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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H. 12 (For Immediate Release) April 3> 1957 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Net repayments of $72 million in loans to sales finance companies, $35 million to commodity dealers, $24 million to manufacturers of food, liquor, and tobacco products, $23 million to manufacturers and producers of petroleum, coal, chemicals, and rubber products, and $21 million to public utilities were the principal factors in the $137 million decrease in commercial and industrial loans at weekly reporting member banks during the week ending March 27. Partially offsetting increases included $30 million in loans to manufacturers of metals and metal products and $15 million to the wholesale and retail trade. Changes in loans during the week and since year-end are shown below; the third column shows the changes during the comparable period last year: Business of Borrower Week ended Mar. 27b/ Manufacturing and mining: 24 Food, liquor, and tobacco 1 Textiles, apparel, and leather 30 Metals and metal products Petroleum, coal, chemicals, & rubber• 23 6 Other manufacturing and mining Cumulative since year-end Dec. 26, 1956 Dec. 28, 1955 to to Mar. 27, 19572/ Mar. 28, 1956 (In millions of dollars) -303 +136 +548 + 53 +111 - 190 + 138 + 826 + 204 + 214 Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business 15 35 72 21 9 ; 9 -126 -250 +135 +137 - 45 -131 + + - Classified changes - net Unclassified changes - net -141 + 4 +265 -101 +1,119 + 1 Net change in commercial and industrial loans -137 +l64 +1,120 p/ Preliminary; see footnote on attached table. 96 103 321 304 30 19 CHANGES IN COMMERCIAL AND INDUSTRIAL DDANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, MARCH 27, 1957 H. 12(a) Business 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 Phila- Cleve- Rich- Atlanta Chicago! St. Minne- Kansas Dallas San FranAll Dis- Boston New cisoo p/ | Louis apolis City York delphia land mond triots PZ (In millions of dollars) - 24.3 + 1.1 +4.0 -4.2 + 29.6 + .7 - .7 + .7 + +15.2 Commodity dealers 9.8 4.8 -2.1 -1.8 + .4 + .7 - .8 + .5 -2.9 -4.3 +2.0 - 1.1 - 1.4 + .9 -1.5 - 14.5 14.5 3.2 +2.5 +2.3 -1.4 -— - .1 + .2 +1.7 + .3 +1.2 + .1 + .2 + .1 +7.0 + 2.0 + .2 - .4 - .2 +1.5 + .3 -- - 2.9 - 7.7 - .1 + .3 +2.1 - 6.3 + 7.1 - .2 - .3 + .3 - + .7 -1.6 - 34.5 - -7 - 17.3 -1.4 -3.3 -1.9 Sales finance companies - 72.1 +3.5 - 79.0 - .5 +4.5 Public utilities (including transportation) - 21.0 + -5 - 10.7 -1.5 Construction - 8.6 - .6 - 4.8 All other types of business - - Trade; Wholesale Retail - 23.3 + 6.3 9.3 •2 + + +1.2 + .6 -- +.1 - .2 - .4 + .7 5.5 1.3 .8 + .4 + .6 .3 42.0 - 1.1 + .2 + .1 +1.5 ( + 5.1 ) + 2.4 ) + -4 + .7 +1*2 ( + .9 -2.0 - 5-5 -1.4 - .6 - 3.2 + 1.9 -1.4 -1.1 -2.3 - 2.0 +1.1 - «9 - 7*7 +13.7 -5.1 - .3 - .1 -2.2 + .5 - .4 + .3 - 2.9 + .5 -1.2 + .8 -1.7 -1.3 - .8 — .6 -2.2 + .3 +1.6 - 1.4 + .3 + 6.1 - .9 .3 - .3 + .9 +1.1 - .7 +1.9 - 4.4 — 1»9 - 7-5 Net change in classified loans l/ -140.9 +5.4 -106.7 -4.4 -4.3 -3.0 -3.3 +2.0 -10.8 + .6 +2.2 -18.6 Unclassified changes - net + 3.9 - .4 - 15.3 -1.6 +4.3 -2.0 + .3 -5.0 + .8 +1.4 +1.8 + .6 +19.0 Net change in commercial and industrial loans -137.0 +5.0 -122.0 -6.0 -5.0 -3.0 -3.0 -10.0 +2.0 +4.0 -18.0 +19.0 p/ Preliminary; final totals will appear in the F. R. Bulletin and%an Francisco District final figures appear in a release of the Reserve Bank. l/ About 210 weekly reporting member banks are reporting changes in their larger loans as to industry; these banks hold over 90 P e r cent of total *• commercial and industrial loans of all weekly reporting member banks and nearly 70 per cent of those of all commercial banks.