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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) January 19, 1955 CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS BY INDUSTRY Net decreases of $44 million in loans to sales finance companies and $42 million to commodity dealers were the principal factors in the $97 million decrease in commercial, industrial, and agricultural loans at weekly reporting member "banks during the week ended January 12. The decrease in loans to commodity dealers was the largest weekly decrease in this business category since March 195^ J it occurred largely in the New York and St. Louis Districts, although sevfn other districts showed decreases. An $18 million decrease in loans to manufacturers or producers of petroleum, coal, chemicals, and rubber products followed three consecutive weekly increases. Net repayments of $11 million were made by the wholesale and retail trade, the fifth consecutive weekly decrease. Following two weeks of relatively small decreases, loans to manufacturers of textiles, apparel, and leather products increased $11 million during the week. 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 Cumulative since mid-year Week June 30, 1954 to July 1, 1953 to ended >P/ Jan. 12, 19552/ Jan. 13, 1954 Jan. 12 (in millions of dollars) Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, & rubber Other manufacturing and mining - 4 +11 + 2 -18 + 5 +425 - l6 -543 + 79 - 64 +450 -107 -456 +133 - 71 Trade -- wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction Other types of business -11 -42 -44 - 1 + 5 + 4 + 53 +473 + 30 -230 + 86 +134 - 72 +357 -226 + 91 - 29 + 99 Classified changes - net Unclassified changes - net -94 z_3 +426 - 73 +170 + 91 Net change in commercial, industrial, and agricultural loans -97 +353 +261 g/ 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 12, 1955 H.12(a) Business of Borrower All Dis7 Boston New Phila- Cleve- Rich- Atlanta Chicago St. Minne- Kansas Dallas San Fran-% cicco £/ Louis apolis City tricts E/ York delphia land mond (In millions of dollars) 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 .2 - - 3.7 +10.7 - 2.0 + 7.2 + 1.5 + 5-7 .9 + 2.0 - 3.2 + 2.1 + - -3 - 8.0 + + 1.0 + 3.1 .6 + -7 .2 - 2.3 -18.1 + 5.2 u 2 ;- - ) - •5 .1 .4 + + + .4 - 2.0 - 4.0 + 1.8 .3 + 2.1 • 5 - 4.0 .3 + 3.6 - 1.8 - .3 - 1.2 - + .9 + + .1 .2 + .1 + .5 .6 .2 + .2 + .2 .2 - 1.3 - 2.6 .1 + .5 - 1.1 + + .1 .6 - .8 - .2 - .1 - 1.3 + 1.0 - .2 .1 .4 - .9 - 2.0 - 1.5 + .3 - .8 ,2 + .4 .6 + .8 •9 - 1.0 + .1 -15.3 • 7 - 1.5 + 1.3 - 2.0 - .1 -14.0 + .3 .3 - .4 + .8 .6 + .4 .1 + .2 - 2.1 + .5 - 1-1 + .5 + 7-3 + 1.3 - 1.8 - 3.1 - .9 + - .7 - — .5 + .8 - 3-5 - 2.3 Commodity dealers -42.3 - 1.9 -19.8 - .8 + .2 Sales finance companies -44.1 - 2.2 -22.4 - Public utilities (including transportation) - 1.1 Construction + 4.9 All other types of business + 3.6 - .6 .1 - 6.5 .1 - .7 + *3 + .5 - .4 + .7 + 3.9 - Net change in classified loans l/ -94.1 - 7.8 -30.7 - Unclassified changes - net - 2.9 - 7.2 - 8.3 Net change in commercial, industrial, and agricultural loans -97.0 -15.0 -39.0 - 2.0 «3 1.4 .1 + .1 +2.0 + 1.1 - .1 - 2.3 .1 + 3.3 + .4 .4 - 2.1 + 2.9 + .3 - 2.4 -18.0 -16.2 - 2.1 - 3.0 + 4.8 - 2.7 .2 - 2.6 -18.0 - .8 - 2.9 - 1.0 + 4.2 +36.7 -10.0 - 7.0 - 5.0 -36.O -17.0 - 5.0 - 4.0 + 9.0 +34.0 .4 - 8.4 - 7.2 - 1.6 .3 ) + 1.1 - 1.8 • 7) - 1.6 + 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. 1J About 220 weekly reporting member banks are reporting changes in their larger loans as to industry; these banks hold over 90 F 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. 4
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