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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H. 12 January 16, 1957 (For Immediate Release) CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY All industrial classifications participated in the decrease of $377 million in commercial and industrial loans at weekly reporting member banks during the week ended January 9The principal decreases were $131 million in loans to sales finance companies, $39 million to "other" types of business, $36 million to manufacturers of food, liquor, and tobacco products, $30 million to the wholesale and retail trade, and $70 million to unclassified borrowers. The decrease of $17 million in loans to commodity dealers was the first weekly decrease of as much as a million in this category since June 1956• The decreases in loans to sales finance companies and to public utilities were the first weekly decreases in these categories since the first week in November. 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, 195b June 29, 1955 ended , to . to Jan. 9~ Jan. 9> 1957— _ Jan. 11, 1956 (in millions of dollars) - 36 2 10 11 11 679 37 165 + 459 45 + - + 407 + 71 + 261 + 252 + 71 33 727 + 53 + 430 86 + 163 + + + + + + + • 280 449 534 84 112 312 Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business - 30 - 17 -131 - 2 - 18 - 39 + Classified changes - net Unclassified changes - net -307 - 70 +2 ,300 385 - +2,833 1/ - 231 Net change in commercial and industrial loans -377 +1,915 1/ +2,602 - p/ Preliminary; see footnote on attached table. l/ Prior, to 1956, unclassified changes and total net change included changes in agricultural loans, These 1955 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 BMSKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, JANUARY 9, 1957 H.12(a) Business of Borrower Manufacturing and mining: Phila- Cleve- Rich- Atlanta Chicago St. Minne- Kansas Dallas San FranAll Dis- Boston New cisco E / Louis apolis City mond York delphia land tricts k/ (In millions of dollars) .2 .1 - .1 + .2 - 2.6 + 1.7 .6 + .2 - 1.1 . 2 - .4 - 3.5 . 2 + .3 - .8 +2.7 -3.1 + .1 - 9.8 — •2 - 3.9 — 36•4 - 1-7 +2,3 -2.2 - 4.7 +1.1 3.1 +1.0 -11.5 - .5 + .7 + .4 «5 -17.4 - .2 - 1.3 -1.4 + + - .3 - 10.2 — 11. 4 - 11.2 - .6 - -7 -l.l + - -5 - 2 . 6 - 2.9 + .4 4.4 - .6 + .5 1.6 - .4 - .9 + -7 + 2.9 .6 + .8 + .5 - 7-4 - 4.6 + + + ;- 29.9) -2.6 + •3 - 2.0 - -5 - .6 - .9 - 10.7 -2.2 - 2.7 -1.4 - - 1.5 + .1 - 2 . 7 - .5 + - 1.3 -1.2 Commodity dealers - 16.6 - .8 - 10.5 + .9 + - 1.6 - 3.8 - 2.7 Sales finance companies -130.6 -5.0 - 68.1 +3.1 -l4.l -1.1 - 6.0 -38.7 - 3.0 - .4 - .4 -2.0 + 5-1 Public utilities (including transportation) - +1.9 + + .4 - 2.8 - .3 + .1 + .1 + -7 - 1.1 Construction - 18,3 + .3 - '2.5 -1.3 - .5 -1.1 - 1.1 - 5.3 -1.6 - .4 -3.4 - All other types of business - 38.9 - .2 - 13-0 -2.6 - .3 -1.9 - 1.8 - 6.6 - 1.6 - .3 - 4.1 -1.5 - 4.5 Net change in classified loans 1/ -306.7 -8.4 -111.4 -3.6 -34.6 -6.4 - 8.2 -87.7 -12.8 -l.l -11.1 -4.3 -17.1 Unclassified changes - net - 70.3 + .4 — 26.6 + .6 - 2.4 - .6 - 2.8 - 6.3 - 1.2 .9 -1.7 -24.9 Net change in commercial and industrial loans -377.0 -8.0 -138.0 -11.0 -94.0 -14.0 -5.0 -12.0 -6.0 -42.0 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 ) 1.5 .6 - 1 . 5 -9 + -5 - 2.4 + -5 -3.0 - 3 7 . 0 -7.0 .6 .1 .6 .5 .3 1 K! +4.1 - 1.4 -3.9 - - .3 .8 + .1 .8 g/ Preliminary; final total, .111 appear in the F. R. Bulletin and San Francisco District final figures appear in a release of the Reserve Bank.
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