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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) March 24, 1954 CHANGES IN COMMERCIAL M P INDUSTRIAL LOAMS BY INDUSTRY All industrial classifications except commodity dealers participated in the increase of $458 million in commercial, industrial, and agricultural loans at weekly reporting member banks during the week ended March 17. This increase was the largest on record. The previous highest weekly increase in these loans was in September 1950 and was also around a quarterly tax payment date. The principal increases were $103 million in loans to public utilities, $98 million to manufacturers of metals and metal products, $59 million to sales finance companies, and $40 million to manufacturers of food, liquor, and tobacco products. The increase in loans to public utilities and the increase of $38 million in loans to "other" manufacturing and mining were the largest increases in these business categories since this series was inaugurated three years ago. The decrease of $18 million in loans to commodity dealers occurred in the St. Louis, New York, and Dallas districts. 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, & rubber Other manufacturing and mining Week Cumulative since year-end ended Dec. 30 Corresponding March 17P/ 1953E/ period, 1953 (in millions of dollars) + 40 +23 + 98 + 10 + 38 -205 +91 + 6 -62 +13 -217 +151 +311 + 40 +23 Trade -- wholesale and retail Commodity dealers Sales finance companies Public utilities & transportation Construction Other types of business +34 - 18 + 59 +103 + 8 + 16 - 79 -135 -212 +53 + 1 - 21 +104 -250 - 63 +19 + 4 - 7 Classified changes - net Unclassified changes - net +410 + 48 -549 +108 +115 - 87 Net change in commercial, industrial, and agricultural loans +458 -441 + 28 p/ Preliminary; see footnote on attached table. CHARGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, MARCH 17, 1954 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 San FranSt. Minne- 1 Kansas New Phila- Cleve- RichAll DisDallas Chicago Atlanta Boston cisco p / City apolis! Louis land mond delphia tricts vj York (In millions of dollars) +39.8 +22.8 + +13.4 + 1.5 + 7.5 + .1 .4 + 2.0 +14.5 + 1.1 + 1.3 +17.5 + 1.8 + 3.4 + .8 +98.1 + 9.7 +38.4 + 4 . 0 +63.3 + 5.6 - 4.7 + 1.3 + .1 + 2.9 + 1.5 + .1 + 2 . 8 +15.4 + .6 + 4.1 + 1.3 .2 + .3 + 1-3 +21.0 + 2.3 + 1 . 9 + 2.9 + .4 + 1.1 + 8.6 + 2.0 + .4 .1 + 1.4 + • 9 + + 1.4 +13.0 1.4 1-3 + 2.1 .6 + .2 + . 4 - 7.2 .1 + 1.4 + .5 + .2 Trade: Wholesale Retail .2 .2 - - - + - - - Commodity dealers -18.2 Sales finance companies +59.2 Public Utilities (including transportation) - +102.5 - • + 3.7 + 2.0 +21.1 + 2.2 + 6.2 + 3.9 +81.7 - .6 + 7.6 + • 3 Construction + 8.1 - .1 + 1.2 - .1 + .1 All other types of business +15.8 + .6 + 1.3 - .3 .4 + Net change in classified loans!;/ Unclassified changes - net Net change in commercial, industrial, and agricultural loans +409.8 +48.2 +458.0 - - .7 - + + +17.0 +24.0 +14.0 - - - - - - - - - •9 .1 1.4 1.2 .2 + .6 - 2.6 - - - - + 1.5 + 1.5 + .9 + 3-5 + .1 + 1.2 .1 + 1 . 7 - .1 L + + 3-6 l.l ) - 3.2 ) + 1-9 + 4.3 + 1.5 + .2 + 1.6 ( .6 + • 3 - .4 + 1.8 4.3 7.9 + 8,9 .2 + 3.3 + 4.7 + • 5 + 1.2 + 3 . 3 + .8 • 5 + 5.8 + .9 + .1 + 3.1 + .3 - - - - .4 + 1.2 + 1.6 .1 + 1.7 + 3.4 + 3.1 + 9.5 +14.9 .6 +79.1 + 9.2 + 5.6 + 4.8 - 2.1 + 3.8 + 1.4 + 2.2 +12.5 + 7*1 + 7.0 +77.0 +13.0 + 7.0 + 7.0 +22.0 +22.0 - •7 +12.2 +222.0 +13.7 +20.8 +11.6 + 3-8 +10.0 + 3.3 + 3*2 + 2.4 +16.0 +232.0 + 1.1 .2 - - + 6.4 + + 4.0 + .1 + + 2.9 + 2.7 + .6 + 2/ 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 220 weekly reporting member hanks 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 "JO per cent of those of all commercial banks.
@FedFRASER