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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) September 29, 195^ CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS BY INDUSTRY Net decreases of $44 million in loans to sales finance companies and $24 million to manufacturers of metals and metal products were only partly offset by increases of $35 million in loans to commodity dealers and $21 million to manufacturers of food, liquor, and tobacco products during the week ended September 22. As a result, there was a $18 million decrease in commercial, industrial, and agricultural loans at weekly reporting member banks. The decrease of $7 million in the construction industry was the largest weekly decrease in this business category since January of this year. Following eleven consecutive weekly increases, loans to manufacturers of textiles, apparel, and leather products decreased $6 million. The increase in commodity dealers, which was reflected in ten districts, was the largest weekly increase in this business category since November 1953Changes 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 Sept. 22P/ Cumulative since mid-year June 30 to Corresponding Sept. 22, 1954P/ period, 1953 (In millions of dollars) Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, & rubber Other manufacturing and mining +167 + 8 + 97 + 92 -356 - 30 -- + 7 +35 -44 - 3 - 7 + 6 + 33 +199 -107 - 94 + 32 + 43 + 29 + 47 Classified changes - net Unclassified changes - net - 9 zJL - 91 -788 +249 - 11 Net change in commercial, industrial, and agricultural loans -18 -879 +238 Trade -- wholesale and retail Commodity dealers Sales finance companies Public utilities & transportation Construction Other types of business 2/ +21 - 6 -24 - 3 Preliminary; see footnote on attached table. + 64 - 68 + 35 + 19 -198 + 59 + 14 + 82 H.12(a) CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BASKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, SEPTEMBER 22, 1954 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 All Districts 2/ Boston New York +21.3 - 6.1 + 5-4 + 3-5 + .6 + .1 - 4.2 - 1.0 - -23.8 - 3-1 + 8.0 + + + (+ 7-1, - - firm JPr»Q-n « St. Minne- Kansasj Dallas cisco p/ Louis apolis City 1 i Phila- Cleve- Richdelphia land mond Atlanta Chicago (In millions of dollars) .3 + .1 - .7 -13-9 + .1 - 1.6 .4 - 5-8 + • 9 + .3 .6 + .9 + 3-9 + 3.1 1-5 + •3 - .4 .5 + - .8 .6 + 4.3 3.0 + - - - .2 .2 .1 .1 + 2.8 .8 .1 + + .7 .6 - «• - 9.2 1.1 .1 + 1.2 + 3.1 - - + .7 +23.2 + 2.5 + • 5 + 1-9 + •9 + 1*3 3-6 + .6 - .4 - 5.8 - - 3.9 + Commodity dealers +35.4 + Sales finance companies -43.9 - Public utilities (including transportation) - 3.2 + •5 + Construction - 6.8 - .7 All other types of business + 5-5 + 1.6 + 2.7 Net change in classified loansi/ - 9.3 + 6.2 -15.1 + 4.7 Unclassified changes - net - 8.7 - Net change in commercial, industrial, and agricultural loans -18.0 + 4.0 2.1 2.2 -25.2 - .3 + - 3-3 + .5 + 3.1 .1 - + 2.7 - + - + -7 + 1.6 1.3 •3 -- .4 + • - + .3 + + 2.1 1.1 .2 - + - + .2 - 1.5 - 1.6 + + 2.4 + .1 + 1.4 - 1.5, - + 5-1 -18.0 + 2.3 .4 + 4.1 + 1.6 + -16.0 + 5-0 + 2.0 + 5-0 •9 - .1 + 5.0 •5 .1 .2 + .6 .8 + 1.2 .1 .1 «• e. + .9 .5 + .1 + 1.0 •7 .2 .3 - .9 + .4 + .2 - - - .8 + 1.6 • 3 + 2.1 - 1.4 .1 + + 1.2 + 1.2 + .2 + 1.7 .2 + 2.7 .8 .2 + 2.1 .1 + 1.2 - ) r *'L) + 3-5 - 2.0 + •9 - .2 3-7 .4 - 1.0 - •7 • 4.0 - .4 - .2 + .4 .2 - .6 + 1.0 - .1 6.8 + 1.8 -11.1 + 3-8 + .8 + 1.9 + 9.8 - 4.0 - 3-3 - .2 + 1.2 - -22.0 - 1.0 -13-0 + 4.0 +11.0 - - 1.8 1.9 + 1.5 •5 2.0 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 220 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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