European Stars and Stripes (Newspaper) - July 16, 1991, Darmstadt, Hesse                                Page 10 b the stars and stripes tuesday july 16, 1991chemical, manufacturers of merge they la form 2nd largest . Banking company new York apr chemical banking corp. And manufacturers Hanover corp. Announced on monday a stunning merger that will create the nations second largest banking company with assets of $135 billion. Under the agreement expected to be Curti plated by the end of the year each share of manufacturers will be exchanged for 1.14 shares of chemical common Stock according to a joint statement. The merger had been negotiated secretly for two months and. Reflected the enormous pressure on . Banking companies to strengthen themselves in the face of the worst period for the Industry since the great depression. Several other Large . Banks also have been negotiating mergers in recent weeks most notably the a cab corp. And a amps sovran two Large Southeast regional banking companies. Chemical and manufacturers two of new Yorkus oldest and Best known Banks said they planned to Lay off about 6,200 employees out of the 45,000 jobs from the merged companies. That would help contribute to a savings of $650 million in annual operating costs. Chemical is the nations sixth largest banking company with assets of $74.1 billion and manufacturers Hanover ranks ninth with $61.3 billion in assets. The largest banking company in the United states is Citicorp at nearly $217 billion. The Deal was approved by the boards of directors of both Banks sunday and signed by manufacturers chairman John f. Mcgillicuddy and chemical chairman Walter v. Shipley Early monday. The merged organization will be called chemical banking corp. And occupy manufacturers current new York Headquarters the statement said. Officials said Mcgillicuddy 60, will serve As the merged company a chairman and chief executive officer and Shipley 55, will be president and chief operating officer. Shipley is expected to succeed Mcgillicuddy As chief executive officer on Jan. 1,1994, the statement said. After the merger the new chemical banking corp. Plans to raise $1.25 billion in common Stock both companies said. Officials also said the Banks planned to take a $550 million restructuring charge to cover the expense of the merger. Ken Herz a spokesman for chemical said the Banks had been in merger talks since mid May. A a we be heard talk about a possible merger for some time. In a glad they finally decided to pull it off a a said James j. Mcdermott jr., a banking analyst with Keefe Bruyette amp Woods in new York. A both companies Are heavily connected to the new York metropolitan area a he said. A they had both been struggling individually but together they May be Able to propel themselves to better earnings. And really put the heat on  manufacturers and chemical have been Hurt in recent years by problem Loans to third world countries and More recently by the soft real estate Market. A the new chemical will be much More capable of investing to keep our business on the cutting Edge whether in professional Talent technology or new financial products a Shipley said in a statement. The merged company will have the largest Market share of Consumers Small business and midsize companies in the new York metropolitan Region with combined deposits of $56 billion. It will have 660 Domestic branches including 436 in new York 132 in new Jersey and 92 in Texas. Chemical is the Parent of Texas Commerce ban shares. Tractor blockade austrian Farmers use tractors to Block the country a Border with Czechoslovakia dramatizing their protest Over sinking Grain prices. Mondays action took place at the Border town of Hausdorf Northwest of  squad reportedly targets Rushdie Athens Greece up a an iranian exile group said monday that Iran a ruling clerics have sent a hit squad to Britain to assassinate Salman Rushdie the Indian born British author of the controversial novel the satanic verses. The Baghdad based Mujahedin Khaliq organization in a message sent to Athens said other such groups have gone to Italy France Switzerland Japan Germany Canada Nigeria and Algeria to kill iranian dissidents and foreign figures. Quoting information received from inside Iran the Mujahedin said a one assassination squad has been dispatched to Britain to execute British author Salman Rushdie and is currently in that  in february 1989, the late iranian Leader Ayatollah Ruhollah Khomeini issued a religious edict calling on muslims worldwide to kill Rushdie for writing the satanic verses which islamic fundamentalists consider blasphemous to islam. The Mujahedin a a claim which could not be immediately confirmed by Independent sources came three Days after an unidentified assailant stabbed and killed Hitoshi Igarashi 44, the japanese translator of the novel at Tsukuda University in Tokyo. In july 1990, the italian translator of the satanic verses was stabbed though not fatally in Milan Italy. The Mujahedin statement said Iran a is implementing plans to carry out a series of terrorist activities against iranian dissidents and foreign personalities. A hit squads have been sent. To implement these  the exile group said a organized in teams of a few people these death squads Are responsible for the stabbing of the italian translator and the assassination of the japanese translator of the satanic verses a some members of these squads Are iranian revolutionary guards dispatched from the Bekaan Valley in Lebanon Quot the statement said. A one of the squads objectives is to assassinate Mujahedin. And iranian resistance activists abroad particularly or. Salah Raja i. The representative of the iranian resistance in  War Veteran apparently kills wife child self Span Dahlem a Germany a amps a 35-year-old Veteran of the persian Gulf War apparently shot his wife and 19-month-old daughter then turned the gun on himself saturday at the family a Home near Span Dahlem a air Force officials said monday. Air Force staff sgt. John Towles his 34-year-old wife Enid and daughter Ashley were found by Security police Early saturday morning in their government leased quarters in Speicher approximately four Miles from the base according to capt. Mike rein a base spokesman. The aircraft technician assigned to the 52nd tac fighter Wing returned july 3 from duty in Bahrain during operations desert shield and storm. He deployed there in december. Rein said the bases Law enforcement desk received a Call saturday morning concerning the family a Well being. He would not elaborate. After receiving no response when they knocked on the residence door Security police forcibly entered the Home and discovered the three bodies. A German doctor called to the scene pronounced the three family members dead. The air Force office of special investigations is probing the Case. Army chief warrant officer wins Auto in sweepstakes Kaiserslautern Germany a amps an army chief warrant officer has won a new Candy Apple red car from a Kaiserslautern area Auto dealer in a Giveaway sweepstakes. Chief warrant officer 3 . Hegyes of the 565th Ord co in Pir Masens said he was a totally surprised by winning the 1992 Toyota pase. Hegyes said he filled out 18 entry forms for the contest. Thirty three other military members will be taking trips to the United states Courtesy of Delta air lines. The car and trips were part of a Welcome Home sweepstakes sponsored by Toyota car world in Ein sied a werhof. Belmont track Security guard charged with hitting horses Belmont . Up a a Security guard at the Belmont race track was charged with hitting three horses and throwing bleach in the face of one of them damaging his eyes police said monday. The guard Terrance Knight 18, of Queens was arrested after a Groom at the track saw him at 2 45 . Sunday lift a shovel As if to hit a horse said a spokesman for the Nassau county police