Chase bank fires nine, reports 2nd-quarter loss

By Compiled From Wire Service Dispatches With Analysis From Monitor Correspondents Around The World; Edited By Anne Shutt

July 22, 1982

New York

Chase Manhattan Corporation fired nine bank officials, including two top executives, over its involvement with the default of Drysdale Government Securities and the failure of an Oklahoma City bank - dealings blamed for a $16. 1 million loss in quarterly profits.

Before confirming the firings, Chase announced a second-quarter loss of $16.1 million, compared with a profit of $100.6 million last year.