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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) June 12, 1957 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Net increases of $77 million in loans to sales finance companies, $23 million to manufacturers and producers of petroleum, coal, chemicals, and rubber products were the principal factors in the $89 million increase in commercial and industrial loans at weekly reporting member banks during the week ended June 5 • Partly offsetting net decreases included $21 million to commodity dealers and $11 million to manufacturers of food, liquor, and tobacco 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 Week ended . June 5-' Cumulative since year-end DecT 26, 1955" Dec. 287*1955 to . to June 5> 1957—' June 6, 1956 (In millions of dollars) -11 + 1 - 3 -485 +108 +637 + + 347 184 995 +23 + 6 +112 +122 + + 413 298 Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business -f ]_ -21 +77 - 2 + 3 +14 - 48 -494 +128 +160 - 37 -126 + + + + 211 315 424 169 33 83 Classified changes - net Unclassified changes - net +88 + l + 77 -175 +1,300 + 52 Net change in commercial and industrial loans +89 - 98 +1,352 - - p/ Preliminary; see footnote on attached table. In addition to the weekly table, a monthly table is attached showing changes during May compared with the preceding month and with May 1956, and also showing changes during the past twelve months. The changes during May were similar to those during April and a year ago May in that there were further repayments in loans by manufacturers of food, liquor, and tobacco products and by commodity dealers, and a further increase in loans to the wholesale and retail trade. The May 1957 decrease in loans to commodity dealers was the largest monthly decrease in this category since May 1951Loans to sales finance companies decreased during the current month as they did in May 1956; in both years these decreases followed increases in April. Loans to manufacturers of metals and metal products and to public utilities increased in the current month, following decreases in April. CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, JUNE 5, 1957 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 DisBoston tricts P/ New York St. Phila- Cleve- Rich- Atlanta n v ChlCaS " j Louis j_ delphia _l_and (In millions of dollars) San FraniXiinne - Kansas Dallas cisco P/ apolis City -10.5 4 .8 + .5 - .3 - 6.9 - 1.2 4 1.8 4 .4 42.8 - .2 -1.9 -3.5 - .1 - 2.8 4 .8 - .6 4 .2 - .1 4 .1 - 2.6 422.5 4 5-6 41.0 - .4 - .2 - 2.5 418.8 - 3.7 - 2.7 4 .1 - .3 - .1 -1.0 41.4 41.2 - .2 -1.3 41.1 41.0 -l • 3 +1.7 4 1.8 + 7.4 - .3 - .8 + .5 - .2 4 .2 4 .4 4 .2 4 .8 - - 4.0 4 + .5 42.1 -1.4 - .6 41.2 - .1 4 -1.4 +1.5 - .1 - .4 4- . X -1.3 -1.8 - -2.1 4- ,6 -4.5 - .1 + .3 -4.8 - 1.0 ( +1 2 - ) .6 .4 .8 2.5 5.6 - .6 4 .2 + + - .8 44.1 - .2 - 1.0 - 1.3 4 2.1 .9 .9 - 2.7 Commodity dealers -21.0 -1.0 - 6.4 4 Sales finance companies 476.8 42.2 437.6 47.0 45.8 +1.3 +3.4 4 9.8 43.6 41.4 4 .8 + -7 + 3.2 Public utilities (including transportation) - 2.0 -1.8 411.2 +1.5 -2.6 4 - -3 - 6.1 4 .6 + .7 -1.1 -2.0 - 2.2 Construction + 3.4 4 .6 4 2.2 - .3 + 1.7 - .4 4l.l 4 .2 -1.0 4 1.6 All other types of business 413-6 411.0 + .3 - .4 -1.1 4 - .6 4 - .1 - - -2.3 .1 - - .2 4 2.1 41.1 -2.0 4 .1 - - 2.7 Net change in classified loans l/ 487.8 - .5 444.2 410.8 +5.7 -5-6 - .9 434.0 -1.3 42.6 - .1 -4.3 + 3.2 Unclassified, changes - net 4 1.2 +4.5 - 9.2 - 1.8 - .7 4 .6 -1.1 4 2.0 + .3 -4.6 41.1 -2.7 412.8 Net change in commercial and industrial loans 489.O 44.0 +35.0 4 9.0 45.0 -5.0 -2.0 436.0 -1.0 -2.0 41.0 -7.0 4l6.0 p/ 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 210 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. CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY H.12(b) Business of Borrower 5 weeks ended May 29, 1957 4 weeks 5 weeks ended ended Apr. 24, 1957 May 30, 1956 (In millions c)f dollars) 12; months ended May 29, 1957 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 - 95.8 - 35-3 -73.8 + 6.4 - 81.3 + 37-9 + + 372.8 163.3 + 97.8 + 7.1 - 6,2 -19.0 +29.3 +10.9 + 53-2 - 7-1 + 32.0 + + + 965.0 687.2 294.2 Trade — + 10.4 +64.3 + 20.0 + 93.4 Commodity dealers -137-1 -83.0 -107.1 + 169.7 Sales finance companies -176.3 +91.6 -101.3 + 208.3 Public utilities (including transportation) + 61.2 -39-2 - 43.5 + 733.5 Construction - + 4.1 + 32.8 - All other types of business + 11.4 -18.3 +102.6 + Net change in classified loans l/ -263.6 -26.7 - 61.8 +3,727.4 Unclassified changes - net - -57.3 + - Net change in commercial and industrial loans -267.0 -84.0 - 57.0 wholesale and retail .8 3.4 4.8 123.1 373.4 +3,354.0 1 i 1/ See footnote on preceding table regarding current coverage. 83.1
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