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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) May 26, 1954 CHANGES IN COMMERCIAL AM) INDUSTRIAL LOANS BY INDUSTRY Repayments of $32 million by public utilities, $25 million by manufacturers of metals and metal products, $9 million by manufacturers of food, liquor, and tobacco products, and $49 million by unclassified borrowers were partly offset by increases of $33 million in loans to manufacturers and producers of petroleum, coal, chemicals, and rubber products and $11 million to the wholesale and retail trade. The net decrease in commercial, industrial, and agricultural loans at weekly reporting member banks during the week ended May 19 was $70 million. The decrease in loans to public utilities, which followed three weekly increases, was largely in the New York District. Loans to manufacturers of metals and metal products and to manufacturers of food, liquor, and tobacco products have decreased for nine consecutive weeks. The increase in loans to manufacturers and producers of petroleum, coal, chemicals, and rubber products was the largest weekly increase in this business category since December 1952; the current increase was largely in the Chicago District. Changes in loans during the week and since year-end 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, & rubber Other manufacturing and mining Week Cumulative since year-end ended Dec. 30 Corresponding May 192/ 19532/ period, 1953 (in millions of dollars) - 9 - 1 -25 +33 - 4 - 444 + 5 1 - 224 + 6 - 31 -533 +115 +381 +60 + 55 Trade -- wholesale and retail Commodity dealers Sales finance companies Public utilities & transportation Construction Other types of business +11 -- 1 -32 +8 - 2 - 34 - 331 - 236 42 + 5 3 + 55 +200 -508 - 69 +99 + 6 - 28 Classified changes - net Unclassified changes - net -21 -49 -1,176 - 229 -224 -201 Net change in commercial, industrial, and agricultural loans -70 -1,405 -425 p/ Preliminary; see footnote on attached table. CHANGES IK COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, MAY 19, 1954 H.12(a) Business of Borrower Manufacturing and mining: Food, liquor, and tobacco Textiles, apparelf and leather Metals and metal products (including machinery & transportation equipment) Petroleum, coal, chemicals, and rubber Other manufacturing and mining Trade: Wholesale Retail Commodity dealers All Dis- Boston New Phila- Cleve- Rich- Atlanta Chicago St. jMinne- Kansas Dallas San Francisco P / Louisiapolis City York delphia land mond tricts P/Z (In millions of dollars) .7 + 1.1 + 2.2 - 7.9 - 1.9 .9 - 1.9 - 1.2 - -3 - 2.1 - 8.6 - .5 - -24.5 +32.6 - 3-9 - .7 - 7.8 - 2.0 - 2.5 + 1.9 + 4.4 - .8 + 1.8 + - .2 + 1.4 - .2 - 2.8 - ( n (+10.9) -- .1 .4 .9 - .2 .7 - 3.6 + 1.1 + 2.0 + 4.1 + 4.3 - .2 .4 - 7.2 +28.0 - 3.2 - — - 1.0 -- .1 - .5 - 1.2 .3 + 1.1 - 2.0 .7 ~ - - .1 - 2.5 - 2.1 + • 1 + 1.3 + .6 + 1.1 + - 1.3 + 2.4 + + .2 + 2.5 + .6 + .8 + .9 - 1.3 .1 + 1.1 + .3 + 3.0 + .4 - .5 - 1.2 + 1.3 + .9 - 7-3 - 1.5 - .1 - 2.3 - 1.5 - 3.0 + 1.0 + 2.1 + .1 -.4 + .5 — .9 + Sales finance companies - 1.2 - 1.5 +10.1 Public utilities (including transportation) -32.2 + Construction + 8.3 + 1.1 + 4.3 + All other types of business - 2.3 + .7 + .2 + Net change in classified loansi/ -21.4 - .6 -10.2 - Unclassified changes - net -48.6 - .4 -15.8 - 1.8 - 2.8 - 3.4 Net change in commercial, industrial, and agricultural loans -70.0 - 1.0 -26.0 - 2.0 -21.0 -10.0 ' - .5 -29-9 + — .2 — + .2 U ( .4 + — .2 .9) + 1.7 ) + 3.4 .7 -1.3 -- - .6 + 2.5 - .6 + 4.5 + 2.6 - 5.6 - .7 + 1.5 + .7 - 2.5 -18.6 — 8.0 - 1.0 + 2.0 -16.0 + 5.7 + .2 -18.2 - 6.6 - 4.8 + - 4.0 - 1.5 - 1.1 + 3*6 .7 - 9-5 - 1.7 - 2.3 .8 .5 .8 +22.6 + .5 + 2.6 + 1.0 .1 - .9 -15.9 + 1.3 .6 + - + .1 - 1.3 - 2.9 + 1.6 + — .2 - .8 •3 + 2.7 + 3.7 .2 .3 - .9 - 3-7 - - +17.0 -- •5 + .4 - .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. 1/ About 220 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.
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