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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) May 20, 1953 CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS BY INDUSTRY Repayments of $70 million by sales finance companies, $28 million by manufacturers of food, liquor, and tobacco products, and $27 million by commodity dealers were the principal factors in the $56 million decrease in commercial, industrial, and agricultural loans at weekly reporting member banks during the week ended May 13. Partially offsetting increases included $26 million in loans to "other" manufacturing and mining, $25 million to manufacturers of metals and metal products, and $12 million to the wholesale and retail trade. Loans to sales finance companies decreased $83 million in the New York District but there were small increases in eight of the other districts. Most of the increase in loans to "other" manufacturing and mining was in the Cleveland and New York districts. Loans to the wholesale and retail trade increased for the twelfth consecutive week; the current increase was reflected in every district except Boston and San Francisco. Changes in loans during the week and since the year-end were as follows: Business of Borrower Week ended Since May 13 g/ December 31 p/ (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 28 2 + 25 1 + 26 + 128 + 374 + 61 + 57 + 12 + 210 - • 515 Trade -- wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction Other types of business 27 70 2 + 2 2 Classified changes - net Unclassified changes - net + 11 479 62 + 113 + 12 2? 125 1/ - 191 Net change in commercial, industrial, and agricultural loans , 56 1/ - - 67 - ~ 316 p/ Preliminary; see footnote on attached table. 1/ Excludes increase of $193 million in commercial, industrial, and agricultural loans resulting from revision of series, March 4, 1953. CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, MAY 13, 1953 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 (In millions of dollars) All Dis- Boston New Phila- Cleve- Rich- Atlanta Chicago St. Minne- Kansas Dallas San Francisco p/ Louis apolis City York delphia land mond tricts P/ .1 + .2 - .1 - .1 .1 - .2 + 1.9 + .5 + 9.4 + 1.2 - 2.3 .3 .7 .8 .4 .4 + 3.8 + 1.9 - .1 - .4 + .6 -27.9 - 2.3 - 1.5 -36.3 + .6 - 4.7 + +25.1 - 1.4 +25.6 1.6 +1.1 + .1 - .4 +20.4 - .7 + 3.8 + .4 + .2 - .1 + 1.2 + 7.9 + .2 +14.1 + .4 + - .3 + 1.2 .9 + .6 - .2 + + ( .8} +11 ) - 1.4 + 2.1 + 1.2 + + 1.8 .8 + - + - 7.2 .1 + 1.6 .4 + 1.7 - 2.2 Commodity dealers -26.6 + 1.5 - 8.1 - .9 - 1.5 - 1.1 - 1.5 Sales finance companies Public utilities (including transportation) -69,5 +2.6 -83.3 + + . 4 + 5*8 - .1 + 4.3 Construction + 2.1 - 1.8 + .4 - 1.0 .8 - .4 + .1 + .2 - .5 - .3 + 1.5 + .9 - .1 - .2 Net change in classified loans 1/ -66.9 + 4.1 -93.1 + 1.0 + 9.4 + 1.3 + 1.7 +11.1 Unclassified changes - net +10.9 + 3.9 + 2.1 + 2.0 - .4 + + .3 - 1.1 Net change in commercial, industrial, and agricultural loans -56.0 + 8.0 -91.0 + 3.0 + 9.0 + 2.0 + 2.0 +10.0 All other types of business - 2.0 .4 + 1.6 + 1.3 - 8.7 - .5 -- + .7 - .4 + .5 - 1.8 - .3 + 1.0 + + .5 + .2 .5 - • + 1.7 + .3 1.1 - .5 + 1.6 .+ 1.1 .1 - .3 - .7 + 2.7 — «• - - - *2 .6 + + .8 :V(<.8?) +- 2.0 1.8 4.7 - 5.4 - 2.4 + .7 - *2 + 1.0 - .7 -- + .1 + .6 + el + 1.5 + 2.9 + .1 + .6 .1 .4 + 1.2 + 1.7 + .6 + .4 - 2.2 - 2.2 el 3»9 - 1.4 .1 + 4.0 + -- - 4.6 .4 - 1.0 + + 7*5 .6 + 3.5 1.0 - l.o - 4.0 +11.0 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 215 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 JO per cent of those of all commercial banks.
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