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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) April 8, 1959 CHANGES IN COMMERCIAL M P INDUSTRIAL LOANS BY INDUSTRY The net decrease in commercial and industrial loans at weekly reporting member banks during the week ended April 1 amounted to $5 million. The principal net decrease was $144 million in loans to public utilities. The larger increases were $109 million in loans to sales finance companies and $62 million to manufacturers of metals and metal products. The decrease in loans to public utilities was the largest weekly decrease in this category since April 1956. 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 Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, and rubber Other manufacturing and mining Week ended April Cumulative since year-end Dec. 31> 1958 Dec. 31; 1957 xo / to / to -of n April 1, 1959 April 2, 1958 (in millions of dollars) - 16 + 3 + 62 -284 +132 +555 + + 426 153 272 7 7 - 84 +102 + 38 io4 Trade—wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business - 1 - 5 +109 -144 + 1 + 4 + 91 -l8l - 16 -354 + 6 - 93 - 167 - 237 - 596 - 207 14 28 Classified changes - net Unclassified changes - net + 13 - 18 -126 - 82 -1,185 - 220 Net change in commercial and industrial loans - 5 -208 -1,405 + ja/ 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 1958, and also showing changes during the past twelve months. Changes during March were in the same direction as in March 1958 in all industrial classifications except public utilities, which increased during the current month compared with a decrease during March a year ago. The monthly increase in loans to metals and metal products was the largest increase in this category since June 1957; and the monthly increase in the wholesale and retail trade was the largest since October 1956. 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 1, 1959 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 Districts P / Boston New York Phila- Cleve- RichSt. delphia land mond Atlanta Chicago Louis (In millions; of dollars) Minne- Kansas San Fr apolis City Dallas cisco - 16.0 + 3-2 - 4.0 + .8 - 1.6 - 2 . 7 + 1.9 .5 + .1 +1.0 - 1.4 + .2 - .2 + 4.9 + .1 + 1.6 -2.7 -1.7 - + 61.5 7.0 + 6.9 + 3.2 - 1.1 + 1.7 + 32.1 + 1 . 2 + 4.5 + 1 . 0 + 1.9 - •9 +1.8 - .1 -1.2 + +1.7 + .5 •7 +1.2 +11.2 + .6 - 6.6 - .3 + 2.4 + .3 - - 1.0 -10.9 + 4.3 + .2 - •9 .1 + .6 -1.5 + .8 - 1.0 + .2 + 3 . 2 - -3 + 1 . 5 - .6 -- •3 + .2 - 2.2 + 1*5 - .2 - 2.0 + .2 + .4 •» ( _ ( ,) ) 7 - + Commodity dealers - 5.2 + Sales finance companies +108.5 - 2.9 + 69.4 + 4.5 +3.4 + 3-5 -2.4 +25.5 +1.2 Public utilities (including transportation) -143.7 + -143.3 + 6 . 2 -5-0 + 7-7 - 8.6 Construction + - .7 + All other types of business + 4.0 - Net change in classified loans l/ + 12.7 -15.4 Unclassified changes - net - 17.7 + Net change in commercial and industrial loans - 1.2 5.0 .4 - .2 _ 1-3 .9 + l.l - •9 - + .1 - 2.1 - .1 8.0 + 3.3 + .8 +1.2 + .2 - .9 - 4.0 + .5 + 8.5 1.0 + 2.0 + .8 +3.3 ( C l4> l A ) - + 1.4 .8 + 1.3 -1.3 .7 + .8 + .9 - 1.4 + 6.0 - .1 + •3 - .2 - -9 - .7 + .2 + 7.6 + -7 + .2 + .2 - 4.0 - 4.1 +1.8 + 2.2 +2.0 + .4 + .3 + 4.1 + — - - - +1.4 - 38.5 +11.0 - .4 + 6.0 +1.1 +44.9 +1.2 +].1 +4.9 -10.9 + 7.7 1.0 +1.4 + 5.0 + .9 - 2.9 -1.2 + .9 + .1 + .9 + 8.3 69.O +10.0 +1.0 +11.0 +2.0 +42,0 +2.0 +5.0 -10.0 +16.0 .4 - 30.5 - •9 .2 .4 -1.4 .6 7.2 + .1 -15.0 - - .4 - - 2.3 — — .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, l/ 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 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 4 weeks ended Mar. 25, 1959 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 4 weeks 4 weeks ended ended Mar. 26, 1958 Feb. 25, 1959 (In millions of dollars) 12 months ended Mar. 25, 1959 - 46.4 + 57.0 - 70.4 + 83.7 - 46.3 + 48.8 - 3.8 -169.1 +249.2 - 10.1 + 88.3 +183.2 + 3*8 + 20.4 +233.1 - 6.2 + 91.5 -114.8 -206.1 + 22.1 Trade — wholesale and retail +151-9 + 34.3 + 75.1 +277.6 Commodity dealers - 12.5 -104.1 - 80.1 +165.8 Sales finance companies +234.5 - 94.7 +105.7 -173.9 Public utilities (including transportation) + 27.4 -128.2 - 19.9 + 36.1 Construction + 17.9 + + 8.9 +124.1 All other types of business + 23.7 - 8.8 + 72.7 +349.0 Net change in classified loans l/ +780.9 - 71.5 +483.3 +307.0 Unclassified changes - net +135.1 + 71.5 + 90.7 -212.0 Net change in commercial and industrial loans +916.0 +574.0 + 95-0 1/ See footnote on preceding table regarding current coverage. 9-3
