1968 Press Photo John W. de Milhau of Chase Manhattan Bank of New York City

The reduction of prime interest rates by Chase Manhattan Bank of New York City may be an indication of a trend toward "easier" interest rates, an official of the bank said here Wednesday. John W. de Milhau, senior vice-president in charge of the bank's municipal bond department, said the rates were reduced because the federal reserve reduced its discount rate and loans have not increased to the extent as expected.

Photo is dated 1968.

Photo measures 10 x 8.25 inches.