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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) May 31# 1956 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Most industrial classifications participated in the $111 million decrease in commercial and industrial loans at weekly reporting member banks during the week ended May 23. , The principal decreases were $53 million in loans to sales finance companies, $33 million to manufacturers of food, liquor, and tobacco products, $l8 million to commodity dealers, $17 million to manufacturers and producers of petroleum, coal; chemicals, and rubber products, and $15 million to the wholesale and retail trade. This was the first weekly decrease in loans to the wholesale and retail trade since the first week in February; it was reflected in nine of the Districts. 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 ended May 23P/ Manufacturing and mining: Food, liquor, and tobacco 33 Textiles, apparel, and leather 1 Metals and metal products + 2 Petroleum, coal, chemicals, & rubber - 17 Other manufacturing and mining 1 Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction Other types of business 15 18 53 + 5 + 6 - •- Cumulative since year-end Dec. 29, 1954 Dec. 28, 1955 to / to May 23, 1956£/ May 25, 1955 (in millions of dollars') 314 192 +1,116 + 263 + 277 -511 +180 +107 +277 +109 218 266 356 151 31 64 +103 -4oo +350 +142 + 70 + 92 ~ + + - + + + Classified changes - net Unclassified changes - net + 14 -125 +1,376 + 93 +518 1/ -300 Net changes in commercial and industrial loans •111 +1,469 1/ +218 |)/ 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, MAY 23, 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 Trade: Wholesale Retail New All DisBoston York tricts P.' Phila- Clevemond"l AtIanta l CLiCag °lLouis delphia land (In millions of dollars) -3 .2 - 3.2 + .7 -1.0 - - .5 - .2 -1.7 - -5 - .1 + .2 — 1.6 + .2 .4 - .8 + 1.5 + .3 - 1.6 + .3 -1.5 - .3 — .1 + .1 - .7 +3-1 -3.3 - .2 - 1.9 + 1-9 + .3 -1-0 - .6 +1.1 - .6 - .2 + .9 -1-9 -1.9 - .4 - .3 - 3.7 + .1 - -9 -4.4 - + -5 -12.7 -1.2 -l.o + .4 -11.0 - 1.6 + .4 - 1.4 — .4 + .4 — •1 + .4 - .5 - .1 ( (- 15-0) -4.0 - .7 - 4.0 - .4 - .6 - .3 + .6 - 1.2 - .7 — 4.0 - .4 — .2 + .5 + .4 - .7 + 1.8 - .2 — — 16 * 6 1*1. - .8 -20.3 - 2.8 - .3 -2.4 + + .4 - + 1.6 - 32.7 - 1.4 - .7 Minneapolis - - .7 + .6 + .6 - •l + .1 + 2.0 ( ) + 1.4 (-2'5) + 2.3 Commodity dealers - 17.6 -1.2 - 8.3 - .4 - Sales finance companies - 53-0 -3.8 -16.6 -3.9 - 6.9 + .2 - 2.6 -10.4 -3.3 Public utilities (including transportation) + 4.6 + .5 +22.8 + .2 - 2.2 - .1 - 2.7 - 1.7 — Construction + 6.1 + .7 + 1.6 - .2 + .2 + .6 - .4 + 1.9 +1-5 + -3 + •1 -1.4 + 1.2 All other types of business + .2 +1.7 - 4.0 - .5 - 1.3 -3•3 ~ 4.8 + 6.1 -1.2 + .4 +1.1 +3-9 + 2.1 Net change in classified loans l/ -124.7 -7.1 -40.5 -8.1 -14.9 -4.6 -11.7 -10.3 -6.7 -3-2 -3.1 -5-2 - 9-3 Unclassified changes - net + 13-7 + .1 -13.5 + .1 + 2.9 +4.6 .3 - 3.7 + -7 + .2 +1.1 + .2 +21.3 Net change in commercial and industrial loans -111.0 -7.0 -54.0 -8.0 -12.0 -12.0 -14.0 -6.0 -3.0 -2.0 -5-0 +±2.0 - -5 p/ Preliminary; final totals will appear in the F. R. Bulletin and San Francisco District final figures appear in a release 0+ vhe 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 tnose of a n commercial banks.
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