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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate R e l e a s e ) September 30, 1953 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Decreases of $170 m i l l i o n i n l o a n s t o s a l e s f i n a n c e companies and $73 m i l l i o n i n loans t o p u b l i c u t i l i t i e s were the p r i n c i p a l f a c t o r s i n the $260 m i l l i o n decrease 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 loans at weekly r e porting member banks during the week ended September 2 3 . The decrease i n l o a n s to s a l e s finance companies was the l a r g e s t weekly decrease i n t h i s b u s i n e s s category s i n c e January 1952 and was l a r g e l y i n the New York D i s t r i c t , although n e a r l y a l l d i s t r i c t s showed d e c r e a s e s . The decrease i n loans t o public u t i l i t i e s f o l l o w e d seven weekly i n c r e a s e s and was l a r g e l y i n the New York and San Francisco d i s t r i c t s . Net repayments of $lU m i l l i o n were made by the manufacturers of t e x t i l e s , apparel, and l e a t h e r products. The o n l y l a r g e n e t i n c r e a s e during the week was $ltl m i l l i o n i n loans to manufacturers of f o o d , l i q u o r , and tobacco products. Loans to the wholesale and r e t a i l trade and t o commodity d e a l e r s each showed n e t i n c r e a s e s of $11 million. Changes i n loans during the week and s i n c e mid-year are shown below; the t h i r d column shows the changes during the comparable period l a s t y e a r : Business of Borrower Week Cumulative s i n c e mid-year ended / June 2U.' Corresponding September 23— 1953 — p e r i o d , 1952 (In m i l l i o n s o f d o l l a r s ) +320 + 6U -208 +115 + 31 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 Public u t i l i t i e s & t r a n s p o r t a t i o n Construction Other t y p e s of b u s i n e s s + 11 + 11 -170 - 73 - 6 - 12 + 27 + U5 -190 + 61 + 12 + 82 + 15 +286 + 73 - 77 + 22 +H5 C l a s s i f i e d changes - n e t U n c l a s s i f i e d changes - n e t -21h +256 - 18 +751 + 68 +822 Net change 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 p/ + hi - 1U - l - U6 -260 Preliminary; see f o o t n o t e on attached t a b l e . CM + - 3 + 1 +166 + 61t - 65 + 37 + 17 CO 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 Metals and m e t a l p r o d u c t s Petroleum, c o a l , c h e m i c a l s , & r u b b e r Other m a n u f a c t u r i n g and mining CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, YiEEK ENDED WEDNESDAY, SEPTEMBER 23, 1953 H. 1 2 ( a ) Business of Borrower M a n u f a c t u r i n g and minings 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 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 & t r a n s p o r t a t i o n equipment) 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 Other m a n u f a c t u r i n g and mining Trade• Wholesale Retail Commodity d e a l e r s S a l e s f i n a n c e companies 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 ) A l l Dis-, t r i c t s P/ Boston +1*1. i* + 2.7 - + 1*.7 + 5.6 - .1* * 1.9 - .3 .3 - .9 + .5 + .7 +11.3 -170.1 -72.5 - -11.5 Net change 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 loans -2124.3 -1*5.7 -260,0 - 1,7 + .1 - .1 .1* - ,6 + , 6 + .2 — - .1 + .5 - 1.9 + ,1 + 1.5 - U.9 + 1.1 2.7 .8 - .5 - +11.0 A l l o t h e r t y p e s of b u s i n e s s +13.3 - ,8 - - 2.1 .7 + .3 + ,1 - .5 + .1 - 1.3 + it, 1 + .2 + ,1* - ,3 + 7.3 + 3*1: - ,6 - 7.0 - .5 + 2.1 + .1* - . 5 + .6 - - .9 + .2 - .8 - 1.2 - .3 - 1,1* + .1* + 2,0 - ,2 — .7 + . 1 - 1.2 - 3.3 .7 San Fran-, S t . Minne- Kansas I D a l l a s cisco P/ Louis a p o l i s C i t y 7.0 l.l* +19.1 - 7.6 - 2,7 — 6*2 U n c l a s s i f i e d changes - n e t P h i l a - Cleve- R i c h mond A t l a n t a Chicago d e l p h i a land ( I n m i l l i o n s of d o l l a r s ) -13,8 Construction Net change i n c l a s s i f i e d l o a n s i / New York + - + + + + 6,8 ,1* 3*0 + 1.7 - ,h + 2,6 + 2,1* + - 2.5 -105.3 -1*2.5 - 7.8 - .1 - 2.8 - 3.8 -13.7 + .9 - 2.3 - .2 — — 2,1 + - .5 + -11,9 + + ,k + .9 -23.9 - 5.7 - 1.2 + .2 + - .9 .1* .6 .1* + 1.0 .2 + 2.1 .1* .1* ~ 2 m + .6 + ,6 + .1 * .1 - l*.l - .1 - 1*.8 -20.9 - 1.2 -1*5.0 + 1.9 - !*.l + l.l + 5.0 - 1,0 - 3.0 - 5.0 + .1 -23.8 +3.1 - 1.1 - 2,3 - 3.2 - .1 - 6,2 - 2.0 -12.0 -17.0 - 2,0 -30,0 — 1.2 - 2.1 ,1* .7 .3 + 1.2 ) + - .7 1.0 — •U -1,5 - .1 -1.5 - .5 - 3.8 - 1.2 1.5 .1 —10.9 —ll*,7 — .1* .6 - 1*,8 -l3U.il + 2,8 -13.6 -11*8.0 .3 ,2 - 1.2 + .3 + .1* ,6 - 1.0 -21.5 -23.5 p / P r e l i m i n a r y ; f i n a l t o t a l s w i l l appear i n t h e F . R . B u l l e t i n and San F r a n c i s c o D i s t r i c t f i n a l f i g u r e s appear i n a r e l e a s e of t h e Reserve Bank. l / About 215 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 loans as t o i n d u s t r y ; t h e s e banks hold over 90 per c e n t of t o t a l commercial anri i n d u s t r i a l loans of a l l weekly r e p o r t i n g member banks and n e a r l y 70 per c e n t of t h o s e of a l l commercial b a n k s .
@FedFRASER