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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
H.12

(For Immediate R e l e a s e )

October 9, 1951

CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS, BY INDUSTRY AND PURPOSE
I n c r e a s e s i n l o a n s t o m a n u f a c t u r e r s of f o o d , l i q u o r , and t o b a c c o p r o d u c t s , t o m a n u f a c t u r e r s of m e t a l s and m e t a l p r o d u c t s , t o commodity d e a l e r s , and
t o p u b l i c u t i l i t i e s ( i n c l u d i n g t r a n s p o r t a t i o n ) caused t h e ^litO m i l l i o n i n c r e a s e
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 l o a n s a t weekly r e p o r t i n g member
banks d u r i n g t h e week ended September 26. The l a r g e s t o f f s e t t i n g d e c r e a s e was
i n l o a n s t o s a l e s f i n a n c e companies. Defense l o a n s i n c r e a s e d $.83 m i l l i o n and
n o n - d e f e n s e l o a n s i n c r e a s e d ^65 m i l l i o n d u r i n g t h e week.
Changes i n l o a n s c l a s s i f i e d by t y p e of b u s i n e s s , d u r i n g t h e week and
s i n c e t h e end of March, were a s f o l l o w s :
Week
Change
ended
since
B u s i n e s s of Borrower
September 26
March 28
( I n m i l l i o n s of d o l l a r s )
M a n u f a c t u r i n g and m i n i n g :
Food, l i q u o r , and t o b a c c o
T e x t i l e s , a p p a r e l , and l e a t h e r
M e t a l s and metal p r o d u c t s
P e t r o l e u m and o t h e r
Trade — w h o l e s a l e and r e t a i l
Commodity d e a l e r s
S a l e s f i n a n c e companies
P u b l i c u t i l i t i e s and t r a n s p o r t a t i o n
C o n s t r u c t i o n and o t h e r
T o t a l changes c l a s s i f i e d

lilt
10
50
3
10
35
23
1*8
9

- 12
+ 38
+727
+220
+ 85
-279
- 38
+393
+ 15

+1U8

+1,11:9

+
+
+
+
+
+
-

I n a d d i t i o n t o t h e u s u a l t a b l e showing changes f o r t h e week by i n d u s t r y
of b o r r o w e r , p u r p o s e of l o a n s , and F e d e r a l R e s e r v e D i s t r i c t , t h e r e i s a l s o
a t t a c h e d a summary t a b l e showing t h e changes d u r i n g t h e f i r s t s i x months t h a t a
sample of t h e l a r g e s t b a n k s have been r e p o r t i n g t h e s e d a t a a t t h e r e q u e s t of t h e
N a t i o n a l V o l u n t a r y C r e d i t R e s t r a i n t Committee.
The changes d u r i n g September were s i m i l a r t o t h o s e d u r i n g August.
There were s u b s t a n t i a l i n c r e a s e s i n l o a n s t o m a n u f a c t u r e r s of f o o d , l i q u o r , and
t o b a c c o p r o d u c t s and t o commodity d e a l e r s , c o n t i n u i n g t h e s e a s o n a l borrowing by
t h e s e p r o c e s s o r s and d i s t r i b u t o r s t o f i n a n c e t h e crop movement. However, t h e
i n c r e a s e i n l o a n s t o t h e w h o l e s a l e and r e t a i l t r a d e was nominal a s compared t o
t h e i n c r e a s e i n A u g u s t . The i n c r e a s e s i n t h e s e i n d u s t r i a l c l a s s i f i c a t i o n s caused
t h e i n c r e a s e s i n n o n - d e f e n s e l o a n s d u r i n g August and September.
Loans t o m a n u f a c t u r e r s of m e t a l s and m e t a l p r o d u c t s and t o p u b l i c
u t i l i t i e s ( i n c l u d i n g t r a n s p o r t a t i o n ) i n c r e a s e d d u r i n g September, a s t h e y had i n
e v e r y p r e v i o u s month. These l o a n s , many of which a r e f o r d e f e n s e c o n t r a c t s o r
d e f e n s e - s u p p o r t i n g a c t i v i t i e s , have a c c o u n t e d f o r t h e i n c r e a s e s i n d e f e n s e l o a n s
e v e r y month.
Loans t o m a n u f a c t u r e r s of t e x t i l e s , a p p a r e l , and l e a t h e r i n c r e a s e d i n
n e a r l y e v e r y week u n t i l m i d - J u l y , b u t s i n c e then t h e r e h a s been o n l y one weekly
increase.




ChANGrES IN COMMSRC 1AL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS
BY INDUSTRY, PURPOSE, AND FEDERAL RESERVE DISTRICT,
WEEK ENDED WEDNESDAY, SEPTEMBER 2 6 , 1951
( I n m i l l i o n s of d o l l a r s )
All
New
P h i l a - ICleve
RichB u s i n e s s of Borrower
S t . Minne- Kansas
San
A t l a n t a Chicago
Dallas
Districts
York d e l p h i a l land
mond
Louis a p o l i s
Francisco
M a n u f a c t u r i n g and miningt
F o o d , l i q u o r , and t o b a c c o
+ 2.U
+18.7 •
• 7 + . 6 4- 2 . 1
1.3
+ 6.5 + 3 . 9 + .8
.6
+11.9
.7
T e x t i l e s , a p p a r e l , and l e a t h e r
U.2 - 6 . 1
4- 2 . 3
4• 7 — .5
.8
- - 1.5
+ 1.2
•b
.5
~
M e t a l s and m e t a l p r o d u c t s ( i n c l u d i n g
machinery & t r a n s p o r t a t i o n equipment)
+ 1.9
+
—
+22wl
• 5 + 5 . 7 4- a
+16.1 + #6
.9
.1
+ 2.0
.1
P e t r o l e u m , c o a l , c h e m i c a l s , and r u b b e r
. 2 + 6.2 —
+
4+
. 6
•h
.5
l . l
4w 1.6
•5
.5
+ .3
.3
O t h e r m a n u f a c t u r i n g and m i n i n g
44—
• 5 - 3.7
.1
+ .9 - .6 .7
4. 1 4- .k
- .1
.7
Trade•
Wholesale
—
+ . 7 + . 7 4- . 7 . 1
.6
- .2 - • 5
.1
- 1.3
.7 (
J
Retail
+ 5. l
- . 1 + 2 . 1 4* . 3 4•8
+ l . l + •h 4- 1 . 3
.9
• 7 )
+ 1.9
.3
r
Commodity d e a l e r s
+35.3
—
1 . 6 +12.1
—
4- 2 . 0
+ l.l
. 9 4- • 9
+ 6.9
8 . 6 4- . 7 - 1 . 6
+ 7.1
S a l e s f i n a n c e companies
— 1.8
-23.3
•
- 5 . 9 - 2 . 9 4- 1 . 3 •
+
•3
Uh
.2
- 3.3 - 1.3 - 1.3 .3
- 6.3
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 )
4- 3 . 0
+28.1 4" L o + 2 . 0
——
_ .1
4- 3 . 0
+ 5.9 e l
.1
+ 2.5
Construction
+
- 6.0
+
- 4.li
4a
.2
• it - 1 . 2
+ 1.0
- 3.i* + . 2 m. . 6
- 3.1
A l l o t h e r t y p e s of b u s i n e s s
—
+
+
. i
- 3.6 .1 .1
+ »h + . 7 4- . 2 4- . 3
.5
.2
Net change of c l a s s i f i e d l o a n s ^ X
+ 5.5
+IZ18.O
+ 7 0 . 5 44.2
+2L.2 +10.8 4- 3 . 5 - 2 . 7
+ 1.9
- 8.8 + ii.o
+15.9
To b a l a n c e w i t h n e t change i n w e e k l y
reporting series
-8.0
- 2.5
- k.Q
-13.5
- 1.0
.2
•li
- 1.2 + 2 . 2 +11.1
. 5 4- 3 . 7
.9
Net change i n c o m m e r c i a l , i n d u s t r i a l ,
and a g r i c u l t u r a l l o a n s
+ 3.0
+lit 0 . 0
+ 5 7 . 0 + 2 . 0 + ii.O 4- 3 . 0
- + 2 3 . 0 + 1 3 . 0 4- 3 . 0 4- 1 . 0
+ U.o
+27.0
Purpose C l a s s i f i c a t i o n
H. 1 2 ( a )

mm mm

mm am

Defense c o n t r a c t s
Defense-supporting a c t i v i t i e s *
P l a n t and equipment
All other
Non-defense a c t i v i t i e s *
I n v e n t o r y and working c a p i t a l
P l a n t and equipment
R e t i r e m e n t of non-bank d e b t and
p r e f e r r e d stock
A l l other ( f o r loans c l a s s i f i e d )

4-

+28.0
+58.1

l.l

+22.5

+

, 1

+

3.7

+

.1
.3

+17.8
+ 8.1*

4-

L0
•7

+

4-

3.h
1.2

.9
2.6

+25.1
+ 2.2

+

2.7
•3

-

4-

+
+

.3

4-

.8

-

.9

-

+

+

1.3
1.9

—

+

.2

+11.3

+

— mm

•

.7

+ 2.9
+ .2

+ •l
- 1*3

4-

+ 6.1
+ 1.7

+ 11,7

4-

-

4-

.5

+

3.5
.3

-

+
4-

1.1
.1

+ .1

.3

. 1

.1

+ 2.1
+ .3
+ 1.3

3.3
.1

+10.8
+ .2

.1

2.0
1.5
- -

1.0

- -

4-

—-

4-

1.9
.5

+

+
+

+
+ .9
.b
+
• ij.
- 1.3
Net change o f c l a s s i f i e d l o a n s V
+II18. 0
+ 5 . 5 +70.5 + 2.h
+
+2h.2
+10.8 + u . 5 J-* J . 7- <-. / l u 9^ <4*7 5 . 9"^7*7
2
+
+1
• /
•
> * *—•*•+ 8 .-8 + U.ON-o + . 2
^
i-a.we 3 T
1 / About
w e e k l y r e p o r t i n g 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 l o a n s as to i n d u s t r y and p u r p o s e ; t h e s e banks hold n e a r l y #5 p e r
# e n t 01 t o t a l commercial and i n d u s t r i a l l o a n s of a l l w e e k l y r e p o r t i n g member b a n k s and about 75 per c e n t of t h o s e of a l l commercial b a n k s .
Digitized forcFRASER


- U.6

-

.1

+

- .6

+ 2.0

+

.1

.8

H, 1 2 ( b )

ChAiNVtib il\l COMMERCIAL AND INDUSTRIAL LOAMS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS
BY INDUSTRY AND PURPOSE, FOR THE SIX MONTHS ENDED WEDNESDAY, SEPTEMBER 2 6 , 1951
( i n m i l l i o n s of d o l l a r s )
0 months
4 weeks
6 months»
B u s i n e s s of Borrower
ended
ended
totals
June 27
July 2 5
M a n u f a c t u r i n g and mining*
Food, l i q u o r , and t o b a c c o
- 11.7
-243.1
-128,4
T e x t i l e s , a p p a r e l , and l e a t h e r
+ 38.1
+115.6
+ 13.6
M e t a l s and m e t a l p r o d u c t s ( i n c l u d i n g m a c h i n e r y and t r a n s p o r t a t i o n e q u i p m e n t )
+726,, 9
+275.2
+ 78.0
P e t r o l e u m , c o a l , c h e m i c a l s , and r u b b e r
+ 90.1
+ 48.1
.1
Other m a n u f a c t u r i n g and m i n i n g
+129.8
+ 60.0
+ 22.3
T r a d e — w h o l e s a l e and r e t a i l
+ 8lu6
+ 62o0
- 98.3
Commodity d e a l e r s
-278.6
-421.2
- 34.8
S a l e s f i n a n c e companies
+ 62.6
- 38.4
- 55.8
Public u t i l i t i e s (including transportation)
+393.0
+174.8
+ 38.3
Construction
+
.3
+ 52.2|
15.4
A l l o t h e r t y p e s of b u s i n e s s
- 20.4
Net change of c l a s s i f i e d l o a n s
+1,149.2
+186.2
-185.3
To b a l a n c e w i t h n e t change i n w e e k l y r e p o r t i n g s e r i e s
-273.2
-168.2
- 76.7
Net change i n c o m m e r c i a l , i n d u s t r i a l , and a g r i c u l t u r a l l o a n s
+876,0
+ 18.0
-262.0
Purpose C l a s s i f i c a t i o n ^ /
D e f e n se c o n t r a c t s
Defense-supporting a c t i v i t i e s *
P l a n t and equipment
All other
Non-defense a c t i v i t i e s ;
I n v e n t o r y and working c a p i t a l
P l a n t and equipment
R e t i r e m e n t of non-bank d e b t and p r e f e r r e d s t o c k
All other ( f o r loans c l a s s i f i e d )
Net change of c l a s s i f i e d l o a n s j ; / HZ

5 weeks
k weeks
ended
ended
August 2 9 September 26
+151.8
- 54.0
+206,8
+
.1
+ 29.4
+113.2
+ 89.5
- 46,6
+ 76,6
+ 8.4
- 20.7

+208.0
- 37.1
+166,9
+ 42.0
+ 18,1
+ 7.7
+ 87.9
+ 1.4
+103.3
- 19.3
+ 14.9

+554.5
- 10.5
+544.0

+593.8
- 17.8
+576.0

+503.2

+246.2

+ 73.6

+ 80.4

+103.0

+391.5
+117.8

* 98.8
+ 53.9

+ 66.4
- 5.9

+152.2
+ 22.0

+ 74.1
+ 47.8

+169.3
+176,5
+ 11=7
- 60.2

-131.8
+134.0
- 10.6
- 47.4

-303.5

+258.4
+ 32.4
+ 9.8
.6

+346.2
+ 10.1
+ 1.3
+ 11.2

+ 11.2
- 23.4

+1,309.8
-181.6
+343.1
+554.6
+593.7
During A p r i l and*mos t ~o~f May t h e coverage was somewhat s m a l l e r *
<
*zJ During A p r i l and e a r l y May, many of t h e banks were c l a s s i f y i n g o n l y t h e new l o a n s , and not r e p a y m e n t s , as t o purpose* The purpose
c l a s s i f i c a t i o n , " D e f e n s e - s u p p o r t i n g a c t i v i t i e s " , was n o t g e n e r a l l y used p r i o r t o t h e week of May 16*

17

See f o o t n o t e on p r e c e d i n g t a b l e ~ r e gar d i n g c u r r e n t coverage*