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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H,12 (For Immediate Release) November 12> 1953 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY I n c r e a s e s i n loans of S32 m i l l i o n to commodity d e a l e r s , $18 m i l l i o n t o s a l e s f i n a n c e companies, and $16 m i l l i o n to the wholesale and r e t a i l t r a d e were p a r t l y o f f s e t by decreases of SlU m i l l i o n t o p u b l i c u t i l i t i e s , $12 m i l l i o n t o manufacturers of t e x t i l e s , a p p a r e l , and l e a t h e r p r o d u c t s , $10 m i l l i o n to manufacturers of metals and metal p r o d u c t s , and $9 m i l l i o n to " o t h e r " types of b u s i n e s s . The n e t i n c r e a s e i n commercial, i n d u s t r i a l , and a g r i c u l t u r a l loans a t weekly r e p o r t i n g member banks during the week ended November it was $llt m i l l i o n , The i n c r e a s e of $2 m i l l i o n to manufacturers of f o o d , l i q u o r , and tobacco products was the s m a l l e s t weekly i n c r e a s e i n t h i s business category since seasonal borrowings began i n August. The decrease i n loans to p u b l i c u t i l i t i e s was i n the New York D i s t r i c t j o t h e r d i s t r i c t s showed, nominal changes during the week. Changes i n loans during t h e week and since mid-year are shown below; the t h i r d column shows the changes during the comparable period l a s t y e a r : Business of Borrower Manufacturing and mining: Food, l i q u o r , and tobacco T e x t i l e s , a p p a r e l , and l e a t h e r Metals and metal products Petroleum, c o a l , chemicals, & rubber Other manufacturing and mining Trade — wholesale and r e t a i l Commodity d e a l e r s Sales f i n a n c e companies Public u t i l i t i e s & t r a n s p o r t a t i o n Construction Other types of b u s i n e s s Week Cumulative since mid-year ended / June 2Lu Corresponding November L— 1953 2/ p e r i o d , 1952 (In m i l l i o n s of d o l l a r s ) 2 12 10 6 7 +3i4t - 22 -252 + U3 - 2 +57U + 15 - 66 +162 + 67 + 16 32 18 - lh +135 +278 -235 + 55 +155 +593 +118 -103 + 23 +106 + — - + + mm mm W W - 9 + 79 C l a s s i f i e d changes - net U n c l a s s i f i e d changes - net + + 11 3 +U23 195 +1,614* + 56 Net change i n commercial, i n d u s t r i a l , and a g r i c u l t u r a l loans + lU +518 +1,700 p/ P r e l i m i n a r y ; see f o o t n o t e on a t t a c h e d t a b l e . In a d d i t i o n to the usual weekly t a b l e , a monthly t a b l e i s a t t a c h e d showing changes during October compared with the preceding month, w i t h October 1952, and w i t h the p a s t twelve months. Changes were i n the same d i r e c t i o n as i n September except i n p u b l i c u t i l i t i e s where loans i n c r e a s e d i n c o n t r a s t to a decrease i n the previous month. A d d i t i o n a l borrowings were made by commodity d e a l e r s , manufacturers of food, l i q u o r , and tobacco p r o d u c t s , the wholesale and r e t a i l t r a d e , and by manuf a c t u r e r s and producers of petroleum, c o a l , chemicals, and rubber p r o d u c t s . The i n c r e a s e s i n loans to commodity d e a l e r s and t o t h e wholesale and r e t a i l t r a d e were l a r g e r than i n the previous month, but l e s s than i n October 1952, The i n crease i n loans to manufacturers of f o o d , l i q u o r , and tobacco products was r e l a t i v e l y small as compared with both t h e previous month and a year ago October. October repayments by manufacturers of metals and metal products were small as compared with September and i n c o n t r a s t t o an i n c r e a s e i n October 1952; but r e payments by s a l e s f i n a n c e companies were heavy throughout October. I t has been estimated t h a t the new i s s u e of Commodity Credit Corporat i o n c e r t i f i c a t e s of i n t e r e s t on October 28, 1953, r e f l e c t e d i n the i n c r e a s e i n u n c l a s s i f i e d changes - n e t , accounted f o r a l a r g e p o r t i o n of the i n c r e a s e i n commercial, i n d u s t r i a l , and a g r i c u l t u r a l loans a t weekly r e p o r t i n g member banks http://fraser.stlouisfed.org/ during October, Federal Reserve Bank of St. Louis E. 1 2 ( a ) CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, NOVEMBER 1*, 1953 Business of Borrower Manufacturing and mining» Food, l i q u o r , and tobacco T e x t i l e s , a p p a r e l , and l e a t h e r Metals and m e t a l p r o d u c t s ( i n c l u d i n g machinery & t r a n s p o r t a t i o n equipment) Petroleum, c o a l , c h e m i c a l s , and rubber Other m a n u f a c t u r i n g and mining Trade % Wholesale Retail A l l Dis-y, t r i c t s P / Boston New York P h i l a - Cleved e l p h i a land Richmond A t l a n t a Chicago S t . Minne- Kansas San Fran—, Louis a p o l i s C i t y I D a l l a s cisoo P/ (In m i l l i o n s of d o l l a r s ) + 2.0 -12.2 - - 9. 8 — 6il -6,5 - .9 - .2 - 2.2 - .3 — 6,0 - 2,7 - £+16.14.: + 1,6 + .1 -9 .8 -io»3 - 5.7 + 1.5 - .1 - 1,1 - ,2 9; 8 1.6 - l;9 - .2 .7 .1 .3 - 7.9 - 1.2 + .3 + .1 - ,4 - U.o + 9.5 + *2 + 1.7 - 3*h .ii + 1.3 + 1,1 +Ui,6 + + 1,0 + 1,1 + 3.1 + — + + + mmmm ,U + .3 + .1 - ,8 Commodity d e a l e r s +31*8 S a l e s f i n a n c e companies +17,8 - »3 +32,2 - L,3 - *5 - l.o + .6 Public u t i l i t i e s (including t r a n s p o r t a t i o n ) -111. I * .3 -lii t 2i + ,5 + ,5 + .b - .6 Construction + + *8 - 1,4 - 1.6 - - .5 A l l o t h e r types of b u s i n e s s - 9.1 - 1,8 - 3.2 + - .7 + 1,7 Net change i n c l a s s i f i e d l o a n s * / *10.6 - 1|,3 *10.1 + 6,2 -15*2 U n c l a s s i f i e d changes - n e t * 3.Z; - 1.7 -19,1 + ,8 Net change i n commercial, i n d u s t r i a l , and a g r i c u l t u r a l loans +1I1.0 - 6,0 - 9,0 + 7.0 ,h ,7 .1 + 2.3 ,7 - 2,2 3.9 .8 .2 + - + *9 - ,6 + .7 ,1 — + ,1 .1 .it + .5 + .1 + .it - 2. 7 + 1.2 .3 -1,0 - ,5 4-1,5 .5 - + 2,2 *8 .7 ,1 • + * ,5 - l.U " *5 — - 2.ij. - + * - .2 .2 .2 + + - ( (+ 1.2 ,2 + - ,6 .1 ,8 3.2 + * ) ) i4 ,6 1.2 ,1 .8 - 1.8 +6,4 + k*l + 5.U - 3,5 - 1,2 - + 1.5 - *6 + ,6 - + 6,6 mk - ,2 + 2,2 - k»7 - 1.3 - 1.9 - .3 - 1.3 - 2,3 + 3.2 + 9,9 - 8,7 - " h»h + 1.2 + %h + 7*9 + 3.2 + 1,8 + 4.1 - 2,3 +11*7 - - ,2 - 1,4 + 7,1 -12,0 + 5,0 +lii.O -11,0 +11.0 - 5,0 + 1,0 + it,0 4-15,0 .5 ,1 ,7 ,6 .2 - ,1 p / P r e l i m i n a r y ; f i n a l t o t a l s w i l l appear i n t h e F.R, B u l l e t i n and San F r a n c i s c o D i s t r i c t f i n a l f i g u r e s appear i n a r e l e a s e of t h e Reserve Bank, l / About 220 weekly r e p o r t i n g member banks are r e p o r t i n g changes i n t h e i r l a r g e r loans as to i n d u s t r y ; t h e s e banks hold over 90 per c e n t of t o t a l commercial and i n d u s t r i a l loans of a l l weekly r e p o r t i n g member banks and n e a r l y 70 per cent of t h o s e of a l l commercial b a n k s e •i H.12(b) CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY Business of Borrower Manufacturing and mining: Food, l i q u o r , and tobacco T e x t i l e s , a p p a r e l , and l e a t h e r Metals and metal p r o d u c t s ( i n c l u d i n g machinery and t r a n s p o r t a t i o n equipment) Petroleum, c o a l , chemicals, and r u b b e r Other m a n u f a c t u r i n g and mining 4 weeks ended Oct. 28, 1953 5 weeks 5 weeks ended end's d S e p t . 30, 1953 Oct. 29, 1952 ( i n m i l l i o n s 1of d o l l a r s ) 12 months ended Oct. 28, 1953 +123.7 - 62.8 +248.4 - 13.9 +210.4 - 54.3 + 55.0 91.0 - 19-9 + 13.7 - 9.0 -158.9 + 39.1 - 4.2 +111.4 + 42.3 + 36.2 + + + 301.2 131.8 68.2 Trade — wholesale and r e t a i l + 84.1 + 55.2 +121.6 + 331.5 Commodity d e a l e r s +164,7 + 67.9 +261.6 - 272.2 S a l e s f i n a n c e companies -199.0 - 29.3 - .3 + 129.8 Public u t i l i t i e s (including transportation) + 23.1 - 13.2 - 59.7 + 233.2 Construction - 9.3 - 5.1 + 3.9 + 4.4 A l l o t h e r t y p e s of b u s i n e s s + 3-3 + 25.9 - 8,0 + 163.9 New change i n c l a s s i f i e d l o a n s ! / +112.6 +211.9 +665.1 +1,127.8 U n c l a s s i f i e d changes - n e t + 85.4 + + 9.9 - 283.8 Net change i n commercial, i n d u s t r i a l , and a g r i c u l t u r a l loans +198.0 +212.0 +675.0 + 844.0 \/ See f o o t n o t e on p r e c e d i n g t a b l e r e g a r d i n g c u r r e n t c o v e r a g e . .1
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