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H»12 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) March 11, 1953 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Increases of $1*5 million in loans to manufacturers of metals and metal products, |33 million to sales finance companies, and $26 million to the wholesale and retail trade were the principal factors in the $32 million increase in commercial, industrial, and agricultural loans at weekly reporting member banks during the week ended March U. Partially offsetting decreases included $29 million in loans to public utilities and $26 million each to manufacturers of food, liquor, and tobacco products and to commodity dealers. Increases were also reported in loans to manufacturers of textiles, apparel, and leather products, amounting to $12 million, and to manufacturers and producers of petroleum, coal, chemicals, and rubber products, amounting to $1Q million. Most of the increase in loans to the wholesale and retail trade occurred in the New York, Cleveland, and San Francisco districts; there were smaller increases in all but two of the other districts. Changes in loans during the week, since the year-end, and since mid-1952 were as follows: Week ended / Since t Since / March December 31" June 25— Business of Borrower (In millions of dollars) Manufacturing and mining: +55U -200 - 26 Food, liquor, and tobacco + U6 + 87 + 12 Textiles, apparel, and leather +167 +167 + U5 Metals and metal products +257 + 7 + 10 Petroleum, coal, chemicals, & rubber + 20 + 2 - 15 Other manufacturing and mining Trade — wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction Other types of business Classified changes - net Unclassified changes - net Net change in commercial, industrial, and agricultural loans p/ Preliminary; see footnote on at 26 26 33 29 5 9 - 1 -198 - 88 - 62 - 9 - 11 +iia + h9 - 17 -323 -15U +2,171 -226 + 32 -U77 +1,9U5 + + + +U6U +U56 -118 + k +181 table. In addition to the weekly table, a monthly table is attached showing changes during February compared with the preceding month, with February 1952, and with the past twelve months. The changes during February were similar in many respects to those of January and of a year ago February. In all three months there were repayments by manufacturers of food, liquor, and tobacco products, by commodity dealers, and by sales finance companies; and there were increases to manufacturers of textiles, apparel, and leather products and to manufacturers of metals and metal products, However, loans to manufacturers and producers of petroleum, coal, chemicals, and rubber products remained practically unchanged during both January and February 1953; this was in contrast to a year ago, when they increased substantially. Loans to public utilities, which had increased during January and had declined by only a nominal amount in the previous February, declined substantially during February 1953. Leans to the wholesale and retail trade increased, following two months of decreases % the increase was in contrast to a email decline during February 1952. CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, MARCH it, 1955 E. 12(a) Business of Borrower Manufacturing and minings 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 [In millions of dollars ) Phila- Cleve- Rich- Atlanta Chicago New All D%,Sy Boston mond York delphia land tricts 2/ -26.0 1.0 + 5.5 +I»iu5 + 9.6 + 1.9 .9 .9 +23.0 [+25.6 j ~26.lt Sales finance companies +35. k -28.7 - 5.2 + 8.9 Construction All other types of business -10.9 +11.5 Commodity dealers Public utilities (including transportation) .it .2 — + 3.2 + 3.9 1.6 + 6.5 .1 + 1.1 + 1.2 + .2 + 3 . 9 + 5.0 - . 5 + 3.1 - .9 - .9 + 1.8 + 1*3 *• . 7 + 7,2 1*6 •* •6 urn •l ~ slj. 4* Uk •5 * #6 ~ .2 .6 " + 2. it + .it + »2 .7 + 5*o -5 + • 7.5 .7 .1 + 1.0 + .3 - 2.6 + 1.8 - + - + + + - %0 -}• 1|»o - 3 5 . 0 + 1 . 5 - 5*° - .7 «2 + 1.2 - .it — .7 - .1 .8 .6 + — 1,2 — 7 . 6 + . 8 — . 1 • l.it - . 3 + 2.3 • 2 . 8 +16.7 + 2 . 3 - *3 + 1 . 8 + - San Fran-, St. Minne-1 Kansas Dallas cisco £/ Louis apolisj City- .7 .8 + .3 .7 + + .6 .6 + + + + .3 #6 + + .5 + 9.3 +15.6 +10,6 +16.6 + 2-, 3 + 2,lt + 6.1 — 7.0 Unclassified changes - net -17.1 - 2.3 - 2.6 + l.it - 1.6 - - -U + 3-9 — Net change in commercial, industrial, and agricultural loans +32.0 + 7.0 +13.0 +12.0 +15.0 + 2.0 + 2.0 +10.0 - 7.0 + i.o + .5 .5 .5 .it l.it 8 (- - i .3 .5 .it + 1.8 + 3.8 - It.l - + 2,5 — 1.6 + .it + 1.2 - .7 - .1 + .1 - 5.2 - .9 - l.i - 7.1 - .1 - - 1.6 - ,7 - +it9.1 + - 1.8 - 1.7 Net change in classified loansi/' - 1.7 — — - 1.2 +16.9 + .U + 1*1 + 2,1 .3 - — it.8 + 6.7 + .8 .7 .3 .5 .2 - - 1|*2 + .1 .5 .9 + .6 — 6.9 - 7.9 - 1,0 + 2.0 -15.0 - 1.0 - 8.0 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 percent of total commercial and industrial loans of all weekly reporting member banks and about 70 per cent o ose o a commercia • CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY H, 12(b) (In millions of dollars ) It weeks I4. weeks 4 weeks ended ended ended February 2 7 , 195? February 2 5 , 1955 January 2 8 , 1953 Business of Borrower Manufacturing and minings Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products (including machinery and transportation e q u i p m e n t ) Petroleum, coal, chemicals, and rubber Other manufacturing and m i n i n g 12 months ended February 2 5 , 1953 -112.) + 68.9 - 32.0 + 6.1 -112.5 + 17.7 - 57. 0 - 1*6. r9 + 31.8 - 1.1 - 7.3 + 90.3 — 1.6 - 9.9 +11*0.7 +103.9 + 18.5 +572.8 +280.1 + 72.2 + 25.3 - 51.lt - 5.0 +169.8 Commodity dealers - 81.9 - 89. U -120.9 + 69.5 Sales finance companies - 15.3 -106.2 +58U.3 Public utilities (including transportation) - 57.U + 21*,6 - 594 - 10.0 Construction + - - 6.9 + 63.8 Trade — wholesale and retail 3.9 + 26.2 - It5*6 + 18.2 +173.9 Net change in classified loans3/ -152.9 -219.0 + 3lu3 +1,85it.it Unclassified changes - net + 12.9 -150.0 - 17.3 -3llt.lt Net change in commercial, industrial, and agricultural loans —lit 0 . 0 -369.0 - All other types of business l/ .2 - 28.1 * See footnote on preceding table regarding current coverage. 3.0 +l,5Uo.o
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