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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) May 2, 1956 CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS BY INDUSTRY Net increases of $56 million in loans to sales finance companies, $26 mil lion to public utilities, $17 million to "other" manufacturing and mining, and $14 million to the wholesale and retail trade were the principal factors in the $73 mil lion increase in commercial and industrial loans at weekly reporting member banks during the week ended April 25. Offsetting decreases included $27 million in loans to manufacturer of food, liquor, and tobacco products, $18 million to manufacturers of textiles, apparel, and leather products, and $10 million to commodity dealers. The decrease in loans to manufacturers of textiles, apparel, and leather products followed eight consecutive weekly increases. Loans to manufacturers of metals and metal products decreased $31 million in the New York District but were more than offset by increases in ten of the other districts; the net increase was $3 million. Changes in loans during the week and since the year-end are shown below; the third column shows the changes during the comparative period last year: Business of Borrower Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, & rubber Other manufacturing and mining Week ended . Apr. 252/ -27 -18 + 3 - 6 +17 Cumulative since year-end Dec. 28, 1955 Dec 29, 195% to to Apr. 25, 19562/ Apr. 27, 1955 (In millions of dollars) - + + + + + 244 -409 912 261 +185 + 72 +271 231 + 59 185 182 279 188 3 41 + 49 -369 +304 138 Trade--wholseals and retail Commodity dealers Sales finance companies Public utilities and transportation Construction Other types of business +14 -10 Classified changes - net Unclassified changes - net +44 +29 +1,167 + 51 l/ +322 -200 Net change in commercial and industrial loans +73 +1,218 l/ +122 +56 +26 - + - 2 - zJL - + 98 + 31 + 30 •QJ Preliminary; see footnote on attached table. l/ Prior to 1956, unclassified changes and total net change included changes in agricultural loans. CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, APRIL 25, 13p6 Business of Borrower - 2.3 - .9 -1 • 1 .3 + .4 - • 2 -1.5 ro ro + 1.0 -l6.6 -12.2 + +4.5 + .9 + .8 -30.9 + 1.4 + 4.4 + 3.6 + 8.4 +1,2 + .2 - 5.5 + .3 + 1.1 + 3.9 +1.9 [+13.6 J - .2 + .3 + 4.5 + 2.0 + .6 - 3.4 Commodity dealers -10.2 +1.3 + 7-2 Sales finance companies +56.3 +2.8 +24.5 + 7.8 Public utilities (including transportation) +25.5 + -3 +21.8 - .2 - 1 . 6 Construction - 1.8 - .4 -- + .1 All other types of business - 9-1 -3.1 -16.2 Net change in classified loans l/ +44.4 + .8 —10«1 +10.5 +13.1 Unclassified changes - net +28.6 +2.2 - 8.9 +1.5 + Net change in commercial and industrial loans +73.0 +3-0 -19.0 +12.0 +14.0 Trade: Wholesale Retail +1.5 - .3 San FranSt. Minne- Kansas Dallas ciscoP/ Louis apolis City ONO + 3-4 - 5.8 +17.1 Phila- Cleve- Rich- Atlanta Chicago mond delphia land (In millions oi dollars; 1 1 -26.6 -l8.0 New York 1—1 1—1 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 All Dis- Boston tricts P/ Jr K) H.12(a) - .8 + + .6 .9 - 3.9 + 3.1 + 6.7 - .1 +1.3 +1 • X +1.6 -2.6 -3.3 + .2 +5.0 + .2 + .6 +1.3 - .8 + .1 +1.8 - .2 + .7 - .2 + .2 +1.4 - .4 +2.2 + -9 -1.3 + .3 -1.0 + .7 +1.1 [+ 6.o| - .7 -3.1 + .5 -8.9 -2.1 - -5 + 9.2 - .7 +1.2 +4.7 +1.1 + •5 + .4 -3.2 +1, l - - • 3 -1.5 + - .3 .7 + .6 — - 1.0 + 1.0 - .1 + .9 + 1-5 + .2 - 1.6 - -5 +1.2 + .2 + 3.8 - .1 + .4 + 6.9 - 1.0 - .5 +1.2 + .8 - 1.0 - 2.2 -4.1 +2.2 +3.8 - .6 + .8 - .4 + 2.0 + 5.4 -2.4 +3.7 +2.0 -5.3 + .2 +3.6 +10.6 +17.7 .9 +3.4 - .7 -- + .3 -1.2 +3.4 + 7-4 +20.3 +1.0 +3.0 +2.0 -5.0 -1.0 +7.0 +18.0 +38.0 .3 + 1 . 4 p/ Preliminary; final totals will appear in the F. R. Bulletin and San Francisco District figures appear in a release of the Reserve Bank. 1/ 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.
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