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                  THIS CONFORMING PAPER FORMAT DOCUMENT IS BEING SUBMITTED
PURSUANT TO RULE 901(d) OF REGULATION S-T


                                                                    Exhibit 25.3
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                                    FORM T-1

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                            STATEMENT OF ELIGIBILITY
                   UNDER THE TRUST INDENTURE ACT OF 1939 OF A
                    CORPORATION DESIGNATED TO ACT AS TRUSTEE

                      CHECK IF AN APPLICATION TO DETERMINE
                      ELIGIBILITY OF A TRUSTEE PURSUANT TO
                             SECTION 305(b)(2) [   ]



                              THE BANK OF NEW YORK
               (Exact name of trustee as specified in its charter)


New York                                                     13-5160382
(State of incorporation                                      (I.R.S. employer
if not a U.S. national bank)                                 identification no.)

48 Wall Street, New York, N.Y.                               10286
(Address of principal executive offices)                     (Zip code)





                                CHASE CAPITAL II
               (Exact name of obligor as specified in its charter)


Delaware                                                     To be applied for
(State or other jurisdiction of                              (I.R.S. employer
incorporation or organization)                               identification no.)

c/o The Chase Manhattan Corporation
270 Park Avenue
New York, New York                                           10017
(Address of principal executive offices)                     (Zip code)

                             ----------------------

                              Preferred Securities
                       (Title of the indenture securities)


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1.       GENERAL INFORMATION. FURNISH THE FOLLOWING INFORMATION AS TO THE
         TRUSTEE:

         (a)      NAME AND ADDRESS OF EACH EXAMINING OR SUPERVISING AUTHORITY TO
                  WHICH IT IS SUBJECT.

- --------------------------------------------------------------------------------
                  Name                                        Address
- --------------------------------------------------------------------------------

Superintendent of Banks of the State of           2 Rector Street, New York,
New York                                          N.Y.  10006, and Albany, N.Y. 
                                                  12203

Federal Reserve Bank of New York                  33 Liberty Plaza, New York,
                                                  N.Y.  10045

Federal Deposit Insurance Corporation             Washington, D.C.  20429

New York Clearing House Association               New York, New York  10004

         (b)      WHETHER IT IS AUTHORIZED TO EXERCISE CORPORATE TRUST POWERS.

         Yes.

2.       AFFILIATIONS WITH OBLIGOR.

         IF THE OBLIGOR IS AN AFFILIATE OF THE TRUSTEE, DESCRIBE EACH SUCH
AFFILIATION.

         None.  (See Note on page 3.)

16.      LIST OF EXHIBITS.

         EXHIBITS IDENTIFIED IN PARENTHESES BELOW, ON FILE WITH THE COMMISSION,
         ARE INCORPORATED HEREIN BY REFERENCE AS AN EXHIBIT HERETO, PURSUANT TO
         RULE 7a-29 UNDER THE TRUST INDENTURE ACT OF 1939 (THE "ACT") AND RULE
         24 OF THE COMMISSION'S RULES OF PRACTICE.

         1.       A copy of the Organization Certificate of The Bank of New York
                  (formerly Irving Trust Company) as now in effect, which
                  contains the authority to commence business and a grant of
                  powers to exercise corporate trust powers. (Exhibit 1 to
                  Amendment No. 1 to Form T-1 filed with Registration Statement
                  No. 33-6215, Exhibits 1a and 1b to Form T-1 filed with
                  Registration Statement No. 33-21672 and Exhibit 1 to Form T-1
                  filed with Registration Statement No. 33-29637.)

         4.       A copy of the existing By-laws of the Trustee. (Exhibit 4 to
                  Form T-1 filed with Registration Statement No. 33-31019.)



                                       -2-

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         6.       The consent of the Trustee required by Section 321(b) of the
                  Act. (Exhibit 6 to Form T-1 filed with Registration Statement
                  No. 33-44051.)

         7.       A copy of the latest report of condition of the Trustee
                  published pursuant to law or to the requirements of its
                  supervising or examining authority.



                                      NOTE


         Inasmuch as this Form T-1 is filed prior to the ascertainment by the
Trustee of all facts on which to base a responsive answer to Item 2, the answer
to said Item is based on incomplete information.

         Item 2 may, however, be considered as correct unless amended by an
amendment to this Form T-1.





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                                    SIGNATURE



         Pursuant to the requirements of the Act, the Trustee, The Bank of New
York, a corporation organized and existing under the laws of the State of New
York, has duly caused this statement of eligibility to be signed on its behalf
by the undersigned, thereunto duly authorized, all in The City of New York, and
State of New York, on the 20th day of November, 1996.


                                                  THE BANK OF NEW YORK          
                                            
                                            
                                            
                                                  By:     /S/MARY JANE MORRISSEY
                                                     ---------------------------
                                                      Name:  MARY JANE MORRISSEY
                                                      Title: VICE PRESIDENT



                                       -4-

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                                                                       EXHIBIT 7


                       Consolidated Report of Condition of

                              THE BANK OF NEW YORK

of 48 Wall Street, New York, N.Y. 10286 And Foreign and Domestic Subsidiaries,
a member of the Federal Reserve System, at the close of business March 31, 1996,
published in accordance with a call made by the Federal Reserve Bank of this
District pursuant to the provisions of the Federal Reserve Act.



                                                                 Dollar Amounts
ASSETS                                                             in Thousands
                                                                         
Cash and balances due from depos-
  itory institutions:
  Noninterest-bearing balances and
  currency and coin ..................                              $ 2,461,550
  Interest-bearing balances ..........                                  835,563
Securities:
  Held-to-maturity securities ........                                  802,064
  Available-for-sale securities ......                                2,051,263
Federal funds sold in domestic offices of the bank:
Federal funds sold ...................                                3,885,475
Loans and lease financing
  receivables:
  Loans and leases, net of unearned
    income ...........................                               27,820,159
  LESS: Allowance for loan and
    lease losses .....................                                  509,817
  LESS: Allocated transfer risk
    reserve...........................                                    1,000
    Loans and leases, net of unearned
    income, allowance, and reserve....                               27,309,342
Assets held in trading accounts ......                                  837,118
Premises and fixed assets (including
  capitalized leases) ................                                  614,567
Other real estate owned ..............                                   51,631
Investments in unconsolidated
  subsidiaries and associated
  companies ..........................                                  225,158
Customers' liability to this bank on
  acceptances outstanding ............                                  800,375
Intangible assets ....................                                  436,668
Other assets .........................                                1,247,908
                                                                    -----------
Total assets .........................                              $41,558,682
                                                                    ===========

LIABILITIES
Deposits:
  In domestic offices ................                              $18,851,327
  Noninterest-bearing ................                                7,102,645
  Interest-bearing ...................                               11,748,682
  In foreign offices, Edge and
  Agreement subsidiaries, and IBFs ...                               10,965,604
  Noninterest-bearing ................                                   37,855
  Interest-bearing ...................                               10,927,749
Federal funds purchased and secu-
  rities sold under agreements to re-
  purchase in domestic offices of
  the bank and of its Edge and
  Agreement subsidiaries, and in
  IBFs:
  Federal funds purchased ............                                1,224,886
  Securities sold under agreements
    to repurchase ....................                                   29,728
Demand notes issued to the U.S.
  Treasury ...........................                                  118,870
Trading liabilities ..................                                  673,944
Other borrowed money:
  With original maturity of one year
    or less ..........................                                2,713,248
  With original maturity of more than
    one year .........................                                   20,780
Bank's liability on acceptances exe-
  cuted and outstanding ..............                                  803,292
Subordinated notes and debentures ....                                1,022,860
Other liabilities ....................                                1,590,564
                                                                    -----------
Total liabilities ....................                               38,015,103
                                                                    -----------

EQUITY CAPITAL
Common stock ........................                                   942,284
Surplus .............................                                   525,666
Undivided profits and capital
  reserves ..........................                                 2,078,197
Net unrealized holding gains
  (losses) on available-for-sale
  securities ........................                                     3,197
Cumulative foreign currency transla-
  tion adjustments ..................                                   ( 5,765)
                                                                    -----------
Total equity capital ................                                 3,543,579
                                                                    -----------
Total liabilities and equity
  capital ...........................                               $41,558,682
                                                                    ===========



      I, Robert E. Keilman, Senior Vice President and Comptroller of the
above-named bank do hereby declare that this Report of Condition has been
prepared in conformance with the instructions issued by the Board of Governors
of the Federal Reserve System and is true to the best of my knowledge and
belief.

                                                               Robert E. Keilman

      We, the undersigned directors, attest to the correctness of this Report of
Condition and declare that it has been examined by us and to the best of our
knowledge and belief has been prepared in conformance with the instructions
issued by the Board of Governors of the Federal Reserve System and is true and
correct.

                        
      J. Carter Bacot )    
      Thomas A. Renyi )         Directors
      Alan R. Griffith)