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SURVEY OF CURRENT BUSINESS WEEKLY SUPPLEMENT UNITED STATES DEPARTMENT OF COMMERCE BUREAU OF FOREIGN AND DOMESTIC COMMERCE WASHINGTON, D. C, MAY 25, 1939 SUMMARY OF BUSINESS TRENDS reports from the automobile industry have indicated R ECENT some increase in activity with production last week up 8,000 units to 80,000 cars and trucks. Retail sales of new passenger cars are holding at a relatively high rate and are much larger than at this time last year. Other retail trade reports also show substantial gains from the 1938 volumes. Since retail trade last May was at the low point of the 1937-38 recession, the larger gains from a year ago recently occurring in retail volumes do not indicate significant changes in the current level of consumer purchasing. The Federal Reserve adjusted index of departmentstore sales, whichJias moved around 88 (1923-25—100) for the past 6 months, was declining last year from 86 in March to 83 in April and to 78 in May. Railway freight traffic has begun to reflect the resumption of bituminous coal mining after total carloadings had been lowered for 6 weeks by reason of the restricted coal shipments. The freight movement in the important miscellaneous classification has been sustained in recent weeks although the full seasonal increase was not experienced during April. In the first 2 weeks of May, loadings of miscellaneous freight were 14 percent larger than a year ago. Shipments of forest products have moved upward at a more-than-seasonal rate since March, reflecting, in part, the rise in residential building. Production in the lumber industry has recently been about one-fourth larger than in the comparable weeks of last year. Heavy purchases of light rolled steel products have been made by leading consumers in recent weeks as a result of the lower prices that have prevailed for sheets and strips. Automobile manufacturers were reported to have covered a large part of requirements for the 1940 models. Steel-mill operations will depend on the issuance of specifications against these orders and the setting of delivery <Iatc3 by the purchasers as immediate shipment is not required on much of the tonnage ordered. However, production of steel ingots which had declined to 45.4 percent of capacity last week was advanced to 48.5 percent for the current week. Industrial commitments in commodities other than steel have apparently changed but little from the recent restricted volumes. Moody's index of 15 important raw materials averaged 144 (December 31, 1931=100) last week as compared with 139 in the final week of April. Quotations of wheat, hides, and cotton have increased moderately and the rise in raw silk prices has been extended. SELECTED BUSINESS INDICATORS STEEL INGOT PRODUCTION Of SHORT (M00DY.S INDEX- DEC. 31, 1951= .I.0O) (BILLIONS Of KILOWATT HOURS) CONSTRUCTION CONTRACTS - F W. DODGE BITUMINOUS COAL PRODUCTION (MILLIONS SPOT COMMODITY PRICES ELECTRIC POWER PRODUCTION (PERCENT OF CAPACITY) PRICES OF 3 5 0 INDUSTRIAL STOCKS (DAILY AVERAGE AWARDS " MILLIONS OF DOLLARS) TON5) (INDEX, 1926 = 100) 1601 AUTOMOBILE PRODUCTION (THOUSANDS YIELDS OF 120 CORPORATE BONDS FREIGHT CAR LOADINGS OF VEHICLES) (PERCENT) (THOUSANDS OF CARS) A CRUDE OIL RUNS-TO- COMMERCIAL FAILURES MISCELLANEOUS CAR LOADINGS (MILLIONS OF BARRELS-PAILY AVERAGC (THOUSANDS (NUMBER? OF CARS } 3.8 400 ?50 3.6 350 >00 54 500 3.2 250 3.0 200 l>0 Z8 f50 100 100 ^0 2.6 149824—30 „ ^P^V^/s ms A tT . V 200 '937—V T JIM 1 1 1 i i i t WEEKLY BUSINESS INDICATORS [Weekly average 1923-25=100] 1937 1938 1939 May May May Apr. Apr. May May May May 22 15 20 13 6 29 22 21 14 1937 1938 1939 May May May Apr. Apr. May May May May 15 20 13 6 29 22 21 14 22 Business activity:^ 1 New York TimesSc? -. Barron'so* Business Week Commodity prices, wholesale: Dept. of Labor, 1926=100: Combined index (813) Farm products (67). Food (122) Allother (624).__ Fisher's index, 1926=*100: Combined index (120) Copper, electrolytic! Cotton, middling, spot 76.0 76.3 109.2 108.8 85.3 86.3 86.7 70.4 79.0 83.4 81.6 68.0 68.6 111.6 111.3 90.5 91.8 94.5 94.3 75.3 76.0 121.5 121.3 7fi. 76.1 76.0 78.2 77.8 87.4 86.9 63.9 68.8 67.4 91.2 89.3 63.6 72.9 71.5 85.1 84.2 68.3 81.7 81.9 86.3 86.3 80.9 80.8 81.4 SO. 8 93.5 92.7 79.9 79.9 71.0 71.0 100.0 100.0 71.0 71.7 72.5 71.7 31.3 32.4 48.9 48.5 36.0 34.6 34.2 33.8 76.4 64.4 68.5 81.0 Construction contracts* Distribution: Carloadine;s 57.9 59.7 Employment: Detroit, factoryFinance: Failures, commercial—_ 58.2 67.8 59.2 65.7 65.5 66.2 Bond yields! 94.9 96.6 96.0 Stock prices! - 88.1 69.0 52.8 52.1 78.8 50.6 61.1 58.3 56.9 56.5 80.8 80.3 130.6 65.1 96.0 67.1 65.8 59.7 63.1 48.9 66.6 66.7 73.5 73.3 67.8 94.3 93.9 83.7 85.7 131.5; Finance—Continued. Banking: 88.2 85.5 76.8 100.5 95.0 Debits, outside N . Y . C.I 89.8 82.5 96.2 Federal Reserve reporting member banks: 64.4 64.7 616 64.8 65.0 67.3 67.6 76.0 76.3 Loans, total Interest rates: Call loans! _.j 24.2 24.2 24.2 24.2 24.2 24.2 24.2 24.2 24.2 28.6 28.6 28.6 28.6 28.6 28.6 28.6 28.6 28.6 Time loans! 142.4 142.4 142.6 141.8 141.5 132.0 132.0 132.0 132.2 Currency in circulation! Production: I 105.0 Automobiles 93.6 113.6 118.3 64.6 64.8 167.0 182.8 Bituminous coalt 10.7 27.0 35.5 28.1 50.2 49.1 72.4 70.7 Cotton consumption^ ; 113.9 110.7 112.1 83.6 79.0 136.4 139.2 130.3 129.9 131.0 132.0 118.1 118.1 132.0 131.7 Electric powert —!j Lumber... 65.4 62.1 48.1 49.2 48.9 46.7 40.0 163,4 171.9 171.3 169.3 152.5 161.4 170.5 170.5 Petroleum! _ _..; Steel ingots© __i 78.0 80.7 82.1 83.5 87.4 51.8 51.3 147.8 149.8 Receipts, primary markets: Cattle and calves 62.7 61.4 63.4 52.7 74.7 64.1 76.3 72.1 Hogs. _ 37.2 38.5 39.8 36.3 39.1 37.4 26.0 30.5 Cotton _ 27.7 26.5 17.7 26.9 23.5 28.8 216 40.8 26.2 80.0 68.0 59.8 56.1 48.0 44.5 40.0 Wheat _. 20.0 - JDaily average. •— •—•'—•- f Weekly average,'1928^30=100. cfFor description of these indexes, see p. 4 of the Dec. 16,1937 issue. • Data do not cover calendar weeks in all cases: ' "§Computed normal—100. ^Seasonally adjusted. ©Index for week ended May 27 is 83.3. WEEKLY BUSINESS STATISTICS* 1939 COMMODITY PRICES, WHOLESALE Copper, electrolytic, New York !__ dol. perlb.. Cotton, middling, spot, New York do Food index (Bradstreet's) _ do.... Iron and steel, composite dol. per ton,. Wheat, No. 2 hard winter (KansasCity) dol. per bu., Banking: FINANCE Debits, New York City mil. of dol.. Debits, outside 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.. I^oans, t o t a l | do Commercial, industrial, and agricultural loans § mil of doL. Interest rates, call loans? ~ percent... Interest rates, time loanst •do Exchange rates: French franc! cents.. Pound sterling! „ dollars.. Failures, commercial _ number. Currency in circulation! mil. of dol. Security markets: Bond sales (jV. 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)t dol. per s h a r e Stock prices (Standard Statistics) (420) 1926=100 Industrials (350).... do Public utilities (40)... _ do Railroads (30) do. PRODUCTION, CONSTRUCTION, AND DISTRIBUTION Production: Automobiles : number. Bituminous coalj.. thous. of short tons.. Electric power mil. of kw.-hr.. Petroleum! 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_. May 20 May 13 0.098 .098 2.27 35.63 .76 0.099 .094 2.28 35.72 .75 3,340 4,161 1937 1936 Apr. 29 Apr. 22 Apr. 15 May 21 May 14 May 22 May 15 0.100 .093 2.27 36.21 .75 0.099 .092 2.27 36.26 .71 0.103 .089 2.28 36.29 .69 0.105 .087 2.28 36.32 0.098 .085 2.35 38.50 .82 0.098 .088 2.34 38.52 .82 0.138 .133 2.86 39.97 1.32 0.138 .132 2.84 40.05 1.30 0.093 .117 2.57 32.87 .94 2,930 3,830 4,136 4,465 2,831 3,832 3,270 4,091 2,714 3,672 2,937 3.967 3,064 3,566 3,400 4,663 3,550 4,403 3,389 4,072 2,576 2,564 10,005 4,244 2,575 2,564 9,967 4,186 2,572 2,564 9,872 4,084 2,580 2,564 9,903 4,124 2,591 2,564 9,743 2,584 2,564 9,528 3,879 2,589 2,564 7,622 2,555 2,589 2,564 7,560 2,483 2,565 2,526 6,918 907 2,576 2,526 6,943 2,470 2,430 5,694 2,860 16,681 5,247 13,563 8,304 16,719 5, 249 13,634 8,334 16,660 5,248 13,714 8,341 16,742 5,235 13,675 8,270 16,619 5,213 13,684 8,273 16,388 5,212 13,571 8,213 14,569 5,209 12,271 7,979 14, 598 5,207 12,359 8,017 15,425 5,205 12,677 8,314 15,376 5,201 12,665 8,323 14,390 5,043 13,446 8,868 2,031 8,046 2,010 8,085 2,026 8,071 2,030 8,100 2,030 8,124 2,038 8,120 1,364 S,40S 1,162 9,500 1,164 9, M0 1,285 8,333 3,845 1.00 1.25 3,852 1.00 1.25 3,841 1.00 1,25 3,844 1.00 1.25 3,858 1.00 1.25 3,852 1.00 1.25 4,074 1.00 1.25 1,344 8,451 4,110 1.00 1.25 4,205 1.00 1.25 1.00 1.25 1.00 1.25 2.649 4.681 237 2.649 4.681 276 6,916 2.649 4.681 241 6,923 2.648 4.681 273 6,885 2.648 4.680 268 6,871 2.647 4.680 265 6,856 4.965 243 4.974 4.468 4.942 199 6,409 4.940 196 6,420 4.971 181 5,909 25,080 28,290 3.78 2, 655 93.79 83.6 97.6 82.8 25.4 26,340 3.82 2,639 93.23 83.1 97.2 81.6 24.9 24,190 3.84 2,858 91.57 81.0 94.6 80.5 24.1 , 24,880 3.85 2,467 91.16 80.0 93.6 78.9 23.7 35,440 3.88 6,523 89.78 79.3 92.8 77.8 23.6 26,480 4.24 2,427 81.24 74.8 88.5 70.2 22.0 37,010 4.23 4,475 83.22 76.6 90.3 72.7 23.2 40,270 3.91 5,063 127.74 114.3 134.4 91.2 57.2 47,060 3.90 5,546 127.77 116.6 136.9 94.2 57.7 45,180 3.95 4,376 118.69 101.0 116.1 95.3 45.1 72.375 183 2,171 3,403 47.0 71,420 459 2,164 3,581 47.8 86,640 605 2,183 3,568 48.6 14,147 90,280 479 2,199 3. 527 50.9 11,073 88,0.50 353 2,171 3,495 52.1 12,659 49,310 855 1,968 3,176 30.7 8,481 49,415 837 1,968 3,362 30.4 8,365 127,438 1,233 2,199 3,550 90.0 12,655 139,507 1,204 2,195 3,552 91.2 8,132 110,845 1,142 1,955 3,007 69.4 9,613 555,396 47,677 30,573 34,370 12,783 152,161 24,928 252,904 572,857 66,104 30,127 34,019 13,875 153,803 16,612 258,317 586,015 80,998 29,231 35,231 14,106 153,424 15,890 257,135 558,706 73,459 28,456 30,759 13,309 152,032 12,813 247,878 547,816 60,883 28,024 30,932 12,483 154,129 11,259 250,101 545,808 91,312 25,8T1 32,160 13,367 148,767 14,103 220,228 541,808 85,477 26,354 32,226 12,166 148,845 12,971 223,769 775,074 127,376 41,579 25,705 13,698 170,312 72,281 324,123 769,560 126,362 39,287 26,476 12,545 170,215 71,095 323,580 683,590 114,351 33,414 31,350 11,163 162,094 46,856 284,372 198 242 69 5,411 194 250 46 4,758 200 258 70 4,461 166 235 61 3,817 177 224 82 4,022 236 254 75 3,543 203 243 64 3,183 241 169 106 1,898 228 198 68 1,596 213 225 86 3,159 6,916 3.79 2,501 92.16 81.1 94.5 81.2 24.0 80,145 45.4 72 6,362 May 6 1938 2.794 6,408 2.832 257 6,411 4.481 ®Rate for week ended May 27 is 48.5. JDaily average. • Data do not cover calendar weeks in all cases, §No longer strictly comparable; for an explanation, se i the corresponding data on page 30 of the April 1939 issue of the Survey, May 23 6.584 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 April 1939 1938 1939 April May June July Novem- Decem- January FebruOctober August Septemary ber ber ber March BUSINESS INDEXES Page 9 Marketings: Agricultural products (quantity): Combined index 1923-25=100.. Animal products -_.~ . 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=100Adjustcd do Crops -do---Livestock and products.. do Dairy products do Meat animals do- -. Poultry and eggs do COMMODITY PRICES Pages 11,12,13, 15,131,134 Cost of living (Ar..J. C. B.): Combined index 1923=100.. Clothing do -__ Food do --. Fuel and light — . . . . d o -„Housing do Sundries ~ do-_.~ Retail prices: U. S. Department of Labor Indexes: Food 1923-25=100.. Wholesale prices: U. S. Department of Labor indexes: Combined index (813 quotations) .1926=100. Economic classes: Finished products— do Farm nroducts * do _.Foods do Commodities other than farm products and foods 1926=100.. Pig iron: Basic (valley furnace) dol. per long ton.. Composite ------ do Foundry, No. 2, northern (Pittsburgh) dol. per long ton.. Steel: 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.. World prices, foodstuffs and raw materials: Combined indext --1923-25=100.. Cotton do Rubber -do Silk do Sueart - --do..,. Tea - - do Tin do Wheat do Purchasing power of the dollar: Wholesale prices _ 1923-25=100.. Retail food prices *- »..do..,. Prices received by farmers. do 65 81 72 79 71 78 85 62 61 46 34 78 38 78 78.0 69.5 55.5 84.0 85.5 S3. 5 83.5 72.5 68.0 55.0 82.0 89.5 78.0 81.0 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 57.fi 64.0 49.5 79.5 80.0 84.0 71.5 S5.S 73.2 79.8 85.6 86.6 96.8 85.6 73.2 79.5 85.9 86.4 96.8 85.8 73.0 80.3 86.0 86.2 96.8 85.4 72.7 79.2 85.9 86.2 96.8 Sfi.l 72.4 78.4 85.9 86.1 96.7 84.9 72.3 78.0 85.8 86.1 96.7 78.1 77.8 78.6 77.5 76.8 76.4 116 131 89 114 85 76 139 174 267 113 128 86 99 89 87 78 116 160 108 154 79 85 67 60.5 67.5 58.0 77.5 84.5 71.5 75.5 61.0 72.0 fi6.fi 77.0 80.5 76.5 76.0 72.0 82.5 86.5 78.5 82.0 80.0 75.0 72.5 72.0 63.0 81.0 84.5 82.0 75.5 85.0 72.5 61.0 84.5 86.5 87.0 75.5 91.fi 67.6 55.5 80.0 86.0 77.5 77.5 86.8 75.1 81.1 85.7 87.2 97.6 86.fi 74.5 80.8 83.7 87.0 97.6 86.7 73.9 81.9 83.7 86.7 97.5 86.5 73.5 81.7 84.1 86.6 97.4 85.9 73.4 80.1 84.4 86.6 96.9 85.9 73.3 80.4 85.0 86.6 96.8 79,4 79.1 80.2 80.0 78.4 78.7 106 64 42 93 63 107 55.0 64.5 51.5 78.0 76.0 75.0 70.0 58.0 70.5 60.0 81.5 88.5 75.0 68.0 85.0 72.2 78.2 85.2 86.2 96.7 76.6 116 56 64 68 78 104 65 104 45 57 35 93 50 107 117 83 137 75 68 76 152 235 90 110 87 50 22 95 50 89 123 77 65 77 94 56 92 89 153 72 73 317 96 61 80 155 46 73 90 156 62 102 333 56 19 77 106 59 76 81 97 73 SO 41 53 37 82 51 77 92 85 136 60 79 487 100 19 81 205 63 77 93 134 66 119 303 61 22 88 72 117 103 62 91 67 116 68 70 50 76.2 78.7 78.1 78.3 78.8 78.1 78.3 77.6 77.5 77.0 76.9 76.9 76.7 80.1 68.5 74.4 63.7 68.6 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 80.2 70.1 74.6 65.8 70.2 80.5 82.0 81.6 81.3 81.4 81.4 81.3 81.1 80.6 80.3 80.2 80.2 70.9 74.4 67.2 71.5 80.2 20.50 21.15 23.50 24.13 23.50 24.15 22.50 23.59 19.50 20.15 19.50 20.16 19.75 20.29 20.50 21.14 20.60 21.15 20.60 21.15 20.50 21.15 20.50 21.15 20.50 21.15 22.89 25.89 25.89 24.89 21.89 21.89 22.14 22.89 1 80.4 22.89 22.89 22.89 22.89 22.89 .0268 .0268 .0268 .0268 .0268 .0268 ,0289 .0289 .0286. ,0268 .0268 .0266 .0268 34.00 .0210 13.38 37.00 .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 34.00 .0210 14.06 34.00 .0210 14.25 43.2 32.4 37.2 33.4 35.2 69.6 93.9 38.6 40.7 32.4 27.7 22.6 26.0 76.9 76.3 68.5 38.8 30.9 27.1 22.4 26.2 75.3 73.3 62.9 39.6 30.9 29.4 22.5 27.1 70.9 80.3 64.0 41.2 32.7 36.0 25.3 28.2 70.5 86.3 62.4 39.1 30.9 37.7 24.2 28.1 76.3 86.1 53.9 38.3 29.8 37.8 25.2 28.9 78.4 86.3 50.2 37.8 31.6 39.6 25.9 26.8 72.9 90.0 46.7 37.5 33.5 38.0 25.2 28.8 66.0 92.0 42.3 37.2 32.7 36.9 26.5 31.3 66.7 92.3 39.3 128.9 126.4 159.7 117, 5 128.6 124.7 159.7 117 2 127.8 125.0 154.8 128.9 127.6 169.7 118r5 128.6 127.1 154.8 37.8 33.1 37.3 29.5 30.9 67.0 90.8 41.1 130.9 130.2 159.7 —119,5 37.3 33.1 38.1 31.0 31.9 66.6 91.9 36.8 128.0 125.9 156.5 417 2 36.5 32.0 37.6 25.3 30.4 67.2 91.9 38.1 130.8 127.2 153.1 132.1 130.5 165.3 ,110.6- 129.9 129.8 128. 5 128.0 156.5 154. S — 1 1 8 . &- —11S.& 130.9 129.0 156.5 —ll&.O- 131.3 130.9 161.6 110.-8- CONSTRUCTION AND REAL ESTATE Page 16 Contract awards: F. W. Dodge Corp. (37 States): Construction, total value thous. of dol.. 330,030 222,016 283,156 251,006 239,799 313,141 300,900 357,698 301,679 389,439 251,673 220,197 300,661 Building, total value * - do---- 209,061 155,012 160,924 167,485 160,541 187,048 191,571 243,693 211,261 231,052 165,162 148,564 223,011 Construction cost indexes: American Appraisal Co.: 183 183 183 182 182 181 182 181 181 181 182 182 182 Average, 30 cities 1913=* 100.. 169 169 169 169 169 167 167 167 168 168 168 168 168 Atlanta do 192 192 192 192 192 192 191 191 191 192 193 193 193 New York _ do 167 167 167 166 166 166 164 164 164 162 162 163 169 San Francisco « _ do--~ 185 185 184 184 184 184 184 184 184 186 185 187 185 St Louis ..do — Associated General Contractors (all types) 188 188 188 188 188 188 188 188 188 189 189 188 1913=1OO._ 188 FINANCE Pages 60, 73, 75, 76, 77 Life insurance (Ass'n of Life Insurance Presidents): Insurance written;® Policies and certificates, total number 842 676 1,089 648 865 760 822 712 720 784 892 838 thousands. . 716 33 30 23 71 34 24 16 18 12 30 24 Group - _* ..do 16 20 499 399 357 755 608 598 582 511 648 580 643 464 Industrial do 310 252 262 264 223 200 161 176 197 174 220 175 232 Ordinary do ..~ Value, total". thous. of dol._ 550,801 617,475 618,807 597, 773 52S, 452 550,960 519,932 592,432 671,262 974,920 729,937 570,491 645,019 45,205 40,365 91,294 51,899 43,754 24,924 32,288 33,443 18,659 45,076 37,815 43,076 35,981 Group -.do 99,363 109,871 138,396 129,051 193,131 191,648 170,312 153,392 156,304 173,641 179,553 182,690 226,085 Industrial do 385,769 386,529 384,083 382,385 356,401 361,213 321,367 380,591 444,818 657,541 578,675 420,255 461,418 Ordinary do * Eevised. • New series. Monthly data beginning 1925 will be shown in an early issue of the Survey. t Revised series. Data on world prices revised beginning 1920; see table 4, p. 17, of the January 1939 Survey. <8> 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 1938 1939 April April May June July 1939 - t n h p r NovemDecenr nOctober August Septem>,,,,. KiT . Hiil . ber ber ber January F «Jj u * March FINANCE-Contlnucd Security markets: Bonds: Prices: Average price of all listed bonds (N. Y. S. E.) ..dollars. Standard Statistics Co., Inc. (60 bonds) dol. per $100 bond.. Industrial (20 bonds) do Public utilities (20 bonds) do.... Rails (20 bonds) do.... 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.. By ratings: Aaa (30 bonds) do Aa (30 bonds).. do.... A (30 bonds) do.-.. Baa (30 bonds) _do By groups: Industrials (40 bonds). do Public utilities (40 bonds)_„.do.... Rails (40 bonds) do.... Stocks: Average price of all listed stocks (2V. Y. 8. £.)._.Dec. 31,1924-100.. Standard Statistics Co., Inc.: Combined index (420 stocks).1926= 100.. Industrials (348 stocks) do.... Public utilities (40 stocks) do.... Rails (32 stocks)__ do.... Shares listed, N. Y. S. K : Market value, all listed shares mil. ofdol.. Number of shares listed millions- 91.56 87.82 87.78 90.19 89.40 89.08 00.67 00.34 91.27 91.03 91.85 91.80 79.4 83.8 99.7 54.5 73.8 77.8 90.2 53.5 76.5 80.4 94.0 55.1 75.3 80.0 94.0 52.0 80.8 85.0 97.3 60.2 81.3 85.7 98.1 60.0 78.7 84.2 96.3 55.7 81.8 86.8 98.6 59.9 82.1 86.9 99.3 60.2 81.1 86.0 98.7 58.6 81.9 86.2 99.7 59.7 82.1 86.4 100.7 59.0 83.1 87.1 101.3 60.9 52,564 47,975 4,589 48,128 45,493 2,634 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 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 45,640 4,661 45,442 42,597 2,844 51,554 46,920 4,634 47,053 44,268 2,785 51,587 46,933 4,654 46,958 44,233 2,725 51,466 46,862 4,604 47,271 44,524 2,748 52,670 48,071 4,599 48,352 45,665 2,687 3.84 4.50 4.28 4.40 4.17 4.09 4.17 4.03 3.95 3.05 3.81 3.74 3.02 3.22 3.97 5.15 3.30 3.73 4.49 6.47 3.22 3.56 4.28 6.06 3.26 3,68 4.41 6.25 3.22 3.62 4.21 5.63 3.18 3.57 4.13 5.49 3.21 3.60 4.20 5.65 3.15 3.53 4.08 5.36 3.10 3.46 4.02 5.23 3.08 3.42 4.02 5.27 3.01 3.32 3.97 5.12 3.00 3.26 3.94 5.05 2.90 3.22 3.87 4.89 3.35 3.51 4.66 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 3.40 3.63 4.82 3.31 3.57 4.70 3.20 3.52 4.63 3.29 3.48 4.46 56.6 49.8 48.1 58.3 62.2 60.6 60.6 65.4 64.1 66.2 62.6 64.4 57.0 81.9 95.9 80.0 24.8 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 91.1 109.6 77.4 28.1 94.7 113.6 80.9 30.0 92.0 110.6 77.9 28.8 91.8 109.3 81.2 29.8 00.1 106.3 83.8 28.0 91.7 108.0 85.8 29.7 40,673 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 47,491 1,424 44,884 1,425 46,271 1,426 40,021 1,427 FOREIGN TRADE Pages 79, 80, 82, 83 Indexes: Exports: 61 68 72 61 Total value, unadjusted 1923-25=100.. 73 56 71 58 65 '70 64 69 76 Total value, adjusted do 55 63 67 70 72 60 Imports: 44 52 51 46 45 50 58 55 53 55 Total value, unadjusted do 49 55 54 53 47 46 45 54 55 53 Total value, adjusted do.... 55 55 53 47 49 Value: Exports, including reexports^.-thous. of dol.. 230,947 274,482 257,177 232,686 227,780 230,621 246,321 277,928 252,231 268,756 212,908 218,559 268,364 General imports, total .do.... 186,195 159,907 148,260 145,898 140,836 165,540 167,651 177,979 176,181 171,474 178,201 158,035 ••190,437 Imports for consumption, total do.... 185,800 155,501 147,243 147,938 147,797 171,053 172,947 178,460 171.652 165,522 169,333 152,528 ' 191,226 CHEMICAL AND ALLIED PRODUCTS Page 90 Chemicals: Alcohol, denatured: Consumption thous. of wine gal.. Production do Stocks, end of month do Alcohol, ethyl: Production thous. of proof gal.. Stocks, warehoused, end of month...do Withdrawn for denaturing do Withdrawn, tax paid do 7,523 7,719 1,485 6,287 1,127 6,072 6,092 1,137 7,812 7,869 1,192 6,725 6,711 1,170 7,648 7,846 1,416 9,124 9,181 1,466 11,188 11,101 1,364 10,309 10,195 1,233 10,433 5,500 1,285 6,720 6,828 1,370 6,567 6,454 1,260 7,578 7,616 1,204 17,859 29,625 13,253 2,076 12,817 33,076 10,481 2,135 14,253 33,867 10,615 2,340 16,395 32,047 14,400 3,506 16,370 33,727 12,350 1,684 17,284 35,176 14,483 1,590 15,800 32,736 16,072 1,639 17,017 28,319 2,111 15,164 23,277 17,249 2,439 16,772 20,895 17,389 1,841 17,067 24,433 11,327 1,691 14,671 26.072 11,198 1,350 17,423 27,741 13,202 1,851 870 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 2,899 1,319 1,936 3,185 2,899 1,326 ' 1,943 ' 3,170 '3,236 1,329 1,049 3,623 3,115 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 3,665 13,244 9,540 3,704 13,440 9,665 3,775 13,885 10,074 3,811 13,096 10,301 3,695 13,602 9,868 3,734 13,375 '9,699 ' 3,676 12,911 9,127 3,784 79.3 158.2 93.4 90.6 157.5 91.3 62.2 140.2 78.5 75.3 108.6 105.8 83.4 102.8 89.1 78.7 97.3 84.2 87.9 91.8 93.4 89.7 87.0 94.5 141.0 126.0 102.8 122.5 151.4 96.3 135.5 175.1 112.2 146.6 193.6 128.1 TRANSPORTATION EQUIPMENT Page 160 Automobiles: Production: Canada, total numbers- 16,891 18,819 Passenger cars do 14,033 12,7&1 United States (factory sales), total._do—_ 337,372 219,310 Passenger cars _ do 273,409 176,078 Trucks do 43.232 18,115 13,641 192,059 154,958 37.101 14,732 11,014 174,670 136,531 38,139 0,007 5,273 141,443 106,841 34,602 6,452 3,063 90,494 58,624 31,870 6,089 4,290 83,534 65,159 18,375 5,774 5,412 209,512 187,494 22,018 17,992 15,423 372,413 320,344 52,069 18,670 15,518 388,346 326,006 62,340 14,794 11,404 339,152 280,033 50,110 14,300 10,914 297,841 239,980 57,861 17,549 12,689 371,940 299,703 72.237 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 139 Machinery and apparatus: Foundry equipment: Orders: New 1022-24=100Unfilled, end of month do Shipments _ ..do 146.0 208.6 131.0 r Revised. • Data for March are the latest available. D . 5 . GOVERNMENT PRINTING OFFICE: 1939
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