The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
BOARD OF GOVERNORS OF TEE FEDERAL RESERVE SYSTEM H. 12 (For Immediate Release) August 13, 1958 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY The net increase in commercial and industrial loans at weekly reporting member banks during the week ended August 6 amounted to $55 million. The principal net increases were $68 million in loans to sales finance companies, $56 million to commodity dealers, and $53 million to "other" types of business. The principal offsetting net decreases were $80 million in loans to manufacturers of metals and metal products and $31 million to public utilities. Changes in loans during the week and since mid-year are shown below; the third column shows the changes during the comparable period last year. Business of Borrower Week ended . Aug. 6B/ Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, and rubber Other manufacturing and mining + 7 - 7 Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business Classified changes - net Unclassified changes - net Cumulative since mid-year June 25, 1958 June 26, 1957 — tO +11 -106 + 2 • 20 -80 y tO Aug. 6, 19582/ Aug. 7, 1957 (In millions of dollars) - 65 + 33 -438 -278 • 18 • 78 - 3 + 13 + 4 +56 +68 -31 - 3 +53 - 10 +76 - 47 -156 + 7 + 82 - 33 +43 -300 - 99 +10 + 11 +80 -25 -709 - 92 -667 -108 +55 -800 -775 Net change in commercial and industrial loans p/ Preliminary; see footnote on attached table. In addition to the weekly table, a monthly table is attached showing changes during July compared with the preceding month and with July 1957, and also showing changes during the past twelve months. All of the major changes during July were in the same direction as in July 1957• The decrease in loans to manufacturers of metals and metal products was the largest monthly decrease reported in this category since the series was started in 1951, and the decrease in loans to public utilities was the largest since October 1954. CHARGES IN COMMERCIAL AMD INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING ME14BER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, AUGUST 6, 1958 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 All Dis- . New Phila- Cleve- Richtricts E/ Boston York delphia land mond Atlanta Chicago (In millions of dollars) + 2.1 +16.1 +10.7 - .6 -1.6 + 1.6 - . 3 - 4.8 + 2.0 - .2 + 2.3 - .8 - 2.2 .7 - .9 +2.3 - -80.I + 7.2 - 6.8 + .2 -59.7 3.4 + 2.7 + 1.0 + «3 -3-5 +1.0 - .7 -3.0 - -3 + .2 + - .1 + .1 - 1.2 St. Minne- Kansas San FranLouis apolis City Dallas cisco £/ +1.4 - .7 - .1 + .1 -1.1 + .4 - .1 + .2 - 1.9 + 2.2 + .1 + .2 +1.1 -2.0 -1.6 - .9 + 4.3 - 1.4 - 1.6 - -7 + .3 + -3 -15.6 + 2.5 - 6.4 -1.8 4- , 2 +1.7 + .3 + .9 +1.8 + 1.8 + .1 +1.0 + .1 - .7 + .4 +1.4 + .1 r1-1] + 3.0 +1.4 — — + 3.7 - -5 + .2 - 3.7 + 1.6 -l.l + .1 -1.6 Commodity dealers +56.0 + 1.3 +17.1 +1-5 +2.9 + 3-7 +2.8 + 4.0 +8.6 +2.7 +2.8 +7.0 +1.6 Sales finance companies +67.7 + 8.7 +67.1 - .4 -1.5 + .6 -1.7 + 9.6 -2.0 +1.1 -1.7 -4.9 - 7.2 Public utilities (including transportation) -30.5 - .5 - 9.5 + .8 + 2.1 - .2 -15.0 - .4 -2.4 -1.1 - .2 -1.4 Construction - 3.3 + .9 + 1.0 -1.8 - .3 - .1 - .5 - 1.6 - .1 +2.1 - .5 -2.3 - All other types of business +53.1 - 1.5 +50.4 +2.2 +6.2 + 3.4 -1.6 - 8.9 +1.4 - .2 + .3 +5.3 - 3.9 Net change in classified loans l/ +79-7 +10.7 +86.4 - .3 -1.8 +12.4 - .6 -36.5 +7-7 +5.9 +2.0 -1.2 - 5.0 Unclassified changes - net -24.7 -19.7 -17.4 + •3 -2.2 - 2.4 - .4 - 2.5 - -7 +2.1 +2.0 -1.8 +18,0 Net change in commercial and industrial loans +55.0 - 9-0 +69.0 -4.0 +10.0 -1.0 -39.0 +7.0 +8.0 +4.0 -3.0 +13.0 — 1 ro Trade: Wholesale Retail .1 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) CHARGES IN COMMERCIAL AM) INDUSTRIAL LOAKS OF A SAMPLE OF WEEKLY REPORTING MEMBER EA3KS 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 5 weeks ended July 30, 1958 5 weeks 4 weeks ended ended June 25> 1958 July 31, 1957 (In millions of dollars) 12 months ended July 30, 1958 -116.4 - 22.2 + 6.1 - 82.6 + 20.6 - 361.2 118.2 -357.9 - 84.7 - ll.l +135.9 + 31.1 + 56.7 -228.5 - 27.2 + 9.4 - 479.3 47.2 24.1 Trade — wholesale and retail - 13.9 + 11.4 - 41.6 - 144.7 Commodity dealers + 19.6 - 5.0 + 41.6 + 115.2 Sales finance companies -114.5 + 57.5 -280.2 - 795.7 Public utilities (including transportation) -125.7 + 72.5 - 83.4 36.8 Construction + 10.1 + 29.5 + 9.0 + 8.1 All other types of business + 28.5 + 77.9 - 2.5 + 157.2 Net change in classified loans l/ -788.2 +473.6 -665.4 -1,726.7 Unclassified changes - net - 66.8 + 64.4 -121.6 - Net change in commercial and industrial loans -855.0 +538.0 -787.0 -2,309.0 1/ See footnote on preceding table regarding current coverage. 582.3
@FedFRASER