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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) H. 12 April 1, 1959 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY principal at weekly decreases products A net decrease of $80 million in loans to sales finance companies was the factor in the $38 million net decrease in commercial and industrial loans reporting member tanks during the week ended March 25. Other large net were $39 million in loans to manufacturers of food, liquor, and tobacco and $11 million to commodity dealers. The principal offsetting net increases were $42 million to manufacturers of metals and metal products, $27 million to the wholesale and retail trade, and $l4 million to "other" manufacturing and mining businesses. 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 Week ended , Mar. 252/ Cumulative since year-end Dec. 31, 1957 Dec. 31, 1958 to to . Mar. 25, 19592/ Mar. 26, 1958 (in millions of dollars) Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, and rubber Other manufacturing and mining -39 - 3 +42 -262 +129 +490 + + - 6 +14 - 76 + 94 24 + 109 Trade—wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business +27 -11 -80 - 7 - 3 - 4 + 89 -175 -125 -207 + 5 -101 - Classified changes - net Unclassified changes - net -70 +32 -i4o - 63 - Net change in commercial and industrial loans -38 -203 -1,219 g/ Preliminary; see footnote on attached table, 400 150 300 181 215 510 190 14 15 989 230 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, MARCH 25, 1959 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 Phila- Cleve- Rich- Atlanta Chicago St. Minne- Kansas Dallas San FranAll Dis- Boston New cisco £/ Louis apolis City York delphia land mond tricts b/ (In millions of dollars) +1.2 - -5 -1.6 - .3 + .4 -12.2 - 3.4 -1.9 - .2 + .7 -1.7 + .1 - .4 + .8 .1 -10.4 + .7 +8.4 + .7 + .8 + 2.0 - 2.2 + 6.6 + .4 + .4 +1.5 + .5 +1.9 + .9 - 3-1 + 2.4 + 1.4 - .4 + .2 + .1 + .3 +2.0 + .7 +1.3 + .1 + .4 - .9 + 1.0 + .1 + 2.6 - 5.8 - 1.6 + 6.8 + 1.0 + .3 + .7 + .5 + 3-7 + .5 + .9 +1.9 + .5 + .9 + 1.8 + .6 - .9 - .8 +1.4 + .8 -l.l -5.4 - 3.6 + •3 -1.6 -1.5 - -5 - .1 +1.9 - .7 - -79.6 - .3 -86.4 -4.1 + 2.7 -1.3 - .3 + 2.9 - .6 +2.0 +2.7 + 3.1 Public utilities (including transportation) - 7.2 + .1 - 2.6 +1.1 — 6.0 - -9 - .3 - 2.9 - .6 - .2 + .1 + .5 + 4.5 Construction - 3-0 + .9 + .9 + .2 - + .4 - .8 - 3-6 + .2 - .5 + .2 + 2.1 - 2.4 All other types of business - 3.7 -2.4 + 1.9 -3.8 + 1.1 +1.0 - .7 - 2.5 - .6 - .8 - .7 + 3.0 + Net change in classified loans l/ -70.2 -8.2 -64.7 +2.8 + 9.0 - .8 +2.2 -18.8 -4.2 +4.3 +10.8 - 6.1 Unclassified changes - net +32.2 +4.2 - 5.3 +3.2 + 1.0 — .2 + .8 - 1.2 - .8 +4.7 + .5 + .2 +25.1 Net change in commercial and industrial loans -38.0 -4.0 -70.0 •6.0 +10.0 -1.0 +3.0 -20.0 -5.0 4f.O +11.0 +19.0 -38.8 - 2.7 - .6 - .4 - 9-2 + .7 -1.9 + .1 +41.5 - 6.4 +13-5 - .3 - .4 + .8 +30.0 - 6.6 + 2.4 (,07 fO }+£(.U\ • •2 Commodity dealers -10.8 Sales finance companies Trade: Wholesale Retail • - .6 +3.5 +4.0 , ) + 4.0 (+ 2 2-7) + 1.0 L .1 + .5 .8 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 210 weekly reporting member "banks are reporting changes in their larger loans as to industry; these "banks hold about 95 per cent of total commercial and industrial loans of all weekly reporting member banks and about 75 psr cent of those of all commercial banks.
