Show Utah Banks Serve Credit Needs i. i That That banks in Utah are 1 serving ng the I credit needs of oI is evidenced e by tho thoo results re- re sulU of a a survey 0 Of bank lending no c n t tY y announced b by the American an Bankers AssociatIon Association indicating that the theco commercial l banks banks' of or the state made more t than all new loans totaling to business firms firms firms' and ana n individuals during the first six six months of or 1939 ant and renewed outstanding loans totaling i 23 during the same Th The B survey y also r reveals that bu bu- bu ness firms firms' in the state are using only about half one half of or the open lines lineR of or credit ii maintained ln Jar for their use ou on on the 1 l r or the the h banks These Estimated figures are based I Io o on reports report's received ff from 26 banks I In h 1 holding membership In the ABA or 43 per cent of ot the 60 I met commercial banks In tb the state and altos allowance an Is made for or the tha c I c U tion tiou of or lending activity in the metropolitan metropolitan metro metro- politan areas of Salt Lake City and ana ana Og en I The h 26 2 26 6 banks reported they mane mano mane 1911 2 new loans totaling 42 between January 1 and June 30 1939 and renewed outstanding ing lo loans lUs totaling In addition on t they y reported 9 91 1 new mortgage loans ns to home own owners rs and anti other real estate owners totaling 3 29 9 The average numb number T of now loans vcr per bank bank was and tile the average new ne loan was for tor F Phe ati number of or renewals I per p per r bank ank i was was 3 G. G a and d' d the average a r une raI w was s for fOIl 2 The average number or of new mort niort- mortgages gages g-ag g gages s jer per bank- bank bankw w was 36 36 ant and the Ule aYe average ge mortgage was for tor in add addition lon to t to making loans on J individual 1 a applications lons Ute time banks bank of or orthe the larger Jarg cities cities' maintain maintain what are arek k known as as open lines of or credit i ou u their their- books aya available bic a at all q o regular b af business borrowers Three blanks Reported r t d S such Ch open lines r ch credit ij re totaling 7 17 1500 However only iii 9 01 or 54 51 per Iler cent of this cre l H it was being b used usei by b bb busi business b siness si- si Elness ness firms firm on Juno June 30 |