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SURVEY OF CURRENT BUSINESS WEEKLY SUPPLEMENT UNITED STATES DEPARTMENT OF COMMERCE BUREAU OF FOREIGN AND DOMESTIC COMMERCE WASHINGTON, D. C , MARCH 23, 1939 SUMMARY OF BUSINESS TRENDS "POLITICAL developments in Central Europe climaxed by the -t German absorption of most of Czecho-Slovakia influenced domestic security markets last week. Prices of corporate bonds and shares declined sharply, canceling the greater part of the gains recorded in the preceding fortnight. The Dow-Jones average of industrial share quotations at the Saturday close was 142, down 10 points from a week earlier, but 6 points above the January low. Leading foreign exchange markets were unsettled, although quotations in general moved narrowly. Reports on gold movements indicate that European funds have continued to move into New York in large volume. Monetary gold stocks in the TJnited-State&have been raised-to 15 billion dpllars, an increase of 500 million dollars since December. Industrial activity in the first half of March was little changed from the February rate, according to seasonally adjusted weekly data. Steel-ingot production in recent weeks has moved around 56 percent of capacity. There have been no marked changes in purchases of steel during recent weeks, according to trade reports. However, improvement in the capital-goods industries is indicated by reports from the machine-tool makers and the railroads. Operating revenues of the railroads in Feburary were reported to be 10 percent larger than a year ago. New orders for machine tools in February were the highest for any month since September 1937. Orders for machine tools have more than doubled since the second quarter of 1938 and the February index of new orders compiled by the National Machine Tool Builders Association was within 12 percent of the 1937 average. Automobile assemblies have increased moderately over the past fortnight and production last week was at a rate of 86,700 units. Preliminary reports for retail sales of new passenger cars indicate the usual spring increase and deliveries in the early days of March were more than one-third larger than a year ago. Weekly production data for other major lines do not reveal important changes. Railway freight traffic in the early days of March was depressed by the reduced volume of coal production but carloadings other than coal, showed a seasonal increase. SELECTED BUSINESS INDICATORS AUTOMOBILE PRODUCTION STEEL INGOT PRODUCTION (PERCENT OF (THOUSANDS Of ItJGQT CAPACITY) wImlmIw\tutolw VEHICLES) FREIGHT CAR LOADINGS (THOUSANDS Of CARS) 1 m t o l w 1 UJ 1 <w CRUDE PETROLEUM PRODUCTION (THOUSANDS OF BARRELS ~ DAILY AVERAGE) "' . . . , [ . . . | . . . I . . . . f . . . l . . , I . , •• I , , . ) , , , t , . JAhi | f £ B I M*« I AP«. | MAY | JUNC I JULY I AUG. I iCPT. I OCI I H&V I ,.[,,,i...•I OCC WHOLESALE PRICES (I9£6'IOO) 1930 135097—39 STOCK PRICES WEEKLY BUSINESS INDICATORS [Weekly average 1923-25=100] 1938 1939 Business activity:! New York1 times §cfBarron'Sc? 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, electrolytic^ Cotton, middling, spot Mar. Mar. Mar. Feb. Feb, Mar. Mar. Mar. Mar. 18 76.7 67.2 71.5 80.4 76.8 67.7 71.4 80.4 11 4 25 19 18 Finance—Continued. Banking: Debits, outside N. Y. C.J.... 86.5 83.7 96.2 85.0 94.0 Federal Eeserve reporting member banks: Loans, total 66.3 66.7 65.5 65.5 65.7 Interest rates: 24.2 24.2 24.2 24.2 24.2 Call loansf ^ Time loans*. _._. 28.6 28.6 28.6 28.6 28.6 Currency in circulation? 139.3 139.1 139.0 138.2 137.9 Production: 113.7 110.2 103.2 99.2 104.7 Automobiles-_-78.3 82.6 85.3 83.3 Bituminous coalt-108.4 109.8 106.5 Cotton consumption! __ 134.3 134.7 133.6 135.0 Electric powerf—37.4 38.1 41.6 37.0 Lumber 162.5 161.0 159.1 159.8 159.6 Petroleum! 95.7 94.6 95.8 92.2 94.1 Steel ingots© Receipts, primary markets: 53.1 51.4 54.5 54.6 Cattle and calves 33.0 33.1 36.1 Hogs 34.6 35.0 31.5 33.1 Cotton 36.3 38.8 35.4 27.6 23.9 Wheat 79.3 79.2 106.6 106.9 88.0 89.5 94.2 95.8 96.9 96.9 73.6 73.9 112.0 111.9 117.6 116.7 98.7 100.3 100.8 99.8 79.9 77.0 68.0 71.4 80.6 1937 1938 1939 1937 Mar. Mar. Mar. Feb. Feb,Mar. Mar, Mar. Mar. 19 12 20 18 25 13 11 76.6 79.5 79.8 87.6 87.2 71.7 94.4 93.6 66.9 71.3 73.8 87.9 87.3 80.4 82.8 82.9 85.6 85.4 79,9 80.2 80.3 80.0 79.7 82.3 82.8 93.7 92.9 79.7 79.7 79.7 79.7 79.7 71.0 71.0 115.9 111.6 31.6 33.8 33. 5 32.7 33.1 53.3 70.9 69.4 55.8 37.2 48.9 46.8 50.4 58.1 78.7 77.7 61.7 62.4 58.5 60.5 75.3 87.7 99.3 Employment: Detroit, factory... 100.5 Finance: Failures, commercial 63.6 63.4 52.6 53.3 55.0 61.2 70.5 49.1 43.7 Bond yieldst64.5 64.6 65.5 66.0 66.0 75.2 73.3 67.6 66.2 91.3 141.2 144.7 106.2 109.1 106.9 104.1 104.9 Stock pricesj.. Coiistruction contracts! Distribution: Carloadings •Data do not cover calendar weeks in all cases. §Computed normal=100. JDaily average. f Weekly average, 1928-30=100. ©Index for week ended Mar. 25 is 95.2. cfFor description of these indexes, see p. 4 of the Dec. 16,1937 issue. 20 12 13 87.8 77.6 108.8 91.2 71.1 72.2 74.7 74.1 24.2 24.2 24.2 28.6 28.6 28.6 28.6 130.5 130.5 131.7 131.6 75.4 57.4 -J.1 121.1 38.4 164.9 54.2 75.3 63.0 88.6 120.9 37.6 162.4 50.5 130.3 109.9 134.1 132.7 50.8 165.5 146.0 133.1 110.6 134.6 132.8 47.9 161.9 143.4 71.7 38.1 60.4 30.3 64.0 31.5 60.8 28.1 72.9 44.0 50.8 24.4 71.2 44.4 77.3 19.0 ^Seasonally adjusted. WEEKLY BUSINESS STATISTICS* 1939 Mar. 4 1938 Mar. 18 Mar. 11 Feb. 25 Feb. 18 Feb. 11 Mar. 19 0.110 0.110 .092 2.34 36.39 0.110 .091 2.33 0.110 .089 2.32 36.38 .71 0.110 .089 2.31 36.38 .68 0.110 .090 2.30 36.3fi 4,112 4,011 3,755 3,548 4,462 2,638 3,284 2,841 3,637 2,595 2,564 9,077 3,443 2,565 2,564 8,985 3,407 2,586 2,564 8,942 3,382 2,592 2,564 8,841 16,143 5,198 13,541 8,280 16,086 5,224 13,450 8,176 15,965 5.202 13,408 8,143 2,023 8,281 2,030 8,338 3,794 1.00 1.25 2.649 4.685 1937 1936 Mar. 12 Mar. 20 0.098 .086 2.48 38.78 .91 0.098 .090 2.49 38.83 .92 0.160 .145 3.01 40.10 1.37 0.154 .145 2.99 0.090 .114 2.59 33.05 1.05 3,385 3,793 3,747 4,077 3,130 3,597 5,127 5,048 4,121 4,229 5,247 4,332 2,587 2,564 8,707 3,166 2,584 2,564 9,018 3,459 2,608 2,564 7,328 1,460 2,594 2,564 7,311 1,467 2,450 2,430 6,830 1,449 2,454 2,430 6,749 1,380 2,485 2,430 5.144 2,393 16,094 5,189 13,426 8,184 15,951 5,181 13,403 8,182 16,077 5,185 13,280 8,171 14,335 5,223 12,255 8,089 14,514 5,258 12,242 8,081 15,541 5,128 13,361 8,828 15,649 5,147 13,541 9,024 13,771 4,922 13,387 8,865 2,019 8,186 1,993 8,180 1,975 8,205 1,807 8,179 1,164 5,889 1,152 9,020 1,213 9,337 1,203 9,260 1,257 8,250 3,773 1.00 1.25 3,773 1.00 1.25 3,766 1.00 1.25 3,761 1.00 1.25 3,745 1.00 1.25 4,335 1.00 1.25 4.342 1.00 1.25 1.00 1.25 1.00 1.25 .75 1.00 2.647 2.649 214 6,752 * 217 6,711 2.648 4.686 224 6,697 2.647 4.686 261 6,fi81 3.070 4.970 249 3.192 5.008 287 6,337 4.590 4.886 200 6,393 4.575 4.883 178 6.763 2.651 4.690 258 6,755 6.634 4.969 228 5,857 40,060 3.72 5,593 103.09 89.8 105.1 86.4 29.5 51,220 3.73 5,561 105.94 95.0 111.8 88.3 31.7 43,850 3.78 4,641 103.83 92.5 108.9 86.5 30.4 26,500 3.81 3,365 101.05 89.6 105.6 84.1 27.9 25,820 3.81 2,860 101.89 90.5 106.9 84.2 27.9 30,530 3.82 3,536 101.73 91.1 107.4 85.2 28.5 39,310 4.34 4,874 87.16 77.4 92.3 68.0 24.6 36,180 4.23 3.445 88.67 79.6 94.8 69.5 26.7 107, 310 3.90 10.365 137.11 129.5 151.8 105.0 64.5 118,290 3.82 14.545 140.48 132.4 155.7 106.8 64.3 61.580 3.96 10,568 120.84 107.8 123.7 102.1 48.2 86,725 84,095 1,333 2,238 3,353 55.1 78,705 1,407 2,244 3,315 55.8 11,376 75,660 1,453 2,226 3,329 53.7 11,144 79,860 1,418 2,249 3,324 54.8 8,967 84,500 1,433 2,268 3,284 53.4 57,555 977 2,018 3,434 32.1 5,969 57,438 1,073 2,015 3,382 29.9 7,858 99,450 1,871 2,211 3,448 88.9 7,509 101,563 1,883 2,213 3,373 87.3 8,085 95,223 975 1,862 2,836 60.0 7,660 591,691 125,280 25,927 31,211 10,175 152,422 7,559 239,117 598,691 136,543 24,446 32,344 9,637 153,420 8,979 233,322 560,609 138,732 25,484 28,885 9,935 133,965 7,884 215,724 580,071 137,080 24,387 28,587 11,120 148,250 8,944 221,703 579,918 142,358 23,539 9,700 148.404 8,429 218,679 540,332 92,248 26,443 30,452 11,524 150,821 7,895 220,949 556,730 110,401 27,613 31,429 10,954 150,694 8,722 216,917 754,922 184,405 37,285 29,079 ll,7f>8 171,430 10,941 310,014 744,499 178,330 38,662 28,387 11,487 169,817 10,128 307,688 568,851 91,478 30,149 32,287 12,192 146, 682 5,858 250,205 168 214 90 3.083 163 215 91 3,820 172 234 82 2,196 172 258 86 1,898 166 2J1 118 2,416 226 247 157 2,408 202 204 15S 2,233 230 286 132 Mar. 13 Mar. 21 COMMODITY PRICES, WHOLESALE Copper, electrolytic, New York %. dol. per lb_. Cotton, middling, spot, New York__. do Food index (Bradstreet's) do Iron and steel, composite.._ _ dol. per ton.. 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 loans? percent.. Interest rates, time loanst do_... Exchange rates: French franci cents.. Pound sterling? -.dollars.. Failures, commercial _ number,. Currency in circulation! mil. of dol... Security markets: Bond sales (N. Y. S. E.) thous. of dol. par value.. Bond yields (Moody's) (120 bonds)} __..percent. Stock sales (N. Y. S. E.) thous. of shares.. Stock prices (N. Y. Times)% dol. per share.. Stock prices {Standard Statistics) (420).____. 1926=100.. Industrials (348) _ do.._. Public utilities (40) do.__. Railroads (32) _ ...do ... PRODUCTION, CONSTRUCTION, AND DISTRIBUTION Production: Automobiles. number.. Bituminous coal*.. thous. of short tons.. FJectric power mil. of kw.-hr.. Petroleum!. thous. of b b l Steel ingots® _ pet. of capacity.. Construction-contract awardst thous. of dol.. Distribution: Freight-car leadings, total _ cars Coal and coke _ _ .do.. Forest products _ do.. Grains and grain products deLivestocks do.. Merchandise, 1. c. 1 do.. Ore _ do.. Miscellaneous .do Receipts: Cattle and calves _ thousands Hogs __ _ _ do_ Cotton into sight thous. of bale_. "Wheat, at primary markets thous. of bu_. 2.29 36.39 259 3,384 55.7 103 2,891 1.941 •Data do not cover calendar weeks in all cases. JDaily average. ®Rate for week ended Mar. 25 is 55.4. §No longer stncly comparable; for an explanation, see the corresponding data in the forthcoming April 1939 issue of the Survey. 225 * 288 201 1,582 224 296 8fi 2,454 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 1933 Supplement to the Survey 1939 February 1939 1938 February March April May June July August Septem- October Novem- December ber ber January BUSINESS INDEXES Page 9 Marketings: Agricultural products (quantity): Combined index 1923-25=100.. Animal p r o d u c t s . . ..do Dairy products do Livestock.. _ do Poultry and eggs ...do Wool ___do^Crops ..do Cotton— do Fruits do Grains do Vegetables ...do Agricultural products, cash income from farm marketings: Crops and livestock, combined index: Unadjusted 1924-29=100.. Adjusted do Crops do Livestock and products do Dairy products— do.... Meat animals.. _do-__. Pd^,^ __.-- _ ___ _ d p . _ __ 72 75 101 63 97 46 59 111 72 79 106 59 116 106 64 42 93 63 107 77 93 134 66 119 303 61 22 88 72 117 89 87 78 116 160 108 154 79 85 67 76 81 91 67 116 68 71 78 85 62 61 92.0 67.5 55.5 80.0 86.0 77.5 -77.5 78.0 69.5 55.5 84.0 85.5 83.5 -83.-5 72.5 68.0 55.0 82.0 89.5 78.0 -81:0 78.1 77.8 78.6 77.5 155 46 117 83 137 75 68 76 152 235 90 110 87 131 89 114 85 76 139 174 267 113 128 72.0 82.5 86.5 78.5 82.0 SO.O -75.0 72.5 72.0 63.0 8L0 84.5 82.0 -75.5 85.0 72.5 61.0 84.5 86.5 87.0 -75.5 80.2 80.0 78.4 78.7 92 85 136 60 79 487 100 19 81 205 63 92 89 153 72 73 317 61.0 72.0 66.5 77.0 SO. 5 76.5 —76,0 73 90 156 62 102 333 56 19 77 68 116 65 77 97 73 80 41 53 37 82 51 77 r 68. 5 '67.5 '55.5 ' 80. 0 '88.5 79.0 ;67.0" 51.0 60.0 44.5 76.5 85.5 77.5 56.5 54.0 62.5 49.0 76.5 95.5 75.0 60.5 67.0 55.0 79.5 92.5 77.5 58.0 70.5 60.0 81.5 88.5 75.0 6S-IL 60.5 67.5 58.0 77.5 84.5 71.5 -75.5. 76.8 78.4 78.6 79.4 79.1 76.9 79.8 79.7 78.7 78.1 78.3 78.8 78.1 78.3 77.6 77.5 77.0 76.9 80.2 70.9 74.4 67.2 71.5 83.3 73.6 76.1 69.8 73.5 83.4 73.2 75.6 70.3 73.5 82.7 71.3 75.3 68.4 72.3 82.1 70.7 75.4 67.5 72.1 82.2 71.4 74.1 68.7 73.1 82.5 72.3 74.3 69.4 74.3 81.8 71.4 74.4 67.3 73.0 81.8 72.0 74.7 68.1 74.5 81.1 70.9 75.9 66.8 73.5 80.5 71.5 76.2 67.8 74.1 80.2 70.9 75.2 67.6 73.1 80.0 70.9 74.9 67.2 71.5 COMMODITY PRICES Pages 11,12,13,15,131,134 Retail prices: U. S. Department of Labor Indexes: Food -.1923-25=100.. Wholesale prices: U. S. Department of Labor indexes: Combined index (8l3quotations).1926^100_. Economic classes: Finished products— ..do— Eaw materials do— Semimanufactures do— Farm products do— Foods. do— Commodities other than farm products and foods 1926=100. Pig iron: . Basic (valley furnace) do1., per long t o n Composite do— Foundry, No. 2, northern (Pittsburgh) dol. per long ton., Composite, finished steel dol. per lb.. Steel billets, rerolling (Pittsburgh) dol. per long ton.. Structural steel (Pittsburgh)..dol. per lb.. Steel scrap (Chicago).~dol. per gross ton. Purchasing power of the dollar: Wholesale prices 1923-25=100. Retail food prices do... Prices received by farmers.. do... 80.2 83.0 82.6 82.0 81.6 81.3 81.4 81.4 81.3 81.1 80.6 80.3 80.2 20.50 21.15 23.50 24.11 23.50 24.11 23.50 24.13 23.50 24.15 22.50 23.59 19.50 20.15 19.50 20.15 19.75 20.29 20.50 21.14 20.50 21.15 20.50 21.15 20.50 21. If 22.89 2f. 89 25.89 25.89 25.89 24.89 21.89 21.89 22.14 22.89 22.89 22.89 22.89 .0268 .0289 .0289 .0289 .0286 .0268 .0268 .0266 .0268 .0268 .0268 34.00 .0210 14.06 37.00 .0225 12.69 37.00 .0225 12.15 37. CO .0225 11.38 37.00 .0225 10.95 36.25 .0221 10.38 34.00 .0210 12.00 34.00 .0210 13.75 34.00 .0210 13.50 34.00 .0210 12.88 34.00 .0210 14.20 34.00 .0210 13.75 34.00 .0210 13.85 130.9 130.2 159.7 126.2 127.6 151.5 126.4 127.2 153.1 128.0 125.9 156.5 128.9 126.4 159.7 128.6 124.7 159.7 127.8 125.0 154.8 128.9 127.6 159.7 128.6 127.1 154.8 129.8 128.0 154.8 129.9 128.5 156.5 130.8 127.2 153.1 130.9 129.0 156.5 83,653 98,519 20,301 21,331 63,352 77,188 4,340 3,031 1, 556 1,869 16,253 13,028 '55,039 "15,424 86,102 20,808 65,293 2,623 1,201 12,175 49,295 103,869 21,376 82,493 2,366 1,209 15,8*8 "63D3r 113,558 22,411 91,147 4,932 1,732 18,411 "667073 113,457 20,233 93,314 6,608 1,449 18f 749 "66,509 118,096 20,372 97,723 3,581 1,574 14,028 "78,540 87,418 19,556 67,861 2,446 2,301 .12,771 50,343 DOMESTIC TRADE Pages 26, 30 Advertising: Newspaper advertising: Lineage, total (52 cities) thous. of lines. Classified -. do... Display, total do... Automotive _ do... Financial.. do... General do._. Rfttail.. -~w—« 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... 86, 651 38,318 68,333 3,458 1,403 14,024 -49,-448 88,467 108,919 109,917 22,646 23, 404 19,187 87,271 85, 514 69, 270 4,347 2,611 5,081 1,459 1,493 1,918 17,505 15, 273 17,544 42 -60,-1*71 ~ 63,960 109,906 22, 695 87,211 5,676 1, 396 18, 310 "617830 24,964 34,901 21.765 30,449 30, 797 41,071 37,063 44,857 36,150 43,463 35, 745 43.82C 29,075 36, 316 32,849 38,556 49,167 46,667 53,345 42,295 51,215 57,085 68, 622 24,769 33, 551 100.1 110.6 90.4 99.9 98.4 105.8 107.9 112.3 103.5 110.1 106.2 112.4 84.8 110.2 98.2 114.2 121.1 122.4 140.9 115.5 147.2 119.7 183.6 129.3 91.3 110.0 766 25 577 164 589,407 41,671 174,092 373,644 878 20 656 202 672,142 33,050 198,025 441,067 S33 16 643 175 617,475 37,815 193,131 386,529 892 24 648 220 618,807 43,076 191,648 384,0S3 784 30 580 174 597,773 45,076 170,312 382,385 720 12 511 197 528,452 18, 659 153,392 356,401 712 18 518 176 550,960 33,443 156,304 361,213 760 16 582 161 519,932 24,924 173,641 321,367 822 24 598 200 592,432 32.2S8 179,553 380,591 865 34 60S 223 671,262 43,754 182,690 444,818 1,089 71 755 264 974,920 91,294 226,085 657,541 648 30 357 262 729,954 51,899 99,363 578,692 02.0 94.7 110.6 113.6 109.6 77.9 80.9 77.4 28.8 30.0 28.1 ® 40 companies having 82 percent of total life insurance outstanding in all United States legal reserve companies. 91.8 109.3 81.2 29.8 FINANCE Pages 60, 77 Life insurance (Ass'n. of Life Insurance Presidents) : Insurance written:® Policies a n d certificates, total number thousands. _ 675 Group do 23 Industrial _ do 399 252 Ordinary do.. . Value, total . . t h o u s . of d o l . . 570,448 Group __ do 40,322 Industrial do 109,871 Ordinary _do. 420, 255 Security markets: Stocks: Standard Statistics Co., I n c . : 90.1 Combined index (420stocks).,1926=100.. 106.3 Industrials (348 stocks) _. do. 83.8 Public utilities (40 stocks) do. 28.0 Rails (32 stocks) do. * Revised. 80.7 95.7 71.2 28.3 77.9 92.7 68. 5 25.5 70.7 84.2 64.0 20.9 73.9 87.4 69.5 21.8 73.1 86.4 69.2 20.5 88.0 105.3 76.5 27.3 89.5 108.0 75.0 27.8 86.0 103.9 72.2 25.5 MONTHLY BUSINESS STATISTICS—Continued Monthly statistics through December 1937. together with explanatory notes and reference! to the sources of the data, may be found in thi 1938 Supplement to the Survey FOODSTUFFS Pages 106, 10S, 110, 111, 112, 115 Grains and grain products (principal markets): Corn: Receipts .thous. of bu. Shipments do. Oats: Receipts do. Wheat: Receipts _ do... Shipments do—Stocks, cold storage, end of month: Butter, creamery .-thous. of lb_, Cheese (total) __.do. Case thous. of cases. Frozen thous. of lb. Fish, total (15th of month) do.... Total meats ..mil. nf 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: Receipts, principal markets thous. of animalsDisposition: Local slaughter . do._. Shipments, total do Hogs: Receipts, principal markets do~_ Disposition: Local slaughter do~Shipments, total do Receipts, principal markets Disposition: Local slaughter Shipments, total do do.... do 1939 February February March April May June July August 10,216 5,398 17,971 11,760 23,558 12,921 29,948 24,367 31,867 38,706 28,104 27,987 26,573 27,017 17,419 18,061 3,609 9,703 24,669 10,128 7,707 16,984 101,195 14,277 26,726 61,080 25,258 38,477 23,291 27,345 23,797 PAPER AND PRINTING Pages 145,146 Newsprint: Canada: Production short tons. Shipments from mills do... Stocks, at mills, end of month do... TJnited States: Production do Shipments from mills do Stocks, at mills, end of month do October No v e m b e r " 45.157 18,994 32,698 16,356 De b <£ m * 20,262 10,969 January 4,304 3,933 4,730 4,381 5,267 4,199 5,658 14,373 8,827 6,221 9,512 9,251 8,542 10,395 10,642 10,458 10,875 13,778 14,274 17,090 19,110 21,696 14,892 18,252 11,900 12,758 92,800 91,625 21,033 85,656 19,574 76,289 54,594 120,351 172,622 201,252 210,703 194,285 159,254 91,160 114,788 134,351 150,248 140,755 132,326 127,440 128,872 120,174 111, 354 106,411 164 44,478 62,109 785 46,727 668,175 542,803 125,372 2,764 67 116,300 2S1 88,754 62,184 838 57,023 14,387 77,042 1,303 9f>, 475 45, 694 789 50,501 665,263 543,947 121,316 2,901 70 78,819 582,654 116,979 3,522 78 100,493 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 33,601 574,097 450.516 123,581 2,125 62 52,049 6,255 138,510 55f 039 642 33,730 543,770 417,704 126,066 2,148 62 53,432 6,411 135,329 66,716 601 35,925 502, 658 378,981 123,677 1,972 61 52,640 17,240 9,942 302 1,439 136 3,244 4,765 5,942 125,018 110,244 94,305 78,091 62,903 ' 50,345 75,882 84,537 85,665 93,024 ' 90,711 77,003 484 459 548 '791 671 413 34,467 36,943 41,218 52,637 58,187 ' 53,126 451,397 367,177 319,312 373, f>41 537,525 658,489 334,777 277,231 251,645 299,142 430.104 526,411 116,620 89,946 67,667 74,499 107,421 132,078 2,606 2,318 1,861 3,541 '2,925 M 50 53 60 76 72 54,941 59,942 77,692 135.10S 133,531 22 118,088 1,294 ' 1,313 1,626 1,502 1,681 1,605 1,630 1,946 2,017 2,306 1,900 1,465 1,635 807 496 863 "445 1,013 605 920 576 1,021 632 995 615 952 659 1,103 821 1,061 950 1,122 1,120 989 927 843 632 975 60S 1,971 1,962 1,895 1,724 1,890 1,757 1,570 1,797 1,881 2,255 2,607 2,570 2,699 1, 1,331 626 1,334 557 1,206 517 1,333 548 1,249 500 1,122 444 1,323 465 1,397 479 1,660 587 1,903 691 1,848 726 1,928 754 566 1,546 1,713 1,739 1,938 2,409 1,929 1,964 2,664 2,986 2,805 1,945 1,552 1,746 953 1,058 663 1,067 670 1,079 853 1,274 1,129 1,080 862 979 992 1,146 1,495 1,174 1,786 1,124 1,673 996 890 673 1,063 677 1,000 1,471 2,638 2,195 1,127 1,617 2,831 2,125 870 1,381 2,506 1,827 865 1,409 2,371 2,010 1,032 1,457 2,675 2,184 1,222 1,407 2,394 2,308 1,349 1,764 2,755 3,226 1,066 1,717 2,336 2,716 1,100 1,755 2,525 2,822 ' 1,138 1,786 '2,634 2,872 1,277 1,882 3,245 1,315 1,931 3,185 2,795 15,118 10,968 4,150 14t 576 10,589 3,987 14,052 10,308 3,744 13,874 10,193 3,681 13,967 10,223 3,744 13,865 10,014 3,851 13,331 9,666 3,665 13,244 9,540 3,704 13,440 M3,S35 9,665 ' 10,074 3,775 ' 3 , 8 1 1 13,996 10,301 3,695 14,031 10,289 3,742 75.7 107.0 90.3 66.7 70.2 120.9 117.4 112.2 146.5 150.8 202,601 224,604 200,794 207,678 201,694 202,546 220,303 231,940 254,872 245, 295 209,753 162,906 182,687 214,182 193,288 208, 476 205,490 204,668 230, 346 255,100 264,421 225,472 146,089 183,0C6 174,618 189,008 182,226 179,282 194,917 196, 511 196,283 177,157 161,438 208,382 201,852 167,968 LEATHER AND PRODUCTS Page 124 Leather: Production: Calf and kip thous. of skins. Cattle hides thous. of hides.. Goat and kid thous. of skins.. Sheep and lamb do Stocks of cattle hides and leather, end of month: Total thous. of equiv. hides. In process and finished do— Raw do— METALS AND MANUFACTURES Page 140 Machinery and apparatus: Machine tools, orders, new av. mo. shipments 1926= '100- 1939 1938 167.1 200,631 178, 236 190,363 70,868 71,926 21,822 61,357 62,480 24,801 67,864 66,138 26,527 58,836 57,348 28,015 68,001 66,197 29,819 65,382 66,204 28,997 63,278 69, 718 22,557 67,436 66,006 23,987 68,315 74,336 17,966 118.1 72,827 72,203 18,590 78,390 76,278 20,702 75,855 77,974 18,583 77,264 72,967 22,880 TEXTILE PRODUCTS Pages 154,155 Cotton: Consumption bales.. 562,293 426,866 512,626 413,169 426,149 443,043 448,453 561,406 534,037 542,778 596,289 565,307 591,991 290 361 264 481 465 389 399 196 176 377 201 193 426 Exports (excluding linters)--.thous. of bales.. 12 11 8 14 11 11 19 25 15 19 18 20 14 Imports (excluding linters) do Stocks, end of month: 16,409 15,628 17,028 14,121 17,292 12,187 10,878 10,908 11,633 13,283 16,820 11,138 12,710 Domestic, total _ do 1,559 1,627 1,697 1,714 1,107 1,808 1,263 1,581 1,768 1,507 1,053 1,412 1,700 Mills do— 9,646 9,726 9,826 13,013 15,313 15,578 15,331 14,782 Warehouses do.—. 14,069 11,475 10,942 10,487 10,052 Spindle activity:f 22,449 22,445 22,440 Active spindles thousands- 22,525 22,347 22,291 21,773 21,342 21,142 21,915 22,153 22,189 22,114 7,171 5,459 6,508 5,587 5,925 5,264 7,641 7,187 7,575 6,613 7,375 7,118 Active spindle hours, total.,.mil. of hours. 277 245 210 225 214 198 252 206 295 277 291 273 280 Average per spindle in place hours.. 66.6 70.2 60.8 76.1 59.4 59.5 87.8 85.7 82.3 83.6 81.9 76.2 Operations pet. of capacity.. TRANSPORTATION EQUIPMENT Page 160 Automobiles: Production: Canada, total number.. 14,300 16,066 16,802 18,819 18,115 14,732 6,452 9,007 17,992 18,670 14,794 5,774 Passenger cars do—- 10,914 11,753 12,276 14,033 13,641 11,014 3,063 15,423 15,518 11,404 5,412 5,273 4,290 United States (factory sales), total...do 297,841 186,531 221,795 219,310 192,059 174,670 141,443 90,494 83,534 209,512 372,413 388,346 339,152 Passenger cars do 239,983 139,380 174,065 176,078 154,958 136,531 106,841 58,624 65,159 187,494 320,344 326,006 280,040 Trucks . . d o . . . . 57,858 47.151 477d0 43,232 37,101 38.139 34,602 31,870 18,375 22,018 52,069 62,340 59,112 r Revised. Data for January are the latest available. on the basis of a 2-shift week; figures not given on p. 54 of the October 1938 Survey a shown in a subsequent issue.