Survey of Current Business October 1939 · coal, coke, petroleum, natural gas, and natural...

OCTOBER 1939

SURVEYOF

CURRENT BUSINESS

UNITED STATESDEPARTMENT OF COMMERCEBUREAU OF FOREIGN AND DOMESTIC COMMERCE

WASHINGTONV O L U M E 19 N U M B E R 10

Now Availubte • • •

The complete Bureauof Mines official rec-ord of mineral pro-duction in the UnitedStates in 1938.

IN U. S., CANADA, AND MEXICO;

$2.50 IN OTHER FOREIGN

COUNTRIES

FOR SALE BY

THE SUPERINTENDENT OF DOCUMENTS,

UNITED STATES GOVERNMENT PRINTING

OFFICE, WASHINGTON, D. C.

THE 1939 MINERALS YEARBOOK presents an economic review and statistical sum-mary of the mineral industry of the United States in 1938. It reviews current trends inproduction, consumption, prices, stocks, technologic progress, world conditions, andinternational trade for nearly one hundred metal and mineral commodities. It includesa survey of the bituminous-coal industry, furnished through the courtesy of the NationalBituminous Coal Commission.

The record of nonferrous metal production is presented in authentic detail with finalstatistics for 1938 for every State. A new chapter presents a comprehensive survey of theconsumption of pig iron and iron and steel scrap, extending a service begun in 1935. Thisvolume also includes, for the first time, statistics for the sales of barite, by consumingindustries, and a survey of kerosene consumption. Complete final statistics for 1938 arepresented throughout the entire volume with the exception of the chapters on bituminouscoal, coke, petroleum, natural gas, and natural gasoline, and these chapters contain adequatereviews based on preliminary data.

In response to the wide public interest in the problem of providing adequate supplies ofminerals needed for national defense, the new Yearbook summarizes the domestic situationwith respect to the more important strategic minerals that must be obtained in whole orin large part from foreign sources.

Volume 19 Number 10

UNITED STATES DEPARTMENT OF COMMERCEHARRY L. HOPKINS, Secretary

BUREAU OF FOREIGN AND DOMESTIC COMMERCEJAMES W. YOUNG, Director

SURVEY OFCURRENT BUSINESS

OCTOBER 1939

A publication of the

DIVISION OF BUSINESS REVIEWM. JOSEPH MEEHAN, Chief

MILTON GILBERT, Editor

TABLE OF CONTENTSSUMMARIES

Business situation summarized.EmploymentForeign tradeDomestic tradeConstruction and real estate

Page36789

SPECIAL ARTICLE

The impact of war on commodity prices

CHARTS

Figure 1.—Monthly business indicators, 1929-39Figure 2.—Indexes of stock prices for selected groups, Wednesday

close, August 30-September 20, 1939Figure 3.—Indexes of value of inventories, specified periods, 1936-39.

10

412

CHARTS—Continued P a g e

Figure 4.—Comparison of price movements of selected commoditiesat the outbreak of the European wars of 1914 and 1939 13

Figure 5.—Indexes of wholesale prices, by groups, 1914-22 and 1929-39. 14

STATISTICAL DATANew or revised series:

Table 41. Income payments, 1929-38 15, 16Table 42. Employment, unadjusted and adjusted, and pay rolls,

unadjusted, 1934-39 17Table 43. Sales of washing machines, 1929-38, and sales of iron-

ing machines, 1933-38 17Table 44. Exports of sawed timber, 1913-39 18

"*r Table 45. Total imports of sawmill products, 1913-39 18Monthly business statistics 19General index Inside back cover

Subscription price of the monthly and weekly issues of the SURVEY OF CURRENT BUSINESS is 32 a year. Single-copy price: Monthly, 15 cents; weekly, 5 cents*Foreign subscriptions, 33.50. Price of the 1938 Supplement is 40*cents* Make remittances only to

Superintendent of Documents, Washington, D. C.

179391—39 1 1

SURVEY OF CURRENT BUSINESS October 1939

Monthly Business Indicators, 1929-39INDUSTRIAL PRODUCTION

140

130

120

110

100

90

80

70

60

140

120

100

80

60

40

20

0

140

120

100

80

60

40

20

0

175

150

125

100

75

50

25

0

vo

\

T

LUME

\

\

\

(1923-

f\V

25=100)

VV

A1

1 v

/

[V

1f

\///

V

L f

V

1929 1930 1931 1932 1933 1934 1935 193S 1937 1938 1959

CONSTRUCTION CONTRACTS AWARDED**VALUE (1923-25=100)

1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939

FACTORY EMPLOYMENT AND PAYROLLS(l923~25« 100)

r \ < FACTORY EMPLOYMENT-^1>S4^ (ADJUSTED) ^J^S

J !A^s** 1 *

J

/ \^FACTORY PAYROLLS^ I 1 (UNADJUSTED)

i\

1929 1930 1931 1932 1933 1934 1935 1936 1937 193S 1939

RETAIL SALES *AUTOMOBILE SALES (l929~31=100)DEPARTMENT STORE SALES (1923-25=100)

\

Spy./

Vu

-DEPAF

' \

XV

i17MENT STORl

1SSENGl

s p

1

S? AUTOMOB

wtLE SA

INCOME PAYMENTS AND CASH FARM INCOMEMONTHLY INCOME PAYMENTS (1929=100)

CASH FARM INCOME ( l924M929*100)

'ONTHLY INCOME PAYMENTS

'-CASH INCOME FROM FARM MARKETINGS(EXCLUSIVE OF RENTAL & BENEFIT PAYMENTS)

1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939

FOREIGN TRADE *VALUE (1923^25=100)

X°ORTS,

\

INCLUDING Ri

V

GE

faf

EEXPOR

'NEPAL

7-5

IMPORTS ~^f

1 M

rAi

n ^v-

1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939

WHOLESALE PRICES AND COST OF LIVING(19 23-25 =100)

^-CO

\

ST OF

\

LIVING

sy H 'HOLESALE PRICES

— ^

11929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939

STOCK PRICES(1923-25=100)

-350 INDUSTRIAL COMPANIES

120

110

100

90

80

70

60

50

40

140

120

100

80

60

40

20

110

100

90

80

70

60

50

0

350

300

250

200

150

100

50

1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939

* ADJUSTED FOR SEASONAL VARIATION

1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939

• THREE-MONTH MOVING AVERAGE D.D98?Z

October 1939 SUEVEY OF CURRENT BUSINESS

Business Situation SummarizedECONOMIC activity moved ahead vigorously in

September as the war in Europe caused majorreadjustments in business policies and programs.Industrial production immediately moved forwardat an accelerated pace, and there was a major increasein employment by the end of the month. This re-sulted from the large-scale forward buying on theorganized commodity markets in the first days of themonth and the extensive covering of future require-ments which soon followed over a wide range of rawcommodities and manufactured products. Consumers'incomes in September were increased by the resultantrise in pay rolls and by the higher prices realized forfarm products.

An immediate reaction to the German invasion ofPoland was felt on domestic security and commoditymarkets. The shock of hostilities was absorbed with nointerruption to trading, in distinct contrast with thebreakdown in 1914. At that time the New York StockExchange was closed and gold reserves were seriouslydepleted, whereas even in the first days of Septemberorderly and unimpeded security trading was main-tained without difficulty and the foreign exchangesmoved in favor of the dollar. In commodity marketstrading was continuous, with prices of basic staplesadvancing sharply.

Among September developments of immediate sig-nificance to business volumes was the exceptionallyheavy buying in anticipation of rising prices and possibledifficulties in securing deliveries. The result was asharp advance in the rate of business improvementthat had been under way during the summer. TheSeptember change to aggressive forward purchasesoccurred most promptly in basic materials, but semi-finished and finished goods were also shortly the objectof heavy buying. After the very active buying inthe early weeks of hostilities there was a falling offin the latter part of September. Unfilled orders atthe end of the month, however, were exceptionallylarge in numerous instances.

The rapid rise in production and the increasedmovement of goods into trade channels led to substan-tial increases in inventories of business concerns.Extension of the current industrial advance after theexisting backlogs of orders are reduced to more usualproportions will depend on development of newdynamic demand factors, such as heavier exportsand/or a pick-up in business expenditures for durableproducts. During September there were few tangibleindications of material changes in this direction,though there were some stirrings in the railroad equip-ment field. The role of capital formation in expandingor even maintaining the current business advance has

become of increasing importance; the immediate pros-pect for a vigorous growth in export trade was notclear on the basis of September events.

Export shipments in September declined as a resultof the interruptions and changes in sailing schedulesoccasioned by the war. While such dislocations are tem-porary, we may expect marked changes in the directionand commodity composition of our trade, some ofwhich are already apparent. A large volume of foreigninquiries for United States merchandise has been re-ported, but actual consummation of orders was notexceptional during the month, if the available informa-tion correctly indicates the current situation. On thewhole, foreign-trade prospects remain confused, but anumber of major influences were injected immediately.These were the invocation of the provisions of theNeutrality Act of 1937 against the belligerent powersin the European war; the interference to shipmentscaused by the Allied blockade; the imposition of re-quirements for import licenses and exchange permitsfor almost all commodity imports in the United King-dom and France; and the precautionary measures tocontrol movements of exports and imports taken bymany neutral countries. The Congress was convokedin special session to consider revision of existing neu-trality legislation.

Industrial Production Rise Unusual.

Manufacturing operations at the end of Septemberwere far ahead of the level at the close of August. Out"put was the largest for any month since September1937, when the recession of that year gathered momen-tum. The rise in factory output was most prompt inbasic semimanufactures, but by the end of the monthoperations were being speeded up over a wide range ofindustries producing both partly processed and highlyfabricated products. Production in many nondurable-goods industries reflected the large orders received forboth semifinished and finished articles. Cotton millsadvanced production more than seasonally on thereceipt of exceptionally large orders in September;rayon producers were unusually active. Production inthe paper and paperboard industry increased to thehighest level since 1937.

Output in the durable-goods industries also movedforward during the month. In a number of lines requir-ing a higher degree of fabrication the September volumesresulted from the accumulation of orders over pastmonths. However, in the basic steel industry, theextraordinary production spurt resulted predominantlyfrom the receipt of orders during September. Steel-ingot production was quickly advanced from 63 percentof capacity to 84 percent in a 4-week period. The


widespread covering movement among consumers ofsteel brought sufficient orders to the books of the steelmakers to assure continued high output during the fourthquarter. Domestic quotations for steel to be shippedbefore the year-end were held at the prices posted forthird-quarter delivery except for some advance bysmaller units in the industry. Realized prices were ex-pected to reflect the firming in posted price lists. Tin-plate mills and fabricators of nonferrous metals alsoincreased operations materially. Automobile produc-tion in September was increasing at a rapid rate—the

RELATIVES, AUGUST 30, 1939 « 100130

/RAILROADS

INDUSTR/ALS-CAPITAL GOODS

INDUSTRIALS-CONSUMERS' GOODSUTILITIES

120

I 10

100

90Aug.30 Sept. 6 Sept. 13 Sept. 20

170

80

STEELSUGARRAILROAD EQUIPMENT

AIRCRAFT MFG.-MEATPACKING

^COPPER $ BRASS^-PETROLEUM

AUTOMOBILECHEMICAL

RETAIL TRADE

MOTION PICTURE

Auy.30 Sept. 6 Sept. 13 Sept 20

Figure 2.—-Indexes of stock prices for selected groups, Wednesday close,August 30-September 20, 1939.

NOTE .—Indexes have been recomputed on an August 30,1939, base from the indexespublished by Standard Statistics Co., Inc.

usual move subsequent to model change-overs. In-quiries for metalworking machinery were quite large inSeptember, but evidence of expansion for other lines offactory equipment was lacking. The Maritime Com-mission hurried its shipbuilding program, placing con-tracts for 49 vessels of 350,000 gross tons during themonth. The total number of ships under contractbut not completed rose to 117 of 900,000 gross tons.

The long-dormant railroad-equipment industry wasactivated by an increase in repair programs, and equip-ment purchases rose by moderate commitments afterthe low volumes placed in the earlier months of the year.

As the railroads sought to increase the number offreight cars in usable condition, they enlarged workingforces at repair shops. The carriers were the bene-ficiaries of a spectacular increase in freight volumes dur-ing September; even after the customary allowance forthe large seasonal gains, the volume of traffic was up 9percent from the adjusted rate in August. Freight-car loadings, on a sharp upward curve during the month,reached 835,000 cars in the final week of September, aweekly total that has been exceeded but twice since 1930.Fuel Output Advances.

Output of fuels increased during September mainlyas a result of the return of normal petroleum flow inthe mid-Continent fields. Consequent upon the pro-duction restrictions in the latter half of August, stocksof crude oil declined substantially; prices of petroleumproducts generally tended to strengthen, even priorto the war-fostered rise. Bituminous coal mined in-creased further in September; the tonnage was thehighest since November 1937. Power demands fromindustrial users were a major factor in the record es-tablished by electric energy output.

Stock and Bond Price Changes Diverse.After one day of irregular movements immediately

upon the German invasion of Poland, stock prices weremarked up rapidly in the next week. While the generaltrend was upward, stock-price movements for thevarious groups of industries were quite divergent, asmay be seen by reference to figure 2. Major advancesoccurred in railroad shares, and in industrial stockswhich traders calculated were likely beneficiaries ofwar demands; shares of representative motion-pictureand retail-trade concerns declined; and public-utilitystocks were little changed on the average. After theabrupt advances in the early part of September, quo-tations moved within a relatively narrow range. Fromthe end of August to mid-September, the StandardStatistics index of 350 industrial stocks advanced 15percent, and the railroad index was up about 30 per-cent. These gains raised market averages of industrialshares to approximately the 1938-39 highs; railroadshares were slightly higher. Trading on the New YorkStock Exchange was quite active in the first half ofSeptember; daily turn-over ranged between 2 and 6million shares, whereas in August a volume of less than1 million shares was typical.

High-grade bonds—corporate, municipal, and Fed-eral—were subjected to heavy selling pressure on theoutbreak of hostilities, and market quotations movedlower. These bonds had been quoted on a very lowyield basis during the summer. Further declines oc-curred in Federal Government issues later in themonth, and net losses in September were as much as 5points. The Federal Reserve banks intervened ac-tively to support government issues by acquiring$400,000,000 of bonds and notes in the first half ofSeptember. While better-grade industrial and utility

October 1939 SURVEY OF CURRENT BUSINESS

liens declined, there were advances in the issues carry-ing a greater risk. Foreign bonds listed in New Yorkwere subject to heavy selling, and large losses werenumerous.

The new-issues market was seriously disturbed bythe European war, and publicly offered corporate issueswere negligible in amount; the August total had been$250,000,000. Since the volume of new capital raisedby corporations in the open market has been quite lowfor about 2 years, this interruption was not of majorsignificance. However, the firming of interest ratesafter hostilities caused the postponement of severalrefunding issues and one large utility refunding issue,originally intended for the market, was placed privately.Commercial loans increased materially in Septemberwith the usual seasonal movement reinforced by in-creased demands for working capital as inventories andindustrial operations moved up. In the 4 weeks endedSeptember 27, reporting member banks in 101 citiesadded more than $200,000,000 to their business loans.Foreign Exchanges Erratic.

The foreign-exchange market was thrown into con-fusion by the outbreak of war; the currencies of bellig-erents declined in terms of the dollar, while those ofmost neutral countries moved within narrow limits.

The pound sterling fell from $4.34 on August 31 to$4.06 on September 5, on which day the Bank ofEngland announced an "official" dollar exchange rateof $4.02-$4.06 for the transfer of American-ownedpre-war sterling balances, and approved trade transac-tions with the Empire. Notwithstanding this announce-ment, the "open market" quotation for sterling con-tinued to fall, touching $3.73 at the middle of themonth, though subsequently recovering to about $4.The French franc declined from 2.45 cents at the endof August to 2.10 cents by mid-September, a low whichhad not been reached since July 1926. The Canadiandollar sold at a discount which at one point duringSeptember reached 11 percent, but the rate laterrecovered slightly.

The Scandinavian currencies were cut loose from thepound sterling in late August, and during Septemberwere fairly steady in terms of the dollar. The Japaneseyen declined along with the pound sterling, to which itremained pegged, though the yen did not reflect theextreme weakness in sterling when the New York rateon London was temporarily below $4. Currencies ofthe leading South American countries were mostlyfirm, though a strengthening of the dollar value ofsome currencies was evident.

MONTHLY BUSINESS'INDEXES

Year and month

Monthly incomepayments, ad-

justed i

e3

Monthly average,1929=100

Factory em-ployment

andpay rolls

si ¥Monthly av-erage, 1923-

25=100

Cash farmincome 2

Monthly av-erage, 1924-

29=100

Industrialproduction,adjusted1

Freight-carloadings,adjusted ]

Retail sales,value, ad-justed i

Monthly average, 1923-25=100 1929-31=100

si

Foreigntrade,value,

adjustedl

© 1as

If

due,

£

Monthly average,1923-25=100

Monthlyaverage,1926=100]

1929: August1932: August1933: August1936: August1937: August1938:

AugustSeptemberOctoberNovemberDecember

1939:January.FebruaryMarchAprilMayJuneJulyAugust

Monthly average, Januarythrough August:

1929193219331936193719381939

L02.357.558.183.591.0

81.381.882.683.183.4

83.383.084.183.083.484.183.685.3

99.562.655.781.789.381.183.7

101.955.457.181.289.3

79.980.481.482.483.0

82.382.082.181.081.482.882.883.9

99.561.353.577.986.978.282.3

101.960.359.484.191.0

82.582.883.584.284.7

84.484.484.883.884.385.485.4

99.765.457.282.089.181.884.9

108.462.481.0

100.6111.7

87.889.990.292.894.4

94.694.394.093.893.394.394.895.7

106.066.468.895.9109.888.1

113.541.458.687.3108.7

77.381.684.284.487.1

83.786.087.685.585.086.584.489.9

111.448.145.782.0105.274.886.1

113.538.549.575.090.5

72.585.091.578.072.5

68.551.057.555.060.059.063.071.0

93.741.443.966.174.063.860.6

108. 538.551.074.585.0

72.072.567.569.568.0

67.560.064.064.565.060.062.571.0

1216091108117

889096103104

1019998929298101102

12264761011178098

1225991110117

878995103104

1009796929197100104

12463761011177797

115659199113

959798102109

110110110959810410692

113697910011495101

11051647679

6264686969

6967666062676970

106535570795965

10568696768

6061626161

6262626161616262

104736664686061

11164758793

8386848989

87

148.530.052.092.0120.5

54.560.085.0100.092.5

91.096.088.079.579.079.080.574.0

165.941.946.9110.4122.264.089.2

10931385179

6662605867

5563706470706972

112353150696863

11929506279

5355545554

5549535361585757

116363460854956

12230246262

6678829696

8673696763636770

127291955635672

62.786.793.4

81.283.391.786.4

106.9

90.577.192.385.390.094.789.688.7

137.567.5

3 60.788.999.983.788.5

96.365.269.581.687.5

78.178.377.677.577.0

76.976.976.776.276.275.675.475.0

95.765.463.480.187.379.176.1

i Adjusted for seasonal variations; monthly averages, except income payments, are based on unadjusted indexes.* Average of 7 months, January, February, and April through August.

a From farm marketings.


EmploymentEMPLOYMENT increased substantially in Sep-

^ tember, extending the August rise, as industrialproduction expanded and improvement in other linesnecessitated the engagement of large numbers of addi-tional workers. Among manufacturing industries, thelarge gains have been those reported for cotton-goodsfactories, steel, aircraft, shipbuilding, and meat-packingfirms. In automobile plants the number at work isundergoing rapid expansion with the increased produc-tion of 1940-model cars. Numerous other producinglines have also recorded increases. With railwaytraffic close to the 1937 peak, the railroads have addedmany employees in the last few weeks. Employmenton construction projects has been relatively high with afurther small advance recorded in September, and tradeestablishments are taking on additional workers inpreparation for fall business.

As an indication of the rising volume of employmentin recent weeks, a special survey of the Bureau of LaborStatistics shows a gain of about 300,000 in factory em-ployment between mid-August and mid-September.Since the middle of July, the gain in factory employ-ment alone has been in excess of one-half million, alarger increase than is usually recorded at this season.These employment gains have lifted salaries and wagesto the highest level since 1937, and have cut down thevolume of unemployment which, however, is still large.

More detailed figures available through the middleof August place total nonagricultural employment atthe highest total since December 1937 and about1,200,000 over August 1938. Gains in factory employ-ment were widespread, with 69 of the 90 reporting linesof activity showing increases in employment from Julyto August. Pay rolls in factories gained more rapidlythan employment, the rise of 6.5 percent, or $10,500,000weekly, being approximately double the customaryJuly-August increase.

Coal mines reported increased employment inAugust, the rise at anthracite mines being contrasea-sonal. Coal-mining payrolls rose more sharply than em-ployment, reflecting increased production schedules. Asmall reduction in employment was reported in the oilfields, but these data do not reflect the general shut-down which occurred in the latter part of August.

Following its usual procedure, the Bureau of LaborStatistics has revised its indexes of factory employmentand pay rolls to accord with the latest census data—that is, those for 1937. Certain of these data are givenin table 42, page 17, of this issue. As an indication ofthe extent of the revisions, the index for total factoryemployment, without seasonal adjustment, for Augustis 3.4 percent higher on the revised basis. The indexof pay rolls was also affected, although the revision inthis case lifted the index by less than 1 percent.

EMPLOYMENT STATISTICS

Tear and month

Factory employment and pay rolls *

Employment

Unadjusted

All in-dus-tries

Dura-ble

goodsindus-tries

Non-dura-

blegoodsindus-tries

Adjusted i

All in-dus-tries

Dura-ble

goodsindus-tries

Non-dura-

blegoodsindus-tries

Pay rolls, unadjusted

All in-dus-tries

Dura-ble

goodsindus-tries

Non-dura-

blegoodsindus-tries

Monthly average 1923-25 = 100

Retail trade,unadjusted

Em-ploy-ment

Payrolls

Weeklyearn-ings

Monthly av-erage

1929 = 100

Average factorywages and hours

(National IndustrialConference Board)

Hourlyearn-ings

Dollars

Industrial disputes

Strikesbegin-ning

orked monthper

week

Work-ers in-

strikesbegin-

inmonth

Man-daysidle

duringmonth

Number i Thou-| sands

! Thou-sands

of days1929: August1932: August1933: August1936: August1937: August1938:


1939:JanuaryFebruaryMarchAprilMayJuneJulyAugus t

Monthly average.. January through Aug-ust:

1929193219331936193719381939

109.262.781.3

101 2112.3

88.892.092.493.394.0

92.293.694.394. 193.093.493.596.4

106.066.468.895.9

109.888.193.8

110.348.965.091.3

107. 5

72.475.979.782.983.8

82.383.384.181.884.084.682.984.2

107.154.452.887.6

105.576.683.8

108.275.997.0

110.7116.8

104.4107.3104.6103.1103. 8

101.7103.5104. 0103.0101. 6101.8103. 6108.0

104. 977.884.0

103.8114.099.0

103. 4

108.462.481.0

100.6111.7

87.889.990.292.894.4

94.694.394.093.893.394.394.895.7

109.748.864.892.3

109.1

72.876.478.382.183.7

84.484.283.783.982.983.983.784.9

107. 375.496.4

108.5114.2

102.1102.7 I101.5 !103.1 |104.7 {

i101.4103. 9103.8103.3103. 3104. 2105.4105.9

113. 541.458.687.3

108.7

77.381.684.281.487.1

83.786.087.685.585.086.584.489.9

111.448.145.782.0

105.274.880.1

115.427.945. 279.8

109.2

63.168.174. 677.679.6

76.077.779.479.578.880.776.081.7

113.235.632.776.2

105. 363.978.7

111.356.473.595.8

108.1

93.296.794.992.195.4

92.495.396.792.291.993. 093.899.2

109.362.160.188.4

105.186.994.3

98.7 i71.8 i75.482.4 j86.2 |

80.084.785.986.998.1

82.281.583. 885. 585.786.483.582.4

97.776.872.182.987.883.383. 9

99.256.954.964.472.3

66.869.470.871.579.2

69.768.469.671.371.572.570.869.2

28.4915.2619.3424.7627.76

24.9325.7326.1426. 3226.02

25. 9526.1126. 2526. 2726.1926. 7926.76

97.765.252.164.371.469.270.4

28.6917.2817.0724.0527.5823.71

0. 590.486.507.617.713

.711

.714

.714

.714

.713

.713

.713

.715

.717

.720

.721722

48. 332.138.240.138.9

35.236.236.736.936.6

36.636.836.936.836.537.237.2

.588

.510

.464

.613

.682

.714

48.734.337.139.140.533.4

8689261228449

262222256207177

293922569143

4896534338

173 |179193219210194210275

78145185 j458 I239207

49 I67 j41

391 j93 j56

17070

29368660

20257

117

3951,4172, 061

9112,270

831990842558513

512540591

4.8683, 500

9231.100

900

5441, 184

957972

3,017781

1.617

i See footnote marked " t " on p. 25. J Adjusted for seasonal variations.


Foreign TradeDESPITE dislocations to shipping in early Septem-

ber resulting from the outbreak of war, exports ofUnited States merchandise for the month increased 14percent over August and 16 percent over September of1938. Exports for September were approximately$282,666,000, according to preliminary statistics. Theincrease for the month was in line with seasonalexpectations.

United States exports to Germany and Polanddropped to negligible figures during September andthose to France, which had been unusually large inAugust, declined by about 50 percent. A large partof the increase in exports for September was accountedfor by materially enlarged shipments to Canada, theUnited Kingdom, and Japan.

The exports of commodities which increased mate-rially from August to September were raw cotton, petro-leum, and coal, while only aircraft products showed amarked decline. Shipments of raw cotton in Septemberrose sharply; $35,000,000 as compared with $11,000,000in August. No barter cotton had moved out earlyenough to be included in the month's figures.

In August—the last month of peace—the exporttrade of the United States increased 9 percent in valueas compared with July, while general imports advanced4 percent. Compared with August 1938, the respectivegains in exports and imports were 9 and 6 percent.

Exports of raw cotton registered an increase in

August, as compared with the corresponding month ofthe preceding year, for the first time in more than ayear. With quantity shipments to Europe greatlyabove last year's, the value of cotton exports to thatarea increased from $6,863,000 in August 1938 to$9,285,000 in August 1939, despite the lower priceswhich ruled this year. However, shipments of cottonto Japan and Poland were decidedly smaller and thoseto Germany were somewhat lower in comparison withAugust 1938. Marked increases were recorded for cot-ton exports to the United Kingdom, France, Belgium,Spain, and the Netherlands.

Despite the increase in cotton, the value of totalagricultural exports was smaller in August than in thesame month last year. The quantity of tobacco ex-ports was down only 4 percent, but because of a shiftin grades, the value decreased from $14,834,000 to$7,901,000. Moreover, August exports of wheat thisyear amounted to 5,903,000 bushels as compared with9,900,000 bushels in August 1938, and corn exportswere 1,087,000 bushels as compared with 12,647,000.

The rise in the value of import trade in August overthat of August 1938 was in part the result of higherprices for leading import commodities this year.Whereas the quantity of crude-rubber imports in-creased 12 percent, the value rose 16 percent. Silkimports decreased 9 percent in quantity but increased14 percent in value, as compared with August 1938.

EXPORTS AND IMPORTS

Tear and month

Valueof

totalex-

ports,ad-

justed

Indexes

Valueof

totalim-

ports,ad-

justed

Monthly aver-age 1923-25= 100

Ex-ports,

in-clud-ing

reex-ports

Exports of United States merchandise

Total

Crude ma-terials

Total

Un-man-ufac-turedcot-ton

Food-stuffs,total

Semi-man-ufac-tures

Finished manufac-tures

TotalMa-

chin-ery

Auto-mo-biles,parts,and

acces-sories

Imports »

TotalCrudemate-rials

Food-stuffs

Semi-man-ufac-tures

Fin-ishedman-ufac-ture*

Millions of dollars

1929: August—.1932: August—_1933: August- .1936: August...1937: August-._1938:

AugustSeptember.OctoberNovember-December..

JanuaryFebruaryMarchAprilMayJuneJulyAugus t

Cumulative January throughAugust:

1929193219331936193719381939

10931385179

3 1123 353 313 503 693 683 63

11929506279

5355545554

5549535361585757

31163 363 343 603 853 493 56

380.6108.6131.5179.0277.0

230.6246.3277.9252.2268.8

212.9218.6268.4230.9249.3236.1229.6250.8

3,406. 51, 055.4

944.91, 514. 32,081. 82,050.61,896. 6

374.5106.3129.3175.8273.6

228.1243.6274.3249.7266.2

210.3216.0264.6227.6245.9233.4226.7248.1

3,346.81,030. 2

927.81, 488.32, 045. 52,024.81,872. 6

50.929.742.038.146.0

43.859.672.159.949.4

36.436.540.126.030.225.729.736.5

585.1298.2300.8345.4391.9353.5261.1

23.918.128.212.015.9

10.720.524.125.019.0

15.013.717.09.27.56.26.0

11.9

368.1195. 6205.6172.8201.1140.086.3

65.517.316.919.727.4

35.831.433.329.528.4

31.126.628.023.626.919.519.724.3

486.1160.1112.4126.8146.7310.4199.7

57.112.920.532.367.2

35.640.244.540.050.5

35.534.945.741.048.248.546.053.5

500.5133.7138.6258. 2452.7330.8353.2

201.046.350.085.7

132.9

112.9112.5124.4120.4137.9

107.4118.1150.9137.0140.5139.7131.4133.8

1, 775.2438.3376.0757.9

1, 054. 21,030.11, 058. 7

50.69.0

11.125.240.8

39.536.638.734.640.9

31.234.649.443.944.442.243.743.6

409.291.075.5

218.6313.2335.9333.0

36.05.18.1

12.323.1

12.314.217.325.429.2

21.425.328.524.923.820.418.514.9

423.656.957.1

162.0228.7185.2177.7

369.491.1

154.9200.8248.7

171.1172.9178.5171.7165.5

169.3152.5191.2185.8194.2178.4170.5180.4

3,008. 7917.3890.0

1, 551. 62,133. 41,262.31,422. 3

125. 822.250.861.879.6

49.552.453.752.453.5

53.948.159.554.962.354.750.061.0

1,072.9247.3249.4464.1688.3364.5444.4

74.929.235.456.867.0

49.549.148.446.844.0

43.441.654.549.151.950.249.648.4

672.0282.0278.1477.7641.7382.6388.7

79.715.135.140.854.8

35.033.635.835.235.3

37.234.038.837.939.938.636.935.7

608.2152.3170.3319.2439.8246.2299.0

88.924.633.741.447.3

37.037.940.637.332.8

34.928.838.443.840.434.833.935.4

655.6235.7192.2290.6363.6269.0290.5

1 General imports through December 1933; imports for consumption thereafter, J Adjusted for seasonal variations. ^Monthly average of unadjusted indexes.

8 SURVEY OF CURRENT BUSINESS October 1939

Domestic TradeTHE increase in buying power flowing from the

more-than-seasonal rise in industrial pay rolls didnot result in a broad increase in actual consumer pur-chases in September. Although rising volumes may beexpected in the near future the movement thus far hasbeen limited to a relatively few staple food items.Retail sales of general merchandise have followed arather even trend during the summer months at a levelsome 7 percent above the dollar values in the summerof 1938. The increase in the volume of sales has beenof about the same magnitude, since prices have aver-aged approximately the same as last year. Septembersales will have to make a better showing than is indi-cated by the department store figures if the rate ofincrease over 1938 is to be maintained. The post-Labor Day trade a year ago moved up sharply.

Department store trade in the first 3 weeks of Septem-ber indicates that the seasonally adjusted index of salesfor the month will be about the same as in August.The gain over a year ago narrowed, since the seasonallycorrected index increased 3 points from August toSeptember 1938. Automobile sales declined duringmost of the month as 1940 model cars were not avail-able in sufficient volume to start deliveries on a largescale. Retail sales of general merchandise in ruralareas will naturally be influenced favorably by the

improved outlook for farm income which has resultedfrom the advance in prices of farm commodities.

Wholesale sales reported by 2,900 firms were 7 per-cent larger in August than a year ago and up aboutseasonally as compared with July. No significantchanges were revealed by the statistics for the variouslines of trade. September sales expanded with thegeneral change which occurred in purchasing policies,but data are not available at this time to measure theextent of the commitments.

Manufacturers' sales in August were about 14 percentlarger than a year earlier, according to reports receivedfrom 1,650 concerns. The gain was about the same asthat reported in July. Both bookings and shipmentsincreased in September.

Dun's insolvency index continues to mirror the im-proved financial condition of business concerns as com-pared with a year ago. This index, which representsthe ratio of actual commercial failures to firms in busi-ness, has shown only minor fluctuations in recentmonths, after adjustment for seasonal variations. InAugust, the number of failures was about one-eighthlower than a year ago, although it was still well abovethe 1937 level. According to the available weekly sta-tistics, failures in September declined by more than theusual seasonal amount, so that the adjusted index willprobably drop to the lowest point since the fall of 1937.

DOMESTIC TRADE STATISTICS

Tear and month

1929: August1932: August1933: August1936: August1937: August.-1938:

August..SeptemberOctoberNovemberDecember

1939:JanuaryFebruaryMarchAprilMayJuneJulyAugust

Monthly average,January throughAugust:1929193219331936193719381939

Retail trade

Department stores

SalesUnad-just-ed a

Ad-just-ed 3

Stocks iUnad-just-

ed

Ad-just-ed 3

Monthly average, 1923-25=100

8449596872

65919299156

6969828887836069

96635774817376

11164758793

8386848989

8887888885868689

9659626574

6570747862

6065696968646065

97675664' 746765

10062656778

Chain-store sales

Com-binedindex

(ChainStore Age)Avg. samemo., 1929-

31 = 100

79.887.0

109.0113.2

106.0109.4108.0109.5112.9

107.5108.8109.8110.0110.0111.0112.0113.0

85.281.7

103.6111.1105. 6110.3

Grocery stores Variety storesUnad-just-ed a

Ad-just-ed 3

Unad-just-ed a

Ad-just-ed 3

Rural sales ofgeneral mer-

chandise

Unad-just-ed 2

Ad-just-ed s

Value ofnew passen-ger-car sales

Unad-just-ed 2

Ad-just-ed 3

Monthly average, 1929-31=100

80.578.792.189.6

88.593.094.996.7

101.1

93.598.7

100.5102.0102.9100.897.699.0

100.687.379.094.195.993.099.4

102.383.982.095.993.3

92.294.994.496.798.1

96.498.299.599.0

101.499.399.6

103.1

96.968.876.786.590.6

85.294.198.2

102.2193.6

73.679.785.097.696.395.891.389.6

94.674.372.287.190.585.288.6

109. 577.786.797.7

102.4

96.398.596.7

100.2104.9

98.795.598.897.196.3

100.8102.6101.2

111.050.364.796.291.7

98.2121.1140.9147.2183.6

91.3100.1115.0120 2120.5120.091.1

107.2

110.057.855.595.8

105. 597.0

108.2

129.061.875.2

117.6121.1

120.1114.6108.5113.1114.8

120.0123.7131.0130.8131.2131.7124.8131.1

167.034.058.392.9

112.6

49.237.155.199.196.1

70.871.2

106.7106.3107.1101.287.562.9

165.94146.9

110.4122.264.089.2

148.530.052.092.0

120.5

54.560.085.0

100.092.5

91.096.088.079.579.079.080.574.0

Wholesaletrade

Em-ploy-ment

Payrolls

Monthly aver-age, 1929=100

101.374.977.986.391.8

88.589.189.890.0

88.387.987.487.387.288.187.988.8

98.777.473.685.491.388.587.9

100.060.357.269.779.0

73.774.375.175.475.7

75.574.674.774.874.975.775.976.1

98.566.254.968.275.774.575.3

Commercialfailures

Fail-ures

Num-ber

1,427677736

1,015866997984875

1,263963

1,0571,0641,028

847885859

1,914867780

1,139996

Liabil-ities

Thou-sandsof dol.

37, 28710,03414, 950

16,38214,34113.21912. 30236,528

19,12212, 78817,91517, 49214, 75711,60914,12811,259

46,31518,87014, 39221,26414,884

1 End of month. 2 Adjusted for number of working days. ? Adjusted for seasonal variations.

October 1939 SURVEY OF CURRENT BUSINESS 9

ConstructionCONSTRUCTION contract awards were placed in

sustained volume during the first 3 weeks ofSeptember, with the outbreak of hostilities in Europeapparently no deterrent to building schedules alreadybudgeted. According to the F. W. Dodge Corporationstatistics for 37 States, daily average building awardsfor the period September 1 to 22 were 10 percenthigher than in August, a contraseasonal rise and thelargest so far this year. The gain in total awards overa year ago amounted to nearly one-fifth in the first3 weeks of September, but this margin is apt to narrowrapidly in the near future. In the fall and winter of1938, public awards were advancing rapidly, and thereis no similar program in effect to induce a comparableexpansion this fall.

Of the major classifications, gains over August wererecorded in daily average awards for nonresidentialbuilding and for public utilities. Public works weresomewhat lower, and residential building awards werereduced slightly. September reports of the FederalHousing Administration do not reveal any let-down inthe number of mortgages accepted for appraisal and forinsurance. While residential awards recorded a smalldecline from August, contracts of this type are stillrelatively high. For the first 38 weeks of the year,such awards were valued at $965,000,000, a larger total

than for any comparable period since 1929. The gainover the same weeks in 1938 amounted to about one-half. Public-ownership awards are accounting for anincreasingly large proportion of total residential con-tracts. In August about one-fourth of all such con-tracts were for publicly owned construction, as comparedwith 11 percent during the first 7 months of the year.

Actual construction activity has been well maintainedin recent weeks, and the volume of construction underway is currently above that in the early fall of 1937.

Interest in the construction field is centered on thepossible effect of the European war on constructionactivity, particularly industrial construction. An in-crease in factory building large enough to have anappreciable effect on the total volume of constructionis not an immediate prospect, even in the event of alarge export demand in the near future, as a majorityof manufacturing plants are operating below capacity.The pressure on capacity in the immediate future islikely to be felt only in certain limited segments ofindustry, and there are a considerable number of vacantcommercial and industrial properties that could proba-bly be used for plant facilities if the need arose. Also,many plants that have been written off as obsolete inrecent years will be available under the pressure ofadditional business.

CONSTRUCTION, BUILDING MATERIALS, AND REAL ESTATE

Year and month

Construction contracts awarded

FederalReserveindex,

ad-justed i

Monthlyaverage,1923-25-

100

AH types ofconstruction3

Num-ber ofproj-ects

Mil-lions ofdollars

Residentialbuilding

Nonres-identialbuild-ing*

Publicutili-ties8

Publicworks2

Mil-lions ofsquare

feetMillions of dollars

Building-material shipments

Com-monbrick

Thou-sands

Lum-ber

Mil.bd.ft.

Oakfloor-

ing

Thous.bd. ft.

Ce-ment

Thou-sands ofbarrels

Con-struc-

tioncosts(Engr.News-Rec-ord) 3

Month-ly av-erage,1913=

100

Loans outstand-ing

HomeLoanbank

HomeOwners'

LoanCorp.

Thousands of dollars

Real-estatefore-clo-

sures(non-

farm)

Month-ly av-erage1926 =•

100

1929: August1932: August1933: August1936: August1937: August1938:


1039:JanuaryFebruaryMarchAprilMayJuneJulyAugust _.

Monthly average, Jan-uary through August:

1929193219331936193719381939

12230246262

667882

127291955635672

16, 0537,1858,186

12,91215,454

18, 77016,92619, 66417, 77216,027

13.28113,01520,23322.28223, 24421, 70121,80623,270

15, 6316,6287,030

11, 42615, 29316,17919,854

134.0106.0275.3281.2

313.1300.9357.7301.7389.4

251.7220.2300.7330.0308.5288.3299.9312.3

519.2116. 277.6

225.9262.0230.9288.9

29.55.56.424.418.9

23.621.827.223.422.7

20.019.230.728.432.627.527.231.2

36.86.55.917.622.018.227.1

146.120.821.9100.573.4

99.799.6112.795.391.5

80.279.0

125.2114.4133.8111.9109.3127.1

179.125.419.863.483.973.3

110.1

204.552.637.981.0

118.1

87.392.0

131.0116.0139.5

85.069.597.894.776.792.888.569.9

209.245.533.684.1103.074.284.4

39.33.813.817.026.1

38.026.221.219.744.3

29.518.519.635.321.810.023.120.1

43.05.44.816.125.622.222.2

99.056.832.376.763.5

88.183.292.870.7114.1

57.053.158.085.676.173.679.095.2

87.839.919.462.449.5

172, 748157,839

148,809142,900166,471151, 568133,184

101,05695,920166, 380178,903209,716199,945177, 718

2,1012,205

2,0331,8431,8471,7891,593

1,6621,5811,9951,8282,1172,0611,959

30, 40833,166

41,51134,49732,15631,56027, 686

26,91627,30831,95130, 60437,99937,40136,98544,666

4125,681i 159, 942

61.2 I «113, 39072.2 i« 161, 377

1,9772,1271,630

27, 77132, 78030, 66334, 229

23, 05210, 9685,99412, 62412, 291

11, 82311,71612, 3578,5736,290

5,6405,0438,4679,65412, 74812,71511, 75513,804

14, 2026,8115,3278,9599,6338,4509,978

205.9156.8167.0208.5240.7

232.4232.7234.3234.4234.9

234.7234.3234.4234.9234.7235.0234.9234.9

206.6156.2162.1203.7231.3236.7234.7

59, 797125, 211175, 604

189,415189,548189, 217189,685198,840

178,852170, 614161, 614157,176157,911168,962161, 537159,470

1972,898, 0252,497, 224

2,234,8992,221,4172,203,8962,186,1702,168,920

2,149,0382,134, 2612,117,5982,105,8242,091,3242,080, 5122,067,8442,059,792

196

169169153165159

154154173164186168159153

275237181164

i Based on 3-month moving average of values adjusted for seasonalvariations; the averages, 1929-39, are computed from unadjusted indexes.s Data revised 1929-36; see note marked with a dagger (t) on p. 21 of the July 1939 issue.3 Index is as of 1st of month; index for Sept. 1,1939, is 235.0. 4 7 months average, January through July.

179391—39 2


The Impact of War on Commodity PricesBy Milton Gilbert, Division of Business Review

MOST spectacular among the immediate economicreactions to the outbreak of war in Europe was

the upward spurt in prices of basic commodities.Under the impetus of a buying wave of extreme propor-tions in organized commodity markets, prices respondedsharply and rapidly. Professional traders, the public,and manufacturers alike participated in the purchasing.The upward surge was quite general and withoutmajor exception among the volatile commodity prices.The advance during the first week of war was probablyof record size for so short a period of time.

In contrast with the situation that prevailed in 1914,the present European war began during the expansionphase of an economic cycle in the United States.Domestic business had been expanding throughout thesummer months. The Federal Reserve Board's ad-justed index of industrial production showed an averagerise of over 3 points a month since May—from a figureof 92 for that month to 102 for August (1923-25 = 100).The increase in manufactures during the same periodwas even larger, the index advancing from 91 to 104.The volume of fall buying in wholesale markets indi-cated that the business community was less hesitant tomake commitments than in much of the period sincethe 1937 collapse. Economic analysts generally lookedfor a continued if moderate expansion in businessvolumes through the fourth quarter. The short-termoutlook for business seemed reasonably assured.

It is upon this economic setting that war broke. Theimmediate repercussions in the economic sphere revealedthe existence of widespread expectations that war-timeinflation would soon appear. A speculative and pro-tective buying wave broke in wholesale markets inanticipation of higher prices and future shortages.Even the consumer rushed in to obtain a stock of somecommodities which he remembers were scarce and ex-pensive 20 years ago.

The effect upon sensitive commodity prices was quitedramatic. Within a week basic commodities madesubstantial gains in both spot and future quotations.As an indication of what happened, Moody's spotprice index of 15 sensitive commodities rose from 140.3(December 31, 1931 = 100) on Thursday, August 31, to169.1 on Thursday, September 7. After advancing to146.9 on Friday, September 1, the index jumped to161.7 on the Tuesday after Labor Day. Customer'smargin requirements were raised on many commodityexchanges, and allowed price movements for oneday's trading in grain futures were widened in an at-

tempt to facilitate orderly markets. Having reachedthe week's peak on Thursday, the index settled severalpoints in the next few days but rose again to 169.1 bythe end of the following week. On Friday, September 22,it stood at 172.8. During the early part of the month,quotations on some commodities were purely nominal.

The first week of war had a similar effect on the pricesof futures contracts. The Dow-Jones index of com-modity futures covering 11 quotations rose from 47.8on August 31 to 60.0 on September 7 (1924-26=100).On September 5th and 6th, futures contracts for mostleading commodities rose the limits allowed for one day.Trading was often at a standstill for lack of sellers.Since that time there has been a general tendency forfutures quotations to recede slightly as the speculativewave subsided and for the gap between spots andfutures, created earlier in the month, to narrow.

Commodity prices generally were not at high levelswhen the war came, and farm prices were quite low.Moody's index had been fluctuating narrowly around140 during August, a figure to which it had graduallyreceded from an approximate 145 level in the last weekof May. The same movement was characteristic of amuch broader range of commodities. The Bureau ofLabor Statistics combined wholesale price index de-clined from 76.2 (1926 = 100) to 75.0 between May andAugust and had been moving lower for almost a yearbefore. Thus, price movements over the summer con-trasted with the upward movement of industrial pro-duction. The peculiar thing is that prices, which hadbeen depressed by the threat of war, went up—notdown—when hostilities commenced.

Rise Largely Concentrated in Early September.

Individual prices for selected foodstuffs and indus-trial materials are given in table 1, below. It is evidentthat the major rise was concentrated in the first fewdays of war. Prices of foodstuffs generally advancedmore sharply than those of industrial materials by themiddle of the month, perhaps because of the relativelylower levels at which foodstuffs stood at the end ofAugust, but probably also because of the expectationthat war demands would first be felt in this class ofcommodities. Since then the industrial materials havetended to hold up while certain foodstuffs have experi-enced some corrective price movement. Prices of afew imported materials, such as cocoa and rubber, havelately been depressed by the further decline in thepound sterling.


A broader view of September price movements isgiven by the Bureau of Labor Statistics weekly indexof wholesale prices shown. These data (table 2) showclearly that the larger part of the price rise came beforeSeptember 9. The "all commodities'7 index rose from

Table 1.—Prices of Selected Foodstuffs and Industrial Materials

Item

FOODSTUFFS

Wheat, No. 2, hard, Kansas City, ordi-nary protein cents per bu-.

Oorn, No. 3, yellow, Chicago ._doRye, No. 2, c. i. f. New York doSugar, 96° delivered, duty free

cents per lb-.Coffee, Santos, No. 4, New York__.doCocoa, Accra, New York doHogs, Chicago J dol. per cwt-.Lard, cash, New York._ cents per lb_.Beef, Chicago i_._ dol. per cwt_.

INDUSTRIAL MATERIALS

Cotton, 10-market average, .cents per lb_.Silk, New York.. dol. per lb_.Wool, av. for quarter-blood territory,

Boston cents per lb_.Hides, heavy native steers, Chicago

cents per lb_.Rubber, plantation, New York doCopper, electrolytic, New York doLead, New York doTin, Straits, New York do-_ .Zinc, New York doSteel scrap 4 dol. per ton..

Aug.31

664 5 ^58M

2.92

4.472 5.62

5.752 8.92

8.552.65

60

1116K10K5.05493^5.14

15.46

Sept.2

7551

64H

3.247V8

5.005.976.459.32

8.492.65

60

3 1119H

115.05

525.39

15.62

Sept.9

845 8 ^67%

3.807M

6.607.578.25

10.40

8.932.85

3 75

3 142 2 ^

125.303 66

6.3915.62

Sept.16

85K60

71K

3.707%

5.957.338.20

10.22

8.823.18

86

162 2 ^

125.50

3 656.64

16.75

Sept.23

85H57

72M

3.651%

6.237.468.10

10.17

8.713.17

86

16M22K

125.50

3 686.64

19.25

Per-centagechangeAug. 31

to Sept.16

+29.5+32.2+22.1

+26.7+7.7

+33.1+30.4+42.6+14.6

+3.2+20.0

+43.3

+45.5+33.3+14.3+8.9

+31.3+29.2+8.3

1 Average of prices for week ending Saturday.2 Average of prices for week ending Saturday, Aug. 26,1939.3 Nominal.4 Composite price for Tuesday of each week.Source: Journal of Commerce.

74.8 for the week ended August 26 to 78,4 for the weekof September 9. In this classification of wholesaleprices the farm products, foods, and hides and leatherproducts groups had the largest advances up to themiddle of the month. The tendency after that timewas for the price movement to broaden out and to bereflected in all groups. Though the movement of thefinished products index was much slower than that forraw materials and semimanufactures, it also reflectedthe general upswing. According to the latest availabledata, farm products and foods declined fractionally.

While some response in retail prices to the rise inwholesale markets may be expected, there are no indica-tions of a general move in this direction as yet. Certainfoods, however, experienced immediate and rather sub-stantial retail price advances. This was due to thefact that many consumers were buying far beyond theirimmediate needs, as well as to the price movement inwholesale markets. The rush of consumer buying inmany areas swept grocers' shelves clear, for a brief time,of certain items (such as sugar, flour, and beans). TheBureau of Labor Statistics reported, after a specialsurvey, that retail prices of 11 staple foods in the 11cities sampled rose about 10 to 15 percent in the monthfollowing August 15, but it is unlikely that advances ofthis magnitude have been communicated to more than afew items. The largest increases, generally 25 percent

or more, were for sugar and lard, while navy beans ad-vanced sharply in a few cities. Coffee, cocoa, and breaddid not share in the rise in most cities.

Looking at the level of prices from two angles, thesharp rise in September is rather surprising. The firstis the current volumes of commodity stocks and inven-tories; the second is the behavior of prices during theopening weeks of the war in 1914.

Table 2.—Weekly Index Numbers of Wholesale Prices, Aug. 26-Sept. 23, 1939

[1926=100]

Group

All commodities-.

Farm productsFoods.All commodities other than farm prod-

ucts and foods.Hides and leather productsTextile productsFuel and lighting materialsMetals and metal productsBuilding materialsChemicals and drugs.House-furnishing goodsMiscellaneous

Raw materialsSemimanufactured articlesFinished products...

Aug. 26

74.8

61.166.7

80.492.667.473.293.589.774.287.073.166.274.479.3

Sept. 2

75.3

62.768.5

80.492.767.273.293.589.774.487.073.267.174.679.7

Sept. 9

78.4

68.174.5

81.796.368.474.094.690.175.987.076.171.879.781.9

Sept. 16

79.3

69.775.5

82.499.971.474.194.990.777.187.176.173.082.082.3

Sept. 23

79.5

69.575.1

83.0101.972.374.295.391.077.988.876.673.083.382.5

Source: Bureau of Labor Statistics, U. S. Department of Labor.

Stock Situation.Some data on the available stocks of raw materials

and semimanufactures are given in table 3. The generalpicture revealed by this table is that visible stocks ofcommodities as of the middle of this year were at ratherhigh levels. In some cases current volumes have recededfrom the figures reached during the inventory boom of1937, but current stocks of a significant number ofcrude products are even higher than at the end of thatyear. The current figure for a majority of the items issubstantially above the midyear levels of 1936. Thisis particularly true of fats and oils, sugar, and wheat.The most significant exceptions are silk, rubber, andwool. In view of the level of industrial production andcurrent rates of consumption, the relatively large avail-able stocks of raw materials would seem to militateagainst a substantial price rise at this time.

The Dun and Bradstreet midyear survey of inven-tories casts some further light on the current businesspicture. Inventory trends since January 1, 1936, in themajor classifications of retailing, wholesaling, and man-ufacturing are shown in figure 3. While industrialproduction in July of this year was only moderatelyhigher than in January 1936, Dun's study indicates asubstantially higher volume of inventories. With nosignificant difference in prices, the dollar values ofinventories in the hands of wholesalers and manufac-turers were approximately one-fifth higher on July 1 ofthis year than at the beginning of 1936, and retailers'stocks were up 13 percent. There has been some liqui-dation of inventories from the high levels reached in1937—a change particularly evident in the decline of


the manufacturing index since that time. This liqui-dation would be somewhat smaller on a quantity basisas prices at midyear were lower than in January 1938.The trend for the first half of this year was moderatelyupward, except in the case of stocks held by manufac-turers, though no adjustment for seasonal changes hasbeen made. This study suggests that substantial addi-

RELATIVES, JANUARY I, 1936- 150

100

140

130

120

MO

100

90

v^.

/

/J-'""^RETAIL!

\fMANUFAC\

w

1

rUR/NG

- • * — ^

I

Jan./,1936

Jan./,1937

Jan./, Julyf, Jan./, July 1,/93S 1938 1939 1939 °%f

Figure 3.—Indexes of value of inventories, specified periods, 1936-39.(Dun & Bradstreet, Inc.).

tions to inventories would not be required to handle theincrease in business which seems likely for this winter.

Table 3.—Stocks of Selected Commodities, 1936-39

Commodity

Lumber M bd. ft--Portland cement (includes clinker

or unground cement)thous. of bbL_

Animal fats thous. of lb-_Fish oils doVegetable oils (crude and refined)

thous. of lb.-Butter, cold-storage, creamery

thous. of lb.-Lard, cold-storage doMeats, total (excludinglard), cold-

storage thous. of lb-_Wheat, world estimated (excl. U«

S. S. R. and China)..mil. of bu._United States do

Tobacco (leaf) mil. of lb- .Anthracite, producers, storage

yards thous. of short tons..Bituminous coal, industrial and

retail dealersthous. of short tons..

Copper, refined short tons.-Lead, refined doTin, visible supply, world

long tons-.United States do

Crude petroleum, refinablethous. of bbL_

Gasoline doRubber, crude, world, .long tons..

United States doRubber, reclaimed __doCotton, world thous. of bales..

American cotton, world.doForeign cotton, world.-.do

Wool, scoured basis.-thous. of l b . .Cattle hides and leather

thous. of equiv. hides._Wood pulp short tons.-

End of-

Ju ly_ . . .

June . . .. . . d o . . .

. . . d o . . .

August.

-_do_ —

June...do...do

July

...doAugust..

___do

July...do.. .do._._August..._.doJuly____...do

June

July—do

1936

7,804

24,054384, 716148,147

1,122,003

112,106110, 561

560, 891

766

"""2,175

1,556

30,126218, 705218, 233

17, 6423,095

306, 39055,922

519,074230,167

16, 48713, 6496,9986,651

147, 057

17, 584126, 731

1937

7,927

30,141376, 503149, 449

I, 207,021

134,885118,1

463,435

53983

2,026

1,895

43, 371117,741103, 518

26, 0165,850

308, 72662,956

445, 782179, 590

21, 60013, 7666,2357,531

142, 554

15, 030161, 609

1938

8,511

29,374,159,

201,116,

431, 272

600153

2,179

1,757

33, 615339, 970142, 868

32, 2515,232

288,66470, 224

580, 654273,841

13,91822, 63913,7128,927

139, 260

13,865228, 794

1939

7,979

28, 305403, 809180, 364

1, 490, 813

173. 093112,145

463, 633

1,200254

2,136

29, 575316, 543117,985

26,3383,613

270, 57071, 824

418, 639161,35820, 64521, 95214,1507,802

122, 915

13, 026200,803

NOTE.—Except for world stocks of wheat and stocks of refinable crude petroleum,monthly data together with descriptive notes are given in the 1938 Supplement tothe Survey of Current Business. All data refer to domestic stocks, except whereotherwise specified. The statistics are not complete in all instances, but they aresatisfactory for the purpose of indicating trends.

Price Movements in 1914.

The data presented in figure 4 exhibit a striking con-trast between commodity price changes in the first 3

weeks of war in 1914 and 1939. The 1939 movementwas a general one which embraced all of the basiccommodities, but after the outbreak of war in 1914,the movement was both less substantial and moreselective. Rubber, tin, and sugar at that time doubledin price during the second or third week of hostilities;other prices moved within much narrower limits, anda significant number of commodities showed a down-ward trend. Lead, lard, hogs, beef, cotton (not shownon chart owing to closing of exchange), and coffeewere all lower during most of August 1914. Thegeneral impression one gets from the chart is that,apart from three commodities, prices were very quietimmediately after the beginning of the 1914 WorldWar. More significant still is the fact that by themiddle of September 1914 a definite corrective pricemovement had set in which left only zinc, wheat,cocoa, and sugar at prices above their end-of-Julylevels. Sugar remained at virtually double its formerprice, wheat was up 20 percent, zinc 9 percent, andcocoa 7 percent. All of the other 10 commodities wereselling at substantially the same prices as a month anda half earlier, or within 10 percent lower. Quiteobviously the market was not following a 1914 precedentwhen it bid prices up sharply upon the outbreak of thecurrent European war.

The aspect of the World War situation which diddecidedly affect market psychology—the spectacularrise in prices that came during the war years startingwith 1916—is clearly shown in figure 5. Until thelast quarter of 1915, after more than a year of war,there had been no significant movement in the majorprice indexes except the gradual decline in the foodsindex. Then a violent upward movement beganwhich carried on through the war years and into thesummer of 1920. In the period 1917 to 1919 the farm-products index advanced more rapidly than the othercategories of commodities. Concentrating attentiononly on the period prior to the entry of the UnitedStates into the war, the general index of wholesaleprices rose 58 percent—from 68.3 in September 1915to 107.7 in March 1917. Without doubt it was thiswell-remembered experience of soaring prices duringwar that served to push up quotations over a broadfront last month. Traders and producers were tryingto cover their future needs as far as possible whilesomething like a 1914-15 level of prices for the presentwar period still existed. And by that very action theconfiguration of price movements is already differentfor the century's second major war from that of its first.

The important question for business at the presenttime is whether the general shape of World War pricemovements will be duplicated during the present strug-gle. The 1916-17 rise of prices was a direct conse-quence of the inflationary methods used to finance thewar. This communicated itself to our economic systemthrough a materially enhanced demand for UnitedStates exports. At the outset crude foodstuffs com-


JULY 28, 1914= 100225

200

175

150

125

100COCOA

7 R I 1 1 I 1 1 I 1 1 1 1 I I 1 1 1 I I 1 1 I 1 1

JULY 28, 1914 = 100150

25

CORN

COPPER

-LARD

AUG. 31, 1939 = 100225

•COCOA TIN

i i i i i i i i i i i I I I I I I I

200

175

50

125

100

AUG. 31, 1939 = 100150

125

100

7 5 1 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I i i I i | 1 | I M i i 1 7 5AUG. AUG. AUG. SEPT. SEPT SEPT. SEPT.

31 2 9 16 23JULY

28AUG.

IAUG.

15 22

1914 1939 D. a 245-59

Figure 4.—Gomparl .on of price movements of selected commodities at the outbreak of the European wars of 1914 and 1939.(Source of basic data—Journal of Commerce.)


prised the category of goods in largest demand but itsimportance declined as the conflict moved on. Finishedmanufactures showed the greatest increase as total ex-ports continued to grow, whereas exports of crudematerials, including cotton, decreased in quantity andvalue during the war years. The value of total exportsremained rather low throughout 1914 except for De-cember, but showed a continuous advance from 1915to 1917. From $2,114,000,000 in 1914 exports rose to$3,555,000,000 in 1915 and to $6,234,000,000 in 1917.Of course, the major part of this rise is accounted forby mounting prices. So far as the effect upon internalUnited States prices and business activity is concerned,this increase in exports is crucial. For only in thisway can the war stimulus be felt.

in demands due to war and the disruption of productivefacilities resulting from war may be on a smaller scale.

4. The world's productive machinery and the exist-ing stocks of raw materials are much larger now thanin 1914. There is some doubt as to the net increasein demand for United States products from the Alliesafter the resources of the British and French Empireshave been mobilized.

5. Because of widespread dissatisfaction with theeconomic disruption caused by the last war, it is possiblethat inflation will be avoided this time. The recordhigh income tax rates announced in Britain late in themonth represent a move in this direction.

6. Even if some internal inflation is allowed, importsand the whole balance-of-payments position of the

1NDD

180

160

140

120

100

60

40

0 (

( NUMBERS, 1926 = 100

J* < /

FA

1

RM PROD

\

/

/I

JCTSA

Nr

c

/HV

ALLMMODIT

111H I OTHERIM COMMODITIES

IES '

FO DDS

fOTHCOMMO

N \

E R vV,)ITIES \

ALLCOMMODITIES

yk

INDEX NUMBERS, 1926 = 100

Vr-J

JPRODUCTS

1914 1915 1916 1917 1918 1919 1920 1921 1922 1929 1930 1931 1932 1933

FOODS A

w

1934 1935 1936 1937 1938

<

180

160

140

120

100

80

60

> 0

1939O D.39-Z40

Figure 5.—Indexes of wholesale prices, by groups, 1914-22 and 1929-39. (U. S. Department of Labor.)NOTE.—September 1939 prices are estimates based upon available data.

It may now seem probable to many that the presentwar will likewise be financed through inflationary pro-cedures and that our exports will respond sharply tothat stimulus. There are, however, many factors inthe situation which may cause disappointment to thisexpectation and which create the possibility thatSeptember's price rises may not be validated.

1. The war may not prove to be a long one, in whichcase no significant demand for our exports may arise.

2. The intensive preparations made for war since1936 stand in marked contrast to the unexpectednessof the last war. Presumably the belligerents have ac-cumulated sizable stocks of required materials. For 2years or more our exports have been feeling the effectsof the armaments boom abroad.

3. The war to date is on a much smaller scale than in1914, and hence the demands for our products may bemuch smaller. If Russia, Italy, the Balkan countries,and Belgium stay out of the conflict, both the increase

belligerents may be so rigidly controlled that there isno net effect on our economy. This has been the casewith Germany for the past 5 years. England andFrance have already announced exchange control, andthe decline in sterling last month indicates that Englanddoes not fear a decline in imports and is definitely dis-couraging capital exports.

Lastly, with regard to the immediate future, thereis a decided possibility, as was the case in 1914, thata period of 6 months or so may elapse before war ordersin any sizable volume materialize. If so, there is areasonable doubt that a higher level of prices can bemaintained in the interval.

It is necessary to emphasize, however, that pricerelationships as of the end of August may not haveaccurately reflected current and prospective supplyand demand conditions. Thus, even some readjust-ment of prices from the gains made in September isnot apt to reestablish the pre-war levels.

October 1939 SURVEY OF CURRENT BUSINESS

NEW OR REVISED SERIES

Table 41.—INCOME PAYMENTS >

15

Year and month

Index oftotal

incomepay-

ments,adjusted

1929=100

Totalincome

pay-ments

Mil. ofdol.

Salaries and wages a

Ad-justed!Index

1929=100

Total

Com-moditypro due- jing in- !

dustries 3

Distrib-utive

indus-tries *

Serviceindus-tries «

Gov-ern-

ment

Workreliefwages

Directand

otherrelief

SocialSecuritybenefits

andotherlabor

income8

Divi-dends

and in-terest

Entrepre-neurialincomeand net

rents androyal-ties7

Totalnon-

agricul-tural

income9

Millions of dollars

Indexof non-agricul-

turalin-

come t8

1929=100

1929

Monthly average.

1930

JanuaryFebruary._MarchAprilMayJuneJulyAugustSeptember.OctoberNovember.December.-

Monthly avera

1931

JanuaryFebruary._MarchAprilMay _June .-JulyAugustSeptember.OctoberNovember.December. _

100.0

98.597.395.695.094.092.390.489.488.687.285.684.3

91.5

83.182.385.985.580.477.976.674.973.172.071.370.2

77.8

68.267.465.463.361.559.257.957.557.357.256.856.6

60.7

56.255.553.953.755.056.356.758.160.060.460.562.1

57.4

64.664.865.064.365.565.866.367.566.868.067.867.6

Monthly average... 66.2

See footnotes on p. 16.

Monthly average-.

1932JanuaryFebruary. . - .MarchAprilMay _.JuneJulyAugustSeptemberOctoberNovemberDecember

Monthly average...

1933JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptember...OctoberNovember...December

Monthly average. _.

1934JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptember...OctoberNovember...December

6,805

7,0466,2416,3126,4386,3366,4126,3955,8275,9636,1905,7725,739

6,223

5,8935,2715,6685,8115,3935,4215,4054,8774,9195,1284,8194,792

5,283

4,8894,3024,2874,3184,1444,1684,0803,6963,8264,0523,8093,827

4,117

4,0513,5373,5303,6343,6843,8834,0033,7434,0144,3724,0624,264

3,898

4,7184,2144,2904,4184,2714,4704,6264,3554,5884,9694,4794,769

4,514

100.0

98.196.495.394.393.392.090.389.388.787.585.884.0

91.2

82.782.181.480.278.777.276.174.973.271.770.969.5

76.6

68.266.564.662.060.057.655.955.455.655.955.455.1

59.3

54.654.051.551.151.953.254.457.158.359.059.462.2

55.6

64.564.764.863.764.564.564.665.163.764.765.165.1

64.6

4,363

4,1234,0754,0924,1144,1504,1293,9153,8493,9243,9413,7783,680

3,981

3,4813,4693,5013,4993,4993,4673,2853,2113,2383,2333,1203,041

3,337

2,8842,8222,7852,7172,6762,5902,3942,3612,4612,5272,4512,403

2,589

2,3102,2712,2172,2322,3092,3892,3342,4432,5772,6592,6172,724

2,424

2,7722,7642,8202,7982,8542,8512,7422,7572,7922,8962,8732,892

2,818

L, 808

1,5981,5981,5961,6111,6281,6231,5561,5311,5271,5151,4101,315

1,542

1,2201,2331,2391,2451,2441,2171,1811,1571,1251,1001,034983

1,165

906896864827795759727723745766728692

786

659669636655697751786846884890848825

762

826890947983

1,0061,001966977946985960972

955

1,153

1,1311,0941,1121,1121,1241,1091,0791,0541,0531,0601,0271,036

1,083

984962982973970963936909899897871868

935

810772775755746715686670676689669674

720

638607594602615624632663680708692701

646

678675701708719719719712718734722741

712

992

9829739689629579469?7912908902889890

935

866860857846834826807788782775766749

813

742729715697688663639627626629621615

666

605590573570573580582600612626627631

597

634637643650658658655652651665666671

653

410

412410416429441451353352436464451436

421

409411419431445455354353428456443433

420

415413417428437444333331404432421408

407

387381384375385388288287360388380362

364

365371372377391398314318390416418406

378

13

234466744568

5

1112141010991010111214

11

2124303039464647414770205

54

26919115780807588988796107102

119

6

889987888101013

9

151515141312121313141519

14

182226252627242728313846

28

464956504745413939414952

46

505260616259576261687281

62 i

72

737374747468807676787981

76

808538843517511711310310010198106

158

103979595939010811095929090

97

89QQOO

898785101687070686767

79

676868687674747474747474

1,

1,

1,1,

1,

1,

1,

1,

960

517838924023879035236737767962794888

967

275724784899744904078670696877716791

847

076593637756634782879521546697544621

691

935AQQ4»y

527613533626801455486726519646

614

004549549709455643860498633829466780

1,404

1,3251,2471,2131,2181,2251,1731,1561,1571,1881,1991,1111,077

1,191

1,042978980964962921917880872903870835

927

768744725715679675677696705686667

712

671630641652710722759736842878810775

736

825783793782824843893964

1,0281,102994942

72 I 665 i

6,126

6,4575,7295,8155,9175,7805,8935,8875,3265,4205,6215,2955,316

5,705

5,5094,9435,3165,4585,0245,0775,0534,5654,6014,7634,4884,506

4,942

4,6274,0664,0574,0913,9073,9543,8603,4733,5753,7813,5583,602

3,879

3,8253,3433,3233,4043,3873, 5653,6513,4273,6563,9583,6853,950

3,598

4,3443,8893,9664,1033,9144,0924,2073,8834,0574,3633,9944,352

4,097

100.0

99.097.796.796.095.093.792.691.490.689.588.0

93.1

85.484.788.888.583.080.879.679.276.575.274.273.2

80.7

71.070.168.466.264.362.260.960.359.959.959.359.0

63.5

58.457.756. 155.556.057.057.459.460.360.961.563.6

58.6

65.265.666.165.666.666.667.067.466.567.468.068.2

66.7


Table 41.—INCOME PAYMENTS'—Continued

Year and month

Indexof totalincome

pay-ments,

adjusted f

Totalincome

pay-ments

1929=100 Mil. ofdol.

Salaries and wages 2

Ad-justed tIndex

1929=100

Total

Com-modity

pro-ducingindus-tries s

Dis-trib-utive

indus-tries *

Serv-ice in-dus-tries 5

Gov-ern-

ment

Workreliefwages

Directand

otherrelief

Socialsecuritybenefits

and otherlabor

income 6

1Divi-

dendsa n d

interest

Entrepre-neurialincomeand net

rents androyal-ties 7

Totalnon-

agricul-tural

income6

Millions of dollars

Index>f non-igrieul-tural

in-come* f

.929 = 100

1935

JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovember

December

Monthly average.

1936JanuaryFebruary. _.MarchAprilMayJuneJulyAugustSeptember.OctoberNovember.December..

Monthly average..

1937JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovember

December

Monthly average. _

1938

JanuaryFebruaryMarchApril._MayJuneJulyAugustSeptemberOctoberNovemberDecember _. .Monthly average..

69.070.070.070.870.370.270.072.172.974.275.075.9

71.7

75.876.577.778.579.893.188.383.583.684.885.887.2

82.9

86.587.689.989.689.390.190.591.089.688.886.784.9

88.7

82.981.882.081.079.980.080.81.381.882.683.183.4

81.7

4,8774,5064,6814, 9354,6094,7864,7204,6425,0595,4034,9765,378

4,881

5,2664,9215,2375,3865,2186,3706, 0185,2645,8166,0905,6117,019

5,685

5,8835,4556,0166,1105,7586,3396,1835,8796,1586,3305,6366,702

6,037

5,6715,1265,3695,5245,1865,5575,4815,1625,6575,8865,5076,145

5,523

67.368.368.168.468.368.568.770.170.771.672.774.4

69.8

75.275.976.777.278.079.080.081.281.282.583.884.5

79.6

83.485.186.286.887.888.188.389.387.987.284.881.8

86.4

79.378.478.177.777.277.277.879.80.481.482.483.0

79.4

2,8862,9192,9633,0053,0243,0292,9132,9633,0993,2083,2023,302

3,043

3,2273,2453,3373, 3943.4533,4973,4003,4363, 5553,6893,6883,748

3,472

3,5753,6423,7623,8223,8903,8993,7573,7923,8463,9003,7373,636

3,771

3,3943,3763,4003,4153,4133,4143,2963,3793,5253,6393,6343,672

3,463

9761,0241,0431,0471,0431,0481,0281,0761,1131,1481,1301,142

1,068

1,0971,1041,1511,1881,2181,2471,2461,2831,3001,3571,3591,385

1,245

1,3141,3671,4281,4761,5081,5101,4941,5261,5021,5061,3741,255

1,438

1,1341,1501,1441,1311,1301,1231,1241,1791,2201,2591,2481,244

1,174

719712734747753754750749768784772805

754

771773795802812819823822838860856887

822

834837877881897905902913914927899911

891

839817831835827822819823838856853

837

675680685689690694693693701712716725

696

728735738744750757759762769784791806

760

792806818822828835836840840847842841

829

813796788784772769762773778790799814

787

399397403421429433340346425457453453

413

441437446457469477379372452482478480

448

463460467473

386468496495501

464

476473480490501508412412497532531527

487

117106981011091001029992107131177

112

190196207203204197193197196206204190

199

172172172170171161137127122124127128

149

132140157175183192179192192202203198

179

888592937882818483887968

83

626261565150505153565865

56

717276726663636567697483

70

899091858180808080808388

84

747474757575767579787879

76

7979797878

879492156127115105106

198

989393908797949191929294

93

94111138131131138135145139133126124

129

879520622807471668711494701826477829

667

869557722799513786864461844887497

1,832

803

912491806899517

1,067986640836903494

1,674

852

924469612790470835839440723775484

1,115

706

950908930955961932939

1,0261,0971,2031,1401,100

1,012

1,029978

1,0381,0591,1231,1581,2121,1601,2371,3431,2631,268

1,156

1,2271,1571,2791,2271,1981,2131,2831,2911,3181,3661,2391,215

1,251

1,1701,0801,1281,1031,0911,0901,1311,1181,1901,2591,1801,146

1,141

4,4854,1274,2784,4994,1614,3614,2904,1324,4864,7264,3874,838

4,398

4,8224,5344,7944,9174,6865,7995,4054,7145,1895,3644,9796,396

5,133

5,3184,9575,3985,5395,2095,7705,5485,2415,4925,6085,0486,154

5,440

5,1744,7094, i"""5,0604,7195,0834,9594, r - -5,0925,2544,9675,657

5,020

69.870.470.370.770.470.770.972.072.773.674.375.5

71.7

76.477.278.178.679.493.588.384.183.984.985.988.7

83.1

86.287.588.689.189.790.290.491.090.089.387.585.3

88.7

82.582.481.580.780.780.882.582.883.584.284.7

82.5

t Adjusted for seasonal variations.1 Revised series. The revisions were occasioned principally by the adjustment of the monthly data to this Bureau's annual estimate of national income for 1938 and the

revised estimates for earlier years. In addition, the method of presentation has been changed considerably. The content of the new series is indicated briefly below, butfor a full discussion the reader is referred to a bulletin soon to be published by this Department. Monthly figures for 1929 are available upon request. Seep. 19 for 1939 data.

2 Includes income in kind as well as cash income.3 Includes Agriculture, Mining, Manufacturing, and Contract Construction.* Includes Trade, Transportation, Electric Light and Power, and Manufactured Gas.«Includes Finance, Service, Communication, and Miscellaneous industries.• In addition to benefits payable under the Social Security program, this item includes pensions paid out by private industries and governmental agencies, compensation

for industrial accidents, pensions to veterans, and also loans to World War veterans on their adjusted service certificates, and since June of 1936 adjusted service certificatepayments less prior loans. These latter items account for the sharp rise in this type of income in 1931 and 1936. Loans and payments to veterans on their adjusted servicecertificates were carried as a separate item in the earlier series (cf., October 1938 Survey).

7 Differs from series carried previously in that business savings in agriculture are now included m entrepreneurial income,s Excludes net income of farm operators, wages of agricultural labor, and interest and net rents on agricultural property.


Table 42.—EMPLOYMENT AND PAYROLLS IN MANUFACTURING INDUSTRIES

17

Month

January _. . . .FebruaryMarchAprilM ayJuneJuly -AugustSeptember . . _ .OctoberNovemberDecember

Monthly average... . . . -

January __ . . . . . . .FebruaryM archApril . . . . .MavJune . . . .JulyAugust . .SeptemberOctoberNovemberDecember

January . . . _FebruaryMarch. . . . . . .AprilMay . -JuneJulyAugust _ . . . ._SeptemberOctober .November ._ _. ...December

Monthly average

Employment, without adjustment for seasonal v

Total, all industries

1934

78.883.787.288.889.087.886.387.483.585.984 385 6

85.7

80.783.986.988.389.088.387.386.481.384.484.686.4

1935

86.789.691.091.289 988.388.791.793.995.294 694 2

91.3

88.990.090.690.790.089.290.091.092.093.094.294.7

1936

92.392.793.995.596.497.098.4

101.2103.8104.9104 9106 4

99.0

94.693.393.695.196.797.999.8

100.6101.6102.4104.4106.9

1937

104.7107.6110.1111.3111.5110.3110.9112.3112.3110.3104 197 4

108.6

107.3108.4109.8111.0111.8111.2112.3111.7110.3107.8103.797.9

1938

90.691 190.688.586.184.384.788.892.092.493 394 0

89.7

93.091.990.488.286.485.285.887 889.990 292.894.4

1939

92.293.694.394.193 093.493.596 4

Durable goods

1934

65.169.473. 576.678. 377.675.172 970.769.368 871.2

72.4

Employment,

94.694.394.093.893.394.394.895.7

66.969.973.275.676.776.475.272.770.569.469 471.7

1935

73.577.379.380.279 777.477.379 179.983.885 184.7

79.8

1936

83.283.084.787.589.690.591.091.392.596.398 3

100.4

90.7

1937

97.9101.2104.9107.4109.1107.8108.2107. 5106.8107.2101 492.4

104.3

1938

82.480.880.077.775.773.170.972.475.979.782 983.8

77.9

1939

82.383.384.184.884.084.682.984.2

iriations

Nondurable goods

1934

91.897.2

100.2100.499.397.697.0

101.295.8

101.899 099.4

98.4

1935

99.3101.3102.2101.799.698.699.6

103.7107.2106.1103 7103.2

102.2

with adjustment for seasonal variations

75.377.978.879.078.276.778.079.980.882.684 284.6

85.283.884.386.588.489.791.892.393.494.997 3

100.2

100.3102.2104.3106.2107.6106.9109.2109.1108.3105.7100 492.3

84.581.779.777.074.872.571.472.876.478.382 183.7

84.484.283.783.982.983.983.784.9

93.897.399.9

100.4100.899.798.999.491.498.899.1

100.4

101.8101.6101.8101.9101.2101.0101.4101.7102 6102.9103.8104.2

1936

101.0102.0102.7103.0102.8103.1105.4110.7114.5113.1111.3112.2

106.8

103.6102.4102.4103.3104.5105.6107.4108.5109.4109.6111.3113.3

1937

111.2113.7115.1115.0113.8112.6113.5116.8117.6113.3106 7102.2

112.6

114.0114.4114.9115.4115.7115.3115.3114.2112 2109.8106.7103.3

1938

98.5100.9100.798.796.094.997.8

104.4107.3104.6103 1103.8

100.9

101.0101.6100.598.997 697.299.4

102.1102 7101.5103.1104.7

1939

101.7103.5104.0103.0101.6101.8103.6108.0

104.8103.9103.4103.3103.3104.2105.4105.9

Pay rolls, without adjustment for seasonal variations

56.162.967.269.669.767.462.865.160.864.062.566.2

64.5

67.572.674.474.671.869.869.174.076.879 578.680.5

74.1

76.976.680.582.684.084.283.587.387.292.994.499.2

85.8

94.6100.1105.9109.7110.1107.6105.2108.7104.9104.993.384.6

102.5

75.377.577.674.973.271.171.177.381.684.284.487.1

77.9

83.786.087.685.585.086.584.489.9

43.149.654.859.660.959.251.351.747 148.248.152.7

52.2

55.161.663.664.962.660.058.262.564 670.471.973.5

64.1

69.168.173.278.281.081.678.779.880 188.692.497.3

80.7

90.396.8

104.9112.0113.3109.9106.1109.2104 7107 093.880.2

102.4

66.566.666.865.063.661.158.163.168 174.677.679.6

67.6

76.077.779.479.578.880.776.081.7

. . . . . . .

70.777.881.280.979.576.775.780.276.281.678.581 4

78.4

81.385.086.485.482.280.981.286.890.489 686.288 4

85.3

85.786.188.887.487.387.189.095.895.197.896.6

101 3

91.5

99.4103.9107.0107.0106.4105.1104.1108.1105.1102 592.689 4

102.6

85.189.689.686.084.082.385.793.296.794 992 195 4

89.6

92.495.396.792.291.993.093.899.2

i Indexes without adjustment for seasonal variations are computed by U. S. Department of Labor, Bureau of Labor Statistics; the employment indexes are adjusted for sea-sonal variations by the Board of Governors of the Federal Reserve System. All data have been adjusted to the 1937 Census of Manufactures. For earlier monthly data seetables 1 and 2, pages 15 and 16 of the December 1938 Survey. The revisions in the individual groups and group totals beginning 1935 are available in releases of the U. S.Department of Labor (unadjusted indexes) and of the Board of Governors of the Federal Reserve System (adjusted indexes). Earlier monthly data for the individual groupsmay be found on pages 13-18, tables 76 and 77 of the November 1938 Survey.

Table 43.—SALES OF WASHING AND IRONING MACHINES 1

[Number]

Washing machines

Year Month 1933 1934 1935 1936 1937 1938

Ironing machines

1933 1934 1935 1936 1937 1938

1929 1,133,860Monthly average 94,4881930 812,789Monthly average 67, 7321931 . . . 850,626Monthly average 70,8861932 610,881Monthly average 50,907

JanuaryFebruary._MarchAprilMayJuneJulyAugustSeptember .OctoberNovember..December..

47, 76258, 68956, 78062, 56978.11793. 866108, 334144,092141,827111, 16570.11856, 746

82,136106,592136,401138, 491127, 37695,88487, 675111,698104, 589106,87576, 20666, 361

90,102112, 824139, 743140,778118, 51294, 347109,469144,123154,008137, 72885, 307

120,530125, 276170,176149,556144,823151, 049169,141173,678174,835153,852102, 68993, 532

121, 754149, 534189,393185, 328160, 246143,073147,986148, 206149, 235116, 00175, 42055,843

72,61194, 734117,02595,15884,01678, 35474,019129,163125,821115,01984,19267, 502

4,1733,8103,4394,0173,8736,3428,1427,8127,0748,7025,9996,608

7,1059,68812,84313,35110,0208,3129,56211,87910,4889,6026, 6576,562

8,03110,02110,80815,00514,10110,81410, 73714,01814,98413,99510,17811,164

13, 31612,93120, 29515,44614,84011,21614,94416, 44016,98517, 39411,69714,777

15,89414,90719,08617, 99212,06214, 75514,57419,31919,09412,4479,5489,180

8,96710,82310,7277,1116,6757,0467,98311,97711, 27210, 5238,2269,210

Total

Monthly average _.

1,030,065

85,839

1, 240,284

103,357

1,413,761

117, 813

1, 729,135

144,095

1,642, 019

136,835

1,137,614

94, 801

69,991

5,833

116, 069

9,672

143,856

11, 988

180,281

15,023

178,858

14,905

110, 540

9,212

Data cover reports from 27 to 33 member companies for the period 1929 through 1938 and 28 com-1 Compiled by American Washer & Ironer Manufacturers Association. Data cover rej,nies beginning 1939. Manufacturers reporting represent about 98 percent of the total in -i *i iu oo j-uumuui companies iui me penou iv^v uuougn iyoo auu zo cou-i-

iles and the reported figures have been raised to complete coverage. Data

179391—39 3

18 SURVEY OF CURRENT BUSINESS

Table 44.—EXPORTS OF SAWED TIMBER[Thousands of board feet]

October 1939

Month 1913 1914 1915 1916 1917 1918 1919 1930 1921 1922 1923 1924 1925 1926

JanuaryFebruaryMarchAprilMay.June.JulyAugustSeptemberOctoberNovemberDecember

Total

Monthly average.

JanuaryFebruary...MarchAprilMayJuneJulyAugustSeptember..OctoberNovember..December...

Total .

46,98733, 38229,17938, 66950,90045, 38747, 61948,04538,86426, 57017,15715,977

22,90316, 60739, 78262,71830,27444,79133,85114, 86121,10014, 6261,7921,579

10, 2013,82410, 30115, 68422,83217,02023,86215, 84517,17811, 5628,93215, 698

11,99915, 23210, 48122, 81322, 65615,31917,09517, 47522, 97213, 0887,97213, 897

8,31716, 78123, 92815, 52813,4566,5637,8799,24514,3129,64310, 71313,014

6,8596,5985,8113,3177,0854,3154,9025,5008,8785,2685,8864,765

8,5724,222987

8,8569,76919,16517,26729,07925, 38212, 48316,68021, 832

17,19313, 68419,90516,48221, 67312,11619,42313, 2746, 5355,4208,6985,981

6,7939,3598,90111,1489,26710, 63116, 5708,9799,66812, 48117,94011,111

16,11312, 93452, 59645,93330,97931,33124, 43726, 67535, 32723, 64621,84227,110

32, 57630, 27937,42341, 94636,25445,25870, 52363,83857,17246, 78580,03073,249

107, 84376, 33261,04776,18846, 22556,06857, 31953,14443, 88258, 28039,81147, 917

34, 35443,01964, 53356,13840,73446, 87837, 58333, 84440, 75748, 22036, 85871, 601

438, 736

36, 561

304, 884

25,407

172,939

14,412

190,999

15,917

149,379

12,448

69,184

5,765

174, 294

14, 525

160,384

13, 365

132,848

11,071

348, 923

29, 077

615, 333

51,278

724,056

60, 338

554, 519

46, 210

1927

41, 94534, 74356, 56971,92581,45065,01181,99459, 68783,92560,14257, 67366,635

761,699

Monthly average- 63,475 63,081 58,268

1928

81, 63764,00165,19558,72984,41358, 97760,08350,36062, 58155,94459,98755,059

756,966

1929

75,26044, 55665, 33374,90444,02662, 44563,08659,20154,84463,85543,03448, 675

699, 219

1930

48, 59641,63057,10855, 55461,82759,16434,34935, 73329,58323,71021, 50522, 810

491, 569

40, 964

1931

25,07320, 79628,15350, 27864, 46849, 63728. 85234,50724,42527,49623, 58030, 025

407, 290

33, 941

1932

25, 74617,43131,39234,46223, 97317,02814,92422,03520,31731,19524, 75232,154

295,409

24, 617

1933

23, 20323, 09742, 38033,37132,23120,47332, 85325,22622,16420, 78717, 40626, 571

319, 762

26, 647

1934

15,14521,94527, 63629, 61219,4387,30712, 96542, 71739, 80529, 63433,01235,491

314, 707

26, 226

1935 1936 1937 1938

39, 91934, 72323,92524,67721,3409,20317,14629,48243,16819, 22423,64633,039

30, 87230, 07719,61531, 24322,12925,14528,91824,16439,09127,1876,0785,764

5,46613, 81027, 20718,49647,03743, 60046,45043, 75613,32118, 68811,93013,852

11, 53913, 59912,0327,837

27, 65218, 69013,0666,9608,827

10,07710, 20513,289

319, 492

26, 624

290, 283

24,190

303,613

25, 301

153, 773

12,814

43,08252,97052, 96972,65078,80081,35547, 96974,07366,40541,05167,03958,798

737,161

61, 430

1939

10, 63310, 87921, 76616, 58618, 81917,98419, 69820,256

i New series. Data are compiled by the U. S. Department of Commerce, Bureau of Foreign and Domestic Commerce. The regular Survey presentation of total exports oflumber has been expanded to include, in addition to exports of boards, planks, and scantlings regularly shown, the new series on sawed timber exports given here. The totalof these two is the series on exports of total sawmill products as shown on p. 47. Beginning in 1939 box shooks and sawed railroad ties are included in the series on total saw millproducts, but cannot be allocated to either of the separate classes shown on p. 47. In the first 7 months of 1939, box shooks and sawed railroad ties accounted for 4.6 percent*ofexports of total sawmill products. Figuresf or 1922 and 1923 contain hewn timber which was not reported separately for these 2 years. In 1921 hewn timber amounted to 1.9percent of the total of the 2 items, in 1920, 6.1 percent, and in 1919, 4.6 percent.

Table 45.—TOTAL IMPORTS OF SAWMILL PRODUCTS[Thousands of board feet]

Month

JanuaryFebruary .MarchApril .MayJuneJulyAugustSeptemberOctoberNovemberDecember

Total

Monthly average

January. _FebruaryMarch _AprilMayJuneJulyAugust .SeptemberOctober _ -NovemberDecember

Total

Monthly average

1913

53,55149,30744,05365,920

110,06096,54888,58594,92397,70791,865

108,61868,415

969, 552

80, 796

1927

114,831112,473137,608143,516166,24P185, 71E152,462174, 512153,421151,858134,498117,487

1,744, 627

145,38e

1914

43,03139,44746,85258,57589,108

101,74798,969

105,729106,06893,57787,25748,742

919,102

76, 592

1915

1,

1928

107,64188,008

111,237101,579138,844133,817130, 465131,708115,086145.137145,912118, 970

1,468,404

122,367

35,13935, 01246,94359,608

108,196114,08297,934

115, 665114,861113,319115,733103,819

060, 311

88, 359

1916

64,81868, 46371,38998, 208

131,941121, 918126, 632122,777107, 654122,651108, 570

82, 375

1, 227,396

102, 283

1929

100,20395,274

102,59596,211

148,858147, 683145, 574155,974137,935165,201138,952108,326

1,542,786

128, 566

1917

57,8414?, 60354,10380,339

120, 558149,077130,691128,620124,026107, 544124,981

83, 217

1,20

10

1930

117,32893,766

107,158110,501122,20698,881

104,997105,421

80, 52197,05388,06591,393

1, 217, 290

101,441

1918

54, 47946, 50766,752

105,954155,989153,887150,362140,036104,735

70, 55691, 36868, 287

3,600!1.208

0,300 100

1931

50,48749,33877,26859,37976,45356,99670,54463,18664, 73465,23469,08542, 447

745,151

62, 096

,912

,743

1919

49,35844,25842,42939,39574,77]

104,455121,332117,376135,666165,210137,213116,482

1,147,945

95, 662

1932

35,02634,08842,96839,75139,63381,513

8,88119,39515,20724,10527, 70511, 050

379,322

31,610

1920

118,50091,702

118,839107,392125, 538142,470109,828155,284116,812114,64083,00564,274

1, 348,284

112, 357

1933

8,7889,665

10,88417,00028,64334,90250,74642,22848,43540,47241,38324, 545

357,691

29,808

1921

28,07832,22£37,51841,60869,60173,64C76,94485,99184,87€97, 521

129,06179,834

836,89/

69, 74]

1934

20,83318, 62522,43223,29528,00525, 74924,13423,69422,17524,23232,98720, 726

286,887

23,907

1922

62, 56367,21578,56191,205

133,983144,966157,114156,459123,194206,723166,458172,182

2 1,563, 524

130, 294

1935

18,97120,89921, 75123,86029,45241,08767,76644,10648,85549,71447,12624,054

437,641

36,470

1923

125,708114,630142,438196,60C189,38S211, 62E188,40c170,402149,028173,94c165, 68£135,318

2 1,971,032

164,252

1936

31, 37329,40242,31469,36159, 24187,23461,72959,35761, 54755,11849, 55948, 798

655,033

54, 586

1924

106,851149,296138,159130,975155,224135,841148,697132,336145, 573170,129166,932162,421

2 1, 742, 562

145, 214

1937

43,83251, 75052,31554,06451,80663,21074,75861,78865, 52860,16952,85029,343

661,413

55,118

1925

125,130116,997139,298120,714156,950171,535176,195162,472168,296190,365177,086141,342

1,846,380

153,865

1938

32,74734,34446,93936,51927,42336,05636, 62949,12858,02260,97750,23246,884

515,900

42,992

1926

134,294116,454171,021136, 518144,520178,939174,849170,082163,488192,894173,007143,106

1,899,172

158, 264

1939

49,52147,80362, 59158, 29248,94154, 69253,02154,222

1 New series. Data are compiled by the U. S. Department of Commerce. Bureau of Foreign and Domestic Commerce. The new series on imports of total sawmill productscovers imports of fir, hemlock, spruce, pine, larch, and other softwoods; balsa, maple, birch, and beech (both flooring and rough and dressed boards), teak, and other hardwoods;cabinet woods (sawed and planed and in some cases tongued and grooved, including flooring) of Spanish cedar, mahogany, Japanese white oak, lignumvitae, lancewood,ebony, box, granadilla, rosewood, satinwood, and several others of minor importance. The classification of sawmill products covers boards and lumber, and beginning in 1939box shook? and sawed railroad ties. In the first 7 months of 1939, box shooks and sawed railroad ties accounted for 1.2 percent of total imports of sawmill products. Major saw-mill products excluded are laths, shingles, pickets, and palings.

> Includes free cabinet woods amounting to less than one-half of one percent of the annual totals; monthly data are not available.

October 1939 SUEVEY OF CURRENT BUSINESS 19

Monthly Business StatisticsThe data here are a continuation of the statistical series published in the 1938 supplement to the SURVEY OF

CURRENT BUSINESS. That volume contains monthly data for the years 1934 to 1937, inclusive, and monthly aver-ages for earlier years back to 1913 insofar as available; it also provides a description of each series, and referencesto sources of monthly figures prior to 1934. The 1938 supplement may be secured from the Superintendent ofDocuments, Government Printing Office, Washington, D. C , for 40 cents per copy.

A few series have been added or revised since the 1938 Supplement went to press. These are indicated byan asterisk (*) for the new series and by a dagger (f) for the revised series. A brief footnote accompanying eachof these series provides a reference to the source where the descriptive note may be found.

The terms "unadjusted" and "adjusted" used to designate index numbers refer to the adjustment for seasonalvariations. Data subsequent to August will be found in the Weekly Supplement to the SURVEY.

Monthly statistics through December 1937, to-gether with explanatory notes and referencesto the sources of the data may be found in the1938 Supplement to the Survey

1939

August

1938

August Sep-tember October Novem-

berDecem-

ber

1939

Janu-ary

Febru-ary March April May June July

INCOME PAYMENTS tAdjusted index 1929=100Total Mil.ofdol

Salaries and wages:Adjusted index 1929 = 100Total . _. Mil. cfdol

Commodity producing industries _.doDistributive industries do . .Service industries doGovernment . . do__Work relief wages _ do

Direct and other relief . doSocial security benefits and other labor in-

come Mil.ofdolDividends and interest doEntrepreneurial income and net rents and

royalties Mil.ofdolTotal nonagricultural income doAdjusted index of nonagricultural in-

come . 1929=100INDUSTRIAL PRODUCTION

(Federal Reserve)Combined index, unadjusted 1923-25=100..

Manufactures, unadjusted . doDurable goods* do

Automobiles . _. doCement doGlass, plate . _ _ __ doIron and steel do

Nondurable goods* doLeather and products doPetroleum refiningt -- doRubber tires and tubest - doSlaughtering and meat packing do..Textiles doTobacco manufactures do

Minerals, unadjusted doAnthracite _ doBituminous coal - - doIron-ore shipments doLead , . doPetroleum, crude .>_ ._ doSilver.-. _ doZinc. ._ do

Combined Index, adjusted doManufactures, adjusted do

Durable goods*._ _„ doAutomobiles . • . . doCement. . . . . . do..Glass, plate „ ._ doIron and steel do

Nondurable goods* . - - . doLeather and products doPetroleum refiningt doRubber tires and tubest doSlaughtering and meat packing doTextiles do._Tobacco manufactures do

Minerals, adjusted doAnthracite do__Bituminous coal . . . _. do..Iron-ore shipments do.- , .Lead . doPetroleum, crude .._ doSilver do..Zinc. . . do. . . .

85.35,393

83.93,5541,319

87181342113087

144451

1 1574,880

86.6

P 9 9

v 2898

121103

pill

12280

112180

» 53v 7515968

P 132

*>87v 102*104

76121105

v 114

12292

120168

P 7 67871

P 129

93

81.35,162

79.93,3791,179

82377341219280

145440

1 1184,666

82.5

87856326878969

104121203

9077

1031729738627644

1701046988876445678970

1081092039089

1101619538643746

16710574

BUSINESS

81.85,657

80.43,5251,220

83877849719280

139723

1,1905,092

82.8

9189662686

10775

1091192069590

10417710251767848

16397719089694669

10775

1071032069598

1031609750714150

15810275

82.65,886

81.43,6391,259

85679053220280

133775

1 2595,254

83.5

9795796391

15588

1091112099994

10316110663798652

163101789695838480

15590

1061012089995

1001509849725050

16110280

INDEXES

83.15,507

82.43,6341,248

85379953120383

126484

1,1804,967

84.2

10410392

11583

15510011310220810010411616710560863569

1635588

103103949684

15510811010720810094

11216410258784266

1655188

83.46,145

83.03,6721,244

88981452719888

1241,115

1 1465,657

84.7

989885

11764

15389

1081042021121011111451036682

058

1648696

104104929982

15310111412320111286

11717910967780

571698594

83.35,703

82.33,5251,191

84180050518892

128827

1,1315,244

84.4

'999884

10542

147'901111152051101011141571057483

071

1648694

'101100' 8 810569

147'9311012420511087

10916511069750

701718689

83.05,247

82.03,5221,215

82679650318293

133433

1,0664,848

84.4

9998839848

13392

11112620210983

11514710566830

75166108939997839880

133' 8 810912420110983

10916211061790

7316910087

84.15,727

82.13,5751,235

85079750618795

148772

1,1375,256

84.8

10010086

10565

13893

11112520111484

11215610250770

7017194969896809190

13183

11012120211489

11016411061770

691738690

83.05,654

81.03,5501,212

84979951018090

133760

1,1215,192

83.8

959684

1067991

'8710611220810481

1001518883260

701741029492927687818379

1061152091049097

1649580310

7117410191

83.45,432

81.43,5981,235

86280652017587

139471

1,1374,943

84. 3

94947888889379

107'105

21110292

1041729773408280

177699092917173758973

10811321110294

1041709873465582

1757189

84.15,918

82.83,6651,281

87481553016585

145920

1 1035,463

85.4

9897859198

11289

10810421511286

1051861055163

13271

173105879897828179

12489

11010821511287

11117010459716770

17010790

83.65 693

82.83,5141,271

86881042314285

136849

1 1095,220

85.4

' 9 7' 9 5' 8 3

66100' 78

9310511221111184

103.171

' 1 0 744

' 6815065

' 17859

' 8 4' 1 0 1'100

' 8 8' 8 7

8287

' 1 0 0' 110'114

21211189

111158

'10653

' 757468

' 1747091

r Revised. * Preliminary.•New series. For indexes of durable and nondurable goods production beginning 1919, see table 8, p. 14 of the March 1939 Survey.tRevised series. Petroleum refining, revised beginning 1934, and rubber tires and tubes, beginning 1936; see table 36, p. 17 of the August 1939 Survey. For revised income

payments beginning 1929, see table 41, pp. 15 and 16 of this issue.



1939

August

1938


berDecem-

ber

1939

Janu-ary


BUSINESS INDEXES—Continued

AGRICULTURAL MARKETINGSQuantities marketed:

Combined index 1923-25=100.-Animal products. - » do

Dairy products - doLivestock .- doPoultry and eggs doWool * - . do

Crops do_.__Cotton - doFruits -doGrains ._ doVegetables do

Cash income from farm marketings:Crops and livestock, combined index:

Unadjusted 1924-29=100—Adjusted —do....

Crops doLivestock and products do

Dairy products _ doMeat animals _. doChickens and eggs do

WORLD STOCKSCombined index (quantity) t 1923-25=100—

Cotton, adjusted . - doRubber adjusted f do _ .Silk adjusted doSugar, adjusted doTea adjusted -doTin, unadjusted doWheat adjusted . - d o

8484

1227079

266846980

11641

71.071.066.575.581.574.070.0

241

102

9289

1537273

317966180

15546

72.572.063.081.084.582.075.5

222281308168221118104146

11783

137756876

15223590

11087

85.072.561.084.586.587.075.5

207241300172195119105163

13189

1148576

13917426711312886

91.567.555.580.086.077.577.5

201217294179199126105169

99898778

116160108154798567

78.069.555.584.085.583.583.5

192202284172188129102169

76819167

116687178856261

72.568.055.082.089.578.081.0

189201255164192127105167

6577977380415337825177

68.567.555.580.088.579.067.0

186202268144184132111162

5664945670504634783878

51 060.044.576.585.577 556.5

183204258120187126126151

6878

10465

1044557359350

107

57.564.049.579.580.084 071.5

181201248111191118127151

6581

10362

123775022955089

55.064.551.578.076.075 070.0

182205241101187110129162

8199

13572

14519363239280

109

60 065.049.082.076.583 580.0

182211239

84184106119166

8293

14562

114387

712681

101112

59.060.045.075.577.076.073.0

190223227

88185105115186

9488

1336691

3861014678

18449

63.062.551.074.577.073. S75. C

245

98

115

COMMODITY PRICES

COST OF LIVING

(National Industrial Conference Board)

Combined index ...1923=100 _Clothing doFood - doFuel and light - -- -.doHousing doSundries do

PRICES RECEIVED BY FARMERS §

(U. S. Department of Agriculture)

Combined index 1909-14=100..Chickens and eggs doCotton and cottonseed doDairy products - - doFruits - - -doGrains -- -doMeat animals doTruck crops doMiscellaneous - do

RETAIL PRICES

U. S. Department of Labor indexes:Coal:

Anthracite 1923-25 «100Bituminous do

Food - -do. _.Fairchild's index:

Combined index Dec. 31,1930=100-.Apparel:

Infants' - doMen's -doW omen's do

Home furnishings __ doPiece goods - -do

WHOLESALE PRICES

U. S. Department of Labor indexes:Combined index (813 quotations)-1926=100..

Economic classes:Finished products doRaw materials doSemimanufactures do

Farm products _ -. -doGrains . . -doLivestock and poultry do

Foods doDairy products doFruits and vegetables doMeats do_ ..

Commodities other than farm products andfoods - 1926=100

Building materials . doBrickand tile doCementf doLumber. ..do

84.571.976.784.086.396.9

889071

1007064

101101100

75.1

89.5

96.088.689.090.784.1

75.0

79.166.574.561.051.566.067.267.958.573.7

80.189.690.591.391.8

85.973.480.184.486.696.9

9210569

1027862

1159299

78.4

89.0

96.689.089.491.384.5

78.1

81.871.474.467.353.480.673.068.857.386.0

81.489.490.691.090.2

85.973.380.485.086.696.8

9511869

1047563

11710798

78.488.078.7

89.0

96.588.789.491.184.5

78.3

81.872.074.768.153.081.074.571.155.587.3

81.389.590.990.790.4

85.873.279.885.686.696.8

9512472

1077060

111107107

78.1

89.0

96.488.789.490.984.5

77.6

81.170.975.966.850.876.273.571.657.583.3

81.189.891.190.790.3

85.673.279.585.986.496.8

9413173

1097160

11110295

77.8

88.9

96.488.789.290.484.4

77.5

80.571.576.267.850.975.274.172.563.081.9

80.689.291.590.690.2

85.873.080.386.086.296.8

9612770

1127363

109108108

81.889.378.6

88.9

96.388.789.090.484.3

77.0

80.270.975.267.654.474.473.173.960.479.9

80.389.491.590.690.9

85.472.779.285.986.296.8

949771

1097666

11296

109

77.5

89.1

96.388.789.090.584.3

76.9

80.070.974.967.256.378.071.571.860.981.6

80.289.592.490.691.7

85.172.478.485.986.196.7

929170

1077866

11610892

76.8

89.1

96 288.588 990.584.3

76.9

80.270.974.467.254.779.271.571.662.183.2

80.289.692.491.292.6

84.972.378.085.886.196.7

918871

1008166

11611483

80.889.476.4

89.1

96.288.488.890.584.3

76.7

80.270.174.665.854.578.270.264.863.282.5

80.489.892.591.592.1

85.072.278.285.286.296.7

898770958267

11410286

76.6

89.1

96.088.488.890.584.1

76.2

80.168.574 463.755.275 568.658.164.381.0

80.589.693.091.591.5

84 872.178.184 086.296.6

908572928572

11211083

76.5

89.1

95 988.488 890.584.1

76.2

79 968.974 363 759 673 268 258.663 878.6

80 689.591.791 591.2

84.772.077.983.486.096.6

898373949373

10710581

75.185.276.3

89.1

95 988.488 990.684.0

75.6

79 667.774 162 458.269 467 660.062 575.7

80 289 591 191 590.7

84.971.978.183.886.396.9

898973968066

10710189

76.5

89.3

95 988.488 990.684.1

75.4

79 267.874 462 652 369 767 E64. 662 C75.2

80 189 *90 t91 I91.?

f Revised series. Combined index of world stocks revised beginning January 1920; see table 5, p. 17 of the January 1939 Survey. For subsequent 1938 revisions in thecombined index and in the rubber index, see p. 20 of the June 1939 issue. Cement price index revised beginning 1926. and data not shown on p. 20 of the May 1939 Survey willappear in a subsequent issue; the building materials group and the combined index of all commodities have not been revised, as the effect of the change in cement prices onthese indexes is small.

§ Data for Sept. 15, 1939: Total 98, chickens and eggs 102, cotton and cottonseed 76, dairy products 107, fruits 73, grains 83, meat animals 117, truck crops 114, miscel-laneous 98.



1939 1938

August August t es X r October N o ™ Decem-

ber

1939

Janu- Febru-ary March April May June July

COMMODITY PRICES—Continued

WHOLESALE PRICES-Continued

U. S. Department of Labor indexes—Contd.Combined index—Contd.

Commodities other than farm productsand foods—Continued.

Chemicals and drugs 1926=100Chemicals doDrugs and Pharmaceuticals doFertilizer materials do. .

Fuel and lighting materials doElectricity... ..do _Gas._ doPetroleum products do

Hides and leather products . doShoes doHides and skins _. do . . .Leather do

House-furnishing goods doFurniture _ doFurnishings do

Metals and metal products __do . .Iron and steeL. .doMetals nonferrous doPlumbing and heating equipment

1926=100--Textile products do

Clothing doCotton goods do__Hosiery and underwear doSilk and rayon doWoolen and worsted goods. do

Miscellaneous doAutomobile tires and tubes doPaper and pulp do

World prices, foodstuffs and raw materials:Combined indexf- 1923-25=100..

Cotton.. . . . .do. .Rubber doSilk _ . doBugarf - doTea doTin doWheat _ . . do

Wholesale prices, actual. (See under respectivecommodities.)

PURCHASING POWER OF THEDOLLAR

W holesale pr ices 1923-25—100Retail food prices _ doPrices received by farmers. doCost of living . do

74.677.571.767.272.6

51.792.7

100.877.284.085.681.190.093.295.174.6

79.367.881.565.561.539.575.573.360.580.0

34.~6"39.036.932.7

97 032.4

134.2133.2166.9120.3

77.781.474.867.376.881.688.156.791.9

100.875.682.186.482.290.595.497.372.9

79.265.981.764.459.829.276.372.457.482.4

39.130.937.724.328.176.386.153.9

128.9127.6159.7118.3

77.381.074.867.276.681.888.756.492.0

100.875.782.486.282.190.295.597.373.5

78.565.881.664.159.929.576.372.457.481.9

38.329.837.825.228.978.486.350.2

128.6127.1154.8118.3

77.180.574.967.575.481.887.153.893.4

100.382.184.685.782.189.395.396.976.2

78.566.281.664.659.930.976.372.657.481.7

37.831.639.625.926.872.990.046.7

129.8128.0154.8118.5

76.680.273.667.773.781.884.651.594.6

100.485.586.985.881.989.794.996.977.6

78.766.281.665.159.930.376.473.058.881.5

37.533.538.025.?28.866.092.042.3

129.9128.5156.5118.8

76.780.073.568.673.282.781.650.993.1

100.678.885.986.081.690.394.696.876.8

78.765.881.664.659.330.874.873.158.880.9

36.532.037.625.330.467.291.938.1

130.8127.2153.1118.5

76.779.773.070.272.882.982.250.493.1

101.278.485.085.480.590.194.496.476.7

78.765.981.564.359.132.174.573.258.881.0

37.232.736.926.531.366.792.339.3

130.9129.0156.5119.0

76.379.472.769.373.082.881.850.791.9

101.172.884.285.280.589.894.396.176.5

79.266.181.563.758.834.774.773.559.781.1

37.833.137.329.530.967.090.841.1

130.9130.2159.7119.5

76.579.972.269.773.180.382.250.991.8

101.273.882.785.280.589.794.396.176.6

79.366.681.563.759.936.175.174.160.581.3

37.333.138.131.031.966.691 936.8

131.3130 9161.6119.8

76.079.371.969.673.4

84.151 990.9

101 268 382.885.481.089 694.096.174 7

79.366.981 663.460.237.875.274 460.581.1

38.432.437 233 435 269 693 938 5

132.1130 5165.3119.6

75.979.471.969.773.9

86.052.591.6

101.372.183.185.581.089.893.595.773.1

79.367.581.763.360.240.775.474.260.580.4

41.335.337.637.640 568.995 740.4

132.1130 7163.4119.9

75.779.271.969.573.0

88.952.592.3

101.375.383.885.681.090.093.295.272.9

79.367.381.764.160.139.175.673.860.579.9

41.036.438.335.437 468.897 240 8

133.2131 1165.3120.0

75.078.271.867.572.8

89.052.292.5

100.876.984.185.681.090.093.295.173.3

79. 367.681.265.160.240.275.473.460.579.9

39.635.738 737. C37 767 596 534 3

133.5130 7165.3119.8

CONSTRUCTION AND REAL ESTATE

CONTRACT AWARDS, PERMITS, ANDDWELLING UNITS PROVIDED

Vajue of contracts awarded (F. R. indexes):Total, unadjusted .1923-25=100..

Residential, unadjusted doTotal, adjusted do

Residential, adjusted doF. W. Dodge Corporation (37 States) :t

TotaJ projects,. number..Totajl valuation.._ thous. of doL.

Public ownership doPrivate ownership do

Nonresidentiail buildings:Projects number..Floor area;. ___thous. of sq.ft..Valuation thous. of doL.

Residential buildings, ajl types:Projects number..Floor area ..thous. of sq. ft..Vajuation thous. of dol..

Public utilities:Projects number..Valuation.. _ .thous. of dol._

Public works:Projects number..Valuation thous. of dol_.

Building permits issued in 1,790 cities:|Total buildings number..Total estimated cost .thous. of dol..

New residential;Buildings number..Estimated cost thous. of dol..

New nonresidential:Buildings number..Estimated cost thous. of doL.

Additions, alterations, and repairs:Buildings numberEstimated cost thous. of doL.

f Revised.

23, 270312, 328158, 459153,869

3,45312, 26869,882

18,00331,165

127,163

32820,113

1,48695,170

73,776199, 794

19, 755116,815

13,12549, 703

40,89633, 277

53

18, 770313,141171,099142,042

3,41614,74487, 316

13,48823, 57499, 732

27437, 980

1,59288,113

65,492159, 455

16,10688,117

11,69943,313

37,68728,025

79567856

16, 926300,900160,125140, 775

3,36315,59991,997

11, 60021,78199, 574

28826,167

1.67583; 162

64,203158,492

15,05885,079

12,00347,180

37,14226, 233

78568257

19, 664357, 698203, 359154, 339

3, 59423, 223

131,020

13,90727,177

112,673

33521,176

1,82892, 829

69, 615164,244

15, 76178, 394

13,01156, 310

40,84329, 540

85549656

17, 772301, 679178, 948122, 731

3,58521, 515

116,008

12, 51523,40595, 253

33019, 726

1,34270, 692

53, 615143, 480

14,12174,053

10,45951, 660

29,03522, 767

77489657

16,027389,439279,403110,036

3,49525, 503

139, 513

10,41322, 72091,539

50044, 312

1,619114,075

38,247147, 791

11,05962, 767

6,96163,115

20,22721, 909

70458655

13, 281251, 673147, 916103, 757

2,45614,35184, 999

9,75019, 98180,163

25829, 509

81757,002

38, 902156,704

11,65270,768

6,44961,399

20,80124, 537

63517358

13,015220,197110, 975109, 220

2,34812, 78369, 544

9,66919,17679,020

18, 518

72553,115

37, 721149, 572

11,47685, 719

5,69037, 730

20, 55526,123

69586955

20, 233300,6^1127, 776172,885

3,59217, 94497, 786

15,43830, 725

125,225

25919, 640

94458,010

62, 303177,903

18,63594, 374

10,49652,886

33,17230,643

76686758

22,2,82330,030159, 656170, 374

3,40016, 56394, 656

17,38728,382

114,405

32335, 336

1,17285, 633

62, 775165, 978

17,69787,441

11, 52044,830

36, 55833, 706

75656355

23,244308,487134,757173,730

3,45712,70076,749

18,26232,602

133,818

25121,779

1,27476,141

77,913204,437

20,961119,600

13,71151,162

43, 24133,674

73646358

21, 701288, 316127, 595160,721

4,05215, 41892,845

15,94227,502

111,896

2349,968

1,47373,607

71,040202, 429

19,22499, 775

12,08570,974

39,73131,680

73«"63

67' 6 2

21,806299,883136, 543163,340

3,82317,69188,501

16, 28727,181

109, 330

25423,092

1,44278,960

64,537185, 019

17,88496,114

11,21459,794

35, 43929, 111

v Preliminary.

cost of permits issued was increased by only 0.2 percent in 1937. Data beginning January 1936 will appear in a subsequent issue of the Survey.



1939

August

1938


berDecem-

ber

1939

Janu-ary


CONSTRUCTION AND REAL ESTATE—Continued

CONTRACT AWARDS, PERMITS, ANDDWELLING UNITS PROVIDED-Con.

Estimated number of new dwelling units pro-vided in all urban areas:f

Total number_-1-family dwellings _._do2-family dwellings doMultlfamily dwellings _ do

Engineering construction:Contract awards (E. N. R.)1 thous. of dol._

H1GHWAY CONSTRUCTION

Concrete pavement contract awards:Total thous. sq. yd..

Roads -__ -doStreets and alleysc?1 do

Status of highway and grade crossing projectsadministered by the U. S. Bureau of PublicRoads:

Highways:Approved for construction:

Mileage... no. of miles..Federal funds thous. of dol._

Under construction:Mileage no. of miles._Federal funds thous. of dol_.Estimated cost do

Grade crossings:Approved for construction:

Federal funds doEstimated cost do

Under construction:Federal funds doEstimated cost. do

CONSTRUCTION COST INDEXES

Aberthaw (industrial building) 1914=100..American Appraisal Co.:

Average, 30 cities 1913=100Atlanta do.. .New York do.. .San Francisco do.. .St. Louis. do...

Associated General Contractors (all types)1913=100..

E. H. Boeckh and Associates, Inc.:Apartments, hotels, and office buildings:

Brick and concrete:Atlanta U. 8. av., 1926-29=100.New York doSan Francisco d o . . .St. Louis do___

Commercial and factory buildings:Brick and concrete:

Atlanta doNew York do.._San Francisco doSt. Louis _ -do.._

Brick and steel:Atlanta d o . . .New York do._.San Francisco doSt Louis - .- d o . . .

Residences:Brick-

Atlanta.. d o . . .New York d o . . .San Francisco * d o . . .St. Louis d o . . .

Frame:Atlanta - d o . . .New York _ do__.San Francisco do_._St. Louis do_._

Engineering News Record (all types)§1913=100..

Federal Home Loan Bank Board:*Standard 6-room frame house:

Combined index ..1936=100.Materials . .do . . .Labor do.. .

311,222

6,1613,9072,254

3,13024,254

8,554123,044242,924

10, 65411,437

38, 57940, 505

183168195169184

187

94.8130.8116.8118.4

97.2133.7121.2119.6

93.2130.2114.4118.3

86.1123. 5104.7109.3

82.8122.098.7105.9

234.9

105.2102.3111.2

62, 269

1,723,357

25,81817,2621,4167,140

231,771

7,2474,5482,699

4,10948,958

9,521135,158260,494

11,41612,136

40,39941, 298

181167191164184

188

96.1129.8115.9118.5

98.2132.7120.9119.8

96.7128.9115.6119.8

85.6122.3105.4108.8

82.3120.097.5

105.1

232.4

106.4103.4112.3

67,878

1,082,454

25,68416,1151,1688,401

289,725

5,0643,2131,851

3,46343,373

9,418133,337256, 592

12, 56113,370

37, 67638,567

189

181167191164184

188

96.1129.9116.0118.5

98.2132.7121.0119.8

96.7129.0116.2119.8

85.6122.8105.4108.8

82.3120.597.5

105.1

232.7

106.4103.4112.4

68,344

1,131,404

23,64816,8571,2905,501

235,898

4,6712,8711,800

3,33738,572

8.872130, 841252,852

12,11212,877

35, 45136,387

182167192166184

188

96.2129.7115.9118.7

98.2132.4120.9119.8

96.8128.9115.6120.1

86.0122.6105.4109.9

82.8120.497.5

106.5

234.3

106.2103.3112.1

64,627

1,189,823

22,06414, 7811,0426,241

217,023

4,5832,0012,582

3,12236, 231

7,968120, 453234, 256

13,93015,159

36,808

182169192166184

96.5130.1115.9119.1

98.4132.8120.9120.1

96.5129.3115.6120,5

87.4122.4105.4111.0

121.297.5

108.1

234.4

106.1103.2112.1

58,250

1,244,141

18,35511, 517

7966,042

339,250

4,2702,7651,505

3,39037,677

7,514113, 828221, 530

12, 79413, 867

35,02336,026

189

182169192166184

188

96.1130.1116.0119.1

98.0132.8121.0120.1

96.2129.3116.2120.5

86.3122.4105.4111.0

83.1121.297.5

108.1

234.9

106.1103.1112.1

51,058

1,300,446

22,09713, 2401,2077,650

311, 693

3,1902,0851,105

3,30636,294

7,540113,466218,965

13, 57214, 587

36, 44037,932

183169192167185

188

95.3130.0117.6119.1

97.4132.6122.3120.1

96.0129.4117.7120.4

85.0122.5106.6110.7

81.6121.398.7

107.7

234.7

106.0103.0111.9

42,218

1,355,829

26,14712,2781,212

12, 657

203,843

1,245686560

3,17735,968

7,721114,185221,046

13, 61314,285

37,93039,777

183169192167185

188

95.2130.1117.6119.1

97.5132.7122.3120.1

96.2129.2117.7120.4

85.7122.2106.6110.7

82.5121.198.7

107.7

234.3

106.0103.0112.2

41,224

1,400,212

28,52619, 6251,3857,516

285, 566

2,143860

1,283

3,08134,969

7,855115,212222, 630

12,90613, 374

38, 81740,747

188

183169192167185

188

95.3130.0117.6119.1

97.4132.7122.3120.1

96.0129.4117.7120.6

85.0122.2106.6110.3

81.6121.098.7

107.2

234.4

106.1103.0112.4

63,486

1,450,575

27,01119, 4051,4186,188

240, 735

2,0811,304

3,08135, 600

8.301120, 505232, 772

12,10712, 529

40, 65442, 654

182168193169185

188

95.3130.0117.6119.1

97.4132.7122.3120.1

96.0129.5117.7120.6

85.0122.5106.6110.3

81.6121.498.7

107.2

234.9

105.9102.9111.9

64,895

1,496,794

35,79625,7601,9058,131

252,992

4,4582,1792,280

3,61540,769

8,463122, 758238,637

10,22410, 583

43, 77145,723

182168193169185

188

95.3130.6117.0118.6

97.6133.4121.4119.7

95.6129.8115.3118.5

86.1123.1104.7110.3

82.8121.998.7

107.2

234.7

105.6102.7111.5

73, 701

1,546,237

29, 99721, 7681,4176,812

262, 395

6,8554,2322,623

3,86741,024

8,570123, 554240,218

11,31212,191

42, 29944, 094

187

182168193169185

187

95.4130.6116.9118.5

97.6133.4121.3119.7

95.7129.9114.7118.5

86.8123.1104.7110.0

83.7121.998.7

106.8

235.0

105.4102.5111.3

82, 322

1,607,147

181,-

5,7133,8201,893

3,70137,802

8,522124,975244,860

11,50412,414

40, 33642,052

182168193169185

188

94.8130.9116.8118.3

97.2133.8121.2119.6

93.3130.2114.4118.2

86.5123.6104.7108.9

83.3122.198.7

105.4

234.9

105.3102.4111.3

REAL ESTATE

Federal Housing Administration, home mort-gage insurance:

Gross mortgages accepted for insurancethous. ofdol..

Premium-paying mortgages (cumulative)thous. of dol—

' Revised.§lndex as of September 1, 1939, is 235.0.*New series. For data baginning 1936, see table 30, p. 17 of the June 1939 Survey.fRevised series. Data on number of dwelling units provided revised beginning January 1937; figures not shown in the footnote on p . 22 of the September 1939 Survey

will appear in a subsequent issue.cFData for streets and alleys, formerly shown separately, are available in total only subsequent to December 1938.JData for September and December 1938 and March, June, and September 1939 are for 5 weeks: other months, 4 weeks.

52, 603

1,658,306

October 1939 SUEVEY OF CUERENT BUSINESS 23


1939

August

1938


berDecem-

ber

1939

Janu-ary


CONSTRUCTION AND REAL ESTATE—Continued

REAL ESTATE—Continued

Estimated new mortgage loans by all savingsand loan associations:!

Total loans _ .thous. of dol._Loans classified according to purpose:

Mortgage loans on homes:Construction „ doHome purchase doRefinancing. doReconditioning do

Loans for all other purposes doLoans classified according to type of associa-

tion:Federal thous. of dol_.State members _ _ doNonmembers do

Loans outstanding of agencies under the FederalHome Loan Bank Board:

Federal Savings and Loan Associations, esti-mated total mortgages outstanding

thous. of dol._Federal Home Loan Banks, outstanding ad-

vances to member institutionsthous. of dol._

Home Owners' Loan Corporation, balance ofloans outstanding thous. of dol_.

Foreclosures:Nonfarm real estate 1926=100—Metropolitan communities _.do

Fire losses thous. of doL.

95,038

29,86332,28217,0055,9099,979

40,64537,34017,053

1,186,784

159,470

2,059,792

153146

74, 709

22, 57523,83314, 7015,5288,072

26,85829,50618, 345

976,074

189,415

2,234,899

169161

20,821

71,647

21, 01825, 69812,4164,7917,724

25, 65029, 25516, 742

994, 218

189, 548

2,221,417

169157

23,373

72,931

22, 09924,67712,9135,7277,515

26, 53430,54615,851

1,011,087

189,217

2,203,896

153142

24, 798

64,070

18,62721, 20512,1824,8217,235

24, 22026,11513, 735

1,020,873

189,685

2,186,170

165155

28,659

63,934

19,15220,82612, 8054,0257,126

25, 01926,50412,411

1,034,162

198,840

2,168,920

159151

32, 758

55, 567

16,09917, 50311,749

6,827

20,89423, 07111, 602

1,040,770

178,852

2,149,038

154145

27, 615

58,309

16,02719,11812, 5513,5937,020

22, 29824,19111,820

1,051,109

170,614

2,134,261

154138

29, 304

73, 378

21, 25424, 70514,8714,2118,337

29,81130,12413, 443

1,067,887

161,614

2,117,598

173157

30,682

83,425

23, 72729,90315, 3844,9749,437

33,40032, 56217,463

1,089,879

157,176

2,105,824

164141

27, 062

89,123

26,64631,28915,6876,0699,432

35,42617,339

1,117,228

157,911

2,091,324

186165

27,032

94,154

29,91932, 22817,1235,8029,082

39,09436,46518,595

1,136,289

168,962

2,080,512

168161

24,191

85,172

26,86529,63815, 3535,1338,183

34,05534,14616,971

1,157,536

161,537

2,067,844

'159152

22,468

DOMESTIC TRADE

ADVERTISING

Printers' Ink indexes (with adjustment for sea-sonal variations):

Combined index 1928-32=100..Farm papers doMagazines doNewspapers _ d o —Outdoor *_doRadio do_._.

Radio advertising:Cost of facilities, total thous. of doL.

Automobiles and accessories doClothing doElectric household equipment d o —Financial d o —Foods, food beverages, confections—do—House furnishings, etc. d o —Soap, cleansers, etc doOffice furnishings, supplies do . . . .Smoking materials __.doToilet goods, medical supplies. - d o —All other do. . . .

Magazine advertising:Cost, total do_...

Automobiles and accessories __do—Clothing __do___.Electric household equipment doFinancial d o —Foods, food beverages, confections doHouse furnishings, etc doSoap, cleansers, etc doOffice furnishings, supplies do —Smoking materials doToilet goods, medical supplies __.doAllother do.__.

Lineage, total thous. of lines..Newspaper advertising:

Lineage, total (52cities)__ do. . . .Classified — do. . . .Display, total. do

Automotive- doFinancial doGeneral _ _ d o —Retail do . . . .

GOODS IN WAREHOUSES

Space occupied, merchandise In public ware-houses percent of total.

NEW INCORPORATIONS

Business incorporations (4 States) number..

POSTAL BUSINESSAir mail:

Pound miles performed millionsMoney orders:

Domestic, issued (50 cities):Number thousands..Value thous. of doL.

84.870.178.579.176.6

355.6

5,855520580

1091,657

23818

01,048*1,494

128

8,3471,033

40558

2451,695

215370123431

1,5582,2531,784

90.52621,11569,4103,5123,349

12.52752,022

3,90637,098

80.379.374.575.277.0

274.7

4,530352370

271,380

0624

0672

1,242195

7,380888341

19266

1,353130275116705

1,3441,9431,472

86,10220, 80865,2932,6231,201

12,17549, 295

68.4

1,818

1,273

3,84237,238

82.158.873.578.976.9

260.0

4,781447

300

211,543

(\u

6110

6551,308

166

9,846769822136341

1,516599355228734

1,6422,7032,112

103,86921,37682,4932,3661,209

15,88863,031

69.3

1, 614

1,235

3,77536,651

78.464.773.673.877.7

242.3

6,509626

180

192,103

AQ436260853

1,851365

13, 6681,6301,022

342444

2,073862398223889

2,2613, 5242,318

113, 55822, 41191,1474,9321,732

18,41166,073

69.9

1,723

1,299

4,17039, 485

65.782.079.965.9

257.6

6,713600180

262,157

39674

0861

1,990349

13,4122,142

689312426

2,143679363225829

2,2103,3942,251

113, 45720,23393, 3146,6081,449

18,74966, 509

70.9

1,793

1,252

4,06737,996

88.070.378.886.071.0

261.7

6,754626

100

212,301

39653

0853

1,977273

11, 5291,295

531470299

1,931509234266755

1,8153,4241,658

118,09620,37297, 723

3,5811,574

14.02878,540

69.5

1,943

1,431

4,65442, 202

76.457.672.671.572.2

273.6

7,023647250

412,318

49714

0836

2,045348

8,0231,186

27267

3201,457

194211122654

1,2662,2741,929

87,41819, 55667, 8612,4462,301

12,77150,343

70.8

2,210

1,244

4,23439, 227

79.559.978.474.273.8

265.6

6,567617330

532,194

39691

0796

1,859285

11, 5361,475

495195376

2,099377500148591

2,1833,0962,294

86,65118,31868, 3333,4581,403

14,02449,448

70.4

1,821

1,221

4,14036,900

84.456.480.479.882.0

262.7

7,404747500

642,501

38818

0885

2,020281

14, 2432,153

829395431

2,255636421220748

2,5373,6172,591

111,81522.14789, 6694,7681,695

17,41465,792

70.4

2,226

1,447

4,66241,891

82.266,280.676.089.0

253.3

6,678657250

542,241

39746

0870

1,781264

16, 8182,9971,020

808508

2,1801,025

468203684

2,5084,4192,715

111, 16022, 82488,3356,0552,105

17,65562,520

70.2

1,874

1,356

4,17138,119

84.469. u80.378.090.5

290.8

7,034745660

742,277

65857

0921

1,844186

15,7152,854

921757435

2,0131,035

471233692

2,2494,0562,356

112,37722,69289,6856,0751,615

18,53863,456

70.4

2,190

1,435

4,24839,229

85.565.082.079.876.6

329.7

6,471640370

1292,101

18792

0887

1,718148

13, 2792,616

715603486

1,893759454100636

2,1873,2311,796

105,08621, 78583,3015,3451,663

17,40858,886

'70.7

1,712

1,427

4,17038,165

81.761.880.074.089.8

337.7

r 5, 813496320

97' 1, 669

23771

01,0001,583

141

10,1311, 635

i 246170337

2,07226631164

6221,9012,5071,625

85,40720,57064, 8383,4962,120

13,99945, 222

70.0

1,724

3,90736,858

«• Revised.tReviscd series. For revised data on estimated new mortgage loans by all savings and loan associations, 1936-37, see table 12, p. 16, of the March 1939 Survey.



1939

August

1938


berDecem-

ber

1939

Janu-ary


DOMESTIC TRADE—Continued

POSTAL BUSINESS—Continued

Money orders—Continued.Domestic, paid (50 cities):

Number... ..thousands..Value _ thous. of dol._

Foreign, issued—value _ doReceipts, postal:

50 selected cities do50 industrial cities do

RETAIL TRADE*

Automobiles:Value of new passenger automobile sales:

Unadjusted 1929-31=100..Adjusted .do

Chain-store sales:Chain-Store Age Index:

Combined index (20 chains)av. same month 1929-31=100..

Apparel chains doGrocery chain-store sales:

Unadjusted.. 1929-31=100..Adjusted do

Variety-store sales:Combined sales of 7 chains:

Unadjusted doAdjusted do

H. L. Green Co., Inc.:Sales thous. of dol..Stores operated number..

S. S. Kresge Co.:Sales thous. of dol_.Stores operated number..

S. H. Kress & Co.:Sales thous. of dol..Stores operated number. _

McCrory Stores Corp.:Sales thous. of dol..Stores operated. number..

G. C. Murphy Co.:Sales. thous. of dol..Stores operated _. number..

F. W. Woolworth Co.:Sales . . . thous. of dol..Stores operated number..

Restaurant chains (3 chains):Sales .thous. of dol_.Stores operated.. number.

Other chains:W. T. Grant & Co.:

Sales thous. of dol_.Stores operated .number. _

J. C. Penney Co.:Sales thous. of dol._Stores operated number..

Department stores:Collections:

Installment accountspercent of accounts receivable

Open accounts^. . . . . . doSales, total U. S., unadjusted...1923-25=100-.

Atlanta do.. .Boston do. . .Chicago do.. .Cleveland ._ __ do. . .Dallas do. . .Kansas City 1925=100.Minneapolis ..1929-31=100.New York .1923-25=100Philadelphia. do.Richmond _do.St. Louis do.San Franciscof . . . d o .

Sales, total U. S.t adjusted do.Atlanta do.Chicaeo do.Cleveland do.Dallas do.Minneapolis _. 1929-31 =100..New York 1923-25=100..Philadelphia do . . .St. Louis . do . . .San Franciscof do . . .

Installment sales. New England dept. storespercent of total sales.

Stocks, total U. 8., end of month:Unadjusted 1923-25=100. _Adjusted do^

Mail-order and store sales:Total sales, 2 companies thous. of dol__

Montgomery Ward & Co do.Sears. Roebuck & Co do.

13,130

28, 2333,540

62.974 0

113.0124.0

99.0103.1

101.2

2,446133

10, 578683

6,490240

3,136200

3,470201

24,1232,014

0)0)

7,210494

20, 6931,548

11455777383798967

» 5086709489

1409587

10710290

P 6 794

15.5

65

87, 25738,99848, 259

12, 54398,006

2,097

26, 7153,446

49.254.5

106.0116.0

92.2

85.296.3

' 2, 316133

10,179682

6,336238

2,960200

3,087201

22, 5662,011

3,193338

'6,837484

19,0671,533

15.942.46510055726583748164

'4781639283128877810893

'85'638397

14.7

6567

72, 78332, 84939, 934

12,84699,4702,606

29,5173,472

37.160.0

109.4122.0

93.094.9

94.198.5

2,513132

11,125685

6,179238

2,955200

3,308201

23, 4912,013

3, 269340

7,653484

22, 3811,537

15.842.0

9112073

117881079467110938986127938610598906887

11.5

7067

87, 72238, 55649,167

13,989107,933

1,985

30,8503,728

55.185.0

108.0120.0

94.994.4

98.296.7

2,833132

12, 353685

6,827238

3,294200

3,811201

26, 7742,017

3,460337

8,970487

26, 8201,538

17.046.6

92126869187

11392

1099875

127929784

1068282

1009285658193

11.1

7467

100, 01246, 66753, 345

14,028106,097

2,280

31,4263,568

99.1100.0

109.5121.2

96.796.7

102.2100.2

2,819133

11,972686

6,613238

3,186200

3,594201

25, 2952,018

3,275336

8,635489

27,1961,539

17.047.1

99126869693

1188996

10682

11895

10889

1118888

10596896882

103

10.3

7867

93,51042, 29551,215

15, 793113, 841

7,717

42,4705,154

96.192.5

112.9127.0

101.198.1

193.6104.9

5,952133

24,114687

14, 429238

7,003200

7,223201

50, 3792,017

0)0)

17, 996491

38,9281,539

17.246.4

15620313815715218215114716412720914317089

1199493

10597927087

100

7.1

6266

125, 70657, 08568, 622

12,93994,1762,142

28,5373,667

70.891.0

107.5118.0

93.596.4

73.698.7

1,998133

8,801680

5,055238

2,535202

2,686201

19,6532,014

0)(0

5,531489

16, 5231,539

16.447.1

6991646967876775684977698188

1158688

1149186688799

11.6

6067

58, 32024, 76933, 551

12, 37188, 7342,027

27,7103,493

71.296.0

108.8112.7

98.798.2

79.795.5

1,959132

9,058681

5,163238

2,738202

2,752201

20,6862,011

0)C1)

5,748489

14,6131,540

16.243.9

69101

546771896463715275688387

1158487

1058686687999

11.8

6568

59, 86524, 96434,901

15,307109,980

3,170

33,4783,979

106.788.0

109.8130.0

100.599.5

85.098.8

2,442133

10, 606683

5,969238

3,196202

3,205201

23,1042,012

0)0)

7,164489

18, 7361,542

18.646.6

821166892829987978065

105828988

1259892

1059691708899

10.2

6968

85, 49735, 73049, 768

13,16495, 8992,079

29,8303,618

106.379.5

110.0117.6

102.099.0

97.697.1

2,869133

11,940683

6,315239

3,648202

3,848201

25,9192,008

0)0)

8,376489

21, 2811,544

17.245.3

88119758992

10482978667

10289

' 9 688

1158684

1049589688698

8.5

6967

92, 83141, 59551, 236

13, 72499, 7572,066

30,9223,687

107.179.0

110.0119.0

102.9101.4

96.396.3

2,733133

11,401682

6,818239

3,300202

3,741201

24,7252,005

0)(0

8,496491

22,2331,545

17.346.9

87118758989

10586948570

11586

' 9 385

1168884

1059488718697

9.0

6866

101,93642, 32359, 613

13,918101, 345

2,210

20, 7913,587

12,14291,7092,069

25,4643,271

101.279.0

111.0118.0

100.899.3

95.8100.8

2,712132

11,293683

6,406239

3,420202

3,758201

24, 6622,013

(0(0

8,386493

22, 2351,543

16.746.8

831087689829074958765

105758886

1199185

1019590668297

7.7

6467

98,07041,30256, 768

' 87.5'80 .5

112.0' 126. 0

'97 .699.6

'91.3' 102. 6

2,502132

10,369685

6,225240

3,158201

3, 564201

24, 3402,015

0)(')

7,298493

19, 5021,544

16.045.3

6088496163726169634673628186

126' 8 583

10397896790

' 9 9

9.5

6067

77, 39333, 452

! 43,941

' Revised. » Preliminary.1 Discontinued pending receipt of revised data from one cooperator.• Reports showing percentage changes in sales of chain drug stores and chain men's wear stores are available from the Washington, D. C , office of the Bureau of Foreign

and Domestic Commerce. The"Bureau of the Census has available percentage changes for (1) Independent stores in 27 States and 4 cities, by kinds of business. (2) Whole-salers' salos, by kinds of business, (3) Manufacturers' sales, by kinds of business.

fRevised series. Indexes of department store sales in San Francisco area revised beginning 1919; data not shown on p. 24 of the August 1939 Survey will appear in asubsequent issue.



1939

August

1938


berDecem-

ber

1939

Janu-ary


RETAIL TRADE—ContinuedRural sales of general merchandise:

Total U. S., unadjusted 1929-31Middle WestEast . . . ._.SouthFar West . „

Total U. S , adjustedfMiddle WestfEastfSouthfFar Westt

= 100..dodo . .dodododod o . . . .dod o . . . .

107.299 1

105.8111 7134.6131 1120 1132.7155 0146.1

DOMESTIC

98.290.095.0

104.1125.7120 1109.1119.2144.3136.4

121.1107.9117.6148.9141.6114 6105.3119.6134.9121.0

) TRADE—Continued

140.123.139.189.153.10897

108.127.127.

9

83451677

147.135.144.177.161.113.103.111.129.133.

2718515851

183.6166. 4195. 9202. 8211.0114.8106. 7117.6135.0129.3

91.84.87.

111.100.120.109.115.140.136.

3183209674

100.89.97.

134.105.123.112.119.147.142

1198771689

115.0105.2118.6141.5118.5131.0118.7132.0156.6144.0

120.2110 2116.6144 8125. 8130.8118.01^2.4164. 3140. 9

120.5113. 3118.8137.6131.8131 2119.6129.1162 2146. 6

120.0109.9122.8133.3137. 3131 7116. 4133. 8165 8144.1

91.181.888.3

103. 8115.2124 8110 9124.1152 8140.5

EMPLOYMENT CONDITIONS AND WAGESEMPLOYMENT

Factory, unadjusted (U. S. Department ofLabor)! 1923-25=100..

Durable goods doIron and steel and their products, not

including machinery 1923-25 = 100 —Blast furnaces, steel works, and rolling

mills 1923-25 = 100-Hardware doStructural and ornamental metal work

1923-25 = 100-Tin cans and other tinware do

Lumber and allied products doFurniture .doLumber, sawmills do

Machinery, not including transportationequipment 1923-25=100..

Agricultural implements (including trac-tors) 1923-25 = 100-.

Electrical machinery, apparatus, and sup-plies 1923-25 = 100-

Engines, turbines, water wheels, andwindmills 1923-25 = 100-

Foundry and machine-shop products1923-25 = 100-.

Radios and phonographs doMetals, nonferrous, and products do

Brass, bronze, and copper products, doStone, clay, and glass products do

Brick, tile, and terra cotta . . . d oGlass . . d o . . . .

Transportation equipment doAutomobiles do

Nondurable goods doChemical, petroleum, and coal products

1923-25=100-Chemicals doPaints and varnishes doPetroleum refining , doRayon and allied products do

Food and kijdred products doBaking doSlaughtering and meat packing do

Leather and its manufactures doBoots and shoes do

Paper and printing doPaper and pulp do

Rubber products doRubber tires and inner tubes do

Textiles and their products doFabrics „ doWearing apparel do

Tobacco manufactures doFactory, adjusted (Federal Reserve) t do

Durable goods doIron and steel and their products, not

including machinery 1923-25=100--Blast furnaces, steel works, and rolling

mills 1923-25 = 100..Hardware doStructural and ornamental metal work

1923-25=100-.Tin cans and other tinware do

Lumber and allied products. doFurniture doLumber, sawmills do

Machinery, not including transportationequipment 1923-25 = 100 -.

Agricultural implements (including trac-tors) 1923-25=100-.

Electrical machinery, apparatus, and sup-plies 1923-25 = 100--

Engines, turbines, water wheels, andwindmills 1923-25=100..

Foundry and machine-shop products1923-25=100-


Brass, bronze, and copper products.doStone, clay, and glass products do

Brick, tile, and terra cotta doGlass .do


96.484.2

92.4

96.976.0

71.8107.968.487.962.1

96.7

115.0

87.7

86.7

84.0135. 895.3

107.881.461.7

100.776.872.0

108.0

112.1119.4122.5122.7300.8146.3146. 7100.6100.6100.2110.3107.082.868.4

103.293.2

121.166.895.784.9

92.5

9778

7098

66.28759

97.2

122

88

97

84126

96.9109

78.757

10185 6

84

88.872.4

82.1

86.963.8

59.2104.563.680.458.7

84.0

104.3

74.6

82.1

74.898.282.794.071.853.683.751.848.0

104.4

109.3112.2115.2123.1281.8145. 5145. 295.798.899.7

• 107. 6102.872.360.198.387.0

119.865.787.872.8

82.2

8765

5795

61.57956

84.6

110

75

82

7591

84.195

69.25084

57.756

92.075.9

84.3

87.870.4

59.9102.565.383.559.9

85.4

94.4

78.1

82.6

75.4103. 387.397.973.355.087.464.464. 9

107.3

114.6114.5117.2122.2302.2150.2146. 397.098.298.8

109.4104.075.861.4

101.388.4

125.967.889.976.4

83.6

8871

5893

62.88058

85.1

100

78

82

yr89

86.298

70.75287

75.780

92.479.7

86.7

89.283.7

60.590.665.284.359.5

87.3

97.9

81.4

82.9

75.2119.391.5

101.875.755.993.180.286.3

104.6

114.9116.8117.6120.7301.4133. 9145.099.095.494.7

110.6104.877.663.0

100.989.0

123. 367.790.278.3

85.8

8983

5988

62.47957

86.8

104

81

85

7598

88.4101

73.25392

80.386

93.382.9

89.5

93.188.8

60.188.964.784.158.6

89.6

101.0

83.9

83.0

76.5131.394.9

106.177.356.398.092.3

101 9103.1

114.6119.3117.1120.1299.9127. 6145. 3102.390.487.8

112.3105.982.365.6

100.291.5

115.368.392.882.1

89.1

9389

6091

64.08059

89.2

104

83

87

77117

91.9106

76.85698

90.699

94.083.8

90.2

94.490.8

61.388.463.784.457.0

91.9

110.3

84.6

84.8

79.3130.494.5

105.876.255.199.096.9

108.8103. 8

114.3119.0117.1119.2298. 4123. 8144.2104.094.392.3

113.2106.383.566.7

101.993.8

115.566.694.483.7

90.9

9591

6293

65.08359

91.7

110

85

88

79123

93.1106

77.85799

93.2102

92.282.3

88.8

94.289.2

61.187.061.480.755.0

91.5

116.4

82.8

86.6

79.4119.891.7

103.871.952.595.396.6

106.1101.7

113.2117.5116. 5118.2300.3116.9141.0101.499.097.7

110.6105.581.366.6

100.992.8

114.460.594.684.4

90.7

9589

6394

65.78460

92.3

114

84

92

80126

93.3105

79.661

10094.1

102

93.683.3

90.0

94.887.6

63.487.962.083.355.0

93.5

127.0

84.3

90.0

80.9113.293.1

104.472.151.795.296.8

104.4103.5

113.4118.1117.2117.5305.9114.2142.296.1

103. 0102.4111.0106.381.565.6

104.694.1

123.963.794.384.2

90.4

9487

6695

65.18559

94.0

123

85

91

81129

93.4104

77.45995

92.998

94.384.1

91.3

95.687.4

65.689.862.183. 455.0

94.6

130.5

85.9

93.2

81.6109.393. 8

104.875.153.496.496.5

103.8104.0

116. 0118. 6119. 7117.4303. 8115.4142. 894.0

103. 9103.8111.1105. 982.866.7

104. 993.1

127.060.994.083.7

90.7

9487

6795

63.28556

94.8

124

86

91

82130

93.4104

77.45895

91.297

94.184.8

91.3

95.785.0

66.392 763.982.458.0

95.0

129.4

86.8

95.7

82.0104. 592.9

103. 978.557. 697.898.1

101.8103. 0

116. 6117.0122. 5117.2302. 4117.6142.793.3

ion 299. 6

111.1106. 382.106. 7

101.990.7

122.863.193.883.9

90.5

9584

0796

64.28557

94.9

122

87

91

82124

93.2103

77.95897

91.196

93.084.0

90.2

94.680.1

66. 593.665.081.460.2

94.9

122.8

86.6

97.4

82.1106. 592.0

104. 778.557.697.491.293. 3

101.6

112.9116. 5123.4118.1295. 7120. 5146. 196.992.591.0

111.2108. 781.266.799.490.3

115. 664.293.382.9

89.6

9480

6795

64.88459

94.4

119

86

93

81121

92.8104

75.45596

87.289

93.484.6

90.4

95.772.1

67.197.766. 383.260.9

95.6

118.7

86.5

99.0

82.6119.991.3

104. 280.561.399.090.891.6

101. 8

109.8116.5124. 3120. 5286. 2127.2147.499.404.192.5

109. 8106.180.166. 298.089.6

112. 665.294.383.9

90.3

9672

6695

65.38559

95.4

118

87

95

83122

92.8105

77.55798

88.989

93.582.9

89.7"

95.369.0

68.8100.266.884.661.1

95.7

113.0

86.8

96.2

82.6129. 691.4

104.079.761.596.379.175.4

103.6

110.4117.1122.2121. 8297.0135.0147.8100.799.799.1

110.1105.878.766.698.291.2

109.565.494.883.7

90.6

9670

6795

66.18660

96.1

115

87

95

83131

94.710678.45898

83. 581

fRevised series. Rural sales of general merchandise adjusted for seasonal variations revised beginning January 1934; see table 37, p. 17, of the August 1939 issue. Datafor employment and pay rolls without adjustment for seasonal variations beginning 1933 and for the entire series on employment adjusted for seasonal variations have boonrevised to the Census of Manufactures for 1935 and 1937. For total, durable, and nondurable goods indexes, see table 42, p. 17, of this issuo and tables 1 and 2, pp. 15-16,on the December 1938 Survey. For individual industries and industrial groups, data for 1935 to date are available upon request. Earlier figures are correct as shown intables 76 and 77, pp. 13-18, of the November 1938 issue.

179391—39 4

26 SUEVEY OF CURRENT BUSINESS October 1939


1939

August

1938


berDecem-

ber

1939

Janu-ary


EMPLOYMENT CONDITIONS AND WAGES—Continued

EMPLOYMENT—Continued

Factory, adj. (Federal Reserve)f—ContinuedNondurable goods 1923-25=100-

Chemical, petroleum, and coal products1923-25=100-.

Chemicals do.Paints and varnishes do.Petroleum refining doRayon and allied products do

Food and kindred products doBaking doSlaughtering and meat packing do




Textiles and their products doFabrics doWearing apparel. do

Tobacco manufactures doFactory, unadjusted, by cities and States:

City or industrial area:Baltimore 1929-31=100..Chicago 1925-27=100..Cleveland 1923-25=100-Detroit . . d o . . . .Milwaukee _ 1925-27=100..New York doPhiladelphia 1923-25=100..Pittsburgh — d o . . . .Wilmington.. . do

State:Delaware doIll inois. . . _ 1925-27=100..Iowat ..1923-25=100..Maryland. . . 1929-31=100..Massachusetts 1925-27=100..New Jersey. .1923-25=100New York _ ..1925-27=100..Ohio ....1926=100..Pennsylvania 1923-25=100..Wisconsin! 1925-27=100,.

Nonmanufacturing, unadjusted (U. S. Depart-ment of Labor):

Mining:Anthracite ...1929=100..Bituminous coal _ doMetalliferous doPetroleum, crude, producing doQuarrying and nonmetallic do

Public utilities:Electric light and power, and manufactured

gas 1929=100.Electric railroads, etc doTelephone and telegraph do

Services:Dyeing ajid cleaning doLaundries doYear-round hotels _ do

Trade:Retail, total do

General merchandising doOther than general merchandising.do

Wholesale doMiscellaneous employment data:

Construction employment, Ohio__1926=100..Federal and State highway employment:

Total number-Construction (Federal and State) . .do. ._Maintenance (State) do

Federal civilian employees:United States d o . . .

District of Columbia, d o . . .Railway employees (class I steam railways):

Total thousands-Index:

Unadjusted. _ 1923-25=100.Adjusted do

Trade-union members employed:All trades percent of total-

Building d o . . .Metal d o . . .Printing do___All other do._.On full time (all trades) d o . . .

LABOR CONDITIONS

Average weekly hours per worker in factories:National Industrial Conference Board (25 in-

dustries) hours..U. S. Department of Labor (87 industries)!

hours..

105.9

114.9119125122299

129.3146102

97.396

111.4107

83.868

104.695.4

120.465.3

72.282.889.494.391.193.370.082.7

97.880.7

129.390.575.580.884.089.078.490.0

48.781.760.666.748.1

93.969.775.5

102.599.190.2

82.489.180.6

48.0

274,949142,788132,161

56.254.9

102.1

112.5112118122280

127.714497

95.595

108.7103

73.260

99.689.1

119.264.3

85.165.474.056.885.981.782.960.877.6

99.572.0

125.190.070.074.776.577.671.786.0

37.680.151.472.444.6

92.769.574.8

105.097.590.4

80.086.478.387.6

36.1

323, 650153, 509170,141

872, 347117,054

955

52.651.3

836475878863

35.2

36.3

102.7

112.9113118121299

126.714498

97.297

109.0104

75.861

100.389.0

121.465.7

87.267.276.972.184.487.784.462.178.8

94.273.7

126.991.971.875.780.380.873.483.1

46.483.455.271.544.6

92.569.374.9

107.896.591.8

84.797.081.588.5

35.8

337, 638164, 444173,194

872, 644118,172

979

53.952.9

846873

65

36.2

36.9

101.5

112.6115118120300

123.414399

96.596

109.2105

76.563

98.988. 1

119.064.4

86.868.779.488.085.488.386.164.481.0

87.774.4

130.591.372.475.280.882.374.481.4

52.487.257.969.544.4

92.569.974.7

106.894.492.9

85.999.482.389.1

34.7

350,090164, 696185, 394

873, 853118,455

54.753.2

8568748889

36.7

37.4

103.1

113.3119118120297

127.4144100

97.6

104.7

113.7120119119297

128.8144100

98.1

110.6106

81.466

100.090.5

116.965,0

86.569.680.697.689.086.188.165.982.2

87.875.3

127.990.872.676.980.384.975.481.5

51.088.661.968.344.4

91.969.574.4

102.593.792.5

86.9104.582.389.8

35.2

341,832138, 512203, 320

869, 389119,107

977

53.853.4

846876888964

36.9

36.5

111.1106

82.967

102.292.3

120.065.6

87.270.682.3

102.992.486.990.966.486.9

91.976.1

131.091.673.877.781.386.476.282.4

51.389.362.367.841.4

91.469.474.3

97.993.492.0

98.1144.186.090.0

32.0

266, 629103,491163,138

919,161120,852

961

52.854.2

856778888965

36.6

37.1

104.4

113. 6119119119297

128.8144

111.0106

81.467

101.991.9

119.565.9

84.869.781.8

100.890.685.489.665.387.7

92.775.2

127.689.473.076.780.084.974.680.6

50.088.762.667.038.3

90.069.274.1

94.293.391.8

82.290.780.088.3

28.7

201, 30773,116

128,191

864,342120,229

52.254.4

65

36.6

36.3

103.9

112.9120118119301

125.714496

99.098

111.1106

81.466

101.891.7

120.264.8

86.770.481.899.393.689.191.566.089.3

94.376.8

128.092.474.677.681.986.076.382.7

52.288.660.966.437.9

89.669.373.3

92.192.892.6

81.588.879.687.9

28.6

176,07958,815

117, 264

875, 541120,445

958

52.754.8

856679879066

36.8

36.9

103.8

113.4120120119299

127.314496

99.298

111.4106

82.267

101.091.0

119.261.4

89.270.682.397.794.890.591.066.790.6

95.277.8

129.094.574.877.982.787.176.583.6

51.787.461.066.240.1

89.669.573.4

95.492.992.7

83.893.281.387.4

32.4

169,15558, 622

110, 533

879, 504120,873

966

53.154.6

8668

889167

36.9

37.1

103.3

114.2118121118309

127.014496

97.797

111.5106

81.367

99.690.2

116.464.5

90.369.882.296.094.588.090.867.292.1

97.077.6

131.195.573.177.582.086.676.283.7

53.025.961.565.843.0

90.369.174.1

102.293.593.2

85.596.982.587.3

35.0

187, 52378,394

109,129

885,766122,003

967

53.253.6

877183909169

36.8

36.4

103.3

114.4117119119302

128.414698

93.792

111.5107

81.167

99.891.0

115.265.1

91.770.081.862.492.985.590.065.891.6

96.777.6

131.995.871.678.080.485.275.084.5

52.647.961.966.145.6

91.069.6

'74.7

107.095.593.9

85.796.882.887.2

43.0

220,923104,804116,119

903,112122, 792

974

53.653.0

887583909170

36.5

36.7

104.2

113.2117120120295

129.4147100

97.196

111.1106

80.866

101.292.0

117.565.5

91.770.581.486.794.383.691.067.688.4

93.778.1

133.295.871.278.980.985.5

'75.8

51.2'78.3'61.6

67.0'47.3

'92.369.9

'75.3

' 110.198.7

' 92 .8

'86.4'97.4'83.5

88.1

43.6

252,316130,743121,573

925,982123, 541

1,010

55.654.4

37.2

37.2

105.4

113.6115122121298

127.9147101

98.798

111.8106

79.767

104.294.7

121.165.7

'92.670.980.359.592.283.191.7

'67.5'85.3

'92.778.3

129.296.773.378.180.687.0

'77.0'89.2

'45.0'79.7'60.4

67.5'47.5

'93.2'69.7'75.4

106.6' 100. 0'90.2

'83.5'91.4'81.4'87.9

'50.0

264,502138,345126,157

927,887123,876

1,019

56.154.7

7684909170

37.2

36.6

' Revised.t Revised series. Iowa employment revised beginning July 1937; revisions are shown on p. 26 of the March 1939 Survey. Wisconsin employment and pay rolls have been

adjusted, beginning 1929, to trends indicated by Census data. Indexes not shown on p. 26 of the November 1938 Survey will appear in a subsequent issue. For data on fac-tory employment, adjusted (Federal Reserve) revised, see footnote marked with a " t" on p. 25. For average weekly hours per worker in factories, see note marked witha " t" on p. 29.

October 1939 SUKVEY OF CURKENT BUSINESS 27


1939

August

1938


berDecem-

ber

1939

Janu-ary



LABOR CONDITIONS-Continued

Industrial disputes (strikes and lockouts):Beginning in month number.In progress during month.. do. . .Workers involved in strikes:

Beginning in month —thousands.In progress during month do

Man-days idle during month do_—Employment Service, United States:

Applications:Active file... _ do._.New ...do.__

Placements, total __.do_._Private do

Ratio of private placements to active filepercent.

Labor turn-over in mfg. establishments:Accession rate.._mo. rate per 100 employees.Separation rate:

Total do. . .Discharge do__.Lay-off _do___Quit do—

PAY ROLLS

Factory, unadjusted (U. S. Department ofLabor) t--- ...1923-25=100--

Durable goods d o —Iron and steel and their products, not in-

cluding machinery.... —1923-25=100..Blast furnaces, steel works, and rolling

mills 1923-25=100--Hardware doStructural and ornamental metal work

1923-25=100--Tin cans and other tinware do

Lumber and allied products doFurniture doLumber, sawmills do

Machinery, not including transportationequipment 1923-25=100-.

Agricultural implements (including trac-tors) 1923-25=100-.

Electrical machinery, apparatus, andsupplies 1923-25=100-.

Engines, turbines, water wheels, andwindmills 1923-25=100.

Foundry and machine-shop products1923-25=100..


Brass, bronze, and copper products-doStone, clay, and glass products do

Brick, tile, and terra cotta doGlass do


Nondurable goods.. doChemical, petroleum, and coal products

1923-25=100..Chemicals doPaints and varnishes doPetroleum refining doRayon and allied products do

Food and kindred products doBaking doSlaughtering and meat packing do




Textiles and their products doFabrics doWearing apparel do

Tobacco manufactures doFactory, unadjusted, by cities and States:

City or industrial area:Baltimore —1929-31 = 100..Chicago .1925-27=100..Milwaukee do.New York __ ___ doPhiladelphia. _ 1923-25=100-Pittsburgh... do.Wilmington do.

State:Delaware... _ __ do.Illinois 1925-27=100..Maryland 1929-31=100Massachusetts 1925-27=100-New Jersey. ..1923-25=100..New York.... __ . . . 1925-27= 100-Pennsylvania 1923-25=100Wisconsin! 1925-27=100-

*275*400

*>70p 100J>900

« 5, 789«558• 336«254

•4 .4

5.06

3.01.14

2.05.82

89.981.7

87.9

92.780.6

64.3113.863.076.156.8

97.1

124.5

93.5

114.4

78.7123.090.3

113.772.249.8

104.878.474.399.2

121.6137.4125.5135.6288.4136.2134.7106.484.983.3

103.1107.285.978.487.780.396 762.7

114.061.398.185.594.891.478.8

76.770.3

110.172.182.380.280.791.7

262434

4881

831

8,119623271190

2.3

5.29

3.08.10

2.33.65

77.363.1

66.9

67.259.6

49.7108.657.966.054.1

75.2

102.4

70.5

87.4

62.782.971.886.959.540.482.549.747.093.2

116.0123.2113. 4138.2264.5129.9133.0101.982.882.899.2

102.067.759.082.374.592.261.1

92.352.284.375.579.366.474.1

74.758.993.964.570.970.066.980.3

222384

96133990

7,966523281203

2.5

4.51

3.56.12

2.62.82

81.668.1

70.1

69.667.9

48.2104.559.671.954.5

77.8

93.3

76.0

87.5

63.691.778.792.861.541.986.764.666.396.7

118.1123. 6116.7134.7282.1135.8136. 6105.779.578.2

102.4101.674.865.686.475.8

101. 563.1

94.054.081.183.682.766.775.4

74.460.395.767.172.675.368.977.7

256406

53113842

7,743565292208

2.7

5.19

3.30.12

2.40.78

84.274.6

76.7

76.189.2

49.090.559.772.254.3

81.1

98.9

81.2

87.9

64.8107.585.4

100.266.344.197.583.591.394.9

119.3130.4118.6132.9277.0125. 4132.8106.974.571.1

105.1106.677.767.385.177.494.762.9

96.755.284.780.683.873.675.9

71.762.298.767.674.675.072.380.9

207372

4375

558

7, 529503251178

2.4

4.24

3.14.10

2.44.60

84.477.6

81.0

84.396.4

48.688.855.968.550.0

83.2

101.7

83.7

89.1

65.9117.387.0

103.967.342.3

103.595.6

107.692.1

118.3130.4116.0133.7277.1120.6132.9106.966.460.0

104.5103.083.073.380.578.479.361.8

96.855.989.976.084.578.676.4

71.662.698.766.375.072.973.381.6

177310

3862

513

7,216477230161

2.2

3.22

3.88.09

3.21.58

87.179.6

82.7

85.793.2

51.689.255.771.548.3

88.5

122.5

86.1

95.3

70.8118.187.1

103.067.042.8

104.397.7

107.495.4

119.3132.2117.6134.2276.8118.9131.5109.474.869.8

108.5103.586.876.985.582.486.061.7

99.458.592.879.089.680.084.2

78.564.9

101.969.577.875.875.683.8

' 173'293

4970

512

7,434644199130

1.7

4.09

3.19.10

2.24.85

83.776.0

79.5

84.584.6

50.287.951.763.645.7

86.5

120.7

83.5

95.7

69.8106.381.796.960.439.896.693.2

101.392.4

118.8130. 2115.3134.6283.3113.1129.5108.083.080.0

103.2102.782.274.283.280.183.951.3

96.057.188.877.687.779.184.9

79.063.297.968.375.974.473.579.5

'179'304

6786

540

7,080483181126

1.8

3.06

2.61.10

1.87.64

86.077.7

81.7

85.981.6

53.087.152.769.644.3

90.8

141.2

86.9

104.0

72.896.385.3

100.461.638.697.991.697.395.3

118.9132.0117.9132.5287.8110.0130.098.589.587.8

103.6105.281.071.090.382.599.652.7

99.557.395.482.090.282.885.8

79.665.1

102.270.977.276.876.285.7

••193r 313

4162

591

6,749500254185

2.7

3.34

3.18.13

2.23.82

87.679.4

83.6

87.384.7

55.994.053.669.845.7

93.4

146.4

90.1

109.0

74.293.486.2

102.765.540.4

100.091.797.096.7

120.6133.3122.7131.6286.9111.8131.397.889.488.3

105.4105.683.274.191.480.6

106.853.3

103.259.094.786.991.183.588.2

81.767.3

105.371.279.079.477.686.7

'219••352

'391418

' 4, 868

6,545478270195

3.0

2.95

3.46.10

2.60.76

85.579.5

82.0

85.279.3

57.795.455.467.049.9

92.8

144.5

89.2

111.9

73.588.783.299.966.443.093.894.299.592.2

119.5130.2125.6128.6278.6112.1129.196.779.877.3

104.5104.781.071.782.074.990.555.0

102.557.394.779.587.381.190.0

83.466.2

104.568.277.176.474.285.3

'210'350

' 9 3'453

' 3, 500

6,382516333242

3.8

3.29

3.48.13

2.67.68

85.078.8

80.2

82.377.6

57.398.258.066.654.2

94.0

134.9

90.6

114.0

75.092.384.0

103.567.743.896.387.388.091.9

119.6131.3129.8132.2273.0U8.8136.5104.768.663.8

105.1105.680.071.679.975.383.557.7

107.257.892.877.788.479.889.1

82.366.4

107.067.078.374.473.9

'86 .3

'194'319

' 5 6'122'923

6,283570344251

4.0

3.92

3.31.12

2.46.73

86.580.7

82.6

85.973.8

58.8103.260.168.555.9

95.4

127.3

91.6

114.3

76.9104.584.0

103.170.650.1

100.888.988.693.0

118.7131.5128.9134.4271.8123.8138.1106.774.670.4

103.5104.582.174.879.675.682.361.5

110.558.796.576.991.985.088.5

82.067.3

110.467.580.075.9

'77.189.2

*210

v 170*200

* 1,100

6,101494286213

3.5

4.19

2.72.121.91

84.476.0

78.6

82.065.4

59.0102.856.468.550.4

94.0

122.7

91.0

110.2

74.8113.683.5

106.865.946.491.775.972.093.8

117.8130.8124.0131.5283.2128.5139.1109.283.681.9

102.0101.281.377.179.476.679.961.8

'110.659.192.476.3

'93 .1'79.9

83.3

78.266.6

'110.470.178.675.8

'75.2

' Revised.tRevised series.

"f" on p. 26,

v Preliminary. « Excludes South Dakota.For data on factory pay rolls (U. S. Dept. of Labor) see footnote marked with a "f" on p. 25. For Wisconsin pay rolls, see footnote marked with a



1939

August

1938


berDecem-

ber

1939

Janu-ary



PAY ROLLS—Continued

NTonmanufacturing, unadjusted (U. S. Depart-ment of Labor):

Mining:Anthracite , 1929=100..Bituminous coal doMetalliferous do.__Petroleum, crude, producing doQuarrying and nonmctallic do

Public utilities:Electric light and power, and manufactured

gas 1929= 100..Electric railroads, etc do.Telephone and telegraph do.

Services:Dyeing and cleaning do.Laundries do.Year-round hotels do.

Trade:Retail, total -do.

General merchandising do.Other than general merchandising..do

Wholesale d o —WAGES

Factory average weekly earnings:National Industrial Conference Board (25

industries) dollars..U. S. Department of Labor (87 industries) f

dollars..Durable goods d o —

Iron and steel and their products, not in-cluding machinery dollars..

Blast furnaces, steel works, and rollingmills dollars..

Hardware ._ d o —Structural and ornamental metal work

dollars..Tin cans and other tinware do

Lumber and allied products doFurniture d o —Lumber, sawmills . . d o —

Machinery, not including transportationequipment dollars..

Agricultural implements (includingtractors) dollars...

Electrical machinery, apparatus, andsupplies dollars..

Engines, turbines, water wheels, andwindmills dollars..

Foundry and machine-shop productsdollars..

Radios and phonographs doMetals, nonferrous, and products,.do

Brass, bronze, and copper productsdollars..

Stone, clay, and glass products doBrick, tile, and terra cotta .doGlass - do

Transportation equipment . .doAutomobiles do

Nondurable goods ..doChemical, petroleum, and coal products

doChemicals doPaints and varnishes __doPetroleum refining do.Rayon and allied products do.

Food and kindred products do.Baking . .do.Slaughtering and meat packing, .do.

Leather and its manufactures doBoots and shoes do.

Paper and printing do.Paper and pulp do.

Rubber products do.Rubber tires nnd inner tubes do.

Textiles and their products doFabrics doWearing apparel do

Tobacco manufactures doFactory average hourly earnings:

National Industrial Conference Board (25industries) dollars..

U. S. Department of Labor (87 industries) tdollars..

Durable goods ..doIron and steel and their products, not in-

cluding machinery dollars..Blast furnaces, steel works, and rolling

mills dollars..Hardware doStructural and ornamental metal work

dollars..Tin cans and other tinware. do

Lumber and allied products doFurniture doLumber, sawmills .do

33.476.354.361.842.7

101.071.695.8

73.185.979.8

69.280.366.976.1

20.064.243.766.839.2

69.591.3

74.383.177.4

66.878.864.373.7

24.93

22.9024.98

24.11

24.7023.06

26.9423.4021.0220.4320.90

25.08

26.43

25.28

28.13

24.8721. 2024.14

25.6322.7719.5623.9531.2232.3321.25

29.0230.3927.3935.2524.1623.1825.3327.9319.8018.8527.4824.2625.3928.7316.8716.5617.6816,89

.711

.629

.702

.753

.835

.657

.731

.597

.523

.522

.519

29.471.946.166.538.4

98.468.492.6

81.781.478.9

69.485.366.174.3

25.73

23.3225.80

24.59

25.2523.86

25.9322.8521.3121. 5020.88

25.57

26.55

26.07

28.00

25. 0222.2125.14

26.3223.0019.7724.1332.6433.8121.33

28.3629.9027.7034. 5824.0223.4325.8628.6618.9817.8727.9123.9226.9131.2717.0316.4318.6816.96

.714

.632

.708

.753

.839

.658

.726

.599

.526

.524

.525

43.478.349.263.739.2

99.968.995.3

78.079.5

70.888.367.275.1

26.14

23.9526.95

25.94

26.7926.32

26.1222.5021.0920.7720.94

26.07

27.11

26.71

28.01

25.5422.5326.06

27.2823.9620.3725.4733.8834.9821.35

28.4130.8827.8334.4523.6324.1125.3028.5118.3216.9728.1424. 8527.2731. 2517.0016.6518.0116.84

.714

.637

.710

.753

.839

.720

.606

.520

.518

.520

36.281.452.363.337.2

68.893.0

73.979.381.3

71.591.867.375.4

26.32

23.8227.11

26.64

28.4826.79

26.0722.5019.9119.7519.57

26.04

27.08

26.69

28.35

25.5122.4025. 70

27.1423.8219.4625. 6833. 6434.8920.85

28.2630.2227.3434.8623. 7424.2225.2127.5417.2215.4127.5823.7827.5832.7716.3516.3516.3516.55

.714

.645

.724

.757

.842

.689

.725

.607

.533

.524

.537

42.580.954.162.533.7

98.269.792.5

68.380.081.1

79.2122.970.175.7

26.02

24.3127.34

26.91

28.4925.31

27.1822.7620.1420. 6019.27

27.00

29.85

27.26

29.73

26.4822. 6225.81

26.9224.0320.0625. 7632.7233.2221.53

28.5230.7227.8035. 3023.8024.7525. 2627.6918.6217.1128.6123.8528.4033.7617.0016.8217.6116.92

.713

.726

.757

.842

.667

.727

.608

.532

.526

.533

38.078.255.360.930.2

95.971.192.0

65.879.680.2

69.784.066.775.5

25.95

23.8626.65

26.37

28.1823.42

26.5922.7819.8119.1319.86

26.55

27.92

27.17

29.21

26.1122.1524.85

25.7922.9819.6524.7231.3231.5521.28

28.6330.6327.3435.7524.2224.9625.4728.0519.7118.5427.8023.8227.7232. 5916.7516.5517.3815.59

.713

.651

.729

.757

.835

.660

.731

.613

.541

.521

.550

45.281.253.462.729.7

91.7

63.278.682.8

68.481.065.874.6

26.11

24.0626.85

26.70

28.4723.04

26.9322.3319.8020.2618.83

27.27

29.96

27.63

30.50

26.6921.1525.48

26.4223.4319.4725.0430.6930.8021.49

28.5530.8927.8435.2324.1524.8325.4026.9820.1919.1327.8924.1627.2831.6817.3516.8119.0315.19

.713

.649

.726

.754

.835

.651

.729

.610

.525

.523

.523

34.277.853.661.333.1

70.591.9

67.779.381.1

83.466.874.7

26.25

24.2327.10

27.01

28.8123.93

27.5423.5720.0220.2019.34

27.67

30.19

28.09

30.92

27.0221.1425.60

26.9823.7219.5925. 3030.8130.8721.60

28.3631.0828.3035.2024.2425.0025.5227.3220.1219.1728.3724.4327.4032.5417.3816.5619.9116.22

.715

.651

.727

.752

.835

.655

.731

.608

.533

.527

.533

43.417.652.660.835.9

92.1

73.379.981.9

71.386.668.174.8

26.27

23. 8527.00

26.46

28.0723.05

28.0623.1920.0819.7419.94

27.45

30.00

27.57

30.94

26.7021.1924.90

26.4322.9619.4623.3731.8032.3320.92

27.9030.6628.2434.3923.6424.5725.1127.2318.7317.5828.0824.1127.0031.4816.3615.8617.8416.08

.717

.648

.726

.753

.835

.655

.731

.611

.539

.532

.542

57.020.454.161.239.7

70.193.7

83.083.982.4

71.586.768.374.9

26.19

23.90'26.92

26.17

27.4023.87

27.7123.6620.7319.8621.00

27.86

29.56

28.11

30.95

27.2321.7325.38

27.18'23.4719.9124.1531.0431.1821.11

28.8131.0029.1235.1023.7025.4825.9128.3917.4315.9328.2224.25

' 26. 7831.4616.3516.0117.4316.60

.720

.649

.724

.753

'.835.651

.727'.609.543.530.552

36.1'66.5'53.8'62.5'41.7

100.271.2

'93.7

'84.286.9

'82.0

'72.5'88.1'69.3'75.8

26.79

24.25' 27. 36

26.89

28.3025.21

28.13' 23. 82

20.9619.9121.26

27.97

28.85

28.42

30.57

27.7121.6325.52

27.3223.9421.2524.86

' 31. 73' 31. 94'21.34

29.4831.0728.62

r 34. 9924.6125.1325.9628.2518.8517.44

' 28.1024.13

' 27. 8833.0616.4916.1817.4617.19

.721

.648

.724

.757

.842

.655

.721'.604.543.527.552

'25.3'64.6'47.8

62.440.8

' 100.1'70.8'94.6

'77.1'87.9'79.2

'70.8'83.6'68.1'75.9

26.76

23.7026.40

25.80

27.1223.38

27.5623.1219.6119.3019.26

27.55

29.20

28.05

30.36

26.9521.7125.41

28.3122.6119. 5823.2730. 9531.4221.27

29.1730.7428.1433.9124.5524.6126.2528.5419.8718.8827.5723.4028.2233.8416.4716.2317. 1617.48

.722

.643

.718

.760

.849

.625

.728

.605

.537

.524

.543' Revised.tBevised series. See note marked with " t " on p, 29.



1939

August

1938


berDecem-

ber

1939

Janu-ary



WAGES—Continued

Factory average hourly earnings—Continued:U. S. Dept. of Labor (87 industries)!—Contd.

Durable goods—Continued:Machinery, not including transportation

equipment dollars..Agricultural implements (including

tractors) . dollarsElectrical machinery, apparatus, and

supplies dollarsEngines, turbines, water wheels, and

windmills dollarsFoundry and machine-shop products

dollarsRadios and phonographs. . . do

Metals, nonferrous, and products doBrass, bronze, and copper products

dollarsStone, clay, and glass products _ do

Brick, tile, and terra cotta doGlass do


Nondurable goods do _Chemical, petroleum, and coal products

dollarsChemicals do__ _Paints and varnishes doPetroleum refining _ doRayon and allied products do

Food and kindred products doBaking doSlaughtering and moat packing do



Rubber products... doRubber tires and inner tubes do

Textiles and their products . . . doFabrics doWearing apparel . do

Tobacco manufactures doFactory average weekly earnings, by States:

Delaware 1923-25—100Illinois 1925-27 = 100Massachusetts . doNew Jersey 1923-25=100..New York . 1925-27=100Pennsylvania 1923-25=100Wisconsin! 1925-27=100..

Miscellaneous wage data:Construction wage rates (E. N. R.):§

Common labor dol. per hourSkilled labor do

Farm wages without board (quarterly) !dol. per month

Railway wages (average, class I)dol. per hour

Road-building wages, common labor:United States, average dol. per hour

East North Central doEast South Central doMiddle Atlantic . . . _ do._Mountain doNew England _ _ _ doPacific doSouth Atlantic. _ doWest North Central doWest South Central do

ALL PUBLIC RELIEF

Total, exclusive of transient care and adminis-trative expense ! mil. of dol._

Obligations incurred for:Special types of public assistance . do _General relief do

Subsistence payments certified by the FarmSecurity Administration mil. of doL.

Earnings of persons employed on Federalwork programs

Civilian Conservation Corps mil. of dol__Works Progress Administration:

Operated bv W. P. A.! doOperated by other Federal agencies! do

National Youth Administration:Student aid do -Work projects! do

Other Federal work and constructionprojects! mil. of dol..

82.094.695.6

113.395.4

102.7

.6851.44

- --

0.720

.768

.738

.787

.709

.595

.666

.715

.634

.511

.712

.883

.936

.578

.763

.785

.700

.986

.639

.586615

.689

.516

.493

.760

.617

.760

.941

.489

.464

.531

.462

78.488.792.3

105. 991.491.993.5

.6771.43

.714

.43

.6228

.4955

.44662747

.39

307

4336

1

20

1635

4

35

0.721

.771

.737

.788

.710

.594

.661

.713

.632

.516

.707

.897

.933

.577

.744

.781

.699

.984

.638

.576

.610

.686

.524

.501

.765

.613

.758

.946

.492

.462

.539

.458

82.588.993.6

106.993.892.593.5

.6771.43

.727

.42

.5928

.5055

.45662746

.38

311

4335

1

19

1655

C)

39

0.717

.777

.732

.785

.709

.577

.659

.709

.640

.526

.716

.878

.906

.579

.736

.775

.694

.976

.639

.598

.609

.685

.530

.506

.764

.613

.756

.944

.486

.459

.531

.456

85.590.793.5

110.592.896.098.9

.6821.43

36.09

.725

.41

.5928

.5054

.4668

.2847

.36

320

4435

1

20

1715

24

38

0.720

.794

.730

.786

.711

.582

.662

.710

.645

.531

.722

.906

.932

.580

.744

.776

.695

.979

.641

.612

.611

.685

.533

.508

.762

.612

.756

.952

.478

.460

.510

.462

85.290.191.5

108.690.796.799.4

.6821.43

.735

.40

.5929

.5055

.47702746

.36

326

4436

2

21

1725

24

39

0.721

.803

.736

.793

.712

.582

.667

.707

.651

.537

.723

.898

.924

.584

.743

.781

.699

.974

.641

.619

.615

.679

.526

.499

.771

.613

.764

.961

.482

.461

.521

.469

89.292.694.3

111.593.398.8

101.0

.6821.43

.735

.38

.6327

.5153

.5066

.2643

.36

325

4541

2

19

1685

24

37

0.724

.794

.744

.788

.713

.591

.668

.701

.651

.540

.728

.899

.921

.585

.744

.780

.699

.980

.637

.628

.617

.683

.525

.498

.765616

.768

.957

.484

.462

.525

.481

89 091.393.8

110.293.098.197.8

.6821.43

34.92

,740

37.59

28.5253

.51662742

.35

316

4644

2

21

1565

24

36

0.725

.804

.743

.787

.711

.577

.665

.704

.648

.542

.720

.924,586

.742

.780

.697

.970

.640

.632615

.684

.520

.488

.768

.611

.760

. 953

.489

.461

.539

.474

88.392.095.3

110.893.7

100.3102. 7

.6801.43

.750

.35

.6028

.5651

.4867

.2741

.38

310

4645

2

21

1504

24

34

0.728

.803

.745

.788

.715

.578

.669

.705

.651

.544

.716

.898

.926

.586

.734

.780

.698,973.643.629

615.689.517.492.771.614. 765.957.491462

.541

.474

89.693.995. 4

112.895.9

101.2102. 9

.680

.144

.726

.35

.6027

.5754

.50652740

.37

318

4646

2

18

1585

24

35

0.727

.795

.742

.792

.714

.586

.669

.704

.648

.535

.707

.898

.928

.582

.732

.in697

.973

!627613

.694

.525501

.770612

.761947

.479457

.517

.474

89.892.593.4

110.793.196.9

100.7

,6831.44

35.42

732

39.6230545557672842

.37

309

4641

2

20

1466

24

40

0.725

.787

.744

.787

.710

.589

.672

.708

.646

.534

.706

.895

.931

.584

.749

.776

.701

.970

.647

.632

.617

.689

.520'. 502.772.616.742.944.477459

.510

.472

89.992.893.5

111.892.697.5

100.6

.6821.44

.720

.40

.60

.28

.51

.55

.52

.63

.28

.45

.37

308

4639

2

20

1417

24

46

0.725

.780

.744

.782

.716

.583

.670

.707

.647

.538

.711

.803'.933.582

.762

.777

.697r. 972. 040.622

618.691.527

r. 512.770.618. 765947

.472458

. 498

.474

91.493.494. 9

113.093. 8

101.0101.4

. 6841.44

.719

.41

.6329

.5156

.4965

.28

.45

.37

'304

4737

1

19

'1337

24

54

0.724

.785

.743

.779

.716

.576

.671

.717

.646

.531

.715

.884

.926

.581

.770

.783

.704

.985

.638

.615624

.687

.521496

.770616

.773956

.471458495

.476

'88 .292.395.8

112. 194.0

'97 .395.8

.6841.44

36 26

286

4736

1

20

1203

03

57

30 SURVEY OF CURKENT BUSINESS October 1939


1939

August

1938

A u ^ s t temb'er October Novem-ber

Decem-ber

1939

Janu-ary


FINANCE

BANKING

Acceptances and com'l paper outstanding:Bankers' acceptances, total mil. of dol_.

Held by Federal Reserve banks:For own account doFor foreign correspondents do

Held by group of accepting banks:Total mil. of dol—

Own bills _.doPurchassd bills do

Held by others doCommercial paper outstanding do

Agricultural loans outstanding of agencies su-pervised by the Farm Credit Administra-tion:

Grand total mil. of doL.Farm mortgage loans, total. _ do

Federal land banks doLand Bank Commissioner,__ _do

Loans to cooperatives, total • doBanks for cooperatives incl. Central

Bank mil. of dol—Agricultural Marketing Act revolving

fund ...mil. of doL.Short-term credit, total do

Federal intermediate credit banks, loansto and discounts for:

Regional agricultural credit corps.,prod, credit ass'ns, and banks for co-operatives d* mil. of dol_.

Other financing institutions doProduction credit ass'ns do.Regional agr. credit corps do_Emergency crop loans do.Drought relief loans .do

Joint Stock Land Banks in liquidation. _doBank debits, total (141 cities) mil. of dol-

New York City do..Outside New York City do...

Federal Reserve banks, condition, end of mo.:Assets (resources) total mil. of dol

Reserve bank credit outstanding, totalmil. of dol—

Bills bought doBills discounted do.United States securities _do_

Reserves, total do.Gold certificates do.

Liabilities, total do.Deposits, total do.

Member bank reserve balances, totalmil. of dol._

Excess reserves (estimated) do.Federal Reserve notes in circulation..do

Reserve ratio percent..Federal Reserve reporting member banks,

condition, Wednesday nearest end of month:Deposits:

Demand, adjusted. mil. of dol—Time doDomestic interbank do

Investments, total 1 doU. S. Government direct obligations, doObligations fully guaranteed by U. S.

Government mil. of dol..Other securities 1 do

Loans, total 1 doCommercial, industrial, and agricultural

loans T mil. of doL.Open market paper . doTo brokers and dealers in securities

mil. of dol._Other loans for purchasing or carrying secu-

rities mil. of dol.Real estate loans doLoans to banks do_Other loans 1 do.

Money and interest rates:Bank rates to customers:

In New York City percent__In eight other northern and eastern cities

percent..In twenty-seven southern and western cities

percent..Bond yields (Moody's):

Aaa do.Baa do.

Discount rate (N. Y. F. R. Bank) d o —Federal land bank loans doFederal intermediate credit bank loans.-doOpen market rates, N. Y. C :

Acceptances, prime, bankers... .do.Call loans, renewal (N. Y. S. E.) d o —Commercial paper, prime (4-6 months)

percent..Time loans, 90 days (N. Y. S. E.) do.Treasury bills, 91 days (yield) do.Treasury notes, 3-5 years (yield) do.

235

1911286344

201

3,1342,6371,928

7C884

61

22414

18842

18510

1245476

30,61313,11817,496

17, 823

2,446

52,42614, 66114,32117,82312, 247

10,9184,7584,63186.9

18, 0965,2477,16714, 2338,565

2,2863, 3828,209

3,996317

608

5191,174

491,546

0)

0)

0)2.934.851.004.001.50

Vie1.00

M.05

258

2161298742209

3,3072,7862,009777102

76

420

19743181141265692

28,27012,24716,023

14, 261

2,58517

2,56411,02610,64014, 2619,212

8,1792,9414,16982.4

15, 3885,2105, 95812, 5917,789

1,6553,1478,270

3,886

5791,160

1091,507

2.16

3.26

4.12

3.185.491.004.002.00

Me1.00

m.06.71

261

2211299240

212

3,2902,7762,001

772110

83

27404

19041

17113

1235691

29, 52513,08516,440

14, 573

2,60018

2, 56311,29510,91814, 5739,406

2,8694,25382.7

15, 5085,1805,799

12. 9998,111

1,6753,2138, 241

3,891344

5761,161

1181,502

2.25

3.30

4.07

3.215.651.004.002.00

Me1.00

IK.08.82

270

2231309346

213

3,2572,7641,998

767116

87

28377

17536155121195590

33,23515,14018,096

14, 861

2,58617

2,56411,63911,27214,8619,672

8,7133,2274,31583.2

15, 7665,1556,21913,0818,132

1,6863,2638,327

3,892347

728

5711,164

1101,515

2.29

3.37

4.06

3.155.361.004.002.00

Me1.00

HIK.05.68

273

2221249851

206

3,2292,7511,990

760112

25366

167or

14812

1175589

29,46312,42517,039

15,293

2,58417

2,56411,97011,61315, 2939,935

8,8763,3834,38583.6

16,0135,1246,21213, 0088,106

1,6823,2208,317

3,866338

712

5721,169

1171,543

2.33

3.28

4.05

3.105.231.004.002.00

Me1 00

nIK.04.71

270

2121219158

187

3,2102,7351,982

753112

87

24363

16834148111165587

39,96618, 87921.087

15,581

2,60114

2,56412,16611,79815,58110.088

8,7243,2054,452

15, 9865,1606,06113,219

1,7323,2218,430

3,843328

5601,169

1151,567

2.33

3.47

4.04

3.085.271.004.002.00

Me1.00

.8

.03

.67

255

00

2041228252

195

3,1852,7191,973

746105

80

24362

16433148111155585

32,39314,53317,860

15,639

2,60715

2,57412,38211,94815,63910,420

9,2153,6444,339

16,0485,1836,35913, 2098,173

1,7893,2478,233

3,767324

792

5351,174

991,542

2.29

3.41

4.10

3.015.121.004.002.00

Me1.00

IK.03.65

248

1227650

195

3,1782,7101,969

741

74

24370

16734

15511

1165485

27,58112,38015,201

15,862

2,59814

2,56412, 56112,12515,86210,571

8,9363,3874,35384.2

15, 9655,2026,41413, 4088,143

2,0193,2468,186

3,773313

799

5231,136

921,550

2.24

3.33

4.09

3.005.051.004.001.92

Me1.00

IK.03.63

245

00

1911177454

191

3,1732,6941,960

73491

23389

17535

16810

1215483

34,48616,27418, 211

16,186

2,58714

2,56412,95112,55316,18610,919

9,1573,5594,38084.7

15,9915,2176,466

13, 388

2,0263, 2668,191

3,814305

764

5311,140

941,543

0)

0)

0)2.994.891.004.001.50

Me1.00

tt-HIK.03.51

238

00

1891187249

192

3,1722,6831,955

728

61

23403

18336

17810

1255482

30,14313,31116,832

16,766

2,59513

2,57113,47613,10316, 76611,376

9,9004,0984,45885.1

16,6605,2486,627

13,7148,341

2,0263,3478,071

3,841302

648

5391,148

601,533

0)0)

0)3.025.151.004.001.50

Me1.00

IK.03.50

247

00

1921246855

189

3,1662,6711,948

72384

60

23411

18738

18310

1255480

31, 92814,16517, 763

16,922

2,57314

2,56413 67313, 32616, 92211,535

10,0294,2184,47785.4

16,9655, 2356,67513, 5548,237

2,0553,2628,126

3,822308

721

5391,156

591,521

0)

0)

0)2.975.071.004.001.50

M1.00

H-HIK.03.42

245

191122

53181

3,1582,6581,941

71883

60

23417

19040188101255479

33,98815,31218,676

17,172

2,57915

2,55113, 87413,52417,17211,701

10,0184,1404,51185.6

17, 2205,2376,747

13,8628,423

2,1483,291

3,833303

648

5431,161

511,550

0)0)

0)2.924.911.004.001.50

M1.00

IK.03.39

236

188119

48194

3,1482,6471,934

71385

62

22417

18941

18810

1255477

30,47712,79417, 683

17, 348

2,48615

2,48814, 23013,87817, 34811,952

10, 5074,5534,53086.3

17,4625,2437,012

14, 0788,515

2,2413,3228,166

3,887313

655

5261,168

741,543

0)

0)

0)2.894.841.004.001.50

M«1.00

IK.04.45

«»Less than $500,000. cTTo avoid duplication, these loans are excluded from the totals.•Includes a small amount of Federal intermediate credit bank loans (direct) not shown separately.ISee note marked with a " 1 " on p. 30 of the July 1939 issue.1 Discontinued by reporting source. New series on somewhat different basis will be substituted when available.



1939

August

1938


berDecem-

ber

1939

Janu-ary


FIN AN CE—Continued

BANKING—Continued

Savings deposits:Savings banks in New York State:

Amount due depositors mil. of doL-U. S. Postal Savings:

Balance to credit of depositors doBalance on deposit in banks do

COMMERCIAL FAILURESt

Grand total number-Commercial service, total __.doConstruction total doManufacturing, total „ __ do _

Chemicals and drugs doFoods __ do _Forest products doFuels doIron and steel doLeather and leather products doMachinery . do _.Paper, printing, and publishing doStone, clay, glass and products doTextiles doTransportation equipment _ doMiscellaneous ___ _ do

Retail trade, total _ doWholesale trade, total doLiabilites: Grand total thous. of doL.Commercial service, total.- - . doConstruction, total doManufacturing, total - do

Chemicals and drugs doFoods _ doForest products doFuels _ . __ doIron and steel doLeather and leather products doMachinery .__ _. do-__Paper, printing, and publishing doStone, clay, glass and products do _Textiles doTransportation equipment . do _Miscellaneous do

Retail trade, total ._ do .Wholesale trade, total » do

LIFE INSURANCE

(Association of Life Insurance Presidents)

Assets, admitted, total:]: mil. of dolMortgage loans, total . do

Farm doOther do

Real estate holdings doPolicy loans and premium notes _„ do _Bonds and stocks held (book value) total

mil. of dol.Government (domestic and foreign)..doPublic utility doRailroad __ doOther do

Cash . doOther admitted assets . . . do

Insurance written :0Policies and certificates, total number

thousands. _Group, _ doIndustrial . _ doOrdinary do

Value, total thous. of dol._.Group doIndustrial doOrdinary do

Premium collections, total _doAnnuities . . . doGroup doIndustrial . doOrdinary do

(Life Insurance Sales Research Bureau)

Insurance written, ordinary, total f thous. of dol.New England doMiddle Atlantic. _ . . . . . _ doEast North Central doWest North Central doSouth Atlantic doEast South Central doWest South Central doMountain doPacific do

Lapse rates 1925-26-100..

5,529

1,27155

8594146

1514

3918

18

115

123

311

18528

9311, 259

491765

4,06938

1,64252140

337311

51269

20535

16289

4, 4611,473

942261431250

584, 59583, 901

119, 068381, 626244, 706

23, 47211,29254, 271

155,671

479, 79434, 364

123, 012107, 01951,08048, 48019, 72938, 83114, 84242,437

5,332

1,25299

1,0153457

1738

37122

116

1297

416

22629122

16,382344

1,1286,147

91747370

76764

62256434549

2,254340204

5,9032,860

22, 3024,313

6703,6431,8012,663

12,3885,5072,8472,7541,280

803334

71218

518176

550,96033,443

156, 304361, 213245, 298

22,65210,60860,073

151,965

470,91730,887

123,61097,45353,08246.83018,83441, 23514,85044,136

5,362

1,24898

8663349

1846

31148

116

18189

334

26528

7214, 341

347782

5,22765

1,506480696204

57261415124981

77361

6,4501,535

22,4134,334

6743,6601,7922,663

12, 5535,5982,8852,7541,316

732339

76016

582161

519,93224,924

173,641321, 367237,697

19, 36610,40860,695

147,228

428,48228, 648

112,04990, 54245,86442,11119. 50436,17513,42840,161

5,363

1,25096

9974743

172103814485

12167

307

21627108

.13, 219575607

4,110245

1,031478316

8154

206604305341106343

5,2512,676

22, 5204, 350

6743,6761,7902,659

12,6585,6032,9542,7521,349

727336

82224

598200

592, 43232, 288

179, 553380, 591234,120

20,9059,980

57,253145,982

488,95635,105

139, 695103, 32349,98646, 36518,94140, 21813, 50441,819

5,359

1,25087

9844855

1966

44130

10101215

751

820

58699

12, 3021,158

7134,434

90703909

0429

92162333270892149405

4,5131,484

22,6204,361

6733,6881,7902,650

12, 6295,6032,9502,7261,350

821369

86534

608223

671, 26243, 754

182, 690444,818248, 595

28, 51510,00155, 034

155,045

570, 64844, 547

170, 752120,49356,66551,95723, 54840, 57514, 93447,177

5,405

1,25286

8753748

175113321

385

1184

443

2452788

36, 5281,628

7976, 285

1851,743

48915652416970489

116540

1,206364

4,14223,676

22, 7294,381

6703,7111,7512,636

12,8695,7943,0042,6491,422

635457

1,08971

755264

974,92091, 294

226,085657, 541355, 603

50,20812,14896, 493

196, 754

897,88665, 390

279,319187, 74293,67279,46334,19862, 03222, 07573, 995

101

5,417

1,25983

1,2635454

2187

43179

121217158

413

34802135

19,1221,912

6156,803

811,636

387357

1,090575713267335650

26686

7,7312,061

22,8504,395

6703,7251,7432,628

12,8845,8572,9572,6531,417

747453

64830

357262

729,93751,89999, 363

578,675277,860

35,90512.91465,146

163,895

729, 76658,827

194,457174,37076,49863,30027,10153, 20217,80664, 205

5,431

1,26381

9633245

177124218699

11164

310

1961891

12, 788262968

4,985125

1,482237306255118255512112

1,0550

5285,2511,322

22,9294,403

6693,7341,7402,621

12,9505,8952,9742,6571,424

759456

67523

399252

570,49140, 365

109,871420, 255250, 374

22,49111, 66756,981

159, 235

532, 03243,632

140,911122, 242

54,14848,03820, 38642,23313,67746, 765

5,478

1,26680

'1,057'49'50

'2037

5120

312

715158

504

18'634'121

17,9151,1131,2287,875

553,248

74275530686

302188155

1,614145279

5,6622,037

23,0184,410

6673,7431,7382,611

12,9995,9032,9952,6711,430

810450

84233

499310

645,01945,205

138,396461,418287, 539

25,81713,01962,960

185, 743

577,20344,852

159, 747130, 647

55,91353.05022,84545,99715, 84848, 304

5,463

1,26476

' 1,064'43

51'208

662181112

91713

141

227

'629'133

17,492495744

8,294100

1,444340

1,164363

1,837565666

81,024

388395

5,5662,393

23,1004,416

6673,7491,7432,605

13,0655,9523,0032,6751,435

827444

71620

464232

550,66635,981

129, 051385,634243,414

19,83810,45061, 263

151,863

495, 65037,658

140,175109 63849, 27245, 77119, 07038,40113, 66342,002

5,471

' 1,26273

'1,028'42'62

'1896

5621

110

59

118

604

15'608

12714, 757

8761,1584,893

1091,852

525100316

28281407212813

44206

5,8781,952

23,1994,424

6663,7581 7462,598

13,1275,9773,0072,6841 459

858446

81233

496283

604,44543 278

137,073424 094257,965

22,80911 30259,846

164,008

532,08940,608

148 804117 143

53 37250,10421, 05942 22114,40644,372

5,514

1,26264

'847' 4 8

50' 158

740125

13118

125

324

17'506

' 8 511, 609

5091,1504,468

971,057

215341313199276216

791,147

45483

3,8491,633

23, 2754, 435

6643,7711,7452,585

13,3586,0573,1392,6991,463

425

841134461245

729, 749194, 223128, 568406, 958268, 472

25, 49611, 52861, 255

170,193

524, 92541,314

142, 293116 689

53 07851,13421,81140 79114, 93542, 880

93

5,519

1,26857

' 8 8 5' 2 5' 3 5

' 1863

49' 1 4

665

14196

401

' 2 3' 5 4 8

' 9 1' 14,128

'330'361

' 6, 70132

2, 368212

1,01753

213773260263

1,13058

' 3 2 2' 4, 668' 2, 068

68726

427234

506, 38023, 862

118, 218364, 300248, 077

27, 71210, 49755, 554

154, 314

462, 42336, 030

124, 598102 98148 57542, 23318, 27737 65813, 65938, 412

' Revised.fRevised series. Data on commercial failures revised beginning June 1934; see table 3, pp. 17-18 of the December 1938 issue; further revisions beginning March 1939 not

shown above will appear in a subsequent issue. Data for insurance written, ordinary, (Life Insurance Sales Research Bureau), include a small amount of intermediate insur-ance beginning January 1939. Earlier data on a comparable basis will be shown in a subsequent issue.

J37 companies having 82 percent of total assets of all United States legal reserve companies.©40 companies having 82 percent of total life insurance outstanding in all United States legal reserve companies.


Monthly statistics through December 1937, to-gether with explanatory notes and references

[ to the sources of the data may be found in the1938 Supplement to the Survey

1939

August

1938


berDecem-

ber

1939

Janu-ary

Febru-ary- March April M a y June July

FINANCE—Continued

MONETARY STATISTICSForeign exchange rates:

Argentina ._ dol. per paper peso .Belgium dol. per belga..Brazi1 dol. per milreisBritish India dol. per rupeeCanada dol. per Canadian dol..Chile . _._dol. per peso _France - dol. per franc.Germany . - dol. per reichsmark .Italy dol. per liraJapan dol. per yen..Netherlands dol. per guilderSj)ain dol. per peseta.-Sweden dol. per kronaUnited Kingdom dol. per £Uruguay - dol. per peso

Gold:Monetary stock, U. S . mil. of dolMovement, foreign:

Net release from earmark^.---thous. of dol_.Exports . doImports - . . . do «.

Production:Union of South Africa, total fine ounces._

Witwatersrand (Rand) _. . do. .Receipts at mint, domestic (unrefined)..do

Currency in circulation, total mil. of dol__

Exports§ thous. of dol _Imports -- - doPrice at New York _ dol. per fine ozProduction world thous. of fine oz

Canada - __ . doMexico . doUnited States do

Stocks, refinery, end of month:United States- --doCanada __ - do

CORPORATION PROFITS(Quarterly)

Federal Reserve Bank of New York:Industrial corporations, total (167 cos.)

mil of dolAutos parts and accessories (28 cos.) doChemicals (13 cos ) doFnnri find beveraces (19 cos ) doMachinery and machine manufacturing

(17 cos ) - .mil. of dolMetals and mining (12 cos.) doPetroleum (12 cos) - doSteel (11 cos.) - -doMiscellaneous (55 cos.) - do

Telephones (91 cos.) (net op. income) .-doOther public utilities (net income) (52 cos.)

mil of dolInterstate Commerce Commission:

Railways class I (net income) doStandard Statistics Co., Inc. (earnings):

Combined index; unadjusted*! 1926=100Industrials (119 cos ) do'Riilroads (class l)*t doUtilities (13 cos ) do

Industrials (119 cos ) do

Utilities (13cos) - doPUBLIC FINANCE (FEDERAL)

Debt gross end of mo _mil. of dol .Public issues:

Interest bearing* - -doNoninterest bearing* do

Special issues to gov't agencies and trustfurds* mil. of dol

Obligations fully guaranteed by the U . S . Gov-ernment :d"

Amount outstanding by agencies, total.mil. of dol..

Federal Farm Mortgage Corporation_doHome Owners' Loan Corporation doReconstruction Finance Corporation.do

Expenditures, total, including recovery andrelief! - thous. of dol..

General (including recovery and relief)*tdoRevolving funds, net* doTransfers to trust accounts* doDebt retirements* do .

Receipts total! - - - - do __.Customs doInternal revenue do

Income taxes - doSocial security taxes* do._.

0.311.170.050

344.995.052.026.399

053.269

535.110

2404 611

607

16 390

152,12513

259,934

282,1307,098

9374 365

360

40, 891

36, 257540

4,094

5,5831,3792,858

820

822, 049745, 269

10, 67966,100

0419,980

27, 213397,42131,77797, 447

0.325.169.058.364.996.052.027.401.053.284.546.057.252

4.881.642

13,057

- 2 8 , 78517

165,990

1,046,338962, 757286. 493

6,482

4014,985.428

25,6192, 5289,2245,596

7,887488

37, 596

34,112541

2,943

5,0151,4102,888

511

682,823622, 58012,74347, 500

0487,487

28, 673362, 286

33, 97885, 736

0.320.169.059.358.994.052.027.400.053.280.539.052.248

4.804.632

13, 441

-13,25511

520, 907

1,035.341952, 602301, 593

6,570

1,46324, 098

.42820,0642,2024,4865,073

6,396552

61.8

24.219.9

4.11.5

10.7' 7 . 314.950.5

42.1

3.4

38.534.42.0

90.738.432 2

1.5104.8

38, 395

34, 920543

2,933

5,0091,4042,888

511

764,509696,11510,24944,50013,645

710,60328,590

682, 544487,132

2, 864

0.318.169.058.356.991.052.027.400.053.278.544.051.246

4.768.627

13,940

-110,17716

562, 382

1,041.394960, 561277, 500

6,668

1,25925, 072

.42820,1542,4004,1605,441

6,824611

38, 426

34, 950526

2,949

5,0011,3952,888

511

770,311716, 036

9,00343, 500

1, 772331,96530,797

315,06141,07881,508

0.314.169.059.352.992.052.026.400.053.274.543.051.243

4.708.620

14,162

- 7 , 37514

177, 782

1,024,057944, 035333, 027

6,750

82324, 987

.42816,1592,0232,7812,879

4,492633

38,607

34,981535

3,090

4,9931,3882,888

511

678, 588622,500

6,84248, 500

745381,64427, 338

304, 57235,91281, 979

0.311.168.059.349.991.052.026.401.053.272.544.050.241

4.670.615

14,416

- 6 2 , 38716

240, 542

1.028,774946, 895235, 337

6,888

1,34421, 533

.42819,5111,5524,9224,624

2,409698

187.078.438.120.4

5.64.14.7

10.325.456.5

54.1

53.7

76.769.331.9

123.076.279.029.2

113.2

39,439

35, 755528

3,156

4,9921,3882,888

509

870, 278809, 351

3,74248, 5008,685

704,49425,121

662,252473, 804

2,939

0.311.169.059.349.992.052.026.401.053.272.542.046.240

4.669.614

14, 599

14,10681

156,427

1,033,939953, 916233,806

6,712

1,67110, 328

.42819,1081,5754,2814,669

4,075676

39, 641

35,892534

3,215

4,9871,3832,888

509

693, 385649,573

4,68538,500

626308.15224,318

315,84550,76498, 992

0.312.169.059.350.995.052.026.401.053.273.5360).241

4.686.616

14, 778

- 4 8 , 55315

223, 296

985, 843910, 084195, 780

6,697

2,0549,927.428

21,8221,4546,7945, 268

4,806652

39, 864

35, 949533

3,382

5,4101,3812,888

819

662,464601,97110,36550,000

127417,34922, 361

333, 51856,872

125,870

0.312.168.059.351.996.052.026.401.053.273.5310).241

4.685.617

15,014

10, 72053

365, 436

1,073,084989, 974209,778

6,764

1,9237,207.428

20,0701,6374,9065,067

7,432615

153 369.531.715.8

6.22.14.56.2

17.356.4

54.5

<*43. 6

60.465.0

4 25 4124.762.468.7

d 19.8113.4

39, 990

35, 994543

3,454

5,4101,3812,888

819

879,300796,139

5,59968,0009,562

737,39129, 266

691, 401495.906

3.855

0.312.168.059.350.995.052.026.401.053.273.5310).241

4.681.616

15, 509

-114,842231

606,027

1,017,508938, 961227, 642

6,867

2,0547,143.428

17, 4691,4112,5155,336

8,669255

40,068

36,038538

3,492

5,4101,3802,888

819

786,517722,342

7,99255,0001,182

268, 34329, 437

279, 98738, 83269, 684

0. 312.170

349.996.052.026.401053

.273536

.110241

4 681616

15, 878

-251, 57936

429, 440

1,084,8591,000,181219,161

6,919

6116,152.428

18 1971,5594,5863,701

9,903167

r 40, 286

' 36, 089531

3,666

5,4091,3792,888

820

744, 899686,824

7,45150, 094

530396, 781

25, 318315, 03743,53393, 044

0.312.170

••. 051.349.998.052.026.401.053.273

532.110

2414.682

.616

16, 028

-102, 59619

240,450

1,058,989977, 752201,111

6,966

30314, 770

.420

1,766

5,493

4,935316

P62 .2P 7 0 . 0

v 116.2P 5 7 . 2*>62. 2<* 26.6

v 118.1

40,440

36,116554

3,770

5,4501,3792,928

820

972, 569886, 856

8,47456, 00421, 235

612, 52224,517

568, 646351,958

16, 252

0.312.170

'.051.349.998.052.026.401.053.273

533.110

2414 681.616

16,182

-166, 2129

278, 645

281,3177,051

6405,531.349

2,099

3,200

6,348250

40, 661

36,196548

3,918

5,4801,3792,958

820

807, 325639, 232

856167,103

134307, 846

25, 528300, 091

43. 23072, 754

'Revised. d Deficit. * Preliminary.1 Quotations not available January 25-May 14, 1939._

ncrease in earmarked gold (—). •Number of companies included varies slightly.2 Quotations not reported April 10, 1939, through June 8, 1939.

*New series. New items for Federal gross"debt beginning June 1916 appear in table 21, p. 16, and for Federal expenditures beginning July 1931 in table 22, p. 17, of theApril 1939 Survey. Data on receipts from social security taxes beginning June 1936 will appear in a subsequent issue.

tRevised series. The Standard Statistics Co. index of railroad earnings and the combined index have been revised beginning 1932; see table 25, p. 18, of the April 1939Survey. Total Federal expenditures and receipts revised beginning July 1931; see tables 22 and 23, p. 17, of the April 1939 Survey.

^Revised series. Data revised for 1937, see table 19, p. 14 of the April 1939 Survey.cPTotal includes $206 174 000 in guaranteed debentures of the Commodity Credit Corporation from May 1938 through July 1939 and $408,727,000 thereafter. Also in-

cluded is a small amount of guaranteed debentures of the Federal Housing Administrator, and in Feb. 1939, $114,146,000 for the U. S. Housing Authority which amount wasincreased to $114,157,000 beginning with Mar. 1939.

^General" and "recovery and relief" not reported separately by Treasury Department after June 1939.

October 1939 SUEVEY OF CURKENT BUSINESS 33


1939

August

1938


berDecem-

ber

1939

Janu-ary

Febru-ary March April M a y June July

FINANCE—Continued

PUBLIC FINANCE (FEDERAL)—Con'd.

Receipts, total—Continued.Internal revenue—Continued.

Taxes from:Admissions to theaters, etcthous. of dol..Capital stock transfers, etc doSales of radio sets, etc ..do

Government corporations and credit agencies:!Assets, other than interagency, total

mil. of dol..Loans and preferred stock, total do

Loans to financial institutions find, pre-ferred stock) mil. of dol--

Loans to railroads doHome and housing mortgage loans, .doFarm mortgage and other agricultural

loans. .mil. of dol..All other do

U. S. obligations direct and fully guaran-teed mil. of dol—

Business property doProperty held for sale... doAll other assets do

Liabilities, other than interagency, total, doBonds, notes, and debentures:

Guaranteed by the U. S doOther do

Other liabilities incl. reserves doPrivately owned interests doProprietary interests of the IT. S. Government

mil. of doL-Reconstruction Finance Corporation, loans out-

standing, end of month:fGrand total thous. of dol_.

Section 5 as amended, total doBanks and trust companies, including

receivers thous. of dol..Building and loan associations doInsurance companies doMortgage loan companies doRailroads, incl. receivers doAll other under Section 5 do

Emergency Relief and Construction Act,total, as amended thous. of dol..

Self-liquidating projects (including financ-ing repairs) thous. of dol..

Financing of exports of agricultural sur-pluses thous. of dol..

Financing of agricultural commoditiesand livestock thous. of dol..

Direct loans to business (incl. participa-tions) thous. of dol. .

Total Bank Conservation Act, as amendedthous. of dol-.

Drainage, levee, irrigation, etc.* doOther loans do

CAPITAL FLOTATIONS

New Security Registrations 1

(Securities and Exchange Commission)

New securities effectively registered under theSecurities Act of 1933, totaL thous. of dol

Estimated gross proceeds (total registration,less securities reserved for conversion),total thous. of d o l -

Type of security:Common stock __do_Preferred stock do.Certificates of participation, etc do.Secured bonds do.Debentures and short-term notes _ do

Type of registrant:Extractive industries doManufacturing industries doFinancial and investment doTransportation and communications ~ do. __~Electric light and power, gas, and water

thous. of dol. .Other do

Securities not presently intended to be offeredfor cash sale for account of registrants:

Registered for account of othersthous. of doL-

Registered for options and for other subse-quent issuance thous. of dol. .

Other securities not intended for cashsale thous. of doL.

Selling and distributing expenses:Commissions and discounts thous. of dolOther selling and distributing expenses

thous. of dol—

1,5131,124

402

1,771,219677,864

102,2473,4412,773

127,023438,837

3,543

61,576

40,835

19,

752

123,042568,51783,462

256,758

298,571

293,650

18,74911,028

0163,101100,172

2,74'33,4403,8944,548

217,14931,870

11,870

159

4,134

6,031

1,253

1,4252,052

400

11,3178,476

1,333491

2,340

3,491821

837438666901

7,129

5,0011,372

755374

3,815

1,689,212652, 527

129, 7062,1943,510

96, 287414,928

5,901

198, 309

187, 365

10,047

897

85,024

552, 40779,376

121, 569

394, 433

315,968

26, 4774,557

18,431169, 26:

97, 240

41738,31929,956

0

243, 4123,864

4,278

23,114

5

6,675

2,088

1,6691,021

345

11,3198,496

1,329495

2,335

837

843447667866

7,112

5,0101,365

737377

3,830

1,707,018661, 586

127, 4682,1263,481

103, 204419, 364

5,943

199,691

188,748

10, 047

91, 634

551, 26979,584

123, 254

125, 207

106,767

20,9327,697

23, 038350

54,750

6,34159, 68139,944

0

0800

5,992

56

169

5,412

881

1,188466

11,3598,507

1,327'502

2,330

3,494854

844451673883

7,075

5,0011,352

722379

3,905

1,735,100679,078

126,8842,0933,459

114, 741426, 046

5,855

205,913

190,152

15, 047

715

97, 945549,48479,663

123,017

411,878

405,063

14,4234,4388,179

267,093110,930

37757,22670, 787

0

275,1731,500

1, 673

0

45,311

8,293

2,016

1,9852,226

11,3358,502

1,321503

2,326

3,486865

845452679856

7,016

4,9941,323

700382

3,936

1,750,088689,533

124, 4272,0293,008

126, 416428,041

5,611

205,848

190,105

15, 047

103, 287

547, 46280,834

123,124

303, 280

249,989

51,52621, 44110, 35446, 86J

119,804

4,54831,98142, 5284,239

103, 21963,475

7,334

23,931

204

6,287

1,180

2,0201,754593

11,4518,562

1,344511

2,335

3,486

855456

7,048

4,9921,317739381

4,022

1,808, 504708,484

120, 778V" ~2,992

140,644436, 094

6,067

201, 604

180,862

20, 047

107, 412

585,10680,991124,907

144, 625

•140, 709

23,12418, 56612,96857,41316,061

8,28111,09636,639

0

82, 2802,414

10,215

0

4,387

681

1,5641,650576

11,5158,527

1,314512

2,329

902

460698961

7,117

4,9871,327757383

4,015

1,770,930

118,0671, 9592,964

100,280437, 7895,940

207,948

182,149

25, 047

752

109,039

579,38882, 276125, 280

139,672

139,075

5,92738,76222, 573

90070,913

5237,200

22, 3900

108, 512450

,135

0

4,013

904

1,5031,394404

11, 650<*8, 509

1,291508

2,327

3,460923

874465708

1,0957,588

5,410T

384

3,678

1,766,111664,107

116,1201,9212,915

101, 216436,139

5,79^

205, 598

181,814

23, 047

738

110,432

576,02382, 461

127,489

21,676

21, 366

9,6452,7073,8755,139

0

06,8216,6601,827

5,090969

971

420

3,615

1,190

215

1,6071,083353

11,6968,523

1,278505

2,324

3,456960

885468712

1,1087,592

5,4101,374808386

3,718

1,782,388 1,722,507674,555

113, 8731,9622,901

110, 587439, 560

5,673

204,811

181,028

23, 047

737

112, 048576,11782, 757132,100

69,242

12, 3931,7414,008

28, 48822, 613

28035, 7634,758

0

27, 506935

4,862

170

1,930

2,767

627

1,3851,259287

11,6888,497

1,292509

2,323

3,459913

849472712

1,1577,592

5,4101,379803387

3,709

683, 218

111, 0442,9622,871

117, 326443, 8405,175

131,389

107, 578

23, 047

764

112, 531

579, 77482, 966132,629

307,754

277, 657

47, 43827,9001,766

116,99183, 562

342146, 4506,2715,305

117,7121,577

11, 525

2,086

28, 379

1,443

1,6061,273279

11, 7038,511

1,297501

2,325

3,447941

850476713

1,1517,581

5,4101,382790

3,732

1,727,285677, 468

108,8343.0372,854

121,075436, 612

5, 056

134,496

108,995

24, 737

764

114,498580, 23883, 084137, 476

57, 062

55, 588

20, 47322, 2603,4069,449

0

2343,77917, 024

250

31, 6052,696

3,777

219

20, 365

2,128

235

1,491735258

11,7068,465

1,311493

2,331

3,438892

853481708

1,1997,651

5,4711,389791387

3,668

1,752, 928679, 278

104, 8723,3282,832

125, 372439.199

3,675

63, 708

39, 464

23, 480

764

117,079580, 88783,109228, 867

275, 409

271,720

29, 30712, 67510,586144,87274, 279

12, 28993, 09721,9413,921

124, 97115, 500

13,549

3,192

2,068

6,678

1,621

1,534813292

11,8238,861

1,299493

2,332

3,7311,007

871483709900

7,507

5,2911,349867390

3,926

1,775,788678,491

103,8573,2632,799

126,126438,863

3,583

62,164

40,119

21,290

755

121,804578,43183,359251,539

232, 712

227, 545

16,38548, 30510,75939,675

112,421

70288, 94224,16228, 834

82,9141,992

286

37,178

5,006

942

• The total includes $12,576,000 of face amount installment certificates.f Series differ from current presentation of the Securities and Exchange Commission, due to a classification of certain items, but data as shown here are comparable

nroughout. When earlier data are available on the new basis, they will be presented in the Survey.*New series. Data for drainage, levee, irrigation, and similar districts, beginning December 1933 not shown on p. 33 of the August 1939 Survey, will appear in a subse-

quent issue of the Survey; this series was formerly included with "Other loans."f Revised series. Data on Government corporations and credit agencies have been revised beginning June 1937 due to changes in the underlying U. S. Treasury Depart-

ment compilations and are not comparable with the series shown in the 1938 Supplement. Several new series on loans and other assets have been brought out, but no changesnave been made in the series on liabilities. Data not shown on p. 33 of the November 1938 Survey will appear in a subsequent issue. For Reconstruction Finance Corpora-tion loans outstanding, minor revisions beginning August 1934 will appear in a subsequent issue.



1939

August

1938


berDecen>

ber

1939

Janu-ary


FINANCE—Continued

CAPITAL FLOTATIONS-Cont'd

New Security Registrations—Cont'd 1

(Securities and Exchange Commltsiori)

Estimated gross proceeds (total registrationsless securities reserved for conversion)—Con.

Estimated cash proceeds to be used for:Total thous. of doL-

Organization development do.Purchase of:

Plant and equipment* do.Other assets. _ doSecurities for investment do.Securities for affiliation _do.

Increase of working capital. doRetirement of preferred stock doRepayment of bonds and notes doRepayment of other indebtedness. _doMiscellaneous do.

Securities Issued

(Commercial and Financial Chronicle)^

Securities issued, by type of security, total (newcapital and refunding) thous. of dol~

New capital, total doDomestic, total do

Corporate, total ..doBonds and notes:

Long term doShort term.. do

Preferred stocks .doCommon stocks do

Farm loan and other government agenciesthous. of dol._

Municipal, States, etc doForeign, total ..do

Corporate -. doGovernment .__ doUnited States possessions do

Refunding, total— doDomestic, total do

Corporate, total doBonds and notes:

Long term doShort term do

Preferred stocks doCommon stocks .-do

Farm loan and other Government agenciesthous.of doL.

Municipal, States, etc .doForeign, total . do

Corporate doGovernment doUnited States possessions do

Securities issued by type of corporate borrower,total ._ _ thous. of dol._

New capital, total _ doIndustrial doInvestment trusts, trading, and holding

companies, etc thous. of dol_.Land, buildings, etc... doPublic utilities doRailroads doShipping and miscellaneous do

Refunding, total doIndustrial doInvestment trusts, trading, and holding

companies, etc thous. of dol..Land, buildings, etc _doPublic utilities doRailroads «. doShipping and miscellaneous. do

(Bond Buyer)

State and municipal issues:Permanent Gong term) thous. of doL__Temporary (short term)— -do

COMMODITY MARKETS

Volume of trading In grain futures:Wheat _ mil. of bu_Corn.. do__

SECURITY MARKETSBrokers9 Balances (N. Y. S. E. members

carrying margin accounts)

Customers' debit balances (net)._.-mil.ofdol_.Cash on hand and in banks do.Money borrowed.. ...do.Customers' free credit balances do.

270,203124

9,441110

2,495123

6,4962,417

217,8181,807

29,372

458, 600112,12982,12925, 395

20,9031,4602,0101,021

056, 73430,000

030,000

0346,471329,971

289, 512500

8,73056.

18, 25012, 92316, 50016, 500

00

340, 69225, 39517,045

0250

1,930400

5,770315, 298

20,123

02, 505

248,6707,000

37,000

74,174154,629

637151

792202556235

279,80865

42,3300

27,24140

5,02913,819

175,81215,436

37

417,936182,286181,836127,014

123,3040

3,143567

054,822

45000

450235, 650235, 650211,141

211,141000

338,155127,01469, 550

0100

169, 38200

67,20253,684

764206

864200571272

94, 257490

50,306667

31, 654123

5,6250

1805,012

200

238,368146,033146,03384,937

83,0990

8201,018

8,40052,696

0000

92,33592,33565,136

64,9560

1800

13,50011,009

0000

5,60021, 599

0000

150,07384, 93780, 838

3,0001,350

49, 9653,148

0211,141

41, 659

0747

2,612740

065,13616,180

07,132

41,82400

89, 347

701139

823213559257

347,77090

10,1390

21, 7450

8,716447

270,49436,139

0

766,188166,908166, 90863,922

61,484300

1,950188

0102,986

0000

599, 280599, 280274, 237

273, 70600

531

322, 8622,181

0000

338,15963, 92240, 561

01,420

20, 4410

1,500274, 237

14, 458

0120

259, 65900

132,234154,875

380133

905196617270

211,052858

38,0170

38,375798

2,99718,16888,743

3623,060

395,808220,893195,893

43, 521

37,38540

1,3444,753

0152,37325,000

025,000

0174,914134,914107, 702

85, 2664,000

18, 4360

21, 7005,513

40, 0000

40, 0000

151,22343, 52118, 284

0240

21, 2850

3,712107, 70244, 656

00

63,04600

169, 73647,031

147

939189662252

125,4241,920

10,142180

27,6690

8,40010,49464, 5672,036

16

529,182241.001241,001

59, 544

43,9950

11,7523,798

55,000126,457

0000

288,181285, 556250, 493

239, 5200

10, 9740

20, 25014,8132,625

00

2,625

310,03859, 54448, 801

0394

6,4610

3,888250, 493

56, 404

0416

139,79546, 3787,500

128, 65443,764

325138

190754247

131,022291

1,9150

20,3990

1,67535, 52369,0582,161

0

277,339220, 531200,531

5,827

2,3002,600

0927

118,14676, 55720,000

020,000

056,80956,80910, 386

5,2005,000

0186

19, 25027,172

0000

16, 2135,8271,027

500630

1,1700

2,50010,3863,986

0850300

5,000250

104,96688, 656

300104

971192713235

14,956202

3,45313

2,4160

4,2390

3,3031,331

2

540,723377, 550377, 55023,571

16,7220

1,2785,571

310,090^43,890

0000

163,173163,173136,115

101,2860

34,8290

17,05010,008

0000

159, 68623,57120,171

0375

2,4750

550136,115

12

086

111,02912,000

1,500

' 60, 422170, 769

16871

967168709222

1,690

4,5343

1,965500

13,195191

36, 531267

10

239,929162,272162,27252,979

42,8090

9369,234

4,325104,968

0000

77,65874, 658

46,3660

200123

15, 02312, 9463,000

03,000

0

99, 66852, 97918, 572

00

4,20230,135

7146, 68915, 301

00

31, 38800

• 49,34592, 336

20281

953174699225

229, 546190

1,93624

3,6290

70,6051,034

147,4714,629

28

355,941142, 621142,17177,060

46, 5330

1,02029, 507

1,95063,161

45000

450213, 320160,820129, 249

105,9130

23,3360

20, 75010, 82052, 50052, 500

00

258,80977,06075, 981

5000

57900

181, 74960,175

12, 755720

106, 5001,600

0

77, 513105, 332

326106

831190579236

28,86525

21392

15,27846

3,643239

8,641561126

1,312,257116,873116,87321,240

17,9280

' 2,2201,092

1,55094,083

0000

1,195,3831,179,633

151, 002

126,1024,500

20,4000

1,021,4147,217

15, 75010, 500

5,2500

182, 74221,2403,987

0100403

1,50015, 250

161, 5022,000

0202

154,4004,900

0

'114,848110,110

721137

828183561230

244, 611857

7,46932

11,756194

22, 824100

187, 6485,0478,684

604, 380292, 576283, 326

30, 241

21,128450

5,5793,084

0253,085

9,2500

9,2500

311,804311,804251, 798

249, 4630

2,3360

20,95039,055

0000

282, 03930,24112,198

00

12, 6662,7002,677

251, 79879, 810

0830

160,1859,4381,536

206, 49065,820

556133

834178570

182,134335

10,4230

19,058898

10, 3674,562

122, 88113, 697

13

585, 732317, 525317, 525

49, 464

40,2900

4,9084,266

202, 55365, 508

0000

268, 207268, 207176, 523

128, 3659,000

39,158

74,05017, 634

0000

225,98749, 4649,864

01,186

25,89212, 435

88176, 52395,875

051

77,1220

3,475

132,909' 62,150

183

839183539238

' Revised.1 See footnote marked " 1 " on p. 33.• Includes reimbursement of corporate treasuries for capital expenditures.f Revised series. Data revised beginning January 1937; see table 26 on pp. 15 and 16 of the May 1939 Survey.

October 1939 SURVEY OF CUERENT BUSINESS 35


1939

August

1938


berDecem-

ber

1939

Janu-ary


FINANCE—Continued

SECURITY MARKETS—Continued

BondsPrices:

Average price of all listed bonds (N. Y. S. E.)dollars..

Domestic — doForeign do

Standard Statistics Co., Inc. (60 bonds)dol. per $100 bond._

Industrial (20 bonds) _.. d o . . . .Public utilities (20 bonds).._ do.__.Rails (20 bonds) do.___Domestic municipals (15 bonds) d o . . . .

U. S. Treasury bondsf. d o . . . .Sales (Securities and Exchange Commission):

Total on all exchanges:Market value thous. of dol. .Face value . . . . do_. . .

On New York Stock Exchange:Market value thous. of dol._Face value do

Sales on N. Y. S. E., exclusive of stoppedsales (N. Y. S. E.) par value:

Total . . thous. of dol. .U. S. Government d o . . . .Other than U. S. Government:

Total d o . . . .Domestic d o . . . .Foreign d o . —

Value, issues listed on N. Y. S. E.:Face value, all issues _ mil. of dol..

Domestic issues d o . . . .Foreign issues.... d o . . . .

Market value, all issues d o . . . .Domestic issues... . . . . d o . . . .Foreign issues do . . .

Yields:

^omesMc'municipals (20 bonds)...percent..Moody's:

Domestic (120 bonds) d o . . . .

Aaa (30bonds) . doAa(30bonds) .do . . .A (30 bonds) doBaa (30 bonds). . . . d o . . . ,

By groups:Industrials (40 bonds) d o . . .Public utilities (40 bonds) d o . . . .Rails (40 bonds) do

Standard Statistics Co., Inc.:Domestic municipals (15 bonds) . do

U. S. Treasury bondsf d o . . . .

Stocks

Cash dividend payments and rates (Moody's):Annual payments at current rates (600 com-

panies) mil. of dolNumber of shares, adjusted millions..Dividend rate per share (weighted average)

(600 cos.) . .dollars..Banks (21) doIndustrials (492 cos.) do . . .Insurance (21 cos.) doPublic utilities (30 cos.) d o . . .Rails (36 cos.) d o . . . .

Dividend declarations (N. Y. Times):Total . .- thous. of dol

Industrials and misc doRailroads _ . . .do . ._ .

Prices:Average price of all listed stocks (N. Y. S. E.)

Dec. 31, 1924=100Dow-Jones & Co., Inc.: (65 stocks)

dol. per shareIndustrials (30 stocks) d o . . . .Public utilities (15 Stocks) d o .Rails (20 stocks) do

New York Times (50 stocks).... Ido IIIndustrials (25 stocks). doRailroads (25 stocks) d o . . . .

Standard Statistics Co., Inc.:Combined index (420 stocks) 1926=100..

Industrials (350 stocks) d o .Capital goods (107 stocks)* d o . . . .Consumer's goods (194 stocks)* do

Public utilities (40 stocks) . . . . . d o . .Rails (30 s t ocks ) . - d o . . . .

Other Issues:Banks, N . Y . O. (19 stocks). d o . . . .Fire and Marine insurance (18 stocks)

d o . . . .Sales (Securities and Exchange Commission):

Total on all exchanges:Market value mil. of dolShares sold. thousands..

90.5994.0554.50

81.085.8

101.755.5

116.5108.2

122,908159, 770

89,189121,165

111, 3948,730

102,66485, 00117, 663

52, 20947, 6424,567

47, 29744, 8082,489

3.21

3.67

2.933.113.804.85

3.213.404.41

2.752.21

1, 422. 99935.03

1.523.011.422.391.94.90

310, 284296,16814,116

57.9

46.47137. 8825.6827.6799.44

178. 2120.68

86.3100.5121.596.987.025.4

54.0

88.2

76931, 762

89.4092.5359.89

81.385.798.160.0

115.2104.0

117,162161,552

93,667130,647

120,3636,161

114,20296,69217,510

49,42444,6764,748

44,18341,3392,844

2.88

4.09

3.183.574.135.49

3.433.765.09

2.822.51

1, 295. 20929.10

1.393.001.242.241.941.09

240, 965230,994

9,970

60.8

46.13140.9720.0128.4999.74

177. 5321.95

89.5108.0129.397.075.027.8

49.9

85.5

98840,515

89.0892.1059.72

78.784.296.355.7

111.7103.0

110,826148,992

92,923126,207

133,95417,163

116,79194,41722,374

50,33145,6494,682

44,83742,0412,796

2.98

4.17

3.213.604.205.65

3.503.825.18

3.022.58

1,293.92929.10

1.393.001.242.241.931.09

185, 428182, 735

2,693

60.6

43.98137. 0418.4925.6295.68

171. 7019.68

86.0103.9126.194.072.225.5

46.7

82.8

94340,542

90.6793.7061.20

81.886.898.659.9

115.2104.3

166,812237,245

133,469195,775

185,1797,673

177,506155,69821,808

50,22545,5464,679

45, 53942,6752,864

2.90

4.03

3.153.534.085.36

3.433.734.94

2.822.48

1, 293. 59929.10

1.393.001.242.241.931.09

180, 506169,90110,605

65.4

49.64150. 3622.9230.62

106.81189.6923.95

91.1109.6136.798.777.428.1

51.0

87.0

1,57367,924

90.3493.3361.02

82.186.999.360.2

116.6104.0

139, 760207,719

107,389169,415

155,8684,419

151,449130,13321,316

50,30145,6404,661

45,44242,5972,844

2.83

3.95

3.103.464.025.23

3.393.654.83

2.742.50

1, 328.16929.10

1.433.001.292.241.941.05

509,160486, 396

22, 765

64.1

50.32151. 9623.3531.29

105.29186.9923.59

94.7113.6142.6102.180.930.0

49.6

87.4

1,30653, 496

91.2794.3560.11

81.186.098.758.6

116.5104.1

146,188259,364

116,550221,469

217,6096,535

211,074185,52825,546

51,55446,9204,634

47,05344,2682,785

2.78

3.95

3.083.424.025.27

3.403.634.82

2.752.49

1, 315.04935. 03

1.413.011.282.311.92.85

247,569229,916

17, 653

66.2

49.32150.1221.9430.52

105. 36186. 9923.74

92.0110.6139.498.577.928.8

47.7

85.3

1,22552,913

91.0394.2558.55

81.986.299.759.7

117.3104.4

157,278224,622

119,160178,731

159,6117,581

152,030131,49020,540

51,58746,9334,654

46,95844,2332,725

2.76

3.86

3.013.323.975.12

3.313.574.70

2.702.47

1, 316. 25935. 03

1.413.011.282.311.91.90

194,118181, 480

12, 638

62.6

49.13146.8723.3031.20

102. 73181.8223.64

91.8109.3136.497.881.229.8

50.0

86.1

1,12947,393

91.8595.0159.68

82.186.4

100.759.0

117.3104.8

126,687166,855

86,903121,222

118,9934,871

114,12296,72217,400

51,46646,8624,604

47,27144,5242,748

2.80

3.81

3.003.263.945.05

3.293.524.63

2.702.44

1, 329.91935.03

1.423.011.302.311.91.90

303,839289, 412

14, 427

64.4

48.68144. 6024.9430.31

102. 22181. 2123.24

90.1106.3130.996.583.828.0

51.1

85.7

65526,057

91.8094.9958.43

83.187.1

101.360.9

117.9106.0

179,440245,123

137,021195,394

185,51311,889

173,624139,90933,715

52,67048,0714,599

48,35245,6652,687

2.72

3.74

2.993.223.874.89

3.293.484.46

2.672.34

1,334.15935.03

1.433.011.302.311.92.90

186,095182, 522

3,573

57.0

48.99145.0624.8431.07

100. 59178. 0123.18

91.7108.0133.398.785.829.7

53.5

87.0

1,05840,384

91.5694.8357.40

79.483.899.754.5

116.4106.6

119,057165,925

92,210133,554

122,8047,459

115,34593,39621.949

52,56447,9754,589

48,12845,4932,634

2.78

3.84

3.023.223.975.15

3.353.514.66

2.752.30

1, 337. 76935.03

1.433.011.312.331.92.90

154,076147,635

6,440

56.6

42.68127. 7322.0525.7590.46

161. 5119.41

81.995.9

115.488.780.024.8

50.4

81.0

88242,614

92.9296.0959.73

80.284.8

101.054.8

118.1108.3

125,737167,691

93,060130,243

123,1047,390

115,71498,42317,291

52,64748,0564,591

48,92146,1792,742

2.66

3.78

2.973.163.925.07

3.303.454.60

2. 662.17

1,339. 27935.03

1.433.011.312.331.92.90

377, 394358,417

18, 976

60.2

44.43132. 5623.0527.0294.19

167. 7320.67

83.197.0

115.591.582.425.0

53.7

84.3

60323,131

92.0895.3457.79

81.486.2

101.656.2

118.6109.1

127, 703169, 641

91, 785129, 260

126, 5706,821

119, 749102,189

17, 560

52, 75148,1664,585

48. 57145,9212,649

2.66

3.71

2.923.133.864.91

3.233.424.47

2.632.13

1,382.43935. 03

1.483.011.372.391.94.90

220,175200. 698

19, 477

57.0

45.66136. 52

23. 6627.5996.95

173.1220.79

86.0100.5120.095.484.725.9

55.2

89.3

55621, 916

93.1596.4658.46

81.686.3

102.156.4

118.3108.9

121,420162,425

87,837123,949

119,4315,137

114,294100,62213,672

52,61048,0324,57849,00746,3312,676

2.67

3.66

2.893.073.834.84

3.173.394.42

2.652.16

1,391.46935.03

1.493.011.382.391.94.87

181,033167,16713,866

62.2

46.82139.2624.9628.2999.74

178.0321.45

86.1100.6120.996.284.925.7

55.0

89.8

77430,892

•New series For data beginning 1926 see table 24, p. 18, of the April 1939 Survey.fRevised series. Revised data for U. S. Treasury bond prices beginning 1931, and U. S. Treasury bond yields beginning 1919, appear in tables 17 and 18, p. 18, of the

March 1939 Survey.



1939

August

1938


berDecem-

ber

1939

Janu-ary


FINANCE—Continued

SECURITY MARKETS-Continued

Stocks—C ontinued

Sales (S. E. C.)—Continued.Total, on all exchanges—Continued.

On New York Stock Exchange:Market value mil. of dolShares sold thousands- -

Exclusive of odd lot and stopped sales(N. Y. Times) thousands

Shares listed, N. Y. S. E.:Market value, alllisted shares....mil. of dol..Number of shares listed milions..

Yields:Moody's, common stocks (200) percent..

Banks (15 stocks) doIndustrials (125 stocks) do _Insurance (10 stocks) _ . . doPublic utilities (25 stocks) , . doRails (25 stocks) do

Standard Statistics Co., Inc., preferred stocks:Industrials, high-grade (20 stocks)-.percent-

Stockholders (Common Stock)American Tel & Tel Co total number

Foreign doPennsylvania Railroad Co., total do

Foreign doU. S Steel Corporation, total . do

Fore i en doShares held by brokers percent of total

66924, 554

17,372

41, 6531,430

4.54.64.24.35.54.1

4.92

89132,151

20,723

43, 5261,425

3.8.4.93.34.06.24.4

5.07

85032,035

23,826

43, 5271,425

3.85.03.24.16.24.5

5.08

648,0567,180

216,8472,928

171,1983,09623.65

1,39754,625

41, 561

47,0021,426

3.64.83.03.95.73.9

4.99

1,15741, 923

27,923

46, 0811,427

3.85.03.33.95.93.6

4.92

1,06539,954

27,490

47,4911,424

3.6.4.83.14.15.72.9

4.94

646,6717,173

214,5322,874

168, 3993,08424.89

98637,051

25,186

44,8841,425

3.84.83.44.15.63.5

4.94

56119, 538

13,877

46, 2711,426

3.74.63.34.05.33.2

4.94

91631,150

24, 565

40,9211,427

4.24.83.84.35.83.9

4.92

645,0337,153

213,1432,853

167, 6502,99824.78

77933, 775

20,247

40, 6731,427

4.24.83.94.45.74.0

4.99

52317,897

12,933

43,2301,427

4.04.43.74.15.43.7

4 94

47416, 050

11,967

41, 0051,429

4.44 54.14.25.74.1

4.87

642 2937,104

212,3582 832

169, 0793 28825.54

67724, 519

18,066

44, 7621,430

4.14 43.84.05.23.5

4.88

FOREIGN TRADE

INDEXESExports:

Total value, unadjusted 1923-25=100-Total value, adjusted do...

U. S. merchandise, unadjusted:Quantity do...Value do_._Unit value _do-._

Imports:Total value, unadjusted do._.Total value, adjusted do

Imports for consumption, unadjusted:Quantity 1923-25=100.Value doUnit value _do._.

Exports of agricultural products, quantity:Total:

Unadjusted 1910-14=100.Adjusted do...

Total, excluding cotton:Unadjusted do...Adjusted ..do...

6672

1086762

5457

1025655

5163

6970

250, 839

8,37643, 36012,126

113,95422, 2696,8683,027

47. 43443,16242, 33220,1204,606

21,8674,6755,1351,818

248,14836, 49911,86924, 3298, 384

15, 9457,1994,0365. 465

53, 504133, 81714, 8938, 746

43, fill175, 756

5,70254, 33913,171

6166

966164

5153

1025453

6176

101102

230, 621

7,27140, 57913, 607

102,9958,381

10, 2703,621

41,43239, 54538,82920, 0344,136

20,1964,3184,2222,072

228,14343,78910, 68935,82622,16413, 6627,5193,1509,064

35,615112,91212, 2999, 572

39, 461165, 540

5,85144, 39410,103

6562

1026564

5255

1025453

7166

8781

246, 321

7,89045,10719, 806

112, 70211,23512,0574,132

50, 73736, 75236,17021,1564,465

22, 7555,9444,8491,913

243, 62159, 60520,51131,39114, 25417,13710, 3653.9444,038

40,159112,46514,1718,370

36, 626167, 651

3,79946, 89911,839

7360

1167463

5554

1045654

8362

10187

277,928

10, 30850,99019, 502

127, 71012,32210,1665,385

56,14042,97141,89523, 2854,501

22, 6646,0345,3822,123

274, 31972,13224, 05633, 29012, 50920,78113, 2534,1104,030

44, 454124, 443

17, 3039,085

38, 653177,979

5,08149,13111,678

6658

1076763

5555

995454

8162

9083

252, 231

9,76748, 49419,104

110,19213, 7888,6205,091

43, 23838,99238, 51321,4735,239

23, 3146,7965,1431,741

249, 69459, 86725,01629, 47412,04517,42910,1164,1134,473

39,955120, 39925,4178,516

34,550176,181

4,06956, 03314, 053

7167

1117164

5354

995253

6854

8478

268, 756

13,18561,59128, 528

112, 67211,1348,3175,141

46,82529,06728,45823, 7055,829

28, 5387,7366,7492,139

266,17149, 37619,04828, 42211,17017, 25210, 0004,2044,588

50,499137,87429,16112, 29240, 908

171,474

4,14552,13012,020

5655

915662

5555

1005353

6861

9998

212,908

8,07542,44517, 69295, 83010,8186,3954,381

42, 46227,06126, 68420, 8015,581

18, 6953,1144,9681,736

210, 25836,39114,97531,05116, 44314, 6087,2274,5968,201

35,452107, 365

21, 3967,449

31,217178, 201

3,74151,81811, 285

5863

925863

4949

894854

6166

8795

218, 559

8,52346,40617,48495,44510, 6535,1763,889

38, 67826, 25825, 76420,4535,928

21,4724,0675,1201,480

216,03636,48513, 73226, 55311,40215,1516,4044,1457,403

34, 868118,12825,3356,367

34, 605158, 035

6,47942, 7807,896

7070

1137163

5953

1126054

6869

9292

268, 364

11,56060, 56523, 573

108,14312,6146,4465,056

41,87433,09232, 29827, 5987,991

27,4075,2816,6642,188

264,57840,07216,95827,96612, 28715,6797,0174,7246,406

45, 658150, 88228, 5048,378

49, 390190, 437

6,96459,9529,707

6164

986162

5853

1075854

4755

7278

230,947

10,10149, 24316,14788,80912,4684,8064,130

34,31135, 05534, 53523,4626,320

24, 2774,0686,0071,479

227, 59726,0169,185

23, 6219,810

13,8116,6563,6985,459

41,008136,95124,921

6,81343, 882

186,195

8,57151,16210, 607

6670

1076662

6361

1116155

5262

9195

249,259

8,53054,16521,39497,95512,9446,2944,460

37,41043, 58342, 63722,3566,296

22, 6694,9185,4171,621

245,91330,2437,458

26,92710,80816,1195,8444,8517,601

48, 247140, 49523, 75310,11944,401

202, 502

8,64059,45410,747

6270

1016362

5558

1025655

3546

5663

236, 058

9,99649, 97114,76985, 71110,8075,2994,263

36,60440, 45239, 87423. 3587,922

26,5716,1135,1932,651

233, 35925, 7136,157

19, 5216,026

13, 4953,5234, 9974,079

48,462139,66420, 3879, 453

42,191178, 953

4, 46957, 08011,237

VALUE§

Exports, incl. reexports thous. of dol_.By grand divisions and countries:

Africa ..doAsia and Oceania do

Japan doEurope do

France __.doGermany doItaly ...doUnited Kingdom do

North America, northern doCanada do

North America, southern doMexico -do

South America __.doArgentina _ doBrazil doChile .-do

By economic classes (U. S. mdse. only):Total thous. of dol__

Crude materials ..doCotton, unmanufactured do

Foodstuffs, total doFoodstuffs, crude doFoodstuffs and beverages, mfrs doFruits and preparations doMeats and fats. doWheat and flour do

Manufactures, semi- doManufactures, finished do.

Autos and parts -doGasoline __.doMachinery do

General imports, total doBy grand divisions and countries:

Africa doAsia and Oceania do

Japan do^Revised series. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.

6162

5257

5355

3651

60

229, 628

10, 27043, 86612, 55187, 78714, 8945,4063,721

33, 45241.00840, 07421, 8505,565

24, 8476,2686,2421,596

226, 73729, 6675,970

19, 7194,671

15,0484, 4235,2213,837

45, 994131,357

18, 5207,628

43, 654168, 925

4,49753,0408,716



1939

August

1938


berDecem-

ber

1939

Janu-ary


FOREIGN TRADE—Continued

VALUE—Continued §

General imports—Continued.By grand divisions and countries—Continued.

Europe _ thous. of doL.France doGermany doItaly . . . d o - . .United Kingdom do

North America, northern doCanada. do

North America, southern doMexico do

South America doArgentina doBrazil do....Chile do....

By economic classes (imports for consump-tion):

Total. thous. of dol.Crude materials. doFoodstuffs, crude do....Foodstuffs and beverages, mfrs doManufactures, semi- doManufactures, finished do

48,1505,7083,7972,080

10,99026,68125,97018,4903,534

22,3944.7878,2811,691

180,37960,96220,77827,60535,65135,383

49, 3664,3575,6272,824

10,14323,89923,33421, 3293,295

20, 7012,8357,4321,571

171, 05349,49821, 66327,82935, 03037,033

52,1505,3975,7943,170

10,44524,18623, 50017,9242,440

22,6933,8828,8201,681

172,94752,37720,47328,63933, 59137,868

58, 7145,9927,2894,520

13,80127,04926, 24916,1833,134

21,8213,6318,5361,648

178,46053, 70821,12027, 24035, 75340,639

54,6235,1916,9233,656

12,89825,83925, 23212, 5663,084

23,0513,5669,1501,567

171,65252,35523, 78822,99535,17237, 342

53,6095,5866,2563,397

12,25124, 30023, 55412, 7534,748

24,5384,2529,1912,457

165, 52253,46523, 09320,88735, 26532,812

51,2734,7035,2313,266

11, 33126,13625,22217,9245,429

27,3096,6338,4203,277

169, 32353,89026, 77416, 63837,15834,864

47, 7225,2344,9302,669

10,99520,30220,12918,6505,270

22,1026,0867,6672,272

152, 52848,07322,94718,63534,04728,827

52,2985,6925,1713,976

11,97123,55923,12822, 7326,326

24,9325,4609,4212,583

191, 22659,50728,20526, 29638,82238,396

57, 5745,411

13,8293,289

11, 57226,16325, 67119,4064,442

23, 3194,3577,8673,813

185,80054,94024,05325,03637,93643,836

58,9467,1222,8853,289

15,19228,85028,32322,1783,995

24,4344,3557,4202,750

194,19362, 27725,88626,06239,85740,411

46,0094,9033,3492,711

11, 66426,96426, 53319, 2994,365

25,1323,9529,1602,468

178,40554,72522. 51827, 72538, 63334, 804

44,4965,1463,9752,26411,08126,99325, 55718, 5303,627

21, 3703,2076,6571,822

170, 45150,04121, 75927, 79936, 91233, 939

TRANSPORTATION AND COMMUNICATIONS

TRANSPORTATION

Express Operations

Operating revenue... thous. of doL.Operating income. do

Electric Street Railways

Fares, average, cash rate _..cents..Passengers carried J thousands..Operating revenues _ thous. of dol..

Class I Steam Railways

Freight-carloadings (Federal Reserve):Combined index, unadjusted. __ 1923-25=100. _

Coal doCoke. doForest products... doGrains and grain products doLivestock doMerchandise, 1. c. 1 doOre doMiscellaneous _do

Combined index, adjusted doCoal .doCoke .doForest products ..doGrains and grain products.- doLivestock doMerchandise, 1. c. 1_ doOre do.Miscellaneous do.

Freight-carloadings (A. A. R.):1Total cars - thousands..

Coal. __do_Coke _do_Forest products do.Grains and grain products do.Livestock. _ do_Merchandise, 1. c. 1 do.Ore do.MiscelJaneous do.

Freight-car surplus, total do.Box cars do.Coal cars do.

Financial operations:Operating revenues, total thous. of doL.

Freight doPassenger do

Operating expenses doNet railway operating income .doNet income doOperating results:

Freight carried 1 mile mil. of tons..Revenue per ton-mile _ cents.Passengers carried 1 mile. millions.

Waterway TrafficCanals:

Cape Cod. thous. of short tons..New York State doPanama, total thous. of long tons..

In U. 8. vessels do

7,864722,987

71695744903762

12575707869427537626774

47627

12617048

615192

1,0341317034

344,400276,707

39,821247,62254,586

414687

2,385971

8,409123

7.889700, 569

51,132

63563841

10137616368626346408437603467

2,392382

1812019149

59898

93622910092

315,335253,578' 36,294229,573>-45, 422

1,097

25, 2361.0031,976

* Deficit.

263697

2,172810

r Revised.

9,497115

729, 66352,229

717149438350647278646851407439614169

2,553468

2212014863

604106

1,0221698649

322, 595261, 303

34, 427232,040

50, 3626,277

29,110.977

1,825

278480

1,998779

9,404127

7.889789,695

56, 582

50429544624872

3, 542668

31159221102799141

1,4221446842

353, 441293, 762

31,459242. 409

24, 068

32, 757.977

1,662

328684

2,360

9,240131

7.889775,461

55,274

707658397653624176697058408144617474

2,530511

2610913769

59465

1,0181758551

319,682264,135

30, 211231, 257

49, 6657,422

28,4711.0041,564

327845

5,224789

11,338920

7.888838, 707

60,028

53438341619274

2,949664

3513116367

70844

1,13822110671

318, 336251, 320

37,913232, 704

49, 37322, 225

28,133.981

1,928

3480

2,374807 I

8,58671

7.88890,12056,869

63766437714059226569675542794162

10276

2,302515

3010312953

56133

87821810667

305,769246,803

34, 785232, 946

32,891* 8, 721

28,152.964

1,790

3420

2,393753

72

7.873737,164

53,361

627662356431602264676546367038629375

2,297529

3099

11642

57734

870209102

276,904224, 819

30, 237220, 619

18, 591* 24,364

25,553.972

1,555

3260

2,207

9,10776

7.873835,136

59, 702

636657366732622170666255367340628673

2,390478

2910512542

61233

9672029567

315,091257, 469

31, 201240, 359

34, 317* 10, 505

28,831.988

1,618

3170

2,664873

9,16567

7.864788,941

56, 628

583647396837623172604356387640617570

2,832350

2914015961

77558

1,261265

86146

282,118224, 588

31, 791227, 622

15,257d 27,896

23, 9831.0351,681

1012,473

892

9,45459

7.864811, 584

58, 222

624440417336618173625142408140615870

2,3722971912113749612121

1,0162119087

302, 618243, 641

31, 758237, 411

25,101d 18, 594

25, 7371.0451,725

363735

2,539921

7.864763,038

55, 383

67584742893061

10874676851409036616471

3,14950328

151202

50744209

1,2611757965

321, 617255. 763

38! 436241, 78639,095

d 1, 685

28, 465.987

2,075

396586

2,437905

7.710,

51,

2,

332,265

41,241,49

6,

29

864186907

70645243

1113461

11274697662438039625972

549429

24118200

44583167983166

7953

436086269962012578

824

369538

2,318806

IData for October, December 1938, April and June 1939 are for 5 weeks; other months, 4 weeks.JFor comparable monthly figures, January 1929-December 1936, see table 10, p. 15 of the March 1939 Survey. Data shown in that table beginning January 1937 have been

revised; see p. 37 of the April 1939 Survey.§Revised series. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.



1939

August

1938

August Sep-tember October ber

Decem-ber

1939

Janu-ary April May June July

TRANSPORTATION AND COMMUNICATIONS—Continued

TRANSPORTATION—Continued

Waterway Traffic—Continued

Canals—ContinuedSt. Lawrence thous. of short tons..Sault St. Marie. „ doSuez. .- thous. of metric tons..Welland _thous. of short tons..

Eivers:Allegheny doMississippi (Government barges only)..doMonongahela doOhio (Pittsburgh district) do

Clearances, vessels in foreign trade:Total, U. S. ports thous. of net tons

Foreign... doUnited States do

Travel

Operations on scheduled airlines:Passenger-miles flown thous. of miles..Passengers carried number..Express. _ pounds..Miles flown thous. of miles..

Hotels:Average sale per occupied room dollars..Kooms occupied percent of total..Restaurant sales index 1929=100..

Foreign travel:Arrivals, U. S. citizens number..Departures, U. S. citizens.. doEmigrants doImmigrants _ doPassports issued ...do

National Parks:Visitors doAutomobiles do

Pullman Co.:*Revenue passenger-miles thousands..Passenger revenues _ thous. of dol_.

COMMUNICATIONS

Telephone:Operating revenues thous. of dol. _

Station revenues doTolls, message. do

Operating expenses doNet operating income _ do . . .Phones in service end of month thousands..

Telegraph, cable, and radiotelegraph carriers:Operating revenue, total thous. of dol .

Telegraph carriers, total doWestern Union Telegraph Co., revenues

from cable operations thous. of dol..Cable carriers doRadiotelegraph carriers _ do

Operating expenses doOperating income doNet income do

1,28410, 552

1,713

234233

1,9491,411

75,145194, 418933, 965

7,639

3.396193

7,444

875, 682238, 296

1,2156,2372,4821,588

263256

1,279

6,9585,2081,749

56,405143,488623,7706,360

3.2957

56,90651,6462,2867,3579,059

811,309226,096

683, 5934,409

96, 48262, 02925, 98466, 23917. 26117, 373

11,0929,524

485791777

9,935431

'408

1,2966,6242,2481,786

223224

1,422967

6,5164,8161,700

54,806139, 297877, 5646,151

3.286185

58,02731,8482,2278,2265,138

428, 827125,436

715, 5294,555

96, 72562, 85025, 42867, 03016, 79117, 465

11,5509,851

586

953199

1,4297,1412,4602,030

249190

1,5951.055

5,7694,1031,666

56,828143.993855,1516,302

3.3265

31,71019,9312,0818,8255,122

236,77171,416

651,8514,239

99, 60865,10525, 92967, 63418, 63717, 528

11,1569,491

569861804

9,903558

«* 356

1,0654,4662,2701,652

244215

1,710991

5,6784,0371,641

46,090113, 621685,3895,776

3.476094

15, 64916,1032,1576,844

77, 75023, 783

585, 2893,912

98, 53164, 89724, 95967, 43418,94617, 593

10, 7519,114

522830807

9,99169

'774

5323

2,422181

180171

1,7981,074

5,0623,8131,249

41, 59499,119761,0905,665

3.2654

16, 61418,7652,6638,0425,184

57,67716,798

687,3694,488

101,55266,18826, 59169, 44418,83517,704

12,40810, 553

570976879

10, 7561,041291

00

2,1660

175183

1,5681,003

4,6703,5391,132

38,40389,002577,9825,453

3.2164

19, 55624,3072,3445,6615,927

74,83420, 587

793,2295,263

99, 23465,81524, 73167, 28118, 52717, 735

10, 5498,829

527856864

9,81615

'884

00

2,2770

135124

1,557

4,7343,6071,127

35,00281,131564,9285,032

3.2863

25,59028,2241,479

4,865

62,84817, 618

654,8964,473

96,06464, 50422,95464.15518, 43817, 808

9,9878,436

463756795

9,319<*17'934

00

2,5610

199136

1,7421,114

5,4244,1601,263

49,445117,071685, 2746,125

3.156483

31,90921,6731,7028,076

72, 28021,779

715,4204,769

101,61066, 49126, 49868, 45619, 47917,897

11, 5779,717

588901960

10,031814

(*)

5043

2,569200

101169348469

5,2804,0381,242

53,483133,469663,884

3.3763100

25,37421, 5751,8517,0638,839

164,73648,892

684.4444,447

100,08366,16225,27565, 68320,57617,974

11,012

502768861

9,809512

'387

1,1895,7992,4761,324

13667661655

6,2414,7661,475

63,361162,682725,0617,122

3.206390

19,80019,0112,0776,04916,080

248,07573,402

631,5294,147

102,64666,87527,10168,98319,83218,055

11, 73510,065

514790880

10,289699'229

1,1618,6222,2201,580

230145

1,6881,265

6,6674,9711,696

70,199179, 055824, 6307,183

3.3462

20,88924, 7883,1684,51221, 013

471, 624136, 576

769, 8194,842

102,11966, 52126,92368,18420,02718,072

11, 72110,113

501774834

10,14288643

1,119

1,659

242'1911,7041,400

7,0825,2801,802

72,918185,643725,9227,541

3.295785

10, 393

916,175249,905

801, 5144,990

99,82464,69026, 38367, 73818, 39818,102

10, 6769,189

451707780

10, 028'77'951

CHEMICALS AND ALLIED PRODUCTS

CHEMICALS

Alcohol, denatured:Consumption thous. of wine gal..Production _ .doStocks, end of month ..do

Alcohol, ethyl:Production thous. of proof gal..Stocks, warehoused, end of month doWithdrawn for denaturing.. doWithdrawn, tax paid do

Methanol:Exports, reflned§. .gallons..Price, refined, wholesale (N. Y.).dol. per gal-Production*

Crude (wood distilled) _. thous. of gal..Synthetic do

Explosives, shipments thous. of lb._Sulphur production (quarterly):

Louisiana long tons..Texas do

Sulphuric acid (fertilizer manufactures):Consumed in production of fertilizer

short tons..Price, wholesale, 66°, at works

dol. per short ton..Production short tons..Purchases:

From fertilizer manufacturers ..doFrom others _. do

Shipments:To fertilizer manufacturers doToothers do

9,2029,1902,007

18,53932,91916,0501,780

28,373

32,700

16.50

••7,6677,846

r 1,423

r 17,42135,17614, 4831,590

7,743

2821,898

27, 663

128, 312

16.50131,106

30, 38825,097

27. 42233, 462

9,1249,1811,466

15, 80032, 73616, 0721,639

22,716.36

3031,930

30, 443

72, 520472, 986

126, 974

16.50133, 266

38, 53118, 560

26, 03234, 973

11,18811,1011,364

17,01728, 31918, 9862,111

8,431.36

3352,29532,151

151,083

16.50161, 285

40, 28421. 564

28, 97140, 904

10, 30910,1951,233

15.16423, 27717, 2492,439

12, 648.36

3442,618

29, 385

147, 592

16.50171,106

31,18218, 494

37, 75238, 447

10, 4335,5001 285

16, 77220, 89517, 3891,841

25,990.36

3572,84428,415

68, 900478, 774

148,289

16.50176,923

20,60427, 515

33,08040,915

6,7206,8281,379

17,06724, 43311,3271,691

24, 355.36

3522,46329,258

142, 451

16.50181, 386

20, 41822, 343

38,08540,850

6,5676,4541,260

14, 67126,07211,1981,350

26,359.36

3362.26726, 592

138, 273

16.50169,769

18, 75123, 778

39,16735, 545

7,5787,6161,294

17,42327, 74113,2021,851

10, 806.36

3652,407

27, 801

83, 260405, 263

119,081

16.50169,952

11,95117, 508

35,10042, 864

7,5237,7191,485

17, 85929, 62513, 2532,076

24,195.36

3892,276

26, 341

112, 593

16.50145, 689

15,02116, 542

33, 20235, 528

8,2038,4901,766

18,65531,07815,0322,009

18,441.36

3541,779

29, 315

16.50155,902

8,85320, 771

38,12338,835

7,9448,1661,982

16,82730,86015,0291,858

108,084

3442,295

30, 210

105, 895357, 819

106,137

16.50140, 580

10, 53525, 614

43, 369

7,3957,4372,015

17,64332, 23213,8231,765

195,034

3782,495

27,652

104, 378

16.50139,248

18, 63517,067

25,80445, 376

r Revised. ' Deficit. a Less than $500.•New series. Data for Pullman Co. revenue passenger miles beginning 1915 and passenger revenues beginn In ? 1013 are given In table 7, p. 13, of the January 1939 Survey.^Revised series. Data revised for 1937; see table 19, p. 14, of the April 1939 Survey.



1939

August

1938


berDecem-

ber

1939

Janu-ary


CHEMICALS AND ALLIED PRODUCTS—Continued

FERTILIZERSConsumption, Southern States

thous. of short tons..Exports, total§ long tons_.

Nitrogenous§ ..do.Phosphate materials§ do.Prepared fertilizers! - __do.

Imports, total§ _ _do-Nitrogenous, total§_ _ do.

Nitrate of soda§ doPhosphates§ doPotash§ do__-

Price, wholesale, nitrate of soda, 95 percent(N. Y.) ... -dol.percwt

Potash deliveries* short tons..Superphosphate (bulk):

Production short tonsShipments to consumers do..Stocks, end of month do_.

NAVAL STORESRosin, gum:

Price, wholesale "H" (Savannah)dol. perbbl. (280 lbs.)-

. Receipts, net, 3 ports bbl. (500 lbs.)~Stocks, 3 ports, end of month do

Turpentine, gum, spirits of:Price, wholesale (Savannah) dol. per gal_.Receipts, net, 3 ports bbl. (50 gal.)..Stocks, 3 ports, end of month do.

OILS, FATS, AND BYPRODUCTSAnimal Fats and Byproducts and Fish

Oils (Quarterly)Animal fats:

Consumption, factory thous. of lb__Production do.Stocks, end of quarter do.

Greases:Consumption, factory. do.Production do.Stocks, end of quarter do.

Shortenings and compounds:Production _do.Stocks, end of quarter _ do.

Fish oils:Consumption, factory _ .do.Production,.. do.Stocks, end of quarter ».do.

Vegetable Oils and ProductsVegetable oils, total:

Consumption, crude, factory (quarterly)mil. of lb_

Exports thous. of lb.Imports, totals do. .

Paint oils§ _do—All other vegetable oils§ .._.dO-_.

Production (quarterly) mil. of lb.Stocks, end of quarter:

Crude do...Refined . do

Copra:Consumption, factory (quarterly)

short tons.Imports doStocks, end of quarter do

Coconut or copra oil:Consumption, factory:

Crude (quarterly) ..thous. of lb_.Refined (quarterly) ..do

In oleomargarine do[mportsS _ doProduction (quarterly):

Crude doRefinpd do

Stocks, end of quarter:Crude doRefined do

Cottonseed:Consumption (crush)...thous. of short tons._Receipts at mills ._ do .Stocks at mills, end of month do

Cottonseed cake and meal:Exports short tons..Production doStocks at mills, end of month do

Cottonseed oil, crude:Production thous. of lb._Stocks, end of month do

Cottonseed oil, refined:Consumption, factory (quarterly) do

In oleomargarine-. . .. doPrice, summer, yellow, prime (N. Y.)

dol. per lb..Production .thous. of lb._Stocks, end of month _ do..

43141,17126, 618106, 607

34976,00245,7959,481408

29,087

1.45038,956

5.0557, 640672, 880

.2613, 754102, 285

3,86586,41310, 29276,121

3,773

1,76332,898

151227196

67568, 22997, 085

45, 35562,000

.05554, 666

494, 718

44146, 63627, 504108, 665

16979,65248, 97724,4501,82727,908

1.45045. 957

283,01521, 340

1,057,215

4.48121, 505475,130

.2329,480116,859

1,82484,63611,85072,786

17,927

7,28222,052

223'261'374

1,727100,451217,693

••67,779••45,904

.081'53,414410,492

137116,82824,04787,824

369131,40775,84920,8298,27642,407

1.45047,169

279, 381108,4701,160,299

4.14119,818542,161

.2131, 745130,897

238,802395, 795296,157

48, 65679, 78756,400

411,94945,270

51,95097, 753206,906

3,02780, 42411,30369,121

580

714494

54, 08320,09244,953

154, 32777, 3658,71132.579

82, 506

184,34213,001

5761,2741,069

3,745256, 390259,659

178,632111, 708

350,99010, 246

.07892, 352397, 382

121134,92920,27193,058

261158,14082, 57632,9719,33764,124

1.45072,299

314, 35946,980

1,249,272

5.1287,935588,870

.2217,670128,334

3,79890,1899,37280,817

23,105

8,42026,824

6651,1551,559

2,200294,408295, 380

203, 74e151,570

10, 3S1

.076181, 768446, 739

146147, 58720, 207123, 339

413116,29850, 2314,8516,04658, 730

1.450

326, 79417, 717

1,322,306

4.8997, 664660,252

.2918,364134,460

2,20494,98215,41479,568

15,437

7,02339, 792

630631

1,560

1,235284,458313,538

195,809168,457

10, 807

.074162, 361503, 890

217133, 29525,119101,186

72149, 79878,12432,3363,42166,897

1.450101,438

343, 20417,147

1,361,127

4.3448,095678, 731

.2810, 593133,921

222, 460505, 816312, 725

44,48087, 25361,276

370, 75955, 662

71,664102,193256,352

9972,656

92, 61310, 52582,089

977

870

58,41426. 74536, 525

150,92278, 5737,204

34, 725

73,68582, 743

202, 30713, 332

534327

1,353

4,468237.933313,348

163,035175, 377

301, 39810, 577

.074143,823563, 794

43685, 54211,31771,045

83141,898118,15963,854

90320,186

1.4502,489

322,21129, 340

1,298,883

4.9020, 473657. 839

'.252,390

123, 584

2,81591, 69211,41480, 278

20,967

7,24423,101

451152

1,054

407205,49*289,286

145,077178,203

9,884

.071138,022609,950

62785,09515, 64566, 552

340109,932101,39654, 552

9696,795

1.4502,632

312,28454,893

1,288,536

5.2113, 757

642,825

'.261,908

118,954

4,13685,4668,169

77, 298

17,491

5,29529,122

36795782

189169, 766245. 221

116,438180, 666

9,412

.067110, 492633, 329

1,476123, 6876,723

97,983476

138, 782116,80642,9203,59917, 235

1.4505,250

301,694161, 2021,106,679

5.6519,367609,502

'.293,256

109, 626

233,456501,165346,321

48,18286,41954,170

354,69251,163

66, 51247, 713242, 725

9523,99498,01010, 70887, 302

832

760

59, 47322, 63035,816

154,40864, 9574,72941, 370

75,45775,064

20?, 32213, 735

136518

389188,051196, 544

129, 265177,466

285,2309, 678

.069131,956642, 463

1,271136,3285,365

123,270343

191,057167, 558115,1881,46216,580

1.4508,379

286, 747216,671815, 911

4.8643,810615, 381

'.249,799

107,339

4,20260,45512,13648, 319

11, 643

3,428

25673

336

506115, 729177,134

84,753164, 945

7,584

.06698, 803658, 332

312148,09512,142

112, 773302

145,43299,07462, 0107,03310,415

1.4508,674

277,437139,648778, 758

4.9457,079625,138

'.2414,638104, 759

4,31497,2759,38287,894

20,880

2,96438,450

19958194

8193,845173, 019

68, 322137, 785

6,781

82,011639, 328

136, 01612, 655105, 934

268109, 73790, 54159, 332

59416, 425

1,45017, 337

243,40234, 263871,109

4.9661, 774639, 914

'.2415,884102,941

217,899,

503,947403,80947, 43892, 96454,943

300, 07655,350

66,138

180,364

8163,67391, 63310, 75580,878

593

732759

52,11412, 51436,081

137,89153,0742,12937, 556

68,213

226,89412, 315

45140

12443, 272151, 259

32,81788,828

272. 9706,708

.06578, 683

614, 470

48154,8008,067

137, 446447

90,10245, 63218,4792,321

41, 234

1.45026,632

243,35613,496924,045

5.1961,096659,878

'.2414, 692102,126

2,55979,4679,84169,625

19,928

1,55921, 215

7252120

4634,293120, 794

23, 69173,353

5,522

.06141, 519558,855

' Revised.* New series. Data are on basis of potassium oxide content; figures beginning 1928 not shown on p. 39 of the August 1939 Survey will appear in a subsequent issue.§ Revised series. Data for 1937 revised; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.



1939

August

1938


berDecem-

ber

1939

Janu-ary


CHEMICALS AND ALLIED PRODUCTS—Continued

OILS, FATS AND BYPRODUCTS-Con.

Vegetable Oils and Products—Continued

Flaxseed:Imports§ _thous. of bu_.Minneapolis:

Receipts doShipments _ doStocks do

Duluth:Receipts doShipments doStocks do

Oil mills (quarterly):Consumption doStocks, end of quarter do

Price, wholesale, No. 1 (Mpls)—dol. per bu_.Production (crop est.)--- thous. of bu_.

Linseed cake and meal:Exports! doShipments from Minneapolis. do

Linseed oil:Consumption, factory (quarterly) doPrice, wholesale (N. Y.) dol. perlb..Production (quarterly) thous. of lb_.Shipments from Minneapolis doStocks at factory, end of quarter. do

Oleomargarine:Consumption (tax-paid withdrawals)..doPrice, wholesale, standard, uncolored (Chi-

cago) . dol. per lb_.Production .thous. oflb..

Vegetable shortenings:Price, wholesale, tierces (Chi.) dol. per lb_.

PAINT SALES

Plastic paints, cold water paints, and calci-mines:

Plastic paints.— thous. of dol_.Cold water paints:

In dry form. doIn paste form do

Calcimines doPaints, varnish, lacquer, and fillers:

Total — doClassifled, total... _ do_...

Industrial. doTrade do....

Unclassified _do

CELLULOSE PLASTIC PRODUCTS

Nitro-eellulose, sheets, rods, and tubes:Consumption* thous. oflb..Production doShipmentscf do

Cellulose-acetate sheets, rods, and tubes:Consumption* thous. of lb..Production ..doShipmentsc? -do

Moulding composition:*Production doShipments^. .do

EOOFING

Asphalt prepared roofing, shipments:Total thous. of squares..

Grit roll do....Shingles (all types) doSmooth roll do

1,511

8,100389

2,659

801144659

1.54•17,246

50,16316,400

8,100

21, 206

.13521, 608

46

154287255

33,08723,4139,309

14,1049,674

3261,0691,065

71,041

815

1,034967

1,288

1,961221795

357128253

1.73

28, 6925,776

.084

" I , " 436

28,371

.15828,718

.108

44

159244242

28,82119. 7477,249

12.4999,074

282977

1,017

7546530

548484

3,212900

1,0751,237

1,346

1,28676

1,499

416670

5,0433,019

1.79

41, 57711, 679

80, 736.084

98, 4078,263

113,012

32,000

.15532, 387

.103

42

162219282

29, 76920,114

7,87912, 2359.655

296974

592616

860 .759 !

4,0121,1301,2651,617

1,381

45087

1,416

241324

1.84

44, 74611, 670

.087

"6," 867"

31,824

.15331,092

.100

47

156253245

28. 77329, 4868,48112,0068.287

3161,0511,124

10945

1,048

1,044989

4,0951,0621,4011,632

1,565

205152732

152620152

1.84

47, 3027,913

.083

4,771

29,812

.15030, 221

34

115190226

25, 28018, 3678,3979.9706,914

2281,0181,008

141,3321,251

1,031956

2,583630836

1,117

1,474

13680637

18

112

7,2062.3891.90

/ 8,171

51,8209,760

72, 419.086

139,1063,209

141, 785

29, 991

.14330, 373

30

113169222

20,51515,0367.4177,6195,478

246789937

71.1121,032

758671

2,076515527

1,035

2,111

10747524

(02

110

50, 7348,320

.085

3,960

30,350

.14030,319

.093

32

126211235

24, 22917,8288,1809.6486.401

242923956

6896856

725

1,439359358721

2,248

3830452

10

111

1.92

50,1805,720

.085

"§,"966'

27,774

.14027,701

.091

33

144219251

24, 41517. 3957.9829,4137,021

2571,049977

9989

1,014

871770

1,410374391645

2,031

6264319

18229

7,1122,5211.97

17, 2197,920

76,674.088

139, 2097,200

161, 251

29,032

.14029,417

.095

187316

31, 55523,0039.62613. 3778,551

3421,3151,171

141.0781,029

810

2,910692891

1,327

1,416

3558283

1292

1.89

50, 3968,280

9,780

23, 622

.14023, 325

.093

210317282

32, 66623, 8309, 46914, 3608,836

2871,116950

12508522

736600

3,289785

1,1501,355

1,155

6138280

0)

40, 8497,280

6,480

22, 827

.13522, 699

.093

230338305

40,13828. 5469,61118, 93511, 592

2491,036940

10491509

704

2,714720

1,057

1,802

7320225

4159

6,2071,9581.81

48, 7337,000

91, 360.093

124, 8236,360

130, 310

20, 745

.13521,111

.090

206309281

36,88626,1979,78116,41610, 690

297957

1,000

446378

795703

2,887831

1,058

1,123

6728231

0)582

1.57

44, 5896,360

"""."090

~~5~ 8*80

20,114

.13519, 262

.090

44

156227206

29,47220, 7698,199

12. 5698,703

221979847

6561537

645604

2,633737926970

ELECTRIC POWER AND GAS

ELECTRIC POWERProduction, totalt mil. of kw.-hr__

By source:Fuel _ .doWater power. do

By type of producer:Privately and municipally owned public

utilities mil. of kw.-hr..Other producers do

Sales to ultimate consumers, totalf (EdisonElectric Institute).. mil. of kw.-hr..

Residential or domestic ..doCommercial and industrial doPublic street and highway ltg doOther public authorities doSales to railroads and railways. _ doInterdepartmental - do

11, 230

7,7033,527

10, 329901

10, 246

6,4023,845

9, 586661

8, 0931,5275,773

144199413

36

9,898

6,3773,520

9,238660

8,1901,6115,786

15619440737

10, 270

6,8683,402

9,615655

1,6385,835

178196449

38

10, 303

6,7603,543

9,660643

8,4751,7235, 849

19719447934

10,882

6,9763,906

10, 205677

8,7791,8435,940

206205547

10, 641

6,8993,742

9,965676

8,8061,9875.850

192203531

42

9,654

5,8283,826

9,043611

8,3241,8155,615

166194493

42

10, 567

6,1164, 450

9,900667

1,7195,751

15920252441

9,955

5,5624,393

9,321634

8,2401,7005,704

134192473

39

10, 341

6,1764,165

9,686655

8,2821,6045,867

121193461

36

10, 529

6,7433,786

9,820709

8,5771,6276,169

111194441

35

10, 651

' 7,179' 3,472

9,846'804

8,5831,6206,187

115197433

32

' Revised. 1 Less than 500 bushels. • September 1 estimate. / December 1 estimate.*New series. For data on nitro-cellulose consumption, cellulose-acetate consumption, and molding compositions beginning 1935, see table 15, p. 18 of the March 1939 Survey.tFor electric power sales, see note marked with a "t" on p. 41 of the July 1939 Survey.§Revised series. Data for 1937 revised; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.cf Includes consumption in reporting company plants. ^Excludes consumption in reporting company plants.|For electric power production, see note marked with a " 1 " on p. 41 of the July 1939 Survey. Revised data on production "by type of producer," referred to therein, are

shown beginning June 1938 on p. 40 of the August 1939 Survey; data beginning 1920 will be published when available.



1939

August

1938


berDecem-

ber

1939

Janu-ary


ELECTRIC POWER AND GAS—Continued

ELECTRIC POWER—Continued

Revenues from sales to ultimate consumers(Edison Electric Institute) thous. of doL.

GAS§

Manufactured gas:Customers, total thousands,.

Domestic doHouse heating doIndustrial and commercial do

Sales to consumers mil. of cu. ft..Domestic doHouse heating doIndustrial and commercial do

Revenue from sales to consumersthous. of dol__

Domestic doHouse heating doIndustrial and commercial.- do____

Natural gas:Customers, total thousands.

Domestic doIndustrial and commercial do

Sales to consumers .mil. of cu. ft__Domestic do_Indl., coml., and elec. generation do

Revenues from sales to consumersthous. of do!

Domestic do...Indl., coml., and elec. generation do

182, 380

9,862S,212

180460

23,84214, 642

25,89419, 884

5895,312

6,9736,486

48579, 48714, 37363, 756

24,08211,88511, 990

185,948

9,9479, 284

196458

26,32516,466

8988,803

28, 38321, 804

8195,652

7,0216,531

48884,37815, 51367,466

25,21612, 27912, 737

188,019

9,9369,264

212450

29,18017, 6552,1479,179

30,57322, 869

1,6565,919

7,0826,571

50992,95819,48572,102

29,02414,85313, 974

192,178

9,9269,241

220456

30, 45916,0414,8479,365

21, 8072,7906,151

7,1946,637

554107,53629,13577,633

36,22620, 28015, 801

198, 991

9, 9479,254

227458

34, 60016,1968,3069,853

33, 31021, 9234,7636,478

7,2206, 655

563126,093

42, 88181, 704

45, 61927, 75117, 630

201,330

9,201212465

34, 76117, 2118,1019,250

33,73422,125

5,1966,292

7,1566,603

550129,39849,17778, 736

50,27932,14117,899

190, 219

9,9149,225

219461

33, 66216, 6878,0048,785

32,81121,038

5,4296,227

7,1636,615

546134, 515

51, 29181, 770

51,19732, 61918, 331

186, 714

9,9079,218

210467

33, 60016, 6477,1229,641

32,45021,0544,9026,368

7,1946,636

555127,377

46, 79179, 303

47, 97930, 21817, 520

185, £

9,8949,197

218467

32, 62616, 2426,074

10,144

31, 58621, 252

3,8406,368

7,1786,626

549113,379

36, 51075, 465

41,03424, 84515,958

183,112

9,285224466

30,30315,7554,4219,969

30,70721,8452,5196,231

7,1906,655

533101,438

27,41572, 581

34, 64419,87314,550

186,166

9,9799,290

214465

27, 91716,6001,5879, 606

29, 56122, 253

1, 2325,990

7,1636,650

51087, 41318, 86267, 378

28, 55915,19713,193

186,600

9, 9959, 316

202466

25, 65215,541

9489,007

27,66221,105

7885,683

7,1526,651

49986, 37616,01369, 210

26,23513,01113,035

FOODSTUFFS AND TOBACCO

ALCOHOLIC BEVERAGES

Fermented malt liquors:Production thous. of bbl_.Tax-paid withdrawals ..doStocks .. ,.do

Distilled spirits;Production thous. of tax gaL.Tax-paid withdrawals doImports* thous. of proof gaL_Stocks thous. of tax gal._

Whisky:Production doTax-paid withdrawals .doImports*- thous. of proof gal_.Stocks thous. of tax gaL.

Rectified spirits and wines, production, totalthous. of proof gal..

Whisky* doIndicated consumption for beverage purposes'

Allspirits*t thous. of proof gaL.Whisky*t do. . . .

Still wines:Production* thous. of wine gal__Tax-paid withdrawals* doImports* doStocks* do

Sparkling wines:Production* doTax-paid withdrawals* doImports* .doStocks* do

DAIRY PRODUCTSButter:

Consumption, apparentf thous. of lb._Price, wholesale 92-score (N. Y.)

dol. per lb_.Production, creamery (factory)f.thous. of lb__Receipts, 5 markets} doStocks, cold storage, creamery, end of month

thous. of lb__Cheese:

Consumption, apparentf do.Imports do.Price, wholesale, No. 1 Amer. (N. Y.)

dol. per lb__Production, total (factory)t--._.thous. of lb._

American whole milkj —- do_Receipts, 5 markets doStocks, cold storage, end of month do

American whole milk do.Condensed and evaporated milk:

Exports:Condensed (sweetened) thous. of lb_.Evaporated (unsweetened) do.

Prices, wholesale (N. Y.):Condensed (sweetened) dol. per case..Evaporated (unsweetened) do.

5,4505,7158,836

6,3906,663

710518,487

4,3925,098

612475, 371

152

156, 967

.24164,960

69, 674

173,093

61, 9233,435

.1565,92052, 42014, 579

124, 885103, 604

1941,976

5.002.90

' 5, 351' 5, 757' 8, 555

' 6,1085,672

641496,061

4,217r 4,225

555469,500

2,7721,879

'7, 467'5,903

2,3824,229

14594,716

231416

664

139,097

.26167,07589,250

201, 252

' 56,6524,042

.14' 68, 615' 54, 560

14, 718150,248127,862

801,922

5.002.90

4,3134,4288,242

9,2947,503924

495,163

4,9975,845818

468, 480

3,5042,710

'9,910'8,306

28,1985,123181

99,166

182335659

140, 216

.26149,91478,843

210,703

68,2004,445

.1354,40042, 79116, 345

140, 755121, 423

2792,380

5.002.90

3,5954,1347,570

18,92310, 2001,200

495,003

8,1198,1531,046

466, 376

4,4803,689

' 12,950••11,328

92,4326,843322

127,066

184060636

152,408

.26136,13264,457

194, 285

69, 2037,018

.1553,87741, 26715, 764

132, 326115, 351

3562,335

5.002.90

3,7313,7747,367

22,14711, 7381,381

501,207

10, 5629,5591,215

466,176

5,3624,445

'15,038'13,351

73, 5787,215406

137,224

2654

150,912

.27116,04250,495

159, 254

52,0885,925

.1441,40730,25110, 537

127,440109, 738

2592,034

5.002.90

3,5373,6697,081

16,9569,7141,691

505,670

10, 7807,6651,459

4,7743,898

'13,118'11,425

24,1548,644476

128,047

3778138554

153,152

121, 79053,269

128,872

50, 4284,083

.1538, 72827,89910,998120,174102, 563

3552,198

5.002.90

3,6423,1037,467

11,8296,248667

510,194

9,1935,007571

470, 251

2,9732,375

'8,192

5,0085,033247

122, 601

151623548

145.603

.26128, 30355,705

111, 354

56,7024,001

.1439,16828,17110,753

106, 41190,401

1041,522

5.002.90

3,4823,0317,774

10, 7026,112676

513,453

8,735' 4,995

582472,783

2,6832,192

'7,743'6,816

1,6785,018194

117,094

1119546

139, 535

.26121,06553,955

92,780

57,1014,425

.1437,99227,17511,49291,48577, 270

912,007

5.002.90

4,4893,8168,265

13,0198,566831

516,755

6,791706

472,143

3,8173,078

'10,771'9, 357

1,0265,883292

111, 357

251322558

153,186

.24139, 33160,091

78,909

62,3564,881

.1447,77534,28111,96081,65368,812

3061,785

5.002.90

4,6363,9858,746

10,8767,601776

519,158

8,4435,728678

477,135

3,6702,800

'9,775'8,122

1,0035,157310

105, 776

431326587

153,009

.23145,12359,385

70,909

64,7013,927

.1454,60041,14511,15775, 34562,866

1421,710

5.002.90

5,6505,079

10, 7436,868845

521,773

7,9714,866730

479, 271

3,4252,496

'9,137'7,142

1,1034,994229

100,933

701737

179,419

.24193,70177,966

84,437

77,6874,353

.1477,30060, 64014,40279,27264,750

1482,508

5.00 .2.90 I

6,2305,6229,442

8,3506,456772

522, 040

5,7824,885666

478, 875

2,9601,977

8,6996,767

6774,682207

94, 861

372336647

152,631

.24200,13584,566

131, 609

70,6603,781

.1586,17068, 32014, 32298, 85081, 262

1951,799

5.002.90

5,6375,5389,330

5,3815,605632

520,429

3,7114,343534

477,149

2,9302,014

6,7746,131

9144,247154

91,048

192020

145, 701

.24179, 27577, 460

165,183

55, 9783,134

.1573, 40058, 40013, 786117,598' 97,448

2152,338

5.002.90

'Revised.§See note marked with a " t" on p. 41 of the June 1939 Survey.*New series. Earlier data for the new series on alcoholic bevei. .. srages appear in tables 2-8, pp. 15-18 of the July 1939 Survey.fRevised series. For 1937 revisions in consumption and production of butter, consumption of cheese, and production of American cheese, see p. 41 of the December 1938

Issue. Total production of cheese has been revised beginning 1920 to exclude cottage, pot, and baker's cheese; revisions not shown on p. 41 of the December 1938 Survey willappear in a subsequent issue. Total indicated consumption for beverage purposes of all spirits and whiskey revised in entirety; exports should not have been deductedfrom the tables as stated in footnote 1, table 6, p. 17 of the July 1939 Survey; revisions not shown above will appear in a subsequent issue.

JFor comparable monthly figures beginning 1919, see table 14, p. 17, of the March 1939 Survey.



1939

August

1938


berDecem-

ber

1939

Janu-ary

Febru-ary March April May- June July

FOODSTUFFS AND TOBACCO—Continued

DAIRY PRODUCTS—Continued

Condensed and evaporated milk—Continued.Production :f

Condensed (sweetened):Bulk goods _..thous. of lb .Case goods da . - .

E vaporated (unsweetened) do - _ _Stocks, manufacturers' end of month:

Condensed (sweetened):Bulk goods thous. oflb.Case goods d o . . .

Evaporated (unsweetened), case goodsthous. of lb .

Fluid milk:Consumption in oleomargarine d o . . .Price, dealers', standard grade*.dol. per 100 lb.Production (Minneapolis and St. Paul)

thous. of lb_Receipts:

Boston (incl. cream) thous. of qt .Greater New York (milk only) do . . .

Powdered milk:Exports§ thous. of lb_Production^ do . . .Stocks, mfrs., end of mo.$ do . . .

FRUITS AND VEGETABLES

Apples:Production (crop estimate) thous. of bu_.Shipments, carlot no. of carloads..Stocks, cold storage, end of month

thous. of bbl__Citrus fruits, carlot shipments-.no. of carloads..Onions, carlot shipments doPotatoes, white:

Price, wholesale (N. Y.) dol. per 100 lb. .Production (crop estimate) thous. of bu._Shipments, carlot no. of carloads _.

GRAINS AND GRAIN PRODUCTS

Exports, principal grains, incl. flour and meal§thous. of bu.-

Barley:Exports, including malt doPrices, wholesale, No. 2 (Mpls.):

Straight dol. per bu_.Malting do . . . .

Production (crop estimate) thous. of bu._Receipts, principal markets doStocks, commercial, end of mo do

Corn:Exports, including meal doGrindings doPrices, wholesale:

No. 3, yellow (Kansas City)...dol. per bu_.No. 3, white (Chicago) doWeighted average, 5 markets, all grades*

dol. per bu._Production (crop estimate) mil. of bu..Receipts, principal markets thous. of bu...Shipments, principal markets doStocks, commercial, end of mo do

Oats:Exports, including oatmeal doPrice, wholesale, No. 3, white (Chicago)

dol. perbu..Production (crop estimate) mil. of bu_.Receipts, principal markets thous. of bu..Stocks, commercial, end of mo do.

Rice:Exports^ pockets (1001b.)..Imports§ do__Price, wholesale, head, clean (New Orleans)

dol. perlb. .Production (crop estimate) thous. of bu_.Southern States (La., Tex., Ark., and Tenn.):

Receipts, rough, at millsthous. of bbl. (162 1b.)-

Shipments from mills, milled ricethous. of pockets (100 lb.)..

Stocks, domestic, rough and cleaned (interms of cleaned rice) end of month

thous. of pockets (1001b.)..California:

Receipts, domestic rough bags (1001b.)__Shipments from mills, milled rice doStocks, rough and cleaned (in terms of

cleaned rice), end of mo...bags (100 lb.)_.Rye:

Exports, including flour thous. of bu._Price, wholesale, No. 2 (Mpls.)._dol. per bu..Production (crop estimate) thous. of bu..Receipts, principal markets doStocks, commercial, end of mo.. ..do

16,8172,461

194,162

10, 9868,001

355,071

r,4, 3152.12

79832, 67618,227

952

09,1561,653

1.295'364,

7,617

10, 830

713

.46

.48264,16320, 06216, 904

1,1215,899

.47(

.47• 2, 523

9,88012, 07714,192

61

.30•930

18, 62514, 681

216, 07270,691

.033• 50, 766

390

972

486, 207174,422

389,027

0.42

• 40,8343,4559,246

14, 7523,238

188,507

20,1199,932

419,142

5,4832.22

29, 659

17,727127, 352

1,03627, 350

'56,030

1,177

010,1981,447

.770

9,244

28,323

2,744

.47

.56

16, 81715,096

12, 6746,079

0.55

.53

17,41918. 06110, 489

1,349

.24

24, 66920, 597

309, 89650, 561

.034

485

611

854

269, 219135, 853

177,142

58.41

6,7856,825

14,1783,210

146, 679

17, 7779,278

398, 287

6,2162.22

25, 320

12, 291115,943

78626, 87052, 602

5,817

2,8939,7723,244

.931

14, 493

15, 749

1,954

.53

.56

12, 33517,025

7,8986,564

.53

.52

17, 2409,942

256

.27

10,12822, 026

215,91446, 483

.034

1,625

839

' 1, 803

260, 721118, 298

179,446

283.41

3,4527,761

14,6843,050

122, 885

15, 2488, 521

344,316

6,2472.23

26, 377

14, 936120,748

75125,09541,204

13,194

10,09012,8002,996

1.100

15,056

12, 545

1,749

.50

.54

10, 52218, 924

4,1196,915

.44

.45

.45

45,15718, 99423, 081

650

.25

7,70722, 609

351, 82639, 355

.033

3,191

1,437

3,568

477, 536161,184

301, 531

307.41

2,1998,340

11,2963,529

100,723

11,7017,854

284, 375

5,8382.23

26,700

15,327118,582

67320, 41937,194

7,365

10,27214, 3992,355

1.095

12, 564

15,111

736

.50

.56

5,76416,187

6,0326,547

.47

.46

32, 69816,35646, 645

1,405

.26

4,19917, 676

223, 53434, 816

.033

1,458

1, 158

3,983

444, 297182, 438

382, 460

21.40

9498,102

11,9223,210

119,614

9,2357,139

205,073

5,8302.23

32,002

14,342118,277

54921,53233, 259

131,8826,738

8,73618,8002,100

1.456371,61712, 356

11,495

649

.52

.57252,139

5,84615,015

3,7296,724

.48

.54

.50/ 2, 54220, 26210, 96952, 644

147

.29/ 1. 054

5, 65816,919

298, 93539, 991

.033/ 52, 303

'912

'977

' 3, 983

212, 534136, 365

366, 012

().43

/ 55, 0391,248

12,8473,421

129,452

8,5366,101

150, 311

5,8562.23

36,421

13, 988123,868

47325,00632, 860

5,595

6,90318,7262,433

1.595

17, 406

20,385

.54

6,67013, 752

7,0506,340

.51

14, 3738,827

50, 889

353

.31

6,22115, 545

306, 89146, 344

.033

-•891

r 1,250

3,695

262, 200129, 003

393, 811

0.46

9428,126

11,5053,036

137,882

7,2024,985

120,397

5,4222.21

34, 829

12, 681112,501

51922,89032,318

4,776

5,07918,4002,139

1.519

17,196

15, 521

724

.55

.55

3,84612, 253

2,7215,256

.46

.51

.47

10, 2165,398

49,181

130

.304,304

14, 958

302, 30241, 296

.033

' 1, 064

3,586

169,184118,478

375,056

).45

5117,724

15,4083,075

181,094

5,8094,959

109,882

5,8612.20

40,237

13,906125, 570

68928,23330, 972

4,844

3,04622, 827

2,356

1.375

25, 210

15,435

436

.54

.56

5,96710,182

3,7985,780

.46

.51

13, 0858,473

43, 741

114

.31

5, 76912, 622

302,10267, 608

.033

' 545

3,244

229, 760143, 617

350, 435

).43

1,2417,630

15,4203,283

202,090

6,1354,608

134,625

4,5612.15

39,031

13, 322121, 682

31,19032,102

3,025

1,56920,395

3,071

1.800

18, 863

11,368

124

.51

.57

4,5798,874

1,6635,798

).53

12, 5628,656

39, 262

112

.32

4,46110,312

274,89390,116

.033

' 4 2 8

'802

' 2, 894

160, 345136, 287

301, 497

(a).43

7957,153

22,0072,899

262, 957

7,9106,437

209, 044

4,4982.11

44,144

14,648132, 670

1,06938,87731,982

2,041

55517, 5893,376

1.680

22, 759

16, 372

614

.55

.56

4,4745,745

1,2076,510

).55

.52

23, 33320,17034, 568

61

.34

6,3036,784

283,34184,857

.033

' 6 8 1

' 1,024

2,595

203,447144,414

264, 633

(•).51

1,0456,813

21, 0592,755

265, 586

11,4167,764

292, 393

4,1122.10

41,873

13, 897134, 712

73938, 57225, 861

976

016, 3772,133

1.575

23, 912

6,600

206

.53

.60

3,7916,210

2675,945

17, 38117, 04230, 880

93

.34

4,5405,695

241, 75575, 647

.033

' 9 1 2

2,092

197,33297, 767

258, 494

1,9557,384

16, 6152,894

223, 953

12, 5048,570

341, 686

3,8702.10

34, 051

14, 947129,851

637'29,079

27, 613

1,007

010, 8601,096

1,813

11,437

8,389

265

.45

.47

4,8238,253

4,310

(<0.51

.46

11, 86412, 75923,145

101

.29

6,6735,551

220,31583, 257

.033

' 180

'758

1,552

270,965130,025

268, 269

(a).43

1,4707,708

/ December I estimate.



1939

August

1938


berDecem-

ber

1939Janu-

aryFebru-

ary March April M a y June July


GRAINS AND GRAIN PRODUCTS—Continued

Wheat:Exports:

Wheat, including flour§ thous. of bu_.Wheat only§ do

Prices, wholesale:No. 1, Dark Northern Spring,

(Minneapolis) dol. per bu_.No. 2, Red Winter (St. Louis).. do. . . .No. 2, Hard Winter (K. C.) do. . . .Weighted av., 6 markets, all grades.-do

Production (crop est.), total mil. of bu..Spring wheat doWinter wheat .__ __do

Receipts, principal markets thous. of bu_.Shipments, principal markets doStocks, end of mo. world est._ do

Canada (Canadian wheat) doUnited States, total* do. . . .

Commercial doCountry mills and elevators*.. doMerchant mills* _.doOn farms* do

Wheat flour:Consumption (Russell) thous. of bbL.Exports! doGrindings of wheat thous. of bu..Prices, wholesale:

Standard patents (Mpls.) dol. per bbL.Winter, straight (Kansas City) do

Production:Flour, actual (Census) thous. of bbL.

Operations, percent of capacityFlour (Russell) thous. of bbL.Offal (Census) thous. of lb_.

Stocks, total, end of month (computed byRussell) thous. of bbL.

Held by mills (Census) doLIVESTOCK

Cattle and calves:Receipts, principal markets-thous.of animals..Disposition:

Local slaughter doShipments- total do

Stocker and feeder doPrices, wholesale (Chicago):

Beef steers* dol. per 100 lb_.Cattle, corn fed -doCalves, vealers _ do. . .

Hogs:Receipts, principal markets, thous.of animals..Disposition:

Local slaughter doShipments, total do

Stocker and feeder do__.Prices:

Wholesale, heavy (Chi.)----dol. per 1001b-.Hog-corn ratio*

bu. of corn per cwt. of live hogs..Sheep and lambs:

Receipts, principal markets_thous.of animals..Disposition:

Loeal slaughter doShipments, total do

Stocker and feeder _.doPrices, wholesale (Chicago):

Ewes » dol. per 1001b..Lambs do

8,9355,903

.76

.69

.65

.72• 736• 185« 551

43, 92422, 791

135," 793

166, 289

645

4.903.36

» 9, 984

MEATSTotal meats:

Consumption, apparent mil. of lb . . .Exports* doProduction (inspected slaughter) doStocks, cold storage, end of month do

Miscellaneous meats doBeef and veal:

Consumption, apparent thous. of lb_.Exports§ doPrice, wholesale, beef, fresh, native steers

(Chicago) dol. per R^-Production (inspected slaughter)-thous. of lb._Stocks, cold storage, end of mo do

Lamb and mutton:Consumption, apparent doProduction (inspected slaughter) doStocks, cold storage, end of month... do

Pork (including lard):Consumption, apparent doExports, totalf do

Lardf doPrices, wholesale:

Hams, smoked (Chicago) dol. per lb. .Lard, in tierces:

Prime, contract (N. Y.) doRefined (Chicago). do

1,764

972795375

9.099.26

10.03

2,007

1,45155036

5.75

12.0

2,392

1,419504

3.387.93

1,13639

1,037576

476,5961,401

.151469, 534

33,147

56,09756,5992,390

603,06433,02822,848

.203

.075

11, 4989,623

.78

.66

.69

61, 08025, 258

330, 93065, 457

133, 725

9,450399

42, 098

4.974.01

9,16054.8

10, 094743, 993

6,049

1,946

1,103821335

10.3110.9110.20

1,797

1,32346535

8.45

16.1

2,664

1,1461,495

438

3.277.93

468, 3551,082

.170462,160

34, 467

62,18662,1121,861

486,15717, 32910, 842

.226

.086

5,3583,483

.76

.67

.66

38, 47723, 291

420,110150, 665845, 292139, 273174, 410130,198401,411

9,239399

44, 234

4.913.91

63.010, 548

770, 077

6,5604,314

2,017

1,061950469

10.4211.1110.84

1,881

1,39747926

8.96

16.8

1,1741,786

621

3.287.56

1,01722

972548

60

1,

1,

07031

005459

53

1,261

.170495,83886,943

65, 39265,8802,318

506,16425, 49318, 790

.242

.083

.097

5,7203,104

.73

.69

.65

.65

27, 34523, 797

437, 340173, 542

141, 914

9,737557

43, 896

4.813.79

9,63460.5

10, 484765, 608

6,750

2,306

1,1221,120

594

10.3310.8810.70

2,255

1,66058728

8.08

17.4

2,805

1,1241,673

856

3.357.68

1,09734

1,07341350

479, 5881,248

.174477,45241,218

63, 27663, 5882,606

554,06628,33221,071

.248

.080

.092

6,9174,893

.73

.66

.63

.65

19,11021, 696

439, 820162, 375

136, 204

9,445431

40, 324

4.913.80

8,83859.2

9,286704, 995

6,200

1,900

989927473

10.0310.7510.29

2,607

1,90369133

7.65

18.1

1,945

996968415

3.738.38

1,09233

1,17748454

461, 4851,192

.172467,980

52, 637

56, 37556,9973,171

574,14227,07516,009

.200

.077

.090

6,9704,430

.77

.70

.67

.68/931/244/687

14, 89218, 252

484,150161, lfil656, 242128, 748138, 598107, 706281,190

9,226540

38, 357

5.063.84

8,41654.0

9,266672, 015

5,7004,317

1,465

843632309

10.1311.609.63

2,570

1,84872643

7.17

16.0

1,552

890673155

3.788.59

1,04034

1,22767172

415, 7881,795

.170416,04158,187

54, 28154, 6843,541

570, 27327,25819,198

.200

.074

12, 61310, 217

.80

.73

.71

.73

11,90012, 758

467, 360154, 325

118, 936

8,351510

38, 755

5.103.82

8,47657.2

8,711681, 624

5,550

1, 635

975608259

10.3511.5910.38

1,92875441

7.18

15.4

1,746

1,063677113

3.978.63

1,05742

1,20279176

434, 2391,105

.172425, 60553,126

61, 70961,1232,925

561,32936.96628, 520

.200

.073

.084

11, 9468,782

.78

.73

.71

9,5129,251

412,390144, 817

100,119

8,110673

35,447

4.953.66

7,75757.08,512

625, 888

5,300

1,294

807496213

10.1711.3611.19

1,971

1,39856638

7.66

16.4

1,546

95359582

4.388.54

37927784

377, 363841

.177368,12546,404

58,55858, 4522,773

463, 23932, 72724, 483

.200

.073

.081

11, 0878,487

.77

.73

.71

13, 74811, 113

379, 820139, 071446, 90682, 68992, 64682,481189, 090

55341, 068

4.793.54

8,95156.09,142

730, 612

3, 865

1,542

952579253

10.2911.4410.34

2,205

1,65454745

7.30

16.0

1,766

1,046720110

4.78

1,06439

1,067758

450,1831,047

.173439, 57640,970

63,77763, 4512,412

550, 28933,02222,157

.200

.070

.081

5,874

.78

.76

.70

.72

16, 0001], 174

359, 730134, 085

74, 851

76537, 698

4.873.47

8,24455.7

8,916665, 468

1,467

581233

10.0211.229.56

1,50948544

6.91

14.5

1,993

9001,0822515.669.36

94330

95575863

402,876710

.168390, 62336,866

51,19850, 7901,956

488,48625, 59117, 531

.203

.067

.077

14, 48910, 672

.86

.83

.76

.80

25, 52516,851

319, 890112,987

64,178

81239,066

5.233.60

8,51655.4

« 9, 424693, 372

1,737

1,068647240

10.59

2,410

1,822575

13.2

1,951

1,070884235

4.609.38

1,10542

1,12776165

479,1251,036

.166466,30634, 650

55, 53955, 3981,791

570,47636,99025, 303

.207

.069

.079

6,0333,929

.84

.73

.71

.75

44,01614,423

318, 34098,123

295,49281, 33438, 29185, 02990, 838

44838,927

5.163.58

8,44055.0

« 8,943699,737

3,641

1,476

934546187

9.229.669.13

2,105

1,53556043

6.39

11.9

1,711

913804167

2.979.25

1,07343

1,083749

452, 7211,114

.159444,33733, 591

53,19353, 2381,837

567,92637,40322,682

.206

.065

.075

7,4142,977

.78

.69

.67

99,00630,840

89, 281

149," 372

94438, 833

4.743.41

8,43257.4

* 9,193689,557

971664242

9.309.539.68

1,948

1,39454635

6.03

13.1

2,042

1,040261

3.178.85

1,05348

1,033699

452,9401,525

.156445,800' 33,456

53,01053,073r 1,893

•547,51842,22325, 339

.203

.061

.071r Revised. ° Estimated. • September 1 estimate. / December 1 estimate*•New series. For data on United States wheat stocks beginning 1923, see table 29, p. 17 of the June 1939 Survey. For data on hog-corn ratio beginning 1913, see table 33

p. 18 of the June 1939 Survey. Data on exports of meat beginning 1913 not shown on p. 43 of the August 1939 Survey will appear in subsequent issue. For price of beef steersbeginning 1913 see table 40, page 18 of the August 1939 issue.

fRevised series. Data on exports of lard revised for period 1913-37 to include neutral lard; revisions not shown on p. 43 of the August 1939 Survey will appear in a sub-

§Revised series. Data revised for 1937; see table 19, p. 14 of the April 1939 Survey.



1939

August

1938


berDecem-

ber

1939

Janu-ary



MEATS—ContinuedPork (including lard)—-Continued.

Production (inspected slaughter) totalthous. oflb..

Lard . doStocks cold storage, end of month do

Fresh and cured _ . doLard do

POULTRY AND EGGS

Receipts, 5 markets thous. of lb...Stocks, cold storage, end of month do

Eggs:Receipts, 5 markets thous. of cases..Stoeks, cold storage, end of month:

Case thous. of cases..Frozen thous. of lb

Cocoa TROPICAL PRODUCTSImports - long tons__Price, spot, Accra (N. Y.) dol. per lb._

Clearances from Brazil, totaL.thous. of bags.-To United States do

Imports into United States doPrice, wholesale, Rio No. 7 (N. Y.)

dol. per lb._Receipts at ports, Brazil thous. of bags..Visible supply, total, excl. interior of Brazil

thous. of bags..United States . do __

Sugar:Raw sugar:

Cuba:Stocks, total, end of month

thous. of Spanish tons..

Meltings 8 ports long tonsPrice, wholesale, 96° centrifugal (N. Y.)

dol. per lb_-Receipts:

From Hawaii and Puerto Ricolong tons. -

Imports § _ _ .-_ - doStocks at refineries, end of month., do

Refined sugar (United States):Exports, including maple. doPrice, retail, gran. (N. Y.) dol. perlb..Price, wholesale, gran. (N. Y.) doReceipts:

From Hawaii & Puerto Rico ..long tons.-Imports:

From Cuba§ . . . do. _.From Philippine Islands! do

Tea:Imports thous. oflbPrice, wholesale, Formosa, fine (N. Y.)

dol. per lb._Stocks in the United Kingdom thous. of lb

MISCELLANEOUS FOOD PRODUCTSCandy, sales by manufacturersJ.thous. of dol..

Landings, fresh fish, prin. ports.thous. of lb . .Salmon canned, shipments casesStocks, cold storage, total, 15th of month

thous. oflb..

Monthly report for 7 companies:Production do . .Shipments doStocks do . . .

Quarterly report for 11 companies:

Stocks do

Leaf TOBACCOExports§ thous. oflbImports, incl. scrap § _ do . . .Production (cron estimate) mil oflbStocks, total, incl. imported types, end of

quarter mil. of lb._

Cisrar tvpps doManufactured products:

Consumption (tax paid withdrawals):Small cigarettes millionsLarge cigars .-thousands._Manufactured tobacco and snuff

thous. of lb—Exports, cigarettes§ . thousands..Production, manufactured tobacco:

Total thous. of lb—Fine cut chewing doPlug do _.Scrap chewing doSmoking doTwist do

510,69391,676

473, 771361, 626112,145

25, 42963, 789

967

6,596135, 908

23,311.0435

1,357731

1,056

.0511,267

8,017846

1,570

349, 987

.029

84,140291,511293, 908

3,778.050.043

2,527

35,1364,438

7,499

(c)

15,256

45,789

72, 770

8321,4415, 488

33, 7737,541

* i 660

16, 571500, 807

33, 291641, 931

448,18074,192

451, 397334, 777116, 620

23, 74754,941

889

5,942125, 018

40, 630.0532

1,591819

1,145

.0541,624

7,276701

1,554

391, 543

.028

113, 822347, 381334, 246

5,134.050.043

754

59, 8726, 563

6,253

.280182, 558

13,053

46,898814,883

75,882

1,0561,9946,014

35, 2196,284

15,892477, 596

30,473502,491

27, 756409

5,1403,709

17, 962537

443, 75675, 838

367,177277, 231

89, 946

26,96559, 942

716

4,765110,244

18,147.0524

1,526818

1,189

.0561,792

7,621858

1,316

425, 588

.030

142, 271311, 574308, 086

6,428.049.045

1,335

11,7912,995

7,528

.280189, 983

22, 945

37,4601,112,465

84,537

9241,3975,542

3 9097,956

60,3795,324

2,2271,822

323

14,711486,482

30, 577420,493

27, 327403

5,0233,655

17,812433

531, 75389, 716

319,312251, 645

67, 667

36, 76377,692

646

3, 24494, 305

12,117.0499

1,598861

1,147

.0551,615

7,468721

1,014

375,935

.031

116,173213, 840269, 978

5,625.049.046

1,208

2,2934,287

7,959

.280214,017

21,401

40, 276899, 579

85,665

1,0821,4455,179

82,0346,289

13, 264525, 662

27,869631,023

24, 969358

4,3442,151

17, 671444

651, 636105, 533373,641299,142

74,499

74, 302118,088

574

1,43978,091

8,930.0480

1,218775

1,386

.0551,421

7,409858

784

292,036

.030

56,139111, 170215, 388

5,003.050.045

1,339

02,532

8,404

.280231, 628

23,656

34,701539, 699

93,024

1,3641,2265,317

55,1675,641

13, 506515,859

30, 940518, 943

28, 111363

4, 2664,563

18,503415

756, 532134, 776537, 525430,104107, 421

65, 855139,108

760

30262,903

15, 887.0462

1,451785

1,325

.0531,700

7,836914

750

247, 226

.029

98, 03846,066

194, 732

4,472.050.044

9,479

328987

7,603

.280243,223

21, 243

27,112716,458

90, 711

1,5181,2425,593

5 2348,004

54, 2174,797

/1,379

2,3431,946

298

12, 656333,982

27,126576, 210

24,825382

4,2904,133

15, 580440

715,179132, 533658, 489526, 411132,078

23, 286133, 531

1,041

13650, 345

18,143.0437

1,191662

1,423

.0531,295

7,816855

725

261,257

.029

62, 31763, 481

199,056

4,018.050.042

4,183

1,413536

7,698

.280252,634

17, 717

23,070524,250

77,088

1,5541,3015,845

28,0135,820

13,863349,497

26, 914451,194

23,260372

3,4193,419

15, 650400

500, 76990,038

667,419542,138125,281

16, 744116,229

989

16544, 476

33,297.0460

1,222697

1,086

.0521,033

7,740860

1,407

247,112

.028

122,969116,014241,039

5,344.049.042

17, 734

5,1872,223

7,931

.280234,468

18,195

25,652487,357

62, 253

1,4371,3355,948

37, 5025,492

11, 782361,233

25,425623,889

22, 571319

4,1452,924

14, 711471

563, 69999, 442

652,456523, 204129, 252

17, 82590, 987

1,649

1,10560, 465

43, 792.0468

1,305694

1,497

.0511,279

7,757867

2,580

371,979

.028

183,880228,690236, 666

5,532.049.044

16, 662

18, 2302,979

8,576

.280205,084

18,886

30, 983525, 662

40,423

1,5381,5575,929

6 3408,909

44,3336,592

2,3671,912

334

14, 244437, 584

29, 594562,225

26,052423

4,3223,365

17,451491

513,16091. 858

656, 746527, 213129, 533

16, 21770, 568

2,065

3,35788, 867

32, 052.0448

1,232610

1,017

.0511,341

7,916805

2,621

401, 523

.029

184, 440200, 084271,306

3,641.049.044

18,076

10,3366,495

6,866

.280182,681

16,223

41, 554524, 393

29, 756

1,5461,1786,296

21, 7774,783

12,269403,042

25,628424,857

22,895325

4,0763,023

15,045426

605,478106,945659,587520,251139, 336

24,42766,796

2,311

5,880117,900

28,889.0446

1,638767

1,187

.0521,498

8,249860

2,263

328,213

.029

137, 011184,364357,250

14, 529.050.044

23,352

18,8709,191

8,785

.280168,308

15,169

43,546257,564

35,295

1,6411,4186,520

24, 5027,765

15,445470,580

30,499592,851

27,150395

4,9743,501

17,747534

585, 804106, 218645,173496, 796148, 377

28,49467, 470

1,589

6,977141, 456

14,130,0436

1,563774

1,302

.0531,290

7,960857

2,038

304, 631

.029

127, 764256, 265382,443

6,557.050.044

9,799

24, 5999,393

6,724

.280161, 255

12, 696

38, 323221, 785

46,965

1,4441,4686,496

6,3239,478

17,1466,865

2,1361,703

318

16, 595486,721

30,107593, 218

27,493461

4,6523,917

17,979484

534, 28494, 453

T 594,581T 454.76GT 139,815

27, 712'64,918

1,161

' 7, 024T 144,359

16, 093.0433

1,217724

1,055

.0511,616

8,079781

1,846

362,129

.029

115, 750316, 242351,005

8,723.050.043

3,846

32,1451,451

6,798

.280

11,185

41,665211, 672

' 59,940

9531,3536,096

15,9406,463

14,260427, 533

26, 246691, 696

T Revised. « September 1 estimate. / December 1 estimate" c No quotation.tFor monthly data beginning 1928, corresponding with monthly averages for 1928-33 shown in the 1938 Supplement, see table 7, p t 17, of the January 1939 issue.§Revised series. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of the April 1939 issue.



1939

August

1938


berDecem-

ber

1939

Janu-ary



TOBACCO—Continued

Manufactured products—ContinuedPrices, wholesale:

Cigarettes __dol. per l,000__Cigars do

5.51346.056

5.51346.056

5.51346.056

5.51346.056

5.51346.056

5.51346.056

5.51346.056

5.51346.056

5.51346.056

5.51346.056

5.51346.056

5.51346.056

5.51346.056

FUELS AND BYPRODUCTS

COALAnthracite:

Exports§ - - . . . thous. of long tons . .Prices, composite, chestnut:

Retail dol. per short ton . .Wholesale do.__.

Production. . . . thous. of short tons . .Shipments. ._ do.Stocks, end of month:

In producers' storage yards doIn selected retail dealers' yards

number of days' supply. _Bituminous:

Exports! thous. of long tons . .Industrial consumption, total

thous. of short tons . .Beehive coke ovens doByproduct coke ovens doCement mills doCoal-gas retorts doElectric power utilities.. doRailways (class I) doSteel and rolling mills .doOther industrial__ do

Other consumption:Vessels (bunker) thous. of long tons . .Coal mine fuel-. _thous. of short tons . .

Prices:Retail, composite, 38 cities

dol. per short t on . .Wholesale:

Mine run, composite doPrepared sizes, composite do |

Production thous. of short tons . .Stocks, industrial and retail dealers, end of

month, total thous. of short tons_.Industrial, total do .

Byproduct coke ovens do.Cement mills do .Coal-gas retorts do.Electric power utilities do_Railways (class I) do .Steel and rolling mills. . do.Other industrial do .

Retail dealers, total do .

COKE

Exports thous. of long tons . .Price, beehive, Connellsville (furnace)

dol. per short t on . .Production:

Beehivef thous. of short tons . .Byproductf do .Petroleum coke do.

Stocks, end of month:Byproduct plants, total do.

At furnace plants do.At merchant plants do .

Petroleum coke do.

PETROLEUM AND PRODUCTS f

Crude petroleum:Consumption (runs to sti l ls). . . thous. of bbl__Imports§ doPrice (Kansas-Okla.) at wells__-dol. per bbl._Production thous. of bbl._Refinery operations.. pet. of capacity..Stocks, end of month:

California:Heavy crude and fuel thous. of bbl_.Light crude do

East of California, total doRefineries __ doTank farms and pipe lines do

Wells completed number . .Refined petroleum products:

Gas and fuel oils:Consumption:

Electric power plantsf thous. of bbl_.Railways (class I) doVessels (bunker)- . _ . .do

Price, fuel oil (Oklahoma) dol. per bbl__Production:

Residual fuel oil thous. of bbl._Gas oil and distillate fuels, total do

130

8,~66T3,8353,147

58

1,209

23,44769

5,177547128

3,842

7246,880

92236

4,2464.306

34,470

33, 61027,4105,632

357229

7,5004,218

5348,9406,200

66

3,750

4344

2,921916

2,005

2,942

3,026.850

100

~9.~43T' 2, 735

2,336

1,924

63

1,093

20,34679

3,534478128

3,3155,662

6606,490

21,11688

3,770430130

3,3385,938

6526,770

99211

4.2964.469

28,665

34,57927, 7195,540

299279

7,8344,556

6518,5606,860

33

3.750

' 482,494

148

3,7091,4532,256

651

101,3521,7201.160

106,16580

85,13233, 548

243, 95242,724

201,228' 1,624

1,2073,8982,916.925

129

11.029.602

2,121

44

1,032

95237

8.54

4.2994.524

32, 286

55

3.750

2,675111

3,6751,3922,283623

96,9901,5841.160

79

86,70533,975

240, 25142,979197, 2721,601

1,0943,8152,925.925

149

9.605' 4,1803,519

1,917

1,107

23,734100

4,360486134

3, 575

736

112258

4.2994.576

34, 989

36,50729,3775,952

313263

8,0294,672

6389,5107,130

39,02431,3246,459

330258

8,1955,052

62010,4107,700

40

3.750

'613,093147

3,7161,3342,382654

100, 7872,6471.040

101,83079

87, 22234,999233, 46341,131192, 3321,715

1,1014,199?,788.925

25,48713,820

127

~~9.~7l3' 3,8033,167

1,901

51

1,092

24, 921110

4,622441138

3,5306,597

803

129265

4.2994.565

35,925

40,82133,3217,173346264

8,4135,315

65011,1607,500

3.750

'673,278

153

3,7451,3072,438

678

97, 3092, 3s08.960

98, 56779

87, 39936,064

228, 74140, 386188, 3551,572

1,1934,0102,771.925

143

11.499.706' 4,533

3,849

1,458

37

48926,533

1234,742342144

3,6847,161837

9,500

81266

4.2984.55736,541

40, 72033,6707,462349252

8,4915,629687

10,8007,050

27

3.750

'763,363142

3,6101,2912,319

97, 9642,678.960

102, 28777

87, 22237,193229,14041, 221187,9191,419

1,2434,1112,925.925

25,19713,873

165

9.7314,9534,047

1,046

29

277

26,185121

4,751212149

3,5957,149858

9,350

261

4.2904.54435,530

39,72033,2707,374350236

8,3795,819742

10,3706,450

25

3.750

773,367126

3,3301,2412,089717

99, 6141, 371.960

102, 49078

87, 59536,927227,13442, 540184, 5941,385

1,2363,9572,587

154

4,1143,382

761

25

282

24,183111

4,346244137

3,0516,545759

8,990

92249

4.2864.52033,910

39,88734,0877,373403220

8,4566,736879

10,0205,800

23

3.750

713,078117

3,1161,2421,874705

87, 7971,343.960

93, 47576

87,00238, 323227,09841, 777185, 3211,338

1,1163,6402,904.850

21,47612, 797

143

11.359.6423,6043,232

408

22

25,786107

4,855368143

3,1686,970805

9,370

105259

8.68

4.2834.491

35, 290

40,50535,2257,222414217

8,7607,6031,0299,9805,280

21

3.750

3,439128

3,0371,1981,839

98,9171,736.960

106,76877

86,29439, 383229,07941,154187,9251,252

1,1344,0333,076.850

25,04013, 639

137

9.0785,2964,842

35

207

22,39031

4,114402131

2,8276,042823

8,020

74

4.4214.34510, 747

31, 74628,2264,434321179

7,6426,387803

8,4603,520

18

3.750

202,915142

2,9671,0911,876734

99, 3032,788.960

105,51080

86,07539, 699230,92640,180190,7461,419

1,2423,8903,341.850

24, 75013, 301

336

9.1545,0734,206

238

61

250

20, 51839

3,383416125

3,0325,915678

79122

4.4644.30017,880

25,41322, 6132,598275129

6,7405,196545

7,1302,800

37

3.750

252,396132

2,751951

1,800716

105, 7554,186.960

110, 541

85,58039,878230, 27940,445189,8341,656

1,3463,8703,520.850

194

10.559.1483,5302,959

559

71

984

21, 52181

4,361530123

3,3175,748671

6,690

99'191

8.28

4.2464.23827, 900

26,99122, 7613,548286170

6,6954,484518

7,0604,230

43

3.750

523,090142

2,657931

1,726710

104, 6873,279.960

104,60785

85, 04938,902226,46241,463184,9991,608

1,3543,9993,343.850

160

8.667' 2,9122,611

716

61

1,192

• 21, 77272

4,748559124

' 3, 5415,903665

6,160

97'200

4.2434.275

• 29,135

' 29, 72524, 6654,535342

'192' 7,002' 4,242'5127,840

'5,060

39

3.750

'463,365145

2,772945

1,827733

106, 8993,061.960

110,93784

85,65538,427

223, 55841,817181, 7411,641

1,5564,0503,207.850

25,64412,688

24,232 24,552 25,487 24,573 25,197 25,800 21,476 25,040 24,750 27,022 24,83612,691 13,074 13,820 12,793 13,873 14,135 12,797 13,639 13,301 12,353 13,530

' Revised.fRevised series. Petroleum and products revised for 1937; see table 9, p. 15 of the March 1939 Survey. Beehive and by-product coke production revised for 1937; see

p. 45 of the December 1938 Survey. Gas and fuel oils, consumption in electric power plants, revised for 1938; see p. 45 of the June 1939 Survey.§Revised series. Data for 1937 revised; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.



1939

August

1938


berDecem-

ber

1939

Janu-ary


FUELS AND BYPRODUCTS—Continued

PETROLEUM AND PRODUCTSf—Con.

Kenned petroleum products—Continued.Gas and fuel oils—Continued.

Storks, end of month:Residual fuel oil, east of California

thous. of bbL.Gas oil and distillate fuels, total do

Motor fuel*Demand, domestic thous. of bbL.Production, total do

Benzol doStraight run gasoline doCracked gasoline doNatural gasoline do

Natural gasoline blended doExports- do

Gasoline:^Price, wholesale, tank wagon (N. Y.)

dol. per gal..Price, wholesale, refining (Okla.) doPrice, retail, service stations, 50 cities .do"Retail distributiont mil. of gal..Stocks, end of month:

Finished gasoline, total thous. of bbL.At refineries do

Natural gasoline doKerosene:

Consumption, domestic.- doExports! doPrice, wholesale, water white 47C, refinery

(Pennsylvania) dol. per gal..Production thous. of bbL.Stocks, refinery, end of month do

Lubricants:Consumption, domestic -._ doPrice, wholesale, cylinder, refinery (Penn-

sylvania) .-dol. pergaL.Production... thous. of bbL.Stocks, refinery, end of month ..do

Asphalt:Imports! ...short tons..Production doStocks, refinery, end of month do

Wax:Production thous. of lb_.Stocks, refinery, end of month do

3,580

.107

.051

.802

.050

.105

1,670

32,87428,841

50,45950,071

13321, 52424,1884,2262,9503,998

.124

.055

.1402,088

64, 59940,1378,022

4,292597

.0524,933

10,149

2,002

.1052,5767,969

2,844514,400566, 400

31,920134,103

33, 66130, 860

46, 05848, 208

14420, 93423, 049

4,0813,3293,068

.124

.051

.1381,909

63,16338, 819

8,159

4,187797

.0515,348

10, 497

2,127

.1052, 6157,605

1,923456, 300471,100

36, 400129, 018

33, 34433,017

46, 27249, 789

16921, 3S323, 8624,3754,4323,572

.124

.046

.1311,890

63.54238, 739

6,771

5,185646

.0515,3209,949

1,805

.1052,6327,718

1,649464, 900442, 200

42, 000128,926

30,93532, 069

44, 99148, 201

18120, 39723, 379

4, 2444,2223,205

.124

.046

.1331,762

64, 08339,3765,742

5,368323

.0505,4199,676

1,735

.1052,5357,817

3,461322, 700447, 600

37, 520131, 772

26, 99127, 873

41, 64948, 026

18620, 79422, 701

4, 3454,2854,607

.119

.043

.1341,745

65,94941, 8054,830

6,813783

.0495,7397,799

1,831

.1052, 3847,695

2,078242, 400480, 900

36,120129,340

24, 30924, 650

37, 76749,120

18521,12523, 5404,2643,6372,764

.119

.041

.1331,548

73, 84749,419

4, 647

5,980776

.0495, 7026,711

1,609

.1052,5277,762

2,869244,400532,000

35, 280128,627

21,95221, 731

34, 59543, 409

17018, 45521,0373,7473,2292,569

.119

.042

.1331,427

79,69154, 5694,708

5,901516

.0525,1745,452

1,653

.1052,5227,951

9,662189, 300572, 000

33,320117,711

19, 28820,115

42, 52048, 367

19220, 66323, 2804,2323,2433,523

.118

.045

.1331,734

81,18955, 464

4,721

5,201523

.0535,9005,605

1,987

.1052, 6647,800

3,232308, 200650,000

44, 800117, 537

19, 53421,058

43, 97748, 837

16220, 92223, 5214,2322.9832,900

.114

.047

.1341,796

81. 62355,1725,484

5,042691

.0535,8135,663

1,770

.1052,6727,886

1,521374,900688,000

35,000119,301

21, 39722,088

49, 54751, 384

13022, 76724, 2074,2802,6463,915

.118

.049

.1352, 042

78, 34252,0766,212

4,368631

.0535,9096,551

2,132

.1052,8567,630

2,505477, 800672,000

34, 440113,925

22,48025, 659

49,81250, 861

17421, 78224,8104,0952, 6823,884

25, 02527, 581

50,50851,896

19122, 50225,0284,1752,9092,987

.111 I .107

.050 ! .050

.136 i2,006 j

74,395 ! 71,82447,972 44,1966, 749 7,123

3,570 I 3,710460 753

.0535,4397,949

1,902

.1052,8007,427

3,024485,800642,000

39,480111, 604

.0515, 3908,855

1,982

.1052,7557,179

1,726509, 400596,000

28,840109, 322

LEATHER AND PRODUCTS

HIDES AND SKINS

Imports, total hides and skins § thous. of lb._Calf and kip skins§ doCattle hides§. doGoatskins§ doSheep and lambskins§ ..do

Livestock (inspected slaughter):Calves thous. of animals..Cattle _ doHogs doSheep do

Prices, wholesale (Chicago):Packers', heavy, steers dol. per lb__Calfskins, packers', 8 to 15 lb do

LEATHERExports:

Sole leather thous. of lb_.Upper leather§ thous. of sq. ft_.

Production:Calf and kip thous. of skins..Cattle hides thous. of hides..Goat and kid.. . thous. of skins_.Sheep and lamb_._ do

Prices, wholesale:Sole, oak, scoured backs (Boston)

dol. perlb..Upper, chrome, calf, B grade, composite

dol. per sq. ft_.Stocks of cattle hides and leather, end of month:

Total thous. of equiv. hides..In process and finished doRaw .-do

LEATHER MANUFACTURES

Gloves and mittens:Production (cut), total. ..dozen pairs.

Dress and semi-dress do.._Work do.._

25,0931,8679,3085,3625,370

414823

2,7921,457

.116

.160

652,905

.335

16,2663,1752,7165,2234,341

457848

2,4671,603

.119

.145

603,738

1,3491,7642, 7553,226

.318

.378

13,3319,6663,665

181, 791112,73669,055

16,8972,1335,6705,4982,282

453917

2, 6711,694

.120

.143

413,709

1,1141,7172,3362,716

.320

.378

13, 2449,5403,704

173, 882106, 76167,121

19,8032,1167,5274,9453,641

470884

3,3111,638

.134

.161

494,651

1,1001, 7552,5252,822

.320

.385

13,4409,6653,775

183, 667115,94267,725

24,3993,44010, 7256,1222,685

457858

3,9131,453

.141

.163

423,420

1.1381,7862,6342,872

.324

.392

13,88510,0743,811

25, 6573,9729,5886,0754,468

417758

4,3461,347

.123

.157

263,689

1,2841,8823,2452,899

.318

.390

13,99610, 3013,695

162, 797 135, 7,102, 725 74,06560,072 61, 694

32,8263,56313,5286,3177,901

415761

4,0431,456

.121

63,097

1,3191,9363,185

.315

.393

13, 6029,8683,734

119, 25763,17756,080

28,1892,809

13, 2006,1893,975

385653

2,8901,361

.104

.154

143,492

1,3261,9433,1703,236

.303

.390

13, 3759,6993,676

153,40993,12360, 286

29,1962,38011,7716,7694,436

478774

3,2291,473

.107

.154

924,197

1,3291, 9553,6233,115

.291

.380

13,0099,2293,780

174,937103, 73971,198

25,4542,50511,3745,2604,858

457677

2,9311,224

.097

.145

463,585

1,1681,6723,4632,774

.290

.380

12,8139,0263,787

148, 42081,85066, 570

27,0261,939

10, 3886,3325,189

509814

3,4161,392

.105

.156

823,816

1,1871,7363,4733,015

.290

.380

12, 905

••9,0783,827

149, 59188,48061,111

22, 5632,3028,0345,2144,385

448 !778

3,1851,401

.110

.164

47 !3,640 I

' 1, 227 !••1,715'3,666••3,015

.294

.380 j

12,976 i•"9,151' 3,825

184,099111,92772,172

22,6822,6857,1285,2364,619

417782

2,7781,399

.115

.181

533, 428

1.0851.6173, 3233,041

.305

.380

13,0269,1853,841

161, G43104,988

56, 655r Revised.fFor petroleum and petroleum products, see note marked with a" t" on p.45. Retail distribution of gasoline revised for 1937-38; data not shown on p. 46 of the June 1939

Survey will appear in a subsequent issue.5 The gasoline statistics in the above table have been rearranged and data on the production of benzol have been added. With this series included, it is possible to derive

figures of total production of motor fuels, as shown here. Data for benzol production beginning 1925 not shown on p. 46 of the August 1939 Survey will appear in a subse-quent issue.

§Revised series. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.


Monthly statistics through December 1937, to-gether with explanatory notes and referencesto the sources of the data may be found in the1938 Supplement to the Surrey

1939

August

1938


berDecem-

ber

1939

Janu-ary


LEATHER AND PRODUCTS—Continued

LEATHER MANUFACTURES—Continued.

Shoes:Exports thous. of pairs..Prices, wholesale, factory:

Men's black calf blucher dol. per pair..Men's black calf oxfordf .-doWomen's colored calf do

Production, boots, shoes, and slippers:Total thous. of pairs..

Athletic doAll fabric (satin, canvas, etc.) doPart fabric and part leather doHigh and low cut, total do

Boys' and youths' doInfants' doMisses' and children's doMen's doWomen's do

Slippers and moccasins for housewearthous. of pairs..

All other footwear .do

234

5.754.703.00

42,949356246564

36, 3721,8942,1064,2429,932

18,198

5,101311

164

5.754.703.00

42, 252295291405

36,2471,9581,8454,090

10,06718, 287

4,692322

191

5.754.703.00

38, 280263319331

31,9871,8031,8183,8599, 568

14,940

5,115264

200

5.754.703.00

35,012282303315

27, 7991,6381,8783,5839,250

11,451

6,078236

138

5.754.703.00

30,054304305354

22, 5561,5531,8863,1328,6917,295

6,422114

113

5.754.703.00

29,988331355476

24, 3591,4261,7753,3998,4039,355

4,297170

108

5.754.703.00

33,561260457652

30,1491,4141,9873,7408,876

14,132

1,695348

195

5.754.703.00

35,457237530778

31,4001,3021,9403,7118,645

15, 801

1,983530

310

5.754.703.00

42, 375281760832

37,1321,5452,2564,5059,930

18,894

2,651721

223

5.754.703.00

32, 578275591641

27,8421,4071,9513,1227,680

13, 683

24, 464765

304

5.754.703.00

32, 222307526355

27,1611,4041,8253,4357,739

12, 757

3,002871

176

5.754.703.00

31, 776295454291

26, 3261,3901,9713,5797,888

11,498

3,702708

184

5.754.703.00

• 33,618268

••257380

' 28, 802' 1,439' 1, 836r 3,401

7,628' 14,497

' 3, 600••310

LUMBER AND MANUFACTURES

LUMBER—ALL TYPES

Exports, total saw mill products* M bd. ft..Sawed timber * .doBoards, planks, scantlings, etc. ..do

Imports, total saw mill products* doNational Lumber Mfrs. Assn.:

Production, total. ..mil. bd. ft._Hardwoods doSoftwoods do

Shipments, total . doHardwoods doSoftwoods ._ .. .do

Stocks, gross, end of month, total doHardwoods _ doSoftwoods.. do

FLOORING

Maple, beech, and birch:Orders, new M bd. ft..Orders, unfilled, end of month doProduction.. _ doShipments ..doStocks, end of month .do

Oak:Orders, new _ .doOrders, unfilled, end of month.. ..doProduction doShipments doStocks, end of month do

SOFTWOODSFir, Douglas:

Exports, total saw mill products*..M bd. ft..Sawed timber doBoards, planks, scantlings, etc do

Prices, wholesale:No. 1. common boards,..dol. per M bd. ft.-Flooring, 1x4, " B " and better, V. G.

dol. per M bd. ft..Southern pine:

Exports, total saw mill products*_.M. bd. ft_.Sawed timber doBoards, planks, scantlings, etc do

Orders, newf mil. bd. ft..Orders, unfilled, end of month doPrice, wholesale, flooring,_dol. per M bd. ft..Productiont mil. bd. ft_.Shipmentsf ___„ doStocks, end of month _ do

Western pine:Orders, new doOrders, unfilled, end of month doPrice, wholesale, Ponderosa pine, 1x8, no. 2,

common (f. o. b. mills)__dol. per M bd. ft..Productiont ..mil. bd. ft..Shipments! doStocks, end of monthf do

West Coast woods:1Orders, npw _. doOrders, unfilled, end of month doProduction _. doShipments _ doStocks, end of month do

124,02120, 25699,15654, 222

47,11746,19141,18044, 66672,679

55, 75514, 54641, 209

19.110

37.828

18,8215,52913, 292

696378

40. 57625659

2,018

509292

25.65552484

1, 975

772483669776

69,2176,960

62, 25749,128

1,998222

1,7762,033283

1,7508,4812,2006,281

7,4509,8507,0007,25019,950

36,94355,33842,46841,51179, 620

16, 2502,222

14, 028

17.640

36. 260

26,1564,632

21, 524622304

41.41630661

2,170

399253

22.49536475

2,037

537334578584905

76,8258,82767,99858,022

1,901237

1,6641,843293

1,5508,5602,1556,405

5,4008,8006,3005,950

20, 350

26, 57547,41639,03534,49784,158

20, 0774,36515, 712

17. 640

36. 260

25, 4794,19721, 282

612296

41.46639620

2,189

333201

22.17488411

2,109

411282466463920

78,18410,07768,10760,977

1,790239

1,5521,847295

1,5528,5062,0996,407

7,00010,6005,4005,20021,000

41,13356,39336,18832,15688,190

24, 6065,32219, 284

17. 640

35. 770

26, 4604,52721,933

710364

41.22578642

2,125

347190

21.91430388

2,139

444264471471935

10, 20556, 72950, 232

1,675246

1,4291,789311

1,4788,4422,0586,384

6,20011,2006,1005,50021,600

30,89155,72435,13931, 56091, 769

18, 5694,96113, 608

17. 640

35. 280

22,1665,19016,976

539323

42.09530580

2,075

386255

22.04305335

2,104

55532451849598S

93, 24713,28979,95846,884

1,505233

1,2711,593263

1,3308,3732,0696,304

6,50013,0006,2004,900

23, 350

26,65952,69731, 72027,68694,181

30,0989,01521, 083

18.008

35. 280

26,9254,01222,913

473307

41.01508489

2,094

391283

22.92238322

2,014

451361416414

70,65210,63357,96949, 521

1,582295

1,2871,662308

1,3558,3092,0556,254

7,45014, 7006,0005,90023,800

36,86860,64928,46326,91695, 228

24, 5545,929

18, 625

18. 424

35. 280

19,6094, 32615, 283

557330

40.76540534

2,100

279247

24.30181299

1,896

445388446413

1,021

70, 72710,87959, 22847,803

1,493293

1,2001,581282

1,3008,2092,0616,148

5,40015, 2005,5804,85024,350

26,91056,48227,64027,30894, 730

25,9725, 696

20, 276

18. 820

36.000

18,4964,70913, 787

491327

39.86495494

2,101248213

25.24153267

1,782426383434431

1,024

21, 76665, 50562, 591

1,808302

1,5061,995327

1,6678,0382,0216,017

6,55014,0005,3007,400

22, 600

28,14451,67529,63931,95192,445

34,54514,95019, 595

18. 620

34.300

25, 3146,70618, 608

604343

40.30579588

2,092

313211

25.132333J6

1,G99

602373563612982

82,95616, 58661, 72658, 292

1,771266

1,5051,828307

1,5217,9971,9846,013

8,10014,0005,6007,20021,000

26,12847,19928,56530,60487,191

29,48611,48518, 001

18.620

35. 280

20, 8574,95415,903

558360

39.97548541

2,099

367236

24.81349339

1,709

5133764S2509970

98,93218, 81973, 43048, 941

2,132271

1,8612,117307

1,8108,0241,9486,075

7,55014, 2005,6507,600

18, 850

32, 93741,13735, 44737, 99983, 635

36, 57012,19324, 377

18. 620

35. 280

24, 7406,16818, 572

608346

40.30614622

2,091

401233

24.90498405

1,802

660402609634955

112,13017, 98489, 25454, 692

2,036270

1,7662,061328

1,7338,0061,8966,110

6,85012,4007,4008,20018,400

36, 05839, 79334, 26837, 40179, 503

45,02810, 99234,036

18. 620

36. 505

23, 4766,66816, 808

614347

39. 00578613

2,050

444253

25.08520428

1,888

572437522535950

115, 26419,69892, 05153,021

1,938272

1,6661, 959324

1,6357,9791,8446,135

8,10011,9006,2008,30016, 600

36, 71339, 52334,12636,98576,165

48,10511, 507

18.620

37.240

30,0287,91622,112

569341

30.38571575

2,052

432267

25.42484418

1,943

547487477487946

' Revised. IData for August and November 1938 and March and May 1939 are for 5 weeks: other months, 4 weeks.

*New series. For the new series on exports of sawed timber and imports of saw mill products data beginning 1913 appear in tables 44 and 45, p. 18 of this issue. ForDouglas fir and southern pine, the new series on total exports represent a total of the items regularly shown. Note that the more defiinitive title "boards, planks, and scant-lings, etc." has been substituted for "lumber."

fRevised series. Production, shipments, and new orders of southern pine lumber for 1937-38 and production, shipments and stocks of western pine, 1937-38, have beenadjusted to the 1937 Census of Manufactures; data for southern pine not shown on p. 87 of the February 1939 issue, and for western pine not shown on p. 47 of the March1939 issue, will appear in a subsequent issue of the Survey. These revisions have not been carried into the totals shown on this page under the heading "Lumber—All Types."Revisions for the latter series, embodying certain changes in addition to those occasioned by the adjustment of the southern pine and western pine figures, will be shownwhen available. Wholesale prices of men's black calf oxfords revised beginning January 1938 because of style change with price of slightly different type of shoe substitutedat that time. Revised data for 1938 are shown on p. 47 of the September 1939 Survey.



1939

August

1938


berDecem-

ber

1939

Janu-ary


LUMBER AND MANUFACTURES—Continued

SOFTWOODS—Continued

Redwood, California:Orders, new . M bd. ft.Orders, unfilled, end of month do. . .Production .do. . .Shipments doStocks, end of month - .do. . .

FURNITUREAll districts:

Plant operations percent of normal -Grand Rapids district:

Orders:Canceled percent of new orders.New no. of days' production-Unfilled, end of month-. do.-_

Plant operations percent of normal-Shipments-. ._ no. of days' production-

Prices, wholesale:Beds, wooden _ 1926=100.Dining-room chairs, set of 6 do. . .Kitchen cabinets do._.Living-room davenports... do. . .

Steel furniture (see Iron and Steel Section).

31,36528,11732, 65632, 078

295, 690

59.0

3.02030

56.018

78.1102.388.187.2

29,21826, 59934,22927,885

287, 243

53.0

3.52127

50.016

80.3102.387.687.2

23,40923, 32234,83828,026

296,177

58.0

4.02023

55.018

80.4102.387.687.2

25, 35025, 11130, 72224,427

299,367

60.0

5.02020

60.016

80.4102.387.687.2

25, 93924, 69433,10625,028

304,859

57.0

6.01918

61.015

79.3102.387.687.2

22,13425,31027,28419,661

313,047

58.0

7.01213

62.013

77.6102.387.687.2

34,27034, 56225,26123,811

309,310

56.0

4.01921

58.012

77.6102.388.187.2

20,87530,64726,27224,243

307,494

56.0

5.01419

53.013

77.6102.388.187.2

32,09832,48528,58530, 822

300,378

57.0

5.01416

53.015

77.6102.388.187.2

26,38729,67627,93028,096

298,052

53.0

6.01013

42.012

77.6102.388.187.2

26,84628,18131,61427,806

299,887

53.0

7.01113

47.011

77.6102.388.187.2

24, 49824,56328, 26227, 469

295, 551

50.0

2.02528

47.013

77.6102.388.187.2

23,16828, 37725,42123,497

296, 426

51.0

4.01630

50.013

77.6102.388.187.2

METALS AND MANUFACTURES

IRON AND STEEL

Foreign trade:Exports (domestic) total§ long tons..

Scrap doImports, total§ do

Scrap doPrice, wholesale, iron and steel, composite

dol. per long ton..Ore

Iron ore:Lake Superior district:

Consumption by furnacesthous. of long tons..

Shipments from upper lake ports doStocks, end of month, total do

At furnaces doLake Erie docks do

Imports, total§ doManganese ore, imports (manganese content)!

thous. of long tons__

Pig Iron and Iron Manufactures

Castings, malleable:Orders, new short tons..Production.... do

Percent of capacityShipments ._ short tons._

Pig iron:Furnaces in blast, end of month:

Capacity ..Jong tons per dayNumber

Prices, wholesale:Basic (valley furnace) dol. per long tonComposite _ doFoundry, No. 2, northern (Pitts.)

dol. per long ton..Production thous. of long tons-.

Cast-iron boilers and radiators:Boilers, round:

Production ..thous. of lb__Shipments „_ doStocks, end of month do

Boilers, square:Production doShipments .__ .doStocks, end of month do

Radiators:Convection type:

Sales, incl. heating elements, cabinets,and grilles.thous. sq. ft. heating surface-

Ordinary type:Production „ doShipments doStocks, end of month ..do

Boilers, range, galvanized:Orders:

New ...number of boilers...Unfilled, end of month, total- ...do

Production doShipments doStocks, end of month. __ do

Steel, Crude and Semimanufactured

Castings, steel:Orders, new, total.. short tons..

Percent of capacityRailway specialties. short tons..

Production, total do.Percent of capacityRailway specialties. short tons..

477, 078291,89628,3283,729

35.95

3,7756,95532,71428,3654,349

213

18

40, 00540, 21247.9

33, 289

87, 715138

20.5021.15

22.892,660

1,9462,53718,463

21,44225, 360120, 651

1,106

5,2997,234

32, 007

60, 08216, 69469, 65869, 05929,475

39,69835.46,912

42, 42837.9

10, 229

242,139108,02920,0411,637

36.50

2,0773,32637,05031, 7595,292

172

31

25,75225, 79931.3

21,102

51,370

19.5020.15

21.891,494

2,2772,287

20, 619

20, 36717,804125,446

703

6,0235,214

27, 098

57,72115, 41456, 59556, 58630,912

24,81422.24,41136,45432.5

12, 983

346,068149,67327,9584,218

36.48

2,3143,28537,87432, 5165,358

188

35

29, 06129, 46034.8

26,941

57, 625

19.7520.29

22.141,680

2,3914,07818,925

25,33630,852119,841

606

7,1996,38728,003

68,33718,01665, 62265, 73530, 799

25, 56522.85,462

28, 47825.48,353

425,421223,95426,4455,524

36.48

2,7813,62438,59433,1735,421226

15

32,77029, 97036.4

28,717

70, 690115

20.5021.14

22.892,052

3,5614,80317, 701

22,85134,108108, 445

614

6,9077,679

27, 268

108, 42746, 88277, 56379, 56128,677

25,41822.74,12728,10925.1

469, 596273,44027, 6274,749

36.39

3,1501,481

37,45632,1665,290

198

26

36, 64335, 35143.0

35, 563

75,795121

20.5021.15

22.892,270

2,2333,08316,877

15, 38820,027104, 021

4,7655,697

26, 394

70, 86237,17083, 71680, 57431,819

30, 42827.27,12829,99426.87,207

490,095323,69128,7676,519

36.37

3,0410

34, 57929,4565,123

187

30

35, 63338, 80246.0

36, 434

71,315117

20.5021.15

22.892,211

1,3382,18216,114

10,12815, 08198, 831

498

3,9554,815

25, 624

47, 88220,62670, 23264,42637,625

38, 34234.2

14,74936,13032.3

11, 282

362,672227,88427, 6643,333

36.36

2,9270

31,68926, 6465,043

180

10

38,10535,37243.5

36, 403

70, 235118

20.5021.15

22.892,175

1,5731,64215,986

12,88112, 27699,128

442

4,8963,81428,279

61,00315, 02664, 09466, 60335,317

42, 02437.5

12,60638,92834.8

12,804

359,690224,913

19,1491,413

36.37

2,8530

28,84023,9124,928

179

26

33,23434, 786

42.934,698

74,285121

20.5021.15

22.892,060

1,8071,376

16,491

13, 8019,246

104,303

305

4,7112,950

30,800

50,87612,60456,47653, 29838, 495

30,36027.1

6,84836,471

32.610, 060

474, 360312, 26225,369

780

36.40

3,3170

25,87221,0544,818

203

21

35,99739,615

47.539,807

77,460123

20.5021.15

22.892,395

2,1981,113

17, 579

19,96010,406

114,878

340

5,5932,887

33,612

57,92810,14560, 42160,38738, 463

41, 36736.9

11,12540, 219

35.910,173

394,008240,12444,0832,769

36.34

2,80057

22, 79118, 3064,485

162

11

29,18331,640

38.833,666

60,160102

20.5021.15

22.892,056

1,9161,203

18,301

15,3399,448

119,839

476

4,3503,103

34,875

69, 77219, 44253,45460,47531, 442

34,10030.4

9,65535,944

32.19,751

532,641384,88128,1423,971

35.80

2,2463,60123,07118,8354,236217

17

27, 70230,84037.8

32,657

60, 515107

20.5021.15

22.891,718

1,9301,051

19,084

16,42911, 744124,462

556

4,2764,20734,963

68,19120,63867, 61066, 99532,057

41,66037.2

12,62141, 35936.9

12,506

588,856

32, 5872,537

35.69

2,8305,573

25, 86121,6104,251189

15

29,04130, 78137.0

32, 566

72, 495118

20. 5021. 15

22.892,118

1,9501,42719, 421

16,19414. 577126,130

729

4,6554,73034,975

59, 27716. 24562, 99663, 67031, 472

37, 77433.7

11, 87240, 27236.0

11,060

513, 664350,06630, 8513,335

35.82

3,1436,31028, 50724,1964,311222

24

29, 89228. 836

35.326,169

79,765'130

20.5021.15

22.892,356

1,3871,749

19,056

15, 28416, 807

124, 581

811

4,1875,280

33,902

' 53, 91419, 671

r 47, 894' 50, 488'28,878

34, 80431.1

7,72134,168

30.58,498

r Revised.5 Revised series. Data revised for 1937; see tables 19 and 20, pp. 14-15 of the April 1939 issue.



1939

August

1938


berDecem-

ber

1939

Janu-ary


METALS AND MANUFACTURES—Continued

IRON AND STEEL-ContinuedSteel, Crude and Semimanufactured—

ContinuedIngots, steel:

Production thous. of long tons..Percent of capacity

Bars, steel, cold-finished, carbon, shipmentsshort tons..

Prices, wholesale:Composite, finished steel dol. per lb__Steel billets, rerolling (Pittsburgh)

dol. per long ton_.Structural steel (Pittsburgh) dol. per lb_.Steel scrap (Chicago) dol. per gross ton_.

U. S. Steel Corporation:Earnings, net thous. of dol..Shipments, finished steel products

thous. of long tons..Steel, Manufactured Products

Barrels and drums, steel, heavy type:Orders, unfilled, end of month number...Production do

Percent of capacityShipments number..Stocks, end of month .do

Boilers, steel, new orders:Area thous. of sq. ft..Quantity number..

Furniture, steel:Office furniture:

Orders:New thous. of dol..Unfilled, end of month do

Shipments doShelving:

Orders:New doUnfilled, end of month do

Shipments doPlate, fabricated steel, new orders:*

Total short tons..Oil storage tanks do

Plumbing and heating equipment, wholesaleprice (8 items) dollars.

Porcelain enameled products, shipments 1thous. of dol..

Spring washers, shipments doSteel products, production for sale (quarterly):

Merchant bars- thous. of long tons..Pipe and tube doPlates do....Eails _. do . .Sheets, total do....

Percent of capacity. _.Strip:

Cold rolled.. thous. of long tonsHot rolled do....

Structural shapes, heavy.. doTin plate .doWire and wire products do

Track work, shipments short tons.NONFERROUS METALS AND

PRODUCTSMetals

Aluminum:Imports. bauxite§ long tons..Price, wholesale, scrap, castings (N. Y )

dol. perlb..Babbitt metal (white-base antifriction bearing

metals):Consumption and shipments, total

thous. of lb_.Consumed in own plants do_Shipments do.

Copper:Exports, refined and manufactures!

short. tons__Imports, total§ do

For smelting, refining, and export§___doProduct of Cuba and Philippine Islands

short tons..Allother§ do

Price, wholesale, electrolytic (N. Y.)dol. per lb_.

Production:Mine or smelter (incl. custom intake)

short tons..Hennery do

Deliveries, refined, total do___Domestic doExport do

Stocks, refined, end of month doLead:

Imports, total, except manufactures (lead con-tent) § short tons,.

Ore:Receipts, lead content of domestic ore. doShipments, Joplin district^ do

3,76461

42, 895

.0261

34.00.021013.88

247, 729820,941

51.9825, 551

34,407

8901,175

1,8131,3081,887

404328433

21, 8288,229

234. 87

" " 1 8 4

5,402

40,644

.0702

1,999629

1,370

45. 84016,17615,582

136459

.1026

3,019

2,53741

28,327

.0268

34.00.021013.75

559

378.675766, 374

47.6771, 283

35,756

7831,063

1,5381,0631,677

292378

22,0693,646

235.03

749123

3,036

18, 855

.0736

1, 538508

1.030

36,98412, 97611, 673

421,260

.0990

44,5*838,05362 83248,07114,761

315,191

4,476

2,64744

30,903

.0268

34.00.021013.50

10,026

578

445, 310783, 592

48.7759, 18860,160

5791,124

1,6301,0261,667

411386317

18, 5513,623

234. 01

736137

434564384116

1,13143.1

214367331528

2,686

36,204

.0813

1,474453

1,021

40,44113,19212, 402

91700

.1003

49,31645, 80867 91953, 63714,282293,080

4,443

3,10652

35,106

.0266

34.00.021012.88

663

374,454841,653

52.3865, 57236, 241

7171,125

1,650958

1,718

318362342

21.7935,379

233.88

796164

2,608

26,795

.0813

1.366509857

40,91510, 4399.408

77954

.1076

69, 63056. 82482, 60569, 82712, 778

267, 299

1.692

3,55860

37,673

.0268

34.00.012014.20

248, 376788,040

49.0799,67824,603

635947

1,8131,0641,707

335255442

20,2133,629

233.97

675186

2,514

33, 737

.0808

1, 596597999

31,28516.15415. 568

172413

.1103

73, 20566. 84664, 65751,39713.260

269, 488

4,482

3,13153

36, 315

34.00.021013.75

19, 792

694

519, 375830,979

51.7822,74632,696

8921,012

1,852977

1,982

315205357

28, 2185.950

233.97

645177

616611452105

1,8121.0

160384395374617

2,840

41,060

.0800

1,606648958

40, 74122,13221, 731

156244

.1103

72,70968,07147, 80438,9778.827

289, 755

4,241

3, 17453

39, 648

34.00.021013.85

789

438,746749.070

47.5746, 51034,717

1,1311,264

1,9661,1321,813

253318

20, 5114,081

233.99

610185

2,909

33, 660

.0750

1,725644

1,080

25, 50318. 55118,076

100374

.1103

60,17066,31654. 82751,0593,768

301,244

11,99*8

2,98954

38, 571

.0268

34.00.021014.06

678

421,037552,189

35.0556.06930,586

817892

1,7821,1401,775

292349

22,9037,401

234.64

771180

4,250

35, 397

.0713

1,460359

1,101

23. 80711,63410, 509

146979

.1103

60,70759, 45251, 57748. 2673 310

309.119

15,485

3,40555

42,808

.0268

34.00.021014.25

15,881

351,203709, 252

44.4710,22829,610

617

1,7981,0521,886

499317474

29,7847,723

234.82

959215

672595491293

1,65460.1

125243459422674

6,481

40,309

.0713

1,783531

1.252

27, 36419, 36518,450

105810

.1103

61,75266, 71855. 02550, 8034.222

320, 812

13, 257

2,97452

36,287

.0268

34.00.021013.38

701

277,719800,292

50.1799,40430,498

765834

1,619952

1,707

327389

35,8445,429

234.82

853184

6,819

.0703

1,380338

1,042

28.16220,65119, 728

180742

.1027

62. 54858, 36846. 66742, 4844 183

332, 513

16, 593

2,923

47

34, 287

.026434.00.021012.80

723

257, 961814, 298

51.1812, 84331,867

877983

1,7801,0161,716

507387447

34,03610,976

234. 77

851171

6,658

51, 027

.0688

1,602425

1,177

36,30319.04018,128

903

58, 60068, 53663, 89451,22512, 669

337,155

10,961

3,12553

35, 615

.0262

34.00.021013.56

15, 881

733

208,000833,378

52.3822, 65842, 587

1,0321,098

1,9021,2071,714

420360451

33,95913, 481

234. 77

183

595620505386

1,49252.7

110210474556650

6,832

43,629

.0688

1,749611

1,137

39, 35023, 24*21, 992

1841,072

.0978

59, 67261,71963, 86253, 57310, 289

335, 012

5,179

' 3, Ifi3'55

32, 809

.0261

34.00.021013. 56

676

235. 772719,055

45.1725, 66933.025

7721,033

1,7371,3821,567

400358360

31,3648,188

234.71

951149

5,330

44, 805

1,613517

1,096

35,16821,12318, 646

1352,342

.0998

54, 53257, 33975, 80859, 68116,127

316, 543

3,864

25,941 27,605 28,193 34,716 35,885 37,654 31,593 31,748 30,614 33,589 32,300 31,2683,728 3,744 3,576 5,113 3,911 6,052 9,695 6,314 3,264 4,396 3,679 4,152 4,537

••Revised.•Data are for 46 identical manufacturers; beginning January 1938 data are available from the reports of the Bureau of the Census for 26 additional small establishments.*[As reported by 21 manufacturers through December 1938; subsequently, 2 of these ceased operations. For 1937 and 1938, data are available from the reports of the Bureau

of the Census for 34 additional establishments, and, beginning January 1939, for 80 additional establishments.JData for October and December 1938, April and July 1939 are for 5 weeks; other months, 4 weeks.§Revised series. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.



1939

August

1938

August Sep-tember October

Novem-ber

Decem-ber

1939

Jafy" F6aryU"March April May June July

METALS AND MANUFACTURES—Continued

NONFERROUS METALS AND

PRODUCTS-Continued

Metals—Continued

Lead—Continued.Refined:

Price, wholesale, pig, desilverized (N. Y.)dol. perlb..

Production from domestic ore_ .short tons.Shipments (reported) doStocks, end of month do

Tin:Consumption of primary tin in manufactures

long tons..Deliveries doImports, bars, blocks, etc doPrice, wholesale, Straits (N. Y.)__dol.per lb__Visible supply, world.end of mo.t___loug tons..

United States do....Zinc:

Ore, Joplin district^:Shipments short tons .Stocks, end of month do

Price, wholesale, prime, western (St. L.)dol. perlb..

Production, slab, at primary smeltersshort tons..

Retorts in operation, end of mo number.-Shipments, total short tons..Stocks, refinery, end of mo do

Miscellaneous ProductsBrass and bronze (ingots and billets):

Deliveries short tons..Orders, unfilled, end of month do

Plumbing fixtures, brass, shipmentsthous. of pieces..

Radiators, convection type, sales:Heating elements only, without cabinets or

grilles thous. of sq. ft. heating surface...Including heating elements, cabinets, and

grilles thous. of sq. ft. heating surface...Sheets, brass, wholesale price, mill dol. per lb_.Wire cloth (brass, bronze, and alloy):

Orders, new thous. of sq. ft..Orders, unfilled, end of month doShipments doStocks, end of month do

MACHINERY AND APPARATUS

Air-conditioning systems and equipment:Orders, new:

Totalf thous. of dol.Air-conditioning group doFan-groupt doUnit-heater group do

Electric overhead cranes:Orders:

New doUnfilled, end of month do .__.

Shipments doExports, machinery (See Foreign trade.)Foundry equipment:

Orders:New 1922-24 = 100Unfilled, end of month do. . .

Shipments doFuel equipment:

Oil burners:Orders:

New i) uni herUnfilled, end of month do __

Shipments do. . . .Stocks, end of month do

Pulverizers, orders, new doMechanical stokers, sales:

Classes 1, 2, and 3 doClasses 4 and 5:

Num herHorsepower

Machine tools, orders, newav. mo. shipments 1926=100..

Pumps and water systems, domestic, ship-ments:

Pitcher, other hand, and windmill pumpsunits

Power pumps, horizontal type doWater systems, incl. pumps . . .do.. . .

Pumps, measuring and dispensing, shipments:Gasoline:

Hand-operated units..Power do

Oil. grease, and other:Hand-operated doPower do

0.050436,55645, 025

117,985

6, 2954, 7354. 876

26,3383,613

28, 4289, 503

.0472

40, 96034, 44349, 928122,814

6,006

15, 542

1,721

787.168

413793439637

8442,414347

131.6123.1143.8

22,7485. 040

24, 66019.642

14

14,682

37663. 899

52, 8971 138

19, 890

0.049023,72338,343

142,868

4,1003,7754,880.4326

•41,7265,232

38, 01413,149

.0475

32, 29629, 76736, 507

141,997

5,01814, 237

1,538

60

565.168

470712407590

3,0791. 2931,144

642

1441,147

243

83.4102.889.1

15, 6223, 388

15, 37326, 638

18

12, 555

30444,190

120. 9

43, 533908

17,196

6639,198

10, 4202,934

0.050024,99439,026

131, 353

3,7704,4653,895.4338

• 40, 5684,573

31.89414.895

.0485

32, 32831, 55543, 582

130, 743

4,48716,267

1,382

65

495.168

538712439511

3,0191,270

941

1131,017

243

78.797.384.2

26, 4033.386

26. 40523, 705

6

20,126

32645,030

35, 803928

17, 205

6908,702

9,6322,075

0.051027,96845, 726

117,476

4,0604,9604,643.4522

'38,9694,500

39,01418, 745

.0501

36, 74032,42743. 355

124,128

5,15917,019

1,446

58

494.173

497822385505

3,3521,228

8991,225

1711,080

108

87.991.893.4

20. 3462. 673

21. 05922. 556

8

17,339

34259,920

118.1

25, 556997

13,934

6327,752

12. 2461,729

0.050935,95842,005

115,134

4,1603,5354,448.4623

' 37, 1695,060

34,82717, 299

.0492

40, 34336, 24343,693

120, 778

4,75913,740

1,359

110

570.175

419780458446

2,885819837

1,228

1791,052

207

89.787.094.5

11.4092.564

11,51821,421

12

7,689

22834, 533

112.2

26, 572893

12, 803

8588,412

14,6532,367

0.048430,98833,908

115,902

4,3303,4003,555.4618

' 37, 7375,157

42, 23712,251

.0450

45, 34538, 79339, 354

126, 769

4,34711,463

1,218

109

491.174

360752392450

3,2111,112

8711,228

3771,171

257

141.9126.0102.8

8.4352,1558,824

21, 32619

4,752

21940,117

146. 5

24,889865

10, 402

6497,652

10, 7081,480

0.048338,29940,189

117,214

4,2304,3303,971.4638

»• 39,1164,624

27,45212, 301

.0450

44,27739, 50042, 639

128,407

4,9269,240

1,391

37

410.173

505868388478

3,3491,747

812790

1681,173

166

122. 5151.496.3

9,6163.0338,738

21, 88516

3, 398

18934, 909

150.8

41,191464

14, 738

7405,858

10,2972,071

0.048136. 39134, 421

122,112

4,4104,1055,097.4562

r 40. 0515,486

33, 2208,400

.0450

39,61339,45939,828

128,192

4,6628,161

1,419

26

418.173

352805404504

2,8891,446

821622

2011,131

244

135.5175.1112.2

7,9813,3407,674

22, 85010

2,375

18638,932

167.1

31. 485740

14, 259

1,0056,156

11,9822,981

0.048237, 79040,871

122,035

5,2704,7555,208.4621

r 37. 8065,806

28,33010, 503

.0450

45,08438,25145, 291

127,985

5,81814, 571

1,505

47

497.173

484853427532

4,7542,8451,073

836

284993270

146.6193.6128.1

11, 8064,475

10, 67121. 790

33

3,669

16834, 811

185.4

42, 693732

16, 222

1,5828,878

13,0784,305

0.047836, 70437,903

123,394

5,1905,9803,814.4720

' 37,2413,385

37,9089,294

.0450

43, 03638, 76340, 641

130, 380

4,65714,037

1,330

62

546.170

347768422549

4,5283,015

955558

8231,504

312

146.2208.6131.0

11,3465,181

10. 6402i; 619

8

3,427

16432, 540

155.6

38, 4681,463

16, 889

1,3469,637

13,9193,544

0. 047543, 02640,124

129, 270

5,9205,9055,118.4902

' 33, 8323,387

32,1267,498

.0450

42, 30236, 33139, 607

133, 075

4,54312, 688

1,554

101

717.165

481830413560

4,9013,1151,318

468

4381,755

174

108.9173.1144.3

15, 2845,456

15,00920,214

23

5,023

21549, 255

219.8

44, 216731

20, 773

1,60112,017

17,0853,332

0.048037, 23738, 710

129,636

5,7804,9256,020.4885

30,0554,388

31,0776,749

.0450

39,45036, 29137, 284

135, 241

5,02611,065

1,577

138

814.165

366750444582

'5 ,386' 3, 357

1,509521

2741,813

215

134.9159.2148.5

17,9016,451

16,90619,947

20

7,599

26756, 419

211.6

55,048953

23,067

1,12911,430

15, 6123,186

0. 048534. 92642, 636

124,017

5,1405,2756,179.4852

29,6255,339

33, 9907,601

. 0452

39, 66935, 49143,128

131, 782

5,03514, 625

1,532

657.167

468823392624

4,4382,5651,327

546

3831,917

280

114.0135.6135.5

17, 8386,952

17, 33718, 854

11

9,246

27951, 722

230.9

52, 336964

19,029

8759,419

14,0532,011

T RevisedtRevised series Data for "driving mechanisms for general fan use" have been removed from the fan group beginning January 1936. Revisions not shown on p. 50 of tbe

May 1939 issue will appear in a subsequent issue. Beginning January 1935>. data on air-conditioning systems and equipment are available for from 252 to 267 manufacturers-figures shown here are for 125 of these whose orders in January 1939 amounted to more than 85 percent of the total for 252 manufacturers. World visible supply of tin revised be-ginning January 1935 to include stacks of refined tin at all European smelters.

IData for October and December 1938, April and July 1939 are for 5 weeks; other months, 4 weeks.



1939

August

1938


berDecem-

ber

1939

Janu-ary


METALS AND MANUFACTURES—ContinuedMACHINERY AND APPARATUS—Con.Pumps, steam, power, centrifugal, and rotary:

Orders, new thous. of dol..Water-softening apparatus:

Shipments, domestic. units. .Woodworking machinery:

Orders:Canceled. _ thous. of dolNew doUnfilled, end of month.. _ .do

Shipments:Quantity number of machinesValue ..thous. of dol

ELECTRICAL EQUIPMENTBattery sales (replacement only):*

Unadjusted. 1934-36«=100Adjusted do

Electrical products:*Industrial materials, sales billed. _.1936«=100_.Motors and generators, orders received..do _ _Transmission and distribution equipment,

orders received 1936=100Furnaces, electric, industrial, sales:

Unit kilowattsValue thous. of dol..

Electrical goods, new orders (quarterly)thous. of dol

Ironing machines, sales* units. .Laminated products, shipments..thous. of doL.Motors (1-200 hp.):

Billings (shipments):A. C doD. C _ do .

Orders, new:A. C do . .D. C , . . do

Power cable, paper insulated, shipments:Unit thous. of ft-.Value thous. of dol..

Power switching equipment, new orders:Indoor dollars..Outdoor do . .

Ranges, billed sales thous. of dol-.Refrigerators, household, sales number..Vacuum cleaners, shipments:

Floor doHand-type do

Vulcanized fiber:Consumption of fiber paper thous. of lb._Shipmentsf _ thous. of dol

Washing machines, sales* units

1,585

1,236

1,921182

11,386906

783860

67,963259,436

1,799• 94, 712

74, 33322 268

1,971528

132, 297

2,006

1,244

14337665

164298

163122

64.360.2

90.8

1,914144

11, 977635

1,738458

1,695358

660657

118,938190, 306

1, 36792, 956

73, 30917, 248

1,450350

129,163

1,462

1,078

1381714

205332

198128

74.262.7

87.0

82958

158, 95911, 272

800

1,742325

1,733472

763764

121, 481120, 784

1,27262,148

79,18022, 834

1,189380

125,821

1,449

1,191

4340656

165394

188111

78.061.0

76 3

1,32478

10, 523838

1,538300

1,641347

587555

55, 331128, 450

1,25734, 345

95, 68424,121

1,495372

115,019

970

1,038

3456720

172388

168120

81.967.6

73.1

1,17667

8,226851

1,506305

1,605651

603588

55, 627124, 927

1,04732,103

89, 77229, 734

1,565422

84,192

1,155

1,077

4612910

236418

149132

79.272.1

79.4

2,356110

160, 3749,210

876

1,713446

1,733659

476502

91, 720138, 840

1,00647, 599

95, 52130, 632

1,385383

67, 502

1,204

1,108

13363863

190397

100127

79.669.2

81 0

3,147195

8,208838

1,436330

1,574540

271273

51,124109, 799

2,230150,108

78, 75323, 846

1,410458

109,909

1,282

1,082

14410836

216422

78122

79.267.8

108.3

1,23598

8,016812

1,508449

1,762404

353312

47, 458223, 286

2,103198, 528

87,14025,182

1,561470

129,885

1,258

1,698

1445896

209384

73121

90.899.3

129 1

4,681215

197 65411, 607

968

2,050557

2,356739

637662

87, 019197,175

2,263251, 644

122, 78529, 470

2,070528

152, 725

1,230

1,122

5393923

152360

72132

80.577.5

103.0

1,934161

9,047830

1,986534

2,062546

700696

75,161279, 093

1,939260, 204

100, 48724, 539

1,575466

116, 199

1,236

1,217

484898

216510

84151

84.177.5

117 2

2,789194

8,433849

2,053519

2,319428

566674

89, 809346, 530

2,395273,966

91, 05523, 322

1,749458

105, 266

1,673

1,282

417905

224411

111163

'86 .687.8

102 0

3,228213

205, 5677,216

901

2,410574

2,504549

652718

92, 347217,846

2,025268,848

80, 66019, 014

1,735441

120, 076

1,090

1,306

5438980

157357

78.276.0

121.2

1,33297

7,741805

2,053538

2,128406

716773

90, 302283,614

1,428164,211

61,49215,197

1,725437

104, 817

PAPER AND PRINTINGWOOD PULP

Consumption and shipments:*Total, all grades short tons 503,181 495,097 525,085 522,863 539,061 499,076 484,507 546,949 527,307 524,391

Chemical:Sulphate do 235,709 216,739 211,591 227,063 214,796 211,884 196,419 199,931 228,680 221,196 204,220Sulphite, total do 154,174 144,320 146,614 151,056 151,635 174,546 145,040 136,667 156,107 148,801 152,108

Bleached do . 96,894 86,403 88.885 91.575 90,486 115,442 89,511 85,120 97,156 93,498 94,398Unbleached do 57,280 57,917 57,729 59,481 61,149 59,104 55,529 51,547 58,951 55,303 57,710

Soda do 30,617 31,118 31,505 32,575 31,996 32,643 31,526 34,705 32,946 33,713Groundwood _do 130,809 111,505 105,774 115,461 123,857 120,635 124,974 116,383 127,457 124,364 134,350

Imports-Chemical§ d o . . . 130,920 159,990 142,407 142,188 166.091 171,520 15)0,510 103,504 117,800 78,534 140,131GroundwoodJ d o . . . . 19,649 14,957 20,576 15,175 17,491 17,366 20,076 7,312 17,326 9,867 18,562

Production:Total, all grades do 485,830 475,356 522, S25 533,423 522,220 533,442 484,605 543,411 521,590 535,149

Chemical:Sulphate d o . . . . 233,197 217,004 212,664 231,804 217,896 212,884 207,259 200,502 228,632 212,559 201,123Sulphite, total do 158,341 138,457 139,022 154,210 157,724 152,498 158,913 132,662 149,019 142,401 161,601

Bleached do 97,283 78,826 82,373 94,729 93,782 95,845 I 100,337 79,698 92,729 88,250 103,464Unbleached do 61,058 59,631 56,649 59,481 63,942 56,653 58,576 52.964 56,290 54.151 58,137

Soda d o . . . 30,718 30,995 31,625 32,632 31,917 32.255 31,075 34,561 32,768 34,748Groundwood do 110,079 99,651 92,675 105,186 125,171 124,921 135.015 120,366 131,199 133,862 137,677

tocks, end of month:Total, all grades d o . . . . 211,443 191,702 139,442 200,002 183,161 217,526 217,624 214,085 208,369 219,127

Chemical:Sulphate do 31,297 26.814 27,887 32,628 35,72S 36,728 47,568 48.139 48,091 39,454 36,357Sulphite, total do 97,751 112,602 105,010 108,164 114,253 92,205 106.078 102,073 94,985 88,585 98,078

Bleached do 59,379 76,611 70,099 73,253 76,549 56.952 67,778 62,356 57,929 52,681 61,747Unbleached . . .do 38,372 35,991 34,911 34,911 37,704 35,253 38,300 39,717 37,056 35,904 36,331

Soda do 4,851 4,728 4,848 4,905 4,826 4,437 3,986 3,842 3,664 4,699Groundwood do____ 48,904 67,176 54,077 43,802 45,116 49,402 59.443 63,426 67,168 76,666 79,993

Price, sulphite, unbleached dol. per 1001b.. 1.95 2.20 2.07 2.02 2.00 2.00 2.00 2.00 1.95 1.95 1.95PAPER

Total paper:Paper, incl newsprint and paperboard: !

Production short tons . . 954,659 874,263 926,616 957,377 849,764 843,063 873,441 1,036,734 912,676 \r 959,841 ' 898,307 859,970Paper, excl. newsprint and paperboard: |

Orders, new ..shorttons 521,567 467,455 479,970 514,201 437,128 430,048 408,274 542,497 436,980 j r 477,034 '454,900 429,256Production do 528,246 454,897 482,812 534,542 444,728 442,405 403,770 535,229 462,299 r 498,197 '441,236 418,433Shipments _do I 529.198 456,235 475,850 532,175 441,194 446,265 460,019 542,734 447,500 r 479,108 r 449,987 j 436, 635

»• Revised. • Less than $500. • Pulp used in the producing mills and shipments to the market. • Estimated.•New series. Data on battery sales beginning 1934 appear in table 35, p. 17 of the August 1939 issue. Sales of washing machines and ironers beginning 1929 appear in

table 43, p. 17 of this issue. For data on electrical products beginning 1934, see table 32, p. 18, of the June 1939 Survey; data are furnished by both member and nonmembercompanies rather than member companies alone as therein stated.

§ Revised series. Data revised for 1937; see table 20, p. 15 of the April 1939 Survey.t Revised series. Data on vulcanized fibre shipments revised beginning 1934; data not shown on p. 51 of the January 1939 Survey will appear in a subsequent issue.

»>7O

502, 887

202, 204146,99391,16455, 82930, 031123, 659

152, 71917, 403

507, 857

201, 364153, 52697, 30850. 21831,164121, 803

224, 097

35,517104,01107,89136, 7205,83278,1371.95

495, 390

208,187143,48791,42852,05928, 303115, 413

137,43119, 694

472,095

206,479132,46082, 52749, 93326, 846106, 310

200, 803

33, 80993. 58458,99034, 5944,37669,0341.95



1939

August

1938


berDecem-

ber

1939

Janu-ary


PAPER AND PRINTING—Continued

PAPER—Continued

Book paper:fCoated paper:

Orders, new short tons..Orders, unfilled, end of month doProduction do

Percent of potential capacityShipments short tons..Stocks, end of month do

Uncoated paper:Orders, new doOrders, unfilled, end of month doPrice, wholesale, "B" grade, English fin-

ish, white, f. o. b. mills.dol. per 100 lb_.Production short tons._

Percent of potential capacityShipments short tons..Stocks, end of month do

Fine paper:Orders, new doOrders, unfilled, end of month doProduction doShipments do....Stocks, end of month. do

Wrapping paper:Orders, new doOrders, unfilled, end of month doProduction doShipments doStocks, end of month do

Newsprint:Canada:

Exports doProduction doShipments from mills doStocks, at mills, end of month do

United States:Consumption by publishers doImports§ doPrice, wholesale, rolls, contract, destina-

tion (N. Y. basis).__dol. per short ton..Production short tons_.Shipments from mills doStocks, end of month:

At mills ...doAt publishers! doIn transit to publishers! do

Paperboard:Consumption, waste paper doOrders, new doOrders, unfilled, end of month __doProduction do

Percent of capacityStocks of waste paper, end of month:

At mills short tons..

PAPER PRODUCTS

Coated abrasive paper and cloth:Shipments reams..

Paperboard shipping boxes:Shipments, total mil. of sq. ft..

Corrugated doSolid fiber _ do

PRINTING

Book publications, total no. of editions..New books doNew editions r--do

Continuous form stationery thous. of sets.Operations (productive activity) 1923=100.Sales books, new orders thous. of books.

15,5593, 69517,73769.9

16,28714,971

107,02841,701

5.4598,18078.7

96,337• 59,839

236,975224,367214,659

159,647195,644

50.0080,00079,060

17,946277, 569

314,316454,817119,502443,226

72.4

246,219

86, 401

746617127

126, 552

17,414

16,6083,07616,83659.3

16,138' 13, 582

88, 26534,542

5.4591,791

70.889,862110,267

39,10311,71740,69139,41872,813

191,38067,336195,253195, 822122,122

219, 611220,303204,668194,917

151, 324190, 344

50.0067, 43666,006

23,987314, 58634, 696

264,418361,32396, 635358,977

67.3

296,070

71, 085

2,7082, 466243

787635152

89, 38577

16, 995

16,0292,76717,44566.4

16,88314,144

91, 46636,141

5.4588,51873.7

90, 518106, 230

32, 52211,15732,45733, 56571,169

149, 37266,278152,063152, 281122,107

195, 586231,940230,346196,511

162,457200,144

50.0068, 31574, 336

17,966303,06732,653

254,024367, 200109,288351,051

68.5

284,239

82, 091

2,5892,372217

80072080

113,13280

15, 522

17,6873,16017, 74164.9

18,19413, 691

89,87835,123

5.4592, 758

74.392, 345107, 281

34,26811, 58736, 55134,67773,166

159,24366,181161,933161,271123, 360

248,068254.872255,100196,283

187, 450230, 278

50.0072, 82772, 203

18, 590288, 40847, 570

267,193370, 453107, 235370,977

72.4

275, 746

79,007

2,6392,430209

1,1961,074122

116,14081

16, 280

16,6123,41017,05762.4

16, 73014,018

87,92333, 730

5.4592,187

73.889.321109,975

48, 22516,17445,14946, 52671,948

189, 53069.322191,105189, 695124, 683

245,813245,295264,421177,157

176, 322229, 284

50.0078, 39076, 278

20, 702291, 47744, 628

243,924327,16889,586344,445

66.3

274,951

72, 029

2,5472,385

163

900790110

119, 90384

16, 256

15, 7692,71417,09662.6

17, 56312, 776

86,84034,958

5.4585, 77968.7

86,076109,604

32, 75012,69237,81335,15874, 378

142, 22068,956151,076149,033126, 365

211,452209,753225,472161,438

177,134209,782

50.0075, 85577,974

18, 583284,66130, 677

221, 768334, 71194, 411329,181

60.1

290,648

62,309

2,2392,081

158

1,118961157

125,81189

14, 788

16,9613,07116,84563.3

17,31912,070

94,16040,314

5.4589,642

72.591, 667107, 518

34,51111,86436,00135,80365,480

148, 56264,300151,374149,088126, 551

193, 624208, 382201,852167,968

160,916183, 050

50.0077, 26472,967

22,880267,15536,872

233,311342, 408109,099323, 394

61.2

282,095

81, 867

2,2222, 075

146

65960257

111,21187

15, 998

17,9113,55217,79671.6

17,64212,472

88,21836,931

5.4590, 58981.1

89,377107,602

35,06411,18736,68036,02265,384

163,62271,599161, 510159,334129,835

152,437200, 631178,236190, 363

153,346144,308

50.0070,86871,926

21, 822251,04113,449

247,710338,030112,801338,803

67.8

262,344

77,477

2,3042,145

159

876691185

107, 55792

16, 286

19,5534,06020,02871.7

19,91912,581

102,81038,053

5.45102,788

79.9104,196106,435

48,12414,22745,04646, 51163,976

186,43362, 718194,280195, 555126,936

217, 651220,648205,099205,912

174,096189,360

50.0079,92981,616

20,135223,46932, 580

292, 474429,545124, 420421, 576

73.4

248,595

85, 778

2,8272,640

187

945803142

128, 50886

16, 889

16,3053,23817, 75468.6

17,90212,433

92,71239,252

5.4590,289

77.7

106,381

33,29412, 28038,07536,93566,573

145, 74058,629159,353152, 265132,148

162, 352220,843214, 255212, 500

179,542209, 597

50.0077,39377,463

20,065206, 72737, 253

262,918347,57597, 340372,984

69.1

255, 354

85, 267

2,3952,218

177

1,2221,043179

108, 59787

16, 041

17,1262,861

18, 57966.5

17,40913,762

83, 69228,179

5.45

77.489,393

0 58,282

' 37, 294r 9, 52343,04341,166

r 61, 504/

186, 710 \64, 050184, 727180, 344136, 617

244, 400250, 015274, 635187,880

178, 543250, 668

50.0085, 87284, 443

21,494229,14239, 251

264, 348372,89393, 643

375, 77264.2

259, 423

80, 246

2,6272,430197

835708127

116,93584

16, 498

17, 2763.09015,63464.9

15,77115,139

89,68132, 755

5.4587,953

73.984, 862" 60,981

31,538r 8, 79633,49132, 216

\62, 669

146,404r 64,100140,193147,601128,900

244, 655240,545232, 261196,164

170,980216, 580

50.0080, 56284, 628

17, 428230,44347, 737

259,996383, 37195,058

376, 509

255, 677

80,115

2,6242,388

236

53799

128, 58381

16,466

RUBBER AND PRODUCTS

CRUDE AND SCRAP RUBBER

Crude:Consumption, total long tons. .

For tires and tubes (quarterly) doImports, total, including latex § doPrice, smoked sheets (N. Y.) dol. per lb__Shipments, world long tons..Stocks, world, end of month. do

Afloat, total doFor United States do

London and Liverpool doBritish Malaya doUnited States d o . . . .

Reclaimed rubber:Consumption doProduction .doStocks, end of month do

Scrap rubber:Consumption by reclaimers (quar.) do

50,481

38,408.167

6,717

161,233

16,84617, 21420,645

40, 552

31,674.166

74,000565, 394101, 00047, 77299, 61490, 939

273,841

11,45511,31713, 918

40,18379, 92835,066

.16170,000

551, 44796, 00048, 92798,14089, 213

268, 094

12, 04112, 98514, 286

25, 044

42,850

34, 325.169

75, 000540, 976

99, 00051, 06293, 27289, 630

259, 074

12, 59914, 65215, 845

49, 050

32, 924.163

68,000512,19692, 00051,11490, 07387, 531

242, 592

13, 52215,12417, 083

48,14392, 02137, 294

.16358,000

482, 85280, 00045,10586, 85384, 499

231, 500

13, 09615, 89923, 000

36, 248

46, 234

36, 857.158

86, 000497, 665105, 000

48, 21080, 64390,142

221, 880

13, 00013, 76321, 960

42,365

30, 826.159

77, 000479, 578106, 000

55,81475, 51787, 96821,093

12, 62613, 09321, 390

50,16599, 03945,496

.16375, 000

460, 723102, 000

55, 98172, 63581, 274

205, 214

15, 32214, 52819, 955

36,496

44,166

31, 854.159

74,000438, 252

99, 00057,91868, 93177, 683

192, 638

13, 39114, 52722, 628

44,377

45, 784.166

70,000429,97996,00054,04666,02074,308

193,651

13, 51714, 76922, 771

47, 259• 90,952

34, 272.164

66,000407,630

' 88,00051, 27463, 87875, 409

180,343

14, 87015, 87123,058

34,204r Revised. 'Estimated.° Change in inventory due to physical check-up. Figures prior to May 1939 not comparable with later data.tFor book paper, see note marked with a "t" on p. 51 of the July 1939 Survey. Stocks of newsprint at publishers, and in transit to publishers, revised for 1937 and 1938

revisions not shown on p. 52 of the April 1939 Survey will appear in a subsequent issue.§Data revised for 1937; see table 20, p. 15 of the April 1939 Survey.



1939

August

1938


berDecem-

ber

1939

Janu-ary


RUBBER AND PRODUCTS—Continued

TIRES AND TUBES

Pneumatic casings:tProduction __ thousands.Shipments, total do . . .

Original equipment*... _ d o . . .Replacement equipment* doExports* do . . .

Stocks, end of month* doInner tubes:f

Production , doShipments, total . . . _ do . . .

Exports* do . . .Stocks, end of month do . . .

Raw material consumed:Crude rubber. (See Crude rubber.)Fabrics (quarterly)-. thous. of lb_

RUBBER AND CANVAS FOOTWEAR

Production, total thous. of pairs.Shipments, total . do . . .Stocks, total, end of month__ do_._

5,4924,919

6114,205

1038,891

4,9184,432

658,238

5,0906,213

16,956

4,0383,991

2663,646

798,217

4,0263,744

498,029

4,2545,803

17,897

3,9163,888

6783,123

868,022

3,8323,980

537,859

49 441

4,7096,360

16,246

4,1834,1261,2872,729

1098,237

3,9804,101

577,746

5,0674,991

16, 321

4,1394,4051,7772,544

847,924

4,0294,138

557,665

5,5136,139

15, 695

4,7294,1541,7072,348

998,451

4,3513,859

558,166

58,376

5,5235,035

16,183

4,5814,1631,6852,397

818,932

4,0983,936

718,069

4,8074,778

16,157

4,3443,7391,4722,156

1119,573

3,6813,335

658,415

4,9534,629

16, 582

5,1374,5831,7472,723

11310,109

4,4704,015

748,901

59,801

5,8975,214

17,281

4,2114,3561,5292,719

1089,998

3,8413,927

828,837

5,2164,414

18,083

4,4184,7531,4153,239

1009,919

3,8484,154

678,840

5,0334,017

19,055

4,8705,7501,3704,267

1138,909

4,3205,123

668,044

• 62,419

4,8664,192

19, 729

4,5105,056

8094,162

858,300

4,0434,285

627,819

3,2804,894

18,115

STONE, CLAY, AND GLASS PRODUCTS

PORTLAND CEMENT

Price, wholesale, composite dol. per bbl_Production .thous. of bbl.

Percent of capacityShipments thous. of bbl.Stocks, finished, end of month _ do . . .Stocks, clinker, end of month do . . .

CLAY PRODUCTS

Bathroom accessories:Production thous. of pieces.Shipments do__.Stocks, end of month „_„ d o . . .

Common brick:Price, wholesale, composite, f. o, b. plant

dol. per thous.Shipments thous. of brick.Stocks, end of month do__.

Face brick:Shipments doStocks, end of month do._.

Floor and wall tile shipments:*Quantity thous. of sq. ft_Value thous. of dol.

Vitrified paving brick:Shipments thous. of brick..Stocks, end of month do___

Hollow building tile:Shipments short tons.Stocks, end of month do

GLASS PRODUCTS

Glass containers:Production thous. of gross.

Percent of capacityShipments thous. of gross.Stocks, end of month do

Illuminating glassware:Shipments, total thous. of dol..

Residential doCommercial do . . .Miscellaneous do

Plate glass, polished, production.thous. of sq. ftWindow glass:

Production thous. ofboxes.Percent of capacity

GYPSUM AND PRODUCTS

Crude:Imports short tons.Production do . . .

Calcined production doGypsum products sold or used:

Uncalcined doCalcined:

Lath thous. of sq. ft.Wallboard do . . .Keene's cement.. _ short tons.All building plasters do . . .For manufacturing uses d o . . .Tile thous. of sq. ft..

0)12,369

56.613,80420,9265,703

1,0501,213

376

12.038

4,80271.4

4,7538,548

()10,450

86753.4

1.66711,007

50.4II, 82322, 5345,902

1,0631,015

200

11.902148,809428, 780

51,915267, 844

4,7611,381

10, 77855,423

62,186349, 271

4,03165.0

4,1788,149

42120014180

7, 676

43426.7

1.66710, 559

49.911, 71621, 3745.506

862841215

11. 895142,900454, 393

47,828268, 583

4,2671,235

8,04654, 396

345,089

3,65363.6

3,9717,641

50726614893

8,873

52232.1

313,120806,957650,804

228,375

251, 764

6,591432, 77934, 5234,991

1.66711,55652.9

12, 35720, 5694,927

1,1191,130193

11. 925166, 471482,830

52,402267,016

4,3311,243

9,59152, 999

62,410333,782

3,86664.73,9547,493

551285153113

12,869

64139.5

1.66710,18448.28,57322,1794,963

1,1891,070195

12. 039151, 568482,032

45, 701272, 200

3,9961,129

7,20651,323

54, 762335, 707

3,70964.6

3,4917,643

532288133111

12,883

54.4

1.6678,06636.96,29023,9545,282

953891219

12.046133,184478,260

37, 307283,017

3,261956

7,19148,127

46,815347,147

3,51558.83,0428,029

44322712591

12, 691

1,00361.7

247, 673683,127534,415

192,931

214,15189, 6784,884

333, 73036, 5174,885

1.6675,30124.35,64023,6105,563

831795255

12.023101,056476,359

34,499292, 565

3,549981

4,27648, 763

50, 024342,408

3,58955.83,4738,179

44321713097

12,209

94358.1

1.6675,50727.95,04324,0925,986

728673321

12.02495, 920455,859

28, 785300, 546

3,562959

2,00748, 585

43,643348, 792

3,38955.73,3238,192

35718510765

10,165

49.8

C1)8,17137.48,46723, 7866,447

720350

12.032166, 380397,838

57,624290,906

4,9691,285

3,99447, 336

72, 546340,348

4,12961.43,9338,318

39620111679

11,867

91256.1

40,423541,183533,440

139, 248

207,41895, 9815,506

331, 70226, 2335,228

0)9,67445.79,65423,8376,568

583552374

12.026178,903374,572

62,982277,291

4,6391,208

3,61245, 761

81, 994327,847

4,07165.43,9788,336

()7,268

74045.6

0)11,18550.9

12, 74822,2515,728

762792377

12.077209, 716351,155

79,349256, 825

4,7371,282

6,64743,002

105,173307,810

4,51669.7

4,4858,293

()

8(2)8,036

72944.8

0)11, 953

56.512, 71521, 4775,788

814819382

12.118199, 945361, 264

r 69, 489252, 395

r 5,169r 1,423

6,844'44, 079

••96,288306,435

4,66272.0

4,6188,209

()9,289

72044.3

291, 810845, 524773, 634

244,163

297, 267113, 721

7,781486,494

25, 5158,581

0)12, 644

57.911, 755

p 22,361r5,941

1,027908

12. 059177, 718393, 393

62, 658248,673

4,9821,348

44,214

94 721307,727

4,58173.6

4,136

()6,212

42.6

' Revised. • E stimated.i Discontinued by compilers; data on an index basis appear on p. 20. * Discontinued by reporting source.*New series. For data on floor and wall tile beginning 1935, see table 31, p. 18 of the June 1939 Survey. For the new series on pneumatic casings and inner tubes, see

tables 27 and 28, pp. 16-18 of the May 1939 Survey.fRevised series. Data for pneumatic casings and inner tubes revised for 1936, 1937, and 1938; see tables 27 and 28, pp. 16-18 of the May 1939 Survey.



1939

August

1938


berDecem-

ber

1939

Janu-ary


TEXTILE PRODUCTS

CLOTHINGHosiery:

Production thous. of dozen pairs..Shipments doStocks, end of month .do

COTTON

Consumption bales..Exports (excluding linters)§ thous. of bales.-Imports (excluding linters)§ .doPrices:

Received by farmers ...dol. perlb__Wholesale, middling (New York) do

Production:Qinnings (running bales)•__thous. of balesCrop estimate, equivalent 500-lb. bales..do

Receipts into sight doStocks, world, end of month* ..do

American cotton doIn the United States do

On farms and in transit doWarehouses .doMills... .do. . . -

In foreign countries doForeign cotton _ do

COTTON MANUFACTURES

Cotton cloth:Exportsf .thous. of sq. yd..Imports! doPrices, wholesale:

Mill margins* cents per lb._Print cloth, 64 x 60. _ dol. per yd__Sheeting, brown, 4 x 4 ..do

Finished cotton cloth:%Production:

Bleached, plain _ thous. of yd._Dyed colors do.Dyed, black do.Printed do.

Spindle activity:Active spindles thousands._Active spindle hrs., total ..mil. of hrs..

Average per spindle in place hours. _Operations! ..pet. of capacity..

Cotton yarn:Prices, wholesale:

22/1, cones (Boston) dol. perlb..40/s, southern, spinning do.

12,44812,92424,634

628,44821913

.094

1,4026 12,380

870

21, 8786,776

.047

.053

137,722102,281

7,30599,242

22,0127,908

31385.1

.240

.349

7923,423

.5118.4

33,0954,495

2.641

81, 06025, 060

16, 709

24, 7079,604

82199

77, 20177,698

145

.73.33

1.683

1.015

1.15

11,30411,71221,033

559,409201

18

.081

.084

1,336

67447, 58424,29722,15011,3539,7821,0152,147

23, 287

21,9645,089

11.42.044.054

130,49888,3626,74196, 417

' 22,158' 7, 380

.223

.335

9294,409

.5141.1

38, 5044,975

1.729

135, 34739, 747

9,727

23,1366,025

143

74,71069, 644

145

.71

.30

1.535

1.040

1.05

11,14612,44019, 891

533,39938911

.082

.081

6,577

' 2, 57545, 35323,42821,2907,244

12, 9751,0712,138

21, 925

26,3424,981

11.23.043.053

128, 64288, 6195,877

89, 396

' 22,184'6,912

"•264'76 .0

.223

.335

9103,145

.5134.6

38, 8445,524

1.759

142,51140,711

12, 281

19, 6196,386

1,33977

164

66, 02262, 851

117

.70

.29

1.535

1.040

1.05

11,84811,95719,933

543,857'464

11

.085

.086

10,125

' 3,03043, 07522,53520, 3033,550

15, 2831,4702,232

20, 540

27,9035,818

10.88.045.054

134,92995, 3726,379

102, 278

'22,113' 7,119

27381.9

.230

.337

7043,147

.5136.1

35, 6315,417

1.854

151,31143,811

15, 373

24, 6198,660

1,33586

167

66, 84070, 205

120

.71

.31

1.535

1.040

1.06

11, 73111, 97319,843

596,416'480

14

.085

.091

11,231

' 1, 73940,70121, 57319, 2422,024

15, 5391,6792,331

19,128

28,5444,912

10.78.045.054

134,661

ioo, :oo6,617

109,136

' 22, 447' 7, 564

'290'83 .4

.240

.341

RAYON AND SILKRayon:

Deliveries, unadjusted! 1923-25=100..Imports! thous. of lb..Price, wholesale, 150 denier, first quality

(N. Y.) dol. per lb_.Stocks, end of mo.*. mil. of lb._

Silk:Deliveries (consumption) bales..Imports, raw thous. of lb_.Price, wholesale, raw, Japanese, 13-15 (N. Y.)

dol. per lb_.Stocks, end of month:

Total visible supply bales. -United States (warehouses) do

WOOLImports (unmanufactured)! thous. of lb_-Consumption (scoured basis) :J

Apparel class d o —Carpet class d o —

Operations, machinery activity (weekly aver-age) :1

Looms:Woolen and worsted:

Broad thous. of active hours..Narrow _ d o —

Carpet and rug- _ -do—Spinning spindles:

Woolen - . doWorsted d o —

Worsted combs d o —Prices, wholesale:

Raw, territory, fine, scoured dol. per lb_Raw, Ohio and Penn. fleeces.. __doSuiting, unfinished worsted, 13 oz. (at fac-

tory) dol. per yd.Women's dress goods, French serge, 54" (at

mill) dol per yd_.Worsted yarn, 32's, crossbred stock (Boston)

dol. per lb.

' Revised. • Total crop. h As of September 1.• Total ginnings to end of month indicated.f Revised series. Cotton spindle activity revised beginning August 1933; see table 18, p. 18, of the March 1939 issue. Data on rayon deliveries revised beginning January

1936; revisions not given on p. 94 of the February 1939 Survey will appear in a subsequent issue. Data on cotton cloth exports revised beginning 1913; revisions not shownon p. 54 of the August 1939 Survey will appear in a subsequent issue.

t See note marked with a "%" on p. 54 of the July 1939 Survey.*New series. The data on cotton stocks shown here are compiled by the New York Cotton Exchange and replace the data compiled by the Commercial and Financial

Chronicle. Data beginning 1920 appear in table 34, pp. 15 and 16 of the August 1939 Survey. For cotton cloth mill margins, data beginning 1925 not shown on p. 54 of theAugust 1939 Survey will appear in a subsequent issue. Data on rayon yarn stocks, poundage basis, have been substituted for the series formerly shown, which was on basisof number of months' supply. Figures beginning January 1930 not shown on p. 94 of the February 1939 Survey will appear in a subsequent issue.

§ Revised series. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.^ Data for October and December 1938, January, April, and July 1939 are for 5 weeks; other months, 4 weeks.

5952,031

.5140.0

41, 5996,437

1.801

150, 71846, 218

16, 302

23,5127,716

1,52989

171

71,11085,954

146

.74

.32

1.624

1.040

1.12

10, 86310, 64120,217

565,627368

11

.082

.087

11,41211,944

'89238, 35020,64718,3451,390

15,2941,6612,302

17, 703

30,0246,188

10.69.043.051

141,266102, 504

6, 369118,926

' 22, 433' 7,185

'27682.3

.225

.338

6911,781

.5139.5

35, 2045,542

149,77853, 278

18,162

29, 6889,501

1,75981

177

73, 27797, 019

149

.73

.31

1.634

1.015

1.11

11, 23510, 21121, 301

598,13229012

.083

11, 553

'43735,98819, 67917,4751,141

14, 7451,5892,204

16, 309

21, 7428,534

10.46.043.050

127,16591,1154.780

107, 960

' 22, 497' 7, 642

29585.7

.220

.335

7452,877

.5139.4

40, 8165,039

124, 35448, 554

21,938

25,9419,784

1,92479

186

73, 48087, 770

129

.73

.31

1.634

1.015

1.10

11, 37410, 53522, 201

562,580264

.082

.090

' 41833, 70018, 75416,6471,093

14,0341,5202,107

14,946

28,1459,210

10.05.042.050

126,64193,483

5.130106, 396

' 22, 533'7,164

27787.8

.224

.335

7353,395

.5139.5

33, 2193,040

2.114

98,07838,178

17,274

22,4498,776

1,94278

209

73,13082, 226

137

.73

.32

1.646

1.015

1.13

13,19813,14222,317

649,94033010

.083

.090

• 11, 623

'42831,23017, 72215, 709

87313,4581,3782,013

13, 508

34, 50510,108

10.11.043.050

144,021109, 652

6,633127,815

' 22, 503' 8, 243

319'86 .7

.225

.335

6703,955

.5141.1

37, 8633, 555

2.218

86,81623,116

25,441

21,1109,856

1,58075

213

60,04177, 747

124

.72

.30

1.683

1.015

1.13

11,02410, 57722, 823

543,18717813

.082

'27629,15016,81715,021

82712,940

1,2541,796

12,333

30,6096,566

10.01.042.049

127,85897,2704.962

109, 250

' 22,123' 6, 895

'269'84 .7

.225

.335

3,457

.5143.4

27, 8023,943

2.393

77, 23820,738

16,826

19, 5678,159

62198

55, 70467, 613

95

.28

1.683

1.015

1.13

11, 79610,89123, 789

606,09014314

.085

.096

'29626,80715,88014,291

82012,3391,1321,589

10,927

24,1705,581

9.33.042.049

131,71598,292

5,782108,736

' 21, 970' 7, 573

'297'81 .9

.228

.335

6693,322

.5141.5

26,1503,592

2.689

61,60124,201

20, 542

20, 2445,852

1,57369

175

63,24879,174

117

.69

.30

1.683

1.015

1.13

11,21810, 29424, 773

578,43611412

.087

'32824,13314,93613, 609

72111,915

9731,3279,197

28. 2877,151

9.84.045.052

127,10489, 020

5,84390, 265

' 21, 771' 7,399

'290' 82 .5

.235

.335

8674,159

.5132.6

26, 2564,050

2.534

60, 70919, 209

14, 771

23, 7726,291

1,79173

178

72,48982, 819

136

.71

.32

1.683

1.015

1.13



1939

August

1938


berDecem-

ber

1939

Janu-ary


TEXTILE PRODUCTS—Continued

WOOL—Continued

Receipts at Boston, total thous. of lb.Domestic do_._Foreign do

Stocks, scoured basis, end of quarter, totalthous. of lb.

Woolen wools, total do.._Domestic doForeign do_._

Worsted wools, total _ _do...Domestic— _ do._.Foreign.... do . . .

MISCELLANEOUS PRODUCTS

Buttons, fresh-water pearl:Production pet. of capacityStocks, end of month thous. of gross

Fur, sales by dealers thous. of dolPyroxylin-coated textiles (artificial leather) :f

Orders, unfilled, end of mo.-thous. linear yd.Pyroxylin spread thous. of lbShipments, billed thous. linear yd.

39,22835,2873,941

30.35,753

v 2,125

2,4155,5815,143

44,50642,0692,437

32.26,9104,631

1,8904,8494,429

16,04710,0216,026

147,59748, 27640, 2248,05299,32184, 38314,938

41.37,0371,465

2,1964,9984,389

22,22218,4873,735

37.87,1551,515

1,9084,9224,516

24,34121, 2393,103

36.37,2291,242

1,9174,2894,168

13, 6789,0094,670

115,65546,68637,0659,621

52,51716,452

30.47,1881,524

2,1454,6924,551

15,5395,37410,164

23.06,4802,477

2,4515,2704,785

11,8206,6605,160

39.26,5072,900

2,2235,0795,119

13, 6085,9397,669

94, 50639,01929,4589,56155,48733,45222,035

39.26,6073,551

2,1885,4025,505

17,17310,2416,932

34.66,6412,260

2,2524,6434,576

31,46125, 6415,820

25.26,3792,561

1, 8874, 7274,759

55, 61451, 4014,213

122,91539, 42131,1918,23083,49463,12820,366

28.46,2322,375

2,0874,7104,387

55, 85551, 2474,109

26.35,873

v 1,878

2,2434,3513,971

TRANSPORTATION EQUIPMENT

AIRPLANES

Production, total? number.Commercial (licensed) ___do__.For export do. . .

AUTOMOBILESExports:

Canada:Assembled, total .number..

Passenger cars ..doUnited States:

Assembled, total§_ doPassenger cars§ „ doTrucks§ _ do

Financing:Retail purchasers, total .thous. of dol._

New cars _ doUsed cars. _ doUnclassified.._ do

Wholesale (mfrs. to dealers) doFire-extinguishing equipment, shipments:

Motor-vehicle apparatus number_ _Hand-type.. do

Production:Automobiles:

Canada, total ..doPassenger cars. . . do

United States (factory sales), total doPassenger cars doTrucks do

Automobile rims thous. of rims..Registrations:

New passenger cars number..New commercial cars ..do

Sales (General Motors Corporation):To consumers in U. S doTo dealers, total doTo U. S. dealers do

Accessories and parts, shipments:Combined index Jan. 1925=100..

Original equipment to vehicle manufac-turers Jan. 1925=100..

Accessories to wholesalers doService parts to wholesalers doService equipment to wholesalers do

RAILWAY EQUIPMENT(Association of American Railroads)

Freight cars, end of mo.:Number owned thousands^-

Undergoing or awaiting classified repairsthousands. _

Percent of total on lineOrders, unfilled cars__

Locomotives end of mo.:Undergoing or awaiting classified repairs

number.-Percent of total on Kne._

Orders, unfilled. number.-(17. S. Bureau of the Census)

Locomotives:fOrders, unfilled, end of mo., total..-number..

Domestic, total doElectric __doSteam... .do

6,1544,804

11, 5923,9857,607

3,4751,068

99, 86861,38438,484

971

182, 63343, 523

76,12019, 8957,436

117

104166106

1,650

22513.8

8,754

8,33720.0

63

1221187246

26419074

3,9122, 558

11,1425,3475,795

80,84740,34739,927

57240,037

5432, 321

6,4523,06390,49458, 62431,870

468

127,95434, 231

64,92555,43134, 752

79

58104143

1,701

23814.28,892

8,10818.914

24618363

3,4602,399

10,8882,808

62, 56129,17432,948

43926, 769

5732,124

6,0894,290

83, 53465,15918, 375

819

93, 26926, 570

40, 79636,33516,469

104

9113616191

1,691

23113.8

7,459

8,07518.9

14

182128

54

2,9461,753

17,02410,930

62,38530,34431,613

42861,359

6230,816

5,7745,412

209, 512187,49422,0181,312

119,05319, 589

123,83592,890

133

129133167

1,690

23514.1

5,153

8,15519.1

7

20415945

2,7472,406

29,04320,1728,871

86,04751, 26634, 260

521126, 650

4428,509

17,99215,423

372,413320, 34452,0691,723

200,85323,943

131, 387200,256159,573

136

150126142

1,686

23313.9

4,335

8,13319.1

17

276174102

5,0243,835

34,97821, 32213,656

92,45254,93337,955

564158, 289

7327,479

18,61414,198

388,346326,006

62, 3401,818

226, 97331,474

118,888187,909150,005

138

15712912183

1,682

23114.0

5,080

7,88118.6

30

1009284

8,499

23,95815,1268,832

76,39040, 69435, 281

415134,150

4430,649

14, 79411, 404

342,156281, 465

r 60, 6911,714

203,21237, 715

152,746116,964

16013112991

1,672

22513.7

6,637

8,08419.1

25

10088835

6,0434,222

27,35116,19311,158

76, 77640,37435,975

427124,021

5829,878

14, 30010,914

303, 217243, 00060,2171,443

164, 94233,279

83, 251153,886115,890

139

14014012995

1,668

22513.7

6,788

8,05319.1

63

123113

45

6,3154,526

30,04817,98412,064

113,84764, 35048,915

582153,007

8335, 331

17, 54912, 689

371,940299,703

72, 2371,730

248,03845,083

142,062182,652142,743

147

153142141105

1,664

21413.0

6,502

8,14919.3

62

1321226260

2,2741,592

27,08716, 21310,874

114, 69666,06448,014

618150,433

6534,790

16,89112, 791

337,372273,40963,9631,348

268, 33546,063

132, 612158,969126, 275

136

129132150105

1,662

22113.5

6,391

8,17519.4

61

1481387860

5,4804,075

25, 22014, 43010, 790

133,70775, 30457, 649

754140, 284

7635,501

15, 70611,585

297, 508237, 870

59, 6381,244

280, 83445, 381

129, 053145, 786112, 868

120115154108

1,657

23114.2

9,261

8,64020.6

63

16916010060

6,0274,630

27,08716,21310, 874

130, 67173,02257,028

621118, 268

9037, 606

14, 51510, 585

309, 720246,704

63, 0161,020

243, 74140, 482

124, 618156, 959124,048

125

115113166108

], 654

22313 7

10,062

8.38220.1

60

1511438063

4,8213,040

19,1838,375

10,808

114,48164, 00349, 932

54596, 621

7535, 527

9,1355,112

209, 343150, 738

58, 605681

229, 30844, 747

102,031100, 30271,803

110

9411315497

1..653

22914.0

8,448

8, 05920.3

72

14814484

' Revised. » Preliminary.fRevised series. Data on pyroxylin-coated textiles revised beginning January 1938 to include figures for 2 small establishments not previously reporting, and to excludt

those of one establishment not currently reporting; data for the full year 1938 appear on p. 54 of the April 1939 Survey. Data on shipments and unfilled orders, locomotives,revised beginning January 1939 on the basis of a more definite segregation between railroad locomotives shown here and mining and industrial locomotives shown on p .56Quarterly data beginning 1939 are available from the Bureau of the Census for Diesel-electric, Diesel-mechanical, and gasoiine-mechanical or steam locomotives, in ad-dition to the data here shown on p. 56 which are for trolley or third-rail and storage-battery locomotives.

^Exclude military planes for domestic use.§Revised series. Data revised for 1937; see table 19, p. 14 of the April 1939 Survey.



1939

August

1938


berDecem-

ber

1939

Janu-ary


TRANSPORTATION EQUIPMENT—ContinuedRAILWAY EQUIPMENT—Continued

(17. S. Bureau of the Census)Locomotives—Continued.^

Shipments, domestic, total number..Electric doSteam . do

Industrial electric (quarterly):Shipments, total do

For mining use - - do.-(American Railway Car Institute)

Shipments:Freight cars, total number

Domestic . . _ doPassenger cars, total do

Domestic do(U. S. Bureau of Foreign and Domestic Commerce)Exports of locomotives, total§ number. _

Electric§ ___ doSteam doINDUSTRIAL ELECTRIC TRUCKS

AND TRACTORSShipments, total number

Domestic _ - ___doExports . do

WORLD SHIPBUILDING(Quarterly)

Launched:Number - - ships _Tonnage thous gross tons

Under construction:Number shipsTonnage thous. gross tons..

341816

813804

99

215

16

8986

3

1385

5735502222

1578

695811

312

6059

2,3362,308

1919

642

60519

254807

6852,712

1046

1,6621,655

33

23221

42339

770

1,1361,023

09

330

463610

21183

102101

1,1981,198

00

19181

756213

249705

7042,669

21183

1,1481,148

77

110

5047

3

16160

1,9171,917

00

1192

53530

2323o

5652

2,1942,174

00

21138

86860

247690

7162,704

2424o

1,3121,312

1212

990

7065

5

1919o

279279

1515

217

14

736310

3131o

9796

2,1492,148

99

1082

78717

249549

7192,859

18153

877877

1818

862

69618

CANADIAN STATISTICSPhysical volume of business:

Combined index 1926=100..Industrial production:

Combined index doConstruction doElectric power do _Manufacturing doForestry doMining do _

Distribution:Combined index do _

Carloadings doExports (volume) doImports (volume) doTrade employment do

Agricultural marketings:Combined index do

Grain _ do .Livestock do

Commodity prices:Cost of living doWholesale prices do

Employment (first of month):Combined index do

Construction and maintenance doManufacturing . do._ _Miining doService doTrade - -doTransportation do

Finance:Banking:

Bank debits mil. of doL.Commercial failures* . numberLife insurance sales, new paid for ordinaryf

thous. of doL.Security issues and prices:

New bond issues, total doBond yields - . 1926=100Common stock prices do

Foreign trade:Exports, total thous. of dol._

Wheat thous. of bu_.Wheat flour thous. of bbl

Imports - - doRailways:

Carloading thous of carsFinancial results:

Operating revenues thous of dolOperating expenses . . doOperating income _do_.

Operating results:Freight carried 1 mile mil. of tonsPassengers carried 1 mile mil. of pass

Production:Electrical energy, central stations

mil of kw-hrPig iron thous. of long tons..Steel ingots and castings do . . .Wheat flour thous. of b b L .

83.072.4

117.5146.3112.8165.6149.8135.587.5

9928, 558

113, 45062.994.2

66122

110.5

110.852.5

218.3100.9102.2198.6

109.576.3

127.182.6

131.9

89.291.977.0

84.976.0

112.1128.0110.0153.6143.5132.186.9

2,371102

28,446

51, 39962.7

105.2

86, 5386,266

28657,026

213

28,43926,1031,095

2,063172

2,0764983

1,103

119.2

120.752.8

223.6114.2110.2202.1

114.981.0

162.684.4

134.0

123.9135.174.0

84.174.5

115.1133.8113.8157.4146.7131.088.7

2,65581

27, 928

51, 47465.398.6

108, 54212, 615

32056, 412

250

34,50426, 9196,375

3,389153

2,1645074

1,639

118.6

121.161.7

220.9113.2107.1201.4

111.576.0

132.089.1

133.7

145.6162.769.0

83.974.1

116.7143.5112.5160.8136.1134.590.1

2,97692

32, 372

108, 95863.2

109.7

102, 71924, 579

52963, 909

257

37, 60925, 68110, 684

3,924119

2,3295176

1,906

123.4

128.348.4

226.4125.3112.8206.6

109.274.2

122.785.7

132.5

101.6106.679.1

83.873.5

114.6122.5110.9163.4132.8135.687.9

2,965122

37,167

104, 93061.5

110.4

94, 07521, 704

47863, 304

219

30, 43122, 6616,502

2,668101

2,3764690

1,606

115.6

118.162.7

221.6111.3111.7183.1

108.673.7

100.075.8

137.0

85.788.473.6

83.673.3

114.0112.8110.1163.3131.7139.785.0

2,90571

36, 475

86,14261.8

106.8

70, 45215, 983

36544, 286

178

27, 52122, 6333,597

2,100166

2,3505379

1,052

113.0

114.240.3

230.0111.1120.7176.8

109.370.7

141.277.6

133.8

52.046.377.9

83.373.2

108.196.4

104.3160.4131.7144.879.9

2,512120

30,434

139, 51562.1

102.9

81, 7737,879

38043, 743

171

23, 79822, 923

<*382

1,871123

2,3875878

1,098

111.7

114.156.2

232.3105.0111.6190.9

104.966.7

110.171.7

133.4

32.323.571.7

83.173.2

106.589.4

106.0160.5129.5131.079.4

2,050121

30,879

54, 65761.9

104.1

62, 3995,746

29140, 380

160

22, 65222, 921^ 1,490

1,707122

2,2144177

1,037

113.2

115.247.5

233.1107.6110.4196.7

107.471.8

108.473.9

135.0

48.140.781.2

83.173.2

106.594.3

107.0160.9128.5128.980.3

2,42899

33, 578

128, 30461.1

103.7

77,1996,564

36158, 381

191

25, 70024, 333

193

2,054127

2,3674196

1,194

116.7

119.151.3

226.4109.5120.2219.6

109.669.2

126.978.0

137.2

60.358.568.1

83.173.4

104.991.6

107.1157.4131.4131.179.3

2,47394

28, 229

151,08363.096.2

56, 5072,832

27541, 908

179

25,19122, 9061,029

1,957129

2,19746

1001,114

121.4

123 348.6

235.5113.3112.6232.7

115.981.1

138.091.2

138.0

102.6105.987.5

83.173.7

106.294.2

108.4155.8133.2135.181.4

2,83989

33, 657

210,42162.499.2

94,88313, 655

51672,958

215

29,68025,2613,190

2,431134

2,33358

1211,192

121.4

124.459.4

238.8112.9120.6228.9

112.971.3

145.887.7

137.5

40.533.870.5

82.973.3

113.1115.3111.4160.5141.8136.686.5

2,83183

35, 766

112,40060.197.0

94, 50114, 637

40163, 709

195

26,16024, 296

601

1,819168

2,24553

1081,188

120.4

123.853.2

235.5112.2114.2238.4

110.576.8

145.485.3

135.5

76.876.578.3

83.172.6

115.8133.1111.3164.1147.6137.487.6

2,37793

32, 244

73, 63360.197.3

91, 72913,781

40358, 580

196

2,20560

1111,106

* Deficit.•New series. Data compiled by Dun and Bradstreet, Inc., have been substituted for those compiled by the Dominion Bureau of Statistics; data beginning January 1934

will appear in a subsequent Survey.§Revised series. Data revised for 1937; see table 19. p. 14 of the April 1939 Survey.fData on life insurance sales revised beginning January 1936. Revisions for 1938 appear on p. 56 of the September 1939 Survey. Earlier revisions will be shown in" a

subsequent issne.ISee footnote marked with a "t"on p. 55. •. $. GOVERNMENT PRINTING OFFICE: m»

INDEX TO MONTHLY BUSINESS STATISTICS

CLASSIFICATION, BY SECTIONS

Monthly business statistics: PageBusiness indexes 19Commodity prices 20Construction and real estate 21Domestic trade 23Employment conditions and wages _ . 25Finance 30Foreign trade 36Transportation and communications. 3 7Statistics on individual industries:

Chemicals and allied products 38Electric power and gas 40Foodstuffs and tobacco 41Fuels and byproducts 45Leather and products 46Lumber and manufactures 47Metals and manufactures:

Iron and steel 48Nonferrous metals and prod-

ucts 49Machinery and apparatus _ „ 50

Paper and printing 51Rubber and products 52Stone, clay, and glass products 53Textile products 54Transportation equipment 55

Canadian statistics 56

CLASSIFICATION, BY INDIVIDUALSERIES

Abrasive paper and cloth (coated). .„Acceptances . ._Accessories—AutomobileAdvertisingAgricultural products, cash income received

from marketings of -Agricultural wages, loansAir-conditioning equipmentAir mailAirplanesAlcohol, denatured, ethyl, methanolAluminumAnimal fata, greasesAnthracite mining 19,26,Apparel, wearing _.__-- 20, 24, 25, 26, 27, 28,AsphaltAutomobiles _ 19, 23, 24, 25, 27, 28,Babbitt metalBarleyBathroom accessoriesBeef and vealBeverages, fermented malt liquors and dis-

tilled spiritsBituminous coal 19, 20, 26,Boilers... __ _Bonds, prices, sales, value, yieldsBook publicationBoxes, paper

BrickBrokers' loansBronze .Building contracts awardedBuilding costsBuilding materials 20,Building permits issuedButterCanadian statisticsCanal trafficCandy _Capital flotationsCarloadingsCattle and calvesCellulose plastic productsCementChain-store salesCheese..-- _Cigars and cigarettesCivil-service employeesClay products- 25, 27, 28,Clothing _ 20, 24, 25, 26, 27, 28,Coal_._ . 19, 20, 26,CocoaCoffeeCokeCollections, department storesCommercial failuresCommercial paper.-Construction:

Contracts awarded, indexesCosts __Highways. _ _Wage rates

Copper _Copra and coconut oilCost-of-living indexCotton, raw and manufacturesCottonseed, cake and meal, oil

20,

Page52305523

2029,30

5023

38,55384939

28,4529,54

4629,55

49425343

4128,4548,4930,35

525250533050

21,2222

47,5321,22

4156

37,3844

33,34374340

19,532441

44,4526

29,5329,5428,45

444445243130

21,22222229493920

21,5439

PageCrops. _ 19, 20, 42, 43, 44, 54Currency in circulation 32Dairy products 19, 20, 41, 42Debits, bank _ ___. - . 30Debt, United States Government 32Delaware, employment, pay rolls . 26, 27, 29Department-store sales and stocks 24Deposits, bank ._ _ 31Disputes, industrial 27Dividend payments 35Earnings, factory, average weekly and

hourly „ 28, 29Eggs 19,20,44Electrical equipment 51Electric power, production, sales, revenues._ 40,41Electric street railways 37Employment:

Cities and States. 26Nonrnanufacturing 26

Emigration 38Enameled ware 49Engineering construction 22Exchange rates, foreign 32Expenditures, United States Government 32Explosives ___ _ 38Exports 36Factory employment, pay rolls 25, 26, 27, 28Fairchild's retail price index 20Fares, street railways 37Farm prices, index 20Federal Government, finances 32,33Federal-aid highways 22,29Federal Reserve banks, condition of 30Federal Reserve reporting member bank

statistics 30Fertilizers _ 39Fire-extinguishing equipment - 55Fire losses 23Fish oils and fish.. 39,44Flaxseed . . . 40Flooring, oak, maple, beech, and birch 47Flour, wheat __ 43Food products 20,25,26,28,29,41Footwear _._ 46,47,53Foreclosures, real estate 23Foundry equipment 50Freight cars (equipment) 55Freight carloadings, cars, indexes 37Freight-car surplus «.» 37Fruits... _. 20,42Fuel equipment 50Fuels _ 45,46Furniture. 48Gas, customers, sales, revenues 41Gas and fuel oils . 45,46Gasoline 46Gelatin, edible - __. 44General Motors sales 55Glass and glassware 19, 25, 27, 28, 29, 53Gloves and mittens 46Gold 32Goods in warehouses 23Grains __ 20,34,42,43Gypsum 53Hides and skins 21,46Hogs _ 43Home loan banks, loans outstanding 23Home mortgage insurance . 23Hosiery . 54Hotels _. 26,28,38Housing 20, 22, 23Illinois, employees, factory earnings 26, 27, 29Imports _ 36,37Income-tax receipts 32Income payments 19Incorporations, business 23Industrial production, indexes 19Installment sales, New England 24Insurance, life. 31Interest and money rates 30Iron ore, crude, manufactures 19,48Kerosene . 46Labor turn-over, disputes 27Lamb and mutton 43Lard . . 43Lead 19,49,50Leather _ 19, 21, 25, 26, 27, 28, 29, 46Leather, artificial __ 55Linseed oil, cake, and meal 40Livestock __ 19,20,43Loans, agricultural, brokers', real estate.- 23,30, 33Locomotives 55, 56Looms, woolen, activity 54Lubricants _. 46Lumber _ 20,25,27,28,47Machine activity, cotton, wool. _. 54Machine tools, orders 50Machinery 25,27,28,50Magazine advertising 23Manufacturing indexes 19Marketings, agricultural ,__ 19, 20Maryland, employment, pay rolls 26, 27Massachusetts, employment, pay rolls 26, 27Meats 19,20,43Metals 19, 21, 25, 27, 28, 29, 48,49, 50Methanol 38Mexico, silver production 32Milk _ 41,42Minerals 19,26,28,45,49Naval stores 39Netherlands, exchange rates 32

PageNew Jersey, employment, pay rolls 26, 27Newsprint 52New York, employment, pay rolls, canal

traffic _ 26, 27,37New York Stock Exchange 35,36Oats 42Ohio, employment ._ 26Ohio River traffic 38Oils and fats 39,40Oleomargarine 40Paint sales 40Paper and pulp 21,25,26,27,28,29,51,52Passenger-car sales index 24Passengers carried, street railways 37Passports issued 38Pay rolls:

Factory 27, 28Factory, by cities and States 27Nonmanufacturing industries 28

Pennsylvania, employment, pay rolls 26, 27Petroleum and products 19,

21,25,26,27,23,29,45,46Pig iron 48Porcelain enameled products 49Pork 43Postal business 23,24Postal savings 31Poultry 19, 20,44Prices:

Retail indexes 20World, foodstuffs and raw material 21

Printing 25, 26, 27, 28, 29, 52Profits, corporation 32Public relief 29Public utilities _ 32,34,35,36Pullman Co __ 38Pumps 50, 51Purchasing power of the dollar 21Radiators 48,50Radio, advertising 23Railways: operations, equipment, financial

statistics 37,38,55,56Railways, street 37Ranges, electric 51Rayon 54Reconstruction Finance Corporation, loans

outstanding 33Refrigerators, electric, household 51Registrations, automobiles 55Rents (housing), index 20Retail trade:

Automobiles, new, passenger 24Chain stores:

5-and-10 (variety) _ 24Grocery 24

Department stores 24Mail order.. 24Rural general merchandise 25

Rice _ 42Roofing 40Rubber, crude, scrap, clothing, footwear,

tires 19, 20, 25, 26, 27, 28, 29, 52, 53Savings deposits 31Sheep and lambs 43Shipbuilding 56Shoes 21, 25, 26, 27, 28, 29,46, 47Silk _ 20, 21, 54Silver. 19,32Skins 46Slaughtering and meat packing 19,

25, 26, 27, 28, 29Spindle activity, cotton 54Steel, crude, manufactures. 19, 21, 25, 27, 28, 48,49Steel, scrap, exports and imports 48Stockholders 36Stock indexes, world 20Stocks, department stores 24Stocks, issues, prices, sales 35,36Stone, clay, and glass products... 25, 27, 28, 29, 53Sugar 20,21,44Sulphur _ _ 38Sulphuric acid 38Superphosphate 39Tea. . . 20,21,44Telephone, telegraph, cable, and radiotele-

graph carriers 38Textile products 54,55Tile, hollow building 53Tin. 20,21,50Tobacco 19, 26, 27, 28, 29,44,45Tools, machine 50Trade unions, employment 26Travel 38Trucks and tractors, industrial, electric 56United States Government bonds 35United States Steel Corporation - . 36,49Utilities _ 32,34,35,36Vacuum cleaners 51Variety-store sales index 24Vegetable oils 39,40Vegetables 20,42Wages 28,29Warehouses, space occupied 23Waterway traffic 37,38Wholesale prices... 20, 21Wire cloth.. . 50Wisconsin, employment, pay rolls, and

wages— 26, 27, 29Wood pulp 51Wool 54, 55Zinc 19, 50

RECENT PUBLICATIONSOF THE BUREAU OF FOREIGN AND DOMESTIC COMMERCE

RETAIL CREDIT SURVEY 1938.—The finalreport reviews credit conditions in 14 retail tradeswith supplementary comparisons of informationby size of business, city, and region. It should beof special value to retailers, wholesalers, manufac-turers, and bankers. Domestic Commerce SeriesNo. 109: 20 cents.

THE BALANCE OF INTERNATIONAL PAY-MENTS OF THE, UNITED STATES IN

TRANSPORT CONTROL ABROAD.changes in transport control methods in foreigncountries—directed toward the coordination orregulation of transport services—which have de-veloped since the publication of Railway andHighway Transportation Abroad in 1935 (TradePromotion Series No. 155: 50 cents). The surveywas made at the request of the Chairman of theInterstate Commerce Commission. Trade Pro-motion Series No. 196: 40 cents.

I u v 0.

,This is the seventeenth annual report CONTROL OF OCEAN FREIGHT RATES IN

on the balance of international payments of theUnited States. It represents a complete compila-tion of the various classes of international com-mercial and financial transactions between resi-dents of the United States on the one hand andresidents of foreign countries on the other. In viewof the wide scope of the compilation and analysis,the implications of the report extend into manyfields of national and international economic nolicy.Economic Series No. 5: 15 cents.

CONSUMER MARKET DATA HANDBOOKPresents 82 series of consumer mar-

keting data by States, counties, and cities classifiedunder population and dwellings, volume and typeof business and industry, employment and payrolls, retail distribution by kinds of business, andrelated indicators of consumer purchasing power.Domestic Commerce Series No. 102: $1.75(buckram).

INDUSTRIAL MARKET DATA HANDBOOKl. Contains complete data for 1935 on

industrial production, employment, value of prod-ucts, cost of material, fuel and power, and outputper wage earner, by counties and States and sim-ilar information for cities of 10,000 population orover. Also included are tabulations of the countylocation of manufacturing plants by kind of indus-try and mines by type of mine. Domestic Com-merce Series No. 107: $2.50 (buckram).

FOREIGN TRADE. Makes available a sum-mary of experience and precedents in the field ofrate control as well as measures adopted for theprevention of discrimination and unfair practices.Trade Promotion Series No. 185: 20 cents.

SPECIAL NOTE. "The Superintendent of Doc-uments has on hand a limited number of copies,listed below, of back issues of the COMMERCEYEARBOOK. This publication is considered oneof the most valuable issued by the Bureau ofForeign and Domestic Commerce. This specialnotice is to call attention to the fact that earliereditions are rapidly becoming exhausted; therefore,to complete files, orders should be placed now.Copies are available for the years: 1922—60 cents;1923—85 cents; 1924—$1; 1925—$1; 1926— U. S.$1, Foreign $1.25; none for 1927; 1928—U. S. $1,Foreign $1.25; 1929—U. S. $19 Foreign $1; 1930—U. S. $1, Foreign $1; 1931—U. S. $1, Foreign $1:1932—U. S. $1.25, Foreign $1.25.

Copies of the above publications may be obtained, ct the

prices stated, from the Superintendent of Documents, Gov-

ernment Printing Office, Washington, D. C , or any District

Office of the Bureau of Foreign and Domestic Commerce

located in commercial centers throughout the United Stoles

Survey of Current Business October 1939 · coal, coke, petroleum, natural gas, and natural...

Documents

Transcript of Survey of Current Business October 1939 · coal, coke, petroleum, natural gas, and natural...