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BOARD OF GOVERNORS OF TEE FEDERAL RESERVE SYSTEM /» H.12 (For Immediate Release) January 15, 195^ CHANGES IH COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY All industrial classifications except loans to commodity dealers participated in the decrease of $5^9 million in commercial and industrial loans at weekly reporting member banks during the week ended January 8. The principal decreases were $240 million in loans to sales finance companies, $58 million to the wholesale and retail trade, $57 million each to manufacturers of food, liquor, and tobacco products and to "other" types of business, and $13.3 million to unclassified borrowers. The decrease in loans to sales finance companies was the largest weekly decrease in this category since the series was started in 1951Changes 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. 82/ Cumulative since mid-year June 27, 1956 June 26, 1957 to , to Jan. 8, 19582' Jan. 9, 1957 (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 - 57 - 1 - 17 +274 -l6l -513 + 667 36 165 - 35 - 1 +116 -162 + + 458 44 Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business - 58 + 30 -240 - 9 - 11 - 57 - 65 +451 -348 +174 - 61 + 1 + + + + + 24 724 53 429 84 159 Classified changes - net Unclassified changes - net -456 -133 -295 -590 +2,274 - 365 Net change in commercial and industrial loans -589 -885 +1,909 | j Preliminary; see footnote on attached table. In addition to the weekly table a monthly table is attached showing changes during December compared with the preceding month and with December 1956, and also showing changes during the past twelve months. Most of the larger changes during December were in the same direction as in December 1956. However, loans to manufacturers and producers of petroleum, coal, chemicals, and rubber products increased in contrast to a decrease during December 1956; and loans to manufacturers of food, liquor, and tobacco products, which had increased during December 1956, decreased during the current month. Loans to the wholesale and retail trade showed the largest monthly decrease in this category since the series was started in 1951J conversely, loans to sales finance companies and to "other" types of business showed its largest monthly increases since the series was started. 4 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF "WEEKLY REPORTING MEMBER. B M K S BY INDUSTRY AND FEDERAL RESERVE DISTRICT WEEK ENDED WEDNESDAY, JANUARY 8, 1958 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 All DisBoston tricts P/ New York St. Phila- Cleve- RichAtlanta Chicago Louis mond delphia land (In millions of dollars) - 56.9 - 1-3 - 1.4 -5 - 24.7 + -7 - 5.6 + .4 - 3.6 - - 16.7 - 34.7 - 1.4 - 18.4 + 11.5 - 2.1 - 1.9 - 1.4 + 4.2 .8 +10.1 9.9 — 3*8 - 1.2 - 4.8 - 12.4 4.5 1.5 - 57.6: .8 + + .4 .8 San Frankinne-1 Kansas Dallas cisco p/ apolisI City + -3 - .7 -13.4 .3 -4.3 + 1.5 - .4 —- +2.3 — .4 + 1.0 + .1 - 6.3 .2 +1.1 .1 + .6 — 1.8 - .8 .6 - -5 - -9 - 3-1 - 3.2 - 4.4 — - 1.4 + .1 .4 - .2 - .6 -18.1 .8 -10.7 - 1.3 - 1.8 - 1-7 + 5-7 - 1.4 + .2 - 1.0 - 1.2 -1.0 - .1 -10.2 - .1 -- — + .1 - 1.9 -1.2 - 2.3 (- 7.4j - .9 + 1.1 -1.0 - 3.7 + 1.9 +1-9 - 4.2 + 2.4 - .1 .2 + .1 - 2.2 .6 + - ( + -5 - 2.4 Commodity dealers + 30.4 + 2.7 + 29.3 + 1.0 Sales finance companies -240.1 - .4 -169.2 7.7 - 7.4 - 2.6 -1.6 -39.8 - 6.1 + .8 - .7 - 5.2 - Public utilities (including transportation) - - .9 - 16.2 .2 + 4.5 + .1 + .2 + 4.6 + 1.5 + .4 + .7 - .6 - 3-3 Construction - 11.4 .2 - .8 + 1.4 - 1.2 -2.5 - .8 - .9 - 1-5 All other types of business - 57.0 - 6.9 -3.6 + 1.2 - 2.2 - .5 - 7.4 -17.4 - 9-2 - 1.8 - .8 18.9 - 1.5 .8 - •7 .3 -3 Net change in classified loans l/ -455.9 - 5.3 -226.0 -20.6 -10.4 -15.5 -8.6 -70.8 -11.3 -1.7 -33-5 -40.8 -11.4 Unclassified changes - net -133.1 •11.7 - 35.0 - 1.4 - 8.6 -10.5 - .4 -23.2 - 1.7 -4.3 - 2.5 - 1.2 -32.6 Net change in commercial and industrial loans -589.O -17.0 -261.0 -22.0 -19.0 -26.0 -9.0 -94.0 -13.0 -6.0 -36.0 -42.0 -44.0 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 banks hold over 90 P e r cent of total commercial and industrial loans of all weekly reporting member banks and nearly 70 per cent of those of all commercial banks. H.12(b) CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER B O K S BY INDUSTRY Business of Borrower 5 weeks ended Dec. 31, 1957 4 weeks 4 weeks 12 months :1 ended ended ended Dec, 26, I956J i Dec. 31, 1957 Nov. 27, 1957 (in millions of dollars) Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products (including machinery and transportation equipment) Petroleum, coal, chemicals, and rubber Other manufacturing and mining - 19.3 - 20.1 + 62.8 - 25.4 +I67.6 + 2.8 + 52.3 + 89.1 - 65.3 - 88.9 + 48.5 - 42.2 +152.6 - 58.1 - 7.7 Trade — -253.8 + 51.7 - 78.4 Commodity dealers + 83.1 + 67.6 +103.9 - 118.3 Sales finance companies +569.1 -175.1 +516.3 + 257.6 Public utilities (including transportation) +200.2 + 10.0 +136.1 + 695.5 Construction - 20.8 - - 9.1 - 61.0 All other types of business +135.1 - 66.1 + 22.3 + 3.4 Net change in classified loans l/ +749.6 -163.3 +948.3 +1,564.8 Unclassified changes - net - 32.6 - 47.7 - 28.3 - 602.8 Net change in commercial and industrial loans +717.0 -211.0 +920.0 + 962.0 wholesale and retail l/ See footnote on preceding table regarding current coverage. 6.2 ! - 124.7 11.5 + + + 438.7 440.9 53.0 8.8
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