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V GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) December 10, 1952 C H A J G ^ I N COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Increases of $51 million in loans to manufacturers of food, liquor, and tobacco products, $38 million to the wholesale and retail trade, million to sales finance companies, and $12 million to commodity dealers were offset in part by decreases of $15 million in loans to manufacturers of metals and metal products and $11 million to public utilities, wi result that commercial, industrial, and agricultural loans at weekly reporting member banks increased $73 million during the week ended J)ecember_j^ The increase in loans to the wholesale and retail trade was the second largest weekly increase this year in this business category nearly two-thirds of it was to wholesalers; it was reflected in most districts , An increase in loans to commodity dealers of $22 million in the New York District was offset in part by a decrease of $12 million in e Chicago District. Most of the decrease in loans to manufacturers of metal and metal products occurred in the New York District« Changes in loans during the week and since mid-year were as follows: Business of Borrower Week ended December 3£ V Since , June 252' (In millions of dollars) Manufacturing and minings Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, & rubber Other manufacturing and mining + 51 - U - 15 + 3 - 5 +737 - 11 - U5 +207 + 65 Trade — wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction Other types of business + + + + h +265 +671 +169 - 79 + 22 +133 Classified changes - net Unclassified changes - net +io5 - 32 +2,13k + 31 Net change in commercial, industrial, and agricultural loans + 73 +2,165 pj 38 12 31 11 1 preliminary; see footnote on attached table. In addition to the weekly table, a monthly table is attached showing changes during November compared with the preceding month, with November 1951, and with the past twelve months. Except for continued repayments by manufacturers and producers of dealers increased by smaller amounts in November than in October, indicating that the peak of the crop movement may be over. Loans to manufacturers of metals and metal products and to the wholesale and retail trade increased at a somewhat slower rate than in the previous month. Loans to sales finance companies increased during November in contrast to a small decline in October and in November 1951. Loans to public utilities also increased in November in contrast to a decrease in October and an increase of a nominal amount in November 1951. CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, DECEMBER 3, 1952 H. 12 (a ) (in millions of dollars ) Business of Borrower Manufacturing and miningj Food, liquor, and tobacce Textiles, apparel, and leather Metals and metal products (including machinery & transportation equipment) Petroleum, coal, chemicals, and rubber Other, manufacturing and mining All Dis-, tricts P/ Boston New York Phila- Clevedelphia land Richmond Atlanta Chicago .5 .5 +10.ii - .1 + - - .7 .2 .2 - 1,1 - .1 - .2 + + .1 - .1 +2*1 + 1.8 .it + 2.9 - 1.5 * .2 .1 + + 1.5 -12.it + .5 + + ii.O + .8 - 1.8 + 5.2 + 1.9 +55.9 - 5.8 - 1.6 .7 + 5.5 - .1 + -lit. 9 + 5.U - it. 7 + 1.1+ - .6 - 5.2 - 7.8 + 2.9 + 1.5 - 5.8 - 5.6 •»- *2 - .2 + 1.8 - 1.5 - + +18*7 + 1.3 + 9. it + 1*1 - .5 *5 .5 .7 — .2 .1 .1 Seta11 (+57.8 ] .2 .3 Commodity dealers +11.6 + 2.6 +21.7 + 1.1 - Sales finance companies +51.2 + +26.0 - 2.2 +1.0 Public utilities (including transportation) -10*6 + * 7 + 1.8 - .1 - 2.1 Construction - - All other types of business + ii.O Net change in classified loansV' *5 +10lu8 ,9 .9 + 1.5 - l+l + .9 + .it -- + .9 .1 .6 - .8 + - +51.0 - 5.5 Tradej --Wholesale San Fran-, St. Minne- Kansas Louis apolis City Dallas cisou P/ + 1.1 .1 .5 + — + — — - 2.5 + .1 - .It - It. 8 - .7 - 2.6 + 7»lt - *2 + - *8 .5 + .2 .1 .5 .2 .2 - .1 1,0 - 2.2 .5 + .1 c-) + .6 - 5.2 + 5.1 + + ( 1 7 .7 .9 - .1 - .2 -12.0 + .2 + .9 - ,2 .5 - ,5 + ,2 + .2 + .8 .It - ,6 - .It + 1.2 + ,6 - .7 - .2 + .5 - .2 + 1.2 + 2.8 + 5.7 + 5.1t + - .it + 6.2 1.9 +5.0 + 7.0 - 6.0 + 7.1* + 1 Q M - 7.8 + 2,h + .5 Unclassified changes - net -51.8 - .it -16.1 - 5.2 - 6* it - Net change in commercial, industrial, and agricultural loans +75*0 + 7.0 +88.0 -11.0 -it. 0 .8 .7 +2,0 +5*0 - •5 + l.lt + 1.2 — 1.0 .8 .8 1*. 1 - .5 - 6* it - 5.0 -5.5 + l.lt - lt»o - 6.0 - 5.0 - 7.0 p / Preliminary; final totals will appear in the F.R. Bulletin and final San Francisco District 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 oxrer 90 per cent of ~~ total commercial and industrial loans of all weekly reporting member banks and about JO 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 (In millions of dollars) it weeks ^ weeks 4 weeks ended ended ended November 26, 1952 October 29, 1952 November 28, 1951 I'd months ended November 26, 1952 +156.1 - 17,0 +210.1* - 54.3 +162,0 - 93.3 + 67.7 -130.6 + 66.7 + 16.5 +116.5 + 2.7 +111.4 + 12.3 + 36.2 + 21.2 + 28.3 +1,300.9 +415.7 +183*0 + 91.1 +121.6 + 30,4 + 67*4 Commodity dealers +112.1 +261.6 +169.4 +184.3 Sales finance companies + 65.3 - - 4.3 + 58.5 Public utilities (including transportation) + 68.5 - 59.7 + 2.6 - 39.9 Construction - 2,9 + 3.9 - 20.5 + 24,0 All other types of business + 21.3 - 8.0 9.6 +153.2 Net change in classified loans*/ +610.4 +665# 1 +402.7 +2,284.2 Unclassified changes - net - 8.4 + 2.9 -108.7 -273.2 Net change in commercial, industrial, and agricultural loans +602.0 +668.0 +294.0 +2,011.0 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 Trade — l/ wholesale and retail See footnote on preceding table regarding current coverage. .3
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