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11" uvv OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) August 13> 1952 n z m l G * W 3 S IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Increases of $1*3 million in loans to manufacturers and producers of petroleum, coal, chemicals, and rubber products, $ijl million to manufacturers of food, l i q u o r , and tobacco products, and $38 million t o commodity d e a l e r s were p a r t i a l l y o f f s e t by a decrease of $63 million in loans to manufacturers of metals and metal products. Other changes were r e l a t i v e l y small and the net increase i n commercial, i n d u s t r i a l , and a g r i c u l t u r a l loans a t weekly reporting member banks during the week ended August 6 was $76 m i l l i o n . The increases in loans t o manufacturers of food, l i q u o r , and tobacco products and to commodity dealers were the l a r g e s t in these business categories i n 1952. The decrease in loans t o manufacturers of metals and metal products, f o r the t h i r d consecutive week, was the l a r g e s t weekly decline in t h i s business category since t h e s e r i e s was s t a r t e d over a year ago. This decline was r e f l e c t e d i n a l l d i s t r i c t s except Atlanta and Dallas. Changes i n loans during the week and since the year- md were as follows * Business of Borrower Week ended > Since August 62/ December (In millions of d o l l a r s ) ia 12 63 U3 -851 - 10 +9h0, 76 h $ 1 38 1 2 9 3 86 10 +21*8 + 85 -139 -538 -250 —165 + 33 + 28 -61x9 -286 ON 1 Manufacturing and minings + Food, l i q u o r , and tobacco + T e x t i l e s , apparel, and l e a t h e r Metals and metal products + Petroleum, coal, chemicals, & rubber + Other manufacturing and mining Trade — wholesale and r e t a i l + Commodity dealers Sales finance companies + Public u t i l i t i e s and t r a n s p o r t a t i o n + Construction + Other types of business + C l a s s i f i e d changes - n e t Unclasa f i e d changes - net Net change in commercial, indus+ t r i a l , and a g r i c u l t u r a l loans p / Preliminary; see footnote on attached t a b l e . In addition to the weekly t a b l e , a monthly t a b l e i s also attached showing changes during July compared with the preceding month, with July 1951, and with the p a s t 12 months. In many r e s p e c t s July r e f l e c t e d a r e v e r s a l of changes occurring i n recent months. Loans t o commodity dealers showed a seasonal i n c r e a s e , the f i r s t monthly increase since December 1951; t h i s seasonal increase occurred e a r l i e r t h i s year as may be noted by a comparison with July 1951 f i g u r e s . Loans t o manuf a c t u r e r s of metals and metal products showed a monthly decrease f o r t h e f i r s t time since a sample of the l a r g e s t banks began reporting these data over a year ago* Loans to public u t i l i t i e s , which had increased during t h e two previous months, decreased s u b s t a n t i a l l y during July as a r e s u l t of telephone company repayments from funds received from new security i s s u e s . Loans t o sales finance companies also declined; they had increased i n every month since February. In some of t h e other business categories previous trends continued, f o r example, increases i n loans to manufacturers of t e x t i l e s , apparel, and l e a t h e r products, to manufacturers and producers of petroleum, coal, chemicals, and rubber products, and loans to the construction industry. Repayments of loans to manufacturers of food, l i q u o r , and tobacco products continued, but a t a lower r a t e than in any previous month.in 1952; the comparison with July 1951 i n d i c a t e s e a r l i e r crop marketing t h i s year* H,l2(a) CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS OF A SAMPLE OF MEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, AUGUST 6 , 1952 B u s i n e s s of Borrower ( i n m i l l i o n s of d o l l a r s ) New All DisP h i l a - CleveBoston trict sp/ York d e l p h i a land Manufacturing and mining * Food, l i q u o r , and t o b a c c o T e x t i l e s , a p p a r e l , and l e a t h e r M e t a l s and m e t a l p r o d u c t s ( i n c l u d i n g m a c h i n e r y & t r a n s p o r t a t i o n equipment) P e t r o l e u m , c o a l , c h e m i c a l s , and rubber Other m a n u f a c t u r i n g and mining Trade $ Wholesale Retail .6 .7 - 3.5 + .8 + 1.3 - 1.5 + 2.1 + ,1+ — .9 + .1* + 1*. 0 + 1.1 -12.5 — 1,0 + .3 .2 .2 - + 1.2 - 3.8 - .9 + 2,8 + .3 + #9 - 2.3 + + +1*0.7 +11.9 - 1.1 + 3.5 +39.1 + 3.0 + .8 + 1,6 - 1,6 -62,6 .9 + .1 - l.l -39.2 +1*5*6 + .8 - 3.3 .6 + .7 — 2#6 .2 + - - .1 .2 + .2 + - + - 6*1 + 3.5 .2 - 1.6 - #5 +h + - .9 «8 + + .3 .5 + 2,0 + .3 + 2.1 —— ,5 + +1*2,9 + 3.6 ( San FranS t . Minne- Kansas Louis a p o l i s C i t y D a l l a s c i s c o P/ Richmond A t l a n t a Chicago r - ) 1,5 ) .1 + *8 + el .1 + 1.0 *1 " .1* .6 —— - #2 .1 —— + .1 — .2 - l.lt + .9 ( (+ _) .3) + 1.8 - 2.2 Commodity d e a l e r s +37*9 - 2.2 +21.5 • 1.9 - .5 + 1.1+ + 5.0 + .8 + 2.1 + 1,5 + 3.0 * 2,9 S a l e s f i n a n c e companies — .6 + 1.1* - 9.0 + 1.3 + l.lt + .3 + 1,7 + .5 - 3.2 + .2 + Public u t i l i t i e s + 1.8 + 1.7 + .2 - .2 - .7 - .3 + .5 + .3 + + .It + 1.5 + .5 + .5 .3 .1* .1* + 8.8 + + Construction - .9 + 1.0 + i|#0 - . 1 + 1.5 + . 7 + l.l* .3 + 1.1* All other types of b u s i n e s s + 2,8 - .9 + 6.7 .1* • + 1,2 - 7.9 + ,7 — *1 +1.2 - .1 + »6 + 1,1* Net change i n c l a s s i f i e d l o a n s V ' +85.9 + 1.1 +66.0 + .7 + 2,9 - 3.0 - 2.3 + 1,1 + 1*.7 - 1.7 + 6,1 + 9.1 U n c l a s s i f i e d changes - n e t - 9.9 - 1.1 + 1.0 - .7 +1.2 - .2 - — - 1.7 + 1.9 + 2.3 - 1.3 - — 6,1 Net change i n commercial, i n d u s t r i a l , and a g r i c u l t u r a l l o a n s +76.0 — +67.0 + 1.0 + 2.0 - 3.0 - 7.0 + 3.0 + 7.0 - 3.0 + 6,0 (including transportation) — .3 + .6 .9 —— .1 .9 + 3.0 p / P r e l i m i n a r y ; f i n a l t o t a l s w i l l appear i n t h e F*R* B u l l e t i n and f i n a l San F r a n c i s c o D i s t r i c t f i g u r e s appear i n a r e l e a s e of the R e s e r v e Bank# l / About 2 2 0 w e e k l y r e p o r t i n g member banks are r e p o r t i n g changes i n t h e i r l a r g e r l o a n s as to i n d u s t r y ; t h e s e banks h o l d n e a r l y 95 P e r c e n t o f t o t a l commercial and i n d u s t r i a l l o a n s of a l l w e e k l y r e p o r t i n g member banks and about 70 per c e n t o f t h o s e of a l l commercial banks. CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY B u s i n e s s o f Borrower (In m i l l i o n s of d o l l a r s ) 5 weeks 4 weeks 4 weeks ended ended ended J u l y 2 5 , 1951 June 2 5 , 1 9 5 2 J u l y 3 0 , 1952 M a n u f a c t u r i n g and m i n i n g : F o o d , l i q u o r , and t o b a c c o T e x t i l e s , a p p a r e l , and l e a t h e r M e t a l s and m e t a l p r o d u c t s ( i n c l u d i n g m a c h i n e r y and t r a n s p o r t a t i o n e q u i p m e n t ) P e t r o l e u m , c o a l , c h e m i c a l s , and rubber O t h e r m a n u f a c t u r i n g and m i n i n g 12 months ended J u l y 3 0 , 1952 - 23.8 + 20.4 - 34.9 + 2.1 -128.4 + 13.6 + - -108.7 + 29.0 + 5.5 + 92.7 + 43.7 + 15.8 + 78.0 •1 + 22.3 +1,797.5 + 330.4 + 200.3 Trade -*• w h o l e s a l e and r e t a i l - 32.3 + 5.2 - 98.3 - Commodity d e a l e r s + 58.9 - 53.1 - 34.8 + 181.6 S a l e s f i n a n c e companies - 32.3 + 69.8 - 55.8 - 163.9 Public u t i l i t i e s (including transportation) -164.9 + 58.8 + 38.3 + 145.6 Construction + 5.8 + 15.1 + - 74.2 A l l other types of b u s i n e s s + 53.2 + 34.2 - 20.4 + 82.3 N e t change i n c l a s s i f i e d l o a n s ! / -189.2 +249.4 -185.3 +2,219.2 U n c l a s s i f i e d changes - n e t - 13.8 + 4.6 - 76.7 - N e t change i n c o m m e r c i a l , i n d u s t r i a l , and agricultural loans -203.0 +254.0 -262.0 +1,623.0 1 / S e e f o o t n o t e on p r e c e d i n g t a b l e r e g a r d i n g c u r r e n t c o v e r a g e . .3 169.3 426.7 23.0 596.2
@FedFRASER