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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) December 2, 1953 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Repayments by p r a c t i c a l l y a l l business c l a s s i f i c a t i o n s r e s u l t e d i n a decrease of $>l60 m i l l i o n i n commercial, i n d u s t r i a l , and a g r i c u l t u r a l loans a t weekly r e p o r t i n g member banks during the week ended November 25. This was the l a r g e s t weekly decrease i n these loans since September 23. The p r i n c i p a l decreases were $56 m i l l i o n i n u n c l a s s i f i e d l o a n s , 330 m i l l i o n i n loans to "other" types of b u s i n e s s , $28 m i l l i o n to s a l e s finance companies, $21 m i l l i o n to manufacturers of metals and metal products, and $16 m i l l i o n to manufacturers of t e x t i l e s , a p p a r e l , and l e a t h e r p r o d u c t s . A decrease of $5 m i l l i o n i n loans to manufacturers of food, l i q u o r , and tobacco products followed s i x t e e n consecutive weeks of i n c r e a s e s . There was only a nominal decrease i n loans to the wholesale and r e t a i l t r a d e , but i t was the f i r s t weekly decrease reported by t h i s business category since August 26. Commodity d e a l e r s were the only business group r e p o r t i n g a net i n crease in loans during the week; i t amounted to $16 m i l l i o n . Changes i n l o a n s during the week and since mid-year a r e shown below; the t h i r d column shows the changes during the comparable p e r i o d l a s t y e a r ; Business of Borrower Manufacturing and mining: Food, l i q u o r , and tobacco T e x t i l e s , a p p a r e l , and l e a t h e r Metals and metal products Petroleum, c o a l , chemicals, & rubber Other manufacturing and mining +686 - 7 - 30 +20U + 70 - h +I1I0 - 66 -259 + 57 - 17 + - 1 16 28 11 U 30 +186 +325 -308 - 1 - 1 + 65 +227 +660 +138 - 68 + 23 +129 C l a s s i f i e d changes - net U n c l a s s i f i e d changes - net -10U - 56 +392 + 28 +2,029 + 63 Net change i n commercial, indust r i a l , and a g r i c u l t u r a l loans -160 +120 +2,092 Trade — wholesale and r e t a i l Commodity d e a l e r s Sales f i n a n c e companies Public u t i l i t i e s & t r a n s p o r t a t i o n Construction Other types of business 2/ Week Cumulative since mid-year ended , June 2U,. Corresponding November 25— 1953 W p e r i o d , 1952 (In millions of d o l l a r s ) - 5 - 16 - 21 *»-* Preliminary; see f o o t n o t e on attached t a b l e . 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, NOVEMBER 2 5 , 1953 Business of Borrower M a n u f a c t u r i n g and minings Food, l i q u o r , and t o b a c c o T e x t i l e s , a p p a r e l , and l e a t h e r M e t a l s and m e t a l p r o d u c t s ( i n c l u d i n g machinery & t r a n s p o r t a t i o n equipment) P e t r o l e u m , c o a l , c h e m i c a l s , and rubber Other m a n u f a c t u r i n g and mining Tradej Wholesale Retail A l l Dis-v t r i c t s 2 / Bcstou New York P h i l a - Cleved e l p h i a land - -21,2 - 3.5 L ( 5 ) *5> -I3*h - 5.5 + 1.6 - 1.0 + - - - 2.7 - .2 .7 + 1.3 - .3 .9 + .1 - .2 .6 .8 +1.5 - .3 .5 .It — 6.8 + 2.8 .2 + + .1 .7 + 1.3 + .8 + 1.2 +1.1 - .7 .3 + .2 + 3*h - .2 - .U + .7 - 1.2 + — mm .3 3.3 + .2 .7 + 3.6 —2,6 .6 - 3.3 - — + .1 - 7.1* + .5 .3 - 1 . 6 + .8 - .5 + .5 - 2.2 + — *1 .2 + 5.5 -1,8 - .3 — 6*0 — . 8 + .7 - 3.2 - 3,2 - 2.9 - 2.5 + - Public u t i l i t i e s -10.9 — - 8.6 + .1 + 1.0 + 1.2 + .7 - .8 + .1 + .3 + + .1 - 1.9 .U - 1.7 1.7 - .7 Construction - h*3 - .6 - A l l o t h e r t y p e s of b u s i n e s s -30.3 + .2 -22.8 + .2 - — it* o -56,9 + 2,3 -10,6 — + 2.1 -15.9 - M -27.1 - 1.3 - 8.U + 2,0 - 2.1 - 8.0 -81.0 + 1.0 -19.0 + 2*0 — -160.0 + 1.0 - 1.2 + 1.1* Net change i n commercial, i n d u s t r i a l , and a g r i c u l t u r a l l o a n s .1 + 2.2 - -56.3 + —— - -28.0 U n c l a s s i f i e d changes — n e t .1 .2 S a l e s f i n a n c e companies -103.7 + 1.2 .1 .8 Net change i n c l a s s i f i e d l o a n s j / - - + + .9 + 2.6 - - +16,0 (including t r a n s p o r t a t i o n ) .1 .1 .3 .1 *9 Commodity d e a l e r s 7.0 San Fran-, S t , Minne- Kansas Louis a p o l i s C i t y D a l l a s c i s o o .£/ A t l a n t a Chicago ( I n m i l l i o n s of d o l l a r s ) . - 5.1 -15.6 Richmond .3 - .2 —— - .3 #3 —— —— .3 - Jul - 1.3 .k (+ ( \ ) *) + - ,8 .7 + .2 - .3 ,6 - - 2.7 + .8 + 6.0 - .1 + 1.1 — 1.6 + - 5.0 - .3 .7 .2 — - 1 . 1 - .3 1.2 - .1 - .7 - .7 - - i,h - 8.5 - 1.2 + *6 -10*2 -11,1 + 5.4 - 2.5 + .2 + L.L -11.8 -27.0 + U.o -11.0 - 1 . 0 + 5.0 -22.0 - — p / P r e l i m i n a r y * f i n a l t o t a l s w i l l appear i n t h e F . R . B u l l e t i n and San F r a n c i s c o D i s t r i c t f i n a l f i g u r e s appear i n a r e l e a s e of t h e Reserve Bank, l / About 220 weekly r e p o r t i n g member banks a r e r e p o r t i n g changes i n t h e i r l a r g e r l o a n s as t o i n d u s t r y ; t h e s e banks h o l d over $0 per c e n t of t o t a l commercial and i n d u s t r i a l l o a n s of a l l weekly r e p o r t i n g member banks and n e a r l y JO per c e n t of t h o s e of a l l commercial banks*
@FedFRASER