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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) H.12 May 8, 1957 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Net increases of $79 million in loans to sales finance companies, $66 million to public utilities, $56 million to manufacturers of metals and metal products, and $17 million to the wholesale and retail trade were the principal factors in the $115 million increase in commercial and industrial loans at weekly reporting member banks during the week ended May 1. Partly offsetting decreases included $43 million in loans to manufacturers of food, liquor, and tobacco products, $27 million to "other" manufacturing and mining, $17 million to manufacturers of textiles, apparel, and leather products, and $9 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 Cumulative since year-end Dec. 26, 1955 Dec. 26, 1956 Week to to ended , May 1, 1957^/ May 2, 1956 May l£/ (In millions of dollars) Manufacturing and mining: - 43 Food, liquor, and tobacco Textiles, apparel, and leather - 17 + 56 Metals and metal products Petroleum, coal, chemicals, & rubber•- 4 Other manufacturing and mining - 27 -422 +126 +598 + 79 + 96 + + + + 248 154 973 255 246 17 9 79 66 4 8 - 43 -345 +306 +167 - 44 -143 + + + 216 194 249 232 2 Classified changes - net Unclassified changes - net +122 - 7 +375 -180 +1,387 + 50 Net change in commercial and industrial loans +115 +195 +1,437 Trade—wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business + + + + 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 1956, <and also showing changes during the past twelve months. Changes during April were more like those of April 1956 than March 1957 el-noetfae latter changes included large borrowings to pay quarterly income taxes«, For the four weeks ending April 24, the net repayments of loans to manufacturers of food, liquor, and tobacco products were larger than in the comparable period a year ago, but the net repayments of loans to public utilities were smaller. Loans to manufacturers of metals and metal products decreased during current period in contrast to an increase a year ago. CHANGES IK COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, MAY 1, 1957 H.12(a) Business of Borrower San Frani St. Minne- Kansas New Phila- jCleve RichAll Dls-z Atlanta .Chicago|Louis apolis City Dallas ,Cisco P/ Boston mond delphiaj land York tricts B/ (In millions of dollars) Manufacturing and mining: 43.1 17.2 -2.3 -24.8 -2.8 -14.7 -2.9 - .6 + 1.0 + 1.0 -1.0 —1 • 2 - .4 -1.3 4.1 .5 -1.6 + .3 - .1 +1.6 -1.0 + .3 - .3 + .1 - 5.6 - .4 55.8 3.8 27.2 +1.9 +53.6 + .2 - 4.7 - -23.0 - .8 + .3 + 2.4 -10.1 +1.1 + .4 + .3 +1.0 + .5 - .3 8.3 4.8 1.7 + .4 - .1 + .4 +3.0 + .9 + .3 - .4 + .2 + .1 + .9 +2.0 +1.1 + 3.1 - .8 + 3.1 Trade: Wholesale Retail > + 16.9j +4.1 + 1.5 - .8 + .4 -1.8 +3.0 + .2 • 1.2 + .3 + .6 + 4.8 +1.5 + .6 +1.5 -1.2 + .4 ( + + .1 Commodity dealers - 8.9 -1.8 + 8.0 + .1 Sales finance companies + 79.0 + .6 +40.7 Public utilities (including transportation) + 66.0 +1.3 Construction - 4.0 + .6 + All other types of business + 8.4 — — - .8 C c) + - ) .6 *5 - .9 + 2.6 - 1.8 - .1 + .3 - 3.4 - .7 -2.9 - .8 + .2 +1.5 +12.9 +1.7 +3-8 + 4.5 +4.7 +3.7 -2.1 +3.8 + 3.2 +2.4 - 4.6 - .2 - .6 + 5.0 - .7 + .5 - .1 + 7.7 .3 + .5 + 1.8 + .3 + .9 + 1.9 + *9 -1.5 -2.7 -2.2 - 4.8 — ,6 +1.6 +1.8 - 1.4 -1.8 +4.3 +10.3 - .4 + .8 -1.3 - .8 - 4.1 +55-3 - - 5 ON b + .8 1 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 Net change in classified loans l/ +121.9 + .4 494.2 +2.4 + .5 + .6 +7.9 +10,7 +5.3 •+6.6 -7.2 +5-2 - 4.7 Unclassified changes - net - 6.9 +3.6 -49.2 +2.6 + .5 +1.4 +1.1 + 1.3 + .7 + .4 +1.2 +3.8 +25.7 Net change in commercial and industrial loans +115.0 +4.0 +45.0 +5.0 + 1.0 +2.0 +9.0 +12.0 +6.0 +7.0 -6.0 +9.0 +21.0 p/ Preliminary; rxnai xoxais w i u appear m uuc r. — centoftotel z: ~~~ * 1 H.12(b) CHANGES IN COMMERCIAL AND' INDUSTRIAL" COANS OF A SAfjPLE OF 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 4 weeks ended Apr. 24, 1957 4 weeks 4 weeks ended ended Mar. 27, 1957 Apr. 25, 1956 (In millions of dollars) 12 months ended Apr. 24, 1957 -73.8 + 6.4 + + 38.8 75.1 - 55.2 + .8 + + 387.3 236.5 -19.0 +29.3 +10.9 + + + 442.8 80.1 91-5 + 87.0 + 57.0 + 17.5 + + + 920.4 673.0 332.4 Trade — wholesale and retail +64.3 + 80.3 + 90.6 + 103.0 Commodity dealers -83.0 - 111.0 - 80.I + 199.7 Sales finance companies +91.6 + 291.6 + 41.0 + 283.3 Public utilities (including transportation) -39.2 + 89.7 -117.7 + 628.8 Construction + 4.1 + 2.1 + 28.1 - All other types of business -18.3 + 8.2 - 20.9 + Net change in classified loans l/ -26.7 +1,089.2 + 48.1 +3,929.2 Unclassified changes - net -57.3 + 51.8 + 49.9 - Net change in commercial and industrial loans -84.0 +1,l4l.O + 98.0 +3,564.0 l/ See footnote on preceding table regarding current coverage. 49.5 214.3 365.2