agent for said bank subsidiaries in respect to fiduciary administration, investment research and execution of security transactions for the customers of said bank subsidiaries) at all the offices of Colonial Bancorp, Inc.1s subsidiary banks, through its newly-formed, wholly-owned subsidiary, Colonial Trust Manage-ment Corporation, Waterbury, Connecticut (10/19/77) 3/

Chemical New York Corporation, New York, New York, notifi-cation of intent to engage in de novo activities (leasing real and personal property and equipment on a non-operating full payout basis, and acting as agent, broker, and adviser with respect to such leases; financing real and personal property and equipment such as would be done by a commercial finance company; and servicing such extensions of credit) at 1650 South Delaware, San Mateo, California and 130 Tri-County Parkway, Cincinnati, Ohio, through its wholly-owned subsidiary, ChemLease, Inc. (10/20/77) 3/

Citicorp, New York, New York, notification of intent to engage in de novo activities (making loans to individuals and businesses secured by real and personal property, the proceeds of which may be for purposes other than personal, family or household usage; and sale of credit related life/accident and health insurance related to such loans;



H.2, 1977 No. 43 - 16 -


if these proposals are effected, a licensed agent will offer to sell credit related life/accident and health, or decreasing or level (in the case of single payment loans), term life insurance to cover the outstanding balances of credit transactions (singly or jointly with co-signers in the case of life coverage) in the event of death, or, to make the contractual monthly payments on credit transactions in the event of the obligator's disability to the extent permissible under applicable State insurance laws and regulations; credit related decreasing term life insurance and accident and health insurance may be reinsured by Gateway Life Insurance Company, an affiliate of Nationwide Financial Corpora-tion of Missouri; further, in regard to the sale of credit related insurance, the subsidiary will not act as a general insurance agency) at 310 E. 12th Street, Kansas City, Missouri; 1516 S. Noland Road, Independence, Missouri; and 2817 N.E. Vivion Road, Kansas City, Missouri, through its subsidiary, Nationwide Financial Services Corporation presently operating as Nationwide Financial Corporation of Missouri (10/18/77) 3/

Mellon National Corporation, Pittsburgh, Pennsylvania, noti-fication of intent to engage in de. novo activities (mak-ing or acquiring, for its own account secured and unsecured loans and other extensions of credit such as would be made by a finance company which activities include making direct consumer installment loans and purchasing consumer installment sales finance contracts; providing credit life and credit accident and health insurance in conjunction with the above lending activities, such insurance will be provided only in connection with extensions of credit by Local Loan Co. and its wholly-owned subsidiaries and will be available solely at the option of the borrower and the borrower is advised of this option in advance) at 13249 Hawthorne Boulevard, Hawthorne, California, through its wholly-owned subsid-iary, Local Loan Co., Chicago, Illinois (10/17/77) 3/

Mellon National Corporation, Pittsburgh, Pennsylvania, noti-fication of intent to engage in de novo activities (mak-ing or acquiring, for its own account secured and unsecured loans and other extensions of credit such as would be made by a finance company which activities include making

1 7 4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority.


11.2, 1977 No. 43 17


direct consumer installment loans and purchasing consumer installment sales finance contracts; providing credit life and credit accident and health insurance will be provided only in connection with extensions of credit by Local Loan Co. and its wholly-owned subsidiaries and will be available solely at the option of the borrower and the borrower is advised of this option in advance) at 16005 S. Harlem Avenue, Tinley Park Plaza, Tinley Park, Illinois, through its wholly-owned subsidiary, Local Loan Co., Chicago, Illinois (10/17/77) 3/

United Virginia Bankshares Incorporated, Richmond, Virginia, notification of intent to engage in de novo activities (making or acquiring, for its own account or for the ac-count of others, loans and other extensions of credit such as would be made by a factoring or commercial fi-nance company) at 900 East Main Street, Richmond, Virginia, through its subsidiary, United Virginia Factors Corpora-tion (10/20/77) 3/

United Virginia Bankshares Incorporated, Richmond, Virginia, notification of intent to engage in de novo activities (originating loans as principal; originating loans as agent; servicing loans for nonaffiliated individuals, partnerships and corporations; servicing loans for affiliates of United Virginia Bankshares Incorporated; the sale, as agent, of credit life, credit disability, mortgage redemption and mortgage cancellation insurance in connection with such loans and such other activities as may be incidental to the business of a mortgage cor-poration) at Executive Tower Building, Suite 1450, 3500 North Causeway Boulevard, Metairie, Louisiana, through its subsidiary, United Virginia Mortgage Corporation

Central National Bancshares, Inc., Des Moines, Iowa, for approval to acquire the shares of Leasing, Incorporated* Mason City, Iowa.

Dawson Corporation, Lexington, Nebraska, notification of intent to engage in de novo activities (operating an industrial loan and investment company pursuant to the laws of the State of Nebraska including the issuance of

(10/18/77) 3/

3/ 4(c)(8) and 4(c) (12) notifications processed by Reserve Bank on behalf of the Board of Covemors under delegated authority.


H.2, 1977 No. 43 - 1 8 -


paid up certificates of indebtedness, installment cer-tificates of indebtedness and making consumer loans, commercial loans and first and second mortgage loans on real estate; acting as insurance agent for the sale of decreasing term credit life insurance, credit accident and health insurance, level term credit life insurance on single payment demand notes) at 1220 North Adams Street, Lexington, Nebraska, through a subsidiary, First Savings Company of Lexington, Inc. (10/20/77) 3/

The Gretna Company, Gretna, Nebraska, for approval to acquire the credit related insurance business conducted on the premises of Gretna State Bank, Gretna, Nebraska.

Y & S Investment Company, Atwood, Kansas, notification of intent to engage in de novo activities (the business of leasing personal property or acting as agent, broker, or adviser in leasing such property) at 4th and State Streets, Atwood, Kansas (10/18/77) 3J

Security Pacific Corporation, Los Angeles, California, no-tification of intent to engage in de novo activities (making or acquiring, for its own account or for the account of others, loans and extensions of credit in-cluding making consumer installment personal loans, purchasing consumer installment sales finance contracts, making loans to small businesses and other extensions of credit such as would be made by a factoring company or a consumer finance company; and acting as broker or agent for the sale of credit-related life/accident and health insurance) at 23521 Paseo de Valencia, Laguna Hills, California, through its subsidiary, Security Pacific Finance Corp. (10/14/77) 3/

* * * * *


Berkshire Hathaway Inc., New Bedford, Massachusetts, noti-fication of intent to acquire all of the outstanding voting stock ot Cypress Insurance Company, South Pasadena,

17 4(c)(0) and 4(c)(12) notifications processed by Reserve Bank un behalf of the Board of Governors under delegated authority.


H.2, 1977 No. 43 - 19 -

APPLICATIONS RECEIVED-Cont inued

California, engaged in the business of writing workmen's compensation insurance, and Cypress Management Company, South Pasadena, California, engaged in the business of managing Cypress Insurance Company (10/20/77) 3/

GATEX Corporation, Chicago, Illinois, notification of intent to acquire the assets of Kern County Equipment Company, Bakersfield, California, an International Harvester agricultural and construction equipment dealership (10/14/77) 3/

* * * * *

REPORTS RECEIVED None.

* * * * *

PETITIONS FOR RULEMAKING

None.



h2_19771022.pdf

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