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FEDERAL ******* Of 60k statistical RESERVE release For Immediate release November 8, 1961 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY H.12 Commercial and industrial loans increased in most districts and a net of $175 million at weekly reporting member tanks during the week ended November 1. The principal net Increases were $58 million in loans to manufacturers of food, liquor, and tobacco products, $39 million to the retail trade, $29 million to commodity dealers, $24 million to manufacturers of transportation equipment, $15 million to transportation, communication, and other public utility companies, and $46 million to "all other" types of business concerns. The larger offsetting net decreases were $36 mill ion in loans to manufacturers of machinery and $19 million to manufacturers of textiles, apparel, and leather products. 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 Cumulative since mid-year June 29, I960 Week June 28, 1961 ended . to . to Nov. 12/ Nov%__lj_lg6lE/ Nov. 2, I960 (In millions of dollars) Durable goods manufacturing: . Primary metals Machinery Transportation equipment Other fabricated metal products Other durable goods Nondurable goods manufacturing: Food, liquor, and tobacco Textiles, apparel, and leather Petroleum refining Chemicals and rubber Other nondurable goods 36) 1/-424 1/-604 12 1/- 72 l/ n.a. + 58 - 19 +356 24) 3) + 2) ; i> Mining, including crude petroleum and natural gas Trade: Commodity dealers Other wholesale Retail Transportation, communication, and other public utilities Construction All other types of business, mainly services +4l6 -138 - 82 1/- 54 1/-155 y- y 36 n.a. , i/+ 6 1/+201 + 29 +10 •+ 39 +239 +170) +115) +335 +198 +15 + 4 + 86 + 59 - 59 + 9 + 46 +202 +197 Net change in classified loans Unclassified changes - net +166 + 9 Net change in commercial and industrial loans +175 +361 r/-351 +283 £/+ 10 1/ Because of reclassifications as of September 27# 196l, many categories are not strictly comparable with prior data; cumulative changes shown for other durable and other nondurable are f l m September 20, 1961. 2/ includes decrease of $135 million resulting frcm reported •^classifications disclosed incident to the revisions as of September 27, 1961 • p/ Preliminary, n.a. - Not available. xj Revised to eliminate adjustments in0 series since July 8, 1959# nonreporting banks with reporting banks. for mergers of r 1 In addition to the weekly table, a monthly table appears below showing changes during October 1961 compared with the preceding month and with October i960, and also showing changes during the past twelve months. Loans to manufacturers of textiles, apparel, and leather products showed the largest monthly decrease since the series was started in 1951* Although most changes during October were in the same direction as in September, the total net increase in commercial and industrial loans was small compared with the preceding month when there were the usual large borrowings to pay quarterly income taxes. The current net increase, however, was in contrast to a decrease during October i960. Business of Borrower 12 months 4 weeks 4 weeks 4 weeks ended ended ended ended Oct.25, 1961 Sept.27,1961 Oct.26, I960 Oct, 25,1961 (In millions of dollars) Durable goods manufacturing: Primary metals Machinery Transportation equipment Other fabricated metal products Other durable goods + - Nondurable goods manufacturing: Food, liquor, and tobacco Textiles,.apparel, and leather Petroleum refining Chemicals and rubber Other nondurable goods +141.8 -167.2 + 35.5) - 28.4) - 28.3 Mining, including crude petroleum and natural gas +169.5 1/-260.7 1/-566.1 1/ n.a. 1/ n.a. 1/- 50.9 +157-7 - 29.0 +212.1 -160.2 + 25.3 - 89.8 l/+ 42.0 1/+ 25.7 1/+ 43.8 l/ n.a. 1/ n.a. 1/- 28.3 1/+ 2.7 l/- 41.0 1/+352.7 it ON ON H O O 1/+ 23.7 - 36.2 +175-2 + + 6.9) 76.5) 15-8) 30.9) 50.9 + 91-1 +125.2 + 94.7 (-170.1 (+ 77-1 + 23.7 + 11.4 +192.9 + 17.4 -198.7 - 63.7 +108.4 + 26.5 - 1.7 + 60.4 +712.1 Net change in classified loansl/ +236.4 +460.6 - 62.0 +445.2 Unclassified changes - net -164.4 - 71.6 r/- 51.0 r/-199-2 Net change in commercial and industrial loans + 72.0 +389.0 r/-113.0 r/+246.0 Trade: Commodity dealers Other wholesale Retail Transportation, communication, and other public utilities Construction All other types of business, mainly services 1/ see footnote on following table regarding current coverage and footnotes on front page regarding comparability with prior figures. d-12(a) CHANGES IB COMMERCIAL AND INDUSTRIAL LOANS CP A SA2-ZFLE OF iSSKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, wEEK ENDED WEDNESDAY, NOVEMBER 1, 1961 All DisNew Phila- Cleve- RichSt. Minne- Kansas San FranBusiness of Borrower tricts 2/ Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas cisco e/ (In millions of dollars} Durable goods manufacturing: Primary metals •- - 2.0 + .2 - .4 + .6 + .7 •3 -1.3 + .1 + •9 + 1.5 Machinery—10.6 - 2.4 + .1 + .2 - •9 + 1.9 35-7 - •3 -21.3 - .3 -1.6 - .5 Transportation equipment — •» 23.7 + .4 +13.2 + .6 -1.2 + .4 + 1.5 +10.1 - .2 .1 1.0 Other fabricated metal products 2-5 - •9 + 3-9 +1.4 - .9 -1.4 + -5 - .6 - -3 - .2 • + .6 + 1.6 - 1.2 Other durable goods + .1 + .2 + .1 - 5-9 - .4 +1.2 11-5 - .2 - 4.4 -+ •5 - •7 - 2.0 — — — — • Nondurable goods manufacturing: Food, liquor, and tobacco Textiles, apparel, and leather Petroleum refining Chemicals and rubber Other nondurable goods + + + Mining, including crude petroleum and natural gas + 7.3 + Trade: Commodity dealers Other wholesale Retail 58.3 19.3 1.7 4.1 -9 + 29.O + 9.8 + 38.6 - 2.0 +38.6 + .9 -12.9 + 3*8 + .2 - 2.0 - 1.1 — 2.6 .8 + 7.8 + l.o + 5*3 - 2-5 + 1.8 + .4 -3-4 +1.1 - -5 +2.4 -1-5 + .6 + .9 + .6 + .2 -2.3 +2.2 •2 +2.3 + .2 + .1 - .4 - "7 - *2 + "3 + 1.2 + + - .1 .1 .8 + 3-4 - 1.7 - 1-9 + 4.0 - .7 + -3 + 1.0 -5 - 3.2 + 6.5 — .2 •5 - 1.1 +3.2 +1.0 .4 .1 +10.7 .1 - 1.8 + 1-5 + 3 *6 - - .1 +3-2 - .4 - .4 + .2 - *1 — 1.8 + + + + + 7 *6 .2 -3 1.1 1.6 - .2 - .1 — 1.6 + -7 - - 1.0 *2 - .2 - .2 - .1 —1.8 + .6 + 1-3 - 1-3 - .2 - -3 +1-5 +3.3 + .9 + .9 + 6.1 + 1.9 + .2 + 5.1 - 1.2 +26.7 +1.8 - •! - <9 Transportation, communication, and other public utilities + 15.1 +10.8 +19.2 -4.2 - .9 -2.1 - .7 - 8.2 .4 - .1 - .4 - .2 + 1.5 Construction + 4.3 - 1.3 + 6.6 + .2 + .1 - *3 + 2.3 - 1-3 .6 - .5 -3*0 - 2.8 + 3*7 All other types of business, mainly services + 45.8 .1 +13.0 - .1 - .1 +1.8 + 7.5 +5.8 + 2.1 - .2 Net change in classified loansl/ +166.4 +7-2 +94.7 +2.1 -5.2 +3.5 +10.2 - 4.8 +14.9 +2.4 + .7 +15.6 +25.1 Unclassified changes - net + -2.1 -2.8 -1.5 +6.8 - 9.2 +1.1 -3.4 +1.3 + .4 +12.9 Net change in commercial and industrial loans H75-0 +10.0 +97.0 -8.0 +2.0 +17.0 -14.0 +16.0 -1.0 +2.0 +16.O +38.0 8.6 + 1.5 + 2.8 + 2.3 - .4 + 4.9 2/ Preliminary; final totals will appear in the P. R. Bulletin and San Francisco District final figures appear in areleaseof the Reserve Bank 1/ About 200 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 70 per cent of those of all conaaercial banks.