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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) April 11, 195^ CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS BY INDUSTRY A net decrease of $188 million in loans to public utilities was the principal factor in the $l6l million decrease in commercial and industrial loans at weekly reporting member banks during the week ended April 4. Other decreases included $31 million to manufacturers of food, liquor, and tobacco products, $17 million to commodity dealers, $15 million to "other" types of business, and $13 million to manufacturers of metals and metal products. Offsetting increases included $64 million to manufacturers and producers of petroleum, coal, chemicals, and rubber products and $29 million to sales finance companies. The increase in loans to manufacturers and producers of petroleum, coal, chemicals, and rubber products was the largest weekly increase in this category since Aprill 1955. The decrease in loans to public utilities was the largest weekly decrease in this classification since the series was inaugurated in 1951* The decrease in loans to manufacturers of metals and metal products followed twelve consecutive weekly increases. Changes in loans during the week and since the year-end are shown below; the third column shows the changes during the comparative period last year: Business of Borrower Week ended / Apr. 4—^ Cumulative since year-end Dec. 28, 1955 Dec. 29, 195% to / to Apr. 4, 195^ Apr. 6, 1955 (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 + + + 31 8 13 64 3 -222 +146 +813 +268 +217 -319 +191 + 94 +186 + 52 Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction Other types of business + 6 - 17 + 29 -188 + 2 - 15 +102 -119 -292 +117 - 28 - 34 - 3 -300 +172 + 84 + 6 + 18 Classified changes - net Unclassified changes - net -152 - 9 +967 - 8 +181 1/-154 Net change in commercial and industrial loans -l6l +959 l/+ 26 p/ Preliminary; see footnote on attached table. l/ Prior to 1956, unclassified changes and total net change included changes in agricultural loans. In addition to the weekly table, a monthly table is attached showing changes during March compared with the preceding month and with March 1955; aQ d also showing changes during the past twelve months. All industrial classifications except commodity dealers increased borrowings in March. The increases in loans to manufacturers and producers of petroleum, coal, chemicals, and rubber products and to "other" manufacturing and mining were the largest monthly increases in these business categories since this series was started; and the increase in loans to manufacturers of metals and metal products was the largest since January 1952. The net decrease in loans to commodity dealers was FRASER Digitized forthe largest monthly decrease in this classification since last April, H.12(a) CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, APRIL 4, 1956 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 New All DisSt. Minne- Kansas Phila- Cleve- RichBoston Atlanta Chicago tricts P / York delphia land mond Louis apolis City (In millions of dollars) -31.3 + 7.9 -1.8 -17.6 + .5 + 8 . 9 - 1.5 + .2 + .5 .5 - 1.7 + .3 - 1.2 -13.0 +64.1 + 2.9 -1.5 -15.6 + .2 +37.2 + .1 + 1.5 + 1.1 .2 + 3.9 +21.7 + 2.6 - .1 - .5 - 1.1 .2 - . 6 .8 - 2.8 - .3 + 1.3 + + (. c Q) ( + 5*9) + .4 - 2.4 + - - - .8 .8 — (. ? 0) + 2-3 + 2 . 1 ( 2 - 8 ) + 3.0 - 1.1 - .5 - 1.7 - 2.8 + + 8.5 + 2.6 + 4.0 + .2 + 3.8 +16.0 + 3.3 + .1 - .9 - .1 - 9.7 .2 - 1.7 .7 - 1.8 .9 + - .1 + .7 + .3 .5 + 5.6 - 3.7 + 1 . 3 + •5 .8 - 3 . 3 + 1.4 +15.1 - .7 + 1.3 + .9 + 7.0 +4l. 1 - 7.1 + 8.2 + 1.0 -15.3 + 8.1 - 1.1 - - 4.2 + 1.0 + 2.3 +22.9 +40.0 - 8.0 + 4 . 0 + 2 . 0 -13.0 +31.0 -15.0 + .9 - 3 1 . 5 + 2.6 + -14.2 -227.9 +13.6 +37.3 - 3.9 - 1.8 -21.1 + 1.4 - 3.3 - 4.1 -16.0 - 2 4 9 . 0 +15.0 +34.0 - 8.0 -161.0 .4 + + .6 - All other types of business Net change in commercial and industrial loans - - .1 - .7 + 1.9 + .4 + .7 - - 8.9 .4 - 2.8 - 3.9 - 2.0 .6 + Unclassified changes - net + .1 .1 .3 - + 2.3 -152.1 - 2.5 + 1.1 + + + 1.9 - 1.1 Construction Net change in classified loans l/ + 2.2 + 1.5 .2 .5 + 1.9 - 6.0 -25.6 +14.1 .6 + + - 2.7 + -5 + 1.9 +28.6 - 5.2 - 1 7 6 . 7 - .7 - .2 - 1.1 - 2.5 - 1.3 +.7.2 Sales finance companies -187.9 + 2.6 + 6.3 + 1.4 .6 .2 + - Public utilities (including transportation) + .5 + 1.0 + 1.0 + .3 — — - 1.1 -16.6 - 8.5 - 3.5 - 2.4 I San FraniCisco E/ " Commodity dealers .1 .7 .1 + 2.6 + .5 — — Dallas -- + 7.0 .3 .9 - .6 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 OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY Business of Borrower Manufacturing and mining: 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 Trade — wholesale and retail 4 weeks ended Mar. 28, 1956 5 weeks 5 weeks ended ended Feb. 29, 1956 Mar. 30, 1955 (In millions of dollars) 12 months ended Mar. 28, 1956 + + 42.7 84.1 -120.3 + 48.1 - 42.2 + 73.0 + + + + + 509.6 111.2 145.1 +249.8 + 45.2 + 59-3 + 80.1 + 86.5 + 49.2 +1,111.2 + 530.1 + 386.7 + IO6.9 + 56.6 + 91-1 + 579-9 72.6 + 8.2 -131.9 + 165.5 Commodity dealers 27.8 237.0 Sales finance companies + 157.5 -257.2 + 97.5 + 867.2 Public utilities (including transportation) + 226.2 + 13.0 +126.1 + 609.2 Construction + 2.9 - 29.1 - 9.1 + 206.0 All other types of business + 60.4 + 1.7 + 49.3 + 482.3 Net change in classified loans l/ +1,374.0 + 75-3 +469.6 +5,202.9 Unclassified changes - net + 96.0 + 44.7 + 19.4 - Net change in commercial and industrial loans +1,470.0 +120.0 +489.0 +4,912.0 290.9 Loans reclassified on October 5 + Total +5,230.0 l/ See footnotes on preceding tables regarding coverage. 318.0
