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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) October 31# 195& CHANGES IN COMMERCIAL AND INDUSTRIAL LOAMS BY INDUSTRY Net decreases of $$6 million in loans to manufacturers of metals and metal products, $27 million to "other" types of business, $26 million to sales finance companies, $23 million to manufacturers of textiles, apparel, and leather products, $21 million to manufacturers and producers of petroleum, coal, chemicals, and rubber products, and $51 million to unclassified borrowers were partly offset by increases of $34 million in loans to commodity dealers, $28 million to manufacturers of food, liquor, and tobacco products, and $20 million to the wholesale and retail trade. The net decrease in commercial and industrial loans at weekly reporting member banks during the week ended October 24 was $138 million. The decrease in loans to manufacturers of textiles, apparel, and leather products was the largest weekly decrease in this business category since February of this year. The decrease in loans to manufacturers and producers of petroleum, coal, chemicals, and rubber products, followed seven consecutive weekly increases. Changes in loans during the week and since mid-year are shown below; the third column shows the changes during the comparable period last year: . Business of Borrower Week ended , Oct. 24£/ Cumulative since mid-year June 27, 195b June 29, 1955 to . to Oct. 24, 1956Oct. 26, 1955 (In millions of dollars) Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, & rubber Other manufacturing and mining + - 28 23 56 21 15 +455 + 50 + 283 -4o4 +373 +119 Trade--wholesale and retail Commodity dealers Sales finance companies Public utilties and transportation Construction All other types of business + + + - 20 34 26 2 2 27 +174 +492 -509 +151 - 33 +103 + 284 + 367 92 15 + 80 Classified changes - net Unclassified changes - net - 87 - 51 +970 -148 +1,417 1/- 112 "Net change in commercial and industrial loans -138 4822 1/+1,305 + 127 9 + 77 + 53 + 263 p/ Preliminary; see footnote on attached table. l/ Prior to 1956, unclassified changes and total net change included changes in agricultural loans. CHANGES US COMfi^CIAL AMD INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, OCTOBER 24, 1956 H.12(a) Buslness of Borrower Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products (including machinery & transportation equipment) Petroleum, coal, chemicals, and rubber Other manufacturing and mining San Fran cisco £/ Minne- Cleve- Rich mond millions + 28.2 - 1.2 +13.7 - 22.9 - 6.3 - 7.7 - -3 -2.7 +1.2 - .3 + .2 + -3 +2.2 + .6 + 1.0 - 4.3 +2.0 - .4 - • 5 - .1 .6 - .3 - .1 - .2 +10.1 • 1*0 - 56.2 - 4.2 -24.2 - 21.1 - .6 -14.4 - 14.8 - 4.3 + 2.6 - .3 - -3 -1.1 -1.9 — •1 -1.0 -2.0 - .2 - .1 + .6 + .2 + .1 - 8.6 - 3.7 - 4.4 - -3 - .5 -1.2 - 4.0 - .8 • 3 + .8 - .1 - .5 + .1 -1.9 - .3 -10.6 - •1 - 4.5 +1.0 -1.3 + .7 +1.1 .9 + 1.0 + .8 • .2 + -3 - .1 + 1.0 +1.4 -- +1.7 + 3.2 +5.7 Trade: Wholesale Retail - .3 + 1.1 + 19.8) + 2.0 +12.1 +2.7 + .8 + .9 Commodity dealers + 33.8 - 1.4 + 7-0 + .8 + .1 Sales finance companies - 26.3 - 6.0 —14.2 -2.9 - .3 +3-1 +1.4 -16.9 + .5 Public utilities (including transportation) + 1.9 + 5-0 -10.7 - .6 42.6 + .2 + .1 +1.3 +1.3 — + .6 Construction - 2.2 + .2 - 2.8 - .3 - •3 - .7 - .8 + .4 -1.0 — -1.3 -5.0 + 9.4 All other types of business - 26.9 - 1.9 -15.1 -1.4 + -3 -2.9 + .2 + 3.9 +1.1 —— -1.4 -2.1 - 7.6 - 86.7 -19.0 -52-6 -6.4 -41.4 +1.4 -94.0 -5.0 Net change in classified loans l/ Unclassified changes - net Net change in commercial and industrial loans -138.0 -19.0 - 2.1 ( - i - 4.7 +2 5 + .3 +8.1 + 8.3 - 2.2 + .8 +4.8 + 5.6 -- - - + 2.1 -10.0 p/ Preliminary; final totals will appear in the P. R. Bulletin and San Francisco District final figures appear in a release of the Reserve Bank