August 30, 1996

Nationsbank, returning to aggressive acquisition strategy after sitting out last year's flurry of big bank mergers, has agreed to buy Boatmen's Bancshares Inc for $9.2 billion in stock and cash; deal, which would be industry's third largest ever, is indication of just how competitive banking industry has become, even for successful company like Boatmen's (L)

Former Newark City Council Pres Gary S Harris is accused of sexually assaulting woman he met in nightclub (New Jersey Daily Briefing) (S)

Jonathan Caruso, 12, of Waldwick is shot and killed as he and friend are playing with pair of handguns that were stored in his parents' bedroom (New Jersey Daily Briefing) (S)

Analysts say reasons for decline of great retail merchants are many--ranging from blossoming role of computer spreadsheets in decision making to increase in off-shore apparel purchasing to decline of the family store; they say most important is consolidation of department store business, which historically provided training grounds for great merchants, a role that has all but evaporated; consequence is that there are precious few executives who can carry the torch of great founders of American merchandising--people like Adam Gimbel, Stanley Marcus and Mary Ann Magnin, whose names are over the front door; resignation of Sally Frame Kasaks, chief executive of Ann Taylor Stores, last week and lack of strong candidates to replace her discussed; photos (L)

State Attorney General's Office reaches $100,000 settlement with Woodbridge Financial Corp, Delaware company that is accused in civil suit of charging usurious interest rates on loan to lottery winner Dina DeStefano (New Jersey Daily Briefing) (S)