Maryland OKd Chase’s plan to buy three S&Ls;.

Chase Manhattan Corp.’s plan to buy into the Maryland banking market by purchasing three ailing thrifts was approved by the General Assembly and the Senate after six grueling days of negotiations and an impassioned plea from Gov. Harry Hughes. The deal will free up about $500 million in frozen deposits and relieve the state of millions of dollars in potential losses that it would have faced if it had been forced to liquidate the savings and loan associations. Bowing to the Assembly and the governor, the Senate agreed to go along with Chase’s request for $25 million from a state insurance fund to cover some of the thrifts’ projected losses.