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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) September 9, 1959 CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS BY INDUSTRY A net decrease of $54 million in loans to manufacturers of metals and metal products was the principal factor in the $18 million net decrease in commercial and industrial loans at weekly reporting member "banks during the week ended September 2. The larger offsetting net increases were $17 million in loans to manufacturers of textiles, apparel, and leather products, $16 million to manufacturers and producers of petroleum, coal, chemicals and rubber products, and $l4 million to public utilities. 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 Cumulative since mid-year July 1, 1959 July 2, 1958 Week to . to ended . Sept. 2, 19592/ Sept. 3, 1958 Sept. 22/ (in millions of dollars) +10 +17 -54 +65 +6l +152 - 12 +16 -1 + 44 +102 + 9 - 26 Trade--wholesale and retail Commodity dealers Public utilities and transportation Construction All other types of business -8 + 2 +l4 -8 -6 + 33 +131 + 80 -149 +22 +146 -122 + 36 + 98 Classified changes - net Unclassified changes - net -19 + 1 +4l8 + 82 -165 - 44 Net change in commercial and industrial loans -18 +500 -209 - 40 -376 Note: Cumulative figures in the last column are not strictly comparable with Current figures because of revised loan classification beginning with week ended July 8, 1959• p/ Preliminary. In addition to the weekly table, a monthly table is attached showing changes during August compared with the preceding month and with August 1958, and also showing changes during the past twelve months. Most of the major changes by industrial classifications were in the same direction as in July. Exceptions were in loans to manufacturers of food, liquor, and tobacco products and to the construction industry which increased in August in contrast to decreases during July; and in loans to manufacturers of metals and metal products which decreased in contrast to increases in the previous month. CHANGES IN CCB6MERCHL AHD 1NHFTRIAL EDMS OF' K SAMPLE OF WEEKLY REPGHL-ING- MEMBER BANKSBY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, SEPTEMBER 2, 1959 New IPhila- Cleve- Rich- Atlanta Chicago St. Minne-[Kansas Dallas San FranAll DisBoston York j delphia land el.sco VJ Louis apoli 3| City Business of Borrower mond tricts Ef (In millions of dollars) Manufacturing and mining: + 5.7 - -5 + .1 +1.0 + .9 - .4 + .2 +1.2 + -9 + .8 + 9-9 Food, liquor, and tobacco + .9 +1.2 - .9 + #1 - .2 -1.1 - .4 +1-7 + .3 +12.0 +3-5 +17-1 Textiles, apparel, and leather Not Metals and metal products (including + .8 - .1 + .1 - .1 8.1 -3.4 -33-1 + -5 -8.2 -1-9 - .2 -53-7 machinery & transportation equipment) - .4 + .1 - .4 + 2.0 .4 7.6 + -5 + .8 +21.0 - 3 + .3 +15-6 Petroleum, coal, chemicals, and rubber + •7 + .1 + .3 + 1-7 -2-3 -1.1 + .3 + .1 - 1.4 Other manufacturing and mining B.12(a) Trade: Wholesale Retail + .6 ( - -3 c -2.0 -2.2 - 2.0 - .8 - .9 + .2 - .3 +2.5 - .6 - .4 +1.2 —1.0 - .2 3-7 + .2 - *7 +2.1 + .4 Commodity dealers + 1.6 +3-6 - 4.3 + .3 - .8 +2.3 + .1 - 2.0 -1.5 +3.5 Public utilities (including transportation) +14.4 + .4 +17.0 +1.4 +4.0 + -5 - .2 - 5-2 - .5 - .1 +1.8 - 4.7 + -3 + 5-5 - .3 - .4 -1.0 - -9 - .8 -2.4 - .7 • -3 - Construction - 8.1 All other types of business - 5-5 + .8 - 5-4 -2.1 - .8 +3.1 +3-7 - 1.6 +1.7 - .1 + .8 - 5.6 Net change in classified loans l/ -18.5 - .2 +11.2 + .2 -4.0 +5.4 +2.1 -22.5 -3.1 +3.9 +2.7 -l4.2 Unclassified changes - net + -5 - .8 -I7.2 -1.2 -1.0 -2.4 - .1 + 3-5 - .9 +2.1 + .3 + .2 +l8.0 Net change in commercial and industrial loans -13.0 -1.0 - 6.0 -1.0 -5*0 +3*0 +2.0 -19 .o -4.0 +6.0 +3.0 -14.0 +18.0 — + •5) avail- .4 7-1 able — CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS 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. 26, 1959 4 weeks 4 weeks ended ended July 29, 1959 Aug. 27, 1958 (In millions of dollars) 12 months ended Aug. 26, 1959 +115.0 + 84.7 - 60.3 + 50.1 +104.2 + 14.5 + + 70.4 129.0 - 8.1 + 21.8 + 31.0 + 21.4 + 6.4 + 72.8 - 84.6 + 24.1 - 5.8 + 866.7 - 86.8 + 187.0 Trade — wholesale and retail + 36.0 + 5.6 + 16.7 + 481.8 Commodity dealers + 86.2 + 43.6 + 98.7 + 57.9 Public utilities (including transportation) + 19.1 + 46.6 - 6.6 + 291.2 Construction + 9-9 - 1-7 + 27.3 + 126.1 All other types of business - 14.6 -129.1 + 56 -0 + 279-5 Net change in classified loans 1/ +381.0 + 55.4 +244.5 +2,402.8 Unclassified changes - net + 10.0 + 47.6 + 39-3 + Net change in commercial and industrial loans +391.0 +103.0 +283.8 +2,432.8 30.0 1/ See footnote on preceding table regarding current coverage and Note on first page regarding comparability with prior figures.