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Monthly Review of Credit and Business Conditions* 1924 Page ACCEPTANCES Outstanding, February ADVERTISING January AUTOMOBIIJSS (see Uotor vehicles) 3 6 BANKING CONDITIONS Monthly beginning January BUILDING Monthly beginning January BUSINESS ACTIVITy Monthly beginning January ---------------------------BUSINESS CONDITIONS Monthly beginning January Business over fifty years as reflected in bank clearings, May - - • BUSINESS FROFITS IN 1923 Mar«h CANADA Canadian financing abroad and in Canada, March CHAIN STORE SALES Monthly beginning January (except February) CLEARINGS Business activity over 50 years as reflected in bank clearing®, 2 5 5 8 & 4 7 CROPS August, September, October DEPARTMENT STORES Department store business, Monthly beginning January Department store sales since 1900, December DEPOSITS Velocity of bank deposits, March Savings bank deposits, March, September Changes in ftamber bank deposits, April EMPLOYMENT Monthly beginning January FEDERAL RESERVE BANK OF NEW YORK Operations in 1923, February FOREIGN EXCHANGE Monthly beginning January -----f • • • . « « . • • T 9 2 3 2 4 8 3 - 2 Index to Monthly Review, e t c - 1924 Page FOREIGN TRADE Monthly beginning January - - - - — - - - - - - - - - - - - - - - - GENERAL PRICE LEVEL INDEX A p ril - - - - - - - GOLD Movements , Monthly beginning J anuary - - - - - - - - - - - - - - - T G VERN EN DEBT O M T August - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - INTEREST RATES Monthly beginning J anuary - - - - - - — - - - - - - - - - - - M EY SHIPMENTS ON Pbreign shipments o f United States cu rren cy, Monthly beginning February (e x ce p t March , May , November) - - - - - - - - - - M OTOR VEHICLES Production and s a l e s , A pril - - - - - - - - - - - - - - - - - - - - - - 3 4 2 3 - - 5 5 6 - - - - - - - - - - - - - - - - - - - - 6 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 6 - - - - - - - - - - - - - - - - - - - - W ES AG Monthly beginning January W OLESALE TRADE' H . Monthly beginning January 7 7 SECURITIES Security markets , Monthly beginning January - - - - - - - - - - - - SILVER S ilv e r exports , September - - - - - - - - - - - - - - - - - - - - - - 3 5 - 4 6 m m s. ADVERTISING Newspaper and magazine , compared with computed trend. January — - 8 - - PRICES January, p - 3; Pbbruary » p . 5; June, p . 4 ; August, p » 7 ; September, p . 7 ; October, p - 7 . PRODUCTION Monthly beginning January - - - - - - - - - - - - - - - - - - - - - RAILROADS Equipment purchases , A p ril REAL ESTATE Real esta te and r e n t s » A pril RENT Real esta te and r e n t s , A pril Apartment ren ts , November - ROAD BUILDING November - - - - - - - - - - 3 1919 • 1923 . -— - Index to Monthly Review, e t c . 1924. Page BANK DEBITS Factory employment in New York sta te and average d a ily fig u res fo r bank d ebits outside o f New York c i t y , t o t a l ca r lo a d in g s, and sa les o f wholesale dealers in Second D is t r ic t compared by months fo r 1923 and 1924. November - - - - - 5 BONDS Average monthly p rice o f 40 m iscellaneous bonds and o f the 4 Fourth L iberty 4£*s« 1912-1924. July - - - - - ----------- BORROW INGS D aily borrowings by p rin cip a l New York c it y member banks from Federal Reserve Bank, and ra tes fo r commercial paper and c a l l loan renewals, Jan. - J u ly , 1924. August - - - - - 3 BUILDING Value o f b u ild in g con tra cts awarded in New York s ta te and Northern New Jersey and in a l l other Northwestern s t a t e s , in f i r s t 11 months o f the years 1919 to 1924. January, p*5; May,p. 6 . Volume o f b u ild in g and production o f p ig ir o n . 1919-1924,A p ril 6 Monthly average o f b u ild in g con tra cts fo r f i r s t ..fiv e months o f 1923-1924. July - - - - - - - - - - - - - - - - - - - 6 Value o f b u ild in g con tra cts awarded in 36 sta tes and in New York s ta te and Northern New J ersey, 1923-1924. September - - - 5 BUSINESS ACTIVITY Monthly changes in indexes o f d is tr ib u tio n and general business a c t i v i t y , May - - - - - - - - - - - - - - - - - - - - - - 5 Business a c t i v it y over 50 years as r e fle c t e d in bank clea rin g s o u tsid e New York c i t y , 1875-1924. May - - - - - - - - - - 8 CANADIAN BON DS Sales in Canada, United Kingdom and United States by years, 1910 to 1923. March - - - - - - - - - - - - - - - - - - - - - 4 CAPITAL ISSUES (see Securities) CAR LOADINGS W holesale trade in the Second Federal Reserve D is t r ic t and ca rloadings o f merchandise and m iscellaneous fr e ig h t , 19191923. February - - - - - - - - - - - - - - - - - - - - - 6 Factory employment in New York s ta te and average d a ily fig u res f o r bank d ebits ou tsid e o f New York c i t y , t o t a l ca r-lo a d in g s , and' sa le s o f w holesale dealers in the S e c o n d .D is tr ic t, compared by months fo r 1923 and 1924. November - - - - - 5 CEM T EN Average d a ily consumption o f cotton and production o f p ig ir o n , automobiles, and cement, by months for 1923 and 1924, compared*. 4 November - - - - - - - - - - - - - - - - - - - - - -------- - CHAIN STORES Monthly sa le s o f department sto re s in the Second Federal Reserve d i s t r i c t and sa le s o f chain s t o r e s , 1919-1924. June - - - 8 CLEARINGS Business a c t iv it y over 50 years as r e fle c t e d in bank clea rin g s ou tsid e New York c i t y , 1875 to 1924. May - - - - - - - 8 COM ERCIAL PAPER M Outstanding - 26 d e a le rs, 1918-1924. March - - - - - - - - - 3 4 Index t o Monthly Review, etc* COM ERCIAL PAPER (continued) M Daily borrowings by p rin cip a l New York c i t y member banks from Federal Reserve Bank, and ra tes fo r commercial paper and c a l l loan renewals. January-July, 1924* August - - - - - - - - CONCRETE Contracts awarded fo r con crete highway con stru ction in the United States by months, 1919-1924* November - - - - - - - - - CORN Average p rice s at Chicago of wheat (no* 2 red w inter) and corn (no* 3 mixed y e llo w .) 1914-1924* August - - - - - - - - - COTTCN Average d a ily consumption of cotton and production of p ig iron , automobiles and cement, by months fo r 1923 and 1924 compared. November - - - - - - - - - - - - - - - - - - - - - - CREDIT Bank c r e d it , 800 member banks in leading c i t i e s , 1919-1923* January - - - - - - - - - - - - - - - - - - - - - - - - - - - - Member bank c r e d it - weekly fig u re s - 1 0 1 lea d in g c i t i e s , 1919-1924. February, March, May, November, December - - - - - - Reserve bank c r e d it * 12 Federal Reserve banks, weekly fig u re s , * 1919-1924* February, March, A p ril, June, August, October - - - Member bank c r e d it in Second Federal Reserve d i s t r i c t - weekly fig u re s f o r 1CB banks in 8 leading c i t i e s , 1919-1924* July » - 750 member banks in 101 leading c i t i e s , 1919-1924* July, Sept. - - - CROPS Estimated value o f p r in c ip a l 1924 crops at July 15 p r ic e s at the farm compared with December 1 value of crops harvested in 1921, 1922, 1923* September - - - - - - - - - - - - - - - - - - DEPARTM ENT STORES. Sales and stocks o f department stores in Second d i s t r i c t , 19191923* January - - - - - - - - - - - - - - - - - - - - - - - - - Sales o f department stores in the Second Federal Reserve d i s t r i c t and mail order houses, 1919-1923. February - - - - - - - - - - Monthly sa le s o f wholesale dealers and department sto re s in the Second Federal Reserve d i s t r i c t , 1919-1923. March, July - - - - Department sto re sa les - index of sa les of 333 sto re s in 117 c i t i e s , 1919-1924* May, October - - - - - - - - - - - - - - - - - - - - Monthly sa les of department sto re s in the Second Federal Reserve d i s t r i c t and sa les of chain sto re s, 1919-1924* June - - - - - - Sales and stock s on hand, 1923 compared with 1924* August, October - Monthly percentages of outstanding orders t o t o t a l purchases in previous year of rep resen tative department sto re s in the Second D is t r ic t , 1921-1924* August, September - - - - - - - - - Annual sa les of se le c te d department stores in New York and nearby c i t i e s , 1900-1924, compared with growth o f New York c i t y population and sa les of 64 stores from 1919-1924. December - - - 1924 3 7 7 4 2 2 2 3 2 7 7 7 ? 2 8 8 8 8 - 5 Index to Monthly Review, e t c 1924 Page DEPOSITS Rate o f turnover o f bank d ep osits in New York c it y , a s e le c te d c i t i e s , and 141 c i t i e s b efore and a fte r allowance fo r seasonal v a r ia tio n s , 1919-19 24, March - - ------- - - - - - Monetary stock o f gold in the United States and t o t a l o f demand, time and government d e p o sits o f a l l n a tio n a l banks, 19141924* March - - - - - - - - - - - - - - - - - - - - - - - - D eposits o f 15 savings banks in New York c i t y and the Second d i s t r i c t ou tsid e New York c ity * 1918-1924* March, S e p t .- - Demand and time d e p o sits o f a l l member banks, 1919-1924* A p r il- EARNING ASSETS A ll Federal Reserve banks, 1922-1923* January ---------------------------T o ta l, Federal Reserve Bank o f New Yor*% by days, Dec* 1, 1923 to January 24, 1924, in clu siv e * February - - - - - - - - - EARNINGS Changes in average weekly earnings o f fa cto ry op era tiv es and fa cto ry o f f i c e workers in New York sta te and the cost o f liv in g in the United S tates, 1914-1923* January - - - - - - Changes in employment, in t o t a l wage payments, and average weekly mage earnings in New York sta te f a c t o r ie s , 19181924# July — — — — — — — — — — — — — — — — — — — — — — — — — EM PLOYM ENT Factory employment in the United States and New York sta te by in d u strie s, 1919-1923. January - - - - - - - - - - - - - - Index o f employment in manufacturing in d u s trie s , 1919-1924* January, A p r il, June, July, August, September, November, December - - - - - - - - - - - - - - - - - - - - - - - - - - Changes in employment, in t o t a l wage payments, and average weekly wage earnings in New York sta te fa c t o r ie s , 1913-1924* July, p .7 ; December, p . 6 . Factory employment in New York sta te and average d a ily fig u res fo r bank d e b its outside New York c i t y , t o t a l car loa d in g s, and sa les o f w holesale dealers in Second d i s t r i c t , compared by months, fo r 1923 and 1924* November - - - - - - - - - - FOREIGN E C A G S XHNE D epreciation from par v a lu e, 1919-1924* February, July - - - - Foreign exchange ra tes in p er cent d ep recia tion from par in Nov ember, 1924, November, 1923, and at the 1920-1924 low p oin ts compared. December - - - - - - - - - - - - - - - - FREIGHT CARS Domestic purchases, 1922-1924* A p ril - - - - - - - - - - - - GENERAL PRICE LEVEL INDEX An index o f the general p r ic e le v e l compared with wholesale p rice s and wages, 1875-1924* A p ril - ------- --- ------- ---------- --- ------G LD O Monetary stock o f gold in the United States and t o t a l o f demand, tim e, and government d e p o sits o f a l l n a tio n a l banks, 19141924* March - - - ----------------------------------------------------------- - - United States net imports and exports o f g o ld , 1914-1924* June, December - - - - - - - - - - - - - - - - - - - - - - - - - 3 5 3 3 8 3 4 7 4 2 5 4 4 6 8 5 4 -6 Index t o Monthly Review, e t c . 1924. Page HOUSING Columns of "Apartments For rent" a dvertisin g in the Sunday e d itio n o f a New York newspaper during the rentin g seasons of 1922-1924. November - - - - - - - - - - - - - - - - - - - - - - - - - - - - INTEREST RATES Open market ra tes f o r prime commercial paper and bankers acceptances, and discount ra te of the Federal Reserve Bank of New York# 1914-1924. June - .......................................... - - ----------------------- ---------- --.Money rates - New York and London, 1922-1924. Ju ly, November - - - - D aily borrowings by p r in c ip a l New York c i t y member banks from Federal Reserve bank, and ra tes f o r commercial paper and c a l l loan renewals* January-July, 1924. August - - - - - - - - - - C a ll loan renewal ra te s, open market ra tes f o r 4 -6 months com m ercial paperaad 90-day bankers acceptances, and the Federal Reserve Bank red iscou n t ra te by weeks, 1922-1924* December - - LOANS Loans la r g e ly f o r commercial purposes and t o t a l investments of rep ortin g member banks, New York and United States, 1921-1924. February, June - - - - - - - - - - - - - - - - - - - - - - - - - Loans la r g e ly fo r commercial purposes of a l l weekly rep ortin g member banks compared with weekly rates fo r prime commercial paper, and 4 -6 months c e r t i f i c a t e s , 1922-1924. May - ----- - - - ----- - - - - T ota l loans and investments and t o t a l d eposits of 750 rep ortin g member banks in p r in c ip a l c i t i e s o f the United States and of 67 rep ortin g member banks in New York c i t y . 1924. September - - - - - - - - T ota l loans and investments and t o t a l deposits o f 636 rep ortin g member banks in p r in c ip a l c i t i e s outside the Second d i s t r i c t , and of 108 rep ortin g member banks in the Second d is t r ic t * 1924* November, December - - - - - - - - - - - - - - - - - - - - - - - - - - - - MAIL O ER BUSINESS RD Sales o f department sto re s in the Second Federal Reserve d i s t r i c t and mail order houses, 1919-1923* February - - - - - - - - - - - - MOTOR VEHICLES Monthly production of motor v e h ic le s in the United S tates, 1911-1924. A p r il ---------------------------- --- — -------------------------------------Average d a lly consumption of co tto n , and production of p ig iro n , autom obiles and cement by months, fo r 1923 and 1924, compared. November — — — — — — — — — ———— —— ———————— —— PIG IRCN Volume of b u ild in g and production of p ig iron , 1919-1924.' A p ril - - Average d a ily consumption of cotton , and production of p ig iro n , autom obiles, and cement by months, fo r 1923 and 1924 compared* November - - - - - - ------- - - - - - - - --- - - - - - - PRICES Index o f United States Bureau of labor s t a t i s t i c s , 1919-1924. Monthly beginning January - - - - - - - - - - - - - - - - - - - P rice indexes o f 2 0 b a sic commodities in the United States and England. July, 1922-1924* January, p*3; June, p .5; October, p*7* 7 3 3 3 3 2 3 2 2 7 5 4 6 4 1 - 7 - Index t o Monthly Review, e t c . 1924. PRICES (continued) An index of the general p rice le v e l compared with wholesale p rice s and wages, 1875-1924. A pril - - - - - - - - - - - - - - - - - - Monthly changes in production and p rice s o f b a sic commodities, 1919-1924. M a y ----------- ----------------------------------------------- -----------------------PRODUCTION Index of 22 b a sic commodities, 1919-1924. Monthly beginning January - - - - - - - - - - - - - - - - - - - - - - - - - - - - Production of b a sic commodities during January and February of 1924. A pril - - - - - - - - - - - - - - - - - - - - - - - - - - Monthly changes in production and p rice s of b a sic commodities, 1919-1924. I s a y ............................................................................... .................... Monthly production in b a sic in d u s trie s , 1918-1924. July, October - - - - - - - - - - - - - - - - - - - - - - - - - - - - PR(FIT Annual net p r o f it s of 203 manufacturing, merchandising, and p u b lic se rv ic e concerns and o f c la s s 1 r a ilr o a d s , 1919-1923. March - - - 8 4 1 5 4 5 8 RENT Rents of apartments in New York c i t y compared with changes in the c o s t of b u ild in g co n stru ctio n , 1917-1924. November - - - - - - RESERVES Average weekly excess reserves at New York c i t y cle a rin g house banks and open market rates f o r 4-6 months commercial paper and 90 day b i l l s . 1924. October -------------------------------------------------- SECURITIES Par value of fo re ig n c a p it a l issu es o ffe r e d in New York and London by s ix month periods in m illio n s by d o lla r s , 1921-1924. August - - - - - - - - - - - - - - - - - - - - - - - - - - - Holdings of United States bonds and short term c e r t i f i c a t e s and notes of 750 rep ortin g member banks in p r in c ip a l c i t i e s throughout the country, 1919-1924. September - - - - - - - - New idsues of domestic corp oration s e c u r it ie s , e x clu siv e of refunding iss u e s, 1919-1924. October - - - - - - - - - - - - Number o f fo re ig n government, s ta te , and municipal issu es traded in on the New York Stock Exchange each year, 1904-1924. November - - - - - - - - - - - - - - - - - - - - - - - - - - - Average p rice s of 50 sto ck s, both railway and in d u s tr ia l, and 40 bonds, and number o? shares so ld on the New York Stock Exchange by months, 1916-1924. December - - - - - - - - - - - - 7 2 - 4 - 4 - 3 - 3 - 3 TRADE Merchandise exports and imports of the United S tates, 1919-1924. March Monthly imports and exports of merchandise o f the United States, 1915-1924. September - - - - - - - - - - - - - - - - - - - - - - 5 W AGES Wages o f u n sk illed la b or compared with p r ic e s 1916-1924. May, August, November - - - Changes in employment, in t o t a l wage payments wage earnings in New York sta te f a c t o r ie s , of b a sic commodities - - - - - - - - - - - and average weekly 1918-1924. July - - - 5 6 7 - 8 - Index t o Monthly Review, etc • 1924 Page W EAT H Average p rice s at Chicago of wheat (n o. 2 red w inter) and corn (n o . 3 nixed y e llo w ), 1914-1924. August - - - - - - - - - - - Exports of wheat and wheat flo u r of p r in c ip a l wheat exporting co u n trie s, 1909-1913 average, 1914-1923. October - - - - - - R eceipts of wheat, corn and oats at 14 in t e r io r markets between July 1 and November 1 of seven years, 1918-1924. December - - ■V C SA TRADE H LE LE Wholesale trade in Second Federal Reserve d i s t r i c t and car loadings of merchandise and m iscellaneous fr e ig h t , 1919-1923. February - - - - - - - - - - - - - - - - - - - - - - - - - - - Monthly sa les of wholesale dealers and department sto re s in Second Federal Reserve d i s t r i c t , 1919-1923. March, July - - - Monthly sa les of rep resen ta tive wholesale dealers in the Second Federal Reserve d is t r ic t ,, 1919-1924. June - - - - - - - - - - Factory employment in New York sta te and average d a ily fig u re s f o r bank d eb its outside of New York c i t y , t o t a l car loadings and sa les of wholesale dealers in Second d i s t r i c t , compared by months fo r 1923 and 1924. November - - - - - - - - - - - - - 7 4 5 6 7 7 5
