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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) H.12 July 8, 1959 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY A net increase of $105 million in loans to sales finance companies was the principal factor in the $9 million net increase in commercial and industrial loans at weekly reporting member banks during the week ended July 1. Other large net increases were $32 million in loans to manufacturers of metals and metal products and $l4 million to public utilities. The principal offsetting net decreases were $60 million in loans to manufacturers of food, liquor, and tobacco products, $27 million to the wholesale and retail trade, and $21 million to manufacturers and producers of petroleum, coal, chemicals, and rubber products. 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 Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, and rubber Other manufacturing and mining Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business Classified changes - net Unclassified changes - net Net change in commercial and industrial loans Week ended , July 1Mf Cumulative since year-end Dec. 31, 1958 Dec. 31# 1957 to , to July 1, 19592/ July 2, 1958 (in millions of dollarsj - 689 + 16 518 218 876 + - 21 - 12 163 188 + - 27 280 363 426 143 105 134 - 163 - 293 - 579 - 207 + 56 + 56 - 22 +1,039 + 162 -1,760 - 172 + +1,201 -1,932 - 60 + 5 + 32 - 8 +105 + 14 + + 1 4 + 31 9 + + - 88 211 166 2/ Preliminary; see footnote on attached table. In addition to the weekly table, a monthly table is attached showing changes during June compared with the preceding month and with June 1958, and also showing changes during the past twelve months. All industrial classifications except manufacturers of food, liquor, and tobacco products, manufacturers and producers of petroleum, coal, chemicals, and rubber products, and commodity dealers, showed net increases in loans in June; in all but one category the current increases were larger than in June 1958, with the result that the total net increase in commercial and industrial loans was about 75 per cent greater than that of a year ago. CHANGES IK COMMERCIAL AMD INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, JULY 1, 1959 H.12(a) Business of Borrower 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 - 59.6 + 4.5 + .1 - .8 H 00 O CO 1 I Manufacturing and mining: San FranKansas All Dis- Boston "New jPhila- Cleve- Rich- Atlanta Chicago St. Minne- City Dallas cisco j>/ Louis apolis York Idelphia land mond tricts Pz (In millions of dollars) + 31.7 - 21.0 +2.5 +12.4 - 11-5 +2.4 Trade: Wholesale Retail 27.4| +1.9 -17.1 - 2.9 - 9.4 -2.5 - .3 + .2 + .2 - .6 - *1 - .9 .3 - 3.2 - .4 +1.1 + .3 +1.1 - 1.6 + .5 +1.7 - .7 - •1 .5 + -5 - 1.9 - *3 + .2 -1.8 -5' + 3-3 - 2.5 - .6 -1.1 -2.9 +2.7 + .3 +1.1 + 3.9 + 3.4 - 1.5 -1.3 + .2 +10.6 - 1.8 - .6 -3.8 +1.1 -1.7 -2.8 - «3 + .3 + .9 + .1 -3.0 + 3-4 - .4 + .1 + 2.6 - .8 + -7 + .4 -1.0 —1.0 - .5 + .4 - 7.3 -11.9 + .8 —1.8 + 7.9 - 7.7 -1.7 + - r .2 5 - .6 Commodity dealers - 8.1 - .8 + .9 - 2.2 - .4 - .5 -1.1 - 4.5 + .9 — .1 +2.4 - 1.4 - 1-3 Sales finance companies +104.5 +1.4 +92.6 - 2.9 - -5 +1.6 +3.6 + 7.7 +1.5 - .2 +3.1 - 1.4 - 2.0 Public utilities (including transportation) + 13.8 -4.6 +31.6 -16.5 +6.3 +1.4 - .3 - 3.8 + .7 - .4 - .3 •5 Construction + 1.0 - .9 - *1 + 1.0 + .5 +1.7 +1.5 + 3*6 + .3 +1.0 -1.4 - 5-5 •7 All other types of business + 3.5 -2.3 +16.1 - 3-3 -2.5 -4.3 +2.4 + .9 +4.3 +1.4 -1.7 -15.1 + 7.6 Net change in classified loans l/ + 31.4 -2.8 +89 »8 —18.6 -2.9 -5.7 +7.6 - 9.7 +5.5 + .4 + .7 -31.9 -1.0 Unclassified changes - net - 22.4 +2.8 -36.8 - 3.4 +3.9 -2.3 + .4 - .3 + -5 +4.6 -1.7 - 1.1 +11.0 Net change in commercial and industrial loans + +53.O -22.0 +1.0 -8.0 +8.0 -10.0 +6.0 +5.0 -1.0 -33-0 +10.0 * 9.0 " + -2 tSSSsfsusa or - H. 12(b) CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A 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 OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY 4 weeks ended June 24, 1959 4 weeks 4 weeks ended ended June 25, 1958 May 27, 1959 f (In millions ci dollars) 12 months ended June 24, 1959 + - 63.5 18.4 + - 390.6 155.6 + 12.4 + 469.1 - 80.2 - 5.0 + 55.6 +336.2 - 29.5 + 57-5 + 615.0 Public utilities (including transportation) +179-7 + 81.7 + 72.5 + 77-5 Construction + 53-6 + 29.2 + 29.5 + 154.1 All other types of business +133-1 + 74.2 + 77-9 + 492.4 Net change in classified loans 1/ +874.3 +314.6 +474.6 +2,221.8 Unclassified changes - net + 69.7 +106.4 + 64.4 12.8 Net change in commercial and industrial loans +944.0 +421.0 +539-0 +2,209.0 - 57-2 + 38.6 - 6.2 + 34.2 + +175-1 - 27.4 + 43.7 +132.8 - 9-3 + 44.6 +135-9 + 31.1 + 56.7 + Trade — wholesale and retail + 46.4 + 43.1 Commodity dealers - 47-5 Sales finance companies l/ See footnote on preceding table regarding current coverage. 6.1 78.0
