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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) March 30, i960 CHAHGES IB COMMERCIAL AMD IKDUSTRIAL LOAMS BY IHDUSBIY Commercial and industrial loans decreased in most districts and a net of $22 million at all reporting member "banks during the week ended March 23 • The principal net decreases were $26 million in loans to public utilities, $21 million to manufacturers of food, liquor, and tobacco products, $20 million to manufacturers and producers of petroleum, coal, chemicals, and rubber products, and $17 million to commodity dealers. The larger offsetting net increases were $44 million in loans to manufacturers of metals and metal products and $20 million to the wholesale and retail trade. Changes in loans during the week and since year-end are shown "below; the third column shows the changes during the comparable period last year. Business of Borrower Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, and rubber Other manufacturing and mining Week ended Mar. 23SJ - 21 -- + 44 Cumulative since year-end Dec. 30, 1959 Dec. 31, 1958 to to Mar. 23, 1960B/ Mar. 2$, 1959 (in millions of dollars) ~ -298 +261 +746 -268 +129 +493 + 9 20 - 37 +153 - 77 + 95 Trade—wholesale and retail Commodity dealers Public utilities and transportation Construction All other types of business + 20 17 +165 + 92 -176 -210 - 12 -357 - 59 + 11 + 15 + 4 - 97 Classified changes - net Unclassified changes - net 25 + 3 +600 - 11 - i4 - 65 Net change in commercial and industrial loans - 22 +589 - 79 - - 26 3 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 LOADS OF A SAMPLE OP WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, MARCH 2% i960 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 St. Minne- Kansas San FranNew Phila- Cleve- RichAll DisChicago Atlanta Boston Louis apolis City Dallas cisco Jg/ tricts jg/ York delphia land mond (In millions of dollars) -2.4 —4 ol +1.4 4> e4 4* .4 +3.3 -3 «l -2.5 + .4 - .2 + .1 + .6 - .9 - .9 —2.4 -1.4 +1.9 -3.7 +1.6 +8.9 4* <>2 +2.8 -1.6 + .8 - .6 + .6 4- ol + 4.9 + .5 - .4 - °3 +1.4 - .1 -3-5 - .3 - .4 + .7 - .2 -2.5 +2.1 —1 »1 — .2 -21.3 - .1 -1.7 - °9 + 5 °1 -15.8 +3«8 +1.1 +44.0 -19.7 + 9.3 +5.3 + .6 - ol +21.7 —10.1 + 5.0 -1.8 - - 4.0 4- 2.4 + .1 Trade: Wholesale Retail - »9 -5.6 + 1.6 + 6.7 00 +19.9 »3 —1®3 — ef> 4*1 e© + ©8 4* ®6 —1 »0 4*1 ol 4* »6 4*108 4* 08 4* »2 ( \ 4* 7 08 4=1*% 4* «9 (~ Commodity dealers -16.7 + .4 -If .6 - .2 - — ®8 + ol 4* I06 -3«1 Public utilities (including transportation) "26 eO - .6 -11.6 + 06 - 2 »7 + o2 +1*1 — 7 06 4* o2 Construction - 3.2 + el — 2.6 + -3 - »3 .4 + 2.2 All other types of business -11.3 - 06 - W -1.2 + .9 +1.8 ,1 Net change in classified loans l/ -25.3 —4.0 —19 »1 +2.6 +7.3 -2.4 Unclassified changes - net + 3.3 —3»o — 4.9 -1.6 +1.7 Net change in ecnmereial and industrial loans -22.0 -7.0 -24.0 +1.0 +9.0 - .8 -3 ) 4* «7 ) +3-8 -3 -2.7 +1.0 +2.9 —— -1.1 -1.8 -2.7 + .1 - .9 -1.1 -lo .3 — + -3 - .8 +1.3 + .7 -1.2 — 1.6 + .4 —1«2 -5.6 + .3 - .8 +1.4 -3.8 + 7 °6 -1.4 + .2 +3.6 - .3 +3*8 -1.0 -5.0 + 6.0 -1.0 -1.0 -- 4*3*0 -2 ©0 - .3 jg/ Preliminary; final totals will appear in the F. R. Bulletin and San Franeiseto 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 about 95 per cent of total commercial and industrial loans of all weekly reporting member banks and about 75 per cent of those of all commercial banks.