The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) February l8, 1959 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY The net increase in commercial and industrial loans at weekly reporting member banks during the week ended February 11 amounted to $4 million. The principal net increases were $55 million in loans to manufacturers of metals and metal products, $26 million to manufacturers of textiles, apparel, and leather products, $24 million to "other" types of business concerns, and $15 million to the wholesale and retail trade. Offsetting net decreases were $54 million in loans to sales finance companies, $51 million to public utilities, $43 million to commodity dealers, and $22 million to manufacturers of food, liquor, and tobacco products. Changes in loans during the week and since year-end are shown below; the third column shows the changes during the comparable period last year. Business of Borrower Week ended Feb. 11£/ Cumulative since year-end Dec. 31, 1957 Dec. 31, 1950 to Feb. 12, 1958 Feb. 11, 1959-/ (in millions of dollars) Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, and rubber Other manufacturing and mining +12 + 9 Trade—wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business +15 -43 -54 -51 +10 +24 - 86 - 123 405 12 94 - 149 22 - Ill Classified changes - net Unclassified changes - net -19 +23 -1,003 - 223 -1,617 - 295 Net change in commercial and industrial loans + 4 -1,226 -1,912 -22 +26 +55 2/ Preliminary; see footnote on attached table, - 200 + 36 + 137 62 11 - - 183 - 275 + 64 58 - 15 17 - 233 - Ill - 688 CHANGES* IN- COMMERCIAL AM> INDUSTRIAL LOANS OF A SAMPLE • OF WEEKLY REPORTING-. MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, FEBRUARY 11, 1959 H.12(a) Phila- Cleve- Rich- Atlanta Chicago St. Minne- Kansas Dallas San FranAll Dis- Boston New cisco £/ Louis apolis City York delphia land mond tricts P / (In millions of dollars) 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 -21.9 425.7 +5^.9 +12.1 + 9.3 Trade: Wholesale Retail + .8 +4.3 + .1 - 7.6 + 7.6 -2.2 +1.2 - -5 +3 • 1 + .7 +1.2 +3.9 + .3 + .2 +4.8 + .2 + •1 +25.5 + 6.8 +1.0 + 2.5 + .7 +1.0 - l.l + 3.0 + .8 - 1.1 + .6 -2.2 + 5-3 +1.2 + .1 + .1 + .8 - .7 - 2.9 + .7 +14.4 - 3.3 + .1 +1.7 + .6 + .7 + .6 +3.5 - .6 + 2.6 + .6 + .5 - .5 +1.0 !• -=! + 2.4 -2.8 - 3.7 - 3.8 -2.2 - .7 + .7 + 1.2 + .8 + +1.4 + .2 + .2 + .1 - .1 + 1.0 + .6 - .1 + 2.3 - .1 - .9 + .5 + .3 - .7 + .8 - .1 -7.9 -1.3 -2.8 +2.7 +1.7 .4 - .2 - .1 + 1.8 + 2.5 Commodity dealers -43.2 -1.0 -21.1 - -5 - .2 -1.1 - Sales finance companies -53.9 -l • 6 -38.3 -1.6 -5.1 -1.4 + 3.0 -10.2 +1.4 +1.2 - .3 Public utilities (including transportation) -51.4 +1.2 -36.0 + .6 -4.5 -l.l - 1.8 - 5-7 -1.0 -- - .1 - .2 - 2.8 Construction +10.2 -1.8 + 1.4 + .2 +1.3 + .1 + 3-8 + .8 + .1 + .8 + .1 +1.4 + 2.0 All other types of business +23.7 -2.2 +17.7 +1.7 -3.2 - .1 - 3.3 +11.1 - .1 - .6 - .3 + 3.0 Net change in classified loans l/ -19.4 +2.6 -39-6 +7.9 - .2 -1.2 + 3.7 +10.8 -7.2 - .2 -2.5 +2.0 + 4.5 Unclassified changes - net +23.4 + .4 + 5.6 - .9 +3.2 +3.2 -10.7 + 5.2 + .2 +1.2 - .5 Net change in commercial and industrial loans + 4.0 +3.0 -34.0 +7 • 0 +3.0 +2.0 - 7-0 +16.0 -7.0 +1.0 -3.0 JJ f l i t . JL J - i l i J - l l C l X y y -L x l l c t J_ UV vCL J_ D W -L J_ J . JT * .7 , e - i - i r i 1_ , „ — - - — - +2.0 - 1.0 +16.5 +21.0 . _p T/ 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. ft
@FedFRASER