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* BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 June 15, 1955 (For Immediate Release) CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Decreases of $27 million in loans to manufacturers of food, liquor, and tobacco products, $21 million to manufacturers and producers of petroleum, coal, chemicals, and rubber products, and $13 million to commodity dealers were the principal factors in the $13 million decrease in commercial, industrial, and agricultural loans at weekly reporting member banks during the week ended June 8. Partly offsetting increases included $8 million in loans to the construction industry and $33 million to unclassified borrowers. Most of the decrease in loans to manufacturers and producers of petroleum, coal, chemicals, and rubber products was in the New York and Chicago Districts Loans to public utilities increased $7 million in the New York District but they decreased in seven other districts; the net increase during the week was only $1 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 Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, & rubber Other manufacturing and mining Cumulative since year-end Week Dec. 2 9 , 1954 Dec. 30, 1953 ended . to , to June 82/ June 8, 1955^ June 9, 1954 (In millions of dollars) -27 + 4 + 5 -21 - 3 -548 - 520 +191 + 81 +251 +109 + 42 - 474 39 32 +105 49 Trade — wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction Other types of business + 3 -13 + 1 + 1 + 8 - 1 + 77 335 240 4o + 57 + 51 Classified changes - net Unclassified changes - net -46 ±33 +484 -284 -1,579 - 230 Net change in commercial, industrial, and agricultural loans -13 +200 -1,809 p/ Preliminary; see footnote on attached table. -429 +390 +167 + 90 - H.12(a) CHANGES IN COMMERCIAL AND INDUSTRIAL' LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, JUNE 8, 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 All DisBoston tricts P/ New York Phila- -26.9 + 3.8 + 1.0 .2 -20.7 + 5.1 + + 4.6 -21.4 - 2.6 + .1 .6 1.2 + 5.3 + .9 -12.8 - .6 + .6 + 1.7 .5 1.9 - ( -J - - .8 + + .7 •5 .6 .3 Cleve- RichSt. Atlanta Chicago land mond Louis (In millions of dollars) + 2.9 + .8 .2 .i .4 .6 + + .4 + 1.1 .2 .1 .2 - .5 + .6 .1 - .3 + + 1.0 + .5 .2 + .3 + 3.8 - - - - (+ 3.3) - Commodity dealers -12.5 + .1 - 5.4 - 1.0 - .2 Sales finance companies + .8 + 2.2 + 2.3 - 1.9 - Public utilities (including transportation) + .7 + 1.3 + 6.8 - 1.8 Construction + 7.8 + .5 + 3.9 + All other types of business - 3.2 + • 5 - 1.8 Net change in classified loans 1/' -45.6 + 1.3 -17.5 - Unclassified changes - net +32.6 - 4.3 + 8.5 + 1.5 Net change in commercial, industrial, and agricultural loans -13.0 — 3.0 - 9.0 - - - .6 1.9 2.2 + .5 - — - 1.6 3.9 2.3 — — Minne- Kansas .5 .2 .3 .3 + + + .8 .5 - San Frai P .1 .4 .8 .4 - 4.3 + .4 .3 .1 .1 .9 1,7 - .9 .3 .6 - .8 - •7 + .1 - + .2 + 1.5 - .2 + 7.7 + 1.8 - .7 + 3.3 + 1.0 - .5 + .4 - 1.9 + .1 - 1.5 + - .6 - .3 - .5 - .1 + .5 - .3 - 1.2 + 1.4 + .1 + — + 1.3 .3 + 2.8 + 1.3 + 1.5 + 1.0 + .3 .2 + .8 - .2 .9 + .6 - 1.4 .6 + 4.7 - 2.8 .7 + 1.1 5.3 - 5.1 .4 + 1.2 + 2.2 6.5 -18.1 + 4.5 +19.1 2.0 + 1.0 - 3.7 + .1 + + 5.3 - 1.8 - 1.3 - .1 - 1.4 + 2.8 - 2.0 + 2.0 - 5.0 - 1.0 + 4.0 + 2.0 -- - .1 - 2.0 - + 3.8 - - 1.2 - .3 4.4 7.3 - .1 ( ) (+ 1.0) .5 + .4 + .1 .3 - - • 7 Dallas .2 - - J*/ Preliminary; final totals will appear in the F. R. Bulletin and San Francisco District final figures appear in a release of the Reserve Bank* 1/ About 220 weekly reporting member banks are reporting changes in their larger leans 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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