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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H. 12 (For Immediate Release) November 13, 1957 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY The net change in commercial and industrial loans at weekly reporting member banks during the week ended November 6, was a decrease of only $3 million. The larger decreases were $46 million in loans to manufacturers of metals and metal products, $13 million to public utilities, and $12 million to "other" types of business. Offsetting net increases included $37 million in loans to commodity dealers, $15 million to manufacturers of food, liquor, and tobacco products, and $13 million to manufacturers and producers of petroleum, coal, chemicals, and rubber products. 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. 6£/ Cumulative since mid-year June 26, 1957 June 27, 195& to , to Nov. 6, 1957s/ Nov. 7, 1956 (In millions of dollars) Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, and rubber Other manufacturing and mining +15 -10 -46 +302 -124 ->06 + + - 554 14 312 +13 -10 + 26 - 63 + + 462 104 Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business +10 +37 + 1 -13 + 1 -12 +205 +306 -501 - 40 - 22 - 23 + 249 + 571 - 503 + 177 40 + 151 Classified changes - net Unclassified changes - net -15 +12 -440 -356 +1,426 - 179 Net change in commercial and industrial loans - 3 -796 +1,247 p/ 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 1956, and also showing changes during the past twelve months. Although changes during October were in the same direction as in October 1956 in all but one of the industrial classifications, current decreases were generally larger and the increases smaller, and net change was a decrease instead of an increase as reported in October 1956. The decreases in loans to "other" manufacturing and mining and to sales finance companies were the largest monthly decreases in these categories since the series was started in 1951J and the decrease in loans to manufacturers of textiles, apparel, and leather products was the largest since October of that year. CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT WEEK ENDED WEDNESDAY, NOVEMBER 6, 1957 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 +14.8 - 9-8 +1.7 + 7-3 -3.0 - 6.9 + -3 - .1 -2.1 - .7 - .6 +1.4 + -7 - .9 + 1.0 + 2.4 + .9 +1.2 - 2.0 - .2 + 3.7 + + .1 - -46.4 +12.9 - 9-8 -1.8 -27.0 - -3 +13.7 -1.0 - 1.0 -4.9 + .2 - .5 +1.1 -1.6 - .9 -1.5 + -5 - .1 -1 • 2 -13.2 + .5 - -9 - .3 - 2.3 - 1.8 +2.4 + l.l + .2 ~ 3*1 — • 2 - 1.6 + 3.0 + .4 + .5 + .7 - .8 - .5 - 2.5 +2.8 + 8.8 + .6 -f • 1 - -5 + .6 +1.0 + •1 - 2.9 - 1.4 + 2.5 + .k + .4 + .8 + + - .1 +2.0 + 2.7 + 1.6 -3.4 + 1.6 + 3-6 + ( J (+io.3) +1.0 - — .7 .1 + .2 + .1 - 1.4 - .3 .4 ( , ) + 1.5 .2 ( - 4.1) + 1.0 Commodity dealers +36.7 +2.3 +17.0 +1.0 Sales finance companies + 1.0 -2.3 -17.5 + .2 -+6.6 +1.0 -1.3 +13.6 - 7-4 -1.2 Public utilities (including transportation) -12.9 -3.1 .6 -3-2 -1.4 + .1 + .5 - 4.7 - .3 + .6 - Construction + .8 + .5 - 2.0 + .2 -1.5 - .1 -1.0 + 2.4 - .2 - .7 - l.l + 3.1 + 1.2 All other types of business -12.1 + .3 -17.6 +1.7 -2.9 +1.5 + .8 - - 2.4 + • 3 + .8 + 4.4 + 1.8 Net change In classified loans l/ -14.5 -4.4 -27-1 -4.4 -2.9 +3.7 - .1 - 4.1 -10.7 + Trade: Wholesale Retail St. Minne- Kansas San FranNew Phila- Cleve- RichlAll Districts p/1 Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas cisco p/ (In millions of dollars) +16.1 Unclassif ied changes - net +11.5 - .6 + .1 +1-4 -1.1 -3.7 - .9 + 4.1 + Net change in commercial and industrial loans - 3.0 -5.0 -27.0 -3* 0 -4.0 .8 -1.0 .4 .8 — + 8.7 + 4.9 - 1.6 00 + + 3.3 +10.8 .7 -2.2 + 2.6 + 2.2 + 8.9 -10.0 -2.0 +11.0 +13.0 +25.0 + .2 " 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. 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 those of all commercial banks. 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, 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. 30, 1957 4 weeks 5 weeks ended ended Sept. 25, 1957 Oct. 31, 1956 (In millions of dollars) 12 months ended Oct. 30, 1957 +125.2 -136.6 +173.8 - 47.5 +289.6 - 76.7 + + 153.6 12.5 - 49.5 - 21.0 - 76.3 - 42.9 + 62.2 + 2.6 - 96.7 + 51.7 - 45.4 + + + 744.2 333.9 122.6 Trade — wholesale and retail +145.1 + 61.8 +170.2 + 146.1 Commodity dealers + 88.7 - 16.5 +208.4 - 68.6 Sales finance companies -409.5 +183.7 -304.8 + 439.9 Public utilities (including transportation) + + 32.6 +101.6 + 653.1 Construction - 36.9 + .1 - 24.3 - 64.8 All other types of business - 7li.5 + 19.9 - 13.6 12.1 Net change in classified loans l/ -459.0 +429.8 +260.0 +2,460.4 Unclassified changes - net -22k.0 - 45.8 - 57.0 - Net change in commercial and industrial loans -663.O +384.0 +203.0 +1,855.0 1/ See footnote on preceding table regarding current coverage. 6.3 605.4
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