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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) H. 12 August 29, 1956 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Net increases of $79 million in loans to manufacturers and producers of petroleum, coal, chemicals, and rubber products, $31 million each to manufacturers of food, liquor, and tobacco products and to "other" manufacturing and mining, $29 million to sales finance companies, and $20 million to public utilities were the principal factors in the $147 million increase' in commercial and industrial loans at weekly reporting member banks during the week ended August 22. Partially offsetting decreases included $58 million in loans to manufacturers of metals and metal products and $11 million to the wholesale and retail trade. Loans to manufacturers of metals and metal products decreased for the eighth consecutive week; the current decrease was the largest weekly decline in this business category since the last week in May and was reflected in all but three districts. 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 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 Cumulative since mid-year June 27, 1956 June 29, 1955 Week to . to ended _/ Aug. 22*-' Aug. 22, 19562/ Aug. 24, 1955 (in millions of dollars) + 31 + 4 - 58 + 79 + 31 11 + 7 + 29 + 20 + 9 - 27 + 79 -237 +146 - 24 +105 - 25 + 24 +127 + 52 - 13 +249 - 75 + 31 - 6 + 70 + 83 +180 + 66 2 +108 + 36 +165 Classified changes - net Unclassified changes - net +140 + 7 +382 - 47 1/-181 Net change in commercial and industrial loans +147 +335 1/+549 • +730 p/ 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 LOAES OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, AUGUST 22, 1956 H.12(a) Business of Borrower All Districts Pz Boston 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 New York St. Phila- Cleve- Richdelphia land mond Atlanta Chicago Louis (In millions of do Tars) 30.7 4.3 + + 7-0 4.4 + .5 - .3 57.7 79.4 30.8 Trade: Wholesale Retail + .2 - -5 -2.9 +2.5 27.2 + 52.8 + 22.0 -2.0 10 5 - .1 • + 1.2 + .1 +2.0 - -7 + 1.0 -1.8 + 2.7 -1.2 + .6 + .3 + .1 - - +1.4 + •1 + .1 - .1 - .2 - .7 + .4 - *7 -22.0 + 8.2 -5 +2.3 + «5 .7 -1.3 .3 + >5 + .7 - 1.9 - -5 - 1.6 + -I ( + l.l - .4 (-l.Oj + 1.0 +1.3 +2.9 +3.7 + .2 - .8 - .5 -6.9 + 5.4 -1.3 -3.0 - - .3 • 2.8 + 3.4 + 8.6 - .7 - 2.1 -l.i + 5*4 -1.6 + - ) - .2 + 6.9 Minne- Kansas San Franapolis City- Dallas cisco Pz - .2 + + .3 + 2.2 - .1 + .3 - — + •1 — + .4 + + +2.0 +3.7 +1.3 6.6 .4 1.9 + 2.4 - 1.2 - 1.6 - 5.8 Commodity dealers + 6.8 -1.6 + 14.0 Sales finance companies + 28.7 +5-7 + 16.6 +3 *3 + 6.5 + .9 +1.6 - 1.2 +1.3 - 1.6 + .3 -3.1 - 1.6 Public utilities (including transportation) + 20.1 +1.2 + 21.1 -1.1 + 1.5 +1.2 - .2 - 2.4 +1.4 - .1 - .1 - 2.4 Construction + 9.2 + .4 + 1.2 + .3 + + .1 +1.2 + 7-2 - .1 + .8 - .8 - .8 - .8 All other types of business - 2.2 + -5 — 9*1 +3.8 + 2.1 +.8 - .1 + 3.9 -3.3 + .7 8 zIlL + 4.8 Net change in classified loans l/ +139.6 +4.5 +106.1 A.7 +21.3 +7-2 +2.7 +1.2 -7.9 +9.1 -3.4 -4.0 - 1.9 Unclassified changes - net + -1.5 - .1 + .3 - 5-3 -2.2 + .3 + 1.8 - .1 + 1.9 - .6 —l.o 413.9 Net change in commercial and industrial loans +147.0 j +3.0 +16.O +5.0 +3.0 + 3.0 -8.0 •5.0 +12.0 7.4 +106.0 +5.0 «5 +11.0 -4.0 .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. 1/ About 210 weekly reporting member banks are reporting changes in their larger loans as to industry; these banks hold over 90 per cent of total commercial and industrial loans of all weekly reporting member banks and nearly JO per cent of those of all commercial banks.
