Full text of Survey of Current Business : May 1925
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MONTHLY SUPPLEMENT TO COMMERCE REPORTS UNITED STATES DEPARTMENT OF COMMERCE WASHINGTON URVEY OF CURRENT BUSIN MAY, 1925 No; 45 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 service figures from other sources generally accepted by the trades, the authority and responsibility for which are noted in the "Sources of Data" on pages 160-163 of the February, 1925, issue Subscription price of the SURVEY o* PURRENT BUSINESS is $1.50 a year; single copies (monthly), 10 cents; quarterly issues, 20 cents. Foreign subscriptions, $2.25; siiigle copies (monthly issues) including postage, 14 cents; quarterly issues, 3\ cents. Subscription price oif 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 tader, express order, orf New Ydrk d#aft. Currency at sender's risk. Postage stamps or foreign money not accepted WASHINGTON : GOVERNMENT PRINTING OFFICE : J INTRODUCTION The SUBVEY OF CURRENT BUSINESS is designed to present each month a picture of the business situation oy 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 tnore important comparisons only are given in the table entitled u 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 every week, to subscribers in the United States. The leaflets are usually mailed on Thursdays, and give such information as has been received during the preceding wfeek.'. The information contained in these leaflets is also reprinted in " Commerce Reports/' issued weekly by the Bureau of Foreign and Domestic Commerce. The monthly bulletin is distributed as quickly as it ean t>e 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. RELATIVE NUMBERS To facilitate comparison between different items and render the trend of a movement more apparent, relative numbers (often called "index numbers," a teirm Tef erring more particularly to a special kind of number ^described below) have been calculated. The relative numbers enable the reader to see at a glance the ,genfcral upward or downward tendency of a movement which can not so easily be grasped from the actual figures. In computing these relative nutnbers the last prewar year, 1913, pr in some instances a five-year average, 1009-1913, has been used as a base equal to 100 wherever possible. In many instances, comparable figures for the pre-war years are not available, and in such ceases the year 1919 has usually been taken as the base. For some industries 1919 can not be regarded as a proper base, due to extraordinary conditions in the industry, and some more representative period has been chosen. In many cases relative numbers of loss importance have been temporarily omitted. 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 dent over the base period? while a relative number of 80 means a decrease of 20 per cent from the base. Relative numbers may also be used to calculate the approximate percentage increase or decrease in a movement from one period to the next. Thus, if a relative number at one month is 120 and for a later month it is 144 there has been an increase of 20 per cent. INDJEX NUMBERS When two or more Series of relative numbers are combined by a system of weightings the resulting series is denominated an index numper. The index number, by combining many relative numbers, is designed to show the trend of an entire group of industries or for the country as a whole, instead of for the single commodity or industry which the relative number covers*. Comparisons with the base year or with other periods are made in the same manner as in the case of relative numbers. RATIO CHARTS In many instances, the bharts used in the SUBVET OF CUKBENT 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 eurve is near the bottom or near the, top of the chart. The difference between this and the ordinary form of a chart can be made dear by an example. If a certain item, having a relative number of 400 in one month, increases 10 per cent in the following month, its relative number will be 440, and on an ordinary chart would be plotted 40 equidistant scale points higher than the preceding month. Another movement with a relative number of, say, 50, also increases 10 per cent, making its relative number 55. On the ordinary (arithmetic) scale this item would rise only 5 equidistant points, whereas the previous item tose 40 points, yet each showed the same percentage increase. The ratio charts avoid this difficulty and give to each of the two movements exactly the same vertical rise and hence the slopes of the two lines are directly comparable. The ratio charts compare percentage changes, while the arithmetic charts compare absolute changes. This issue presents practically complete data for the month of March and also Herns covering April, 1925, received up to May 13. As most data covering a particular month's business are not available until from 15 to 30 days after the close of the month, a complete picture of that month's operations, 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 close, and present almost every week the latest data available. MONTHLY S U P P L E M E N T TO C O M M E R C E REPORTS UNITED STATES DEPARTMENT OF COMMERCE WASHINGTON SURVEY OF CURRENT BUSINESS COMPILED BY BUREAU OF FOREIGN AND DOMESTIC COMMERCE BUREAU OF THE CENSUS No. 45 : BUREAU OF STANDARDS 1925 MAY CO N T E N T S TEXT MATERIAL | Preliminary summary for April Course of business in March: General business Summary of indexes of business Review, principal branches, industry and commerce „ . . Jm x BASIC CHARTS Business indicators Wholesale prices compared with peak and pre-war Employment in manufacturing industries Production, stocks and unfilled orders., Comparison of wholesale price index numbers by groups. _ _ Volume of building contracts awarded in 27 States Commercial failures by specified classes of establishments Page 1 29 30 32 33 34 35 . . 35 „ 38 40 43 44 45 in_ 48 Textiles Metals 7 Fuels 8 | Automobiles and rubber 10 I Hides and leather and paper and printing Buttons, glass, and optical goods Building construction and housing 2 Chemicals and oils 4 Foodstllffs and tobacco 6 Transportation 8 pubHc utilities,~empiJyn^ 9 Banki and finance and forei exchange 14 United gtates ford tpade and Canadian 20 dustrv GENERAL TEXT TABLES Business indicators Wholesale price comparisons Business summary Indexes of business (production, prices, sales, etc.) April data TREND OF BUSINESS MOVEMENTS Page trade and NEW MISCELLANEOUS TABLES '„_ 3 5 7 22 25 Debits to individual accounts (seasonal variation eliminated) Common brick shipments, stocks and unfilled orders Canadian milling statistics Consumption of gasoline by States 19 27 27 28 PRELIMINARY SUMMARY FOR APRIL Though higher than a year ago, industrial activity 1924, both in point of floor space and contemplated in April, as seen from reports of the iron, steel, tin- expenditure. Car loadings were smaller than in consuming, and textile industries, was lower than in j March, but were well above those of a year ago, all the previous month. Unfilled steel orders, continuing classes of goods sharing in the increase over April, the decline which began in March, were smaller at the 1924, except grain and livestock. end of April than at any similar period since last gales b mail.order houses and 10.cent chain stores November, while automobile production as reflected were } than in either the ious month or a by factory shipments, was larger than m both the preBank cleajin were smaller than in March vious month and April a year ago. The April ship- , ,, ° ments of completed railroad locomotives, though but larger than in April, 1924 Loans, investment^ larger than a year ago, were smaller than in March. and dePoslts of b,anks ™ntl™ed to mount, while the Unfilled orders for locomotives on April 30 registered earning assets of Federal reserve banks declined, an increase; but the forward business was well below Interest rates showed practically no change. Prices of that of a year ago, while new orders for freight cars stocks, both industrial and railroad, averaged lower placed in April, though larger than in March, were than in the previous month, but were still well above a only half as large as a year ago. Prices of iron and year ago. Business failures in April were more steel products declined in April from both the previous numerous than in either the preceding month or April, month and April, 1924. 1924, while the defaulted liabilities of failing firms, Contracts awarded for new construction were larger though smaller than a year ago, were larger than in in April than in either the preceding month or April, | March. 44165—25f 1 BUSINESS INDICATORS: 1920-1925 (Ratio charts—see explanation on inside front cover. Except for " net freight ton-miles " latest month plotted is March, 1925; February is latest plotted for " net freight ton-miles" while the curve on bank debits has been adjusted for normal seasonal variations and that on manufacturing production for variations in working days) RELATIVE TO 1913 AS 100 300 19201192111922,1923,1924.1925 RELATIVE TO 1919 AS 100 1920,1921 ,192211923.192411925 BANK DEBITS, 141 CENTERS PRICES 25 INDUSTRIAL STOCKS 200 INTEREST RATES, COMMERCIAL PAPER I I I WHOLESALE PRICES < DEPT OF LABOR.) DEPT STORE TRADE (359 STORES) MAIL-ORDER SALES (4 HOUSES) FARM PRICES (DEPT OF AGRICULTURE) GENERAL MANUFACTURING PRODUCTION (64 COMMODITIES) LUMBER PRODUCTION ( 5 SPECiES) AUTOMOBILE PRODUCTION ( PASSENGER CARS AND TRUCKS) FACTORY EMPLOYMENT NET FREIGHT TON-MILES CONTRACTS AWARDED (27 STATES) 20 L 1920' 19211922 1923 1925 !922 1923 1924 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, May 14, April indicators have been included, thus bringing this table up to date. It should be noted that the charts on page 2 show March data as the latest plotted, except for freight ton-miles, which shows February. 1925 1924 MONTHLY AVERAGE COMMODITY 1920 1921 1922 1923 1924 Feb. Mar. May Apr. June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. 1913 monthly average— 100 Production : Pig iron . Steel ingots . Copper Cement (shipments). Anthracite coal Bituminous coal Electric energy (gross revenue sales) . Crude petroleum C otton (consumption) Beef Pork Unfilled orders: U. S. Steel Corp.. Stocks: Crude petroleum Cotton (total) Prices: l Wholesale Index Retail food Retail coal, bitum.... Farm products Business finances: Defaulted liabilities.. Price 25 ind. stocks... Price 25 R. R. stocks. Banking: Clearings, N. Y. City. Clearings, outside Com'l paper int. rateDistribution: Imports (value) Exports (value) Sales, mail-order Transportation: Freight, net ton-miles. 127 142 137 195 98 84 144 69 97 130 139 166 145 139 93 94 507 273 114 134 191 518 287 127 146 199 481 261 118 105 152 290 125 129 115 68 82 85 89 82 76 348 161 346 193 338 193 335 172 337 150 337 126 103 149 147 164 132 152 149 169 138 153 150 171 137 157 152 171 139 160 i 154 170 146 161 151 172 146 161 151 169 151 156 151 161 147 242 205 86 160 201 85 158 202 84 136 213 92 198 231 95 238 233 96 176 238 98 149 235 95 163 233 92 268 282 64 258 265 59 245 277 57 274 314 57 284 290 69 325 317 64 339 322 66 267 273 66 296 309 71 290 308 72 183 148 239 185 134 196 170 160 211 192 207 279 208 255 364 198 238 351 224 214 411 232 216 308 223 179 299 258 219 318 234 193 322 117 121 133 143 168 139 128 135 123 129 54 64 38 107 99 87 87 114 80 131 58 85 130 144 120 153 104 118 101 122 128 164 99 101 120 152 128 80 100 119 135 167 127 122 106 103 126 133 128 173 89 76 102 105 127 197 102 81 79 82 124 203 101 79 70 74 126 225 102 84 74 101 130 228 93 90 80 112 124 228 100 106 97 124 134 231 101 121 98 124 133 139 89 106 116 141 131 74 97 116 283 178 105 119 113 312 189 97 113 117 349 224 109 126 130 407 295 117 130 160 434 285 99 133 151 472 268 109 114 177 448 288 104 115 160 429 287 103 121 145 417 298 89 135 151 399 286 75 116 154 382 295 75 132 153 386 298 77 135 115 397 288 94 146 103 427 289 114 167 118 462 272 106 149 152 170 90 96 102 68 83 81 71 61 55 54 56 69 60 127 165 152 198 234 153 287 125 338 112 323 132 327 113 331 92 334 74 339 59 343 45 349 44 350 84 226 203 207 205 147 153 197 116 149 142 188 124 154 146 190 134 150 146 169 132 152 147 180 134 150 144 175 131 148 141 168 130 147 141 163 129 145 142 163 130 147 143 165 132 150 144 159 139 108 67 229 136 64 228 169 75 197 185 72 198 198 81 158 192 73 428 189 74 214 183 75 160 183 75 149 187 78 161 195 82 257 275 134 205 212 118 230 230 80 226 276 90 264 284 71 230 256 87 249 280 83 258 279 84 263 275 77 253 266 71 294 331 264 140 181 188 177 154 204 212 168 259 201 185 284 223 177 270 215 164 279 217 168 300 203 161 243 137 105 115 139 131 132 133 117 124 :84 132 166 126 149 134 81 94 98 120 135 90 108 98 119 128 i i 1919 monthly average= 100 Production: Lumber ' Bldg. contracts Stocks: Beef. Pork Business finances: Bond prices (40 issues). Banking: Debits outside N. Y. City. Federal Reserve— Bills discounted.... Total reserves Ratio 102 72 86 69 117 102 133 106 129 108 125 103 131 147 139 136 141 124 130 103 119 88 139 90 135 93 140 102 126 105 110 100 121 91 122 83 136 138 167 66 98 42 83 29 70 32 91 34 88 42 103 39 110 33 109 28 111 25 111 21 104 21 91 20 61 28 44 42 46 60 70 59 85 55 94 49 90 41 88 86 87 107 104 108 104 105 105 106 108 110 110 109 110 110 110 110 94 111 111 114 91 95 107 108 100 109 106 106 104 106 101 104 119 107 124 127 106 121 117 132 97 87 91 122 122 28 144 154 39 146 152 19 146 160 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 21 137 154 21 137 154 1 Wholesale and retail prices from Department of Labor averaged for the month; farm prices from Department of Agriculture. > Based on the total computed production reported by 5 associations. Includes southern pine, Douglas fir, western pine, North Carolina pine, and California white pine. The total production of these associations.in 1919 was equal to 11,401,000,000 board feet, compared with a total lumber production for the country 0(34,652,000.000 board feet reported by the centus. COMPARISON OF MARCH WHOLESALE PRICES WITH PEAK AND PRE-WAR (1913 average prices taken as 100) INDEX NUMBERS 100 200 500 300 400 FARM PRODUCTS, AVERAGE PRICE TO PRODUCER 600 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 \ 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 BH LEAD ZINC LUMBER. PINE, SOUTHERN LUMBER, DOUGLAS FIR BRICK, COMMON (NEW YORK) CEMENT STEEL '"I PEAK PRICE PRICE IN MARCH TIN BEAMS RUBBER. CRUDE SULPHURIC ACID 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. S. Department of Agriculture, Bureau of Agricultural Economics: nonferrous metals from the Engineering and Mining Journal-Press. All other prices are from U. S. Department of Labor, Bureau of Labor Statistics. As far as possible all quotations represent prices to producer or at mill. See diagram on page 4. Because of their availability at the time of going to press, May 13, the April price data have here been included, thus bringing this table up to date. It sho hould be noted that the chart on page 4 shows March prices only. ACTUAL PRICE (dollars) PER CENT INCREASE (+) OR DECREASE ( — ) RELATIVE PRICE (1913 average=100) Unit COMMODITIES March, 1925 April, 1925 ! March, 1924 April, 1924 March, 1925 April, 1925 April, 1925, from March, 1925 April, 1925, from April, 1924 FARM PRODUCTS— AVER-AGE PRICE TO PRODUCERS Wheat Corn __ Potatoes Cotton Cottonseed Cattle, beef Hogs Lambs . _ . . Bushel Bushel Bushel Pound Ton Pound Pound Pound 1.640 1.121 .714 .245 38.21 .0618 .1183 .1348 1.405 1.030 .705 .237 37. 94 I .0655 i .1164 .1222 125 125 147 231 190 95 88 184 121 127 153 239 185 99 89 186 207 181 120 204 175 105 158 221 177 167 118 198 174 111 155 200 -14.3 -8.1 -1.3 -3.3 -0.7 +6.0 -1.6 -9.3 +46.3 +31.5 -22.9 -17.2 -5.9 +12.1 +74.2 +7.5 Bushel Bushel .__ Bushel Bushel Bushel Bushel Cwt Pound Pound Cwt Cwt Cwt Cwt 1.689 1.767 1.165 .492 .922 1.353 24.50 .256 .63 10. 200 13. 480 9.175 16. 050 1.549 1.701 1.082 . 454 .875 1.118 24.50 .244 • 54 9.988 12. 575 7. 919 14. 156 128 110 127 128 120 108 212 223 216 118 88 213 202 124 105 126 130 128 104 212 234 212 127 89 212 205 185 179 186 131 147 213 186 200 252 120 161 196 206 170 173 173 121 140 176 186 191 216 117 150 169 182 -8.3 -3.7 -7.1 -7.7 -5.1 -17.4 0.0 -4.7 -14.3 -2.1-6.7 -13.7 -11.8 +37.1 +64.8 +37.3 -6.9 +9.4 +69.2 -12.3 -18.4 +1.9 -7.9 +68.5 -20.3 -11.2 Barrel Barrel Pound Pound Pound Pound Pound Pound 9.035 7.969 .047 .059 .111 .183 .148 .269 8.250 7.038 .045 .056 .111 .183 .153 .282 137 139 197 199 135 131 115 114 139 138 182 186 139 131 118 114 197 207 135 138 154 141 113 162 180 183 127 132 153 141 117 170 -8.7 -11.7 -4.3 -5.1 0.0 0.0 +3.4 +4.8 +29.5 +32.6 -30.2 -29.0 +10.1 +7.6 -0.8 +49.1 Pound.. _. Yard .. Yard Pound Yard Yard Pound Pound .. Pound Square foot. Pound....Pair Pair .430 .069 .110 1.800 1.035 3.780 5.831 .148 .204 .500 .520 6.40 5 15 .420 .067 .106 1.750 1.035 3.780 5. 978 .142 .184 .480 .500 6.40 5.15 195 192 196 212 184 239 171 76 100 171 103 201 153 192 192 180 212 184 239 155 66 85 171 101 201 153 174 201 179 232 184 245 160 80 108 186 116 206 163 170 194 173 225 184 245 164 77 98 178 111 206 163 -2.3 -2.9 -3.6 -2.8 0.0 0.0 +2.5 -4.1 -9.8 -4.0 -3.8 0.0 0.0 -11.5 +1.0 -3.9 +6.1 0.0 +2.5 +5.8 +16.7 +15.3 +4.1 +9.9 +2.5 +6.5 Short ton__ Long ton... Short ton__ Barrel 3.39 10.95 3.52 1.800 3.39 ! 10.76 3.17 1.800 154 216 171 179 154 207 155 186 154 206 144 193 154 203 130 193 0.0 -1.7 -9.9 0.0 0.0 -1.9 -16.1 +3.8 Long ton Long ton... Long ton Pound Pound Pound Pound 22.86 21.30 36.70 .140 .088 .535 .076 21.89 20.13 35.50 .133 .080 .523 .073 155 149 155 87 211 123 118 147 147 155 84 188 111 112 143 145 142 89 201 119 131 137 137 138 85 181 116 126 -4.2 -5.5 -3.3 -5.0 -9.1 -2.2 -3.9 -6.8 -6.8 -11.0 +1.2 -3.7 +4.5 +12.5 46.88 18.50 13.50 45.67 17.50 13. 50 191 201 305 189 190 305 204 201 206 198 190 206 -2.6 -5.4 0.0 +4.8 0.0 -32.5 173 166 21 70 173 162 21 70 173 139 43 70 173 136 42 70 0.0 -2.4 -1.7 0.0 0.0 -16.0 +100.0 0.0 _- _. FARM PRODUCTS-MARKET PRICE Wheat, No. 1, northern, spring (Chicago) Wheat, No. 2, red, winter (Chicago) Corn, contract grades, No. 2, cash (Chicago) _ Oats, contract grades, cash (Chicago) Barley, fair to good, malting (Chicago) Rye, No. 2, cash (Chicago) Tobacco, burley, good leaf, dark red (Louisville) - • Cotton, middling upland (New York) _ Wool, M blood combing, Ohio and Pennsylvania fleeces (Boston) Cattle, steers, good to choice, corn fed (Chicago) _ Hogs, heavy (Chicago) Sheep, ewes (Chicago) . Sheep, lambs (Chicago) FOOD Flour, standard patents (Minneapolis) Flour, winter straights (Kansas City) Sugar, 96° centrifugal (New York)__ Sugar, granulated, in barrels (New York) Cottonseed oil, prime summer yellow (New York) Beef, fresh carcass good native steers (Chicago) Beef, fresh steer rounds No. 2 (Chicago) Pork, smoked hams (Chicago) ! CLOTHING Cotton yarns, carded, white, northern, 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, 55-56 inches, 16-ounce Middlesex (N. Y . ) _ _ _ Silk, raw Japanese, Kansas No. 1 (New York) Hides, green salted, packer's heavy native steers (Chicago) Hides, calfskins, No. 1, country, 8 to 15 pounds (Chicago) . Leather, chrome calf, dull or bright "B" grades (Boston) Leather, sole, oak, scoured backs, heavy (Boston) Boots and shoes, men's black calf, blucher (Massachusetts). Boots and shoes, men's dress welt tan calf (St Louis) FUEL Coal, bituminous, mine run lump, Kanawha (Cincinnati) Coal, anthracite, chestnut (New York tidewater) __ Coke, Connellsville (range of prompt and future) furnace— at ovens Petroleum, crude, Kansas- Oklahoma— at wells METALS Pig iron, foundry No. 2, northern (Pittsburgh) 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) __ BUILDING MATERIAL AND MISCELLANEOUS Lumber, pine, southern, yellow flooring, 1 x 4 , "B" and better (Hattiesburg district) Mfeet Lumber, Douglas fir, No. 1, common, s 1 s, 1 x 8 x 10 (Washington) Mfeet Brick, common red, domestic building (New York) Thousand.. Cement, Portland, net without bags to trade, f. o. b., plant (Chicago district) _ _ Barrel. Steel beams, mill (Pittsburgh) Cwt Pound Rubber, Para Island, fine (New York) Sulphuric acid, 66° (New York) Cwt 1.75 2.10 .346 .70 1.75 2.05 .340 .70 EMPLOYMENT IN MANUFACTURING INDUSTRIES BY MAJOR GROUPS (Drawn from data compiled by U, S. Department of Labor and representing weighted indexes based upon number of wage earners in the respective industries in 1919 . Average monthly employment 1923=100. March, 1925, is latest month plotted) ^.922 1923 1924 FOOD AND - s\ *~*s 1 I ! 1 1 1925 KIN DRED PRODUCTS 1 -X^v> 1 1 % I i i i 1 1 1 LUMBER AND ITS REMANUFACTURE - "^-^ =.._ 1 . .1 A^> : _L. L .1, ">/"""> ^--VN^ i i 0H 1 1 I ! 1 1 TAMPED AND ENAMELED WARE OTHER THAN IRON AND STEEL TOBACCO M/ NUFACTURES 100 1 fS~~^\ '-*\-^. i i i t BUSINESS SUMMARY index and relative numbers based on the 1919 monthly average as 100—except unfilled orders which are based on the 1920 average—enable comparisons to be made of the relative condition of the several phases of business. The use of index and relative numbers is more fully explained on the inside front cover, and details of this summary are given in the table entitled "Indexes of Business," beginning on p. 22.] YEARLY AVERAGE 1934 February March 113 119 124 117 118 119 152 108 122 100 123 105 87 114 149 103 124 94 121 107 71 117 154 147 119 74 135 52 135 63 99 165 83 124 105 185 82 125 - - 64 75 78 96 CHECK PAYMENTS (141 cities— Seasonal adjustment) FACTORY EMPLOYMENT (1919 base) TRANSPORTATION: Net freight ton-mile operation Car loadings (monthlv total) Net available car surplus (end of mo.) _ , March, 1925, from February. 1925 March, 1925, from March, 1924 February March 112 143 123 138 158 109 171 100 117 120 132 114 119 116 172 91 124 95 113 102 81 112 154 83 129 96 117 111 75 126 165 138 + 4.0 + 1.0 + 3.5 +8.8 -7.4 + 12. 5 +7.1 + 66.3 +3.7 + 5.6 +7.7 + 7.1 -6. 1 136 61 145 62 155 62 152 63 148 58 -2.6 -7.9 +8.8 -4.9 96 140 78 102 105 163 80 115 148 366 79 210 108 151 79 109 105 156 76 101 120 177 84 121 + 14.3 + 13.5 + 10. 5 + 19.8 + 14.3 + 8.6 + 5.0 +5.2 64 73 78 97 64 74 79 95 63 73 77 95 67 76 82 97 70 78 83 97 70 78 81 96 72 78 81 96 + 2.9 0. 0 0.0 0.0 + 14.3 + 6.8 + 5.2 + 1. 1 103 93 109 84 116 90 108 89 116 82 128 83 129 85 126 85 -2.3 0. 0 + 16.7 -4.5 115 119 25 108 116 139 109 104 79 110 132 150 106 125 161 112 102 129 102 105 172 107 131 209 +4.9 + 24.8 +21. 5 -2.7 -0.8 + 39. 3 1934 PRODUCTION: Manufacturing (64 commodities— Adjusted) 1 Raw materials, total Minerals _ _ __ Animal products Crops Forest products _ __ Electric power _ _ Building (awards — floor space) STOCKS (45 commodities; seasonal adjustment) UNFILLED ORDERS (relative to 1920) 119 113 135 117 102 121 144 106 SALES (based on value) : Mail-order houses (4 houses) Ten-cent chains (5 chains) Wholesale trade Department stores (359 stores) PRICES (recomputed to 1919 base) : Producers', farm products Wholesale all commodities Retail food Cost of living December January 1923 _ PER CENT INCREASE (+) OR DECREASE (— ) 1925 + 4.0 +2.1 -3.3 i See page 28, January, 1925, issue (No. 41) for details of adjustment. Unadjusted index for current months given in "Indexes of Business," p. 22, this issue. COURSE OF BUSINESS IN MARCH GENERAL BUSINESS Industrial production in March was slightly larger than in February, when account is taken of the longer working time and was also larger than a year ago. Forestry production was also larger than in February on this basis, but the mineral output increased less than the increase in working time. Outside of the increases in automobile and brick and cement production, the two latter being seasonal movements, manufacturing output was close to the February daily rate. Unfilled orders declined and stocks of commodities also were less than at the end of February, except for an increase in raw foodstuffs. Building activity was seasonally larger than in February but 6 per cent less than a year ago. Factory employment was about the same as in February but 4 per cent less than in March, 1924. Sales at both wholesale and retail increased over February in greater proportion than a year ago, except in ten-cent chains. Mail-order sales and sales of grocery chains were particularly heavy in comparison with March, 1924, while the other groups of chain stores except cigar chains gained from 2 to 9 per cent. There was practically no net change in either wholesale or retail prices from February, but increases occurred in comparison with a year ago. The volume of check payments increased 17 per cent over March, 1924. Carloadings were slightly less than a year ago, but the available car supply was 39 per cent larger. Both imports and exports of merchandise were considerably higher than in February or than in March, 1924. Declines occurred in investments, discounts, note circulation, reserves, and deposits of the Federal reserve banks, but the reserve ratio was higher than at the end of February. Member bank loans and discounts were about the same as in February; investments increased, while deposits declined. Interest rates averaged higher and security prices were lower than in February. SUMMARY OF INDEXES OF BUSINESS PRODUCTION Manufacturing production in March, as measured by the index of 64 commodities, increased 4 per cent over February when allowance is made for the longer number of working days, while actual production, irrespective of the length of working time, increased 12 per cent over February. The principal increase over February occurred in the output of automobiles, with a gain of 32 per cent, while the stone and clay products group, due largely to seasonal conditions, increased 25 per cent. Actual output in March was larger than in February for all groups, while, on a working-day basis, increases were made in all groups except foodstuffs, textiles, chemicals and oils, and nonferrous metals. Compared with a year ago, the production index of manufacturing increased 4 per cent, and stood only 1 per cent below the production in the record month of May, 1923, when reduced to an identical workingday basis. The principal increases in production over March, 1924, occurred in the chemical and oil and lumber groups, but increases were noted in all groups except iron and steel, which remained unchanged, and nonferrous metals and foodstuffs, which declined. The lumber group had a higher production index than in any previous month since 1919. RELATIVE PRODUCTION, STOCKS, AND UNFILLED ORDERS FOR MANUFACTURED COMMODITIES (1920 monthly average=100. This chart shows stocks of manufactured commodities only, while adjustment has been made for both stocks and production for their respective seasonal movements. Unfilled orders are principally those for Iron, steel, and building materials. March, 1925, is latest month plotted) 160 150 140 ISO 120 (0 QC UJ CQ 5 100 X UJ The index of raw material output increased 1 per cent over February, in contrast to a decline from February to March in 1924. Compared with a year ago, raw material output increased 2 per cent, all classes of raw materials, except minerals, showing larger marketings or production. Mineral production increased about 2 per cent over February, due to the large gains in petroleum, copper, lead, and zinc, while compared with a year ago, a decline of 3 per cent was due to the decreases in coal production, as gold and silver made the only other declines. Animal products made a seasonal increase in market- ings over February but at a greater rate than a year ago. Compared with a year ago, the index of marketings increased 4 per cent, all commodities participating in the increase except wool, hogs, and poultry. Crop marketings made a seasonal decline in March but at a slower rate than a year ago. The total index increased 6 per cent over March, 1924, due entirely to the doubled marketings of cotton and cottonseed, as the other groups all decreased from a year ago. The forestry production index increased more than last year from February to March and stood 8 per cent above the March, 1924, figures. All groups increased considerably over a year ago. COMMODITY STOCKS The index of commodity stocks, when corrected for seasonal variation, decreased 3 per cent from February but increased 9 per cent over a year ago. An increase occurred .in stocks of raw foodstuffs but declines were made in the other groups. Compared with a year ago, all groups showed larger stocks on hand, especially raw materials. SALES The index of unfilled orders declined 8 per cent during March and was 5 per cent lower than on March 31, 1924. Unfilled orders in the iron and steel industry declined 8 per cent from February and were equal to the bookings on hand a year ago, while building material orders declined 9 per cent from February and 15 per cent from March, 1924. Sales at wholesale increased 11 per cent over February and 5 per cent over a year ago. Compared with February, wholesale trade increased in all lines, especially in shoes and hardware, while, compared with a year ago, meat sales at wholesale were 19 per cent larger; smaller increases were noted in dry goods, hardware, and drugs, and slight declines in groceries and shoes. Mail-order sales were 14 per cent higher than last month and March, 1924. Sales of chain stores were from 6 to 14 per cent higher than in February, except shoes, which increased 27 per cent. Compared with a year ago, grocery chains made the largest relative increase in sales, with 28 per cent, while all other chains showed increases of from 2 to 9 per cent, except cigars, in which a decline of 4 per cent occurred. Department-store sales increased 20 per cent over February and 5 per cent over March, 1924, while stocks held by department stores increased 9 per cent during the month in a seasonal movement and were the same as a year ago. PRICES Prices paid to producers of farm products averaged 3 per cent higher than in February and 15 per cent higher than a year ago. Meat animals, fruits and vegetables, and cotton and cottonseed increased over February, while decreases occurred in the grains, dairy and poultry, and unclassified groups. Grain prices averaged 51 per cent above a year ago, meat animals 39 per cent, and fruits and vegetables 12 per cent, while the other groups declined. COMPARISON OF WHOLESALE PRICE INDEX NUMBERS, BY GROUPS (March, 1925, is last month plotted) 100 19)6 I 44165—25f 1917 2 10 Wholesale prices, as shown by the Department of Labor index, averaged the same as in February at 161 per cent of the pre-war average and increased 7 per cent over a year ago. The increase in food prices tended to counterbalance the declines in all other groups except clothing and miscellaneous, both of which remained unchanged. Compared with a year ago, the marked increases in farm products, food, and miscellaneous items and the smaller increase in chemicals accounted for the increase in the total index in spite of declines in fuels, metals, building materials, and house-furnishing goods. The Federal Reserve Board's regrouping of this index shows no change from February in raw products, as the increase in animal products neutralized the declines in the other groups, while goods destined for producers declined slightly and goods going directly to consumers advanced slightly. The commercial indexes both showed declines in the price level on April 1 as compared with March 1, but increases over a year ago. The cost-of-living index for March showed no change from February, a slight decline in shelter balancing a slight increase in clothing. Compared with a year ago, living costs increased 1 per cent, owing to a 5 per cent rise in the retail food* index, as all other items declined except sundries, for \vhich the increase was less than 1 per cent. EMPLOYMENT The rate of factory employment did not change enough from February to be reflected in the index number. However, small increases occurred in all groups except foodstuffs, which declined 3 per cent, and textiles, lumber, and leather, all of wilich remained unchanged. Compared with a year ago, all industries had less employees on the pay roll, except paper arid printing, the combined index showing a decline of 4 per cent. REVIEW BY PRINCIPAL BRANCHES OF INDUSTRY AND COMMERCE TEXTILES March receipts of wool at Boston were 80 per cent greater than in the previous month, but were less than a year ago. Receipts of foreign wool were more than twice as large as in February and were slightly greater than in March, 1924. Domestic wool receipts, on the other hand, continued small, being only a little larger than in February and less than half those of a year ago. March imports of raw wool were less than either in the previous month or in March, 1924. Wool consumption in textile mills was also slightly less than in February or a year ago. There was greater activity in March on the part of woolen spindles and carpet looms than during February, but the activity of other looms and of worsted spindles was considerably less than during the previous month. Prices of raw wool and of yarn declined as compared with February, while prices of dress goods and suitings were unchanged. Receipts of cotton into sight continued the seasonal decline from February but were more than double the receipts reported for March, 1924. March imports of raw cotton were much smaller than in the previous month or a year ago. Exports of raw cotton, although 10 per cent less than in February, were more than double those of March, 1924. Almost twice as much cotton was exported during the first three months of 1925 as was exported during the corresponding months of the previous year. Cotton consumption by textile mills was 6 per cent greater in March than in February. This increase, however, was not commensurate with the greater number of working days, the daily average production in March being slightly less than in the previous month. Compared with a year ago, however, the March consumption of cotton by textile mills showed an increase of 20 per cent. Stocks of cotton at the end of March continued the seasonal decline, a slight increase in mill stocks being more than offset by the decline in warehouse stocks. Domestic stocks of cotton were 11 per cent greater and the world visible supply 23 per cent greater than at the end of March, 1924. CONSUMPTION AND EXPORTS OF RAW COTTON , ^(March, 1925, is latest month dotted) ^ u 800 Uj Although the number of active cotton spindles was slightly less in March than in February, the total activity in spindle hours showed an increase almost proportionate to the greater number of working days. The activity of cotton spindles was 21 per cent greater in March than a year ago. Orders received, billings, and shipments reported by cotton finishing plants in March were all larger than in the previous month or in March, 1924. Prices of raw cotton and of cotton cloth increased slightly, while prices of cotton yarn remained unchanged from the previous month. 11 SPINDLE ACTIVITY IN COTTON MILLS IRON AND STEEL (March, 1925, is latest month plotted) Stocks of iron ore continued the seasonal decline and were also less than a year ago. The consumption of iron ore and production of pig iron were both larger than for either the previous month or for a year ago. The increase over February, however, can be largely, if not entirely, accounted for by the longer month. The number and capacity of furnaces in blast declined slightly from the February totals, 61 per cent being active in March as compared with 63 per cent in February and 66 per cent a year ago. Pig-iron prices averaged slightly lower in March than in either the previous month or March, 1924. March bookings of malleable castings were 15 per cent greater than in the previous month but 9 per cent less than a year ago. Production and shipments of malleable castings were also greater than in February and less than in March, 1924. Steel-ingot production continued at about the same daily rate in March as during the previous month, the increases over February being almost proportionate to the increased length of the month. Bookings of steel castings were slightly smaller in March than in the previous month, the increase in miscellaneous bookings being more than offset by a decline in bookings of railway specialties. The bookings of both types of steel castings were considerably smaller than in March, 1924. Unfilled orders at the end of March, as reported by the United States Steel Corporation, were 8 per cent less than at the end of February and 2 per cent greater than a year ago. Unfilled orders of steel sheets were also slightly less than at the end of the previous month but were 30 per cent greater than at the end of March, 1924. The production and shipments of steel sheets were larger during March than during either the previous month or a year ago, the increase over February being fully accounted for by the longer month. March imports and warehouse deliveries of raw silk were considerably larger than those in the previous month or in March, 1924. Warehouse stocks, on the other hand, were considerably less than in February, although greater than a year ago. The prices of raw silk at New York averaged 6 per cent lower than for either the previous month or for March, 1924. Imports of burlap, while slightly less than in February, were 29 per cent greater than a year ago. Imports of unmanufactured fibers, however, were greater than in either the previous month or March, 1924. PRODUCTION OF PIG IRON AND UNITED STATES STEEL CORPORATION'S UNFILLED ORDERS (March, 1925, is latest month plotted) 14,000 600 12 The production and shipments of steel barrels were substantially greater in March than in either the previous month or a year ago. Unfilled orders of steel barrels at the end of March, while more than twice the total at the end of March, 1924, were slightly less than at the end of the previous month. Wholesale prices of iron and steel products averaged slightly less than in either the previous month or a year ago. Exports of iron and steel products in March were much greater and imports almost as great as for the previous month; both imports and exports were considerably larger than a year ago. The gross tonnage of vessels completed during the month was much greater than for February and was also larger than for March, 1924. March bookings and shipments of fabricated structural steel were larger than in either the previous month or in March, 1924. Shipments of steel furniture, while slightly larger than in February, were 5 per cent less than a year ago. Unfilled orders of railway locomotives at the end of March, while substantially larger than at the end of ^February, were considerably smaller than a year ago, most of the gain over the previous month being due to the increase in foreign orders. New orders and shipments of locomotives were also larger than in February but less than in March, 1924. New orders for freight cars in March, on the other hand, were less than in the previous month, while shipments increased, which resulted in a considerably smaller number of unfilled orders than at the end of February. Sales of foundry equipment were considerably larger than in February or a year ago; shipments were also larger than for the previous month but less than for March, 1924. Almost as many mechanical stokers were sold in March as in February and considerably more than a year ago; the horsepower of the mechanical stokers sold was much larger than for either of the months with which comparison is made. NONFERROUS METALS The March output of copper mines was larger than that for February by an amount approximately proportionate to the longer month and was also 12 per cent greater than a year ago. The production and exports of refined copper were also greater than for either the previous month or a year ago. While the wholesale price of electrolytic copper averaged slightly lower than in February it was 4 per cent higher than in March, 1924. The stocks of both blister and refined copper at the end of March were larger than a year ago. March sales of tubular plumbing were much lower than during the previous month and hardly half the total for March, 1924. Tin deliveries from warehouses were slightly less than in February but much larger than a year ago. Imports of tin were considerably larger than during the previous month and were more than twice the total for March, 1924. Stocks of tin in the United States at the end of March were considerably larger than at the end of the previous month or a year ago. Wholesale prices of pig tin, on the other hand, averaged somewhat less than for either the previous month or for March, 1924. PRODUCTION AND EXPORTS OF COPPER (March, 1925, is latest month plotted) Zinc production was larger in March than in either the previous month or March, 1924, the increase over February being about proportionate to the longer month. The number of zinc retorts in operation at the end of March was less than at the end of the previous month but was 11 per cent greater than at the end of March, 1924. Stocks of zinc, while slightly larger than at the end of February, were much less than a year ago. Shipments of zinc ore from the Joplin district were considerably smaller than during either the previous month or March, 1924. The price of prime western slab zinc remained the same as in February and was 13 per cent higher than a year ago. RELATIVE PRODUCTION AND STOCKS OF ZINC (1913 monthly average=100. March, 1925, is latest month plotted) 225, 13 Production of lead and shipments of ore from the Joplin district were slightly greater in March than for the previous month and were 40 per cent greater than a year ago. The price of pig lead was lower than for either of the periods with which comparisons are made. cent more than in the previous month and was more than twice that of a year ago. The production, shipments, and stocks of both pneumatic and solid tires and of inner tubes were larger for March than for either the previous month or a year ago. FUELS PRODUCTION, SHIPMENTS AND STOCKS OF PNEUMATIC TIRES (February, 1925, is latest month plotted) The production of both bituminous and anthracite coal was slightly less in March than for the previous month and was considerably smaller than a year ago. Coal prices were on the whole slightly lower than for either February or a year ago. The March production of by-product coke was larger and that of beehive coke smaller than for either the previous month or March, 1924. Coke prices showed a considerable decline as compared with the previous month and with a year ago. PRODUCTION OF BEEHIVE AND BY-PRODUCT COKE (March, 1925, is latest month plotted) Figures collected by the Department of Commerce from dealers of automobile tires show the following comparisons between April 1, 1925, and the previous compilation made as of October 1, 1924: DEALERS' STOCKS OF AUTOMOBILE TIRES APRIL 1,1925 The production of crude petroleum was larger than in February by an amount approximately proportionate to the greater length of the month and was also slightly larger than the production in March, 1924. Stocks of crude petroleum at the end of March were practically the same as at the end of February but were larger than a year ago. The consumption of crude petroleum also showed the effect of the longer month by increasing 13 per cent over February. Petroleum prices in Kansas and Oklahoma averaged slightly higher than in either the previous month or in March, 1924. AUTOMOBILES AND RUBBER The output of both passenger automobiles and trucks increased seasonally as compared with February, the output of trucks also being considerably greater than a year ago. For the first three months of 1925 the production of passenger cars was 20 per cent less and the production of trucks 7 per cent greater than for the corresponding months of 1924. Imports of crude rubber were much smaller than for either the previous month or for March, 1924. The wholesale price of Para rubber averaged 13 per Tires in stock Total casings Balloon casings Inner tubes Solid and cushion tires 1,471,907 104, 895 2, 448, 064 31, 984 OCTOBER 1,1924 Dealers Average report- tires per ing dealer 24, 286 7,237 24, 227 1,691 60.6 14.5 101.0 18.9 Tires in stock 1, 402, 879 135, 366 2, 197, 553 i 30, 583 Dealers reporting 26, 161' 8,305 27,480 i 1, 449 Average tires per dealer 53.6 16.3 79.9 21.1 i Solid tires only. The increase in tire stocks from October 1 to April 1 is due largely to seasonal conditions. Figures collected by a private organization for April 1, 1924, showed stocks of 1,648,993 casings held by 17,797 dealers, an average of 92.6 casings per dealer as against 60.6 casings per dealer on April 1, 1925. HIDES AND LEATHER Total imports of hides and skins were larger in March than in either the previous month or in March, 1924, the increase in sheep, goat, and calf skins more than offsetting the decline in cattle hides. Hide prices showed their customary seasonal decline from the previous month but were slightly higher than a year ago. 14 Exports of sole leather and of upper leather were considerably larger during March than during either the previous month or March, 1924. Leather prices remained unchanged from February but were somewhat higher than a year ago. Belting sales were 19 per cent greater in March than in the previous month and were almost as large as a year ago. The production of boots and shoes increased about 10 per cent as compared with the previous month and was about the same as a year ago. Prices of shoes were slightly higher than for either the previous month or March, 1924. ago, the increase in imports of chemical wood pulp more than offsetting the decline in imports of mechanical wood pulp. NEWSPRINT PAPER PRODUCTION AND MILL STOCKS (March, 1925, is latest month plotted) PAPER AND PRINTING March production and shipments of newsprint paper increased over the previous month by an amount approximately proportionate to the greater length of the month and were also 6 per cent greater than for March, 1924. Imports of newsprint paper were 15 per cent greater than in February and 5 per cent larger than a year ago. The March production of paper-board shipping boxes exceeded that of February but was slightly less than the production a year ago. The operating activity in the paper-board box industry was 78 per cent of normal in March as compared with 76 per cent for the previous month and 83 per cent in March, 1924. Domestic sales of abrasive paper and cloth were slightly less in March than in February or a year ago. Total imports of wood pulp were slightly greater in March than during the previous month or a year BUTTONS AND OPTICAL GOODS The output of fresh-water pearl buttons averaged 43.6 per cent of capacity in March as compared with 41.6 in February and 44 per cent a year ago. Stocks of buttons were slightly less at the end of March than at the end of the previous month or of March, 1924. Orders, production, and shipments of illuminating glassware were substantially larger for March than for either the previous month or for March, 1924. VOLUME OF BUILDING CONTRACTS AWARDED, BY CLASSES (March, 1925, is latest month plotted) PUBLIC AND SEM -PUBLIC IIIMII.I III 15 | creased over both February, 1925, and March, 1924. Contracts awarded for building construction in the j Cement production and shipments made the usual 27 northeastern States increased seasonally from the | increases over February but made a greater relative previous month and were also greater in the value of increase than a year ago, while the increase in stocks the contracts than a year ago. As measured in square was smaller than a year ago. All these items exceeded footage, however, the total building contracts awarded the March 1924, figures. Concrete paving contracts were 6 per cent less than those reported in March, 1924 awarded in March exceeded the paving awards for a all classes of contracts participating in this decline' year ago, due to the increases for city streets. The usual seasonal increases over February took except educational buildings. The value of contracts place in the shipments and stocks of all kinds of enamawarded was greater than a year ago for all classes of eled sanitary ware except in shipments of lavatories. buildings except commercial and residential, the total New orders received in March increased over Februvalue being 49 per cent greater than a year ago. ary, except for sinks, as against declines in orders for Fire losses in the United States and Canada were 3 all classes from February to March last year, while per cent greater in March than in the previous month unfilled orders, on the other hand, declined during and were 17 per cent greater than in March, 1924. March as against an increase a year ago. Compared For the first three months of 1925 fire losses had exwith March, 1924, shipments of baths were 9 per cent ceeded those of the corresponding three months of smaller, while other classes declined about 20 per cent 1925 by 6 per cent. and new orders declined from 14 to 34 per cent. Stocks were about twice as large as a year ago and unfilled BUILDING MATERIALS orders less than half as large. The lumber industry showed larger production, shipments, stocks, orders, and exports than in FebruCHEMICALS AND OILS ary, 1925, or in March, 1924, the only reported excepPotash imports declined slightly from February but tions to this general trend being in shipments and increased over a year ago. Nitrate of soda imports in orders of northern pine lumber, which declined from March were considerably larger than in either previous both periods; shipments of walnut lumber and stocks period. Exports of sulphuric acid and coal-tar dyes of California white pine, which declined from February; declined from February, while fertilizers and vegetable and shipments of Douglas fir and production, ship- dyes had larger export shipments. Exports of all these ments, and stocks of California redwood, which de- commodities were higher than a year ago. Prices of clined from a year ago. Prices of both hardwoods crude drugs declined 7 per cent from February, while and softwoods declined from both periods. Sales at oils and fats rose 9 per cent. The other groups retail yards in the Minneapolis district were about showed only small changes. Compared with a year 40 per cent above both previous periods, while retail ago, all groups except chemicals were higher. stocks increased slightly in each case. Exports of vegetable oils increased over February Flooring production was larger than in February for and also over a year ago, while imports were 50 per both oak and maple varieties. Shipments and orders cent larger than in February but smaller than a year for oak flooring increased over February and stocks ago. Consumption of oleomargarine increased 27 per declined, while for maple flooring the reverse situation cent over February but was 14 per cent less than a existed. Unfilled orders declined 11 per cent during year ago. March in both cases. Compared with a year ago, Cottonseed-oil movement made a seasonal decline increases were made in all items for oak flooring ex- in March. Stocks of cottonseed and production of cept unfilled orders, while for maple flooring all items oil decreased from the previous month but were larger except stocks declined. than a year ago. Receipts and stocks of flaxseed at Production, shipments, and new orders of brick northwestern points declined from February but inwere larger than in February, as shown by reports for creased over a year ago, while shipments of flaxseed clay fire, silica, face, and paving brick. Unfilled exceeded those in February but were less than in orders were larger than at the end of February for face March, 1924. Linseed-oil shipments from Minneapoand paving brick but smaller for the refractory prod- lis were slightly larger than in February but oil-cake ucts. Stocks on hand at the end of March were shipments declined. Both showed increased shipsmaller than a month previous except for paving brick. ments over a year ago. Compared with a year ago, production of face and clay CEREALS fire brick declined, while for silica and paving brick it March showed the usual decline from February in increased. Shipments and stocks, however, were larger than a year ago for all kinds of brick except for receipts and stocks of wheat and also declines from a shipments of face brick, while new and unfilled orders year ago. Increases in shipments from terminal marwere smaller. Architectural terra-cotta bookings in- kets occurred in March, both over February and a BUILDING CONSTRUCTION 16 year ago. Exports of wheat and flour were 40 per cent above February and 73 per cent higher than a year ago. Wheat prices fell about 10 per cent from the February average and flour prices about 8 per cent. Both wheat and flour prices averaged higher than a year ago, spring wheat and flour increasing about 45 per cent and the winter varieties 50 to 60 per cent. Corn receipts and shipments at terminal markets were larger than in February, as contrasted with a decline in the corresponding comparison in 1924. The visible supply and exports also gained over February but grindings declined. Compared with a year ago, the visible suppty was one-third greater but other items were less. The price of corn averaged 6 per cent lower than in February but almost 50 per cent higher than a year ago. Oats receipts and visible supply were smaller than in February but exports were larger. Compared with a year ago, there was a decline in receipts but stocks and exports were from two to three times as large as in March, 1924. The price of oats averaged 14 per cent less than in February and 2 per cent above a year ago. Barley receipts were less than in February but higher than in March, 1924, exports declining from both periods. Barley prices declined from February but were 22 per cent above a year ago. Rye receipts fell off considerably, both from February and a year ago. but exports increased 150 per cent over February and 550 per cent over a year ago. Rye prices fell 14 per cent from the February average but were about double the prices prevailing in March, 1924. Car loadings of grain and grain products were 5 per cent larger than in February but 12 per cent less than last March. Exports of grain and their products, however, increased about 42 per cent over each period. The regular seasonal decline took place in the domestic rice movement in March. Imports increased over February and exports declined. Compared with a year ago, all items declined, except imports, with especially large declines noted in receipts of paddy at southern warehouses and in exports. Car-lot shipments and cold-storage holdings of apples declined both from February and a year ago. Shipments in carload lots of potatoes, onions, and citrus fruits from producing points and receipts of hay at terminal markets all declined from March, 1924. 25 per cent larger than at March 31, 1924. Prices of cattle and steer rounds averaged considerably higher than in February, but carcass beef remained unchanged. The hog movement and slaughter declined about 25 per cent both from February and from a year ago. Stocker and feeder shipments, however, were considerably larger than at either comparative period. Exports of pork products were slightly larger than in February but continued about 30 per cent below the corresponding month of 1924. Cold-storage holdings made the usual seasonal increase but were 4 per cent less than the holdings a year ago. Lard holdings, however, w^ere 75 per cent above March, 1924. Prices of hogs, hams, and lard all advanced considerably over the February averages. Receipts and .slaughter of sheep and lambs increased over both February, 1925, and March, 1924. Total shipments were slightly less than in February, stocker and feeder shipments declining 20 per cent, while, compared with a year ago, total shipments increased slightly and stocker and feeder shipments rose 15 per cent. The seasonal decline in mutton holdings continued, but at the end of March there was an increase of 21 per cent over a year ago. Prices of ewes averaged higher than in February but lambs declined. Poultry receipts were seasonally lower than in February and 12 per cent less than in March, 1924. Coldstorage holdings also made a seasonal decline but were 43 per cent higher than a year ago. Fish holdings were about the same as carried in March, 1924. RELATIVE RECEIPTS OF BUTTER, CHEESE, AND EGGS AT PRIMARY MARKETS (1919 monthly averages=100. March, 1925, is latest month plotted) 300 200 MEATS AND DAIRY PRODUCTS The movement and slaughter of cattle and calves increased considerably over February and also over a year ago. Exports of beef products were greater than in March, 1924. Cold-storage holdings continued their seasonal decline, but at the end of March were 20 17 Receipts and holdings of butter were considerably larger than on March of last year. Butter prices advanced over February in place of the normal decline and were 1 per cent above a year ago. Cheese receipts were 13 per cent above March, 1924, but storage holdings were 2 per cent less. The price of cheese declined slightly from February and was 8 per cent above a year ago. Egg receipts were 53 per cent larger than in the corresponding month last year and cold storage holdings were twice as large. Exports of condensed and evaporated milk both declined slightly from February but were considerably lower than a year ago. Powdered-milk exports were 24 per cent less than in February but 32 per cent higher than in March, 1924. Production of milk in the Minneapolis district was 5 per cent larger than last year at this time. SUGAR, COFFEE, AND TEA The importation of raw sugar was slightly less in March than in the corresponding month of 1924. Meltings, however, were 20 per cent greater, and thus reduced stocks at the end of March to 22 per cent below last year, although seasonally larger than in February. Exports of refined sugar were almost 50 per cent larger than a year ago. Sugar prices advanced slightly over February, except at retail, but were from 25 to 30 per cent less than a year ago. The Cuban crop movement was 2 per cent better than in March, 1924, exports were 11 per cent greater, and stocks on hand exceeded those held in Cuban ports a year ago by 18 per cent. The visible supply of coffee on March 31, both for the United States and for the world, was larger than at the end either of the previous month or last March. Receipts and clearances of coffee at Brazil, while slightly larger than in February, were considerably smaller in March, 1924. Imports, on the other hand, were much larger than during the previous month and were slightly larger than a year ago. Imports of tea were larger during March by 22 per cent than for either the previous month or for March, 1924. 10 per cent larger than in March, 1924. Sales of tobacco at loose-leaf warehouses continued to decline seasonally and were 40 per cent less than a year ago. The price of burley tobacco was unchanged from February but lower than a year ago. SHIPPING The entrances and clearances of vessels in foreign trade, both for American and foreign bottoms, were larger during March than during the previous month. For the first three months of 1925 the tonnage of both entrances and clearances of American bottoms was slightly less than for the corresponding months of 1924, while the tonnage of foreign ships entering and clearing American ports was considerably greater than in the first three months of 1924. Ohio River traffic from Pittsburgh to Wheeling showed an increase from the previous month but a decline from a year ago. RAILROADS Carloadings during March were 25 per cent greater than during the previous month but were slightly less than for March, 1924. All classes of freight participated in the increase over February, while only shipments of ore and of miscellaneous merchandise were larger than a year ago. Surplus freight cars existed in greater numbers than in either February, 1925, or March, 1924. There were more bad-order cars than for the previous month but less than a year ago. SHORTAGE, SURPLUS, AND BAD-ORDER FREIGHT CARS (March, 1925, is latest month plotted) TOBACCO Consumption of tobacco products as shown by tax-paid withdrawals from warehouses increased over the previous month. Only the consumption of cigarettes, however, was larger in March than a year ago, the withdrawals of both cigars and manufactured tobacco showing small decreases. Exports of unmanufactured tobacco, while one-third larger in March than in February, were less than one-half those of a year ago. Exports of cigarettes, on the other hand, were slightly smaller than during the previous month but 44165—25f 3 1922 I 1923 I 1924 PUBLIC UTILITIES The following data submitted by the American Electric Kailway Association show the number of revenue passengers carried by 203 electric railway companies operating 23,285 miles of single-track and 2,666 miles of bus routes. It should be noted that the larger decrease in February is due to that month having one less day in 1925 than in 1924. ELECTRIC RAILWAY PASSENGERS CARRIED Passengers carried Per cent decrease MONTH 1925 January February March _ . __-. 767, 757, 053 701, 659, 023 764, 760, 325 1924 788, 685, 228 733, 587, 299 786, 479, 695 2.66 4.35 2.77 EMPLOYMENT State and city employment reports show little change from February in number of workers employed, except for a gain of 7 per cent in Detroit, paralleling the increased automobile production. Compared with a year ago, all reports showed a decline. Total pay roll for New York State increased over February but declined from a year ago, but weekly earnings of workers increased over both periods in New York and declined from March but remained the same as a year ago in Illinois. Earnings in Massachusetts were the same as in February but less than in March, 1924. Reports of employment-agency operations continue to show a decline in the proportion of applicants registered to jobs registered, but the proportion of applicants is still slightly higher than a year ago. Employees on the civilian pay roll of the Government in Washington numbered 1 per cent less than at the end of February but were slightly more numerous than a year ago. DISTRIBUTION MOVEMENT Sales of mail-order houses and 10-cent chain stores were somewhat larger during March than for either the previous month or for March, 1924, the increase over February being attributable at least, in part, to the longer month. SALES BY MAIL-ORDER HOUSES AND CHAIN IO-CENT STORES (March, 1925, is latest month plotted) 70 2 per cent and newspaper advertising increased 2 per cent. The total magazine advertising placed during the first four months of 1925 and newspaper advertising placed during the first three months was less than during the corresponding months of 1924. The following table presents figures showing, by classes, the linage of national advertising appearing in newspapers of 26 identical cities during the months of February and March, as compiled by Printers Ink Monthly: • NATIONAL ADVERTISING IN NEWSPAPERS (26 identical cities—number of lines) 1 j ! ' . . 1 Automobile advertising _ Automobile accessories Cigars, cigarettes, and tobacco -.. Financial Food, groceries, beverages Hotels and resorts _ Household furniture Men's clothing Musical instruments Radio and electrical February _ . 300, 776 154,971 97 275 259, 753 1, 374, 433 i -.. Railroads and steamships Shoes Toilet articles and medical preparations Women 's wear Miscellaneous 2,462,471 552 372 787,629 1,557,603 2. 772 238 ! 910 427 70, 114 5,044,518 65,297 1, 905. 925 March 3, 108, 327 782, 659 1, 249, 604 821, 342 2,961 261 197, 113 403, 270 279, 761, 741 398 635 597 895, 100 124, 111 4, 702, 449 227, 850 2, 945, 179 Postal receipts at both the 50 largest cities and the second 50 cities increased over the previous month and over March, 1924. LIFE INSURANCE Total new life-insurance business done by 45 companies was larger than for either the previous month or for March, 1924. All classes of policies participated in the increase over the previous month and all but ordinary life-insurance policies were greater in number than in last March. Premium collections on all classes of insurance were likewise larger during March than during February or a year ago. Sales of ordinary life insurance reported by 81 companies were larger for both the United States and for each of the five regional districts than for either the previous month or for March, 1924. BANKING AND FINANCE Magazine advertising for April was 10 per cent greater and newspaper advertising placed in March 24 per cent greater than for the previous month. Compared with a year ago, magazine advertising decreased Check transactions in March, as shown by both debits to individual accounts.and by bank clearings, were larger than in February, due chiefly to the longer month, and were considerably greater than a year ago. For the first three months of 1925 check transactions exceeded those in the corresponding period of 1924 by 21 per cent in New York City and by 11 per cent in the rest of the country. Bills discounted, investments, reserves, deposits, and note circulation of Federal reserve banks were less at the end of March than in the previous month, and bills discounted, reserves, and note circulation 19 were also less than in March, 1924. The investments of Federal reserve member banks were slightly larger than in February and were over a fifth greater than a year ago. Loans and discounts and net demand deposits of member banks, on the other hand, declined from the previous month, but were larger than in March, 1924. LOANS AND DISCOUNTS AND TOTAL INVESTMENTS OF FEDERAL RESERVE MEMBER BANKS (March, 1925, is latest month plotted) BILLS DISCOUNTED AND TOTAL INVESTMENTS OF FEDERAL RESERVE BANKS (March, 1925, is latest month plotted) 3,000 Interest rates both on New York call loans and on commercial paper continued to rise, call money being at the same level as a year ago, though the rate on commercial paper was considerably less than in March, 1924. A further slight decline took place in the outstanding Government debt during March. Customs receipts showed the usual seasonal increase over the previous month and were 5 per cent greater than in March, 1924. Total Government receipts, augmented by the quarterly installment of the income tax, were almost two and a half times the February receipts but were 7 per cent less than the receipts for the corresponding month last year. Government expenditures were larger during March than for either the previous month or a year ago. DEBITS TO INDIVIDUAL ACCOUNTS1 (Seasonal variations eliminated. Index numbers relative to 1919 monthly average as 100) FEDERAL RESERVE DISTRICTS HI clearinghouse centers Boston YEAR AND MONTH New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Dallas San Francisco 78.9 86.8 97.3 85.9 82.3 101. 6 107.6 96.8 102.5 136. 9 154.4 136.3 134.8 78.4 86.7 86.3 96.1 91.8 97.7 96.1 130.2 122.5 126.7 126.0 Minne- Kansas City apolis 1934 January February March April ._ Mav June. July . August _ _ -. September October . ._. November December 1935 January February March _ May June July - 106.1 116.2 107. 6 108.1 116.5 129.7 121.8 123. 4 103.4 114.7 104.5 103.3 115. 9 123.5 114. 6 122.6 109.0 117.7 112.7 116.8 98.6 105. 6 100. 8 99.7 104.1 115. 1 105.6 110.0 108.8 112.8 110.9 112.7 109.2 112.6 109.7 111.3 85.2 99.9 94.6 89.4 106. 9 104.0 108.2 112.2 116.6 111.0 118.0 127.7 103.7 103.6 107.7 114.8 117.7 113.2 116.4 113.5 111.6 103.0 105.6 106.0 96.0 91.3 93. o 96.9 102.4 97.3 103. 9 101.4 112.8 105. 6 118.1 108.0 111.8 106. 2 106. 0 109.1 94.5 94.9 101.2 94.5 109. 6 108.6 109. 7 116.4 122.8 122.2 120.7 123.2 110.5 104.7 110. 6 118.3 114.2 114.1 113.5 122.1 104.4 114.3 103.5 109.4 94.7 94.0 90.2 96.3 107.3 109.8 98.7 108.3 105.8 110.4 107.8 115.7 109.4 114.7 110.0 116.1 106.2 135.7 125. 5 116. 1 88.0 93.3 86.6 93.2 104.9 109.3 101.8 107.8 121.1 124.1 119.0 120.8 142.9 141.9 129.2 132.9 127.7 130.8 127.6 129. 2 123.0 120.3 118. 5 103. 1 109. 7 106. 6 119.3 118.5 119.8 127.1 121.0 125. 7 126. 2 123.4 119.7 110.3 121.8 121.1 95.2 94.8 93.0 118.1 124. 9 120.3 143. 8 156.0 141.4 127.8 128.8 125. 7 - : 129. 3 ! i ' _ _ _ _ _ _ ._ _ _ ! i Compiled from data collected by the Federal Reseue Board, supplementing similar data published in the February, 1924, issue (No. 30) of the SURVEY on page 25 > the method of computation being given on page 24 of that issue. These figures are regularly given in the table of current month's figures in each issue (see page 26 of thi s number). 20 Business failures, though increasing slightly in number, were considerably less in the liabilities reported than in the previous month. All classes of organizations participated in the decline in liabilities, while in numbers both trading and manufacturing establishments increased over February. For the first three months of 1925 the number of failures was greater than a year ago, while the amount of liabilities involved was much less, due to the large decline in the liabilities of manufacturing failures. Dividend and interest payments listed for April were larger than for the previous month or for April y 1924. New incorporations in March were much greater than in February and were almost the same as a year ago. New capital issues by corporations, on the other hand, while larger than in March, 1924, were considerably less than for the previous month. New issues of State and municipal long-term loans in March were larger than in February but less than in March a year ago. Agricultural loans closed by Federal farm loan banks in March increased seasonally over the previous month but were 26 per cent less than a year ago. The balance of such loans outstanding at the end of the month, however, continued to increase, being 12 per cent greater than at the end of March, 1924. Prices of railroad and industrial stocks averaged lower for March than for the previous month and all types of bonds, except railroad bonds of the highest quality, also declined in price. March sales, both of stocks and of bonds, were greater than during February or for March of last year, despite the decline from March, 1924, in Liberty bond sales. GOLD AND SILVER Gold receipts at the mint declined both from February and from a year ago. The Rand output, on the other hand, was larger than for either the previous month or for March, 1924. Imports of gold were twice as large as in February but were only one-fifth of the total for last March. Exports of gold continued to decline, being only one-half the February figure. Silver production, exports, and imports increased from the previous month and imports of silver were larger than a year ago. The price of silver averaged slightly less than in February. BUSINESS FAILURES, BY CLASSES OF ESTABLISHMENTS (Data plotted are 12 months' moving monthly averages. March, 1925, is latest month shown) 1——ALL MANUFACTURERS.^—~( \ ------ LUMBER AND LUMBER -^~!F,ON. STEEL. AND MACHIN BROKEN LINES DENOTE MANUFACTURING ESTABLISHMENTS 21 FOREIGN EXCHANGE TIMBER OPERATIONS DURING SEASON OF 1924-25 Rates of exchange showed little change from the previous month, increases being recorded in Japanese and Chilean rates in terms of United States currency and declines in the French, Dutch, Argentinian, and Brazilian rates. Compared with a year ago, declines took place only in Japanese, Italian, and Brazilian exchange. The general index was slightly less than in February but 9 per cent higher than a year ago. [Compiled by Turpentine and Rosin Producers' Association] TURPENTINE AND ROSIN PRODUCTION Data on the production of gum spirits of turpentine and rosin in the crop season ending March 31, 1925, together with information on the classes of crops worked during the season and stocks held in woods, as compiled by the Turpentine and Rosin Producers' Association, are compared below with the production figures for the season 1923-24 as compiled by the Bureau of the Census of the Department of Commerce in cooperation with the Bureau of Chemistry of the Department of Agriculture. PRODUCTION OF TURPENTINE AND ROSIN, BY STATES, SEASON OF 1924-25 J [Compiled by Turpentine and Rosin Producers' Association] STATE United States Alabama __ Florida Georgia . _ Mississippi and eastern Louisiana... Western Louisiana and Texas North Carolina and South Carolina 3 Turpentine (gallons) Rosin (bar- Per cent Total distrirels of 500 crops pounds) 2 bution worked 26, 072, 200 1 720,766 100.0 14, 930 1, 837, 200 9, 155, 450 9, 932, 000 2, 451, 250 2, 246, 300 450, 000 121, 255 604, 260 655, 512 161, 783 148, 256 29, 700 7.0 35 2 38. 1 9.4 86 1.7 1,183 6 170 5 733 791 733 320 ) CROPS WORKED, 1934-25 SEASON STATE United States Alabama.. Florida Georgia . Mississippi and eastern Louisiana Western Louisiana and Texas North Carolina and South Carolina. _ . Total Virgin 14, 930 1 Yearling during the latter part of February and early March, 1925. basis of 3.3 barrels of rosin to each cask (50 gallons) of turpentine. Figures for North Carolina and South Carolina production, and crops, 1924-25 season, are estimates. Recapitulation of data for 1924-25 (exclusive of North Carolina and South Carolina) Number of operators reporting-_ 1,236 Number of counties producing.180 Average number of casks (50 gallons) of turpentine produced per operation.. 415 Average number of crops per operation 11.8 Average number of casks (50 gallons) of turpentine produced per crop__ 35.1 PRODUCTION OF TURPENTINE AND ROSIN, BY STATES, SEASON OF 1923-24 i [Compiled by the Bureau of the Census in cooperation with the Bureau of Chem istry, U. S. Department of Agriculture] STATE United States Alabama Florida Georgia Louisiana _ Mississippi _ _ North Carolina, South Carolina, and Texas 2 _. _ 1 7 Turpentine (gallons) Rosin (bar- Per cent Total rels of 500 districrops pounds) bution worked 27, 174, 580 1 790,087 100.0 14, 387 2 101 661 9, 746, 739 10, 056, 733 2, 126, 646 2, 432, 207 151 641 660, 009 627, 305 145, 223 162, 231 77 35.9 37.0 7.8 9.0 1 168 5 891 5,371 683 851 710, 594 43, 678 2.6 423 Crop year ended Mar. 31. Combined to avoid disclosing operations of individual establishments. 1 3,293 i 4 964 i 2, 743 168 1 207 1,333 339 1 945 2 023 242 1 098 1 140 289 997 862 791 733 291 294 297 360 184 79 8 2 320 (3) (3) (3) i Exclusive of North Carolina and South Carolina, 2 Estimated. 1 2, 156 1 183 6 170 5 733 1,454 145 923 375 11 (3) (3) 3 Not reported. STOCKS OF TURPENTINE AND ROSIN ON HAND IN WOODS, MARCH 1, 1924 AND 1925 [Compiled by Turpentine and Rosin Producers' Association] TURPENTINE (GALLONS) ROSIN (BARRELS 500 POUNDS) OF STATE United States Alabama.. Florida . Georgia ._ Mississippi and eastern Louisiana Western Louisiana and Texas 1925 1924 1925 1924 457, 550 786, 550 150,045 384, 427 37, 750 283,900 4,600 98, 700 32,600 108,450 348, 500 19, 850 111, 150 198, 600 10, 814 65, 533 12, 861 23,905 36, 932 25,604 116, 846 11, 021 136, 845 94, 111 CENSUS OF MANUFACTURES RETURNS The following table summarizes the results of the 1923 Census of Manufactures for value of products and number of wage earners, by industrial groups: SUMMARY OF MANUFACTURES CENSUS BY GROUPS, 1923 VALUE OF PRODUCTS 1 Survey made 2 Estimated on 8 Third Fourth Fifth year year year (In thousands of dollars) GROUP 1923 All industries 1921 Per cent I increase WAGE EAENERS EMPLOYED (Average number) 1923 1921 j Per jj° \ $60, 481, 136 $43, 653, 283 38.5 8, 763, 233 6, 946, 570 26.2 Food and kindred products . 9, 529, 773 Textiles and their products 9, 460, 904 Iron and steel and their products, not including machinery 6, 828, 808 Lumber and allied products _ 3, 633, 034 Leather and its finished 1, 877, 655 products Rubber products 958, 518 Paper and printing 3, 769, 986 Chemical and allied 5, 706, 520 products Stone, clay, and glass 1, 558, 963 products Metals and metal prodducts, other than iron 2, 556, 999 and steel Tobacco manufactures . . _ 1, 044, 192 Machinery (not including transportation 4, 728, 552 equipment) Musical instruments 282, 532 and phonographs Transportation equipment, air, land, and 5, 333, 480 water 1, 520, 093 Railroad repair shops Miscellaneous industries. 1, 691, 127 682, 318 608, 067 12.2 6, 963, 886 35.9 1, 704, 498 1, 510, 867 12.8 8, 145, 082 17.0 3, 456, 390 97.6 892, 635 2, 456, 608 47.9 931, 748 571, 798 56.1 703, 309 32.5 1, 544, 186 21.6 704, 903 36.0 3, 148, 747 19.7 344, 545 137, 035 527, 589 280, 071 23.0 103, 273 32.7 467, 072 13.0 4, 716, 827 21.0 384, 479 332,782 15.5 1, 025, 918 52.0 347, 619 251, 912 38.0 1, 399, 813 82.7 1, 048, 490 -0.4 296, 514 146, 337 211,920 39.9 149,983 -2.4 3, 235, 075 46.2 907, 961 662, 277 212, 989 32.7 58,329 45,113 29.3 3, 018, 155 76.7 1, 267, 342 19.9 1, 308, 872 29.2 606, 328 523, 430 271, 868 405, 773 49.4 418, 285 25.1 224, 066 21.3 37.1 22 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. Maximum since Jan. 1, 1920 PKODUCTION ( Relative to 1919 monthly average as 100) RAW MATERIALS Grand total 1924 Minimum since Jan. 1, 1920 PER CENT INCREASE (+) OR DECREASE (-) 1925 Febru- March DecemJanuary February ber ary Mar., 1925, from Feb., 1925 March Mar., 1925, from Mar., 1924 i 179 73 100 94 143 120 95 96 155 212 137 121 241 141 188 136 131 145 62 105 41 0 0 17 74 38 57 80 123 176 122 104 0 123 141 117 91 125 121 189 106 111 0 122 153 127 84 117 123 180 119 101 0 127 163 123 92 120 132 188 134 101 0 139 169 132 88 117 113 172 100 98 0 128 161 124 82 108 117 191 97 96 0 141 188 136 77 111 + 3. 5 + 11. 0 -3.0 ~2. 0 0.0 + 10.2 + 16.8 + 9.7 —6 1 + 2. 8 -3.3 + 1. 1 8 5 -13. 5 0. 0 + 15.6 + 22.9 + 7.1 -8.3 -5. 1 138 227 143 177 153 245 390 137 190 80 19 58 64 54 30 21 45 94 105 31 71 143 62 84 139 71 119 107 69 76 131 60 101 85 101 132 138 93 102 177 71 43 390 71 130 114 19 91 163 65 53 154 64 129 102 27 75 122 61 98 107 105 122 111 1 31 91 94 66 154 75 137 139 +8. 8 + 14. 8 + 21.3 23 0 + 8.2 + 57. 1 29 9 + 30.5 + 13.9 + 3.7 -55. 1 + 19.7 28 2 + 10. 0 + 52.5 U Q + 35. 6 + 5.3 246 242 254 405 278 170 49 54 58 50 19 21 87 121 132 98 40 65 71 94 149 89 33 41 158 133 92 84 234 106 119 121 130 83 128 101 81 82 129 69 79 59 75 80 137 71 70 35 7 4 -2.4 + 6.2 + 2. 9 -11.4 40 7 + 5.6 135 133 164 267 160 61 59 51 i 20 24 114 117 105 65 106 117 122 105 47 114 109 104 110 196 129 116 119 106 76 146 112 116 88 67 128 126 129 119 67 160 + 12. 5 + 11. 2 + 35.2 0. 0 + 25.0 + 7.7 + 5.7 + 13. 3 + 63. 8 + 40.4 130 135 129 130 147 151 115 121 171 143 195 125 145 71 68 77 54 32 57 63 69 92 69 71 70 37 123 117 107 106 129 131 85 103 136 104 177 97 122 124 124 109 100 142 138 89 104 141 123 195 102 131 117 112 122 112 104 113 117 109 122 • 141 144 127 83 85 112 106 174 169 106 116 179 149 111 100 104 95 124 115 94 108 127 137 85 99 152 100 172 100 112 129 129 95 112 142 151 94 111 160 125 183 109 133 + 4. 0 + 12 2 +L1 + 3.7 + 11. 8 + 10.2 + 10. 6 + 12. 1 + 5. 3 + 25.0 + 6.4 + 9.0 + 18. 8 + 4.0 + 4.0 + 1.0 + 2. 1 MINERALS Total Petroleum Bituminous coal- _ _ _ Anthracite coal Iron ore * Copper Lead Zinc Gold Silver ___. __ - . _ >_ .. ANIMAL PRODUCTS (marketings) Total Wool * Cattle and calves „ Hogs Sheep Eggs * Poultry * Fish Milk (New York) CROPS (marketings) Total Grains * . . Vegetables* Fruits * Cotton products *.... Miscellaneous crops * _ __ fi 4. -8. 1 -20.2 + 112. 1 -14. 6 FOREST PRODUCTS Total Lumber Pulpwood Gum (rosin and turpentine) * Distilled wood MANUFACTURING Grand total (adjusted for working days) Grand total (unadjusted) Foodstuffs Textiles Iron and steel . Lumber Leather Paper and printing Chemicals, oils, etc . Stone and clay products _ Metals, excepting iron and steel Tobacco Miscellaneous i * Fluctuations between maximum and minimum due largely to seasonal conditions. i - 19 1Z. Q b + 12.0 0.0 + 9.4 + 5.6 + 6. 7 + 11.9 + 1.6 -6.2 + 6.9 + 1.5 23 INDEXES OF BUSINESS—Continued STOCKS (Relative to 1919 monthly average as 100) (Corrected for seasonal variation) Total Raw foodstuffs - Raw materials for manufacture Manufactured foodstuffs Manufactured commodities (Unadjusted index) Total Raw foodstuffs Raw materials for manufacture Manufactured foodstuffs Manufactured commodities UNFILLED ORDERS - PER CENT INCREASE (-|-) OR DECREASE (— ) 1925 1924 Maximum since Jan. 1, 1920 Minimum since Jan. 1, 1920 February March December 154 233 189 115 175 91 73 89 58 86 135 173 118 74 154 136 169 110 79 161 145 184 142 88 152 162 239 187 115 175 84 70 68 56 89 139 186 116 77 155 146 212 103 75 164 116 112 153 40 37 25 63 47 129 $8 117 78 100 130 123 78 62 58 39 62 88 64 43 148 Mar., 1925, Mar., 1925, Feb., 1925 Mar., 1924 February March 155 192 149 87 175 152 187 139 86 174 148 190 130 80 171 -2.6 + 1.6 -6. 5 -7.0 — 1. 7 + 8. 8 + 12.4 + 18.2 + 1.3 + 6.2 156 191 174 82 162 162 219 157 85 169 164 234 137 83 175 160 239 120 73 173 -2. 4 + 2.1 -12.4 -12. 1 -1. 1 + 8.9 + 12. 7 + 16. 5 -2.7 + 5.5 61 46 124 62 49 114 62 50 115 63 50 115 58 46 105 -7. 9 -8. 0 -8.7 -4. 9 0.0 -15.3 78 90 49 77 109 98 63 80 104 65 80 118 90 62 79 99 56 83 109 77 67 79 89 43 80 116 82 68 76 90 46 73 109 88 69 84 107 63 79 121 96 74 + 10.5 + 18. 9 + 37. 0 + 8.2 + 11. 0 + 9. 1 + 7.2 + 5.0 + 2. 9 -3. 1 -1. 2 + 2. 5 + 6.7 + 19.4 49 96 105 148 108 105 120 + 14.3 + 14.3 366 214 255 186 193 276 188 84 55 119 109 106 108 72 140 97 201 143 124 167 93 163 99 200 149 136 184 118 366 184 253 187 192 282 186 151 92 250 155 122 162 107 156 99 236 146 119 175 100 177 105 255 160 131 188 127 + 13. 5 + 6. 1 + 8. 1 + 9. 6 + 10. 1 + 7.4 + 27.0 + 8.6 + 6. 1 + 27.5 + 7.4 -3.7 + 2. 2 + 7.6 210 154 80 101 102 127 115 138 210 124 109 119 101 127 121 138 + 19.8 + 8. 7 + 5.2 0.0 97 99 97 94 97 97 101 . 99 95 102 97 96 97 96 97 96 95 97 97 101 103 99 105 95 96 96 89 96 88 85 93 91 102 90 94 87 96 85 87 90 93 90 86 92 94 101 91 90 87 92 86 90 92 93 92 88 93 95 101 92 92 91 93 87 92 92 90 92 i 89 93 95 102 99 96 ; 95 94 90 : 93 January from from (Relative to 1920 monthly averages as 100) (Iron, Steel, and Building Materials) Total (8 commodities) Iron and steel Building materials WHOLESALE TRADE (Relative to 1919 monthly average as 100) (Distributed by Federal Reserve Districts) Grand total, all Classes Hardware (10 districts) Shoes (8 districts) Groceries (11 districts) Drugs (7 districts) D r y goods ( 9 districts) Meats (2 districts)- ___ _ _ _ _ _ RETAIL TRADE (Relative to 1919 monthly average as 100) MAIL-ORDER HOUSES (4 houses) CHAIN STORES: Ten-cent (5 chains) Music (4 chains) Grocery (27 chains) Drug (9 chains) Cigar (3 chains) Candy (5 chains) Shoe (6 chains) DEPARTMENT STORES: Sales (359 stores) . Stocks (314 stores) EMPLOYMENT ! i (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 _ _ __ 0. 0 -3.2 0. 0 + 1. 1 0. 0 0.0 + 1.0 + 7.6 +4.3 + 4. 4 + 1. 1 +3. 4 +1.1 -4. 2 -7.2 -4. 2 -6.3 -4. 1 -2. 1 + 1.0 -3.9 -3.0 -9. 5 -1. 1 -6.2 -3.1 24 INDEXES OF BUSINESS—Continued Maximum since 1924 Minimum since PEE CENT INCREASE (+) OR DECREASE (— ) 1925 Mar., 1925, Mar., 1925, Feb., 1925 Mar., 1924 + 3.4 -3.4 + 15. 3 + 50.9 + 12. 2 + 39.4 -1. 5 -11.0 -5. 1 Jan. 1, 1920 Jan. 1, 1920 Febru- 235 283 373 186 215 304 180 110 88 114 91 111 76 80 134 113 123 102 138 247 98 131 114 123 104 136 219 99 139 155 110 113 158 176 102 146 172 122 123 154 182 94 146 178 131 126 142 183 96 151 172 138 145 134 195 94 + 5.3 + 15. 1 -5. 6 + 6. 6 -2. 1 248 243 248 346 281 203 300 213 275 208 1S8 114 131 171 162 109 155 121 170 113 152 143 143 196 180 143 182 131 176 113 150 137 141 191 181 144 182 130 175 113 157 157 158 191 165 133 175 135 172 129 160 163 160 191 168 136 179 135 173 127 161 162 157 191 178 136 183 135 173 125 161 161 159 191 174 134 180 134 170 125 0. 0 -0.6 + 1.3 0.0 -2. 2 -1.5 -1. 6 -0.7 -1.7 0.0 + 7.3 + 17.5 + 12.8 0.0 -3.9 -6.9 -^ jL 247 244 249 138 118 146 152 139 154 150 137 153 157 132 167 160 134 169 161 136 167 161 135 168 0.0 -0.7 + 0. 6 + 7.3 -1.5 + 9. 8 249 311 218 375 272 135 122 103 152 165 156 176 116 195 177 154 165 118 194 179 161 186 129 187 169 167 196 133 193 172 169 193 136 201 175 169 183 148 196 173 0.0 -5.2 + 8. 8 -2. 5 -1. 1 + 9.7 + 10.9 + 25. 4 + 1.0 -3.4 267 246 272 142 102 125 163 148 189 160 145 179 165 149 171 168 147 175 167 147 178 169 147 180 + 1.2 0. 0 + 1. 1 + 5. 6 + 1.4 + 0. 6 218 227 134 115 158 140 154 137 167 151 169 151 167 150 161 149 -3.6 i -0. 7 +4. 5 + 8. 8 205 219 186 288 200 | 192 155 139 143 153 149 171 164 147 180 177 175 174 163 144 185 176 i 172 174 166 152 184 173 169 175 167 154 184 174 169 175 165 151 183 172 169 175 165 151 1! 182 173 ! 169 175 i 0. 0 + 1.2 + 4.9 -1. 6 -1. 7 -1. 7 + 0. 6 ary March January FebruMarch Decemary ber from from 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 Unclassified WHOLESALE PRICES Department of Labor Indexes (Relative to 1913) All commodities . . . Farm products Food, etc Cloths and clothing Fuel and lighting - . . Metals and metal products Building material Chemicals House-furnishing goods Miscellaneous .. . . ,__ + 3.1 -2.9 + 10. 6 Federal Reserve Board Regrouping of Department of Labor Indexes (Relative to 1913) All commodities . Producers' goods Consumers' goods > _ _ . _ Total raw products Agricultural productsAnimal products Forest products Mineral products ,_ 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) __ COST OF LIVING National Industrial Conference Board Indexes (Relative to July, 1914) All items weighted Food (Dept. Labor) Shelter Clothing Fuel and light Sundries _ o. o 0 5 +0. 6 0. 0 o.o 25 APRIL DATA The following table gives such April data as have been received to and including May 13, 1925, except wholesale prices of individual commodities, which appear on page 5. Text matter covering April data is given on page 1 1935 1925 April, 1924 ITEM March March April Cotton 22, 409 40, 436 Imports, unmanufactured _ bales 33, 955 Exports, unmanufactured (including linters).. bales __ 734, 697 472, 555 320, 774 478, 583 597, 104 Consumption by textile mills bales 582, 674 Stocks, end of month: Total, mills and warehouses bales. .3, 881, 908 3, 180, 661 2, 840, 520 Mills bales 1, 664, 793 1, 514, 514 1, 329. 901 Warehouses bales 2, 237, 115 1, 666, 147 1, 510, 619 Machinery activity of spindles: 31, 872 33, 413 Active spindles.. thousands 33, 225 Wool thous. oflbs thous. oflbs.. thous. oflbs.. 5,475 27, 411 32, 886 4,075 15, 140 19, 215 9,965 6,954 16, 919 bales.. 45, 157 46, 663 46,040 39, 271 25, 985 25, 662 3,564 3,259 3,233 245 112, 380 4,198 220 103, 080 3,588 230 96, 365 3,348 4,864 4,447 4,208 2.54 22.87 2.76 2.50 21.70 2.73 2.69 23.41 2,94 suit Consump ion (deliveries) Lumber Northern pine: Lumber— Production _ Shipments Orders received LathProduction Shipments M ft. b. m._ M f t b. m M ft. b. m.. 41, 512 37, 389 32, 486 59, 332 41,929 39, 856 52, 718 42,856 48,918 thousands thousands. . 10, 781 9,357 13, 526 8,538 12, 578 15, 098 Flooring Oak flooring: Production . M ft. b. m._ Shipments M ft. n. m__ Orders booked . . M ft. b. m__ Stocks, end of month M ft. b. m.. Unfilled orders, end of month M ft. b. m_. 41, 611 40,564 35, 956 52, 623 46,902 43, 473 44, 432 43, 326 51, 702 47, 349 33, 927 32, 442 25, 867 44,677 45, 938 net tons.. thous. of dolls.. 13, 683 1,543 17, 279 1,999 13,011 1,570 thous. of bbls__ thous. of bbls.. thous. of bbls-. 11, 034 10, 279 20,469 13, 807 14,394 19,882 11,726 12, 771 17, 159 index number.. index number. . index number. . 156 158 204 156 154 197 158 141 208 thous. of bush. thous. of bush.. 683 97 372 117 210 112 163 228 99 154 146 133 367 400 361 274 81 187 Bookings: Quantity Value Architectural terra cotta IRON AND STEEL Furnaces in blast: Capacity.. _ long tons per day Steel ingots, production thous. of long tons Unfilled orders, U. S. Steel Corp., end of month. _ thous. of long tons Wholesale prices: Composite finished steel . dolls, per 100 lbs_ Composite pig iron dolls per ton Composite steel ..dolls, per 100 Ibs RAILROAD EQUIPMENT Locomotives: Shipments- Domestic.. _ Foreign Unfilled ordersTotal.. Domestic . Foreign _ New equipment orders: Freight cars Passenger cars. . Locomotives number.. number.. _ 109 93 16 92 82 10 73 63 10 number.. number number.. 447 351 96 477 362 115 640 586 54 number number number __ 4,679 111 106 5,525 104 84 11,903 170 110 VESSEL CONSTRUCTION Completed during month: Total gross tons.. 23, 966 18,808 15, 526 6,261 36, 510 28,408 4,146 77 83 3,933 71 62 4,089 56 63 2,309 18, 105 6,655 4,322 19,023 7,590 86, 674 97, 702 36, 674 82, 650 89, 898 65, 556 53, 716 56,234 8,500 48, 057 36, 801 4,160 PATENTS ISSUED Total, all classes. Agricultural implements Internal-combustion engines number number. . number NONFERROUS Tin: METALS Stocks, end of month: 5,184 United States long tons World visible supply long tons.. 19,623 7,100 Deliveries (consumption) _ long tons Zinc: Retorts in operation, end of month number. . 86,529 Production thous. of lbs_. 102, 970 Stocks, end of month .thous. of Ibs.. 34, 392 Shipments: By railroads Driveaways By boat AUTOMOBILES _ _ carloads. number of machines number of machines 51, 177 47, 466 1,114 BUILDING AND HOUSING Contracts awarded, floor space (27 States): Business buildings thous. of sq. ft._ Industrial buildings. thous. of sq. ft_. Residential buildings thous. of sq. ft_. Educational buildings thous. of sq. ft.. Other public and semipublic buildings thous. of sq. ft.. Grand total _ _. .thous. of sq. ft._ Contracts awarded, value (27 States) : Business buildings thous. of dolls.. Industrial buildings . thous. of dolls Residential buildings thous of dolls Educational buildings thous. of dolls Other public and semipublic buildings thous. of dolls.. Public works and utilities . -thous. of dolls. Grand total thous of dolls Rental advertisements, Minneapolis number.. April BUILDING MATERIALS TEXTILES Receipts at Boston: Domestic.. _ . Foreign Total April, 1924 ITEM 9,860 4,096 40, 321 5,209 10, 175 5,935 46, 203 4,762 7,954 4,488 42, 009 4,836 4,714 64,400 5,288 73, 221 3,769 63, 347 47, 859 47, 518 200, 493 40, 541 56, 704 44, 371 235, 584 30, 972 37,200 56, 075 430, 413 3,640 44, 695 82, 852 496, 157 5,458 Cement Production Shipments Stocks CHEMICALS AND DRUGS Wholesale prices Drugs and Pharmaceuticals Essential oils _ Crude drugs Flaxseed Receipts: Minneapolis Duluth Shipments: Stocks, end of month: Minneapolis Duluth thous of bush.. ...thous. of bush.. FOODSTUFFS Cereals Receipts: Wheat Corn . Oats Shipments: Wheat Corn Visible supply: WheatUnited States Canada . Corn . Oats . .. Argentine grain: Visible supplyWheat Corn.. Flaxseed Corn grindings (we tprocess) . . Sugar M citings Stocks at refineries. Cuban movement: Receipts, Cuban ports Exports.. . St )cks, end of month Coffee Visible supply: World United States ... Receipts, total, Brazil Clearances: Total, Brazil, for world Total, Brazil, for U. S thous. of bush thous of bush thous. of bush 17, 260 24,916 12, 856 10, 422 10, 224 ' 11, 679 10,123 17, 535 13, 769 thous. of bush.. thous. of bush.. 18, 367 13, 692 14, 226 14,243 12, 017 15, 912 thous. of bush.. thous. of bush thous of bush thous. of bush 63, 327 75, 048 36, 526 63, 886 47, 864 106, 076 25, 253 48, 082 57, 383 93, 380 19, 735 10, 656 thous of bush thous. of bush thous. of bush thous. of bush 11,110 2,000 3,200 5,672 12, 210 3,600 4,400 5,240 8,880 4,000 5,200 6,43 long tons long tons 551, 892 184, 668 545, 078 280, 444 426, 955 277, 027 long tons. long tons longtons,. 836, 676 876, 210 536, 148 677, 797 802, 936 1, 158, 245 634, 044 380, 109 945, 715 5,329 888 889 5,353 695 715 4,351 634 1, 131 770 462 679 278 728 463 27.0 25.6 26.1 26.0 28.1 25.3 4,558 188 140 808 404 59 2,960 3,722 131 110 596 313 91 2,481 3,499 148 117 539 305 70 2,320 ..thous. of bags. . thous. of bags.. thous. of bags.. thous. of bags.. thous. of bags.. TRANSPORTATION Index of ocean rates, Atlantic ports to: United Kingdom weighted index number.. 42, 683 All E urope weighted index number . . 54, 181 Car loadings (monthly totals) : Total ._ thous. of cars 196, 775 1 Grain and grain products.. thous. of cars.. 29,998 i Livestock thous. of cars Coal and coke thous. of cars 25, 738 : Forest products thous. of cars.. 76, 422 ' Ore . thous. of cars 426, 103 Merchandise and miscellaneous _ _ thous. of cars.. 5,615 26 APRIL DATA—Continued 1925 1925 April, 1924 ITEM March thous. of dolls.. thous. of dolls thous. of dolls thous. of dolls _ thous. of dolls thous. of dolls . thous. of dolls thous. of dolls _ 35, 837 19, 817 16, 020 29, 681 16,916 7,453 3,293 2,019 36, 275 21, 747 14, 528 32, 707 18, 890 8,150 3,412 2,255 thous. of dolls . thous. of dolls 29, 085 3,035 i 29, 083 i 3, 108 385, 488 thous. of dolls thous. of dolls. . 453, 434 349,000 400,000 EMPLOYMENT number on pay roll 225, 626 236, 557 20, 608 20, 932 53, 858 600, 738 20, 605 20, 913 44, 642 182, 641 385, 129 324, 679 4,776 41.99 4,725 41.50 mills of dolls mills, of dolls 23, 349 17, 759 22, 849 17, 717 mills, of dolls mills of dolls mills, of dolls mills of dolls mills, of dolls per cent 663 378 1,709 3,008 2,184 77.3 628 400 1,684 2,993 2,187 77.3 13, 140 5, 478 12, 588 13, 232 5,484 12, 814 4.00 3.94 4.00 3.95 34, 005 13, 375 17, 595 3, 035 37, 189 13, 097 21, 536 2, 556 1,859 429 1, 345 85 1,939 430 1,427 82 4% bond.. 4% bond.. 4% bond.. 4% bond.. 4% bond.. shares 76. 38 86.98 75.50 70.03 74.90 38, 568 76.51 87.66 75.90 69.59 75. 05 18,314 dolls per share dolls, per share.. 136. 96 79.07 135. 40 76.28 dolls, per fine oz_. pence per standard oz . .678 31.935 .669 31. 372 127. 1 118.9 128. 9 133.8 134. 5 112 8 137.7 131. 5 137. 5 135. 0 113.4 128.7 PUBLIC FINANCE U S interest-bearing debt mills, of dolls Gross debt mills, of dolls Customs receipts thous. of dolls _ Ordinary receipts ..thous. of dolls. _ Total expenditures chargeable against ordinary receipts thous. of dolls Money in circulation: Total mills, of dolls Per capita . ... dollars . 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 Commercial paper 4 6 mos mills of dolls mills, of dolls.. mills, of dolls per cent per cent BUSINESS FAILURES Liabilities: Total commercial thous of dolls Manufacturing establishments.. .thous. of dolls_. Trade establishments ..thous. of dolls.. Agents and brokers thous of dolls Firms: Total commercial number Manufacturing establishments number Trade establishments number Agents and brokers number STOCKS AND BONDS Bond price indexes: Combined index, 40bonds.p. 10 highest grade rails p. 10 second grade rails p. 10 public utility bonds.._p. 10 industrial bonds p. Stock sales Stock prices: 25 industrials 25 railroads ct. ct. ct. ct. ct. of par of par of par of par of par GOLD AND SILVER Silver: Price at New York Price at London April, 1924 April DEBITS TO INDIVIDUAL ACCOUNTS — continued DISTRIBUTION Mail-order houses, total sales Sears, Roebuck & Co Montgomery Ward & Co Ten -cent stores, total sales F W Wool worth S. S. Kresge Co S H Kress Co McCrory Stores Corp Postal receipts: 50 selected cities 50 industrial cities U. S. foreign trade: Imports Exports Detroit March April DEBITS TO INDIVIDUAL ACCOUNTS (By Federal reserve districts) (Relative to 1919 monthly average^lOO) United States 141 clearing-house centers BOSTON DISTRICT: Total, 11 centers Boston.. . ... ... ... Hartford Providence New Haven . 33, 836 ; (Relative to 1919 monthly average— 100) 20, 099 13, 737 NEW YORK DISTRICT: 29, 725 Total, 7 centers ... ... 17, 257 Albany 7, 370 Buffalo 3,013 Rochester 2,087 1 New York. ._ ... PHILADELPHIA DISTRICT: 26, 918 i Total, 10 centers .. .. 2,818 i Philadelphia Scranton ... _. ._ _. ... 324, 291 Trenton 346, 936 CLEVELAND DISTRICT: Total, 13 centers Akron Cincinnati _ 231,617 Cleveland Pittsburgh Youngstown Toledo Columbus 21, 354 Davton . 1 21,615 i 45, 696 RICHMOND DISTRICT: Total, 7 centers . _ J 214, 306 Baltimore Norfolk ... _ 327, 002 Richmond i Charleston. ... ...... 4, 760 i 42.33 ATLANTA DISTRICT: Total, 15 centers Atlanta . Birmingham New Orleans . Jacksonville ; 20, 326 Nashville ... _ . . . .. ... . ! 16, 052 Augusta i 426 CHICAGO DISTRICT: Total, 21 centers . i 447 Chicago ! 1,926 Detroit 3,223 Indianapolis 2,005 Milwaukee . 1 82.0 Des Moines Grand Rapids . i 12, 121 Sioux Citv 4,535 11,439 ST. Louis DISTRICT: Total 5 centers Louisville .. ... 4.44 St Louis 4.63 Memphis ... . ... _. . __ Little Rock . MINNEAIOLIS DISTRICT: | Total 9 centers '• 48,904 Duluth.. . \ 23, 137 Minneapolis 18, 719 St. Paul ._ . 7,049 Helena Billings . . 1,707 438 KANSAS CITY DISTRICT: Total, 14 centers 1,178 i1 Denver 91 : Kansas City, Mo Omaha i St. Joseph, Mo _ ! : Oklahoma Citv Tulsa . ... . i 72.67 ; | 83.58 DALLAS DISTRICT: Total, 11 centers i 69. 52 i ! Dallas 67. 53 i Houston . . i 72. 03 i Fort Worth 17, 792 i SAN FRANCISCO DISTRICT: Total, 18 centers • 106.71 : Los Angeles ._ . 62.09 i i Portland, Oreg .__... ' i San Francisco ! i Seattle . _. Oakland, Calif .641 ' 33. 065 District totals corrected for seasonal variation: United States, total. Boston district . | New York district . Philadelphia district i Cleveland district Richmond district _ .. • Atlantic district ... . . Chicago district 105.6 St. Louis district. .. ... 119.7 Minneapolis district j 123.4 1 Kansas City district 138.0 Dallas district 104.8 San Francisco district 120.8 129.9 203. 0 119.9 138. 9 129.6 118.2 163.6 129.2 135.1 117.6 102.1 149.4 114.1 125.8 101. 5 129.6 128. 7 147.5 139.0 124.6 122.1 142.7 150.3 119.5 116. 7 141.5 151.2 116.4 87.0 144. 2 96. 2 128. 0 104. 3 167. 6 116. 0 149. 1 122. 6 101.6 149.2 112.9 124.0 119.6 177.3 126. 1 153.3 115.9 87.8 133. 2 110.2 114.8 115.0 162.9 119.8 142.0 103.0 98. 0 84.7 116. 1 77.2 104. 1 105.7 81.6 105.3 76.2 93.7 88.4 80.9 101.7 83.8 120.8 132. 0 216. 6 1 18. 8 165. 9 90.5 85. 6 114.3 121.3 216.2 106.4 175.6 88.5 76.8 104.6 114.6 200.0 105.2 135.4 79.6 70.3 128. 5 127.5 145. 6 106. 8 129. 2 93. 2 102. 4 160. 8 121.0 116. 3 153.5 105.4 113.6 91.1 104.5 141.1 109.4 194.8 135.8 107.4 109.7 86.8 88.0 128.5 120 2 124.9 115.9 108.7 176. 8 122.0 120. 3 123.0 96.4 173.6 107.0 107.0 104.9 97.1 165.4 113.6 96. 1 122. 6 110.7 67. 3 75.4 105.9 94.5 112.3 102.3 71.2 78.7 83.9 61. 1 83. 6 97.5 72.7 66.7 95.0 116. 7 89. 0 79 2 73. 3 131 S 115.5 90.2 120.5 85.3 72. 1 64.4 122.0 108. 5 82.3 115.7 73.4 69.3 69.4 101. 5 94.7 117 5 136 4 108. 3 81.2 101.2 114.6 89.5 74.0 92.9 101. 2 79.0 73.9 144 7 265.0 86.5 129 0 98 4 214.2 136.4 247.8 92.6 115.9 95. 0 217.0 128.7 240. 1 92. H 105. 1 88.3 201. 5 121.7 135. 6 '119.fi 127.8 123. 6 110.7 120.2 124.6 127. 0 112.8 94.2 111.7 142. 8 i 108. 1 123.4 103. 3 122.6 116.8 99.7 110.0 112.7 111.3 89. 4 85.9 102. 5 134. 8 125.7 129.3 127 7 129.2 118 5 106.6 119.8 1^5 7 119.7 121 1 93 0 120 3 141 4 1 Increases in postage rates applying to almost all classes of postal service except first class mail effective April 15, 1925, affect thp comparability between these data and those for prior months. 27 COMMON BRICK AND CANADIAN MILLING COMMON BRICK i CANADIAN MILLING 2 Stocks, end of month Firms Plants report- closed ing down YEAR AND MONTH Shipments Burned 1921 monthly average 1922 monthly average 1923 monthly average 1924 monthly average Unburned Unfilled orders Wheat 113 96 110 104 57 23 20 20 251, 949 187, 856 224, 962 275, 946 142 132 126 115 115 115 84 49 352, 170 321, 940 264, 697 250, 614 105, 126 111, 182 114 875 ! 127,590 H 97 92 110 126 33 35 35 38 201, 252 198, 169 231,460 254, 073 113,671 73, 562 130, 613 158, 267 104 102 101 105 37 35 43 62 205, 602 230, 557 246, 260 266, 596 137, 644 163, 442 170,244 148, 659 4,588 6,549 7,905 97 108 100 99 58 50 35 20 237, 980 159,396 163, 473 160, 686 83, 900 22, 969 27,719 93 95 94 92 14 5 10 11 145, 736 167, 750 184, 224 173, 361 81 94 97 100 11 16 20 27 January February March April 90 102 128 105 May June July August September October November _ December 1921 January... February March April May June July August ... .. September . October November. _ December 1923 January February March . April _ May June July August September October November December _ 1923 1924 January February IVTarch. April ]Vtay June July August September . October November December .. _ 1925 January February. March April May... June... y __ 3 46, 687 64, 918 56, 757 129, 024 Total oatmeal Oatmeal and rolled oats Wheat flour Oats of Thousands of bushels Thous. barrels Thousands of bricks Number Production Grindings 129, 573 231,063 344, 580 281, 735 6,386 6,886 7,418 821 821 1,053 1,422 1,559 1,661 Boiled oats Thousands of pounds 9,610 10, 322 15, 362 1,100 2,002 4,146 8,511 8,320 11,216 ! i 973 8,467 1,193 1,249 892 871 \ 1, 807 152, 040 166, 994 196, 734 250, 638 5,536 6,143 5, 875 4,619 62-1 777 901 629 ! 1,182 1,312 1, 253 999 8,185 10, 556 9,704 6,406 1,257 1,630 785 1,038 6,928 8,926 8,919 5,368 31, 891 37, 864 36, 795 44, 089 258, 503 294, 272 287, 144 265, 878 5,388 4,593 4,406 5,461 558 614 802 967 ! I ! | 1, 202 1, 024 982 1,218 5,415 7,500 10, 429 12, 135 941 633 1,014 1,520 4,474 6,867 9,415 10, 615 190, 756 232, 733 238, 858 199, 314 42, 162 77, 426 65, 459 43, 282 234, 328 232, 694 229, 225 204, 303 6,882 9,452 9,759 8,521 678 1,072 1,220 1,008 ! 1, 553 2, 156 2,228 1,948 7,933 14, 052 10,532 12, 473 702 1,456 731 1,486 7,231 12, 596 9,801 10, 987 32 37 29 7 199, 449 185, 094 181, 298 150, 316 25, 326 28,003 44, 940 49, 129 238, 486 302, 905 463, 752 464, 604 7, 219 6,432 7,363 6,058 981 756 724 556 i i 1 1,644 1,473 1, 677 1, 383 12, 132 9,202 6,241 5,207 2,027 2,658 1,097 1,087 10, 105 6, 544 5,144 4,120 91 93 93 107 6 6 1 5 137, 520 153, 487 179, 574 250, 176 33, 669 43, 327 59, 474 85,904 403, 691 395, 447 342, 719 330, 712 5,777 5,002 5,311 4,657 457 562 693 625 i 1,325 1, 146 1,207 1,058 3,998 6,134 8,499 7,833 1,051 1,291 807 504 2,947 4,843 7,692 7,329 132 133 126 120 20 26 39 30 307, 633 306, 922 334, 381 313, 696 143, 641 129, 310 80, 643 55, 646 132, 538 66, 199 356, 429 293, 177 276, 124 266, 914 6,327 9,830 10, 504 8,149 820 1,306 1,329 1,038 1, 410 2,209 2,357 1,821 10, 942 18, 707 19, 079 15, 884 1,552 4,190 3,563 4,192 9,390 14, 517 15, 516 11,692 114 106 113 108 45 26 15 8 306, 503 282, 813 250, 118 238, 703 38, 349 39, 695 46, 226 58, 972 45, 762 104, 663 142, 197 169, 855 272, 403 263, 219 335, 926 382, 778 8, 256 8,064 7,645 6,464 1,275 1,098 1,139 857 I 1, 850 1,811 1,719 1,449 20, 104 16, 548 16, 582 11,350 9,029 6,321 6,096 2,985 11,075 10, 227 10, 486 8,365 98 101 99 92 6 7 12 13 223, 458 258, 474 231, 182 261, 800 70, 802 72, 725 86, 722 68, 138 163, 298 158, 753 149, 622 120, 777 394, 156 366, 098 314, 588 256, 017 8,361 6,333 6,061 6,409 905 857 1,085 957 ! 1, 881 1,413 1,354 1,426 13, 083 13, 452 16, 652 14, 798 5,677 3,407 3,550 1,217 7,406 10, 045 13, 102 13, 581 92 111 93 117 22 18 24 48 272, 172 312, 061 3-19, 585 354,477 61, 150 44, 543 49, 596 51, 162 111,846 135, 806 126, 945 118, 759 226, 529 186, 977 179, 225 202, 906 7, 745 9, 558 7,644 6,473 1,010 1,097 1,218 1,134 1, 737 2, 143 1, 708 1, 440 15, 157 15, 945 16, 199 14, 467 2,357 2,568 3,703 2,842 12, 800 13, 377 12, 496 11,625 90 114 116 31 26 16 279, 862 305, 831 287, 800 23, 951 34, 891 43, 446 94, 185 110,790 170, 697 201, 479 247, 176 329, 673 7,692 7,037 7, 552 879 659 689 1,698 1,557 1,668 11,159 7,133 7, 469 1,536 1,519 1,769 9,623 5,614 5,700 i i i ! I - ! 1 - - if" .... "( 1 Compiled by the Common Brick Manufacturers' Association of America from reports of concerns representing about 30 per cent of the total output of common brick. It should be noticed that the number of plants shut down increases considerably in the winter, owing to seasonal shutdowns in the more northern localities. Details by districts are given in the association's reports. 2 Compiled by the Dominion Bureau of Statistics, Internal Trade Branch, covering merchant mills having a capacity of about 120,000 barrels per month, and also custom mills. The detailed reports of Canadian milling statistics also contain data on other grains as well as a division into eastern and western territory. 3 Eleven months' average, February to December, inclusive. CONSUMPTION OF GASOLINE BY STATES Total 21 identic States YEAR AND MONTH Ala- Ar- Ari- bama kansas zona Con- FlorColo- nectiida rado cut Geor- gia Indi- ana Ken- Minne- MisKansas tucky sota souri Ne- New Xth Okla- braska Mcxico j kota homa Oregon Penn- South South WashCaro- Da- ington sylvania kota lina Thousands of gallons 1922 monthly average.. 1923 monthly aver age ._ 1924 monthly average. . 149, 593 185, 096 228, 726 3,799 5,456 7,244 2,637 3,574 5,035 1, 455 1, 820 2,030 5,526 6,316 7,717 6,583 7,610 9,259 5,888 7,782 10, 503 7,015 8,802 10, 292 14, 571 17, 534 20, 593 11,501 13, 334 15, 460 4,386 5,728 7,217 12, 411 15, 506 17, 788 11,459 13, 213 19, 274 8,102 9,429 10, 356 1,234 1,274 1,566 2,934 3, 520 4,245 7,346 10, 050 12, 197 4,764 6,092 7,204 22, 363 28, 448 37, 873 4,022 4,807 5,630 3,655 4,688 5,317 7,942 10, 215 11,924 1923 January February . March April 101.811 ! 2, 788 2, 764 96^ 492 10f), 386 ! 3, 081 126, 559 4,068 2,192 1,803 2, 265 1,766 1,106 1,137 1,214 1,376 4,098 4, 114 4,432 5, 744 3,311 3, 273 4, 572 6, 214 5, 865 5,964 6, 450 5, 935 6,180 6,863 5,974 6,915 10, 582 8, 137 10, 187 12, 248 9,228 8,020 8,925 10, 367 3,702 3,092 2,411 3,160 5,569 4,933 5,516 8,292 11, 377 5, 525 9,610 8, 894 5, 126 6,677 5,649 7,172 997 886 899 821 1,243 456 1,009 2,203 6,659 5,663 6, 165 6,357 2,653 2,663 3,184 3,993 7,098 15, 130 12, 533 17, 688 3,745 2,845 4.231 4,122 2,592 1,692 1,200 1,981 4,700 4,855 5, 879 7,243 3,502 3, 639 4,263 4, 275 2,084 2,728 2, 645 3,974 1,491 1,528 1, 612 1,444 6,164 5,623 6, 220 6,882 7, 518 7, 950 8, 594 8,864 5,737 5, 524 5, 442 5,341 6,761 6,131 7,419 7,610 18, 126 13, 776 18, 308 18, 686 10, 520 13, 917 16, 219 17, 649 3,193 3, 652 4,972 5, 509 16, 515 15, 992 18, 166 18, 463 10, 654 12, 766 13, 002 12, 667 8,258 10, 246 8,418 10, 927 1,077 1, 575 1,314 1,300 3,359 2,828 6,233 5,733 7,127 3,900 8,628 9,816 4,977 5,752 6,602 6,756 21, 024 26, 579 25, 923 29, 413 3,184 3,942 5,095 4,268 4,921 4,668 4,550 6,237 8,569 9,384 10, 797 10, 522 4,443 188, 382 169, 075 4,197 171, 221 ! 4, 241 4,327 138, 570 4,026 2, 443 3, 382 2,331 1,566 1,627 1,646 1,714 7,007 5,372 6,278 4,381 8,547 7,620 6.879 5,654 5,559 5,537 0,228 7,071 8,008 6,996 7,712 7,609 14, 717 15, 621 19, 844 14,618 8,092 13, 959 9,986 11, 129 5,089 6,547 6,1,53 5,147 15, 780 16, 307 14, 308 8,088 16, 342 12, 785 12, 768 11, 123 8,491 11, 508 6,286 8,471 1,263 1,776 1, 539 1,355 5,462 3,808 1,244 1,632 9,631 8,392 8,154 7,665 6,364 5,405 4,758 4,066 39, 066 22, 043 32, 240 19, 615 4,153 3,556 5,466 3,661 5,053 4,502 3,970 2,499 9,723 9,074 8,139 6,414 - May June July August . September October November D ecem her - . 1 ... Total 154, 761 162, 100 j 184, 422 ! 196, 336 1,795,115 45,588 31, 639 17, 461 66, 315 78, 996 70, 653 84, 178 174, 850 138, Oil 52, 627 148, 929 137, 513 97,229 14, 802 35, 210 88, 157 57, 173 268, 352 48, 268 43, 865 95,299 139, 605 131, 990 136,211 144, 607 4, 297 4,149 4,206 4,907 2,603 2,196 2,587 2, 977 1, 558 1, 584 1,566 1,727 4,810 5,966 5,293 5,361 3,710 3,932 4,212 6, 577 7,525 7,409 8, 654 7,261 8,139 7,520 7,582 6,509 11, 788 9,963 12, 112 15, 170 11, 787 9,624 10, 740 11,377 4,874 3,940 4,408 3,184 10, 274 7,389 6,795 9,184 12,512 10, 771 9,409 9,679 9,122 7,369 8,010 6,812 1,087 1,111 838 985 2,192 823 857 1,857 9,481 7,715 8,405 8,855 3,325 3,307 4,357 5,339 18,370 23, 607 19, 463 22, 411 3,235 4,560 5,972 2,532 3,041 3,334 3,002 2,457 5,875 5,721 7, 743 9,446 ! Mnv .Juno ' July A ujrust 183, 829 ! 5, 243 210,713 ' 5, 629 211,441 i 6, 048 224, 293 6,350 2,298 2,745 3,674 «, 166 1,946 1, 938 1,871 1,797 4,759 6,C82 8,836 7, 690 8,755 9,562 10, 038 10, 553 7,532 7, 900 6,507 6,684 8,679 9,327 8,814 9,994 16, 058 19, 344 22. 048 24, 104 11, 798 15, 054 16, 256 19, 786 4,499 5,075 5,801 7,657 16, 477 21,390 20,600 22, 713 11,963 14, 432 13, 361 11,791 8,560 9,616 12, 552 9,946 1,182 1,383 1,322 1,392 3,825 4,715 4,429 6, 223 10, 781 10, 912 12, 683 12, 445 6,364 35,383 6,676 38, 023 7,901 2 25, 659 8,497 2 25, 659 3,522 4,651 5,187 4,982 3,626 5,174 5,027 7, 285 10, 579 11,085 12, 827 13, 579 September October i November December., . ... _ . 217, 187 | 6,203 214, 556 6, 476 207, 305 | 6, 092 199, 416 | 5, 875 5, 450 4,364 4,944 3,889 1,924 2,059 1,927 1,937 7, 058 6,600 6,887 6, 453 9,447 9,115 8,046 7,370 7,123 7,985 9,418 9,380 10, 180 9,659 9,592 9,632 22, 127 20, 795 19, 220 17, 684 13, 876 13, 289 13, 612 12, 811 7,168 7,982 6,442 7,700 20, 104 19, 115 17, 266 14, 769 19, 222 14, 337 16, 040 15,033 10, 119 12, 634 9,516 8,891 1,488 1,484 1,584 1,429 6,664 4,058 3,632 2,960 10, 456 9,313 9, 523 10, 026 8,029 *2 25, 659 35, 712 7, 065 6,580 2 35, 712 5, 668 2 35, 712 4, 854 5, 269 5,657 7,261 7,130 5, 433 4,972 4,572 12,906 11,812 10, 643 10, 364 65,475 42, 893 21, 834 75, 795 91,317 93, 378 105, 627 210, 413 160, 010 68, 730 186, 076 158, 550 113, 147 15, 285 341, 370 57, 682 55, 053 122, 580 173, 852 5, 454 153, 733 4,861 171, 095 5.900 198, 031 ! 6; 736 3, 414 3, 109 3, 308 4,050 1,706 1, 788 1,793 1,797 8,402 5,582 5, 605 4,274 6,379 4,773 6, 334 8,238 11,088 9,632 10, 085 10, 050 9,998 7,976 8,469 9,533 13, 693 11,391 14,887 19, 883 12, 169 9,441 10, 438 13, 679 6,228 5,422 4, 508 6,359 10,617 8,170 11,235 15, 805 12, 477 13, 898 16,401 11,060 9,142 9,475 5, 930 8,026 1,029 1,183 1,209 1,376 1,445 1,963 2,826 3,318 10, 301 7,831 8, 333 9,502 4, 248 « 28, 253 4,824 2 28, 253 5,738 2 28, 253 6,717 » 37, 441 5,482 3,998 6,506 5,427 4,969 2,604 2,915 3,663 7,358 8,559 10, 422 11,697 7, 255 7, 087 8, 193 8, 525 5,617 4,992 5,695 5,946 1,959 2, 116 2,101 2,118 7, 157 7,453 9,567 10, 404 10, 071 10, 702 12, 164 12, 205 10, 368 9, 465 9,539 9,771 10,433 9.661 10, 655 10, 500 22, 551 22, 974 25, 093 26, 783 15, 115 15, 649 21, 539 21, 032 4,449 6,736 8, 796 8,704 17, 913 20, 942 25, 767 24, 082 11, 882 17, 345 25, 317 29, 537 10, 849 9,577 9, 168 13, 497 1,429 1,595 1,755 1,879 3,787 4,490 5, 272 5, 957 11, 207 12, 485 15, 391 15, 149 7,688 2 37, 441 8,607 2 37, 441 9,692 « 42, 735 9,670 2 42, 735 5,833 5,343 3,308 5,677 4,995 5,199 5,955 7,666 13, 111 13, 663 15, 130 15, 677 8,021 269, 142 268, 404 1 8,442 257, 075 8, 326 237, 801 i 8,132 6, 285 6,202 6, 609 5, 190 2,204 2, 263 2,264 2,253 10, 087 8,699 7, 672 7,696 10, 749 10, 834 9,611 9,049 9,753 10, 456 12, 051 13, 778 12, 006 11, 108 11,518 11, 646 25, 165 24. 724 21, 439 18, 535 17, 732 19, 307 15,730 13, 704 10, 485 8, 590 8, 765 7, 564 24, 207 22, 329 19, 383 13,011 16, 870 24, 599 25, 082 27, 816 10, 613 10, 734 15, 962 11, 304 1,922 1,810 1,836 1,774 8,576 6,465 4,648 2,188 13, 798 14, 071 13, 857 14, 437 9, 053 7, 761 6,696 5, 754 2 42, 735 2 43, 063 2 43, 063 2 43, 063 6,443 6,665 6, 225 6,655 8, 551 7,501 5,525 4,259 13, 887 12, 781 10, 813 9,993 86,932 i 60,417 24,362 92, 598 111,109 126, 036 123,503 247, 118 185, 525 86,606 213, 461 231, 284 124,277 18, 797 50, 935 146,362 j 86,448 454, 476 67, 562 63, 802 143, 091 18, 535 18, 085 14, 399 14, 625 6,499 6,087 11,316 11,881 8,520 1, 347 1,494 6,018 6,752 3,294 3,091 9,006 9,341 1923 ! Januarv FebruaVy March April -_ ._ .. . ... Total 2, 221, 158 1924 January February March April May.- _ .. June Julv August September-. October November December Total 1925 January February Mi arch April May June 1 2 ... 221, 110 233, 522 i 272, 832 287, 514 2, 744, 711 7, 318 6, 726 ! 6, 209 5, 403 1, 886 2, 103 ,"" " 6, 623 6,550 6,793 5, 450 15, 427 13, 702 10, 331 10, 055 17, 710 15, 686 42, 235 120, 595 2,480 3,816 12,330 12, 835 73, 108 5,313 5, 475 " '' 1 Compiled by the American Petroleum Institute from reports of gasoline tax collections in the States shown. Data for a few of the above States are also available by months for 1921. Interpolated from three months' total, making equal division between each month. 1 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. In a few cases, where marked by an asterisk •(*), the earlier data were published in the March, 1925, issue on pages 27 and 28; or, if marked by a dagger (f), in the April, 1925, issue on pages 20 and 27 to 29. 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. j Per ct. increase (+) or decrease (-) cumulative 1925 from 1924 NUMERICAL DATA In many cases April figures are now available and may be found in the special table on page 25 1925 January February March, 1924 March CUMULATIVE TOTAL | FROM JANUARY 1 THROUGH LATEST MONTH 1925 1924 Per cent increase (+) or decrease (— ) RELATIVE NUMBERS BASE YEAR OR PERIOD 1925 1924 March Mar., 1925,. from from Febru- Mar., ary Feb. Mar. Feb. Mar. 1924 i TEXTILES Wool Receipts at Boston: Domestic thous. of lbs_. Foreign thous. of Ibs Total.. ...thous. of Ibs.. Imports, unmanufactured thous. of Ibs.. Consumption by textile mills, grease equivalent thous of Ibs Machinery activity, hourly: Looms, wide per ct. of hours active Looms narrow per ct of hours active Looms, carpet and rug per ct of hours active Sets of cards per ct of hours active Combs per ct. of hours active.. Spinning spindles— Woolen per ct. of hours active Worsted per ct. of hours active.. Machinery activity (percentage of total): Woolen spindles .per ct. of active to total Worsted spindles per ct. of active to total Wide looms per ct. of active to total.. Narrow looms per ct. of active to total.. Carpet looms per ct. of active to total.. Prices: Raw, Ohio, K blood, unwashed _ _ dolls. perlb_. Raw, territory fine, scoured dolls per lb Worsted yarn _ dolls, per lb_. Women's dress goods dolls, per yd Men's suitings dolls, per yd.. 3,418 35, 589 38, 987 47, 504 4,807 13, 478 18, 285 37, 725 5,475 27,411 32, 886 35, 791 12, 342 25, 643 37, 985 41, 058 29, 623 56, 621 86, 244 111,331 13, 700 76, 458 90, 158 121, 020 51, 435 46, 415 45, 853 47, 630 152, 108 143, 703 76.3 71.5 75.2 69.4 70.8 67.5 71.4 66.3 78.3 92.1 88.9 80.7 93.0 87.5 85.5 94.2 77.2 72.7 98.9 90.6 87.8 75.8 89.6 73.6 91.9 65.5 92.0 73.5 81 81 83 84 75 75 75 80 74 73 74 81 68 70 71 82 78 72 80 82 .68 .63 .54 1.67 1.900 1.035 3.780 1.65 1. 900 1.035 3.780 1.58 1. 800 1.035 3.780 1.41 1.650 1.035 3.690 811 864 1,379 Receipts into sight thous. of bales 59, 984 33, 955 54, 822 Imports, unmanufactured . .. bales Exports, unmanufactured (including linters) bales.. 1, 076, 075 811, 838 734, 697 Consumption by textile mills bales. . 589, 725 550, 132 582, 674 Stocks, end of month: 3,882 4,621 5,297 Total, mills and w'houses thous. of bales 1, 645 1,434 1,546 Mi ills thous of bales 3, 075 2,237 3,863 Warehouses .thous. of bales.. WTorld visible, 3,564 4,722 4,328 American thous. of bales 5,059 5,645 5, 830 World visible, total thous. of bales Machinery activity of spindles: 33, 277 33, 225 33, 181 Active spindles thousands 7,868 8,599 8,493 Total activity millions of hours 227 224 208 \ctivity per spindle hours 99.6 95.4 100.0 Per cent of capacity per cent-Cotton finishing: Orders received, 86, 776 84, 459 i 83, 293 grey yardage thous. of yds— Billings, finished goods (as 92, 632 81, 174 i 81, 650 produced) thous. of yds._ 48, 879 47, 961 Shipments finished goods _ cases.. 49, 319 36, 121 36, 101 36, 925 Stocks, finished goods cases 71 62 Operating activity per ct of capacity 66 Manufactured goods: 39, 660 51, 520 51, 819 Cotton cloth exports thous. of sq. yds._ Fabric consumption 15, 041 13, 364 by tire manufacturers thous. of Ibs. . 12, 311 13, 798 13, 155 Elastic webbing sales thous. of yds.. Fine cotton goods: Production _ pieces.. 419, 904 388, 053 444, 886 459, 252 525, 384 456, 715 Sales pieces Prices: .230 .245 .227 Raw cotton to producer dolls, per lb _ .256 .240 .247 Raw cotton, New York dolls, per lb.. .430 .430 .437 Cotton yarn dolls, per lb .068 .069 .069 Print cloth dolls, per yd— .110 .108 .107 Sheetings _ dolls, per yd— Cotton goods (Fairchild). .index number.. 12 Revised. Eleven months' average, January to November, inclusive. 369 49, 833 -53.8 i 1913 +35.0 1913 +4.5 j 1913 1913 +8.7 36 41 +13.9 255 519 +103. 4 97 175 +79.9 298 283 -5.1 40 92 240 486 96 202 312 325 -55.6 +6.9 -13.4 -12.8 1921 115 108 105 104 -1.2 -3.7 1921 1921 104 104 104 104 109 109 103 106 -5.5 2.8 -1.0 +1.9 ! ! | 1921 | 148 1921 I 132 1921 105 142 138 102 157 130 98 167 132 87 +6.4 +1.5 -11.2 +17.6 -4.3 -14.7 1 1921 1921 125 94 128 90 125 90 128 80 +2.4 — 11.1 0.0 -11.1 1913 106 109 105 108 +2.9 -0.9 1913 1913 1913 1913 105 105 96 97 in 110 122 121 100 99 101 119 92 95 97 121 -8.0 -4.0 -4.0 +1.7 -12.4 -2.1 -11.8 0.0 1913 216 216 272 252 -7.4 +16.7 1913 1913 ; 1913 1913 247 219 184 239 247 i 289 212 245 184 184 239 245 277 232 184 245 -4.2 -5.3 0.0 0.0 +12.1 +9.1 0.0 +2.4 +81.1 ! 1913 +1.8 1913 35 239 31 245 72 295 67 167 -6.1 +119.8 -43.4 -31. 9 +92.7 +9.5 1913 1913 66 109 46 104 112 118 101 125 -9.5 +121.2 +5.9 +19.9 -5.5 | | j 1 i ! i " | | i Cotton 332, 168 i 485,840 3,055 148, 761 1, 687 146, 128 1,361,167 2, 622, 610 1, 572, 985 1, 722, 531 3, 504 1, 504 2, 001 ' ! j 1913 1913 1913 132 116 145 114 111 116 150 114 178 126 121 130 -16.0 +10.8 +9.4 +6.4 -27.3 +11.8 j j 2, 365 4, 127 i i 1913 1913 90 104 76 94 140 129 115 115 -17.7 -10.4 1 1913 1922 1922 107 95 93 106 109 92 102 89 ! 100 109 111 109 | 1 4 32, 372 7,073 187 82.4 i ; i +50.7 +22.6 -0.2 +2.6 +9.3 +21.6 +9.1 +21.4 -0.4 +20.9 92 96 +4.2 +8.1 100 96 103 i 107 121 100 97 102 108 109 100 109 +13.5 +1.9 +0.1 +6.9 +8.8 +5.2 -17.8 +12.4 80, 300 i 248, 888 254, 528 +2.3 2 1921 91 85, 110 1 46, 469 ! 43, 948 63 263, 647 148, 616 255,456 146, 159 -3.1 -1.7 2 1921 2 1921 2 1921 1921 101 107 127 98 30, 575 87, 886 142, 999 +62.7 s 1913 78 82 107 139 +29.9 +68.5 12, 008 ; 10, 782 ! 35, 160 21, 677 40, 716 26, 953 +15.8 +24.3 1921 1919 171 73 179 84 200 94 225 +12.5 +25.3 1 1919 1919 107 43 110 45 1 101 ; 116 102 +14.6 +5.8 -13.1 +126. 9 420, 622 201, 281 1,294,407 642, 919 -3.2 1, 252, 843 1,441,351 +124. 2 89 118 +6.5 1913 262 231 192 204 +3.6 1913 250 223 193 200 0.0 211 195 174 174 i 1913 +1.5 192 201 1913 197 205 +2.8 204 196 ! 174 179 i1 1913 > i ! +1.0 1911-13 1 213 202 194 196 3 Twelve months' average, July to June, inclusive, ending the year indicated. 4 February, 1924. .277 .285 .483 .066 .121 "" 1 -11.6 -10.2 -11.0 +4.5 -9.1 -3. 0 30 TREND OF BUSINESS MOVEMENTS—Continued Per ct. \ RELATIVE increase NUMBERS (+) 1 or deBASE crease ! YEAR CUMULATIVE TOTAL (-) i OR 1924 1925 FROM JANUARY 1 cumuTHROUGH LATEST lative PERIOD MONTH 1925 i from i Feb. Mar Feb. Mar. 1924 1924 1925 NUMERICAL DATA In many cases April figures are now available and may be found in the special table on page 25 1925 i March, 1924 January February March 39, 885 6,633 5,259 37, 529 5,714 45,157 2,760 26,543 58, 732 25, 084 6,076 60, 249 24, 252 6,223 46, 663 27, 761 5,831 30, 375 17, 820 6, 223 i 80.9 55.6 82.1 80.2 56. 5 83.1 83.4 58.5 85.3 56, 240 33, 142 56, 524 25, 273 56, 175 29, 559 43, 622 24, 774 thous. of lbs__ linear yds.. linear yds__ 1,941 1,850 1,497 1, 923 1,671 1, 593 2, 537 2, 254 1,498 3,310 2, 339 1,995 ...thous. of dozen pairs thous. of dozen pairs.. thous. of dozen pairs. _ thous. of dozen pairs. _ thous. of dozen pairs. _ 3, 661 3,373 5, 738 4,400 7,372 3,703 3,467 5, 964 3, 852 7,705 4,039 3,937 5, 945 4,096 7,730 3,742 3, 619 6, 548 3, 168 6, 037 Per cent increase (+) or decrease (— ) March from February Mar., 1925, from Mar., 1924 TEXTILES— Continued Silk Imports raw thous. of Ibs Deliveries (consumption) _ . _ bales _ Stocks, end of month: \.t warehouses _ . bales _ At manufacturers' plants* bales.. Price, Japanese, New York dolls, perlb.. Silk machinery activity: Broad looms per ct. of operation.. * Narrow looms . per ct. of operation _ _ Spinning spindles per ct. of operation. _ Burlap and Fibers Imports: Burlap thous. of Ibs . Fibers (unmanufactured) long tons__ 12, 264 89, 272 +43.6 +37.3 17, 606 122, 571 147 167 1913 51920 1920 78 1913 189 97 185 149 i 210 59 200 253 117 91 171 | 171 160 72.8 51.0 69.4 i 157, 553 75, 008 +7.2 +17.3 168, 939 87, 974 171 87 1909-13 1909-13 129 87 167 88 166 103 +8.7 +107. 0 +20.3 +70.1 -22.5 +14.5 -6.3 +53.6 +55.8 -6.3 +4.0 +3.5 +2.6 +14. 6 +14.7 +22.9 -0.6 +17.1 +28.8 +19. 3 +31.9 +34.9 -6.0 -23.4 -3.6 -24.9 +9.1 +13.6 -0.3 +6.3 +0.3 +7.9 +8.8 -9.2 +29. 3 +28.0 Pyroxylin Coated Textiles Pyroxylin spread Shipments billed Unfilled orders, first of month ! Hosiery Production Shipments Stocks New orders Unfilled orders IRON AND STEEL 9,329 +1.0 +3.0 11, 403 10, 777 1 I +32.4 , 12,348 1 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: Total thous. of long tons.. Merchant furnaces*... thous. of long tons.. Furnaces in blast, end of month: Furnaces number. _ Capacity .. long tons per da v._ 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-- 1,290 10, 466 ! 31, 154 24, 430 6, 724 5, 242 26, 207 20, 184 6,023 5,000 20, 791 15, 695 5,096 5,490 24,047 17, 984 6,063 5,308 14, 779 3, 367 678 3,214 674 3, 564 751 3,446 792 9,540 2,201 251 114, 150 62.3 254 115, 700 63.0 245 112,380 61.1 270 ! 112,240 65.7 16, 516 70. 70 22, 077 16, 848 17, 605 71.40 26, 218 14, 243 21, 035 74.90 26, 390 18, 226 23, 331 79.90 25, 626 17, 425 24.14 21.88 23.24 23. 76 22.00 23. 21 22.86 21.30 22. 87 24. 76 21. 94 23. 83 62, 829 55, 672 58, 047 58.6 56, 399 57, 042 46, 193 53.4 57, 304 58, 999 52, 962 53.6 69, 574 62, 675 58,315 65.6 15, 732 | +6.4 10, 145 2,103 +6.3 -4.5 i ! 66, 988 55, 156 -17. 7 J 51, 783 49,317 -4.8 ! e 1919-20 o 1919-20 1913 6 1919-20 96 100 93 119 79 81 81 132 86 91 80 124 68 70 68 136 -20.7 -22.2 -15.4 +9.8 -13.5 -12.7 -15. 9 +3.4 1913 120 135 126 139 +10.9 +11.4 +3.4 -5.2 1913 1913 98 129 100 134 94 138 91 134 -3.5 -2.9 -3.0 -9.3 +0.1 -7.0 1922 1922 1922 1922 190 143 i 110 ! 226 192 154 115 212 145 138 118 173 173 145 118 221 +19.5 +4.9 +0.7 +28.0 -9.8 -6. 3 +3. 0 +4.6 i 1913 i 1913 j 1913 155 150 156 155 149 155 148 150 151 143 145 148 -3.8 -3.2 -1.5 -2. 9 -4.0 +1.6 +3.4 + 14.7 +0 4 -17.6 -5.9 -9.2 — 18.3 Crude Steel Steel ingots, production... thous. of long tons.. i 4, 199 Steel castings:! Total bookings short tons__ 82, 922 Railroad specialtiesshort tons.. 40, 799 Miscellaneous bookings short tons 42, 123 U. S. Steel Corporation: Earnings thous of doll1-! 13, 027 Unfilled orders, end of month thous. of long tons.. 5,037 Sheets, blue, black, and galvanized: Production (actual) short tons 317, 424 Production per ct. of capacity-98.0 Shipments short tons.. 283, 645 Sales _ short tons 241, 040 Unfilled orders, end of mo short tons.. 607, 190 Stocks, end of mo. — Total short tons 140, 823 Unsold short tons_ 49, 460 Steel barrels: Production barrels 420, 127 Shipments barrels. . 415, 040 Stocks, end of month..barrels. . 59, 277 Unfilled orders, end of month barre s_. 1, 374, 247 Wholesale prices: Steel billets, Bessemer. dolls, per long ton.. 37.00 Iron and steel ..dolls, per long ton.. 40.95 Composite steel dolls, per 100 Ibs. 2.77 Composite finished steel. dolls, per 100 Ibs. . 2.56 Structural steel beams. .dolls, per 100 lbs._ 2.10 *1 t See text on p. 29. Revised. 1 3, 756 4, 199 i 4, 207 11,631 61, 535 27, 237 i 34, 298 59, 508 21, 670 37, 838 100, 514 59, 778 40, 736 225, 058 114,824 110,234 12, 358 14, 498 19, 065 50, 075 5, 285 4, 864 4,783 283, 290 96. 5 255, 080 235, 980 565, 133 290, 308 90.7 279, 437 263, 666 550, 422 278, 767 96.5 262, 497 251,411 422, 889 159, 661 53, 717 151, 788 57, 714 126, 437 43, 888 413, 823 ! 505, 429 407, 781 ! 510, 928 64, 402 57, 603 1, 336, 124 1, 264, 860 394, 478 394, 756 57, 072 601, 663 1 37.00 41.13 2.83 ' 2. 55 2.10 i 40.00 43.24 3.00 2.75 2.50 36. 70 40. 70 2.86 2. 54 2.10 5 6 -M.O; 1913 203,965 ' -9.4 89, 706 -21.9 | 114,259 447 1913 1913 1913 12, 100 891, 022 741,616 675, 350 8.18,162 740, 686 167 149 166 +11.8 -0.2 145 149 141 199 252 152 122 115 128 118 91 142 -3.3 -20.4 + 10.3 -40.8 -63.7 -7.1 1913 142 167 108 127 +17.3 -24.0 1913 83 81 89 82 -8.0 +1.7 1920 1920 +16.4 1920 +9. 7 ' 1 1920 1920 160 133 145 134 63 163 133 152 179 61 165 133 148 168 82 169 125 162 187 80 +2.5 -6.0 +9.5 +11.7 -2.6 +4.1 -6.0 +6.5 +4.9 +30.2 143 136 961 1032 -4.9 +7.4 +20. 1 +31. 5 -20.4 39, 883 827, 982 152 +J 1920 1920 1, 072, 633 1, 061, 149 1 101 113 | 548 785 +24.9 +25.7 | 1, 339, 379 1, 333, 749 : .... +22. 1 +28.1 +25.3 +29.4 +0.9 -10.6 -5.3 +110.2 1913 1913 1913 1913 1913 155 165 176 167 166 155 164 174 166 166 Eleven months' average, February to Dacsmber, inclusive •» Twelve months' average, June, 1919, to May, 1920. 144 156 165 154 136 142 155 160 153 139 -0.8 10 -2.5 -0.4 0.0 -8.2 -5.9 -8.0 -7.6 — 1fi. 0 3,1 TREND OF BUSINESS MOVEMENTS—Continued Per ct. Per cent RELATIVE increase! increase (+) NUMBERS (+) or decrease (— ) or deBASE crease YEAR CUMULATIVE TOTAL (-) 1925 OR 1924 FROM JANUARY 1 cumuMarch Mar., 1925, THROUGH LATEST lative PERIOD from from MONTH 1925 Febru- Mar., from ary Feb. Mar. Feb. Mar. 1924 1924 1924 1925 NUMERICAL DATA In many cases April figures are now available and may be found in the special table on page 25 1935 March, 1924 March January February IRON AND STEEL— Continued Iron and Steel Products Exports (selected series) long tons Exports (total). long tons.. Imports _ _ . long tons. . Vessel construction: Completed during monthTotal gross tons Steel seagoing gross tons Building or under contract, end of mo. — Merchant vessels -thous. of gross tons.. Structural steel, fabricated: Sales (prorated) ._ .short tons_. i Sales per ct. of capacity Shipments (prorated) short tons.. i Shipments per ct. of capacity. _ Steel furniture, shipments thous. of dolls .. Steel plate, fabricated, bookings:* Total short tons Oil storage tanks short tons 116,715 141,714 72, 921 77, 989 102, 302 85, 872 126, 154 155, 386 84, 376 105, 309 124, 753 36, 411 458, 122 539, 770 99, 256 15, 073 12, 838 5,329 3,340 23, 966 18, 808 21, 782 17, 761 36, 512 23, 329 190 185 196 168, 200 i 171, 100 159 158 171, 100 i 182, 700 159 163 1,653 1,557 205, 900 71 214, 600 74 1,584 i 200, 100 i 69 i 182, 700 163 1, 661 i 22, 552 2,908 21, 346 4, 699 56, 805 11,032 27, 064 4,314 20, 795 3,321 320, 858 -30.0 399, 402 -26.0 243, 169 +145. 0 1913 1922 1913 60 100 139 46 75 137 34 61 323 44, 368 34, 986 +21.5 +50.0 1916 1916 9 7 47 66 12 12 609, 000 545, 200 -10.5 527, 800 568, 400 +7.7 179 4, 858 4,794 i -1.3 70,411 10, 543 1916 16 14 15 1913 1913 196 142 191 138 163 118 1919 177 183 171 j 397 343 54 10, 335 9,881 454 62 62 0 10, 716 10, 503 213 45 45 38, 046 37, 684 362 518 512 6 30, 699 30, 457 242 597 558 39 284 -25.7 211 -42.5 73 +386. 7 14, 696 14, 475 221 306 275 31 29, 416 +100. 2 28, 215 +94.9 1,201 +443. 4 175 -42.8 175 -36.4 0 0.0 55, 604 54, 202 1,402 742 727 15 5,388 90 49 4, 679 111 i 106 ; 38, 134 308 5,510 4,730 13, 150 145 658, 630 140 683, 565 3ii j +5.9 +9.5 +20.3 +20.3 + 17.5 i +22 2 +1.7 174 +2.9 +2.9 + 17.5 +22.2 -4.6 1 +8.4 ! -12.4 +5.6 -38.1 16 196 142 43 116 4 28 66 13 36 +28.2 -17.4 85 i +27.4 -27.3 18 +33.3 +300. 0 40 55 9 30 38 13 34 39 22 +12.6 -16.3 +2.3 -28.9 +77.8 +140. 0 1919 1919 1919 1919 1919 1919 43 38 64 73 1 3 400 726 691 ,209 0 63 87 143 9 326 564 0 90 152 4 237 409 0 +3.7 +133. 7 +6.3 +135. 9 -53.1 +61.4 -27.4 -67.4 -27.4 -66. 2 0.0 0.0 1919 1919 1919 1919 1919 1919 97 1 436 419 32 84 8 38 52 8 1920 1920 1920 4,585 4, 453 132 138 1 133 +10.0 +5.9 ! i i i 1913 1920 1920 534 494 40 o i 382 367 15 132 128 4 109 93 16 ! 1 447 351 96 85 73 12 52 +349. 7 69 +463. 1 +24.0 -4.4 Railway Equipment Locomotives (Bureau of the Census) : Shipments— Total number _ 90 45 Domestic . . _ ..number.. Foreign number 45 Unfilled orders — Total number 407 Domestic number.. 351 Foreign number 56 Shipments (I. C. C.): 8,365 Freight cars, total number Domestic . _ number. 7,831 534 Foreign number Passenger cars, total . number . 68 68 Domestic . _. number.. Foreign number . 0 Unfilled orders (I. C. C.): Freight cars, total number . 43, 655 42, 848 Domestic number Foreign number . 807 522 Passenger cars, total number.. Domestic number _ 516 Foreign number 6 Domestic orders (Railway Age) : Freight cars number 10, 312 Passenger cars number 78 52 Locomotives number Total orders (Iron Trade Review): Freight cars number 1,695 Electric locomotive shipments (quarterly) : Mining— Quantity number ' 154 Value dollars ' 721, 472 Industrial'13 Quantity number Value . . dollars. .? 179, 870 Locomotive exports: t Steam39 Quantity number 810,401 Value dollars ElectricI Quantity number Value ._ . dollars . 118, 509 +61.8 +19.8 +51.9 +24.6 -1.7 +131.7 55 93 318 64, 075 727 541 20, 379 279 207 -68.2 -61.6 -61.7 1920 1920 1920 62, 650 11,935 -80.9 1913 1 I i 41 33 -19.3 -44.8 68 55 -19.2 -43.8 1 1 -33.1 -82.7 293 337 +15.3 -19.5 +9.0 -23.2 441 481 64 +550. 0 +160. 0 10 57 61 648 33 627 25 278 257 56 543 208 187 77 61 30 67 -13. 2 75 +23.3 64 +116.3 -87.7 -64.0 -65.9 304 125 52 45 -14.2 -64.0 -5.8 -8.7 +3.6 -3.6 -46.2 -73.8 -84.4 -83.8 ; 1 i! 45 47, 059 ! 291, 031 13 267, 932 27 409, 292 20 i 171, 690 i 2 7,563 6 21, 127 6 20, 938 i| +107. 7 +35.0 +52.8 +.13S. 4 +200. 0 +179. 3 0.0 +0.9 Machinery Machine tools, orders index number _ Foundry equipment: Sales .. . . dollars _ 304, 725 Shipments 1 1 dollars _ 305, 581 421, 918 Unfilled order dollars Stokers: 57 Sales number Sales horsepower 27, 871 Agricultural pump shipments: 523 Total thous. of dolls.. 59, 815 Pitcher, hand, etc number Power pumps number 2,213 Steam, power, and centrifugal pumps: 1,148 New orders thous of dolls 946 Shipments . _ ..thous. of dolls.. 2,417 Unfilled orders thous. of dolls .. Patents issued: 3,057 Total, all classes number 54 Agricultural implements number 50 Internal-combustion engines number. _ Washing-machine sales: Total number 57, 305 Electric number 46, 207 * t See text on p. 29. 326, 887 i 469, 325 277, 856 348. 590 545, 540 446, 895 135 46, 298 387,579 ' 1,182,761 389,800 ; 1,050,976 600 251 131 71, 099 517 60, 030 2, 539 1,088 1 1, 067 2,422 ; 1, 542 1,319 2, 627 3,320 45 60 4, 146 77 83 66, 720 i 53, 038 73, 739 61, 108 ; 1 ; 56 58 1922 1922 ! 1922 i j ! 137 135 166 140 152 162 1919 1919 47 118 38 66 58 88 94 97 98 103 112 109 85 121 76 63 45 76 94 45 66 83 41 105 53 119 110 61 93 117 57 140 290 163,202 323 145,268 +11.4 11.0 576 50, 056 , 3, 065 1,113 102, 900 5, 863 1, 040 119,845 4,752 1919 -6.6 +16.5 I 1922 1922 -18.9 i i 1, 267 1,211 i 3,384 3,391 3,778 3,332 1919 +11.6 +1-7 ;1 1919 ; 85 1913 1913 1913 i > I 1920 1920 • 1919 3, 105 48 40 9,465 132 133 10, 523 176 193 +11.2 +33.3 +45.1 69, 061 57, 469 179, 461 148, 847 197, 764 160, 353 +10.2 +7.7 Revised. -3.4 +21.1 -10. 6 -9.1 51 | -6.9 -11.3 89 i 34, 597 ; < 2, 709 +9.8 118 170 +43. 6 108 136 i +25. 5 121* 148 +22. 1 1920 1, 100, 937 932, 027 ! 1 7 56 -3. 0 +47.2 56 135 i +53.6 +105. 5 ; 93 ! +41.7 102 i +23. 6 44 +8.5 +21. 7 +8.9 -3.0 147 1 +24.9 +33. 5 97 ! +71.1 +60. 4 193 +38.3 +107. 5 90 100 i +10.5 81 93 104 I 122 113 130 1 +15.2 Quar ;er en ding I)ec. 31, 1924. +6.8 +6.3 32 TREND OF BUSINESS MOVEMENTS—Continued Per ct. increase NUMERICAL DATA In many cases April figures are now available and may be found in the special table on page 25 1925 January February March or decrease CUMULATIVE TOTAL FROM JANUARY 1 THROUGH LATEST MONTH March, 1924 1924 BASE YEAR 1924 OR cumulative 1925 from 1924 1925 Per cent increase (+) 1 or decrease (— ) RELATIVE NUMBERS 1925 PERIOD March Mar., 1925, from from Febru- 1 Mar., ary 1924 I Feb. Mar. Feb NONFEBBOUS METALS Copper and Brass Copper: Production74, 358 Mines short tons.. Smelter _ short tons.. 82, 149 Refined (North and South America) quarterly * short tons.. 7 333, 872 World production, blister short tons.. 129, 783 Domestic shipments, refined ..short tons.. Stocks (North and South America)— Refined short tons.. ? 136, 434 Blister short tons . 1 237, 528 Exports short tons.. 49, 613 Wholesale price, electrolytic -dolls, per lb__ 1,471 Brass faucets: Orders received . . _ .number of pieces _ 657, 616 Orders shipped number of pieces 676, 537 Tubular plumbing sales: Quantity number of pieces 304, 015 Value dollars.. 251, 290 68, 789 78, 237 75, 383 87, 109 65, 181 74, 338 197, 493 223, 863 218, 530 247, 495 +10.7 +10.6 123, 467 327, 722 135, 623 326, 928 122, 616 359, 024 388, 873 +8.3 32, 101 1,446 122, 348 261, 628 62, 728 1,400 119, 463 238, 029 49, 334 1,352 394, 882 550, 333 313, 267 554, 565 260, 893 216, 019 146, 494 145, 024 +9.6 +15.7 +11.3 +17.2 | i -1.8 +0.2 +9.8 +10.6 -10.3 +2.4 +10.1 +9.9 -95.4 +27.1 —3 2 +3.6 128, 417 144, 442 +12.5 1913 i 127 140 91 389, 554 428,782 1, 401, 610 1, 185, 531 1, 365, 765 1, 781, 435 -2.6 +50.3 1923 1923 i 108 ; 76 81 82 82 106 65 j -20.7 107 | +0.8 -19.6 +29. 3 289, 694 288, 097 1, 099, 574 974, 421 711, 402 612, 333 -3L 2 1923 1923 ! 125 | 125 134 139 121 104 68 ! -43.8 70 -49.4 -49.7 ! + 17.3 +23.8 1913 1913 1913 1913 i 176 i 242 215 93 188 125 82 205 191 197 143 75 152 91 74 165 79 83 162 41 178 i Tin Stocks, end of month: United States long tons.. World visible supply long tons.. Deliveries (consumption) long tons Imports . . thous. of Ibs . Wholesale, price, pig tin... dolls, per lb_. 4,394 22,949 7,155 19, 519 .5769 3,949 23, 591 7,205 13, 703 .5652 5,184 19, 623 7,100 18, 003 j .5304 1,802 23, 275 4,560 7, 869 .5437 18, 300 41, 393 21, 460 51, 225 ; +3i.3 269 +187. 7 159 -16.8 -15.7 194 -1.5 +55. 7 188 ' +31.4 + 128.8 o4 j Zinc Retorts in operation, end of month.. number.. Production thous. of Ibs . Stocks, end of month thous. of lbs_. Ore, Joplin district: Shipments .._ thous. of Ibs . . Stocks thous. of Ibs. . Price, slab, prime western .dolls, per lb.. 86, 529 78, 092 102, 970 95, 550 34, 392 I 64, 148 i i 125, 596 1 168, 988 54, 000 | 65, 280 .0732 . 0649 86, 081 100, 772 37, 992 87, 377 93, 622 33, 406 135, 648 62,000 .0774 135, 974 52, 000 .0732 47, 634 4,889 47, 254 100, 925 .1017 45,413 5,961 45, 224 105, 812 .0943 53, 160 6,088 46, 081 short tons.. short tons.. 978 4,276 short tons. _ ..short tons.. 1, 269 6,997 Lead Production short tons.. Ore shipments, Joplin district short tons.. Receipts of lead in U. S. ore short tons.. Stocks, U. S. and Mexico short tons.. Price, pig desilverized (New York) dolls, per lb__ Crude:* Production Stocks _ Refined:* Production Stocks 171 236, 092 282, 834 385, 102 259, 987 297, 364 397, 218 +10.1 +5.1 1913 1913 1913 1 i +3.1 i " +22.2 +41.7 +17.5 119,691 11, 951 117,879 .0891 43, 109 4,352 39, 924 * 101, 244 .0901 1,224 i 4, 651 946 4,394 1,566 1,963 4, 442 3, 148 -29.1 1,218 7,336 1, 268 7, 055 1,791 1,624 5, 091 3, 755 -26.2 146, 207 16, 938 138, 559 82 i i —~ -1.0 +10.0 +3.0 +10.8 +7.8 -46.4 -7.6 -25. 7 i +3.8 -17.3 | 0.0 +12.8 1 +17.1 +23.3 i +2.1 +39.9 \ +1.9 + 15.4 I -5.5 -1.1 Arsenic _ _ Bituminous: Production thous. of short tons Exports _ thous. of long tons.. PricesMine average, spot dolls, per short ton.. Wholesale, Kanawha, f. o. b. Cincinnati dolls, per short ton.. Retail, Chicago. -dolls, per short ton.. Anthracite: Production _ thous. of short tons Stocks, distrib. points. thous. of long tons.. Exports . thous. of long tons PricesWholesale, chestnut, New York dolls, per long ton-Retail, chestnut, New York dolls, per short ton.. Coke: Production, beehive.. thous. of short tons.. Production, byproduct thous. of short tons Exports thous. of long tons.. Price, furnace, Connellsville .dolls, per short ton.. 1 -22.7 -39.6 j -5. 5 +123.8 j +4.1 -29.2 : -3.8 +334. 4 i j i FUELS 1 Coal and Coke 1 i 51,914 980 38, 963 820 37, 626 919 41,253 1,112 140, 979 3,421 128, 503 2,719 -8.8 ! 1913 i 119 103 -20.5 ; 1909-13 I 115 101 98 75 94 -3.4 84 ' +12. 1 -8.8 -17.4 2.09 2.0-1 1.98 2.15 1913 183 175 166 161 1 -2.9 -7.9 3.39 8.51 3.39 8.50 3.39 8.48 3.39 8.56 1913 1913 166 181 154 178 154 177 154 176 0.0 -0.2 0.0 -0.9 7,400 3,809 296 7,176 3, 692 289 7,058 4,068 201 8,114 2,016 311 1913 ! 100 1921 \ 62 1909-13 j 108 106 75 108 94 138 100 93 152 70 11.75 11.75 10.95 11.48 1913 216 216 I 221 206 14.33 14.42 14.42 14.33 1913 203 206 207 207 23, 659 21, 634 -8.6 893 786 -12.0 1,170 1,054 1,006 i 1,343 3, 708 3,411 63 3,125 61 3,468 66 3,221 ! 112 i 4.64 4.08 3.52 4.18 9, 296 221 | i I -1.6 -13.0 +10.2 + 101.8 -30.4 -35.4 -6.8 -4.6 0.0 +0.6 3, 230 -12.9 1913 43 48 38 38 -4.6 -25.1 10, 004 190 +7.6 -14.0 1913 ! 281 295 84 327 90 +11.0 +8.2 +7.7 -41.1 167 144 -13.7 -15.8 1 261 290 +11.3 +0.7 323 i 337 137 i 142 337 140 00 — 1.8 +4.1 + 1.9 -0.1 +4.0 +11.9 -26.1 1909-13 77 304 153 1913 172 171 268 288 Petr oleum Crude petroleum: Production-.. Stocks, end of month— Total (comparable) Days' supply Tank farms and pipe lines Refineries Imports * t See text thous. of bbls 59, 519 54, 045 60, 130 59, 729 352, 129 159 353, 325 165 353, 271 162 339, 516 159 : thous. of bbls.. 347, 943 348, 359 thous. of bbls. ! 43, 290 43, 670 thous of bbls 7,025 5,580 i Revised. on p. 29. 348, 157 43, 642 334,811 ! 39, 018 8,631 thous. of bbls.. number. - 171, 638 21,445 • <Fe bruary, 1924. 173, 694 + 1.2 1913 : 1913 | 320 1919 ; 138 18,980 11 5 ' 1919 ! 249 261 i 292 292 -0.1 1913 i 439 582 i 430 ! +14.2 Quarter e nding Dec. 31, H 24. 33 TREND OF BUSINESS MOVEMENTS—Continued Per ct. ! Per cent RELATIVE increase1 increase (+) NUMBERS ( } or decrease (— ) t 1 or deBASE crease YEAR CUMULATIVE TOTAL (-) OR 1924 1925 FROM JANUARY 1 cumu- PERIOD March Mar., 1925, THROUGH LATEST lative from from MONTH 1925 Febru- Mar., from Feb. Mar Feb. Mar, ary 1924 1924 1924 1925 NUMERICAL DATA In many cases April figures are now available and may be found in the special table on page 25 1925 March, 1924 January February March FUELS— Continued Petroleum— Continued Crude petroleum— Continued C onsumption— 66, 614 Total thous of bbls 65, 650 58, 087 Run to stills thous. of bbls 57, 333 59, 407 52, 993 11,014 Shipments from Mexico thous. of bbls.. 11, 704 10, 234 1. 293 Price, Kansas-Oklahoma _ dolls, per bbl_. 1.738 1.800 Oil wells completed number 883 1,085 990 Gasoline: Production thous. of gals.. 831, 652 790, 442 853, 574 Exports... thous. of gals.. 95, 518 99, 813 118, 854 Domestic consumption thous. of gals.. 596, 406 452, 427 620, 636 Stocks, end of month thous. of gals.. 1, 330, 236 1, 487, 142 1, 610, 868 Price, motor, N. Y dolls, per gal.. .170 .205 .210 Kerosene oil: Production thous. of gals 247, 727 214, 421 219, 908 Domestic consumption thous. of gals__ 137, 679 116, 796 118, 168 Stocks __. thous. of gals. . 378, 598 419, 582 440, 870 Price, 150° water white dolls, per gal-.215 .215 .215 Gas and fuel oil: Production thous. of gals.. 1, 171, 402 1, 058, 725 1, 203, 906 Domestic production thous. of gals.. 1, 163, 377 989, 405 1, 118, 235 Stocks. thous. of gals-. 1, 619, 688 1, 639, 105 1, 647, 523 Price, Pa., 36-40 at refin dolls, per gal-.068 .065 .069 Lubricating oil: Production thous of gals 103, 164 100, 503 118, 494 Domestic consumption thous. of gals.. 52, 104 66, 112 67, 026 Stocks thous. of gals__ 268, 699 275, 258 290, 055 Price, Pa., 600° fil., "D" at refineries dolls, per gal_. .324 .325 .320 63, 237 52, 699 13, 331 1.670 1,088 184, 634 153, 850 35, 051 190, 351 169, 733 32, 952 +3.1 +10.3 -6.0 2,772 2,958 +6.7 743, 248 2,122,307 79, 439 266, 982 467, 181 ! 1,370,306 1, 587, 585 .198 2, 475, 668 314, 185 1, 759, 469 +16. 6 +17.7 +28.4 682, 056 372, 643 + 11.0 -1.1 200, 039 ' 123, 740 1 330, 010 .220 614, 633 376, 698 1, 114, 412 3, 202, 727 3, 434, 033 1, 031, 767 ; 3,017,341 3, 271, 017 1, 487, 464 .060 101, 127 64, 584 249,418 289, 486 183, 551 322, 161 185, 242 271 166 547 162 57 290 125 617 179 68 266 176 474 186 62 301 197 542 193 68 +13.0 +3.8 +12.1 +12.7 +14.4 -12.2 +3.6 +7.8 +9.6 -0.3 1919 1919 1919 1919 1913 207 331 141 293 ! 119 225 259 163 336 118 240 325 190 315 125 259 388 217 341 122 +8.0 +14.8 +19.1 +49.6 +14.4 +32.8 +8.3 +1.5 -2.4 +3.5 1919 1919 1919 1919 101 101 102 110 103 107 110 110 110 102 140 108 113 101 147 108 +2.6 +9.9 -1.2 -5.6 +5.1 +33.6 0.0 -2.3 1919 1919 1919 1919 ' 161 166 1 192 | 115 175 180 191 114 167 173 211 133 189 195 212 131 +13.7 +8.0 +13.0 +8.4 +0.5 +10.8 -1.4 +13.3 1919 1919 i 1919 133 105 157 143 136 154 142 141 170 168 139 180 +17.9 -1.4 +5.4 +17.2 +2.4 +16.3 1919 80 84 89 90 +0.3 +6.9 1919 249 258 183 240 +31.4 +31.9 -7.0 -6.6 -14.3 1913 1913 1913 1913 1913 +7.2 +8.4 ! +11.3 +0.9 ; .304 1 AUTOMOBILES Production: Passenger carsTotal number of cars 212, 909 United States number of cars _ 204, 608 Canada number of cars.. 8,301 Trucks— Total.. number of cars 28. 099 United States number of cars. . 26, 534 Canada number of cars.. 1,565 Shipments: By railroads carloads.. 33, 817 Dri veaways number of cars _ _ 22, 334 By boat number of cars 349 Exports: Assembled — Total __ ..number of cars.. 17, 474 Passenger cars number of cars 14, 492 Trucks. _ number of cars 2,982 Accessories and parts thous. of dolls.. 4,764 From Canada — Total number of cars 5,174 Passenger cars . number of cars 3,732 Trucks number of cars 1,442 Accessories -and parts .dollars. . 285, 073 Foreign assemblies number of cars _ _ 13, 075 Internal-revenue taxes collected on: Passenger automobiles and motor cycles thous of dolls 6,599 Automobile trucks and wagons thous. of dolls 592 Sales of automobile accessories and parts . thous. of dolls . 33, 140 252, 785 242, 006 10, 779 332, 108 319, 094 13,014 357, 005 341.812 15, 194 994, 274 34, 334 32, 669 1,665 45, 012 42, 923 2,089 36,417 34, 377 2,040 100, 021 39, 720 31, 192 487 51,177 47, 466 1,114 54, 545 41, 555 495 153, 243 125, 638 1,946 124, 714 100. 992 1,950 16, 891 14, 739 2,152 5,363 27, 993 23, 265 4,728 8,450 16, 364 14, 035 2,329 8,056 46, 856 39, 978 6,878 21, 209 5,136 4,008 1,128 455, 750 11, 874 7,573 6,495 1,078 596, 640 15, 433 8, 566 6,477 2,089 697, 096 9,891 5,563 5, 749 277 797, 802 -19.8 +20.7 +7.4 ! | 1919 +31.1 +23.6 +31.4 +24.9 +25. 5 +2.4 125 138 130 171 -18.6 ! ! 1920 -19.6 1 1920 +0.2 1 1920 250 109 9 261 106 11 190 79 10 245 +28.8 -6.2 121 +52.2 +14.2 24 +128. 7 +125. 1 62, 358 52, 496 9,862 18, 577 +33.1 | +31.3 i 1919 1919 1919 1916 218 237 238 251 131 179 198 244 245 263 166 151 406 +65.7 +71.1 416 +57. 8 +65.8 364 +119. 7 +103. 0 238 +57.6 +4.9 18, 448 13, 801 4,647 1,417,776 32, 067 17,883 14, 235 3,648 1, 337, 463 40, 382 -3.1 +3.1 ! -21.5 t -5.7 i +25.9 1919 1919 1919 1919 1923 210 448 198 397 281 749 129 240 139 112 269 245 404 157 134 396 398 386 205 174 9,778 28, 074 17,911 -36.2 1920 98 140 80 461 736 2,881 1,330 -53. 8 1920 70 58 22 28, 786 32, 976 46, 631 146, 767 94, 902 -35.3 1920 52 57 55, 329 41, 721 .307 39, 607 46, 366 .346 46, 434 36, 909 .171 166, 103 108, 161 168, 628 130, 258 +20.4 +1.5 1913 1921 1913 731 187 24 481 206 21 tons.. 7 83, 391 tons.. 7 69, 894 87, 642 71, 343 74, 848 60, 920 tons-tonstons.. tons.. 7 54, 831 7 16, 332 7 27, 827 7 44, 159 54, 502 16, 272 29, 982 46, 254 68, 947 10, 440 30, 463 40, 903 thousands thousands ._ thousands ._ 3,555 5,962 2,994 3,681 6,696 2,835 3,957 7,132 3,392 3,428 5,763 2,902 thousands thousands.. .thousands _ 4,757 8,677 4,107 4,755 9,767 3,625 5,250 10, 677 4,176 4,219 8,158 3,421 43 160 32 43 153 43 46 143 52 61 174 50 107, 445 ! +43.4 j -12.4 +47.4 +30.9 +30.0 -11.6 +0.3 -48.4 -14.4 +56.0 83 +3.3 -41.2 37 +66.4 -37.4 35 40 +14.6 -29.3 573 233 38 410 259 43 +62. 1 -4.4 1 RUBBER Crude Rubber Imports Consumption by tire mfrs Wholesale price, Para, N. Y Consumption (quarterly) : Total For tires _ Stocks, end of quarter: Total Manufacturers Dealers _ Afloat ..thous. of lbs_. thous. of lbs_. dolls, per lb._ _ 73, 692 42, 171 .318 -28.4 -14.7 +11.1 +25.6 +12.7 +102. 3 +5.1 +17.1 +2.7 +17.1 0 6 -21.0 -0.4 +55. 9 +7.7 -1.6 +4.7 +13.1 1 Tires and Tubes Pneumatic tires: Production Stocks, end of month Shipments, domestic. Inner tubes: Production Stocks, end of month Shipments, domestic. Solid tires: Production Stocks, end of month ShiDments, domestic thousands thousands.. .thousands. . 7 Quarter ending Dec. 31, 1924. 9,927 11, 193 +12.8 8,488 9,221 +8.6 12, 175 14, 762 +21.2 10, 227 11, 908 +16.4 164 132 -19.5 130 127 -2.3 1921 1921 1921 180 125 147 189 137 152 202 159 149 218 169 178 +7.5 +15.4 +6.5 +23.8 +19.6 +16.9 1921 1921 1921 180 161 145 187 179 149 211 232 214 234 158 182 +10.4 +24.4 +9.3 +30.9 +15.2 +22.1 1921 1921 1921 155 70 173 75 114 122 66 98 +7.0 -6.5 4-20 9 98 130 62 118 -24.6 -17.8 4-4 0 34 TREND OF BUSINESS MOVEMENTS—Continued Per ct. increase (+) or de- ! crease NUMERICAL DATA In many cases April figures are now available and may be found in the special table on page 25 1925 March, 1924 January February March CUMULATE7E TOTAL FROM J A.NUARY 1 THROUG H LATEST MONTH 1924 (-) ! 1925 cumu- j lative ! 1925 from i 1924 j Per cent increase (+) or decrease (— ) RELATIVE NUMBERS BASE YEAR j OR PERIOD j March far., from ! f1925' Febru- !\ ^ Feb. Mar. Feb. Mar, ar> 1 Mar., 1924 1925 1934 RUBBER— Continued Other Rubber Products Rubber heels: 19, 170 Production * thous of pairs Shipments — To shoe manufacturers.thous. of pairs __ 11, 180 3,182 To repair trade thous of pairs 37, 539 Stocks end of month thous of pairs Rubber-proofed fabrics: Production — 1,685 Total thous. of yds.. 717 Auto fabrics _ thous. of yds.. 342 Clothing fabrics thous of yds Reclaimed rubber (quarterly) : 7 25. 263 Production _ tons 7 Stocks, end of quarter tons 8 838 Scrap rubber (quarterly) : Stocks at reclaimers tons 7 41 973 7 31, 344 Consumption by reclaimers. . tons 4 17, 627 10, 089 2,870 42, 303 j — 1,929 716 440 16, 036 30, 262 36, 797 +21.6 * 10, 668 * 3, 591 * 35, 113 22, 475 7,747 21, 269 6,052 -5.4 -21.9 * 2, 652 4 1, 485 <455 5,408 2,961 977 3,614 1,433 782 -33.2 -51.6 -20.0 25, 353 9,238 21, 834 7,885 40, 045 32, 630 36, 023 28, 043 _ . i 11 j +0.4 +4.5 +16.1 +17.2 -3.0 +11.2 +4.1 +16.4 HIDES AND LEATHER Hides Imports: Total hides and skins ..thous. of lbs__ Calfskins _ thous. of lbs__ Cattle hides ...thous. of lbs._ Goatskins .thous. of lbs__ Sheepskins.. thous. of lbs_. Stocks, end of month: Total hides and skins thous. of Ibs Cattle hides . . thous. of Ibs Calf and kip skins .thous. of Ibs Sheep and lamb skins thous. of Ibs Prices: Green salted, packers' heavy native steers .dolls, per lb__ Calfskins, country No. 1 dolls, per lb__ Leather Production: Sole leather. -thous. of backs, bends, sides.. Finished sole and belting.. .thous. of lbs._ Finished upper _ thous. of sq. ft.. Oak and union harness stuffed sides.. Skivers _ ». doz Unfilled orders: Oak and union harness, _ sides Stocks in process of tanning: Sole and belting .thous. of Ibs. _ Upper thous. of sq. ft.. Stocks, end of month: Sole and belting thous. of Ibs.. Upper thous. of sq. ft.. Exports: Sole thous. of lbs_. Upper thous. of sq. ft.. Prices: Sole, oak, scoured backs, heavy, Boston dolls, per lb__ Chrome calf, "B" grades.dolls. per sq. ft 34, 302 2,216 18, 636 7,411 4,524 30, 727 2,409 15, 301 7,154 3,439 36, 135 2,952 14, 216 8,335 8,003 30, 713 3,301 15, 756 5,022 5,336 292,311 251, 758 27, 531 13, 022 292, 364 254, 751 25,690 11, 923 282, 733 242, 820 25, 893 14, 020 .169 .215 .163 .215 1, 288 22, 160 70, 249 102, 459 43, 977 101, 164 7,577 48, 153 22, 900 15, 966 +23.0 -20.8 +22.4 +70.6 +8.5 84 +17.6 43 +22.5 -7.1 74 102 +16.5 151 +132. 7 +17.7 -10.6 -9.8 +66.0 +50.0 66 72 44 43 -3.3 -4.7 +0.8 +17.6 -3.4 -0.7 -20.7 -9.4 89 115 80 108 -9.2 -5.1 +6.5 +8.5 65 84 123 112 147 64 78 117 114 178 70 91 119 125 180 -27.7 -27.2 81 89 79 88 76 85 81 84 +6.1 -1.2 +2.8 -4.9 1921 1921 88 90 85 92 64 .73 64 76 -0.9 +3.6 -25.4 -17.6 1913 1913 65 67 52 80 67 76 72 95 1913 1913 98 171 103 171 116 186 116 186 0.0 0.0 +13.0 +8.7 1919 1919 59 52 61 54 51 45 60 53 +19.0 +19.5 -1.2 -1.4 1919 1913 97 60 105 62 99 55 108 83 +10.0 +52.2 +3.7 +33.7 1909-13 1909-13 1909-13 1909-13 1909-13 68 54 68 62 102 72 48 82 61 101 72 35 80 87 65 292, 670 244, 553 32, 636 15, 481 1921 1921 1921 1921 69 74 54 45 68 72 56 47 68 75 44 36 .148 .204 .139 .188 1913 1913 86 96 76 100 1,203 20, 006 67, 728 97, 767 41, 244 1,315 23, 459 68, 871 107, 891 41, 569 1,213 21, 475 71, 512 134, 233 34, 164 1919 1921 1921 1919 1919 65 85 128 104 129 121, 342 111, 073 80, 356 110,428 87, 907 138, 300 84, 898 139, 046 90, 047 137, 378 87, 622 144, 156 1921 1921 123, 035 309,319 124, 265 308, 401 123, 201 319, 634 165, 214 387, 697 2,052 8,669 1,752 6,763 1,870 8,392 1,361 7,110 .500 .500 .520 .500 .520 .500 .460 .460 82, 248 9,566 39, 332 13, 426 14, 712 3,804 67, 200 221, 861 388, 773 98, 624 4,406 18,497 3,806 65, 625 206, 848 308, 117 126, 790 5,674 23,824 -0.1 -2.3 -6.8 -20.7 +28.6 +28.8 +28.8 +9.3 +8.4 +17.3 +9.2 +1.7 -3.7 +10.4 -19.6 +0.8 +21.7 +6.7 +37.4 +24.1 +18.0 Leather Products Belting sales: Quantity _ thous. of Ibs.. 409, 252 360, 984 429, 404 434, 494 1, 293, 609 1, 199, 640 -7.3 Value. ._ thous. of dolls 739 610 729 -8.2 2,207 686 2,025 Boots and shoes: Production thous. of pairs 28, 864 29, 927 82, 193 83, 405 27, 202 26, 276 +1.5 Exports __ thous of pairs 703 512 1,677 +18.9 1,411 526 462 Wholesale pricesMen's black calf, blucher, Mass dolls, per pair.. 6.25 6.35 6.40 6.35 Men's dress welt, tan calf, St. Louis dolls, per pair.. 4.85 5.07 5.15 5.00 Women's black kid, Goodyear welt, St. Louis dolls, per pair.. 4.00 3.85 4.00 4.00 Gloves: Glove leather — Production number of skins.. 551, 681 578, 710 563, 845 600, 548 1, 794, 768 1, 694, 236 -5.6 Stocks (tanned) — In process number of skins.. 1,401,895 1, 392, 075 1,319,830 1, 708, 118 Finished number of skins . 257, 567 311, 005 362, 162 597, 514 Gloves cut — Total dozen pairs 211, 286 198, 749 209, 337 189, 555 597, 641 612, 736 -2.5 Dress and streetImported leather dozen pairs,. 35, 334 33, 769 37, 182 42, 550 85, 035 115, 066 +35.3 Domestic leather dozen pairs.. 29, 612 34, 630 36, 443 36, 570 105, 416 -4.4 100, 812 Work gloves dozen pairs.. 124, 609 126, 937 130, 217 141, 074 422, 285 381, 763 -9.6 1 February, 1924. • Quarter ending Dec. 31,1924. Relatires indicated for February and percentage comparisons with that month refer 1913 201 201 204 206 +0.8 +2.4 1913 153 153 160 163 +1.6 +6.2 1913 142 142 147 147 1 0.0 +3.9 ! -2.6 -6.1 -5.2 +16.4 -22.7 -39.4 ; +5.3 -0.9 +14.4 +5.6 +2.6 +26.0 +0.3 -7.7 to quarter ending the previous December. 35 TREND OF BUSINESS MOVEMENTS—Continued Per ct. increase ( } or tdecrease CUMULATIVE TOTAL (-) FROM JANUARY 1 \ cumuTHROUGH LATEST lative MONTH 1925 from 1924 1924 1925 In many cases April figures are now available and may be found in the special table on page 25 1925 March, 1924 February January March i Per cent increase (+) or decrease (— ) RELATIVE NUMBERS NUMERICAL DATA BASE YEAR OR ERIOD 1924 1925 March Mar., 1925, from Febru- from Mar., ary Feb.]Vlar. Feb. Mar. 1924 i PAPER AND PRINTING Newsprint Paper 129, 005 126, 860 139, 024 112, 586 1,573 113, 831 114, 048 131, 270 110, 942 1,875 126, 843 125, 779 153, 322 127, 918 1,007 119, 464 119, 062 144, 504 121, 904 1,314 26, 268 164, 832 31, 746 25, 888 163, 615 33, 667 26, 414 156, 946 33, 898 30, 742 175, 508 31, 438 644 131 11, 186 543 152 11, 375 756 108 12, 874 657 184 11, 439 1, 642 504 34, 358 1, 943 391 35, 435 +18.3 -22.4 +3.1 Operation inch hours 8, 195, 945 7, 355, 544 , 367, 059 175, 690 172, 807 Production tons i 195, 427 162, 543 159, 289 Orders received tons 196, 764 89, 161 100, 042 Unfilled orders (end of month) tons _ 112, 495 164, 709 165, 838 Consumption of waste paper tons 189, 438 Stocks of waste paper (end of month) : 168, 414 164, 341 On hand tons 164, 359 13, 139 16, 610 In transit tons 18, 846 22, 948 27, 110 34, 974 Unshipped purchases tons 175, 671 170, 638 Shipments tons 191, 465 47, 392 48, 786 Stocks of boxboard (end of month) _tons._ 47, 275 , 985, 292 196, 144 191, 682 96, 974 182, 672 548, 977 551, 290 543, 924 518, 596 -0.9 -5.9 519, 985 +1.1 Production . _ Shipments Consumption Imports Exports Stocks, end of month: At mills _ _ Vt publishers In transit to publishers . .short tons_. short tons short tons short tons short tons _ _ .short tons.. short tons short tons.. 309, 679 +0.3 366, 687 +1.6 423, 616 +4.0 351,446 1 +5.6 4,455 +1.2 368, 700 360, 983 407, 215 332, 835 4,403 104 1919 1919 ! 102 92 1919 564 1913 39 1913 104 104 102 665 36 99 99 92 606 52 Ill 109 108 698 28 +11.4 +10.3 +16.8 +15.3 46.3 +6.2 +5.6 +6.1 +4.9 -23.4 1919 1919 1919 127 119 97 128 113 77 108 105 82 110 101 83 +2.0 -4.1 +0.7 -14.1 -10.6 +7.8 1913 1913 1919 1920 65 69 118 101 81 89 116 107 67 74 115 96 93 52 131 +39.2 -28.9 +13.2 +15.1 -41.3 +12.5 +0.2 +1.7 +2.0 -10.9 -0.7 -18.0 —10.4 -15.2 -8.1 -9.8 +2.5 -20.9 -15.4 +2.9 -2.9 +22.5 -14.8 -6.3 -11.3 +3.6 +2.5 +1.7 +5.6 -0.7 +8.4 -24.0 +2.6 +3.9 -1.3 -6.0 -1.2 -16.7 Printing Book publication: American manufacture no. of titles ^ Imported no of titles Sales books, shipments thous. of books Printing activity weight index number Boxboard 514, 128 i 137, 524 15, 417 24, 480 197, 962 45, 728 546, 577 537, 774 -1.6 954, 627 688, 721 265, 906 977, 491 760, 281 217, 210 +2.4 +10.4 -18.3 Paperboard Shipping Boxes Production: Total Corrugated Solid fiber... Operating activity: Total Corrugated Solid fiber thous. of sq. ft.. thous. of sq. ft.. thous. of sq. ft.. per cent of normal per cent of normal per cent of normal 302, 291 228, 084 74, 207 333, 431 263, 862 69, 569 341, 769 268, 335 73,434 71 70 73 76 76 76 78 79 75 100, 565 9,582 63.7 87.9 94, 935 10, 764 66.4 107.3 92, 097 12, 028 22, 463 142, 119 27, 560 104, 262 18, 896 120, 194 22, 552 86, 556 33.9 13,496 41.6 12, 913 43.6 12, 607 44.0 14, 221 38«5 38.7 39.4 50.0 52.0 45.1 54.3 58.8 49.7 50.5 54.6 44.6 344, 083 i 247, 460 96, 623 1922 139 1922 ! 154 1922 111 151 166 125 151 180 95 147 177 90 83 80 90 Other Paper Products Rope paper sacks, shipments index number Abrasive paper and cloth: Domestic sales reamsForeign sales reams Folding boxes orders per cent of capacity Labels, orders per cent of capacity.. 109 133 127 142 +11.8 +6.8 1919 ! 136 1919 ! 93 1921 1 169 188 1921 141 115 159 294 139 117 139 243 135 131 -3.0 +11.7 -4.4 +14.0 31922 96, 376 10, 553 4 81.0 4 83.0 278, 997 27, 466 287, 597 32, 374 +3.1 +17.9 57, 849 299, 299 68, 919 366, 575 +19. 1 +22.5 t Wood-pulp Imports Mechanical Chemical short tons short tons _ _ 1909-13 1909-13 107 487 137 339 167 409 115 471 -31.4 +15. 3 -16.2 +38.9 1922 1922 94 113 95 113 90 103 95 100 +5.6 -2.4 0.0 -11.3 81921 81921 81921 125 144 127 138 151 125 136 144 126 148 162 139 +8.8 +12.5 +10.3 +7.2 +7.3 +11.2 1919 1919 128 ! 139 58 77 90 35 97 42 +7.8 +20.0 -30.2 -27.6 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 BUILDING CONSTRUCTION AND HOUSING Rental advertisements: Portland Oreg number Minneapolis IVIinn number Real estate conveyances (41 cities)... number.. 1,025 3,106 135, 932 1,008 2,624 123, 838 3,381 157, 285 4 740 3,381 149, 863 1 397 8^742 427,197 2,033 9,111 417,055 +45 5 +4 2 -2.4 i I +28.8 +27.0 0.0 +5.0 0.0 -0.5 -3.9 -4.3 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., . .. Plumbing fixtures, 6 articles 3 Twelve months' average, July to June, inclusive, ending the year indicated. 4 February, 1924. 8 Twelve months' average, May, 1921, to April, 1922, inclusive. 1913 1913 205 209 206 209 198 201 198 200 1913 225 222 210 210 1914 1913 202 183 202 197 183 ! 172 195 170 0.0 -1.0 -1.2 -5.4 -3.5 -7.1 36 TREND OF BUSINESS MOVEMENTS—Continued. Per ct. Per cent RELATIVE increase increase (+) NUMBERS (+) or decrease (— ) or deBASE crease YEAR CUMULATIVE TOTAL (-) OR 1924 1925 FROM JANUARY 1 cumu- PERIOD March Mar., 1925, THROUGH LATEST lative from from MONTH 1925 Febru- Mar., from Feb. Mar. Feb. Mar. ary 1924 1924 1924 1925 NUMERICAL DATA In many cases April figures are now available and may be found in the special table on page 25 1925 March, 1924 January BUILDING CONSTRUCTION AND HOUSING— Continued Construction and Losses Construction volume index number Contracts awarded (27 States) : Commercial buildings thous. of sq. ft._ Industrial buildings thous. of sq. f t _ _ Residential buildings thous. of sq. ft.. Educational buildings thous. of sq. f t _ _ Other public and semipublic buildings thous. of sq. ft._ Grand total thous. of sq. f t _ _ Contracts awarded, value (27 States) : Commercial buildings thous. of dolls.. Industrial buildings thous. of dolls. _ Residential buildings thous. of dolls.. Educational buildings thous. of dolls.. Other public and semipublic buildings thous. of dolls Public works and utilities -thous. of dolls.. Grand total thous. of dolls Contracts awarded (36 States) : Commercial buildings thous. of sq. ft.. Industrial buildings thous. of sq. ft.. Residential buildings thous. of sq. ft.. Educational buildings thous. of sq. ft.. Other public and semipublic buildings thous. of sq. ft.. Grand total . thous. of sq. ft Contracts awarded, value (36 States) : Commercial buildings thous. of dolls.. Industrial building^ _ thous. of dolls.. Residential buildings thous. of dolls.. Educational buildings thous. of dolls.. Other public and semipublic buildings . thous. of dolls.. Public works and utilities.thous. of dolls.. Grand total thous. of dolls Fire losses: United States and Canada.thous. of dolls.. Great Britain thous. of £ sterling February March 1913 128 134 141 129 -8.5 -3.7 9,669 3,794 23, 518 2,034 5,379 2,489 23, 734 3,322 9,860 4,096 40,321 5,209 10, 000 4,225 44, 389 4,615 24,611 11,041 107,119 12,024 24, 908 10,379 87, 573 10, 565 +1.2 -6.0 -18.2 -12.1 1919 1919 1919 1919 86 30 139 253 108 33 220 241 58 19 118 173 107 32 200 272 +83.3 +64.6 +69.9 +56.8 -1.4 -3.1 -9.2 +12.9 2,724 42, 342 3,025 38, 650 4,715 64,400 4,893 68,425 10, 258 166,328 10,464 145,392 +2.0 -12.6 1919 1919 140 103 218 147 135 83 210 I +55.9 138 +66.6 -3.6 -5.9 61,792 16, 793 112,402 13, 595 29,690 16,303 118,556 17, 772 47, 859 47,518 200, 493 40, 541 58, 600 19,437 206, 089 29, 567 133,218 56,217 494, 405 72, 229 139, 341 80, 614 431,451 71,908 +4.6 +43.4 -12.7 i -0.4 1919 1919 1919 1919 120 40 183 268 173 45 291 297 88 38 168 178 142 +61.2 -18.3 111 +191.5 +144. 5 283 +69.1 -2.7 407 ,+128.1 +37.1 28,425 22,359 255, 367 25, 638 44, 500 252, 582 37, 200 56, 075 430, 413 34, 859 37, 663 386, 483 69, 583 80, 759 907, 067 91,263 122,934 938, 362 +31.2 +52.2 +3.5 1919 1919 1919 137 60 121 241 90 180 177 106 117 257 134 200 10, 919 4, 335 26, 791 2,371 7, 467 3,308 27, 850 3,809 11,772 4, 836 45, 534 5,557 11,455 4, 744 I 49, 838 5,748 28, 653 12,635 119,131 14,701 30,158 12,479 100, 175 11,737 +5.3 -1.2 -15.9 -20.2 3,217 48, 536 3,746 46, 801 5,571 ! 73,555 | 6,017 ! 78, 326 12, 948 189,829 12, 534 168, 952 -3.2 -11.0 67, 372 19, 454 127,232 15,339 38, 825 20, 767 136,023 20, 278 54,871 I 53, 133 220,872 I 42,193 64,432 ! 21,763 227, 461 34,062 1 149, 949 65, 592 539, 726 83, 736 161,068 93, 354 484, 127 77, 810 +42.3 I +10.3 ! -7.1 31,614 35,462 296,473 30, 501 52, 865 299, 260 41,917 67, 931 480, 916 40, 720 84, 987 44,895 i 111,232 433, 340 \ 1,035,221 104, 032 156,258 1,076,649 +22.4 +40.5 +4.0 41,210 481 32,472 321 33, 347 1,189 101,098 2,092 107,029 1,991 +5.9 -4.8 1919 1920 140 104 127 71 i« 45 149 +2.7 +17.4 168 +270.4 +138.3 1, 368, 453 1, 351, 752 1, 342, 846 1, 441, 547 1,345,411 1, 332, 584 +5.3 -0.5 I -0.8 198, 292 213, 436 +7.6 1917 1917 1917 1917 1919 106 95 86 80 165 111 99 93 82 137 107 96 96 82 146 118 107 98 84 158 1919 193 191 205 204 1, 543, 488 1,541,251 1, 465, 599 217, 935 180, 996 1, 557, 814 1, 546, 175 1, 517, 525 146, 149 80, 706 +0.9 +0.3 +3.5 22 9 -5S1 4 1917 1917 1922 1919 1922 1913 158 164 111 223 361 212 148 167 121 202 294 201 150 157 118 131 150 201 150 161 134 241 256 201 145, 407 125, 369 131,410 136, 616 117,235 116, 802 -6.0 -6.5 -11.1 1918 1918 1918 118 136 132 166 173 183 112 140 122 108, 890 179, 435 132, 477 249, 553 +21.7 +39.1 1918 1918 1918 71 198 199 105 200 174 325, 004 403, 727 317, 640 383, 488 -2.3 -5.0 1917 1917 1920 93 128 105 148, 302 151,487 153, 279 154, 700 +3.4 +2.1 1919 1919 110, 537 138, 031 149, 932 108, 831 121,312 108, 663 -1.5 -12.1 -27.5 26, 784 34, 179 29, 025 23, 256 53, 295 56, 797 28, 406 499 Lumber Southern pine: 468, 285 Production (computed) M ft. b. m__ 489, 487 453, 618 498, 442 474,239 i 435, 417 Shipments (computed) M ft. b. m_. 446, 066 425, 106 467, 704 Orders (computed) M ft. b. m 435,272 \ 416, 926 429, 608 Stocks, end of mo. (computed) M ft. b. m.. 1, 103, 887 1, 123, 581 1,150,976 1, 123, 328 69, 859 58, 183 80,658 Exports (incl. timber) M ft. b. m__ 74, 595 Price, "B" and 47.32 43.99 better . dolls, per M ft. b. m 46.95 46.88 Douglas fir: 518, 823 Production M ft. b. m 507, 185 525, 986 524, 643 505, 842 519, 271 538, 520 Shipments (computed) M ft. b. m__ 521, 062 New orders M ft. b. m 468, 239 503, 156 490, 174 559, 112 52, 853 32, 850 60, 446 50, 576 Exports, lumber M ft. b. m Exports, timber M ft. b. m._ 22, 358 36, 758 42, 277 21, 590 Price,No. 1 common.dolls. per M ft. b. m_. 19.50 18.50 18.50 ' 18 50 California redwood: Production (computed) ..M ft. b. m._ 41,822 43, 385 62, 367 51,409 Shipments (computed) M ft. b. m_. 36, 246 40, 904 49, 525 40, 085 Orders received (computed) _.M ft. b. m.. 40, 618 52, 597 35, 194 40, 990 California white pine: Production _ M ft. b. m 34, 979 32, 614 55, 151 64, 884 Shipments M ft. b. m__ 84, 316 76, 820 88,417 63, 883 Stocks, end of month.. M ft. b. m 550, 925 495, 533 467,330 I 462,311 Western pine: Production (computed) __M ft. b. m._ 77, 994 i 96, 184 143, 462 148, 073 Shipments (computed) M ft. b. m_. 133, 718 i 120, 398 134, 880 129, 372 Stocks,end of mo. (computed). M ft. b. m.. 899, 658 i 867, 676 936, 050 880, 789 North Carolina pine: Production (computed) __M ft. b. m__ 41, 426 55, 622 50, 988 56, 231 Shipments (computed) M ft. b. m__ 44, 639 53, 844 48, 482 56,217 i Northern pine: LumberProduction. __ . M ft. b. m 33, 414 33, 905 41,512 1 36, 638 Shipments M ft. b. m._ 44, 457 39, 466 37,389 ; 49, 905 Orders received M ft. b. m__ 40, 527 35, 650 53, 315 32,486 I LathProduction . M ft. b. m 8,943 9,301 10,781 8, 906 Shipments M ft. b. m 6,566 7,333 12, 968 9,357 | Northern hemlock: Production M ft. b. m 18, 664 14, 095 18, 002 16, 674 Shipments M ft. b. m__ 17, 455 13, 648 14, 047 19, 710 Northern hardwood: Production M ft. b. m__ 47,411 44, 894 47, 186 51, 907 Shipments... M ft. b. m_. 23, 913 25,481 I 29, 117 34,459 Walnut lumber: Production _ . _ _ . M ft. b. m 4,650 4,056 4,336 i 3,078 i Shipments M ft. b. m.. 4,182 3,825 3,654 I 3,246 Stocks, end of month M ft. b. m__ 16, 709 17, 085 17, 476 7,751 : I Walnut logs: Purchased.. . . M ft. log measure 3,205 3,472 3, 679 2,108 i Made into lumber and veneer M ft. log measure.. 3,073 3,441 3,208 2,852 Stocks, end of month. _M ft. log measure.. 3,356 4,002 4,281 \ 3,060 ' i Revised. i i i +45.1 +6.7 +48.9 +11.4 +57.7 +63.5 +45.9 +2.8 +1.9 -8.6 -3.3 +48. 7 +57 0 -7.4 -6.1 +26.0 +70.4 +46. 2 j i +7.4 ! +41.3 -14.8 +155.9 +144. 1 +62.4 -2.9 +108. 1 +23.9 +37 4 1 +28.5 +60.7 +2 9 +51.3 +11.0 +9.9 +6.4 +11.6 +8.9 +1.3 +4.4 +2.4 +2.5 +8.1 +15.5 -0.9 +6.6 +0.3 +1.4 +2.7 —3. 6 +14.1 +11.1 +84.0 +70.3 +19.5 -13.1 0.0 137 143 143 +22.9 +2.0 +16.5 -17.6 -17.4 -22.1 62 241 187 123 277 176 +98.9 + 17.6 135 122 106 88 109 98 131 117 129 +49.2 -3.1 -4.1 -5.9 145 163 149 151 162 168 164 175 1920 1920 90 93 91 100 84 79 103 75 +8.4 -32.0 1920 1920 93 190 93 204 49, 433 45, 152 -7.2 -20.5 1913 1913 50 53 147, 008 98, 370 139, 491 78,511 -5.1 -20.2 1913 1913 8,341 9, 902 13, 042 11,661 +56.4 +17.8 6, 799 10, 356 7, 209 9, 722 0.0 +15.1 +38.4 -57 +1.1 +7.5 +1.5 +1.1 +10.3 +4.4 +16.0 +22.4 +13.3 97 115 113 ! +15.9 147 i +27. 6 +21.0 -27.8 48 54 37 37 44 +18.3 39 I +2.9 -7.4 -28.7 182 140 183 136 159 94 167 100 +5.1 ' -9.1 +6.6 -26.1 1922 1922 1922 150 185 77 170 168 76 224 198 167 240 190 171 ! +6.9 +40.9 -4.5 +12.6 +2.3 +125. 5 +52.3 1922 163 144 248 263 +6.0 +74.5 +34.9 1922 1922 168 181 215 147 242 192 259 205 +7.3 +20.7 +7.0 +39.9 -5.3 -25.1 -8.9 -39.1 37 TREND OF BUSINESS MOVEMENTS—Continued Per ct. increase (+) or deBASE crease YEAR CUMULATIVE TOTAL (-) OR FROM JANUARY 1 cumu- PERIOD THROUGH LATEST lative MONTH 1925 from 1924 1925 1924 In many cases April figures are now available and may be found in the special table on page 25 1925 March March, 1924 Per cent increase (+) or decrease (— ) RELATIVE NUMBERS NUMERICAL DATA 1924 1925 March Mar.. 1925, from Febru- from Mar., Feb. Mar. Feb. Mar. ary 1924 January February M ft. b. m M ft. b. m M ft. b. m__ 665, 144 214, 750 225, 734 689, 384 219, 501 227, 670 733, 351 228, 110 247, 669 +6.4 +3.9 +8.8 M ft b. m M ft. b. m M ft b m 529, 515 169, 712 180, 321 554, 280 176, 546 182, 678 598, 267 185, 891 200, 116 +7.9 +5.3 +9.5 M ft b m M ft. b. m M ft b m 159, 337 54, 927 50, 743 153, 689 49, 569 49, 851 150, 027 47, 836 51, 497 -2.4 -3.5 +3.3 BUILDING CONSTRUCTION AND HOUSING— Continued Lumber— Continued Hardwoods: f Total stocksTotal hardwoods Gum Oak Unsold stocksTotal hardwoods Gum Oak Unfilled ordersTotal hardwoods Gum Oak All lumber: Production, 10 species Exports, planks, joists, etc Retail yards, Minneapolis Fed. res. dist. — Sales . Stocks, end of month Composite lumber prices: Hardwoods f dolls, per Softwoods f dolls per M ft. b. m._ 12,462,094 12,407,740 2, 649, 174 2, 527, 790 136, 124 176, 935 153, 337 M ft. b. m._ 150, 950 7, 182, 797 531, 109 7, 519, 008 464, 009 +4.7 -12.6 1913 1909-13 110 89 115 86 110 76 121 99 +10.0 +30.0 +4.8 +15.4 11, 393 119, 777 i 7, 864 i 119, 690 20, 472 27, 715 +35.4 1920 1920 32 58 47 59 49 57 68 59 +39.0 +2.9 +44.9 +0.1 -1.0 -0.2 -1.5 -2.5 M ft. b. m M ft. b. m,_ 8,128 i 8, 194 111,707 i 116, 433 43.49 31.44 44.23 31. 68 43. 78 31. 63 44.46 32.44 34, 775 55, 813 35, 302 47, 976 42, 907 45, 037 37, 812 43, 231 124, 571 112, 984 -9.3 1920 1920 90 41 94 34 88 37 83, 488 24, 496 81, 304 23, 992 4 103, 666 57, 974 201, 405 164, 792 -18.2 1919 1919 65 28 55 21 51 12 78, 928 13, 327 81, 688 13, 548 * 4101, 165 14, 598 192, 088 28, 437 160, 616 26, 875 16.4 -5.5 1919 1922 68 107 64 105 55 99 41,768 34,812 33, 794 50, 925 53, 772 38, 245 34, 904 33, 539 52, 804 52, 626 41,611 40,564 35, 956 52, 623 46, 902 32, 659 30,547 26,021 40, 627 51, 283 91, 828 92, 068 96, 850 121,624 110, 280 103, 289 +32.4 +19.8 +6.6 1913 1913 1913 1913 1913 435 489 507 508 470 426 425 451 732 707 9,967 7,523 8,266 28, 214 12,755 8,438 7,604 7,142 28,481 12, 559 8,646 7,513 5,602 29,110 11,225 10,070 9,186 7,383 23, 008 17, 625 30, 047 25, 993 30, 772 27, 051 22, 640 21,010 -10.0 -12.9 -31.7 1919 1919 1919 1919 1919 97 73 61 147 51 56, 081 53, 539 232, 503 53, 654 65, 794 58, 619 212, 551 59, 122 77, 878 181,652 170,324 169, 633 173,115 -6.6 +1.6 192, 818 171,010 -11.3 68, 864 60, 334 60, 658 231,054 57, 440 67, 252 1919 1919 1919 1919 1919 22, 476 21,053 53, 506 15,096 35, 042 26, 151 27, 393 50, 672 17, 587 29, 295 22,489 22, Oil 44, 093 18,340 33, 229 53, 244 55,649 73,479 71,864 +38.0 +29.1 65, 636 49, 449 -24.7 13, 656 69,193 30,318 13, 977 19,444 65, 687 35,030 22, 159 21,066 62, 240 44, 872 24, 367 57, 716 51,010 -11.6 50,961 44, 789 -12.1 14.50 13.50 20.00 20, 841 62 5,613 117, 776 6,932 21 49, 692 27, 404 62 12,271 135,435 23, 188 712 64, 091 21,656 50 10, 989 117,451 33, 739 88 78, 347 60, 891 73, 511 +20.7 26, 922 22,082 -18.0 51,709 1,362 35, 871 773 -30.6 -43.2 3,606 3,031 1,085 9,104 3,708 3,270 1,162 9,358 4,014 3,813 1,357 9, 585 4,983 3,961 1,182 7,605 14, 384 11,098 3,465 .24 .40 i Revised. .24 .40 M ft b m "\-I ft b m 1 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, end of month 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, end of month M ft b in Unfilled orders, end of month. M ft. b. in__ 4 107 35 +21.5 +13.5 -6.1 +4.2 573 581 549 587 726 623 675 589 585 647 +8.8 +16.2 +7.2 -0.3 -10.9 +27.4 +32.8 +38.2 +29.5 -8.5 100 78 52 149 46 84 64 50 184 33 86 63 40 188 29 +2.5 -1.2 -21.6 +2.2 -10.6 -14.1 -18.2 -24.1 +26.5 -36.3 117 114 145 131 85 130 116 153 115 84 111 106 168 104 74 119 120 166 112 72 +7.6 +13.3 -0.6 +7.1 -2.3 -8.3 +3.5 +8.7 -2.8 -13.6 1919 1919 1919 1919 1919 123 130 99 167 81 160 157 106 136 81 160 150 128 112 86 186 195 121 131 71 +16.4 +16.3 +30.1 +24.5 -5.3 +14.9 -4.1 +16.5 -11.8 -16.4 1919 1919 1919 "1920 123 276 147 110 135 253 163 174 87 282 110 100 124 268 127 159 +42.4 -5.1 +15.5 +58.5 -7.7 +5.5 -21.9 ~9.1 305 305 221 206 -6.9 -32.5 Brick Clay fire brick (computed) : Production . thousands 53, 218 Shipments thousands 58, 918 Stocks, end of month thousands 229, 234 New orders thousands 59, 916 Unfilled orders, end of month. thousands.. 67, 931 Silica brick (computed): Production thousands 24, 852 Shipments _ thousands 23,418 Stocks, end of month thousands 52, 083 New orders .. . thousands 16, 766 Unfilled orders thousands 40, 999 Face brick (32 identical plants) : Production . thousands 17,910 Stocks at yards thousands 68, 566 Unfilled orders, end of month. thousands.. 23, 889 8,653 Shipments thousands Prices, common brick: 14.50 Wholesale, red, New York .dolls, per thous.. Paving brick: Production — Actual thousands 25, 266 62 Relation to capacitv per cent 4,198 Shipments thousands 111,666 Stocks end of month thousands 5,751 Orders received thousands 40 Cancellations thousands Unfilled orders, end of month .thousands. _ 51,572 1913 +26.5 +24.0 +11.7 +15.3 -31.3 +709. 1 +29.0 -18.2 +31.5 0.0 +118.6 +15.0 +234. 5 ( Floor and Wall Tile Production 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. Der sa. ft._ t See text on p. 29. .24 .24 .40 .40 * February, 1924. 11,328 10,114 3,604 +8.3 +16.6 +16.8 +2.4 -21.2 -8.9 +4.0 0.0 0.0 Ten months' average, March to December, inclusive. j| 9 -19.4 -3.7 +14.8 +26.1 1! < 0.0 0.0 38 TREND OF BUSINESS MOVEMENTS—Continued NUMERICAL DATA In many cases April figures are now available and may be found in the special table on page 25 1935 January February March March, 1924 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH LATEST MONTH 1924 1925 Per ct. increase (+) or decrease / \ cumulative 1925 from 1924 Per cent increase (+) or decrease (— ) RELATIVE NUMBERS BASE YEAR 1934 OR 1925 March ! Mjg- PERIOD Feb. Mar. Feb. Mar. 'SHK ary i 1924 ' BUILDING CONSTRUCTION AND HOUSING— Continued Architectural Terra Cotta Bookings: Quantity Value. 12, 637 1,389 10, 675 1,229 13, 683 1,543 12,022 1,317 41,489 ' 4,347 36,995 4,161 -10.8 -4.3 1919 1919 252 225 229 202 203 188 261 237 +28.2 +25.5 +13. 8 +17.2 Production.. _. thous. of bbls 8,916 Shipments thous. of bbls__ 5,108 Stocks, end of month.. thous. of bbls * 17, 656 Prices: Chicago district dolls, per bbl 1.74 Lehigh Valley _ .dolls, per bbl 1.75 Concrete paving contracts awarded: Total thous. of sq. yds.. 4,513 Roads thous. of sq. yds.. 3,474 8,255 6,015 i 19, 689 11,034 10, 279 120,444 10,370 8, 995 18, 189 27, 746 20, 138 28, 205 21,402 +1.7 +6.3 1913 1913 1913 112 : 80 i 150 135 122 162 108 81 175 144 139 182 +33.7 +70.9 +3.8 +6.4 +14.3 +12.4 1.75 1.75 1.75 1.75 1.75 1.75 1913 1913 173 1 197 173 197 173 197 173 197 0.0 0.0 0.0 0.0 5,047 3,787 8,502 5,772 8,009 5,798 16,584 11,832 18,062 13, 033 +8.9 +10.2 1919 1919 i 102 100 180 169 113 110 191 168 +68.5 +52.4 +6.2 -0.4 2,170 2,373 2,560 7,855 6,913 -12.0 1919 | 140 123 104 114 +9.4 7 O +15.2 1923 1923 ! net tons ... . thous. of dolls Portland Cement Roofing Prepared roofing: Shipments thous. of roof squares.. Roofing felt: Production, dry felt _ tons.. Stocks, end of month, dry felt . tons 2,370 20,076 3,503 15, 658 3,713 93, 938 105, 056 120, 358 93, 380 121, 490 99, 986 105, 905 122, 999 109, 365 116,717 63, 415 130, 375 number 123, 533 number. . 184,765 number. . 145, 279 123,085 203, 625 123, 224 121,936 225, 497 124, 281 149, 302 118,781 144, 384 number.. 127, 289 number-- 252, 258 number. . 146, 696 121,519 276, 333 120, 544 125, 667 306, 220 116,985 157, 799 100, 410 162, 184 number 72, 316 number-- 174, 290 number . . 70, 132 65, 032 188, 348 50, 284 71, 203 191, 104 54, 075 88,371 77, 359 81,839 number 108, 572 number. . 295, 400 115, 236 299, 254 114, 759 280, 734 245, 921 822, 176 18,652 ! 3,813 16, 267 1,860 47,192 54,386 101 67 101 77 97 153 116 +19.1 +14.7 157 i +2.7 +105.0 1919 1919 1919 285 143 211 337 150 187 270 288 143 306 +13.4 292 +1.2 157 1 +9.4 -9.3 +94.0 -16.1 1919 1919 1919 288 79 216 326 85 196 269 146 167 266 1 -0.9 161 +10.7 169 +0.9 -18.3 +89.8 -13.9 1919 1919 1919 252 78 187 289 80 184 223 220 137 230 +3.4 -20.4 243 1 +10.8 +205. 0 133 -3. 0 -27.9 1919 1919 1919 266 75 251 311 97 195 229 236 120 251 ! +9.5 -19.4 239 t +1.5 +147.0 129 +7.5 -33.9 1921 5 1921 576 612 603 636 282 232 281 217 -0.4 -6.2 -53.3 -65.9 Sanitary Ware Baths, enamel: Orders shipped Stocks, end of month Orders received _ . Lavatories, enamel: Orders shipped Stocks, end of month Orders received _ Sinks, enamel: Orders shipped Stocks, end of month Orders received Miscellaneous, enamel: Orders shipped Stocks, end of month Orders received Unfilled orders, end of month: Baths Small ware number number-number 310, 847 293, 223 -5.7 392, 089 329, 709 -15.9 411,211 368,554 — 10.4 440, 164 392, 784 -10.8 432, 946 374, 475 -13.5 486, 602 384, 225 -21.0 238, 392 208, 951 -12.4 274, 432 174, 491 -36.4 10 1( CHEMICALS AND OILS Imports: Potash _ _ . _ long tons 23, 240 28, 173 27, 062 22, 618 Nitrate of soda long tons 95, 109 197, 359 89, 858 115,919 Exports: Sulphuric acid_._ _ thous. of lbs_. 940 1,017 713 603 Total fertilizer _. long tons 78, 058 94, 450 65, 989 73, 093 Dyes and dyestuffs— Vegetable lbs._ 201, 175 216, 247 430, 830 199, 300 Coal tar . Ibs 2, 006, 681 2, 067, 046 1, 990, 398 1, 244, 264 Price index numbers: Crude drugs . index number . . Essential oils . . . index numberDrugs and Pharmaceuticals index number _. i | Chemicals ..index number. _ i Oils and fats index number. . ___ 1 Price, sulphuric acid 66° N.Y. .index number .. I Wood Chemicals Acetate of lime: Production thous. of Ibs.. 11,590 10, 414 11, 270 14, 107 Shipments or use thous. of Ibs.. 10, 048 9,611 j 10,710 9,028 Stocks, end of month thous. of lbs_. 15, 367 16, 230 17, 145 32, 370 Exports thous of Ibs 999 1,995 1,098 1,622 Price dolls, per cwt._ 3.000 3. 000 3.000 3.875 Methanol: Production gallons-- 573, 333 542, 397 587, 856 741, 505 Shipments or use gallons- . 586, 331 521, 854 511,604 617, 949 Stocks, end of month gallons-- 1, 305, 058 1, 365, 830 1, 689, 771 2, 749, 818 Exports gallons-- 56, 760 39, 625 63, 343 26, 231 .68 Price-dolls, per gall-.68 .68 .88 Grain alcohol: f Production ...thous. of galls .. 16,323 13, 120 12, 592 10,054 Withdrawn for denaturation . _ thous. of galls .. 13,690 9,722 7,455 9,682 Warehouse stocks, end of month thous. of galls.5,010 4,037 1,932 4,833 Wood at chemical plants: Consumption (carbonized) cords - - 62, 614 72, 404 55, 351 78, 661 Stocks, end of month cords._ 478. 422 484, 491 497, 605 815, 824 t See text on p. 29. i Revised. 73,425 424, 797 78, 475 382, 326 +6.9 -10.0 1909-13 1909-13 118 346 107 268 133 220 128 ! -3.9 457 +107.5 +19.6 +70.3 2,022 245, 235 2,670 238, 497 +32.0 -2.7 1909-13 1909-13 ! 138 84 98 71 153 75 116 91 -24.1 +21.0 +18.2 +29.2 823, 959 4, 416, 385 848, 252 6, 064, 125 +2.9 +37.3 +99.2 + 116.2 +60.0 1914 1914 180 137 180 139 219 159 204 158 -6.8 -0.6 +13.3 +13.7 1914 1914 1914 1913 153 121 132 73 155 116 128 70 155 114 148 70 156 113 161 70 +0.6 -0.9 +8.8 0.0 +0.6 -2.6 +25.8 0.0 126 62 77 49 177 135 66 90 71 172 100 70 45 43 133 108 78 48 48 133 +8.2 +11.4 +5.6 +9.9 0.0 -20.1 +18.6 -17.0 -32.3 -22.6 122 107 95 114 54 132 97 100 25 54 96 82 50 37 41 104 80 61 60 41 +8.4 -20.7 -2.0 -17.2 +23.7 -38.5 +59.9 +141.5 0.0 -22.7 40, 700 26, 598 33, 273 30, 369 -18.2 +14.2 3,067 4,092 +33.4 2, 137, 655 1,941,818 1, 703, 586 1, 619, 789 -20.3 -16.6 220, 488 159, 728 -27.6 35, 174 42, 035 +19.5 -4.0 +25.2 28, 453 33, 144 +16.5 -0.4 +29.9 +24.1 +3.7 231, 094 190, 369 -17.6 +30.8 +2.7 -8.0 -39.0 10 1922 1922 1922 1922 1922 1922 1922 1922 1922 1922 1 114 122 i 86 52 84 87 Eight months' average, May to December. 1922 1922 113 53 39 TREND OF BUSINESS MOVEMENTS—Continued Per ct. increase NUMERICAL DATA or decrease ' In many cases April figures are now available and may be found in the special table on page 25 1925 January February March March, 1924 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH LATEST MONTH 1924 1925 cumulative 1925 i from | 1924 | Per cent increase (+) or decrease (— ) RELATIVE NUMBERS BASE YEAR OR PERIOD 1925 1924 March Mar., 1925, from from Febru- Mar., Feb. Mar. Feb. Mar , ary 1924 CHEMICALS AND OILS— Continued Explosives (Black powder, permissibles, and other high explosives) Production _ thous. oflbs . Shipments ..thous. of Ibs.. Sales thous. of lbs_. Stocks thous. of Ibs 33, 479 35, 296 34, 541 16, 480 36, 527 34, 074 31, 675 18, 976 34, 211 33, 354 31, 269 20, 358 34, 355 33, 408 32, 368 16, 697 101,671 102, 783 98, 375 104, 217 102, 724 97, 485 ..barrels-barrels.. 8,391 49, 556 6,167 37, 606 5,907 22, 831 5,540 23,487 21, 406 20, 465 barrels- barrels 51, 279 222, 857 49, 322 199, 896 50, 137 171, 197 30, 578 226, 775 143, 159 Fats and Oils Total vegetable oils: Exports. thous. of Ibs.. Imports thous. of lbs._ Oleomargarine: Production ..thous. of Ibs.. Consumption thous. of lbs._ 9,454 59, 445 4,880 52,617 5,392 79, 213 4,536 103, 431 19, 177 19, 109 17, 288 15,846 19,729 20, 125 599, 626 324, 782 126, 745 157, 905 .107 89, 168 116, 384 .111 750 109 Naval Stores Turpentine (3 principal ports) : Net receipts Stocks, end of month Rosin (3 principal ports): Net receipts Stocks, end of month Cottonseed 898,671 Cottonseed stocks, end of month tons Cottonseed oil: 120,997 Stocks, end of month thous. of Ibs Production ..thous. of lbs._ 210, 409 .112 Price, New York dolls, per Ib Flaxseed Receipts: 1,253 Minneapolis _. __ thous. of bushs 228 Duluth thous of bushs Shipments: 173 Minneapolis thous. of bushs 324 Duluth__ thous. of bushs.. Stocks, end of month: 434 Minneapolis _ _ thous. of bushs 888 Duluth thous. of bushs Linseed oil: Shipments from Minneapolis thous. of lbs_. 14, 720 Linseed-oil cake: Shipments from Minneapolis. _ thous. of Ibs.. 31, 226 +2.5 ' -0.1 i -0.9 1922 1922 1922 1922 114 114 112 102 112 107 112 102 119 110 110 116 111 107 108 125 -6.3 -2,1 -1.3 +7.3 -0.4 -0.2 -3.4 +21.9 -4.4 1919 1919 33 110 36 76 40 121 39 73 -4.2 -39.3 +6.6 -2.8 150, 738 +5.3 1919 1919 90 130 98 113 88 100 90 85 +1.7 -14.4 +64.0 -24.5 13, 098 289, 831 19, 726 191, 275 +50.6 -34.0 1913 1913 13 499 16 484 17 246 19 270 +10.5 +50.5 +18.9 -23.4 70, 081 70, 802 56, 194 55, 080 -19.8 -22.2 1913 1913 190 199 185 197 143 134 163 170 +14.1 +27.0 -12.0 -13.8 233, 462 1919 75 46 117 63 -45.8 +39.1 109, 436 68, 315 .098 290, 149 484, 698 +67.1 1919 1919 1913 133 92 139 114 62 135 132 143 148 93 105 154 -29.6 -26.3 +3.7 -18.5 +70.4 +13.3 683 97 233 112 871 373 683 434 -21.6 +16.4 1913 1913 25 10 25 11 80 11 72 9 142 283 163 228 168 143 439 560 478 835 +8.9 +49.1 1913 1913 86 20 108 13 91 26 104 21 +14.8 -19.4 400 636 367 400 156 165 1913 1913 121 6 70 6 172 23 158 15 -8.2 +135. 3 -37.1 + 142.4 14, 468 14, 810 12, 212 37, 177 43, 998 +18.3 1913 74 80 95 97 +2.4 +21.3 29, 847 20, 933 16, 031 56, 515 82, 006 +45.1 1913 62 53 99 69 -29. 9 +30.6 22, 419 i 23, 345 -8.9 +193. 1 -13.4 -11.0 -3.0 +59.4 Vegetable and Animal Oils (Reported quarterly) Crude vegetable oils: 802, 192 566, 638 Production, _ _ thous. oflbs 7 958, 596 98 166 139 -16.3 i 1919 133 +10.9 813, 083 603, 908 Consumption thous. of Ibs 7 851, 256 -4.5 +34.6 1919 103 95 134 128 314, 984 397, 415 78 +16.0 +26.2 Stocks thous of Ibs 7 342, 649 62 68 1919 73 Refined vegetable oils: 521, 918 353, 633 Production thous. of Ibs 7 587, 960 1919 90 76 126 112 -11.2 +47.6 316, 466 218, 989 Consumption.. thous. of Ibs 7 321, 729 89 74 90 -1.6 +44.5 61 1919 401, 039 251, 622 Stocks thous. oflbs 7 255, 214 1919 90 141 +57.1 +57.4 89 65 Cottonseed oil— Crude: 484, 063 Production thous. of Ibs 7 650, 497 289, 928 81 182 135 -25.6 +67.0 1919 140 495, 447 94 173 151 -12.8 +61.0 1919 307, 742 Consumption thous. of Ibs 7 568, 248 118 89, 168 Stocks thous. oflbs 7 105, 520 110,115 1919 95. 80 -15.5 -19.0 99 127 Peanut oil— Crude and virgin: 7 3, 744 5,265 1,122 24 +40.6 +369. 3 Production thous. of Ibs 17 5 1919 6 7 2, 660 3,457 7 +30.0 +101. 2 1,718 Consumption thous. of Ibs 3 1919 5 3 71,418 1,531 Stocks thous oflbs +8.0 +40.1 6 1,093 5 1919 5 6 Coconut or copra oil — Crude: 7 53, 954 92 52, 684 49, 531 Production thous. oflbs -8.2 98 100 1919 122 -6.0 95, 375 90 105, 719 Consumption thous. oflbs 7 101, 307 1919 100 100 -9.9 -5.9 95 7 51, 566 61, 139 Stocks. _ thous. oflbs 39 +18.6 +19.3 51, 265 1919 32 33 33 Corn oil— Crude: 25, 939 Production.. thous. of lbs_. 7 27, 580 114 135 113 107 32, 986 -21.4 -5.9 1919 7 25, 912 30, 512 31, 704 Consumption. , thous. of Ibs -3.8 1919 117 141 116 136 +17.8 7 7, 935 4,392 55 -44.7 -41.7 7,535 Stocks . thous. of Ibs 94 1919 99 88 Linseed oil: 225, 568 +6.4 +27.0 177, 583 Production thous. oflbs 7 211, 954 1919 146 157 187 199 109, 898 Consumption thous. of Ibs . 7 92, 814 184 207 196 232 +18.4 +12.3 97, 846 1919 151, 136 87, 764 Stocks thous. of Ibs 7 107, 019 1919 149 134 164 231 +41.2 +72.2 Fish oil: 7 22, 842 16, 562 5,314 1919 234 Production thous. oflbs 65 278 201 -27.5 +211. 7 41, 898 1919 343 356 34, 893 Consumption thous. oflbs 428 +20.1 37, 874 Stocks _ _ thous. of lbs_. 85 41, 694 93 102 1919 Animal fats: 593, 616 Production thous, of Ibs 7 573, 169 715, 222 +3.6 1919 -9.2 171 195 156 162 155, 852 Consumption . thous. oflbs 7 154, 244 +1.0 149, 645 1919 107 104 107 108 +4.1 183, 031 Stocks .thous. oflbs . 7 125, 841 78 133 +45.4 +15.8 157, 995 89 114 1919 Greases: Production __ thous. of lbs_. 7 96, 563 103, 162 98, 770 +2.3 -4.3 1919 146 148 139 142 7 60, 086 57, 342 74, 612 Consumption thous, oflbs -4.6 -23.1 1919 135 145 117 111 7 42, 060 84 Stocks .. . .. thous. oflbs 56 — 10 8 -24.4 62 74 37, 499 49, 609 1919 Derivatives: Production „_ . __ thous. oflbs 7 658, 573 675, 613 550, 181 +2.6 +22.8 1919 207 208 249 255 337, 150 Consumption thous. oflbs _ 7 290, 111 128 139 139 161 +16.2 +16.1 290, 430 1919 74 139, 230 Stocks .thous. of lbs_, 7 127, 598 +9.1 76 139, 606 -0.3 69 75 1919 Quarter ending Dec. 31,1924. Relatives indicated for February and percentage comparisons with that month refer to quarter ending the previous December. 40 TREND OF BUSINESS MOVEMENTS—Continued NUMERICAL DATA In many cases April figures are now available and may be found in the special table on page 25 1925 January February March, 1924 March CUMULATIVE TOTAL FROM JANUARY 1 THROUGH LATEST MONTH 1924 1925 1 Per ct. RELATIVE increase NUMBERS <+> or deBASE crease YEAR (-) 1925 1924 OR cumu- PERIOD lative 1925 from Feb. Mar. Feb. TV/for 1924 Per cent increase (+) or decrease (— ) March Mar., 1925, from from Febru- Mar., ary 1924, CHEMICALS AND OILS— Continued Oil Seeds and Nuts (Reported quarterly) Peanuts, hulled: Consumption Stocks Copra: Consumption S tocks _ _ Corn germs: Stocks Flaxseed: Consumption Stocks 7 5 238 71,102 7,424 1,269 1,348 245 1919 1919 8 4 2 15 10 21 11 +41.7 -450. 7 +15.2 +418. 0 7 41 960 short tons shor t tons . . 7 5, 399 37,947 i 7,566 39, 800 9,071 1919 1919 123 42 94 41 100 24 90 34 -9.6 +40.1 4.7 -16.6 short tons 7 55, 682 7329 47,995 ! 470 55, 189 435 1919 1919 137 33 151 52 152 39 131 56 -13.8 +43.0 -13.0 +8.0 short tons short tons 7 322 840 7 270, 449 268, 091 53, 916 1919 1919 145 493 155 181 187 906 199 377 +6.7 +28.5 -58.4 + 108. 5 short tons short tons 344, 493 112,410 FOODSTUFFS I Wheat Exports, including flour thous. of bushs.. Visible supply: United States thous of bushs Canada, thous of bushs Receipts, principal markets. .thous. of bushs .. Shipments, prin. markets . -.thous. of bushs .. Prices: No. 1, northern, Chicago.-dolls. per bush.. No. 2, red winter, Chicago-dolls, per bush.. 1 12, 928 11,612 16, 202 9,374 81, 796 79, 341 24, 734 19, 864 74, 167 76, 187 19, 923 16, 168 63, 327 75, 048 17, 260 18, 367 66, 739 121, 648 17, 997 12, 020 1,909 2,006 1,841 1,984 1,689 1, 767 i 31, 594 53, 675 33, 836 +29.0 1913 84 79 98 136 +39.5 +72.8 61,917 i +15.4 54,399 | +60.8 1913 1913 1919 1919 122 387 63 53 112 372 57 60 124 233 54 81 106 230 53 92 -14.6 -1.5 -13.4 +13.6 -5.1 -38.3 -4.1 +52.8 1913 1913 129 114 128 110 202 201 185 179 -8.3 -10.9 +45.0 +62.4 -11.9 -11.8 -11.8 -17.0 -14.4 -13.0 -18. 2 -10.2 96 ! -8.7 103 ! -14.6 -6.6 68 -12.0 -12.6 -5.9 40, 742 1, 165 1,088 Wheat Flour (Bureau of the Census) Wheat ground thous of bushs Production wheat flour thous of bbls Production, grain offal thous of Ibs Per cent of capacity operated per cent 45, 010 i 37, 720 9,853 i 8, 248 i 762, 489 i 648, 197 53 53 33, 214 7,272 571, 487 44 38, 809 8,355 698,911 49 119,823 25, 758 2, 150, 353 115,944 25, 373 1, 982, 173 -3.2 -1.5 -7.8 31, 864 27, 582 31, 201 28, 187 -2.1 +2.2 (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 11,705 10, 017 7,400 10, 189 9,800 6,850 9,307 8,370 i 6,400 10, 578 9, 572 6,800 9.694 9.850 9. 035 1 6.300 8.805 8.669 7.969 5.330 106 107 76 109 117 72 105 120 73 1913 138 i» 215 197 -8.3 +43.4 1913 139 139 | 225 207 -8.1 +49.5 1913 1913 1919 1919 1913 84 185 290 240 170 95 245 202 196 187 17 308 142 139 148 21 329 166 155 135 +27.3 +6.8 +17.1 +11.6 -8.5 -77.8 +33.9 -17.9 -21.1 -27.6 1913 128 127 199 186 -6.2 +46.4 1913 1913 1913 91 102 16 81 96 11 68 416 28 62 367 33 -8.9 -23.3 11 7 +282. 2 +19.3 +211.5 1913 131 128 152 131 -13.7 +2.3 1913 1913 37 42 33 66 46 60 37 59 -20.2 -1.9 +12.2 -10.8 1913 118 120 159 147 -7.4 +22.4 5,790 +6.8 4,560 1+187.2 1913 1913 1913 150 259 113 130 235 108 64 -70.5 -50.3 218 609 1,554 +155. 1 +559. 7 248 213 -14.3 +97.5 +14.2 -3.6 1913 1919 73 117 73 127 72 105 103 111 +42.7 -5.4 -41.9 -12.4 1913 1913 1913 357 17 714 415 40 879 358 57 412 428 57 440 +20.0 0.0 +6.7 +3.5 +42.9 -50.0 i j Corn 4,028 27, 284 30, 345 17, 361 7,835 10, 676 896 28, 812 37, 038 14, 290 6,751 704 34, 199 21, 274 12, 270 6,199 896 36, 526 24,916 ! 13, 692 5,672 1.271 1.242 1. 165 .796 23, 474 73, 570 984 14, 110 72, 386 843 12, 856 63, 886 1,006 16,771 16, 715 323 .596 .570 .492 .481 4,940 1,522 4,210 881 3, 359 864 2,993 969 .973 .996 .922 .753 2,134 1,208 1. 585 2,823 944 1.579 833 2,408 1.353 1,677 365 .685 5,422 1, 588 Total grain exports, incl.flour.thous.of bushs_ . 17, 538 Car loadings of grain and grain products,. cars. . 197, 182 14, 984 178, 416 21,376 188, 059 15, 059 214, 699 47, 186 584, 827 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 1919 1919 1919 104, 387 58, 222 21, 745 2,496 -76.6 83,228 ! -20.3 40, 252 -30. 9 18,622 -14.4 Other Grains Oats: Receipts, principal markets thous of bushs Visible supply thous of bushs Exports, including meal. -thous. of bushs.. Prices, contract grades, Chicago dolls, per bush Barley: Receipts, principal markets _ thous. of bushs Exports thous of bushs Price, fair to good, malting, Chicago dolls, per bush.. Rye: Receipts, principal mark ets thous. of bushs Expor *s, including flour, .thous. of bushs.. Price, No. 2, Chicago dolls, per bush.. 51, 757 50, 440 25 1,447 2,833 +95.8 9,290 1, 881 12, 509 3,267 +34.7 +73.7 Total Grains 53, 898 563, 657 Argentine Grains Visible supply, end of month: Wheat thous. of bushs. 7,400 Corn thous. of bushs 3,200 2.800 Flaxseed _. thous. of bushs.. 1 Revised. 9,255 2,000 3.000 11,110 i 2,000 3.200 10, 730 1,400 6.400 ? Quarter ending Dec. 31,1924. 41 TREND OF BUSINESS MOVEMENTS—Continued Per ct. increase (+ ? or deBASE crease YEAR CUMULATIVE TOTAL (-) OR FROM JANUARY 1 cumu- PERIOD THROUGH LATEST lative March, i MONTH 1925 1924 i from 1924 1925 1924 In many cases April figures are now available and may be found in the special table on page 25 I 1925 January February March Per cent increase (+) or decrease (— ) RELATIVE NUMBERS NUMERICAL DATA 1925 1924 March Mf iy from f rj,' Febru- $>£ Mar. Mar. Feb. Feb. ary ^24 FOODSTUFFS-Continued Rice Southern paddy, receipts at mills Shipments: Total from mills pockets New Orleans pockets Stocks, end of month: Mills and dealers pockets Imports . . - _ _ .pockets Exports pockets bbls_. 448, 306 197, 214 43, 129 369, 704 2, 025, 306 688, 649 -66.0 1919 95 61 29 6 -78.1 -88.3 (100 Ibs.) (100 Ibs.) .. 981, 194 219, 817 543, 246 128, 858 496, 485 118, 163 818,902 177,670 2, 850, 323 609, 606 2, 020, 925 458, 838 -29.1 -24.7 1919 1919 151 80 134 70 89 48 81 46 -8.6 -8.3 -39.4 -33.5 (100 Ibs ) 1, 867, 227 1, 559, 679 1, 059, 649 1, 181, 972 58,695 98, 554 41, 497 78, 493 (100 Ibs.) _. 180, 682 11,411 7,908 10, 898 (100 Ibs.) 135, 439 661, 946 218, 544 30, 217 +61.4 -95.4 1919 1919 1919 207 23 56 146 43 58 192 58 4 131 72 3 -32.1 -10.3 +25.6 +67.9 -30.7 -95.6 Other Crops Apples: Cold-storage holdings 5,233 (end of month) thous. of bbls.. 4,980 Car-lot shipments carloads.. Potatoes, car-lot shipments _ .carloads. . 21, 159 2,713 Onions, car-lot shipments carloads _ 12, 036 Citrus fruits, car-lot shipments carloads.. 101, 595 Hay, receipts tons 2,272 3,244 20, 862 1,533 11,309 74, 305 i 3, 871 6,162 22, 091 1,898 12, 251 80, 255 22, 118 60, 936 6,401 33, 679 284, 585 12, 026 61, 907 6,230 33, 747 245, 769 -45.6 +1.6 -2.7 +0.2 -13.6 1919 1919 1919 1919 1919 1919 307 118 132 120 217 86 200 91 147 109 227 67 194 56 133 114 193 58 117 48 139 88 210 62 39.6 -14.7 +4.9 -22.7 +8.7 +6.3 -41.3 -47.4 -5.6 -19.2 -7.7 -7.4 1,860 645 241 1,179 1,556 549 175 991 4,901 1,805 588 3,061 5,259 1,908 624 3,296 +7.3 +5.7 +6.1 +7.7 1919 1919 1919 1919 71 60 39 80 76 61 40 87 74 62 40 85 91 72 55 103 +21.6 +16.2 +36.9 +21.9 +19.5 +17.5 +37.7 +19.0 425, 740 421, 760 18, 476 378, 549 371, 740 12, 290 1, 207, 657 1, 188, 390 34, 488 1, 252, 518 1, 242, 740 36, 540 +3.7 +4.6 +5.9 1913 1913 1913 114 88 86 115 88 95 105 89 64 129 +23.0 104 +21.4 136 +113.5 +12.5 +13.5 +50.3 116,318 i 93, 274 1919 42 39 55 49 10. 200 .183 .148 10. 065 .170 .150 1913 1913 1913 114 131 111 118 111 131 I 141 115 103 120 141 113 +7.7 0.0 +9.6 +1.3 +7.6 -1.3 4,558 1,580 35 3,010 3,528 1,239 92 2,285 14,833 1,854 52 2,976 16, 471 6,178 149 10, 219 14, 191 4,995 1.65 9,205 -13.8 -19.1 +10.7 -9.9 1919 1919 1919 1919 143 178 63 127 129 ! 122 155 132 61 47 117 119 94 -22.6 104 -21.6 123 +162. 9 90 -24.1 -27.0 -33.2 +76.9 -23.2 950, 738 726, 051 612, 981 i 631, 583 144, 221 114, 706 547, 772 386, 152 123, 281 765, 700 515, 641 175, 420 2, 586, 540 1, 724, 768 590, 771 2, 224, 561 1, 634, 716 382, 208 -14.0 -5.2 -35.3 1919 1919 1913 177 145 232 160 134 214 152 165 140 115 100 150 -24.6 -39.2 +7.5 -28.5 -25.1 -29.7 778, 792 977, 497 1, 018, 130 593, 599 333, 394 470, 902 202, 084 20.7 -39.4 i 3, 761 3,802 19, 886 1,984 10, 402 69, 869 Cattle and Calves Cattle movement, primary markets: 1,869 1,530 Receipts. _ thousands.. 708 555 Shipments, total thousands 207 176 Shipments, stocker and feeder-thousands. _ 1,150 967 Local slaughter thousands.. Beef products: Inspected slaughter product.thous. of lbs._ 480, 692 346, 086 Apparent consumption thous. of Ibs. . 473, 652 i 347, 328 8,652 9,412 Exports thous. of lbs._ Cold-storage holdings 140, 705 i 130, 809 (end of month) thous of Ibs Prices, Chicago: 9.313 9.469 Cattle corn-fed dolls per 100 Ibs .183 .183 Beef fresh native steers dolls per Ib .133 .135 Beef steer rounds No 2 dolls per Ib -11.1 +24.7 Hogs and Pork Hog movements, primary markets: Receipts thousands Shipments, total __ __ thousands Shipments, stocker and feeder, thousands. . Local slaughter thousands.. Pork products, total: Inspected slaughter product -thous. of lbs_. Apparent consumption thous. of Ibs.. Exports _ thous. of Ibs Cold-storage holdings (end of month) thous of Ibs Lard (included in pork products) : Production thous. of lbs_. Exports .'thous. of lbs__ Cold-storage holdings (end of month) thous of Ibs Prices: Hogs, heavy, Chicago... dolls, per 1001bs_. Hams smoked Chicago dolls per Ib Lard, prime contract, N. Y._ dolls, per lb._ 6,105 2,176 38 3,910 865, 355 1919 103 110 95 106 +13.0 -4.0 1919 1919 214 158 202 159 184 95 131 100 -28.9 +4.8 -25.2 -37.2 i 85, 722 1919 74 93 165 163 7.345 .189 .116 1913 1913 1913 85 111 106 88 114 105 133 139 146 161 162 155 +20.9 +16.5 +6.2 +83.5 +42.3 +47.4 -2.6 -4.1 +4.1 -1.3 1919 1919 1919 1919 62 57 18 69 60 54 14 68 61 56 21 67 66 55 16 79 +8.4 -0.7 -20.2 +17.6 +10.0 +2.4 +14.5 +16.3 +1.7 +1.6 1913 1919 79 93 76 90 77 89 89 104 +16.1 +16.4 +17.1 +15.7 28 115, 016 63, 281 177, 602 100, 726 112, 704 i 151, 927 i 150, 182 11. 150 .231 .161 13. 480 .269 .171 1,388 675 119 711 1,504 670 95 836 1,367 654 83 719 4,476 2,120 338 2,364 4,359 2,033 352 2,333 34, 945 34, 955 40, 572 40, 671 34, 642 35, 139 113, 302 114, 032 115, 172 115, 896 i 2, 294 i 2, 090 i 1, 719 1919 26 21 9.975 15. 775 1913 1913 180 187 213 202 1919 139 85 1919 144 117 1919 1919 96 65 101 48 105 69 194, 189 i 161, 697 78, 440 60, 363 10. 800 .219 .166 -1.1 +75.2 Sheep and Lambs Sheep movement, primary markets: 1,467 Receipts _. thousands 688 Shipments, total thousands 138 Shipments, stocker and feeder .thousands. . 786 Local slaughter thousands Lamb and mutton: 39, 655 Inspected slaughter product.thous. of Ibs.. 440, 270 Apparent consumption. thous. of Ibs Cold-storage holdings (end 2,336 of month) thous of Ibs Prices: 8.688 Sheep ewes Chicago dolls per 100 Ibs Sheep, lambs, Chicago.-dolls. per 100 Ibs.. 17. 625 8.438 17. 313 9.175 16. 050 21, 256 25 -8.9 +21.6 180 196 222 ! 206 +8.7 -7.3 -8.0 +1.7 107 75 -30.0 -12.0 201 168 -16.8 +42.8 137 48 +30.4 -30.9 -45.2 +35.0 +0.2 -30.9 Poultry Receipts at 5 markets Cold-storage holdings (end of month) thous of Ibs thous of Ibs 14, 870 16, 893 138, 189 i 130,513 i 108, 608 i 76, 067 23, 708 29,633 303, 520 17, 555 29, 571 294, 706 30, 460 66, 586 82, 255 -19.0 " Fish Total catch, prin. fishing ports, .thous. of lbs._ Cold-storage holdings 15th of mo thous of Ibs Canned salmon. shiDments cases.. 1 Revised. 11, 028 55, 308 394. 433 18, 181 i 42, 878 371, 422 44, 586 52, 917 +18.7 1,011,125 969, 375 -4.1 42 TREND OF BUSINESS MOVEMENTS—Continued 1 Per ct. Per cent RELATIVE increase increase (+) NUMBERS (+) or decrease (— ) or deBASE crease YEAR CUMULATIVE TOTAL (-) 1925 OR mi FROM JANUARY 1 cumuMarch Mar., 1925, THROUGH LATEST lative PERIOD from from MONTH 1925 Febru- Mar., from Feb. Mar. Feb. Mar. ary 1924 1924 1924 1925 NUMERICAL DATA In many cases April figures are now available and may be found in the special table en page 25 1925 March, 1924 January Fe bruary March FOODSTUFFS— Continued Dairy Products Butter: Receipts, 5 markets _thous. of lbs_. C old-storage holdings, creamery (end of month) thous. of lbs_. Wholesale price, 5 markets.. dolls, per lb_. Cheese: Receipts, 5 markets thous. of Ibs Cold-storage holdings, American (end of month) thous of Ibs Wholesale price, 5 markets. .dolls, per lb__ Eggs: Receipts, 5 markets thous. of Ibs . Cold-storage holdings (case) thous of Ibs 46, 569 42, 513 48,925 45, 748 .414 i 28, 789 .412 i 10, 875 .467 40, 741 ! 138, 007 131, 616 15, 378 12, 845 14, 464 12, 810 41, 553 .228 i 34, 647 .229 i 27, 716 .226 i 28, 294 .210 634 81 1,163 i 21 1,824 i 1, 240 1 42, 687 43, 452 1, 196 i 1579 Sugar Raw: Imports long tons Meltings, 8 ports . . long tons Stocks at refineries (end of month) long tons Refined, exports _ long tons Cane, domestic: Receipts at New Orleans long tons Prices: Wholesale, 96° centrifugal, N. Y dolls per Ib Wholesale refined N Y dolls per Ib Retail, average 51 cities index number Cuban movement: Receipts at Cuban ports long tons Exports long tons Stocks end of month long tons Coffee Imports Visible supply: W^orld United States Receipts, total, Brazil Clearances: Total, Brazil for world Total, Brazil, for U. S -1.8 3,627 2, 908 +24.5 1919 105 89 93 107 + 15.1 +20.1 1913 1919 17 84 14 78 51 70 19 79 -62.2 +13.3 +38.7 +1.1 1919 100 79 79 89 + 12.6 +12.9 1919 1919 94 71 76 68 92 74 74 73 -20.9 -1.3 -2.0 +7.6 98 154 1 36 +56. 8 +52.5 + 114.2 1919 1916-20 ; 87 101 1 16 ! Milk Stocks, manufacturers' (end of month): 91, 205 Total thous of Ibs Condensed12, 208 Case goods thous of Ibs 7,066 Bulk goods thous. of Ibs.. 71, 857 Evaporated, case goods thous. of lbs_. Unsold stocks, manufacturers' (end of month) : 35, 318 Total thous. of lbs~ Condensed— 2,209 Case goods thous. of Ibs.. 3,113 Bulk goods thous of Ibs 29, 929 Evaporated, case goods thous. of Ibs.. Exports: 4,701 Condensed thous. of Ibs.. 5,952 Evaporated. thous. of lbs_. 335 Powdered thous. of lbs_. Fluid milk: Receipts14, 528 Boston (includ. cream) .thous. of qts._ 2,413 Greater New York thous. of cans.. 22, 488 Production, Minneapolis thous. of lbs_. Consumption and distribution by milk plants (Dairymen's League, N. Y.): Total milk consumed or sold.thous. of Ibs.. 153, 465 Fluidmilk sold thous. of lbs._ 101, 580 Milk consumed for manufacture of— Soft cheese, ice cream, and 28, 469 condensed milk thous. of lbs__ Milk chocolate and milk powder thous. of Ibs. . 15, 865 6,899 Butter thous. of Ibs 652 American cheese thous. of lbs_. +4.9 i 7, 842 .462 * 90, 869 U 109, 306 138, 362 1920 69 61 40 48 +20.3 -21.0 i 12,321 i 5, 956 i 72, 460 11 13, 554 11 5, 398 11 90, 196 13, 480 13, 376 111, 353 1920 1920 1920 20 100 83 25 74 73 23 33 48 25 30 59 +10.0 -9.4 +24.5 +0.5 -59.6 -19.0 i 47, 335 U 68, 461 86, 427 1920 93 76 42 60 +44.6 -20.8 i 2, 628 i 2, 407 i 42, 187 U 1, 702 11 2, 418 11 64, 209 4, 855 6,979 74, 450 1920 1920 1920 24 119 114 18 67 98 10 23 55 6 23 84 -35.2 +0.5 +52. 2 -64.9 -65.4 -13.8 2,961 6,700 386 2,674 6, 417 ! 295 | 5,116 i 7,396 223 18, 298 48, 864 742 10, 336 19, 069 1,016 -43.5 -61.0 +36.9 1922 1922 1922 108 146 59 108 68 43 108 62 75 63 59 57 —9.7 -4.2 -23.6 -47.7 -13.2 +32.3 14, 149 2,281 21, 765 2,603 24, 879 < 14, 031 ! 2,470 23, 735 28, 715 7,069 67, 081 28, 677 7,297 69, 132 -0.1 +3.2 +3.1 1919 1913 1919 107 150 304 121 165 332 108 152 305 174 348 + 14.1 +14.3 +5.4 +4.8 162, 010 97, 761 192, 375 106, 128 228, 268 98, 533 ! 598, 491 291, 294 507, 850 305, 469 -15.1 +4.9 1922 1922 60 85 75 87 ,53 '86 64 94 +18.7 +8.6 -15.7 +7.7 33, 105 41,935 53, 054 143, 849 93, 509 -35.0 1922 62 72 45 57 +26.7 -21.0 25, 684 4,959 502 36,929 6,049 1,334 43, 149 29, 502 i 4,031 96, 681 56, 865 10, 802 78, 478 17, 907 2,488 -18.8 -68.5 -77.0 1922 1922 1922 43 32 14 73 86 18 44 14 2 63 +43.8 18 +22.0 6 +165.7 -14.4 -79.5 -66.9 274, 510 296, 101 372, 911 313, 242 446, 354 551, 892 466, 527 1 1,106,999 460, 441 1, 116, 038 1, 093, 775 1, 161, 235 -1.2 +4.0 1913 1919 233 131 266 142 212 96 254 170 +19.7 +76.2 -4.3 +19.9 94, 110 7,056 137, 829 14, 108 184, 668 21, 455 237, 119 14, 413 25, 093 42, 619 +69.8 1919 1909 138 243 248 488 144 478 194 727 +34.0 +52.1 -22.1 +48.9 2,996 403 432 152 24, 183 3,831 -84.2 1913 11 1 2 3 .046 .061 .046 .058 .047 .059 .069 .085 i 1913 1913 1913 207 204 187 197 199 189 132 137 140 135 138 140 +2.2 + 1.7 0.0 -31. 9 30 6 -25.9 637, 599 375, 213 293, 891 833, 934 504, 146 623, 658 876, 210 677, 797 802, 936 856, 029 2,140,975 613, 483 ! 1,483,045 660, 388 1919 1919 i 1919 223 162 68 257 189 102 253 155 97 265 +5.1 208 I +34.4 125 +28.7 +2.4 + 10.5 +21. 6 • " thous. of Ibs— 109, 048 79, 992 135, 167 127, 771 i thous of ba^s thous of bags thous. of bags.. 5,290 713 874 5,112 652 765 5,329 888 889 3,892 652 1,109 |; 3,398 thous. of bags.. thous. of bags-- 1,042 623 756 377 770 462 1,015 576 3,446 ! 1,716 thous. of Ibs.. 7,661 6,084 7,417 6,075 19,088 , 375, 162 2, 347, 743 1, 557, 156 +9.7 +5.0 324, 207 -13.6 1909-13 +7.2 +184. 2 145 169 105 178 +69.0 +5.8 2,528 1913 i 1913 -25.6 j 1913 35 31 110 33 36 116 43 36 80 45 48 93 +4.2 +36.2 +16.2 +36.9 +36.2 -19.8 2,568 1,462 -25.5 -14.8 1913 1913 131 162 112 147 76 96 78 + 1.9 118 +22.5 -24.1 -19.8 21,162 +10.9 1909-13 63 74 Tea Imports Consumption (tax-paid withdrawals) : Large cigars -.. millions Small cigarettes _ .millions -Manufactured tobacco and snuff thous of Ibs Exports: Unmanufactured leaf thous. of Ibs. Cigarettes . millionsSales of loose-leaf warehouses thous. of Ibs. i Revised. 74 90 +21.9 +22.1 80 484 +11.5 +10.4 -2.3 +19.0 93 +3.5 I TOBACCO 504 6,270 516 5,269 | 475 6,652 452 5,681 35, 457 33, 172 ! 34, 346 36, 150 707 93, 551 24, 127 735 51, 833 65, 798 32, 475 656 721 24, 108 i 14, 556 4 February, 1924. 34, 847 1,519 16,380 : 1,431 18,603 ! 108,391 102,975 ! 158,916 2, 307 149, 113 92,752 2, 163 159, 940 -5.8 +13.6 1913 1913 79 374 82 406 72 438 -5.0 1913 96 94 90 -41.6 ! 1909-13 136 209 1913 -6.2 342 340 +7.3 •i 1913 29 58 Subject to revision. 77 380 63 103 +34.6 373 i -1.9 18 I' -71.9 -1.4 -50.6 +9.9 -39.6 43 TREND OF BUSINESS MOVEMENTS—Continued NUMERICAL DATA In many cases April figures cafe now available and may be found in the special table on page 25 1925 January February 24.50 24.50 March March, 1924 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH LATEST MONTH 1924 1925 Per ct. Per cent RELATIVE ncrease increase (+) NUMBERS (+) or decrease (— ) or deBASE crease YEAR (-) 1925 1924 OR cumu- PERIOD March Mar., 1925, lative from i from 1925 I Febru- Mar., from Feb. Mar. Feb. Mar. ary 1924 1924 TOBACCO— Continued Price, wholesale, Burley good leaf, " dark red, Louisville dolls, per 100 lbs.-_ Stocks (reported quarterly) : Chewing, smoking, snuff, and export mills of Ibs Total, including imported -.mills, of Ibs.. 7 7 1,7 266 371 1, 714 24.50 28.00 1913 212 212 186 186 0.0 -12.5 1,522 423 2,036 1,486 421 1,977 1913 1913 1913 150 97 134 183 114 160 156 100 139 188 114 165 +20.2 +14.0 +18.8 +2.4 +0.5 +3.0 452 569 233 190 +20.1 TRANSPORTATION River and Canal Cargo Traffic Panama £ anal: Total cargo traffic thous. of long tons.. In American vessels.. thous. of long tons.. In British vessels thous. of long tons.. Suez Canal .__thous. of metric tons.. Mississippi River: Government-owned barges tons.. Ohio River, Pittsburgh, Pa., to Wheeling, W. Va short tons.. 4 4 2,724 2, 244 1,4 351 507 2,268 4,671 2,753 1,097 6,315 3,747 1,979 945 7,238 -19.8 -28.2 -13.9 +16.2 1915 1915 1915 1919 551 558 741 752 277 274 174 195 234 +23.3 91,800 74, 117 236, 525 268, 794 +13.6 1919 919 849 1098 1051 -4.3 +23.9 345, 183 401,371 483, 250 1, 064, 734 1,112,524 +4.5 1922 112 162 116 134 +16. 3 -16,9 4,456 1,721 2,736 4,527 1,747 2,780 5,227 2,046 3,181 4,600 1,955 2,645 13, 480 5,539 7,941 14, 210 5,514 8,697 +5.4 -0.5 +9.5 1913 1913 1913 103 154 84 104 167 81 102 149 85 118 174 97 +15.5 +17.1 +14.4 +13.6 +4.7 +20.3 5,126 1,820 3,307 4,550 1,750 2,800 5,051 ! 1,993 3,058 j 4,539 2,002 2,537 13, 774 5,736 8,038 14, 727 5,563 9,165 +6.9 -3.0 +14.0 1913 1913 1913 103 153 83 101 160 78 101 140 87 113 159 95 +11.0 +13.9 +9.2 +11.3 -0.4 +20.5 29.9 29.6 27.8 27.0 25.1 24.8 25.5 25.6 -2.9 +0.4 -8.8 +3.2 1,907 942 517 2,305 1,840 1,037 428 2,209 81, 087 95, 907 365,970 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: ItTotal--thous. of net tons.. American thous. of net tons Foreign thous. of net tons Freight rates, Atlantic ports to: United Kingdom .weigh ted index number. . All Europe weighted index number 1920 1920 " i Freight Cars Surplus (daily av. last week of month) : Box 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 Forest products Merchandise and misc -thous. of cars . . thous. of cars.. 99 126 138 180 | 183 246 131 150 182 103, 209 69, 736 213, 921 103, 177 138, 425 285, 015 113, 615 185, 724 344, 959 81, 342 135, 976 248, 301 1919 1919 1919 63 75 71 61 44 406 100 10 167 5 25 60 157 105 364 1919 i 1919 1919 6 59 17 186, 539 8.1 185, 047 8.0 186, 417 8.4 202, 864 7.6 1913 1913 110 110 113 !! 121 118 112 3,555 197 146 861 265 40 2,046 3,652 178 128 774 316 42 2,214 4,558 188 140 806 404 59 2,960 4,608 215 155 910 406 57 2,866 1919 1919 1919 1919 1919 1919 1919 104 117 93 110 129 23 105 132 105 127 1 105 90 108 122 104 164 I1 128 35 26 142 I 110 336,800 77, 566 454, 996 355, 555 64, 920 34, 554 360, 608 79, 572 486, 481 377, 265 73, 117 371, 691 87, 134 505, 371 390, 601 80, 320 4 35, 981 1, 057, 816 262, 249 1, 453, 811 1, 150, 609 203, 312 70, 487 1, 048, 027 245, 812 1, 426, 251 1, 116, 555 203, 879 70, 610 -0.9 i 1913 -6.3 i 1913 -1.9 1913 -3.0 \ 1913 1913 +0.3 1913 +0.2 199 145 188 206 120 132 5,652 4,993 2,503 6,470 5,421 2,651 5,609 5,123 2,641 17, 159 15, 373 7,848 18, 442 15, 616 7,954 +7.5 i 1913 +1.6 i 1913 1913 +1.4 11, 404 17.7 11,611 18.1 11, 558 17.9 33, 653 34, 329 +2.0 : 1919 1919 661 36, 982 534 15, 387 430 19, 939 552 16, 250 ! +10.1 +39.7 +34.2 +36.6 +21.0 +38.9 -95 1 +150 -64.1 -96.8 -76.2 -83.5 122 124 +0.7 +5.0 -8.1 +10.5 131 111 98 108 163 36 147 +24.8 +5.6 +9.4 +4.1 +27. 8 +40.5 +33.7 -1.1 -12.6 -9.7 -11.4 -0.5 +3.5 +3.3 210 151 198 215 134 133 190 204 135 138 178 191 196 208 108 122 123 +7.1 +2.6 +6.9 +6.1 +12.6 -3.0 -8.7 -3.7 -3.4 -9.0 162 215 120 163 219 127 164 213 121 188 231 128 +14. 5 +8.6 +5.9 +15.4 +5.8 +0.4 73 73 74 75 73 74 75 75 +1.8 +2.3 +0.5 +1.1 0.0 +0.1 -. _ +10.4 +0.3 +0.6 -4.5 +7.5 +7.8 -0.3 +1.3 -21.6 -40.2 -6.1 -19.0 -39.4 3 1 !___.. Railroad Operations Revenue: 350, 619 Freight thous. of dolls 88, 674 Passenger thous. of dolls 484, 774 Total operating thous. of dolls 383, 735 Operating expenses thous. of dolls 65, 842 Net operating income thous. of dolls 37, 035 Freight carried mills ton-miles Pullman company operations: 6,320 Revenue.. . ,_. thous. of dolls _... 5,202 Expenses thous. of dolls 2,800 Passengers carried thousands Locomotives in bad order: 11,314 ^ Total end of month number 17.6 Ratio to total in use per cent H! Equipment Installations Locomotives (Am. Ry. Assn.) : 64, 911 64, 747 64, 779 64, 824 Owned (end of month) number Tractive power thous of Ibs 2, 590, 525 2, 591, 619 2, 592, 980 2, 560, 077 176 138 125 167 Installed during month number 6,250 10, 457 6,233 7,456 Tractive power thous of Ibs 181 170 169 213 Retired during month number 6,033 4,889 5,119 6,242 Tractive power thous of Ibs 520 315 293 280 Unfilled orders (end of month) . .number _ _ 7 83 77 81 Freight cars (Am. Ry. Assn.): Owned (end of month) number 2, 341, 109 2, 346, 687 2, 350, 697 2,311,405 202, 331 208, 908 208, 339 207, 626 Capacity mills of Ibs 9,562 1 16, 007 15, 024 11, 768 Installed during month number 892 1,508 1,444 1,103 Capacity mills, of Ibs.. 8,726 12, 067 9,453 7,867 Retired during month number 705 949 730 654 Capacity... _ mills, of lbs_. 62, 340 45, 419 50, 603 Unfilled orders (end of month) . . .number. . 58, 910 2,697 5,572 5,285 4,878 Buildinein R. R shops number. 4 36, 537 3, 416 31, 521 2,560 42, 799 4,055 29, 387 2,333 -34.9 -46.1 +3.4 +5.6 +17.1 +18.7 -6.8 -8.9 +0.2 +1.7 +0.3 +3.3 +6.5 +67.4 +4.4 +69.1 +27.7 +38.3 +30.0 +34.6 -10.2 -27.1 +14.2 +106. 6 February, 1924. ' Quarter ending December, 1924. Relatives indicated for February and percentage comparisons with that month refer to quarter ending the previous December. TREND OF BUSINESS MOVEMENTS—Continued Per ct. i increase NUMERICAL DATA ( } or tdecrease In many cases April figures are now available and may be found in the special table on page 25 1925 I January j February March, 1924 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH LATEST MONTH BASE YEAR OR PERIOD (-) i cumulative 1925 | from March 1924 1925 1924 • Perc ent i Qrmdecreage crease ((+) _) RELATIVE "\TTTM~RFpq IM U.Vli3J^Kb i l 1924 1925 March Mar., 1925, : from from Febru- Mar., Feb. Mar. Feb. Mar. ary 1924 i 1 TRANSPORTATION— Continued Passenger Travel National parks: Visitors . number Automobiles entered.. . ._ number. Arrivals from abroad: Aliens _ _ ...number-United States citizens number Departures abroad: Aliens . number United States citizens _. . ._ .number . Passports issued number 1920 56 24 68 27 66 18 1 84 +27.1 44 1+150.3 +24.0 +63.3 -31.1 +10.3 1913 1913 26 90 31 102 18 94 23 i +27.3 119 ! +26.1 -25.2 +16.2 +12.0 +9.1 1913 1913 1913 16 80 332 18 65 611 18 77 451 +11.3 ! 1913 +27.4 i 1913 342 247 357 272 380 318 17, 279 21, 386 2,674 +5.4 i 1913 18, 212 22, 462 ! +5. 0 1 I 1919 1919 +9.8 2,936 111 103 76 117 109 85 116 108 82 4, 985 1,716 3,269 15, 008 4,954 10, 054 15,916 5,477 10, 440 1919 +6.1 +10.6 ! 1919 1919 +3.8 149 128 162 154 141 161 154 143 160 400 4,962 410 4,575 1,262 13, 746 1,234 14, 682 -2.2 +6.8 3,130 994 2,540 3,182 835 3,316 3,237 1,542 3,194 10, 228 4,705 8,254 10, 026 3,205 8,811 -2.0 -31.9 +6.7 497 208 505 211 511 226 .... 14, 048 14, 133 38, 292 852 45, 700 1,267 58, 082 3,171 46, 850 1,942 121, 050 4,678 142, 074 5,290 +17.4 +13.1 1920 20, 952 16, 987 20, 913 23, 186 26, 619 29, 228 35, 585 25, 146 99, 364 62, 945 68, 484 69, 401 6,183 22, 538 8,640 4,087 23, 211 8,816 4, 993 . 24, 604 15, 304 4,202 19, 474 11,943 13, 631 64, 488 26, 028 15, 263 70, 353 32, 760 52, 023 12, 492 49, 890 11, 782 44, 963 9, 163 91, 547 19, 058 101,913 24, 274 9,392 11,593 1,596 8,820 10, 869 1,340 4 8, 440 10, 448 1, 250 5,572 1,695 3.877 4,982 1,742 3,240 5,362 2,040 3,323 450 5,122 384 4,598 3,714 1,376 2,955 +25.9 PUBLIC UTILITIES Telephone companies: Operating revenues thous. of dolls Operating income thous of dolls Telegraph companies: Commercial telegraph tolls thous of dolls Operating revenues thous. of dolls Operating income thous. of dolls Electric power: ProductionTotal mills, of kw. hours __ By water power.. mills, of wk. hours. . By fuels.. .mills, ofkw. hours. _ In street rys. mfg. plants, etc.* mills, ofkw. hours. _ Central stations t--mills. ofkw. hours.. Consumption of fuels — Coal... - -thous. of short tons Oil thous. of bbls Gas _- _ .millions of cu. ft 4 4 4 4 22 i +22.2 4-18.8 82 1 +6.0 +26.3 783 i +73.6 +28.1 % 165 1 +7.6 168 i +17.1 164 ; +2.6 +7.6 +18.9 +1.7 ! +4-2 ! +7.9 -2.4 +8.5 1919 1919 1919 114 168 146 111 167 179 107 167 179 109 i +1.7 91 -16.0 186 +30.6 -1.7 -45.8 +3.8 542 241 1914 1920 1915 1922 1922 113 136 123 108 97 113 134 125 108 97 106 119 120 100 94 107 127 120 99 94 +1.2 +7.1 0.0 -1.0 0.0 -5.7 —6 2 -4.0 -8.3 -3.1 14, 532 15, 259 1914 1915 252 284 256 289 238 281 245 ! +2.8 279 i -0.7 -4.8 -3.5 28.45 28.16 1914 1915 1922 1922 222 115 231 226 226 \ 112 231 222 224 114 234 189 228 i +1.7 112 — 1.8 232 ! -0.9 189 i 0.0 +1.0 0.0 +0.4 -14.9 27. 20 29 05 30. 73 23. 67 17. 36 1914 1914 1914 1914 1914 217 214 j 216 218 215 221 217 213 219 221 221 t 222 222 222 ; 226 4 4 1914 1914 91 94 91 93 91 94 1921 1921 1921 1921 74 89 90 84 11 99 : 80 \ 73 78 82 94 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 Employment agency operations: Workers registered ._ number.. Jobs registered number Workers placed number Average applicants per job number Federal civilian employees, Washington, D. C number 28,29 27.97 ! 27.09 29.20 30.75 24.02 17.79 27.12 29.35 30.96 23.81 17.70 49.8 48.5 49.9 48.6 146, 136 83, 856 72, 600 1.74 148, 080 90, 720 77, 424 1.63 193, 292 132, 886 113,724 1.45 156, 244 112,379 93, 508 1.39 65, 938 65, 505 64, 884 64, 680 34, 746 22, 082 12, 664 33, 756 21, 033 12, 723 35, 837 19,817 16, 020 31, 450 17, 381 14, 069 92, 426 54, 562 37, 864 25, 379 14, 204 1,366 6,672 259 1,707 176 2,796 160 26, 115 14, 843 1,371 6,644 262 1,778 176 2,850 160 29, 681 16, 916 1,381 7,453 267 2,019 174 3,293 160 27, 344 15, 906 1,285 6,875 235 1,837 168 2,731 155 3,083 219 1,983 1.100 2,826 219 1,837 989 3,090 219 2,005 1.085 3,062 219 1,939 1.123 4 4 4 4 4 "" |i ! 49.0 48. 3 482, 099 324, 837 267, 726 487, 508 307, 462 263, 748 +1.1 -5.3 -1.5 96 114 120 84 +30.5 +46.5 +46.9 +23.7 +18.2 +21.6 -11.1 +4.3 -0.9 +0.3 DISTRIBUTION MOVEMENT Mail-order houses: Total sales thous. of dolls. . Sears, Roebuck & Co thous. of dolls.. Montgomery Ward & Co .thous. of dolls. . Ten-cent stores: Total sales thous. of dolls.F. W. Woolworth & Co.. .thous. of dolls.. Number of stores operated S. S. Kresge Co thous. of dolls Number of stores operated McCrory Stores Corp thous. of dolls.. Number of stores operated -S. H. Kress & Co thous. of dolls.. Number of stores operated Restaurant chains: Total sales, 2 chains thous. of dolls. _ Stores operated. number.. Childs Co thous. of dolls. _ Waldorf svstem thous. of dolls. . * t See text on p. 29. +12.9 +15.3 +9.4 1913 1913 1913 270 224 380 279 218 425 299 264 384 318 249 484 71, 846 41, 471 81, 175 +13.0 45,963 ! +10.8 1913 1913 294 243 343 288 328 269 372 307 18,351 20,769 i +13.2 1913 545 622 5,504 | +14.6 1913 358 408 j 1 601 1 395 674 4,801 7,228 8,939 +23. 7 1913 261 304 j §17 367 9,042 8,999 -0.5 1920 111 117 108 118 5,733 3.309 5,825 3.174 1913 1920 ' February, 1924. 257 138 273 142 259 125 282 137 104, 339 62, 932 41, 407 +1.6 -4.1 449 +6.2 +13.9 -5.8 +14.0 +25.9 +13.9 +13.7 +8.5 + 14.0 +6.3 +0.7 +7.4 +12.2 +8.4 +1.9 +13.6 +13.6 +9.9 -1.1 +3.6 +15.5 +20.6 0.0 +3.2 +9.3 0.0 +9.1 4-9 7 +0.9 0.0 +3.4 -3 4 45 TREND OF BUSINESS MOVEMENTS—Continued. [ Per ct. Per cent RELATIVE increase increase (+) NUMBERS ( } or decrease (— ) i or tdeBASE i crease YEAR CUMULATIVE TOTAL (-) 1924 1 1925 OR i FROM JANUARY 1 cumu- PERIOD March Mar., 1925, THROUGH LATEST lative from from MONTH 1925 Febru- Mar., 1 from ary Feb. Mar. Feb. Mar. 1924 1924 1924 1925 NUMERICAL DATA In many cases April figures are now available and may be found in the special table on page 25 1925 January February March, 1924 March DISTRIBUTION MOVEMENT— Contd. Chain stores: J. C. Penney Co. thous. of dolls Number of stores United Cigar Stores Co.. .thous. of dolls. . Number of stores A. Schulte (Inc.)thous. of dolls Number of stores Owl Drug. Co thous. of dolls.. Number of stores Magazine advertising (for following month) thous. of lines Newspaper, advertising thous. of lines. _ Postal receipts, 50 selected cities thous. of dolls.. Postal receipts, 50 industrial cities.. . thous. of dolls Money orders: Domestic paid (50 cities)— Quantity number.. Value thous. of dolls Domestic issued (50 cities)— Quantity . . number Value thous. of dolls Foreign issued thous. of dolls Internal-revenue taxes collected: Firearms and shells thous. of dolls.. Jewelry, watches, and clocks thous of dolls Theater admissions thous. of dolls Bonds and stocks issued and conveyances thous. of dolls Capital stock transfers thous. of dolls.. BANKING AND FINANCE Life Insurance ( Association of Life Insurance Presidents) Policies, new (45 companies) : Ordinary number of policies-Industrial number of policies Group _ number of contracts . . Total. ..number of policies and contracts .Policies and certificates issued: Total policies and certificates number-Group insurance certificates- -certificates. _ Amount of new insurance (45 companies) : Ordinary . -thous. of dolls. _ Industrial thous. of dolls.. Group thous. of dolls.. Total insurance thous. of dolls -. Premium collections (45 companies) : Ordinary thous. of dolls.. Industrial .thous. of dolls.. Group . thous. of dolls .. Total thous. of dollsAdmitted life insurance assets (41 companies): Grand total .mills, of dolls — Mortgage loansTotal mills of dolls Farm mills, of dolls All other mills, of dolls Bonds and stocks (book values)— Total mills of dolls Government mills, of dolls.. Railroad mills, of dolls . Public utilities mills of dolls All others - .mills, of dolls.. Policy loans and premium notes mills, of dolls Other admitted assets mills of dolls (Life Insurance Sales Research Bureau) Sales of ordinary life insurance (81 companies) : United States total .thous. of dolls Eastern manuf. district ... thous. of dolls.. Western manuf. district.. -thous. of dolls— Western agric. district thous. of dolls. . Southern district thous. of dolls ._ Far Western district thous. of dolls ._ 3,934 568 5,389 2,547 1,808 256 1,327 84 4,225 568 5,211 2,537 1,759 258 1,242 84 6,051 582 5,829 2,611 1,898 260 1,394 84 4,755 488 6,164 2, 458 1,813 250 1,412 84 11,931 14, 210 +19.1 1913 17, 179 16, 429 -4.4 1913 5,066 5,465 +7.9 4,245 3,963 -6.6 1,975 93, 088 2,222 85, 803 2,443 106, 501 2,482 104, 116 12 8, 392 286, 440 12 8, 177 285, 392 -2.6 -0.4 27, 271 25, 644 29, 085 27, 463 78, 758 82, 000 2,979 2,856 3,035 2, 887 8,474 8,870 11, 188 61, 179 10, 533 74, 014 12, 909 91, 845 11,993 108, 773 33, 342 261,819 3,127 30, 563 2,716 2,960 28, 683 2,840 3, 605 33, 512 3,540 3,337 33, 268 3, 575 9,188 90, 575 8,787 " 128 +27.3 +19.3 -5.4 +6.2 +4.7 +4.0 -1.3 0.0 200 127 +9.9 +24.1 -1.6 +2.3 140 158 +13.4 +5.9 122 130 +6.3 +5.1 154 166 136 113 166 141 +22.6 +24.1 +7.6 -15.6 149 130 82 176 153 116 156 132 96 190 154 119 +21.8 +16.8 +24.6 +8.0 +0.7 -1.0 28 40 38 43 +15.8 +8.6 211 236 228 250 1919 246 270 262 282 1913 431 434 382 429 1913 1919 181 106 203 124 182 102 +4.1 1919 137 149 +4.7 1922 117 124 34, 630 227, 038 +3.9 -13.3 1919 1919 135 115 9,692 92, 758 9,096 +5.5 +2.4 +3.5 1919 1919 1919 +17.9 1919 170 120 139 13364 429 1,602 2,276 1,110 2,127 522 2,229 13 1, 360 is 6, 921 13 8, 977 13 21, 237 3,234 6,632 2,633 1,556 2,280 1,513 2,457 1,201 3,718 770 11,408 2,571 7,370 4,270 -35.4 +66.1 1919 1919 234,227 ! 591, 759 693, 674 2, 109, 630 121 | 312 928,022 ! 2, 701, 701 583, 133 2, 160, 062 421 2, 743, 616 -1.5 +2.4 +34.9 +1.6 1913 1913 1913 1913 -53.0 +4.8 1919 1919 178, 402 618, 425 178 797,005 185, 907 218, 824 732, 120 809, 517 114 129 918, 141 1, 028, 470 844, 304 47, 477 940, 796 1,055,357 i 948, 390 22, 769 27,016 ! 20, 489 2, 748, 943 47, 554 2, 840, 457 +3.3 97, 262 +104. 5 537, 504 147, 441 68, 969 753, 914 558, 754 177, 666 36, 728 773, 148 659, 972 193, 604 40, 822 894, 399 635, 192 156, 792 35,040 827, 024 1, 632, 304 480, 210 69, 588 2, 182, 101 1, 756, 230 +7.6 +8.0 518,711 146, 519 +110.4 2, 421, 461 +11.0 1913 1913 1913 1913 116, 835 36, 550 4,171 157, 556 116, 975 32, 901 3, 125 153, 000 128, 544 37, 022 9,173 1 174, 738 111,422 32, 814 1, 684 145, 920 325, 629 92, 881 6,988 425, 498 362, 354 +11.3 106, 473 +14.6 16, 469 +135. 7 485, 294 +14.1 1913 1913 1913 1913 8,549 8,606 8,673 3,377 1,456 1,921 3,410 1,460 1,950 3,449 1,474 1,975 3, 547 1,082 1,922 441 102 3,561 1, 078 1,927 454 102 3,583 ! 1,067 1,939 474 102 1,027 599 1,032 602 1,039 603 972 519 559, 916 238, 217 120, 740 81, 576 62, 662 56, 721 611, 480 259, 837 131,410 92, 431 72, 367 55, 435 702, 994 284, 997 152, 821 111, 129 85,011 69, 036 667, 577 275, 970 148, 620 96, 836 81,871 64, 280 1, 752, 699 740, 920 382, 403 253, 321 204, 910 171, 145 27, 682 22, 277 22, 924 18, 571 26, 382 21, 219 21, 546 19, 192 63, 546 56, 088 26, 721 18, 525 21, 057 15, 672 23, 349 17, 759 19, 650 16, 200 58, 459 47, 853 274 1,684 715 3,083 2,265 78.0 April. 434 1,729 696 3,030 2,270 75.8 ; +43.2 +2.5 +11.9 +2.9 +7.9 +0.8 +12.2 0.0 1685 2161 1920 2750 69 118 +7.8 -20.6 -33.9 +56.0 231 293 232 274 171 183 193 213 1780 2420 2280 2580 181 202 200 224 +17.7 +10.6 +13.2 +12.0 -6.6 +16.7 +6.6 +10.8 +12.2 +18.7 +11.3 +31.9 +18.1 +9.0 +11.1 +15.7 +3.9 +23.5 +16.5 +8.1 98 89 104 76 64 149 352 443 389 460 277 302 342 373 888 2018 2116 2351 337 420 392 454 +9.9 +15.4 278 286 300 330 280 304 305 343 +12.5 +12.8 7139 4678 8681 25481 +193.5 +444. 7 283 293 307 351 +14.2 +19.7 7,877 1923 106 106 116 117 +0.8 +10.1 3,009 ! 1,370 1, 633 1923 1923 1923 104 108 113 112 109 114 127 116 136 128 117 138 +1.1 +1.0 +1.3 +14.6 +7.6 +20.6 3, 378 1,155 1,800 333 89 1923 1923 1923 1923 1923 101 96 102 116 116 101 95 103 119 116 107 88 110 162 133 108 88 111 169 133 +0.6 -1.0 +0.6 +4.4 0.0 +6.1 -7.6 +7.7 +42.3 +14.6 1923 1923 104 110 105 113 111 131 112 131 +0.7 +0.2 +6.9 +16.2 1, 874, 390 +6.9 783, 051 +5.7 404,971 j +5.9 285, 136 +12.6 220, 040 +7.4 +5.9 181, 192 1921 1921 1921 1921 1921 1921 129 147 134 100 110 130 157 179 165 119 143 152 144 168 146 114 127 131 165 185 170 137 149 163 +15.0 +9.7 +16.3 +20.2 +17.5 +24.5 +5.3 +3.3 +2.8 +14.9 +3.8 +7.4 76, 988 62, 067 +21.2 +10.7 1919 1919 98 I'OO 106 109 113 106 130 121 +15.1 +14.3 +22.4 +10.6 71, 127 51, 956 +21.7 +8.6 1913 1913 230 256 249 282 267 273 296 309 +10.9 +13.3 +18.8 +9.6 22 20 -12.9 -1.2 65 66 118 112 -4.7 -0.7 138 137 -3.8 117 113 +2.0 151 154 change in law. -21.6 13.8 +44.1 -6.7 +8.8 -4.3 I Banking Debits to individual accounts: New York City mills, of dolls.. Outside New York City.. .mills, of dolls.. Bank clearings: New York Citv mills, of dolls Outside New York City. ..mills, of dolls.. Federal reserve banks: Bills discounted mills of dolls Notes in circulation mills of dolls Total investments mills of dolls Total reserves mills, of dolls Total deposits mills, of dolls Reserve ratio per cent. 12 Four months' cumulative through 482 1919 27 25 378 1919 77 1,709 1,983 76 1919 71 78 663 460 1919 147 147 3, 008 3,223 1919 2,184 103 104 2,007 1919 161 161 77.3 1 80.8 3 Current data not comparable with data prior to July, 1924, due to 46 TREND OF BUSINESS MOVEMENTS—Continued Per ct. Per cent RELATIVE increase increase (+) NUMBERS 1 (+) or decrease (— ) or deBASE crease YEAR CUMULATIVE TOTAL i (-) 1924 OR 1925 FROM JANUARY 1 cumu- PERIOD March Mar., 1925, THROUGH LATEST ! lative from from MONTH ! 1925 Febru- Mar., from ary 1924 Feb. Mar. Feb. Mar. I 1924 1924 1925 NUMERICAL DATA In many cases April figures are now available and may be found in the 1925 special table on page 25 March, 1924 January February March BANKING AND FINANCE— Continued Banking— Continued Federal reserve member banks: Total loans and discounts. .mills, of dolls.. 13, 051 5,488 Total investments mills, of dolls Net demand deposits mills, of dolls 13, 014 Interest rates: 3.63 to New York call loans per cent.. fe»i Commercial paper 4—6 mos per cent 3.63 Savings deposits, by Federal reserve districts (balance to credit of depositors) : Total 846 banks thous of dolls 7, 352, 486 Boston, 64 banks thous. of dolls 1, 295, 931 New York, 30 banks. ..thous. of dolls.. 2, 058, 549 Philadelphia,78 banks thous. of dolls 518, 203 Cleveland, 18 banks.. .thous. of dolls.. 506, 884 Richmond, 91 banks thous. of dolls 330, 002 Atlanta, 96 banks thous. of dolls.. 231, 278 Chicago, 209 banks thous. of dolls.. 924, 912 St. Louis, 32 banks thous. of dolls.. 157, 486 Minneapolis,15 banks. thous. of dolls. _ 95, 908 Kansas City, 56 banks thous. of dolls 106, 855 Dallas, 85 banks thous. of dolls.. 68, 434 SanFrancisco,72banks. thous. of dolls. .1, 058, 044 U. S. Postal Savings thous. of dolls. . 133, 472 New York State Savings banks thous of dolls 3, 409, 097 13, 143 5,396 12, 932 13, 140 5,478 12, 588 12, 065 4,515 11,171 1921 1921 1919 100 134 106 101 134 106 110 160 122 110 163 119 0.0 +8.9 +1.5 +2]. 3 2 7 +12.7 3.81 3.66 4.00 3.94 4.00 4.59 1913 1913 137 87 122 83 116 66 122 71 +5.2 +7.6 7, 429, 237 1, 302, 424 2, 063, 855 520, 032 509, 621 334, 662 234, 754 932, 382 157, 483 96, 384 107, 868 70, 066 1, 099, 706 134, 033 7,468,662 1,310,807 2, 083, 503 521, 786 512, 388 336, 269 235, 180 933, 809 157, 264 1 97, 845 108, 842 71,336 1, 099, 633 133,810 6, 990, 191 11,241,474 1,948,347 485, 844 465, 952 302, 960 227, 205 903, 725 136, 244 93, 542 108, 394 ! 65, 563 1, 010, 941 132, 770 1920 i 1920 i 1920 1920 1920 ! 1920 1920 1920 1920 1920 1920 1920 1913 123 119 126 125 134 132 133 119 150 128 134 145 144 332 129 120 127 125 135 134 135 120 150 130 134 146 144 334 137 126 135 133 148 148 139 124 174 134 133 156 157 337 137 126 136 134 148 149 139 124 174 136 134 159 157 337 +0.5 +6.8 +0.6 +5.6 +1.0 +6.9 +0.3 + 7.4 +0.5 +10.0 +0.5 + 11.0 +0.2 +3.5 +0.2 +3.3 -0.1 + 15.4 +1.5 +4.6 +0.9 +0.4 + 1.8 +8.8 0.0 +8.8 -0.2 +0.8 3, 417, 732 3, 462, 469 3, 233, 022 1913 184 187 198 201 +1.3 + 7.1 1919 i 1919 | 1919 +3.8 ! 1913 -8.7 1913 85 85 85 85 106 303 189 194 343 1072 82 82 87 174 288 82 -0.2 82 -0.2 -4.9 83 203 + 16.6 996 +246. 0 -3.5 -3.2 -20.1 +4.7 " -i i 1920 0.0 -14.5 Public Finance Government debt: Interest-bearing mills of dolls Total gross debt . mills, of dolls Short-term debt mills of dolls Customs receipts thous. of dolls.. Total ordinary receipts.. .thous. of dolls.. Expenditures chargeable to ordinary receipts . thous. of dolls. Money in circulation: Total mills, of dolls Per capita dollars Business Failures Liabilities: Total commercial thous of dolls Manufacturing establishments... -thous. of dolls.. Trade establishments thous. of dolls Agents and brokers thous. of dolls.. Banks (quarterly) - thous. of dolls Firms: Total commercial number Manufacturing establishments ..number.. Trade establishments. number.. Agents and brokers _ _ number Banks (quarterly) number 20, 789 21, 057 7,122 46, 968 171, 600 20, 658 20, 981 6,992 46, 190 173, 632 20, 608 20, 932 6, 651 53. 858 600, 738 21,357 21, 624 8,327 51,459 646, 389 141,685 1,036,303 147, 016 945, 970 292, 457 161, 286 385, 129 ! 291, 026 760, 223 838, 872 4,752 41.86 4,804 42.28 4,776 41.99 54, 354 40, 123 34,005 I 11,909 24, 655 17, 790 7 28, 154 15, 334 21, 067 3,722 13, 375 17, 595 3,035 43, 926 2,317 480 1, 757 80 7 105 1,793 409 1,285 99 1,859 429 1, 345 85 144 +10.3 4,813 42.85 97, 651 184, 866 72, 838 19,240 5,573 100, 276 118, 191 56, 363 10,310 1,817 484 ; 1,154 79 265 128, 482 -30.5 1913 345 481 267 637 + 138.8 +32.3 1919 1919 100 95 100 95 100 94 100 93 -0.6 -0.7 -0.8 -2.0 158 1913 40, 618 -65.6 1913 63, 317 +12.3 1913 24, 547 +138. 1 | 1913 1913 5,655 1,387 3,942 226 5,969 1,318 4,387 264 +5.6 -5.0 +11.3 + 16.8 1913 1913 1913 1913 1913 | 428 176 149 -15.2 — 65.2 159 703 184 201 65 194 1657 1271 148 220 130 357 129 -12.8 184 ! -16.5 106 1 -18.5 557 +56.0 -81.6 -8.5 -45.5 -56.2 136 137 124 146 883 134 116 138 183 350 139 122 145 157 480 129 113 135 152 1217 +3.7 : +2.3 +4.9 -11.4 +4.7 i + 16.6 -14. 1 +7.6 +37.1 -45.7 i Dividend and Interest Payments (For the following monfti) Grand total Dividend payments: Total . Indus, and misc. corp Steam railroads. Street railwavs thous. of dolls.. thous. thous. thous. thous. of dolls of dolls_. of dolls. . of dolls 12 1,394,] 30 +6.3 1913 216 261 225 273 +21.4 12 420, 280 12 219, 340 "112,520 12 38, 250 +3.8 +3.3 +4.0 +7.4 1913 1913 1913 1913 120 129 122 86 133 152 98 187 126 135 ]26 98 135 156 101 193 +7.4 +15.6 -19.9 +1.9 +2.7 +3.4 +96.4 ; +3.6 759, 793 76, 606 1, 145, 930 +50.8 218, 826 +185. 7 1920 1920 101 175 113 54 199 250 125 329 -37.3 I +10.9 +31.6 4-509. 3 181, 843 654, 557 253, 380 1,111,377 +39.3 +69.8 1920 1920 66 131 64 132 115 254 90 172 -21.8 , +40.2 -32.1 ' +30.9 763, 123 1,181,171 +54.8 1913 186 210 280 236 -15. 5 +12.8 1913 1913 1913 305 151 384 303 204 469 235 143 250 317 225 468 +35.3 : 201,000 333, 350 404, 700 79, 300 43, 100 29, 075 7,125 87, 950 51, 875 31, 250 4,825 94, 450 59, 950 25, 025 9, 475 92, 725 58, 375 24, 200 9,150 12 404, 799 12 212, 420 12 ]08, 195 12 35, 600 413, 404 95, 193 450, 171 53, 382 282, 355 70, 251 254, 584 11, 529 70, 401 438, 197 102, 701 400, 852 80, 278 272, 328 57, 030 209, 083 473, 272 383, 645 324, 254 287, 327 386, 250 121,312,100 +4.8 New Security Issues Total corporation (Commercial and Financial Chronicle): Purpose of issueNew capital thous. of dolls Refunding thous. of dolls Kind of issueStocks thous. of dolls Bonds and notes thous. of dolls.. Total corporation (Journal of Commerce) . thous. of dolls States and municipalities: Permanent loans thous. of dolls Temporary loans.. thous. of dolls.. New incoroorations thous. of dolls.. +6.2 +4.2 -14.2 t Quarter ending Dec. 31, 1924. Relatives indicated for February and percentage comparisons with that month refer to 12 Four months' cumulative through April. 121, 127 79, 848 53, 375 57, 620 777. 712 , 431, 200 108, 050 90, 658 806.402 103, 135 82, 337 808, 924 309, 025 291, 074 193, 505 201, 653 2. 348. 678 2. 015. 314 +4.8 +57. 3 +10.1 +87.0 I -0.3 quarter ending the previous December. 47 TREND OF BUSINESS MOVEMENTS—Continued 1 or decrease In many cases April figures are now available and may be found in the special table on page 25 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH LATEST MONTH 1925 March, January BANKING AND FINANCE-Continued Per ct. increase NUMERICAL DATA February March 1924 1924 1925 cumulative 1925 from 1924 Per cent increase (+) or decrease (— ) RELATIVE NUMBERS BASE YEAR OR PERIOD 1924 1925 March Mar.» 1925, from from Febru- Mar., Feb. Mar. Feb. Mar. ary 1924 1 Agricultural Loans By Federal farm loan banks: Loans closed . . . .thous. of dolls Balance outstanding thous. of dolls.. By joint-stock land banks: Loans closed _. thous. of dolls _ _ Balance outstanding thous. of dolls.. By War Finance Corporation: With banks and livestock loan companiesBalance outstanding ..thous. of dolls.. With cooperative market associationsBalance outstanding. .thous. of dolls.. By Federal intermediate credit banks: Direct loans and rediscountsClosed thous. of dolls _ Balance outstanding. -thous. of dolls. 11,969 935, 330 13, 458 944, 995 14, 185 950, 323 19,098 | 847,373 54, 476 39,612 -27.3 1919 163 164 116 122 9,945 454, 393 11, 805 464, 874 16, 787 477, 082 8,304 407,225 19, 860 38, 537 +94. 0 1919 99 192 273 388 37, 158 35, 283 33, 316 65, 300 1922 39 39 21 20 -5.6 1,075 1,075 975 1,799 1922 28 25 15 14 g 3 6,895 63, 258 5,050 61, 034 9,041 59, 095 42,895 138. 48 80.90 105. 64 136. 96 109.82 ii +5.4 +0.6 -25.7 +12.1 +42.2 +102. 2 +2.6 +17.2 -49.0 -45.8 +79.0 +157.2 -3.2 +37.8 3 515 Stocks and Bonds Stock prices, closing: 135. 38 25 industrials, average dolls, per share.. 79. 97 25 railroads, average dolls per share. ._ 105. 06 103 stocks, average dolls, per share.. Stock sales: N. Y. Stock Exchange ..thous. of shares. . 46, 739 Bond sales: Miscellaneous thous. of dolls.. 303, 825 Liberty- Victory thous. of dolls.. 48, 638 Total thous. of dolls.. 352, 463 Bond prices: Highest-grade rails.p. ct. of par, 4% bond.. 85.82 Second-grade rails.p. ct. of par, 4% bond-75.12 Public utility p. ct. of par, 4% bond.. 70.63 74.61 Industrial p. ct. of par, 4% bond.. Comb. price index .p. ct. of par, 4% bond.. 76.07 5 Liberty bonds p. ct. of par.. 102. 21 16 foreign governments and city .p. ct. of par.. 103. 24 Comb, price index, 66 bonds.p. ct. of par.. 96.94 Municipal bond yield ..per cent.. 4.16 79.07 99.78 32, 750 38, 568 18,206 66, 605 280, 237 26, 691 306, 928 281, 732 33', 316 205,567 72,622 637, 340 217, 690 855, 030 86.37 76.00 71.26 75.16 76.82 102. 11 86.98 75.50 70.03 103. 14 97.23 4.11 315,048 74. 90 76.38 102. 03 102. 32 96.76 4.10 1913 1913 1921 192 73 104 189 74 97 238 98 125 +77.2 1913 298 263 473 557 865, 794 +35. 8 108,645 -50.1 974,439 ! +14.0 1919 1919 1919 250 23 75 288 31 90 393 11 100 395 14 102 +24.8 +2.7 +37.1 -54. 1 +13.2 1915 1915 1915 1915 1915 1921 92 91 90 103 94 107 92 91 91 103 94 107 96 101 97 107 100 110 97 100 95 106 100 109 +0.7 -0.7 1.7 -0.3 —0.6 -0.1 +5.1 +9.6 +4.2 +3.4 +5.6 +2.3 108 110 98 108 110 98 112 114 92 111 113 92 -0.8 -0.5 0.0 +2.6 +3.0 -6.1 61.09 82 12 278, 189 : 118,057 82.76 68.87 67.19 !; 72.42 72.35 i ,, 99 70 99.71 93 93 4.34 1921 1921 1913 i 1 235 95 118 -1.1 -2.3 -5.5 +17.8 +0.5 +24.7 +29.4 +21.5 +111.8 Corporation Stockholders I ( The following figures are quarterly) Pennsylvania Railroad Co.: 261 Domestic _ _ .__ . number 7 142, Foreign number . _ 7 2, 913 U.S. Steel Corp. common stock: Domestic number __ 7 794, 708 Foreign _. . number 1, 577 Shares held by brokers per ct. of total.. 7 26. 21 American Telephone & Telegraph Co.: Domestic _ number _ _ 7 341, 625 Foreign number.. 7 3, 508 Gold and Silver Gold: Domestic receipts at mint fine ounces.. Rand output. thous. ofounces.. Imports thous of dolls Exports thous. of dolls.. Silver: Production thous. of fine oz Imports thous of dolls. . Exports thous. of dolls.. Price at New York dolls, perfineo z _ _ Price at London.. .pence per standard oz_. 143, 224 2,939 142, 339 2, 986 1913 1913 194 26 196 27 196 26 197 26 +0.7 +0.9 +0.6 -1.6 92, 552 1,490 26.81 97, 135 1,542 1913 1913 1913 237 100 40 234 101 43 229 223 103 97 51 52 -2.3 +5.5 +2.3 -4.7 -3.4 +19.7 345, 451 296, 738 1913 1913 520 262 558 265 642 337 +1.1 +6.6 +16.4 +35.5 -8.2 +3.6 -78.6 3,740 22.39 2,760 87,030 824 5,038 73, 526 80, 294 754 3,603 50, 600 5,509 7,339 11,385 .682 32. 197 5,077 4,929 6,833 .685 32. 245 6,661 7,917 .678 31. 935 .640 33. 483 4.78 .054 .042 .051 .404 .270 .193 4.77 .053 .041 .051 .402 .270 .193 4.78 .052 .041 0.51 .399 .270 .193 4.29 .047 .043 .039 .371 .263 .173 .385 .357 3.91 .357 .410 .357 .429 .299 .997 .911 .117 .114 .999 .903 .113 1.08 .999 .897 .110 .111 75, 584 825 7,337 25, 104 5,236 ! 649 359 82, 334 796 34, 322 817 246, 362 2,353 114, 569 1,603 242,908 2,403 15, 978 149, 230 -1.4 +2.1 -86.1 1913 1913 1913 1913 61 104 661 56 109 646 11 -5.9 54 51 +9.4 103 113 68 138 +103. 6 661 328 -50.4 5,535 16,111 20, 101 25, 441 15, 822 18, 929 26, 135 -1.8 -5.8 +2.7 1913 1913 1913 1913 1913 106 264 170 108 122 99 208 160 107 121 91 94 165 223 131 151 115 113 117 116 Par Par Par Par Par j Par. Par 89 23 23 20 93 98 90 88 24 22 20 92 98 90 98 27 21 26 100 101 100 Par Par 91 62 86 61 78 73 6,221 8,355 +3 1 +35.1 +15.9 -1.0 -1.0 -5.4 +7.1 -5.2 +5.9 -4.6 98 27 21 26 99 101 100 +0.2 -1.9 0.0 0.0 -0.7 0.0 0.0 +11.4 +10.6 -4.7 +30.8 +7.5 +2.7 +11.6 82 73 +4.9 0.0 -4.4 +19.4 FOREIGN EXCHANGE BATES Europe: England dolls, per £ sterling-France dolls, per franc Italy dolls, per lire-Belgium dolls, per franc.. Netherlands dolls, per guilder.. Sweden dolls, per krone-Switzerland dolls, per franc.. Asia: Japan dolls, per yen India _ dolls, per rupee.. Americas: Canada dolls, per Canadian doll-Argentine dolls, per gold peso.. Brazil dolls, per milreis. Chile dolls, per paper peso.. General index foreign exch index number. _ 0.0 Par 97 100 100 +3.0 97 -0.7 +17.1 94 93 79 ' Par 79 -2.7 Par 35 -4.3 35 34 37 +2.8 +13.3 Par 50 52 55 57 -1.6 it -8. 6 Par... 58 58 64 63 * Quarter ending Dec. 31,1924. Relatives indicated for February and percentage comparisons with that month refer to quarter ending the previous December. .970 .766 .115 .098 48 TREND OF BUSINESS MOVEMENTS—Continued BASE YEAR OR PERIOD ; 1925 Per ct. increase (-f) or decrease (-) cumulative 1925 from 1924 NUMERICAL DATA In many cases April figures are now available and may be found in the special table on page 25 1935 January February March March, 1924 CUMULATIVE TOTAL j FROM JANUARY 1 THROUGH LATEST ; MONTH 1924 Per cent increase (+) or decrease (— ) RELATIVE NUMBERS 1924 1925 I March Mar., 1925, from from Febru- Mar., Feb. Mar. • Feb. Mar. ary 1924 U. S. FOREIGN TRADE Imports Grand total tlious. of dolls By grand divisions: EuropeTotal thous. of dolls Franco thous. of dolls Germany thous. of dolls Italy thous. of dolls United Kingdom . _thous. of dolls North AmericaTotal thous of dolls Canada thous. of dolls South AmericaTotal thous. of dolls Argentina - -thous. of dolls Asia and OceaniaTotal thous. of dolls Japan.. thous. of dolls.. \frica, total thous. of dolls By class of commodities: Crude materials thous. of dolls.. Foodstuffs, c r u d e , and food animals thous. of dolls Manufactured foodstuffs.. thous. of dolls. _ Semimanufactures _. thous. of dolls Finished manufactures thous. of dolls. _ Miscellaneous _. thous. of dolls 346, 184 333, 720 385, 488 320, 482 I 948, 311 1, 065, 392 +12.3 1913 222 215 102, 806 13, 924 11, 402 8,463 35, 178 100, 968 14, 880 12, 077 8,262 33, 893 112,097 14, 153 13, 0809 9 ol 40', 151 85, 205 13, 250 9,483 5,402 28, 460 271, 929 37, 580 33, 435 16, 973 93, 798 315, 871 42, 957 36, 559 26, 237 109, 222 +16.2 +14.3 +9.3 +54.6 +16.4 1913 1913 1913 1913 1913 137 117 83 121 152 118 140 156 114 ! 129 122 62 79 85 ' 117 ! 179 206 : 126 | 150 177 | 77, 546 32, 950 83, 219 33, 651 91, 297 34, 444 113,863 35, 750 287, 766 100, 523 252, 062 101, 045 -12.4 +0.5 1913 1913 304 277 351 302 256 284 42, 253 6,523 44, 053 10, 212 58, 451 8,584 44, 940 11,359 115, 298 21, 466 144, 757 25, 319 +25.6 +17.9 1913 1913 220 282 272 533 112,928 33, 284 10, 651 91,072 23, 181 13, 044 113,397 28, 291 10, 245 66, 595 16,113 9,880 241,712 77, 053 28, 955 317, 397 I +31.3 84, 756 ! +10.0 33, 940 1 +17.2 1913 1913 1913 351 317 374 147, 597 128, 603 142, 211 102, 169 324, 775 418, 411 +28.8 1913 38, 066 32, 336 63, 104 62, 313 2,268 36, 778 39, 776 63, 649 62, 848 2,066 50, 157 46, 848 75, 943 67, 913 2,415 34, 464 67, 294 56, 174 58, 870 1,511 97, 569 164, 238 180, 852 174, 384 6,493 125, 001 i +28.1 118, 960 -27.6 202, 696 : +12.1 193, 074 +10.7 6,749 +3.9 1913 1913 1913 1913 1913 446, 577 370, 740 453, 434 339, 755 ! 1,100,709 +15.4 269, 415 29, 210 49, 615 22, 668 113, 136 222, 262 22, 855 43, 785 23, 061 85, 757 251, 823 25, 690 51, 386 26, 063 84, 999 169, 352 21, 879 36, 057 13, 127 57, 005 572, 766 65, 020 126, 111 45, 874 216, 022 77, 948 37, 063 75, 125 39, 122 100, 297 51, 179 86, 170 49, 230 31, 745 12, 893 25, 463 9,939 33, 548 12, 212 60, 885 27, 875 6,584 440, 438 57, 742 15, 803 5,330 364, 835 168, 194 25, 873 54, 044 58, 271 133, 059 997 223 258 + 15.5 +20.3 +11.0 -4.9 +8.3 +15. 1 +18.5 +31.6 +6.8 +37.9 +76.1 +41.1 281 291 +9.7 +2.4 -19.8 -3.7 267 282 354 403 +32.7 -15.9 +30.1 -24.4 253 195 499 346 281 659 430 : +24.5 343 +22.0 518 -21.5 +70. 3 +75.6 +3.7 230 202 255 282 i +10.6 +39.2 166 356 235 168 190 187 1 200 407 241 198 I 224 171 i 183 122 167 272 +36.4 +45.5 284 +17.8 -30.4 268 +19.3 +35.2 197 i +8.1 + 15.4 196 i +16.9 +59.8 1913 177 164 179 219 : +22.3 +33.5 743, 500 ! +29.8 77, 755 +19.6 144, 786 +14.8 71, 792 +56.5 283, 892 +31.4 1913 1913 1913 1913 1913 161 156 167 242 151 136 171 123 200 116 178 178 149 352 174 202 i +13.3 200 +12.4 175 +17.4 398 +13.0 173 -0.9 +48.7 +17.4 +42.5 +98.5 +49.1 238, 117 134, 995 253, 370 127, 364 +6.4 -5.7 1913 1913 154 134 172 147 150 116 200 152 +33.5 +30.8 +16.4 +4.0 23, 217 8,295 71, 544 25, 982 90, 756 35, 044 +26.9 +34.9 1913 1913 200 190 190 181 209 217 275 +31.8 267 j +22.9 +44.5 +47.2 58, 961 21, 388 8,805 445, 533 56, 635 21, 629 4,381 331, 655 186, 228 90, 103 16, 871 1, 078, 923 177, 588 65, 066 20, 719 1, 250, 806 -4.6 -27.8 +22.8 +15.9 1913 1913 1913 1913 246 400 226 176 327 333 415 303 182 i 221 163 179 128, 697 121, 690 85, 609 332, 168 418, 581 +26.0 1913 178 134 201 190 23, 554 46, 277 47, 777 117, 894 636 31, 102 55, 597 64, 543 171, 553 1,048 14, 976 49, 782 50, 060 130, 602 626 42, 711 161, 422 155, Oil 385, 143 1,958 80, 529 155, 918 170, 591 422, 506 2,681 +88.5 -3.4 +10.1 +9.7 +36.9 1913 1913 1913 1913 1913 99 194 152 195 103 106 184 151 201 93 167 171 144 181 94 220 206 195 263 155 +32.0 +107. 7 +20.1 +11.7 +35.1 +28.9 +45.5 +31.4 +64.8 +67.4 " 09-14 105 95 114 123 + 7.9 +29.5 " 09-14 157 160 120 150 j +25.0 -6.2 -5.2 +4.6 1913 1913 111 217 155 298 110 226 151 305 +37.7 +34.7 -2.7 +2.4 21, 748 +22.8 10, 205 +116.8 14, 672 -60.9 ! 122 -39.6 171 -17.0 3,584 -3.6 1913 1913 1913 259 12 140 451 7 160 272 29 49 367 +34.9 -18.7 22 -25.6 +205. 8 53 | +6.7 -67.1 1913 1913 1913 71 82 159 93 108 147 36 43 138 76 +113.3 124 +191.9 149 +7.7 -17.9 +14.9 +0.8 -28.9 -6.1 Exports Grand total, including reexports thous. of dolls By grand divisions: Europe— Total .thous. of dolls France _ thous. of dolls Germany thous. of dolls . _ Italy thous. of dolls United Kingdom thous. of dolls North AmericaTotal thous. of dolls Canada thous. of dolls South AmericaTotal thous. of dolls.. Argentina thous of dolls _ Asia and OceaniaTotal thous. of dolls Japan. . thous. of dolls Africa, total thous. of dolls Total, domestic exports only. .thous. of dolls.. By classes of commodities: Crude materials thous. of dolls Foodstuffs, crude, and food animals thous. of dolls _ _ Manufactured foodstuffs. -thous. of dolls.. Semimanufactures . thous. of dolls Finished manufactures thous. of dolls.. Miscellaneous thous. of dolls Agricultural exports (quantities) : * All commodities . _ .index number All commodities except cotton index number _ 1, 270, 751 340 411 365 218 +2.1 +4.1 -1.1 +35.3 +65.2 +101.0 +22.1 +34.3 -5.4 +42.1 CANADIAN TRADE AND INDUSTRY Total trade: Imports thous. of dolls 58, 376 Exports thous. of dolls 75, 999 Exports of key commodities (quantities) : Canned salmon -thous. of pounds 10, 525 Cheese. thous. of pounds 3,581 Wheat ..thous. of bush 6,103 Production: Pig iron thous. of long tons 28 Steel ingots. thous. of long tons 26 Bank clearings ..mills, of dolls 1,364 Business failures: Liabilities thous. of dolls 5,058 Firms number 284 Bond issues: Govt. and provincial thous. of dolls. 4,000 Municipal ... thous. of dolls 5,484 Corporation thous. of dolls 35, 460 Newsprint paper: Production short tons _ . 121, 420 122, 049 Shipments short tons Stocks short tons 20, 989 Exports (total printing).. short tons 104, 654 Building contracts awarded... thous. of dolls.. 8, 935 61, 430 71, 164 84, 608 95, 888 86, 954 93, 615 215, 656 232, 302 4,777 3,798 4,146 6,446 2,826 4,423 7,927 924 13, 446 17, 704 4,707 37, 538 30 37 1,069 64 108 1,151 78 94 1,142 202 206 3,717 2,602 185 3,392 199 4,769 212 18, 593 743 11, 052 668 -40.6 -10.1 1913 1913 443 163 344 139 187 122 244 131 +30.4 +7.6 39, 406 2,601 36, 175 4,588 14, 560 8,500 2,218 5,221 | 18, 800 29, 198 68, 781 43, 406 +130. 9 12, 673 -56.6 86, 195 +25.3 1913 1913 1913 45 56 211 192 23 85 891 27 586 48 236 +76.4 +106. 9 -59.8 +178. 9 115, 624 116, 595 20, 114 103, 857 11, 048 126, 267 124, 426 21, 892 144,411 13, 393 113, 192 ! 111,916 1 19, 388 127, 583 11, 584 336, 039 331, 091 363, 311 363, 070 320, 912 39, 371 352, 922 +10. 0 i 33,376 |! -15.2 ! 1919 1919 1919 1919 1913 167 163 144 180 66 168 165 154 231 36 172 172 160 188 35 188 183 174 262 42 +9.2 +6.7 +8.8 +39.0 +21.2 *14 See text on p. 29. Period July, 1909-June, 1914, inclusive. O 204, 414 243, 051 +8.1 +9.7 +11.6 +11.2 +12.9 +13.2 +15.6 PUBLICATIONS OF THE DEPARTMENT OF COMMERCE Recent publications of the Department of Commerce having the most direct interest to readers of the SURVEY OP CUBBBNT BUSINESS are listed below. A complete list may be obtained by addressing the Division of Publications, Department of Commerce, at Washington. Copies of the publications may be purchased from the Superintendent of Documents, Government Printing Office, Washington, at the prices stated. If no price is mentioned, the publication is distributed free, OFFICE OF THE SECRETARY Simplified Practice Recommendations: No. 26. Steel reinforcing bars. Price, 5£. No. 27. Cotton duck (sail and wide). Price, 5$. No. 31. Loaded paper shot shells. Price 5£. No. 35. $teel lockers (single and double tier). Price 5£. BUREAU OF THE CENSUS (For circulars giving plan of publication and distribution of census publications, address the Director of the Census) Marriage and divorce, 1923.—61 pages, price 10£. This is .the second of a series of annual reports issued by this bureau concerning marriage, and divorce. It shows the total number of marriages,during that year and gives statistics concerning divorce distributed by causes. , _ Pulpwood Consumption and Woodpulp Production, Forest ^oducts Series, 1923.—16 pages, price, 50. This is one of a series of annual .bulletins concerning forest products issued by the Bureau of the, Census in copperation with the Forest Service of the Department of Agriculture. State Cotnpendiums, 1920.-—Utah, 111 pages, 9 illustrations, price, 25^j Vermont, 77 pages, 7 Illustrations, price, 20$; West Virginia, 109 pages, 7 illustrations, pride, 25£; and Wisconsin, 167 pages, 8 illustrations, price, 35$. Each compendium contains detailed statistics of population, agriculture, manufactures, and mining for the State named. A summary for the United States is also given, with & map showing the centers of population, agricultural products, and manufactures. BUREAU OF FOREIGN AND DOMESTIC COMMERCE Monthly Summary of Foreign Commerce of the United States, February, 1925.—Parts I and II. Part I contains statistics of exports of domestic merchandise and imports by articles for February, 1924 and 1925, and for the eight months ended February, 1924 and 1925. Parl II contains summaries of export and import trade; monthly average import and export prices; statistics of trade in cottoii and wool; tonnage of vessels entered and cleared; commerce with Alaska, Porto Rico, and Hawaii. Price for single number, Part I, 10$; Part II, 5£. Anmial subscription* including Parts I and II, $1.25. Government Aid to Merchant Shipping, by Grosvenot M. Jones, with comment by the Transportation Division on changes since 1913, Special Agents Series No. 119 (revised edition); 470 pages. Part I is merely a'reprint of the original report issued in 1916. Part II is a review of changes which have taken place during and since the World War, with particular reference to the methods by which nations have adapted to these new conditions their policies concerning merchant ships. Price, 500. International Trade in Wheat and Wheat Flour, by J. A, LeClerc. Trade Promotion Series No. 10;,,290 pages. The basic facts .underlying the world's trade in wheat and wheat flour form the material of this report. The statistical information has been organized into 128 tables, and various aspects of production and trade are shown by, means of the 51 charts included. Price, 40£. , International Trade in Cotton, by Leslie A. Wheeler. Trade Promotion Series No. 13; 100 pages. This study deals with the exportation and importation of unmanufactured cotton for all countries in which such trade is significant. The text is supplemented by means of 69 tables and 10 charts. Price* 150. World Trade in Canned Salmon, by Kupert L. Purdon. Trade Promotion Series No. 14; 48 pages. The canned-salmon industry is the most important branch of our fish industries* The world survey shows the status of the United States salmon trade as compared with that of competing countries—Canada^ Japan, and the United Kingdom. The report contains 13 tables, 1 map, and 20 charts. Price, 15£. Caribbean Markets for American Goods: I. Central America, by Hector Lazo. Trade Information Bulletin No. 329; 16 pages. In this bulletin is presented an analysis of Central America as a purchaser of united States goods. A suggested salesman's route ^through Central America is included. Price, 10#. Foreign Trade of the United States, Calendar Year, 1924, prepared in the Division of Statistical Research. Trade Information Bulletin No. 332; 91 pages. This is the third of a series of annual bulletins summarizing the trade of the United Stated. The report contains 44 tables and 44 charts. Price, 10£. Marketing of American Meat Products in Export, Trads, by J. E. Wj-enn. Trade Information Bulletin No. 333; 60 pages. The methods employed in the sale of meat and meat products abroad are discussed in this bulletin, which is the fourteenth of a series on world trade in agricultural products. Price, 100. Uniform Through Export Bill of Lading, by W. R. Long. Trade Information Bulletin No. 335; 43 pages. This discussion of the uniform through export bill of lading prescribed by the Interstate Commerce Commission presents the views Of various shipping factors concerning the value of this type of .shipping document. ' Price, 10£. , BUREAU OF STANDARDS Report of the National Screw Thread Commission (revised, 1924). This is the first revision of the progress report of the commission's report published in 1921. Each class of product is discussed, in a separate section of the publication, which contains 172 pages, with 90 tables, 43 illustrations, 5.appendixes, and index. Price, 25^. A Method of Determining the Dew Points of Fuel-Air Mixtures, by Roy J. Kennedy. Scientific Paper No. 500; 17 pages; 10 charts. Price, 10^. Comparative Wearing Qualities of Pi ma and Ordinary Cotton Used in Mail Bags, by F. R. McGowan, Charles W. Sehoffstall, and A. A. Mercier. Technologic Paper No. 277; 11 pages; 3 tables; 3 charts; 2 halftones. Pride, 10$. Effect of Twist on Physical Properties of a Number 7s Yarn, by F. R., McGowan, Charles W. Sehoffstall, ana A. A. Mercier. Technologic Paper No. 278; 11 pages; 1 table; 9 charts; 2 halftones. Price, 10$. Testing Fire-Clay Brick with Special Reference to Their Use in Coal-Fired Boiler Settings, by F. R. Geller. Technologic Paper No. 279; 43 pages; 12 tables; 19 illustrations. Price, Reclamation of Gasoline Used in Dry Cleaning, by G. C. Hubbard. Technologic £aper No. 280; 13 pages; 3 illustrations. Price, 5^. , Specifications for Hand-Operated Grain Hopper Scales.— Circular No. 199; 19 pages; 4 tables. Price, 10£. BUREAU 0^ FISHERIES Fishery Industries of the United States, 1923, by Oscar E. Sette. Document No. 976; 319 pages. The report deals with technologic investigations of the Bureau of Fisheries, the»fishcanning industry of the United States, and statistics of the fishing industry and of products landed. Price, 25£. BUREAU OF NAVIGATION Measurement of Vessels.—Fourth edition; 133 pages; 52 diagrams. The report contains regulations interpreting laws relating to the measurement of vessels, together with the laws of the United States, the Suez Canal regulations, and the Panama Canal rules. Price, 20$. ' Radio Serviqe Bulletin, April 1, 1925.—Serial No. 96. Contains list of new stations, changes in preceding lists, and information concerning radib, regulations, current publications, and other matter, Single copy, 5$; annual subscription, 250. NOTB.—All orders for radio publications listed by the Bureau, of Navigation and all inquiries .concerning tbese publications should be addressed to the Superintendent of Documents, Government Printing Office, Washington, D. O^ Bo not make remittances to the Bureau of Navigation or to radio inspectors. LIGHTHOUSE SERVICE Light List, Pacific Coast of the United States, 1925.—Corrected to January 1. Price, 3Q£. A Guide to Good Packing THE LOSS of millions of dollars each year through careless or injudicious packing— which invites pilferage and results in breakage or other destruction—is a tax on industry which all those sharing in the distributive process should join forces to eliminate. The Best ^Packing Methods in American industry are described in PACKING FOR FOREIGN MARKETS, which summarizes the results of an , exhaustive nation-wide investigation covering all phases of the packing problem, supplemented by technical studies and scientific tests of container construction conducted by the Forest Products Laboratory, Madison, Wisconsin. While designed especially for general use in export trade, the fundamental principles disclosed by these studies can be applied with almost equal effectiveness to the needs of domestic shippers. Chapters devoted to particular problems of the leading commodity groups—machinery, agricultural implements, automotive products, leather goods, chemical and allied products, iron and steel, foodstuffs, tobacco, textiles, paper products, and rubber goods. Consideration of climate, customs regulations, loading and unloading facilities, and conditions of interior transportation. In all—440 pages—the most complete and thorough analysis of our export packing problem ever published. PACKING FOR FOREIGN MARKETS OBTAINABLE ^i o e FROM THE SUPERINTENDENT OF DOCUMENTS FOR 3>i.Z,3 Gwernment Printing Office - WASHINGTON, D, C Cooperate in cutting down the marginal waste in America's export trade Tell your friends about this guide to good packing
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