How can the "Other Bookmarks" folder be removed from the Bookmarks Bar in Google Chrome version 11.0.696.57?

Also, when I click onto the Bookmarks drop-down menu, all of the individual entries in the Bookmarks bar appear at the top. I would like all of these entries to be contained within their own folder. When I click onto the Bookmarks
Bar, all of these web page entries are, in fact, in their own folder, but they don't appear as a single folder when the Bookmarks drop-down menu is selected.

Thanks for any tips on how to modify these Google Chrome bookmark situations.