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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM B.12 (For Immediate Release) November 12, 1958 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY A net increase of $72 million in loa.ns to manufacturers and producers of petroleum, coal, chemicals, and rubber products was the principal factor in the net increase of $104 million in commercial and industrial loans at weekly reporting member banks during the week ended November 5 * Other net increases were $34 millioc in loans to the wholesale and retail trade, $24 million to manufacturers of metals and metal products, $23 million to manufacturers of food, liquor, and tobacco products, and $22 million to sales finance companies. The larger offsetting net decreases were $31 million in loans to public utilities and $23 million to "other" manufacturing and mining concerns. Changes in loans during the week and since mid-year are shown below} the third column shows the changes during the comparable period last year. Business of Borrower Week ended Nov. 5-£/ Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, and rubber Other manufacturing and mining Trade—wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business Cumulative since mid-year June ~2B, 1957 June 25, 1958 to to , Nov. 5» 19582/ Nov. 6, 1957 (In millions of dollars]" + 23 - 19 + 24 +372 -164 -576 +302 -123 + 72 - 23 + 10 - 76 + 26 - 67 34 7 22 31 3 10 +168 +314 + 13 + 59 +214 +211 +311 -503 - 46 - 23 - 26 -211 -500 Classified changes - net Unclassified changes - net + 97 + 7 +124 -145 -438 -358 Net change in commercial and industrial loans +104 - 21 -796 g/ Preliminary; see footnote on attached table. In addition to the weekly table, a monthly table is attached showing changes during October compared with the preceding month and with October 1957, and also showing changes during the past twelve months. Most of the changes during October were in the same direction as in October 1957# although the current month showed a small net increase in commercial and industrial loans in contrast to a sizable decrease last year. Loans to the construction industry and to "other" types of business increased in contrast to a decrease during October 1957* The current increase in loans to manufacturers of food, liquor, and tobacco products was the largest monthly increase in this business category since October 1956 and the increase in the commodity dealers category was the largest since August 1957* CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, NOVEMBER 5, 1958 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 All DisNew Phila- Cleve- RichSt. Minne- Kansas San FranBoston Atlanta Chicago tricts VJ York delphia land mond Louis apolis City Dallas cisco E/ (In millions of dollars) + 22.7 - 18.7 +2.8 -1.1 + 4.0 - 9.4 +1.5 -1.5 - 1.3 - .1 + .1 -2.5 +1.0 - .9 + 9-0 - 2.2 +2.6 - .3 -1.4 - .1 + .8 + .1 +1.3 + .1 + 2.3 - .8 + 23.9 + 72.1 - 22.6 + .1 - .7 -2.6 +17.8 +56.4 -12.3 + .1 - .7 -1,9 +1.9 + 2.4 - 1.7 + .6 - .1 - .3 + .1 + .9 + .6 + 2.3 + 7.5 - 3.8 -2.3 + .6 - .6 - .2 - .7 — •1 + .6 + .6 + .6 +5.2 - .8 + 3.0 + -7 + .2 ( , Oh (0 + .2 £+ - .3 + 3.2 + 4.8 + .1 - .1 + - .4 .2 + .6 +1.8 -t4.4 +1.1 + 2.5 + 3.0 + .6 + .2 + .2 + .3 ( . J + .1 C 5 - 4 ) + 4.1 + 1.6 — — - - Commodity dealers + 7-3 + .3 + 3.3 - .3 - .3 + .9 +1.6 + 1.9 -3.2 + .6 -1.0 +2.0 + 1.5 Sales finance companies + 22.3 -2 • 0 +24.9 +1.2 + .2 +3.6 -3.2 + 5.7 -2.7 -3.3 +3.2 + .5 - 5.8 Public utilities (including transportation) - 31.1 +4.2 -24.3 + .2 -13.6 — .1 + .1 + 1.7 +1.2 + .3 - .2 - .2 - .4 Construction - 2.8 w - 3.6 +1.0 - .2 + .3 - .8 + .1 + .1 + .1 - .3 + .7 All other types of business - 9.9 -18.0 + .9 - 3-1 +2.2 +2.1 +10.3 + .6 - .1 -1.0 -9.0 + 5.2 +7.0 +38.0 -3.4 -4.4 +3.4 +4.8 +12.3 + 2.0 +1.4 -1.6 - .4 + .2 +23.7 +40.0 -2.0 -6.0 +3.0 +5.0 +36.0 e2 " Net change in classified loans l/ + 97.2 + .7 +46.8 + -5 -15.6 +7.1 Unclassified changes - net + 6.8 -1.7 -18.8 -1.5 + 6.6 -3.1 Net change in commercial and industrial loans +104.0 -1.0 +28.0 -1.0 - 9.0 +4.0 — — +7.0 — 33/ 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 210 weekly reporting member "banks are reporting changes in their larger loans as to industry; these tanks hold about 95 per cent of total commercial and industrial loans of all weekly reporting member banks and about 75 per cent of those of all commercial banks. H.12(b) CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS Of A SMU'LE 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 5 weeks ended Oct. 29,1958 5 weeks 4 weeks ended ended Sept. 24, 1958 Oct. 30, 1957 (In millions of dollars) 12 months ended Oct. 29, 1958 +194.5 -125.9 +167.0 - 12.0 +125.2 -136.6 - 265.4 107.2 -197.3 - 34.4 - 59.5 + 40.3 + 33.1 + 23.1 - 49.5 - 21.0 - 76.3 - 490.2 64.4 3.4 Trade — wholesale and retail +133.1 - .2 +145.1 - 233.2 Commodity dealers +152.4 + 36.1 + 88.7 + 174.5 Sales finance companies - 79-3 - 87.5 -409.5 - 692.3 Public utilities (including transportation) +103.5 + 73.1 + 6.3 + 77.1 Construction + 2.3 + 22.4 - 36.9 + 91.5 All other types of business + 69.2 70.1 - 74.5 + 361.3 Net change in classified loans l/ +158.6 +365.5 -439.0 -1,151.7 Unclassified changes - net -120.6 £/- 3.5 -224.0 - Net change in commercial and industrial loans + 38.0 I/+362.0 -663.0 -1,573.0 TJ Revised. 1/ See footnote on preceding table regarding current coverage. 421.3
@FedFRASER