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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) October 14, 1959 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Commercial and industrial loans increased $21 million at all reporting member banks during the week ended October 7• The principal net increases were $43 million each in loans to the wholesale and retail trade and to commodity dealers and $21 million to "other" types of business. The larger offsetting net decreases were $21 million in loans to public utilities, $17 million to manufacturers of metals and metal products, $14 million to manufacturers of textiles, apparel, and leather products, and $22 million to unclassified borrowers. 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 Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, and rubber Other manufacturing and mining Week ended Oct. $/ Cumulative since mid-year July 1, 1959 July 2, 1950 tO y tO Oct. 7, 1950 Oct. 8, 1958 (In millions of dollars) - 319 116 160 +283 - 56 -413 + 8 - 8 + + 138 70 + 3 - 21 Trade—wholesale and retail Commodity dealers Public utilities and transportation Construction All other types of business +43 +43 -21 - 1 +21 + + + 125 276 312 2 100 +116 +215 + 46 + 60 +188 Classified changes - net Unclassified changes - net +43 -22 +1,092 74 +420 - 80 Net change in commercial and industrial loans +21 +1,018 +340 -11 -i4 -17 + + - - Note: Cumulative figures in the last column are not strictly comparable with current figures because of revised loan classification beginning with week ended July 8, 1959. p/ Preliminary. In addition to the weekly table, a monthly table is attached showing changes during September compared with the preceding month and with September 19$8, and also showing changes during the past twelve months. Most of the major changes in industrial classifications were in the same direction as in August. Exceptions were in loans to manufacturers of textiles, apparel, and leather products, to "other" manufacturing and mining concerns, and to the construction industry which decreased in September in contrast to increases in August; and in loans to "other" types of business which increased in contrast to a decrease in the preceding month. Loans to manufacturers of food, liquor, and tobacco products and to public utilities showed the largest monthly increases since October 1956 and June 1957, respectively. CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, OCTOBER 7, 1959 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 All DisBoston trictsP/ St. Phila- Cleve- RichAtlanta Chicago mond delphia land Louis (In millions of dollars) New York 1.4 .8 -14-4 -10.2 - .9 - 9-7 - .1 — - .5 - .9 +2.5 - *3 + 4.0 + .1 + 1.7 + .8 2.5 - 6.2 + 2.4 + 1.8 +1.0 + .1 - .6 - 1.4 -2.8 - 2.4 -1.2 + .1 - .7 - .8 + -5 + .8 + 3.4 |+42.8| .4 + 2.0 - 1.3 +27.3 - .9 +1.0 + .5 .5 +1.0 + .2 Commodity dealers +43.1 + 1.1 +33 - .4 - 4.0 +1.4 + .8 Public utilities (including transportation) -21.3 - 2.1 -10.5 +1.5 - .6 + .1 - .7 Construction - 1.0 + »5 + »7 + ml + *2 - *3 All other types of business +20.7 + el + l4 eO ~3»2 + 1.5 +4.3 Net change in classified loans l/ +43.3 + .6 +37.0 -5-3 -16.3 Unclassified changes - net -22.3 -12.6 -19.0 Net change in commercial and industrial loans +21.0 -12.0 +18.0 Trade: Wholesale Retail -10.9 -13.5 -16.5 + 7.9 — 8.0 + - Minne- Kansas San FranDallas apolis City cisco]?/ + .8 - .3 +1.5 + .1 + 2.3 + •3 -1.4 - .1 + .4 - .5 - -5 - .1 +2.4 + .1 + *5 .7 + *1 +1*1 + *6 +3*4 *9 +1*4 + .5 +3.2 + 4.5 - 1.7 - 9*0 + *2 + •9 - .7 + 1.3 + 1.2 - *4 - .3 -1*3 -1.1 - -1*6 + 2.4 - 1.6 +1.3 +1.8 + 1.7 +3.5 + .6 +17.3 •12.0 +4.1 +3.6 +5.9 + 4.3 - .7 + 4.3 -4.5 + .4 - 4.3 • 1.0 +1.9 +1.4 +1.1 +10.7 -6.0 -1.0 +1.0 +13.0 -13.0 +6.0 +5.0 +7.0 +15.0 -12.0 3.2 2.7 +1.7 - .3 •7 .2 •3 • + 2.1 - 6.0 + •5 .6 + 6.2 •¥ - + + - + 5-1 - 4.3 •7 2.4 M • "5 -3 j>/ Preliminary; final totals vri.ll 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 banks 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. CHANGES IN COMMEBCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY H.12(b) 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 Sept. 30, 1959 4 weeks 4 weeks ended ended Aug. 26, 1959 Sept. 24, 1958 (In millions of dollars) 12 months ended Sept. 30, 1959 +275-5 5.8 +115.0 + 84.7 +167.0 — 12.0 + + 178.9 135.2 -157.2 +101.4 - 25.8 8.1 + 21.8 + 31.0 + to.3 + 33.1 + 23.1 + + 669.2 18.5 138.1 + 4o.4 + 36.0 + 70.8 + 451.4 Commodity dealers +103.0 + 86.2 + 36.1 + 124.8 Public utilities (including transportation) +267.6 + 19.1 + 73.1 + 485-7 Construction — 9.0 + 9-9 + 22.4 + 94.7 All other types of business + 22.6 - 14.6 + 70.1 + 232.0 Net change in classified loans 1/ +612.7 +381.0 +524.0 +2,491.5 Unclassified changes - net -109.7 + 10.0 - - Net change in commercial and industrial loans +503.0 +391.0 +520.5 Trade — wholesale and retail 3-5 76.2 +2,415-3 1/ See footnote on preceding table regarding current coverage and Note on first page regarding comparability with prior figures.
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