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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) March 2, i960 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Commercial and industrial loans decreased in eight districts and a net of $92 million at all reporting member banks during the week ended February 24. The principal net decreases were $77 million in loans to manufacturers of food, liquor, and tobacco products, $62 million to public utilities, and $18 million to "other" types of business. The larger offsetting net increases were $37 million in loans to manufacturers of metals and metal products, and $21 million to manufacturers of textiles, apparel, and leather 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 Week ended , Feb. 242' Cumulative since year-end Dec. 30, 1959 Dec. 31, 1953" to , to Feb. 24, igSoS' Feb. 25, 1959 (in millions of dollars) Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather • Metals and metal products Petroleum, coal, chemicals, and rubber Other manufacturing and mining -77 *21 +37 -241 +151 +343 -221 + 72 +244 - 4 * 2 - 34 + 42 - 67 + 7 Trade--whole sale and retail Commodity dealers Public utilities and transportation Construction All other types of business +13 -13 -62 + 3 -18 - 11 -227 - 75 - 16 - 47 - 60 -l64 -237 - 14 -120 Classified changes - net Unclassified changes - net —$8 4* 6 -115 -164 -561 -200 Net change in commercial and industrial loans -92 -279 -760 j>/ Preliminary. Note: Cumulative figures in the last column are not strictly comparable with current figures because of revised loan classification beginning with week ended July 8, 1959. CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE W KarVKTiwu BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, FEBRUARY 24, i960 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 rnw cmmo San FranSt. Minne- Kansas New Phila- Cleve- RichAll Dis- , Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas cisco j?/ tricts P/ %In millions of dollars) - .4 - -9 - .9 +1.4 -11.8 + .3 - 3*1 - .6 + 3*0 + .3 - .2 + .1 + + +3.4 - .8 —1.0 + .9 - .4 + .8 - .1 + .3 + 2.0 - 1.1 + .8 + 1.2 - .6 + .3 -1.7 + .4 - .1 + .5 + .5 + «3 + .2 + 2.1 — 2.6 + .6 — 1•X .7 fo 0 H.12(a) -54.8 +13.1 1.3 + .8 +"".4 - .5 +23.8 -h *2 + 1.6 + 3-0 + .4 + 1.8 .1 -3 + b^ 3.0 •5 Trade: Wholesale Retail - .2 - .4 + + .1 .9 + + .2 .8 + .1 -2.3 + .2 +2.5 +1.1 +1.8 + .6 + 2.5 + .1 - .2 -3 + .2 + -5 +1.6 Commodity dealers -2.2 +l6.2 + .3 - .5 - -7 +1.2 - 2.1 -10.3 + .4 -1.1 - 7.4 - Public utilities (including transportation) + .9 -46.7 + 1.5 -7.5 + .2 -1.0 -10.1 + .2 - .3 + .1 + .3 + Construction + .5 + 5-1 + .1 - .8 + .5 + .6 + 2.1 - - .2 - .6 + .7 - All other types of business - .8 - 9.3 + .9 +1.1 +1.6 -1.0 - 1.6 + .3 + .2 + .7 -13.3 + 3-7 Net change in classified loans l/ -2.5 -49.8 + 8.5 -7.9 +3.5 +4.2 -18.4 - 7*9 —2.6 +2.4 -21.0 - 6.7 Unclassified changes - net +1.5 ' + 3.8 + 1.5 +2.9 -1.5 - .2 + 4.4 + .9 + .6 -1.4 + 1.0 - 7-3 Net change in commercial and industrial loans -1.0 -46.0 +10.0 -5.0 +2.0 +4.0 -14.0 - 7.0 -2*° +1, -20.0 -14.0 ° + 1.4 .1 6.8 .2 4.6
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