Full text of Survey of Current Business : April 1927
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UNITED STATES DEPARTMENT OF COMMERCE WASHINGTON SURVEY OF CURRENT BUSINESS APRIL, 1927 No. 68 COMPILED BY BUREAU OF THE CENSUS BUREAU OF FOREIGN AND DOMESTIC COMMERCE BUREAU OF STANDARDS IMPORTANT NOTICE In addition to figtwes given from Government sources^ there are also incorporated for completeness of service figures from other sources generally accepted by the trades, the authority and responsibility for which are noted in the "Sources of Data" on pages 135-138 of the February semiannual issue Subscription price of the SURVEY OF CURRENT BUSINESS is 21.50 a year; single copies (monthly), 10 cents, semiannual issues, 25 cents. Foreign subscriptions, $2.25^ single copies (monthly issues), including postage, 14 cents; semiannual issues, 36 cents. Subscription price of COMMERCE REPORTS is $4 a year; with the SURVEY, ?5.50 a year. Make remittances only to Superintendent of Documents, Washington, D. C., by postal money order, express order, or New York draft. Currency at sender's risk. Postage stamps or foreign money not accepted U. 8. GOVERNMENT P R I N T I N G OFFICE: 1927 INTRODUCTION THE SURVEY OF CURRENT BUSINESS is designed to present each month a picture of the business situation by setting forth the principal facts regarding the various lines of trade and industry. At semiannual intervals detailed tables are published giving, for each item, monthly figures for the past two years and yearly comparisons, where available, back to 1913; also blank lines sufficient for six months have been left at the bottom of each table enabling those who care to do so to enter new figures as soon as they appear (see issue for February, 1927, No. 66). In the intervening months the more important comparisons only are given in the table entitled "Trend of business movements." WEEKLY SUPPLEMENT Realizing that current statistics are highly perishable and that to be of use they must reach the business man at the earliest possible moment, the department has arranged to distribute supplements every week to subscribers in the United States. The supplements are usually mailed on Saturdays and give such information as has been received during the week ending on the preceding Tuesday. The information contained in these bulletins is republished in the monthly SURVEY, which is distributed as quickly as it can be completed arid printed. BASIC DATA The figures reported in the accompanying tables are very largely those already in existence. The chief function of the department is to bring together these data which, if available at all, are scattered in hundreds of different publications. A portion of these data are collected by Government departments, other figures are compiled by technical journals, and still others are reported by trade associations, RELATIVE NUMBERS To facilitate comparison between different items and render the trend of a movement more apparent, relative numbers (often called "index numbers/' a term referring more particularly to a special kind of number described below) have been calculated. The relative numbers enable the reader to see at a glance the general upward or downward tendency of a movement which can not so easily b£ grasped from the actual figures. In computing these relative numbers the last prewar year, 1913, or in some instance a five-year average, 1909-1913, has been used as a base equal to 100 wherever possible. The relative numbers are computed by allowing the monthly average for the base year or period to equal 100. If the movement for a current month is greater ithan the base, the relative number will be greater than 100, and vice versa. The difference between 100 and the relative number will give at once the per cent increase or decrease compared with the base period. Thus a relative number of 115 means an increase of 15 per cent ov<er the base period, while a relative number of 80 means a decrease of 20 per cent from the base. Relative numbers may also be used to calculate the approximate percentage increase or decrease in a movement from one period to the next. Thus, if a relative number at one month is 120 and for a later month it is 144 there has been an increase of 20 per cent. In many instances comparable figures for the prewar years are not available, and in such cases the year 1919 has usually been taken as the base. For some industries 1919 can not be regarded as a proper base, due to extraordinary conditions in the industry, and some more representative period has been chosen. In many cases relative numbers of less importance have been temporarily omitted. Most of the relative numbers appear in a special section of the semiannual issues, as in Tables 111 to 131 of the August, 1926, number, thus allowing easy comparison on a pre-war base for all items for which relatives could be computed. INDEX NUMBERS When two or more series of relative numbers are combined by a system of weightings the resulting series is denominated an index number. The index number, by combining many relative numbers, is designed to show the trend of an entire group of industries or for the country as a whole, instead of for the single commodity or industry which the relative number covers. Comparisons with the base year or with other periods are made in the same manner as in the case of relative numbers. RATIO CHARTS In many instances the charts used in the SURVEY OF CURRENT BUSINESS are of the type termed " Ratio Charts" (logarithmic scale), notably the Business Indicator charts on page 2. These charts show the percentage increase and allow direct comparisons between the slope of one curvfe and that of any other curve regardless of its location on the diagram; that is, a 10 per cent increase in an item is given the same vertical movement whether its curve is near the bottom or near the top of the chart. The difference between this and the ordinary form of a chart can be made clear by an example. If a certain item, having a relative number of 400 in one month, increases 10 per cent in the following month, its relative number will be 440, and on an ordinary chart would be plotted 40 equidistant scale points higher than the preceding month. Another movement with a relative number of, say, 50 also increases 10 per cent, making its relative number 55. On the ordinary (arithmetic) scale this item would rise only 5 equidistant points, whereas the previous item rose 40 points, yet each showed the same percentage increase. The ratio charts avoid this difficulty and give to each of the two movements exactly the same vertical rise and tence the slopes of the two lines are directly comparable. The ratio charts compare percentage changes, while the arithmetic charts compare absolute changes. This issue presents practically complete data for the month of February and also items covering the early weeks of March received up to March 28. (See charts and table, pp. 4 and 5.) As most data covering a particular month's business are not available until from 15 to 30 days after the close of the month, a complete picture of that month's operations can not be presented at an early date, but the advance leaflets give every week the latest data available. UNITED STATES DEPARTMENT OF COMMERCE WASHINGTON SURVEY OF CURRENT BUSINESS COMPILED BY BUREAU OF THE CENSUS : : BUREAU OF FOREIGN AND DOMESTIC COMMERCE : : BUREAU OF STANDARDS 1927 APRIL No. 68 CONTENTS SUMMARIES Preliminary summary for March Course of business in February Monthly business indicators (table and chart) Weekly business indicators (table and chart) Wholesale price comparisons (table and charts) Indexes of business Detailed indexes (production, prices, sales, etc.) Basic steel and related products (charts) INDEX BY SUBJECTS Page 1 9 2, 3 4, 5 6, 7, 11 9, 10 18 8 NEW DETAILED TABLES Butter and cheese wholesale prices Census of manufactures Automobile rims and stocks of grains Boxboard (revised data) Walnut lumber, new and unfilled orders __ Acetate of lime and methanol (revised data). Installment sales, New England department stores_ Sulphur production. 21 21 21 22 22 23 23 23 Textiles Metals and metal productsFuels Automobiles and rubber Hides and leather Paper and printing Building construction and housing Lumber products Stone, clay, and glass products Chemicals and oils Foodstuffs Tobacco Transportation Public utilities Employment and wages Distribution movement (trade, advertising, etc.) _ Banking and finance Foreign exchange and trade, gold and silver Text page Table page 12 24 13 26 14 30 14 28, 31 14 31 14 32 33 15 34 15 35 15 36 15 38 16 41 16 41 17 43 11 43 44 17 17 45 17 47 PRELIMINARY SUMMARY FOR MARCH Measured by check payments, the dollar volume of trade in March, based on weekly figures, was larger than in either the preceding month or March a year earlier. The movement of goods into consumption, as seen from carloadings, was larger than a year ago, establishing a record for this time of year. Production of bituminous coal and petroleum were also greater than in March of last year, while the output of lumber and beehive coke was smaller. Building contracts during the first three weeks of March were running larger than in the corresponding period of either the preceding month or the same month of a year ago. Wholesale prices continued to decline during March, both as compared with the preceding month and the corresponding month of 1926, reaching their lowest 39820—27—1 point in almost five years. Loans and discounts of Federal reserve member banks continued to expand. Prices for stocks averaged higher than in either the preceding month or March a year earlier, with bond prices showing similar comparisons. Although interest rates on both time and call money showed no material change from the preceding month, they were generally lower than a year ago. Loans to brokers and dealers by Federal reserve member banks in New York City continued to expand. The Federal reserve ratio was somewhat lower than in the previous month, but it was substantially greater than a year earlier. Business failures during March were less numerous than in February, when allowance is made for the shorter month. Failures, however, were larger in number than a year ago. MONTHLY BUSINESS INDICATORS, 1920-1927 [Ratio charts—see explanations on inside front cover. The curve on bank debits has been adjusted for normal seasonal variations and that on manufacturing production for the varying number of working days in the month] RELATIVE TO 1913 AS 100 1920 1921 1922 1923 1924 1925 1926 1927 RELATIVE TO 1919 AS 100 1920 1921 1922 1923 1924 1925 1926 1927 200 WHOLESALE TRADE 6 LINI INTEREST RATES, COMMERCIAL PAPER WHOLESALE PRICES (DEPT.OF.LABOR) FARM PR ICES (DEPT OF AGRICULTURE) MANUFACTURING PRODUCTION | . . UNFILLED- STEEL ORDER AUTOMOBILE PBODUCTIOfl ( PASSENGER CARS AND TRUCKS: NET FREIGHT TON-MILES BUILDING CONTRACTS AWARDED 1920 1921 1922 S923 1924 1925 1926 1927 1920 1921 1922 1923 1924 1925 1926 1927 30 MONTHLY BUSINESS INDICATORS The following table gives comparative relative numbers for a selected list of important business movements. It is believed that this table will prove useful, because it segregates from the large mass of material a comparatively small number of items which are often regarded as indicative of business in general. The table has been divided into two parts, the first containing those items for which relative numbers can be calculated, using 1913 as a base. The second part contains items for which comparable data back to 1913 are not available. This latter group of relative numbers is calculated by letting the 1919 monthly average equal 100. Care should therefore be exercised in comparing the absolute value of the two sets of data. In either group, however, the upward or downward trend of the relative numbers, compared to previous months, does reflect the present tendency in each item and will give a basis for business judgment. 1925 MONTHLY AVERAGE 1927 1926 ITEM 1920 1921 1923 1923 1924 1925 1926 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 1913 monthly average =100 Production: Pig iron 120 Steel ingots 135 Copper _. _ __ 99 Cement (shipments) 108 Anthracite coal 98 Bituminous coal 119 Electric energy (gross revenue sales) .283 Crude petroleum 178 Cotton (consumption) 105 Beef 119 Pork 113 Unfilled orders: United States Steel Corporation 170 Stocks: Crude petroleum * 143 Cotton (total) 155 Price: 2 Wholesale index 226 Retail food 203 Retail coal, bituminous _ __ 207 Farm products 205 Business finances: Defaulted liabilities 108 Price 25 industrial stocks . 184 Price 25 railroad stocks . . 67 Banking: Clearings, New York City . .. 257 Clearings, outside 275 Commercial paper interest rate 134 Distribution : Imports (value) _ 294 Exports (value) 331 Sales, mail-order 264 Transportation : Freights, net ton-miles 137 54 87 130 101 118 127 118 127 64 114 144 122 146 156 155 158 38 80 120 128 136 141 131 135 107 131 153 164 177 182 137 94 99 58 104 99 68 93 2 3 87 85 118 101 109 121 127 132 312 349 407 434 470 535 535 558 189 224 295 287 304 309 297 294 97 109 117 99 115 120 117 124 113 126 130 133 138 144 137 152 117 130 160 151 128 127 127 162 90 96 102 68 73 64 78 171 265 311 198 153 125 369 290 269 283 111 129 177 216 147 153 197 116 159 145 167 147 85 130 164 138 77 2 135 578 288 125 139 168 114 151 132 79 27 117 559 264 121 120 127 83 78 134 135 136 126 126 125 178 163 156 149 145 159 147 143 143 139 140 140 129 175 243 259 254 251 115 108 106 117 111 108 116 101 98 105 109 116 545 537 506 499 489 491 293 290 302 298 313 321 137 124 111 111 99 108 136 137 139 150 136 140 136 120 119 136 129 118 74 65 61 278 278 274 274 273 271 237 227 213 192 167 143 59 61 60 123 156 141 245 111 123 509 315 123 164 100 130 162 146 237 114 137 543 333 122 166 101 126 148 146 153 98 150 565 336 126 155 119 121 138 141 87 99 145 596 348 130 150 151 121 151 148 81* 86 143 115 148 134 91 77 133 346 130 135 164 127 122 128 61 62 64 67 64 61 268 265 265 265 264 264 265 266 119 98 85 137 217 260 267 257 239 152 160 160 139 151 157 160 136 149 156 162 133 151 159 170 134 150 160 177 130 148 162 188 130 147 162 187 127 147 159 183 126 146 156 181 127 149 142 188 124 154 146 190 135 150 146 169 134 229 228 136 169 64 75 197 185 72 198 162 149 157 160 191 150 134 169 147 129 130 123 131 146 143 200 225 206 198 262 285 305 305 309 309 272 249 253 268 280 296 296 283 295 308 301 311 81 99 112 107 111 111 109 105 104 106 111 113 116 120 114 117 121 122 127 205 230 226 212 230 276 118 80 90 264 300 307 298 342 344 272 356 329 297 307 302 275 271 309 282 339 324 292 284 320 327 323 354 344 291 342 327 319 332 337 307 315 345 319 344 329 291 71 73 77 79 79 79 75 78 76 72 70 72 78 80 82 80 79 75 70 151 158 160 167 172 179 136 144 156 166 179 143 156 164 179 143 155 162 179 143 152 151 160 162 170 168 140 140 140 177 212 201 236 248 252 266 181 154 168 185 198 193 216 226 188 204 259 284 327 349 396 473 279 259 296 266 192 170 181 187 336 322 357 344 105 138 115 139 131 139 149 149 139 130 141 133 152 161 161 139 215 225 227 225 230 252 250 241 172 163 178 186 216 220 232 225 299 309 284 286 336 417 425 471 146 239 209 203 180 313 312 144 153 160 162 177 159 147 143 1919 monthly average =100 Production: Lumber 3 Building contracts . ._ Stocks: Beef _ Pork Business finances: Bond prices (40 issues) Banking: Debits outside New York City Federal ReserveBills discounted Total reserves . Ratio 148 139 143 141 143 127 113 106 116 142 125 141 139 135 131 119 95 99 102 72 86 69 117 102 133 106 129 108 141 138 136 133 140 146 127 137 113 117 130 90 146 150 142 155 148 153 66 98 42 83 29 70 32 91 34 90 34 82 27 70 31 45 36 56 34 67 33 74 30 78 25 76 22 74 86 87 107 104 108 112 116 112 112 114 115 115 116 117 117 117 117 116 116 118 119 119 119 114 91 95 107 108 121 127 121 137 134 114 133 128 122 128 135 118 121 135 123 139 133 118 132 97 80 91 122 122 28 144 154 39 19 26 146 146 134 152 160 149 30 135 148 32 131 142 39 129 134 23 135 149 28 133 147 33 133 146 27 135 151 24 136 151 27 27 32 37 33 33 37 19 22 136 137 135 134 135 135 134 143 144 150 152 148 145 147 144 140 159 156 21 78 19 86 18 84 20 67 26 52 36 47 43 57 40 72 37 81 i Data since January, 1925, cover only stocks east of California, and hence are not directly comparable with figures for earlier periods. * Wholesale and retail prices from Department of Labor averaged for the month; farm prices from Department of Agriculture. * Based on the total computed production reported by 5 associations. Includes southern pine, Douglas fir, western pine, North Carolina pine, and California white pine. The total production of these associations in 1919 was equal to 11,401,000,000 board feet, compared with a total lumber production for the country of 34,552,000,900 board feet reported by the census. WEEKLY BUSINESS INDICATORS [Weeks ending Saturday. See table on page 5] WEEKLY AVERAGE, 1923-1925 INCLUSIVE = 100 B TU VIINC)US COAL, P RODUC)TiorSi BUIL DINIG (:ONI•RA CTS JAN. FEB. MAR APR, MAY JUN JULY AUG.! SEP OCT. NOV. DEC. 160 140 sA ^* "v 120 •f ^ 80 •y^- '. tf* V •' J JJ V ./•' J i 1 > i1 y V •'\ U f f 125 \\ 1 11 1 \ n, 1 11 7* I lI 1 1 I i t 11 I 11 1 11 11 J kfe.-, 1 11 1 t1 .'..' "., ... .,»* 80 ..... 115 r V V *' 70 ^uJ M^ .M- *.,..• •••••, .v •• ^ • ... A 100 140 / \ 120 100 ft^ ...'• ..... JI L) LI 1 -LLL. 1 1 L COTTON RECEIPTS 350 :' 300 ... /-** •\ FEDERAL RESERVE RATIO / **/ . / 90 k f— -V s> ..*' *..* A A v .......*. ,* / * L », s. "v •, CALL MONEY RATE.S 160 140 120 .... *\ .A . I 100 J Wrf 4.> iu .i* "v ....; \« '•f \i -/ V lilt 111 t 11 JIM 1 II 111 ^ STOCK PRICES 150 *•"•. 1 11 1 !I 111 * \ • «. . .*«. i 11 1 1! i ii <?:. ion no M iM> ii PRICE N02 RED WINTER %•••• 11 iii 1 Il 1 11 11 1 I TIME MONEY RATES 120 •'*•.. no V'- ,'*.. ..,, 1 111 11 '** ». *'»•» 120 100 w HEAT \ '•< ,/> 80 KJfe * . / DISCOUNTS F.R.MEMBER BANKS ;' 1 90 ^i 400 175 1 11 1 11 1 111 1 il i 1I A r1 *• ••*«. .LL 95 WHEAT RECEIPTS 250 •/•-• 105 ; 325 1 i1 _Li 1 f •V-. \ no '"*•• ... •*""***•. no 40 CAR LOADINGS 130 100 ^ *• •*•> 80 -Mt c OT1fON PRICES MIDDLING 100 • *\ i "V 100 ^•* ••.. / \ \ .. ••'" 90 -^V ...J ,y 1. i BOND PRICES NEW YORK no 80 105 -**««> -=-^ \. 100 250 100 1 ! FJS HER'S WHOLESALE PRICE INDEX UJ 150 11 1 tl '..< 60 ' .... t / %ttl ^g_ 120 -1 100 * I.OANS AND HOG RECEIPTS ^a. 4^ .... | 90 200 ' 80 4iWd4^, f .**••* / v :.-, ...'%. ,.- 25 ibW- ^ 50l §100 100 loor 1 * 1 75 PE.TROLEUM PRODUCTION(DAILY AVERAGE) 01 • i .:"v\ rV. ;'. : • *• /'* 50 44^, AC CO UNTi3 APR. MAY JUN JULY AUG. SEP OCT. NOV. DECJ 120 100 *s i no r: ' 125 ''••: £ 120 aj •••• :•; : 150 *. 100 75 : 1 /It • • : y 160 CATTLE RECEIPTS 111 1 II I I I UJ BEEHIVE COKE, PRODUCTION 150 if 60 40 60 ] 40 , 100 , I .*: ,; • f '*. • JAN [FEB. [MAR : » ; 80 L /•*••» on r. 120 .• ...". 100 180 140 _,_ LUMBER, PRODUCTION. 120 200 160 •••.. 100 f-, DEBITS TO NDIVIC)UAL AN. FEB. MAR APR. MAY JUN JULY AUG. SEP OCT, NOV. DEC. *'•••. \ uS, / f— 190 AND STEEL COMPOSITE PRICES 160 95 "N *•••• •••• 1 1 1 1 11 l I ! 0 JAN. FEB.MAR APR. inn 1Rorsi n \\ /*v / V, 50 BUSINESS FAILURES (NUMBER) 40 VA ±M, f *'•« J_LL MAY JUN JULY AUQ SER OCT. NOV DEC 85 .'• ."• '.. *s *•••• •^»4 •tylsi JAN. 130 •«... — . FEB. MAR APR. MAY JUN JULY IAUG SEP OCT. NOV DEC 926 1927 inn IUU / »*v i x.**4 1 , V** *..' •"*! .1 1 1 1 1 1 i_!l 1 1 111 • 1 ! 1 1 JAN. FEB MARj APR. MAY JUN JULY AUG SEP OCT. NOV DEC. 70 4*h WEEKLY BUSINESS INDICATORS' Receipts of hogs Price of No. 2 wheat Wholesale price index Bankloans and discounts Federal reserve ratio Debits to individual accounts Call-money rates Time-money rates Stock prices Bond prices Business failures 77.3 94.6 97.7 96.1 96.5 132.0 114.3 103.3 158.4 100.2 43.4 79.1 65.8 58.4 55.4 157.3 120.0 101.5 108.1 95.8 70.3 102.2 103.5 100.6 82.0 94.1 120.8 110.8 93.2 100.5 132.4 133. 1 132.4 132.4 128.9 76.1 76.5 77.6 76/8 76.5 94.8 94.8 94.8 94.6 94.2 102.5 102.5 102.1 102.5 102.8 113.9 113.5 112.5 112.2 111.6 86.8 90.6 93.8 96.0 96.8 99.7 139.0 117.8 122.7 112.5 145.5 97.0 109.1 97.0 109.1 114.3 114.3 108.6 108.6 102.9 141.4 141.7 140.3 138.2 139.6 103.9 104.1 104.3 104.6 105.0 91.9 135.6 140.8 126.0 126.8 Feb. 6 13 20 27. 124.8 123.2 118.1 111.7 103.2 105.5 103.2 102.3 149.8 147.8 144 1 130 6 91.5 91.4 91.4 92.5 95.4 95.7 97 2 95.2 80.8 66.7 89.1 127.2 54.3 51.1 63.6 42.4 91.5 88.5 79 2 64.2 86.4 84.2 77 5 81.0 92.9 92.3 77 8 79.7 135.2 128.9 126 1 127.5 76.5 76.5 76 5 73.2 94.2 94.2 94.0 94.0 102.7 102.1 100.8 100.1 111.8 112.1 111.7 111.5 96.1 95.7 95.1 95.5 120.2 111.9 110.4 97.7 112.1 118.2 115 1 127.3 105.7 105. 7 108 6 111.4 141.1 141.9 140 1 137.0 105.3 105.3 105.4 105.3 127.3 93.6 117.4 102.7 107.3 109.7 105.3 98.8 104.5 106.4 109.5 112.7 107 8 107.3 107.3 102 0 92.2 92.9 92.6 92.8 100.6 100.9 101.9 100.9 92.2 103.7 144.8 136.2 47.8 38.3 44.0 44.0 61.9 59.2 61.5 64 6 79.7 82.0 84.5 87.0 88.8 81.7 84.3 77.3 120 4 119.0 123.2 112 7 71 7 72.1 71.0 71 0 94.0 94.0 93.9 93.9 99.1 98.7 98.9 97.6 112.1 111.3 111.6 111.6 94.4 96.2 97.5 95.9 130.2 110.5 121.2 110.9 112.1 103.0 103.0 118.2 111.4 111.4 105.7 105 7 129.6 131.8 128.2 122 4 104.9 105.0 105.1 105.0 118.9 120.6 96.3 108.8 Apr. 3 10 . 17 24 92.8 96.7 95.5 95.1 111.4 110.5 113.6 112.7 95 5 93 1 95. 1 93 1 93.5 93.4 93.1 93 9 96.8 96.9 100.6 101 5 143.1 179.8 160.9 111.5 32.8 41.2 35.1 44.3 51 9 46.9 43.5 38 8 68.7 73.1 80.7 87.3 59 0 71 3 67.8 71 0 73.7 118.3 70.6 73 5 123 2 69 5 93.9 93.1 93.1 92 9 97.7 97.0 97.6 97.3 112.4 111.7 111.2 111.0 94.7 96.3 94.2 98. 1 112.5 120.7 114.5 117.6 115 1 97.0 109. 1 84 8 108 6 105.7 102.9 97 1 116 2 119.0 116.7 119 8 104.9 105.3 105. 8 106 1 97.3 98.5 106.9 116.5 May 1 8 29 93.6 92.7 95.4 95.2 99.4 106.4 104.5 106.4 107.3 108.6 85 7 86 5 82 9 88.2 79 2 95 5 95 7 96.0 95.4 96 5 103 8 103.9 107.4 108.4 112 8 143. 3 144.3 127.6 164.7 145.9 47.2 44.2 38.9 45.3 60.8 44 6 39 2 40.0 35.8 36 5 97 5 96.5 85.8 85.4 94 3 77 5 73 3 65.5 71.0 77 6 116 2 117 6 119.0 116.2 116 9 69 5 70 6 69 9 69.1 69 5 92 7 92 7 92.6 92.1 91 8 96.7 97.3 98.0 98.4 98.2 111.6 112. 1 111.7 111.2 111.0 97 7 96. 1 97.7 97.3 98 1 106 4 121.8 108.6 113.9 107 8 93 9 93.9 90.9 97.0 97 0 91 4 91 4 91.4 94.3 94 3 122 3 120 4 119.5 119.9 122 5 106 3 106.1 106.4 106.4 106 5 121.1 99.0 102.9 101.5 106,6 June 5 12 19 26 88.9 98.8 97.5 101.0 100.5 107.3 109.5 104.5 79 6 80 0 75 1 76 3 96 4 96 7 96.5 97 0 98 7 110 6 108.9 110 8 108.0 130.8 116.4 130 6 46.3 46.7 44.2 71 4 33 1 30 8 24.6 16 5 94 0 91 5 92.7 84 5 74 6 90 6 74.6 70 3 104 2 109 9 108 5 102 1 69 1 66 9 67 6 68 4 91 4 91 0 90 8 90 8 97.7 98.9 98.0 97 8 111 7 111.3 112. 5 111 6 95 9 97.5 96.8 98 1 106 2 110.2 117.8 111 6 100 0 97.0 90.9 103 0 94 3 94 3 97. 1 97 1 123 6 124 2 128.0 128 8 106 4 106.5 106.5 106 4 83.8 92.9 98.3 98.3 July 3 10 17 24 31 97.4 85.2 103.8 104.1 108.2 100.5 80.9 102.3 99.1 104.5 66.5 71 8 74 3 69 4 71 8 97.8 97 6 98 6 99 4 101 6 111.9 94 0 113 0 113.2 115 0 108.9 137 1 141.2 116.3 163 6 110.7 173.6 179.4 242.5 323 5 18.6 13 1 20 0 20.0 25 4 94.9 88 6 102 5 93.4 92 7 71.0 69 6 66 1 69.8 67 2 95.1 67.3 91.2 96.7 70 2 91 2 97. 1 104 2 68*4 91 0 96.7 101 4 69 5 91.0 95.9 102 8 70 6 90 8 95.3 113.1 112 5 112. 1 111.9 111 8 97.2 94 6 96 6 98.1 95 0 115.1 118 2 117 4 117.8 105 4 115.1 109 1 103 0 97.0 106 1 94.3 97 1 100 0 100.0 102 9 129.9 131 3 132 8 131.6 133 4 106.3 106 3 106.2 106.0 105 9 91.2 75.2 87.0 88.2 97.5 Aug. 7__ . 14 . 21 . 28 104.1 109.1 108.1 115.1 105.5 106.4 105.5 108.2 67 8 66 5 74 7 73 9 102 8 103 8 104 2 104 5 113 0 115 7 113 6 118 5 105.3 131 8 131.6 171 4 296.8 235 2 175.5 137 0 22 7 43 8 53 5 61 2 74 4 97 5 101 3 102 2 69 8 66 1 66 9 59 0 97 9 96 5 95 8 95 8 69 5 65 4 66 9 70 2 90 8 90 8 90 8 90 8 95.1 94 8 94.7 95 3 112 6 112 9 112 5 112 6 97 3 97 2 96 9 97 3 115 5 106 0 111 4 102 5 109 1 109 1 109 1 115 1 102 9 105 7 108 6 108 6 135 5 137 5 138 7 137 2 106 2 106 2 106 0 106 0 92.1 91.2 88.9 89 9 Sept. 4 11 -_ 18 25-_ 113.0 105.2 117.5 120.2 104.5 95.0 1G4. 5 106.4 75 1 74 3 80 0 80 4 105 4 104 8 1C4 3 104 2 120.1 107 5 123 8 123 4 125.7 167 7 140.5 156 2 162.1 153 2 147.6 122 4 101 9 113 8 195 4 249 2 122 2 119 9 132 0 139 2 59 9 59 8 63 2 59 5 93 7 94 4 96 5 96 5 68 8 68 0 62 9 55 9 90 8 90 7 91 3 91 5 95.0 95 6 95.4 95 1 113 5 113 6 114 5 114 1 96.0 95 9 92 4 94 3 102 3 92 2 115 6 119 1 115 1 121 2 121.2 127 3 111 4 111 4 111 4 114 3 137 2 140 1 138 8 139 0 106.2 106 2 106 1 106 0 92.6 73.5 80.3 82.6 Oct. 2 9.. 16 23 30 123.2 126.9 127.1 130.4 138.4 103.2 106.4 105. 5 103.2 105 5 105 3 105 8 107 2 109 7 111 9 123 7 123 6 126.2 126 1 126 9 150 7 122.6 161.6 138 6 146 4 116 0 109.6 91.8 109 3 118 0 321 5 360 4 359.2 353 5 328 1 129 1 144 9 140 8 141 8 149 4 52 6 48 2 50 0 46 3 46 7 91 4 91 4 92 1 92 1 92 2 95 4 94 9 95.3 95 5 96 5 115 2 115 3 115 3 115 0 114 5 93 7 95 1 94 3 95 6 95 0 108 5 130 3 107 7 131 9 115 8 133 3 115 -1 124 2 103 0 109 1 114 3 114 3 117 1 114 3 111 4 140 5 136 3 134 4 132 9 134 6 105 8 105 8 106.0 105 8 106 3 81.8 96.1 92.1 105.9 105 7 134.5 141.7 146.5 137.6 102 3 99. 1 99 1 88.2 113 2 112 5 113 8 ]14 8 118 6 116 1 112 5 98 3 127 7 121 3 119 1 163 0 104 1 96.6 77 2 73 8 320 0 307 7 305 4 278 1 123 7 137 0 131 3 96 8 58 6 63 5 66 3 74 0 78 9 79 5 85 1 79 4 75 0 97 9 96 5 97 9 100 0 100 7 Nov. 6 13.- _ _ 20 27-- 75 1 84 9 82 0 81 6 80 0 78 4 82 4 83 7 80 8 99 3 97 9 95 8 97 2 46 7 48 2 47 8 48 2 92 5 92 8 92 9 93 0 98 8 98 4 96 0 96 2 115 0 114 5 114 3 114 6 93 9 95 5 95 1 94 6 111 8 115 5 118 2 112 2 109 1 106 1 112 1 115 1 108 6 105 7 105 7 105 7 136 2 138 1 138 2 140 4 106 6 106 7 106 9 107 1 94 3 103 9 112 3 97 5 Dec. 4_ ... 11 18 25 . 150.6 144.6 138.3 107. 6 98.2 96 4 90 0 75. 9 78 0 75 1 71 8 59 6 114 7 110 4 115 0 104 2 115 1 99 1 115 3 80 6 83 9 117 4 176 0 90 9 68 5 71 4 61 8 50.2 281 5 260 8 237 7 203 5 110 8 101 9 103 5 71 5 96 8 97 2 44 5 99 7 98 6 45 2 90 0 97 9 46 3 47 $ 78 7 92 9 92 4 92 3 92 1 96 2 95 9 94 7 94 3 115 0 114 8 115 1 115 5 93 2 93 0 89 9 88 Q 108 8 114 5 118 7 126 7 118 2 118 2 118 2 136 4 105 7 105 7 105 7 105 7 140 9 142 4 144 4 145 2 107 1 107 2 107 3 107 4 113 8 114 5 103 9 120 6 109. 9 136.0 139 3 138.3 138.9 53 2 75 9 85 9 86 8 82.7 70 2 69 4 73 9 75 9 77 6 114 6 114 7 114 8 114 7 113 8 77 2 98 1 99 1 98 3 99 2 138 5 107 4 97 3 89 6 118 4 53 0 59 0 60 0 58 4 65 1 191 5 133 5 150 8 159 6 140 8 64 2 87 3 93 0 94 9 87 7 71 6 100 9 110 6 98 9 97 7 92 0 92 o 91 3 90 5 90 3 90 5 91 6 97 3 99 2 102 7 106 t 143 2 120 4 119 4 111 1 133 3 115 1 103 0 100 0 97 0 105 7 102 9 102 9 102 9 102 9 144 4 142 2 142 9 143 0 141 0 107 3 107 5 107 8 108 0 108 0 109 1 121 4 142 8 150 4 146 7 88 2 90 9 94 1 92 3 76 3 76 7 78 0 77 i 115 3 118 2 118 7 119 3 101 3 101 0 100 2 96 3 77 9 99 7 112 2 134 6 77 6 62 5 72 5 55 5 122 3 120 4 105 8 119 2 84 2 78 8 83 5 82 3 90 0 86 0 77 5 87 7 90 1 89 5 89 2 88 7 94 0 93 9 93 4 94 0 93 3 92 7 92 9 91 4 91 0 116 6 116 7 115 4 114 2 113 6 139.4 138.4 135.4 131. 0 97 9 47 g 95 1 48 2 49 6 97 2 50 0 98 6 50 4 97 2 51 5 96 5 51 8 96 5 52 2 96 5 52 6 113 8 113 2 113 0 113 2 101 3 102 6 101 2 103 4 127 9 111 5 113 9 102 2 97 0 97 0 97 o 100 0 102 9 102 9 110 0 102 9 143 9 145 6 148 1 149 7 107 8 107 6 107 7 107 6 140 0 145 9 118 9 109 1 136. 1 90 0 76 3 141.4 92.3 79 6 133 0 93 2 82 3 118 3 118 1 118 2 103 8 72 9 57 7 96 9 76 6 82 0 96 5 104 9 123 3 61.8 103 8 76 9 81 8 95 8 161 6 51 1 97 7 78 2 85 1 94 4 93.0 88 8 88 9 89 1 89! 1 91 4 114 4 101 3 91 0 114 3 102 8 89 8 115 1 101 9 102.2 90.3 134 2 114 4 123 7 118.7 100 0 97 0 97 0 106.1 100 0 102 9 102 9 102.9 150 3 150 3 152 2 152. 1 107 5 107 7 108 0 108.4 117 9 113.8 115 5 120.9 _ _ Mar 6 13 20 27 '. 15 22 . Price of iron and steel (composite) Receipts of cattle 94.7 94.3 93.5 92.6 90.9 Price of cotton middling Receipts of cotton 119.6 118.4 126.9 140.0 138.4 Receipts of wheat 54.1 77.7 90.0 97.3 99.1 Building contracts Beehive coke production 109.5 133.7 134.1 127.6 128.9 1926 Jan Car loadings Lumber production 2 9 16 23 30 WEEK ENDING SATURDAY2— Petroleum production Bituminous coal production All data are given as relative to the weeekly average for 1923 to 1925 as 100. 1927 Jan. 1 8 15 22. 29 Feb. 5 12. 19 26_. . . Mar. 5 -. 12 19 26-1 53 3 52 2 51 8 52.9 Sources of data are as follows: Bituminous coal and beehive coke production from U. S. Department of Commerce, Bureau of Mines; Lumber production, based on four Fisher; Price of cotton,, middling, from New York Cotton Exchange; Price of iron and steel, composite, from Iron Trade Review; Price of wheat, No.. 2, red, cash, from Chicago Board of Trade through U. S.. De Department of Agriculture, Bureau of Agricultural Economics; Loans and discounts of member banks and debits to individual accounts from erve Board; CallFederal Reserve Call-money and Time-money rates, and Bond prices from Wall Street Journal; Stock prices from Annalist; Business failures from R. G. Dun & Company. 2 The actual week for all items does not always end on same day. WHOLESALE PRICES IN FEBRUARY [Bars denote percentages of increase or decrease in the wholesale prices of specified commodities as compared with the same month of 1926 and 1925] COMMODITIES COMPARISON WITH' PREVIOUS MONTH DECREASE INCREASE $D| 0 10} TO 20, COMPARISON WITH SATtfE MtfNTH 1926 INCREASE COMPARISON DECREASE 60! 40 30s 20 0 (0 10 20 30- 40 60 DECREASE 60 70 80 50 40 30 JO ,20 Q. WITH SAME MONTH 1925. INCREASE f&, 20, 30 40 50 60 70 BC FAR Vf PRODUCTS^ AvTRA"GE PRICE TQ» PRODUCER . • • mrn^ WHEAT 1 • CORN POTATOES COTTON COTTONSEED CATTLE, BEEF HOGS V////7//////////^^^ ^///////////////^ V///////////////////, V//////////// 1 HHHHHHBHHE^l * W////////////////^ K^^^^^d ' 1 •• LAMBS FARM PRODUCTS, MARKET P Rl CE WHEAT. SPRING 1 WHEAT, WINTER CORN NO. 2 % Tr W/////7M WMW/MWM BARLEY RYE, NO . 2 TOBACCO, 1 ^r BUR LEY ^^/^///^/y//^/^////, ~2 BT OATS ^S fe^^^^^^ umz. K%^%%^ tyMW/^/W/W///^ COTTON \y/y//////////^ ir WOOL, '/* GREASE (BOSTON) CATTLE, STEERS ••I • HOGS, HEAVY SHEEP, EWES SHEEP, LAMBS \ FOOD FLOUR. SPRING1 FLOUR, WINTER SUGAR*RAW SUGAR, GRANULATED COTTONSEED OIL 1 & 1 : i ; BEEF, CARCASS V/////////S. BEEF, STEER ROUNDS ^ I t 'HAMS. SMOKtD(CHICAGOi) SLOTHING 1 COTTON YARN 'K£%^^^^ COTTON PR INT CLOTH COTTON SHEETING WORSTED. YARNS I WOMEN'S DRESS GOODS SUITINGS ^^ ^ •A ^^^ SILK. RAW HIDES, PACKER'S * ^^ HIDES, CALFSKINS LEATHER. CHROME ( BOSTON) \ LEATHER, SOLE. OAK BOOTS AND SHOES (BOSTON > BOOTS AND SHOES (ST. LOUIS) , p r FUEL COAL, BITUMINOUS, COAL'. ANTHRACITE COKE PETROLEUM 1 V% • E H fe52.'8j^^^^$^^ i , , ffi, , , , E METALS PIG IRON, FOUNDRY iIr PIG IRON, BASIC STEEL BILLETS, BESSEMER] COPPER i r' LEAD I TIN ^^ ^^ vSz 1 ^^ ZINC 1 . E - BRICK, COMMON (NEW YORK) CEMENT STEEL BEAMS RUBBER CRUDE SULPHURIC ACID '- BUILDING MATERIAL AND MISC L ANEOUS LUMBER, PINE, SOUTHERN LUMBER. DOUGLAS FIR 20' 10 0 10 20 DECREASE INCREASE 1 ' V///////, m — '0 '<> r •i J 4 ' . 50 40 . . . 3Q! 20; I0> DECREASE * Q I0 20 NO CHANGE '**- 4o *& INCREASE *$ 70 80 ** NO QUOTATION ® '& 3° *>' I0 DECREASE 20 30 40 W 60 INCREASE 70 f( WHOLESALE PRICE COMPARISONS NOTE.—Prices to producer on farm products and market price of wool are from U. S. Department of Agriculture, Bureau of Agricultural Economics; nonferrous metals from the Engineering and Mining Journal-Press. All other prices are from U. S. Department of Labor, Bureau of Labor Statistics. As far as possible all quotations represent prices to producer or at mill. See diagram on page 6. PER CENT INCREASE (+) OR DECREASE (— ) ACTUAL PRICE (dollars) Unit COMMODITIES February, February, January, February, February, 1927, from 1927, from January, February, 1927 1927 1926 1927 1926 RELATIVE PRICE (1913 average =100) January, 1927 FebFebruary, ruary, 1927 1926 FARM PRODUCTS—AVERAGE PRICE TO PRODUCERS Wheat Corn _. . . . Potatoes Cotton Cottonseed Cattle, beef Hogs Lambs ... .. . _.... . _ 122.2 .643 1.391 .106 18.55 .0645 .1097 .1065 122.8 .665 1.341 .115 22.39 .0660 .1119 .1084 155.5 .685 2.260 .176 29.06 .0642 .1176 .1202 +0.5 +3.4 -3.6 +8.5 +20.7 +2.3 +2.0 +1.8 -21.0 -2.9 -40.7 -34.7 -23.0 +2.8 -4.8 -9.8 154 104 233 88 85 109 146 175 155 108 225 96 103 112 149 178 196 111 379 147 133 109 157 197 BushelBushel Bushel. Bushel Bushel Bushel Cwt . Pound Pound Cwt Cwt Cwt Cwt 1.45 1.37 .77 .50 .74 1.02 21.00 .134 .44 10.30 11.97 6.44 12.47 1.40 1.37 .76 .48 .78 1.05 21.00 .140 .44 11.06 11.64 7.78 13.24 1.77 1.85 .77 .41 .70 .97 25.00 .206 .53 9.69 12.05 7.89 13.28 -3.4 0.0 -1.3 -4.0 +5.4 +2.9 0.0 +4.5 0.0 +7.4 -2.8 +20.8 +6.2 -20.9 -25.9 -1.3 +17.1 +11.4 +8.2 -16.0 -32.0 -17.0 +14.1 -3.4 -1.4 -0.3 158 139 123 133 118 160 159 105 176 121 143 137 160 153 139 121 128 125 165 159 110 176 130 139 166 170 193 187 124 110 112 152 189 161 212 114 144 168 170 Barrel Barrel Pound Pound Pound Pound Pound Pound 7.46 6.55 .051 .062 .09 .170 .145 .269 7.42 6.54 .049 .060 .09 .170 .150 .273 9.14 8,00 .042 .052 .11 .163 .150 .288 -0.5 -0.2 -3.9 -3.2 0.0 0.0 +3.4 +1.5 -18.8 —18.2 +16.7 +15.4 —18.2 +4.3 0.0 -5.2 163 170 144 144 117 131 111 162 162 170 141 139 125 131 115 164 200 208 121 . 122 155 126 115 173 Pound YardYard Pound Yard Yard. . Pound Pound _ Pound Square foot. Pound Pair Pair .301 .068 .080 1.38 1.00 3.29 5.34 .155 .169 .45 .43 6.40 4.85 .306 .069 .081 1.38 .995 3.29 5.64 .145 .158 .45 .43 6.40 4.85 .399 .086 .101 1.55 1.05 3.60 6.66 .130 .183 .46 .46 6.40 5.00 +1.7 +1.5 +1.3 0.0 -0.5 0.0 +5.6 -6.5 -6.5 0.0 0.0 0.0 0.0 -23.3 -19.8 -19.8 -11.0 -5.2 -8.6 15 3 +11.5 -13.7. -2.2 -6.5 0.0 -3.0 122 128 130 177 213 213 147 84 90 167 96 206 153 124 131 132 177 212 213 155 79 84 167 96 2.06 153 161 162 165 200 233 183 71 97 171 103 206 158 Short ton.. 3.89 Long ton... 11.49 Short ton. _ 3.88 Barrel 1.750 3.64 11.48 3.70 1.700 3.39 11.49 7.84 1.800 -6.4 -0.1 -4.6 -2.9 +7.4 -0.1 -52.8 -5.6 177 216 159 187 166 216 152 182 154 216 322 193 20.26 18.00 33.00 .1268 .0742 .6653 .0667 22.26 20.00 35.00 .1400 .0915 .6265 .0776 0.0 0.0 -5.7 -2.4 -2.1 +2.7 +0.2 -9.0 -10.0 -5.7 -9.4 -18.9 +6.2 -14.0 127 122 136 85 173 149 121 127 122 128 83 170 153 121 139 136 136 92 209 142 141 40.04 17.19 17.00 49.84 16.00 17.00 -1.9 +4.6 0.0 -19.7 +7.4 0.0 177 178 259 174 187 259 216 174 259 -2.4 -2.5 -2.6 0.0 -3.0 0.0 -50.4 +7.1 162 132 33 75 158 129 32 75 168 129 65 70 Bushel Bushel Bushel... Pound Ton Pound Pound _ Pound . ... FARM PRODUCTS-MARKET PRICE Wheat, No. 1, northern spring (Chicago) Wheat, No. 2 red, winter (Chicago) Corn, contract grade No. 2, cash (Chicago) Oats, contract grades, cash (Chicago). Barley, fair to good, malting (Chicago) Rye, No. 2, cash (Chicago) Tobacco, burley, good leaf, dark red (Louisville) Cotton, middling upland (New York) Wool, % blood, combing, Ohio and Pennsylvania fleeces (Boston) Cattle, steers, good to choice, corn fed (Chicago) Hogs, heavy (Chicago) Sheep, ewes ( Chicago) _. Sheep, lambs (Chicago), FOOD Flour standard patents (Minneapolis) . . Flour, winter straights (Kansas City) Sugar, 96° centrifugal (New York) Sugar, granulated, in barrels (New York)... Cottonseed oil, prime summer yellow (New York) Beef, fresh carcass good native steers (Chicago) Beef, fresh, steer rounds No. 2 (Chicago) Pork, smoked hams (Chicago) CLOTHING Cotton yarns, carded, white, northern, mule spun, 22-1 cones (Boston)... Cotton-print cloth, 27 inches, 64 x 60-38>i"-5. 35—yards to pound Cotton sheeting, brown 4/4 Trion (New York).. Worsted yarns, 2/32's cross-bred stock, white, in skein (Boston) Woman's dress goods, French, 39 inches at mills, serge Suitings, wool, dyed blue, 55-56 inches, 16-ounce Middlesex (N. Y.) . Silk, raw, Japanese, Kansai No. 1 (New York) Hides, green salted, packers' heavy native steers (Chicago) Hides, calfskins, No. 1, country, 8 to 15 pounds (Chicago) Leather, chrome calf, dull or bright "B" grades (Boston) Leather, solo, oak, scoured backs, heavy (Boston) Boots and shoes, men's black calf, blucher (Massachusetts). Boots and shoes, men's dress welt tan calf (St. Louis) FUEL Coal, bituminous, mine-run Kanawha (Cincinnati) Coal, anthracite, chestnut (New York tidewater) Coke, Connellsville (range of prompt and future) furnace— at ovens Petroleum, crude, Kansas- Oklahoma—at wells .. METALS Pig iron, foundry No. 2, northern (Pittsburgh) Pigron, basic, valley furnace Steel billets, Bessemer (Pittsburgh). Copper ingots, electrolytic, early delivery (New York) Lead, pig, desilverized, for early delivery (New York) Tin, pig, for early delivery (New York) Zinc, slab, western (St. Louis) _ Long ton... 20.26 Long ton... 18.00 Long ton... 35.00 Pound .1268 _ Pound .0758 Pound .6479 Pound .0667 BUILDING MATERIAL AND MISCELLANEOUS Lumber, pine, southern, yellow flooring, 1 x 4, "B" and better (Hattiesburg district) Lumber, Douglas fir, No. 1, common s 1 s, 1 x 8 10 (Washington) Brick, common red, domestic building (New York) _. . Cement, Portland, net without bags to trade, f. o. b. plant (Chicago district) Steel beams, mill (Pittsburgh) Rubber, Para, Island, fine (New York) Sulphuric acid 66° (New York) Mfeet Mfeet Thousand.. Barrel Cwt Pound Cwt 40.81 16.43 17.00 1.64 2.00 .268 .75 1.60 1.95 .261 .75 1.65 1.95 .526 .70 8 PIG IRON PRODUCTION AND UNITED STATES STEEL CORPORATION'S UNFILLED ORDERS [February, 1927, is latest month plotted] 14,000 AUTOMOBILE PRODUCTION AND NEW BUILDING CONSTRUCTION [February, 1927, is latest month plotted] 800 BUILDING CONTRACTS AWARDED I ( 27 STATES ) TOTAL AUTOMOBILE PRODUCTION 1927 LOCOMOTIVE SHIPMENTS AND UNFILLED ORDERS [February, 1927, is latest month plotted] 4,000 T~ 2,000 1927 9 BUSINESS SUMMARY [Index and relative numbers based on the 1919 monthly average as 100—except unfilled orders, which are based on the 1920 average enable comparisons to be made of the relative condition of the several phases of business. The use of index and relative numbers is more fully explained on the inside front cover, while further details are given in the table entitled "Indexes of Business" on pages 18 to 20] 1936 YEARLY AVERAGE 1923 1924 ! 1925 1926 ! PROBATION: Manufacturing (64 commodities—adjusted)1 Raw materials, total MineralsAnimals products Crops Forest products Electric power Building (awards— floor space) STOCKS (45 commodities; seasonal adjustment). _ _ UNFILLED ORDERS (relative to 1920) SALES (based on value) : Mail-order houses (4 houses) _ » Ten-cent chains (5 chains). Wholesale trade Department stores (359 stores) _ PRICES (recomputed to 1919 base) : Producers', farm products. Wholesale, all commodities Retail food _ _ * Cost of living (including food)... CHECK PAYMENTS (141 cities— seasonal ad j ustment) FACTORY EMPLOYMENT (1919 base) » TRANSPORTATION : Net freight ton-mile operation Carloadings (monthly total).. Net available car surplus (end of month) 1 2 Novem- Decem- January FebruJanuary February ber ary j ber j February, 1927, from January, 1927 February, 1927, from February, 1926 119 114 136 117 102 121 144 113 119 126 117 118 119 152 126 117 133 113 111 126 169 128 121 142 114 117 119 188 123 111 122 107 109 108 189 130 92 113 95 79 114 173- 121 165 158 125 199 113 199 113 140 150 126 149 106 209 117 122 147 111 121 97 207 127 108 139 99 102 99 + 8.5 -11.5 -5.4 -10.8 -15. 7 + 2.1 -2. 3 + 17.4 + 23.4 + 4. 2 + 29. 1 -13.2 106 108 138 133 117 90 131 119 95 99 + 4.2 + 10. U 119 135 144 171 167 164 198 186 182 186 + 2.2 + 13. 4 74 52 56 50 61 57 45 47 47 48 + 2.1 -15.8 99 165 83 105 185 82 118 209 84 123 229 84 116 166 78 111 170 76 153 247 86 166 466 78 1 107 177 74 107 191 73 0.0 + 7.9 -1.4 -3.6 + 12.4 -3.9 124 125 131 136 114 104 157 234 114 106 -7.0 + 1.9 65 75 78 64 73 78 70 77 84 65 73 86 68' 76 88 68 75 87 62 72 87 61 71 87 60 71 85 61 71 84 + 1.7 0.0 -1.2 -10.3 -5.3 -3.4 94 95 98 98 99 99 98 98 97 96 -1.0 -3.0 103 no 127 135 139 140 124 135 140 150 + 7.1 + 7.1 93 84 84 85 85 86 84 84 82 84 + 2.4 -2.3 115 108 115 123 114 107 131 121 119 119 116 122 127 127 105 123 108 130 110 -15.4 +. 8 25 139 146 124 152 126 87 167 157 166 + 5.7 + 31.7 See p. 28, January, 1925, issue (No. 1), for 4etails of adjustment. 39820—27 PER CENT INCREASE (-f ) OR DECREASE (— ) 1927 10 COURSE OF BUSINESS IN FEBRUARY GENERAL CONDITIONS Manufacturing production in February, after adjustment for differences in working time, although smaller than a year ago, was substantially greater than in January. Stocks of commodities, after correction for seasonal conditions, were higher than in either the previous month or February of last year. Unfilled orders for manufactured commodities, principally iron and steel and building materials, although lower than last year, were higher than in the preceding month. The production of raw materials was greater than last year. New contracts awarded for building construction, measured in floor space, were greater than in either the previous month or February, 1926. Although the production of passenger automobiles was greater than in January, the output was much smaller than in February of last year. Factory employment was greater than in the previous month, but smaller than'a year earlier. Check payments, indicative of the general volume of trade, after adjustment for seasonal variations, were hi her than in either the previous month or February a year ago. Freight carloadings were greater than a year ago. The dollar volume of wholesale trade was smaller in February than in either the previous month or a year ago. Sales by mail-order houses, although showing no change from the previous month, were smaller than last year. Ten-cent store business, however, was larger than in either the previous month or February, 1926. Department-store trade was greater than last year. Wholesale prices averaged lower than in either the previous month or February of last year with a similar comparison in the cost of living. Prices of stocks, both industrial and railroad, increased over both the previous month and the corresponding month a year ago. Interest rates, on both time and call loans, averaged lower than in either prior period. Bond prices, showing no change from the previous month, were higher than last year. Defaulted liabilities of failing business firms, although smaller than in January, were greater than a year earlier. SUMMARY OF INDEXES OF BUSINESS PRODUCTION The output of raw materials was smaller in February than in January, but larger than a year ago, increases over February, 1926, being registered in all groups except forest products, which declined. Mineral production showed larger output than last year, except in the case of gold and silver, which were produced in smaller quantities. All animal products were marketed in larger quantities than a year earlier except hogs and poultry, which declined. All groups of crops were marketed in larger quantities than a year ago. Manufacturing production, after adjustment for differences in working time, increased almost 9 per cent over the previous month, but was lower than a year ago. As compared with last year, all industrial groups showed lower output except textiles, leather, chemicals, stone and clay products, and tobacco, which registered increases. As compared with the preceding month, with no adjustment for the shorter month, declines were registered in all groups except lumber, leather, and miscellaneous, including automobiles, each of which increased. COMMODITY STOCKS Commodity stocks, after adjustment for seasonal conditions, were larger at the end of February than a the end of either the previous month or February a year earlier. Stocks of raw foodstuffs alone were responsible for the increase in the general index over the previous month, other groups showing declines. As compared with last year, all groups within the index were higher, except manufactured foodstuffs, which recorded a decline. 11 RELATIVE PRODUCTION, STOCKS, AND UNFILLED ORDERS FOR MANUFACTURED COMMODITIES [1920 monthly average=100. Adjustment has been made for both stocks and production for their respective seasonal movements. Unfilled orders are principally those of iron, steel, and building materials. February, 1927, is latest month plotted] SALES The index of unfilled orders for manufactured commodities, principally iron and steel and building materials, increased over the previous month, the decline in iron and steel being more than offset by an advance in building materials. As compared with a year ago, the general index was substantially lower, with each major group showing the same condition. Wholesale trade showed lower sales volume than in either the previous month or February, 1926, increases over the preceding month in the sales of hardware, shoes, and dry goods being insufficient to offset declines in groceries, drugs, and meats. As compared with a year ago, wholesale trade in all lines was lower except shoes, which registered an advance. Department-store trade was larger than a year ago, and no change was reported in department-store inventories. Sales by mail-order houses, though showing no change from the previous month, were smaller than in February, 1926. Sales by 10-cent chain stores, however, registered increases in February over both the preceding month and the corresponding month a year earlier. Although trade of chain groceries and chain drug stores was lower than in January, the February volume of business was substantially greater than a year earlier. Sales by chain shoe, music, cigar, and candy stores, however, showed increases over both the previous month and February, 1926. PRICES The wholesale price index again declined, both from the preceding month and February, 1926. All groups entering into the general index showed declines from the preceding month except cloths and clothing, house furnishings, and sundry miscellaneous items, which increased. As compared with a year ago, all groups were lower, with the greatest declines occurring in chemicals, building materials, farm products, and cloths and clothing. Reclassified, the index of prices showed a decline from the previous month in both producers' and consumers' goods, with no change in raw materials. As compared with February, 1926, however, all groups were lower. The index of prices received by farmers increased in February over the previous month, but was lower than a year ago. As compared with the previous month, all groups were higher in price except dairy and poultry products and sundry unclassified items, which declined. As compared with February, 1926, all groups were lower, with the greatest declines occurring in cotton, fruits and vegetables, and grains. Retail prices for food continued to decline, both as compared with the previous month and the corresponding month of a year ago. The general cost-ofliving index was lower than in either the previous month or February, 1926, all groups showing declines from the preceding month except light and sundries, which showed no change. As compared with last year all groups were lower except light, which advanced. 12 COMPARISON OF WHOLESALE AND RETAIL FOOD PRICE INDEX NUMBERS WITH INDEX OF ALL COMMODITIES AT WHOLESALE [U. S. Department of Labor index numbers. Relative prices, 1913=100. February, 1927, is latest month plotted] 250 240 EMPLOYMENT More workers were carried on- industrial pay rolls in February than in the preceding month, but smaller industrial employment was registered than a year ago. As compared with January, increases in the number of employees in textile, iron and steel, chemical, stone, clay and glass, nonferrous metals, tobacco, and vehicle factories contrasted with declines in foodstuff and lumber factories. All industrial groups showed smaller employment than last year, except paper and printing and miscellaneous, which increased, and textiles, which showed no change. Factory pay-roll payments, although smaller than a year ago, were larger than in January. As compared with the preceding month, all industrial groups showed larger pay-roll payments, except food products, which declined, and paper and printing, which showed no change. Compared with last year, all groups were lower, except textiles, leather, paper and printing, chemicals and miscellaneous, which showed larger pay-roll payments. Reports on employment conditions from States and cities showed relatively the same trends. Reduced to a percentage of the number on factory pay rolls, lay offs were greater than a year ago, while industrial accessions were smaller. Discharges, however, were fewer than in either the preceding month or February a year earlier. REVIEW BY PRINCIPAL BRANCHES OF INDUSTRY AND COMMERCE TEXTILE INDUSTRIES More wool was received in Boston in February than in the preceding month but less than a year ago, due to the smaller receipts of foreign wool. Imports of wool also exceeded those of Januarj7 but were smaller than a year ago. The consumption of wool by textile mills was smaller than during the preceding month but larger than in February, 1926. The activity of wool machinery was generally less than in January but greater than a year ago. Consumption of cotton by textile mills declined from the preceding month but exceeded February, 1926. Exports of unmanufactiired cotton, although smaller than in January, were larger than a year ago. Stocks of cotton at mills and warehouses at the end of February were considerably larger than last year; the world visible supply of cotton was also larger than a year ago. The number of cotton spindles active during February was slightly larger than during the previous month and almost as great as a year ago. The total hourly activity, due to the short month, was less than' in January but slightly greater than in February, 1926. Reduced to a percentage of plant capacity, hourly activity of cotton spindles exceeded that of either the previous month or a year ago. 13 THE TEXTILE INDUSTRIES [Relative numbers, monthly average 1923-1925 taken as 100. February, 1927, is latest month plotted] 1920 1921 1922 1923 1924 1925 s 100 1927 1920 1921 E922 1923 1924 1925 (926 1927 1927 1920 192! 1922 1923 1924 1925 1926 1927 ,'i -h. CONSUMPTION 1926 U 40 \l U I 20 1920 COTTON 1921 1922 1923 1924 1925 1926 The production of cotton textiles was smaller than in January but exceeded a year ago. Activity of cotton finishing mills exceeded both prior periodsbillings, orders received, and shipments all being larger than in either the previous month or in February, 1926. Exports of cotton cloth, on the other hand, were smaller than in either January or a year ago. Consumption of silk was considerably smaller in February than in either the previous month or the same month a year ago. Stocks of silk, both at mills and warehouses, declined from the end of the previous month, with mill stocks being smaller and warehouse stocks slightly larger, than at the end of February, 1926, The activity of silk machinery was less than in either the preceding month or the corresponding month of last year. The prices of raw wool and of woolen goods showed little change from the previous month but were uniformly less than a year ago. The prices of raw cotton, cotton yarns, and piece goods increased over January but all were much lower than a year ago. Raw silk prices also averaged higher than during the preceding month but were considerably less than in February, 1926. 14 METAL INDUSTRIES The consumption of iron ore in February was smaller than in the previous month, due to a smaller number of workings days; it also declined from a year ago. Stocks of iron ore were slightly larger than at the end of February, 1926. Pig-iron production, while less than in January, was slightly larger than a year ago. The output of steel ingots was slightly less than during either the previous month or February of last year. Unfilled orders for steel also declined from both periods. The output of steel sheets was larger than in January but less than a year ago. New orders either prior period. New orders for machine tools were also larger than during the previous month but were a little smaller than a year ago. The mine and smelter production of copper was each less than during the previous month but larger than a year ago. Stocks of blister copper held in North and South America exceeded those held at the end of February, 1926, but were smaller than at the end of the previous month. Stocks of refined copper, on the other hand, exceeded those at the end of either prior period. Exports of refined copper were less than during January, although considerably larger than a year ago, while domestic shipments declined from both prior periods. THE METAL INDUSTRIES [Relative numbers, monthly average 1923-1925 taken as 100. February, 1927, is latest month plotted] 1920 1921 1922 1923 1924 J925 1926 1927 1920 1921 1922 1923 1924 1925 1926 1927 1920 1921 1922 1923 1924 1925 1926 1927 1920 192! 1922 1923 1924 1925 1926 1927 100 for steel castings were less than for either the previous month or February, 1926, production being practically the same as in January but considerably smaller than a year ago. New orders, shipments, and production of malleable castings, on the other hand, were larger than in January, shipments and production being less and new orders practically the same as in February, 1926. New orders for both fabricated structural steel and fabricated steel plate were considerably larger than in either the previous month or February, 1926. The steel-barrel industry exhibited lessened activity—production, shipments, and unfilled orders showing declines from both the previous month and a year ago, while stocks increased. Shipments of mechanical stokers .during February, on the other hand, were considerably larger, both in number an4 m horsepower than for Deliveries of tin to consuming establishments were smaller than during either the preceding month or February, 1926, while the world visible supply continued to decline as compared with both prior periods. Imports of tin were the smallest recorded for more than a year and stocks in the United States were less than at the end of either the previous month or February, 1926. Production of zinc was smaller than in either the preceding month or the same month of 1926. Stocks, both at mines and at refineries, were larger than at the end of either prior period. Lead production was slightly less than in January but larger than a year ago. New orders and shipments of enameled sanitary ware were generally smaller than in either the previous month or February, 1926, while stocks increased as compared with those reported at the end of either prior period, 15 FUELS The production of bituminous and anthracite coal declined seasonally but in each case exceeded last year's February production. Exports also declined from the previous month and exceeded those of last year. Bituminous coal prices declined from January, while those of anthracite remained unchanged. Production of both beehive and by-product coke was slightly less than in either January or the corresponding month of last year. PRODUCTION OF BITUMINOUS AND ANTHRACITE COAL [February, 1927, is latest month plotted] Imports of rubber during February were less than in either the previous month or the corresponding month of last year. The wholesale price of rubber declined slightly and was less than half that of a year ago. The production of pneumatic tires was slightly larger than during either the preceding month or the corresponding month of last year. Shipments, however, were less than in January with a resultant increase in stocks.. The output of inner tubes, although larger than in January, was much less than a year ago. Shipments declined from the previous month, although they exceeded those of last February. Stocks, while less than a year ago, were larger than at the end of January. HIDES AND LEATHER BEEHIVE AND BY-PRODUCT COKE PRODUCTION [February, 1927, is latest month plotted] Imports of hides during February were less than during either the previous month or the corresponding month of last year, the decline in imports of cattle hides more than offsetting increases in goatskins and calfskins. Hide prices declined from January. The production of sole leather was larger than during either the previous month or February, 1926. Exports of sole leather also exceeded those of the previous month, although they fell somewhat short of last year's total. Exports of upper leather, on the other hand, were less than in January, but greater than a year ago. Leather prices were the same as during the previous month but slightly less than a year ago. Belting sales were considerably less than for either the previous month or February of last year. The production of shoes exceeded that of either January, 1927 or of February, 1926. Exports of shoes, on the other hand, were considerably less than during either the previous month or the corresponding month of last year. PAPER AND PRINTING AUTOMOBILES AND RUBBER More passenger automobiles and trucks were produced in the United States in February than during the previous month. Truck production was also larger than a year ago, but passenger car production was much smaller. Canadian production of passenger cars and trucks was substantially larger than that of January, passenger-car production being slightly larger and truck production smaller than in February, 1926. Imports of wood pulp were much smaller during February than in either the previous month or the corresponding month of last year. The output and shipments of newsprint paper also declined from January, that for the United States being smaller and that of Canada larger than a year ago. The production of paper-board shipping boxes was considerably larger than during either the preceding month or the corresponding month of last year, both corrugated and solid fiber boxes participating in the upward trend, 16 NEWSPRINT PAPER PRODUCTION AND MILL STOCKS [February, 1927, is latest month plotted] increases. Unfilled orders of both kinds of flooring exceeded those at the end of the previous month, but were less than at the end of February, 1926. STONE AND CLAY PRODUpTS 1922 1923 1924 1925 1926 1927 BUILDING Building costs exhibited little change from either the preceding month or February, 1926. Such changes as were recorded were generally downward. The volume of new building contracts was slightly larger, both in square footage and in value, than in either the preceding month 'or the same month of last year. All classes of buildings except those for commercial purposes showed an increase over January in the floor space of contracts awarded. The value of awards in February was larger than in the preceding month for industrial, educational, and other public and semipublic buildings. Declines from a year ago in the value of awards took place only in buildings used for residential purposes and public works and utilities. Fire losses were much smaller during February than for either the previous month or the corresponding month of last year. The production and shipments of face brick exceeded those for either the previous month or the corresponding month of last year. Stocks also increased, as compared with the end of either prior period, and unfilled orders, although larger than at the end of January, were less than a year ago. An increase in the production of paving brick was accompanied by a decline in shipments, which resulted in larger stocks at the end of the month. Production, shipments, and stocks of paving brick were all less than a year ago. A considerable decline was recorded in shipments of vitreous-china plumbing fixtures, as compared both with the previous month and the corresponding month of last year. The production of Portland cement was smaller and shipments larger than for either the previous month or February, 1926. Stocks also slightly exceeded those at the end of either prior period and prices declined. Paving contracts showed a slight increase over January, but were considerably less than those awarded a year ago. CEMENT PRODUCTION AND STOCKS [February, 1927, is latest month plotted] LUMBER AND LUMBER PRODUCTS The production of lumber during February was somewhat larger than during the previous month butless than a year ago, declines in production, as compared with January, being noted only for southern pine and California white pine, with an increase over February, 1926, occurring in the case of northern pine. New orders and shipments ako generally exceeded those of the previous month but were less than those of February, 1926, with few exceptions. Stocks, on the other hand, were smaller than at the end of January and larger than a year ago, southern pine being the only kind of lumber to show an increase in stocks from January, while the only decrease from a year ago occurred in stocks of western pine. Shipments of flooring, both oak and maple, were larger than during January, shipments of maple flooring also exceeding those of February, 1926. New orders and production of maple flooring, however, were less and those of oak flooring greater than in January, while, as compared with a year ago, the output of maple flooring and new orders for oak flooring showed CHEMICALS AND OILS Receipts of turpentine and rosin at the principal southern ports continued to decline seasonally, although they were larger than a year ago. Stocks of turpentine were slightly larger and those of rosin smaller than at the end of February, 1926. The production of roofing felt was larger than during either the previous month or February of last year, stocks being larger than at the end of January and smaller than a year ago. Shipments of prepared roofing exceeded those of January but were less than a year ago. Imports of vegetable oils were much less during February than during either the previous month or the corresponding month of last year. The consumption of oleomargarine declined from both prior periods. 17 The production of cottonseed oil and meal was smaller than during January but larger than a year ago. Shipments of linseed oil and oil cake were less than for either prior period and stocks of flaxseed exceeded those of a year ago. Imports of nitrate of soda and potash were considerably less than during either the WHOLESALE PRICES OF CHEMICALS, BY GROUPS [February, 1927, is latest month plotted] pervious month or the corresponding month of last year. The consumption of fertilizer "in Southern States was almost 40 per cent less than a year ago. FOODSTUFFS AND TOBACCO The visible supply of wheat was larger than a year ago, with receipts, shipments, and exports showing similar comparisons with last year. The visible sup- ply of corn was also larger than a year ago, while corn receipts, shipments, and exports were smaller than a year ago. Wheat and corn prices averaged lower than in either the preceding month or February a year ago. Receipts and shipments of cattle and calves at primary markets were larger than last year. Coldstorage holdings of beef products at the end of the month also showed an increase over a year ago. Prices for cattle averaged higher than in either the previous month or February, 1926, with beef prices showing similar comparisons. Receipts and shipments of hogs were smaller than last year, while cold-storage holdings of pork and pork products were greater than a year earlier. Hog prices averaged lower than in either the previous month or February, 1926, while pork prices, though higher than in the preceding month, were lower than last year. Receipts of poultry were smaller than a year ago, but cold-storage holdings were greater. Butter receipts were likewise smaller than last year, with storage holdings less than half as large as a year ago. Cheese receipts, however, were greater than a year ago, but storage holdings were smaller. Egg receipts were larger than in February, 1926, with storage holdings showing a similar comparison. The catch of fish was larger than in February, 1926. THE FOODSTUFF INDUSTRIES [Relative numbers, monthly average 1923-1925 taken as 100. February, 1927, is latest month plotted] llll.l.ltlllllilll.lll 1920 1920 1921 39820—27 1922 1923 1924 1925 1926 1927 1920 1922 1923 1924 1925 1926 1927 1920 3 192! 1922 1923 1924 1925 1926 1927 1922 1923 1924 1925 1926 1927 18 Imports and meltings of raw sugar were smaller than month of the previous year. Although tea stocks hi a year ago. Stocks of raw sugar at refineries were the United Kingdom were smaller at the end of greater than last year. Exports of refined sugar from February than in the previous month, they were larger the United States, although larger than in January, than a year ago. were smaller than a year ago. Wholesale prices for raw Tax-paid withdrawals of cigars from warehouses sugar declined from January but were still above last showed smaller consumption in February than in year, with similar comparisons in the case of prices for either the preceding month or February, 1926. Fewer I cigarettes were withdrawn than in January, but the refined sugar. Imports of coffee in February were larger than in | indicated February cigarette consumption was larger either the preceding month or the same month of 1926, than a year earlier. The consumption of manufacbut the world visible supply at the end of February tured tobacco was smaller than in either the previous was smaller than last year. Receipts and clearances month or February, 1926. Cigarette exports, though smaller than in January, were larger than last year. of coffee in Brazil were greater than last year. Imports of tea in February were smaller than in either the preceding month or the corresponding 19 TRANSPORTATION Car loadings of goods were larger than a year ago, all groups showing larger loadings except grains and forest products, which declined. The freight-car surplus at the end of the month was considerably greater than a year ago. Shipments of railroad locomotives by manufacturers, although greater than in January, were only half as large as a year earlier. Unfilled orders for locomotives were also smaller than last year. DISTRIBUTION MOVEMENT Mail-order business for February showed a smaller dollar volume than in either the previous month or February, 1926. Sales by 10-cent stores, however, were larger than in either prior period. Departmentstore business also showed a larger volume than last year, while wholesale trade showed smaller business. month or February of last year. Bond prices, although lower than in the previous month, were higher than last year. Dividend payments scheduled for March were greater than a year ago. Business failures were fewer and showed smaller liabilities than in January but each was larger than a year earlier. GOLD AND SILVER Both imports and exports of gold were smaller than in either the previous month or February a year earlier, with February imports showing a substantial import balance, continuing the trend established in October, 1926. Both imports and exports of silver showed declines from each prior period, with a similar comparison in the domestic production of silver. Silver prices, although averaging higher than in the previous month, were considerably lower than last year. BANKING AND FINANCE FOREIGN EXCHANGE AND TRADE Check payments, both in and out of New York City, were greater than last year. Loans and discounts of Federal reserve member banks at the end of February were larger than in either the preceding month or February, 1926. Interest rates, on both time and call loans, averaged lower than in either prior period. Prices of stocks, both industrial and railroad, averaged higher than in either the previous Exchanges on the principal foreign countries showed increases over the previous month in the French franc, the Argentine peso, and the Brazilian milreis, other exchanges either declining or showing no change. Imports of merchandise into the United States were smaller than in either the previous month or February of last year. Exports, however, although smaller than in January were greater than a year ago. BANKING AND FINANCE [Relative numbers, monthly average 1923-1925 taken as 100. February, 1927, is latest month plotted] 1920 1921 1922 1923 1924 1925 1926 1927 1920 1921. 1922 1923 1924 1926 1926 !927 1926 1927 BUSINESS PROFITS AND LOSSES 1920 192! 1922 1923 1924 1925 1926 1927 1920 1921 1922 1923 1924 1925 20 INDEXES OF BUSINESS The index numbers presented in this table are designed to show the trend in production, prices, trade, etc., in various groups of industry and commerce. They consist in general of weighted combinations of series of individual relative numbers; often the individual relative numbers making up the series are also given. The function of index and relative numbers is explained on the inside front cover. A condensed form of this table is given on page 9. 1926 PER CENT INCREASE (+) OR DECREASE (— ) 1937 Maximum since Jan. 1, 1920 Minimum since Jan. 1, 1920 January 180 73 111 92 165 165 229 154 122 273 152 191 146 131 145 6? 105 41 0 0 17 78 38 57 80 122 189 138 2 0 141 180 149 87 109 113 173 120 28 0 135 169 132 75 107 138 253 143 177 153 245 390 185 190 80 19 58 64 54 30 21 45 94 107 27 90 115 68 76 135 79 135 246 242 254 405 346 170 49 43 58 50 12 19 136 137 164 267 149 61 59 51 20 24 January February February, 1927, from January, 1927 February, 1927, from February, 1926 140 122 108 -11.5 + 17.4 158 220 154 101 100 148 183 138 106 101 150 229 149 103 1 143 191 146 90 119 147 227 147 89 0 152 184 136 82 110 139 225 136 80 0 137 171 136 67 106 -5.4 -0.9 -7.5 -10. 1 + 23.0 + 30. 1 + 13. 3 + 185.7 -9.9 -7.1 0.0 -18.3 -3.6 + 1.5 + 1.2 + 3.0 -10.7 -0.9 95 29 76 90 66 90 97 85 124 125 47 120 95 85 49 353 115 136 126 56 90 105 75 63 388 77 141 111 34 89 114 77 82 140 105 142 99 36 76 89 71 99 96 112 132 -10.8 + 5.9 -14.6 —21. 9 -7.8 + 20.7 -31.4 + 6.7 -7.0 + 4.2 +24. 1 0.0 -1. 1 + 7.6 + 10.0 -1.0 + 31.8 + 6.5 109 105 111 77 114 130 79 82 97 75 74 79 199 108 137 202 343 142 149 90 104 104 251 117 121 104 127 96 150 113 102 88 119 94 118 100 -15.7 — 15. 4 -6.3 -2. 1 — 21. 3 -11.5 +29.1 + 7.3 +22. 7 +25.3 + 59.5 + 26.6 108 109 120 56 112 114 119 97 45 104 113 110 108 184 107 106 102 97 209 102 97 100 79 61 116 99 104 82 42 99 +2.1 + 4.0 + 3.8 -31. 1 -14.7 -13.2 -12.6 -15.5 -6.7 -4.8 +8.5 + 0.9 -11.7 -1.7 -2.4 + 2.5 + 5.1 -10.9 -10. 1 0.0 — 10. 8 -7.0 + 18. 1 -2.3 -2.5 -3.2 + 6.6 -3.9 -13.8 + 7.8 -6.2 + 8.5 + 5.9 -2.0 + 1.9 -6. 1 Febru- Novem- Decemary ber ber PRODUCTION (Relative to 19 monthly average as 100) RAW MATERIALS Grand total _ MINERALS Total Petroleum Bituminous coal Anthracite coal Iron ore * Copper Lead Zinc - _ Gold Silver ANIMAL PRODUCTS (marketings) Total Wool* Cattle and calves Hogs Sheep Eggs* Poultry Fish Milk (New York) __ __ _ CROPS (marketings) Total _ Grains*- __ Vegetables * Fruits * Cotton products * _ _ . Miscellaneous crops * _ _ __ FOREST PRODUCTS Total _ Lumber _ Pulp wood _ _ Gum (rosin and turpentine) * Distilled wood _ ! MANUFACTURING Grand total (adjusted for working days) Grand total (unadjusted) Foodstuffs- __ _ Textiles _ Iron and steel Lumber _ _ Leather Paper and printing Chemicals, oils, etc Stone and clay products Metals, excepting iron and steel Tobacco Miscellaneous 135 137 129 130 151 166 115 127 210 174 195 137 157 71 68 77 54 32 57 63 69 92 69 71 70 37 123 123 108 108 140 137 75 122 180 95 167 110 121 " Fluctuations between maximum and minimum due largely to seasonal conditions. 130 121 94 106 129 145 77 113 164 85 152 105 132 121 121 101 113 127 137 84 123 205 144 154 128 105 113 113 102 116 119 127 82 118 210 115 142 104 86 117 117 103 115 127 122 79 119 198 90 167 115 105 127 118 91 113 124 125 83 106 178 90 149 107 124 21 INDEXES OF BUSINESS—Continued mi 1926 Maximum since Jan. 1, 1920 Minimum since Jan. 1, 1920 January 198 346 189 121 201 91 73 89 58 86 167 228 169 74 179 164 227 163 74 174 198 346 161 76 180 186 303 160 70 182 189 299 217 115 197 84 70 68 56 88 165 218 181 72 175 166 237 163 69 175 189 270 217 76 183 116 112 153 40 32 25 61 48 114 57 44 110 120 129 136 135 133 150 1 89 60 59 43 62 88 58 146 78 86 43 77 111 79 79 170 49 466 223 373 261 222 303 215 PER CENT INCREASE (+) OR DECREASE (-) February February, 1927, from January, 1927 February, 1927, from February, 1926 183 256 179. 70 201 186 277 177 67 196 + 1.6 + 8.2 -1. 1 -4.3 -2.5 + 13.4 + 22. 0 + 8.6 -9.5 + 12.6 189 273 205 68 193 189 272 191 70 197 193 299 175 69 197 +2.1 + 9.9 -8.4 -1.4 0.0 + 16.3 + 26.2 + 17.2 0.0 + 12.6 45 38 74 47 39 78 47 38 84 48 36 94 +2.1 -5.3 + 11. 9 -15.8 -18.2 -14.5 76 87 50 71 110 85 75 86 104 67 87 117 91 76 78 99 60 80 110 71 73 74 81 45 74 112 72 77 73 82 53 68 104 79 73 -1.4 + 1.2 + 17.^ -8. 1 -7. 1 + 9.7 -5.2 -3.9 -5.7 + 6.0 -4.2 -5.5 -7. 1 -2.7 116 111 153 166 107 107 0.0 -3.6 84 55 119 109 106 109 72 166 101 286 178 127 167 108 170 103 287 172 127 173 97 247 146 347 198 150 232 150 466 223 373 261 222 303 215 177 94 343 209 134 178 106 191 106 333 201 137 194 110 + 7.9 + 12.8 -2.9 -3.8 + 2.2 + 9.0 + 3. 8 + 12.4 + 2.9 + 16.0 + 16.9 + 7.9 + 12. 1 + 13. 4 234 156 80 100 114 125 104 131 157 156 234 128 114 123 106 131 -7.0 + 6. 5 + 1.9 0.0 Number employed, by industries: 3 102 Total, all classes.. 2107 Food products 2 103 Textiles _ . 2 104 Iron and steel. 2 103 Lumber 2 105 Leather 2 Paper and printing 101 2 105 Chemicals , 2 105 Stone, clay, and glass __ 2 Metal products other than iron and steel. 2 107 108 Tobacco products 2 103 Vehicles 2 107 Miscellaneous 2 85 2 86 2 81 2 79 2 84 2 83 2 93 2 84 2 89 2 66 2 78 2 75 2 92 90 90 91 89 91 103 98 94 100 85 93 97 93 89 90 93 90 93 102 101 94 102 89 94 98 91 92 86 91 90 92 107 99 101 95 87 85 99 91 90 88 90 88 91 106 97 96 94 87 83 101 89 89 88 88 84 92 104 98 89 92 78 81 101 91 88 90 90 83 92 104 100 91 93 84 85 103 +2.2 -1. 1 + 2.3 + 2.3 -1.2 0.0 0.0 + 2.0 + 2.2 + 1.1 + 7.7 + 4.9 + 2.0 -2.2 -1. 1 0.0 -3.2 -7.8 -1. 1 + 2.0 -1.0 -3.2 -8.8 -5.6 -9.6 + 5. 1 Febru- Novem- Decemary ber ber January STOCKS (Relative to 1919 monthly average as 100) (Corrected for seasonal variation) Total Raw foodstuffs Raw materials for manufacture Manufactured foodstuffs Other manufactured commodities. (Unadjusted index) _ _ Total R a w foodstuffs. - _ . Raw materials for manufacture Manufactured foodstuffs Other manufactured commodities UNFILLED ORDERS (Relative to 1920 monthly average as 100) (Iron, steel, and building materials) Total (8 commodities) Iron and steel _ Building materials __ _- WHOLESALE TRADE (Relative to 1919 monthly average as 100) (Distributed by Federal reserve districts) Grand total, all classes. Hardware (10 districts) Shoes (8 districts) Groceries (11 districts) Drugs (7 districts) Dry goods (8 districts) Meats RETAIL TRADE (Relative to 1919 monthly average as 100) MAIL-ORDER HOUSES (4 houses) CHAIN STORES: Ten-cent (5 chains) Music (4 chains) Grocery (27 chains) Drugs (9 chains) Cigar (3 chains) Candy (5 chains) Shoe (6 chains) DEPARTMENT STORES: Sales (359 stores) Stocks (314 stores) EMPLOYMENT (Relative to 1923 monthly average as 100) i Since Jan. 1,1921. 80 » Since July 1,1922. 22 INDEXES OF BUSINESS—Continued Minimum since Jan. 1, 1920 Amount of pay roll, by industries: Total, all classes.. '105 2 Food products 107 2 Textiles 106 2 Iron and steel 108 2 Lumber _ _ 106 2 Leather _ _ 108 2 Paper and printing 116 2 Chemicals 106 2 Stone, clay, and glass. 112 Metal products other than iron and steeL 22 110 Tobacco products 112 2 Vehicles 107 2 Miscellaneous 112 2 74 2 85 2 72 2 62 2 84 2 70 2 88 2 85 2 84 2 70 2 78 2 60 2 72 94 94 91 95 91 87 110 100 98 101 88 86 100 98 93 93 99 96 91 110 101 101 104 86 98 102 235 283 373 186 215 304 180 110 88 108 91 122 76 74 143 143 214 140 153 138 87 248 243 248 346 281 203 300 213 275 208 138 114 131 171 162 109 155 121 160 111 244 249 249 PEE CENT INCREASE (+) OB DECREASE (— ) 1937 1926 Maximum since Jan. 1, 1920 February,! 1927, from January, 1927 February, 1927, from February, 1926 Febru- Novem- December ber ary January February 95 96 85 96 100 87 115 104 109 96 92 88 103 96 95 89 96 96 86 116 104 105 96 90 82 110 91 93 89 91 87 87 113 102 92 92 78 74 107 96 92 94 96 89 92 113 106 98 95 81 89 109 + 5.6 + 5.5 + 2.3 + 5.7 0.0 + 3.9 + 6.5 + 3.3 + 3.8 +20.3 + 1.9 -2.0 -1. 1 + 1.1 -3.0 -7.3 + 1.1 + 2.7 + 5.0 -3.0 -8.7 K 0 o. o -9.2 + 6.9 143 140 218 146 144 142 87 130 121 142 142 157 88 97 127 120 137 140 161 81 91 126 120 140 140 152 85 87 127 122 142 143 143 94 84 + 0.8 + 1.7 + 1.4 +2.1 -5.9 + 10.6 -3.4 -11.2 -12. 9 -34. 9 -2. 1 -0.7 -33.8 -3.4 156 152 156 186 177 129 178 133 165 135 155 150 153 184 179 128 177 132 164 133 148 135 151 170 190 127 174 129 160 118 147 135 151 169 183 126 173 128 159 118 147 137 150 167 180 124 170 122 157 118 146 137 148 169 177 122 168 122 158 119 -5.8 -8. 7 -3.3 -8.2 -1. 1 -4.7 -5. 1 -7.6 -3.7 -^-10. 5 118 146 135 132 166 160 130 163 161 126 159 150 126 158 149 125 157 150 124 156 150 -0.7 0.0 -1.3 + 1.2 -1.7 -1.6 -1.2 0.0 + 0. 6 + 0. 8 -0.8 -0.6 0.0 218 227 134 115 161 149 159 145 155 139 155 139 153 136 151 136 -1. 3 0.0 — 5. 0 -6. 2 205 219 186 288 3 179 208 123 192 155 139 143 153 3 156 174 118 171 170 164 177 176 166 189 122 176 170 162 177 176 169 195 118 175 168 162 174 173 170 195 121 173 168 162 173 174 169 194 121 174 167 159 173 173 168 192 121 174 165 156 172 172 167 190 121 174 -1.2 -1.9 -0.6 -0.6 -0.6 -1.0 0.0 0.0 -2.9 -3.7 -2.8 -2.3 -1.2 -2.6 January EMPLOYMENT— Continued (Relative to 1923 monthly average as 100) +5.5 -1. 1 PRICE INDEX NUMBERS FARM PRICES (Relative to 1909-1914 average as 100) All 62TOUDS ^T V ~ Grams Fruits and vegetables Meat animals Dairy and poultry Cotton and cottonseed Unclassified WHOLESALE PRICES Department of Labor Indexes (Relative to 1913) All commodities Farm products. Food, etc __ Cloths and clothingFuels Metals and Metal products Building materials. Chemicals _ ___ House-furnishing goods Miscellaneous. _ _ _ Classified by state of manufacture: Producers' goods Consumers' goods Raw materials _ -4. 6 -4.3 -6.8 Commercial Indexes (Relative to 1913) Dun's (1st of following month) Bradstreet's (1st of following month) _ COST OF LIVING National Industrial Conference Board Indexes (Relative to July, 1914) . All items weighted Food (Dept. Labor). Shelter Clothing _ Fuel and light Fuel__ . . . Light Sundries ._ _ _ 2 Since July 1,1922. 3 Since Jan. 1,1923. + 2.5 -0.6 BUTTER AND C.HEESE, WHOLESALE PRICES [In dollars per pound] 1910 MONTH 1911 1912 1914 1913 1915 1916 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 $0.65 $0.52 $0.37 $0.53 .50 .49 .46 .50 .47 .38 $0.40 $0.45 .47 .48 .46 .37 .38 .38 $0.52 .66 .67 .71 BUTTER, 92-SCORE CREAMERY $0.33 January February March April May June July August September October. November December $0.26 .26 .24 .21 .30 .33 .31 -. .. . Average - $0.39 .32 .31 .33 $0.35 .36 .37 .35 $0.33 .29 .28 .25 $0.34 $0.33 .32 .30 .31 .34 .37 .36 $0.40 .44 .42 .44 $0.52 $0.62 .50 .44 .42 .52 .62 .64 .41 .48 .45 .45 .43 .39 .28 .28 .28 .29 .22 .23 .25 .26 .30 .27 .27 .27 .29 .28 .27 .28 .26 .27 .28 .30 .29 .28 .27 .26 .31 .30 .29 .31 .40 .39 .39 .41 .42 .44 .45 .46 .58 .52 .53 .55 .61 .57 .57 .55 .32 .33 .40 .43 .37 .37 .36 .35 .42 .39 .39 .44 .39 .41 .40 .38 .43 .42 .43 .43 .41 .41 .40 .42 .30 .30 .31 .30 .27 .30 .34 .37 .30 .31 .34 .37 .32 .31 .34 .36 .31 .32 .35 .34 .27 .29 .31 .35 .34 .35 .39 .40 .44 .45 .46 .50 .56 .58 .63 .69 .59 .68 .71 .72 .59 .60 .63 .55 .43 .47 .45 .44 .41 .46 .51 .54 .46 .48 .53 .55 .38 .39 .43 .45 .48 .51 .51 .49 .45 .47 .51 .55 .30 .27 .32 .32 .30 .30 .34 .43 .51 .61 .61 .43 .41 .47 .43 .45 .45 $0.22 $0.24 $0.26 CHEESE, No. 1 AMERICAN, FRESH January February March April - - $0.17 .17 .17 .17 $0.15 .15 .14 .14 $0.16 .17 .18 .19 $0.17 .17 .16 .15 $0.17 .16 .18 .16 $0.15 .16 .16 .16 $0.17 .18 .18 .18 $0.24 .14 .14 .15 .15 .11 .11 .12 .12 .15 .14 .15 .16 .13 .14 .14 .15 .14 .15 .15 .16 .17 .15 .15 .13 .18 .15 .15 .17 .15 .15 .15 .16 .14 .14 .15 .16 .16 .18 .17 .17 .16 .16 .16 .16 .16 .15 .15 .15 .14 .15 .16 .17 .16 .14 .16 .15 .16 .15 Mav June July August - - September October.. November December Average '. . ._ $0.24 $0.35 $0.32 $0.24 .30 .32 .31 .30 .29 .30 .21 .25 .22 $0.21 .20 .20 .18 $0.28 .26 .24 .23 .28 .25 .23 .22 .21 .17 .26 .23 .24 .23 .24 .23 .25 .26 .32 .32 .33 .31 .30 .28 .27 .27 .17 .16 .19 .21 .17 .19 .21 .21 .23 .24 .25 .25 .17 .20 .21 .21 .21 .23 .24 .25 .21 .21 .22 .22 .19 .21 .23 .24 .25 .25 .23 .24 .28 .33 .32 .35 .31 .31 .32 .32 .28 .28 .28 .28 .21 .22 .21 .21 .21 .26 .26 .25 .22 .20 .21 .23 .25 .26 .27 .27 .23 .24 .25 .26 .19 .24 .27 .32 .29 .21 2.20 3.25 .21 .25 .23 .25 .26 .26 .24 .24 .24 .25 .23 .21 12 Compiled by the U. S. Department of Agriculture, Bureau of Agricultural Economics, and representing averages of daily wholesale prices in New York City Nine months' average. 3 Eleven months' average. AUTOMOBILE RIM PRODUCTION 1 ADDITIONAL PRELIMINARY RETURNS, CENSUS OF MANUFACTURES, 1925 [In thousands of rims] VALUE OF PRODUCTS PERSONS EMPLOYED 1922 MONTH 1925 1923 INDUSTRY Thousands of dollars Alums and other a l u m i n u m com$11, 564, 508 pounds Canning and preserving, fish, oysters, and other sea foods . 61, 060, 530 Concrete products, selected industries75, 213, 986 1, 714, 367, 787 Cotton goods Cotton small wares... 74, 675, 096 206, 772, 904 Fertilizers 25, 763, 978 Glue and gelatin Ice cream 286, 175, 686 Lumber and allied 3, 688, 552, 647 products 1,025,203,085 Men's clothing Millinery and lace 309, 856, 341 goods Manufactures of nonferrous metals and alloys 593, 555, 540 Plumber's supplies... 167, 878, 414 808, 979, 399 Silk manufactures Steel-works and rollmill products 2 946 068 231 Slaughtering a n d meat p a c k i n g , wholesale 3, 050, 286, 291 Stone, clay, and glass industries 1, 640, 651, 985 Woolen goods and worsted goods 957, 790, 338 Wire and wire prod694, 480, 524 ucts Per cent minimum month is of maximum month 1925 1923 $11, 066, 611 4.5 50, 588, 369 20.7 15.2 53.6 49.8 1, 901, 125, 703 73, 223, 566 183, 088, 751 -9.8 2.0 12.9 -5.6 -1.4 5.8 66.6 93.0 93.4 41.7 78.1 62.0 93.3 82.9 44.3 January February March April May June July August September October November December 865 .. . .. . ._ Total Monthly average . . 1,107 1 331 1,115 1,794 1 855 1,599 1 733 1,174 1 009 1,535 1,181 16, 298 . 1,358 1924 1,609 1,805 2 258 2,621 2,079 2,270 2,304 2,288 1925 1926 1927 1,808 1,975 1,980 2,168 2,471 1,498 1,753 2,124 2,179 2,123 2,123 2,333 2,755 2,538 2,370 2,284 1 856 1,586 1 961 1,800 1,760 1,875 1,382 1,316 1,773 1,781 1,517 1,423 1,213 2,551 2,198 1,608 1,829 1,210 1,096 23, 141 1,929 21, 863 1,822 25, 998 2,167 24, 208 2,016 2 148 2,009 2,263 1,781 2,064 2,379 2,366 60.3 i Compiled by the Tire and Rim Association of America, from reports of 46 firms representing practically the entirefindustry. The figures include motor cycle, balloon, high pressure, truck, and millimeter rims approved and branded by the association after inspection and are given in detail by kinds and sizes in the association reports. 91.2 93.8 STOCKS OF GRAIN ON FARMS * 76.3 81.3 259, 966, 987 10.1 -0.4 3, 633, 033, 680 1, 105, 116, 203 1.5 -7.2 -1.1 -10.1 297, 505, 409 4.2 -1.2 572, 251, 448 132, 664, 774 761, 322, 119 3.7 26.5 6.3 -2.9 22.3 5.8 92.4 91.7 89.0 87.4 92.7 92.4 3, 154, 324, 671 -6.6 -4.5 91.9 92.2 2, 585, 804, 140 85.8 89.4 1925 1926 1927 86.0 90.0 i Estimated^by the U. S. Department of Agriculture, on the basis of reports by local agents. 18.0 -9.3 1, 563, 120, 627 5.0 0.4 1,062,558,438 -9.9 -15.1 691,909,079 0.4 i A[minus sign (—) denotes decrease. Per cent incent in- crease crease i over 19231 Per 1923 [In thousands of bushels] MARCH 1— Corn 757, 890 1, 329, 581 1, 113, 691 Wheat 112, 095 100, 137 130, 444 Oats 538, 832 571, 248 425, 957 Rye 8,263 6,544 5,647 BOXBOARD MANUFACTURING BOXBOARD ACTIVITY Operation Production New orders Per of cent Capacity Output Thous. of inch hours 1923 November December _. Unfilled orders, Shipments end of month Per of capacity Stocks, end of month j cent -«r Stocks, end of month Consumption YEAR AND MONTH Capac- Operated ity WASTE PAPEE ConCapacity sumed Per of capacity cent Short tons Short tons In and unshipped purtransit At plants chases Short tons 10, 157 10, 157 8,310 7,981 81.8 78.6 241, 675 241, 675 168, 661 156, 504 69.8 64.6 173, 870 158, 278 89,758 95, 326 172, 270 152, 668 41, 770 45,546 233,900 233,900 156, 520 152, 603 66.9 65.2 156, 753 176, 702 34, 261 36, 172 10, 563 10, 157 10,563 10,563 8,959 8,698 9,632 8,983 84.8 85.6 91.2 85.0 251,342 241, 675 251, 342 251, 342 188, 403 186, 348 206,866 189, 593 75.0 77.1 82.3 75.4 204,229 173,823 201, 833 165, 580 113, 203 104, 813 98, 495 74,854 186, 166 182, 072 208,432 189,018 47, 792 51,998 50,416 51,018 243, 256 233,900 243, 256 243, 256 175,985 175, 619 192, 531 175,322 72.3 75.1 79.1 72.0 151,744 132,389 148,818 149, 101 40,941 41,553 39,977 39, 674 10, 563 10, 157 10, 563 10, 563 8,691 7,112 7,577 8,409 91.7 70.0 71.7 79.6 251, 342 241, 675 251, 342 251,342 180, 045 157, 993 171, 584 190,978 71.6 65.4 68.3 76.0 172, 534 174, 422 193, 282 210,418 70, 170 87, 030 106, 614 124,801 177, 207 157, 553 173, 686 192, 401 53,781 54,091 52,058 50, 551 243,256 233,900 243, 256 243, 256 171, 526 154, 462 164, 759 188, 268 70.5 66.0 67.7 77.4 147, 263 164,819 170, 959 167, 193 38,646 47,901 52,049 52, 146 10, 157 10,969 9,751 10,563 8,474 8,872 7,977 7,923 83.4 80.9 81.8 75.0 241, 675 261, 009 232,008 251, 342 196,047 204, 355 177, 676 177,636 81.1 78.3 76.6 70.7 175, 670 188,770 181, 494 187, 395 104, 967 89, 363 96,597 109,536 200,219 206, 229 176, 226 175, 723 48,056 46,235 47, 673 49,583 233,900 252, 612 224,544 243, 256 188,810 195,930 169, 056 169, 985 80.7 77.6 75.3 69.9 177, 331 181,295 169, 422 184, 824 57, 335 42,950 45, 171 46,249 2, 881, 648 2,122,253 73.6 1934 January. February March . April - May June July August - September October November December Total . . 125, 133 101, 308 1925 January February March April __ May June July August -- -- September October November December Total . May June July August .- _ September October . November December. Total January February 1927 78.2 2,229,450 2,224,932 10,563 9,751 10, 563 10,563 8,836 7,954 7,992 8,154 83.7 81.6 75.7 77.2 251, 342 232, 536 252, 616 252, 504 207, 612 184, 477 186, 176 193, 874 82.6 79.3 73.7 76.8 207, 840 169, 647 177, 203 178, 038 114, 743 102, 128 91, 816 81, 084 203, 454 183, 587 187, 668 187, 940 53, 865 55, 062 52,799 58, 242 243, 256 224, 628 243, 438 243, 438 199, 988 175, 921 176, 758 177, 243 82.2 78.3 72.6 72.8 177, 211 177, 852 181, 686 177, 855 53, 920 43, 745 36, 147 46, 897 10, 157 10, 563 10, 563 10, 517 7,579 8,431 8,722 8,496 74.6 79.8 82.6 80.8 242,725 252, 434 252, 494 252, 018 171, 846 197, 961 204, 692 203, 114 70.8 181, 910 78.4 • 202,020 223, 734 81.1 219,017 80.6 85, 069 92, 401 113,504 120, 818 176, 207 192, 629 198, 667 212, 386 54, 583 60, 604 65, 745 56, 642 234, 075 243,438 242, 918 242, 918 165, 426 186, 226 190, 993 194, 759 70.7 76.5 78.6 80.2 180, 708 172, 252 165, 532 155, 656 38, 815 39, 118 46, 311 44, 359 10,113 10, 922 9,708 10,517 8,611 8,910 8,377 8,164 85.2 81.6 86.3 77.6 242,325 261,711 232, 632 252, 018 207,351 217, 559 201, 122 197, 668 85.6 1 200,826 216,687 83.1 86.5 202,219 78.4 196,501 111,165 104, 497 105,043 107, 756 211,181 223, 193 201, 670 193, 841 52, 872 47, 144 45, 767 50, 333 233, 575 252, 261 224, 232 242, 918 195, 683 197, 839 188, 534 178, 284 83.8 78.4 84.1 73.4 161,021 174, 248 171, 815 179, 704 49, 587 48, 911 36, 928 37,357 124, 500 100, 225 80.5 977, 355 2,373,452 79.7 12, 375, 642 2, 871, 095 2, 227, 654 77.6 10. 081 9,597 10, 797 10, 397 8,135 7,975 9,162 8,629 80.7 83.1 84.9 83.0 241, 377 230, 568 259, 389 249, 782 197, 360 196, 965 225, 688 207, 765 81.8 85.4 87.0 83.2 211, 263 183, 030 219, 994 194, 824 120, 091 106, 269 104, 128 90, 671 196, 544 194, 704 222, 018 208, 281 49, 634 50, 717 54, 265 53, 661 233,311 223, 512 251, 451 242, 138 187, 915 187, 871 214, 046 209,245 80.5 84.1 85.1 86.4 172, 203 166, 536 154, 923 149, 742 44,477 55, 035 42, 971 50, 480 9,997 10, 397 10, 397 10, 397 8,400 9,140 8,604 9,140 84.0 87.9 82.8 87.9 240, 175 249, 782 249, 782 249, 782 207, 498 221, 909 206, 235 226, 337 86.4 88.8 82.6 90.6 200, 832 242, 089 219, 271 212, 845 83,452 109, 559 122, 202 110, 362 207, 934 215, 931 206, 591 224, 702 54, 599 60, 080 59, 193 60, 420 232, 825 242, 138 242, 256 242, 538 193,892 213,912 201, 582 222, 403 83.3 88.3 83.2 91.7 140, 718 139, 967 145, 334 195, 597 45, 327 58, 820 60, 462 57,285 9,997 10, 397 10, 027 10, 399 9,312 9,659 8,527 6,943 93.1 92.9 85.0 66.8 240, 703 250, 640 241, 195 250, 250 230,050 226, 180 217, 850 165, 074 95.6 90.2 90.3 66.0 219, 850 224, 829 187, 295 190,163 102, 027 93,263 69, 118 86, 562 227, 824 233, 593 211, 005 172, 815 62, 669 55, 650 62, 058 55, 159 233, 325 242, 658 233, 455 241, 418 212, 608 216, 871 201, 633 159, 969 91.1 89.4 86.4 66.3 120, 087 142, 830 151, 187 166, 153 70, 311 59, 076 46, 175 34, 662 2, 861, 025 2, 421, 947 84.7 160, 520 38, 062 1926 January February March April 81.0 2,977,436 2, 327, 524 122, 884 103, 626 9,851 9 457 6,815 84.3 2, 953, 425 2, 528, 911 69.2 244,007 234 552 170, 841 2,372,423 85.6 2, 506, 285 70.0 j 190, 967 2, 521, 942 104, 667 173, 531 52, 541 232, 942 224 160 161, 583 69.4 1 Compiled by the U. S. Department of Commerce, Bureau of the Census, from reports of 92 firms operating 119 plants (and for earlier years, 3 other mills now out of business), including weekly reports from the Paperboard Industries Association prorated to a monthly basis. These data include paperboard of more than 0.009-inch thickness, such as strawbqard, chip board, news board, etc., if used for making boxes, and represent a very large proportion of the industry. Capacity data are determined by the number of working days in each month, Sundays and holidays excluded, on a uniform basis throughout the period, irrespective of the policy of Saturday closing. This is a revision of previous figures through the inclusion of additional concerns throughout the period, 25 WALNUT LUMBER [In thousands of feet, board measure] NEW ORDERS 1923 January February. March April Mav June July August September October-- . November December . ._ i ! 1,573 2,441 1,867 1,962 2 521 2, 301 3, 673 2 882 4,245 2,922 2,692 2.880 3,101 3,353 3,547 2,920 2,737 2,543 12, 665 2, 111 40, 313 3,526 40, 225 3,352 37, 495 3,125 . i ! Total. Monthly average 2 _ 1920 4. 397 3,446 3, 190 2,247 2,593 2,414 3,421 3, 282 3,102 3,599 5, 065 3,469 __ _. 1925 4,386 3,535 3,769 2,663 1,794 2,440 2,174 3,103 3,497 3,574 4,762 4,616 i i _ 1924 UNFILLED ORDERS, END OF MONTH 2 1927 1923 3, 621 ! 1924 1925 1 3,893 4,048 4 230 3,965 4,575 4,531 5,749 6.187 5,803 5, 630 5,048 4,925 4, 249 4, 770 5, 389 5, 317 6,847 7,913 8,639 8,472 9, 196 6, 974 6,140 5,723 6,143 6, 698 6,424 7,277 8,384 7, 912 7,820 7, 367 7,830 7,577 7,181 6,930 7,418 8, 027 8,498 7,521 7,039 6,789 2 4, 207 5.652 7,332 7, 500 1 Compiled by the American Walnut Manufacturers' Association from reports of identical firms representing from 50 to 60 per cent of the industry. Six months, July to December, inclusive. . 2 39820—27—4 1926 1927 7, 591 26 ACETATE OF LIME AND METHANOL 1 CRUDE METHANOL PLANTS Acetate of lime Crude methanol REFINERIES Capacity Wood MONTH end Production Shipments Stocks, of month Stocks, end of month Production Pounds Consumption Gallons Total in industry Stocks, end of month Shut down Refined methanol Crude methanoi Stocks, end of month Stocks, at refineries and in transit Production Gallons Cords per day Cords 1934 January February March April 13, 420, 193 13, 172, 610 14, 107, 411 12, 650, 393 9, 022, 250 8, 548, 032 9, 027, 539 705, 747 690, 403 741, 505 698, 126 2, 632, 633 2, 738, 308 2, 749, 818 2, 656, 211 78,892 73, 541 78, 661 74, 596 814,896 12,460,054 23, 401, 511 27, 622, 967 32, 370, 329 30, 534, 533 815, 824 849, 991 4,633 4,633 4,633 4,633 630 408 382 468 May June July August 11, 538, 625 9, 396, 138 7, 713, 750 8, 112, 277 8, 561, 412 9, 261, 158 7, 592, 816 11, 651, 737 33, 985, 853 32, 291, 427 30, 242, 396 25, 706, 778 623, 107 492, 902 408, 132 444, 612 2, 615, 144 2, 368, 760 1, 901, 663 1, 822, 678 67, 841 53, 594 46, 536 47, 198 866, 518 821, 242 749, 179 737, 849 4,609 4,609 4,132 4,132 698 1,199 1,424 1,403 8, 473, 979 9, 939, 708 - 10, 435, 537 10, 821, 755 11, 067, 121 12, 733, 205 12, 292, 100 10, 313, 118 22, 985, 606 19, 974, 471 16, 119, 332 16, 955, 721 469, 432 548, 819 568, 134 560, 511 1, 683, 785 1, 577, 431 1, 391, 037 1, 321, 279 50, 690 58, 422 55, 753 58, 846 724, 092 713, 516 624, 956 601, 141 4,342 4,342 4,342 4,342 1,220 903 923 397 129, 782, 376 122, 530, 542 January February March April 13,080,756 11,906,017 12,827,394 13,033,131 10, 125, 980 11, 415, 676 9, 442, 781 71, 130 62, 880 68, 848 69, 387 636, 379 677, 725 685, 162 4.270 4,252 4,250 4,332 339 363 381 591 430, 377 717, 853 1, 785, 550 May _ _ June July August . _ 12, 801, 579 13, 335, 249 12,421,620 12, 181, 573 11, 721, 534 4,332 4,332 4,164 4,162 849 985 933 917 390, 831 336, 740 395, 832 435, 423 715, 100 669, 861 554, 261 573, 492 1,869,327 11, 802, 934 694, 928 675, 175 584 368 644, 589 September October _ November December - 12, 117, 188 12, 587, 884 13, 707, 100 620, 869 603, 572 575, 805 723, 309 4,162 4,164 4,140 4,140 965 1,091 841 841 454, 391 681, 985 597, 836 596, 693 526, 176 1, 362, 188 1, 064, 365 856, 751 792, 357 September October November December Total year 1935 11,262,090 - - Total year 1936 January February March April 13,324,137 14,369,382 10,248,347 15,361,813 14,048,351 12, 926, 238 17, 710, 972 151,534,112 152, 225, 614 14,425,088 12,905,023 11,338,967 - _• 6, 951, 430 653, 118 625, 086 672, 441 28, 337, 368 24, 092, 477 23, 736, 851 22, 987, 524 663. 418 595, 995 634, 610 612, 164 1,800,072 1, 786, 929 1, 930, 288 67, 645 61, 670 64, 456 64, 123 20, 881, 954 18, 978, 944 589,055 625,493 1,608,108 1,424,230 63,873 15, 711, 225 1, 418, 051 1, 452, 934 1,797,930 678,302 1, 767, 380 1,725,049 688, 662 732, 899 1, 349, 229 1, 301, 246 633,006 64. 828 72,088 75, 961 10, 525, 277 9, 953, 939 11, 902, 753 19, 260, 643 21, 715, 325 25, 991, 414 28, 522, 689 752, 292 683, 707 738, 958 764, 670 1, 400, 994 1, 176, 337 1, 280, 625 1, 474, 624 77, 239 71, 568 78, 264 79, 751 534,311 524,411 May June July August 13, 481, 618 11, 240, 564 13,658,358 28, 517, 772 671,674 1, 414, 577 1,165,016 508,408 589, 828 888, 923 622, 456 72, 867 62, 575 September October November December 11, 770, 154 14, 002, 232 610, 393 486, 199 442, 998 65, 807 73, 895 73, 701 12, 499, 195 14, 741, 461 14, 524, 284 26,093,206 22,373,174 13, 468, 305 11, 285, 265 16, 012, 910 15, 509, 609 14, 187, 301 23, 240, 592 17, 745, 783 16, 327, 559 16, 420, 621 157, 077, 277 156,139,319 14, 180, 664 12, 626, 911 10,067.060 12, 179, 916 14,100,075 Total year.. 1937 January February 9, 472, 748 19, 951, 364 564, 596 553,050 712,309 463,049 720, 798 733, 678 278, 219 8, 095, 953 19, 910, 428 22,298,386 519, 662 503,013 485, 515 60,837 66,007 502,255 500, 675 491,307 485,022 473, 964 502, 482 70,653 3,930 3,870 3,870 3,726 621 561 349 349 642, 397 637,300 607, 586 577, 885 636, 699 557, 711 623, 538 656, 565 685, 995 750, 480 850, 999 3,738 3,698 3,698 3,602 349 559 642 580 523, 766 698, 919 737, 704 608, 346 567, 444 512, 606 585, 301 385, 765 876, 428 600, 780 279, 202 351, 409 3,577 3,577 3,577 3,607 537 391 409 479 700, 211 618, 284 623, 544 531, 764 344, 629 279, 781 235, 516 278, 734 164,363 151, 326 144, 136 207, 682 397, 999 340, 847 630,583 436, 656 426, 736 341, 444 613, 939 532,309 7, 402, 715 853, 164 755, 473 515,917 495, 492 557, 812 1, 461, 989 1, 543, 375 1, 465, 549 4,320,108 806,889 7, 771, 243 14, 313, 556 14, 226, 364 10,964,382 i 744, 570 21,232,506 23,071,896 25,149,396 28,822,653 19,406,397 786, 174 492, 811 80, 233 68, 972 453,040 3,553 3,555 155 155 480, 448 305, 479 i Compiled by the U. S. Department of Commerce, Bureau of the Census, revising previous data since June, 1924, to which time the reports of the National Wood Chemical Association were included in the compilation. From July, 1924, through February, 1925, reports were received for from 85 to 90 per cent of the crude plants, from March through December, 1925, for about 95 per cent, from January through November, 1926, for about 97 per cent, and thereafter by the entire hardwood distillation industry; refinery data are complete since their inauguration in April, 1925. Stocks at crude plants prior lo December, 1926, probably include some stock held at refineries, but thereafter no duplication exists. Monthly data for 1920 appeared in the September, 1923, issue (No. 25), p. 46, and for 1921 to:)1923 in the December, 1923, issue (No. 28), p. 51. Press releases also give Canadian figures, beginning with 1925. INSTALLMENT SALES IN NEW ENGLAND DEPAKTMENT STOKES MONTH 1925 1936 1927 MONTH 1925 ] SULPHUR PRODUCTION l [In long tons] 1926 1923 QUARTER ENDING— January February March April May June July 1 5.2 6.1 4.1 3.5 5.0 32 4.4 9.4 8.8 5.7 5.0 5.1 36 5.2 10 5 August September October November December Monthly average 89 61 56 60 4.6 86 58 55 78 3.7 52 62 Compiled by the Federal Reserve Bank of Boston from reports of selected department stores in New England. Mar. 31... June 30 Sept. 30 . Dec 31 ._ Total Quarterly average 1924 1925 1926 68, 085 369, 500 318 232 252, 236 215, 835 216, 602 200 503 243, 459 386, 063 367, 619 386, 839 507, 042 486, 237 511, 287 755, 817 251 939 885, 176 221, 294 1, 405, 319 351, 330 1,891,405 (2) 3 3 408,178 472, 851 1 Compiled from reports to the Texas State Comptroller from three companies, representing practically the entire industry. 2 Data not available. s Three quarters only. 27 TREND OF BUSINESS MOVEMENTS The following table contains a summary of the monthly figures, designed to show the trend in important industrial and commercial movements. These data represent continuations of the figures presented in the latest semiannual number (February, 1927), in which monthly figures for 1926 and 1927 may be found, together with explanations as to the sources and exact extent of the figures quoted. The figures given below should always be read in connection with those explanations. Data on stocks, unfilled orders, etc., are given as of the end of the month referred to. For explanations of relative numbers, including base periods, see introduction on inside front cover. 1926 1927 PER CENT INCREASE (+) OR DECREASE (— ) 1926 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey'' CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 Per ct. increase ( } or tdecrease (-) cumulative 1927 from 1926 Feb., 1927, from Jan., 1927 Feb., 1927, from Feb., 1926 1926 1927 31, 379 5,098 26, 281 +49.4 +4.9 +69.2 -6.0 +25.1 -12.0 61, 262 9,865 51, 397 49, 235 12, 458 36, 777 -19.6 +26.3 -28.4 45, 102 54, 130 35, 321 41, 761 +23.7 +23.8 -3.5 -1.0 80, 423 95, 891 61, 614 74, 732 -23.4 -22.1 46,389 41, 446 40, 492 72 67 65 80 84 68 65 65 75 84 67 63 68 77 85 63 62 70 76 85 81 80 77 78 72 75 72 72 70 75 1.12 1.12 1.08 1.08 1.09 1.28 1. 26 +0.9 -13.5 .45 1.40 .45 1.40 .44 1.40 .44 1.38 .44 1.38 .54 1.55 .53 1.55 0.0 0.0 -17.0 -11.0 1.00 3.29 1.00 3.29 1.00 3.29 1.00 3.29 1.00 3.29 1.05 3.60 1.05 3.60 0.0 0.0 -4.8 -8.6 Receipts into sight .. thous. of bales 3,483 3,593 2,660 1,199 1,556 Imports, unmanufactured bales.. 30, 449 41, 441 39, 851 39, 702 56, 939 Exports, unmanufactured (including linters) . _ ..bales 1, 369, 820 1, 486, 224 1, 531, 297 1, 115, 792 1,010,507 Consumption by textile mills bales.. 568, 532 583, 950 605, 217 604, 584 590, 447 Stocks, domestic, end of month: Total, mills and w'houses.. thous. of bales.. 8,015 6,686 8,245 7,923 7,377 1,216 1, 498 1,766 1,853 1,933 Warehouses... thous. of bales.. 5,470 6,518 6,479 5,444 6,070 Stocks, world visible, end of month: Total. thous. of bales.. 6,148 7,457 8,519 8,796 8,533 American thous. of bales.. 5,056 7,229 6, 368 7,227 6, 860 Machinery activity of spindles: Active spindles thousands. 32, 593 32, 587 32, 496 32, 634 32, 872 8, 370 8,563 8,480 8, 558 8,266 Activity per spindle hours.. 224 227 229 229 222 98.9 101.2 100.3 102.3 106.8 Prices: To producer. dolls, perlb.. .117 .110 .100 .106 .115 In New York, middling dolls, perlb.. .132 .128 .128 .134 .140 1, 155 62, 061 752 38,354 -22.9 -30.3 +59.4 +3.5 1,907 100, 415 2,755 96, 641 +44.5 -3.8 749, 967 582, 315 556,185 565,118 -9.4 -2.3 +81.7 +4.5 1, 306, 152 1, 147, 433 2, 126, 299 1, 195, 031 +62.8 +4.1 6,996 1,815 5,181 6,573 1,833 4, 740 -6.9 +4.3 -10.3 +12.2 +5.5 +14.9 6, 774 5,238 6,643 4,930 -3.0 -5.1 +28.5 +39.1 32, 810 8,356 221 98.6 33,009 8,121 1 215 103.2 +0.7 -3.4 -3.1 +4.4 -0.4 +1.8 +3.3 +3.5 .174 .208 i . 176 .206 +8.5 +4.5 -34.7 -32.0 October November December January February January 13, 336 6,921 6,415 14, 834 8,451 6,383 17, 498 9,889 7,609 19, 742 6,081 13, 661 29, 493 6,377 23, 116 29, 883 4,767 25, 116 19, 264 24, 499 25, 063 32, 127 25, 004 30, 116 27, 542 33, 399 34, 072 41, 333 49, 072 47, 808 47, 839 71 68 65 89 90 73 67 67 84 88 86 79 February TEXTILES Wool Receipts at Boston: Total thous. of lbs__ Domestic thous. of Ibs Foreign.. thous. of lbs_. Importsj, In condition imported thous. of lbs_. Grease equivalent thous. of Ibs. . Consumption by textile mills, grease equivalent. thous. of lbs_. Machinery activity, hourly: LoomsWide per ct. of hours active.. Narrow per ct. of hours active.. Carpet and rug.per ct. of hours active.. Sets of cards ..per ct. of hours active.. Combs per ct. of hours active.. Spinning spindlesWoolen per ct. of hours active-Worsted per ct. of hours active.. Prices: Raw, territory, fine, scoured.. dolls, per lb._ Raw, Ohio and Pa. fleeces, l /i blood, combing, grease... dolls, perlb.. Worsted yarn dolls, perlb.. Women's dress goods, French serge dolls, per yd.. Men's suitings dolls, per yd.. 81 938 . Cotton ::::::::::: Cotton Goods Cotton finishing: Billings, finished goods (as produced) ._ thous. of yds_. 88, 295 Orders received, gray yardage thous. of yds__ 79, 350 Shipments, finished goods cases. _ 51, 010 Stocks, finished goods cases. _ 36, 161 Operating activity per ct. of capacity. _ 70 Average work ahead, end of month.. days. . 6.2 Cotton textiles: Total (9 classes)— Production thous. of yds. . 230, 607 Stocks, end of month thous. of yds_. 181, 834 Unfilled orders, end mo_. thous. of yds.. 290, 917 SheetingsProduction thous. of yds. _ 66, 205 Stocks, end of month thous. of yds.. 34, 365 Unfilled orders, end mo._thous. of yds.. 52, 968 Print clothProduction thous . of yds. . 71, 818 Stocks, end of month thous. of yds_- 29, 505 Unfilled orders, end mo_ -thous. of yds. _ 85, 032 1 Revised, 79, 480 85, 179 i 75, 510 83,554 78, 170 82, 370 +10.7 +1.4 160, 540 159, 064 -0.9 76, 483 45, 941 37, 113 63 6.0 76, 354 45, 564 38, 012 66 5.0 » 88, 603 i 48, 936 i 36, 581 69 6.8 91, 402 48,968 34, 971 82 7.0 87, 188 46, 679 41, 111 62 7.4 85, 055 46, 922 41,006 71 7.1 +3.2 +0.1 -4.4 +18.8 +2.9 +7.5 +4.4 -14.7 +15.5 -1.4 172, 243 93, 601 180, 005 97,904 +4.5 +4.6 197, 231 193, 099 277, 857 199, 578 210, 122 274, 715 242, 208 184, 603 386, 795 209, 698 161, 483 398, 675 229, 453 220, 486 279, 025 229, 153 208, 154 239, 957 -13.4 -12.5 +3.1 -8.5 -22.4 +66.1 458, 606 428, 640 518, 982 451, 906 346, 086 785, 470 -1.5 -19.3 +51.3 53, 008 45, 212 56, 751 51, 853 52, 399 51, 438 62, 970 41, 980 91, 786 52, 622 35, 745 , 86, 978 57, 015 31, 105 64, 378 46, 612 22, 360 62, 689 -16.4 -14.9 -5.2 +12.9 +59.9 +38.7 103, 627 53, 465 127, 067 115, 592 77, 725 178, 764 +11.5 +45.4 +40.7 58, 584 28, 424 88, 957 59, 472 36, 448 82, 088 78, 467 | 27, 555 108, 457 62, 893 i 20, 228 99, 681 1 80, 835 29, 996 86, 696 66, 952 33, 569 62, 111 -19.8 -26.6 -8.1 -6.1 -39.7 +60.5 147, 787 63, 565 148, 807 141, 360 47,783 208, 138 -4.3 -24.8 +39.9 28 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" 1937 Decem- January ber PER CENT INCREASE (+) OR DECREASE (— ) 1926 February February October November 9,736 2,864 25, 046 8,344 3,539 21, 778 8,008 4,185 16, 489 8,820 4,957 14, 818 6,792 4,638 10, 954 4,796 921 7,080 4,404 914 10, 461 10,361 12, 907 9,224 9,229 12, 517 10, 618 9,842 13, 368 10, 131 12, 677 12, 882 18, 081 11, 160 10, 457 17, 801 17, 136 17, 072 14, 811 2,812 1,645 2,901 2,428 1,564 3,962 3,068 1,122 3,131 3,974 580 5,987 3,722 473 7,042 9,825 4,734 15, 198 7,200 2,786 14, 756 7,936 2,549 14, 741 10,912 2,115 22, 905 1,651 238 1,624 1,624 336 2,123 1,697 502 1,677 5,284 8,712 11,240 5,056 8,426 10, 544 52, 915 86, 864 87, 684 401, 636 37, 556 January Feb., 1927, from Jan., 1927 Feb., 1927, from Feb., 1926 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 Per ct. increase (+) or decrease (-) cumulative 1927 from 1926 1926 1937 -23.0 +54.2 -6.4 +407. 4 -26. 1 +4.7 9,200 1,835 17, 541 15, 612 +69.7 9,595 +422. 9 25, 772 +46.9 14, 499 16, 971 11, 517 -12.0 -23.0 -18.8 -38.4 -1.5 +54.6 31,635 34,043 26, 328 23,837 23,339 35, 882 4,298 7,091 3,309 3,324 7,153 2,140 -6.3 +12.0 -18.4 -93.4 , +17.6 +229. 1 7,622 14, 244 5,449 7,696 +1.0 1,053 -92.7 13, 029 +139. 1 10,047 3,067 24, 519 7,199 8,357 16, 429 7,380 7,536 18, 532 -7.9 +36.1 +45.0 -59.3 +7.0 +32.3 14, 579 15, 893" 34,961 20, 959 5,182 47, 424 +43.8 -67.4 +35.6 2,229 653 2,691 2,133 537 2,440 1,587 1,219 1,384 1,326 1,037 984 -4.3 +60.9 -17.8 -48.2 -9.3 +148. 0 2,913 2,256 2,368 4,362 1,190 5,131 +49.7 -47.3 +116. 7 5,208 9,075 10, 072 5,661 8,968 12, 079 6,063 8,155 12, 232 6,851 1,586 19, 052 7,367 1,798 15, 177 +7.1 -17.7 -9.1 +353. 6 +1.3 -19.4 14, 281 3,384 34,229 11, 724 17,123 24,311 -17.9 +406. 0 -29.0 51, 758 90, 295 68, 368 406, 896 43, 284 52, 494 90, 474 84, 948 470, 469 40, 361 56, 498 84,913 109, 991 441, 484 39, 834 54, 266 78, 183 137, 028 423, 976 35, 859 49, 736 123, 139 65, 886 427, 234 41, 017 47, 289 116, 816 56, 346 397,463 37, 626 -4.0 +14.8 -7.9 -33.1 +24.6 +143. 2 -4.0 +6.7 -10.0 -4.7 97, 025 239, 955 122, 232 824, 697 78, 643 13, 973 12, 001 12,422 12, 335 11, 593 10, 634 14, 358 13, 198 10, 875 13, 251 10, 892 .329 .482 .068 .090 154 .321 .470 .069 .085 148 .311 .467 .067 .080 143 .301 .460 .068 .080 143 .306 .464 .069 .081 145 .403 .550 .087 .101 176 .399 .545 .086 .101 175 +1.7 -23.3 +0.9 -14.9 +1.5 -19.8 +1.3 -19.8 +1.4 -17.1 7,936 47, 768 7,934 47, 634 7,961 39, 771 8,208 48, 307 5,437 42,860 6,821 46, 148 6,919 42, 476 -21.4 -33.8 -11.3 +0.9 35,094 22, 762 47, 130 22, 821 52, 478 23, 270 52, 627 24, 872 43, 758 22, 120 47, 326 32, 054 43, 418 31, 118 -16.9 +0.8 -11.1 -28.9 82.6 69.3 87.5 5.78 89.2 63.6 89.7 5.49 87.9 53.4 90.4 5.59 86.4 67.2 89.4 5.34 86.2 58.1 89.1 5.64 93.9 59.1 101.7 6.71 92.6 59.2 103. 4 6.66 -0.2 -6.9 -13.5 -1.9 -0.3 -13.8 +5.6 -15.3 852 +21.7 +32.5 TEXTILES— Continued Cotton Goods— Continued Cotton textiles— Continued. Pajama checksProduction thous. of yds Stocks, end of month.... thous. of yds_. Unfilled orders, end mo.. thous. of yds_. Drills and twills (40" and narrower)— Production . thous. of yds.. Stocks, end of month thous. of yds_. Unfilled orders, end mo _. thous. of yds.. Pocketing twills and jeansProduction thous. of yds. . Stocks, end of month thous. of yds.. Unfilled orders, end mo_-thous. of yds.. Osnaburgs— Production thous. of yds Stocks, end of month,.. .thous. of yds_. Unfilled orders, end mo. . thous. of yds. . Heavy warp sateensProduction thous. of yds_. Stocks, end of month thous. of yds__ Unfilled orders, end mo. -thous. of yds.. Drills, twills, sheetings and sateens (wider than 40")— Production thous. of yds.Stocks, end of month thous. of yds.. Unfilled orders, end mo. -thous. of yds.. Colored goodsProduction thous. of yds_ . Stocks, end of month thous. of yds.. Unfilled orders, end mo. -thous. of yds__ Fine cotton goods, production pieces.. Cotton cloth exports thous. of sq. yds.. Fabric consumption by tire manufactures . thous. of lbs__ Elastic webbing shipments thous. of yds. Prices: Cotton yarn— 22/1 cones, Boston dolls, perlb.. 40/ls, New Bedford dolls, per lb.. Print cloth, 64x60 dolls, per yd. . Sheeting, brown dolls, per yd.. Cotton goods (Fairchild)__ -index number-Silk Imports, raw thous. of lbs__ Deliveries (consumption) _ .bales _ Stocks, end of month: At warehouses bales.. At manufacturers' plants bales.. Silk machinery activity: Broad looms .per cent of normal. _ Narrow looms per cent of normal.. Spinning spindles per cent of normal.. Price Japanese, New York .dolls, per Ib . Rayon « Imports _ thous. of Ibs Stocks in bonded warehouses, end of month ,. thous. of Ibs 1, 008 988 1,023 700 597 643 1,879 1,870 2,016 352 1,491 1,483 i 1. 110 i 1, 531 676 1,019 1,343 279 1,298 1, 355 237 1,484 1,493 241 1,595 1,764 1223 i 1, 686 1,674 1240 271, 984 226, 728 308, 731 241, 685 206, 383 324, 672 197, 674 154,175 354, 078 262, 252 227, 840 345, 490 240, 380 222, 392 343, 570 240, 223 208, 998 340, 384 3,694 3,940 6,843 4,289 5,667 3,733 3,888 6,856 4, 012 5, 783 3, 487 3,560 6,710 3, 261 5, 100 3,672 3,339 6,156 3,699 7,242 3,592 3,383 6,410 3,322 6,329 1,015 1,166 1,042 949 1.417 976 999 1,011 1,117 1.460 931 787 1,063 918 1.562 1,060 1,081 993 1,373 3.002 1,094 1,057 1,446 1,048 2.996 Clothing Men's and boys' garments cut: Suits ., thous. of garments .Separate trousers thous. of garments Overcoats _ thous. of garments. . Work clothing: Cut dozen garments Net shipments - .dozen garments . Stocks, end of month dozen garments. _ Hosiery Production thous. of dozen pairs Net shipments -thous. of dozen pairs , Stocks, end of month thous. of dozen pairs. New orders thous. of dozen pairs _ Unfilled orders, end mo. -thous. of dozen pairs.. - ... Knit Underwear Production , Net shipments. Stocks end of month New orders Unfilled orders, end of mo thous. of dozens.. thous. of dozens. . thous of dozens thous. of dozens. . thous. of dozens.. i Revised. 912 819 1,157 1,357 2.091 1 See table on p. 25 of the March, 1927, issue for earlier data. -24.6 -31. 4 +36.3 110, 764 +14.2 163,096 -32.0 247, 019 +102. 1 +4.9 865, 460 -3.8 75, 693 13, 740 88, 624 13, 645 91, 167 -0.7 +2.9 1,240 1, 552 +25. 2 29 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" Decem- January ber October November 53, 696 18,836 36, 529 25, 017 41,683 34, 666 49, 797 29, 892 2,954 2,374 1,625 2,421 2,046 2,443 3,026 2,337 2,523 3,206 2,168 2,486 13,064 10, 176 8,943 13, 400 51.3 12,002 47.5 12,049 42.6 111,898 38.4 i 10, 167 PER CENT INCREASE (+) OR DECREASE (— ) 1926 1927 February CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 Per ct. increase (+) or decrease (-) cumulative 1927 from 1926 Feb., 1927, from Jan., 1927 Feb., 1927, from Feb., 1926 1926 1927 -5.0 -30.6 +0.3 -23.8 111, 683 63,950 97, 117 50,643 -13.0 -20.8 14, 146 +51.0 +43.1 22, 860 33, 639 +47.2 M9.7 1 12, 047 +25.8 -1.4 -2.8 -17.0 January February 64,493 36, 715 47,190 27, 235 2,310 1,927 1,639 2,320 1,971 2,080 20, 239 8,714 48.3 10,001 45.1 12, 161 TEXTILES— Continued Burlap and Fibers Imports: Burlap _ . _ _ _ . thous. of lbs_. Fibers (unmanufactured) long tons _ . 47, 320 20, 751 Pyroxylin Coated Textiles Pyroxylin spread ._ _. _ __ thous. of lbs__ Shipments billed. _thous. of linear yds.. Unfilled orders, end of mo. -thous. of linear yds_. FUR Sales by dealers thous. of dollars.. BUTTONS Fresh-water pearl buttons: Production per ct. of capacity Stocks end of month thous of gross IRON AND STEEL Iron 20 27 16 24 38 27 +50.0 -11. 1 65 40 -38.5 186 4,717 205 4,562 » 233 4,524 193 4,234 202 5,043 160 4,389 -17.2 -6.4 +20.6 -3.5 362 9,432 426 8,758 +17.7 -7.1 42, 761 35, 098 7, 663 38, 426 31, 286 7,140 33,971 27, 279 6,692 29,809 23, 746 6,063 32, 035 25, 412 6,623 27,677 21,593 6,084 -12.3 -13.0 -9.4 +7.7 +10.0 -0.3 3,237 752 52 3,091 769 54 3,104 760 52 2,941 684 51 3,316 716 57 2,923 651 50 -5.3 -10.0 -1.9 +0.6 +5.1 +2.0 6,239 1,367 107 6, 045 1,444 103 -3.1 +5.6 -3.7 213 105, 850 57.1 203 98, 360 54.7 208 100, 635 57.0 217 106, 135 59.5 224 104, 065 59.3 226 104, 800 60.3 +4.3 +5.5 +4.4 -4.0 +1.3 -1.3 21,009 24, 423 86.0 82 82 18, 270 22,158 82.4 99 72 13, 613 18, 934 71.3 91 62 13,101 15, 478 84.6 105 74 16, 797 22,087 76.0 77 64 16, 123 21, 801 73.9 91 69 -3.8 -18.3 +18.7 +15. 4 +19.4 -18.7 -29.0 +14. 5 +15.4 +7.2 32, 920 43, 888 26, 714 34,412 -18.9 -21.6 43, 214 42.7 41, 102 39, 017 46, 977 48.2 41, 545 37, 737 47,454 47.7 44,717 46, 872 58,882 60.3 50, 264 54,237 72, 417 69.2 52, 287 61, 120 62, 574 59.7 59, 845 54, 118 +24.1 +26.4 +12.4 +15.7 -5.9 +1.0 -16.0 +0.2 134,991 106, 336 -21.2 112, 132 115, 238 94, 981 101, 109 -15.3 -12.3 20.76 18.50 20.83 20.51 18.50 20.77 20.26 18.00 20.16 20.26 18.00 19.73 22.26 20.00 22.29 22.26 20.00 22.31 0.0 0.0 -2.1 -900 -10.0 -11. 6 17, 676 30, 978 24, 830 89, 849 15, 914 26, 175 23, 966 81, 010 12, 245 18, 177 12, 768 74, 967 17,164 12, 692 10, 604 82, 765 19, 087 13, 087 13, 278 74, 324 21, 240 12, 928 14, 150 85, 332 22, 338 35,354 28, 170 87, 437 19,229 27, 777 28,255 77, 150 15, 543 19, 932 14, 156 72, 951 20, 658 13, 105 10, 896 81, 849 20, 802 13, 846 14, 617 89, 567 19, 471 12, 736 14, 341 93, 198 15,000 20, 173 18, 257 12, 356 19, 631 20, 236 11, 829 14, 435 12, 316 14, 226 9,534 9,240 15, 342 10,004 10, 576 15, 360 9,770 12, 202 39, 409 32, 375 29,915 34, 464 32, 115 38, 053 thous. of long tons.. per cent thous. of long tons 4,093 88 64 3,722 80 54 *<» 3,807 82 59 3,726 86 56 4,150 89 69 3,802 88 53 -2.1 +4.9 -5.1 -2.0 -2.3 +5.7 7,952 7,533 -5.3 58 122 115 thous, of long tons.. 3, 684 3,807 3,961 3,800 3,597 4,883 4,617 -5,3 -22.1 13 Manganese ore, imports.- -thous. of long tons.. Iron ore: Imports-thous. of long tons. _ 190 Consumption thous. of long tons 4,948 Stocks, end of month— 42,004 Total thous of long tons 34,407 At furnaces thous of long tons 7,597 On Lake Erie docks.thous. of long tons.. Pig-iron production: 3,334 Total. U. S thous. of long tons . 755 Merchant furnaces thous. of long tons.. Canada thous. of long tons 70 Furnaces in blast, end of month: 219 Furnaces number Capacity long tons per day 108, 760 58.9 Per cent total per cent Ohio gray-iron foundries: Meltings— 14, 365 Actual long tons.. 17,622 Normal. long tons 83.3 Ratio to normal per cent of normal. . Stocks, end of month, .per cent of normal.. 87 58 Receipts per cent of normal Malleable castings: 53, 963 Production short tons 52.7 Operating activity per ct. of capacity. _ 49, 738 Shipments short tons New orders. ._ _. short tons.. 43, 322 Wholesale prices: Foundry, No. 2, 20.26 northern dolls per long ton 18.00 Basic (valley furnace). .dolls, per long ton.. 20.39 Composite pig iron dolls, per long ton.. Cast-iron Boilers and Radiators Round boilers: Production thous of Ibs Shipments thous of Ibs New orders.. _ thous. of lbs._ Stocks, end of month.. thous. of lbs_. Square boilers: Production . thous. of lbs_. Shipments thous of Ibs New orders thous. oflbs.. Stocks, end of month thous. of lbs_. Radiators: Production.. thous. sq. ft. heating surface. _ Shipments... thous. sq. ft. heating surface.. New orders ..thous. sq. ft. heating surface.. Stocks, end of month thous. sq. ft. heating surface.. Crude Steel Steel ingots, production: United States, total Ratio to capacity Canada U. 8. Steel Corporation: Unfilled orders, end of month i Revised. -5.7 30 TREND OF BUSINESS MOVEMENTS—Continued l 1926 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February t 1927, "Survey" October 1926 1927 November Decem- January ber PER CENT INCREASE (+) OR DECREASE (— ) February January February Feb., 1927, from Jan., 1927 "CUMULATIVE TOTAL Feb., 1927, from Feb., 1926 Per ct. •in- FROM JANUARY 1 crease THROUGH FEBRU(+) ARY 28 ;or de- 1926 1927 ^crease (-) cumulative 1927 from 1926 IRON AND STEEL— Continued Crude Steel— Continued Steel castings: New ordersTotal short tons 108, 162 74, 198 91,229 94, 917 85, 747 1 101. 367 70, 815 177 Ratio to capacity per cent 82 72 69 53 56 65 Railroad specialties short tons.. 27, 827 38,111 51,574 41, 816 39, 792 28,079 48, 717 Miscellaneous short tons 56, 588 42, 736 50,437 53, 101 46,371 47,636 1 52, 650 ProductionTotal short tons 91, 884 81,804 i 84, 275 93,041 79,342 86, 285 84,240 Ratio to capacity per cent.. 64 164 69 62 60 65 70 Railroad specialties short tons.. 25, 737 37,321 41,208 24,421 28, 699 i 32, 982 33,250 Miscellaneous short tons 61,864 50,990 55, 720 50,676 53,605 53,105 151,293 Sheets, blue, black, galvanized, and full finished: ProductionTotal .... short tons. 314, 598 278, 455 238,345 256, 856 282, 171 328, 643 299, 553 Ratio to capacity per cent.. 101.4 97. 4^ 104.4.1 100.9 86.9 72.3 83.5 Stocks, end of monthTotal . .short tons.. 141,206 165, 114 160, 193 161, 661 157, 614 165, 445 165, 966 Unsold short tons.. 40, 758 47, 168 40,929 49, 182 44, 974 51, 648 55, 295 Shipments . short tons 301, 474 262, 797 219, 498 239,019 261,412 333, 485 290, 026 New orders short tons.. 212, 029 185, 235 240, 862 261.357 241, 951 181, 101 253, 323 Unfilled orders, end of month.. short tons.. 581, 993 500, 120 529, 940 526, 550 513,002 523, 882 609, 203 Steel barrels: Production barrels. _ 493,363 510, 489 539,805 529, 137 504, 134 522, 486 468, 722 Ratio to capacity per cent.. 46.2 43.8 46.9 46.0 48.1 50.0 48.0 Shipments _. barrels . 497,031 505,383 546,392 525, 518 503, 183 518, 104 469. 432 Stocks, end of month ..barrels.. 49,271 49, 772 54,377 51, 409 52,360 45,390 47,790 Unfilled orders, end of month_ barrels.. 1,149,325 1,732,007 1, 845, 987 1, 788, 194 1, 663, 772 1, 765, 846 1, 697, 328 Wholesale prices: Steel billets, Bessemer .dolls, per long ton.. 33.00 35.00 35.00 35.00 35.00 35.00 35.00 Iron and steel dolls, per long ton.. 38.02 39.18 38.43 37.01 38.26 37.76 38.95 Composite steel ..dolls, per 100 Ibs 2.65 2.56 2.63 2.62 2.65 2.65 2.65 Structural steel beams... dolls, per 100 Ibs.. 2.00 2.00 2.00 2.00 1.95 1.95 1.95 Steel sheets, Youngstown district dolls, per 100 Ibs . 3.25 3.25 3.25 3.20 -10.0 -10.4 -18.3 -4.2 -3.9 -4.2 -4.8 -5.0 203,079 192, 596 -5.2 93,390 109, 689 88, 509 103,087 -5.2 -6.0 0.0 O.'O +0.8 -0.6 -8.3 -7.2 -19.3 +0.6 184, 925 168, 515 -8.9 78, 529 106, 396 66,232 102,283 -15.7 -3.9 +9.9 +16.6 -5.8 -3.5 628, 196 539,027 -14.2 -2.5 +4.9 +9.4 -7.4 -2.6 -4.7 -8.7 -9.9 +33.6 -2.1 623, 511 434, 424 500, 431 503,308 -19.7 +15.9 -4.7 -4.0 -4.2 +1.8 -7.0 -3.5 -1.5 -2.9 +5.2 -2.0 991, 208 1,033,271 +4.2 987, 536 1,028,701 +4.2 -5.7 -2.0 -2.3 -2.5 -5.7 -5.0 -2,7 0.0 0.0 +1.6 +27.8 +27.8 +3.6 +3.6 +19.0 +19.0 -5.0 -5.0 368, 880 391, 140 +6.0 397, 500 356, 160 -10.4 37, 541 +67.5 +52.0 49 +65.2 +55.1 10, 184 +130. 1 +223. 9 65, 025 91, 128 +40.1 18, 500 47, 319 +155. 8 Steel Products Structural steel, fabricated: New orders (prorated) short tons.. 203, 520 64 Ratio to capacity per cent-Shipments (prorated) .short tons.. 251, 220 79 Ratio to capacity per cent.. Steel plate, fabricated, new orders: Total__ short tons.. 42,007 57 Ratio to capacity per cent__ Oil-storage tanks _ _ .. short tons. . 23,094 Iron and steel: Exports _ _ ..longtons.- 172,070 64,722 Imports long tons Steel furniture: Business group— Shipments thous. of dolls 2,553 2,615 New orders thous. of dolls. . 1,687 Unfilled orders, end mo.thous. of dolls.. ShelvingShipments . thous. of dolls _ 640 596 New orders thous. of dolls.. Unfilled orders, end mo. thous. of dolls. _ 745 1 184, 440 58 190, 800 60 193, 980 61 219, 420 169 225, 780 71 213,060 67 171, 720 54 174,900 55 219,420 69 181, 260 57 184, 440 58 206, 700 65 1 1 27, 244 134 9, 476 134,068 146 i 14, 336 57,060 76 32,983 27, 484 34 8,316 219, 830 58,472 198, 189 51,764 215, 235 42, 219 166, 128 31, 908 174, 585 71, 838 157, 187 92, 681 -22.8 -24.4 +5.7 i -65.6 | 331, 772 164, 519 381,363 74, 127 +14.9 -54.9 2,735 2,603 1,547 2,934 2,802 1,556 1 2, 731 i 2, 887 i 1, 728 2,690 2,778 1,806 2,859 3,064 1,928 2,599 2,662 1,976 -1.5 -3.8 +4.5 +3.6 ! +4.4 -8.6 5, 458 5,726 5,421 5,665 -0.7 -1.1 583 575 731 622 572 608 1556 1582 1623 608 659 675 578 582 585 604 656 634 +9.4 +13.2 +8. 3 +0.7 +0.5 +6.5 1,182 1,238 1,164 1,241 -1.5 +0.2 454, 536 405, 345 570, 608 652,334 542,640 682, 896 414, 121 445, 377 501, 793 472, 814 422,004 536, 978 85 27,606 72 34,974 69 40,467 105 41,400 72 36, 913 83 33, 141 +52.2 +2.3 +26.5 +24.9 155 70,054 174 81,867 +12.3 +16.0 175 184 340 134 193 278 123 138 248 143 155 234 145 166 319 146 163 300 +16.3 +12.3 -5.6 -2.1 -4.9 -22.0 81,394 69,654 82,263 70,340 67,214 55,319 74, 563 62, 510 68, 753 54, 557 77,164 61,509 +10.9 +13.0 -3.4 +1.6 145, 917 116, 066 141, 777 117,829 -2.8 +1.5 574 583 620 6,310 506 500 620 4,848 1602 1581 572 4,956 704 581 637 759 723 415 5,627 637 637 643 4,510 +16.9 0.0 +11.4 +10.5 -8.8 -0.9 1,396 1,360 1,306 1,162 -6.4 -14.6 1,462 1,674 3,029 1,533 1,541 2,992 1,634 1,112 3,499 1,390 1,486 3,384 1,331 1,193 2,910 1,280 1,275 2, 892 -14.9 +33.6 -3.3 +8.6 +16.5 +17.0 2,611 2,468 3,024 2,598 +15.8 +5.3 1 60, 367 175 26, 269 1 Machinery Foundry equipment: New orders _ dollars 396, 354 Shipments dollars.. 447, 189 Unfilled orders, end of month dollars. . 524, 612 Stokers, mechanical: 112 Shipments number Shipments. _ horsepower . 40,780 Machine tools: New orders _ _ index number 195 Shipments index number . 193 Unfilled orders, end of mo—index number. _ 350 Washing machines, shipments: Total number 89,645 Electric number 75, 459 Water softeners: New orders units.. 669 Shipments units.. 634 Stocks, end of month units.. 804 Water systems, shipments units. . 7,463 Steam, power, and centrifugal pumps: New orders thous. of dolls.. 1,484 Shipments thous. of dolls.. 1,540 Unfilled orders, end of mo.. thous. of6 dolls.. 3,256 Agricultural machinery and equipment: ShipmentsTotal index number.. 84.7 Domestic index number-81.8 Foreign index number 99.8 Production index number . _ 131.0 i Revised. 77.0 68.4 121.9 130.8 182.8 180.4 195.8 1 124. 8 «» See 105.4 107.5 94.1 129.8 table on p. 24 of the 152. 2 119.0 119.4 147.4 i 116.9 177.3 141.3 136.1 ! March, 1927, issue for earlier data. i 31 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulative* shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" 1927 PEE CENT INCREASE (+) OR DECREASE (-) 1926 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRU- ARY 28 Perct. increase (+ } or decrease (-) cumulative 1927 from 1926 Feb., 1927, from Jan., 1927 Feb., 1927, from Feb., 1926 15 96 5 +83.3 +79.1 -58.8 -26.7 +25.0 +40.0 36 182 9 82 43, 659 86 51,478 -2.4 +0.6 -4.7 -9.6 168 95, 137 166 92, 818 -1.2 -2.4 3,148 48 55 3,138 63 34 3,564 55 54 +3.9 +14.3 -14.1 -11.7 -12.7 +1.9 6,702 118 88 6.177 90 119 -7.8 -23.7 +35.2 208, 718 196, 973 11, 745 275, 156 260, 330 14, 826 284, 703 272, 922 11, 781 334, 524 319, 763 14, 761 +31.8 +32.2 +26.2 -17.7 —18.6 +0.4 619, 227 592, 685 26,542 483, 874 457, 303 26, 571 -21.9 -22.8 +0.1 30, 161 28, 461 1,700 40, 788 i 37, 169 3,631 41, 858 38, 029 3,829 33,517 29, 819 3,698 41, 784 37, 707 4, 077 +2.6 +2.3 +5.5 +0.2 +0.9 -6.1 75, 301 67. 526 7, 775 82, 646 75, 198 7,460 +9.8 +11.4 -4.1 27, 873 20, 562 7,311 25, 663 21, 805 3,858 29, 835 22, 122 7,713 31, 524 21, 355 10, 169 26, 312 21, 171 5,141 28, 232 22, 355 5,877 +5.7 -3.5 +31.8 +11. 7 -4.5 +73.0 54, 544 43, 526 11, 018 61, 359 43, 477 17, 882 +12.5 -0.1 +62.3 7,546 5,439 2,107 12, 919 8,793 6,435 2,358 14,242 5,620 4, 836 784 13, 641 7,466 5,296 2,170 14, 111 5,308 3,597 1, 711 5,159 3,760 1,399 17, 234 8,408 5,936 2,472 17, 547 -28.9 -32.1 -21.1 -36.9 -39.4 -30.8 13, 567 9,696 3,871 12, 774 8,893 3,881 -5.8 -8.3 +0.3 256, 631 173,915 170, 567 88, 729 85, 667 188, 056 142, 700 -3.5 -40.0 330, 756 174, 396 -47.3 81 115, 849 99, 073 84 78, 550 101, 729 89 44, 130 52, 729 99, 367 81, 010 124, 426 102, 025 84 76, 332 53, 698 82 91, 313 64, 971 +25.2 +25.9 +36.3 +57.0 167, 645 118, 669 223, 793 183, 035 +33.5 +54.2 125 116 109 145 6, 018 79 94 83 119 7,018 95 109 64 112 6,038 132 107 79 140 5, 134 158 100 93 155 8.611 137 103 127 115 7. 161 160 114 139 138 8.380 +19.7 -6.5 +17.7 +10.7 +67.7 -1.2 -12.3 -33.1 +12.3 +2.8 15, 541 13, 745 -ll.fi 75, 099 87, 012 74, 947 92, 768 72, 396 86, 907 i 76, 198 89, 719 69, 031 79, 677 71, 026 78, 576 68, 131 75, 630 -n.2 -9.4 +1.3 +5.4 139, 157 154, 206 145, 229 169, 396 +4.4 +9.9 123, 120 136, 600 73, 939 36, 563 126, 322 148, 321 74, 207 .46, 471 126, 424 142, 300 61, 942 46, 932 133, 110 143, 337 76, 499 43, 879 122, 292 132, 172 67, 564 37, 184 113, 974 129. 518, 67, 829 33, 648 110, 538 126, 455 70, 406 30, 506 -8.1 -7.8 -11.7 -15.3 +10.6 +4.5 -4.0 +21.9 224, 512 255, 973 138, 235 64, 154 255, 402 275, 509 144, 063 81, 063 +13.8 +7.6 +4.2 +26.4 68,233 267, 866 .1386 73, 856 277, 479 .1358 85, 501 93, 982 273, 135 i 275, 205 .1299 .1330 105, 020 268, 310 .1268 81, 686 251, 096 .1382 86, 354 251, 947 .1400 +11.7 -2.5 -2.4 +21.6 +6.5 -9.4 Plumbing fixtures: New orders, tubularQuantity -. number. « 155, 069 Value dollars. _ 175, 454 Wholesale price, 6 pieces.,, dollars.. 106. 19 Brass faucets: New orders number of pieces 253, 604 Shipments .number of pieces. . 311, 883 172, 394 171, 963 106. 02 152, 616 161,629 105. 74 371, 125 248, 094 i 105. 91 232, 435 208, 569 105. 16 376, 875 310, 120 109. 79 239, 507 234, 164 109. 72 -37.4 -15.9 -0.7 -3.0 -11.9 -4.2 616, 382 544, 284 603, 560 456, 663 -2.1 -16.1 216, 117 246, 041 137, 634 142, 661 390, 798 399, 338 287, 356 280, 153 551, 408 455, 876 344, 264 351, 174 -26.5 -29.8 -16.5 -20.2 895, 672 807, 050 678, 154 679, 491 -24.3 -15.8 October November Decem- January ber 13 97 17 18 86 19 18 95 5 6 67 17 11 120 7 21 86 4 148 44,334 132 43,315 1130 i 40, 687 184 i 46, 279 82 46,539 3,239 40 32 4,330 52 79 3,512 51 63 3,029 42 64 300, 160 289, 565 10, 595 226, 278 219, 504 6,774 143, 413 137, 361 6,052 46, 985 42, 910 4,075 39, 430 36, 376 3,054 20, 395 16, 348 4,047 February January February 1926 1927 IRON AND STEEL-Continued Machinery—Continued Electric industrial trucks and tractors: Shipments, domesticTractors number of vehicles.. All other types number of vehicles.. Exports number of vehicles.. Fire-extinguishing equipment, shipments: Motor vehicles number.. Hand types number.. 17 -52.8 +2.7 187 24 +166.7 PATENTS ISSUED Total, all classes Agricultural implements _ Internal -combustion engines . . . number .. number . _ number . AUTOMOBILES Production: Passenger carsTotal number of cars. _ United States number of cars._ Canada. ... _ .number of cars.. TrucksTotal . .number of cars. . United States number of cars Canada number of cars. . Exports: Assembled— Total number of cars.. Passenger cars number of cars.. Trucks . . _ .number of cars, From CanadaTotal . number of cars. . Passenger cars number of cars Trucks . number of cars __ Foreign assemblies number of cars. . Sales, passenger cars and motor cycles _ thous. of dolls.. Shipments (General Motors Co.): Proportion closed cars.. percent . To dealers number of cars To users number of cars.. Accessories and parts: ShipmentsOriginal equipment index nos._ Replacement parts index nos.. Accessories index nos__ Service parts index nos Exports . .thous. of dolls . NONFEREOUS METALS Copper Production: Mines short tons Smelter _ short tons.. Refined (North and South America) short tons.. World production, blister short tons Domestic shipments, refined short tons Exports . .. short tons.. Stocks (North and South America) : Refined .short tons.. Blister _ short tons.. Wholesale price, electrolytic dolls, per lb._ 1 1 Copper Products Tin long tons 5,955 6,140 6,505 6,295 5,965 7,340 6,250 -5.2 -4.6 13, 590 12, 260 -9.8 long tons long tons long tons.. dolls per Ib 14, 841 1,554 5,126 .6823 15, 257 2,304 6,882 .6867 16, 326 1,909 6,384 .6664 15, 342 3,304 7,966 .6479 14, 221 2,484 4,704 .6653 16, 787 2,104 7,031 .6142 16, 239 3,399 6,501 .6265 -7.3 -24.8 -40.9 +2.7 -12.4 -26.9 -27.6 +6.2 33, 026 5,503 13, 532 29, 563 5, 788 12, 670 -10.5 +5.2 -6.4 Retorts in operation, end of month number Production short tons.. Stocks, end of month short tons Ore, Joplin district: Shipments short tons Stocks, mines, end of month. ..short tons.. Price, slab, prime western dolls, per lb._ i Revised. 87,028 54,979 15,909 88,076 55, 062 14,481 88, 668 56,884 21, 887 88,908 56, 898 29, 912 85, 836 51, 341 32, 938 96, 229 56, 389 14,300 87, 651 53, 237 20, 341 -3.5 -2.1 -9.8 -3.6 +10.1 +61.9 109, 626 108, 239 -1.3 75, 786 26,287 .0730 70,045 22, 482 ,0720 69, 699 19, 158 .0702 69, 853 25, 515 .0666 46, 603 29, 202 .0667 76, 569 25, 201 .0830 77, 093 21, 528 .0776 -33.3 +14.5 +0.2 116, 456 -24.2 Deliveries (consumption) Stocks, end of month: World visible supply United States Imports Wholesale price, pig tin Zinc -39.5 +35.6 -14.0 153, 662 ' 32 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" October PER CENT INCREASE (+) OR DECREASE (-) 1926 1927 February November December January 51, 527 53, 878 i 51, 725 8,641 10, 997 61, 460 70, 989 47, 981 48,902 120, 054 1 127, 035 .0801 .0786 10, 812 64,768 48, 803 134, 682 .0758 4,575 1,066 3,509 January February 48, 251 50, 796 47,604 7,448 61, 305 11, 976 71, 645 47,663 104, 663 .0926 12, 306 58, 951 46, 804 105, 417 .0915 5,153 1,444 3,708 5,140 1,272 3,868 Feb., 1927, from Jan., 1927 Feb., 1927, from Feb., 1926 -6.7 Per ct. increase ( } or tdecrease (-) cumulative 1927 from 1926 CUMLATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 1926 1927 +1.4 98,400 99, 976 +1.6 -31.1 -39.5 -5.3 +4.0 24, 282 130, 596 18,260 126, 073 -24.8 -3.5 -8.1 -11.0 -12.6 -16.2 -6.6 -9.3 10, 293 • 2,716 7,576 9,551 2,286 7,265 -7.2 -15.8 -4.1 -0.4 -0.1 +3.7 +30.9 -8.1 -8.3 173, 412 165, 927 -4.3 190, 502 166, 612 -12.5 NONFERROUS METALS-Continued Lead Production _. ._ short tons._ 53, 389 Ore shipments: Joplin district .. short tons.. 14, 965 Utah short tons - 76, 317 Receipts of lead in U. S. ore short tons.. 48, 881 Stocks, U. S. and Mexico, end mo. .short tons.. 118, 311 Price, pig, desilverized (New York) ..dolls per lb. .0840 .0742 Babbitt Metal Consumption: Total apparent _. Direct by producers Sale to consumers thous. of Ibs.. thous. of Ibs.. thous. of Ibs. . Arsenic Crude: Production Stocks, end of month Refined: Production „ Stocks, end of month I -2.1 -18.9 4,868 1,339 3,529 4,358 1,147 3,211 4,013 1,096 2,917 4,976 1,220 3,756 short tons.. short tons.. 419 2,538 514 2, 667 537 2, 621 1,414 2, 725 386 3,433 357 3,540 short tons. . short tons.- 697 2,382 885 2,188 866 1,798 913 1,983 258 5,950 536 5, 675 dozens.. 143, 038 dozens. . 140, 778 114, 844 88, 520 118. 525 101, 356 131, 006 141, 817 148, 537 150, 430 138, 159 124, 955 32, 865 31, 321 31, 393 22,025 30, 763 31, 903 38, 526 43, 441 51, 658 48, 620 80, 271 161, 391 84, 209 68, 133 177,331 80, 023 83, 117 182, 363 86, 802 82, 810 189, 108 79, 810 90,503 130,056 103, 500 82,909 144, 501 87,002 86, 552 225, 645 86, 962 74,005 265, 400 92, 759 130, 019 256, 062 106, 853 88, 910 267, 420 85, 928 114, 198 232, 117 125, 168 104, 982 246, 544 102, 910 -31.6 +4.4 -19.6 -15.3 +8.5 -16.5 219, 180 218, 929 -0.1 228, 078 192, 781 -15.5 91, 699 274,422 94, 740 78, 524 306, 431 97, 081 99, 302 296, 028 104, 910 99, 665 311, 636 94, 264 115,017 253, 779 123, 656 97, 797 275, 530 97, 108 +0.4 +1.9 +5.3 +13.1 -10.1 -2.9 212, 814 198, 967 -6.5 220, 764 199, 174 -9.8 40, 247 137, 926 42, 243 35, 659 144, 564 44, 914 41, 140 129, 066 43, 929 43, 109 135, 460 39, 977 51, 922 158, 717 58, 729 46, 210 160, 656 47, 147 +4.8 +5.0 -9.0 -6.7 -15.7 15 2 98, 132 84,249 -14.1 105, 876 83, 906 -20.8 38, 801 96, 966 49, 804 127, 104 47, 343 117, 574 43, 104 118,441 88, 388 200, 619 89, 611 198, 326 -9.0 +0.7 -51.9 -40.3 74 85 79 65 72 4,995 39.3 6,051 47.6 5,455 44.5 6,283 51.3 6,922 54.4 6,436 50.6 5,872 47. a 5,760 47.0 634, 999 234, 605 371, 939 28,455 740, 786 223, 926 489, 356 27, 504 407, 776 143, 893 240, 763 23, 120 464, 916 157, 097 289, 254 18, 565 527, 727 182, 183 326, 183 19, 361 311, 529 90, 428 176, 583 44, 518 243, 839 71, 715 141, 789 30, 335 250, 859 93, 176 122, 681 35, 002 273, 380 93, 811 134, 726 44, 843 280, 320 93, 540 144, 031 42, 749 834, 884 576, 794 494, 566 567, 748 489, 884 745, 629 897, 262 744, 424 907,971 692, 583 766, Oil 815, 977 934, 124 878,028 807, 281 Galvanized Sheet Metal Ware Pails and tubs: Production Shipments Other: Production Shipments _ dozens--..dozens-- 38, 847 41, 295 Enameled Ware Baths: Shipments . number . 98, 237 Stocks, end of month „ number _ 158,764 New orders number 92, 008 Lavatories: Shipments number 117, 122 Stocks, end of month _ _. number-- 208,406 New orders number 109, 582 Sinks: Shipments number 120, 262 Stocks, end" of month.. number __ 246, 816 New orders • number . 110, 784 Miscellaneous sanitary ware: Shipments number 52, 018 Stocks, end of month number.. 135, 600 New orders number 49, 027 Unfilled orders, end of month: Baths __ ..number.. 43, 556 Small ware _ number-- 105, 664 Household ware: Furnaces operating per cent of total.. 86 Porcelain flat ware: c New orders— 7,790 Total thous. of sq. f t _ _ Ratio to capacity per cent.. 61.2 ShipmentsTotal thous. of sq. ft_. 7,015 Ratio to capacity per cent . . 55.1 Band Instruments Shipments: Total Cup mouthpieces Saxophones .Woodwind dollars 646, 065 245, 328 dollars . dollars 367, 628 dollars,. 33, 109 474, 302 160, 558 289, 347 24, 397 j +16.3 +11.6 +20.2 +5.5 -10.1 -11.9 -11.3 +26.0 992, 643 339, 280 615, 437 37, 926 882, 078 304, 451 530, 110 47, 517 -11.1 -10.3 -13.9 +25.3 -11.2 -10.3 1, 057, 632 933, 900 -11.7 Electrical Equipment Electrical porcelain, shipments: Total ..dollars.. 291, 992 Standard __ dollars.. 101, 984 Special dollars _ 148, 970 High tension dollars.. 41, 038 Laminated phenolic products, shipments dollars.. 1, 032, 042 Motors (direct current) : New orders dollars.. 801, 036 Billings (shipments) _ dollars . 837, 214 Power switching equipment (quarterly) : New ordersIndoor. single pole units.. 3 15, 520 Outdoor single pole units . 3 14, 970 Electric hoists: New ordersQuantity number 233 Value dollars.. 128, 137 Shipments dollars.. 169, 245 i Revised^ 3 Quarter ending September, 1926. 439, 334 4 15, 486 14, 725 290 130, 257 139. 231 312 157, 329 174, 220 10, 776 « 7,905 262 134, 006 139, 522 269 148, 381 127, 459 * Quarter ending March, 1926, +2.7 -16.2 626 531 -15.2 +10.7 -10.7 319, 181 282, 387 -11.5 -8.6 -39.5 379. 697 266. 981 —29.7 » See table on p. 26 of the March, 1927, issue for earlier data. 305 152, 938 169. 024 321 166, 243 210. 673 33 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" 1927 October November Decem- January ber 893 1,429 4,406 5,837 978 585 3,964 5,182 785 3,738 8,422 thous. of dolls.. 932 thous. of dolls.. 61 thous. of lbs_. 2,175 units. . 178,993 790 48 2,643 157,713 59, 721 1,818 4,605 PEE CENT INCREASE (+) OK DECREASE (— ) 1926 February January February Feb., 1927, from Jan., 1927 Feb., 1927, from Feb., 1926 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 1926 1927 Per ct. increase (+) or decrease (-) cumulative 1927 from 1926 NONFERBOUS METALS— Continued Electrical Equipment— Continued Electric overhead cranes: • Shipments New orders Unfilled orders, end mo Inquiries received Vulcanized fiber: Shipments— Total Hollowware Consumption ._ Industrial reflectors, sales thous. of dolls.. -thous. of dolls.. thous. of dolls.. thous. of dolls . 1,008 704 888 3,971 777 913 1,130 971 731 50 2,908 137, 486 795 48 2,939 146, 152 977 42 2,630 946 34 2,822 57, 671 1.923 4,299 56,882 52,904 1,720 1,352 53,662 1,231 993 46,577 1,076 1,013 312 FUELS Coal and Coke Bituminous: ProductionUnited States thous. of short tons.. Canada thous. of short tons.. Exports thous. of long tons . C onsumption — By vessels thous. of long tons By electric power plants. _ thous. of short tons.. By railroads . thous. of short tons By coke plantsUnited States thous. of short tons.. Canada. .thous. of short tons . PricesMine average (spot). dolls. per short ton.. Wholesale, Kanawha, f. o. b. Cincinnati dolls, per short ton.. Retail, Chicago... dolls, per short ton.. Anthracite: Production . thous . of short tons Exports thous. of long tons.. PricesWholesale, chestnut, New York dolls, per long ton.. Retail, Chestnut, New York dolls, per short ton.. Coke: Production, U. S.— Beehivethous. of short tons.. By-productthous. of short tons Production, Canada.. thous. of short tons.. Exports.thous. of long tons.. Price, furnace, Connellsville dolls, per short ton.. 54, 592 1,708 4,188 840 841 718 376 3,697 8,973 3,591 9,104 3,846 9,424 3,801 6,847 263 6,735 234 6,555 237 6,557 1251 6,124 226 2.70 3.19 2.54 2.30 3.74 9.06 4.39 10.15 4.39 10.34 3.89 9.85 8,675 459 7,446 350 7,528 294 11.48 11.48 14.50 -7.0 +13.6 100,239 109, 786 +9.5 -21.4 +33.5 2,006 3,072 +53.1 -17.0 +2.3 635 688 +8.3 -15.4 -10.3 14, 885 492 12, 681 477 -14.8 -3.0 2,256 43 12,413 405 +450. 2 +841. 9 2,783 7,304 322 151 1,541 7.135 334 118 -44.6 -2.3 +3.7 -21.9 6,900 +7.1 7,519 +7.8 330 305 3,723 9,155 3,311 8,351 7,644 240 7,241 252 -6.6 -10.0 2.11 2.18 2.11 -8.3 3.64 9.64 3.49 9.48 3.39 9.34 -6.4 -2.1 6,561 220 5,852 185 173 6 2,083 37 11.48 11.49 11.48 (2) 11.49 14.50 14.50 14.50 14.50 (2) (2) 867 3,814 174 84 860 3,743 154 67 780 3,706 157 61 787 3,700 176 59 754 3,435 158 59 1,381 3,804 156 83 1,402 3,500 166 68 -4.2 -7.2 -10.2 0.0 -46.2 -1.9 -4.8 -13.2 4.00 4.89 3.91 3.88 3.70 7.31 7.84 -4.6 -52.8 0.0 +7.4 +3.2 -10.8 +180. 9 -15.9 +400.0 -0.1 -0.1 0.0 Petroleum Crude petroleum: Production thous. of bbls_. Stocks, end of month— Total (comparable) thous. of bbls.. Tank farms and pipe lines thous. of bbls.. Refineries thous. of bbls California — Light thous. of bbls._ Heavy thous. of bbls.. Imports. thous. of bbls. . Consumption (run to stills). thous. of bbls._ Oil wells completed number . Price, Kansas- Oklahoma dolls, per bbl_. Gasoline: ProductionRaw (at refineries) thous. of bbls__ Natural gas (at plants). thous. of bbls. . Exports thous of bbls Consumption _ thous. of bbls.. Stocks, end of month thous. of bbls.. Price, motor, New York dolls, per gal__. Keroseneoil: Production thous. of bbls.. Consumption thous. of bbls.. Stocks at refineries, end mo.thous. of bbls.. Price, 150° water white dolls, per gal... Retail distribution, 13 States. thous. of gals... Gas and fuel oils: Production thous. of bbls Consumption— By vessels __ . __ thous. of bbls By electric power plants.thous. of bbls.. By railroads _ thous. of bbls.. Stocks at refineries, end mo.thous. of bbls.. Price, Okla., 24-26, refineries-dolls, per bbl._ i Revised. 69, 043 69, 483 72, 061 71, 688 59, 672 154,566 277, 208 277, 099 278, 077 278, 685 291,400 1288,064 240, 365 ^36,843 241, 534 35, 565 242, 602 35, 475 243, 141 35,544 260, 619 30,781 257, 541 i 30, 523 30,390 87, 529 3,860 69, 199 1,957 2.050 30, 051 87, 440 5,043 67, 935 1,738 1.750 30, 861 87, 270 4,988 69, 820 1,556 1.750 4,514 69, 948 1,385 1.750 44,197 86, 614 4,688 61, 352 1,164 1.550 i 44, 871 i 86, 744 i 3, 743 i 56, 575 1,130 1.800 26, 337 2,907 2,687 23, 973 33, 712 .210 26, 245 2,967 3,779 20, 618 35, 905 .210 27, 498 3,100 3,325 21,419 39, 023 .210 27, 960 3,145 3,425 17,888 46, 058 .210 23, 208 2,524 3,278 17,582 41, 524 .170 121,259 2,381 3, 162 i 15, 814 i 44, 132 .175 5,126 3,235 8,238 .105 i 33, 653 5,357 3,592 8,060 .093 i 30, 159 5, 399 3,037 8,575 .093 i 29, 943 5,113 3,882 8,190 .094 5,122 3,521 6,851 .090 i 33, 312 14,746 i 3, 166 i 6, 855 .094 i 28, 607 32,444 31, 624 33,376 32,936 28,981 127,094 4,330 913 4,543 26, 376 1.356 3,952 959 4,318 26, 859 1.305 4,065 801 4,371 24, 898 1.275 3,940 783 3,746 1,026 4,301 23, 266 1. 250 3,232 732 3,728 21,445 1.181 2 No data available. 1.700 3,475 .218 .088 3,579 23, 195 1.255 e 114,238 -2.9 -5.6 +1.5 +9.9 +3.8 +24.6 8,431 117, 927 2,294 44, 467 4,905 6,440 33, 396 9,868 6,687 -6.4 -6.4 -9.2 +10.7 56, 075 6,978 1.250 1 -6.4 1 +5.8 See table on p. 26 of the March, 1927, issue for earlier data. 34 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" PER CENT INCREASE (+) OR DECREASE (— ) 1926 1997 i October November Decem- January ber February January February Feb., 1927, from Jan., 1927 Feb., 1927, from Feb., 1926 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 1926 1927 Per ct. increase or de^ crease (-) cumulative 1927 from 1926 FUELS— C ontinued Petroleu m— C ontinued Lubricating oil: Production thous. of bbls__ 2,768 Consumption thous. of bbls__ 1,778 Stocks at refineries, end mo_thous. of bbls_. 7,437 Price, paraffin, 903 gravity. -dolls, per gal__ .240 Asphalt: Production thous. of short tons__ 323 Stocks, end of month thous. of short tons,. 188 Coke: Production thous. of short tons 88 Stocks, end of month thous. of short tons.. 287 Wax: Production thous. of Ibs 56,011 Stocks, end of month thous. of Ibs. . 167, 925 2,724 1,722 7,620 .240 2,699 1,827 7,576 .240 2,570 1,496 7,867 .240 216 167 214 193 91 286 i 2, 448 * 1, 294 i 7, 910 .240 5,096 2,926 191 215 2,648 1,632 7,544 .240 * 162 175 152 182 314 93 291 93 287 74 231 64 210 54, 678 177, 054 55, 950 185, 331 54,114 192,835 53, 015 122, 773 * 50, 307 123, 964 29, 125 4,642 11, 572 6,028 3,980 22, 929 3,447 8,903 5,324 3,475 23,352 3,133 9,083 5,617 3,522 26, 110 2, 296 12,357 5,791 3,763 30, 937 2,544 12, 969 7,465 5,839 31, 747 2,823 16, 125 6,493 3,758 282,936 222, 556 40, 735 19, 645 281, 620 221, 880 40,747 18, 993 265,932 210, 772 36,384 18, 776 260, 214 210, 528 32, 368 17, 318 296,046 245, 820 34,046 16, 180 297, 193 248, 673 32, 547 15, 973 .161 .178 .153 .168 .151 .167 .155 .169 .145 .158 .150 .193 110, 746 216, 762 113,389 124, 499 263, 527 119, 940 89, 320 254, 489 46,201 69, 456 255, 469 29,923 60,098 219,752 20,791 1,226 23,681 71, 678 100, 085 24,738 1,170 22,748 67, 979 88,777 26, 502 1,256 24,199 75,297 80, 801 17, 784 1,170 23,235 71, 974 63,957 19,981 1,216 207, 921 188, 261 160, 767 82,261 147,457 82, 371 149, 048 84,713 149, 900 80, 491 274, 918 76, 397 277, 072 71, 855 274, 762 -1 138 103, 322 HIDES AND LEATHER Hides Imports: Total hides and skins thous . of Ibs . . Calfskins thous. of Ibs Cattle hides tbous. of Ibs Goatskins thous. of Ibs Sheepskins thous. of Ibs Stocks, end of month: Total hides and skins thous. of lbs_. Cattle hides thous . of Ibs Calf and kip skins thous. of Ibs Sheep and lamb skins tbous. of Ibs Prices: Green salted, packers' heavy native steers dolls. perlb_. Calfskins, country No. 1 dolls, per lb_. Inspected slaughter of livestock: d CanadaCattle and calves no. of animals.. Swine - no. of animals Sheep no. of animals 24, 553 2,963 10, 534 6,055 3,763 62,684 5,367 29,094 13, 958 9,597 50,663 5,259 22, 891 11, 846 7,526 -19.2 -2.0 -21.3 -15.1 -21.6 +12.5 +9.9 +24.6 117, 628 432, 220 42, 352 129,554 475, 221 50, 714 +10.1 +9:9 +19.7 +3.9 +21.8 2,056 2,387 +16.1 -0.4 -39.8 218, 166 127, 681 -41.5 +45.9 -8.1 2,206 1,751 -20.6 -8.1 +5.8 +0.1 +8.3 -28.2 -4.2 -22. 8 +12.7 22, 706 16, 627 5,099 980 24,299 17, 757 5,401 1,141 +7.0 +6.8 +5.9 +16.4 747, 138 1,279 583,394 980 -21.9 -23.4 886 888 +0.2 -6.0 +29.1 -14.8 4-4.6 0.0 -22.7 +5.0 -34.7 -6.7 +0.1 .130 .183 -6.5 -6.5 +11.5 -13.7 64,226 232, 242 25, 666 53, 402 199,978 16, 686 -13.5 -14.0 -30.5 1,057 20,096 67, 425 112,352 24,268 998 19, 568 65,309 105, 814 21, 750 142,412 114, 530 96, 569 85, 718 158, 946 75, 779 155, 660 78, 106 159, 474 67,806 272, 897 115, 615 298, 189 110, 829 299, 413 Leather Production: Sole leather. -thous. of backs, bends, sides. . Finished sole and belting thous. of lbs_. Finished upper thous of sq. ft Oak and union harness . ..stuffed sides.. Skivers .. doz_. Unfilled orders: Oak and union harness sides Stocks in process of tanning: Sole and belting thous. of Ibs Upper .thous. of sq. ft.. Stocks, end of month: Sole and belting thous of Ibs Upper thous. of sq. ft Exports: Sole thous. of Ibs Upper— Total thous. of sq. ft_. Cattle and calf thous. of sq. ft__ Patent thous. of sq. ft_. Sheep thous. of sq. ft__ Prices: Sole, oak, scoured backs, heavy Boston dolls per Ib Chrome calf,"B" grades, dolls, per sq. ft.. 879 635 i 11, 750 8,787 3,126 708 i 12, 618 7,941 3,842 835 .43 .45 .43 .45 839 1 12, 790 9,143 3,040 607 .43 .45 1 63, 724 712 1,039 1,075 1,131 12, 663 8,875 3,144 644 11, 636 8,882 2,257 497 11, 705 8,422 2,744 539 11,001 8,20$ 2,355 441 .43 .45 .43 .45 .46 .46 .46 .46 0.0 0.0 -6.5 -2.2 Leather Products Belting shipments: 370, 678 376,460 -4.7 -24.4 Quantity pounds.. 352, 255 287, 351 285,847 298, 764 284, 630 639 -4.0 -25.0 640 471 480 Value thous. of dolls. . 495 500 593 Shoes: 23, 874 24, 815 25, 698 26, 758 25,415 Production thous of pairs 31, 662 491 470 416 -19.1 -4.6 397 Exports _ thous. of pairs.. 546 498 407 Wholesale pricesMen's black calf 0.0 6.40 6.40 0.0 6.40 6.40 blucher Mass dolls, per pair 6.40 6.40 6.40 Men's dress welt, tan 5.00 0.0 4.85 4.85 5.00 -3.0 4.85 4.85 calf St Louis dolls per pair 4.85 Women's black kid, dress 4.15 4.15 0.0 -3.6 4.00 4.00 4.00 welt, lace, oxford dolls, per pair.. 4.00 4.00 Gloves: Glove leather663,089 610, 014 604, 271 576, 006 585, 986 Production number of skins Stocks (tanned)— 1,476,157 1, 453, 338 In process number of skins 1, 602, 217 1, 625, 071 1, 654, 771 r 1 448, 748 500,161 Finished .number of skins. _ 519, 327 526. 488 526, 288 <* See table on p. 23 of the February, 1927, issue for earlier data. i Revised. 35 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February , 1927, "Survey" PER CENT INCREASE (+) OR DECREASE (— ) 1926 1927 Feb., 1927, from Jan., 1927 Feb., 1927, from Feb., 1926 48, 057 32, 865 -34.6 -13.8 .261 68, 500 44, 528 .605 69,200 43, 161 .526 -2.6 -50.4 3,724 7,824 3,534 3,853 8,421 3,198 3,541 7,460 2,142 3,649 8,373 2,500 +3.5 +5.6 +7.6 +0.6 -9.5 +27.9 3,958 12, 150 4,027 4,003 11, 689 4,427 4,224 12,184 3,776 5,107 10, 770 2,728 5,119 12, 818 2,750 36 128 33 38 138 29 36 136 30 47 169 36 52 135 26 53 163 23 3,538 962 2,987 2,910 772 1,440 1,813 533 814 1,916 718 784 1,395 426 596 1,459 351 719 18, 513 16, 759 15, 941 13, 660 16, 574 16,709 9,777 9, 556 44, 105 9,091 6,377 42, 199 10, 992 3,421 42, 907 6,685 5,491 46, 355 10, 510 4,448 39, 133 8,745 2,781 44, 074 126, 783 129, 929 180, 100 12, 723 152, 957 150, 115 196, 894 25,388 133/397 141, 695 188,472 22,894 -13.4 -20.6 -1.6 -30.8 221, 200 1229,436 222, 824 1 229, 246 i 42, 014 1 38, 668 153, 584 144, 425 2.75 2.75 212, 952 211, 358 40, 262 89, 662 2.75 217, 246 215, 490 40, 542 125, 796 2.95 209, 458 208, 948 41, 178 99,948 2.95 135, 069 163, 717 172, 537 135, 755 161, 724 168, 241 121,318 150, 773 140, 003 139,688 158, 419 Decem- January ber October November dozen pairs.. 229, 798 196, 060 176, 605 dozen pairs _ dozen pairs.. dozen pairs , 56,087 34, 837 138, 874 51, 605 31, 046 113, 409 41, 673 26, 920 108, 012 58, 401 29, 334 52, 325 39, 155 57, 386 37, 754 43, 340 71, 340 43, 137 .333 73, 100 36, 737 .286 77, 300 37, 117 .256 3,827 7,438 3,318 3,243 7,798 2,708 thousands. _ thousands.. thousands.. 4,656 11,947 4,046 thousands __ thousands-thousands. _ February January February 196, 270 200,308 205, 764 50,917 27, 736 117,617 40,380 26,482 133, 446 45, 640 30, 370 129,754 28, 337 49,306 42,404 44,078 .268 3,512 7,842 3,413 3,639 12, 453 2,984 37 129 44 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 1926 1927 75, 269 71, 677 Per ct. increase (+) or decrease (-) cumulative 1927 from 1926 HIDES AND LEATHEE— Continued Leather Products— Continued Gloves— C ontinued . Gloves, cutTotal Dress and streetImported leather Domestic leather. Work gloves RUBBER Crude: World shipments, plantation long tons__ Imports (including latex) long tons. . Stocks, end of monthPlantation, afloat long tons.. Consumption by tire mfrs thous. of lbs_. Wholesale price, Para, N. Y..dolls. per lb__ -4.8 Tires and Tubes Pneumatic tires: Production . Stocks end of month Shipments, domestic Inner tubes: Production Stocks, end of month Shipments, domestic Solid tires: Production Stocks, end of month Shipments, domestic thousands. . thousands. . thousands.. _ 7,190 7,577 +5.4 4,642 6, 732 +45.0 +5.5 -17.5 +4.2 -4.9 -14.7 +37.3 10,226 8,226 -19.6 5,478 8,203 +49.8 +30.6 -11.3 +24.3 +3.7 +20.0 +56.5 105 83 -21.0 49 66 +34.7 -5.0 -8.3 -4.4 -44.4 286, 354 291, 810 273, 101 293, 637 -4.6 +0.6 48,282 31, 101 -35.6 -7.2 -7.8 +4.1 -41.6 0.0 +1.7 +1.2 -2.2 -10.3 -6.8 426, 704 424,438 442, 388 440,604 +3.7 +3.8 225, 744 243, 246 +7.8 129, 622 135, 663 147, 477 -10.6 -6.8 -6.4 +11.1 269, 625 275, 351 257, 073 312, 497 -4.7 +13.5 Other Rubber Products Rubber-proofed fabrics: Production— Total.. ..thous. of yds. . Auto fabrics thous. of yds_. 4 Clothing fabrics thous. of yds__ Rubber heels: Production . _ thous. of pairs.. Shipments— To shoe manufacturers. thous. of pairs.. To repair trade thous. of pairs.. Stocks, end of month thous. of pairs.. PAPER AND PRINTING Wood Pulp Mechanical: Production short tons_. Consumption and shipments.. .short tons.. Stocks, end of month. _ .short tons.. Imports short tons Chemical: Production short tons Consumption and shipments... short tons.. Stocks, end of month short tons . . Imports _ ..short tons.. Price, sulphite dolls, per 100 lbs__ 167, 597 162, 812 193, 040 39, 123 164, 278 * 147, 405 11 146, 318 163, 708 156, 409 1 148, 205 200, 932 1 195, 980 i 183, Oil 18, 378 26, 712 22, 556 235, 848 237, 560 42, 130 121, 806 2.75 227, 186 225, 202 43, 638 123, 582 2.75 143, 148 168, 500 186, 860 140, 427 164, 798 183, 368 146, 411 168, 821 172, 603 141, 042 167, 135 169, 577 136, 501 161, 922 170, 159 131, 333 158, 866 166, 102 119, 076 145, 263 134, 209 138, 964 136, 498 126, 428 128, 635 135, 505 133, 219 -9.3 -8.6 -19.2 -7.6 +7.2 +0.7 267, 599 272,003 259, 647 250,409 304,129 300, 311 -6.4 +11.8 +15.7 1,403 159, 509 1,256 153, 729 902 156, 408 1,360 142, 329 874 141, 199 2,489 125,999 1,416 128,965 -35.7 -0.8 -38.3 +9.5 3,905 254,964 2,234 283, 528 -42.8 +11.2 14, 633 14, 942 161, 917 43, 359 3.50 13, 592 12, 571 180, 663 37, 399 3.50 12, 030 14, 345 187, 272 41, 560 3.50 15, 968 17, 255 232, 944 43, 624 3.30 18,426 22, 769 16,356 14, 602 125,872 34, 398 3.50 14, 791 13,500 127, 661 37, 771 3.50 +15.4 +32.0 +24.6 +68.7 0.0 -5.7 920 187 737 174 634 96 722 132 628 113 559 131 11, 719 12, 814 104 11, 091 12, 386 102 10,244 12,544 106 12, 919 11, 178 102 11, 789 11, 108 96 10, 555 11,502 94 22,344 22, 610 24, 552 22, 375 +9.9 -1.0 1 1 Newsprint Paper Production: United States ..short tons. _ Canada short tons Consumption by publishers short tons.. Shipments: United States _. > short tons.. Canada short tons Imports short tons.. Exports: United States short tons Canada short tons._ Stocks, end of month: At millsUnited States . ..short tons... Canada short tons.. At publishers .... short tons.. In transit to publishers ..short tons.. Price, roll, f. o. b. mill.. dolls, per 100 lbs._ 1 3.30 Printing Book publication: American manufacture . . ..no. of titles... Imported .no. of titles.. Sales books: New orders __thous. of books.. Shipments thous. of books Printing activity weighted index number.. i Revised. 11, 632 11, 197 -10.0 +10.2 +0.2 -2.7 36 TREND OF BUSINESS MOVEMENTS—Continued 1926 1927 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February , 1927, "Survey" October November Decem- January ber PER CENT INCREASE (+) OR DECREASE (-) 1926 February January February Feb., 1927, Feb., 1927, Jan., 1927 Feb., 1926 from from Per ct. CUMULATIVE TOTAL inFROM JANUARY 1 crease THROUGH FEBRU- (+) ARY 28 or decrease (-) cumulative 1926 1927 1927 from 1926 PAPER AND PRINTING— Continued Book Paper Book paper, total: Production short tons.. 113,046 Stocks, end of month short tons.. 62, 378 Coated book paper: Production ...per ct. of normal.. 92 Shipments. ..per ct. of normal production. _ 94 Orders per ct. of normal production.. 85 Unfilled orders, end of month days.. 8 Uncoated book paper: Production per ct . of normal _ . 99 Shipments. _. per ct. of normal production.. 100 Orders per ct. of normal production.. 99 Unfilled orders, end of month days.. 13 115, 307 61, 130 117, 613 62, 353 119, 965 64,847 111, 567 64,199 110,822 60,894 108, 606 59, 067 -7.0 -1.0 +2.7 +8.7 89 88 79 7 87 92 82 5 95 91 87 7 88 88 94 9 87 87 88 9 92 92 102 10 -7.4 -3.3 +8.0 +28.6 -4.3 -4.3 -7.8 -10.0 98 93 93 13 96 93 88 12 104 97 93 10 102 99 97 11 100 104 98 13 101 101 102 14 -1.9 +2.1 +4.3 +10.0 +1.0 -2.0 -4.9 -21.4 92, 125 67, 446 89, 475 67, 860 * 92, 507 i 68, 754 87, 007 69,230 91,811 73, 751 83,019 68,819 -5.9 +0.7 38, 113 52, 959 35, 650 52, 408 i1 35, 148 52, 794 34,064 50, 999 39, 435 48,663 39, 115 49, 389 100, 528 67, 562 94, 672 65, 954 106, 334 69, 080 99, 103 70, 917 680, 841 316, 489 651, 273 311, 451 219,428 231, 532 +5.5 +4.8 +0.6 174, 830 179, 514 +2.7 -3.1 -3.4 -12.9 +3.3 78, 550 69, 212 -11.9 -5.8 -2.4 -4.5 -7.0 205, 437 196, 788 -4.2 745, 103 585, 868 159, 235 792, 913 630, 587 162, 326 +6.4 +7.6 +1.9 5,395 6,086 +12.8 Other Paper Wrapping paper: Production .. . _ _. short tons.. 95, 384 Stocks, end of month.short tons.. 67, 914 Fine paper: Production short tons 37, 756 Stocks, end of month short tons.. 51, 609 All other grades: Production . .short tons.. 109, 903 Stocks, end of month short tons.. 68, 908 Total paper (inc. newsprint and boxboard) : Production short tons.. 721, 249 Stocks, end of month short tons.. 318, 592 105, 511 67, 746 96, 260 65, 894 ' 1 1 702, 229 320, 809 638, 207 312, 763 652, 845 319, 044 431, 378 353, 307 78,071 359, 602 287, 714 71j888 371, 748 293, 677 78,071 421, 165 336, 910 84, 255 359, 052 281, 753 77, 299 386, 051 304, 115 81, 936 +13.3 +14.7 +7.9 +9.1 +10.8 +2.8 80 82 72 70 70 65 71 72 68 81 82 78 76 75 78 81 81 81 +14.1 +13.9 +14.7 0.0 +1.2 -3.7 81.9 Paperboard Shipping Boxes Production: Total Corrugated Solid fiber Operating activity: Total C orrugated Solid fiber thous. of sq. ft.. 476, 543 thous. of sq. ft.. 386, 104 thous. of sq. ft— 90, 439 per cent of normal. _ 87 per cent of normal . . 89 percent of normal. . 81 Other Paper Products Rope paper sacks, shipments— index number.. Abrasive paper and cloth: Domestic sales reams.. Foreign sales. reams-Labels, orders perct. of capacity. _ 133 123 120 99 89 101 89, 802 13, 123 68.9 72, 748 15, 903 97.1 60, 291 14,490 45.1 76,717 12, 575 84.5 84,825 11. 461 83.8 83, 795 10, 956 99.8 number. . 7,273 number-1,456 number. _ 158, 217 Building Costs (Index Numbers) 4,738 1,172 144, 942 3,385 1,070 147, 057 3,131 1,144 135, 935 2,955 2,802 1,278 147, 039 192 192 189 190 190 190 191 190 195 195 197 197 196 194 193 211 211 212 210 209 204 213 198 201 204 213 198 200 204 213 198 200 204 213 198 200 204 213 197 200 9,616 6,613 41, 691 4,562 9,856 5,941 37,033 2,812 10,037 3,721 29,757 2,329 5,181 68,049 5,587 61,531 56, 403 64, 552 223,305 33, 535 BUILDING CONSTRUCTION HOUSING -3.1 -17.9 2,593 1,141 133, 724 —5.6 +14.0 196 196 +0.5 0.0 -2.6 -3.1 195 195 -0.5 -1.0 207 208 -0.5 +0. 5 204 212 199 201 205 213 199 201 0.0 0.0 -0.5 0.0 -0.5 0.0 -1.0 -0.5 8,799 4,237 31, 025 2,967 11, 191 7,245 37,694 2,170 7,907 5,256 31,853 2,928 -12.3 +13.9 +4.3 +11.3 -19.4 -2.6 +1.3 19,098 12, 501 69, 547 5,098 18, 836 7,958 60,782 5,296 -1.4 -36.3 -12.6 +3.9 3,266 50,568 4,760 52,348 4,042 62,498 3,440 51, 660 +45.7 +38.4 +3.5 +1.3 7,482 114, 158 8,026 102,916 +7.3 -9.8 69,634 47, 139 199,483 21,912 77, 829 27, 134 160, 029 16, 675 65,937 40,381 158, 004 21,842 67, 514 94, 415 183, 279 12, 736 47,319 39, 087 171, 297 19, 214 -15.3 +39.3 114, 833 133, 502 354, 576 31,950 143, 766 67,515 318, 033 38, 517 +25.2 -49.4 -10.3 +20.6 46, 782 49, 122 473, 700 34, 972 63,357 118,583 520, 107 13, 725 31, 625 53,638 368,930 16, 771 45,765 49,358 381, 286 19,475 32,669 52, 761 443, 373 12,669 32, 078 64,728 373, 723 13, 478 +44.7 +42.7 64,747 117, 489 817,096 26, 147 77,390 102,996 750, 216 36,246 +19.5 -12.3 -8.2 +38. 6 26, 724 43,758 37, 911 26.285 41, 119 30,964 72,083 64,196 -10.9 AND Rental advertisements: Minneapolis, Minn Portland, Oreg Real estate conveyances (41 cities) Building materials: Frame house, 6-room, 1st of month Brick house, 6-room, 1st of month Concrete factory costs (Aberthaw), 1st of following month Building costs (Engineering News Record), 1st of following month _ Construction index: Frame index number. _ Brick, wood frame index number.. Brick, steel frame. ...index number. . Reinforced concrete index number.. 192 192 Building Contracts and Losses Contracts awarded (36 States): Commercial buildings thous. of sq. ft.. 11, 141 Industrial buildings thous. of sq. ft.. 6, 613 Residential buildings thous. of sq. ft._ 41, 814 Educational buildings thous. of sq. ft._ 3,404 Other public and semipublic buildings thous. of sq. ft.. 5,768 Grand total thous. of sq. ft.. 69, 316 Contracts awarded, value (36 States) : Commercial buildings thous. of dolls.. 61, 219 Industrial buildings thous. of dolls. . 45, 740 Residential buildings thous. of dolls.. 218, 982 Educational buildings .thous. of dolls.. 23,076 Other public and semipublic buildings thous. of dolls 49, 837 Public works and utilities. -thous. of dolls.. 100, 512 Grand total,.. thous. of dolls.. 499, 366 Contracts awarded, Canada thous. of dolls.. 43,384 Fire losses: United States and Canada. _thous. of dolls. . 14,877 i Revised. +27.4 +48.8 -1.3 +31.0 +3.3 -7.8 +13.7 -8.0 -23.7 +3.3 +2.0 +16.1 +44.5 -30.7 -15.1 37 TREND OF BUSINESS MOVEMENTS—Continued m? 1926 The cumulative 8 shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" October November December January February January CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 PER CENT INCREASE (+) OR DECREASE (— ) 1926 February Feb., 1927, from Jan., 1927 Feb., 1927, from Feb., 1926 Per ct, increase (+) or decrease (-) cumulative 1927 from 1926 1926 1927 880, 854 893, 729 937, 829 825, 829 744, 154 828, 720 -6.2 -16.7 —11.6 89, 184 18, 708 111, 140 1,332 +24.6 -92,9 1,062,268 1, 099, 870 1, 158, 064 116, 357 63, 652 920, 811 897, 534 974, 977 101, 929 49, 443 -13.3 -18.4 -15.8 -12.4 -22.3 -20. 6 +9.9 i +1.2 82, 811 67, 198 84, 480 64, 610 72. 912 82, 721 -22.0 +8.5 -2.1 -18.0 -19.5 +3.7 101, 817 203, 746 100, 068 149, 580 -1.7 -26.6 -20.6 1 -6.7 -5.3 177, 982 245, 346 144,708 231, 440 -18.7 -5.7 LUMBER PRODUCTS Softwood Lumber Southern pine: Production (computed).... M ft. b. m_. 441, 419 427, 430 436,869 422, 022 403, 807 446, 454 434,400 -4.3 Shipments (computed) M ft. b. m__ 457, 297 426, 171 345,865 382,751 361, 403 437, 159 456, 570 -5.6 New orders (computed) M ft. b. m__ 431,254 362,275 337, 200 426,558 ! 402, 162 -5.7 463, 977 473, 852 Stocks, end of mo. (computed).M ft. b. m._ 1, 045, 688 1, 065, 538 1, 164, 232 1,219,779 1,252,224 ; 1, 182, 790 1, 156, 211 +2.7 Exports, lumber M ft b m 58, 692 64, 492 44, 825 -27.7 49, 122 47, 531 46, 648 44, 359 Exports, timber M ft. b. m._ 74 1,071 i 261 10, 950 +310. 3 162 58 7,758 Price, flooring dolls, per M ft. b. m.. 41. 31 40.81 40.04 49.84 -1.9 43.54 49.43 43.02 Douglas fir: Production M ft. b. m 601,191 i +24.6 564,036 503, 603 419, 893 410,045 510,766 ! 461, 077 Shipments (computed) .. M ft. b. m__ 517, 928 457, 943 405, 121 411,836 485,698 522, 405 577,465 | +17.9 New orders M ft. b. in 516, 138 567, 169 590,895 i +12.5 511, 661 512, 556 401, 987 458, 839 Exports, lumber M ft. b. m__ 47, 794 53,944 61,340 '• +12.3 48, 025 63, 801 55, 017 25, 137 Exports, timber. M ft. b. m_. 22.994 46, 442 26,449 33,571 !! -13.1 32, 708 56, 042 30, 081 Price, No. 1 common-dolls, per M ft. b, rn__ 16. 89 17.19 16.00 +4.6 16.43 17.16 16.23 15. 50 Price, flooring, 1 x 4, "B" and better, V. G.<* M ft. b. m._ 35.92 40.09 -0.4 36. 24* 40.23 37.91 37.41 36.06 California redwood: Production (computed) M fc. b. m,. 40, 463 30,852 32, 099 41, 846 +1.3 49, 906 32,511 40, 965 Shipments (computed) _M ft. b. m__ 24, 043 37,061 33, 489 33, 709 +3.4 39, 742 47, 116 35, 851 Orders received (computed) M ft. b. m.. 49, 886 32, 014 40, 121 39, 648 -5.8 46, 259 42, 600 44, 832 California white pine: Production M ft. b. m._ 138, 768 100, 885 81, 226 55, 821 44, 247 47, 839 53,978 • -20.7 Shipments . M ft. b. m 89,293 75, 706 73, 874 111,987 91,759 ! -2.4 109, 915 91, 472 Stocks, end of month M ft. b. m._ 659, 171 674, 249 690, 157 591, 017 .560, 748 573, 264 540,585 ! -5.1 Western pine: Production (computed) M ft. b. m._ 153, 716 +9.4 88, 122 i 69, 113 75, 595 82, 765 95, 217 125, 685 Shipments (computed) _..M ft. b. m._ 162, 282 112,917 i 114,579 116,861 i 120, 095 125, 251 +2.0 130, 469 Stocks, end of mo. (computed) _M ft. b. m.. 1, 150, 089 1, 142, 636 1, 127, 426 11,069,835 1,041,346 i 1,120,036 1 , 099, 644 -2.7 North Carolina pine: ! Production (computed) . M ft. b. m 48, 797 47,712 51, 639 38, 584 53, 711 50,050 Shipments (computed) M ft. b. m _ _ 45, 367 49, 700 47, 054 54, 019 47, 271 40, 550 Northern pine: LumberProduction M ft. b. in.. 35, 825 31, 546 +8.1 27, 693 1 32, 493 35, 127 25, 649 52, 296 Shipments M ft. b. ni 33, 603 39, 043 +10.0 28, 115 40, 933 39, 452 30, 557 50, 396 New orders M ft. b. m.. 29, 184 41,399 25, 550 32, 393 36, 128 +11.0 41,460 24, 677 Lath— Production M ft. b. in 6,372 8,282 7, 251 7,338 13,050 9, 246 +1.2 5, 729 Shipments M ft. b. in 7,795 4, 668 8,148 +24.5 4, 342 6, 261 8,690 9,796 Northern hemlock: Production M ft. b. m 13, 602 ; 19, 811 16, 633 15, 504 15, 024 16, 301 Shipments M ft. b. m 12, 752 14, 474 14, 152 15, 445 17,797 19,500 -7.0 -20.8 -15.1 +8.3 +4.1 -90.2 ! -19.7 -15.0 -15.9 —12.7 -12.1 -31.5 +7.4 -10.4 ! | | +11.4 -13.9 -10.3 67,371 i 79, 976 77, 527 67,620 64, 160 61, 577 +0.4 -19.8 -19.8 -11.4 -4.3 17, 528 16, 838 14, 589 14, 056 -16. 8 -16.5 Hardwood Lumber Walnut lumber: Production M ft. b. m 2,320 Shipments _M ft. b. m 3,688 Stocks, end of month M ft. b m 12,503 Walnut logs: Purchased M ft. log measure __ 1,833 Made into lumber and veneer .. _ _ _ M ft. log measure.. 2,143 Stocks, end of month M ft. log measure.. 1,941 Northern hardwoods: Production M ft. b. m._ 13,034 Shipments _M ft. b. m._ 29, 247 All hardwoods: Production (computed) M ft. b. m_. 93,000 Shipments (computed) M ft. b. m__ 101,000 Orders (computed) M ft. b. in.. 100,000 Total stocksTotal hardwoods M ft. b. ni-_ 884, 608 Gum__ M ft. b. m_. 224, 008 Oak M ft. b. m_. 301,135 Unsold stocksTotal hardwoods M ft. b. m__ 673, 856 Gum M ft. b. m _ _ 164, 309 Oak. M ft. b. m_. 227, 982 TJji filled orders — Total hardwoods M ft. b. m.. 242, 254 Gum . M ft. b. m , 73, 184 Oak . M ft. b. m 82, 185 3,143 3, 624 19, 071 3, 156 3, 627 18,010 i 2, 076 2,559 i ! 2,073 1, 208 2,393 1,485 38, 053 25, 178 ! i 48,395 32, 696 51, 856 ' 33, 866 82,000 79,000 74,000 84,000 84, 000 90,000 84,000 94,000 ! 100,000 81,000 85,000 87,000 85,000 92, 000 100, 000 0.0 +11.9 +11.1 -1.2 +2.2 0.0 897, 818 231, 160 308, 099 921, 875 242, 602 315, 826 898, 606 238, 364 304, 723 862, 624 228, 621 304, 766 765, 431 212,922 244, 137 783,215 226, 818 246, 619 -4.0 -4.1 0.0 +10.1 +0.8 +23.6 690, 785 168 703 235, 911 718, 373 176, 443 255, 457 698, 475 168, 645 252, 811 663, 146 162, 053 242, 949 592, 772 161, 851 188,963 607,117 174,314 186, 202 —5.1 -3.9 -3, 9 +9.2 -7.0 +30.5 239, 059 76, 790 79, 739 234, 651 78, 594 67, 841 232, 338 83,627 59, 143 230, 731 79,605 68, 816 204, 771 68,190 60, 433 216, 186 74, 488 66, 670 -0.7 -4.8 +16.4 +6.7 +6.9 +3.2 Production, 10 species M ft. b. m_. 2, 468, 949 2, 279, 825 2, 108, 796 2, 075, 877 2, 148, 964 2, 254, 461 2, 470, 531 Exports, planks, joists, etc M ft. b. m.. 121, 116 164,263 166,080 178, 697 156, 720 153, 607 155, 726 Retail yards, Minneapolis district: 1 Sales _ M ft. b. m._ 6,134 20, 664 14, 697 6, 055 7,207 6, 061 8, 112 Stocks, end of month _M ft. b. m 89, 444 100, 202 94,830 103, 928 i 101, 041 104, 520 88, 276 Composite lumber prices: Hardwoods dolls, per M ft. b. m _ 41.11 40. 93 41. 15 41.15 41.08 42.60 43.79 Softwoods dolls, per M ft. b. m_. 29.74 29.98 30.79 30.28 29.76 31.32 29.78 i Revised. +3.5 -14.0 -13.0 -2.0 4, 724, 992 312, 446 -1.2 +3.7 -15.9 -0.6 15,319 -0.1 +0.1 -6.2 -5.0 2,378 3, 310 11, 591 2,996 2,502 12, 202 2,273 2,335 1,754 2,417 2,809 11, 810 I 2,462 2,441 2,357 1,907 2,088 2,260 11,394 26, 153 15, 578 22, 227 90,000 91,000 92,000 i Total Lumber 4,224,841 1 -10.6 332, 304 i +6.4 12, 195 -20.4 38 TREND OF BUSINESS MOVEMENTS—Continued 1927 1926 1926 The cumulatives shown are through February* Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" Decem- January ber Feb., 1927, from Jan., 1927 January 9,842 7,880 29, 034 6,587 6,224 8,888 8,085 29, 710 6,405 6,847 8,922 7,143 29, 314 8,264 10, 401 7,845 6,526 30, 447 7,083 10, 762 -9.7 +13.3 +2.6 +23.9 +2.3 -2.4 -2.8 -9.6 +10.0 -36.4 37,489 30, 504 67,079 34, 595 35, 995 35, 215 31, 929 70, 629 37, 497 41,061 35, 601 34, 925 70,090 39, 133 45, 275 45, 171 41,498 48,244 34,446 54, 161 44, 540 37, 708 54,362 33, 411 49, 599 +1.1 +9.4 -0.8 +4.4 +10.3 -20.1 -7.4 +28.9 +17.1 -8.7 58,183 67,016 48, 563 46, 819 41,957 73, 694 .48, 936 65, 131 63, 161 79, 602 42, 207 72, 763 +16.0 -11.6 +15.9 -10.5 31 33 31 34 28 15 25 46 25 19 27 53 28 23 0.0 '-10.7 -68.7 -17.4 62 60 42 57 49 82 78 -14.0 -37.2 61 13.5 102 61 12.0 102 56 31.0 100 52 6.0 98 55 14.0 100 51 4.5 100 54 +5.8 9.0 +133. 3 98 +2.0 +1.9 +55.6 +2.0 16, 891 13, 557 10, 469 8,427 8,580 13, 592 11,086 +1.8 -22.6 8,649 6,663 2,600 3,490 2,921 3,892 3,353 -16.3 -12.9 14, 716 18, 709 15, 533 20, 474 14,300 17, 763 7, 259 9,347 8,255 10, 601 10, 997 10, 158 10, 757 13, 186 +13.7 +13.4 3,882 3,786 3,791 3,625 2,913 3,891 3,219 3,348 3,711 2,991 3,763 3,938 4,232 4,341 4,807 4,548 3,579 3,591 3,587 5,972 111 184 231 214 82 151 59 116 72 70 222 November 11,616 11, 961 31,314 7,115 8,580 12, 152 9,765 33, 619 6,171 7,350 11,760 9,541 35,483 7,071 7,669 45,056 42, 859 55, 273 37, 767 35, 578 40, 029 34, 501 60, 145 33, 827 32, 603 63, 560 72, 215 February ARY 28 Feb., 1927, from Feb., 1926 February October CUMULATIVE TOTAL FROM JANUARY 1 TfiROUGfi FEBRU- PEE CENT INCREASE (+) OR DECREASE (-) Pefct. increase (+) of decrease (-) cumulative 1927 from 1926 1926 192? 16, 767 13> 669 18,730 15, 965 +11.7 +16.8 15, 347 12, 992 -15.0 89, 711 79, 206 70, 816 66,854 -21.1 -15.6 67, 857 76, 630 +12.9 95, 368 90, 893 -4.7 24, 678 17,007 -31.1 -23.3 -19.6 21,754 23, 344 15,514 19, 948 -28.7 -14.5 +15.3 -10.7 -12.3 -31.1 7,995 8,279 6,930 6,339 -13.3 -23.4 6,130 -0.9 -41.5 146 +22.0 —39.7 -50.7 368 131 -64.4 sets _ 862, 800 752, 557 724, 085 478, 750 734,735 205,738 358,733 sets.. 965, 924 697, 679 860, 875 573, 967 801, 221 632, 542 591,912 sets 1,159,314 534, 616 630, 909 559, 337 525, 102 371, 689 431, 569 sets.. 2, 753, 279 2,577,303 1,374,498 1, 993, 216 1, 812, 076 1,023,457 970, 130 .sets.. 2, 993, 355 3, 069, 088 2, 977, 129 2,924,016 3, 035, 957 1,475,275 1, 794, 937 +53.5 +39.6 -6.1 -9.1 +3.8 +104.8 +26.7 +21.7 +86.8 +69.1 564, 471 1,224,454 803,258 +14. 5 +49.3 +14.9 +19.8 +17.6 +12.9 +19.2 -15.5 1,060 724 1,049 703 39,499 20, 133 24, 567 12,643 -37.8 -37.2 24,438 495 16,603 243 -32.1 -50.9 502, 596 458, 431 335,629 544, 689 -33.2 +18.8 LUMBER PRODUCTS— Continued Flooring Maple flooring: Production M ft. b. m Shipments M ft. b. m Stocks, end of month M ft. b. m__ New orders M ft. b. m__ Unfilled orders, end of month._M ft. b. m._ Oak flooring: Production M ft. b. m Shipments M ft. b. m__ Stocks, end of month M ft. b. m__ New orders M ft. b. m__ Unfilled orders, end of month.. M ft. b. m.. ! Wooden Furniture Household furniture and case goods: Shipments.-dolls., average per firm.. Unfilled orders dolls., average per firm.. Grand Rapids district: Shipments No. of days' production.. New orders -No. of days' production.. Unfilled orders, end of month No. of days' production.. Outstanding accounts, end of month.. No. of days' sales . Cancellations per cent of new orders.. Plant operation per cent of full time.. Piano benches and stools: New orders (av per firm) dollars Unfilled orders, end of month (av. per firm).dollars.. Shipments— Value (av. per firm) dollars Quantity (total) pieces. . Plywood and Veneer Plywood: New orders thous. of sq. ft. of surf ace. . Shipments , -thous. of sq, ft. of surface. . Unfilled orders, end of month thous. of sq. ft. of surface.. Rotary-cut veneer: Purchases number of carloads. . Receipts .number of carloads.. Barrel Headings Circled headings for wooden barrels: Production (rough) __ Shipments (finished) New orders (finished) Unfilled orders, end of month Stocks on hand, end of month 1, 213, 485 +115. 0 1, 375, 188 +12.3 1,084,439 +35.0 STONE, CLAY, AND GLASS PRODUCTS Clay Products Face brick, averages per plant: Production thousands 753 Shipments ... .thousands 861 Stocks, end of month. __ thousands __ 2,084 Unfilled orders, end of month.. thousands.. 863 Common brick: Stocks, end of month— Burned thousands.. 286, 952 Unburned thousands. . 58, 388 Shipments thousands.. 135, 824 Unfilled orders, end of month, .thousands. . 213,092 Plants closed down_ number.. 16 Price, red, New York dolls, per thous.. 15.50 Paving brick: Production, actual. .. thousands 23,224 Shi pments thousands 26, 852 Stocks, end of month thousands.. 70,857 Orders received . thousands 20, 712 Cancellations thousands. _ 255 Unfilled orders, end of month. .thousands.. 62, 474 Operations, relation to capacity per cent.. 61 Sand lime brick: Production thousands.. 16, 178 Shipments by rail thousands.. •4,890 Shipments by trucks thousands.. 12, 344 Stocks, end of month thousands.. 8,613 Unfilled orders, end of month, .thousands. _ 19,325 Vitreous china plumbing fixtures: Orders received pieces,. U52,351 Shipments pieces.. 1 258, 004 Unfilled orders, end of month pieces.. i 417, 984 Stocks, end of month ^...pieces.. i 497, 150 i Revised. 716 542 2,104 741 610 338 2,241 673 489 282 2,409 727 451, 563 182, 716 217, 740 274, 850 21 12.25 453, 452 88,997 149, 315 311, 979 64 15.50 18,516 20,711 63,207 12,874 2,999 51,606 13, 815 10, 681 65, 800 10,003 109 50, 701 560 421 2,767 871 584 351 2,310 912 476 373 2,322 1,031 462, 565 58,331 93, 806 324,837 68 17.00 17.00 324, 203 58, 399 108, 688 259, 158 32 16.00 355, 139 60,014 110,866 262,481 30 17.00 0.0 0.0 11, 665 7,142 64, 893 11,964 188 55,869 12, 902 5,501 71,640 4,639 55 55,982 19,329 10, 237 111, 431 11,454 344 48, 722 20, 170 9,896 115, 977 12,984 151 51,573 +10.6 -23.0 +10.4 -61.2 -70.7 +0.2 -36.0 -44.4 -38.2 -64.3 -63.6 +8.5 50 52 +10.0 -57.7 53 36 20 22 16,923 6,363 10,240 8,953 18. 150 12, 049 3,825 7,401 11, 583 7,701 8,307 i 3, 939 i 5, 438 117,032 17,908 9,577 5.185 6,418 13, 215 12,580 i 406, 956 i 208, 076 1616,864 i 524, 937 167,752 206, 199 578,251 i 570, 069 1 190, 769 i 279, 299 i 497, 700 i 559, 259 144,860 265,390 377, 170 545, 769 -1.0 -2.9 +15.3 +31.6 +18.0 —22.4 —29.8 271, 957 230,507 527, 381 444. 664 230, 639 227, 924 530,096 443, 043 -24.1 -37.2 -5.0 +16.4 -24.2 -28.8 -2,4 +23,2 39 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulatives shown are through February. Earlier data for items shown here may be found on page* 26 to 134 of the February, 1927, "Survey" 1927 Decem- January ber October Novem* ber 5,817 1,987 5,242 8,467 5,457 1,895 4,969 8,545 1.877 4,936 8,776 5,514 1,648 4.331 10, 010 15, 151 1,579 10, 690 1,221 10, 414 1,165 9,861 1,138 1C, 596 17,486 13, 334 14, 193 11,276 16, 243 10, 744 6,432 20,616 1.65 1.65 1.65 1.65 1.65 1.65 7,528 4,224 5,595 3,231 21, 948 1,090 11,607 PER CENT INCEEASE (+) OE DECREASE (— ) 1926 February January February Feb., 1927, from Jan., 1927 Feb., 1927, from Feb., 1926 Perct. CUMULATIVE TOTAL" iinFEOM JANUAEY 1 creas THROUGH FEBRU( ARY 28 or1? decrease (-) cumulative 1926 1927 1927 from 1926 STONE, CLAY, AND GLASS PRODUCTS— Continued Clay Products— Continued Floor and wall tile: Production . thous. of sq. ft.. Shipments, value thous. of dolls Shipments, quantity thous. of sq. ft Stocks, end of month thous. of sq. ft.. Architectural terra cotta, new orders: Quantity net tons Value... ..thous. of dolls.. 6,311 4,957 1,620 4,287 i 7, 555 4,829 1,564 4,165 17,649 7,910 873 13, 342 1,645 10, 742 1,402 -19.7 -23.3 -26.4 -37.7 24, 087 3,047 17, 761 2,011 -26.3 -34.0 7, 368 6,726 23, 556 7,887 5,674 20, 582 7,731 5, 820 22, 385 -10.8 +12.7 +2.8 -6.7 +15. 6 +5.2 15,618 11,494 15, 626 12, 694 +0.1 +10.4 1.64 1.63 1.60 1.55 1.65 1 . 75 1.65 1.75 -2.4 -4.9 -3.0 -11.4 6,797 3,518 4,236 2,656 4,391 2, 336 3,629 2,161 5,012 2,727 +3.7 -12.0 -12.4 -14.3 8,641 4,888 8,627 4,992 -0.2 +2.1 29, 768 1,128 10, 478 26, 298 951 10, 047 8,115 508 9,839 5,385 491 9,599 12, 110 386 10, 838 11,837 492 10, 803 -33.6 -3.3 -2.4 -54.5 -0.2 -11.1 23, 947 878 21, 641 13, 500 999 19, 438 -43.6 +13.8 -10.2 11,186 9,705 7,344 8,484 9,790 10, 729 10, 544 +15.4 -7.2 21, 273 18, 274 -14.1 2,321 79.7 2,421 1,980 5,408 7,958 2,143 72.3 2,553 1,693 5,822 8,714 2,045 69.0 2,414 1,592 6,315 9,453 2,032 71.3 2,725 1,803 6,541 10, 274 1,942 70.8 2,853 1,867 6,646 11, 219 2,005 73.3 2,804 1,704 5,906 9,654 1,834 72.6 2,166 1,744 5,982 10, 017 -4.4 -0.7 +4.7 +3.5 +1.6 +9.2 +5.9 -2.5 +31.7 +7.1 +11.1 +12.0 3,839 3,974 +3.5 4,970 3,448 5,578 3,670 +12.2 +6.4 3,956 52.6 46.9 47.7 3,879 50.0 40.2 47.2 2,948 35.6 35.5 40.5 2,620 37.2 48.2 40.7 2, 975 38.0 40.8 38.3 2,996 41.8 45.9 42.2 -11.1 +4.5 +35.8 +0.5 -2.6 11.0 +5.0 -3.6 5,971 5,568 +6.7 1.2 3.6 1.0 3.7 0.6 3.7 1.1 3.6 1.4 6.3 1.1 6.3 +83.3 -2.7 0.0 -42.9 867 .75 997 .70 668 .70 +67.1 0.0 +29.8 +7.1 1,665 1, 386 -16.8 Portland Cement Production Shipments Stocks end of month Wholesale price: Chicago district I/ehigh Valley ..thous. of bbls_. thous. of bbls._ thous of bbls dolls, per bbl dolls, per bbl 1 8, 258 i 5, '968 i 22, 914 Highways Concrete pavements, new contracts: TotaL thous. of sq. yds.. Roads ..-.thous. of sq. yds.. Federal-aid highways: Completed— Cost thous. of dolls.. Distance _ . . _ . . ._ . _ miles Under construction, end of month _ _ miles ._ Plate Glass Production, polished thous. of sq. ft_. Glass Containers Actual production: Quantity _ _. . Relation to capacity New orders . Shipments Stocks, end of month Unfilled orders, end of month gross per cent gross gross.. gross gross.. Hluminating Glassware Production: Total _ number of turns 3,565 Ratio to capacity per ct. of capacity 50.9 New orders per ct of capacity 49.6 Shipments _ per ct. of capacity . 49.4 Unfilled orders, end of month _ number of weeks' supply 1.4 Stocks, end mo number of weeks' supplv.. 3.5 CHEMICALS AND OILS Chemicals Sulphuric acid: Exports thous. of lbs__ 591 519 639 260 Price wholesale, 66°, N. Y_ dolls, per 100 lbs__ .75 .75 .75 .75 Nitrate of soda: Imports . . . long tons 51, 448 47,503 63, 660 47, 240 Production in Chile— Quantity metric tons 127,082 111,283 86, 731 79, 151 Units reporting number of plants 36 40 25 30 Potash, imports long tons.. 28, 341 34, 411 29, 347 30, 189 Acid phosphate: Production short tons 267, 475 272, 571 289, 095 309, 033 Stocks, end of month short tons.. 1, 352, 440 1,635,805 2, 191, 725 2, 301, 672 Fertilizer: Consumption in Southern States _ . _ short tons 119,165 79, 693 103, 048 526, 471 Exports long tons 73, 384 73, 993 67, 678 70, 466 Dyes and dyestuffs, exports: Vegetable thous. of lbs_. 162 209 177 227 Coal-tar thous. oflbs.. 2,672 2,104 2,220 1,865 Price index numbers: Crude drugs index number . 211 215 203 203 Essential oils index number__ 148 143 135 126 Drugs and pharmaceuticals.index number.. 156 156 155 156 Chemicals.. index number.. 114 114 114 114 Oils and fats index number.. 136 134 129 128 1 Revised. 33, 578 103, 627 156, 354 -28.9 -78.5 259, 981 80, 818 -68.9 18, 394 235,000 89 28, 365 220,000 88 25, 632 -39. 1 -28.2 53, 997 48, 583 -10.0 +59.0 +64.3 -37.7 +19.1 1, 993, 865 153, 486 1,363,381 178, 868 -31.6 +16.5 +11.5 +100: 8 +58.2 +83/2 341 3,163 480 4,816 +40.8 +52.3 354, 405 336, 150 2, 236, 010 2, 140, 710 836, 910 111, 190 651, 169 '1,342,696 93, 365 60, 121 253 2,951 215 1,552 126 1,611 204 125 155 113 137 193 218 156 114 155 200 202 156 112 149 +0.5 -0.8 0.0 -0.9 +7.0 +2.0 -38.1 -0.6 +0.9 -8.1 | 40 TREND OF BUSINESS MOVEMENTS—Continued I 1926 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" October November 1927 Decem- January ber February January February Feb., 1927, Feb., 1927, Jan., 1927 Feb., 1926 from Per ct. increase ( } or tdecrease (-) cumulative 1927 rom 1926 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 PER CENT INCREASE (+) OR DECREASE (— ) 1926 from 1926 1927 CHEMICALS AND OILS-Continued Wood Chemicals Acetate of lime: ProductionUnited States.. thous. of Ibs Canada thous. of Ibs... ShipmentsUnited States thous. of Ibs.. Canada thous. of Ibs Stocks, end of monthUnited States thous. of Ibs Canada . thous. of Ibs "Exports thous of Ibs Price, wholesale . dolls, per cwt Methanol, crude: ProductionUnited States _ gallons.. Canada ..gallons.. Stocks at crude plants, end of monthUnited States gallons.. Canada gallons. _ Stocks at refineries and in transitUnited States gallons.. Canada gallons.. Exports.... gallons.. Price, wholesale, N. Y dolls, per gal.. Wood: Consumption— United States.. . . ..cords Canada . cords.. Stocks, end of month— United States. ._ cords. Canada.. cords.. Methanol, refined: ProductionUnited States gallons.. Canada gallons.. Stocks, end of montli— United States _ gallons.. Canada gallons.. '" 14,002 -2.2 -11.3 27, 330 2,174 26,808 l 2,012 : -1.9 -7.5 -10.0 I -71.9 21, 864 1,100 19,540 659 -10.6 -40.1 1,901 2, 166 +16. 5 897 14, 100 921 13,468 1,084 14, 181 1,116 12,627 ! 896 14, 425 1,164 12,905 1 -11.0 1,010 -19.7 16, 013 634 15,510 1,228 14. 187 1, 376 10,067 509 9,473 150 11, 339 566 10, 525 534 -5.9 -70.5 17, 746 1,441 1,125 3.25 16, 328 1,149 1,797 3.38 16, 421 1,440 675 3.50 i 19, 910 2, 025 1,630 3.50 22,298 3,163 500 3.50 19, 261 1,297 1,286 3.25 21, 715 1,836 615 3.25 +12.0 -69.3 0.0 -18.7 +7.7 712, 309 37, 196 720, 798 38, 520 733, 678 45, 946 755, 473 46, 335 630,583 ! 36, 031 752, 292 45, 917 683, 707 42, 705 -16. 5 -22.2 1,435,999 -7.8 88,622 -15. 6 | 442, 998 46, 621 463, 049 31,947 278, 219 35, 585 397, 999 32, 761 340, 847 1, 400, 994 1, 176, 337 38, 984J 48, 787 48, 830 151, 326 30, 293 24, 977 .74 144, 136 18,947 29, 869 .75 207, 682 15, 369 8,704 .81 341, 444 15,913 11,012 .83 613, 939 19,657 16, 226 .83 73, 895 4,513 73, 701 4,732 70, 653 9,334 80,233 5, 596 485, 022 42. 341 473, 964 38, 129 502, 482 37, 569 618, 284 29, 200 623, 544 37, 500 531, 764 32,645 480, 448 35, 290 279, 781 40, 631 235, 516 43, 964 278, 734 49, 492 436, 656 58, 596 20.530 18, 809 11,436 17, 640 18, 696 9, 913 15, 622 18, 108 6,868 13, 235 8,907 3,563 40, 670 40, 951 39, 311 16, 854 39, 628 41, 475 37, 913 15,126 36, 143 34, 317 33, 159 17, 145 . 33, 846 33, 726 33,616 17,3<« 32,216 25, 885 29, 143 7,386 5,138 6,512 4,681 -30.4 +9.8 57, 370 63, 736 13, 069 63, 650 70, 788 12, 685 58, 321 63, 835 13, 228 48, 993 53, 098 8,794 40, 047 44, 907 54,304 7,303 37, 647 46, 719 4,807 -18.3 +6.4 .90 .89 .86 .83 .75 1.07 1.00 -9.6 -25.0 114, 120 107, 801 122, 847 39, 136 27, 214 36,466 31, 082 -30.5 -12.4 158, 210 166, 703 74, 445 184,405 203, 744 90, 163 208, 789 229, 189 92,860 160, 120 179, 943 84, 261 147, 635 199,121 218, 726 93, 318 169, 140 196, 157 78, 704 -7.8 -12.7 -5.4 -12.2 +2.7 i +56.2 +72.3 1,386,056 i 82,366 i -3.5 -7.1 -14.4 -71.0 \ +19.0 -20. 2i 656, 565 40, 096 70, 254 .58 685, 995 29, 478 39, 270 .58 +79.8 68,972 i 4,466 77, 239 6,220 i 492, 811 i 453, 040 33, 272 28,806 j +23. 5 -10.5 -33.3 +47.3 -58.7 109, 524 0.0 +43.1 71, 568 5,326 -14. 0 -20.2 -3.6 -i6.i ; 148, 807 11, 546 534, 311 62, 791 524, 411 58, 985 -8.1 -13.4 -13.6 -51.2 305, 479 37, 070 642, 397 31, 545 532, 309 38, 070 -36.4 +5.0 -42.6 -2.6 426, 736 64,719 637,300 60, 704 636, 699 69, 371 -2.3 +10.4 -33.0 -6.7 16, 350 17, 712 3,871 12, 765 9,407 5, 801 i 29, 788 30, 075 29, 717 2 16, 447 33, 886 32, 370 29,335 16, 777 27,328 -75.6 | 149,205 +0.3 10,062 ! -12.9 1, 174, 706 69, 615 785,927 j -33.1 72,360 +3.9 i Ethyl Alcohol Production _ thous.of gals.. Withdrawn for denaturation thous. of gals.. Warehouse stocks, end of month. thous. of gals.. I *" Explosives (Black powder, permissibles, and other high explosives) Production Shipments New orders Stocks, end of month thous. of Ibs thous. of Ibs. _ . _ .thous. of Ibs .thous. of Ibs.. t, il" Naval Stores Turpentine (gum): Net receipts, southern ports barrels.. Stocks, end of month— At three ports ._ ._ barrels.. At five ports barrels.. At stills barrels.. Price, southern, in barrels, New York dolls, per gal_. Rosin (gum): * Net receipts, southern ports barrels.. Stocks, end of month— At three ports barrels. At five ports barrels.. At stills ....barrels-Price, common to good (B), New York dolls, per bbl__ Turpentine (wood): Production barrels.. Stocks, end of month... barrels.. Rosin (wood): Production _ barrels.. Stocks, end of month barrels. _ Pine oil: Production barrels.. Stocks, end of month barrels,. Roofing Roofing felt: Production, dry felt tons.. Stocks, end of month, dry felt tons.. Prepared roofing: Shipments . thous. of roof squares Total vegetable oils and copra: Exports thous. of lbs_. Imports thous. of Ibs. .i * Revised. 11, 193 +11.9 12, 524 I |l 67, 548 66, 350 -1.8 13.86 13. 08 12.24 12.38 11.71 14.34 13.33 34, 161 17, 702 33, 373 22, 831 32,864 27, 736 35, 168 33, 513 32,043 45, 124 20,470 16, 431 18, 945 21,699 +69.1 +34.6 +108. 0 39, 415 67, 211 +70.5 6,046 3, 426 6,612 3,773 6,499 4,911 7,053 5, 531 6, 587 7, 314 4,362 3,468 3,930 2,670 -6.6 +67.6 +32.2 +173. 9 8,292 13,640 +64. 5 263, 696 259, 670 238, 322 239, 017 220, 827 254, 259 241, 563 305, 151 207, 197 313,457 135, 135 674, 097 125, 247 645, 441 -14.2 +2.7 +65. 4 -51.4 260, 382 448, 760 +72.3 27, 636 3,426 22, 013 3,246 17, 857 3,545 19, 266 3,628 19, 669 4,045 18, 195 4,641 17, 829 4,279 +2.1 +11.5 +10.3 -5.5 36, 024 38,935 +8.1 3,495 2,441 2,115 +20.4 -17.6 3,752 3,096 -17.5 +21.1 +19.3 -26.4 -33.8 14,543 115,404 15, 402 90, 165 +5.9 -21.9 -8.9 ! 2,668 ' 50,449 i 5, 336 ' • 6,862 67,086 \ 47, 533 1,405 1,691 1, 099 2,053 6,967 51, 953 i 8,435 38, 212 7,470 57, 657 7,073 57, 747 41 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" October November Decem- January ber PER CENT INCREASE (+) OR DECREASE (— ) me 19 27 February January Feb., 1927, from Jan., 1927 February Feb., 1927, from Feb., 1926 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 1926 1927 Per ct. increase (+) or decrease (-) cumulative 1927 from 1926 CHEMICALS AND OILS-Continued Roofing— Continued Oopra, imports _ short tons.. Copra or cocanut oil: Imports. -. _ _ thous. of Ibs. . Consumption in oleomargarine. thous. of Ibs . Oleomargarine: Production __thous. of lbs_. Consumption thous. of Ibs 19, 813 21, 793 20, 015 19, 681 12, 277 15, 080 12, 020 -37.6 +2.1 27,100 31, 958 +17.9 21,219 33, 713 25,400 31, 588 16, 153 21,377 21,644 -48.9 -25.4 43,021 47, 741 +11.0 -11.8 8,895 9,850 10, 611 9,837 9,679 9,327 8,132 -1.6 +19.0 17,459 19, 516 21, 766 21, 766 23,428 23, 800 24, 798 24, 530 22, 748 21, 859 22, 345 20, 356 22, 585 21, 501 20,721 21,481 -1.8 -6.9 +7.8 -5.2 43, 306 42, 982 45, 093 42, 215 +4.1 -1.8 486, 190 472, 760 691, 327 790, 679 818, 528 1, 098, 364 308,026 662, 141 744,246 -14.4 +57.8 -20.6 +4.4 -20.5 +10.0 780, 786 1,054,380 1,452,820 1, 561, 783 +35.0 +7.5 204,058 155, 680 226, 231 129, 743 191,818 121, 579 -20.3 +6.4 -9.7 +28.0 418, 049 460, 088 +10.1 201, 767 460, 722 180, 038 204, 397 160, 652 260,452 -1.9 +25.6 +15.9 +76.9 340,690 407, 516 +19.6 .09 .11 .11 -21.3 Cottonseed Cottonseed: Receipts at mills short tons i, 508, 357 1,222,493 834, 925 568, 190 Consumption (crush) short tons _ 938,476 980, 321 932, 726 870,456 Stocks at mills, end of month _ _ short tons.. 1, 146, 792 1, 387, 387 1, 291, 912 1, 029, 646 Cottonseed oil, crude: Production thous. of lbs._ 284, 229 296, 197 275, 127 256, 030 Stocks, end of month thous. of lbs_. 104, 778 131, 035 155,455 172, 358 Cottonseed oil, refined: Production thous. of lbs__ 213, 255 237, 599 229, 142 205, 749 Stocks, end of month _ _ thous. of lbs._ 132, 578 232, 983 332, 344 397,432 Price, yellow, prime, New York _ dolls, per Ib .09 .09 .08 .08 Consumption in oleomar2,091 2,013 garine ...thous. of lbs_2, 158 2,008 Cottonseed cake and meal: Production. _. .short tons.. 419, 784 438,410 416, 246 386, 182 Stocks, end of month short tons . 172, 566 176, 006 166, 535 147,250 74, 114 Exports . short tons 81, 099 47, 547 93, 198 Flaxseed Minneapolis and Duluth: Receipts... ___ _.thous. of bushs.. Shipments.. thous. of bushs Stocks, end of month thous. of bushs _ Imports _ thous. of bushs.. inseed oil: Shipments from Minneapolis.thous. of Ibs. . Price, New York .dolls, per lb_. Linseed cake and meal: Shipments from Minneapolis. thous. of lbs_. Exports thous. of lbs._ 0.0 —18.2 2,705 -0.3 -25.8 5,112 4,019 366,294 317, 342 68,907 310, 119 357,495 25,047 -18.8 +1.1 +4.3 —57.0 -23.8 +146. 6 676,413 699, 706 +3.4 93,954 142,874 +52.1 892 742 1,163 958 +30.4 +29.1 2,006 2,407 313, 524 153, 639 61, 775 6,144 1,644 3,102 2,952 2,811 1,671 3,569 2,568 1,402 1,405 2,694 1,190 704 540 2,372 2,237 459 418 2,073 1,327 513 320 2,026 1,301 379 422 1,719 1,780 -34.8 +21.1 -22.6 -0.9 -12.6 +20.6 —40.7 -25.4 3,081 3,564 +15.7 11, 669 .108 8,725 .108 8,756 .107 9,660 .105 8,301 .104 12,401 .117 10,545 .113 -14.1 -21.3 -1.0 -8.0 22,946 17,961 -21.7 30, 436 55, 950 23, 808 40, 916 22, 581 48, 868 20,682 61, 103 18,488 54, 322 26, 581 71,496 20, 330 61, 571 -10.6 -9.1 -11.1 -11.8 46, 911 133, 067 39, 170 115, 425 -16.5 -13.3 77, 714 83, 719 37, 137 24,427 78, 412 119, 790 29, 754 23, 422 68, 125 117, 796 22, 405 17, 376 59, 731 116, 613 24, 595 13, 757 58, 454 115, 350 20, 952 10, 413 49,473 111, 121 21, 640 12, 358 44,686 106, 748 16, 188 9,874 -2.1 +30.8 -1.1 +8.1 -14.8 +29.4 -24.3 +5.5 37, 828 22, 232 45,547 24, 170 +20.1 +8.7 17, 589 23, 821 14, 280 20,277 9,536 14, 793 8,078 12, 619 4,889 8,822 2,411 5,452 1,700 i -39.5 +188. 1 i 4, 613 1 -30.1 +91.2 4,111 10,065 12, 967 +215. 4 21,441 +113. 0 30, 573 34, 907 43, 947 49, 626 44, 879 48, 862 12, 571 16, 054 11, 422 13, 199 16, 426 27,273 23, 993 +3.1 1.44 1.40 1.39 1.38 1.44 1.40 1.45 1.37 1.40 1.37 1.84 1.87 14, 074 -9.1 -18.8 17, 791 i -3.4 -20.9 1.77 1.85 0.0 -25.9 1,323 1,883 +42. 3 FOODSTUFFS Wheat Visible supply, end of month: United States thous. of bushs.. Canada.. thous. of bushs.. Receipts, principal markets... thous. of bushs.. Shipments, principal markets-thous. of bushs. . Exports: United StatesWheat only. thous. of bushs. _ Including wheat flour.thous. of bushs.. CanadaWheat only thous. of bushs Including wheat flour.thous. of bushs.. Prices: No. 1, northern, Chicago, .dolls, per bush No. 2, red winter, Chicago. dolls, per bush.. Wheat Flour Grindings of wheat: United States (census) thous. of bushs.. 48, 727 Canada thous. of bushs.. 10, 029 Production: United States, actual (census) .thous. of bushs 10, 678 United States, prorated (Russell) .thous. of bbls _ 13, 029 Canada thous. of bbls_. 2,231 Production, grain offal... thous. of lbs__ 834,908 Capacity operated, flour mills.. per cent.. 63 Consumption, wholesale, (computed) _ _ thous. of bbls.. 11, 444 Stocks, all positions, end of <* month (computed) thous. of bbls.. 8,700 Exports: United States . . . thous. of bbls 1,385 Canada. thous. of bbls.. 963 Wholesale prices: Standard patents, Minneapolis dolls, per bbl.. 7.94 Winter straights, Kansas City dolls per. bbl.. 6.94 i Revised. i 43, 922 9,495 * 40, 624 7,777 9,618 39, 256 6,819 40, 358 6,347 34, 573 6,466 * 8, 909 8,603 8,679 7,429 11,312 10, 537 2,089 1,715 750,008 1 674, 503 59 53 9,676 1,496 645, 571 53 10, 287 1,422 728, 335 54 8,811 1,440 625, 503 50 10, 668 10, 629 7,867 9,513 8,635 8,000 6,700 7,500 7,000 6,600 1,344 1,262 1,208 885 1,009 774 874 676 717 647 842 7.74 7.63 7.46 7.42 9.41 9.14 -0.5 -18.8 6.64 6.60 6.55 6.54 8.34 8.00 -0.2 -18.2 -13.4 +35.1 42 TREND OF BUSINESS MOVEMENTS—Continued 1926 The curnulatives shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February , 1927, "Survey" PEE CENT INCREASE (+) OR DECREASE (— ) 1926 1937 February Feb., 1927, Feb., 1927, Jan., 1927 Feb., 1926 October November December January 1,494 24, 637 28, 393 11,001 7,057 2,208 32, 219 22,847 12, 563 5,924 2,030 36, 412 22, 339 8,652 5,100 2,017 40, 616 27, 638 10, 638 6,095 47, 792 24, 667 8,501 5,855 4,823 29, 519 30, 851 10, 268 7,191 2,918 35, 688 25, 596 9,906 6,709 -0.3 +17.7 -10.7 -20.1 -3.9 .78 .71 .76 .77 .76 .80 .77 -1.3 -1.3 14, 333 49, 732 860 11, 309 50, 063 951 10, 188 46, 341 808 14, 377 46, 890 614 10,053 44, 625 321 14, 948 66, 284 1,447 11, 128 61, 896 873 -30.1 -4.8 -47.7 -9.6 -27.9 -63.2 .47 1,036 .45 1,215 .50 927 .50 791 .48 .43 996 .41 894 -4.0 14, 068 15, 026 11,329 8,890 13, 994 11, 898 4, 445 4,823 939 3,668 4,902 1,080 3,027 4,492 1,363 2,663 4,180 1,006 2,347 3,790 1,257 3,034 6,971 783 2,588 7,919 311 .71 .71 .74 .74 .78 .72 .70 2,688 12, 594 137 1.01 2,254 12, 751 162 .96 1,453 12, 343 613 .97 1,281 12, 591 804 1.02 2,156 13, 655 591 1.05 1,520 6, 236 197 1.05 1,082 5,871 186 .97 27, 251 24, 678 19, 787 17, 060 13, 014 12, 702 8,901 1, 019, 566 477, 583 January February from from CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 1926 1927 Perct increase (+) or decrease (-) cumulative 1927 from 1926 FOODSTUFFS— Continued Corn Exports including meal thous. of bushs Visible supply end month thous. of bushs Receipts, principal markets. __thous. of bushs__ Shipments, prin. markets thous. of bushs. _ Grindings, (starch, glucose) ..-thous. of bushs.. Prices, contract grades, No. 2, Chicago dolls, per bush 2,023 -30.7 7,741 4,040 -47.8 -3.6 -14.2 -12.7 56, 447 20, 174 13,900 52, 305 19, 139 11,950 -7.3 -5.1 -14.0 26, 076 24, 430 -6.3 2,320 935 -59.7 5,622 5,010 -10.9 1,094 2,263 106.8 +68. 3 +99.4 +8.5 +132. 6 -26.5 +217. 7 +8.2 +2.9 2,602 3,437 +32.1 -23.7 +46. 2 21, 603 18, 374 —15.0 -28.9 +43.7 +33.9 Oats .Receipts, principal markets thous. of bushs.. Visible supply, end month thous. of bushs.. Exports, including meal _ .thous. of bushs.. Prices, contract grades, Chicago dolls, per bush Grindings Canada thous. of bushs Production, oatmeal" and rolled oats Canada thous. of Ibs +17.1 Other Grains Barley: Receipts, principal markets thous. of bush. _ » Visible supply end mo thous of bush Exports _ _ .-thous. of bush. . Price fair to good, malting, Chicago dolls per bush Rye: Receipts, principal markets thous. of bush Visible supply end mo thous of bush Exports, including flour thous. of bush_. Price, No. 2, Chicago dolls, per bush.. -11.9 -9.3 -14.7 -52.1 +25.0 +304. 2 +5.4 +11.4 383 1,395 +264. 2 Total Grains Total grain exports, incl. flour. thous. of bush.. Bice Southern paddy, receipts at mills ...Jbbls.. 1, 681, 130 1, 252, 887 1, 025, 131 817, 939 Shipments: Total from mills pockets (100 Ibs ) 1, 034, 736 1, 077, 146 895, 206 1, 120, 252 New Orleans pockets (100 Ibs.) .- 259, 205 307, 692 209, 306 249, 175 Stocks end of month pockets (100 Ibs ) 1, 879, 502 2, 196, 817 2, 362, 088 2, 095, 911 101, 707 395, 119 241, 678 368, 895 Exports pockets (100 Ibs.) 30, 372 37, 076 56, 818 Imports pockets (100 lbs.)._ 25, 957 911, 578 608, 600 131, 393 165, 370 177, 220 2, 168, 554 2, 052, 144 48, 248 55, 739 508, 885 194, 576 108, 464 70, 562 +34.9 296, 763 426, 395 +37.9 +24.2 -63.8 103, 987 303, 040 877, 780 +744.1 127, 380 +58.0 Other Crops Apples: Cold-storage holdings, 7,107 end of month thous of bbls Car-lot shipment . _ carloads. . 41, 745 34, 920 Potatoes car-lot shipments carloads Onions car-lot shipments _. : .carloads.. 5,265 4,521 Citrus fruits car-lot shipments . carloads. 70, 100 Hsy receipts - tons 10, 468 22, 200 18, 510 2,850 9, 855 69, 539 9.356 8,090 13, 252 2,491 12, 581 68, 273 * 7, 335 7,827 17, 408 2,797 11, 725 78,088 5,132 7,883 17, 314 2,018 10, 855 56, 938 7,051 6,078 15, 817 2,524 9,703 98, 998 5,300 6,622 14, 553 2,248 8,399 72, 139 -30.0 +0.7 -0.5 -27.9 -7.4 -27.1 -3.2 +19.0 +8.7 -10.2 -29.2 -21.1 12, 700 30, 370 4,772 18, 102 171, 137 15, 710 34, 722 4,815 22,580 135, 026 +23.7 2,460 1,113 570 1,326 1,846 739 301 1,136 1,832 657 205 1,136 1,554 537 175 1,012 1,840 675 225 1,144 1,551 532 177 1,013 -15.2 -18.3 -14.6 —10.9 +0.2 +0.9 —1.1 -0.1 3,391 1,207 402 2,157 3,386 1,194 380 2,148 -0.1 —1.1 -5.5 -0.4 512, 357 486, 723 2,190 494, 665 479, 484 1,697 443, 931 448, 628 1,975 401, 482 407, 700 1,748 458, 376 462, 650 1,754 395, 362 397, 616 2,083 -9.6 -9.1 -11.5 +1.5 +2.5 -16.1 853, 738 860, 266 3,837 845, 413 856, 328 3,723 -1.0 -0.5 -2.0 85, 977 100, 873 1 95, 254 88, 172 80, 538 77,690 -7.4 +13.5 9.39 .170 .145 9.72 .170 .141 10.30 .170 .145 11.06 .170 .150 9.38 .170 .147 9.69 .163 .150 +2.9 0.0 +3.4 +14.1 +4.3 0.0 3,261 1,334 129 1,933 3,554 1,317 126 2,219 3,910 1,476 105 2,441 4,252 1,527 99 2,694 3,308 1,315 94 2,006 4,304 1,581 65 2,721 3,372 1,345 58 2,035 -22.2 -13.9 -5.1 -25.5 -1.9 -2.2 +62.1 -1.4 7,676 2,926 123 4,756 7,560 2,842 193 4,700 +56.9 479, 917 546, 837 76,906 568, 835 540,331 72, 914 722, 806 1783,758 544, 773 * 564, 328 91,347 85,134 608,455 445, 401 74, 150 802,879 566, 918 130, 829 604, 958 429, 713 109, 764 -22.4 -21.1 -12.9 +0.6 +3.7 -32.4 1,407,837 996, 631 240,593 1,392,213 1,009,729 157, 284 -1.1 +7.3 -34.6 477, 978 434, 972 522, 749 1 658, 647 749,501 620,229 685,992 +13.8 405,623 388,228 472, 757 1589,071 672, 111 546, 025 609,847 +14.1 +14.3 +0.9 +24.7 -21.1 Cattle and Calves Cattle movement, primary markets: 2,674 Receipts thousands 1,310 Shipments, total thousands.. 693 Shipments, stocker and feeder.-thousands.. 1,356 Local slaughter thousands Beef products: Inspected slaughter product, -thous. of Ibs. . 545, 988 Apparent consumption thous. of lbs_. 531, 354 1,984 Exports thous. of Ibs Cold-storage holdings, 61, 198 end of month thous of Ibs Prices, Chicago: 9.89 Cattle corn-fed dolls per 100 Ibs .170 Beef, fresh native steers dolls, per lb._ .162 Beef, steer rounds, No. 2 dolls, per lb__ Hogs and Pork Hog movements, primary markets: Receipts . thousands. _ Shipments, total thousands.. Shipments, stocker and feeder . .thousands. _ Local slaughter _. thousands.. Pork products, total: Inspected slaughter product.. thous. of lbs._ Apparent consumption thous. of lbs__ Exports.. thous. of lbs_. Cold-storage holdings, total, end of month thous of Ibs Fresh and cured in storage, end of month thous. of Ibs.. i Revised. +9.3 +10.2 -1.5 -2.9 -1.2 43 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulative^ shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" 1927 PER CENT INCREASE (+) OE DECREASE (— ) 1926 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 Per ct. in- crease (+) or de- crease October November Decem- January ber February January February Feb., 1927, Feb., 1927, Jan., 1927 Feb., 1926 -19.1 -16.6 -5.1 -23.7 from from (-) 1926 1927 cumulative 1927 from 1926 FOODSTUFFS— Continued Hogs and Pork— Continued Lard (included in pork products): Production thous.oflbs Exports thous. of Ibs Cold-storage holdings, end of month thous. of lbs_. Prices: Hogs, heavy, Chicago dolls, per 100 Ibs.. Hams, smoked, Chicago dolls, per lb__ Lard, prime contract, N. Y.._dolls. per lb_. 120,370 62, 690 59, 842 49, 884 162, 314 76, 670 126, 905 65, 356 46, 744 49, 992 i 69, 576 77, 390 64, 187 76, 145 12.09 .293 .128 11.77 .280 .128 11.97 .269 .129 11.64 .273 .128 11.63 .278 .157 12.05 .288 .152 -2.8 +2.2 -0.8 -3.0 -5.2 -15.8 1,150 999 1,917 988 493 932 1,706 780 223 934 1,740 819 1207 921 1,496 669 136 829 1,548 694 155 856 1,486 615 107 863 -14.0 -18.3 -34.3 -10.0 43, 892 43, 825 39, 737 39, 762 45, 354 44, 688 44, 161 44, 292 40, 510 40, 945 42, 684 42, 526 40, 946 40, 016 2,814 3,166 4,556 14,447 4,072 2,354 5.81 13.28 5.77 12.70 5.64 12.04 6.44 12.47 7.78 13.24 7.89 14.84 52, 590 53, 960 63,846 i 61, 791 59, 224 57, 168 92, 967 46, 988 106,061 43,488 72,355 12.97 .303 .142 3,090 2,098 129.614 M48,790 289, 219 142, 026 269, 160 109, 726 -6.9 -22.7 +0.7 +8.8 +27.1 -3.9 3,034 3,236 +6.7 +13.7 -8.3 -7.6 —1.1 +2.3 83,630 3,346 -8.4 +21.7 7.89 13.28 +20.8 +6.2 -1.4 -0.3 54, 825 -4.1 +8.0 Production, inspected slaughter__thous. of Ibs. _ 1, 069, 797 1, 120, 929 1, 262, 825 1, 271, 850 1, 050, 446 1, 303, 939 1, 041, 266 Cold-storage holdings, end mo.. -thous. of Ibs. . 522, 225 531,331 642, 032 i 750, 563 823, 579 745, 708 696, 102 Apparent consumption .thous. of Ibs. _ 1, 121, 986 1,066,816 1,068,945 1, 057, 247 894,046 1,072,094 867, 343 -17.5 +9.7 -15.4 +0.9 +10.4 +3.1 2, 345, 205 2,322,296 -1.0 1, 939, 437 1, 951, 293 +0.6 45, 946 46, 653 +1.5 +11.2 +1.6 Sheep and Lambs Sheep movement, primary markets: Receipts thousands Shipments, total thousands __ Shipments, stocker and feeder.. thousands _ _ Local slaughter thousands Lamb and mutton: Inspected slaughter product.. thous. of Ibs.. Apparent consumption thous. of Ibs. . Cold-storage holdings, end of month thous. of lbs_. Prices: Sheep, ewes, Chicago dolls, per lOOlbs.. Sheep, lambs, Chicago.. .dolls, per lOOlbs.. 1,309 262 1,719 82, 542 1,488 343 1,750 84,671 85, 237 +30.9 +1.8 +1.2 +3.3 Miscellaneous Meats Cold-storage holdings, end mo. _. thous. of Ibs. _ Total Meats Poultry Receipts at five markets Cold-storage holdings, end of month thous. of Ibs 31, 105 69, 991 76, 919 i 27, 704 18, 949 26, 765 19, 181 -31.6 -1.2 thous. of Ibs. _ 64,842 106, 854 144, 497 144, 076 129, 608 108, 512 95, 397 -10.0 +35.9 Total catch, prin. fishing ports. ..thous. of Ibs.. 23, 762 Cold-storage holdings, 15th of mo.thous. of Ibs. _ 70, 309 Canned salmon: Shipments, United States cases.. 836, 374 Exports, Canada cases.. 245, 660 19, 924 75, 034 13, 439 69, 584 18, 140 i 58, 655 19, 349 48, 693 13, 644 48, 181 37,378 14, 756 +6.7 -17.0 +30.3 +31.1 28, 400 37,489 +32.0 543, 333 584,097 482, 140 106, 145 66, 467 325, 612 115, 031 282, 987 i 81, 863 -37.4 -18.8 196, 885 172, 61^ -12.3 78, 931 76, 080 -3.6 28,422 27, 622 1 -2.8 7, 919 675 9,396 5,248 726 6,613 +18.7 +7.6 +26.1 1,679 2,146 +27.8 7,510 5,547 -26.1 10,663 9,885 -7.3 Fish 245,883 121, 965 Butter Receipts, 5 markets thous . of Ibs. . 38, 166 Cold-storage holdings, creamery, end of month thous. of lbs__ 100, 871 Apparent consumption thous. of lbs__ 167,692 34, 180 36,054 37, 705 38, 375 39,424 39, 507 +1.8 -2.9 64,377 158,407 34, 347 156, 777 1 17, 952 145, 906 8,086 39, 381 26, 313 -55.0 -69.3 15,984 40, 695 71, 920 12, 706 36, 616 i 62, 136 13,568 +17.4 +9.9 -6.3 18,601 356 13, 635 3,209 3,404 2,668 2,580 -13.8 -14.6 +3.9 +6.1 1145,220 131,461 Cheese Total, all varieties: Receipts, 5 markets Apparent consumption Cold-storage holdings Imports Exports, United States Exports, Canada _ American whole milk: Cold-storage holdings thous of Ibs thous. of lbs_. thous. of lbs_ thous. of lbs_. thous. of Ibs.. thous. of lbs._ 19,252 45,423 thous. of lbs._ 72,491 63, 881 54,596 146,026 39, 239 50, 339 42,587 -14.5 -7.9 thous. of cases thous. of cases . 5,888 699 581 3,215 11,096 751 970 1253 1,176 87 609 578 1,070 77 +21.2 -65.6 +9.9 +13.0 23,935 13,738 110,003 19, 759 16, 594 12, 418 22,889 19,142 -25.2 -7.5 +25.6 18, 628 5,016 14,399 U,072 3,454 11, 296 5.68 5.63 14,909 3,822 3,777 -37.6 +5.6 +5.9 +1.6 -52.7 -6.4 -24.5 -3.9 89, 785 9,722 252 23,449 15,954 42, 774 81, 084 11, 102 341 10,033 5,608 356 14, 916 14,854 53, 925 39, 057 67, 531 4,788 370 4,788 340 37, 214 58, 175 3,131 335 +52.9 +10.4 +31.9 Eggs Receipts, 5 markets Cold-storage holdings Milk Condensed milk: Manufacturers' total stocks (end of month)— Case goods thous. of Ibs.. 27,945 Bulk goods thous. of lbs_. 18,438 Manufacturers' unsold stocks (end of month)— Case goods thous. of Ibs... 23,010 Bulk goods thous. of lbs__ 7,869 Exports _ thous.oflbs 2,521 Wholesale price, New York. dolls, per case.. 5.85 Evaporated milk: Manufacturers' total stocks (end of month), case goods thous. of Ibs.. 128, 346 Manufacturers' unsold stocks, case goods thous. of lbs_. 104,385 Exports thous. of Ibs.. 4,657 Wholesale price, New York.dolls. per case.. 4.41 i Revised. 2,939 5.85 8,260 3,388 2,694 7,637 5,718 7,054 3,577 2,853 17, 592 3,217 5.72 6.00 3,733 6,081 5.95 99,685 171,355 54,888 49, 941 107,304 92,974 -9.0 76, 965 6,115 4.42 145,235 6,499 19,084 5,554 10,150 70,187 4.48 4.50 82,897 5,962 -46.8 -22.0 0.0 4,331 4.60 4.72 4,701 4.44 -35.1 -46.3 -83.1 -7.9 +1.4 44 TREND OF BUSINESS MOVEMENTS—Continued Per ct. 1926 The cumulative^ shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" 1937 PEE CENT INCREASE (+) OR DECREASE (— ) 1926 ! I October November Decem- January ber February January February Feb., 1927, from Jan., 1927 FOODSTUFFS— Continued i Milk— Continued Powdered milk: Manufacturers' total stocks.. thous. of lbs__ 12, 299 Exports thous. of lbs_ J 171 Fluid milk: Receipts— i Boston (includ. cream) _. thous. of qts__ 17, 758 Greater New York thous. of qts._ 108, 469 ProductionMinneapolis, St. Paul thous. of lbs__ 19, 328 Consumption in manufacture of 6,504 oleomargarine .thous. of IDS. _ 10,292 213 9,610 ! 259 9,638 6,637 i 5,726 5,774 203 190 .... __..-iJ 16, 010 100, 865 14, 876 i 92, 820 254 268 -31.1 -5.2 +14.9 +33.7 393 522 i +32.8 16, 772 101, 889 16, 349 105, 235 106, 156 19, 424 22, 562 25,468 24, 623 27, 188 26, 126 -3.3 -5.8 53, 314 50, 091 -6.0 6,891 7,262 6,287 6,262 6,616 5,972 -0.4 +4.9 12,588 12, 569 -0.2 26, 827 352, 569 347, 156 277, 687 20,475 70, 187 163, 973 290, 613 177, 791 142, 800 221, 927 271, 948 246, 391 58, 309 233, 821 367, 439 89, 144 144, 273 +103.5 434, 095 +123. 5 444, 259 +24.9 -1.0 -15.5 -18.3 +68.3 202, 582 667, 916 811, 698 212, 987 480, 524 362, 841 300, 858 653,454 +5.1 -28.1 -19.5 17, 722 11, 148 1,404 123 28,386 1,980 -8.8 -6.2 30, 366 1,527 -5.0 12,419 5,604 5, 760 6,541 6,553 9,645 +13.6 -32.2 16, 198 .047 .058 .064 129 .051 .061 .065 133 .051 .062 .068 136 .049 .060 .068 136 .042 .051 .058 122 .042 .052 .060 122 -3.9 -3.2 0.0 0.0 +16.7 +15.4 +13.3 +11.5 169, 202 342, 124 225, 592 62, 829 206, 816 69, 741 482, 152 166, 044 298, 682 805, 868 397, 066 702, 733 611, 099 379, 723 364, 430 769, 537 -32.9 445, 215 +139. 1 684, 263 +135. 3 +4.7 -10.8 +2.7 1,380,636 824,938 1, 288, 020 563, 110 -6.7 -31.7 159, o67 120, 518 136, 955 119, 672 125, 624 143. 268 122, 965 +25.6 +2.2 266, 233 245,296 -7.9 thous. of bags.. thous of bags thous. of bags. . 4,604 4,564 4,605 4,385 4,753 899 1,108 888 1,215 4,701 978 1,389 923 1,006 685 1,157 4,761 798 939 -4.8 -9.0 -10.3 -7.9 +15.7 +7.1 2,096 2,133 +1.8 thous. of bags.. thous. of bags.. 1,363 780 1,269 721 1,159 716 1,214 666 928 447 1,007 572 1,236 610 -23.6 -32.9 +31.6 -26.7 2,243 1,182 2,142 1,113 -4.5 -5.8 14, 626 Sugar Raw: Imports— From Hawaii and Porto Rico - long tons.. 51, 505 From foreign countries long tons.. 299, 863 471, 192 Meltings, 8 ports long tons Stocks at refineries, end mo long tons.. 222, 129 Receipts, domestic, at New 157 Orleans long tons Refined: 4,213 Exports, including maple long tons.. Prices: Wholesale, 96° centrifugal, .046 N. Y..._ dolls, per lb__ .057 Wholesale, granulated, N. Y__ dolls, per lb__ .064 Retail, granulated, N. Y dolls, per lb__ 129 Retail average, 51 cities index number.. Cuban movementf Receipts at Cuban ports long tons.. 197,350 434, 253 Exports long tons 390, 989 Stocks end of month long tons Coffee Imports ._ ._ \ isible supply: World United States Receipts, total, Brazil Clearances: Total, Brazil, for'world Total, Brazil, for U. S Feb., 1927, from Feb., 1926 CUMULATIVE TOTAL inFROM JANUARR 1 crease THROUGH FEBRU- ( } ARY 28 ortdecrease i! (-) l| cumu1927 jj lative 1926 1927 from 1926 thous. of lbs__ Tea Imports.. Stocks, United Kingdom, end of month thous. of lbs__ thous of Ibs 366,551 I 1,014 1,127 178.803 1 +69.2 . ! 12,301 I -24.1 11, 057 10, 737 9,559 8,876 5,585 7,546 7,080 -37.1 -21.2 14, 461 -1.1 186, 861 196, 626 207, 003 222, 636 217, 413 209,037 202, 300 -2.3 +7.5 -5.2 -9.1 884, 877 907, 774 -2.1 +5.9 13, 183, 957 13, 878, 522 +2.6 +5.3 TOBACCO Consumption (tax-paid withdrawals) : 433, 673 451, 204 Large cigars thousands. _ 664, 497 654, 975 464, 574 466, 078 441, 696 Small cigarettes thousands 8, 060, 677 7,345,202 6, 391, 844 7, 269, 356 6, 609, 166 6, 943, 815 6, 240, 142 Manufa6tured tobacco 34, 411 34, 054 33, 005 31, 874 28, 218 30, 955 34, 731 and snuif . thous. of lbs__ Exports: 46, 891 47, 147 66, 337 49, 136 50, 375 46,840 53, 129 Unmanufactured leaf thous. of lbs_. 851, 531 513, 193 611,998 775, 081 761,026 611,221 654, 013 Cigarettes thousands 111,199 83,462 Sales of loose-leaf, warehouses thous. of lbs._ 131, 891 141, 000 122, 882 130, 006 118, 493 Price, wholesale, Burley good leaf, 25. 00 25.00 21.00 21.00 21.00 j 21.00 21.00 dark red, Louisville .dolls, per 100 ibs_. River and Canal Cargo Traffic T " R ^ -Y y* eis ' o, 2,375 -- 1,327 556 83, 218 2,153 103, 960 2,272 1,195 543 79, 040 2,310 1,233 551 79, 465 2,347 2,242 1,152 625 1,216 478 2,139 1,092 523 40, 889 2,061 49, 975 ii 37,755 Cape Cod Canal short tons 2,245 2,305 2,304 2,059 Suez Canal thous of metric tons 89, 608 57, 996 85,006 104, 450 80, 910 Mississippi River, Govt. barges short tons.. Ohio River, Pittsburgh, Pa., to 155, 339 273, 207 621, 496 624, 697 639, 709 881, 490 975, 225 Wheeling, W. Va short tons 89, 242 81, 315 191,719 85, 605 24, 330 Allegheny River short tons.. 274, 931 246, 446 2,117,558 1, 487, 357 2,115,215 1, 935, 879 1,638,476 2, 192, 169 2, 303, 595 Monongahela River .. short tons.. j Ocean Traffic Clearances, vessels in foreign trade: Total thous. of net tons.. American thous. of net tons.. Foreign thous. of net tons.. * Revised. 68, 465 64, 879 -5.4 -0.7 +19.1 +42.0 94, 038 113, 177 0.0 -16.0 1,364,724 1,372,247 194, 661 248, 499 +20.4 +0.6 +27.7 174, 608 +61.7 ! thous of long tons , -6.4 ! TRANSPORTATION Panama Canal: Totil cargo traffic -3.4 -29.4 -19.7 -8.9 7,940 2,908 5,032 7,701 3,063 4,638 6,888 2,366 4, 522 5,153 1,818 3,335 4,745 1,734 3,011 1 4,616 1,600 3,016 4,519 1,590 2,929 -5.1 +70.1 107, 971 +0.5 +128. 7 -4.1 +5.3 +9.4 +29.2 1 428, 546 105, 645 3, 125, 833 -7.9 -4.6 -9.7 +5.0 +9.1 1 +2.8 '' 9,135 8,190 5,945 1, 246, 193 +190.4 174, 847 +65.5 +29.7 4,053,437 9,898 3,552 6,346 1 +8.4 +11.3 +6.7 45 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulative's shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" 1926 1927 October November Decem- January ber 12,414 9,648 23,237 20, 934 36,376 31, 605 6,396 1, 208 273 317 314 313 PER CENT INCREASE (+) OR DECREASE (— ) February January 19, 374 15, 532 8,629 4,517 February Feb., 1927, from Jan., 1927 Feb., 1927, from Feb., 1926 CUMULATIVE TOTAL FROM JANUARR 1 THROUGH FEBRUARY 28 Per ct. increase (+) or decrease 1-) cumulative 1927 from 1926 1926 1927 16, 207 4,829 25, 770 +59.1 16, 740 +246. 7 TRANSPORTATION-Continued Shipbuilding Completed during month: Total gross tons Steel seagoing . gross tons Building or under contract, end of month: Merchant vessels thous. of gross tons.. 268 7,578 +202. 9 +155. 7 312 +128. 6 251 Freight Cars Surplus (daily av. last week of month) : Total . . ., cars 81,011 144, 921 275, 260 Box _ _' cars. 45, 148 98, 794 166, 532 Coal cars 61, 181 12, 106 12, 521 Shortage (daily av. last week of month) : Total cars 28 1,945 579 Box . .cars 460 25 Coal cars.. 18 1,360 516 Car loadings: Total . . . . . . . . . cars 6,006,024 4, 271, 700 3,780,031 Grain and grain products cars 184, 139 266, 240 180, 596 Livestock cars 200,666 138,443 121, 747 Coal and coke cars 1, 196, 637 988, 281 947, 265 Forest products cars 360, 775 263, 351 234, 152 Ore _ cars 338, 619 127, 302 38, 792 Merchandise and 1. c. 1 .cars 1, 384, 234 1, 046, 406 987, 699 Miscellaneous cars 2, 258, 853 1, 524, 321 1, 266, 237 259, 548 148, 742 62, 588 275, 163 141, 589 83, 252 164 2 85 125 None. 164 250, 935 i 207, 683 87, 389 113, 860 74, 151 92, 040 +6.1 +32.5 -4.8 +62.0 +33.0 +12.3 197 83 15 +92.9 4, 524, 749 3, 823, 931 4,428,256 3, 677, 332 178, 387 171, 064 220, 958 226, 334 163, 658 110, 990 162,850 112,925 997, 378 770, 225 1, 125, 448 903, 149 311, 781 299,306 295, 924 275, 597 42, 823 47, 241 40, 786 47, 240 1, 187, 182 1, 009, 978 1, 172, 634 981, 137 1, 494, 339 1, 303, 007 1,510,038 1, 293, 889 -15.5 -19.3 -27.8 -19.8 -6.9 -9.3 -14.9 -12.8 218 10 170 -23.8 -36.5 +4.0 +4.3 -1.7 +17.3 -7.9 +5.0 +2.9 +0.7 8, 105, 588 8, 348, 680 399, 345 397, 398 264,648 275,775 1, 767, 603 2, 028, 597 571, 521 611, 087 90,063 88, 027 2, 153, 771 2, 197, 160 2, 803, 927 2, 797, 346 +3.0 +0.5 -4.0 +14.8 -6.5 +3.0 +2.0 +0.8 366 428 73 305 424 111 -16.7 -0.9 +521 289 137 -52.6 192 33 85 18 -55. 7 -45.5 96 50 -47.9 22, 884 21,381 -6.6 10,203 9,380 6, 232 6, 169 -38.9 -34.2 369 560 +51. 7 341 322 116 97 -66.0 -69.9 Railroad Operations Operating revenue: Freight .thous. of dolls.. Passenger . . thous. of dolls Total operating thous. of dolls.. Operating expenses thous. of dolls.. Net operating income thous. of dolls Freight carried mills, ton-miles Pullman company operations: Revenue ....thous. of dolls.. Passengers carried - thousands 471, 478 82, 082 609,045 414, 902 146, 125 48,273 432, 666 ,7,299 561, 034 402, 673 114, 734 43,342 384, 108 89, 622 526, 486 407, 302 80,893 40, 096 357, 840 85, 975 487, 004 387, 489 61,579 39, 223 1 1347, 568 89, 505 l 480, 995 i 378, 649 * 65, 725 1 37, 676 340, 276 78, 595 460, 204 360, 590 63,289 35, 414 6,778 2,997 6,018 2,684 6,437 2,889 7,086 2,988 7, 107 2,991 6,032 2,608 Railway Equipment Locomotives (Am. Ry. Assn.): Owned, end of month . number 62,829 62,333 63,548 62,428 63,593 -0.1 -1.9 62, 672 62,387 Tractive power. .mills, of Ibs 2,610 2,592 2,608 2,611 2,588 0.0 +0.7 2,611 2,611 In bad order, end mo __ number _ 8,654 9,548 -5.2 8,549 10, 074 10, 076 +3.2 9,320 9,256 Per cent of total in use per cent.. 13.9 15.4 +3.4 -3.8 13.8 16.0 16.0 14.9 16.0 Installed during month . number 175 160 -8.6 206 191 175 +10.3 354 145 Retired during month number.. 214 390 206 222 -3.6 450 +1.9 512 210 Ordered from manufacturers number 30 85 13 +226. 9 +553. 8 52 60 26 215 Unfilled orders (railroads)— From manufacturers number 262 232 42 1 276 455 401 -11.5 262 287 In railroad shops number.. 44 72 53 38 40 -21.4 +10.0 56 57 Shipments (Census)— Total. .....number.. 151 185 80 U26 163 +40.4 -50.9 128 57 DomesticSteam number 124 69 101 +331. 3 -31.7 152 191 109 16 Electric number __ 15 22 +25.0 -54.5 17 10 11 15 8 Unfilled orders, end of monthTotal ._ number 572 390 396 398 653 -2.2 -30.8 517 405 DomesticSteam number.. 286 314 442 297 -6.0 -29.0 334 506 391 Electric number. , 20 22 60 +37. 5 —63 3 14 27 16 53 Exports, steam. number 9 38 -78.0 -76.3 41 58 18 17 5 Freight cars (Am. Ry. Assn.): Owned, end of month cars 2, 345, 392 2,342,000 2, 336, 470 2, 335, 923 2, 334, 917 2,344,016 2, 345, 508 —0 4 Capacity . ... mills, of Ibs -0.5 211,988 211,768 211, 436 211, 488 211,477 210,009 210, 362 In bad order, end mo cars.. 139, 484 161,959 138, 292 + 1.1 -14.6 158, 160 130, 146 136, 847 137,420 Per cent of total in use per cent. . +3.4 -12.9 6. 1 5.7 6.1 5.9 6.8 7.0 6.0 Ordered from manufacturers cars 2,891 11,353 -75. 7 -63.1 4, 185 2,732 5, 831 11,531 17, 196 Shipments by manufacturers— Total cars 3,299 6,904 -5.8 -56.2 5, 311 3,209 3,023 2, 656 2,433 Domestic cars 6,412 3,009 -4.8 -53. 1 4,388 2,968 3,160 2,450 2,376 Unfilled orders (railroads) — Total . . cars 1 1. 484 28, 426 45, 344 -23.0 -37.3 18, 481 36, 929 49,831 •11,591 From manufacturers cars 18, 255 34, 626 -32.6 -47,2 7,046 12,313 39, 751 6,975 27, 069 In railroad shops _ cars. +3.2 4,438 -5. 1, 6,168 10, 171 10, 718 9.860 10, 080 4,616 Passenger cars: Ordered from manufacturers cars. . 152 -21,7 +61. 8 32 217 105 314 246 124 Shipments by manufacturersTotal. . cars 165 -6.7 -66.1 197 191 56 145 176 60 Domestic cars. . 55 197 157 165 +31.0 -66.7 191 42 114 Passenger Travel National parks: Visitors Automobiles entered Arrivals from abroad: Immigrants United States citizens Departures abroad: Emigrants United States citizens Passports issued i Revised. . number number 55,543 15,620 33, 088 3,658 31, 302 1,744 51, 972 6,359 number.number 34, 528 34, 176 30, 756 27, 844 23, 805 16, 777 18,804 16, 913 number number number 5,377 18,150 7,896 6,859 17, 992 9,481 19,608 8,431 3,928 21,483 9,053 a, 434 58, 599 6,187 9,381 36, 238 2,411 38,713 2,265 19, 072 19, 695 20, 041 23,687 5,286 25, 987 9,054 3,232 29, 108 8,411 +12.8 +51.4 -2.7 +173. 2 +3.6 +11.5 74,951 4,676 17,465 110, 571 +47. 5 12,546 + 168. 3 18, 434 +5.5 46 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February , 1927, "Survey" October November PEE CENT INCREASE (+) OR DECREASE (— ) 1926 1927 February January February 58, 189 14, 115 56, 509 13, 748 11, 032 13, 726 1,712 10, 430 12, 767 1,450 9,837 12, 073 1,226 113, 516 42, 217 1106,890 i 37, 501 i 99, 634 i 33, 791 December January 64,766 16, 261 64,140 16, 517 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 Feb., 1927, from Jan., 1927 Feb., 1927, from Feb., 1926 1926 1927 -9.0 +0.4 1, 588, 441 1, 573, 863 +1.2 +3.2 0.0 0.0 + 1..3 +2.9 0.0 + L.7 -4.7 17 4 +1,1 -3.2 -8.1 -5.3 -3.6 -5. 0 Perct. increase (+) or decrease (-) cumulative 1927 from 1926 PUBLIC UTILITIES Telephone companies: Operating revenues. thous. of dolls. _ 62,641 62, 363 Operating income thous. of dolls. . 15, 920 15, 941 Telegraph companies: Commercial telegraph tolls. thous. of dolls.. 12, 205 10, 321 Operating revenue... thous. of dolls.. 13,998 12, 879 Operating income thous. of dolls.. 1,678 1,626 Gas and electric companies: Gross earnings thous. of dolls. . i 104, 700 i 106, 481 Net earnings thous. of dolls. . 34, 939 i 37, 241 Electric railways (212 companies) : Passengers carried thous of persons . 807, 261 791, 386 Electric power production: Total _ mills, of kw. hours. . 6,554 16,460 By water power mills, of kw. hours .. 2,159 2,234 By fuels mills, of kw. hours.. 4,395 * 4, 227 In street railways, manufacturing plants, etc mills, of kw. hours. _ 380 397 In central stations mills, of kw. hours. . i 6, 174 i 6, 063 Gross revenue sales thous. of dolls. . 141, 300 147,000 EMPLOYMENT AND WAGES Employment in factories: New York State .thousands.. 506 Detroit thousands 220 New Jersey (rel. to 1923) index number.. 97 Pennsylvania (rel. to 1923). .index number.. 96 Delaware (rel. to 1923) index number-. Wisconsin (rel. to 1915) index number. , 121. 'o Illinois (rel. to 1922) ...index number... 102. 4 Massachusetts (rel. to 1914). index number.. 89.8 Total pay roll: New York State thous. of dolls. . 14, 853 Wisconsin (rel. to 1915) index number.. 285. 5 New Jersey (rel. to 1923) index number. _ 110 Pennsylvania (rel. to 1923).. index number.. 94 Delaware (rel. to 1923) index number.. 86 Ohio construction employees (rel. to 1923) index number. . 101 Federal civilian employees, Washington, D. C., end of month number.. 59, 618 Average weekly earnings (State reports) : Illinois, factory labo r<» dolls. . 29.03 New York State, fa ctory labor dolls. . 29.35 Wisconsin, factory labor0 .dolls.. 26.62 Massachusetts (rel. to 1914). index number.. 180.1 New Jersey (rel. t o 1923) . . .index number.. 110 Pennsylvania (rel. to 1923) ..index number.. 106 Delaware (rel. to 923) index number.. 105 Average weekly earnings (National Industrial Conference Board) : Grand total (both sexes) dollars.. 27. 43 Total male . .dollars29.79 Skilled male dollars 31.26 Unskilled male dollars.. 24.28 Total women dollars.. 17.64 Average weekly hours: Nominal (both sexes) hours . . 49.8 Actual (both sexes) hours.. 48.6 Wages of common labor, by geographic divisionsNew England cents per hour.. 49 47 Middle Atlantic cents per hour. _ South Atlantic cents per hour27 East South Central cents per hour.. 25 West South Central . ...cents per hour.. 29 East North Central ..cents per hour.. 39 West North Central cents per hour.. 36 Mountain cents per hour.. 42 Pacific.. _. cents per hour. 52 United States, average cents per hour,. 39 Wage rates, U. S. Steel Corp. cents per hour.. 50 Wages, steel workers, Youngstown district. per cent of base 133.0 Applicants per 100 jobs, employment agencies: United States, average _ number 104 Eastern States ..number,. 112 Central States T number. . 122 Southern States ... number 72 Western States .number. . 65 756, 806 855, 835 831, 635 820, 072 753, 791 i 6, 794 i 2, 385 i 4, 410 6,714 2,353 4,362 6,121 1,956 4,165 5,602 1,909 3,693 441 » 6, 353 155.000 427 6.287 438 5.683 150, 500 411 5,191 145, 400 89.6 495 88 96 93 78 116. 5 99.7 88.5 485 216 95 91 7S 1 15. 4 97.8 87.9 491 223 95 91 79 118.7 97.8 89.4 513 262 94 92 83 123.2 98.8 92.9 515 270 94 94 86 125. 3 101.4 94. 1, 14, 564 262. 1 109 .91 87 14,584 253. 7 111 92 91 14, 286 251.2 107 87 87 14, 436 274.1 109 91 89 14,905 282. 3 98 88 90 14,720 302. 3 97 92 93 70 500 206 97 95 1 19.' '2 101. 1 76 74 61, 296 61, 199 28.24 29.05 25.10 188.8 104 100 104 19.25 28.58 26.41 189.3 104 103 104 27. 26 29.58 24.43 31. 03 17.26 27.07 29 47 31 16 23.76 17.07 27. 49 30 04 31 79 24.04 17. 31 49.4 47.8 49. 5 48.2 49.9 48.5 49.8 48.9 49 49 31 25 28 40 37 43 52 39 50 54 50 36 24 27 40 35 40 52 40 50 44 46 24 24 27 39 38 43 51 37 50 45 46 27 28 25 36 36 42 51 37 50 57 42 28 26 27 39 35 41 51 38 50 133.0 133.0 133.0 128.5 128 5 120 122 139 102 68 134 135 157 121 78 160 156 203 146 78 174 138 237 139 75 158 108 222 120 75 40.2 25.6 8.5 6.1 40.2 30.6 20.0 7.1 3.5 27.1 94 85 62 59, 489 59, 569 59, 615 28.58 29.15 24.84 181.7 109 103 107 28.87 29.47 24.61 181.3 112 106 108 28. 23 29.44 24.58 178.3 109 102 104 27.14 29.13 30. 57 23.80 17.39 27.05 29.12 30. 66 23.61 17.36 49.6 47.9 29.39 182. 2 111 106 105 50 50 39 24 32 44 37 41 53 41 50 158 162 191 155 72 +12.9 -5.4 • -0.2 +2.8 +2.2 +1.8 +3.9 +1.0 -3.8 +6.7 +2.9 +1.0 +13.6 -12.3 +8.7 +19.0 +62.5 +39.3 0.0 -7.7 +18.5 +18.5 +12.8 +12.8 -2.6 +5.7 -4.7 0.0 +3.9 +3.9 +10.8 +7.9 0.0 0.0 -1.2 0.0 +3.8 +50.0 -5.9 -14.0 +6.2 +29.2 -7.7 -4.0 Factory Labor Turnover 0 (Percentages of number on pay roll) Departures: Total Voluntary quits Layoffs Discharges Accessions _ ..., 1 per cent.. per cent.. per cent.. ..percent.. per cent Revised. 43.6 31.9 4.7 7.1 57.7 -6.3 -5.6 +86.0 -50.4 +6.6 • See table on p. 25 of the March, 1927, issue for earlier 41.4 23.4 5.7 12.3 35.0 38.8 22.1 10.6 6.1 37.3 38.9 27.1 4.7 7.1 56.5 40.4 27.3 6.5 6.5 56.1 * — 1.9 +1.0 +9.1 —9 3 +1.9 + 12.4 +4.6 -1.1 +2.3 -4.3 -4.0 -19.0 +63.1 -6.2 -33.5 data. | 1 -0.9 47 TREND OF BUSINESS MOVEMENTS—Continued 1926 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" PER CENT INCREASE (+) OR DECREASE (— ) 1926 1987 February February Feb., 1927, from Jan., 1927 Feb., 1927, from Feb., 1926 October November December January 54, 743 46,995 26, 840 20, 155 55, 802 47, 867 27, 991 19,878 60, 521 53, 086 29,983 23, 103 39, 286 35, 237 22, 080 13, 157 39, 028 35, 150 20, 966 14, 184 42, 315 37, 858 22, 591 15, 267 40, 489 36, 268 21, 423 14, 845 -0.7 -0.2 -5.0 +7.8 -3.6 -3.1 -2.1 -4.5 42,506 2,191 24, 801 1,482 10,535 354 2,910 187 4,260 168 1,048 81 1,025 41 3,799 101 41, 224 2,204 22, 533 1,484 10, 957 362 2,912 189 4,822 169 1,010 81 954 41 3,726 104 77, 498 2,220 41, 347 1,484 20, 451 368 6,031 199 9,669 169 2,141 81 1,821 41 6,455 106 29, 647 2,223 16, 124 1,484 7,956 370 2, 275 199 3,292 170 655 81 658 44 2,205 106 31,963 2,244 17, 379 1,494 8,309 376 2,740 202 3,535 172 693 82 712 48 2,249 106 27, 816 2,078 15,162 1,423 7,451 305 2,157 183 3,046 167 567 72 641 37 2, 065 77 i 28, 437 2,084 15,478 1,423 7,496 312 i 2, 183 182 3,280 167 583 72 632 37 1,951 78 +7.8 +0.9 +7.8 +0.7 +4.4 +1.6 +20.4 +1.5 +7.4 .+1.2 +5.8 +1.2 +8.2 +9.1 +2.0 0.0 +12.4 +7.7 +12.3 +5.0 +10.8 +20. 5 +25.5 +11.0 +7.8 +3.0 +18.9 +13.9 +12.7 +29.7 +15.3 +35.9 93, 639 26, 1.14 97, 274 26,315 104, 206 26,357 96, 138 26, 553 93, 336 26, 672 80,J 37 24, 327 80, 460 24, 540 -2.9 +0.4 8,078 660 7, 739 704 10, 223 733 8,195 741 7,888 742 6,978 61$ 6, 735 622 9,607 3,389 8,862 3,424 13, 138 3,434 7,963 3,411 8, 110 3,398 7, 545 3,265 3,684 566 3,501 569 5,029 576 2,486 576 2,572 578 1,366 62 1,318 62 2,018 61 852 61 2,754 263 2,818 254 3,684 259 5,031 349 14,415 2,593 4,776 348 13, 724 2,466 1,194 1,244 January CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 Per ct. increase ( } or tdecrease (-) cumulative 1927 from 1926 1926 1937 82,804 74, 126 44,014 30,112 78, 314 70, 387 43, 046 27, 341 -5.4 -5.0 -2.2 -9.2 DISTRIBUTION MOVEMENT Retail Sales Mail-order houses: Total sales, 4 houses thous. of dolls Total sales, 2 houses thous. of dolls.. Sears, Roebuck & Co thous. of dolls.. Montgomery Ward & Co. -thous. of dolls.. Ten-cent chain stores: Total sales (4 chains) thous. of dolls.. Total stores operated (4 chains) ..number.. F. W. Woolworth & Co thous. of dolls.. Stores operated number _ S. S. Kresge Co thous. of dolls Stores operated _ _ number McCrory Stores Corp .thous. of dolls.. Stores operated _. _ number S. H. Kress & Co thous. of dolls.. Stores operated ... . number Metropolitan thous. of dolls. _ Stores operated number F. & W. Grand thous of dolls Stores operated number.. W. T. Grant Co thous. of dolls.. Stores operated number . Chain Stores: GroceriesSales ..thous. of dolls.. Stores operated ._ number _ DrugSales _. thous. of dolls Stores operated number . CigarSales _ thous. of dolls.. Stores operated.. number . ShoeSales thous. of dolls Stores operated number MusicSales thous of dolls Stores operated number-Candy— Sales thous. of dolls Stores operated. number Restaurant chains: Total sales (3 chains) thous. of dolls.. Stores operated -number-Average per store ..-dollars.Childs Co., sales thous. of dolls Waldorf System (Inc.), sales thous. of dolls.. J. R. Thompson Co., sales -_ thous. of dolls Other chain stores: Isaac Silver & Bros thous. of dolls S tores operated _ number Hartman Corporation thous. of dolls Stores operated _ number J. C. Penny Co^ thous. of dolls.. S tores operated ._ number United Cigars Stores Co___thous. of dolls.. Stores operated . , number A. Schulte (Inc.) thous. of dolls Stores operated number. . Owl Drug Co thous of dolls Stores operated . number 511 17 1,596 15 13, 247 743 6,878 3,091 2,693 289 1,597 95 56, 253 61,610 +9.5 30, 640 33, 503 +9.3 14, 947 16, 265 +8.8 5, 015 +15.6 6,326 6,827 +7.9 1,150 1,348 +17.2 1,273 1,370 +7.6 4,016 4,454 +10.9 + 16.0 +8.7 160, 597 189, 474 +18.0 -3.7 +0.1 +17.1 +9.3 13,713 16,083 +17.3 7, 544 3,266 +1.8 -0.4 +7.5 +4.0 15, 089 16, 073 +6.5 2, 524 522 2,274 522 +3.5 +0.3 + 13.1 + 10.7 4,798 5,058 +5.4 962 63 911 60 932 61 +12.9 +3.3 +3.2 +3.3 1,843 1,814 -1.6 2,163 243 2,361 245 2,028 232 2,101 229 +9.2 +0.8 +12.4 +7.0 4,129 4,524 +9.6 5,138 350 14, 680 2,699 4,896 352 13, 909 2,537 4,463 352 12, 679 2,319 4,743 342 13, 868 2,423 4,382 342 12,813 2,220 -8.8 0.0 9,125 9,359 +2.6 -a 6 +1.8 +2.9 -1.0 +4.5 4,643 4,856 +4.6 1,117 1,177 1,134 1,026 1,126 1,045 -9.5 -1.8 2, 171 2,160 —0.5 1, 193 1,262 1,225 1,118 1,194 1,117 -8.7 +0.1 2,311 2,343 + 1.4 480 18 1, 391 15 13, 334 743 6, 517 3,125 2,312 291 1, 347 94 951 19 1,496 15 15, 986 747 9,478 3,134 3, 574 292 * 1, 870 95 281 19 842 15 6,236 671 5,723 3,109 2,204 294 1,318 95 311 19 1,152 16 7,425 758 5,715 3,096 2,362 294 1,253 96 217 14 925 16 4,967 671 5, 608 2,985 1,895 269 1,261 88 238 14 1, 187 16 5,476 671 5, 6lO +30.7 +35. 7 -2.9 0.0 +35.6 +13.0 + 1.9 +3.8 +24.7 +8.5 +4.9 +9.1 +30. 1 '271 1,194 88 +10.7 0.0 +36.8 +6.7 +19.1 +13.0 -0.1 -0.4 +7.2 0.0 -4.9 +1.1 2,703 111,157 2,373 107, 351 1,821 97, 140 2,210 90,447 1,778 101, 885 2,145 i 91. 626 +21.4 -6.9 29,977 4,338 1,352 21, 513 2,486 1,372 22, 953 5,352 1,028 26, 718 5,593 1,107 24, 543 6,063 760 27, 339 6,327 507 2,875 865 3,591 281 463 377 416 2,480 2,060 223 1,748 927 2,281 395 247 261 501 2,628 1,972 269 1,257 905 2,239 315 148 26 184 1,370 1,275 116 2,720 922 3,102 202 274 37 161 1,439 1,300 65 1,621 1, 153 2,610 413 150 30 86 1,310 1,401 56 2,084 +116.4 + 1.9 823 2,557 +38. 5 262 -35.9 251 +85.1 81 +42.3 223 -12.5 +5.0 1,316 1,221 +2.0 56 -44.0 6,464 171 4.021 3,231 97 3.098 5,312 31 3.395 6,688 104 3.004 5,905 26 2. 959 7,137 +25.9 63 +235. 5 3.431 —11.5 1 4,340 . 455 592 2,112 1,994 -5.6 10,443 13, 661 +30.8 11,218 11,438 +2.0 3,789 4,566 +20.5 2,455 2,571 +4.7 +3.0 -1.3 3,923 193, 511 4,031 187, 587 +2.8 -3.1 +16.4 -2.3 +4.5 -11.6 +7.7 +118.3 51, 882 12, 390 1,267 49, 671 10,945 2,135 -4.3 -11.7 + f8.5 +30.5 + 12.0 +21.3 -22.9 +9.2 -54.3 -27.8 +9.3 +6.5 +16.1 3,705 1,976 5,167 675 401 111 309 2,626 2,622 112 3,977 1,827 5,341 517 422 63 345 2,8G9 2,575 181 + 7.3 + 14 - .14 + 7.7 -43. 2 +11.7 +7.0 -1.8 +61.6 —6. 3 +65.1 — 19 4 13, 042 89 6.390 12,000 135 fi. 399 -8.0 +51.7 -4-0.1 Advertising Magazine advertising-. thous. of Imes.. 2, 626 Newspaper advertising thous. of lines 123, 300 National advertising in newspapers: Total ...thous. of lines.. 32,098 Automobile advertising thous. of lines.. 6,098 Automobile accessories thous. of lines.. 1,396 Cigars, cigarettes, and tobacco thous. of lines.. 2,124 Financial thous. of lines.. 784 Food, groceries, beverages, -thous. of lines _ _ 3,983 Hotels and resorts.... thous. of lines.. 219 Household furniture thous. of lines. . 1,089 Men's clothing thous. of lines 458 Musical instruments thous. of lines.. 321 Radio and electrical thous. of lines. _ 2,367 Railroads and steamships thous. of lines.. 1,665 Shoes thous. of lines.. 228 Toilet articles and medical preparations thous. of lines 6, 345 Women's wear.. thous. of lines. . 317 Miscellaneous thous. of lines_. 4.704 i Revised. 48 TREND OF BUSINESS MOVEMENTS—Continued 1926 1937 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" Perct. CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRU- PER CENT INCREASE (+) OR DECREASE (— ) 1926 in- crease (4) or de- ARY 28 crease October November December January February January Febru- ary Feb., 1927, Feb., 1927, Jan., 1927 Feb., 1926 from (-) from cumu lative 1927 1926 1927 from 1926 DISTRIBUTION MOVEMENT— Contd. Postal Business Postal receipts, 50 selected cities thotis. of dolls Postal receipts, 50 industrial cities thous. of dolls Money orders: Domestic paid (50 cities)— Quantity - number Value thous. of dolls.. Domestic issued (50 cities) — Quantity _ .. number . Value thous. of dolls 32, 860 31,868 40, 282 30,394 29,299 29, 116 28, 088 -3.6 44.3 57, 204 59, 693 44.4 3,421 3,223 4,340 3,317 3,284 3,193 3,172 -1.0 43.5 6,365 6,601 43.7 11,447 97, 263 11,681 97, 465 13, 338 J04, 807 10, 576 80,473 10, 276 77,680 10,607 78, 898 9,905 74, 312 -2.8 -3.5 43.7 44.5 20,512 153, 210 20,852 158,153 41.7 43.2 3,208 34, 551 3, 320 35, 336 3, 658 37, 139 3,303 34,001 3,158 32, 240 31, 189 3,088 2,990 30,481 -4.4 -5.2 45.6 45.8 6,078 61, 670 6,461 66, 241 46.3 47.4 144, 458 1,211 144, 985 1,241 181,318 1,438 180,048 1,397 206, 283 1,505 159, 038 1,339 137, 517 1,552 +14. 6 +7.7 450.0 192, 677 653,943 152 846,772 49.7 412.9 -8.3 412.2 46.7 417.3 415.8 414.9 377, 523 1, 471, 189 352 1, 849, 064 393, 064 1, 446, 411 368 1, 839, 843 44.1 -1.7 44.5 -0.5 898, 870 52, 250 49.4 -37.6 4H.8 -37.9 1, 941, 756 93, 044 1, 923, 894 84,419 -0.9 -9.3 597, 429 174, 782 83, 088 855, 299 48.6 411.8 -51.2 42.7 44.8 418.6 -44.5 42.8 1, 157, 718 401, 940 193, 368 1, 699, 026 1, 202, 630 392, 509 140, 564 1, 735, 703 43.9 -2.3 -27.3 42.2 1 Wholesale Trade Delinquent accounts, electrical trade: Amount dollars Number of firms _. number -3.0 BANKING AND FINANCE Life Insurance (Association of Life Insurance Presidents} | Policies, new (45 companies) : 184, 846 205, 604 Ordinary _ .number of policies _ . 219, 049 221, 457 i 273, 769 i 187, 460 Industrial number of policies 817, 246 767, 121 870, 324 1 838, 577 1 679, 290 822, 459 200 Group number of contracts -. 456 176 192 183 182 Total number of policies and contracts. _ 1, 041, 691 1, 091, 963 U,112,802 1 866, 942 972, 901 1, 002, 292 Policies and certificates issued: Total policies and certificates number.. 1, 085, 721 1, 162. 144 11,326,623 1 918, 717 1, 005, 177 1,042,886 40, 794 214, 277 32, 452 Group insurance certificates... certificates.. 51, 967 70, 363 44, 213 Amount of new insurance (45 companies) : 1 560, 289 i 813, 479 625, 988 Ordinary .. thous. of dolls 629, SCO 576, 642 618, 041 227, 158 Industrial thous. of dolls.. 226, 523 235, 691 1228,008 1 185, 292 207, 217 56, 280 Group . -_ ..thous. of dolls 46, 119 262, 452 94, 445 100, 448 62, 353 843, 727 879, 324 Total insurance thous of dolls 965, 999 H,303,939 i 856, 379 906, 917 Premium collections (45 companies) : 124, 695 154, 534 Ordinary thous of dolls 127, 489 135, 395 125, 689 41, 247 73, 947 Industrial thous of dolls 45, 281 45, 920 43,988 5,007 7,683 Group thous of dolls 7,065 4,327 4,735 170, 949 236, 164 Total _ .thous. of dolls 177, 097 188,380 174, 412 Admitted life insurance assets (41 companies): 9,481 Grand total . _ .mills, of dolls 10,432 10, 333 10, 529 10,237 Mortgage loans3,913 Total mills, of dolls 4,532 4,587 4,463 4,405 1,527 Farm mills of dolls 1,588 1, 585 1,592 1,581 2,386 2,944 All other mills, of dolls 2,995 2,878 2,824 Bonds and stocks (book value)— 3,807 3,975 Total mills of dolls 3,987 3,941 3,957 1,043 920 Government mills of dolls 919 936 937 2,046 Railroad mills of dolls 2,172 2,161 2,173 2, 156 607 756 764 Public-utilitv mills of dolls 740 729 127 111 All other * mills of dolls 131 120 119 Policy loans and premium 1,229 1,122 notes mills, of dolls.. 1,219 1,240 1,210 639 Other admitted assets. mills, of dolls.. 694 696 715 681 123, 456 37,801 8,107 169, 364 I 9,546 3,961 1,533 2,428 3 811 1,026 2,057 620 108 i 1,129 645 (Life Insurance Sales Research Bureau) Sales of ordinary life insurance (81 companies): United States total thous . of dolls Eastern manuf.district.thous. of dolls.. Western manuf. district. thous. of dolls.. Western agric. district ..thous. of dolls. _ Southern district thous. of dolls.. Far western district thous. of dolls _ _ Canada total, 15 companies. thous. of clolls.. 656, 362 262, 334 145, 635 100, 446 81, 621 66, 326 40, 226 691, 520 283, 297 153, 194 102, 894 84, 462 67, 673 44, 251 879, 049 356, 488 189, 106 133, 132 112, 856 87,467 47, 366 601, 985 257, 734 133, 912 86, 167 66, 112 58, 060 36, 986 673, 855 293, 294 145, 932 95,686 77, 258 61,685 35, 525 572, 639 241,508 121, 408 85, 239 68, 874 55, 610 33, 907 640, 775 266, 359 140, 076 96, 704 78,835 58, 801 34, 744 45.2 410.1 44.2 -1.1 -2.0 44.9 42.2 1,213,414 507, 867 261, 484 181, 943 147, 709 114, 411 68,651 1, 275, 840 551, 028 279, 844 181, 853 143, 370 45.1 48.5 47.0 0.0 -2.9 44.7 45.6 -12.2 410.6 -11.8 43.0 -14.0 44.9 55, 351 43, 679 2,493 58, 697 44, 148 46.0 41.1 48,5 4H.9 413.8 49.0 411.0 416.9 46.2 -4.0 119,745 72,511 Banking Debits to individual accounts: 30,538 24, 813 27,439 32, 577 31, 258 New York City mills, of dolls 25, 790 28, 755 20,691 23, 581 20,098 24, 464 i 23, 457 Outside New York City mills, of dolls.. 23,754 21, 568 1,300 1, 251 1,664 1,454 1, 193 1,669 Bank clearings (Canada) mills, of dolls_. 1,579 Federal reserve banks: 449 540 435 711 365 645 Bills discounted mills of dolls 632 1,667 1,717 1,679 1,857 1,688 1,772 Notes in circulation mills, of dolls 1,731 670 602 645 699 607 677 Total investments mills of dolls 610 2,953 3,144 2,917 2,944 3,133 2,954 2,956 Total reserve mills, of dolls. _ 2,272 2,262 2,290 2,245 2,324 2,346 Total deposits mills, of dolls 2,281 75.0 78. 5 70.1 74.0 79.6 72.2 Reserve ratio per cent 73. 6 Federal reserve member banks: 14, 297 13, 949 13, 930 14, 569 14,200 14, 375 Total loans and discounts.. .mills, of dolls.. 14,314 5, 541 5,478 5,492 5,662 5,540 Total investments mills, of dolls 5,521 5,578 12,904 13, 034 12, 935 12,879 13, 082 13,033 Net demand deposits mills, of dolls.. 12,918 Brokers' loans, end of month: To New York Stock Exchange members thous. of dolls.. 3,111,177 3, 129, 162 3, 292, 860 3, 138, 786 3, 256, 459 3r 513, 174 3, 535, 590 By New York F. R. member banks thous. of dolls.. 2, 602, 196 2. 646, 653 2, 787, 761 2, 731, 940 2, 815, 045 3, 098, 192 3, 109, 331 1 1 Re vised. 419.2 41.7 -0.8 40.4 42.0 -1.4 -19.4 42.3 -6.7 47.8 41.2 46.1 40.7 42.2 40.2 42.6 43.1 -0.2 40.6 -7.9 43.0 -9.5 2,705 L_. .. ... i 49 TREND OF BUSINESS MOVEMENTS—Continued 1926 PER CENT INCREASE (+) OR DECREASE (— ) 1926 1927 The cumulative* shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" October November December January 4.75 4.50 4.00 5.25 4.50 4.59 4.44 4.00 5.25 4.50 5.15 4.38 4.00 5.25 4.50 4.28 4.13 4.00 5.25 4.50 Feb., 1927, from Jan., 1927 Feb., 1927, from Feb., 1926 January February 4.50 4.38 3.87 5.25 5.00 4.94 4.13 4.00 5.25 5.00 -3.5 -6.1 0.0 0.0 0.0 -16.4 -6.1 0.0 0.0 -10.0 3,778,155 3, 791, 144 3, 862, 801 3, 888, 740 3, 903, 214 3. 593, 530 3,625,038 +0.4 +7.7 February CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 1926 1927 7, 218, 568 7, 791, 954 Per ct. increase (+) or decrease (-) cumulative 1927 from 1926 BANKING AND FINANCE— Continued Banking— Continued Interest rates: New York call loans . Commercial paper 4-6 mos. N. Y. Fed. Kes. Bank .. Federal land banks Intermediate credit banks per cent _per cent.. per cent per cent .per cent.. 4.13 3.88 4.00 5.25 4.50 Savings Deposits New York State savings banks end of month thous of dolls Public Finance Government debt, gross. Customs receipts Total ordinary receipts Expenditures chargeable to ordinary receipts _ Money in circulation: Total.. Per capita +7.9 • mills, of dolls. _ thous. of dolls. thous. of dolls.. 19, 420 60, 969 192, 919 19, 389 52, 655 176, 002 19, 075 48, 431 657.. 096 19, 170 44, 695 169, 583 19, 153 43, 379 165, 735 20, 283 46,399 186, 283 20, 276 47, 615 179, 296 -0.1 -2.9 -2.3 -5.5 -8.9 -7.6 94, 014 365, 579 88, 074 335, 318 -6.3 -8.3 thous. of dolls ._ 367, 595 364,250 414, 032 304, 254 158, 506 232, 847 151, 877 -47.9 +4.4 384, 724 462, 760 +20.3 mills, of dolls.. dollars 4,933 42.53 4,949 42.62 5,001 43.03 4,713 40.51 4,779 41.03 4.740 41.24 4,814 41.84 +1.4 +1.3 -0.7 -1.9 33, 231 32, 694 45, 620 51,290 46, 941 43, 651 34, 176 -8.5 +37.4 77, 827 98, 231 +26.2 11, 650 15, 874 5,707 2,486 16,097 14. 158 2,439 2,691 16, 758 20, 579 8, 282 3,108 19, 996 24,530 6,764 3,174 10, 518 23,406 13, 017 3,233 16,084 21, 512 6,056 2,677 10, 822 20, 317 3,037 2.663 -2.8 -47.4 -4.6 +15.2 +92.4 +328.6 +1.'9 +21.4 26,906 41, 829 9,093 5,340 30, 514 +13.4 47, 936 +14.6 19, 781 +117.5 6,407 +20.0 1,763 1,830 2,069 2,465 2,035 2,296 1,801 -17.4 +13.0 4,097 4,500 +9.8 450 1,205 108 188 440 1,285 105 188 494 1,469 106 208 501 1,842 122 222 411 1,508 116 189 510 1; 696 90 249 447 1,282 172 188 -18.0 -18.1 -4.9 -14.9 -8.1 +17.6 +61.1 +0.5 957 2,978 162 437 912 3,350 238 411 -4.7 +12.5 +46.9 -5.9 ^thous. of dolls.. 330,900 340, 681 579, 850 242, 350 220, 215 thous. of dolls.. thous. of dolls. _ .thous. of dolls.. thous. of dolls.. 78,600 34,700 35, 750 8,150 79,050 56, 450 16, 425 6,175 178,900 73,000 30,900 19,200 87,350 47,600 31, 650 8,100 83, 715 46, 075 30 215 7,425 118,000 350, 483 24,240 595, 237 47, 492 429,304 52.383 610, 035 74,670 785, 649 24, 972 614, 549 3,800 414, 189 +42.5 +28.8 +89.7 28, 772 1, 028, 738 127,053 +341. 6 1, 395, 684 +35.7 276, 706 73, 776 330, 694 264, 543 353, 228 76, 076 507, 503 102, 532 540, 588 245, 061 545, 843 68, 707 381, 093 +6.5 +41.9 33, 095 +139. 0 +640. 5 926, 936 101, 802 1,048,091 +13. 1 347, 593 +241. 4 58, 490 291, 993 203, 909 391, 328 94, 969 334, 335 108, 511 501, 524 277, 978 507, 671 171,742 442, 807 126, 150 +156.2 +120. 4 288,039 +1.2 +76.3 297, 892 730, 846 386, 489 1, 009, 195 12, 190 147,311 55, 117 31, 212 80, 142 17, 260 27,821 162, 328 73, 058 230, 968 51, 068 49,494 43, 170 136, 656 78,624 50,000 65, 993 54, 861 9,346 309, 084 106, 350 68,588 74, 381 40, 286 131, 872 374, 775 150, 115 2,700 55, 763 70, 424 46, 670 206, 246 151, 052 43, 857 58,331 81. 229 23, Oil 149, 658 162, 237 6,930 42, 313 30,040 +41.1 +473. 1 +21.3 +150. 4 -7.5 +41.2 -96.1 -61.0 -25.0 +31.8 +74.8 +134. 4 69, 681 355, 904 313, 289 50, 787 100, 787 111,269 141, 218 +102. 7 683, 859 +92.1 256, 465 -18.1 71,288 +40.4 130, 144 +29.3 110,710 -0.5 6,000 3,374 33, 960 2,540 12, 967 415 2,827 4,712 5,460 35, 611 13, 485 110 36, 251 16, 840 20,494 5,200 12, 615 8,725 105, 000 1,861 2,310 +1.8 -65.5 +24. 9 +804.9 +787. 2 110,200 14, 476 11,035 71,862 -34.8 30, 325 +109. 5 20,604 +86.7 105, 076 42, 075 901,303 71,826 11,882 552, 787 221, 507 103, 690 3. 715, 281 Business Failures Liabilities (United States): Total commercial .thous. of dolls. _ Manufacturing establishments thous. of dolls .. Trade establishments. _thous. of dolls. . Agents and brokers thous. of dolls. . Liabilities (Canada) thous of dolls Firms (United States): Total commercial number Manufacturing establishments number. . Trade establishments . .number Agents and brokers ...number.. Firms (Canada) _ . . number Dividend and Interest Payments (For the following month) Grand total.. i Dividend payments: Total. Indus, and misc. corp Steam railroads Street railways New Security Issues Foreign governments ._ _ thous. of dolls Total corporation _ thous of dolls Purpose of issueNew capital thous. of dolls Refunding thous. of dolls. . Kinds of issueStocks ._ thous. of dolls Bonds and notes thous. of dolls Class of industryRailroads thous. of dolls Public utilities thous. of dolls Industrials . ._ thous. of dolls Oil.. thous. of dolls.. Land and buildings thous. of dolls.. Shipping and misc thous. of dolls.. Bond issues (Canada) : Govt. and provincial thous. of dolls,. Municipal .thous. of dolls. . Corporation thous. of dolls States and municipalities: Permanent loans thous. of dolls Temporary loans thous. of dolls.. New incorporations . thous. of dolls. 147, 247 i 183, 294 70, 149 i 30, 476 851, 660 739, 730 75, 050 67, 376 146, 457 79, 824 11, 536 23, 866 942, 925 1,040.096 2, 675, 185 -63.2 -62.1 +27.5 -54.0 -51.7 -64.8 thous. of dolls.. 1, 063, 056 1,068,596 1,077,819 1,085,170 1,097,642 1,011,088 1,019,486 thous. of dolls.. 619, 217 624, 230 632, 476 555, 756 567, 544 639,651 647, 762 +1.1 +1.3 +7.7 +14.1 -11.4 -6.8 +1.0 -50.8 Agricultural Finances Loans outstanding, end mo.: Federal farm loan banks Joint-stock land banks Federal intermediate credit banks War finance corporation i Revised, thous. of dolls thous. of dolls.. 84,665 9,154 87,977 8,421 92,434 7,671 93,013 7.310 82,424 6.815 79,935 14.637 81, 574 13.861 250, 670 42, 012 1, 682, 655 +29.7 +38.1 +13.2 -59.5 -54.7 50 TREND OF BUSINESS MOVEMENTS—Continued PER CENT INCREASE (+) OR 1926 1927 1926 DECREASE (— ) The cumulatives shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" Ootober November Decem- January ber February January 179. 36 100. 25 117.43 175. 39 101. 55 115. 29 181. 06 105. 66 119. 69 179. 90 92.40 120. 42 February Feb., 1927, from Jan., 1927 Feb., 1927, from Feb., 1926 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRU- ARY 28 1926 1927 Per ct. increase (+) or decrease (-) cumulative 1927 from 1926 BANKING AND FINANCE— Continued Stocks and Bonds Stock prices, average daily closing: 164. 63 25 industrials, average dolls, per share 25 railroads, average dolls, per share. _ 94.93 103 stocks, average .. dolls, per share-111.61 Southern cotton mill stocks dolls . per share _ _ 110. 67 Stock sales: N. Y. Stock Exchange thous. of shares_. 40, 213 Bond sales: Miscellaneous. thous. of dolls. . 217, 302 Liberty-Victory thous. of dolls. . 15, 870 Total thous. of dolls 233, 172 Bond prices: Higljest-grade rails. _p. ct. of par, 4% bond.. 89.52 Second-grade rails. __p. ct. of par, 4% bond_. 81.33 Public utility p. ct. of par, 4% bond.. 74.29 Industrial p. ct. of par, 4% bond.. 77.59 Comb, price index p. ct. of par, 4% bond.. 80.31 171. 95 97.43 115. 32 179.55 90.83 119.92 110. 79 110. 46 109. 72 110. 36 120. 49 120. 89 31, 183 41,891 34, 757 44, 163 39,088 35, 462 272, 138 17, 457 289, 595 299, 088 25, 403 324, 491 326, 065 25, 349 351, 414 282, 405 15, 288 297, 693 262, 897 29, 680 292, 577 218, 297 17, 938 236, 235 90.42 82.27 75.60 78.60 81.36 91.19 82.51 76.59 78.89 81.95 91.97 83.52 76.66 79.51 82.52 91.51 83.29 76.32 79.32 82.23 87.99 79.22 71.99 76.80 78.59 +3.2 +0.8 +4.0 +16.3 +3.8 -0.2 +0.6 -8.7 +27.1 +24.5 74, 550 78, 920 +5.9 -13.4 -39.7 -15.3 +29.4 -14.8 +26.1 481, 194 47, 618 528, 812 608, 470 40, 637 649, 107 +26.5 -14.7 +22.7 88.77 80.09 73.65 77.73 78.69 -0.5 -0.3 -0.4 -0.2 -0.4 +3.1 +4.0 +3.6 +2.0 +4.5 116, 758 +22.8 (For 1st of following month) 5 Liberty bonds p. ct. of par_. 16 foreign governments and city p. ct. of par.. Comb, price index, 66 bonds. _p. ct. of par.. Municipal bond yield percent.. Long-term real estate bonds issued: Grand total.. thous. of dolls.. Purpose of issueFinance construction.. _thous. of dolls.. Real estate mortgage thous. of dolls Acquisitions and improvements thous. of dolls Kind of structureOffice and other commercial thous. of dolls Hotels thous. of dolls . Apartments thous. of dolls __ 102. 88 103. 50 103. 31 103. 37 102. 35 102. 63 +0.1 +0.7 103. 80 99.41 4.16 103. 92 104. 04 100. 14 4.13 105. 23 100. 38 4.08 104.84 100. 27 4.08 103. 26 98.77 4.17 103. 14 98.81 4.15 -0.3 -0.1 0.0 +1.6 +1.5 -1.7 67, 545 40, 330 55, 715 67, 960 48, 798 53,927 41,153 -28.2 +18.6 95,080 24,015 19, 160 30,375 4,845 32, 805 8,100 36, 767 17, 480 17, 443 9,630 38, 767 8,663 32, 858 250 -52.6 44.9 -46.9 71, 625 8,913 54, 210 -24.3 27, 110 +204. 2 14,300 4,110 4,150 6,663 14, 700 4,522 2,750 +120. 6 +434. 5 7, 272 21,363 +193.8 14, 105 5,175 11,320 23, 910 22, 475 4,660 7,670 23, 295 4,050 11, 827 18, 708 925 3,780 27, 342 9,490 11,318 29, 550 1,650 3,258 -19.7 -77.2 -68.0 -36.7 -43.9 +16.0 56, 892 11, 140 14, 576 42,003 4,975 15,607 -26.2 -55.3 +7.1 104, 230 840 16, 738 88,307 836 17, 004 7,196 80,777 840 i 61, 952 14,890 65, 999 86, 054 796 19,351 3,087 74, 044 754 25, 416 3,851 -18.3 -10.9 160,098 146, 776 -8.3 -64.0 -83.8 -12.3 -37.3 44, 767 6,938 84,254 +88.2 17,304 +149. 4 102. 62 GOLD AND SILVER Gold: Domestic receipts at mint fine ounces _ _ 108, 741 Rand output thous. of ounces. 853 Imports thous of dolls 8,857 Exports thous. of dolls 1,156 Silver: ProductionUnited States thous. of fine oz 5,114 Canada thous. of fine oz__ 2,030 Mexico thous. of fine oz 9,612 Stocks, end of month— United States . thous. offineoz__ 543 Canada tthous. of fine oz._ 1,343 Imports thous. of dolls 5,098 Exports thous of dolls 7,279 Price at New York dolls, perfineoz . .545 99.74 4.14 6,235 5,945 7,727 22,302 2,414 5,637 1,639 9, 352 1 1 5, 196 1, 459 5,011 1,635 5,162 1,126 5, 562 5,043 1,636 8,707 —3.6 +12.1 -0.6 -0.1 10, 205 2,762 10,207 3,094 0.0 +12.0 .541 326 941 4,430 5,610 .535 !700 1,300 i 5, 157 7,388 .558 207 391 3,849 6,233 .579 927 749 5,763 9, 763 .678 1,025 819 8, 863 7,752 .668 -70.4 -79.8 -69.9 -52.3 -25.4 -56.6 -15.6 -19.6 +3.8 -13.3 14, 626 17, 515 9.006 13. 621 -38.4 -22.2 4,757 1,742 9,883 242 1,085 3,941 6,794 1 FOREIGN EXCHANGE RATES Europe: England France Italy Belgium Netherlands Sweden Switzerland Asia: Japan India Americas: Canada Argentina Brazil Chile 1 Revised. dolls, per £ sterling dolls, per franc dolls, per lire dolls, per franc dolls, per guilder dolls, per krone dolls, per franc 4.85 .029 .041 .028 .400 .267 .193 4.85 .034 .042 .139 .400 .267 .193 4.85 .040 .044 .139 .400 .267 .193 4.85 .040 .043 .139 .400 .267 .193 4.85 .039 .043 . 139. .400 .267 .192 4.86 .038 .040 .045 .402 .268 .193 4.86 .037 .040 .045 .401 .268 .193 0.0 -2.5 0.0 0.0 0.0 0.0 -0.5 -0.2 +5.4 +7.5 dolls, per yen dolls, per rupee .487 .362 .491 .360 .489 .361 .488 .364 .488 .363 .442 .367 .454 .368 0.0 -0.3 +7.5 -1.4 1.001 .928 .140 .121 1.001 .924 .130 .121 .999 .933 .119 .120 .998 .939 .117 .120 .998 .947 .118 .120 .998 .941 .148 .120 .997 .933 .148 .121 0.0 +0.9 +0.9 0.0 +0.1 +1.5 -20.3 -0.8 dolls, per Canadian doll dolls, per gold peso__ dolls, per milreis dolls, per paper peso. _ -0.2 -0.4 -0.5 51 TREND OF BUSINESS MOVEMENTS—Continued 1936 PER CENT INCREASE (+) OR DECREASE (— ) 1926 1927 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 26 to 134 of the February, 1927, "Survey" CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 Per ct. increase (+) or decrease (-) cumu lative 1927 from 1926 February Feb., 1927, from Jan., 1927 Feb., 1927, from Feb., 1926 1926 1927 416, 752 387,306 -12.6 -19. 4 804, 058 669, 111 -16.8 100, 619 12, 572 15, 586 9,011 21, 529 111,169 12,808 16, 124 8,555 34,608 105, 318 12,080 16, 548 6,774 37, 282 81, 229 41,897 72, 396 37, 917 73, 564 35, 667 87, 047 37, 646 48,078 5, 309 45,053 7,547 53,518 7,678 51,955 9, 412 119,241 37,008 6,890 109, 703 35, 155 7,486 128, 253 36, 854 10,790 162, 116 40, 407 16, 386 132, 612 33, 177 11, 571 134, 783 141, 138 138, 489 153, 157 201, 092 174, 020 50, 420 40, 659 64, 726 87, 762 49, 611 39, 620 65, 897 77, 776 49,388 31,809 64, 544 75, 109 44, 089 26, 960 66, 018 66, 887 48, 633 28, 826 71, 151 67,051 42, 110 35,998 72,844 63, 531 -11.2 +5.7 749, 741 793, 006 +5.8 140, 645 174, 647 153, 513 165, 069 +9.1 -5.5 October November December January February January 376, 848 373, 916 359, 349 357, 111 312, 000 118, 907 17, 343 17, 750 10, 286 33, 637 114, 759 15,004 16, 075 13,155 34,504 112, 853 14, 595 16, 528 9,648 32, 644 92,800 45, 787 88,564 44, 607 50,381 7,765 44, 587 7,237 112,720 39, 912 3,542 U. S. FOEEIGN TRADE Imports Grand total thous. of dolls By grand divisions: EuropeTotal thous. of dolls France. _ . thous. of dolls Germany ... thous. of dolls _ Italy thous. of doils United Kingdom thous. of dolls_. North America— Total . . thous. of dolls Canada thous. of dolls.. South America — Total thous. of dolls.. Argentina thous. of dolls. . Asia and OceaniaTotal . . thous. of dolls Japan _ _ thous. of dolls_ _ Africa, total _ thous. of dolls By class of commodities: Crude materials thous. of dolls.. Foodstuffs, crude, and food animals thous. of dolls.. Manufactured foodstuffs.. -thous. of dolls.. Semimanufactures. thous. of dolls.. Finished manufactures thous. of dolls.. . Exports Grand total, including reexports . thous. of dolls i By grand division: Europe — Total thous. of dolls.. France ...thous. of dolls.. Germany _ . thous. of dolls Italy ...thous. of dolls.. United Kingdom thous. of dolls.. North America— Total thous. of dolls _ _ Canada _.thous. of dolls.. South AmericaTotal thous. of dolls.. Argentina thous. of dolls. _ Asia and OceaniaTotal _ _ . thous. of dolls.. Japan _ _ .thous. of dolls Africa, total ._ thous. of dolls Total domestic exports only thous. of dolls.. By classes of commodities: Crude materials thous. of dolls. Foodstuffs, crude, and food animals thous. of dolls .. Manufactured foodstuffs... thous. of dolls. _ Semimanufactures thous. of dolls. _ Finished manufactures thous. of dolls. . Agricultural exports (quantities) : All commodities index number.. All commodities except cotton. index number _. 1 455, 399 i 480, 328 465, 053 1420,006 235, 57& 29,214 47, 004 14, 945 97, 631 247, 084 28, 852 42, 098 14, 195 110, 843 249, 377 27, 773 50, 772 17, 193 104, 578 211, 521 20, 301 40, 258 13, 238 89, 818 1 199, 796 20, 731 * 25, 538 14, 382 82, 159 171, 968 21, 724 22, 166 12, 823 75,834 102, 855 68, 377 100, 735 61, 816 90, 491 55, 177 88, 049 50, 717 i 84, 795 47, 437 82, 588 45, 976 32, 957 11, 060 43, 301 13, 289 43, 318 14,116 44, 721 15, 355 37, 775 14, 938 35, 265 10, 885 75, 417 27, 724 9,148 448, 883 79, 227 30, 159 9,967 473, 509 73, 821 28, 175 8,046 456, 111 66, 045 22, 700 9,670 412, 246 66, 168 23, 048 8,302 i 387, 762 56,063 18, 934 7,032 345, 819 167, 167 168, 602 159, 934 122, 501 1 113, 924 89, 317 35, 658 47, 527 53, 544 144, 987 37, 440 45, 001 61, 618 160, 848 27, 041 47,964 62, 643 158, 529 24, 406 41, 136 61, 355 162, 848 15, 845 i 47, 792 1 51, 852 i 158, 349 12, 172 41,837 47, 917 154, 576 373, 000 i 396, 836 1 1 352, 905 181 189 188 150 130 111 88 -13.3 +47.7 164 161 150 140 116 123 105 -17.1 +10.5 88, 127 131, 489 87, 657 154, 009 81, 775 139, 808 78, 806 85, 266 74, 707 79, 803 69, 736 85, 716 70,909 88, 931 -5.2 -6.4 +5.4 -10.3 CANADIAN FOREIGN TRADE Total trade: Imports Exports i Revised. thous. of dolls __thous. of dolls ,OF T5E DEPARTMEN11 OF COMMERCE *tV?fK tt^V. * . o%sof1;he / of ^oinmerce iiaving the most direct interest to reaclers of tte OF t jQd^v.be obtained by Addressing the Division of Publications, _ _^_ u. i_ _.i.i_ie£ j]pom ^e |foperi£ten4ent of Docuiaeuts, .Qoternment f ^.He* TVnWli«»«:fiTrYn.a ai*Ot i^icrfr.TiKwfeckrl fW»£» „ buUdtini ,c crops > •! obtained at $$ each: ^ ; >No. 321. Cement, Maspfi*$.V 9 V tXv$To, S??- Integral Wat^royfin^, ' , pelient Type^ (for us£ 'with Pqrtla t-mortar or \ ' it Forest Resources of the United * »es<|ur0qsja^e issuedan i %S beei of- ;PP-. ktf tlie tatep, 4 5 . - ms and Ware»' PfCt ii* #$$ VSW Engine Service-fe^jfet of Internal-combustion *V^^1&to£& catoc^Oite Made from California ortt^>^—*—-^-- **^-, life' pageB, j6i;iliust^ati<5njs^ 3 * plates. . fijw ' of tests1 to determine'the i^lktiye j^ertiss1 of ofe ri»ade la pe^roleuni "for tise;^^as ^iubri^a^i ^. in engines. ^ fftfc l^c <!M 3t^*f?\ %<:& '^*:r ^4 vv i;%K ^^ f: >ing .-OF ' aoa mtosps: v&i?i€>;a IP ftiii L%!*H «3Hfr- wor!4. B**t* ^«t* OS/Bulletin, ti$ prbduc- B,4^ i and "' American ^ Documented Seagoing Merchant Vessels of ^1* ^ ^v nrt'_L i." Ji- ark t 'J^*T „ .. ^ .. ' -rr Ctross Oveif,i °fcil*-.ci i •* <faf*tr |7. , i:iH-;67 pages. lislied . S-WMICCS. AVJJ; annual Subscription; 7oc. _ ,_ . ,Jtne IJnltedrState^, ^Tear^ JBaded^n«, 1926.^ "&W pages. Tfiii list of me^chl&nt ^esseLs,s which in* clude$,,5rach^' aA^ GoYernaient .vessels, 'fives jfche official,'nuta*- " berf ^sife^al letfe% nanier tonnage, ^home pori, and plac^ &ncf\v d^te"©f buHdipg'Of each vessel. , Fri^e|Jl.^ \ ' V lislied mo^thl|> iru the interest of radio setviee>, vontam^ listi « * ^ ' " ' 'yi aiid feieren,ces ^to ^ur^ent^adio'literacy re, f annual ^ubgcriptioiB^ 25#. r f , x > ' ^ ^, , 't Sfe ; ' r ' -" __; ; > ^^'' y < * >," /: ^' ^GE0^1|C^SUP^';:;^ \v ^ol^^i l>^' America, for 6 diagram^. Prieie, 0ttrfent Tables,; Atlantic 1928. v Serial 365; SS.page^,,! t \ TiAfe T^M^s, ^at^Jflc t)oast, 1" and IflaUd Groifes loir Year 1928*^ ferial, No; , _„ This material U teprinted from, tn^.^de Tables o|.«tJnite|i States,4nd foreign Pprts. Priee^' ,J "'" 3^ ?or Pneumatic ' jtflai-1§ j^venfete P^'^Vfl. ^^«&*as<i ^^:k> I* A or fee^^seiting iilaftte|Q v Oj^er^;*WJ §lfii4^toi? Scientific P^per, ^,> ^,TV *^ is<H »aS" ..:«?2 .^' rin r ofrt^e ^p^f^tif^s.iea&iitg to the €on>iitini;0f CircuW Pabex^Ho.hMC CFrom Thk >ns Jin .'., Price lOfr jtefr Sfcelf , by ^^^ „,„. ^o.*'12S; 11 pages, 8 illus1t»tio^sr.,, This public^tio^y f containa descriptions of ,the types oif ^nst^unients used Ip, £uis ^^ying. ^ ^' c" -> ' ^ ' " " - ' „ -^ '- * < ' ' • vs> ' ^ . ,T«b|ei lot* Albert Projection^ by 0se^ S. lAdarafc, ^e^ial publicartion ^Nfo/130; ii-f 24 pages,. h This publication contains projectiqn tables "for,-use in naaMn^^aps.qf t%e 0nite,d States^ the Philippine; Mandis,k Bawaii, the: P^aa^ina: CanaJ Zoiie, ^ot'tor Liqd^ana Alaska. Price, 5#. ^ - ^ \ u , > ; ( ' /- " s » ^ '* ;V:N \ , ' PATENT Q*JFK>E I » s 4V •, ,';.;- ., Classification Bulletin of the United States Patent Office. fo? ^7f 7 pages. - This 'bufletin contains ,the classsifieatioh o f , , ib|eeis of iav§nt|on revised, "^ "^^ ^.--M-^^^ T^^^I^. ;i1 -'^^eembeX 1926. \ , , >„. s^ v ^A>t . and Regulations in Regard to Attorneys before tli^ United States Jpatent /0%e^ lantor>,;l, 1927^ 4 gef. , These aire exira^ from the^ I^pes of Practice of ijie•m*"^- ft »j ' . * - ^*|J. j - 1Tfc_J.^^i v i ' rf^jBl* * . •*: n._Ji_^«i FUNCTIONSOFTIffiBEI^TMIN? ^t^£S^^rV/::i^ , - . - - ^ - HBRBfiKT"HOOVEK;,Sec^ete)ry of CoUpier^; ^ , ~;/.;,y\ ^tX'oVV^'% ^Assistant Secretary-el Gammksce rfpAVi4;Sol^|cff ^ '.? 'T>^\ J. WALTER BRANCH of I " Establishment pft ^. ._„_.._.._,., ,. . , m .„.,..< , vnaVieation^ inspection and re^istratifnt of "aircraft itnd licensing ;.^ enforcement«of%air Jria1Ke;j ules;s«investigaMojaofla^pi-; tfij >ncc^triagem§n|:of municipal, air ports^ fostering^ of air . > Ijoir.of iitformatip divisions of ;the^ of itese fub^etioiis ai?e Lighthouse Service, the vBurea^^^^tantiardsV and .the Cpa^t•* v x Bi^jG^bdetic Survey.) r ~ " \;;i,% v,^ - , ** ~- .;- '^-^<\^1^^-''; ;-->- 1 ^^^^ * - , ' -'' ^V"H fer^^mn^i^iOsn^^ V- ;/-. cti^^ „__ ^_______ ^-^ ~ fc is of pc^t^iio£|%In^a^&eis of instittttionsf liiii^es - -i^ A^" ^io > electfical *^>u6Mc u^^tieli *i "tresWery 2fye^;^'t 31 ; - ^(|oE^>p4iion o| si^tistids'-of j^eatoi^i^lic debt atift ta^lSiosJf MBQJ^^-"^ a»l^^dwc3Dfa^^ c$idn of timely ii|fi5t4^tfbi& concerning world ms^Keti^ ancl qpe?dngs tor Atoeift^tt pjrod^ets in fopign^oom'-'r s^ Arougll commercial attachfs, "tra^ ^omniissibjiers^" a&d t ,V v v&&^ ici and coo^cia^ive 'Offices m §3, eities> . , ;,". / 7 *^-%$j& iaai^enance of commodttyT i^eBijicjai, ana regipijal'^ iyi^bms tb^afford ; ^gecial sejcvice 46 ^American exporters ax$f |aTftxi?acttiJ^rs;' ^ "• " -. \ ^ - c ^ L „ '-' ' . *J "!,/*-5*' ^heebea^flation anS ^distribufeion^ of lists' vof possible b^ers v T gepts kfor Ame|ican products ,&. aH'^jgarts^of/ihe WQrM^tiSr :alii0B, 0f ."weekly lists of ^ofei&c^seiles opporttinities abrpadXi^^jblication $ statistics^^if^orts ancietxpoi' T& s^idjf of-the .processes of y^iae^ic tjrage and ^ BUREAU ~~ ^^4 "^' K. % quality, p^rfbrtnan,ee:? ©j practice; ; Jise^, by scientifi;c or t>mer , inslatuMons eat eon^ants.ind propeftieit of materials: ' ... .. i ^ s ? * > ' ___ ""at „ _rL _ ^ -., "iL. i^ „ J- j< iw^_t^-i«^ A^ ' ^ ^^W^^'^^1""- c^y«p|aAm^ of ^I^I;' itlata* B;.. \ ^of specificationjg, for' „_<_,„,,.„- _^>eeificati<ms 7, t . Ootlectron and disseiniuaMon 4ojf. infonnation , buildlnt codes ;$&& th^ ptoi^fitg<!ted[ construction < ,;r",'-,-: on/mtt business otgaoliia^ofis iii order to ^fdac^ •fee;/ ^ excessive ^iariet^ i|S commodities^ ^,/V ' ^^B^lfe c^ tmaestigatidnf ia^iKe mining, prepamilon; and >of 4 BHners&s^ fcbluding the fetttdy otrnjiie toz^r^: * met^bds ^and of to^^ved Methods i^ tbef|^o-^ * "" , arid ;>V5 bf j^adfo and settling international
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