Chase Manhattan

(CMB)

posted third-quarter earnings Wednesday that fell far short of Wall Street's expectations, as the tumbling

Nasdaq

pressured results at its venture-capital arm.

Merger partner

J.P. Morgan

(JPM) - Get Report

, meanwhile, beat estimates handily.

Chase Manhattan reported third-quarter earnings of 68 cents a share, significantly less than last year's 92 cents a share, and well off the

First Call/Thomson Financial

estimate of 93 cents a share. The company cited lower income in

Chase Capital Partners

as a major reason for the slump.

J.P. Morgan reported third-quarter earnings of $2.77 a share, better than the $2.63 analyst estimate and 25% better than last year's $2.22 a share.