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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 .(For Immediate Release) May 13, 1959 CHARGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Net increases of $28 million in loans to sales finance companies, $27 million to manufacturers of textiles, apparel, and leather products, $24 million to the wholesale and retail trade, $17 million to "other" manufacturing and mining concerns, and $46 million to unclassified borrowers were the principal factors in the $139 million net increase in commercial and industrial loans at weekly reporting member banks during the week ended May 6. Offsetting net decreases included $13 million in loans to the construction industry, $12 million to manufacturers of metals and metal products, and $10 million to commodity dealers. 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, and rubber Other manufacturing and mining Week ende4 , May 6B/ Cumulative since year-end Dec. 31, 1958 Dec: 31, 1957 to J to May 6, I959B/ May 7, 1958 (In millions of dollars) + 27 - It -395 +167 +524 9 12 - 96 +124 595 94 6 £ Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business 24 10 28 12 13 JL7 143 244 825 144 Classified changes - net Unclassified changes - net 93 46 -1,908 - 229 Net change in commercial and industrial loans +139 54 - 34 -2,137 p/ Preliminary; see footnote on attached table. In addition to the weekly table, a monthly table is attached showing changes during April compared with the preceding month and with April 1958, and also showing changes during the past twelve months. Although most changes during April were in the same direction as in March, the total net increase in commercial and industrial loans was small compared with the preceding month when there were the usual large borrowings to pay quarterly income taxes. The current net increase, however, was in contrast to a substantial decrease during April 1958. Loans to public utilities showed the largest monthly decrease since the series was started in 1951; the decline during the current month was in contrast to increases during the previoMs month and April 1958. CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, MAY 6, 1959 H.12(a) Business of Borrower New- Phila- Cleve- Rich- Atlanta Chicago St. Minne-IKansas Dallas San FranAll Discisco!?/ Boston Louis apolisl City York delphia land mond tricts P/ (In millions of dollars) 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 + 1.5 + .4 + 3-0 + 1.1 + 1.7 + 6.0 + •3 — 6.2 +22.8 + 1.5 + .6 + .1 + 1.2 .8 + •5 - .3 + .7 + 1.0 + 1.4 +4.7 - 3 - .9 + .1 -12.6 + 6.2 +11.4 + 4.3 -12.5 - .1 - 1-3 + .3 - .6 .4 + .4 + .6 + .9 +1.2 - "3 + •7 •7 + 2.7 -1.0 - .1 - .5 - .7 + .1 +1.4 +1.3 + .3 Trade: Wholesale Retail +1.6 + 2.2 + .4 + 1.7 + 3-0 + .4 + .4 - 1.2 + .8 + .8 + .4 - .9 + .3 + 8.0 + .8 +1.1 -3*3 - .1 + -3 + .5 Commodity dealers + .2 + 1.0 - .5 - .4 -1.8 + .4 - 3.9 -2.5 + .6 + .2 - 1.1 - 1.9 Sales finance companies -4.1 - 3.4 + 2.0 - .5 +1.1 +1.1 +25.0 +3.5 +1.4 +1.3 - .6 + Public utilities (including transportation) —1.8 +14.5 + -5 — 2.0 - .4 + .7 - 2.7 -- - .2 + .8 - .2 + 2.3 Construction + -7 - .4 + 1.3 + 1-5 +1.9 + .4 - 4.0 + .2 +1.6 +1.0 -11.7 - 5.3 All other types of business +1.7 + 2.4 + 1.0 - -7 -1.1 + .1 + .8 + .8 - .2 + 3-0 + 8.7 Net change in classified loans l/ -4.9 +39.6 +12.8 -13.8 +2.0 +3-2 +27.9 +6.7 - .6 +7-0 - 6.9 +20.2 Unclassified changes - net -1*1 + 2.4 + 1.2 + 1.8 -- • • 2 + 2.1 + -3 +1.6 +1.0 - .1 +36.8 -6.0 +42.0 +14.0 -12.0 +30.0 +7.0 +1.0 +8.0 - 7.0 +57-0 Net change in commercial and industrial loans +139.0 - +2.0 — — + .1 •9 - — - - .2 + 4.6 .8 (•1-°) + .8 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OP WEEKLY REPORTING MEMBER BANKS BY INDUSTRY Business of Borrower Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products (including machinery and transportation equipment) Petroleum, coal, chemicals, and rubber Other manufacturing and mining 5 weeks ended Apr. 29, 1959 5 weeks 4 weeks ended ended Mar. 25, 1^59 Apr, 30, 1958 (In millions of dollars) 12 months ended Apr. 29, 1959 -127.8 + 11.7 - 46.4 + 57-0 -177.3 - 55-7 + - + 43.1 - 28.5 + 16.3 +249.2 - 10.1 + 88.3 -299.5 - 59-8 - 32.4 + 227.8 - 174.8 + 70.8 Trade — wholesale and retail +125.3 +151.9 + 24.4 + 378.5 Commodity dealers - 50.7 -12.5 - 22.6 + 137.7 Sales finance companies +138.7 +234.5 -268.1 + 232.9 Public utilities (including transportation) -207.7 + 27.4 + 59.0 - 230.6 Construction + 17.2 +17.9 + 15.8 + 125.5 All other types of business + 19.5 + 23.7 - 69.7 + 438.2 Net change in classified loans 1/ - 42.9 +780.9 -885-9 +1,150.0 Unclassified changes - net + 72.9 +135.1 + 31.9 - 171.0 Net change in commercial and industrial loans + 30.0 +916.0 -854.0 + 979.0 l/ See footnote on preceding table regarding current coverage. X 45.7 101.7
@FedFRASER