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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) March 3> 1954 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Repayments by most business classifications resulted in a decrease of $109 million in commercial, industrial, and agricultural loans at weekly reporting member banks during the week ended February 24. The principal decreases were $52 million in loans to sales finance companies, $29 million to manufacturers of food, liquor, and tobacco products, $20 million to manufacturers of metals and metal products, $18 million to commodity dealers, and $17 million in loans to public utilities. The decrease in loans to manufacturers of metals and metal products followed three consecutive weekly increases; the current decrease was reflected largely in the New York and Cleveland districts. A $10 million increase in loans to manufacturers of textiles, apparel, and leather products was the seventh weekly increase in this business category. 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 Cumulative since year-end ended Dec. 3Q Corresponding February 24P/ 19532/ period, 1953 (In millions of dollars) Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, & rubber Other manufacturing and mining - 29 + 10 - 20 + 4 Trade — wholesale and retail Commodity dealers Sales finance companies Public utilities & transportation Construction Other types of business -192 + 62 -144 - 96 - 34 -174 + 75 +122 - 3 - 17 + 3 - 18 - 52 - 17 - 2 + 5 -l4o - 88 -236 - 51 - 7 - 45 - 26 -171 -122 - 33 - 4 - 19 Classified changes - net Unclassified changes - net -117 + 8 -970 r/ + 36 -372 -149 Net change in commercial, industrial, and agricultural loans -109 r/ -934 -521 p/ r/ — Preliminary; see footnote on attached table, Revised. CHANGES IK COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, FEBRUARY 24, 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 Trade: Wholesale Retail All DisBoston trictsP/ -29.0 + 9.6 + -19.6 + 3.6 + — - ; 2 * 9 ) Commodity dealers -18.3 Sales finance companies Construction -52*2 -17.2 - 2.3 All other types of business Public utilities (including transportation) 1.0 •5 .5 -10.1 .4 + + 2.1 + + 4.3 .9 .2 ,2 7-3 + .3 - 8.2 + 1.3 .7 + .9 + .2 + .1 + .9 + .6 + .2 — 1.5 + .1 + + .3 .5 - - .3 - .8 + .1 + - 3.2 San FranSt. Minne- Kansas Dallas cisco b/ Louis apolis City Phila- Cleve- RichAtlanta Chicago mond delphia land (In millions of dollars) • ) + New York - .2 + .1 + 1.2 - .2 -41.5 - 3.3 + 6.0 + .5 + 1.6 .1 + .4 - .9 .3 - •3 .1 .2 + .4 .2 + + .9 + .5 + .3 + - - - - •1 + .9 + .6 + - .5 - 9.8 + 2.0 - *» .5 2.8 -- - .6 • 1.5 + .5 + 5.4 - 1.3 +12,3 + .3 - Net change in classified loans!/ •117.1 - 3-3 -53.3 + .4 - Unclassified changes - net + 8.1 - .7 -1.7 - 1.4 + 2.8 + 4.0 + Net change in commercial, industrial, and agricultural loans -109.0 - 4.0 -55.0 - 1.0 - 7-0 + 6.0 - .5 .9 - .4 - .4 - 1.0 + 1.8 - 3.4 .4 - .3 + -- • - - 6.3 -- + .5 .1 + 1.0 .1 + - .5 .2 .5 (. .2 - ,1 .4 (+ 1.3 - .2 - + 1.6 - 1.9 - - 1.2 .5 + .9 - - 2.3 - - 1.8 1.9 .5 .1 .3 1.0 + 2.0 + .1 .9 .8 + + - 2.1 - 2.1 - 1.1 + .1 + 1.6 + .1 .8 + -- 1.4 .3 + 1.9 .2 .3 * - - - 6.6 - + + .6 1.1 .4 .2 + - .6 5 ) - 3.3 + 2.0 1.9 2.7 - 1.7 - .3 - 8.0 - - - 1.6 + .4 - 2.6 - .8 - .6 .4 - 6.9 - 7.8 -23.1 -- c) • .2 - - - 5.3 2.8 - 8.7 - 4.2 + .8 -11.3 - 1.8 - 1.4 - 1.1 + 1.8 +18.1 2.0 -20.0 - 6.0 - 1.0 - 8.0 - 6.0 - 5.0 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 220 weekly reporting member banks 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 70 per cent of those of all commercial banks.
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