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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM g ^2 (For Immediate Release) April 10, 1957 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Net repayments of $28 million in loans to manufacturers of food, liquor, and tobacco products, $28 million to public utilities, $21 million to sales finance companies, $l6 million to "other" types of business and $37 million to unclassified borrowers were the principal factors in the $106 million net decrease in commercial and industrial loans at weekly reporting member banks during the week ended April 3* The only sizable offsetting increase reported during the week was $26 million in loans to manufacturers of metals and metal products. 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: Purine8s of Borrower Cumulative since year-end Dec. 26, 1955" Dec."28, 1955 Week to . to ended . Apr. 3, 19572/ Apr, 4, 1956 Apr. 3E/ (In millions of dollars) Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather + Metals and metal products Petroleum, coal, chemicals, & rubber+ Other manufacturing and mining 28 2 26 8 2 -333 +134 +587 + 45 +114 - + + - 8 3 21 28 5 16 -117 -250 +114 +112 - 48 -148 105 120 292 + 120 27 45 Classified changes - net Unclassified changes - net - 69 - 37 +210 -152 + Net change in commercial and industrial loans -106 58 Trade—wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business 220 + 146 + £16 + .271 + 218 + - 973 24 + 949 p/ Preliminary; see footnote on attached table. In addition to the weekly table, a monthly table is attached showing changes during March compared with the preceding month and with March 1956, and also showing changes during the past twelve months. All industrial classifications except commodity dealers increased borrowings in March, as they did in March 1956. The increase in loans to manufacturers of metals and metal products was the largest monthly increase in this business category since March 1956, and the increase in other manufacturing and mining was the largest since last June. The net decrease in loans to commodity dealers was the largest monthly decrease in this classification since March 1955• CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, APRIL 3, 1957 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 Trade: Wholesale Retail All DisNew Phila- Cleve- RichSt. Minne- Kansas San Frantricts P/ Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas cisco £/ (In millions of dollars) 27.8 2.1 -2.0 -24.7 -3.9 - .7 + *5 +1.2 + 26.0 -3-4 + 4.7 - .3 - 5.1 +1.5 - 2.3 +4.6 - .3 - .8 - -2.3 - 3.7 7-5) -1,7 + 7-1 - .8 -1.7 + + + (+ ( 8.3 1.8 + .1 .2 + .1 +2.1 +2.2 + .2 + 4.6 + .9 -2.2 -2.8 + •7 + .1 -1.8 + .3 - .8 + 4.7 •5 + 1.1 + .4 - .2 + .5 - .8 +1.0 + .5 - + 4.5 4.8 1.9 + *1 - -5 - .7 - .1 .1 + .1 +1.6 + .1 + .9 +1.7 +2.7 + .1 - •1 #1 + *6 + .1 +3*4 + *7 + *2 - .5 Commodity dealers + Sales finance companies - 21.2 +1-9 - 8*7 - .8 + 1.3 -5,0 Public utilities (including transportation) - 28.2 — .1 —24.8 — .4 — 3.5 •2 Construction - 4.8 + *3 * 1*2 -.2 - *3 All other types of business - 15.5 - »1 + 5*0 -4*0 + Net change in classified loans l/ - 69.3 -9.2 -54.1 Unclassified changes - net - 36.7 Net change in commercial and industrial loans -106.0 3.3 + *9 + •3 - *4 - 2.9 -1.5 - - 3.9 + 3*0 - 4*1 - •6 +1.0 +6,9 + *2 + *4 -- .6 ( + 4.5 •7 + 8.0 .3 + 2.8 - ) + 3.9 .4 r 2 - 0 ) + 4.6 - * 4 -1.2 -20.0 -l.l -1.2 +2.6 —1*3 — 2*1 —— —— -.2 +3*2 -.1 *2 -4*3 -5*0 -- -3.1 + .2 -5.9 -1.3 + .2 -11.9 +5.1 + 9-8 +5-9 -9.0 -66.0 +2.0 +10.0 -- - 1.2 49 • 5 + 1.8 - .5 - *6 +5-7 -1*2 -1.2 + 4.3 -2.4 - .9 .5 .3 + *9 -1.7 -6.3 - -20.6 + .3 - .6 -1.9 +8.2 +18.7 + .3 - 3.4 ~7*3 -.4 -.1 +.8 -35.7 -1.0 -24.0 -7.0 -1.0 -2.0 +9.0 -17.0 4- 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. H, 12(b) CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OP A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY Business of Borrower Manufacturing and mining: 4 weeks ended Mar. 27, 1957 4 weeks 4 weeks ended ended Feb. 27, 1957 Mar. 28, 1956 (In millions of dollars) 42.7 84.1 + + 38.8 75.1 - 89.5 + 84.1 + + + + + 442.8 80.1 91.5 +137.8 - 44.7 + 41.8 + 509.6 + 111.2 4 145.1 * + 80.3 + 28.7 + - 111.0 - Jh.2 - Sales finance companies + 291.6 Public utilities (including transportation) + Construction All other types of business Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products (including machinery and transportation equipment) Petroleum, coal, chemicals, and rubber Other manufacturing and mining 12 months ended Mar. 27, 1957 + + 405.9 230.9 +1,026.4 + 700.7 + 339.0 106.9 + 129.3 72.6 + 202.6 + 30.4 4 157.5 - + 232.7 89.7 - 50.1 + 226.2 + 550.3 + 2.1 - 8.1 + 2.9 - 25.5 + 8.2 - 33.1 + 60.4 + 211.7 Net change in classified loans l/ +1,089.2 + 23.1 +i,374.o +4,004.0 Unclassified changes - net + 51.8 + 31.9 + 96.0 - 258.0 Net change in commercial and industrial loans +1,141.0 + 55.0 +1,470.0 +3,746.0 Trade - - • wholesale and retail Commodity dealers l/ See footnote on preceding table regarding current coverage.
