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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) January 6, 1954 CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS BY INDUSTRY Increases of $129 million in loans to sales finance companies, $31 million to manufacturers of petroleum, coal, chemicals, and rubber products, $18 million to "other" types of business, and $14 million to public utilities were largely offset by net repayments of $76 million by the wholesale and retail trade, $38 million by manufacturers of metals and metal products, $19 million by unclassified borrowers, and $12 million each by manufacturers of food, liquor, and tobacco products and by "other" manufacturers; the net increase in commercial, industrial, and agricultural loans at weekly reporting member banks during the week ended December 30 was $27 million. The increase in loans to sales finance companies was the second largest weekly increase in this business category in 1953 and was reflected in all but one district. Over one-half of the increase in loans to manufacturers of petroleum, coal, chemicals, and rubber products was in the New York District, but there were smaller increases in six other districts; it was the largest increase since December 1952. The trade decrease was the largest since last year-end and occurred in all but the Minneapolis 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 Cumulative since mid-year Week ended June 24, Corresponding December 30P/ 1953 £/ period, 1952 (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 + - 12 4 38 31 12 +502 -102 -353 +102 - 55 +754 - 4o + l +250 + 36 Trade -- wholesale and retail Commodity dealers Sales finance companies Public utilities & transportation Construction Other types of business Classified changes - net Unclassified changes - net - 76 - 3 +129 + 14 - 2 + 18 + 46 - 19 + 10 +377 -139 + 18 - 23 + 97 +436 +155 +141 +662 +544 - 57 + 13 +191 +2,494 - 59 + 27 +591 +2,435 Net change in commercial, industrial, and agricultural loans 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, DECEMBER 30, 1953 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 Commodity dealers San FranSt. Minne- Kansas New Phila- Cleve- RichAll DisDallas cisco PZ Chicago Atlanta Boston City apolis Louis mond York delphia land tricts P/ (In millions of dollars) + .7 - 7.6 - .3 - 1.4 - 1.9 + 3.0 + 1.8 - 1.9 - 1.1 - 1.2 - .3 - 2.0 + 1.2 - 1.1 - -37.8 +30.7 -11.7 + 1-5 -12.4 - 5-1 - 9-3 + 1.1 +16.1 - .2 - .7 - 2.1 - 4.8 - .1 - 1.7 -- .5 - .8 - 8.6 - 1.6 - 2.0 - .3 -- + .6 + 4.1 + 5.3 - 3.0 + .8 + .8 - .2 - ~ - .2 - .8 - 1.3 - .1 - 1.8 -27.6 - 2.0 - 3.7 -1.6 + .9 + 5.3 + .7 - .3 + .2 - 1.7 - 2.9 - 4.0 -1.4 + 1.1 + -13.8 - 3.8 + .3 - + 3.0 - 6.6 - 1.4 - 1.1 + 1.2 \ r Q/ ^~75 - 2.5 .2 - - •3 Public utilities (including transportation) +14.4 - 1.7 +73.7 + 6.4 + 3-8 +1.5 - .7 + 9.0 + .2 + .9 + .2 Construction - 1.9 - All other types of business +17.7 Net change in classified loans!:/ Sales finance companies - 1.6 .7 - .3 -12.1 - 4.0 +128.6 .4 — -- +31.8 + 3.0 + + 2.3 + + - 9.5 - 1.4 + +45.6 + .7 +72.2 .6 -16.9 Unclassified changes - net -18.6 - 6.7 -13.2 + 1.1 - 1.9 - 1.4 Net change in commercial, industrial, and agricultural loans +27.0 - 6.0 +59-0 - 1.0 -11.0 - 2.0 — .5 + .6 + 2.5 - 3.2 - 1.0 + .3 + 1.3 + 2.2 - .8 - .9 .3 +18.2 - .7 + 5.3 + 3.6 - 2.1 - 9.1 .3 .1 - + - .6 .5 + .2 + 4.3 + .5 .1 (_ 4,1) .6 ) .4 -+• * 6 - •8 -1.7 - 4.2 .5 - 2.3 + 6.7 +1.3 - -- .1 - .5 .2 + 1.8 - 1.2 + .1 + -5 - .6 + .7 - 3.5 + 2.9 + 8.5 + 4.2 - 5.2 - 2.1 - - 9-9 + 2.0 + 1.8 -5 - 1.1 - 1.0 - 2.8 +20.8 - 9-8 -19.0 + 8.0 -11.0 + 1.0 - 1.0 +25.0 -15.0 .5 + 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 90 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.
@FedFRASER