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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H»12 (For Immediate Release) March 25, 1953 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY P r a c t i c a l l y a l l i n d u s t r i a l c l a s s i f i c a t i o n s p a r t i c i p a t e d i n the increase of $279 million i n commercial, i n d u s t r i a l , and a g r i c u l t u r a l loans a t weekly r e porting member banks during the week ended March 18, This was the l a r g e s t weekly increase i n these loans since the week ended September 17, 1952, which was also around a q u a r t e r l y t a x payment d a t e . The p r i n c i p a l increases were $107 million i n loans to manufacturers of metals and metal products, $51 million to the wholesale and r e t a i l t r a d e , $ltl million to public u t i l i t i e s , and $26 million each t o manufacturers of t e x t i l e s , apparel, and l e a t h e r products and to manufacturers and producers of petroleum, coal, chemicals, and rubber products * Following seven weeks of decreases, loans to manufacturers of food, l i q u o r , and tobacco products also increased $15 m i l l i o n . Most of the increase in loans to manufacturers of metals and metal products was in the New York and Chicago d i s t r i c t s , but there were small increases in a l l of the other ten d i s tricts. Changes in loans during the week and since the year-end were as follows Business of Borrower Manufacturing and mining: Food, l i q u o r , and tobacco T e x t i l e s , apparel, and l e a t h e r Metals and metal products Petroleum, coal, chemicals, & rubber Other manufacturing and mining Week ended / March 18— Since / December 31— (In millions of d o l l a r s ) Trade — wholesale and r e t a i l Commodity d e a l e r s Sales finance companies Public u t i l i t i e s and t r a n s p o r t a t i o n Construction Other types of business C l a s s i f i e d changes - net Unclassified changes - net Net change i n commercial, indust r i a l , and a g r i c u l t u r a l loans + 15 + 26 +107 + 26 + 17 -215 +152 +308 + 39 + 23 + 51 - 16 + 1 + hi + 6 - 10 +265 + lh +102 -2a - 66 + 13 + 3 - 9 v:t +279 1/+ 19 p/ Preliminary; see footnote on attached t a b l e . 1f Excludes increase of $193 million i n commercial, i n d u s t r i a l , and a g r i c u l t u r a l loans r e s u l t i n g from revision of s e r i e s , March It, 1953* H. 1 2 ( a ) CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, MARCH 1 8 , 1953 (In m i l l i o n s of d o l l a r s ) Business of Borrower Manufacturing and mining$ Food, l i q u o r , and t o b a c c o T e x t i l e s , a p p a r e l , and l e a t h e r Metals and metal products ( i n c l u d i n g machinery & t r a n s p o r t a t i o n equipment) Petroleum, c o a l , c h e m i c a l s , and rubber Other manufacturing and mining Trade * Wholesale Retail All Dist r i c t s P / Boston New York P h i l a - Cleved e l p h i a land San Fran- , S t . Minne- Kansas D a l l a s c i s c o P./ C i t y a p o l i s Louis Richmond Atlanta Chicago +1U.9 +26,0 .2 + lt.2 +18.7 +17. It - 1.8 + 1.9 + 1.1 - .2 + .1 .8 - .h + It.9 + 1.5 — 2,8 + 2,3 + .5 + .1 - 1.1 - ,2 - 3.3 + .1 - 1.7 + .3 +107.1; +26.0 +16.7 + .9 + .5 + 1,9 +65.5 +15.8 + 2,6 + 5.1* + .6 + 2,5 + 6,1 + 1.3 — ,8 + + ,2 .1 .7 + + .2 .5 ,6 +19.8 + 5.5 + 3.9 + .5 + .1 + 2. It + 2.5 + 1,0 + .3 + 1,6 + .5 + .1 + + + + 3.9 + 1,0 + 1.8 \ + 1.7 - 1.6 + .8 +13.3 + 1,0 + 1.0 + 1,6 + 1.9 + 3.1 + 1.9 + 1,2 + 1.7 + It.7 + It.6 + 2.8 + 2.2 + 1.3 + .3 + . 7 1C , Q ' A ) • - 1 . 7 + 1.2 ^ + 2 , 0 ) + 5 . 3 — - 1.2 + - + - — 8.1 - .2 - 2,2 - .7 - 2,8 .9 + ,6 + 1.7 - 2,It + .7 + .2 +19,9 ,rrn z\/ .2 - 1.1 .It .1 .8 .3 .7 Commodity d e a l e r s -16.0 - S a l e s f i n a n c e companies + i.i* + It. 5 -22,0 + 3.1 + 3.9 + 3.0 + 1.3 + 6,5 + 2,1 Public u t i l i t i e s +10,9 - 8,7 +19.3 + .7 + li.o + .1 + .7 + 3,0 + 1.0 Construction + 6,2 - 1*2 + 2,3 + .7 + 1.9 — .8 + .5 + 3.2 + 1.0 + .3 + .1 - .3 - 1.5 A l l other t y p e s of b u s i n e s s - 9.7 - -10,0 + .5 + + + .It + - + *2 + .3 - 3.3 + 1,6 (including transportation) Net change i n c l a s s i f i e d l o a n s ! / U n c l a s s i f i e d changes - n e t Net change i n commercial, i n d u s t r i a l , and a g r i c u l t u r a l loans +261t,8 +11.2 .6 .1 .7 .7 .3 .6 - +llt.lt +21.3 + 8.8 + 5.0 +57.8 + 1.1 + 7.2 * 2.3 - 1.8 +23.7 — 6,7 + 1.6 - 2.3 + 2,2 + 1.0 + 2.2 + .9 +1.8 + 1.7 - 2,2 +13.3 +16.0 +19.0 +11.0 + 6.0 +60.0 + 2.0 + 9.0 + li.o — it, 0 +37.0 + 1 . 3 +123.7 + .3 .7 • +279.0 + 2 , 0 +117.0 p / Preliminary; f i n a l t o t a l s w i l l appear i n the F.R. B u l l e t i n and San Francisco D i s t r i c t f i n a l f i g u r e s appear i n a r e l e a s e of t h e Reserve Bank, l / About 2 1 0 w e e k l y r e p o r t i n g member banks are r e p o r t i n g changes i n t h e i r l a r g e r loans as to i n d u s t r y ; t h e s e banks hold n e a r l y 90 per cent of t o t a l commercial and i n d u s t r i a l loans of a l l w e e k l y r e p o r t i n g member banks and about "]0 per cent of t h o s e of a l l commercial banks.
@FedFRASER