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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) H. 12 September 17, 195® CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Except for a $33 million net decrease in loans to sales finance companies, all industrial classifications increased their borrowings during the week ended September 10, and the net increase in commercial and industrial loans at weekly reporting member banks was $207 million. The principal net increases were $52 million in loans to manufacturers of food, liquor, and tobacco products, $49 million to "other" types of business, $39 million to manufacturers and producers of petroleum, coal, chemicals, and rubber products, $27 million to the wholesale and retail trade, and $17 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 Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business Week ended Sept. 10E/ Cumulative since mid-year June 26, 1957 June 25, 195% to to 582/ Sept. 11 > 1957 (in millions of dollars) + 66 + 70 + 52 + 3 + 14 + 82 - 5 -492 + 39 - 23 - 10 + 13 + 38 + + + + + + 38 + 29 + 6 27 7 33 17 1 49 -397 -135 + 37 +135 +184 -134 - 56 + 13 + 46 +142 - 89 Classified changes - net Unclassified changes - net + 24 +183 -322 - 12 -129 -125 Net change in commercial and industrial loans +207 -333 -254 p/ Preliminary; see footnote on attached table. % C E ^ G E G IN COMMERCIAL AMD INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, SEPTEMBER 10, 1958 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 All Districts P/ Boston New York Phila- Cleve- Rich- Atlanta Chicago mond delphia land (In millions of dollars) St. Minne- Kansas San FranDallas cisco 2/ Louis apolis City + 1-5 1-5 +24.9 - 3.4 + 2.7 + 1.5 - -5 - .2 - .3 +1.6 + 1.4 + 2.8 + 5.6 + .2 +3.9 + -7 + 2.1 - .2 + .8 + .1 + 1.2 + .3 + 8.6 + .9 + + 1.9 + 1.1 + .3 +1.3 - -3 -- - .2 - .1 - .1 + 1.3 - 1.0 - .3 + 9.1 + 6.6 + l.l -1.3 - .5 - .5 + + .9 1.8 - 1.4 +31.0 + 3.4 + .3 +1.8 + .3 + 1.1 + 2.2 + .6 - 1.0 ( + 271 2) + .5 C. • C.\ + 1.5 (+ + 4.8 + 4.3 + 1.3 - .5 + •3 - .1 + .5 + .3 + + 2.9 1.5 + 4.8 + 2.6 +1-5 +1.6 + + .8 + 1.4 +2.9 +2.7 + 1.5 - -4.2 + 1.3 -1.1 + 3.3 + 1.2 2.6 -3.2 - .6 + .4 + 1.4 + .8 + 8.8 +1.9 - .4 + 3.6 -- +3.9 + .5 + 1.1 + 1.9 + .5 + .7 +1.6 - .8 - 1.9 + .4 + .8 - 5.0 +1.1 - .7 + .4 + 4.3 + + 51.9 + 2.8 + 14.3 + 39-2 + 6.4 - + .6 -- .6 .4 •3 + .1 - .4 L ( + .7 .6 .8) ) + .9 - 3.1 Commodity dealers + 7.0 - 1.4 + Sales finance companies - 32.7 + 5.9 -53-9 Public utilities (including transportation) + 16.5 + 1.3 + 7-7 Construction + 1.2 All other types of business + 49.1 + 2.0 +26.7 + 1.4 +1.9 +1.4 + 1.7 + 2.1 - .6 + 1.8 + .3 + 8.2 + 2.2 Net change in classified loans if +182.9 +11.7 +45.0 +13.3 -t6.o 46.1 +14.1 +29.5 +3.0 +15.6 +6.1 +20.8• +11.7 Unclassified changes - net + 24.1 + .3 +14.0 + .7 +2.0 +2.9 - .1 + 8.5 +1.0 + 3.4 + .9 + .2 - 9-7 Net change in commercial and industrial loans +207.0 +12.0 +59.0 +14.0 +8.0 +9.0 +14.0 +38.0 +4.0 +19.0 +7.0 +21.0 + 2.0 - •5 + .3 .6 + - .4 •9 .2 p7~Preliminary; final totals will appear in the F. R. Bulletin and San Francisco District final figures appear in a release of the Reserve Bank. 1j About 210 weekly reporting member banks are reporting changes in their larger loans as to industry; these oanks hold about 95 p©r cent of total commercial and industrial loans of all weekly reporting member banks and about 75 per cent of those of all commercial banks.