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Not f o r P u b l i c a t i o n

DECONTROLLED AFTER SIX M N H
OTS
A p r i l 21, 1965.
CAPITAL MARKET DEVELOPMENTS
IN THE UNITED STATES

Attached f o r your i n f o r m a t i o n are three t a b l e s and
four c h a r t s on c o r p o r a t e s e c u r i t y f i n a n c i n g f o r the y e a r s 1959-64.

C a p i t a l Markets S e c t i o n ,
D i v i s i o n of Research and S t a t i s t i c s ,
Board of Governors of the Federal Reserve System.




Table 1
Corporate Security Offerings by Type of Business
of Issuer and Use of Proceeds
1959-64
(Net proceeds in millions of dollars)

1964

1963

1962 r /

1961 r /

1960

1959

13,300

12,081

10,501

12,885

9,924

9,527

12,557
10,935
1,622
743

10,553
8,993
1,561
1,528

9,747
8,240
1,507
754

12,017
10,715
1,302
868

9,653
8,758
895
271

9,392
8,578
814
135 i

442

718

511

357

152

169

2,733
2,238
495
241

3,312
2,596
716
190

2,958
2,130
829
228

. 3,691
A 3,011
680
287

1,997
1,711
286
79

1,941
1,684
257
70

E l e c t r i c , gas & w t r . u t i l i t i e s
New c a p i t a l
New money
Other p u r p o s e s
Refunding

2,445
2,406
39
280

1,935
1,912
24
699

2,341
2,173
168
444

2,883
2,763
119
106

2,754
2,656
99
51

3,189 %
3,057
132 \
15 .

Communication
New c a p i t a l
New money
Other p u r p o s e s
Refunding

2,122
1,956
166
35

726
607
119
356

1,276
1,211
65
11

1,435
1,396
39
382

1,036
1,032
4
1

707
703
4
1/

331
331

345
323
23
82

208
199
9
15

157
150
7
21

174
174

172
172

35

- -

Total corporate o f f e r i n g s
New c a p i t a l
New money
Other p u r p o s e s
Refunding
Memo:

Foreign i s s u e s

Manufacturing
New c a p / : a l
New money
Other p u r p o s e s
Refunding

Railroad
New c a p i t a l
New money
Other p u r p o s e s
Refunding

j

- -

- -

Other t r a n s p o r t a t i o n
.New c a p i t a l
New money
Other p u r p o s e s
Refunding

580
470
110
31

527
509
19
1

335
328
8
1/

494
445
49
13

497
451
46
4

769
747
22
15

Commercial and o t h e r
New c a p i t a l
New money
Other p u r p o s e s
Refunding

596
473
123
72

565
500
66
54

604
506
98
28

857
711
147
35

563
437
125
21

670
526
144
15




Table 1 ( c o n t ' d )
Corporate S e c u r i t y O f f e r i n g s by Type of B u s i n e s s of I s s u e r and Use of Proceeds
1959-64

1964
Mining
New c a p i t a l
New money
Other purposes
Refunding

1962 r /

1961 r /

1960

1959

403
280
122
9

208
158
50
1

199
185
14
5

252
188
64
2

231
154
77
8

142
120
23
12

3,348
2,782
566
74

F i n a n c i a l and r e a l e s t a t e
New c a p i t a l
New money
Other purposes
Refunding
Memo:

1963

2,933
2,388
545
144

1,825
1,509
316
23

2,248
2,051
197
22

2,401
2,143
258
71

1,801
1,569
232
6

1,225
600
1,523

1,119
339
1,475

512
111
1,202

717
199
332

1,437
135
828

758
155
888

New C a p i t a l by-

( S a l e s and consumer f i n a n c e c o s . )
(Banks)
(Other c o s . )

i

\
1/ Less than $500,000
Note: D e t a i l s may not add to t o t a l s due to rounding.
Source. - - S e c u r i t i e s and Exchange Commission and Federal Reserve.




H. 14

1

Table 2
S e c u r i t y O f f e r i n g s f o r New C a p i t a l by
Manufacturing Companies
1959-64
(Net proceeds i n m i l l i o n s of d o l l a r s )

1964
A l l Manufacturing
Chemicals
N o n e l e c t r i c a l machinery
Primary nonferrous metals
Primary i r o n and s t e e l
E l e c t r i c a l machinery
Petroleum and r e f i n i n g
T e x t i l e s and apparel
Foods
Fabricated metal products
Paper
Printing
Lumber, wood products
Motor v e h i c l e and equipment
Other t r a n s p o r t a t i o n equipment
Tobacco
Beverages
Stone, c l a y and g l a s s
Rubber products
Other 1/

1963

2,733
329
240
239
239
178
176
174
130
123
115
95
87
84
67
63
44
37
31
282

3,312
363
304
221
68
176
509
130
263
63
121
89
68
49
220
1
87
72
109
399

1962

1961 ~

2,958
494
263
76
141
253
234
183
143
71
158
52
114
28
46

3,691
246
289
149
492
322
407
152
210
31
180
97
47
48
170
47
132
159
45
468

45
116
49
492

I f I n c l u d e s i s s u e s of f o r e i g n manufacturers not f u r t h e r c l a s s i f i e d .

Note: - - D e t a i l s may not add to t o t a l s due t o rounding.
Source. - - S e c u r i t i e s and Exchange Commission and Federal Reserve.




1960
1,997
232
135
42
258
219
63
108
71
119
88
30
67
14
116
14
39
98
284

1959
1,941 '
198 :
125
73
298
251 .
46
69 1
103 :
67 t
91 '
37 ;
44
22
128 j
50
20 ;
70 4
52
197

f
Table 3
T o ta l Corporate S e c u r i t y O f f e r i n g s by Type of I s s u e
1959-64
(Gross proceeds i n m i l l i o n s of d o l l a r s )

Type of i s s u e
T ot al corporate o f f e r i n g s

1964

1963

1962 ^

1961 &/

1960

1959

13,463

12,237

10,705

13,165

10,154

9,748

6,453
7,010

5,823
6,413

6,064
4,640

8,143
5,022

6,657
3,497

5,993
3,755

10,372
3,623
6,749
(423)

10,872
4,714
6,158
(348)

8,969
4,440
4,529
(445)

9,420
4,700
4,720
(710)

8,081
4,806
3,275
(462)

7,190
3,558
3,632
(628)

412

342

422

450

409

531

1,314

3,294

1,664

2,027

Type of o f f e r i n g
Public
Private
•Tvne of s e c u r i t y
Bonds and n o t e s
Public
Private
(Memo: C o n v e r t i b l e )
Preferred stock
Common s t o c k

2,679

1,022~

Source. - - S e c u r i t i e s and Exchange Commission.




CHART 1
. CORPORATE SECURITY OFFERINGS
USE OF NET PROCEEDS
B i l l i o n s of d o l l a r s

1-959 - 64

14.0

12.0

10.0
Refunding

6.0

New
Money

4.0

2.0

Other
Purposes
1959




1960

1961

1962

1

CHART 2
CORPORATE SECURITY OFFERINGS FOR N W CAPITAL
E
BY TYPE OF BUSINESS
B i l l i o n s of d o l l a r s
14.0

1959 - 64

12.0

10.0

Manufacturing

6,0

Public
Utilities

4 . 0 Communication
Real Estate
and
Financ ial
2.0
Other

1959




1960

1961

1962

1963

1964 !

CHART 3
CORPORATE SECURITY OFFERINGS
BY TYPE OF ISSUE
1959 - 64

B i l l i o n s of d o l l a r s

14.0

12.0

10.0

Common
Stock
Preferred
Stock
Convertible
Bpnds

4.0
Nonconvertible

1959




1960

1961

1962

1963

1964

1

CHART 4
PERCENTAGE DISTRIBUTION OF BONDS SOLD BETWEEN
THOSE PUBLICLY OFFERED AND PRIVATELY PLACED
1959 - 64
Per cent
100 —

1960

i




1962

1964


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102