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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) February 4, 1959 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Net decreases of $42 million in loans to public utilities, $30 million to manufacturers of food, liquor, and tobacco products, $19 million to other^ types of business concerns, $l8 million to sales finance companies, and $4-3 million to unclassified borrowers were the principal factors in the $l4l million decrease in commercial and industrial loans at weekly reporting member banks during the week ended January 28. The only large offsetting net increase was $l8 million in loans to manufacturers of metals and metal 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 , Jan. 282/ Cumulative since mid-year June 26, 1957 June 25, 1958 to to , & / Jan. 29, 1958 Jan. 28, 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 - 30 + 5 + 18 +373 -244 -393 + 104 - 134 - 540 - 4 + 2 - 85 -134 + 128 189 Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business + - 12 6 18 42 3 19 - 9 +351 + 31 +125 + 27 +252 + + - Classified changes - net Unclassified changes - net - 98 - 43 +294 -472 -1,159 - 737 Net change in commercial and industrial loans -141 -178 -1,896 2/ Preliminary; see footnote on attached table. 215 4ll 680 102 73 73 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, JANUARY 28, 1959 H.12(a) Business of Borrower Trade: Wholesale Retail - 30.4 + 4.8 - .5 -19.0 - 4.7 + 6.9 - 1.4 + -5 + .3 .5 - .6 + 18.2 - 3.9 + 1-5 + 2.4 + .8 + .8 + 2.1 - 1.1 + 2.0 — - 1.0 + 1.3 - .5 - 1.1 - 1.4 + 1.5 — 2.1 - 7-4 + - -1.7 ( C 12 J 12>1 ) .2 +12.7 - •2 + .5 - 7.3 - 1.0 - .2 +1.9 - .3 - .1 + - .3 + .4 + .4 + •3 + .2 - .8 + 9.0 - 3.7 + .6 + »2 --- - .7 + .2 - .1 + 1.2 - .5 + •1 .1 .4 + .4 -2.1 - .4 - .5 - 2.8 + .2 + .3 - -7 + .1 - - 1.0 - .4 + .8 + 1.9 + .3 - .5 -1.7 -1.1 - 3.5 - 4.4 -11.5 - .7 -3-2 - 7.3 -2.5 - .3 -d" 1—1 + 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 New Phila- Cleve- RichSt. Minne- Kansas All DisSan FranAtlanta Chicago Boston Dallas tricts £/ York delphia land mond Louis apolis City cisco £/ (In millions of dollars) +1.5 -11.8 .7 - 4.8 - .1 -1.8 + - .7 - .3 - - - .7 - 1.9 +2.2 - 2.2 - .7 - .2 - .9 -1.5 - 4.4 - - .b + .3 Commodity dealers + 5.6 - Sales finance companies - 17.7 - 4.4 +25.5 Public utilities (including transportation) - 42.3 - .5 -32.3 Construction — 2.6 - .2 + 5-1 All other types of business - 19.1 + .9 - 9.7 Net change in classified loans l/ - 98.0 -11.0 -11.8 — 7«o Unclassified changes - net - 43.0 Net change in commercial and industrial loans -i4i.o + •3 + - .5 — — " — •1 *3 •3 +1-5 + •1 - 1.8 - .1 +1.0 -2.5 + .7 + 5.3 - 1.7 + .8 — — .3 (+2.6} + + .6 .1 .8 + 2.5 +2.0 -1.0 - 2.4 -2.8 + .6 - 3.0 -2.5 - 2.9 -16.O -1.0 -3.4 -15.6 -4.0 -2.3 - 3.7 - «9 -21.3 - 5.0 -19.2 - 3.0 - 4.0 +1.0 + .4 - .4 -1.0 -1.7 -11.3 - .1 + 1.3 -16.0 -31.0 -10.0 -20.0 -3.0 -l6.0 -5.0 -4.0 -15.0 -1.0 -20.0 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 210 weekly reporting member "banks are reporting changes in their larger loans as to industry; these hanks hold about 95 per cent of tota! commercial and industrial loans of all weekly reporting member "banks and about 75 per cent of those of all commercial banks.
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