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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) H.12 August 6, 1958 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY A net decrease of $72 million in loans to manufacturers of metals and metal products was the principal factor in the decrease of $ll8 million in commercial and industrial loans at weekly reporting member banks during the week ended July 30. Other relatively large net decreases during the week were $4l million in loans to sales finance companies, $11 million each to manufacturers of textiles, apparel, and leather products, and to "other" manufacturing and mining concerns. The principal offsetting net increases were $26 million in loans to commodity dealers and $15 million to "other" types of business. 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, and rubber Other manufacturing and mining Week ended y £/ July 30 Cumulative since mid-year June 26, 1957 June 25, 195ft tO -117 11 72 y tO July 30, 1958B/ July 31, 1957 (In millions of dollars) - 22 -356 . 88 - 83 + 21 -229 4 11 • 11 - 27 + 10 Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business - 5 +26 - 4l - 5 + 7 + 15 - l4 +19 -115 -126 + 9 + 28 - 42 +42 -280 - 83 + 9 - 3 Classified changes - net Unclassified changes - net -103 - 15 -793 - 62 -665 -122 Net change in commercial and industrial loans -118 -855 -787 g/ Preliminary; see footnote on attached table. -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, JULY 30, 1958 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 Dis- Boston tricts P/ - •1 - 11.2 - 71.6 - 4.4 - 11.3 ( -2.0 New York Phila- Clevedelphia land +1.7 Rich- Atlanta Chicago St. mond Louis + .8 - 3.3 - 13.8 -1.6 + .6 - .2 + .8 - .4 + .1 - .7 + 3.5 + .4 + .9 - 62.0 - 2.6 -1.1 -2.1 - .1 -7.7 -2.0 - -5 - .1 - .5 - .9 - .3 + .2 - .4 - 4.0 + .9 —1.6 - 4.6 + 2.0 - — -1.1 + .4 +1.6 + .7 + .1 - .2 - .5 + .8 + + +1.3 + .1 -1.3 + .4 - .6 - .1 + .1 +1.2 -1.1 - .4 + 1.3 + 1.5 - 1.6 — - .6 .8 5.3 -1.6 + 3.1 + .1 + .8 — - .4 +.4 - .6 + .5 +1.9 + .4 - .3 -.6 - .9 + .1 - Commodity dealers + 25.5 +1.3 + 14.6 -2.9 +2.5 -.4 -.2 +5.2 +3.3 +1.4 - .5 + .6 + .6 Sales finance companies - 40.8 +6.8 - 23.2 -2.9 - .1 -3.2 — - 3.2 -2.8 + .6 -1.8 - .9 -10.1 Public utilities (including transportation) - +1.0 - 7-5 + .9 + .7 -- -- - -1.1 - .2 -1.0 - .1 + 2.7 Construction + 6.6 -1.3 - 1-5 +1.1 - .6 -- -.6 +2.4 +.1 -- +1.1 +2.0 + 3.9 All other types of business + 14.5 -2.2 - 3.7 +1.1 +4.4 + .3 - .9 + 4.0 + .3 - .1 +1.5 +3.6 + 6.2 Net change in classified loans l/ -103.2 +2.0 -102.5 -6.8 - .9 -4.8 -3.0 + 7-7 + .8 +2.9 -1.3 +6.0 - 3.3 Unclassified changes - net - 14.8 -2.0 - .5 -1.2 -1.1 -2.2 -1.0 + 5.3 - .8 -2.9 + .3 +1.0 - 9.7 Net change in commercial and industrial loans -118.0 -103.0 -8.0 -2.0 -7.0 -4.0 +13.0 -l.o +7.0 -13.0 (- 5-1 - .5 -.2 " Minne- Kansas San FranDallas apoliSj City cisco g/ -l.i .5 (. A ) - 1.4 ( + ' 8 ) - 7.8 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 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 commcrcial banks.
