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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) July 28, 195^ CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Net declines of $42 million in loans to manufacturers of metals and metal products, $17 million to the wholesale and retail trade, $12 million to manufacturers and producers of petroleum, coal, chemicals, and rubber products, and $28 million to unclassified borrowers were the principal factors in the $89 million decrease in commercial, industrial, and agricultural loans at weekly reporting member banks during the week ended July 21. Partially offsetting increases included $15 million in loans to manufacturers of food, liquor, and tobacco products and $14 million to commodity dealers. The decrease in loans to manufacturers of metals and metal products was largely in the New York and Chicago districts; and most of the increase in loans to commodity dealers was in the Minneapolis and New York districts. Changes in loans during the week and since the year-end 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, & rubber Other manufacturing and mining Trade — wholesale and retail Commodity dealers Sales finance companies Public utilities & transportation Construction Other types of business Classified changes - net Unclassified changes - net Net change in commercial, industrial, and agricultural loans Week ended . July 2 l E ' Cumulative since year-end Dec. 30 Corresponding 19532' period, 1 9 5 3 (in millions of dollars) +15 521 + -42 - 666 -12 - 46 85 5 54 -17 -731 +185 +398 - 30 +106 +199 9 + + 53 + l 82 -618 - 68 + 90 + 16 -11 + 71 + -61 -1,516 -28 - -89 -1,822 +14 - 316 - 7 - 199 - p/ Preliminary; see footnote on attached table. - 8 + 306 1 -452 -267 -719 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, JULY 21, 1954 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 All Dis- Boston New Phila- Cleve- Rich- Atlanta Chicago St. Minne- Kansas Dallas San FranLouis apolis City cisco P/ York delphia land mond tricts £/ (In millions of dollars) +14.9 + A + 3.3 1.5 8.0 + •7 + 6.3 + .1 -41.9 - .8 -26.9 + •5 -12.2 + .2 - 7.8 .4 + .9 - .8 .h - 3.4 + 1 7 r ) -3) - -r •2 - .6 + 1.0 .2 + .4 + + .8 .2 + 1.2 + 4.9 + 1 . 0 — + 1.2 - . 4 .1 + + .4 -11.8 .3 - - •9 - •9 — •9 .1 .2 4.4 + + 1.1 .9 + 2.5 - .2 .2 - 1.1 .2 + 1.6 •5 + .3 - 2.5 .7 — - «8 - •3 .5 .2 + 1-9 .2 + .3 + 1.2 + .3 - 9.8 - 2.1 + 1.9 + .9 - 2.1 Commodity dealers +13.5 - 1.0 + 5.6 - Sales finance companies - 7.1 - 3.9 + 1.0 + 1.3 + 8.0 .2 Public utilities (including transportation) - 8.8 + .1 - 6.0 - 2.1 + 1.4 •3 Construction + .6 - .2 + + •2 + .7 All other types of business -11.2 4- 1.7 -18.5 + .2 + 1.7 - Net change in classified loansi/ -61.1 - 3.1 -49.3 - 3.1 + 9.6 Unclassified changes - net -27.9 - .9 -11.7 - 2*9 - 2.6 Net change in commercial, industrial, and agricultural loans -89.O - 4.0 -61.0 - 6.0 + 7.0 .4 .4 1 + 2.0 + .8 - .6 + 1.0 -- - .3 - + - + •7 .1 1.0 + 1.1 + .3 - 3-1 3-9 - 1.2 + 1.9 - .6 - 1.5 ) - 2.7 ) - .2 + 1.2 •3 + 6.2 + 1.8 + .8 - 2.2 - 1.5 + .7 + .2 - 1.1 - 1.8 - 1-3 - .3 - .4 .3 + 1.5 - .9 - 2.5 + 1.3 1-3 + 1.7 + .6 + .7 - .1 -20.4 - .4 + + .1 - 2.6 + 1.4 -23.0 + 1.0 - .2 - l.l + 1.0 + .8 8.0 + 1.8 - 4.1 - 2.0 - 1.0 + .2 + 3-1 -12.0 + 7.0 + 2.0 - 1.0 -14.0 |>/ 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.
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