Full text of Survey of Current Business : March 1925
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MONTHLY SUPPLEMENT TO COMMERCE REPORTS
UNITED STATES
DEPARTMENT OF COMMERCE
WASHINGTON
SURVEY OF
CURRENT BUSINESS
MARCH,1925
No. 43
COMPILED BY
BUREAU OF THE CENSUS
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
BUREAU OF STANDARDS
IMPORTANT NOTICE
In addition to figures given from Government sources, there are also incorporated for completeness of
ser%ic$ figures from other sources generally accepted by the trades, the authority and responsibility
for ivhich are noted in the "Sources of Data" on pages 160^63 of the February, i§2$,, issue
Subscription price of the SURVEY OF CURRENT BUSINESS is $1.5$ a yearj single copies (monthly), 10 cents; quarterly
issues, 20 centk. Foreign subscriptions, $2.25; single copies (monthly issues), including postage, J4 cents; quarterly
issues, 31 cents. Subscription price of COMMERCE REPORTS is $4 a year; with the SURVEY, $>5.50 a year. Make
remittances only to Superintendent of Documents, Washington, D. C., by postal money order, express order, or
York draft. Currency at sender's risk. Postage stamps or foreign mon^ not accepted
• .,
WASHINGTON : GOVERNMENT PRINTING OFFICE I 1926
INTRODUCTION
numbers of less importance have been temporarily
omitted (see note at bottom of p. 1).
The relative numbers are computed by allowing the
monthly average for the base year or period to equal
100. If the movement for a current month is greater
than the base, the relative number will be greater than
100, and vice versa. The difference between 100 and
the relative number will give at once the per cent
increase or decrease compared with the base period.
Thus a relative number of 115 means an increase of 15
per cent over the base period, while a relative number
of 80 means a decrease of 20 per cent from the base.
i Relative numbers may also ibe used to calculate the
approximate percentage increase or decrease in a movement from one period to the next. Thus, if a relative
number at one month is 120 and for a later month it
is 144 there has been an increase of 20 per cent.
The SURVEY OF CURKENT BUSINESS is designed to
present each month a picture of the business situation
by setting forth the principal facts regarding the various lines of trade and industry. At semiannual intervals detailed tables are published giving, for each item,
monthly figures for the past two years and yearly comparisons, where available, back to 1913; also blank
lines sufficient for six months have been left at the
bottom of each table enabling those who care to do
so to enter new figures as soon as they appear (see
issue for February, 1925, No. 42). In the intervening
months the more important comparisons only are
given in the table entitled " Trend of business movements as in the present number."
ADVANCE SHEETS
Realizing that current statistics are highly perishable and that to be of use they must reach the business
man at the earliest possible moment, the department
has arranged to distribute advance leaflets almost
every week, whenever sufficient material is available,
to tnose subscribers who request them. The leaflets
are usually mailed on Thursdays, and give such information as has been received during the preceding
week. The information contained in these leaflets is
also reprinted in " Commerce Reports," issued weekly
by the Bureau of Foreign and Domestic Commerce,
The complete bulletin is distributed as quickly as it
can be completed and printed.
BASIC DATA
The figures reported in the accompanying tables are
very largely those already in existence. The chief
function of the department is to bring together these
data which, if available at all, are scattered in hundreds of different publications. A portion of these
data are collected by Government departments, other
figures are compiled by technical journals, and still
others are reported by trade associations.
j
INDEX NUMBERS
When two or more series of relative numbers are
combined by a system of weightings the resulting
series is denominated an index number. The index
number, by combining many relative numbers, is
designed to show the trend 01 an entire group of industries or for the country as a whole, instead of for
the single commodity or industry which the relative
t number covers. Comparisons with the base year or
I with other periods are made in the same manner as in
j the case 01 relative numbers.
RATIO CHARTS
In many instances the charts used in the SURVEY
OF CURRENT BUSINESS are of the type termed "Ratio
Charts" (logarithmic scale), notably the Business
Indicator charts on page 2. These charts show the
percentage increase and allow direct comparisons between the slope of one curve and that of any other
curve regardless of its location on the diagram; that
is, a 10 per cent increase in an item is given the same
vertical movement whether its curve is near the botRELATIVE NUMBERS
tom or near the top of the chart.
To facilitate comparison between different items and
The difference between this and the ordinary form
render the trend of a movement more apparent, rela- of a chart can be made clear by an example. If a
7
tive numbers (often called "index numbers/ a term certain item, having a relative number of 400 in one
referring more particularly to a special kind of number month, increases 10 per cent in the following month,
described below) have been calculated. The relative its relative number will be 440, and on an ordinary
numbers enable the reader tp see at a glance the chart would be plotted 40 equidistant scale points
general upward or downward tendency 01 a move- higher than the preceding month. Another movement which can not so easily be grasped from the ment with a relative number of, say, 50, also increases
actual figures.
10 per cent, making its relative number 55. On the
In computing these relative numbers the last pre- ordinary (arithmetic) scale this item would rise only 5
war year, 1913, or in somfe instances a five-year aver- equidistant points, whereas the previous item rose 40
age, 1909-1913, has been used as a base equal to 100 points, yet each showed the same percentage increase*
wherever possible. In many instances, comparable The ratio charts avoid this difficulty and give to each
figures for the pre-war years are not available, and in of the two movements exactly the same vertical rise
such cases the year 1919 has usually been taken as and hence the slopes of the two lines are directly
the base. For some industries 1919 can not be comparable, The ratio charts compare percentage
regarded as a proper base, due to extraordinary con- changes, while the arithmetic charts compare absolute
ditions in the industry, and some more representative changes.
period has been cjiosen. In many cases relative
This issue presents practically complete data for the month of January and also items covering February, 1925, received
up to March 14. As most data covering a particular month's business are not available until from /5 to 30 days after the
close of the month, a complete picture of that month's operations, including relative numbers, cumulative totals, text,
and charts, can not be presented in printed form under 45 days after its close, but the advance leaflets described above give
considerable information as early as 15 days after its closet and present almost every week the latest data available.
MONTHLY SUPPLEMENT
TO COMMERCE
REPORTS
UNITED STATES DEPARTMENT OF COMMERCE
WASHINGTON
SURVEY OF
CURRENT BUSINESS
COMPILED BY
BUREAU OF THE CENSUS
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
:
BUREAU OF STANDARDS
MARCH
NO. 43
1925
CONTENTS
TEXT MATERIAL
Preliminary summary for February
Course of business in January:
General business
Summary of indexes of business
Review, principal branches, industry and commerceChanges in the capacity of the structural steel industry
since 1913
Page
7
8
10
19
BASIC CHARTS
Business indicators
January wholesale prices compared with peak and prewar.
Trend of commodity stocks by major groups
Production, stocks, and unfilled orders
_
Comparison of wholesale price index numbers by groups.
Employment in manufacturing industries
Business failures, by classes of establishments
4
6
8
9
17
19
GENERAL TEXT TABLES
Business indicators
Wholesale price comparisons
Business summary
Indexes of business (production, prices, sales, etc.) _
February data
3
5
7
21
25
TREND OF BUSINESS MOVEMENTS
Textiles.
Metals..
FuelsAutomobiles and rubber
Hides and leather and paper and printing
Buttons, glass, and optical goods
Building construction
Chemicals and oils
Foodstuffs
Tobacco
Transportation
Public utilities, employment and distribution
Banking and finance
Foreign exchange rates
U. S. foreign trade and Canadian trade and industry.
Page
29
30
32
33
34
35
35
38
39
42
42
43
44
46
47
NEW MISCELLANEOUS TABLES
Agricultural export index numbers
Merchant pig-iron production
Manufacturers1 stocks of raw silk
Fabricated steel-plate bookings
Arsenic, production and stocks
Production of electric power and consumption of fuels by
street railways, manufacturing plants, and reclamation projects
Electric railway traffic and average fares
27
27
27
27
27
28
28
PRELIMINARY SUMMARY FOR FEBRUARY
Cotton and silk consumption during February were
at a -higher daily rate than in either the previous
month or a year ago. February production in the
iron and steel industries, after reduction to an average
daily basis, also increased over both comparative
periods. Unfilled steel orders on February 28, 1925,
represented an increase of 247,448 tons over the
previous month's figure and 371,870 tons over a year
ago. Shipments and unfilled orders of the principal
locomotive manufacturers showed declines for February from both the previous month and a year ago.
Car loadings were in greater volume than in either
January, 1925, or February, 1924. Mail-order sales
declined from the January figure, while sales of chain
10-cent stores increased, but both classes of stores
increased their sales 11 per cent over February, 1924.
Department store trade was in slightly less volume
34292—25f
1
than a year ago. Building construction contemplated
by February awards declined from both the previous
month and February, 1924.
Check payments, after adjustment for seasonal
variations, were larger than in either January, 1925,
or February, 1924. Discounted paper held by
Federal reserve banks at the end of February totaled
considerably more than at the end of January but
less than holdings a year ago, while reserves declined
from both comparative periods. Security prices and
commercial paper rates in the New York market
averaged slightly higher during February. Business
mortalities in February made a decline from the
previous month but were larger than a year ago.
Imports and exports of merchandise were in larger
volume than in either January, 1925, or February,
1924.
BUSINESS INDICATORS: 1920-1925
(Ratio charts—see explanation on inside front cover. Except for "net freight ton-miles" latest month plotted is January, 1925; December is latest plotted for "net freight
ton-miles" while the curve on bank debits has been adjusted for normal seasonal variations)
RELATIVE TO 1913 AS 100
300
200
RELATIVE TO 1919 AS 100
19201 19211 19221192311924,1925
192011921 ,1922,19231192411925
300
BANK-DEBITS.
PRICES 25 INDUSTRIAL STOCKS
200
INTEREST RATES, COMMERCIAL PAPER
WHOLESALE T
100
80
60
WHOLESALE PRICES (DEPT. OF LABOR)
DEPT. STORE TRADE C359 STORES)
MAIL-ORDER SALES
(4 HOUSES )
4k. I
FARM PRICES (DEPT. OF AGR CULTURE)
I
GENERAL MANUFACTURING
(64
COMMODITIES)
CD
ID
Z
PRODUCTION
Q
( 5 SPECIES)
Z
AUTOMOBILE PRODUCTION
(PASSENGER CARS AND TRUCKS)
FACTORY
EMPLOYMENT
BUILDING CONTRACTS
20L
1920
2Q
BUSINESS INDICATORS
The following table gives comparative relative numbers for a selected list of important business movements. It is believed
that this table will prove useful, because it separates out from the large mass of material a comparatively small number of items
which are often regarded as indicative of business in general.
The table has been divided into two parts, the first containing those items for which relative numbers can be calculated, using
1913 as a base. The second part contains items for which comparable data back to 1913 are not available. This latter group of
relative numbers is calculated by letting the 1919 monthly average equal 100. Care should therefore be exercised in comparing the
absolute value of the two sets of data. In either group, however, the upward or downward trend of the relative numbers, compared
to previous months, does reflect the present tendency in each item and will give a basis for business judgment.
Where available at the time of going to press, March 14, February indicators have been included, thus bringing this table
up to date. It should be noted that the charts on page 2 show January data as the latest plotted, except for freight ton-miles
which shows December.
1923
MONTHLY AVERAGE
1925
1924
COMMODITY
1920
mi
1922
1923
1924
Dec.
Jan.
Mar.
Feb.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan. Feb.
1913 monthly aver age =100
Production:
Pig iron.
120
Steel ingots
135
Copper
99
Cement (shipments). 108
Anthracite coal
98
Bituminous coal
119
Electric energy
(gross revenue sales) . 283
Crude petroleum
178
C otton (consumption)
105
Beef
119
Pork
113
Unfilled orders:
U. 8. Steel Corp
170
Stocks:
Crude petroleum
127
Cotton (total)
155
l
Prices:
Wholesale index
226
Retail food
203
Retail coal, bitum
207
Farm products
205
Business finances:
Defaulted liabilities.. 108
:84
Price 25 ind. stocks
Price 25 R. R. stocks.
67
Banking:
Clearings, N.Y. City. 257
Clearings, outside
275
Com'l paper int. rate. 134
Distribution:
Imports (value)
294
Exports (value)
331
Sales, mail-order
264
Transportation:
Freight, net ton-miles. 137
54
64
38
107
99
87
87
114
80
131
58
85
130
144
120
153
104
118
101
121
128
164
99
101
114
113
126
87
105
103
118
144
129
70
104
132
120
151
128
80
100
119
135
166
127
122
106
103
126
132
128
173
89
76
102
104
127
197
102
81
79
81
124
203
101
79
70
74
126
225
102
84
74
101
130
228
93
90
80
112
124
228
100
106
97
123
134
231
101
121
98
123
133
139
89
106
116
141
131
74
97
116
132
166
144
69
97
130
126
148
135
81
94
98
312
189
97
113
117
349
224
109
126
130
407
295
117
130
160
285
99
133
151
466
284
99
123
205
488
273
124
137
205
472
268
109
114
177
448
288
104
115
160
429
287
103
121
145
417
298
89
135
151
399
286
75
116
154
382
295
75
132
153
386
298
77
135
115
397
288
94
146
103
426
289
114
167
118
462
272
106
149
352
273
114
134
191
286
127
118
90
96
102
68
75
81
83
81
71
61
55
54
56
59
60
68
82
85
89
152
198
234
153
287
125
338
112
322
167
321
149
323
132
327
113
331
92
334
74
339
59
343
45
349
44
350
84
348
161
346
193
338
193
337
172
150
147
153
197
116
149
142
188
124
154
146
190
134
150
146
169
132
151
150
183
135
151
149
180
134
152
147
180
134
150
144
175
128
148
141
168
128
147
141
163
127
145
142
163
128
147
143
165
130
150
144
159
137
149
147
164
129
152
149
169
136
153
150
171
137
157
152
171
139
160
154
170
146
161
151
172
146
229
136
64
228
169
75
197
185
72
198
198
81
226
187
70
225
193
73
158
192
73
428
189
74
214
183
75
160
183
75
149
187
78
161
195
82
242
205
86
150
201
85
158
202
84
136
213
92
198
231
95
238
233
96
176
205
212
118
230
230
80
226
276
90
264
284
71
247
301
90
262
292
88
230
256
87
249
280
83
258
278
84
263
275
77
253
266
71
268
282
64
258
265
59
245
277
57
274
314
57
284
290
59
325
317
64
339
322
66
267
273
66
140
181
188
177
154
204
212
168
259
201
185
284
193
206
318
198
191
271
223
177
270
215
164
279
217
168
300
203
161
243
183
148
239
185
134
196
170
160
211
192
207
279
208
255
364
198
238
351
224
214
411
232
216
308
224
180
299
105
115
139
131
122
126
132
133
117
124
117
121
133
143
158
139
128
1
98
1919 monthly average =100
Production:
Lumber1
Bldg. contracts
Stocks:
Beef.
Pork
Business finances:
Bond prices (40 issues).
Banking:
Debits outside N. Y.
City
Federal ReserveBills discounted....
Total reserves
Ratio.
1
Wholesale and
1
101
72
85
69
116
102
131
106
128
108
109
102
111
107
124
103
129
147
137
136
140
124
129
103
118
88
137
90
134
93
139
102
125
105
109
100
121
91
83
66
98
42
83
29
70
32
91
34
90
45
82
43
93
42
103
39
110
33
109
28
111
25
111
21
104
21
91
20
70
28
48
42
50
60
76
59
97
55
111
86
87
107
104
108
103
105
104
105
105
106
108
110
110
109
110
110
110
110
111
114
91
95
107
108
116
111
100
109
108
106
104
106
101
104
119
107
124
127
106
132
97
87
91
122
122
28
144
154
39
146
152
19
146
160
44
143
146
27
149
162
27
147
161
25
147
161
23
147
163
22
147
165
18
149
165
15
149
165
14
146
164
13
144
160
12
143
157
11
143
154
16
139
145
14
141
155
22
138
151
retail prices from Department of Labor averaged for the month; farm prices from Department of Agriculture.
Based on the total computed production reported by 5 associations. Includes southern pine, Douglas fir, western pine, North Carolina pine, and California white
pine. The total production of these associations in 1919 was equal to 11,518,000,000 board feet, compared with a total lumber production for the country of 34,552,000,000
board feet reported by the census.
COMPARISON OF JANUARY WHOLESALE PRICES WITH PEAK AND PRE-WAR
(1913 average prices taken as 100)
INDEX NUMBERS
100
200
300
400
500
FARM PRODUCTS AVERAGE PRICE TO PRODUCER
WHEAT
CORN
POTATOES
COTTON
COTTON SEED
CATTLE. BEEF
HOGS
LAMBS
WHEAT. SPRING
WHEAT. WINTER
CORN. NO.2
OATS
BARLEY
RYE. NO.2
TOBACCO. BURLEY
COTTON
WOOL !4 GREASE (BOSTON)
CATTLE. STEERS
HOGS. HEAVY
SHEEP. EWES
SHEEP. LAMBS
FLOUR. SPRING
FLOUR. WINTER
SUGAR. RAW
SUGAR. GRANULATED
COTTONSEED OIL
BEEF. CARCASS
BEEF.STEER ROUNDS
HAMS. SMOKED (CHICAGO)
COTTON YARN
COTTON. PRINT CLOTH
COTTON.SHEETING
WORSTED YARN
WOMEN'S DRESS GOODS
SUITINGS
SILK. RAW
HIDES. PACKER'S
HIDES. CALFSKINS
LEATHER. CHROME (BOSTON)
LEATHER. SOLE. OAK
BOOTS AND SHOES (BOSTON)
BOOTS AND SHOES (ST. LOUIS)
COAL. BITUMINOUS
COAL. ANTHRACITE
COKE
PETROLEUM
PIG IRON. FOUNDRY
PIG IRON, BASIC
STEEL BILLETS. BESSEMER
COPPER
LEAD
TIN
ZINC
LUMBER. PINE. SOUTHERN
LUMBER. DOUGLAS FIR
BRICK. COMMON (NEW YORK)
CEMENT
STEEL
BEAMS
RUBBER. CRUDE
SULPHUR
ACID
600
700
WHOLESALE PRICE COMPARISONS—MAXIMUM PRICE COMPARED TO PRICE IN RECENT MONTHS
NOTE.—Prices to producer on farm products and market price of wool are from U. 8. Department of Agriculture, Bureau of Agricultural Economics; nonferrous metals
from the Engineering and Mining Journal-Press. All other prices are from U. S. Department of Labor, Bureau of Labor Statistics. As far as possible all quotations represent prices to producer or at mill. See diagram on page 4.
Because of their availability at the time of going to press, March 14, the February price data have here been included, thus bringing this table up
to date. It should be noted that the chart on page 4 shows January prices only.
ACTUAL PRICE
Unit
COMMODITIES
PER CENT
INCREASE (-f )
OR DECREASE (— )
RELATIVE PRICE
(1913 average =100)
(dollars)
January,
1924
February,
1924
Janu-
February,
1925
February, February,
1925,
1925,
from
from
February,
January,
1924
1925
January,
1925
February,
1925
Bushel
Bushel
Bushel
Pound
Ton
Pound
Pound
Pound
1.621
1.120
.702
.227
37.50
.0563
.0931
.1269
1.698
1.145
.723
.230
37.14
.0569
.0963
' .1313
122
119
145
271
204
91
88
167
124
124
148
262
199
93
87
173
205
181
118
189
172
95
124
208
214
185
121
192
170
96
128
215
+4.8
+2.2
+3.0
+1.3
-1.0
+1.1
+3.4
+0.5
+72.6
+49.2
-18.2
-26.7
-14.6
+3.2
+47.1
+24.3
Bushel
Bushel
Bushel
Bushel
Bushel
Bushel
Cwt
Pound
Pound
Cwt
Cwt . .
Cwt
1.909
2. 0,06
1.271
.596
.973
1.585
24.50
.240
.69
9.313
10. 800
8.688
17. 625
1.841
1.984
1.242
.570
.996
1.579
24.50
.247
.68
9.469
11. 150
8.438
17. 313
124
112
121
126
•113
114
212
271
208
111
86
153
171
129
114
128
131
118
113
212
249
216
114
85
180
187
209
203
203
159
156
249
186
188
276
110
129
185
226
202
201
199
152
159
248
186
193
272
111
133
180
222
—3. 6
-1.1
-2.3
-4.4
+2.4
-0.4
0.0
+2.9
-1.4
+1.7
+3.2
-2.9
-1.8
+56.6
+76.3
+55.5
+16.0
+34.7
+119.5
-12.3
-22.5
-1.4
-2.6
+56.5
0.0
+18.7
Barrel
Barrel
Pound
Pound
Pound
Pound
Pound
Pound
9.694
8.805
.046
.061
.112
.183
.133
.219
9.850
8.669
.046
.058
.107
.183
.135
.231
135
137
192
196
152
131
106
116
138
139
207
204
139
131
111
111
212
220
131
142
154
141
102
132
215
225
132
137
148
141
103
139
+1.6
-1.5
0.0
-4.9
-4.5
0.0
+1.5
+5.5
+55.8
+61.9
-36.2
-32.8
+6.5
+7.6
-7.2
+25.2
Pound
Yard
Yard
Pound
Yard
Yard
Pound
Pound
Pound
Square foot
Pound
Pair
Pair
.437
.069
.108
1.900
1.035
3.780
6.076
.161
.215
.500
.500
6.35
5.00
.430
.068
.107
1.900
1.035
3.780
6.223
.163
.215
.500
.520
6.35
5.07
223
223
210
219
184
239
202
78
83
163
98
201
153
211
205
204
219
184
239
189
86
96
163
98
201
153
177
199
176
245
184
245
167
89
114
186
111
204
158
174
197
174
245
184
245
171
89
114
186
116
204
160
-1.6
-1.4
-0.9
0.0
0.0
0.0
+2.4
+1.3
0.0
0.0
+4.0
0.0
+1.4
-17.5
-3.9
-14.7
+11.9
0.0
+2.5
-9.5
+3.5
+18.8
+14.1
+18.4
+1.5
+4.6
3.39
11.75
4.64
1.293
3.39
11.75
4.08
1.738
166
216
165
133
166
216
172
162
154
221
190
138
154
221
167
186
0.0
0.0
-12. 1
+34.4
-7.2
+2.3
-2.9
+14.8
1925
FARM PRODUCTS-AVERAGE PRICE TO PRODUCERS
Wheat
Corn
Potatoes
Cotton
Cottonseed
Cattle, beef
Hogs
Lambs
_
...
.
..
.
.
..
-__
- - - -
FARM PRODUCTS-MARKET PRICE
Wheat, No 1, northern, spring (Chicago)
-
Corn contract grades, No. 2 cash (Chicago)
Barley fair to good malting (Chicago)
Rye, No 2, cash (Chicago)
--
Cotton middling upland (New York)
Wool, J^ blood combing, Ohio and Pennsylvania fleeces (Boston)
Cattle 'steers good to choice corn fed (Chicago)
Hogs, heavy (Chicago)
- - - Sheep, ewes (Chicago)
Sheep lambs (Chicago)
Cwt
FOOD
Flour standard patents (Minneapolis)
Sugar, 96° centrifugal (New York) .
.
Sugar granulated, in barrels (New York)
Beef fresh carcass good native steers (Chicago)
Beef fresh steer rounds No 2 (Chicago)
Pork, smoked hams (Chicago) - ..
. .
-
-
CLOTHING
Cotton yarns, carded, white, northern, mulespun, 22-1 cones (Boston) ..
Cotton, print cloth, 27 inches, 64 x 60-7.60 yards to pound (Boston)
Cotton, sheeting, brown 4/4 Ware Shoals L. L. (New York)
Worsted yarns 2/32's crossbred stock, white, in skein (Boston)
Women's dress goods, storm serge, all-wool, dbl. warp, 50 in. (N. Y.)__
Suitings, wool, dyed blue, 56-56 inches, 16-ounce Middlesex (N. Y.)._.
Silk, raw Japanese, Kansas No. 1 (New York)
_
Hides green salted packer's heavy native steers (Chicago)
Hides, calfskins, No. 1, country, 8 to 15 pounds (Chicago)
Leather chrome calf, dull or bright "B" grades (Boston)
Leather sole, oak, scoured backs, heavy (Boston)
_.
Boots and shoes, men's black calf, blucher (Massachusetts)
Boots and shoes, men's dress welt tan calf (St. Louis)
FUEL
Short ton__
Coal bituminous, mine run lump, Kanawha (Cincinnati)
Long ton...
Coal anthracite, chestnut (New "York tidewater)
Coke, Connellsville (range of prompt and future) furnace— at ovens... Short ton _ _
Petroleum, crude, Kansas-Oklahoma—at wells
Barrel
"•x.
METALS
Pig iron, foundry No 2, northern (Pittsburgh)
Pig iron, basic, valley furnace
Steel, billets Bessemer (Pittsburgh)
Copper ingots, electrolytic, early delivery (New York)
Lead pig delivered for early delivery (New York)
Tin, pig, for early delivery (New York)
Zinc slab western (St. Louis)
.
-
Long ton...
Long ton...
Long ton...
Pound
Pound
Pound
Pound
24.14
21.88
37.00
.148
.104
.582
.081
23.76
22.00
37.00
.145
.095
.570
.078
151
144
155
80
188
108
116
155
150
155
81
203
118
123
151
149
144
94
236
130
140
148
150
144
92
216
127
135
-1.6
+0.5
0.0
-2.0
87
-2.1
-3.7
-4.5
0.0
-7.1
+13.6
+6.4
+7.6
+9.8
Mfeet
Mfeet
Thousand. .
46.95
19.50
14.50
47.32
18.50
14.50
192
212
305
193
212
305
204
212
221
205
201
221
+0.8
-5.1
0.0
+6.2
-5.2
27 5
170
166
25
75
173
166
24
73
172
139
39
70
173
136
38
70
+0.6
-2.4
-3.5
0.0
0.0
-18.1
BUILDING MATERIAL AND MISCELLANEOUS
Lumber, pine, southern, yellow flooring, 1 x 4, "B" and better (Hattiesburg district)
- Lumber, Douglas fir, No. 1, common, s 1 s, 1 x 8 x 10 (Washington)
Brick common red, domestic building (New York)
....
Cement, Portland, net without bags to trade, f. o. b., plant (Chicago
district)
Steel beams, mill (Pittsburgh)
Rubber, Para Island, fine (New York)
Sulphuric acid, 66° (New York)
Barrel
Cwt .
Pound
Cwt
1.74
2.10
.318
.70
1.75
2.05
.307
.70
•tSJ
TREND OF COMMODITY STOCKS BY MAJOR GROUPS
(Solid lines represent the indexes after due allowance for seasonal variations, while the broken lines represent these same indexes with no adjustment for seasonal
influences. Indexes are relative to 1919 as 100)
TOTAL
RAW
INDEX
MATERIALS FOR
MANUFACTURED
MANUFACTURED
MANUFACTURE
FOODSTUFFS
COMMODITIES
BUSINESS SUMMARY
\ Index and relatiye'numbers based on the'1919 monthly average as 100—except unfilled orders which are based on the 1920 averages-enable comparisons to be made of the
relative condition of the several phases of business. *frhe use of index and relative numbers is more fully explained on the inside front cover, and details of this summary are given in the table entitled "Indexes of Business," beginning on p. 21. Numerical data on electric power, building construction, factory employment, and
the transportation situationjmay be found in the^detailed tables beginning on p. 27]
YEARLY
AVEEAGE
1923
1925
1924
PER CENT INCREASE (+)
OR DECREASE (— )
January
January,
1925, from
December,
1924
January,
1925, from
January,
1924
112
142
123
138
158
98
116
120
132
114
119
114
+3.6
-15.5
+7.3
-17.4
-24.7
+ 16.3
+ 1.8
+ 11.1
+ 3.1
156
105
171
100
172
91
+0.6
-9.0
+ 12.4
-15.0
142
137
43
146
135
53
156
145
62
164
156
62
+ 5.1
+7.6
0.0
+24.2
+ 14.7
-1.6
98
126
80
109
141
203
95
141
131
199
84
141
148
366
79
210
108
151
78
109
-27.0
-58.7
-1.3
-48. 1
+ 10.2
+ 19.8
-2.5
0.0
73
81
73
81
74
80
74
81
76
82
78
83
+ 2.6
+ 1.2
+6.8
+2.5
109
97
84
101
96
90
106
96
88
109
96
81
110
96
81
116
97
82
128
97
83
+ 10.3
0.0
+ 1.2
+20.8
+ 1.0
-5.7
108
116
139
101
119
189
104
96
100
131
126
59
115
117
111
106
125
161
102
129
-18.4
-19.9
+6.3
+29.0
December
January
October Novem- December
ber
1923
1924
PRODUCTION:
Manufacturing (64 commodities— Adjusted)1
Raw materials, total
Minerals
Animal products. Crops
Forest products
119
113
135
117
102
121
113
119
124
117
118
115
109
129
125
129
133
104
114
108
128
119
93
109
116
179
138
112
246
122
114
155
119
125
195
112
ELECTRIC POWER PRODUCTIONBUILDING AWARDS (floor space)
144
106
152
108
153
102
160
107
160
102
STOCKS OP COMMODITIES (45 commodities);
Unadjusted index
Corrected for seasonal variation
UNFILLED ORDERS (relative to 1920) _
119
119
74
135
135
52
135
125
58
132
136
63
SALES (based on value) :
Mail-order houses (4 houses). _
Ten-cent chains (5 chains)
Wholesale trade
Department stores (359 stores)
99
165
83
124
105
185
82
125
118
331
72
202
PRICES (recomputed to 1919 base) :
Wholesale, all commodities
Retail food
75
78
73
78
CHECK PAYMENTS (141 cities— Seasonal adjustment)
COST OF LIVING (1919 base)
FACTORY EMPLOYMENT (1919 base)
103
96
93
TRANSPORTATION :
Net freight ton-mile operation
Car loadings (monthly total) __ .
Net available car surplus (end of mo.) —
115
119
25
-4.2
+ 28.0
+ 4.6
i See page 28, January, 1925, issue (No. 41) for details of adjustment. Unadjusted index for current months given in "Indexes of Business," p. 21, this issue.
COURSE OF BUSINESS IN JANUARY
GENERAL BUSINESS
General industrial activity as measured by the
index of manufacturing output was greater in January
than in either the preceding month or January, 1924.
Such basic industries as pig iron, steel ingots, coke*
lumber, cotton and silk textile manufacturing, zinc
and copper refining, wheat flour, and sugar refining
participated in the general increase over these two
comparative periods. Increases over December alone
were noted in the production of boots and shoes, sole
leather, newsprint paper, meats, sanitary enamel
ware, and in the consumption of wool, with increases
noted over January, 1924, alone, in the output of
brick and lead. Declines from both December and
a year ago occurred in cement and locomotives.
Building contracts awarded in January, measured
both in value and floor space, were smaller than in
either the previous month or January, 1924. Factory
employment increased in January over December
but was 6 per cent smaller than in January, 1924.
Car loadings declined seasonally but were larger than
in January of last year.
Wholesale trade was smaller in January than a
year ago, while retail trade as seen from reports of
mail-order houses and 10-cent chains was larger.
Department store trade, on the other hand, showed
no change from a year ago in the value of January
sales, while check transactions were larger than in
either December or a year ago.
Prices to producers, at wholesale, and at retail, were
all higher than in either December or a year ago,
while January business failures were more numerous
than in either the previous month or a year ago, involving also larger liabilities than in either period.
SUMMARY OF INDEXES OF BUSINESS
PRODUCTION
The production of manufactured commodities in
January, as seen from the index of 64 commodities
based upon the 1919 monthly average as 100, stood
at 116, when account is taken of the varying number
of working days, as against 112 in December and 114
a year ago. The unadjusted manufacturing index
stood at 121 as against 112 in December and 119 a
year ago. The principal groups which participated
in the general increase over December and a }rear ago
included foodstuffs, iron, steel, nonferrous metals,
lumber, and miscellaneous commodities. Textiles,
leather and leather goods, paper and printing, tobacco
and tobacco products, and automobiles also registered
increases over the previous month, but, with the
exception of textiles and tobacco, which remained
unchanged, these groups were well below a year ago.
The output of raw materials as measured by the
weighted index relative to 1919 as 100, stood at 120,
as compared with 142 for December and 108 a year
ago. Mineral production relative to the same year
as 100 was computed at 132 for January, as against
123 for December and 128 a year ago, while the
marketings of animal products stood at 114 in January,
as contrasted with 138 in December and 119 in January
of last year. Marketings of crops declined seasonally
in January, the index for that month standing at 119
relative to 1919 as 100, as compared with 158 in
December and 93 a year ago, while the output of
forest products increased in a seasonal movement,
being computed at 114 for January, as against 98 in
December and 109 in January, 1924.
RELATIVE PRODUCTION, STOCKS, AND UNFILLED ORDERS FOR MANUFACTURED COMMODITIES
(1920 monthly average=100. It is to be noted that this chart shows stocks of manufactured commodities only. Adjustment has been made for both stocks and production for their respective seasonal movements. Unfilled orders are principally those for iron, steel, and building materials)
150
COMMODITY
STOCKS
The index of commodity stocks as adjusted for
seasonal tendencies stood at 156 at the end of January,
relative to the average monthly stocks for the year
1919 as 100, as contrasted with 145 at the end of the
previous month and 136 a year ago. Allowing for
seasonal conditions, all groups entering into this
index registered increases over these two periods,
with the exception of manufactured foodstuffs, which
increased over the inventories of a year ago only.
SALES
Unfilled orders, as seen from the weighted index of
eight basic commodities covering principally iron,
steel, and building materials, stood at 62 at the end of
January, relative to 1920 as 100, as contrasted with
62 at the end of December and 63 a year ago. The
group total for the iron and steel industry stood at 50
for January as against 49 for December and 47 a year
ago, while for building materials the January index
was 115 as against 114 in December and 130 for
January of last year. The increases over the previous
month in both these groups, however, were fractional
and were, therefore, not visible in the total index of
unfilled orders.
Wholesale trade in January, as seen from the
weighted index covering six important lines, was
smaller than in either the previous month of a year
ago, the index relative to 1919 as 100 standing at 78
as compared with 79 in December and 80 a year ago.
The larger sales in January of drugs, dry goods, and
meats were insufficient to offset in the general index
the smaller sales of shoes, hardware, and groceries.
Sales of mail-order houses declined seasonally from
the December figures but were well above those of a
year ago, the index for four houses relative to 1919 as
100 standing at 108, as compared with 148 in December
and 98 a year ago. Chain-store sales made the usual
seasonal decline after the December holiday period,
the index for five chains standing at 151 as contrasted
with 366 in December and 126 a year ago. Sales by
other chains comprising groceries, drugs, cigars, candy,
and shoes also recorded smaller volume than in the pre-
COMPARISON OF WHOLESALE PRICE INDEX NUMBERS, BY GROUPS
(January, 1925, is latest month shown)
ceding month but were above the values of January,
1924. Department-store trade, relative to 1919 as
100, stood at 109 for January as compared with 210
in December and 109 a year ago, while the value of
stocks of merchandise held at representative department stores relative to the same base stood at 119 at
the end of January, as against 124 at the end of the
previous month and 115 on January 31, 1924.
PRICES
Prices received by producers of agricultural commodities were computed at 146 for January as com34292—25f
2
pared with 139 for December and 134 a year ago,
using the five-year average, 1909 to 1914, as 100.
All groups participated in this general increase over
the previous month except dairy and poultry products
and unclassified commodities, while as compared with
a year ago all commodities were higher in price except
cotton and cottonseed and unclassified commodities.
Wholesale prices, as seen from the Department of
Labor index, covering 404 commodities, relative to
1913 as 100, stood at 160 for January, as compared
with 157 for December and 151 a year ago. All com-
10
BUSINESS INDICATORS: COMPARISON OF JANUARY, 1925, WITH
JANUARY, 1924
RELATIVE
1
PRODUCTION
100
NUMBERS : 1913 = 100
150
200
250
300
PIG IRON
STEEL-INGOTS
LOCOMOTIVES
ZINC
COPPER
ANTHRACITE COAL
BITUMINOUS COAL
.CRUDE PETROLEUM
COTTON (CONSUMPTION)
STEEL CORP. ( UNFILLED ORDERS)
PRICES
WHOLESALE INDEX.
ALL COMMODITIES ( DEPT. LABOR)
RETAIL FOOD I OEPT. LABOR)
FARM PRODUCTS (OEPH AGRICULTURE)
COST OF LIVING
BANKING AND FINANCE
PRICE 26
INDUSTRIAL STOCKS
PRICE 26 RAILROAD STOCKS
INTEREST RATES < COMMERCIAL)
DISTRIBUTION
IMPORTS (VALUE >
EXPORTS
SALES,
(VALUE)
MAIL-ORDER HOUSES
SALES. TEN -.CENT
FREIGHT
STORES
NET TON-MILES
I JANUARY 1926
W///////A
JANUARY 1924
* DECEMBER
modity groups entering into this general index recorded increases over the previous month except
clothes and clothing and chemicals, which showed
no change from the previous month and miscellaneous goods, which declined about 2 per cent. As compared with a year ago, clothes and clothing, fuel and
lighting, metals and metal products, building materials
and housefurnishing goods were all lower in January,
the declines in these groups, however, being insufficient to offset in the general index the increases in
farm products, foods, chemicals, and miscellaneous
commodities. As regrouped by the Federal Keserve
Board, all groups registered increases over the previous month. The commercial index numbers, as of
the 1st of February, were also about 6 per cent higher
than a year ago.
Ketail food prices relative to 1913 as 100 stood at
154 for January as against 152 for December and 149
a year ago, while the cost of living index, relative to
July, 1914, as 100, was computed at 167 for January,
in contrast with 166 for December and 165 a year ago.
The increase in the general index was attributable
solely to higher costs of food and clothing, other
groups entering into this index showing no change
from the previous month. As compared with a year
ago, food costs, shelter costs, and expenditures for
sundries were higher, accounting for the increase in
the general index over the same period, while clothing
costs and expenditures for fuel and light were smaller
than in January, 1924.
REVIEW BY PRINCIPAL BRANCHES OF INDUSTRY AND COMMERCE
TEXTILES
Wool receipts at Boston were larger in January
than in either the previous month or a year ago.
The increase over these periods was due to the large
receipts of foreign wool, which, representing more than
nine-tenths of the total receipts for January, were
177 per cent greater than in December and almost
twice those of January, 1924. Domestic wool receipts
were only one-fifth as large as in December, and less
than one-third of those a year ago. Imports of raw
wool for January were 50 per cent greater than in
either December or January, 1924.
The consumption of wool by textile mills was practically the same as in December but was about 5 per
cent less than a year ago. The activity of woolen
machinery, on the other hand, was slightly lower than
during the previous month and somewhat greater
than a year ago. Prices of raw wool and of yarns
declined slightly from the December averages, while
dress goods remained unchanged and men's suitings
advanced.
Cotton receipts into sight showed the usual seasonal
decline from December but were more than 50 per
cent greater than a year ago. Imports of raw cotton
CONSUMPTION AND EXPORTS OF RAW COTTON
(January, 1925, is latest month shown)
showed the customary seasonal increase as compared
with the previous month, and were likewise 15 per
cent larger than a year ago. Exports of raw cotton
were slightly larger than December, but almost twice
those of January, 1924. Stocks of cotton at mills
and warehouses declined seasonally as compared with
the previous month but were 15 per cent larger than
in January, 1924. The world visible supply was 30
per cent greater than a year ago.
11
Cotton consumption by textile mills in January was
Production of steel sheets by independent manufac589,725 bales, an increase of more than 10 per cent turers utilized 98 per cent of shop capacity in January,
over December and about 2 per cent over a year ago
as compared with 82 per cent in December and 87
A slightly larger number of spindles were active during per cent a year ago. Shipments were also considerJanuary as compared with December, 96 per cent of ably larger than for the previous month or a year ago.
the capacity being utilized as against 90 per cent Bookings and unfilled orders were much larger than
during the previous month and 96 per cent a year ago. in January, 1924, but declined from December.
Cotton finishing plants operated at 62 per cent of Stocks were larger at the end of January than at the
capacity in January, as compared with 67 per cent end of either December or January a year ago. Wholein December and 74 per cent in January, 1924. The sale steel prices were uniformly higher than in the
January shipments from finishing plants were slightly previous month, but lower than a year ago.
larger than in December, but orders, billings, and COMPARISON OF NEW CONSTRUCTION CONTRACTS FOR BUILDstocks on hand declined as compared with the previous
INGS OTHER THAN RESIDENTIAL AND NEW BOOKINGS FOR
FABRICATED STRUCTURAL STEEL
month and with January, 1924. Exports of cotton
(January, 1925, is latest month shown)
cloth were considerably greater than during either the
previous month or a year ago.
The price of raw cotton on the New York market
showed a slight advance over December, while the
price of raw cotton to the producer and that of cotton
yarn declined. Prices of raw cotton averaged 30 per
cent and cotton yarn 20 per cent less, respectively,
than a year ago.
Silk imports were a million pounds less than in the
previous month, but correspondingly greater than a
year ago. Warehouse deliveries of silk were considerably greater than in either December or January, 1924,
and while stocks were slightly less than on December
31, they were over 30 per cent greater than a year ago.
Iron and steel exports in January exceeded those of
The price of raw silk averaged lower than in either December, but were little more than half as great^as
December or January, 1924.
in January, 1924. Imports were also slightly larger
Burlap and unmanufactured fibers were each im- than in the previous month, but were almost three
ported in larger quantities during January than during times as large as in January, 1924. Vessels completed
either the previous month or the corresponding month in January showed slightly lower tonnage than those
of 1924.
completed in December, but a 40 per cent greater
IRON AND STEEL
tonnage than a year earlier.
Iron-ore consumption and pig-iron production inNEW BOOKINGS FOR FABRICATED STEEL PLATE
creased in January over both December and a year
(January, 1925, is latest month shown)
ago. Stocks of ore at furnaces and on Lake Erie
docks showed a corresponding seasonal decrease from
the previous month, and were also smaller than a year
ago. The number of furnaces in blast was 10 per cent
greater and the capacity of such furnaces 19 per cent
greater than at the end of December, and also exceeded the number and capacity of furnaces in blast
in January, 1924. Pig-iron prices were higher than
in the previous month, and equaled or exceeded those
of a year ago.
Steel-ingot production increased substantially over
December and was 15 per cent larger than in January,
1924. Bookings of steel castings were smaller for
January, than for the month previous, due to the decline in railway specialties, but were much larger than
a year ago. Unfilled orders of the United States Steel
Corporation were somewhat larger at the end of
Fabricated structural steel bookings represented 57
January than for either December or a year ago. per cent of the plant capacity in January, as against
Steel barrel production was slightly smaller than in 80 per cent in December and 70 per cent a year
December, being 39 per cent of capacity as compared earlier. Shipments were also less than in the previous
with 34 per cent a year ago.
month, comprising 60 per cent of the capacity of the
CONTRACTS AWARDED FOR BUSINESS. INDUSTRIAL,
PUBLIC, AND SEMIPUBLIC CONSTRUCTION
STACKS, LADLES AND/
MISCELLANEOUS
12
industry, as compared with 63 per cent each in December and in January, 1924. On page 20 is given
a special study showing by capacity groups the changes
in capacity which have taken place in the fabricated
structural steel industry during the period 1913 to
1924, inclusive. Steel furniture shipments were slightly
larger in January than in either the previous month
or a year ago. Bookings of fabricated steel plate
were much smaller in January than in December but
were slightly larger than in January. 1924. The
chart given below shows since the beginning of 1923
the course of new bookings of fabricated steel plate
by the principal groups.
Locomotive shipments and unfilled orders were both
less than for December; shipments were likewise less
than a year ago, though the unfilled orders as of January 31 exceeded those reported on January 31, 1924.
MACHINERY
New orders for machine tools increased 16 per cent
over December but were 25 per cent below a year ago.
Sales, shipments, and unfilled orders of foundry equipment were smaller than in either December or a year
ago, while stoker sales measured in horsepower were
12 per cent less than in the previous month and 58
per cent smaller than in January, 1924. The following table shows the number of electric fans sold during the period October 1, 1923, to September 30,
1924, and stocks of fans held at the end of September,
1$24, as reported by nine companies, representing
about 85 per cent of the total output of electric fans.
The world visible supply of tin was 6 per cent
smaller at the end of January than a year ago, while
the stocks of tin in New York were 56 per cent larger
than the holdings on January 31, 1924. Deliveries of
tin at consuming establishments were 77 per cent
larger than in December and 46 per cent above a
year ago. The following chart drawn on a logarithmic scale shows since 1920 the monthly movements of
the more important tin figures.
TIN: VISIBLE SUPPLY, IMPORTS, AND DELIVERIES TO DOMESTIC
CONSUMERS
(January, 1925, is latest month shown)
40,000
STOCKS, END OF PERIOD
FAN YEAR
Total
(January, 1925, is latest month shown)
20,000
SALES AND STOCKS OF ELECTRIC FANS
SALES I
COPPER PRODUCTION AND EXPORTS
Domestic Export
Total
Manu- Domestic disfacturers tributers
10,000
O 6,000
Oct. 1, 1923, to Sept.
30, 1924
Oct. 1, 1922, to Sept.
30, 1923
705, 315
639, 617
65, 698
479, 913
318, 727
161, 186
700, 041
657, 570
42, 699
250, 320
172, 034
78, 286
4,000
i Sales data for fan years prior to those shown here may be found on page 12 of the
May, 1924, issue of the SURVEY (No. 33).
2,000
NONFERROUS METALS
The]output of copper by domestic mines, amounting
to 72,272 tons, registered an increase of 6 per cent
from the previous month and 9 per cent over January
a year ago. Copper exports were 3 per cent larger in
January than in December and 44 per cent larger than
a year ago, while the wholesale price of electrolytic
averaged 3 per cent higher than in December and 18
per cent above the corresponding month of 1924.
New orders received for brass faucets declined 26
per cent from December, but were 32 per cent larger
than in January, 1924, while shipments of faucets
were twice as large as in December and 87 per cent
above those of a year ago. New sales of tubular
plumbing were 45 per cent and 41 per cent smaller,
respectively, than in December or a year ago.
kl.000
The number of zinc retorts in operation at the end
of January totaled 86,081, an increase of 6 per cent
over the previous month and 9 per cent over a year
ago. The output of primary zinc increased 6 per cent
over December and slightly more than 1 per cent over
January, 1924. Zinc stocks held at the end of January were 10 per cent smaller than the inventories at
the end of 1924 and 53 per cent smaller than a year
ago. The price of prime western zinc in slabs averaged 5 per cent higher than in December and 20 per
cent above a year ago.
13
RELATIVE PRODUCTION AND STOCKS OF ZINC
(1913 monthly average™ 100. January, 1925, is latest month shown)
The production of lead increased in January over
both the previous month and a year ago while the price
of pig lead, desilverized, in the New York market was
10 per cent higher than in December and 28 per cent
above a year ago.
COAL AND COKE
The output of bituminous coal totaled 51,914,000
tons in January, an increase of 12 per cent over the
previous month but a decline of 1 per cent from a year
ago. Exports of bituminous were 10 per cent smaller
than in December and 6 per cent smaller than a year
ago. Prices of bituminous at the mines averaged 2
per cent higher than in December but 6 per cent below
the prevailing quotations of a year ago, while retail
prices for bituminous at Chicago were 4J^ per cent
higher than in December and 2 per cent below a year
ago, and wholesale prices showed relatively little change.
Anthracite coal production was slightly larger than in
December but 7 per cent smaller than in January, 1924.
Exports of anthracite, though 9 per cent larger than
in January, 1924, were 8 per cent smaller than in
December.
PRODUCTION OF BITUMINOUS AND ANTHRACITE COAL
(January, 1925, is latest month plotted)
PRODUCTION OF BEEHIVE AND BY-PRODUCT COKE
(January, 1925, is latest month shown)
Wholesale prices for chestnut averaged higher in
New York than in either the previous month or a year
ago. The output of both beehive and by-product
coke was larger in January than in either the previous
month or a year ago while exports of coke also registered corresponding increases over these same periods.
The wholesale price of furnace coke at Connellsville
increased 15 per cent in January over both the previous month and January a year ago.
PETROLEUM
Production of crude petroleum in January was about
5 per cent larger than either the previous month's output or the production of a year ago. Tank-farm and
pipe-line storage of crude petroleum declined 1,741,000
barrels during January but represented an increase of
16,467,000 barrels over holdings a year ago. Computed at the current consumption rate, January holdings were sufficient for 160 days as against 162 days'
supply a year ago.
AUTOMOBILES AND RUBBER
January automobile production was considerably
larger than in December, but was only 71 per cent of
the output for January, 1924. Both domestic and
Canadian production of passenger cars shared in the
general increase over December, while for trucks the
domestic output was also larger in contrast with a
decline in Canadian-made trucks.
Exports from the United States of both passenger
cars and trucks were larger than during either December or January, 1924. Canadian exports also
exceeded December totals, a slight decline in passenger
car exports being more than offset by an increase of
56 per cent in the number of trucks exported. Exports from Canada, both of passenger cars and of
trucks, however, fell considerably short of a year ago.
Accessories and parts were exported in smaller quantities from both the United States and Canada than in
either December or January, 1924.
14
Imports of crude rubber advanced 25 per cent from
December and 50 per cent from a year ago. The
price remained practically stationary as compared
with the previous month, but averaged 60 per cent
higher than in January, 1924. Production of pneumatic casings and inner tubes increased slightly over
December, and by 10 and 22 per cent, respectively,
over a year ago, while output of solid tires declined
from both periods. Shipments of pneumatic tires and
of solid tires were less in January than in the previous
month but for pneumatics and inner tubes were larger
than a year ago; stocks at the end of January, on the
other hand, were larger than at the end of either December or January, 1924.
NEWSPRINT PAPER PRODUCTION AND MILL STOCKS
(January, 1925, latest month shown)
HIDES AND LEATHER
Imports of hides were less in January than in December but were much larger than a year ago. The
decline from the previous month was chiefly due to the
decreased receipts of calfskins and cattle hides, goat
and sheep skins having arrived in increased quantities.
All classes of hides, except calfskins, were imported in
greater quantities than in January, 1924. Prices of
hides showed little change from the December averages but were considerably higher than a year ago.
Exports of sole leather were somewhat less and
exports of upper leather considerably greater than in
December; exports of both classes were half again as
large as they were a year previous. Leather prices
were higher than in December or January, 1924.
The production of boots and shoes was somewhat
larger in January than in the previous month and was
practically the same as in January, 1924. Exports
were lower than in December, but higher than a year
ago. Wholesale prices exhibited a slight upward
trend as compared with the previous month and with
a year ago.
COMPARISON OF CAR LOADINGS OF MERCHANDISE, L. C. L., AND
MISCELLANEOUS FREIGHT WITH BOXBOARD PRODUCTION
(January, 1925, is latest month shown)
PAPER AND PRINTING
Wood-pulp imports were slightly larger in January
than in December, due to the increase in imports of
chemical wood pulp which more than offset the decline
in that of mechanical wood pulp; imports of both
classes were larger than a year ago. Production and
stocks of newsprint paper at the mills were larger than
for the previous month, but less than in January,
1924, while shipments exceeded both the month
before and a year ago. Imports of newsprint paper,
while greater than a year ago, were 10 per cent lower
than in December. Shipments of sales books were at
a lower level than in either December or January, 1924.
Box-board production for January exceeded December production by 18 per cent. Inch-hour operations,
orders received, and unfilled orders, were all higher than
in December; and the unfilled orders stood at a much
higher level than a year earlier. Below is given a
chart comparing the production of box board and the
car loadings of merchandise, less-than-carload lots, and
miscellaneous freight.
The production of paper-board shipping boxes was
less than in December but greater than a year ago,
the activity in January being 71 per cent of normal as
against 75 per cent in December and 72 per cent in
January, 1924. Sales of abrasive paper and cloth
were at a higher level than in December or a year ago,
the 30 per cent increase in domestic sales over the
previous month more than counterbalancing the
decline in foreign sales.
00
?"-
500
BUTTONS AND OPTICAL GOODS
The January production of fresh-water pearl buttons represented 34 per cent of capacity as against 37
per cent in December and 36 per cent a year ago.
Stocks were likewise lower than at either the end of the
previous month or of January, 1924. Orders, production, and shipments of illuminating glassware all stood
at lower levels than for either December or January,
1924.
15
BUILDING CONSTRUCTION
Construction costs were unchanged from January
and were slightly less than a year ago. The plumbing
price index rose after declining for several months.
Building contracts awarded in January declined 10
per cent from December in both floor space and value.
Contracts for commercial buildings, however, showed
a heavy increase in both floor space and value, while
public and semipublic buildings increased slightly in
respect to value only. Compared with a year ago,
contracts let declined about 15 per cent in floor space
and 2 per cent in value, commercial buildings again
running counter to the general trend with large increases in both respects, while contracts for industrial
buildings increased over a year ago in floor space only
and public and semipublic buildings in value only for
36 States.
Fire losses in January were about 7 per cent less
than in December and about the same as a year ago.
BUILDING MATERIALS
Production and shipments of lumber increased over
December, but redwood, western pine, North Carolina
pine, and California white pine showed declines. Production of all species except northern pine and North
Carolina pine increased over a year ago, while shipments
were less than a year ago except for California
white pine, western pine, and northern pine. New
orders received in January declined from the previous
month except for southern pine, while Douglas fir
orders made an exception to the declines from a year
ago. Stocks increased over December for southern
pine and walnut, with western pine and California
white pine declining, while compared with a year ago
southern pine increased and the other stocks declined.
Exports of lumber declined from December owing to
smaller shipments of southern pine, while compared with
a year ago, the outward movement was less, due to
smaller exports of Douglas fir. Retail sales in the Minneapolis district declined from December but increased
over a year ago, stocks increasing over both periods.
Lumber prices averaged higher than a month previous,
hardwoods making a higher average than a year ago
and softwoods lower.
Orders booked for both oak and maple flooring
declined from December but production, shipments,
stocks, and unfilled orders increased, outside of a
decline of 1 per cent in maple flooring production.
Compared with a year ago, stocks of both species
increased about 30 per cent while new orders and unfilled orders declined. Production and shipments of
oak flooring increased over a year ago while for maple
flooring declines occurred.
Face brick production and shipments declined from
December, but January's output was larger than a
year ago. Shipments declined from both periods while
unfilled orders increased over December but were less
than on January 31, 1924.
Production and new orders of clay fire brick declined from December and also from a year ago, but
shipments were greater than in either previous period.
Stocks on hand declined from December 31, but were
larger than a year ago. Unfilled orders increased
slightly during January but were less than a year ago.
Production, shipments, stocks, and unfilled orders
of silica brick exceeded those for December, and also
for a year ago, but new orders declined from both
these months.
Paving brick output was at 62 per cent of capacity
in January, as against 75 per cent in December and
46 per cent a year ago. Stocks, production, and unfilled orders increased over December and over a
year ago, while shipments, orders, and cancellations
declined from both periods.
Bookings of architectural terra cotta increased over
December in both volume and value, but declined
from January, 1924. Common brick prices advanced
over December but were lower than a year ago.
Production of Portland cement was higher than a
year ago, but shipments were lower. Stocks were
higher than on January 31, 1924. The price of
cement in the Chicago district was higher than in
December, while the Lehigh Valley price remained
unchanged. Concrete paving contracts let in January
were larger than a year ago in yardage.
Shipments of enameled sanitary ware made a
seasonal increase over December but were smaller
than a year ago for all classes. Orders received were
also larger than in December, but declined from a
year ago except for baths and lavatories. Except
for slight increases in baths and sinks, stocks of
enameled sanitary ware were less than at the end of
December, while compared with a year ago stocks of
all classes were much larger. Unfilled orders increased over December, but were considerably less
than a year ago.
CHEMICALS AND OILS
The price index of crude drugs declined from 231 in
December to 222 in January, while essential oils and
chemicals each rose one point and drugs and pharmaceuticals and fats and oils each declined one point.
Receipts and stocks of both turpentine and rosin
declined seasonally in January and were also less than
a year ago except stocks of turpentine, which were
19 per cent larger.
Exports of vegetable oils declined from December
but were twice as large as a year ago. Cottonseed
stocks declined seasonally and were 55 per cent above
a year ago. Production of cottonseed oil was slightly
larger than in December and 75 per cent higher than a
year ago while stocks increased 15 per cent over December 31, but declined 11 per cent from January,
1924. The price of cottonseed oil was slightly less
than in December, but somewhat above a year ago.
16
Receipts, shipments and stocks of flaxseed and of
linseed oil and oil cake declined seasonally from
December but were larger than a year ago.
CEREALS
Receipts and shipments of wheat at the principal
markets declined seasonally from December but were
considerably higher than a year ago. Exports were
slightly higher than a year ago, as was the visible
supply in the United States. The Canadian visible
supply, however, was 35 per cent less than a year ago.
The price of wheat averaged 13 per cent higher than
in December. Flour prices were from 9 to 13 per cent
above the previous month.
Corn receipts were 21 per cent higher than a year
ago but shipments were less. Exports declined from a
year ago but the visible supply was almost three times
as large as the January, 1924, supply. Grindings of
corn increased over December and were about the
same as a year ago. Corn prices increased slightly
over the December average.
Receipts of oats increased 45 per cent over January,
1924, exports were 54 per cent higher while the visible
supply was over four times as large as on January 31,
1924. The average price of oats showed almost no
change from December.
Receipts and exports of barley and rye were considerably larger than a year ago, and prices rose from
the December averages.
Combining all grains and flour, the exports declined
39 per cent from December and increased 3 per cent
over a year ago, while car loadings were 17 per cent
below December and 14 per cent higher than a year
ago. Wheat and corn supplies in Argentina were
higher than a year ago, with a large seasonal increase
over the end of December.
Receipts of paddy rice at Southern mills were only
half as large as in January, 1924. Shipments and
stocks of rice were slightly less than a year ago. Carlot shipments of potatoes, onions, and citrus fruits and
market receipts of hay were all larger than a year ago
but car-lot shipments and storage holdings of apples
were smaller.
MEATS AND DAIRY PRODUCTS
The movement and slaughter of cattle was slightly
less than in January, 1924, while exports of beef
products also declined slightly from a year ago, but
exceeded December by a small margin. Storage
holdings of beef products declined seasonally from
December but were 37 per cent higher than a year
ago. Cattle prices averaged less than in December,
carcass beef was stationary and steer rounds advanced.
The movement and slaughter of hogs was slightly
less than in January, 1924. Exports of pork products increased over December but were one-third
less than a year ago. Cold-storage holdings of pork
products increased seasonally over December and
were larger than a year ago. Lard production and
exports were less than a year ago but storage holdings
were twice as large and were responsible for the
increase over a year ago hi cold-storage holdings of
total pork products. Prices of hogs and pork increased over the December average.
The movement and slaughter of sheep also declined
from a year ago, while storage holdings were slightly
higher than in January, 1924. Prices of lambs and
ewes both rose considerably over the December
averages.
Receipts of poultry were less than a year ago
while storage holdings were almost 40 per cent larger.
Slightly more fish were held in cold storage on January 15, 1925, than a year ago.
Butter receipts were slightly higher than a year
ago but storage holdings at the end of January were
three times as high as a year ago. The price of butter
declined from December and was 20 per cent below
a year ago.
Cheese receipts and stocks were both slightly
higher than a year ago, the price of cheese being
slightly higher than in either December, 1924, or
January, 1924.
Receipts of eggs were smaller than a year ago and
storage holdings were only one-sixth as large.
Exports of condensed and evaporated milk declined
slightly from December and were considerably less
than a year ago, owing to the decline in evaporated
milk shipments from January, 1924.
SUGAR AND COFFEE
Imports, meltings, and stocks of raw sugar were all
considerably larger than a year ago. Receipts of
domestic cane sugar were much smaller than in
January, 1924, while exports of refined sugar were
double the exports of a year ago. Sugar prices
declined from December and were considerably less
than a year ago. The receipts, exports, and stocks of
raw sugar in Cuba all exceeded the January, 1924,
figures.
RAW SUGAR: IMPORTS, MELTINGS AND REFINERY STOCKS
(January, 1925, is latest month shown)
17
The visible supply of coffee on January 31 was larger
than a year ago, both for the United States and for
the world, while receipts and clearances in Brazil
showed declines from January, 1924. A larger amount
of coffee was cleared for the United States, however.
TOBACCO
Consumption of tobacco products, as shown by taxpaid withdrawals from warehouses, increased from 22
to 24 per cent over December for cigarettes and manufactured tobacco, while cigars declined. Compared
with a year ago, cigarette consumption alone increased.
Exports of both cigarettes and unmanufactured
tobacco showed a decline from December and a year
ago. The price of Burley tobacco was unchanged
from December and lower than a year ago.
RELATIVE CONSUMPTION OF CIGARETTES AND CIGARS
(1913 monthly average^ 100. January, 1925, is latest month shown)
RAILROADS
Loadings of freight cars were less than in December
but larger than a year ago. All classes of freight had
smaller loadings than in December, in a seasonal
movement, while the increases over a year ago were
distributed throughout the entire list of groupings,
ore and grains showing the greatest relative increases.
The surplus of idle freight cars was reduced 20 per
cent from December but stood 27 per cent higher
than in January, 1924. The shortage of freight cars
which, because of geographical considerations, could
not be supplied from surplus was only about one-tenth
as large as a year ago. Cars in bad order at the end
of January represented 8.1 per cent of the total in use
as compared with 8.3 per cent in December and 7.1
per cent a year ago. Locomotives in bad order represented 17.6 per cent of the total in use on January
31, as against 17.5 per cent a month previous and
16.8 per cent a year ago.
EMPLOYMENT
SHIPPING
Clearances of vessels in foreign trade increased over
a year ago, due to the gain in foreign tonnage, as
American bottoms showed almost the same tonnage in
clearances as January, 1924. Ohio River traffic from
Pittsburgh to Wheeling showed an increase of almost
50 per cent in tonnage over a year ago.
The general index of factory employment stood at
90 in January compared with the 1923 average as 100,
as against 89 in December and 95 a year ago. Increases over December were made in the textile, iron
and steel, leather, paper and printing, chemicals, and
miscellaneous groups, while the lumber, stone, clayf
and glass; metals, other than iron and steel, and
vehicle groups declined, and food products and tobacco remained unchanged. Compared with a year
ago, the paper and printing group increased its employment, tobacco remained unchanged, and the other
groups declined.
State reports show slight increases in employment
over December for Illinois and Massachusetts, and a
very slight decline in New York. Detroit employment was much larger than in December owing to
shutdowns during the holidays. Compared with a
year ago, all these reports showed declines ranging from
4 per cent in Massachusetts to 13 per cent for Detroit.
GENERAL INDEX OF EMPLOYMENT IN MANUFACTURING INDUSTRIES
(1923 average employment taken as 100. January, 1925, is latest month shown)
I 1914 I
1915
34292—25f
I 1925
18
DISTRIBUTION
Mail-order and 10-cent chain stores sales declined
from the holiday peak in December but were 14 and 20
per cent higher, respectively, than in January, 1924.
The 4 principal 10-cent chains operated 145 more
stores than a year ago, a gain of about 7% per cent.
Magazine advertising, for February magazines, and
newspaper advertising placed in January both were
slighly larger than a year ago. Postal receipts in
January at both the 50 largest cities and the second
50 cities increased over a year ago. Taxes collected
on firearms and capital-stock transfers were larger
than a year ago, while taxes on conveyances and
security issues were smaller.
loans, investments, and deposits all declined slightly
from December but increased from 10 to 23 per cent
above a year ago. Interest rates for both call money
and commercial paper increased slightly over the
December average and were about 25 per cent less
than a year ago.
BILLS DISCOUNTED AND TOTAL INVESTMENTS OF FEDERAL
RESERVE BANKS
(January, 1925, is latest month shown)
3,000 r
SALES BY MAIL-ORDER HOUSES AND TEN-CENT CHAIN STORES
(January, 1925, is latest month shown)
70
LIFE INSURANCE
Total new life insurance done in January by 45
companies was larger than a year ago, though industrial business declined. All groups declined from
December. Premium collections in all groups were
larger than in January, 1924. Sales of ordinary life
insurance reported by 81 companies show increases
over a year ago in all districts, with the western agricultural and far western districts making the largest
relative gains. All districts made declines from
December.
BANKING AND FINANCE
January check transactions were slightly larger than
those for December, while compared with a year ago
increases of from 25 to 29 per cent, according as
debits or clearings are used, were made for New York
City, and increases of from 10 to 15 per cent for the
rest of the country. Federal reserve banks reported
less notes in circulation, less deposits, and less investments than at the end of December, while discounts
and reserves increased. Compared with a year ago,
increases were made in investments and in deposits,
while discounts, note circulation and reserves declined.
The reserve ratio stood at 78 per cent at the end of
January, as compared with 73 per cent a month previous and 81 per cent a year ago. Member bank
Business failures increased over December in both
number and liabilities, agents and brokers showing an
increase in liabilities but a decline in defaulting
firms, with the manufacturing and trading groups
showing a reverse situation. Compared with a year
ago, increases were also noted in failures for both
firms and liabilities, manufacturing establishments
alone making a decline in both instances.
Dividend and interest payments scheduled for
February showed an increase of 8 per cent over a
year ago, dividend payments alone increasing 3^ per
cent. Street railway dividends rose 7 per cent, steam
railroads 3% per cent, and industrials 3 per cent over
last February.
LOANS AND DISCOUNTS AND TOTAL INVESTMENTS OF FEDERAL
RESERVE MEMBER BANKS
(January, 1925, is latest month shown)
TOTAL LOANS AND DISCOUNTS
§6
TOTAL INVESTMENTS/
25
192!
1922
1923
1924
1925
New security issues by corporations in January
showed considerable increases over both the previous
month and a year ago, while new State and municipal
loans declined slightly from December but were larger
than a year ago.
Agricultural loans closed by Federal farm loan
banks in January declined 4 per cent from December
and 27 per cent from a year ago. The balance of such
BUSINESS FAILURES, BY CLASSES OF ESTABLISHMENTS
(Data plotted are 12 months' moving monthly averages. January, 1925, is latest month shown)
2.00Q
BROKEN LINES DENOTE
MANUFACTURING ESTABLISHMENTS
loans outstanding on January 31, however, was 1 per
cent greater than a month before and 15 per cent
above January 31, 1924.
Average prices for both railroad and industrial
stocks were slightly higher in January than in December and considerably above a year ago. Stock sales
were 9 per cent above December and 68 per cent above
January, 1924. Bond sales declined from December
and were greater than a year ago in spite of a reduction of 47 per cent in sales of United States Government bonds. Bond prices increased slightly over the
December average, all increases being less than 1 per
cent.
GOLD AND SILVER
Domestic receipts of gold at the mint and production in the Rand both declined from December but
increased over a year ago. Imports of gold were 59
per cent less than in December and 91 per cent less
than a year ago, while gold exports increased 85 per
cent over December and were almost 300 times as
large as a year ago. The next net export balance of
gold for January of $69,000,000 compares with $29,000,000 for December and a net import balance of
$45.000,000 for January, 1924.
Silver production decreased during January from the
December output but was larger than a year ago.
Both imports and exports of silver increased over
December and also over a year ago, the net export
balances of $4,000,000 for January comparing with
$5,000,000 for December and $2,000,000- a year ago.
The New York price of silver increased fractionally
over December and was 8 per cent above a year ago.
FOREIGN EXCHANGE AND TRADE
Outside of increases in the rate of exchange for the
pound sterling a ad for Argentine pesos, there was little
change in the various foreign exchange rates from
December. The Swiss rate declined a fraction of a
point, the only downward trend among the principal
countries. The general index of foreign exchange
rose from 62 in December to 64 in January, comparing
with 59 a year ago.
Both imports and exports of merchandise increased
slightly over December and were each about $50,000,000 higher than a year ago, exports continuing to
exceed imports by about $100,000,000,
CHANGES IN CAPACITY IN THE STRUCTURAL STEEL
INDUSTRY SINCE 1913, BY TONNAGE GROUPS
For almost three years the Department of Commerce
has been issuing monthly data on structural steel bookings as compiled from individual reports comprising
about 85 per [cent of the tonnage capacity of this
20
industry. Supplementing this monthly inquiry annual
surveys have been made to determine, so far as
possible, the^changes in capacity which have occurred
in the structural steel shops, with the primary view
to showing correct percentages of capacity in the
monthly^ reports on bookings. As an outgrowth of
these annual surveys there have developed several
interesting facts which are below set forth, relating to
the changes in plant capacities by typical tonnage
groups. It should be remembered that the capacity of
structural-steel shops is quite elastic in that this same
capacity, when not busy on structural work, may be
used for plate work, shipbuilding, and the like. Conversely the capacity ordinarily devoted to these other
lines may be used at times for structural work. The
capacity of the industry as ascertained in the annual
surveys and as used in the present study represents the
amount of structural work that could actually be
turned out running single turn on the class of structural work usually secured.
The capacity of the three tonnage groups, shown
below are based upon reports from 190 firms in 1924
whose aggregate capacity for 1924 totaled 252,440
tons. Of this total 57.8 per cent represented 19 firms
of 2,500 or more tons capacity; 33.4 per cent, 89 firms
of 500 to 2,499 tons; and 7.9 per cent, 82 firms of less
than 500 tons capacity. In any previous year the
total number of firms may have varied from 190 on
account of either discontinuances, consolidations, or
new firms.
The charts given on this page show the changes,
both actual and percentage, which have taken place
as between these three tonnage groups since the year
1913.
ACTUAL ANNUAL CHANGES IN THE CAPACITY OF THE FABRICATED STRUCTURAL STEEL INDUSTRY, BY TONNAGE GROUPS
260
1
LESS THAN 500
*^~~
82 FIRMS
t
^^^^
—
— •— -—•—
^
•
.
S
-X
'
—- •
•
^
13 1914 1915 1916 1917 1918 1919 1920 1921 1922 1923 1924
CHANGES IN THE CAPACITY OF THE FABRICATED STRUCTURAL
STEEL INDUSTRY SHOWING THE PERCENTAGE DISTRIBUTION
BY TONNAGE GROUPS
MONTHLY TONNAGE CAPACITY AND PER CENT DISTRIBUTION,
BY GROUPS
1913
1914
1915
1916
1917
1918
TONNAGE GEOUP
MONTHLY TONNAGE CAPACITY
Total (190 firms)
2,500 tons and over (19 firms)...
500 to 2,499 tons (89 firms)
Less than 500 tons (82 firms)....
185, 790 186, 640 188, 150 193, 475 200, 760 210, 395
118,730 119, 030 120, 055 121, 205 124,830 130, 780
52, 850 53, 050 53, 250 56,700 60,000 62, 785
14, 210 14, 560 14, 845 15, 570 15, 930 16, 830
PER CENT DISTRIBUTION
Total (190 firms)
2,500 tons and over (19 firms)...
500 to 2,499 tons (89 firms)
Less than 500 tons (82 firms)
100. 00
63.91
28.44
7.65
100. 00
63.78
28.52
7.80
100. 00
63.81
28.30
7.89
100. 00
62.65
29.31
8.04
100. 00
62.18
29.88
7.94
100.00
62.16
29.84
8.00
1919
1920
1921
1922
1923
1924
TONNAGE GROUP
MONTHLY TONNAGE CAPACITY
Total (190 firms)
217, 485 223, 930 227,380 243,440 246, 590 252, 440
2,500 tons and over (19 firms)... 133, 480 134, 880 135, 800 146,200 145,200 148, 150
500 to 2,499 tons (89 firms)
66, 710 71, 335 73, 660 77, 685 81, 110 84,235
Less than 500 tons (82 firms)
17, 295 17, 715 17,920 19, 555 20, 280 •20,055
PER CENT DISTRIBUTION
Total (190 firms)
100. 00
2,500 tons and over (19 firms)...
61.37
500 to 2,499 tons (89 firms)
30.68
Less than 500 tons (82 firms)....
7.95
100. 00
60.23
31.85
7.92
100. 00
59.73
32.39
7.88
100. 00
60.06
31.91
8.03
100. 00
58.88
32.90
8.22
100.00
58.69
33.37
7.94
7,5
1913 1914 1915 1916 1917 1918 1919 1920 1921 1922 1923 1924
21
INDEXES OF BUSINESS
The index numbers presented in this table are designed to show the trend in production, prices, trade,
etc., in various groups of industry and commerce. They consist in general of weighted combinations of series
of individual relative numbers; often the individual relative numbers making up the series are also given. The
function of index and relative numbers is explained on the inside front cover. A condensed form of this table
is given on page 7
IS124
1923
1925
Maximum
since
Jan. 1,
1920
Minimum
since
Jan. 1,
1920
179
73
129
108
179
155
142
155
212
137
121
241
135
171
133
131
145
62
105
41
0
0
17
74
38
57
80
125
187
119
109
0
121
131
123
92
101
128
179
131
108
0
124
130
133
76
99
138
190
121
105
129
130
168
112
129
119
119
179
105
92
39
128
165
112
108
119
138
227
143
177
153
245
390
135
190
80
19
58
64
54
30
21
45
94
139
87
88
156
67
49
382
70
125'
119
66
92
167
75
60
192
59
126
112
62
133
107
146
62
138
117
136
246
242
254
405
278
170
49
54
58
50
19
21
133
125
85
94
154
150
93
94
129
89
81
102
136
135
140
267
151
61
59
51
20
24
104
100
102
201
98
Grand total (adjusted for working days)
Grand total (unadjusted)
Foodstuffs
Textiles
Iron and steel
Lumber..
Leather
Paper and printing
Chemicals, oils, etc
.
Stone, clay, and glass
Metals, excepting iron and steel
Tobacco
Miscellaneous
130
135
129
130
147
145
115
121
171
143
195
125
145
71
68
77
54
32
57
63
69
92
69
71
70
37
109
105
Electrical power
.
Building construction (total awards)*...
172
147
98
30
PEE CENT I]NCREASE (+)
OB DECK EASE (-)
Jan., 1926,
from Dec.,
1924
Jan., 1925,
from Jan.,
1924
120
-15. 5
+ 11.1
123
180
118
101
0
127
163
123
92
120
132
188
134
101
0
135
171
132
88
114
+ 7.3
+ 4.4
+ 13.6
+ 3.1
+ 5.0
+ 2.3
-6.5
+ 6.3
+ 4.9
+ 7.3
-4.3
-5.0
+ 8.9
+ 31.5
-0.8
+ 15.8
+ 15. 2
125
69
115
131
83
39
313
81
128
138
93
102
177
71
43
390
71
130
114
19
91
163
65
53
154
64
129
-17.4
-79.6
-10. 8
-7. 9
-8. 5
+ 23.3
-60. 5
-9.9
-0.8
-4.2
-71. 2
-1. 1
246
242
228
357
278
120
195
166
141
184
271
120
158
133
92
84
234
106
119
121
130
82
128
101
-U. 7
-9.0
+ 41.3
-2. 4
-45.3
-4. 7
+ 58.0
-1. 0
109
108
121
94
114
122
121
112
169
65
112
111
95
179
76
98
104
114
196
72
114
114
125
76
81
+ 16.3
+ 9. 6
+ 9. 6
-61. 2
+ 12. 5
+ 4.6
+ 5. 6
+ 3. 3
-19. 1
-28. 9
114
119
116
121
114
110
112
112
116
121
+ 1.8
+ 1. 7
+ 0. 9
0. 0
+ 12. 9
+97
2 3
+7 5
-15.0
Decem- January October Novem- Decem- January
ber
ber
ber
PRODUCTION
(Relative to 1919 monthly average as 100)
RAW MATERIALS
MINERALS
Total
Petroleum
Bituminous coal
Anthracite coal
Iron ore *
Copper
Lead
Zinc
Gold
Silver
-..
- j
_
---.
0.0
0.0
0.0
ANIMAL PRODUCTS (marketings)
Total .
.
Wool*
Cattle and calves _.
Ho t? s
Sheep
.
Eggs *
Poultry *
Fish
Milk (New York)
--
.. _
2.4
-13.3
-11.7
-19.8
+ 8.5
+ 2.4
CROPS (marketings)
Total.Grains*
_
Vegetables * . Fruits*
_
Cotton products *
Miscellaneous crops *
.
__ .
+ 28.0
+ 28.7
+ 0.8
7.9
FOREST PRODUCTS
Total
Lumber
Pulpwood
Gum (rosin and turpentine) *
Distilled wood
-
MANUFACTURING
107
95
106
115
77
103
150
101
159
88
101
111
117
124
124
87
114
145
101
176
111
116
153
102
160
107
• Fluctuations between maximum and minimum largely due to seasonal conditions.
111
111
105
144
96
113
165
143
163
123
121
160
102
101
101
106
131
81
103
167
128
152
106
100
156
105
104
109
122
127
83
106
173
116
149
100
95
112
117
140
136
85
112
165
104
178
111
117
+ 3. 6
+ 8. 0
+ 7. 7
+ 7. 3
+ 14. 8
+ 7. 1
+ 2. 4
+ 5. 7
4 6
10 3
+ 19. 5
+ 11. 0
+ 23. 2
171
100
172
91
+0 6
-9.0
— 1. 8
+ 13 8
+30
+ 1. 1
0 0
+0 9
22
INDEXES OF BUSINESS—Continued
19«4
1923
since
Jan. 1,
1920
STOCKS
(Relative to 1019 monthly average as 100)
(Corrected for seasonal variation)
Total
Raw foodstuffs
Raw materials for manufacture
Manufactured foodstuffs
Manufactured commodities
(Unadjusted index)
Total
Raw foodstuffs
TR.?VW Tnfttfvri*Vls for rnamifafttiire
Manufactured foodstuffs
_
Manufactured commodities
UNFILLED ORDERS
(Iron, Steel, and Building Materials)
Total (8 commodities; 1920 = 100)
Iron and steel
Building materials
WHOLESALE TRADE
Minisince
Jan. 1,
1920
156
233
189
115
176
91
73
89
58
86
125
141
119
81
146
186
164
125
74
161
137
154
129
87
161
135
153
135
84
155
145
184
142
88
152
164
232
187
115
171
84
70
68
56
89
135
147
149
76
159
132
151
130
76
157
142
148
167
93
157
145
154
181
83
158
116
112
153
40
37
25
58
45
109
63
47
130
43
34
81
98
62
72
80
117
115
116
120
125
58
54
58
52
72
90
97
82
83
98
78
82
99
101
98
89
40
31
26
47
100
103
100
91
124
62
60 1
62
56
77
130
146
117
112
185
December
PER CENT I NCREASE (+)
OR DECR EASE (-)
1925
Maxi-
Jan., 1925,
from Dec.,
1924
Jan., 1925,
from Jan.,
1924
156
186
156
87
176
+ 7.6
+ 1.1
+ 9. 9
— 1. 1
+ 5. 8
+ 14. 7
+ 13. 4
+ 24 8
+ 17 6
+9 3
156
191
181
82
163
164
219
163
85
171
+ 5. 1
+ 14. 7
— 9. 9
+ 3. 7
+ 4. 9
+ 24. 2
+ 45 0
+ 25 4
+ 11 8
+89
53
42
99
62
49
114
62
50
115
0.0
+2.0
+0.8
—1 6
+64
— 11 5
95
84
79
78
— 1. 3
91
84
111
84
104
110
107
95
110
107
98
95
88
93
90
99
97
85
92
91
89
83
98
81
90
-10. 1
-14. 4
+ 15. 3
— 11. 0
— 1. 1
51
45
48
46
63
49
50
49
41
53
67
63
69
50
69
57
49
55
48
63
57
54
44
47
50
44
43
40
26
58
-22. 8
-20. 4
—9 1
— 44. 7
+ 16. 0
—2
—2
—1
11
—3
— 13
— 10
76
80
83
56
83
80
80
82
66
97
100
94
100
91
108
89
88
88
80
98
83
80
87
73
85
80
75
86
68
91
— 3. 6
-6. 2
—1 1
—6 8
+71
0 0
—6 2
+4 9
+30
—6 2
88
85
75
74
99
99
103
87
98
120
116
130
112
97
140
128
146
107
108
185
109
113
103
94
139
109
120
100
91
134
115
129
110
95
145
+ 5. 5
+ 7. 5
+ 10 0
+ 4. 4
+82
—0 9
—0 8
— 18
—2 1
+36
123
135
119
131
136
64
71
45
53
67
66
79
48
63
83
97
104
92
100
94
104
103
84
94
120
88
88
70
86
92
76
97
51
71
76
82
94
70
80
83
+ 79
—2 1
+ 37. 3
+ 12 7
+92
78
43
65
66
78
68
67
68
+ 1. 5
January October
November
December
January
(Relative to 1919 monthly average as 100)
(Distributed by Federal Reserve Districts) 1
Grand total, all classes
HARDWARE, total 10 districts
New York
Richmond
Chicago
San Francisco_.
SHOES, total 8 districts.
New York
._
Richmond
Chicago
San Francisco _ _
GROCERIES, total 11 districts
New York
Richmond
Chicago
- _
San Francisco
DRUGS, total 7 districts.
New York
Richmond
Chicago
__ _
San Francisco
DRY GOODS, total 9 districts
New York
Richmond
Chicago
San Francisco
MEATS, total 2 districts
RETAIL TRADE
5
2
2
7
6
5
2
— 14. 0
— 18 4
— 36 6
+94
— 15
—9
— 23
— 20
— 11
5
6
9
0
7
+30
1
(Relative to 1919 monthly average as 100)
MAIL-ORDER HOUSES (4 houses)
148
49
118
98
141
131
148
108
— 27 0
+ 10 2
_
366
214
250
186
193
276
188
84
55
119
109
106
108
72
331
214
201
185
193
261
171
126
84
203
141
119
154
99
203
124
238
159
144
199
138
199
111
229
145
138
186
146
366
184
250
187
192
282
186
151
92
245
155
122
162
107
— 58
— 50
—2
— 17
— 36
— 42
— 42
7
0
0
1
5
6
5
+ 19 8
+95
+ 20 7
+99
4-2 5
+52
+81
210
154
80
101
202
123
109
115
141
148
141
147
210
124
109
119
— 48 1
—4 0
0 0
+35
CHAIN STORES:
Ten-cent (5 chains)
Music (4 chains)
Grocery (28 chains)
Drug (10 chains)
Cigar (3 chains)
Candy (4 chains)
Shoe (6 chains)
DEPARTMENT STORES:
Sales (359 stores)
Stocks (314 stores)
i Maximum and minimum monthly indexes for the individual districts were selected from the series beginning January, 1921, prior monthly data not being available
while for the several commodity totals the maximum and minimum monthly indexes cover the period since January, 1920. The fluctuations between maximum and
minimum for United States and district totals for a given line are, therefore, not comparable.
23
INDEXES OF BUSINESS—Continued
Maximum
since
Minimum
since
195(4
1923
1925
Jan. 1,
1920
Jan. 1,
1920
235
283
373
186
215
304
180
110
88
114
91
111
76
80
135
108
114
98
152
253
98
134
110
118
101
140
255
99 '
136
150
109
121
130
182
102
137
147
108
115
150
179
106
248
243
248
346
281
203
300
213
275
208
138
114
131
171
162
109
155
121
171
114
151
145
147
203
162
142
178
130
176
116
151
144
143
200
169
142
181
132
176
116
152
149
152
188
162
127
171
132
171
120
249
311
218
375
272
135
122
103
152
165
153
181
115
191
165
155
182
115
194
170
247
244
249
138
118
146
151
136
158
267
246
272
142
102
125
218
227
December
November
December
PER CENT I NTCREASE (+)
OB DECB EASE (— )
Jan., 1925,
Jan., 1925,
January
from Dec.,
from Jan.,
139
155
110
113
158
176
102
146
172
122
123
154
182
94
+ 5.0
+ 11.0
+ 10.9
+ 8.8
-2.5
+ 3. 4
-7.8
+ 9.0
+ 56.4
+ 3.4
+ 21.8
+ 10.0
-28.6
-5. 1
153
150
154
190
163
129
172
134
172
123
157
157
158
191
165
133
175
135
172
129
160
163
160
191
168
136
179
135
173
127
+ 1.9
+ 3.8
+ 1. 3
0.0
+ 1.8
+ 2.3
+ 2.3
0.0
+ 0.6
-1.6
+ 6.0
+ 13.2
+ 11.9
-4.5
-0. 6
-4.2
1. 1
+ 2.3
-1.7
+ 9. 5
156
172
130
181
165
155
176
124
182
166
161
186
129
187
169
167
196
133
193
172
+ 3. 7
+ 5. 4
+ 3. 1
+ 3.2
+ 1. 8
+ 7. 7
+ 7.7
+ 15.7
0. 5
+ 1.2
151
136
156
152
129
161
153
131
163
157
132
167
160
134
169
+ 1. 9
+ 1. 5
+ 1. 2
+ 6.0
-1.5
+ 8. 3
163
148
199
163
143
196
159
146
167
160
150
169
165
149
171
168
147
175
+ 1.8
-1. 3
+ 2. 3
+ 3. 1
+ 2. 8
-10. 7
134
115
157
144
158
143
160
145
164
147
167
151
169
151
+ 1. 2
0. 0
+ 7. 0
+ 5. 6
219
139
150
149
149
150
152
154
+ 1.3
+ 3.4
205
219
186
288
200
192
155
139
143
153
149
171
165
150
180
175
176
174
165
149
180
176
175
174
165
149
185
177
167
173
165
150
184
173
168
175
166
152
184
173
169
175
167
154
184
174
169
175
+ 0. 6
+ 1. 3
0. 0
+ 0. 6
0. 0
0. 0
+ 1. 2
+ 3. 4
+ 2. 2
-1. 1
-3.4
+ 0. 6
January October
1924
1924
PRICE INDEX NUMBERS
FARM PRICES
(Relative to 1909-1914 average as 100)
All groups
Grain
Fruits and vegetables
Meat animals _
Dairy and poultry
Cotton and cottonseed
Un classified
WHOLESALE PRICES
Department of Labor Indexes
(Relative to 1913)
All commodities
Farm products
Food, etc
Cloths and clothing j
Fuel and lighting
„
Metals and metal products
Building material
Chemicals
House-furnishing goods
Miscellaneous
Federal Reserve Board Regrouping of Department
of Labor Indexes
(Relative to 1913)
Total raw products
Agricultural products
Animal products.
Forest products
Mineral products
All commodities
Producers* goods
Consumers' goods
„
Federal Reserve Board Indexes
(Relative to 1913)
All commodities
Goods imported. _ _
Goods exported
„
Commercial Indexes
(Relative to 1913)
Dun's (1st of following month)
Bradstreet's (1st of following month) _
RETAIL PRICES
FOOD (Dept. of Labor—relative to 1913)
COST OF LIVING
National Industrial Conference Board Indexes
(Relative to July, 1914)
All items weighted
Food..
Shelter.. _
Clothing
Fuel and light
Sundries _ _
. ...
.
24
INDEXES OF BUSINESS—Continued
1924
1923
1925
Maximum
since
Jan. l,
1920
Minimum
since
Jan. 1,
1920
333
310
340
154
155
163
163
170
177
165
173
178
170
180
175
170
175
176
588
537
670
366
306
283
504
152
459
427
577
150
494
445
571
152
497
442
602
162
263
279
218
162
143
170
164
144
179
164
146
172
*321
313
183
171
210
205
236
326
146
160
PER CENT INCREASE (+)
OR DECREASE (— )
January
Jan., 1925,
from Dec.,
1924
Jan., 1925,
from Jan.,
1924
170
180
177
171
177
178
+ 0.6
-1.7
+ 0.6
+ 3.6
+ 2.3
0.0
503
449
621
162
507
451
640
163
514
455
657
164
+ 1.4
+ 0. 9
+ 2.7
+ 0.6
+ 4.0
+ 2.2
+ 15. 1
+ 7.9
165
148
181
165
148
180
168
149
176
171
157
171
+ 1.8
+ 5.4
-2.8
+ 4.3
+ 7.5
-0.6
211
205
213
206
214
210
213
209
213
0.0
+ 0.9
174
183
174183
163
169
163
169
165
171
163
170
-1.2
-0. 6
-6.3
-7. 1
97
102
96
94 |
98
96 1
102
97
98
92
100
97
Q5
95
98
96
93
95
97
102
97
94
94
96
96
95
. 88
97
86
81
94
92
101
89
95
85
88
85
84
88
95
86
82
93
91
101
89
95
85
97
84
85
89
96
88
85
93
91
102
90
94
87
96
85
87
90
96
92
90
90
92
105
91
90
80
96
79
91
+ 1.1
0.0
+ 4. 5
+ 5.9
-3.2
+ 1. 1
+ 2.9
+ 1. 1
-4.3
-8.0
0.0
-7. 1
+ 4.6
December
January October
November
December
PRICE INDEX NUMBERS— Contd.
FOREIGN WHOLESALE PRICES
(Relative to 1913)
United Kingdom:
British Board of Trade
London Economist
U. S. Federal Reserve Board
France:
General Statistical Bureau
U. S. Federal Reserve Board
Italy (Bachi)
Sweden
Canada:
Canadian Department of Labor
U. S. Federal Reserve Board
India (Calcutta)
-Japan :
Bank of Japan
U. S. Federal Reserve Board
Australia
Switzerland
_ _ _
(Relative to July, 1914)
.
2
EMPLOYMENT
(Relative to 1923, monthly average as 100)
Number employed, by industries:
Total, all classes
Food products
_ . _ _
Textiles
Iron and steel
Lumber
Leather
Paper and printing
_
Chemicals
_
*
Stone, clay, and glass
Metals, except iron and steel
Tobacco products
_. _ _
Vehicles
Miscellaneous
1
__ _
Since January, 1921.
1
January, 1920; no other figures for 1920 available.
5.3
-2.0
-4.2
-3.2
-5.3
-5.2
+ 2.9
-6.2
-4.3
-14.9
0.0
-17.7
-4.2
25
FEBRUARY DATA
The following table gives such February data as have been received to and including March 14, 1925, except wholesale prices of individual commodities, which appear on page 5. Text matter covering February data is given on page 1
1925
ITEM
January
1925
February
February, 1924
59,984
48, 602
811, 838
550, 132
482, 146
508, 677
4,621
1,546
3,075
4,081
1,583
2,497
37, 529
60,249
29,804
40, 226
3,214
3,075
254
115, 700
3,740
264
108, 100
4,188
5,285
4,913
2.55
23.21
2.83
2.78
24.13
3.03
85
73
12
99
92
7
397
343
54
499
466
33
87, 377
93,622
33, 406
135, 974
79, 232
87,866
74, 384
116, 390
5,379
2,489
23, 734
3,322
7,961
3,787
28,037
4,838
3,025
38, 650
3,152
48,036
29, 690
16, 303
118, 556
17, 772
40, 550
17, 057
129, 795
26, 735
25, 638
252, 582
19, 825
259, 264
33,905
39, 466
36, 347
46, 406
9,301
7,333
8,899
12, 105
8,916
5,108
17, 720
8,255
6,015
19, 897
8,588
5, 933
16, 815
thous. of bush
thous. of bush
thous. of bush
24, 734
37, 038
23,474
19, 923
21, 274
14, 110
19, 803
43, 442
18, 778
_.thous. of bush
thous of bush
19,864
14, 290
16, 168
12, 270
10,616
21,213
thous. of bush
thous. of bush
thous. of bush
81, 796
28, 812
73, 570
74, 167
34, 199
72,386
72, 914
20, 517
17, 741
thous. of bush
._ . _ . thous. of bush
thous. of bush
7,400
3,200
2,800
9,255
2,000
3,000
9,250
600
5,200
long tons . 296, 101
long tons. . 94, 110
313, 242
137, 829
426, 927
131, 689
IRON AND STEEL
BUILDING AND CONSTRUCTION
'Contracts awarded, floor space (27 States):
Business buildings
thous. of sq. ft__
9,669
Industrial buildings
thous. of sq. ft..
3,794
Residential buildings
thous of sq ft
23,518
Educational buildings
thous. of sq. ft..
2,034
Other public and semipublic
buildings
thous. of sq. ft..
2,724
Grand total
thous. of sq. ft.. 42, 342
Contracts awarded, value (27 States):
Business buildings
thous. of dolls.. 61, 792
Industrial buildings
.
thous. of dolls
16, 793
Residential buildings
thous. of dolls.. 112,402
Educational buildings
thous. of dolls.. 13, 595
Other public and semipublic
buildings
thous. of dolls.. 28,425
Grand total
thous. of dolls.. 255, 367
Northern pine:
LumberProduction
M ft. b. m
33,414
Shipments
M ft. b. m__ 44, 457
LathProduction
. . thousands
8,943
Shipments
thousands
6,566
CEMENT
thous. of blals..
thous. of bbls
thous. of bbls..
FOODSTUFFS
-
Sugar, Cuban movement:
Receipts, Cuban ports
Exports
Stocks, end of month
long tons.. 637, 599
long tons
375, 213
293, 891
long tons
833, 934
504, 146
623, 658
736,588
527, 741
437, 958
154
154
222
155
159
219
153
137
180
29.8
26.9
27.8
25.5
29.9
25.1
3,555
197
146
861
265
40
2,046
3,652
178
128
774
316
42
2,214
3,617
197
133
820
318
38
2,112
34, 746
22, 082
12, 664
25, 379
14, 204
6,672
2,796
1, 707
33, 756
21, 033
12, 723
26, 115
14,843
6,644
2,850
1,778
30, 468
17, 878
12, 590
23,406
13,431
6,019
2,344
1,612
thous. of dolls. _ 346, 184
thous. of dolls.. 446, 577
334, 000
373, 000
332, 323
365, 775
U. S. interest-bearing debt
mills, of dolls. _ 20, 789
Gross debt
_
. mills, of dolls .. 21,057
Customs receipts
thous. of dolls
46, 968
Ordinary receipts
_
thous. of dolls _. 171, 600
Total expenditures chargeable against
ordinary receipts
thous. of dolls.. 292, 457
20,658
20, 981
46, 190
173, 632
21, 521
21, 783
50, 207
206, 607
161, 286
208,432
21, 057
15, 672
18,120
14,713
CHEMICALS AND DRUGS
Wholesale prices:
Drugs and Pharmaceuticals
Essential oils
Crude drugs
index number..
index number
index number
Index of ocean rates, Atlantic ports to:
United Kingdom
weighted index number..
All Europe
weighted index number
Car load ings "(monthly totals):"
Total
thous. of cars..
Grain and grain products
thous. of cars..
Livestock
thous. of cars. .
Coal and coke
thous. of cars..
Forest products
thous. of cars..
Ore
thous. of cars..
Merchandise and miscellaneous.. thous. of cars..
DISTRIBUTION
NONFEKROUS METALS
Zinc:
Retorts in operation, end of month
number.. 86, 081
Production
thous. of Ibs.. 100, 772
Stocks end of month
thous. of Ibs. _ 37,992
Reshipments, Joplin district
thous. of Ibs.. 135, 648
•Grain movement:
ReceiptsWheat
Corn _
Oats
ShipmentsWheat.
Corn
Visible supplyWheat
Corn
Oats
Argentine grain:
Visible supplyWheat
Corn
Flaxseed
.Sugar, raw:
Meltings
Stocks at refineries
FebruFebru- ary, 1924
ary
TRANSPORTATION
Pig iron, production
thous of long tons
3,367
Furnaces in blast:
Furnace
number _
251
Capacity..
long tons per day
114, 150
.Steel ingots, production
thous. of long tons
4,180
Unfilled orders, U. S. Steel Corp.,
end of month.
thous. of long tons
5,037
Wholesale price:
Composite finished steel
dolls, pei 100 Ibs
2.56
Composite pig iron
dolls, per ton..
23.24
Composite steel
..dolls, per 100 Ibs .
2.77
Locomotives:
Shipments—
Total
number
90
Domestic . . .
_
number
45
Foreign
number..
45
Unfilled orders—
Total
number
407
Domestic
number
351
Foreign,
..
number
56
Production
^Shipments .
Stocks
January
FOODSTUFFS—continued
TEXTILES
Cotton:
Imports, unmanufactured
bales.. 54,822
Exports, unmanufactured (including
linters)
bales 1,076,075
Consumption by textile mills _
bales
589, 725
Stocks, end of monthTotal, mills and warehouses.thous. of bales..
5,297
Mills
thous. of bales
1,434
Warehouses
thous. of bales
3,863
Silk:
Consumption
bales
39, 885
Stocks . _
bales
58, 732
ITEM
Mail-order houses, total sales.
Sears, Roebuck & Co
Montgomery Ward & Co
Ten-cent stores, total sales
F. W. Woolworth Co
S. S. Kresge Co
S. H. Kress Co
McCrory Stores Corp
U. S. foreign trade:
Imports
Exports
thous. of dolls..
_.thous. of dolls..
thous. of dolls..
thous. of dolls..
thous. of dolls..
thous. of dolls. .
thous. of dolls..
thous. of dolls..
i
PUBLIC FINANCE
BANKING AND FINANCE
Bank clearings:
New York City
Outside New York City
Federal reserve banks:
Total investments
Bills discounted
Notes in circulation
Total reserves
Total deposits
.
Reserve ratio
Member banks:
Total loans and discounts - Total investments
Net demand deposits
Interest rates:
New York call loans
mills, of dolls.. 26, 721
mills, of dolls. . 18, 525
mills, of dolls..
mills, of dolls,.
mills, of dolls..
mills, of dolls. .
mills, of dolls..
.. per cent..
715
274
1,684
3,083
2,265
78.0
696
434
1,729
3,030
2,270
75.8
419
532
2,022
3,230
1,986
80.6
mills, of dolls..
mills, of dolls..
mills, of dolls..
13,051
5,488
13,014
13, 143
5,396
12,932
11, 874
4,496
11, 165
per cent..
3.63
3.81
4.50
40, 123
15, 334
21,067
3,722
35,942
16, 478
17,598
1,865
1,793
409
1,285
99
1,730
398
1,250
82
76.07
85.82
75.12
70.63
74.61
46,739
76.82
86.37
76.00
71.26
75.16
32,750
72.15
82.79
68.72
66.27
72.86
20, 637
135. 38
79.97
138.48
80.90
111.83
60.47
.682
32. 197
.685
32. 245
.644
33.565
BUSINESS FAILURES
Liabilities:
Total commercial
thous. of dolls. - 54,354
Manufacturing establishments... thous. of dolls.. 11,909
Trade establishments..
..thous* of dolls.. 24, 665
17,790
Agents and brokers .
.
thous. of dolls
Firms:
Total commercial
number
2,317
480
Manufacturing establishments..
number. _
1,757
Trad P. establishments
tinrahp.r
Agents and brokers
number. .
80
STOCKS AND BONDS
Bond price indexes:
Combined index, 40 bonds p. ct. of par, 4% bond..
10 highest grade rails
p. ct. of par, 4% bond..
10 second grade rails
p. ct. of par, 4% btnd..
10 public utility bonds. ..p. ct. of par, 4% bond..
10 industrial bonds
p. ct. of par, 4% bond.
Stock sales
shares..
Stock prices:
25 industrials
.. .
. dolls, per share-25 railroads
dolls per share
GOLD AND SILVER
Silver:
Price at New York
Price at London
dolls, per fine oz..
pence per standard oz_.
26
FEBRUARY DATA—Continued
19 25
19 25
TToKrii
ITEM
January
February
ITEM
ary, 1924
(By Federal reserve districts)
(Relative to 1919 monthly average=100)
United States, 141 clearing-house centers..
133.4
99 9
122.0
128.8
121.7
105 9
118.5
111.5
115 9
118 5
99 3
113.9
136.3
136.0
137 8
167.3
136.0
113.6
111.9
106 9
135.2
112.6
98.1
124.1
104 2
111 7
97.7
133.7
132.3
157.9
148.6
109.5
108.0
127. 1
131.7
106 0
102.5
145.3
148.9
128.0
94 6
155.4
110 4
135. 1
134.2
180 4
126.4
162 6
104.4
73.3
121.9
86 5
114.7
96.6
146 2
104.0
125 6
102.2
70 0
116.6
89 4
105 7
95.0
148 3
104.3
126 0 i
106 9
101.6
90.2
126.5
86.9
'
110.8
151.8
162 3
144.7
129 0
137.1
.
February
ary, 1924
DEBITS TO INDIVIDUAL ACCOUNTS —continued
DEBITS TO INDIVIDUAL ACCOUNTS
BOSTON DISTRICT:
Total, 11 centers..
Boston .
HartfordProvidence
New Haven..
NEW YORK DISTRICT:
Total, 7 centers
Albany
.
Bufflalo
Rochester
New York
PHILADELPHIA DISTRICT:
Total, 10 centers
Philadelphia
Scranton
Trenton
_.
CLEVELAND DISTRICT:
Total, 13 centers
Akron
Cincinnati
Cleveland
Pittsburgh . .
Youngstown...
Toledo Columbus __
Dayton.
RICHMOND DISTRICT:
Total, 7 centers
Baltimore..
Norfolk
_
RichmondCharleston
.
ATLANTA DISTRICT:
Total, 15 centers.
Atlanta
Birmingham. ..
New Orleans
Jacksonville
Nashville
Augusta
CHICAGO DISTRICT:
Total, 21 centers
Chicago .
Detroit
Indianapolis
January
94 0
84.8
79.5
109.2
68.7
90 5 !
84 0
78.5
107 8
67.6
129.4
130 3
259.6
137.9
156 2
95.9
79.6
105. 2
113 7
197.5
100.4
148.9
79.1
78. 5
102.2
104 9
174 6 !
112. 5
118 7
72 0 I
75.7
129 4
127.5
144.4
133 3
105 6
103.0
122.5
99.5
98 5
92 2
125.3
108 1
!
CHICAGO DISTRICT— Continued
Milwaukee.
Des Moines
Grand Rapids
Sioux City
ST. Louis DISTRICT:
Total, 5 centers
Louisville
St Louis
Memphis
Little Rock
MINNEAPOLIS DISTRICT'
Total, 9 centers.
...
__
Duluth
Minneapolis
St Paul
Helena
Billings
KANSAS CITY DISTRICT:
Total, 14 centers
Denver
Kansas City Alo
Omaha
St. Joseph, Mo
Oklahoma City
Tulsa
DALLAS DISTRICTTotal 11 centers
Dallas
Houston
Fort Worth
SAN FRANCISCO DISTRICTTotal 18 centers
Los Angeles
_._
Portland Oreg
San Francisco
Seattle
Oakland, Calif
District totals corrected for seasonal variation:
United States, totalBoston district
New York district
Philadelphia district
Cleveland district
Richmond district
Atlantic district
Chicago district
St. Louis district
_ ._ ...
Minneapolis district
Kansas City district
Dallas district
San Francisco district
125.7
93.1
116.0
160.2
110.0
78.8
90.1
135.2
111. 0*
79.5
77.3
117. 4
135.4
129.8
131.4
131.3
214.6
111.4 113.8
107.4
102.0
175.1
101. 7
102.6
98.6
94.9
158.8
111.0
88.8
119.9
108.5
93.8
82.6
96.7
78.0
107.0
90.5
69.3
66.0
79.3
60.0
79.4
90. 1
81.8
77.8
98.4
125.8
89.5
81.4
91.0
131.0
94.7
83.2
105.1
77.3
70.2
68.5
111.8
92.0
76.2
100.0
70.7
62.1
65.9
95.6
84.1
126.5
147.1
109.7
99.9
110.0
126.5
104.7
77.1
94.8
104.3
82.6
69.6
142.5
260.7
84.8
121.0
95.3
233.3
130.7
237.3
74.2
123.5
83.1
182.8
129. 4
251. 9
84.5
107.1
75.2
193. 6
127.8
142.9
129.2
130.8
123.0
103.1
119.3
127.1
126.2
110.3
95.2
118.1
143.8
128.8
141.9
132.9
127.6
120.3
109.7
118.5
121. 0
123.4
121.8
94.8
124.9
156.0
116.2
129.7
114.7
123. 5
117.7
105.6
115.1
112.8112.6
99.9
86.8
107.6
154. 4
27
NEW MISCELLANEOUS DATA
INDEX NUMBERS OF AGRICULTURAL EXPORTS
(Monthly average, July 1909-June, 1914=100) »
MONTH
ALL COMMODITIES
1919
January
February
March
April.
_
1920
1921
1922
ALL COMMODITIES EXCLUDING COTTON
1924
1923
1925
154
125
157
118
153
128
118
111
118
104
131
127
112
101
97
87
147
233
138
139
122
98
102
83
132
143
158
192
120
133
116
123
83
79
73
89
..
110
122
173
158
97
143
141
168
164
153
119
121
126
153
148
120
132
135
127
139
_
September
October
November
December
MONTH
149
118
105
95
87
. ..
May
June
July
August
154
136
158
183
1919
1920
1921
1922
1923
1924
236
234
275
351
186
173
220
174
244
206
205
200
186
180
219
185
172
168
167
154
76
71
67
92
260
416
224
237
217
183
199
168
219
243
257
370
192
218
203
238
164
144
138
161
117
124
117
162
158
204
194
161
214
218
229
205
183
224
201
243
287
193
156
164
224
206
184
166
176
168
153
167
149*
174
157
160
144
229
298
209
178
.
MERCHANT PIG IRON PRODUCTION » %
Unit: Long tons
1925
1913
1914
1915
1916
1917
1918
1919
813,771
794,183
485,477
437,391
512,752
532,383
934,086
903,367
972, 575
911, 000
906, 735
815,401
965,922
964,023
655,560
699,045
863, 672
876, 723
872,
730,
812,
639,
1920
Source: Iron Age
1921
1922
1923
1924
1925
726
200
239
255
484,133
311,562
272,079
177,420
338, 906
318, 821
405,938
384,212
749, 877
735, 033
799, 563
845,376
744,885
664,099
791, 521
770,401
677, 799674,358
January..,
February..
March
April
813,010
623,624
559,256
643,179
634, 729
May
June
July....
August-
831,025
768,495
720,430
710,411
634,839
588,160
561, 794
540, 207
569,180
610,170
613,670
677,829
952,183
915,804
918,210
890, 591
1,012,960
965, 900
972,808
1,033,434
932,835
916,625
964,295
880, 228
521, 251
458,919
521,937
634,822
856,962
833, 770
836,476
892,459
196,543
181, 521
148,891
147,049
427,499
484,995
474,227
890,802
'949,237
925, 596
768,642
687, 649
519,111
440,947
473,831
September...
October
November...
December...
677,695
697, 627
660,116
685, 345
492,255
506, 366
459,157
480,950
723, 239
844,035
838,849
920,275
892, 656
978,043
907,601
884,031
935, 249
926,449
856,249
788,259
892,664
852,207
908,823
659,352
567,868
664,694
717,019
882,073
898,953
784,833
656,688
169, 837
212,364
276, 692
372, 705
418,024
589,971
684,408
756, 353
761, 545
754,236
723, 728
753,419
543,904
618, 625
612, 787
584, 561
Total..
», 030, 793
782,
797,
895,
771,
238
690
736
541
724,516 | 7,765,25011,060,147 11,143,389 10,353,566 | 7,801,067 9,888,634 2,950, 796 5, 663,692 9, 657,054 7,452, 321
FABRICATED PLATE BOOKINGS *
ARSENICS
Unit: Short tons
MANUFACTURERS' STOCKS
OF RAW SILK 3
CRUDE
MONTH
TOTAL
OIL STORAGE TANKS
Unit: Tons
Unit: Bales
Unit: Tons
1923
1924
1925
1924
1924
1923
1924
19,675
15,498
26, 575
38,917
4,012
4,349
1,507
1,369
1,566
1,819
2,393
2,194
1,963
2,152
873
888
1,223
1,014
1,901
1,399
1,791
1,656
677
590
627
429
1,101
1,169
1,624
1,856
5,137
15,816
11,360
15,927
1,746
1,761
1,726
1,502
2,448
2,866
3,049
3,222
1,040
1,094
1,083
664
1,487
1,486
1,622
1,674
532
377
332
685
2,056
2,164
2,685
3,755
10, 286
7,868
13,098
26,449
1,323
1,129
1,280
1,240
3,448
3,475
3,730
4,151
667
1,139
1,528
1,646
1,385
1,224
1,467
1,141
901
751
1,435
1,573
4,708
5,181
6,245
6,676
123,445
17,968
12. 859
18,233
1923
1924
1923
Jan'iiry...
February.
March
April
13,830
12,443
11,343
13, 533
18,426
14,066
14,917
15,194
20,466
20,800
20, 727
20,105
20,491
20, 311
17,820
19, 616
68, 228
21, 057
19,099
41,144
20,924
2,393
4,757
6,342
May
June
July
August..
16,331
17,331
18,020
13,046
12,266
12, 674
12,603
17,809
15,307
16,253
16,140
18, 078
16,833
17,360
18,971
34,162
56,031
55,242
33,138
24,872
28,511
21,248
30,641
16,511
38,351
34,330
15,498
September..
October
November..
December...
15,483
13, 654
15, 680
15, 380
14,191
17,314
17,871
19, 546
19, 031
18, 202
19,129
17,842
21,471
22, 667
25,043
36, 267
19,402
23,634
Total.
Stocks
1925
1922
54,321
Production
1924
1921
60,382
55,927
Produc- Stocks
tion
REFINED
31,603
25,445
23, 237
33, 607
22, 059
48,850
532,805
305, 697
15, 589
9,503
6,718
1923
1924
i Compiled by the U. S. Department of Agriculture, Bureau of Agricultural Economics, to show the variation in the quantity of exports of agricultural produce as a whole.
The index of "all commodities" includes 44 selected commodities, comprising usually about 75 per cent of the value of agricultural exports from the United States. These
iiuita aiiu vegeuciuieo, aiiu tiouuuuuai ouuwiiag au uuuuinuuinea, cAuiuumg uuttuu, wiiiuii, ueuause ui its sump uivergtmue iro.ui tue an uoiiiiiiouiues uiuex. aiiu. ratiiei uiustr
similarity to the individual groups above mentioned, is given in the above tabulation. For further details see the monthly supplement to Crops and Markets for October,
1924 1(pp. 356-358), issued by the Department of Agriculture.
Compiled from data reported by the Iron Age by subtracting the figures on pig iron produced by steel mills from the total pig-iron production figures, thus obtaining
data on the total output of merchant pig iron.
' Computed from data reported by The Silk Association of America, covering from 35 to 60 per cent of the silk manufacturers and throwsters, averaging about 45 per cent
for most of the year 1924. Owing to the varying number of mills reporting, the original figures have been prorated up to 100 per cent, by dividing the stocks reported by
the percentage of the trade which they are estimated to represent. The maximum reporting capacity (60 per cent in April and May, 1923), coming immediately after a month
of minimum reporting capacity (35 per cent in March, 1923), indicates in the close correspondence of these prorated totals, that the prorating shows the situation quite
accurately.
* Compiled by the U. S. Department of Commercet Bureau of the Census, from reports of 30 identical firms. Data for other classifications included in the total covering
refinery equipment, tank cars, gas holders, blast furnaces, and miscellaneous, including stocks and ladles, but not separately shown, are given on press releases issued by
the Bureau of the Census.
8
Compiled by the American Bureau of Metal Statistics. Figures on crude arsenic cover this element in its primary state while those on refined arsenic cover this commodity as derived from the crude.
28
PRODUCTION OF ELECTRIC POWER AND CONSUMPTION OF FUELS BY STREET RAILWAYS, MANUFACTURING PLANTS,
AND RECLAMATION PROJECTS'
1920
1921
1924
1923
1922
Total
__ _
1921
1922
1923
1924
CONSUMPTION OF FUELS
PRODUCTION OF ELECTRIC POWER (M KW.H.)
MONTH
January
February
March
April
1920
Coal
Unit: 7*0715
September
October ..
November
December
_
Total
370, 703
329, 051
347, 213
310, 532
424, 015
389, 057
403, 914
354, 441
441,959
409, 822
409, 952
378, 336
538, 887
464, 642
471, 008
434* 128
475, 861
435, 178
431,911
389, 405
462, 994
413, 559
430, 661
387, 722
523,256
484, 271
502, 091
426, 183
507,999
464,556
457, 175
407, 913
319, 480
314,002
323, 522
320, 865
322, 501
322, 218
327, 208
329, 117
319, 380
321, 840
330, 876
333, 866
357, 505
355, 100
360, 810
367, 741
372, 199
350, 923
356, 551
352, 824
417, 587
417, 093
435, 557
504, 264
389, 605
382, 880
389, 686
397,385
397, 582
387,645
394, 985
394, 443
422,678
421, 252
421, 062
439, 973
399,030
384, 271
386, 930
379, 357
314, 980
330, 781
336, 345
373, 875
325, 306
343, 632
357, 799
409, 129
354, 009
379, 790
384, 739
410, 431
349, 328
370, 213
372, 616
435, 464
426, 942
436, 107
452, 505
489, 930
386, 032
394, 373
402, 982
458, 615
399, 288
432, 550
448, 969
514, 370
425, 432
460,808
463, 255
476, 066
371, 100
385, 833
393, 681
462, 110
4, 035, 871
__
350, 631
331, 053
339, 158
320, 053
305, 949
325, 543
334, 253
362, 556
_.
May
June
July
August
404,868
347, 957
351, 559
325, 317
3, 997, 920
4, 099, 327
4, 541, 552
4, 600, 187
5, 488, 650
4, 933, 913
5, 064, 768
5, 466, 327
4, 999, 955
By fuels
MONTH
January
February
March
April
_
Oil
Unit: Barrels
389, 963
335, 175
336, 068
303, 786
337, 172
318, 735
324, 196
300, 929
356, 524
316, 133
330, 224
290, 969
406, 738
375, 187
386, 879
333, 766
415, 766
388, 503
383,401
342, 630
70,931
41, 394
36, 176
36, 298
61, 714
41, 055
45, 792
49, 115
46, 495
43, 113
45,564
40, 265
75,311
62, 367
65, 850
59, 809
67,884
52,001
48, 145
46, 255
May
June
July
August .
296, 894
292, 262
302, 954
302, 257
304, 024
302, 142
308, 404
312, 773
297, 535
299, 852
311,210
314, 790
331, 831
334, 258
339, 276
350, 541
336, 751
323, 212
333, 183
327, 764
35, 981
35, 627
39, 750
36, 852
49, 509
52, 242
57, 663
58, 458
47, 868
70, 426
96, 071
126, 164
62,264
61, 522
64, 103
67, 023
46,296
37, 710
41, 520
41, 533
September
October
November
December _
289, 765
310, 341
319, 455
347, 088
302, 121
318, 425
324, 068
359, 470
308, 188
329, 518
341, 434
394, 944
335, 408
362, 591
365, 837
385, 093
325, 326
340, 821
349, 084
411, 084
40, 694
37, 218
34, 096
34, 090
41, 926
58, 697
48, 357
47, 346
100, 046
88, 628
65, 950
59, 159
64, 473
59, 893
62, 306
59, 156
38, 752
39, 604
37, 748
45, 520
3, 826, 008
3, 812, 450
3, 891, 321
4, 307, 405
4, 277, 525
479, 107
611, 874
829, 749
764, 077
542, 968
.
. Total
MONTH
January
February
March
April
By water power
Gas
Unit: M cubic feet
14, 905
12, 782
15,491
21, 531
13, 459
12, 318
14, 962
19, 124
14, 179
12, 918
16, 989
19, 563
17, 277
13, 870
17, 035
20, 675
26, 193
21,319
26, 551
35,706
179, 538
171, 536
183, 249
214, 764
151, 390
139, 850
153, 681
166, 527
170, 456
154, 642
153, 378
147, 546
182, 861
152, 847
176, 968
184,657
188, 351
159, 454
163, 964
121, 103
May. .
June
July
August
22, 586
21, 740
20, 568
18, 608
18, 477
20,076
18, 804
16, 344
21, 845
21, 988
19, 666
19, 076
25, 674
20, 842
21, 534
17, 200
35, 448
27, 711
23, 368
25, 060
223, 887
228, 213
274, 689
179, 198
152, 876
184, 384
156, 549
164, 601
156, 939
141, 415
178, 100
252, 164
178, 538
193, 538
188, 168
182, 923
111, 028
103, 431
119, 804
108, 252
September
October.
November.
December
Total..
16, 184
15, 202
14, 798
15,468
12, 859
12, 356
12, 277
14,405
17, 118
14, 114
16, 365
14, 185
18, 601
17, 199
18, 902
25, 338
24,002
29, 392
23, 532
24,380
259, 118
238, 186
214, 944
237, 277
165, 476
170, 377
180, 214
185, 081
229, 367
199, 773
207, 888
187, 798
181, 159
183, 818
168, 705
171,772
94,054
100, 210
95,666
84,141
209, 863
185, 461
208, 006
234, 147
322, 662
2, 604, 599
1, 971, 006
2, 179, 466
2, 145, 954
1, 449, 458
_
1
Data segregated by the U. S. Department of Commerce, Bureau of the Census, from the original records of reporting firms on file with the U. S. Department of the
Interior, U. S. Geological Survey covering the production of electric power and the consumption of fuels by central stations, street railways, manufacturing plants, an d
reclamation projects. In the April number of the SURVEY it is planned to show the corresponding data for central stations alone by subtracting the monthly data given
above from the corresponding monthly totals covering the total electric output and fuel consumption as regularly made available by the Geological Survey.
ELECTRIC RAILWAY TRAFFIC AND AVERAGE FARES1
THOUSANDS OF REVENUE PASSENGERS CARRIED
AVERAGE FARE (CENTS)
MONTH
1920
1921
1922
1923
1924
January
February
March _ .
April
376, 835
342, 319
388, 561
387,388
372, 308
337, 030
376,509
359, 974
353,806
322, 678
364,407
356, 271
380, 728
346, 224
396, 496
375, 031
389, 335
369, 763
392, 576
379, 144
7.46
7.45
7.45
7.44
7.46
7.45
7.38
7.43
7.13
7.11
7.11
7.11
6.95
6.94
6.97
6.95
May
June
July..
August
402, 244
388, 424
387,567
386,413
368, 914
354, 942
351, 189
349, 944
371, 181
357, 753
356, 250
341, 594
387,490
370, 917
362, 346
334, 184
383, 145
355, 657
349, 747
347, 472
7.48
7.47
7.58
7.56
7.40
7.28
7.26
7.22
7.10
7.13
7.18
7.11
6.96
7.02
7.07
7.06
379, 555
385, 825
373, 070
391, 625
345, 871
361, 150
346, 720
370, 203
355, 707
372, 692
364,100
386, 795
338, 487
388, 264
372, 914
392, 213
349,005
369, 908
7.50
7.46
7.46
7.41
7.19
7.15
7.13
7.11
7.13
6.89
6.94
6.95
7.03
7.01
4, 589, 826
4, 294, 749
4, 302, 734
4, 443, 294
7.48
7.29
7.07
.
September ..
October
November
December
Year
1921
1922
1923
1924
* Data compiled by the American Electrical Railway Association from reports of 80 identical companies which in 1922 carried 34 per cent of the total electric railway
passenger traffic according to the census of electrical industries of that year.
29
TREND OF BUSINESS MOVEMENTS
The following table contains a summary of the monthly figures, designed to show the trend in important
industrial and commercial movements. These data represent continuations of the figures presented in the latest
semiannual number (February, 1925) in which monthly figures for 1923 and 1924 may be found in most cases,
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.
ACTUAL DATA
In many cases February figures are now
available and may be found in^the
special table on page 25
1924
1925
December
January
YEAR'S TOTAL
January,
1924
Per cent
RELATIVE NUMBERS
increase (+)
Per ct.
or decrease (—>
increase
(+)
BASE
or deYEAR 1923
1924
1925
Janucrease
OR
( )
Janu- ary,
PERIOD
ary
1925,
1924
from from
from
De- Janu1923
Dec. Jan. Oct. Nov. Dec. Jan. cember ary,
1924
1933
1924
11, 823
18,336
30, 159
30, 786
145, 132
271, 966
417,098
394, 251
200, 240
111, 775
312,015
267, 934
+38.0
-58.9
-25.2
-32.0
53, 845
641, 607
537, 760
-16.2
TEXTILES
Wool
Receipts at Boston:
Domestic
thous. of lbs._ 16, 629
Foreign
thous. of lbs_. 12,831
Total
thous. of Ibs.. 29,460
Imports, unmanufactured
thous. of Ibs.. 31, 873
Consumption by textile mills,
51,098
grease equivalent
thous. of Ibs
Stocks (quarterly *)» grease equivalent:
Total
thous. of lbs._ 391, 248
Held by manufacturers
thous. of lbs_. 211, 515
Held by dealers
_thous. of lbs,_ 179, 733
Machinery activity, hourly:
77.8
Looms, wide
per ct of hours active
70.0
Looms, narrow
per ct. of hours active..
Looms,
76.2
carpet and rug. .per ct. of hours active..
92.3
Sets of cards
per ct. of hours active
92.4
Combs
per ct of hours active
Spinning spindles92.1
Woolen
per ct of hours active
77.5
Worsted
per ct. of hours active..
Machinery activity (percentage of total):
Woolen
84
spindles
per ct. of active to total..
Worsted
75
spindles
per ct. of active to total..
76
Wide looms
per ct. of active to total
74
Narrow looms.. .per ct. of active to total..
81
Carpet looms per ct of active to total
Prices:
Raw, Ohio,
.70
24 blood, unwashed
dolls, per lb__
Raw, territory fine,
1.68
scoured
dolls, per Ib
1.950
Worsted yarn
dolls, per lb..
1.035
Wool, dress goods
dolls, per yd..
3.690
Men's suitings
dolls, per yd..
3,418
35, 569
38, 987
47, 504
25
-79.4
1913
1913
1913
1913
115
94
109
93
88
347
161
243
82
87
83
132
91
200
122
130
123
243
157
252
674 +177.2
208 +32.3
375 +49.0
110
116
117
-71.1
+94.0
+29.3
+54.3
+0.7 -4.5
-8.1 -13.5
-5.7 -7.0
-10.9 -20.4
-1.8 +4.7
+1.8
+6.7
+2.7 +4.S
0.0 +5.7
-3.8 -1.0
-4.7 +1.7
-2.1 +4.5
1921
103
122
124
1920
1920
1920
90
122
73
79
117
58
74
115
52
76.3
71.5
415, 681
214, 527
201, 154
*
*
72.8
67.3
1921
1921
103
103
106
105
107
102
112
112
113
110
111
112
78.3
92.1
88.9
75.0
87.1
89.6
1921
1921
1921
139
122
93
146
122
101
140
128
110
152
129
108
149
129
104
153
129
100
87.8
75.8
86.4
72.8
1921
1921
112
91
120
89
126
96
124
93
128
95
122
93
81
81
1913
105
105
108
108
109
105
-3.7
0.0
75
75
75
80
73
73
81
82
1913
1913
1913
1913
104
99
108
126
99
99
111
121
101
97
104
113
104
103
107
116
101
103
101
119
101
101
103
118
0.0
-1.9
+2.0
-0.8
+2.0
+2.0
-7.2
-2.5
1913
204
208
228
244
280
276
1913
1913
1913
1911-13
235
212
184
239
240
219
184
239
260
225
184
239
282
238
184
239
295
251
184
239
293
245
184
245
-1.4 +32.7
-0.6 +21. »
-2.6 +11.8
0.0
0.0
+2.4 '+2.4
51,435
359, 612
199, 455
160, 157
.69
.52
1.67
1.900
1.035
3.780
1.37
1.700
1.035
3. 690
68
108
46
Cotton
9,944
13, 308 +33.8
Oinnings (crop year to Jan. 16) thous. of bales
13, 264 +18.3 ! 1913
11, 216
142
75 233 230 206 115 -44.4 +53.9
2,478
1,379
896
Receipts into sight
thous. of bales..
-14.3
86 240 270 +12.7 +14.9
321,022
1913
374, 730
89
54,822
47, 693
173 235
Imports, unmanufactured
bales.. 48, 663
Exports, unmanufactured
1913
116
75 130 180 148 148
0.0 +96. S
546, 853 5,279,165 6,795,490 +28.7
(including linters)
bales 1,075,923 1, 076, 075
1913
+1.&
578, 468 6, 521, 322 5, 512, 235 -15.5
100 124 114 106 114 127 +10.8
Consumption by textile mills.
bales.. 532,047 589, 725
Stocks, end of month:
+15.1
1913
167 149 161 193 193 172 -10.9
4,602
5,943
5,297
Total, mills and w'houses .thous. of bales..
54
97 105
1913
77
+8.7 -12.5
1,434
120 120
1,319
1,638
' Mills
thous of bales
1913
204 172 245 285 268 224 -16.5 +30.3
4,624
2,964
3,863
Warehouses
thous of bales
World visible,
1913
-1.7 +55.8
98 109 140 155 153
4,722
110
4,805
3,030
American
thous of bales
+0.2 +30.2
97 118 133 133
5,821
4,477
1913
105 102
5,830
World visible, total
thous. of bales..
Machinery activity of spindles:
1913
+1.6
-o.a
32, 662
111 109 102 104 107 109
33, 181
33,280
Active spindles
thousands
92 101 110
1922
+8.6 +0.5
92 109
98
7,817
8,448
8,493
Total activity
millions of hours
0.0
99 107
90
1922
+8.7
224
91 107
91
206
224
Activity per spindle
hours..
+6.6 +0.9
90.4
95.5
96.4
Per cent of capacity
per cent
Cotton finishing:
Orders received, grey yardage—
94
94
91
-0.2
-2.8
913, 262 -16.8 21921
96 100
84,459
90
86,888 1,098,051
thous. of yds.. 84, 652
Billings, finished goods (as
89 107
95 -11.6 -12.4
931, 795 -18.3 21921
92, 714 1, 141, 181
81, 174
111 109 102
produced)
thous. of yds.. 91, 686
87 104 110
502, 350 -13.0
21921
104 121
99
+6.0 -9.2
577, 386
54,291
49, 319
Shipmentsfinishedgoods
cases. . 46,531
21921
-23.1
137 133 112 115 116 102 -12.4
48,007
42,162
36, 925
Stocks finished goods
cases
95
89 103
1921
-7.8 -16.7
74
97 114 103
62
67
Operating activity
per ct. of capacity ~
Manufactured goods:
94
464, 462
478, 297
+3.0 «1913
77 143 127 118 140 +18.6 +82.2
28,444
51, 819
Cotton cloth exports thous. of sq. yds.. 43,698
Fabric consumption
142, 415 +20.3
1921
118,338
125 175 197 182 182 184
11,706
12,311
by tire manufacturers
thous. of lbs_. 12, 172
+1.1 +5.2
72
84
156. 488
74
71
60
128. 771 -17.7 ! 1919
• 8. 752
Elastic webbine sales
thous. of vds.. 10.478
* In the December column are shown data for quarter ending September, 1924, and in the January, 1925, and January, 1924, columns data for quarters ending December*
1924,2 and December, 1923, respectively.
Eleven months' average, January to November, inclusive.
3 Twelve months' average, July to June, inclusive, ending the year indicated.
« December, 1923.
30
TREND OF BUSINESS MOVEMENTS—Continued
ACTUAL DATA
In many cases February figures are now
available and may be found in the
special table on page 25
1924
1924
Per ct.
increase
(+>
or decrease
(-)
1924
from
1923
4,246,217
3, 359, 785
-19.4
-18.8
YEAR'S TOTAL
1925
January,
1924
December
Janu-
399, 228
329, 319
419, 904
459, 252
.240
.238
.446
.068
.108
.227
.240
.437
.069
.108
.325
.347
.552
.077
.129
7,685
thous. of Ibs..
bales . . 33, 961
61, 533
bales
6.321
dolls, per lb_.
6,633
39, 885
58, 732
6.076
5,304
32, 925
44, 398
7.350
ary
1923
Per cent
increase (+)
or decrease (—)
RELATIVE NUMBERS
BASE
TEAK
OK
PERIOD
1923
1924
1925
JanuJanu- ary,
ary
1925,
from
from
DeDec. Jan. Oct. Nov. Dec. Jan. cember Januaryf
1924
TEXTILES— Continued
Cotton— Continued
Fine cotton goods:
Production
.pieces..
Sales
- - . pieces..
Prices:
Raw cotton to producer
dolls, per lb__
Raw cotton, New York
dolls, per lb..
Cotton yard
dolls, per lb—
Print cloth
.dolls, per yd_.
Sheeting
dolls, per yd..
Cotton goods (Fairchild) index number
Raw Silk
Imports
Deliveries (consumption)
•Stocks end of month
Price, Japanese, New York
Silk looms:
Broad
per ct.
Narrow . _
per ct.
Spinning spindles per ct.
of operation
of operation..
of operation ._
43, 674
28, 556
117
61
1913
1913
1913
1913
1913
1913
268 271
280 271
228 223
236 223
217 210
224 222
193 188 200
192 190 186
181 180 180
192 195 196
168 173 176
193 194 194
189
188
177
199
176
194
179
131
80
213
186
185
87
202
197
199
87
158
223
185
108
170
270
190
120
174
233
224
114
167
-13.7 +25.1
+17.4 +21.1
-4.6 +32.3
-3.9 -17.3
143
116
165
89
120
57
90
95
129
100
166
116
+28.8 +0.3
+16.1 +30.4
62,031
358, 417
60, 269
365, 937
-2.8
+2.1
600,062
319, 357
575, 654
296, 292
•
-4.1 1909-13
-7.2 1909-13
1913
U920
1920
1913
121
56
104 109
74 103
1919
1919
100
56
104
102
+5.2
+39.5
-9.6
+83.4
-5.4
+0.8
+2.0
+1.5
0.0
0.0
-30.2
-30.8
-20.8
-10.4
-16.3
-12.6
« 72. 3
«48.7
«68.6
81.5
51.2
78.0
Burlap and Fiber
Imports:
Burlap
thous. of lbs_.
Fiber (unmanufactured)
long tons..
464, 408 5,265,132
250, 360 4, 138, 367
56, 240
33,142
56,049
25,422
9
Pyroxylin Coated Textiles
2,021
2,912
1,941
Pyroxylin spread
thous. of Ibs..
Shipments billed
_
linear yds. _ 1,467,414 1, 850, 129 2,073,067
Unfilled orders, first of month
linear yds.. 1, 446, 428 1, 496, 716 2, 367, 131
-4.0
+26.1
+3.5
Hosiery
Production
.
Shipments
Stocks _
New orders
Unfilled orders
thous. of dozen pairs..
thous. of dozen pairs.
thous. of dozen pairs -.
thous. of dozen pairs. _
thous. of dozen pairs..
-33.3
-10.8
-36.8
.
3,402
3,434
5,752
3,907
6,673
3,538
3,302
5,536
4,304
7,316
3,801
3,308
6,432
3,100
7,277
36, 360
29,014
7,346
4,542
2,962
31, 154
24, 430
6,724
5,242
3,367
33, 991
26, 453
7,538
4,688
3,019
251
228
95, 539 * 114, 150
62.3
56.6
248
101, 435
60.2
14, 471
63.00
17, 663
13, 083
« 014, 571
57. 60
« 23. 938
« 11, 534
+4.0
-6.9
-3.8 -0.2
-3.8 -13.9
+10.2 +38.8
+9.6 +0.5
METALS
Iron Ore and Pig Iron
Iron ore:
StocksTotal
thous. of tons. _
At furnaces
_ .thous. of tons..
On Lake Erie docks.. .thous. of tons..
Consumption
thous. of tons
Pig iron production
thous. of long tons..
Furnaces in blast:
Furnaces
number..
Capacity
long tons per day..
Per cent of total
per cent..
Ohio gray-iron foundries:
Meltings
long tons.
Meltings
per cent of normal
Stocks ...
long tons..
Receipts
long tons
Wholesale prices:
Foundry No. 2,
Northern
dolls, per long ton
Basic Valley furnace, .dolls, per long ton..
Composite pig iron
dolls, per long ton_.
Malleable castings:
Production
tons..
Shipments _
....
tons.
Orders booked
_
tons..
Operating activity
per ct. of capacity..
22.96
20.90
22.32
24.14
21.88
23.24
62, 829
55, 672
58,047
58.6
45, 991
31, 088
111
119
100
117
118
136
150
108
87
97
132
147
107
92
98
119
130
98
113
116
102
110
89
130
132
-14.3 -8.3
-15.8 -7.6
-8.5 -10.8
+15.4 +11.8
+13.7 +11.5
86
• 112
92
121
68
97
76
106
85
114
93
136
+10.1 +1.2
+19.5 +12.5
+10.1 +3.5
1922
1922
1922
1922
120 168
111 144
107 105
140 192
126
124
91
152
133 119
121 122
114
79
191 159
1913
1913
1913
148
143
148
133
129
132
133
130
134
1913
1913
-7.2
245, 968
228, 164
193, 336
174, 610 "-9.T
24.16
21.20
23.18
55, 028
48,281
53,297
51.2
62, 296
40, 059
127
138
106
111
114
81919-20
«1919-20
1913
-26.2 51919-20
—22.4
1913
64,379
66, 479
73,964
58.6
151
144
150
143
142
145
151
149
151
+5.1
+4.7
+4.1
-0.1
+3.2
+0.3
+14.2 -2.4
+15.3 -16.3
+8.9 -21. 5
+14.5
0.0
._ .
Crude Steel
3,552
Steel ingots, production.. -thous. of long tons..
» 4, 180
3,634
36, 645
43, 486
Steel castings:
82, 922
96, 164
51,406
Total bookings
short tons
772,840
894, 780
53, 332
Railroad specialties
short tons
40, 799
19, 572
388, 357
386, 939
42, 123
Miscellaneous bookings
short tons . 42, 832
31, 834
507, 841
384, 483
Unfilled orders, U. S. Steel Corp.,
5,037
4,817
end of month
thous. of long tons
4,798
Sheets, blue, black, and galvanized:
259, 794 317, 424
274, 097 2, 671, 916 2, 638, 026
Production (actual)
short tons
82.6
Production.. __ _ .per ct. of capacity. _
87.2
98.0
229, 573 283, 645
228, 660 2, 769, 874 2, 511, 948
Shipments
short tons
234, 858 2, 562, 997 2, 700, 287
Sales. _ _
_ _
_ short tons.. 350, 868 241, 040
663, 460 607, 190
471, 053
Unfilled orders
short tons
Stocks117, 069
Total
. .
short tons. _ 131, 599 140, 823
49, 460
37, 541
Unsold
_
short tons.. 45, 743
1
Relative to 11 months' average, February to December, inclusive.
* Twelve months' average, June, 1919, to May, 1920.
-15.7
1913
113
144
123
123
141
166
+17.7
-13.6
+0.4
-24.3
1913
1913
1913
85
66
102
102
82
119
132
131
133
147
174
123
191
225
160
164
172
158
-13.8 +61.3
-23.5 +108. 5
+32.3
-1.7
1913
75
81
60
68
82
85
— 1.3
-9.3
+5.4
1920
1920
1920
1920
1920
1920
i 1920
91 160
81 120
110 133
248 167
65 68
144 131 151 185
109 110 114 135
133 127 133 165
157 329 249 171
40 77 96
88
93 105 106 106 118
790 672 764 744 818
« December, 1923.
6
Revised.
126
885
'+4.6
+15.0
+5.0
+22.2 +15.8
+18.4 +12.5
+23.6 +24.0
-31.3 +2.6
-8.5 +28.9
+7.0 +20.3
+8.1 +31.7
31
TREND OF BUSINESS MOVEMENTS—Continued
ACTUAL DATA
In many cases February figures are now
available and may be found in the
special table on page 25
1924
1925
December
January
YEAR'S TOTAL
January,
1924
1923
1924
Per cent
RELATIVE NUMBERS
increase (+)
Per ct.
or decrease (— )
increase
(+)
BASE
or deYEAR
1923
1924
1925
Janucrease
OR
Janu- ary,
(-)
PERIOD
ary
1925.
1924
from from
from
De1923
Dec. Jan. Oct. Nov. Dec. Jan. cember January,
1924
MET ALS-rC ontinued
Crude Steel— Continued
Wholesale prices:
Steel billets, Bessemer. dolls, per long ton..
Iron and steel
dolls, per long ton..
Composite steel
dolls, per 100 Ibs «
Compositefinishedsteel-dolls, per 100 Ibs. .
Structural steel beams.. .dolls, per lOOlbs..
1913
1913
1913
1913
1913
36.00
40.23
2.75
2.54
2.00
37.00
41.06
2.77
2.56
2.10
Exports (selected series)
long tons * 101, 889
Exports (total)
long tons . *» 129, 465
Imports
long tons.. 65, 511
Vessel construction:
Completed during month—
Total
. _. gross tons
15, 167
Steel seagoing
gross tons..
11, 690
Building or under contract, end of mo.—
Merchant vessels. thous. of gross tons..
183
Structural steel, fabricated:
Sales (prorated)
short tons
232,000
Sales
.per ct. of capacity
80
Shipments (prorated)
short tons
182, 700
Shipments.. __
per ct. of capacity
63
Steel furniture, shipments
thous. of dolls..
1,611
116, 715
141, 714
72, 921
216, 176
249, 125
26,064
1,625,311
2, 010, 779
719, 300
1,477,535
1, 813, 659
478, 142
15, 073
12,838
10,780
. 3, 719
289, 182
117, 291
210, 086
130, 849
155
163
176
167
166
155
164
176
168
166
139
147
156
148
129
138
148
156
150
126
140
153
160
153
131
144
156
161
154
139
-9.1
-9.8
-33.5
1913
1922
1913
68
108
95
94
149
98
58
95
140
42
75
115
45
78
247
51
85
275
+14.6 -46.0
+9.5 -43.1
+11.3 +179. 8
-27.4
+11.6
1916
1916
84
70
23
14
25
25
27
32
33
43
33
47
+39.8
-0.6
+9.8 +245.2
40.00
43.26
3.03
2.79
2.50
+2.8
+2.1
+0.7
+0.8
+5.0
-7.5
-5.1
-8.6
-8.8
-16.0
Iron and Steel Products
190
146
1916
13
12
14
15
15
15
+3.8
+30.1
165, 300
57
174, 000
60
1,653
203, 000
70
182, 700
63
1,592
2, 174, 550
2, 363, 500
+8.7
1913
1913
214
158
193
140
177
128
226
164
221
160
157
114
16, 834
17, 381
+3.2
1919
160
169
162
155
177
182
-28.7
-28.7
-4.8
-4.8
+2.6
-18.6
-18.6
-4.8
-4.8
+3.8
142
132
10
90
45
45
151
147
4
3,189
2,985
204
1,465
1,320
145
-54.1
-55.8
-28.9
1913
1920
1920
108
277
27
49
134
4
31
71
20
43
112
11
46
120
11
29 -36.6
41 -65.9
51 +350. 0
-40.4
-69.4
431
358
73
407
351
56
376
344
32
1920
1920
1920
29
41
5
28
38
7
35
45
15
30
37
15
33
40
17
31
39
13
-5.6
-2.0
-23.3
+8.2
+2.0
+75.0
5,661
5,365
296
79
79
0
8,365
7,831
534
68
68
0
5,041
5,007
34
92
66
26
74
54 48 70
122 86 78 113
6
11
8
9
505 521 416 358
818 891 718 618
75
13
0
0
+47.8
+46.0
+80.4
-13.9
-13.9
0.0
+65.9
+56.4
46, 508
45, 325
1,183
512
507
5
43, 655
42, 848
807
522
516
6
23, 552
22, 161
1,391
644
624
20
42 49
66
79
5
4
275 284
413 428
11 10
51 48
81 77
3
2
289 295
437 445
8 10
-6.1 +85.4
-5.5 +93.3
-31.8 -42.0
+2.0 -18.9
+1.8 -17.3
+20.0 -70.0
10,240
235
189
10, 312
78
52
6,404
38
137
94, 471
2,214
1,984
142, 791
2,558
1,417
+0.7 +61.0
-66.8 +105. 3
-72.5 -62.0
18, 475
1,695
8,150
103, 487
397, 738
320, 109
431, 656
304, 725
305, 581
421,918
416, 917
315, 684
569, 137
91
31, 732
57
27, 871
91
66, 492
466, 067
42, 763
2,204
522, 995
59, 815
2,213
537, 762
52, 844
2,798
1,293
1,145
2,247
1,181
946
2,447
1,071
1,081
2,708
17, 564
18, 378
13, 193
13, 635
4,350
62
67
3,057
54
50
3,380
42
42
38, 634
592
710
« 50, 352
« 42, 006
708, 429
554, 361
Railway Equipment
Locomotives (Bureau of the Census):
ShipmentsTotal..
_
number.
Domestic
_
number..
Foreign
number
Unfitted ordersTotal ._
.
_.
number
Domestic..
number-Foreign
...number..
Shipments (I. C. C.):
Freight cars, total
number
Domestic
number-Foreign
.
number
Passenger cars, total...
numberDomestic
number..
Foreign
number..
Unfilled orders (I. C. C.):
Freight cars, total
number
Domestic
number..
Foreign
number
Passenger cars, total
number __
Domestic
number
Foreign
number
Domestic orders (Railway Age) :
Freight, cars
number
Passenger cars
_
number
Locomotives
_
number. _
Total orders (Iron Trade Review) :
Freight cars
number
1919
1919
1919
1919
1919
1919
103 42
176 73
1
3
1084 484
1773 600
138 325
1919
1919
1919
1919
1919
1919
27
44
1.
781
1158
66
26
40
4
364
538
33
+51.1
+15.5
-28.6
1920
1920
1920
229
84
8
91
26
83
180
165
89
198
189
60
146
159
114
147
53
31
144, 425
+39.6
1913
101
78
47
121
176
16
1920
45
67
39
35
43
50
-16.3
-25.4
4, 832, 320
4, 553, 568
3, 768, 654
3,632,805
-22.0
-20.2
1922
1922
1922
155
135
139
151
123
154
85
102
89
103
79
108
144
125
117
110
119
114
-23.4
-4.5
-2.3
-26.9
-3.2
-25.9
1,464
730, 446
1,128
514, 279
-23.0
-29.6
1919
1919
31 39
62 126
44
111
45
70
39
60
24
53
-37.4
-12.2
-37.4
-58.1
1919
1922
1922
79
74
81
88
102
89
79
95
71
79
79
74
76
86
66
86
120
66
+12.2
+39.9
+0.4
-2.7
+13.2
-20.9
-24.9
-25.8
1919
1919
1919
58
106
47
65
84
45
60
89
37
53
79
34
78
89
38
71
73
41
-8.7
-17.4
+8.9
+10.3
-12.5
-9.6
42,594
623
698
+10.3
+5.2
-1.7
1913
1913
1913
109
58
112
120
53
98
116
71
163
124
68
158
154
78
156
108
68
116
-29.7
-12.9
-25.4
-9.6
+28.6
+19.0
728, 892
612, 064
+2.9
+10. 4 !
1920
68
89
1920
' Revised.
68
90
92
122
77
102
76
99
146, 790
144, 824
1,966
1,660
1,625
35
82., 205
80, 621
1,584
1,103
1,059
54
-44.0
-44.3
-19.4
-33.6
-34.8
+54.3
-90.8
-26.1
+3.0
0.0
-79.2
Machinery
Machine tools, orders
index number. _
Foundry equipment:
Sales
_ .dollars
Shipments
dollars..
Unfilled orders
dollars..
Stokers:
Sales
rmmhfir
Sales
-horsepower
Agricultural pump shipments:
Total.
..thous. of dolls..
Pitcher, hand, etc
number..
Power pumps
„ „ number
Steam, power, and centrifugal pumps:
New orders
thous. of dolls
Shipments
thous. of dolls..
Unfilled orders
thous. of dolls. .
Patents issued:
Total, all classes
number..
Agricultural implements
number. .
Internal-combustion engines
number _ .
Washing-machine sales:
Total
number..
Electric
number..!
56,576
46, 878
• December, 1923.
1
32
TREND OF BUSINESS MOVEMENTS—Continued
ACTUAL DATA
In many cases February figures are now
available and may be found in the
special table on page 25
1924
December
1925
Janu-
YEAR'S TOTAL
January,
1924
1923
ary
1924
738, 766
793,847
Per ct.
increase
( }
or t
decrease
(-)
1924
from
1923
Per cent
increase (+)
or decrease (— )
RELATIVE NUMBERS
BASE
YEAR
OR
PERIOD
1923
1924
1925
JanuJanu- ary,
ary
1925,
from from
De- JanuDec. Jan. Oct.' Nov. Dec. Jan. cember ary,
1924
NONFEREOUS METALS
Copper and Brass
Copper:
ProductionMines
short tons.. «> 68, 122
Smelter
short tons.. 75,333
Refined (North and South America)
316, 197
quarterly *
short tons
World production, blister
short tons.. 125, 748
Domestic shipments, refined. .short tons.. 58,968
Stocks (North and South America)—
Refined
_.
short tons.. 136, 434
Blister
short tons . 237, 756
Exports
thous. of lbs_. 96, 322
.1426
Wholesale price, electrolytic., dolls, per lb_.
Brass faucets:
890, 924
Orders received
number of pieces
Orders shipped
. number of pieces __ 335, 180
Tubular plumbing sales:
N*
Quantity
_. number of pieces __ 595, 729
452,401
Value
dollars
85
Lighting rods, shipments
..thous. of ft..
Tin
Stocks, end of month:
United States
World visible supply
Deliveries (consumption)
Imports
Wholesale price, pig tin
72, 272
82, 149
333,672
128, 868
66, 631
75,734
+6.1
+9.0
+5.5
+2.5
+7.5
340, 152
118, 781
51, 234
0
99, 226
.1471
« 155, 885
• 253, 380
68,888
.1240
799,721
1, 094, 688
+36.9
1913
1913
108
82
98
80
129
83
147
87
137
91
141
94
657, 616
676, 537
496, 535
362, 433
5, 745, 210
6,239,638
5,247,020
4, 575, 130
1923
1923
100
61
104
70
96
86
123
57
186
64
137
130
304, 015
251, 290
540, 768
425, 776
•46
2, 590, 900
2, 494, 185
5,275
3, 188, 979
2, 688, 653
4,850
-8.7
-26.7
+23.1
+7.8
-8.1
1923
1923
1922
170 250
139 205
8 12
81
71
26
143
130
13
276
218
14
70,154
154, 698
64, 125
145, 909
— 8. 6
-5.7
1913
1913
1913
1913
86
170
131
132
146
197
134
135
125
153
139
105
1, 015, 603
1, 062, 404
920, 981
1, 071, 692
-9.3
+0.9
1, 395, 008
1, 462, 160
+4.8
1913
1913
1913
82
161
92
75
172
100
68
147
95
73
148
66
long tons..
long tons
long tons .
.thous. of lbs._
dolls, per lb_.
2,844
25,088
4,085
11, 738
.5572
4,394
22, 949
7,155
19, 519
.5769
2,812
24, 372
4,895
12, 925
.4825
Retorts in operation, end of month, .number __
Production..
thous. of lbs__
Stocks end of month
thous. of Ibs
Ore shipments, Joplin district.. .thous. of Ibs. _
Price, slab, prime western
dolls, per lb..
81, 274
95,422
42,416
117, 618
. 0737
86,081
100, 772
37, 992
135, 648
.0774
78, 768
99, 418
81, 394
99, 724
.0643
Lead
* 45, 920
Production
short tons
Receipts of lead in U. S. ore
short tons.. & 42, 552
87, 197
Stocks, U S and Mexico
short tons
.0921
Price, pig desilverized (New York) dolls.perlb..
48, 310
47, 254
100, 925
.1017
36, 670
38, 485
100, 530
.0797
449, 390
502, 538
& 52, 464
1,046
564, 157
19, 155
483, 280
15, 235
-14.3
-20.5
2.09
2.23
3.39
8.51
3.64
8.71
7,400
3,809
296
7,924
1,494
272
-1.9
+8.5
+44.0
+18.6
141
121
+3.0
+3.2
-26.2
+101. 8
-49.0
-44. 5
108 147
169 203
158 112
98 123
228
185
196
204
+54.5
+75.2
+66.3
+56.3
-5.8
+46.2
+51.0
+19.6
77
165
52
81
174
47
+11.8
b 51, 914
980
+8.5
+8.5
-8.5
+3.5
+32.4
+86.7
-43.8
-41.0
Zin"
+5.9 +9.3
+5.6 +1.4
-10.4 -53.3
+15.3 +36.0
+5.0 +20.4
+5.2 +31.7
+11.1 +22.8
+15.7 +0.4
+10.4 +27.6
FUELS
Coal and Coke
Bituminous:
,
Production
thous. of short tons__ b 46, 228
1,090
Exports
. thous. of long tons..
PricesMine average,
2.06
spot
dolls, per short ton-Wholesale, Kanawha, f. o. b.
3.39
Cincinnati
dolls per short ton
8.14
Retail, Chicago. -dolls, per short ton..
Anthracite:
7,376
Production
thous. of short tons..
4,080
Stocks, distrib. points.thous. of long tons..
321
Exports
thous. of long tons..
Prices—
Wholesale, chestnut,
11.73
New York
dolls per long ton
Retail, chestnut,
14.42
New York
dolls per short ton
Coke:
900
Production, beehive.. thous. of short tons..
Production, by
3,067
product
.
..thous. of short tons..
56
Exports
thous. of long tons..
Price, furnace,
4.04
Connellsville
dolls, per short ton..
90, 214
-5.5
4,545
3,602
-20.7
132
95
176
181
1913
1913
95, 444
103
98
1913
121
140
154
181
166
181
1913
1921
1909-13
101
54
114
104
56
94
101
156
126
130
89
106
89
116
99
171
167
167
170
154
171
154
169
154
169
154
177
89
156
98
97
153
111
97
142
103
+12.3
-10.1
-1.0
-6.3
+1.5 -6.3
0.0 -6.9
.+4.5 -2.3
+0.3 -6.6
-6.6 +155. 0
-7.8 +8.8
11.75
11.47
1913
216
216
216
216
221 221
14.50
1913
208
208
203
203
207
206
+0.2
-0.6
+2.4
14.33
1,170
1,154
19, 380
9,668
50.1
1913
41
41
23
23
32
42
+30.0
+1.4
3,406
63
3,094
53
37, 598
1,102
33, 795
656
-10.1
-40.5
284
1913
1909-13 62
292
73
274
77
276
78
290
77
322
86
4.64
4.03
1913
169
165
128
132
165
190
1913
288
273
289
272
273
286
1913
1919
322
135
321
140
348
147
346
141
338
134
338
138
+4.7
-0.2
+3.2
1919
1913
223
567
227
425
270
328
271
448
274
394
290
.473
+20.3
Petroleum
Crude petroleum:
732, 407
59, 284
56, 455
Production
thous. of bbls.. 56, 617
Stocks, end of month337,419
Total (comparable)
thous. of bbls.. ^355,244 ^354,395
155
162
160
Days' supply
number. .
Tank farms and pipe
333, 742
lines
thous. of bbls.. b 351, 950 350, 209
*> 40, 995
43, 290
33, 873
Refineries
thous of bbls
82, 015
5,841
7,025
6,303
Imports
thous. of bbls..
Consumption714,316
62, 262
Total
thous. of bbls.. & 69, 122
66, 901
581, 238
Run to stills
thous. of bbls.. 57, 880
57, 333
51, 244
11,014
9,911
145, 765
Shipments from Mexico... thous. of bbls.. 11,443
1.244
1.195
Price, Kansas-Oklahoma... dolls, per bbl._
1.293
774
Oil wells completed
number..
883
994
1
In December column are shown data for the quarter ending September, 1924, and in
ending December, 1924, and December, 1923.
0
December, 1923.
* Revised.
1913
1909-13
707, 265
77, 776
-3.4
-5.2
1913
1913
1913
1913
1913
January, 1925, and January,
749, 828
646, 100
135, 704
+5.0
+11.2
-6.9
-1.2
+11.1 +10.1
+12.5 +18. 9'
+14.9 +15.1
+5.0
+5.0
-1.2
-0.5 +4.9
+5.6 +27.8
+11. &
-3.2 +7.5
293 286 297 294 317 307
-0.9 +11.9
170 170 185 183 192 190
-3.7 +11.1
628 459 463 519 530
109 133 134 130 128 "I§§" +8.2 +3.9
56 49
67 63 62
55 -11.2 +14.1
1924, columns, respectively, data for the quarter
33
TREND OF BUSINESS MOVEMENTS—Continued
ACTUAL DATA
In many cases February figures are now
available and may be found in the
special table on page 25
1924
December
YEAR'S TOTAL
1925
January
January.
1924
1923
1924
Perct.
increase
(
ort>
decrease
(-)
1924
from
1923
Per cent
increase (+)
or decrease (— )
RELATIVE NUMBERS
BASE
YEAR
OR
PERIOD
1923
1924
1925
JanuJanu- ary,
ary
1925,
from from
De- JanuDec. Jan. Oct. Nov. Dec. Jan. cember ary,
1924
FUELS— Continued
Petroleum— Continued
Gasoline:
Production
Exports
Domestic consumption
Stocks, end of month
Price, motor, N. Y
Kerosene oil:
Production
Domestic consumption
Stocks
Price, 150° water white
Gas and fuel oil:
Production
Domestic production
Stocks....
Price, Pa., 36-40 at refin
Lubricating oil:
Production
Domestic consumption
Stocks
Price, Pa., 600° fil., "D"
at refineries
thous. of gals.. 795, 613 831, 652
695,323 7,555,946 8,953,684
95, 518
thous. of gals.. 98, 701
837,613 1, 179, 006
85,946
500,421 6,685,036 7,765,635
thous. of gals.. 662,589 599, 785
thous. of gals.. 1, 179, 503 1,330,236 1,200,288
dolls, per gal-!l70
.150
.165
+18.5
+40.8
+16.2
1919
1919
1919
1919
1913
200 211
230 280
181 175
228 254
92 98
231
296
263
244
83
231
310
244
240
88
241
322
231
250
89
252
311
210
282
101
120
118
112
108
125
135
113
108
127
119
126
108
217, 768 2,348,934 2, 521, 109
135, 956 1,492,535 1,553,093
300, 265
.220
+7.3
+4.1
1919
1919
1919
1919
120
193
94
110
112
117
100
110
119
116
103
108
thous. of gals.. *1,199,093 1, 171, 402 1,062,892 12,074,193 13,450,970
thous. of gals.. 1,103,875 1, 169, 365 1, 032, 946 10,978,286 12, 267, 784
thous. of gals.. 1, 670, 509 1,619,688 1, 471, 544
.65
dolls, per gal-.57
*.61
+11.4
+11.7
1919
1919
1919
1919
168
166
195
108
167
180
189
110
183 178 189 184
191 177 193 204
207 211 215 208
106 106 117 125
1,154,928
756, 464
+5.2
+2.2
1919
1919
1919
139
112
150
134
145
151
138
130
154
135
147
150
148
127
159
146
111
166
1919
59
72
79
79
85
88
thous. of gals..
thous. of gals..
thous. of gals..
dolls, per gal..
243, 832
156, 286
338,826
.215
thous. of gals.. * 104, 391
thous. of gals.. 60, 264
thous. of gals.. 257, 336
dolls, per gal_.
247, 727
138, 004
378, 598
.215
103, 164
52, 717
268, 469
94, 535
»» 69, 142
243,005
.310
.320
.263
* 182, 055
«> 174, 855
«>7 f 200
212, 908
204,607
8,301
* 27, 374
» 25, 704
«> 1,670
28,004
26,464
1,540
31,852
20, 814
900
1,097,369
739, 938
+4.5
-3.2
-9.5
+12.8
+13.3
+1.6
-11.7
+11.7
0.0
-2.3
+5.9
-3.0
+6.6
-1.2
-12.5
+4.3
+3.2
+19.6
+11.1
+19.9
+10.8
+3.0
-16.9
+17.0
+15.3
+2.3
+3.0
-7.8
+6.2
-7.3
-61.2
-27.5
-28.0
-15.6
-8.6
-8.4
-10.7
-27.2
-46.2
-65.9
+13.8
+1.5
+26.1
-2.3
+10.2
+13.2
+10.1
+14.0
+9.1
-23.8
+10.5
+21.7
AUTOMOBILES
Production:
Passenger cars—
Total
number..
United States
number
Canada. ~.^^^ «_^ ^ ..number..
TrucksTotal
number—
United States
number..
Canada _ T
....number..
Shipments:
By railroads
carloads
Driveways _ .
number of machines
By boat
number of machines __
Exports:
Assembled—
Total
number of cars
Passenger cars
number of cars
Trucks
..number of cars
Foreign assembly
number of cars
From CanadaTotal
number of machines
Passenger cars.. number of machines..
Trucks
number of machines
Accessories and parts
dollars..
Accessories and parts
thous. of dolls..
Internal revenue taxes collected on:
Passenger automobiles and
motor cycles
thous. of dolls.
Automobile trucks and
wagons
thous. of dolls.
Sales of automobile accessories
and parts
thous. of dolls
293, 822 3,702,297
283, 981
9,841
3, 262, 307
-11.9
1919
1919
1919
203
213
189
148
132
154
30, 627
28,902
1,725
391,246
375,450
-4.0
1919
1919
1919
109
116
123
105
104
106
* 33, 817
* 22, 334
*349
46,474
41,489
1,024
471, 547
559,885
81,689
446,714
374, 681
55,663
-5.3
33 1
-31.9
1920
1920
1920
173 222
77 106
85 22
165
76
133
131 152
51 53
101 19
153
51
8
13,060
10,962
2,098
9,676
17, 474
14, 492
2,982
12, 791
15, 459
12,614
2,845
9,869
151, 896
127,035
24,861
106, 210
178, 121
151,064
27,057
142,346
+17.3
+18.9
+8.8
1919
1919
1919
1923
176
180
159
68
224
225
219
112
248 196
257 208
210 146
142 145
189
196
162
109
253
259
230
145
4,772
3,847
924
524, 413
4,799
5,174
3,732
1,442
285, 073
4,764
5,869
4,094
1,775
345, 803
6,140
56,655
70,020
43,883
57, 481
12,439
12,771
3, 535, 377 4,992,049
58, 974
73,630
-19.1
-23.7
+2.7
+41.2
+24.9
1919
1919
1919
1919
1916
372
343
544
96
150
307
251
636
119
173
236 304 250 271
213 267 236 229
370 521 331 517
138 91 180 98
156 160 135 134
8,586
6,599
11,457
106, 281
102, 125
-3.9
1920
137
164
107
64
123
95
361
592
1,258
10,912
10,334
1920
64
100
103
41
29
47
36, 294
33, 140
57, 537
772,037
554,857
-5.3
-28.1
1920
65
70
48
34
44
40
59, 152
38,956
.315
73, 692
42, 171
.318
49,080
37,786
.199
692, 699
367, 253
737,844
453, 846
+23.6
+6.5
1913
1921
1913
690
138
25
508
211
25
905 782
257 222
33 35
3,438
5,570
3,008
3,555
5,962
2,994
3,220
4,808
2,785
33,944
38,725
32,982
36, 569
1921
1921
1921
134
103
137
177
114
146
213
127
160
4,704
8,289
4,066
4,757
8,677
4,107
3,888
6,720
3,476
45,087
53,029
43, 555
50,074
1921
1921
1921
146
138
153
172
147
152
261 204 208 211
161 168 181 190
182 204 177 179
46
154
39
43
160
32
48
152
37
684
558
+14.1
+10.9
+17.6
+15.0
-18.4
678
525
-22.6
1921
1921
1921
90
64
127
135
66
85
136
63
101
18,831
19, 170
14,226
10,472
4,797
33, 608
11, 180
3,182
37, 539
11,807
4,156
31,048
+34.0
+33.8 +13.0
+32.2 +14.9
+42.1
+4.8
+8.4
-3.0
+56.1
-45.6
-0.7
-11.8
-8.8
-1&8
-17.6
-22.4
+32.2 +29.6
-23.1 -42.4
+64.0 -52.9
-8.7 -42.4
RUBBER AND TIRES
Crude:
Imports
thous. of Ibs...
Consumption by tire mfrs... thous. of Ibs..
Wholesale price, Para, N. Y.. dolls, per lb__
Pneumatic tires:
Production
thousands
Stocks, end of month
..thousands..
Shipments, domestic
thousands
Inner tubes:
Production
thousands.
Stocks, end of month .
thousands
Shipments, domestic
thousands
Solid tires:
Production
. thousands.
Stocks, end of month
thousands..
Shipments, domestic... .
thousands
RUBBER PRODUCTS
Kubber heels:
Production
thous. of pairs.
Shipments—
To shoe manufacturer s.thous. of pairs..
To repair trade
thous. of pairs..
Stocks, end of month
thous. of pairs..
Rubber-proofed fabrics:
ProductionTotal
thous. of yds..
Auto fabrics
.thous. of yds..
Clothing fabrics
thous. of yds..
Reclaimed rubber (quarterly):
Production1
...
.. ..tons
Stocks, end of quarter *
tons
Scrap rubber (quarterly):
1
Stocks at reclaimers
tons..
Consumption by reclaimers1
tons..
119
64
93
189
132
158
131
67
88
195
142
157
121
69
74
+24.6
+8.3
+1.0
+3.4
+7.0
-0.5
+1.1
+4.7
+1.0
-6.5
+3.9
-17.9
+50.1
+11.6
+59.8
+10.4
+24.0
+7.5
+22.4
+29.1
+18.2
-10.4
+5.3
-13.5
+1.8 +34.8
+6.8 -5.3
-33.7 -23.4
+11.7 +20.9
«2,664
• 1, 534
•551
987
497
490
16, 678
7,620
175
124
172
613 763
217 235
39 39
25,263
8,838
20, 241
+51.5 +24.8
+16.0
+11.1
41,273
37,136
+39.3 +24.3
31.344
22,498
25.223
fc
• December, 1923.
Revised.
1
In the December column are shown data for quarter ending September, 1924, and in the January, 1925, and January, 1924, columns data for quarters ending
http://fraser.stlouisfed.org/
December, 1924, and December, 1923, respectively.
Federal Reserve Bank of St. Louis
34
TREND OF BUSINESS MOVEMENTS—Continued
ACTUAL DATA
In many cases February figures are now
available and may be found in the
special table on page 25
1924
December
1923
1924
531, 784
48, 692
291,784
85,822
76, 236
356, 675
41, 113
185,617
52, 231
58, 117
-32.9
-15.6
-36.4
-39.1
-23.8
YEAB'S TOTAL
1925
January
Perct
ncrease
<•£
or decrease
(-)
1924
from
1923
January,
1924
Per cent
increase (+)
or decrease (— )
RELATIVE NUMBERS
BASE
YEAR
OB
PEBIOD
1923
1924
1925
JanuJanu- ary.
ary
1925,
from
from
De- JanuDec. Jan. Oct. Nov. Dec. Jan. cember ary.
1924
HIDES AND LEATHER
Hides
Imports:
39, 020
Total hides and skins
thous. of lbs__
3,543
Calfskins
thous. of lbs._
Cattle hides
thous. of lbs._ 22, 898
5,059
Goatskins
.
thous. of lbs__
4,207
Sheepskins
thous. of lbs._
Stocks, end of month:
Total hides and skins
thous. of lbs__ 283, 266
Cattle hides
thous. of lbs_. 241, 639
27, 840
Calf and kip skins
thous. of lbs._
13, 787
Sheep and lamb skins
.thous. of lbs__
Prices:
Green salted, packers' heavy native
.174
steers
dolls, per lb._
.209
Calfskins, country No. 1
dolls, per lb._
Leather
Production:
Sole leather. .thous. of backs, bends, sides__
1,362
Finished sole and belting. ... thous. of lbs__ 23,476
67, 895
Finished upper
thous. of sq. ft__
Oak and union harness
stuffed sides. _ 97, 990
Skivers
.. _
doz_. 40, 706
Stocks in process of tanning:
fe.. Sole and belting
..thous. of lbs_. 86, 888
Upper
thous. of SQ. ft
132, 351
Stocks, end of month:
Sole and belting
thous. of Ibs.. 124, 445
Upper
- -thous. of sq. ft__ 311, 074
Exports:
Sole
- -thous. of Ibs ..
2,182
6,535
Upper
thous. of sq. ft._
Prices:
Sole, oak, scoured backs,
heavy, Boston
dolls, per lb__
.480
Chrome calf, "B" grades.dolls. per sq. ft..
.480
34, 302
2,216
18, 636
7,411
4,524
22, 486
2,610
10, 528
3,291
4,006
292, 311
251, 758
27, 531
13, 022
1909-13
1909-13
1909-13
1909-13
1909-13
64
43
62
72
77
52
38
55
40
76
62
51
73
47
86
78
42
116
42
63
91
52
120
62
80
80
33
97
90
86
302,899
253, 454
33, 473
15, 872
1921
1921
1921
1921
73
75
66
56
70
75
57
48
59
63
48
48
62
66
47
46
66
71
48
42
68
74
47
40
+3.2 -3.5
+4.2 -0.7
-1.1 -17.8
-5.5 -18.0
.169
.215
.143
.158
1913
1913
74
80
78
83
88
103
95
107
95
111
92
114
-2.9 +18.2
+2.9 +36.1
1,286
22, 160
70, 249
102, 459
43, 868
1,373
23, 819
76, 340
129, 736
34, 597
1919
1921
1921
1919
1919
69
88
124
99
158
73
93
132
108
150
72
91
118
118
174
64
81
99
112
164
73
91
117
114
175
69
86
121
120
189
-5.6 -6.3
-5.6 -7.0
+3.5 -8.0
+4.6 -21.0
+7.8 +26.8
87, 907
138, 300
92,907
149,400
1921
1921
86
91
84
91
80
78
80
79
78
81
79
84
+1.2
+4.5
123,035
309, 319
172,898
387, 500
1921
1921
93
91
89
92
69
77
65
75
64
74
64
73
-1.1 -28.8
-0.6 -20.2
2,052
8,669
1,350
5,429
1913
1913
44
69
52
61
74
85
72
79
84
74
79
98
.500
.500
.440
.440
1913
1913
95
163
98
163
99
171
104
171
107
178
114
186
18, 732
328,932
936, 222
1, 627, 453
461, 548
17, 510
74, 239
14, 645
259, 974
769, 410
1, 249, 450
404, 315
22, 527
83, 787
-21.8
-21.0
-17.8
-23.2
-12.4
+28.7
+12.9
-12.1
-37.5
-18.6
+46.5
+7.5
-6.0
+32.7
+52. 5
-15.1
+77.0
+125. 2
+12.9
-5.4
-7.4
+52.0
+59.7
+4.2 +13.6
+4.2 +13.6
Leather Products
Belting sales:
324
441
Quantity
thous. of Ibs—
409
Value
-thous. of dolls..
548
757
686
Boots and shoes:
Production
thous. of pairs _. 24, 602
26, 068
26, 497
Exports
thous. of pairs..
569
512
381
Wholesale pricesMen's black calf,
blucher, Mass
-dolls, per pair
6.25
6.35
6.25
Men's dress welt, tan
calf, St. Louis
dolls, per pair
5.00
5.00
4.85
Women's black kid, Goodyear
welt, St. Louis
dolls, per pair..
3.90
4.00
3.85
Gloves:
Glove leatherProduction
number of skins . _ 513, 391 551, 681
626, 668
Stocks (tanned)—
In process
number of skins _ .1, 304, 152 1, 401, 895 1, 655, 307
Finshed
number of skins . 288, 157 257,567
572, 474
Gloves cutTotal
dozen pairs.. 156, 954 189, 555
194, 438
Dress and streetImported leather
dozen pairs.. 23, 926
35, 334
23, 591
Domestic leather
dozen pairs. . 21, 598
29, 612
32, 849
Work gloves..
dozen pairs .. 111, 430 124, 609
137, 998
-7.3
-9.4
5,389
9,995
4,246
7,230
-21.2
-27.7
1919
1919
45
41
62
55
48
42
43
38
46
40
58
50
+26.2
+25.2
351, 114
7,341
313, 229
6,312
-10.8
-14.0
1919
1913
82
63
96
45
112
66
92
59
89
68
94
61
+6.0 -1.6
-10.0 +34.4
1913
201 201
201 201 201 204
+1.6
+1.6
1913
153
153
154
158
158
158
0.0
+3.1
1913
142
142
142
142
143
147
+2.6
+3.9
+7.5
-12.0
+7.5
-10.6
-15.3
-55.0
+20.8
-2.5
j
+47.7 +49.8
+37.1 -9.9
+11.8 -9.7
PAPER AND PRINTING
Newsprint Paper
Production
short tons..
Shipments
short tons..
Consumption
short tons-Imports
.. - - short tons. .
Exports
short tons..
Stocks, end of month:
At mills
..short tons..
At publishers
short tons..
In transit to publishers
short tons..
121,053
122, 148
143,672
125,241
1,350
128, 784
126, 639
139,024
112,586
1,573
130, 435
124,888
131, 310
107,594
1,682
23,838
167,216
32,467
26,268
164,832
31,746
28,631
186, 598
40,000
530
161
12,032
644
131
11, 186
456
178
11, 258
1,488,800
1, 480, 307
1,832,052
1,308,671
16, 369
1,470,581
1,470,059
1,645,561
1,356,783
17, 144
-1.2
-0.7
-10.2
+3.7
+4.7
+6.4
+3.7
-3.2
-10.1
+16.5
-1.3
+1.4
+5.9
+4.6
-6.5
1919
1919
1919
1913
1913
103
102
97
630
52
114
109
92
587
47
113
113
104
623
47
103 106 112
106 106 110
102 101 98
614 684 615
40 37 44
1919
1919
1919
99
120
64
120
120
98
118
121
82
105
109
89
100
108
79
110
106
77
+10.2 -8.3
1 4 -11.7
-2.2 -20.6
1913
1913
1919
1920
72
89
117
91
56
86
114
97
98
45
128
96
111
88
110
85
65
78
122
98
79
64
114
+97.0 +128.9
-18.6 -26.4
-7.0
-0.6
Priiiting
Book publication:
American manufacture.—
no. of titles _.
Imported
no. of titles
Sales books, shipments..
thous. of books. .
Printing activity
weight indexed number ..
7,515
1, 3,48
137, 857
7,328
1,723
135, 118
-2.5
+27.8
-2.0
35
TREND OF BUSINESS MOVEMENTS—Continued
ACTUAL DATA
In many cases February figures are now
available and may be found in the
special table on page 25
1924
1925
December
January
YEAR'S TOTAL
January,
1924
1924
1923
Per cent
RELATIVE NUMBERS
increase (+)
Per ct.
or decrease (— )
increase
(+)
BASE
or de1924
1925
Janucrease YEAR 1933
OR
Janu- ary,
(-)
PERIOD
ary
1925,
1924
from from
from
De- Janu1923
Dec. Jan. Oct. Nov. Dec. Jan. cember ary,
1924
PAPER AND PRINTING— Continued
Boxboard
Operation
__
inchhours.. 7,268,584 8, 195, 945 8, 345, 277
Production
tons._ 165, 248 195, 427
177, 513
Orders received
-— tons.. 177, 691 196, 764
194, 637
Unfilled orders (end of month),
tons.- 107, 508 112, 495
110, 461
Consumption of waste paper
tons
158, 548
189,438
166,089
Stocks of waste paper (end of month) :
On hand
_tons_. 172, 412 164, 359 , 125, 962
In transit _
-.
tons_. 14, 329
14, 324
18,846 i
Unshipped purchases
tons_- 31, 620
34, 974
40,891
+12.8 -1.8
+18.3 +10.1
+10.7
+1.1
+4.6 +1.8
+19.5 +14. 1
-4.7 +30.5
+31.5 +31.6
+10.6 -14.5
Paperboard Shipping Boxes
Production:
Total
.._
thous. of sq. ft- . 321, 617
Corrugated
_
thous. of sq. ft-_ 248,956
Solid
fiber
thous. of sq. ft_. 72, 661
Operating activity:
Total
- per cent of normal..
75
Corrugated
per cent of normal-.
74
Solid
fiber
-per cent of normal __
76
Price index numbers:
Finished boardCorrugated
- index number __
Solid
fiber
index number. _
Raw materials—
85 test liners
index number _ .
Chip
index number -.
Straw
index number--
302, 291
228,084
74,207
295, 168
211,686
83, 482
71
70
73
113 130
137 142
67 108
146 147 142 133
172 174 167 153
97 95 94 96
72
68
85
3, 492, 430
2, 539, 852
952, 578
3, 680, 920
2, 774, 285
906, 635
+5.4
+9.2
-4.8
1922
1922
1922
-6.0
+2.4
-8.4 +7.7
+2.1 -11.1
-5.3 -1.4
-5.4 +2.9
-3.9
-14.1
..
1922
1922
106
102
105
99
101 108
93 99
1922
1922
1922
105
97
119
97
91
108
100 104 104 107
90 90 92 94
111 111 111 111
1922
112
—
108
100
111
102
+2.8
+2.0
+5.7
+3.0
+2.9 +10.3
+2.2 +3.3
0.0 +2.8
Other Paper Products
Rope paper sacks, shipments— index number __
Abrasive paper and cloth:
Domestic sales
reams..
Foreign sales
reams..
Folding boxes, orders
per cent of capacity-Labels, orders
per cent of capacity-
3
89
153 119
112
101
-9.8 +13.5
89 132
100 91
145 135
172 245
127 108
94 130
116 126
190 146
114 148
127 104
156
142
+29.9 +11.8
-17.4 +14.3
1909-13
1909-13
215 107
382 347
186 151 178 136
530 427 519 557
-23.1 +27.2
+7.4 +60.5
*36.4
* 14, 455
1922
1922
85 79
116 115
70 78 80
108 109 109
74
107
-7.5
-1.2
-6.3
-6.6
41.5
51.5
41.8
•1921
«1921
«1921
116 113
143 142
127 117
125 119 115 105
126 141 120 107
135 127 111 110
-8.7
-10.8
-0.9
-7.2
-24.9
-5.7
1919
1919
116 125
95 83
110
43
-8.0
+35.0
-36.0
-67.5
77, 429
11, 606
74.9
62.6
100, 565
9,582
89, 961
8,384
•69.3
°76 0
1,042,988
131, 310
948,029
121, 977
short'tons.. 29,228
short tons. 132,344
22,463
142, 119
17,660
88, 565
299,485
1, 114, 110
251, 152
1, 276, 784
36.8
13, 656
33.9
13, 496
42.1
43.6
39.5
38.5
38.7
39.4
-9.1
-7.1
1919
1919
1921
1921
Wood-pulp Imports
Mechanical
Chemical
_
-16.1
+14.6
BUTTONS
Fresh-water pearl buttons:
Production
per cent of capacity
Stocks, end of month
thous. of gross
GLASS AND OPTICAL GOODS
Illuminating glassware:
Net orders
per ct. of capacity
Actual production
per ct. of capacity
Shipments billed
per ct . of capacity _ .
Spectacle frames and mountings:
Sales (shipments)
index number _.
Unfilled orders (value) - -index number. .
87
38
87
20
80
27
BUILDING CONSTRUCTION AND
HOUSING
Rental advertisements:
Portland, Oreg
number. .
Minneapolis. Minn
_ . number
Building Costs (Index Numbers)
Building materials:
Frame house, 6-room, 1st of fol'g mo
Brick house, 6-room, 1st of fol'g mo _.
Building costs (Engineering News Record),
1st of following month
_
Concrete factory costs (Aberthaw), 1st of following month
Plumbingfixtures,6 articles .. _. dollars
1,004
3,307
1,025
3,106
657
2,839
11,619
44,079
13, 130
57, 459
+2.1 +56.0
-6.1 +9.4
+13.0
+30.4
195
197
-0.5
-1.0
-4.4
-4.8
218 220
206 209
199 200
184 183
195 197 197 197
172 171 170 171
0.0
+0.6
-1.5
-6.6
1913
1913
115. 28
1914
1913
123. 58
195 201 196
193 202 199
1913
114. 91
204 204
207 207
Construction and Losses
Construction volume _._ --index number
Contracts awarded (27 States) :
Commercial buildings
thous. of sq. ft._
6,650
92, 726
7,206
9,669
Industrial buildings
thous. of sq. it-4,102
3,029
3,794
62, 205
Residential buildings
thous. of sq. ft.. 29,728
34,693
23,518
354, 257
Educational buildings
thous. of sq. ft_.
2,485
2,034
2,571
44,432
Other public and semipublic
buildings
thous. of sq. ft..
3,218
2,724
37,639
2,213
Grand total
thous. of sq. ft— 46,800
42, 342
49,867
591, 629
a
December, 1923.
b
Revised.
a Twelve months' average, July to June, inclusive, ending the year indicated.
6 Twelve months' average, May, 1921, to April, 1922.
1913
130 128
108 128 145 141
95,862
40,967
371, 289
46, 774
+3.4
-34.1
+4.8
+5.3
1919
1919
1919
1919
80 72
36 24
151 172
181 134
92 97
26 24
141 157
167 132
45, 596
605. 125
+21.1
+2.3
1919
1919
83 98
102 107
159
102
78 105
32 30
147 117
130 106
116 143 121
105 100 91
-2.8 +10.2
+34.2
-7.5
-20.9
-18.1
+45.4
+25.3
-32.2
-20.9
-15.4 +23.1
-9.5 -15.1
36
TREND OF BUSINESS MOVEMENTS—Continued
ACTUAL DATA
In many cases February figures are now
available and may be found in the
special table on page 25
1924
December
Janu-
January,
1924
ary
1023
BUILDING CONSTRUCTION AND
HOUSING— Continued
Construction and Losses— Continued
Contracts awarded, value (27 States) :
61,792
446,124
34,068
Commercial buildings
thous. of dolls.. 33, 773
16, 793
19, 723
378, 815
Industrial buildings
thous. of dolls.. 24,930
158, 521 1, 582, 750
Residential buildings
thous. of dolls.. 152, 219 112, 402
272, 530
13, 595
15,927
Educational buildings
thous. of dolls. . 21, 695
Other public and semipublic
252, 568
28, 425
14, 899
buildings
thous. of dolls.. 27,023
261, 320 3,494,118
Grand total
.thous. of dolls.. 283,091 255, 367
Fire losses:
41,244
389, 177
41, 210
United States and Canada.thous. of dolls.. 44,477
«762
10,848
432
Great Britain
. thous. of £ sterling
Contracts awarded (36 States) :
10, 919
109, 437
8,424
7,778
Commercial buildings
thous. of sq. ft..
4,335
73,424
4,705
3,795
Industrial buildings
thous. of sq. ft_.
26, 791
37,945
390, 748
Residential buildings
thous. of sq. ft.. 33, 153
3,114
2,371
55, 690
3,254
Educational buildings
thous. of sq. ft..
Other public and semipublic
3,225
3,217
46, 938
3,785
buildings
thous. of sq. ft..
48, 536
56,624
676, 227
Grand total
thous. of sq. ft.. 53, 625
Contracts awarded, value (36 States):
67,372
38,393
512, 915
Commercial buildings
thous. of dolls.. 38, 696
19,454
24, 769
443, 186
Industrial buildings
thous. of dolls.. 30,776
170, 18& 1,734,494
Residential buildings
thous. of dolls.. 166, 839 127, 232
320, 623
15, 339
18, 519
Educational buildings
thous. of dolls.. 25,797
Other public and semipublic
31, 614
21, 705
304, 630
buildings
thous. of dolls.. 30, 259
301, 952 3, 981, 316
Grand total
thous. of dolls.. 327, 987 296, 473
Lumber
Southern pine:
452, 214 5, 401, 977
Production (computed)
M ft. b. m__ 422, 347 489, 487
497, 038 5, 507, 647
Shipments (computed)
M ft. b. m_. 423, 993 467, 707
541, 282 5, 423, 322
Orders (computed
M ft. b. m__ 428, 688 446, 066
Stocks, end of mo. (computed) M ft. b. m.. 1, 041, 774 1, 103, 887 1, 068, 919
54,324
58,183
823, 248
Exports (incl. timber)
...M ft. b. m__
83, 119
Price, "B" and
44.42
46.95
44.28
better
dolls per M f t b m
Douglas fir:
470, 776 6, 103, 859
Production
M ft. b. m__ 446, 643 507, 385
473, 990 6, 191, 581
Shipments (computed)
M ft. b. m._ 455, 095 468,229
500, 778 6, 108, 179
New orders
M ft. b. m__ 527, 950 521, 110
52,853
517, 974
39, 931
111, 340
Exports, lumber
M ft. b. m__
22, 358
86,849
427, 752
Exports, timber
M ft. b. m.. 25, 357
16.50
19.50
19.50
Price,No. 1 common-dolls, per M ft. b. m_.
California redwood:
43,385
38, 673
638, 978
50, 503
Production (computed)
M ft. b. m _ _
591, 218
37, 195
36, 246
36, 997
Shipments (computed)
M ft. b. m__
40,618
40, 773
562,329
Orders received (computed)... M ft. b. m__ 44,695
California white pine:
39, 813
34,979
16, 576 1, 222, 513
Production
M ft. b. m__
52, 381
85, 378
84, 316
743, 667
Shipments.
..M ft. b. m
Stocks, end of month
M ft. b. m_. 630, 157 550, 925
470, 725
Western pine:
92,278
83, 459
74, 101 1, 750, 991
Production (computed)
M ft. b. m__
127,838 1, 549, 676
Shipments (computed)
M ft. b. m _ _ 148, 118 142, 998
966,689
Stocks, end of mo. (computed) _M ft. b. m__ 1, 053, 038 962,064
North Carolina pine:
41,426
47, 530
579, 089
Production (computed)
M ft. b. m.. 43,841
44,639
44, 919
50,680
582,470
Shipments (computed)
M ft. b. m._
Northern pine:
Lumber—
33, 414
37, 552
617, 518
Production
. .. M ft. b. m 21,007
44, 457
38, 984
41, 720
556, 146
Shipments
..
M ft. b. m__
492, 213
50, 693
40, 527
51, 453
Orders received
M ft b m
Lath8,979
5,831
8,943
159, 482
Production
M ft. b. m..
6,566
9,106
147, 500
4,736
Shipments
M ft. b. m._
Northern hemlock:
18, 664
16,528
312, 707
Production.
_
M ft. b. m_. 17, 964
17, 951
304,209
15, 899
17, 455
Shipments
..M ft. b. m.
Northern hardwood:
47, 411
43,525
448, 759
26, 923
Production
M ft. b. m
26, 820
29,117
28,319
460, 229
Shipments
M ft. b. m__
Walnut lumber:
4,256
4,650
2,561
30, 456
Production
M ft. b. m__
3,088
3,818
4,182
28, 695
Shipments
..
M ft. b. m
Pt.orks, Pir\c\ of month
TVf f t b in
15, 614
16,709
BASE
YEAR
OB
PERIOD
1924
<•#
or decrease
( )
1924
from
1923
522, 233
285, 137
1,842,464
317, 149
+17.1
-24.7
+16.4
+16.4
1919
1919
1919
1919
115
54
193
256
101
46
224
160
151
34
211
237
151
65
252
165
100
58
215
218
183
39
159
136
+83.0 +81.4
-32.6 -14.9
-26.2 -29.1
-37.3 -14.6
333, 117
3,879,538
+31.9
+11.0
1919
1919
90
125
103
122
182
160
133
159
187
132
196
119
+5.2 +90.8
-9.8 -2.3
377, 529
7,443
-3.0
-31.4
1919
1920
113
108
184
121
125
72
174
55
198
61
184
-7.3
-0.1
113, 039
50, 032
422, 306
58,242
+3.3
-31.9
+8.1
+4.6
+29.6
-7.9
-19.2
-27.1
+40.4
+14.2
-29.4
-23.9
55, 711
706,426
+ 18.7
+4.5
-15.0 -0.2
-9.5 -14.3
596, 342
355, 270
2, 050, 094
367, 440
+16.3
-19.8
+ 18.2
+14.6
+74.1
-36.8
-23.7
-40.5
392, 739
4,485,792
+28.9
+12.7
5, 440, 508
5, 513, 795
5, 565, 154
+0.7
+0.1
+2.6
845, 261
+2.7
5,865,829
5, 972, 403
6,117,878
623, 540
458, 120
-3.9
-3.5
+0.2
+20.4
+7.1
577, 634
450, 999
457, 542
YEAR'S TOTAL
1925
8,646
1923
1924
1925
JanuJanu- ary,
ary
1925,
from
from
De- JanuJan. Oct. Nov. Dec. Jan.
Dec.
cember ary,
1924
+75.5
-21.5
-25.2
-17.2
+4.5 +45.7
-9.6 -1.8
+15.9 +8.2
+10.3 -5.9
+4.1 -13.9
+6.0 +3.3
-30.0 +7.1
1917
1917
1917
1917
1919
89
87
109
81
155
107
112
121
78
107
109
112
113
79
144
100
109
117
75
112
100
96
96
76
118
116
106
100
80
114
1913
183
192
175
184
193
204
1917
1917
1922
1919
1922
1913
136
132
118
235
691
190
135
147
120
444
604
212
160
156
153
181
272
179
152
144
136
192
165
179
131
141
127
159
176
179
149
145
125
211
156
212
+16.6 +7.8
+2.9 -1.2
-1.3
+4.1
+32.4 -52.5
-11.8 -74.3
+18.2
0.0
-9.6
-23.7
-18.6
1918
1918
1918
106
110
102
103
130
142
119
115
122
143
144
152
135
130
155
116
127
141
-14.1 +12.2
—2.6 -2.0
-9.1 -0.4
1, 152, 737
921, 179
-5.7
+23.9
1918
1918
1918
104
176
242
32
164
178
240
320
254
150
281
238
76
268
238
67
264
208
-12.1 +111.0
-1.2 +61.0
-12.6 +17.0
1, 651, 929
1, 623, 015
-5.7
+4.7
1917
1917
1920
84
101
117
68
110
110
135
131
128
110
114
127
84
134
119
76
130
109
-9.6 +12.6
-3.5 +11.9
8.6 -0.5
589, 731
592, 039
+1.8
-1.6
1919
1919
124
138
139
157
151
174
172
168
128
140
121
139
-5.5 -12.8
-0.6 -11.9
515, 506
535, 453
532, 874
-16.5
-3.7
+8.3
1920
1920
70
66
93
83
103
106
23
77
52
78
83
89
+59.1 -1LO
+14.0 +6.6
-20.1 -21.2
129, 897
141, 553
-18.6
-4.0
1920
1920
72
90
94
143
120
159
24
94
61
75
93
103
244, 996
227,044
-21.7
-25.4
1913
1913
50
50
44
49
57
56
32
47
48
44
50
48
400,226
342, 395
-10.8
-25.6
1913
1913
114
158
154
112
51
129
55
106
95
106
167
115
42, 347
37, 727
+39.0
+31.5
1922
1922
1922
151
107
90
142
160
85
215
202
143
221
174
149
236
198
153
257
217
164
Walnut logs:
31,687
2,308
2,902
3,205
28,919
+9.6
Purchase
.... M ft. log measure
Made into lumber and
3,073
2,122
3,017
25,362
32, 720 -29.0
veneer
M ft. log measure
3,356
3,634
2,686
Stocks, end of mo nth.. M ft. log measure..
All lumber:
-3.1
Production, 10 species..
M ft. b. m._ 2, 153, 206 2, 368, 527 2, 229, 295 29, 943, 133 29,026,057
218, 557 1, 749, 116 1, 938, 689 +10.8
Exports, planks, joists, etc
M ft. b. m.. 160, 298 150, 950
Retail yards, Minneapolis
Fed. res. dist.—
159,876
8,987
8,053
175,817
-9.1
7,240
Sales
M ft. b. m..
109,846
Stocks, end of month
M ft. b. m_. 101, 666 115, 335
Composite lumber prices:
43,02
44.12
43.71
Hardwoods '
dolls per M ft b m
31.18
31.68
32.80
Softwoods 7dolls, per M ft. b. m..
a December, 1923.
7
Prices are averages of quotations reported as of the first week of the month following that indicated.
Per cent
increase (+)
or decrease (— )
RELATIVE NUMBERS
Per ct.
increase
+5.7
+53.4
+38.6
+6.0
-0.4
-27.9
+3.9 +12.9
+9.8 -2.8
+76.1
+8.6
+8.9
+2.8
+9.3 +81.6
+9.5 +35.4
+7.0 +93.3
1922
177
158
229
232
207
229
+10.4
1922
1922
157
212
160
174
226
129
281
140
227
129
232
161
+1.9 +44.8
+24.9 -7.6
1913
1909-13
94
96
101
123
114
89
105
99
98
90
108
85
+10.0 +6.2
-5.8 -30.9
1920
1920
53
52
43
54
113
53
107
49
54
50
48
57
-10.4
+13.4
+11.2'
+5.0
1921
1920
104
64
105
66
102
60
103
62
103
63
106
64
+2.6
+1.6
+0.9
-3.4
+38.9
37
TREND OF BUSINESS MOVEMENTS—Continued
ACTUAL DATA
In many cases February figures are now
available and may be found in the
special table on page 25
1994
December
YEAR'S TOTAL
1925
January
January,
1924
1923
1924
Per ct.
increase
(+)
or decrease
1924
from
1923
Per cent
increase (+)
or decrease (— )
RELATIVE NUMBERS
»
BASE
YEAR 1923
OR
PERIOD
1924
Dec. Jan.
1925
January
from
DeOct. Nov Dec. Jan. cember
January,
1925,
from
Janu1924
BUILDING CONSTRUCTION AND
HOUSING— Continued
Wooden Furniture
Household furniture and case goods:
Shipments
dolls average per firm
Unfilled orders dolls, average per firm-Piano benches and stools:
New orders
.
dollars
Unfilled orders
dollars
ShipmentsValue
dollars
Quantity .
. .pieces-Flooring
Oak flooring:
Production
_M ft. b. m__
Shipments..
M ft. b. m..
Orders booked
..M ft. b. m__
Stocks, end of month
M ft. b. m._
Unfilled orders, end of month.M ft. b. m__
Maple flooring:
Production
M ft. b. m
Shipments
M ft. b. m
Orders booked
M ft. b. m_.
Stocks, enrl of month
__M ft. b. m._
Unfilled orders, end of month.M ft. b. m..
37, 024
45, 592
34, 775
55,813
30, 596
52,964
445, 587
443, 397
-0.5
1920
1920
79
26
76
41
107
43
95
45
92
36
101, 968
20,456
« 104, 141
«49, 594
1919
1919
66
24
62
27
76
20
69
19
"135, 493
«20, 270
1919
1922
92
148
62
101
83
144
79
134
-6.1 +13.7
+22.4 +5.4
64
10
119, 640
19, 167
86
44
81
140
+13.0
+0.5
-15.3
+16.2
+0.9
+38.6
+12.0
-19.8
+31.9
-4.9
36,975
34, 642
39, 887
43, 823
53,295
41, 768
34, 812
33, 794
50, 925
53, 772
30, 136
31,080
42, 141
38, 595
56,554
361, 231
346, 534
345, 758
418, 113
423, 667
430, 801
+15.7
+22.3
+24.6
1913
1913
1913
1913
1913
390
457
620
457
658
451
517
690
428
780
633
707
568
457
497
555
594
755
464
660
554
577
653
487
736
626
579
554
566
742
10, 034
6,935
10, 652
25, 992
12,735
9,967
7,523
8,266
28,214
12,755
10, 225
8,109
14, 736
21, 831
18, 655
140, 802
141, 660
133, 014
103, 232
94,384
97, 015
-26.7
-33.4
-27.1
1919
1919
1919
1919
1919
116
75
73
157
40
102
68
104
141
49
77
66
48
149
21
79
61
59
148
23
100
59
75
168
33
99
63
58
183
33
-0.7 -2.5
+8.5 -7.2
-22.4 -43.9
+8.5 +29.2
• +0.2 -31.6
56, 485
53, 657
236, 451
62,874
67,823
53, 218
58, 918
229, 234
59, 916
67, 931
56,347
54, 111
198, 315
66,080
69,833
723, 897
694,739
661, 613
625, 840
-8.6
-9.1
683, 949
634,074
-7.3
1919
1919
1919
1919
1919
92
95
132
92
64
111
107
143
128
74
114
107
166
98
60
102
96
169
101
63
111
106
170
122
73
105
116
165
116
73
-5.8 -5.6
+9.8 +8.9
-3.1 +15.6
-4.7 -9.3
+0.2 -2.7
17,568
16,046
36, 512
29, 483
31, 287
24, 852
23, 418
52,083
16, 766
40,999
13,400
15, 391
42, 298
24, 812
28, 732
156, 179
159, 864
169, 250
179, 238
+8.4
+12.1
158, 571
187, 186
+18.0
1919
1919
1919
1919
1919
43
61
99
30
60
95
110
101
184
70
78
102
82
102
26
90
84
84
141
44
125
114
87
219
76
177
167
125
125
100
+41.5
+45.9
+42.6
-43.1
+31.0
22,893
71, 498
22, 499
12, 225
17, 910
68, 566
23,889
8,653
17, 366
61, 575
33, 592
11, 231
275,838
288,462
+4.6
273, 210
258, 058
-5.5
1919
1919
1919
81920
134
229
93
91
111
250
122
80
172
224
103
165
145
237
83
130
146
291
82
88
114
279
87
62
-21.8 +3.1
-4.1 +11.4
+6.2 -28.9
-29.2 -23.0
13.50
14.50
20.00
1913
290
305
213
206
206
221
23,000
75
9,207
85, 283
11, 235
176
44,059
25,266
62
4,198
111, 666
5,751
40
51, 572
19,664
46
9,491
91, 737
6,834
1,164
51, 419
Brick
Clay fire brick (computed) :
Production
thousands
Shipments
thousands. _
Stocks, end of month
.thousands .
New orders
thousands-Unfilled orders, end of month. thousands ..
Silica brick (computed) :
Production ..
thousands
Shipments
thousands
Stocks, end of month. .
thousands. .
New orders
thousands
Unfilled orders
. thousands..
Face brick (32 identical plants) :
Production
..
.. thousands. _
Stocks at yards
thousands
Unfilled orders, end of month .thousands __
Shipments
thousands
Prices, common brick:
Wholesale, red, New York. dolls, per thous. .
Paving brick:
Production—
Actual
thousands. .
Relation to capacity
per cent..
Shipments
thousands..
Stocks, end of month
thousands
Orders received
-thousands-Cancellations
thousands
Unfilled orders, end of month-thousands..
Floor and Wall Tile
Production
. -thous. of sq. ft..
Shipments, quantity
thous. of sq. ft
Shipments, value
thous. of dolls
Stocks, end of month
thous. of sq. ft_.
Prices:
Ceramic mosaic
dolls, per sq. ft
White wall tile (standard). dolls, per sq. ft..
Architectural Terra Cotta
Bookings:
Quantity.
net tons..
Value
thous. of dolls
+7.4
-27.5
+9.9
-17.3
-54.4
+30.9
-48.8
-77.3
+17.1
+28.5
+34.8
+55.8
+21.7
-15.8
+3.4
+0.3
-22.2
-11.1
0
a
4, 982
3, 843
« 1 242
« 6, 710 ---0
0 24
« 0.40
4,079
3,383
1,210
9,063
0.24
0.40
9,678
985
+85.5
+52.2
+23.1
-32.4
+42.7
12,637
1,389
--
16, 240
1,562
135, 669
16, 175
137, 644
14,815
+1.5
-8.4
1919
1919
247
212
309
240
171
139
190
163
184
151
241
213
+30.6
+41.0
8,788
5,210
14, 155
137, 377
135, 887
148, 859
145, 747
+8.4
+7.3
1913
1913
1913
130
87
97
115
70
126
193
231
54
171
139
80
136
74
124
116
69
158
-14.6 +1.5
-7.2 -2.0
+27.4 +25.2
1913
1913
163
197
170
197
173
197
173
197
166
197
172
197
1919
1919
106
103
90
76
153
93
67
55
156
136
101
101
Portland Cement
Production
thous. of bbls
10, 435
8,916
Shipments
thous. of bbls..
5,108
5,506
Stocks, end of month.
. thous. of bbls.. 13,913
17, 720
Price, Portland:
Chicago district .
dolls, per bbl .
1.68
1.74
Lehigh Valley
dolls, per bbl
1.75
1.75
Concrete paving contracts
awarded:
6,958
Total
thous. of sq. yds..
4,513
Roads
thous. of sq. yds..
3,474
4,661
• December, 1923.
8 Relative to 10 months' average, March to December, inclusive.
1.72
1.75
4,013
2,613
78, 958
50,935
92,142
58,107
+16.7
+14.1
+3.6
0.0
+L2
0.0
-35.1 +12.5
-25.5 +33.0
38
TREND OF BUSINESS MOVEMENTS—Continued
ACTUAL DATA
•
In many cases February figures are now
available and may be found in the
special table on page 25
1924
December
January
YEAR'S TOTAL
1925
January,
1924
1923
1924
Per cent
RELATIVE NUMBERS
increase (+)
Per ct.
or decrease (— )
ncrease
<+)
BASE
or deYEAR 1923
1924
1925
Janucrease
OB
Janu- ary,
<-)
PERIOD
ary
1925,
1924
from from
from
De1923
Dec. Jan. Oct. Nov. Dec. Jan. cember January,
1924
BUILDING CONSTRUCTION AND
HOUSING— Continued
Roofing
Preparing roofing:
Shipments
thous. of roof squares..
Roofing felt:
Production, dry felt
tonsStocks, end of month, dry felt
tons..
3,363
2,370
2,380
30, 504
32, 573
+6.8
1919
98
114
155
116
162
114
-29.4
-0.4
17, 179
2,257
20,076
3,503
14, 662
1,982
192, 936
208,873
+8.3
1922
1922
93
85
91
82
127
73
108
80
107
93
125
144
+16.9
+55.2
+36.9
+76. 7
number
number
number
73, 724
104, 301
109, 263
93, 938
105, 056
120, 358
95, 562
1,084,753
1, 147, 549
+5.8
114, 203
1, 167, 796
1, 173, 890
+0.5
1919
1919
1919
234
103
142
276
125
163
271
211
111
217
214
110
213
247
156
271
249
172
+27.4
+0.7
+10.2
-1.7
+98.5
+5.4
number
number
number..
123, 533
129, 988
1,325,750
1, 323, 399
-0.2
126, 148
145, 279
137, 084
1,462,690
1, 262, 042
-13.7
1919
1919
1919
243
60
162
284
74
186
231
116
127
187
123
112
183
140
171
270
132
197
+47.3
-5.9
+15.2
-5.0
+7&9
+6.0
number..
number
number
99, 857
251, 448
131, 127
127, 289
252, 258
146, 696
137, 624
1, 369, 754
1, 444, 577
+5.5
159, 541
1, 535, 029
1,364,359
-11.1
1919
1919
1919
216
69
154
252
77
181
210
172
109
168
182
104
183
200
149
234
201
167
+27.5 -7.6
+0.3 +159. 1
+11.9
-8.1
number
number
number..
72,316
74, 484
847, 900
174, 290
70, 132
63,964
694, 956
+22.0
187, 812
64, 444
87, 425
759, 479
772, 552
+1.7
1919
1919
1919
225
65
147
262
80
209
252
198
132
179
190
116
166
235
154
255
218
167
+53.9
-2.9
• -7.2 +172. 5
+8.8 -19.8
number-number
254, 625
89,402
108, 276
295, 400
216, 295
735, 131
»1921
«1921
498
551
530
569
195
160
159
135
219
197
265
229
+21.1
+16.0
-49.9
-59.8
Sanitary Ware
Baths, enamel:
Orders shipped
Stocks, encTof month '
Orders revived
Lavatories, enamel:
Orders .shipped
Stocks end*of month
Orders received
Sinks, enamel:
Orders shipped
Stocks, end nf month
Orders received
Miscellaneous, enamel:
Orders shipped
Stocks, end of month
Orders received
Unfilled orders, end of month:
BathsSmall ware
83,861
196,324
46,983
184,765
52,924
103,252
97,366
CHEMICALS AND OILS
Imports:
23,204
25, 878
32,316
Potash
long tons
89, 858
159, 275
59,300
Nitrate of soda
long tons
Exports:
1,017
570
948
Sulphuric acid
. _. thous. of Ibs .
65, 989
85,200
Total fertilizer
-long tons.. 91, 371
Dyes and dyestuffs—
340,294 201, 175
165, 353
Vegetable
Ibs
Coal tar
Ibs 1,021,596 2, 006, 681 1, 432, 721
Price index numbers:
Crude drugs _
index number..
Essential oils
index number
Drugs and
Pharmaceuticals
index number
Chemicals
index number
Oils and fats
index number
Price sulphuric acid 66° N Y index number
Acetate of lime:
11, 590
13, 420
Production
thous. of Ibs.. 10, 273
10,048
9,022
8,960
Shipments or use
thous of Ibs
15, 367
23, 402
13, 499
Stocks, end of month.
thous. of lbs_.
1,995
326
980
Exports
thous of Ibs
3.000
4.000
3.000
Price
dolls per cwt
Methanol:
705, 747
Production
gallons.. 523, 818 573, 333
586, 331
642, 812
593, 038
Shipments or use
gallons
Stocks, end of month
gallons.. -1, 315, 166 1, 305, 058 2, 632, 633
56, 760
73, 768
Exports.
gallons. . 35, 310
.68
.88
.68
Price
dolls per gall
Wood of chemical plants:
62,614
78, 892
55, 380
Consumption (carbonized) . _ cords..
433, 240
786, 174
527, 802
Stocks pud of TriQntn
cords
230, 455
889, 010
229,059
984,630
-0.6
+10.8
1909-13 115 123
1909-13 203 369
145
163
132
152
153
137
110
208
-28.2
+51.5
-10.3
-43. 6
8,234
1,096,451
11,272
1,070,595
+36.9
-2.4
1909-13
1909-13
138
99
137
76
155
88
166
64
+7.3
-27.8
+78.4
-22.5
4, 252, 886
3, 173, 604
-25.4
-12.3
17,924,536 15, 713, 091
59
50
93
82
-40.9 +21.7
+96.4 +40.1
1914
1914
205
144
190
141
212
142
222
148
231
153
222
154
-3.9
+0.7
+16. 8
+9.2
1913-14
1913-14
1914
150
120
138
75
156
110
147
70
157
112
151
70
155
112
158
70
154
113
157
70
-0.6
+0.9
+0.6
0.0
+2.7
—5.8
+13. 8
-6.7
111 +12.8 -13.6
73 +12.1 +11.4
43 +13.8 —34.3
87 +103. 6 +512. 0
133
0.0 -25.0
1913
149
122
140
75
164, 378
161, 091
128, 942
117, 767
-21. 6
-26.9
1922
1922
1922
1922
1922
113
89
52
59
177
128
66
65
14
177
94
87
42
59
133
99
85
33
153
133
98
88
38
43
133
8, 593, 727
8, 000, 617
6, 893, 291
-19.8
1, 206, 996
640, 637
-46.9
1922
1922
1922
1922
1922
110
119
94
76
54
124
101
96
70
64
95
98
56
48
42
99
99
50
40
41
92
93
48
33
41
101
92
47
54
41
+9.5
-1.1
-0.8
+60.7
0.0
-18.8
-8.8
-50.4
-23.1
-22.7
969, 443
738, 544
-23.8
1922
1922
105
89
123
83
90
66
85
57
86
56
97
46
+13.1
-17.9
-20.6
-44. 9
441, 143
438, 502
404, 881
412, 076
392, 707
-8.2
-6.0
-7.0
1922
1922
1922
1922
101 , 105
99 ! 109
101 116
118 105
133
126
126
112
110
108
112
112
101
101
106
111
109
114
119
101
+7.3
+12.4
+13.0
-9.4
+3.9
+3.7
+3.2
-3.6
|
I
Explosives
Total explosives:
Production
Shipments
Sales
.
Stocks
of Ibs
of lbs__
of lbs__
of lbs_.
31,208
barrels-barrels
26, 189
61, 379
8,391
49, 556
10, 788
41, 545
318,852
308, 715
-3.2
1919
1919
184
162
71
134
168
134
164
166
172
198
55
159
-68.0
-19.3
-22.2
+19.3
256,482
119, 216
51, 279
222, 857
306,606
61, 971
1, 170, 895
1, 108, 305
-5.3
1919
1919
213
173
111
153
166
114
188
114
213
128
92
111
-57.0
-13.1
-17.3
-27.3
9,853
53,486
9,454
59,445
4,735
79,742
49,408
627, 535
811, 693
-13.2
+29.3
1913
1913
25
211
16
373
9
191
34
260
34
250
33
278
-4.0 +99.7
+11.1 -25.5
19, 177
20,135
19, 109
19,997
inclusive.
24,699
23,841
227, 581
226, 461
231,524
+1.7
+1.5
1913
1913
183
175
204
201
166
162
141
144
166
169
158
161
thous.
thous.
thous.
thous.
31, 411
30, 569
18, 181
33, 479
35, 296
34, 541
16, 480
32, 235
34, 026
33,467
17,088
422,084
|
Naval Stores
Turpentine (3 principal ports) :
Net receipts
Stocks end of month
Rosin (3 principal ports) :
Net receipts
Stocks end of month
barrels
barrels
Fats and Oils
Total vegetable oils:
Exports
thous. of lbs._
Imports
thous. of lbs._
Oleomargarine:
Production
..
thous. of Ibs __
Consumption
thous. of lbs._
• Eight months' average, May to December,
56,931
229, 872
-4.8
+4.4
-22.4
-19.8
39
TREND OF BUSINESS MOVEMENTS—Continued
i
ACTUAL DATA
In many cases February figures are now
available and may be found in the
special table on page 25
1924
December
1925
January
TEAS'S TOTAL
January,
1924
1923
1924
(
or1?
decrease
(-)
1924
from
1923
Per cent
increase (+)
or decrease (— )
RELATIVE NUMBERS
Per ct.
increase
BASE
YEAR
OR
PERIOD
1993
1924
1925
January.
1925,
from
January*
1924
January
from
DeDec. Jan. Oct. Nov. Dec. Jan. cember
CHEMICALS AND OILS— Continued
i
Cottonseed
Cottonseed stocks, end of month
tons.. 1,223,863
Cottonseed oil:
Stocks, end of month
..-.thous. of lbs_. 105,520
Production
thous. of IDS.. 209,471
Price, New York
dolls, per lb_.
.114
Flaxseed
Receipts:
Minneapolis
thous. of bushs..
1,366
Duluth
..thous. of bushs .
652
Shipments:
Minneapolis .
thous. of bushs . .
361
Duluth
thous. of bushs.1,204
Stocks, end of month:
453
fctj, Minneapolis
thous. of bushs
i^j|T)nlnth
,,...,
, thons. of bnshs..
1,092
Linseed oil: Shipments from
Minneapolis
thous. of Ibs.. 16,825
Linseed-oil cake: Shipments from
Minneapolis....
thous. of lbs_. 31,274
898, 671
578, 378
1919
145
113
169
231
239
175
-26.6
+55.4
120, 997
210, 409
.112
135, 935
120, 519
.110
973, 755
1,062,841
+9.1
1919
1919
1913
147
115
151
141
110
152
86
190
155
111
209
151
110
190
158
109
191
154
+14.7
+0.4
-1.8
-11.0
+74.6
+1.8
1,253
228
403
159
10, 348
7,273
12,091
15,437
+16.8
+112.3
1913
1913
87
59
43
15
388
636
271
572
145
63
133
22
-8.3 +210.9
-65.0 +43.4
173
324
137
199
1,630
5,100
3,821
14,437
+134.4
+183. 1
1913
1913
100
82
88
18
880
430
297
576
23.1
110
11
1
29
-52.1 +26.3
-73.1 +62.8
434
888
410
359
1913
1913
205
17
176
13
91
82
127
65
194
40
186
32
-4.2 +5.9
-18.7 +147. 4
-12.5
+7.0
14,720
13, 754
129, 153
131,499
+1.8
1913
101
90
122
118
111
97
31,226
24,652
204,712
208, 435
+1.8
1913
81
82
97
98
104
104
12, 928
12, 201
171, 919
238, 608
+38.8
1913
109
102
450
295
204
109
-46.9
81,796
79, 341
24, 734
19, 864
75, 111
122,902
15, 875
11,200
+26.3
+65.7
1913
1913
1919
1919
141
383
90
83
126
376
50
56
161
159
279
362
176
235
192
252
161
243
115
164
137
243
79
100
-14.9 +8.9
+0.2 -35.4
-31.8 +55.8
-39.2 +77.4
1,909
2,006
1,133
1,106
1913
1913
122
110
124
112
163
155
168
160
185
179
209
203
+13.2 +68.5
+13. 4 +81.4
44,690
9,782
756,945
58
41, 834
8,970
746, 040
52
11,007
10, 555
6,700
11, 705
10, 017
7,400
11,000
9,299
7,150
8.895
9.694
7.788
8.805
571
19, 693
28,953
9,365
5,520
896
28,812
37,038
14,290
6,751
3,106
10, 492
30,600
19,648
6, 758
1.233
1.271
.759
-0.2 +26.7
[ FOODSTUFFS
Wheat
Exports, including flour... r _. thous. of bushs.. 24,326
Visible supply:
United States - ..
thous. of bushs .. 96, 114
Canada
.-thous. of bushs .. 79, 221
Receipts, principal markets.. thous. of bushs.. 36, 293
Shipments, prin. markets
thous. of bushs. . 32, 656
Prices:
No. 1, northern, Chicago-dolls, per bush..
1,687
No. 2, red winter, Chicago.dolls. per bush..
1,769
388, 360
216, 461
490, 530
358, 696
+6.0
Wheat Flour
(Bureau of the Census)
Wheat, ground
thous. of bushs
40,428
Production, wheat
flour
thous. of bbls..
8,855
Production, grain offal
thous. of Ibs.. 695,925
Per cent of capacity operated _ _ .per cent _ _
52
+10.5 +6.8
+10.5 +9.1
+8.8 +1.5
+11.5 +11.5
(Russell's Commercial News)
Production
thous. of bbls..
Consumption..
thous. of bbls..
Stocks, all positions
thous. of bbls..
Wholesale prices (Dept. Labor):
Flour, standard patents,
Minneapolis
dolls, per bbl
Flour, winter straits, Kansas
City
—.
dolls, per bbl .
132, 563
116, 623
+5.4
+5.4
+6.3
-5.1
+10.4
+6.4
+7.7
+3.5
+9.0
+56.5
1914
1919
1919
111
120
15
113
114
76
138
136
96
120
141
82
113
129
71
121
123
78
6.195
1913
133
135
175
178
194
212
5.250
1913
133
137
173
179
202
229
+13.1 +67.7
1913
1913
1919
1919
1913
52
88
244
209
135
74
94
204
222
161
17
76
130
134
165
22
73
102
81
130
14
177
193
106
132
21
259
247
162
161
+56.9
+46.3
+27.9
+52.6
+22.3
117
121
177
181
197
203
+3.1 +67.5
1913
1913
1913
97
114
37
78
101
21
189
382
91
90
386
45
95
414
39
113
422
33
+18.9 +44.8
+2.0 +319. 5
-16.0 +54.0
1913
120
126
139
140
159
159
-0.3 +25.7
1913
1913
64
26
32
20
136
364
80
185
60
119
55
104
-8.6 +69. 49
-12.7 +409.0
1913
110
113
145
138
150
156
+4.1 +38.0
157
774
110
140 1,368 690
530 7,050 854
114 200 206
294
552
221
165
779
249
-43.9 +18.1
+41.1 +47.1
+12.9 +118.6
200
137
138
140
84
116
-38.3
+2.8
-16.7 +14.3
125, 761
110,681
Corn
Exports, including meal.. thous. of bushs
Visible supply
thous . of bushs
Receipts, principal markets.. thous. of bushs. Shipments, prin. markets
thous. of bushs..
Qrindings (starch, glucose)— .thous. of bushs. .
Prices, contract grades, No. 2,
Chicago
.
dolls, per bush.
44, 689
20,166
-54.9
271, 705
170, 531
66, 160
278, 148
168, 394
75, 345
+2.4
-1.3
+13.9
1913
i
Other Grains
Oats:
Receipts, principal markets
thous. of bushs.. 19, 738
' Visible supply
._ thous. of bushs
72, 128
Exports, including meal. .thous. of bushs. . 1,171
Prices, contract grades,
Chicago
dolls, per bush
.598
Barley:
Receipts, principal markets
. ..thous. of bushs.. 5,405
1,744
Exports.
thous. of bushs..
Price, fair to good, malting Chicago
dolls, per bush
.935
Rye:
Receipts, principal mar3,802
kets
thous. of bushs .
Exports, including flour..thous. of bushs —
856
1.404
Price, No. 2, Chicago
dolls, per bush..
-71.2
+174. 6
+21.0
-27.3
-0.1
239, 693
264, 554
+10.4
11, 597
8,330
-28.2
23,477
73, 570
984
16, 208
17, 539
639
.596
.474
4,940
1,522
2,916
299
.973
.705
2,134
1,208
1.585
1,807
821
.725
44,199
31,998
64,967
36,980
+47.0
+15.6.
1913
1913
1913
17,538
197, 182
17,066
172, 473
277,014
2, 276, 853
321,805
2, 575, 514
+16.2
+13.1
1913
1919
46, 851
11,811
62, 483
17, 722
+33.4
+50.0
Total Grains
Total grain exports,incl.flour-thous. of bushs. . 28,668
Car loadings of grain and grain products-cars.. 236,629
I
1
86
134
82
102
353
163
40
TREND OF BUSINESS MOVEMENTS—Continued
1
j
In many cases February figures are now
available and may be found in the
special table on page 25
ACTUAL DATA
1924
December
January
YEAR'S TOTAL
1925
January,
1924
1923
1924
Per cent
RELATIVE NUMBERS
increase (+)
Per ct,
or decrease (— )
increase
(+)
BASE
or deYEAE 1923
1924
1925
Janucrease
OR
Janu- ary,
(-)
PERIOD
ary
1925,
1924
from from
from
De- Janu1923
Dec. Jan. Oct. Nov. Dec. Jan. cember
ary,
1924
FOODSTUFFS— Continued
Argentine Grains
Visible supply, end of month:
Wheat
thous. of bushs
Corn
thous of bushs
Flaxseed
thous. of bushs
3,700
8,000
2,200
7,400
3,200
2,800
1913
1913
1913
6,290
1,000
3,600
157
57
30
243
29
495
186
355
302
186
309
247
143
229
302
286
92
385
+85.1 +8.9
-85.9 +12.8
+27.3 -22.2
Bice
Southern paddy, receipts at mills
bbls__ 972,900 448, 306 1,075,680 7, 915, 742 8,489,104
Shipments:
Total from mills
pockets (100 Ibs.) — 933,878 981, 194 1, 104, 876 8,246,373 8, 296, 515
228, 712 2, 681, 663 1, 879, 369
New Orleans
pockets (100 Ibs.).. 151, 143 219, 817
Stocks, end of month:
Mills and dealers
pockets (100 Ibs.) 2, 346, 514 1, 867, 227 2,018,819
44,876
481, 258
380, 736
41, 497
Imports
pockets (100 Ibs.) . 27,444
303, 950 3, 403, 627 1, 104, 774
27,532
Exports
pockets (100 Ibs.)
10, 898
+7.2
+0.6
-29.9
1919
158
176
358
313
160
74
1919
1919
134
80
181
90
213
118
213
133
153
59
160
86
-20.9
-67.5
1919
1919
1919
248
21
108
249
33
97
193
9
29
279
11
7
289
20
9
230
30
3
+5.1 -11.2
+45.4 -3.9
-20.4
-7.5
+51.2 -7.5
-60.4 -96.4
Other Crops
Apples:
Cold-storage]holdings
(end of month)
thous. of bbls..
Car-lot shipments
carloads
Car-lot shipments:
Potatoes
carloads
Onions
.....
.carloads _
Citrus fruits
carloads
Hay, receipts
. ... __
.tons..
-12.3
+6.4
+17.3
+3.6
+4.6
1919
1919
497
114
404
117
287
529
388
280
345
89
270
73
+27.8 -14.6
-17.9 -37.4
1919
1919
1919
1919
76
97
198
63
127
139
180
83
217
261
78
79
135
165
207
67
85
107
207
62
141
156
223
84
+65.9 +11.5
+45.2 +12.5
+7.6 +23.6
+36.7 +1.2
1919
1919
1919
1919
88
88
80
89
92
80
55
101
133
150
171
126
115
123
125
111
101
91
70
111
91
79
47
101
1913
1919
1913
123
91
70
137
106
73
167
122
123
140
99
106
134
92
68
146
112
69
-53.9
-58.3
5,239
6,068
6,696
4,980
7,843
7,961
123, 216
108, 108
12, 757
1,869
11, 187
74, 303
21, 159
2,713
12,036
101, 595
18,983
2,411
9,735
100, 367
227, 467
25,582
99,128
917, 913
242, 137
30,020
102, 738
960,073
1,869
708
207
1,150
1,888
716
243
1,155
23,217
10,062
4,554
13,035
23,606
9,693
3,966
13,849
480, 692
473, 652
9,412
451,782
445, 453
9,899
5,128,886
4, 986, 513
163,024
5, 252, 000
5,064,939
159, 435
140,666
102,655
1919
45
43
28
42
60
59
9.313
.183
.133
9.469
.170
.139
1913
1913
1913
115
132
103
111
131
106
112
133
104
108
141
98
112
141
96
110
141
102
-10.3 -1.0
-13.2 -1.1
-33.0 -14.8
-9.1 -0.4
+9.0 +6.4
+21.7 +6.3
+0.9 -4.1
-1.5 +37.0
-0.4 -1.6
0.0 +7.6
+6.4 -4.3
6,604
2,271
38
4,335
6,105
2,176
38
3,910
6,253
2,198
50
4,016
55,332
19,144
751
36, 176
55,463
20,204
498
35,188
+0.2
+5.5
-33.7
1919
1919
1919
1919
156
160
61
155
167
184
67
158
108
123
75
100
130
147
53
124
177
190
51
171
163
182
51
154
-7.6 -2.4
-4.2 -1.0
0.0 -24.0
-9.8 -2.6
912,990
548, 753
120, 607
950, 738
612, 981
144, 221
976,966
650,363
224, 660
9, 182, 134
7,016,554
1,987,437
8,650,344
6,969,804
1,695,463
-2.7
-0.7
-14.7
1913
1919
1913
205
166
230
205
169
274
118
165
162
152
144
112
191
143
147
199
159
176
703,224
892, 730
855,020
192,596
76,803
194, 213
78,440
227, 689
132, 758
1, 916, 233
1,035,380
1,930,190
944,013
+0.7
-8.8
60,243
112, 607
54,130
1919
54
59
34
9.960
.207
.169
10.800
.219
.166
7.231
.193
.128
1913
1913
1913
84
123
120
86
116
116
129
130
150
1,467
688
138
786
1,697
773
149
920
22,052
11,734
4,478
10,298
22,201
11,793
4,680
10, 155
1919
1919
1919
1919
67
57
27
79
75
64
26
87
145
187
249
97
39, 655
39,979
42,502
36,271
444,259
450,817
450, 479
450, 167
1913
1919
84
96
93
109
95
109
2,337
2,306
1919
30
28
39
41
36
28
8.688
17.625
7.188
13.325
'1913
1913
137
160
153
171
124
172
135
171
162
205
185
226
+14.7 +20.9
+10.3 +32.3
1919
382
191
138
313
390
154
-60.6
1919
145
154
86
136
206
213
Cattle and Calves
Cattle movement, primary markets:
Receipts
thousands
2,083
Shipments, total
__
thousands-816
309
Shipments, stocker and feeder-thousands. .
1,265
Local slaughter
thousands..
Beef products:
Inspected slaughter product.thous. of lbs_. 441, 160
Apparent consumption
thous. of Ibs. . 389,309
Exports
thous. of Ibs..
9,329
Cold-storage holdings
142,862
(end of month)
thous. of Ibs
Prices, Chicago:
Cattle, corn-fed
dolls per 100 Ibs
9.350
Beef, fresh native steers
dolls, per lb__
.183
Beef, steer rounds, No. 2
dolls, per lb_.
.125
+1.7
-3.7
-12.9
+6.2
+2.4
+1.6
-2.2
Hogs and Pork
Hog movement, primary markets:
Receipts
__ _ thousands .
Shipments, total
thousands..
Shipments, stocker and feeder-thousands..
Local slaughter . .
.
thousands _
Pork products, total:
Inspected slaughter product.thous. of Ibs..
Apparent consumption
thous. of Ibs..
Exports
thous. of lbs_.
Cold-storage holdings
(end of month)
thous. of lbs_.
Lard (included in pork products) :
Production
thous. of Ibs
Exports
thous. of Ibs..
Cold-storage holdings
(end of month)
thous. of Ibs
Prices:
Hogs, heavy, Chicago.. dolls, per 100 Ibs..
Hams, smoked, Chicago
dolls, per lb_.
Lard, prime contract, N. Y. dolls, per lb_.
1919
82
93
48
50
76
97
1919
1919
218
155
259
209
121
96
148
77
219
121
221
124
38
65
122
115
123
139
119
125
154
129
132
151
83
95
117
51
71
62
36
81
65
57
24
75
78
91
72
85
87
102
+4.1
+11.7
+19.6
+26.9
-0.8
+2.1
+86.9
+8.4
+5.8
-1.8
-2.7
-5.7
—35.8
+4.4
-14.7
-40.9
+108. 0
+49.4
+13.5
+29.7
Sheep and Lambs
Sheep movement, primary markets:
1,605
Receipts
thousands
750
Shipments, total
thousands
206
Shipments, stocker and feeder. thousands..
854
Local slaughter
thousands
Lamb and mutton:
Inspected slaughter product.thous. of Ibs. . 32,803
Apparent consumption
thous. of lbs._ 33, 173
Cold-storage holdings (end
of month)
thous. of lbs_.
2,988
Prices:
Sheep, ewes, Chicago. ..dolls, per 100 Ibs.. 7.575
Sheep, lambs, Chicago.. dolls, per 100 Ibs.. 15. 975
+0.7
+0.5
+4.5
-1.4
+1.4
-0.1
-8.6
-8.3
-33.0
-8.0
+20.9
+20.5
-21.8
-13.6
-11.0
-7.4
-14.6
-6.7
+10.2
+1.3
Poultry
Receipts at five markets
Cold-storage holdings
(end of month)
thous. of lbs__
77,309
30,460
37,915
thous. of lbs_.
133. 589
138.253
99.486
341,327
357,864
+4.8
-19.7
+3.5 +39.0
41
TREND OF BUSINESS MOVEMENTS—Continued
ACTUAL DATA
In many cases February figures are now
available and may be found in the
special table on page 25
mi
December
1925
January
YEAR'S TOTAL
January,
1924
( }
or t
decrease
&
from
1923
1924
Per cent
increase (+)
or decrease (—)
RELATIVE NUMBERS
Per ct.
increase
BASE
YEAR
1923
1924
OR
1923
1925
JanuJanuary
from from
DeOct. Nov. Dec. Jan. cember January,
1924
S;
PERIOD
Dec. Jan.
FOODSTUFFS— Continued
Fish
Total catch, prin. fishing ports. _thous. of lbs_. 12,353
Cold-storage holdings, 15th of mo.thous. of lbs_. 68,760
Canfip-d Sfl-Tmon, shipments
nasas
614, 164
Dairy Products
Butter:
Receipts, 5 markets
thous. of Ibs..
Cold-storage holdings, creamery (end of month)
thous. of lbs._
Wholesale price, 5 markets... dolls, per lb_.
Cheese:
Receipts, 5 markets
thous. of lbs._
Cold-storage holdings, American (end of month)
thous. of lbs._
Wholesale price, 5 markets.. -dolls, per lb_.
Eggs:
Receipts, 5 markets
thous. of Ibs..
Cold-storage holdings (case) thous. of Ibs..
11,028
55,009
394, 433
10, 259
52,627
300,041
192,274
204,056
+6.1
39, 118
46,569
42, 615
658, 331
689,754
+4.8
65, 657
.440
45,812
.414
15,246
.519
14, 745
15, 378
14, 399
71
111
64
89
-10.7
-20.0
-35.8
+7.5
+4.5
+31.5
80
85
102
+19.0
+9.3
178
70
116
74
81
70
-3.7
40,506
.225
59
86
1919
91
93
110
54
89
27
88
239
65
1919
88
88
109
92
91
94
+4.3
+6.8
1916-20
1919
212, 033
70
104
1916-20
1919
220, 156
1919
1919
132
74
108
73
181
64
157
65
131
71
111
74
-15.5
+3.2
+2.6
+1.3
1919
1916-20
49
55
60
14
62
153
39
89
43
31
53
2
+24.8
-92.3
-11.7
-83.6
-32.5
-65.9
-55.5
116
108
81
114
-30.2 -200.5
-5.9
-20.2
49, 182
.221
41, 557
. 228
.508
1,059
.634
82
.713
.500
11,830
9,161
102,337
10, 366
6,898
69, 159
15, 368
20,250
155, 574
1920
1920
1920
30
122
100
28
112
102
50
85
108
33
77
97
22
51
67
19
38
45
-12.4
-24.7
-32.4
2,149
4,168
40, 032
2,194
2,945
28, 855
11, 385
13, 523
116, 262
1920
1920
1920
42
113
139
44
129
152
63
45
153
50
61
148
8
40
53
8
28
38
+2.1 -80.7
-29.3 -78.2
-27.9 -75.2
3,096
7,766
487
4,701
5,952
335
8,077
25,546
215
57, 377
136, 885
2,436
63, 970 +11.5
142, 042
+3.8
5,529 +127. 0
1922
1922
1922
109
226
39
171
235
42
132
150
587
91
99
244
65
71
94
99
55
65
+51.8
-23.4
-31.2
-41.8
-76.7
+55.8
14, 701
2,434
20, 132
14, 528
2,413
14,684
2,362
o 20, 491
184, 689
29, 533
216, 432
191, 163
29, 897
257, 549
+3.5
+1.2
+19.0
1919
1913
1919
113
156
287
112
158
303
119
170
257
114
161
246
113
163
282
111
162
-1.2
-0.9
-1.1
+2.2
146, 649
98, 052
153, 465
101, 580
188,645
95, 890
2, 828, 599
1, 157, 692
2,570,294
1, 209, 720
-9.1
+4.5
1922
1922
60
87
62
85
57
91
45
85
48
87
51
90
+4.6
+3.6
-18.6
+5.9
27, 711
28,469
44, 516
599, 447
540, 151
-9.9
1922
62
60
45
30
37
38
+2.7
-36.0
14,703
5,667
515
15, 865
6,899
652
28, 158
16,543
3,537
744, 839
236, 730
89, 890
489, 033
262, 578
68, 812
+10! 9
-23.4
1922
1922
1922
42
30
18
48
48
16
46
23
11
21
16
4
25
17
2
27
20
3
+7.9
+21.7
+26.6
-43.7
-58.3
-81.6
134, 073
274, 510
296, 101
230,919
228,670
330, 2983 3, 675, 189
4,177,984 4,586,630
+11.3
+9.8
1913
1919
63
61
131
70
138
100
88
89
76
48
156 +104.7
91 +89.2
+18.9
+29.5
94, 110
7,056
79,208
3,499
198, 243
196, 574
-0.8
1919
1909-13
61
63
83
118
87
182
37
62
39
29
90 +154.9 +18.8
239 +717. 6 +101. 7
2,996
22,262
169, 218
79,206
-53.2
1913
408
138
1
78
234
19
.046
.061
.067
.084
1913
1913
1913
209
207
189
192
196
185
172
171
160
166
170
160
151
169
160
131
142
147
637, 599
375, 213
293,891
548,358
341, 821
240, 622
3,437,256
3,409,188
4, 025, 828
3, 954, 529
+17.1
+16.0
1919
1919
1919
8 166
1 105
3
37
26
60
23
13
46
6
28
20
6
1,407,855
1, 416, 569
+0.6
1913
189
182
176
153
150
144
-4,4
-20.6
36
39
127
36
37
129
48
42
161
48
44
131
46
33
103
45
39
92
-1.8
+16.7
-10.8
+26.0
+6.4
-29.2
16, 715
14, 921
-10.7
Milk
Total manufacturer's stocks:
CondensedCase goods..
thous. of Ibs.
Bulk goods
thous. of Ibs..
Evaporated, case goods
thous. of Ibs..
Manufacturers' unsold stocks:
Condensed —
Case goods
thous. of Ibs
Bulk goods
thous. of Ibs..
Evaporated, case goods
thous. of lbs._
Exports:
Condensed
<.
thous. of Ibs..
Evaporated
thous. of lbs_.
Powdered
thous. of Ibs
Fluid milk:
Receipts—
Boston (includ. cream) thous. of qts._
Greater New York
thous. of cans..
Production, Minneapolis
thous. of lbs_.
Consumption and distribution by milk plants
(Dairymen's League, N. Y.) :
Total milk consumed or sold.thous. of Ibs..
Fluid milk sold
thous of Ibs
Milk consumed for manufacture of—
Soft cheese, ice cream and
condensed milk
thous. of lbs_.
Milk chocolate and milk
powder
thous. of Ibs
Butter
thous. of lbs_.
American cheese
thous. of Ibs..
Raw:
Sugar
lnT1g t^TIf?
Tmpnrtf
Meltings, 8 ports. .
long tons.. 156, 512
Stocks at refineries
(end of month).
long tons . 36,922
Refined, exports
long tons
863
Cane, domestic:
Receipts at New Orleans
long tons.. 37, 812
Prices:
Wholesale, 96° centrifugal,
N. Y
dolls, per lb._
.053
Wholesale refined, N. Y.
dolls, per lb._
.072
Retail, average 51 cities
index number..
Cuban movement:
Receipts at Cuban ports
long tons.. 92, 726
Exports
long tons
64, 111
Stocks, end of month ..... .long tons . 40, 569
-92.1
-86.5
-13.2 -39.5
— 15.3 -27.4
-8.1 +25.9
193 +587. 6
115 +485. 3
46 +624.4
+16.3
+9.8
+22.1
Coffee
Imports
Visible supply:
World
United States
Receipts, total, Brazil
Clearances:
Total, Brazil, for world
Total, Brazil, for U. S
thous. of Ibs..
114, 113
109,048
137,397
thous. of bags..
thous. of bags..
thous. of bags..
5,388
611
980
5,290
713
874
4,198
670
1,235
10, 997
14,228
+29.4
1913
1913
1913
thous. of bags..
thous. of bags..
923
530
1,042
623
1,134
505
14,094
7,503
13,887
6,989
-1.5
-6.9
1913
1913
130
192
115
128
175
210
122
170
93
135
105
159
+12.9
+17.5
-8.1
+23.4
8,688
7,661
7,831
107, 127
92,406
-13.7
1913
167
95
143
130
105
93
-11.8
-2.2
Tea
Imports . . . _ _
a December, 1923.
..
thous. of Ibs
TREND OF BUSINESS MOVEMENTS—Continued
ACTUAL DATA
In many cases February figures are now
available and may be found in the
special table on page 25
1924
December
YEAR'S TOTAL
1995
January,
1924
January
Per ct.
increase
(
ort>
decrease
&
from
1923
1924
Per cent
increase (+)
or decrease (— )
RELATIVE NUMBERS
BASE
YEAR 1923
OR
PERIOD
1923
1924
Dec. Jan.
1925
January
from
DeOct. Nov. Dec. Jan. cember
January,
1925,
from
Janu*
ary,
1924
75
513
-7.0
+22.2
-5.8
+6.3
+24.1
-7.2
TOBACCO
Consumption (tax-paid withdrawals) :
TjRrgfi cigars
millions
Small cigarettes
_
millions
Manufactured tobacco
and snuff
. thous. of Ibs
Exports:
Unmanufactured leaf
thous. of lbs_.
Cigarettes
millions..
Sales of loose-leaf warehouses
thous. of Ibs;..
Price, wholesale, Burley good leaf,
dark red, Louisville
dolls, per 100 Ibs..
-4.9
+10.2
511
5,442
475
6, 652
504
6,257
6,999
64, 451
6,658
71,008
28,571
35,457
38,191
412, 100
412,675
+0.1
44, 545
838
71, 676
36,150
707
93, 551
50,528
990
76,986
497, 206
12, 328
504, 331
576, 065
10, 591
483, 126
+15.9
-14.1
-4.2
24.50
24.50
TRANSPORTATION
78
342
80
483
101
501
95
413
1913
71
103
103
82
77
96
1909-13
1913
1919
177
554
115
161
512
94
181
361
101
146
434
80
142
433
87
115
366
114
1913
212
212
186
186
186
186
0.0
-12,5
+2.9*
-7.9
+18.4
-19.6
-7.1
+11.8
1915
1915
1915
1913
1913
1919
613
786
340
596
778
322
482
533
281
66
556
694
286
17
468
517
282
-15.8
-25.6
-1.3
-29.7
-32.8
-12.4
173
173
495
580
281
104
92
190
207
191
198
+3.5 +14.3
-2.8
1922
164
82
239
266
189
122
-35.2 +48.7
28.00
1913
1913
81
420
-18.8
-28.5
-15.6 -28.6
+28.7 +21.5
i
River and Canal Cargo Traffic
Panama Canal:
Total cargo traffic
thous. of long tons..
2,266
In American vessels.. thous. of long tons..
1,266
524
In British vessels
thous. of long tons..
Sault Ste. Marie Canal thous. of short tons
1,679
New York State canals, thous. of short tons..
Suez Canal
thous. of metric tons..
2,228
Ohio River, Pittsburgh, Pa., to
Wheeling, W Va
short tons
564, 578
2,305
2,017
25, 158
15, 923
5,365
89, 622
2,184
22, 777
365, 970
246, 033
6, 460, 555
6,281,970
5,156
2,315
2,841
4,456
1,721
2,736
4,325
1,774
2,551
66,325
27, 734
38, 595
68, 214
29,591
38,626
+2.8
+6.7
+0.1
1913
1913
1913
125
224
89
97
151
78
146
230
116
131
226
97
116
197
87
100
147
84
-13.6
-25.7
-3.7
4,885
2,073
2,812
5,126
1,820
3,307
4,635
1,817
2,818
66, 673
27, 940
38, 731
68,823
30,038
38,787
+3.2
+7.5
+0.1
1913
1913
1913
111
179
84
103
145
87
152
234
120
127
211
95
109
166
87
114
146
102
+4.9 +10.6
-12.2 +0.2
+17.6 +17.4
1,907
942
517
2,427
1,402
590
25,892
14, 666
6,353
72, 037
2,032
25, 459
Ocean Transportation
Entrances, vessels in foreign trade:
Total
.
.thous. of net tons..
American
thous. of net tons..
Foreign
. thous. of net tons _
Clearances, vessels in foreign trade:
Total
thous. of net tons..
American
thous. of net tons..
Foreign
thous. of net tons..
Freight rates, Atlantic ports to:
United Kingdom weighted index number..
All Europe
weighted index number..
1920
1920
27.8 27.5 31.8 32.2 29.9 29.8
25.1 24.9 28.1 28.1 26.8 26.9
-0.3
+0.4
+3.0
-3.0
+7.3
+8.4
+8.0
Freight Cars
Surplus (daily av. last week of month):
Box
number
Coal
number
Total
_
_
number..
Shortage (daily av. last week of month):
Box
number
Coal
number..
Total
number
Cars in bad order:
Total end of month
cars..
.
Ratio to total in use
per cent
Car loadings (monthly totals) :
Total
thous. of cars
Grain and grain products.. thous. of cars..
Livestock
thous. of cars
Coal and coke
thous. of cars..
Forest products
thous of cars
Ore
thous. of cars..
Merchandise and misc
thous. of cars..
-12.1 +38.7
-35.5 +3.2
-19.7 +26.6
117, 434
108, 189
266, 252
103, 209
69, 736
213, 921
74, 415
67, 578
169, 036
1919
1919
1919
158
198
165
91
89
89
37
65
52
90
110
97
27
30
101
61
44
406
1,678
1,894
4,598
1919
1919
1919
(10)
1
9
45
19
4
19
7
1
3
1
(10)
190, 979
8.3
186, 539
8.1
161, 569
7.1
1913
1913
104
101
106
104
125
121
124
121
125
122
122
119
-2.3 +15.5
-2.4 +14.1
4,350
237
180
932
320
51
2,630
3,555
197
146
861
265
40
2,046
3,362
172
145
827
255
33
1,930
1919
1919
1919
1919
1919
1919
1919
119
134
123
115
121
33
125
96
102
101
111
103
20
96
126
163
116
108
114
109
133
117
137
116
104
113
59
126
125
140
126
125
129
31
131
122
116
102
115
107
25
102
-18.3
+5.7
-16.9 +14.5
-18.9
+0.7
-7.6 +4.1
-17.2
+3.9
—21.6 +21.2
-22.2 +6.0
350, 619
88,674
484, 774
383,735
65,842
333, 433
91, 721
468, 986
385, 092
51, 387
0
38, 427
4, 625, 582
1, 147, 652
6,359,415
4,944,977
982, 932
457, 596
4, 347, 918
1, 076, 618
5,985,671
4, 557, 704
984, 254
429,440
-6.0
-6.2
-5.9
-7.8
+0.1
-6.2
1913
1913
1913
1913
1913
1913
195
176
194
214
116
122
188
159
184
212
86
126
248
144
224
222
212
158
215
137
198
206
156
139
205
158
198
210
145
138
198
154
190
211
110
-3.2 +5.2
-2.4 -3.3
-4.1 +3.4
+0.6 -0.4
-24.3 +28.1
6,320
5,202
2,800
5,982
5,215
2,724
72, 575
55, 885
34, 249
72, 758
61, 610
34,088
+0.3
+10.2
-0.5
1913
1913
1913
176
74
136
174
222
131
174
216
134
152
224
121
171
233
131
183
222
135
+7.3
-4.9
+3.0
+5.7
-0.8
+2.8
11, 314
17.6
10, 791
16.8
1919
1919
67
67
69
70
71
72
74
75
72
73
73
73
+0.4
0.0
+4.8
+4.3
143
143
141
126
92
113
(10)
(10)
+125.9
+46.7
2 +302.0
-96.4
-97.7
-91.2
Railroad Operations
Revenue:
Freight
.
thous. of dolls.. 362, 368
Passenger
thous. of dolls.. 90, 845
Total operating .
thous. of dolls _ 505, 523
Operating expenses
thous. of dolls.. 381,415
Net operating income
thous. of dolls. _ 86, 988
Freight carried
mills, ton-miles.- 34,998
Pullman company operations:
5,887
Revenue
thous. of dolls. _
5,470
Expenses
thous. of dolls
2,719
Passengers carried
thousands
Locomotives in bad order:
11, 266
Total end of month
number
17.5
Ratio to total in use
per cent..
» Relative number less than 1.
a
December, 1923.
43
TREND OF BUSINESS MOVEMENTS—Continued
ACTUAL DATA
Inlmany cases February figures are now
available and may be found in the
special table on page 25
( }
1924
December
January,
1924
January
crease
or t
de-
BASE
YEAR
1924
YEAR'S TOTAL
1925
PERIOD
OR
from
1923
1924
Per cent
increase (+)
or decrease (— )
RELATIVE NUMBERS
Per ct.
increase
1923
1923
1925
1924
January
from
DeJan. Oct. Nov. Dec. Jan. cember
Dec.
January,
1925,
from
January,
1924
TRANSPORTATION-Continued
Equipment Installations
Locomotives (Am. Ry. Assn.) :
64, 824
Owiip-d (find of month)
number
64,871
64, 989
Tractive power
thous. of Ibs 2,589,359 2, 590, 525 2, 552, 695
295
167
Installed during month
number
271
7,456
15, 229
Tractive power
.. thous. of Ibs. . 12,311
213
Retired during month
number
304
178
6,242
9,724
4,448
Tractive power
thous of Ibs
280
287
439
Unfilled orders (end of month) number..
81
14
64
Building in R. R. shops
number
Freight cars (Am. Ry. Assn.)":
Owned (end of month)
number 2,337,229 2, 341, 109 2,310,032
201, 288
Capacity
mills, of lbs._ 207, 172 207, 626
6,763
11, 768
15, 589
Installed during month
number
1,103
623
1,415
Capacity
mills, of Ibs. .
7,867
12, 329
11,918
Retired during month
number
654
976
1,033
Capacity
mills, of Ibs
58, 910
Unfilled orders (end of month) ...number-- 54, 202
21, 696
5,285
6,478
2,417
Building in R R shops
number
-0.1
0.0
-43.3
-39.4
-29.9
-35.8
-2.4
+26.6
-0.3
+1.5
-38.4
-51.0
+19.7
+40.3
-36.2
+478. 6
+0.2
+0.2
+74.0
+77.0
-34.0
[ -33.0
I +8.7
-18.4
+1.3
+3.1
-24.5
-22.0
-36.2
-36.7
+171. 5
+118. 7
Passenger Travel
National parks:
Visitors
Automobiles entered. __
Arrivals from abroad:
Aliens . _
United States citizens.
Departures abroad:
Aliens.
_
United States citizens
Passports issued
number
number--
28, 399
927
38, 129
852
35, 070
1,006
1, 356, 733
149, 418
1,594,488
192, 030
+17. 5
+28.5
1920
1920
43
10
51
14
69
36
54
27
41
13
55
12
+34.3 +8.7
-8.1 -15.3
number
number -
28,098
17, 219
20, 952
8,880
33, 878
15, 638
751,050
276, 243
354, 770
322, 065
-52.8
+16.6
1913
1913
48
72
29
64
24
128
25
91
24
70
18
36
-25.4
-48.4
.number .
number
number..
14, 288
17, 388
7,575
6,183
7,873
8,640
5,723
20, 817
7,598
70, 610
260, 732
126, 256
90, 121
301, 648
146, 378
+27.6
+15.7
+15.9
1913
1913
1913
41
56
320
25
69
389
39
66
405
38
49
404
63 27
58 26
388 441
« 46, 136
« 10, 162
529, 268
120, 177
580, 949
126, 657 I
+9.8
+5.4
1913
1913
351
274
355
267
388
344
381
326
397
327
•8,848
• 10, 979
» 1, 400
108, 323
133, 837
19, 000
+0.6
109, 018
+0.5
134, 520
18, 581 | -2.2
1919
1919
1919
116
109
90
116
108
87
131
123
122
116
100
90
132
122
111
5,589
1,726
3,862
5,189
1,675
3,514
55, 941
19, 612
36,299
59,049
20,043
39,006
+5.6
+2.2
+7.5
1919
1919
1919
153
138
162
160
137
173
160
134
176
156
128
172
171
144
187
172
142
191
3,702
1,513
2,849
3,664
1,619
2,455
38,886
14,685
31,449
37, 587
16, 711
48, 543
-3.3
+13.8
1919
1919
1919
116
160
141
125
176
138
110
153
345
113
124
260
124
149
170
127
164
160
497
208
535
240
1914
1920
1915
1922
1922
113
132
120
108
102
112
135
115
106
97
104
110
115
96
90
104
111
116
96
91
104
54
116
98
91
-0.4
104
117 +118. 9
118
+1.7
99
+1.0
+2.2
93
-38.2
-43.2
-56.7
+8.0
-54.7 -62.2
+14.1 +13.7
PUBLIC UTILITIES
Telephone companies:
Operating revenues
thous. of dolls. . 52, 145
12, 131
Operating income
thous. of dolls*
Telegraph companies:
Commercial telegraph tolls. thous. of dolls. . 9,999
Operating revenues
thous. of dolls.. 12, 285
1,811
Operating income
thous. of dolls..
Central electric stations:
Production, electric power5,545
Total
mills, of kw. hours.1,758
By water power, .mills, of kw. hours. .
3,788
By fuels
mills, of kw. hours..
Consumption of fuels3,635
Coal
thous. of short tons
1,374
Oil
. -thous. of barrels .
3,025
Gas
millions of cu. ft
+54.4
+0.8
-1.8
+2.0
+7.7
+3.0
+9.9
+1.8 +1.0
+10.1 -6.5
-5.8 +16.0
EMPLOYMENT
Number employed, State and city reports:
New York State
thousands
Detroit
thousands
Wisconsin
index number
Illinois
index number
Massachusetts index number
Total pay roll:
New York State
thous of dolls
Wisconsin
index number
Average weekly earnings:
New York State
dolls..
Illinois
index number
Wisconsin
index number
Massachusetts
index number
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
499
95
|—
"
-0.4
—1.1
-7.1
-13.3
+2.6
-6.6
-4.1
-5.6
+3.9
14, 101
14,048
14,874
1914
1915
255
265
250
254
229
262
231 237
263. 267
28.26
28.29
27.81
1914
1915
1922
1922
224
114
222
228
223
110
214
227
221
112
228
188
222
112
226
190
226 227
115 112
229 224
190 190
+0.1 +1.7
-2.6 +1.8
-2.2 +4.7
0.0 -16.3
26.85
28.90
30.65
23.08
17.18
27.09
29.20
30.75
24.02
17.79
26.94
28.64
30.38
23.04
17.38
1914
1914
1914
1914
1914
215
215
214
213
222
215
215
215
215
222
211
214
213
211
221
211
213
218
213
220
214
217
216
215
219
216
220
217
224
227
+0.9
+1.0
+0.3
+4.1
+3.6
+0.6
+2,0
+1.2
+4.1
+2.4
49.8
47.1
49.8
48.5
49.6
48.5
1914
1914
90
93
90
94
90
91
90
91
91
91
91
94
0.0
+3.0
+0.4
0.0
46,316
26, 171
20, 145
34,746
22,082
12,664
30, 508
19,303
11,205
1913
1913
1913
318
261
455
271
242
339
364
299
522
351
282
515
236
264
DISTRIBUTION MOVEMENT
Mail-order houses:
Total sales
thous. of dolls
Sears, Roebuck & Co
thous. of dolls.Montgomery Ward & Co. -thous. of dolls..
• December, 1923,
350, 183
215, 539
134,644
384,890
222, 175
162, 715
+9.9
+3.1
+20.8 1
411 308
329 277
609 383
-25.0 +13.9
-15.6 +14.4
-37.1 +13.0
TREND OF BUSINESS MOVEMENTS—Continued
In many cases February figures are now
available and may be found in the
special table on page 25
1924
December
1925
January
YEAR'S TOTAL
January,
1924
Per cent
increase (+)
or decrease (— )
RELATIVE NUMBERS
ACTUAL DATA
Per ct.
increase
( )
BASE
or t
deYEAR 1923
crease
OR
(-)
PERIOD
1924
from
1923
Dec. Jan.
1923
1924
21,096
12, 134
1,263
5,457
234
1,352
167
2,153
152
330, 663
193, 445
371, 049
215, 473
+12.2
+11.4
1913
1913
692
591
265
220
81,844
90,096
+10.1
1913
1183
21, 369
25, 222
+18.0
1913
795
34,005
40, 258
+18.4
1913
1924
1925
January
from
DeOct. Nov. Dec. Jan. cember
January,
1925,
from
January,
1924
DISTRIBUTION MOVEMENT-Contd.
Ten-cent stores:
Total sales
thous. of dolls. . 61, 205
F. W. Woolworth & Co.__thous. of dolls.. 35, 021
Number of stores operated
1,364
S. S. Kresge Co_
_. thous. of d'olls.. 14, 592
Number of stores operated
256
McCrory Stores Corp
thous. of d'olls..
4,290
Number of stores operated
176
S. H. Kress & Co
thous. of dolls. . 7,302
Number of stores operated
160
Restaurant chains:
Childs Co
thous of dolls
2,057
Chain stores:
J. C. Penney Co_ .
thous. of dolls . 9,947
Number of stores
569
United Cigar Stores Co. . -thous. of dolls.. 8,490
Number of stores
2,572
A. Schulte (Inc.)
thous. of dolls
2,742
Number of stores
255
Owl Drug Co
thous. of dolls. _
1,906
Number of stores
84
Magazine advertising (for
following month)
thous. of lines
1,537
Newspaper advertising
thous. of lines.. 102, 667
Postal receipts, 50 selected
cities
thous. of dolls.. 34, 149
Postal receipts, 50 industrial
cities
thous. of dolls
3,613
Money orders:
Domestic paid (50 cities)—
Quantity
number . 13, 558
Value
thous of dolls
100,098
Domestic issued (50 cities)
Quantity ._ .. ..
number. . 3,573
Value.
_
thous. of dolls.. 34, 002
Foreign issued
thous of dolls
6,503
Internal-revenue taxes collected:
Firearms and shells.
thous. of dolls .
290
Jewelry, watches, and
clocks
thous. of dolls ..
729
Theater admissions "
thous. of dolls..
2,554
Bonds and stocks issued and
conveyances
thous. of dolls..
2,083
Capital stock transfers
thous. of dolls..
1,430
25, 237
14,204
1,366
6,672
259
1,707
176
2,796
160
1,983
1,967
23, 193
23, 338
+0.6
1913
3,934
568
5,389
2,547
1,808
256
1,327
84
3,468
473
5,396
2,447
1,597
250
1,432
80
62, 190
74, 191
+19.3
1913
1,975
93, 088
768
635
317
257
427
370
333
351
494
712
747 1321
591
300
467
499
953
604
664
240
410
382
813
311
293
277
293
269
290
279
3852 1576
3832 4216 4521 1788
-58.8
-59.4
+0.1
-54.3
+1.2
-60.2
0.0
-61.7
0.0
+19. 6
+17.1
+8.2
+22.3
+10.7
+26.3
+5.4
+29.9
+5.3
-3.6
+(X8
-60.5 +13.4
-0.2 +20.1
-36.5 -0.1
-1.0 +4.1
-34.1 +13.2
+0.4 +2.4
-30.4 -7.3
0.0 +5.0
75, 262
74, 788
-0.6
1913
355
219
264
252
344
19, 989
22, 709
+13.6
1919
377
238
290
283
408
269
17, 347
17, 426
+0.5
1913
644
441
489
397
586
408
1,945
92, 741
23, 437
1, 168, 826
24,411
1,158,455
+4.2
-0.9
1913
1919
143
122
159
110
180
129
173
122
126
122
161
111
+28.5
-9.3
+1.5
+0.4
27, 271
26, 031
301, 024
316, 025
+5.0
1919
171
142
158
144
186
148
-20.1
+4.8
2,979
2,859
31, 279
33,704
+7.8
1922
141
123
135
113
155
128
-17.5
+4.2
11, 188
61, 179
10, 867
77, 642
124, 688
946, 957
129, 561
+3.9
1, 014, 184 i -7.1
1919
1919
154
140
140
119
154
147
145
136
174
153
144
94
-17.5
-38.9
+3.0
-21.2
3,127
30, 563
2,716
3,028
29, 118
2,773
32, 213
336, 058
41, 597
35, 770
357, 967
41, 233
-11.0
+6.5
-0.9
1919
1919
1919
172
147
185
160
134
93
161
142
103
155
137
149
189
157
219
165
141
91
-12.5
-10.1
-58.2
+3.3
+5.0
-2.1
1919
76
46
136
133
91
53
-41.4
+15.6
117
88
59
67
55
65
58
140
74
153
+26.4 -36.9
+8.8 +73.9
227 270 287 222
219 169 238 163
1740 2640 9440 3560
220 186 247 173
-22.6 +2.9
-31.6 -19.4
-62.3 +74.5
-29.7 -15.2
219
170
147
4,258
3,279
-23.2
1,602
2,276
4,942
7,577
21,900
74, 878
18, 128
58, 835
-17.2
-21.4
2,633
1,556
4,173
895
45,911
8,654
34, 350
9,490
-25.2
+9.7
1919
1919
178
618
178
797
173
767
102
940
2,369
7,946
1,898
10, 320
2,353
8,446
1,585
10, 800
-0.7
+6.3
-16.5
+4.7
1913
1913
1913
1913
844
47, 477
956
16, 415
537, 504
147, 441
68,969
753, 914
492, 559
179, 656
19, 127
691, 341
6, 178, 604
1, 720, 054
520, 287
8, 418, 945
6, 547, 597
+6.0
1, 963, 554 +14.2
597, 927 | +14.9
9, 109, 074 ! +8.2
1913
1913
437
295
343
346
350
382
366
290
471
435
375
284
1913
513
351
422
362
551
382
116,835
36, 550
4,171
157, 556
106, 045
29, 867
2,734
138, 646
1, 195, 567
358, 681
25, 102
1, 581, 353
1, 323, 445 +10.7
410, 133 +14.3
31, 419 i +25.2
1, 764, 996 +11.6
1913
1913
308
453
272
277
280
310
266
299
364
553
300
339
1913
345
279
293
278
413
8,549
7,772
1923
104
105
112
113
114
3,377
1,456
1,921
2,941
1,346
1,595
1923
1923
1923
108
106
109
109
107
111
121
114
127
122
115
129
124
115
132
3,547
1,082
1,922
441
102
3,363
1,180
1,783
312
88
1923
1923
1923
1923
1923
101
97
102
109
111
101
97
102
111
115
104
89
109
138
127
105
89
109
144
127
1,027
599
960
508
1923
1923
103
105
103
111
110
119
110
119
•
100
77
BANKING AND FINANCE
Life Insurance
(Association of Life Insurance Presidents)
Policies, new (45 companies) :
230
Ordinary
thous. of policies..
903
Industrial
thous. of policies
472
Group
number of contracts
1,134
Total
thous. of policies and contracts..
Policies and certificates issued:
1,242
Total policies and certificates. .thousands..
Group insurance certificates. .certificates.. 109, 080
Amount of new insurance (45 companies) :
Ordinary
_
thous. of dolls.. 676, 188
Industrial
thous. of dolls.. 225, 892
Group
thous. of dolls.. 184, 130
Total insurance
thous. of dolls 1, 086, 210
Premium collections (45 companies) :
Ordinary
thous. of dolls. . 141, 633
Industrial ....
_ thous. of dolls.. 59, 616
4,186
Group
thous of dolls
Total
thous. of dolls.. 205, 434
Admitted life insurance assets (41 companies) :
8,476
Grand total
mills of dolls
Mortgage loans—
3,338
Total
mills, of dolls
1,452
Farm
mills, of dolls..
1,886
All other
mills, of dolls..
Bonds and stocks (book values) :
3,534
Total
mills, of dolls..
1,086
Government
mills of dolls
1,915
Railroad
mills, of dolls..
430
Public utilities
mills, of dolls..
102
All others
mills, of dolls..
Policy loans and premium
1,020
notes
mills of dolls
585
Other admitted assets
mills, of dolls..
i
299 216
179 202
9760 2040
200 204
-32.0 -11.7
-56.5 +189. 2
1913
1913
1
t
317
-17.5
-38.7
-0.4
-23.3
+10.2
+22.4
+52.6
+13.6
115
+0.9
+10.0
125
115
134
+1.2 +14.8
+0.3 +8.2
+1.9 +20.4
106
89
109
153
133
107
89
110
157
132
+0.4
-0.4
+0.4
+2.6
0.0
+5.5
-8.3
+7.8
+41.3
+15.9
110
127
111
130
+0.7
+2.4
+7.0
+17.9
(Life Insurance Sales Research Bureau)
Sales of ordinary life insurance (81 companies) :
1921
144 127 135 128 175
+6. 5
538, 601 6, 591, 552 7, 018, 455
United States total
thous. of dolls.. 744, 111 559, 916
1921
134 154 145 142 182
238, 057 2, 502, 313 2, 803, 004 +12.0
Eastern manuf. district. ..thous. of dolls. . 281, 134 238, 217
1921
+5.1
152 125 138 128 184
120, 740
113, 109 1,454,327 1, 527, 852
165, 469
Western manuf. district... thous. of dolls. .
1921
+0.1
132
93 115 110 149
75,689 1, 090, 943 1, 092, 098
81, 576
Western agric. district
thous. of dolls.. 120, 784
868,841
1921
875, 446
+0.8
62, 662
155 105 121 115 173
60, 148
98,928
Southern district
thous. of dolls..
675, 128
720, 055
+6.7 1 1921
169 122 142 133 183
56, 721
51, 598
Far Western district
thous. of dolls. . 77, 796
" Taxes collected pursuant to the revenue act of 1918 were at the rate of 1 cent for each 10-cent admission charge or fraction thereof, The revenue
all admissions less than 10 cents and the revenue act of 1924, effective as of July 3,1924, exempted all admissions of 50 cents or under.
-20.5 +9.1
-34.7 -17.9
-62.5 +260.6
-30.6 +9.1
-24.8 +4.0
-15.3 +0.1
-27.0 +6.7
-32.5 +7.8
-36.7 +4.2
-27.1 +9.9
act of 1921 exempted
132
154
134
101
110
134
45
TREND OF BUSINESS MOVEMENTS—Continued
ACTUAL DATA
In many cases February figures are now
available and may be found in the
special table on page 25
mi
1925
Decem-
Janu-
YEAR'S TOTAL
January,
ber
1924
ary
1923
1924
Per cent
increase (+)
or decrease (— )
RELATIVE NUMBERS
Per ct.
increase
( }
BASE
or t
deYEAE 1923
crease
OR
(-)
PERIOD
1924
from
1923
Dec. Jan.
1925
1924
Oct. Nov. Dec. Jan.
JanuJanu- ary,
1925,
ary
from from
De- Janucember ary,
1924
BANKING AND FINANCE-Continued
Banking
Debits to individual accounts:
New York City
mills, of dolls.. 27,327
Outside New York City — mills, of dolls.. 21,830
Bank clearings:
New York City
mills, of dolls.. 25, 626
Outside New York City... mills, of dolls. _
18, 234
Federal reserve banks:
Bills discounted
mills, of dolls..
314
1,862
Notes in circulation
mills, of dolls..
Total investments
mills, of dolls..
935
Total reserves..
mills, of dolls..
3,047
Total deposits
mills, of dolls..
2,311
Reserve ratio
*.
per cent..
73.0
Federal reserve member banks:
Total loans and discounts.. mills, of dolls.. 13,068
Total investments
mills, of dolls..
5,531
Net demand deposits
mills, of dolls. _ 13, 254
Interest rates:
New York call loans. .
percent..
3.38
Commercial paper 4-6 mos
par cent..
3.56
Savings deposits, by Federal reserve districts
(balance to credit of depositors) :
Total 846 banks
thous. of dolls 7, 334, 289
Boston, 64 banks
thous. of dolls.. 1,282,074
New York, 30 banks. -thous. of dolls.. 2, 056, 333
Philadelphia,78 banks.thous. of dolls.. 513,283
Cleveland, 18 banks.. .thous. of dolls.. 506,689
Richmond, 91 banks.. thous. of dolls.. 327,880
Atlanta, 96 banks
thous. of dolls,. 234, 515
Chicago, 209 banks
thous. of dolls.. 932, 593
St. Louis, 32 banks
thous. of dolls.. 156, 548
Minneapolis, 15 banks.thous. of dolls.. 94,674
Kansas City, 56 banks.thous. of dolls.. 106, 498
Dallas, 85 banks.
thous. of dolls.. 67,490
SanFrancisco,72banks.thous. of dolls.. 1,055,712
U.S. Postal Savings,
thous. of dolls.. 133,346
New York State Savings
banks .
.... thous. of dolls 3, 388, 832
27,682
22,277
22,114
19,384
238,396
225, 319
263, 531
227, 951
+10.5
+1.2
1919
1919
109
116
109
111
Ill
119
113
107
134
124
136
127
--1.3 +25.2
26, 721
18, 525
20, 689
16, 862
213, 995
189, 818
249, 869
195, 058
+16.8
+2.8
1913
1913
247
301
262
293
274
314
284
290
325
317
339
322
--4.3 +29.2
-1.6
+9.9
274
1,684
715
522
1919
1919
1919
1919
1919
1919
44
89
74
143
100
146
27
77
66
149
103
162
12
67
135
143
115
157
11
70
146
143
114
154
16
71
158
139
119
145
14
64
121
141
117
155
12.7
-9.6
23.5
~- -1.2
-2.0
-{-6.9
-47.5
-16.8
+81.9
-5.5
+13.8
-4.3
11, 239
1921
1921
1919
100
135
104
100
133
106
107
165
122
108
167
124
110
164
125
109
163
123
-0.1
-0.8
-1.8
+9.8
+22.5
+15.8
4.55
4.88
1913
1913
150
90
138
88
74
57
79
59
103
64
110
66
7,352,486 6, 878, 006
1,295,931 1,227,742
979, 938
130, 277
1920
1920
1920
1920
1920
1920
1920
1920
1920
1920
1920
1920
1920
1913
126
117
126
123
135
130
131
119
149
129
135
143
140
331
126
118
125
124
133
130
130
119
149
129
134
144
140
328
132
122
131
127
142
145
135
121
156
129
132
151
147
338
132
123
131
128
145
144
136
122
174
129
130
151
147
338
135
124
134
132
147
145
139
124
173
132
132
151
151
335
135
125
134
133
147
146
137
123
174
134
132
153
151
336
3, 409, 097 3, 168, 327
1913
182
184
192
192
196
198
HrO.6
+7.6
86
86
107
154
956
85
86
106
151
304
83
83
100
188
423
83
83
100
151
290
82
82
88
151
946
82
83
89
177
285
H^0.4
- -0.4
-6.4
+9.4
1919
1919
1919
1913
1913
-1.1
17.0
69.9
-3.6
-3.8
-16.6
+17.4
-6.4
-9.9
1913
663
431
530
387
579
484
16.4
+12.2
1919
1919
103
98
98
92
102
95
104
98
104
97
99
93
-4.8
-4.9
+1.5
+0.2
+20.0
+6.U
3,083
2,265
2,023
393
3,263
78.0
1,991
81.3
13, 051
11, 884
5,488
13,014
3.63
3.63
4,480
2, 058, 549 1,922,678
518, 203
483, 826
506, 884
458, 720
330, 002
293, 099
219,855
231, 278
924, 912
891, 580
135, 025
157, 486
95,908
106,855
68, 434
1, 058, 044
133, 496
92,303
108, 714
64,526
-2.0
+14.9
Hh6.8 -20.3
Hr3.1 -25.0
- -a 2
+6.9
+5.6
+7.1
-1.0
+7.1
0.0 +10. 5
H-0.6 -21.5
-1.4
+5.2
- hO.8 +3.7
rO.6 +16.6
-1.3 +3.9
-0.3 -1.7
-1.4
+6.1
-0.2 +8.0
+2.5
-0.1
-1.1
- -0.1
Public Finance
Government debt:
Interest-bearing
mills . of dolls. . 20,712
Total gross debt.mills, of dolls.. 20,978
Short-term debt
mills, of dolls - .
7,046
40,129
Customs receipts
thous. of dolls
Total ordinary receipts
thous. of dolls.. 570, 792
Expenditures chargeable to
ordinary receipts
thous. of dolls.. 349,875
Money in circulation:
Total
mills, of dolls
4,993
44.03
Per capita..
..dollars
20,789
21,057
21, 574
21,844
7,122
46, 968
171, 600
183,307
582, 764
3, 574, 552
292, 457
260, 765
3,718,303 3, 348, 989
4,752
4,682
41.86
8,541
40, 019
545, 233
3, 912, 307
41.77
Business Failures
Liabilities:
Total commercial- _
thous. of dolls..
Manufacturing
establishments
thous. of dolls..
Trade establishments
thous. of dolls..
Agents and brokers. _
thous. of dolls..
Firms:
Total commercial
number
Manufacturing establishments, .number..
Trad6 CftlblishTTjents
rmmh^r
Agents and brokers
number
45,279
54,354
51, 273
538,643
543, 225
+0.9
1913
226
225
158
136
198
238
15,753
11, 909
24, 655
17, 790
28,875
280,559
209, 943
48, 141
286, 769
203, 191
53, 263
+2.2
-3.2
+10.6
1913
1913
1913
186
293
148
279
204
100
151
168
152
99
165
177
152
283
83
115
24.4 -58.8
257
-9.2 +26.3
620 +645.9 +519. 4
2,317
480
1,757
80
2,108
505
1,538
65
18, 718
18, 919
686
14, 213
1,014
+1.1
+4.8
+8.8
+47.8
1913
1913
1913
1913
138
140
135
170
158
143
165
120
127
116
128
183
124
102
128
183
153
135
158
187
173
136
189
148
185,580 3, 585, 217
3,808,910
+6,2
1913
284
125
181
203
307
1,004,139
559,895
541,441
300, 425
+4.3
+3.4
+3.7
+3.9
1913
1913
1913
1913
217
162
104
318
110
109
114
136
96
74
130
126
101
135
58
89
227
167
110
342
27, 141
2,385
2,040
475
1,464
101
19, 525
2, 872
4,968
13,064
5,208
Jhl.l
20.0
20.8
+fl.9
-5.0
+14.2
+23.1
136
55.8
+8.3
114
112
118
145
50.0
33.1
H7.0
H
57.7
+3.4
+2.9
+3.4
+7.1
13.6
Dividend and Interest Payments
(For the following month)
Grand total .
thous. of dolls.. 455, 080
Divided payments:
Total
.
. thous. of dolls . 158, 580
Indus, and misc. corp
thous. of dolls.. 64,415
Steam railroads
. thous. of dolls . 27, 170
Street railwavs
thous, of dolls
16, 825
201,000
79,300
43,100
29,075
7,125
76,680
41,900
963, 251
28, 130
289, 120
6,650
75,750
77,830
New Security Issues
Total corporation ( Commercial and
Financial Chronicle):
Purpose of issue—
New capital
thous. of dolls..
Refunding
thous. of dolls..
Kind of issueStocks.thous. of dolls..
Bonds and notes
thous. of dolls..
Total corporation (Journal of
Commerce)
thous. of dolls..
56,727
413, 404
95, 193
276,906 2,577,388 3, 119, 430
27, 792
528, 445
510, 825
+21.0
-3.3
1920
1920
75
64
123
130
126
265
104
38
101
266
183
446
81.9 +49.3
67.8
1 +242.5
89, 185
283, 985
70, 401
438, 197
65, 937
238, 762
736,959
2,475,494
862, 323
2,873,387
+17.0
+16.1
1920
1920
105
116
74
151
88
215
63
118
100
180
79
277
+54.3 +83.5
310, 014
473, 272
220,883
3, 601, 459
3, 219, 146
-10.6
1913
194
161
144
280
226
345
+ 52.7 +114.3
227, 259
21.1
+6.8
46
TREND OF BUSINESS MOVEMENTS—Continued
ACTUAL DATA
In many cases February figures are now
available and may be found in the
special table on page 25
1924
1925
December
January
YEAR'S TOTAL
January,
1924
1923
1924
Per cent
RELATIVE NUMBERS
increase (+)
Per ct.
or decrease (— )
increase
(+)
BASE
or de1923
1924
1925
YEAR
Janucrease
OR
Janu- ary,
(-)
PERIOD
1925,
ary
1924
from from
from
De- Janu1923
Dec. Jan. Oct. Nov. Dec. Jan. cember ary,
1924
BANKING AND FINANCE— Continued
New Security Issues— Continued
States and municipalities:
Permanent loans
Temporary loans
New incorporations
thous. of dolls .. 120, 244
thous. of dolls.. 130, 971
thous. of dolls. . 734, 854
1, 132, 168 1,446,689
514, 157
979, 081
9, 370, 653 7, 154, 720
120, 095
53, 375
777, 712
84,257
50, 377
878, 705
11, 969
935, 330
16, 454
812,668
192, 183
9,945
454, 393
7,293
398,672
196, 528
37, 158
66, 075
1,075
2,143
6,895
63, 258
112. 14
60.35
93.00
-0.1 +42.5
-59.2 +6.0
+5.8 -11.5
87
108
103
-4.2 -27.3
-0.8 +15.1
169
158
186
230
40
30
27
23
22
30
17
17
16
15
2,899
43, 434
135. 38
79.97
105. 06
216 353 353
92 325 133
333 426 451
+27.8
+90.4
-23.6
1913
1913
1913
388
225
555
248
125
510
282
314
315
161, 860
-15.8
1919
142
142
91
74, 587
-62.0
1919
154
169
1922
41
1922
32
Agricultural Loans
By Federal farm loan banks:
12, 496
Loans closed
thous of dolls
Balance outstanding
thous. of dolls.. 927, 568
By joint-stock land banks:
8,049
Loans closed
thous. of dolls..
Balance outstanding
thous. of dolls.. 446,429
By War Finance Corporation:12
With banks and livestock loan companiesBalance outstanding- -thous. of dolls. . 39, 105
With cooperative market associations1,100
Balance outstanding ..thous. of dolls..
By Federal intermediate credit banks:
Direct loans and rediscounts9,261
Closed _.
-.
thous. of dolls -.
Balance outstanding. -thous. of dolls- . 62, 267
+23.6
+36.4
+1.8 +14.0
-5.0 -43.8
-2.3 -49.8
-25.5 +137. 8
+1.6 +45.6
Stocks and Bonds
Stock prices, closing:
25 industrials, average dolls, per share..
25 railroads, average
dolls, per share. .
103 stocks, average.
_ .dolls, per share..
Stock sales:
N. Y. Stock Exchange... thous. of shares-Bond sales:
Miscellaneous.
._ _ -thous. of dolls. .
Liberty- Victory
thous . of dolls . .
Total
thous. of dolls. .
Bond prices:
Highest-grade rails.p. ct. of par, 4% bondSecond-grade rails, p. ct. of par, 4% bondPublic utility
p. ct. of par, 4% bond.
Industrial
p. ct. of par, 4% bond
Comb, price index. p. ct. of par, 4% bond.
5 Liberty bonds..
_.p. ct. of par..
16 foreign governments and
city
p. ct. of par
Comb, price index, 166 bonds-.p. ct. of par..
Municipal bond yield
per cent
Gold and Silver
Gold:
Domestic receipts at mint fine ounces. .
Hand output
thous. of ounces. Imports *"
thous. of dolls..
Exports
thous. of dolls..
Silver:
Production
-thous. of fine ozs._
Imports.
thous. of dolls..
Exports
thou. of dolls..
Price at New York
.dolls, perfineoz__
Price at London—pence per standard oz._
134.29
79.15
99.65
42, 876
46, 739
27,762
313, 044
79, 448
392, 492
303,825
48, 638
352, 463
253, 394
91, 693
345, 087
85.45
74.65
70.56
73.94
75.77
101.98
85.82
75.12
70.63
74.61
76.07
102. 21
102. 39
96.55
4.16
103. 24
96.94
4.16
90,816
825, 273
10, 274
39, 675
87, 030
823, 000
4,223
73, 489
5,794
5,864
11, 280
.681
32. 620
5,374
7,304
11, 308
.682
32. 197
1913
1913
1921
187
70
107
193
73
110
202
84
107
213
92
116
231
95
118
+0.8 +20.7
+1.0 +32.5
+5.4 +13.0
233
96
124
+9.0 +68.4
-2.9 +19.9
-38.8 -47.0
-10.2 +2.1
95 96
+0.4 +2.7
99 99
+0.6 +9.8
96 96 ! +0.1 +6.8
105 106
+0.9 +2.1
99 99
+0.4 +5.3
109 110
+0.2 +2.7
111 112
+0.8 +3.7
113 114
+0.4 +3.1
93 93
0.0 -4.1
281,816
+19.4
1913
348
401
262
597
619
675
1,938,252 2,917,741
798, 586
866, 114
2, 734, 838 3, 783, 875
+50.5
+8.5
+38.4
1919
1919
1919
238
29
77
355
39
112
348
19
95
472
22
126
439
34
127
426
21
114
83.59
68.43
66.12
73.09
72.23
99.50
1915
1915
1915
1915
1915
1921
92
89
88
102
93
106
93
91
90
104
94
107
97
98
95
105
99
110
96
99
96
105
99
110
99.60
93.99
4.32
1921
1921
1913
107
109
98
108
110
97
112
114
92
112
113
93
1.082,804
+7.4
9, 557, 634
+4.6
319, 721
-0.9
61, 648 +115. 2
1913
1913
1913
1913
61
106
615
9
50
109
850
4
86 72
113 109
371 374
54 87
61 59
113 112
194
80
519 961
-1.5
-0.7
+51.6
1913
1913
1913
1913
1913
85 84
273 200
182 157
108 106
121 122
101 101
195 217
181 180
119 116
128 122
104
196
216
114
119
97
244
216
114
117
236, 055
74,392 1, 008, 525
796, 768 9, 133, 060
322, 716
45, 136
281
28, 643
4,660
5,980
8,209
.634
33.549
65, 338
74, 454
72, 469
64, 341
73,945
109, 891
i
-4.2 +17.0
-0.3 +3.3
-58.9 -90.6
+85.2
—7.2 +15.3
+22.1
+0.2 +37.8
+0.1 +7.6
-4.0
-1.3
+24.6
FOREIGN EXCHANGE BATES
Europe:
4.78
4.70
4.26
Par.
England
dolls, per £ sterling
.054
.054
.047
France
dolls, per franc
Par.
.043
.042
.043
Italy
!
dolls, per lire..
Par.
.051
.042
Belgium
dolls, per franc..
.050
Par.
.404
.404
.374
Par.
Netherlands
dolls, per guilder
.262
.270
.270
Sweden
. _ dolls, per krone. .
Par.
.194
.193
.173
Switzerland
dolls, per franc
Par.
Asia:
.384
.385
.449
Par.
Japan
dolls, per yen
.357
.305
.353
Par.
India
dolls, per rupee-Americas:
.997
.974
.997
Canada
dolls, per Canadian doll..
Par.
.911
.737
Argentine
dolls per gold peso
.883
Par.
.115
.117
.109
Par.
Brazil
dolls, per milreis
.114
.104
Chile
dolls, per paper peso_.
.113
Par.
Par.
General index foreign exch
index number..
» The corporation's authority to make to new loans expired on Dec. 31,1924, and advancements since that date include
corporation's assets.
.:::
i
i
90
27
23
24
95
98
90
88
24
23
22
93
98
90
92
27
23
25
97
99
99
95
27
22
25
100
100
100
97
28
22
26
100
101
101
98
28
22
26
100
101
100
94
64
90
63
78
69
77
71
77
72
77
73
+1.7
0.0
-2.3
+2.0
0.0
0.0
-0.5
+0.3
+1.1
0.0
+3.2
+1.7
+0.9
+3.2
98 97 100 100 100 100
75 76
87 89 92 94
29 34
35 35 35 36
55 53
57
58 58 58
60 59
61
62 64
61
only expenses incident to the liquidation
+12.2
+14.9
-2.3
+21.4
+8.0
+3.1
+11.6
-14.3
+17.0
+2.4
+23.6
+7.3
+9.6
+8.5
of the
47
TREND OF BUSINESS MOVEMENTS—Continued
ACTUAL DATA
n many cases February figures are now
available and may be found in the
special table on page 25
mi
1925
December
Janu-
333, 174
346, 184
110, 721
14, 436
12, 793
9,084
39, 349
YEAR'S TOTAL
January,
1924
Percent
increase (+)
RELATIVE NUMBERS
Per ct.
or decrease (— )
increase
(
BASE
or-tf
deTEAK 1923
1925
1924
Janucrease
OE
( )
Janu- ary,
PERIOD
ary
1925,
1924
from
from
from
De- Janu1923
Dec. Jan. Oct. Nov. Dec. Jan.( cember ary,
1924
1923
1924
295,506
3, 792, 066
3, 610, 553
-4.8
1913
193
198
208
198
223 232
102, 806
13, 924
11, 402
8,463
35, 178
87,989
10,787
11, 246
5,992
30, 835
1, 157, 056
149, 613
161, 193
92, 268
404, 072
1,096,356
147, 637
139, 258
75,004
366, 477
-5.2
-1.3
-13.6
-18.7
-9.3
1913
1913
1913
1913
1913
129
114
89
190
128
122
93
73
130
136
148
122
90
196
161
136
117
77
173
157
154
125
83
197
174
69, 135
36, 489
77,546
32,950
75, 167
31,954
1, 001, 518
416, 005
995, 075
399, 068
-0.6
-4.1
1913
1913
209
303
231
270
231
285
220
297
44,524
6,294
42, 253
6,523
37, 967
4,099
467, 421
115, 276
466, 471
75, 298
-0.2
-34.7
1913
1913
225
200
230
192
255
223
98, 017
39, 626
11, 165
112, 928
33, 284
10, 651
82, 679
34,812
11,704
1, 079, Oil
346,940
87, 061
980,305
340, 061
72, 345
-9.1
-2.0
-16.9
1913
1913
1913
313
398
384
314
422
592
131, 701
147, 597
106,434
1, 388, 844
1, 237, 161
-10.9
1913
204
40, 098
38,066
32,584
362, 801
424, 916
+17.1
1913
192
27,896
32, 336
38, 202
529, 362
522, 013
-1.4
1913
60, 923 ' 63,104
58,044
719, 712
653, 154
-9.2
70, 759
2,185
62, 313
2,268
57, 605
2,637
770, 540
20,807
751, 145
22, 164
445, 743
446, 577
395, 172
4,167,493
273, 342
27, 862
50, 671
23, 914
115,884
269, 415
29, 210
49, 615
22, 668
113, 136
202, 668
23, 195
40,966
16, 858
84, 863
76, 398
38, 123
77, 948
37, 063
29, 752
10, 702
ary
U. S. FOREIGN TRADE
Imports
Grand total .__
thous. of dolls..
By grand divisions:
EuropeTotal
thous. of dollsFrance...
thous. of dollsGermany
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 dollsArgentina
thous. of dolls .
Asia and Oceania—
Total
thous. of dolls .
Japan
_
thous. of dolls..
Africa, total
thous of dolls
By class of commodities:
Crude materials for use in manufacturing
thous. of dolls. .
Foodstuffs in crude condition and
food animals
thous. of dolls. .
Foodstuffs, partly or wholly
manufactured
thous. of dolls. .
Manufactures for further use in
manufacturing
thous. of dolls..
Manufactures ready for consumption
thous. of dolls..
Miscellaneous
thous. of dolls—
Exports
Grand total, including
reexports
thous. of dolls..
By grand divisions:
EuropeTotal
thous. of dollsFrance
thous. of dolls..
Germany
thous. of dolls. .
Italy
thous. of dolls. .
United Kingdom
thous. of dolls. .
North AmericaTotal
thous. of dollsCanada.
thous. of dolls—
South AmericaTotal
thous. of dollsArgentina
thous. of dolls—
Asia and OceaniaTotal
thous. of dollsJapan
.
thous. of dolls .
Africa, total
thous. of dollsTotal, domestic exports only. -thous. of dolls..
By classes of commodities:
Crude materials for use in
manufacturing
thous. of dolls. .
Foodstuffs in crude condition
and food animals
thous. of dollsFoodstuffs partly or wholly
manufactured
thous of dolls
Manufactures for further use
in manufacturing
thous. of dolls..
Manufactures ready for
consumption,--, „ . , , t^OUS. Of do^ls
Miscellaneous
thous. of dolls..
CANADIAN TRADE AND INDUSTRY
Total trade:
Imports
thous. of dolls..
Exports
thous. of dollsExports of key commodities (quantities) :
Canned salmon
thous. of pounds .
Cheese
... thous. of pounds Wheat. .. _. .
thous. of bushs—
Production:
Pig iron
..thous. of long tons
Steel ingots
thous. of long tons .
Bank clearings
mills, of dolls..
Business failures:
Liabilities
thous. of dollsFirms
- — . number
Bond issues:
Govt. and provincial
thous. of dolls..
Municipal
thous. of dolls. .
Corporation
thous. of dolls..
Newsprint paper:
Production . .short tons..
Shipments
short tons.Stocks
- - -- - short tons—
Exports (total printing)
short tons—
Building contracts awarded- -thous. of dolls—
+3.9
+17.1
143
120
74
184
155
-7.1
-3.5
-10.9
-6.8
-10.6
+16.8
+29.1
+1.4
+41.2
+14.1
213
308
239
278
+12.2
-9.7
+3.2
+3.1
254
215
269
295
256
306
315
355
209
307
344
210
372
481
564
429
404
538
+15.2
-16.0
-4.6
211
198
224
261
292
+12.1 +38.7
177
231
207
218
207
166
231
234
176
169
196
+15.9
-15.4
1913
191
205
200
187
215
223
+3.6
+8.7
-2.5
+6.5
1913
1913
189
264
167
214
205
188
179
158
206
177
181
184
+11.9
+3.8
+8.2
-14.0
4, 590, 147
+10.1
1913
206
191
255
238
215
216
+0.2
+13.0
2,093,415
272, 132
316, 837
167, 532
882, 321
2,444,490
281, 664
440, 538
187, 040
982, 035
+16.8
+3.5
+39.0
+11.6
+11.3
1913
1913
1913
1913
1913
197
234
110
303
250
162
181
140
257
172
233
209
169
335
255
244
287
131
349
256
219
217
173
430
235
216
228
169
346
230
— 1.4
+4.8
-2.1
-5.2
-2.4
+32.9
+25.9
+ 21.1
+ 34.5
+33.3
74, 557
40, 752
1, 086, 168
651, 921
1, 089, 188
623, 166
+0.3
-4.4
1913
1913
160
135
149
121
266
257
186
158
152
113
156
110
+2.0
-2.8
+4.5
-9.1
31, 745
12, 893
23, 874
8,959
269, 318
112, 782
315, 065
116, 998
+17.0
+3.7
1913
1913
157
137
196
196
269
279
221
219
244
234
260
281
+6.7
+20.5
+33.0
+43.9
58,362
26,451
7,020
438, 650
60, 885
27, 875
6,584
440, 438
87,034
47, 637
7,039
389, 057
657, 921
264, 228
60, 671
4, 090, 715
671, 110
250, 320
70, 294
4, 497, 750
+2.0
-5.3
+15.9
+10.0
1913
1913
1913
1913
440
725
208
206
503
915
292
191
371
555
258
254
365 337
606 508
199 291
238 .215
352
535
273
216
+4.3
+5.4
-6.3
+0.4
-30.0
-41.5
-6.5
+ 13.2
168, 5,73
168,194
132,848
1,202,044
1,326,286
+10.3
1913
285
208
254
307
263
263
0.0
+26.6
39, 516
25, 873
13,810
257,478
392, 135
+52.3
1913
105
98
710
415
280
183
-34.5
+87.3
54,388
54,044
59, 315
583, 292
574, 037
-1.6
1913
210
219
223
203
201
200
-0.6
-8.9
53,704
58,271
54,619
563, 718
610, 554
+8.3
1913
154
165
161
154
162
176
+8.5
+6.7
122,093
676
133, 059
997
127, 326
639
1, 477, 759
6,424
1, 588, 183
6,555
+7.5
+2.0
1913
1913
177
87
196
95
217
113
192
131
187
100
204
147
+9.0
+47.5
+4.5
+56.0
60, 946
125,462
58, 376
75, 999
66, 568
70, 355
903, 031
], 028, 530
808, 162
1, 070, 612
-10.5
+4.1
1913
1913
117
398
119
224
123
332
118
382
109
399
104
242
-4.2
-39.4
-12.3
+8.0
8,154
9,385
29, 847
10, 525
3,581
6,103
5,228
2,278
12, 322
43,831
116, 203
242, 817
73, 685
121, 466
214, 630
+68.1
+4.5
-11.6
1913
1913
1913
304
62
685
298
18
147
711
199
171
613
132
322
464
73
356
599
28
73
+29.1 +101. 3
-61.8
+57.2
-79.6 -50.5
23
26
1,652
28
27
1,364
64
41
1,339
871
885
16, 735
594
649
16, 402
31.8
-26.7
-2.0
1913
1913
1913
71
47
196
76
47
173
35
23
221
27
26
206
27
30
213
33
31
176
+21.7
+3.8
-17.4
-56.2
-34.1
+1.9
4,759
216
5,058
284
7,675
283
51,417
2,915
42, 278
2,287
-17.8
-21.5
1913
1913
150
114
553
186
177
122
183
134
343
142
364
187
+6.3
+31.5
-34.1
+0.4
«140, 892
«1, 775
•21, 410
301, 282
86, 727
130, 554
308, 972
87, 242
183, 412
+2.6
+0.6
+40.5
1913
1913
1913
3186
18
347
188
223
819
23
13
54
84
151
165
132
25
571
110, 529
108, 620
16, 493
93, 708
6,538
1, 266, 232
1, 254, 521
1,352,994
1,344,757
+6.9
+7.2
1, 137, 963
314, 248
1, 299, 257
276, 259
+11 2
-12.1
1919
1919
1919
1919
1913
142
148
120
172
67
164
160
131
170
20
168
165
177
181
66
166
166
170
176
77
167
164
174
210
90
180
180
167
190
28
+8.1
+9.2
-4.4
-9.7
-69.0
+9.9
+12.4
+27.3
+11.7
+36.7
5,839
2,388
35, 261
112, 342
111,718
21,954
115,844
28,868
121,420
122,049
20, 989
104,654
8,935
• December, 1923.
O
-5.1 +11.3
+3.6 +59.1
+36.6
-4.4
-9.0
-5.1 +16.8
PUBLICATIONS OF THE DEPARTMENT OF COMMERCE
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