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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) H.12 October 5, i960 CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS BY IBPOBIBY Commercial and industrial loans decreased a net of $27 million at all reporting member banks during the week ended September 28. The principal net decreases were $17 million each in loans to manufacturers of textiles, apparel, and leather products and to manufacturers of metals and metal products, and $44 million to unclassified borrowers. The larger offsetting net increases were $20 million in loans to manufacturers of food, liquor, and tobacco products, $l6 million to commodity dealers, and $14 million to public utilities. 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 / Sept. 28^' +20 -17 -17 -10 - 1 Cumulative since mid-year June 29, i960 July 1, 1959 to / to Sept. 28, 1960^ Sept. 30, 1959 (in millions of dollars) +139 + 330 -337 - l44 + 88 - 74 + 129 + 130 + 76 + 78 + 82 Trade—wholesale and retail Commodity dealers Public utilities and transportation Construction All other types of business +14 - 5 ±_Z + 7 +119 + 58 * + 33 +ni Classified changes - net Unclassified changes - net +17 -44 +219 -323 +1,049 50 Net change in commercial and industrial loans -27 -104 + 2/ Preliminary +10 +16 + 233 + 333 - - - 121 999 H.12(a) CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND "FEDERAL RESERVE DIS2KICT, WEEK ENDED WEDNESDAY, SEPTEMBER 28, i960 All Dis- . Phila- Cleve- RichNew St. Minne- Kansas San F: tricts 2/ Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas cisco £, 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 +20.0 -17.1 +1-3 +10.7 + .2 + .8 + +2.0 - .8 + 5.4 -1.3 - .1 - 3-4 - -3 + .7 -17.2 - 9.7 - 1.2 •[+ 9-7? ) -3.1.5 .7 - 1.4 - 8.2 - 1.1 + .5 - -5 + 2.0 + 3.5 + .4 - -7 + 3.5 +2.4 + .1 + o4 —4.1 + .1 - -7 + 3.1 .8 + 2o3 + .8 +1.5 -3.1 -13.8 - 2.4 + + .4 + .2 - -3 - * 2 1.4 - 1 . 6 1.4 -1.0 + .2 • 3 - -7 + .6 - .4 -1.5 +2.0 - 1.8 - -3 + .3 1.0 + .4 + .2 - 1 • 0 - 1.0 + -5 + . 1 + .7 + 2.4 + .3 - -3 - .1 +2.5 +1.8 + 3.2 + 5.9 -1.7 —1.1 + .2 -- - -9 + 1.9 + .4 + .6 + .6 + .6 + -5 -1.2 - .1 -1.1 Commodity dealers +15.6 - .1 + 5.9 - .8 - .2 Public utilities (including transportation) +14.4 +1.0 + 2.5 +3-7 + 4.0 Construction - 4.6 All other types of business + 7.2 - .8 + 5-6 — .1 - Net change in classified loans l/ +17.1 +4.6 +14.3 +2.5 Unclassified changes - net -44.1 - .6 - 7-3 Neft change in commercial and industrial loans -27.0 +4.0 + 7.0 »<•> - -5 + 1.3 V — - Wot -1.5 <+ -2> avail- able - -7 +2.0 - 3.9 + 2.7 + .2 + .9 +1.6 - 1.1 - .2 -1.9 -12.3 +15.4 -4.1 - .8 + .7 -1.5 - 9.9 + .2 - 01 + - +2.1 -3.2 +1.3 -25.O +1.0 •11.0 -2.0 -4.0 +2.0 -25.0 .3 -2 = 0 -3 •12.0 .4 +15.0 J?/ Preliminary; final totals will appear in the F. R. Bulletin and San Francisco District figures appear in a release of 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 commercial banks. f 1 > ' 1 * » I * 1— *