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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) September 11, 1957 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Net increases of $6l million in loans to sales finance companies, $33 mil lion to manufacturers and producers of petroleum, coal, chemicals, and rubber products, $14 million each to public utilities and to "other" manufacturing and mining were largely offset by decreases of $48 million in loans to manufacturers of metals and metal products and $l6 million to- commodity dealers. The net increase in commercial and industrial loans at weekly reporting member banks during the week ended September 4, 1957, was $52 million. 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 . Sept. 42/ Cumulative since mid-year June 27, 195E June 26, 1957 to to Sept. 5, 195f Sept. 4, 19572/ (in millions of dollars) +13 - 2 -48 + 2 + 68 -415 + 44 + 85 -296 +33 +14 + 5 + 34 +293 +133 Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business + 5 •16 +61 +14 + 2 -10 - 7 +182 -216 - 52 + 16 + 33 + 8 +264 - 84 + 40 - 6 +102 Classified changes - net Unclassified changes - net +66 -14 -350 -112 +584 - 79 Net change in commercial and industrial loans +52 -462 +505 p/ Preliminary; see footnote on attached table. In addition to the weekly table, a monthly table is attached showing changes during August compared with the preceding month and with August 1956, aQ d also showing changes during the past twelve months. Changes during August were in the same direction as in August 1956 in all industrial classifications except loans to manufacturers and producers of petroleum coal, chemicals, and rubber products. The August 1957 increases in loans to commodity dealers and to manufacturers of food, liquor, and tobacco products were seasonal and the largest monthly increases in these categories this year. H . 12(a) CHANGES IN COMMERCIAL AND INDUSTRIAL L O A N S OF A SAMPLE OF WEEKLY REPORTING MEFjBER BANKS B Y INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, SEPTEMBER 4, 1957 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 j New All DisBoston! tricts P / York St. Phila- Cleve- Richmond Atlanta Chicago Louis delphia land (In millions of dollars) -3 + .8 + .7 - Minne- Kansas San Franapolis City Dallas cisco Pz + 5.9 + .4 + 1.3 - 3-3 - .4 + .2 - .8 + .3 + -5 - .4 +1.7 - .8 -11.4 - -5 +1.5 + 1.0 + 3*2 - .3 -2.2 - .1 - .5 - .4 + .1 + .4 + .2 .4 - 1.4 + 1.0 .5 + .4 - -5 +1.0 + 1.1 + - .3 + -5 .4 -2.0 + .5 + 2.1 - .3 - .2 S-i.gj - 1.4 .1 + .5 - .8 + .1 - 9-2 +2.0 - .3 -2.4 + 1-7 +9-4 +10.4 + 3.8 +11.8 + 1.2 + .7 +19.6 + .1 +1.2 -1.0 +2.6 + -7 +14.3 - .4 + 7-2 - .2 + 1.8 + 5-6 +1.0 - .7 - .5 - .1 - .1 + -5 + .2 Construction + 2.0 - .3 +10.5 .4 - 2.4 + .4 - .7 - 1.0 - .3 - #1 - .3 -3.0 - .4 All other types of business -10.3 -1.9 - 6.4 - 3.0 - .9 + .4 -2.6 + - 1.3 - .2 + .7 +3-8 + .6 Net change in classified loans l/ +66.2 +2.5 +45.8 + 2.0 - 7-3 +12.5 -1.3 +19.8 -13.0 -1 * 2 -2.8 +1.0 + 8.2 Unclassified changes - net -14.2 -4.5 -12.8 -3 - 2.5 - .7 - .8 - 1.0 - .8 -2.2 -1.0 +11.8 Net change in commercial and industrial loans +52.0 -2.0 +33.0 + 2.0 - 7-0 +10.0 —2.0 +19.0 -i4.o -2.0 -5-0 +13-3 - 2.3 - .7 - .9 + .1 + 3.1 .3 + .8 + .8 - .7 -48.2 +33-3 +13.8 - .6 + .7 + .4 -18.2 + 2.3 -15.5 ~ +30.5 - .5 -1.4 - .2 +10.5 - .7 + .2 - .3 5 3 <• - > - .5 -1.4 - .8 + + 7-8 + Commodity dealers -15.5 -1.3 - 6.0 - Sales finance companies +60.5 Public utilities (including transportation) Trade: Wholesale Retail - - - + .3 + e .5 + 4.9 - .4 - 1.2 + .1 + 1.3 +20.0 1 I p/ Preliminary; final totals will appear in the F. R. Bulletin and San Francisco District final figures appear in a release of the Reserve BSDK. l/ About 210 weekly reporting aerrfoer tanks 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 /0 per cent of those of all commercial banks. H.12(b) CHANGES IN COMMERCIAL AND INDUSTRIAL LOAlvfS 07 A SAMPLE OF WEEKLY REPORTING MEMBER BAEKS 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 4 weeks ended Aug. 28, 1957 4 weeks 5 weeks ended ended Aug. 29, 1956 July 31, 1957 of dollars) (in millions 12 months ended Aug. 28, 1957 + 70.9 + 49.7 - 82,6 + 20.6 +114.9 + 47.7 + + 340.2 136.1 -138.3 - 1.2 + 10.8 -228.5 - 27.2 + 9.4 -138.8 + 54.1 + 59.8 + + + 756.2 571.6 170.7 Trade — wholesale and retail + 29.2 - 41.6 + 1.8 + 166.6 Commodity dealers +155.7 + 41.6 +107.6 + 148.1 Sales finance companies + 3.8 -280.2 +137.2 + 253.9 Public utilities (including transportation) + 17.2 - 83.4 + 52.0 + 772.4 Construction + 5.4 + 9.0 + 19.1 - 67.2 All other types of business + 45.8 - 2.5 + 85.9 + 55.8 Net change in classified loans l/ +249.0 -665.4 +541.3 +3,304.4 Unclassified changes - net + 24.0 -121.6 + - Net change in commercial and industrial loans +273.0 -787.0 +551.0 l/ See footnote on preceding table regarding current coverage. 9.7 432.4 +2,872.0
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