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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) December 5, 1956 CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS BY INDUSTRY Net decreases of $39 million in loans to the wholesale and retail trade, $24 million to manufacturers of textiles, apparel, and leather products, $20 million to the construction industry, and $59 million to unclassified borrowers were partly offset by increases of $58 million in loans to sales finance companies, $23 million to commodity dealers, and $11 million to manufacturers of food, liquor, and tobacco products. The net decrease in commercial and industrial loans at weekly reporting member banks during the week ended November 28 was $45 million. The decrease in loans to the construction industry was the largest weekly decrease in this business category since the series was started in 1951; it was reflected in all but the Cleveland District. 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 Cumulative since mid-year Week June 27, 1956 June 29, 1955 ended , to . to Nov. 2 8 ^ Nov. 28, 1956E/ Nov. 30, 1955 (In millions of dollars) +11 -24 + 8 + 3 - 8 655 8 224 + 485 4- 81 + + + + + 4i8 70 79 153 55 Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business -39 +23 +58 +10 -20 - 8 + + 4 256 636 416 214 57 152 + + + + + + 371 475 223 58 101 313 Classified changes - net Unclassified changes - net +14 -59 +1,775 - 236 +2,316 1/ - 121 Net change in commercial and industrial loans -^5 +1,539 1/ +2,195 + - - + - p/ Preliminary; see footnote on attached table. 1/ Prior to 1956, unclassified changes and total net change included changes in agricultural loans. Thesel955 figures do not include the increase of $318 million resulting from the reclassification of loans on October 5. CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, NOVEMBER 28, 195& H.12(a) 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 All DisBoston tricts £/ New York St. Phila- Cleve- RichAtlanta Chicago Louis mond delphia land (In millions of dollars) - .1 + .5 +11.4 -23.6 - .4 -3.0 - 2.4 - 9.6 -1.4 -1.6 -1.0 + 7-7 + 6.1 + 3.2 - 5.0 - -5 - .1 + .1 +5.2 +1.1 + .2 - 7.6 -1.7 - -9 -1.3 + .4 + .4 - -5 Trade: Wholesale Retail -39.4 +1.3 + .1 + .2 - -.3 + -3 -1.3 +1.1 + .7 - .1 Commodity dealers +22.6 +2.3 + 2.6 +2.3 - .3 Sales finance companies +57 '9 +1.9 +66.9 +1.6 Public utilities (including transportation) +10.1 +3.0 - 1.9 - .4 Construction -20.0 - .1 - .1 -2.0 All other types of business - 7.8 - .1 + 9.3 + -5 Net change in classified loans l/ +13.9 +1.1 469.O Unclassified changes - net -58.9 -2.1 Net change in commercial and industrial loans -45.0 -1.0 + 2.6 - .8 - -5 + .6 + .3 + -7 - 7.4 W Minne- Kansas San Fr&i Dallas cisco apolis City - -5 - .4 - ,3 + 2.0 + 2.8 + .1 -2.4 - .1 - .3 - .1 - .2 3.0 .1 +11.8 - 1.6 .1 5.4 .6 - 1.2 + 1.4 + .8 - 2.3 - .1 +1.1 -11.2 - .3 + .7 + 2.8 - .6 - -5 - .7 ( - .1 ( + .6 + .4 + .6 +6.0 - .8 + .3 + 4.2 + 4.4 -1.4 + .2 -1.8 - 4.1 +1.1 +2.2 - .3 - .7 - 7-7 -1.3 + .1 + 6.4 + .6 +1.3 +.9 + •1 + 1*3 - .2 q) *9) +2.8 -35.7 - .1 - .7 - 5-4 -1.6 - .6 -1.1 - 4.0 - 4.3 - .4 - .1 +1.8 - 6.1 - .3 - .2 -1.2 -10.3 - -2.5 +2.7 +1.6 +1.8 -21.2 +4.0 -2.4 + .3 -11.8 -28.7 -21.0 -2.5 -6.7 -4.6 + .2 — 2.8 —— —2.6 + .7 - 1.2 -16.3 +48.0 -5.0 -4.0 -3.0 +2.0 -24.0 +4.0 -5.0 +1.0 -13.0 -45.0 -7 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 loaos of all weekly reporting member banks and nearly "JO per cent of those of all commercial oanks.
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