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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) February 3, 1954 CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS BY INDUSTRY Net repayments were made by practically all industrial classifications, resulting in a $184 million decrease in commercial, industrial, and agricultural loans at weekly reporting member banks during the week ended January 27. The larger repayments were $58 million by sale finance companies, $51 million by manufacturers of petroleum, coal, chemicals, and rubber products, and $1$ million by the wholesale and retail trade. The decreases in loans by manufacturers and producers of petroleum, coal, chemicals, and rubber products and by sales finance companies were the fourth consecutive weekly decreases in these business categories. Most of the trade decrease occurred in the Boston and New York districts but six other districts showed smaller decreases. There was a decrease in loans to manufacturers of food, liquor, and tobacco products amounting to $11 million, and decreases of $9 million each in loans to "other" manufacturers and to the construction industry. The only business category showing a net increase during the week was a $9 million increase in loans to manufacturers of textiles, apparel, and leather products; this was the third weekly increase in this business category, and it was reflected in all but the Richmond 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 Trade -- wholesale and retail Commodity dealers Sales finance companies Public utilities & transportation Construction Other types of business Classified changes - net Unclassified changes - net Net change in commercial, industrial, and agricultural loans Week Cumulative since mid-year ended June 24, Corresponding January 27E/ 1953 £/ period, 1952 (in millions of dollars) 11 9 5 51 9 +409 - 88 -504 - 2 - 85 +722 - 34 + 91 +249 + 26 - 15 - 3 - 58 - 7 - 9 - 8 -168 - 16 -104 +345 -289 + 3 - 34 + 58 -293 - 3 + 90 +572 +438 - 32 + 9 +145 +2,275 -219 -184 -295 +2,056 + - 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, JANUARY 27, 1954 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 Trade: Wholesale Retail St. Minne- Kansas New Phila- Cleve- RichSan FranAll DisAtlanta Chicago Dallas Boston mond Louis apolis City cisco PZ York delphia land tricts 2/ (In millions of dollars) -10.9 + 9-1 - 2.1 + 2.2 - 1.1 - 1.1 - 1.4 + 1.4 + 1.8 + .2 + .2 - .2 - 1.2 + 1.7 + - 5-2 -51.4 - 9.4 + + - .9 - 6.3 - 1.4 - 3.2 + .8 .4 -49.5 - .3 - 1.8 + 1.0 .5 - 3.1 - .9 - .6 + .6 + 2.0 - .3 - .8 + .9 - -3 + - 2.2 + + + - - ( Commodity dealers Sales finance companies Public utilities (including transportation) - 2.9 - .3 - .9 - .2 + - 5-0 - 5.3 - .1 + .6 + 6.5 - 1.1 - -58.4 - 6.9 - 1.4 -21.4 - 2.6 - 7-2 - 2.1 + .1 + 5.6 + 1.1 + 1.6 + .2 Construction - 9.2 + All other types of business - 7.9 - 1.1 - 1.6 + 2.0 - Net change in classified loansi/ Unclassified changes - net Net change in commercial, industrial, and agricultural loans ,) (-14.6) -167.7 -16.3 -184.0 .1 - 1.9 - 1.2 - .1 + 1.4 .7 - .3 .1 - 1.4 .1 + -3 -5 - 2.4 - 6.9 -73.9 - 5.6 -13.4 - 3-5 - 1.1 -17.1 - .4 - 2.6 - 2.5 - 8.0 -91.0 - 6.0 -16.0 - 6.0 .3 .5 -9 .4 - .3 + -9 + 1.2 + .2 .2 + -9 .1 + .4 .2 - 4.4 + 1.4 -5 + .2 .1 - 1.2 + .3 .7 - .1 .6 .3 + 1.5 + .4 - 1-9 " .5 - 1.1 + .3 - .2 ( J - .5 1) - .2 - . 1 - -3 r 1.6 -: -7 - 7.3 - 3.0 - 1.8 + 2.1 + 4.2 — - - - 3.5 -- -10.7 - 2.8 -14.1 + 1.0 - 1-7 - 2.5 - 3.4 - .1 - 1.6 + .2 + - .7 -1.0 - 2.9 - 1.8 .6 .7 .1 - .3 + .6 -30.3 -10.2 - 3.7 - 6.6 - 4.2 - 7.6 + - 6.7 + 1.2 + + .2 +10.6 - 4.0 + 3.0 -5 -9 .8 - 1.0 - - - 1.0 - 2.2 + .7 + .6 -37.0 - 9.0 - 3.0 - 6.0 - 2.4 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. . l/ -About 220 weekly reporting member banks are reporting changes in their larger loans as to industry; these banks hold over $0 per cent of total commercial and industrial loans of all weekly reporting member banks and nearly 70 per cent of those of all commercial banks.
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