Full text of Survey of Current Business : January 1926
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V.;J i '. 1' ."'\"^hr«afJtat ffielt^le/^ii1|tl^d-"^Ibtf4:fti ty£s&j^'p^te--, sotoe iiiore r^i^f^tativ^ ^ ;"'^; ^r/ ';^inw^^sin^the< :p^ea4)^';ax^ toes ;^i|tive^numTt)fe^?o^ w v : i^/ ' ^v' >V-"..;^V ' ^\''- v>' i-V<^^;v;x>^ ^'^'" '^,4' to^^W^oimtted , '"".-.l''** V „ • ^ - «y 4*." :-i r: ..i ^:- -:, i ' " b^:AJ>^NeE^fflEETS r: :^:* ^-, -^%i ^bers-appear;in ;a^ special issues, as in ^ble& 103 to «r rJ-^^TT^iy . _ ^0 ^ „, _.T _^ jrombes, thus aflowing easy ^; ¥M¥?V „„ ^v v* ,um t^y to^t^afehSte^bia^ia§|>1 udfe^TOe-rwar base ;f0i* till items for- , which • _jia' tL^LiU-i-' .-i^ Jt' *"' •"• *. * « , '<* -^/^li^t?^os^blf;^0^^^ rtte^fpr^^'' ""'^'' ; ; l present each mokth $ picture of It^busi^^s^tp^Oii x > s pt4 * lia^ ^|?^ ?S^ll^f x^S^bgr tl^i rhl MJ#riiat%li <?ipSR!$^^^ , - , . , - « ^-v»^ ^{^Mv*^^^^ to^ei^lBj^r; *' ;iVv" >': if-^?v**'^^^S^.^^^ 4: ; , ^ ^ " A > A' -"{':.^-^>: v |^^ - :i*;^t;^J: f ^ V '""*';,_ V 'V^r \V .y:*'.^' '^v;^ • 'J" ^< ti-**' V'".^ '.--^^xl;/1 '*v-! \j ''J" ,"'"?,-j ;• ^^'^ ^i\* ' V^v*'' 1 /"*" . - "'** , ?< i*\'"**:,',.'^V-V :in •4^ ' - *> * ^ '"^'r > / ( M - 1 ^l^ft^j^l£.^J l^*r;^,;'\^'' > "axe T . index ; JM^ in ^nlk-a ro^fe &f to* ^ , , for of ifidusfe^r i^j^^ the i^^ive tie liaise in the Mme.nnn^r as in , . ^fi|A^^^:\to^ ' * ^ fV ^ C";' 1.i>v\i;-|^''^i0y^Be^ i^^f^l>pted 'p'-^i^iy^tll r x f,;%^y \|i^ ......,.,^ , :v .v, ij^^^^at^^^ f:'r:V ; ' J^^'-'''\c^^~fe':C^^te'<i^ IK : ; 1 ^(&feCharts ns^d IB iihe , f are M the type termed "Eatio 1 '_' -^jtJlu*X^€lf^S^lv*^^*A11^1^^v-k^l"' .S^t^^it^l^ " «^'.3r is*^fl. 7 b^f t^ofeal' jourteala^ ^ad ilffl • 3rr>—. - -JT-" --^-f ^°W'^ S ?^^ %ffei©|ir %e^l§^;oC^elei^ve ^n5 ihat; pf aiiy dthar; 4^tiFfe f^^^^ro^il^Io0ation;on ;tM;digram; tiiaV " i^ fa ift p^i^^tliic^ftBe^iTa» itenx & -gitfe^ tt:e same , ,rv. „ ^,eurve- i& mear the bot"^efliQ' "o^a»s]^ic)i^Bl€3it ^n^or0>a|3^^^c^ii5^ ^Jflb^ i ^ ,. , - y %r *,» ^* :/ ''''•' ;•* ri&b^tlfly^v^ 4;, ^ v^ \'. ^ ;^^^ffi+*:&'ii^j^^ '. v< ^, jPhe diM0r^!fiiG0 OjSt^eeif this and th^ ©^(linaiTr fofm,,, ^ ^.ha^t Can^e^stade,^wtear Jbjr aiii example* if & ^ > lilteto, JSa^^ia; r^^i^e, iiui^>er;(^,40Q/in one, , _^^ t) ijicreas^Jfi&'.p^rrcBiitt iijt ^e-fdllowtng ^nQJith, °Aiife relative/n^mdJ^e^ J0rifli\be ^440^ and oid. ^u ordinary <* '^l^art wpi^ld^ 4)^ '|$$We<l 40 eqtii^i^tant v scale points iglior titan tijeJ^p^Sc^^i^^mopjUte. J4^o^tier move*/ lent ^rit3p? %it^elia%^© ^titpber bf^ s&j^ SO also ii^oreaf^ »1Q pierc^ On tie ^^Oir^liiitctiy \%jftlup^.e^tej| s&de this item* woulU rise only ,5 i j equidistant -fe^i^^^ v\fjie3reasr the previous itc^bi^ro^e, 40 Hoj^ttjj^ yet ^a^H i|boi^d"tie, ^cdte per^Bntage lncreas€k iri^^^ |> . C/ n --; ., X Jtaf5|eas^r yr at ^itcef; the ^^5re»9e; /^mrarajuywiuu th0 t»u^ .j^^^^ptsiri^M^ I'v^'LV^V^v^^^^ I T ; V v - ;"C >Xf' 6|>e£ of th> two l&e^ afe directly ilo Charts ^ unau^es, s, whfl0'&e wnn« vu« -ui itiiiuetiu ojitu ws,.uuiupi H ; : '^C')^\- x * ~u,. .'-^'J\ ' .' T/ija/*8uepresentprac«ca«ycomp^terfa?a/orf/iem^ , 1925, received after the , a complete picture of thatL month's operations, including umbers, cumulative totals, text, ^ ^^^*^ pnnfed i^.^^form^ ^ ^ ^«f^^r|Jto|^f its its close'but close, l»» .^^P^^M^M ^ \ end charf*, can noe'6epre/en/ed^n ' its close, ^X&**^^ '""" " ' and present " " almost ^ "every ' ' week the lot % '• ^ ' V UptoJanUpr''™ *,^*\' "x ^'^-'^^Mfeuw^f^ i ***"<*** ///if/» <viworm/r /? nnrtlriLlnr s.««w»»*«p;w msintMk v*»?«f*^ro hri*in*>**.ftntmnt *?» ^*»WP»' *^*»*,W-,V*fV?! * »•••» «»,j,w»^-w*v«*f»*f «•'^vrtV* ___ T anaifahta until from frnm 15 IK to #n 30 111 days d 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 JANUARY No. 53 1926 CONTENTS TEXT MATERIAL Page Preliminary summary for December 'Course of business in November: General conditions Summary of indexes of business Review by principal branches of industry and commerce. 1 6 7 8 BASIC CHARTS Business indicators Wholesale prices in December "Production, stocks, and unfilled orders... Employment in manufacturing industries 2 4 7 24 GENERAL TEXT TABLES Business indicators Wholesale price comparisons Business summary . Indexes of business (production, prices, sales, etc.) 3 5 6 25 TREND OP BUSINESS MOVEMENTS Textiles Metals and fuels . Automobiles and rubber. Hides and leather Paper and printing __ Buttons and glass Building construction and housing Chemicals and oils Foodstuffs and tobacco Transportation and public utilities Employment Distribution movement Banking and finance and foreign exchange United States foreign trade Canadian trade and industry Page 28 29 32 33 34 35 , 35 38 39 41 44 45 46 48 49 NEW DETAILED DATA Face brick, book paper, fuel consumption, miscellaneous. 22, 23 PRELIMINARY SUMMARY FOR DECEMBER Industrial production in December was at a higher rate than in November, with increases in the production of pig iron, steel ingots, zinc, locomotives and steel ships, deliveries of tin and silk, receipts of wool, and meltings of sugar by refineries, while smelter output of copper declined slightly. December output was also larger than in December, 1924, for these commodities except locomotive and ship construction and wool receipts. Unfilled orders for steel and locomotives increased considerably during December and in both cases were higher than a year ago. Concrete paving contracts were larger than in November but less than in December, 1924, while more patents were granted than in either the previous month or a year ago. With a large holiday trade, sales of mail-order houses and the 10-cent chains reached record levels, .and similarly postal receipts and bank clearings were considerably larger than a year ago, an increase of 14 per cent being made by mail-order sales over December, 1924, Loadings of freight cars were 76014—26f 1 seasonally smaller than in November, but showed a gain of 6 per cent over the corresponding month of 1924. Business failures made the usual year-end increase, but were smaller than a year ago in both number and liabilities. Interest rates averaged about the same as in November, but were higher than a year ago. Large increases over both periods occurred in the discounts of the Federal reserve banks, while reserves and the reserve ratio were lower. The amount of money in circulation increased over November and was larger than a year ago in total, but smaller on a per capita basis. Stock transactions were smaller in number than in November and in about the same volume as in December, 1924. The price movement in December was mixed. Foodstuffs and farm products except corn, cotton, and meat animals generally moved upwards, while metals, petroleum, coke, rubber, and textile and leather goods were generally lower. Prices of iron and steel and silk were important exceptions to the declines in their respective groups. BUSINESS INDICATORS: 1920-1925 [Ratio charts—see explanation on inside front cover. Except for "Net freight ton-miles," latest month plotted is November, 1925; October is latest plotted for "Net ^freight ton-miles/' while the curve on bank debits has been adjusted for normal seasonal variations and that on manufacturing productibn for the varying number Hi of working days] I920 1 1321' 1922 1923' I924'I925 RELATIVE TO 1913 AS 100 I920 1 1921 '1922' 1923 ' 1924' 1925 RELATIVE TO 1919 AS 100 100 PRICES 25 INDUSTRIAL STOCKS : i i _j INTEREST RATES, COMMERCIAL PAPER 80 200 WHOLESALE TRADE. 6 LINES DEPT. STORE TRADE (359 STORES) HOLESALE PRICES (DEPT.OF LABOR) MAIL-ORDER SALES (4 HOUSES) (DEPT. OF AGRICULTURE) GENERAL MANUFACTURING PRODUCTION (64 COMMODITIES) LUMBER PRODUCTION ( 5 SPECIES) 300 200 \ 100 80 60 40 h^"V> \ • ^^^ y«* ^V ^-— —-g^-— —^N5^ ^ ! ^ ^^ rs^r ^^ UNF LLED STEEL ORC\erpo AUTOMOBILE PRODUCTION ( PASSENGER CARS AND TRUCKS) FACTORY EMPLOYMENT NET FREIGHT TON-MILES 40 300 200 -BUSINESS FAILURES.PEFAULTED LIABlLiTIES" 1920 1921 ' 1922 1923 1924 1925 CONTRACTS £7 STATES) 1920 1921 1922 1923 1924 1925 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 separates out 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. Where available at the time of going to press, January 15, December indicators have been included, thus bringing this table up to date. It should be noted that the charts on page 2 show November data as the latest plotted, except for freight ton-miles, which shows October. 195$ 1924 MONTHLY AVERAGE COMMODITY 1990 mi 1922 1923 1924 Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 1913 monthly average- 100 Production: Pig iron Steel ingots ._ _ . Copper.. . ... Cement (shipments). ._ Anthracite coal . . ... Bituminous coal Electric energy (gross revenue sales) Crude petroleum . .... Cotton (consumption) Beef Pork Unfilled orders: United States Steel Corporation Stocks: Crude petroleum Cotton (total). Prlces:i Wholesale index Retail food Retail coal, bituminous .. . . . Farm products Business finances: Defaulted liabilities ._ . Price 25 industrial stocks Price 25 railroad stocks Banking: Clearings, New York City Clearings, outsideCommercial paper interest rate .. Distribution: Imports (value) „ .... „„_ Exports (value) j Sales, mail-order ... Transportation: Freight, net ton-miles __,, . 106 118 138 154 132 138 240 207 1 1 117 133 450 495 313 311 104 117 144 173 «7 122 118 155 131 138 2 127 63 70 78 85 56 130 185 216 237 160 160 159 149 160 160 160 152 tfO 158 167 179 144 156 167 168 144 158 162 170 143 161 248 96 151 256 97 Ifi3 272 101 134 280 102 129 300 103 157 300 106 160 305 111 302 297 70 305 317 70 297 323 71 256 293 72 276 ,329 313 353 80 76 298 319 79 342 348 79 233 193 322 219 179 262 218 156 271 218 164 248 228 184 255 234 203 309 250 237 464 252 216 396 264 226 473 123 136 131 139 153 151 161 149 120 135 99 108 93 119 283 178 105 119 113 54 64 38 107 99 87 312 189 97 113 117 87 114 80 131 58 85 349 224 109 126 130 130 144 120 153 104 118 407 295 117 130 160 101 122 128 164 99 101 434 285 99 133 151 80 112 124 228 100 106 397 288 94 146 103 97 124 134 231 101 121 427 289 114 167 118 98 124 133 139 89 106 462 272 106 149 152 116 141 131 74 97 116 506 273 114 134 191 132 166 144 69 97 130 522 287 127 146 199 126 149 134 81 94 98 480 261 118 105 152 139 166 145 139 93 94 457 292 125 12y lift 127 142 137 195 98 85 449 2«7 128 131 109 114 137 137 226 107 89 429 329 114 132 116 104 127 136 237 102 93 421 322 106 127 136 104 122 133 245 109 99 419 325 104 145 107 106 136 132 249 113 113 429 323 96 135 96 170 90 96 102 68 69 60 68 82 85 89 82 75 89 63 60 59 127 155 152 198 234 153 287 125 338 112 350 84 348 161 346 190 338 193 335 172 337 150 337 126 340 103 344 80 61 45 226 203 207 205 147 153 197 116 149 142 188 124 154 146 190 135 150 146 169 134 149 147 164 132 152 149 169 138 153 150 171 137 157 152 171 139 160 154 170 146 161 151 172 146 161 151 169 151 156 151 161 147 155 152 159 146 157 155 158 148 108 184 67 229 136 64 228 169 75 197 185 72 198 198 81 150 201 85 158 202 84 136 213 92 198 231 95 238 233 96 176 238 98 149 235 95 163 233 92 162 245 96 257 275 134 205 212 118 230 230 80 226 276 90 264 284 71 245 277 57 274 314 57 284 290 59 325 317 64 339 322 66 267 273 66 296 309 71 290 308 72 294 331 264 140 181 188 177 154 204 212 168 259 201 185 284 192 207 279 208 255 364 198 238 351 224 214 411 232 216 308 223 179 299 258 219 318 137 105 115 139 131 143 158 139 128 135 123 129 189 298 117 137 127 127 158 134 94 132 124 143 1919 monthly average— 100 Production : Lumber*. . Building contracts... ._ . _. Stocks: Heef Pork Business finances: Bond prices (40 issues). Banking: Debits outside New York City Federal ReserveBills discounted Total reserves .. . Ratio . 102 72 86 69 117 102 133 106 129 108 135 93 140 102 126 105 110 100 121 91 122 83 136 138 143 157 146 148 151 143 141 145 154 166 153 165 157 148 140 146 137 66 98 42 83 29 70 32 91 34 88 20 61 28 44 12 46 60 70 59 85 55 94 49 90 41 88 31 81 26 96 2 19 76 17 59 20 46 31 46 36 57 86 87 107 104 108 109 110 110 110 110 111 111 111 113 114 112 111 111 111 112 112 114 91 95 107 108 104 119 107 124 127 106 121 117 116 124 123 113 119 137 122 137 132 97 80 91 122 122 28 144 154 39 146 152 19 146 160 13 144 160 12 143 157 11 143 154 16 139 145 14 141 155 22 138 151 21 137 154 21 137 154 21 136 153 24 135 153 24 134 154 30 132 149 33 131 144 30 132 144 32 131 142 39 129 134 » 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 34,552,000 000 board feet reported by the census. WHOLESALE PRICES IN DECEMBER [Bars denote percentages of increase or decrease in the wholesale prices of specified commodities as compared with the same month of 1924 and 1923] COMPARISON WITH SAME MONTH 1924 DECREASE INCREASE COMPARISON WITH PREVIOUS MONTH DECREASE INCREASE COMMODITIES 20 JO Q IQ 20 50 40 30 20 10 0 10 20 30 40 50 COMPARISON WITH SAME MONTH 1923 DECREASE INCREASE 60 70 8050 40 30 20 10 0 10 20 30 40 50 60 70 10 Q 10 20 30 40 50 60 FARM PRODUCTS, AVERAGE ^RICE TO PRODUCER WHEAT CORN "POTATOES; COTTON COTTONSEED-CATTLE, BEEF HOGS LAMBS WHEAT, SPRING WHEAT. WINTER--CORN NO. 2 OATS--BARLEY RYE,N0.2 - TOBACCO. BUCKLEYCOTTON -~ - " — WOOL ^ GREASE { BOSTON)CATTLE, STEERS HOGS, HEAVY - (SHEEP, EWES"-SHEEP, LAMBS- — FLOUR, SPRING- — FLOUR, WINTER SUGAR, RAW SUGAR. GRANULATED- — COTTONSEED OIL BEEF, CARCASS — BEEF, STEER ROUNDS —• HAMS, SMOKED (CHICAGO)—COTTON YARNCOTTON PRINT CLOTH — COTTON, SHEETING WORSTED YARNWOMEN'S DRESS GOODS SUITINGS SILK, RAW HIDES, PACKER'S *—HIDES. CALFSKINS LEATHER, CHROME (BOSTON )-JJEATHER. SOLE, OAK BOOTS AND SHOES (BOSTONS-BOOTS AND SHOES (ST. LOUIS) COAL. BITUMINOUS COAL. ANTHRACITECOKE PETROLEUM PIG IRON, FOUNDRY PIG IRON. BASIC STEEL BILLETS, BESSEMER COPPER LEAD TIN- '- ZINC LUMBER, PINE, SOUTHERN LUMBER, DOUGLAS FIR BRICK, COMMON CEMENT - NEWYORK,)-- STEEL BEAMS ^RUBBER CRUDE — SULPHURIC ACID ™ 20 10 Q 10 20 SO 40 30 DECREASE INCREASE 20 10 0 I0 2° DECREASE 30 40 50 60 70 80 90 100 INCREASE * NO CHANGE ** NO QUOTATION, 20 DECREASE INCREASE 70 80 WHOLESALE PRICE COMPARISONS NOTE.—Prices to producer on farm products and market price of wool are from U. 8. Department of Agriculture, Bureau of Agricultural Economics; nonferrous nietala 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 4. PER CENT ACTUAL PRICE Unit COMMODITIES RELATIVE PRICE INCREASE (+) OR DECREASE (— ) (dollars) (1913 average=100) Decem- December, 1925, ber, 1925, from from Novem- December, 1925 ber, 1924 November, 1925 December, 1925 December, 1924 +8.9 -33.0 +214. 4 -27.5 -21.4 +15.5 +25.3 +15.6 188 121 332 151 127 104 142 199 194 114 338 145 128 105 140 208 178 171 107 200 163 91 112 180 +9.7 +5.0 -5.2 +4.7 +0.1 +21.1 0.0 -2.9 +1.9 -5.0 -3.9 +18.8 +4.5 +4.8 +1.5 -35.4 -2,9.4 -23.4 -26.1 +2.0 -1-5. 1 -21.4 +5.2 +9.2 +6.4 -0.3 177 174 135 107 114 135 189 162 216 124 135 145 196 194 182 127 112 115 163 189 158 220 118 130 172 205 185 179 197 159 150 221 186 186 280 112 119 162 205 8.895 7.788 .053 .072 .114 .183 .125 .207 +7.5 +3.6 +2.5 +3.9 +5.0 -4.5 -8.4 -0.7 +3.2 +1.3 -22.6 —26.4 -7.0 -7.1 +4.8 +35.3 186 198 115 120 140 137 109 170 200 205 118 123 146 131 100 168 194 202 151 169 158 141 95 125 .402 .061 .103 1.550 .800 3.600 6.811 .156 .192 .460 .460 6.40 5.13 .446 .068 .108 1.950 .775 3.690 6.321 .174 .209 .480 .480 6.25 5.00 -1.2 -3.2 -4.6 -3.1 0.0 0.0 +3.7 -4.3 -3.0 0.0 -2.1 0.0 -0.4 -9.9 -10.3 -4.6 -20.5 +3.2 -2.4 +7.8 -10.3 -8.1 -4.2 -4.2 +2.4 +2.6 164 182 176 206 254 233 180 89 105 171 105 206 163 162 177 167 200 242 233 187 85 102 171 103 206 162 180 196 176 251 246 239 174 95 111 i 178 107 [ 201 158 : 3.39 3.39 11.73 4.04 1.195 0.0 0.0 +10.1 +29.7 154 213 282 170 154 -35.3 -2.4 182 166 154 : 221 1 165 128 j \ November, 1925 December, 1925 December, 1924 Bushel Bushel Bushel Pound Ton Pound Pound Pound 1 488 756 1 984 181 27 64 .0614 .1066 .1215 1.537 .707 2.015 .174 27.87 .0618 .1051 .1267 1.411 1.056 .641 .240 35.48 .0535 .0839 .1096 +3.3 -5.2 +1.6 -3.9 +0.8 +0.7 -1.4 +4.3 Bushel Bushel Bushel Bushel Bushel Bushel Cwt Pound Pound Cwt Cwt Cwt Cwt 1.612 1. 711 .841 .403 .715 .857 25.00 .208 .54 10. 575 11.320 6.785 15. 250 1.768 1.796 .797 .422 .716 1.038 25. 00 .202 .55 10. 044 10. 881 8.063 15. 938 1.687 1.769 1.233 .598 .935 1.404 24.50 .238 .70 9.55 9.96 7.58 15.98 Barrel Barrel— -. Pound Pound Pound -- Pound Pound Pound. __-. 8.538 7.613 .040 .051 .101 .178 .143 .282 9.180 7.888 .041 .053 .106 .170 .131 .280 Pound Yard Yard Pound Yard Yard Pound Pound _. Pound Square foot. Pound Pair Pair .407 .063 .108 1.600 .800 3.600 6.566 .163 .198 .460 .470 6.40 5.15 3.39 Short ton 11. 29 Long ton Short ton__ 6.88 1.588 Barrel- "I'll 1.550 FARM PRODUCTS-AVERAGE PRICE TO PRODUCERS Wheat Corn Potatoes Cotton Cattle beef Hogs , ... Lambs - .-- FARM PRODUCTS-MARKET PRICE Wheat No 1 northern, spring (Chicago) Wheat, No 2, red, winter (Chicago) - .Corn, contract grades, 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) . - ; i CLOTHING Cotton varns carded white northern mulespun, 22-1 cones (Boston) Cotton print cloth, 27 inches, 64 x 60-7.60 yards to pound (Boston) Cotton sheeting, brown 4/4 Ware Shoals L. L. (New York) Worsted yarns, 2/32's crossbred stock, white, in skein (Boston) Women's dress goods, French, 35-36 inches at mills, serge Suitings, wool, dyed blue, 55-56 inches, 16-ounce Middlesex (N. Y.) Silk, raw Japanese, Kansas No. 1 (New York) Hides, green salted, packer's heavy native steers (Chicago) Hides, calfskins, No. 1, country, 8 to 15 pounds (Chicago) Leather chrome calf, dull or bright "B" grades (Boston) Leather, sole, 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 lump (Cincinnati),. Coal, anthracite, chestnut (New York tidewater) Coke, Connellsville (range of prompt and future) furnace — at ovens Petroleum, crude, Kansas-Oklahoma— at wells METALS Copper ingots, electrolytic, early delivery (New York) Lead pig, delivered, for early delivery (New York) Tin, pig, for early delivery (New York) Zinc, slpb, western (St. Louis) .. .. ! Pound Pound Pound Pound 24.75 .1435 .0974 .6214 .0861 22.26 20.00 35.00 .1387 .0931 .6195 .0857 22.96 20.90 36.00 .1426 .0921 .5572 .0737 +0.5 +0.6 +0 7 -3.3 -4.4 -0.3 -0.5 -3.0 -4.3 28 -2.7 +1.1 +11.2 +16.3 138 135 135 94 223 140 157 139 136 136 91 213 140 156 143 142 140 93 211 126 134 Mfeet Mfeet Thousand- 48.27 16.50 14.75 49.83 15.50 14.75 44.42 16.50 13.50 +3.2 -6.1 0.0 +12.2 -6.1 +9.3 210 179 225 216 168 225 193 179 206 0.0 0.0 -10. 4 0.0 -1.8 -2.5 +142. 5 0.0 163 129 106 70 163 129 95 70 166 131 39 70 22.14 Long ton Long ton... 19.88 Pig iron, foundry No. 2, northern (Pittsburgh) . . Pig iron, basic, valley furnace . 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 x 10 (Washington) Brick, common red, domestic building (New York) Cement, Portland, net without bags to trade, f. o. b., plant (Chicago district) _. 1 Steel beams, mill (Pittsburgh) ! Rubber, Para, Island, fine (New York) . __ _ Sulphuric acid, 66° (New York) Barrel Cwt Pound Cwt 1.65 1.95 .853 .70 1.65 1.95 .764 .70 1.68 2.00 .315 .70 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, and details of this summary are given in the table entitled "Indexes of Business," beginning on p. 23] YEARLY AVERAGE PER CENT INCREASE (+) OR DECREASE (— ) 1924 1925 NovemSepber tember October SepNovemtember October ber November, ]925, from October, 1925 November, 1925, from November, 1924 1923 1924 119 113 131 117 102 121 144 106 113 118 123 117 118 119 152 108 114 152 128 110 193 119 148 93 116 179 135 112 246 123 160 102 114 156 120 125 195 114 156 105 122 150 125 105 191 129 169 155 132 157 132 115 196 135 183 148 129 145 124 119 174 120 178 146 2. 3 7 6 -6.1 + 3. 5 11. 2 -11. 1 -2.8 -1. 4 + 13.2 7 1 + 3.3 4 8 10 8 + 5. 3 + 14.0 + 39.0 STOCKS (45 commodities; seasonal adjustment) UNFILLED ORDERS (relative to 1920) _ 119 74 135 52 134 46 135 43 135 53 149 52 132 53 133 58 + 0.8 + 9.4 1. 5 + 9. 4 SALES (based on value) : Mail-order houses (4 houses) Ten-cent chains (5 chains) Wholesale trade Department stores (359 stores) .. . . 99 165 83 124 105 185 82 125 106 169 92 119 141 203 95 141 131 199 84 141 113 191 94 122 170 237 101 165 144 220 88 145 15 3 7 2 12. 9 -12. 1 + 9.9 + 10.6 + 4.8 + 2.8 65 75 78 94 64 73 78 95 63 72 79 95 66 74 80 96 66 74 81 96 68 77 87 99 69 77 90 99 + 1.5 0.0 + 3.4 0.0 + 4.5 + 4.1 + 11.1 + 3. 1 CHECK PAYMENTS (141 cities— Seasonal adjustment) FACTORY EMPLOYMENT (1919 base) 69 78 85 98 « 103 93 109 84 110 81 109 81 110 81 127 84 132 85 127 86 -3.8 + 1.2 + 15.5 + 6.2 TRANSPORTATION : Net freight ton-mile operation _ Car loadings (monthly total) Net available car surplus (end of mo.) _ _ 115 119 25 108 116 139 118 119 70 131 156 59 115 112 1 111 125 123 85 133 159 66 123 117 83 -7.4 26 4 + 25.8 + 7.1 + 4.5 -25. 2 PRODUCTION: Manufacturing (64 commodities— Adjusted) * Raw materials, total Minerals Animal products Crops Forest products. Electric power Building (awards— floor space) PRICES (recomputed to 1919 base) : Producers', farm products Wholesale, all commodities Retail food Cost of living (including food) - i See p. 28, Jan., 1925, issue (No. 41), for details of adjustment. COURSE OF BUSINESS IN NOVEMBER GENERAL CONDITIONS Considering the length, of working time, industrial output in November was maintained at 2 per cent below high level recorded for the previous month, the general average for all industries being 16 per cent above November, 1924. Such basic commodities as pig iron, steel ingots, railroad locomotives, and zinc continued the increases recorded in October, while the consumption of cotton by textile mills, with allowance for the difference in the length of month, also continued its upward tendency. Although awards for new construction were smaller than in October, the November lettings were substantially ahead of November, 1924. Paralleling the high level of industrial output was an increase over both the previous month and a year ago of more than 10 per cent in the unfilled bookings of producers of iron, steel, and building materials. Stocks of commodities, after allowance for normal seasonal tendencies, showed little change from either the end of October or November, 1924. » Distribution of merchandise by rail and water, seasonal conditions considered, was larger than in either the preceding month or November, 1924. Sales of goods by mail-order houses and 10-cent chains, though seasonally smaller than in October, were well above a year ago, while department store trade was maintained at the October high level, the November sales volume being 3 per cent greater than that of a year ago. The usual seasonal decline from October occurred in the volume of wholesale trade, with the November total 4 per cent ahead of November, 1924. Although average wholesale prices were 3 per cent higher in November than a year ago, no perceptible change was noted from the quotations of the preceding month. Employment continued to show increases, with an advance of 6 per cent over November, 1924, in the number of industrial workers engaged and 9 per cent in the amount of pay roll. Sales of life insurance, though smaller than in October, were larger than a year ago. Bills discounted by Federal reserve banks increased during November and at the end of that month were almost three times as large as a year ago while total reserves and the reserve ratio continued to decline. Loans and discounts of member banks continued to mount while investments were declining. Interest ratesjbn call| loans j.averaged lower than in October and were almost twice as high as a year ago, while rates on commercial paper, though higher than a year ago, showed relatively little change from the preceding month. Dividend and interest disbursements scheduled for payment during December were considerably higher than in either the previous month or a year ago, while average prices for industrial stocks in November were lower than in October, though prices for railroad stocks averaged higher. Business failures were larger both in number and in defaulted liabilities than in either the preceding month or November, 1924. SUMMARY OF INDEXES OF BUSINESS PRODUCTION Manufacturing output in November, at 29 per cent above the 1919 average, with allowance for length of working time and 13 per cent above November of a year earlier, showed the following group increases over a year ago: Iron and steel, 24 per cent; lumber, 16 per cent; oils and chemicals, 9 per cent; paper and printing, 12 per cent; tobacco products, 9 per cent; stone and clay products, 9 per cent; textiles, 4 per cent; nonferrous metals, 5 per cent; and food-stuffs, 3 per cent, with a decrease from November, 1924, in the output of leather and its products. The production of raw materials was smaller in November than in either the previous month or a year ago, increases over November, 1924, in the out- put of mineral and forestry products being insufficient to offset declines in the marketings of animal products and crops. Declines from a year ago in the marketings of animal products were general with the exception of fish and milk, which showed increases. For crops similar conditions existed, with an exception in the marketings of cotton and miscellaneous products, which increased over a year ago. Among the minerals, increases over November, 1924, were recorded in the output of petroleum, bituminous coal, iron ore, lead, and zinc, with declines in anthracite coal, copper, gold and silver. For forestry products, increased output was registered in lumber and wood distillation while declines from a year ago were recorded in pulpwood and gum. RELATIVE PRODUCTION, STOCKS, AND UNFILLED ORDERS FOR MANUFACTURED COMMODITIES [1920 monthly average=100. This chart shows stocks of manufactured commodities only, while adjustment has been made for both stocks and production for the respective seasonal movements. Unfilled orders are principally those for iron, steel, and building materials. November, 1925, is latest month plotted, the production curve being based on preliminary figures, which were 3 points higher than the later figures presented in the text.] 160 8 COMMODITY STOCKS Stocks of commodities held at the end of November showed little change from the previous month and a year ago, after adjustment for seasonal conditions. Increases over November 30, 1924, in the holdings of raw materials for manufacture, amounting to 12 per cent and in the stocks of manufactured commodities of 10 per cent, balanced declines of 16 per cent in raw foodstuffs stocks and 14 per cent in inventories of manufactured foodstuffs. SALES The unfilled order index of iron and steel and building materials increased 9 per cent over both the preceding month and November a year ago. Iron and steel unfilled orders were 9 per cent higher than in October and 12 per cent higher than a year earlier and orders for building materials 7 per cent higher than in October and 2 per cent greater than in November, 1924. The index of wholesale trade increased 5 per cent over November of last year, the decline from October being largely of a seasonal character. All groups participated in the general increase over a year ago, the increases, in value of sales, ranging from 1 per cent for drugs to 13 per cent for meats. Sales of mail-order houses were 15 per cent smaller than in October, but 10 per cent greater than a year earlier, as seen from reports from 4 houses. Sales by 10-cent, music, grocery, drug, and candy chains also recorded larger volume than in November, 1924, while declines from a year ago were registered in the sales of cigar chains and shoe chains. Department store sales were also smaller than in October; but were 3 per cent larger than a year ago. Department store merchandise stocks increased during November both as compared with October and a year ago. PRICES Average prices received by farmers in November showed an increase of almost 1 per cent from October and 5 per cent over a year ago. Advances over the previous month were general, except for meat animals and cotton, which declined; while, as compared with the preceding year, prices for grain, cotton, and unclassified commodities were alone lower. Wholesale prices, as seen from the Department of Labor index, showed no change in the general level which prevailed during the preceding month but averaged 3 per cent higher than a year ago. Prices for food, fuel and lighting, metals and metal products, building materials and miscellaneous goods increased over October, but these increases were insufficient to offset the decline which occurred in the prices of farm products, cloths and clothing and house-furnishing goods. Increases were shown in the wholesale prices for producers' goods and consumers' goods over the preceding month, while raw products declined. Commercial indexes showed higher prices in November than in the preceding month. The cost of living index continued to rise, standing for November at something less than 4 per cent above a year ago, the principal increase, over both the previous month and a year ago, occurring in the cost of food. EMPLOYMENT Industrial employment was 1 per cent greater than in October and 6 per cent larger than a year ago, with all industrial groups showing increases over last year with the exception of food and tobacco products. The greatest increase in industrial employment was registered in vehicle factories and chemical plants with no change noted from a year ago in lumber plants. Reports from States and cities indicate that the increases in employment were practically general over the country. Factory pay rolls, while recording no change from the preceding month, were 9 per cent above a year ago, with the greatest increase, amounting to 20 per cent, in vehicle factories, principally automobile, and only leather pay rolls showing a decline from the previous year. REVIEW BY PRINCIPAL BRANCHES OF INDUSTRY AND COMMERCE TEXTILES Receipts of wool at Boston were smaller than in October, the decline in the total being due to smaller arrivals of foreign wool. As compared with November, 1924, wool receipts were smaller both as respects domestic and foreign wools. For the year thus far, an increase of about 2 per cent was registered over the first 11 months of 1924 in wool receipts. Imports of unmanufactured wools were larger by 5 per cent and 53 per cent, respectively, than in October and a year ago, while for the first 11 months the amount of wool imported was 34 per cent greater than the corresponding movement in 1924. The consumption of wool by textile mills was smaller in November than in the previous month, this decline being very largely due to the shorter month. Woolen machinery showed increased spindle-hour activity as regards all looms and carpet and rug machinery with declines from October noted in the activity of all spindles. Prices of raw wool advanced 6 per cent over October, but the prevailing quotations were 12 per cent below a year ago. No changes were recorded in the prices for dress goods and men's suitings, but declines of 3 per cent occurred in worsted yarn prices from October. Ginnings of cotton at the end of November were 13 per cent greater than a year earlier while the receipts of cotton into sight in November were 6 per cent larger than a year ago. Exports of unmanufactured cotton, though smaller than in either the preceding month or November, 1924, were 32 per cent larger for the calendar year thus far than during the same period of 1924. Consumption of cotton by textile mills was smaller than in October but 10 per cent larger than a year ago and, if allowance were made for the shorter month, the November totals would show an increase in activity in cotton mills over the preceding month. For the year thus far cotton consumption was 17 per cent greater than during the first 11 months of 1924. ceding month and a year ago, while the totals for the year thus far were 20 per cent greater than was registered for the same period of last year. Wholesale prices of raw cotton averaged 6 per cent and 14 per cent, respectively, lower than in the previous month and in November, 1924. Prices for cotton yarns and print cloth were likewise lower in November. SPINDLE ACTIVITY IN COTTON MILLS [November, 1925, is latest month plotted] RAW COTTON CONSUMPTION AND EXPORTS [November, 1925, is latest month plotted] 1921 Stocks of cotton held at mills and warehouses at the end of November were 14 per cent greater than a year ago, with an increase of 39 per cent over November 30, 1924, in the holdings at mills. The world visible supply of cotton was 17 per cent higher at the end of November than a year earlier. More cotton spindles were active in November than in the preceding month and, despite a decline in the spindle-hour activity, the percentage to capacity recorded an increase of 7 per cent over October and 9 per cent over November, 1924. Billings of finished cotton goods were smaller than in October but larger than a year ago, while the operating activity of cotton finishers showed similar comparisons. Exports of cotton cloth, though smaller than in either October or a year ago, were, for the first 11 months of 1925, 14 per cent greater than during the corresponding period of 1924. Fine cotton goods produced in the New Bedford district showed a decline from both the pre76014—26f 2 Imports of raw silk in November were 6 per cent smaller than in October but 7 per cent greater than a year ago, while deliveries of silk to consuming establishments were 11 per cent smaller than in the previous month and 27 per cent greater than a year ago. Silk deliveries during the first 11 months of 1925 were 38 per cent greater than in the same period of 1924. Stocks of silk held at the warehouses at the end of November were 16 per cent smaller than a year ago. The wholesale price of silk in the New York market, though averaging 2 per cent below quotations in October, was 6 per cent higher than a year ago. Imports of burlap were smaller than in October but larger than a year ago while for unmanufactured fibers imports were larger than in October and smaller than in November, 1924. In the case of both burlap and fibers the arrivals from abroad during the first 11 months of 1925 were greater than during the same period of 1924. 10 IRON AND STEEL Shipments of iron ore from the mines were more than twice as great in November as a year ago while for the calendar year an increase in this movement over the previous year amounting to 27 per cent was recorded. Consumption of iron ore, though smaller than in October because of the shorter month, was 23 per cent higher than a year ago, while for the 11 months ending November 30, the increase over the same period of 1924 amounted to 20 per cent. Stocks of iron ore were 2 per cent larger on November 30 than the holdings of a year ago. Production of pig iron in November showed no change from October, but was 20 per cent larger than in November, 1924, making the increase in the total for the first 11 months 18 per cent over the same period of 1924. Merchant pig iron production showed an increase in November both as respects the preceding month and a year ago. More pig iron furnaces were in blast at the end of November than at the end of either the preceding month or a year ago. PRODUCTION OF PIG IRON AND UNITED STATES STEEL CORPORATION'S UNFILLED ORDERS [November, 1925, is last month plotted] 14,000 600 The production of steel ingots was larger than in October, the November output being 25 per cent above a year ago. For the first 11 months of 1925, steel ingot production was 21 per cent greater than during the corresponding period of 1924. The output of steel sheets by independent mills, though 4 per cent smaller than in October, was 49 per cent ahead of November, 1924, while the total for the year through November was 34 per cent greater than for the same period of 1924. Unfilled orders for steel registered increases of 12 per cent and 14 per cent, respectively, over the preceding month and November a year ago. Corresponding increases in the forward business of independent steel mills were noted as compared with both these periods. Bookings of steel castings were 14 per cent greater than in October but 6 per cent smaller than a year ago, an increase of 14 per cent in the orders for miscellaneous bookings as compared with November, 1924, being insufficient to offset the decline of 23 per cent in railroad specialties. Bookings of fabricated structural steel declined from both the preceding month and November, 1924, but for the year thus far an increase of 13 per cent was registered over the first 11 months of 1924. New bookings of fabricated steel plate, although larger than in October, were smaller than a year ago. Wholesale prices for iron and steel averaged higher than in October. New orders for machine tools were 8 per cent greater than in October and more than twice as large as a year ago. New sales of foundry equipment also increased over both the previous month and a year ago. New orders for power pumps, although smaller than in October, were well above November, 1924. NONFERROUS METALS The mine production of copper was 4 per cent smaller than in October and 1 per cent smaller than a year ago, while the total output at the mines during the first 11 months of 1925 was 7 per cent greater than a year ago. Smelter production of copper, although smaller than in October, was 5 per cent greater than in November, 1924. The world production of blister copper was 4 per cent smaller in November than in the preceding month and 9 per cent greater than a year ago, while the total for the first 11 months was 6 per cent larger than the output during the corresponding period of 1924. Domestic shipments of refined copper in November were 8 per cent and 42 per cent greater, respectively, than in either the previous month or a year ago. Copper exports declined from both the preceding month and a year ago, while for the year thus far a decline of more than 1 per cent was noted from the corresponding period of 1924 in the copper shipments abroad. Stocks of refined copper held in North and South America were 7 per cent smaller at 11 the end of November than the holdings of the previous month. Stocks of blister, on the other hand, were 1 per cent greater than the holdings of a month earlier. COPPER PRODUCTION AND EXPORTS [November, 1925, is latest month plotted] at the end of October were greater than at the end of either the previous month or a year ago, while the price of lead at New York was higher in November than in either of these comparative periods. Consumption of Babbitt metal declined in November from the previous month. Shipments of fire extinguishers were likewise smaller than in October. RELATIVE PRODUCTION AND STOCKS OF ZINC [1913 monthly average=100. November, 1925, is latest month plotted] The consumption of tin as indicated by deliveries to mills was smaller in November than in either the preceding month or a year ago but the total for the first 11 months of 1925 was 17 per cent greater than during the same period of 1924. Stocks of tin held in the United States were 23 per cent and 9 per cent smaller, respectively, than the holdings at the end of October and a year ago. Tin imports in November were 29 per cent smaller than in October and 9 per cent greater than in November, 1924, bringing the total for the first 11 months 16 per cent above the imports during the same period of the preceding year. The wholesale price of pig tin averaged 3 per cent and 15 per cent higher, respectively, than the quotations prevailing in the preceding month or a year ago. The output of primary zinc was greater than in October, the November production registering an increase of 19 per cent over a year ago. For the first 11 months of 1925 an increase of 10 per cent was registered in the production of zinc. More retorts were in operation on November 30 than at the end of either the preceding month or November, 1924. Stocks of zinc continued to decline, the holdings at the end of November being 74 per cent below a year ago, while the price continued to average higher, the November quotations being 27 per cent above the prevailing prices of a year earlier. The output of lead, although 6 per cent smaller than in October, was 7 per 6ent greater than in November, 1924, while the total for the first 11 months of 1925 registered an increase in lead production over 1924, amounting to 9 per cent. Lead ore shipments from the Joplin district were greater in November than in either the previous month or in November, 1924, the total thus far this year being 29 per cent above the corresponding total for 1924. Stocks of lead held in the United States and Mexico FUELS The output of bituminous coal in November, although 5 per cent smaller than in the previous month, was 21 per cent greater than a year ago, while for the year thus far the output was 8 per cent larger than in the same period of 1924. Bituminous coal exports were 19 per cent and 52 per cent larger, respectively, than in either the preceding month or a year ago. Consumption of bituminous by vessels, although smaller than in October, was 18 per cent greater than in November, 1924, with the total for the first 11 months 10 per cent greater than for the same period of the previous year. PRODUCTION OF BITUMINOUS AND ANTHRACITE COAL [November, 1925, is latest month plotted] 12 Mine prices for bituminous coal were 6 per cent and 11 per cent higher, respectively, than in October and a year ago. On November 1, 1925, the stocks of bituminous in the hands of consumers were larger than the holdings a year earlier. The production of anthracite coal, though nominal, due to virtual shut down of the mines, was more than twice as large in November as in the previous month, but for the year thus far a decline in anthracite output from the same period of 1924 amounting to 25 per cent was registered. Wholesale prices for chestnut coal in New York markets averaged slightly higher than in October. Production of beehive coke as well as by-product coke registered increases over both the preceding month and a year ago, each of these types showing for the calendar year thus far substantial increases over 1924. Production of crude petroleum declined from October but was almost 10 per cent greater than in November, 1924. Imports, however, increased over October but were 26 per cent less than a year ago. Tank-farm and pipe-line stocks were 5 per cent lower than on November 30, 1924. Output of refined oils also declined from October, except lubricating oil, but increases were made over a year ago, except for Kerosene. Kerosene alone also showed the only decline in stocks from a year ago, large increases occurring in the other products. PRODUCTION OF BEEHIVE AND BY-PRODUCT COKE [November, 1925, is latest month plotted] 1925 AUTOMOBILES The production of passenger automobiles in November, although 17 per cent smaller than in the previous month, was 65 per cent greater than in November, 1924. For the first 11 months passenger vehicles produced were 15 per cent larger in number than during the corresponding period of 1924. Automobile trucks produced in November showed similar comparison with the previous month and November, 1924, while for the year thus far an increase in production amounting to 32 per cent was registered over the same period of the previous year. COMPARISON OF AUTOMOBILE PRODUCTION AND NEW BUILDING CONTRACTS [November, 1925, is latest month plotted. Cumulatives for 1925 are through November] 550 550 I I ' ' l92'5-'CUMuLAtivEs '-1926* CONTRACTS ( 27 STATES) AWARDED BUILDING CONTRACTS AUTOMOBILE PRODUCTION I 2 3 4 5 6 7 8 9 10 II YR. 1924-CUMULATIVES - 1924 TOTAL AUTOMOBILE PRODUCTION , I 2 3 4 5 6 7 8 9 10 II YR I I I 1 I I I I I I i I I I i I I I I -L3 The production of sole leather in November was 18 and 10 per cent smaller, respectively, than in the preceding month and a year ago but for the calendar year thus far sole leather output was 4 per cent larger than during the first 11 months of 1924. The output of oak and union harness leather, although smaller than in October, was 17 per cent greater than in November, 1924, but the total through November 30 was more than 2 per cent less than during the same period of the previous year. The production of skivers showed declines in November from both the preceding month and a year ago, while the total for the first 11 months was 2 per cent larger than for the same RUBBER period of 1924. Although unfilled orders for oak and Imports of crude rubber were 9 per cent larger than in union harness were 10 per cent smaller at the end of October and 12 per cent greater than in November, November than the forward business of the preceding 1924. For the first 11 months of 1925 rubber im- month, they were 5 per cent greater than on Novemports were 18 per cent greater than in the same ber 30, 1924. Exports of sole leather declined 39 per cent from period of the preceding year. The wholesale price of both October and a year ago while upper leather j rubber averaged higher than in either October or in shipments abroad, although 2 per cent smaller than November, 1924. in October, were 13 per cent greater than a year ago. HIDES AND LEATHER As against a decline of 15 per cent from 1924 in the Imports of hides and skins, although 36 per cent total exports of sole leather for the first 11 months of larger than in October, were 17 per cent smaller than this year, there was an increase of 7 per cent over the a year ago, an increase in the importation of goat- same period in the exports of upper leather. The skins, amounting to 79 per cent, being insufficient to prices for sole leather averaged higher in November offset declines in the imports of calfskins, cattle hides than in either the previous month or a year ago, and sheepskins. For the year thus far, imports of with no changes noted from either of these periods in hides and skins were 6 per cent greater than during the prices of chrome calf. the same 11 months of 1924. Prices of hides and The production of boots and shoes in November skins averaged lower in November than in either the was smaller than in the preceding month while boot preceding month or a year ago. and shoe exports were larger than in either the preceding month or a year ago. Wholesale prices for IMPORTS OF HIDES AND SKINS shoes, although somewhat higher than the quotations [November, 1925, is latest month plotted] of a year ago, showed no change from October levels. 80,0001 The production of glove leather in November was 3 per cent and 21 per cent larger, respectively, than in 60,000! the previous month and in November, 1924, with the 40,000 total for the 11 months ending November 30 being 9 per cent greater than in the same period of the preceding year. Stocks of glove leather in the process of tanning were greater than at the end of October while finished stocks were less. Stocks, both in process and finished, were smaller on November 30 than the holdings of a year earlier. Exports of assembled automobiles were 26 per cent and 111 per cent greater, respectively, than in the preceding month and a year ago, while for the 11 months ending November 30, shipments of automobile vehicles abroad were 63 per cent larger in number of cars than during the corresponding period of the preceding year, with trucks registering almost 100per cent increase. Shipments abroad of accessories and parts, although smaller than in the previous month, were 12 per cent greater than a year ago, with a similar percentage increase for the first 11 months as compared with the same period of 1924. PAPER AND PRINTING 1,000 Wood-pulp activity was slightly less than in October except for imports of mechanical pulp, while increases occurred over a year ago in all items except stocks of chemical pulp, imports of mechanical pulp showing a gain of 41 per cent over November, 1924, and production 14 per cent. Newsprint paper production, shipments and stocks were also less than in October, but about 10 per cent greater than a year ago except stocks at mills, which 14 declined 31 per cent. Imports declined from October but increased over November, 1924, while exports were much greater than in either period. The number of book titles published declined from both October and a year ago, while shipments of salesbooks, though less than in October, were 13 per cent greater than in November, 1924. Boxboard activity declined slightly from October except for unfilled orders, but increased over a year ago except for stocks and rate of operation. Other classes of paper also had lower production and stocks than in October, while compared with November, 1924, production showed little change outside of an increase of 24 per cent in fine paper, while stocks were generally lower, an increase of 28 per cent in book paper stocks being a prominent exception. Total paper production was 8 per cent less than in October but 7 per cent above November, 1924, stocks declining from both periods. NEWSPEINT PAPER PRODUCTION AND MILL STOCKS [November, 1925, is latest month plotted] ago, production was 31 per cent higher and stocks 10 per cent lower. BUILDING CONSTRUCTION Building costs showed a slightly upward tendency in November. The awards for building construction declined from October in a seasonal movement with a 6 per cent decline in volume and 11 per cent loss in value, but November awards were 41 per cent higher than a year ago in volume and 22 per cent higher in value. Except for a decline of less than 1 per cent in public works awards, all classes of construction showed large increases over the 1924 awards. Although fire losses were 26 per cent higher than in October, a decline of 22 per cent was made from a year ago. DISTRIBUTION OF BUILDING CONTRACTS BY CLASS OF CONSTRUCTION AND GEOGRAPHIC DISTRICTS [Data are twelve-month moving monthly averages. November, 1925, is the latest month plotted] • i i i i i i . | • i j RESIDENTIAL GLASS AND BUTTONS Activity in the illuminating glassware industry was slightly less than in October but higher than a year ago except for production. Polished plate glass output declined from November but was 22 per cent .larger than a year ago. Data supplied by the Glass Container Association, covering 41 manufacturers of glass containers, follows: COMMERCIAL AND INDUSTRIAL 10 GLASS CONTAINERS 50 September 1 October Number of gross Net orders received (less cancellations).. Production Shipments.. . Unfilled orders, end of month.. Stock on hand, end of month 2, 202, 342 1, 759, 926 1, 916, 142 6, 782, 599 4, 106, 947 2, 312, 196 2, 031, 620 1, 864, 985 7, 245, 400 4, 521, 215 DISTRICTS AND TOTAL VALUES FOR 1924 (IN THOUSANDS) November 2 3 ' *•••' 4 5 •••••• Q o oooo o 7 40 NEW YORK CHICAGO PITTSBURGH PHILADELPHIA BOSTON MINNEAPOLIS' 1,329^393 1,049.588 578,386 477.746. 352.195 88.284 2, 378, 457 1, 921, 818 1, 569, 815 8, 400, 276 4, 925, 878 i One firm missing in September. November output of fresh-water pearl buttons, at 47 per cent of capacity, showed a slight reduction from October production, while stocks increased slightly during November. Compared with a year 20 10 PUBLIC AND 1 *SEMI- PUBLIC i ' I i i I i i Ii i | i i Ii 1922 1923 1924 1925 15 The foregoing chart shows strikingly the course and €omposition of building by major districts since 1921, it having been constructed with a view to showing the ratio between each major group and the total as adduced from building contracts awarded in the 27 northeastern states. The first point plotted covers the average for the twelve months ending January, 1922; the second point the twelve months ending February, 1922, etc. By this means, it has been possible to show the changes occuring since the present building wave set in, both as regards the total and the respective important districts. PLYWOOD 1 Shipments Bookings Unfilled orders MONTH, 1925 Square feet of surface April May June . July August September October November. ._ 3, 610, 613 3, 678, 158 3, 855, 390 4, 456, 689 5, 014, 010 4, 571, 384 5, 512, 061 4, 932, 772 . 4, 685, 524 3, 980, 092 4, 420, 218 4, 123, 987 4, 179, 225 4, 973, 545 4, 832, 621 5, 214, 486 4, 164, 782 4,255,887 4, 440, 400 5, 002, 599 6, 416, 777 6, 627, 911 7,518,341 7, 657, 063 1 Compiled by the Plywood Manufacturers' Association from reports of 20 members (only 18 members in April), of which 2 or 3 report on shipments only. These data represent the business of building up veneers into plywood of from 3 to 8 thicknesses. Details as to kinds of wood and nature of cores are shown in the association's report. PACIFIC COAST PLYWOOD l BUILDING MATERIALS Bookings Lumber production in November showed the usual seasonal decline; compared with a year ago, southern pine output was almost stationary, redwood declined, while other species generally increased in output. Shipment trends were similar to production, except for redwood, where an increase in shipments was noted -over October. New orders for Douglas fir increased over [both the previous month and a year ago, but orders for other species declined from both periods. Stocks of southern pine lumber declined from October 31, but increased over a year ago, while western pine stocks exhibited the opposite trend. Hardwood stocks increased over both periods, as did unfilled orders. Lumber exports declined from both periods, in spite of increases in southern pine, while prices showed a rising tendency. The following tables present data on lumber and its products recently made available: HARDWOOD LUMBER 1 Production MONTH, 1925 Shipments Orders Millions of feet, board measure July 74 72 78 73 65 68 August September!. October November X)6cei"nbfli* 73 86 83 93 96 92 83 91 96 98 107 90 i Compiled from reports to the Hardwood Manufacturers' Institute by mills representing from 100 to 125 units each week, the monthly data being obtained by applying the percentages to normal production for every four or five weeks' period to an .average normal output of these mills of about 100,000,000 feet per month. SOUTHERN CYPRESS l Production Shipments New orders MONTH, 1925 Unfilled orders (nearest Wednesday to end of month) Feet, board measure July August September October November ._ _. . __ 26, 572, 046 27, 389, 583 27, 162, 513 25,100,543 30, 097, 126 27,409,819 27, 573, 995 27, 105, 875 28,402,591 29, 466, 083 31, 022, 307 35, 575, 209 24,782,801 25, 920, 000 25, 596, 377 30, 978, 501 37,800,029 i Computed from weekly reports of the Southern Cypress Manufacturers' Association, covering from 12 to 18 companies each week and prorated to a normal weekly capacity of 6,258,283 feet, the overlapping weeks in each month being also prorated to obtain a monthly figure. MONTH, 1925 \ Production 1 Square feet of surface August.. September October November 1 _. ... .. _, 5,808,842 7, 471, 473 7, 496, 259 5, 199, 519 8,360,591 6,696,078 Compiled by the Pacific Coast Plywood Association from reports of 6 mills. Flooring production and shipments declined from October but exceeded November, 1924, stocks on hand increasing over both periods. New orders and unfilled orders increased over October in oak flooring but declined in maple flooring, while all declined from a year ago except unfilled orders of oak flooring. Activity in the piano bench and stool industry declined from October but was larger than a year ago except in value of shipments. Bookings of architectural terra cotta increased over October and were 34 per cent higher in tonnage than a year ago. Paving brick production and shipments declined, both from October and from November, 1924, stocks increased over both periods, while new orders and unfilled orders declined from October but increased over a year ago. Cement production and shipments showed the usual seasonal decline from October and stocks an increase: compared with a year ago, production was larger, shipments smaller and stocks 62 per cent higher. Prices in the Chicago district showed a declining tendency. Concrete paving contracts awarded in November declined from October in a seasonal movement but were 16 per cent higher than a year ago, although for country roads less construction was let than in November, 1924. Enameled sanitary ware orders and shipments made the usual seasonal declines from October, while stocks increased, except for sinks. Unfilled orders for baths were reduced slightly during November, while for small ware an increase occurred. Except for declines in miscellaneous ware, increases of 15 per cent or more took place over November, 1924, in shipments, new orders and unfilled orders of enameled sanitary ware, while stocks on hand showed little change except for increases of 22 per cent in baths and 29 per cent in lavatories. 16 PRODUCTION, SHIPMENTS, AND STOCKS OF CEMENT IMPORTS OP POTASH AND NITRATE OF SODA TNovember, 1925, is latest month plotted] [November, 1925, is latest month plotted] 180 Data on vitreous china plumbing fixtures as compiled from 35 manufacturers are presented below: VITREOUS CHINA PLUMBING FIXTURES [Number of pieces, A grade or regular selection] Orders received MONTH, 1925 July . August.. _ . _. September October _ November _ Shipments 199, 909 207, 977 191, 831 221, 906 298, 108 266, 987 277, 822 243 515 246, 596 196, 590 Unfilled orders 514, 062 444, 217 392 533 367, 843 469 361 Stocks on hand 303 271 308, 105 323 023 367 843 422 373 CHEMICALS AND OILS Imports of potash and of nitrate of soda were larger than in October, but potash imports were less than a year ago. Exports of sulphuric acid and coal-tar dyes were slightly larger than in October, but fertilizers and vegetable dyes were less. Compared with a year ago, both classes of dyes had much larger exports, but sulphuric acid and fertilizer shipments were smaller. Data on acid phosphate are shown in the following table: ACID PHOSPHATE 1 August, 1925 September, 1925 October, 1925 Except for a rise of 13 per cent in the index for essential oils, prices of oils and chemicals were generally lower or stationary as compared with October, but either stationary or higher as compared with a year ago, except for crude drugs. Wood chemical operations were on about the same scale as in October, while the price of acetate of lime rose and stocks declined. November operations were higher than a year ago, exports of acetate being 30 per cent larger, but methanol exports were 75 per cent smaller. Stocks of wood at chemical plants were 18 per cent lower than a year ago. Production and stocks of refined methanol declined from October. Receipts and stocks of both turpentine and rosin at southern ports declined from November, 1924, the November receipts being also less than in October. COTTONSEED OIL, PRODUCTION AND STOCKS [November, 1925, is latest month plotted] Novem- November, 1925 ber, 1924 Reduced to tons of 16 per cent available phosphoric acid, which is equivalent to 320 pounds per ton United States: Production ._ 285,003 Stocks, end of 2month . 1, 471, 305 Consumption . 122, 710 Northern States: 3 Production Stocks, end of month Consumption ._ . Southern States: 2 Production Stocks, end of month Consumption 2 301, 347 1, 476, 664 335, 804 373, 177 1, 695, 542 185, 906 348,033 1, 785, 106 227, 176 291, 378 1, 619, 464 118, 204 105, 836 604, 244 92, 724 92,643 424, 753 280, 747 139, 765 504, 245 66, 948 131, 374 554, 692 62, 002 116, 666 527, 519 75, 327 179, 167 867, 061 29, 986 208, 704 1, 051, 911 55, 057 233, 412 1, 191, 297 118, 958 216, 659 1, 230, 414 165, 174 174, 712 1, 091, 945 42, 877 1 Compiled by the National Fertilizer Association from reports of acidulators representing about 80 per cent of the industry; figures in greater detail are obtainable from the association. 2 Figures computed by adding production to stocks at the beginning of month and subtracting from this sum the stocks at the end of the month, hence indicating disappearance or shipments from plants, and not, actually, fertilizer used. s The south line of Virginia projected westward marks the division between the Northern and Southern States for the purposes of this report. Both imports and exports of vegetable oils increased over October, while imports alone increased over 17 With a decline of 24 per cent in the rye crop from November. 1924. Oleomargarine consumption was 1924, November figures on receipts and exports showed slightly less than in October but 46 per cent greater than a year ago. Cottonseed oil production increased large declines from a year previous, while the price of slightly over October and was also larger than a year rye was 35 per cent less. Total grain exports in ago, stocks of both cottonseed and oil on hand No- November were 64 per cent below a year ago, with a vember 30 being greater than a year previous. Flax- 20 per cent loss for the 11-month period. The rice crop of 1925 was estimated at slightly seed receipts and shipments in the Northwest were I considerably smaller than in November, 1924, while larger than the 1924 crop. Receipts, shipments, stocks were higher. Linseed oil shipments from stocks and exports were from 36 to 81 per cent less Minneapolis declined from a year ago while oil-cake than in November, 1924, while imports were 59 per cent larger. shipments increased. CEREALS Car-lot shipments of potatoes and citrus fruits The December estimate of the wheat crop of 1925 were much smaller in November than a year ago, but showed a reduction of almost 200,000,000 bushels from increases occurred in shipments of apples and onions the previous year's outturn, due to the smaller winter and in receipts of hay. Cold storage holdings of wheat crop. Receipts and shipments of wheat con- apples were 22 per cent larger than a year ago. tinued to run far behind the 1924 figures in November MEATS AND DAIRY PRODUCTS and the visible supply in the United States was 53 per cent less than a year ago, though the Canadian The movement and slaughter of cattle and calves supply was 35 per cent greater. Exports of wheat in in November declined both from the previous month November were 83 per cent less than a year ago in and a year ago, the decrease from October being the the United States but 29 per cent greater in Canada. usual seasonal trend. Exports of beef were less than Wheat prices advanced over the October averages and at either period also, while storage holdings, though were higher than a year ago. Flour prices also in- increasing seasonally, were about half as large as on creased over both periods. J November 30, 1924. Cattle and beef prices averaged The December estimate of the 1925 corn crop less than in October but higher than a year ago except showed an increase of almost 600,000,000 bushels over for carcass beef. the small 1924 crop. The visible supply on November Hog movement and slaughter increased seasonally 30 was 62 per cent less than a year ago, but receipts, but was less than a year ago except for stocker and shipments, exports and grindings were all larger than feeder shipments. Exports of pork products declined a year ago. Although the price of corn averaged from both previous periods while storage holdings slightly less than in October, it was 25 per cent below were 10 per cent less than a year ago. Lard output the November, 1924, average. The oats crop of 1925 was estimated at slightly less declined 18 per cent from November, 1924, and storage than the 1924 crop. Receipts and visible supply of holdings and exports also decreased from that period. oats in November were less than a year ago, exports Hog and pork prices were slightly lower than in were 79 per cent greater, and the price 23 per cent less, October but higher than a year ago. Sheep movement and slaughter also declined seasonthough showing almost no change from October. ally from October and was less than a year ago except The barley crop was estimated in December as 22 per cent larger than a year ago. Receipts, exports, for slaughter, which increased 47 per cent. Storage and pi ice were all much less than in November, 1924. holdings of lamb and mutton were about half the stocks on November 30, 1924. Prices of sheep inWHEAT RECEIPTS, EXPORTS, AND VISIBLE SUPPLY creased both over October, 1925, and November, 1924. [November, 1925, is latest month plotted] Poultry receipts and storage holdings increased seasonally over October but were both slightly less than in November, 1924. The fish catch also declined from October but was 8 per cent larger than a year ago. Storage holdings of fish on November 15 were 6 per cent larger than a month previous but 12 per cent less than a year ago. Butter receipts and stocks underwent the usual seasonal decline, stocks being 26 per cent lower than a year ago but receipts and prices were higher. Cheese holdings and receipts also declined seasonally from October but both were higher than a year ago, as well as the price. The seasonal decline also affected egg receipts and storage holdings, the former declining slightly from a year ago while the latter 1920 1921 1922 increased. 76014—26t 3 RELATIVE RECEIPTS OF BUTTER, CHEESE, AND EGGS AT PRIMARY MARKETS [1919 monthly averages=100. November, 1925, is latest month plotted] TOBACCO The December tobacco crop estimate showed a gain of about 100,000,000 pounds over the 1924 crop. Sales from loose-leaf warehouses were larger in November than in October and 68 per cent larger than a year ago. Tobacco manufacturing activities, as shown by consumption figures, were less than in October but about the same as a year ago except for a gain of 22 per cent for cigarettes. Exports of unmanufactured leaf tobacco were smaller than in October but larger than a year ago, while cigarette exports exhibited the opposite tendency. RELATIVE CONSUMPTION OF CIGARETTES AND CIGARS [1913 monthly average=100. November, 1925, is latest month plotted] 20 SUGAR, COFFEE, AND TEA SHIPPING The usual seasonal decline from October took place in sugar refining activity and in the movement of the Cuban crop, but receipts of the domestic crop began to come to market in large quantities in November. Sugar refining activities and the Cuban movement were both considerably larger in November than a year ago. Prices of sugar averaged higher than in October but were 30 per cent less than a year ago. Panama Canal traffic showed little change from November and was 3 per cent larger than a year ago. Sault Ste, Marie Canal traffic was larger than a year ago, both in November and for that portion of December during which the canals were open, the total traffic for the year 1925 showing an increase of 12 per cent over 1924. River traffic on both the Mississippi and Ohio Rivers was less than in October; Mississippi cargoes being 19 per cent larger than in November, 1924, and Ohio River cargoes 24 per cent less. Vessel clearances in foreign trade showed a decline from October, with little change from a year ago except for the larger proportion of foreign tonnage. Vessel construction in November was considerably less than in either the previous month or November, 1924. RAW SUGAR: IMPORTS, MELTINGS, AND REFINERY STOCKS [November, 1925, is latest month plotted] RAILROADS Coffee imports showed little change from either October, 1925 or November, 1924, but the visible supply in the United States increased 35 per cent over the end of October but was less than a year ago. Tea imports declined 15 per cent from October but increased over November, 1924. The surplus of idle freight cars increased during November but was less than a year ago; freight-car shortages were still further reduced and, owing to the increase in coal-car shortages, were about the same as a year ago. The decrease in car loadings from October was seasonal. Compared with a year ago, loadings were 5 per cent larger, declines occurring only in grain, livestock, and forest products, while ore loadings increased 83 per cent. The bad-order cars at the end of November increased slightly, but were 12 per cent less than a year ago. 19 LOCOMOTIVE SHIPMENTS AND UNFILLED ORDERS [November, 1925, is latest month plotted] Shipments of locomotives by manufacturers increased 24 per cent over October but declined from November, 1924. Unfilled orders of locomotive manufacturers increased over both periods, but fewer locomotives were under construction in railroad shops, especially as compared with a year ago. Freight and passenger car orders by railroads were less than a year ago, though freight-car orders were more than twice as large as in October. SHORTAGE, SURPLUS, AND BAD-ORDER FREIGHT CARS [November, 1925, is latest month plotted] tising in representatives cities, though 14 per cent larger than in November, 1924, registered a decline of 2 per cent from October. For the first 11 months of 1925 newspaper advertising was almost 5 per cent greater than during the same period of the preceding year. Magazine advertising showed increases over the previous month and the same month of 1924 with an increase of 3 per cent in the cumulative totals. Postal receipts in the 100 largest cities were smaller than in October but 13 per cent greater than in November of last year, with an increase of 9 per cent for the 11 months through November over the corresponding period of 1924. SALES BY MAIL-ORDER HOUSES AND 10-CENT CHAIN STORES [November, 1925, is latest month plotted] 70 DISTRIBUTION MOVEMENT November sales of mail-order houses were seasonally smaller than in October but registered an increase of 13 per cent over the same month of 1924. The total volume of sales for the first 11 months was 15 per cent greater than during the same period of the previous year. Sales by 10-cent store chains were likewise seasonally smaller, November business registering an increase of 11 per cent over the corresponding month of 1924. For the 11 months ending November 30, 10-cent chain store sales were 13 per cent greater than during the same period of 1924. National advertising appearing in metropolitan newspapers was smaller in November than in the previous month, while the general newspaper adver LIFE INSURANCE New sales of life insurance were smaller than in October but 25 per cent greater than in November, 1924, all types showing declines from the previous month except group insurance. Increases in the value of new insurance written in November as compared with the same month last year amounted to 14 per cent for ordinary, 38 per cent for industrial, and 188 per cent for group insurance. For the first 11 months of 1925 the value of new estates created, carried to maturity, was 20 per cent greater than 20 during the same period of the preceding year, the parisons. Interest rates on speculative funds in the greatest increase occurring in the group form of New York market were slightly lower than in Octoinsurance, which registered a 66 per cent advance over ber, but almost twice as high as in November, 1924. As compared with an increase of 20 per cent 1924. Rates on commercial paper averaged lower in in the value of new insurance written during the 11 November than in the previous month and were only months, there was registered an advance of only 15 35 per cent greater than in November of the previous per cent in the number of policies and contracts for year. Savings deposits continued to mount, standing the same period, indicating larger values per policy. at the end of November at 6 per cent above a year Premium collections of representative life insurance ago. companies were 1 per cent and 26 per cent larger, BILLS DISCOUNTED AND TOTAL INVESTMENTS OF FEDERAL respectively, than in the previous month and a year RESERVE BANKS ago, while for the calendar year thus far an increase of [November, 1925, is latest month plotted] 15 per cent in premium collections was registered over 3,000r the same period of 1924. Admitted assets of these companies were 1 per cent and 11 per cent greater, respectively, at the end of November than at the end of the previous month and a year ago. Sales of ordinary life insurance by geographical distribution showed declines in all districts from the preceding month ranging from 1 per cent for the far west to 8 per cent for the western manufacturing district, while as compared with a year ago, all districts showed increases ranging from 12 per cent for the western agricultural section to 24 per cent for the southern district. For the first 11 months of the Prices of stocks on the New York Stock Exchange year 1925 the greatest percentage increase over the showed a slight decline for industrials from the month same period last year was registered in the western of October and an increase of 3 per cent from the agricultural section, with the eastern manufacturing same month in average prices for railroad stocks. As district and southern sections next in order. compared with November, 1924, average prices for industrials were 41 per cent higher and for railroads BANKING 16 per cent higher. The volume of turnover on the Check payments both in and out of New York New York Stock Exchange was 71 per cent greater City were smaller than in October and larger than a during the first 11 months than during the same year ago. For the first 11 months of 1925 the dollar period of the preceding year. volume of check transactions in New York City was Bond prices were higher on the average than in 20 per cent greater than in the same period of the pre- either the preceding month or a year ago, the largest ceding year, while for the country outside an increase increase over these two periods occurring in the averof 13 per cent was registered. age prices for second grade railroad bonds. Highest Bills discounted by Federal reserve banks were grade rails showed relatively little change in price larger at the end of November than at either the end from October and a year ago. of the previous month or November, 1924, while notes Dividend and interest payments scheduled for disin circulation, though larger than at the end of Octo- bursement during December were 4 per cent and 7 per ber, were smaller than in November and the same cent larger, respectively, than for November and a month of last year. Investments of Federal reserve year ago. For the calendar year, payments to inbanks continued to mount during November, but at vestors were on the whole 6 per cent greater than the end of that month were 19 per cent smaller than during 1924 with the total payments of dividends 5 a year previous. The deposits in Federal reserve per cent greater, this ratio being applied to indusbanks as well as the Federal reserve ratio declined in trial corporations and steam railroads while a gain of November from the preceding month, with the ratio 8 12 per cent was made in dividends of street railways, per cent below a year ago. PUBLIC FINANCE Loans and discounts of Federal reserve member banks continued to mount, standing at the end of NoThe gross debt of the national government convember at almost 9 per cent above a year ago. In- tinued to decline and at the end of November was 4 vestments, on the other hand, were smaller in No- per cent less than a year ago. Customs receipts in vember than for either the previous month or a year November were 9 per cent smaller than in October ago, with net demand deposits showing similar com- but 21 per cent greater than in November, 1924. 21 For the first 11 months of 1925 customs revenues were 4 per cent larger than in the same period of the preceding year. Money in circulation, although greater than in October, was smaller in amount than a year ago. Agricultural loans outstanding increased during November and at the end of that month were considerably higher than a year ago for all agencies engaged in this function except the War Finance Corporation. NUMBER OF BUSINESS FAILURES AND DEFAULTED LIABILITIES [November, 1925, is latest month plotted] CORPORATE FINANCE The capitalization of new incorporations in November was more than twice as large as in October or in November, 1924, while, for the calendar year thus far, the aggregate new capital for new enterprises was 40 per cent larger than during the same period of 1924. New corporate securities issued in November although smaller than in October, were 27 per cent above November of the preceding year, while for the first 11 months of 1925, new issues were 12 per cent larger than during the same period of 1924. 1920 1921 1922 1923 1924 1926 Business failures were larger in November, both in point of liabilities and in number than either the preceding month or November, 1924. For the first 11 months, business failures were 18 per cent smaller in defaulted liabilities, but 4 per cent greater in number, respectively, than during the same period of the pre- COMPARISON OF WHOLESALE PRICES AND STOCK PRICES [Twelve-month moving averages. November, 1925, is latest month plotted] ISO 16 0 230 0115 0125 300 9250 o £240 j 1 J -U.S.DEPT. OF |LABOR—; WHOLESALE "RICEINDEXX PRICE, 25 INDUSTRIAL STOCKS 02|0 Q I05 " 7 n i i ni 1916 I PRICE/25 RAILROAD STOCKS \ 1917 *« 1918 ii o S5 I« ^5 o § - S» <I 1919 I 1920 I -I » i o §- >5. 1921 I - \ . 8 5 I ? 1922 I 1923 $ 1 I ! I 1924 § < I I I § 1925 I 22 ceding year. A decline in liabilities from 1924, amounting to 43 per cent in the failures of manufacturing establishments, more than offset increases of 11 per cent and 14 per cent, respectively, in the liabilities of failing mercantile establishments and agents and brokers. As in the case of liabilities, manufacturing establishments failing were smaller in number than during the 11-month period of 1924, the decline of 3 per cent being insufficient, however, to offset an increase of 8 per cent in the number of failures among merchants. month and November, 1924. The price of silver at New York continued to average lower. GOLD: SHOWING EXCESS OF IMPORTS AND EXPORTS [November, 1925, is latest month plotted] GOLD AND SILVER Receipts of gold at the mint were smaller in November than in either the previous month or a year ago, but for the calendar year thus far registered a decline of 3 per cent from the same period of 1924. The Rand output of gold was also smaller than in either the previous month or in November, 1924, but for the first 11 months of 1925 totaled slightly higher than during the same period of 1924. Gold imports were smaller than in either October or November, 1924, while exports of gold, although smaller than in October, were more than three times as large as in November, 1924, but the total shipments of gold abroad during the first 11 months were considerably in excess of the corresponding movement in 1924. As against an excess of $287,000,000 in the imports of gold for the first 11 months of 1924, an export excess of $136,000,000 was noted in the gold movement during the same period of 1925. Silver production, although 15 per cent smaller than in November, 1924, was 3 per cent greater than in October. For the first 11 months, silver output was 2 per cent smaller than in the corresponding period of 1924. Imports and exports of silver were each smaller than their corresponding movement of the previous FOREIGN EXCHANGE AND TRADE Exchange on England, Japan, Argentina, and Chile averaged higher in November than in the preceding month, while as compared with November, 1924, rates on these countries were 5 per cent, 10 per cent, 10 per cent, and 8 per cent higher, respectively. Other principal currencies showed no change from the prevailing rates in October with the exception of the French franc and the Brazilian milreis, which declined 9 per cent and 1 per cent, respectively, from the preceding month. These two currencies were likewise lower than in November, 1924, the French franc making a decline of 25 per cent and the milreis a decrease of 6 per cent. Imports of merchandise in the United States were 1 per cent and 2.7 per cent greater, respectively, than in October and a year ago, while exports were 9 per cent smaller in November than in either of these comparative periods. FACE BRICK [In thousands of brick] PRODUCTION SHIPMENTS STOCKS, END OF MONTH UNFILLED ORDERS, END OF MONTH MONTH 1922 1923 1924 1925 1922 1923 1924 1925 1922 1923 1924 1925 January February March April 291 265 481 557 617 464 655 710 454 470 574 680 548 508 670 777 171 214 426 563 410^ 381 614 748 326 384 609 777 283 436 732 902 1,773 1,764 1,806 1,717 1,845 1,916 1,925 1,871 1,716 1,753 1,657 1,678 1,801 2,068 2,034 1, 769 May June July August 677 738 639 633 801 762 735 833 805 747 775 743 833 817 837 812 697 701 617 631 802 716 636 762 837 710 697 714 890 875 822 733 1,500 1,466 , 336 ,234 1,776 1,858 ,939 ,882 1,473 1,448 1,510 1,503 September . October. _ November December 671 805 687 645 713 755 656 595 692 745 664 639 723 823 683 640 566 578 531 438 638 731 545 377 722 692 555 366 681 651 504 409 ,306 ,434 ,503 ,694 ,348 ,409 ,451 ,662 591 ~ 691 666 723 511 616 616 660 1,544 1,740 Monthly average 1 1922 1923 1924 1925 365 517 682 829 1,064 1, 311 1,563 1,686 888 1,040 1,145 1,264 728 •949 1,091 1,140 " 1, 688 1,589 1,503 1,477 1,082 1,109 1,106 1,025 1,561 1,391 1,281 1,319 1,194 1,109 949 936 1,200 1,153 1,007 892 1,457 1,475 1,433 1,803 1,522 1,693 1,713 1,978 1,050 923 834 783 1,064 1,039 899 755 808 781 716 644 929 903 835 770 1,576 1,736 859 1,244 956 966 Data compiled by American Face Brick Association, representing averages per plant in order to allow for the variation in number of firms reporting. About 70 firms usually report. 23 BOOK PAPER UNCOATED COATED Production MONTH UNCOATED COATED Un- Un- Un- Un- month month month month Pro- Shipfilled Pro- Shipfilled Pro- Shipfilled filled ShipOrders orders, orders, duc- ments Orders orders, duc- ments Orders orders, duc- ments ments Orders end end of tion end of end of tion of tion Per cent of normal production Per cent of normal production Days Days Per cent of normal production Per cent of normal production Days Days 1935 1924 January.. February March . . April 79 93 99 98 85 96 98 100 82 94 103 85 13 12 15 12 87 93 94 95 90 98 95 96 120 96 99 94 14 15 17 17 95 101 100 100 94 96 101 99 91 100 102 91 10 11 13 11 102 106 107 102 98 106 103 99 108 108 98 92 15 15 15 12 May June. . July August 98 97 82 86 94 88 85 89 88 74 81 88 12 9 9 10 99 95 87 96 96 94 90 93 89 83 88 94 16 13 12 13 95 88 76 70 93 86 77 73 79 74 73 75 8 8 8 7 95 90 87 91 89 87 80 88 83 83 81 90 11 11 10 11 September October November December 91 98 98 85 89 94 91 84 87 83 88 82 10 7 7 7 92 101 105 96 95 101 102 93 96 96 97 94 13 12 12 12 72 77 80 78 77 80 82 78 67 77 75 79 7 7 6 8 90 94 94 87 93 93 88 94 89 12 11 11 1 1 Compiled from weekly reports of the American Paper and Pulp Association from about 28 mills on coated paper and 10 mills on uncoated paper. FUEL CONSUMPTION BY RAILROADS1 1920 1921 1922 1924 1923 1925 1921 1922 1923 1924 1925 MONTH COAL CONSUMED (Thousands of tons) January February March April _ FUEL OIL CONSUMED (Thousands of gallons) 10, 304 9,468 10, 134 8,186 9,247 7,645 7,719 7,057 8,121 7,847 8,503 6,890 10, 375 9,470 10, 352 9,382 9,436 9,042 9, 048 7,672 9,210 8,011 8,119 7,350 134, 095 113, 908 117, 238 111,799 126, 796 107, 730 123, 779 116, 622 150, 297 135, 518 155,939 148, 006 188, 825 167,951 179, 274 165, 198 185,666 158, 451 169, 224 159, 209 May June. _ __ July August 8,924 8,646 8,970 9,526 7,158 6,793 6,895 7,272 6,967 6, 795 6,613 7,279 9,044 8,309 8,319 8,550 7,606 6,918 7,113 7,341 7,575 7,142 7, 392 7,841 110, 867 108, 901 114,911 114,819 118, 572 119, 598 120, 829 127, 178 155, 043 151, 70§ 160, 287 169, 216 162, 044 152, 366 160, 118 168, 284 159, 828 157,061 164, 215 169, 010 September October November December 9,109 9,883 10, 002 10, 265 7,407 8,680 8,121 7,732 7,855 9,280 9,765 10, 162 8,526 9,415 9,086 8,647 7, 853 8,574 8,360 8,944 7,831 8,992 116, 401 133, 312 124, 056 126, 668 138, 232 154, 749 155, 460 156, 545 175,944 198, 797 194, 378 184, 734 181, 983 194, 659 191, 671. 192, 764 182, 269 205, 153 9,451 7,644 8,006 9,123 8,159 118, 915 13C, 508 164, 989 175, 428 _ .- Monthly average i Complied by the Interstate Commerce Commission from reports of 174 steam railroads of Class I, not including switching and terminal companies. Fuel used in switching locomotives is not included in these reports. It is stated that about 3 per cent would be added to the coal consumption figures were these data included. A'oout 2 per cent of the coal consumed on railroads in 1923 was anthracite. MISCELLANEOUS DATA SALES OF AUTOMOBILE ACCESSORIES AND PARTS » FUE SALES i FUR PURCHASES 1 POLISHED PLATE GLASS PRODUCTION 2 MONTH 1924 1925 1924 1925 May June. July August . ... 1 _ 1925 1925 Relative numbers—Jan., 1925=100 1,298 913 1,878 1,666 1,390 5,360 2,063 1,274 1,490 5,742 2,344 1,934 7,077 6,281 7,718 7,188 7,603 7,424 8,280 8,361 8,674 8,568 9,774 9,848 100 101 138 183 100 86 95 107 100 121 159 193 100 122 162 149 .. 1,560 2, 257 3,980 3,900 2,325 3,226 5,422 4,758 1,302 1,354 1,230 2,159 2,066 2,015 2,212 2, 108 8,071 7,627 7,016 7,908 8,203 7,313 6,920 6,650 9,812 9,885 9,928 10,328 174 164 165 161 134 129 152 130 173 172 149 149 146 159 113 113 . _. 4,435 3,581 3,783 2,903 3,253 5,633 4,641 2,015 1,398 1,291 659 1,615 1,689 1,760 7,310 7,801 7,715 7,357 6,948 8,154 7,821 7,878 10, 297 10, 714 9,889 179 214 149 100 131 133 155 163 158 123 100 96 _ _ _ _ ... ... Acces- Service sories equipment 1,408 991 1,422 1,337 . __ _ , _ September October November December 1924 Thousands of square feet Thousands of dollars January February. March April 1923 OrigiReplacenal equip- ment ment parts Purchases of fur and sales of fur garments by 100 representative fur manufacturers in New York City, as compiled by Seidman <k Seidmant certified public accountants. *3 Production of polished plate glass compiled by Plate Glass Manufacturers of America, comprising practically the entire industry. Sales of automobile accessories and parts shipped to customers by 75 members of the Motor and Accessory Manufacturers' Association, the relative numbers being based on value, with January, 1925, as 100, 24 EMPLOYMENT IN MANUFACTURING INDUSTRIES BY MAJOR GROUPS I Drawn from data compiled by U. S. Department of Labor, and representing weighted indexes based upon number of wage earners in the respective industries in 1919, Average monthly employment 1923=100. November, 1925, is latest month plotted] . VEHICLES FOR LAND TRANSPORTATION AMPED AND ENAMELED WARE OTHER THAN IRON AND STEEL 100 25 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 6. PER CENT INCREASE (+) OB DECBKASE (-) 1925 1994 Maximum since Jan. 1, 1920 Minimum since Jan. 1, 1920 179 71 152 179 156 150 157 145 146 Total . Petroleum... ....__.....:... ....... 216 137 Bituminous coal ------121 Anthracite coal 241 Iron ore * 148 Copper 188 Lead. 136 Zinc 131 Gold 145 Silver 62 105 41 0 0 17 74 38 57 80 128 189 109 104 78 126 166 99 109 117 135 190 125 105 71 137 168 112 129 119 120 179 108 92 26 135 165 112 108 119 125 205 121 1 94 134 157 125 80 103 132 204 137 1 89 140 188 124 130 98 124 196 131 2 54 134 177 134 104 101 138 227 143 177 153 245 390 163 190 80 19 58 64 54 30 21 45 94 110 83 125 86 134 73 100 115 134 112 62 133 107 146 62 138 117 136 125 69 115 131 83 39 313 81 128 105 42 105 73 116 78 95 162 141 115 33 136 91 141 60 139 122 138 119 41 111 103 76 36 314 87 133 246 242 254 405 310 170 49 43 58 50 19 19 193 231 161 260 175 88 246 242 228 357 278 120 195 166 141 184 271 120 191 156 199 332 234 110 196 106 234 274 310 114 174 110 121 175 277 138 135 137 164 267 149 61 59 51 20 24 119 118 96 215 88 123 121 121 169 98 114 111 115 179 96 129 132 72 216 104 135 137 103 178 104 120 120 112 131 107 + 8. 7 -26.4 + 2.9 +5.3 + 8. 1 2.6 -26.8 + 11.5 133 137 129 130 147 166 115 121 191 164 195 132 148 71 64 77 54 32 57 63 69 92 69 71 70 37 114 114 112 92 95 135 87 102 148 134 164 118 120 116 121 112 111 105 144 96 113 165 143 163 123 121 114 110 100 101 106 131 81 102 166 128 152 106 100 122 122 106 97 118 158 89 106 174 148 183 123 118 132 137 112 108 130 166 96 118 188 164 193 132 148 129 124 97 105 131 152 77 114 181 140 160 116 130 -2.3 9. 5 13. 4 2. 8 + 0.8 8. 4 19. 8 3 4 37 14. 6 -17. 1 12 1 12 2 + 13.2 + 12.7 + 3.0 +4.0 + 23.6 + 16.0 4. 9 + 11.8 + 9.0 + 9.4 + 5.3 + 9.4 + 30. 0 November, Novem- Sep- October Novem- November, Sep1925, from 1925, from ber tember tember October ber October, 1925 November, 1924 PRODUCTION (Relative to 1919 monthly average as 100) RAW MATERIALS Grand total. ... - -7.6 7 1 MINERALS 6.1 -3.9 4 4 + 100.0 -39.3 - -4.3 -5.9 + 8. 1 20.0 + 3.1 +3.3 +9. 5 + 21.3 O7 9 + 107.7 0.7 + 7.3 + 19.6 -3.7 -15. 1 ANIMAL PRODUCTS (marketings) Total Wool* Cattle and calves Hogs Sheep Eggs* Poultry * Fish Milk (New York) + 3.5 +24.2 18.4 + 13.2 4.8 40.6 -3.5 21.4 40.0 + 125.9 -28. 7 --3.6 -7.7 + 0.3 + 7.4 + 3.9 A(\ 1 8 4. CROPS (marketings) Total Grains * Vegetables * . . Fruits* Cotton products * Miscellaneous crops * , _ -11.2 + 3. 8 48.3 -33.7 — 10. 6 + 21. 1 10.8 33.7 -14.2 4.9 + 2. 2 + 15.0 FOREST PRODUCTS Total Lumber . . . . Pulpwood ... Gum (rosin and turpentine) * Distilled wood 11. 1 -12. 4 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. . * Fluctuations between maximum and minimum due largely to seasonal conditions. 26 INDEXES OF BUSINESS—Continued Maximum since Jan. 1, 1920 Minimum since Jan. 1, 1920 153 233 189 115 183 1924 PER CENT INCREASE (-f ) OR DECREASE (-) 1935 November, 1925, from November, 1924 October November 149 160 161 79 181 133 113 151 73 176 133 128 150 72 170 + 0.8 + 13.3 -0.7 — 1. 4 -3.4 15 -15. 8 + 11.9 -14.3 + 9.7 144 154 180 83 158 140 133 159 87 171 142 120 201 77 172 145 134 202 72 172 +3.1 + 11.7 + 0.5 -6.5 0.0 + 0. 7 -13. 0 + 12.2 -13.3 +8.9 43 34 81 53 42 99 53 38 109 53 43 94 58 47 101 + 9.4 + 9.3 + 7.4 + 9.4 + 11.9 + 2.0 93 106 69 93 117 116 71 95 110 67 100 128 104 78 84 98 57 89 109 88 69 94 109 72 92 120 112 82 101 122 77 99 133 118 87 87 103 59 90 110 91 78 -13.9 15 6 23 4 -9. 1 17 3 22 9 -10. 3 + 3. 6 + 5.1 + 3.5 + 1.1 + 0.9 + 3.4 + 13.0 September October 91 73 89 58 86 134 145 118 90 165 135 148 130 86 160 135 152 134 84 155 162 236 202 115 177 84 70 68 56 88 127 119 116 100 157 143 145 168 93 157 116 112 153 40 32 25 46 34 97 120 129 136 135 133 150 *89 60 59 43 62 88 58 46 Novem- September ber November, 1925, from October, 1925 STOCKS (Relative to 1919 monthly average as 100) (Corrected for seasonal variation) Total .. -Raw foodstuffs Raw materials for manufacture Manufactured foodstuffs. . Manufactured commodities (Unadjusted index) Total -..Raw foodstuffs Raw materials for manufacture Manufactured foodstuffs . 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 I (Relative to 1919 monthly average as 100) MAIL-ORDER HOUSES (4 houses) CHAIN STORES: Ten-cent (5 chains) Music (4 chains) Grocery (27 chains) . _ Drug (9 chains) Cigar (3 chains) Candy (5 chains). Shoe (6 chains)—. DEPARTMENT STORES: Sales (359 stores) Stocks (314 stores) EMPLOYMENT ___ 170 49 106 141 131 114 170 144 -15.3 + 9. 9 366 214 318 187 193 282 186 84 55 119 109 106 109 72 169 110 210 145 137 189 124 .203 124 240 159 144 199 138 199 111 232 145 138 186 145 191 136 243 169 142 202 • 129 237 141 318 179 151 215 164 220 140 268 167 136 195 136 -7. 2 -0.7 -15.7 -6.7 -9.9 -9.3 -17. 1 + 10.6 + 26. 1 + 15.5 + 15.2 -1. 4 + 4.8 6 2 210 154 80 100 119 137 141 147 141 148 122 143 165 149 145 154 -12. 1 + 3.4 + 2. 8 + 4.1 87 97 84 80 93 91 100 88 95 89 95 84 82 88 97 86 81 94 92 101 89 95 89 88 85 84 88 95 86 82 93 91 101 89 95 90 97 84 85 91 92 87 86 94 95 100 97 100 96 92 92 90 93 95 90 87 94 95 102 98 101 98 95 95 89 93 94 90 89 93 92 103 98 100 100 95 94 91 + 1.1 -1. 1 0.0 +2.3 1 i 3 2 + 1.0 0.0 -1.0 + 2.0 0.0 -1. 1 + 2.2 (Relative to 1923 monthly average as 100) Number employed, by industries: Total, all classes , Food products Textiles Iron and steel .. .. „ Lumber Leather Paper and printing Chemicals Stone, clay, and glass Nonferrous metals 2 Tobacco products !.„ Vehicles Miscellaneous 1 Since Jan. 1. 1921. 2 Includes stamped and enameled ware and brass, bronze, and copper products, shown for the first time. + 5.7 -1. 1 + 4.7 + 8.5 0.0 + 1.1 + 2.0 + 10. 1 + 5.3 + 11. 1 -2. 1 + 11.9 + 7.1 27 INDEXES OF BUSINESS—Continued Minimum since Jan. 1, 1920 EMPLOYMENT— Continued (Relative to 1023 monthly average as 100) Amount of pay roll, by industries: Total, all classes- _ Food products Textiles--. Iron and steel Lumber - _ Leather Paper and printing Chemicals Stone, clay, and glass Nonferrous metals1 Tobacco products Vehicles Miscellaneous---. - _ _ PRICE INDEX NUMBERS PFR CENT INCREASE (+) OR DECREASE (•-) 1935 1924 Maximum since Jan. 1, 1920 1 September Octo- November ber September October November November, November, 1925, from 1925, from October, 1925 November, 1924 80 100 84 77 96 91 101 89 98 84 97 82 85 89 97 87 81 98 92 103 90 101 87 88 87 84 88 97 83 82 96 85 103 92 99 90 100 84 87 90 93 83 85 100 91 103 96 103 93 92 91 91 90 98 90 92 102 92 108 100 109 99 99 100 93 90 97 90 93 101 84 110 101 109 102 101 101 93 -1.0 -8.7 + 1.9 + 10 0.0 ' +3.0 +20 + 1.0 0.0 + 9.1 0. 0 + 8. 4 + 13.4 + 5.2 1.2 + 6. 8 + 9.8 + 10. 1 + 13.3 + 1.1 + 20.2 + 6.9 0.7 + 2. 2 + 27.6 3 5 + 5.2 15 8 + 5.6 +5.1 61 + 79.6 + 18.3 + 8.0 19. 6 + 10.4 0.0 -1.0 0.0 +1.1 FARM PRICES (Relative to 1009-1014 average as 100) All groups . Grain . . Fruits and vegetables Meat animals Dairy and poultry Cotton and cotton seed Unclassified . . WHOLESALE PRICES Department of Labor Indexet (Relative to 1013) All commodities Farm products Food, etc Cloths and clothing Fuel and lighting Metals and metal products Building materials Chemicals House-furnishing goods Miscellaneous ...... _ 285 283 373 186 215 304 180 110 88 108 91 122 76 74 132 140 113 115 133 175 100 138 150 109 121 142 182 102 137 147 108 115 150 179 106 144 148 142 143 141 178 90 143 135 152 141 154 171 90 144 138 194 136 162 144 95 248 243 248 346 281 203 300 213 275 208 138 114 131 171 162 109 155 121 168 111 149 143 148 187 168 128 171 131 171 116 152 149 152 188 162 127 171 132 171 120 153 150 154 190 163 129 172 134 172 123 100 160 160 189 170 127 174 136 168 135 158 155 158 190 172 128 174 135 168 138 158 154 160 188 175 130 176 135 166 142 + 8. 3 0.0 + 2.7 -0.6 + 3.8 + 1.3 — 1. 1 -1. 1 + 7.4 + 1.7 + 0.8 + 1.6 + 1. 1 + 2.3 + 0.7 0.0 -3. 5 -1.2 + 2.9 + 15. 4 247 244 249 249 311 218 375 272 198 118 146 135 122 103 152 165 149 130 158 153 164 123 180 166 152 129 161 156 172 130 181 165 153 131 163 155 176 124 182 166 100 131 169 100 169 155 184 172 158 133 166 102 162 147 185 174 158 135 168 160 160 139 187 176 + 3.3 0.0 + 3.1 + 1.5 + 3.1 + 1.2 + 3.2 1. 2 9. 1 1. 2 5. 4 + 12. 1 + 2. 7 + 1.1 + 1. 1 + 6.0 218 227 134 115 158 141 160 145 164 147 161 154 163 155 164 156 + 0.6 + 0.6 0.0 + 6.1 205 219 186 288 200 192 155 139 143 153 149 171 104 147 185 174 166 173 105 149 185 177 167 173 105 150 184 173 168 175 108 159 178 176 168 174 170 162 178 176 170 174 171 167 178 176 + 0.0 + 3.1 0.0 0.0 + 3.0 + 11.3 3.3 175 + 0.6 0.0 Federal Reserve Board Regrouping of Department of Labor Indexes (Relative to 1013) All commodities Producers' goods . Consumers' goods_. Total raw products Agricultural products Animal products Forest products Mineral products . Commercial Indexes (Relative to 1013) Dun's ( 1st of following month) Brads treat'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 Sundries . ... 'Includes stamped and enameled ware and brass, bronze and copper products shown for the first time. + 1.7 28 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 (August, 1925), in which monthly figures for 1924 and 1925 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. TREND OF BUSINESS MOVEMENTS 1995 Where available December data have been included in this table. The cumulatives shown are in most instances, however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on October pages 29 to 151 of the August, 1925, September "Survey '* PER CENT INCREASE (+) OR DECREASE (— ) 1924 Novem- November, ber, 1925, 1925, Decemfrom from ber Octo- November, ber, 1924 1925 November December October November 18, 754 5,501 13, 253 15, 626 11, 050 4,576 16,638 22.860 12, 299 10,561 16, 501 29,460 16, 629 12, 831 31, 873 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEMBER 30 Per cent increase ( -y or decrease (-) 1925 from 1924 1924 1925 -7.4 -29.5 +24.2 40.6 -23.5 -16.5 +5.2 +52.5 282, 555 183, 611 98, 944 236, 310 287, 258 126, 715 160,543 316,075 +1.7 -31.0 +62.3 +33.8 -8.1 -10.1 486, 662 481, 523 -1.1 TEXTILES Wool Receipts at Boston: Total thous. of lbs__ Domestic thous. of lbs._ Foreign _ _ thous. of lbs_. Imports, unmanufactured thous. of Ibs Consumption by textile mills, grease equivalent thous. of Ibs. . Machinery activity, hourly: Looms— Wide 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, Ohio, % blood, unwashed .dolls, per lb__ Raw, territory fine, scoured _ dolls, per lb_. Worsted yarn dolls, per lb_. Women's dress goods »— French serge dolls, per yd__ Men's suitings dolls, per yd.. 20,403 7,453 12, 950 18, 948 17, 406 5,885 11, 521 23, 920 16, 126 7,309 8,817 25, 170 44,383 47, 327 43, 471 54, 854 48, 380 51, 008 69 61 65 85 79 72 67 64 81 88 74 68 69 83 90 74 65 72 92 98 77 72 78 92 96 78 70 76 92 92 +2.8 +1.5 +7.8 +2.5 +2.3 -3.9 -5.6 -11.5 -9.8 -6.2 82 70 82 80 81 75 91 79 90 76 92 78 -1.2 -6.2 -10.0 -1.3 .50 .51 .54 .55 .57 .61 .70 +5.9 -11.5 1.28 1.650 1.32 1.650 1.32 1.600 1.30 1.550 1.48 1. 750 1.60 1.850 1.68 1.950 0.0 -3.0 -17.5 -13.5 .800 3.600 .800 3.600 .800 3.600 .800 3.600 .775 3. 690 .775 3.690 ,775 3.690 0.0 0.0 +3.2 -2.4 " Cotton 15, 603 13, 628 Production, crop estimate >» thous. of bales.. 13, 740 15, 386 14, 759 +4.2 +20.1 Ginnings (cumulative) thous. of bales.. 14, 826 12, 792 +23.7 +13.2 7,102 13, 858 12,238 11, 199 9,716 2,807 Receipts into sight. . thous. of bales. _ 2,478 3, 149 2,332 2,942 2,767 -6.6 +6.3 10,783 13, 346 Imports, unmanufactured bales 48, 663 +117.7 +53.9 15, 121 27, 000 18, 135 17, 549 12, 402 272, 382 279, 062 Exports, unmanufactured (including linters) .. bales. _ 752, 324 1, 421, 482 1, 206, 786 947, 506 1, 306, 550 1, 075, 923 -15.1 -7.6 5, 718, 998 7, 542, 803 Consumption by textile mills _ bales. . 483, 266 543, 679 543, 098 534, 283 532, 047 495, 182 -0.1 +9.7 4, 987, 873 5, 846, 477 Stocks, end of month: Total, mills and w'houses.. thous. of bales. _ 4,004 5,943 +16.6 +13.8 6,662 5,852 4,960 5,716 Mills __ thous. of bales.. 866 753 1,319 1, 456 1,049 +19.7 +38.8 1,216 Warehouses thous. of bales.. 3,138 4,624 +15.7 4,499 5,206 4,226 4,803 +8.4 World visible— Total thous. of bales.. ' 3,883 5,821 +16.4 +16.9 7,056 5,194 6,048 4,267 5,175 5,634 2,805 American thous. of bales.. 4,805 +19.1 +12.8 4,115 3,358 4,903 4,346 Machinery activity of spindles: Active spindles thousands. _ 31, 552 32, 425 31, 165 32, 662 +1.4 32, 892 31, 858 +3.2 Total activity ... millions of hours.. 7,102 7,834 7,817 7,124 7,962 1 7, 593 -1.6 +10.0 Activity per spindle hours. 188 207 201 210 188 206 -1.4 +10.1 Per cent of capacity per cent.. 89.4 90.4 83.8 96.0 +7.4 +9.3 86.2 87.8 Cotton finishing: Billings, finished goods (as 91, 686 -8.9 +3.2 produced) thous. of yds 72,257 78, 239 85,859 86, 765 75, 822 840, 109 861, 535 Orders received, gray yardage thous. of yds _ 81, 079 75, 453 90,601 85,907 81, 689 84,652 -12.2 -7.6 628, 610 840, 243 Shipments, finished goods. cases.. 42, 608 44,331 +1.6 39, 676 46, 531 -16.6 39, 052 47, 556 455, 819 479, 537 Stocks, finished goods cases.. 40,711 39, 917 40, 511 42, 162 +1.5 -2.4 41, 516 40, 664 Operating activity per ct. of capacity.. 58 67 67 -9.0 +5.2 61 58 67 Manufactured goods: Cotton cloth exports thous. of sq. yds.. 42, 366 44, 887 43, 084 53, 113 46, 917 43, 698 -4.0 -8.2 434, 599 496, 334 Fabric consumption by tire manufacturers thous. of Ibs.. 14,025 11, 349 13, 205 12, 172 -8.8 -6.9 12, 191 12, 446 130, 245 156, 035 12, 129 Elastic webbing sales thous of yds +9.7 13, 637 11, 658 10, 625 10, 478 -14.5 12, 345 118, 293 148, 594 Fine cotton goods, production pieces. _ 371, 500 452, 552 385, 841 399, 228 -14.7 399, 820 -3.5 3, 846, 989 4, 604, 081 385, 301 Prices: ,225 Raw cotton to producer dolls, per lb__ .215 .174 .181 .240 —15.8 -19.6 .231 .225 Raw cotton, New York dolls, per lb_. .202 .236 .208 .238 -5.5 -14.4 .245 .220 .243 Cotton yarn— .423 22/1 cones, Boston.. dolls, per lb__ .402 -5.3 -8.7 .407 .446 .446 .430 .449 .550 .563 40/ls, New Bedford « dolls, per lb._ .543 -2.8 +1.3 .546 .539 .552 .562 .095 .089 .087 -7.3 -1.1 Print cloth, 64 x 60d dolls, per yd.. .090 .090 .087 .096 .103 0.0 +1.9 Sheeting, crown dolls, per yd.. .108 .108 .108 .103 .106 .106 178 Cotton goods (fairchild)... index number.. 194 -2.7 -6.2 193 187 i 182 194 187 » See table on p. 22, of the November, 1925, issue for earlier data. * Total crop estimated in month indicated. Data for a year ago represents revised estimate of the 1924 crop. « See table on p. 10 of the December, 1925, issue for earlier data. d See table on p. 22, of the December, 1925 issue for earlier data. +23.8 +2.5 +31.9 +17.2 +2.6 +33. 7 +5.2 +14.2 +19.8 +25.6 +19.7 29 TREND OF BUSINESS MOVEMENTS—Continued 1925 Where available December data have been included in this table. The cu~ mulatives shown are in most instances, however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on pages 29 to 151 of the August, 1925, SeptemOctober November ber "Survey" PEB CENT INCREASE (+) OB DECBEASE (— ) 1924 December Novem- November, ber, 1»25, 1925, Decem- from from ber Octo- Sfovember, ber, 1924 1925 October November 5,615 35, 508 6,347 32,939 7,685 33,961 -5.9 -10.6 +7.4 +27.0 44,398 22, 667 5.733 55, 516 25, 043 6.174 61,533 21,948 6. 321 +18.7 +1.6 -1.5 -15.7 +22.2 +6.3 81.9 50.0 74.6 81.4 50.3 75.2 81.5 51.2 78.0 +2.9 -3.6 -5.2 +18.4 +17.5 +42.3 1,468 1, 285 237 +4.3 -11.3 -37.0 +3.8 +19.2 +19.6 +2.5 +4.2 +111. 5 +0.5 1 CUMULATIVE TOTAL FBOM JANUABY 1 THBOUGH NOVEMBEB 30 1924 1925 Per cent increase (+) or decrease (-) 1925 from 1924 TEXTILES— Continued Silk Imports, raw thous. of lbs_. Deliveries (consumption) _ bales. _ Stocks, end of month: At warehouses _ .bales _ At manufacturers' plants bales.. Price, Japanese, New York dolls, per lb_. Silk machinery activity: Broad looms per cent of operation.. Narrow looms.. per cent of operation. _ Spinning spindles.. .per cent of operation _. 8,408 41, 684 7,240 46, 815 6,814 41,848 42, 708 28,169 6.615 39,423 30, 107 6.664 46, 813 30, 602 6.566 91.2 60.8 104.0 93.7 61.3 112.9 96.4 59.1 107.0 1,041 1,731 657 1,086 1,536 440 890 1,533 687 1,046 1,289 368 285, 304 248, 087 1, 878 303, 001 248, 687 198, 737 4,616 318, 428 245, 804 230, 394 2,480 321, 000 242, 504 190, 761 2,183 316,884 3,756 4,135 5,565 4,167 6,842 4,051 4,067 5,476 4,580 7,163 3,803 3,607 5,738 3,580 6,993 3,597 3,771 5,849 4,452 5,579 3,274 3,304 5,781 4,433 6,492 3,402 3,434 5,752 3,907 6,673 -6.1 +16.2 -11.3 +9.2 -0.7 +4.8 -21.8 -19.2 +7.7 -2.4 Production thous. of dozens.. Shipments thous. of dozens.. Returned ..thous. of dozens.. Stocks, end of month thous. of dozens.. New orders thous. of dozens.. Unfilled orders, end of mo thous. of dozens.. 1,119 1,223 20 1,136 1,174 2,460 1,217 1,472 43 941 1,499 2,672 1,094 1,157 65 957 1,018 2,670 1,017 1,103 21 959 1,473 1,811 902 979 21 928 1,556 2,233 1,035 . 988 27 954 1,669 2,833 -10.1 -21.4 +51.2 +1.7 —32.1 -0.1 +21.3 +18.2 +209. 5 +3.1 -34.6 +19.6 Burlap and Fibers Imports: Burlap _ thous. of lbs_. Fibers (unmanufactured) long tons. 43, 664 20,936 42, 621 23, 621 39, 957 26, 930 40, 846 16, 286 30, 409 27, 109 43, 674 28, 556 -6.3 +14.0 2,804 2,377 1,857 2,987 2,380 1,852 2,537 1,975 1,933 2,460 1,644 1,290 1,889 1,536 1,302 2,021 1,467 1,446 42^484 49,824 6.811 ! 52,584 331,976 69, 280 458,8,59 +31.8 +38.2 13, 685 16, 797 4,591 15, 473 17, 650 4,232 2, 287, 267 2,170,844 29, 619 2, 564, 842 2,480,743 32,681 +13.1 +5.1 -7.8 +12.1 +14.3 +10.3 Clothing Men's and boys' garments cut: Suits.. .thous. of garments.. 1,083 Separate trousers thous. of garments.. 1,547 Overcoats . _ thous. of garments.. 565 Work clothing: Cut - . dozen garments.. 256, 519 Shipments dozen garments.. 243, 131 Returned dozen garments __ 1,537 Stocks, end of month dozen garments.. 302, 630 197, 725 -12.8 165, 850 -19.9 9,103 +145.8 +5.1 328,382 Hosiery Production (all classes).. thous. of dozen pairs.. 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.. 36, 827 36, 540 42, 228 41, 712 37, 014 43, 759 +14. +14.2 +18.2 +31.4 -0.7 531,980 267, 736 574,453 283, 228 +8.0 +5.8 -15.1 +34.3 —17 0 +28.6 +4.4 +48.5 24,385 18, 098 25, 621 21, 223 +5.0 +17.0 -49.1 -52.6 2,821 1,674 -40.7 Knit Underwear _. Pyroxylin Coated Textiles Pyroxylin spread .thous. of lbs__ Shipments billed thous. of linear yds.. Unfilled orders, end of mo.thous. of linear yds.. : Fall River Mill Dividends (Reported quarterly') Total ___,. .thous. of dollars. Ratio to capitalization.. per cent per quarter. 3 2338 2.759 3 299 .634 4588 * 1. 337 -11.5 -16.5 IRON AND STEEL Iron Ore and Pig Iron Iron ore: Shipment from mines.thous. of long tons. 7,004 4,258 7,355 ReceiptsLake Erie ports and furnaces thous. of long tons. 5,646 5,147 3,198 Other ports thous. of long tons. 1,864 2,088 1,517 Consumption thous. of long tons 4,609 4,554 4,011 StocksTotal thous. of long tons. 38, 424 41, 198 41, 686 At furnaces. thous. of long tons. 31, 408 33, 542 33, 830 OnLakeEriedocks.thous. of long tons. 7,016 7,656 7,856 Pig-iron production: Total thous. of long tons. 2,726 3,023 i 3, 023 Merchant furnaces thous. of long tons. 617 653 679 Furnaces in blast, end of month: Furnaces _ number. 200 206 220 Capacity long tons per day. 94, 550 97, 950 i 103, 445 Per cent of total per cent. 52.4 53.9 57.6 Ohio gray-iron foundries: Meltings long tons. 19, 125 25, 002 15, 953 Meltings per cent of normal. 84.30 92.50 75.40 Stocks long tons 24, 852 1 17, 601 20,044 Receipts long tons. 17, 991 18, 595 1 14, 371 2 i Revised. Quarter ending Sept. 30,1925. 7 5,597 2,056 9 -39.2 +107. 1 42, 615 54,068 +26.9 48 5 4,461 1,241 3,498 1,975 651 3,689 45 4,542 -37.9 +61.9 -27.3 +133. 0 -1.2 +23.4 . 31,509 10, 650 41, 449 38, 652 15, 712 49, 801 +22.7 +47.5 +20.2 7,081 41, 536 33, 417 8,119 40, 728 32, 679 8,049 36, 360 29, 014 7,346 +1.2 +0.9 +2.6 +2.4 +3.5 -2.4 3,250 722 2,477 619 2,510 613 2,962 585 0.0 +4.0 +20.4 +10.8 28, 126 6,869 33, 143 7,187 +17.8 +4.6 234 107, 560 182 81, 490 45.2 205 89, 100 50.9 228 98, 380 56.6 15, 407 64.50 20, 375 12. 528 16, 209 62.80 25, 387 15. 680 14, 471 63.00 17, 663 13. 083 3 Quarter ending Dec. 31, 1925. +7.3 +16.1 +13.2 -36.2 -2.7 -1.6 213, 693 207, 911 -18.5 +20.1 -29.2 -30.7 161. 527 -22.7 - -8.3 173. 187 1 +7.2 < Quarter ending Dec. 31,1924. +6.8 +5.6 +6.9 30 TREND OF BUSINESS MOVEMENTS—Continued | 1925 Where available December data have been included in this table. The cumulative* shown are in most instancesf however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found ?n pages 29 to 151 of the August, 1925, SeptemOctober November . ber "Survey" December CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEMBER 30 PER CENT INCREASE (+) OR DECREASE (— ) 1924 Novem- November, ber, 1925, 1925, Decemfrom from ber Octo- November, ber, 1924 1925 October November 47, 305 42, 271 52, 485 44.0 45, 279 41, 657 46, 512 42.5 55, 028 48, 281 53,297 51.3 -9.2 -7.0 -15.7 -7.3 +28.8 +24.5 +11.9 +33.6 21.26 19.00 20.37 21.26 19.13 20.66 22.96 20.90 22.32 +6.0 +6.7 +5.7 +4.1 +3.9 +5.7 1924 1925 Per cent increase ( ) or tdecrease 1925 from 1924 IRON AND STEEL— Continued Iron and Pig Iron— Continued Malleable eastings: Production tons Shipments.. ... tons-Orders booked ...tons.Operating activity per ct. of capacity. . Wholesale prices: Foundry No, 2, Northern dolls, per long ton.. Basic (valley furnace).. dolls, per long ton._ Composite pig iron dolls, per long ton_. 54,943 50,621 46, 530 51.7 64,216 55, 795 61, 778 61.3 58,315 51,868 52, 053 56.8 20.56 18.30 20.08 20.89 18.63 20.66 22.14 19.88 21.83 22.26 20.00 22.28 3,893 3,907 3,976 61, 044 20, 576 40, 468 69, 527 31, 993 37, 534 535, 386 527 129 496^ 238 632, 155 601, 247 561, 039 +18.1 +14.1 +13.1 " Crude Steel Steel ingots, production thous. of long tons.. 3,493 Steel castings: Total bookings short tons 48, 827 Railroad specialties short tons. . 17, 008 Miscellaneous bookings short tons 36, 819 U. S. Steel Corporation: Unfilled orders, end mo.thous. of long tons,. 3,717 Sheets, blue, black, and galvanized: Production (actual) short tons 295, 810 Production _ .per ct. of capacity. _ 92.7 ; tocks, end of mo.— Total.. . short tons. . 120, 798 Unsold. short tons.. 36, 587 Shipments . short tons _ 262, 050 Sales short tons 286, 029 Unfilled orders, end of mo short tons.. 497, 698 ; ieel barrels: Production barrels.. 510, 869 Shipments barrels 503, 221 Stocks, end of month __ barrels.. 55, 184 Unfilled orders, end of month. barrels-- 1, 012, 576 Wholesale prices: Steel billets, Bessemer -dolls, per long ton._ 35.00 Iron and steel _ -dolls, per long ton.. 37. 33 Composite steel dolls, per 100 Ibs.. 2.61 Composite finished steel - - dolls, per 100 lbs._ 2.40 Structural steel beams. --dolls, per 100 lbs_. 2.00 3,125 2,121 3,569 +0.4 +25.2 33,242 40, 212 +21.0 66, 697 31. 130 35, 567 74,220 41, 343 32,877 96,164 53, 332 42, 832 +13.9 +55. 5 -7.3 -6.3 -22.6 +14.2 676, 676 335, 025 341, 651 646, 235 252, 310 393,925 -4.5 -24.7 +15.3 2, 378, 232 3, 195, 025 +34.3 2, 282, 375 2, 349, 419 2, 900, 293 2, 959, 870 +27.1 +26.0 4, 311, 819 4, 314, 940 5, 579, 169 5, 577, 625 +29.4 +29.3 4,109 4,582 3,525 4,032 4,817 +11.5 +13.6 348, 714 106.4 336, 021 107.8 247, 222 78.9 224, 931 79.7 259, 794 82.6 -3.6 +1.3 +49.4 +35.3 123, 444 40, 200 332,211 403, 491 595, 583 143, 282 36, 105 294, 660 370, 361 636, 570 118, 547 42, 685 229, 771 221, 773 275, 953 118, 384 41, 573 219, 228 462, 709 531,845 131, 599 45, 743 229, 573 350, 868 663, 460 +16.1 —10.2 -11.3 -8.2 +6.9 +21.0 -13.2 +34.4 -20.0 +19.7 447, 900 391, 401 413, 785 441, 851 407, 474 389, 230 47, 626 49, 797 53, 265 682, 533 1, 230, 808 1, 586, 034 -9.9 -10.4 +1.6 +40.1 +27.5 +28.0 +7.7 +1.4 5,033 498, 929 553, 545 498, 070 555, 981 53,607 52, 748 890, 904 1, 248, 545 i 34.25 37.57 2.61 34.75 38.73 2.63 35.00 39.12 2.65 35.75 38.65 2.68 35.50 39.01 2.68 36.00 40.23 2.75 +1.5 +3.1 +0.8 -2.1 -0.7 19 2.41 2.00 2.43 2.00 2.45 2.00 2.46 2.00 2.49 1.90 2.54 2.00 +0.8 0.0 -2.4 +5.3 106, 462 136, 754 61,015 99,504 141, 817 69, 280 128, 419 171, 134 70, 556 132, 448 158, 560 37, 119 97, 187 124, 464 30,411 101, 889 129, 465 65, 511 +29.1 +32.1 +20.7 +37.5 +1.8 +132. 0 1, 375, 646 1, 684, 194 412, 631 1, 244, 847 1, 619, 625 756, 012 -9.5 -3.8 +83.2 232, 000 80 234, 900 81 255, 200 88 263, 900 91 203, 000 70 220, 400 76 188, 500 65 220,400 76 240, 700 83 185, 600 64 229, 100 79 182, 700 63 -20.5 -20.5 -16.5 —16.5 -15.7 -15.7 +18.8 +18.8 2,134,400 2, 401, 200 +12.5 2, 189, 500 2, 447, 600 +11.8 24, 888 8,458 28, 338 8,076 28, 557 7,492 24,182 8,191 34, 153 12, 787 48, 850 26, 449 +0.8 -7.2 -16.4 -41.4 263, 550 96, 923 295,158 79, 827 +12.0 -17.6 1,816 1,970 1,535 2,130 2,170 1,406 1,886 1,975 1,496 1, 783 1,761 1,185 1,679 1,616 1,216 1,873 1,914 1,220 -11.5 -9.0 +6.4 +12.3 +22.2 +23.0 542 625 512 622 731 627 575 687 740 595 681 327 549 527 469 651 597 365 -7.6 -6.0 +18.0 +4.7 +30.4 +57.8 82.9 89.6 +13.3 +68.8 +3.4 +103. 5 +14.4 +48.6 3, 349, 335 3, 355, 666 4, 248, 690 3, 818, 742 +26.9 +13.8 Iron and Steel Products Exports (selected series) long tons Exports (total) long tons-Imports long tons Structural steel, fabricated: Bookings (prorated) _. short tons.Bookings _ per ct. of capacity. _ Shipments (prorated) short tons.. Shipments per ct. of capacity-Steel plate, fabricated, bookings: Total short tons Oil storage tanks short tons Steel furniture: Business group— Shipments thous. of dollars-Orders received -thous. of dollars. _ Unfilled orders thous . of dollars. . Shelving— Shipments thous. of dollars-Orders received thous. of dollars. . Unfilled orders thous. of dollars. _ ! _ __ Machinery Machine tools, orders "_ _ -index number. _ 69.3 Washing-machine sales: Total number78, 774 Electric number. . 66, 601 Foundry equipment: Sales dollars. _ 296, 438 351, 121 Shipments dollars Unfilled orders _ dollars. - 544, 042 Agricultural pump shipments: Total thous. of dolls.643 62, 944 Pitcher, hand, etc number Power pumps ..nuinber.. 2,909 Steam, power, and centrifugal pumps: New orders thous. of dolls.. 1,323 Shipments thous. of dolls 1,461 Unfilled orders, end mo thous. of dolls.. 3,378 Patents issued: Total, all classes __ number. 4,281 Agricultural implements number 68 Internal-combustion engines number. _ 57 Stokers: Sales number. _ 119 Sales horsepower.- 38. 155 70, 362 59,918 424,054 400, 646 518, 795 480, 328 414, 148 593, 456 662 68, 152 3,666 1,481 1,582 3,252 1,289 1,290 3,256 3,725 63 59 3,777 48 53 114 53. 451 76 33. 461 4,726 48 43 +8.1 +158.2 39.2 34.7 42.5 67,925 57, 553 57, 301 48, 072 56, 576 46,878 259, 871 252, 580 329, 061 284, 617 203, 558 399, 325 397, 738 320, 109 431, 656 495 47, 177 2,380 484 39, 437 2,494 466 42, 763 2,204 1,001 1,152 2,197 873 1,023 2,052 1,293 1,145 2,247 -13.0 +47.7 -18.5 +26.1 +0.1 +58.7 11,900 12,490 15, 820 14, 876 +32.9 +19.1 3,276 56 70 35 2 ' k68 4,350 62 67 +1.4 -23.8 -10.2 +7.5 -11.1 -22.1 38, 244 561 631 41, 726 681 710 +9.1 +21.4 +12.5 104 58. 565 106 37. 167 91 31. 732 -33.3 -37.4 -28.3 -10.0 1,037 482. 547 1,240 506.229 +19.6 44.-, 1 31 TREND OF BUSINESS MOVEMENTS—Continued 1935 Where\ available December data have been included in this table. The cumulatives shown are in most instances , however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on Septempages 29 to 151 of the August, 1925, October ber "Survey" | PEE CENT INCREASE (+) OE DECEEASE (— ) 1924 CUMULATIVE TOTAL FEOM JANUAEY 1 THEOUGH NOVEMBEE 30 i Novem- November, ber, 1925, 1925, Novem- Decemfrom from ber ber Octo- November, ber, 1924 1925 Per cent increase ( } or tdecrease (-) 1925 from 1924 November December October 79,030 68, 989 81,003 68,291 74,975 67, 647 75, 333 -4.9 -4.7 -1.3 4-5.8 725, 731 816, 518 772, 299 869, 097 +6.4 +6.4 129,547 58, 402 122, 008 58,402 333, 672 125, 939 58,402 +6.6 -3.9 +8.3 4-6.3 +9.2 +41.7 1, 300, 332 1, 333, 545 694, 987 1, 352, 309 1, 409, 632 755, 358 +4.0 +5.7 +8.7 .1387 45, 528 .1293 51, 831 .1364 136, 434 237, 528 48, 161 .1426 -6.9 4-0.1 -1.1 4-0.3 -41.1 +5.2 499, 185 493, 723 -1.1 174, 822 146, 958 116. 15 309, 268 270, 379 115.45 595, 729 452, 401 114. 91 4-22.3 +42.4 2, 236, 252 2, 372, 510 110. 13 +6.1 460, 664 446, 168 590, 333 296, 729 890, 924 335, 180 2,089 20, 977 5,790 4,191 .5385 2,844 25, 088 4,085 5, 240 .5572 -22.7 +15.4 -6.6 -28.5 4-2.8 -8.9 -13.2 -2.1 +9.1 +15.4 4-0.2 4-0.3 -7.4 +16.0 +18.8 -74.3 1934 1935 NONFERROUS METALS Copper and Brass Copper: ProductionMines _ short tons Smelter short tons.Refined (North and South America), quarterly short tons.. World production, blister .short tons Domestic shipments, refined. ..short tons.. Stocks (North and South America)— Refined ,shorttons_. Blister short tons Exports short tons. . Wholesale price, electrolytic.. dolls, per lb_. Plumbing fixtures: Sales, tubularQuantity . _ number. _ Value dollars Wholesale price, 6 pieces dollars-Brass faucets: Orders received number of pieces _ Orders shipped number of pieces 67, 720 76, 571 70, 819 83, 239 1 67, 371 i 79, 292 332, 637 125, 206 71, 215 138, 634 76, 468 i 133, 173 82, 779 354, 648 72, 855 69,007 67, 838 247, 398 i 247, 061 * 246, 910 34, 516 30,872 30,547 . 1435 .1438 .1430 71, 358 73, 019 243, 086 197, 703 192, 638 111. 72 315, 143 314,967 111. 77 368, 405 338, 083 442,427 468, 330 ...long tons.. long tons..long tons __ long tons dolls, per lb_. 2,309 17, 642 6,360 5,365 .5641 2,464 15, 770 6,070 6,401 .6046 1,904 18, 199 5,670 4,574 .6214 2,664 18, 024 6,160 .6195 2,419 18, 971 5, 090 4,496 .5004 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__ 86, 556 47, 384 11, 796 89, 877 50, 497 7,475 90, 085 50, 629 6,922 95, 029 53, 794 9,295 72, 139 42, 488 38,452 77, 631 42, 633 26, 912 81, #4 47, 711 21, 208 70, 052 22, 500 .0775 81, 277 24,500 .0828 73, 915 19,500 .0861 67, 156 65, 581 43,400 .0632 79, 587 31, 159 .0380 58, 809 26, 600 .0737 44, 334 10, 819 46.381 96, 932 .0951 52, 927 9,702 47, 412 104, 999 .0951 50, 033 13, 709 48, 273 13, 180 .0974 .0931 47,417 9,355 45, 577 97, 471 .0824 46, 597 12, 222 42, 619 98, 361 .0869 45, 920 10, 078 42, 552 87, 197 .0921 4,621 1,041 3,580 5,550 1,380 4,170 4,955 1,421 3,534 short tons.. short tons.. 511 3,003 517 3,143 492 3,346 1,129 3,475 1,280 3,730 1,240 4,151 -4.8 4-6.5 short tons.. short tons.. 866 7,493 728 7,476 503 6,997 1,224 5,181 1,467 6,245 1,141 6,676 -30.9 -6.4 number number-- 121 48, 826 119 46, 622 113 41, 659 thous. of dolls.. 2,530 1,495 46,817 1,629 53, 203 1,243 385, 128 110. 83 -0.8 _ -4.0 5 3,765, 763 83,765,819 5 3,943, 221 » 4,406, 389 0.0 +11.7 Tin Stocks, end of month: United States World visible supply Deliveries (consumption) Imports Wholesale price, pig tin 60, 040 59, 899 70, 295 69, 178 +17.1 +15.5 488,135 | 537,134 +10.0 -9.1 -7.1 -20.4 -37.4 4-4.0 +26.6 672, 771 746, 047 +10. 9 480,508 89, 955 459, 579 521,332 116, 145 502, 149 +8.5 +29.1 +9.3 -61.6 -10.3 16, 728 7,799 -53. 4 -65.7 +12.0 17,092 10, 373 -39.3 Zinc Lead Production... short tons.. Ore shipments, Joplin district short tons.. Receipts of lead in U. S. ore. short tons.. Stocks, U. S. and Mexico, end rno.. .short tons.. Price, pig desilverized (New York) .dolls, per lb,_ .0857 -5.5 +7.4 4-1.8 +13.3 4-2.4 +12.1 4-41.3 +12.2 Babbitt Metal Consumption: Total apparent Direct by producers Sale to consumers.. thous. of lbs._ thous. of lbs._ thous, of lbs._ -10 7 4-3.0 —15 3 OTHER MINERAL AND METAL PRODUCTS Arsenic Crude: Production _ , Stocks, producers', end mo Refined: Production Stocks, producers', end mo Fire Extinguishers Shipments: Motor vehicles _ . Hand types _ _ —5 0 —10.6 Farm Implements Sales in Northwest 1,438 784 699 48, 373 1,534 42, 066 974 46,288 1,090 « 18, 402 a 27, 187 +47.7 437, 052 14, 145 470, 151 14, 193 FUELS Coal and Coke Bituminous: Production thous. of short tons Exports thous. oflongtons.. Consumption— By vessels thous. of long tons. . By electric power plants thous. of short tons.. Priees— Mine average, spot. dolls, per short tons.. Wholsesale, Kanawha, f. o. b. Cincinnati dolls, per short tons.. Retail, Chicago.. -dolls, per short tons— i Revised. 1 -4.6 +20.7 4-18.8 4-51. 6 361 352 340 351 289 352 +17.6 3,634 3,986 +7.6 +0.3 +9.7 3, 476 i 3, 704 3,477 3,221 3,293 3,635 -6.1 +5.6 33, 950 36,225 +6.7 2.19 2.14 2.28 2.19 2.10 2.06 2.06 4-6.5 +10.7 3.49 8.89 3.39 8.99 3.39 9.69 3.39 3.39 8.21 3.39 8.13 3.39 8.14 0.0 4-7.8 0.0 +19.2 50, 780 1,477 -3.4 • Ten months' cumulatives, Jan. 1, 1925, to Oct. 31, 1925, inclusive. 32 TREND OF BUSINESS MOVEMENTS—Continued Where available December data have been included in this table. The cumulative* shown are in most instances, however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on pages 29 to 151 of the August, 1925, *'Survey" 1925 PER CENT INCREASE (+) OR DECREASE (-) 1924 October Novem- 151 31 7,674 6,776 11.29 11.48 11.47 11.73 14.17 14.17 14.42 September October Novem- 152 163 68 46 11.27 11.28 15.04 17.04 746 3,185 84 .3,402 3.70 6.53 ber December ber December Novem- November, ber, 1925, 1925, from from Octo- November, ber, 1924 1925 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEM- Per cent increase (+) or decrease (-) 1925 from 1924 BER 30 1924 1925 82, 838 3,281 62, 251 -24.9 -13.6 9,344 FUELS-ContiDued Coal and Coke— Continued 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: ProductionBeehive thous. of short tons.. By-product thous. of short tons.. Exports . ._ -thous. of long tons.. Price, furnace Connellsville dolls, per short tons . | 1,006 362 1,213 631 3,557 2,900 630 2,927 -89.0 +0.1 -1.6 +20.6 +4.6 +22.5 +92.5 +21.5 +52.6 900 3,267 8,768 2,834 30, 728 600 36, 223 722 +6.6 +17.9 +20.3 650, 648 695, 029 +6.8 56 57 3.13 3.23 4.04 59, 937 56, 297 56, 617 -4.2 +9.5 362, 374 359, 658 6,649 351, 950 5,841 -0.2 +12.0 -5.2 -26.4 71,935 57,645 -19.9 55, 779 1,060 55, 029 1,007 57, 880 994 -5.6 -16.3 +10.0 +18.0 588, 220 13, 554 677, 656 15, 386 +15.2 ,+13.5 21,413 9,989 20, 723 11, 204 1.212 19,769 11,443 +1.0 -12.2 -0.7 +31.0 113, 057 90, 244 -20.2 1.195 762, 046 795, 613 760, 647 94, 951 90, 907 98, 701 662, 589 751, 499 698, 359 1, 152, 374 1, 133, 169 1, 179, 503 .140 .150 .~170~ .148 257, 075 237, 801 268, 404 —2.4 +21.4 -8.9 +4.0 0.0 +21.0 +30.9 +8.6 +40.3 +14.9 8, 164, 067 1, 080, 305 7, 113, 712 9, 914, 578 1, 164, 881 8, 573, 727 +21.4 +7.8 +20.5 -8.9 -1.2 +6.4 +12.9 —6. 1 -6.8 +3.9 -2.4 2, 277, 277 2, 286, 553 1, 532, 525 +0.4 +9.8 +8.4 12, 260, 876 13,981,027 +14.0 87 6.88 283 7,376 +122. 1 321 -32.6 4.45 56 +5.4 +113. 0 Petroleum Crude petroleum: 61, 658 64, 708 i 64, 352 Production thous. of bbls Stocks, end of month — Tank farms and pipe 343, 740 1341,736 341, 116 lines thous. of bbls 4,891 Imports -_ thous. of bbls 4,367 4,027 Consumption64, 130 60, 521 Run to stills thous . of bbls 62,278 1,420 1,188 1,501 Oil wells completed number Mexican field — 18,029 18, 205 Storage, Tampico thous. of bbls 6,905 Shipments _ . .thous. of bbls _ 6,626 1.600 Price, Kansas-Oklahoma dolls, per bbL. 1.600 1.588 Gasoline: Production. thous. of gals.. 906, 109 944, 433 922, 058 102, 404 124, 301 Exports . thous. of gals _ 88,011 758,111 Consumption _.thous. of gals.. 848,867 831, 774 Stocks, end of month thous. of gals.. 1, 514, 150 1, 529, 248 1,589,880 .170 .170 .170 Price, motor, New York dolls, per gal.. Retail distribution, 21 States.thous. of gals.. 322,828 312, 336 Kerosene oil: Production thous. of gals.. 197, 834 215, 158 212, 665 154, 241 180, 298 Consumption thous. of gals 144,956 Stocks at refineries at end mo .thous. of gals.. 352, 656 335, 001 314, 554 .080 .074 .077 Price, 150° water white dolls, per gal.. Retail distribution, 13 States.thous. of gals__ 37, 029 35, 199 Gas and fuel oil: Production ._ thous. of gals.. 1, 280, 955 1, 321, 652 1, 229, 771 Consumption— By vessels thous. of gals._ 155, 793 128, 900 159, 097 33, 072 33, 977 By electric power plants -thous. of gals 35, 008 Stocks at refineries, end of mo. thous. of gals. .2, 521, 397 2,445,755 2,299,010 1.215 Price, Okla.,24-26at refineries. dolls.per bbl . 1.056 1, 050 Lubricating oil: 110,467 Production thous. of gals__ 107, 717 109, 534 73, 556 75, 105 82, 676 Consumption . thous. of gals 293, 912 286, 595 283, 925 Stocks at refineries, end mo thous of gals Price, Pa., 600° fil., "D" .157 .159 .153 at refineries dolls, pergal.. 1.550 .088 1.250 232, 666 134, 909 308, 125 .083 34, 109 233, 521 136, 605 337, 448 .082 30, 971 243, 832 156,286 338, 826 .084 29, 972 1, 160, 683 1, 134, 147 1,199,093 1.250 .174 -7.0 1,019 1,170 +23.4 +7.5 -5.5 -30.9 +40.1 -6.0 +15.1 +19.2 97, 223 61, 801 247, 998 94, 948 70, 579 242, 246 104. 391 60, 264 257, 336 +0.9 +16.3 -2.1 +4.2 +2.6 +21.3 .186 .194 .226 204, 343 198, 381 182, 099 174, 899 173,880 1 148, 021 169, 596 59, 024 47,872 57, 717 1,611,586 1, 641, 090 1, 670, 509 .933 -1.3 1,396,180 1,650,005 644, 158 1,646,377 395,278 -0.2 -38.6 1, 050, 537 1, 187, 159 796, 796 +13.0 +14.3 3, 080, 665 696,848 -19.1 AUTOMOBILES Production: Passenger cars— Total 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 Accessories and parts thous, of dolls.. From CanadaTotal number of cars. . Passenger cars number of cars Trucks number of cars Internal-revenue taxes collected on: Passenger automobiles and motor cycles thous. of dolls. . Automobile trucks and wagons thous. of dolls Sales of automobile accessories and parts thous. of dolls Foreign assemblies number of cars . . i Revised 4,873 272, 425 262, 053 10, 372 406, 572 392, 651 13, 921 336, 358 327, 617 8,741 260,881 60, 370 57, 890 45, 914 44,220 39, 893 37, 704 2,189 32,475 31,205 1,694 22,562 28,472 18, 487 4,075 21, 158 7,314 17, 097 14, 373 7,561 7,521 6,346 5,547 4,030 7,976 6,229 9,323 7,659 2,480 22, 814 18, 780 4,034 254, 524 6,357 1,270 2,724 5,534 7,200 -17.3 +64.6 —16.6 +65.1 —37.2 +463. 6 2,970, 100 110, 745 3, 532, 390 3, 400, 589 131, 801 +14.7 +14.5 +19.0 27, 905 26, 824 1,081 27, 542 25, 852 1,690 -13.1 +43.0 -14.7 +40.6 +29.2 +102. 5 349, 802 334, Oil 15, 791 462, 394 442, 210 20, 184 +32.2 +32.4 +27.8 13, 517 11, 619 1,898 13, 060 10, 962 +26.2 +110. 6 +14.4 +82.1 +79.5 +285.4 -15.6 +11.6 165, 061 140, 102 269, 417 219, 682 49, 735 76, 303 +63.2 +56.8 +99.3 +11.8 +60.6 +76.0 +14.5 51,883 67, 172 52, 363 14,809 +29.5 +30.8 +25.0 8,586 +147. 9 +181. 4 +10.9 5,962 5,686 2,098 4,799 5,805 4,352 4,772 3,847 +16.9 +23.0 -4.8 24,959 68,231 1,517 1, 747 1,664 4,514 3,481 1,033 11,800 5,089 12, 614 7,469 4,482 92,529 102, 600 1,463 580 438 1,301 522 361 -24.5 -16.1 9,973 7,174 -28.1 53, 381 11, 530 33,002 45, 191 14, 399 39, 339 12, 584 27, 936 36,294 9,676 +36.9 +15.8 +61.8 +11.9 518, 563 132, 670 423, 335 160, 714 -18.4 +21 1 1 12, 437 1,453 12,864 924 40, 036 11, 847 33 TREND OF BUSINESS MOVEMENT—Continued. 1925 Where available December data have been included in this table. The cumulatives shown are in most instances, however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on Decempages 29 to 151 of the August, 1925, SeptemOctober November ber ber "Survey" AUTOMOBILES— Continued New passenger-car registrations: c Second highest group number of cars. - RUBBER Crude: World shipments, plantation long tons- Stocks, end of monthConsumption by tire mfrs thous. of Ibs.. Wholesale price, Para, N. Y_.dolls. per lb_. 193, 169 7, 893 50, 468 46, 417 87, 073 1,318 247, 002 8,663 47, 814 43, 918 145, 508 1,099 44, 496 26, 367 44, 872 34, 651 63, 220 46, 745 .590 63, 570 42, 211 .773 PEE CENT INCREASE (+) OR DECREASE (— ) 1924 October November December Novem- November, ber, 1925, 1925, from from Octo- November, ber, 1924 1925 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEMBER 30 1994 1935 +12.1 302, 988 356, 903 +17.8 -7.9 -2.4 +10.3 +198. 3 414, 890 512, 619 +23.6 j i ! 37, 755 34, 290 38, 997 36, 599 33, 691 39, 823 26,407 38, 876 .853 50, 600 46, 045 .262 54, 300 39, 812 .286 57, 670 38, 956 .315 .764 +9.0 X Tires and Tubes Pneumatic tires: Production XX 3,755 5,761 3,293 3,379 5,003 4,088 3,172 5,216 2,667 3,877 5,338 3,046 3,190 5,207 3,273 3,438 5,571 3,008 -6.1 +4.3 -34.8 -0.6 +0.2 -18.5 35,288 42, 063 +19.2 33, 560 40, 644 +21.1 5,440 7,463 4,851 4,959 6,545 5,764 4,699 7,119 3,982 5,896 7,352 4,177 4,602 7,668 4,679 4,704 8,289 4,066 -5.2 +8.8 -30.9 +2.1 -7.2 -14.9 48, 324 56, 711 +17.4 46, 010 55, 891 +21.5 56 136 39 45 127 55 42 119 47 48 145 45 42 149 41 46 154 39 -6.7 -6.3 -14.5 0.0 -20.1 +14.6 512 569 +11.1 486 561 +15.4 27, 055 1,977 12, 872 6,095 4,002 20, 338 1,773 8,957 5,248 3,268 27, 716 1,262 16, 020 6,181 2,885 26, 719 3,469 13, 897 3,879 4,556 33, 355 2,873 22, 145 3,448 3,358 39, 020 3,543 22, 898 5,059 4,207 +36.3 -28.8 +78.9 +17.8 -11.7 -16.9 -56.1 -27.7 +79.3 -14.1 317, 655 37, 570 162, 719 47, 172 53, 910 337, 177 27, 317 155, 647 74, 582 58, 266 +6.1 -27.3 -4.3 +58.1 +8.1 251, 459 192, 753 38, 456 20, 250 259, 369 203, 246 38, 343 17, 780 273, 686 220, 293 36, 441 16, 952 256, 232 212, 223 28, 112 15, 897 265, 605 223, 361 27, 196 15, 048 283, 266 241, 639 27, 840 13, 787 +5.5 +8.4 -5.0 -4.7 +3.0 -1.4 +34.0 +12.7 .177 .198 .174 .200 .163 .198 .163 .194 .174 .203 .174 .209 -6.3 -1.0 -6.3 -2.5 doz 1,107 20, 701 62, 645 96, 548 33, 418 * 1,318 23, 957 68, 346 124, 900 34, 205 1,078 19, 983 60, 289 112, 492 28, 741 1,351 23, 389 68,377 101, 167 40, 539 1,198 20, 783 57, 633 96, 432 38, 170 1,362 23, 476 67, 895 97, 990 40, 706 -18.2 16 6 -11.8 -9.9 -16.0 -10.0 -3.8 +4.6 +16.7 -24.7 13, 282 236, 498 701, 515 1, 151, 460 363, 609 13, 821 249, 015 690, 930 1, 123, 869 369, 431 +4.1 +5.3 -1.5 -2.4 +1.6 sides.. 215, 929 182, 652 165, 083 168, 642 157, 592 125, 435 —9.6 +4.8 88, 202 145, 869 81, 303 147, 329 78, 176 149, 608 88, 504 127, 332 89, 329 129, 682 86, 888 • — 3. 8 132, 351 +1.5 -12.5 +15. 4 20, 345 77, 252 17, 260 82, 256 -15.2 +6.5 5 3, 617 5 6, 167 5 3, 716 8 6, 364 +2.7 +3.2 288, 627 5,743 299, 101 6,047 +3.6 +5.3 thousands. . Shipments, domestic Inner tubes: Production thousands. _ Shipments, domestic Solid tires: Production... thousands- . thousands.. thousands. . Shipments, domestic Per cent increase (+) or decrease (-) 1925 from 1924 thousands . . HIDES AND LEATHER Hides Imports: Total hides and skins Calfskins Cattle hides _._. thous. of lbs_. thous. of lbs_. tbous. of lbs._ Sheepskins Stocks, end of month: thous. of lbs__ Cattle hides v^aii dnii Kip bKina. thous. of lbs_tuoua. 01 it)b_- Priees: Green salted, packers' heavy native n iif i • ~-i- XT 1 !a 11 ' iru " Leather Production: Sole leather thous. of bks., bends, sides.. Finished sole and belting thous. of lbs__ Skivers Unfilled orders: Oak and union harness Stocks in process of tanning: .156 .192 Stocks, end of month: oo e ana ueii ng _ _ i ous. OIIDS__ 131, 377 296, 174 127, 926 291, 891 122,429 290, 815 134, 272 324, 922 126, 204 316, 411 124, 445 311, 074 -4.3 -0.4 -3.0 -8.1 Exports: Sole. _ Upper _ Prices: Sole, oak, scoured backs, thous. of lbs._ thous. of sq. ft__ 1,637 7,991 1,859 7,986 1,137 7,855 1,923 7,504 1,864 6,959 2,182 6,535 -38.8 -1.6 -39.0 +12.9 Chrome calf, "B " grades. .dolls, per sq. ft.. .460 .460 .460 .460 .470 .460 .445 .460 .465 .460 .480 .480 +2.2 0.0 +1.1 0.0 361 622 364 626 338 576 303 515 324 548 30, 826 552 25, 322 494 24, 602 569 -20.8 +8.2 -2.9 +12.8 Leather Products Belting sales: Quantity _ thous. oflbs.. Value thous. of dolls.. Boots and shoes: Production thous. of pairs.. Exports thous. of pairs Wholesale pricesMen's black calf, blucher, Mass .dolls, per pair Men's dress welt, tan calf, St. Louis dolls, per pair.. Women's black kid, Goodyear welt, St. Louis dolls, per pair.. * Revised. 29, 769 401 1 31, 055 515 4.60 4.60 24, 583 557 6.40 6.40 6.40 6.40 6.25 6.25 6.25 0.0 +2.4 5.15 5.15 5.15 5.13 4.88 5.00 5.00 0.0 +3.0 4.00 4.00 4.00 4.00 3.85 3.85 3.90 0.0 « See table on p. 14 of the Oct ober, 1926, issue for e arlier data j +3.9 s Ten months' cumiilatives, .Fan. 1 to Oct. 31, 1925, inclusive. 34 TREND OF BUSINESS MOVEMENTS—Continued Where available December data have been included in this table. The cumulatives shown are in most instances, however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on pages 29 to 151 of the August, 1925, "Survey" Septem- October PER CENT INCREASE (+) OR DECREASE (-) nu 1925 November December October November 525, 459 475, 959 Novem- November, ber, 1925, 1925, Decemfrom from ber Octo- November, ber, 1924 1925 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEM- BER 30 i 1924 1935 5, 345, 701 5, 798, 658 Per cent increase (+) or decrease (-) 1925 from 1924 HIDES AND LEATHER— Continued Leather Products— Continued Gloves: Glove leatherProduction number of skins _ 482, 137 560, 730 576, 743 Stocks (tanned)— In process number of skins . 1, 127, 024 1, 287, 706 1, 353, 367 Finished _ _ number of skins. _ 343, 559 328, 282 324, 050 Gloves cutTotal _ ... dozen pairs.. 207, 796 223, 118 201, 767 Dress and streetImported leather dozen pairs. . 44, 315 41, 606 48, 637 Domestic leather dozen pairs.. 24, 437 29, 870 30, 121 Work gloves dozen pairs.. 139, 044 144, 360 130, 291 513, 391 +2.9 +21.2 1, 365, 963 1, 370, 615 1, 314, 152 404, 552 350, 246 288, 157 +5.1 -1.3 -1.3 -7.5 -9.6 +23.7 2,107,206 2, 241, 770 +6.4 +8.5 197, 927 163, 045 156, 954 36, 698 29, 523 131, 706 34, 920 23, 684 104,441 23, 926 21, 598 111,430 -14.5 +19.1 -0.8 +26.1 -9.7 +24.8 360,398 336,833 1, 409, 975 462, 050 342, 363 1, 437, 357 +28.2 +1.6 +1.9 1, 553, 284 1, 568, 322 -4.4 +1.2 299, 400 +34.9 2, 253, 466 2, 256, 780 +2.8 +1.9 PAPER AND PRINTING Wood Pulp Mechanical: Production Consumption and shipments Stocks, end of month Imports Chemical: Production Consumption and shipments Stocks, end of month Imports Price _ dolls, short tons._ short tons short tons.. short tons 139, 066 151, 238 199, 895 32, 812 138, 789 144, 371 191, 949 35, 105 145, 523 155, 348 194, 882 30, 565 121, 700 131, 822 183, 846 24, 835 123, 465 127, 911 179, 466 29, 228 -0.2 +14.0 -4.5 +9.5 -4.0 +4.4 +7.0 +41.4 1, 625, 256 1, 549, 638 short tons i 196, 690 i 219, 752 short tons._ i 1193, 784 i 222, 370 short tons 45, 252 i 41, 140 short tons 111, 163 117, 388 2.68 per 100 lbs_. 2.68 204, 800 204 340 37, 960 110, 328 2.68 227, 424 229, 032 48, 562 135, 238 2.51 198, 506 195, 190 51, 778 109, 047 2.57 198, 640 195, 760 54, 372 132, 344 2.63 +3.2 -6.8 -8.1 +4.7 -7.7 -26.7 +1.2 -6.0 0.0 +4.3 2, 191, 034 2, 213, 756 .short tons short tons short tons short tons__ short tons 100, 594 134, 505 212, 666 24, 777 221, 924 1, 144, 440 1, 221, 882 +6.8 Newsprint Paper Production Consumption Shipments _ _ _ _ _ . . Imports Exports . Stocks, end of month: At mills At publishers In transit to publishers Price roll f o b mill short tons short tons short tons dolls per cwt 121, 019 145, 082 127, 409 110, 688 1,869 135, 225 167, 515 142, 204 145, 088 1,784 130, 102 163, 935 133, 199 124, 681 2,947 129, 852 147, 448 130, 281 114, 121 1,677 118, 275 145, 363 121, 658 112, 442 1,454 121, 053 143, 712 122, 148 125, 241 1,350 -3.8 -2.1 -6.3 -14.1 +65.2 27, 326 159, 926 31, 054 3.70 20, 446 144, 333 33, 261 3.70 17, 418 131, 236 34, 635 3.70 28,229 187, 158 33, 575 3.78 25, 062 169, 389 36, 394 . 3.78 23, 838 167, 024 32, 935 3.78 -14.8 -30.5 -9.1 -22.5 +4.1 -4.8 0.0 -2.1 695 117 12, 973 96 977 157 12, 654 108 668 126 12, 172 799 93 12, 584 105 905 181 10, 799 93 530 161 12, 032 106 -31.6 -26.2 -19.7 -30.4 -3.8 +12.7 +10.0 +12.8 +9.5 +10.9 +102. 7 1, 349, 528 1, 358, 804 1, 347, 911 1, 231, 542 15, 794 1, 388, 825 1, 614, 679 1, 391, 714 1, 326, 160 20, 796 +2.9 +18.8 +3.2 +7.7 +31.7 6,798 1,562 123,086 7,512 1,479 130, 712 +10.5 -5.3 +6.2 Printing Book publication: American manufacture no. of titles Imported . _ _ __ .no. of titles Sales books, shipments thous. of booksPrinting activity weighted index number. . Boxboard Operation _ inch hours. .8, 152, 403 18,438,784 7, 770, 106 97.4 Operation per ct of capacity 100.9 102.2 Production _ tons i 198, 749 204, 492 190, 136 Orders received tons 191, 840 207, 178 192,451 Unfilled orders, end of month tons 109, 191 101, 981 102, 786 Consumption of waste paper tons _ _ 187, 620 189, 684 179, 026 Shipments tons i 202, 599 213, 019 191, 646 44, 541 Stocks end of month tons 46, 054 * 51, 699 Stocks of waste paper, end of month: 155, 476 i 168, 305 165, 289 On hand tons 18, 587 15, 010 In transit tons _ 13, 866 31, 918 30, 324 Unshipped purchases tons 35, 721 —7.9 -3.5 -7.0 -7.1 +0.8 -5.6 -10.0 -3.3 +3.0 88, 701, 925 86, 962, 214 -7.0 +11.5 1, 974, 116 2, 082, 550 +10.5 1, 966, 659 2, 089, 928 +8.5 +10.0 1, 884, 855 1, 971, 132 +13.4 1, 972, 532 2, 087, 770 -3.6 +4.6 +5.8 +0.7 -3.3 +8.5 175, 945 14, 921 27, 804 164, 065 15, 523 29, 423 179, 442 14, 329 31, 620 105, 484 63, 411 111, 410 48, 103 104, 725 49, 546 105, 772 51, 528 -5.0 +0.7 -2.0 +28.0 84, 672 79, 461 90,130 104, 867 84, 314 109, 586 88, 109 113, 614 37, 045 50, 288 33, 125 50, 174 29, 944 51, 523 30, 568 52, 143 96, 037 61, 126 109, 906 57, 602 95, 723 57, 977 101, 263 57, 782 643, 476 316, 232 670, 633 333, 622 601, 859 339. 620 616, 648 347, 115 -1.8 -19.2 +5.3 -2.0 +5.5 +6.3 Other Paper Book paper: 111, 036 Production short tons 103, 772 64, 705 Stocks end of month short tons 64, 064 Wrapping paper: 99, 916 i 89, 076 Production short tons 85, 675 Stocks end of month short tons 90, 205 Fine paper: 41, 255 Production short tons 35, 750 49, 923 Stocks end of month short tons 49, 558 All other grades: 102, 195 107, 891 Production short tons 63, 989 i 61, 551 Stocks end of month short tons Total paper (inc. newsprint and boxboard) : Production short tons.. i 650, 661 i 699, 795 Stocks, end of month _. .short tons.. i 350, 117 i 332, 884 i Revised. 8, 422, 014 7, 546, 373 7, 488, 756 104.7 89.8 96.6 196, 633 170, 550 170, 674 174, 184 180, 846 180, 284 94, 711 107, 584 87, 563 189, 187 162, 771 163, 878 198, 352 169, 018 168, 677 46, 214 48, 211 44, 682 1, 125, 061 1,176,864 +4.6 -15.3 +0.4 -7.3 -27. 5. 927, 556 1, 079, 464 +16.4 -10.2 +23.7 +0.7 -2.4 339, 154 410, 683 +21.1 -11.0 -0.7 +0.3 +5.4 1, Oil, 763 1, 103, 990 +9.1 -8.0 -5.0 +6.9 -6.9 6, 720, 655 7, 158, 442 +6.5 35 TREND OF BUSINESS MOVEMENTS—Continued Where available December data have been included in this table. The cumulatives shown are in most instances, however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on pages 29 to 151 of the August, 1925, September "Survey" October PER CENT INCREASE (+) OR DECREASE (— ) 1924 1925 November December October November Novem- November, ber, 1925, 1925, Decemfrom from ber Octo- November, ber, 1924 1925 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEMBER 30 Per cent increase or decrease 1924 1925 1925 from 1924 PAPER AND PRINTING— Continued Paperboard Shipping Boxes Production: Total Corrugated Solid fiber Operating activity: Total Corrugated Solid fiber _ thous. of sq. ft . thous. of sq. ft.. thous. of sq. ft.. per cent of normal . per cent of normal . . per cent of normal. . 370, 315 290, 698 79, 617 422, 548 341, 384 81, 164 331, 390 256, 410 74, 980 332, 824 259, 300 73, 434 321, 617 248, 956 72, 661 81 82 79 88 90 81 77 77 78 78 77 80 75 74 76 53,026,479 83,450,264 82,265,339 5 2, 680, 352 5 760, 540 5 769, 894 +14.0 +18.3 +1.2 971,071 132, 185 +11.6 +19.8 « 12, 263 57, 122 1, 534, 804 +12.7 +5.5 +8.0 Other Paper Products Rope paper sacks, shipments. ..index number.. Abrasive paper and cloth: Domestic sales .reams. . Foreign sales reams.. 138 101 153 119 112 -26.8 -15.1 102, 058 14,034 76,877 14, 836 86, 587 8,591 73, 581 11, 940 77, 429 11,606 -24.7 +5.7 +4.5 +24.3 48.1 12, 197 47.3 12, 286 32,1 13, 605 36.1 i 13, 623 36.8 13,656 -1.7 +0.7 +31.0 -9.8 45.9 50.1 47.8 50.6 51.0 51.9 47.3 46.1 47.3 45.8 45.7 48.3 43.5 51.0 45.5 42.2 43.6 39.5 -6.5 -9.6 -8.9 +8.7 -9.6 +4.0 number.. 1,510 number. . 8,497 number. . 149, 156 1,429 7,079 165,375 5,136 1,299 6,226 150, 824 1,246 5,058 130, 824 1,004 3,307 139, 453 -27.4 +1.5 194 195 195 196 193 195 196 199 195 193 201 202 -1.0 -0.5 -1.0 +1.0 205 206 206 208 208 206 209 0.0 194 194 194 195 195 195 197 0.0 200 210 199 200 201 210 199 201 204 212 199 201 204 216 206 202 203 215 205 201 203 214 205 201 +1.5 +1.0 0.0 0.0 +0.5 -1.4 -2.9 0.0 12, 228 7,231 52, 238 3,937 11,421 7,758 50,309 3,157 9,664 4,478 32, 143 4,127 10,038 4,101 34, 779 2,825 8,424 8,705 33, 153 3,254 -6.6 +7.3 -3.7 -19.8 +13.8 +89.2 +44.7 +11.8 104, 615 45, 327 389, 153 54, 988 137, 674 62, 274 492, 231 55, 294 +31.6 +37.4 +26.5 +0.6 5,418 82, 577 4,070 77, 871 4,195 55, 087 3,181 55, 258 3,785 53, 625 -24.9 +27.9 -5.7 +40.9 51, 926 652, 783 65,413 824, 602 +26.0 +26.3 55, 912 63, 316 262, 726 28, 192 61, 336 53, 309 240, 280 22,048 55, 969 29, 033 166, 199 27, 675 55, 255 34, 373 191,319 18, 311 38, 696 30, 776 166,839 25, 797 +9.7 -15.8 -8.5 -21.8 +11.0 +55.1 +25.6 +20.4 557, 646 315, 494 1, 883, 255 341, 643 767, 903 433, 409 2, 422, 027 381, 559 +37.7 +37.4 +28.6 +11.7 43,376 66, 007 519, 528 30, 675 57, 035 464, 683 29, 991 101, 224 410, 091 22, 947 57, 455 379, 660 30, 259 35, 620 327, 986 -29.3 +33.7 -13.6 -0.7 -10.6 +22.4 362, 480 688,291 4, 157, 806 512, 757 793, 818 5, 311. 372 +41.5 +15.3 +27.7 23, 991 647 30, 320 27,944 510 39,082 392 44,477 432 -22.4 333, 052 ' 6, 619 330, 226 « 6, 077 -0.8 -8.2 133 86,448 10, 997 1 870, 600 110, 371 BUTTONS Fresh-water pearl buttons: Production per ct. of capacity. . 46.2 Stocks, end of month thous. of gross.. 12, 228 GLASS Illuminating glassware: Net orders. Actual production Shipments billed per ct. of capacity. . per ct. of capacity. . .per ct. of capacity.. BUILDING CONSTRUCTION AND HOUSING Bental advertisements: Portland, Oreg Minneapolis, Minn Heal estate conveyances (41 cities) 3,042 * 10, 880 54, 152 •1,421,251 5 Building Costs (Index Numbers) Building materials: Frame house, 6-room, 1st of following mo... Brick house, 6-room, 1st of following mo Building costs (Engineering News Record), 1st of following month Concrete factory costs (Aberthaw), 1st of following month •Construction index: <* Frame index number.. Brick, wood frame.index number.. Biick, steel frame index number. . Reinforced concrete index number. . 0.0. -0.5 Construction and Losses •Contracts awarded (36 States) : Commercial buildings thous. of sq. ft.. 13, 262 Industrial buildings _ .thous. of sq. ft 8,643 Residential buildings thous. of sq. ft.. 46, 790 Educational buildings thous. of sq. ft_. 4,744 Other public and semipublic buildings thous. of sq. ft 8,270 Grand total thous. of sq ft 86, 167 Contracts awarded, value (36 States) : Commercial buildings thous. of dolls 80, 171 Industrial buildings thous. of dolls 43, 298 Residential buildings thous. of dolls.. 250,417 Educational buildings thous. of dolls_. 35, 217 Other public and semipublic buildings thous. of dolls 59, 445 Public works and utilities. -thous. of dolls. _ 79, 668 Grand total thous. of dolls 548, 217 Fire losses: United States and Canada. -thous. of dolls .. 25, 396 Great Britain thous. of £ sterling. . 395 +26.4 Lumber Southern pine: Production (computed) M ft. b. m 481, 936 484, 840 423,026 463,009 424, 187 422,347 -12.7 -0.3 5, 018, 061 5, 231, 201 Shipments (computed) M ft. b. m__ 491,568 496, 022 469, 155 -5.4 493, 650 482, 758 423, 993 -2.8 5, 089, 802 5,209,946 Orders (computed) M ft. b. m. . 501, 395 511, 706 494, 812 506, 478 524, 194 428, 688 -3.3 -5.6 5,136,466 5, 274, 862 Stocks, end of mo. (computed) . M ft. b. m_.1, 181, 906 1, 199, 328 1, 152, 743 1, 080, 026 1, 026, 246 1, 041, 774 -3.9 +12.3 Exports (incl timber) M ft. b m 48, 932 43, 993 56,962 60, 232 83,119 +23.1 +5.7 73, 121 762, 142 739, 299 Price, flooring dolls, per M ft. b. m_. 47.41 46.42 48.27 44.42 42.48 49.83 +1.8 +13.6 40.31 Stocks, end of mo. (computed) .M ft. b. m__ 1, 181, 906 1, 199, 328 1, 152, 743 1, 080, 026 1, 026, 246 1, 041, 774 —3 9 +12.3 d i Revised. « Ten months' cumulatives Jan. 1, to Oct. 31,1925 inclusive. See table on p. 26 of the October, 1925, issue for earlier data. +4.2 +2.4 +2.7 -3.D 36 TREND OF BUSINESS MOVEMENTS—Continued. 1925 Where available December data have been included in this table. The cumulatives shown are in most instances, however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on October pages 29 to 151 of the August, 1925, September "Survey" BUILDING CONSTRUCTION HOUSING— Continued November Novem- November, ber, 1925, 1925, from from Octo- November, ber, 1924 1925 December October November December 15.50 542, 996 503, 156 637, 898 45, 489 39, 092 16.50 515, 690 465, 106 566, 274 46, 139 23, 758 16.50 446, 752 455, 258 527, 776 39, 931 25, 357 16.50 o 7 -12.3 -f 13. 2 -37.1 -24.5 0.0 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEMBER 30 Per cent increase (+) or decrease (-) 1925 from 1924 1934 1925 +13.3 +13. 3 +9.8 -18.2 +8.1 0.0 5, 419, 221 5, 517, 705 5, 590, 671 583, 609 459, 763 6, 001, 162 6, 128, 295 6, 165, 001 530, 063 291, 210 +10.7 +11.1 +10.3 +9.2 -36.7 AND Lumber—Continued Douglas fir: Production M ft. b. m 568, 960 Shipments (computed) M ft. b. m._ 575, 227 New orders M ft. b m 564, 484 Exports, lumber M ft. b. m 49, 225 Exports, timber M ft. b. m 27, 078 16.50 Price, No. 1 common. dolls, per M ft. b. m._ California redwood: Production (computed) M ft. b. m__ 39, 451 38, 620 Shipments (computed) M ft. b. m 32, 391 Orders received (computed) M ft. b. m California white pine: 167, 244 Proiuction M ft b m Shipments M ft. b. m 129,970 Stocks, end of month M ft. b. m 641, 152 Western pine: Production (computed).. M ft. b. m._ 173, 285 Shipments (computed) M ft. b. m 151, 440 Stocks, end of mo. (computed) _M ft. b. m_. 1, 037, 717 North Carolina pine: Production (computed) _._M ft. b. m.. 63, 504 Shipments (computed) M ft. b. m 55, 979 Northern pine: Lumber— Production M ft b m 45, 825 50, 465 Shipments M ft. b. m _ _ 42, 994 Orders received M ft. b. m LathProduction M ft. b m 12, 144 Shipments M ft. b. m__ 11, 197 Northern hemlock: 29, 207 Production M ft. b. m Shipments M ft b m 19, 285 Northern hardwood: Production M ft. b. m._ 15, 399 29, 508 Shipments M ft. b. m Walnut lumber: Production M ft. b. m 3,363 3,287 Shipments M ft. b. m Stocks, end of month M ft. b. m 20, 688 Walnut logs: 2,897 Purchased M ft log measure Made into lumber and 2,879 veneer M ft. log measure 4,770 Stocks, end of month... M ft. log measure-Hardwoods: Total stocks761, 818 Total hardwoods M ft. b. m 222, 577 Gum M ft b m Oak M ft. b. m 228, 742 Unsold stocksTotal hardwoods M ft. b. m 608, 554 Gum M ft. b. m._ 171, 838 Oak M ft. b. m 178, 850 Unfilled orders — Total hardwoods M ft. b. m 176, 217 Gum M ft b m 60, 712 Oak M ft. b. m 56, 688 Units reporting number. _ 200 All lumber: Production, 10 species M ft. b. m._ 2, 800, 999 Exports, planks, joists, etc M ft. b. m_. 138, 044 Retail yards, Minneapolis Fed. res. dist.— Sales M ft. b m 20, 999 Stocks, end of month M ft. b. m 115,453 Composite lumber prices: 40.58 Hardwoods dolls, per M ft. b. m Softwoods dolls, per M ft. b. m 30.35 Flooring Maple flooring: Production.. _ . _ _M ft. b. Shipments M f t b. Stocks, end of month M ft. b. Orders booked M ft b. Unfilled orders, end of month M ft. b. Oak flooring: Production M ft. b. Shipments M ft b Stocks, end of month M ft. b. Orders booked M f t b. Unfilled orders, end of month. _M ft. b. 1 Bevised. PER CENT INCREASE (+) OR DECREASE ( — ) 1934 600, 295 600, 743 549, 264 61, 457 34, 014 16.50 584, 180 526, 881 621, 782 38, 683 25, 678 16.50 44, 089 36, 641 38, 328 36, 897 38, 216 37, 103 44, 532 32, 755 35, 099 53, 507 41, 104 43, 684 50, 503 37, 195 44, 695 -16.3 +4.3 -3.2 -31.0 -7.0 -15.1 527, 131 413, 804 412, 847 472, 712 427, 194 414, 588 -10.3 +3.2 +0.4 164, 357 145, 665 659, 855 118, 200 111, 350 644, 318 126, 115 102, 239 673, 923 78, 753 89, 684 630, 653 39, 813 85, 378 630, 157 -28.1 -23. 6 -2.4 +50.1 +24.2 +2.2 1, 112, 924 835, 907 1, 320, 520 1, 177, 957 +18.7 +40.9 92, 278 147, 659 120, 413 148, 118144, 203 125, 977 1, 128, 395 1, 116, 779 1, 053, 038 -16. 6 -19.1 +7.1 +21.7 -9.8 +2.8 1, 559, 649 1, 474, 897 1, 696, 895 1,535,157 +8.8 +4.1 i 175, 843 146, 568 i 140, 480 113, 626 11,071,835 1, 148, 409 51, 849 56, 042 58, 821 53, 844 43, 841 44, 919 -6.9 -0.5 -1.0 5.1 545, 890 547, 120 605, 563 570, 619 +10.9 +4.3 35, 591 36, 119 36, 798 41, 333 52, 985 39, 696 9, 185 38, 529 41,976 21, 007 38, 984 50, 693 -60.3 -20.9 -27.8 +66.4 +14.0 -14.2 494, 499 496, 469 482, 181 523, 591 506, 331 456, 725 +5.9 +2.0 -5.3 9,254 4,884 12, 381 10, 108 2,314 5,957 5,831 4,736 -55.6 -31.8 +78.0 +13.1 124, 067 136, 817 136, 065 109, 716 +9.7 -19.8 28, 500 21, 622 21, 293 20, 373 12, 159 17, 191 17, 964 15, 899 8 214, 873 s 193, 954 5 206, 168 « 182, 642 -4.1 -5.8 25, 175 39, 979 14, 430 32, 856 15, 713 26, 835 26, 923 26, 820 « 357, 590 s 288, 740 5 354, 563 5 281, 889 -0.8 -2.4 3,990 3, 889 14, 556 3,990 3,352 15, 176 4,256 3,818 15, 614 -8.1 +24.4 -4.0 -25.3 +13.8 +31.9 38, 091 33, 909 41, 719 37, 493 +9.5 +10.6 +15.1 -34.6 28, 785 33, 168 +15.2 -0.7 +1.8 -36.7 +36.5 29, 703 32, 855 +10.6 +8.0 -2.2 62, 538 51, 352 58, 240 51, 100 38, 491 55, 485 49, 856 15, 286 43, 908 36, 018 9,284 9,881 4,118 6, 735 3,273 3,066 20, 858 2,979 3,813 20, 024 1,842 2,121 3,345 3,243 2,902 2,378 3,930 2,361 4,000 2,997 2,695 3,731 2,931 3,017 2, 686 ! 783, 401 226, 808 243, 417 788, 180 225, 087 249, 340 563, 759 174, 274 193, 997 653, 653 202, 489 222, 837 666, 825 214, 889 227, 743 +0.6 -0.8 +2.4 +20.6 +11.2 +11.9 619, 997 170, 786 193, 980 613, 814 168, 829 195, 297 455, 080 138, 168 159, 771 516, 247 157, 123 173, 532 524, 142 165, 871 180, 474 -1.0 -1.1 +18.9 +7.5 188, 400 67, 143 55, 712 206 207, 561 72, 354 61, 572 216 123, 845 41, 546 39, 738 157 158, 179 54, 135 54, 927 183 167, 924 60, 677 53, 004 182 +10.2 +7.8 +10.5 +4.9 +31.2 +33.7 +12.1 +18.0 2, 509, 998 2, 304, 835 2, 153, 206 157, 877 176, 055 160, 298 -12.2 -12.6 +8.1 26, 882, 851 29, 041, 994 -15.4 1, 778, 391 3,738,874 2, 839, 217 2, 492, 168 170, 376 148, 858 20, 978 104, 922 17, 956 94, 817 40.54 30.35 41.67 30.59 41.69 30.34 18, 643 104,906 17, 525 91, 546 8,987 101, 666 -14.4 -9.5 +2.5 +3.6 42.19 29.79 42.59 30.21 42.63 30.96 +2.8 +0.8 -2.2 +1.3 151, 652 179, 490 +18. 4 m m m m m 9,292 10, 704 22, 750 9,766 9,980 10, 720 9,439 23, 728 7,916 8,219 9,084 •7, 445 25, 072 6,340 7,829 7,707 7,761 23, 073 6,864 8,124 7,946 7,284 22, 931 8, 366 8,859 10,034 6,935 25, 992 10, 652 12, 735 -15.3 -21.0 +5,7 -19.9 -4.7 +14.3 +2.2 +9.3 -24.2 -11.6 93, 198 87, 449 95, 939 94, 276 +2.9 +7.8 86, 363 91, 568 +6.0 m m m m m._ 45, 922 45, 630 38, 372 39, 968 52, 729 49, 498 49, 686 39, 921 40, 094 44, 793 41, 947 39, 276 43, 204 41, 594 50, 565 42, 253 42, 497 41, 105 34, 657 36,005 37, 064 35, 721 41, 795 46, 103 47, 883 36, 975 34, 642 43, 823 39, 887 53, 295 -15.3 21 0 +8.2 +3.7 +12.9 + 3.2 +10.0 +3.4 -9.8 +5.6 38 ,138 389, 025 475, 793 472, 084 +24.8 +21.4 390, 914 461, 922 +18.2 s Ten months' cumulatives, Jan. 1 to Oct. 31, 1925, inclusive. 37 TREND OF BUSINESS MOVEMENTS—Continued 1935 Where available December data have been included in this table. The cumulatives shown are in most instances, however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on pages 29 to 151 of the August, 1925, SeptemOctober ber "Survey" PER CENT INCREASE (+) OR DECREASE (— ) 1924 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEMBER 30 Per cent in- crease Novem- NovemNovember December October Novem- December ber ber, 1925, ber, 1925, ber, 1925 ber, 1924 from from Octo- Novem- or de- crease 1924 1935 1925 from 1924 BUILDING CONSTRUCTION AND HOUSING— Continued Wooden Furniture Piano benches and stools: New orders Unfilled orders ShipmentsValue. Quantity dollars dollars.. 121, 048 40, 648 131, 920 i 44, 440 114, 552 42, 272 120, 088 40, 120 109, 096 39, 528 101, 968 20,456 -13.2 -4.9 +5.0 +6.9 958, 420 970, 852 +1.3 dollars.. pieces.. 105, 800 17, 789 115,024 109, 608 20, 963 19,474 123, 008 19, 751 116, 728 18, 356 119, 640 19, 167 -4.7 -7.1 -6.1 +6.1 957, 130 148, 465 907, 456 147, 647 -5.2 -0.6 30, 072 78 29, 773 104, 286 31, 925 28, 935 74 26, 294 91 23, 000 75 272, 434 312, 214 +14.6 242, 280 244, 562 +0.9 261, 479 14, 358 +6.0 45,840 246, 588 11, 304 51, 161 85, 283 11, 235 176 44, 059 -18.4 -18.9 -37.3 +2.4 -6.7 -88.8 -1.0 -12.8 -32.6 21 7 16, 535 924 59, 496 27, 078 89 22, 833 73, 846 10, 839 1,620 63, 702 23, 611 60 17, 869 101, 915 17, 746 364 50, 669 +27.0 338, 857 104, 066 171, 830 252, 511 115 12 14.75 306, 588 86, 164 172, 542 262, 534 117 18 14.75 279, 188 64, 090 144, 127 239, 636 94 21 14.75 312, 061 44, 543 135, 806 186, 977 111 18 14.00 319, 585 49, 596 126, 945 179, 225 93 24 13.50 354, 477 51, 162 118, 759 202, 906 117 48 13.50 -8.9 -25.6 -16.5 -8.7 -15.3 +16.7 0.0 1, 429, 524 1, 764, 494 +23.4 5,092 5,313 4,404 4,047 3,882 3,289 3,810 1,170 7,910 8,964 8 43, 126 s 37, 820 5 12, 648 5 43, 479 s 43, 647 3 15, 710 +0.8 +15.4 1,134 Brick j Paving brick: ProductionActual . thousands . _ Relation to capacity per cent Shipmp/nts thniisarids Stocks, end of month thousands Orders received thousands.. Cancellations. thousands Unfilled orders end of month ._ .thousands ._ •Common brick: Stocks, end of monthBurned _ thousands Unburned thousands _ Shipments thousands Unfilled orders .. • thousands Firms reporting number. . Plants closed down .. number Price, red, New York dolls, per thous.. 28,482 99, 567 19, 021 3,262 2,362 29,142 73,604 14.75 9,207 +38.0 +63.7 -77.5 +10.5 -12.6 +29.2 +13.5 +33.7 +1.1 -12.5 +9.3 Floor and Wall Tile Production Shipments, quantity Shipments, value Stocks, end of month.. thous. of sq. ft thous. of sq. ft .thous. of dolls. ..thous. of sq. ft . 5,178 1,892 6,617 5,470 2,027 6,542 18, 550 2,156 12, 341 1,607 13, 864 1,696 9,526 954 10, 374 1,106 9,861 1,022 +12.3 +5.5 +33.6 +53.3 133, 380 14, 434 153, 282 18, 434 +14.9 thous. of bbls thous. of bbls thous. of bbls_. 15, 939 17, 711 10, 247 15, 992 15, 309 10, 979 13, 639 10, 169 14, 820 17, 160 13, 141 10, 289 10,435 5,506 -14.7 -33.6 +31.6 +3.8 -1.2 +61.9 138, 424 140, 241 150, 472 3 49, 789 13, 913 +8.7 +6.8 dolls, per bbl_. dolls, per bbl_. 1.75 1.75 1.70 1.75 1.65 1.75 9,730 4,087 6,135 3,711 3,488 1,718 3,211 291, 549 12, 186 292, 662 12, 188 343, 997 11, 935 333, 121 15, 538 3,227 2,416 3,363 2,556 19,043 3,488 20J-445 17, 327 1,946 17, 179 127, 355 85, 555 110, 396 86, 615 110, Oil * 93, 685 88, 980 i 78, 578 1,462 7,821 3,042 +24.2 Architectural Terra Cotta Bookings: Quantity. Value ..net tons _ thous of dolls +27.7 Portland Cement Production . . Shipments •Stocks, end of month Prices: Chicago district Lehigh Valley 6,073 14,450 1.65 1.75 8,928 1.75 1.75 1.75 1.75 1.68 1.75 -2.9 0.0 -5.7 0.0 6,806 3,000 6,958 -43.1 -53.7 +16.3 -9.1 53,446 85, 184 98, 924 61, 447 +16. 1 +15.0 +17.5 +10.5 -2.1 -17.1 3, 204, 197 162, 362 3, 113, 546 135, 266 -2.8 -16.7 Highways 'Concrete paving contracts awarded: Total thous. of sq. yds.. Roads __ .thous. of sq. yds Tederal-aid highways under construction, end of month: Estimated cost thous. of dolls Distance miles 1,891 311, 178 14, 390 4,661 285, 460 13, 287 Roofing Preparing roofing: Shipments thous. of roof squares. . Dry roofing felt: Production ... __ tons Stocks, end of month tons.. 3,176 3,473 23, 272 3,231 23, 946 1,768 2,257 5 26, 794 5 23, 773 -11.3 -20.5 +9.9 191, 694 227, 191 +18.5 -32.0 +14.8 +36.5 +79.2 Sanitary Ware Baths, enamel: J Orders shipped ..number 122, 564 Stocks, end of month .number.. 84, 933 Orders received number i 121, 827 Lavatories, enamel: Orders shipped _ number 139, 858 Stocks, end of month number. 205,012 Orders received number. _ i 145, 226 -Sinks, enamel: Orders shipped number 140, 046 Stocks, end of month number 239, 654 Orders received number i 145, 236 Miscellaneous, enamel: Orders shipped. number 56, 701 Stocks, end of month.. . _ number 151, 433 Orders received number * 57, 629 ^Unfilled orders, end of month: Baths number.. 107, 316 Small ware number.. 261, 737 1 Revised 75,075 73, 724 90, 012 104, 301 * 78, 297 i 110, 347 +28.6 161, 474 i 94, 583 85, 790 83, 861 171, 999 196, 324 i 83, 685 i 127, 240 -25.0 +10.0 -5.3 +29.1 106, 028 239,269 228, 659 i 130, 554 i 121, 985 114, 710 215, 939 i 99, 688 91, 625 99, 857 228, 438 251, 448 i 93, 556 l 132, 658 -27.4 -4.4 -6.6 57, 906 142, 542 i 54, 452 71, 508 158, 351 i 58, 291 50, 716 151, 675 i 50, 175 46,983 146,778 187, 812 i 65, 669 78, 325 206, 451 79, 444 206, 332 64, 876 174, 127 89, 402 254, 625 1 140, 669 105, 523 222,032 201, 847 1 124, 362 i 117, 750 145, 951 79,437 i 192, 610 45, 910 153, 960 93,878 105,497 +15.4 1, 073, 825 1, 232, 275 -15.1 +19.7 1, 074, 754 1, 292, 055 +20.2 +23.0 1, 239, 538 1, 419, 676 +14.5 +40.7 1, 148, 992 1, 465, 360 +27.5 +15.7 +0.1 1, 344, 720 1, 435, 268 +6.7 +30.4 1, 253, 167 1, 479, 556 +18.1 -20.7 +8.0 -14.1 -9.5 +1.5 -6.8 800, 917 703, 083 -12.2 722, 726 650, 717 -10.0 -1.4 +7.2 +18.6 +22.2 +20.7 'en months' cumulatives, Jan. 1 to Oct. 31, 1925, inclusive. 38 TREND OF BUSINESS MOVEMENTS—Continued. PEE CENT INCREASE (+) OR DECREASE (— ) 1924 1925 Where available December data have been included in this table. The cumulatives shown are in most instances, however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on October pages 29 to 151 of the August, 1925, September "Survey" November December Novem November, ber, 1925, 1925, Decemfrom from ber Octo- November, ber, 1924 1925 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEMBER 30 Per cent increase (+) or decrease (-) 1925 from 1924 October November 30, 525 70, 454 27, 867 65, 664 32,316 59, 300 +12.6 +29.5 +52.1 +12.5 196, 743 925, 330 234, 114 1, 071, 790 +19. 0 +15.8- 849 102, 371 842 78, 366 948 91, 371 +6.5 -25.5 10, 324 979, 224 6,955 1, 020, 962 -32. a +4. a -8.4 +36.1 2, 833, 310 3, 475, 234 +7.1 +45.1 14, 691, 495 22, 796, 727 +22.7 +55. 2 1924 1925 CHEMICALS AND OILS Imports: 19, 646 17, 455 Potash _ long tons _ 29, 451 73, 892 Nitrate of soda long tons 48, 587 56, 764 Exports: 383 408 Sulphuric acid thous. of lbs_. 478 87, 568 65, 260 Total fertilizer 1 long tons 110, 558 Dyes and dyestuffs — 306, 067 Vegetable Ibs 235, 796 333, 986 Coal-tar Ibs 2, 511, 898 1, 717, 766 1, 840, 426 Price index numbers: 191 195 Crude drugs index number 196 215 191 Essential oils . index number 179 157 158 Drugs and pharmaceuticals.index number.. 158 113 113 Chemicals index number 113 156 158 Oils and fats index number 156 Price, sulphuric acid 66° .70 .70 N. Y dolls, per 100 Ibs .70 224, 963 355, 104 340, 294 1, 079, 935 1, 267, 978 1, 021, 596 -51.5 -16.7 -2.1 -14.0 +12.6 +45.3 0.0 -0.6 0.0 +0.9 -1.3 +3.3 113 156 212 142 156 110 147 222 148 157 112 151 231 153 155 112 158 .70 .70 .70 .70 0.0 10, 327 11, 698 11,890 3,512 3.00 10, 317 9,026 13, 499 980 3.00 +1.0 -1.7 -5.7 3.13 9,803 12, 047 15, 259 1,367 3.00 539, 333 562, 828 526, 192 621,412 627, 586 596, 706 1, 551, 678 1, 372, 786 1, 315, 166 +2.0 -6.9 -7.4 -12.3 -10.6 -19.5 -45.6 0.0 0.0 Wood Chemicals Acetate of lime: Production thous. of Ibs 11, 114 Shipments or use thous. of Ibs.. i 12, 335 Stocks, end of month thous. of Ibs U5,084 Exports thous. of Ibs 1,340 Price, wholesale dolls per cwt 2.75 Methanol, crude: * Production gallons 1534,412 Shipments or use _ gallons.. i 605, 098 Stocks, producers', end of month.. gallons.. 11,413,625 Purchased by refiners * gallons. _ 454, 391 619, 182 Consumed by refiners * gallons Stocks at refineries, end of month e.gallons.. 1, 362, 188 Exports _ .gallons.. 15, 320 Wholesale price, N. Y ..dolls, per gal... .58 Canada— Consumed .gallons.. 22, 188 Stocks, end of month gallons.. 19, 889 Methanol, refined: « United States509, 195 Produced gallons Stocks, end of month, at refineries gallons 526, 176 Canada21, 185 Produced gallons 40, 129 Stocks, end of month gallons Wood at chemical plants: 59, 144 Consumption (carbonized) cords Stocks end of month cords i 495, 043 Daily capacity, wood-chemical plants: 4, 639 Total in industry cords Reporting cords 3,668 507 Shut down _ cords.. i 11, 094 i 12, 224 i 13, 587 426 2.75 11, 202 12, 012 12, 806 4,571 3.00 i 555, 629 566, 726 685, 808 i 736, 592 11,237,299 1, 146, 303 597, 836 681, 985 809, 507 905, 952 1, 064, 365 856, 751 19, 558 10, 643 .58 .58 .58 +8.5 +2.7 +7.7 +30.2 +9.1 0.0 108,887 108,807 124, 880 123,533 +14. 7 +13. 5 22, 126 19, 069 -13.8 +0.7 +9.3 -16.5 6, 371, 397 6,501,661 6, 348, 487 6, 582, 370 -0.4 +1.2 -74.8 -14.7 605, 327 +9.3 -17.5 683, 344 668, 795 -2.1 s 126, 480 « 95, 943 5 153, 399 « 137, 477 +21. a -4.3 -6.9 -1.4 -0.9 -4.3 -4.1 -8.3 -18.5 373, 673 380, 665 362, 138 377, 921 380, 681 365, 027 +1.1 0.0 +0.8. -27.8 -12.5 284, 344 271, 714 -4.4 988, 327 990, 273 +0.2 39, 555 758, 207 59, 106 594, 437 +49.4 -21. & 211, 400 212, 596 +1.3 +54.0 209, 875 207, 750 -2.5 +45.9 « Ten months' cumulatives, Jan. 1 to Oct. 31, 1925, inclusive. • See tables on p. 22 of the November, 1925, issue for earlier data. +0.6-1.0 50, 901 .69 42, 218 .68 35, 310 .68 40, 895 33, 186 +235. 2 -9.3 671, 808 655, 541 -2.4 515, 917 495, 492 -4.0 11, 500 32, 443 39, 200 40, 846 +240. 9 +25.9 i 58, 493 i 476, 386 60, 129 444, 716 57,624 633, 428 55, Oil 538, 798 55, 585 527,802 4,639 3,668 i 733 4,639 3,668 721 4,819 3,784 709 4,819 3,712 581 4,819 3,712 275 15, 962 14, 515 2,881 16, 452 16, 211 1,975 17, 930 19,423 1,350 12,200 36, 606 +2.8 -6.6 335,093 -44. 6 0.0 -3.7 0.0 -1.2 -1.6 +24.1 Ethyl Alcohol Production ...thous. of gals.. Wthdrawn for denaturation thous. of gals.. Warehouse stocks, end of month, thous. of gals.. 19, 859 18, 021 8,913 21, 541 21, 624 7,411 35, 844 35, 454 33, 020 17,335 33, 049 33, 414 32, 594 16, 309 31, 638 33, 127 31, 181 14,958 41, 030 39, 236 36, 554 18, 194 33,973 33, 591 32, 513 18, 355 31, 208 31, 411 30, 569 18, 181 34, 013 48, 149 26,367 48, 404 18, 001 45, 046 26, 858 41, 587 24, 924 51, 489 26, 189 61, 379 +43. a Explosives (Black powder, permissibles, and other high explosives) Production Shipments Sales Stocks thous. of Ibs thous. of Ibs thous. of Ibs thous of Ibs Naval Stores Turpentine: Net receipts southern ports barrels Stocks, ports end of month barrels.. Price, southern, in barrels,* New York dolls per gal Rosin: Net receipts, southern ports barrels.. Stocks, ports end of month barrels.. Price, common to good (B),« New York dolls per bbl 1.121 1.128 1.116 115, 023 181, 940 100, 264 181, 613 77, 491 196, 939 14.19 15.88 15.94 1.017 14.07 .880 .851 .837 92, 962 228, 614 105, 007 228, 673 119,216 256, 482 7.16 7.60 7.60 2,669 40, 924 9,770 55, 582 9,853 53, 486 -31.7 -6.9 -1.1 +31.1 -22.7 +8.4 -26.2 -13.9 +0.4 + 109.7 Fats and Oils Total vegetable oils: 8,183 9,635 3,923 Exports thous. of Ibs 52, 179 59, 534 32, 057 Imports thous. of Ibs Oleomargarine: 25,947 26, 275 Production thous. of Ibs 19, 328 24, 974 25, 612 Consumption . ..thous. of Ibs. _ 20, 057 i Revised. s See table on p. 17 of the October, 1925, issue for earlier data. 20, 054 19, 217 17, 062 17, 115 20, 135 19, 997 + 17.7 +14.1 -1.4 +7.1 39 TREND OF BUSINESS MOVEMENTS—Continued 1935 Where available December data have been included in this table. The cumulatives shown are in most instances, however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on pages 29 to 151 of the August, 1925, SeptemOctober ber "Survey" PER CENT INCREASE (+) OR DECREASE (— ) 1924 November December October November Novem- November, ber, 1925, 1925, Decemfrom from ber Octo- November, ber, 1925 1924 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEMBER 30 1924 1925 Per cent increase ( ) or tdecrease (-) 1925 from 1924 CHEMICALS AND OILS-Continued Cottonseed Cottonseed stocks, end of month tons_. 776, 017 1, 270, 770 1,364,147 Cottonseed oil: Stocks, end of month thous. of lbs._ 55, 972 91,976 111, 333 Production thous. of lbs__ 142, 939 232, 566 233, 637 Price, yellow, prime, New York dolls, per lb_. .107 .099 .101 873, 368 11,190,920 1, 223, 863 83, 497 i 106, 426 213, 659 i 224, 996 +7.3 +14.5 105, 520 209, 471 +21.0 +0.5 +4.6 +3.8 +2.0 -8.2 .106 .113 .110 .114 1,378 781 2,391 10, 242 6,097 2,455 8,474 6,792 2,096 2,018 1, 565 1,545 941, 568 1, 285, 800 +36.6 Flaxseed Minneapolis and Duluth: Receipts.. . thous. of bushs Shipments thous. of bushs Stocks thous. of bushs.. Linseed oil: Shipments from Minneapolis thous. of Ibs Linseed-oil cake: Shipments from Minneapolis thous. of Ibs . 5, 593 1,965 2,453 5,515 2,593 3,302 3,522 3,554 2,488 -36.1 -58.4 +37.1 -47.7 -24.7 +18.7 25, 510 16, 693 21, 953 11, 177 -13.9 -33.0 13, 840 17, 769 14,676 11, 848 18, 564 17, 947 16, 825 -17.4 -18.2 114, 674 150, 599 +31.3 24,916 33,958 35, 190 32, 563 29, 281 29, 572 31, 274 -3.6 +19.0 177, 161 258, 833 +46.1 415, 697 281, 575 697, 272 415, 697 281, 575 697, 272 398, 486 270, 879 669, 365 49, 651 76, 239 36, 045 24, 508 49, 774 103, 584 34, 127 22, 324 55, 024 119, 077 34, 897 22,448 454, 237 326, 040 325, 023 232, 739 -28.4 -28.6 4,354 8,910 4,696 8,621 -83.1 -75.4 148, 512 214, 282 88, 706 131, 309 -40.3 -38.7 41, 896 34, 840 16 8 +29.1 184, 783 165, 337 -10.5 1.549 1.635 1.612 1.711 Wheat, ground thous. of bushs.. 45, 952 i 49, 799 Production, wheat flour. _ .thous. of bbls.. 9,938 i 10, 728 Production, grain offal i .thous. of lbs__ 833, 270 1907,390 Per cent of capacity operated per cent.. 62 61 FOODSTUFFS Wheat Production, monthly estimate: 6 Winter thous. of bushs.. 415, 697 Spring. thous. of bushs.. 283, 872 Total thous. of bushs.. 699, 569 Visible supply: United States .thous. of bushs.. 54, 543 Canada. thous. of bushs. _ 58, 366 Eeceipts, principal markets. __ thous. of bushs.. 57, 862 Shipments, prin. markets thous. of bushs.. 28, 151 Exports: United StatesWheat only. thous. of bushs 9, 391 Including wheat flour.thous. of bushs. _ 12, 092 CanadaWheat only thous. of bushs 15, 876 Prices: No. 1, northern, Chicago ..dolls per bush.. 1.555 No. 2, red winter, Chicago. dolls, per bush.. 1.667 589, 632 272, 995 862, 627 -32.4 -0.8 -22.4 +0.2 -52.8 +35.9 +35.0 -5.3 -43.6 -8.9 -55.5 96, 528 52, 099 88, 022 72, 066 105, 533 76, 740 60, 503 50, 151 96, 114 79, 221 36, 293 32, 651 45, 128 53, 538 27, 831 35, 102 17, 791 24, 326 14, 288 26, 982 29, 847 1.486 1.528 1.529 1.574 1.687 1.769 +4.1 +4.6 +5.4 +8.7 42,322 9,108 766, 392 57 51, 863 11,371 977, 381 65 41, 982 9,187 719, 164 59 40, 428 8,855 695, 925 53 -15.0 -15.1 -15.5 -6.5 +0.8 -0.9 +6.6 -3.4 454, 892 98, 457 8, 121, 959 436, 285 94, 822 7, 668, 642 -4.1 -3.7 -5.& 2.5 1.768 1.796 +7.9 -3.2 Wheat Flour (Bureau of the Census) -5. a (Russell's Commercial news) Production thous. of bbls. _ Consumption thous. of bbls.. Stocks, all positions, end mo.. .thous. of bbls.. Exports (Department of Commerce): United States thous. of bbls.. Canada _ .thous. of bbls. _ Wholesale prices (Dept. Labor): Flour standard patents, Minneapolis _ dolls, perbbl.. Flour, winter straights, Kansas City dolls, perbbl.. 12, 501 10, 701 8,400 13,165 12, 655 7,900 10, 869 10, 101 7,800 13, 404 11, 107 9,100 11, 665 11, 468 7,700 11, 007 10, 555 6,700 -17.4 -20.2 -1.3 -6.8 -11.1 +1.3 121, 556 106, 068 114, 413 103, 396 800 661 1, 012 1,022 872 1,210 1,872 1,145 1,616 905 1,452 828 -13.8 +18.4 46.0 +33.7 14, 576 10, 648 10,112 9,275 -30.6 8.310 8.263 8.538 9.180 8.013 8.163 8.895 +3.3 +4.6 7.431 7.410 7.613 7.888 6.669 6.870 7.788 +2.7 +10.8 7,143 1,062 10, 181 1,197 9,499 1,257 9,558 1,097 7,644 1,218 6,473 1,134 -6.7 +24.3 +5.0 +3.2 82, 540 11,498 75, 465 9,070 -8.6 -21.1 1,601 15, 043 2,451 12, 592 2,308 17, 782 5,279 12, 503 2,127 17, 704 3,790 13, 914 2,143 15, 945 2,568 13, 377 1, 708 16, 199 3,703 12, 496 1,440 14, 467 2,842 11, 625 -7.8 +24.5 -0.6 +9.3 -0.4 +2.3 +11.3 +11.3 18,491 169, 870 46, 910 122, 960 16, 826 116, 923 25, 517 91, 406 -9. 0 -31. 2 -45. 6 -25.7 -6.3 +39.3 +43.3 -11.5 -7.7 +25.4 +29.8 -61.9 +21.2 +7.9 +19.6 19, 595 10, 040 -48. 8. 249, 195 159, 028 69, 825 194, 463 123, 002 63, 775 -22. a +1.6 -25.6 -12.9- Canadian Milling Gringings: Wheat thous. of bushs.. Oats thous. of bushs. . Production: Wheat flour thous. of bbls Total oatmeal and rolled oats thous. of Ibs Oatmeal thous. of Ibs Rolled oats thous. of Ibs Corn Production, monthly est.6 thous. of bushs_. 2,885,108 2, 917, 836 3, 013, 390 2, 900, 581 2, 312, 745 Exports, including meal thous. of bushs 1,240 932 1,292 729 1,210 571 5,912 Visible supply thous. of bushs 8,072 2,209 19, 095 3,077 8,497 19, 693 Receipts, principal markets. ..thous. of bushs.. 12, 583 32, 180 12, 881 19, 511 15, 223 18, 456 28, 953 Shipments, prin. markets thous. of bushs.. 8,318 7,692 12, 131 7,126 8,693 9,365 11, 826 5,902 Grindings (starch, glucose) thous. of bushs... 5,433 7,037 6,497 6,926 5,520 Prices, contract grades, No. 2, Chicago dolls, per bush.. .917 .797 .841 .828 1.130 1.105 1.233 i Revised. «Total crop estimated in month indicated. Data for a year ago represents revised final estimate of the 1924 crop. -22. 7 -8.7 40 TREND OF BUSINESS MOVEMENTS—Continued Where available December data have been included in this table. The cumulatives shown are in most instances, however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on pages 29 to 151 of the August, 1925, *'Survey" 1925 September October PER CENT INCREASE (+) OR DECREASE (— ) 1924 November December October November 39, 149 71, 157 2,735 18, 620 71, 997 1,366 .522 .524 Novem- Nfovember, ber, 1925, 1925, Decemfrom from ber Octo- November, ber, 1925 1924 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEMBER 30 1924 1935 244, 816 218, 567 Per cent increase (+) or decrease (-) 1925 from 1924 FOODSTUFFS— Continued Other Grains Oats: Production, monthly est. 6 thous. of bushs__ 1, 461, 945 1, 470, 384 1, 470, 384 1, 501, 909 Receipts, principal 15, 582 14, 094 29, 243 18, 918 markets thous. of bushs 66, 762 69, 960 68, 739 69, 216 Visible _ _ .thous. of bushs _. 4,744 6,279 2,443 Exports, including meal thous. of bushs Prices, contract grades, .422 .402 .398 .403 Chicago dolls, per bush Barley: 226, 786 226, 786 221, 713 218, 002 Production, monthly est.^ thous. of bushs Receipts, principal 4,791 14, 993 6,445 markets thous. of bushs 7,257 5,642 6,422 6,036 Visible supply thous. of bushs 9,103 3, 043 2,493 Exports thous. of bushs Price fair to good, malting, .716 .751 .715 .743 Chicago dolls, per bush Rye: 48, 696 51, 768 51, 968 51, 768 Production, monthly est.6 thous. of bushs.. Receipts, principal , 3,304 6,639 2,598 markets thous. of bushs _ 1,054 127 62 Exports, including flour.__ thous. of bushs.. 1.038 .883 .838 .857 Price, No. 2, Chicago dolls, per bush _ — 1.4 1, 522, 665 19, 738 * 76, 343 1,171 -25.5 -0.7 —48.5 .598 +0.2 7,258 5,484 2,710 .908 .864 7,159 -10.7 34, 837 +386. 6 -23.1 +22.3 178, 322 12, 296 5,209 5,315 -24.3 -4.5 +78.5 5,405 5,484 1,744 -25.7 +13.8 -18. 1 -34.0 +17.2 -8.0 .935 -3.8 -17.2 57, 078 61, 835 +8.3 15, 978 27, 619 +72.9 -24.0 64, 038 17, 708 10, 927 1.275 8,932 1,323 1.312 3,802 856 1.404 -21.4 -51.2 +2.3 -70.9 -95.3 -34.7 61, 165 36, 124 27, 622 28,804 -54.8 -20.3 73, 243 41,433 28, 668 -18.1 -64.2 293, 137 234, 468 -20.0 33, 249 972, 700 +22.2 +2.1 -40.6 7, 516, 404 4, 247, 267 -43.5 -0.9 -7.3 -35.8 -49.1 7, 362, 637 1, 726, 206 5, 692, 171 1, 403, 118 -22.7 -18.7 +45.1 -51.9 +27.0 +58.8 +47.5 -80.7 353,292 1, 272, 018 608, 510 584, 865 +72.2 54 0 Total Grains Total grain exports, incl. flour. thous. of bushs. _ 30, 668 14, 829 18, 116 Bice Production, monthly est.4 Southern paddy receipts at Shipments: Total from mills New Orleans Stocks end of month, mills and dealers Imports Exports thous. of bushs.. mills bbls 35,284 853, 380 35, 810 35, 810 925, 254 1, 130, 866 pockets (100 Ibs.) pockets (100 Ibs.) 619, 078 135, 778 842, 366 186, 218 pockets (100 Ibs.) pockets (100 Ibs.) pockets (100 Ibs ) 632, 444 24,409 13, 293 751, 680 1, 090, 571 18, 568 23, 586 28, 248 41, 666 Other Crops Apples: Cold-storage holdings (end of month) thous of bbls Car-lot shipments _ _ _ _ _ _ carloads. _ Potatoes, car-lot shipments carloads.. Onions, car-lot shipments _ . __ __ carloads. _ Citrus fruits, car-lot suipments carloads Hay, receipts _ _ ._ tons _ 834,604 172, 564 1,422 19, 103 22, 763 3,994 2,379 79, 516 7,489 41, 324 32, 545 5,157 2,639 76, 687 9,398 19, 478 15, 980 2,968 9,229 84,068 2,157 938 422 1,227 2,789 1,348 697 1,450 473, 961 469, 523 9,520 569, 094 556, 161 8,634 40, 719 47, 481 12.44 .185 .173 11.91 .185 .160 33, 959 2, 182, 793 1, 905, 168 1, 303, 227 1, 300, 775 204, 210 300, 075 339, 350 933, 878 151, 143 1, 567, 621 2, 265, 121 2, 346, 514 11, 918 27, 444 14, 855 89, 679 216, 418 275, 318 8,502 7,244 11, 125 1,554 9,350 6,673 +25.5 6,068 -52.9 12, 75? -50.9 1,869 -42. 4 11, 187 +249. 7 +9.6 74, 303 +21.4 +2.3 -20.9 + 3.2 - 18.4 +3.8 102, 040 229, 380 28, 151 91, 551 8 85, 770 -18.2 -24.6 -32.3 -15.0 -3.4 -7.2 -14.0 -2.8 21, 613 8,877 3,658 12, 584 22, 012 8,603 3,459 13, 214 +1.8 -3.1 -5.4 +5.0 441, 160 389, 108 9,329 -20.7 -24.8 -9.3 -2.5 +0.6 -45.7 4, 810, 840 4, 675, 589 150, 106 4, 954, 647 4, 906, 827 114, 641 +3.0 +4.9 -23.2 48, 809 17, 933 460 30, 853 39, 549 14,648 495 24, 889 -19.0 -18.3 +7.6 -19.3 7, 737, 354 6, S^o, 055 6, 421, 743 6, 017, 206 1, 574, 856 1, 109, 641 -15.0 -6.3 -29.5 1, 737, 594 867, 210 -23.8 -28.7 5,758 35, 937 32, 524 4, 545 4,185 95, 037 7,743 19, 045 20, 191 2,876 11, 307 81, 001 2,282 1,017 472 1,232 2,737 1,339 751 1,432 2,363 1,096 549 1,267 2,083 816 309 1,265 451, 396 418, 176 7,831 551, 766 515, 746 16, 763 463, 064 415, 825 14, 417 103, 184 +1.1 223, 893 -2.4 27, 887 -0.9 78,236 -14.5 785, 790 -11.3 Cattle and Calves Cattle movement, primary markets: Receipts _ thousands _. Shipments total thousands Shipments stocker and feeder thousands Local slaughter thousands Beef products: Inspected slaughter product thous of Ibs Apparent consumption thous. of Ibs Exports thous of Ibs Cold-storage hofdings, end of month thous. of Ibs Prices, Chicago: Cattle, corn-fed dolls, per 100 Ibs Beef fresh native steers dolls- per Ib Beef, steer rounds, No. 2 dolls, per lb__ 1 73, 564 84, 725 67, 244 100, 239 142, 964 +54.9 -26.6 10.58 .178 .143 10.04 .170 .131 9.50 .172 .136 9.16 .183 .129 9.55 .183 .125 —11.2 -3.8 -10.6 +15.5 -2.7 +10.9 3,990 1,469 56 2,525 4,904 1,760 40 3,132 6,604 2,271 38 4,335 +13.4 +15.2 +35.6 +10.5 -21.6 -13.4 +52. 5 -26.6 560, 043 637, 521 132, 686 668, 552 550, 235 91, 730 912, 990 544, 263 120, 607 +40 -11.7 -6.0 -9,3 -2.1 -16.7 439, 437 463,V233 i 708, 413 -2.6 -9.6 407, 731 427, 520 647, 364 -1.9 -9.9 106, 781 60, 813 130, 184 49, 120 192, 596 76, 803 +1.8 -10. 7 -18.4 -18.6 31, 706 35, 713 61, 049 -9.5 -5.6 Hogs and Pork Hog movements, primary markets: 2,741 3,390 3,844 Receipts - thousands. 1,092 1,524 1,323 Shipments, total thousands 33 45 61 Shipments, stocker and feeder. thousands. . 1,645 2,300 2,081 Local slaughter thousands Pork products, total: Inspected slaughter product, .thous. of Ibs. _ 465, 179 583, 564 606, 705 Apparent consumption.. thous. of lbs_. 521, 474 609, 667 538, 597 81, 321 76, 418 Exports thous. of lbs__ 100, 152 Cold-storage holdings, total, 539, 069 1 429, 861 1 418, 737 515, 292 end of month thous. of Ibs Fresh and cured in storage, 467, 443 1 392, 605 1 385, 027 472, 337 end of month thous. of Ibs Lard (included in pork products) : Production _ .. __ __ thous. oflbs.. 84, 972 104, 288 106, 206 147, 307 39, 979 60, 646 44, 745 Exports thous. of Ibs Cold-storage holdings, 33, 710 42, 955 71, 626 37, 256 end of month thous. of Ibs Prices: 10.88 12.88 11.69 11.32 Hogs, heavy, Chicago.. .dolls, per 100lbs_. .280 .292 .282 .283 Hams, smoked, Chicago dolls, per lb_. .150 .178 .164 .162 Lard. Drime contract. N. Y. dolls. Per lb._ 1 « Total crop estimated in month indicated. Data Revised. 9.58 10.78 .205 .216 .153 .165 for a year ago represent 9.96 .207 .169 revised 1, 322, 725 617, 969 -3.2 +18.2 -0.4 +37.6 -1.2 +5.9 final estimate of the 1924 crop. i 1 41 TREND OF BUSINESS MOVEMENTS—Continued 1925 Where available December data have been included in this table. The cumulatives shown are in most instances, however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on pages 29 to 151 of the August , 1925, SeptemOctober ber "Survey" PER CENT INCREASE (-{-) OR DECREASE (— ) 1934 November December October November Novem- November, ber, 1925, 1925, Decem- from from ber Octo- November, ber, 1924 1925 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEMPER 30 1924 1925 Per cent increase ( } or-tdecrease & from 1924 FOODSTUFFS— Continued 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 lbs_Apparent consumption thous. of lbs_Cold-storage holdings, end of month. _ _. . thous oflbs Prices: Sheep, ewes, Chicago. ..dolls, per 100 lbs._ Sheep, lambs, Chicago .dolls, per 100 Ibs 2,627 1,613 839 981 3,198 2,287 1,338 945 1,712 927 460 793 3,295 2,267 1,441 1,020 1,879 1,154 676 540 1,605 750 206 854 -46.5 -59.5 -65.6 —16.1 -8.9 -19.7 -32.0 +46.9 20,596 11, 043 4,474 9,310 20,492 10, 844 4,020 9,560 +0.5 -1.8 -10.1 +2.7 41, 117 41, 584 41, 701 40, 537 34, 049 33,609 43, 566 42,847 35, 801 35, 600 32, 803 33, 106 -18.3 -17.1 -4.9 -5.6 417, 676 428,028 428,008 416, 985 +2.5 -2.6 1,112 1,435 1,549 1,825 3,166 3,326 2,949 +17.8 -45.1 6.19 15.09 6.41 14.81 6.79 15.25 8.06 15.94 5.81 13.44 6.33 13.34 7.58 15.98 +5.9 +3.0 +7.3 +14.3 1, 155, 375 1, 167, 417 1, 386, 953 509, 84T 566, 798 i 854, 056 1, 196, 114 1, 001, 660 966, 477 -8.6 +3.1 -15.3 -6.4 12, 965, 870 11, 957, 710 -12. 7 -1.1 11, 514, 317 12, 161, 749 +5.6 283, 817 252,412 -11.1 229,410 +19.7 Total Meats Production, inspected slaughter, thous. oflbs 980,257 1, 194, 359 1, 092, 150 Cold-storage holdings, end mo._thous. of lbs_. 580, 900 478, 777 i 493, 850 Apparent consumption -thous. oflbs 1, 032, 579 1, 169, 154 990, 382 Poultry Receipts at five markets Cold-storage holdings, end of month 601, 842 thous. of lbs._ 18, 804 27,507 62,272 68,385 27,263 61, 784 79, 368 +126.4 -0.8 thous. oflbs 44,345 53, 787 86, 733 111, 459 55, 139 87, 939 133,990 +61.3 -1.4 Total catch, prin. fishing ports.. thous. of Ibs. . 28,184 21, 186 Cold-storage holdings, 15th of mo .thous. of lbs_. 55, 447 58, 358 Canned salmon, shipments cases. - 1,205,930 1, 370, 878 Dairy Products Butter: Receipts, 5 markets thous. of lbs_. 45,005 43,468 Cold-storage holdings, creamery, end of month thous. of lbs__ 114, 172 94,916 Apparent consumption thous. of lbs_. * 172, 328 163,609 Wholesale price, 5 markets... dolls, per lb__ .488 .514 Cheese: Receipts, 5 markets thous. of Ibs. . 20, 520 21,029 Cold-storage holdings, American, end of month thous. of Ibs. _ 78, 582 71, 913 Wholesale price, 5 markets dolls, per Ib .241 .252 Eggs: Receipts, 5 markets thous. of cases 930 709 Cold-storage holdings thous. of cases.. 8,612 6,322 15, 174 61, 822 503, 149 20,215 67, 025 1, 085, 539 14, 040 70, 406 687,168 12, 353 68,325 614, 164 -28.4 +5.9 -63.3 +8.1 -12.2 -26.8 5, 887, 264 -7.8 Fish 5, 936, 196 +0.8 -3.3 35, 455 36, 199 41,949 30, 161 33, 155 -18. 4 +17.6 554,322 535, 799 174,754 140, 254 .511 52,708 135, 018 161, 158 .385 100, 832 148, 757 .418 65, 694 156, 398 .440 -18.4 -14.3 -0.6 -25.9 -5.7 +22.2 1, 777, 704 1,759,621 200,131 207,841 +3.9 14,880 14,851 -0.2 60, 874 38, 503 -36.7 134, 276 99, 484 -25.9 40, 818 40, 765 -0.1 5,042 3,405 —32.5 176,462 «27,463 182, 234 29, 539 +3.3 +7.6 -1.0 17, 059 14,012 17,479 14, 883 14, 921 -18.9 +14.6 i 66, 495 .254 58, 548 67, 905 .197 58, 705 .202 49, 187 .221 -7.5 +0.8 +13.3 433 3, 786 625 1,677 747 5,267 456 3,102 524 1,050 -38.9 -40.2 -5.0 +21.9 18, 070 13,974 14,604 11, 802 11,830 9,161 -14.7 +103. 3 -29.5 -61.9 13, 282 6,330 6,265 5.85 10, 650 6,212 4,306 5.85 2,149 4,168 3,096 5.87 -15.1 +127. 0 -32.0 -64.9 -27.2 -23.0 +3.1 0.0 147, 596 133, 093 102, 337 -8.9 —1.4 112, 553 16, 335 3.89 100, 639 10, 818 3.92 40, 032 7,766 3.99 —4.1 19.4 +3.0 -57.0 3,496 2,969 4,087 319 11, 827 180 8,805 214 8,017 -8.4 +136. 1 -15.9 -33.8 319 9,367 1,262 180 6,029 1,260 206 5,259 487 -8.4 +136. 1 -23.6 -47.4 +87.1 -70.2 15, 506 2,550 14,926 2,403 14, 701 2,434 18, 038 17, 303 19, 757 214, 994 • 235, 065 +9.3 305 274 375 84,847 «4,384 -9.5 Milk Condensed milk: Manufacturers' total stocks— Case goods..,. thous. of lbs__ 42, 208 34, 792 29, 685 Bulk goods ___thous. oflbs.. 7,340 16,370 4,493 Manufacturers' unsold stockCase goods . thous of Ibs 33, 888 28,489 24, 180 Bulk goods thous. of lbs_. 3,346 i 3, 210 2,182 Exports thous. of Ibs 2,348 4,552 3,316 Wholesale price, New York*. dolls, per case5.88 6.03 6.03 Evaporated milk: Manufacturers' total stocks, case goods thous. of lbs__ 157, 381 144,010 131, 199 Manufacturers' unsold stocksCase goods _ thous. of lbs_- 121, 745 108, 185 103, 700 Exports thous. of lbs_. 13,339 5,771 4,654 Wholesale price, New York*. dolls, per case_. 4.49 4,49 4.49 Powdered milk: 1 Sales, less resales __thous. of lbs_. 3,636 3,482 Manufacturers' total stocks*— Case goods thous. of lbs._ 527 465 426 Bulk goods thous. of lbs._ 8,289 16,931 5,832 Manufacturers' unsold stocks*— Case goods thous. of lbs._ 527 465 426 Bulk goods thous. of lbs_. 5,607 l 4, 169 3,186 Exports thous. oflbs . 392 201 376 Fluid milk: ReceiptsBoston (includ. cream) thous. of qts_. 16, 305 16, 277 15, 649 Greater New York .... thous. of cans 2,647 2,587 2,496 Production— Minneapolis district (excluding cream) thous. of lbs_. 18, 322 19, 417 Minneapolis district (cream) thous, of Ibs.. 290 290 i Revised. « Ten months' cumulatives, Jan. 1 to Oct. 31, 1924, inclusive. * See table on p. 21 of the December, 1925, issue for earlier data 191, 703 6.04 4.54 -3.9 -3.5 +25.7 +4.8 +3.9 i See p. 26 of the October, 1925, issue for earlier data. *See p. 23 of the November, 1925, issue, for earlier data. • See table on p. 22 of the December, 1925, issue for earlier data. 42 TREND OF BUSINESS MOVEMENTS—Continued. Where available December data have been included in this table. The cumulatives shown are in most instances, however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on pages 29 to 151 of the August, 1925, "Survey" 1935 PER CENT INCREASE (+) OR DECREASE ( — ) 1924 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEM- Novem- NovemSeptember October November December October November December ber, 1925, ber, 1925, ber, 1925 ber, 1924 from from Octo- Novem- 1934 | 1 Sugar Raw: Imports longtons.. 321, 620 Meltings, 8 ports long tons 459, 875 Stocks at refineries (end of month) _ _ _. long tons. _ 187, 739 Receipts, domestic, at New Orleans .long tons.. None. Refined, exports ._ long tons. . 40, 624 Prices: Wholesale, 96° centrifugal, N. Y dolls, per Ib . .043 .054 Wholesale, granulated, N. Y._dolls. per lb_. .062 Retail, granulated, N. Y dolls, per lb_. .127 Retail, average, 51 cities index number. . Cuban movement: Receipts at Cuban ports long tons.. 158, 009 Exports long tons 371,200 Stocks, end of month long tons.. . 594,378 Tea iTnports 1925 from 192,4 1935 FOODSTUFFS— Continued Coffee Imports . . . Visible supply: World _ United States Receipts, total, Brazil •Clearances: Total, Brazil, for world Total, Brazil, for U. S Per cent increase ( } or tdecrease BER 30 3,541,116 3,768,685 4, 763, 766 < +6.4 +8.4 41, 394 31, 838 328, 013 -23.6 +67.1 3, 889, 518 3, 875, 404 4,861,404 4, 614, 219 +25.0 +19.1 1, 302, 456 1, 154, 616 -11.4 13, 248 10, 624 -19.8 12, 964 12, 068 6,346 -6.9 -1.7 +2.9 83, 718 90, 778 +8.4 -0.5 +21.7 6,147 65, 566 6,027 73, 708 -2.0 +12.4 240, 100 385, 647 220, 184 262, 894 349, 139 242, 353 344, 404 155, 161 221, 836 134, 073 151, 541 94,511 835 2], 614 92, 709 25, 248 19, 131 120, 146 27, 583 66, 522 163 32, 172 14, 057 1,843 49, 393 5,388 .039 .050 .059 .124 .040 .051 .058 .120 .041 .053 .060 .073 .081 .160 .058 .073 .082 .160 .053 .072 .080 .160 125, 012 460, 709 88, 119 262, 855 292, 119 181, 448 327, 298 132, 148 85, 762 194, 683 145, 422 43, 574 148, 987 41, 460 101, 126 109, 020 23, 850 133, 497 116, 349 114, 113 +3.0 -1.0 5,734 5,388 -0.9 611 980 +35.3 -9.4 -11.1 -1.7 -8.4 -17.4 +11.5 +4.9 +13.5 281,210 thous. of Ibs. . 133, 463 111, 920 115, 225 thous. of bags. _ thous. of bags.. thous. of bags.. 5,087 716 1,494 5,082 5,035 thous. of bags.. thous. of bags.. 1, 434 705 1,536 680 1,269 758 thovis of Ibs 11, 993 13, 088 11, 067 583 1,262 789 1,144 5,080 37,812 863 880 1,187 772 1,536 5,661 803 1,249 1,195 731 1,730 827 1,210 668 923 530 11, 794 10,751 8,688 -8.3 -31.8 +41.9 +18.5 -1.9 +188. 2 +79.6 0) -11.5 +3.8 +2.6 +2.0 -1.7 -3.2 195,711 -31.0 -30.1 -29.3 -25.0 -29.5 +102. 2 -6.5 +76.4 -36.6 +604.6 -15.4 4, 395, 708 6,459 TOBACCO Consumption (tax-paid withdrawals) : Large cigars . millions. _ 711 576 598 Small cigarettes millions.. 6,925 7,119 6,517 Manufactured tobacco and snuff thous. of Ibs 36, 154 38, 061 30,342 Exports: Unmanufactured leaf. .thous. of lbs_. 50, 694 52, 784 51, 141 Cigarettes millions 488 336 500 Production (crop estimate) • thous. of Ibs.. 1,247,011 1,228,972 1, 264, 226 1, 349, 660 Sales of loose-leaf, warehouses __ thous. of lbs__ 98, 657 91, 682 112, 615 Price, wholesale, Burley good leaf, dark red, Louisville dolls, per 100 lbs__ 25.00 25.00 25.00 25.00 635 601 6,488 5,356 5,442 511 -15.9 -5.9 38, 043 30, 210 28, 571 -29.3 +0.4 384, 104 381, 670 -0.6 56, 821 697 45, 722 839 44, 545 838 1, 242, 456 66, 854 71, 676 -3.1 +2.5 +11.9 -40.4 +8.6 531, 520 402, 023 7,203 -24.4 -26.2 412, 450 507, 809 +23.1 5 12, 427 6 5, 313 23,626 21, 343 8 10, 358 s 4, 913 -9.7 -16.6 -7.5 71, 359 6 20, 824 80, 037 5 22, 378 +12.2 +7.5 83, 090 +14.1 +68.4 24.50 24.50 24.50 0.0 +2.0 2,018 1,057 515 1,962 972 515 2,266 +0.7 +3.1 10, 328 6,619 2,228 1,679 -27.7 +2.3 +27.0 9,754 TRANSPORTATION River and Canal Cargo Traffic Panama Canal: 1,892 Total cargo traffic thous. of long tons. In American vessels, thous. of long tons.. 983 In British vessels thous. of long tons 476 Canals— Sault Ste. Marie__ thous. of short tons.. 10, 904 Suez thous of metric tons 2,087 Mississippi River— Government-owned barges tons. . 46, 070 Ohio River, Pittsburgh, Pa., to Wheeling, W. Va short tons 668, 392 2,009 2,023 11, 637 2,135 8,409 968 626 1,838 2,206 2,407 1,266 524 -3.2 67, 627 47, 000 57, 604 39, 603 54, 229 -30.5 +18.7 795, 274 844, 801 +6.2 739, 635 603, 125 714, 421 795, 527 564, 578 -18.5 -24.2 5, 717, 392 6, 220, 906 +8.9 6,239 2,450 3,789 6,572 5,671 2,451 6,803 2,922 3,881 5,699 2,633 3,066 4,885 2,073 2,812 -13.7 -18.1 -10. 1 -0.5 -6.9 +5.0 63, 938 27, 965 35, 973 64, 916 25, 944 38, 972 +1.5 -7.2 +8.3 26.2 27.7 27.5 28.1 28.1 26.8 -0.7 -2.1 21, 758 17, 191 17,516 12, 210 9,844 3,283 11,414 6,665 12, 650 8,651 15, 167 11, 690 —43. 8 -73.1 -22.2 -62.1 194, 919 119, 159 198, 041 123, 480 +1.6 +3.6 162 170 186 177 184 183 +9.4 +1.2 Ocean Traffic Clearances, vessels in foreign trade: Total.. thous. of net tons.. American. thous. of net tons Foreign thous. of net tons.. Freight rates, liners, Atlantic ports to Europeindex no. (relative to January, 1920) Vessel construction: Completed during month— Total . gross tons Steel seagoing gross tons. _ Building or under contract, end of mo.— Merchant vessels. _thou. of gross tons.. 2,991 3, 581 3,220 13, 096 9,339 Freight Cars Surplus (daily av. last week of month): Box. number.. 58, 203 73, 547 58, 463 1 30, 486 49, 502 Coal . . . . _ number 82, 819 49, 058 43, 658 42, 949 61, 370 1 Total _ number. _ 140, 842 111,619 136, 796 183, 914 99, 190 i Revised. 6 Ten months' cumulatives, Jan. 1 to Oct. 31, 1925, inclusive. 6 Total crop estimated in month indicated. Data for a year ago represents revised final estimate of the 1924 | 117,434 108, 189 266, 252 crop. +18.1 +1.7 +22.6 -20.5 -47.3 -25.6 43 TREND OF BUSINESS MOVEMENTS—Continued Where available December data have been included in this table. The cumulatives shown are in most instances, however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on pages 29 to 151 of the August, 1925, September "Survey" 1925 PER CENT INCREASE (+) OR DECREASE (— ) 1924 December Novem- November, ber, 1925, 1925, Decemfrom from ber Octo- November, ber, 1924 1925 October November 784 785 1,656 166 133 354 27 30 101 -32.0 -59.6 -87.9 -37.3 +50.4 +0.8 5,455 339 206 1,001 353 213 1,290 2,051 3,902 219 159 772 276 72 981 1,423 3,475 187 148 752 252 39 928 1,167 -26.0 -15.9 -34.0 -19.8 -24.7 -46.8 -23.5 —28.7 +4.9 -11.0 -11.9 +3.5 -4.0 +83.3 +5.5 +7.4 165, 818 7.2 190, 543 8.2 189, 140 8.2 1 90, 979 8.3 +0.2 +1.4 -12,3 -12.2 450, 493 86, 464 591, 313 410, 352 137, 700 44, 062 402, 411 81, 095 532,827 384, 514 106, 943 40, 786 439, 042 82, 886 572, 872 404, 038 127, 223 43, 134 1380,992 i 78, 791 1505,889 i 374, 410 193,396 138,067 362, 368 90, 845 505, 253 381, 415 86, 988 34, 998 -10.7 -6.2 -9.9 -6.3 -22.3 -7.4 +5.6 +2.9 +5.3 +2.7 +14. 5 +7.1 7,409 5,190 3,385 6,818 5,841 3,039 6,052 5,492 2,742 6,005 5,076 2,773 5,242 5,244 2,509 5,887 5,470 2,719 -11.2 -5.0 -9.8 +15.5 +4.7 +9.3 10, 643 16.5 10, 233 16.1 10, 725 16.9 11,095 17.2 11, 574 18.0 11, 266 17.5 +4.8 +5.0 -7.3 -6.1 64, 964 2,586 113 220 148 64, 882 2,587 181 263 99 64, 871 2,589 205 304 189 -0.4 -0.2 -25.3 +48. 1 -49.2 104 86 96 78 133 123 142 132 763 628 462 398 397 331 76 37 70 29 October November 364 153 558 153 495 2,957 104 200 357 4, 297 210 131 731 279 230 1,046 1,670 5, 537 232 212 996 352 248 1,353 2,144 4,095 195 140 799 265 132 1,035 1,528 179, 571 7.7 165, 481 7.1 419,643 95, 705 565, 452 388, 096 134, 585 41, 322 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEMBER 30 Per cent increase (+) or decrease (-) 1925 from 1924 1924 1925 45, 056 2,383 1,605 8,300 3,413 1,640 11, 592 16, 123 47, 479 2,096 1, £03 8,733 3,485 1,970 12, 195 17,497 +5.4 -12.0 -6.4 +5.2 +2.1 +20.1 +5.2 +8.5 3,986,819 4, 173, 560 963,916 985, 838 5,482,486 5, 662, 601 4,178,280 4, 193, 605 900,063 1, 041, 990 394, 618 418,393 +4.7 -2.2 +3.3 +0.4 +15.8 +6.0 66, 871 56, 140 31, 369 73, 517 57, 728 32, 657 +9.9 +2.8 +4.1 -1.6 -0.1 -38.1 +49.8 +2.0 1,951 1,844 1,228 1,604 2,626 809 -15.4 +42.4 -34.1 +24.1 -3.7 -26.3 -57.7 1,323 1,188 1,023 727 -22.7 -38.8 431 358 +10.3 +12.8 +38.0 +35.3 64 25 -3.0 -32.1 -54.3 +31.0 295 325 +10.2 —0 2 2, 342, 149 2,342,479 2, 337, 229 -4.9 207, 366 207, 535 207, 172 11, 705 6,763 -15.7 16, 598 11,918 +3.5 10, 504 10, 678 10, 240 +144. 7 12, 610 13, 870 -63*. 2 -6.8 -2.0 141, 156 104, 719 132, 551 121, 374 106, 409 64, 551 -14.0 +1.6 -51.3 70, 162 69, 318 70, 377 66,783 +0.3 -3.7 2, 323 1, 068 -54.0 935 882 734 692 -21.5 -21.5 5 1,529, 285 51,602,024 « 189, 150 s 193, 092 +4.8 +2.1 TRANSPORTATION-Continued Freight Cars— Continued Shortage (daily av. last week of month): Box _ number Coal number Total number Car loadings (monthly totals) : Total thous. of cars._ Grain and grain products thous. of cars._ Livestock thous. of cars__ Coal and coke thous. of cars.. Forest products thous. of cars.. Ore thous of cars Merchandise and 1. c. 1 _thous. of cars.. Miscellaneous thous. of cars Cars in bad order: Total, end of month cars Ratio to total on line per cent.. Railroad Operations Revenue: Freight _ thous. of dolls Passenger thous. of dolls Total operating thous of dolls Operating expenses thous. of dolls Net operating income tbous of dolls Freight carried.. mills, ton-miles Pullman company operations: Revenue . thous. of dolls Expenses thous of dolls Passengers carried thousands Locomotives in bad order: Total, end of month number Per cent of total in use per cent 3,699 206 131 757 258 48 975 1,325 Equipment Installations Locomotives (Am. Ry. Assn.): Owned (end of month) number 64, 142 64, 257 63,869 Tractive power mills of Ibs 2,595 2,596 2,589 Installed during month number 129 150 112 Retired during month _ number . 266 229 394 Ordered from manufacturers number 86 199 101 Shipments by manufacturers: Total number 79 94 98 Domestic. . . number 54 52 50 Unfilled orders, manufacturers': Total number 497 548 363 Domestic number 296 397 448 Building in railroad shops (end of month) number 32 37 33 Exports . number 22 56 38 Freight cars (Am. Ry. Assn.): Owned (end of month) number 2, 363, 637 2, 359, 124 2, 353, 454 Capacity mills, of Ibs 211, 201 210,922 200, 590 Installed during month number 4,299 8,161 ' 5, 097 Retired during month number. 9,948 9,196 ' 9, 616 Ordered from manufacturers number 5,556 6,113 13, 598 Shipments by manufacturers (I. C. C.): 2,849 Total number 5,405 2,492 Domestic number 5,319 Unfilled orders by manufacturers (I. C. C.) : 16, 354 Total number 12, 148 11,412 Domestic number 15, 869 Building in railroad shops 7,189 6,246 Passenger cars: Ordered from manufacturers number. _ 134 87 37 Shipments by manufacturers (I. C. C.): 66 67 jTotal number 66 Domestic number 58 Unfilled orders (I. C. C.): 569 612 Total number Dompstic number 550 593 +0 5 8,839 8,449 6,382 5,938 5,661 5,365 38, 391 36, 560 45, 369 43, 937 46, 508 45, 325 3,574 5,159 6,478 244 279 235 96 90 99 98 79 79 486 479 502 496 512 507 47, 571 2,585 37, 142 1,953 \ 28, 399 927 27, 402 31, 474 29, 345 22, 297 28, 098 17, 219 -7.1 -34.7 -9.2 +3.7 326, 672 304, 846 269, 636 348, 578 -17.5 +14.3 8,941 19, 951 7,906 8,6 5 14, 741 7,894 14, 288 17, 388 7,575 -14.6 -25.5 -2.9 -23.8 +22.4 -1.5 75, 833 284, 260 138, 803 72, 849 323, 560 163, 927 -3.1 +13.8 +19.8 —35.1 -68.8 Passenger Travel National parks: 184, 279 36, 524 Visitors number 2,462 Automobiles entered number 17, 361 Arrivals from abroad: 26, 721 28, 685 Aliens number 68, 500 35, 413 United States citizens number Departures abroad: 7,674 7,200 Aliens number 24, 227 United States citizens number. _ 24, 369 8.012 8,795 PassDorts issued _ _ number.. Ten months' cumulatives, Jan. 1 to Oct. 31, 1925, inclusive. 26, 642 23, 118 6, 555 18, 039 7,776 8,172 44 TREND OF BUSINESS MOVEMENTS—Continued Where available December data have been included in this table. The cumulatives shown are in most instances, however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on pages 29 to 151 of the August, 1925, "Survey" September PER CENT INCREASE (+) OR DECREASE (— ) 1924 1935 October November December 57, 925 15, 034 50, 931 12, 748 50, 061 12, 099 11, 678 14, 408 2,342 128, 800 9, 940 12, 389 1, 993 111, 200 8,776 10, 053 1,478 120, 200 October November December Novem- November, ber, 1925, 1925, from from Octo- November, ber, 1924 1925 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEMBER 30 Per cent increase (+) or decrease 1924 1925 52, 145 12, 131 5 478, 743 s 102, 427 56 536, 003 127, 839 +12. 0 +24. 8- 9,999 12, 285 1,811 131,7 0 s 90, 243 6 112, 177 * 15, 292 5 1,103, 730 5 102, 033 5 125, 414 5 18, 237 1,183,776 +13.1 +11.8+19.3 +7.3. 1925 from 1924 PUBLIC UTILITIES Telephone companies: 54, 955 Operating revenues thous of dolls Operating income thous. of dolls 13, 373 Telegraph companies: Commercial telegraph tolls.thous. of dolls. _ 11, 306 Operating revenue thous. of dolls 13, 784 2,211 Operating income thous. of dolls Gross revenue sales _ thous. of dolls. . 117,200 Electric railways (213 companies) : 750, 236 Passengers carried „ thous. of personsElectric power: Production — Total mills of kw. hours i 5, 490 By water power _. .mills, of kw. hours. _ 1 1,607 By fuels.. mills, of kw. hours. . 3, 883 In street rys. mgf. plants, etc mills, of kw. hours.. 365 Central stations mills, of kw. hours. . i 5, 125 811, 295 779, 672 791, 485 756, 802 i 5, 936 i 1, 797 i 4, 139 5,772 1,928 3,845 5, 193 1, 632 3, 560 5,065 1, 559 3,492 398 i 5, 534 395 5,378 370 4, 823 510 267 92 92 78 123.3 98.6 92.2 513 264 93 92 78 122.6 99.3 93.1 14, 559 297.6 95 90 82 -3.9 +3.0 8, 624, 159 8, 577, 295 -0. 5 5,537 1,749 3,788 -2.8 +14.0 +7.3 +23.7 -7.1 +15.7 53, 504 18, 272 35, 219 59,469 20, 338 39, 132 +11. 1 373 4,692 435 5,102 -0.8 +5.9 -2.8 +14.6 495 195 88 87 76 114.8 96.1 90.4 495 197 88 87 78 116.2 95.7 90.8 499 95 89 89 79 116.4 97.6 91.3 +0.6 +3.6 -1.0 +34.0 +1.1 +5.7 0.0 +5.7 0.0 0.0 -0.6 +5.5 +0.6 +3.8 +2.5 +1.0 14,700 288.1 96 96 84 13, 632 262.2 86 83 80 13, 700 263.2 88 83 78 14, 101 267.1 90 90 89 +7.3 +1.0 -3.2 +9.5 +1.1 +9.1 +6.7 +15.7 +2.4 +7.7 62, 039 61, 753 64, 794 64,740 66, 079 -0.5 -4.6 28.57 115.3 241.0 189.9 103 101 102 28.67 115.2 234.7 187.8 103 99 104 27.53 112.0 227.8 208.9 99 97 103 27.66 111.8 226.2 188.0 101 97 97 28.26 114.8 229.1 190.1 101 103 110 +0.4 -0.1 -2.6 -1.1 0.0 -2.0 +2.0 +3.7 +3.0 +3.8 -0.5 +2.0 +2.1 +7.2 27.12 29.51 31.20 23.66 17.13 26.45 28.44 30.21 22.60 17.36 26.41 28.37 30.84 22.84 17.21 26. 85 28.90 30.65 23.08 17.18 50.0 48.3 49.6 47.1 49.7 47.1 49.8 47.1 47 41 30 24 27 40 38 38 42 53 38 46 41 28 25 28 41 37 37 41 52 38 47 43 27 23 27 39 37 37 41 52 37 40 40 40 0.0 0.0 1.29 1.12 1.65 1.22 .59 1.41 1.22 1.74 1.27 .71 1.52 1.31 1.95 1.38 .66 -11.8 +5.3 +3.5 +28.0 +11.9 -9.9 -2.5 -14.4 -6.3 -7.0 EMPLOYMENT AND WAGES Employment in factories: New York State thousands 500 Detroit .. ._ thousands 258 New Jersey (rel. to 1923) . . .index number _. 91 Pennsylvania (rel. to 1923)..index number-90 Delaware (rel. to 1923) index number.. 79 123.9 Wisconsin {rel to 1915) index number Illinois (rel to 1922) index number 97.8 Massachusetts (rel. to 1914) .index number. . 89.9 Total payroll: New York State thous of dolls 14, 150 Wisconsin (rel. to 1915) index number.. 286.7 New Jersey (rel. to 1923) -_ .index number.. 89 Pennsylvania (rel. to 1923) .index number. _ 83 78 Delaware (rel. to 1923) index number. _ Federal civilian employees, Wash62,519 ington D C number Average weekly earnings (State reports) : 28.32 New York State dolls 107.6 Illinois (rel. to 1922) index number.. Wisconsin (rel to 1915) index number 231.1 Massachusetts (rel. to 1914) .index number.. 186.5 New Jersey (rel. to 1923) .. .index number. _ 98 Pennsylvania (rel. to 1923) .index number.. 95 Delaware (rel. to 1923) index number 96 Average weekly earnings (National Industrial Conference Board): Grand total (both sexes) dollars 26.94 Total male dollars 29.27 Skilled male dollars 30.89 Unskilled male dollars 23.48 Total women dollars 17.00 Average weekly hours: Nominal (both sexes) hours 50.0 Actual (both sexes) hours 48.3 Wages of common labor by geographic divisions: 46 New England cents per hour 44 IVIiddle Atlantic cents per hour South Atlantic cents per hour 30 25 East South Central cents per hour 26 West South Central cents per hour 38 East North Central cents per hour 38 "West North Central cents per hour West North Central cents per hour 38 Mountain cents per hour 45 Pacific cents per hour 53 TJnited States average cents per hour 38 Wage rates, U. S. Steel Corporation cents per hour 40 Employment agency operations: Applicants per job — United States average number.. 1.05 Eastern States number .87 Central States number 1.37 .89 Southern States number Western States number _ . .59 i Revised. 5 46 46 25 25 28 36 37 37 46 53 38 46 45 27 25 29 36 37 37 46 52 38 40 40 1.44 1.13 1.44 .93 .59 1.27 1.19 1.49 1.19 .66 129 40 0.0 0.0 -2.2 +9.8 +8.0 -3.6 0.0 -0.0 +3.6 +3.6 0.0 -12.2 0.0 0.0 0.0 0.0 0.0 +12.2 -1.9 0.0 0.0 0.0 +11. a. +11.1 45 TREND OF BUSINESS MOVEMENTS—Continued 1935 Where available December data have been included in this table. The cumulatives shown are in most instances, however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on October pages 29 to 151 of the August, 1925, September "Survey" PER CENT INCREASE (+) OR DECREASE (— ) 1924 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEMBER 30 Novem- NovemNovember December October November December ber, 1925, ber, 1925, ber, 1925 ber, 1924 from from Octo- Novem- 1934 1935 Per cent increase ( } or tdecrease (-) 1925 from 1924 DISTRIBUTION MOVEMENT Mail-order houses: Total sales -thous. of dolls.. 34, 836 Sears, Roebuck & Co thous. of dolls.. 19, 359 Montgomery Ward & Co.. thous. of dolls.. 15,477 Ten-cent stores: Total sales -thous. of dolls.. 32, 075 Total stores _ _ . .number. . 2,041 F. W. Woolworth & Co thous. of dolls.. 18, 129 Number of stores operated 1,415 S. S. Kresge Co thous. of dolls.. 8,222 Number of stores operated 287 McCrory Stores Corp. thous. of dolls.. 2,284 Number of stores operated 175 S. H. Kress & Co thous. of dolls.. 3,440 Number of stores operated 164 Restaurant chains: Total sales _ -thous. of dolls .. 3,227 Total stores number.. 222 Childs Co., sales ..thous. of dolls.. 2,151 Waldorf System (Inc.), sales thous. of dolls.. 1,076 Chain stores: J. C. Penney Co thous. of dolls.. 8,298 Number of stores 645 United Cigar Stores Co thous. of dolls.. 6,326 Number of stores 2,840 A. Schulte (Inc.) thous. of dolls.. 2, 050 Number of stores 267 Owl Drug Co thous. of dolls . 1,330 Number of stores 87 Magazine advertising thous. of lines . 1,979 Newspaper advertising thous. of lines 99,427 National advertising in newspapers :h Total thous. of lines.. 24,668 Automobile advertising thous. of lines.. 5,246 Automobile accessories thous. of lines.. 1,488 Cigars, cigarettes, and tobacco thous. of lines.. 892 Financial. thous. of lines.. 903 Food, groceries, beverages. .thous, of lines.. 2,922 Hotels and resorts thous. of lines.. 221 Household furniture thous. of lines.. 1,037 Men's clothing thous. of lines.. 393 Musical instruments thous. of dolls.. 69 Radio and electrical thous. of lines. _ 744 Railroads and steamships thous. of lines . 1,475 Shoes. . _ thous. of lines. . 244 Toilet articles and medical preparations thous. of lines.. 3,844 Women's wear thous. of lines .. 236 Miscellaneous thous. of lines.. 4,697 Postal receipts, 50 selected cities.. thous. of dolls.. 28, 551 Postal receipts, 50 industrial cities thous. of dolls.. 3,002 Money orders: Domestic paid (50 cities)— Quantity __ ...number 9,716 Value _ thous. of dolls 79, 336 Domestic issued (50 cities) — Quantity .number.. 2,801 Value thous. of dolls.. 29,456 Delinquent accounts, electrical trade: Amount dollars 167, 076 Number of firms _. .number 1,400 Hardware trade: Sales index _ _ 145 Outstanding accounts (number of times sales) _. 2.0 Internal revenue-taxes collected: Firearms and shells thous. of dolls.. 358 Jewelry, watches, and clocks thous. of dolls 550 Theater admissions thous of dolls 1,812 Bonds and stocks issued and conveyances thous of dolls 2,394 Capital stock transfers . thous. of dolls 1,278 52, 340 30, 375 21, 965 44, 618 25, 824 18, 794 53, 311 30, 522 22, 789 41, 063 23, 801 17, 262 39, 541 22, 488 17, 053 46, 316 26, 171 20, 145 -14.8 -15.0 -14.4 +12.8 +14.8 +10.2 338, 574 196, 004 142, 570 389, 129 227, 821 161, 308 +14.9 +16.2 +13.1 39, 759 36, 882 71, 258 34, 055 1,929 +12.7 199, 687 +10.7 17, 984 7,873 75, 505 87, 982 +16.5 2,669 5,337 +10.8 +6.3 +6.8 +4.5 +14.2 +18.6 +18.9 +4.6 180,464 9,425 -7.2 +0.4 -10.1 +0.4 -5.7 0.0 -2.3 +1.7 +1.6 +0.6 349, 232 39, 330 20,400 33, 292 1,956 20, 677 1,425 33, 292 1,943 19, 369 1,364 309, 861 22, 989 1,420 20, 936 24, 208 +15.6 +20.0 32, 956 37, 355 +13.3 +6.8 +2.7 +10.5 33, 190 33, 727 +1.6 21, 281 22, 064 +3.7 +0.3 11,909 11, 663 -2.1 +6.1 -18.9 +3.7 +17.4 -3.4 -10.0 +2.0 +14.9 -9.9 +6.8 +0.4 +6.0 -13.7 -2.9 0.0 +3.6 +3.5 +13.9 -2.1 +13.6 64,289 78, 264 +21.7 66, 298 66, 088 19, 967 21, 708 2,057 9,992 293 2,732 179 4,046 165 3,403 2,066 293 182 4,111 166 2,246 3,184 225 2,107 1,157 1,077 12, 142 644 6,661 9,850 223 2,888 2,257 266 1,451 87 2,421 119, 754 668 5,992 2,946 2,034 1,351 247 2,103 172 8,252 247 2,244 174 35,021 1,364 14, 592 256 4,260 176 8,607 3,679 159 158 2,275 3,176 219 2,081 2,981 219 1,907 3,181 219 2,057 —6 4 +0.9 -6.2 1,095 1,074 1,124 -6.9 8,431 567 9,286 9,947 1,949 253 1,588 84 2,213 108, 840 1,901 252 1,289 84 2,201 103, 239 12,606 676 267 1,252 87 2,506 117, 231 6,502 2,548 3,427 569 6,205 2,563 7,302 161 569 8,490 2,572 2,742 255 1,906 84 2,121 102, 667 29, 201 1,041 —24.3 1,838 1,023 2,199 906 4,183 396 591 375 353 1,004 1,532 256 +19.6 -11.4 —9.2 +36.1 291 1,153 578 232 1,121 1,467 294 15, 520 14, 965 -3.6 22, 290 1, 054, 695 22, 871 1, 102, 564 +2.6 +4.5 -6.9 -10.6 31, 359 5,616 1,376 4,606 +5.1 5,023 —48.7 -35.1 +52.2 -10.4 44 —12 9 6,303 6,584 5,038 4,525 32, 489 29, 962 38, 656 29, 119 26,471 34, 149 -7.8 +13.2 281, 876 307, 319 +9.0 3,352 2,970 4,126 3,145 2,627 3,613 -11.4 +13.1 30, 091 32, 690 +8.6 12,008 10, 916 88, 548 95, 784 12,000 11, 294 88, 962 13, 558 100, 098 -9.1 -10.8 -3.3 -0.5 116, 003 914, 086 120, 716 874, 019 +4.1 -4.4 3,052 2,941 29, 802 3,573 34,002 -2.8 -3.1 +4.2 +7.4 32, 197 323, 965 33, 719 337, 874 +4.7 +4.3 167, 286 1,509 139,715 119,777 422 99, 240 3,154 33,041 +4.5 —45.0 232 3,065 32, 016 184, 056 1,597 —10 2 30, 763 1,157 1,258 160 138 150 134 140 -13.7 +3.0 1.8 2.0 1.9 2.1 1.9 +11.1 -4.8 329 506 434 425 290 +53.8 +19.0 2,988 3,315 +10.9 556 2,148 597 1,920 593 2,021 484 729 +23.3 7,717 22, 088 -55.6 -60.8 2,928 2,615 1,949 2,098 1,318 685 2,076 2,554 +7.4 -10.6 -7.5 17, 399 56, 281 1,976 660 2,083 -10.7 +32.3 +47.9 +195. 3 33, 267 8,060 28, 598 14, 678 -14.0 +82.1 2, 153, 920 1,430 BANKING AND FINANCE Life Insurance (Association of Life Insurance Presidents') Policies, new (45 companies): Ordinary _ number of policies. . 187, 944 224, 370 219, 593 272, 239 181, 569 Industrial . number of policies 691, 227 1, 199, 183 851, 209 824, 881 830, 831 Group., _ number of contracts 114 172 107 485 87 Total number of policies and contracts.. 879, 278 1, 423, 667 1,070,974 1, 097, 605 1, 012, 487 Policies and certificates issued: Total policies and certificates number.. 899, 216 1, 461, 675 1, 097, 292 1, 272, 811 1, 083, 205 Group insurance certificates.. .certificates.. 20,045 26, 490 38, 122 175, 691 70, 805 h See table on p. 19 of the December, 1925, issued for earlier data. 216, 103 230, 278 641, 128 903,065 132 472 857, 363 1, 133, 815 -29.0 +32.8 7, 542, 160 8, 827, 675 1,499 1,113 +50.9 +30.3 -24.8 +24.9 9,697,193 11, 146, 763 -2.1 +1.6 2, 317, 588 +7.6 +17.0 +34.7 +14.9 833, 002 1, 242, 423 25, 771 109, 080 -24.9 -30.5 +31.7 +2.8 9,944,803 11, 519, 577 +15.8 +49.3 248, 723 371, 314 46' TREND OF BUSINESS MOVEMENTS—Continued Where available December data have been included in this table. The cumulatives shown are in most instances, however, only through . November and, where designated by a footnote, through October. Earlier data for items shown here may be found on pages 29 to 151 of the August, 1925, September "Survey" 1925 October Novem- December ber October 538, 166 175, 114 37,800 751, 080 630, 262 256, 704 54, 446 941, 412 735, 325 596, 833 223, 883 207, 980 314, 396 111,087 915, 900 1, 273, 604 501, 459 198, 461 131, 134 831, 054 107, 367 37, 057 3,124 147, 548 130, 045 38,951 4,841 173, 837 130, 920 39, 074 4,940 174, 934 9,121 9,209 3,707 1,513 2,195 3,750 1,515 2,235 3,694 1,041 2,001 547 106 3,713 1,035 2,005 567 106 1,092 628 Sales of ordinary life insurance (81 companies) : United States total thous. of dolls . 601, 772 Eastern manuf. district thous. of dolls.. 230, 427 Western manuf. district thous. of dolls.. 127, 582 Western agric. district thous. of dolls.. 98, 954 Southern district -thous. of dolls.. 80, 030 Far Western district thous. of dolls.. 64, 779 1924 PER CENT INCREASE (+) OR DECREASE (— ) November Novem- November, ber, 1925, 1925, from from Octo- November, ber, 1924 1925 December CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEMBER 30 Per cent increase ( } or tdecrease (-) 1925 from 1924 1924 1925 524, 384 676, 188 5 3 +13.8 150, 718 225, 892 -19.0 +38.0 38, 624 184, 130 +104. 0 +187. 6 713, 726 1, 086, 210 -2.7 +28.3 5, 871, 409 1, 737, 662 413, 797 8, 022, 864 6, 833, 014 2, 135, 291 684, 857 9, 653, 164 +20. a 109, 188 33, 405 3,025 145, 617 103, 731 32, 190 2,593 138, 515 141, 633 59, 616 4,186 205, 434 1, 181, 812 350, 517 27, 233 1, 559, 562 1, 343, 573 404, 407 48, 404 1, 796, 382 +13.7 +15.4 +77.7 +15.2 9,292 8,297 8,359 3,796 1,518 2,278 3,263 1,439 1,824 3,298 1,444 1,853 3,751 1,048 2,015 580 108 3,469 1,085 1,899 388 98 1,099 647 1,103 642 668, 794 258, 615 148, 401 107, 380 86, 527 67, 871 637, 023 252, 514 136, 517 99, 155 81, 492 67, 345 28, 916 24, 008 27, 009 21, 334 25, 952 20, 299 23, 477 18, 355 590 1,695 660 2,893 2,297 72.5 BANKING AND FINANCE— Continued Life Insurance— Continued Amount of new insurance (45 companies): Ordinary. . thous. of dolls. Industrial thous. of dolls Group thous. of dolls.. Total insurance thous. of dolls.. Premium collections (45 companies) : Ordinary thous. of dolls Industrial thous, of dolls.. Group thous. of dolls Total thous. of dolls-. Admitted life insurance assets (41 companies) : Grand total mills, of dolls. . Mortgage loans— Total ...mills, of dolls.. Farm mills, of dolls.. All other .mills, of dolls.. Bonds and stocks (book values) — Total mills, of dolls.. Government mills, of dolls.. Railroad mills, of dolls.. Public utilities.— mills, of dolls.. All other mills, of dolls.. Policy loans and premium notes mills, of dolls.. Other admitted assets mills, of dolls.. + 16- 4r +22.9 +65.5 +0.7 +0.3 +2.0 +0.6 +26.2 +21.4 +90.5 +26.3 8,476 +0.9 +11.2 3,338 1,452 1,886 +1.2 +0.2 +1.9 +15.1 +5.1 +22.9 3,496 1,085 1,909 405 98 3,534 1,086 1,915 430 102 +1.0 +1.3 +0.5 +2.3 +1.9 +7.3 -3.4 +5.6 +43.2 +10.2 1,017 548 1,018 547 1,020 585 +0.4 -0.8 +8.3 +17.4 572, 184 224, 325 124, 841 93, 489 69, 226 60, 303 545, 152 218, 834 115, 577 88, 871 65, 490 56, 380 744,111 281, 134 165, 469 120, 784 98, 928 77, 796 -4.8 -2.4 -8.0 -7.7 -5.8 -0.8 +16.9 +15. 4 +18.1 +11.6 +24.4 +19.4 6, 274, 344 2, 521, 870 1, 362, 383 971, 314 776, 518 642, 259 7, 250, 153 2, 923, 078 1, 549, 311 1, 145, 812 899, 338 734, 615 +15.6 +15.9 +13.7 +18.0 +15.8 +14.4 22, 506 20, 912 23, 047 18, 846 27, 327 21, 830 -6.6 -11.1 +17.2 +13.2 236, 204 206, 121 283, 059 232, 357 +19.8 +12.7 26, 059 20, 013 21, 585 18, 122 22, 433 16, 743 25, 626 18, 445 -9.5 -9.6 +4.7 +9.6 224, 244 177, 721 256, 660 197, 121 +14.5 +10.9 625 1,732 701 2,861 2,291 71.1 750 1,835 751 2,822 2,357 67.3 223 1,767 802 3,132 2, 218 78.6 222 1,845 866 3,134 2,203 77.4 314 1,862 935 3,047 2,311 73.0 13, 901 5,443 13, 082 13, 959 5,405 13, 025 14, 235 5,462 13, 261 12, 764 5,551 12,^922 12, 870 5,617 13, 065 13, 068 5,531 13, 254 +0.4 -0.7 -0.4 +8.5 -3.8 -0.3 4.90 4.40 4.75 4.38 5.45 4.38 2.45 3.13 2.60 3.25 3.38 3.56 -3.1 -0.5 +82.7 +34.8 7, 613, 545 1, 332, 605 2, 108, 618 523, 094 521, 262 353, 016 258, 465 947, 951 158, 315 99, 915 113, 151 75, 531 1, 121, 622 132, 398 7, 651, 384 1,335,978 2, 113, 380 523, 646 526, 885 356, 396 263, 469 955, 175 159, 357 100, 121 113, 351 76, 675 1, 126, 951 132, 711 7, 151, 529 1, 268, 465 2, 001, 536 492, 285 489, 511 325, 899 228, 510 910, 932 141, 026 92, 444 106, 979 67, 849 1, 026, 093 134, 405 7, 194, 415 1, 271, 490 2, 006, 184 494, 478 499, 463 324, 495 230, 308 917, 748 157, 231 92, 787 105, 620 67, 523 1, 027, 088 134, 235 7, 334, 289 1, 282, 074 2, 056, 333 513, 283 506, 689 327, 880 234, 515 932, 953 156, 548 94, 674 106,498 67, 490 1, 055, 712 133, 346 +0.5 +0.3 +0.2 +0.1 +1.1 +1.0 +1.9 +0.8 +0.7 +1.3 +0.2 +1.5 +0.5 +0.2 +6.4 +5.1 +5.3 +5.9 +5.5 +9.8 +14.4 +4.1 +1.4 +7.9 +7.3 +13.6 +9.7 -1.1 3, 308, 534 3, 318, 009 3,388,832 +0.1 +6.5 (Life Insurance Sales Research Bureau) 804, 684 296, 151 173, 510 133, 997 116, 231 84, 795 Banking Debits to individual accounts: New York City .mills, of dolls . 24, 369 20, 872 Outside New York City mills, of dolls Bank clearings: New York City mills, of dolls.. 21, 774 Outside New York City.— mills, of dolls.. 18, 021 Federal reserve banks: 633 Bills discounted .mills, of dolls. . Notes in circulation mills, of dolls.. 1,685 624 Total investments mills, of dolls.. 2,866 Total reserve mills, of dolls . Total deposits mills of dolls 2,268 72.5 Reserve ratio per cent-Federal reserve member banks: Total loans and discounts... mills, of dolls. _ 13, 832 Total investments mills of dolls 5,440 Net demand deposits. . .mills, of dolls.. 13, 046 Interest rates: New York call loans per cent 4.56 Commercial paper 4-6 mos per cent 4.19 Savings deposits, by Federal reserve districts (balance to credit of depositors) : Total, 846 banks thous of dolls 7, 604, 962 Boston, 64 banks thous. of dolls.. 1, 329, 853 New York, 30 banks-. -thous. of dolls.. 2, 114, 729 Philadelphia, 78 banks.thous. of dolls.. 522, 453 521, 120 Cleveland, 18 banks thous of dolls Richmond, 91 banks thous. of dolls.. 348, 699 Atlanta, 96 banks thous. of dolls. . 253, 104 Chicago, 209 banks thous. of dolls.. 940, 952 St. Louis, 32 banks thous. of dolls.. 159, 071 Minneapolis, 15 banks.thous. of dolls.. 99, 939 Kansas City, 56 banks.thous. of dolls. . 113, 957 75, 078 Dallas, 85 banks thous of dolls San Francisco, 72 banks.thous. of dolls. .1, 126, 007 U. S. Postal Savings thous of dolls 132, 159 New York State Savings banks thous of dolls 3, 487, 629 3, 529, 169 3 533 841 +5.9 +181. 5 +2.2 -6.1 +6.2 -19.1 -8.7 -1.1 +4.0 -0.3 -8.1 -1.9 Public Finance Government debt: Interest-bearing _ .. Total gross debt Short-term debt ._ . Customs receipts Total ordinary receipts Expenditures chargeable to ordinary receipts Money in circulation: Total Per capita .mills, of dolls mills, of dolls. _ ..mills, of dolls thous. of dolls.. thous. of dolls 20, 143 20, 418 6,186 51, 017 512, 072 20, 141 20, 407 6,184 52, 835 202, 245 20, 139 20, 401 6,182 48, 276 184,931 19, 983 20, 248 6,033 46, 223 602, 575 20, 978 21, 242 8,069 49, 890 255, 323 20, 951 21,213 8,041 40,011 174, 738 20,712 20,979 7,046 40, 129 570, 792 0.0 0.0 0.0 -8.6 -8.6 -3.9 -3.8 -23.1 +20.7 +5.8 505, 104 3, 341, 595 524, 604 3, 224, 545 +3.9 -3.5 thous. of dolls.. 330, 851 323, 432 236,034 433,968 320,307 233, 758 345, 879 -27.0 +1.0 2,999,114 3, 166, 134 +5.6 4,901 42.77 4,972 43.35 5,008 43.62 4,880 43.12 4,994 44.08 4,993 44.03 +1.4 +1.4 mills, of dolls dollars.. 4,827 42.17 -0.4 -1.7 47 TREND OF BUSINESS MOVEMENTS—Continued Where available December data have been included in this table. The cumulatives shown are in most instances, however, only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on pages 29 to 151 of the August, 1925, SeptemOctober ber *'Survey" PER CENT INCREASE (+) OR DECREASE (— ) 1934 1925 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEMBER 30 ( -y Novem- NovemNovember December October November December ber, 1925, or de- ber, 1925, from from Octo- November, 1925 ber, 1924 Per cent increase crease 1934 1925 (-) 1925 from 1924 BANKING AND PINANCE-Continued Business Failures Liabilities: Total commercial thous. of dolls Manufacturing establishments thous. of dolls Trade establishments thous. of dolls _. Agents and brokers thous. of dolls, . Firms: Total commercial number,. Manufacturing establishments number.. Trade establishments number.. Agents and brokers number. 30, 687 29, 544 35, 922 36, 528 36, 099 31, 124 45, 279 +21.6 +15.4 497,946 407, 216 -18.2 8,167 14, 990 H,264 13, 530 13, 994 18, 907 12, 931 20, 635 15, 619 16, 122 10, 252 15, 782 15,753 -1-24.2 +36.5 +39.7 +19.8 270,416 154, 754 194, 734 57, 729 -42.8 +10.6 +13.5 1,465 388 1,015 62 1,581 408 1,111 62 1,672 442 1,146 84 1,878 490 1,307 81 1,696 411 1,186 99 1,653 361 1,193 99 2,040 475 1,464 101 Grand total thous. of dolls,. 427, 220 Dividend payments: Total thous. of dolls.. 102, 920 Indus, and misc. corp thous. of dolls.. 66, 365 Steam railroads _ _ ..thous. of dolls.. 25, 905 Street railways ..thous. of dolls.. 10, 650 309, 395 322, 323 509, 250 288, 300 301, 150 73, 595 32, 350 33, 950 7,295 74, 970 54, 575 15, 180 5,215 166, 500 67, 995 28, 775 18, 015 67, 300 29, 500 32, 200 6,100 71, 150 52, 400 14, 350 294, 309 16, 379 300, 994 70, 310 365, 565 10, 675 74, 634 236, 053 120,932 250, 373 149, 938 226, 302 234, 096 278, 096 251, 381 121, 458 86, 124 93, 465 585, 422 65,115 7,530 -36.4 -40.6 176, 050 50, 878 +5.8 +8.3 +3.2 +22.4 +1.1 18. 575 19, 336 +35.5 -3.9 -15.2 12, 799 913 13, 854 882 +4.1 -2.8 +8.2 -3.4 458, 625 +4.2 +7.0 3, 840, 590 4,073,778 +6.1 +1.9 4,400 158, 125 64, 609 27, 150 16, 800 -55.3 -28.5 +5.4 +4.2 +5.8 +18.5 1, 012, 689 566, 170 301, 195 83,090 1, 066, 505 592, 995 317, 115 93, 350 +5.3 +4.7 +5.3 +12.3 361, 898 56, 549 235, 256 8,112 227, 259 56, 727 +21.5 -84.8 +31.6 +55.4 3, 008, 303 457, 098 3, 650, 822 593, 927 +21.4 78, 257 340, 190 56,480 186,888 89, 185 283, 985 +24.0 +165. 5 -9.6 +21.1 777, 201 2, 688, 301 1, 149, 053 3, 095, 698 +15.2 384, 032 197, 464 310, 014 -9.6 +27.3 2, 909, 132 3, 268, 034 +12.3 11, 115 96, 076 126, 375 543, 490 73, 600 36, 983 574, 096 120, 244 -24.4 -11.5 130, 971 -88.1 -69.9 734, 854 +112. 1 +116.3 526, 042 999, 415. 534, 134 912, 568 435, 829 919, 188 440, 046 927, 568 446, 429 +0.4 +1.5 +8.7 +21.4 73, 097 22, 275 77, 300 19, 843 60, 809 60, 672 64, 300 45, 648 62, 267 40, 205 +5.7 -10.9 +20.2 117. 29 124. 11 134. 29 79.15 4,750 3,022 2,962 4,357 5,090 27, 141 2,385 4,733 4,600 Dividend and Interest Payments (For the following month) +68.7 New Security Issues Total corporation (Commercial and Financial Chronicle) : Purpose of issueNew capital thous. of dolls Refunding thous. of dolls.. Kind of issueStocks thous of dolls Bonds and notes thous. of dolls.. Total corporation (Journal of Commerce) thous. of dolls.. States and municipalities: Permanent loans thous. of dolls.. Temporary loans .thous. of dolls New incorporations thous. of dolls 76,118 572, 75J 373, 977 1,241,594 1,020,548 1,326,445 1, 234, 157 848,] 10 6, 419, 866 +29.9 +47.8 -7.0 -18.0 695, 618 8, 960, 655 +39.6 Agricultural Finance Loans outstanding, end mo.: Federal farm loan banks ... thous. of dolls.. 989, 960 Joint-stock land banks thous. of dolls.. 519, 237 Federal intermediate credit banks thous. of dolls 64, 318 War finance corporation thous. of dolls.. 24, 688 995,207 -56.5 Stocks and Bonds Stock prices, daily closing: 25 industrials, average dolls, per share.. 162. 83 174. 49 25 railroads, average dolls, per share. _ 85.40 84.73 103 stocks, average dolls, per share.. 115. 71 121. 39 Stock sales: N Y Stock Exchange thous. of shares 36, 886 53, 423 Bond sales: Miscellaneous .thous. of dolls 242, 657 258, 979 Liberty- Victory _ thous. of dolls.. 21, 066 21, 528 Total thous. of dolls 280, 507 263, 723 Bond prices: Highest-grade rails.p. ct. of par, 4% bond.. 86.54 86. 06 Second-grade rails.. p. ct. of par, 4% bond.. 76.91 76.78 Public utility p. ct. of par, 4% bond.. 70.52 70.95 Industrial p. ct. of par, 4% bond-74.92 75.17 Comb, price index.. p. ct. of par, 4% bond.. 76.92 76.73 9 5 Liberty bonds p. ct. of par.. 101. 40 101. 92 16 foreign governments and city 9 p. ct. of par.. 104. 00 102. 75 Comb, price index,9 66 bonds fl.p. ct. of par.. 97. 55 97.46 Municipal bond yield per cent.. 4.21 4.26 Long-term real estate bonds issued :i Grand total thous. of dolls. 51, 808 90, 839 Purpose of issueFinance construction thous. of dolls16, 350 39, 880 Real estate mortgage thous. of dolls.. 13, 330 31, 753 Acquisitions and improvements thous. of dolls. 11, 640 13, 068 All other thous. of dolls.. 9,060 7,566 Kind of structureOffice and other commercial.. _ thous. of dolls.. 11, 270 37, 515 Hotels thous. of dolls__ 8,393 8,755 Apartments thous. of dolls 7,025 5, 130 All other _ thous. of dolls.. 24, 758 39, 801 J See table on p. 25 of the September, 1925, issue for earlier data. » For 1st of following month. 174. 39 88.13 120. 05 177. 74 48, 981 42, 876 92.45 69.63 90.25 76.00 97.77 99.65 -0.1 +40.5 +3.2 +16.0 -1.1 +22.8 18, 126 41, 369 42, 876 -8.3 +18.4 238, 920 408, 123 +70.8 218, 999 23, Oil 242, 010 247, 972 45, 164 293, 136 336, 431 52, 987 389, 418 313, 044 79, 448 392, 492 -15.4 +6.9 -13.7 -34.9 -56.6 -37.9 2, 604, 697 786, 686 3, 391, 383 2, 848, 512 317, 128 3, 166, 640 +9.4 -59.7 -6.6 86.22 77.73 70.65 75.46 86.67 74.36 86.43 75.03 70.45 74.06 76.06 85.45 74.65 +0.2 +1.2 +0.2 +0.4 +0.5 +0.1 -0.2 +3.6 +0.3 +1.9 +1.4 -0.1 -1.3 +0.1 -0.9 -2.0 +0.7 +2.2 77.12 102. 02 101. 41 97.53 4.22 70.10 73.75 75.74 70. 56 73.94 75.77 102. 98 102. 10 101. 98 103. 67 97.13 4.11 103. 50 102. 39 4.13 4.16 96.86 96.55 65, 647 30,549 38, 257 46, 557 -27.7 +71.6 272, 697 637, 748 +133. 9 45, 240 20, 614 24, 622 10, 735 27, 265 1,301 +13.4 -69.7 +83.7 -10.4 200, 514 50, 630 365, 737 +82.4 143, 548 +183. 5 10, 375 412 4,590 1,000 1,900 2,510 -10.9 -94.6 -78.3 10, 168 11, 385 77,393 +661. 1 51,026 +348. 2 27, 090 12, 795 10, 165 15. 597 20, 570 3,215 3,124 17, 320 19, 905 -27.8 +56.4 +52. 4 +15.1 +98.1 -t -83. 6 -60.8 +264.0 126, 662 55, 273 56, 717 9,620 4,200 1,145 3.640 11,115 5,537 4.285 3,775 4,290 10, 085 12. 277 34.045 +92.4 +92.0 84,392 +48.8 203.468 4-497. fi 243, 749 106, 141 48 TREND OF BUSINESS MOVEMENTS—Continued 1935 Where available December data have been included in this table. The cumulatives shown are in most instances, howeverf only through November and, where designated by a footnote, through October. Earlier data for items shown here may be found on Septem- October November pages 29 to 151 of the August, 1925, ber ''Survey" GOLD AND SILVER Gold: Domestic receipts at mint fine ounces .. Rand output thous. of ounces Imports - -- -thous. of dolls ._ Exports thous. of dolls.. Silver: Production thous. of fine oz_. Imports thous. of dolls.. Exports -.thous. of dolls— Price at New York dolls, per fine oz._ FOREIGN EXCHANGE BATES Europe: England dolls, per £ sterling-. France dolls, per franc— Italy dolls, per lire-. Belgium..dolls, per franc— Netherlands dolls, per guilder-Sweden dolls, per krone-Switzerland dolls, per franc— Asia: Japan dolls, per yen. _ India.. —dolls, per rupeeAmericas: Canada dolls, per Canadian doll— Argentina —dolls, per gold peso— Brazil- _ ._ dolls, per milreis— Chile dolls, per paper peso.. U. S. FOREIGN TRADE Imports Grand total _ . thous. of dolls.. By grand divisions: Europe— Total thous. of dolls.. France thous. of dolls— Germany —thous. of dolls.. Italy thous . of dolls _ _ United Kingdom thous. of dolls.. North AmericaTotal 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 _ By class of commodities: Crude materials— thous. of dolls. _ Foodstuffs, crude, and food animals thous. of dolls __ Manufactured foodstufls... thous. of dolls.. Secnimanufactures thous. of dolls.. Finished manufactures thous. of dolls.. Miscellaneous __ thous. of dolls ._ Exports Grand total, including reexports thous. of dolls— By grand divisions: Europe— Total . -thous. of dolls France .. . thous. of dolls . Germany . .. .. thous. of dolls Italy.. thous. of dolls.. United Kingdom .. -thous. of dolls North AmericaTotal -thous. of dolls Canada. _ thous. of dolls _. South AmericaTotal thous. of dollsArgentina thous. of dolls _ Asia and OceaniaTotal thous. of dolls Japan _ -thous. of dolls Africa, totalthous. 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 foodstuff s_— thous. of dolls. _ Semimanufactures.. thous. of dolls.. Finished manufactures thous. of dolls. . Miscellaneous _ .thous. of dolls. _ Agricultural exports (quantities) : All commodities index number All commodities except cotton index number.. PER CENT INCKEASE (+) OR DECREASE (— ) 1924 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH NOVEMBER 30 Novem- NovemDecember October November December ber, 1925, ber, 1925, ber, 1925 ber, 1924 Per cent increase (+) or decrease (-) 1925 from 1924 from from Octo- Novem- 1924 1925 991, 988 8,772 309, 346 21, 973 957, 806 8,807 121, 050 256, 666 -3.4 +0.4 -60.9 58, 546 68, 082 98, 611 57, 326 58, 849 91, 531 -2.1 -13.6 -7.2 78, 329 797 4,128 6,784 128, 030 812 50, 741 28, 039 102, 641 787 10, 448 24, 355 127, 184 828 19, 702 4,125 106, 488 802 19, 862 6,689 90, 816 825 10, 274 39, 675 -19.8 -3.6 -3.1 -1.9 -79.4 -47.4 -13.1 +264.1 4,845 4,504 7,487 .716 4,644 5,602 8,783 .711 4,777 4,049 8,111 .692 .689 5,631 5,829 9,465 .708 5,624 6,481 9,401 .693 5,674 5,864 11, 280 .681 +2.9 -27.7 -7.7 -2.7 -15.1 -37.5 -13.7 -0.1 4.85 .047 .041 .044 .402 .268 .193 4.84 .044 .040 .045 ,402 .268 .193 4.85 .040 .040 .045 .402 .268 .193 4.85 .037 .040 .045 .402 .268 .193 4.49 .052 .044 .048 .391 .266 .192 4.61 .053 .043 .048 .401 .268 .193 4.70 .054 .043 .050 .404 .270 .194 +0.2 -9.1 0.0 0.0 0.0 0.0 0.0 +5.2 -24.5 -7.0 -6.2 +0.2 0.0 0.0 .408 .366 .410 .366 .423 .366 .432 .366 .388 .337 .385 .344 .384 .353 +3.2 0.0 +9.9 +6.4 1.000 .917 .135 .120 1.001 .934 .148 .121 1.001 .944 .146 .122 1.000 .942 .142 .122 1.000 .836 .112 .111 1.000 .855 .155 .113 .997 .883 .115 .113 0.0 +1.1 -1.4 +0.8 +0.1 +10.4 -5.8 +8.0 349, 954 374, 061 376, 665 310, 752 296, 148 333, 192 +0.7 +27,2 3, 276, 771 3, 830, 255 +16.9 100, 370 12, 843 15, 067 6,724 31, 288 115, 834 15, 675 15, 703 9,680 37, 717 118,231 14,492 15, 728 9,323 42, 342 106,477 14, 123 13, 701 9,019 36, 530 97, 911 13,729 11, 909 7,989 35, 675 110, 721 14, 436 12, 793 9,084 39, 349 +2.1 +20.8 -7.5 +5.6 +0.2 +32.1 -3.7 +16.7 +12.3 +18.7 985, 433 133, 200 126, 465 65, 938 327, 128 1, 122, 389 142, 186 142, 892 92, 753 375, 563 +13.9 +6.7 +12.9 +40.7 +14.8 76, 548 37, 356 81, 987 47, 115 75, 868 43, 233 75, 124 33, 729 71, 177 35, 059 69, 135 36,489 +23.3 +6.6 925, 939 362, 578 902, 116 412,087 44, 321 5,603 38,789 4,003 43, 319 6,714 42, 103 4,700 41,925 4,582 44, 524 6,294 +67.7 +46.5 +3.3 421, 947 69, 004 471, 062 73, 024 123, 239 47,970 5,526 133,989 39, 079 3,506 131, 459 37, 242 7,788 82, 920 29, 308 4,128 80,979 28, 364 4,156 -1.9 98, 017 -4.7 39, 626 11, 165 +122. 1 +31.3 +62.3 +87.4 882, 288 300, 436 61, 163 1, 252, 533 344,937 82, 155 142, 198 151, 144 165, 904 100, 726 106,807 131, 701 +9.8 +55.3 1,105,427 1, 545, 508 45, 247 33, 110 58, 021 65, 370 6,059 44, 278 33, 192 65,713 77,224 2,553 46, 588 29, 339 62, 223 70, 515 2,096 42,462 38, 414 56,651 68, 979 2,320 38, 076 28,936 58,917 61, 464 1,948 40, 098 27, 896 60,923 70, 759 2,185 +5.2 +22.4 -11.6 +1.4 -5.3 +5.6 -8.7 +14.7 -17.9 +7.6 384, 820 493, 706 592, 627 680, 212 19,979 446, 803 404, 664 687,817 722, 258 23,205 -2.6 +13.7 +11.6 +5.8 +42.0 +14.8 +34.3 +39.8 +16.1 -18.0 +16.1 +6.2 +16.1 420, 360 490, 601 447, 595 527, 172 493, 573 445, 748 -8.8 -9.3 4, 145, 235 4,441,404 +7.1 228,379 20, 545 52, 117 12, 793 90,334 282, 702 34, 051 56, 481 17, 392 121, 394 237, 644 29, 560 39, 120 16, 766 107, 247 290, 615 26, 787 49, 655 21, 955 125, 432 305, 456 36, 765 58,312 22, 863 125, 835 273, 342 27, 862 50, 671 23, 914 115, 884 -15.9 —13.2 -30.7 -3.6 -16.7 -22.2 -19.6 -32.9 -26.7 -14.8 2,171,049 253,802 389, 745 163, 232 866, 150 2,356,393 252,082 434, 359 187,671 917,676 102, 819 63, 338 96,491 55, 798 93, 739 53, 650 133, 314 86, 270 93,094 53, 110 76,398 38, 123 -2.9 -3.8 +0.7 +1.0 1, 012, 778 585,043 1,044,771 599, 699 29,006 9,661 31, 135 12, 144 34,991 13, 230 32, 820 12, 764 27, 087 10, 108 29, 752 10, 702 +12.4 +8.9 +29.2 +30.9 285,406 106, 391 359,061 131,888 53, 107 18,012 7,008 412, 698 73,421 33, 170 6,861 482, 921 72,654 29, 861 8,568 439, 449 64, 190 28, 928 6,232 518, 265 63, 149 31, 548 4,787 486,453 58, 362 26, 451 7,026 438, 650 +24.9 +79.0 -1.0 -10.0 +15.1 -5.3 -9.0 -9.7 612, 734 223, 855 63, 268 4,059,063 601, 984 200,906 79, 195 4, 359, 381 131, 579 209, 659 172, 534 162, 432 196, 372 168, 273 -17.7 -12.1 1, 158, 007 1, 261, 459 +8.5 -0.7 +11.4 +15.0 +5.9 +3.2 +2.5 +25.8 +24.0 -1.8 -10.3 +25.2 +7.4 +8.9 34, 179 52, 659 50, 058 143,470 753 19, 312 51, 474 50, 751 151, 070 655 19, 485 46, 972 50, 035 149, 232 1,191 101, 820 58, 711 53, 428 141, 107 767 58, 940 54, 461 50, 896 124, 897 887 39, 516 54,388 53, 704 122, 003 676 +0.9 -8.7 -1.4 -1.2 +81.8 -66.9 -13.8 -1.7 +19.5 353,071 519,205 556, 867 1,466,035 5,878 296,707 521, 080 606, 053 1,666,798 7,284 -16.0 +0.4 +8.8 +13.7 +23.9 128 168 149 204 19>4 161 -11.3 -23.2 158 129 124 298 209 178 -3.9 -40.7 o -7.5 -8.2 +11.7 +34.3 OF COMMERCE OF \ Zp , - v ' f , < 4. v ~ , t , ' ' - ; * , / ' r * : " ™ H" ' 4, ' ' ( -f * /'^Vv'V'ficeeigit ^iiblications ^f the Department of Coaimeree having the ttfcogtf direct interest %* readers of the BUJRV&T Gf CttREjBNT *$f ij&j&&^&^$^^B&&'jbeknft.' /,Sr^<)mj>iete list may be obtaiiied fey addressing the JtHyision: of JPablicatioi^s/Department of Cpim&eroe, : t ' ^v^;^ ^is^hinji^n^ * Gp[pi€^%Of^^6rjpjil)licatlons mayJbe purchased froin the Superintendent ofyHociiBaerits, Government Printing ^'J-ppI^^ .Pino price is ?n^tip»€^? ti^^ublicatloli Is ^distributed .free.* . 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V"' ^ /: V - - T . t ' ."J^y-^s 'N"'-y>^i"' > * ^, ** i ,^T" "^ ,-- i' r^ - °v/^ *j*A!i'r f ' " ' "**'-' [- '"Cb'''^'^"-. ^'^^'A^f^i^ DEPARTMENT OF COMMBECE t; J HEfeBERT HOOVEE, SECRBTAEV 3 '.^v* - " f?^^ r-v/''\\"' - ' ~^^^~ J ^*^-%^^ v lJ?Att^^^|^^ -"ff (ifeceiii^%fc 1^0^^i^b0p;o^i^ General Cens f,l^d).^3^t^p0|>ulaton ^^tt^, _ T __, %._ T . i&r, ^EHBQipo^tcd places, ''m&Sji of cities, #nd mi^orw^I division*; racje; ser; age; marital COB, dtljoa^ State, 01 biiNfc of vio^tly^ pdpulation^ iaualfy of bitth j s r; gantry of oiigx&taiid Mother tongue of foreign ^it$js$Qot \* (oot^pftsefc fp^gn-ftora wMte aid iiatfye wwte of fofclgft^ * "• * '"• >:, trea* fcf /imiaigratiomC -^»— ^*^ -^^' j|«L i-^ -." ^f-^-'SL.'iis.*..-.' JL i. j L V if W»*«5«U.lM-M3t3£ v *JU**Cf7**V;i? | »-"*>*^**VJf -«p ^»JD»a. ~ ^ifti^cfaifiMp^Vo^^d^lptp^of homes. Occupations: JPersons , ^f^fiis, of age aid o^ ^aipfu% Qpcupie^ •^f-ii^a - a^^ fc^ ^otc^ri ^c^pledj Qy! maTital conditiotii'i" *v';^V*v*' V >!-i J " "^^^' ; ^*4tifte^ * eiises; quaniiwes ana vaii^e 01 proaucis; aripg;v*fee :t ^e^ur:; ifM^fJ^3 tl^iiMty4 of, jai46flOU£^UW<3JUMJ ft4i*&^£ ^ >V ]pp;W^1IS<^|Mt^ ; f^N ^qid^Vbt^'^ii^^ ' Jfi^f^-iif^^ ^s^^w^iibte^^'or:;d^afhess k%M \^1^0$^^^M^ "- tfatty&frtfr, " v : . ^'X-V^V^k .._ ^-,__, ^^d^aud, iLr , ^ r , -T-^^,, ,_^ r -^r^-, Mines imjl$ij^^ ' eponding to that shown for manuf^tur^ ,|oi I'Wto^lfrjd^f^^ »k% iiJ^ regard to mine timbers used underground, v.>1ti*''\^v'^'v'''" x x'' * Forest Products ~fali$^^p^ ^f Itt3baber./la%, ^hl^|fe> ^id W0od pulp, andy the consump, ;.i V*VC»y**O VAUJtJULJ^ •• -j^x » y**-^ Jf,v».*V^V»^y T O»J.ULX> vra, '-JJ|*. V/^F»>* VJ ,w»»Mt jfc**V— ' : tion of pulp wood. ' ments and receipts, for hospitals, aanatoriums, and dispenf \ "* ''>'r~\.~'^ ^::^^^> /,^ saries. " s « ^ •/, .- ,-,•;;>/>!,, v i rj , t ,- l , ^"'.C V 1 / ,, * •' f ^C^OULXQi^JlpB^^ * lies (decennial, 1916).—Shows, to? ew _ Agriculture (quinquennial, 7525).—Farm operators, by color denomination^ numto of church organizations and church and tenure; farm population; farm acre^e,r by classes of ; land; . farm values; farm,.,.. mortgages; farm expenses; ,_..., ...... ,.j»,. ^.selected , .^^^^y^^ — ^r-^T^ ^^^^f ~^~<—^fc;^i^p^i^^re-: * %^'w^'ViJ^jrt.^flM^ ,*cv i d, -^aS^iVJl. Divorce (annual).—Number of marriages and II^^tLlii'Jl*i'l_,^^i_ JLtj?-.j.ijfii.Ji i^_ - isi'—L^Zi-t^ueVLA • ' d ^%iitb^^%tf-o^^rw^iflM^tM<^-^^^:^:' • tested, causa of divorce, aad number of chUdren afi&jtM tf *x\wyt'£< «/,+'. : * j >^ ~ ^Ay*^*,*,** i ; ' r ; v ? '" " ^ - : ^ " ' " " ' -- ' " ",. ?X-i^ ». ^ v .*# ^' l> -^ '.'- / v ; ' V ' v f ' ' ; *•( " HjSt* i -^> , &£&&&*• ,~V » r — ^ 5 ^* ^•^CT^*»—T : i; q*iaat% -a^:^t^,r1trat^^^j -S^.^S||"i^i^,of' ^^ow^e^,:r",i'\:-\,; ;;;,/ ;K/^^f;%^-l;4;t^ ' ;<A : /)rafna^e (^c6nn/a^/92(>).—Cost and character of enterpr^ ' 1^. ' ^* ' ~—•• ^^^-Jr.J—'—VFS^U^ ^ J ^ w i K ? • * •T^*' A Wjr.Jk/9 ^vW^ rA*»lB6W*Cl|jj^Jv^Hw*V». f**'* wWIJv^',%JU^*wJ.J|CRJsi ^BCM|vBynmiTOUtyO -C»Jk»v.» »*/vfim COMMERCE, 'L^~£:|~^ i^^^^^.^^- ^Ii^^^.^^— 1 g%, ^tMtj> ;;^ ) PMajit iprfdt ^ tant current statistics on domestic industrial and comm ^ movements. Figures ate gathered from numerous trade ari/ments, reaerai, DT-aie, ana loreign, wnicn ^oi») »tftefMj^f ;By fe|iisMag 'itt%^d|ta for; this J T L I - A < _ l t _ *»,. ,-LlJ^ .-i^^. ,!•._' ' 5 i _ . _iiiJ*» ri.flfto't^ i J .«_. _. , ;gr|tpM^^te^f|^^ 1 1 Statistics of Current Production, Stocks, and Consump^:< >%^^^S^miW)tt|^i^r;xt^^r;. ^^'^pii»tt^1 ^iBliK^tds -^ ^ .. , * - _ • •> ^ 4 >• *\*.*• t » \ ^ * ;^ t j*> > a»d per commoa^ti^ boots^ *• ^n^t ^e«B8| J^^f^^M^f% ^<^>U to^^Bpr^W ^Hiif j v : B ti^derit^wf^ete^ • , , .-V?J '^au **. •* I--B ~ -' \x' <'"';;.' _ r \ * J>'- "- ,.'/* •'*- :"^ vi,^< ,. * ' > • ^* * "^" ;gufngwennfaZ, /«|^MMsti of ' ;^^wl^fr^to.^i%io» i^^.,^^.^^^...,«,,.-,. K i tbif' tcMJ^%i^,%^i¥f t^,^'ttiilfo%\pu)aic;jtev^ nues, and public debt for States, counties, cities, etc.; digest - - -" - ' \* - ^ r > ' 'l:dbe^^'^^M^bi«^iiMiA«^iteftt4^^;^ibyf,Wafl «• Urt Dlwttor ttf the C«»«as, W««aaagtoB, D. <X ,