Full text of Survey of Current Business : June 1928
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V; ^ * « ^ v - 'f ',",<•":" /",'' ^ ^ x > x %> " j,' \- v Digitized ;VV^ for FRASER- *v-V^;,'^-;^ - ; .^J ;, ^ rr?/*'' ^ ' - - " ,-ri, v . j f - ' s , * . -^ -- c ><^'f" - ,, \ . u - > / UNITED STATES DEPARTMENT OF COMMERCE SURVEY OF CURRENT BUSINESS C O M P I L E D BY B U R E A U OF THE C E N S U S IN COOPERATION WITH BUREAU OF FOREIGN AND D O M E S T I C C O M M E R C E AND B U R E A U OF STANDARDS WASHINGTON No. 82 June, 1928 CONTENTS INDEX BY SUBJECTS SUMMARIES Page Preliminary summary for May 1 Business conditions in April 4 Business indicators (table and charts) 2, 3 Wholesale prices (table and charts) 5, 6, 7 Indexes of business (production, prices, sales, etc.) 15 Automobiles, building, mining, manufacturing, electric power, and transportation (charts) 8 NEW DETAILED Textiles Metals and metal productsFuels Automobiles and rubber Hides and leather Paper and printing Building construction and housing Lumber products Stone, clay, and glass products Chemicals and oils Foodstuffs and tobacco Transportation and public utilities Employment and wages Distribution movement (trade, advertising, etc.), Banking and finance Foreign exchange and trade, gold and silver TABLES Debits to individual accounts at clearing-house centers... Interest rates, New York market Monetary gold stocks and money in circulation (revised). Production of electric power by groups Potash salts, France and Germany Air mail, weight dispatched Wholesale prices by state of manufacture Wholesale price, straits tin Corn sirup and starch, distribution 18 21 22 22 22 22 23 23 23 rt ;e 9 10 11 11 11 11 12 12 12 12 13 14 5 14 14 14 Table page 24 26 30 29,31 31 32 34 34 36 37 39 42 44 45 45 47 PRELIMINARY SUMMARY FOR MAY Prices for stocks again reached a new high record during the month, while bond prices, reflecting higher interest rates, exhibited a tendency to decline. Interest rates on call loans averaged higher than in either the previous month or the corresponding period of 1927, while brokers' loans increased during the month to the highest point for all time. The Federal reserve ratio continued to decline, while rediscount rates were generally raised. Business failures were larger in number than in either the previous month or April of last year. The output of lumber was running smaller than in either the preceding month or May of last year, but bituminous-coal production was higher than in April and showed but little change from May of last year. Car loadings of freight were running higher than in April but were still below the level of a year ago. Petroleum production continued to decline from both the preceding month and the corresponding month of 1927. Business during the early weeks of May, as reflected by the volume of checks passing through the banks for payment, was larger than during the corresponding period of 1927. The volume of new building contracts awarded was running higher also than a year ago. Operations in steel plants, although slightly lower than in the previous month, recorded higher activity than in May of last year. Factory employment in Detroit, reflecting conditions in the automobile industry, was greater than in either the previous month of May, 1927. Loans and discounts of Federal reserve member banks reached a new high point during the month, while interest rates continued to rise. The general level of wholesale prices showed but little change from the preceding month but was higher than a year ago. Prices for iron and steel were weaker than in the preceding month or May of last year, while prices for copper, cotton, and wheat were higher than in either period. 106764—28 1 (1) MONTHLY BUSINESS INDICATORS, 1920-1928 [Ratio charts—see explanations on inside front cover. The curves on check payments, wholesale trade, sales of mail-order houses and 10-cent chains, and department stor< have been adjusted for normal seasonal variations, and that on manufacturing production for the varying number of working davs in the month] ,1 1923 I 1924 I 1825 ! 1926 | 8927 1 1928 {923 | S924 1923 I 1924 | 1925 | 1926 1927 I 1928 MONTHLY BUSINESS INDICATORS The principal business indicators are shown below, all calculated on a comparable basis, the average for the years 1923 to 1925, inclusive. Thus the table gives a bird's-eye view of the business situation in a concise form, so that trends of the principal indicators may be seen at a glance. Certain indicators, in which there is a marked seasonal movement, are shown with the average seasonal variations eliminated, as noted below. In this manner a more understanding month-to-month comparison may be made. 1923 | 1S24 j 1925 1928 1927 MONTHLY AVERAGE 1928 | 1927 Feb. i Mar. Apr. May June July | Aug. Sept. Oct. j Nov. | Dec. Jan. Feb. Mar. Apr 103.4 93.2 88.6 95.9 90.5 91. S 66.5 40.7 40. 138.2 116.3 96.5 101.5 94.4 82.9 105. S 119.4 88. C 103.7 88.7 96.1 115.4 70.2 78.6 79.6 113.5 95.2 109.0 97.1 117.0 98.1 70.8 90.6 111.8 102.0 127.6 107.8 157.1 95.7 102.6 120.2 93.3 103.2 97.1 101.0 94.6 83.1 99.5 117.8 101.5 103.8 90. 8! 94. 5 81.9 98. 2i 104.6 102. 2J 84.7! 84.1 61. OJ 89.11 93.1 94.3 94. OJ 100.4 93.2 110.9! 122.2 117.5 94.9; 100.9 73.9 102.21 106.6 105.0 1925 monthly average=10Q Manufacturing production: t Total Pig iron Steel ingots Automobiles Cement Lumber (5 species) Cotton (consumption) Wool (consumption) | I j j | i j j Raw material output: \ Total Animal products Crops Forest products Minerals (all) Crude petroleum Bituminous coal Copper j | I I i I | Power and construction: i Electric power I Building contracts (37 States) I ; Unfilled orders: General index U. S. Steel Corporation Stocks: * General index * Miiiifd. commodities (28) ; Cotton ! Copper (refined) 94.3! 86.7; 88.7! 90.9! 99.! 96.2 89. ?| 94.6J 103.8; 101.5! 106. 4 j 107.71 108.1 105.2 104.4 92.6 106.9 109.0 113.1 108.5 110.0 101. 5 108.5 89.7 104.5 108.4! 114.3! 113.4 116.0! 113.4 107.6 101.0 98.4| 116.6 114.5 113. si 103.4 98.8 104.6 110. 3J 131.2 119.4 117.1 101.1 92.7 85.7 92.3J 119.5j 122.6 122.4 97.5 81.3 115.3 59.4 92.1 HS.Oi 134.4 138.6 140.1 94.9 86.01 91.6 91. Oi 101.9 96. 6 120.3 115.0 135.3! 120.6J 123.3 129.1 110.9 97.0 97.0 114.5 92.81 93.6 95.0 84.1 107.6 98.6 101.2 93.5 147.4 107. 5 123.4 98.1 105.0 92. 94.6 78.9 140.8 105.8 122.2 101.6 102.4! 101. i j 107.0! 97.51 96. 5J 96.91 92.5| 100.2J j | i j 92. 5j 98. l! ! 89. 7j 92.7: 99.9 97.8 100.8 103.4 98. 9J 103. 7| 99.5J 106.4| i 104.0 9i 106.2 97.5 107.4 104.6 109.7 110.2 106.8 92.9 96.9 82.9 91.1 101.2 85.4 102.0 102.7 116.1 112.5 93.2 84. 7 61.0 63.1 94.7 84.3 92.2J 94.2 103.4 107.2 104.4 115.3! 96.7 108.2 121.4 110. 6| 122.71 118.2 124.2 99.4 121.41 138.1! 79.6 81.2 104.9 105. l! 107.8 108.6 113.8 97.6 124.4 103.3 115.1 127.1 95.7 102.0 138.1 j 154.4 94. OJ 102.4 185.5 215.8 101.6 98.0 109.5i 113.7 122.3 96.21 101.0 100.0 106.1 | _.! _| | j | j I ! I | ; 88.9J ; 86.6; i 102.5? 106.4! 90.2 97.7 76.3 94.3 103.0 127.6 77.2 99.4 107.7 106.0 115.8 87. 98. G 120.7 94.8 101.9 91.3 84.6J 74.0 SO.GI 82.11 71.1 81.5| 81.2; 77.2! 74.3| 72.2! 72. l| 71.5| 69.9 75.3! 74.4j 72.4J 63.9! 63.9J 65.8! 66.9J 65.9 102.2 108.9; 129. 5j 139.6 142.6! 136.1 129.1! 134.6 104.1 108. 6 i 109. 41 120.0 115.6! 115.1; 115.5J 118.0 91.4 108. 2! 145. 5J 153.2 196.2! 172. l! 148.2! 124. oj 113.9 73.1J 64.8J 85.4 93.1! 91. l! 87.7! 95.5 106.6! 96.3 97. HJ 99,7J 97.6! 98. l! : 97.2 98,0! 94.3 eV.O 97.4 94.9 92.0 91.3 95.4 95.0 93.7; 103.6 104.2: 102.9 99.9 100.5. 99.9 97.1! 97.2 97.6 99.9 106.6: 102.6 104.9! 102.3 98. 6 j 99. l| 107. 6j 102.3! 91.2: 96.7 .101.0! 98.0 OS. GI 69.0 12.0! 98.0. S8. 0| 89.0 97.8J 93.1 91.51 100.8 111.9 101.0 103.0' 110.0 113. C 109.0; 107.8! 119. 6J 132. 5 9S. 0; 95.0 ICG. OJ 106.0 115. OJ 120.0 125.0; 138.0 114.3; 107.9 105.5; 106.8J j 99.8 .! 102.2 114.2 106.6 124.5 124.2 108.4 113.3 102.3 98.7 82.0 131.6 129.5 129.2 133.5 131.7 138.2! 137.1 143.8 144.9 137.0 144.2 136.5j 109.5 122.6 133.3 123.0 117.6! 111.0 106.8 82.6 132. 4i 126.0 111.6| 118.61 102.4 110.1 101.9 115.o! 106.2! 95.2 96.0 103.7! 132.7 142.4J 132.3, 95.0 106.0 112.0; 133.0 96.2! 98.2J 132.8| 116. 9^ 100. s| 85.1 141.4: 121.3. 85.8! 92.2^ 152.7 145. 8j 127.9! 127.9! 87. 6J 135.2! 82.7! 76.4! 67.0| 67. l| 71. 70. Oi 72.4! 83. 140.1! 125.2 179.8! 74.1! 140.9! 120. 9J 200. 0| 80.3| 81.2! 81.6 89.5 92. 1 80.3 90.8 t Adjusted for cumber of working days. 96.6| 65.6i 95.0 93. i j 93.2: 93.8 93,4 91.61 C 94.2 93.0; 106.21 100.5 94.2j 63.3! 102.9! 98.7 95.7; 94.4, 101.6! 98.7! 101.4| 95.6! 102.9 99.3i 100.71 96. l| 104. 3i 99.9! 99.31 95.8J 104.9! 99.9: 136.6! 134.3! 96.0! 64.0! 105.0 105.0! 117.0 113.0! 128. O! 137. OJ 117. l! 116.3! 107.7J 109.4J 127. 7j 95. OJ 103.0! 118.0! 132. OJ 107.3 103.5 129.7 93.0 104.0! 121.0 135.0 109.91 94.0J 127.8 95.0| 103.0; 127. Oj 139. O! 98.9\ 90.1J 137.6! 100.0! 111. OJ 133.0| 140.0! 114.2 98.?! 141. 0; 66.0| 109,0 122.0 141.0 105.9 112.0 130.7' 91.0| 105.0! 117.0! 144. OJ 110.1! 128.7 132.1| 136.6 05.0 93.0 107.0! 111.0 118. O1 1280 140. 0! 147.0 1GS. 6J 102.5 121.4! 107.4 101.3! 95.21 96.8 86. 1; 108.8! 102'6 102'7 99.4! 107.5 103.1! 102.9 112.5! 115.1 122.1! 99.8 92,7 114.6 95.2 103. 111.9 158.31 159.8 125.4 116.7! 95.9 99.5 112.1 162.4 167.6 89.1 117.5 95.9 100.5 111.2! 165.3! 168.8 81.3 115.7 94.5 103.2 111.4 167.3 177.3 101.8 117.3 90.6 101.4 112.9 167.9 183.7 92.4 119.3 120.0 92.2 96.4 113.4 114.4 171.5 168.5 193.9 186.4 77.3 85.5 121.4 91.0 92 2 114.9 171.6 190.0 85.3 * Seasonal adjustments. 89.8.1 91.2 99.3! 97.8: S 95.9 95.4! 95.oi 104.2 103.6J 101.3; 99.9 99.2 98.4 : 91. 3! 92. Pi 103 6! 99.9! 114.6! 92.9! 102.1! 111.2! 152.4! 150. 8J 136.5 73.7! 81.11 139.3 137.0! 144.4 137.1 135. 7j 116.9 126. si 125.2; 122.3 121.71 195.8 178.8 159. l! 135.7 117.8! 84.2 85. 2 76. 8! 77.1 64.4: 90.6 92.9' 102.9: 99.9 97.6 102.8 106. Sj 104.0 107.8! 135-3 95.9; 101.9 109.11 101.5 99. S 112.1 Finance: Member bank loans and discounts. 94.1 98.5; 107.4 112. 9| 117.3 114. l! Interest rate (commercial paper).. 115.9 90.8 93.4 98. 5J 93.1 89. 9j Federal reserve ratio 99.0 104.1 96.9 96. OJ 99.1 101. 71 Price, corporation bonds 96.4 99.9! 103.6 108. OJ 112.5 110.6J Price, railroad stocks 86.0 96.l' H7.9 133.4! 162.7 151. i j Price, industrial stocks.._ __ 86.1 91.9! 122. o| 132.4: 171.4 144. 7| Failures (liabilities) _ 106.0 106.8! 87.21 80.4 102.3 110.7! 88.1 107.3 62.6 101.6 107.6 121.4 84.1 105.4 111.3 107.1 130.4 125.2 82,3 i Prices: Farm products, to producers Wholesale, all commodities Retail food Cost ofliving (including food) Transportation: * Car loadings Freight, net ton-miles... 97. 101.0 92.2 99.2 104.5 99.4 108.0 93.4 ' I ; 121, 7{ 87.0 | 125, Sj 83.6 Employment: Factories Distribution (values): * Bank debits, 141 cities * Wholesale trade * Department stores, sales * Mail-order houses, sales * 10-cent chains, sales Imports Exports 102.31 111.?! 104.8J 101.5; 92. l! 98.6 105. 9| 112.8; 123.2 92.2 86. 5 115.6 171.1 193.7 120.9 142.1: 95.1 105.0| 113.0 140.0 104. G! 108.2 149.6; 97.0 105.0J 116.0j 142.0! 108. 7J 97. 8J i 91.8 91.4! 99.3 101.4! 95.1 96.5; 101.2 101.6! 98.1 97. 9J 164.8 92.8 105.0 113.0 142.0 117. 110.8 161.5 89.3 i 103. 0 117.0 147.0 106.8 96.9 98.0 101.8! 129.0 97.2 95. 7j 105.8 121.9 90.1 95.5 115.9 169.1 193.5 112.3 120.9! 93. 6 96. OJ 115.8! 164. 7| 191.21 106. 3| 123.3 97.3 95. 6 115.7 170.1 204.8 129.3 127.3 100.1 90.9 115.9 176.0 210.4 82.5 BUSINESS CONDITIONS IN APRIL PRODUCTION SALES The production of raw materials in April was smaller than in either the previous month or April of last year. Manufacturing output, after adjustments for differences in working time, however, showed increases over both prior periods. Chemicals and oils and stone and clay products increased in production over March, all other groups showing declines, if no allowance for differences in working time were made. Contrasted with a year ago, the unadjusted index showed larger output of foodstuffs, The index of unfilled orders for manufactured commodities declined from the previous month but gained over last year. All groups showed declines from March, while iron and steel alone had larger unfilled orders than at the end of April than last year. Wholesale trade was smaller in April than in March, recording a decline also from a year ago. As compared with both the preceding month and April of last year, all lines of wholesale trade showed declines, except meats and drugs, which registered larger sales volumes than in PRODUCTION, STOCKS, AND UNFILLED ORDERS FOR MANUFACTURED COMMODITIES 1923-1925 monthly average=lGO. Adjustment has been made for the seasonal movement of stocks and relative number of working days for production. are principally those of iron, steel, building materials, and textiles. April, 1928, is latest month plotted] Unfilled orders 140 1923 1924 1925 iron and steel, lumber, and chemicals and oils, other groups declining. COMMODITY STOCKS Stocks of commodities held at the end of April, after adjustment for seasonal variations, were smaller than at the end of the previous month, but larger than a year ago. Compared with March, declines in the holdings of raw materials other than foodstuffs and manufactured commodities more than offset increases in the holdings of foodstuffs, both raw and manufactured. Contrasted with a year ago, all groups showed larger holdings except raw materials other than foodstuffs. 1926 1927 1928 April, 1927. Retail trade in April, as measured by department store sales, after adjustments for seasonal variations, showed declines from both the preceding month and April of last year. Merchandise stocks held by department stores at the end of April, although greater than at the end of the preceding month, were smaller than a year ago. Sales by mail-order houses were also lower in volume than in either the preceding month or April, 1927, but 10-pent chain store business, although showing no change from a year ago, recorded an advance over the previous month. Sales by grocery, drug and cigar chains were lower than in March, but as compared with a year ago, grocery and drug chains showed larger business, while cigar chains recorded a decline. Shoe and candy chains showed larger business than in March but declined from last year. PRICES The general index of wholesale prices recorded an advance over the previous month and over April of last year. Compared with March the principal increases occurred in prices for farm products, foods, hides and leather products, and building materials, the remaining groups either showing no change or declining. Contrasted with a year ago, increased prices for farm products, hides and leather products, foods, and textile products were more than sufficient to offset declines in fuel and lighting, building materials, chemicals, and sundry miscellaneous items. The index of prices received by farmers for their produce also showed gains over both the preceding paper and printing, and tobacco factories were more than sufficient to offset increased employment in lumber, stone, clay and glass, nonferrous metal, and vehicle factories. Contrasted with a year ago, employment was lower in all groups, with the greatest declines occurring in iron and steel, stone, clay and glass, leather and textile factories. Factory pay-roll payments in April were likewise smaller than in March, registering declines as well from April, 1927. Smaller pay-roll payments than in March were recorded in all industrial groups except lumber, stone, clay and glass, nonferrous metals, and vehicles, while as compared with last year all groups showed smaller payments, with the greatest declines occurring in leather, textiles and stone, clay and glass. WHOLESALE PRICE COMPARISONS, BY GROUPS [April, 1928, is latest month plotted, 1926 monthly average=100] 120 •.;<-METALS. AND METAL PRODUCTS 80 month and April of last year. Compared with the previous month, all groups showed higher prices except dairy and poultry products and certain unclassified items, while as contrasted with April, 1927, all groups showed higher prices except meat animals. Retail food costs were higher than in March but lower than a year ago, but the general index of cost of living, despite the increase in food costs, showed no change from the previous month, because of declines in prices for clothing, fuel, and shelter. As compared with a year ago, the cost of living was lower, all items showing declines from April, 1927. EMPLOYMENT The general index of factory employment in April was lower than in March, reporting a decline also from April, 1927. As compared with March, declines in the number of employees in food, textile, leather, Reports from the American Federation of Labor show 16 per cent of union members in representative cities out of employment in April, compared with 18 per cent reported for March. Preliminary figures for May show a still further decline. Voluntary quits of factory labor in April were greater than in March, but lower than a year ago. Industrial lay-offs were greater than in the previous month but declined from April of last year. Industrial accessions during April showed a gain over the preceding month but were lower than in the corresponding period of 1927. Wages of common labor averaged higher than in either the previous month or April of last year. The number of applicants per job at employment agencies declined from March but were larger than in April a year earlier. Employment in anthracite mines, although showing a gain over the previous month, was lower than a year ago, while pay-roll payments in anthracite mines showed declines from both periods. 6 WHOLESALE PRICES FOR SPECIFIED COMMODITIES [Relative numbers, 1926 monthly average taken as 100. April, 1928, is latest month plotted. Data from which these charts are drawn are given on the opposite page] WHEAT, WINTER 160 !40 — 120 - ISO "J"t" F^f / . CATTLE .STEERS ^^ ^* ^ 120 - ^ •• % ' —I— •X^— — i • i -.|..|....T-f.|..t..J.- — 1 HOGS, rf HEAVY _ ~ | i r - - HAMS, SMOKED " r -|-r-y^— — "" ^fc. *•« ,.• *** - —— •Mft If. i 100 « .. ^ J r 80 J_ r> *• ,,»*•» B**a, 60 SUGAR, RAW SUGAR, 120 x — _ BEEF, CARCASS _ i X^ ^•.j..,..,... .- —r- ; 140 - 1 S_k.— __ Xs .„ *& ISO OATS i ——— — rff '-Lj' 8 ]*" •• .., 80 CORN, NO. 2 I _ / soo FLOUR, WINTER -J GRANULATED r' -l-i. ,4" •. *., •BSR COTTONSEED OIL •l-l-i RUBBER, CRUDE ^ 1 — -.}... ... 100 J •V 80 ^# \" 1 60 COTTON YARN COTTON, RAW " - ... •• •,( ^ COTTON PRINT CLOTH 100 — •• «•** ^ •'' ^ •* 09 > •• * WORSTED YARNS 190 . an otf ESS! ••' .• •• •* •• ». . . . !s»Sasa •* ..j.. ** S,0> .» •' 160 ^•* '.. 100 •^— .• • *** ... ... ,4-j .* * * - X~ .• BH« .. > • ••' „_ PETROLEUM LEATHER, CHROME CALF — «n •nan 100 1 PK: J20 _ .. .- 60 i COKE BITUMINOUS COAL j -x •* ». .. S40 COMBING •• 70 ISO .••r •• LEATHER, SOLE, OAK __ - 130 "• .8 4 ao OBBI ef* •., '* * HIDES, PACKERS SILK, RAW i ;i WOOL, % BLOOD 140 120 _ IRON , Fou ND RY ^ BBl C OP PEF^ ! NG OT S TIN 2 IN( ! 100 T* 80 —^ 60 STEEL BEAMS 120 300 *v* *** 80 CEMENT LUMBER, PINE, FLOORING BRICK, COMMON, ... — • •. »a "•. 4 » *• 60 i g iii I H 1 § li i i 1 1 i 1 ) 2 ] 3 a O 2 < ^ uj v> 192 /„,,. f-' o o > o Z CS ia Q ij I s 1 1 \i i § i i i i 1 i 1 1 i 1 1 i i § ; < WHOLESALE PRICES FOR SPECIFIED COMMODITIES NOTE.—Prices to producer on farm products and market price of wool are from U. S. Department oj Agriculture, Bureau of Agricultural Economics, nonferrous metals from the Engineering and Minino Journal-Press, exoept tin, which is from the American Metal Market. All other prices are from U. S. Department of Labor, Bureau of Lfibor Statistics. So far as possible all quotations represent prices to producer or at mill. ;| i RELATIVE PBICB i , ! (dollars) ' ! Unit COMMODITIES ACTUAL PRICE 1926 averag8*=100 ! March, 1923 April, 1923 April, 1928 March, i April, 1927 ; 1927 FARM PRODUCTS—AVERAGE PEJCE TO PRODUCER Wheat Corn Potatoes Cotton Cottonseed Cattle, bpof Hogs Lambs ... . - - - - _. Bushel i Bushel.... i Bushel ! Pound ,_ Ton Pound . Pound Pound 1. 216 . 862 i 1.132 .178 37. 77 .0881 .0748 . 1231 1. 292 .919 1. 168 . 187 39. 40 .0892 . 0775 . 1271 1. 17'J .Gob 1. 208 1.23 25. 80 .0713 .1041 . 1197 Bushel Bushel 1 Bushel Bushel.... Bushel Bushel . . Cwt i Pound ._ Pound Cwt Cwt . Cwt Cwt . _. 1. 315 1. 619 .991 i .607 i .991 1. 202 i ' 12.467 . 195 .52 13. 719 7. 825 8. 406 15. 375 1.417 1.812 1.033 .646 1.011 1. 266 12. 735 . 203 .53 13. 340 9.085 8.900 15. 975 1. 341 1.336 . 735 .477 .826 1.031 6. 490 . 146 .43 12. 281 10. 506 7. 781 15. 813 7. 538 6. 880 .045 .057 .096 .205 .221 .207 .49 .235 8.113 7. 556 .045 .058 .099 .200 .222 .201 .45 .215 Pound Yard Yard Pound Yard . .. Yard Yard Pound Dozen pair_ .366 .076 .092 1.525 1.025 2.008 2.095 5. 194 10. 290 .366 .076 .091 1.550 1.025 2.008 2.095 5.390 10. 290 Pound Pound. .. Square foot. Pound Pair Pair , .237 .269 .600 .650 6.750 5. 000 .256 .295 .600 .655 6.750 5. 000 Net ton Net ton . Long ton... Short ton.Barrel 4.044 4.410 13. 207 2.719 1.190 4. 016 4.249 12. 794 2.744 1.190 4.265 4.689 12. 932 3.494 1.114 Long ton... Long ton... Long ton Pound Pound Pound Pound Pound 19. 010 17.000 33. 000 .1385 .188 .0600 . 5218 .0562 19. 010 17. 000 33.000 .1399 .188 .0610 . 5236 .0576 20. 260 19. 000 33. 250 . 1281 .182 . 0713 . 6802 . 0634 M feet Thousand „ 35.69 13. 250 35.74 13. 50 39.56 16. 50 1.600 1.900 .204 15. 500 2.525 3. 250 1.600 1.900 .183 15. 500 2. 525 3.250 1.600 1. 900 . 274 15. 000 2. 750 3. 250 90 123 61 118 139 136 6: 5 10(3 96 123 63 124 145 138 66 110 90 93 68 83 94 106 92 100 87 94 68 82 95 110 88 104 82 100 125 134 139 117 228 106 113 155 65 124 110 85 105 131 141 143 126 i 147 111 113 144 63 128 !i 112 92 118 136 150 146 133 150 116 115 140 74 135 117 88 87 96 113 112 105 124 82 96 125 89 121 110 111 119 108 77 84 93 129 85 118 115 7.250 6.580 .048 .058 .091 .170 .187 .268 .50 .215 92 98 102 78 129 135 68 104 103 90 1 95 104 104 81 125 130 67 109 103 96 104 103 106 84 122 130 65 100 94 87 91 110 106 80 104 103 88 113 94 91 111 106 77 104 109 87 111 94 .312 .068 .081 1. 350 .975 1.913 2. 048 6.125 11. 270 101 103 102 105 97 97 97 85 85 102 101 99 106 99 100 97 84 85 102 101 97 108 99 100 97 87 85 176 168 132 148 106 102 169 155 132 148 106 102 183 170 132 i 149 106 ! 102 j 94 94 94 92 96 6 63 93 89 93 | 67 63 1 1 i 92 92 94 100 99 75 92 92 94 100 99 71 80 77 92 92 94 101 99 72 80 ! 78 97 95 97 90 106 91 : 80 82 79 81 79 ! 82 103 100 97 97 97 54 107 88 94 97 97 75 103 96 94 97 97 FARM PRODUCTS-MARKET PRICE Wheat, No 1, northern spring (Minneapolis) Wheat, No. 2, red, winter (Chicago) Corn contract grade No 2, cash (Chicago) Oats, contract grades, cash (Chicago) Barley feeding (Chicago) . Rye No 2, cash (Chicago) _. ._ Cotton, middling upland (New York) _ Wool, % blood combing, Ohio and Pennsylvania fleeces (Boston) Cattle steers, g ood to choice, corn fed (Chicago) Hogs, heavy (C.hicago) Sheep ewes (Chciago) Sheep, lambs (Chicago) . - i i ! i i FOOD Flour standard patents (Minneapolis) Flour, winter straights (Kansas City) Sugar, 96° centrifugal (New York).. Sugar granulated, in barrels (New York) . ._ Cottonseed oil, prime yellow (New York) Beef fresh carcass, good native steers (Chicago) Beef, fresh, carcass, steers (New York) Pork smoked hams (Chicago) .. Butter, creamery, 92 score (New York) Oleomargarine, standard, uncolored (Chicago).. 1 Barrel Barrel ... i i Pound Pound , Pound Pound Pound .. Pound Pound Pound __ TEXTILES Cotton yarns, carded, white, northern, mule spun, 22-1 cones (Boston) Cotton-print cloth, 64 x 60-38H"-5.35 — yards to pound . Cotton sheeting brown 4/4 Trion (New York) Worsted yarns, 2/32's cross-bred stock, white, in skein (Boston) Woman's dress goods, French, 39 inches at mills, serge Suitings unfinished worsted — 13 ounce, mill Suitings, serge, 11 ounce, 56-58 inch . Silk, Japan, 13-15 Hosiery, women's, pure silk, mill i ! LEATHER Hides, green salted, packers' heavy native steers (Chicago) Hides, calfskins, No, 1, country, 8 to 15 pounds (Chicago) Leather, chrome calf, dull or bright "B" grades (Boston) Leather, 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) !l ! ! i 87 j 92 I 87 i 96 94 95 95 93 93 87 90 87 94 94 95 95 i . . 152 .160 .460 .430 6. 400 4.850 ! i 88 102 100 99 108 92 102 98 100 99 FUEL Coal, bituminous, mine-run (composite price) Coal, bituminous, prepared sizes (composite price) . . Coal, anthracite, chestnut (composite price) Coke, Connellsville (range of prompt and future) furnace— at ovens. .. Petroleum, crude, Kansas-Oklahoma— at wells . . 666 64 99 98 97 89 71 94 85 METALS Pig iron, foundry No. 2, northern (Pittsburgh) _ Pig iron, basic, valley furnace Steel billets, Bessemer (Pittsburgh) .. Copper ingots, electrolytic, early delivery (New York) Brass, sheets, mill . . . Lead, pig, desilverized, for early delivery (New York) Tin, Straits (New York) Zinc, slab, western (St. Louis). _. | i 102 95 93 96 85 104 BUILDING MATERIAL AND MISCELLANEOUS Lumber, pine, southern, yellow flooring, mill _ _ Brick, common red, domestic building (New York)... Cement, Portland, net without bags to trade, f. o. b. plant (Chicago district) Steel beams, mill (Pittsburgh) . Rubber, Para Island, fine (New York) Sulphuric acid 66° (New York) Wood pulp, sulphite, domestic, unbleached, news grade (New York).. Newsprint, rolls, contract, mill Barrel. Cwt Pound Ton Cwt Cwt 1 • |: I! j 62 107 97 97 48 107 88 94 : 103 96 94 8 NEW BUILDING CONTRACTS AND AUTOMOBILE PRODUCTION [Relative numbers, monthly average, 1923-1925, taken as 100] MINERAL PRODUCTION AND RAILROAD TON-MILEAGE [Relative numbers, monthly average, 1923-1925, taken as 100] 1920 ] 1921 1922 j 1923 (924 1925 1926 1927 FACTORY EMPLOYMENT, MANUFACTURING, AND ELECTRIC POWER PRODUCTION [Relative numbers, monthly average, 1923-1925, taken as 100] 1928 9 REVIEW OF PRINCIPAL BRANCHES OF INDUSTRY AND COMMERCE TEXTILES Wool receipts at Boston were smaller in April than in either the previous month or the same month of last year, with imports making similar comparisons with both prior periods. Consumption of wool by textile mills decreased from both the preceding month and the same month of last year, with the total for the first four months of the year also smaller than in the same period of 1927. Machinery activity in woolen mills was correspondingly lower in April than in either prior period. Cotton finishers reported smaller billings, new orders, and shipments than in the preceding month, each of these items declining also from a year ago. Operating activity of cotton finishers in April was likewise smaller than in either prior period. Stocks of finished goods, however, were larger than in either the previous month or the same month of last year. Unfilled orders on the books of cotton finishers at the end of April were lower than at the end of either the previous month or the same month of 1927. THE TEXTILE INDUSTRIES (Relative numbers, monthly average 1923-1925, taken as 100. April, 1928, is latest month plotted. Curves covering imports of wool and exports of cotton are plotted from 12 months' moving monthly averages plotted on the end month] 1923 1923 1923 1924 1925 1926 Raw-cotton exports showed declines from both prior periods, while consumption of cotton by textile mills was likewise smaller than in either the previous month or the same month of last year. Stocks of cotton held at the end of April, both at mills and in public storage, were substantially lower than a year ago. Prices for cotton, both to the producer and at wholesale, averaged higher than in either prior period. Cotton machinery was less active in April, relative to plant capacity, than in either the previous month or April, 1927. The production, new orders and shipments of cotton textiles were lower than in March. Prices of cotton yarns and fabrics showed little change from the previous month but were higher than in April of last year. 106764—28 2 1924 1925 i i i 1 1 11 M 1 1 1 1 1 1 1 M 11 i 1 1 1 1 i t 1 1 1 1 1 1 1923 1924 1925 1926 1927 1928 1928 Imports of raw silk in April were smaller than in March, but larger than a year ago, while for the first four months the total importation also recorded an advance over the same period of 1927. Deliveries of silk to consuming establishments showed declines from both prior periods but for the first four months the total was larger than in the same period of 1927. Stocks of silk were generally larger than a year ago. Prices for silk, averaging higher than in the preceding month, were lower than a year ago. Imports of rayon were smaller than in either the previous month or the same month of last year, while rayon prices showed no change from either period. 10 METALS Iron-ore consumption and stocks in April were smaller than in either the previous month or April a year ago. Fewer pig-iron furnaces were in blast at the end of the month than for either prior period, the ratio of operations to capacit}^ also declining. The production of pig iron in April was smaller than in either the previous month or in April, 1927, the first four months of the year also recording a decline from 1927. Wholesale prices for iron showed practically no change from the previous month but were generally lower than a year ago. larger than a year ago. Both production and new orders for the first four months were smaller than a year ago. New orders for fabricated structural steel showed declines from both prior periods, while shipments in April were greater than in either the previous month or April of last year. For the first four months of the year new orders and shipments of structural steel were larger than in the same period of last year. Production and exports of copper were smaller than in either the previous month or the same month of last year. Stocks of refined copper in North and South America were likewise lower than in either prior THE METAL INDUSTRIES [Relative numbers, monthly average 1923-1925, taken as 100. April, 1928, is latest month plotted. Curve covering zinc stocks is plotted from 12 months' moving monthly averages plotted on the end month] .1 I I Lu 1 I I ! jJ 1923 1924 1925 1926 !927 1928 1923 1923 1924 1925 1926 1927 1928 1923 The output of steel ingots, although lower than in March, was greater than a year ago, both for April and for the first four months. Unfilled steel orders at the end of April were lower than at the end of the previous month but larger than a year ago. The output of steel sheets by independent manufacturers showed a decline from March but was larger than a year ago, while the operating ratio to capacity declined from both periods. Stocks of steel sheets at the end of April were lower than at the end of either the previous month or April, 1927. The output of steel castings registered declines from both the previous month and April of last year, while new orders, declining from the previous month, were 1924 1925 1926 1927 1928 period. Wholesale prices for copper averaged higher than in March, being higher also than a year ago. Imports of tin were larger than in either the previous month or April, 1927. The world visible supply of tin and deliveries to domestic consuming establishments were smaller than in March but greater than a year ago. More zinc retorts were in operation at the end of April than at the end of the preceding month but fewer than a year ago. Zinc production, although lower than in the previous month, was greater than a year ago, while zinc stocks showed gains over both prior periods. Lead production showed declines from both prior periods. Prices of tin, zinc, and lead averaged higher than in March but were lower than a vear ago. 11 FUELS HIDES AND LEATHER The production of bituminous coal was smaller than in either the previous month or April of last year. Prices for bituminous at the mines, showing little change from the previous month, were lower than last year. The production of anthracite coal, although greater than in March, was smaller than a year ago, with the total for the first four months also showing a decline from last year. Prices for anthracite, both at wholesale and retail, averaged lower than in March; but retail prices were slightly higher than in April of last year. The output of coke was smaller than in either the previous month or April, 1927. Coke prices, averaging higher than in the previous month, were considerably lower than a year ago. Imports of hides and skins, although lower than in the previous month, were substantially larger than a year ago, while the production of hides, as reflected by the slaughter of cattle, was smaller than in either prior period. Production of sole leather showed declines from both the previous month and the same month of last year, exports of upper leather being smaller than in either prior periods, with sole-leather exports making similar comparisons. Prices for leather continued to average higher as compared with both the previous month and April of last year. The output of shoes was larger than a year ago, while exports of shoes showed declines from both the previous month and April of last year. THE AUTOMOBILE AND RUBBER INDUSTRIES [Relative numbers, monthly average 1923-1925 taken as 100. Where available, April, 1928, is latest month plotted] 1928 1921 1922 1923 1924 1927 1928 1927 1928 300' . 1921 1922 1923 1924 n i l * id M| 1 1 i, i __ 1925 1926 1927 IS28 1921 1922 PNEUI^ 1ATI ii in h ih nlii JjulLLllllllllllllllllllllllllll 1923 1924 1925 1926 AUTOMOBILES PAPER AND PRINTING The production of automobiles in April was smaller than in March but larger than a year ago, the total for the first four months also showing a gain over the same period of last year. Exports of automobiles were smaller than in either prior period, but for the first four months were greater than in 1927. Shipments of accessories and parts, .both as original equipment and for replacement, were smaller than in March, but larger than in April of last year, while the production of rims showed the same comparisons. The production of newsprint paper showed declines from both the previous month and the corresponding month of 1927, while the Canadian output of newsprint, although lower than in March, was greater than a year ago. For the first four months of the year, domestic production of newsprint was substantially lower, while Canadian production was greater than in the corresponding period of last year. Imports of newsprint declined from March but were considerably larger than a year ago. Imports of wood 12 pulp, both chemical and mechanical, showed declines from both the preceding month and last year, but for the first four months of the year each showed gains over the same period of 1927. BUILDING New contracts awarded for building construction, measured both in floor space and value, showed gains over both the preceding month and April of last year. For the first four months of the year floor space of new awards was 13 per cent larger than a year ago, while, measured in value, new awards showed a gain over the same period of 6 per cent. Building costs in April showed little change from the preceding month but were generally lower than a year ago. Fire losses were smaller than in either the preceding month or April of last year. STONE AND CLAY PRODUCTS The production, shipments, and unfilled orders of face brick were smaller than in April, 1927, with production also declining from March. Stocks were lower than at the end of March but higher than a year ago. Prices for common brick, averaging higher than in March, were lower than a year ago. New orders for terra cotta were smaller than in either the previous month or in April, 1927. New orders for vitreous-china plumbing fixtures declined from March but increased over last year, unfilled orders showing a considerable gain. Production and shipments of Portland cement were greater than in March but smaller than a year ago, while the output of plate glass declined from both prior comparative periods. THE LEATHER INDUSTRIES [Relative numbers, monthly average 1923-1925, taken as 100. Where available, April, 1928, is latest month plotted] 1923 1924 1925 1926 1927 !928 1923 100 ^ 1923 1924 1925 1926 1927 1928 1923 1924 1925 1926 1927 1928 LUMBER AND LUMBER PRODUCTS CHEMICALS The output of lumber was larger than a year ago, most of the principal species showing gains for April and for the first four months. Shipments of Douglas fir and California redwood were lower than last year, while southern pine and California white pine had larger shipments. Lumber prices showed declines from the previous month in hardwoods and gains in softwoods. Prices for both hardwoods and softwoods were generally lower than a year ago. Production and shipments of maple flooring were smaller than a year ago, while for oak flooring these items increased. Imports of nitrate of soda, while smaller than in March, were larger than a year ago, while exports of sulphuric acid and fertilizer showed the reverse situation. Imports of potash were larger than in either prior period. Consumption of fertilizer in Southern States was smaller than a year ago. Exports of vegetables dyes declined from both prior periods, while exports of coal-tar dyes and dyestuffs showed gains. Chemical prices showed no change from either the previous month or April, 1927, while prices for oils and fats, averaging higher than in March, \vere generally lower than a year ago. 13 FOODSTUFFS AND TOBACCO The visible supply of wheat at the end of April was substantially greater than a year ago, as were receipts, while shipments and exports declined. Wholesale prices continued to show gains over both the previous month and the corresponding month of 1927. The visible supply was smaller than a year ago but receipts and shipments were much larger. Corn prices averaged higher than in either peiiod. Total exports of grain declined from both the preceding month and the corresponding period a year ago. Receipts of cattle at primary markets were larger than in either the previous month or April of last year, while slaughter, although larger than in March, was lower than a year ago. Storage holdings and exports The factory output of butter was greater than in March and smaller than a year ago, while butter receipts declined from both periods. Storage holdings of creamery butter were considerably in excess of those held at the end of April, 1927. The wholesale price of butter averaged lower than in either period. Production, stocks, and receipts of cheese were smaller than a year ago. Wholesale prices of cheese, averaging lower than in the previous month, showed practically no change from a year ago. Receipts of eggs were smaller than last year, as were storage holdings. Imports of sugar were larger than in April, 1927, while meltings in April showed declines from both the preceding month and April of last year. Refinery THE FOODSTUFFS INDUSTRIES [Relative numbers, monthly average 1923-1925, taken as 100. April, 1928, is latest month plotted] _ 1923 1924 1923 1925 1926 1927 / 1928 1925 1926 1927 1928 of beef products were lower than a year ago. Wholesale prices of cattle and beef, although generally lower than in the previous month, were considerably higher than in April, 1927. Receipts and slaughter of hogs were greater than a year ago. Storage holdings of pork products were considerably larger than a year ago, while exports were smaller. Prices for hogs and pork products, averaging higher than in March, were generally lower than in April of last year. Receipts and slaughter of sheep and storage holdings of mutton and lamb were greater than a year ago. Prices for sheep and lamb averaged higher than in either the previous month or April of last year. 1923 1924 1925 1926 1927 1928 1924 1925 1926 1927 1928 stocks of raw sugar at the end of April were considerably larger than a year ago. Prices of sugar were generally lower than a year ago. Imports of both coffee and tea were smaller than in either the previous month or April, 1927. The consumption of cigarettes was smaller than in either the previous month or April of last year, but for the four months cigarette consumption was considerably larger than in the same period of 1927. Cigarette exports were considerably larger than in either prior period. Consumption of cigars declined from both periods, with a decline of almost 5 per cent for the first four months. Wholesale prices of leaf tobacco averaged higher than in either period. 14 TRANSPORTATION Carloadings of freight were lower than in April, 1927, all groups declining except grain and grain products. More surplus freight cars were available at the end of April than a year ago. Clearances of vessels engaged in foreign trade showed smaller tonnages than in either the preceding month or a year ago. Merchandise-warehouse space at the end of March was 69 per cent filled as against 70 per cent at the end of February. Interest rates on call loans, time loans, and prime commercial paper averaged higher than in either the previous month or April of last year. Loans to brokers and dealers continued to increase while dividend and interest payments scheduled for May were smaller than a year ago. Business failures showed smaller liabilities than in either the previous month or April, 1927. New sales of ordinary life insurance were smaller than in either prior period. DISTRIBUTION MOVEMENT GOLD, SILVER, FOREIGN EXCHANGE AND TRADE Postal receipts were smaller than in either the preceding month or April of last year, but the total for the first four months showed a gain over 1927. News- Receipts of gold at the mint were smaller than at the end of either the preceding month or April of last year. Imports of gold, although larger than in March, BUSINESS FAILURES [Actual number of failures, by lines, plotted as 12 months' moving monthly averages on the end month] \ GROCERIES AND MEATS __,' _J^x i ^Jr' i ^I l l M l l l l l l l l l l l l l l l l M l . l l M l l l l M 1923 1924 1925 1926 1927 1928 1923 1924 1925 1926 1927 1928 TRADERS M I I I I 1,1 I I I i I I I ! I I I I I I I 1923 1924 1925 1926 1927 1928 paper advertising, although larger than in March, was smaller than a year ago. Sales of mail-order houses and 10-cent chains declined from both periods, due largely to the influence of earlier Easter. BANKING AND FINANCE The volume of check payments, both in and outside of New York City, although smaller than in the previous month, was greater than a year ago. Loans and discounts of Federal reserve member banks showed gains over both periods. Bills discounted by member banks with the Federal reserve banks continued to show gains over both periods. The reserve ratio was lower than in either the preceding month or April of last year. 1923 1924 1925 1926 1927 1928 were considerably smaller than a year ago, but gold exports were almost fifty times as large, making a gold export balance as against an import balance a year earlier. Silver production was smaller than in either prior period. Exchange on the principal foreign countries showed little change from the preceding month, but as compared with a year ago, most currencies were higher, the principal exceptions being Japanese yen and the Canadian dollar. Imports of merchandise into the United States were smaller in value than in either the previous month or April, 1927. Merchandise exports also declined from both the previous month and April, 1927. 15 INDEXES OF BUSINESS The index numbers presented in this table are designed to show the trend in production, prices, trade, etc., by commodities or groups. They consist in general of weighted combinations of series of individual relative numbers; often the individual relative numbers are also given. The function of index and relative numbers is explained on the inside front cover. Many of the index numbers have been reworked to a comparable basis on the average of the years 1923 to 1925, while maxima and minima are given only since 1923, except on this page, thus eliminating the abnormal period prior to 1923. Other index numbers will be revised on the 1923 to 1925 base as soon as the limited printing appropriations will allow their presentation in complete form. | ,! 1928 !!,*7 Maxi- I Mini- ; mum mum since ; since i Jan. 1. Jan. 1, ! Febru1920 • 1920 ary ' March Febru- ; March ary 1 April PER CENT LN'CREASE (+) O K D K f K E A S P J (— ) Apiil, 1D2S. from AJ arch, 1! i\s April April, 1928, from April, 1927 PRODUCTION i (Relative to 1919 monthly average as 100) ; RAW MATERIALS ISO Grand total ; 73 i 108 113 96 108 110 94 - 14. 5 -2.1 134 216 ; 106 70 0 i 134 178 132 73 120 229 -11. 1 + 3. 8 -20. 5 + 26. 7 0. 0 — 1. 4 -13. 3 -4. 7 -4. 3 -15. 0 5.5 + 0. 4 — 6. 7 -2. 1 -40. 0 MINERALS i Total Petroleum Bituminous coal Anthracite coal Iron ore* Copper vyv^oj. Lead Zinc Gold Silver I _ _ ________ _ _ _- -- __ _ _ _ i ! i! 62 105 41 0 0 17 78 38 57 80 137 215 136 80 0 137 171 136 67 105 152 239 155 83 0 137 193 141 75 108 137 230 S9 07 M) 141 190 130 70 100 ; 95 135 230 113 75 () 139 180 148 69 113 138 314 143 177 153 245 390 192 190 80 19 58 64 54 30 21 45 94 118 48 85 101 69 168 80 165 151 119 53 82 84 66 230 71 118 ! 145 113 36 74 141 74 111 105 109 139 121 30 71 124 67 171 92 163 152 117 40 ! 82 ! 93 70 i 194 81 141 146 3 0 \-i £97( . oo + 15. 5 -25. 0 + 4. 5 + 13. 5 ! | 99 36 76 89 66 99 96 112 132 13. 5 -3. 9 -1.7 -13. 2 0. 0 + 10.7 + 6. 1 -15. 7 + 14. 1 + 19.5 + 0.7 246 242 254 405 346 170 49 43 58 50 12 18 i j ! ! 1 | 103 89 119 94 118 100 93 72 155 95 117 61 67 52 150 118 74 23 93 125 148 67 59 62 93 130 156 67 62 25 67 76 124 77 59 16 -28.0 -41.5 -20. 5 + 14. 9 4.8 -36. 0 0.0 + 46.2 -17.3 -34.7 -20. 3 30. 4 136 137 164 356 149 61 59 51 20 ! 24 103 107 90 42 100 112 115 108 66 110 115 1 110 ! 129 189 101 104 109 113 117 111 42 105 114 113 120 129 93 138 142 135 133 152 166 115 127 211 190 195 147 164 71 68 77 54 32 57 63 69 92 69 71 , 70 37 . 129 119 94 113 126 127 86 106 176 90 150 107 126 136 141 110 133 150 138 98 116 190 138 170 127 159 135 135 108 115 138 129 92 113 183 144 166 1 120 ! 161 | i 130 125 119 112 133 130 91 98 176 99 144 116 127 133 139 128 112 152 141 99 105 185 117 163 128 156 139 133 115 ! 99 i 144 139 86 103 196 i: 130 157 115 155 83 ; 95 o 137 156 141 ! 60 96 o q -17.9 + 3.7 — 5. 7 /j n 1NIMAL PRODUCTS (marketings) Total ! 105 256 155 122 273 152 193 149 131 145 Wool* -_ Cattle and calves Hogs _ Sheep Eggs* Poultry Fish Milk (New York) _ --- - -- - -. CROPS (marketings) Total Grains* Vegetables* _ « Fruits* .-_ Cotton products* Miscellaneous crops* ! ! ! 1 ! i 1 FOREST PRODUCTS Total Lumber Pulp wood Gum (rosin and turpentine) * Distilled wood „ ._ O Q _ _ ; 9322 + 0.9 -3.4 + 8. 1 + 207. 1 -11. 4 -0.9 + 2.7 -7. 0 -31.7 -7.9 + 4.5 -4.3 -10.2 + 3.0 -1.5 + 6. 5 — 13. 9 + 4.3 + 7. 8 6. 5 8. 8 + 7. 1 -5. 6 -5. 4 4. 2 -3.7 MANUFACTURING ' i 1 Grand total (adjusted for working davs) Grand total (unadjusted).. Foodstuffs Textiles _ _ _ Iron and steel Lumber Leather Paper and printing Chemicals, oils, etc Stone and clav products Metals, excepting iron and steel Tobacco Miscellaneous _ _ _ _ _ _ _ Fluctuations between maximum and minimum due largely to seasonal conditions. -11.6 5. 3 -1. 4 -13.1 -1. 9 +5. 9 +16.2 -3.7 -10.2 -0. 6 16 INDEXES OF BUSINESS—Continued Minimum since Jan. 1, 1923 February March 153 222 170 119 139 84 72 71 84 73 143 178 156 84 127 136 161 153 86 125 PEE CENT INCREASE (+) OB DECREASE (— ) 1928 1927 Maximum since Jan. 1, 1923 April February March 144 168 159 96 135 137 157 145 100 130 150 189 149 i 97 | 136 148 198 131 97 133 April April, 1928, from April, 1927 April, 1928, from March, 1928 STOCKS (Relative to 1923-1925 monthly average as 100) (Corrected for seasonal variation) Total Raw foodstuffs Raw materials for manufacture Manufactured foodstuffs Other manufactured commodities 129 140 148 93 123 i (Unadjusted index) Total Raw foodstuffs Raw materials for manufacture Manufactured foodstuffs Other manufactured commodities 150 198 196 132 136 77 60 64 79 74 J 147 193 153 85 128 146 198 138 84 i 128 132 166 123 84 126 (Relative to 1923-1625 monthly average as 100) Total Textiles Iron and steel Vehicles Lumber WHOLESALE TRADE 157 154 157 204 142 67 62 66 53 56 82 91 76 91 80 81 89 76 86 79 124 82 86 87 71 43 26 68 82 88 72 91 81 107 88 128 95 85 82 94 96 103 94 104 95 144 108 111 102 117 100 -0.7 + 2.5 | -9. 0 + 3. 0 — 1. 5 + 5.4 + 15.0 -10. 8 + 10.8 + 4. 1 -5.4 ! — 7. 6 -10. 7 i -3. 1 ! -2. 3 + 6.1 + 10.2 -4. 9 + 11. 9 + 3.2 i li 1 I' | !i i UNFILLED ORDERS 136 161 132 ! 103 I 128 I j 140 183 117 94 130 ! 77 88 73 ] 74 | 76 82 81 90 64 76 80 75 90 62 72 74 73 79 56 70 -7.5 -2. 7 -12. 2 -9. 7 -2. 8 -3. 9 -17. 0 + 8. 2 -24. 3 -7.9 93 85 108 89 128 88 87 82 101 95 99 95 105 87 131 89 110 95 120 107 86 88 105 1 70 75 53 99 89 112 88 -13.1 -7. 4 0.0 -19. 5 -42.7 -40.4 -10.0 -6.3 -6.7 -17.8 -4.4 -2.2 + 1.0 -7.9 -14. 8 -17. 2 -1.0 -7. 3 + 3.7 -8.3 -8.0 -4.2 (Relative to 1923-1925 monthly average as 100) Grand total all classes Groceries M^eats Dry goods Men's clothing Women's clothing Boots and shoes Hardware Drugs Furniture RETAIL TRADE 119 125 128 167 188 128 118 125 129 90 90 104 76 88 64 100 96 108 96 I (Relative to 1923-1925 monthly average as 100) MAIL-ORDER HOUSES (4 houses) f CHAIN STORES :f Ten-cent Grocery ^Vearing apparel Drug C/ierar Candy Shoe DEPARTMENT STORES: * Sales Stocks EMPLOYMENT 156 64 101 125 120 108 125 115 250 224 350 169 160 161 163 62 77 47 82 79 70 55 104 148 114 129 99 103 84 116 135 174 172 148 ! 199 143 144 111 113 115 136 96 150 115 193 137 148 96 106 86 133 224 200 163 107 119 117 135 202 195 154 100 130 130 186 117 71 83 83 97 103 103 102 104 109 112 114 114 107 112 106 111 107 90 90 85 87 80 88 97 88 85 97 92 97 99 87 98 104 105 93 97 91 97 99 86 97 104 110 97 97 90 96 98 86 93 103 110 98 91 92 94 89 80 93 103 98 86 92 92 94 91 82 93 102 105 89 110 108 110 115 87 82 82 86 96 88 92 110 98 88 93 110 97 86 93 109 90 85 89 94 92 86 91 93 100 106 85 96 111 106 i i 0. 0 + 1. 5 + 17.4 -9. 8 -2. 5 -2,0 + 6. 9 -5.5 -6. 5 -11. 5 + 9.2 -4. 4 + 11. 1 -13.3 -1. 0 1 -8. 1 + 1.0 -1. 9 91 90 91 91 83 88 101 105 91 —1 1 —2 2 -3.2 0. 0 + 1.2 -5.4 -1.0 0.0 + 2. 2 —6 2 0.0 -5.2 -7. 1 -3.5 -5.4 —1 9 -4. 5 -7. 1 94 84 93 94 + 2.2 -2. 3 + 2. 2 + 1. 1 -3. 1 -2.3 0.0 -13. 8 (Relative to 1923-1925 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 Metal products other than iron and steel Tobacco products Vehicles * Miscellaneous f See table pp. 20 and 21 of the May, 1928, issue for earlier data. ! i ! | i I j * See tables on pp. 20 and 21 of the April, 1928, issue for earlier data. 17 INDEXES OF BUSINESS—Continued Maximum since Jan. 1, 1923 Minimum since Jan. 1, 1923 F PER CENT INCREASE (+) OR DECREASE (~) 1928 1937 April, 1928, from March, 1928 April, 1928, from April, 1927 Jf- March April February March 102 95 102 10-t 91 100 111 110 97 99 84 95 115 103 94 102 106 92 97 111 ! 114 1 101 ! 102 ! 85 ! 98 s 117 102 93 97 104 91 91 110 114 104 95 82 100 119 95 97 96 95 84 93 110 102 88 93 83 94 97 96 96 94 97 87 92 110 107 91 94 84 98 97 95 92 87 97 88 80 110 107 94 ! 95 78 100 1 99 '• 135 128 1 K9 153 139 144 141 90 137 136 1 7/1 174 139 137 147 i 89 140 -1-2.2 ! 144 + 5. 9 | +21.0 o n 1 o8 +I 021. +i 2.9 + 2. 2 -0.7 + 0. 8 -2. 2 + 52. 5 + 4.8 + 6. 3 -4. 5 96 105 99 97 81 98 91 96 98 87 96 104 98 124 97 81 98 91 96 98 87 97 108 100 127 97 81 98 93 96 98 85 97 95 99 94 98 95 98 94 April EMPLOYMENT— Continued (Relative to 1923-1925 monthly average as 100) Amount of pay roll, by industries: 111 Total, all classes Food products 108 Textiles 115 Iron and steel 117 Lumber _ __ > 107 Leather „_ _ 117 Paper and printing 114 114 Chemicals Stone, clav, and glass 111 Metal products other than iron and steel- 114 Tobacco products 111 114 Vehicles Miscellaneous i 119 1 85 90 78 79 84 84 94 89 84 81 81 73 86 i —1.0 — 4. 2 — 7. 4 0. 0 +1.1 —13.0 0. 0 0 0 +3. 3 + 1. 1 — 7. 1 +2 0 +2. 1 -6.9 — 1. 1 -10. 3 — 6. 7 — 3. 3 12. 1 0. 0 — 6. 1 -9. 6 0.0 -4. 9 0. 0 — 16. 8 PRICE INDEX NUMBERS FARM PRICES 1 I (Relative to 1909-1914 average as 100) \ \ All groups Grains Fruits and vegetables Meat animals Dairy and poultry Cotton and cottonseed Unclassified 1«2 178 154 166 252 108 125 108 1 HQ 108 98 122 81 79 105 114 106 127 114 112 113 116 104 111 127 94 94 85 98 94 84 97 90 95 98 87 96 95 96 100 95 96 98 96 98 98 91 95 94 95 101 94 90 98 95 97 98 91 94 94 95 102 94 85 98 95 98 98 < 91 128 103 109 106 96 93 93 93 97 96 96 96 97 95 94 95 96 94 93 94 OKQ 1 iO 142 143 143 94 84 140 144 133 102 81 125 119 1 .17 147 143 133 101 80 127 122 i 126 121 1 1A 179 142 134 154 85 1 7O 4-12. ft WHOLESALE PRICES ueparimenc 01 iua»or mciexes (Relative to 1926 monthly average as 100) All commodities i : ! : i Farm products Food, etc _ __ Hides and leather products Textile products Fuel and lighting. Metals and metal products Building materials Chemicals House-furnishing goods Miscellaneous. _ _ Classified by state of manufacture: Semimanufactured articles! Finished productsf Raw materials f Nonagricultural commodities 194 Commercial Indexes i i 106 112 Dun's COST OF LIVING National Industrial Conference Board Indexes (Relative to July, 1914) All items weighted Food (Dept. Labor) Shelter Clothing Fuel and light (combined). Fuel Light Sundries t See table on p. 23 of this issue for earlier date. 106764—28 3 : i 98 1 96 100 i 95 + 1. 0 +3 8 +2 0 +2. 4 0 0 0 0 0 0 +22 0 0 0 0 — 2. 3 + 3. 2 + 14 9 + 5. 3 + 24. 5 +32 4 7 0. 0 —2 1 —2 0 0 0 — 6. 6 0 0 +1 1 +2 0 + 1*1 +21 +2 1 +75 +11 +1 9 0 0 +93 +83 0.0 +0. 7 — 1.8 — 1. 3 —4 7 —0 6 —0 6 — 1. 1 0 0 —1 2 1 (Relative to 1926 monthly average as 100) Bradstreet's < i ! 85 95 97 97 97 97 97 96 103 103 104 104 106 1 104 i l 172 167 186 177 179 208 123 176 158 141 163 160 156 174 118 171 1G5 156 172 172 167 190 121 174 164 154 172 172 166 189 122 173 164 154 171 172 161 181 122 173 162 152 165 171 163 184 122 172 161 151 165 173 163 184 122 171 161 152 ! 163 1 171 160 179 122 i 171 —1 —1 — 1. — 2. 2 2 8 7 o o 0 0 18 RELATIVE DEBITS TO INDIVIDUAL ACCOUNTS AT CLEARING-HOUSE CENTERS GROUPED BY FEDERAL RESERVE DISTRICTS [Table continued on p, 19] YEAR AND MONTH BOSTON DISTRICT U. S. TOTAL 141 Total, CENProviBoston Hart11 TERS centers ford dence 1919 av. mills, dolls 1919 monthly 1920 monthly 1921 monthly 1922 monthly 1923 monthly 1924 monthly 1925 monthly 1926 monthly 1927 monthly 1926 January February March April May June July Augu st September October November December 1937 January February March April May June July August September _ _ October 37, 446 1,769 1,245 | 100.0 106.0 88.7 97.8 103. 2 109.5 126. 8 135. 3 150.0 100.0 109.2 102.4 105.5 117. 1 120.9 136. 7 146. 1 158. 1 100.0 105.9 i 106. 7 109.3 1 120.2 125.6 143.9 157.0 168. 9 144.6 120.0 150.8 138.5 123.3 135.3 ; 136. 1 !! 125.6 125.4 140.3 126.6 152.4 159.1 123.0 147.4 151. 9 144.3 147. 6 149.5 124.9 128. 1 167. 9 150.8 158.8 169.6 130. 1 156.9 164.9 155.8 158.8 146. 1 128.8 156. 3 148. 5 144.6 151.8 143.4 143. 5 151. 6 158.1 152 5 174. 8 168, 0 14.5. 6 188.7 178. 6 average _ average. average. average. average . average. average. average. average . December 1988 January February Ma'-ch April May. _ June _ - - -_ __ _ _ 92 ; 144 NEW YORK DISTRICT New Haven : PHILADELPHIA DISTRICT T 8 °7a1' Albany Buffalo^ ' few | ™*> ! Phila- Scrancenters j ter | *ork i centers delphia ton 20,917 ; 72 ' 87 ! ! 263 120 1919 av mills dolls Ap*' '! 116. 4 143.0 138. 1 127.9 13o 1 139 o IB 8 U- 9 1 13 6 ^'J 7 i;3 9 159.6 135.7 162. 9 159. 6 154.0 161. 0 152.5 137.2 148. 2 174. 3 170 7 181.8 174.1 147. 1 177. 3 170.8 165. 8 171. 5 1*50. 1 142.1 156. 0 186. 0 183 6 192. 9 168. 5 145.7 177. 2 189.1 180.4 219.6 222. 8 207. 6 '• 216.3 226. 1 210.9 206. 3 114. 6 101.4 113. 9 117.3 111. 1 112.5 107. 6 100. 0 102. S 122. 9 124.3 130. 5 j 147. 2 120.8 151. 4 151.4 141.7 145.8 152. 8 138. 8 151.4 166. 7 148.6 100. 7 153.4 134.7 169. 1 157. 3 153.6 162. 0 151.2 155.1 163.6 167.3 163.0 190.7 133.3 151.7 219. 5 197. 6 156.3. 143.6 ! 163.2 ; 147.1 162.0 143.0 i 114.8 ; 130. 8 1 139. 5 ! 135.0! 144. 5 i 146.0 | 133.5' 147.5 151.7 ; 139.5 ' 101. 6 152.5 1 131.7 i 163. 3 , 163. 3 ! 136.7; 164. 2 ; 152.5 i 139.2; 150.0 162.5 137.5 173. 3 153 ' 1 ',4 8 1< ') 5 157. 3 1 >3 0 1 >2 2 151 1 r,~ 5 It 3 9 l',7 5 L>3 5 191.3 176. 8 135, 7 167. 3 169. 3 186. 4 139.2 176. 1 179.3 258. 7 206. 5 150. 0 ! 110. 0 ! 159. 7 1-13. 1 243.5 122.9 ! 165.3 257. 6 125. 7 ! 161. 1 18 i 5 160. 3 ' 218. 7 i 201.0 i 137 9 100. 9 2,-o. 1 162.0 K4 6 131.5 US. 7 154.0 ICO 0 125.8 150. 0 159.2 1* > 1 1» 0 * 220. 0 ^0) 3 i ! ! 161.7 : 1 ! i i 1 i 1; !: i i New Orleans 215. 3 262. 7 254 3 239. 0 223. 7 515. 8 217.0 239. 0 206. 1 240. 7 259. 3 113. 1 129. 2 1'32. 7 127. S : i . _ _ 131.7 115.8 126. 3 123. 1 1 1 6. 6 . . ! 115.9 116.4 i 113.9 ... 130. S 137.7 121. 4 136. S 127. f 112.4 1 • See footnotes on p. 20. 127. C 118. £ A} 1 121. 9 162.2 144. 0 130.5 i3S 5 135 9 12s 9 1J5 9 141 3 i20 7 loO 1 KK y i 92 124. 4 1 113.3 193 2 i 142 0 • 118.7 ; 135. 6 1 ^'A > I/: 7 157. 4 1"5 3 132.3 ' 136.4 ! 182.5 ; 163. 1 171. 3 i | i j ! ' . i i '< ; si'l 121. 1 5 145 ° l_b -} 119. 1 149. 1 141.3 145 3 13". o 134. 0 104 2 i:4. 7 141.5 149. 1 139. 2 i 129. 2 146.7 144. 2 135.5 160.0 154.2 127.5 138.3 162. 5 135 8 162.5 190.0 lir..4 82.2 S9. 5 97.4 1UO. 4 US. 1: 113. 7 11-i.S 133 7 141. 7 ' 150.0" 120. 5 135.7 138. 0 126.6 148.3 155.5 127.7 126.6 141. 1 1*?7 4 141.1 100.0 12s. 8 103. 4 133.9 1 *3. 1 1W.3 ' 142 3 ! 124 ^ 14u 7 140. 0 13-^5 141 2 13o 1 US 4 13' 8 144 S 13M 4 159.8 159.2! 147. 1 171.2 170. 1 197.6 150.5 171.2 131.0 127.5 147. 1 139 0 152,8 100. 0 108.9 S5. 4 90. 2 Mpy Ji'Ti'e July August September October November December 1927 January February March April May June Julv August September October November December 1928 January February March " April May June 169. 8 169. 8 169. 8 158. 2 102 8 142.5 154.7: 122. 1 161.7 144. 0 130.9 139.0 136.6 128.9 126.1 141. 5 127 0 159.9 100. 0 1 132. 1 103. 8 152 8 147.2 137.8 145. 3 149. 1 115.3 150.2 304 i 139.0 116.2 141.4 136.6 126. 4 135. 0 137. 8 115 y 120 t141 1 1J8 7 1^3 0 145.8 119.5 148.6 138.9 136. 1 138. 9 147.2 134. 7 134. 7 145.8 134.7 150. 0 59 120 5 141.4 100. 0 125. 6 111. 6 118.6 137.2 146. 5 159. 6 168. 5 175. 6 ! ! | 1 ! i ! 1 ! i | i 123 11-1 9 ' Februarv Mprc'h " 1 43 100.0 124.5 122.7 109.4 139. 6 142.3 138. 9 144. 2 145. 5 131.2 99.3 111.1 111.8 109. 7 109. 0 112.5 93. 0 99. 3 146.5 113.9 122. 9 i 92,8 115.1 84. 2 S!). 0 10!J. 0 105. 3 125. 0 12S. 1 123. 9 53 100.0 i 112.4 i 93.8 101.7 111.9 114.3 128. 1 133.1 138.6 175.0 142.4 166.3 156.5 151. 1 163. 1 162.0 137. 0 132. 6 144.6 138.0 158. 7 ! Total, BirAtlanta m ing| 15 ham ! centers 1919 monthly average. 1920 monthly aver; ge. _ ! 1921 monthly aver; ge. _ i 1922 monthly aver; ge_ 1923 monthly aver; j>e_ 1924 monthly average. . i 1925 monthly aver; ye . 1926 monthly avert ge_ 1927 monthly aver; ge_ i 1926 1,373 100.0 i 113.3 95.8 102.5 i 114.3 116.8 129.5 134.6 140.0 100.0 99.4 85.2 98.4 98.2 108.3 12S. 7 139.0 100.1 ! ! i j i , | i | i i : ! 205.7 170. 1 108.9 j ! , i ; I \ ; [ i i ! | i i i i 1 39 S 122. 8 161.0 128. 5 125 2 127. 6 115.4 126. 0 142. 3 127. 6 146. 3 1 i : ! ! i ! | ! 93 37 100.0 100.0 120.4 1',". 4 71.0 7x " "XL: <~. t, ^''. 7 l »7. C- 131 ° 103.3 119. 1 123 7 103.0 101.9 110.8 , 102.0 109.5 134.5 98. 7 123.0 28" •" ; 254.1 275.0 ' 247 9 235.4 : 225.0 ! 218.7 . 206.2 ; 195.8 222.9 : 193. 7 ! 229.1 88 2 87. 1 103.2 9° 5 S4. 9 89.2 92.5 84.9 83.9 95.7 84.9 89.2 8*J 5 67.6 7>. 4 70.3 (>7. 6 56. S 62.2 56. 8 86.5 89.2 70.3 78.4 119.1 216.6 94.fi 195.8 : 89.2 222.9 206.2 98.9 92.5 70.3 64.9 70. 3 70. 3 70.3 64.9 64.9 64.9 100.0 97.3 73.0 86.5 264. 4 222. 0 242. 4 244.1 235. 6 239. 0 240 7 278. 0 300. 0 257. 6 272. 9 108.2 114.8 111.5 99.7 103.3 103.6 105.2 127. 9 130.6 116.1 137.5 130. 1 123. 0 135. 0 126. 0 271.2 225. 4 245. S 240,7 123.0 103.6 115.4 106. 6 : Au- j T<^!' »"sta !| centers 100.0 : 125.0 : 1)1. 7 97.9 112.5 126.5 206.2 232. 6 1M.O 134.1 119. 5 i 134.1 128. 5 124.4 118.7 123.6 115.4 130. 1 146. 3 121.1 137. 4 245.8 48 ! 1 ! ! ' ' i : , : 110. ,s 64. 9 70.3 .V-. ^> 102.1 97.8 116.1 104. 3 ! 74.6 7V1? ~j. o 7-^.s ; 183.3 92.5 i 177.1 98.9 i 164.6 102.1 156.2 93.5 154. 1 94. 6 160.4 110.7 160.4 96.8 181.2 106.4 164.6 166.6 175.0 158. 3 1 i i ! 1 !' i ' : 1:1 o 140 i3* 137 140 133 120 133 141 1^ I'.j S 2 4 i 7 9 5 9 7 3 3 174^ 5 14S. 9 15-. 2 172. 1 15s J 211. 7 n.o lor,, i 143 4 156. 6 172 1 ISM 1 1*, 7. ." lor. i 172. 1 li >2. ^> li'7 7 15S 2 1 .7. 5 176. , 1(»7. 5 214.0 137. S 128. 3 217.0 141.5 195. i l'J5. 4 Des Grand Moines Rapids Sioux City 154 5 YJ~> 5 107. 5 CHICAGO DISTRICT Jack- Nas}3, son- ^Vffj j vme ville ! i i! ATLANTA DISTRICT YEAR AND MONTH 1,625 100.0 118.1 98.6 104. 2 122. 2 125.8 134.6 139.6 148.6 ! i 100.0 98.8 84. 8 98.2 97.6 107.9 128.3 138.8 160.3 !; ! ! \ i 1 100.0 118.7 ; 93.0 95. 1 i 105. 5 ; 104.4 i 114.9 113.4 I 113.2 i : 100.0 119.2 103.3 110.0 124.2 129.0 144.3 146.3 152.2 20,354 j 100.0 117.4 98.9 103. 3 119. 6 131.3 141.7 152.3 202.5 j 100.0 100.0 111.5 114.8 119.5 92.8 i 119.5 99.6 118.3 114.8 ; 134.8 '• 115.0 ! 147.7 133.3 154.0 136.9 ; 168.3 ; 140.6 \ Trenton : i : • i : ! : i ! i : i i s ; ! i ! ! ! 83.8 ; 78.4 : 81.1 ! 75.7 ; Chi- Be»° j troit Indian- ca ™k^~ apolis 4,242 2.800 i 237 83 75 10U.O 100.0 luO.O 100.0 100.0 100. 0 110.0 02. 0 96. s 10S. S : lli». s . 124. '.» 132.0 1.37.9: .ID ) t» 1 ) IIK U +2~ i3 0 7 _> 0 123. 5 100. 0 , 104.4 115.4 124.0 97. 5 101. 7 115.6 110. 5 119.4 127.3 13d! 114.5 84.4 s I -L T 2 <1 _ oi 3 2 7 1 0 I 1^3 1 ( 4 if_s 1GO.O 128.0 ioy.3 137 9 118.6 142. 7 133.0 129.9 135.1 136.2 128. 0 122.8 1:33.5 123.2 143.4 a3 11 139 12b i-4 12-s TJ1 1.3 lit 12< 1H> 14J 2 9 2 J 6 7 4 3 3 9 o 3 ^ 7 4 ' .i h I 177 5 ! 1~7 4 ' 10 « , i~s j '• 1 "1 <i ' If 7 1 ; n9 s ! 1"0 9 j 1 0 , ! 1 o 3 \ 137 5 119.1 135.3 130.1 133.1 152.2 150.0 128.7 127.9 136.0 128.7 143.4 130 8 117.3 142.2 121.1 125.7 126.6 128.3 119.8 121.5 137.1 1'24. 9 132.1 i ! ; • : i ' i i : ! i } -r 525 136 ' 110.9 : llo. 4 135.2 136.2 ! ; ! ! ! i i i ! | 89. 8 98. 1 98.9 XI. x 89. 3 89. 114.1 111' 7 100. 0 83. 1 104. 8 100. 0 98.8 97. 6 96. 4 88. 0 96. 4 102. 4 96. 4 113. 3 122. 6 101. 3 121.3 121.3 112.0 114.6 11 ~" 3 112.0 112.0 122.6 106. G 122.6 147. 0 125.4 153.9 131.7 125. 4 130. 5 131 . 7 131 n ' llo 2 1 13^ " 130 4 1 1 1 2 | 14i 1 i 130 4 ' 136 2 1 13" 3 1424 13- Q 1 ") 1 ' 1 1 0 i 134 1 ! Ij2 s ! 1*3 6 i 1 7 4 i 17' 2 172 ^ ! 1 »>4 0 i 10 2 1704 i 1U 4 Is 7 i 141.9 132.5 136.0 126.1 138.2 140.5 133.8 128.3 137.5 131.6 137.5 123.7 141.2 126.6 128. 7 125. 7 130.1 124.5 135.3 133.3 134.6 127.0 139.7 135.9 95.2 84.4 109. 7 98.8 102.4 108.5 96. 4 89. 2 97.6 101.2 98. 8 104. 8 118.6 97.3 114.6 112.0 112.0 113.3 110.6 10S.O 106. 6 10S. 0 104. 0 118. 6 148. 0 128.7 157.6 155.1 149.3 | 126 6 TO 9 1 s 9 178.1 ; 160 S | 197 9 ; 140' 138.2 136.0 146.3 131.6 97.6 86.8 106.0 102.4 112.0 98.6 114.6 106.6 133.3 120.7 138.0 129.5 r::<. i 110.3 134.4 | 118.6 i 139.7 ! 137.9 j 140.4 | 142.8 1 134.8 ; 136.7 i 1 38. 0 i 142.6 ; 135.0 i 153.6 ! i : i 03 100. 0 109. :. 03. "> I'll... 119.1- : 119.0 117.4 131. 7 104.7 123. 8 i 1 1 ! ! i ; ! 130. 1 114.3 130. 5 117.4 ni.i 117.4 114.3 111.1 112.7 128. 5 65.2 87.3 84. 1 87. 3 ; 101. 6 88.9 19 RELATIVE DEBITS TO INDIVIDUAL ACCOUNTS AT CLEARING-HOUSE CENTERS—Continued GROUPED BY FEDERAL RESERVE DISTRICTS [Table continued on p. SO] CLEVELAND DISTRICT YEAR AND MONTH i i: i | Total, 13 centers 1919 average millions of dollars 1, 963 1919 monthly average. . 1920 monthly average 1921 monthly average . 1922 monthly average. . 1923 monthly average . 1924 monthly average. . 1925 monthly average 1926 monthly average. . 1927 monthly average. . 1926 Januarv February. ._ March April.. Mav June Julv.. August September October >Novembo Docem ber 192? Januarv . ... . February March 100.0 116. 4 89.6 94.6 110. 9 109.4 122 0 127.4 136. 6 137.9 109.9 126. 0 129. 4 119.2 130. 1 136. 1 120.2 i Mav i Juno i Julv Yugust September .. . October November December 1928 January February.. . _. March \pril May June YEAR AND MONTH Cleve- Pitts- Y'ngsland burgh i town Akron Cincinnati 90 1 Baltimore Norfolk Rich- Charlesmond ton 37 116 ! 116 718 404 84 116 100.0 118.5 94.9 97.2 112.7 113.2 126.4 126.7 137. 1 | 100.0 ; 110.0 i 78.3 83.3 ! 103.4 ! 101.6 j 117.0 ! 118.0 ': 118. 5 100.0 1 117.2 i 102. 6 132.8 153. 5 '• 155. 7 179.2 189.5 205. 2 100. 0 111.2 102.6 112.1 128. 5 116.0 126. 9 138. 3 144.8 100.0 104.0 110.0 112.0 ! 138. 0 136. 0 ' 156. 0 176.5 188. 8 i 100. 0 111.8 95. 5 89.6 98.6 96.3 106. 7 108. 4 107. 1 100.0 115.6 104.9 89.1 93.3 93.4 104.6 107.4 104.2 100.0 102.3 71.4 78.5 88.1 82.2 85.8 94 2 89.0 100.0 107.8 98.3 100. 9 112.9 109.1 122.4 121.5 123.0 100.0 102.7 67.6 67.6 78.4 69.4 73.0 76.2 75.0 ! 126. 3 90.6 109.8 123.2 105.0 115.0 126. 0 108.5 110. 4 127.5 112. 8 136. 0 136. 8 117.7 130.0 123.3 119.7 134.5 131.3 116.3 119.7 133.2 121.7 135. 7 ! ! i ! : 123. -i 96.7 108.4 121.7 113.4 111.7 131.7 120.0 121.7 126.7 108.4 131. 7 200.9 169. 0 182.8 185. 4 ISO. 2 194. 0 208. 6 197. 4 1x7. 1 1S7. 9 172. 4 OK o 146.6 111.2 127.6 151.7 135. 3 144.0 1 19. 1 134. 5 131.9 141.4 131. 9 154.3 188.0 146. 0 182.0 176. 0 160. 0 172. 0 210.0 166.0 176. 0 182.0 164. 0 196.0 115. 1 100.7 111.4 107.7 101. 1 110.0 117.4 96.0 100.7 115. 1 102. 1 121. 9 112.4 98.8 112.4 111.1 102.7 113. 1 122.8 96.0 94.1 107.7 98. 0 119. 3 96.4 89.9 94.0 92.8 88.1 95.2 97.6 85. 7 88. 1 101. 2 96. 4 114. 2 135.3 113.8 123.3 112.1 106. 0 111.2 127. 6 106. 0 125. 9 139. 7 119.0 137. 9 78.4 70.3 78.4 73.0 70.3 75. 7 62.2 64.9 78.4 113.5 73.0 167. 6 136. 0 162. 8 181 4 158. 7 168.0 176. 5 163. 2 163.2 170. 9 159. 9 197. 6 130. 6 107.8 117.1 0 13 7 116. 7 131. 2 131.4 115. 1 122. 3 133. 8 1 14. 1 147. 6 142.0 137.5 141. 1 154.6 132.7 169.8 141.4 120.6 120.3 126.2 121.9 136.5 131.7 10rj.4 118. 4 118.4 113.4 1210 131.7 111.7 113.4 120.0 llx 4 111.7 204.3 159. 5 210. 4 219. S 209.5 J05. 2 19S. 3 l'J9. 1 195. 7 194. 0 20X. 6 2,u . 8 162. 1 123. 3 Io7. 9 1 ~>j. 9 141.4 1 45. 7 142 2 i:'S. 8 141.4 147.4 135.3 lt>5. 5 202.0 162. 0 196. 0 200. 0 192. 0 202 0 200.0 178. 0 184. 0 182.0 164.0 204. 0 111.6 93. 6 106. 1 105. 6 99. 7 lOfi. 7 102. 9 104. 2 105. 9 117.8 111.0 120.6 109. 1 90. 1 104.4 102. 7 95. 5 104. 4 103. 0 104. 9 103. 5 114. 3 102. 2 116. 1 96. 4 82. 1 88. 1 86.9 89.3 90. 4 86. 9 82.1 78. 5 92. 8 96.4 97.6 131. 9 107.8 114. 7 1 18. 1 109. 5 115. 5 111.2 115. 5 128. 5 137.1 143. 1 143. 1 67.6 73.0 81. 1 ! 81. 1 73.0 75. 7 67. 6 67. 6 78.4 83.8 201. 2 171. 3 175. 3 192 7 136. 6 110.5 120. 9 1°8 1 133.5 ! 117.9 ! 129.6 : 118.4 100. 0 111.7 133 3 : 1°1 7 237. 198. 238. 24° 150. 127. 150. 154. 202.0 164. 0 214. 0 190.0 108. 7 95.0 109. 4 105. 7 105. 2 92.1 106. 4 102. 2 84. 5 76.2 83.3 84. 5 130.2 110.3 ! 123. 3 : 110.3 73. 0 : 67. 6 75. 7 73.0 653 100.0 115.6 63.3 63. 3 80.0 81.4 100.0 104.5 112.9 ! 100.0 113.0 107.7 117.4 133. 6 128.0 142.7 150. 3 167. 2 100.0 115. 9 81.9 84.1 99.2 96.8 106.6 115.9 124.9 134. 4 121. 6 141.9 111. 1 86.7 111. 1 112.2 101. 1 105. 5 107. 8 97.8 110.0 107. 8 • 95.5 107. 8 175.7 138. 9 153. 5 159. 5 139.7 143. 3 153. 9 132. 8 130. 8 154. 3 150. 6 170. 9 141. 9 124. 3 135 4 147 6 131.9 152. 1 141.4 125 8 128. 4 134 8 125.6 150. 0 97.8 86.7 104. 4 : 118 9 114.4 : 121. 1 ! 128. 9 113. 3 120.0 ! 117.8 104.4 126. 7 142.4 121.0 135.0 139 7 117. 8 ! 107.8 ! 113.3 130 0 .. .! DALLAS DISTRICT Houston Total, 7 centers DayToledo Columbus i ton 60 247 Total, Dallas 11 centers RICHMOND DISTRICT 746 ! i ! ! ! ! : ! ! ! ' ' ! ! ! ; j | 9 3 8 3 7 6 9 3 ST. LOUIS DISTRICT SumSt. mary Louis- ! for 5 vtile Louis centers Fort Worth Memphis 50 ; Little Rock ! ! ! • i MINNEAPOLIS DISTRICT centers Duluth Minneapolis st. Paul ! Ile!ena BTC ! 1• 9 * "nhiO^ 1 ' 9 T nombl i"5 <?' ve 920 moii ii u t i i e 1 21 Uzonthl a\n ige 1922 m )i thi a \ e i sP 19_ 110 thl u e ige 1 1 L?n ii m i M ni v C uf 1 »27 mo i hi* \ u i o 193U January Fcbruarv March \p-il February MarHi 161 138 92 i«: r*» M- 130 36 659 90 354 162 11 ! 100.0 100. 0 100.0 119.6 109.8 119.6 93 5 78.0 82.4 100.0 10" 4 SO ) 100.0 U -> »2 0 *7 x ICi 9 kV 12u X 100.0 10) -, 1 > 9 2 0^ 4 10s 2 '0 x 100. 0 107. 4 100. 0 125. 0 1U 7 127. 8 169.5 100. 0 IDS. 5 1 00. 0 1 20. 0 :~4. 4 s2. 2 85. 5 117.7 US. 2 100,0 109. 6 S4. 2 85. 0 100,0 98.2 75. 3 97. 5 106. 8 101.6 Ii.S4. 7 102. 2 100.0 ! 109.0 100.0 , 90. 9 S I . 's ! X". «, X... r , ^-.1.3 78.9 f;4. 4 80.0 73.3 101. 1 9(1 0 N). 0 110.5 95. 2 109. 9 105.6 97. 5 si.x (,r. 7 '<!. x 77. ^ 107.' 8 llx. 9 120.9 1104 119.8 -!.s () /. 9 190.0 °0 9 77. ^ xx. 9 1.33.3 !• ' 1 ... _ .. . . ... . . Mav June.- -. ... . J See footnotes on p. 20. 114.3 90. 7 96.9 107. 5 So'. 2 81.2 89. 0 91.2 103. 6 126.0 131.9 103. 2 ! 157.8 129. 2 134. 2 119.3 112.4 117.4 121.7 112.4 139.7 150 3 137. 3 146.6 110. 1 103.6 123. 2 120'. 3 108.7 115. 2 121.7 121.0 148. 5 155. 8 132. 6 151.4 92.4 80.4 87.0 81. 5 79.4 85.9 100.0 94.6 95.7 102.2 98.9 107. 6 128 2 114 2 123.8 117.3 i 110.5 111.5 111.5 110.9 134.5 145.1 136.2 ! 149.7 138. 5 122. 4 131. 1 126. 7 112.4 116.8 115.5 117.4 151. 5 166.5 160.9 167.1 139.8 125. 4 129.0 118.8 119.6 114.5 115.2 123. 2 152. 9 154. 3 133. 3 157. 2 97.8 ! 90.2 105.4 98.9 i 95.7 100.0 i 102.2 90.2 98.9 113.0 115.2 130.4 131.0 114.5 130. 2 122. 2 124. 5 128.8 1 20. 3 115.5 124.0 138. 0 134.1 145. 1 131.4 120.5 134.0 121.8 118.6 126.9 123.7 114.1 119.2 125.0 118. 6 129. 5 132 0 ! 118.0 ! 129.7 | 121 3 i 147.2 132.9 142.9 134. 8 118.8 132. 6 123.9 113.0 97. 8 108. 7 105.4 135.4 119.7 132.9 128.2 124.7 110.0 120.3 111. 1 103.8 109.4 114.6 108. 8 128. 6 137 6 MPV June Julv August September October December--. 1927 Januarv February March April. Mav June July •Vugust September October November December 1928 521 ! 100,0 117.4 94.2 97 9 101.3 101.5 112.4 119. 1 124.4 , 13sl 9 : .. 13L5 129.8 .-- .. 9-t i 110 i 110 < 1 J j- 2 i i ! ! j ! 106. 6 101. 1 111.7 111.5 in;-. ?> _~ 4 12-> h pi. i 11', 4 IV 4 i 32 ( ' -t 132. 4 101.4 131 " J-' " 10,101.-).' r 12 1J! 27 1H 120 13" 12" 135 i 9 '' 1 <• 8 4 4 29 9 ll" 2 I 5 101.5 100. 7 is?;. 2 204. 9 22!5. 4 244.5 211. 1 225.0 213.9 8'->. 0 94. 8 104.2 104.9 1 i 0. 0 104. 1 90. 9 105.4 lii.'o 133. 8 247.' 2 286. 1 100. 6 101. 6 105.0 99. 2 110.6 118. S 118.4 233. 4 113.6 : 126.9 107.3 123.0 118.7 120.9 124.8 116.4 111.8 113.6 124.8 123. 4 139. 1 114. 7 105. 1 116.2 105. 1 114.7 107.4 94. 1 93.4 132. 4 161.0 147. 1 143. 4 219.5 197.2 225. 0 186. 1 183. 3 197. 2 200. 0 197.2 227.8 277.8 280.6 258.4 95. 1 84. 6 97.5 9^.0 99.1 100. 9 102. 7 101. 3 138.4 153. 8 130. 3 117.9 129.5 ! 119.9 l 131.4 ! 130.1 • 130. S 115.4 127.6 125.0 123.5 99.3 115.4 103.7 227. 8 208.4 230. 6 211.1 101.2 91.8 111.5 107. 6 , > > -> 12 7 1( ir. 4 .r* x 12x 2 119 J 12i 9 129 X l_l b 132 3 ! , ! : ! 1 SO. 6 211.1 10°' 2 84.4 103! 8 1 19. 4 1 10. •} 9 ' 100.0 111.1 ^.9 77. s X-.9 7^.7 Hi5.fi 103.4 105.4 111.6 109. ;-; lOO.'fi 1 01. 9 -3. x 93. 8 cju 4 116.7 106. 7 203. 3 153. 3 95.5 100. 0 87.9 98. 9 99.2 104.8 103.1 107.4 110.2 150. 6 155. 7 128. 0 120.9 1 00. 0 93. 2 1 i 2. 3 104.9 94. 4 100.0 104.9 95. 7 101.9 124. 7 1?4 7 124. 1 72. 7 63. 6 SI. S Si.x 72. 7 72. 7 : !•'). 9 90. 9 90.9 109. 1 ! 81.8 i 90.9 8\ 9 66. 7 77. 8 77.X 77. 8 77. a 88. 9 77. 8 111.1 144.4 111.1 111.1 71.1 61.1 80.0 75. 5 105.9 95.2 116.4 118.4 109. 3 101. 9 118.5 102. 5 72. 7 63. 6 81.8 72.7 ! 88. 9 SS. 9 111.1 100.0 67. 8 58. 9 66. 7 S&9 96. 7 80.0 ' 20 RELATIVE DEBITS TO INDIVIDUAL ACCOUNTS AT CLEARING-HOUSE CENTERS—Concluded GROUPED BY FEDERAL RESERVE DISTRICTS :] KANSAS CITY DISTRICT YEAR AND MONTH Total 14 centers Denver 1919 average, millions of dolls. 1, 231 146 1919 monthly average . . 1920 monthly average 1921 monthly average 1922 monthly average 1 923 monthly average 1924 monthly average 1925 monthly average 1926 monthly average 1927 monthly average 100.0 109.8 82 0 84. 2 90.6 85. 7 95 5 100 4 ! 102. 4 1926 January February March April May June July August September October . November December 1927 Januerv February March \nnl Ma^ June July August . ... : October November 1 December ! i i 1 i Jaimnrv Febvu ; irv March " April Mav June > 1928 j St. Kansas City, O m ah a Joseph. Mo. Mo. 413 264 100 0 139.7 98 6 102. 7 111.6 112. 9 121 5 123 2 120. 4 100.0 94.9 74.6 74.3 84.3 81.4 90.1 93.4 93.8 100.0 95.5 67.4 73.1 77. 7 69.7 76. 9 75.4 76.0 100.1 i 84 4 99.0 94.3 92.0 99 5 115. 1 101.9 101. 5 108. 8 100.6 108 1 119.9 104 8 121.9 119.9 111 6 119 2 139 0 120.5 134 2 139. 7 117.8 130 1 93.5 78.0 87.4 85.0 84.7 89.1 115.7 101. 0 95. 6 100.5 92.7 98.1 72.4 67.8 83.0 73.5 73.5 78.4 81.4 79.9 71. 6 78.4 102 3 88.9 101.9 98. 2 97 2 101 2 104. 5 104.2 i i 121 9 94.5 124.0 126 7 123 3 118 5 115. 7 115.7 88.9 78.9 88. 6 87.2 88. 9 91.3 99. 0 101. 9 74.2 65. 5 76. 5 73. 5 71.6 7o. 4 76. 5 80. 7 "'OS 9 104.6! 114.3 132 2 126.0 126.0 109 4 94.4 105.8 inn. rp 94 > 107. 5 101.9 HP. P 106 8 126 0 125.3 99. 93 85 100. 0 93. 2 i i ! : SAN FRANCISCO DISTRICT Oklahoma City 68 94 1,909 314 100.0 153.0 129.4 119.2 114.7 112.1 127.4 139.1 154.6 100.0 131.9 88.3 105.3 104.3 89.5 112.6 136.0 139.2 100.0 123.2 104.4 107.2 126.3 128.9 142.9 155. 7 172.3 100.0 139.2 143.0 165.0 223. 6 236.7 251.1 278.1 280.6 78.8 64.7 75.3 65.9 70.6 77.6 78 8 69.' 4 71.7 76. 4 72.9 78. 8 ! 150.0 : 125.0 141.2 129.4 128.0 141.2 147.1 132.4 139.7 141.2 ; 138.3 155. 9 136.2 107. 5 133.0 130. 9 127.7 136.2 145. 8 130.9 139. 4 141. 5 136. 2 167. 0 157.2 153. 7 171.2 154. 8 144. 9 151.7 ICO. 8 | 147.0 I 153. 4 159. 1 145. 5 168. 7 281.9 268. 5 310. 5 154. 9 128.0 157.4 151. 5 148. G 161. S 151.5 1 32. 4 iro.7 16° 3 169." 2 189.8 Tl.9 131.9 173.4 164.9 T9.9 1W6. 4 172.2 161. 4 l'io. 8 164. 1 15s. 7 171. 5 1S4. 2 pns. ° 29.\ 3 349.1 303.8 2SO. 5 281.2 279.0 83. 3 73. 5 76. 9 71.7 60.0 ' 68.2 61.2 67. 0 68.2 67. 0 67. 0 65. 9 68.2 67.0 71.7 76. 9 75. 4 88. 3 76. 1 72. 9 68. 2 77. 6 64.7 160. 3 144. 2 164. 8 166.2 140. 4 124.5 128.7 126.6 85 100.0 97.6 81.1 69.4 72.9 71.6 72. 7 1 73.4 1 66.9 ! 1 : 73'. 5 1 PortSan ! land, FranOreg. | cisco Total, Los 18 centers Angeles Tulsa 133. 0 128. 7 137.3 127^7 181 Oakland, Calif. Seattle 63 \ 760 206 100.0 108.8 ! 82.3 ; 76.2 i 86.2 89.4 92.0 1 101.0 94.2 100.0 124.6 101.9 94.8 104.0 107.1 126.1 138.2 165.0 100.0 96.1 67.0 73.3 83.0 87.7 98.0 103.2 105.8 100. 0 160. 3 128. 5 144. 4 192. 0 196. 3 227. 3 273. 0 356. 6 92.8 87. 3 100.6 95. 6 100.6 101.7 105. 5 107.2 104. 4 109. 4 105. 0 102. 2 138.6 152.9 157.8 137.0 128. 7 132. 8 141. 5 129. 5 132.3 138.6 123. 2 145.2 100.0 88.3 110.7 107.3 97.6 102. 9 104.8 104.8 113.6 108.2 97.1 102.9 265. 0 257. 1 295. 2 266. P. 250. 7 266. 6 293. 6 242. S 263. 4 261. 9 241 ° 371.4 1C*'. 2 29 -.9 305 8 330. 0 89.5 82.3 88. 4 94.5 99. 5 90.1 90. 6 94.5 100.0 101.7 105. 0 94.5 144.8 154.6 176.7 161. 7 151.7 157. 9 156. 7 147.9 168. 8 188.2 174.2 197.3 91.7 88. 3 107.8 107. S 98.5 106.3 99.5 112.1 ! 117.0 115.0 108. 2 i 117.0 ! 379' 3 361. 8 339. 6 360. 2 344.4 333. 3 339. 6 358 7 353! 9 436. 4 ! ! i ! ! 183. 3 ! 179. 1 212.6 i 191. 3 1 317. 5 309. 3 366. 6 332. 2 84.5 81.2 91.2 89. 5 180.4 188. 5 221.6 189.1 108.2 : 97.1 j ! 133.0 r73 8 ! 396. S 336. 4 414.2 430. 1 ' ; 1 ! 253.' 2 275.2 ' 292. 4 260. 2 271.4 281. 6 264.7 301.9 I ! ' | ! i ! ! ! i !: • : : i ; : • DISTRICT TOTALS— SEASONAL VARIATIONS ELIMINATED 2 ! YEAR AND MoNTH 1919 monthly average 1920 monthly average 1921 monthly average ! 1922 monthly average i 1923 monthly average _ ' 1924 monthly av^-raee 1925 monthly average 1926 monthly average 100.0 106. 0 88. 7 97. 8 1 103.3 ! 10° 5 126 7 135. 4 !! 1927 monthlv average January February March •Ypril Mav. June . ' July I August September October : November ! December January February March I \pril Mav June July August _ September October November December 192G ! i ' 1 ! .! i i 1927 January.. February March. April !! . 1 1 . . . _ . 1928 June Boston totli : . - 100.0 109. 5 101 9 105. 4 117.1 121 1 136 6 146. 0 150.0 158.1 138. 5 139 95 149 141. 8 128.2 130.9 137. 3 136.4 132. 0 131.4 124.1 135. 1 149. 8 143 0 147 3 156. 6 145.0 141.9 147. 9 141.8 140. 9 154.0 142.9 140. 3 Philadelphia York 1 | ! 1 ! 100.0 99.3 85. 1 98. 5 98. 0 108.3 128.6 139.0 160. 2 i 100.0 105.1 95.9 102. 5 114.4 116.8 129.4 132. 1 140. 0 142.4 142.8 159 0 145. 7 128. 3 133. 1 138. 7 143. 5 136. 2 133. 4 124. 0 140.8 136.2 135. 7 142.6 141.6 129. 1 129.4 138.8 125.3 133.3 135. 3 131.4 jgQ 2 ! i 1 I ; ! i CJeveland ; I ; ! 1 ' i ! 1 ! j Richmond 100.0 116.4 89. S 94. 5 111. 1 109.5 122.0 127.4 130. 7 100.0 112.1 95. 6 89.5 98.8 96.5 106. 8 108.5 107.3 100.0 115. 6 84.4 85.9 99.9 105. 3 124. 8 128. 4 124. 1 132.5 126. 6 128.3 130.4 123. 0 124.0 131.9 126.3 125.9 131. 1 124.7 1^3 " 111.0 117.5 115. 3 114. 6 104.8 10S. 1 116. 7 99.1 105.4 105. 9 98.0 105.9 132.9 135. 7 140.3 140. 6 125.8 123.3 131.2 125. 6 127.8 128.0 111.7 118.0 ! IOG. o ! 100.0 116. 1 92.0 96. 8 i 109.0 110.8 123.8 132.1 137. 9 ! 135. 5 135. 9 139. 6 ! 137.0 130.9 132.1 134. 5 131.3 124.3 126. 4 125. 2 132.0 [ 139.9 149. 8 154. 6 152 0 144.5 146. 8 144.7 155.8 159. 6 148.0 149. 5 155. 0 i ! : ' > 160.9 ' 169.3 : !i 186.6 ; 182.8 i 150.3 157. 8 163. 4 164 5 154.7 154. 8 150.8 155.7 163. 0 159.9 161. 8 160. 6 i ; • ! i i i i | 166.5 157.8 ! 167.8 174.5 1 145. 4 157. 5 166. 3 159. 2 150. 6 155. 2 153. 5 172. 7 176. 7 157. 7 159. 2 167. 9 | ! ! ! 175.8 ! 187. 5 • 215. 0 i 206. 5 Minne- Kansas apolis City St. Atlanta Chicago j! Louis 139.7 145.6 146.3 143.6 139.8 134. 2 135.3 135.4 141.5 136.5 141.2 141.4 i ! i ! 1 ! 1 i \ i ! | 136.3 143.2 137.9 148.8 136.1 146. 1 i 137.0 I 132.1 131.8 131.5 128.8 130.5 107.6 109.2 109.8 112.8 103. 3 104. 0 102. 3 107.5 110. 9 108.4 106.5 104.8 121.4 130.4 125.3 i 129. 4 120.7 119. 9 122.8 126.3 • 135.8 124.2 114. 2 119. 1 132.0 135. 9 136. 7 142.0 141.5 139.6 133. 1 140. 2 139.7 135. 0 137.2 141.4 148.0 146.5 156.9 159.3 ! i 1 ! 136.8 139.4 137.5 140.8 104.8 110.9 113.3 112.4 117.6 ! 126. 6 i 126.0 124.6 145. 4 147. 4 154. 2 159.7 1 | i ; ! i ! j ! i i ! ! i San ! Francisco i Dallas no! 3 110.5 I 124. 1 127.3 ! 127. 3 100. 0 108. 5 82.9 87.9 95. 0 103. 1 114.4 105. 3 109. 5 100.0 109.8 82.1 84. 1 89.7 87.0 95.4 100.3 102.3 100.0 118.0 94.3 97.9 101.1 101.2 ! 112.4 119.4 124.5 129.6 128.9 i 129. 9 131.6 128.0 125. S 131. 6 124.0 127. 1 125.8 125.0 120.5 103. 5 114. 5 112.4 107.9 105. 1 103. 6 110. 2 103. 7 100. 1 100. 3 100. 5 102. 3 96.8 96.1 96.9 98.4 93.2 99. 7 114.8 99.8 100.2 102.6 101.0 104.2 116.4 124.9 123.1 122.6 111. 6 116.8 127.9 121.0 124.3 116.9 112.3 114.8 105. 5 89.1 94 2 122. 1 126. 8 129. 7 127. 2 127. 0 127. 7 123. 8 126. 6 130. 5 126. 0 131. 6 129. 1 ! i ! i 126. 2 j 132. 6 I 132. 4 i 133. 4 94.5 106. 5 103. 9 104. 4 105. 6 102.9 107.9 105.9 125.2 129. 9 121.0 106.2 1 100. 6 > 115.6 i 118.9 114. 6 1 98.9 101.3 99.8 102.5 98.5 101.4 104.2 102.2 101.3 102.7 105. 0 110.2 119.7 129.6 126.7 129.5 118.8 119.0 124.4 123.4 130.0 123.3 123.1 126.4 102. 5 107. 7 105.3 106. 4 123.2 133.9 132.8 133.9 : s : !1 i i ! i i : 100. 0 i 123. 4 105. 4 : 107. 1 126. 4 129. 4 142. 9 156. 2 172. 4 158. 6 1S3. 4 167. 4 162.1 150. 0 152. 9 162. 8 151.4 151.9 146. 1 140. 0 147. 7 j ' ; ' | 166. 4 190. 8 182.2 l&O. 3 167. 1 167. 1 166. 1 163. 4 169. 8 169. 1 173. 3 173. 6 185. 0 213.7 207. 8 200.3 ! 1 Compiled from data collected by the Federal Reserve Board, this table supplements similar data published in the October, 1923, SURVEY (No. 26), pp. 51 to 55, and which have been carried forward since that issue in the July, 1924, SURVEY (No. 35), pp. 58 to 60, the April 1926, SURVEY (No. 56), pp. 24 to 26, the October, 1926, SURVEY (No. 62), pp. 22 to 24, the March, 1927, SURVEY (No. 67), pp. 28 to 30, and the November, 1927, SURVEY (No. 75), pp. 28 to 30. Subsequent comparable data will appear in the advance reprints. 2 Compiled from data collected by the Federal Reserve Board, supplementing similar data published in the February, 1924, SURVEY (No. 30), p. 25, and which nave been carried forward since that issue in the aforementioned issues. Subsequent comparable data will appear in the weekly supplements. 21 INTEREST RATES NEW YORK MARKET [Per cent] i 1909 1913 1910 1911 1 ! i 1913 j 1914 1915 1916 1918 1917 1919 1930 1933 1921 1933 193i 1935 1936 1937 1938 i TIME LOANS (90 DAYS) January.. _ February March... \pril Mav June July .-. August September. October November December --- ! Monthly av 2.65 2. 78 2.65 2. 50 2.59 2. 59 2.37 3.28 3.65 4 57 4 87 4 65 4.37 3.63 3.83 4.06 3.94 3.37 3.88 3.75 4.17 4.66 4.69 4.00 3.50 3.19 2.94 2.78 2.78 2.78 2.85 3.19 3.45 3.63 3.59 4.00 3.13 2.88 3.36 3.56 3.28 3.13 3.50 4.10 5.34 5.70 5.93 6.00 3 26 4.03 3.22 4.16 : 4.28 4.31 5.32 4.56 4.00 4.25 4.47 4.60 4.65 5.03 4.97 5.18 3.90 3.06 3.00 2.91 2.73 2.59 3.03 6.98 7.88 6.75 5.53 4.05 4.64 4.37 I ! i ! i '< ! j i 3.40 2.88 2.88 2.91 2.90 2.63 2.68 2.88 2.78 2.83 2.78 2.68 2.73 2.75 2.88 2.85 2.94 3.31 3.95 3.31 3.33 3.38 3.22 4.33 3.22 3.75 3.85 3.97 4.56 4.95 4.75 4.38 5.35 5.44 5.44 5.83 5.81 5.81 6.00 5.94 5.88 5.83 5.75 6.00 6.00 6.00 6.00 5. 73 5.51 5.61 5.76 5.84 5.70 5.94 6.25 6. 36 6.03 6.40 7.02 7.60 7.65 8.78 8.44 8.31 8.50 8.31 8.59 9.00 8.48 7.93 7.84 7.34 7.38 7.50 7.25 7.25 7.00 6. 78 6. 48 5.91 5.64 5.56 5.35 5.28 ! 4.88 5.00 ; 4.66 1 4.44 4.31 4. 25 4. 10 4.27 4.61 ! 4.98 i 5.06 | 4.97 4.69 4.98 5.39 5.41 5.09 5.01 5.25 5.39 5.56 5.20 5.07 5.00 4.77 4.78 4.60 4.50 4.01 3.33 2.94 2.85 2.97 3.07 3.41 3.73 3.73 3.79 4.13 3.95 3.86 3.92 4.03 4.33 4.61 4.94 4.96 4.98 4.79 4.68 4.72 4.29 4.05 4.20 4.44 4.75 4.94 5.00 4.75 4.69 4.50 4.44 4.44 4.44 4.38 4.50 4.44 4.13 4.13 4.32 4.19 4.13 2.85 3.25 4.62 5. 90 6. 17 8.26 6. 45 4. 63 5.17 3.75 4.27 4.61 4.34 4.38 4.56 4.63 4.94 CALL LOANS (EENEWAL) January February March April May June July August September October November December . 1. 81 2.25 i 1. 84 i 1.92 ! 1. 84 1.88 1.82 ... 2.12 '< 2 52 i 4 05 4.59 5. 00 4.69 2.77 2.82 3.54 3.63 2.78 2.60 1.53 1.84 2.93 3.50 3.28 3.44 2.34 2.34 2.33 2.28 2.38 2.38 2.34 2.30 2.28 2.50 4.05 2.50 2.22 2.43 3.16 2.75 2.75 2.91 2.88 4. 59 5.22 6.43 6.25 3.53 3.31 4.07 3.56 2.77 2.37 2.18 2.32 2.90 3.31 4.25 4.50 3.18 2.35 1.88 j 1.97 1.91 1.97 1.84 2.13 1.83 2.00 1.84 ; 1.84 2.41 1.83 6.50 1.88 7.00 1.91 6.80 1.95 5. 81 1. 97 3.60 1.98 1.90 1.88 2.03 2.08 2.19 2.88 3.10 2.25 2 75 2.63 2.69 4.48 2.03 2.31 2.25 2.41 2.84 4.50 3.50 2.88 4.48 3.66 3.88 5.20 4.44 4.94 5. 15 3.81 4.69 5.02 5.75 5.80 6.00 6.00 5.78 5.45 4.87 5.02 5.05 5.36 5.34 6.30 6.45 5. 30 5.62 7.45 10.43 8.06 8.61 9.38 8.13 7.43 7.10 7.47 8.39 7.26 7.07 7.79 7.78 7.00 6.72 7.27 6.83 6.54 6.78 5.98 5.58 5.56 5.12 5.23 4.97 5.14 4.52 4.90 4.22 3.97 3.90 3.72 3.86 3.75 4.34 4.73 4.89 4.65 4.32 4.82 5.14 4.87 4.70 5.00 5.06 4.97 4.93 4.75 4.80 4.86 4.39 4.33 4.04 4.21 3.38 2.25 2.10 2.00 2.07 2.32 2.42 3.49 3.32 3.60 3.97 3.86 3.82 3.97 4.09 4.19 4.62 4.87 4.75 5.32 4.33 4.85 4.55 4.06 3.81 4.15 4.27 4.52 5.02 4.75 4.56 5.16 4.32 4.03 4.13 4.18 4.26 4.33 4. 05 3.68 3.80 3.90 3.60 4.38 2. 64 2.99 2. 58 3.67 3.26 3.72 2.57 3.33 5.24 6.27 7. 78 5. 98 4.29 4.85 3.08 4.20 4.50 4.06 1922 1923 Monthly av 1.9S i 1 1 1Q22 ; 1923 1924 j 1925 i i 1920 ! 1921 T\TnxrTrr 1926 1927 1928 1920 PRIME COMMERCIAL PAPER (4-6 MONTHS) January .__ Februarv March April Mav June Julv August September October November December... 6.00 6. 50 6. 75 7.00 7. 50 7. 75 ! 8.00 _ _ _ J 8.00 i 8. 00 ! 8.00 8.00 1 8.00 i _ i | . !| _ _ _ . Monthly average 7.46 ' ; ! : , ! i ' '• ; 7.75 7. 75 7. 75 7.50 7. 00 6 50 6.25 6.25 6. 00 5.75 5.25 5.00 4.75 5 00 4.75 4.50 4.25 4 25 4.00 4.00 4.25 4.50 4.75 4.75 4. 50 4 75 5.00 5.13 5.00 5 00 5. 00 5. 25 5. 38 5.25 5.00 4.88 6.56 4.48 5.01 ! 3.88 [ : i i ! \ 4. 75 4. 75 4.63 4.50 4.38 3 63 3. 38 3. 13 3 25 3.13 3.38 3.63 ! 4.38 < 4 25 4.38 j 4.38 i 4.00 i 4 00 i 4. 13 ] 4. 38 i 4 63 | 4.63 I 4.50 ! 4.50 4.25 4 13 4. 13 4.13 ;! 4. 13 4 25 4.25 : 4.00 i! 4 00 4.00 4.00 s 4.00 ' 4.03 i 4.35 4.11 i 3.50 3 75 4.00 4.00 3.88 3 88 3. 88 4. 13 4 25 4.38 4.38 4.38 . . _ _ ... 5 30 5.38 _ ... . . . . . ... Monthly average _ ! i i ! • 3.08 3. 17 2.90 3. 11 3. 27 3.47 3 58 3.35 3 11 3.03 3.25 ! 3.11 2.77 3.47 ! 3.93 i i !] 3 49 3 18 2.78 2.78 2.73 2.86 3 06 3. 01 3. 16 3 53 3.65 3 51 2 61 4.83 5.20 2 fi'2 3 76 3 65 3 54 4. 12 :; 3 57 4.13 3.38 3.95 ! 2.99 3.84 2.44 3. 90 ' 1.92 3.86 1.90 4.01 < 2. 14 4, 22 2 41 3. 94 2.58 2 57 3 88 4.99 i 4.60 4.75 4.75 i 4.21 4.03 3 90 5. 10 : _ _.. : 3 81 3. 55 3.21 3.25 3.25 3.20 3.13 3.34 3. 71 3. 66 3 65 ; i ! ij : i i ! 1924 1925 1927 1926 1928 PRIME BANKERS' ACCEPTANCES (90 DAYS) 4.00 4.00 4. 13 4.38 ! 5.25 5 50 6.00 6.25 6 25 6 25 6 25 6. 25 6 25 6.25 6 25 6.25 5.88 6 00 6.00 5.63 5.75 5 50 5 25 5.00 5 00 4.50 4 25 4.13 4.00 4 00 3.75 3.38 3. 13 3 00 3.00 3.00 3 13 3.75 4 00 4.00 4. 00 4 00 4.00 4. 13 4. 13 4 13 4. 13 4. 13 4 13 4.13 4. 13 4.13 6.08 5.24 3.51 4. 10 U. S. TREASURY NOTES AND CERTIFICATES (3-8 MONTHS) Februarv March April. _. May June _ July August. Beotember . _ October November December 1921 4.24 4.38 4.47 5.08 3 " 3 31 3 29 3 33 3.27 3.62 3.39 3.33 3.09 2 96 1 2. 70 2.81 3 OS 3.04 3 17 3. 00 3 13 3.25 3. 13 3. 19 3 25 3. 25 3. 25 3 50 3.50 3. 50 3. 50 3. 63 3 63 i 3.63 ! 3. 38 i 3. 25 3 31 ! 3. 38 i 3. 56 i 3.88 ! 3.85 ; 3. 80 : 3.80 3.69 3.69 3.63 3.63 3.63 3 63 3.50 3.13 3 13 3.25 3. 25 3.25 2. 97 ! 3. 29 3. 59 3.45 i 4. 13 4 06 1 4.06 3. 94 ! 3. 25 2 31 i 2. 00 ;! 2. 13 2 19 2.25 2 3S ; 2.88 ; 1 ; 1 i i ; i , ; 3.38 3.50 3. 50 3.75 LIBERTY AND TREASURY BONDS 4 98 5 09 5. 14 5.35 5. 65 5.59 5 63 5.73 5.63 5 36 5.54 5 76 <5 4S 5 55 5. 52 5.48 5.49 5.49 5 47 5. 40 5.28 5 93 4.73 4 54 i i 1 i i , 4 54 4 58 4. 44 4.30 4.27 4.25 4 IS 4. 18 4.22 ' 4 33 i 4.43 4 42 5.45 5.37 i 4.35 4 41 4 41 4.49 4.51 4.48 4.44 4 43 4.43 4.45 4 50 4.44 4 41 4 39 4 29 4.29 4.24 4.15 4.01 3 94 3.92 3.95 3 93 3.98 4 05 4 04 4 02 4.02 3.96 3.93 3.90 3.95 3.98 3.98 4.02 4.04 4 04 4 04 4 01 3.98 3.94 3.93 3.90 3.93 3.95 3.96 3 95 3.91 3 84 4.45 i 4.09 3.99 3.95 1 |1 2 3 60 3 35 3' 58 3. 36 1 3. 48 3. 30 3. 47 3. 32 ! 3.44 i 3.47 3.48 i 3.45 i! 3.44 i 3 43 i 3.39 ! 3 34 3.46 1 Compiled by the Federal Reserve Board, except time loans prior to 192-3 and call-loans prior to 1921, which are from Ogle, Dunn & Co. Time-loan rates are those prevailing on the New York Stock Exchange for 90-day time loans, while call-loan rates are the average renewal rates on the New York Stock Exchange. j Beginning with 1927, Liberty bonds are excluded and the average yield is calculated upon 3 issues of Treasury bonds (3%, 4, and 434) to their last redemption dates (1925 to 1958). Prior to 1927, the yield is calculated on Liberty bonds only. 22 MONETARY GOLD STOCKS AND MONEY IN CIRCULATION, END OF MONTH MONETARY GOLD STOCKS ' MONEY IN CIRCULATION 2 i MONTH | 1922 1925 ; 1921 1923 i 1926 1928 1927 1922 1923 1925 1 1924 ! 1926 ! 1 1927 1928 $4, 846 $4, 677 i Millions of dollars January February. March .. April May June July August September October November December i $3, 685 _J 3, 723 ! 3,760 ! 3, 764 i 3, 771 i 3, 785 3 829 3 855 ' 3 873 1 3' 888 ! 3 9^6 ' 3 9^9 __ Monthly average - j $4,289 4,323 4,364 4,411 4,455 4,488 $3, 953 3,963 3,970 3,982 4,028 4, 050 4 079 4 111 4 ^36 4 9167 4- 07 4 24.4 3, 814 i $4,423 '• $4,412 j 4,369 i 4,423 ! 4,346 ! 4,442 ! 4,350 i 4,438 4,361 i 4,433 i 4,365 '• 4,447 4,610 4.587 4 77 4,379 4.454 4.555 ; 4 397 4 471 4 473 4 466 4, 407 . 4 447:-'. 580 588 571 ;"41 451 4, 497 4,267 : j I 4, 608 !! 4 4<-.o 4 5° 7 4,451 4, 074 4, 305 | 4 3M<-» ' 4, 370 i! 4 383 4 382 :i 4 .tuq 4. 597 4 4 4 4 •i 4. 511 i 4 521 i 4 5H • 4, 509 $4,564 I $4,373 ! $4,441 4,586 ' 4,362 1 4,491 4,468 ! | ; ! ' i ' ; $4,614 4,703 [ ! 4, 455 ! 4,463 : ! 4, 424 4 4*0 4 008 4. fVH 4- 704 4 'J.7C; I | : 4,887 4,899 4,759 4, 797 4,823 $4, 802 $4, 841 4,818 4, 860 4,789 4,905 4,849 4,841 4, 815 i ; ; 5 044. 4, 756 4 859 4 863 4, 942 5 052 5 047 4,541 i 4,837 4, 891 4,904 4,853 4, 853 4, 787 4 876 4 945 4, 925 5 018 4 ^17 ', „ $4, 777 4, 747 4,907 : 4,885 ; 5 044 5 104 4. 893 4, 851 4, 846 4 854 4 948 4 940 4 952 5 003 4,884 4,941 4, S98 4 867 4 916 4,969 4, 749 4,891 4, 923 ' 4, 885 4, 909 4 930 4 978 5,021 5 037 5 095 4,795 4,690 4, 862 4,748 1 Compiled by the Federal Reserve Hoard and consists of gold held in the Treasury and Federal reserve banks plus the amount in circulation. Gold held abroad by Federal reserve banks is included, and gold in the United States earmarked for foreign account is excluded. A complete description of these figures is presented in the Federal Reserve Bulletin for December, 1927. 2 Compiled by the U. S. Treasury Department, representing all money hold outside the Treasury and the Federal reserve system, and including gold and silver coin and certificates, minor coin, and notes. Details by classes of money ;ire presented in the monthly circulation statement of the Treasury. These data revise previous figures and include minor coin, which was not included heretofore. A complete description of the revisions is presented in the Federal Resent Bulletin for December, 1927. PRODUCTION OF ELECTRIC POWER BY CENTRAL POWER STATIONS AND BY l MANUFACIUSING PLANTS, AND RECLAMATION PROJECTS RAILWAYS STREET RAILWAYS, MANUFACTURING PLANTS, AND RECLAMATION PROJECTS CENTRAL POWER STATIONS MONTH Januarv February Mar eh April May June Julv 1920 1921 3.462 o oo'j 3, 1 4" -1 39 i 3 1-2 3 219 3 ' 97 3 3U4 3,. il September October 3 37.1 3,411 December TV a1 1 "Monthl^ " average 40 oil 3 334 ' ^b 3 107 2, 9' 0 2, 991 9 97-" 3 l.'S 3.113 3. 303 3 351 3. 491 o- - ^ 3 199 3, 457 3 4't u ~ 1 '> 3 5 -v 3 575 3 7~'< 3. 74' > 4.0 7 4 0/1 4 ^ 707 3 IV) < 40 (| "7 4 '!' 41 : 4. ,('-, 4^11 4'* ' -it)") ^.^4 : 44 s - H-M 1 b"0 " i 't' 1, s J A 4,cSS"> ~ 7^ " 'M7 ^ 74 ^ 5, iu 5.42' 1 G v- 192S 1920 1921 ,,7 t > r ' t ~* > j, ; b -i • <M,- , X 4 J!A ' ( »i '> ;7 J ) , , ^ ( '4 j74 3<L' b "7*") ( > '' (..«>," 0 12 - -1 2-0 1Q22 1923 1921 ; 11)25 3 v, 3 "4 3o6 ,»24 3^! ro 413 351 ">7 46 o50 31 1 ' 4' 1 "(f ^ '~ •i - > t 9 4, is-5 4,5,2 44".; 4,579 4 3'*, 4;.! 4.^47 -+711 d, ,36 51 5"9 4 '97 54 c. N 4 5t,° 5 (' " 5 1 • ~> ' 5.1") 5. V>0 5 ,,97 5 723 01 -i J1 5 ''^ ^ ~t~'" \\ ' 5 7~0 ',MS o, I f . 1 ) o 040 6. i"2 0 H *,. i ; (.,4'*2 ( > -7 •' 7 " f t G^ 7^6. 5 7,. J 74 7."iJ. f ">' 0 ~>VS-> '"N ) s^ 2». 2-_ '> J ji' ^^ -M") ' .'5 0 6" ^2$ -)11 310 302 322 3^,s 3^4 ^ ^ l p -? Q -,20 ^9' 3-17 56-1 ^ 5 1 4 3 -i '7 o Q "o 4 > 0 " 4 <~, ">^ t , 3">i 3-ij 1928 1927 ^ " i' ^- , j _, 0- 22 345 426 -- >-± 4^c, 400 44-s. 446 -' ; j 449 U 6 40^ 42^ 13i 192$ v,Q 46S 479 4 "i 4J ( ) i5J 4'. 9 3S9 Oi 429 tu3 -xl 1 s ^ 4 i lf ) 5 f T G " i r n 1 9 417 i54 MISCELLANEOUS DATA AIK MAIL 3 POTASH SALTS Sales in Germany 2 Production in France i , 1924 1925 1928 1927 1928 1924 1925 i | Weight dispatched i 1926 1927 1928 192G 1927 .. 27, 490 '(> 740 21,^00 20.4"»0 27,200 2->,000 29,000 20. '300 31,372 2-, 230 0-1, <>"2 28, .'99 3l', s'">r 3J/)27 2 ,740 22,300 26,0(0 2S,4"6 31,MO' 3V'"-> 34 -'<} . 7> 10S ' 20\0 J s > 10^ S3-) , 1-^3, ( - e '0 :*»,0(6 , b f . M 3 ^5 "uO 1S2,660 139.397 ! 114.970 5'j, 9f'» "0. 955 June.. July.... AugustSeptember.. 30, .04 l - 7 , i 7 i | 1-»1,272 7S 711 7:,0' . 1928 Pounds Metric tons, I^2O content January February March Anril ; S2, >°< 202.010 208, 400 161,460 67,414 433 ! 435 | 578 j 32,510 ! 144,289 35.037 ! 153.363 42J111 i 173,929 45.856 ! Sl..l^ 32,404 i 102,051 11^,029 35,246 j 146,486 42,070 153,649 ; ! 54, MS 1 Compiled by Potasses D'Alsace, the French Government office having charge of potash mines in France. Compiled by the Kali Syndicat, controlling the German potash market. s Compiled by the U. S. Post Office Department, showing total weight of mails dispatched by air since the inauguration of the air mail in February, 1926. The department's monthly statistical report on this subject also shows length of route, frequency of trips, miles of service, and payments to contractors for each route. 2 23 WHOLESALE PRICES BY STATE OF MANUFACTURE SEMIMANUFACTURED ARTICLES RAW MATERIALS MONTH 1923 1924 1925 1926 1927 102.3 103.2 102.8 100.7 98.1 96.5 94.5 95.2 98.0 97.7 97.0 96. 6 97.9 98.2 96.5 96.3 94.4 93.3 95.9 97. 9 97.1 99. 3 100. 1 103. 2 106.9 107.8 108.0 103.9 104.1 106.3 109.0 108.0 107.3 106.3 107 4 105.7 105.9 103.7 100.9 100.6 100.6 100.0 98.5 97.8 99.3 99.5 98 2 Qfi.9 j 97.3 96. 0 94. 0 92. 7 93.9 94 1 94. 7 97.5 99.9 99.5 99. 0 99.2 1 100. 2 111.6 99. 1 i 117.3 97. 9 j 125.8 100. 1 1 128.3 . ! 125. 2 :1 120 6 '• . 116.3 j .. ' 112.2 .. 116.0 __ i 117.0 i 11 G. 5 ._ 117.3 115.1 115.6 114.3 110.6 106.3 102.8 102.4 105. 5 106.0 107.3 108.9 109.7 no. i 109.3 108.0 104.5 102.5 102.6 102 9 104. 4 105. 0 104. 5 105.3 104.3 104.0 103.1 101.0 99.4 98.3 98.5 98 7 99.6 100. 4 99.1 98. 9 98.9 97.8 97.7 97.1 96.6 96.6 97.8 95.9 97.9 96 0 95.6 95 7 97.3 98.6 97.6 ------97.0 97. 7 9S.5 97.6 96.5 : 108.7 105.3 100. 0 96. 9 99255 1923 1924 1925 1926 1927 FINISHED PRODUCTS 1923 1928 1924 1925 1926 1927 i 100.4 101.3 102.6 102.5 101.0 99 9 98.5 97.4 98.6 98.1 96.8 96.6 98.6 98.7 97.7 96.2 95.5 95 0 94.7 95.6 96.2 96.7 97.6 99.9 99.9 101.4 101.8 100.7 100.4 101 2 101.5 101.2 100.7 101.4 102.1 101.5 102.1 101.0 100.1 99.9 100.7 101 1 100.2 99.6 99.9 99.3 98.4 98.4 95.9 95.8 94.6 94.1 93.6 93 4 93.5 93.4 94.0 95.5 95.3 95.3 99.5 97.0 101.2 100.0 94. 5 1923 1926 monthly average=100 January February March. April May . June July August September October November December Monthly average 1 ! i i 1 i j 1 i i 1 ! 106.7 ; 100.0 .. 11^.6 ! 93.9 94.8 94.8 95.9 Compiled by the V. S. Department of Labor, Bureau of Labor Statistics. WHOLESALE PRICES: STRAITS TIN, NEW YORK MONTH 1913 1911 1915 1916 1s) H 1315 1019 ! 1020 IK. ] 1923 1924 ' 1913 1925 1926 19-47 1923 DoIIirs per noun 1 .4911 , .449.; ' i .10P-9 ' .4172 .4217 .4'!5'J . 3 )M . 27Hi May June July August September October November December . S3::0 .30'). .317o ,50,/J .32,"9 .3039 . 3:J-.~0 . S.'J/J .3S70 .411.) .4417 .-i'2'v ] I i | . 02bO .T2G, .f>U;S .MS5 .7442 .C"/5;) .V»s!i'» .vtOOO .s:-'»0 .,M'h,() .7400 .7150 ' .7t)o9 ' .r,37S . .".^1 S . :..V,L I 1 .5417 \ , .:.:.'Jo i . 4937 .4769 .440? .40»U .'\7(r2 ,3il5 j ,321'J CORN SIRUP AND STARCH 1 [In T nous-mi ; of pound.'] 1920 1318 1924 1923 1935 1828 1937 DISTRIBUTION CORN SIRUP (GLUCOSE) Mixed sirup Manufacturing confectioneries Jams, jellies, and preserves Bakers Brewers (body sirup) i ! ; i 635,783 412,388 29,944 33,161 24,512 j i i | I 293,477 481,987 22, 995 57,336 13,081 STARCH Bakers and millers Baking powder B rewers (refi nee! grit s) Confectioners Chemists, colors and explosives Dextrine, makers and founders Paper, paste, asbestos, etc Dealers and repackers (bulk) Grocers (packages) Laundry (bulk) Cotton mills, etc Miscellaneous Total distribution. ._ i [ ! i j | ; ! 25.667 I09J 782 121,988 12,496 65,018 9,033 699,401 ! 20,350 42, 828 2,664 26,800 27,200 26,284 I 19,469 54,388 1,723 31, 889 31,856 30,602 19,840 44,098 1,069 33,142 26, 631 44, 771 23,691 48,652 4,142 32, 650 29, 580 52,615 : 51,379 668,883 140,291 17,195 106^ 930 43,873 55,409 58,404 143,269 14,311 111,555 41,660 71,621 41,664 134,714 15,177 150,531 45,108 594,159 241,592 650,145 256,332 835,751 906,477 45,203 66,471 148,649 21,747 110,342 41,447 671,191 : 1,024,210 i Compiled by the Associated Corn Products Manufacturers, comprising total distribution of these products by manufacturers. 798, 922 24 TREND OF BUSINESS MOVEMENTS The following table contains a summary of the month!}7 figures, designed to show the trend in important industrial and commercial movements. These data represent continuations of the figures presented in the latest semiannual number (February, 1928), in which monthly figures for 1926 and 1927 may be found, together with explanations as to the sources and exact extent of the figures quoted. The figures given below should always be read in connection with those explanations. Data on stocks, unfilled orders, etc., are given as of the end of the month referred to. For explanations of relative numbers, including base periods, see introduction on inside front cover. 1927 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" jiPer ct. 1 | 1928 i PER CENT INCUMULATIVE TOTAL j i FROM JANUARY i j j || CREASE (+) OR , : ! DECREASE ( — ) , ; THROUGH APRIL 30 192T m ' crease (+) !'; or decrease D ?T- tI *««><>«• Febru- ary March April 17,281 S. 044 9,237 18, 085 6,399 11,686 2 24, 706 2 6, 498 18, 203 21,346 8, 138 13,208 24.759 28. 353 21, 305 23, 646 29, 473 33, 120 20.474 : 23,600 ; 4 48, 324 46, 757 38, 855 ! (-) April Apr., 1928, from Mar., 1928 Apr., 1928, from Apr., 1927 1927 IQ iy 9S 27,436 8, 600 18,836 28,025 9,522 18,503 -13.6 +25. 2 -27.5 -23. 8 — 14. 5 -28. 6 104,897 ' 30,730 : 74,117 31,418 !; -22.4 29,079 —5.5 52,339 ; -29.4 33.457 37,617 29, 239 ; -30. 5 33! 177 i — 2S. 7 -30.0 — 28.9 124,310 139,511 ' 96,011 | -22.8 108,719 • -22.1 54, 262 43.971 : -16.9 -11.6 190, 560 179,023 \ 13 3 —4. 4 —35. 5 10 2 +8. 8 —33. 9 -fl.8 -10.5 -4.4 -S.Q +1.8 -15.0 +6.0 0.0 -16.9 -1.3 -8.2 —2. 6 -11. 1 4-10.2 March '* i1 i | ! ; cuinulative 1928 from 1927 TEXTILES Wool Receipts at Boston: Total-. thous. of lbs._ 15,442 : Domestic . .. _.thous. of Ibs 8.794 Foreign thous. of Ibs 6,648 Imports: In condition imported thous. of lbs__ 17,924 ! Grease equivalent thous. of Ibs.. 20, 506 Consumption by textile mills, grease equivalent thous. of Ibs 41 691 Stocks, grease equivalent, end of quarter: Total thous. of Ibs s 303 5^3 Held by manufacturers thous. of lbs_. 3168,458 Held by dealers thous. of lbs._ 3 135,210 Machinery activity, hourly: LoomsWide-. .__ per ct. of hours active.. 63 Narrow per ct. of hours active.. 58 Carpet and rug per ct. of hours active.. 68 Sets of cards per ct. of hours active Combs per ct. of hours active.. 71 Spinning spindles — Woolen .per ct. of hours active 77 Worsteds per ct. of hours active . 65 Prices: Raw, territory, fine, scoured. dolls, perlb.. 1.14 Raw, Ohio and Pa. fleeces, % blood, combing, grease.. -dolls, per lb_. .49 : 1 40 Worsted yarn dolls, per Ib Women's dress goods, French serge, 39 in dolls, per vd 1.00 '. Suiting, 13-oz dolls, per yd.. 1.917 ' 5 0^7 s 261, 749 3 175, 876 3 85, 873 62 52 68 60 75 80 78 6G 3 00] fi=)-r 3 ifil 708 3 i'->q Q4S 57 68 79 70 58 51 71 78 64 61 63 66 80 81 60 67 78 77 77 68 61 75 56 77 60 63 1.17 1.20 1.20 1.19 1.08 1.08 —.3 .50 l! 53 .53 1. 55 .44 1. 38 .43 1.35 J-l Q l 43 .52 1 50 1.00 1.935 1.00 1. 953 1.03 2. 008 1. 03 2.003 . 98 1.913 .98 1.913 0.0 0. 0 67 4- "3. ?, +1.3 | +14.8 4-5.1 -t-5. 0 l Cotton Receipts into sight thous. of bales . Imports, iinmRTuifantiirfid balp^ Exports, unmanufactured (inci. linters). .bales.. Consumption by textile mills .bales _ Stocks, domestic, end of month: Total, mills and w'houses. .thous. of bales.. Mills _ thous. of bales Warehouses thous. of bales Stocks, world visible, end of month: Total thous. of bales., American thous. of bales Prices: To producer, all grades dolls, per Ib In New York, middling dolls, per Ib -6.1 1,660 41 211 767, 314 543, 598 4. 951 175, 906 4,111,285 2, 504, 115 2,960 -40.2 139,274 i -20.8 2,460,472 i -40.0 2,202,703 -9.6 237, 185 -20.1 +20. 6 ; 975, 781 -4.2 +32. 8 ! 1, 195, 921 252, 301 222, 942 -20.0 +21.2 i 1, 046, 334 176, 681 ' +3.9 +136.8 1 474, 530 +21.9 -23. 7 1 492, 467 -44.5 -48.0 i 1, 909, 250 1,242,022 +27.3 1,135,414 ! -5.1 1, 160, 096 +10. 9 i -18.6 —52. 2 -43~! 3 -15.1 898 41 445 728, 935 582, 417 633 38, 200 634, 890 573, 810 715 41, 433 614. 428 581, 318 ; 6.721 1, 707 5 014 5. 982 I, 609 4 313 5, 104 I, 593 3,511 4, 429 1,508 2, 921 6. 459 1.976 4, 483 5, 501 -13.2 -2'j. 4 1. 891 : -'•,. 3 -20. 3 16 8 ! °<! 4 3 070 7,501 ' 6,041 7.163 5,470 6, 702 5,. 020 6. 273 4, 543 6. 023 4, 102 7, 795 6. 178 7. 380 i 5,718 -4.0 -9.7 -18.4 — 28 3 . 187 • .196 : . 186 .190 170 .185 178 .195 187 . 203 195 . 144 .123 .146 +5. 1 +4.1 +52. 0 +39. 0 i 31.698 8. 259 227 101.5 31, 687 7, 969 220 101.2 31,413 8,312 231 96. 8 -1.4 32, 887 ' 8. 788 -10.8 '238 — 10 8 —2 1 105. 6 — 1.°, 4- ; ; IS, 934 13,444 38,287 18 642 13,611 , 38, 457 22 598 13, 475 33, 030 ! | .369 .523 7,363 1, 707 5 656 714 1, 287 18, 196 , 41, 267 485, 219 1, 129, 537 525, 158 693, 081 -. 1 877 38, 053 ; _ no. i 855, 449 -2l! 0 i 618, 279 -9.7 | Cotton Yarn Machinery activity of spindles: Active spindles thousands . . 31,715 Total activitv millions of hours 7, 859 Activity per spindle hours 215 Ratio to capacity per cent-94.3 Car ded sales yarn: Production thous. of Ibs 21, 160 Stocks, end of month thous. of Ibs. _ 12,880 Unfilled orders, end of mo thous. of lbs__ 40,115 Prices: 22/1 cones, Boston dolls, per Ib .371 40/ls, southern spinning dolls, per lb._ .522 '• .360 .494 . 366 .483 30, 965 i 7.416 ' I 206 94.8 ; .366 ;; .480 j , 32. 920 9,638 260 109.8 .312 .458 .312 .446 0.0 -.6 -5.8 : —10 2 +17.3 i +7.6 Cotton Goods Cotton textiles: Production thous. of yds. . 372,042 New orders -thous. of yds.. 374,581 Shipments -thous. of yds.. 328,076 Stocks, end of month thous. of yds. _ 336,501 Unfilled orders, end month.. thous. of yds.. 386,726 Fine cotton goods, production .pieces.. 468,823 Cotton cloth: Imports. .thous. of sq. yds.. 5,565 Exports thous. of sq. yds.. 41, 117 8 Revised. 1 297,669 : 194,114 266,947 367,223 !: 313,893 401,676 ' | 6,472 34, 963 300, 323 '; 358, 025 349, 855 256, 328 285, 404 337, 573 382, 142 402, 594 284,817 297,099 429, 095 461,429 5. 813 33, 380 7,921 42, 237 286,005 335, 117 270,172 418,427 362,044 255,949 ; i i i ! i 277,052 296, 165 305,134 162,438 445,171 551,323 6,369 -19.0 54,236 i , —5. 7 +.8 -26. 6 i * Quarter ending in month indicated. 6,418 39,831 i 5,717 44,553 21, 841 174, 482 1,548,149 -18.9 26,624 +21.9 150,411 ;i -13.8 25 TREND OF BUSINESS MOVEMENTS—Continued 1937 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" December 1938 January F ^- PER CENT INCREASE (+) OR DECREASE ( — ) 1937 March March April Apr., 1927, from Mar., April 192S CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 Apr., 1927, from Apr., ' 1927 1927 1928 Per ct. increase (+) or decrease (-) cumui lative 1928 from 1927 j TEXTILES— Continued Cotton Goods— Continued Fabrics for tire manufacture, consumption thous. of Ibs Elastic webbing, shipments thous. of dolls.. Prices : Print cloth, 64 x 60 dolls, per yd.. Sheeting, brown dolls, per yd. _ Cotton goods (Fairchild), rel. to 1911-1913- . Cotton Finishing White, dyed and printed (outside mills): Billings, finished goods thous. of yds.. New orders, gray yardage thous. of yds.. Shipments,finishedgoods cases. . Stocks, finished goods, end mo cases. _ Operating activity per ct. of capacity. . Unfilled orders, end of month .days.. Printed only (cotton mills and outside) : Production . thous. of vds.. Stocks, end of month thous. of yds.. Silk IIP ports raw thous. of Ibs Deliveries (consumption) _ _ _ _ _ _ _ bales. . Stocks, end of month: At warehouses _ _ . bales At manufacturing plants bales.. Silk machinery activity: Broad looms per cent of normal Narrow looms .per cent of normal . Spinning spindles per cent of normal.. Price,' Japanese, 13-15, New York.dolls. per lb._ Rayon Imports thous. of Ibs. . Stocks in bonded warehouses, end of month .__ thous. of Ibs Price, 150 denier, A grade, N. Y._dolls. per lb._ Clothing Men's and boys' garments cut:* Suits thous. of garments Separate trousers thous. of garments.. Overcoats thous of garments Overalls: Cut dozen garments.. Net shipments dozen garments..! Unfilled orders, end of mo.dozen garments.. Hosiery Production __ -thous. of dozen pairs Net shipments thous. of dozen pairs.. Stocks, end of month thous. of dozen pairs.. New orders thous. of dozen pairs.. Unfilled orders, end of mo..thous. of dozen pairs.. 11, 949 1,133 16,651 4 16, 040 1,159 16,924 j 1,374 i 18.854 1,627 1, 332 .080 .105 168 .080 .098 166 ! .076 .092 161 .076 .091 161 .069 .081 146 .068 .081 146 0.0 -1.1 0.0 +11.8 +12.3 +10.3 77, 885 69. 836 43, 287 41, 059 59 3.9 68, 737 75, 665 44, 673 40, 751 62 4.7 78, 786 79, 184 49.035 38,698 69 5.2 89, 740 81, 328 51.495 39,787 69 4.8 75, 378 63, 316 43, 378 40, 876 64 4.5 10s*. 067 102, 327 59, 519 36, 178 b2 6.8 91, 675 85, 323 51, 869 38, 275 78 6.2 -16.0 i -16.0 -15.8 ! +2.7 ! -7.2 |-6.3 -17.8 -19.9 -16.4 +6 8 — 17. 9 -27.4 48, 574 49, 826 64,015 74, 326 ! 75,725 75, 153 69, 378 78, 151 7, 541 42. 257 7. 405 52 420 6,617 50, 679 0. 72' 52. Oil 6, 561 41, Cr-i ' 7,011 49, 242 6, 418 47, 853 -2.4 -20.7 _i_2 2 \ -13. 8 : 53 540 47, 528 26, 700 41, 677 27, 567 40. 186 2.', 096 3"), 4S3 33. 116 21. 193 31. 749 — 11. 7 +11.8 24, 282 93.0 51.8 79.6 4.998 94.6 50.7 77.3 5. 145 99. 1 50. 6 79 1 5. 2M2 9v 8 52. 5 (77 :. 104 8*>. 5 ! 49.8 r4 2 5. 390 ! 90.1 60.4 81 2 5. 733 86 4 f2. 6 79 7 6 125 10 4 -5. 1 -20.4 ; 844 1, 718 1,518 1. 02° 1.50 1, 074 1. 45 2, 574 2, 984 343 1. 932 2. 039 4, 159 4. 251 7, 342 4. 225 5, 530 3,709 3, 618 7,758 3. 963 5,807 1, 164 1.298 1,282 i, 198 1,108 1, 013 1 395 949 .077 .095 j 163 j i ! ! ; ; j 1, 764 1, 366 1.146 ' 1, OSG 2. 5-19 1.50 2. 915 I. 50 3, 048 1.50 : 3, 903 1.50 2, 095 1,902 261 2,207 2,021 269 2,445 i 2.043 I 280 I 17, 238 44, 618 4 -18.1 358. 806 367, 655 209, 292 ' —8 4 ! +4.0 +3 8 -21.9 i.:o 0.0 51, 818 +16.1 312, 641 -12.9 304, 493 "' -17.2 188, 581 ; -9.9 258 944 27. 074 1SS, 262 27, 348 190,308 +1.0 +4.3 4,788 4. 436 -7.4 6, 917 6, 097 -4.3 -9.9 '94' 19 4 1° 0 -44.4 0.0 : 353, 790 294, 231 99, 039 2.265 2.033 280 ! 4 4 4 7? 227 G! 767 4 948 4 i §09 19 8 10, 989 10, 120 -4.3 -6.6 * 9, 609 -17.1 376,887 i 372,498 352,708 ! 253.736 105,970 ! 97,. 344 4 4 3, 386 3, 646 7, 640 3, 183 5, 395 3, 578 3, 033 7. 983 3. 109 5; 380 3 603 3.279 : 8.466 I 3.137 ; 5,107 3 808 3,808 8.494 3.363 4,532 Underwear thous. of dozen garments. _ thous. of dozen garments.. thous. of dozen garments. _ thous. of dozen garments.. 973 959 1, 100 924 1, 022 917 1, 202 1,309 1.132 i 1.042 : 1,209 1,025 : 21.215 21,194 1,250 1,208 1, 095 "916 1, 282 875 thous. of dozen garments.. 1,925 2, 313 2, 275 : 2 2, 251 2,230 2, CIS 2, 566 -2.2 -13.1 Burlaps and Fibers Imports: Burlaps thous. of Ibs.. Fibers (unmanufactured) long tons 44, 451 23, 862 48, 922 39, 268 66, 109 28,493 ' 63. 901 32,882 62, 051) 23, 682 39. 830 29. 096 50. 271 43, 437 -2.9 -28. 0 +23.4 -45. 5 187, 218 123, 176 240,975 +28.7 124,325 ; +.9 3.502 2,785 4, 068 3,051 4.752 : 3, 654 5,670 4, 469 4, 636 3, 705 4, 275 3, 426 3,559 2, 752 -18.8 -17.1 +30.3 +34.6 14, 438 10, 777 19,126 !, +32,5 14,879 +38.1 2,979 3,588 4,715 ; 4,499 3, 817 2,781 2, 995 -15.2 +27.4 8,713 7,081 13, 919 14, 572 23 885 17 544 45.1 9,662 48.8 10, 902 51.1 10, 748 51.9 10, 914 50.0 9., 819 233. 393 258, 195 336, 045 577, 789 data. 225, 053 229, 397 236, 835 585, 268 50.9 9,900 1 209, 227 210, 455 203. 227 539, 676 * Knit Production Net shipments Stocks, end of mo New orders Unfilled orders, end of month Pyroxylin Coated Textiles Pyroxylin spread thous. of lbs_. Shipments billed thous. of linear yards.. Unfilled orders, end of month thous. of linear yards.. : * 11.480 * 10, 838 * 11, 594 : -9. 9 -23.3 -V2 6 -27.6 -1.2 ! —9. 6 8 1[ -7.8 4, 177 3, 907 4, 467 ;i 4,069 +6.9 +4. 1 4, S20 4, 417 -8. 4 Fur Sales by dealers .thous. of dollars. Buttons Fresh-water pearl buttons: Production ratio to capacity.. Stocks, end of month thous. of gross.. Ocean pearl buttons: * Production number of gross. . Shipments .number of gross.. New orders.. number of gross Stocks, end of month., _ .number of gross. • See table on p. 48 of the May, 189, 864 223, 095 300, 605 565, 248 1928, issue for earlier 205,511 220, 308 236, 678 475, 697 50.7 10, 949 219, 571 184, 946 207, 220 230, 962 215, 522 195, 264 389, 822 557, 770 2 Revised. 4 57, 524 4 35, 572 : -38.2 —.4 —2.3 +-3 +10.6 -2.4 +4.9 735, 830 867,881 : I +17.9 -9.7 -1.5 885, 395 917,907 l +3.9 -9.0 +6.0 1, 103, 861 1,089,007 -1.3 -33.4 -27.8 Cumulative through Mar. 31. 26 TREND OF BUSINESS MOVEMENTS—Continued i 1927 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" 1928 PER CENT INCREASE (+) OR DECREASE ( — ) 1927 Apr., Apr., 1928, 1928, from ! from Mar., Apr., 1928 ! 1927 iPer ct. in CI'MULATIVE TOTAL ' FROM JANUARY i crease THROUGH APRIL 30 i ( + ) or cie; crease (-) cumu] 1927 1928 | f ^ge from \ December January 9 18 13 14 I 23 30 132 251 230 163 225 6 i 197 240 1, 560 3. 992 4,303 4, 395 4, 808 4,781 5,031 5: 019 33,350 27. Of.2 6. 2SS 29. 003 30. 973 6, 604 24, 259 18. (191 5,568 17, 570 14,388 5,182 ; 24, 809 19, 56.9 5, 240 9 rt% 70S 03 715 65 2 QOO 3, 200 612 78 3,186 630 3,483 808 76 169 86, 835 4"* "> 185 90. 640 52 9 197 104. coO 195 104,015 56.9 223 113- 435 61. 3 lir> n 149 115 19, 039 17. 579 10S. 0 143 115 20 389 2l' 087 96. 6 96 84 52, 004 61.0 52 3,x3 50, 296 61.945 61. 5 60. 363 50, 056 19.01 17.00 18. 40 20. 26 18. 40 19. 79 87, 666 12.452 9,280 9,554 90,529 27, 669 15, 864 19, 404 101, 393 23, 719 i -20.3 19. 352 i -10.8 17, 627 I -15.0 106 225 +3 3 5-14 474 006 678 28, 994 1 "> 787 15. ,^2 164, 514, 25, 437 13 132 16, 085 101, 042 20, 442 -18.1 ; +41.8 ' : 16 164 15, 610 ; —8.4 i —.2 105, 300 +8. 5 i +56 2 18,039 13,651 7. 994 8, 792 8, 928 17, 261 8, 965 11, 588 15, 326 10, 594 10, 873 70,815 48, 714 53, 598 +9.9 4,303 91 113 | 4,535 91 107 4,127 109 -4.5 +2 2 -4.2 3,553 3,456 — 10 7 February March April | March April IRON AND STEEL Iron Manganese ore, imports thous. of long tons.. Iron ore: Imports • thcus of long tons Shipments from mines thous. of long tons. Receipts — Lake Erie ports and furnaces thous. of long tons Other ports . thous. of long tons Consumption thous. of long tons.. Stocks, end of month — Tot al t lious . of Ion g t ons _ . At furnaces thous. of long tons.. On Lake Erie docks .thous. of long tons.. Pig-iron production: Total United States thous. of long tons Merchant furnaces thous. of long tons.. Cpnad'1 thous. of long tons Furnaces in blast, end of month: "Furnaces number Capacity lone tons prr dav_. Per cent of tot 0 , 1 per cent Ohio grav-iron foundries: Meltings— V-rual . long tors Xonp'd loiif ten 1 ' Ratio to normal per cent of normal ._ Stocks, end of month _ _ p t r cent of nonnul.- ]\ I all e a b 1 e ca sti n gs : Production-.". short tons.. Oper^im: ^r-tivitv T-,<-r ct of cppa;-itv Shipments short tons No w or c lers si ic-rt t ons . . Wholesale prices: Foundry No ^ northern _ . dolls, per long ton.. Basic (valley furnace; .-dolls, per long ton.. Comi)o^it A ]^'J "'Tf-n dons per Ions' ton +7.7 -53.3 733 10, 994 23.015 5 ; 988 65 187 100. 060 53.6 56. 8 i ;.. 2:0 15,342 in! 097 71. 6 105 58 86. S 120 ""ss 105 44,J81 40*209 45,920 £0, 096 41.9 44 4 ON 49,251 54, 031 02 3 4^ 'V,3 51,414 57, 649 67. 0 5i;: 254 50, <V 19. 01 17.00 "K 27 19.01 17.00 18 37 19 01 17. Ou •9.01 17.00 9, 037 1 1, 009 11,511 79, 400 13,341 15.631 10. 620 10, 566 11,235 12! 123 15, 2!5 IG-l 0 is. :o 1 -.6 . 1 : -.4 +2.9 220 < —i o —11 4 -4_ o 58 19,189 i +42.6 -.8 -16.9 112,955 60.4 +44.4 ... +45. 6 0 6 18 ; 2N7 -100.0 -98, 1 -2.8 12,950 , 12, 156 ' -'v. 1 °'256 • ~2b3 -riu'.5 61.641 ! -7.0 4>. 921 ; -12.0 _9.8 98 i -10.1 53^ 002 -11.2 —6.0 4-10 3 -7.4 -5.1 -U19 2 55. 318 55.3 20.04 733 i 316 : 18,808 ; 66.292 55,571 21, 159 +45.0 90.6 ! —1 R 99 i -4.0 79 i 0. 0 20 26 i 19. 00 -41.9 869 . -.7 6 -99.7 :! -6,9 : -19. G i: 784 i 54 863 i 1,560 ! — 100 0 —99 7 i -4.7 —97 n — 1 5 3 20. 753 16. 050 —23 0 —10 4 4, 703 I _(;,9 ; _!_iQ 2 3,422 93 : +38.0 ; -6.2 ! —99.7 00 —62 QO —10 5 00 82 ; 223,599 213,780 -4.4 211,939 20', 34S — '::. 6 88, 754 50, 4f I —43, 1 64,038 62,911 : 41,310 42,869 — o-". 5 -oi.9 87.868 ' p n 9°^ 55,064 119.349 6^ '"•'•'' 70. 2v> -35.3 'u 5 -27.6 61,655 38,863 39,094 59,040 35.553 39.849 -4.2 -8.5 —1.9 Cast-Iron Boilers and Radiators Round boilers: Production Shipments 5 New o^'dcr* Stocks, end of month Square boilers: Production Shipment Q New orders Stocks, end of month Radiators: Production. .thous. sq. Shipments_. -thous. sq. New orders. .thous. sq. Stocks, end of month thous. sq. Gas-fired boilers:* Shipments Shipments Production Stocks end of month js rs it IB i ..fibs.. ofi 1 ! ^ :' ( 11 s uilla... 10,023 13 185 11 340 95,453 t 1 'is t^iors 'hc^s t h e us <d Ibs i ol It s : ot 11 s_. e l ibs.. 18 °65 *?i w? ; 10,781 97, 019 ; °4 743 19 'xi° 18,230 120, 522 131,341 ft. H a t i r u s u ficc_. ft. h e a l i n g su^ace.. ft. heating su'^ce.. ] 1 , 539 13, 193 11,772 12, 5S1 10. 661 9., 990 14. 774 9, 357 12, 139 ft. heating surface.. 53, 793 48, 714 54, 353 64, 467 96, 589 86, 892 i 132 733 846, 845 198, 824 103 250 177,859 8*0, 423 3,176 66 96 3, 991 81 84 4, 045 86 99 4,508 3,973 1 4, 276 4,398 4, 335 3,872 92, 806 64 i 83,795 i 58 '• 32,540 51, 255 102, 836 71 41,232 61, 604 94, 677 66 39, 189 55, 488 81,835 i: 57 32,722 , 49,113 i 90, 041 62 34, 680 55, 361 81, 044 56 32, 279 48, 765 359, 340 108.8 316, 100 103.1 tl ti < T .,< "!i -- dollarsthous. B. t. u thous. B. t. u i thous. B. t. U-.i 10, 407 81,894 '"•0 pr.g \< QfjO 19. 466 165,901 36 liV 17, 151, : -47.5 • -52.0 -45.8 —14 8 ; [ -24.3 i -10.9 -5.7 -28.8 +1.5 -17.9 4-32.2 147 845 217, 385 923, 617 Crude Steel Steel ingots, production: United States, totaL-.thous. of long tons.. Ratio to car>acit^ T per cent.. Canada thous. of long tons. . U. S. Steel Corporation, unfilled orders, end mo. -thous. of long tons.. Steel castings :f ProductionTotal short tons. _ Rntio to capacity per centRailroad specialties short tons.. Miscellaneous short tons. . New ordersTotal short t ons. . Ratio to capacity per cent.. RaP r o-}d specialties ^hort tors Miscellaneous short t ons. _ Sheets, black, blue, galvanized, and full finished: Production — Total . -. net tons.. Ratio to capacity per cent Stocks, end of month — Total net tons.. LTnsold net tons Shipments net tons New orders net tons.. Unfilled orders, end of month net tons.. 58, 346 40 19, 358 38, 988 77, 076 39. 112 : 37, 964 . 260, 130 75.9 274,082 51 28. 714 2 45. 308 291,072 63 41, 276 2 49,796 316,541 89.6 150, 104 170, 453 52, 474 59, 508 221, 689 274, 126 302, 921 530, 197 745, 393 694, 197 * See table on p. 18 of the April, 1928, issue for earlier data. 2 2 2 2 89 118 87, 323 60 2 37,719 238,448 2 49, 604 90, 677 2 63 41,096 49, 581 330, 565 98.7 169, 918 55, 594 298, 420 266, 210 667, 054 i t 54, 358 2 2 2 82, 536 57 30, 992 51,544 366, 127 103.0 327, 909 97.8 163, 053 160, 357 53, 853 46, 827 327, 674 338, 436 284, 070 345, 900 571, 761 510, 924 See table on p. 20 of the March, 163, 846 53, 144 359, 532 399, 441 675, 196 ; +4.3 +58 +3.7 ; : 16,8-17 —3.6 414 —25. I 373,514 338,006 -?. 5 149,780 223,734 : 137,421 200,585 -S. 3 -10.3 373,547 346,120 -7.3 146, OS*'1, 200.034 -i». 7 —5.5 1,341,142 —10.4 +12 0 >: -9.7 ;i -11.5 ' —9 4 —12 1 -15.4 -17.0 -5. 7 -7. 6 -.8 : 331 i 16,264 ; +1.0 :! 0.0 +1.8 ; L _ _ +5.6 +1.4 161,775 i -4.7 | + . 7 | j 211,772 i -10.4 ; —5 0 l +3.7 : | 1, 214,467 —5 1 ' : -4.1 " . +14 8 +8.9 : 1, 139, 725 1, 259, 752 +10. 5 -3.0 ! 1, 142,173 1,252,642 , +9.7 +16.4 L _ _ 2 1928, issue for earlier data. Revised. -.5 169, 977 46, 901 +1 3 300, 858 -8.9 292, 965 -28.9 491, 290 i -15.3 27 TREND OF BUSINESS MOVEMENTS—Continued 1927 1928 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" ber ' February March March April April i i Apr., 1928, from Mar., 1928 Apr., 1928, from Apr., 1927 +4.9 +4.4 +2.7 +11. 5 -5.0 -10.3 +11.3 +6.9 +8.7 + 14.1 -6.5 -20.9 Per ct. increase CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 PER CENT INCREASE (+) OR DECREASE ( — ) 1927 j or decrease cumulative 1928 from 1927 1927 1928 2, 208, 892 2, 299, 532 +4.1 2, 206, 612 2, 294, 991 +4.0 IRON AND STEEL— Continued Crude Steel— Continued Steel barrels: Production barrels 444,227 Ratio to capacity. ._ _ . per cent.. 40.6 Shipments barrels 454,638 Stocks, end of month barrels _ 52,606 Unfilled orders, end of month barrels.. 1,308,365 Track work, production short tons.. 9,139 Iron, steel, and heavy hardware sales rel. to Jan., 1921 166 Lock washers, shipments thous. of dolls.. 183 Wholesale prices: Steel billets, Bessemer. .dolls, per long ton.. 33.00 Iron and steel, comp dolls, per long ton.. 35. 10 Structural steel beams. ..dolls, per 100 Ibs.. 1.80 2.46 Composite finished steel .dolls, per 100 lbs_. \ 475, t 06 518, 944 : 42 .7 46. 2 i 474,1 59 514. 362 58, 935 i 54,2 53 1,351,7 97 1,417,627 ! 9,2 32 11,371 667,827 636, 855 575, 850 599, 771 55.1 57.5 53.8 51. 7 644, 521 661,949 568, 821 609, 090 51, 269 57, 147 59, 389 50, 070 1, 343, 583 1,276,994 , 1, 545, 980 1, 365, 555 13,511 ! 15, 058 19, 216 17, 081 t ! j 1 57 5 19 ! 1 i | 33. 00 35. 27 1. 80 2. 47 33. 00 35. 57 1. 85 2. 52 33. 0.') 35.81 1. 'JO 2.54 262, 500 i 213/"50 70 57 240,000 ! 210, (>00 64 i 56 266, 250 71 2 932, 500 62 258, 750 69 2 232, 500 62 236,250 ; 63 243, 750 ; 65 | 232, 500 62 221, 250 59 2''2, 500 70 232, 500 62 —8. 7 +4.8 +4.8 2 45, 505 57. 0 24, 596 39, 957 48,493 i 60. 7 • 21, 330 35,971 55, 407 68.9 24, 127 48, 032 47, 347 58 9 18, 019 39, S97 -l.j.?, -10.0 2 1 947 2 1 337 1 325 ' 1 295 i 1 413 1, 492 1 "18 1, 190 4-6 3 -3.1 187 293 158 236 270 : 3P. 00 L 90 2. 51 200 302 34. 00 36. 82 1. C'f1 9 55 199 273 — 7. 8 33 95 36.76 1. 90 ' o -- 49,~272~ ~-2i.~7 62," 944" -1.1 j 1,018 1,036 ; -1.7 0 0 -.4 i -3.0 0.0 i 0.0 1 A 12 Fabricated Steel Products Structural steel, fabricated:* New orders (prorated) short tons., Ratio to cnoac'itv per cent Sbipm^r's (profited) short ton^ Ratio to capacity per cent Steel plate, fabricated, new orders: Total short tons _ Ratio to capacity ner cent Steel bars, cold finished, shipments* tons.. Steel boilers, new orders: Quantity number Area thous of sq. ft Steel furniture: Business groupShipments thous. of dolls _ New orders thous. of dolls.. Unfilled orders, end mo.thous. of dolls.. ShelvingShipments thous. of dolls ; Unfilled orders, end mo.thous. of dolls.. Iron and steel: Exports lone tons.. Import^ long tons 35, 658 35 ""87 44 1 13.367 ; 28,497 ; 4- . 8 11, , 01 45, ()10 1 nr )4 : ' 906 1 ( u.9 49, 820 62. 4 25, 532 40,354 nan 975,000 : +4.4 851,250 918,750 : +7.9 ION, 251 179,605 -9.4 89,471 162.22. 82,559 1G1,21J2 -0.6 1J.il -13. 1 i 5 OS3 5, 551 4, 600 4,669 —9 5 -15.9 +6. 6 4-3 1 +1«. 1 -'j.S 8^9 1 1 f>5 2,741 : 2,850 ! 1,414 : 2,f "13 3. i>48 2, ()00 2, 909 A\ 296 2, 389 3,169 3, 283 3,066 2, 915 ' 2,360 3, 081 3, 022 1, 744 2, 850 2. 751 1, 646 -3.3 -11.2 -6.1 +7.6 \ +6.0 ! +43.4 11,348 11,431 , 11,856 12, 743 +4. 5 +11.5 578 : 619 : 606 i f >80 "69 t]80 682 741 743 832 841 775 716 741 i 794 ; 691 690 679 f»7S 622 627 -13.9 -11.9 +2 5 +5. 6 +19. 1 +26 6 >: 2, 532 2, 546 2, 910 3, 092 + 14.9 +21. 4 168,428 55,070 | 205, "66 49, ( )03 185. 915 36, 861 221, 935 58, 666 171,094 47,312 192, 339 42, 550 -3.0 -5. 3 744, 796 163, 989 ; 828, 800 200, 997 +11.3 +22.6 26, 053 23 253 -10.7 26, 098 24, 042 -7.9 215,181 55, 567 Enameled Ware F( rcclt-in Hut ware: New orders.— Tot'i 1 Ratio to capacity Shipments — "Tot'-d Ratio to C'i'ipcity 933, 750 -10.0 -10.0 +4. 8 +4.8 +11.9 +30.6 ^ thou^ of sq ft | per cent.. 4,895 44 j 5,'121 45 | 5,378 45 7, 024 5, 430 45 7, 571 59 5 58') thous of sq ft per cent 5,609 ! 44 j 5,<173 46 5,821 49 6, 520 54 6,219 52 7, 567 59 6, 5£6 -2.8 0.0 —4. 7 -3.7 —5 7 0.0 i Machinery Vacuum cleaners, shipments (qtly)... number..1 3 309, 998 Washing-machines, shipments: Total number 69, 945 Electric number ! 56, 999 Wnter softeners, shipments units 1, 106 Water svstems, shipments . • units 5,980 Pumps: Domestic shipments — Pitcher, hand, etc. ._ ... ... units 38,148 Power, horizontal type . . units 1, 370 3 3 274, 089 74,830 61,944 1,396 6, 076 90, 770 74. 610 1, 956 7, 873 1,489 8,182 81, 522 64, 961 1,811 5, 896 94, 725 78, 993 1, 878 6,387 -23.9 +3.9 51, i322 1, t >91 51,999 1, 598 52, 946 2,578 42, 990 2, 299 42, 532 875 47, 430 776 -9.4 ! -18.8 -10.8 +196.3 New orders thous. of dolls 1, 300 1, L37 1, 346 1,418 Shipments.. thous. of dolls 1. 255 1, 38 1, 177 1 352 Unfilled orders, end mo.thous. of dolls. _ 1 3, 125 3, L12 3, 309 3, 260 Agricultural machinery and equipment: Shipments — Total rel. to 1923-25.. 90. 7 11 1 0 168. 8 2 216 0 Domestic rel. to 1 923-25. . 82.4 11 7. 2 159. 4 2 216. 8 Foreign rel. to 1923-25. _ ! 133.8 10 3. 9 218. 2 2211.4 2 Production . . rel. to 1923-25 136.0 13 X 7 136. 5 143. 9 Foundry equipment: New orders rel to 1929-24 106.8 12 1. 7 138. 6 123. 6 Shipment? rel. to 1922-24 110.4 11 14 147. 9 110.6 Unfilled orders, end mo rel. to 1922-24.. 103.5 12 1 6 127.1 132. 9 Stokers, mechanical, sales: Quantity _ . number 83 123 75 85 Power horsepower _. 32, 202 26,. 572 43, 643 43, 425 Machine tools: New orders rel. to 1922-24 i 169 222 218 201 Shipments rel to 1922 24 i 157 ! 149 175 210 Unfilled orders, end of rno-.rel. to 1922-24.. ! 192 293 330 376 * See table on p. 21 of the March, 1928, issue for earlier data. 2 Revised. — IS 6 252 373 G8, i340 i 56, -28 j 1, 268 6, "46 i ! ! | —7 9 !,' -20.7 +28.1 1 800 1 482 3, 686 1,405 ! 1 565 i 3, 525 187.4 185. 1 199. 8 136.0 -14.7 154' 8 ; — 16 0 139.2 • -7. 1 145.9 107. 7 112.5 126. 1 131. 1 130. 0 _2o 3 -23. 9 — 8 88 31, 043 115 49, 694 26, 249 -28.5 ' +14.3 -28.5 : +18.3 222 219 371 152 158 226 126 138 216 0.0 +76.2 +4.3 i +58.7 -1.3 I +71.8 184.3 182. 2 196. 4 152. 1 ! 4 4 223. 182 6, 22, 182. 166 i 2,954 4 4 4, 824 ! 4, 081 i +21.0 4-17 7 1 +41. 1 199, 757 8, 066 4 4 3, 901 3, 667 +9.7 + 173.1 -19.1 -10.1 i i —17 9 366 ' 157,810 3 Quarter ending in month indicated. Cumulative through Mar. 31. 4 299 ! i 234, 440 +5. 0 790 I 4 193, 282 | +5.7 6, 109 —4.5 399 ; 28, 877 +30. 4 144 i 371 + 1.4 144, 683 | -8.3 28 TREND OF BUSINESS MOVEMENTS—Continued The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 20 to 138 of the February, 1928, "Survey" 1928 1927 December January February March April March Per ct. increase j ! PER CENT IN- : : CUMULATIVE TOTAL CREASE (+) OR , ; FROM J A N U A R Y 1 I DECREASE ( — ) THROUGH APRIL 30 1927 April 1 IRON AND STEEL-Continned Apr., 1928, from Mar., 1928 i |: |. j j ; Apr., I ; 1928, ! from ' i ; ADr., : ! i 1927 j j -y 1927 1928 4 i 4,284 M, 055 3, 4097 38 * 3, 707 4 3, 623 4 2. 874 '•153 -13. 5 -10.7 -7.2 +39. 5 +38.7 i | +42.6 i i +36.4 i ! 1,106 565,521 545,019 1,696 791, 550 703, 809 +53.3 +40.0 +29. 1 -27.5 ' ! 3,612 -37.9 !" 2,992 —45. 2 . 2. 358 1,991 -34.7 -33.5 ; 1 ( or decrease (-) cumulative 1928 from 1927 ' Machinery— Continued Woodworking machinery: 4 New oiders thous. of dolls 1,305 1,172 Shipments.. thous. of dolls Shipments number of machines 881 19 Cancellations thous. of dolls Unfilled orders, end of mo_. thous. of dolls.. 1,470 Electric hoists: New orders — 272 Quantity number 122, 663 Value dollars 102, 205 Shipments dollars Electric overhead cranes: 762 Shipments.. thous. of dolls . 586 New orders thous. of dolls__ 1,792 Unfilled orders, end mo thous. of dolls.. Electric industrial trucks and tractors: Shipments, domesticTractors . number of vehicles.. J! All other types number of vehicles.. 11 Exports. _ . . .number of vehicles.. Fire-extinguishing equipment, shipments: 114 IVtotor vehicles number 47, 870 Hand types number Patents issued: 3,170 Total all clashes number 42 Agricultural implements .number . 33 Internal-combustion engines number.. 1,145 1,130 920 23 1,456 1,245 1,147 890 9 1,539 1,317 1,346 1,064 21 1,438 346 160, 852 133, 842 399 172, 472 166, 920 557 260, 222 214, 080 394 198, 004 188, 967 291 144, 305 139, 528 2 8 4 ! ' -29.3 138,829 : ; -23.9 138,510 i; -11.7 432 358 1,735 595 519 1,763 672 704 1,699 659 410 1, 520 1,065 750 3,042 909 -1.9 660 ! -41.8 2, 772 1 —10. 5 5 98 15 86 18 18 97 16 9 122 6 10 96 10 291 43, 175 40, 710 2 108 52, 375 101 46, 575 128 50, 301 Q 3,504 45 51 3,136 32 61 68, 469 77, 429 122, 723 140, 546 64, 824 52, 095 67, 423 81,895 124, 848 144, 546 73, 789 43, 092 96, 476 237, 961 .1385 86, 932 247, 529 . 1382 99.44 98.59 98.40 492 404 1,213 381 316 449 425 1, 189 414 315 435 453 1,150 399 297 413 441 4, 535 3,229 49 52 1, 502 1,570 1,184 10 1,747 3,321 i 45 1 43 | 4.067 53 79 1.307 1,516 1, 068 31 1,549 i ! : 4 12 1 -50.0 -25.0 ' 89 ! +25.8 +37.1 : 4 ! -62.5 +50.0 ; •j . i 125 l -6.5 -19.2 1 47,850 1 -11.1 -2.7 ; 3,554 ! +2.8 50 i -8.2 124 -17.3 39 372 38 438 192,807 +20.5 403 -. +8.3 49 +28. 9 373 182,835 -14.8 -5.2 : -6.6 i -10.0 ; -65.3 13,798 193 322 13, 190 171 207 -2.7 +1.4 ; -2.4 +5.7 i -2.4 -2.9 285.836 331,689 508,554 548.283 297,576 173.277 275, 449 320. 521 499, 367 573,301 283, 489 188, 947 +4' 6 -4.7 +9.0 1.947 1.673 1.831 1,735 -3. 4 +3.7 -4. 4 -IE! 7 NONFERROUS METALS Copper Production: Mines. _. short tons.. 67, 222 Smelter . short tons.. 85, 868 Refined (N. and S. America). ..short tons.. 128, 923 World production, blister. ._ short tons_. 148, 961 Domestic shipments, refined short tons_. 00. 862 Exports short tons . 51, 322 Stocks (North and South America), end mo.: Refined .short tons . 95, 298 Blister . short tons.. 248, 420 . 1377 Wholesale price, electrolytic dolls, per lb._ 2 70, 327 79, 110 128, 972 144, 842 72, 642 48, 210 69, 230 82,087 122,824 143,427 72,234 45,550 87, 292 242, 416 .1385 : j 69, 314 80, 965 126, 975 136, 347 79, 537 45, 306 71.122 80,940 125,796 135,729 73,976 46,908 72,893 ! 235,673 ! .1399 I 103, 072 263, 793 .1308 99,256 i 16.5 249.834 i -2.8 . 1281 '< +1. 0 99.35 100. 76 105. 17 105 29 +1.4 —4 3 584 452 1,141 400 269 413 405 1, 147 399 283 510 434 1,192 397 314 468 400 1,263 302 300 : —29.3 ! -10.4 ; +5 i 2 : -f,5 2 , —11.8 +1.3 —92 4-23 9 —57 412 422 438 339 5, 415 5,790 7, 960 7,010 15, 733 1, 573 3, 958 . 5849 15, 244 2,518 5. 727 . 5564 17, 645 1, 998 5, 992 . 5249 15, 586 2,078 8, 138 .5218 77, 084 52, 347 40, 751 72, 204 52, 414 42, 163 72, 444 50, 042 41, 290 54, 586 43, 147 .0572 37, 612 49, 905 .0564 2 j ! j ! i i | -1.6 +3.8 -4,8 -1.0 -.6 -5.5 26.6 -5.7 4-9. 2 9 p -3.4 . Copper Products Plumbing fixtures: Wholesale price 6 pieces dollar^ Wire cloth: Production ..thous. of sq. ft.. Shipments .thous. of sq ft.. Stocks end of month thous of sq ft New orders tlious of sq ft Unfilled orders, end of mo_ .thous. of sq. ft_. Make and hold orders, end of month thous. of sq. ft 358 • 1 019 +3.8 +22.3 6, 545 6,720 i -11.9 +4.3 25, £25 20. 175 15,001 i 1,973 1 9,494 i . 5236 15, 441 1, 709 5,9J6 . 6931 13 849 —38 1,704 ; —5.1 6,228 J +16.7 .6802 +.3 +8 3 +15.8 +52.4 • —23.0 24.844 _ 29.351 : +18.1 71, 252 55, 881 41, 529 72 522 53^ 493 44,759 83, 208 56, 546 36, 279 81,096 51, 626 41 20S 47, 217 52, 398 .0555 47, 972 59, 746 .0562 51,579 49,097 : .0576 69, 125 18, 533 . OGG9 71,077 :: +7.5 ! —27.4 ' 2J, 536 -17.8 +128.0 .0634 I +2 5 —91 256,640 184, 380 54, 991 2 58, 031 50,115 61, 128 60,193 ! -13.6 234,855 217, 543 6,665 72, 264 54, 021 167, 692 .0633 6,424 77, 054 52, 150 2 173, 411 .0600 41.026 268,883 5 ice, 431 26. 990 283, 574 3 162, 141 -34. 2 4-5. 5 -2.6 4,470 1,027 3,444 4,928 1,025 3,903 21,330 4,444 16,886 19, 170 4, 064 15, 106 -10.1 -8.6 -10.5 Tin Deliveries ( consumption) .long tons.. Stocks, end of month: \Vorld visible supply Ion*7 tons United States ^ong tons Imports long tons.. Wholesale price, Straits,* N. Y. ..dolls, per ib._ 1 _O : Zinc 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_. Lead 54, 406 Production _ short tons.. 58, 812 Ore shipments: 7,463 Joplin district short tons.. 13, 079 75, 855 Utah short tons.. 83, 003 55, 970 Receipts in U S ore short tons : 57, 027 Stocks, U. S. and Mexico, end mo__short tons.. 156, 280 : 157, 417 .0650 .0650 Price, pigs, desilverized, N. Y dolls, per lb.. 6,438 ! 58, 401 .0610 10, 164 66, 358 58, 364 145, 766 .0758 4,843 1,118 3,725 5,626 1,208 4,418 12,602 76,452 60, 134 160,437 .0713 +1.8 -10.6 -4. 3 , ! 3. 6 +7 8 ; + 8 6 -16.7 i +.2 : j -24.2 i -48.9 '• -23.6 • • i +1.7 —14 4 ! -2.1 216. 411 ""2iI,"S30" — 28 2 -7.4 Other Metal Products Babbitt metal, consumption: 4, 466 Total apparent thous. of lbs__ i Direct by producers thous of Ibs 1 1, 296 ! 3.170 i Sale to consumers thous. of lbs__ * See table on p. 23 of this issue for earlier data. 2 Eevised. 4, 929 894 4, 034 4 5 4,812 j —1.7 | +.6 950 | +9.1 ! +17.7 | 3,862 i] -4.6 i -3.5 ! See p. 41 of Part II, Metals and machinery of the Record Book of Business Statistics, for earlier data. Cumulative through Mar. 31. 29 TREND OF BUSINESS MOVEMENTS—Continued j 1927 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" December 1928 January February PER CENT INCREASE (+) OR DECREASE ( — ) 1927 March April March April Per ct. increase CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 Apr., 1928, from Mar., 1928 Apr., 1928, from Apr., 1927 1927 1928 -16.3 -11.1 -19.8 -17.1 -8.7 -2.1 -14.1 +4.3 1,871,152 660, 515 1,113,484 97, 153 1, 624, 746 633, 602 891, 638 99, 506 or(1^ decrease (-) cumulative 1928 from 1927 NONFERROUS METALS— Continued Other Metal Products— Continued Band instruments, shipments: Total -_- __. Cup mouthpiece15 Saxophones Wood wind Pails and tubs, galvanized: Production Shipments Other galvanized wareProduction Shipments \ dollars__. dollars _ dollars ..dollars.. 589, 967 223, 946 340, 266 25, 755 318, 106 126, 852 169, 050 22, 204 445, 737 169, 616 247, 489 28, 632 468, 757 178, 457 263, 685 26, 615 dozens dozens 93, 273 90, 254 125, 536 149, 304 165, 757 162, 153 173, 592 175, 472 dozens dozens 22, 090 17, 013 32, 678 35, 689 28, 513 26, 334 50, 904 45, 205 392, 146 158, 677 211,414 22, 055 ! 559, 663 193, 961 337, 206 28, 496 429, 411 162, 103 246, 168 21, 140 202, 392 182, 692 183,812 198, 711 32, 942 30, 980 30, 423 33, 785 108, 688 168. 148 88, 755 148, 789 2,324 2,011 1, 532 3,390 1,121 1, 508 505, 213 510, 548 4 1, 439, 113 ' 4 2, 238, 926 \ +55. 6 736, 081 737, 349 4 4 2, 502, 648 4 2, 226, 627 i -11.0 2, 239, 791 .<2,048,546 J -8.5 -13.2 -4.1 -19.9 +2.4 4 472, 187 4 490, 216 4 464, 885 4 486, 929 -1.5 4 4102, 979 99, 185 4 4 112, 095 107, 228 +8.9 +8.1 192, 557 357, 539 1, 291, 789 -33.4 -11.9 Electrical Equipment Electrical procelain, shipments: 65, 809 66, 391 49, 536 77, 212 Standard dollars 110, 933 111,408 131,212 115, 394 Special dollars 444, 804 451, 894 High tension dollars 408, 401 438, 5'84 2,441 3,201 3,363 1, 297 Glazed nail knobs thous. of pieces 794 1,091 1,070 Unglazed nail knobs thous of pieces 1, 381 1,383 1,127 975 1,087 Tubes thous. of pieces Laminated phenolic products, 564, 775 877, 401 shipments dollars 677, 861 683, 664 Motors: 864, 562 889,110 New orders dollars 569, 883 767, 634 782, 185 638, 562 627, 799 Billings (shipments) dollars.. 815, 830 Power switching equipment (quarterly): New orders — 3 311. 901 12, 267 Indoor single pole units Outdoor single pole units s i 4 fi?.4 > 3 14, 234 Outlet boxes and covers, shipments pieces.. 1,947,433 j 2, 139, 038 2, 715, 105 3, 166, 488 Vulcanized fiber: 596 663 662 Shipment'-! to^al thou^ of dolls 685 2, 231 2, 355 2,442 2, 965 Consumption thous. of Ibs 140,415 j 137,417 Industrial reflectors, s'ii^s units 137, 102 118, 363 Flexible coids: 37, 764 35, 082 37, 279 2 42, 390 Shij menls thous. of ft.. 44, 958 Stocks, end of month thous. of f t _ _ 46, 222 51, 396 47, 277 1, 078, 639 802, 572 4 4 3 1 5. 208 '• z 17 500 ' 2,093,021 1, 960, 806 i : ( )1Q 3,002 135, 084 : " +3 1 ...9 7 — 19 3 18 7 -I 4 ! ^6,406,861 r 4 8, 020, 631 ; +25.2 4 4 4 9 zUF, 7% 2. 701 115, 111 ." 4 4 288, 947 405, 872 4 4 "" " ; j" 8, 312 403, 595 4 2, 010 | -17.8 7, 762 j -6. 6 392, 882 1 -2.7 ~"\\ " " Electrical Equipment Welding sets, new orders: Single operator units. . 129 Multiple operator units 11 Panel boards and cabinets, 821,487 shipments (cstlv ) dollars 6,735 Nonmetaiiic conduits, shipinents.-thous. of ft.. Delinquent accounts, electrical trade: 197, 462 •Yn'ount dollars Delinquent firms number 1,381 12S 7 172 21 285 31 142 153 8, 085 6,755 916, 766 8,270 738, 119 10, 886 10, 365 184, 500 1,361 184, 688 1,407 213, 013 1,769 242, 606 2, 040 247, 479 1,930 173, 482 1,485 ::. 4 +11.6 +24.2 -18.6 -16.1 -29. 9 -23.3 399 4 5 8 5 ij +40. 9 4 59 i +68. 6 4 29, 838 ~"~23,~lI6~ ~-22.~5 AUTOMOBILES Production: United States133, 579 394, 443 404, 759 Total number of cars 231, 693 2 323, 809 2 413, 379 409, 948 -.8 +1.3 1, 342, 892 1, 378, 829 +2.7 364, 877 345,911 357, 009 -1.9 +5.7 Passenger cars number of cars.. 106, 080 205, 576 2 2291, 151 2371,821 +2.2 1, 166, 741 1, 233, 425 45, 071 27, 499 48, 532 +8.5 145, 404 — 17. 5 Trucks. number of cars.. 26, 117 32, 658 2 41, 558 176, 151 47, 750 -5.6 CanadaTotal number of cars.. 3,435 12, 504 9,724 24, 240 23, 250 24, 611 ,+149.3 54, 931 -32.9 8,463 -1.5 81, 892 2,277 19, 723 45, 044 -33.0 Passenger cars* number of cars.. 67, 184 6,705 10, 315 20, 546 -1.6 7,478 20, 890 :+174. 8 1,158 Trueks number of cars.. 3,694 i 3, 527 3,721 +64.5 14, 708 9,887 -32.8 1,758 2,189 2,246 Exports (assembled): From United States158, 255 +7.2 Total number of cars. _ 23, 609 49, 974 42, 269 39, 527 147, 589 32, 060 33, 952 46, 703 -15.4 -9.fi! Passenger cars number of cars 33, 644 -3.4 : 119, 415 +10.3 16, 473 34, 840 -16.3 108, 302 20, 476 25, 114 40, 181 29, 985 Trucks number of cars. . 9,542 7,136 11, 584 39, 287 38, 840 8,838 9,793 8,625 11, 863 -11.9 -27.3 From Canada— 2,193 Total number of cars 3,502 4,111 9,072 -1.9 25, 921 15, 166 -41.5 3,557 3,996 4, 075 +12.3 1,857 2,957 6, 512 +.9 10, 109 -44.9 Passenger cars number of cars.. 1,838 18, 335 2,628 2,686 2,930 +10.1 Trucks number of cars 336 1,664 871 -9.3 5,057 -33.3 1,483 1, 039 7,586 2,560 1, 145 +19.3 +4.4 -23.9 Foreign assemblies . number of cars 12, 518 12, 114 16, 951 21, 007 22, 264 74, 368 57, 859 -22.2 12, 556 16, 238 Sales, passenger cars and motor 4 4 404, 475 -10.1 141, 026 214, 678 449, 781 cycles _ _ . thous. of dolls. . 63, 381 64, 403 199, 046 181,170 Shipments (General Motors Co.): 689, 831 +24.3 60, 071 197, 821 197, 597 +16. 9 j 554, 770 To dealers number of cars 169, 067 125, 181 169, 232 161,910 632, 380 +24.1 132, 029 509, 416 To users . . number of cars. _ 53, 760 107, 278 183, 706 209, 367 146, 275 180, 106 +14.' 0 +16.2 Accessories and parts: Shipments — 111 187 231 213 -7.8 +15.1 Original equipment.. rel. to Jan., 1925_. 163 195 185 126 151 137 128 136 120 117 +11.0 +29.1 Replacement parts.. .rel. to Jan., 1925.. 61 -5.3 -31.4 ! Accessories rel. to Jan., 1925 79 91 113 107 135 156 -- i ! '|l 104 174 — 5 7 -26.5 142 158 164 Service parts rel. to Jan., 1925.. 210 223 Exports _. thous. of dolls. . 7,505 7,489 9,570 12, 157 12, 466 10,438 10, 609 +2.5 +17.5 ; 7,374 8,354 +13.3 Rim production thous. of rims. . 1,134 -4.3 +12.4 1,812 2,072 1,806 2,420 2,316 2,060 New passenger-car registrations: 4 2 4 555, 822 -9.9 254, 723 616, 780 Total number of cars 89, 189 2 135, 2 261,111 327, 599 843 165, 256 2 4 2 4 25, 623 +23.5 7,253 2 7, 436 10, 241 20, 745 Highest price group number of cars 6, 817 11, 370 16, 136 4 126, 080 4 120, 518 -4.4 2 57, 728 53, 461 73, 850 Second highest group number of cars.. 26, 280 2 32, 515 22 34, 542 4 26, 805 22 43, 330 2 56, 990 128, 781 < 169, 694 +31.8 Third highest group number of cars 50, 004 76, 360 75,312 2 134, 587 4 336, 879 4 238, 120 28, 515 112, 820 -29.3 Lowest price group number of cars 52,2 630 2 72, 670 161, 489 2 4 4, 295 4 1, 867 -56.5 336 2604 712 1, 565 551 832 Miscellaneous ...number of cars.. 2 * Cumulative through Man 31. 3 Quarter ending in month indicated. Revised. *See table on p. 18 of the April, 1928, issue for earlier data. 30 TREND OF BUSINESS MOVEMENTS—Continusd i 1927 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" PER CENT INCREASE (+) OR 1937 December Exnort> -thous. of bbls-. i *>~>h Consumption ^hous o f b h i s ^ sio Stocks at refineries, end mo -thous. of bbls.. 7. hbl) Price 150° \va r er white doll^ per tral . 07 J Gas and fuel oils: 33 090 Production thous. of bbls. Consumption— : By vessels thous. of bbls 4 oru By electric pow. plauts.thous. of bbls.. 649 By railroads thous. of bbls.. 4, 211 Stocks at refineries, end mo.thous. of bbls.. 3l,9S2 Price, Okla., 24-26, refineries-dolls, per bbl.. .800 Lubricating oil: Production thous. of bbls. . 2, 801 Consumption thous. of bbls.. 1, 663 Stocks at refineries, end mo -thous. of bbls... 7, 860 Price, cvlinder oil dolls, per gal._ .245 Asphalt: 263 Production thous of short tons Stocks, end of month. .thous. of short toris.. 221 Imports thous. of short tons _ 9 Coke: Production thous. of short tons.. 108 Stocks, end of month. .thous. of short tons.. 345 Wax: Production thous. of Ibs 54, 039 Stocks, end of month thous. of Ibs.. 167, 214 F January April ^™- ! March ! March April Apr., 1928, from Mar., 1928 Apr., 1928, from : Apr., 1927 i 1927 ! 41,351 i 1, 414 ! 796 | 43,955 1, 405 756 32,188 |! 1,123 ! l 711 !j 305 306 '; 60,147 1,408 1,376 319 267 i 3,695 8, 304 3, 400 ! 7, 872 ; 3 470 ! 8, 265 ' 6, 192 257 5, 964 | 233 6, 548 252 51, 500 > 48,300 i 75, 000 1.84 4. 093 9.21 1.86 i 4.069 ; 9.28 i 1.92 4.045 9.26 ! 1.76 4.016 9. 20 I 5, 690 233 5. 582 ; 224 | 5, 497 i 189 6,909 ! 182 | 13, 130 15.08 13.282 f 15.09 i 376 3, 880 179 65 390 ! 3. 723 ! 167 i 76 9 78 9 71 42 i 3."^ P 25 i 13.207 15.08 2.06 4.281 9. 74 2.12 4.265 8.95 . -8.3 -17.0 -5.8 +2.8 6,098 156 7, 127 201 +25. 7 -3.7 39 44 13. 339 15. 36 12.932 14. 61 290, 110 320,979 i 2325,135 328,354 '. 252,678 42,361 I 43,609 j 43,225 37,432 1.213 ! 836 1 1.190 949 °7, X7'* 1, ^7 3 *,1L> 2') 9*9 ! 26,775 3,279 3,326 1 21, 136 ' 36,11710 38,782 ! 824 25,638 762 23,678 828 -7.6 +8.7 3,210 i 14, 728 ; 677 ! 2J 4 i 1,592 15. 593 ' 695 277 -50. 4 +5. 9 -i-2 7 +29. 4 287,243 287,544 +.1 17.192 268, 004 24,687 278, 897 -t-43.fi + 4.1 +6.8 -37.1 5,672 3,510 -r-3S. 1 +10. 4 — 9. 4 + 1S. 1 + 10. 0 107,447 12,520 13,441 bl,963 , 113,231 13.541 14,739 91,825 —5. 4 — s. 2 -51.6 +5.9 +.6 +24. 0 -L. 9 3.49 -j-. 7 -21. 5 72, 590 i -3.9 —.6 297,895 +.8 +24.7 260,410 37,485 +1.0 +26. 1 + 15.3 -4.5 29, 332 3, 469 4,044 25, 712 27, 886 3, 271 3.117 22, 464 26,577 3,171 3.424 23,371 40,229 842 '; 40,210 832 52,410 697 52.379 ' 788 0.0 -23. 2 +5.6 | .205 .162 5?9, 487 .194 .153 , 601,016 0.0 0.0 -12.4 —3 3 ! .170 .148 : +.3 + 1.3 £:J ^ -3.1 -9.5 ! 29,245 3,426 3,777 24,041 1 : -1-6 7 +39. 3 -4-9. ," _J--~> f; 4 1,468 i 3,234 7. 733 .069 ; 1,342 3.356 8, 753 .083 : 32,377 31, 856 -0.6 +6.3 127, 354 i 131, 143 4,275 i 4.204 549 2 4, 194 i 23 732 I 1.063 ! +.9 + 1.7 ! 3,874 639 2 3,724 29 501 1.219 15, 605 '- 2, 1 33 * 12, 207 ; 18, 045 4 1 730 4 12, 008 3,026 ; 2,362 j 8, 018 ! .221 2,754 2,334 8, 035 .250 270 269 1 8 i 274 274 i 222 235 107 352 109 : 342 ; 30 944 ' 34 071 3, 783 589 2 4, 048 29, 6'r3 .800 3,751 540 2 3 , 853 29,011 .850 4.236 601 24,106 29,170 .850 2, 658 1, 606 7, 978 . 245- 2, 728 1,533 8.332 .245 2, 905 1,988 8,412 .223 1,325 2,737 i 7,826 j .069 ; 33,857 ' ; | 49,068 ! 50,207 i 55, 320 168, 900 166,244 j 136,465 i * See table on p. 21 of the Mar ch, 1928, is sue for ear ier data. - 29 499 .840 +6. 7 + 10.8 + 18.2 -1.2 -0.0 +9. 2 — 19. 9 +16. 5 -11.4 — 12. 7 18,976 6. 148 12,604 ~i24~3~ ~~+n~ -1.2 —21 0 2,615 i +4.2 1,712 +18. 8 —4. 7 8, 176 — 9 .254 + 15. 7 +38.0 -1.9 — 13 0 —12! o 1,676,013 * 1,S90,OG2 ' -12. S 4, 608 1,833 2, 776 8, 725 .079 3^ 271 ! -4.9 -. 1 779 -16.0 3, 708 ! -3.4 170 ! -3.9 50 -16.2 9 -11. 1 -5.8 -1. 1 -T-L2 +5. 3 0.0 +1.3 1, 197 24,939 985 -3. 1 -2.9 -.9 -21.0 -.9 45 1 26,215 986 ; 29,460 88.383 4. 063 66,624 77 1. 114 1, 528 1,541 l 3,221 ! 7,692 ; .070 ; 100 337 890 3, 880 172 46 1, 347 161,702 5, 625 3, 113 ^ 10, 625 « 24, 441 29.568 89,796 4.434 68, 741 77 1.335 1, 417 .170 ! . 170 . 147 | . 148 1 602 361 1 687, 568 209 ! 230 : 4 : 1 !• j. -.'e 204,607 5, 677 i 5, 706 ! * 10, G99 ' •» 25, 937 ! 18,752 91,301 5,661 : 72. 979 79 . 1.190 961 2, 3-t5 2, 742 7 'TO .070 103 330 -4.9 -4.0 371 579 : i /2° 199 209 -4.8 -3.6 75,304 19,633 94,484 6.845 72, 124 2 6, 557 253 72,127 20,110 j 94,797 ' 6,036 i 65, (501 -11.3 6.977 256 3 65 21, 493 94. 327 K 145 'A 1(H +.3 345 9 74 275,037 —7 2 -14.6 -43.5 3 278 7,693 9 79 : 303.340 ; 2368, 74 i 317, 72" 41, lh? . 117U . 13 fuO. 13i 12. 794 14. 64 -26. 8 -20.1 -8.0 322 377 3, 925 171 62 68,059 H 6,235 ' 243 ' 34, 674 1,315 1,258 3,520 8,662 449 4, 065 | 178 74 ! 1928 1 | I 44, 208 1, 683 850 Per ct. increase (+ } , or decrease (-) cumulative 1928 from 1927 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 DECREASE ( — ) FUELS Coa! and Coke Bituminous: ProductionUnited States thous. of short tons_. 41, 277 Canada thous. of short tons 1, 867 Exports thous of Ion? tons 832 Consumption— By vessels thous. of long tons.. 271 By electric power plant. thous. of short tons.. 3, 719 By railroads thous. of short tons.. 8,198 By coke plantsUnited States thous. of short tons.. 5,834 Canada - thous. of short tons. 261 Stocks, end of month, held by consumers, thous. of short tons.. 55, 500 Prices— Mine aver. (spot), dolls, per short ton._ 1.90 Wholesale, comp-.dolls. per short ton.. 4. 144 Retail, composite-.dolls. per short ton.. 9.31 Anthracite: Production thous of short tons 6, 032 Exports thous of Ions tons Stocks, end of mo. in yds. of dealers no. of days supply.. 57 PricesWholesale, conip.- .dolls, per long t o n _ . 13. 389 Retail, composite--dolls. per short ton._ 15.08 Coke: Production, U.S.— Beehive _ -thous. of short tons.. 377 Bv-product thous. of short tons.. 3, 646 Production, Canada. -thous. of short tons.. 177 Exports --thous. of long tons.63 Price, furnace, 9 7Q Conne^lsvil^e dolls, per ^hort ton Petroleum Crude petroleum: Production thous. of bbls. . 74, 10S Srocks at end of monthTotal (comparable) thous. of bbls.. 351. G4f. Tank farms and pipe lines thous. of bbls.. 312.411 Refineries thous. of bbls.. J9, 2'~ California — Li>ht thous. of bbls.. 20, "s Heavy thous. of bbls. 91, 797 Import 1 ? - -thous. of bbls. . 6, L'09 Consumption (run to stills) thous. of bbls.. 7H,323 Reflnery operations per ct. of capacity.. 79 Price Kansas-Oklahoma . .dolls, per bbl.. 1 '"() Oil well"5 comple r ed number 905 Gasoline: ProductionRaw (at refineries) thous. of bbls.. 2 , V2 Natural gas (at plants). .thous. of bbls.. .1 "12 > QiQ Fxport^ thous. of bbls. Con^um'otion thous of bbl^ '• •*, 71 s Stocks, end f of month— • Raw (a refineries) thous. of bbls 3° 3"*13 Natural gas (at plants) .thous. of bbls.. : 7, ! PricesWholesale, New Y o r k _ _ _ < l o u s . per gal..; . ]7j Retail, wagon* 50 cities.-dolls. per gal . _. ]H Retail distribution, 41 States. ihous. of gals...' n74, ^40 Kerosene: 1928 10,284 6, 793 : 19.580 6, 679 • 11,934 : -5! 3 +3.0 -2.8 — IS. 9 -1.6 11,317 ' -HO.O 7, 489 +10. 2 274 ! +1. 5 0. 0 +1.9 i +24.5 220 8 -25. 0 1 -25. 0 860 952 is 56 25 —55. 4 98 326 88 319 367 419 + 14.2 58,042 : 53,644 126,556 i, 201,340 48, 917 211,019 +15.6 1 +18.7 204,038 212,637 -7.3 ! -40.0 * Cumulative thi ough Mar. 31. +4.2 6 ;' 2 Revised. +1.9 1 +23.9 -2. 8 +7. 2 +10.7 31 TREND OF BUSINESS MOVEMENTS—Continued | 1928 1927 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" December January 54,315 30, 736 48, 134 39, 108 F m ®$ aij - PER CENT INCREASE (+) OR DECREASE ( — ) 1927 March March April Apr., 1928, from Mar., 1928 April CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 Apr., 1928, ! from i Apr., 1927 1927 1928 -17.9 153,394 151, 126 Per ct. increase (+) or de1 crease (-) cumulative 1928 from 1927 RUBBER Crude Rubber World shipments plantation Imports (including latex) Consumption (quarterly): Total For tires Consumption bv tire mfrs Stocks, end of quarter: Total Alanufacturer^ Dealers Afloat World stocks, end of month: World total United States Europe Producing countries Afloat Wholesale price, Para, N. Y long tons long tons _ _ long tons long tons thous. of Ibs 3 3 74 391 CO, 592 32, G54 50,022 33, 392 ! 37, 938 ! 40, 688 3 43, 709 46,468 1 3 H2,103 ! s 91 700 320,403 335,572 .. 3 3 96, 601 long tons.. 77, 932 long tons 33 18, 669 long tons 44, 890 long tons long tons . . 261, 592 long tons.. 100, 131 66, 737 long tons.. 27, 324 long tons.. 67, 400 long tons... .294 dolls, per lb__ 276, 670 110, 243 69, 594 27, 453 69, 380 .288 3,391 7,734 4,026 7, 491 3 3 95, 273 380,871 48,897 64, 131 35,515 44, 751 46, 202 91 279 78. 577 50, 614 51,333 -6.8 I 4 256, 689 85, 740 67, 044 29, 515 74, 390 .286 4 139, 074 -.5 I i 3 82, 233 3 68 105 3 14, 128 I 345,384 269,572 !__ 108,955 114,060 j 66, 268 f.l, 398 25,649 ! 22,353 19,223 68,700 i .234 .204 .183 139, 729 -1.5 ij 263, 362 92, 757 71,229 ^ ^ 26, 176 :~-l3.~6~ ~ - 2 G ~ 6 ~ j | - - - - " - - I - 73, 200 27 1 — 10.3 "— SS^'l' Tires and Tubes Pneumatic tires: Production stocks end of month shipments — Domestic Export Inni r tubes: Production stocks, ( nd of month. Shipnvrts— Dniiie^tio Export _ bul'd vi' 1 cushion: Production1 s t < ks, e: I of mont h shipments— Domestic Exports thousands thousands thousands . _ thousands ._ .thousands,. thousands thousands -thousands 2,959 178 3, 924 132 3, 742 10, 297 4, 086 9,760 3, 413 133 4, 784 !1 8, 826 3,653 I 133 i 5, 176 11,020 5, 128 ! . 9, 318 ' 5, 427 i 11,878 L. 4, 469 90 3,997 i 81 i thousands thousands , 33 161 164 37 159 i thousands. . thousands 28 ^4 31 3 36 i 8 705 4,137 174 4,205 98 : . 44 L. 159 41 4,742 9 113 4, 094 199 4,118 171 • ; 5 395 12, 839 5 536 13,371 I | 4, 534 90 4. 669 '105 '< 57 159 64 162 54 54 5 i 8 ! Other Rubber Products F.erl ii:ne 1 rubber (quarterly): Pro- lu( turn ! 1 4 i 12, 292 4 • ' i ! | | i 11,714 4 439 +8.1 -15.9 13 1°7 4 14, 689 +11.9 ro!. 4 1°4 671 269 : 529 4 259 4 147 4 4 130 ! +13.4 1 4 : i 13 Q.38 10, 832 4 4 4 : 4 118 +3^9 19 7 4 4 108 ! -Hi. 9 11 | -52.2 03 | long tons - _ 3 46, 530 S rap rubber (quartern ): 3 62,016 stocks at iciLuirers lontT tons '^nsumption In reclaimers long tons.. 3 61,331 lai'rber-pv ><>fed fabrics. Pio luction — Total . thous. of yds 2, 518 Uitinbries. ___ _. thous. of vds. Li mc(<at fabrics thous. of vds 1, 303 All < ther thous of vds 594 X->v oHtis, auto lihrlcs thous. of yds.. 710 Pri d uot ion, relative to capacitv.pcr cent. 23. 6 L>i >T>l « . r hecLv r« luction thous. of pairs 19 203 SI ip'n nts — To s,h,)c manuf icturers.thous. of pairs. _ 8,384 T«" iep iir trade thous of pairs 6, 009 Foi export thous. of pairs. 1,087 strckx i n 1 of month thous. of pairs 42, 802 !l'iM>er ;-oies. Production . . . thous. of pairs. 3, 255 ' 351.112 2,177 600 874 703 29.' G ; -16,31* ! s 04,069 ; 3 45, 547 3 62, 807 358.303 ! 2, 575 _ 757 ... 1,107 1,148 '•_ 711 900 ' 960 i 28.8 . ; 9 756 i i 978 1 ISO 588 851 61.3 ._ 2, 800 820 1 498 ! 48? 805 1! 41.4 17, 682 19,181 29 :>°> 13, 640 14 169 10, 786 6,314 793 43, 796 10, 802 6,754 ' 1,127 41, 289 10, 0^3 . . <• 407 i.l.js' -. 46,14* 7, 706 6, 367 772 47 82° 6 689 3,431 3,628 2,243 916 675 3,148 ; ! ; i._ . : '< i 6, 507 768 47 809 4 2 855 4 3 19Q _[_Q (J AQ7 4 2 314 +55. 6 59, 446 +48. 5 4 1 : 3,747 , . 1, 661 1,726 i i 2,087 : 1,692 ' 992 I 529 : 3,381 • 1,090 i._ 282 ; 3,822 1,221 490 26 4, SO? 1, 122 i ' i 4 zifi O'« 4 4 91 943 4 1 1 440 4 i i 4 9 578 31, 671 +49. 1 4 02 4-5 +55. 6 4 3^ 089 | +15.3 4 4 4 016 10, 805 +169. 1 4 6, 022 2, 998 1,486 +132.4 +287. 3 +471.5 18 14?4, 263 -.1 -1.9 -8.1 +11.5 Milplll M l t b — To shoe manufacturers To repair trade For export ^tock , end of month M.v/hanical rubber g.ods: shmments — Total Belting IIc.se All other.. K 1 ">r b >Tvts,* shiomeuts thous. of pairs. _ thous. of pairs.. thous of pairs thous. of pairs. . 2, 498 974 129 3, 257 539 ' 53 4,113 • 4 9 rqi 4 774 4 ' 4 °60 : thous. of dolls,. thous. of dolls.. thous of dolls thous. of dolls ._ ..pounds.. 5,898 1, 557 2,190 2, 151 192, 926 5, 630 1,388 2, 257 1,984 217, 798 5,838 1,351 2,289 2, 199 195,249 6,675 : 1,594 i 2,589 I 9 562 | 215,724 '.. i ! 1 : 7, 161 " 1, 714 2, 970 9 477 5,823 1,459 2,370 1 995 "• 4 18 166 4 347 4 4 4 4 A n?,i 4 G] 745 HIDES AND LEATHER Hides Imports: Total hides and skins thous. of Ibs.. 38, 151 36, 409 Calfskins thous. of Ibs.. 3,177 3,410 Cattle hides . thous of Ibs 23, 391 18, 856 Goatskins thous. of Ibs 5,326 5,448 Sheepskins thous. of lbs_. 3, 740 5,117 Stocks, end of month: Total hides and skins thous. of Ibs. _ 242, 300 244, 242 Cattle hides thous. of Ibs 198, 623 204, 224 Calf and kip skins .thous. of Ibs.. 26, 803 23, 825 Sheep and lamb skins thous. of Ibs 16, 874 16, 193 * See table on p. 18 of the April, 1928, issue for earlier data, 33,421 i; 2,861 12,269 7,453 4,276 48,489 ! 3,018 28,833 8,362 4,841 45,443 ; 2,836 \ 26,101 8,182 !! 5,428 34, 546 3,319 16, 228 8, 640 4, 454 33, 234 ! -6.3 ! +36.7 ; 2,809 -6.0 ! +1.0 15, 148 -9.5 +72.3 8,195 ! -2.2 i -.2 : ' 5,113 1 4-12.1 ! +6.2 ; 238,736 1 229,970 234, 094 220, 679 200,897 194,655 I I 186, 430 170, 732 21, 615 20, 136 1 i 31,435 31, 638 16,224 i 15,179 16, 229 18, 309 3 Quarter ending in month indicated. 4 118,443 11,387 54,267 28,681 17,093 163,762 +38.3 12, 125 90, 059 29, 445 19, 662 +66.0 Cumulative through Mar. 31. +6.5 +2.7 +15.0 32 TREND OF BUSINESS MOVEMENTS—Continued 1927 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" March PER CENT INCREASE (+) OR DECREASE (— ) 1927 ! 1928 Apr., 1927, from Mar., 1928 Apr., 1927, from Apr., 1927 +8.0 +9.7 +68.4 +84.4 761 457 3,837 1,027 742 -6.3 454 +7.6 3,330 i -33.0 -9.6 960 -16.0 35 +3.5 -4.4 95, 521 222, 116 16, 018 : 81, 890 233, 925 20, 396 98,759 ! +18.6 209, 671 -9.9 17,005 j -3.2 -3.3 ! +5.9 -5.8 1,358 1, 411 26, 819 68. 747 71, 184 27, 405 99, 905 -.4 1,397 25, 897 59. 753 ' 80,464 -15.8 22, 966 -4. 2 128,446 . -8.3 -2.8 December January 0. 250 .250 0.261 .300 0.248 .291 0.237 .269 0.256 .295 0.140 .152 0.152 .160 761 376 4,869 1,094 711 383 5,479 1,151 666 : 374 : 5,780 : 1,048 665 407 5,140 1,016 623 438 3,446 918 79. 399 253, 643 42, 951 66, 128 271, 156 26, 090 61,041 247, 966 18,482 80,550 246, 597 16,543 1, 243 23, 034 72, 143 91, 457 20, 057 150, 168 1, 223 23, 095 71,415 79, 438 19, 931 119,896 1, 240 23, 409 70, 509 85, 757 20, 154 79, 257 2 1, 363 25. 245 73, 045 79, 226 2 19, 061 59, 769 57,017 247, 409 54, 828 245,931 54, 085 242, 361 54, 302 249, 023 66, 235 277, 143 65,608 1 274,983 i S2, 065 148, 121 85. 391 149, 952 86, 028 147, 315 87, ?99 141, 3S6 91, 056 150, 325 90,794 ' 145,298 • ™T \ April March April I Per ct. inCUMULATIVE TOTAL I FROM JANUARY 1 1 crease THROUGH APRIL 30 i (+) i or decrease ! cumu(-) 1927 1928 lative 1928 from 1927 2,989 1,685 15, 076 4,108 2,665 1,602 19,815 4,133 -10.8 —4.9 +31. 0 —. 6 310, 203 918,817 88, 115 303, 240 987. 835 77, 133 f 7.' 5 — 12. 5 5,184 71, 749 214, 969 311, 158 77, 405 -3.0 4-2. 7 +1L 4 -14. 5 HIDES AND LEATHER— Continued Hides— Continued Prices: Green salted, packers' heavy native steers dolls per Ib Calfskins, country No. 1 dolls, per Ib Inspected slaughter of livestock: United StatesCattle ._ thous. of animals Calves thous of animals Swine.. thous. of animals.. Sheep thous. of animals.. Canada — Cattle and calves no. of animals.. Swine no. of animals,. Sheep no. of animals.. Leather Production: Sole leather.. thous. of backs, bends, sides.. Finished sole and belting thous. of lbs._ Finished upper thous. of sq. f t _ . Oak and union harness stuffed sides Skivers doz Unfilled orders, oak and union harness. ..sides.. Stocks, end of month: Sole and belting thous of Ibs Upper thous. of sq. ft.. Stocks in process of tanning: Sole and belting.. thous. of Ibs.. Upper thous. of sq. ft.. Exports: Sole... thous. of Ibs Upper — Total thous of ^q ft Cattle and calf thous. of sq. ft.. Patent thous. of sq. ft.. Sheep thous. of sq. ft.. Prices: Sole, oak. scoured backs, heavy. Boston dolls, per Ib Chrome calf, "B" grades.dolls. per sq. ft.. 924 1, 265 1, 076 14, 488 9, 975 3,715 798 15,532 10, 614 4,103 815 15, 567 10, 750 3. 836 981 .59 . 59 . 54 . 65 . 60 Leather Products Shoes:r 23, 525 P oduction thous of pairs 381 Exports thous of oairs Wholesale pricesMen's black calf 6. 50 blucher, Mass dolls per pair Men's dress welt, tan 5. 00 calf, St. Louis dolls, per pair.. Women's black kid, dress 4.00 welt lace oxford dolls per pair Gloves: Glove leather — 858 Production thou^ of skins Stocks (tanned) — 1, 150 In process thous o f ^ k i r s 2,611 Finished thous of ^kins Gloves, cut — 182, 810 Total. ._ ... dozen pairs Dress and street — Imported leather dozen pairs. . 41, 150 22, 430 Domestic leather dozen pairs 119, 230 ^Vork gloves doz^n pa^r^ " 66, 737 18, 259 54, 783 -22.5 -17. 1 : -20.5 57 3 971 753 1, 150 14, 297 9, 830 3, 605 SC2 10, 846 7,311 2, 958 12, 293 9,250 2,404 639 .66 .60 .43 .46 • 43 1 . 46 +1.5 0.0 +53.5 +30.4 [ 31, 707 471 394 31,277 559 28,389 i 595 33.1 -33.8 : . 65 . CO 846 { 13,388 ; -24.1 -25.6 9, 786 2,896 i -17.9 706 | -33.1 5,199 73, 998 209 227 279, 329 90, 569 o 4 4 4 _0 9 4 -11.0 3,747 4,06" +S.5 -19.0 -25. 3 +2.1 -18.3 49, 980 36, 793 10, 701 2, 486 56, 2 r 38, 505 14, 502 + 12.5 4 25 939 388 29, 24R 303 6. 75 6.75 6.75 6. 75 6.40 6.40 0.0 +5.5 5.00 5. 00 5. 00 5.00 4.85 4.85 0.0 +3.1 4.03 4.15 4.15 4.15 4. 00 4.00 0.0 +3.8 90S 944 810 823 1,140 2, 707 1, 203 2, 838 1, 284 3, 035 1,891 2, 905 1, 762 2,736 177, 884 194, 874 223, 271 ; 230,749 219, 370 4 37, 738 24, 650 115, 496 45,518 28, 044 121,312 51,653 37. 550 134,068 64, 588 43, 187 122, 974 62, 655 37, 928 118,787 ! 4 133, 788 135, 632 156, 872 24, 976 142, 034 139, 851 159, 575 21, 082 132,743 143,678 135, 952 2 i44? 771 156, 366 , 2 155, 274 21,151 j 21,124 166,411 148, 360 198, 338 23, 746 165,680 142, 483 221,535 19,772 +4.3 -8.0 +12.0 -12.2 -9.5 -6.6 -21.5 -6.2 603, 908 583, 195 210, 388 207, 064 45, 198 152, 764 2.53 209, 1-06 210, 016 44, 726 156, 164 2.53 2 209, 820 ! 2 228, 692 2 2207, 926 2 230, 484 47, 162 2 45^ 854 130, 152 83, 352 2.53 ; 2.53 211, 162 :! 235,408 214, 202 1 232, 858 44, 008 42, 800 80. 592 ; 97, 063 2.53 ' 2.75 218, 996 221, 406 39,290 82,536 2.75 -7.7 -7.1 -4.0 -3.3 0.0 -3.6 -3.3 +12.0 -2.4 -8.0 119,312 81 181, 600 182, 027 119, 525 84 186, 721 172, 952 117, 553 < 133, 207 129,892 -2.0 192, 645 i 181,112 174, 094 176, 356 166,460 186,138 -2.7 -2.7 123, 883 181, 439 180, 467 114,211 186, 829 177, 808 i 119,932 : 80 : 197,976 ! 186,232 j 109,666 113,752 188,163 i 190,305 172,635 1 172,896 118,453 193, 443 163, 179 128, 927 169, 061 166, 531 128,666 168,711 147,736 +4.1 +1.6 -5.6 535 169, 202 1,758 157. 466 539 854 183. 414 i 216, 160 1,648 638 | 140,011 ! 184, 502 1,073 i 25.3 -35.2 123, 449 1 4 83, 562 2,042 * 2, 345 625, 006 4 174, 186 *4 102, 271 348, 549 4 _; o -; r, ; +30. 1 86, 954 1, 555 +4.1 — 23. 8 4 2, 629 +12.1 596, 029 . -4.0 134, 909 4 90, 244 • -1LS 4 370, 876 1 +6.4 PAPER AND PRINTING Wood Pulp Mechanical: Production. short tons Consumption and shipments. ..short tons.. Stocks, end of month short tons Imports _ -. short tons.. Chemical: Production . . short tons Consumption and shipments.. .short tons.. Stocks, end of month short tons.. Imports .. short tons Price sulphite dolls per 100 lb^ Newsprint Paper Production: United States, total short tons.. Ratio to capa^'itv per cent Canada.. .. ... short tons Consumption by publishers. ..short tons.. Shipments: United State5* short tons Canada short tons . Imports _ short tons. _ Exports: United States short tons Canada short tons.. 2 Revised. 112,302 79 189,822 162,573 1 149, 886 ' 133, 126 173, 943 18, 549 I 4 Cumulative through Mar. 31. 568, 341 553, 700 -5.9 -5.0 74, 619 81, 906 +9.8 890, 630 887, 894 858, 780 862. 628 -3.6 -2.8 422, 845 450, 260 +6.5 -9.5 518, 447 469, 312 -9.5 +15.7 -2.7 654, 264 687, 356 767, 164 702, 869 +17. 3 +2.3 -7.9 +14.7 +10.5 506, 202 643, 003 614, 578 456, 082 758, 740 686, 518 -9.9 +18.0 +11.7 -40.5 +13.4 4,955 591, 479 3,789 -23.5 697, 051 i +17.8 33 TREND OF BUSINESS MOVEMENTS—Continued 1927 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" PER CENT INCREASE (+) OR DECREASE ( — ) 1927 1928 Apr., 1928, from Mar., 1928 Apr., 1928, from Apr., 1927 Per ct. increase (+) or decrease (-) cumulative 1928 from 1927 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 February March April March April 25, 905 37, 731 207, 449 46. 522 3.25 28, 499 39, 145 215, 118 48, 212 3.25 34, 648 47, 657 206, 392 41, 613 3.25 33, 734 46, 641 188, 384 43, 363 3.25 22, 744 28,462 227, 049 42,884 3.25 24, 105 ' -2.6 -2.1 26, 389 -8.7 215, 329 +4.2 40, 798 0.0 3.25 +39.9 +76.7 -12.5 +6.3 0.0 720 102 507 118 654 153 853 151 697 123 699 141 819 1 -IS. 3 135 I -18.5 -14.9 -8.9 2,900 521 2,711 545 -6.5 +4.6 10, 671 12, 934 105 70, 413 44, 257 12, 329 11,897 108 43, 173 43, 173 12, 332 11, 722 109 65, 865 37, 172 13, 190 11, 930 110 78, 629 40, 221 11, 796 11,807 12, 085 12, 521 110 84, 715 31, 360 : -i.o -10.6 +6.8 +5.7 47, 681 46, 063 49, 647 47, 356 +4.1 +2.8 -8.8 -0.1 307, 625 * 93, 687 259, 382 120, 566 -15.7 +28.7 33, 261 +7.4 December January 20, 877 38, 117 218, 177 46, 708 3.25 1927 1928 PAPER AND PRINTING— Continued Newsprint Paper— Continued Stocks, end of month: At mills— United States _ _ short tons Canada short tons.. At publishers .short tons In transit to publishers short tons.. Price, roll, f. o. b. mill., dolls, per 100 Ibs | Printing Book publication: American manufacture no. of titles Imported no. of titles Sales books: New orders thous. of books. . Shipments ... thous. of books Printing activity weighted index number Cash checks, shipments * thous. of checks.. Blank forms, new orders * thous. of sets 71, 715 11,045 11, 167 107 71, 767 31, 270 1 4 Box Board Operation ..thous. of inch hours Operation per ct. of capacity. Production... short tons._ New orders short tons Unfilled orders, end of month short tons.. Consumption of waste paper short tons. Shipments short tons.. Stocks, end of month short tons Stocks of waste paper, end of month: On hand __ _. _ short tons In transit and unshipped purchases. __ tons.. 2 2 2 2 2 7, 524 272.4 187, 748 179, 852 74, 430 179, 129 183, 028 42, 610 145, 549 34, 512 2 8, 194 7, 892 2 278.9 82.0 205, 065 2 213, 066 205, 549 2 216, 051 86, 780 82, 446 190, 631 22 194, 756 198, 194 211, 687 49, 172 50, 490 2 2 2 2 2 157, 185 62, 791 142, 723 60, 918 2 8, 856 282.0 227, 573 245, 753 2 94, 005 209, 806 2 237, 807 2 40, 424 8,320 83.2 219, 012 209, 203 84, 513 209, 634 218, 214 40, 312 8,628 79.9 219, 824 230, 065 114, 369 209, 730 217, 876 54, 566 7,771 1 -6.1 +7.1 +1.5 +11.4 74.7 -3.8 +6.5 205, 589 +6.0 197, 435 -14.9 10.2 — 17.0 101, 861 -.1 +10.4 189, 942 -8.2 +4.9 209, 944 -.3 -19.7 50, 211 139, 775 47, 582 132, 719 47, 551 155, 513 43, 789 147,938 46,314 2 2 30, 981 788,315 805, 646 864, 716 I +9.7 876, 556 +8.8 745,331 792, 380 804, 827 865, 902 +7.9 +9.3 +29.1 -5.0 -.1 -10.3 +2.7 -4.9 +13.5 10, 850 14, 005 +13.6 465, 590 508, 211 +9.2 121, 858 66, 767 -8.0 0.0 110,658 j -13.3 66,099 | +12.0 +6.0 +22.7 462, 096 501, 274 +8.5 94 90 87 | +10.2 +3.7 90 +11.5 -17 10 9 10 10 ! +20.0 +12.5 +20.0 -10.0 98, 325 93, 419 369, 555 383, 744 +3.8 87, 627 72, 705 -8.8 -3.4 -4.0 +2.2 -.8 95, 179 69, 116 +5.5 +30.0 359, 189 375, 196 +4.5 39, 195 -5.0 40, 539 —1. 1 39,931 1 -13.6 +3.6 49, 446 -.6 148, 946 159, 028 +6.8 -6.0 +8.7 151, 527 154, 844 +2.2 -4.6 -9.4 +6.0 +2.2 -1.2 +5.7 402, 335 391, 755 403, 392 395, 212 +.3 +.9 Other Paper 3,450 1,940 Binder's board, production . short tons 4,382 3,626 2,547 Book paper: 137, 572 Production.. _ short tons.. 110, 463 125, 191 123, 939 121, 509 91 91 83 Ratio to capacity per cent.. 93 90 117,304 123, 567 135, 370 Shipments short tons.. 113, 225 125, 033 Stocks, end oi month short tons.. 81, 105 72, 415 73, 403 69, 630 68, 265 New orders82 97 88 Coated p. ct. of normal production.. 83 96 84 79 81 Uncoated.p. ct. of normal production.. 87 86 Unfilled orders, end of month. 12 10 Coated p. ct. of normal production.. 11 11 g 9 8 Uncoated.p. ct. of normal production.. 9 Wrapping paper: 92, 654 88, 863 101, 618 Production short tons 93, 249 96, 223 78 86 89 Ratio to capacity per cent.. 89 91 92, 469 Shipments ._ short tons 96, 334 85, 220 92, 410 93, 144 Stocks, end of month. __ ..short tons.. 84, 916 94, 551 87, 593 92, 551 87, 895 Fine paper: Production short tons 40, 288 38, 136 42, 399 38, 870 37, 471 92 91 93 Ratio to capacity per cent 93 97 37, 548 37, 259 Shipments short tons 38, 287 43, 459 35, 550 Stocks, end of month. short tons.. 51, 044 53, 741 52, 973 51, 850 52, 410 All other grades: Production _. _ short tons 97, 720 99, 588 96, 075 106, 303 101, 426 Shipments short tons.. 96, 863 97, 835 105, 723 98, 946 93, 680 Stocks, end of month.. .short tons.. 71, 428 68, 751 66, 766 67, 354 60, 838 Total paper (inc. newsprint and box board): Production short tons 2 642, 242 2 679, 381 2 677, 501 2 735, 397 696, 124 82 76 Ratio to capacity ...per cent.. 82 82 82 Shipments . short tons 2 640, 450 2 665, 078 2 670, 176 2 732, 445 » 680, 851 Stocks, end of month. short tons 341, 601 344, 485 355, 951 359, 242 374, 921 1 2,774 123, 839 40, 684 49, 518 108, 797 107, 835 66, 662 3, 040 ! 110,217 99,211 ! 98, 063 67, 589 723, 187 678, 867 2, 693, 188 2, 788, 403 +3.5 674, 889 330, 155 -5.3 0.0 -7.0 +4.4 +2.5 712, 359 329, 373 +.9 +13.6 2, 672, 149 2, 748, 550 +2.9 1, 617, 188 1, 290, 989 326, 199 1, 580, 485 1, 279, 019 301, 466 -2.3 -.9 -7.6 85, 334 -15.5 -4.1 343, 334 343, 195 16,714 , -4.5 +17.5 63, 702 73,473 4 Cumulative through Mar. 31. 0 +15.3 Paperboard Shipping Boxes Production: Total Corrugated Solid fiber Operating activity: Total Corrugated Solid fiber 342, 376 272, 807 69, 569 347, 622 227, 280 70, 342 402, 183 326, 430 75, 753 425, 361 348, 835 76, 526 405, 319 326, 474 78, 845 421, 110 338, 400 82, 710 403, 165 322, 002 81,163 -4.7 -6.4 +3.0 +.5 +1.7 -2.9 66 64 72 69 67 75 77 75 84 80 78 85 74 72 80 79 80 76 77 76 77 -7.5 -7.7 -5.9 -3.9 -5.3 +3.9 Abrasive paper and cloth: Domestic sales reams 58, 265 83, 969 80, 505 16,034 Foreign sales reams.. 17, 112 16, 169 * See table on p. 48 of the May, 1928, issue for earlier data. 96, 871 20, 558 . thous. of sq. ft -thous. of sq. ft.. thous. of sq. ft.. .per cent of normal . per cent of normal.. ..per cent of normal. . Other Paper Products 81, 850 98, 054 19, 634 20, 844 2 Revised. 34 TREND OF BUSINESS MOVEMENTS—Continued 1927 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" t I 1938 Per ct. in! PER CENT IN- ' CUMULATIVE TOTAL CREASE (+) OR 1 FROM JANUARY 1 crease (+) DECREASE (— ) i THROUGH APRIL 30 '1 or de! i crease (_) : Apr., Apr., i cumu1928, 1928, lative from from 1927 1958 iy2S .Mar., Apr., from 1928 1927 TJ27 1927 ! December January *%?• «<*<* Kentai>d vertisemen ts, Minneapolis. _ number . _ 2, 564 Real estate conveyances (41 cities) number.. 143, 731 2, 473 139, 314 2, 465 3, S20 5, 561 ! 4, 1S3 101 754 Io4 187 192 200 197 179 13-1 191 210 197 , 191 190 193 209 201 190 189 ; 193 207 201 203 212 197 200 204 ! 213 197 200 204 213 197 200 14,712 : 6,239 47,938 ; 5,475 | 12,259 9,187 47,731 4,515 +28.4 +56.1 +1.3 -2.6 7,569 ' 82,827 ; 5,582 79,722 -7.0 +8.3 BUILDING CONSTRUCTION HOUSING April I', March April AND ; 5, 895 160 088 +45. 6 16, 164 426, 947 14, 319 434,101 — 11. 4 +13.4 +17.9 +15.8 +12.3 45, 807 23, 384 156,451 15, 286 44, 609 27, 570 189, 927 16, 731 -2. o + 17.9 +21.4 +9. 5 +6.4 +14.4 21, 177 265, 465 21, 136 300, 896 +13.' 3 328, 775 155, 107 818, 186 108, 256 267, 549 197, 825 954, 872 106, 170 -18.5 +27.5 +16.7 -1.9 -21.2 +.4 +7.0 -1.2 199, 565 317, 959 1, 929, 856 179, 212 346, 067 2,051,928 -10.2 -14.5 -34.6 -3.3 130, 725 8, 888 140, 724 8,821 +2.3 1,682,770 1, 725, 499 — 5. 7 Building Costs Building materials: Frame house, 6-room rel. Brick house, 6-room rel. Concrete factory costs (Aberthau})..re\. Building costs (Eng. News Record). rel. Building costs (A. G. C.) rel. Constructiou costs (Am. Appraisal): Frame,- _ rel. Brick, wood frame rel. Brick, steel frame. - rel. Reinforced concrete rel. to 1913 . to 1913 _ to 1914. _ to 1913. . to 1913- 182 187 191 204 199 173 133 192 205 199 182 186 192 205 199 to 1913 . to 1913 to 1913 to 1913 205 214 197 201 205 214 196 200 203 [ 212 ' 197 200 9,082 4,406 38, 747 3,582 10, 803 4,412 37, 516 3, 380 9, 084 5,324 '• 42,548 3, 071 10, 826 6,940 54,582 5, 209 13,896 10,834 : 55,281 ; 5,071 4,381 60, 889 3,955 60, 271 4, 855 65, 137 6, 385 84, 266 5,941 1 91,222 ;! 85, 286 27, 938 202, 447 22, 480 65, 981 34, 833 186, 904 22, 854 51, 5G4 31, 716 232, 574 18, 232 69,490 48, U68 2(50, 009 33, 2.J5 80,514 83,208 289,325 31,829 35, 823 90, 194 464, 167 162 30, 055 69, 676 410, 535 125 53, 803 50, 134 444, 023 124 ±9, 454 lUu, 511 572, 647 137 45,900 63,948 ' 58,227 ; -7.2 113,746 101,717 1 113,246 i +6.8 624,523 i 595,874 ! 583,766 ! +9.0 164 135 166 i +19.7 31, 935 1,947 43, 261 2,959 41, 105 1, 713 30, 377 2, 048 203 - 212 1U7 200 ; + L9 0 —5 8 -2.6 -1.0 + 1.4 — 2.0 0 0 0 0 -.5 —.5 0 0 -1.8 Contracts and Losses Contracts awarded (36 States) : Commercial buildings thous. of sq. ft.. Industrial buildings thous. of sq. ft.. Residential buildings thous. of sq. ft.. Educational buildings thous. of sq. ft.. Other public and semipublic buildings thous. of sq ft Grand total thous. of sq. ft Contracts awarded, value (36 States): Commercial buildings thous. of dolls.. Industrial buildings thous. of dolls Residential buildings thous. of dolls., Educational buildings thous. of dolls.. Other public and semipublic buildings thous of dolls Public works and utilities.. thous. of dolls.. Grand total thous. of dolls Building volume (A. G. C.) rel. to 1913.. Fire losses: United States and Canada (Journal of Commerce) thous. of dolls,. Canada (M on dar y Times). -thous. of dolls.. ;! ;| 106,925 j 78,084 i +15.9 +3.1 i! 47,560 i 40,032 ; +73. 1 +107. 9 1 i! 240,312 ' 259,841 +3.6 1 ; 35,413 J 34,326 i -4.3 -7.3 i ; +1.2 25,981 2,101 ; 26,808 2,361 39,721 : 2,173 i +2.6 +8.8 +6. 3 '-Is LUMBER PRODUCTS Softwood Lumber Southern pine: 2 424, 525 Production (computed) M ft. b. m _ _ 419, 297 2 418, 717 99 Operation per cent of full time 97 2 Shipments (computed) M ft. b. m._ 395, 239 32 426, 220 2 417, 652 New orders (computed) M ft. b. m._ 398, 192 473, 900 2 430, 141 Stocks, end of ino (computed) M ft. b. in 1, 207, 534 »1,200,031 1,206,904 2 365, 315 2 352, 826 Unfilled orders end mo (com ) * M f t b m 47,011 Exports lumber M ft b m 52, 930 66, 332 366 Exports, timber M ft. b. m__ 308 870 36.12 Price, flooring dolls, per M ft. b. m 35.54 35.26 Douglas fir: 507,633 Production (computed) M ft. b. m__ 437, 352 410, 493 479,879 Shipments (computed) .__ M ft. b. m.. 386, 768 397, 571 541,206 New orders (computed) M ft. b. m_. 397, 511 444, 514 45,346 Exports lumber M ft b. m 51, 072 85, 299 44,226 Exports timber "M. ft b m 46, 492 2,280 15.99 Price, No. 1 common-dolls, per M ft. b. m__ 14.80 15.23 Price,flooring,1x4, "B" and 34.04 better V G M ft b m 34.50 34.04 California redwood: 43,276 Production (computed).. _M ft. b. m._ 36, 029 39, 454 38,700 Shipments (computed) __M ft. b. m._ 26, 882 30, 201 37,299 New orders (computed) M ft. b. m__ 23, 398 38, 763 48,000 Unfilled orders,end mo. (com.)* M ft. b. m__ 41, 518 50, 415 California white pine: 51,452 72, 552 Production M ft b in 51, 187 97, 412 82, 087 90, 891 Shipments M ft b in 566,957 Stocks, end of month M ft. b. m 667, 618 609, 181 North Carolina pine: 51, 317 Production (computed) M ft. b. m.. 48, 139 40,019 46, 74G Shipments (computed) M ft. b. m._ 47, 845 37, 030 Northern pine: Lumber3-4,513 Production M ft. b. in.. 24, 300 33, 550 35, 413 29, 451 Shipmei ir s M ft b m 24, 680 38,470 32, 708 Nev orders 'VE ft b m 22, 156 Lath5,726 4,472 Production M ft. b. m__ 7,315 5,609 h5hipm a n^-! M! ft b m 3, 994 5,300 Northern hemlock: 13,360 13, 949 11, 425 Productioa M ft. b. m 9.520 10. 014 7.485 Shiuments M ft. b. m.. ! See tables on p. 22 of the April, 1928, issue lor earlier data* 2 460, 346 421,911 ; 444,469 412,472 1 f2 100 99 ii : 2 481, 645 447,083 !| 452,940 438,466 1 498, 006 464,896 j| 459,862 433,287 i 2 1,185,605 1,160,433 i111,239,474 1,205,135 ! 2 381, 676 399,489 j 1 66,527 53,952 ! 51,244 80,305 | 560 291 I 89 389 i ! 35.69 35.74 39.66 39.56 -8.3 -32. 8 -25.2 -9.7 1 242, 689 1,810 233, 822 2,087 -3.7 +15.3 |j 511,213 484,355 i +2.4 1 510,766 565,827 i +14.5 i 546,130 | 548,368 i +12.0 j l 47,720 ' 46,699 ! +1.5 || 39,294 : 45,003 ! -.5 16.80 17.24 -•6 +7.5 -2.9 +6.4 +26.0 -3.9 -7.3 1 1 1,916,379 1,974,127 2,069,475 196, 388 133, 740 1, 947, 269 1, 906, 593 2, 090, 515 247, 527 133, 155 + 1.6 -3.4 +1.0 +26.0 -.4 -.5 -5.1 34,199 i -24.8 44,275 -11.5 47,394 ! -18.9 72,703 I -2.2 +12.5 -12.3 -22.5 -34.1 141, 227 163, 463 190, 067 172,429 i +22.1 151,568 i -10.0 158,119 ! -16. S + 76.2 ; +6.0 ; +3.4 201,696 ! 355,047 | 284,300 j +41.0 408,671 +15.1 200, 942 i 204,050 196, 014 201,620 -2.5 -1.2 141,031 144,290 j 140,040 i 137,206 142,423 143,960 -L3 +2.8 30,987 31,606 1 j * 59, 485 * 51. 709 t 24,368 26,429 -2,. 4 -16.4 i +- ; 508,528 479,879 521,062 58,020 43,423 16.08 i 34.13 520,615 549,264 583,733 58,862 43,226 15.99 51,210 43,847 45,316 49,003 38,489 38,820 36,741 47,916 ! : 80,683 , 114, 182 534,740 i : : ! 33.97 i| i| !l 1 ;| 35.99 ! 42,418 51,273 i 59,953 69,897 35.81 100,978 '! 44,323 • 57,305 i +25.2 106, 188 i 105, 261 ' 100, 206 ; -7.0 493,696 I 522,422 477,411 -7.7 47, 523 54, 866 57, 155 !! 62, 978 48, 755 47, 838 49, 462 51, 191 32,731 39, 645 38,856 36, 412 1 37, 914 : 35,926 : 31, 109 38, 777 33,908 42, 302 , +11.2 -4.4 41, 353 44,555 ; """• 5 -13.9 -8.3 -19.4 5,143 9,593 6,184 I 5,927 i j 9,866 ; +20.2 9,675 i -38.2 -37.3 -38.7 18,089 13.255 ! ; 2 +2.5 +2.0 ! 1,772,600 1, 635, 560 +7.3 | 1,721,869 1, 866, 943 o n -7.2 -6.6 -2.1 +4 7 -18.9 -48.01 Revised. 6,532 7,875 ; 17,820 21,462 16,159 22.278 1 +20.3 +15. 6 + 14. 8 +23. 0 1 i : ! * Cumulative though Mar. 31. -7.7 +8.4 i '4 42, 874 30. 260 . -4L5 35 TREND OF BUSINESS MOVEMENTS—Continued 1928 1927 1937 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" D m ber ~ I Januar y ll * ary ~ PER CENT IX- i CUMULATIVE TOTAL } FROM JANUARY 1 ! CREASE (+) OR 1 DECREASE ( — ) THROUGH APRIL 30 March April March April Apr., 1927, from Mar., 1928 Apr., 1927, , from Apr., 1927 Per ct. increase or decrease cumulative 1928 from 1927 1927 1928 4 8 342 9, 227 4 4 8, 916 8, 491 +6.9 -8.0 4 9, 921 4 8, 270 -18.6 -11.4 LUMB£B PRODUCTS— Continued Hardwood Lumber Walnut lumber: Production M ft. b. m._ Shipments .__ ._ _ M ft. b. in Stocks, end of month M ft. b. ni__ New ordfrs A! ft b m Unfilled orders, end of m o n t h _ _ M ft. b. rn_. Walnut logs: Purchased M ft. log measure-Made into lumber and veneer M ft. log measure. . Stocks, end of month.- _ M ft. log measure. . Northern hardwoods: Production M ft b m Shipments M ft. b m Lower Michigan hardwoods: Production M ft b m Shipments M ft. b. in_. Stocks, end of month M ft. b in All hardwoods: Total stocks, end of monthTotal hardwoods M ft. b. m._ Gum M ft b in Oak ... _M ft. b. m Unsold stocksTotal hardwoods M ft. b. m._ Gum ^ M ft b m Oak M ft. b. m Unfilled orders — Total hardwoods M ft b m Gum M ft. b. m.. Oak. M ft. b. m 3,376 2, 548 13,037 2,158 5, 395 3, 063 2,687 13, 264 2, 623 5, 389 2,585 : 2, 762 13, 179 2,807 5, 491 3.268 3, 042 13, 327 2, 835 4, 613 3, 319 3,115 11.291 7, 279 2. 547 2,745 11,093 2 978 8 243 2,709 2,255 2, 131 2, 185 2, 858 2,285 4 7, 416 4 6, 571 2,738 2,047 2,176 1,918 4 7, 187 4 6, 837 -4.9 52. 610 34! 848 40. 625 27^838 123, 676 80, 049 — 5. 5 —9. 5 7,799 7, 413 35, 897 9,713 7,484 47, 803 930, 398 1, 021, 295 1, 145, 176 263, 649 297, 464 334, 702 331, 362 408, 852 360, 590 862, 428 225, 823 303, 719 802, 761 200, 180 290, 994 740, 914 177, 437 272, 082 805, 780 219, 301 296, 720 912, 816 254, 192 337, 262 661, 711 159, 759 241, 518 617, 375 142, 647 229, 171 225, 388 83, 126 65, 343 256, 464 100, 560 69, 392 281, 196 103, 092 78, 2Q6 234, 933 81, 904 68, 633 219, 108 72, 069 69, 044 2, 656 3,615 2, 416 3, 041 2, 014 3,229 2, 407 2, 951 20, 707 19, 269 37, 543 24, 164 41, 185 26, 512 44, 948 29, 373 4, 996 5, 895 30, 902 7,934 8,147 30, 821 9,188 7, 541 30, 626 9, 193 6,078 30, 870 3 7Mf> ._'! 4 4 4 130, 825 88, 498 4 4 * 24, 942 4 22, 983 4 4 26, 315 21, 766 +5.5 -5.3 9, 023, 495 763, 947 +0.7 +13.3 24, 278 26, 168 +7.8 36, 460 35, 350 30, 058 29, 870 -17.6 -15.5 30, 215 30, 120 -.3 146, 430 150, 359 159, 914 172, 016 +9.2 +14.4 183, 937 +10.1 27,043 -18.0 1 :j 1 ! Total Lumber Production, 10 species M Exports, planks, joists, etc ._. M Retail yards, Minneapolis district: Sales -. M Stocks, end of month M Composite lumber prices: Hardwoods dolls, per M Softwoods dolls, per M ft. b. m_. 22,085,371 22,007,527 2,245,215 22,423,055 22,347,698 2, 378, 995 2, 268, 148 168, 289 239, 145 158, 909 186, 541 179,352 ft. b. m 188, 014 153, 700 2 -3.1 -3.9 +3.5 I 8, 962, 275 -4.6 674, 018 ft. b m ft. b. m _ 4,742 80, 690 5,042 88, 976 4,535 94, 155 7,106 91, 428 9,485 93,983 j 7,347 90, 846 7, 789 2 91, 902 +33.5 +2.8 +21.8 +2.3 ft. b. ni__ ft. b. m__ 39.74 26.84 40.42 27. 37 40.47 27.50 41.24 27.55 39.77 28.00 40.80 30.26 40.65 30.52 -3.6 +1.6 -2.2 — 8. 3 m_. m m__ m m_- 7,820 6,797 29, 527 6,883 8,736 7, 346 7,252 28, 721 8,161 9,154 7,519 6,889 29, 118 7,712 10, 034 7,862 8,184 28, 036 7,211 9,816 7,331 ' 7,545 i 28, 326 7,036 1 9,963 9,589 9,363 30, 367 8,120 9,300 8,141 10, 022 28, 154 9,103 10, 856 -6.8 -7.8 +1.0 -2.4 +1.5 -24! 7 +.6 -22.7 -8.2 m_. m m _ m m.. 32, 113 29, 266 74, 773 34, 715 27, 887 35, 947 38, 080 82, 239 53, 888 45, 925 38, 771 40, 232 82, 758 36, 163 42, 975 42, 272 47, 599 78, 855 48, 815 47, 134 42, 924 46, 105 77,491 i 46,071 ' 48,004 39, 917 42, 535 67, 833 44, 609 47, 975 35, 697 40, 970 62, 196 45, 763 51, 623 +1.5 -3.1 -1.7 -5.6 +1.8 +20.2 +12.5 +24.6 +.7 -7.0| number number. _ number number-- 10, 756 12, 465 111,313 94, 534 18, 763 19, 309 116, 234 88, 582 44, 442 38, 449 83, 908 121, 445 t!6, 487 t20, 028 1163,986 i f 61, 048 ; number number-number _ number. _ 9,175 8, 860 47, 601 41, 637 18, 069 15, 524 80, 340 65, 764 29, 822 31, 339 113,361 89, 047 110,006 t!7,218 f87, 199 165,653 23 40 25 23 25 20 19 44 42 34 55 7.0 95.0 54 13.0 94. 0 53 7.0 92.0 7,043 7, 556 6,818 5,626 7,837 8,129 -17.5 2, 851 2,076 1,978 1,650 2,286 2, 004 -16.6 -17.7 , 5,918 7,617 data. 7,647 9,781 6,933 9,104 5,955 7,694 8,428 10, 670 t Reported by only 15 firms. 7,935 10, 218 -14.1 -15.5 -25.0 31, 837 26, 433 -17.0 -24.7 40, 836 34, 196 -16.3 Cumulative through Mar. 31. Flooring Maple flooring: Production M ft. b. Shipments _. M ft. b. Stocks, end of month __M ft. b. New orders _ _ 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. New Orders. _. M ft. b. Unfilled orders, end of month._M ft. b. g g - 167, 002 '- Doors at Wholesale* White pine: Receipts _ Shipments Stocks, end of month Unsold stock, end of month Fir: Receipts . Shipments Stocks, end of month Unsold stock, end of month —62 9 —47.9 +95 4 —49.7 i —66 5 —45. 1 —23 1 -26.3 _ _ Wooden Furniture Grand Rapids district: 23 Shipments No. of days' production-New orders No. of days' production-13 Unfilled orders, end of 29 month _ _ . No. of days' production Outstanding accounts, end of month No. of davs' sales 55 32.0 Cancellations per cent of new orders _ . Plant operation per cent of full time-99.0 Piano benches and stools: New orders (av. per firm) dollars. . 7, 784 Unfilled orders, end of month (av. per firm) dollars. . 1,803 Shipments— Value (av. per firm) dollars. _ 10, 338 Quantity (total pieces. . 13, 072 * See table on p. 18 of the April, 1928, issue for earlier 27 22 20 14 -20.0 -5.0 0.0 +35.7 ; 30 42 33 -11.8 -9.1 ; 47 12.0 90.0 55 16.0 97. 5 0.0 — 53. 8 -5.3 47 -11.3 26.0 ; +71.4 95.0 -2.2 2 Revised. -30.8 4 32, 973 36 TREND OF BUSINESS MOVEMENTS—Continued i 1927 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" 1928 December January February 2,114 3,219 2,469 2,575 2,450 2,896 2,719 2,863 94 86 80 132 PER CENT INCREASE (+) OR ! DECREASE ( — ) 1927 March March April Apr., 1927, I from Mar., 1928 April Per ct. increase (+) or decrease (-) cumulative 1928 from 1927 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 Apr., 1927, from Apr., 1927 1 1927 12, 818 12, 082 1928 LUMBER PRODUCTS— Continued Plywood and Veneer Plywood: New orders thous. of sq. ft. of surface.. Shipments__ ___thous. of sq. ft. of surface-Unfilled orders, end of month thous. of sq. ft. of surface.. Rotary-cut veneer: Purchase. . _ . number of carloads _ Receipts number of carloads 2 2, 709 3,125 2,450 2,680 3,526 3,373 2,362 1 -33.9 2,370 | -14.2 +3.7 +42.3 2,808 3,807 2,582 3,814 3,182 -32.2 -18.9 97 115 91 173 173 100 90 185 : 84 | +90.1 +106. 0 +6.9 +120. 2 84 10, 078 11, 276 -21.4 -6.7 370 305 341 -7.8 605 ; +98.4 3, 068, 852 2, 776, 041 1, 624, 849 1,599,043 -47.9 1,942,313 i -30.0 1,465,735 -9.8 2, 630 2, 164 2,270 : -13.7 2,303 r +6.4 Barrel Headings Circled headings for wooden boards: Production (rough) Shipments (finished).. . _ _ New orders (finished) Unfilled orders, end of month Stocks on hand, end of month sets 353, 674 585,774 445, 504 496, 759 303, 106 965, 163 854, 926 .sets . i 619, 607 541, 853 519, 250 474, 116 407, 094 779, 871 596, 346 442, 426 sets 456, 145 285, 493 698, 474 281,671 250, 939 282, 009 ...sets.. '1, 079, 508 1, 037, 375 1, 428, 571 1, 244, 367 948, 505 1, 072, 794 1,166,942 sets.. ;3, 205, 147 3. 341, 371 3, 500, 000 3, 030, 973 2, 923, 701 3, 309, 362 3, 278, 677 -32.0 -4.2 -1.3 -23.8 -3.5 -64.5 -12.9 -is!? -10.8 STONE, CLAY, AND GLASS PRODUCTS Face brick, averages per plant: Production thousands _ ! Shipments. thousands,. i1 Stocks, end of month thousands.. Unfilled orders, end of month ..thousands.. i Common brick: Stocks, end of monthBurned thousands.. 1 Unburned thousands ! Shipments thousands . 1 Unfilled orders, end of month, .thousands. _ 1 Plants closed down number.. Price, red, New York . dolls, per thous Porcelain plumbing fixtures: Net new orders. __ pieces.. Shipments pieces.. i Unfilled orders, end of month pieces.. Stocks, end of month pieces.. j Vitreous china plumbing fixtures: New orders pieces.. Shipments _ pieces.. Unfilled orders, end of month pieces.. ! Stocks end of month pieces Floor and wall tile: Production thous. of sq. ft Shipments, value thous. of dolls . Shipments, quantity thous. of sq. ft Stocks end of month thous. of sq. ft Terra cotta, new orders: Quantity net tons Value thous. of dolls . Sand lime brick: Production thousands.. Shipments by rail thousands.. Shipments by truck thousands Stocks end of month thousands Unfilled orders end of month thousands i 626 368 2, 832 730 482 402 2,958 761 526 447 3,037 844 640 686 2,960 899 504,836 76, 601 168, 282 224,825 487, 713 64, 492 121, 089 231, 203 73 13.50 405, 461 69, 460 233, 702 251, 105 11.25 517, 897 68, 611 131, 338 219, 233 91 12.75 13.25 13.50 6, 024 12, 242 21, 925 33, 353 13, 953 13, 239 22, 639 37, 374 12, 794 11,969 23, 464 40, 930 42, 130 12, 079 53, 515 42, 442 59, 647 17, 037 96,125 ] 48,831 227,925 190,096 332,584 557, 293 237, 727 240, 829 329, 482 544, 461 494, 042 246, 002 577, 522 538, 965 391, 091 335, 936 622, 217 462, 940 238,927 291,015 ', 570, 129 445,922 • 4,511 1,550 3,641 13, 175 4,663 1, 495 3,951 13, 902 4,649 1, 683 4,185 14, 169 5, 287 13, 907 9,898 836 10, 850 949 10, 284 1,040 16, 563 1,454 13,912 4,189 8,694 18, 538 14, 772 12, 789 4,945 7,024 15, 867 14, 830 10, 921 4,829 6,204 16, 920 12, 625 17, 063 4,273 9,391 16, 777 16, 942 11,999 60.7 6,200 21, 821 7,599 1.683 9,768 49.4 6,541 25, 116 9,672 1.683 8,797 47.5 6,563 27, 349 12, 237 1.683 6,542 4,657 5,902 4,103 17, 886 758 8,517 7,446 622 i 768 2, 757 958 852 687 2,939 1,007 729 774 2,614 1,074 427, 484 69, 160 184, 206 369, 857 54 17.00 371, 320 100, 953 197,411 348,211 2 16.50 -2.8 +12.0 -6.9 +6.6 -14.7 -.8 +5.5 -10.8 ! i i i i 4 :::::: +1.9 1 -18.2 590, 436 * 486, 129 -17.7 ! -4-41.6 1 -4-41.0 i 213, 166 239, 245 351, 091 596, 685 267, 740 220, 786 347, 645 618, 492 5,467 1,963 5,188 11, 282 5,453 1,879 4,948 11, 658 12, 226 1,153 12, 392 1,356 14, 633 1,513 -26.2 -20.7 -16.4 -23.8 44, 869 4,894 49,923 ! +11.3 4,596 : -6.1 10,500 4,829 i 8,397 14,590 ! 14, 123 16, 748 7,707 10, 811 13, 802 25, 415 16,217 6,229 10, 884 8,493 18, 413 -38.5 +13.0 -10.6 -13.0 -16.6 -35. 3 -22.5 -22.9 -71.8 -23.3 50, 849 22, 945 33, 491 51,273 ' +.8 18,236 - -20.5 31,016 -7.4 10, 223 51.7 10, 135 22 27, 445 14, 463 1.683 13, 468 70.0 13, 307 27, 605 14, 978 1.683 11, 450 14, 048 +31.7 -4.1 11, 100 23, 922 12, 997 1.683 14, 350 23, 654 13, 335 1.683 +3L3 +.6 +3.6 0.0 7,464 5,615 12, 406 8,746 17, 788 12, 722 9,300 5,135 15, 482 10, 264 +43.4 +45.4 10, 728 458 8,480 8,209 340 8,267 11,411 395 8,332 10, 119 435 9,632 6,170 265 9,821 8,205 10, 093 11,297 11, 641 10, 299 -11.9 2,207 76.9 2,680 1,958 6,327 10, 140 2,085 72.7 2,577 2,113 6,370 10, 633 2,570 82.9 3,424 2,646 6,283 11, 272 2,205 74.1 2,004 2,346 6,341 10, 658 -5.8 +1.7 -42.6 -5.9 -.7 -5.0 -38.9 -13.4 -8.4 -3.7 -10.8 +31.8 +64.0 -27.9 776, 975 1, 007, 538 < 16, 110 1,361,787 +75.3 1,113,782 ' +10.5 < 14, 599 -9.4 Portland Cement Production thous. of bbls.. O Deration t per ct of capacity Shipments -, thous. of bbls.. Stocks end of month thou^ of bbls Stocks clinkers end of month* thcus of bbls Wholesale prices, composite dolls, per bbl_. 41, 133 42,256 ! +2.7 38, 149 36, 551 -4.2 33, 409 20, 391 43, 560 31, 186 +30.4 +53.0 24, 069 1,434 29, 070 30, 348 1,193 25, 079 +26.0 -16.8 -13.7 -3.4 39, 144 39, 548 +1.0 +9.8 +13.8 -1.9 +6.2. -1.6 +.4 7,563 9,283 +22.7 9,957 8,384 10, 646 9,208 +6.9 +9.8 +ie!7 +12.3 0.0 Highways Concrete pavements, new contracts: Total. thous. of sq. yds.. Roads thous. of sq. yds.. Federal-aid highways: Completed— Cost thous of dolls Distance miles Under construction, end of month. .miles.. +14.9 +23.9 Plate Glass Production, polished thous. of sq. ft.. 9,953 | Glass Containers Actual production: 2,224 Quantity gross.. 74.6 Ratio to capacity _ per cent.. 2,474 New orders. _ gross.. 1,724 Shipments.. gross.. 6,551 Stocks end of month gross 9,616 Unfilled orders, end of month" gross.. * See table on p. 18 of the April, 1928, issue for earlier data. 2,234 2,421 84.3 72.3 2,390 1,965 2,368 2,491 6,488 6,239 11, 137 1 10,705 J 2 Revised. 4 Cumulative through Mar. 31. 37 TREND OF BUSINESS MOVEMENTS—Continued 1928 1927 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" December January 2,353 33.2 32.9 36.7 2, 685 34.8 39.7 36.5 2,936 40.6 38.1 36.9 3,137 39.4 39.6 39.5 3,243 41.8 42.4 40.1 3,023 39.0 39.0 41.0 3,030 39.8 39.6 38.8 1.0 4.0 1.2 4.2 1.4 4.3 1.3 4.2 1.1 3.7 1.0 3.5 1.0 3.7 842 .78 420 .75 1,024 .75 February March April March CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 PER CENT INCREASE (+) OR DECREASE ( — ) 1927 April Apr., 1927, from Mar., 1928 Apr., 1927, from Apr., 1927 +3.4 +6.1 +7.1 + 1.5 +7.0 +5.0 +7.1 +3.4 Per ct. increase or decrease cumulative 1928 from 1927 1927 1928 11,621 12, 001 +3.3 2,830 2,710 -4.2 STONE, CLAY, AND GLASS PRODUCTS— Continued Illuminating Glassware Production: Total .number of turns.. Ratio to capacity per ct. of capacity. _ New orders per ct of capacity Shipments per ct of capacity Unfilled orders, end of month number of weeks' supplv Stocks end mo number of weeks' supplv CHEMICALS AND OILS Chemicals Sulphuric acid: Exports thous of Ibs 541 580 728 560 Price, wholesale dolls per 100 Ibs .78 .78 .78 .78 Nitrate of soda: Imports long tons 144, 716 177, 187 66, 546 69, 867 Production in Chile — Quantity metric tons 236, 600 253, 800 233, 849 242, 800 Units reporting number of plants.. 62 63 63 62 Potash, imports long tons.. 16, 227 33, 774 22, 230 31, 646 Superphosphate (acid phosphate) : Production short tons 357, 956 350, 587 358, 008 2 345, 040 Stocks end of month short tons 1, 995, 954 2, 196, 7362 2, 087, 723 1, 348, 654 435, 921 Shipments . short tons 101, 540 2 201, 571 79, 885 Fertilizer: Exports long tons 74, 955 114,632 80, 319 87, 632 Consumption, Southern States -Short tons.. 157, 858 603, 343 1, 113, 569 2, 185, 435 Dyes and dyestufT, exports: Vegetable.. thous. of Ibs 276 490 422 239 Coal tar thous. of Ibs 2,848 2,222 1,735 1,715 Arsenic Crude: Production short tons Stocks end of month ^hort tons Refined: Production . short tons Stocks, end of month short tons Price index numbers: Crude drugs rel. to Aug , 1914 Essential oils rel to Aug 1914 Drugs and Pharmaceuticals rel to Aug 1914 Chemicals rel to 1913 14 Oils and fats rel. to 1913-14.. Wood Chemicals Acetate of lime: Production —• United States .thous. of Ibs.. Canada thous. of Ibs.. Shipments — United States thous. of Ibs Canada thous. of Ibs. . Stocks, end of monthUnited States thous of Ibs Canada thous of Ibs 131,819 i 28, 137 2 97, 480 99, 050 30 15,911 +15.7 0.0 127, 111 109, 580 862, 878 1,498,537 296 1,788 128, 689 870, 224 388 3, 595 300 1, 227 -17.8 +4.0 ! -25.6 +35.2 ; 523, 589 +203. 6 4 733, 200 +200. 6 115, 787 +38.2 +36.8 * 739, 032 +24.7 404, 330 -1.2 417, 137 -.8 ; 3, 732, 142 4, 765, 225 -3.1 +27.7 ! +10.9 -60.5 272, 449 4 243, 883 4 775, 392 4 1, 061, 004 +26.6 +76.8 2 223, 253 213, 714 21,559,847 1, 012, 805 2 292, 670 225,637 83, 802 : * 592, 791 -39.6 -1.3 ! +3.1 +45.7 1,168 9,638 1, 301 8,086 +11.4 -16.4 1,125 1,375 1,158 1,407 1,600 2,005 1,076 1,834 1, 380 2, 378 1, 075 2, 208 * 3, 941 * 3, 834 -2.7 782 2,101 827 2, 496 668 2,403 688 2,479 1,030 2,230 925 2, 059 4 2, 753 4 2, 183 -20.7 201 128 208 130 209 131 212 132 210 139 206 126 207 123 : -.9 +5.3 +13.0 : 169 112 128 169 112 130 169 112 122 169 113 122 169 113 125 155 113 134 156 113 1 132 0.0 0.0 +2 5 12, 718 1,186 12, 519 1,109 11,718 1,091 2 13, 022 1,152 11, 743 944 14, 223 1,007 -9.8 13, 138 932 I -18.1 -10.6 +1.3 54, 210 4,186 49, 002 4,297 -9.6 +2.7 12, 527 395 11, 094 831 9,539 507 2 12, 303 488 12, 062 1,636 ; 14, 002 785 -2.0 -11.0 13, 560 428 +235. 2 +282.3 47, 812 1,893 44, 999 3,461 -5.9 +82.8 22, 620 3,057 1,579 3.50 22, 207 3,454 974 3.50 4,683 6,344 | +35. 5 726, 694 42, 823 666, 638 39, 016 -7.2 -24.5 387, 684 40, 335 325, 888 41, 468 -2.2 -41.2 645, 852 22, 574 20, 584 819, 216 12, 949 41, 254 +3.9 +36.8 + 18.3 +332. 0 +43.7 +43.6 89, 076 176, 731 +98.4 75, 755 5, 300 69, 895 4,790 -8.1 -2.6 294, 855 21, 492 269, 190 21,955 -8.7 2.2 481, 807 33, 526 524, 259 31,113 3,526 295 3,535 319 569, 059 39, 925 420, 741 39, 910 +6.0 -5.0 +11.3 +15.3 1, 775, 727 152, 195 1, 796, 641 177, 950 +1.2 +69.2 597, 379 67, 938 606, 975 73, 706 +4 3 -2.3 29 1 -35.8 411, 114 36, 109 .83 416, 996 -12.1 35, 340 +246. 4 .83 0.0 -1.3 +12.8 -44.6 1, 540, 068 128, 002 1, 771, 922 105, 122 +15.1 -17.9 20, 566 19, 562 2 20, 186 15,931 17, 203 3,084 3,459 4,062 2,462 2,840 917 Exports thous. of Ibs 1, 760 2,037 2,078 1,630 3.50 Price, wholesale dolls, per cwt 3.50 3.50 3.50 3.50 Methanol, crude: Production — 610, 253 592, 855 2 657, 460 United States ...gallons.. 635, 166 649, 551 35, 768 Canada gallons.. 47, 234 45, 659 47, 377 49, 107 Stocks at crude plants, end of month — 326, 183 344, 798 United States gallons 354, 266 363, 325 2 333, 496 32, 773 46, 158 55, 776 Canada..gallons.. 39, 249 50, 299 Stocks at refineries and in transitUnited States gallons 1, 165, 544 1, 126, 152 1, 132, 377 1, 079, 047 1, 120, 970 55, 934 47, 268 56, 104 55, 298 Canada gallons 43, 458 41, 232 59, 244 33, 384 42, 871 Exports gallons.. 39, 369 Wood at chemical plants: Consumption — 64. 248 64, 080 2 72, 303 67, 101 68, 559 United States _. cords. 4,664 5,858 5,640 5,793 5,700 Canada. _.cords_. Stocks, end of month — 525, 750 543, 555 2 534, 161 560, 568 United States cords. . 565, 456 74, 734 74, 749 75, 117 74, 440 75, 124 Canada cords Daily capacity— 3,275 3,323 3,323 3,293 3,329 Total cords 261 251 249 261 226 Shutdown cords Methanol, refined: Production442, 023 468, 446 496, 073 390, 099 United States .gallons-- 470, 969 48, 400 44, 850 46, 000 38, 700 41, 000 Canada.gallons-Stocks, end of month412, 597 430,' 298 467, 723 455, 316 United States gallons-- 419,812 47,311 33, 044 48, 413 34, 752 29, 198 Canada gallons. _ Shipments469, 308 412, 597 482, 666 407, 351 United States ..-gallons-- 506, 310 35, 986 11, 505 39, 856 17, 775 Canada gallons . . 16, 937 .46 .46 .46 .48 .48 Price, wholesale. N. Y _. dolls. Der eal.. 94, 151 90, 479 28 19, 308 -15.4 + 10.0 -11.9 0.0 Revised. 1 +1.4 +8.3 | 0.0 —5 3 + 1.9 -7.4 ! -24.1 -10.7 -55.0 -5.8 o.o ; 0.0 -11.1 -19.5 -8.5 i 2, 879, 388 2, 510, 119 176, 038 177, 865 -8.3 \ -12.8 -1.0 +.1 -21.0 -1.6 +.3 1 -.5 +140. 3 -1.5 -7.4 -3.8 -21.3 Cumulative through Mar. 31. 38 TREND OF BUSINESS MOVEMENTS—Continued | 1928 1927 The cumulatives shown are through April, except where otherwise noted, Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" PER CENT INCREASE (+) OR DECREASE ( — ) 1927 i \ i 1 \ \ D ! Fe -r J-^y u ary ~ March i April March April Apr., 1927, j from ' Mar., i 1928 CUMULATIVE TOTAL FROM JANUARY I THROUGH APRIL 30 Apr., !s 1927, from i Apr., 1927 1 Per ct. increase or decrease cumulative 1927 - 1928 from 1M27 CHEMICALS ANI> OILS— Continued Ethyl Alcohol Production _ .. thous. of gals. J Withdrawn for denaturization. .thous. of gals.. Warehouse stocks, end of month, thous. of gals__ 19,502 18,760 8,158 13,050 i 10,098 | 9, 463 11,220 9,061 10, 120 11, 050 8, 68G 30,945 29,490 27, 839 27, 398 19, 196 29,607 31,332 ! 29,879 17,973 | 31, 895 31,035 29, 203 18, 447 30, 001 30,801 29,660 18,645 ; ; 4,568 61, 906 5,624 ! 40,338 ! 11,491 12, 224 8, 3] 3 12, 674 11,618 8,459 * 35, 060 31, 962 33, 132 31, 415 18, 043 i 4 101.420 ' 32, 190 31, 890 31, 517 19, 518 20, 765 : 45, 458 10, 132 24, 668 30, 989 +269. 2 31, 802 +12.7 4 35, 280 30, 265 — 8.0 Explosives (Black powder, permissible, and other high explosives) j Production Shipments New orders Stocks, end of month _. , thous. thous. thous. thous. of Ibs. ; of Ibs.. of Ibs.. of Ibs. _ Naval Stores * 99, 194 4 Qfi 935 * 93. IKS — 9.8 -6.1 -7. S 53, 645 oS, 7-1 -23. 8 199, 700 loo. 015 137, 122 131,971 i Turpentine (gum): Net receipts, southern ports barrels. . Stocks at ports, end of month .barrels. . Price, southern, in barrels, New York dolls per gal Rosin (gum): Net receipts, southern ports barrels. _ Stocks at 3 ports, end of month barrels. . Price, common to good (B), New York dolls, per bbl_. Rosin (wood): Production barrels. _ Stocks, end of month barrels. . Turpentine (wood): Production barrels Stocks, end of month barrels Pine oil: Production ._ gallons . _ Stocks, end of month ...gallons.. 28, 154 81, 939 Roofing Roofing felt: Production, dry felt . tons Stocks, end of month, dry felt tons.. Prepared roofing: Shipments.. thous. of roof squares. . 7,764 72, 035 .54 .60 .60 .60 .58 ! .74 115, 397 248, 755 41, 160 200, 262 30, 549 159, 053 25, 544 123, 074 67, 762 i 140, 805 | 36, 322 81, 013 .67 -3.3 97, 028 +165. 3 107,562 +14.4 -33.0 +42.9 -13.4 -30.2 1 +30.9 -17.4 8.70 9.54 8.94 8.89 8.54 11.23 9.70 -3.9 -12.0 28, 483 85, 553 29, 200 85, 413 32, 792 90, 429 35, 148 98,101 34, 831 i 108, 394 35, 313 53, 866 34,598 58, 652 -.9 +10.5 +.7 +84.8 5,291 12, 869 5,771 10, 631 5,645 10, 477 6,647 10, 862 6,052 ! 10, 963 i 7, 253 6, 953 7,035 7,473 -9.0 +.9 -14.0 +46.7 ; 27, 928 24. I}". 192, 141 588, 571 198, 646 605, 771 237, 953 641, 354 259, 079 693, 522 240, 845 \ 245, 232 727, 416 ; 345, 842 239, 027 355, 790 -7.0 +.7 +4.9 +104.5 1 933, 019 936, 523 +.4 25, 853 3,118 21, 743 3,088 19, 098 3, 558 25, 492 2,775 91, 782 93, 867 +2.3 — * 5, 987 4 +3. 4 -23.7 -9.9 -40.7 28, 402 210, 607 66, 055 3,386 27, 534 i 2,844 i 1,587 1,320 3,284 9, 405 59, 870 26, 872 8,939 49, 811 5,178 9, 406 56, 179 15, 200 4,618 65, 152 11,334 32, 751 22, 271 20, 889 13, 191 14, 009 13, 381 26, 205 27, 729 6,814 27, 624 26, 327 6,672 27, 288 27, 427 6,524 25, 209 3, 417 27, 638 3,089 +8.0 +2.5 -.4 | -7.9 -3.8 -13.7 ! 2, 891 3, 183 1 6, 950 48, 137 14, 747 ; 6,050 72, 305 19, 107 -50.9 +16.0 -25.4 23, 112 16, 130 35, 149 +10.6 -34.2 99, 020 99, 023 0.0 12,284 ; 11,169 10, 279 -8.2 +19.5 40, 965 52, 865 +29.0 24, 291 22, 800 25, 484 27, 234 ! 6,546 i 23, 569 23, 267 0, 175 -11.0 -16.9 +3.1 -2.0 6, 191 Fats and Oils Total vegetable oils and copra: Exports _ ...thous. of Ibs _ 8,481 Imports thous of Ibs 60, 010 Copra, imports short tons 29, 582 Copra or coconut oil: Imports thous. of Ibs 29, 339 Consumption in oleomargarine thous of Ibs 13, 549 Oleomargarine: Production . _ thous. of Ibs 27, 461 Consumption thous. of lbs._ 26, 717 Animal glues, shipments . thous. of Ibs 6,100 Animal glues (quarterly) : Production _ ..thous. of Ibs.. 3 28, 848 Stocks, end of quarter thous. of Ibs. . 3 33, 616 Edible gelatin (quarterly): Production thous. of lbs__ 3 4. 652 Stocks, end of quarter. _. thous. of lbs._ 3 7. 845 Cottonseed Cottonseed: Receipts at mills short tons Consumption (crush) short tons. _ Stocks at mills, end of month, .short tons.. Cottonseed oil, crude: Production thous. of Ibs Stocks, end of month _. thous. of lbs_. Cottonseed oil, refined: Production ._ thous. of Ibs Stocks, end of month thous. of Ibs. _ Factory consumption (qtly.) .thous. of Ibs.. Price, yellow, prime, New York dolls, perlb... Consumption in oleomargarine __ thous. of Ibs Cottonseed cake and incal: Production short tons. _ Stocks, end of month ...short tons . Exports short tons Flaxseed Minneapolis and Duluth: Receipts .. .thous. of bushs Shipments thous. of bushs Stocks, end of month thous. of bushs_ _ Imports .thous. of bushs.. * Revised. I :; 3 30, 777 3 36, 275 '• • 328,040 l | 336,429 +6.7 +7.9 +9.8 — 4 3 5, 583 3 9, 020 ji 35,344 +20.0 4-15.0 +4.5 -2.6 ii 483, 281 605, 206 992, 049 339, 212 570, 408 763, 353 177, 229 450, 627 489, 955 95, 296 323, 307 261, 944 15, 947 i 164, 872 i 113,019 | 192, 057 157, 578 181, 022 168, 519 144, 658 159, 302 108, 387 124, 730 56, 945 i 83, 371 176,051 502, 901 3251,805 143. 378 538, 257 138.231 124, 848 506, 832 i 541, 640 i s 303, 478 84, 159 ! 516, 232 .100 .101 2,154 2,162 268, 757 190. 354 43, 327 259, 275 177, 118 53, 249 .093 2,114 .099 2,214 202, 264 I 170,827 ! 27, 671 i 150, 984 110,819 12,514 660 457 2, 668 ! 1,264 I 595 612 2, 087 1,671 4 94, 146 92, 716 20, 001 105, 407 i +12.0' 104, 283 1 4-12.5 « 20. 010 0. 0 1, 509'. 214 I -39.7 358, 989 ! 615, 072 ! 561, 686 1 103, 239 352, 994 311,931 -83. 3 -49. 0 -56.9 -84.6 -53.3 -63.8 1,517,424 2, 504, 573 186, 914 i 139,879 i 106,887 ! -47.5 123,141 i -33.2 -46.7 -32.3 755, 238 170, 868 ' 505, 199 ! ' 342, 229 ! 111,408 ! -32.6 531,376 ! -4.7 J +20.5 2 ; .096 39,265 ; j .095 -24.5 689, -2.8 -11.3 ---.091 | +3.1 +8.8 2.013 2, 487 82, 273 84, 870 8, 230 , . 278,417 j 178,737 ! 23,860 164, 748 -45. 5 180, 741 -23. 4 8,636 i -34.2 574 398 i 2,023 i 2,097 374 -20.3 330 -4.6 1,860 i -22.0 2, 360 1 +2. 8 2,173 -9.1 -7.4 -50. 1 -53.0 —4. 7 32, 368 +14.0 231,012 i +9.7 58, 584 ' -11.3 -58.6 422 491,012 -35. 0 490.610 —28. 8 | 8,679 \ 8, 503 -2.0 1, 130, 665 \ 694, 796 -38.5 175, 370 101,604 -42.0 i [ 1,079 2,035 3,997 1.029 8 925 576 3, 212 1,181 Quarter ending in month indicated. 474 584 1,627 1.718 ; j i !: !! 4 +26.7 2,250 +77.0 1, 686 -12.5 -27.2 8, 021 ! Cumulative through Mar. 31. 2,654 + 18.0 2. 229 ; +32.2 o. S34 — 27 °: 39 TREND OF BUSINESS MOVEMENTS—Continued 1927 The cumulatives shown are through April, except where otherwise notedEarlier data for items shown here may be found on pages 24 to 138 of the February, 1928, 'Survey" 1928 ! December January February March March April CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 PER CENT INCREASE (+) OR DECREASE ( — ) 1927 Apr., 1927, from Mar., 1928 April Apr., 1927, from 1927 Apr., 1927 1928 Per ct. increase ( } or tdecrease (-) cumulative 1928 from 1927 CHEMICALS AND OILS— Continued Flaxseed— Continued Oil "mills (quarterly): Consumption thous. of bushs Stocks, end of quarter . thous. of bushs-. Linseed oil: Shipments from Minneapolis.thous. of lbs__ Production (quarterly) thous of Ibs Factory consumption (qtly ) thous of Ibs Stocks, end of quarter thous. of Ibs Price, New York dolls, per lb_. Linseed cake and meal: Shipments from Minneapolis. thous. of Ibs.. Exports thous. of lbs__ 311,037 s 3, 087 s 11,871 3 4, 261 s 12, 701 3 9, 179 -6.5 -53.6 < 28, 587 * 41, 662 +45. 7 4 51, 902 245, 187 4 -40.5 85, 143 190, 167 +64. 0 -22. 4 -9.0 +54. 8 -10.0 +55.9 -31.7 +24.5 -4.1 -19.1 76, 572 53, 970 90, 242 56, 207 +17. 9 +4.1 -.6 +5.1 -76.0 -51.9 29, 414 46, 385 13, 695 33,046 -53.4 -28.8 20, 182 22, 050 -55.2 53.3 -58.6 49.6 60, 570 73, 918 60, 589 75, 372 +.1 -53.3 8,878 3 238, 046 3113,302 3 193, 544 .096 13, 023 .098 10, 626 33 202, 162 109, 674 3 206, 319 .105 22, 581 53, 999 27, 056 44, 367 28, 540 53, 532 29, 547 53, 686 38, 582 12, 732 64, 866 82, 368 152, 560 23,542 14, 284 74, 260 152, 760 22, 488 12, 771 69, 939 143, 919 26, 263 14, 883 63,625 129, 552 17, 949 14, 269 51, 404 109, 392 16, 605 12, 164 40, 455 83, 121 14, 420 17, 636 5,956 11, 560 2,276 6,536 2,740 7,290 2,723 7,660 5,084 9, 009 211,363 2 15, 935 15, 201 18, 647 18, 372 21, 828 18, 655 23, 794 8,361 11, 103 16, 395 21, 026 .098 12, 917 15, 722 3 223 751 33 112, 199 237, 517 .099 .098 +7 6 +38.0 10, 826 -6.0 +10.7 8 +2.3 +22.7 +15.1 -7.5 —1.0 .106 11, 178 64,896 ! -28.1 FOODSTTJFFS . Wheat Visible supply, end of month: 90, 506 United States thous of bushs Canada thous of bushs 147, 506 26, 522 Receipts, principal markets.. -thous. of bushs.. Shipments, principal markets.thous. of bushs.. 19, 440 Exports: United States6,917 Wheat only thous. of bushs. _ Including wheat flour.thous. of bushs.. 211,972 Canada— Wheat only thous. of bushs.. 44, 809 49, 114 Including wheat flour.thous. of bushs.. Prices: No. 2, red winter, Chicago-dolls, per bush.. 1.38 No. 1, northern spring, cash Minneapolis dolls per bush 1,275 8 1.43 1.54 1..62 1.81 1.34 1.34 +11.7 +35.8 1,293 1,263 1,315 1,417 1,359 1,341 +7.8 +5.7 42, 604 8,115 42, 415 7,246 41, 140 6,737 40, 835 6,643 2 38, 028 5,281 -13.2 +2.1 154, 786 * 19, 077 167, 059 4 21, 464 +7.9 +12. 5 9,235 10, 877 1,767 745, 242 53 10, 451 9,132 10, 502 1,579 744, 227 55 8,207 8,872 10, 107 1,464 727, 287 56 9,340 8,936 10, 396 1,455 700, 540 50 2 10, 076 8,309 9, 667 1,154 659, 198 49 8,551 -13.4 +.7 -13.1 -5.6 +4.1 +4.1 33, 892 4 29, 068 * 4, 182 2, 660, 055 36, 030 4 31, 347 4 4, 660 2, 948, 015 +7.8 +11.4 +10. 8 4 26, 515 4 28, 046 +5.8 6,100 7,150 6,970 6,200 6,500 6,600 1,126 957 1,245 766 947 768 1,011 1,142 1,097 609 867 1,029 1,016 415 +8.5 -46. 7 +46.7 3,766 2, 956 4,300 3,285 +14.2 +11.1 12,810 +64. & Wheat Flour Grinding of wheat: United States thous. of bushs.. Canada thous of bushs Production: United States, actual thous. of bbls.. United States prorated thous. of bbls Canada thous of bbls Production, grain offal thous. of lbs._ Capacity operated flour mills per cent Consumption (computed) thous of bbls Stocks, all positions, end of month (computed) thous. of bbls.. Exports: United States thous. of bbls.. Canada thous. of bbls.. Wholesale prices: Standard patents IVtinn dolls per bbl Winter, straights, Kansas Citv dolls per bbl 2 2 44, 748 7,481 2 9, 659 10, 738 1,617 790, 088 54 10, 499 i 38, 835 I 8,367 686, 413 51 +8.0 +11.9 7.10 7.45 7.37 7.54 8.11 7.33 7.25 +7.6 6. 56 6.70 6.66 6.88 7.56 6.58 6.58 +10.0 1,206 28, 390 37, 088 16, 064 6,301 1,661 30, 078 36, 001 19, 551 8,330 4,097 43, 582 44, 126 22, 705 8,339 3,697 46, 734 41, 039 24, 402 9,243 3,355 36, 056 19, 579 18, 849 8, 285 2,180 50, 079 19, 310 10, 111 7,336 1,548 39, 130 10, 45J 12, 326 6,846 .87 .89 .95 .99 1.03 .73 .74 +4.0 +39.2 10, 733 22, 982 2389 10, 495 21.519 2623 11, 667 20, 634 2336 13, 975 16, 265 2453 10, 272 38, 155 2 228 9,127 3,298 2853 -68.7 -29.6 -14.6 +36.3 .55 1,202 .56 1,040 .58 822 .61 944 .49 734 .48 632 +6.6 +35.4 14, 734 12, 461 9, 360 10, 982 8, 603 6,661 6, 401 2,359 1, 901 4,457 2,206 2 1, 004 5,052 2,738 2915 2,717 2,339 876 2, 254 3, 002 2 2, 295 .88 .93 .96 .99 to, .78 2, 386 3, 275 .1, 309 1.09 1,477 3, 656 519 1 .09 1,333 4, 078 458 1. 12 1,982 4, 959 313 1.20 +14.9 Corn Exports, including meal _. _ thous. of bushs... Receipts, principal markets. ..thous. of bushs.. Shiprnents, prin. markets thous. of bushs.. Grindings (starch, glucose) thous. of bushs. . Prices, contract grades, No. 2, Chicago dolls per bush 7,768 -9.3 +116.7 —7.9 -22.8 -52.3 +87.3 -22.8 +52.9 -7.6 +21.0 82, 066 41, 575 27, 310 140, 745 +71.5 85, 507 +105. 7 34, 197 +25. 2 Oats Receipts, principal markets .. .thous. of bushs. . Visible supply, end of month. .thous. of bushs.. Exports, including meal thous. of bushs.. Prices, contract grades, Chicago dolls per bush Grindings Canada thous. of bushs Production, oatmeal and rolled oats Canada thous. of Ibs 12, 436 11,453 387 | .65 ! -62.2 -54.6 43, 829 48, 573 +10. 6 1,668 1,799 +7.9 4 2, 218 4 2, 806 +26.5 ! 4 25, 204 4 32, 803 +30.1 -46.2 +22.9 -14.6 +44.5 -4.3 -35.8 ! 9,474 18,627 +96. 6 6, 235 4, 696 -24.7 ! Barley Receipts, principal markets ...thous. of bushs, Visible supply, end of mo thous. of bushs ._ Exports thous. of bushs.. Price, fair to good, malting, Chicago dolls per bush 2 4,199 2,707 3, 649 2 2 2,210 1,619 1, 364 .83 +2.0 +21.7 Rye Receipts, principal markets. ..thous. of bushs, . Visible, supply end of mo thous. of bushs.. Exports, including flour thous. of bushs.. Pripp "NTo 2. Chir.affo dolls, ner bnsh * Revised. 3 Quarter ending month indicated. 1, 186 ! 5,051 366 1.27 1, 485 I 14, 048 786 1.00 1, 449 -40.2 6, 249 +1.9 4,500 +16.9 1.03 1 +5.8 1 -18.2 i -19.2 -92.0 +23. 3 6, 371 6,681 | Cumulative through Mar. 31. 5, 978 1,656 -6.2* -75. 2 40 TREND OF BUSINESS MOVEMENTS—Continued The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" PEE CENT INCREASE (+) OR DECREASE ( — ) 1937 1938 1937 December January February March April Total grain exports, incl. flour.thous. of bushs.. 2 18, 526 2 12, 264 2 12, 431 2 12, 659 12, 644 Per ct. increase (+) or decrease (-) cumulative 1928 from 1927 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 Apr., 1927, from Mar., 1928 Apr., 1927, from Apr., 1927 1937 1938 24, 200 -0.1 -47.8 68, 738 49, 998 -27.3 371, 901 -34.2 +66.7 2, 459, 362 3, 220, 524 +31.0 734, 405 569, 194 , 199, 258 130, 146 1,867,788 1, 696, 891 ! 442,528 455, 159 1 60, 538 99, 637 -7.7 +20.4 -8.4 +36.1 -15.8 +46.7 +57.6 +15.4 -13.7 -66.8 3, 301, 649 755, 799 3, 820, 899 758, 845 +15.7 +.4 1, 673, 527 287, 555 1, 473, 198 183, 928 -12.0 -36.0 ; -43.9 ! -34.9 ! -28.5 +71.7 -12.8 I -19.0 -13.9 -36.0 -13.6 +.8 -31.1 -11.5 24, 616 75, 224 9, 521 48, 437 251, 713 16, 109 82, 356 10, 320 36, 879 2B9, 877 -34. 6 +9.5 +8.4 -23,9 -8.7 6, 436 2,374 855 3,994 -5.4 -1.2 +8.9 -8.1 1, 498, 104 1,532,566 4, 104 -12.1 -11.9 -47.3 March April FOODSTUFFS— Continued Total Grains 2 1 2 14, 499 Rice Southern paddy, receipts at mills bbls.. 831, 033 853, 581 804, 645 942, 266 620, 032 Shipments: Total from mills pockets (100 lbs.)._ 1, 006, 759 1, 118, 120 961, 109 905, 678 835, 992 New Orleans. pockets (100 Ibs.) .. 234, 740 158, 323 224, 932 170, 442 205, 148 Stocks, end of month pockets (100 lbs.)__ 2, 290, 857 2, 106, 310 2, 038, 415 2, 137, 656 1, 957, 878 Exports _ pockets (100 lbs.)_- 267, 294 469, 435 322, 071 288, 771 392, 919 52, 744 58, 820 Imports pockets( 100 lbs.)_. 54, 723 39, 279 33, 085 Other Crops Apples: Cold-storage holdings, end of month. .thous. of bbls.. C ar-lot shipments carloads . _ Potatoes, car-lot shipments carloads.. Onions, car-lot shipments carloads Citrus fruit, car-lot shipments carloads. _ Hay, all tame, receipts . ...tons.. 6, 845 5,881 13, 206 2,234 12, 123 51, 806 621,153 5,307 5,305 19, 665 3,114 9,057 63, 009 3,699 4,913 22, 258 2,470 8,735 62, 673 2 2, 454 3, 569 23, 582 1,743 10, 194 57, 567 1,376 2,322 16,851 2 993 8^ 893 46, 628 3,141 5,276 21, 005 1,738 12, 946 63, 971 1,771 660 234 1,080 1,516 552 194 961 1,465 522 173 940 1,684 640 254 1,013 1,743 607 201 1,134 387, 750 393, 945 974 370, 385 379, 461 935 378, 251 384,815 1,143 361, 718 375, 482 1,052 436, 571 446, 970 2,025 71,651 63, 749 2 57, 256 46, 134 15.80 .220 14.78 .200 13.72 .205 .230 .230 5, 306 1,849 77 3, 443 5,267 1,810 1, 598 3,630 19, 497 2,968 12, 911 52, 716 Cattle and Beef Cattle movements, primary markets: 1,691 Receipts thousands 729 Shipments total thousands 319 Shipments, stocker and feeder. .thousands.. 980 Local slaughter thousands .. Beef products: Production, inspected thous. of lbs._ 403, 660 Apparent consumption ..thous. of lbs._ 394, 808 1,097 Exports thous. of lbs._ Cold-storage holdings, end of month thous. of lbs_. 76, 947 Prices: Cattle, corn-fed, Chicago.. dolls, per 100 Ibs.. 15.50 .196 Steer rounds No. 2 dolls, per lb_. Western dressed native steers, .238 New York dolls, per lb._ 2 1,674 +14.9 602 • +22.6 204 +46.8 1,066 +7.8 +0.6 +6.3 ! +24.5 -5.0 421, 666 436, 178 2 2, 043 -4.4 -2.4 -8.0 -14.2 -13.9 -48.5 77, 159 62, 928 -19.4 -26.7 13.34 .200 11.92 .158 12.28 .178 -2.8 -2.4 +11.7 +13.6 .221 222 .175 .187 +.5 +18.7 4,639 1,760 78 2, 892 3,483 1,385 65 2,077 3,754 1, 368 102 2,386 890, 408 618, 459 116,937 2 6, 804 2,403 j 785 ; 4,348 | 1, 703, 637 1,739,614 7, 791 ; Hogs and Pork Hog movements, primary markets: Receipts _ thousands.. Shipments, total thousands.. Shipments, stocker and feeder. .thousands.. Local slaughter _ thousands. . Pork products, total: Production, inspected thous. of lbs._ Apparent consumption thous. of Ibs. _ Exports thous. of lbs__ Cold-storage holdings , end of month: Total thous. of lbs__ Fresh and cured thous. oflbs.. Lard (included in prok products) : Production _ thous. of lbs._ Exports thous of Ibs Cold-storage holdings, end of month thous. of Ibs. . Prices: Hogs, heavy, Chicago dolls, per 100 lbs_. Hams, smoked, Chicago. dolls, per lb_. Lard, prime contract, N. Y. .dolls, per lb_. 4,209 1,485 95 2,745 ,^ 3, 4cu 3, 142 -24.9 1,101 ! +21.2 84 -16.7 2,050 -28.2 +10.9 +25.8 ; -22.6 : +1.3 793, 789 594, 140 87, 955 935, 467 1, 017, 548 641, 246 675, 668 109, 280 98, 794 585,081 529, 610 86,159 695, 176 539, 757 76, 508 603,019 473,266 91, 842 -14.3 -14.4 -26.3 578, 280 523, 425 739, 645 1, 006, 998 21,162,243 1, 132, 386 885, 916 2 997, 737 655, 638 959, 323 830, 515 738, 446 869, 823 770, 212 — 2. 6 -3.9 155, 157 62, 855 190, 557 70, 660 217, 354 79, 872 09 2 -16.0 54, 855 84, 007 121, 082 +73.7 8.58 .214 .120 8.32 .212 .124 8.03 .210 .116 7.83 .207 .118 1,609 723 174 896 1,705 705 116 994 1, 669 729 101 945 1,520 2705 95 2 814 44, 660 44, 246 47, 081 47, 055 44, 057 44, 428 42, 129 2 43, 052 4,408 4,404 4,020 5.63 13.01 6.05 12.65 8.16 15.13 61, 420 64, 219 71, 707 2 2 14,456 5,311 379 i 9,136 18,695 6,804 295 11,869 i i ii II +29.3 +28.1 -22.2 +29.9 -3.0 2,690,408 3,428,504 ' +27 A +11.7 2,023,480 2,464,983 ; i +21.8 -6.2 j 327,634 | 411,170 j +25.5 +30.2 +24.6 : 4 4 155, 052 79, 929 56, 554 140, 267 53, 040 126, 609 67, 345 164, 506 173, 063 92, 069 99, 611 +5.2 11.01 .270 .130 10.51 .268 .128 +16.1 -2.9 +2.5 -13.5 i -25.0 -5.5 1,591 778 134 814 1,558 719 140 843 1,486 690 118 800 +4.7 +10.4 +41.1 0.0 +7.1 +12.8 +13.6 +1.8 6,285 2,897 601 3,393 6,485 2,917 446 3,567 +3.2 +0.7 -25.8 +5.1 36, 248 37, 893 41, 544 42, 737 37, 545 38, 641 -14.0 -12.0 -3.5 -1.9 163, 760 166, 613 169, 516 172,428 +3.5 +3.5 3, 252 1,974 2,940 1,862 -39.3 +6.0 8.41 15.38 8.90 15.98 8.00 15.08 7.78 15.81 +1.0 +3.9 +14.4 +1.1 2 74, 949 70,526 60, 951 58, 521 -5.9 +20.5 4, 557, 816 5, 096, 122 +11. £ 3, 929, 699 4, 171, 114 +6.1 9.09 .201 j .121 414, 574 230, 111 562, 963 ! +35.8 287, 015 +24. 7 Sheep and Lamb Sheep movement, primary market: Receipts thousands Shipments, total thousands Shipments, stocker and feeder.. thousands. . Local slaughter thousands __ Lamb and mutton: Production, inspected thous. of Ibs. _ Apparent consumption thous. of Ibs.. Cold-storage holdings, end of month thous. of Ibs.. Prices: Sheep, ewes, Chicago dolls, per 100 lbs_. Sheep, lambs, Chicago.. .dolls, per 100 lbs_. 2 2 Miscellaneous Meats Cold-storage holdings, end mo... thous. of Ibs. _ Total Meats Production, inspected ..thous. of lbs._ 1, 242, 109 1, 370, 298 1, 431, 989 1, 310, 789 983,046 1, 173, 290 1, 062, 230 -25.0 -7.5 Cold-storage holdings, end mo .. .thous. of lbs_. 721, 055 879, 919 1, 146, 474 21,297,700 1, 251, 020 971, 565 2 993, 134 -3.6 +26.0 Apparent consumption thous. of Ibs 1, 033, 194 1, 116, 668 1, 065, 135 21,046,326 942,985 ; 1, 029, 464 948, 077 -9.9 -.5 4 2 Rev ised. C umulative through IV Car. 31. 41 TREND OF BUSINESS MOVEMENTS—Continued 1927 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" PER CENT INCREASE (+) OR DECREASE ( — ) 1927 1928 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH APRIL 30 Per t. increase ( } or tdecrease (-) cumulative 1928 from 1927 Apr., 1927, from Mar., 1928 Apr., 1927, from Apr., 1927 1927 1928 13, 956 77, 282 -n, +14.7 -26.5 76, 386 84, 345 -31.7 +10.4 28, 610 34, 887 20, 556 24, 731 -13.9 -23.2 + 18.6 +7.3 86, 655 85, 863 -0.9 37, 231 368, 071 126, 594 206, 647 53, 450 -63.9 -30.3 4 1,340, 318 352, 657 < 885, 029 389, 064 -33.0 +10.3 107, 896 45, 748 117, 757 44, 721 106, 873 45, 210 124, 099 48, 279 +9.1 -2.2 -5.1 -7.4 416, 458 169, 569 426, 282 173, 880 +2.4 +2.5 14,404 143, 844 .47 2 5, 716 156, 505 .49 5,139 163, 257 .45 3,044 154, 276 .51 3,436 165, 822 .50 -10.1 +4.3 -8.2 +49.6 — 1.5 -10.0 602, 001 623, 293 +3.5 24, 033 14, 409 37, 408 24, 456 13, 716 36, 618 30, 410 14, 655 41, 490 28, 960 15, 138 36, 570 32, 928 14, 872 42, 985 38, 126 16, 923 38, 212 -4.8 +3.3 -11.7 -24.0 -10.5 -4.3 123, 913 59, 417 153, 958 107, 859 57, 918 152, 086 -13.0 -2.5 -1.2 64, 035 7,474 211 8,878 55, 862 5,347 257 1,324 48, 784 5,303 208 1,148 43, 303 5,759 266 2,011 41, 735 6,229 187 668 47, 840 7,824 346 3,191 45, 616 6,923 327 1,117 -3.6 +8.2 -29.7 -66.8 -8.5 -10.0 -42.8 -40.2 25, 143 1,399 10, 921 22, 638 918 5,151 -10.0 -34.4 -52.8 47, 765 .29 41, 793 .29 36, 710 .24 31, 887 .25 30, 152 .24 35, 193 .25 32, 487 .24 -5.4 -4.0 -7.2 0.0 608 862 1,320 2,034 2,310 1,997 2,729 +13.6 -15.4 6,872 6,516 -5.2 882 47, 020 26 38, 575 66 31, 362 2 1, 087 234,411 4,497 51, 691 1,868 33, 272 5,501 +313. 7 52, 053 +54.7 -18.3 —. 7 24, 820 8,310 20, 618 8,457 2 17, 924 2 7, 635 15, 844 2 8, 299 18, 496 11, 622 10, 935 7,812 14,608 9,721 +16.7 +40.0 +26.6 +19.6 19, 048 4,656 2,345 6.00 15, 151 5,216 3,819 6.00 10, 868 6, 034 4,707 5.84 13, 169 6,381 2,700 5.83 5,378 3,881 2,974 5.75 8,317 3,689 2,761 5.84 +21.2 +5.8 -42.6 o +58.3 +73.0 -2.2 -.2 11, 282 13, 871 +22.1 140, 133 117, 115 4,532 Exports thous. of Ibs. . 4.57 Wholesale price, New York.dolls. per case.. Production, condensed and 99, 465 evaporated milk _ thous. of lbs._ Powdered milk: 5,723 Manufacturers' total stocks.. thous. of lbs_. 336 Exports thous. of lbs._ 5,559 Net new orders thous of Ibs Fluid milk: ReceiptsBoston (includ. cream) . .thous. of qts.. 17, 376 108, 272 Greater New York thous of cits Production22, 627 Minneapolis, St. Paul thous. of Ibs.. Consumption in manufacture 7,363 of oleomargarine thous. of Ibs 118, 444 95, 120 7,360 4.58 93, 458 65, 470 7,531 4.46 75, 949 56, 201 8,742 4.23 94, 187 72, 121 6,421 4.23 47, 476 9,346 6,232 4.50 58,455 +24.0 +61.1 8,531 +28.3 +745. 4 7,054 -26.5 -9.0 0.0 -7.6 4.58 | 23, 171 30, 054 +29.7 102, 847 131, 323 181, 476 170, 884 152, 840 -5.8 -6.3 571, 407 58G, 530 +2.6 11,716 303 6,036 6,601 171 4,679 +75.3 -21.7 +.4 1,029 18, 474 1,133 21, 759 +10.1 +17.8 « 50, 664 318, 375 * 51, 630 « 328. 336 +1.9 +3.1 +4.0 104, 343 109, 767 +5.2 -9.4 +7.9 26, 109 30, 104 +15.3 158,556 i -19.6 417,332 I +5.3 12.6 482,656 379,210 +45.4 +3.8 +7.4 -15.2 +75.7 529, 092 1, 348, 400 1, 689, 114 654, 069 1, 438, 528 1, 495, 605 +23.6 +6.7 -11.5 December January February March 70, 350 117,490 29, 347 118, 154 20, 857 103, 494 18, 135 2 83, 169 16, 006 56, 783 15, 777 104, 697 14, 051 64, 787 14,300 53, 921 18, 860 44, 877 28, 316 34, 528 24, 387 26, 529 349, 112 95, 921 254, 394 168, 946 316, 392 79, 760 314, 241 103, 127 thous . of Ibs thous. of lbs._ 88, 164 33, 687 103, 861 42, 271 96, 768 41, 140 thous of Ibs thous, of Ibs dolls, per lb__ 46, 289 163, 244 .52 28, 273 159, 687 .49 21, 186 13, 826 35, 335 April March April FOODSTUFFS— Continued Poultry Receipts at 5 markets thous of Ibs Cold-storage holdings end of mo thous of Ibs Fish Total catch, prin. fishing ports.. .thous. Cold-storage holdings 15th of mo thous Canned salmon: Shipments United States Exports, Canada of lbs_. of Ibs cases cases 2 Butter Production (factory) Receipts, 5markets___ Cold-storage holdings, creamery, end of month Apparent consumption Wholesale price, New York Cheese Total, all varieties: Production (factory) thous. of Ibs Receipts, 5 markets thous. of Ibs.. Apparent consumption _thous. of lbs._ Cold-storage holdings, end of month thous. of lbs._ Imports thous. of Ibs Exports, United States thous. of Ibs.. Exports, Canada. thous. of Ibs American whole milk: Cold-storage holdings, end of month thous of Ibs Wholesale price, New York.dolls. per lb_. Eggs Receipts, 5 markets thous of cases Cold-storage holdings, end of month: Case thous of cases Milk Condensed milk: Total stocks, mfrs., end mo. — Case goods ..thous. of Ibs.. Bulk goods thous of Ibs Unsold stocks, mfrs., end mo.— Case goods thous of Ibs Exports thous. of lbs_. W^holesale price New York dolls per case Evaporated milk: Manufacturers' stocks, end mo.— Total, case goods.— thous. of Ibs. _ 8,334 236 4,880 12, 534 5, 230 2,645 5.98 2 2 9, 185 328 4,781 2 2 2 2 2 9, 113 266 6, 062 17, 490 109, 709 15, 964 104, 413 18, 176 114, 214 26, 140 26, 192 28, 780 27, 522 7,762 7,035 7,042 691 817 496 231 164, 551 448, 326 409, 447 666, 061 157, 549 400, 544 553, 004 321, 629 None. None. 46 7, 190 8,117 20, 058 201, 139 243, 364 205, 573 45, 026 219, 926 307, 050 192, 968 130, 034 344, 459 310, 612 333, 493 10, 204 None. None. 182,413 6,683 1 +28.6 336 1 +13.9 -.4 6,012 | 18, 140 113, 200 17,976 i 108,761 ! 27, 794 26,458 | 6,518 I 4 A A Sugar Raw: Imports — From Hawaii, Porto Rico___long tons.. From foreign countries long tons.. Meltings 8 ports long tons Receipts, domestic, at New Orleans Refined: Shipments 2 ports long tons long tons Exports, including maple long tons.. Prices: Wholesale, 96° centrifugal, N. Y_ dolls, per lb_. Wholesale, granulated, N. Y. dolls, per lb_. Retail, granulated, N. Y dolls, perlb.. Retail average. 51 cities _ .relative to 1913- . 2 204, 425, 468, 458, 45, 340 30, 387 3,651 40, 958 29, 542 3,184 47, 631 20, 283 8,842 70, 414 31, 621 9,865 .046 .056 .062 .129 .045 .057 .063 .129 .043 .056 .063 .129 .045 .057 .063 .129 Revised. 30 85,401 -14.0 49,441 +33.1 15,822 j -12.4 -29.1 -14.9 -45.4 0.0 +1.8 +1.6 0.0 ^Cumulative through Mar. 31. -6.3 0.0 +1.6 -3.0 60, 571 42, 092 8,645 .045 .058 .064 ! .129 l 84, 070 52, 056 18, 295 .048 .058 .067 .135 .048 .058 .063 .133 1,603 None. 276, 290 219, 574 -20.5 46, 418 30, 536 -34.2 42 TREND OF BUSINESS MOVEMENTS—Continued p^r c»r 1 1927 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" 19?3 PER CENT INCREASE (+) OR 1837 ; December January 86, 425 244, 852 212, 314 238, 129 212, 161 177, SOI F £ru- March April DECREASE ( — ) i March April Apr., 1928, from Mar., 1928 Apr., 1928, from Apr., 1927 -62.2 -23.5 +10.2 — 1.4 + 1.2 increase (+) or decrease (-) cumulative 1923 from 1927 CUMULATIVE TOTAL ! FROM J A N U A R Y 1 THROUGH APRIL 30 1927 i 192$ FOODSTUFFS— Continued Sugar— Continued Cuban movement (raw): Receipts at Cuban ports Exports Stocks, end of month Coffee Imports _ " Visible supply: f World United States Receipts, total, Brazil f Clearances: | Total, Brazil, for world Total Brazil for U S Price, Rio No. 7, Brazil grades, N. Y - long tons long tons.. long tons_. 898,615 1,016,015 586, 747 1,084,038 595, 154 326, 705 584, 153 447, 097 512,824 441, 653 851, 113 1, 202, 871 I, 325, 601 1,310,347 1, 449, 624 —8 6 ; 2,967,212 i 2,739,506 1,517,587 | 1,570, 116 -T-3.' 5 thous. of bags.. 1, 144 1,148 1,024 1,085 935 803 962 -13.8 9 ft — /. o , 3, 623 thous. of bags.. thous. of bags.. thous. of bags. _ 5, 041 768 1,372 4,862 782 1,216 4,792 833 1,022 5,050 873 1,324 5, 152 1 892 ! 1,195 ; 4, 318 765 1, 063 4,261 806 933 +2.0 +2.2 -9.7 +20 9 +10.7 +28.1 | 4,266 4,757 : +11.5 thous. of bags.. thous. of bags 1,441 876 1,237 687 980 507 1,306 789 1,042 518 | 1, 223 672 942 511 -20.2 -34.3 +10. 6 ' 4,353 2,296 4,565 2,501 +4.9 +8.9 dolls, per lb_. .142 .148 .157 .168 .154 .158 .162 -8.3 -4.9 Imports thous. of Ibs Stocks, United Kingdom, end of month ._ _ thous. of Ibs.. Price, Formosa, fine, New York._dolls. per lb._ 9,057 8,160 6,087 7,577 4,299 5, 369 5,251 -43.3 25, 081 26,123 +4.2 245, 505 .325 254, 957 .325 252, 704 .325 242, 771 .325 223, 464 .325 188, 551 175, 080 .345 -8.0 0.0 Tea ; .345 2 +1.4 | -18.1 4, 192 ; +15. 7 +27. 6 1 -5.8 \ j TOBACCO Consumption (tax-paid withdrawals): 397, 007 413, 532 Large cigars thousands 453, 605 497, 904 459, 022 528, 698 475, 980 -7.8 -4.6 -3.6 1, 912, 452 1,824,063 Small cigarettes . thousands 6, 870, 462 8, 369, 087 7, 531, 914 8, 470, 466 7,511,408 8, 026, 096 7, 880, 403 -11.3 -4.7 ! 29, 785, 021 31,882,875 i +7.0 26, 685 Manufac. tobacco and snuff, -thous. of Ibs.. 33, 002 32,310 33, 582 30, 602 35, 347 31, 561 -8.9 — 1.7 -3.0 ! 131, 786 129,496 •Exports: Unmanufactured thous. of Ibs 47, 885 42, 958 41,624 42, 007 42, 574 46, 938 35, 209 -10.5 +19.3 ! 173,527 ' -9.4 191,583 364, 467 962, 574 Cigarettes - thousands 836, 921 864, 541 1, 147, 089 747, 967 468,852 i +32.7 +144.7 ! 2,589,116 3,811,125 i +47.2 135, 470 Sales of loose-leaf, warehouses thous. of lbs._ 116, 822 61, 235 587 61,319 8,325 8,076 -92.9 -92.7 | 317, 122 205,617 1 -35. 2 Price, leaf, average warehouse sales, Kentucky dolls, per 100 Ibs.. 20. 220 19. 294 23. 227 12. 467 12. 735 10. 526 6.490 +2.1 +96.2 i TRANSPORTATION \ River and Canal Cargo Traffic Panama canal: 2,574 2, 372 Total cargo traffic thous. of long tons.. 2, 660 2,429 1,099 In American vessels thous. of long tons. _ 1,019 1,121 1,101 763 In British vessels _thous. of long tons.. 698 872 682 1,169 Sault Ste Marie canals thous. of short tons.. None. None. None. New York State canals. _ . thous. of short tons__ None. None. None. None. 98, 426 2 73, 093 Cape Cod Canal - short tons 30, 575 63, 371 2,504 Suez Canal thous. of metric tons.. 2,647 2,439 2 T 891 53, 883 Welland Canal short tons.. None. None. None. St. Lawrence Canal short tons.. 53, 793 None. None. 2 None. Mississippi River, Govt. barges short tons__ 114,063 105, 521 125, 328 104, 535 Ohio .River, Pittsburgh, Pa., to Wheeling, W. Va short tons.. 685, 546 517, 488 656, 435 680, 548 Allegheny River short tons._ 176, 540 81, 585 80, 245 118,900 Monongahela River. short tons.. 1, 965, 934 2, 327, 246 2, 056, 247 2, 103, 877 Ohio River, tonnage originating (quarterly): 3 Pittsburgh district thous. of short tons.. 3 2, 385 1, 845 3 1, 281 Huntington district___thous. of short tons.. 3 1,041 3 Cincinnati district thous. of short tons.. 3 139 107 3 1, 140 Louisville district thous. of short tons 3 592 3 Total. _ thous. of short tons.. 3 4, 945 3, 585 2,474 1,154 716 105, 857 52, 469 56, 931 112,000 772, 624 2,534 1,350 641 None. None. 52, 081 2,724 None. None. 104, 301 2,430 +1.9 1,410 I +4.8 491 +5.0 4,698 169 . 54, 155 +67.0 2,786 321, 670 241, 070 121, 673 +7.1 765, 632 744, 400 108, 433 184, 915 2, 529, 828 1,829,631 3 3 1, 999 1, 001 376 3 487 3 3, 562 +1.8 1 -18.2 ! +45.8 9,436 5,125 2,149 9,935 4,395 2,968 +65. 0 | 198, 559 4 7, 238 272,896 , +37. 4 447,384 ! + 11.5 TO. 3 -14.2 +3*. 1 I 83 7 i —76 4 ' -7.9 +33. 5 +3.8 -22.0 -18.7 -23. 0 -48.1 -27.5 « + 4.0 +40.8 +21. 6 +0.6 -0.8 + 10.3 -0. 5 -10.1 -20.2 -2.7 | 401, 066 3,4 656, 225 283, 280 4 6 835 265 4 7 977 ; + 10. 2 "" "i 2,627.095 j -23.1 4 q 280, 730 ! 4 6 487 370 > Ocean Traffic Clearances, vessels in foreign trade: Total thous. of net tons American thous of net tons Foreign thous. of net tons 5,296 2, 057 3, 239 5,163 1, 865 3,298 5, 035 1,877 3,158 5, 581 1, 895 3,686 35, 867 30, 742 9,294 2,888 20, 787 15, 218 12, 990 5, 907 204 214 207 5,537 2,090 3, 447 5, 147 1,882 3,265 6, 160 2,618 3, .542 41,869 26 847 42, 752 33 631 288 235 21,216 8, 053 13, 143 21,316 ! 7,727 i 13,589 +3.4 Shipbuilding Completed during month: Total gross tons _ . Steel seagoing .gross tons. . Building or under contract, end of month: Merchant vessels thous. of gross tons.. 4 4 67, 639 43, 587 4 4 43, 071 ! -36. 3 24, 013 | -44,9 Freight Cars Surplus (dailv av. last week of month): Total ". cars.. 464, 005 403, 792 372,916 344, 502 320, 762 248, 477 259, 736 -6.9 +23.5 Box cars 224, 247 182, 001 155, 554 125, 627 134, 069 131, 844 137, 432 +6.7 -2.4 CoaL- __ . _ cars. 183, 638 169, 463 168, 172 171,481 140, 091 68, 417 90,075 I -18.3 +55. 5 ; . Shortage (daily av. last week of month) : Total .. . .. . ...cars.. 25 4 None. None. None. 538 — 100 0 Box cars.. None. 3 None. None. None. None. -100.0 Coal cars . None. None. None. None. None. 466 i — 100 0 Car loadings: Total ... ... _ _ cars 4, 172, 605 3, 447, 723 3, 589, 694 4,752,031 3, 738, 295 4, 982, 547 3, 875, 589 -21.3 -3.5 ! 16,416,714 15,527,743 Grain and grain products cars.. 219, 482 187, 197 187, 045 237, 266 159, 131 195, 305 148, 524 -32.9 +7.1 | 695, 447 ' 770, 639 i + 10. 7 Livestoek... . cars 144, 519 127, 658 130, 005 143, 383 105, 146 136, 276 110,340 -26. 7 -4.7 ! 486, 684 506, 192 j +4.0 Coal and coke. cars.. 869, 877 752. 752 726. 259 869. 335 620. 985 1.082.226 P>63. 092 — 2S n 9 QHQ T} 1 i — K 2 ! 3 nS7 9n9 2 4 t See table on p. 23 of the April, 1928, issue for earlier data. Revised. i Quarter ending in month indicated. Cumulative through Mar. 31 'l! 43 TREND OF BUSINESS MOVEMENTS—Continued 1927 The cumuiatives shown are through April, except where otherwise noted. Earlier data for items whosn here may be found on pages 24 to 138 of the February, 1928, "Survey" December 193$ January February FT 'I C I > . T I \ CRi, VilM-+ ) OR DECREASE ( — ) 1927 March March April Apr., 1927, from Mar., 1928 April CUMULATIVE TOTAL FROM J A N U A R Y 1 THROUGH APRIL 30 Apr., 1927, from Apr., 1927 1937 1828 1, 159, Z'27 237, 090 4, 319, 204 5, 930, 710 j, 105,378 147, 045 4, 242, 002 5. 787, 156 ' 1,118,759 i 236, 909 1 1,488,769 [ 1,145,569 ! 225, 538 118,309 1, 071, 145 218, 500 1, 419, 204 1, 085, 187 217, 472 111,439 Per ct. increase i (+) or decrease (-) cumulative 1928 from 1927 TRANSPORTATION— Continued Freight Cars— Continued Car loadings— Continued. T/Qrgv't V'OdUCtS OY"6 Cars C8TS Merchandise and 1 c 1 Miscellaneous cors cars 343, 780 259,598 ''. 233,368 352, 611 270, 914 273, 757 2o7,31C> g> 1 <7 J 7 31,394 40 682 - '- ' 42, 859 54, 599 41. 055 101, 893 927, 299 974, 382 1,299,322 1, 040, 999 1, 315, 174 1, 047, 971 I, 460,' 873 1, 187, 712 1, 269, 695 1, 816, 086 1, 513, 663 1. 846, 356 1,530,012 -4.2 -19.9 -16.7 -6. 0 -59.7 -LI -4.7 -38. 0 -1.8 -,4 Railroad Operations Operating revenue: Freight Passenger Total operating.... Operating expenses Net operating income Freight Carried .. thous. of dolls.. thous. of dolls thous. of dolls_. thous. of dolls thous. of dolls _ mills, ton-miles 334, 742 81, 990 467, 598 377, 800 55, 334 34, 580 337, 382 78, 483 457, 426 363, 384 56, 634 36, 271 346, 024 69, 551 456, 593 348, 498 70, 064 35, 701 2 387, 739 70, 466 505, 185 373, 305 90, 774 39, 467 406, 578 76, 679 531, 617 395 735 2 94, 607 241,817 2 2 2 371,390 77, 332 498 428 384 668 73, 627 37, 102 =*s -4.7 -5.3 -3. 6 -5.8 Railway Equipment Locomotives (Am. Ry. Assn.}: Owned, end of month2 Quantity - number 60, 784 62, 238 60, 598 62, 275 60, 679 60, 471 60, 373 Tractive power _ _ mills, of lbs._ 2,614 2,596 2,595 2,596 2,596 2,613 2,597 o.'o In bad order end of month— Quantity .. . number. _ 8,257 9,334 8, 857 8, 287 8,915 8,733 8,563 +3.3 Per cent of total in use per cent 14.7 +4.4 14.5 13.7 13.6 15.1 14.5 14.3 Installed . _ number _ _ 141 135 142 154 -31.4 187 96 140 Retired number 222 378 267 194 259 201 223 -27.3 New orders . number _ 149 2 30 27 +120. 0 15 33 70 Shipments, manufacturers' (census)— Total . _ number 72 59 137 98 -34.3 46 47 70 Steam, domestic number.. 41 43 44 84 72 -13.6 22 38 11 Electric, domestic number _ _ 13 11 15 6 23 -60.0 23 Unfilled orders (railroads), end of mo.— From manufacturers number - _ 148 117 112 80 187 210 151 -4.3 In railroad shops _ number. . 13 S4 22 23 25 30 +25.0 20 Unfilled orders, manufacturers' ( Census)— 232 204 Total -.. number _ 392 334 222 188 178 +5.6 Steam, domestic ... number. . 178 146 129 255 +4.9 161 301 123 Electric, domestic number 39 42 +10.8 38 40 41 55 37 Exports, steam number.. 25 13 26 16 47 15 -38.5 Shipments (qtly), electric locomotives — 3 272 Mining number ._ 3154 3 123 —20.1 -47.4 3 19 311 Industrial number 3 JO Freight cars (Am. Ry. Assn.)Owned, end of month— 1 Quantity ... _ cars 2, 313, 375 2, 309, 577 2, 306, 816 222,303,688 2, 300, 955 2 33? 569 2 332 184 Capacity mills, of Ibs 211, 649 -.1 3210,923 210, 312 211,483 210, 649 210, 471 210, 193 In bad order, end of month — Quantity ears.. 130, 493 138, 870 135, 458 136, 115 139, 698 149, 869 +7.3 130, 470 6.2 Per cent of total in use per cent 5.8 6.2 5.7 5.9 6.7 +8.1 6.0 14, 114 New orders .. ... _ _ _. ...cars-. 3,362 +41.1 5,876 5,683 5,253 2,098 4,029 Shipments — 444 Total ..- - -cars. 2,545 774 4,449 5,570 +37.1 3,332 4,568 444 Domestic cars 4,324 2,536 4,445 5, 562 +31.8 3,281 576 Unfilled orders (railroads)— Total cars 12,431 26, 717 26, 305 -13.1 19, 748 22, 233 18, 464 19, 325 From manufacturers _ _ cars 9,341 17, 395 18,217 -14.8 17, 603 15, 459 20, 648 17, 589 In railroad shops- .. . ..cars 2,145 3,090 9,322 8,088 1,736 +9.5 3,005 1,585 Passenger cars: New orders cars 212 82 150 6 +215. 6 142 615 45 Shipments74 174 88 -36.3 86 78 80 51 Domestic cars 174 72 88 -32.0 50 34" 71 68 3 Unfilled orders, end of quarter cars_. 3364 +184. 6 3 1, 013 1, 036 3 In railroad hands, end of quarter cars.. 3 53, 495 —0 2 53, 999 3 53, 409 -3.0 j -3.9 -1.4 -48.7 -13.0 +22.2 -53.1 -47.2 -73.9 634 848 208 531 942 88 -16.2 +11.1 -57.7 372 241 52 232 147 55 -37.6 -39.0 +5.8 61 -45.5 | -40.1 -16.7 i i -43. 7 -49.4 -2.4 +6.7 112 —54 8 -9.1 '. - —1 3 +10. 6 +13. 6 +69.0 | 29, 996 17, 886 -40.4 -18.0 j -22.3 i 16, 251 16, 176 9,118 8,625 -43.9 -46.7 -26.5 -3.4 -78.5 i 778 884 +13.6 -42. 0 -61.4 i +2.3 —1 1 290 256 283 224 -2.4 -12.5 226,711 27, 941 237, 952 28, 403 +5.0 +1.7 ! Passenger Travel National parks: Visitors.. number Automobiles entered _ . . ... number Arrivals from abroad: Immigrants number United States citizens number. _ Departures abroad: Emmigrants number. _ United States citizens number _. Passports issued number. _ Pullman company operations: Revenue thous of dolls Passengers carried thousands _ . Hotel room occupancy! per ct. of capacity.. 26, 939 3,925 50, 591 6,679 57, 950 6, 658 57, 732 3,194 22, 350 18, 922 18, 146 19, 909 20, 888 31,941 26, 270 34, 217 9,085 25, 209 8,387 5, 323 27, 126 8, 896 4,708 34, 810 8,971 4,931 29, 422 17, 334 "~27,~6<J8~ 6,411 2,831 66 6, 963 2, 886 72 6, 393 2, 563 71 6, 131 2, 625 68 67, 089 10, 935 66,026 16, 783 64, 567 15, 648 68, 120 17, 335 71, 679 11,872 ! 59, 597 6, 887 56, 543 +24.2 8,508 +271. 7 29, 868 32, 752 33, 034 29 055 4, 244 27, 041 17, 556 4,185 26,815 27, 144 6, 458 2. 738 73 i '68 +26. 8 i +39. 5 : 1 1 4 4 70, 367 74, 762 4 4 65, 304 86, 067 -7.2 +15. 1 4 4 12, 121 78, 256 63, 134 4 4 14, 962 91, 358 62, 229 +23.4 19, 724 8, 309 4 19, 487 8, 074 -1.2 -2.8 198, 713 49, 766 +3.8 +2.1 +56. 3 ~~-6.~2~ 6 329 2 775 •> 72 i 4 4 4 +7.4 +16.7 -1.4 + 1.4 PUBLIC UTILITIES Telephone companies: Operating revenue thous. Operating income.. . ... thous. Telegraph companies: Commercial telegraph tolls.thous. Operating revenue thous. Operating income thous. of dolls of dolls of dolls. . of dolls of dolls. . 9, 785 10, 904 9,956 12,467 i 12, 201 13, 573 1,137 • 2, 009 1,228 t See table on p. 18 of the April, 1928, issue for earlier data. 2 Revised. 11,016 13, 747 1, 654 '! 65.679 16, 892 1 65, 163 16,650 4 ; 191,453 48, 738 4 4 4 4 4 30, 567 10,636 i 37, 919 13,152 i 4 4, 971 1,950 i 3 Quarter ending in month indicated. * Cumulative through Mar. 31. 10, 944 13, 489 2,297 4 4 30, 645 ! +0.3 +0.8 38, 241 -12.0 4, 374 4 44 TREND OF BUSINESS MOVEMENTS—Continued jPer ct. 1927 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" PER CENT INCREASE (+) OR 1927 1928 CUMULATIVE January February March April March April 179, 565 65,413 176, 467 64, 908 833,316 7.841 800, 722 7.852 Apr., 1928, from Mar., 1928 " THROUGH APRIL 30 | DECREASE ( — ) December m TOTAL FROM JANUARY i i crease (+) i or decrease (-) Apr., 1928, from Apr., 1927 cumulative 1928 from 1927 1928 1927 PUBLIC UTILITIES— Continued Gas and electric companies: Gross earnings thous of dolls 2 2194, 985 78, 937 Net earnings thous. of dolls _ Electric railways (212 companies) : 830, 930 Passengers carried thous. of persons ._ 8.018 Average fare cents _. Electric power production: 7,211 Total mills, of kw. hours __ 2,729 By water power mills, of kw. hours_. 4,482 By fuels mills, of kw. hours. . In street railways, 461 manfg plants etc f mills of kw hours 6,750 In central stations t mills, of kw. hours. _ Electric power production (Canada):* 1, 362 Total mills of kw. hours 1,339 By water power mills of kw hours 131 Exported mills of kw. hours Electric power gross revenue thous. of dolls. _ 166,200 2 196, 402 2 78, 934 2 2187, 398 74, 114 189, 271 72, 590 814, 172 8.026 769, 974 8.034 820, 733 8.034 2 2 2 2 771,816 < 548, 880 * 206, 068 -6.0 -3.6 3, 222, 479 6, 880 22 2, 585 4, 295 7,222 2,831 4,391 6,840 2,687 4,153 6,482 2,610 3,872 4 598 6,667 468 6,412 479 6,743 448 6,392 447 6,035 « 1, 353 * 18, 483 1,318 1,298 124 172,400 1,274 1,256 123 163, 400 1,333 1,315 136 1,150 1,134 134 146, 200 1,110 1,095 130 145, 700 « 3, 347 4 3, 298 4 387 467 205 93 81 75 112.0 90,8 81.2 457 224 91 80 75 111.6 88.9 80.5 462 233 91 82 113.' 8 91.3 81.5 464 246 90 82 74 114.5 292.4 80.4 494 226 99 90 79 119.4 98.1 89.5 487 226 97 87 76 117.3 97.5 87.4 13, 830 248.8 103 83 81 13, 361 231. 6 98 79 76 13, 477 258.2 100 85 76 13, 760 277.8 99 85 78 13, 200 14, 717 273.0 108 94 83 61 54 82.2 57 81.8 71 82.0 77 84.0 119.7 98.1 120.2 98.7 113.6 96.0 2 107. 7 288.5 112.3 86.1 60, 660 60, 743 60, 999 28.15 29.57 25.24 232.1 111 101 106 27.49 29. 22 23.60 232.1 109 98 100 28.93 29.16 25.80 234.7 110 104 102 27. 35 30.32 31.70 25. 25 17.39 27.59 30.60 32.11 25.05 17.34 27.53 30.00 31.39 24.92 17.48 49.6 48.5 1 50.4 48.1 ! i 49 47 25 25 34 38 38 43 52 39 50 7, 265 2, 739 4, 526 4 4 573, 071 225, 638 ! -1.4 3,176,695 4 4 +4.4 +9.5 21, 367 i +7.7 4 8, 155 +10.4 * 13, 212 +6.2 19, 836 * 7, 390 * 12, 446 * 1, 545 19, 822 4 4 3, 925 3, 869 4 383 1 +14.2 +7.2 +17.3 +17.3 -1.0 EMPLOYMENT AND WAGES Employment in factories: New York State thousands.. Detroit thousands.. New Jersey rel. to 1923.. Pennsylvania rel. to 1923 _ _ Delaware ...rel. to 1923.. Wisconsin rel. to 1915.. Illinois rel. to 1922.. Massachusetts rel. to 1914 ._ Total pay roll: New York State (weekly). -thous. of dolls.. Wisconsin rel. to 1915 New Jersey rel. to 1923.. Pennsylvania - rel. to 1923.. Delaware -rel. to 1923 . . Ohio construction employment rel. to 1923.. Employment, trade-unions U. S per cent.. Anthracite mines: Employment rel. to 1923-25.. Pay roll ..rel. to 1923-25.. Federal civilian employees, Washington D C end of month number Average weekly earnings, factories: Illinois dolls New York State dolls.. Wisconsin dolls.. Massachusetts rel. to 1914.. New Jersey rel. to 1923.. Pennsylvania rel. to 1923 . Delaware ...rel. to 1923.. Average weekly earnings (National Industrial Conference Board}: Grand total (both sexes) ..dollars.. Total male .dollars.. Skilled male dollars Unskilled male . dollars.. Total women - dollars.. Average weekly hours: Nominal (both sexes) , hours.. Actual (both sexes) hours Wages, road labor, by districts: New England cents per hour . Middle Atlantic cents per hour South Atlantic .cents per hour. _ East South Central cents per hour West South Central cents per hour.. East North Central cents per hour . West North Central cents per hour.. Mountain cents per hour.. Pacific .cents per hour United States, average cents per hour.. Wage rates, U. S. Steel Corp... cents per hour.. Wages, steel workers, Youngstown district .. ..per cent of base.. Applicants per 100 jobs, employment agencies: United States . number Eastern States number Central States number Southern States .number _ Western States number.. 2 2 459 253 90 80 74 -1.3 -2.0 -6.5 -9.8 14, 214 268.1 106 92 80 -4.1 -7.1 -3.0 -5.9 -3.8 -9.4 -13.0 -6.2 66 65 +8.5 +2.4 +18.5 114.3 91.3 115.5 93.0 +4.3 -2.7 -2.8 -7.4 61,049 59, 591 59, 772 28.48 29.64 27.62 235.6 110 104 104 28.72 29.78 25.80 234.2 110 105 104 29.07 29.17 25.81 234.9 110 105 104 -2.9 -7.7 -2.0 -1.8 -4.8 -4.8 -1.3 -1.2 -1.7 -1.8 -5.7 -4.8 91.2 78.8 96 80 75 28.78 25.49 230.9 108 99 99 26.90 29.35 30.80 24.12 17.34 27.24 29. 80 31.22 24.66 17.23 49.5 47.3 49.5 47.9 49.6 48.0 50.0 48.2 55 46 24 24 32 42 37 46 54 39 50 53 48 24 25 26 39 37 41 50 37 50 52 47 22 26 28 41 39 43 54 38 50 51 48 23 28 28 41 37 42 52 38 50 50 46 23 26 27 41 36 46 53 40 50 51 51 32 24 26 39 37 42 52 39 50 128.5 125.5 125.5 125.5 125.5 128.5 170 192 203 188 87 175 208 189 222 75 154 171 166 264 65 137 146 147 219 69 2 227.2 238.2 (annual basis) 27.8 2 2 2 (annual basis).. 14.8 14.7 15.9 2 2 (annual basis) 28.6 7.9 8 . 3 2 2 (annual basis).. 4.7 3. 6 23.8 2 233.4 (annual basis) _ .i 32.0 2 23. 7 * See table on p. 22 of the April, 1928, issue for earlier data, t See table on p. 22 of this issue for earlier data. 2 31.8 2 145 155 165 I 145 80 -1.1 -5.7 +2.8 +11.9 0.0 -7.2 -2.4 -8.0 0.0 -2.6 ! ! 1 i ! ; ! I 27.39 30. 03 31. 50 24.60 17. 39 ; ••• -2.0 -4.2 0.0 -7.1 -3.6 0.0 -2.7 +9.5 +1.9 +5.3 0.0 il i +2.0 -2.1 -8.0 +4.0 20.6 +7.9 -5.3 +7.0 +1.9 +2.6 0.0 128. 5 0.0 -2.3 137 ! 146 ! 165 ! 125 67 119 122 140 111 62 -11.0 -14.6 -11.4 -17.0 +6.2 +15.1 +19.7 +5.0 +97.3 +11.3 39.3 242.5 26.0 229.8 8.3 26.4 5.0 26.3 ! 38.1 243.2 2 Revised. 248.3 232.4 29.7 26.2 +23.6 +33.3 +2.5 +19.0 +4.4 Factory Labor Turnover (Percentage of number on pay roll) Departures: Total per cent Voluntary quits.. .per cent Lay offs per cent Discharges... per cent Accessions .per cent 19.5 28.1 2 24.2 36.5 247.5 4 -18.6 -19.8 -14.4 -19.4 -19.8 Cumulative through Mar. 31. :::::::::::.i::::::: 45 TREND OF BUSINESS MOVEMENTS—Continued 1937 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey'' PER CENT INCUMULATIVE TOTAL FROM JANUARY 1 CREASE (+) OR THROUGH APRIL 30 DECREASE ( — ) : 1927 1938 i Apr., 1927, from ! Mar., ! 1928 Apr., 1927, from Apr., 1927 -4.0 +.7 -10.4 December January 59, 494 34, 486 25, 008 37, 465 24, 240 13, 225 38, 392 23, 842 14, 550 41, 787 23, 986 17, 801 40, 100 24, 159 15, 941 41, 147 23, 254 17, 893 84, 977 2, 427 43, 897 1,588 23, 044 435 6,857 221 11, 182 183 2,349 91 2,267 55 8,205 151 31,901 2,431 17, 114 1,591 8,658 436 2, 369, 221 3,760 183 692 91 800 62 2,624 154 35, 363 2,446 19, 001 1, 603 9,320 439 2,867 221 4,175 183 752 91 901 63 2,843 158 40, 447 2,467 21, 839 1,619 10, 855 443 3,123 222 4,630 183 912 93 1,128 64 3,707 161 39, 765 2,476 21,937 1,624 10, 784 445 3,060 222 4,984 185 918 93 1,172 64 3,656 161 35, 578 2,261 19, 601 1, 505 9,183 382 2,864 202 3,930 172 801 82 878 50 2,789 111 2,490 1,262 2,346 1,235 2,187 1,164 2 2,286 1, 245 2,171 1,207 2,522 1,243 2,443 1,198 -5.0 -3.1 -11.1 +.8 1,065 19 1,505 19 21, 796 891 9,475 3,151 3,233 299 2,064 113 312 22 907 19 7,722 913 5,562 3,151 1,826 300 598 113 388 23 1,096 19 8,906 914 5,926 3,113 1,902 298 673 113 480 23 1, 234 20 13, 134 930 6,578 3,118 2,153 296 788 111 512 23 388 22 1, 168 17 9,968 826 6, 500 3,102 2,542 294 693 92 465 22 2,427 17 13, 721 2832 6,652 3,112 2,592 294 871 98 ! +6.7 i 0.0 +10.1 +4.5 3.9 8.6 8.2 6.3 1,811 106, 430 2,176 95, 545 2,517 89, 023 2,926 105, 595 2,812 107,115 2,720 108, 086 40, 823 4,448 30, 579 3,438 30, 547 3,482 34, 280 3,670 30, 758 3,348 13, 516 102, 259 10, 468 78, 220 10, 645 78, 887 12, 356 92, 750 2 February March April March Per ct. increase ( } or tdecrease (-) cumulative 1928 from 1927 1927 1928 -1.3 +.3 -3.7 152, 182 90, 391 61, 791 157, 744 96, 227 61,517 40, 782 -1.7 ! -2.5 2,281 +.4 +8.5 2 22, 351 +.4 -1.9 1,515 +.3 +7.2 0.0 10, 788 -.7 388 +.5 + 14.7 -7.7 2 3, 314 -2.0 2205 ' 0.0 +8.3 4,329 ! +7.6 +15.1 171 +1.1 +8.2 1,000 +.7 i -8.2 82 0.0 +13.4 2 -1.3 1, 188 ! +3.9 | 52 0.0 +23.1 +8.7 3,364 -1.4 115 0.0 +40.0 137, 997 147, 476 +6.9 75, 448 79. 891 +5. 9 36, 236 39, 617 +9.3 11, 227 11,419 +1.7 15, 086 17, 549 +16.3 April DISTRIBUTION MOVEMENT Retail Sales Mail-order houses: Total sales, 2 houses ._ ._ thous. of dolls Sears, Roebuck & Co thous. of dolls.. Montgomery Ward & Co. -thous. of dolls. _ Ten-cent chain stores: Total sales (4 chains) thous. of dolls.. Total stores operated (4 chains) . .number.. F. W. Woolworth & Co thous. of dolls.. Stores operated number.. S S Kresge Co thous. of dolls Stores operated number McCrory Stores Corp .thous. of dolls.. Stores operated number.. 8. II. Kress & Co. thous. of dolls.. Stores operated. ._ number Metropolitan . _. thous. of dolls.. Stores operated . _ .number. _ F. & W. Grand -thous. of dolls Stores operated number W. T. Grant Co thous. of dolls.. Stores operated number . . Restaurant chains: Childs Co , sales thous sf dolls J. R. Thompson Co., sales -thous. of dolls. _ Other chain stores: Isaac Silver & Bros thous. of dolls Stores operated -.number.. Hartman Corporation thous. of dolls.. Stores operated number. . J. C. Penny Co . ... . _ thous. of dolls Stores operated number. _ United Cigars Stores Co. .. thous. of dolls.. Stores operated number. . A. S chul te (Inc.) thous. of dolls.. Stores operated number. _ G. C. Murphy Co thous. of dolls Stores operated... . . _ . _ . .number.. Installment sales in New England department stores; ratio to total sales ._ . per cent. . 12, 993 945 6, 242 3,151 1,915 298 930 111 40, 648 24, 091 16, 557 2 2 5.4 I i ! i i -1.1 -5.3 +1.6 +13.6 -5. 1 -6. 2 +1.1 +1.3 -11.1 -26.1 +.7 +1.4 +18.0 +6.8 0.0 +13.3 +3.7 +6.5 -0.4 3,149 3,274 +4.0 3, 434 4, 001 +16.5 10, 606 12, 830 +21.0 9,821 4, 784 8,990 4,851 -8.5 +1.4 +17.1 1,445 1,692 3, 162 3,237 +2.4 37, 511 42, 755 +14.0 24, 590 24, 308 — 1.1 9,700 7,796 -19.6 2,723 2,989 +9.8 5.1 Advertising Magazine advertising for the following month thous of lines Newspaper advertising thous. of lines.. 2,770 112, 501 -3.9 +1.4 +1.5 -4.8 Ml, 962 409, 083 5 12, 242 397, 278 +2.3 34, 590 3,572 31, 750 3,338 -10.3 -8.8 -3.1 +.3 126, 033 13, 511 126, 164 13, 938 +.1 +3.2 10, 941 84, 068 12, 715 98, 572 11,623 92, 019 -11.5 -9.4 -5.9 -8.6 45, 190 348, 744 44, 410 333, 925 -1.7 -4.2 3,417 33, 967 3,650 36, 394 3,378 34, 857 -9.2 -7.5 +1.2 -2.6 13, 489 337,492 13, 937 137, 900 +3.3 -7.2 +15.1 -9.7 +10.1 884, 957 3, 188, 876 722 4, 074, 555 889, 431 3, 779, 282 661 4, 669, 374 +.5 +18.5 -8.4 +14.6 -27.9 +18.4 4, 854, 046 180, 213 4,821,414 152, 701 -.7 -15.3 -5.7 +14.4 +32.0 +.5 2, 693, 278 861, 489 290, 581 3, 845, 348 2, 723, 843 991, 764 258, 339 3, 973, 946 +1.1 +15.1 +5.2 +11.0 +9.2 +6.7 580, 525 180, 390 23, 069 783, 984 630, 036 204, 461 37, 634 872, 131 +8.5 +13.3 +63.1 +11.2 2 Postal Business Postal receipts: 50 selected cities thous. of dolls 50 industrial cities thous of dolls Money orders: Domestic paid (50 cities)— Quantity .number Value thous of dolls Domestic issued (50 cities)— Quantity number-Value thous. of dolls 3,759 37, 452 3,416 34,117 3,340 33, 077 2 2 3, 764 36, 739 +.3 BANKING AND FINANCE Life Insurance '( Association of Life Insurance Presidents') Policies, new (45 companies) : Ordinary . number of policies 256, 546 183, 511 212, 120 264, 939 228, 861 245, 374 246, 519 -13.6 Industrial _ number of policies 783, 539 901, 786 846, 745 1, 049, 955 980, 796 890, 560 851, 905 -6.6 Group. -. _ -.number of contracts 491 125 175 159 202 176 -21.3 178 Total number of policies and contracts.. 1, 040, 576 1, 085, 422 1, 059, 040 1, 315, 096 1, 209, 816 1, 136, 112 1, 098, 600 -8.0 Policies and certificates issued: Total policies and certificates number.. 1, 164, 208 1, 111, 705 1, 112, 665 1, 350, 682 1, 246, 362 1, 200, 737 1, 729, 415 -7.7 Group insurance certificates .. .certificates.. 124, 123 53, 800 26, 408 35, 788 36, 705 64, 803 30, 991 +2.6 Amount of new insurance (45 companies) : Ordinary thous. of dolls 725, 847 575, 127 651, 037 790, 827 706, 852 740, 725 749, 923 -10.6 Industrial thous. of dolls 211, 076 236, 303 221, 948 273, 551 259, 962 241, 701 227, 279 -5.0 Group . . -thous. of dolls 165, 025 46, 841 91, 505 57, 986 62, 007 103, 057 +6.9 46, 960 Total insurance . thous of dolls 1, 101, 948 858, 271 964, 490 1, 122, 364 1, 028, 821 1, 085, 483 1, 024, 162 -8.3 Premium collections (45 companies) : Ordinary _ thous. of dolls 168, 114 148, 947 154, 292 168, 961 157, 836 159, 168 149, 993 -6.6 Industrial thous. of dolls 89, 926 54, 564 48, 193 51, 013 50, 691 45, 534 45, 650 -.6 Group thous of dolls 6,448 17, 623 7,618 6,465 5,774 5,928 5,427 -8.3 r o Total ... thous. of dolls 264, 488 211, 129 220, 108 226, 439 214, 455 210, 476 201, 070 Admitted life insurance assets (41 companies) : Grand total mills, of dolls.. 11, 597 11, 704 11, 796 11,893 10, 713 10,812 Mortgage loansTotal _ mills, of dolls.. 5,062 5,103 5,129 5,153 4,686 4,722 1,615 1,618 1,613 1,604 1,604 1,611 All other mills, of dolls.. 3,444 3,516 3,549 3,488 3,082 3,111 2 Revised. «Cumulative through May 31. +3.3 46 TREND OF BUSINESS MOVEMENTS—Continued 1928 1927 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" BANKING AND FINANCE— Continued Life Insurance— Continued Bonds and stocks (book value): Total mills, of dolls Government mills, of dolls.. Railroad _. mills, of dolls.. Public-utilitv .mills, of dolls__ All other _ -mills . of dolls Policy loans and premium notes _.mills, of dolls.. (Life Insurance Sales Research Bureau.) Sales of ordinary life insurance (81 companies): United States total thous. of dolls Eastern manuf. dist thous. of dolls.. Western manuf. dist thous. of dolls.. Western agric. district-.thous. of dolls.. Southern district .thous. of dolls.. Far western district thous. of dolls.. Canada total, 15 coinpanies.thous. of dolls.. Banking Check payments: New York Citv mills of dolls Outside New York City mills, of dolls.. Canada mills, of dolls Federal reserve banks: Bills discounted . . mills, of dolls Notes in circulation .mills, of dolls.. Total investments .mills, of dolls Total reserve mills, of dolls.. Total deposits mills, of dolls.. Reserve ratio percent Federal reserve member banks: Total loans and discounts., .mills, of dolls.. Total investments mills, of dolls. _ Net demand deposits mills, of dolls.. Brokers' loans, end of month: To New York Stock Exchange members mills, of dolls.. By New York F. R. member banks .. mills, of dolls _ Interest rates: Time loans, 90 days f .percent _ Call loans, renewal f per cent.. Prime commercial paper (4-6 months) 1 - per cent Prime bankers' acceptances <[ per cent.. N. Y. Fed. Res. Bank (rediscount)... oer cent. Federal land banks per cent Intermediate credit banks per cent.. Savings Beposits New York State savings banks end of month mills, of doll-* Public Finance Government debt, gross, end mo.mills. of dolls.. Customs receipts thous. of dolls Total ordinary receipts _ thous. of dolls Expenditures chargeable to ordinary receipts thous. of dolls.. Money in circulation,* end mo _ .mills, of dolls, _ Business Failures Liabilities (United States): Total commercial I hours, of dolls.. Manufacturing establishments thous. of dolls.. Trade establishments- .thous. of dolls.. Agents and brokers thous. of dolls__ Liabilities (Canada). _ _ _ -.thous. of dolls . Firms (United States): Total commercial . . ._ .. number Manufacturing establishments number Trade establishments number. . Agents and brokers number Firms (Canada) number.. Dividend and Interest Payments (For the following month) Grand total thous. of dolls.. Interest payments thous of dolls Dividend payments: Total thous. of dolls Industrial and misc thous. of dolls. _ Steam railroads thous. of dolls Street railways. .. ..thous. of dolls New Security Issues Foreign loans in the U. S.f thous. of dolls.. Foreign governments thous. of dolls _ December January 1927 F |£u- ;' March : 4,374 934 2,299 974 167 4,417 938 2,311 1,004 164 4,454 939 2, 329 1,017 169 4 506 939 . 2, 345 1,050 172 1, 369 1,383 1,396 1,412 833, 944 316,931 188, 770 131,530 113, 184 83, 529 48, 899 609, 228 261, 893 130, 338 90, 662 68, 847 57, 483 47, 569 38, 938 26, 509 2,311 37, 884 25, 007 1,871 32,740 21,755 1,665 44,786 25,847 i 1,812 i 609 1,813 990 2, 862 2, 473 66.8 423 1,577 812 2,971 2,452 73.7 493 1,588 752 2,974 2,426 74. 1 15, 433 6,386 13, 786 15, 265 6, 575 13, 888 4,433 3,718 April April March ! PER CENT IN- ! CUMULATIVE TOTAL CREASE (+) OR ! FROM JANUARY i DECREASE ( — ) i THROUGH APRIL 30 \ i Apr., Apr., 1 1928, 1928, iqow from from u^ 1927 Mar., Apr., 1928 1927 |!Perct. i ! !• i 4 0?3 921 2, 183 792 137 4 067 917 2,204 806 140 1, 268 1,282 836, 995 356, 736 183, 761 121, 369 92, 094 83, 035 42, 883 778, 451 316, 582 173, 372 114, 529 93, 904 80, 064 41, 631 -7.6 -8.3 -10.6 -6.3 -2.7 -5.3 +4.2 -1.2 -.5 -4.5 +4.2 +.2 -5.9 +12.2 ! 2,891,286 ! 1,224,346 : 636, 977 ! 417,751 329, 368 282, 844 157, 025 41,778 ! 25,082 1,729 34, 492 24, 028 1,443 32, 007 23. 579 1,473 -6.7 -3.0 -4.6 +30.5 +6.4 +17.4 125, 196 91, 845 5,621 524 i 1,567 733 2,931 ! 2.404 73. 8 ; 757 1,591 656 2,868 2,494 70. 2 456 1,711 593 3,183 2,328 78.8 444 +44.5 +1.5 1.718 562 -10 5 —2 1 3,207 2.314 ' +3.7 79 5 —4 9 +70. 5 —7. 4 +16.7 —10 6 +7.8 — 11 7 15, 143 6,558 13,716 15. 442 6, C27 : 13,523 15 951 6,6^7 13,946 14, 359 5,914 13, 006 14,353 5,924 13,041 +3.3 +.2 +3.1 +11.1 +12. 0 +6 9 4, 420 4,323 4,640 i 4,908 3,290 3,341 +5.8 +46. 9 3, 816 3,722 3,825 4,282 2, 803 2,883 +48.5 a +11.9 4.38 4.24 4. 56 4. 38 4. 63 4. 47 4. 94 5. Ob 4.44 4.13 4.44 4.18 +6.7 +13.6 4-11.3 +21 5 4.00 3.25 4.00 3.38 4. 00 3. 50 4. 13 3. 50 4. 38 3. 75 4.13 3.63 4.13 3.63 +6.1 +7.1 +6.1 +3.3 3.50 5 15 4.50 3 ")() 5! 15 4.50 4. 00 5. 00 4. 58 4. GO 5. Of) 4. GO : 4. 00 5. 06 4. 60 4.00 5.19 4.50 4.00 5.21 4.50 0.0 0.0 0.0 +£2 4, 166 4, 191 4, 202 4, 260 3, 975 2 3, 965 +.2 +7. 4 18, 036 43, 113 652, 708 18, 050 41, 975 168, 840 17,951 : 42, 130 228,118 ; 354, 178 5,003 349, 142 4, 677 173,283 i 248,258 4,690 i 4,749 51, 262 47, 634 45,071 • 54,814 : 34,985 57, 891 53, 156 29, 024 16, 733 5,305 2,914 14, 871 26, 446 6,318 3,249 12,751 l 24, 952 !! 7,367 4,012 | 20,412 26, 186 ' 8,216 6,829 13,236 : 16, 049 5,700 1,556 22, 368 28, 191 7, 332 2, 019 2, 162 2,643 2,176 i 2,236 1,818 2, 143 1,968 597 1,430 135 184 553 1,946 144 210 468 ! 1,581 i 127 i 210 | 546 1,566 124 150 432 : 1,276 110 125 569 1, 468 106 188 492 ! -20.9 1,342 -18.5 134 -11.3 152 -16.7 750, 200 460, 600 333, 000 176, 000 428,900 ; 258,750 • 561,230 372,050 289, 600 179, 800 33, 800 21, 000 157, 000 114, 300 33, 100 9,600 170, 150 i 189, 180 129,050 149,500 34, 600 ! 28, 380 6, 500 11, 300 106, 496 67. 547 159, 825 79. 808 131, 129 ; 118, 437 i 156, 039 117. 351 ! 85. 750 i 87. 130 i J See table on p. 21 of this issue for earlier data. * Revised. 731,145 832,250 • 318,664 343,463 ! 160,185 ! 185,240 ! 104,811 127,286 i 81,213 96,766 \ 66,272 79,495 I 40,290 44,823 ! : 4, 250 17,937 48, 277 641.626 i i 769,263 314,944 165,567 119,317 94,128 75.307 46J 718 17,848 1 45, 740 169,965 i 2,941,886 1,238,964 641,330 442.076 340,954 278.557 179,400 iR' j'crease 1 \^!~) 1 cumulative 1Q28 \ or de' : crease from •927 +1.8 +1.2 +.7 +5.8 +3.5 i -1.5 +14.2 157,188 i +25.6 97,691 I +6.4 7, 077 1 +25. 9 0.0 19, 008 52, 753 659, 116 18, 941 51, 253 -5! 3 190,380 ^ -73.5 326,709 330, 329 4, 862 4,748 ; 310,511 ; +31. 6 0.0 4,891 , +5.2 2.9 1,103,600 -36.2 -34.2 209, 278 25, 278 -35. 2 22,308 , -38.7 5,570 -30.6 1,557 i -77.2 -47.6 -28.1 +2.3 -0.1 78, 160 98, 437 32, 683 9, 743 -7.6 8,611 8,873 : -12.2 -4.9 -17.9 -17.8 1 1 973 6^ 160 478 750 1,999 :| +1.3 6,369 +3.4. 505 : +5.6 895 ; i -7.5 2 -18.7 -5.8 jQ2 080 -10.8 i -10.7 1, 184J814 545, 300 355, 900 131, 350 1 96,550 : 27, 100 7, 700 189, 400 2 131, 750 ; -30.6 150, 675 2 98, 100 -35.4 26,300 27, 550 -4.5 7,350 -31.9 11, 175 -.3 -1.6 +3.0 +4.8 2203,415 121.686 -23.3 -28.4 107, 375 84. 140 +31.7 +1.6 -7.3 +2.0 1,097,392 i -0.6 182,504 , -12.S 61,270 93,633 27,601 15,646 ;| -21.6 , -4.9 :! -15.5 i —60.6 +3.0 -13.4 5 2,338, 620 s 2, 408, 180 ' -20.2 |« 1,418, 370 5 1, 470, 900 ! 334,850 203,500 386, 650 i -40.3 254,900 -45.3 178,122 i 1,208,549 j ; 5 910, 250 « 656, 775 * 150, 250 5 51, 725 580, 803 332. 879 5 937, 280 '• +3. 0 +3. T +3. 0 5669,200 ;; +1.9 « 156,980 i! +4.5 556,100 ; +8.5 565,430 | -2.6 370.039 ii +11.2 * See table on p. 22 of this issue for earlier data. f See table on p. 22 of the April, 1928, issue for earlier data. 5 Cumulative through May 31. 47 TREND OF BUSINESS MOVEMENTS—Continued 1927 The cumulatives shown are through April, except where otherwise noted. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" 1928 Apr., December January j *'£»- March BANKING AND FINANCE— Continued New Security Issues —Continued 573,573 612,696 741, 950 Total corporation thous. of dolls ._ 852, 064 Purpose of issue408,545 \ 411,352 380, 707 New capital thous. of dolls.. 588, 591 165,028 201,344 Refunding thous. of dolls. _ 263, 472 361, 243 Kinds of issue138,545 126,857 273, 591 245, 096 Stocks thous. of dolls 578, 473 435,028 ; 485,840 496, 854 Bonds and notes thous of dolls Class of industry— 78,222 74,216 192, 781 73, 686 Railroads thous of dolls 517,412 210,155 ! 262,825 226, 733 Public utilities thous. of dolls 118,902 93,570 131, 262 54, 938 Industrials thous. of dolls 2,200 20,675 12, 952 42, 000 Oil thous of dolls 78,741 ! 48,038 58, 225 73, 935 Land and buildings thous. of dolls. 74,331 112,672 102, 803 Shipping and misc thous. of dolls.. 105, 803 Bond issues (Canada): 4,000 ! 5,000 2,500 Govt and provincial thous of dolls 11, 340 415 ! 1,560 4,379 Municipal thous. of dolls. 9,396 i 3,185 7,490 5,858 Corporation _ _ _ . _ _ -thous. of dolls . States and municipalities: 2 ! 2 103, 199 2 134, 412 2132, 627 Permanent loans thous. of dolls. . 117, 903 73,320 ! 113,389 44, 248 75, 359 Temporary loans thous. of dolls Tax-exempt securities outstand16,278 : 16,442 16, 510 16, 205 ing, end month mills, of dolls Agricultural Finances Loans outstanding, end mo.: Federal farm loan banks thous. of dolls. _ 1, 155, 644 1,158,717 1,168,354 1, 256, 111 608,798 : 609,984 611,004 Joint-stock land banks thous. of dolls.. 607, 477 74,888 ! 75,220 74, 119 75, 915 Fed. intermed. credit banks-thous. of dolls. _ 1,362 1,244 1,226 1,037 War Finance Corporation. -thous. of dolls. _ Stocks and Bonds Stock prices, average daily closing: 242.25 : 239.32 242. 50 256. 36 25 industrials, average dolls, per share. _ 118.29 ; 115.20 119. 00 119.68 25 railroads, average _. .dolls, per share 144. 26 142.13 139.30 147. 91 103 stocks, average dolls, per share _ _ 111. 33 112.25 111.73 112.36 Southern cotton mills dolls, per share. _ Stock prices, average weekly closing: 194.6 195.2 191.8 202.9 Total stocks (229) ... .. rel. to 1917-21. _ 158.2 ; 153.7 159.0 160.6 Railroads (31) rel to 1917-21 210.4 , 207.5 220.9 208.7 Industrials (198) rel to 1917-21 369.8 372.9 453. 3 366. 5 Automobile (10) rel. to 1917-21.. 582.3 ; 565.0 579.7 601.0 Chain stores (11) rel to 1917-21 150.5 148.5 148. 0 150. 5 Copper (11) rel to 1917-21 432.1 430.6 425.8 433. 9 Food (9) rel. to 1917-21.. i122. 3 125. 6 128.2 117.8 Machinery mfg. (5) el to 1917-21 107. 4 101. 9 106. 2 106. 4 Petroleum (17) _ rel. to 1917-21 231. 6 225. 3 227. 5 Railroad equipment (10) rel. to 1917-21 _ _ 218. 4 159. 1 154. 5 159. 3 157. 6 Steel (9) rel to 1917-21 44.4 46. 6 47. 5 49. 6 Textile (5) rel. to 1917-21. _ 178. 6 ISO. 3 188.8 Theater (3) rel. to 1917-21 178. 7 62. 1 64. 7 5S. 7 Tire and rubber (7) rel. to 1917-21.. 212! 4 220.5 : 209.2 225. 5 Tobacco (7) rel. to 1917-21 315. 7 294. 8 309. 9 283. 9 Traction, gas and power(16)_rel. to 1917-21 ._ 84, 988 56, 963 47, 165 Stock sales N. Y. Stock Exch.thous. of shares. _ 82, 367 Bond sales: 269, 374 222, 644 304, 610 Miscellaneous thous. of dolls 267, 918 11,910 20,864 16,611 Liberty-Treasury thous. of dolls... 23, 916 290,238 239,255 316, 520 Total thous. of dolls. - 291, 834 Bond prices: 97. 04 96. 50 95. 90 Highest-grade rails.p. ct. of pa , 4% bond-97.20 88. 75 88. 61 88.81 Second-grade rails-_p. ct. of pa , 4% bond-88.57 79.66 80.03 SO. 32 Public utility p. ct. of pa , 4% boiid._ 79. 55 81. 28 , 81. 33 80. 95 80.82 Industrial p. ct. of pa , 4% bond.Comb, price index. _p. ct. of pa , 4% bond-86. 15 ; 86. 13 8(5. 04 85.98 Bond prices, 1st of following montl : 5 Liberty bonds p. ct. of par., 105.94 105.96 106. 02 106. 05 105. 90 105. 92 105. 67 16 foreign govt. and city p. ct. of par.. 105. 60 102. 58 Comb, price index, 66 bonds-.p. ct. of par_. 102.60 102.41 102. 46 Bond yields: 4.21 Railroads (15) per cent.. 4.18 • 4.20 4.17 4.77 Industries (15) . .percent-4.76 4.79 4.79 4.62 Utilities (15) _ per cent 4.68 4.65 4.72 3.89 3.89 ; 3.89 Municipal (15).. . . . _ _ . . . percent3.90 3.91 Municipal bond yield (20) per cent__ 3.87 | 3.87 3.87 U. S. Treasury notes and 3.27 3.17 3.31 3.33 certificates,! 3-6 months per cent.. 3.30 3.34 Liberty and Treasury bonds t---per cent.. 3.35 3.36 Long-term real-estate bonds issued: 62, 962 Grand total thous of dolls 52, 322 61, 167 ; 39, 840 Purpose of issue32,759 ] 14,085 13, 520 Finance construction_-_thous. of dolls.. 24, 270 35, 557 11, 207 12,900 | 2,710 Real-estate mortgage. _. thous. of dolls. _ Acquisitions and 4,225 improvements thous. of dolls. 5,115 6,533 12,175 Kind of structure11, 965 Office and couimercial-.thous. of dolls. . 16, 055 29,000 i 22,415 4,010 Hotels . thous. of dolls. . 650 j 700 3,790 4,060 Ap<; /taients thous. of dolls 7,025 4,309 1,910 Gold GOLD AND SILVER 67, 872 73,624 | 72,119 Domestic receipts at mint fine ounces. _ 75, 575 877, 380 Rand output fine ounces.. 851, 225 2843,857 i 816,133 Imports thous of dolls 38,320 I 14,686 2,683 10, 431 Exports thous. of dolls.. 77, 849 52, 086 j 2 25, 806 97, 536 2 Monetarv stock, and mo.*. .mills, of dolls. _ 4,379 4, 305 4,373 i 4,362 t See table * See table on p. 22 of this issue for earlier data. April | March Per ct. in- crease (+ } or decrease (-) cumulative 1928 1 from i 1927 PER CENT IN- ; CUMULATIVE TOTAL CREASE (+) OR FROM J A N U A R Y 1 DECREASE ( — ) : THROUGH APRIL 30 1927 April i from Mar., 1928 Apr., 1927, from Apr., : 1927 ; 1927 1928 833, 206 494, 373 2 520, 452 +12.3 +60.1 \ 2, 410, 509 2, 761, 425 +14. e; 484, 090 349, 116 392, 426 101, 947 2 388, 871 131, 581 +27.2 +24.5 ! 1, 829, 388 -3.4 +165. 3 581, 121 1, 684, 694 1, 076, 731 -7.9 +85.3 310, 263 522, 943 114, 507 379,867 2 2 100, 059 420, 393 +26.6 +210. 1 +5.3 +24.4 601, 055 1, 809, 455 820, 761 1, 940, 665 +36.6. +7.3 95, 053 380, 541 138, 172 7,300 97, 152 114, 988 89, 716 188, 212 50, 979 31, 500 58, 510 75, 081 57, 830 -50.7 +64.4 196, 731 +67. 8 +93.4 58, 963 +5.3 +134. 3 79, 500 i -43.6 90 8 2 56, 594 +31.4 +71.7 2 70, 508 +11.9 +63.1 288, 764 1, 068, 802 366, 407 182, 288 245, 248 256, 299 440, 272 1, 080, 254 481, 906 43, 127 297, 866 404, 794 +52.5 +1.1 +31.5 -76.3 +21.5 +57.9 36 2,312 41, 845 5, 176 14, 625 -79.9 +33.9 ! 46, 295 32, 547 66, 379 9, 036 8, 666 61, 916 80 5 -73. 4 -6.7 119,958 20, 593 92, 069 67, 501 124, 808 67, 252 -9.6 -72.7 -3.9 -69.4 464, 233 287, 096 490, 196 282, 661 +5. 6i -1.5 15,517 15, 561 -5.0 -81.1 10, 044 11,531 -47.2 31, 260 +458. 7 1, 109, 354 1,117,914 614, 481 656, Oil 76, 895 78, 383 985 5,220 6,347 263. 34 123. 09 159. 16 110.97 70 58 30 73 199. 99 110. 74 121. 65 111.36 +2.7 +3.4 +7.6 -.3 +31.7 +11.2 +30.8 -.4 159. 0 143. 1 165. 6 251. 9 425. 2 116.7 326. 0 96.9 107. 7 189. 7 128. 8 38.6 18G. 6 53.1 170. 2 220. 8 56, 057 162. 5 147. 4 168.7 266. 6 446. 3 117.1 343.3 102.3 101. 9 187.3 135. 3 39.5 180.2 52. b 172! 7 226.7 49, 636 +6.1 +3.6 +6.9 +12.2 +3.0 +6.8 +2.3 +3.9 +9.8 +.3 +1.5 +6.0 +5.8 +1.1 +1.6 +7.6 -5. 2 +32.4 +11.8 +40.0 +90.7 +33. 8 +35.0 +29.3 +30.2 +14.4 +21.8 +18.3 +33.2 +10. 9 +5.9 +24.9 +49.8 301. 084 14, 489 315, 573 313, 565 45, 471 359, 036 290, 520 25, 800 31G. 320 i 2 +2L 7 -.3 +3.6 -43. 8 95. 33 87. 89 82. 17 81. 09 86.22 92. 96 83. 72 76. 10 79. 65 82. 6G 94. 74 84. 48 76. 19 79.58 83. 19 —.6 -1.0 +2.3 +.2 +.2 +.6 +4.0 -4-7.8 + 1.9 +3.6 105. 98 105. 46 102. 44 103. 62 105. 02 100. 71 103. 41 104. 74 100. 67 —. 1 ""*? •— . i +2. 5 +.7 +1.8 4.37 4.84 4.81 4.00 3.98 4.31 4.83 4.79 3.96 3.95 +.7 +.2 -1.3 +1.0 +.5 -1.6 — 1.0 -4.8 -.8 -.5 ' 3.21 3.48 3.39 3.47 +10.7 +.6 +6.8 -4.3 i 87, 748 46, 840 49, 794 +39.4 +76.2 i 29, 220 36, 865 11, 900 11,410 25, 912 +116. 1 +12.8 13, 937 +3.7 +164. 5 16, 323 18, 790 1,470 +286. 3 8,315 2,860 2, 775 18, 177 +22.1 11,380 +184. 2 2,720 -10.5 -19.7 +.1 +33.6 65, 166 ! 73, 822 68, 531 -4.0 825, 967 860, 511 824, 014 -5.9 5,319 16, 382 14, 503 +98.2 96, 469 2,592 5,625 -1.1 4,267 4,597 4.610 -.9 on p. 21 of this issue for earlier data. -4.9 +.2 63 3 188. 106. 120. 110. 215.2 164.8 236.2 508. 4 ! 158! 1 443. 8 133.2 116. 6 228. 2 i IfiO. 0 52.6 199. 8 55. 7 215.7 339.7 80, 569 4.24 4.78 4.56 3.93 3.93 j 3.62 I 3.32 I 14, 605 11, 395 3,635 I +62.3 ; -7.4 . .. . 184,613 ; 269,685 ; +46.1 1,212,555 ! 1,097,712 i -9.5 111,908 63,844 i -42.9 1,324,463 : 1,181,586 i -12.3 213, 392 251, 717 +18.0 92, 022 52, 457 89, 584 88, 032 -2.6 +67. 8 41, 623 39, 256 -5.7 68,495 ! 19,215 i 21, 102 77,985 16,755 13, 914 +13.9 -12.8 -34. 1 289,129 ! 278,781 3, 303, 646 3, 363, 337 112,549 61,008 25, 521 271, 897 -3.6 +1.8 -45. 8 2 Revised. 48 TREND OF BUSINESS MOVEMENTS—Continued 1928 1927 The cumulatives shown are through April, except where otherwise noted. Earlier data for items whosn here may be found on pages 24 to 138 of the February, 1928, "Survey" GOLD AND SILVER— Continued Silver: ProductionUnited States thous of fine oz Canada thous. of fine oz Stocks, end of month— United States __ thous. of fine oz Canada thous. of fine oz._ Imports thous. of dolls Exports thous of dolls Price at New York dolls, perfineo z _ _ FOREIGN EXCHANGE RATES Europe: England . . _dolls. per £ sterling France dolls, per franc.. Italy dolls, per lira Belgium dolls, per franc.. Netherlands dolls, per guilder Sweden dolls, per krone Switzerland _ dolls, per franc Asia: Japan dolls, per yen.. India dolls, per rupee.. America: 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: EuropeTotal thous. of dolls France _ _ . _ thous. of dolls Germany .thous. of dolls.. Italy thous of dolls United Kingdom . thous. of dolls North America — Total _ thous. of dolls Canada. thous. of dolls.. South America — Total thous. of dolls _ Argentina... thous. of dolls. _ Asia and Oceania — Total thous. of dolls.. Japan thous. of dolls Africa, total thous. of dolls By classes of commodities: Crude materials thous of dolls Foodstuffs, crude, and food animals thous. of dolls Manufactured foodstuffs.. -thous. of dolls .. Semimanufactures thous . of dolls . _ Finished manufactures thous. of dolls.. Exports Grand total, incl. reexports thous. of dolls.. By grand divisions: EuropeTotal thous. of dolls France thous. of dolls Germany _ . thous. of dolls Italy thous of dolls United Kingdom... thous. of dolls North America — Total thous of dolls Canada thous. of dolls.. South AmericaTotal . . thous. of dolls Argentina thous. of dolls Asia and OceaniaTotal thous. of dolls Japan. thous. of dolls. . Africa, total thous. of dolls Total, domestic exports only thous. of dolls. _ By classes of commodities: Crude materials thous. of dolls Foodstuffs, crude, and food animals thous. of dolls Manufactured foodstuffs thous. of dolls.. Semimanufactures thous. of dolls Finished manufactures thous. of dolls ._ Agricultural exports (quantities) : All commodities rel to 1910-14 All commodities except cotton rel to 1910-14 CANADIAN FOREIGN TRADE Total trade: Imports thous. of dolls.. Exports thous. of dolls December January February 5,015 1,723 4,980 1,433 4,490 1,272 353 608 3,770 7, 186 .580 574 1,141 6,305 6,692 .571 4.88 .039 .054 .140 .404 .270 .193 1927 March 2 2 April Perct. increase CUMULATIVE TOTAL PER CENT INFROM JANUARY 1 CREASE (+) OR i THROUGH APRIL 30 DECREASE (— ) j March April Apr., 1928, from Mar., 1928 Apr., 1928, from Apr., 1927 or decrease 1927 1928 cumulative 1928 from 1927 5, 333 1, 469 4,511 1,605 5,104 1,525 4,712 -15.4 1,716 ! +9.3 -4.3 -6.5 19, 991 6,433 19,314 5,779 -3.4 -10.2 170 547 4, 658 7,479 .570 2461 803 5,134 7,405 .572 128 550 4,887 6,587 .574 212 1,023 4,308 6,077 .553 602 723 3,815 6,824 .564 -72.2 -31.5 -4.8 -11.0 +.3 -78.7 -23.9 +28.1 -3.5 +1.8 17, 123 26, 522 20, 984 28, 163 +22.5 +6.2 4.88 .039 .053 .139 .403 .269 .193 4.87 .039 .053 .139 .403 .268 .192 4.88 .039 .053 .139 .403 .268 .193 4.88 .039 .053 .140 .403 .269 .193 4.85 .039 .045 .139 .400 .268 .192 4.86 .039 .050 .139 .400 .268 .192 0.0 0.0 0.0 +.7 0.0 +.4 0.0 +.4 0.0 +6.0 +.7 +.8 +.4 +.5 .462 .367 .469 .367 .469 .365 .472 .365 .477 .366 .491 .363 .484 .361 +1.1 -1.4 +1.4 ! .999 .972 .120 .122 .998 .971 .120 .122 .998 .971 .120 .122 1.000 .973 .120 .122 1.000 .972 .120 .120 .999 .960 .119 .120 1.001 .962 .118 .120 0.0 0.0 -1.6 " i +l'7 380, 426 346, 136 378, 331 2 375, 734 -9.0 104, 732 12, 292 18, 471 8,263 32, 945 113, 507 14, 067 16, 386 8,735 33, 860 2 107, 517 13, 454 17, 817 11,061 2 27, 762 88, 522 39, 414 90, 050 38, 995 331, 236 337, 949 2 351, 023 103, 383 13, 224 15, 511 8,727 29, 063 2 97, 158 2 105, 804 2 12, 126 13, 914 15, 855 2 19, 186 2 8, 846 8,088 2 23, 095 2 28, 806 2 2 76, 485 40, 553 76, 518 37, 027 93, 565 34, 229 10, 275 2 122, 507 2 207, 088 23, 127 43, 848 15, 907 72, 498 2 4 ! 4 4 410, 789 46,049 43,272 60, 632 68, 123 2 371, 484 2 420, 711 368,000 207, 621 2 184, 322 21, 300 15, 701 42, 648 37, 424 14, 530 2 13, 649 74, 392 68, 924 2 110, 707 73, 013 37, 396 15, 025 34, 779 12, 557 31, 479 11, 184 40, 229 14,884 61, 923 23, 212 10, 462 398, 344 72, 246 26, 108 8,814 401, 913 537, 850 172, 830 159, 771 247, 190 269, 770 195, 344 149, 043 251, 194 282, 103 408, 973 2 415, 377 -12.5 -11.4 | 1, 616, 190 1, 570, 984 -2.8 2 2 2 2 117, 574 112,058 356, 290 95, 292 91, 620 74, 398 18, 077 43, 291 63, 851 164, 636 13, 307 39, 483 55, 657 158, 884 14, 821 42, 820 63, 189 2 197, 603 13, 203 33,003 i 56, 307 179, 378 119 113 100 100 82 | 133 127 111 117 99 83, 263 132, 189 79, 506 84,428 85, 932 90, 387 120, 418 109, 147 78, 490 60, 455 4 2 Revised. O 153, 873 26, 282 4 4 336, 948 96, 356 26, 436 4 4 4 4 572, 839 51, 078 113, 604 * 33, 436 4 233, 071 4 101, 062 2 110, 551 65, 945 2 74, 459 4 4 276, 366 170, 647 4 4 2 39, 623 2 13, 306 4 114, 994 38, 464 4 74, 056 28, 623 7,999 398, 246 2 67, 030 20, 985 10, 572 405, 001 4 4 -13.1 211, 406 74, 294 25, 207 1, 579, 281 -12.0 ; 107, 411 2 85, 824 -18.8 -13.3 418, 556 373, 368 31, 514 19, 978 37, 188 2 39, 192 2 59, 411 57, 840 175, 829 2 189, 060 -10.9 -22.9 -10.9 -9.2 -58.1 -15.8 -5.2 I -5.1 94, 656 155, 918 231, 710 678, 342 59, 408 158, 597 239, 004 700,501 +2.4 +9.0 + 1.3 + 18.1 -8.2 +4.6 + 10.2 -7.4 +.4 -8.7 -17.5 +11.1 -3.1 -10.8 -37.2 +1.7 +3.1 +3.3 139 128 -18.0 -35.9 116 140 -15.4 -29.3 110, 581 107, 218 74, 298 78,404 -34.8 -44.6 +5.6 ! -22.9 338, 392 350, 691 364, 346 344, 417 +7.7 -1.8 38, 415 12, 577 65,643 2 55, 083 * 15, 082 20, 113 9,680 9,513 2 410, 054 362, 623 4 572, 221 42, 979 46, 133 64, 628 73, 272 187, 441 2 187, 598 17, 269 17, 069 36, 985 35, 999 10, 317 9,599 64, 671 72, 791 91, 088 60, 787 333, 731 94, 318 29, 030 +7.0 -7.7 ! -6.1 1 151,319 2 152, 906 194, 452 18, 693 35, 058 11,317 70, 527 87, 329 54, 190 136, 312 22, 622 4 244, 482 112, 801 -16.2 | 4 128,060 4 4 +0.9 -6.1 + 17.5 +3.0 +4.8 -13.8 +5.5 -6.7 -9.8 2 125, 134 2 31, 864 9,752 53, 452 2 41, 007 64, 964 2 75, 483 241, 989 108, 530 307, 694 38, 332 53, 512 25, 197 84, 846 4 4 4 4 -12.0 115, 659 33, 866 11, 787 2 47, 542 36, 040 2 64, 377 2 72, 195 4 43, 045 46, 876 64, 537 68, 370 120, 080 30, 759 7,896 301 724 221 302 304, 987 40, 834 45, 540 24, 459 80, 981 -.4 + 1.0 +3.9 +12.9 + 16.2 +1.0 +2.2 -8.9 -6.0 +13.0 -6.7 +1.6 +4.6 2 86, 436 2 36, 135 107, 507 2 109, 361 32, 001 2 33, 596 9,573 2 8, 967 133, 401 2 130, 869 2 145, 520 1, 415, 534 4 4 4 4 46, 894 9,388 90, 748 56, 708 23, 303 42, 057 59, 612 155, 798 1, 421, 783 47, 328 8,380 48, 2 28, 2 61, 2 66, 2 -7.9 I 59, 255 12, 563 2 407, 617 0.0 ! 47, 426 6,972 2 51, 504 28, 227 59, 037 69, 960 -.1 4 2 47, 192 2 6, 747 47, 529 6,413 2 79, 442 2 36, 360 2 +.3 4 4 4 1 586, 395 55, 694 115, 130 4 39, 496 4 213, 843 4 4 4 Cumulative through Mar. 31. 106, 487 38, 625 4 4 4 289, 124 187, 990 192, 972 61, 303 28, 007 1, 530, 880 4 4 OF !»%si««i^fw:fSi!M^ *ls|ffffipl||^ .^ 14 pages; 2 mustmtl&t^ ^r{ce, & * ,> »<° W»WUM3. ;X-fiC»>DC*; , ;..-;.:, ^ ^* J4 ^°« pages, 3W illustrations, ' •;, :!'^":^ '. 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''!'',"•' ^ ^ 4 ^ 4 * *** 1 « ^ « A * t^-^.* ^j^jf" ^i-5?^-%^:^ •^^^r'SS^ff^^^ ^^S3I^^Siiii^^iS^BI^SSI6 ^^'••''V^-^3';X>'>^.^'v;^^'^«^ ..,.,... ....,..„.,., . , _.,^. T ....^^. 1 .. ^•^•: ^!;^;;-'-->.^if-"iQ^^ : l^«^^|T.Vv«J^^^^^^^5-^^V\?^ ...^^^XHt^;^^|^^I^^..:^. ^f^^^^^^^^f>'^r/^/J:l^: '•$S$<^':^ ':WK ' ^^o;::^st^nii^^'i^^ ^WX;^$^ ' ' " \K%^^iitf^^||l^^w $j$jj$. :|g|ft||c^lTip|^%p^^|l^ f^*jj£$$i^^ r ./ vvj-~'>^vw*v.^-V*>f*'."-i' ***f^R-' -••?*^^^V^**'^T ^^'p:'i:J? ^'^ f" ; /^-bi^^n§''^p<l%'ffid 'l^ ^fi^^^-l^y ^^*:.^>?,?»v.«:.^ v* •..•^y« •^; ,^:.^ ';^ v.-.^w,; •: ;-|ffiia^^^ii|?^;%|n^p ;^^vFNM%^K-'^^ •,@l^^ '^ ^|8||fgf{^^ !IW!Sl€lliK^^ ^')^ : ^•S»-;^ r:&,-\;^t;;K>t^;;A ^&^^^V^;^.^^ Iffi^ffi^g^^ : '^^f^^;^.^^J^3K ! %'fe^life %?^^i'^^^W^ Sfl^Slf^CB-Jlill'i1^^ ?r''':^-;^^%:' •^v^'-l^:i: v^^ ; "• ^ V:5 ;'^%^'';&H| EM -^v:* iS'J ^vS ^ including broadcasting stations j" licensing r •' ^;v ^ ^-"d?'M'i5>M. ^-^vfer^Ag#t'i- ^ste ^.V- < A ?^?r ^^5Mto> J: