The page 1 news summary Friday included an item-adapted from the first sentence of a page 12 story-that standing alone gave a falsely negative impression of a developer's expectations for his Internet-based payment system.

Though Douglas Braun of Internet Payment Exchange foresees sales resistance from banks, he aims to overcome that resistance, as the story, "Developer Touts Net-Based Payment Processing System," made clear.

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Also Friday, the page 4 story "Chase to Cut or Move 2,000 Jobs from N.Y.-Area Office" misidentified the period in which the banking company eliminated 4,500 jobs and took a $510 million restructuring charge. It was the first quarter of 1998, not of this year. The error was made in editing.

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