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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) H.12 December VJ, 1958 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Net increases of $56 million in loans to sales finance companies, $4? million to manufacturers of food, liquor, and tobacco products, and $44 million to public utilities were the principal factors in the $126 million increase in commercial and industrial loans at weekly reporting member banks during the week ended December 10. The only large offsetting net decrease was $22 million in loans to manufacturers and producers of petroleum, coal, chemicals, and rubber products. 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 Dec. 10-&/ Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, and rubber Other manufacturing and mining Cumulative since mid-year June 25, 1958 June 26, 1957 Dec. 10, 19582/ Dee. 11, 1957 (In millions of dollars)" + 47 + 2 - 6 4581 -204 -561 +4oo -146 .495 - 22 — - 92 -112 + 98 -107 5 8 56 44 7 2 +266 +393 - 89 +108 + 51 +250 +243 +353 -568 + 67 - 40 - 59 Classified changes - net Unclassified changes - net +127 - 1 +591 7252 -256 -456 Net change in commercial and industrial loans +126 +339 -712 Trade—wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business + + + + + p/ Preliminary; see footnote on attached table, CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, DECEMBER 10, I958 Business of Borrower All Districts E/ Boston Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products (including machinery & transportation equipment) Petroleum, coal, chemi-cals, and rubber Other manufacturing and mining Trade: Wholesale Retail New York Phila- Cleve- RichSt. delphia land mond Atlanta Chicago Louis (In millions of dollars) 47.1 1.6 + 3.7 + .9 +33.2 - 1.0 - .3 - .3 +1.1 + .3 +1.0 + .2 6.0 22.4 .3 + 2.0 •9 - .5 -17.5 -21.8 + 2.4 +1.3 - .6 + .2 + .1 -1.2 - .4 -1.1 + 5.1 + 2.7 + .7 + 4.4 - 1.4 -l.l + 1.0 - 7.3 - + .8 .3 +10.6 + .2 - .7 .4 .6 + .4 + 7.4 - 3.7 - 1.7 - .4 + .9 - .7 - .4 + .7 - .6 - .7 - .8 +1.0 -1.2 +2.0 + .5 - 1.3 - .1 -2.4 + .3 + .3 - 1.1 - .5 + .6 mm • - #2 + .7 - .2 - .1 -1.0 + .7 - .9 - .6 - .4 - ,2 - .4 - .1 + .1 + .4 - .1 - .1 + .8 - *2 "1 - 1.3 + .9 + 7.6 + .1 + 1.4 - .4 + .5 (+ l.lj - 2.6 + 3.5 Commodity dealers - Sales finance companies + 55*6 + 6.7 +30.9 +7.8 + .2 +4.7 +2.6 +12.0 - .3 -1.7 -3.2 + .9 - 5.0 + 44.4 + +30.5 + .5 +5.4 -7.3 + .7 + 3.8 + .1 + .1 + .8 - .2 + 9.3 Construction + 7-4 + .8 - 4.0 + .6 + ,2 - .4 42.5 + 7.0 + .1 + .6 ** • 1 - .4 + All other types of business + 2.4 + 2.7 - 4.0 +1.3 —2.8 +1.7 -1.3 + .1 -1.4 -1*4 +2.2 Net change in classified loans l/ +126.6 +20.5 +44.4 -*9.9 +1.9 + .3 -*5.2 +33.8 -2.1 -7.2 -1.6 +10.5 +11.0 Unclassified changes - net - .6 + 5*5 - 2.4 -1.9 +2.1 -6.3 + .8 - 1.8 + .1 - .8 - .4 - »5 + 5*0 Net change in commercial and industrial loans +126.0 +26.0 +42.0 -*8,0 +4.0 -6.0 -*6.0 +32.0 -2.0 -8.0 -2.0 +10.0 +16.0 Public utilities (including transportation) 8.3 Minne- Kansas San Franapolis City Dallas cisco Bz .7 .5 + 5.3 e/ 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 commercial banks.
@FedFRASER