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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) H. 12 March 19, 1958 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Net increases of $4l million in loans to sales finance companies, $33 million to manufacturers of metals and metal products, $25 million to "other" manufacturing and mining, $21 million to "other" types of business, and $16 million to manufacturers of textiles, apparel, and leather products were the principal factors in the $131 million increase in commercial and industrial loans at weekly reporting member banks during the week ended March 12. The only net decreases during the week were $27 million in loans to commodity dealers, $17 million to manufacturers of food, liquor, and tobacco products, and $8 million to public utilities. Changes in loans during the week and since the last Wednesday in December are shown below; the third column shows the changes during the comparable period last year. Business of Borrower Week ended , Mar. 122/ Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, and rubber Other manufacturing and mining Cumulative since year-end Dec. 26, 1956 Dec. 25, 1957 to to > Mar. 13, 1957 Mar. 12, 19582/ (In millions of dollars) - 17 + 16 + 33 + + 507 108 63 -343 +103 +303 + 9 + 25 + + 20 32 + 49 + 71 Trade—wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business + 5 - 27 + 41 8 + 5 + 21 - 340 200 588 125 35 2 -185 -197 - 18 +111 - 52 -135 Classified changes - net Unclassified changes - net +104 + 27 -1,576 - 350 -293 -145 Net change in commercial and industrial loans +131 -1,926 -438 p/ Preliminary; see footnote on attached table. CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, MARCH 12, 1958 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 MinnePhila- Cleve- Rich- Atlanta Chicago St. New All DisBoston York delphia land apolis Louis mond tricts PZ (In millions of dollars) - 17.0 + 16,1 ~ -3 + +2.0 + 6.6 - .1 +1.5 5-9 + 1.0 + *3 + .5 -A.7 -1.2 + .9 - 7.7 - 2.9 + .2 + -5 -2.7 + .1 + + .2 .2 -11.4 + .5 + 33.3 + 8.6 + 24.5 -1.3 + 9-3 + 3.1 + 6.2 + .1 + 3.1 + .4 + .7 +1.9 + 16.8 + l.l + 2.3 + .4 +1.2 +2.0 + .9 + .1 + .9 + 4.8 + 3.6 + 4.3 + 2.6 + .7 + .4 +1.4 + .6 + .1 + .7 - .8 - .8 - 2.2 - 2.2 + 6.1 + .1 - 2.2 + .2 +1.3 +1.3 + 2.2 + .4 + + .1 .2 + 1.2 +1.1 + .5 ( + 1*°) - 2.8 + .2 + .9 -1.4 - .9 - 4.1 - 6.0 + 37.8 - 1.1 -12.5 +1.9 - .9 + 8.0 + .3 * ) + .4 +1.0 - 1*9 + 2.3 3.0 - 1.4 + Commodity dealers - 27.0 - .5 - 5.7 Sales finance companies + 4i.o +3.2 Public utilities (including transportation) - 7-6 + .1 + 24.9 + 1.3 -10.3 -7.2 + .6 + 1.2 - 8.4 Construction + 5-2 - •3 + 1.7 - .4 + 1.9 +1.1 +1.3 + .6 + -3 - .4 + .3 All other types of business + 21.4 + 17.7 + .3 - -7 +1.2 - .8 + .6 + «3 + *5 +1.2 +12.2 -ll.l +113.2 + 6.9 -10.5 +4.6 +3.5 +14.2 -12.0 +2.1 -1.0 + 4.8 -28.3 + 3-1 + 5-5 + ,4 -4.5 + 6.8 -3.1 -1.0 + 2,2 +12.3 +10.0 +5.0 -1.0 +21.0 -1.0 -2.0 + 7-0 -16.0 (+ 5 3 Net change in classified loans 1/ +103.8 46.3 Unclassified changes - net + 27.2 - .3 + Net change in commercial and industrial loans +131.0 46.0 +119.0 p/ Preliminary; final totals will appear in tne s . n. x > c ^ u . h 5.8 + .4 .2 .3 + mm mm — 5.0 ~ — .5 — -12.0 - -5 - .5 - 3-3 - 4.5 — -1.3 - 1.2 + 6.6 — — - .8 + - 9-9 ^ ^ „ -9 - - - . .9 „ ... About 210 weekly reporting member tanks are reporting changes in their larger loans as to industry; these banks bold about 95 per cent of total commercial and industrial loans of all weekly reporting member banks and about 75 per cent of those of all commercial bank .
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