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EOABD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) September 25, 1957 CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS BY INDUSTRY Most industrial classifications were represented in the net increase of $320 million in commercial and industrial loans at weekly reporting member banks during the week ended September 18, which included quarterly tax date borrowing. The principal net increases were $128 million in loans to sales finance companies, $70 million to manufacturers of metals and metal products, $55 million to manufacturers of food, liquor, and tobacco products, and $25 million to the wholesale and retail trade. There was a net decrease of $21 million in loans 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 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 --whole sale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business Classified changes - net Unclassified changes - net Net change in commercial and industrial loans __ Cumulative since mid-year Week June 2E, 1957 " June" 27, 195& ended , to . to Sept. 18£' Sept. 1 8 , 1957-' Sept. 19, 195& ~ (In millions of dollarsj + 55 - 21 + 70 + 15 + 6 + 25 +144 +104 -238 +325 + 27 + 44 +161 + 54 + 51 5 +128 +178 - 6 + 4 + 9 + 10 - 52 + 22 + 56 - +307 - 94 + 42 - 10 +151 +297 +168 + 23 -101 +941 -110 +320 + 67 +831 p/ Preliminary; see footnote on attached table. +121 + 50 -327 H.12(a) CHANGES IN C01/MERC1AL AND INDUSTRIAL LOANS OF A SAKPLE OF WEEKLY REPORTING KEliBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, SEPTEMBER 18, 1957 Business of Borrower Trade: Wholesale Retail New York St. Phila- Cleve- Richmond Atlanta Chicago Louis delphia land (In millions of dollars) + 54.9 - 20.6 + 1.1 - .8 + 17.1 - 14.4 + 4.3 + 1.4 - .6 + 2.1 + -5 + 69.9 + 14.7 + 6.1 + 5.8 + 42.6 + 13-7 + 11.9 + 2.6 + 1.1 + 1.2 +10.2 - + 1.4 - .3 + 4.9 + + 7-3 3.1 + + - -5 - 1.2 - 1.5 + 1.3 + + .4 - .5 (+ 24.9) .1 .2 .1 .2 .4 .1 + .7 -1.6 — - 1.3 +2.2 - .4 +14.5 + 2.3 - 2.9 +1.4 - .1 + .4 - .5 - .9 •3 + 9.0 - 1.0 + 3.6 - 4.2 - 2.2 - .4 - .1 +2.5 - .3 + .4 + -5 + .2 + 4.4 + .9 + 5-0 - 2.3 + 1.1 - 5.5 - .8 - .1 +3-3 - 2.1 + 5.0 + + .1 .2 + .1 + .4 - .7 +1.8 + 1.0 + .8 + .1 - 5.0 - .1 - .6 - l.l - .4 - - — — ( (" J *2) + 2.6 + .6 Commodity dealers - Sales finance companies +128.2 + 7.9 + 50.2 +14.2 +10.9 + 1.9 +2.0 +20.0 - 1.0 +2.9 +2.9 + 7.5 + 5-2 - - San FranMinne- Kansas apolis City Dallas cisco p/ CO CO 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 All Districts P/ Boston Public utilities (including transportation) + 4.2 - 1.0 - 21.7 .6 + 9.9 + 1.8 +1.8 + 7-9 - 1.3 - .9 + .3 + + 7.3 Construction + 9.4 + 2.8 - «2 .8 + + .6 + .4 + 2.8 - 1.1 + .6 + .1 + 2.3 - .4 All other types of business + 10.4 - 1.1 + 6.5 - 3.1 + 1-7 + 1.2 - .8 + +1.0 + .2 + 3.6 + .9 Net change in classified loans 1/ +296.9 +20.8 +116.5 +21.0 +30.7 + 8.8 48.3 +42.4 -12.1 +7.7 +4.5 +17.1 +31.2 Unclassified changes - net + 23.1 - 2.8 - - 2.0 - 2.7 + 1.2 - .3 + + .1 -2.7 + -5 - .1 +35-8 Net change in commercial and industrial loans +320.0 +18.0 +112.c1 +19-0 +28.0 +10.0 +8.0 +43.0 -12.0 +5.0 +5.0 +17.0 +67.0 4.5 + .7 .3 .6 — — -7 p/ Preliminary;final totals will appear in the F. R. Bulletin and San Francisco 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 over 90 per cent of total commercial and industrial loans of all weekly reporting member banks and nearly 70 per cent of those of all commercial banks.