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SURVEY OF CURRENT BUSINESS WEEKLY SUPPLEMENT UNITED STATES DEPARTMENT OF COMMERCE BUREAU OF FOREIGN AND DOMESTIC COMMERCE WASHINGTON, D. C., AUGUST 3, 1939 SUMMARY OF BUSINESS TRENDS f~\ UTSTANDING among recent business developments has " been the rise in steel-mill operations. Ingot production at the current rate of 60 percent of capacity is up 7 points from the June average. The trade reviews report that current operations are, to an important extent, based on active shipments to the construction industry and miscellaneous outlets. However, as the automobile industry is expected to enlarge its requirements substantially this month there has been some advance production of ingots to meet these demands. While the contraseasonal rise in steel output has been the major factor in raising the seasonally corrected rate of industrial activity above the June level, other-industries have operated at better-than-seasonal rates. Automobile production, however, declined from 324,000 units in June to about 195,000 cars and trucks for July as a result of the earlier than usual changeover to new models. * Weekly data thus far available for July indicate that freight carloadings and output of electric power and bituminous coal were above the seasonally adjusted rates in June. Retail trade volumes have experienced the usual summer letup but are well ahead of last year. Retailers have enlarged their commitments for the fall trade and purchasing policies are gen- erally less hesitant than those which prevailed during a considerable part of the second quarter. Forward purchases of copper reached an exceptionally large total in July and other raw materials have been purchased more freely. Raw materials prices on the average have changed but little in recent months. Moody's index of 15 important commodities at the end of July was lower than a year ago. Corporation profits in the second quarter were sharply higher than in the comparable period of 1938 according to the reports now available. For a representative group of industrial concerns, aggregate earnings were almost three-fourths larger than in the second quarter of 1938. Earnings of these industrial corporations averaged somewhat lower on a seasonally adjusted basis than in the first quarter of this year. A group of 14 steel companies showed net returns of $11,000,000 as compared with a deficit of $9,000,000 in the second quarter of last year. Wide gains over a year ago were reported by leading automobile companies and a variety of other manufacturing concerns. Profits of petroleum companies increased over the first quarter but were smaller than a year ago when earnings of these companies had been relatively well sustained. SELECTED BUSINESS INDICATORS STEEL INGOT PRODUCTION (PERCENT SPOT COMMODITY ELECTRIC POWER PRODUCTION OF CAPACITY) PRICES INDEX- DEC. 31, 1931- 1 0 0 ) (BILLIONS OF KILOWATT HOURS) lib 200 175 \ i^n "S^T . . . . . 125 BITUMINOUS COAL (MILLIONS Of PRODUCTION SHORT PRICES OF 3 5 0 INDUSTRIAL STOCKS CONSTRUCTION CONTRACTS - E W . DODGE TONS) (INDEX, 1926' 100) (DAjLY AVERAGE AWARDS-MILLIONS Of DOLLARS) 160 AUTOMOBILE PRODUCTION (THOUSANDS (PERCENT) (THOUSANDS OF CARS) INCOME PAYMENTS FACTORY EMPLOYMENT a PAYROLLS (1923-25-100) INDUSTRIAL PRODUCTION (SEASONALLY ADJUSTED I 9 Z 9 - I 0 0 ) 100 95 YIELDS OF 120 CORPORATE BONDS FREIGHT CAR LOADINGS OF VEHICLES) (SEASONALLY 130 MONTHLY OVA ADJUSTED 1 9 2 3 " Z5 = 1 0 0 ) MOfiTHir DATA 120 90 MO 85 100 80 90 75 70 80 7 70 1937 166443-30 1938 1939 1937 1938 1939 60 1937 1938 1939 WEEKLY BUSINESS INDICATORS [Weekly average, 1923-25-100] 1938 1939 1939 1937 Commodity prices, wholesale: Dept. of Labor, 1926=100: Combined index (813) Farm products (67) -. Food (122) All other (624) Fisher's index, 1926=100: Combined index (120) , Copper, electrolytic! Cotton, middling, spot Finance—Continued. Banking: Debits, outside N. Y. 0 4 — Federal Reserve reporting member banks: Loans, total Interest rates: Call loans*. Time loansj. ^ Currency in circulationt.-— Production: Automobiles-Bituminous coalt Cotton consumption^ Electric powert Lumber-.. Petroleum* Steel ingots© Receipts, primary markets: Cattle and calves Eogs Cotton. Wheat 90.3 91.0 85.8 90.3 81.7 81.1 107.7 107.0 94.4 75.2 74.2 110.8 108.6 93.6 92.4 100.2 99.4 100.7 101.5 84.0 82.8 120.8 121.2 75.2 62.2 67.5 80.4 75.5 63.3 67.6 80.4 75.5 62.9 67.4 80.5 75.6 64-1 68.1 80.3 78.6 63.6 74.1 81.6 78.7 69.3 74.3 81.6 87.5 87.7 86.5 86.2 87.5 88.4 86.0 86.3 78.6 78.5 78.7 79.2 78.8 81.6 81.5 92.3 92.3 72.5 72.5 71.7 71.0 71.0 70.3 68.8 100.0 100.0 35.3 34.6 36.0 36.8 35.7 32.0 32,4 41.2 43.4 70.9 Construction contractstDistribution: Carloadings 68.5 70.3 71.0 Employment: Detroit, factory.._ Finance: 55.8 49.1 52.1 Failures, commercial __ 62.9 63.3 63.6 Bond yieldst —_ 105.6 105.1 100.3 Stock prices! 1937 July July July July July July July July July 30 23 31 24 15 29 22 July July July July July July July July July 24 29 22 23 31 Business activity :1 New York Times§cf _ Barron'se?— Business Week 1933 103.3 78.7 54.0 89.6 61.8 58.3 69.4 61.4 60.6 81.3 80.0 83.5 86.7 47.8 39.8 57.2 56.3 52.8 40.3 38.3 64.3 64.3 71.2 71.9 67.1 67.1 93.3 97.4 103.4 103.9 13G.8137.2 86.8 91.1 89.0106.9 94.2 75.5 88.4 90.7 100.5 65.6 64.9 65.1 65.1 64.7 65.3 65.7 78.3 77.9 24.2 212 24.2 24.2 24.2 24.2 24.2 24.2 24.2 23.6 28.6 28.6 28.6 28.6 28.6 28.6 28.6 28.6 144.6 144.7 145.3 146.1 144.3 132.5 132.6 132.7 132.8 53.2 62.2 80.8 56.1 92.6 41.8 45.3 113.2 115.4 69.9 69.9 70.1 65.9 57.7 57.0 76.5 72.2 121.7 137.9139.5 54.4 47.2 172,1169.5 85.4 104.1 91.9 116.2 110.2 112.1 127.7 124.7 138.1 125.7 125.2 135.4 35.3 42.6 5a 8 44.2 66.7 .69.5 166.3 166.3 159.2 160.8 172,4 169.5 66.1 93.3 62.fi 61.4 138.5 131.3 135.6 61.8 171.7 135.6 70.7 70.7 50.4 60.7 72.1 73.9 78.3 39.0 40.6 31.5 36.2 37.5 34.2 22.4 28.8 31.2 34.6 26.5 36.2 148.6 296.8 414.5 327.9 23a 4 235.3 285.2 312.2 62.3 24.2 22.7 43.8 45.0 323.8 • D a t a do not cover calendar weeks in all cases. 5 Computed normal=100. JDaily average, tWeekly average, 1923*30=100. tSeasonally adjusted. ©Index for week ended Aug. 1 is 101.9. d*For description of these Indexes, see p . 4 of the Dec. 16,1937, issue. WEEKLY BUSINESS STATISTICS • 1938 1930 COMMODITY PRICES, WHOLESALE Copper, electrolytic, New Yorkt_. dol. per lb__ Cotton, middling, spot, New York do Food index (BraastreeVs) _ do Iron and steel, composite dol. per t o n . . Wheat, No. 2 hard winter (Kansas City)-.dol. per bu_. Banking: FINANCE Debits, New York City _ mil. of dolDebits, outside New York City (140 cities) do..Federal Reserve banks: Reserve bank credit, t o t a l — . do U. S. Government securities. do Member bank reserve balances do Excess reserves, estimated do Federal Reserve reporting member banks: Deposits, demand, adjusted do Deposits, time .. do Investments, total§ do IT. S. Government direct obligations do.... Obligations fully guaranteed by U. 8. Government _ _ mil. of dol— Loans, totalj. — .do Commercial, industrial, and agricultural loans§ mil. of dolInterest rates, call loanst_. percentInterest rates, time loanst — do—. Exchange rates: French franpt .. cents.. Found sterling^ „ dollars.. Failures, commercial number— Currency in circulation^ mil. of dol— Security markets: Bond sales (N. Y. S. EJ) .thous. of dol. par value.. Bond yields (Moody's) (120 bonds) t percentStock sales (N. Y. S. #.) .thous. of sharesStock prices (JV. Y. Time,t)t dol. per share.. Stock prices (Standard Statistics) (420) 1926 =* 100Industrials (350) do. Public utilities (40). do. Railroads (30) do. PBODUCTION, CONSTBUCTION, AND DISTRIBUTION Production: Automobiles! ..numberBituminous coalt —thous. of short tons— Electric power—_ mil.ofkw.hr Petroleumtthous. of bbl__ Steel ingots®... pet. of capacity.. Construction-contract awardst thous. of dolDistribution: Freight-car loadings, total _ cars— Coal and coke _ do Forest products do._I. Groins and grain products I do"II Livestock _ do Merchandise, I. c. I do Ore.. _ do" Miscellaneous do Receipts: Cattle and calves thousands Hogs ; _ do Cotton into sight ...thous. of balesl. wheat, at primary markets.. thous. of bu July 29 July 22 July 15 July 8 Julyl June 24 0.100 .096 2.14 35.85 0.100 .094 2.14 35.86 .65 0.099 .098 2.16 35.85 .65 0.09S .100 2.17 35.81 0.098 .097 2.18 35.72 .70 .100 2.18 35.72 0.097 .087 2.47 36.43 3,296 3,977 2,745 4,224 2,872 4,127 3,406 4,129 3,392 4,366 3,425 4,438 2,512 2,488 10,436 4,485 2,537 2,515 10,412 4,485 2,535 10,350 4,447 2,569 2,551 10,151 4,292 2,567 2,551 10,116 4,243 17,601 5,237 13,941 8,514 2,168 8,194 17,387 5,223 £3,909 8,505 17,368 ' 5,224 13,892 8,493 17,109 5,229 13,858 8,485 2,159 8,116 2,153 8,131 3,899 1.00 1.25 3,893 1.00 1.25 2.C49 4.681 227 7,020 July 30 1937 July 23 1936 July 31 July 24 0.095 .088 2.46 3d. 30 .70 0.138 .112 2.88 40.27 1.17 0.138 .118 2.88 40.11 1.22 0.095 .129 2.77 33.72 1.17 2,871 3,503 3,431 4,096 3,536 4,207 4,660 3,099 3,846 2,584 2,564 10,099 4,227 2,583 2,564 8,188 3,036 2,585 2,564 8,202 2,560 2,526 6,776 813 2,564 2,526 6,858 874 2,461 2,430 6,016 3,049 17,220 5,237 13,862 8,423 17,238 5,238 13,851 8,404 15,160 5,200 12,395 7,659 15,127 5,208 12,410 7,696 15,033 5,268 12,499 8,283 15,018 5,251 12,473 8,240 14,850 5,015 14,084 9,456 2,150 8,142 2,148 2,127 8,072 1,640 8,161 1,622 8,208 1,188 9,784 1,195 9,740 1,272 8,294 3,887 1.00 1.25 3,872 LOO 1.25 3,833 1.00 1.25 3,823 1.00 1.25 1.00 1.25 3,878 1.00 1.25 4,425 1.00 1.25 4,426 1.00 1.25 1.00 1.25 2.649 4.682 200 7,029 Z 649 4.682 212 7,054 2.649 4.681 162 7,096 2.649 4.681 233 7,005 2.649 4.681 264 6,943 2.762 4.920 229 6,436 2.761 4.920 215 6,439 3.746 4.977 164 6,445 3,745 4.977 156 6,448 6,602 5.017 181 6,147 27,350 3.63 944 102.59 8y.9 104.9 88.5 27.4 36,710 3.65 1,256 102.06 88.8 104.1 86.1 26.8 27,860 3.67 3,317 97.38 85.7 100.0 85.3 25.4 17,840 3.71 1,442 95.42 83.3 97.3 82.9 24.7 28,970 3.71 3,125 94.63 82.8 96.7 81.9 24.4 27,040 3.71 2,412 97.22 85.7 100.2 84.4 25.4 40,000 4.11 7,961 100.37 88.9 106.9 75.5 27.9 50,230 4.15 10,819 100.89 90.7 108.6 77.8 29.4 32,870 3.87 4,117 132.85 120.3 142.2 99.8 51.9 38,380 3.87 5,501 133.27 120.7 143.0 97.8 53.1 66,550 40,595 47,420 1,191 2,295 61,610 1,190 2,324 3,530 49.7 11,384 42,784 1,194 2,078 3,530 38.5 70,663 1,123 2,300 3,463 54.3 16,592 81,070 1,083 2,285 3,453 55.0 31, $90 983 2,094 3,316 37.0 12,643 34,570 970 2,085 3.349 36.4 8,665 86,403 1,302 2,256 3,592 84.3 14,392 88,055 1,229 2,259 3,576 82.5 9,919 97,755 1,242 2,079 559,109 665,528 tf 5,232 114,738 22,030 32,988 53,456 51,484 9,422 10,415 127,662 153,461 36,423 44,102 214,884 258,340 642,987 106,813 30,552 46,992 10,272 151,850 41,417 255,091 588,703 104,152 27,875 50,711 10,828 147,924 23,082 224,131 580,818 97,4fi2 26,764 53,341 11,201 146.219 22,105 223,726 779,091 128,823 42,526 51,255 11,269 166,975 73,679 304,564 767,470 119,228 41,744 51,239 9,382 165,811 77,487 302,579 182 223 243 90 18.717 234 222 69 22,691 24S 145 94 24,839 197 157 59 25,760 747,529 133,513 35,725 50,964 15,423 163,953 53,558 294,388 318 278 70 13,991 3,584 60.6 114 11,819 56.4 656,341 117,535 32,521 46,632 11,524 152,109 42,617 253,403 673,812 116,813 31,426 59,265 11,845 150,483 44,877 259,098 223 253 117 23,610 223 253 86 32,976 159 205 75 26,084 192 235 81 18,332 13.313 Aug.l 3.88 9,286 133.67 113.3 128.9 109.3 63.7 2,948 71.5 10,965 «TM« T * ® p a t e for week ended A u g 1 is 59.3. I D a i l y average. * D a t a d o n o t cover calendar weeks in all cases. SNo longer strictly comparable; for a n explanation, see t h e corresponding d a t a on p . 30 of t h e April 1939 issue of t h e Survey, ISource: W a r d s ' A u t o m o t i v e R e p o r t s . MONTHLY BUSINESS STATISTICS Monthly statistics through December 1937, together with explanatory notes and references to the sources of the data, may be found in the 1938 Supplement to the Survey COMMODITY PRICES Page 15 Purchasing power of the dollar: Wholesale prices 1923-25=100__ Retail food prices __ _ __do Prices received by fanners __. do_ Cost of living. _ do. 1939 June 132.3 131.1 165.3 120.0 1938 June 128.6 124.7 159.7 117.2 DOMESTIC TRADE Pages 26,27 Advertising: Newspaper advertising: Lineage, total (52 cities) thous. of lines.. 105,086 98,519 Classified do 21,785 21,331 Display, total do 83,301 77,188 Automotive do— 5,345 4,340 Financial do 1,663 1,556 General do 17,408 16,253 Retail d o . . . . 58,886 55,039 Postal business: Money orders: Domestic, issued (50 cities): 4,170 3,956 Number __ thousands.. - Value..---------_-—.._--__-..-thous. of dol— 38,165 37,450 Domestic, paid (50 cities): Number thousands.. 13,918 13,366 Value thous. of dol.. 101,345 100,250 Retail trade: Value of automobiles: New passenger automobile sales: 100.9 65.0 Unadjusted . . . . 1929-31=100.. 50.5 78.5 Adjusted do.— Chain-store sales: Grocery chain-store sales: 102.9 Unadjusted do 101.4 Adjusted _ do.... July 1939 DecemAugust Septem- October November ber 128.6 127.1 154.8 118.3 anuary February March 130.8 127.2 153.1 118.5 130.9 129.0 156.5 119.0 130.9 130.2 159.7 119.5 131.3 130.9 161.6 119.8 113,558 113,457 118,096 22,411 20,233 20,372 91,147 93,314 97,723 3,581 1,449 1,732 1,574 18,411 18,749 14,028 66,073 66,509 78,540 87,418 19,556 67,861 2,446 2,301 12,771 50,343 86,651 111,815 111,160 112,377 18,318 22,147 22,824 22,692 88,335 89,685 6,055 4,768 3,458 6,075 2,105 1,695 1,403 1,615 14,024 17,414 17,655 18,538 49,448 65,792 62,520 63,456 129.9 128.5 156.5 118.8 April 132.1 130.5 165.3 119.6 May 132.1 130.7 163.4 119.9 127.8 125.0 154.8 117.5 128.9 127.6 159.7 118.3 83,653 20,301 63,352 3,031 1,869 13,028 45,424 86,102 65,293 2,623 1,201 12,175 49,295 21,376 82,493 2,366 1,209 15,888 63,031 3,720 35,862 3,842 37,238 3,775 36,651 4,654 42,202 4,234 39,227 4,140 36,900 4,662 41,891 4,171 38,119 4,248 39.229 11,975 92,785 12,543 98,006 12,846 13,989 14,028 15,793 99,470 107,933 106,097 113,841 12,939 94,176 12,371 15,307 88,734 109,980 13,164 95,899 13,724 99,757 61.4 56.5 49.2 54.5 37.1 60.0 65.1 85.0 99.1 100.0 96.1 92.5 70.8 91.0 71.2 96.0 106.9 88.5 106.4 79.5 89.2 91.0 88.5 92.2 93.0 94.9 04.9 94.4 96.7 96.7 101.1 . 98.1 93.5 96.4 98.7 98.2 100.5 99.5 102.0 99.0 129.8 128.0 154.8 118.5 4,170 39,485 4,067 37,996 r 107.1 '79.0 102.9 10L4 EMPLOYMENT CONDITIONS AND WAGES Page 39 Labor conditions:' .,_.*. Labor turn-over in mfg. establishments: 2.95 3.34 3.06 4.09 3.22 4.24 5.19 3.92 4.51 4.81 5.29 3.44 3.29 Accession rate..mo. rates per 100 employees. Separation rate: 3.18 3.46 2.61 3.19 3.88 3.56 3.81 4.41 3.14 3.08 3.31 3.48 Total do—. .13 .10 .10 .13 .10 .12 ,09 .09 .10 .10 .11 .12 .12 Discharge _ do.... 2.67 2.23 1.87 2.60 3.13 2.24 2.44 2.46 3.21 2.40 2.62 3.69 2.33 Lay-ofi do .64 .76 .73 .85 .78 .82 .59 .58 .65 .61 Quit do FINANCE Pages 56, 60, 73, 77 Banking: Savings deposits: U. S. Postal Savings: 1,264 1,266 1,263 1,261 1,259 1,250 1,252 1,252 1,262 1,250 1,248 1,252 1,252 Balance to credit of depositors, .mil: of dol. '76 73 '83 '81 64 87 99 101 . 115 Balance on deposit in banks do 86 Life insurance (Ass'n of Life Insurance Presidents): Insurance written:© Policies and certificates, total number 716 812 842 675 1,089 648 865 841 822 760 712 784 720 thousands.. 20 33 33 23 71 30 34 134 24 16 18 30 12 Group -do. 464 496 499 399 755 357 608 461 698 682 580 511 518 Industrial. _ do. 232 283 310 252 264 262 223 245 161 200 174 197 176 Ordinary _ do Value, total _ -thous. of dol— 729,749 597,773 528,452 550,9^0 519,932 592,432 671,262 974,920 729,937 570,491 645,019 550,666 604,445 194,223 45,076 18,659 33,443 24,924 32,288 43,754 91,294 51,899 40,365 45,205 35,981 43,278 Group do 129,051 137,073 Industrial... _ do— 128,568 170,312 153,392 156,304 173,641 179,553 182,690 226,085 99,363 109,871 Ordinary d o _ 406,958 382,385 356,401 361,213 321,367 380,591 444,818 657,541 578,675 420,255 461,418 385,634 424,094 Security markets: Bond prices: Standard Statistics Co., Inc. (60 bonds) 80.2 79.4 . 82.1 83.1 81.9 81.1 82.1 81.4 78.7 81.8 81.3 80.8 75.3 dol. per $100 bond— 84.8 83.8 86.4 87.1 86.2 86.0 86.9 86.2 84.2 86.8 85.7 85.0 80.0 Industrial (20 bonds).... do 101.0 99.7 100.7 101.3 99.7 98.7 99.3 101.6 98.6 98.1 97.3 94.0 Public utilities (20 bonds) do.___ 54.8 64.5 60.9 59.7 58.6 60.2 66.2 Rails (20 bonds).. do.— 59.9 60.0 60.2 52.0 55.7 Stock prices: Standard Statistics Co., Inc.: 83.1 81.9 91.7 9a 1 Combined index (420 stocks)..1926=100.. 91.8 92.0 86.0 94.7 89.5 86.0 73.1 91.1 88.0 97.0 95.9 108.0 106.3 109.3 Industrials (348 stocks) do 110.6 113.6 103.9 108.0 109.6 105.3 86.4 100.5 80.0 82.4 85.8 83.8 81.2 80.9 75.0 Public utilities (40 stocks) do.... 77.9 77.4 72.2 76.5 84.7 69.2 24.8 25.0 28.0 29.7 29.8 30.0 27.8 Rails (32 stocks) do 28.1 27.3 28.8 25.5 20.5 25.9 CHEMICALS AND ALLIED PRODUCTS Page 97 Vegetable oils and products: Oleomargarine: Consumption (tax-paid withdrawals) thous. of lb__ 20,745 27,890 25,671 28,371 32,000 31,824 29,812 29,991 30,350 27,774 29,032 23,622 22,827 Price, wholesale, standard, uncolored (Chi.140 .140 .135 .140 .140 .143 .134 cago) .dol. per lb_. .150 .153 .155 .135 .158 .145 Production thous. of lb.. 21,111 28,146 25,512 28,718 32,387 31,092 30,221 30,373 30,319 27,701 29,417 23,325 22,699 ELECTRIC POWER Page 99 9,955 10,341 9,654 10,567 Production, total§ mil. of kw.-hr.. 10,523 10,270 10,303 10,882 10,641 9,596 10,246 9,898 9,271 By source: 5,562 ' 6,176 6,116 5,828 6,899 6,976 6,868 6,377 6,402 6,760 6,741 5.8SS 5,530 Fuel do. 4,450 ' 4,165 3,742 4, ate power p 3,543 3,402 3,520 3,782 3,906 3,845 3,708 3,741 Water do By ttype offproducer: d Privately and municipally owned public 9,900 9,043 9,965 9.321 9,615 0,238 9,660 10,205 utilitiesmil. of kw.-hr_. 9,820 9,586 8,637 667 611 676 677 643 655 Other producers do '655 703 661 604 * Revised. § See footnote marked " 1 " on p. 41 of the July 1939 SURVEY. ©40 companies having 82 percent of total life Insurance outstanding in all United States legal reserve companies. MONTHLY BUSINESS STATISTICS—Continued Monthly statistics through December 1937, together with explanatory notes and references to the sources of the data, may be found in the 1938 Supplement to the Survey 1939 June 1933 June July 1939 August Septem- October IS0 ^' "%£ January February March April May METALS AND MANUFACTURES Pages 131,132,134,136 Pig Iron and iron manufactures: Castings, malleable: Orders, new short tons. 29,041 18,143 16,905 25,752 29,061 32,770 36,643 35,663 38,105 33,234 35.Q07 29,183 27,702 30,781 18,077 16,630 25,799 29,460 29,970 35,351 38,802 35,372 34,786 39,615 31,640 30,840 Production. do-__ 20.2 37.0 36.4 31.3 Percent of capacity 46.0 43.0 34.8 21.-7 43.5 38.8 '47.5 42.9 37.8 Shipments___ short tons.. 32,566 21,673 17,500 21,102 26,941 28,717 35,563 36,434 36,403 34,698 39,807 33,666 32,657 Boilers, range, galvanized: Orders: New .number of boilers. 59,277 65,902 50,377 57,721 68,337 108,427 70,862 47,882 61,003 50,876 57,928 69,772 68,191 16,245 16,153 14,279 15,414 18,016 46,882 37,170 20,626 15,026 12,604 10,145 19,442 20,638 Unfilled, end of month, total do... Production d o . . . 62,996 64,185 51,900 56,595 65,622 77,563 83,716 70,232 64,094 56.476 60,421 53,454 67,610 63,370 62,928 52,251 56,586 65,735 79,561 80,674 64,426 66,603 53,298 60,387 60,475 66,995 Shipments do... 31,472 31,254 Stocks, end of month— do._. 30,912 30,799 28,677 31,819 37,625 35,317 38,495 31,442 32,057 Steel, manufactured products: Barrels and drums, steel, heavy type: Orders, unfilled, end of month number. 208,000 448.176 361,750 378,675 445.310 374,454 248,376 519.375 438,746 421,037 351,203 277,719 257,961 Production do... 833,378 696,528 629,448 766,374 783,592 841,653 788,040 830,979 749,070 552,189 709,252 800,292 814,298 39.1 52.3 47.6 49.0 48.7 43.3 Percent of capacity — 44.4 35.0 47.5 51.7 52.3 50.1 51.1 Shipments .number- 822,658 685,453 622,155 771,283 759,188 865,572 799,678 822,746 746,510 556,069 710,228 799,404 812,843 42,587 34,089 41,287 35,756 60,160 36,241 24,603 32,696 34,717 30,586 29,610 30,498 31,867 Stocks, end of month .do... Boilers, steel, new orders: 1,032 783 892 635 Area. thous. of sq. ft.. 717 579 547 1,131 765 617 817 877 894 Quantity number., 947 1,125 1,124 1,063 1,098 1,264 1,012 ' 834 660 892 Nonferrous metals and products: Babbitt metal (white-base antifriction bearing metals): Consumption and shipments, total 1,305 1,366 1,749 1,474 thous. of lb._ 1,596 1,538 1,225 1,380 1,783 1,460 1,725 1,602 468 Consumed in own plants. do 509 597 453 508 345 611 531 648 338 359 644 425 837 Shipments do. 999 857 1,021 1,030 881 1,042 1,252 1,137 1,101 958 1,080 1,177 PAPER AND PRINTING Page 146 Paper: Newsprint: Consumption by publishers Stocks, end of month:f At publishers In transit to publishers short tons. do do. 151,875 170,980 159,199 174,096 179,542 178,543 230,448 47,737 324,098 316,635 314,586 303,067 288,408 291,477 284,661 267,155 251,041 233,469 206,680 24,624 26,262 34,696 32,653 47,570 30,677 36,872 13,449 37,253 229,142 39,251 11,126 50.9 12,688 22,275 151,324 162,457 187,450 176,322 177,134 160,916 153,346 STONE, CLAY, AND GLASS PRODUCTS Pages 150,152 Portland cement: Production thous. of bbl_. Percent of capacity Shipments thous. of bbl_. Stocks, finished, end of month do Stocks, clinker, end of month do— Glass containers: Production. thous. of gross.. Percent of capacity.— _ Shipments thous. of gross.. Stocks, end of month do Plate glass, polished, production thous. of sq.ft. _ TEXTILE PRODUCTS 11,953 56.5 12,715 21,489 5,809 4,662 72.0 4,618 8,209 8,171 37.4 8,467 23,786 6,447 9,674 45.7 • r 9,654 '23,837 €568 L5,723 55.8 3,473 8,179 55.7 3,323 8,192 4,129 61.4 3,933 8,318 4,071 65.4 3,978 8,336 4,516 69.7 4,485 8,293 12,691 12,209 10,165 11,867 7,268 8,036 23,612 7,716 29,688 9,501 25,941 9,784 22,449 8,776 21,110 9,856 19,567 8,159 20,244 5,852 1,335 86 167 1,529 89 171 1,759 81 177 1,924 79 186 1,942 78 209 1,680 75 213 1,338 62 198 1,573 69 175 66.840 70,205 120 71,110 85,954 146 73,277 97,019 149 73,480 87,770 129 73,130 82,226 137 60,041 77,747 124 55,704 67,613 95 63,248 79,174 117 10,184 48.2 8,573 22,179 4,963 8,066 36.9 6,281 23,954 5,282 3,653 63.6 3,971 7,641 64.7 3,954 7,493 3,709 64.6 3,491 7,643 3,515 58.8 3,042 8,029 7,676 8,873 12,869 12,883 22,746 4,996 23,136 6,025 19,619 24,619 8,660 1,174 58 106 1,499 80 143 77 164 57,438 55,663 119 74,710 69,644 145 66,022 62,851 117 10,968 50.2 10,164 23,286 6,089 11,007 50.4 11,823 22,534 5,902 10,559 49.9 11,716 21,374 5,506 60.0 3,858 8,750 3,506 61.0 3,847 8,354 4,031 65.0 4,178 8,149 6,956 6,506 Pages 157, 158 Wool:l Consumption (scoured basis): Apparel class thous. of lb._ 23,772 15,467 Carpet class do— 6,291 3,313 Operations, machinery activity (weekly averages): Looms: Woolen and worsted: Broad thous. of active hours.. 1,791 Narrow do— 73 Carpet and rug do— 178 95 Spinning spindles: Woolen do.__. 72,489 48,020 Worsted do_._. 82,819 55,134 Worsted combs do 101 136 Stocks, scoured basis, end of quarter, total thous. of lb__ 122,915 139,260 Woolen wools, total do 39,421 46,509 31,191 37,830 Domestic do 8,679 8,230 Foreign .__—do 83,494 92,751 Worsted wools, total do 63,128 79,520 Domestic do 20,366 13,231 Foreign do 5,506 27.9 5,043 24,092 5,986 11,556 52.9 12,357 20,569 4,927 10,535 49.8 10,943 22,467 6,218 147,597 48,276 40,224 8,052 99,321 84,383 14,938 115,655 46,686 37,065 9,621 52,517 16,452 5,301 24.3 5,640 23,611 6,563 94,506 39,019 29,458 • 9,561 '55,487 '33,452 '22,035 ' Revised. fRevised series. Stocks of newsprint, at publishers, and in transit to publishers, revised for 1937 and 1938. Revisions not shown on p. 52 of the April 1939 Survey will appear in a subsequent issue of the Survey. 1 Data for July, October, and December, 1938, and January and April 1939 are for 5 weeks; other months, 4 weeks. NOTE.—The data in the above tables present, in advance of the monthly Survey of Current Business, such items as were received during the week ended Saturday, July 29. These figures, like similar information in the table entitled "Monthly business statistics" in each monthly issue, should always be read in connection with the detailed tables covering the respective items in the 1938 Supplement to the Surrey of Current Business, which contains a description of each series and a reference to the source of the data. Series marked with an asterisk (*) are exceptions, representing additions since the 1938 Supplement was issued, and similar data, if published, will be found in the monthly numbers indicated by the footnotes. Changes in the series are also indicated in the footnotes. The Sumy ofCurrent Business, including 12 monthly Surveys of 56 pages each, and the 52 Weekly Supplements, may be obtained from the Superintendent of Documents, Washington, D. 0., for $2.00 per year. The 1938 Supplement may be obtained from the same source upon receipt of $0.40. U. S. GOVERNMENT PRINTING OFFICE: 1335
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