MANHATTAN NAT'L &lt;MLC> HOLDERS VOTE STOCK SALE

  Manhattan National Corp said its
  shareholders overwhelmingly approved a proprosal through which
  &lt;Union Central Life Insurance Co> took control of the company
  by acquiring about 3.6 mln shares of newly issued Manhattan
  National common stock for 43.2 mln dlrs.
      The company said the transaction gives Union Central, a
  Cincinnati-based mutual insurance company, a total of 8,804,397
  shares of Manhattan National stock, or 52.2 pct of the total
  outstanding.
      Manhattan National said about three mln dlrs of the
  invested funds will be used to repay short-term debt and two
  mln dlrs has been earmarked for other short-term needs.
      The remainder will be available for the company's insurance
  units, or for other business purposes, it said.
      Charles C. Hinkley, president and chief executive officer
  of Union Central, is expected to be named chairman, president
  and chief executive of Manhattan National, the company said.
  

