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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) H. 12 July 23, 1958 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY A net decrease of $115 million in loans to sales finance companies was the principal factor in the decrease of $186 million in commercial and industrial loans at weekly reporting member banks during the week ended July l6. Other relatively large net decreases during the week included $34 million in loans to manufacturers of food, liquor, and tobacco products, $17 million to manufacturers of metals and metal products, and $44 million to unclassified borrowers. An offsetting increase was $15 million in loans to the wholesale and retail trade. Changes in loans during the week and since the last Wednesday in December are shown below; the third column shows the changes during the comparable period last year. Business of Borrower Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, and rubber Other manufacturing and mining Week ended < July 162/ - 34 - l - 17 + 1 + 2 Cumulative since year-end Dec. 25, 1957 Dec. 26, 1956 to / to July l6, 1958£/ July 17> 1957 (in millions of dollars") - 865 + 70 - 112 - 517 + 162 + 855 176 + 149 + 281 + 219 - 20 510 183 4ll 3 48 Trade—wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business + 15 + 1 -115 + 6 + l + l 265 - 291 - 744 126 + 50 + l4l + + + - Classified changes - net Unclassified changes - net -142 - 44 -2,170 258 +1,019 - 226 Net change in commercial and industrial loans -186 -2,428 + 793 p/ Preliminary; see footnote on attached table. - CHANGES JN COMMERCIAL AND INDUSTRIAL LOiMS OF A SAMPLE OF WEEKLY REPORTING MEMBER M S K S BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, JULY l6, 1958 H.12(a) ISan Frac Phila- Cleve- Rich- Atlanta Chicago St. Minne-iKansas New All Dls- , DalXae Boston York delphia land 1 mond . lCisco m Louis apolief City tricts E/ (In millions of dollars) 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 - .1 + .6 -1.6 - .6 - 1.1 - 1.3 - 2.0 + .5 + «7 +2.1 + .5 + .2 + .3 + .8 + .2 « .2 - 2.x - 1.4 -11.6 + .8 + 8.4 - .6 + .2 +•6.5 +3.5 -2.4 -2.0 - .5 - .4 - «7 - 1.5 • .1 + .8 - 1.5 - 2.0 - 5-5 - .2 - .7 -1.4 -1.7 + .4 + .4 -2.5 - .1 - .1 - .6 +1.6 +1.6 - .3 .8 + .5 -2.9 - .1 + .1 - .3 - 1.3 + .6 + 1.9 - .2 -1.3 + .4 - #2 - .5 + .3 <-,8> + 7-6 + + + 2.2 +10,2 - 3-9 + 2.0 + .6 - .4 -1.0 - 2.9 + 2.3 -1.3 + .4 +2.6 - .8 + 3.4 -115.1 + 2.3 -74.3 + 4.5 - .2 -1.4 - 3.7 -23.6 -5.5 -2.6 -3«l - *2 - 7.3 Public utilities (including transportation) + 5.5 - .5 -no.7 + .3 +8.0 + .4 + .6 - 3.3 -3.4 + .4 -1.0 -- - 6.7 Construction + .5 + .2 + 2.3 - 2.6 + .4 +1.0 - 1.4 - 2.5 + .8 - .2 +1.1 +1.6 - All other types of business + 1.3 - 3.9 + 1.8 + 4.4 +1.5 +4.5 + .9 - 3.5 +1.2 + .1 +1.9 -5.3 -2.3 Net change in classified loans 1/ -142.1 - 3.5 -85.8 +14.5 +6.5 - .3 -11.3 -38.6 -9.2 -1.9 - .3 -5.9 - 6»3 Unclassified changes - net - 43.9 -19.5 -10.2 + 2.5 -1.5 +2.3 - - .4 + .2 - .1 + .3 - .1 -16.7 Net change in commercial and industrial loans -186.0 -23.0 -96.0 +17.0 +5.0 +2.0 -12.0 -39.0 -9.0 -2.0 -6.0 -23.0 - 34.4 - 1.4 - .5 -28.6 + 2.6 - 4.3 - 17-4 + 1.2 + 1.5 - 1.2 - 2.5 + 3.0 Trade: Wholesale Retail •+ 15.2] + 1.1 - .2 Commodity dealers + 1.0 Sales finance companies • - •X .h .7 —— * t. .4 .4 - .2 - ' • > * A * * % * * 4 a * t i * s .