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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H«12 (For Immediate Release) November 6, 1951 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS, BY INDUSTRY AND PURPOSE The $1? million decrease in commercial, i n d u s t r i a l , and agricultural loans at weekly reporting member banks for the week ended Octo_^e£,_2.E. resulted from substantial decreases in loans to manufacturers of t e x t i l e s , apparel, and leather, to sales finance companies, and in unclassified loans. These were largely o f f s e t by continued increases in loans to processors and distributors of food products. The decrease of $50 million to manufacturers of t e x t i l e s , apparel, and leather was the largest weekly decrease since loans in t h i s i n d u s t r i a l c l a s s i f i cation began to decline in July# Unclassified loans continue to show decreases, indicating that the i n d u s t r i a l categories showing decreases are understated and those showing increases are being overstated. The increase of $56 million in loans to commodity dealers was the largest of i t s 13 consecutive increases, but the increase of million in loans to manufacturers of food, l i q i o r , and tobacco products was not quite as large as in other recent weeks* Changes in loans c l a s s i f i e d by type of business, during the week since mid-year and since the end of March when the sample of the largest banks began reporting these data, were as follows; Business of Borrower Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum and other Trade — wholesale and r e t a i l Commodity dealers Sales finance companies Public u t i l i t i e s and transportation Construction and other Classified changes Unclassified changes Net changes i n commercial, indust r i a l , and agricultural loans Week ended Since Since October 2k June 27 March 28 (In millions of dollars) kk 50 7 7 1 56 Ik 9 11 +191 -190 +531 +12U + 39 +335 - 66 +283 - 75 +21*8 - 75 +807 vZ32 +101 - 87 - 3 +157 - 23 + 32 - L9 +1,471 -219 +1,657 -387 - 17 +1,252 +1,270 + + + + - In the c l a s s i f i c a t i o n as to purpose shown in the attached table, loans f o r defense and non—defense purposes were evenly divided. CHANGES IN COMMERCIAL AND INDUSTRIAL IflANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BY INDUSTRY, PURPOSE, AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, OCTOBER 2k, 1951 (In m i l l i o n s of d o l l a r s ) A l l New P h i l a - Cleve- RichBusiness of Borrower D i s t r i c t s Boston York delphia land mond Atlanta Chicago Manufacturing and mining t Food, l i q u o r , and tobacco +1+1+.3 + 2 , 9 +21;,2 + • 1 + . 6 + . 8 + .1 +13.9 T e x t i l e s , apparel, and l e a t h e r -50.3 - 1+.9 - 3 2 . 1 - 2 . 5 - 1.1+ + . 3 + . 1 6.It Metals and metal products (including BANKS H. 12(a) machinery & t r a n s p o r t a t i o n equipment) Petroleum, c o a l , chemicals, and rubber Other manufacturing and mining Trade; Wholesale Retail Commodity d e a l e r s S a l e s finance companies 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 ) Construction A l l other types of b u s i n e s s r 8 -) +55.6 -13.9 + 8.8 - 7.6 - 3.1+ + - .6 .1 2.h + 3.U + l.l - 3.1 1.8 - .3 + .7 + 1.3 + 1.0 - i.l+ - .3 + .9 - .3 - 2,1; + 2,1 +19.7 -10,5 +15.9 - .7 - 9.9 •1 - .2 .2 .9 + .3 •3 - 1-7 .7 + .1+ + 1.7 - 3.3 + .6 .1+ + - 2.0 - - — 2.1 + 1.1 - 1.1 + - - 2.7 + 7.7 - 1.5 -1+9.5 - 1+.3 -30.7 - 3.5 -17.0 - 7.0 -23.0 - - - 1.7 + .3 +11.7 + 5.2 + - .2 .3 +11.5 + 3.1+ + + •2 1.5 + *20.5 - 3.3 + .3 .7 - 2,5 .6 - 1.8 + .7 - 2.0 + .7 - .2 - 1*8 .5 1.9 - 1.2 - + mmm + +32.5 5.0 — m* mm rH cu 1 Net change of c l a s s i f i e d l o a n s V To balance w i t h net change i n weekly reporting s e r i e s 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 Purpose C l a s s i f i c a t i o n Defense c o n t r a c t s Defense-supporting a c t i v i t i e s : Plant and equipment A l l other Non-defense a c t i v i t i e s t Inventory and working c a p i t a l Plant and equipment Retirement o f non-bank debt and preferred s t o c k A l l other (for loans c l a s s i f i e d ) + 7.1 + .5 - 7.8 + - 1.0 el .3 .2 .1 .1 .3 .5 + + .7 .5 .8 + 2.6 - 1.1+ 1.1 + .8 - 2.8 - .9 - 1.8 + .2 - .2 1.0 .9 + + + + .6 It.2 2.6 1.3 3.2 3.7 .7 - .7 +13.0 - 1.6 + .8 + .6 + .7 •i .3 .2 + 2.7 - 1.2 + .2 - .9 + 6.1 + S t . Minne- |Kansas San Louis apolis C i t y Dallas Francisco 1.5 + 8.2 + 8.6 +11.5 - 5.5 - 1.2 - It.6 + 1.0 - l+.o + 7.0 + l+.o +12.0 + 1.1+ - .8 - .7 + 2.8 - 1.8 + 1.2 .1 + .1 .6 + 1.1+ + 1.3 - 2.1 .1 - .6 + 3.7 +11+.6 + *3 1.0 - 2.9 mm mm - + + .2 + 1.5 .5 - + .5 .1 __ mm mm .3 .1+ .8 + 1.1+ .9 + + .1 - .5 - .3 - 1.1 .1 - .3 + 2.i| + .3 - - .8 .7 .2 ( r 2*0 .1 - 1.2 + #1+ .3 ,lt - 1.5 - .8 - .8 + .1 - 1.0 + .2 + .3 - 1.9 - 1,6 - 1.6 - 2,5 + 9.7 - 7.1+ • It + lw 5 + 2.3 - It.6 +12. 0 -12.0 + .1 + 2.0 + + + .8 - 2.0 + 2,0 - .1 ) * ) +11.3 5 + .2 -- - .1+ - 3.0 + 5.3 + 1.6 - 7.5 - .8 — 2.8 - 1.1 — 1.6 - + .9 .1 +11,1 - .5 - 2,0 - 3.3 + 6.2 .2 + . 5 —— - 1.6 - 1.0 - 1.5 : i Net change of c l a s s i f i e d l o a n s V + 8.2 +32.5 - 2 , 7 + 7.7 - 1.5 + 1.0 + 1.5 + 8 . 6 +11.5 9.7 - 7.4 About^ 220 weekly rr ee pp oo rr tt ii nn gg member banks a r e 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 t o i n d u s t r y and purpose; t h e s e banks hold n e a r l y 95 per Digitized for enFRASER o o a oommei c i a l and i n d u s t r i a l l o a n s o f a l l weekly r e p o r t i n g member banks and about 75 P e r c e n t o f t h o s e of a l l commercial b a n k s # - .4 +