BANKING

Heine Securities Buys 6.1% Stake in Chase Manhattan: The Short Hills, N.J.-based investment adviser said it paid $365 million for the 11.1 million shares of Chase Manhattan Corp. In a filing with the SEC, Heine Securities Corp. said it bought the stake on behalf of its advisory clients for investment purposes. Of the common shares purchased by Heine, 10.9 million were bought between Feb. 13 and Wednesday at prices ranging from $33.788 to $37.74 a share. Heine Securities’ president is Wall Street guru Michael Price. The filing also says Chase’s management “should seriously consider taking steps to realize the inherent value in its businesses in a manner designed to maximize shareholder value.” Chase stock rose 87.5 cents to $38 a share on the New York Stock Exchange.