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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12; (For Immediate Release) June 1, 1955 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Net decreases of $30 million in loans to manufacturers and producers of petroleum, coal, chemicals, and rubber products, $27 million to manufacturers of food, liquor, and tobacco products, $17 million to sales finance companies, $12 million to commodity dealers, and $38 million to unclassified borrowers which included the redemption of Commodity Credit Corporation certificates of interest, were the principal factors in the $102 million decrease in commercial, industrial, and agricultural loans at weekly reporting member banks during the week ended May 25. The principal offsetting increase was $14 million in loans to public utilities. The decrease in loans to manufacturers and producers of petroleum, coal, chemicals, and rubber products was the largest decrease in this business category since November of last year; it was reflected in all but the Atlanta District. Following eight weeks of increases, loans to the construction industry decreased $3 million. 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 Cumulative since year-end Week Dec. 29, 1954 Dec. 30, 1953 ended . to . to May 25£/ May 25, 1955&' May 26, 1954 (In millions of dollars) Manufacturing and mining; Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, & rubber Other manufacturing and mining - 27 - 2 + 3 - 30 + 1 -507 +180 +108 +279 +97 - 474 + 50 - 271 + 8 23 Trade — wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction Other types of business + + + 5 12 17 14 3 4 +100 -398 +348 +l4l + 69 + 95 43 - 327 - 242 58 + 5 3 + 43 Classified changes - net "Unclassified changes - net - 64 - 38 +511 -299 -1,284 - 242 Net change in commercial, industrial, and agricultural loans -102 +212 -1,526 jj Preliminary; see footnote on attached table. 11.12(a) CHANGE IN COMMERCIAL AMD INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, MAY 25, 1955 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 Commodity dealers All Dis-.L tricts P / | B o 8 t o n New Phila- Cleve- RichSt. York delphia land mond Atlanta Chicago Louis (In millions of dollars) Minne- Kansas apolis City Dallas -26.6 - 2.2 - 1.2 -15.2 - .1 - .4 - .6 - 1.3 -10.6 + >5 - 2.0 + .7 - '1 — + 1.7 + 1.2 + + -5 + -5 + -3 - 1.3 + .3 - 1.2 .1 NOT + 3.0 -30.3 + .6 + • 1 + 8.3 - .3 - 2.6 -13.5 - .9 - 1.7 + 1.0 + 1.8 + .1 + .5 - 2.4 - 1.8 + .7 - .9 + .4 + 1.3 - 4.4 - 3.8 + .1 + -3 - .4 - 1.1 - 1.4 - .9 - .6 - .6 -9 - 2.6 .3 - .2 AVAIL- + - .1 - -5 + - .4 + .2 + .3 .6 - .5 + 1.9 + -3 .4 !• + <H .4 + .1 .1 + 2.8 - .2 + .1 .2 - •'! -11.6 - 1.2 + 1.8 - 1.3 - .4 - .7 - 1.6 - 1.1 - 4.8 - 1.3 - 1.0 Sales finance companies -17.4 + .5 -11.6 - 2.5 - .2 - .7 - 1.7 + 2.7 - 4.7 + 1.0 + .6 .8 Public utilities (including transportation) +14.1 - .3 +13.7 + - .2 + .2 - .5 + .3 - .1 + .3 + .5 Construction - 3.1 + .7 + 1.5 -9 + 2.6 + .3 + .4 - .5 - 7.2 All other types of business + 4.1 + .8 + 7.6 .3 + 1.3 - 1.8 - 3.0 - 1.5 + .4 + -5 + Net change in classified loans 1/ -64.3 - 5.0 - 4.1 - 5.4 -14.4 - 3-7 - 1.9 - 3-1 -11.4 - 2.0 - 2.2 -11.1 Unclassified changes - net -37.7 - 2.0 -10.9 - 3-6 - + + - 7.0 -15.0 Net change in commercial, industrial, and agricultural loans San r «Wn J- -L C2,L-LV -Lq £3 -102.0 -15.0 .2 - - - - .9 - 9.0 - - + .6 - 2.3 - 8.1 - 6.0 - 1 0 . 0 .1 - 3.0 .4 + 2.0 -11.0 - ABLE .4 .8 - 3.9 - 8.0 - 3.0 -15.0 - 8.0 p/ Preliminary; final totals will appear in the F. R. Bulletin and San Francisco District figures appear in a release of the Reserve Bank. -Z Ab c o L f r r i r r i 3 reporting member banks are reporting changes in their larger loans as to industry; these banks hold over 90 per cent of total mmercial and industrial loans of all weekly reporting member banks and nearly 70 per cent of those of all commercial banks.
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