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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) January 7* 1959 CHARGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY A net increase of $196 million in loans to sales finance companies was the principal factor in the net increase of $258 million in commercial and industrial loans at weekly reporting member "banks during the week ended December 31 • Other net increases were $66 million in loans to manufacturers and producers of petroleum, coal, chemicals, and rubber products, $60 million to "other" types of business concerns, $30 million to commodity dealers, $28 million to manufacturers of metals and metal products, and $24 million to public utilities. The larger offsetting net decreases were $88 million in loans to the wholesale and retail trade, $72 million to manufacturers of food, liquor, and tobacco products, and $26 million to manufacturers of textiles, apparel, and leather 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 , Dec. 3 W Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, and rubber Other manufacturing and mining - 72 — 26 + 28 Cumulative since mid-year June 25, 1958 " June 26, 1957 . to to Dec. 31, 19582/ Dec. 31, 1957 (In millions of dollars] 530 231 452 +331 -159 -496 - 18 116 +150 -l6l 94 4ll 268 234 52 359 - 8 +420 + 60 + + + + + + Classified changes - net Unclassified changes - net +232 + 26 - Net change in commercial and industrial loans +258 + Trade—wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business + 66 - 7 - 88 + 30 +196 + 24 + 20 2/ Preliminary; see footnote on attached table. + - - - +1,130 200 930 -108 +183 - 49 + 58 +161 -457 -296 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, DECEMBER 31, 1958 H.12(a) Business of Borrower Manufacturing and mining: £i=S8£/pott>n New I Phila- Cleve- Rich- Atlanta Chicago St. Minne- Kansas Dallas San Fraiicisco Hi Louis apolis City York delphia land mond (In millions of dollars) - 72.0 - 25.8 - 1.6 - 4.7 - 67.7 - 16.5 - 1.7 + 3.2 + .3 +1.5 - 2 . 9 + 2.5 + 2 . 1 - .3 - 6.4 - 3.5 - 2 . 1 - .1 - .7 -1.9 + .9 + 1.7 + .1 + 27.7 + 66,3 - 6.8 + 2.4 + .9 - 3.5 + 26.5 + 30.5 + 2.7 - 6.6 + 5.3 + 1.8 + 2,1 + .3 - 1.6 - «5 - .2 +2.2 .4 .7 - 2.2 + 4.7 - 3.5 + 1.6 + .9 - .1 - .3 - 1.2 + .6 •3 + 8.4 - .3 + .8 +16.1 + .8 [ - 87.6j - .2 - 1.7 .5 — 1.8 - 1 . 6 - 1.0 -1.1 - 55.6 - 3.5 — 1 . 8 - 2.2 - 2 . 0 + 4.8 -13.3 - 2 . 0 -2.1 - 1.2 —1.0 - 1.0 - 2.3 Commodity dealers + 30.4 + 1.4 + 25.8 + 5.1 + + Sales finance companies +195.6 +11.8 + 66.6 +16.7 +2.7 +44.0 + 7.1 +6.9 + 2.9 +20.0 Public utilities (including transportation) + 23.8 + 3.7 + 57*7 -34.7 -13.9 + 1.4 + .8 + 5.4 + 7.5 -4.1 - .8 + Construction + 20.4 + 1.1 + 8.1 - .4 +1.7 + 3.5 + .3 + .7 + .9 + 3.2 All other types of business + 60.4 - 2.6 + 23.1 - 1.7 + 6.6 + 4.8 - -5 + 9.5 - .5 + .2 + 1.3 +20.2 + 7*0 +100.7 -33.5 + 8.4 +14.5 +5.5 <48.1 + 9.1 - 6 . 0 +10.6 +68.0 +1.5 +10.9 + - 3.6 - 1.0 +36.0 -35.0 + 7.0 +17.0 +7.0 +59.0 +10.0 - 6 . 0 + 7.0 467.O +36.0 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 i + .9 - - - ,2 +1.1 + 6.8 +10.1 .3 + .8 + Net change in classified loans l/ +232.4 Unclassified changes - net + 25.6 + 6.0 - 24.7 - 1.5 - 1.4 + 2.5 Net change in commercial and industrial loans +258.0 +13.0 + 76.0 .4 -5.8 .9 .9 Not avail+ .8 .8 able — p/ Preliminary; final totals will appear in the F. R. Bulletin and San Francisco District 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 about 95 P e r cent of total ~ 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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