The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL fill! RESERVE statistical release For immediate release November 28, 1973 H.4.2 WEEKLY CONDITION REPORT OF LARGE COMMERCIAL BANKS AND DOMESTIC SUBSIDIARIES Total loans and investments (adjusted) at large commercial banks decreased $109 million in the week ended November 21. This reflected a decrease of $503 million in loans (adjusted), an increase of $311 million in U.S. Treasury security holdings and an increase of $83 million in holdings of "other11 securities. Demand deposits adjusted decreased $147 million while U.S. Government demand deposits increased $895 million. Total time and savings deposits increased $118 million. Gross liabilities of banks to their foreign branches increased $590 million. Commercial and industrial loans increased a net of $261 million; during the comparable week a year ago these loans increased $5 million. Loans to brokers and dealers for purchasing or carrying U.S. Treasury securities increased $15 million, and their loans for purchasing or carrying "other11 securities decreased $167 million. Sales of Federal funds and purchase of securities under agreements to resell with brokers and dealers involving U.S. Treasury securities decreased $285 million and those involving "other" securities increased $34 million. Loans to sales and personal finance institutions decreased $359 million as compared with a decrease of $200 million during the corresponding week in 1972. Real estate loans increased $122 million, and consumer instalment loans increased $56 million. Total U.S. Treasury securities held increased $311 million. Holdings of Treasury bills decreased $507 million and holdings of "other" U.S. Treasury securities maturing within 1 year decreased $162 million. Longer term Treasury note and bond holdings increased $980 million. Savings deposits declined by $16 million (the previous week's figure was revised to a $5 million increase). All other consumer-type time deposits (i.e. other time IPC less large negotiable CD's IPC) decreased by $185 million (the previous week's figure was revised to a $100 million increase). H. 4 . WEEKLY CONDITION REPORT OF LARGE COMMERCIAL BANKS 2 CHANGE SINCE Nov. 14, * 1973 Nov. 21,** 1973 Nov. 22, 1972 ( I N M I L L I O N S OF• DOLLARS) A S S E T S TOTAL LOANS AND INVESTMENTS, (GROSS) FEDERAL FUNDS SOLD AND S E C U R I T I E S PURCHASED UNDER AGREEMENTS TO RESELL — T O T A L COMMERCIAL BANKS BROKERS AND DEALERS INVOLVING U . S . TREASURY S E C U R I T I E S INVOLVING OTHER S E C U R I T I E S OTHERS OTHER LOANS—TOTAL COMMERCIAL AND INDUSTRIAL LOANS AGRICULTURAL LOANS LOANS TO BROKERS AND DEALERS FOR PURCHASING OR C A R R Y I N G — U . S . TREASURY S E C U R I T I E S OTHER S E C U R I T I E S OTHER LOANS FOR PURCHASING OR CARRYING— U.S.TREASURY S E C U R I T I E S OTHER S E C U R I T I E S LOANS TO NONBANK F I N A N C I A L I N S T I T U T I O N S SALES F I N A N C E , PERSONAL F I N A N C E , E T C . OTHER REAL ESTATE LOANS LOANS TO DOMESTIC COMMERCIAL BANKS LOANS TO FOREIGN COMMERCIAL BANKS CONSUMER INSTALMENT LOANS LOANS TO FOR. G O V T S . , O F F I C I A L I N S T S . , ETC. OTHER LOANS U . S . TREASURY S E C U R I T I E S — T O T A L TREASURY B I L L S TREASURY C E R T I F I C A T E S OF INDEBTEDNESS TREASURY NOTES AND U . S . BONDS MATURING— W I T H I N 1 YEAR 1 YEAR TO 5 YEARS AFTER 5 YEARS OTHER S E C U R I T I E S — T O T A L O B L I G A T I O N S OF STATES AND P O L I T I C A L S U B D I V I S I O N S TAX WARRANTS AND SHORT-TERM NOTES AND B I L L S ALL OTHER OTHER BONDS, CORPORATE STOCKS, AND SECURITIES P A R T I C I P A T I O N C E R T I F I C A T E S I N FED. AGENCY LOANS ALL OTHER ( I N C L U D I N G CORPORATE STOCKS) CASH ITEMS I N PROCESS OF COLLECTION RESERVES WITH FEDERAL RESERVE BANKS CURRENCY AND COIN BALANCES WITH DOMESTIC BANKS INVESTMENTS I N S U B S I D I A R I E S NOT CONSOLIDATED OTHER ASSETS TOTAL A S S E T S / L I A B I L I T I E S 358,583 - 1,567. +47,404 13,848 12,445 - 1,942 - 1,718 + 1,994 + 1,728 921 271 211 261,640 107,350 3,393 + + 285 34 27 19 261 9 + - 628 5,641 + - 15 167 375 - 1,944 + 133 2,863 2 11 458 107 . 85 +44,159. +18,941 + 659 + 60 38 1,590 5,329 8,812 1,862 1,422 5,074 280 2,531 2,162 488 8,091 16,937 54,330 3,786 4,382 32,441 1,408 20,257 24,440. 4,607 + + + 359 157 122 260 113 56 + + - 85 311 507 + + + + + + + + + 4,267 12,163 3,403 58,655 + + + 162 298 682 83 24 - 3,073 + 447 + 3,413 7,182 38,955 + 166 289 - 1,646 + 1,296 2,193 10,325 31,525 23,482 4,030 10,267 1,396 20,093 449,376: 37 3 - 4,534 - 2,508 329 - 2,150 + 36 + 210 -10,842 + 490 + 3,273 + 2,785 + 4,373 + 305 + 1,411 + 323 + 3,398 +59,999 153,,220 111,,743 6,,423 2,,389 21,,174 630 950 3,,849 6,,062 186,,456 6, 380 1,,140 13 895 2,,594 55 + 62 162 - 3,,399 + 118 • + 5,533+ 3,771 108 - 1,436 + 2,121 69 + 177 + 754 + 323 +27,954 L I A B I L I T I E S DEMAND D E P O S I T S — T O T A L I N D I V I D U A L S , PARTNERSHIPS, AND CORPORATIONS STATES AND P O L I T I C A L S U B D I V I S I O N S U . S . GOVERNMENT DOMESTIC INTERBANK — COMMERCIAL MUTUAL SAVINGS F O R E I G N — G O V T S . , O F F I C I A L I N S T I T U T I O N S , ETC. COMMERCIAL BANKS C E R T I F I E D AND OFFICERS CHECKS TIME AND SAVINGS D E P O S I T S - - T O T A L ( 1 ) I N D I V I D U A L S , PARTNERSHIPS, AND C O R P O R A T I O N S SAVINGS DEPOSITS OTHER TIME DEPOSITS STATES AND P O L I T I C A L S U B D I V I S I O N S DOMESTIC INTERBANK F O R E I G N — G O V T S . » O F F I C I A L I N S T I T U T I O N S , ETC. FEDERAL FUNDS PURCHASED AND S E C U R I T I E S SOLD UNDER AGREEMENTS TO REPURCHASE BORROWINGS—FROM FEDERAL RESERVE BANKS FROM OTHERS OTHER L I A B I L I T I E S AND MINORITY INTEREST I N CONSOLIDATED S U B S I D I A R I E S RESERVES FOR LOANS RESERVES FOR S E C U R I T I E S TOTAL C A P I T A L ACCOUNTS - - + + 16 143 99 38 27 - 2,001 +20,944 + 3,778 + 2,920 + 2,436 48,,266 970 5,,716 3 ,410 2,,729 + 71 +15,522 + 852 + 3,690 18 ,773 4;,607 65 31:,303 + 1,,550 6 56,,246 93 ,766 21 ,787 5 :,832 8 :,305 + + + - - 56 + 3,806 + 409 5 + 2,238 - 503 109 147 +42,563 +43,814 + 2,063 + + + + 347 328 19 590 +20,522+13,960 6,562 + 952 M E M O R A N D A TOTAL LOANS, GROSS ADJUSTED ( 2 ) TOTAL LOANS AND INVESTMENTS, GROSS ADJUSTED ( 2 ) DEMAND DEPOSITS ADJUSTED ( 3 ) NEGOTIABLE T I M E C E R T I F I C A T E S OF DEPOSIT ISSUED I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE INCLUDED I N TIME AND SAVINGS DEPOSITS — T O T A L TO I N D I V I D U A L S , PARTNERSHIPS, CORPS. TO OTHERS GROSS L I A B I L I T I E S OF BANKS TO THEIR FOREIGN BRANCHES 259,257 342,352 98,132 64,223 42,360 21,863 2,416 ( 1 ) THE PR ELI M I N AR Y REPORTED FIGURE ON THE OUTSTANDING AMOUNT OF LOANS SOLD OUTRIGHT ( I . E . , EXCLUDING REPURCHASE AGREEMENTS) , TO BANKS OWN S U B S I D I A R I E S , FOREIGN BRANCHES, HOLDING COMPANIES, AND OTHER A F F I L A T E S WAS $ 4,336 M I L L I O N , OF WHICH $ 2,656 M I L L I O N WERE COMMERCIAL AND I N D U S T R I A L L O A N S — THE REPORTED OUTSTANDING AMOUNT OF LOANS SOLD OUTRIGHT TO ALL OTHERS EXCEPT BANKS WAS $ 1,785 M I L L I O N , OF WHICH $ 332 M I L L I O N WERE COMMERCIAL AND INDUSTRIAL LOANS. ( 2 ) INCLUDES TIME DEPOSITS OF U . S . GOVT. AND FOREIGN COMMERCIAL BANKS NOT SHOWN SEPARATELY. ( 3 ) EXCLUSIVE OF LOANS AND FEDERAL FUND TRANSACTIONS WITH DOMESTIC COMMERCIAL BANKS. ( 4 ) ALL DEMAND DEPOSITS EXCEPT U . S . GOVT. AND DOMESTIC COMMERCIAL BANKS, LESS CASH ITEMS I N PROCESS OF COLLECTION. * * ' PRELIMINARY (SAN FRANCISCO AND ST. LOUIS DISTRICTS). * REVISED. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H.4.2(A) WEEKLY CONDITION REPORT OF LARGE COMMERCIAL BANKS# BY D I S T R I C T . NOV. 21' 1973 BOSTON FED ERAL RESERVE DISTR ICT RICH NEW PHILACLEVEYORK HOND LAND DELPHIA ( I N MILLIONS IOF DOLLARS) ATLANTA % J ASSETS TOTAL LOANS AND INVESTMENTS. (GROSS) FEDERAL FUNDS SOLD AND SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL—TOTAL COMMERCIAL BANKS BROKERS AND DEALERS INVOLVING U . S . TREASURY SECURITIES INVOLVING OTHER SECURITIES OTHERS OTHER LOANS—TOTAL ( 1 ) COMMERCIAL AND INDUSTRIAL LOANS ( 1 ) AGRICULTURAL LOANS LOANS TO BROKERS AND DEALERS FOR PURCHASING OR CARRYING—U. S . TREASURY SECURITIES OTHER SECURITIES OTHER LOANS FOR PURCHASING OR CARRYING— U . S . TREASURY SECURITIES OTHER SECURITIES LOANS TO NON-BANK F I N A N C I A L INSTITUTIONS SALES FINANCE. PERSONAL FINANCE. ETC. OTHER REAL ESTATES LOANS LOANS TO DOMESTIC COMMERCIAL BANKS LOANS TO FOREIGN COMMERCIAL BANKS CONSUMER INSTALMENT LOANS LOANS TO FOR. GOVTS., O F F I C I A L I N S T S . . ETC. OTHER LOANS U . S . TREASURY SECURITIES—TOTAL TREASURY B I L L S TREASURY CERTIFICATES OF INDEBTEDNESS TREASURY NOTES AND U . S . BONDS MATURING— WITHIN 1 YEAR 1 YEAR TO 5 YEARS AFTER 5 YEARS OTHER SECURITIES—TOTAL OBLIGATIONS OF STATES AND P O L I T I C A L S U B D I V I S I O N S TAX WARRANTS AND SHORT-TERM NOTES AND B I L L S ALL OTHER OTHER BONDS. CORPORATE STOCKS. AND SECURITIES PARTICIPATION CERTIFICATES I N FED. AGENCY LOANS ALL OTHER (INCLUDING CORPORATE STOCKS) CASH ITEMS I N PROCESS OF COLLECTION RESERVES WITH FEDERAL RESERVE BANKS CURRENCY AND COIN BALANCES WITH DOMESTIC BANKS INVESTMENTS I N SU BSI D I AR I E S NOT CONSOLIDATED OTHER ASSETS TOTAL A S S E T S / L I A B I L I T I E S .1 14,611 102,108 14,381 24,642 18,891 16,821 499 498 2,318 2,076 188 188 953 895 820 805 965 940 1 190 52 26 32 15 * — 10,663 4,800 9 78,376 36,843 159 10,817 4,443 11 16,141 6,425 9 13,660 4,699 101 13 5 7 11,970 4,272 73 7 38 541 3,523 78 7 180 7 59 9 54 5 24 33 754 5 70 9 103 14 48 4 101 172 704 2,433 129 113 1,203 18 1,008 844 218 2,940 6,656 11,068 1,852 2,163 5,520 732 5,592 6,748 1,521 536 521 2,413 39 206 1,482 42 971 838 27 421 633 3,776 279 311 2,649 63 1,276 1,871 205 297 499 3,081 30 111 3,440 37 1,237 1,132 126 229 625 2,023 90 40 2,242 23 2,185 1,053 46 116 425 85 2,605 1,076 2,685 1,466 14,666 186 515 110 2,538 358 1,061 247 5,677 244 699 63 3,279 212 601 194 2,833 544 1,491 3,275 7,832 145 1,979 760 3,949 266 2,542 100 2,304 59 ^ 511 1,266 772 202 306 58 794 18,009 873 2,686 11,123 6,629 953 4,763 686 6,915 133,177 92 322 1,023 545 244 270 86 799 17,348 216 752 1,387 1,403 353 559 29 1,192 29,565 49 422 1,545 1,038 370 440 8 836 23,128 12 417 1,858 920 195 481 42 905 21,222 6,940 4,959 647 121 805 149 5,692 4,417 244 89 664 33 11 78 156 7,276 9,082 7,540 506 183 590 7 2 63 191 13,677 8,857 7,281 457 201 643 6 59 42 168 9,300 7,953 5,872 551 121 1,243 101 158 6,898 50,628 31,564 1,419 616 10,220 411 813 2,848 2,737 47,910 2,107 3,485 922 116 265 10,707 24,698 4,161 4,170 I 4,090I 2,234 4,073 577 165 210 5,876 5,726 1,872 49 150 3,817 4,364 1,034 14 45 2,116 4,327 1,355 248 8 1,953 27 138 560 12,544 387 2,829 7,190I 1,700 186 200 797 2,504 8 423 1,100 2,014 112 51 980 2,293 43 343 877 177 212 3 1,599 167 4 1,486 - - — 4 • 1 H * y # * * * P 4 • L I A B I L I T I E S DEMAND DEPOSITS - TOTAL I N D I V I D U A L S . PARTNERSHIPS. AND CORPORATIONS STATES AND P O L I T I C A L SUBDIVISIONS U . S . GOVERNMENT DOMESTIC INTERBANK — COMMERCIAL MUTUAL AVINGS FOREIGN—GOVTS., O F F I C I A L I N S T I T U T I O N S . ETC. COMMERCIAL BANKS CERTIFIED AND OFFICERS CHECKS TIME AND SAVINGS DEPOSITS—TOTAL ( 2 ) I N D I V I D U A L S , PARTNERSHIPS, AND CORPORATIONSSAVINGS DEPOSITS OTHER TIME DEPOSITS STATES A N D . P O L I T I C A L SUBDIVISIONS DOMESTIC INTERBANK FOREIGN—GOVTS., O F F I C I A L I N S T I T U T I O N S . ETC. FEDERAL FUNDS PURCHASED AND SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE BORROWINGS—FROM FEDERAL RESERVE BANKS FROM OTHERS OTHER L I A B I L I T I E S AND MINORITY INTEREST I N CONSOLIDATED S U B S I D I A R I E S RESERVES FOR LOANS RESERVES ON SECURITIES TOTAL CAPITAL ACCOUNTS M E M 0 R AN mm a» mm mm —— - - 10,535 13,984 4,748 76,766 98,180 28,669> 10,778 14;154 3,916 15,920 23,468 6,922 13,645 18,056 6,468 11,905 15,791 4,731 3,484 2,310 1,174 24,188 14,881 9,307 2,366 1,664 702 3,555 2,195 1,360 2,017 1,389 628 2,764 1,678 1,086 - - R* Y - - 1,320 - - L # F 3 42 121 8,056 10,054 1,635 ** - - 276 25 2,470 178 1 1,314 < • * 0 A TOTAL LOANS, GROSS ADJUSTED ( 3 ) TOTAL LOANS AND INVESTMENTS. GROSS ADJUSTED ( 3 ) DEMAND DEPOSITS ADJUSTED ( * ) NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED I N DENOMINATIONS OF S 1 0 0 . 0 0 0 OR MORE INCLUDED I N TIME AND SAVINGS DEPOSITS—TOTAL TO I N D I V I D U A L S . PARTNERSHIPS. AND CORPS. DigitizedTO for OTHERS FRASER http://fraser.stlouisfed.org/ SEE Reserve FOOTNOTES FIRST Federal BankON of St. LouisTABLE. * i A H.4.2(B) WEEKLY CONDITION REPORT OF LARGE COMMERCIAL BANKS, BY D I S T R I C T , NOV. 21 f 1973 4ICAGO ASSETS TOTAL LOANS AND INVESTMENTS, (GROSS) FEDERAL FUNDS SOLD AND SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL—TOTAL COMMERCIAL BANKS BROKERS AND DEALERS INVOLVING U , S . TREASURY SECURITIES INVOLVING OTHER SECURITIES OTHERS OTHER LOANS—TOTAL (1) COMMERCIAL AND INDUSTRIAL LOANS ( 1 ) AGRICULTURAL LOANS LOANS TO BROKERS AND DEALERS FOR PURCHASING OR CARRYING—U. S . TREASURY SECURITIES OTHER SECURITIES OTHER LOANS FOR PURCHASING OR CARRYING— U. S . TREASURY SECURITIES OTHER SECURITIES LOANS TO NON-BANK FINANCIAL INSTITUTIONS SALES FINANCE, PERSONAL FINANCE, ETC. OTHER REAL ESTATES LOANS LOANS TO DOMESTIC COMMERCIAL BANKS LOANS TO FOREIGN COMMERCIAL BANKS , CONSUMER INSTALMENT LOANS LOANS TO FOR. GOVTS., OFFICIAL I N S T S . , ETC. OTHER LOANS U . S . TREASURY SECURITIES—TOTAL TREASURY BILLS TREASURY CERTIFICATES OF INDEBTEDNESS TREASURY NOTES AND U . S . BONDS MATURING— WITHIN 1 YEAR 1 YEAR TO 5 YEARS AFTER 5 YEARS OTHER SECURITIES—TOTAL OBLIGATIONS C? STATES AND POLITICAL SUBDIVISIONS— TAX WARRANTS AND SHORT-TERM NOTES AND B I L L S ALL OTHER OTHER BONDS, CORPORATE STOCKS, AND SECURITIES PARTICIPATION CERTIFICATES I N FED. AGENCY LOANS ALL OTHER (INCLUDING CORPORATE STOCKS) CASH ITEMS I N PROCESS OF COLLECTION RESERVES WITH FEDERAL RESERVE BANKS CURRENCY AND COIN BALANCES WITH DOMESTIC BANKS INVESTMENTS I N SUBSIDIARIES NOT CONSOLIDATED OTHER ASSETS r TOTAL A S S E T S / L I A B I L I T I E S > SAN * * ST . * * MINNE- [KANSAS DALLAS FRANCISCO APOLIS | CITY LOUIS ( I N MILLION!> CF DOLLARS) 53,148 8,231 4,059 8,354 14,930 78,407 2,639 2,310 858 791 223 150 685 592 1,281 1,148 2,419 2,052 326 WW 65 8 3 38,205 15,907 247 17 48 2 5,354 2,292 32 2,848 1,431 26 28 5,640 1,973 420 125 9,706 4,319 295 260 61 46 58,260 19,946 2,011 27 980 1 78 —— ww 10 19 45 29 577 31 587 3 100 137 171 5 458 24 310 1,679 3,092 7,954 416 695 3,809 324 2,457 3,876 944 126 311 952 67 9 872 7 504 611 53 68 201 408 4 43 242 6 272 292 103 111 341 917 12 15 1,055 144 693 1,380 32 59 1,052 563 2,020 349 8,428 42 463 53 1,,408 14 105 70 696 690 5,939 19 1,,039 418 323 1,476 3,682 3,289 571 1,256 133 2,358 64,437 55 295 918 362 90 278 12 368 10 ,259 18,210 13,739 779 ] 301 2,312 3 16 202 858 29,058 3,848 2,572 142 71 1,001 14 48 3,552 18 33 1 ;,546 10 59 3,921 8,476 15,753 3,408 356 1,029 1,110 1,964 387 59 2 292 1 ,162 83 8 919 2,308 530 70 9,600 38 556 2,073 1,681 21 36 280 1 ,127 19 166 200 656 8 4,238 94 9 738 358 38,118 50,422 11,915 5,354 7,373 1,858 8,702 5,893 2,P09 944 73 —— 606 568 126 1,220 950i 126 1,368 2,661 17,925 832 617 8,875 156 2,929 5,657 1,112 89 305 48 1,461 130 523 171 2= ,993 1,237 2,761 547 12,071 23 1,218 104 2,,610 1,256 7,634 80 140 1,005 627 69 276 4 386 10,721 9 270 1 ,523 985 114 544 16 837 18 ,949 322 2,859 5,654 6,704 847 1,009 322 4,478 97,421 4,175 2,911 216 85 894 6,871 4,911 506 89 1,211 3 58 93 6,950 29,285 24,851 868 490 1,201 19 43 373 1,440 48,312 1,140 3,873 1,781 111 26 17,452 22,033 5,677 466 2,480 1,307 75 57 299 2,964 22 135 573 8,579 32 782 3,844 45 90 w* —— 797 168 14 1,252 909 1 5,677 2,917 3,905 726 5,721 7,750 2,191 9,803 13,746 4,048 57,795 75,523 21,940 806 719 87 1,471 1,017 454 3,203 2,413 790 10,723 7,579 3,144 ——- 103 175 541 208 22 85 —— 225 5,140 — - - LIABILITIES DEMAND DEPOSITS - TOTAL INDIVIDUALS, PARTNERSHIPS, AND CORPORATIONS STATES AND POLITICAL SUBDIVISIONS U . S . GOVERNMENT DOMESTIC INTERBANK — COMMERCIAL MUTUAL SAVINGS , FOREIGN—GOVTS., OFFICIAL INSTITUTIONS, ETC. COMMERCIAL BANKS CERTIFIED AND OFFICERS CHECKS TIME AND SAVINGS DEPOSITS—TOTAL (2) INDIVIDUALS, PARTNERSHIPS, AND CORPORATIONSSAVINGS DEPOSITS OTHER TIME DEPOSITS STATES AND POLITICAL SUBDIVISIONS DOMESTIC INTERBANK * FOREIGN—GOVTS., OFFICIAL INSTITUTIONS, ETC, FEDERAL FUNDS PURCHASED AND SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE BORROWINGS.-FROM FEDERAL RESERVE BANKS FROM OTHERS OTHER L I A B I L I T I E S AND MINORITY INTEREST I N CONSOLIDATED SUBSIDIARIES RESERVES FOR LOANS RESERVES ON SECURITIES TOTAL CAPITAL ACCOUNTS 1,,679 1,,126 88 22 390 2 w— — •» — - - - - — M E M O R A N D A <4 t TOTAL LOANS, GROSS ADJUSTED (3) TOTAL LOANS AND INVESTMENTS, GROSS ADJUSTED ( 3 ) DEMAND DEPOSITS ADJUSTED (4) NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED < I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE INCLUDED I N TIME AND SAVINGS DEPOSITS—TOTAL » TO INDIVIDUALS, PARTNERSHIPS, AND CORPS. TO OTHERS k SEE FOOTNOTES ON FIRST TABLE. * * PRELIMINARY. 622 322