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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) December 23, 1959 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Commercial and industrial loans increased in most districts and a total of $389 million at all reporting member banks during the week ended December lb, which reflected quarterly tax date needs. The principal net increases were $168 million in loans to manufacturers of food, liquor, and tobacco products, $84 million to manufacturers of metals and metal products, $60 million to commodity dealers, $28 million to manufacturers of textiles, apparel, and leather products, and $70 million to unclassified borrowers. Partially offsetting net decreases were $21 million in loans to public utilities and $17 million to the wholesale and retail trade. 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 Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, and rubber Other manufacturing and mining Week ended / Dec. ±&' Cumulative since mid-year July 1, 1959 July 2, 1950 to / to Dec. 16, 1 9 5 # Dec. 17, 1958 (in millions of dollars) +168 + 28 + 84 + - 700 44 172 + 661 - 199 - 372 - 11 + + 184 32 - Trade—wholesale and retail Commodity dealers Public utilities and transportation Construction All other types of business - 17 + 60 - 21 + + + + 15 + 4 415 669 360 2 94 + 349 + 401 + 200 + 45 + 304 Classified changes - net Unclassified changes - net +319 + 70 +2,046 - 105 +1,261 - 258 Net change in commercial and industrial loans +389 +1,941 +1,003 + 9 20 106 2/ Preliminary. Note: Cumulative figures in the last column are not strictly comparable with current figures because of revised loan classification beginning with week ended July 8, 1959. CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, DECEMBER l6, 1959 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 Trade: Wholesale Retail San FranSt. Minne- Kansas New Phila- Cleve- RichAll DisDallas Chicago Atlanta Boston cisco P/ Louis apolis City York delphia land mond tricts P/ (in millions of dollars) +4.6 - .1 +5.9 - .8 + 3.1 + 1.4 + 1*7 + 37*0 + 4.0 + .4 +1.8 .2 + 4.8 - .4 + *3 + 1.1 - +4.8 + 47*4 - .6 - 5.4 -l.l + 3-1 -5*7 - *7 +3.5 -1.0 - .9 + *3 + .2 + 2.4 + + + l6.8^ +2.0 + 10.2 - 2 . 9 - 36.8 + .6 - .9 +1.8 -3.8 + .4 - 4.5 ) — 1.4 — .5 — .8 + • 6 — .5 ( -3*1 ) + .4 + 31 *8 - 3*5 -— -5*9 ( +168.1 + 28.2 -l.l +111.6 +4.2 + 18.1 + 84.1 - ll.l + 9*1 ( .8 + 21.7 + .2 - 1.6 .8 + 5*8 - •3 +3*1 - *3 .1 +1.7 - *3 - .4 .6 — - .9 - .2 +2.5 +1*5 + *7 •Commodity dealers + 59-9 +3 .6 + 4l .0 - .6 + .5 + 2.5 + 1.0 + 3 *0 + 6.3 + .7 -1*5 +3.4 Public utilities (including transportation) - 21.3 -2.1 - 37-7 + .1 - .4 - 1.0 - .9 + 17.2 - 1.5 +1*6 +2.7 + *7 Construction + 14.9 -1.3 +1-4 +1.7 + 1.3 + 2.3 + 1.6 + + .2 + .1 +3*0 All other types of business + -3-7 + 3-0 + .1 +1.5 + 1.6 + 2.6 + 1.4 + .2 + .6 -2.4 -1.2 3.7 + 4.3 .3 Net change in classified loans l/ +318.8 +1.8 +158.8 -1.2 +8.0 + 7*7 + 8.6 +117.2 Unclassified changes - net + 70.2 -1.8 + 3.2 + .2 — + 3.3 + 1.4 + 4.8 + 2.6 Net change in commercial and industrial loans +389.0 +162.0 -1.0 +8.0 +11.0 +10.0 +122.0 + 9.h +8.5 +12.0 Not avail- able -6.4 +6.4 -1.5 -1*6 - .4 +60.0 +7*0 -8.0 +6.0 +60.0 p/ Preliminary; final totals will appear in the F. R. Bulletin and San Francisco District figures appear in a release of the Reserve l/ About 210 weekly reporting member banks are reporting changes in their larger loans as to industry; these banks hold aoout 9."5 per cent of total commercial and industrial loans of all weekly reporting member banks and about 75 psr cent of those of all commercial banks.