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BOA. D OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) March 1, 1956 CHANGES IN COMMERCIAL AND INDUSTRIAL LOAMS BY INDUSTRY Most industrial classifications participated in the C91 million increase in commercial and industrial loans at weekly reporting member banks during the week ended February 29• Offsetting decreases were $31 million in loans to manufacturers of food, liquor, and tobacco products and $15 million to public utilities. The principal increases during the week were $60 million in loans to manufacturers of metals and metal products, $27 million to the wholesale and retail trade, $25 million to sales finance companies, and $15 million to manufacturers of textiles, apparel, and leather products. The increase in loans to the wholesale and retail trade was the largest weekly increase in this business category since mid-November of last year and was reflected in all but three districts. Loans to commodity dealers increased contraseasonally for the second consecutive week. Changes in loans during the week and since the 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 Cumulative since year-end Week Dec. 28, 1955 Dec. 29, 195U ended / to > to Feb. 292/ Feb. 29# 1956E' Mar. 2, 1955 (In millions of dollars) - 31 + •15 + 60 + 1U + 13 -228 + 5U +311 + 93 + 69 —2U6 +139 + ii9 +112 - 2 Trade—wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction Other types of business 27 •8 25 - 15 l + 5 - 9 - 27 -L71 - 314 - 83 - 8I4 -157 +103 - 10 + 2 - 31 Classified changes - net Unclassified changes - net +1-20 - 29 -238 -106 -126 1/ - 56 Net change in commercial and industrial loans + 91 -3hk 1/ -182 + + + + &h p/ Preliminary; see footnote on attached table. 1/ Prior to 1956, unclassified, changes and total net change included changes in ~~ agricultural, loans. CHANGES" IH COMMERCIAL AND'IEjDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AMD FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, FEBRUARY 29, 1956 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 New York All DisBoston tricts PZ -30.7 +14.5 Phila- Cleve- Rich- Atlanta Chicago St. Louis mond delphia land (In millions of dollars) -2.4 . 5.3 -1.4 + 9-4 +2.9 - -7 + San Fran' Minne- Kansas Dallas cisco P/ apolis City 2.0 1.6 + .3 .2 + + 1.1 .2 + .4 -1.2 - 9.4 + 3.2 1.8 1.3 2.8 + + + .2 .8 .6 + + + 1.2 1.4 .4 - .6 + 4.8 + .2 + .2 + .4 + .1 - A - .3 - .8 + .8 + 3.0 + 2.5 + 4.2 + + .9 -11.1 - -5 + .4 + .2 -1.4 -1.1 + .1 +17-9 + .7 + ,1 4-1.8 +14.0 +12.9 +5.1 +1.8 + .2 28.1 6.2 2.1 + .6 + .3 42.7 - Trade: Wholesale Retail +27-3 +2.3 + 9-9 +1.3 + 2.3 +2.2 + .3 - 1.0 + 1.8 -1.0 + .2 + 1.1 .7 + .3 - .8 +1.7 + -9 +1.0 +1.0 +1-3 (-2.0 + .9 ( + 1.2 + 1.7 Commodity dealers + 8.0 + .4 + 10.9 + .6 + 1.7 - .5 + .8 - 1.2 -2.5 +1.1 -1.1 -1.5 - Sales finance companies +25.1 -8.7 + 57.2 -6.0 - 5.7 + .5 - 3.9 - 9.3 -2.2 - • 3 +1.4 + .4 + 1.7 Public utilities (including transportation) -15.0 -2.8 + 1.8 — - 5,9 + .3 + 3-2 - 7.2 -1.4 - .2 - .1 • #1 - 2.6 Construction - 1.1 + .2 + l.l + .3 - - .7 + .7 -2.2 + .3 -1.1 - .1 + 1.0 All other types of business + 5-2 +6.0 + 10.4 -1.7 + 1.4 -1.3 + 4.6 -14.5 + .6 + r2 + ,4 ±-Jl - 1-5 +120.4 +2.0 +134.1 +1.5 - 8.3 -1.0 +10.7 -20.1 -4.1 +2.5 +2.6 -3.8 + 4.3 Unclassified changes - net -29.4 +1.0 - 12.1 + .5 - 4.7 -1.0 + 1.3 + 2.1 + .1 - .5 + .4 +1.8 -18.3 Net change in commercial and industrial loans +91.0 +3.0 +122.0 +2.0 -13.0 -2.0 +12.0 -l8.0 -4.0 +2.0 +3.0 -2.0 -14.0 Net change in classified loans 1/ +60.2 + + + + + .5 .1 + .7 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 210 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.
@FedFRASER