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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) July 15» 1953 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Moderate increases in loans to a majority of the business classifications were largely offset by declines of $20 million in loans to manufacturers of metals and metal products and $17 million to the wholesale and retail trade, with the result that the net increase in commercial, industrial, and agricultural loans during the week ended July 8 was only $>5 million. Nearly half of the increase of $16 million in loans to manufacturers of textiles, apparel, and leather was in the St. Louis District. The increase of $8 million in loans to commodity dealers was the first weekly increase this year in this business category; and the increase of $6 million in loans to manufacturers of food, liquor, and tobacco was the third weekly increase since J anuary. Repayments during the week by manufacturers of metals and metal products were largely in New York and the repayments by the wholesale and retail trade were largely in the San Francisco District, Changes in loans during the week and since the year-end are shown belowj the third column shows the changes during the comparable period last year Week ended Business of Borrower Manufacturing and mining t Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, & rubber Other manufacturing and mining Since Last Wednesday of December ^ 1952R 1251 (In millions of dollars) + 6 + 16 - 20 + 6 + 3 -651 +171 +Uoi - 39 + 9h -905 - 80 +1,039 +181 + 71 - 17 + 8 + 2 - ~U - l +198 -636 - 89 + 12 + 15 - 12 -12 U -615 -177 -167 + 20 + U Classified changes - net Unclassified changes - net + l 6 -537 -263 -751 - 89 Net change in commercial, industrial, and agricultural loans + 5 -800 -8U2 Trade — wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation 1 Construction Other types of business p/ Preliminary; see footnote on attached table, 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 8, 1953 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 Tradej Wholesale Retail (in millions of dollars) Phila- Cleve- RichNew All Dismond Atlanta Chicago tricts p/ Boston land delphia York + 5*6 +15.5 + .1 + 3.5 + .7 A - ,6 + .8 + + 1.7 - 1.1 - .2 .5 + .5 .1* + 5.5 + 3.5 San FranSt. Minne- Kansas Louis apolis City {Dallas cisco p/ + 2,9 + + 7.5 * + ,2 .2 — »8 *1 - .1 ,U + .6 (_ r .3 — .U ^ 2*2 ~ *1 .8 .9 —1— • *19,8 + 6,1 + 3*h ( r 17 ) - ) 2 Commodity dealers + 8.2 Sales finance companies +1,7 Public utilities (including transportation) -T + + + .1 + .It + ,u — .1 - .2 .2 .8 + + .1 .5 .8 — 6.6 — — - 1.7 — .2 + 1.6 + ,2 + .1 .5 + .1 .5 - .b .9 - .6 + 2,3 - it.8 - .2 + .2 + 1,9 + 3.2 - + 3.9 - .9 - 7.U + + 3.3 + + .2 .6 -15.5 + 7.2 - .3 + - .6 .7 + 3.1 - .9 + .9 .3 + - .5 + 2.2 + 1.5 + ,8 + 7.7 + 2,1 Construction - 3.7 + All other types of business - ,7 - 1.0 Net change in classified loansjV - .9 Unclassified changes - net Net change in commercial, industrial, and agricultural loans + 9.0 .3 .3 - — — .2 .5 + 1.0 ) - l.U * ) -12.0 .1 - .5 + .7 +1,0 + - U. o - 3.6 - 3,2 - 1,9 - 3.3 +1,7 + 1,0 .1 + .it - ,ii + .2 + *1 - 1.5 + *5 - 3.9 .2 - 1.0 + 5.2 - 3.1 - b*2 + 1*6 -12.9 - *6 + 9.9 ^ 1*0 - 3.0 .2 + + .9 — — + .2 + .1 - .1 - .1 + - ,2 - .1 - - .7 + 2.5 - .9 — •1 - 1,8 — .2 - .1 + 5.0 + 8.5 + 6.3 - + 5.9 + 1.0 + 1.5 + 1.7 - 1.3 + 5.0 + 6*0 +10.0 *6 + - *2 .7 - 2.7 — 1^6 - 6,6 +12.5 + .7 - 1.1+ - + + 8.0 — 2. 0 - 2.0 - 6.0 - 7.0 +13.0 - 5.0 — 8*0 ,U .5 - 1.9 - 3*8 .5 p/ Preliminaryj 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 215 weekly reporting member banks are reporting changes in their larger loans as to industry; these banks hold over 90 P e r cent of total commercial and industrial loans of all weekly reporting member banks and nearly JO per cent of those of all commercial banks*