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t BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM 1 H.12 (For Immediate Release) October 17, 1956 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Net decreases of $202 million in loans to sales finance companies, $4l million to manufacturers of metals and metal products, and $13 million to the construction industry were largely offset by increases of $63 million in loans to commodity dealers, $59 million to manufacturers of food, liquor, and tobacco products, $48 million to the wholesale and retail trade, $35 million to public utilities, $18 million to manufacturers and producers of petroleum, coal, chemicals, and rubber products, and $11 million to "other" types of business. The net decrease in commercial and industrial loans at weekly reporting member banks during the week ended October 10 was $15 million. The decrease in loans to sales finance companies was the largest weekly decrease in this business category since the second week in January and was reflected in all but two districts; these loans have decreased $423 million since mid-year as compared with a decrease of $4 million during the corresponding period last year. 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 , Oct. 10E' Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, & rubber Other manufacturing and mining Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction Other types of business + 59 + 1 - 4l Cumulative since mid-year June 27, 1956 June 29, 1955 to , to Oct. 10, 1956— Oct. 12, 1955 (In millions of dollars) + + - 353 93 331 379 154 + 18 + + + 48 + 116 434 423 + 164 25 + 154 + 4 + 63 -202 + 35 - 13 + 11 Classified changes - net Unclassified changes - net + Net change in commercial and industrial loans - 15 - 18 3 + + 200 + 181 + + 67 67 + 7 + 200 + 284 4 + 5 + + 76 281 - 102 +1,363 l/- 68 + 967 1/+1,295 +1,069 p/ Preliminary; see footnote on attached table. l/ Prior to 1956, unclassified changes and total net change included changes in agricultural loans. CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK EIJDED WEDNESDAY, OCTOBER 10, 195& 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 S Boston toicts J/! New York St. Phila- Cleve- RichChicago Louis Atlanta mond delphia land (In millions of dollars) + 1.1 + .4 + 28.9 - .3 -1.1 + 4.0 - .3 + 2.4 - .1 - 40.7 + 18.3 -2.8 +1.1 +2.3 - 8.7 + 1.4 + 58.7 + - 32.3 + 14.6 - .1 + .2 -1.4 + 1.5 + .4 — +13.1 - .3 + 5.5 — - .7 - .1 - .9 + .9 +4.8 - .8 +2.0 +1.3 + 3.1 - .4 - .4 -1.1 - 1.0 - 3.2 + .6 +1.4 .7 + . 3 +1.1 ( .9 - .3 +1.2 (-l.Oj 42.3 + 1.2 + .5 + .1 + A - 1.9 + 4.8 + .7 + l.l + + .1 +1.8 +2.0 + .3 +1.2 -1.6 +7.1 -1.0 - .4 -1.2 - -3 - .6 -6.5 + 6.0 + .4 +1.5 + .3 + .4 +4.5 + .8 - 4.2 - .4 -1.2 -1.5 -2.5 +1.7 - .7 + 1.6 - 2.3 - .7 - .1 +1.0 -3.0 -20.7 +1.2 +10.2 + 1.9 +22.5 - .7 46.3 +7-0 - .3 + 7.7 -1.2 - .3 - .2 - - + - .3 - .3 -1.0 -21.0 +1.0 +10.0 -1.0 46.O Commodity dealers + 62.9 +3.3 + 22.9 +1.0 + 1.6 +2.3 + 2.1 + 6.0 +18.0 Sales finance companies -202.2 -6.3 -137.1 -7.2 -24.7 + .4 + 1.9 -20.2 Public utilities (including transportation) + 3^.9 + .4 + 16.8 + .9 + 4.0 - .2 - .1 Construction - 12.8 - .1 4.5 + .1 .2 - .8 All other types of business + 10.8 -3.7 + 19.7 -2.5 + lA Net change in classified loans l/ - IT-5 - .7 - 41.7 -2.8 Unclassified changes - net + Net change in commercial and industrial loans - 15.0 2.5 +1.1 + .1 +1.0 + 20.5 ) 46.8 + 4.0 +2.4 ( M + .4 San FranMinne- Kansas apolis City Dallas cisco P/ - 34.0 -4.0 .2 .9 + 1.0 + .1 .5 -2.0 +23.0 -2.0 +7.0 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.
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