Jonas Retires As Manufacturers Trust Head

Nathan S. Jonas, president of the Manufacturers Trust Company since the bank’s organization in 1905. retied from that post and assumed the newly created office of chairman of the board. He will be succeeded by Henry C. Von Elm.

The Financial and Industrial Securities Corporation, headed by Ralph Jonas, brother of Nathan Jonas, controls the Manufacturers Trust Company, it is understood. With the merger of the Financial and Industrial Corporation and the Goldman Sachs Trading Corporation early this year, the holdings of the Manufacturers Trust Company stock passed over to the Goldman Sachs Corporation.

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