The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) H. 12 July 11, 195& CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Net decreases of $25 million each in loans to manufacturers of food, liquor, and tobacco products and to manufacturers of metals and metal products, $10 million to the construction industry and $34 million to unclassified borrowers were largely offset by increases of $25 million in loans to "other" types of business, $20 million to manufacturers and producers of petroleum, coal, chemicals, and rubber products, and $l6 million to manufacturers of textiles, apparel, and leather products. The net decrease in commercial and industrial loans at weekly reporting member banks during the week ended July 4 was $8 million. The increase of $9 million in loans to commodity dealers was the first weekly increase in this category since last February. Changes in loans during the week and since year-end are shown below; the third column shows the changes during the comparable period last year: Business of Borrower Cumulative since year-end Week Dec. 29, 1955 Dec. 29, 1954 ended y to . to July 4-' July 4, 1956B/ July 6, 1955 (In millions of dollars) Manufacturing and mining: Food, liquor, and tobacco -25 +16 Textiles, apparel, and leather Metals and metal products -25 Petroleum, coal, chemicals, & rubber +20 + 1 Other manufacturing and mining 327 254 +1,337 + 444 + 370 - + 562 4 227 + 133 + 327 + 151 - 146 457 553 353 126 158 Trade—wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction Other types of business + 5 + 9 + 5 + 5 -10 +25 + 176 377 317 + 370 + 45 + 174 Classified changes - net Unclassified changes - net +26 z34 +2,149 + 86 +1,156 V - 253 Net change in commercial and industrial loans - 8 +2,235 iA + - + + + + 903 p/ Preliminary; see footnote on attached table. l/ Prior to 1956, unclassified changes and total net change included changes in agricultural loans. In addition to the weekly table, a monthly table is attached showing changes during June compared with the preceding month and with June 1955, and also showing changes during the past twelve months. All industrial classifications except the wholesale and retail trade and commodity dealers increased their borrowings in June. More than one-third of the increase in total classified loans during the month was to manufacturers of metals and metal products; these loans have also accounted for nearly one-third of the increase in classified loans during the past year. The decrease in loans to the wholesale and retail trade was the first monthly decrease in this category since January. The increase in loans to manufacturers and producers of petroleum, coal, chemicals, and rubber products was the largest monthly increase in this category since the series was started in 1951. H.12(a) CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, JULY 4, 1956 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 Dis- . 1 . tricte E/ Boet°"1 New Phila- Cleve- RichSt. Minne- Kansas San FranYork delphia land mond Atlanta Chicago Louis apolis City Dallas cisco £/ (In millions of dollars) -25.1 +16.2 + .8 -18.8 +1.7 +11.9 - .1 -6.8 - 1*3 - .3 -3.4 +1.1 -1.4 - .1 - 4.4 + .4 46.1 + .7 - .8 +1.8 + .1 - .1 + .8 + .2 + 1.1 + 1.9 -24.8 +19.6 + .9 -3.7 -11.0 + .3 +22.7 +1.9 - 1.3 - 2.3 -2.5 + .6 + .3 - -5 -~1.6 - .3 + .3 - 9-1 - 2.9 + 1.0 +1.6 + -9 -2.2 + .8 + .1 +1.1 +1.5 + .2 -1.3 -1.8 -1.3 + 2.9 4.8> - .3 + 5.9 -1.2 - 3.2 + .3 + .3 - 2.1 +4.1 + -7 + .1 + .6 - .3 - 2.2 + 1.0 -1.4 + .6 + .2 + .8 + .2 K6) + 3-0 - 3-9 + .1 +1.7 + • 1 - .4 -1« 2 +3.4 -1.8 + 3.7 + + -5 + .8 Commodity dealers + 8.6 - .4 + 4.3 - Sales finance companies + 5-0 -4.4 +30.0 -14.8 +2.0 +1.5 - .3 - 3.7 -4.1 -1.5 -2.5 - .9 + 3-7 Public utilities (including transportation) + 4.9 +1.2 + 1.5 - 3.1 -1.6 + .6 +1.5 + 1.9 + .9 +3.7 - .2 — .2 - 1.3 Construction - 9.9 - .1 - .5 — 1.6 - .8 + .3 + .1 - 4.2 -1.0 - .3 - .8 - .1 - All other types of business +25.4 + .1 + 1.3 + 1.5 +2.0 +2.9 + 5-3 +1.6 + .6 <6.2 + 3.9 Net change in classified loans l/ +25.6 -4.1 +42.8 -24.1 -3-5 +2.8 +1.8 -16.8 +3.3 +3.3 +3.8 +1.4 +14.9 Unclassified changes - net -33.6 -1.9 -20.8 - -9 - .5 -1.8 - .8 + 2.8 -1.3 - .3 + .2 +1.6 - 9-9 Net change in commercial and industrial loans - 8.0 —6.0 +22.0 -25.O -4.0 +1.0 +1.0 -14.0 +2.0 +3.0 +4.0 +3-0 + 5-0 .9 - - -9 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 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. H.12(b) CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY Business of Borrower 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 4 weeks ended June 27, 1956 5 weeks 5 weeks ended ended May 30, 1956 June 29, 1955 (In millions of dollars) 12 months ended June 27. 1QS6 j ' • + + 25-3 6l.6 - 81.3 + 37.9 - 29.2 + 39-6 + + + + + 395-9 170.2 105.9 + 53.2 - 7-1 + 32.0 + 69.6 + 35-5 + 44.0 +1,585.9 + 632.6 + 432.4 178.2 309.3 Trade—wholesale and retail - 35.4 + 20.0 + 43.2 + 497.9 Commodity dealers - 95-9 -107.1 - 60.8 + 82.8 Sales finance companies + 59.4 -101.3 +238.7 + 382.8 Public utilities (including transportation) + 221.9 23.6 +242.5 + 64.0 392.0 + - 43-5 + 32.8 + Construction + 160.5 All other types of business + 86.4 +102.6 + 51-5 + 518.9 Net change in classified loans 1/ +1,018.9 - 61.8 +738.6 +5,173.3 Unclassified changes - net + + 4.8 +121.4 - Net change in commercial and industrial loans +1,082.0 - 57-0 +860.0 +5,131.0 63.1 42.3 Loans reclassified on Octobdr 5 Total l/ + +5,449.0 See footnote on preceding table regarding current coverage. 318.0
