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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) April 18, 1956 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Net increases of $6l million in loans to manufacturers of metals and metal products, $48 million to public utilities, $28 million to "other" types of business, $24 million to the wholesale and retail trade, and $l6 million to the construction industry were the principal factors in the $101 million increase in commercial and industrial loans at weekly reporting member banks during the week ended April 11. Offsetting decreases included $29 million in loans to sales finance companies, $25 million to "other" manufacturing and mining, and $22 million to commodity dealers. The increase in loans to the construction industry was the largest weekly increase in this business category since July 1955- The decrease in "other" manufacturing and mining was the first weekly decrease in this business category in ten weeks and it was the largest decrease since May 1954. Loans to sales finance companies decreased $69 million in the New York District, but increases were reported in eight of the other districts. 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. 11 Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, & rubber Other manufacturing and mining Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction Other types of business 8 Cumulative since year-end Dec. 28, 1955 Dec 29, 1954 to . to Apr. 11, 19562/ Apr. 13, 1955 (In millions of dollars) 12 25 + + + 228 154 877 260 193 +• 24 + 128 + l6 - 22 - 142 - 29 - -324 +197 + 99 - + 8 + 61 - - 321 168 11 18 -345 +192 + 91 +191 + 60 + 48 + 16 + _28 + Classified changes - net Unclassified changes - net + 68 +_J 4 +1,060 10 1/ -111 Net change in commercial and industrial loans *101 +1,050 1/ +120 - - + 22 + 32 +231 33/ Preliminary; see footnote on attached table. l/ Prior to 1956, unclassified changes and total net change included changes in agricultural loans. CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, APRIL 11, 1956 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 DisBoston tricts p/ 8.3 7.9 60.9 11.8 25.4 New York + • 5 -16.7 + 1.0 + 2.1 Phila- Cleve- RichAtlanta Chicago mord de lphia land (In millions of dollars) - .3 + 1.1 .6 +25.9 + 2.8 .2 - 3.5 - .5 + 1.0 -26.7 - 5.4 + - + 2.4 + 1.0 + 8.6 St. Minne- Kansas San FranDallas cisco p/ Louis apolis City -2.9 - .2 - .4 + .6 + .8 + .9 + +1.3 + 1.7 + .3 + .3 - .9 + 4.2 + .6 +1.4 + + + .2 - .1 - 1.1 -6.0 + 1.8 -1.3 - 3.2 - 1.3 + 4.3 + .9 +12.9 +6.8 + .8 - .6 + 4.0 +10.1 - .4 + .9 - .4 + .8 + 4.4 + 1.1 -1.7 + 1.3 - .9 - + .4 + -5 - .9 +11.6 - 2.9 +1.1 +1.6 + 7.2 .5 + .1 +1.7 .8 +10.4 + 1.0 + 5.7 + 1.1 -10.1 + .6 .5 + .1 + 1.1 + 1.5 + + .1 - .2 .5 + 1.4 " .2 .8 + .6 + 9.6 + .8 - 3.3 + 1.7 + 23-5) + 1.4 + 1.0 + 1.4 - 1.9 Commodity dealers - 21.9 + 2.6 -11.7 - Sales finance companies - 28.7 - .6 -69.0 - 8.7 Public utilities (including transportation) + 47.7 + .8 +26.5 + -3 - 1.8 + .1 + #2 + 3.0 -1.9 + .1 -1.0 - .1 +21.5 Construction + 16.I + .3 + 1.0 + .7 + 3-7 + .6 +1.2 + 1.6 + .3 + 1.8 - .3 + 4.0 + 1.2 All other types of business + 27.5 + 3.2 +11.3 - 3.4 - - l.l +1.2 + 5.4 + .4 + .5 +1.7 + 2.2 + 6.2 Ret change in classified loans 1/ + 87.5 +11.6 +19.5 + 6.0 +5.6 +46.5 +3.0 + 9.8 - .3 + 13.5 + 3.4 + 5.5 + 4.0 +1.4 + 6.5 +1 • 0 + 1.2 +1.3 +10.6 - 2.6 +47.3 Unclassified changes - net -61.3 -10.8 + 6.3 - .2 -14.3 Net change in commercial and industrial leans +101.0 +15.0 -55.0 -11.0 +25.0 +10.0 +7.0 +53.0 +4.0 +11.0 +1.0 + 8.0 +33.0 .8 - .1 .7 .9 +1.8 2 '7) - .1 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 ae 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.
