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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) H.12 April 16, 1958 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY A net decrease of $89 million in loans to sales finance companies was the principal factor in the net decrease of $182 million in commercial and industrial loans at weekly reporting member banks during the week ended April 9« Other relatively large net decreases during the week included $40 million in loans to "other" types of business, $28 million to manufacturers of food, liquor, and tobacco products, and $10 million to manufacturers of metals and metal products. Changes in loans during the week and since the last Wednesday in December are shown below; the third column shows the changes during the comparable period last year. Business of Borrower Cumulative since year-end Dec. 25, 1957 Dec, 26, 1956 to . to Apr. 9. 19582/ Apr. 10, 1957 (In millions of dollars) Week ended , Apr. 9&/ Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, and rubber Other manufacturing and mining - 23 - 7 - 10 - 572 + 125 + 220 -348 +150 4594 - + 5 84 + 41 +128 Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business - 2 - 8 - 89 - 6 + 3 - 40 - 278 250 588 121 18 10 - 94 -283 +157 +103 - 51 -167 Classified changes - net Unclassified changes - net -195 + 13 -1,413 - 230 +230 -117 8 1—1 -1,643 +113 • Net change in commercial and industrial loans 4 4 g/ Preliminary; see footnote on attached table. 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 9, 1958 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 Phila- Cleve- Rich- Atlanta Chicago St. Minne- Kansas Dallas San FranAll Dis- Boston New cisco p/ Louis apolis City tricts p/ York delphia land mond (In millions of dollars) + .6 - .3 -10.7 - .3 -2.8 - .1 -1.7 +1.5 - .4 + .6 - 5-4 - 3.9 -1.9 + .3 + .9 + .8 -1.0 - . 1 - 1*1 f .6 + .4 + .2 - .7 - 27.8 - 7-1 + .1 -1.4 - 12.0 - 6.7 + .3 + .3 - -3 + .7 - 10.3 - 3.7 - 4.4 + -5 + .9 + .5 - 3.1 5-5 3-3 - .2 - .1 + .2 - • 3 - .6 + .8 + .4 + .6 - .1 3 k ) + .1 + .4 -k) - 2.2 + 1.8 +1.1 - -5 - -7 + .2 ( (- 2 - -3 + .8 - - Commodity dealers - 7.5 - .9 + 2.9 - .4 - .4 - .4 -1.5 + .6 - 88.7 -7.4 - 70.9 -- -7-8 +1.3 +1.3 - -3 +2.2 Public utilities (including transportation) - 5.7 + .8 - .5 -1.0 + »2 + .4 + .2 - 8.5 Construction + 2.8 + -5 + .7 — - .4 * .2 * + .6 All other types of business - 39.9 -1-7 - 11.3 -2.3 + .3 -3.2 Net change in classified loans 1/ -194.7 -7.6 -110.1 —2.6 -7-1 Unclassified changes - net + 12.7 -1.4 - + ,6 Net change in commercial and industrial loans -182.0 -9.0 1 -116.0 -2.0 + -1.0 — .2 - .2 - .8 - .1 + .1 + 1.9 + 1.4 - »3 - .1 + .4 ( + -7 ( -4.3 Sales finance companies + .4 -- — - 5.9 .6 - 2.0 - .1 + .3 - 1.0 - 1.2 0) + 1.0 1.5 -9)- - .4 - 2.1 - .6 + .9 +1.7 - .5 - 9.2 + .4 + .7 + .1 + .1 + 1.4 - 2.4 + .3 + .1 +1.1 + 2.5 - .2 - 4.2 - .2 + .1 + .8 -15.4 - 2.6 -2.1 +2.9 -36.8 -5.7 -1.5 +3.7 -12.3 -15.5 + .1 +1.1 + .1 - .2 - -3 -1.5 - .7 + 3.3 +17.5 -7-0 -1.0 +3.0 -37.0 -6.0 -3.0 +3 - 0 - 9.0 + 2.0 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. \f About 210 weekly reporting member banks are reporting changes in their larger loans as to industry; these banks hold about 95 Pe** cent of total commercial and industrial loans of all weekly reporting member banks and about 75 P e r cent of those of all commercial banks.
