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SURVEY OF CURRENT BUSINESS WEEKLY SUPPLEMENT UNITED STATES DEPARTMENT OF COMMERCE BUREAU OF FOREIGN AND DOMESTIC COMMERCE WASHINGTON, D. C , JANUARY 19, 1939 SUMMARY OF BUSINESS TRENDS TNDUSTRIAL activity has picked up following the curtailment over the year-end holiday period, but the seasonally corrected data indicate a rate somewhat under that prevailing prior to Christmas week. The production of steel ingots for the week of January 14 stood at 52 percent of capacity, and the schedules for the following week indicate a rate of 53 percent. This is almost double the rate a year ago, but the indicated production for the first 3 weeks of the year is lower than the average rate in December whereas, the usual.-seasonal ino\x-iaent-,, is upward. Automobile production for the second week of the year totaled 86,925 units, a moderately higher total than in the 2 preceding weeks, but less than the weekly rate in the first 3 weeks of December. Assemblies of automobiles are about onethird higher than a year ago. After allowance for the influence of the holidays, freight-car loadings have shown very little change since the middle of December. Additional data on retail trade in December confirm earlier indications of a relatively favorable movement during the preholiday period. Sales of general merchandise in rural areas showed a more-than-seasonal increase over the November figures. The index at 129 (1929-31 — 100) was only slightly below the 1937 high recorded in October of that year. The movement of commodity prices for the year to date reveal only minor changes in price relationships. Moody's index of 15 coxp.na3^itie^,/ie.filijied^fll-fgljtiyfc-.l^it.v?.t, the end. of the week was higher than in mid-December. Retail prices of department store articles, as computed by Fairchilds, have shown no important change since last July, but in December they were about 5 percent lower than at the end of 1937. Security prices have moved lower since the first of the year. The Dow-Jones average of 30 industrial stocks was off 4 percent between January 3 and January 14. SELECTED BUSINESS INDICATORS (PERCENT OF (THOUSANDS OF INGOT CAPACITY) 'j>v 1 m 1'uilwIUJ\uk\w1vul,ml-'jA' 1 m 1 >gj cl CRUDE PETROLEUM PRODUCTION ' '""•" )S OF (TKQUSANOS Of CARS) VEHICLES) 'w1mlu; 1 u 1 1 m \M^IUAtolwIw BITUMINOUS COAL PRODUCTION I THOUSANDS Of SHQftT TONS) FREIGHT CAR U0AD1NGS AUTOMOBILE PRODUCTION STEEL INGOT PRODUCTION 3ARRELS * • DAILY AVERAGE) 1 w} ol MV.lmua 1 w 1 ^ l i u 1 ^ 1 J&I ml 'AV 1 & 1 *&> ELECTRIC POWER PRODUCTION (MILLIONS OF KILOWATT HOURS) WEEKLY BUSINESS INDICATORS [Weekly average 1923-25=100] Business activity:! New York T i n i e s t Barron'so" Business week 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, electrolyticf Cotton, middling, spot. 77.0 67.6 72.6 80.6 76.9 68.3 72.5 80.5 76.6 67.: 72.: 80.5 2 105.2 105.6 8 108.9 109.0 2113.0 113.6 81.9 79.4 82.1 92.4 91.8 99.4 101.1 101.1 105.6 105.0 103.5 76.7 67.4 72.6 80.6 81.0 80.8 85.7 85.2 92.3 90.9 73.4 87.3 86.7 76.8 83.6 83.1 83.0 79. 80.0 80.3 79.7 79.8 83.9 79.7 79. 79.7 79.7 79. 75.4 71. 32.4 32. 32.7 32.4 31.6 31.6 Construction contracts^ -. Distribution: Carloadings 55. Employment: Detroit, factory... Finance: Failures, commercial 73. Bond yieldst 66.9 67.2 107.1 110.5 Stock pricest.~. 90.' 90.0 87.0 85.5 47.8 47.8 57.3 126.8 82. 80. 66.8 52.1 59.9 63.2 60.6 57.6 72.6 73.0 1114 100.9 88.6 102.9 46.4 46.4 58.0 56.3 53.1 67.6 63.3 63.4 68.1 68.5 68.8 7L4 110.1 107.8 107.6 97.4 92.3 143.8 142.1 SComputed normal=100. •Data do not cover calendar weeks in all cases. ® Index for week ended Jan. 21, is 89.0. cTFor description of these indexes, see p . 4 of the Dec. 16,1937 issue. 1937 1938 1939 1937 1938 1939 Jan. Jan. Dec. Dec. Dec. Jan. Jan. Jan. Jan. 16 9 31 24 17 15 14 7 Jan. Jan. Dec. Dec. Dec. Jan. Jan, Jan. Jan. 16 24 14 7 Fin ance— Continued Banking: Debits, outside N. Y. C.J. Federal Reserve reporting member banks: Loans, total.., Interest rates: Call loansj. Time loanst _ Currency in circulation^ Production: Automobiles -— Bituminous coal? Cotton consumption! Electric powerf Lumber Petroleum tSteel ingots® Keceipt, primary markets: Cattle and calves Hogs Cotton Wheat __„ JDaily average. 90.8 133.4 101.8 118.5 66.9 67.3 67.5 24.2 24.2 24.2 28.6 28.6 28.6 138.3 140.5 142.0 82.4 132.7 137.4 67.8 68.0 73.6 73.8 72.3 72.7 24.2 24.2 24.2 24.2 24.2 24.2 28.6 28.6 28.6 28.6 28.6 28.6 143.2 141.7 131.8 133.9 131.4 133.2 113.9 100.5 98.6 121.7 134.9 86.9 92.4 82.2 79.4 84.0 106.5 124.0 130.2 127. 3 141.8 140.0 5 51.4 40.3 38.7 29.5 154.3 153.8 165.6 157.3 87.3 85.6 65.5 87.3 97.2 56.0 48. 45.1 53.6 18.1 L 8 127.0 44.: 57.9 52.7 56.2 44. f Weekly average, 1928-30^100, 68.4 64.4 67.3 48.2 86.2 74.2 80.8 127.0 70.9 65.8 85.0 128.5 120.9 101.6 129.1 135.9 32.6 30.4 43.5 166.9 165.0 152.9 46.9 43.2 129.4 80.1 70.1 89.5 73.1 68.2 67.5 97.3 70.8 50.0 33.9 >26.8 21.2 126.1 104.5 135.0 134.7 43.1 i49.7 130.4 87.4 68.7 61.2 ^Seasonally adjusted. WEEKLY BUSINESS STATISTICS* 1939 Jan. 14 COMMODITY PRICES, WHOLESALE •, electrolytic, New YorkJ dol. perlb— Cotton, middling, spot, New York do Food index (BTadstreet's) do Iron and steel, composite. dol. per t o n . . Wheat, No. 2 hard winter (Kansas City)...dol. per bu— FINANCE Banking: Debits, New York City mil. of dol.. Debits, outside of New York City... do— Federal Reserve banks: Reserve bank credit, total __. 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 U. S. Government direct obligations _do Obligations fully guaranteed by U. S. Government ...mil. of dol— Loans, total do— Commercial, industrial, and agricultural loans mil. of dol._ Interest rates, call loansXpercent.. Interest rates, time loanst..do. Exchange rates: French franct .cents.. Found sterling*— dollars.. Failures, commercial _..number.. Currency in circulation^...._ ...mil. of dol— Security markets: Bond sales (2V. Y. S. E.) thous. of dol. par value.. Bond yields (Moody's) (120 bonds) j percent.. Stock sales (2V. Y. S. #.),_ thous. of shares.. Stock prices (N. Y. Timts)X --dol. per s h a r e Stock prices (Standard Statistics) (420) 1926=100Industrials (348) _..do Public utilities (40) do. . Railroads (32)... _ do PRODUCTION, CONSTRUCTION, AND DISTRIBUTION Production: Automobiles number . Bituminous coalt thous. of short tons.. Electric power——— mil. of kw.-hr.. Petroleumt .thous. of bbl__ Steel ingots® pet. of capacity— Construction-contract awards* thous. of dol-. Distribution; Freight-car loadings, total cars— Coal and coke do Forest products do Grains and grain products do Livestock _.do Merchandise, 1. c. 1 do Ore do"— Miscellaneous _ do Receipts: Cattle and calves thousands Hogs do Cotton into sight.. thous. of bales.. Wheat, at primary markets ...thous. of bu._ 1937 1938 Jan. 7 Dec. 31 Dec. 24 Dec. 17 Dec. 10 Jan. 15 0.110 .088 2.31 36.37 .71 0.110 .089 2.33 36.36 .72 0.110 .089 2.35 36.36 .71 0.110 2.34 36.37 0.110 .086 2.38 36.38 .67 0.110 .086 2.39 36.36 .67 0.104 .086 2.53 38.97 1.05 3,429 4,210 4,620 5,153 3,379 3,937 5,214 5,493 3,676 4,143 3,839 4,380 2,592 2,564 8,956 3,436 2,604 2,564 8,819 3,298 2,610 2,564 8,577 3,072 2,656 2,564 8,472 2,979 2,600 2,564 9,034 3,475 2,591 2,564 8,966 3,442 16,050 5,177 13,110 8,206 15,888 f 5,161 ?13,114 " 8,189 15,986 5,160 13,219 8,266 16,025 5,141 13,269 8,333 16,221 5,130 13,008 8,080 l t 715 8,367 1,732 8,412 3,818 1.00 1.25 3,826 1.00 1.25 1,732 8,430 3,843 1.00 1.25 lf7i8 8,473 3,857 1.00 1.25 2.636 4.672 300 6,718 2.628 4.646 254 6,823 2.631 4.656 236 35,870 3.86 5,405 103.99 91.5 109.2 SO. 3 29.6 39,410 3.88 5,808 107.33 95.6 114.5 80.8 32.5 86,025 76,685 1,480 2,169 3,215 50.7 51.7 115 3,090 •Data dp not cover calendar weeks in all cases. Jan. 8 Jan. 16 1936 Jan. 9 Jafi, 13 .086 2.53 38.93 .98 0.120 .i30 2.99 36.55 1.40 0.118 .130 2.97 36.52 1.41 0.090 .119 2.69 33.34 1.12 3,175 3,823 2,599 2,564 7,193 1,386 4,131 5,i28 4,165 4,583 4,386 5,311 4,080 3,899 2,603 2,564 7,071 1,267 2,476 2,430 6,740 U, 103 2,464 2,430 6,627 2,010 2,406 2,430 5,869 3,095 16,114 5,127 12,990 14,463 5,203 12,138 8,097 14,219 5,225 12,023 8,056 15,562 5,053 13,758 9,275 15,425 5,052 13,768 9,303 13,770 4,898 12,788 8,576 1,696 8,496 1,685 8,460 1,131 9,195 1,125 9,226 1,240 9,039 1,240 9,085 85 3,872 1.00 1.25 3,881 1.00 1.25 4,501 1.00 1.25 4,517 1.00 1.25 1.00 1.25 1.00 1.25 .70 1.00 2.633 4.666 229 6,952 2.629 4.670 216 6,881 2.637 4.681 221 6,849 3.355 4.998 275 - 6,402 3.395 5.002 281 6,501 4.670 4.911 189 6,383 4.671 4.911 189 6,467 6.620 4.962 250 5,735 50,970 3.93 7,537 106.94 92.6 111.3 77.5 30.1 52,060 3.95 5,980 104.65 91.1 109.7 76.9 28.2 57,080 3.97 7,356 104.48 93.0 112.0 78.3 29.0 41,080 3.96 4,616 102.27 91.2 109.6 77.9 38,520 4.12 7,099 94.55 86.4 101.5 78.8 31.4 37,760 4.15 6.051 89.68 80.7 94.2 76.9 28.2 92,040 3.65 17,591 139.63 127.1 147.0 116.4 66.4 96,600 3.66 13,020 138.02 123.5 143.2 111.7 54.6 114,750 4.04 15,555 115.81 100.9 115.3 97.9 44.7 02,890 1,400 2,363 3,450 51.7 13,218 574,462 140,435 27,612 30,724 11,997 140,900 9,001 213,793 102,905 1,353 2,333 3,276 57.6 12,894 100,705 1,365 2,319 3,245 59.9 65,735 1,264 2,115 3,477 27.8 10,722 54,084 1,120 2,140 3,437 25.6 92,280 1,731 2,264 3,185 78.8 9,200 96,230 1,780 2,244 3,118 79.4 95,170 1,479 1,950 2,834 49.4 7,803 630,849 126,917 21,733 29,324 12,819 122,302 8,932 208,772 75,215 1,574 2,121 3,204 38.8 20,359 499,895 138,393 17,945 25,897 10,374 115,079 6,995 185,207 606,314 133,048 29.113 35,956 13,177 148,091 8,260 238,669 619,340 134,964 28,043 34,421 14,545 151,325 10,281 245,761 580,600 138,219 25,871 42,393 15,219 141,252 7,772 209,874 552,568 117,694 24,258 39,672 14,635 142,138 6,454 207,717 696,035 172,999 31,769 31t4S2 15,768 160,929 11,143 271,945 700,046 182,918 30,037 29,860 15,419 159,001 9,826 272,985 611,347 149,412 28,377 34,669 13,933 149,016 6,036 229,904 177 293 47 2,145 154 348 95 1,879 183 342 146 3.519 216 418 175 3,837 357 239 3,874 253 474 253 2,693 222 443 184 2,132 283 438 130 1,686 276 446 159 2,034 271 403 172 2.669 JDaily average. 27.9 QEate for week ended Jan. 21 is 62.7, 1,149 MONTHLY 1BUSINESS STATISTICS Monthly statistics, through December 1935, to- 1938 1937 gether with explanatory notes and references to the sources of the data may be found in the Decem- Decem- January ber ber 1933 Supplement to the Survey 1938 F lry U " March April May June August July November ;ember October COMMODITY PRICES Page 12 Retail prices: Fairchild's index: Combined index Dec. 31,1930=100.. Apparel: Infants' wear ......... . . do Men's .. . -do Women's . „ ... .do Home furnishings -do Piece goods ....... ._ .do.-DOMESTIC TRADE 88.9 93.2 92.4 91.2 90.6 90.2 89.5 89.2 89.0 89.0 89.0 89.0 88.9 96.3 88.7 89.0 90.4 84.3 97.2 91.1 93.5 96.3 87.1 97.2 90.9 92.9 95.3 87.0 97.1 90.7 92.2 94.6 86.1 97.1 90.2 91.4 94.2 85.6 97.1 89.9 90.8 93.5 85.4 97.0 89.6 89.9 92.7 84.9 96.9 89.4 89.3 91.9 84.9 96.8 88.9 89.0 91.5 84.8 96.6 89.0 89.4 91.3 84.5 96.5 88.7 89.4 91.1 84.5 96.4 88.7 89,4 90.9 84.5 96.4 88.7 S9.2 90.4 84.4 27,492 3,533 27,046 3,357 31, 792 3,881 29,564 3,641 28,247 3,485 28,007 3,500 24,602 3,303 26,609 3,446 29,517 3,472 30,850 3,728 31,426 3,568 71.6 ^.96.1 78.6 _34O_ 81.7 _fi7.2_j Pages 27, 30 Postal business: Receipts, postal: 50 selected cities thous. of dol_. 42,470 '41,236 4,994 5,154 50 industrial cities do Retail trade: Variety-store sales: Combined sales of 7 chains: 203.5 Unadjusted 1929-31=100.. v 194.0 Mail-order and store sales: Montgomery Ward & Co thous. of dol.. Sears, Roebuck & Co^ do Rural sales of general merchandise: Total, U. S., unadjusted 1929-31=100.. Total, U. S., adjusted do 95.2 90.7 -90-7- 90.9 88.0 85.2 96.3 94.1 98.5 98.2 .36.7 r 102.2 .....100.2 . 57,085 68,622 51,360 64,872 21,840 30,620 21,765 30,449 30, 797 41,071 37,063 44,857 36,150 43,463 35,745 43,820 29,075 36, 316 32,849 39,934 38,556 49,167 46,667 53,345 42, 295 51,215 183.6 129.3 179.5 126.4 86.6 104.3 90.4 99.9 98.4 105.8 107.9 112.3 103.5 110.1 106.2 112.4 84.8 110.2 98.2 114.2 121.1 122.4 140.9 115.5 147.2 119.7 mil. of dol. do... do... 39,930 18,879 21,050 39,114 18,277 20,837 32,084 14,477 17,607 25,547 10,915 14,633 32,120 14,746 17,373 31,169 14, 572 16,597 28,841 12,828 16,013 32,797 15,637 17,160 30,505 13,828 16,677 28,270 12,247 16,023 29,525 13,085 16,440 33, 235 15,140 18,096 29,406 12,425 16,981 number. thous. of dol. 875 36,528 1,009 27,818 1,377 21,415 1,149 21,028 1,167 40,325 1,172 21,147 1,123 19,139 1,073 15,918 1,038 14,761 1,015 16,382 866 14,341 997 13,219 984 12,302 452,677 218,478 234,199 164,452 122,364 42,088 121,444 92,387 29,056 199,188 82,072 117,116 245,178 12f>, 260 118,918 352,020 197,448 154,572 216,724 15G, 640 60,084 505,517 345,257 ICO,200 464,920 415,474 196, 697 762,948 389,896 180,228 120, 362 164,682 75,024 235,247 76,335 598,266 243,693 47,181 36,801 6,348 196,511 2,779 139,438 57,230 42,767 27,580 6,775 14,463 138 14,125 49,306 45, 533 5,177 38,527 3,773 1,003 774 103,027 40,802 105 40,170 62,225 215 61,830 81,638 23,995 8,660 12,300 57,643 45,211 1,265 78,813 12,313 6,139 2,250 66,500 6,000 60,500 61,626 35,935 18.405 16,805 25,692 2,002 23, 570 293,900 198,866 141,761 50, 775 95,034 750 94,284 180,606 129,061 119,250 9,604 51,545 1,500 46,045 335,837 124,696 67,232 49,905 211,141 41,659 169,382 110,023 60,887 56,838 2,562 49,136 180 41,824 337,159 63,922 40,561 20,441 273,237 14,458 258,659 145,439 43,071 17,300 21,819 102, 368 44,656 57,712 51,554 46,920 4,634 47,053 44,268 2,785 47,694 42,866 4,828 42,782 39,760 3,022 47,910 43,112 4,798 42,486 39,508 2,978 47,895 43,124 4,770 42,855 39,862 2,092 48,360 43,601 4,760 41,450 38,677 2,773 48,279 43,559 4,720 42,399 39, 571 2,828 48,244 43,551 4,693 42,347 39,548 2,799 49,177 44,489 4,687 43,757 40,919 2,838 49,409 44,657 4,752 44,561 41,674 2,887 49,424 44,676 4,748 44,183 41,339 2,844 50,331 45,649 4,682 44,837 42,041 2,796 50,225 45,546 4,679 45,539 42,675 2,864 50,301 4*, 639 4,661 45,442 42, 597 2,844 FINANCE Pages 53, 57,58,70,71,72,74,75,76,77 Banking: Bank debits total New York City Outside New York City Commercial failures:! Grand total Liabilities, grand totaL. Securities issued by type of security, total (new capital and refunding).thous.of dol New capital, total do... Refunding, total do... Securities issued by type of corporate borrower, total —... - ...thous. of doL New capital, total do... Public utilities do... Refunding, total do... Industrial do... Public utilities do... Security markets: Bonds: Value, issues listed on N . Y. S. E.: Par value, all issues mil. of doL Domestic issues... do... Foreign issues do... Market value, all issues do... Domestic issues do... Foreign issues do... Yields: Moody's: Domestic (120 bonds) percent. 388,588 218,907 169,680 3.95 4.16 4.19 4.23 4.36 4.50 4.28 4.40 4.17 4.09 4.17 4.03 3.95 3.21 3.50 3.17 3.50 3.18 3.21 4.49 6.47 4.28 6.06 S (\1 4.21 5.63 4.13 5.49 s fin 4.20 6.65 3.15 -3.73 3.26 3..GS. 4.41 6.25 3.22 4.08 5.36 3.10 ~. . 3.46 4.02 5.23 Industrials (40 bonds). do... Public utilities (40 bonds)_._do._. Rails (40 bonds) do 3.40 3.63 4.82 3.66 4.03 4.79 5.89 3.54 4.01 5 02 3.22 3. 56_ 4.34 6.30 3.22 5.73 ~4T20 3.20 3.51 4.24 5.97 3.30 do... 3.08 3.42 4.02 5.27 3.57 4.07 5.06 3.58 4.05 5 44 3.64 4.11 5 75 3.51 3.90 5 44 3.55 3.90 5 75 3.48 3.79 5 25 3.43 3.76 5 09 3.50 3.82 5 18 3.43 3.73 4 94 3.39 3.65 4 83 47,491 1,424 38,869 1,412 39,243 1,422 41,173 1,423 31,858 1,427 35,865 1,426 34,585 1,424 41,962 1,427 44,784 1,427 43,526 1,425 43,527 1,425 47,002 1,426 46,081 1,427 T3v rflfffif^* Aaa (30 bonds) Aa (30 bonds) •- - A~ (8a trends) ; z^z ^ z Baa (30 bonds) do... do... ZZTZZ^ZAO:JJ Stocks: Shares listed, N. Y. S. E.: Market value, all listed shares.mil. of dol Number of shares listed millions. . TRANSPORTATION AND COMMUNICATIONS Pages 84, 85 Class I steam railways: Freight-carloadings (Federal Reserve): 62 57 59 64 Combined index, unadjusted 1923-25-100. 57 55 67 62 65 69 Combined index, adjusted do... 60 57 88 76 89 83 Grains and grain products do... 77 77 62 62 61 61 Merchandise, 1. c. 1 do 61 60 86 78 82 92 Ore do 76 52 p Preliminary. 'Revised. f Revised series. Data revised beginning June 1934; see table 3, pp. 17-18 of the December 1938 Survey. 57 58 77 60 26 58 58 82 59 36 62 61 89 60 32 63 62 84 60 34 71 64 74 61 41 75 68 95 62 48 70 69 81 61 74 MONTHLY BUSINESS STATISTICS—Continued Monthly statistics, through December 1935, to- 1938 1937 gether -with explanatory notes and references to the sources of the data may be found in the Decem- Decem- January 1936 Supplement to the Survey ber ber 1938 F *£™' AT arch April May June July 21,033 85,656 14,387 77,042 19,574 76,280 54,594 91,160 120,351 114,788 1,303 281 88,754 96,475 62,1S4 45,694 789 838 57,023 50,501 699,6H3 665, 263 £82,654 543,917 116.979 121,316 3,522 2,901 70 78 100,493 78,819 3,204 115,874 37,367 729 40,145 622,454 500, 564 121,890 2,121 64 60,053 5,100 130,872 45,981 671 1,310 1,626 1,502 1,681 1,605 1,630 1,946 2,017 2,306 ],900 863 443 1,013 605 920 576 1,021 632 995 615 952 659 1,103 821 1,061 950 1,122 1,120 989 927 1,757 temper October FOODSTUFFS Pages 103, 110, 111, 112, 115 Stocks, cold storage, end of month: Butter, creamery thous. oflb. Cheese (total) do... Eggs: Case thous. of casesFrozen thous. of lb. Fish, total (15th of month) _do... Total meats .mil. of lb.. Beef and veal _„ thous. of lb. Pork, total do... Fresh and cured do_-_ Lard do... Lamb and mutton ^.._do... Miscellaneous meats —.mil. of lb. Poultry .... thous. of lb. Livestock: Cattle and calves: Eeceipts, principal markets thous. of animals. Disposition: Local slaughter. _ do... Shipments, total... _.do__. Hogs: Receipts, principal markets.__ do.._ Disposition: Local slaughter ___—do.__, Shipments, total do..., Sheep and lambs."Receipts, principal markets do Disposition: Local slaughter do Shipments, total do 127.805 119,690 42,953 103,935 300 62, 737 90,678 667 58,350 533,167 426,058 107,109 3,519 72 139,188 831 109,210 79,891 583 60f 970 452,25S 398,565 53T 693 2,895 67 123,500 31, 211 93,497 314 95, 598 72,720 797 59,369 653,346 554,028 99,318 3,294 81 115,105 1,465 1,629 843 632 1,015 630 1,054 557 2,570 2,5S7 2,892 1,962 1,S95 1,724 1,848 726 1,834 753 2,066 815 1,331 620 1,334 557 1,206 517 1,552 1,643 6,255 138,510 55,039 642 33,730 574.097 543,770 450, 516 417, 704 123,581 126, 066 2,148 2,125 62 62 52,049 53,432 172,622 201,252 134,351 150,248 210,703 140,755 194,285 ' 159,254 132,326 «-127,440 3,244 5,942 * 1, 439 6,411 4,765 135,329 125, 018 110,244 94,305 * 78,C91 92, 423 66,716 75, SS2 84, 537 85,665 '484 413 601 548 459 41,218 *• 52,637 35,925 34,467 502,658 451,397 367,177 319,312 * 373,641 378,981 334,777 277, 231 251,045 *" 299,142 123,677 116,620 89,946 67,667 ' 74, 409 1,972 * 3,171 2,606 2,318 1.S61 54 61 50 53 60 52,640 54,941 59,942 77,692 M18,088 1,570 1,797 1,8S1 2,255 2,607 1,249 500 1,122 444 1,323 465 1,397 479 1,903 691 1,929 1.964 2,664 2,986 l,6fiO 587 2,805 1,080 862 979 992 1,146 1,495 1,174 1,786 1,124 1,673 94,277 77 99,856 102,898 79 101,352 106,165 96,990 98,661 79 1,954 1,713 1,739 1,938 1,333 548 2,409 1,150 793 1,058 663 1,067 670 1,079 853 1,274 1,129 106, S29 79 97,900 106,007 78 88,179 94,662 78 95,885 106,524 77 95,675 102, 702 79 99,238 9S, 674 100,787 101,830 79 97,309 98,567 79 68,649 30,452 268,006 42, 786 225,220 71,879 74,461 77,008 79,965 81,822 82,833 84,724 85,132 86,705 87,222 29,341 31,188 31,669 31,504 31,624 33,151 33,13S 33,548 33,975 34,999 268,978 267, 345 269,638 267.942 259, 259 251,213 247,361 243,952 240,251 233,463 45,104 45,228 45,822 45,975 45,101 44,314 43,674 42,724 42,979 41,131 223,874 222,117 223,816 221,967 214,158 206,899 203,687 201,228 197, 272 192,332 87,399 36,064 228,741 40,386 188,355 890 673 1,945 FUELS AND BYPRODUCTS Pages 119,120,121,122 Petroleum and products: t Crude petroleum: Consumption (run to stills).thous. of bbl., Production do.... Refinery operations pet. of capacity. Stocks, end of month: California: Heavy crude and fuel..-thous. of bbl. Light crude... do... East of California, total. do... Refineries do Tank farms and pipe lines do___ Refined petroleum products: Gas and fuel oils: Production: Residual fuel oil.... _do___, Gas, oil, and distillate fuels, total.do..., Stocks, end of month: Residual fuel oil, east of California thous. of bbls.. Gas, oil, and distillate fuels, total.do.... Gasoline: Consumption, domestic do Production: At natural gas plants do At refineries: Total. do.... Straight run_~_ do.... Cracked do Natural gasoline blended do Stocks, end of month: Finished gasoline, total _-.do__. At refineries.— do Natural gasoline do Kerosene: Consumption, domestic. do Producticn do Stocks, refinery, end of month do Lubricants* Consumption, domestic do Production .do Stocks, refinery, end of month do 27,03S 13,563 26,204 13,876 23,866 12,144 25,328 12,294 24,833 11,577 24,392 12,160 22,761 10,784 23,547 12,6SS 24,232 12,691 24, 552 13,074 25,487 13,820 24,573 12,793 27,363 22, 566 27,049 21,543 26,855 19,885 25,981 18,882 27,815 19,972 29.2S4 22,385 30,2S2 24,699 32,285 26,620 32,874 28,841 33,661 30,860 33,344 33,017 30,935 32,069 39,465 35,176 31,861 41,259 43,254 44,911 44,293 47,474 50,459 46,058 46,272 44,991 4,358 4,336 3,889 4,326 4,171 4,196 4,001 4,127 4,226 4,081 4,375 4,244 47,064 20,388 22,785 3,891 46,755 20,751 22,447 3,557 40,469 18,267 19,474 2,728 44,116 19,769 21,114 3,233 44,582 20,040 21,686 2,856 46,645 20,804 23,042 2,799 44,247 19, 735 21,877 2,635 47,607 21.020 23,652 2,935 48,662 21, 524 24,188 2,950 47,312 20,934 23,049 3,329 49,677 21,383 23,862 4,432 47,998 20,397 23,379 4,222 69, 892 46, 234 4,758 79,114 53,219 4,951 85,018 68,945 5,017 85,035 60,043 5,531 82,684 57,660 6,179 SO,987 54,010 6,548 73, 725 47,159 6,951 70,224 43,091 7,614 64,599 40, 137 8.022 63,163 38,819 8,159 63,542 3S,739 6,771 64,083 39,376 5,742 6,420 5,809 7,083 5,360 5,638 6,523 5,017 5,167 5,986 5,150 5,798 6,093 4,333 5,445 6,394 3,637 5,649 7,627 3,257 5.235 9,202 3,752 4,889 10,112 4,292 4,933 10,149 4,187 5,348 10,497 5,185 5,320 9,949 5,368 5,419 9,676 1,495 2,936 7,512 1,471 2,785 8,006 1,311 2,468 8,363 2,195 2.697 8,210 1,591 2,530 8,290 1,730 2,595 8,255 1,606 2,378 8,114 1,844 2,631 8,194 2,002 2,576 7,969 2,127 2,615 7,605 1,805 2,632 7,718 1,735 2,535 7,817 142.7 118.4 75.7 107.0 90.3 66.7 70.2 120.9 117.4 118.1 112.2 METALS AND MANUFACTURES Page 140 Machinery and apparatus: Machine tools, orders, new av. mo. shipments 1926= 100.. 146.5 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, January 14. 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 cf Current Business, which contains a description of each series and a reference to the source of the data. Series1 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 Survey of Current Business, including 12 monthly Surveys of 56 pages each and the 52 Weekly Supplements, may be obtained from the Superintendent of Documents, Washington, D. C , for $2,00 per year. The 1938 Supplement may be obtained from the same source upon receipt of $0.40. ' Revised. * Data for November are the latest available. fRevised series. Data revised for 1937; revisions not shown in the December 1938 Survey will appear in a subsequent issue. U . S . GOVERNMENT PRINTING OFFICE; 193?