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'V BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) H.12 \ June 11, 1952 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Repayments by p r a c t i c a l l y a l l business c l a s s i f i c a t i o n s r e s u l t e d i n a decrease of $106 m i l l i o n in commercial, i n d u s t r i a l , and a g r i c u l t u r a l loans a t weekly r e p o r t i n g member banks during t h e week ended J u r j g j ^ . The only businesses r e p o r t i n g net i n c r e a s e s were manufacturers of t e x t i l e s , a p p a r e l , and l e a t h e r products, s a l e s f i n a n c e companies, and "other" types of business* The decreases of $28 million in loans to manufacturers of metals and metal products and of $ll* m i l l i o n to "other" manufacturers and miners were the l a r g e s t weekly decreases in t h e s e c a t e g o r i e s since a sample of the l a r g e s t banks began r e p o r t i n g t h e s e data over a year ago. The continued repayments of and tobacco products amounting to $37 ing to $26 m i l l i o n , were r e f l e c t e d i n the wholesale and r e t a i l t r a d e i n t h e than o f f s e t by repayments elsewhere. loans by manufacturers of food, l i q u o r , m i l l i o n , and by commodity d e a l e r s amountevery d i s t r i c t . Increases in loans to New York and Richmond, d i s t r i c t s were more Changes i n loans during the week and since t h e year-end were as follows: Business of Borrower Week ended , June I4P/ Since , December 26£( (In m i l l i o n s of d o l l a r s ) Manufacturing and mining $ Food, l i q u o r , and tobacco T e x t i l e s , a p p a r e l , and l e a t h e r Metals and metal products Petroleum, coal, chemicals, & rubber Other manufacturing and mining Trade — wholesale and r e t a i l Commodity d e a l e r s Sales f i n a n c e companies Public u t i l i t i e s and t r a n s p o r t a t i o n Construction Other types of business C l a s s i f i e d changes - net U n c l a s s i f i e d changes - net Net change in commercial, indust r i a l , and a g r i c u l t u r a l loans p/ - 37 + k + - 28 8 lit 6 26 16 13 -870 - 71 +990 +125 + i|6 -116 -607 -271 - 7h - 95 - 12 + 3 - 1*5 -890 -278 -106 —1,168 W W +17 p r e l i m i n a r y j see f o o t n o t e on attached t a b l e . In a d d i t i o n t o t h e weekly t a b l e , t h e r e i s also a t t a c h e d a summary t a b l e showing changes during May compared with the preceding month, with May 1951, and with t h e p a s t y e a r . The purpose c l a s s i f i c a t i o n , which a sample of the l a r g e s t banks had a l s o reported f o r over a year, was discontinued a t t h e end of April 1952. The changes during May were quite s i m i l a r to those during April i n t h a t f u r t h e r repayments of loans by manufacturers of food, l i q u o r , and tobacco products and by commodity d e a l e r s accounted f o r the e n t i r e decrease with changes in other business c a t e g o r i e s p r a c t i c a l l y o f f s e t t i n g each o t h e r . The repayments by manufacturers of food, l i q u o r , and tobacco products were a t a much lower r a t e . Repayments by manufacturers of t e x t i l e s , apparel, and l e a t h e r products and by manufacturers and producers of petroleum, coal, chemicals, and rubber continued a t a higher r a t e ; both of these businesses had r e p o r t e d n e t i n c r e a s e s during May 1951. The i n c r e a s e i n loans to manufacturers of metals and metal products was somewhat l e s s than in April and only about o n e - t h i r d t h a t of May 1951* CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MElviBaR BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, JUNE ii, 1952 H.12(a) B u s i n e s s of Borrower M a n u f a c t u r i n g and mining$ Food, l i q u o r , and t o b a c c o T e x t i l e s , a p p a r e l , and l e a t h e r M e t a l s and m e t a l p r o d u c t s ( i n c l u d i n g machinery & t r a n s p o r t a t i o n equipment) P e t r o l e u m , c o a l , c h e m i c a l s , and r u b b e r Other m a n u f a c t u r i n g and mining Trade * Wholesale Retail ( I n m i l l i o n s of d o l l a r s ) Phila- uleveHew A l l Dis-, Boston York d e l p h i a land tricts 2/ -37.1 + 3.6 -21.0 + 5.1 1.0 -28.2 -20.5 - I4.0 -10.1 6.0 - 7.6 -lluU r („ 5.9 — .8 - .1 4- - *u *2 4. - 444- el .2 .1 - - •8 .3 *. a •1 - - .7 - - »2 - 1,8 + 9.2 .9 .7 4- *3 •3 .3 - .3 - .5 - + • ua 4- 2 . 5 #6 1.8 .5 .U • it* 8 - »2 - -3 .k San Fran-^ S t . Minne- Kansas D a l l a s ciscc P/ C i t y Louis a p o l i s Richmond A t l a n t a ! C h i c a g o ua 1.3 3.2 - - 2.6 - 1.0 - w - .2 •1 .5 -* 44- a - a .3 a — a 4- a 44- - - 1.0 2.2 .1 1.2 .1 .8 .3 .2 - 1.6 + .1 .6 .6 1.7 2.5 - 2.It — 1.1 4- .8 - U.7 + .1 + ok ) - 1.7 - 1.7 #7 - .9 - 1.2 - 2,7 - 2,li - .3 - - l.U - .7 + 1.5 - 3.2 - - - .2 + .2 - - - 1,7 - 2.1; + — * ) - 2.2 Commodity d e a l e r s -25.5 -12,1 - S a l e s f i n a n c e companies +16.3 4-16.2 + 7.1 - L8 - •l - el + Public u t i l i t i e s -12.8 - 3.3 — 1.8 - 5.7 4- •6 - a m. 3.2 - - •U - 4- Uh — 4- .3 - *h 4- *6 .6 + 2.7 - 1.3 4- 2 . 0 - .h 4- .8 -*• .U .5 4- 2 . 2 -I6.I1 + .2 - 1.8 -18.1 - 8.8 - .5 - 2.3 - 8.1 -111.8 — . 2 - 1.2 - 1.9 - 1.2 - .5 - 1.7 + 3.1 - 2.2 -3.0 -20.0 -10.0 - 1.0 - li.O - 5*0 -17.0 (including transportation) + Construction ,1 +17.1 + .4 +11.8 4- Net change i n c l a s s i f i e d l o a n s l / -9h»5 - 2,6 -28.8 * 7,5 U n c l a s s i f i e d changes - net -11.5 — # i| — 5.2 -106.0 - 3.0 -3U.0 A l l o t h e r t y p e s of b u s i n e s s Net change i n c o m m e r c i a l , i n d u s t r i a l , and a g r i c u l t u r a l l o a n s p/ .7 +1.5 *9.0 — 1.6 -18.0 •5 .3 — 4* .5 .8 .3 p r e l i m i n a r y ; f i n a l t o t a l s w i l l appear i n t h e P.E. B u l l e t i n and f i n a l San Francisco D i s t r i c t f i g u r e s appear i n a r e l e a s e of t h e Reserve Bank. v o T a i r a r%*oRin^r oS E.12(b) CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY (In m i l l i o n s of d o l l a r s ) 5 weeks 5 weeks 1; w e e k s ended ended ended May 2 8 , 1952 1 A p r i l 3 0 , 1952 May 3 0 , 1 9 5 1 B u s i n e s s o f Borrower M a n u f a c t u r i n g and m i n i n g ; F o o d , l i q u o r , and t o b a c c o T e x t i l e s , a p p a r e l , and l e a t h e r M e t a l s and m e t a l p r o d u c t s ( i n c l u d i n g m a c h i n e r y and transportation equipment) P e t r o l e u m , c o a l , c h e m i c a l s , and rubber O t h e r m a n u f a c t u r i n g and m i n i n g 12 months ended May 2 8 , 1952 -116.0 - 56.7 -295.1 - 34.6 -125.8 + 27.3 + 59.7 -371.5 + 28.5 - 34.1 + .1 + 41.4 - 26.0 + 4.8 + 97.3 + 2U.0 + 2.5 +2, 0 6 1 . U +271.5 +250.2 T r a d e — w h o l e s a l e and r e t a i l - 6.7 + 20.1 + Commodity d e a l e r s -118.0 -130.5 -l68.il + 23.3 S a l e s f i n a n c e companies + 34.9 + 2.8 + 1*7.9 -260.2 Public u t i l i t i e s + 18.7 - 70.1 + 83.9 +361.8 Construction + 22.1 + 17.1 + 13.4 — 61*. 0 A l l o t h e r t y p e s of b u s i n e s s + 3.9 - 28.5 - 16.3 - Net change i n c l a s s i f i e d l o a n s ^ . / -223.3 -198.6 - 9.0 +2,22^.0 U n c l a s s i f i e d changes - net - 1*2.7 - 69.1; - 70.0 -742.0 -266.0 -568.0 . - 79.0 +1,482.0 (including transportation) Net change i n commercial, agricultural loans l/ See f o o t n o t e on p r e c e d i n g industrial, and table regarding current coverage. 5.2 — 104.2 U.o