SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: November 1, 1999 Commission file number 1-5805
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THE CHASE MANHATTAN CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 13-2624428
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(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification No.)
270 Park Avenue, New York, NY 10017
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(Address of principal executive offices) (Zip Code)
(Registrant's telephone number, including area code) (212) 270-6000
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Item 5. Other Events
The Chase Manhattan Corporation announced on November 1, 1999 that its trading
revenues for the fourth quarter of 1999 will be reduced by approximately $60
million ($40 million after tax) as a result of the correction of trading profits
reported in prior periods. The need for the correction was discovered in the
course of an internal review. There was no defalcation of funds, and no customer
accounts were affected. The Corporation also said it had dismissed an employee
in New York who had been involved with the matter.
A copy of the press release is attached as an exhibit hereto. That press release
may contain statements that are forward looking within the meaning of the
Private Securities Litigation Reform Act of 1955. Such statements are subject to
risks and uncertainties and Chase's actual results may differ materially from
those indicated in such forward looking statements. Reference is made to Chase's
reports filed with the Securities and Exchange Commission, in particular Chase's
Annual Report on Form 10-K for the year ended December 31, 1998, for a
discussion of factors that may cause those differences to occur.
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Exhibit Number Description
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99.1 Press Release
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE CHASE MANHATTAN CORPORATION
(Registrant)
/s/ Dina Dublon
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Dina Dublon
Executive Vice President and
Chief Financial Officer
Dated: November 1, 1999
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For Immediate Release
Investor Contact: John Borden Media Contact: James Finn
212-270-7318 212-270-7438
CHASE TO REDUCE FORTH QUARTER TRADING REVENUES
BY $60 MILLION
NEW YORK, November 1, 1999 - The Chase Manhattan Corporation announced
today that its trading revenues for the fourth quarter of 1999 will be reduced
by approximately $60 million ($40 million after tax) as a result of the
correction of trading profits reported in prior periods. The need for the
correction was discovered in the course of an internal review. There was no
defalcation of funds, and no customer accounts were affected. The Corporation
also said it had dismissed an employee in New York who had been involved with
the matter.
Chase's report pre-tax trading revenues for the first three-quarters of
1999 were approximately $2.2 billion.
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