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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) September 3>195® CHANGES IN COMMERCIALAND INDUSTRIAL LOANS BY INDUSTRY A net decrease of $56 million in loans to sales finance companies was the principal factor in the decrease of $59 million in commercial and industrial loans at weekly reporting member banks during the week ended August 27 • Other net ^ decreases were $1? million in loans to public utilities and $11 million to other types of "business. The principal offsetting change was a net increase of $21 million in loans to manufacturers of food, liquor, and tobacco products. Changes in loans during the week and since mid-year are shown helow; the third column shows the changes during the comparable period last year. Business of Borrower Week ended . Aug. 2lVJ Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, and rubber Other manufacturing and mining Cumulative since mid-year June 25, 1958 June 26, 1957 to / to Aug. 27, 1958 £/ Aug. 28, 1957 (In millions of dollars) - 12 - 1 - 7 - 27 - 9 -44l -367 - 8 - 6 - 60 - 28 - 19 + 20 - 12 +197 +21 + 70 Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business -5& -17 + 7 -11 + 3 +117 - 64 -135 + 31 ±79 Classified changes - net Unclassified changes - net -71 +12 -525 - 32 -4l6 Net change in commercial and industrial loans -59 -557 -514 + 6 p/ Preliminary] seefootnote on attached table. -276 - 66 + 14 + 43 - 98 CHANGES IK COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OP WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, AUGUST 27, 1958 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 Dis-i Boston tricts +20.8 - .9 - 6.7 - 8.1 +1.5 New York +12.1 + 1.0 - .8 - + .1 - 2.6 - 7*0 + .8 St. Phila- Cleve- RichAtlanta Chicago Louis mond delphia land %In millions of dollars) .8 + 1.1 + ~ .4 .1 Minne- Kansas San FranDallas apolis City cisco £/ + .8 + .1 +12.2 -1.5 + .9 + +3.3 - .3 5.7 - .2 -4.1 - .1 - .7 + .7 + .5 .3 - .6 - .7 + .9 - .2 - .8 - .4 + .4 - .4 + .5 - .9 + .9 + 1.3 -4.6 + .1 -1.6 + .2 .3 .1 - .2 +1.7 -1.2 - .3 - .6 - .4 + .4 - .8 + .1 + .1 - .8 + .6 -1.5 - .2 - 1.3 + .4 - 5-5 • .2 !+ 5.8? - .6 -1.2 + 3*0 Commodity dealers + .2 + .9 + 1.5 + 1.4 - .3 +2.7 - -9 + .9 - .6 -3.1 + .7 3.0 Sales finance companies -56.4 +1.0 -57.8 + 1.7 +3.4 + .7 +1.4 + .8 -3.0 - .4 -1.3 2.9 Public utilities (including transportation) -16.9 + .9 —16.4 —— -3*8 - .2 •> 2.2 - .1 + .3 + .2 Construction + 7.4 + .4 + 5.2 + .3 - .6 +1.7 - .3 + .6 - .9 + .6 + .8 .4 All other types of business -10.8 -3*0 -12.4 + .7 +1.3 +2.3 +3.6 + 1.1 + .7 - .7 + .4 - 4.8 Net change in classified loans l/ -71.1 - .2 -76.6 +11.1 -7.8 +7.6 +4.0 +14.2 -4.4 -5.5 - .6 -12.9 Unclassified changes - net +12.1 + .2 +4.6 - .1 +1.8 +1.4 + 4.8 - .6 - .5 - .4 + Net change in commercial and industrial loans -59.0 -72.0 +11.0 -6.0 +9.0 +19.0 -5.0 -6.0 -1.0 -12.0 Trade: Wholesale Retail ( - 3.4 + 2.1 + •8 + 2.0 + 1.7 - .2 + .2 +4.0 + .1 + .2 Not (- .7 .7) ) avail- able .9 2/ 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 acout 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.
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