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Supplement to BANKING & MONETARY STATISTICS SECTION 12 Money Rates and Securities Markets BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Preface In 1943 the Board of Governors published Banking and Monetary Statistics to make available in one place and on a uniform basis major series relating to banking, monetary, and other financial developments. The statistics usually covered the period from 1914, when the Federal Reserve System was established, through December 1941. To^bring together for the period since 1941 the most important series in that volume, to revise the data previously published, and to present new series, the Board is publishing a series of pamphlets. Most of these pamphlets correspond to sections in Banking and Monetary Statistics, but some may cover new subjects. Most of the data included in these pamphlets have already been published in the Federal Reserve Bulletin, and current figures for most of the series are published in it each month. In some instances, however, the type of presentation may vary considerably from that in the Bulletin. This is one of the new pamphlets. As in Banking and Monetary Statistics, there is a brief description of the purpose and history of the data, the sources of the figures and the methods by which they were compiled, and other facts to guide the reader in using the figures. Much of the information that is customarily included in footnotes to tables has been incorporated in the text. Footnotes have been used for the most part to call the reader's attention to any lack of comparability of items over the period covered. Board of Governors of the Federal Reserve System Washington, D. C. January 1966 Price per copy, 65 cents. REFERENCE Contents Page 1 INTRODUCTION RATES REGULATED BY THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM 2 FEDERAL RESERVE BANK RATES 2 Discount rates on eligible paper Rates on Section 10(b) advances Rates on advances to others than member banks Rates on industrial loans and commitments Buying rates on Treasury bills Buying rates on bankers' acceptances Rates on purchases of U.S. Government securities under repurchase agreement MAXIMUM RATES ESTABLISHED BY THE BOARD OF GOVERNORS Maximum rates on time deposits Maximum rates under Regulation V on guaranteed loans 2 3 3 3 3 4 5 5 6 6 MONEY RATES AND RELATED STATISTICS 6 SHORT-TERM OPEN MARKET RATES IN NEW YORK CITY 7 EFFECTIVE RATES ON FEDERAL FUNDS 8 YIELDS ON SHORT-TERM U.S. GOVERNMENT SECURITIES 8 BANK RATES ON SHORT-TERM BUSINESS LOANS 9 Prime rate Average rates on business loans 9 10 COMMERCIAL AND FINANCE COMPANY PAPER AND BANKERS' ACCEPTANCES OUTSTANDING 11 SECURITIES MARKETS 12 BOND YIELDS AND PRICES 12 STOCK PRICES, YIELDS, AND TRADING VOLUME 15 Common stock prices Preferred stock prices and yields Trading volume . 15 17 17 iii STOCK MARKET CREDIT 17 MARGIN REQUIREMENTS 18 STATISTICAL MEASURES OF CREDIT 18 Customer credit Broker and dealer credit 19 19 DEFINITIONS AND COVERAGE 20 SECURITIES ISSUES 21 TOTAL NEW SECURITIES ISSUES BY TYPE OF ISSUER 22 CORPORATE ISSUES 22 NEW STATE AND LOCAL GOVERNMENT ISSUES 23 NET CHANGE IN CORPORATE SECURITIES OUTSTANDING 24 Type of issue or issuer Method of derivation 24 24 INSTITUTIONAL INVESTORS 25 MUTUAL SAVINGS BANKS 25 Types of investment permitted Types of assets and liabilities shown 25 25 SAVINGS AND LOAN ASSOCIATIONS 26 Types of associations Types of assets and liabilities shown 26 26 LIFE INSURANCE COMPANIES 27 Types of companies Types of investments shown 27 27 PENSION FUNDS 28 Public pension funds Corporate pension funds 28 28 KEY TO SYMBOLS USED IN TABLES 29 IV TABLES: 1. Federal A. B. 2. Federal 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Reserve Bank Discount Rates on Loans to Member Banks Advances and Discounts under Sections 13 and 13a, 1941-63 Advances under Section 10(b), 1941-63 Reserve Bank Discount Rates on Advances to Others Than Member Banks Secured by Direct Securities of the United States A. Individuals, Partnerships, or Corporations other than Member Banks, 1933-63 B. Special Rates to Nonmember Banks, 1939-46 Federal Reserve Bank Rates on Industrial Loans and Commitments, 1941-59 . . . Maximum Rates Established by the Board of Governors A. Maximum Interest Rates Payable on Time and Savings Deposits, 1933-64 B. Loans Guaranteed Under Regulation V, 1942-63 Short-Term Open Market Rates in New York City A. Annually and Monthly, 1941-63 B. Weekly, 1941-63 Effective Rate on Federal Funds A. Annually and Monthly, 1954-63 B. Weekly, 1954-63 Yields on Short-term U.S. Government Taxable Securities A. Annually and Monthly, 1941-63 B. Weekly, 1941-63 Bank Rates on Short-Term Business Loans A. Prime Rate, 1929-63 B. Average Rates on Business Loans, 1939-63 Commercial Paper and Bankers' Acceptances Outstanding, 1941-52 Commercial and Finance Company Paper and Bankers' Acceptances Outstanding, 1948-63 Bond Yields, by Type of Security A. Annually and Monthly, 1941-63 B. Weekly, 1941-63 Bond Prices, by Type of Security, 1941-63 13. Basic Yields of Corporate Bonds, by Term to Maturity, 1941-63 14. Stock Price Indexes: Standard and Poor's Corporation A. Annually and Monthly, 1900-63 B. Weekly, 1934-63 31 32 33 33 34 36 36 37 39 48 48 50 53 61 61 64 66 68 74 98 99 100 106 15. Common Stock Price Indexes: Securities and Exchange Commission A. Annually 1939-63; Monthly, 1939-May 1964 B. Weekly, 1939-May 1964 116 119 16. Stock Yields, 1926-63 131 17. Trading in Stocks on the New York Stock Exchange: Round-Lot Volume A. Annually and Monthly, 1941-63 B. Weekly, 1934-63 134 135 18. Trading in Stocks on the New York Stock Exchange: Total Volume and Value, 1941-63 140 19. Margin Requirements, 1934-63 141 20. Stock Market Credit, 1938-63 142 21. Detailed Debit and Credit Balances and Related Items of Member Firms of the New York Stock Exchange Carrying Margin Accounts, 1942-63 22. Money Borrowed by Member Firms of the New York Stock Exchange, 1941-63. . 23. New Security Issues A. By All Issuers, 1934-63 B. Proposed Uses of Net Proceeds by Major Groups of Corporate Issuers: Old Grouping, 1934-47 C. Proposed Uses of Net Proceeds by Major Groups of Corporate Issuers: New Grouping, 1948-63 24. New Issues of State and Local Government Securities, 1946-63 25. Net Change in Outstanding Corporate Securities A. By All Issuers, 1934-63 B. By Type of Issuer, 1948-63 147 151 154 160 163 166 170 172 26. Mutual Savings Banks: Assets and Liabilities, 1945-63 174 27. Savings and Loan Associations: Assets and Liabilities, 1945-63 177 28. Life Insurance Companies: Assets and Liabilities, 1945-63 179 29. Assets of All Public and Private Pension Funds, 1950-63 182 30. Assets of Noninsured Corporate Pension Funds, 1951-63 182 VI i2. Money Rates and Securities Markets CURRENT SAVING and other funds available for investment are mobilized and invested through the nation's security markets. These markets bring together large numbers of borrowers and lenders to bid for or to offer funds, and from this interplay of demand and supply interest rates are established. Some saving comes into these markets directly, but the major part comes indirectly through loans and investments of banks and nonbank financial institutions such as savings and loan associations, insurance companies, and pension funds. Whether these institutions invest in short- or long-term securities depends in large measure on their sources of funds, the regulatory controls under which they operate, and the nature of their contingent liabilities. Some types of institutions concentrate their investments in mortgages and long-term bonds; others tend to hold a larger proportion of their funds in shorter-term issues. And certain institutions and many individuals place some funds in common and preferred stocks. In carrying out its responsibility for regulating the flow of bank credit and money, the Board of Governors of the Federal Reserve System requires information on the flow of funds through credit and securities markets and on the costs of such funds. This section includes information relating to certain instruments of credit policy—discount rates, maximum interest rates on time deposits, and margin requirements—and also statistics relating to money markets, securities markets, and the investments of selected types of financial intermediaries. All of these statistics have a bearing, directly or indirectly, on the Federal Reserve System's credit policy. Statistics relating to the quantitative instruments of credit policy— member bank reserve requirements and open market operations—appear in "Member Bank Reserves and Related Items," Section 10 of Supplement to Banking and Monetary Statistics. The descriptive material and the statistics in this section are divided into six main parts: Rates regulated or established by the Board of Governors of the Federal Reserve System (Tables 1-4): Federal Reserve Bank rates, maximum rates on time deposits, and rates established under Regulation V. Money rates and related statistics (Tables 5-10): Short-term open market money rates, rates on bank loans to business, and amount of open market paper outstanding. Securities markets (Tables 11-18): Prices and yields on bonds and stocks, and volume of trading. Stock market credit (Tables 19-22): Margin requirements and major types of securities credit. Securities issues (Tables 23-25): New issues, and changes in corporate issues outstanding. Institutional investors other than commercial banks (Tables 26-30): Selected balance sheet data. Unless otherwise noted, the tables contain data for the period 1941-63. Current statistics for most of these series are published regularly in the Federal Reserve Bulletin. RATES REGULATED BY THE BOARD OF GOVERNORS Two types of rates under this heading are described: first, those which the Federal Reserve Banks charge member banks and others on borrowed funds, generally referred to as discount rates; and second, the maximum rates that the Board of Governors has established on time deposits in member banks and on loans that are guaranteed by agencies of the U.S. Government. FEDERAL RESERVE BANK RATES The discount rate determines the cost to member banks of the reserve funds they obtain by borrowing from Federal Reserve Banks. Every 14 days, each Reserve Bank must establish its own discount rates, subject to review and determination by the Board of Governors in Washington. The national and international financial communities think of Federal Reserve Bank discount rates as pivotal rates in the credit market. The key role assigned to them derives largely from the fact that they are established by the administrative action of a public body having special information and competence to judge whether expansion of bank credit and money is consistent with the economy's cash needs for transactions and liquidity.1 The founders of the Federal Reserve System contemplated that Reserve Bank discount rates would be set in accordance with regional financial conditions. And they expected that variations in regional financial conditions would lead to variations in discount rates among the Reserve Banks. In recent decades, however, rates have tended to be uniform. Basically, this tendency toward uniformity reflects improvements in the facilities and speed of communication and transport as well as further geograph1 For further information on discount rates and their relation to market rates of interest, see Board of Governors of the Federal Reserve System, The Federal Reserve System— Purposes and Functions (Washington, D. C , 1963) pp. 45-50. ical integration of industrial, commercial, and financial enterprises. The principal types of discount rates established by the Reserve Banks are shown in Tables 1 and 2. They are (1) rates to member banks on discounts of eligible paper and on advances secured by such paper or by U.S. Government securities, (2) rates to member banks on other advances secured to the satisfaction of the Reserve Bank, and (3) rates on advances to others than member banks secured by direct securities of the United States. Table 3 shows rates on industrial loans and commitments from January 1941 through August 21, 1959, when Federal Reserve authority to make such loans was repealed. The Board's Regulation A contains detailed information on the various types of discounts and advances that the Federal Reserve Banks may make. The following discussion relates principally to the discount rates charged. Both advances and discounts are processed on a discount basis—that is, the borrower pays the interest on the date when he borrows. Discount rates on eligible paper. The Federal Reserve Banks are authorized under Sections 13 and 13a of the Federal Reserve Act to discount for their member banks short-term commercial and agricultural paper and to make advances on member banks' promissory notes secured by such eligible paper or by U.S. Government securities. The rate charged on discounts of eligible paper is usually referred to as the "discount rate." This rate, which is shown in Table 1-A, has been the lowest of the rates charged by the Federal Reserve Banks except when a preferential rate has been in effect for advances secured by Government securities. In the early years of the System the Reserve Banks established a variety of discount rates, differing with the class of paper and the maturity. However, since 1921 a single rate has prevailed at each' Federal Reserve Bank for all discounts and advances to member banks, with two exceptions. In September 1939 some of the Federal Reserve Banks established a preferential rate on paper secured by Government securities. These rates were in effect at the beginning of the period covered by this section, but the differences between these rates and those on other discounts and advances were eliminated in February, March, and April 1942, when rates for other discounts and advances were lowered. In the autumn of 1942 all twelve of the Federal Reserve Banks established a preferential rate on advances secured by Government securities maturing or callable in 1 year or less, which was in effect until the spring of 1946. At that time the preferential rate was discontinued. Although member banks could borrow at a preferential rate during the war on advances secured by short-term Government obligations, they did not borrow much in this way, in part because it was cheaper to sell Treasury bills at the rate established in April 1942. Rates on Section 10(b) advances. In addition to advances under Section 13 and 13 a, the Federal Reserve Banks are authorized under Section 10(b) of the Federal Reserve Act, enacted on February 27, 1932, to make advances to member banks provided such advances are secured to the satisfaction of the Federal Reserve Banks. The rate on these advances, shown in Table 1-B, may not be less than one-half of 1 per cent higher than the highest rate in effect on discounts for member banks under Sections 13 and 13a. During most of the period covered by Table 1-B, the discount rate on advances under Section 10(b) was one-half of 1 per cent higher than the rate on eligible paper at each Reserve Bank. The volume of borrowing under Section 10(b) is small, but the privilege of borrowing on paper otherwise ineligible for discount at the Reserve Banks is important to member banks at certain times and in certain circumstances. Rates on advances to others than member banks. Under the last paragraph of Section 13 of the Federal Reserve Act, enacted on March 9, 1933, the Federal Reserve Banks may make advances to individuals, partnerships, or corporations on direct securities of the U.S. Government. Such advances, which are made mainly to nonmember banks, have never been an important part of Federal Reserve discount operations. During the defense build-up that began in late 1939 and during World War II, each of the Reserve Banks had a special rate to nonmember banks under this provision. This special rate, which was eliminated in March and April 1946, was at the same level as the regular discount rate for member banks. Table 2 shows discount rates for 1933-63 on advances to individuals, partnerships, and corporations under the last paragraph of Section 13. Rates for the period 1933-41 were not published in Banking and Monetary Statistics. Rates on industrial loans and commitments. Under Section 13b of the Federal Reserve Act, enacted on June 19, 1934, the Federal Reserve Banks were authorized to provide credit to business enterprises for working capital. This section of the Act was repealed effective August 21, 1959, by the Small Business Investment Act of 1958. The volume of industrial loans and commitments was small throughout the period covered by this section of the Supplement except during World War II. Table 3 shows the rates charged on such loans and commitments. These rates are described on page 424 of Banking and Monetary Statistics. Buying rates on Treasury bills. During and immediately after World War II there was a special buying rate for Treasury bills. On April 30, 1942, the Federal Open Market Committee—which makes decisions on open market operations for the System—directed the Federal Reserve Banks to purchase all offerings of Treasury bills at a discount rate of 3/s of 1 per cent per annum.2 This rate applied not only to banks but also to all other holders of Treasury bills, including dealers in securities. On August 7, 1942, the Federal Open Market Committee announced that the seller of the bills could repurchase before maturity a like amount of bills of the same maturity at the same rate of discount. Beginning with May 15, 1943, all purchases of Treasury bills by the Reserve Banks at the posted buying rate of Vs of 1 per cent were made subject to the repurchase option. The buying rate for Treasury bills was discontinued on July 10, 1947. Buying rates on bankers' acceptances. Bank- ers' acceptances purchased by the Federal Reserve Banks have sometimes been an important part of Reserve Bank credit, but during the 1941-63 period the amounts were significant only after 1954.3 The amounts are shown in Table 1-A of "Member Bank Reserves and Related Items," Section 10 of the Supplement, and in Tables 1 and 4 of "Federal Reserve Banks," Section 9. At the beginning of 1941 each Reserve Bank had a minimum discount rate for purchases of prime bankers' acceptances payable in dollars. It was set by the Bank's board of directors and approved by the Board of Governors. "Effective buying rates"—that is, the rates actually charged—were established by the Bank's officers at or above the approved minimum rate. Buying rates at the various Reserve Banks generally were adjusted to agree with the rates at the Federal Reserve Bank of New York. On June 19, 1952, the Federal Open Market Committee assumed responsibility for setting the minimum rate and authorized the Manager of the System Open Market Account to specify the effective buying rates. On March 2 For a description of the Federal Open Market Committee, see The Federal Reserve System—Purposes and Functions, pp. 23 and 232-34. 3 For figures on the total amount of bankers' acceptances outstanding, see Tables 9 and 10 of this section of the Supplement. 2, 1955, the Reserve Banks discontinued their policy of standing ready to purchase at published rates all bankers' acceptances offered. After that they bought and sold under periodic authorizations of the Open Market Committee at market rates of discount. Purchases of bankers' acceptances by the Federal Reserve Banks are sometimes made under repurchase agreement, with the seller obligated to repurchase the acceptances within 15 days. When the Federal Open Market Committee assumed authority over purchases of bankers' acceptances, it did not authorize any purchases under repurchase agreement. This authority was, in effect, restored on March 2, 1955, with the Committee's authorization of repurchase agreements with nonbank dealers in bankers' acceptances at rates prescribed by its executive committee. Responsibility for establishing these rates was assumed by the full committee on June 22, 1955, when the executive committee was abolished. Since August 2, 1955, the authorization to purchase bankers' acceptances has been limited to purchases for the account of the Federal Reserve Bank of New York. The directive of the Federal Open Market Committee on repurchase agreement rates that was in effect at the end of 1963 was the same for bankers' acceptances as it was for U.S. Government securities: To buy U.S. Government securities with maturities of 24 months or less at the time of purchase, and prime bankers' acceptances with maturities of 6 months or less at the time of purchase, from nonbank dealers for the account of the Federal Reserve Bank of New York under agreements for repurchase of such securities or acceptances in 15 calendar days or less, at rates not less than (a) the discount rate of the Federal Reserve Bank of New York at the time such agreement is entered into, or (b) the average issuing rate on the most recent issue of 3-month Treasury bills, whichever is the lower. The effective buying rates at the Federal Reserve Bank of New York on January 1, 1941, for bankers' acceptances of various maturities, the rate for repurchase agreements, and the changes in these rates through March 2, 1955, are shown in the table below. BUYING RATES ON BANKERS' ACCEPTANCES [Per cent per annum] Effective date Outright purchases, by maturity (days) 1 to 90 1941—In effect Jan. 1. 1946—July 12 Aug. 24 1947_Dec. 1 1948—Jan. 12 Aug. 13 1950—Aug. 21 1951—Dec. 18 1952—June 19 1953_j a n . 16 1954—Feb. 5 Apr. 16 1955—Jan. 13 Mar. 2 Mar. 30 91 to 120 VA VA 121 to 180 l VA 1 * Ws WA ig 1% 1% 1% 1% 2 2 2% WA 1% 2% 2VA 2% 18 2 1% 1% Repurchase agreements W& m * /2 WA 1% 0) zz 1% 1 The Federal Open Market Committee terminated authority to make repurchase agreements. 2 Purchases made at market rates of discount under periodic authorizations of the Federal Open Market Committee. 3 Repurchase agreements authorized at rates not less than the lower of (a) the discount rate on eligible paper or (b) the average issuing rate on the most recent issue of 3-month Treasury bills. Rates on purchases of U.S. Government securities under repurchase agreement The Federal Reserve Banks may acquire U.S. Government securities under repurchase agreement, with a commitment by the seller to repurchase the securities within 15 days. The rate of interest is usually equivalent to the discount rate of the Federal Reserve Bank of New York. Within the period covered by this section of the Supplement, 1941-63, the Reserve Banks had no authority to acquire Government securities under repurchase agreement from March 1, 1945, until February 24, 1948, when the Federal Open Market Committee authorized limited transactions with dealers qualified to transact business with the System Open Market Account. Before March 1, 1945, and from February 24, 1948, to July 22, 1952, the Reserve Banks established the buying rate subject to the approval of the Board of Governors. On July 22, 1952, the Federal Open Market Committee assumed the responsibility for set- ting the rate on repurchase agreements on Government securities and directed the Manager of the System Open Market Account to set the effective buying rate at not less than the lower of (1) the discount rate on eligible paper, or (2) the average issuing rate on the most recent issue of 3-month Treasury bills. On June 23, 1954, the Open Market Committee transferred to its executive committee the authority to set the buying rate on Government securities acquired under repurchase agreement. On June 22, 1955, the executive committee was abolished, and its responsibilities were assumed by the full committee. The directive on repurchase agreement rates in effect on December 31, 1963, was the same for U.S. Government securities as for bankers' acceptances (see preceding page). The buying rates on Government securities under repurchase agreement effective during the period 1941-63 are shown in the accompanying table: BUYING RATES ON U.S. GOVERNMENT SECURITIES UNDER'REPURCHASE AGREEMENT Effective date 1941_jan. 1 1945—Mar. 1 1948—Feb. 24 Aug. 13 1949—Aug. 19 1950—Mar. 20 1951 Feb. 8 Oct. 15 1952 July 22 Rate 1 per cent FOMC terminated authority to repurchase 1 VA per cent IVi percent Minimum rate of 1 % per cent Minimum rate of V% of 1 per cent above average issuing rate on most recent issue of Treasury bills Previous rate except that differential might be less than % of 1 per cent above average issuing rate Minimum rate of not more than Vc of 1 per f cent below average issuing rate on most recent issue of 3-month Treasury bills Not less than the lower of (1) the discount rate on eligible paper, or (2) the average issuing rate on the most recent issue of 3-month Treasury bills. MAXIMUM RATES ESTABLISHED BY THE BOARD OF GOVERNORS In addition to its review and determination of Federal Reserve Bank discount rates, the Board of Governors has statutory responsibility for setting maximum rates on member bank time deposits and on certain types of Federally guaranteed loans. Maximum rates on time deposits. The Banking Act of 1933 forbade member banks to pay interest on demand deposits and subjected the interest paid on time and savings deposits to limitations prescribed by the Board. Table 4-A shows the maximum rates on time deposits prescribed by the Board under Regulation Q during 1933-64. The rates payable by member banks may not exceed the maximum rate payable by State banks or trust companies on like deposits under the laws of the State in which the member bank is located. Maximum rates for insured nonmember commercial banks are established by the Federal Deposit Insurance Corporation. Effective February 1, 1936, these rates have been the same as those for member banks. On October 15, 1962, Section 19 of the Federal Reserve Act was amended to exempt, for 3 years (later extended to October 15, 1968) deposits of foreign governments and certain international institutions from regulation by the Board of Governors as to rates of interest that member banks may pay on time deposits. The legislation included a similar amendment to Section 18(g) of the Federal Deposit Insurance Act for such deposits in nonmember insured banks. Maximum rates under Regulation V on guaranteed loans. During World War II the U.S. Government provided for the guarantee of loans to finance the production of materials and services deemed essential by military and dther Federal procurement agencies. A similar program has been in effect since 1950 when war broke out in Korea. The Federal Reserve Banks have acted as fiscal agents of the guaranteeing agencies under Regulation V of the Board of Governors, and the Board has specified—after consultation with the guaranteeing agencies—the maximum rate of interest and the commitment fee that the financing institution may charge the borrower on guaranteed loans and the guarantee fee to be paid the guaranteeing agency. The World War II program for guaranteed loans began when Executive Order 9112 was issued on March 26, 1942. Under this Order the Board of Governors issued Regulation V, effective April 6, 1942. The authority of the guaranteeing agencies was broadened under Executive Order 9336 of April 24, 1943, and the Contract Settlement Act of 1944 to cover loans enabling contractors to obtain release of working capital promptly upon termination of war production contracts. The last guaranteed loans under this part of the program were made in May 1946. The second guaranteed loan program was authorized under the Defense Production Act of 1950 and Executive Order 10161 of September 9, 1950. The Board's Regulation V was revised and reissued effective September 27, 1950. Table 4-B shows the maximum interest rate and commitment fee on guaranteed loans and the guarantee fee for 1942-63. MONEY RATES AND RELATED STATISTICS Statistics on interest rates indicate the cost of credit to borrowers and the rate of return to those who lend and invest. Actions of the Federal Reserve System are likely to have an effect on money rates of different types. And the Federal Reserve System takes these probable effects into consideration in determining monetary policy. The money rate series in Tables 5-8 include short-term open market rates in New York City, effective rates on Federal funds, yields on short-term U.S. Government securities, and rates charged on business loans by banks in principal cities. Tables 9 and 10 show the volume of commercial and finance company paper and of bankers' acceptances outstanding; BASIS OF FIGURES USED IN AVERAGE YIELDS ON SHORT-TERM SECURITIES Series Prime commercial paper... Finance company paper Prime bankers' acceptances. Stock exchange call loans.. New Renewals Federal funds U.S. Government (short-term) New issues (bills) Market yields Weekly figures Monthly figures Annual figures Averages of daily figures Averages of daily figures Averages of daily figures Average yield on all Average yield on all ac- Averages of weekly accepted bids cepted bids figures Averages of daily clos- Averages of daily closing Averages of weekly ing bids bids figures these figures are of interest in connection with the rates on such paper, given in Table 5.4 The accompanying table shows the basis for calculating average yield series. SHORT-TERM OPEN MARKET RATES IN NEW YORK CITY When a bank does not have enough reserves and cannot replenish its supply by, for example, withdrawing balances from a correspondent bank, by purchasing Federal funds, or by raising rates on time certificates of deposit so as to attract funds, it has the choice of borrowing from the Reserve Bank at the discount rate or of liquidating some of its assets. The assets that it is most likely to liquidate are those that involve the smallest loss of principal or yield or that have a fully developed market, which permits sales without a significant concession in price. Short-term open market paper is that type of an asset. The short-term open market rates shown in this section are those quoted in New York City, which is the chief money market center in this country. Money from all parts of the country is loaned in that market, and in normal 4 The volume of loans or securities of other types for which open market rates are shown in this section will be made available in other sections of Supplement to Banking and Monetary Statistics. times borrowers throughout the world obtain funds there. While U.S. short-term markets are closely interrelated, each deals with a specialized instrument. Hence, rates in these markets vary to some extent depending on differences in the supply of short-term funds relative to the demand from the various types of short-term borrowers. These markets are called "open" markets because transactions in them are usually on an impersonal basis with the borrower and lender dealing through agents, as distinct from a "customer" market where the borrower and lender deal directly with each other and where transactions are often on a personal basis. As a result of the impersonal relationships that exist in the open market, lenders may feel more free to sell the paper they hold, to call their loans if necessary, or to refrain from renewing credits upon maturity. Table 5 includes three series of rates for loans based on commercial transactions and two series of rates for loans based on security collateral. These figures are collected by the Federal Reserve Bank of New York. Rates on commercial paper and on bankers' acceptances are averages of daily offering rates of dealers. Rates on finance company paper placed directly—not available before 1947— are averages of daily rates for varying maturities in the 90-to- 179-day range; rates are quoted by the individual finance companies that place such paper. Rates on Stock Exchange call loans are averages of daily quotations. Separate figures for new and renewal rates were discontinued beginning with March 1957, and only one rate is available thereafter. During 1941-45 the rate on bankers' acceptances was unchanged at 0.44 per cent and that on Stock Exchange call loans—new and renewal—was unchanged at 1.00 per cent; therefore no figures for these series are shown in the weekly table until 1946. EFFECTIVE RATES ON FEDERAL FUNDS Federal funds are excess reserves on deposit with Federal Reserve Banks that commercial banks and others may borrow or lend to adjust reserve positions or to make payments in immediately available money. The major participants in the Federal funds market are commercial banks, especially the larger banks in financial centers. These banks borrow Federal funds to cover their reserve deficiencies and lend Federal funds to employ their excess reserves. Large banks also trade in Federal funds with their correspondent banks as an accommodation to them. Other participants in the Federal funds market include dealers in U.S. Government securities, agencies of foreign banks, and a few savings banks. The "effective" rate on Federal funds is estimated each day by the Federal Reserve Bank of New York. It is not a statistical calculation, such as an average, of the rates paid on all transactions in Federal funds. Rather, it represents a concensus of major market participants in New York City as to the rate at which most transactions in these funds were executed during the day, after taking into account reports from active participants in the market. The data shown in Table 6 begin with the week ending July 14, 1954, when the Federal Reserve Bank of New York began to estimate the daily figure. YIELDS ON SHORT-TERM U.S. GOVERNMENT SECURITIES During the 193O's the supply of private open market .paper declined sharply, and banks invested an increasing amount of funds in U.S. Government obligations, particularly those with short maturities. Over the years nonbank investors too, particularly business corporations, have become important holders of short-dated Government securities. As a consequence, market yields on short-term Government securities have come to be regarded as basic series on open market money rates. The Treasury's short-term marketable debt consists of bills and coupon issues. Bills were first issued by the Treasury in December 1929. They differ from other types of securities because they are sold on a discount basis instead of being offered with an interest coupon. Treasury bills have been issued with varying maturities of up to 1 year, but the largest amount outstanding has been in 3-month bills. As of the end of 1963, bills were being offered with maturities of 3 months, 6 months, and 1 year.5 There were no 6-month bill offerings between the mid-1930's and late 1958, and 1-year bills were first marketed in July 1959. The Treasury's short-term coupon obligations consist of certificates of indebtedness, notes, and bonds.6 Certificates are issued with maturities not exceeding 1 year. Notes have initial maturities of 1 to 5 years, while bonds have original maturities of more than 5 years. Table 7 shows yields on short- and intermediate-term U.S. Government securities, and Tables 11 and 12 show yields and prices of long-term U.S. Government bonds. The market yield series shown in Table 7 are based on closing bid quotations reported daily to the Federal Reserve Bank of New York by dealers in U.S. Government secur5 The Treasury also issues tax anticipation bills on which maturities usually range from 3 to 9 months. 6 The Treasury has at times issued certificates of indebtedness bearing no coupons; accrued interest on such issues is paid at maturity. ities.7 Quotations on 3-month, 6-month, and 12-month Treasury bills are for the issues closest to these maturities. The rate on new issues represents the average yield on all accepted bids for such issues. There are two yield series for short- and medium-term coupon issues. The short-term series is composed of selected certificates, notes, and bonds due in 9 to 12 months, while the medium-term series is made up of selected notes and bonds due in 3 to 5 years. The average maturity of the issues in each category varies somewhat with the passage of time and as new issues are added and old ones removed. Market yields on Treasury bills are not strictly comparable with those of coupon issues. Bill yields are computed on a bank discount rate basis and therefore only approximate a true yield. More specifically, the computation of the discount makes use of a 360day year, and it bases the return on par rather than the discount normally paid for the bills. Moreover, it ignores the results of compounding for bills maturing in more than 6 months. The first two considerations give the yield a downward bias, and the upward bias resulting from the absence of compounding on longer bills offsets this only in part. BANK RATES ON SHORT-TERM BUSINESS LOANS Another market for short-term funds is that in which banks provide credit to their customers. A substantial proportion of the business credit extended by banks is in the form of short-term loans directly to individual customers. Because these loans involve a variety of considerations arising out of customer relationships, the market for them differs considerably from the open market for short-term funds. 7 Before April 1953, yields were based on the mean of closing bid and asked quotations. For bonds with optional call d,ates, yields are computed to earliest call date for issues selling above par and to final maturity for those selling at or below par. Table 8 shows two series on interest rates that are applicable to this market: (1) the prime rate and (2) average rates. Prime rate. The prime rate is the rate that banks charge their most creditworthy business customers on short-term loans. It is the base from which rates charged on loans to other business customers are scaled upward. The prime rate is not a sensitive rate that fluctuates daily in response to short-term changes in demand and supply as measured by a national market. Rather, its movements tend to be infrequent, and they tend to lag appreciably behind changes in the general business situation and in open market money rates. Prime rates are "formally" posted only by the largest banks. A nationally publicized and uniform prime rate did not emerge until the depression of the 1930's. The rate in that period—Wi per cent—represented a floor below which banks were said to regard lending as unprofitable. The rate remained at that level until December 1947.8 The criteria that borrowers must meet if they are to qualify as "prime" cannot be precisely defined. Over the long run about half of the total dollar volume of short-term business loans (including new loans and renewals) reported by the banks in the 19 leading cities that are included in the Federal Reserve quarterly survey of interest rates have carried the prime rate; this proportion is subject to some cyclical fluctuation. The proportion is much higher for large loans and is much lower for small loans. Table 8-A shows the effective dates of changes in the prime rate beginning with 1929. The date shown is that on which the new rate was put into effect by the first bank to make the change. The table shows a range of rates for 1929-33 because no information is 8 For a discussion of the history of the prime rate and its role in the lending process, see "The Prime Rate," Monthly Review, Federal Reserve Bank of New York, April and May 1962, pp. 54-59 and 70-73. available to indicate when the rate changed in that period. Average rates on business loans. Because of the wide range in rates charged on individual loans at any one time—owing to variations in the type of borrower and the type of loan— it has been difficult to compile a series of representative or typical rates with assurance of consistency over time. In order to improve the series, methods of reporting the basic data and of compiling the series have been changed from time to time. The Federal Reserve series on interest rates charged by banks on business loans begins with 1919. Since then the System has collected reports on rates charged by selected large member banks in a number of leading cities on specified types of loans. The number of cities reporting and the types of loans included have varied. In January 1928, the number of reporting cities became constant at 19—New York City, 7 other northern and eastern cities, and 11 southern and western cities. In March 1939 a revised system of quarterly reporting was instituted. The new series was limited to rates on new short-term commercial and industrial loans. To provide a comparison of the new rates with those for previous years, a revised set of figures for the period January 1928-February 1939 was compiled from reports previously submitted. The leading cities covered by the interestrate series are representative financial centers. They have large loan markets, and the interest rates there are probably more responsive to changes in general monetary conditions than are rates in other places. Because of the financial importance of these cities, their influence predominates in any compilation of rates designed to show movements of rates in large cities. Surveys conducted by the Federal Reserve System in the 1940's made available important new data regarding interest rates and discount rates on bank loans and the relationship of various loan and borrower characteristics to the interest rate. Such data emphasized the need and provided the basis for a comprehensive revision of the series. This revision began with June 1948. The reporting form adopted at that time provided data for each loan whereas previously the bank had reported the total number and dollar amounts of loans made at certain interest rates or within a certain range of rates. Data reported on the new form, as well as data obtained in previous and subsequent comprehensive business loan surveys, indicated that the wide variation in rates at any given time reflected differences in size of loan more than it reflected differences in city or region, which had been the basis of earlier averages. For this reason changes in average rates from one period to another before the revision often reflected changes in the size distribution of loans rather than in the general level of interest rates. Data for individual loans permit the computation of average rates in a manner that adjusts for changes in size composition. Therefore, they reflect more accurately variations over time in the level of interest rates. Table 8-B shows average rates charged by selected large member banks in 19 leading cities on short-term business loans classified by four size classes and by three geographic areas quarterly beginning with June 1948. Data previously compiled were reworked for the period March 1939-March 1948 to provide estimates of average rates charged on loans for all 19 cities by the same size-of-loan classifications as those shown for the new data. These figures are shown in Table 8-B. There are no size-of-loan figures for the three geographic areas until June 1948. The following paragraphs describe how average rates have been computed on the basis of the types of data that have been available since June 1948. The averages are based on rates charged on each loan (new or renewal) that was made for business purposes during the first 10 COMMERCIAL AND FINANCE COMPANY PAPER AND BANKERS' ACCEPTANCES OUTSTANDING 15 days of March, June, September, and December. 1. All short-term business loans—that is, those with a maturity of 1 year or less—are sorted out by the Federal Reserve Banks and then grouped by major geographic area: New York City, 7 northern and eastern cities (Boston, Buffalo, Philadelphia, Pittsburgh, Cleveland, Detroit, and Chicago), and 11 southern and western cities (Baltimore, Richmond, Atlanta, New Orleans, Dallas, St. Louis, Kansas City, Minneapolis, Seattle, San Francisco, and Los Angeles). Tables 9 and 10 show amounts of commercial and finance company paper and bankers' acceptances outstanding. The acceptance figures are shown by type of holder and by type of acceptance. Before 1948 only a total for commercial paper is available; this appears in Table 9. Thereafter, figures are available for commercial paper and finance company paper combined, and this total is broken down by method of placement (Table 10). Table 9 shows end-ofmonth data for 1941-52; Table 10, end-of-year 1948-52 and end-of-month 1953-63. All figures were compiled by the Federal Reserve Bank of New York. The maturity coverage and the reporting coverage for commercial paper are not entirely comparable over the period. The figures in Table 9 represent paper maturing within 7 months, as reported by principal paper dealers in this country. Those in Table 10 represent paper with an original maturity of 9 months or less (including some finance company paper sold in the open market) as reported by a varying number of dealers. Finance company paper placed directly with investors represents the amount reported by a varying number of finance companies. Table 10 shows the amount of such paper outstanding beginning with December 31, 1948, the earliest date for which these figures are available. Before November 1958 a small amount of finance company paper with an original maturity of more than 270 days was included with total finance company paper; thereafter the totals include all paper in this maturity grouping. Figures for bankers' acceptances are amounts reported by banks and bankers in the United States as well as by agencies of foreign banks located in the United States. 2. The loans for each area are then broken down into nine size classes: Size class (thousands of dollars) 1-5 5-10 10-25 25-50 50-100 100-200 200-500 500-1,000 1,000 and over 3. Averages of rates paid on loans in each size class are computed for each area by dividing the dollar amount of interest charged, figured at an annual rate, by the dollar amount of loans made in each class. 4. The resulting averages for nine size classes for each area are combined into four major size groups (see Table 8-B). The weights used for this computation are based on the importance in each area of the minor size classes in the loan portfolio of the reporting banks as of the November 20, 1946, survey of business loans. 5. For the four major size groups an average rate for all 19 cities is calculated by combining the corresponding averages for the three geographic areas. These too are weighted averages, based on the distribution of short-term loans outstanding at ratereporting banks on November 20, 1946. 6. For each of the three geographic areas, and for all 19 cities taken together, an average rate is computed to show the over-all average movements in rates on all sizes of loans. In each case this average is obtained by combining the average rates for the four major size groups of loans.9 9 For an illustration of the calculation of average interest rates for Dec. 1-15, 1948, see the March 1949 Federal Reserve Bulletin, p. 235. 11 SECURITIES MARKETS Credit conditions are affected by and affect various developments in securities markets. An important part of the Board's continuous study of general credit conditions, therefore, is concerned with securities markets and changes in long-term interest rates. An additional reason for watching the securities markets grows out of the Board's responsibilities for regulating margin requirements for the purchase and sale of listed stocks. In this respect credit policy is directly related to the securities markets. The statistics for securities markets are organized into two groupings: bond yields and prices (Tables 11-13); prices and yields on stocks, and volume of trading (Tables 14-18). The following paragraphs describe these series in detail. The accompanying table has been designed to show users of the statistics in Tables 11 through 15 how the averages of security yields and prices are calculated. Figures for stock market credit and new security issues and for changes in outstanding corporate securities are discussed on pages 17-24. Differences in bonds and stocks are described on page 21. obligations before maturity. For each of these, capital gains or losses arising out of price changes may be more important than market yields. Nor do yields reflect the costs of funds to the borrower. When a new security is marketed, its yield is related to the market yield on outstanding issues of comparable quality and terms, but the yield on the new issue generally exceeds the yield during the same period on outstanding issues by the cost of flotation—including underwriters' compensation—and any discount from market price that may be required to facilitate initial placement of the issue. Yields on different types of long-term securities reflect—in addition to the general level of interest rates—relative supplies of various types of securities, preferences (including those imposed by legislation and regulation) of investors for the various types, relative amounts of funds available to investors with different types of preferences, and distinctive characteristics of the various types of securities. Among the latter, the most important are the market's evaluation of differences in underlying risk, differences in marketability, and differences in the tax status of the income return to investors.10 The price and yield series presented in Tables 11, 12, and 13 are classified by some of these characteristics. Table 11-A shows annual and monthly yields for U.S. Government bonds; for State and local government bonds, by rating; and for corporate bonds by rating and by industry. Table 11-B shows weekly data for these series, except that Moody's series for State and local government bonds do not begin until 1948. Table 12 shows price series for U.S. Government, high-grade State and local government, and high-grade corporate bonds. These series BOND YIELDS AND PRICES Changes in bond prices are useful as rough indicators of changes in the value of invested funds, particularly over short periods of time. Prices of bonds, however, are not precise measures of the return to the purchaser; the return is also affected by the coupon rate and the length of time to maturity. Market yields, which indicate the percentage rate of return to investors on securities purchased at current market prices and held to maturity (taking into account the effect of differences in the length of time to maturity and in coupon rates), measure changes in the costs of money more precisely than prices. However, they do not necessarily reflect the return realized by purchasers on other dates or by investors who dispose of their 10 Yields on securities also vary because of differences in term to maturity. Except for Table 13, only long-term securities are considered here (for discussion of yields on shortterm securities see pp. 7-9). 12 BASIS OF FIGURES USED FOR AVERAGE YIELDS AND PRICES ON LONG-TERM SECURITIES Series U.S. Government bonds: Yields Prices (dollars) State and local government bonds: Yields: Moody's Standard and Poor's (high-grade). Prices: Standard and Poor's (high-grade). Corporate bonds: Yields: Moody's Standard and Poor's (high-grade). Prices (dollars): Standard and Poor's (high-grade). Common stocks: Prices (indexes) Standard and Poor's: 1900-18 1919-27 1928Securities and Exchange Commission Monthly figures, averages of— Averages of daily closing bids Thurs. figures Wed. figures Averages of daily closing bid Wed. closing bid Daily figures Wed. figures Monthly figures • 0). (i). Averages of daily 3 Last sale price during week (i). Monthly high and low Figures for one day per week: Fri. Feb.-Dec. 1928; Thurs. Jan. 1929Apr. 1930; Wed. thereafter 2 Weekly figures Monthly figures Monthly figures (4). 1 Not published in this section of the Supplement. Based on indexes published by the Cowles Commission; see text. 3 Weekly averages in Table 14-B begin with 1934. Same as for price series shown above. 2 4 are not averages of actual prices (except for U.S. Government bonds prior to April 1952) but are derived from three of the corresponding yield series shown in Table 11-A. They represent prices that are equivalent to those yields on the basis of an assumed coupon rate and term to maturity. Thus, they indicate what Monthly high and low Figures for one day per week: Wed. Jan. 1918Oct. 1923; Mon. Nov. 1923Dec. 1925; Fri. Jan. 1926Dec. 1927 Daily figures Weekly figures Figures for one day per week: Fri. Jan. 1926Dec. 1928; Thurs. Jan. 1929Apr. 1930; Wed. thereafter Feb. 1928- Yields Weekly figures Thurs. closing asked Wed. closing bid Yields (dividends/price ratio): Standard and Poor's Preferred stocks—Standard and Poor's Prices (indexes) Jan. 1910-Jan. 1928 Annual figures, averages of— Daily closing bids Weekly figures price movements would have occurred for a representative bond of unchanging coupon and maturity. Because of the wide and shifting variety of coupon rates and maturities of bonds actually outstanding, they do not measure the actual average level of current price quotations in the market. 13 Table 13 shows annual figures for basic yields on corporate bonds with various periods to maturity. The basic yield is defined as the yield of the highest grade issues that are free from extraneous influences—that is, bonds that are nonconvertible, noncallable, fully taxable, free from manipulation, and so forth. The following paragraphs describe the composition of individual series shown in Tables 11-13 as well as the sources of the data. on the basis of quality, trading activity, and geographic representation; the average quality of the bonds is between AAA and A. Prices (Table 12). The series on prices of high-grade State and local government bonds is derived from the average yields shown in Table 11-A on the basis of an assumed 4 per cent bond with 20-year maturity. Source: Standard and Poor's Corporation Security Price Index Record, 1964 Edition, pages 204-05, and earlier editions. State and local government bond yields—Moody's series (.Table 11). Series represents the market yield to maturity on long-term tax-exempt State and local government bonds as reflected in the yields of selected bonds rated Aaa, Aa, A, and Baa by Moody's Investors Service. The 20 bonds included are all general obligation issues with an average maturity of 20 years. They are selected on the basis of quality (5 bonds in each of the four quality rating groups), trading activity, and geographic representation. The yield for each group is an unweighted arithmetic average for the 5 bonds included, computed from Thursday closing asked quotations and adjusted as necessary for occasional abnormally wide spreads between bid and asked quotations and for other temporarily distorting factors. The composite series is an average of the average yields for the four rating groups. Weekly data are not available before 1948. Source: Monthly and annual averages, Moody's Municipal and Government Manual, 1964 Edition, pages a20-a22; weekly figures, Moody's Bond Survey. High-grade corporate bonds—Standard and Poor's series: Yields (Table 11). Series is an arithmetic average of the yields to maturity of 17-19 taxable, nonconvertible, representative corporate bonds rated AAA by Standard and Poor's Corporation.13 It includes the bonds in Standard and Poor's AAA industrial, railroad, and public utility series. Both the number of bonds and the average maturity vary slightly from time to time as deletions are made to reflect changes in rating or approaching maturity, or because a bond is called or sells too far above its call price and no appropriate substitute is immediately available. As of February 1964, the three major categories contained 7, 5, and 6 bonds, respectively, and the average term to maturity was about 26 years. The weekly figures in Table 11 are averages of the yields for the three industry groups combined; each of these figures in turn is an unweighted arithmetic average computed from Wednesday closing bid quotations for the bonds in the particular industry group. Prices (Table 12). Series is derived from the average yields shown in Table 11-A on the basis of an assumed 4 per cent, 20-year bond. Source: Standard and Poor's Security Price Index Record, 1964 Edition, page 183, and earlier editions. U.S. Government bonds: Yields (Table 11). An unweighted arithmetic average of yields on a varying number of long-term U.S. Government marketable bonds is computed each day from closing bid prices; these yields are computed to maturity for bonds selling at or below par and to first call date for those selling above par. This series includes partially tax-exempt bonds for the period before November 1941 and fully taxable bonds thereafter. The maturity groupings on which the series is based vary: the series includes bonds due or callable after 15 years for the period January 1941-March 1952; after 12 years, April 1952-March 1953; and 10 years or more beginning with April 1953.X1 The average maturity of the issues in the series varies because of changes in definition and also because of the passage of time and the inclusion of new bonds after issuance. Source: Federal Reserve Bulletin. Prices (Table 12). The series for prices of U.S. Government bonds is based on the same issues as the yield series. For the period January 1941March 1952 it is an unweighted arithmetic average of actual closing bid prices. Beginning with April 1953, it represents hypothetical prices derived from the yield series on the basis of an assumed 3 per cent, 20-year bond. Source: Federal Reserve Bulletin. High-grade State and local government bonds— Standard and Poor's series: Yields (Table 11). An arithmetic average of the yield to maturity of 15 high-grade (rated A or better 12 ) tax-exempt, general obligation bonds of State and local governments in the United States is computed from Wednesday closing bid quotations; the maturity of each bond is approximately 20 years. The issues are selected 11 Bonds paying interest subject to full Federal income taxation were first issued in March 1941. Until that time interest on U.S. Government bonds was partially tax exempt. A varying, but decreasing, volume of these bonds remained outstanding during the period 1941-62. 12 Both Standard and Poor's Corporation and Moody's Investors Service rate State and iocal government and corporate bonds by quality; the former uses the designations AAA, AA, A, and BBB for investment-grade bonds in order of ascending risk, while the latter uses the designations Aaa, Aa, A, and Baa, also in ascending order of risk. Bonds rated AAA and Aaa, those rated AA and Aa, and so forth, by the respective organizations are of approximately the same quality. 13 This high-grade yield series is not the same as the one shown in Banking and Monetary Statistics. That series, which was compiled by the U.S. Treasury, has been discontinued. 14 covered and which were not subject to special influences, with occasional reference to municipal and government yield quotations for interpolation of maturities. For each year the yields to maturity of outstanding bonds were plotted by term to maturity on a scatter diagram. The basic yield curve for each year is a free-hand curve so fitted that it passes below most of the yields on the chart but usually above a few isolated low ones. Basic yields for each maturity are read from the curve. The yields shown in Table 13 are for selected maturities that were least subject to error and required least reference to State and local and to U.S. Government yield quotations for interpolation of maturities.14 There have been no issues of 50-year or 60year corporate bonds in recent years; hence, it has become impossible to obtain reliable basic yield estimates for obligations with maturities of more than 30 years. It has also been difficult to obtain a valid basic yield for prime obligations in the short-term area; the 1-year yield shown here is an approximation obtained by extrapolation of yields on government bonds and on equipment trust certificates. Data for 1941-57 are based on high and low quotations for each of the first 3 months of each year; the 1958-63 figures are based on actual end-ofmonth sales or quotations for February. Source: 1942-53, The Economic Almanac 1953-54, page 119, National Industrial Conference Board. 195358, David Durand, "A Quarterly Series of Corporate Bond Yields, 1952-1957, and Some Attendant Reservations," The Journal of Finance, Volume XIII, Number 3, September 1958. 1959-63, Scudder, Stevens, and Clark, New York. Corporate bond yields—Moody's series: (Table 11). Moody's corporate bond yield series represent market yields to maturity on long-term, taxable, nonconvertible seasoned corporate bonds as reflected in quotations on selected bonds rated Aaa, Aa, A, and Baa by Moody's Investors Service. Seven groupings are shown—4 series by quality rating (Aaa, Aa, A, and Baa), and the 3 industry series (industrials, railroads, and public utilities). The total number of bonds included, according to Moody's formula, is intended to be 120, with each quality rating group including 10 industrial, 10 railroad, and 10 public utility bonds. But there have not always been 10 bonds in each classification that would meet all the criteria for suitability. For example, as of July 1964, the Aaa series included 7 industrials, 6 railroads, and 10 public utility bonds; the Aa series included 10 industrials, 5 railroads, and 10 public utility bonds; and the other two rating groups each included 10 bonds in each industry group. The average term to maturity of the bonds included has also varied somewhat over time. In July 1964 it was about 24 years, with industrial bonds having a slightly shorter, and railroad bonds a slightly longer, term to maturity. The daily yield for each bond is computed on the basis of its closing price, as reported in dealer asked quotations, adjusted as necessary for occasional abnormally wide spreads between the bid and asked quotations or for other temporarily distorting factors. Figures for each industry grouping of each rating group are unweighted arithmetic averages of the yields on the individual issues in that group. Figures for industry groups are averages of all ratings for the industry; for rating groups, averages of figures for all three industries. And the total is an unweighted average of the averages for the three industry groups. Issues are selected to represent typical long-term bonds in each rating group for the three industrial categories. Substitutions in the bond list are made when a rating has been changed, when a bond has been called or sells too high above its call price, or when it is approaching maturity. Suitable adjustments (usually small) are introduced to prevent substitution from impairing the comparability of the series; these adjustments are gradually amortized. Source: Monthly and annual averages: Moody's Industrial Manual, 1964 edition, pages al9-a21; Moody's Transportation Manual, 1964 edition, pages a48-a50; Moody's Public Utility Manual, 1964 edition, pages a4-a6; weekly data: Federal Reserve computation from daily figures published each week in Moody's Bond Surveys. Basic yields of corporate bonds (Table 13). The series on basic yields shown in Table 13 represents the yields estimated to have prevailed in the first part of each year on the highest grade corporate issues, classified by term to maturity. Each estimate is based on quotations for practically all high-grade, seasoned, nonconvertible, corporate bonds for which valid quotations were available during the period STOCK PRICES, YIELDS, AND TRADING VOLUME This section includes two series on prices of common stocks and one on prices of preferred; also series on dividend and earnings yields on common stocks and dividend yields on preferred stocks. In addition to the descriptions given below, users of the statistics may refer to the tabulation on page 13, which shows the basis of the figures used in calculating the averages shown in Tables 14-16. Common stock prices. Each of the price indexes for common stocks—Standard and Poor's shown in Table 14 and the Securities and Exchange Commission series shown in Table 15—is designed to measure composite 14 See Banking and Monetary Statistics, p. 477, for a wider range of maturities for earlier years. 15 changes in price for a large group of actively traded common stocks, which account for a high proportion of the total market value of stocks listed on the New York Stock Exchange. The series in Table 15 was discontinued by the Securities and Exchange Commission at the end of May 1964. This table has been updated to show figures to that date. The selections for the series in both Tables 14 and 15 were based on (1) aggregate market value of all outstanding shares of each stock, (2) trading activity, and (3) industry representation. The statistical concepts and procedures used in computing the two series are almost identical too. Both series are indexes— that is, prices for a given period are expressed as a relative of prices for a selected base period. They do not represent actual prices. They are designed to permit both short- and long-run comparisons of price changes for listed issues after eliminating the distorting effects on prices of issuance of rights, mergers, and so forth. Nevertheless the two indexes do differ in a number of ways. For instance: (1) Standard and Poor's index covering some 500 stocks is somewhat broader in coverage than the SEC index, which covers 300 stocks. (2) Standard and Poor's index is based on daily closing prices; the SEC index, on weekly closing prices. (3) Major industry groupings in the Standard and Poor's index conform to market usage, whereas the SEC classification is based on the Standard Industrial Classification of companies used in most Governmental statistical series.15 the stocks in the sample expressed as a percentage of the average market value of the stocks included in the series in a base period (1941-43 = 10). So that the indexes will reflect only fluctuations in current market values, adjustments in the base-period value are made, as necessary, to offset the effect of issuance of rights and consolidations and acquisitions. Additions to or deletions from the list also make it necessary to adjust the base value. Each stock in the index is weighted (number of shares outstanding multiplied by daily closing price) so that its influence will be in proportion to its market importance. Market values for the component stocks are aggregated to obtain the market value for their particular group. These values are all expressed as a relative, or index number, to the base period (1941-43) market value, and the index is obtained by multiplying the resulting quotient by 10. Daily indexes before February 1957, when the new base period was first used (and daily computation of the 500 stock series began), are a conversion of Standard and Poor's earlier 90 stock index. Monthly figures for the period 1900-18 are based on the Cowles Commission stock price indexes, adjusted to the 1941-43 base by Standard and Poor's. Source: Standard and Poor's Corporation Security Price Index Record, 1964 Edition. The SEC price index, which was discontinued in late May 1964, is a measure of the average prices of 300 of the more actively traded common stocks listed on the N.Y. Stock Exchange. This group accounted for about two-thirds of the value of all trading in common stocks on the exchange in 1957.17 Like the Standard and Poor's indexes, this index represents the aggregate market value of the stocks included (that is, price multiplied by shares outstanding) for a given period expressed as a percentage of the aggregate market value of these same stocks for a base period (1957-59 average = 100) with appropriate adjustments to eliminate the effect on prices of the issuance of rights, mergers and so forth. Source: Securities and Exchange Commission, S.E.C. Stock Price Index. Yields and earnings/price ratios. The yield on common stocks shown in Table 16 is for stocks in Standard and Poor's 500 stock index. It is obtained each week by dividing the aggregate cash dividend (based on the latest known annual rates for the stocks included in the index) by the total market value for a single day during the week as described in the table on page 13. The earnings/price ratio is obtained by dividing aggregate earnings of the 500 stocks in the Standard and Poor's common stock index for the period by aggregate market values of the stocks at the end of the period. For the period 1926-34, the figures are for the Standard and Poor's index of common stocks measures average price movements of 500 common stocks (425 industrial,25 railroad, and 50 public utility) representing about 90 per cent of the market value of all common stocks listed on the N.Y. Stock Exchange.16 The indexes are based on the aggregate market value of 15 In addition, Standard and Poor's publishes indexes for more subindustries than the SEC, but the tables in this section are limited to the major industry groups. 16 The indexes presented in these tables—total, industrial, railroad, and public utility—are further broken down by Standard and Poor's into 99 subgroups. 17 In addition to the total index and major industry groups shown in the tables in this section, the Commission also published data for 32 subindustries, also based on the Standard Industrial Classification. 16 in Tables 17 and 18. Statistics on the volume of trading on other exchanges are available in reports of the SEC; in general, trading on other exchanges has tended to fluctuate with that on the N.Y. Stock Exchange, but is very much smaller. Data on trading in the over-thecounter market are not available. Table 17 shows the volume of share trading in round lots as reported by the Exchange and on the Exchange ticker; it excludes "odd lot" (generally less than 100 shares) and "certain minor" transactions, which are not reported on the Exchange ticker. The weekly averages for the period 1934-63, shown in Table 17-B, have been computed by dividing aggregate weekly trading volume by the number of trading days in the week, each day representing 5l/i hours of trading. On September 29, 1952, trading on the Exchange was increased from a 5-hour to a 5lA -hour day Monday through Friday, and the 2-hour trading day on Saturday was discontinued. Weekly data for the period before that date have been adjusted to the current basis by assuming hourly trading would have been the same regardless of the length of the trading day. Table 18 presents figures compiled by the SEC on the total volume of shares traded on the Exchange and the money value of these sales. These figures include round-lot volume as reported by the N.Y. Stock Exchange and also trading in odd lots and "unreported" round-lot transactions. They are compiled from reports furnished by members of the N.Y. Stock Exchange in connection with fees payable under the Securities Exchange Act of 1934. end of the year and are based on actual earnings of the 500 companies during the year. From 1935 on, the ratios are for the end of each quarter; aggregate earnings are converted to an annual rate by taking the average earnings for the quarter for the stocks in the index, adjusting these earnings for seasonal variation, and multiplying that figure by 4. From 1935 through the third quarter of 1950, aggregate earnings are based only on those of companies reporting quarterly, but by the end of that period coverage had become almost complete. Beginning with the fourth quarter of 1950, estimates of quarterly earnings for the missing companies have been included. The annual figures since 1935 are averages of the four quarterly ratios. Source: Standard and Poor's Corporation Security Price Index Record, 1964 edition. Preferred stock prices and yields. The series for prices and yields of preferred stocks shown in Tables 14 and 16 are from Standard and Poor's Corporation. The preferred stock price series, as with the bond price series, does not represent averages of actual prices since February 1928; since that time, the yield series for preferred stocks described below has been converted to a price basis assuming a $7 dividend. For earlier years (January 1910-January 1928) the monthly data are averages of monthly high and low prices for 20 high-grade preferred stocks, the price of each being first adjusted to represent a stock with par value of $100 and an annual dividend of $7. Before February 1928 the yield was computed from the average price of 20 high-grade preferred stocks computed as described above. Beginning with February 1928 the preferred stock yield has been computed for a single day each week by determining the yield for each of 15 (14 in February 1964) highgrade, noncallable issues, and using the arithmetic average of 9 (8 in February 1964) median yields to represent the entire group. Source: Standard and Poofs Corporation Security Price Index Record, 1964 edition. Trading volume. Statistics on the number of shares traded and the dollar volume of trading in stocks on the N.Y. Stock Exchange appear STOCK MARKET CREDIT Since 1934 the Board of Governors has been obligated by law to prevent excessive use of credit for purchasing or carrying securities. The Board was given power to limit the amount of credit that can be extended for purchasing or carrying stocks listed on national securities exchanges. The limitations set by the Board are known as margin requirements. The following paragraphs describe margin requirements as applied to brokers and dealers and to banks and the various statistical measures of stock market credit. Table 19 17 shows the changes in margin requirements, Table 20 the volume of stock market credit extended to customers by member firms of the N.Y. Stock Exchange and amounts borrowed by firms that carry margin accounts for their customers for the period 1938-63; Table 21, more detail on selected balance sheet items of such member firms for the years 1942-63; and Table 22, borrowing by all member firms of the N.Y. Stock Exchange for the period 1941-63. and individual brokers may require even higher margins than those prescribed. The requirements under Regulation T, which became effective October 1, 1934, were those already established as a standard by the Securities and Exchange Act, which had placed margin requirements on various issues of listed stocks and bonds within a range of 25-45 per cent, the requirement for each issue depending on the relationship between its price at the time of the loan and its lowest price since July 1, 1933. As of February 1, 1936, the Board raised the upper limit of the range to 55 per cent, and as of "April 1, 1936, it made the 55 per cent requirement applicable to all listed stocks and bonds regardless of previous price. Effective May 1, 1936, Regulation U of the Board of Governors made comparable margin requirements applicable also to loans made by banks on stocks for the purpose of purchasing or carrying listed stocks. On November 1, 1937, margin requirements of 50 per cent were applied to short sales of securities. On the same date, lower margin requirements (25 per cent except for loans on securities sold short, which required a 35 per cent margin) were set for special omnibus accounts and special loans to brokers and dealers; these represent borrowings by brokers and dealers on securities from banks or other brokers to finance their customers' transactions. Effective February 5, 1945, such accounts and loans were exempted from margin requirements, and since then margin requirements for short sales have been the same as those prescribed for regular transactions. All changes in margin requirements have been effective as of the opening of business on the dates shown in Table 19 except for changes on February 20, 1953, and January 4, 1955. Those were made effective after the close of business. MARGIN REQUIREMENTS Margin requirements are set in accordance with Regulations T and U, issued by the Board of Governors pursuant to the Securities Exchange Act of 1934. Regulation T applies to brokers and dealers. It limits amounts that can be lent on corporate stocks and bonds that are listed on a national securities exchange and denies loan value entirely to corporate securities that are not so listed. Regulation U applies to banks. It limits lending for purchasing or carrying corporate stocks registered on a national securities exchange. Loans secured by stocks that were not made for this purpose are exempt. So too are loans for purchasing or carrying unlisted stocks and loans on bonds. The regulations limit the amount of credit that may be extended by prescribing a maximum loan value for the security—a specified percentage of the security's market value at the time credit is extended. The margin requirements are the difference between the market value (100 per cent) and the maximum loan value. They indicate the percentage of the purchase price of a security that the buyer must cover with cash at the time of purchase. The Board prescribes an initial margin only; lenders may set up maintenance margins on their own. Members of the N.Y. Stock Exchange are required to abide by a ruling of that Exchange which sets the minimum percentage of equity that a margin customer must maintain as his collateral (a "maintenance" margin), STATISTICAL MEASURES OF CREDIT Table 20 presents monthly data for the major types of security credit extended to customers 18 and for the principal sources of funds of brokers and dealers who are member firms of the N.Y. Stock Exchange carrying margin accounts for the period January 1938 through 1963. Table 21 presents detailed debit and credit balances and related balance sheet items for the same firms for June 30 and December 31, 1942-56, and for June 30, 1958-63. No data were collected in 1957. Table 22 presents monthly data on borrowings for all member firms of the N.Y. Stock Exchange. The data for those firms carrying margin accounts are the same as those in Table 20; they are presented in both places to make comparison with the other data easier. Described below are the two major types of credit—customer and dealer—and technical information on the data used. Customer credit. The series on stock market credit extended to the ultimate customer combines credit extended by brokers and dealers (customers' debit balances) and credit for purchasing and carrying securities extended by banks to others than securities brokers and dealers. Both components exclude credit extended on U.S. Government securities except for periods when these figures were not separately available. Bank loans to brokers and dealers are excluded from the customer credit total because the portion of such loans used by brokers to lend to their customers has already been included in the debit balance data. The remainder represents funds that brokers and dealers use in carrying on their other business. Although the statistical measure of total stock market credit to customers probably reflects the principal changes in the amount of such credit outstanding, it is not complete. (1) Security loans extended by others than brokers, dealers, and banks are not included because no statistical information on such loans is available. (2) The data on bank lending, composed of loans explicitly classified as being for the purpose of purchasing or carrying securities, include only those loans made by weekly reporting member banks. However, scattered benchmark data indicate that these banks account for the bulk of all such lending by commercial banks. (3) The data on customers' debit balances include only credit extended by N.Y. Stock Exchange members, but the amount extended by other brokers is probably very small. On the other hand, total customer credit includes some lending on bonds, particularly during periods when lending on U.S. Government securities can be excluded only in part or not at all. Broker and dealer credit. Brokers and dealers borrow principally to obtain funds to lend to their customers; but they also borrow to finance their own holdings of securities, which they acquire in performing their functions as dealers for their own account and as underwriters of new offerings of securities. This section presents two sets of figures on borrowing by brokers and dealers. Tables 20 and 22 show the amounts of credit outstanding to brokers who are members of the N.Y. Stock Exchange, and who also carry margin accounts, from the two sources for which data are available monthly. These principal sources are banks and customers' net free credit balances left on deposit with brokers and dealers. Borrowing from other sources is legally restricted, and data are shown for less frequent intervals in Table 21. Table 22 shows borrowings by all member firms of the N.Y. Stock Exchange from banks and other lenders, except borrowing from other members of national securities exchanges. And as indicated earlier, it shows amounts borrowed by firms that do not carry margin accounts as well as amounts borrowed by those that do. Only their total borrowings are shown before March 1943, but thereafter the totals are subdivided into borrowings on U.S. Government securities and borrowings on all other securities. Beginning with April 1955, borrowings on other securities by firms carrying margin accounts are broken down further into borrowings on customer collateral and borrowings on other collateral—that is, firm 19 and partner collateral. The data for this table were collected by the Exchange from member firms and are for the last trading day of the month for the period 1941 through May 1955 and for the last Wednesday of the month thereafter. Federal Reserve. Figures for months other than June and December for the period August 1942-February 1945 are estimates prepared by the Federal Reserve on the basis of reports from a small number of large firms. Beginning with March 1945, the data are those reported to the N.Y. Stock Exchange by all member firms carrying margin accounts. Also beginning with March 1945, net debit balances were reported separately for U.S. Government securities and other securities. Data on "money borrowed" through 1940 are those collected by the Federal Reserve; beginning with January 1941, the N.Y. Stock Exchange has collected this information, which is identical with that shown in Table 21 for firms carrying margin accounts as described on page 19. Until 1938, banks reported their loans on securities on a "collateral" rather than on a "purpose" basis. In 1938 the Federal Reserve began to obtain from the banks in its weekly reporting member banks series, figures for bank loans to others than brokers and dealers for purchasing and carrying securities. These figures are shown for the last Wednesday of the month in Table 20. Through 1943, loans on U.S. Government securities are included with loans on other securities, but the two are shown separately for the period 1944-63. The figures for loans on U.S. Government securities are for all weekly reporting member banks for the period 1944-52 and again beginning with July 1959. In the interim (January 1953-June 1959) data on such loans are for New York and Chicago weekly reporting member banks only; at other weekly reporting banks, figures for these loans are included with those for loans on other securities. The level of this series has also been affected by changes that were made in July 1946 and July 1959 in the number of banks covered. Table 21, "Detailed Debit and Credit Balances and Related Items of Member Firms of the N.Y. Stock Exchange Carrying Margin DEFINITIONS AND COVERAGE A "debit balance" arises when a customer borrows from a broker to purchase securities. The purchase price of the security is debited against the customer's account, with the securities held in the account. Cash paid to meet margin requirements of the purchase is credited against the account. The resulting debit balance represents the amount actually loaned to the customer. A "credit balance" represents cash deposits and the proceeds of stock sales or dividends not withdrawn by the customer or used to reduce any outstanding indebtedness. If there are no offsetting liabilities, such as a short sale, this balance could be withdrawn by the customer; hence it is called a "free" credit balance. In tabulating these figures, member firms of the N.Y. Stock Exchange consider the net position of each customer by combining balances if he has more than one account (for example, cash, margin, and commodity accounts) and arrive at separate totals for those customers whose combined accounts net to a debit position and for those in net credit status. Both debit and credit balance totals exclude balances of the firm, its partners, or other firms that are members of a national securities exchange but include the temporary debits and credits associated with cash transactions. Figures for net debit balances and net free credit balances in Table 20 are for the end of the month. For the period 1938-July 1942, and for June and December dates through 1944, they are ledger-account figures for all member firms of the N.Y. Stock Exchange carrying margin accounts, as collected by the 20 "money borrowed" after May 1955 a difference in reporting date, that is, the last Wednesday versus the end of the month. It should be noted, however, that these summary figures do not disclose the "financial condition" of reporting firms. (1) They do not show either the values of securities carried by the reporting firms for customers or the current market values of securities owned by the firms themselves. (2) The amount reported against the item "net balance in capital and profit and loss accounts and partner's drawing accounts" does not represent actual net capital. (3) They do not include such assets as exchange seats. Accounts," summarizes selected balance sheet data reported to the Federal Reserve System in connection with its responsibilities under the Securities Exchange Act of 1934. In addition to data on net debit balances, net free credit balances, and money borrowed, this table presents considerably more detailed information on money balances as shown in the debit and credit entries on the ledgers of these firms as of the end of the specified month. Corresponding items are identical conceptually with those presented in Tables 20 and 22 but differ somewhat because of minor differences in reporting, statistical discrepancies, and for SECURITIES ISSUES Governmental units, corporations, and other organizations obtain new external funds from several sources. They may issue debt securities with either long- or short-term maturities. They may borrow from banks. In still other instances they may sell mortgages, or they may increase their equity base through sale of stocks. Sales of new issues in capital markets are one of their major sources of funds. The tables in this section show the amounts of long-term debt and equity financing. Although they omit sales of short-term bonds and notes, the data are a measure of specific types of demands for funds in the capital markets. Governments sell only debt instruments (bonds, notes, debentures, and so forth)—with a fixed rate of return and a specified date for redemption. Corporations, on the other hand, may sell either debt instruments or stocks. A preferred stock—like a debt instrument— has a fixed rate of return (dividend), but it is junior to debt, and it does not have a specified maturity. Common stock has neither a fixed rate of return nor a specified maturity. Security financing may be measured in terms of gross proceeds, net proceeds, or net changes in outstanding securities. Gross pro- ceeds are derived by multiplying the offering price by the number of units (except for State and local government issues for which principal amounts are used). Net proceeds represent gross proceeds less estimated costs of flotation —that is, underwriting compensation, legal expenses, and so forth. For certain purposes—for example, for analyzing the immediate impact of new offerings on security markets—the gross and net proceeds figures may be more useful. For other purposes—for example, for analyzing longer-run relationships between saving and investment—the figures for net change in securities outstanding may be more appropriate. Data on proceeds (whether gross or net) measure the amount of funds raised by sales of securities in a particular period without taking into consideration redemptions during the same period of securities sold earlier by the same or other corporations or governmental units. Data on net changes in outstanding securities, calculated by deducting from gross new issues the total of all securities redeemed during the same period, are a measure of the net volume of funds raised. The series on issues for new capital provides something more in the nature of an 21 of corporate offerings by type of issue—bonds (both publicly offered and privately placed) and stocks (preferred and common). Privately placed corporate bond issues, which constitute the bulk of privately placed securities, are shown annually for the whole period and monthly beginning with 1952. Definitions of major types of issues follow: intermediate measure, since it is composed of issues sold to obtain new capital (excluding the proceeds of refunding issues) but has not been adjusted to take account of securities redeemed with funds made available in other ways. Tables 23 and 24 present data on gross sales of new securities by governmental units, corporations, and other organizations. Table 25 presents data on net changes in securities outstanding for corporations only. U.S. Government: Direct and guaranteed issues only (excluded, as noted above, are interagency issues and short-term issues such as Treasury bills). U.S. Government agency: Federal agency issues not guaranteed by the U.S. Government (currently, issues of the Federal land banks, Federal intermediate credit banks, banks for cooperatives, Federal home loan banks, Federal National Mortgage Association, and the Tennessee Valley Authority). U.S. State and local government: Issues of all States, territories, and possessions, and their subdivisions. Through 1951, data are as compiled by the Commercial and Financial Chronicle; thereafter, by the Bond Buyer. Other: Issues of foreign governments and their instrumentalities, of international organizations (for example, International Bank for Reconstruction and Development), and of nonprofit institutions. Corporate: Issues of both foreign and domestic corporations sold in the United States. Corporate issues for new capital include net proceeds of all issues except those used for the retirement of securities. Issues for new money represent funds to be used for both purchase of plant and equipment and additions to working capital (these are shown separately in the SEC publications); funds used to repay short-term bank loans that were originally utilized for these purposes are included. Proceeds for other purposes are used to repay term loans from banks, to purchase securities, and for miscellaneous uses. TOTAL NEW SECURITIES ISSUES BY TYPE OF ISSUER The estimates shown in Table 23-A, which are for the period 1934-63, were prepared by the SEC. They cover almost all new security issues offered for cash for the account of the issuer in the United States in amounts over $100,000 and with maturities of over 1 year. They represent offerings, not actual sales. However, the proportion of the total that is not sold is believed to be quite small. The estimates exclude several types of offerings: continuous offerings of employee-purchase plans; issues of open-end and closed-end investment companies; and intercorporate transactions where control is involved; sales of issues that the U.S. Government makes directly to Federal agencies and trust accounts; corporate notes issued exclusively to Federal agencies and trust accounts; corporate notes issued exclusively to commercial banks; and portions of issues known to have been sold outside the United States. Publicly offered issues are included as of the offering date; privately placed securities are included as of the takedown date—when securities are actually issued—regardless of when purchase contracts were made. Privately placed securities are defined as issues sold to a restricted number of investors without being offered to the public and without being required to meet SEC registration formalities. Table 23-A shows totals for 1934-63 of all securities offerings (gross) with a breakdown showing amounts by major groups and amounts CORPORATE ISSUES Net proceeds of corporate security issues are shown for four major industry groups for the period 1934-47 in Table 23-B. Beginning with 1948 a new classification based on the Standard Industrial Classification was adopted. In this classification, shown in Table 24-C, each issuer is included in the industry from which it derives the bulk of its revenue. As a result of the new classification there were some shifts of industries among major groups, and several new major groups were added. Because only the real estate and financial group was unchanged, exact comparison of the new and old 22 "total (new capital and refunding)" and "total amount delivered," except that the latter excludes U.S. Government loans. Issues are included as of the date of sale, except that for "total amount delivered" the date of inclusion is the one on which the issuer receives the proceeds. Figures on classification by type of issue are available only on an annual basis before 1957, but are monthly thereafter. Classifications by type of issuer and by use of proceeds before 1957 relate only to issues of $500,000 or more. For each of these categories, issues of less than that amount are shown in the "other" category. Hence many classifications in earlier years are understated relative to those for later years. Definitions of the groupings follow: groups are not possible. The accompanying tabulation shows the difference in the two methods of classification. INDUSTRY CLASSIFICATION Before 1948 Industrial & miscellaneous Public utilities Railroads Financial & real estate 1948 and after Manufacturing Commercial & other Extractive1 Electric, gas and water Transportation, other than railroads2 Communications3 Railroads Financial & real estate 1 Included with commercial and miscellaneous between 1948 and 1952. 2 Includes aviation, previously included with industrial and miscellaneous. 3 Includes radio, previously included with industrial and miscellaneous. General obligations: Bonds secured by the full faith, credit, and taxing power of the issuer. Revenue bonds: Obligations secured solely by some specific revenue source of the issuer, such as revenue from utilities, from tolls collected by toll authorities, from rental payments of public building authorities, or from all or part of the revenue from a specified tax or taxes. Public Housing Authority bonds: Bonds sold by local housing authorities pursuant to the Housing Act of 1949, secured by contracts with the Federal Public Housing Administration for annual contributions. U.S. Government loans: Bonds sold to the Housing and Home Finance Agency and loans made under miscellaneous programs. 20 Special district and statutory authority: Securities of all special purpose units including some, such as State toll road authorities, which are included under "States" in some governmental classifications. Other (under type of issuer): Securities of municipalities, counties, townships, towns, and school districts, and before 1957, all small offerings regardless of type of issuer. Education: Issues for higher educational facilities as well as for construction of primary and secondary schools. Road and bridges: Issues sold for both toll and free facilities. Utilities: Issues for electric light and power systems, sewer and sewage disposal systems, transit systems, and port and airport facilities. NEW STATE AND LOCAL GOVERNMENT ISSUES Table 24 presents data on gross sales of longterm State and local government bonds by type of issue and type of issuer and shows issues for new capital classified by use of proceeds for the period 1946-63.18 Data for 1946-56 were compiled by the Federal Reserve from information published in the Bond Buyer; beginning with 1957, the figures are compilations of the Investment Bankers Association of America.19 Data represent principal (par) amount of bonds, warrants, and certificates sold by States, territories, and insular possessions of the United States and by their subdivisions. In addition to offerings to the general public, securities sold to other State and local government units and to the U.S. Government are included when reported. Coverage is the same for the 18 Long-term securities are those with an original maturity of more than 1 year except that revenue anticipation notes with maturities of more than 1 year are excluded. 19 Total new issues (new capital and refunding) shown in Table 24 for the period 1952-56 are identical, except for rounding, with the total for U.S. State and local issues shown in Table 23. For other periods, these totals differ slightly primarily because of statistical discrepancies in series compiled by different organizations. 20 Federal loan data are not available separately before 1952, although small amounts are probably included in other categories. Beginning with 1957, the coverage of such loans is considerably broader, although still incomplete. 23 Additional adjustments are made in the series on gross proceeds from new offerings as follows: Housing: Issues for construction of residential housing units and for urban redevelopment. Veterans' aid: Issues for payment of bonuses for loan programs for veterans. Other: Issues for health and welfare, recreation, flood control, administrative and office buildings, industrial buildings for lease to private corporations, and so forth, as well as multipurpose issues, and, before 1957, small unclassified issues. Except for veterans' aid and refunding issues, proceeds of most of the issues are used primarily to finance construction, including land acquisition, of facilities to provide the type service indicated by the classification.2 * Amounts added: (1) Sales to the general public of securities held by affiliated companies or by U.S. Government agencies. (2) Private sales of securities to foreigners. (3) Sales to employees. Deductions: (1) Security sales of foreign companies. The net change series is for domestic companies only, while the new issue series is for issues sold in the United States, whether domestic or foreign. (2) Estimates of securities offered but not sold. (3) Any additional cash received in connection with conversions. (4) Sales of securities to other corporations. Other: Proceeds are converted to a delivery-date basis (that is, the date the issuer receives the funds) from an offering-date basis for all public offerings (private placements are already included on a delivery-date basis). NET CHANGE IN CORPORATE SECURITIES OUTSTANDING Table 25 presents SEC estimates of the net change in domestic corporate securities outstanding annually for 1934-63 and quarterly for 1948-63. Type of issue or issuer. The net change is broken down by type of security (that is, debt and stock—common and preferred) in Table 25-A and by industry of issuer in Table 25-B for the years 1948 on. Definitions of these classifications are the same as those described in connection with Table 23 except as noted below. Method of derivation. Figures for net changes are derived by deducting estimated repayments by corporations for securities redeemed (retired) from estimated gross proceeds (as shown in Table 23) received by corporations from sales of securities in the same period, after making certain adjustments. Deductions are made for retirement of securities of the type covered regardless of the source of funds used for this purpose—that is, whether from sale of new securities, from bank loans, from internal funds, and so forth. Adjustments are made between stocks and bonds outstanding when one type of security is exchanged for the other as a result of conversion, recapitalization, mergers, and so forth. Beginning with 1948, data are shown for net changes in outstanding securities of investment companies. In the table showing net change by type of issue, these data are shown separately as well as in the total for all securities and in the breakdown by type of issuer they are included with the real estate and financial group. These statistics on investment companies represent all types of companies including open-end mutual funds, closed-end companies, face-amount-certificate companies, and certain unit plans. Excluded are certificates issued under contractual plans for investment in shares of open-end mutual funds on an instalment basis, because the amounts of such underlying shares issued are covered in the statistics of open-end mutual fund sales. Initial issuance of shares by "tax free exchange" funds are excluded from the figures. Sales of issues include estimated sales load and distributions of capital gains that are reinvested. The SEC indicates that these data are not all inclusive, but it believes that omissions of new issues and retirements are small in relation to total volume covered, particularly in the postwar period. 21 The Investment Bankers Association publishes additional detail for some of these categories. 24 INSTITUTIONAL INVESTORS Financial institutions other than commercial banks perform an important role in credit and capital markets by mobilizing the savings of individuals and channeling these funds among various types of investments. As a result, the flow of savings to these institutions and the allocation of these funds to various investments are important determinants of interest rates and prices of securities. Tables 26-28 present selected balance sheet data for three major types of financial institutions—mutual savings banks, savings and loan associations, and life insurance companies. These were selected for presentation from among the various types of intermediaries both because of their importance in the capital markets and because of the availability of reliable data on a monthly basis for a considerable number of years. Tables 29 and 30 show data on assets of pension funds, supplied by the Securities and Exchange Commission. restrictions vary somewhat among States, the following major types of investment are generally permitted: U.S. Government securities. Federal agency securities (not guaranteed). Securities of State and local governments in the United States, provided the issuer meets certain requirements relating to geographic location, population, debt/assessed value ratio, earnings, and so forth. Securities of Canadian Government and of international organizations payable in U.S. funds that meet specified requirements. Corporate bonds, limited generally to those of investment grade and/or of issuers that meet specified requirements relating to size, earnings, debt service coverage, and so forth. Corporate stocks, provided the issuer meets the specified financial requirements. Generally there is a limit on aggregate holdings of stocks, and this limit is usually a relatively small proportion of deposits or of surplus. Mortgage loans (generally first liens only) with some restrictions relating to the geographic location of the borrower, except for loans underwritten by the U.S. Government. Types of assets and liabilities shown. The following paragraphs describe the principal assets and liability categories shown. More detailed breakdowns of some items are available from the compiling organization. MUTUAL SAVINGS BANKS Table 26 presents data compiled by the National Association of Mutual Savings Banks on the assets and liabilities of all mutual savings banks in the United States; the figures are for end-of-year, 1945-63, and end-of-month, 1947-63. Mutual savings banks are mutual thrift institutions chartered by individual States, primarily those in the northeastern part of the United States. They have no capital stock or stockholders. Incorporators provide initial guaranty and expense funds, and under stated conditions these funds may be returned to them out of subsequent earnings. Most deposits in mutual savings banks take the form of passbook savings. After expenses of operations are paid, all earnings are either distributed as interest to depositors or added to reserves (surplus). Types of investment permitted. Investments of mutual savings banks are subject to limitations imposed by the State of charter. Although Loans are net of valuation reserves. Mortgage loans: Those secured by a mortgage on real property, including loans guaranteed by the Veterans Administration or insured by the Federal Housing Administration, as well as conventional loans. Other loans: Primarily instalment loans to individuals for residential repair and modernization and instalment and singlepayment loans to individuals for personal expenditures in some States. U.S. Government securities: Direct and guaranteed obligations. State and local government securities: Obligations of U.S. States and their political subdivisions. Corporate and other securities: Corporate debt and equity obligations, certain obligations of the Canadian Government and its subdivisions and of the International Bank for Reconstruction and Development and Federal agency issues not guaranteed by the U.S. Government. Cash assets: Vault cash, balances with other banks, and cash items in the process of collection. Other assets: Real estate, including bank premises, and furniture and fixtures. Deposits: Represents primarily passbook savings deposits, but also includes small amounts of other time 25 deposits and of demand deposits in the few States permitting savings banks to offer such deposits. Deposits may also be classified in a slightly different manner. For example, in the reports of the National Association of Mutual Savings Banks, the bulk of accounts are classified as regular accounts, but there are also special accounts consisting primarily of Christmas and other club, industrial payroll, and school savings accounts. holders of shares are owners rather than creditors, as* are depositors in banks. The remaining 771 State-chartered associations had some form of permanent stock ownership. These associations were located primarily in four States—California, Texas, Ohio, and Illinois. Investments of associations are subject to restrictions imposed by the chartering government. In general, Federally chartered associations, which in recent years have held somewhat more than half of the assets of all associations, may invest in U.S. Government obligations, securities of the Federal home loan banks and the Federal National Mortgage Association, loans secured by the share accounts of association members, and first mortgage loans on real estate. Collateral for the latter must be geographically located within the association's regular lending area (generally within 50 miles of its home office prior to 1964, 100 miles thereafter), except that this restriction is relaxed when the mortgage loan is Federally underwritten. Federal associations have no general authority to purchase corporate securities or to make consumer or business loans not secured by real estate. With the Housing Act of 1964, however, their authority was broadened to permit investment in (1) general obligation bonds of State and local governments, (2) participation or other instruments of, or fully guaranteed by, the Federal National Mortgage Association or any U.S. agency, and (3) loans to college students for their education. State-chartered associations are subject to limitations that are similar, but generally less restrictive, than those imposed on Federally chartered associations. In some instances they have authority to invest in corporate and in State and local government bonds, and the geographic area where they may lend is larger. Types of assets and liabilities shown. The following paragraphs describe the asset and liability categories shown. Monthly data for other loans, cash assets, other assets, other liabilities, general reserve accounts, and total assets and liabilities are not available until June 1947. In addition, monthly figures on holdings of State and local government securities and of corporate and other securities are not available separately until December 1951. General Reserve accounts and other liabilities are also combined for the period July-November 1947. The data shown were compiled from reports submitted to the National Association of Mutual Savings Banks. They may differ slightly from other published data compiled on the basis of reports filed with Federal and State bank supervisory agencies on a less frequent basis. SAVINGS AND LOAN ASSOCIATIONS Table 27 presents estimates prepared by the Federal Savings and Loan Insurance Corporation on the assets and liabilities of all savings and loan associations in the United States. The figures are end-of-year 1945-63, end-of-quarter 1950-54, and end-of-month 1955-63. Types of associations. Savings and loan associations—also known as cooperative banks, building and loan associations, and savings associations—are thrift associations chartered by individual States or by the U.S. Government. Of the 6,248 associations in operation at the end of 1963, 4,419 were insured by the FSLIC; 1,968 were Federally chartered (all insured by FSLIC) and 4,280 were Statechartered. All of the Federally chartered associations and 3,509 of the State chartered were mutually owned. Such associations accept deposits in the form of share capital. These are legally considered shares in the association, and 26 Types of companies and investments. Life regulations of other States in which they are licensed to do business. Although these regulations vary, insurance companies are generally authorized to hold a wide variety of investments provided the investments meet specified quality standards and provided the companies stay within certain restrictions as to the aggregate invested in certain types of securities. The most significant change in recent years in regulations governing life insurance company investments has concerned common stocks. For many years companies doing business in New York State had been prohibited from owning common stocks, but during the period since 1951 this regulation has been liberalized. The result is that by early 1963 life insurance companies were permitted to own common stock up to 5 per cent of their assets or 50 per cent of their surplus. The values shown in Table 28 for end-ofyear dates are in accordance with State regulations for annual statements, with investmentgrade bonds valued at amortized cost, and stocks and unamortizable bonds valued at endof-year market value. Monthly figures are based on book value of ledger assets, with adjustments for interest due and accrued and for differences between market and book values generally included in the figures for total assets and for other assets. Types of investments shown. The following paragraphs describe the asset classifications shown; in most instances the Institute of Life Insurance publishes breakdowns of the categories shown in the table. insurance companies are chartered by individual States. They may be mutual—the more important group in terms of assets—or capital stock companies. Legal reserve companies are those operating under State insurance laws specifying a minimum basis for the reserves that a company must maintain on policies in force. Life insurance company investments are governed by the laws and regulations of the State that charters the company and also by the U.S. Government securities: Direct and guaranteed obligations. State and local government securities: Obligations of U.S. States and their subdivisions. Foreign government securities: Securities of foreign central governments and their subdivisions, as well as securities of international organizations. Business securities: Bonds: Long-term bonds, notes, and debentures of both domestic and foreign corporations, short-term commercial and finance company paper, and securities of U.S. Government agencies not guaranteed by the U.S. Government. Stocks: Common and preferred stocks of both domestic and foreign corporations. Mortgages: All first mortgage loans on real property; before 1958; mortgages are shown net of mortgage pledged shares, and asset items will not add to total assets and liabilities because the latter are shown gross—that is, without deduction for pledged shares. Beginning with January 1958, both mortgage loans and total assets are shown on a gross basis. U.S. Government securities: Direct and guaranteed obligations. Cash: Vault cash and bank deposits, including deposits with Federal home loan banks. Other assets: Nonmortgage loans, obligations of Federal home loan banks and of the Federal National Mortgage Association, real estate owned and sold on contract, furniture and fixtures, and any corporate or State and local government securities held by State-chartered associations. Borrowed money: Advances from Federal home loan banks, loans from commercial banks, and any other borrowed funds. Loans in process: Undisbursed portions of closed loans included in assets. Before 1950, data for most items are estimated on the basis of annual reports only. Beginning with 1950, data are estimated on the basis of monthly reports from insured associations and of annual reports from noninsured associations. Data on reserves and undivided profits, loans in process, and other liabilities are not available separately for most months before 1959. LIFE INSURANCE COMPANIES Table 28 presents estimates prepared by the Institute of Life Insurance for assets of all U.S. legal reserve life insurance companies. Statement-value figures are shown for end-of-year dates 1945-63, and book-value figures for endof-month dates beginning with 1947. 27 of corporate bonds, and, starting in 1962, net sellers of municipal obligations. For the most part these funds are still prohibited from purchasing corporate stocks, and at the end of 1963 their mortgage holdings were still small. Corporate pension funds. Generally speaking, pension benefits for employees of most small firms are acquired through the purchase of insurance contracts either for each employee separately or through a blanket contract for all employees combined. These reserves are commingled with the other reserves of life insurance companies; the investment holdings of these companies are shown in Table 28. The funds of most large corporations, however, are usually not insured, and responsibility for making over-all investment decisions rests with trustees. Usually the trustees of these funds are appointed in equal number by management and union, but in some cases all trustees are appointed by either management or union. Over the years the investment policies of these funds have shifted. Initially their reserves were invested primarily in U.S. Government and high-grade corporate bonds acquired in the public market. But in recent years most funds have become very important purchasers of common stocks. Now they rank second only to investment companies as holders of such securities—and their current rate of growth in such holdings is larger than that of investment companies. On the other hand, there are still a few funds that do not permit investments in common stocks. Another important recent development is the acquisition of corporate debt issues directly from the issuer. Since the beginning of 1955, the Securities and Exchange Commission has collected annual data on the investments of noninsured corporate pension funds. Figures on a marketvalue basis begin with 1955, but those on a book-value basis (usually cost of acquisitions) cover the period beginning with 1951. Both of these series are shown in Table 30 for the years through 1963. Mortgage loans: All loans—both Governmentunderwritten and conventional—secured by real property. Policy loans: Loans to policy holders secured by the cash-surrender value of insurance policies. Real estate: Both company-used and investment properties. Other assets: Cash and bank deposits, due and deferred premiums, equipment leasebacks, collateral loans, accounts receivable, and, for the monthly figures, adjustments for interest due and accrued and for changes in the market value of investments. PENSION FUNDS Although some employers set up funds in the early part of this century into which they made contributions for retirement pensions for their employees, the sharp growth in pension fund reserves has been a post-World War II phenomenon. There are two broad types of pension funds: public—those trust funds established by Federal legislation with the U.S. Government as a trustee, and funds established by State and local governments; and private— largely for employees of private corporations. Public pension funds. Most of the public pension fund systems administered by the Federal government grew out of legislation enacted during the early 1930's. Contributions to these funds are made by both employer and employee. Coverage as well as benefits of these Federally administered funds have been broadened over the years, and at the present time almost all working adults are covered by one of the programs. All reserves of these public pension funds are invested in U.S. Government securities. Although most employees of State and local governments are now covered under Federal Old Age and Survivors Insurance, many are also covered by funds set up by these governmental units. (See Table 29, page 182.) Until the late 1950's the reserves of most of these funds were invested largely in Federal and State and local government securities. But since then regulations governing their investments have been extensively liberalized in most States, and they have become very important buyers 28 KEY TO SYMBOLS USED IN TABLES Zero; Amounts insignificant in terms of the particular unit (e.g. less than 500,000 when the unit is millions); or No figure to be expected (e.g. one or more series in a table may start at a later date than others shown). Minus signs are used to indicate a decrease. 29 1. FEDERAL RESERVE BANK DISCOUNT RATES ON LOANS TO MEMBER BANKS A. ADVANCES AND DISCOUNTS UNDER SECTIONS 13 AND 13a, 1941-63 [Per cent per annum. Figures in parentheses indicate day of month new rate became effective] Year and month Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis 1941—In effect Jan. 1. Kansas City Dallas 1*4 1942—Feb.. Mar.. Apr.. (21) (14) 1 (21) 1 San Francisco 1*4 (28) 1 (14) 1 (ID (28) 1 (11) 1 (21) (4) 1 1950—Aug.. :i4) 1 ^ ( 1 2 ) 11/4(12) (12) 114 12) (12) 4 (19) l J 4 d 2 ) (12) WA (12) (15) 114 " :i3) 1% (13) 1%(23) 1V4O3) 1V4 (13) 19) (13) 1V4 (13) lii (13) P/4 (16) 1V4 (13) 2D 1*4(21) 1*4(25) 1*4 (25) 1*4 (25) 1*4 (24) 1*4(25) 1*4 (23) 1*4(22) 1*4(25) 1*4(25) 1*4 (24) 1*4 1953_jan.. 20) (16) 2 (16) 2 1954—Feb.. Apr.. May. (5) (5) H (16) 11/ (5) 1 1955—Apr.. May. Aug.. Sept.. Nov.. 15) 1%(15) 1*4(22) 1*4 (15) 1*4 (15) 1*4 1948—Jan.., Aug.. 1956—Apr.., Aug.. 1957—Aug.. Nov.. Dec... 1958_Jan... Feb.., Mar.. Apr... May.. Aug.. Sept.. Oct... Nov.. 1959—Mar.. May. June., Sept.. (4) 2 13) 22) (5) 2 (21) (5) 2 (9) 214 (2) (18) 2 i 4 (18) 2*4(13) 2*4 " (24) 3 31/4(23) 31/2 " (15) 3 (23) 2 28) 2*4 (24) 2*4 (16) (16) 2 (16) 2 (5) (23) (5) (29) (12) 1*4(15) 1*4 (5) 1*4 4 ( ) (23) 1 ^ ( 2 3 ) (16) li/4 (22) 1*4(15) 1*4 05) 1*4(14) 1*4(15) 1*4 (22) 1*4 (2) 1*4 (4) 2 (4) 2 (8) 2 (6) 2 (5) 2 (5) 2 (26) 214 (30) 214 (12) 214 (9) "214 (9)"'214 (9) 214 (9) ' 214 17\ 21^(18) 21,4(18) 2 ^ ( 2 2 ) 2% (21) 2" (21) 2% (23) 2 % 18) 2i/ 2 (18) 21/4(22) TLA (21) 2% (4) 214 (12) 2 (6) 3 •11) 4 ' 1963—July 17) 31/4 17) 12) 3 (13) 3 (5) 2 (12) 2 (5) 2 31) 21/2 (24) 21/4 (24) 21/2 (29) 2 (4) 16) 3 (14) 2*4 (14) 214 13) 214 (9) 1*4 (1) 1*4 15) 2 22) 2 24) 21/2 (6) 21/2 12) 3 (6) 3 29) 31/2 11) 314 11) 4 11) 4 (17) 31/2 17) 31/2 24) 31/2 19) 31/4 17) 31/4 17) 31/2 26) 17) 31/2 19) 31/2 19) 31/2 (13) 3 (24) (7) 2*4 (7) 21/ (14) 21/ (21) 214 (14) (18) 1*/ (18) 1*/ (18) 1*4 (25) (6) 3 (13) 3 (16) 3 (13) 29) 31/4 (29) 31/4 (29) 31/4 31/2(12) 12) 31/2 (2) 31/2 (5) 11) 4 11) 4 (14) 4 (11) D • ( (II D 4 11) 4 14) 4 3 31/4 (10) 31/2 10) 31/2 13) 31/2 10) 31/2 10) 31 10) 31/4 (10) 19) 3 3 (12) 3 15) 3 (12) 12) 3 16) 3 19) 3 (6) 3 (2) 31/4 29) 31/4 (5) 18) 14) 4 31/4 (13) 2*4 (13) 2*4 13) 3 (28) 3 (31) 2*4 (24) 2*4 (24) 2*4 (28) 2*4 (24) 2*4 (24) 2*4 :ii) 214 (7) 2 . . (7) 214 (14) 21/ (14) 214 10) 214 22) 134 (18) 1*4 18) 1*4 (25) 1*/ (25) 1*4 22) 1*4 26) 2 2 (12) 2 (12) 2 12) 2 ;23) 2 21/4(30) 21/4 (24) 21/4 (4) 2i/ 2 (7) 21/4 10) 3 (23) 2 (20) 2 (16) (19) 31/4(13) 31/2 (9) 31/4(21) 31/4 (9) 3V4 (9) 31/4 (13) 31/4 15) 31/4 (9) 31/4(23) 31/4(19) 31/ (22) " (29) 3 (15) 3 (15) 3 (29) " (15) 3 (22) 3 (22) (15) 3 29) 3 (2) 3 .14) 31/4 (3) 10) 31/4 19) :23) 3 31/2 31/4 31/4 NOTE.—A rate of 1 per cent on advances secured by U.S. Government securities was in effect Jan. 1, 1941, at the Federal Reserve Banks of Atlanta, Chicago, St. Louis, Kansas City, and Dallas, and continued until the regular discount rate was reduced to 1 per cent in February, March, or April, 1942. A rate of i/4 of 1 per cent on advances secured by U.S. Government securities maturing or callable in 1 year or less was in effect at all Federal (16) 2 (15) 1* (12) 1*4 (9) 1*4 (11) (14) (23) 11/ (15) (15) (13) 2*4 (13) 2*4(13) 2*4(13) 2*4 (20) 2*4 (13) 2*4 (13) 3 . . - • • " —" (24) 3 ( 2 7 ) 3 (24) 3 (28) 3 (24) 3 (28) 3 I960—June. Aug.. Sept.. 1963—In effect Dec. 31. (16) 2 31/4 31/2 31/4 10) 31,4 (3) 314 (9) 3 (2) 3 31/2 Reserve Banks from various dates in October 1942 t o various dates in April and M a y 1946, as follows: Established—Oct. 15, 1942, Atlanta; Oct. 17, Philadelphia, Chicago, Dallas; Oct. 27, Boston, Cleveland, St. Louis, Kansas City; Oct. 28, Richmond, San Francisco; Oct. 30, N e w York, Minneapolis. Eliminated—Apr. 25, 1946, N e w York, Philadelphia, San Francisco; Apr. 26, Chicago, St. Louis, Minneapolis; Apr. 27, Boston, Kansas City; May 3, Cleveland; M a y 10, Richmond, Atlanta, Dallas. 31 1. FEDERAL RESERVE BANK DISCOUNT RATES ON LOANS TO MEMBER BANKS — Continued B. ADVANCES UNDER SECTION 10(b), 1941-63 [Per cent per annum. Figures in parentheses indicate day of^month new rate became effective] Year and month Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco 1941—In effect Jan. 1. 1942—Mar.. Aug.. Sept.. Oct.. (27) P/ 2 (30) 1948—Jan.. Aug.. (14) (13) iy 2 (17) (14) (29) (12) (28) 1 ^ (15) li/ 2 (30) 1950—Aug.. 1953—Jan.. (20) 2i/ 2 (16) 21/2 (16) 2Vi(16) 2 ^ ( 2 3 ) 1954_Feb.. (5) 214 (5) (27) 2 (16) ^y! Sept.. 214 2 (5) 214(15) 214(12) 214 (9) (23) (21) 2 2 (15) (15) 214 (15) 214 (22) 214 (15) 214 (15) (4) 21/2 (5) 21/2 (5) 21/2 (4) 234 (12) (13) (22) 234 (9) 3 (18) 234 (2) 3 (18) 234 1956—Apr.. Aug.. (13) (28) 314 (13). 314 13) 31/2 (24) 3% !24) 1957_Aug.. Nov.. Dec. (13) (19) 4 (23) 31/2 (15) 1958—Jan.. . Feb... Mar.. Apr... May.. Aug.. Sept.. Oct.. . Nov.. (28) 314 (24) 314 (22) 314 (24) (11) (22) 234 (7) 214 (18) 234 (7) 214 (18) 234 (14) 214 (25) (23) 2 ^ (12) (4) *3" (7) 1959_Mar.. May. June. Sept.. (10) 31/2 (6) (29) )"4 ' I960—June. Aug.. Sept.. (14) (23) 1963—July (17) 2 (15) 214 (11) 134 (19) (13) 2 (22) 21^(16) 21/2 (5) (29) 2 214 2 (11) 4 (10) 31/2 (12) (17) (18) 3 (9) (22) 214 (15) 214 (15) (2) 214 2% (4) 21/2 (4) (26) 234 234 (9) (18) 3 (18) 3 2% (8) (30) 234 3 (22) (6) 15) [29) 4 31/2 314 (24) 314 (28) 314 (24) 314 (24) 314 234 (14) 214 (25) 234 (10) 214 (22) (7) (18) (10) (12) 4 4 (19) 21/2 (9) 4 (13) 4 31/2 (22) 31/2 (2) 4 (9) 31/2(22) (10) (12) 21/2 (5) 31/2 (21) 31/2(15) (12) (11) 214 2% (5) 13) 4 (9) 31/2 (29) (12) (11) 214 (15) 2% (5) 314 (13) 31/2 (28) 4 (13) 31/2 (15) (5) 4V4 (18) 4 (3) 31/2 (19) 214 2 31/2 (13) (31) 4 (19) 31/2 (15) 3% (16) 214 (5) 2 (16) (23) (13) (23) (9) 4 31/2 (22) 3% (29) 31/2 (13) (12) 214 (15) 234 3 31/2 3i/ 2 (13) 21/2 (9) 18) 314 (13) . . 31/2(28) 3% (6) 4 214 (16) 21/2(23) 21/2 (20) 234 (9) 3 (23) 314 (20) 3% (24) (26) 2% 21/2 (5) 3 (28) ' 3 " (31) (16) (25) 214(25) 214 (24) (9) (21) 314 (13) 31/2 (28) (12) (24) .... (24) (14) ' 2 % (21) (18) 214(18) (14) 214 (25) (29) 21/2 (12) 3 (24) 4 AVt 4 VA 4 4 (17) 4 (17) 31/2(13) 4 (29) 4 (2) 4i/2 (14) 4 (13) 31/2 (16) 4 (10) 3% (19) 4 (10) 3% (19) 4 4 4 4 4 32 (24) 4 (19) 314 (14) 234 (14) 214 (9) 2% (22) 21/2 (5) 3 (24) (24) (4) 3% (6) (29) 4 41/2 (11) 31/2 (16) 4 (29) 234 214 21/2 3 (6) 3 3% (6) 12) 31/2 4 4i 01) 11) 11) 4 AVi (3) 4 AVt (11) 41/2 (14) (10) (15) 4 (10) 314 (12) (10) (17) 4 (26) (17) 31/2 13) 214 (1) 2% 15) 3 3% (13) 4 (5) AVi (11) (17) lfc 234 314 (13) 31/2 (24) 2% (12) (30) 3 (28) d ) 134 (15) 134 (13) 2 13) 2 (12) (21) 314 (13) 31/2 (27) 2% (19) (24) 3 11/2(17) 214 2 (22) 214 214 (16) 214 (5) (23) (13) 1955—Apr... May. Aug.. Sept.. Nov.. 1963—In effect Dec. 31. 21/2(16) 21/2 (16) 11/2 (27) (12) 134(12) 134(12) 134(12) 134 (12) 134 (12) 1*4 (12) (13) 2 (23) 2 (13) 2 (13) 2 (13) 2 (19) (21) 214(21) 214(25) 214 (25) 214 (25) 214 (24) 214 (25) 214 (23) (29) (9) (2) 3% 19) 4 4 2. FEDERAL RESERVE BANK DISCOUNT RATES ON ADVANCES TO OTHERS THAN MEMBER BANKS SECURED BY DIRECT SECURITIES OF THE UNITED STATES (Last Paragraph of Section 13) A. INDIVIDUALS, PARTNERSHIPS, OR CORPORATIONS OTHER T H A N MEMBER BANKS, 1933-63 [Per cent per annum. Figures in parentheses indicate day of month new rate became effective] Year and month 1933 1934 New York Boston Mar Apr.. Oct Philadelphia (23) 4i/2 (13) 41/2 (13) (2) 4 (20) 4 Feb Mar (8) 4ft Cleveland Richmond Atlanta Chicago St. Louis (14) 4i/2 (16) 41/2 (13) 4ft (14) 4i/2 (15) 4ft (15) (20) 4 (16) 4 (21) 4 Dallas (23) 41/2 (16) (11) (16) 4ft (23) 4 (12) 4 (10) 3i/2 (23) 2ft (1) (27) 2 (30) 2ft 3ft (16) 21/2 (16) (8) 1939—Sept 2ft 3 2ft (17) 2 (27) 2 (28) 2ft (15) 2 (17) 2 (14) 3 (27) 2 1946—Mar (30) 2ft (28) 2ft (20) 3 (9) (18) (17) 2 (27) 2 VA (23) 2 1948—Jan (14) 2ft (24) (23) Aug 2ft (16) 23/4 2ft 2ft 3 (5) 1955—Apr (15) 3 (22) (13) (22) (9) 3 (16) 234 (23) 3 (15) (14) 3 (5) 314 (5) (9) 3Vi 314 3i/2 3% 314 (22) 3 . 314 (18) (18) (13) (28) 4 4 (13) (24) (13) 3ft 31/2 (22) (27) 4 (24) 31/2 (18) 4 Mar Apr May Aug Sept Oct Nov . (23) 414 (9) 4 (15) 3*4 3VA (24) 31/2 (24) 4 (11) . . 4ft (28) 1958—Jan 314 (7) 31/4 (10) (25) 2*4 (22) (18) (12) (4) 4 1959—Mar (10) 3ft (23) 41/2 (19) 41/2 (13) 414 (29) 31/2 (25) 3ft (12) (30) (7) 4 (12) (24) 2* 4ft 3 3 I* (28) (29) (14) June Aug (14) 414 (10) (23) 4 July (17) (ID 4ft 5 4ft (5) (18) (19) 4ft 4ft (12) 41/2 (11) (11) 5 I* (13) (28) I* (13) 414 (13) (31) I* (13) 334 (13) 4 (28) 4 (9) 41/2 (21) 41/2 (9) 4i/2 (9) 41/2 (13) (22) 4 (15) 4 (24) 4 (24) 3VA (7) (14) (21) (18) 2VA 3ft (14) (29) 314 (12) (24) 4ft 3 3ft (5) (24) 3J4 (16) 5 (13) 334 334 (1) (15) 31/2 334 (28) (4) 4 5 5 5 1963—In eftect Dec. 31 (17) 4ft 4Vi 5 4ft (11) 4ft 5 (19) (14) (ID 5 (17) 41/2 (24) 5 (17) 41/2 5 5 5 41/2 (6) 4 (12) (10) 41/-, (10) 414 (10) 4 U (10) (19) 4 (15) 4 (12) 4 (11) (15) 41/2 3Vi (14) 4 (11) 5 (ID (3) (9) 4ft 4ft 4ft (16) 41/2 (13) 4i/2 (6) 4i/2 (13) 4 (29) A\/ 4V2 (14) (10) (12) 41/2 (12) 4 (20) (24) 31/2 (22) 3* (13) 41/2 June Sept 5 (28) 4 (26) (19) 4 31/2 (18) (13) (28) 4 (13) (19) 1957—Aug. Nov 2ft 31/2 . Sept Nov (14) 2VA (26) 3 3 234 3 (19) 2i/l (23) (18) (17) 1954—Feb (12) 21/2 (15) (24) 2VA (23) (16) (9) (16) 3 2ft (13) 2VA (20) (20) (12) (12) (13) (25) 1950—Aue 1953—Jan.. May July Aug 1963 4ft San Francisco (19) 4 (17) 4 (29) 21/2 1942—Mar Oct i960 Kansas City (23) 4 1938—Apr Oct 1956—Apr Aug. 4ft (19) 4 3i/2 1935—Feb May AUK. Minneapolis 4ft 5 Aft AIX, 4V2 (26) 41/2 4 4ft 41/2 4ft B. SPECIAL RATES T O N O N M E M B E R BANKS, 1939-46 [Per cent per annum. Figures in parentheses indicate day of month new rate became effective] Year and month 1939 Aug.. . . Sept Boston f New York Cleveland 1 (1) (1) \ft (1) Ift (25) 1 j (1) 1 1942—Mar Apr.. 1946_Mar.2 Apr.2 Philadelphia lft Richmond Chicago (1) lft (1) 1 (16) 1 St. Louis (1) 1ft (16) 1 (14) 1 (21) 1 Minneapolis (1) Kansas City 1ft (1) (16) lft 1 Dallas (29) (23) (9) San Francisco (1) lft (1) Wz (16) 1 (28) 1 (4) (11) 1 (16) (16) (16) (6)...!. (16) (23) 2 33 Rate eliminated, 1 (16) (13).. . 1 A special rate (2ft per cent) to lenders other than t a n k s was in effect until Apr. 10, 1942, when it was eliminated. Atlanta (25).'.'.!! 3. FEDERAL RESERVE BANK RATES ON INDUSTRIAL LOANS AND COMMITMENTS, 1941-59 [Per cent per annum] New York Boston Effective date Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco 4-6 4-6 Rates to industrial or commercial businesses 3%-6 1941—In effect Jan. 1 4-6 3%-6 1942—Mar. 21 May 8 June 29 6 4-6 2% 5 2%-5 ... 2% 5 1955 Sept 2%-5 4-6 214 5 2%-5 2% 5 2%-5 2%-5 3-5 16 20 23 26 3-5% 3-5% 2% 5 2*4 5 3-5% 3-5% 3-5% 3% 5% 9 3-5% 1956 Apr 13 20 Aug 24 3 3 4-5% 27 1957 May 27 June 5 17 AUK 9 3-5% - 3% 5% 4-5% 28 31 3*4-5% 3% 5% 4-6 3%-6 3%-6 3*4-6 4-6 3-5% 4-6 2*A 5lA 2% 5 4-6 4-6 3%-5% 3% 6 3%-6 4-6 4-6 3*4-5% ... 4-6 3%-6 4-6 19 21 23 Nov 15 3%-5% 2%-6 n::.: 15 1958 Jan 24 28 Mar 14 Apr 22 Aug 26 Sept 12 19 Oct 28 3-6 2V> 5 1948—Aug. 19 1953 Jan 3%-5% 2%-5 3-6 2%-5 16 20 23 4-6 3%-5 4-6 3% 5% 1959 Mar 16 May 29 June 2 12 4-6 4%-6 4%-6 4%-6 Rates to financing institutions on discounts or purchases—on portion for which financing institution is obligated 3 1941—In effect Jan. 1 Feb 1 Sept 27 1942 Mar 2 1 . . May 8 16 23 29 June 6 2-3 >2* 3 (*) 14 1 3-6 l'A-2 12 (4) (4) 1-1% (4) 4 () 2% 5 (4) 1948 Jan. 12 23 Aug 13 19 \yA \yA (4) 1% 2 \yA 2*A 1950 Aug 23 1953 Jan 16 2-2% 5 \yA 214 1955 Nov 22 2% 3 Feb 1956 Apr 13 20 Aug 28 3-5% 1957 Aug 9 21 Nov 15 3%-6 1958—Jan. 24 For notes see following page. 14 14 3-4 34 (4) (4) (4) (4) 1 5 1947 Nov 24 1954 1 3-6 i 1% 2 3-3% 3%-4 3-3% 3. FEDERAL RESERVE BANK RATES ON INDUSTRIAL LOANS AND COMMITMENTS, 1941-59 — Continued [Per cent per annum] Effective date Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas San Francisco 14-6 Kansas City 4-5 Rates to financing institutions on discounts or purchases—on remaining portion (i.e., for which financing institution is not obligated) 1941 In effect Jan. 1 Feb 1 3i/i 12-5 (6) 14-6 (7) 13-6 (6) (6) 1942 Mav 16 23 29 ( ) June 6 14 (6) (6) 6 13-6 (6) (6) 2Vi 5 (6) (6) 1 5 1947 Nov 24 (6) 1948 Aus 13 1956—Aor 20 3-51/1 1957 Aug 9 3Vi-6 Rates on commitments 1941—In effect Jan. 1 Feb 1 1942 Mar 21 May 2 Vi-1 1-2 Vi-2 1 1-2 1-2 V$-l Vi-2 8 1 1-2 . 10 14-114 1014-114 1H4-114 101^-114 Vi WA Vi WA VL-WA 5 14-114 1948 Jan 12 1953 Jan. 16 20 loii-iii VL-WA VL-WA VL~WA 14 Vi WA Vi WA VL-IVL 12 34-114 VL-WS 10 1^-13/g i°Vi 1% 23 July VL-2 VA 2 Vi-2 16 20 Aug. 13 1 8 1 23 29 1944—Oct. 92 3 VL-W% 1956 Apr 13 20 VA WS ^ 1% Aug 27 13 1 1% 28 11 14 1% 31 VL 1% 1957 Mav 27 Aug Vi IVi 14 114 9 13 1 \\fc 13 15 19 21 23 Nov 15 A IVi 1959 V> \V> 10 Vi IVi l O K - l f e Vi 1% 13 1 \3/g 13 1 II4 13 1-1% VL lVi 13 1 Vi 1% 1% 13 1 11/4 Mar 16 10 Financing institution is charged one-fourth of 1 per cent on undisbursed portion of loan under commitment. n Minimum rate on direct loans to industrial and commercial businesses was one-half of 1 per cent. 12 Financing instituion is charged one-half of 1 per cent on undisbursed portion of loan under commitment. 13 Financing institution is charged 25 per cent of loan rate. Charge of one-half of 1 per cent per annum is made on undisbursed portion. Rate shown was applicable to direct loans to industrial and commercial businesses. 1 May charge same rate as charged borrower by financing institution, if lower. 2 One per cent less than rate charged borrower by financing institution with minimum of 3 per cent (see note 1). 3 One per cent less than rate charged borrower by financing institution. 4 Rate charged borrower less commitment rate. 5 Rate charged borrower but not to exceed 1 per cent above the discount rate. « Same rate as borrower is charged. 7 One-half of 1 per cent less than rate charged borrower but not less than 4 per cent (see note 1). 8 Minimum charge of one-fourth of 1 per cent. 9 Minimum charge of one-half of 1 per cent. Vi ivi Vi ivi VL WS 28 22 26 12 28 VL-11A l 1958 Jan 24 Apr Aug. Sept Oct tt-VA NOTE.—Section 13b of Federal Reserve Act was repealed effective Aug. 21, 1959. 35 4. MAXIMUM RATES ESTABLISHED BY THE BOARD OF GOVERNORS A. MAXIMUM INTEREST RATES PAYABLE ON TIME AND SAVINGS DEPOSITS [Per cent per annum] Effective date Type of deposit Nov. 1, 1933 Jan. 1, 1936 Feb. 1, 1935 2% Savings deposits held for: 1 year or more Less than 1 year } 3 Postal savings deppsits held for: 1 year or more Less than 1 year } 3 } 3 Other time deposits payable in: 1 year or more 6 months-1 year 90 days-6 months Less than 90 days Jan. 1, 1962 Jan. 1, 1957 July 17, 1963 Nov. 24, 1964 3 4 3% 4 4 3 2ft { t» i t» 4 4 4 1 3 2 1 3 1 2 ¥I ; 4 B. LOANS GUARANTEED UNDER REGULATION V Fee payable to guaranteeing agency by financing institution on guaranteed portion of loan (percentage of interest on loan to be paid as guarantee fee) Maximum rate financing institution may charge borrower (per cent per annum) Date established Percentage of loan guaranteed 60 or less 65 70 75 80 85 90 95 Over 95.. Date established Apr. 6, 1942 10-20 10-20 10-20 10-20 20-25 20-25 20-25 30-40 30-40 Dec. 30, 1942 10 •I* 22Vi i 25-30 30-50 30-50 Sept. 11, 1944 Sept. 27, 1950 10 10 10 10 10 15 20 30 50 10 10 10 15 20 25 30 35 40-50 6, 12, 30, 11, Maximum commitment fee 1942. 1943. 1943. 1944. Sept. 27, 1950. May 15, 1957. on average daily unused balance of the maximum principal amount of the loan or (2) a flat fee of not to exceed $50.00 without regard to the amount or maturity of the commitment. 1 Range of 25-30 per cent on loans of more than $150,000; 25 per cent on loans of $150,000 or less. 2 Maximum commitment fee that may be charged borrower by financing institution was (1) one-fourth of 1 per cent per annum to be based Apr. May Aug. Sept. Maximum rate of interest 36 5. SHORT-TERM OPEN MARKET RATES IN NEW YORK CITY A. ANNUALLY AND MONTHLY, 1941-63 [Averages of daily figures; per cent per annum] Period Prime coml. paper, 4- to 6months Finance co. paper Prime placed bankers' directly, accept3- to 6ances, months 90 days Stock Exchange call loans Month New Renewal .44 .44 .44 .44 1.00 1.00 1.00 1.00 .00 .00 .00 .00 1.49 .94 1.34 1.46 .44 .61 .87 .11 .13 1.00 1.16 1.38 1.55 1.63 .00 .16 .38 .55 .63 1.45 2.16 2.33 2.52 1.58 1.41 1.87 2.16 2.33 1.42 .15 .60 .75 .87 .35 1.63 2.17 2.48 3.06 3.05 1.63 2.17 2.48 3.06 3.05 2.18 3.31 3.81 2.46 3.97 1.97 3.06 3.55 2.12 3.82 1.71 2.64 3.45 2.04 3.49 3.20 4.08 3.20 4.03 1941. 1942. 1943. 1944. .53 .66 .69 .73 1945. 1946. 1947. 1948. 1949. .75 .81 1.03 1950. 1951. 1952. 1953. 1954. 1955. 1956. 1957. 1958. 1959. 1.44 3.85 2.97 3.26 3.55 1960. 1961. 1962. 1963. 1941—Jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. .56 .56 .56 .56 .56 .54 .50 .50 .50 .50 .50 .55 1942—Jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. 3.54 2.68 3.07 3.40 4.99 4.50 4.50 4.50 3.51 2.81 3.01 3.36 .44 T 4.50 3.72 4.22 .59 .63 .63 .63 .63 .67 .69 1.00 1.00 T T 1946—Jan.. Feb.. Mar.. Apr.. May. June. July. , Aug.. Sept.. Oct.. Nov.. Dec. 1947—Jan.. . Feb.. Mar.. Apr... May. June., July.. Aug.. Sept.. Oct.. Nov.. Dec. 1948_Jan.. Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct.. Nov.. Dec. T 1949__jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. Dec. 1943_Jan... Feb.. Mar.. M*ay.' June. July.. Aug.. Sept.. Oct... Nov.. Dec. 1944__j a n ... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 1945—Jan.. Feb.. Mar.. Apr.. May. June. July., Aug.. Sept.. Oct.. Nov.. Dec. 1950—Jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. .69 .72 .75 .75 I 1.00 1.00 37 Prime coml. paper, 4-to 6months Finance co. paper Prime placed bankers' directly, accept3-toeances, months 90 days .75 T .44 T .44 .48 .50 .61 .73 .81 .77 .81 .81 .89 .94 1.00 T Stock Exchange call loans New Renewal 1.00 1.00 T T 1.00 1.38 1.38 T T .88 T .00 .02 .06 .10 .22 .88 .91 1.08 1.13 1.22 .81 .84 .94 .94 .94 1.05 1.38 1.45 1.38 1.45 .30 .38 T 1.25 1.06 1.50 1.50 T t 1.06 1.14 1.19 1.50 1.56 1.63 .As 1.47 1.54 1.56 1.25 1.38 1.50 1.50 1.56 1.63 T T T 1.56 1.43 1.38 1.38 1.38 1.33 1.50 1.43 1.38 1.19 1.07 1.06 T T 1.31 t 1.42 1.65 1.72 1.69 1.72 1.38 1.40 1.50 1.50 1.50 1.16 1.31 1.31 1.31 1.31 1.63 1.63 5. SHORT-TERM OPEN MARKET RATES IN NEW YORK CITY — Continued A. ANNUALLY AND MONTHLY, 1941-63 — Continued [Averages of daily figures; per cent per annum] Month Prime coml. paper, 4-to 6months Finance co. paper Prime placed bankers' directly, accept3- to 6ances, months 90 days Stock Exchange call loans Month New Renewal 2.00 2.00 2.00 2.00 2.13 2.25 2.00 2.00 2.00 2.00 2.13 2.25 T T 1951—Jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 1.86 1.96 2.04 2.11 2.16 2.31 2.31 2.26 2.19 2.22 2.25 2.30 1.63 1.63 1.63 1.75 1.75 1.99 2.00 2.00 2.00 2.00 2.00 2.06 1.37 1.50 1.61 1.63 i 1.63 1.68 i 2.25 2.36 i 2.25 2.36 1952—Jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 2.38 2.38 2.38 2.35 2.31 2.25 2.25 2.25 2.15 2.13 1.75 2.45 2.38 2.45 2.38 T T i 2.38 2.55 2.63 I 2.38 2.55 2.63 T T T T i T T 1.75 1 1 1.82 1.88 1953—Jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 2.31 2.36 2.44 2.67 2.75 2.75 2.75 2.74 2.55 2.31 2.25 2.13 2.25 2.32 2.42 2.50 2.50 2.50 2.50 2.35 2.13 2.13 1954—Jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 2.11 2.00 2.00 : 1.76 1.58 1.56 1.45 [.33 1.31 1.31 1.31 [.31 2.06 1.78 1.58 1.50 1.38 1.31 1.25 i 1.25 1.25 1955_jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 1.47 1.68 1.69 1.90 2.00 2.00 2.11 2.33 2.54 2.70 2.81 2.99 1.37 1.50 1.50 1.73 [.88 [.82 1.87 2.02 2.28 2.46 2.53 2.80 1.33 1.38 1.38 1.43 1.50 1.50 1.50 1.67 2.08 2.23 2.17 2.43 1956—Jan... Feb.. Mar.. Apr.. May. June. July.. Aug . Sept . Oct.. Nov . Dec . 3.00 3.00 3.00 3.14 3.27 3.38 3.27 3.28 3.50 3.63 2.88 2.88 2.88 2.93 3.00 3.00 2.94 3.01 3.13 3.37 3.38 T 2.45 2.38 2.38 2.44 2.50 2.45 2.43 2.65 2.88 2.88 3.05 3.35 i 3.38 : 5.48 3.38 3.38 3.27 3.20 3.25 : $.36 1957—Jan .. Feb .. Mar . Apr . May. June. T i 3.63 : J.79 T i 1.88 1.68 1.48 1.25 T ; i 2.63 2.89 3.21 3.25 I 2.63 2.89 3.21 3.25 T T T 1 i 3.25 3.13 3.00 3.25 3.13 3.00 T T 4 i 3.00 3.01 3.34 3.40 3.50 3.55 3.63 i 3.00 3.01 3.34 3.40 3.50 3.55 3.63 3.63 3.63 3.63 4.00 4.00 4.00 4.00 4.18 4.50 3.63 3.63 3.63 3.94 4.00 4.00 4.00 4.14 4.38 T T i 4.50 i 4.50 4.50 4.50 4.50 4.38 Prime coml. paper, 4-to 6months Finance co. paper Prime placed bankers' directly, accept3- to 6ances, months 90 days Stock Exchange call loans Renewal New 1957—July. Aug.. Sept.. Oct.. Nov.. Dec. 3.88 3.98 4.00 4.10 4.07 3.81 3.63 3.63 3.82 3.88 3.79 3.55 3.38 3.78 3.83 3.75 3.50 3.35 4.50 T 1958_Jan.. Feb.. Mar.. M^iy! June. July., Aug.. Sept.. Oct.. Nov.. Dec. 3.49 2.63 2.33 1.90 1.71 1.54 1.50 1.96 2.93 3.23 3.08 3.33 3.23 2.18 1.86 1.59 1.38 1.38 1.31 1.52 2.47 2.87 2.75 2.94 3.06 2.30 1.80 1.52 1.30 1.13 1.13 1.65 2.39 2.75 2.75 2.75 4.27 3.88 3.88 3.76 3.50 3.50 3.50 3.50 3.65 3.75 1959__j an .. Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct.. Nov.. Dec. 3.30 3.26 3.35 3.42 3.56 3.83 3.98 3.97 4.63 4.73 4.67 4.88 3.05 3.00 3.22 3.36 3.44 3.66 3.81 3.87 4.52 4.70 4.38 4.82 2.75 2.75 2.88 2.98 3.17 3.31 3.45 3.56 4.07 4.25 4.25 4.47 1960—Jan.. Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct.. Nov.. Dec. 4.91 4.66 4.49 4.16 4.25 3.81 3.39 3.34 3.39 3.30 3.28 3.23 5.02 4.50 4.16 3.74 3.88 3.24 2.98 2.94 3.13 3.11 2.91 2.97 4.78 4.44 3.96 3.88 3.78 3.28 3.13 3.04 3.00 3.00 3.00 2.92 1961—Jan.. Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct.. Nov.. Dec. 2.98 3.03 3.03 2.91 2.76 2.91 2.72 2.92 3.05 3.00 2.98 3.19 2.78 2.65 2.76 2.58 2.50 2.66 2.50 2.64 2.68 2.79 2.74 2.93 2.86 2.78 2.94 2.84 2.68 2.75 2.75 2.81 2.84 2.75 2.75 2.87 1962—Jan . . Feb . Mar. Apr. May. June. July.. Aug . Sept . Oct ., Nov. Dec. 3.26 3.22 3.25 3.20 3.16 3.25 3.36 3.30 3.34 3.27 3.23 3.29 3.05 3.00 3.02 3.09 2.95 3.02 3.20 3.12 3.13 3.04 3.08 3.16 3.00 3.00 3.00 3.00 2.91 2.90 3.07 3.11 3.09 3.03 3.00 3.00 1963—Jan . . FebJ. Mar. Apr . May. June., July.. Aug ., Sept . Oct . . Nov. Dec .. 3.34 3.25 3.34 3.32 3.25 3.38 3.49 3.72 3.88 3.88 3.88 3.96 3.18 3.13 3.15 3.17 3.15 3.21 3.35 3.57 3.63 3.72 3.75 3.84 3.07 3.13 3.13 3.13 3.13 3.24 3.41 3.59 3.63 3.63 3.71 3.63 38 4*0 T 3.75 3.96 4.19 4.25 4.25 4.75 4.75 4.75 4.75 5.41 5.50 5.50 5.50 5.11 5.00 5.00 4.85 4.50 T 4.io 5. SHORT-TERM OPEN MARKET RATES IN NEW YORK CITY — Continued B. WEEKLY, 1941-63 [Averages of daily figures; per cent per annum] Prime coml. paper, 4- to 6months 1941 Jan 4 . . . 11 18... . .56 T 25 Feb. 1 8 15 22 Prime coml. paper 4- to 6months Week ending— 1942—Jan. 3 . . . . 10 17.... 24.... 31.... .56 .56 .56 .61 .63 1943—Jan. 2 . . . . 9 16.... 23.... 30.... t Prime coml. paper, 4- to 6months .69 T Week ending— 1944—Jan. 1 . . . . 8 15.... 22.... 29.... Prime coml. paper, 4- to 6moixths .69 6.... 13 20.... 27.... Apr 5 19 . 26 . June 7 14 21 .. 28 .56 .55 .50 July 5 12:..::. 19 26 t Aue 2 . . . . 9.::::.: 16 Feb. 5 12.... 19 26.... Mar. 6 . . . . 13.... 20 27.... Mar. 4 . . . . 11.... 18 25.... Apr. 3 . . . . 10 17.... 24.... Apr 1 May 1 . . . . 8... 15.... 22 29.... June 6 . . . . 13 20.... 27. . . .63 .68 .69 T June 5 . . i . 12 19.... 26 June 3 10 17.... 24 30 July 3 . . . . 10. 17 24.... 31.... July 1 . . . . 8 15 22.... 29.... July 7 . . . . 14. . 21 28.... July 4 . . . . 11 18 25.... l15: : : : 22.... 29.... Mar. 3 10.... 17 24 31.... 1 .69 .74 .75 20..'.'. 27.... Oct. 4 11 18 25 . Oct. 3 10.... 17 24.... 31.... Oct. 2 9 16 23.... 30.... Nov. 7 14.... 21 28.... Nov. 6 13 20 27.... Nov. 4 11.... 18 25.... Dec. 5 . . . . 12 19. . . 26.... Dec. 4 . . . . 11 18 25.... Dec. 2 . . . . 9 16 23 30.... Sept. 2 9... 16 23 30.... 18 25 1 .69 39 i .69 .i::- 19 26... n.::: Sept. 1 . . . . 8.... 15... 22 29... Oct. 7 . . . . 14 21.... 28.... .56 .56 May 18 25.... 19.'.'.'. 26 Sep.. 4 . . . . 1 21.... 28.... Aug Aug. 7 14.... 21 28 Sept. 5 12 . 19 26. .. .50 .56 Apr.J.... T Sept. 6 13:..: . 20 27 . .75 T June 2 9.... 16 23.... 30 7.... 14.... 21 28.... Aug. 1 . . . . 8 15.... 22.... 29. . . 23 Prime coml. paper, 4- to 6months Feb. 3 . . . . 10 17 24 Feb. 6 13.... 20 27.... May 2 . . . . 9 16.... 23. 30.... 22 29 Dec. 6 13 20 27 .. 1945_jan. Apr. 4 11. . . 18.... 25.... 15. Nov 1 . . . 8 15 22 29. . Week ending— Mar. 7 . . . . 14.... 21. 28.... Mar. 1 8 May 3 10... 17 24 31 . Week ending— Feb Week ending— Oct. 6 13.... 20 27.... Nov. 3 . . . . 10 17.... 24 Dec. 1 8.... 15 22... 29 .75 1 .75 5. SHORT-TERM OPEN MARKET RATES IN NEW YORK CITY — Continued B. WEEKLY, 1941-63 — Continued [Averages of daily figures; per cent per annum] Week ending— 1946—Jan. 5. 12. 19. 26. Prime coml. paper, 4- to 6months Finance co. paper Prime placed bankers' directly, accept3-toeances, months 90 days .75 .44 T T Stock Exchange call loans Week ending— New Renewal 1.00 1.00 T T Feb. 2 . 9. 16. 23. 1947_Mar. 1 8 15 22 29 New Renewal .88 .81 1.38 1.38 T T T T 1.50 1.50 June 7 14 21 28 July 18. 25. .r 19 26 Aug. 2 9 16 23 30 June 1. 8. 15. 22. 29. Sep.,6 20. 27. 94 20 27. 1.15 1.38 Sep,.7. 21. 28. Oct. 5. 12. 19. 26. 1.00 1.05 Oct. 4 11 18 25. Nov. 1. 8. ' 15. 22. 29. 1.00 Aug. 3. 10. 17. 24. 31. .06 .94 1.03 1.06 Dec. 6. 13. 20. 27. 1948—Jan. 3. 10. 17. 24. 31. 94 Dec. 7. 14. 21. 28. Feb. 7. 14. 21. 28. 1947—Jan. 4. 11. 18. 25. .88 Mar. 6. 13. 20. 27. Feb. T Stock Exchange call loans May 3 10 17 24 31 Apr. 6. 13. 20. 27. 15. 22. 1.00 Finance co. paper Prime placed bankers' directly, accept3- to 6ances, months 90 days Apr. 5 12 19 26 Mar. 2. 9. 16. 23. 30. Nov. 2. 9. 16. 23. 30. Prime coml. paper 4- to 6months 1.00 .88 .81 1.38 Apr. 3. 10. 17. 24. 1.38 40 1.38 1.25 1.06 5. SHORT-TERM OPEN MARKET RATES IN NEW YORK CITY — Continued B. WEEKLY, 1941-63 — Continued [Averages of daily figures; per cent per annum] Week e n d i n g - 1948—May 1. 8. 15. 22. 29. Prime coml. paper, 4- to 6months Finance co. paper Prime placed bankers' directly, accept3- to 6ances, months 90 days Stock Exchange call loans Week ending— New 1.38 1.25 1.06 1.50 T T T Renewal .50 T 1949_j u ly 2. 9. 16. 23. 30. June 5. 12. 19. 26. Prime coml. paper, 4- to 6months Finance co. paper Prime placed bankers' directly, accept3- to 6ances, months 90 days Stock Exchange call loans New Renewal 1.56 1.50 T 1.19 1.06 T 1.63 T 1.63 T 1.31 1.56 1.38 1.06 1.31 1.63 1.63 T 20... 27.... Sept. 3 . . . . 10... 17.... 24.... July 3 . 10. 17. 24. 31. Aug. 7. 14. 21. 28. Oct. 1 . . . . 8..., 15.... 22.... 29.... Sept. 4. 11. 18. 25. Nov. 5 . . . . 12.... 19.... 26.... Oct. 2 . 9. 16. 23. 30. Dec. 3 . . . . 10.... 17.... 24.... 31.... Nov. 6. 13. 20. 27. 1950—Jan. 7 . . . . 14.... 21.... 28.... Dec. 4 . 11. Feb. 4 . . . . 11.... 18.... 25.... 18. 25. 1949_jan. i. 8. 15. 22. 29. Mar. 4 . . . . 11.... 18.... 25.... Feb. 5. 12. 19. 26. Apr. 1 . . . . 8.... 15.... 22.... 29.... Mar. 5. 12. 19. 26. May 6 . . . . 13.... 20.... 27.... Apr. 2 . , 9., 16.. 23.. 30.. June 3 . . . . 10.... 17.... 24.... July 1 . . . . 8 15.... 22.... 29.... May 7. . 14.. 21.. 28.. June 4 . . 11.. 18.. 25.. AU8 1.56 1.50 1.19 1.63 1.63 41 ^:::: 19.... 26.... 5. SHORT-TERM OPEN MARKET RATES IN NEW YORK CITY — Continued B. WEEKLY, 1941-63 — Continued [Averages of daily figures; per cent per annum] Week ending— Prime coml. paper 4- to 6months Finance co. paper Prime placed bankers' directly, accept3- to 6ances, months 90 days Stock Exchange call loans Week ending— Prime coml. paper 4- to 6months Finance co. paper Prime bankers' placed acceptdirectly, ances, 3- to 690 days months Stock Exchange call loans 1.63 1.63 1.63 1.63 1.73 1.38 1.38 1.38 1.38 1.48 Oct. 7. 14. 21. 28. 1.75 1.75 1.73 1.69 2.25 2.25 T T 2.25 2.45 2.50 2.25 2.45 2.50 2.50 2.50 2.50 2.40 2.50 2.50 2.50 2.40 Feb. 2 . . . 9... 16... 23... 2.38 2. 38 2.38 2.60 2.63 2.38 2.60 2.63 1.50 T Nov. 4 . 11. 18. 25. 1.63 Renewal Renewal 1.63 T New 1952—Jan. 5 . . . 12... 19... 26... 1950—Sept. 2 . 9. 16. 23. 30. New T 1.31 T T 1951—Nov. 3 . . . 10... 17... 24... Dec. 1 . . . 8... 15... 22... 29... Dec. 2 . 9. 16. 23. 30. .69 .70 .75 .75 1951—Jan. 6. 13. 20. 27. .75 .75 .94 .94 Feb. 3 . 10. 17. 24. .94 .94 .94 2.00 Apr. 5 . . . 12... 19... 26... Mar. 3 . 10. 17. 24. 31. 2.00 2.00 2.05 2.06 2.06 2.06 2.11 2.13 2.13 2.13 2.13 2.16 2.19 June 2 . 9. 16. 23. 30. 2.25 2.31 T 2.25 2.33 2.38 2.00 2.25 1.63 T June 7 . . . 14... 21... 28... May 5. 12. 19. 26. 2.00 T May 3 . . . 10... 17... 24... 31... 21. 28. 2.25 T 1.63 1.63 2.00 2.00 2.00 2.15 2.25 Mar. 1 . . . 8... 15... 22... 29... July 2.00 2.15 2.25 ii::: Aug. 2 9 16 23 30 1.75 2.00 Sept. 6 20!'.'.'.'.'. 27 Oct. 4 11 Aug.4. Oct. 6. 13. 20. 27. 2.25 2.13 19... 26... July 7. 14. 21. 28. 18. 25. Sept. 1. 8. 15. 22. 29. 2.38 2.36 2.31 2.31 2.19 18 25 Nov. 1 8 15 22 29 2.19 2.21 2.25 2.00 1.63 2.25 Dec. 6 13 20 27 i 2.25 42 2.31 2.i 3 1.75 2.63 5. SHORT-TERM OPEN MARKET RATES IN NEW YORK CITY — Continued B. WEEKLY, 1941-63 — Continued [Averages of daily figures; per cent per annum] Week ending— 1953—Jan. 3 . 10. 17. 24. 31. Prime coml. paper, 4- to 6months Finance co. paper Prime placed bankers' directly, accept3- to 6ances, months 90 days 2.31 2.13 T T Feb. 7. 14. 21. 28. I 2.31 2.38 2.38 2.38 Week ending— New Renewal 2.63 T 2.63 T 1954—Mar. 6 13 20 27 2.00 2.00 2.00 2.00 Apr. 3 10 17 24 June 6. 13. 20. 27. 2.38 2.38 2.43 2.50 2.55 2.63 2.69 2.69 2.69 2.75 T 2.63 2.78 2.88 3.00 New Renewal 3.25 3.25 3.10 3.00 3.25 3.25 3.10 3.00 T 3.13 3.13 3.25 1.68 1.63 1.58 1.50 1.63 1.63 1.55 1.25 T 3.00 3.00 June 5 12 19 26 3. 2.38 2.38 2.38 2.45 2.50 Stock Exchange call loans 1.69 1.64 1.56 T 2.63 2.78 2.88 3.00 2.25 2.33 2.38 Finance co. paper Prime placed bankers' directly, accept3- to 6ances, months 90 days 2.00 1.88 1.69 1.69 2.25 T 18. 25. May 2 . 9. 16. 23. 30. Prime coml. paper, 4- to 6months May 1 8 15 22 29 1.75 1.75 1.78 1.88 T 2.13 Mar. 7. 14. 21. 28. Stock Exchange call loans July 3 10 17 24 31 T AU8 -.I:::::: 21 28 July 4 . 11. 18. 25. is'.!!!!! 29. 25 Oct. 2 9 16 23 30 Sept. 5. 12. 19. 26. 2.75 I Nov. 6 13 20 27 Oct. 3 . 10. 17. 24. 31. 2.70 2.69 2.52 2.50 2.45 2.50 2.43 2.38 2.28 2.25 Nov. 7. 14. 21. 28. 2.38 2.38 2.25 T 2.16 2.13 T Aug. 1. 8. 15. 22. Dec. 5. 12. 19. 26. Dec. 4 11 18 25 1955—Jan. 1 8 15 22 29 Feb. 5 12 19 26 i 1954_j a n. 2 . 9. 16. 23. 30. 2.25 2.20 2.13 2.13 2.00 Feb. 6. 13. 20. 27. 2.00 2.00 2.00 2.00 1.25 1.30 1.38 T 2.13 1.75 1.75 1.75 Mar. 5 12 19 26 1.83 1.63 1.63 1.63 3.25 43 l.j69 Apr. 2 9 16 23 30 1.88 1.74 1.81 1.86 1.94 1.99 1.50 1.59 1.73 1.75 1.85 1.38 1.48 1.50 5. SHORT-TERM OPEN MARKET RATES IN NEW YORK CITY — Continued B. WEEKLY, 1941-63 — Continued [Averages of daily figures; per cent per annum] Week ending— 1955—May 7. 14. 21. 28. Prime coml. paper, 4- to 6months 2.00 T Finance co. paper Prime placed bankers' directly, accept3- to 6ances, months 90 days .88 .88 .88 June 4. 11. 18. 25. i July 2 . 9. 16. 23. 30. 2.00 2.05 2.06 2.14 2.19 .88 Aug.6. 2.29 2.31 2.31 2.35 Sept. 3 . 10. 17. 24. 1.50 T Stock Exchange call loans Week ending— New Renewal 3.00 T 3.00 T 1956—July 7 14 21 28 Prime coml. paper, 4-toemonths Finance co. paper Prime placed bankers' directly, accept3- to 6ances, months 90 days 3.34 3.31 3.29 3.19 2.97 2.94 2.94 2.94 2.38 2.38 2.43 2.50 .88 .83 .81 .81 Au8 18 25 3.19 3.19 3.25 *3.35 2.94 2.94 2.90 3.10 2.50 2.50 2.60 2.73 .81 .86 3.38 3.50 3.50 3.50 3.50, 3.13 3.13 3.13 3.13 3.15 2.85 2.88 T 3.63 T Stock Exchange call loans New Renewal 4.00 T 4.00 T 4.00 4.00 4.25 4.38 T 3.35 3.38 T i?:::::: 1.50 3.00 3.03 3.00 3.03 Sept. 1 8 15 22 29 1.98 2.00 2.00 2.00 1.53 1.63 1.68 1.75 3.25 3.35 3.38 3.25 3.35 3.38 T Oct. 6 13 20 27 2.48 2.50 2.55 2.56 2.20 2.25 2.25 2.30 1.85 2.00 2.13 2.13 3.38 3.38 Nov. 3 10 17 24 I 2.88 3.06 3.13 Oct. 1. 8. 15. 22. 29. 2.58 2.63 2.66 2.74 2.75 2.31 2.38 2.45 2.50 2.50 2.13 2.20 2.25 2.25 2.25 3.48 3.50 3.48 3.50 T Dec. 3.19 3.26 3.38 T Nov. 5. 12. 19. 26. 2.75 2.75 2.81 2.86 2.50 2.50 2.50 2.56 2.13 2.13 2.13 2.25 Dec. 2.88 3.00 2.63 2.70 2.84 2.88 T 2.25 2.35 2.48 2.50 2.50 4.35 20. 27. 3. 10. 17. 24. 31. 4. 11. 18. 25. Feb. May 5. 12. 19. 26. 3.38 3.38 3.38 3.38 3.38 2.38 2.50 T 3.63 4.00 3.88 3.88 4.00 T Aug. 2.50 2.40 2.38 4.00 4.00 44 ,!:::::: 20 27 3 10 17 24 31 4.38 4.50 T 3.13 3.18 3.25 T I June 1 8 15 22 29 July 3.00 3.38 3.18 3.13 May 4 11 18 25 3.25 June 2. 9. 16. 23. 30. 2.88 2.98 3.00 4.50 Apr. 6 13 20 27 3.63 3.00 3.05 3.25 T 2 9 16 23 Mar. 2 9 16 23 30 T Mar. 3. 10. 17. 24. 31. 21. 28. 1957—Jan. 5 12 19 26 2.50 2.50 2.45 2.38 1956—Jan. 7. 14. 21. 28. Feb. 3/50 3.63 1 8 15 22 29 4.50 T 3.38 3.40 3.55 3.59 3.25 3.30 3.38 T 3.63 i I 3.88 3.95 4.00 4.00 4.00 3.38 3.53 3.90 3.98 3.88 3.63 4.50 5. SHORT-TERM OPEN MARKET RATES IN NEW YORK CITY — Continued B. WEEKLY, 1941-63 — Continued [Averages of daily figures; per cent per annum] Prime bankers' acceptances, 90 days SeDt 7 14 21 28 4.00 4.00 4.00 400 3.66 3.83 3.88 3.88 3.88 3.85 3 75 4.50 Oct 5 12 19 26 4.00 4.09 4.13 4.13 Nov. 2 9 16 23 30 4.13 4 13 4.13 4.04 4 00 3.88 3.75 3 66 3.75 3 66 3.56 3.38 3 38 3.93 3.81 3.75 3.75 3.63 3.58 3.50 3.50 3.38 3.33 3.33 3.38 1958—Jan. 4 11 18 25 3.75 3.68 3 55 3.40 3.50 3.43 3.38 3.13 3.34 3.25 3 13 2.98 Feb 1 8 15 22 3.23 2.83 2.63 2.63 2.90 2.43 2.19 2.13 2.78 2.43 2.38 2.35 Mar 1 8 15 22 29 2 45 2.38 2 38 2 38 2.23 1.98 ) 88 ( 88 1 88 1.83 2 08 1.88 1 88 1 88 1.63 Apr 5 12 19 26 2.13 7 on (.88 1.75 1.75 1 74 63 40 1.63 1 63 1.58 1.38 May 3 10 17 24 31 [.75 I 75 1.75 I 70 1.63 38 * 1 1.38 1 38 1.38 1 28 1.13 June 7 14 21 28 (.63 Week ending— 1957 Dec 7 14 21 28 . . T 1958 T T 2.88 2.75 2.75 2.75 2.75 6. 13 20 27 3.20 3.38 3.38 3.38 2.75 2.98 3.00 3.00 Jan 3 10 17 24 31 3 31 3.25 3.25 3 33 3.38 3 00 3.00 3.00 3 10 3.13 7 14 21 28 3.30 3.25 3.25 ,3.25 3.00 3.00 3.00 3.00 2.75 3.28 3.38 3.00 3.25 3.31 3.31 2.80 2.98 2.88 2.88 3.31 3.31 3.31 3.41 2.88 2.88 2.98 3.05 3.13 3.13 3 13 3.20 3.25 i 1 r 1959 1 4.50 4.13 1.13 1.13 35 ! 80 88 1.13 1.15 1.58 1.88 2.13 Sept. 6 13 20 27 2.88 2 88 2.90 3 00 2. 38 2 1R 2.41 2 56 2.25 2 25 2.45 2 50 Oct. 4 11 18 25 3.20 3.25 1 25 5.25 2.84 2.88 2.88 2.88 2.70 2.75 2.75 2.75 3.75 T T 3.50 3.50 3 50 3.63 3.63 3.44 3 75 3.81 3.88 3.88 3 44 3.51 3.81 July 4 11 18 25 3 88 3.98 4 00 4.00 3 38 3.38 3 48 3.50 3.99 3 89 3.88 3.98 4.10 3.81 3.99 3.50 3 50 3.50 3.59 3.63 Sept 5 12 19 26 4.38 4.50 4.70 4.75 4.31 4.38 4.58 4.63 3.83 3.94 4.10 4.18 Oct. 3 10 17 24 31 4.75 4.75 4.75 4.75 4.68 4.73 4.88 4.81 4.63 4.43 4.25 Nov 7 14 21 28. . : 4 63 4.63 4 65 4.75 4 38 4.38 4 38 4.38 4.25 Dec 5 . 12 19 26. 3.88 3.58 3.i8 June 6 13 20 27 1 4.88 4.88 4.88 4.88 4.63 4.80 4.88 4.88 4.33 4.50 4.50 4.50 3.48 3.50 f 1 8 15. 22 29 AUK. 1 1 50 1.68 2.14 2.63 2.75 May 2 9 16 23 30 J I Aug. 2 9 16 23 30 Stock Exchange call loans, going rate Apr. 4 11 18 25 T T 38 1.30 T Prime bankers' acceptances, 90 days 3.88 T 3.15 3.13 3.00 3.08 3.13 Week ending— 1.50 July 5 12 19 26 Nov 1 8 15 22 29 Mar 7 14 21 28 Stock Exchange call loans, going rate Finance co. paper placed directly, 3- to 6months Feb Finance co. paper placed directly, 3- to 6months Prime coml. paper, 4- to 6months Dec Prime coml. paper, 4- to 6months 1 3.50 3 55 3.75 I 3.75 45 . . T i T 3 25 3.25 3.35 3.38 T I 375 4.19 t 4.19 4 22 4.25 T i 4.25 4.65 4 75 SHORT-TERM OPEN MARKET RATES IN NEW YORK CITY — Continued B. WEEKLY, 1941-63 — Continued [Averages of daily figures; per cent per annum] Prime coml. paper, 4- to 6months Finance co. paper placed directly, 3- to 6months Prime bankers' acceptances, 90 days Stock Exchange call loans, going rate I960—Jan. 2 9 16 23. 30 4.88 4.88 5.00 4.98 4.80 4.88 4.93 5.13 5.13 4.90 4.50 4.64 4.88 4.85 4.78 4.75 5.15 5.50 Feb. 6, 13. 20, 27, 4.75 4.56 4.58 4.75 4.75 4.38 4.35 4.50 4.63 4.38 4.38 4.38 Mar. 5, 12, 19, 26, 4.85 4.70 4.53 4.25 4.61 4.49 4.19 3.86 4.38 4.18 3.93 3.73 Apr. 2, 9, 16, 23, 30, 4.13 4.05 4.09 4.25 T 3.58 3.50 3.78 3.88 T 3.63 3.63 3.94 4.00 4.00 Week ending— May 7. 14. 21. 28. 4.25 3.88 3.90 3.75 3.75 3.75 June 4. 11. 18. 25. 4.19 4.03 3.70 3.63 3.83 3.53 3.05 3.00 3.60 3.41 3.38 T 3.00 3.00 3.00 2.96 2.94 Prime bankers' acceptances, 90 days Stock Exchange call loans, going rate 1961—Jan. 7 14 21 28 3.06 3.00 3.00 2.90 2.83 2.81 2.81 2.71 2.88 2.88 2.88 2.88 4.50 T 2.93 3.00 3.00 3.09 2.64 2.63 2.63 2.66 2.75 2.75 2.75 2.81 Mar. 4 11 18 25 3.13 3.13 3.03 2.93 2.84 2.88 2.78 2.68 2.88 2.98 3.00 2.93 Apr. 1 8 15 22 29 2.97 3.00 2.98 2.88 2.78 2.63 2.66 2.64 2.53 2.50 2.88 2.88 2.88 2.84 2.78 May 6 13 20 27 2.75 2.75 2.75 2.75 2.50 2.75 2.63 2.63 2.68 June 3 10 17 24 2.88 3.00 3.00 2.90 2.58 2.71 2.75 2.65 July 1 8 15 22 29 2.78 2.75 2.75 2.68 2.70 2.54 2.50 T Aug 2.75 2.83 3.00 3.00 2.50 2.60 2.69 Week ending— 5.50 3.63 3.48 3.18 3.13 July 2. 9. 16. 23. 30. Finance co. paper placed directly, 3- to 6months Feb. 4 11 18 25 T Prime coml. paper, 4- to 6months 3.13 5.45 5.00 T Aug. 6. 13. 20. 27. 3.38 3.30 2.94 2.94 2.94 2.94 3.13 3.08 2.93 3.05 5.00 4.60 Sept. 3. 10. 17. 24. 3.25 3.25 3.40 3.50 3.01 3.06 3.11 3.19 3.00 4.50 Oct. 1. 8. 15. 22. 29. 3.45 3.38 3.38 3.30 3.18 3.19 3.19 3.19 3.15 2.98 Nov. 5. 12. 19. 26. 3.13 3.17 3.33 3.38 2.88 2.88 2.93 2.94 Dec. 3. 10. 17. 24. 31. 3.38 3.30 3.25 3.15 3.13 2.94 3.01 3.06 2.91 2.88 ii; 19, 26, Sept. 2, 9, 16, 23, 30, T i T 3.05 3.13 3.08 3.00 2.66 2.70 2.69 2.73 2.78 Dec. 2 9, 16, 23, 30, 46 3.00 2.98 2.88 2.98 3.00 3.10 3.13 3.15 3.25 3.25 2.81 2.83 2.93 3.00 3.00 2.88 2.75 2.81 2.81 2.81 2.76 Nov. 4, 11, 18, 25, 4.50 2.75 2.80 2.88 T Oct. 7, 14, 21, 28, 3.00 2.88 2.88 2.88 2.75 T 2.75 2.82 2.98 3.00 4.50 5. SHORT-TERM OPEN MARKET RATES IN NEW YORK CITY — Continued B. WEEKLY, 1941-63 — Continued [Averages of daily figures; per cent per annum] Prime coml. paper, 4- to 6months 1962—Jan. 6 13 20 27 .... Feb 3 10 17 24 3.25 3.35 3.30 3.20 3.00 3.09 3.11 3.03 3.13 3.18 3.25 Week ending— Finance co. paper placed directly, 3- to 6months 3.00 Prime bankers' acceptances, 90 days Stock Exchange call loans, going rate 3.00 4.50 T T 1963 Jan 19 26 Feb 2 9 T Mar. 3 10 17 24 31 Stock Exchange call loans, going rate 3.23 3.25 3 15 3.13 3.00 3.04 3.06 3.10 4.50 T 3.13 T T T 16 23 T Prime bankers' acceptances, 90 days 3.25 5 12 Finance co. paper placed directly, 3- to 6months 3.38 3.38 3 38 3.30 Week ending— Prime coml. paper, 4- to 6months Mar 2 . . 9 3.38 16 T 3!13 3.23 3.38 3.30 3.25 3.25 3.19 3.13 3.13 3 00 3.09 23 30 Apr 6 13 3.19 3.13 3.13 3.13 3.08 3.06 3.13 3.13 3.13 3.20 3.00 3.00 2.96 2.88 June 2 9 16 23 30 3.25 3.25 2.88 2.99 3.00 3.03 3.11 2.88 2.98 July 7 3.28 3.38 3.38 3.38 3.17 3.25 3.25 3.16 3.00 3.00 3.10 3.13 July 6 3.13 3.13 3.13 3.13 T Aug 3 10 25 3.38 3.33 3.25 3.28 Sept. 1 8 15 22 29 3.30 3.25 3.35 3.38 3.38 3 10 3.13 3.13 3.13 3 13 3.08 3.06 3.06 3.10 3 13 Seot 7 14::::::::::: 28 3 63 3.38 3.25 3.25 3.25 3.20 3.02 3.00 3.00 3.13 3.00 Oct. 5 12 26 3.68 3.75 3.75 3.66 3.15 3.22 3.25 2.95 3.03 3.11 3.13 Nov. 2 3.75 Apr 7 - 14 21 28 . . May 5 12 19 26 sis T 14 21 28 Aug 4 11 18 ... Oct 6 13 20 27 Nov. 3 10 17 24 Dec 1 8 15 22 29 T . . 3.25 i 3.28 3.38 3.13 3.13 3.14 3.19 3.19 20 27 i May 4 T June 1 3.00 2.95 2.88 i 11 18 25 8 i 15 22. 29 . 13 20 27 17 24 31 21 T 3.13 3.14 3.19 3.15 i 3.25 3.38 3.38 3.38 3.38 3.13 3.19 3.19 3.21 3.25 3.13 3.23 3.25 3.25 3.25 3.44 3.50 3.50 3.50 3.30 3.34 3.38 3.38 3.25 3.35 3.45 3.50 3.58 3.63 3.75 3.75 3.78 3.38 3.53 3.56 3.63 3.50 3.53 3.63 T 3.88 T 19 9 16 23 30 1 3.00 Dec. 7 14 21 1 4.50 28 47 T i i 3.88 3.98 4 00 4.00 3.75 3.84 3.88 3.88 1 3.63 3.72 3.75 3.75 3.63 T I 3.63 I 50 6. EFFECTIVE RATE ON FEDERAL FUNDS A. ANNUALLY AND MONTHLY, 1954-63 [Averages of daily figures; per cent per annum] Annual average 1954 1955 . 1956 1957 1958 1959 Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 1.78 2.73 3.11 1.57 3.30 1.37 2.44 2.93 2.72 2.48 i.29 1.35 2.50 2.96 1.20 2.80 1.43 2.62 3.00 1.26 2.96 1.43 2.75 3.00 .63 2.90 i.62 2.50 3.00 1.67 2.40 2.71 3.00 .93 3.39 1.68 2.74 2.99 .68 3.44 1.21 1.90 2.74 3.24 1.53 3.50 1.07 2.18 2.95 3.50 1.76 3.76 .90 2.24 2.96 3.50 1.80 3.98 .91 2.35 2.88 3.22 2.27 4.00 1.26 2.48 2.94 2.98 2.42 3.99 3.22 1.96 2.68 3.18 Year 3.99 1.45 2.14 2.91 3.97 2.54 2.37 3.00 3.84 2.02 2.70 2.98 3.92 1.50 2.69 2.90 3.85 1.98 2.29 3.00 3.32 1.73 2.68 2.99 3.23 1.16 2.71 3.02 2.98 2.00 2.93 3.49 2.60 1.88 2.90 3.48 2.47 2.26 2.90 3.50 2.44 2.62 2.94 3.48 1.98 2.33 2.93 3.38 . . . I960 1961 1962 . . . 1963 B. WEEKLY, 1954-63 [Averages of daily figures: per cent per annum] • Week ending— 1954_j u lv Rate 7 14 . . . 21 28 1 19 .73 .58 Aug. 4 11 18 25 .26 1 29 1.43 1.36 Sept 1 1.35 1.26 1.16 .68 1 15 Week ending— Rate 1.69 1 69 1.65 1.67 1955—July 6. 13 20. 27 Week ending— 1956 Rate Rate 1958—July 2 9 16 23 30 2.73 2 75 2 75 2.74 2 63 Aug 7 14 21 28 3 00 3.09 3.29 3.48 Aug 6 13 20 27 91 1.63 1.61 1.68 3.50 Sept 3 10 17 24 1.68 1.68 1.63 1 91 Oct 1 8 15 22 29 1 79 1.93 1 96 1.98 1.47 Nov 5 12 19 26 1.93 2.00 2.46 2.39 Dec 3 . 10 17. . . . 24 31 . . 2.30 2 39 2.50 2.50 2.47 Aug 1 g 15. 22 29 Sept 7. 14 21. 28 2.07 2.19 2 20 2 24 Sept 5 12 19 26 3.00 2.93 2.86 3 00 Sept 4 11 18 25 51 1.20 97 .79 Oct 5 12. 19 26 2 24 2.25 2 23 2 25 Oct 3 00 2 98 2 92 2 95 2.99 Oct Nov. 3 10 17 24 1.19 .72 .35 1.05 Nov 2 9 16 23. 30 2.25 2.25 2.24 2 46 2.49 Nov 7 14 21 28 3.00 2.98 2 97 2.59 Nov 6 13 20 27 3.50 3.07 3.00 Dec. 1 8 15 22. 29 1.41 1.39 1 30 1.25 1.13 Dec 7 14 21 28 2.50 2 46 2.48 2.48 Dec 5 12 19 26 2.95 2 79 2.96 2.99 Dec 4 11 18 25 2.93 3 00 3.00 3.00 1955_jan. 5 12 19 26 17 1.41 M 1.41 1956—Jan. 4 11 18 25 2.24 2.50 1957—Jan. 2 9 16 23 30 2.86 2.89 2.96 3.00 1958_Jan. 1 8 15 22 29 3.00 2.98 2.88 3.00 2.29 Feb 2 9 16 23 1.44 ?7 [.13 3? Feb 1 8 15 22 29 2.50 2.48 2.50 i Feb 6 13 20 27 Mar 2 9 16 23 30 1.38 41 ^4 I 31 1.44 Mar. 7 14 21 28 2.50 2 49 2 50 2.50 Mar. 6 13 20 27 Apr. 6 13 20 27 1.44 [ 44 40 1.34 Apr 4. 11 18. . . . 25 2.50 2 50 2.60 2.75 Apr. 3 10 17 24 May 4 11 18 25 1.66 1.30 3? 1.31 May 2 9 16 23 30 T June 1. 8 15 22 29. 69 I 67 69 55 55 7*71 May 1 8 15 22 29 June 6 13. 20 27. 2 72 2.75 2.75 2.61 June 5 12 19 26 s:::::.:.. 15 22 29 Oct 6 13 20 27 . . . . . . .. . . . . T 3 10 17 24 31 48 ... . . ... T T 2 9 16 23 30 1959—Jan 7 14 21 28 .. Rate 3.00 3 00 3 00 2.83 2 97 1957 1.72 1 87 1.87 1.96 2.00 Aug 3 10 17. 24 31. Week ending— July 3 10 • 17 24 31 2.75 2 75 2 75 2.74 July 4 11 18 25 Week ending— . .. .43 77 1.32 .45 .36 2.48 2.45 2.50 2.50 1.50 2.64 2.11 .73 Feb. 4 11 18 25 2.50 2.36 2.25 2.50 Mar 5 12 19 26 11 36 45 .07 Mar. 4 11 18 25 2.46 2.71 2 86 2.93 Apr 2 9 16 23 30 .55 07 75 .29 75 Apr. 1 8 15 22 29 2.84 3 00 3.00 3.00 2.93 May 7 14 21 28 1.11 .95 .47 20 May 6 13 20 27 June 4 11 18 25 32 1 39 1.36 .61 June 3 10 17 24 Feb 5 12 19 26 . . . j 3 no 2. 86 2. 97 3 00 f . . 1 3.00 . . . . . . 3.00 3.00 2.61 2.82 3 10 3.36 3.50 3.46 6. EFFECTIVE RATE ON FEDERAL FUNDS — Continued B. WEEKLY, 1954-63 — Continued [Averages of daily figures; per cent per annum] Week ending— Rate Week ending— 3 32 I960 June 1 8 3 50 15 3.36 22 3 50 29 T 1959 Julv 1 8 15 22 29 Aue 5 12 :::::::: 19 26 1 Rate Week ending— Rate Week ending— Rate Week ending— Rate 3.36 3.82 3.39 3.50 2.71 1961 M a y 3 10 17 24 31 . 57 1.64 2.29 2.50 2.14 1962 Aor 4 11.::::: 18 25 2 71 2.79 2.93 2.86 1963 Mar 6 13.. . 20 27 3 00 3 00 2.95 2 98 July 6 13 20 27 .. 3.36 2.93 3.50 3.14 June 7 14 21 28 .. 2.50 1.00 2.29 1.18 May 2 9 16 23 30 2.75 2.71 2.46 2.43 1 71 Apr. 3 10 17 24. 2 75 2.98 2.89 3 00 Sept 2 9 16 23 30 3.50 3 46 3 82 3 96 3 86 Aug. 3 10 17 24 31 3.29 3.11 3.07 2.68 2.89 July 5 12 19 26 . 1.04 1 36 1.18 .86 June 6 13 20 27 2.46 2 46 2.86 2 89 May 1 8 .. 15 22... 29 2.95 3.00 3 00 3 00 3 00 Oct 7 14 21 28 4.00 3 96 3 96 4 00 Sept. 7 14 21 28 2.96 2.79 1.89 2.64 Aug 2 .. 9 16 ... 23 30 1.64 2.25 2.75 1.64 1.50 Julv 4 ii:.:::: 18 25 2.82 2.71 2.86 2.95 June 5 12 19 26... 3.00 3.00 3 00 2 96 Nov 4 11 18 25 4 00 4.00 4 00 4 00 Oct 5 12 19 26 2.86 3.00 1.93 2.00 SeDt 6 13::.::: 20 27 1.32 2.36 1.86 1 96 Aug. 1 8 15 22 29 2.75 2.89 3.00 2.89 2 93 July 3... 10 17... 24 31 3.00 2 98 3 04 2 64 3 41 Dec 2 9 16 23 30 3 96 4 00 4 00 4 00 4.00 Nov 2 9 16 23 30 2.86 2.96 2.82 2.32 1.50 Oct 4 11 18 25 1.64 2.43 2.64 2.36 Sent 5 12":::: 19 26 2.96 3.00 2.89 2.79 Aug 7 14 . 21 28... . 3 3 3 3 I960 j a n 6 13 20 27 4.00 4.00 4.00 3.96 Dec. 7 14 21 28 1.64 1.79 2.14 1.89 Nov 1 8 15 22 29 2.14 2.75 2.75 2.79 2.29 Oct 3 10 17 24 31 2.89 2.82 3.00 2.89 2.82 Sept 4 11... 18 25 3.50 3 50 3.43 3 48 Feb 3 10 17 24 4 00 3.96 4 00 3 89 1961 Jan 4 11 18 25 2.50 1.62 1.96 .66 Dec 6 13 20 27 2.25 1.61 2.36 2.86 Nov 7 14 21 28 2.95 3.00 2.96 2.89 Oct 2... 9 16. . 23 30 3.50 3 48 3 50 3 50 3 50 Mar 2 9 16 23 30 4 00 3 96 ... 3.96 3.54 3.82 Feb 1 8 15 22 1.36 2.25 2.79 2.54 2.61 2 00 2.79 1.47 2.14 Dec 5 12 19 26 2.79 2.88 2.98 3.00 Nov 6 13 20 27 3 50 3 43 3 50 3.50 Apr 6 13 20 27 3.93 3.96 3.82 3 93 Mar. 1 8 15 22 29 2.50 2.61 2.00 1.82 1.61 Feb 7 14 21 28 2.04 2.61 2.36 2.47 2.90 2.77 3.00 2.95 2 98 Dec 4 . 11 18 25 3 3 3 3 May 4 11 18 25 4 00 4.00 3 89 3.79 Aor 5 1.79 2.11 1.64 1.14 Mar 7 14 21 28. ... 2.68 2.71 2 69 2.88 ii:•::.: 19 26 1962—Jan 3 10 17 24 . 31 49 1963—Jan. 2 9 . 16 23 30 Feb 6 13 20 27 3.00 3.00 3 00 3.00 50 46 50 48 32 16 50 50 7. YIELDS ON SHORT-TERM U.S. GOVERNMENT TAXABLE SECURITIES A. ANNUALLY AND MONTHLY, 1941-63 [Per cent per annum] 3-month bills * Rate on new issue Year 6-month bills Market yield Rate on new issue 9- to 12-month issues Other 2 Bills (market yield) Market yield 3- to 5year issues 1941. 1942. 1943. 1944. .103 .326 .373 .375 .13 .34 .38 .38 .75 .79 .73 1.46 1.34 1.33 1945. 1946. 1947. 1948. 1949, .375 .375 .594 .040 .102 .38 .38 .61 1.05 1.11 .81 .82 .88 .14 .14 1.18 1.16 1.32 1.62 1.43 1950. 1951. 1952, 1953, 1954, .218 .552 .766 .931 .953 1.20 1.52 1.72 1.90 .94 .26 .73 .81 2.07 .92 1.50 1.93 2.13 2.56 1.82 1955. 1956, 1957. 1958, 1959, 1.753 2.658 3.267 1.839 3.405 1.73 2.62 3.23 1.78 3.37 3.832 3.79 1.89 2.83 3.53 2.09 4.11 2.50 3.12 3.62 2.90 4.33 1960, 1961, 1962. 1963. 2.928 2.378 2.778 3.157 2.87 2.36 2.77 3.16 3.247 2.605 2.908 3.253 3.20 2.59 2.90 3.25 3.55 2.91 3.02 3.28 3.99 3.60 3.57 3.72 3-month bills l 3-month bills 9- to 12month 3- to 5year issues 9- to 12month issues 3- to 5year issues .78 .78 .80 .78 .77 .79 .77 .76 .79 .80 .81 .80 1.30 1.32 1.36 1.36 1.35 1.34 1.31 1.30 1.31 1.35 1.34 1.35 1945—Jan.. Feb., Mar. Apr.. May. June. July. Aug., Sept. Oct.. Nov. Dec. .78 .77 .78 .77 .80 .81 .80 .82 .84 .83 .84 .84 1.31 1.22 1.18 1.14 1.16 1.16 1.16 1.17 1.19 1.17 1.14 1.13 1946—Jan.. Feb.. Mar. Apr.. May. June. July. Aug., Sept. Oct.. Nov. Dec.. .79 .76 .79 .81 .83 .83 .84 .84 .85 .83 .84 .85 1.06 .99 .96 1.10 1.16 1.15 1.15 1.19 1.27 1.29 1.28 1.30 Rate on new issue Market yield 1941_Jan.. Feb.. Mar. Apr.. May. June July. Aug. Sept. Oct.. Nov. Dec.. .089 .092 .082 .089 .097 .108 .055 .049 .242 .298 .02 .04 .11 .10 .11 .12 .12 .13 .10 .09 .28 .33 .76 .81 .84 .81 .72 .68 .67 .62 .62 .72 .98 1.10 1944—Jan.. Feb. Mar. Apr., May June July. Aug. Sept. Oct.. Nov. Dec. 1942—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec.. .213 .250 .212 .299 .364 .363 .368 .370 .370 .372 .371 .363 .27 .25 .25 .32 .37 .37 .38 .80 .76 .75 .80 .80 1.05 1.02 1.02 1.06 1.11 1.41 1.45 1.47 1.47 1.48 1.49 1.48 1943—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec.. .367 .372 .373 .373 .373 .374 .374 .375 .375 .375 .375 .375 .76 .73 .75 .78 .78 .70 .68 .75 .77 .78 .77 .77 1.43 1.41 1.40 1.39 1.36 1.32 1.30 1.29 1.31 1.31 1.29 1.30 Month T I .38 Month For notes see p. 60. 3.41 2.81 3.01 3.30 50 Rate on new issue Market yield .374 .375 .38 T .375 .375 T is 7. YIELDS ON SHORT-TERM U.S. GOVERNMENT TAXABLE SECURITIES — Continued A. MONTHLY, 1941-63 — Continued [Per cent per annum] 3-month bills Month Rate on new issue Market yield 3-month bills 9-to 12month issues 3- to 5year issues .84 .85 .82 .83 .85 .85 .85 .85 .87 .97 .99 1.04 1.26 1.26 1.24 1.24 1.27 1.29 1.33 1.31 1.28 1.35 1.47 1.54 1.09 1.10 1.09 1.10 1.09 1.09 1.10 1.15 1.18 1.23 1.22 1.21 9-to 12month issues 3- to 5year issues 1.96 1.97 2.01 2.19 2.16 2.11 2.04 2.04 1.79 1.38 1.44 1.60 1.97 1.97 2.04 2.27 2.41 2.46 2.36 2.33 2.17 1.72 1.53 1.61 2.39 2.42 2.46 2.61 2.86 2.92 2.72 2.77 2.69 2.38 2.32 2.22 M^y! June. July. Aug., Sept. Oct.. Nov. Dec. 1.214 .984 1.053 1.011 .782 .650 .710 .892 1.007 .987 .948 1.174 1.18 .97 1.03 .96 .76 .64 .72 .92 1.01 .98 .93 1.14 1.33 1.01 1.02 .90 .76 .76 .65 .64 .89 1.03 .94 1.10 2.04 1.84 1.80 1.71 1.78 1.79 1.69 1.74 1.80 1.85 1.90 1.94 1.59 1.57 1.54 1.53 1.49 1.42 1.26 1.26 1.34 1.38 1.37 1.37 1955_jan.. Feb.. Mar. Apr.. May. June. July. Aug., Sept., Oct.. Nov., Dec. 1.257 1.177 1.335 1.620 1.491 1.432 1.622 1.876 2.086 2.259 2.225 2.564 1.23 1.17 1.28 1.59 1.45 1.41 1.60 1.90 2.07 2.23 2.25 2.54 1.36 1.41 1.49 1.71 1.72 1.71 1.88 2.12 2.14 2.19 2.28 2.56 2.11 2.18 2.30 2.39 2.40 2.42 2.54 2.73 2.72 2.58 2.70 2.83 Rate on new issue Market yield 1953_jan.. Feb. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 2.042 2.018 2.082 2.177 2.200 2.231 2.101 2.088 1.876 1.402 1.427 1.630 1.63 1.63 1.60 1.58 1.51 1.49 1.56 1.65 1.69 1.71 1.69 1.64 1954—Jan.. Feb., Mar. Month 1947_Jan.. Feb.. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. .375 .376 .376 .376 .376 .376 .637 .744 .791 .841 .920 .948 1948—Jan.. Feb., Mar. Apr., May, June July. Aug. Sept. Oct.. Nov. Dec. .970 .994 .997 .997 .998 .998 .997 1.033 1.087 1.118 1.139 1.153 1949_Jan.. Feb.. Mar. Apr., May. June July. Aug. Sept. Oct.. Nov. Dec. 1.159 1.163 1.162 1.157 1.153 1.158 .980 1.022 1.061 1.043 1.061 1.102 1.17 1.02 1.04 1.07 1.05 1.08 1.10 1.22 1.22 1.22 1.20 1.19 1.20 1.04 1.07 1.08 1.09 1.09 1.10 1950—Jan.. Feb.. Mar. May! June, July. Aug. Sept. Oct.. Nov. Dec. 1.090 1.125 1.138 1.159 1.166 1.174 1.172 1.211 1.315 1.329 1.364 1.367 1.07 1.12 1.12 1.15 1.16 1.15 1.16 1.20 1.30 1.31 1.36 1.34 1.12 1.15 1.16 1.17 1.18 1.23 1.23 1.26 1.33 1.40 1.47 1.46 1.39 1.44 1.45 1.45 1.45 1.47 1.45 1.45 1.55 1.65 1.62 1.64 1956—Jan.. Feb.. Mar., Apr.. May. June. July. Aug.. Sept., Oct.. Nov., Dec. 2.456 2.372 2.310 2.613 2.650 2.527 2.334 2.606 2.850 2.961 3.000 3.230 2.41 2.32 2.25 2.60 2.61 2.49 2.31 2.60 2.84 2.90 2.99 3.21 2.50 2.38 2.43 2.83 2.83 2.69 2.62 3.01 3.17 3.07 3.15 3.33 2.74 2.65 2.83 3.11 3.04 2.87 2.97 3.36 3.43 3.29 3.49 3.65 1951—Jan.. Feb.. Mar. AprMay. June. July. Aug. Sept. Oct.. Nov. Dec. 1.387 1.391 1.422 1.520 1.578 1.499 1.593 1.644 1.646 1.608 1.608 1.731 1.34 1.36 1.40 1.47 1.55 1.45 1.56 1.62 1.63 1.54 1.56 1.73 1.47 1.60 1.79 1.89 1.85 1.79 1.74 1.70 1.71 1.74 1.68 1.77 1.66 1.67 1.86 2.03 2.04 2.00 1.94 1.89 1.93 2.00 2.01 2.09 1957_jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. 3.210 3.165 3.140 3.113 3.042 3.316 3.165 3.404 3.578 3.591 3.337 3.102 3.11 3.11 3.08 3.06 3.06 3.29 . 3.16 3.37 3.53 3.58 3.29 3.04 3.17 3.23 3.35 3.41 3.37 3.55 3.71 3.93 4.02 3.94 3.52 3.09 3.40 3.33 3.38 3.48 3.60 3.77 3.89 3.91 3.93 3.99 3.63 3.04 1952—Jan.. Feb.. Mar. 1.688 1.574 1.658 1.623 1.710 1.700 1.824 1.876 1.786 1.783 1.862 2.126 1.57 1.54 1.59 1.57 1.67 1.70 1.81 1.83 1.71 1.74 1.85 2.09 1.75 1.70 1.69 1.60 1.66 1.74 1.89 1.94 1.95 1.84 1.89 2.03 2.08 2.07 2.02 1.93 1.95 2.04 2.14 2.29 2.28 2.26 2.25 2.30 1958—Jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. 2.598 1.562 1.354 1.126 1.046 .881 .962 1.686 2.484 2.793 2.756 2.814 2.44 1.54 1.30 1.13 .91 .83 .91 1.69 2.44 2.63 2.67 2.77 2.56 1.93 1.77 1.35 1.21 .98 1.34 2.14 2.84 2.83 2.92 3.24 2.77 2.67 2.50 2.33 2.25 2.25 2.54 3.11 3.57 3.63 3.60 3.65 M^y! June. July. Aug. Sept. Oct.. Nov. Dec. .38 T .38 .66 .75 .80 .85 .92 .95 .97 1.00 T 1.00 1.06 1.09 1.12 1.14 1.16 1.17 51 7. YIELDS ON SHORT-TERM U.S. GOVERNMENT TAXABLE SECURITIES — Continued A. MONTHLY, 1941-63 — Continued [Per cent per annum] 6-month bills 3-month bills Other 2 3-to 5 year issues 4.31 4.83 4.69 4.54 4.99 3.26 3.38 3.56 3.66 3.92 3.97 4.30 4.32 4.80 4.65 4.70 4.98 3.86 3.85 3.88 4.03 4.16 4.33 4.40 4.45 4.78 4.69 4.74 4.95 4.74 4.30 3.61 3.55 3.58 2.74 2.71 2.59 2.83 2.73 2.66 2.50 4.95 4.45 3.68 3.83 4.01 3.10 3.03 2.82 2.86 2.92 2.87 2.64 4.93 4.58 3.93 3.99 4.19 3.35 3.13 2.89 2.99 3.01 2.99 2.79 4.87 4.66 4.24 4.23 4.42 4.06 3.71 3.50 3.50 3.61 3.68 3.51 2.496 2.601 2.591 2.493 2.436 2.546 2.457 2.670 2.689 2.702 2.686 2.875 2.47 2.60 2.54 2.47 2.44 2.54 2.45 2.66 2.68 2.66 2.70 2.88 2.63 2.75 2.76 2.74 2.72 2.80 2.79 2.91 2.88 2.90 2.90 2.97 2.70 2.84 2.86 2.83 2.82 3.02 2.87 3.03 3.03 2.97 2.95 3.03 3.53 3.54 3.43 3.39 3.28 3.70 3.69 3.80 3.77 3.64 3.68 3.82 2.72 2.73 2.72 2.73 2.68 2.73 2.92 2.82 2.78 2.74 2.83 2.87 2.965 2.955 2.883 2.838 2.789 2.804 3.085 3.005 2.947 2.859 2.875 2.908 2.94 2.93 2.87 2.83 2.78 2.80 3.08 2.99 2.93 2.84 2.89 2.91 3.19 3.21 2.98 2.90 2.91 2.89 3.17 3.10 2.99 2.90 2.94 2.94 3.08 3.11 2.99 2.94 2.98 3.02 3.23 3.13 3.00 2.90 2.92 2.95 3.84 3.77 3.55 3.48 3.53 3.51 3.71 3.57 3.56 3.46 3.46 3.44 2.91 2.92 2.89 2.90 2.92 2.99 3.18 3.32 3.38 3.45 3.52 3.52 2.962 2.970 2.950 2.988 3.006 3.078 3.272 3.437 3.494 3.573 3.648 3.667 2.96 2.98 2.95 2.98 3.01 3.08 3.31 3.34 3.50 3.58 3.65 3.66 3.00 3.00 2.97 3.03 3.06 3.11 3.40 3.50 3.57 3.61 3.67 3.69 2.97 2.89 2.99 3.02 3.06 3.17 3.33 3.41 3.54 3.59 3.70 3.77 3.47 3.48 3.50 3.56 3.57 3.67 3.78 3.81 3.88 3.91 3.97 4.04 Market yield Rate on new issue Market yield 2.837 2.712 2.852 2.960 2.851 3.247 3 243 3.358 3.998 4.117 4.209 4.572 2.82 2 70 2.80 2 95 2.84 3.21 3 20 3.38 4.04 4.05 4.15 4.49 3.097 3.166 3.159 3.277 3.368 3.531 3 885 3.840 4.626 4.646 4.585 4.915 3.09 3.12 3.13 3.27 3.32 3.52 3 82 3.87 4.70 4.53 4.54 4.85 4.436 3.954 3.439 3.244 3.392 2.641 2.396 2.286 2.489 2.426 2.384 2.272 4.35 3.96 3.31 3.23 3.29 2.46 2.30 2.30 2.48 2.30 2.37 2.25 4.840 4.321 3.693 3,548 3.684 2.909 2.826 2.574 2.803 2.845 2.650 2.530 M^y! June. July. Aug. Sept. Oct.. Nov. Dec. 2.302 2.408 2.420 2.327 2.288 2.359 2.268 2.402 2.304 2.350 2.458 2.617 2.24 2.42 2.39 2.29 2.29 2.33 2.24 2.39 2.28 2.30 2.48 2.60 1962—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 2.746 2.752 2.719 2.735 2.694 2.719 2.945 2.837 2.792 2.751 2.803 2.856 1963—Jan.. Feb.. Mar. 2.914 2.916 2.897 2.909 2.920 2.995 3.143 3.320 3.379 3.453 3.522 3.523 Month Rate on new issue 1959—Jan.. Feb.. Mar. Apr.. May. June, July. Aug. Sept. Oct.. Nov. Dec, I960—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 1961—Jan.. Feb.. Mar. M^y! June. July. Aug. Sept. Oct.. Nov. Dec. 1 For notes see p. 60. 9- to 12-month issues 52 Bills (market yield) 7. YIELDS ON SHORT-TERM U.S. GOVERNMENT TAXABLE SECURITIES Continued B. WEEKLY, 1941-63 [Per cent per annum] 3-month bills 3-month bills » Week ending— Rate on new issue Market yield 3-to 5-year issues 1941 02 I 25 Feb 1 8 15.. 22 000 .007 Mar 1 8 15 22 29 043 .086 .120 117 June 7 14 21 28 July 5 12 19 26 Aug. 2 . 9 Oct. 4.. 11 18 25 Nov. 1 8 . 15 22 . 29 Dec 6 13 20 27 Apr 4 11.. 81 86 84 83 17 24 31 Feb. 7 14.. 21 28 May 2 9 16.. .. . .. .08 .84 23 30 .055 .079 .093 .097 .08 .10 11 .86 .86 82 June 6 13.. . .12 77 .12 .12 .10 .10 .10 74 73 .73 72 .71 13 .13 .12 .10 70 67 .68 .68 22 .10 .67 Sept. 5 .094 106 .114 .116 .114 .12 .12 .12 M .12 .13 .68 .68 .68 .63 63 .64 .13 .13 .61 .60 .090 .071 .050 .037 .11 .10 .58 .58 .062 .002 .001 .024 .067 .151 .200 .258 .267 .242 .293 .295 .295 .310 .304 .119 .196 .231 .220 .250 .263 .266 20 27 July 4 11 18 25 . . AUK 8 1.. .. 8 15 . . 29 . . . 12 19.. .. 26 Oct 3 10 17 24 31.. . .63 .65 Nov. 7 14 . 21 28 .11 .66 .07 .06 .06 69 .72 .73 .15 .25 .28 .30 .30 .78 .91 98 .10 .08 .30 .33 .35 .35 1.02 1.02 1.06 1.13 1.11 1.12 - 1942 Jan 3 10 18 25.. .. .086 .097 .097 .098 31 13 20 27. 09 12 .14 11 79 80 82 81 21 28 .107 .100 .103 .066 May 3 10.. 17 24 30 02 .03 Mar 7 14 .097 .096 .069 .070 .069 19 26 Sept. 6 1 69 75 75 76 .065 Apr. 5 12....... 16. Rate on new issue Market yield 3-month bills 9-to 12month issues 3-to 5-year issues .35 .32 .24 .24 .25 .22 .23 .27 .25 1.10 [.07 1.06 1.04 1.02 [.03 1.02 1.02 1.02 222 229 195 203 25 .25 25 25 1 1 1 1 01 03 03 01 May 1 8 15. 221 264 281 317 25 .29 1 03 1.05 1 04 1.07 335 358 368 365 32 .34 35 38 .365 362 1.13 1.41 1 41 1.42 360 365 365 368 1.42 1 44 1.46 1.46 365 .366 365 369 372 372 .372 369 .83 78 367 76 .368 369 .370 .77 76 .77 .373 369 .78 77 373 76 .373 373 .73 72 373 373 Dec 5 . . 368 79 12 19 367 364 79 78 82 .363 19 .. 17 24 31 AUK. 7. Market yield 9-to 12month issues 3-to 5-year issues .. .. .363 .366 370 Feb 6.. . 13 20 27 .372 .373 .374 Mar 6 13 369 .371 81 80 .76 .75 72 373 27 .373 Apr. 3 10 .374 .374 .373 .371 i .38 53 79 .77 68 68 69 .69 .68 I 29 I 28 I 32 1.31 1.31 .74 73 75 .79 1.30 I 28 I 29 1.31 I 33 I 33 1.32 [ 31 375 1 77 76 .81 79 .79 [ 32 I 3i 1.32 [ 3i 1.30 .375 376 .375 .376 .78 77 .77 .75 1.30 I 30 1.29 1.29 375 375 .375 375 78 .77 .76 I 29 [ 29 1.31 [ 31 25 30 27 .. .. .. 11 18 25.. .. .374 T 77 I 32 I 32 1.31 1944 i 1.49 1 48 1.48 1.49 1 49 1.44 1.43 1.41 1 41 1 41 1.41 1.39 1.39 .75 .79 I 32 79 .77 75 .77 Dec 4 75 75 75 .74 73 71 72 .67 1 39 1 38 1 34 1.33 375 375 374 ii::::: 18. .. 1.47 1 47 1 49 1.39 1.40 1.42 1.42 .72 .73 1 1Q .375 Nov 6 13 20. 73 .75 369 375 78 81 80 77 .74 28 Jan 1 8.. 15 22 29 Feb 5.. .. 12 365 357 .374 374 38 | Sect 4 1.46 1.47 1.47 1.48 T 374 375 374 .374 .374 14 21. .373 .374 26 July 3. 10 372 373 372 373 374 374 374 12. 19.. .. Jan 2 9 . 16 23 30 24 29..... Oct 2 9. 16 23. 1943 17 .. 22 1.47 1 49 1.48 1.47 1.46 81 80 For notes see p. 60. 1 09 1 11 1.11 1 11 1.11 I .80 .79 20 Rate on new issue June 5 .371 .370 26.. .. Week ending— 1943 1942 Jan 4 11 18 23 Week ending— 1.39 1.40 1.39 1.38 26 Mar 4 11.. .. 18 25 Apr 1 8 15 22 29 May 6.. 13 20 27 .375 .373 .374 374 374 .77 .76 .77 78 79 .31 .29 1.29 1 31 32 374 374 375 | 78 77 .79 79 1 32 ] 32 1 32 ] 32 80 .79 \ 374 375 T 10 .375 .78 .77 .77 39 37 1.36 1.35 1.35 77 75 1 35 \ 34 .79 .79 .3 1.33 1 39 80 .80 June 3 17 24 33 1 33 .81 80 1.34 1 33 .78 .79 .79 .79 1.35 1 35 1.34 1 35 7. YIELDS ON SHORT-TERM U.S. GOVERNMENT TAXABLE SECURITIES — Continued B. WEEKLY, 1941-63 — Continued [Per cent per annum] 3-month bills Week ending— 3-month bills 9-to 3- to 5-year issues Week ending— .79 .78 .78 .77 .76 1.34 1.32 1.31 1.31 1.31 Sept. 1 . . . 8... 15... 22... 29... Aug. 5 . . 12.. 19.. 26.. .77 .77 .75 .75 1.30 1.30 1.30 1.30 Sept. 2 . . 1 .75 .79 .78 .78 .80 1.28 1.27 1.29 1.34 1.34 Nov. 3 . . . 10... 17... 24... Oct. 7 . . 14.. 21.. 28.. .375 .376 .376 .375 .80 .80 .80 .79 1.35 1.35 1.34 1.34 Dec. 1 . . . 8... 15... 22... 29... Nov. 4 . . 11.. 18.. 25.. T .81 .81 .81 .80 1.35 1.35 1.34 1.33 .80 .80 .80 .81 .81 1.35 1.35 1.35 1.36 1.36 Rate on new issue Market yield month issues 1944 July 1.. 8.. 15.. 22.. 29.. .38 T T Dec. 2 . . 9.. 16.. 23.. 30.. Jan. 6.. 13.. 20.. 27.. 1 .375 .80 .78 .79 .77 .373 .375 T 1.34 1.33 1.32 1.29 1.24 1.23 1.20 Week ending— .83 .84 .85 .85 .84 1.17 1.16 1.18 1.21 1.20 Nov. 2 . . . 9... 16... 23... 30... .376 .38 T T .84 .84 .82 .81 1.20 1.17 1.16 1.16 Dec. 7 . . . 14... 21... 28... .375 .376 1 .84 .84 .84 .84 1.17 1.15 1.13 1.13 .375 .375 .375 .375 .375 .85 .84 .83 .83 .84 1.14 1.13 1.12 1.15 1.14 .373 .375 .84 .82 .78 .77 Feb. 2 . . . 9... 16... 23... Rate on new issue Market yield 1.31 1.29 1.32 1.29 .374 .375 .376 .84 .84 .84 .83 1.29 1.28 1.27 1.24 Feb. 1 . . . 8... 15... 22... .85 .84 .85 .85 1.25 1.25 1.26 1.26 1.12 1.07 1.05 1.03 Mar. 1 . . . 8... 15... 22... 29... .85 .84 .83 .81 .81 1.27 1.27 1.25 1.23 1.21 .78 .77 .76 .75 1.03 1.01 1.00 Apr. 5 . . . 12... 19... 26... .81 .82 .83 .83 1.22 1.22 1.25 1.24 Mar. 2 . . . 9... 16... 23... 30... .76 .78 .79 .80 .81 .93 .92 .93 .97 .84 .85 1.02 May 3 . . . 10... 17... 24... 31... 1.26 1.27 1.28 1.27 1.26 Apr. 6 . . . 13... 20... 27... .80 .80 .80 .82 1.05 1.10 1.12 1.13 June 7 . . . 14... 21... 28... May 4 . . . 11... 18... 25... i .375 .83 .83 .83 .83 1.12 1.14 1.18 1.18 .376 .375 .375 .375 .375 .84 .83 .83 .83 .84 1946 Jan. 5 . . . 12... 19... 26... T .77 .78 .78 .78 .76 Apr. 7 . . 14.. 21.. 28.. .376 .375 .75 .76 .78 .79 .15 .15 .14 .14 June 1 . . . 8... 15... 22... 29... May 5 . . 12.. 19.. 26.. .79 .79 .80 .81 .14 .16 .17 .17 July 6 . . . 13... 20... 27... .376 .375 .375 .375 June 2 . . 16.. 23.. 30.. .81 .81 .81 .81 .80 .18 .17 .17 .14 .14 Aug. 3 . . . 10... 17... 24... 31... .376 .376 .376 .375 7.. 14.. 21.. 28.. .79 .78 .80 .82 .14 .14 .17 .19 .82 .81 .82 .83 .18 .17 .17 .19 9.. Aug. 4 . . 11.. 18.. 25.. i .375 i .38 yield 3-to 5-year issues .85 .85 .84 .85 .375 .375 .375 .375 .375 T ket month issues .376 .375 .375 .375 T Mar. 3 . . 10.. 17.. 24.. 31.. .18 .17 Mar- 1.27 1.27 1.27 1.28 1.30 T .77 .77 .77 .76 1.20 1.18 1.19 12- Rate on new issue .84 .84 .85 .84 .85 .38 i .375 .376 July month issues 1946 .375 Feb. 3 . . 10.. 17.. 24.. .25 9- to 3-to 5-year issues 12- 1945 .375 .375 .374 .375 9.. 16.. 23.. 30.. 3-month bills 9-to Oct. 6 . . . 13... 20... 27... 12- .96 i 1947 Jan. 4 . . . 11... 18... 25... T T i 1.26 1.27 1.32 1.32 i i .85 July 5 . . . 12... 19..'. 26... .376 .594 .737 .740 .38 .60 .75 .86 .86 .85 T T 1.17 1.15 1.12 1.15 1.16 Aug. 2 . . . 9... 16... 23... 30... .740 .740 .741 .741 .752 .75 .76 .84 .84 .84 .83 1.13 1.14 1.18 1.16 Sept. 6 . . . 13... 20... 27... .766 .789 .802 .808 .77 .79 .81 .82 .85 .87 .87 .87 .84 .84 .84 .83 .84 1.16 1.16 1.17 1.20 1.22 Oct. 4 . . . 11... 18... 25... .817 .827 .835 .855 .83 .84 .85 .86 .93 .96 .96 .98 Sept. 7 . . . 14... 21... 28... .85 .85 .85 .85 1.25 1.26 1.28 1.29 Nov. 1 . . . 8... 15... 22... 29... .873 .895 .912 .931 .940 .88 .90 .92 .93 .95 .98 .98 .98 1.00 1.01 1.42 1.45 1.47 1.47 1.49 Oct. 5 . . . 12... 19... 26... .85 .83 .83 .83 1.30 1.30 1.30 1.29 Dec. 6 . . . 13... 20... 27... .944 .948 .949 .951 .95 .95 .95 .96 1.04 1.04 1.03 1.04 1.49 1.48 1.55 1.61 T i .37 5 i .38 54 i i 1.33 1.32 1.33 1.33 1.33 1.33 1.33 1.29 1.27 1.27 1.28 1.28 1.28 1.29 1.30 1.33 1.37 7. YIELDS ON SHORT-TERM U.S. GOVERNMENT TAXABLE SECURITIES — Continued B. WEEKLY, 1941-63 — Continued [Per cent per annum] 3-month bills Week ending— 3-month bills 9- to month issues 3- to 5-year issues Week ending— .96 .96 .97 .98 .99 1.05 1.08 1.09 1.09 1.1.0 1.65 1.63 1.64 1.64 1.64 .99 1.10 1.10 1.09 12- Rate on new issue Market yield 3-month bills 9- to 9- to . 12month issues 3-to 5-year issues 1.16 1.16 1.15 1.16 1.18 1.18 1.18 1.18 1.47 1.44 1.45 1.45 1.169 1.179 1.177 1.174 1.17 1.16 1.15 1.14 1.23 1.45 1.46 1.47 1.47 July 1 . . . 8... 15... 22... 29.,. 1.172 1.174 1.168 1.173 1.174 1.14 1.16 1.15 1.16 1.16 1.23 1.22 1.23 1.23 1 1.49 1.48 1.45 1.45 1.44 1.46 1.43 1.42 1.41 Aug. 5 . . . 12... 19... 26... 1.174 1.174 1.173 1.247 1.16 1.16 1.16 1.26 1.23 1.23 1.23 [.30 1.45 1.44 1.45 1.44 month issues 3-to 5-year issues Week ending— 12- Rate on new issue Mar- Mar. 5 . . . 12... 19... 26... 1.163 1.162 1.162 1.162 1.17 1.17 1.17 1.17 1.22 1.22 1.23 1.23 1.58 1.56 1.54 1.52 1.64 1.64 1.62 1.63 Apr. 2 . . . 9... 16... 23... 30... 1.162 1.160 1.153 1.157 1.156 1.17 1.16' 1.16 1.17 1.17 1.23 1.21 1.20 1.20 1.19 1.52 1.53 1.54 1.53 1.52 1.62 1.62 1.60 1.58 May 7 . . . 14... 21... 28... 1.147 1.148 1.157 1.159 1.16 1.16 1.17 1.19 1.18 1.19 1.18 1948 ket yield Rate on new issue Mar- May 6 . . . 13... 20... 27... 1.166 1.166 1.165 1.167 June 3 . . . 10... 17... 24... 1.51 1.51 1.48 1.47 1949 ket yield 1950 Jan. 3 . . 10.. 17.. 24.. 31.. .952 .950 .976 .981 .990 Feb. 7.. 14.. 21.. 28.. .990 .994 .996 .997 Mar. 6.. 13.. 20.. 27.. .997 .997 .996 .996 Apr. 3 . . 10.. 17.. 24.. .996 .997 .998 .997 1.09 1.10 1.10 1.10 1.59 1.58 1.57 1.58 June 4 . . . 11... 18... 25... 1.159 1.158 1.158 1.158 1.17 1.21 1.20 1.20 1.21 May 1.. 15.. 22.. 29.. .997 .998 .998 .997 .997 1.10 1.10 1.09 1.07 1.08 1.58 1.57 1.54 1.47 1.47 July 2 . . . 9... 16... 23... 30... 1.158 1.052 .923 .928 1.017 1.14 1.01 1.00 1.01 1.03 1.16 1.04 1.02 1.03 1.06 1.36 1.26 1.25 1.26 1.27 Sept. 2 . . . 9... 16... 23... 30... 1.285 1.308 1.311 1.317 1.324 1.29 [.30 1.30 1.30 1.31 1.32 1.33 1.33 1.33 1.34 1.48 1.51 1.54 1.55 1.59 June 5.. 12.. 19.. 26.. .997 .998 .998 .998 1.09 1.09 1.09 1.09 1.46 1.46 1.47 1.52 Aug. 6 . . . 13... 20... 27... 1.032 1.007 1.017 1.031 1.04 1.02 1.04 1.05 1.05 1.06 1.06 1.08 1.28 1.24 1.25 1.26 Oct. 7 . . . 14... 21... 28... 1.324 1.337 1.337 1.316 1.32 1.33 1.30 [.29 1.35 1.35 1.40 1.45 1.60 1.64 1.68 1.66 July 3 . . 10.. 17.. 24.. 31.. .997 1.54 1.55 1.55 1.57 1.59 Sept. 3 . . . 10... 17... 24... 1.054 1.055 1.058 1.062 1.06 1.06 1.06 1.07 1.08 1.08 1.08 1.08 1.25 1.24 1.37 1.38 Nov. 4 . . . 11... 18... 25... 1.341 1.350 1.366 1.380 1.33 1.34 1.35 1.37 1.47 1.47 1.47 1.47 1.64 1.62 1.60 1.62 i 1.09 1.10 1.10 1.10 1.10 Aug. 7.. 14.. 21.. 28.. i .997 1.066 1.072 1.00 1.05 1.08 1.09 1.10 1.16 1.16 1.17 1.61 1.66 1.66 1.67 Oct. 1 . . . 8... 15... 22... 29... 1.076 .059 1.050 1.027 1.036 1.08 1.05 1.05 1.03 1.05 1.09 1.08 1.09 1.08 1.09 1.39 1.37 1.39 1.39 1.38 Dec. 2 . . . 9... 16... 23... 30... 1.383 1.366 1.351 1.368 1.382 1.38 1.32 [.31 1.35 1.37 1.46 1.46 1.46 1.47 T 1.63 1.64 1.63 1.65 1.65 Sept. 9 . . 11.. 18.. 25.. 1.075 1.076 1.083 1.092 1.08 1.08 1.09 1.10 1.17 1.17 1.17 1.18 1.66 1.68 1.69 1.70 Nov. 5 . . . 12... 19... 26... 1.063 1.074 [.056 1.052 1.08 1.08 1.05 1.07 1.10 1.10 1.08 1.09 1.37 1.36 1.36 1.38 1951 Jan. 6 . . . 13... 20... 27... Feb. 3 . . . 10... 17... 24... 1.381 1.387 1.391 1.389 1.391 1.391 1.391 1.390 .32 .36 .32 .35 1.47 1.66 1.67 1.66 1.66 .38 .36 .36 .36 1.61 1.61 1.59 1.59 1.67 1.68 1.67 1.67 8.. 1.00 T i T 16.. 23.. 30.. 1.109 1.114 1.118 1.118 1.120 1.12 Nov. 6.. 13.. 20.. 27.. 1.129 1.138 1.141 1.147 1.15 Oct. 2 . . 9.. Dec. 1 14 . . 1.150 ii.. i i ^"y 1.1DZ 18.. 25.. 1.153 1.154 T .11 .11 .12 .13 .14 .14 .14 .14 L. i1 Va J T 1.20 1.23 1.70 1.71 1.71 1.71 1.72 i 1.22 1.72 1.71 1.67 1.69 .21 1.67 T 1.23 .22 15.. 22.. 29.. 1.. 1.157 1.155 1.160 1.160 1.160 Feb. 5 . . 12.. 19.. 26.. 1.161 1.163 1.163 1.164 8.. 1.11 1.11 1.10 1.09 1.09 1.38 1.37 1.37 1.36 1.37 Jan. 7 . . . 14... 21... 28... 1.081 1.076 1.101 1.103 1.06 1.06 1.07 1.08 1.10 1.10 1.13 1.13 1.35 1.36 1.39 1.42 Mar. 3 . . . 10... 17... 24... 31... 1.390 1.406 1.402 1.405 1.507 .37 .37 .35 .38 .50 1.60 1.72 1.79 1.80 1.94 1.69 1.78 1.86 1.92 2.03 1950 1.65 1.64 Feb. 4 . . . 11... 18... 25... 1.118 1.119 1.131 1.132 1.11 1.11 1.12 1.12 1.14 1.14 1.15 1.15 1.44 1.43 1.45 1.44 Apr. 7 . . . 14... 21... 28... 1.517 1.528 1.529 1.506 .48 .50 : .46 .44 1.90 1.91 1.96 1.82 2.03 2.02 2.05 2.00 1.63 1.61 1.60 1.59 1.58 Mar. 4 . . . 11... 18... 25... 1.137 1.139 1.131 1.138 1.12 1.12 1.11 1.12 1.16 1.16 1.16 1.16 1.44 1.44 1.45 1.45 May 5 . . . 12... 19... 26... 1.508 1.566 1.626 1.591 .48 .56 .59 .55 1.75 1.89 1.90 1.84 2.02 2.07 2.05 2.01 Apr. 1 . . . 8... 15... 22... 29... 1.145 1.148 1.160 1.160 1.166 1.13 1.14 1.15 1.14 1.16 1.16 1.17 1.16 1.17 1.19 1.45 1.44 1.45 1.45 1.46 June 2 . , . 9... 16... 23... 30... 1.600 1.555 1.467 1.445 1.527 .54 .47 .36 1.85 1.79 1.76 1.78 1.82 2.02 2.00 1.98 2.01 2.02 T 1.12 1.12 1.11 1.09 1.09 .22 T X [.108 1.115 1.115 1.087 1.087 Dec. 3 . . . 10... 17... 24... 31... i &^ I.CO i 1.16 1.17 1.17 I "71 1.21 1949 Jan. T T 1 1.22 1.57 1.57 1.58 1.59 55 1.41 1.53 7. YIELDS ON SHORT-TERM U.S. GOVERNMENT TAXABLE SECURITIES — Continued B. WEEKLY, 1941-63 — Continued [Per cent per annum] 3-month bills 3-month bills Week ending— 9-to 12month issues 3-to 5-year issues Week ending— Sept. 6 . . . 13... 20... 27... 1.884 1.850 1.774 1.635 1.84 1.81 1.62 1.60 1.94 1.98 1.95 1.94 2.28 2.28 2.26 2.28 1.93 [.91 1.90 1.87 Oct. 4 . . . 11... 18... 25... 1.760 1.829 1.836 1.735 1.71 1.79 1.75 1.67 1.92 1.90 1.82 1.79 1.68 1.67 1.69 1.71 1.74 1.87 1.89 1.91 .93 1.98 Nov. 1 . . . 8... 15... 22... 29... 1.757 1.796 1.843 1.877 1.931 1.75 1.78 1.83 1.87 1.93 1.59 1.50 1.53 1.54 1.76 1.75 1.75 1.73 2.00 1.98 2.01 2.01 Dec. 2.049 2.091 2.138 2.228 1.617 1.610 1.619 1.585 1.55 1.57 1.58 1.52 1.72 1.68 1.68 1.68 2.01 2.01 2.00 2.03 1.609 1.632 1.700 1.725 1.865 1.58 1.63 1.69 1.74 1.88 1.68 1.70 1.73 1.79 1.90 2.00 2.02 2.03 2.10 2.24 Jan. 3 . . . 10... 17... 24... 31... Feb. 7,. 14.. 21.. 28.. 1.604 1.615 1.562 1.591 1.58 1.55 1.53 1.57 1.80 1.77 1.73 1.70 1.99 1.94 1.92 1.91 Aug. 4 . . 11.. 18.. 25.. 1.611 1.652 1.660 1.651 1.60 1.62 1.63 1.61 1.72 1.73 1.71 1.68 Sept. 1.. 8.. 15.. 22.. 29.. 1.645 1.646 1.646 1.644 1.647 1.62 1.63 1.63 1.62 1.63 Oct. 6.. 13.. 20.. 27.. t.646 1.576 1.615 1.593 Nov. 3 . . 10.. 17.. 24.. Dec. 1.. 8.. 15.. 22.. 29.. 1952 1.36 1.47 1.42 1.50 1.59 1.56 1.49 1.50 2.34 2.34 2.31 2.30 1.589 1.603 1.682 1.704 1.59 1.62 1.68 1.64 1.62 1.59 1.63 1.62 2.31 2.23 2.22 2.19 Jan. 2 . . . 9... 16... 23... 30... 1.574 1.314 1.336 1.208 .998 1.48 1.30 1.28 1.12 1.01 1.58 1.56 1.44 1.22 1.09 2.14 2.12 2.07 1.99 1.97 Feb. 6... 13... 20... 27... 1.031 .893 1.024 .986 .99 .91 .98 .98 1.04 .99 1.03 .96 .93 .87 1.82 1.74 Mar. 6 . . . 13... 20... 27... 1.059 1.066 1.056 1.030 1.03 1.04 1.02 1.03 1.09 1.09 1.01 .94 .85 .85 .77 1.74 Apr. 3 . . . 10... 17... 24... 1.063 1.013 1.066 1.027 1.03 1.00 1.04 .99 .92 .99 .94 .88 1.75 1.73 .74 1.70 Rate on new issue Market yield Nov. 7 . . . 14... 21... 28... 1.306 1.482 1.433 1.488 2.29 2.29 2.27 2.23 Dec. 5 . . . 12... 19... 26... 1.82 1.81 1.85 1.93 1.96 2.24 2.22 2.25 2.25 2.27 1954 2.01 2.07 2.13 2.22 2.00 2.02 2.04 2.06 2.26 2.26 2.32 2.36 2.191 1.986 2.124 2.097 1.961 2.03 1.99 2.05 1.91 1.92 1.99 1.96 2.01 1.96 1.97 2.36 2.37 2.41 2.38 2.40 7... 14... 21... 28... 2.031 1.993 1.976 2.070 1.95 1.93 1.96 2.07 1.99 1.94 1.95 2.02 2.41 2.39 2.42 2.46 1953 1952 1951 3- to 5-year issues Week ending— Market yield Market yield 9- to 12month issues 3-to 5-year issues Rate on new issue Rate on new issue July 3-month bills 9-to 12month issues 6... 13... 20... 27... 1953 Jan. 5.. 12.. 19.. 26.. 1.883 1.686 1.684 1.599 1.70 1.63 1.58 1.49 1.81 1.77 1.76 1.72 2.14 2.10 2.06 2.05 Mar. 7 . . . 14... 21... 28... 2.164 2.098 2.029 2.036 2.09 2.03 1.98 1.97 2.04 2.02 2.01 2.09 2.42 2.44 2.46 2.52 May 1 . . . 8... 15... 22... 29... .886 .773 .825 .813 .718 .82 .75 .80 .79 .71 .78 .69 .74 .82 .79 1.66 1.70 1.77 1.81 .86 Feb. 2.. 9.. 16.. 23.. 1.589 1.584 [.643 1.507 1.51 1.55 1.57 1.51 1.71 1.71 1.71 1.70 2.05 2.06 2.08 2.08 Apr. 4 . . . 11... 18... 25... 2.029 2.073 2.219 2.320 2.02 2.10 2.24 2.25 2.13 2.18 2.29 2.32 2.52 2.53 2.59 2.65 June 5 . . . 12... 19... 26... .714 .616 .633 .635 .69 .61 .63 .62 .81 .78 .75 .72 .86 1.81 1.78 1.74 Mar. 1.. 8.. 15.. 22.. 29.. 1.563 1.656 1.784 1.601 1.592 1.55 1.67 1.67 1.53 1.50 1.69 1.75 1.74 1.66 1.63 2.08 2.10 2.05 1.99 1.96 May 2 . . . 9... 16... 23... 30... 2.243 2.352 2.271 2.092 2.084 2.22 2.29 2.15 2.03 2.14 2.38 2.41 2.30 2.29 2.55 2.75 2.85 2.82 2.84 2.96 July 3 . . . 10... 17... 24... 31... .646 .671 .701 .731 .800 .65 .66 .72 .74 .78 .71 .69 .66 .63 .60 1.72 .68 1.67 1.70 1.72 Apr. 5 . . 12.. 19.. 26.. 1.598 [.629 1.650 1.616 1.49 1.57 1.58 1.59 1.60 1.59 1.59 1.62 1.95 1.96 1.90 1.91 June 6 . . . 13... 20... 27... 2.416 2.324 2.229 1.954 2.27 2.27 2.04 1.89 2.59 2.50 2.43 2.36 3.09 2.95 2.88 2.81 Aug. 7 . . . 14... 21... 28... .797 .892 .898 .983 .79 .91 .92 .99 .58 .63 .62 .69 .74 1.76 .74 .74 May 3 . . 10.. 17.. 24.. 31.. 1.691 1.710 1.725 1.694 1.728 1.65 1.68 1.67 1.65 1.70 1.63 1.67 1.67 1.65 1.67 1.92 1.94 1.94 1.94 1.97 July 4 . . . 11... 18... 25... 2.107 2.007 2.106 2.126 1.98 1.96 2.03 2.10 2.40 2.40 2.36 2.34 2.78 2.78 2.71 2.67 Sept. 4 . . . 11... 18... 25... 1.023 1.016 1.024 .986 1.03 1.02 1.02 .99 .80 .85 .89 .91 .75 .77 .79 .82 June 7 . . 14.. 21.. 28.. 1.737 1.753 1.626 1.682 1.73 1.71 1.58 1.74 1.69 1.72 [.74 1.81 1.99 2.02 2.05 2.09 Aug. 1 . . . 8... 15... 22... 29... 2.157 2.136 2.116 2.101 2.001 2.11 2.07 2.08 2.06 1.98 2.30 2.35 2.37 2.34 2.29 2.70 2.72 2.79 2.80 2.78 Oct. 2 . . . 9... 16... 23... 30... .984 .966 .966 1.009 1.007 .99 .94 .98 1.00 1.00 .97 .98 .99 1.06 1.08 .84 .83 .82 .86 .90 July 5.. 12.. 19.. 26.. [.788 1.793 1.810 1.850 1.75 1.77 1.81 1.84 [.85 .88 .88 1.91 2.09 2.11 2.12 2.16 Sept. 5 . . . 12... 19... 26... 1.961 1.953 1.957 1.634 1.94 1.96 .83 .63 2.30 2.28 2.19 2.07 2.78 2.77 2.73 2.65 Nov. 6 . . . 13... 20... 27... 1.023 .940 .931 .897 1.00 .90 .89 .92 1.06 .96 .85 .88 .92 .92 .89 .87 Aug. 2 . . 9.. 16.. 23.. 30.. 1.877 1.860 1.903 1.841 1.899 .86 1.85 1.81 1.79 1.87 .89 1.92 1.93 1.93 1.98 2.20 2.27 2.30 2.29 2.31 Oct. 3 . . . 10... 17... 24... 31... .583 1.397 1.438 1.372 1.220 .54 1.40 1.44 1.35 1.27 1.99 1.85 1.73 1.61 1.59 2.48 2.40 2.42 2.35 2.34 Dec. 4 . . . 11... 18... 25... 1.029 1.087 1.247 1.333 1.02 1.09 1.25 1.24 1.01 1.04 1.13 1.16 .91 .92 .94 1.96 56 7. YIELDS ON SHORT-TERM U.S. GOVERNMENT TAXABLE SECURITIES — Continued B. WEEKLY, 1941-63 — Continued [Per cent per annum] Rate on new issue Market yield 3-month bills 3-month bills 3-month bills Week ending— 9- to 12month issues 3- to 5-year issues Week ending— Rate on new issue Market yield 9- to 12month issues 3-to 5-year issues Week ending— 1956 1955 9- to 12month issues 3-to 5-year issues 3.00 2.93 2.98 3.14 3.43 3.36 3.35 3.35 3.54 3.55 3.60 3.63 Rate on new issue Market yield May 4 . . . 11... 18... 25... 3.039 2.909 2.894 3.122 1957 Jan. 1.. 8.. 15.. 22.. 29.. 1.175 1.049 1.222 1.407 1.349 1.08 .09 1.28 1.32 .24 1.13 1.23 1.39 1.42 1.40 1.97 2.04 2.13 2.15 2.11 Mar. 3 . . . 10... 17... 24... 31... 2.409 2.173 2.374 2.422 2.173 2.24 2.24 2.36 2.26 2.19 2.47 2.42 2.44 2.42 2.42 2.71 2.75 2.81 2.89 2.94 Feb. 5.. 12.. 19.. 26.. 1.134 1.088 1.130 1.355 .11 .05 .16 .35 1.37 1.33 1.38 1.55 2.09 2.10 2.18 2.34 Apr. 7 . . . 14... 21... 28... 2.397 2.497 2.769 2.788 2.38 2.55 2.74 2.71 2.68 2.78 2.93 2.92 3.02 3.07 3.18 3.16 June 1 . . . 8... 15... 22... 29... 3.245 3.374 3.256 3.404 3.231 3.26 3.30 3.27 3.36 3.23 3.42 3.51 3.53 3.59 3.58 3.72 3.69 3.68 3.84 3.86 Mar. 5 . . 12.. 19.. 26.. 1.417 1.231 1.286 1.366 .29 .23 1.26 .30 1.56 1.50 1.48 1.44 2.35 2.33 2.26 2.26 May 5 . . . 12... 19... 26... 2.741 2.524 2.708 2.702 2.61 2.55 2.67 2.65 2.91 2.88 2.87 2.75 3.10 3.11 3.08 2.97 July 6 . . . 13... 20... 27... 3.238 3.171 3.092 3.158 3.19 3.13 3.04 3.18 3.66 3.68 3.70 3.74 3.82 3.83 3.90 3.98 Apr. 2.. 9.. 16.. 23.. 30.. 1.374 1.466 1.652 1.664 1.697 .37 .49 .63 .65 1.62 1.53 1.68 1.71 1.71 1.79 2.35 2.38 2.38 2.39 2.43 June 2 . . . 9... 16... 23... 30... 2.573 2.562 2.581 2.430 2.535 2.55 2.53 2.51 2.41 2.48 2.74 2.82 2.72 2.60 2.60 2.91 2.92 2.85 2.83 2.90 Aug. 3 . . . 10... 17... 24... 31... 3.363 3.308 3.498 3.354 3.497 3.34 3.29 3.40 3.32 3.47 3.79 3.83 3.98 3.96 3.99 3.91 3.91 3.97 3.91 3.87 May 7 . . 14.. 21.. 28.. 1.627 1.440 1.427 1.471 1.55 1.42 1.41 1.44 .75 1.71 1.70 1.70 2.41 2.39 2.38 2.41 July 7 . . . 14... 21... 28... 2.409 2.387 2.237 2.303 2.33 2.33 2.26 2.32 2.56 2.54 2.55 2.74 2.85 2.90 2.96 3.09 Sept. 7 . . . 14... 21... 28... 3.571 3.575 3.633 3.534 3.54 3.55 3.58 3.48 4.00 4.00 4.01 4.06 3.86 3.91 3.94 3.98 June 4 . . 11.. 18.. 25.. 1.434 1.390 1.514 1.420 1.37 1.41 1.47 1.37 1.74 1.71 1.71 1.68 2.40 2.40 2.38 2.43 Aug. 4 . . . 11... 18... 25... 2.378 2.399 2.603 2.818 2.29 2.40 2.64 2.82 2.85 2.92 3.00 3.10 3.19 3.26 3.37 3.43 Oct. 5... 12... 19... 26... 3.528 3.525 3.660 3.619 3.49 3.54 3.64 3.59 4.02 3.91 3.99 3.89 3.97 3.94 4.04 3.99 July 2.. 9.. 16.. 23.. 30.. 1.401 1.541 1.606 1.620 1.720 1.43 .51 .57 .61 1.71 1.71 .88 .87 1.85 [.92 2.48 2.48 2.49 2.55 2.64 Sept. 1 . . . 8... 15... 22... 29... 2.832 2.736 2.770 2.908 2.985 2.72 2.68 2.79 2.91 2.94 3.10 3.14 3.19 3.16 3.18 3.46 3.49 3.48 3.36 3.39 Nov. 2 . . . 9... 16... 23... 30... 3.622 3.571 3.473 3.145 3.158 3.59 3.50 3.38 3.12 3.14 3.90 3.77 3.54 3.34 3.38 4.01 3.91 3.80 3.43 3.32 Aug. 6.. 13.. 20.. 27.. 1.850 1.889 1.888 1.875 .88 .87 .84 1.90 2.12 2.12 2.07 2.11 2.75 2.70 2.69 2.72 Oct. 6... 13... 20... 27... 2.899 3.013 3.024 2.907 2.87 2.96 2.94 2.86 3.11 3.10 3.06 3.02 3.25 3.25 3.23 3.34 Dec. 7 . . . 14... 21... 28... 3.105 2.991 3.140 3.174 3.07 3.01 3.12 3.10 3.33 3.12 3.01 2.96 3.18 3.09 3.00 2.96 Sept. 3 . . 10.. 17.. 24.. 2.088 2.134 2.104 1.981 2.08 2.10 2.06 1.99 2.22 2.16 2.10 2.13 2.80 2.77 2.76 2.70 Nov. 3 . . . 10... 17... 24... 2.889 2.914 2.979 3.043 2.85 2.91 2.98 3.04 3.09 3.09 3.10 3.16 3.45 3.45 3.42 3.45 Oct. 1.. 8.. 15.. 22.. 29.. 2.122 2.214 2.257 2.333 2.231 2.11 2.21 2.26 2.25 2.21 2.15 2.20 2.21 2.20 2.17 2.61 2.57 2.56 2.60 2.60 Dec. 3.174 3.102 3.268 3.331 3.217 3.08 3.12 3.24 3.27 3.20 3.23 3.26 3.30 3.37 3.40 3.60 3.67 3.68 3.66 3.57 Nov. 5 . . 12.. 19.. 26.. 2.179 2.034 2.248 2.440 2.06 2.07 2.29 2.41 2.11 2.14 2.28 2.43 2.57 2.61 2.73 2.79 Dec. 2.450 2.471 2.591 2.618 2.688 2.41 2.48 2.54 2.63 2.58 2.44 2.47 2.51 2.62 2.73 2.80 2.81 2.83 2.84 2.87 5... 12... 19... 26... 3.262 3.197 3.223 3.085 3.14 3.08 3.09 3.10 3.38 3.23 3.14 3.09 Feb. 2 . . . 9... 16... 23... 3.283 3.132 3.057 3.182 3.16 3.05 3.01 3.15 3.. 10.. 17.. 24.. 31.. 1956 1... 8... 15... 22... 29... 1958 Jan. 4... 11... 18... 25... 2.752 2.858 2.591 2.587 2.77 2.75 2.57 2.37 2.84 2.73 2.59 2.52 2.84 2.79 2.74 2.77 Feb. 1... 8... 15... 22... 2.202 1.583 1.730 1.731 1.92 1.65 1.69 1.62 2.29 2.09 2.05 1.93 2.78 2.78 2.72 2.67 3.63 3.47 3.33 3.31 Mar. 1 . . . 8... 15... 22... 29... 1.202 1.351 1.532 1.343 1.189 1.22 1.39 1.39 1.33 1.11 1.69 1.76 1.77 1.85 1.73 2.54 2.53 2.53 2.50 2.45 3.11 3.15 3.24 3.29 3.34 3.27 3.29 3.36 Apr. 5 . . . 12... 19... 26... .148 .074 .225 .055 1.08 1.10 1.13 1.13 1.54 1.29 1.31 1.32 2.44 2.40 2.32 2.22 1957 Jan. Jan. 7.. 14.. 21.. 28.. 2.489 2.596 2.493 2.245 2.51 2.53 2.39 2.28 2.69 2.58 2.41 2.39 2.87 2.81 2.68 2.66 Mar. 2 . . . 9... 16... 23... 30... 3.288 3.246 3.238 3.041 3.034 3.25 3.18 3.15 3.00 2.97 3.29 3.33 3.38 3.35 3.35 3.38 3.29 3.37 3.39 3.38 May 3 . . . 10... 17... 24... 31... .367 .187 .112 .931 .635 1.23 1.11 1.02 .74 .58 1.39 1.33 1.26 1.13 1.01 2.30 2.29 2.26 2.23 2.20 Feb. 4.. 11.. 18.. 25.. 2.402 2.271 2.388 2.429 2.29 2.26 2.36 :L40 2.40 2.34 2.34 :2.41 2.65 2.63 2.63 2.67 Apr. 6 . . . 13... 20... 27... 3.050 3.154 3.194 3.054 3.03 3.13 3.11 3.02 3.36 3.41 3.44 3.44 3.42 3.46 3.49 3.51 June 7 . . . 14... 21... 28... .723 .841 .953 1 .006 .71 .83 .92 .90 .91 .91 .97 1.10 2.14 2.17 2.28 2.39 57 7. YIELDS ON SHORT-TERM U.S. GOVERNMENT TAXABLE SECURITIES — Continued B. 3-month bills Week ending— Rate on new issue Market yield 6-month bills Rate on new issue Market yield WEEKLY, 1941-63 — Continued [Per cent per annum] 9- to 12-month issues Bills (market yield) Other 2 3-month bills 3- to 5-year issues Week ending— 1958 6-month bills 9- to 12-month issues 3-to 5-year issues Rate on new issue Market yield Rate on new issue Market yield Bills (market yield) Other 2 3.889 3.979 4.166 3.958 3.95 4.02 4.13 3.98 4.468 4.473 4.796 4.766 4.48 4.55 4.82 4.77 4.64 4.72 4.95 4.83 4.69 4.73 4.91 4.78 4.71 4.73 4.86 4.79 4.194 4.007 4.262 4.099 4.022 4.10 4.02 4.24 3.99 4.00 4.895 4.678 4.666 4.490 4.499 4.80 4.59 4.65 4.45 4.37 4.95 4 69 4.82 4 66 4.54 4.88 4.75 4.77 4.53 4.47 4.82 4.76 4.72 4.58 4.65 4.137 4.089 4.332 4.279 4.03 4.04 4.20 4.24 4.437 4.534 4.744 4.625 4.42 4.50 4.57 4.62 4.42 4 43 4.55 4.66 4.62 4.62 4.73 4.80 4.70 4.71 4.75 4.78 4.501 4.638 4.535 4.670 4.50 4.48 4.49 4.57 4.891 4.969 4.834 4.940 4.86 4.81 4.77 4.90 4.98 4 97 4.96 5 01 4.93 4.99 4.98 5.00 4.90 4.92 4.95 5.00 4.516 4.602 4.590 4.436 4.116 4.40 4.59 4.53 4.27 4.01 4.942 5.099 4.989 4.665 4.608 4.91 5.07 4.81 4.60 4.49 5.02 5.15 4.96 4 92 4.76 5.00 5.11 5.00 4.87 4.75 4.99 4.97 4.91 4.81 4.80 4.039 3.563 4.045 4.168 3.94 3.67 4.04 4.14 4.501 4.094 4.294 4.396 4.42 4.08 4.30 4.34 4.56 4.41 4.41 4.39 4.61 4.41 4.63 4.63 4.69 4.61 4.64 4.70 4.278 3.641 3.451 3.033 3.92 3.60 3.41 2.84 4.458 4.024 3.619 3.176 4.27 3.87 3.57 3.17 4.31 3.97 3.56 3 27 4.55 4.14 3.84 3.47 4.58 4.35 4.17 4.02 2.792 2.731 3.622 3.306 3.317 2.88 2.96 3.56 3.34 3.19 3.187 2.927 3.854 3.705 3.705 3.21 3.18 3.86 3.73 3.58 3.32 3 30 3.91 4 17 4.08 3.69 3.57 4.23 4.17 4.14 4.11 4.06 4.25 4.32 4.34 3.003 3.274 3.793 3.497 3.08 3.32 3.50 3.29 3.349 3.521 4.000 3.867 3.41 3.55 3.77 3.64 4.01 4.05 4.09 3.75 4.11 4.08 4.34 4.26 4.37 4.35 4.51 4.48 3.184 2.716 2.292 2.613 2.94 2.61 2.31 2.39 3.495 2.871 2.497 2.877 3.18 2.80 2.52 2.76 3.56 3 23 2.90 3.04 3.87 3.47 3.15 3.29 4.24 4.12 3.99 4.01 2.399 2.307 2.567 2.307 2.404 2.18 2.27 2.41 2.31 2.24 2.806 2.805 3.175 2.625 2.701 2.64 2.85 2.87 2.62 2.56 2.95 3.03 3.07 3 12 2.92 3.20 3.23 3.18 3.12 3.00 3.99 3.87 3.76 3.67 3.54 2.131 2.215 2.278 2.518 2.13 2.18 2.31 2.43 2.409 2.458 2.621 2.806 2.39 2.48 2.66 2.70 2.81 2.79 2.83 2.81 2.86 2.84 2.93 2.90 3.49 3.52 3.52 3.47 1959 July 5 . . . . 12.... 19.... 26.... .768 .934 1.137 .988 .79 .95 .94 .88 1.13 1.25 1.44 1.36 2.45 2.51 2.57 2.50 Sept 5 Aug. 2 . . . . 9 16.... 23 30.... .984 1.165 1.524 1.895 2.162 .94 1.20 1.58 1.91 2.23 1.49 1.68 1.97 2.39 2.62 2.65 2 86 3.03 3.19 3.44 Oct 3 10 Sep.. 6 . . . . 20.... 27.... 2.462 2.359 2.605 2.511 2.32 2.37 2.45 2.48 2.76 2.81 2.83 2.85 3.56 3 56 3.55 3.56 Nov 7 14.. Oct. 4 . . . . 11 18.... 25 2.920 2.668 2.927 2.804 2.70 2.64 2.67 2.69 3.04 2.98 2.76 2.74 3.72 3 58 3.52 3 67 Dec 5 12 Nov. 1 . . . . 8 15.... 22.... 29.... 2.647 2.649 2.774 2.876 2.723 2.53 2.49 2.71 2.73 2.72 2.67 2.87 2.90 2.94 2.96 3.66 3 62 3.59 3.60 3.58 Jan Dec. 6 . . . . 13.... 20.... 27.... 2.806 2.805 2.904 2.739 2.79 2.82 2.82 2.71 3.081 3.095 3.017 3.04 2.96 3.30 3.30 3.27 3.18 3.63 3.61 3.65 3.68 Feb 6 . . . Jan. 3 . . . . 10.... 17.... 24 31.... 2.690 2.678 2.808 3.035 2.975 2.67 2.72 2.86 2.97 2.77 2.920 2.959 3.034 3.233 3.337 2.92 2.98 3.05 3.23 3.14 3.04 3.00 3.27 3.47 3.38 3.70 3.73 3.87 3 95 3.92 Feb. 7 14.... 21 28.... 2.721 2.810 2.726 2.589 2.70 2.72 2.63 2.76 3.107 3.326 3.253 2.978 3.12 3.20 3.07 3.13 3.44 3.40 3.33 3.34 3.94 3.92 3.77 3.77 Mar. 7 . . . . 14.... 21.... 28 2.816 3.062 2.763 2.766 2.84 2.85 2.77 2.76 3.111 3.375 3.058 3.093 3.14 3.15 3.09 3.11 3.51 3.63 3.59 3.53 3.78 3.88 3.89 3.94 May 7 Apr. 4 11 18.... 25.... 2.841 2.948 3.075 3.105 2.84 2.96 3.09 2.98 3.236 3.249 3.351 3.361 3.20 3.25 3.36 3.33 3.50 3.52 3.70 3.78 3.96 3.99 4.04 4.09 June 4 11 May 2 . . . . 9.... 16 23 30.... 2.831 2.935 2.722 2.869 2.878 2.81 2.83 2.76 2.85 2.92 3.189 3.316 3.408 3.376 3.373 3.17 3.29 3.35 3.32 3.36 3.80 3.86 3.93 3.97 3.93 4.08 4.10 4.18 4.17 4.18 July 2 June 6 13.... 20.... 27.... 3.149 3.283 3.276 3.281 3.15 3.27 3.24 3.22 3.489 3.565 3.486 3.585 3.47 3.51 3.47 3.59 3.99 3.97 3.88 3.98 4.28 4.31 4.33 4.36 July 4 . . . . 11 18.... 25.... 3.164 3.266 3.401 3.337 3.16 3.28 3.37 3.15 3.703 3.964 4.029 3.869 3.68 3.89 3.90 3.81 4.35 4.13 4.38 4.33 4.32 4.40 4.42 4.38 4.41 Sept. 3 10 17 24 2.550 2.520 2.654 2.434 2.53 2.56 2.58 2.43 2.825 2.802 2.916 2.743 2.82 2.83 2.87 2.80 2.87 2.87 2.89 2.82 2.93 2.98 3.03 2.98 3.51 3.51 3.53 3.47 Aug. 1 8.... 15.... 22.... 29.... 3.047 3.043 3.150 3.417 3.824 3.01 3.00 3.17 3.50 3.73 3.860 3.737 3.690 3.782 4.152 3.76 3.68 3.66 3.84 4.18 4.23 4.19 4.19 4.34 4.44 4.25 4.14 4.14 4.34 4.59 4.40 4.37 4.31 4.44 4.63 Oct. 1 8 15 22 29 2.286 2.473 2.698 2.406 2.129 2.35 2.40 2.54 2.23 2.11 2.729 2.925 3.079 2.806 2.569 2.82 2.88 2.88 2.71 2.53 2.87 2.92 2.95 2.99 2.85 2.99 3.05 3.07 3.02 2.93 3.50 3.60 3.65 3.62 3.57 12 19.. 26 17 24 31 21 28 19 26 1960 23 30 13 20.. . 27 1959 Mar. 5 12 19 26 Apr 2 9 16 23 30 14 21 28 18 25... 9 16 23 30 Aug For notes see p. 60. 2 9 16 58 -i3::::: 20 27 7. YIELDS ON SHORT-TERM U.S. GOVERNMENT TAXABLE SECURITIES — Continued B. WEEKLY, 1941-63 — Continued [Per cent per annum] 3-month bills 6-month bills Mar- yield Rate on new issue 2.127 2.390 2.624 2.396 2.20 2.40 2.46 2.38 2.326 2.328 2.334 2.222 2.148 Rate on new issue Mar- 9- to 12-month issues 3-month bills 3-to 5-year issues yield Bills (market yield) 2.50 2.59 2.75 2.71 2.82 2.85 2.91 2.87 2.84 2.86 3.08 3.08 3.59 3.63 3.69 3.72 2.35 2.28 2.25 2.24 2.18 2.640 2.663 2.621 2.392 2.333 2.70 2.62 2.50 2.42 2.38 2.86 2.77 2.63 2.56 2.50 3.05 2.93 2.76 2.74 2.61 3.75 3.59 3.49 3.46 3.40 2.234 2.385 2.358 2.230 2.28 2.28 2.25 2.17 2.429 2.602 2.530 2.422 2.48 2.51 2.46 2.42 2.56 2.57 2.71 2.66 2.67 2.72 2.74 2.65 3.39 3.52 3.59 3.57 2.299 2.374 2.462 2.496 2.29 2.35 2.40 2.51 2.497 2.566 2.652 2.688 2.49 2.55 2.59 2.68 2.68 2.71 2.73 2.83 2.72 2.76 2.87 2.93 3.57 3.56 3.56 3.48 2.594 2.485 2.352 2.278 2.56 2.44 2.35 2.28 2.779 2.674 2.455 2.471 2.75 2.56 2.47 2.45 2.86 2.76 2.71 2.71 2.99 2.91 2.82 2.78 3.49 3.36 3.44 3.45 2.392 2.470 2.360 2.292 2.186 2.38 2.36 2.31 2.25 2.23 2.576 2.658 2.556 2.458 2.300 2.54 2.58 2.52 2.41 2.35 2.78 2.75 2.68 2.77 2.76 2.86 2.92 2.82 2.79 2.81 3.43 3.45 3.40 3.38 3.32 2.300 2.232 2.264 2.354 2.22 2.23 2.29 2.39 2.417 2.423 2.435 2.470 2.38 2.40 2.43 2.53 2.69 2.66 2.70 2.80 2.76 2.75 2.82 2.91 3.23 3.15 3.24 3.43 2.438 2.516 2.295 2.325 2.38 2.40 2.32 2.31 2.593 2.727 2.492 2.519 2.60 2.64 2.50 2.50 2.82 2.83 2.78 2.78 2.98 3.02 3.01 3.02 3.56 3.69 3.67 3.74 2.219 2.305 2.322 2.200 2.244 2.27 2.31 2.25 2.19 2.22 2.399 2.486 2.512 2.385 2.446 2.45 2.49 2.46 2.39 2.46 2.77 2.80 2.72 2.81 2.83 3.01 2.98 2.88 2.82 2.84 3.71 3.69 3.72 3.66 3.68 2.300 2.366 2.519 2.503 2.28 2.38 2.50 2.43 2.557 2.617 2.765 2.793 2.51 2.64 2.78 2.71 2.85 2.93 2.95 2.89 2.85 3.02 3.11 3.09 3.74 3.86 3.83 3.77 2.321 2.392 2.328 2.262 2.233 2.34 2.32 2.29 2.26 2.25 2.617 2.692 2.685 2.681 2.697 2.65 2.67 2.68 2.69 2.69 2.90 2.89 2.88 2.87 2.87 3.06 3.06 3.05 3.03 2.98 3.77 3.81 3.80 3.76 3.70 2.302 2.389 2.382 2.325 2.28 2.34 2.29 2.29 2.683 2.684 2.734 2.708 2.64 2.67 2.68 2.67 2.83 2.84 2.97 2.94 2.91 2.96 3.02 2.97 3.65 3.67 3.66 3.62 2.280 2.349 2.516 2.537 2.28 2.40 2.53 2.54 2.613 2.554 2.721 2.734 2.58 2.61 2.74 2.73 2.88 2.87 2.93 2.91 2.91 2.89 2.96 2.99 3.61 3.63 3.70 3.69 2.606 2.625 2.579 2.670 2.594 2.56 2.58 2.59 2.61 2.66 2.806 2.867 2.874 2.915 2.845 2.78 2.88 2.89 2.86 2.90 2.91 2.97 2.97 2.95 3.02 2.98 3.03 3.02 3.04 3.04 3.73 3.82 3.84 3.81 3.81 Rate on new issue Mar- Jan. 6 . . 13.. 20.. 27.. Other 2 2.453 2.572 2.825 2.749 Week ending— ket ket 6-month bills Mar- yield Rate on new issue 2.703 2.823 2.770 2.688 2.72 2.78 2.73 2.67 Feb. 3 . . 10.. 17.. 24.. 2.705 2.695 2.759 2.849 Mar. 3 . . 10.. 17.. 24.. 31.. 9- to 12-month issues 3-to 5-year yield Bills (market yield) Other 2 2.941 3.073 2.970 2.875 2.96 3.02 2.90 2.89 3.06 3.12 3.27 3.25 3.07 3.13 3.09 3.04 3.79 3.83 3.87 3.85 2.69 2.70 2.81 2.74 2.939 2.898 2.952 3.031 2.92 2.92 3.00 2.93 3.26 3.24 3.26 3.18 3.04 3.06 3.14 3.20 3.88 3.83 3.78 3.73 2.664 2.721 2.804 2.689 2.719 2.69 2.74 2.74 2.70 2.73 2.847 2.883 2.972 2.854 2.857 2.87 2.88 2.91 2.84 2.86 3.10 3.05 3.02 2.93 2.90 3.09 3.04 3.02 2.96 2.93 3.62 3.60 3.61 3.49 3.50 Apr. 7. . 14.. 21.. 28.. 2.757 2.720 2.723 2.740 2.72 2.74 2.72 2.73 2.875 2.814 2.825 2.837 2.82 2.84 2.82 2.83 2.86 2.86 2.95 2.95 2.88 2.94 2.96 2.98 3.43 3.47 3.48 3.52 May 5 . . 12.. 19.. 26.. 2.748 2.720 2.646 2.700 2.74 2.67 2.67 2.69 2.845 2.816 2.744 2.795 2.83 2.77 2.77 2.77 2.94 2.90 2.91 2.92 2.97 2.91 2.99 3.04 3.52 3.47 3.55 3.57 June 2 . . 9.. 16.. 23.. 30.. 2.656 2.691 2.671 2.721 2.792 2.68 2.65 2.69 2.73 2.84 2.743 2.787 2.758 2.800 2.872 2.76 2.74 2.76 2.80 2.90 2.88 2.86 2.86 2.88 2.97 3.00 2.97 2.97 3.03 3.12 3.53 3.50 3.46 3.50 3.60 July 7 . . 14.. 21.. 28.. 2.930 2.974 2.983 2.892 2.92 2.97 2.95 2.88 3.008 3.096 3.133 3.103 3.00 3.09 3.13 3.09 3.06 3.12 3.26 3.22 3.18 3.22 3.27 3.25 3.66 3.71 3.73 3.71 Aug ket ket 1962 18.. 25.. Sept. 1. . 8.. 15.. 22.. 29.. 2.874 2.802 2.867 2.837 2.85 2.83 2.84 2.82 3.075 2.990 3.060 2.984 3.03 3.03 3.00 2.96 3.19 3.19 3.11 3.04 3.22 3.19 3.15 3.08 3.68 3.64 3.58 3.51 2.806 2.834 2.789 2.796 2.749 2.80 2.82 2.78 2.77 2.75 2.916 2.977 2.911 2.962 2.938 2.93 2.95 2.93 2.93 2.90 3.02 3.04 3.00 2.98 2.93 3.06 3.08 3.01 2.97 2.95 3.52 3.56 3.59 3.57 3.51 Oct. 6 . . 13.. 20.. 27.. 2.752 2.760 2.749 2.742 2.75 2.76 2.74 2.74 2.902 2.864 2.843 2.828 2.89 2.86 2.84 2.83 2.90 2.87 2.92 2.91 2.92 2.91 2.88 2.89 3.44 3.46 3.46 3.48 Nov. 3 . . 10.. 17... 24... 2.686 2.841 2.801 2.833 2.74 2.82 2.82 2.84 2.774 2.927 2.846 2.892 2.82 2.87 2.86 2.90 2.90 2.92 2.94 2.95 2.87 2.89 2.91 2.94 3.45 3.43 3.46 3.49 Dec. 1 . . . 8... 15... 22... 29... 2.853 2.861 2.807 2.861 2.894 2.86 2.85 2.84 2.88 2.89 2.936 2.945 2.861 2.901 2.924 2.94 2.91 2.88 2.90 2.93 2.97 2.94 2.93 2.94 2.95 2.95 2.97 2.94 2.94 2.96 3.48 3.48 3.44 3.41 3.41 Jan. 5 . . . 12... 19... 26... 2.926 2.920 2.884 2.923 2.89 2.90 2.90 2.93 2.966 2.966 2.932 2.976 2.94 2.95 2.95 2.99 2.95 2.96 3.00 3.03 2.99 2.99 2.96 2.97 3.44 3.45 3.44 3.50 Feb. 2 . . . 9... 16... 23... 2.917 2.946 2.944 2.905 2.93 2.95 2.93 2.90 2.972 2.995 2.995 2.969 2.99 3.00 2.99 2.96 3.02 3.02 3.01 2.99 2.95 2.89 2.87 2.88 3.50 3.47 3.46 3.46 1963 For notes see p. 60. if:: 59 7. YIELDS ON SHORT-TERM U.S. GOVERNMENT TAXABLE SECURITIES—Continued B. WEEKLY, 1941-63 — Continued [Per cent per annum] 3-month bills Week ending— 6-month bills 9- to 12-month issues 3-month bills Week ending— 3- to 5-year issues 6-month bills 9- to 12-month issues Market yield Rate on new issue Market yield Aug. 3 -10 17 24 31 3.263 3.253 3.335 3.355 3.396 3.24 3.26 3.32 3.36 3.39 3.398 3.389 3.441 3.462 3.494 3.38 3.39 3.43 3.47 3.49 3.46 3.48 3.50 3.52 3.54 3.30 3.28 3.36 3.51 3.54 3.77 3.77 3.80 3.83 3.85 3.53 3.54 3.59 3.59 **-il 3.384 3.343 3.409 3.379 3.36 3.36 3.41 3.38 3.487 3.460 3.522 3.507 3.47 3.48 3.51 3.51 3.56 3.57 3.58 3.56 3.54 3.54 3.54 3.53 3.88 3.88 3.89 3.88 3.00 3.00 3.03 3.10 3.56 3.54 3.55 3.59 Oct. 5 12 19 26 3.408 3.459 3.458 3.488 3.41' 3.45 3.47 3.44 3.515 3.569 3.568 3.628 3.53 3.56 3.59 3.60 3.59 3.60 3.61 3.62 3.57 3.56 3.58 3.62 3.88 3.90 3.91 3.93 Market yield Rate on new issue Market yield Mar. 2 9 16 23 30 2.870 2.897 2.870 2.902 2.919 2.90 2.89 2.88 2.90 2.91 2.922 2.938 2.931 2.955 2.977 2.94 2.93 2.94 2.96 2.98 2.98 2.97 2.95 2.97 2.99 2.93 2.99 2.97 2.99 3.01 3.50 3.49 3.49 3.51 3.53 Apr. 6 13 20 27 2.922 2.913 2.917 2.884 2.91 2.90 2.90 2.89 2.982 2.978 3.010 2.982 2.98 2.98 3.00 2.98 2.99 3.00 3.07 3.05 3.02 3.01 3.04 3.00 May 4 11 18 25 2.898 2.905 2.903 2.922 2.90 2.91 2.90 2.94 2.988 2.993 2.990 3.005 2.99 2.99 2.99 3.02 3.05 3.04 3.04 3.06 Bills (market Other 2 yield) Bills (market Other 2 yield) 3-to 5-year issues Rate on new issue Rate on new issue 1963 1963 .. 21 28 '.. June 1 8 15 22 29 2.974 3.028 2.975 2.997 2.979 2.98 3.00 2.98 2.98 2.99 3.055 3.098 3.063 3.081 3.070 3.06 3.08 3.07 3.08 3.07 3.09 3.12 3.11 3.11 3.11 3.17 3.21 3.18 3.15 3.14 3.64 3.68 3.66 3.68 3.67 Nov. 2 9 16 23 30 3.452 3.517 3.565 3.524 3.480 3.47 3.54 3.55 3.51 3.48 3.586 3.621 3.678 3.660 3.631 3.59 3.64 3.68 3.65 3.63 3.60 3.68 3.69 3.67 3.66 3.61 3.66 3.68 3.75 3.74 3.94 3.98 3.97 3.98 3.97 July 6 13. 20 27 3.011 3.164 3.192 3.206 3.03 3.22 3.19 3.19 3.093 3.272 3.355 3.369 3.12 3.34 3.36 3.36 3.16 3.39 3.48 3.47 3.20 3.35 3.40 3.35 3.72 3.80 3.80 3.79 Dec. 7 14 21 28 3.531 3.500 3.538 3.522 3.52 3.50 3.53 3.52 3.670 3.662 3.679 3.657 3.68 3.66 3.67 3.64 3.69 3.68 3.69 3.69 3.76 3.78 3.77 3.77 3.99 4.02 4.06 4.07 1 Tax exempt before March 1941. Certificates of indebtedness and selected note and bond issues. Negative yield. 2 3 60 8. BANK RATES ON SHORT-TERM BUSINESS LOANS A. PRIME RATE, 1929-63 [Per cent per annum] In effect during— Rate Effective date Effective date Rate Rate Rate Effective date 1929 5^-6 1947_Dec.i 1% 1953—Apr. 27 3% 1957—Aug. 6 4% 1930 1931. . 1932 1933 3^-6 2^-5 3^-4 li/2-4 1948—Aug. i 2 1954—Mar. 17 3 4 1950—Sept. 22 VA 1951—Jan. 8 Oct. 17 Dec. 19 l 1955—Aug. 4 Oct. 14 W4 3Vi 3% 1958—Jan. 22 Apr. 21 Sept. 11 1959—May 18 Sept. 1 Rate Effective date 4% 19341947 (Nov.) 1 2A i* 1956—Apr. 13 Aug. 21 I960—Aug. 23 4V4 l» Date of change not available. B. AVERAGE RATES ON BUSINESS LOANS, 1939-63 [Weighted averages based on new loans and renewals for first 15 days of month; per cent per annum] 19 large cities Year Size of loan (thousands of dollars) All loans 1-10 10-100 100200 200 and over Size of loan (thousands of dollars) All loans 1-10 10-100 100200 11 southern and western cities 7 northern and eastern cities New York City 200 and over Size of loan (thousands of dollars) All loans 1-10 10-100 100200 200 and over Size of loan (thousands of dollars) All loans 1-10 10-100 100200 200 and over 1939 2 1 44 3 1 2 1 1 8 1 8 20 25 1940 1941 1942 . 1943 1944 2.1 20 2.2 2.6 2.4 4.3 43 4.4 4.4 4.3 3.0 30 3.2 3.4 3.3 2.0 19 2.2 2.5 2.6 1.8 1 8 2.0 2.4 2.2 1.8 1 8 2.0 2.2 2.1 2.0 19 23 2.9 2.7 2.5 25 2.6 2.8 2.8 1945 1946 1947 . 1948 1949 2.2 2 1 2.1 2.5 2.68 4.3 42 4.2 4.4 4.60 3.2 3 1 3.1 3.5 3.65 2.3 22 2.5 2.8 2.97 2.0 1 7 1.8 2.2 2.38 2.0 18 1.8 2.2 2.37 4.20 3.40 2.73 2.19 2.5 21 22 2.6 2.71 4.66 3.65 2.95 2.48 2.5 25 26 2.9 3.10 4.75 3.79 3.15 2.64 1950 1951 1952 1953 1954 2.69 3.11 3.49 3.69 3.61 4.52 4.73 4.89 4.97 4.97 3.64 3.96 4.20 4.36 4.33 2.98 3.36 3.72 3.89 3.87 2.40 2.85 3.27 3.49 3.38 2.37 2.83 3.28 3.47 3.36 4.00 4.32 4.53 4.66 4.75 3.34 3.74 4.03 4.22 4.22 2.72 3.16 3.57 3.72 3.66 2.20 2.69 3.15 3.34 3.21 2.68 3.09 3.47 3.68 3.62 4.61 4.76 4.88 5.04 5.04 3.63 3.94 4.19 4.37 4.33 2.95 3.30 3.71 3.87 3.91 2.44 2.87 3.27 3.50 3.42 3.19 3.52 3.84 4.04 3.97 4.71 4.90 5.04 5.07 5.04 3.82 4.11 4.31 4.42 4.40 3.17 3.53 3.85 4.02 3.98 2.78 3.15 3.54 3.78 3.68 1955 1956 1957 1958 1959 3.70 4.20 4.62 4.34 5.00 4.96 5.21 5.52 5.49 5.78 4.39 4.75 5.12 4.99 5.45 3.95 4.41 4.81 4.58 5.19 3.49 4.03 4.46 4.14 4.86 3.47 4.04 4.47 4.12 4.84 4.78 5.09 5.39 5.29 5.62 4.30 4.71 5.06 4.86 5.35 3.79 4.33 4.71 4.38 5.08 3.33 3.92 4.36 3.99 4.75 3.70 4.22 4.63 4.34 5.01 5.03 5.29 5.54 5.52 5.76 4.39 4.78 5.12 4.97 5.46 3.94 4.40 4.81 4.55 5.17 3.52 4.08 4.50 4.18 4.90 4.03 4.42 4.83 4.67 5.23 5.01 5.24 5.57 5.56 5.85 4.43 4.76 5.14 5.07 5.51 4.06 4.46 4.86 4.72 5.29 3.75 4.19 4.62 4.41 5.04 I960 1961 1962 1963 5.16 4.97 5.00 5.01 5.96 5.87 5.88 5.87 5.66 5.53 5.54 5.54 5.36 5.20 5.24 5.22 5.01 4.80 4.83 4.84 4.97 4.76 4.78 4.79 5.77 5 65 5.63 5.63 5.54 5 38 5.35 5.36 5.21 5.05 5.10 5.05 4.87 4.64 4.67 4.69 5.15 4.98 5.01 5.01 5.91 5.84 5.85 5.85 5.63 5.50 5.53 5.55 5.35 5.19 5.20 5.23 5.03 4.85 4.87 4.87 5.45 5.28 5.32 5.30 6.07 5.98 6.00 5.98 5.75 5.63 5.66 5.65 5.47 5.30 5.36 5.33 5.26 5.06 5.09 5.09 8. BANK RATES ON SHORT-TERM BUSINESS LOANS — Continued B. AVERAGE RATES ON BUSINESS LOANS 1939-63 — Continued [Weighted averages based on new loans and renewals for first 15 days of month; per cent per annum] 19 large cities First half of month Size of loan (thousands of dollars) All loans Size of loan (thousands of dollars) All loans 1-10 10-100 100200 200 and 11 southern and western cities 7 northern and eastern cities New York City Size of loan (thousands of dollars) All loans 1-10 10-100 100200 1-10 200 and Size of loan (thousands of dollars) All loans 10-100 100200 200 and 1-10 10-100 100200 200 and 1939—Mar. June, Sept. Dec. 2.1 2.1 2.1 2.1 4.4 4.4 4.4 4.3 3.2 3.1 3.1 3.0 2.1 2.2 2.1 2.0 1.8 1.8 1.8 1.8 1940_Mar. June Sept. Dec. 2.0 1.9 2.1 2.2 4.2 4.2 4.3 4.3 3.0 3.0 3.0 3.1 1.9 2.1 2.0 1.8 1.8 1.6 1.9 1.9 1941—Mar. June Sept. Dec. 2.1 2.1 1.9 2.0 4.3 4.3 4.2 4.3 3.0 3.0 3.0 3.1 1.9 1.8 2.0 2.0 1.8 1.9 1.6 1.7 1942—Mar. June Sept. Dec. 2.0 2.1 2.4 2.4 4.3 4.4 4.4 4.4 3.0 3.2 3.2 3.3 2.0 2.1 2.2 2.4 1.7 1.8 2.2 2.1 1943—Mar. June Sept. Dec. 2.7 2.9 2.4 2.5 4.3 4.3 4.4 4.4 3.3 3.4 3.3 3.4 2.3 2.8 2.4 2.6 2.5 2.8 2.1 2.3 1944_Mar. June Sept. Dec. 2.5 2.5 2.5 2.3 4.4 4.2 4.4 4.3 3.4 3.4 3.3 3.1 2.7 2.5 2.6 2.5 2.2 2.3 2.3 2.0 1945—Mar. June Sept. Dec. 2.3 2.3 2.3 2.0 4.4 4.4 4.2 4.2 3.3 3.3 3.1 3.0 2.6 2.3 2.3 2.0 2.0 2.0 2.1 1.7 1946—Mar. June Sept. Dec. 2.1 2.0 2.0 2.1 4.1 4.2 4.0 4.4 3.1 3.1 3.1 3.2 2.3 2.2 2.1 2.1 1.7 1.7 1.7 1.8 1947—Mar. June Sept. Dec. 2.1 2.1 2.1 2.1 4.3 4.1 4.1 4.1 3.1 3.1 3.1 3.2 2.5 2.6 2.4 2.5 1.8 1.8 1.8 1948—Mar. June Sept. Dec. 2.4 2.47 2.60 2.64 4.2 4.49 4.53 4.50 3.3 3.47 3.58 3.58 2.5 2.70 2.92 2.97 2.1 2.16 2.29 2.34 2.12 2.32 2.34 4.35 4.40 4.23 3.19 3.35 3.40 2.43 2.68 2.70 1.94 2.13 2.16 2.49 2.60 2.68 4.42 4.55 4.51 3.40 3.58 3.60 2.67 2.91 2.97 2.27 2.34 2.44 2.92 3.01 3.02 4.60 4.57 4.62 3.68 3.71 3.68 2.91 3.07 3.14 2.45 2.56 2.57 1949—Mar. June Sept. Dec. 2.70 2.74 2.63 2.65 4.62 4.63 4.62 4.53 3.64 3.70 3.64 3.61 2.89 3.04 2.98 2.98 2.42 2.44 2.31 2.35 2.42 2.35 2.32 2.38 4.22 4.22 4.23 4.14 3.42 3.43 3.41 3.35 2.66 2.78 2.74 2.73 2.25 2.17 2.13 2.21 2.68 2.86 2.64 2.67 4.63 4.67 4.71 4.63 3.66 3.64 3.63 3.65 2.89 2.98 2.93 3.00 2.44 2.66 2.39 2.41 3.12 3.17 3.07 3.03 4.79 4.80 4.74 4.66 3.75 3.89 3.79 3.74 3.04 3.26 3.18 3.12 2.71 2.69 2.58 2.56 ON 1950—Mar.. June. Sept.. Dec. 2.60 2.68 2.63 2.84 4.45 4.50 4.51 4.60 3.54 3.65 3.63 3.73 2.94 2.94 2.95 3.10 2.31 2.39 2.34 2.57 2.29 2.34 2.32 2.51 3.85 3.94 4.06 4.17 3.22 3.35 3.33 3.44 2.64 2.73 2.72 2.80 2.13 2.16 2.15 2.35 2.55 2.67 2.63 2.87 4.64 4.58 4.56 4.64 3.60 3.62 3.59 3.70 2.91 2.82 2.87 3.18 2.28 2.45 2.39 2.65 3.12 3.22 3.13 3.28 4.64 4.70 4.71 4.78 3.71 3.83 3.83 3.91 3.15 3.17 3.15 3.21 2.74 2.82 2.67 2.90 1951—Mar.. June. Sept.. Dec. 3.02 3.07 3.06 3.27 4.68 4.73 4.74 4.78 3.88 3.93 3.99 4.05 3.27 3.32 3.36 3.49 2.76 2.81 2.78 3.03 2.74 2.78 2.79 3.01 4.20 4.37 4.35 4.37 3.68 3.66 3.72 3.91 3.06 3.06 3.18 3.34 2.59 2.64 2.64 2.87 3.02 3.04 3.06 3.23 4.74 4.68 4.81 4.81 3.86 3.90 3.97 4.04 3.23 3.28 3.24 3.46 2.81 2.83 2.82 3.03 3.42 3.52 3.47 3.67 4.87 4.90 4.89 4.95 4.01 4.10 4.17 4.15 3.41 3.52 3.55 3.62 3.06 3.14 3.04 3.35 1952—Mar.. June. Sept.. Dec. 3.45 3.51 3.49 3.51 4.85 4.90 4.91 4.88 4.16 4.21 4.22 4.21 3.66 3.72 3.74 3.77 3.24 3.29 3.27 3.29 3.23 3.27 3.29 3.33 4.43 4.53 4.66 4.51 3.97 4.03 4.06 4.06 3.48 3.55 3.60 3.63 3.11 3.14 3.15 3.19 3.47 3.46 3.44 3.49 4.91 4.90 4.85 4.85 4.16 4.17 4.20 4.21 3.67 3.71 3.72 3.74 3.29 3.27 3.24 3.29 3.79 3.90 3.84 3.84 5.01 5.05 5.04 5.06 4.28 4.33 4.31 4.30 3.79 3.86 3.82 3.91 3.46 3.63 3.56 3.51 1953—Mar.. June. Sept.. Dec. 3.54 3.73 3.74 3.76 4.89 4.98 5.01 4.98 4.25 4.38 4.40 4.39 3.75 3.91 3.93 3.96 3.32 3.53 3.54 3.57 3.31 3.52 3.52 3.51 4.55 4.63 4.76 4.70 4.13 4.25 4.25 4.25 3.55 3.79 3.76 3.77 3.17 3.39 3.40 3.38 3.50 3.71 3.71 3.79 4.95 5.07 5.08 5.07 4.24 4.38 4.45 4.40 3.74 3.87 3.91 3.96 3.30 3.54 3.52 3.63 3.90 4.05 4.10 4.10 5.02 5.09 5.10 5.06 4.31 4.46 4.46 4.46 3.91 4.02 4.06 4.09 3.62 3.79 3.86 3.86 1954—Mar.. June. Sept.. Dec. 3.72 3.60 3.56 3.55 4.99 4.97 4.99 4.92 4.37 4.35 4.32 4.29 3.94 3.89 3.82 3.84 3.52 3.37 3.32 3.31 3.50 3.34 3.29 3.30 4.79 4.75 4.81 4.66 4.27 4.24 4.21 4.15 3.75 3.71 3.54 3.64 3.37 3.19 3.13 3.15 3.74 3.61 3.57 3.55 5.06 5.04 5.07 4.99 4.36 4.31 4.34 4.31 3.97 3.83 3.94 3.89 3.57 3.42 3.36 3.33 4.03 3.98 3.95 3.90 5.05 5.05 5.03 5.01 4.43 4.43 4.39 4.36 4.03 4.05 3.91 3.93 3.76 3.67 3.68 3.60 1955—Mar.. June. Sept.. Dec. 3.54 3.56 3.77 3.93 4.93 4.92 4.98 5.01 4.29 4.29 4.44 4.52 3.83 3.83 3.99 4.14 3.30 3.33 3.56 3.75 3.29 3.30 3.54 3.76 4.68 4.73 4.83 4.86 4.14 4.18 4.39 4.48 3.65 3.62 3.87 4.00 3.14 3.15 3.39 3.64 3.55 3.55 3.76 3.95 5.02 4.97 5.06 5.08 4.32 4.29 4.43 4.52 3.84 3.78 3.99 4.16 3.35 3.37 3.58 3.79 3.87 3.95 4.11 4.17 5.00 4.98 5.01 5.06 4.35 4.34 4.47 4.54 3.92 4.01 4.07 4.22 3.54 3.67 3.88 3.91 1956—Mar.. June. Seot.. Dec. 3.93 4.14 4.35 4.38 5.05 5.18 5.30 5.32 4.55 4.69 4.86 4.90 4.13 4.34 4.52 4.63 3.74 3.97 4.19 4.20 3.75 3.97 4.20 4.22 4.92 5.00 5.26 5.18 4.49 4.61 4.84 4.88 4.05 4.23 4.46 4.57 3.62 3.86 4.09 4.10 3.93 4.15 4.39 4.40 5.11 5.26 5.36 5.41 4.55 4.74 4.88 4.94 4.10 4.32 4.53 4.63 3.78 4.01 4.26 4.25 4.19 4.38 4.53 4.58 5.09 5.23 5.29 5.35 4.58 4.71 4.85 4.90 4.20 4.42 4.54 4.66 3.94 4.15 4.32 4.35 1957—Mar.. June. Sept.. Dec. 4.38 4.40 4.83 4.85 5.38 5.37 5.67 5.66 4.94 4.94 5.29 5.29 4.59 4.61 5.01 5.01 4.21 4.23 4.69 4.71 4.23 4.23 4.69 4.71 5.26 5.24 5.54 5.50 4.92 4.86 5.24 5.23 4.47 4.49 4.93 4.94 4.11 4.12 4.60 4.62 4.40 4.39 4.85 4.86 5.41 5.39 5.69 5.67 4.91 4.94 5.31 5.33 4.61 4.61 5.01 5.02 4.26 4.25 4.73 4.74 4.60 4.65 5.01 5.05 5.42 5.42 5.72 5.73 4.96 4.99 5.31 5.31 4.64 4.70 5.05 5.04 4.35 4.43 4.81 4.87 1958—Mar.. June. Sept.. Dec. 4.49 4.17 4.21 4.50 5.55 5.45 5.45 5.49 5.10 4.88 4.90 5.06 4.75 4.40 4.47 4.68 4.29 3.95 4.00 4.33 4.29 3.88 4.00 4.29 5.42 5.18 5.19 5.38 5.02 4.72 4.74 4.94 4.60 4.13 4.28 4.52 4.17 3.74 3.87 4.18 4.49 4.17 4.21 4.50 5.60 5.48 5.48 5.53 5.08 4.85 4.90 5.05 4.72 4.39 4.42 4.66 4.33 3.99 4.03 4.36 4.77 4.58 4.54 4.79 5.60 5.56 5.55 5.53 5.17 4.99 4.99 5.12 4.87 4.57 4.63 4.79 4.49 4.31 4.23 4.59 1959—Mar.. June. Sept.. 4.51 4.87 5.27 5.53 5.68 5.91 5.09 5.33 5.65 4.74 5.06 5.43 4.32 4.72 5.15 4.29 4.71 5.15 5.30 5.55 5.79 4.93 5.24 5.60 4.56 4.97 5.36 4.18 4.61 5.07 4.49 4.90 5.27 5.54 5.67 5.88 5.06 5.33 5.69 4.71 5.06 5.42 4.35 4.78 5.17 4.84 5.07 5.44 5.62 5.74 5.97 5.20 5.37 5.65 4.87 5.13 5.50 4.60 4.87 5.29 SeptJ Dec.i 5.27 5.36 5.92 5.99 5.66 5.74 5.44 5.54 5.15 5.24 5.14 5.19 5.79 5.82 5.61 5.61 5.36 5.41 5.06 5.12 5.28 5.39 5.89 5.95 5.70 5.77 5.42 5.50 5.17 5.30 5.46 5.56 5.99 6.08 5.68 5.81 5.51 5.64 5.30 5.38 1960—Mar.. June. Sept.. Dec. 5.34 5.35 4.97 4.99 6.01 6.00 5.94 5.90 5.75 5.76 5.58 5.56 5.50 5.53 5.21 5.21 5.21 5.22 4.78 4.82 5.18 5.19 4.74 4.77 5.81 5.81 5.73 5.73 5.63 5.64 5.45 5.42 5.41 5.42 5.00 4.99 5.10 5.10 4.62 4.66 5.34 5.34 4.96 4.97 5.95 5.94 5.90 5.86 5.73 5.72 5.54 5.52 5.47 5.52 5.21 5.19 5.24 5.24 4.81 4.83 5.57 5.58 5.32 5.33 6.12 6.10 6.04 6.00 5.83 5.84 5.68 5.65 5.57 5.61 5.34 5.36 5.40 5.41 5.10 5.12 1961—Mar.. June. Sept.. Dec. 4.97 4.97 4.99 4.96 5.89 5.89 5.87 5.84 5.53 5.53 5.52 5.52 5.20 5.18 5.19 5.21 4.80 4.80 4.82 4.78 4.75 4.75 4.75 4.77 5.67 5.63 5.65 5.66 5.40 5.39 5.36 5.37 5.03 5.06 5.06 5.04 4.64 4.63 4.64 4.66 4.96 4.95 5.05 4.96 5.85 5.84 5.86 5.82 5.49 5.45 5.53 5.51 5.20 5.15 5.18 5.22 4.82 4.82 4.93 4.81 5.29 5.31 5.26 5.24 5.99 6.02 5.97 5.94 5.62 5.65 5.62 5.62 5.31 5.29 5.28 5.31 5.09 5.10 5.04 5.00 1962—Mar.. June. Sept.. Dec. 4.98 5.01 4.99 5.02 5.89 5.88 5.86 5.88 5.54 5.53 5.53 5.55 5.21 5.25 5.21 5.28 4.81 4.84 4.82 4.85 4.78 4.79 4.77 4.78 5.65 5.64 5.60 5.61 5.36 5.35 5.35 5.33 5.04 5.09 5.14 5.12 4.68 4.68 4.65 4.68 4.97 5.00 5.00 5.05 5.85 5.83 5.87 5.85 5.53 5.52 5.51 5.55 5.17 5.21 5.20 5.23 4.83 4.86 4.87 4.92 5.28 5.33 5.32 5.33 6.01 6.01 5.98 6.01 5.66 5.65 5.65 5.68 5.35 5.39 5.28 5.41 5.03 5.12 5.12 5.10 1963—Mar.. June. Sept.. Dec. 5.00 5.01 5.01 5.00 5.89 5.86 5.86 5.86 5.55 5.54 5.54 5.54 5.21 5.24 5.21 5.23 4.83 4.84 4.85 4.82 4.80 4.78 4.81 4.76 5.62 5.61 5.64 5.63 5.36 5.37 5.36 5.36 5.06 5.05 5.04 5.04 4.70 4.68 4.71 4.65 4.98 5.01 5.01 5.04 5.85 5.84 5.85 5.85 5.53 5.54 5.56 5.55 5.18 5.27 5.19 5.27 4.84 4.87 4.88 4.90 5.30 5.32 5.30 5.29 6.02 5.97 5.96 5.97 5.66 5.63 5.64 5.65 5.33 5.34 5.33 5.31 5.07 5.12 5.09 5.07 1 Coverage of Survey revised, in accordance with changes in the loan schedule of the call report of condition, to exclude loans to nonbank financial institutions. 9. COMMERCIAL PAPER AND BANKERS' ACCEPTANCES OUTSTANDING, 1941-52 [In millions of dollars] Dollar acceptances Based o n — Held b y Commercial paper End of month Goods stored in or shipped between points in— F.R. Banks Accepting banks Total Others Own Bills bought Own account Foreign correspondents Imports into United States Exports from United States Dollar exchange United States Foreign countries Total bills 168 164 170 170 164 161 65 65 63 66 60 59 55 47 46 47 51 54 45 48 47 49 51 52 115 119 120 126 125 123 16 18 24 25 24 24 49 121 22 3 47 16 50 46 114 105 21 13 3 4 49 45 11 9 47 109 12 4 48 11 50 49 116 116 14 15 5 4 48 48 12 11 3 2 2 1 51 44 45 48 43 52 45 41 41 40 39 38 11 13 16 14 13 4 11 11 10 12 12 14 38 41 39 38 37 36 35 33 12 12 10 11 12 12 10 11 1941—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 232 241 263 275 295 299 213 212 217 220 215 213 330 210 161 354 371 197 177 148 131 378 185 138 387 375 194 194 144 146 103 99 107 105 105 101 106 100 85 90 93 92 1942—Jan Feb Mar Apr May June July Aug Sent Oct Nov Dec 381 388 384 373 354 315 305 297 282 271 261 230 197 190 183 177 174 163 156 139 123 119 116 118 154 144 146 139 133 122 119 108 97 94 90 93 103 92 89 86 82 78 77 71 64 63 61 60 52 53 57 53 51 44 42 37 33 31 29 34 43 46 37 38 41 41 38 31 26 25 26 25 116 112 103 97 101 94 92 78 66 60 57 57 17 18 17 17 16 13 8 8 6 6 6 9 1943—Jan Feb Mar Apr May June July 220 209 201 179 160 143 150 156 120 127 130 128 136 140 139 130 95 102 101 99 105 102 102 94 35 38 39 38 40 40 38 36 33 39 35 38 24 25 29 29 31 38 36 36 57 60 69 71 79 82 81 77 12 14 12 9 8 10 12 10 33 69 7 30 11 27 23 27 67 59 66 9 11 11 29 31 30 10 9 9 9 11 7 8 7 3 3 1 44 42 41 38 41 43 26 26 25 23 22 20 170 117 84 188 203 202 115 111 117 88 88 90 60 64 62 61 65 62 64 59 50 48 53 52 209 214 195 172 151 137 143 141 141 142 167 166 120 135 129 126 113 112 110 110 111 115 115 129 94 106 100 96 90 87 88 82 85 85 84 93 55 57 52 51 49 44 46 44 42 40 44 44 38 49 48 45 41 43 41 38 43 45 40 50 27 29 30 29 24 25 23 28 26 30 32 35 71 83 79 77 71 74 72 75 78 79 74 86 12 12 12 12 10 11 12 10 11 13 14 14 29 32 31 30 28 24 24 22 19 21 24 25 7 4 3 2 3 3 2 4 3 162 157 147 130 126 128 98 97 96 86 87 87 13 12 11 25 24 25 5 4 4 117 104 90 82 26 22 81 72 10 9 24 22 2 2 101 107 107 117 80 90 27 26 74 81 10 9 20 22 3 4 AUE 110 128 101 28 91 10 25 2 Sept Oct Nov Dec 111 127 156 159 135 135 145 154 104 100 107 112 50 46 42 38 32 36 45 50 52 46 49 48 32 29 32 119 103 48 52 54 52 51 44 45 50 52 53 58 64 31 35 38 42 98 95 100 103 11 12 15 18 23 22 23 26 3 6 6 7 1946 Jan 174 166 126 Feb 178 172 149 167 163 169 128 119 109 126 177 108 121 131 142 148 202 227 228 192 205 207 200 204 208 227 109 118 140 151 154 155 169 71 74 64 65 66 65 67 68 68 71 73 74 55 53 55 44 42 45 51 72 82 82 82 94 AUK .. Sept Oct Nov Dec 1944—Jan Feb Mar Apr June . . July AUE . Sept Oct Nov Dec 1945 Jan Feb Mar Apr May June July . .. Mar Apr May June July AUE Sept Oct Nov Dec . .. 8 7 40 109 20 29 8 2 13 39 42 47 109 104 114 18 17 16 31 33 30 9 8 9 13 55 124 18 28 18 34 13 2 64 54 54 47 46 47 52 134 146 152 150 154 152 162 22 24 22 20 18 23 29 27 26 26 23 23 26 29 7 8 9 4 6 7 64 1 1 7 7 8 6 7 9. COMMERCIAL PAPER AND BANKERS' ACCEPTANCES OUTSTANDING, 1941-52 — Continued [In millions of dollars] Dollar acceptances Held b y - End of month Commercial paper Accepting banks Based on— F.R. Banks Total Total Own bills Bills bought Own account Foreign correspondents Others Imports Exports into from United United States States Dollar exchange Goods stored in or shipped between points in— United States Foreign countries 1947_j a n Feb.. . . Mar.... Apr... . May... June... July.... Aug Sept.... Oct Nov.... Dec.. . . 236 243 266 256 250 234 244 244 242 283 287 287 241 230 228 215 189 183 187 206 219 237 245 261 183 171 170 154 130 132 148 158 168 180 188 197 85 76 75 71 67 69 75 71 83 83 76 88 98 95 95 83 63 63 74 87 85 97 112 109 7 10 8 8 7 6 5 4 3 3 3 2 52 49 49 53 52 45 34 .44 44 52 54 62 172 164 158 140 118 111 115 133 140 144 147 159 35 35 36 42 45 46 45 47 42 54 61 63 27 24 27 25 21 20 21 20 24 23 25 25 7 7 8 5 6 7 6 11 10 9 11 1948—Jan Feb.. . . Mar.... Apr.. . . May... June... July.... Aug.... Sept Oct Nov.... Dec 290 301 311 275 254 270 284 309 305 285 287 269 262 253 241 242 256 253 235 221 214 221 239 259 188 174 162 151 161 142 134 122 120 125 141 146 85 79 70 71 71 61 67 60 65 67 71 71 103 94 92 80 90 81 67 62 55 58 70 76 4 5 4 3 3 3 2 70 74 75 88 91 108 100 98 93 94 97 109 168 168 151 143 155 155 151 143 136 140 152 164 53 43 48 54 57 56 47 40 37 42 48 57 27 24 23 19 19 19 19 20 20 20 24 25 13 17 17 22 21 20 18 17 20 17 15 12 1949_j a n Feb.. . . Mar.... Apr May. . . June... July.... Aug.... Sept Oct Nov.... Dec 268 268 257 249 219 199 211 230 265 278 278 257 262 228 215 204 195 198 194 189 207 215 251 272 137 114 98 88 84 87 90 85 94 104 118 128 66 65 58 59 58 54 57 53 54 57 60 58 70 49 40 28 27 33 33 32 40 47 58 70 3 4 5 6 5 5 3 3 4 4 123 111 112 110 105 106 101 101 109 107 125 133 156 134 127 119 118 121 117 117 133 140 173 184 57 51 51 46 44 47 44 37 37 39 44 49 25 23 22 20 17 17 19 18 21 23 25 30 13 14 14 17 12 13 13 16 14 12 9 9 1950—Jan Feb Mar.... Apr.. . . May... June... July.... Aug.... Sept Oct Nov Dec 258 257 258 257 250 240 259 286 308 312 325 333 280 256 245 237 231 279 335 374 397 383 383 394 134 120 100 93 93 126 155 174 187 168 166 192 67 69 63 62 59 82 87 103 103 100 104 114 68 51 37 31 34 44 68 71 84 68 62 78 6 5 6 8 16 24 24 24 21 137 128 137 138 133 148 173 184 187 191 193 180 190 175 165 157 142 170 211 238 264 243 234 245 49 45 45 47 58 66 80 87 79 85 88 87 32 25 23 18 15 21. 22 26 29 29 29 28 9 11 12 15 17 21 22 21 23 25 29 32 1951—Jan Feb Mar.... Apr.. . . May... June... July.... Aug Sept Oct Nov.... Dec.. . . 356 369 381 387 364 331 336 368 377 410 435 434 453 470 479 456 417 425 380 384 375 398 437 490 202 201 198 170 143 162 135 122 118 131 154 197 126 121 122 119 108 120 103 94 85 87 96 119 76 79 76 52 35 42 33 28 33 44 58 79 27 32 31 32 30 28 25 24 22 17 18 21 224 238 247 253 244 235 220 239 234 250 265 272 286 304 314 288 259 267 225 218 210 226 227 235 100 99 106 111 102 104 104 109 104 106 116 133 6 3 4 5 23 36 36 30 24 22 22 24 25 27 27 46 55 29 29 26 31 33 31 27 26 31 35 43 44 1952—Jan Feb Mar.... Apr May... June... July.... Aug Sept Oct Nov.... Dec 480 517 534 544 510 495 539 550 565 591 575 539 492 493 458 422 430 416 450 454 454 449 478 492 193 188 177 150 155 148 171 169 166 155 172 183 127 121 120 110 121 108 122 113 106 103 114 126 66 67 57 40 34 40 49 56 61 52 58 57 13 10 287 295 274 264 267 260 270 276 275 278 289 289 235 234 228 211 197 195 200 212 232 237 233 232 135 135 138 135 136 126 126 119 108 114 123 125 23 27 6 6 37 45 73 74 60 30 29 39 52 46 36 22 17 15 17 20 24 40 62 64 48 51 51 48 43 36 34 30 31 28 31 32 Note.—Data for 1948-63 are shown on a revised basis in Table 10. 1 2 2 3 9 9 13 16 17 20 65 I 1 11 6 2 2 2 10. COMMERCIAL AND FINANCE COMPANY PAPER AND BANKERS' ACCEPTANCES OUTSTANDING, 1948-63 [In millions of dollars] Dollar acceptances Commercial and finance company paper 3ased o n — I Held by— F.R. Banks Accepting banks End of period Total Placed Placed through directly dealers (finance paper) Total Others Total Own bills Bills bought Own account Foreign correspondents Imports Exports from into United United States States Dollar exchange G o o d s stored in or shipped between points i n — United States Foreign countries 674 838 277 270 397 568 259 272 146 128 71 58 76 70 3 11 109 133 164 184 57 49 1 25 30 12 9 921 1,333 1,749 345 449 552 576 884 1,197 394 490 492 192 197 183 114 119 126 78 79 57 21 21 20 180 272 289 245 235 232 87 133 125 2 23 39 28 55 64 32 44 32 1,835 1,881 1,914 1,907 1,873 z •• . *' 1,762 June.... 1,831 July .J 1,867 Aug 1,993 Sept 2,155 Oct Nov 2,198 Dec 1,973 519 523 518 477 454 417 440 463 487 548 595 564 1,316 1 358 1,396 1 430 1,419 1,345 1,391 1,404 1,506 1,607 1 603 1,409 487 490 468 455 417 428 435 478 515 517 534 574 159 158 149 115 111 123 131 148 159 160 170 172 111 110 105 78 85 92 108 108 110 122 125 117 48 48 44 36 26 30 23 40 49 38 45 55 22 28 29 32 29 30 25 25 26 23 20 24 306 289 309 277 276 279 304 329 334 344 378 225 234 237 229 198 214 213 211 237 227 246 274 120 114 110 115 111 112 115 128 135 145 139 154 43 57 39 43 37 35 40 64 66 56 49 29 65 53 49 37 39 32 32 36 40 56 59 75 34 32 32 31 32 35 35 38 38 34 41 43 17 10 13 17 14 14 9 5 6 14 19 19 373 350 369 379 374 355 376 360 344 402 437 565 266 238 247 270 277 246 225 205 207 207 248 285 157 151 139 142 143 143 136 134 139 148 164 182 45 44 47 38 36 60 92 75 85 72 42 17 73 71 107 127 115 96 91 101 130 205 247 300 46 41 39 46 45 43 46 47 48 55 66 89 1948.. 1949 1950 1951 1952 1953_j a n Feb Mar Apr May 304 1954—Jan.. . . Feb Mar Apr May.... June.... July Aug Sept Oct Nov Dec 2,162 2,317 2,301 2,222 2,176 2,159 2,217 2,237 2,201 2,056 2,041 1,933 635 716 735 694 641 679 747 794 803 762 769 733 1 527 1,601 1,566 1,528 1,535 1,480 1,470 1,443 1,398 1,294 1,272 1,200 586 545 580 623 616 589 589 563 609 687 768 873 195 185 198 228 227 220 205 198 259 271 313 289 144 149 149 165 171 164 164 155 178 217 241 203 51 36 50 63 56 56 41 43 81 55 71 86 1955_jan Feb Mar Apr May.... June July Aug Sept Oct Nov Dec 2,073 2,196 2,202 2,179 2,346 2,311 2,420 2,369 2,269 2,280 2,313 2,035 713 703 681 622 572 572 593 580 564 547 542 510 1,360 1,493 1,521 1,557 1,774 1,739 1,827 1,789 1,705 1,733 1,771 1,525 869 831 807 767 686 655 650 655 671 662 642 642 282 242 236 206 192 182 184 186 190 189 187 175 206 182 187 164 143 138 144 142 147 144 134 126 77 61 49 42 49 44 40 44 43 45 52 49 4 17 14 16 10 14 21 16 17 28 23 28 29 28 26 26 23 27 27 26 27 33 564 561 538 517 453 431 433 427 433 430 410 405 273 235 227 229 207 216 223 220 253 258 259 252 187 178 182 189 188 189 186 182 189 201 205 210 17 41 56 68 53 40 41 41 33 33 20 17 303 283 248 190 150 125 108 111 108 82 73 63 90 93 93 92 88 85 92 101 87 87 86 100 1956—Jan Feb Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. 2,385 2,658 2,584 2,552 2,641 2,465 2,649 2,566 2,515 2,639 2,679 2,183 573 588 560 508 515 476 509 548 549 573 568 506 1 812 2,070 2,024 2,044 2,126 1,989 2,140 2,018 1,966 2,066 2,111 1,677 624 667 660 628 643 684 723 772 805 843 924 967 169 184 170 146 157 180 175 189 209 203 242 227 124 135 130 108 113 109 111 120 127 135 167 155 44 49 40 39 44 71 64 70 82 69 75 72 18 14 14 13 16 18 18 22 17 20 33 69 32 37 39 42 45 45 48 51 49 53 52 50 406 431 436 427 424 441 483 510 529 567 598 621 237 263 263 235 245 264 270 271 294 277 277 261 220 234 236 240 252 251 237 259 258 281 295 329 11 20 18 10 9 9 13 21 17 19 10 2 46 43 49 43 33 34 74 97 113 133 199 227 110 106 94 100 104 125 129 124 123 133 143 148 2 620 2,763 2,696 2,540 M^y."!.'! 2,785 June.... 2,463 July.... 2,791 Aug 2,846 Sept 2,568 Oct 2,663 Nov 2,953 Dec 2,672 548 555 489 466 483 454 459 501 501 516 560 551 2 072 2,208 2,207 2,074 2,302 2,009 2,332 2,345 2,067 2,147 2,393 2,121 1 012 992 1,019 1,018 984 979 1,000 1,227 1,197 1,225 1,224 1,307 230 202 209 195 188 183 154 220 214 197 221 287 156 133 150 135 142 142 112 152 149 131 151 194 74 69 59 60 46 41 42 68 65 66 70 94 30 24 23 24 21 23 19 27 16 16 20 66 62 58 58 64 63 62 70 68 66 69 67 76 689 708 728 735 713 711 757 913 901 942 916 878 291 307 305 272 227 220 231 243 234 248 268 278 363 389 425 471 501 502 507 524 483 465 459 456 2 2 2 4 5 21 35 66 75 94 64 46 197 127 116 89 73 58 59 212 225 226 222 296 158 167 171 182 177 178 169 182 181 192 211 232 654 776 862 919 946 965 2,700 2,863 2,634 2,750 2,774 2,419 1,422 1,523 1,529 1,479 1,441 1,352 416 497 422 459 474 396 307 372 318 350 372 292 109 125 104 109 102 104 41 43 39 37 42 45 127 139 132 131 119 113 838 843 936 852 806 798 273 261 263 278 296 282 461 447 432 416 396 375 65 110 139 131 130 121 386 480 471 416 371 325 237 224 224 239 247 248 1957—Jan.. . Feb Mar 1958—Jan Feb Mar Apr May.... June.... 3,354 3,639 3,496 3,669 3,720 3,384 66 10. COMMERCIAL AND FINANCE COMPANY PAPER AND BANKERS' ACCEPTANCES OUTSTANDING, 1948-63 — Continued [In millions of dollars] Dollar acceptances Commercial and finance company paper ] Jased Held b y - End of month Placed through dealers Placed directly (finance paper) Goods stored in or shipped between points in— F.R. Banks Accepting banks Total Total Others Total Own bills on— Bills bought Own account Foreign correspondents Imports into United States Exports from United States Dollar exchange United States Foreign countries 1958—July Aug Sept Oct Nov Dec 3,639 3,383 3,158 3,307 i 3,203 i 2,739 966 981 958 961 940 840 2,673 2,402 2,200 2,346 12,263 11,899 1,353 1,363 1,281 1,255 1,209 1,194 426 416 385 347 290 302 328 340 319 273 234 238 98 75 65 73 55 64 34 33 28 36 34 49 108 91 75 71 75 68 785 824 792 802 810 775 269 256 236 246 251 254 380 385 355 354 348 349 141 131 136 117 94 83 313 337 319 296 265 244 251 254 235 242 251 263 1958—Nov Dec i 3,213 i 2,751 940 840 12,273 11,911 1,209 1,194 290 302 234 238 55 64 34 49 75 68 810 775 251 254 348 349 94 83 265 244 251 263 3,085 3,331 3,279 3,348 May!!!! 3,570 3,418 June 3,569 July 2 3,663 Aug 875 897 883 822 791 729 759 2 795 2,210 2,434 2,396 2,526 2,779 2,689 2,810 2,868 1,133 1,161 1,054 1,029 1,038 983 957 946 276 309 271 269 242 213 198 169 226 232 227 208 193 175 160 127 51 77 44 60 49 38 38 42 40 39 30 30 28 26 25 21 60 62 60 56 79 76 74 72 756 751 692 673 689 668 661 685 251 275 278 292 286 256 259 287 346 339 329 348 350 327 334 322 118 112 111 78 103 111 85 56 168 183 82 48 43 33 26 29 250 252 253 263 256 256 253 251 Aug Sept 2 3,762 3,448 3,914 3,778 3,202 2 894 858 859 864 677 2,868 2,590 3,055 2,914 2,525 946 954 945 1,029 1,151 169 205 182 232 319 127 158 145 187 282 42 47 36 44 36 21 20 28 34 75 72 67 62 71 82 685 662 673 693 675 287 316 304 355 357 322 301 290 283 309 56 45 36 46 74 29 46 81 119 162 251 246 234 226 249 4,032 4,226 4,495 4,450 4,719 4,627 4,827 5,105 4,728 5 262 5,304 4,497 757 810 906 1,003 1,023 1,115 1,213 1,365 1,361 1 493 1,505 1,358 3 275 3 416 3,589 3,447 3,696 3,512 3,614 3,740 3,367 3,769 3,799 3,139 1,229 1,240 1,366 1,336 1,263 1,382 1,561 1,656 1,668 1 753 1,868 2,027 230 218 250 320 310 311 404 424 392 501 628 662 193 170 178 247 237 229 299 316 284 356 454 490 36 48 72 73 74 82 104 108 108 145 175 173 42 35 33 30 29 30 29 33 42 39 48 74 124 119 153 167 161 182 180 204 204 196 227 230 833 868 929 819 763 859 948 996 1,031 1 017 '965 1,060 341 350 364 373 352 375 400 407 409 405 401 403 337 336 413 461 474 501 545 594 632 633 647 669 149 193 201 128 87 94 166 179 123 139 146 122 158 131 144 109 65 91 76 83 107 157 229 308 245 229 244 266 286 321 373 393 398 419 445 524 M*ay!!!! June.... July Aug Sept Oct Nov Dec 5,091 5,045 5,078 5,090 4,936 4,936 4,991 4,946 4,875 5 119 5,349 4,686 1,465 1,479 1,525 1,532 1,478 1,460 1,534 1,617 1,730 1 818 1,868 1,711 3,626 3,566 3,553 3,558 3,458 3,476 3,457 3,329 3,145 3 301 3>81 2,975 2,029 2,049 2,231 2,254 2,203 2,271 2,301 2,400 2,422 2 491 2,555 2,683 725 730 842 858 808 913 915 970 946 1 035 1,122 1,272 514 554 641 661 645 697 727 753 740 829 871 896 210 176 202 197 163 216 188 217 207 206 251 376 46 46 46 45 37 36 32 34 35 38 43 51 197 179 173 151 166 156 144 137 123 117 110 126 1,061 1,093 1,169 1,200 1,192 1,166 1,210 1.259 1,318 1 301 1^280 1,234 400 388 408 397 379 395 415 429 452 457 461 485 677 702 821 863 864 896 926 964 964 949 939 969 118 104 110 93 74 70 45 49 59 91 98 117 299 291 269 268 235 207 186 192 191 225 287 293 535 563 623 633 651 703 729 765 757 769 770 819 1962—Jan Feb Mar Apr May.... June July Aug Sept Oct Nov Dec 5,558 5,521 5,715 5,641 5,919 5,865 6,170 6,576 6,577 6,986 7,091 6,000 1 762 1,762 1,876 1,883 1,869 1,878 2,002 2,119 2,228 2,417 2,501 2,088 3 796 3,759 3,839 3,758 4,050 3,987 4,168 4,457 4,349 4,569 4,590 3,912 2 621 2,559 2,498 2,392 2,345 2,342 2,306 2,277 2,281 2,367 2,476 2,650 1 163 1,093 1,072 981 949 965 1,009 937 952 1,025 1,086 1,153 804 788 774 763 733 731 736 721 748 824 841 865 359 305 298 218 216 234 273 216 204 201 245 288 45 44 42 36 33 60 43 35 36 34 38 110 120 113 100 94 112 85 80 71 68 69 88 86 [ 294 I ,'309 1,284 1,281 1,251 1,232 1,175 1,234 1,225 1,239 1,264 1,301 477 472 474 479 462 473 485 488 520 502 525 541 946 915 889 826 787 751 705 667 674 679 719 778 74 106 86 74 96 145 143 138 144 160 173 186 271 223 182 158 145 117 93 72 73 110 145 171 853 844 867 855 855 857 881 912 870 917 914 974 1963—Jan Feb Mar Apr May.... June July Aug Sept Oct Nov Dec 6,790 6,996 7,076 7,382 7,542 7,239 7,522 7,808 7,161 7,869 8,170 6,747 2,091 2,193 2,260 2,204 2,084 2,049 2,059 2,062 2,098 2,230 2,172 1,928 4,699 4,803 4,816 5,178 5,458 5,190 5,463 5,746 5,063 5,639 5,998 4,819 2,593 2,565 2,589 2,658 2,696 2,697 2,712 2,644 2,709 2,733 2,744 2,890 1,153 1,141 1,167 1,251 1,148 1,227 1,202 1,174 1,127 1,093 1,190 1,291 849 840 886 977 923 953 990 938 946 911 976 1,031 304 301 280 274 225 274 213 236 181 181 214 260 72 54 52 44 42 43 39 38 34 58 42 162 84 84 83 83 83 83 85 89 104 105 102 92 1,284 1,285 [,288 1,280 1,422 1,344 1,386 1,343 1,443 1,477 1,410 1,345 538 542 554 523 525 536 555 556 564 563 571 567 730 703 730 750 808 807 791 772 775 807 842 908 149 159 142 146 149 130 128 105 97 89 54 56 180 148 122 108 72 66 64 53 47 46 46 41 996 1,013 1,041 1,130 1,142 1,158 1,174 1,159 1,226 1,229 ,230 ,317 1959—Jan Feb Mar Oct Nov Dec I960 Jan . . Feb Mar Apr May.... June.... July Aug Sept Oct Nov Dec 1961—Jan Feb Mar t 1 Before November 1958 only a small amount of finance company paper with an original maturity of over 270 days was included with finance company paper reported; thereafter complete totals are included. 2 Beginning with August 1959 data are not fully comparable with earlier figures because of expanded dealer coverage. 67 11. BOND YIELDS, BY TYPE OF SECURITY A. ANNUALLY AND MONTHLY, 1941-63 [Per cent per annum] Corporate bonds Government bonds State and local Period United States (longterm) Moody's Moody's Standard and Poor's Total Aaa Aa A Baa Standard and Poor's AAA By group By rating Total Aaa Aa A Baa Industrial Railroad Public utility 1941 1942 1943 1944 2.05 2.46 2.47 2.48 2.10 2.36 2.06 1.86 2.02 2.18 1.90 1.67 1.54 1.66 1.39 1.16 1.76 1.92 1.67 1.45 2.17 2.33 2.05 1.85 2.60 2.82 2.49 2.20 2.84 2.85 2.80 2.78 3.34 3.34 3.16 3.05 2.77 2.83 2.73 2.72 2.94 2.98 2.86 2.81 3.30 3.28 3.13 3.06 4.33 4.28 3.91 3.61 2.95 2.96 2.85 2.80 3.95 3.96 3.64 3.39 3.11 3.11 2.99 2.97 1945 1946 1947 1948 1949 2.37 2.19 2.25 2.44 2.31 1.67 1.64 2.01 2.40 2.21 1.50 1.46 1.84 2.33 2.15 1 07 .10 .45 .87 .65 1.32 1.27 1.59 2.01 1.91 1.65 1.56 1.94 2.53 2.38 1.95 1.90 2.37 2.90 2.66 2.61 2.51 2 58 2.80 2.65 2.87 2.74 2.86 3.08 2.96 2.62 2.53 2.61 2.82 2.66 2.71 2.62 2.70 2.90 2.75 2.87 2.75 2.87 3.12 3.00 3.29 3.05 3.24 3.47 3.42 2.68 2.60 2.67 2.87 2.74 3.06 2.91 3.11 3.34 3.24 2.89 2.71 2.78 3.03 2.90 1950 1951 1952 1953 1954 2.32 2.57 2.68 2.94 2.55 1.98 2.00 2.19 2.72 2.37 1.94 1.99 2.22 2.82 2.46 .56 .61 1.80 2.31 2.04 1.76 1.79 2.00 2.54 2.17 2.11 2.17 2.37 3.01 2.51 2.32 2.38 2.70 3.41 3.09 2.59 2 84 2.95 3.18 2.87 2.86 3.08 3.19 3.43 3.16 2.62 2.86 2.96 3.20 2.90 2.69 2.91 3.04 3.31 3.06 2.89 3.13 3.23 3.47 3.18 3.24 3.41 3.52 3.74 3.51 2.67 2.89 3.00 3.30 3.09 3.10 3.26 3.36 3.55 3.25 2.82 3.09 3.20 3.45 3.15 1955 1956 1957 1958 1959 2.84 3.08 3.47 3.43 4.07 2.53 2.93 3.60 3.56 3.95 2.57 2.94 3.56 3.36 3.74 2.18 2.51 3.10 2.92 3.35 2.32 2.72 3.33 3.17 3.55 2.66 3.02 3.62 3.39 3.83 3.14 3.50 4.20 3.95 4.24 3 04 3.38 3.91 3.80 4.39 3.25 3.57 4.21 4.16 4.65 3.06 3.36 3.89 3.79 4.38 3.16 3.45 4.03 3.94 4.51 3.24 3.57 4.19 4.17 4.67 3.53 3.88 4.71 4.73 5.05 3.19 3.50 4.12 3.98 4.51 3.34 3.65 4.32 4.39 4.75 3.22 3.54 4.18 4.10 4.70 I960 1961 1962 1963 4.01 3.90 3 95 4.00 3.73 3.46 3 18 3.23 3.69 3.60 3.30 3.28 3.26 3.27 3 03 3.06 3.51 3.46 3 17 3.16 3.75 3.66 3.32 3.30 4.22 4.01 3.67 3.58 4.41 4.36 4 29 4.24 4.73 4.66 4.62 4.50 4.41 4.35 4.33 4.26 4.56 4.48 4.47 4.39 4.77 4.70 4.65 4.48 5.19 5.08 5.02 4.86 4.59 4.54 4.47 4.42 4.92 4.86 4.86 4.65 4.69 4.57 4.51 4.41 1941 Jan.. Feb Mar Apr May June July Aug. Sect Oct Nov Dec 2.12 2 22 2.12 2.07 2.04 2.01 1.98 2.01 2.02 1.98 2.34 2.47 2.16 2 27 2.28 2.20 2.14 2.08 2.03 2.00 1.99 1.91 1.90 2.25 2.05 2.18 2.21 2.15 2.08 2.00 1.96 1.96 1.93 1.87 1.84 2.01 1.59 1 65 1.71 1 67 1.60 1.52 1.48 1.44 1.43 1.39 1.39 1 55 1.79 1 98 2.01 1.92 1.82 1.71 1.67 1.68 1.66 1.60 1.58 1.74 2.20 2 33 2.35 2.28 2.23 2.15 2.12 2.12 2.09 2.02 2.00 2.20 2.63 2 75 2.75 2.73 2.67 2.60 2.58 2.58 2.55 2.45 2.40 2.55 2.87 2 88 2.89 2.92 2.88 2.86 2.83 2.80 2.79 2.77 2.76 2.84 3.36 3.40 3.39 3.39 3.37 3.34 3.30 3.29 3.30 3.27 3.26 3.35 2.75 2.78 2.80 2.82 2.81 2.77 2.74 2.74 2.75 2.73 2.72 2.80 2.95 3.00 3.01 3.04 2.99 2.95 2.90 2.90 2.91 2.87 2.86 2.95 3.36 3.38 3.37 3.38 3.34 3.31 3.26 3.24 3.24 3.21 3.19 3.27 4.38 4.42 4.38 4.33 4.32 4.31 4.28 4.27 4.30 4.28 4.28 4.38 2.96 3.00 3.02 3.06 3.02 2.96 2.90 2.90 2.88 2.85 2.85 2.94 3.96 4.00 3.98 3.96 3.95 3.95 3.92 3.92 3.95 3.93 3.91 3.99 3.17 3.19 3.17 3.16 3.13 3.10 3.07 3.06 3.07 3.05 3.04 3.12 2.48 2.48 2.46 2 44 2.45 2 43 2.46 2 47 2.46 2 45 2 47 2.49 2.33 2.55 2.58 2 44 2.45 2 38 2.32 2 28 2.25 2 22 2 20 2.26 2.17 2.31 2 35 2 29 2 26 2 20 2.12 2 09 2.10 2 09 2 10 2.11 1.63 1.78 1.84 1 79 1 74 1 67 1.58 1 54 1.56 1 57 1 58 1.59 1.93 2.08 2.11 2 05 1.98 1 93 1.85 1 80 1.82 1 82 1 85 1.87 2.35 2.47 2.49 2 42 2.39 2 36 2.26 2 24 2.24 2.22 2 23 2.25 2.75 2.90 2.94 2 90 2.93 2 84 2.78 2.79 2.78 2.74 2 73 2.73 2.85 2.86 2.88 2 85 2.86 2 86 2.85 2.85 2.84 2.84 2 85 2.86 3.35 3.35 3.37 3.34 3.36 3.37 3.35 3.34 3.33 3.31 3.31 3.32 2.83 2.85 2.86 2.83 2.85 2.85 2.83 2.81 2.80 2.80 2.79 2.81 2.96 2.98 3.00 2.98 3.00 3 01 2.99 2.99 2.98 2.95 2.94 2.96 3.30 3.29 3.32 3.30 3.31 3.31 3.28 3.27 3.26 3.24 3.24 3.23 4.29 4.29 4.30 4.26 4.27 4.33 4.30 4.28 4.26 4.24 4.25 4.28 2.97 2.98 3.00 2.96 2.97 2.97 2.94 2.94 2.95 2.94 2.93 2.94 3.93 3.94 3.94 3.95 3.97 4.03 4.02 3.98 3.95 3.92 3.93 3.96 3.13 3.15 3.17 3.13 3.13 3.12 3.09 3.09 3.08 3.07 3.06 3.07 1942—Jan Feb... Mar Apr.. . May June.. July Aue... Seot Oct Nov.. Dec 1943—Jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. \2.27 2.22 2.21 2.20 2.13 2.07 1.97 1.91 1.92 1.88 1.90 2.00 2.09 2.06 2.04 2.00 1.94 1.88 1.84 1.82 1.80 1.75 1.76 1.79 1.56 1.54 .53 .48 1.43 .38 .34 .33 .31 .25 1.26 1.27 1.85 1.81 1.80 1.76 L.72 1.67 1.62 1.58 1.57 1.52 1.54 1.56 2.24 d 2.21 2.18 2.14 2.08 2.02 1.98 1.96 1.95 1.90 1.91 .98 2.72 2.68 2.66 2.62 2.54 2.46 2.40 2.39 2.38 2.32 2.34 2.36 2.84 2.82 2.83 2.83 2.81 2.79 2.77 2.77 2.77 2.78 2.80 2.83 3.27 3.23 3.20 3.19 3.16 3.14 3.11 3.10 3.11 3.11 3.13 3.14 2.79 2.77 2.76 2.76 2.74 2.72 2.69 2.69 2.69 2.70 2.71 2.74 2.93 2.89 2.88 2.88 2.87 2.85 2.82 2.81 2.82 2.83 2.84 2.87 3.20 3.17 3.14 3.14 3.13 3.11 3.09 3.08 3.10 3.10 3.11 3.13 4.16 4.08 4.01 3.96 3.91 3.88 3.81 3.81 3.83 3.82 3.83 3.82 2.90 2.88 2.87 2.87 2.86 2.84 2.80 2.79 2.82 2.82 2.85 2.86 3.86 3.78 3.73 3.69 3.64 3.61 3.56 3.55 3.56 3.55 3.56 3.56 3.05 3.02 3.00 3.01 3.00 2.98 2.95 2.96 2.96 2.96 2.98 3.00 1944—Jan... Feb.. Mar.. May.' June. July.. Aug.. Sept.. Oct... Nov.. Dec. ON 2.46 2.46 2.48 2.48 2.46 2.45 2.45 2.46 2.48 2.48 2.48 2.49 2.49 2.49 2.48 2.48 2.49 2.49 2.49 2.48 2.47 2.48 2.48 2.48 1.92 1.85 1.84 1.85 1.86 1.87 1.84 1.82 1.83 1.87 1.88 1.87 1.73 1.69 1.67 1.68 1.68 1.66 1.63 1.60 1.64 1.67 1.68 1.67 1.21 1.17 1.16 .17 1.17 1.16 .15 .14 .15 .16 .16 .15 1.51 1.46 1.44 1.45 1.46 1.45 1.43 1.42 .44 1.45 [.47 1.47 1.91 1.86 .84 .85 .85 1.83 .80 .78 L.82 1.87 1.88 1.86 2.30 2.27 2.24 2.25 '2.25 2.19 2.13 2.07 2.14 2.18 2.21 2.20 2.81 2.81 2.80 2.78 2.77 2.78 2.78 2.77 2.76 2.76 2.76 2.74 3.11 3.10 3.09 3.08 3.06 3.05 3.04 3.02 3.03 3.02 3.02 2.98 2.72 2.74 2.74 2.74 2.73 2.73 2.72 2.71 2.72 2.72 2.72 2.70 2.83 2.83 2.82 2.82 2.81 2.81 2.80 2.79 2.79 2.81 2.80 2.76 3.11 3.10 3.10 3.09 3.07 3.07 3.05 3.04 3.05 3.01 3.01 2.98 3.76 3.72 3.70 3.68 3.63 3.59 3.57 3.55 3.56 3.55 3.53 3.49 2.83 2.83 2.83 2.83 2.81 2.79 2.79 2.79 2.79 2.79 2.77 2.74 3.51 3.49 3.48 3.45 3.41 3.40 3.37 3.34 3.35 3.32 3.29 3.25 2.99 2.98 2.97 2.97 2.97 2.96 2.95 2.94 2.94 2.96 2.98 2.96 1945—Jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 2.44 2.38 2.40 2.39 2.39 2.35 2.34 2.36 2.37 2.35 2.33 2.33 1.81 1.71 1.61 1.57 1.58 1.58 1.57 1.70 1.79 1.76 1.70 1.64 1.60 1.51 1.42 1.39 1.39 1.42 1.43 1.55 1.64 1.61 1.55 1.48 1.09 1.02 .96 .95 .98 1.01 1.02 1.13 1.22 1.21 1.16 1.11 1.41 1.36 1.27 1.23 .24 1.25 .26 1.36 1.44 1.42 1.35 1.27 .79 .68 L.58 1.54 1.52 1.54 1.58 1.69 1.80 1.79 1.71 .62 2.10 1.99 1.85 1.82 .83 .86 .87 2.02 2.10 2.03 1.98 1.91 2.65 2.61 2.59 2.59 2.59 2.61 2.60 2.62 2.63 2.62 2.61 2.60 2.97 2.93 2.91 2.90 2.89 2.87 2.85 2.86 2.85 2.84 2.82 2.80 2.69 2.65 2.62 2.61 2.62 2.61 2.60 2.61 2.62 2.62 2.62 2.61 2.76 2.73 2.72 2.73 2.72 2.69 2.68 2.70 2.70 2.70 2.68 2.68 2.98 2.94 2.92 2.90 2.88 2.86 2.85 2.85 2.85 2.84 2.81 2.79 3.46 3.41 3.38 3.36 3.32 3.29 3.26 3.26 3.24 3.20 3.15 3.10 2.73 2.69 2.68 2.69 2.68 2.68 2.68 2.68 2.67 2.65 2.64 2.64 3.23 3.16 3.11 3.07 3.05 3.03 3.00 3.02 3.05 3.03 2.99 2.96 2.97 2.95 2.94 2.94 2.93 2.89 2.87 2.86 2.85 2.84 2.81 2.79 1946—Jan... Feb.. Mar.. M*ay.' June. July.. Aug.. Sept.. Oct... Nov.. Dec. 2.21 2.12 2.09 2.08 2.19 2.16 2.18 2.23 2.28 2.26 2.25 2.24 1.57 1.49 1.49 1.45 1.54 1.55 1.60 1.65 1.75 1.84 1.80 1.97 1.39 1.29 1.25 1.22 1.35 1.38 1.46 1.54 1.60 1.64 1.60 1.78 1.02 .94 .92 .91 .02 .04 .09 1.16 .21 1.24 .23 1.38 1.20 1.12 [.09 1.05 .18 1.22 1.28 1.35 1.41 1.44 1.37 1.53 .53 1.41 1.36 1.31 .44 1.48 1.55 1.63 1.68 1.72 1.68 1.88 .79 1.67 1.61 L.59 1.74 1.79 1.91 2.00 2.08 2.15 2.12 2.34 2.52 2.46 2.44 2.44 2.49 2.47 2.48 2.51 2.55 2.58 2.58 2.60 2.73 2.68 2.66 2.67 2.71 2.71 2.71 2.73 2.79 2.82 2.82 2.83 2.54 2.48 2.47 2.46 2.51 2.49 2.48 2.51 2.58 2.60 2.59 2.61 2.62 2.56 2.54 2.56 2.58 2.59 2.59 2.62 2.68 2.70 2.69 2.69 2.73 2.70 2.69 2.69 2.73 2.73 2.72 2.74 2.80 2.84 2.84 2.83 3.01 2.95 2.94 2.96 3.02 3.03 3.03 3.03 3.10 3.15 3.17 3.17 2.57 2.54 2.54 2.57 2.60 2.59 2.58 2.58 2.64 2.65 2.66 2.66 2.89 2.83 2.80 2.78 2.84 2.85 2.86 2.89 2.98 3.05 3.05 3.04 2.71 2.65 2.64 2.65 2.69 2.70 2.69 2.70 2.75 2.76 2.77 2.77 1947—Jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 2.21 2.21 2.19 2.19 2.19 2.22 2.25 2.24 2.24 2.27 2.36 2.39 1.92 1.99 2.02 .98 1.95 1.92 1.91 1.93 1.92 2.02 2.18 2.35 1.75 1.79 1.87 1.78 1.77 1.75 1.73 1.78 1.79 1.87 2.03 2.18 1.35 L.39 1.46 1.41 .42 1.40 1.39 L.43 1.42 1.50 1.59 1.69 1.49 1.54 1.62 1.55 1.54 1.50 1.48 1.53 1.53 1.60 1.76 1.91 1.84 1.88 1.96 1.86 1.84 1.82 1.83 1.89 1.91 1.99 2.17 2.33 2.30 2.35 2.43 2.31 2.29 2.26 2.23 2.26 2.29 2.40 2.59 2.78 2.54 2.54 2.53 2.51 2.51 2.52 2.52 2.52 2.55 2.67 2.74 2.83 2.79 2.78 2.79 2.78 2.79 2.81 2.80 2.80 2.85 2.95 3.02 3.12 2.57 2.55 2.55 2.53 2.53 2.55 2.55 2.56 2.61 2.70 2.77 2.86 2.65 2.64 2.64 2.63 2.63 2.64 2.64 2.64 2.69 2.79 2.85 2.94 2.79 2.79 2.80 2.81 2.82 2.83 2.82 2.81 2.86 2.95 3.01 3.16 3.13 3.12 3.15 3.16 3.17 3.21 3.18 3.17 3.23 3.35 3.44 3.52 2.63 2.61 2.61 2.60 2.60 2.60 2.62 2.63 2.67 2.76 2.84 2.92 3.00 3.00 3.02 3.03 3.05 3.10 3.06 3.03 3.09 3.22 3.30 3.42 2.73 2.72 2.73 2.71 2.71 2.72 2.72 2.72 2.78 2.87 2.93 3.02 11. BOND YIELDS, BY TYPE OF SECURITY — Continued A. ANNUALLY AND MONTHLY, 1941-63 — Continued [Per cent per annum] Government bonds Corporate bonds State and local Month United States (longterm) Moody's Moody's Standard and Poor's Total Aaa Aa A Baa Standard and Poor's AAA By group By rating Total Aaa Aa A Baa Industrial Railroad Public utility 1948—Jan.. Feb.. Mar.. Apr.. May. June. July., Aug.. Sept., Oct.. Nov., Dec. 2.45 2.45 2.44 2.44 2.42 2.41 2.41 2.45 2.45 2.45 2.44 2.44 2.45 2.55 2.52 2.38 2.31 2.26 2.33 2.45 2.46 2.45 2.42 2.26 2.28 2.42 2.44 2.35 2.29 2.23 2.27 2.34 2.39 2.40 2.32 2.22 1.76 1.88 1.96 1.92 1.87 1.81 1.85 1.90 1.93 1.93 1.86 1.75 2.02 2.17 2.18 2.05 1.96 1.90 1.93 2.01 2.07 2.07 1.96 1.85 2.45 2.59 2.58 2.53 2.49 2.42 2.48 2.56 2.60 2.62 2.58 2.47 2.89 3.03 3.02 2.92 2.85 2.79 2.80 2.87 2.94 2.96 2.89 2.80 2.81 2.82 2.80 2.77 2.75 2.74 2.79 2.84 2.84 2.84 2.84 2.79 3.12 3.12 3.10 3.05 3.02 3.00 3.04 3.09 3.09 3.11 3.12 3.09 2.86 2.85 2.83 2.78 2.76 2.76 2.81 2.84 2.84 2.84 2.84 2.79 2.94 2.93 2.90 2.87 2.86 2.85 2.89 2.94 2.93 2.94 2.92 2.88 3.17 3.17 3.13 3.08 3.06 3.03 3.07 3.13 3.13 3.15 3.18 3.16 3.52 3.53 3.53 3.47 3.38 3.34 3.37 3.44 3.45 3.50 3.53 3.5,3 2.91 2.90 2.89 2.85 2.82 2.80. 2.84 2.89 2.88 2.90 2.89 2.85 3.44 3.43 3.40 3.34 3.27 3.23 3.26 3.31 3.32 3.35 3.37 3.36 3.03 3.03 3.01 2.97 2.95 2.96 3.02 3.07 3.07 3.07 3.09 3.06 1949—Jan.. Feb.. Mar. May.' June. July. Aug. Sept. Oct.. Nov. Dec. 2.42 2.39 2.38 2.38 2.38 2.38 2.27 2.24 2.22 2.22 2.20 2.19 2.15 2.23 2.21 2.20 2.20 2.28 2.26 2.20 2.22 2.21 2.17 2.13 2.11 2.17 2.18 2.17 2.16 2.22 2.17 2.14 2.15 2.15 2.11 2.07 1.64 1.70 1.69 1.64 1.63 1.71 1.66 1.63 1.64 1.65 1.63 1.61 1.82 1.89 1.89 1.89 1.90 1.98 1.94 1.93 1.94 1.95 1.89 1.86 2.33 2.40 2.41 2.43 2.42 2.48 2.40 2.38 2.37 2.35 2.33 2.29 2.66 2.70 2.73 2.71 2.68 2.72 2.66 2.63 2.65 2.64 2.58 2.53 2.71 2.70 2.70 * 2.69 2.69 2.69 2.65 2.60 2.58 2.59 2.58 2.56 3.02 3.00 3.00 3.00 3.00 3.00 2.98 2.92 2.90 2.90 2.89 2.86 2.71 2.71 2.70 2.70 2.71 2.71 2.67 2.62 2.60 2.61 2.60 2.58 2.81 2.80 2.79 2.79 2.78 2.78 2.75 2.71 2.69 2.70 2.68 2.67 3.08 3.05 3.05 3.05 3.04 3.04 3.03 2.96 2.95 2.94 2.93 2.89 3.46 3.45 3.47 3.45 3.45 3.47 3.46 3.40 3.37 3.36 3.35 3.31 2.80 2.79 2.78 2.78 2.78 2.78 2.75 2.70 2.68 2.68 2.67 2.65 3.26 3.24 3.27 3.27 3.26 3.29 3.29 3.21 3.19 3.20 3.20 3.14 2.99 2.99 2.97 2.96 2.95 2.93 2.89 2.86 2.84 2.83 2.81 2.79 1950—Jan.. Feb.. Mar. Apr., May. June. July. Aug. Sept. Oct.. Nov. Dec 2.20 2.24 2.27 2.30 2.31 2.33 2.34 2.33 2.36 2.38 2.38 2.39 2.08 2.06 2.07 2.08 2.07 2.09 2.09 1.90 1.88 1.82 1.79 1.77 2.03 2.02 2.02 2.03 2.04 2.05 2.03 1.85 1.84 .78 .77 .78 1.61 1.61 1.62 1.63 1.65 1.66 1.66 1.52 1.50 1.44 1.42 1.42 1.82 1.83 1.84 1.87 1.88 1.88 1.87 1.66 1.67 1.61 1.58 1.60 2.23 2.20 2.20 2.21 2.23 2.23 2.21 1.99 2.00 1.93 1.92 1.92 2.46 2.43 2.40 2.40 2.41 2.42 2.39 2.21 2.20 2.15 2.15 2.17 2.55 2.55 2.55 2.56 2.58 2.59 2.61 2.58 2.60 2.63 2.64 2.63 2.83 2.83 2.84 2.84 2.86 2.87 2.90 2.85 2.86 2.88 2.88 2.88 2.57 2.58 2.58 2.60 2.61 2.62 2.65 2*61 2.64 2.67 2.67 2.67 2.65 2.65 2.66 2.66 2.69 2.69 2.72 2.67 2.71 2.72 2.72 2.72 2.85 2.86 2.86 2.86 2.88 2.90 2.92 2.87 2.88 2.91 2.92 2.91 3.24 3.24 3.24 3.23 3.25 3.28 3.32 3.23 3.21 3.22 3.22 3.20 2.63 2.63 2.64 2.64 2.65 2.66 2.69 2.66 2.68 2.70 2.70 2.70 3.07 3.08 3.08 3.08 3.12 3.15 3.19 3.08 3.07 3.09 3.08 3.07 2.79 2.78 2.78 2.79 2.81 2.81 2.83 2.80 2.84 2.85 2.86 2.87 1951—Jan.. Feb.. Mar. Apr. May. June, July. Aug. Sept. Oct.. Nov. Dec 2.39 2.40 2.47 2.56 2.63 2.65 2.63 2.57 2.56 2.61 2.66 2.70 1.62 1.61 1.87 2.05 2.09 2.22 2.18 2.04 2.05 2.08 2.07 2.10 1.64 1.60 .77 1.97 2.04 2.23 2.23 2.03 2.01 2.08 2.08 2.12 1.31 1.30 1.45 1.61 1.66 1.78 1.78 1.65 1.65 1,69 1.69 1.72 1.43 1.38 1.59 1.79 1.85 2.03 2.04 1.86 1.83 1.87 1.85 1.89 1.78 1.73 1.91 2.12 2.23 2.44 2.42 2.22 2.21 2.30 2.30 2.33 2.05 1.99 2.17 2.35 2.41 2.67 2.67 2.38 2.35 2.44 2.47 2.53 2.62 2.63 2.73 2.83 2.85 2.90 2.92 2.87 2.82 2.88 2.98 3.01 2.86 2.85 2.96 3.07 3.09 3.16 3.17 3.12 3.08 3.13 3.20 3.21 2.66 2.66 2.78 2.87 2.89 2.94 2.94 2.88 2.84 2.89 2.96 3.01 2.71 2.71 2.82 2.93 2.93 2.99 2.99 2.92 2.88 2.93 3.02 3.06 2.89 2.88 3.00 3.11 3.15 3.21 3.23 3.17 3.15 3.18 3.26 3.31 3.17 3.16 3.23 3.35 3.40 3.49 3.53 3.50 3.46 3.50 3.56 3.61 2.69 2.69 2.81 2.89 2.90 2.96 2.97 2.92 2.89 • 2.93 2.97 3.00 3.03 3.01 3.09 3.24 3.28 3.33 3.36 3.31 3.27 3.31 3.42 3.50 2.85 2.86 2.95 3.07 3.10 3.18 3.19 3.13 3.09 3.14 3.21 3.24 1952—Jan.... Feb.. . Mar... Apr... May.. June.. July... Aug... Sept... Oct... Nov.., Dec.. . 2.74 2.71 2.70 2.64 2.57 2.61 2.61 2.70 2.71 2.74 2.71 2.75 2.10 2.04 2.07 2.01 2.05 2.10 2.12 2.22 2.33 2.42 2.40 2.40 2.14 2.10 2.09 2.04 2.05 2.14 2.17 2.23 2.35 2.43 2.41 2.44 .74 1.72 1.72 1.68 1.67 .73 .76 1.78 1.91 L.99 1.98 1.96 1.92 1.90 1.87 1.83 1.83 1.93 1.96 2.03 2.14 2.19 2.18 2.22 2.30 2.25 2.24 2.15 2.17 2.25 2.29 2.38 2.51 2.61 2.59 2.66 2.58 2.55 2.54 2.50 2.54 2.63 2.67 2.74 2.84 2.94 2.90 2.92 2.96 2.91 2.95 2.92 2.92 2.93 2.94 2.95 2.96 3.02 2.98 2.98 3.24 3.18 3.19 3.16 3.16 3.17 3.17 3.18 3.19 3.22 3.20 3.19 2.98 2.93 2.96 2.93 2.93 2.94 2.95 2.94 2.95 3.01 2.98 2.97 3.05 3.01 3.03 3.01 3.00 3.03 3.04 3.06 3.07 3.08 3.06 3.05 3.33 3.25 3.24 3.20 3.20 3.20 3.19 3.21 3.22 3.24 3.24 3.22 3.50 3.53 3.51 3.50 3.49 3.50 3.50 3.51' 3.52 3.54 3.53 3.51 3.00 2.97 2.99 2.97 2.97 2.98 2.99 3.00 3.20 3.05 3.05 3.04 3.48 3.38 3.36 3.32 3.31 3.32 3.33 3.34 3.36 3.39 3.37 3.34 3.23 3.19 3.21 3.19 3.19 3.20 3.20 3.20 3.20 3.22 3.19 3.19 1953—Jan... Feb... Mar.. Apr.. May. . June.. July.. Aug.. Sept.. Oct... Nov.., Dec.. 2.80 2.83 2.89 2.97 3.12 3.13 3.04 3.05 3.01 2.87 2.86 2.79 2.47 2.54 2.61 2.63 2.73 2.99 2.99 2.89 2.88 2.72 2.62 2.59 2.52 2.65 2.76 2.76 2.84 3.12 3.03 2.99 2.99 2.83 2.64 2.67 2.04 2.14 2.21 2.20 2.32 2.64 2.56 2.48 2.49 2.33 2.15 2.18 2.30 2.41 2.49 2.50 2.58 2.86 2.80 2.70 2.68 2.50 2.31 2.31 2.73 2.88 3.00 3.00 3.07 3.30 3.17 3.16 3.18 2.99 2.78 2.83 3.02 3.17 3.33 3.35 3.42 3.67 3.60 3.60 3.62 3.49 3.33 3.34 3.03 3.06 3.10 3.20 3.33 3.39 3.27 3.22 3.26 3.15 3.08 3.09 3.22 3.26 3.31 3.40 3.53 3.61 3.55 3.51 3.54 3.45 3.38 3.39 3.02 3.07 3.12 3.23 3.34 3.40 3.28 3.24 3.29 3.16 3.11 3.13 3.09 3.14 3.13 3.29 3.41 3.50 3.42 3.39 3.43 3.33 3.27 3.28 3.25 3.30 3.36 3.44 3.58 3.67 3.62 3.56 3.56 3.47 3.40 3.40 3.51 3.53 3.57 3.65 3.78 3.86 3.86 3.85 3.88 3.82 3.75 3.74 3.07 3.11 3.16 3.27 3.39 3.48 3.42 3.37 3.39 3.33 3.27 3.28 3.36 3.39 3.43 3.51 3.63 3.73 3.67 3.61 3.65 3.56 3.51 3.52 3.23 3.29 3.33 3.44 3.57 3.62 3.56 3.54 3.58 3.46 3.38 3.37 1954—Jan... Feb.., Mar.. Apr.. May., June., July.. Aug.. Sept.. Oct... Nov.. Dec. 2.69 2.62 2.53 2.48 2.54 2.55 2.47 2.48 2.52 2.54 2.57 2.59 2.50 2.39 2.38 2.47 2.49 2.48 2.31 2.23 2.29 2.32 2.29 2.33 2.62 2.54 2.50 2.56 2.59 2.59 2.39 2.31 2.34 2.37 2.34 2.40 2.12 2.06 2.04 2.15 2.18 2.17 1.98 1.90 1.93 1.97 1.95 2.01 2.28 2.21 2.18 2.26 2.29 2.29 2.11 2.00 2.04 2.06 2.05 2.13 2.79 2.70 2.63 2.67 2.67 2.66 2.46 2.38 2.42 2.44 2.39 2.48 3.27 3.19 3.13 3.17 3.20 3.22 3.00 2.94 2.98 3.00 2.96 2.99 3.02 2.91 2.82 2.81 2.85 2.87 2.85 2.83 2.84 2.85 2.86 2.88 3.34 3.23 3.14 3.12 3.13 3.16 3.15 3.14 3.13 3.13 3.13 3.13 3.06 2.95 2.86 2.85 2.88 2.90 2.89 2.87 2.89 2.87 2.89 2.90 3.22 3.12 3.03 3.00 3.03 3.06 3.04 3.03 3.04 3.04 3.04 3.04 3.35 3.25 3.16 3.15 3.15 3.18 3.17 3.15 3.13 3.14 3.13 3.14 3.71 3.61 3.51 3.47 3.47 3.49 3.50 3.49 3.47 3.46 3.45 3.45 3.23 3.12 3.05 3.04 3.06 3.10 3.10 3.07 3.07 3.06 3.06 3.07 3.47 3.35 3.24 3.19 3.21 3.23 3.23 3.21 3.22 3.23 3.22 3.23 3.31 3.23 3.14 3.13 3.13 3.15 3.13 3.12 3.13 3.11 3.10 3.10 1955—Jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 2.68 2.77 2.78 2.82 2.81 2.82 2.91 2.95 2.92 2.87 2.89 2.91 2.39 2.42 2.45 2.43 2.41 2.48 2.62 2.67 2.63 2.56 2.55 2.71 2.48 2.49 2.49 2.50 2.48 2.49 2.62 2.69 2.70 2.64 2.60 2.70 2.09 2.10 2.09 2.08 2.06 2.09 2.23 2.33 2.31 2.25 2.20 2.29 2.23 2.25 2.25 2.26 2.24 2.24 2.36 2.43 2.43 2.36 2.31 2.46 2.55 2.57 2.56 2.57 2.55 2.56 2.70 2.78 2.80 2.73 2.69 2.81 3.04 3.05 3.07 3.08 3.07 3.08 3.17 3.22 3.24 3.22 3.20 3.25 2.90 2.95 2.98 2.98 3.02 3.03 3.04 3.11 3.12 3.09 3.08 3.16 3.15 3.18 3.20 3.21 3.23 3.23 3.24 3.29 3.31 3.30 3.29 3.33 2.93 2.93 3.02 3.01 3.04 3.05 3.06 3.11 3.13 3.10 3.10 3.15 3.06 3.10 3.13 3.13 3.15 3.14 3.14 3.20 3.22 3.19 3.18 3.22 3.15 3.17 3.18 3.19 3.21 3.22 3.24 3.28 3.31 3.30 3.29 3.33 3.45 3.47 3.48 3.49 3.50 3.51 3.52 3.56 3.59 3.59 3.58 3.62 3.08 3.12 3.14 3.14 3.17 3.18 3.18 3.25 3.25 3.23 3.22 3.26 3.25 3.28 3.31 3.30 3.32 3.31 3.32 3.36 3.40 3.38 3.38 3.42 3.12 3.15 3.17 3.17 3.19 3.21 3.22 3.26 3.29 3.27 3.28 3.31 1956—Jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 2.88 2.85 2.93 3.07 2.97 2.93 3.00 3.17 3.21 3.20 3.30 3.40 2.64 2.58 2.69 2.88 2.86 2.75 2.78 2.94 3.07 3.14 3.38 3.44 2.69 2.63 2.67 2.84 2.83 2.71 2.79 2.94 3.06 3.12 3.39 3.57 2.27 2.19 2.24 2.43 2.46 2.34 2.40 2.53 2.63 2.66 2.87 3.04 2.46 2.40 2.44 2.61 2.62 2.52 2.58 2.71 2.85 2.93 3.16 3.32 2.78 2.73 2.77 2.92 2.88 2.74 2.82 2.98 3.14 3.21 3.53 3.72 3.24 3.21 3.24 3.38 3.37 3.26 3.34 3.52 3.60 3.67 3.98 4.19 3.10 3.07 3.11 3.23 3.27 3.28 3.30 3.42 3.59 3.63 3.74 3.80 3.30 3.28 3.30 3.41 3.46 3.46 3.50 3.62 3.75 3.82 3.90 3.89 3.11 3.08 3.10 3.24 3.28 3.26 3.28 3.43 3.56 3.59 3.69 3.75 3.19 3.16 3.13 3.30 3.34 3.35 3.39 3.50 3.63 3.69 3.76 3.85 3.30 3.28 3.30 3.41 3.47 3.48 3.52 3.63 3.73 3.81 3.90 3.98 3.60 3.58 3.60 3.68 3.73 3.76 3.80 3.93 4.07 4.17 4.24 4.37 3.23 3.20 3.24 3.37 3.40 3.39 3.42 3.55 3.68 3.75 3.82 3.95 3.40 3.37 3.37 3.47 3.53 3.55 3.59 3.72 3.83 3.89 4.01 4.08 3.28 3.26 3.27 3.38 3.44 3.44 3.48 3.60 3.73 3.82 3.86 3.93 11. BOND YIELDS, BY TYPE OF SECURITY — Continued A. ANNUALLY AND MONTHLY, 1941-63 — Continued [Per cent per annum] Corporate bonds Government bonds State and local Month 1957 Jan Feb Mar Apr May June July AUE Sept Oct Nov Dec 1958—Jan Feb Mar Apr . . May June . July Aug Sent Oct Nov Dec 1959 Jan . Feb Mar Apr . May June July Aug Sept Oct Nov Dec I960—Jan Feb Mar Apr May. . . June July Aug Sept Oct Nov Dec . United States (longterm) Moody's Standard Moody's and By rating Standard and Poor's Total Aaa Aa A Baa 3.34 3.22 3.26 3.32 3.40 3.58 3.60 3.63 3.66 3.73 3.57 3.30 3.40 3.26 3.32 3.33 3.52 3.75 3.75 3.91 3.90 3.79 3.76 3.47 3.51 3.29 3.36 3.35 3 48 3.65 3.65 3.84 3.89 3.74 3 67 3.33 2.99 2.79 2.88 2.88 3 00 3.19 3.17 3 37 3.43 3.31 3 24 2.92 3.24 3.05 3.15 3.15 3.26 3.41 3.41 3.64 3.68 3.50 3.42 3.05 3.64 3.37 3.42 3.43 3.54 3.69 3.73 3.90 3.96 3.78 3 68 3.33 4.16 3.96 3.97 3.95 4.10 4.32 4.29 4.43 4.49 4.38 4.35 4.00 3.80 3 70 3.69 3.70 3 77 3.93 4.01 4 13 4.15 4.13 4 12 3.81 4.04 3.99 3.97 3.96 4.02 4.15 4.26 4 37 4.44 4.46 4 49 4.31 3.24 3.26 3.25 3.12 3.14 3.19 3.36 3.60 3.75 3.76 3.70 3.80 3.32 3.37 3.45 3.31 3.25 3.26 3.45 3.74 3.96 3.94 3.84 3.84 3.17 3.15 3.23 3.16 3.12 3 15 3.23 3.50 3 74 3.69 3.59 3.57 2.75 2.72 2.79 2.70 2.69 2 74 2.79 3.07 3 28 3.23 3.17 3.12 2.94 2.96 3.04 3.00 2.95 2.96 3.03 3.31 3.58 3.51 3.38 3.35 3.18 3.13 3.22 3.17 3.12 3 15 3.24 3.56 3 80 3.76 3.69 3.68 3.81 3.79 3.88 3.78 3.71 3.78 3.83 4.07 4.32 4.25 4.11 4.10 3 59 3.60 3.64 3 63 3.61 3 61 3.70 3.86 4 08 4.14 4.09 4.10 3.90 3.92 3.92 4.01 4.08 4 09 4.11 4 10 4.26 4.11 4.12 4.27 3.87 3.85 3.76 3.84 3.97 4 04 4.04 3 96 4.13 3.99 3.94 4.05 3 60 3.57 3.44 3 53 3.70 3 80 3.92 3 84 3.95 3.90 3 81 3.84 3 19 3.16 3.06 3.12 3.29 3 37 3.51 3 44 3 60 3.57 3 44 3.43 3.40 3.38 3.23 3.34 3.54 3 64 3.75 3 63 3.78 3.71 3 59 3.62 3 68 3.66 3.55 3 64 3.81 3 90 3.99 3 91 3.99 3.96 3 90 3.93 4.11 4.08 3.93 4.02 4.20 4 28 4.43 4 36 4.42 4.38 4.30 4.37 4.37 4.22 4.0« 4 17 4.16 3 99 3.86 3.79 3.82 3 91 3.93 3.88 4.13 3 97 3.87 3 84 3.85 3 78 3.72 3.53 3.53 3 59 3.46 3.45 3.92 3 84 3.77 3 72 3.75 3 74 3.73 3.57 3 55 3 64 3.57 3.53 3.49 3 40 3.34 3 30 3.34 3 33 3.31 3.10 3 09 3 20 3.14 3.12 3.73 3 66 3.60 3 55 3.55 3 53 3.52 3.37 3.37 3 49 3.42 3.35 4.02 3 93 3.84 3 77 3.81 3 82 3.84 3.66 3.63 3 70 3.63 3.60 4.43 4 35 4.29 4 24 4.31 4 27 4.26 4.15 4.09 4 16 4.09 4.03 Poor's AAA By group Total Aaa Aa A Baa Industrial Railroad Public utility 3.77 3.67 3.66 3.67 3.74 3.91 3.99 4.10 4.12 4.10 4.08 3.81 3.89 3.83 3.80 3.79 3.83 3.98 4.10 4.21 4.26 4.28 4.29 4.08 4.01 3.99 3.97 3.95 3.99 4.09 4.20 4.35 4.43 4.46 4.50 4.31 4.49 4.47 4.43 4.44 4.52 4.63 4.73 4.82 4.93 4.99 5.09 5.03 4.02 3.94 3.90 3.89 3.96 4.14 4.19 4.29 4.31 4.32 4.34 4.11 4.12 4.06 4.04 4.06 4.13 4.26 4.39 4.49 4.56 4.57 4.65 4.53 3.98 3.97 3.95 3.94 3.98 4.06 4.19 4.33 4.45 4.48 4.49 4.29 4 06 4.01 4.04 4 02 4.00 3 98 4 02 4.17 4 39 4 42 4.40 4.38 3.60 3.59 3.63 3.60 3.57 3.57 3.67 3.85 4.09 4.11 4.09 4.08 3.81 3.77 3.78 3.78 3.78 3.78 3.83 3.98 4.20 4.21 4.21 4.18 4.01 4.00 4.06 4.01 4.02 4.00 4.04 4.19 4.40 4.45 4.43 4.42 4.83 4.66 4.68 4.67 4.62 4.55 4.53 4.67 4.87 4.92 4.87 4.85 3.91 3.86 3.86 3.83 3.80 3.77 3.81 3.94 4.24 4.25 4.23 4.24 4.30 4.29 4.30 4.32 4.30 4.28 4.30 4.42 4.52 4.56 4.56 4.52 3.99 3.87 3.95 3.90 3.89 3.88 3.94 4.16 4.41 4.46 4.40 4.39 4 14 4.15 4.13 4 23 4.38 4 46 4.47 4 44 4 54 4.55 4 55 4.59 4 41 4.43 4.40 4 47 4.60 4 69 4 72 4 71 4 82 4.87 4 85 4.87 4.12 4.14 4.13 4.23 4.37 4.46 4.47 4 43 4.52 4.57 4.56 4.58 4.22 4.24 4.23 4.32 4.46 4.56 4.58 4.58 4.69 4.76 4.70 4.74 4.43 4.43 4.40 4.45 4.61 4.71 4.75 4.74 4.87 4.87 4.86 4.89 4.87 4.89 4.85 4.86 4.96 5.04 5.08 5.09 5.18 5.28 5.26 5.28 4.28 4.31 4.28 4.35 4.46 4.55 4.58 4.56 4.68 4.70 4.69 4.70 4.53 4.51 4.51 4.56 4.67 4.76 4.79 4.80 4.88 4.96 4.99 5.05 4.43 4.46 4.43 4.49 4.67 4.77 4.79 4.77 4.89 4.95 4.86 4.86 4.62 4 55 4.47 4 44 4.45 4 44 4.39 4.27 4.24 4 30 4.34 4.37 4.91 4 88 4.81 4 76 4.80 4 78 4.74 4.61 4 58 4 63 4.64 4.66 4.61 4.56 4.49 4 45 4.46 4 45 4.41 4.28 4.25 4.30 4.31 4.35 4.77 4.71 4.62 4.58 4.61 4.60 4.56 4.44 4.41 4.44 4.47 4.50 4.93 4.92 4.86 4.79 4.84 4.81 4.77 4.65 4.63 4.67 4.69 4.71 5.34 5.34 5.25 5.20 5.28 5.26 5.22 5.08 5.01 5.11 5.08 5.10 4.74 4.71 4.64 4.61 4.65 4.64 4.61 4.49 4.46 4.50 4.51 4.55 5.08 5.05 4.99 4.97 4.98 4.94 4.90 4.82 4.78 4.84 4.85 4.87 4.92 4.89 4.79 4.70 4.76 4.76 4.71 4.53 4.48 4.56 4.56 4.58 . 1961—Jan.. Feb.. Mar., Apr.. May. June. July., Aug., Sept., Oct.. Nov. Dec. 3.89 3.81 3.78 3.80 3.73 3.88 3.90 4.00 4.02 3.98 3.98 4.06 3.44 3.33 3.38 3.44 3.38 3.53 3.53 3.55 3.54 3.46 3.44 3.49 3.56 3.54 3.60 3.61 3.57 3.63 3.63 3.62 3.64 3.59 3.57 3.63 3.15 3.14 3.23 3.27 3.25 3.35 3.35 3.33 3.33 3.28 3.27 3.32 3.37 3.35 3.42 3.48 3.45 3.52 3.50 3.51 3.51 3.45 3.42 3.51 3.66 3.59 3.65 3.66 3.62 3.68 3.71 3.70 3.70 3.64 3.62 3.63 4.06 4.06 4.11 4.01 3.95 3.97 3.94 3.96 4.02 3.98 3.96 4.04 4.33 4.28 4.22 4.27 4.30 4.38 4.42 4.46 4.47 4.41 4.39 4.42 4.65 4.59 4.54 4.56 4.58 4.63 4.70 4.73 4.74 4.73 4.70 4.71 4.32 4.27 4.22 4.25 4.27 4.33 4.41 4.45 4.45 4.42 4.39 4.42 4.48 4.40 4.33 4.37 4.41 4.45 4.53 4.57 4.59 4.56 4.54 4.56 4.69 4.63 4.57 4.59 4.63 4.69 4.75 4.80 4.81 4.79 4.75 4.74 5.10 5.07 5.02 5.01 5.01 5.03 5.09 5.11 5.12 5.13 5.11 5.10 4.52 4.46 4.40 4.45 4.48 4.54 4.59 4.61 4.61 4.60 4.58 4.59 4.86 4.82 4.78 4.75 4.77 4.83 4.89 4.92 4.94 4.92 4.89 4.91 4.57 4.51 4.43 4.46 4.49 4.52 4.60 4.67 4.67 4.66 4.63 4.62 1962—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 4.08 4.09 4.01 3.89 3.88 3.90 4.02 3.97 3.94 3.89 3.87 3.87 3.32 3.28 3.19 3.08 3.09 3.24 3.30 3.31 3.18 3.03 3.03 3.12 3.55 3.40 3.30 3.21 3.21 3.31 3.37 3.38 3.28 3.21 3.15 3.22 3.21 3.08 3.03 2.98 2.98 3.06 3.10 3.10 3.01 2.94 2.89 2.93 3.44 3.28 3.19 3.11 3.09 3.16 3.24 3.23 3.12 3.04 3.00 3.09 3.54 3.40 3.31 3.21 3.21 3.35 3.41 3.44 3.33 3.23 3.18 3.27 4.01 3.83 3.66 3.55 3.55 3.65 3.72 3.74 3.66 3.62 3.53 3.57 4.39 4.40 4.36 4.30 4.25 4.27 4.31 4.32 4.28 4.20 4.20 4.20 4.70 4.70 4.67 4.63 4.58 4.59 4.63 4.64 4.61 4.57 4.55 4.52 4.42 4.42 4.39 4.33 4.28 4.28 4.34 4.35 4.32 4.28 4.25 4.24 4.55 4.56 4.53 4.49 4.43 4.44 4.49 4.49 4.46 4.41 4.40 4.38 4.74 4.74 4.71 4.66 4.62 4.62 4.65 4.66 4.62 4.61 4.59 4.54 5.08 5.07 5.04 5.02 5.00 5.02 5.05 5.06 5.03 4.99 4.96 4.92 4.57 4.57 4.52 4.46 4.42 4.45 4.52 4.51 4.45 4.40 4.39 4.40 4.92 4.90 4.88 4.86 4.83 4.86 4.90 4.90 4.88 4.85 4.83 4.76 4.61 4.62 4.60 4.56 4.50 4.47 4.48 4.50 4.49 4.46 4.42 4.41 1963—Jan.. Feb.. Mar. Apr., May. June, July. Aug. Sept. Oct.. Nov. Dec 3.88 3.92 3.93 3.97 3.97 4.00 4.01 3.99 4.04 4.07 4.10 4.14 3.12 3.18 3.11 3.11 3.15 3.27 3.29 3.22 3.27 3.32 3.41 3.34 3.22 3.24 3.21 3.21 3.21 3.31 3.31 3.28 3.31 3.33 3.36 3.33 2.95 2.99 2.97 2.97 2.99 3.09 3.10 3.09 3.13 3.15 3.17 3.12 3.08 3.11 3.08 3.07 3.09 3.19 3.19 3.16 3.20 3.22 3.26 3.23 3.26 3.28 3.24 3.24 3.24 3.33 3.31 3.30 3.33 3.33 3.39 3.35 3.56 3.57 3.56 3.55 3.54 3.62 3.60 3.59 3.58 3.59 3.62 3.61 4.18 4.16 4.16 4.20 4.21 4.22 4.25 4.26 4.30 4.31 4.31 4.35 4.49 4.48 4.47 4.47 4.48 4.47 4.49 4.50 4.52 4.52 4.54 4.55 4.21 4.19 4.19 4.21 4.22 4.23 4.26 4.29 4.31 4.32 4.33 4.35 4.37 4.36 4.34 4.35 4.36 4.36 4.39 4.40 4.41 4.43 4.44 4.46 4.48 4.46 4.45 4.46 4.46 4.45 4.47 4.48 4.50 4.51 4.54 4.54 4.91 4.89 4.88 4.87 4.85 4.84 4.84 4.83 4.84 4.83 4.84 4.85 4.38 4.37 4.38 4.40 4.40 4.40 4.43 4.45 4.46 4.47 4.47 4.48 4.72 4.69 4.65 4.63 4.63 4.61 4.62 4.63 4.65 4.66 4.68 4.68 4.38 4.37 4.38 4.39 4.39 4.40 4.42 4.42 4.44 4.44 4.45 4.49 11. BOND YIELDS, BY TYPE OF SECURITY — Continued B. WEEKLY, 1941-63 [Per cent per annum] Corporate bonds Government bonds Moody's State and local (Standard and Poor's) Standard and Poor's AAA 2.04 2.09 2 11 2.15 2.06 2.17 2 14 2.17 2.88 2.87 2 86 2.86 2 17 2.21 2.23 2.24 2 15 2 21 2.22 2.32 Mar 1 8 15 22 29 2.18 2 17 2 11 2.08 2.10 Apr 5 12 19 26 Week ending— United States (longterm) By rating By group Total Aaa Aa A Baa Industrial Railroad Public utility 3.36 3.37 3.36 3.36 2.72 2.75 2.74 2.76 2.91 2.94 2.95 2.96 3.36 3.37 3.36 3.36 4.43 4.41 4.38 4.37 2.92 2.95 2.96 2.97 4.00 3.99 3.96 3.95 3.14 3.16 3.16 3.17 2 88 2.87 2.89 2.88 3.36 3.38 3.39 3.42 2.76 2.76 2.76 2.79 2.96 2.98 2.99 3.02 3.36 3.38 3.37 3.39 4.36 4.40 4.41 4.46 2.97 2.99 2.99 3.02 3.94 3.97 3.98 4.03 3.17 3.18 3.19 3.20 2.32 2 31 2 31 2.26 2.22 2.89 2 89 2.88 2.91 2.93 3.41 3.39 3.38 3.38 3.40 2.79 2.78 2.78 2.78 2.83 3.01 3.00 3.00 2.99 3.04 3.38 3.37 3.36 3.36 3.38 4.44 4.41 4.39 4.36 4.35 3.02 3.01 3.00 2.99 3.05 4.02 4.00 3.98 3.97 3.97 3.18 3.17 3.17 3.16 3.18 2.12 2 13 2.08 2.02 2.23 2 22 2 21 2.18 2.92 2 93 2 91 2.90 3.39 3.40 3.41 3.39 2.82 2.82 2.83 2.82 3.05 3.04 3.05 3.02 3.38 3.38 3.39 3.37 4.33 4.34 4.35 4.34 3.06 3.06 3.07 3.05 3.95 3.96 3.97 3.97 3.17 3.17 3.17 3.15 May 3 10 17 24 31 2 02 2 04 2 04 2.06 2.02 2 18 2 17 2 14 2 12 2.11 2.88 2 89 2 87 2.88 2.87 3.38 3.37 3.36 3.37 3.37 2.81 2.81 2.82 2.82 2.82 3.01 3.00 2.99 2.99 2.99 3.36 3.34 3.34 3.34 3.33 4.32 4.31 4.31 4.32 4.33 3.04 3.02 3.02 3.02 3.01 3.95 3.94 3.94 3.95 3.96 3.14 3.14 3.13 3.13 3.13 June 7 14 21 28 2.03 2 02 2 02 1.99 2.08 2 08 2 08 2.07 2.86 2 86 2 85 2.83 3.36 3.35 3.33 3.32 2.81 2.78 2.77 2.75 2.98 2.96 2.94 2.92 3.33 3.32 3.31 3.29 4.33 4.32 4.31 4.29 3.01 2.97 2.96 2.93 3.96 3.95 3.95 3.94 3.12 3.11 3.09 3.08 July 5 12 19 26 1.98 1 99 1 99 1.98 2.05 2 03 2.04 2.03 2.83 2 82 2.82 2.82 3.31 3.30 3.30 3.29 2.75 2.74 2.74 2.74 2.92 2.91 2.90 2.90 3.28 3.27 3.26 3.25 4.30 4.29 4.28 4.27 2.92 2.91 2.90 2.90 3.94 3.94 3.93 3.92 3.08 3.08 3.07 3.06 1 97 2 01 2 04 2 02 2.00 2 00 1.98 2 01 2 01 2.01 2 80 2 81 2 81 2 79 2.79 3 29 3.28 3 29 3.30 3.29 2 74 2.74 2.75 2.75 2.74 2.89 2.89 2.90 2.91 2.91 3.25 3.25 3.25 3.24 3.24 4.27 4.26 4.27 4.29 4.28 2.90 2.89 2.90 2.90 2.89 3.91 3.90 3.92 3.93 3.93 T 1.99 2 01 2.03 2 03 2.00 1 99 1.99 1 99 2.79 2 79 2.79 2 78 3.29 3.29 3.30 3.31 2.74 2.74 2.75 2.75 2.91 2.91 2.92 2.91 3.23 3.24 3.24 3.24 4.27 4.28 4.30 4.33 2.88 2.89 2.89 2.88 3.93 3.93 3.95 3.97 3.06 3.07 3.07 3.07 2 01 2 00 2.00 2.35 1.96 1 92 1.90 1.90 2.77 2 77 2.76 2.76 3.29 3.28 3.28 3.28 2.74 2.73 2.73 2.73 2.89 2.88 2.88 2.88 3.23 3.21 3.21 3.21 4.31 4.27 4.28 4.28 2.87 2.85 2.85 2.85 3.95 3.93 3.93 3.92 3.06 3.05 3.05 3.06 1941—Jan 4 11 18 25 Feb. 1 8 15 22 Aug 2 9 16 23 30 Sept. 6 13 20 27 Oct 4 11 18 25 . . . . . . . . . . . . . . . . . . 1 Nov. 1.. 8.. 15.. 22.. 29.. 2.34 2.33 2.33 2.35 2.35 1.89 1.89 1.90 1.89 1.90 2.76 2.76 2.75 2.75 2.76 3.27 3.26 3.27 3.27 3.27 2.73 2.72 2.72 2.72 2.72 2.86 2.86 2.86 2.86 2.87 3.20 3.19 3.19 3.19 3.19 4.28 4.26 4.28 4.29 4.29 2.85 2.84 2.84 2.85 2.85 3.92 3.90 3.91 3.92 3.91 3.05 3.04 3.04 3.04 3.04 Dec. 6.. 13.. 20.. 27.. 2.40 2.50 2.50 2.50 1.91 2.38 2.29 2.32 2.84 2.85 2.87 2.86 3.27 3.35 3.37 3.38 2.72 2.79 2.81 2.84 2.88 2.96 2.96 2.97 3.19 3.26 3.28 3.31 4.28 4.39 4.40 4.41 2.85 2.95 2.95 2.97 3.92 3.99 4.01 4.02 3.04 3.11 3.14 3.16 1942—Jan. 3.. 10.. 17.. 24.. 31.. 2.50 2.49 2.49 2.47 2.47 2.37 2.37 2.29 2.28 2.37 2.86 2.84 2.86 2.85 2.86 3.39 3.35 3.34 3.34 3.34 2.86 2.83 2.83 2.83 2.84 2.98 2.96 2.96 2.96 2.96 3.32 3.30 3.30 3.30 3.29 4.41 4.31 4.28 4.28 4.27 2.99 2.97 4.02 3.95 3.92 3.92 3.92 3.16 3.13 3.13 3.13 3.14 Feb. 7.. 14.. 21.. 28., 2.47 2.48 2.48 2.48 2.49 2.51 2.63 2.58 2.85 2.85 2.87 2.88 3.35 3.35 3.36 3.37 2.84 2.84 2.85 2.86 2.97 2.97 2,98 2.99 3.29 3.28 3.29 3.30 4.28 4.29 4.30 4.30 2.97 2.98 2.99 i 3.93 3.93 3.95 3.95 3.14 3.13 3.14 3.16 Mar. 7.. 14.. 21.. 28.. 2.48 2.47 2.46 2.43 2.59 2.60 2.59 2.52 2.88 2.88 2.89 2.87 3.37 3.38 3.38 3.36 2.87 2.87 2.87 2.85 3.00 3.01 3.01 2.99 3.31 3.32 3.33 3.31 4.30 4.31 4.32 4.29 2.99 3.01 3.01 3.00 3.95 3.95 3.95 3.94 3.17 3.18 3.19 3.16 Apr. 4.. 11.. 18.. 25.. 2.43 2.43 2.44 2.46 2.49 2.43 2.43 2.41 2.85 2.85 2.84 2.85 3.35 3.34 3.34 3.34 2.84 2.83 2.83 2.83 2.97 2.97 2.97 2.98 3.30 3.30 3.30 3.30 4.26 4.25 4.26 4.26 2.96 2.95 2.96 2.96 3.93 3.93 3.94 3.95 3.14 3.13 3.13 3.13 May 2.. 9.. 16.. 23., 30., 2.47 2.47 2.46 2.44 2.44 2.46 2.46 2.45 2.45 2.43 2.86 2.85 2.85 2.86 2.86 3.36 3.35 3.36 3.36 3.37 2.84 2.84 2.85 2.85 2.85 3.00 3.00 3.00 3.00 3.01 3.31 4.28 4.26 4.27 4.28 4.29 2.97 2.97 2.97 2.98 2.98 3.97 3.96 3.97 3.98 4.00 3.14 3.13 3.13 3.13 3.12 June 6.. 13., 20. 27., 2.43 2.43 2.43 2.44 2.43 2.39 2.35 2.35 2.87 2.87 2.86 2.86 3.38 3.38 3.37 3.37 2.85 2.86 2.84 2.84 3.01 3.01 3.01 3.01 3.31 3.30 3.30 i 4.31 4.33 4.33 4.34 2.98 2.99 2.97 2.96 4.02 4.02 4.03 4.04 3.13 3.12 3.12 3.12 July 4., 11. 18. 25., 2.44 2.46 2.46 2.46 2.35 2.35 2.33 2.30 2.85 2.85 2.84 2.84 3.37 3.36 3.35 3.35 2.83 2.83 2.83 2.83 3.00 3.00 2.99 3.00 3.29 3.29 3.28 3.27 4.33 4.31 4.30 4.30 2.96 2.95 2.94 2.94 4.03 4.02 4.02 4.02 3.11 3.10 3.09 Aug. 1., 8. 15. 22. 29. 2.46 2.48 2.48 2.47 2.46 2.29 2.28 2.28 2.28 2.26 2.85 2.85 2.85 2.84 2.84 3.34 3.34 3.34 3.34 3.33 2.82 2.82 2.81 2.81 2.80 2.99 3.27 3.27 3.26 3.27 3.27 4.29 4.29 4.28 4.28 4.27 2.94 2.94 2.94 2.95 2.95 4.01 4.00 3.99 3.98 3.97 3.09 3.08 Sept. 5. 12. 19. 26. T 2.26 2.25 2.24 2.24 2.85 2.84 2.84 2.84 3.33 3.33 3.33 3.32 2.81 2.81 2.80 2.99 2.98 2.97 1 3.27 3.26 3.25 3.25 4.27 4.26 4.27 4.27 2.95 2.95 2.96 2.96 3.97 3.96 3.96 3.94 3.08 3.08 3.07 3.08 Oct. 3. 10. 17. 24. 31. 1 2.46 2.45 2.44 2.46 2.26 2.25 2.23 2.20 T 2.82 2.84 2.85 2.84 2.85 3.32. 3.31 3.30 3.31 3.31 2.96 2.95 2.95 2.95 2.95 3.25 3.24 3.24 3.24 3.25 4.26 4.25 4.23 4.24 4.24 2.94 2.94 2.93 2.93 2.94 3.93 3.92 3.91 3.92 3.92 3.08 3.07 3.07 3.07 3.07 Nov. 7. 14. 21. 28. 2.46 2.46 2.47 2.48 i 2.20 2.84 2.84 2.85 2.85 3.30 3.30 3.31 3.31 2.80 2.79 2.80 2.80 2.94 2.94 2.94 2.95 3.24 3.24 3.24 3.23 4.23 4.23 4.24 4.26 2.94 2.93 2.92 2.92 3.92 3.93 3.94 3.95 3.06 3.06 3.06 3.06 Dec. 5. 12. 19. 26. 2.49 2.49 2.49 2.49 2.22 2.25 2.28 2.28 2.86 2.85 2.87 2.86 3.32 3.33 3.33 3.32 2.81 2.81 2.82 2.81 2.96 2.96 2.96 2.96 3.23 3.23 3.23 3.23 4.28 4.29 4.29 4.26 2.94 2.94 2.94 2.94 3.96 3.97 3.97 3.95 3.07 3.07 3.08 3.07 t i T T T T 11. BOND YIELDS, BY TYPE OF SECURITY — Continued B. WEEKLY, 1941-63 — Continued [Per cent per annum] Corporate bonds Government bonds Moody's 1943_j a r , State and local (Standard and Poor's) Standard and Poor's AAA 2.28 2.28 2.28 2.26 2 26 2.86 2.86 2 84 2.84 2 83 1 2.24 2.23 2.21 2.20 2 47 2.48 Week ending— 2.21 2.22 2.22 2.21 United States (longterm) 2 9 16 23 30 2.48 2.46 T Feb 6 13 20 27 2.46 2 47 2.47 Mar 6 13 20 27 T By rating By group Total Aaa Aa A Baa Industrial Railroad Public utility 3.32 3.31 3.28 3.27 3 25 2.81 2.81 2.80 2.79 2.78 2.96 2.95 2.93 2.92 2 91 3.23 3.22 3.21 3.20 3 18 4.26 4.23 4.17 4.14 4 11 2.93 2.92 2.91 2.90 2 88 3.94 3.92 3.88 3.85 3.82 3.07 3.07 3.06 3.05 3 04 2.82 2.82 2 82 2.82 3.23 3.23 3.23 3.22 2.77 2.90 2.89 2.89 2.88 3.17 3.17 3.16 3.16 4.09 4.09 4.07 4.06 T 3.80 3.80 3.78 3.76 3.03 3.02 3.01 3.01 2 83 T 3.21 3.21 3.20 3.20 3.16 3.15 3.14 4.02 4.02 4.02 4.01 1 T 2.89 2.88 2.88 2.88 2.88 2.87 2.87 3.74 3.74 3.73 3.72 3.01 3.01 3.00 3.00 ! 2.76 2.88 2.88 2.89 2.88 3.97 3.95 3.98 3.97 2.87 2.86 2.87 2.86 3.70 3.68 3.70 3.69 3.00 3.00 3.01 3.01 2.83 2.82 i 3.19 3.18 3.19 3.19 T i 2.77 2.76 T 1 2.21 2.21 2.21 2.19 May 1 8 15 22 29 2.48 2.47 2.46 2.46 2.45 2.17 2.14 2.14 2.12 2.10 2.82 2.82 2.82 2.81 2.80 3.18 3.18 3.17 3.16 3.16 2.75 2.75 2.75 2.74 2.74 2.88 2.88 2.88 2.87 2.86 3.14 3.13 3.12 3.95 3.93 3.91 3.91 3.90 2.87 2.86 2.86 2.86 2.86 3.68 3.66 3.65 3.63 3.62 3.01 3.01 3.00 3.00 2.99 June 5 12 19 26 2.45 2.45 2.45 2.45 2.09 2.09 2.07 2.05 2.80 2.80 2.80 2.79 3.15 3.15 3.14 3.14 2.73 2.73 2.72 2.72 2.86 2.85 2.85 2.84 3.12 3.11 3.11 3.11 3.89 3.89 3.89 3.88 2.86 2.85 2.83 2.83 3.61 3.62 3.61 3.61 2.99 2.98 2.98 2.98 2.46 2.45 2.45 2 46 2.46 2.04 2.03 .97 .96 .92 2.78 2.77 2.77 2.77 2.76 3.13 3.12 3.11 3.10 3.10 2.71 2.70 2.69 2.84 2.83 2.82 2.81 2.80 3.10 3.10 3.10 3.09 3.09 3.86 3.84 3.81 3.80 3.80 2.82 2.81 2.80 2.79 3.60 3.59 3.57 3.55 3.55 2.97 2.96 2.95 2.95 2.95 2.46 2.46 2.47 2.47 .91 .91 .91 .91 2.77 2.77 2.76 2.77 3.10 3.10 3.10 3.11 2.80 2.81 2.81 2.82 3.09 3.08 3.08 3.09 3.81 3.81 3.81 3.82 2.79 3.56 3.55 3.55 3.56 2.95 2.95 2.96 2.96 2.48 2.48 2.48 2.48 .93 .92 .92 1.92 T 3.10 3.11 3.11 3.12 i 3.08 3.09 3.10 3.11 3.82 3.82 3.82 3.83 2.80 2.80 2.81 2.83 T 2.69 2.70 2.81 2.82 2.82 2.83 2.96 2.96 2.96 2.97 2 48 2.47 2.48 2.48 2.48 1.92 1.91 1.89 1.86 1.86 3.12 3.12 3.12 3.11 3.11 2.71 2.70 2.70 2.70 2.70 2.83 2.83 2.83 2.83 2.82 3.10 3.10 3.11 3.10 3.10 3.83 3.83 3.82 3.81 3.81 2.83 2.83 2.82 2.82 2.82 Apr. 3 10 17 24 . July 3 10 17 24 31 Aug 7 14 21 28 . . . . . . SeDt 4 ii:::.:.::: 18 25 Oct 2 9 16 23 30 . . . . . i 2.77 2.78 2.79 T I T i 1 3.56 3.55 3.55 2.97 2.96 2.96 2.96 2.96 Nov. 6., 13. 20. 27. 2.48 2.48 2.49 2.48 .86 1.88 1.90 1.95 2.79 2.79 2.80 2.82 3.11 3.13 3.13 3.13 2.69 2.71 2.71 2.72 2.82 2.84 2.84 2.86 3.10 3.11 3.11 3.12 3.82 3.84 3.84 3.83 2.81 2.84 2.85 2.86 3.55 3.56 3.56 3.56 2.97 2.98 2.98 2.99 Dec. 4. 11. 18. 25. 2.49 2.00 2.02 2.01 2.00 2.83 2.83 2.84 2.83 3.15 3.15 3.14 3.14 2.74 2.74 2.74 2.74 2.88 2.87 2.87 2.86 3.13 3.13 3.13 3.12 3.84 3.84 3.83 3.81 2.87 2.87 2.86 2.85 3.57 3.57 3.57 3.56 3.00 3.00 3.00 3.00 1944__j an . 1. 8. 15. 22., 29. .98 1.96 1.94 1.90 1.88 2.83 2.81 2.80 2.80 2.81 3.13 3.12 3.11 3.10 3.11 2.74 2.73 2.71 2.72 2.73 2.84 2.84 2.83 2.83 2.84 3.12 3.12 3.11 3.10 3.11 3.81 3.80 3.78 3.75 3.74 2.84 2.84 2.84 2.82 2.83 3.55 3.54 3.51 3.50 3.49 2.99 2.98 2.98 2.99 2.99 Feb. 5.. 12.. 19., 26., 1.86 1.85 1.85 1.85 T 3.10 2.74 2.73 2.74 2.74 2.84 2.84 2.83 2.83 3.10 3.10 3.11 3.10 3.73 3.72 3.72 3.73 2.83 2.82 2.83 2.83 3.50 3.49 3.49 3.49 2.99 2.98 2.98 2.98 Mar. 4., 11. 18., 25. T i T i T 1.84 1.84 1.84 1.84 2.81 2.80 2.80 2.79 i 3.10 3.09 2.74 2.74 2.74 2.73 2.83 2.83 2.83 2.82 3.10 3.10 3.10 3.09 3.72 3.71 3.71 3.70 2.84 2.83 2.83 2.83 3.49 3.48 3.48 3.47 2.98 2.97 2.97 2.96 2.79 2.79 2.78 2.78 2.78 3.09 3.09 3.08 3.08 3.08 2.74 2.74 2.74 2.74 2.73 2.83 2.83 2.82 2.82 2.82 3.10 3.09 3.09 3.08 3.09 3.70 3.70 3.68 3.68 3.67 2.84 2.84 2.83 2.83 2.83 3.47 3.47 3.45 3.44 3.44 2.97 i 2.48 2.49 1.83 1.83 1.84 1.86 1.88 1.88 1.87 1.86 1.85 2.78 2.77 2.77 2.77 3.08 3.07 3.06 3.05 2.73 2.73 2.73 2.72 2.82 2.82 2.81 2.81 3.08 3.08 3.07 3.07 3.66 3.65 3.64 3.61 2.83 2.82 2.82 2.80 3.43 3.42 3.41 3.40 2.97 2.96 2.96 June 3., 10., 17., 24., 1.85 1.86 1.87 1.87 2.76 2.78 2.78 2.79 3.05 3.05 3.05 3.05 2.72 2.73 2.73 2.73 2.81 2.82 2.82 2.81 3.07 3.07 3.07 3.06 3.60 3.60 3.60 3.59 2.80 2.80 2.79 2.78 3.40 3.40 3.40 3.39 2.96 2.97 2.97 2.97 July 1., 8., 15., 22., 29., 2.79 2.78 2.78 2.77 2.78 3.04 3.04 3.04 3.03 3.04 2.72 2.72 2.72 2.72 2.72 2.81 2.80 2.80 2.80 2.81 3.06 3.05 2.49 1.86 1.86 1.84 1.82 1.82 3.58 3.57 3.57 3.57 3.56 2.78 2.78 2.78 2.78 2.80 3.39 3.38 3.37 3.37 3.36 2.96 2.96 2.95 2.95 2.94 Aug. 5., 12., 19., 26., 2.48 2.48 2.48 2.48 1.82 1.81 1.81 1.82 2.78 2.77 2.77 2.77 3.03 3.03 3.03 3.02 2.71 2.72 2.72 2.72 2.80 2.80 2.79 1 T 3.05 3.04 3.04 3.55 3.55 3.55 3.55 2.79 2.80 2.79 2.79 3.35 3.34 3.34 3.34 2.95 2.95 2.95 2.94 Sept. 2., 9., 16.. 23.. 30.. 2.48 2.47 2.47 2.48 1.82 1.82 1.83 1.84 1.84 2.76 3.03 i 2.79 2.80 2.79 2.80 2.80 2.79 2.79 3.35 T 3.05 3.06 3.05 3.04 3.04 3.56 T 2.71 2.71 2.71 2.72 2.72 2.94 2.94 2.94 2.94 2.95 i 2.76 2.77 3.03 3.02 3.02 3.03 2.72 2.72 2.72 2.73 2.80 2.80 2.81 2.82 3.03 3.02 3.01 3.01 3.56 3.55 3.54 3.54 2.79 2.79 2.78 2.79 3.35 3.33 3.32 3.31 2.95 2.95 2.97 2.98 2.77 2.77 2.76 2.75 3.03 3.03 3.02 3.01 2.73 2.73 2.73 2.72 2.82 2.81 2.80 2.79 3.01 3.01 3.01 3.00 3.54 3.55 3.54 3.53 2.79 2.79 2.77 2.76 3.30 3.30 3.30 3.28 2.99 2.99 2.99 2.98 2.74 2.74 2.73 2.74 2.73 3.00 2.99 2.99 2.98 2.98 2.71 2.71 2.70 2.70 2.70 2.77 2.76 2.76 2.76 2.76 2.99 2.99 2.98 2.98 2.99 3.51 3.50 3.49 3.48 3.48 2.75 2.75 2.74 2.75 2.74 3.27 3.26 3.25 3.24 3.24 2.97 2.96 2.97 2.96 2.97 Apr. 1., 8., 15. 22., 29., May 6., 13., 20. 27., Oct. 7.. 14., 21., 28.. 2.49 2.48 T 1 r t Nov. 4.. 11. 18., 25., Dec. 2.. 9., 16.. 23., 30., 1.84 1.87 1.88 i i 2.48 2.47 2.47 .88 1.87 .87 1.86 1.86 i T T i T i T 11. BOND YIELDS, BY TYPE OF SECURITY —Continued B. WEEKLY, 1941-63 — Continued [Per cent per annum] Corporate bonds Government bonds Week ending— United States (longterm) Moody's State and local (Standard and Poor's) Standard and Poor's AAA By rating By group Total Aaa Aa A Baa Industrial Railroad Public utility 6 13 20 27 2.45 2.45 2.44 2.43 1 85 1 83 1.81 1.79 2 67 2.66 2.65 2.65 2.98 2.98 2.97 2.97 2.70 2.70 2.69 2.69 2.76 2.76 2.76 2.76 2.98 2.99 2.97 2.98 3.48 3.47 3.45 3.45 2.74 2.73 2.73 2.72 3.24 3.23 3.22 3.22 2.96 2.97 2.97 2.97 Feb. 3 10 17 24 2.41 2.40 2.39 2.37 1.77 1.76 1 75 1 67 2.64 2.63 2.61 2.61 2.96 2.95 2.94 2.93 2.68 2.66 2.65 2.65 2.75 2.74 2.73 2.72 2.97 2.96 2.94 2.93 3.44 3.42 3.41 5.40 2.72 2.70 2.69 2.68 3.20 3.18 3.16 3.15 2.96 2.95 2.95 2.95 Mar. 3 10 17 24 31 2 38 2.40 2.41 2.40 2.39 1 65 1.64 1.61 1 59 1 60 2.60 2.59 2.59 2.59 2.58 2.92 2.91 2.91 2.91 2.91 2.63 2.62 2.62 2.61 2.60 2.72 2.72 2.72 2.72 2.73 2.93 2.93 2.92 2.91 2.91 3.39 3.38 3.38 3.38 3.38 T 2.68 3.14 3.12 3.12 3.10 3.10 2.94 2.94 2.93 2.94 2.94 Apr. 7 14 21 28 2.39 2.38 2 40 2.39 1 58 1.58 1 58 1 54 2.59 2.59 2.59 2.58 2.91 2.90 2.90 2.90 2.61 2.73 2.73 2.72 2.73 2.91 2.90 2.90 2.90 3.38 3.36 3.36 3.35 2.69 2.69 2.69 2.69 3.10 3.08 3.07 3.06 2.94 2.93 2.94 2.94 May 5 12::::: 19 26 2.39 2.40 2 39 2 38 1 54 1.54 1 59 1 63 2.58 2.59 2 59 2.60 2.89 2.89 |2.89 2.88 2.61 2.62 2.62 1 2.73 2.73 2.72 2.71 2.89 2.88 2.88 2.88 3.33 3.33 3.33 3.32 2.68 2.68 2.69 2.69 3.05 3.05 3.05 3.05 2.94 2.94 2.93 2.92 2 37 2.36 2 36 2 34 2.34 1 61 1.59 1 58 1 57 1.57 2.60 2.60 2.60 2.61 2.62 2.88 2.88 2 87 2.86 2.86 2.62 2.62 2.61 2.61 2.61 2.71 2.70 2.69 2.68 2.69 2.88 2.87 2.87 2.86 2.85 3.31 3.31 3.30 3.29 3.27 2.69 2.69 2.68 2.68 2.68 3.04 3.04 3.03 3.02 3.01 2.91 2.90 2.89 2.88 2.88 2.34 2 34 2 34 2.36 1.57 1 57 1.57 1.58 2.60 2 60 2.60 2.61 2.85 2.85 2.85 2.85 2.60 2.60 2.60 2.60 2.69 2.68 2.68 2.69 2.85 2.84 2.85 2.85 3.27 3.26 3.26 3.27 2.68 2.67 2.68 2.69 3.01 3.00 3.01 3.01 2.88 2.87 2.87 2.86 2.35 2 34 2.36 2 38 1.60 1 64 1.71 1 78 2.61 2.61 2.61 2.63 2.86 2.85 2.86 2.86 2.61 2.60 2.61 2.62 2.68 2.69 2.70 2.70 2.86 2.85 2.84 2.85 3.27 3.26 3.27 3.28 2.69 2.69 2.68 2.69 3.01 3.01 3.02 3.03 2.86 2.86 2.86 2.87 2 37 2.37 2.38 2.37 2 36 1 78 1.77 1.79 1.80 1.81 2.62 2.62 2.61 2.64 2.64 2.86 2.85 2.86 2.86 2.85 2.62 2.62 2.62 2.63 2.62 2.70 2.69 2.70 2.71 2.71 2.85 2.84 2.85 2.86 2.85 3.26 3.25 3.25 3.24 3.24 2.68 2.67 2.67 2.67 2.66 3.03 3.03 3.05 3.06 3.05 2.86 2.85 2.85 2.85 2.85 2 36 2.35 2.34 2.34 1.80 1.78 1.75 1.73 2.63 2.62 2.85 2.84 2.83 2.84 2.61 2.61 2.62 2.62 2.71 2.70 2.69 2.69 2.85 2.84 2.83 2.84 3.23 3.21 3.20 3.20 2.66 2.65 2.65 2.66 3.05 3.04 3.03 3.02 2.85 2.84 2.83 2.83 1945 Jan June 2 9 16 23 30 , July 7 14 21 28 . . Aug. 4 11 18 25 . Sept 1 8 15 22 29 . Oct 6 13 20 27 . . . . . . . . . . . . , • T i Nov. 3. 10. 17. 24. 2.35 2.33 2.33 2.33 1.72 1.71 1.70 1.69 2.62 2.60 1 2.83 2.82 2.82 2.81 2.61 2.62 2.62 2.61 2.69 2.68 2.68 2.67 2.84 2.82 2.81 2.81 3.17 3.16 3.15 3.14 2.65 2.65 2.65 2.64 3.01 3.00 2.99 2.98 2.82 2.82 2.81 2.80 Dec. 1. 8. 15. 22. 29. 2.33 2.32 2.34 2.34 2.32 1.69 1.67 1.64 1.63 1.63 2.60 2.61 2.60 2.59 2.58 2.81 2.81 2.80 2.79 2.79 2.61 2.62 2.62 2.61 2.60 2.68 2.68 2.68 2.68 2.67 2.80 2.80 2.80 2.80 2.79 3.13 3.12 3.11 3.09 3.07 2.64 2.64 2.64 2.64 2.63 2.99 2.98 2.97 2.96 2.95 2.80 2.80 2.80 2.79 2.78 1946—Jan. 5. 12. 19. 26. 2.29 2.23 2.19 2.18 1.62 1.61 1.56 1.53 2.57 2.54 2.52 2.49 2.77 2.75 2.73 2.71 2.58 2.57 2.54 2.52 2.66 2.64 2.61 2.60 2.78 2.76 2.73 2.71 3.05 3.03 3.02 3.00 2.62 2.60 2.57 2.56 2.93 2.91 2.89 2.88 2.76 2.74 2.72 2.69 Feb. 2. 9. 16. 23. 2.17 2.14 2.10 2.10 1.52 1.49 1.48 1.49 2.48 2.48 2.46 2.46 2.69 2.68 2.67 2.67 2.50 2.49 2.48 2.48 2.59 2.57 2.56 2.56 2.70 2.70 2.69 2.69 2.98 2.96 2.94 2.94 2.55 2.54 2.54 2.54 2.86 2.84 2.82 2.82 2.68 2.67 2.65 2.64 Mar. 2. 9. 16. 23. 30. 2.10 2.10 2.09 2.09 2.08 1.49 1.49 1.49 1.49 1.48 2.45 2.45 2.44 2.44 2.44 2.67 2.66 2.66 2.66 2.66 2.48 2.48 2.47 2.47 2.46 2.56 2.54 2.54 2.54 2.53 2.70 2.69 2.69 2.69 2.68 2.94 2.94 2.94 2.95 2.95 2.55 2.54 2.54 2.55 2.54 2.83 2.82 2.81 2.80 2.79 T 20. 27. 2.04 2.03 2.08 2.14 1.44 1.44 1.44 1.49 2.43 2.43 2.43 2.47 2.66 2.65 2.66 2.69 2.46 2.46 2.46 2.48 2.54 2.54 2.55 2.58 2.68 2.67 2.68 2.71 2.94 2.94 2.95 2.98 2.55 2.56 2.56 2.59 2.78 2.77 2.78 2.81 2.67 May 4. 11. 18. 25. 2.18 2.19 2.20 2.19 1.56 1.53 1.54 1.54 2.50 2.49 2.50 2.48 2.70 2.71 2.50 2.51 2.51 2.51 2.58 2.58 2.59 2.58 2.73 2.72 2.73 3.00 3.01 3.02 3.03 2.61 2.61 2.61 2.60 2.83 2.82 2.84 2.84 2.68 2.69 2.70 2.70 June 1. 8. 15. 22. 29. 2.18 2.17 2.15 2.15 2.16 1.55 1.55 1.55 1.55 1.56 2.49 2.47 2.47 2.46 2.47 2.51 2.50 2.49 2.48 2.49 2.58 2.59 2.59 2.59 2.59 T 2.73 2.60 2.60 2.59 2.58 2.59 2.84 2.85 2.85 2.85 2.85 2.70 2.70 2.70 2.69 2.69 July 6. 13. 20. 27. 2.15 2.15 2.20 2.20 1.58 1.59 1.60 1.62 2.47 2.47 2.49 2.49 2.71 2.70 2.71 2.71 2.49 2.48 2.49 2.49 2.59 2.58 2.59 2.59 2.72 2.71 2.72 2.72 3.03 3.04 3.03 i 2.58 2.57 2.58 2.58 2.86 2.85 2.87 2.87 2.69 2.68 2.69 2.69 Aug. 3. 10. 17. 24. 31. 2.23 2.22 2.22 2.23 2.25 1.63 1.64 1.64 1.64 1.67 2.50 2.50 2.51 2.51 2.51 2.72 2.72 2.73 2.73 2.73 2.50 2.50 2.51 2.51 2.51 2.61 2.61 2.62 2.62 2.63 2.74 2.74 2.74 2.74 2.75 3.03 3.03 3.04 3.04 3.03 2.59 2.58 2.59 2.58 2.58 2.88 2.89 2.89 2.90 2.90 2.70 2.70 2.70 2.70 2.71 Sept. 7. 14. 21. 28, 2.27 2.29 2.30 2.28 1.69 1.74 1.76 1.81 2.52 2.55 2.57 2.58 2.75 2.78 2.80 2.82 2.53 2.57 2.59 2.60 2.65 2.68 2.69 2.69 2.76 2.78 2.81 2.82 3.05 3.07 3.11 3.16 2.61 2.63 2.65 2.67 2.92 2.95 2.99 3.03 2.72 2.74 2.75 2.76 Oct. 5 12. 19, 26, 2.27 2.27 2.26 2.26 1.87 1.87 1.85 1.83 2.57 2.59 2.58 2.58 2.82 2.82 2.82 2.82 2.59 2.60 2.60 2.60 2.70 2.71 2.69 2.69 2.82 2.83 2.83 2.84 3.15 3.15 3.15 3.15 2.66 2.66 2.66 2.65 3.04 3.04 3.04 3.05 2.75 2.76 2.77 2.76 Nov. 2, 9, 16, 23, 30 2.24 2.24 2.25 2.26 2.27 1.77 1.77 1.77 1.79 1.87 2.58 2.58 2.57 2.58 2.60 2.83 2.82 2.82 2.83 2.84 2.60 2.59 2.59 2.59 2.60 2.69 2.69 2.69 2.70 2.70 2.85 2.84 2.83 2.84 2.85 3.16 3.15 3.15 3.17 3.19 2.66 2.65 2.65 2.66 2.67 3.06 3.04 3.04 3.05 3.07 2.77 2.77 2.77 2.77 2.77 Dec. 7, 14 21 28 2.27 2.25 2.23 2.22 1.93 1.96 2.00 1.99 2.60 2.61 2.60 2.59 2.84 2.83 2.83 2.82 2.61 2.62 2.61 2.60 2.70 2.70 2.69 2.68 2.85 2.83 2.83 2.82 3.19 3.17 3.17 3.16 2.67 2.67 2.67 2.66 3.07 3.04 3.04 3.03 2.78 2.78 2.77 2.76 Apr -4 VO .S: T i T i ' 11. BOND YIELDS, BY TYPE OF SECURITY — Continued B. WEEKLY, 1941-63 — Continued [Per cent per annum] Corporate bonds Government bonds State and local Week ending— 1947 Jan 4.. 11 18 25 United States (longterm) 2.22 2.22 2.22 2.20 Standard and Poor's 1 9ft .94 .92 .91 Moody's Moody's Total Aaa Aa A Baa Standard and Poor's AAA By rating By group Total Aaa Aa A Baa Industrial Railroad Public utility 2.58 2.56 2.55 2.53 2.81 2.80 2.79 2.78 2.59 2.58 2.57 2.56 2.67 2.66 2.65 2.63 2.81 2.80 2.78 2.78 3.16 3.14 3.14 3.13 2.65 2.64 2.62 2.62 3.03 3.01 3.00 3.00 2.75 2.75 2 73 2.71 2.63 2 64 2.64 2.65 2.78 2 78 2.79 2.80 3.12 3.12 3.12 3.13 2.62 2 62 2.61 2.60 2.99 2 99 3.00 3.01 2.71 2 72 2.72 2.73 Feb. 1 8 15 22 oo © 2.21 2 20 2.21 2.21 1.95 2.04 2.53 2 53 2.54 2.53 2.77 2 77 2.78 2.78 2.56 2 56 2.55 Mar 1 8 15 22 29 2.21 2 20 2 19 2.19 2.18 2.05 2 02 2 03 2.02 2.00 2.54 2 54 2 54 2 53 2.52 2.79 2 79 2 79 2.79 2.78 I 2.55 2.54 2.65 2 65 2 65 2.65 2.64 2.80 2 80 2 80 2.81 2.80 3.14 3 14 3.15 3.15 3.15 2.61 2 61 2 61 2.61 2.60 3.02 3 02 3 02 3.02 3.02 2.73 2 74 2 74 2 74 2.73 Apr. 5 12 19. . . 26 2.18 2 18 2.20 2.20 1.99 1 99 1 98 1.97 2^51 | 2.53 2.63 2.80 2 81 2.81 2.80 3.16 3.16 3.16 3.16 T 3.03 3 04 3.04 3.03 2.72 2 72 2 71 2.71 May 3 10 17. 24 31 2.20 2.20 2.20 2.19 2.19 1.97 1.95 1 94 1.94 1.95 2.80 2.81 2.82 2.83 2.83 3.15 3.15 3.16 3.18 3.19 3.03 3.03 3.05 3.07 3.08 2.71 2.71 2 71 2.72 June 7 14 21 28 2.20 2 21 2.24 2.24 2.83 2.82 2.82 2.83 3.20 3.22 3.22 3.21 July 5 12 • 19 26 2 25 2.83 2.83 2.82 2.81 3.20 3.18 3.18 3.17 2.61 2.62 2.62 3 09 3.07 3.06 3.05 .91 Q2 T 1 1 2.78 2 79 2.80 2.80 1 1.93 1 93 1 92 1.91 2.51 2.52 2.53 2.53 2.80 2.81 2.81 2.81 2.53 2.55 2.55 2.56 1 Ql 2.56 2.55 1 2.63 2.64 2.63 2.64 T i 2.60 2.61 T 3.08 3.10 3.10 3.10 T 1 2.72 T 1 91 1.90 1 90 2 53 2.52 2.51 2.52 2 81 2.80 2.80 2.80 i 1 91 1.91 1.93 1 92 | 2.52 2.53 2.51 2.51 2.52 2.79 2.79 2.79 2.79 2.80 2.55 2.56 2.56 1 2.64 2.65 2.81 2.80 2.81 2.81 2.81 3.17 3.16 3.16 3.17 3.18 2.62 2.62 2.62 2.63 2.63 3.04 3.03 3.03 3.03 3.05 2.72 2.73 2.73 2.80 2.82 2.85 2.89 2.57 2.58 2.62 2.64 2.65 2.67 2.69 2.73 2.81 2.83 2.86 2.89 3.18 3.20 3.24 3.28 2.63 2.65 2.68 2.71 3.04 3.06 3.10 3.14 2.73 2.75 2.78 2.81 2.92 2.93 2.95 2.96 2.68 2.69 2.71 2.71 2.76 2.77 2.80 2.80 2.91 2.92 2.95 2.96 3.31 3.33 3.35 3.37 2.73 2.74 2.77 2.77 3.18 3.19 3.22 3.23 2.84 2.85 2.87 2.89 Aug 2 9 16 23... 30 2.25 2.24 2 23 2.23 Sept. 6 13.. 20 27 2.23 2 24 2.23 2 24 1.92 2.52 2.54 2.57 2.58 Oct. 4 11 18 25 2.24 2 24 2.26 2.28 1.96 1 98 203 2.04 2.62 2.65 2.69 2.69 t i T 1 1 2 73 2.72 T i Nov. 1 8 15.... 22.... 29 2.31 2.34 2.36 2.36 2.37 2.08 2.11 2.14 2.21 2.25 2.69 2.70 2.72 2.76 2.78 2.97 2.98 3.00 3.03 3.06 2.71 2.73 2.75 2.78 2.81 2.81 2.81 2.83 2.87 2.90 2.98 2.99 2.99 3.02 3.05 3.39 3.41 3.43 3.45 3.46 2.78 2.79 2.81 2.85 2.88 3.25 3.27 3.28 3.31 3.33 2.89 2.89 2.91 2.94 2.96 Dec. 6. ... 13.... 20 27.... 2.37 2.37 2.37 2 41 2.27 2 33 2.35 2 35 2.81 2.84 2.81 2.85 3.09 3.12 3.11 3.13 2.83 2.86 2.84 2.86 2.92 2.94 2.92 2.94 3.10 3.15 3.15 3.18 3.49 3.51 3.51 3.53 2.90 2.92 2.90 2.91 3.36 3.41 3.42 3.45 2.99 3.02 3.01 3.02 1948—Jan. 3 10.... 17 24.... 31.... 2.45 2.46 2.43 2.42 2.45 2.48 2.27 2.27 2.28 2.26 2.30 1.76 1.76 1.76 1.74 1.78 2.01 2.01 2.02 2.00 2.04 2.43 2.44 2.45 2.43 2.47 2.87 2.88 2.89 2.87 2.91 2.84 2.81 2.81 2.80 2.82 3.17 3.13 3.12 3.12 3.13 2.90 2.85 2.85 2.85 2.86 2.98 2.95 2.95 2.94 2.94 3.22 3.18 3.17 3.17 3.17 3.56 3.53 3.51 3.52 3.53 2.95 2.91 2.90 2.90 2.91 3.48 3.45 3.43 3.44 3.43 3.06 3.03 3.03 3.02 3.03 2.54 2.55 2.56 2.55 2.38 2.40 2.43 2.45 1.84 1.85 1.89 1.92 2.12 2.14 2.19 2.21 2.55 2.57 2.60 2.62 3.00 3.02 3.04 3.05 2.83 2.82 2.81 2.81 3.13 3.13 3.12 3.10 2.87 2.86 2.85 2.83 2.94 2.94 2.93 2.91 3.18 3.18 3.17 3.15 3.53 3.54 3.54 3.52 2.92 2.91 2.90 2.89 3.44 3.44 3.44 3.42 3.04 3.03 3.03 3.01 2.57 2.55 2.52 2.50 2.46 2.45 2.44 2.43 1.96 1.96 1.96 1.96 2.21 2.20 2.19 2.17 2.62 2.60 2.58 2.55 3.05 3.03 3.02 3.02 2.81 2.80 2.81 2.80 3.11 3.10 3.10 3.10 2.83 2.83 2.84 2.83 2.91 2.90 2.91 2.90 3.14 3.13 3.13 3.13 3.53 3.53 3.53 3.54 2.89 2.89 2.89 2.89 3.42 3.41 3.41 3.40 3.01 3.00 3.01 3.01 2.48 2.43 2.39 2.36 2.41 2.38 2.38 2.33 1.95 1.93 1.93 1.90 2.14 2.10 2.08 2.02 2.55 2.54 2.54 2.52 3.00 2.95 2.95 2.88 2.79 2.78 2.77 2.77 3.09 3.06 3.05 3.05 2.81 2.79 2.78 2.78 2.89 2.87 2.87 2.87 3.12 3.10 3.08 3.07 3.52 3.49 3.47 3.46 2.88 2.86 2.85 2.84 3.38 3.35 3.34 3.34 2.99 2.98 2.97 2.96 T Feb. 7 14 21.... 28 Mar. 6.... 13 20.... 27 Apr. 3.... 10 17 24 2.45 2.44 T May 1 8 15.... 22 29.... 2.44 2.43 2.40 2.39 2.33 2.32 2.32 2.30 2.28 2.32 2.32 2.30 2.28 2.28 1.90 1.90 1.88 1.86 1.85 1.99 1.99 1.96 1.95 1.95 2.52 2.52 2.50 2.48 2.47 2.88 2.87 2.85 2.84 2.84 2.76 2.76 2.75 2.75 2.74 3.04 3.04 3.03 3.01 3.00 2.78 2.77 2.77 2.76 2.75 2.87 2.87 2.86 2.85 2.85 3.07 3.07 3.06 3.05 3.04 3.44 3.42 3.40 3.36 3.34 2.84 2.84 2.83 2.81 2.81 3.32 3.31 3.29 3.26 3.24 2.96 2.96 2.96 2.95 2.95 June 5.... 12.... 19.... 26 2.39 2.40 2.41 2.43 2.24 2.22 2.26 2.29 2.25 2.21 2.21 2.23 1.83 1.79 1.79 1.82 1.92 1.87 1.88 1.90 2.42 2.40 2.40 2.43 2.83 2.77 2.77 2.78 2.74 2.73 2.72 2.76 2.99 2.99 2.99 3.00 2.75 2.74 2.75 2.77 2.84 2.84 2.85 2.86 3.03 3.03 3.03 3.03 3.34 3.34 3.34 3.34 2.80 2.79 2.79 2.81 3.23 3.23 3.23 3.23 2.94 2.94 2.96 2.97 July 3.... 10.... 17.... 24.... 31 2.44 2.44 2.44 2.44 2.44 2.31 2.32 2.33 2.33 2.35 2.24 2.25 2.26 2.27 2.28 1.82 1.83 1.85 1.85 1.86 1.92 1.92 1.93 1.94 1.94 2.44 2.45 2.47 2.49 2.50 2.79 2.80 2.80 2.80 2.81 2.77 2.77 2.78 2.79 2.80 3.01 3.03 3.03 3.05 3.05 2.79 2.80 2.80 2.82 2.82 2.88 2.89 2.88 2.90 2.90 3.05 3.06 3.06 3.08 3.08 3.35 3.35 3.36 3.38 3.39 2.83 2.83 2.82 2.84 2.85 3.24 3.25 3.26 3.27 3.27 2.98 3.00 3.00 3.03 3.03 Aug. 7 14.... 21.... 28.... 2.45 2.40 2.45 2.46 2.47 2.31 2.33 2.35 2.36 1.89 1.90 1.91 1.91 1.97 2.00 2.03 2.05 2.52 2.55 2.57 2.58 2.84 2.85 2.88 2.90 2.83 2.84 2.85 2.84 3.07 3.09 3.10 3.10 2.83 2.85 2.85 2.84 2.93 2.95 2.94 2.94 3.11 3.12 3.14 3.15 3.41 3.43 3.45 3.45 2.87 2.89 2.90 2.88 3.29 3.31 3.33 3.33 3.05 3.07 3.07 3.07 Sept. 4.... 11.... 18 25..., 2.47 2.46 2.47 2.46 2.37 2.37 2.39 2.40 1.92 1.92 1.93 2.05 2.06 2.08 2.08 2.58 2.58 2.61 2.61 2.91 2.92 2.95 2.96 2.82 2.83 2.84 3.09 3.09 3.09 3.09 2.84 2.84 2.84 2.84 2.93 2.94 2.94 2.94 3.14 3.13 3.14 3.13 3.44 3.45 3.46 3.46 2.88 2.88 2.88 2.89 3.32 3.32 3.32 3.32 3.07 3.07 3.08 3.07 Oct. 2 9.... 16.... 23 30.... 2.46 2.46 2.44 2.43 2.45 2.40 2.40 2.40 2.39 2.39 1.93 1.92 2.08 2.08 2.08 2.07 2.05 2.62 2.62 2.62 2.62 2.62 2.96 2.96 2.96 2.95 2.95 2.84 2.85 3.09 3.10 3.10 3.11 3.13 2.83 2.84 2.83 2.84 2.86 2.93 2.93 2.94 2.94 2.95 3.13 3.14 3.14 3.15 3.17 3.47 3.48 3.49 3.50 3.52 2.89 2.89 2.89 2.90 2.92 3.32 3.34 3.35 3.35 3.36 3.06 3.06 3.06 3.07 3.09 T T T Nov. 6..., 13..., 20.... 27..., 2.45 2.43 2.44 2.48 2.44 2.39 2.37 2.40 2.36 2.27 2.26 .94 .91 .81 .79 2.06 1.99 1.89 1.88 2.64 2.61 2.54 2.52 2.97 2.93 2.85 2.83 2.86 2.85 2.84 2.82 3.14 3.13 3.12 3.10 2.87 2.86 2.83 2.81 2.95 2.95 2.92 2.90 3.19 3.18 3.17 3.17 3.53 3.53 3.54 3.53 2.92 2.92 2.89 2.87 3.37 3.38 3.37 3.36 3.11 3.10 3.09 3.08 Dec. 4..., 11..., 18..., 25..., 2.44 2.44 2.44 2.43 2.34 2.29 2.25 2.23 2.26 2.24 2.24 2.20 .79 1.77 .76 1.73 1.87 1.86 1.86 1.85 2.52 2.51 2.49 2.45 2.84 2.83 2.83 2.77 2.81 2.80 2.80 2.78 3.11 3.10 3.10 3.08 2.81 2.80 2.80 2.78 2.90 2.89 2.89 2.87 3.17 3.17 3.17 3.15 3.54 3.55 3.54 3.53 2.86 2.86 2.86 2.85 3.37 3.37 3.36 3.35 3.08 3.08 3.08 3.06 11. BOND YIELDS, BY TYPE OF SECURITY —Continued B. WEEKLY, 1941-63 — Continued [Per cent per annum] Government bonds Corporate bonds State and local Week ending— United States (longterm) Moody's Moody's Standard and Poor's AAA Standard and Poor's Total Aaa Aa A Baa 2.43 2.42 2.42 2.41 2.41 2.21 2.15 2.15 2.16 2.15 2.16 2.14 2.11 2.10 2.10 1.68 1.66 1.64 1.63 1.64 1.84 1.83 1.80 1.81 1.82 2.38 2.37 2.33 2.31 2.30 2.72 2.70 2.66 2.64 2.63 2.77 2.74 2.71 2.69 2.69 2.41 2.40 2.38 2.20 2.22 2.24 2.24 2.14 2.18 2.19 2.19 1.67 1.70 1.72 1.71 1.85 1.90 1.91 1.91 2.36 2.40 2.42 2.43 2.67 2.70 2.72 2.72 Mar. 5 12 19 26 2.23 2.22 2.19 2.19 2.19 2.17 2.17 2.18 1.72 1.69 1.68 1.68 1.91 1.88 1.88 1.88 2.41 2.39 2.39 2.41 Apr. 2 9 16 23 30 2.21 2.22 2.20 2.19 2.18 2.19 2.18 2.18 2.17 2.14 1.68 1.66 1.66 1.64 1.61 1.90 1.89 1.89 1.89 1.87 May 7 14 21 28 2.16 2.16 2.22 2.25 2.12 2.13 2.16 2.21 1.59 1.60 1.63 1.69 1949—Jan. i 8 15 22 29 Feb. 5 12 . 19 26 f By rating Aaa Aa A Baa Industrial Railroad Public utility 3.07 3.05 3.02 3.01 3.00 2.76 2.74 2.71 2.70 2.70 2.85 2.83 2.81 2.80 2.80 3.14 3.12 3.09 3.06 3.05 3.51 3.49 3.47 3.46 3.43 2.83 2.82 2.80 2.78 2.79 3.33 3.31 3.28 3.24 3.22 3.03 3.01 3.00 2.99 2.99 2.70 2.70 2 71 2.70 3.00 3.00 3.01 3.01 2.71 2.81 2.80 2.81 2.80 3.05 3.06 3.06 3.05 3.44 3.44 3.46 3.46 T 3.22 3.23 3 25 3.25 2.99 2.99 2.99 2.98 2.73 2.72 2.71 2.73 2.70 2.70 2.70 2.69 3.01 3.01 3.00 2.80 2.80 2.79 T 3.47 3.47 3.46 3.46 2.4* 2.78 3.26 3.26 3.26 3.27 2.98 2.97 2.97 2.96 2.44 2.44 2.43 2.43 2.40 2.74 2.74 2.72 2.71 2.68 2.69 2.70 2.69 2 68 2.68 3.46 3.47 3.46 3.45 2.77 2.78 T 3.27 2.96 2.96 2.96 2.96 2.95 1.85 1.87 1.91 1.96 2.39 2.40 2.42 2.46 2.66 2.66 2.68 2.73 2.68 2.68 2.69 2.69 3.00 2.99 2.99 2.70 2.71 2.71 3.26 3.26 3.26 3.26 2.95 2.S5 2.95 2.94 2/7, 2.70 i 3.05 3.04 3.05 3.05 3.05 T I 1 2.78 2.78 4 t 3.05 3.04 3.03 3.03 3.46 3.46 3.47 3.48 1 1 3.03 3.04 3.05 3.04 2.78 2.79 2.78 3.27 3.28 3.29 3.30 2.94 2.94 2.93 2.93 2.78 2.77 2.76 2.74 2.73 3.04 3.04 3.03 3.02 3.01 3.48 3.47 3.46 3.44 3.44 2.78 2.77 2.75 2.74 2.73 3.31 3.31 3.30 3.28 3.26 2.92 2.90 2.90 2.89 2.88 2.64 2.62 2.61 2.61 2.73 2.71 2.70 2.70 3.00 2.97 2.96 2.95 3.44 3.40 3.39 3.38 2.73 2.70 2.69 2.68 3.25 3.21 3.20 3.19 2.88 2.86 2.86 2.86 2.91 2.91 2.90 2.90 2.61 2.60 2.61 2.60 2.70 2.69 2.69 2.69 2.95 2.95 2.95 2.94 3.38 3.38 3.36 3.37 2.68 2.67 2.68 2.68 3.20 3.20 3.19 3.19 2.85 2.85 2.84 2.84 2.90 2.91 2.90 2.90 2.90 2.61 2.69 2.70 2.70 2.70 2.70 T 3.37 3.36 3.36 3.36 3.35 2.68 2.68 2.68 2.69 2.69 3.20 2.84 2.83 2.83 2.83 2.82 2.39 2.38 2.38 2.38 2.26 2.27 2.29 2.29 2.22 2.23 2.24 2.24 1.70 1.71 1.73 1.72 1.97 1.98 1.99 2.00 2.47 2.49 2.50 2.49 2.73 2.73 2.73 2.73 2.68 2.69 2 69 2.70 3.00 3.00 3.00 3.00 2.72 2.71 2.71 2.71 July 2 9 16 23 30 2.34 2.27 2.26 2.26 2.27 2.29 2.27 2.26 2.26 2.25 2.21 2.19 2.17 2.16 2.15 1.70 1.68 1.66 1.65 1.64 1.97 1.95 1.95 1.93 1.92 2.46 2.42 2.41 2.39 2.39 2.70 2.69 2.66 2.65 2.63 2.68 2.67 2.65 2.64 2.64 3.00 2.99 2.98 2.97 2.96 2.70 2.69 2.67 2.65 2.64 AUK. 6 13 20 27 2.27 2.23 2.23 2.24 2.25 2.20 2.17 2.17 2.16 2.15 2.14 2.14 1.65 1.63 1.62 1.63 1.94 1.93 1.92 1.93 2.41 2.38 2.37 2.64 2.64 2.63 2.62 2.64 2.61 2.60 2.59 2.95 2.92 2.92 2.91 Sept. 3 10 17 24 2.23 2.22 2.23 2.22 2.19 2.19 2.22 2.23 2.14 2.15 2.15 2.16 1.63 1.64 1.64 1.64 1.93 1.93 1.94 1.95 2.37 2.62 2.64 2.64 2.67 2.59 2.58 2.58 2.58 Oct. 1 8 15 22 29 2.23 2.22 2.22 2.22 2.22 2.24 2.24 2.20 2.21 2.19 2.16 2.16 2.15 2.15 2.13 1.65 1.65 1.65 1.65 1,64 1.96 1.96 1.96 1.95 1.93 2.36 2.35 2.35 2.35 2.35 2.67 2.66 2.64 2.63 2.61 2.58 2.59 2.59 2.59 2.59 T T 2.79 2.80 T 11 18 25 By group Total 1 Nov. 5 12 19.... 26 2.21 2.20 2.18 2.19 2 .19 2.19 2.16 2.14 2.12 2.11 2.10 2.09 .63 1.63 1.62 1.62 : .91 .89 .88 .87 2.35 2.33 2.31 2.31 2.60 2.59 2.57 2.56 2.59 2.57 2.57 2.57 2.90 2.90 2.89 2.89 I 2.61 2.60 2.59 2.70 2.69 2.68 2.68 2.94 2.93 2.93 2.93 3.36 3.36 3.35 3.35 2.69 2.68 2.67 2.66 i 3.20 3.21 2.82 2.81 2.81 2.80 Dec. 3.... 10 17.... 24 31.... 2.20 2.19 2.19 2.18 2.18 2.15 2.14 2.14 2.12 2.12 2.09 2.09 2.08 2.07 2.05 1.62 1.62 1.61 1.60 1.60 .87 .87 .87 .86 .85 2.31 2.32 2.30 2.28 2.26 2.55 2.55 2.53 2.52 2.50 2.57 2.56 2.56 2.55 2.55 2.89 2.88 2.87 2.85 2.85 2.60 2.59 2.59 2.58 2.57 2.67 2.67 2.67 2.66 2.66 2.93 2.91 2.89 2.88 2.87 3.35 3.34 3.31 3.29 3.27 2.66 2.67 2.66 2.65 2.64 3.20 3.18 3.15 3.12 3.11 2.80 2.80 2.79 2.79 2.79 1950—Jan. 7.... 14 21.... 28.... 2.18 2.18 2.21 2.22 2.12 2.06 2.06 2.07 2.04 2.03 2.02 1.60 1.60 1.61 T T .83 .82 .82 .82 2.25 2.23 2.21 2.21 2.48 2.46 2.44 2.44 2.54 2.54 2.55 2.55 2.84 2.83 2.82 2.83 2.57. 2.57 2.57 2.58 2.65 2.65 2.65 2.65 2.86 2.85 2.85 2.85 3.25 3.24 3.23 3.23 2.64 2.63 2.62 2.63 3.08 3.06 3.06 3.07 2.79 2.79 2.78 2.79 Feb. 4.... 11 18.... 25 2.23 2.23 2.24 2.25 2.07 2.06 2.06 2.05 2.20 2.43 2.43 2.42 2.42 2.55 2.55 2.55 2.54 I T 2.66 2.66 2.65 2.65 2.85 2.86 2.86 2.85 3.23 3.24 2.63 2.63 2.63 2.64 3.08 3.08 3.09 3.08 2.79 2.78 i 1.61 1.82 .82 .83 .84 Mar. 4 11 18 25 2.25 2.26 2.27 2.28 2.07 2.42 2.42 2.40 2.39 2.55 2.55 2.55 2.54 2.58 2.59 2.59 2.65 2.65 2.65 2.66 2.85 2.86 T T i 2.83 2.84 Apr. 1 8 15 22 29.... 2.28 2.29 2.30 2.30 2.30 2.07 2.09 2.09 2.08 ^:::: 20.... 27.... 2.30 2.30 2.31 2.31 2.07 2.07 2.07 2.07 T June 3.... 10 17 24.... 2.31 2.32 2.32 2.34 2.07 2.08 2.08 2.09 2.04 2.05 2.05 2.05 1.65 1.66 1.66 1.67 July 1 8 15 22 29.... T 2.12 2.12 2.12 2.12 2.00 2.05 2.06 2.10 2.10 1.88 1.67 1.68 1.71 1.71 1.55 I 26.... 2.34 2.32 1.92 1.92 1.92 1.88 1.86 1.85 1.85 1.84 Sept. 2 9.... 16.... 23.... 30.... 2.33 2.35 2.37 2.37 2.37 1.87 1.88 1.88 1.88 1.88 T Oct. 7.... 14.... 21.... 28.... 2.37 2.38 2.39 2.38 1.87 1.83 1.80 1.79 Nov. 4.... 11.... 18.... 25.... 2.39 2.38 2.37 2.37 Dec. 2.... 9 16.;.: 23.... 30..., 2.38 2.39 2.39 2.38 2.39 May Au8 ii:::: 19 1.62 T i 2.02 2.01 i 2.02 2.02 2.02 2.03 2.04 T i T .84 1.84 1.84 1.84 i i 2.64 2.65 2.79 2.79 2.79 2.79 2.80 3.24 3.24 3.25 3.26 2.64 2.64 2.65 2.65 3.10 3.11 3.12 3.12 2.80 2.81 i 2.69 2.89 2.89 2.89 2.89 3.26 3.26 3.27 3.28 2.65 2.66 2.66 2.65 3.13 3.13 3.14 3.15 2.81 2.63 2.65 2.66 2.66 2.65 2.70 2.72 2.73 2.73 2.71 2.90 2.92 2.92 2.93 2.91 3.32 3.33 3.33 3.33 3.28 2.67 2.68 2.68 2.70 2.70 3.18 3.21 3.22 3.21 3.14 2.82 2.83 2.84 2.84 2.83 2.87 2.85 2.85 2.84 2.62 2.61 2.61 2.61 2.69 2.68 2.67 2.67 2.90 2.88 2.87 2.87 3.27 3.24 3.23 3.23 2.68 2.67 2.66 2.66 3.11 3.09 3.08 3.07 2.81 2.80 2.80 2.80 2.20 2.57 2.59 2.59 2.61 2.63 2.84 2.85 2.85 2.88 2.88 2.61 2.62 2.64 2.67 2.66 2.67 2.68 2.70 2.72 2.72 2.87 2.87 2.88 2.89 2.90 3.22 3.21 3.20 3.22 3.22 2.65 2.66 2.67 2.70 3.07 3.06 3.06 3.07 3.08 2.81 2.82 2.84 2.85 2.85 2.19 2.14 2.14 2.14 2.63 2.63 2.63 2.64 2.87 2.87 2.88 2.89 2.66 2.66 2.67 2.68 2.71 2.71 2.72 2.73 2.90 2.90 2.91 2.92 3.22 3.22 3.22 3.23 3.08 3.08 3.09 3.10 2.84 2.84 2.85 2.86 1.92 1.93 1.92 1.92 2.15 2.15 2.15 2.15 2.65 2.65 2.64 2.63 2.89 2.88 2.88 2.88 2.68 2.67 2.66 2.66 2.73 2.72 2.71 2.71 2.92 2.92 2.92 2.91 3.23 3.22 3.21 3.21 3.09 3.09 3.07 3.07 2.87 2.86 2.86 2.86 1.93 1.93 1.93 1.91 1.90 2.15 2.16 2.17 2.17 2.17 2.63 2.64 2.64 2.63 2.63 2.88 2.89 2.88 2.88 2.87 2.67 2.68 2.67 2.67 2.66 2.72 2.72 2.73 2.72 2.71 2.91 2.92 2.92 2.91 2.90 3.21 3.22 3.21 3.20 3.19 3.08 3.09 3.08 3.07 3.05 2.87 2.87 2.87 2.86 2.86 2.21 2.22 2.38 2.38 2.39 2.40 2.41 2.55 2.55 2.55 2.55 2.57 2.84 2.84 2.83 2.84 2.85 2.59 2.59 2.59 2.60 2.60 2.66 2.66 2.66 2.66 2.67 1.88 2.23 T T T 2.85 2.85 2.86 2.86 2.60 2.61 2.61 2.62 2.68 2.68 2.69 1 2.58 2.57 2.57 2.58 i 2.23 2.24 2.41 2.42 2.42 2.42 2.58 2.59 2.59 2.59 2.86 2.87 2.87 2.87 1.88 1.89 1.94 1.94 1.71 2.24 2.25 2.29 2.29 2.02 2.42 2.41 2.46 2.46 2.25 2.59 2.61 2.61 2.62 2.62 1.54 1.52 1.52 1.52 1.68 1.66 1.66 1.66 1.99 T 2.24 2.21 2.21 2.20 1.51 1.51 1.50 1.49 1.49 1.65 1.67 1.66 1.67 1.67 1.99 2.00 2.01 2.01 1 T 1.84 1.79 1.78 1.77 1.48 1.43 1.43 1.43 1.66 1.61 1.60 1.58 2.01 1.96 1.94 1.92 1.79 1.79 1.79 1.79 1.77 1.77 1.77 1.77 1.42 1.42 1.42 1.42 1.58 1.58 1.58 1.58 1.80 1.81 1.81 1.74 1.72 1.78 1.78 1.79 1.77 1.76 1.44 1.43 1.43 1.42 1.39 1.60 1.60 1.62 1.59 1.58 i i i 2.78 2.79 1 i 2.20 1.65 1.65 1.65 1.65 i 3.24 3.23 T 3.08 3.07 3.07 3.09 1.86 1.86 1.86 1.88 1.89 1.62 1.63 1.64 1.64 T T • i 2.86 2.87 3.23 3.23 3.22 3.22 3.24 T 2.87 2.87 2.88 2.88 2.62 2.62 2.62 2.61 2.89 2.91 2.91 2.91 2.89 2.60 2.59 2.58 2.57 T 2.70 T 11. BOND YIELDS, BY TYPE OF SECURITY — Continued B. WEEKLY, 1941-63 — Continued [Per cent per annum] Government bonds Corporate bonds State and local Week ending— 1951 j 6 .. 13 20 27 United States (longterm) Standard and Poor's Moody's Moody's Total Aaa Aa A Baa Standard and Poor's AAA By rating By group Total Aaa Aa A Baa 2.86 2.86 2.86 2.85 2.66 2.66 2.66 2.65 2.71 2.90 2.89 2.89 2.88 3.19 3.18 3.17 3.17 2.66 2.66 2.65 2.66 2.71 2.72 2.88 2.88 2.87 2.88 3.16 3.16 3.16 3.16 Industrial Railroad Public utility 2.69 3.05 3.04 3.03 3.02 2.85 2.85 2.85 2.85 2.69 2.70 3.02 3.01 3.01 3.01 2.86 2.86 2.86 2.87 2.40 2.39 2.38 2.38 1.69 1.63 1.60 1.59 J-71 .67 1.60 1.59 1.35 1.32 1.29 1.28 1.50 1.46 1.38 1.37 1.86 1.80 1.73 1.72 2.11 2.10 1.98 1.99 Feb. 3 10 17 24 2.39 2.39 2.40 2.40 1.59 1.59 1.59 1.61 1.60 1.60 1.60 1.61 1.29 1.30 1.31 1.31 1.37 1.38 1.39 1.39 1.73 1.73 1.73 1.74 1.99 1.99 1.99 1.99 2.62 2.85 2.85 2.85 2.86 Mar 3 10 17 24 31 2.40 2.44 2.49 2.50 2.51 1.65 1.76 1.87 1.89 1.94 L.62 1.77 1.84 1.86 1.31 1.44 1.49 1.49 1.52 1.42 1.58 1.64 1.65 1.68 1.75 1.88 1.96 1.96 2.00 2.01 2.17 2.22 2.22 2.25 2.64 2.67 2.73 2.75 2.78 2.88 2.91 2.95 2.98 3.01 2.69 2.73 2.78 2.80 2.83 2.74 2.78 2.82 2.84 2.87 2.90 2.95 2.99 3.02 3.05 3.17 3.20 3.23 3.25 3.27 2.72 2.77 2.80 2.82 2.85 3.02 3.05 3.09 3.13 3.16 2.89 2.92 2.96 2.98 3.01 Apr 7 14 21 28 2.51 2.54 2.60 2.60 2.01 2.02 2.09 2.08 1.90 1.91 2.01 2.03 1.56 1.56 1.66 1.66 1.73 1.75 1.84 1.84 2.03 2.04 2.19 2.20 2.28 2.29 2.42 2.42 2.82 2.82 2.83 2.85 3.04 3.05 3.07 3.09 2.87 2.87 2.87 2.89 2.91 2.91 2.94 2.95 3.09 3.10 3.12 3.14 3.30 3.31 3.35 3.39 2.88 2.89 2.89 2.90 3.21 3.21 3.24 3.28 3.04 3.05 3.08 3.10 2.61 2.63 2.64 2.63 2.06 2.07 2.07 2.12 2.03 2.01 2.01 2.05 1.67 1.64 1.64 1.65 1.83 1.80 1.81 1.86 2.19 2.20 2.20 2.27 2.42 2.40 2.40 2.40 2.84 2.84 2.85 2.86 3.08 3.08 3.09 3.10 2.88 2.88 2.89 2.89 2.93 2.93 2.93 2.93 3.13 3.13 3.14 3.16 3.38 3.39 3.40 3.41 2.89 2.89 2.90 2.91 3.27 3.27 3.28 3.28 3.09 3.09 3.09 3.11 June 2 9 16 . . 23 30 2.63 2.64 2.64 2.65 2.66 2.12 2.19 2.20 2.23 2.26 2.06 2.20 2.20 2.23 2.29 1.65 1.75 1.75 1.77 1.83 1.87 2.01 1.99 2.01 2.09 2.27 2.41 2.42 2.46 2.49 2.45 2.62 2.62 2.68 2.74 2.87 2.86 2.88 2.92 2.95 3.10 3.11 3.14 3.18 3.21 2.89 2.90 2.92 2.96 2.99 2.94 2.94 2.96 3.02 3.05 3.16 3.16 3.19 3.22 3.26 3.42 3.44 3.47 3.50 3.54 2.91 2.92 2.95 2.98 3.00 3.29 3.29 3.32 3.35 3.37 3.11 3.11 3.14 3.20 3.26 July 7 14 21 28 . . 2.65 2.63 2.62 2.62 2.25 2.23 2.13 2.11 2.30 2.29 2.24 2.08 1.83 1.81 1.77 1.70 2.11 2.11 2.06 1.88 2.50 2.48 2.43 2.26 2.74 2.74 2.69 2.49 2.95 2.93 2.91 2.91 3.21 3.19 3.16 3.15 2.97 2.95 2.93 2.92 3.04 3.00 2.98 2.96 3.26 3.25 3.22 3.21 3.55 3.55 3.52 3.52 3.00 2.98 2.96 2.95 3.37 3.37 3.36 3.35 3.25 3.23 3.17 3.16 Aue 4 . . . 11.:::::::: 18 25 2.62 2.59 2.56 2.55 2.06 2.05 2.03 2.02 2.07 2.04 2.02 2.02 1.66 1.66 1.65 1.65 1.88 1.86 1.86 1.85 2.26 2.24 2.20 2.20 2.47 2.40 2.36 2.36 2.92 2.89 2.87 2.83 3.15 3.14 3.12 3.11 2.91 2.89 2.87 2.86 2.96 2.94 2.92 2.91 3.20 3.19 3.17 3.17 3.52 3.52 3.51 3.50 2.94 2.93 2.92 2.91 3.34 3.33 3.30 3.30 3.15 3.15 3.13 3.12 Sept 1 8 15 22 29 2.55 2.54 2.55 2.55 2.58 2.02 2.02 2.02 2.06 2.08 2.00 1.99 2.00 2.01 2.03 1.64 1.63 1.64 1.65 1.67 J .83 .81 L.82 1.82 .84 2.20 2.18 2.20 2.22 2.23 2.33 2.33 2.34 2.35 2.36 2.84 2.82 2.82 2.82 2.81 3.10 3.09 3.08 3.08 3.08 2.85 2.84 2.84 2.83 2.83 2.91 2.89 2.88 2 88 2.89 3.16 3.15 3.14 3.15 3.15 3.49 3.48 3.45 3.45 3.45 2.90 2.89 2.89 2.88 2.89 3.30 3.28 3.26 3.26 3.27 3.11 3.09 3.09 3.09 3.10 Oct. 6 13. . . 20 27 2.60 2 60 2.62 2.62 2.09 2 09 2.09 2.06 2.06 2 07 2.09 2.09 1.68 1.68 1.69 1.69 1.86 t.88 1.87 L87 2.29 2.30 2.31 2.31 2.39 2.42 2.47 2.47 2.85 2.84 2.88 2.90 3.10 3.11 3.12 3.14 2.86 2.87 2.88 2.92 2.90 2.90 2.92 2.97 3.16 3.17 3.17 3.20 3.47 3.48 3.51 3.53 2.91 2.92 2.94 2.96 3.27 3.29 3.29 3.34 3.11 3.11 3.14 3.17 a n Mav 5 19 26 ... .81 2.62 T T T Nov. 3 10 17 24 2.62 2.63 2.65 2.69 2.06 2.06 2.05 2.06 2.09 2.08 2.06 2.07 1.69 1.68 1.68 1.69 1.87 1.86 1.84 1.84 2.31 2.30 2.27 2.28 2.47 2.47 2.46 2.46 2.95 2.97 2,95 2.99 3.18 3.19 3.19 3.21 2.95 2.96 2.96 2.97 3 00 3.00 3 01 3.03 3 23 3^24 3 24 3.27 3.54 3.54 3.55 3.57 2.97 2.97 2 97 2!98 3 39 3.40 3 41 3.44 3.19 3.20 3.20 3.21 Dec. 1 8 15 2.68 2.69 2.67 2.70 2.74 2.09 2.09 2.09 2.10 2.13 2.09 2.09 2.09 2.12 2.17 1.69 1.70 1.69 1.73 1.77 1.85 1.86 1.86 1.89 1.94 2.32 2.32 2.32 2.32 2.36 2.48 2.49 2.49 2.53 2.59 3.01 2.99 3.00 3.00 3.05 3.22 3.24 3.25 3.25 3.26 2.97 2.99 3.00 3.01 3.03 3 04 3 05 3 06 3 06 3.07 3.29 3.30 3.31 3 30 3.31 3.58 3.60 3.61 3 63 3.63 2.98 2.99 2.99 3 00 3.01 3 46 3.47 3 50 3.51 3.52 3.23 3.25 3.25 3.24 3.25 1952—Jan. 5.... 12 19 26 2.74 2.75 2.75 2.73 2.13 2.12 2.10 2.09 2.18 2.17 2.11 2.12 1.77 1.75 1.73 1.73 1.96 1.94 1.89 1.90 2.38 2.34 2.28 2.28 2.62 2.63 2.55 2.56 3.03 2.99 2.96 2.93 3.27 3.26 3.24 3.23 3.03 3.01 2.99 2.97 3 08 3 08 3 06 3.04 3.34 3J3 3 32 3^31 3.63 3.61 3 60 3^58 3.02 3!o2 3 53 3.51 3.49 3.46 3.27 3.26 3.24 3.22 Feb. 2 9 16 23.... 2.71 2.71 2.71 2.70 2.08 2.04 2.04 2,04 2.12 2.11 2.11 2.11 1.73 1.73 1.73 1.72 1.90 1.90 1.90 1.90 2.27 2.26 2.25 2.24 2.56 2.56 2.56 2.56 2.91 2.89 2.89 2.91 3.20 3.18 3.17 3.18 2.95 2.93 2.91 2.93 3.01 3.00 3 00 3.02 3 29 3.26 3 24 3.24 3.55 3.54 3 52 3.'52 2.97 2.97 2 97 2.'97 3.43 3.39 3 37 3.37 3.20 3.18 3.18 3.19 Mar. 1.... 8 15.... 22.... 29.... 2.70 2.71 2.71 2.70 2.68 2.04 2.07 2.08 2.07 2.07 2.09 2.10 2.10 2.09 2.09 1.71 1.72 1.72 1.72 1.72 1.89 1.87 1.88 1.87 1.87 2.23 2.25 2.25 2.23 2.22 2.54 2.54 2.54 2.53 2.54 2.93 2.94 2.97 2.94 2.94 3.18 3.19 3.19 3.19 3.18 2.95 2.96 2.97 2.97 2.96 3.02 3.02 3.03 3.03 3.02 3.24 3.25 3 25 3 23 3.23 3 53 3.52 3.52 3 50 3.51 2.98 2.99 2.99 2 99 2.98 3.38 3.37 3.36 3.36 3.36 3.20 3.22 3.22 3.21 3.21 ^•il:::: 2.68 2.69 2.63 2.60 2.03 2.00 2.00 2.00 2.07 2.05 2.02 2.03 1.70 1.70 1.65 1.65 1.85 1.84 1.82 1.82 2.17 2.15 2.13 2.14 2.54 2.50 2.48 2.49 2.94 2.92 2.93 2.92 3.17 3.17 3.16 3.16 2.95 2.94 2.93 2.93 3 02 3.02 3.01 3.00 3.22 3 21 3 21 3.19 3.50 3^49 3 50 3.51 2.98 2^98 2 98 2.97 3 34 3.33 3.32 3.31 3.20 3.19 2.58 2.56 2.56 2.58 2.60 2.00 2.02 2.05 2.06 2.07 2.03 2.03 2.05 2.06 2.11 1.65 1.66 1.66 1.67 1.72 1.81 1.81 1.82 1.83 1.87 2.15 2.15 2.17 2.18 2.22 2.49 2.50 2.54 2.56 2.59 2.91 2.92 2.92 2.91 2.93 3.16 3.16 3.15 3.16 3.16 2.92 2.93 2.92 2.93 2.93 3 00 3.19 3.20 2.97 2.97 2.97 2 97 2.*98 T 3.01 3.50 3.50 3.48 3 49 3^49 2.62 2.61 2.61 2.62 2.08 2.10 2.11 2.12 2.11 2.14 2.14 2.15 1.72 1.73 1.73 1.74 .90 .94 .94 1.94 2.23 2.25 2.25 2.26 2.60 2.62 2.64 2.65 2.93 2.93 2.93 • 2.93 3.16 3.16 3.17 3.17 2.93 2.93 2.94 2.93 3 02 3.02 3 03 3.03 3.20 i 3.50 3.50 3 51 3^50 2.98 2.98 2 99 2!98 3.31 3.32 3 33 3.33 2.62 2.61 2.59 2.60 2.12 2.12 2.12 2.13 2.16 2.16 2.17 2.18 1.75 1.75 1.76 1.76 1.94 1.95 1.95 1.98 2.28 2.28 2.30 2.30 2.67 2.67 2.67 2.68 2.92 2.93 2.95 2.94 3.17 3.17 3.17 3.18 2.94 2.95 2.95 2.95 3.03 3.03 3.04 3.05 3.19 3 19 3 19 3.20 3.50 3.50 3 50 3.50 2.98 2.98 2 99 2.99 3.33 3.32 3.33 3.34 2.63 2.69 2.72 2.69 2.70 2.13 2.14 2.21 2.25 2.28 2.18 2.18 2.22 2.25 2.26 1.76 1.76 1.78 1.78 1.78 1.98 1.98 2.02 2.05 2.06 2.31 2.31 2.35 2.42 2.44 2.68 2.68 2.73 2.74 2.77 2.94 2.94 2.95 2.96 2.94 T 2.94 2.95 2.94 2.95 2.95 3.05 3.05 3.06 3.06 3.06 3.20 3.20 3 20 3 21 . 3.22 3.51 3.52 3 51 3 51 3.51 2.99 3.00 3.00 3 01 3.01 3.34 3.34 3.34 3.34 3.35 Sept. 6 13..., 20..., 27.... 2.67 2.68 2.71 2.75 2.28 2.31 2.34 2.37 2.28 2.31 2.40 2.40 1.81 1.83 2.00 2.00 2.09 2.09 2.18 2.18 2.44 2.50 2.54 2.54 2.77 2.81 2.89 2.89 2.93 2.95 2.95 2.99 1 3.18 3.19 3.20 2.94 2.94 2.95 2.97 3.06 3 06 3 07 3.07 3.21 3 22 3 22 3.22 3.52 3.52 3 53 3.54 3.01 3.01 3.02 3.02 3.35 3.35 3.36 3.37 3.21 Oct. 4... 11..., 18..., 25.... 2.78 2.76 2.75 2.73 2.39 2.42 2.43 2.43 2.43 2.45 2.45 2.45 2.00 1.99 2.00 2.00 2.19 2.19 2.20 2.20 2.58 2.63 2.63 2.62 2.95 2.98 2.98 2.98 3.00 3.01 3.04 3.03 3.21 3.21 3.22 3.23 2.99 3.01 3.02 3.02 3.08 3.08 3 09 3.09 3.23 3.23 3 25 3.26 3.53 3.54 3^54 3.55 3.03 3.05 3*05 3.07 3.38 3.38 3.39 3.40 3.21 3.22 3.22 3.23 Nov. 1.... 8.... 15.... 22.... 29.... 2.71 2.69 2.71 2.71 2.71 2.41 2.39 2.40 2.40 2.40 2.41 2.41 2.41 2.41 2.42 1.96 1.98 t.98 L.97 1.97 2.16 2.18 2.18 2.18 2.18 2.59 2.59 2.59 2.59 2.60 2.92 2.89 2.90 2.90 2.91 3.01 3.00 2.99 2.98 2.96 3.22 3.22 3.21 3.20 3.19 3.01 3.00 2.98 2.98 2.97 3.08 3.07 3 06 3 06 3.05 3 25 3.25 3.24 3 23 3.23 3.55 3.54 3.54 3 53 3.52 3.07 3.06 3.05 3 05 3!05 3.39 3.38 3.37 3.37 3.35 3.22 3.21 3.19 3.19 3.18 Dec. 6.... 13.... 20.... 27 2.72 2.72 2.76 2.79 2.39 2.39 2.40 2.41 2.42 2.44 2.44 2.45 1.97 1.96 1.96 1.96 2.62 2.66 2.67 2.67 2.91 2.92 2.92 2.93 2.96 2.97 2.98 3.00 3.18 3.19 3.19 3.19 2.97 2.96 2.98 2.98 3.04 3.04 3 05 3.06 3 22 3.22 3 22 3.23 3 51 3.51 3.50 3.50 3.04 3.04 3 03 3^04 3.34 3.33 3 34 3.35 3.18 3.19 3.20 3.20 i:::: i 19 26.... May 3.... 10.... 17 24.... 31..., June 7.... 14..., 21..., 28.... Ju M:::: 19... 26... Aug. 2.... 9.... 16... 23.... 30..., 1 2.19 2.21 • 2.22 >.24 3.01 3.00 3 01 T 3 01 2.99 T i 3.19 3.20 11. BOND YIELDS, BY TYPE OF SECURITY —Continued B. WEEKLY, 1941-63 — Continued [Per cent per annum] Government bonds Corporate bonds State and local Week ending— United States (longterm) Moody's Standard and Poor's AAA Moody's Standard and Poor's Total Aaa Aa By rating By group Total Baa Baa Aa Industrial Railroad Public utility 1953_jan. 3, 10, 17 24, 31 2.80 2.79 2.80 2.80 2.80 2.42 2.43 2.47 2.48 2.50 2.46 2.47 2.51 2.54 2.56 1.96 1.98 2.02 2.06 2.07 2.25 2.26 2.29 2.31 2.33 2.67 2.68 2.72 2.74 2.76 2.94 2.96 3.00 3.05 3.06 2.99 3.00 3.04 3.03 3.04 3.20 3.20 3.21 3.23 3.24 2.99 2.99 3.01 3.04 3.05 3.06 3.07 3.08 3.11 3.12 3.23 3.23 3.24 3.26 3.27 3.50 3.51 3.51 3.52 3.52 3.04 3.05 3.05 3.09 3.10 3.34 3.35 3.36 3.37 3.38 3.20 3.21 3.22 3.24 3.25 Feb. 7, 14 21 28 2.81 2.81 2.82 2.88 2.51 2.51 2.55 2.60 2.59 2.61 2.65 2.74 2.09 2.11 2.13 2.21 2.36 2.40 2.40 2.46 2.80 2.83 2.90 2.98 3.09 3.10 3.18 3.29 3.04 3.06 3.07 3.08 3.24 3.26 3.27 3.28 3.05 3.06 3.08 3.09 3.13 3.14 3.15 3.15 3.28 3.30 3.31 3.33 3.51 3.53 3.54 3.54 3.10 3.11 3.12 3.12 3.37 3.38 3.39 3.41 3.26 3.28 3.30 3.30 Mar. 7 14 21 28 2.87 2.87 2.88 2.94 2.61 2.61 2.61 2.61 2.75 2.75 2.76 2.22 2.20 T 2.48 2.49 2.49 2.49 3.00 3.00 3.00 3.00 3.30 3.32 3.35 3.35 3.09 3.09 3.10 3.12 3.29 3.29 3.30 3.33 3.11 3.10 3.12 3.14 3.16 3.16 3.18 3.21 3.34 3.35 3.36 3.37 3.55 3.56 3.56 3.58 3.14 3.15 3.16 3.18 3.42 3.43 3.44 3.44 3.31 3.31 3.33 3.36 Apr.4 18 25 2.91 2.91 2.97 3.00 2.63 2.61 2.61 2.62 2.76 2.20 2.49 2.50 2.50 2.50 3.00 2.99 3.00 2.99 3.35 3.36 3.35 3.35 3.15 3.16 3.20 3.22 3.35 3.37 3.40 3.43 3.18 3.19 3.22 3.25 3.24 3.25 3.29 3.33 3.39 3.41 3.44 3.46 3.60 3.61 3.64 3.67 3.21 3.23 3.26 3.28 3.46 3.47 3.50 3.54 3.38 3.39 3.43 3.47 May 2 9 16 23 30 3.05 3.10 3.10 3.11 3.15 2.66 2.70 2.72 2.74 2.77 2.78 2.81 2.84 2.85 2.89 2.22 2.27 2.29 2.32 2.38 2.51 2.53 2.57 2.59 2.64 3.01 3.05 3.06 3.08 3.09 3.36 3.40 3.42 3.42 3.43 3.29 3.32 3.34 3.31 3.34 3.46 3.51 3.53 3.54 3.55 3.28 3.33 3.35 3.35 3.35 3.36 3.40 3.41 3.42 3.43 3.50 3.54 3.58 3.59 3.62 3.72 3.76 3.77 3.78 3.80 3.33 3.37 3.38 3.39 3.41 3.57 3.61 3.63 3.63 3.66 3.50 3.55 3.57 3.59 3.59 June 6 13 20 27 3.19 3.14 3.13 3.09 2.89 2.92 3.01 3.14 3.00 3.09 3.18 3.20 2.51 2.61 2.71 2.73 2.73 2.83 2.91 2.96 3.25 3.29 3.34 3.32 3.49 3.64 3.76 3.79 3.38 3.39 3.41 3.38 3.58 3.61 3.63 3.62 3.39 3.41 3.42 3.41 3.45 3.50 3.52 3.51 3.65 3.68 3.68 3.68 3.82 3.85 3.88 3.89 3.45 3.48 3.50 3.49 3.68 3.73 3.75 3.75 3.60 3.62 3.63 3.63 July 4 11 18 25 3.04 3.03 3.02 3.01 3.07 3.02 2.99 2.95 3.17 3.03 2.98 2.99 2.71 2.56 2.51 2.52 2.95 2.79 2.74 2.75 3.28 3.16 3.13 3.14 3.74 3.60 3.55 3.55 3.33 3.28 3.26 3.25 3.59 3.57 3.54 3.53 3.36 3.31 3.28 3.26 3.46 3.43 3.41 3.41 3.66 3.64 3.62 3.59 3.88 3.87 3.86 3.86 3.45 3.43 3.42 3.41 3.72 3.70 3.67 3.64 3.60 3.57 3.54 3.54 Aug. 1 8 29 3.03 3.01 3.02 3.01 3.02 2.93 2.91 2.89 2.86 2.88 2.99 2.98 2.99 2.98 2.97 2.52 2.50 2.48 2.46 2.46 2.75 2.73 2.71 2.69 2.67 3.14 3.14 3.16 3.16 3.16 3.56 3.56 3.61 3.61 3.60 3.22 3.21 3.21 3.22 3.25 3.52 3.50 3.50 3.51 3.52 3.24 3.22 3.22 3.24 3.26 3.38 3.38 3.38 3.39 3.40 3.58 3.57 3.56 3.55 3.56 3.85 3.84 3.84 3.85 3.87 3.39 3.37 3.36 3.37 3.38 3.62 3.61 3.61 3.61 3.63 3.53 3.53 3.54 3.55 3.56 Sept. 5 12 19 26 3.04 3.03 3.01 2.93 2.89 2.91 2.92 2.86 2.99 3.00 3.01 2.97 2.48 2.48 2.51 2.47 2.68 2.68 2.70 2.66 3.18 3.19 3.20 3.16 3.61 3.63 3.63 3.59 3.27 3.28 3.29 3.25 3.54 3.55 3.55 3.54 3.29 3.30 3.31 3.30 3.42 3.43 3.45 3.44 3.57 3.57 3.57 3.56 3.87 3.88 3.89 3.88 3.39 3.40 3.41 3.40 3.64 3.65 3.66 3.66 3.58 3.59 3.60 3.58 Oct. 3 10 17 24 31 2.87 2.83 2.84 2.83 2.82 2.84 2.78 2.72 2.70 2.66 2.94 2.91 2.80 2.78 2.70 2.45 2.41 2.32 2.29 2.19 2.63 2.59 2.47 2.45 2.37 3.12 3.08 2.97 2.93 2.83 3.57 3.54 3.48 3.46 3.40 3.20 3.19 3.16 3.14 3.11 3.52 3.48 3.45 3.43 3.40 3.24 3.19 3.16 3.14 3.12 3.41 3.37 3.34 3.32 3.28 3.53 3.51 3.48 3.46 3.43 3.87 3.85 3.82 3.81 3.79 3.38 3.36 3.34 3.31 3.29 3.62 3.59 3.56 3.54 3.52 3.54 3.49 3.56 3.44 3.41 15 22 T Nov. 7 14.... 21 28.... 2.83 2.86 2.86 2.88 2.64 2.62 2.61 2.60 2.68 2.62 2.64 2.63 2 .18 2.12 2.14 2.14 2.36 2.29 2.30 2.29 2.81 2.75 2.78 2.78 3.36 3.30 3.32 3.32 3.07 3.07 3.09 3.10 3.38 3.37 3.39 3.39 3.09 3.10 3.13 3.13 3.25 3.25 3.27 3.28 3.40 3.39 S.40 3.40 3.78 3.75 3.75 3.75 3.26 3.26 3.28 3.27 3.50 3.50 3.51 3.52 3.38 3.37 3.38 3.38 Dec. 5.... 12.... 19 26.... 2.85 2.79 2.78 2.78 2.60 2.59 2.59 2.60 2.66 2.67 2.67 2.67 2.17 2.18 2.17 2.18 2.31 2.31 2.31 2.32 2.81 2.83 2.83 2.83 3.35 3.35 3.35 3.33 3.11 3.09 3.08 3.09 3.39 3.39 3.38 3.39 3.14 3.13 3.12 3.12 3.29 3.28 3.27 3.28 3.41 3.40 3.40 3.40 3.74 3.73 3.73 3.73 3.27 3.27 3.27 3.28 3.53 3.52 3.52 3.52 3.38 3.37 3.36 3.36 1954—Jan. 2.... 9 16.... 23 30.... 2.74 2.74 2.72 2.67 2.64 2.58 2.56 2.52 2.47 2.43 2.67 2.66 2.64 2.61 2.56 2.19 2.16 2.14 2.11 2.07 2.32 2.32 2.29 2.27 2.23 2.84 2.83 2.81 2.79 2.74 3.32 3.32 3.30 3.26 3.20 3.08 3.06 3.04 3.01 2.99 3.39 3.37 3.35 3.33 3.30 3.12 3.09 3.08 3.06 3.03 3.27 3.26 3.24 3.21 3.18 3.40 3.38 3.37 3.34 3.31 3.74 3.74 3.72 3.70 3.67 3.28 3.27 3.25 3.22 3.18 3.51 3.50 3.49 3.46 3.43 3.36 3.34 3.32 3.30 3.28 Feb. 6 13 20.... 27.... 2.64 2.61 2.62 2.58 2.42 2.39 2.39 2.37 2.55 2.54 2.54 2.51 2.06 2.06 2.06 2.04 2.21 2.21 2.20 2.20 2.73 2.70 2.70 2.65 3.20 3.20 3.20 3.16 2.95 2.90 2.91 2.88 3.27 3.23 3.22 3.21 2.99 2.94 2.93 2.92 3.16 3.12 3.11 3.10 3.29 3.26 3.24 3.23 3.65 3.62 3.60 3.58 3.16 3.13 3.11 3.10 3.40 3.34 3.34 3.33 3.27 3.23 3.22 3.20 Mar. 6.... 13 20.... 27 2.55 2.54 2.52 2.52 2.36 2.36 2.36 2.40 2.50 2.48 2.48 2.51 2.03 2.02 2.04 2.06 2.18 2.16 2.17 2.19 2.63 2.61 2.61 2.66 3.16 3.14 3.10 3.12 2.85 2.82 2.81 2.82 3.18 3.15 3.13 3.12 2.89 2.86 2.85 3.20 3.16 3.15 T 3.07 3.04 3.02 3.00 3.56 3.53 3.50 3.47 3.07 3.05 3.04 3.03 3.31 3.26 3.23 3.20 3.17 3.14 3.13 3.13 Apr. 3 10.... 17.... 24 2.51 2.48 2.49 2.48 2.44 2.46 2.47 2.48 2.54 2.55 2.57 2.57 2.10 2.12 2.16 2.16 2.22 2.23 2.27 2.27 2.68 2.67 3.16 3.16 3.18 3.18 2.81 2.81 2.80 2.81 3.12 3.12 3.11 3.12 i 2.85 3.00 3.00 2.99 3.00 3.47 3.47 3.46 3.47 3.04 3.04 3.04 3.04 3.19 3.19 3.18 3.19 3.13 3.12 3.12 3.12 M a y 1.... 8 15.... 22 29.... 2.47 2.49 2.53 2.56 2.58 2.48 2.47 2.47 2.50 2.53 2.58 2.58 2.58 2.59 2.59 2.17 2.17 2.17 2.18 2.18 2.29 2.29 2.29 2.29 2.29 2.83 2.83 2.83 2.85 2.86 3.13 3.13 3.12 3.13 3.14 2.87 2.87 2.87 2.87 2.89 3.01 3.02 3.01 3.03 3.04 1 i 2.67 3.19 3.19 3.19 3.20 3.22 3.15 3.14 3.15 3.16 3.47 3.47 3.47 3.47 3.48 3.05 3.05 3.05 3.05 3.08 3.20 3.20 3.20 3.21 3.21 3.13 3.13 3.12 3.13 3.14 June 5.... 12.... 19.... 26 2.59 2.57 2.54 2.52 2.54 2.54 2.52 2.42 2.61 2.61 2.60 2.52 2.20 2.21 2.18 2.10 2.30 2.30 2.30 2.24 2.69 2.68 2.66 2.60 3.24 3.25 3.25 3.14 2.89 2.88 2.87 2.86 3.16 3.16 3.15 3.15 2.91 2.91 2.90 2.90 3.07 3.06 3.05 3.05 3.17 3.17 3.18 3.17 3.49 3.50 3.49 3.49 3.10 3.10 3.10 3.09 3.23 3.24 3.23 3.15 3.15 3.14 3.14 July 3.... 10.... 17.... 24.... 31 2.52 2.49 2.46 2.46 2.46 2.38 2.35 2.35 2.29 2.26 2.46 2.43 2.39 2.34 2.32 2.04 2.03 .99 .92 .92 2.19 2.15 2.13 2.04 2.04 2.52 2.49 2.46 2.42 2.39 3.09 3.05 2.99 2.96 2.93 2.87 2.87 2.85 2.85 2.83 3.16 3.16 3.16 3.15 3.15 2.90 2.90 2.89 2.88 2.88 3.05 3.05 3.05 3.04 3.04 3.18 3.18 3.18 3.18 3.17 3.49 3.50 3.50 3.50 3.50 3.10 3.10 3.10 3.09 3.09 2.45 2.48 2.49 2.50 2.24 2.23 2.23 2.23 2.30 2.31 2.30 2.30 .90 .90 .90 .90 2.00 2.00 2.00 2.00 2.38 2.38 2.37 2.37 2.93 2.94 2.94 2.94 2.83 2.83 2.83 2.84 3.14 3.14 3.13 3.13 2.87 2.87 2.86 2.87 3.03 3.02 3.02 3.03 3.16 3.16 3.14 3.13 3.50 3.49 3.49 3.47 3.08 3.08 3.06 3.06 2.51 2.52 2.52 2.53 2.24 2.26 2.31 2.33 2.31 2.32 2.35 2.37 .90 .91 .93 .96 2.01 2.02 2.04 2.06 2.38 2.40 2.43 2.44 2.94 2.95 2.99 3.01 2.84 2.85 2.85 2.84 3.13 3.13 3.13 3.14 2.88 2.89 2.89 2.89 3.03 3.04 3.04 3.05 3.13 3.13 3.13 3.14 3.47 3.47 3.47 .3.48 3.06 3.06 3.07 3.07 i 3.21 3.22 3.12 3.12 3.13 3.13 Oct. 2... 9... 16... 23... 30... 2.53 2.52 2.52 2.55 2.56 2.33 2.34 .2.32 2.30 2.30 2.38 2.38 2.37 2.36 2.35 .97 1.97 1.97 1.97 1.96 t 2.46 2.46 2.45 2.43 2.39 3.01 3.01 3.01 2.98 2.98 2.84 2.84 2.85 2.84 2.85 3.14 3.14 3.13 3.13 3.12 2.89 2.88 2.88 2.87 2.87 3.05 3.05 3.04 3.14 3.14 3.14 3.14 3.13 3.48 3.48 3.47 3.46 3.45 3.06 3.06 3.06 3.05 3.05 3.23 3.23 3.22 3.22 3.22 3.12 3.12 3.12 3.11 3.10 Nov. 6. .. 13... 20... 27... 2.56 2.57 2.57 2.58 2.30 2.28 2.28 2.28 2.34 2.34 2.34 2.34 1.95 1.95 1.95 1.96 2.06 2.04 2.05 2.39 2.39 2.39 2.40 2.96 2.96 2.96 2.96 2.86 2.85 2.86 2.85 3.13 3.13 3.13 3.12 2.88 2.89 2.89 2.88 i 3.04 3.03 3.14 3.14 3.13 3.13 3.46 3.45 3.06 3.06 3.05 3.06 3.22 3.23 3.22 3.22 3.11 3.11 3.11 3.10 Dec. 4... 11... 18... 25..., 2.58 2.57 2.59 2.60 2.29 2.31 2.34 2.35 2.35 2.36 2.42 2.43 1.96 1.98 2.03 2.03 2.05 2.07 2.13 2.14 2.41 2.41 2.51 2.53 2.96 2.97 2.99 3.00 2.86 2.86 2.88 2.89 3.13 3.13 3.13 3.14 2.89 2.89 2.90 2.91 3.04 3.03 3.04 3.05 3.13 3.13 3.14 3.14 3.06 3.06 3.06 3.07 3.22 3.22 3.23 3.24 3.10 3.10 3.10 3.11 AU8 -J:::: 21..., 28.... Sept. 4..., 11... 18..., 25..., 1 T T T T i 3.45 T i 3.23 3.22 3.22 3.21 T 3.14 3.14 3.14 3.13 3.13 3.12 3.12 3.11 3.12 11. BOND YIELDS, BY TYPE OF SECURITY — Continued B. WEEKLY, 1941-63 — Continued [Per cent per annum] Corporate bonds Government bonds Moody's State and local Week ending— United States (longterm) Moody's Standard and Poor's Total Aaa Aa Baa Standard and Poor's AAA By rating By group Total Aaa Baa Aa Industrial Railroad Public utility 1955—Jan. 1, 8, 15, 22, 29, 2.60 2.64 2.67 2.68 2.70 2.35 2.36 2.40 2.40 2.41 2.44 2.45 2.47 2.49 2.51 2.04 2.06 2.09 2.11 2.11 2.15 2.18 2.23 2.24 2.28 2.53 2.54 2.54 2.55 2.58 3.02 3.02 3.03 3.05 3.06 2.89 2.88 2.88 2.91 2.91 3.14 3.14 3.14 3.15 3.16 2.92 2.91 2.92 2.93 2.94 3.05 3.05 3.05 3.07 3.07 3.15 3.15 3.15 3.16 3.16 3.44 3.45 3.45 3.46 3.46 3.07 3.07 3.08 3.08 3.09 3.24 3.24 3.24 3.25 3.26 3.11 3.10 3.11 3.12 3.12 Feb. 5 12, 19 26 2.73 2.75 2.78 2.82 2.43 2.41 2.41 2.43 2.50 2.50 2.49 2.49 2.10 2.11 2.10 2.10 2.25 2.58 2.57 2.56 2.56 3.05 3.05 3.04 3.04 2.94 2.94 2.97 2.97 3.17 3.17 3.19 3.20 2.97 2.97 2.99 3.02 3.09 3.09 3.11 3.12 3.16 3.16 3.17 3.17 3.46 3.47 3.47 3.48 3.11 3.11 3.12 3.14 3.28 3.27 3.29 3.30 3.14 3.13 3.15 3.16 Mar. 5 12 19 26 2.80 2.78 2.76 2.76 2.46 2.45 2.45 2.44 2.49 2.49 2.49 2.50 2.09 2.09 2.10 2.08 2.25 2.26 2.56 2.56 2.56 2.57 3.06 3.07 3.07 3.08 2.98 2.98 2.98 2.97 3.21 3.21 3.21 3.20 3.03 3.04 3.03 3.01 3.13 3.13 3.14 3.13 3.18 3.19 3.19 3.19 3.48 3.49 3.49 3.48 3.15 3.15 3.15 3.14 3.30 3.31 3.31 3.30 3.17 3.17 3.17 3.17 Apr. 2 9 2.80 2.82 2.82 2.82 2.82 2.44 2.44 2.43 2.42 2.41 T 2.26 2.26 2.26 2.26 2.25 T 2.97 2.97 2.99 2.99 2.99 3.20 3.20 3.20 3.20 3.21 T 2.50 2.08 2.09 2.08 2.08 2.08 T 16 23 30 3.01 3.13 3.13 3.12 3.13 3.14 3.18 3.18 3.19 3.19 3.19 3.48 3.48 3.48 3.48 3.49 3.14 3.14 3.14 3.14 3.15 3.30 3.30 3.30 3.30 3.31 3.16 3.16 3.17 3.17 3.17 May 7 14 21 28 2.82 2.81 2.80 2.80 2.41 2.41 2.40 2.42 2.49 2.49 2.47 2.47 2.08 2.07 2.05 2.05 2.25 2.25 2.22 2.22 3.08 3.06 3.06 3.00 3.02 3.02 3.03 3.21 3.23 3.02 3.04 3.04 3.05 3.14 3.15 3.15 3.15 3.20 3.21 3.22 3.23 3.49 3.50 3.49 3.50 3.16 3.16 3.17 3.17 3.31 3.32 3.32 3.33 3.18 3.20 3.20 3.20 June 4 11 18 25 2.79 2.80 2.81 2.83 2.45 2.45 2.46 2.48 2.47 2.47 2.48 2.49 2.06 2.07 2.08 2.09 2.21 2.21 2.22 2.22 3.06 3.06 3.07 3.10 3.03 3.03 3.03 3.04 3.05 3.04 3.05 I 3.15 3.15 3.14 3.23 3.22 3.22 3.23 3.50 3.50 3.51 3.51 3.17 3.17 3.17 3.18 3.32 3.31 3.31 3.31 3.21 3.20 3.21 3.21 July 2 9 16 23 30 2.86 2.86 2.88 2.92 2.96 2.55 2.60 2.62 2.62 2.64 2.53 2.58 2.62 2.63 2.64 2.14 2.19 2.23 2.24 2.27 2.26 2.32 2.37 2.38 2.38 2.62 2.67 2.70 2.71 2.71 3.11 3.14 3.17 3.17 3.18 3.02 3.04 3.02 3.04 3.06 3.23 3.24 3.24 3.24 3.25 3.14 3.15 3.51 3.51 3.52 3.52 3.53 3.17 3.17 3.18 3.18 3.20 3.31 3.32 3.31 3.32 3.33 3.22 3.22 3.21 3.21 3.22 Aus.6 2.97 2.94 2.94 2.95 2.66 2.66 2.66 2.69 2.67 2.69 2.70 2.71 2.29 2.34 2.34 2.34 2.42 2.42 2.43 2.44 2.76 2.79 2.79 2.82 3.21 3.21 3.22 3.23 3.07 3.10 3.11 3.12 3.27 3.28 3.29 3.30 3.07 3.09 3.10 3.12 3.12 3.23 3.23 3.23 3.23 3.25 3.17 3.18 3.20 3.21 3.25 3.27 3.28 3.30 3.55 3.56 3.57 3.58 3.22 3.23 3.26 3.26 3.34 3.36 3.36 3.37 3.23 3.24 3.26 3.28 2.95 2.92 2.93 2.92 2.69 2.68 2.64 2.60 2.71 2.72 2.71 2.68 2.34 2.34 2.32 2.27 2.44 2.46 2.44 2.43 2.83 2.83 2.83 2.78 3.23 3.25 3.25 3.25 3.12 3.12 3.12 3.13 3.31 3.32 3.31 3.31 3.13 3.14 3.13 3.13 3.22 3.23 3.22 3.22 3.31 3.31 3.31 3.32 3.58 3.59 3.59 3.58 3.27 3.27 3.25 3.25 3.38 3.40 3.40 3.40 3.29 3.29 3.29 3.29 2.90 2.88 2.86 2.86 2.86 2.58 2.57 2.56 2.56 2.54 2.66 2.66 2.64 2.62 2.63 2.27 2.27 2.25 2.24 2.24 2.39 2.37 2.36 2.34 2.35 2.75 2.75 2.74 2.71 2.70 3.23 3.23 3.22 3.20 3.23 3.11 3.09 3.08 3.09 3.09 3.31 3.30 3.30 3.30 3.30 3.12 3.12 3.11 3.10 3.10 3.21 3.20 3.19 3.19 3.19 3.31 3.29 3.29 3.31 3.31 3.59 3.59 3.59 3.59 3.58 3.24 3.24 3.24 3.23 3.23 3.39 3.38 3.38 3.39 3.39 3.29 3.27 3.27 3.28 3.28 20 27 Sept. 3 10 17 24 Oct. 1 8 15 22 29 T 2.57 2.56 2.55 T T T 3.i>5 Nov. 5 12 19 26 2.84 2.87 2.89 2.91 2.52 2.51 2.52 2.56 2.59 2.59 2.59 2.61 2.19 2.19 2.19 2.21 2.30 2.30 2.30 2.33 2.68 2.68 2.68 2.70 3.19 3.19 3.19 3.20 3.08 3.07 3.07 3.08 3.30 3.28 3.28 3.30 3.10 3.08 3.08 3.11 3.19 3.18 3.18 3.19 3.31 3.29 3.28 3.30 3.59 3.58 3.58 3.59 3.23 3.21 3.21 3.22 3.38 3.38 3.37 3.38 3.28 3.27 3.27 3.29 Dec. 3 10 17 24 31 2.91 2.90 2.91 2.91 2.92 2.63 2.68 2.72 2.72 2.72 2.67 2.68 2.71 2.73 2.73 2.27 2.28 2.30 2.30 2.30 2.41 2.43 2.47 2.50 2.50 2.75 2.76 2.83 2.85 2.85 3.24 3.25 3.25 3.25 3.26 3.11 3.12 3.18 3.19 3.16 3.31 3.32 3.34 3.35 3.34 3.12 3.13 3.17 3.17 3.16 3.20 3.20 3.23 3.24 3.23 3.30 3.32 3.34 3.34 3.34 3.59 3.61 3.62 3.63 3.63 3.23 3.24 3.26 3.27 3.27 3.39 3.41 3.43 3.43 3.43 3.29 3.30 3.32 3.32 3.32 1956—Jan. 7 14 21 28 2.92 2.90 2.87 2.87 2.71 2.65 2.61 2.59 2.72 2.69 2.68 2.67 2.29 2.27 2.27 2.27 2.48 2.46 2.45 2.45 2.83 2.79 2.76 2.74 3.26 3.25 3.22 3.22 3.15 3.11 3.08 3.07 3.33 3.32 3.30 3.29 3.14 3.13 3.11 3.09 3.22 3.21 3.19 3.18 3.33 3.32 3.30 3.28 3.62 3.61 3.60 3.59 3.25 3.24 3.23 3.21 3.43 3.43 3.40 3.39 3.31 3.29 3.27 3.26 Feb. 4 11 18 25 2.85 2.85 2.84 2.87 2.59 2.56 2.55 2.58 2.66 2.64 2.62 2.62 2.24 2.18 2.17 2.17 2.44 2.40 2.38 2.37 2.75 2.74 2.72 2.72 • 3.22 3.22 3.20 3.20 3.06 3.08 3.06 3.06 3.28 3.28 3.27 3.27 3.09 3.08 3.07 3.07 3.17 3.17 3.16 3.15 3.28 3.28 3.28 3.27 3.59 3.58 3.58 3.58 3.20 3.20 3.20 3.19 3.39 3.37 3.37 3.37 3.26 3.26 3.26 3.24 Mar. 3 10 17 24 31 2.87 2.89 2.92 2.95 2.98 2.60 2.63 2.66 2.68 2.77 2.62 2.63 2.67 2.70 2.75 2.18 2.18 2.25 2.27 2.33 2.38 2.39 2.41 2.47 2.53 2.72 2.73 2.77 2.80 2.84 3.20 3.20 3.23 3.26 3.29 3.07 3.07 3.09 3.14 3.15 3.27 3.27 3.29 3.31 3.33 3.07 3.08 3.10 3.12 3.14 3.16 3.16 3.17 3.20 3.22 3.27 3.27 3.28 3.31 3.33 3.58 3.58 3.59 3.60 3.62 3.20 3.21 3.23 3.27 3.30 3.37 3.36 3.37 3.38 3.39 3.25 3.25 3.26 3.28 3.30 Apr. 7 14 21 28 3.04 3.07 3.10 3.09 2.81 2.85 2.90 2.96 2.78 2.80 2.85 2.91 2.38 2.38 2.43 2.51 2.54 2.58 2.64 2.69 2.85 2.88 2.94 2.99 3.33 3.35 3.40 3.44 3.19 3.21 3.26 3.28 3.35 3.39 3.43 3.46 3.16 3.21 3.27 3.30 3.25 3.28 3.32 3.35 3.36 3.38 3.43 3.46 3.64 3.67 3.70 3.72 3.33 3.36 3.41 3.40 3.42 3.45 3.49 3.52 3.32 3.34 3.39 3.45 3.03 3.00 2.96 2.87 2.86 2.83 2.91 2.86 2.83 2.80 2.51 2.48 2.44 2.44 2.70 2.64 2.61 2.61 2.99 2.92 2.89 2.83 3.44 3.40 3.37 3.33 3.28 3.26 3.27 3.28 3.46 3.45 3.45 3.46 3.30 3.27 3.27 3.27 3.34 3.33 3.34 3.35 3.46 3.46 3.47 3.47 3.72 3.72 3.73 3.73 3.39 3.39 3.40 3.40 3.54 3.52 3.53 3.54 3.44 June 2 9 16 23 30 2.92 2.92 2.91 2.92 2.95 2.78 2.76 2.73 2.74 2.76 2.77 2.74 2.70 2.70 2.72 2.42 2.38 2.33 2.32 2.34 2.56 2.54 2.50 2.51 2.52 2.79 2.74 2.72 2.72 2.76 3.31 3.28 3.23 3.26 3.26 3.28 3.28 3.28 3.29 3.28 3.46 3.46 3.46 3.46 3.47 3.27 3.27 3.26 3.26 3.27 3.35 3.35 3.35 3.36 3.36 3.48 3.48 3.48 3.48 3.49 3.74 3.75 3.75 3.75 3.77 3.39 3.39 3.39 3.39 3.40 3.54 3.56 3.56 3.56 3.55 3.46 July 7 14 21 28 2.94 2.97 3.01 3.05 2.78 2.77 2.78 2.79 2.76 2.78 2.79 2.80 2.38 2.38 2.40 2.41 2.56 2.57 2.58 2.59 2.80 2.81 2.82 2.83 3.31 3.34 3.35 3.37 3.28 3.31 3.29 3.32 3.48 3.49 3.49 3.52 3.26 3.27 3.28 3.30 3.37 3.38 3.38 3.40 3.50 3.50 3.51 3.53 3.78 3.78 3.79 3.82 3.40 3.40 3.41 3.44 3.57 3.58 3.59 3.61 3.46 3.47 3.48 3.49 Aug. 4 11 18 25 3.09 3.11 3.16 3.22 2.83 2.88 2.94 3.00 2.84 2.87 2.94 2.99 2.45 2.47 2.53 2.59 2.62 2.65 2.71 2.76 2.86 2.90 2.97 3.04 3.42 3.46 3.54 3.57 3.35 3.38 3.42 3.45 3.55 3.59 3.62 3.65 3.35 3.38 3.42 3.47 3.43 3.46 3.49 3.52 3.56 3.60 3.63 3.65 3.85 3.90 3.94 3.95 3.48 3.51 3.55 3.59 3.65 3.68 3.71 3.74 3.52 3.57 3.61 3.62 Sept. 1 8 15 22 29 3.22 3.24 3.23 3.19 3.20 3.04 3.05 3.10 3.08 3.05 3.04 3.07 3.06 3.06 3.06 2.62 2.62 2.63 2.63 2.62 2.81 2.83 2.85 2.86 2.85 3.11 3.12 3.14 3.15 3.15 3.60 3.60 3.60 3.61 3.60 3.50 3.56 3.60 3.59 3.62 3.68 3.71 3.74 3.76 3.78 3.49 3.53 3.55 3.56 3.58 3.56 3.59 3.62 3.64 3.66 3.67 3.71 3.73 3.75 3.76 3.97 4.01 4.05 4.09 4.12 3.61 3.66 3.68 3.69 3.70 3.78 3.80 3.81 3.84 3.87 3.64 3.67 3.72 3.76 3.78 Oct. 6 13 20... 27... 3.17 3.18 3.19 3.24 3.06 3.08 3.12 3.19 3.05 3.07 3.14 3.21 2.61 2.63 2.68 2.72 2.85 2.89 2.94 3.04 3.15 3.15 3.21 3.31 3.58 3.62 3.71 3.77 3.61 3.59 3.61 3.65 3.79 3.80 3.81 3.83 3.58 3.57 3.57 3.61 3.67 3.67 3.69 3.70 3.78 3.80 3.82 3.83 4.14 4.16 4.16 4.18 3.72 3.74 3.75 3.76 3.87 3.86 3.87 3.92 3.79 3.80 3.82 3.82 Nov. 3... 10... 17... 24... 3.27 3.28 3.28 3.30 3.23 3.27 3.37 3.41 3.24 3.29 3.38 3.49 2.74 2.79 2.85 2.98 3.06 3.07 3.15 3.23 3.35 3.42 3.53 3.67 3.82 3.89 3.99 4.09 3.69 3.68 3.72 3.76 3.86 3.87 3.88 3.92 3.65 3.66 3.67 3.71 3.72 3.73 3.73 3.79 3.85 3.86 3.87 3.92 4.20 4.21 4.22 4.26 3.77 3.78 3.79 3.85 3.95 3.97 3.99 4.04 3.84 3.85 3.85 3.87 Dec. 1... 8... 15... 22... 29... 3.35 3.35 3.37 3.45 3.44 3.45 3.45 3.43 3.43 3.44 3.53 3.55 3.56 3.58 3.59 3.01 3.02 3.04 3.05 3.05 3.29 3.32 3.32 3.32 3.33 3.69 3.69 3.72 3.73 3.75 4.12 4.15 4.17 4.20 4.22 3.79 3.78 3.75 3.83 3.85 3.95 3.96 3.97 4.00 4.02 3.73 3.72 3.72 3.76 3.79 3.81 3.83 3.84 3.86 3.87 3.94 3.97 3.98 3.99 4.00 4.30 4.32 4.35 4.38 4.41 3.89 3.90 3.92 3.97 4.02 4.07 4.07 4.08 4.08 4.10 3.88 3.91 3.93 3.93 3.94 19'.'.'.'.'.'.'.'.'. 2.98 26 2.94 T 11. BOND YIELDS, BY TYPE OF SECURITY — Continued B. WEEKLY, 1941-63 — Continued [Per cent per annum] Corporate bonds Government bonds Moody's State and local Week ending— United States (longterm) Standard and Poor's AAA Moody's Standard and Poor's Total Aaa Aa By group By rating Total Baa Aaa Baa Aa Industrial Railroad Public utility 1957—Jan. 5 12 19 26 3.50 3.45 3.33 3.26 3.44 3.45 3.42 3.37 3.58 3.57 3.53 3.47 3.05 3.05 3.02 2.96 3.32 3.31 3.27 3.19 3.73 3.71 3.65 3.59 4.22 4.22 4.17 4.13 3.85 3.84 3.80 3.77 4.06 4.06 4.05 4.03 3.82 3.81 3.78 3.73 3.90 3.91 3.90 3.88 4.03 4.02 4.03 4.00 4.46 4.49 4.50 4.48 4.05 4.06 4.04 4.00 4.14 4.14 4.13 4.11 3.97 3.97 3.99 3.98 Feb. 2 9 16 23 3.24 3.18 3.19 3.26 3.34 3.30 3.24 3.22 3.39 3.33 3.26 3.24 2.87 2.81 2.76 2.76 3.09 3.06 3.00 3.00 3.51 3.44 3.34 3.31 4.08 4.00 3.94 3.90 3.74 3.73 3.71 3.68 4.01 4.01 3.99 3.98 3.72 3.69 3.67 3.66 3.86 3.86 3.82 3.81 4.00 3.99 3.98 3.99 4.48 4.48 4.47 4.46 3.98 3.97 3.94 3.93 4:09 4.08 4.06 4.06 3.97 3.98 3.97 3.96 Mar. 2 9 16 23 30 3.27 3.28 3.26 3.26 3.24 3.26 3.31 3.33 3.33 3.29 3.34 3.37 3.36 3.36 3.33 2.83 2.90 2.88 2.88 2.86 3.13 3.17 3.15 3.15 3.12 3.40 3.42 3.42 3.42 3.40 3.99 3.99 3.99 3.97 3.93 3.68 3.69 3.68 3.69 3.68 3.98 3.97 3.97 3.97 3.96 3.66 3.66 3.66 3.67 3.66 3.80 3.79 3.80 3.80 3.79 3.99 3.97 3.97 3.96 3.96 4.47 4.45 4.43 4.42 4.42 3.93 3.92 3.90 3.90 3.88 4.05 4.04 4.04 4.04 4.05 3.96 3.95 3.95 3.96 3.94 3.25 3.28 3.34 3.38 3.27 3.27 3.35 3.41 3.32 3.32 3.33 3.43 2.84 2.84 2.87 2.96 3.11 3.11 3.13 3.24 3.38 3.38 3.43 3.52 3.93 3.93 3.93 4.00 3.67 3.69 3.71 3.72 3.96 3.95 3.96 3.98 3.66 3.66 3.67 3.69 3.79 3.78 3.78 3.79 3.95 3.95 3.96 3.96 4.42 4.42 4.44 4.45 3.88 3.87 3.88 3.91 4.04 4.05 4.06 4.07 3.94 3.93 3.94 3.95 18 25 3.38 3.37 3.40 3.41 3.44 3.44 3.51 3.57 3.44 3.45 3.45 3.49 2.97 2.99 2.99 2.99 3.23 3.23 3.24 3.26 3.51 3.52 3.52 3.54 4.03 4.05 4.06 4.15 3.75 3.73 3.76 3.79 3.99 4.01 4.02 4.03 3.71 3.72 3.73 3.75 3.81 3.83 3.83 3.84 3.97 3.98 3.99 3.99 4.48 4.50 4.53 4.54 3.93 3.93 3.94 3.96 4.10 4.12 4.14 4.14 3.96 3.97 3.97 3.99 June 1 8 15 22 29 3.47 3.49 3.52 3.66 3.64 3.64 3.70 3.72 3.78 3.80 3.57 3.60 3.64 3.68 3.69 3.10 3.14 3.17 3.23 3.23 3.33 3.35 3.40 3.44 3.45 3.62 3.63 3.67 3.71 3.74 4.23 4.27 4.31 4.33 4.35 3.82 3.87 3.93 3.94 3.95 4.06 4.09 4.14 4.18 4.21 3.79 3.82 3.88 3.94 3.97 3.86 3.90 3.96 4.01 4.05 4.02 4.05 4.07 4.10 4.13 4.56 4.59 4.62 4.66 4.68 4.03 4.06 4.12 4.17 4.20 4.14 4.21 4.25 4.28 4.32 4.01 4.02 4.05 4.08 4.11 3.59 3.56 3.59 3.65 3.73 3.71 3.72 3.78 3.67 3.59 3.63 3.69 3.20 3.11 3.14 3.22 3.42 3.34 3.38 3.48 3.73 3.68 3.73 3.77 4.33 4.24 4.28 4.30 3.97 3.96 3.99 4.04 4.24 4.23 4.25 4.28 4.00 3.97 3.98 4.01 4.08 4.07 4.11 4.12 4.16 4.16 4.20 4.24 4.71 4.72 4.72 4.74 4.20 4.16 4.17 4.21 4.36 4.36 4.40 4.42 4.16 4.17 4.19 4.21 3.63 3.63 3.66 3.63 3.62 3.80 3.85 3.92 3.96 3.92 3.71 3.81 3.84 3.90 3.92 3.25 3.34 3.37 3.44 3.45 3.49 3.60 3.66 3.71 3.72 3.78 3.89 3.91 3.94 3.98 4.30 4.41 4.43 4.51 4.51 4.06 4.09 4.11 4.15 4.14 4.31 4.34 4.36 4.38 4.41 4.05 4.07 4.09 4.11 4.12 4.16 4.20 4.21 4.20 4.23 4.28 4.31 4.34 4.36 4.39 4.76 4.78 4.82 4.84 4.87 4.26 4.26 4.29 4.29 4.30 4.42 4.45 4.49 4.51 4.53 4.26 4.32 4.31 4.34 4.37 3.59 3.60 3.71 3.72 3.92 3.91 3.91 3.87 3.90 3.89 3.89 3.87 3.44 3.43 3.43 3.41 3.70 3.67 3.69 3.67 3.97 3.97 3.96 3.94 4.49 4.49 4.49 4.47 4.15 4.13 4.14 4.16 4.43 4.42 4.44 4.45 4.12 4.11 4.12 4.14 4.26 4.25 4.26 4.29 4.41 4.41 4.43 4.44 4.91 4.91 4.94 4.96 4.31 4.31 4.30 4.31 4.55 4.53 '4.55 4.59 4.41 4.43 4.46 4.47 3.72 3.71 3.76 3.74 3.83 3.77 3.76 3.79 3.84 3.73 3.71 3.71 3.38 3.29 3.29 3.28 3.64 3.49 3.45 3.45 3.91 3.78 3.75 3.74 4.46 4.36 4.33 4.36 4.12 4.12 4.10 4.14 4.45 4.44 4.45 4.47 4.12 4.09 4.07 4.11 4.27 4.26 4.28 4.28 4.44 4.46 4.46 4.47 4.97 4.96 4.98 5.01 4.31* 4.31 4.31 4.34 4.58 4.55 4.57 4.58 4.47 4.47 4.47 4.49 Apr ,!:::::: 20 27 May ,t:::::: July >!:::::•: 20 27 Aug. 3 10 17 24 31 Sept ^:::::: 21 28 Oct. 5 12 19 http://fraser.stlouisfed.org/ 26 Federal Reserve Bank of St. Louis Nov. 2 9 16 23 30 3.74 3.68 3.62 3.49 3.48 3.82 3.80 3.82 3.73 3.67 3.72 3.72 3.73 3.67 3.56 3.30 3.30 3.28 3.23 3.16 3.46 3.48 3.49 3.39 3.31 3.74 3.74 3.74 3.69 3.53 4.37 4.37 4.39 4.37 4.25 4.17 4.17 4.17 4.09 4.07 4.48 4.51 4.50 4.49 4.47 4.12 4.12 4.12 4.06 4.02 4.29 4.30 4.30 4.30 4.28 4.48 4.50 4.50 4.50 4.49 5.04 5.09 5.10 5.09 5.10 4.35 4.38 4.37 4.31 4.30 4.60 4.62 4.64 4.67 4.67 4.50 4.51 4.51 4.48 4.46 Dec. 7 14 21 28 3.37 3.31 3.29 3.26 3.57 3.48 3.45 3.43 3.43 3.34 3.27 3.26 3.03 2.94 2.86 2.84 3.12 3.06 3.01 3.01 3.44 3.33 3.28 3.28 4.14 4.03 3.92 3.92 3.99 3.91 3.80 3.68 4.44 4.35 4.27 4.23 3.97 3.84 3.77 3.73 4.23 4.13. 4.04 3.98 4.46 4.36 4.27 4.20 5.09 5.06 5.00 5.00 4.23 4.15 4.07 4.01 4.64 4.57 4.50 4.48 4.43 4.32 4.26 4.19 1958—Jan. 4 11 18 25 3.22 3.20 3.21 3.27 3.44 3.41 3.33 3.26 3.28 3.26 3.12 3.08 2.86 2.86 2.68 2.65 3.05 3.01 2.87 2.87 3.28 3.29 3.15 3.07 3.92 3.88 3.77 3.73 3.66 3.64 3.58 3.57 4.17 4.13 4.07 4.02 3.68 3.65 3.61 3.57 3.92 3.87 3.82 3.77 4.13 4.05 4.01 3.96 4.96 4.92 4.84 4.77 4.00 3.96 3.91 3.87 4.37 4.33 4.31 4.26 4.15 4.08 3.99 3.93 Feb. 1 8 15 22 3.28 3.27 3.25 3.25 3.26 3.34 3.36 3.36 3.12 3.14 3.13 3.15 2.68 2.70 2.70 2.73 2.92 2.96 2.95 2.95 3.10 3.11 3.11 3.12 3.76 3.77 3.77 3.78 3.56 3.59 3.60 3.60 4.00 4.01 4.01 4.00 3.56 3.59 3.59 3.58 3.77 3.79 3.78 3.76 3.96 3.99 4.00 4.00 4.72 4.68 4.66 4.64 3.84 3.87 3.86 3.85 4.29 4.30 4.29 4.28 3.89 3.88 3.87 3.86 Mar. 1 8 15 22 29 3.27 3.27 3.27 3.24 3.21 3.42 3.45 3.45 3.45 3.46 3.19 3.20 3.22 3.24 3.25 2.76 2.78 2.78 2.79 2.79 2.98 3.01 3.03 3.05 3.06 3.17 3.19 3.22 3.23 3.24 3.85 3.85 3.86 3.89 3.90 3.60 3.63 3.63 3.64 3.67 4.00 4.03 4.03 4.04 4.05 3.60 3.62 3.62 3.63 3.64 3.75 3.76 3.78 3.79 3.79 4.02 4.06 4.06 4.06 4.06 4.65 4.66 4.67 4.68 4.69 3.85 3.86 3.86 3.86 3.87 4.29 4.29 4.30 4.31 4.32 3.87 3.93 3.95 3.95 3.95 19 26 3.19 3.15 3.10 3.07 3.42 3.37 3.31 3.24 3.23 3.17 3.16 3.09 2.77 2.70 2.69 2.64 3.05 3.01 3.01 2.95 3.22 3.17 3.17 3.12 3.88 3.81 3.78 3.66 3.66 3.65 3.62 3.60 4.04 4.03 4.02 4.00 3.64 3.62 3.61 3.57 3.78 3.80 3.78 3.76 4.03 4.03 4.01 3.99 4.69 4.67 4.66 4.66 3.86 3.85 3.83 3.81 4.33 4.34 4.33 4.30 3.92 3.91 3.89 3.89 May 3 10 17 24 31 3.14 3.14 3.15 3.13 3.13 3.23 3.25 3.26 3.26 3.21 3.08 3.09 3.14 3.14 3.14 2.64 2.66 2.71 2.71 2.71 2.93 2.94 2.96 2.96 2.95 3.10 3.12 3.13 3.13 3.13 3.64 3.65 3.76 3.60 3.61 3.63 3.61 3.59 3.99 4.00 4.00 4.00 3.99 3.55 3.57 3.57 3.57 3.57 3.75 3.77 3.78 3.78 3.79 3.99 4.01 4.03 4.02 4.02 4.66 4.63 4.62 4.62 4.60 3.80 3.81 3.80 3.79 3.79 4.29 4.30 4.31 4.31 4.30 3.87 3.89 3.90 3.89 3.89 June 7 14 21 28 3.14 3.15 3.21 3.26 3.21 3.22 3.26 3.35 3.14 3.14 3.15 3.21 2.72 2.72 2.75 2.78 2.94 2.94 2.96 3.01 3.13 3.12 3.14 3.20 3.76 3.84 i 3.60 3.59 3.60 3.65 3.98 3.97 3.96 3.98 3.56 3.56 3.57 3.61 3.78 3.77 3.76 3.79 4.02 4.01 3.98 4.00 4.58 4.55 4.53 4.54 3.77 3.76 3.75 3.78 4.30 4.27 4.26 4.29 3.88 3.88 3.88 3.90 19 26 3.26 3.31 3.39 3.38 3.37 3.43 3.45 3.46 3.22 3.22 3.22 3.22 2.78 2.78 2.78 2.78 3.03 3.03 3.02 3.04 3.22 3.23 3.23 3.24 3.84 3.85 3.83 3.82 3.64 3.66 3.72 3.74 3.99 3.98 4.01 4.04 3.62 3.63 3.67 3.70 3.79 3.79 3.82 3.86 4.01 4.00 4.03 4.05 4.53 4.51 4.52 4.55 3.79 3.79 3.80 3.83 4.29 4.27 4.30 4.33 3.89 3.90 3.93 3.97 2 9 16 23 30 3.44 3.53 3.61 3.62 3.67 3.52 3.63 3.68 3.76 3.88 3.25 3.34 3.47 3.55 3.66 2.84 2.91 3.04 3.12 3.22 3.05 3.14 3.27 3.35 3.49 3.29 3.38 3.53 3.63 3.70 3.83 3.92 4.03 4.10 4.21 3.74 3.78 3.79 3.89 3.97 4.06 4.11 4.16 4.20 4.25 3.71 3.77 3.83 3.89 3.94 3.86 3.91 3.97 4.00 4.06 4.09 4.13 4.17 4.20 4.25 4.56 4.60 4.66 4.71 4.74 3.84 3.87 3.92 3.96 4.02 4.34 4.38 4.41 4.44 4.47 4.01 4.07 4.14 4.20 4.27 20 27 3.72 3.75 3.76 3.74 3.95 3.98 3.95 3.94 3.75 3.77 3.74 3.71 3.29 3.31 3.28 3.24 3.57 3.62 3.58 3.53 3.81 3.82 3.80 3.76 4.31 4.34 4.32 4.29 4.03 4.07 4.12 4.10 4.33 4.38 4.41 4.42 4.03 4.07 4.10 4.11 4.13 4.19 4.22 4.23 4.34 4.41 4.42 4.42 4.80 4.86 4.88 4.90 4.15 4.24 4.26 4.26 4.50 4.51 4.52 4.53 4.33 4.40 4.44 4.45 Oct. 4 11 18 25 3.83 3.72 3.74 3.77 3.97 3.95 3.94 3.93 3.72 3.73 3.67 3.68 3.25 3.25 3.21 3.23 3.55 3.56 3.48 3.49 3.78 3.81 3.73 3.74 4.29 4.30 4.26 4.24 4.13 4.10 4.07 4.07 4.43 4.44 4.42 4.41 4.13 4.13 4.09 4.10 4.23 4.23 4.20 4.20 4.44 4.46 4.44 4.44 4.92 4.94 4.94 4.91 4.26 4.26 4.23 4.24 4.55 4.57 4.58 4.55 4.48 4.49 4.46 4.44 Nov. 1 8 15 22 29 3.75 3.75 3.71 3.69 3.67 3.89 3.88 3.86 3.81 3.80 3.64 3.60 3.59 3.59 3.57 3.21 3.19 3.17 3.17 3.14 3.45 3.41 3.39 3.39 3.34 3.73 3.69 3.69 3.70 3.68 4.16 4.12 4.12 4.11 4.10 4.13 4.11 4.10 4.08 4.06 4.42 4.42 4.41 4.39 4.38 4.12 4.11 4.10 4.08 4.07 4.21 4.21 4.22 4.20 4.19 4.44 4.45 4.45 4.42 4.41 4.90 4.89 4.88 4.86 4.85 4.25 4.25 4.24 4.23 4.22 4.57 4.57 4.57 4.57 4.55 4.44 4.44 4.42 4.38 4.37 Dec. 6 13 20 27 3.73 3.77 3.83 3.84 3.81 3.82 3.83 3.86 3.57 3.57 3.56 3.56 3.14 3.13 3.11 3.12 3.35 3.35 3.33 3.35 3.68 3.68 3.68 3.68 4.10 4.10 4.10 4.10 4.07 4.08 4.09 4.12 4.38 4.38 4.38 4.39 4.06 4.06 4.07 4.09 4.19 4.19 4.17 4.18 4.41 4.41 4.41 4.43 4.85 4.84 4.85 4.86 4.23 4.23 4.23 4.24 4.53 4.52 4.52 4.53 4.38 4.38 4.38 4.40 Ap M::::::::: JU M::::::::: Aug. Sept .f::::::::: T 11. BOND YIELDS, BY TYPE OF SECURITY — Continued B. WEEKLY, 1941-63 — Continued [Per cent per annum] Corporate bonds Government bonds State and local Week ending— 1959_j a n . May 2 9 16 23 30 June 6 13. 20 27 July 4 11 18 25 Aug. 1 8 15 22 29. Sent. 5 12!:::::::: 19 26 . . 3.86 3.86 3.85 3 87 3.90 3.57 3.60 3.58 3.59 3.62 3.12 3.19 3.19 3.19 3.20 3.36 3.39 3.39 4.40 3.43 3.69 3.71 3.65 3.67 3.70 4.10 4.12 4.08 4.10 4.13 4.12 4.11 4.13 4.15 4.18 3 93 3 92 3.91 3.90 3 90 3.86 3.84 3.78 3.62 3.60 3.55 3.51 3.20 3.18 3.13 3.11 3.45 3.43 3.35 3.28 3.70 3.69 3.65 3.61 4.13 4.11 4.05 4.03 3.74 3 76 3.74 3.78 3.44 3 44 3.44 3.44 3.06 3.06 3.06 3.06 3.23 3 21 3.23 3.23 3.54 3.55 3.53 3.56 3.78 3.80 3 83 3 88 3.47 3.49 3 51 3 58 3.07 3.09 3 09 3.14 3.26 3.28 3 34 3.41 3 93 3 96 3.97 3 97 3 97 3 61 3.65 3.71 3 72 3 73 3.18 3.23 3.30 3.31 3.31 4.00 4 01 4.06 4.10 3.73 3 76 3.82 3.88 4.10 4 09 4.05 4.00 By rating Baa 4.10 4 08 4 06 4 08 4 15 18 25 A 4.12 4 13 4.08 4.10 Apr. 4 11 Aa 4.10 4 09 4.09 4.10 14 21 28 Aaa 4 05 4 05 4.09 4 11 4 08 28 Total 3.95 3.97 4 01 4 05 . Mar 7 Federal Reserve Bank of St. Louis Moody's Standard and Poor's 3.87 3 92 3.92 3.94 24 31 Oct. 3 10 17 24 http://fraser.stlouisfed.org/ 31 Moody's Standard and Poor's AAA 3.83 3.84 3.89 3 96 3.94 3 10 17 Feb. 7. 14 21 United States (longterm) By group Total Aaa Aa A Baa Industrial Railroad Public utility 4.40 4.40 4.41 4.41 4.44 4.10 4.09 4.11 4.12 4.16 4.19 4.20 4.22 4.23 4.25 4.43 4.44 4.43 4.42 4.43 4.87 4.85 4.86 4.88 4.90 4.25 4.26 4.27 4.28 4.30 4.54 4.53 4.53 4.51 4.55 4.40 4.41 4.42 4.45 4.46 4.17 4.16 4.14 4.13 4.43 4.44 4.42 4.41 4.15 4.14 4.14 4.13 4.25 4.25 4.24 4.22 4.43 4.44 4.43 4.40 4.90 4.90 4.89 4.89 4.30 4.31 4.32 4.31 4.54 4.53 4.50 4.47 4.47 4.47 4.46 4.44 3.95 3.93 3.92 3.92 4.11 4.13 4.14 4.15 4.40 4.40 4.41 4.41 4.11 4.13 4.13 4.14 4.21 4.22 4.24 4.26 4.39 4.40 4.41 4.41 4.87 4.87 4.85 4.83 4.29 4.29 4.28 4.27 4.48 4.50 4.52 4.52 4.43 4.42 4.42 4.43 3.59 3.59 3 62 3.69 3.97 3.98 3.98 4.06 4.18 4.19 4 21 4.25 4.42 4.43 4.45 4.49 4.17 4.20 4.22 4.26 4.27 4.28 4.31 4.35 4.41 4.41 4.42 4.48 4.84 4.84 4.83 4.88 4.30 4.31 4.33 4.39 4.53 4.54 4.54 4.58 4.44 4.45 4.46 4.51 3 43 3.48 3.54 3 55 3.57 3 73 3.77 3.81 3 83 3.83 4.09 4.12 4.19 4.20 4.20 4.29 4.33 4.37 4 38 4.43 4.52 4.55 4.58 4 63 4.66 4.30 4.33 4.36 4.39 4.42 4.37 4.41 4.44 4.49 4.52 4.51 4.53 4.58 4.65 4.70 4.91 4.93 4.94 4.97 5.01 4.41 4.42 4.44 4.48 4.52 4.59 4.62 4.65 4.70 4.72 4.57 4fc62 4.56 4.70 4.74 3.31 3.32 3.39 3.45 3.57 3.60 3.69 3.73 3.83 3.87 3.91 3.97 4.20 4.23 4.29 4.38 4.43 4.47 4.46 4.47 4.68 4.69 4.70 4.70 4.44 4.47 4.46 4.47 4.54 4.56 4.57 4.58 4.70 4.70 4.70 4.71 5.03 5.03 5.04 5.04 4.53 4.55 4.57 4.57 4.75 4.76 4.76 4.76 4.76 4.76 4.76 4.78 3.96 3 94 3.93 3.89 3.54 3.52 3.51 3.48 3.80 3.78 3.76 3.71 4.03 4.00 4.00 3.97 4.46 4.45 4.45 4.39 4.48 4.48 4.48 4.47 4.71 4.72 4.72 4.72 4.48 4.48 4.47 4.46 4.59 4.59 4.59 4.58 4.72 4.74 4.76 4.75 5.05 5.07 5.09 5.09 4.57 4.57 4.59 4.58 4.79 4.79 4.79 4.79 4.78 4.79 4.79 4.79 3.97 3 94 3.94 3 94 4 00 3.89 3 84 3.84 3 83 3.83 3.48 3.44 3.43 3 43 3.44 3.71 3.64 3.63 3 63 3.63 3.97 3.91 3.91 3 90 3.90 4.39 4.37 4.37 4.35 4.35 4.45 4.43 4.42 4.43 4.47 4.72 4.70 4.70 4.70 4.73 4.45 4.43 4.42 4.42 4.44 4.59 4.58 4.57 4.56 4.59 4.74 4.73 4.72 4.73 4.77 5.07 5.08 5.09 5.09 5.11 4.57 4.55 4.54 4.55 4.58 4.80 4.80 4.80 4.80 4.82 4.77 4.77 4.76 4.76 4.79 4 24 4.25 4.30 4.27 4 09 4.11 4.16 4.16 3 90 3.94 3.97 3.98 3.52 3.59 3.63 3.65 3.73 3.77 3.80 3.81 3.95 3.99 4.01 4.01 4.38 4.41 4.44 4.44 4.52 4.51 4.54 4.55 4.77 4.78 4.81 4.85 4.47 4.49 4.52 4.54 4.63 4.65 4.69 4.73 4.83 4.84 4.86 4.90 5.13 5.15 5.18 5.22 4.63 4.65 4.69 4.71 4.83 4.85 4.86 4.93 4.83 4.85 4.89 4.92 4.21 4 14 4.13 4.06 4.09 4.12 4 07 4.01 3.95 3.93 3.97 3 94 3.92 3.86 3.83 3.64 3.61 3.58 3.53 3.49 3.80 3.75 3.71 3.66 3.63 4.01 3.99 3.97 3.93 3.91 4.44 4.41 4.40 4.34 4.31 4.57 4.54 4.54 4.55 4.57 4.87 4.88 4.87 4.86 4.85 4.57 4.57 4.56 4.56 4.56 4.76 4.76 4.75 4.76 4.75 4.91 4.89 4.88 4.86 4.85 5.26 5.28 5.29 5.28 5.26 4.70 4.70 4.69 4.70 4.70 4.95 4.97 4.97 4.96 4.95 4.96 4.96 4.96 4.93 4.91 Nov. 7 14 21 28 4.09 4.10 4.13 4.15 3.93 3.95 3.93 3.93 3.83 3.83 3.78 3.78 3.48 3.47 3.41 3.38 3.62 3.61 3.56 3.56 3.91 3.91 3.87 3.88 4.31 4.31 4.28 4.29 4.56 4.55 4.55 4.54 4.86 4.85 4.86 4.84 4.57 4.57 4.57 4.55 4.72 4.71 4.70 4.69 4.85 4.85 4.87 4.86 5.27 5.27 5.27 5.26 4.69 4.69 4.70 4.69 4.98 4.98 5.01 5.00 4.89 4.88 4.86 4.83 Dec. 5 12 19 26 4.21 4.22 4.25 4.32 3.97 4.01 4.06 4.11 3.80 3.79 3.81 3.89 3.38 3.38 3.40 3.49 3.57 3.57 3.60 3.67 3.90 3.88 3.90 3.99 4.33 4.33 4.35 4.42 4.55 4.58 4.59 4.61 4.85 4.85 4.88 4.89 4.55 4.56 4.59 4.59 4.69 4.71 4.74 4.77 4.87 4.88 4.90 4.91 5.25 5.25 5.27 5.30 4.69 4.68 4.71 4.71 5.01 5.02 5.05 5.08 4.83 4.84 4.87 4.89 1960_Jan. 2 9 16 23 30 4.37 4.42 4.37 4.35 4.36 4.12 4.19 4.15 4.09 4.08 3.90 3.95 3.92 3.90 3.90 3.49 3.53 3.49 3.47 3.47 3.67 3.76 3.73 3.71 3.71 3.99 4.06 4.02 4.00 4.01 4.43 4.46 4.43 4.41 4.41 4.61 4.62 4.62 4.62 4.62 4.90 4.90 4.91 4.92 4.92 4.61 4.61 4.61 4.61 4.61 4.77 4.77 4.78 4.78 4.77 4.91 4.92 4.92 4.93 4.94 5.32 5.32 5.34 5.35 5.36 4.72 4.73 4.74 4.74 4.74 5.09 5.09 5.08 5.08 5.09 4.89 4.90 4.92 4.93 4.93 Feb. 6 13 20 27 4.29 4.20 4.16 4.22 4.01 3.95 3.95 3.97 3.88 3.83 3.81 3.82 3.43 3.38 3.38 3.39 3.69 3.65 3.63 3.65 3.98 3.93 3.90 3.91 4.40 4.35 4.31 4.32 4.60 4.56 4.53 4.52 4.92 4.90 4.87 4.86 4.60 4.57 4.54 4.54 4.76 4.73 4.69 4.67 4.94 4.93 4.91 4.91 5.36 5.36 5.33 5.31 4.73 4.72 4.70 4.70 5.08 5.07 5.04 5.02 4.93 4.91 4.86 4.85 Mar. 5 12 19 26 4.22 4.11 4.05 4.00 3.96 3.88 3.85 3.82 3.84 3.80 3.78 3.74 3.40 3.37 3.35 3.32 3.67 3.62 3.61 3.58 3.92 3.88 3.86 3.79 4.35 4.31 4.29 4.26 4.52 4.47 4.47 4.45 4.86 4.83 4.80 4.78 4.54 4.51 4.48 4.46 4.67 4.66 4.61 4.59 4.90 4.88 4.85 4.83 5.31 5.28 5.26 5.22 4.70 4.67 4.64 4.60 5.02 5.01 4.98 4.98 4.85 4.83 4.78 4.75 Apr. 2 9 16 23 30 4.07 4.10 4.18 4.21 4.20 3.82 3.80 3.83 3.85 3.87 3.70 3.70 3.71 3.70 3.75 3.28 3.28 3.29 3.29 3.34 3.54 3.54 3.55 3.53 3.56 3.75 3.75 3.77 3.78 3.80 4.22 4.22 4.24 4.23 4.28 4.43 4.42 4.45 4.46 4.44 4.75 4.74 4.75 4.76 4.78 4.45 4.44 4.45 4.45 4.46 4.56 4.56 4.56 4.58 4.61 4.81 4.79 4.79 4.80 4.81 5.18 5.17 5.18 5.21 5.23 4.59 4.58 4.59 4.61 3.63 4.95 4.96 4.96 4.96 4.98 4.71 4.68 4.68 4.70 4.72 May 7 14 21 28 4.17 4.13 4.18 4.16 3.87 3.81 3.85 3.85 3.73 3.73 3.78 3.79 3.32 3.32 3.37 3.38 3.53 3.53 3.58 3.60 3.79 3.79 3.85 3.86 4.28 4.28 4.33 4.33 4.44 4.44 4.47 4.45 4.80 4.79 4.80 4.81 4.46 4.45 4.46 4.47 4.61 4.61 4.61 4.62 4.83 4.83 4.84 4.85 5.27 5.28 5.28 5.28 4.65 4.65 4.65 4.66 4.98 4.97 4.98 4.98 4.76 4.76 4.76 4.77 June 4 11 18 25 4.07 4.00 3.96 3.97 3.85 3.81 3.76 3.72 3.78 3.78 3.72 3.71 3.38 3.38 3.31 3.30 3.58 3.58 3.50 3.50 3.85 3.84 3.80 3.80 4.32 4.30 4.25 4.24 4.45 4.44 4.44 4.44 4.81 4.77 4.77 4.78 4.48 4.44 4.45 4.45 4.63 4.59 4.59 4.59 4.85 4.81 4.80 4.79 5.27 5.24 5.26 5.27 4.66 4.64 4.98 4.92 4.93 4.94 4.78 4.76 4.76 4.75 July 2 9 16 23 30 3.96 3.91 3.87 3.84 3.81 3.74 3.75 3.75 3.71 3.68 3.71 3.71 3.75 3.75 3.71 3.30 3.30 3.32 3.32 3.28 3.50 3.50 3.55 3.54 3.50 3.80 3.80 3.86 3.86 3.82 4.24 4.24 4.27 4.26 4.25 4.43 4.42 4.40 4.39 4.36 4.78 4.77 4.77 4.73 4.69 4.44 4.44 4.43 4.40 4.38 4.59 4.58 4.58 4.55 4.52 4.80 4.80 4.79 4.77 4.72 5.28 5.27 5.26 5.20 5.15 i 4.64 4.60 4.57 4.94 4.93 4.93 4.89 4.85 4.75 4.75 4.73 4.70 4.66 3.75 3.78 3.81 3.81 3.64 3.57 3.50 3.47 3.68 3.62 3.51 3.47 3.22 3.14 3.03 2.99 3.47 3.42 3.32 3.27 3.78 3.70 3.59 3.55 4.24 4.21 4.11 4.05 4.34 4.29 4.26 4.24 4.67 4.64 4.60 4.57 4.34 4.30 4.26 4.23 4.49 4.46 4.43 4.41 4.71 4.68 4.65 4.62 5.15 5.11 5.06 5.03 4.54 4.50 4.49 4.46 4.86 4.83 4.82 4.79 4.63 4.57 4.51 4.47 Sept. 3 10 17 24 3.84 3.84 3.84 3.79 3.48 3.49 3.52 3.54 3.46 3.50 3.57 3.57 2.99 3.03 3.13 3.13 3.26 3.31 3.40 3.41 3.55 3.59 3.66 3.66 4.05 4.07 4.09 4.09 4.23 4.24 4.25 4.24 4.57 4.56 4.57 4.58 4.23 4.23 4.26 4.26 4.40 4.41 4.41 4.41 4.62 4.61 4.63 4.63 5.01 4.98 4.99 5.02 4.45 4.45 4.46 4.46 4.79 4.77 4.79 4.78 4.46 4.46 4.47 4.50 Oct. 1 8 15..., 22.... 29 3.81 3.88 3.92 3.93 3.90 3.58 3.62 3.62 3.60 3.62 3.61 3.64 3.65 3.65 3.61 3.18 3.21 3.21 3.21 3.17 3.45 3.48 3.50 3.50 3.48 3.69 3.70 3.72 3.71 3.66 4.13 4.15 4.17 4.17 4.13 4.25 4.29 4.29 4.31 4.31 4.59 4.61 4.63 4.64 4.65 4.27 4.28 4.29 4.31 4.30 4.40 4.42 4.44 4.46 4.46 4.64 4.65 4.67 4.68 4.69 5.05 5.09 5.12 5.12 5.13 4.48 4.49 4.50 r 4.78 4.81 4.84 4.86 4.86 4.52 4.53 4.56 4.57 4.57 Nov. 5.... 12 19..., 26.... 3.90 3.91 3.92 3.94 3.48 3.45 3.43 3.46 3.59 3.59 3.54 3.55 3.16 3.16 3.12 3.12 3.45 3.45 3.38 3.38 3.65 3.64 3.60 3.61 4.11 4.11 4.07 4.07 4.32 4.32 4.33 4.36 4.64 4.63 4.63 4.65 4.30 4.29 4.30 4.32 4.47 4.47 4.46 4.49 T 5.10 5.08 5.07 5.08 i 4.50 4.52 4.87 4.84 4.83 4.85 4.55 4.55 4.56 4.57 Dec. 3..., 10.... 17..., 24..., 31.... 3.97 3.93 3.86 3.86 3.82 3.50 3.47 3.44 3.44 3.44 3.56 3.52 3.52 3.51 3.51 3.14 3.12 3.12 3.12 3.11 3.39 3.34 3.34 3.35 3.35 3.63 3.58 3.58 3.61 3.61 4.07 4.06 4.06 3.98 3.98 4.36 4.38 4.37 4.37 4.37 4.66 4.67 4.66 4.67 4.67 4.33 4.35 4.34 4.34 4.35 4.50 4.51 4.50 4.51 4.51 4.69 4.70 4.70 4.71 4.72 5.10 5.11 5.11 5.09 5.09 4.55 4.56 4.55 4.55 4.55 4.86 4.86 4.87 4.88 4.88 4.57 4.59 4.57 4.57 4.57 Aug i!::::::::: 20 27 i T 11. BOND YIELDS, BY TYPE OF SECURITY —Continued B. WEEKLY, 1941-63 — Continued [Per cent per annum] Government bonds Corporate bonds Moody's State and local Week ending— United States (longterm) Moody's Standard and Poor's AAA Standard and Poor's Total Aaa Aa A Baa 3.84 3.90 3.92 3.89 3.46 3.46 3.42 3.40 3.54 3.55 3.58 3.56 3.13 3.14 3.16 3.16 3.36 3.37 3.38 3.38 3.65 3.65 3.69 3.65 4.03 4.04 4.09 4.09 4.35 4.34 4.31 4.32 Feb. 4 11 18 25 3.88 3.84 3.81 3.76 3.40 3.35 3.31 3.27 3.56 3.53 3.53 3.51 3.16 3.14 3.14 3.12 3.38 3.35 3.34 3.33 3.65 3.59 3.57 3.55 4.09 4.05 4.05 4.05 Mar. 4 11 18 25 3.77 3.75 3.78 3.80 3.29 3.36 3.41 3.43 3.52 3.56 3.62 3.66 3.13 3.18 3.26 3.29 3.33 3.37 3.43 3.49 3.57 3.60 3.66 3.69 Apr. 1 8 15 22 29 3.81 3.82 3.81 3 81 3.78 3.43 3.44 3.44 3 44 3.44 3.65 3 64 3.62 3 58 3.58 3.30 3.30 3.30 3 24 3.24 3.48 3.50 3.48 3 46 3.46 20 27 3 72 3.70 3.71 3.78 3.38 3.34 3.34 3.40 3 56 3.56 3.56 3.58 3 24 3 24 3.24 3.27 June 3 10 17 24 3.79 3 86 3.86 3.90 3.42 3.48 3.53 3.54 3.58 3.67 3.67 3.64 July 1 8 15 22 29 3.93 3.92 3.92 3.88 3.89 3.55 3.56 3.55 3.50 3.50 Aug. 5 12 19 26 3.95 4 03 4.01 4.01 Sept 2 9 16 23 30 1961—Jan 7 14 21 28 . . . . 13: •:..:":: Oct. 7 By group .... Aaa Aa A Baa Industrial Railroad Public utility 4.66 4.66 4.65 4.65 4.34 4.33 4.32 4.31 4.50 4.48 4.47 4.47 4.70 4.70 4.69 4.68 5.08 5.10 5.11 5.12 4.55 4.53 4.52 4.51 4.86 4.87 4.86 4.87 4.57 4.57 4.58 4.56 4.30 4.27 4.27 4.26 4.63 4.61 4.60 4.58 4.30 4.28 4.27 4.25 4.46 4.42 4.40 4.38 4.67 4.64 4.64 4.61 5.10 5.07 5.07 5.06 4.49 4.47 4.44 4.43 4.85 4.82 4.83 4.83 4.55 4.53 4.51 4.48 4.05 4.09 4.12 4.16 4.23 4.22 4.22 4.23 4.56 4.55 4.53 4.53 4.23 4.22 4.21 4.22 4.36 4.35 4.33 4.32 4.60 4.58 4.57 4.55 5.04 5.02 5.02 5.02 4.41 4.40 4.39 4.39 4.80 4.79 4.78 4.77 4.46 4.44 4.43 4.42 3.71 3.68 3.68 3 64 3.64 4.11 4.06 4.03 3 98 3.98 4.22 4.25 4.26 4 28 4.30 4.53 4.53 4.54 4 56 4.58 4.22 4.23 4.24 4 26 4.28 4.32 4.34 4.36 4.39 4.41 4.55 5.56 4.57 4.60 4.62 5.02 5.01 5.00 5.00 5.01 4.39 4.41 4.44 4.47 4.50 4.77 4.75 4.74 4.75 4.77 4.42 4.44 4.45 4.47 4.47 3 44 3.44 3.44 3.47 3 62 3.62 3.62 3.62 3 95 3.95 3.95 3.95 4 30 4.28 4.29 4.31 4.59 4.58 4.58 4.58 4 29 4.27 4.25 4.27 4.41 4.40 4.41 4.42 4.62 4.62 4.63 4.64 5.02 5.01 5.01 5.01 4.49 4.47 4.47 4.48 4.78 4.76 4.77 4.77 4.49 4.49 4.49 4.50 3.28 3.35 3.37 3.37 3.47 3.55 3.55 3.52 3.62 3.69 3.69 3.71 3.95 3.99 3.99 3.97 4.33 4.36 4.38 4.38 4.60 4.62 4.62 4.64 4.29 4.31 4.33 4.34 4.42 4.44 4.44 4.47 4.66 4.68 4.68 4.70 5.02 5.03 5.03 5.04 4.50 4.52 4.54 4.54 4.80 4.81 4.81 4.84 4.50 4.51 4.52 4.52 3.63 3.64 3.63 3 62 3.61 3.37 3.37 3.36 3 34 3.33 3.52 3.53 3.51 3 49 3.48 3.71 3.72 3.72 3.70 3.68 3.94 3.94 3.95 3.93 3.93 4.40 4.41 4.41 4.42 4.44 4.66 4.67 4.69 4.70 4.71 4.36 4.39 4.41 4.41 4.42 4.49 4.51 4.52 4.55 4.54 4.71 4.73 4.74 4.76 4.76 5.05 5.07 5.08 5.09 5.10 4.57 4.59 4.58 4.60 4.60 4.84 4.87 4.88 4.91 4.90 4.55 4.57 4.59 4.60 4.62 3.52 3.56 3.56 3.56 3.60 3 62 3.63 3.63 3.32 3 32 3.33 3.33 3.48 3 51 3.51 3.51 3.68 3 69 3.71 3.93 3.97 3.97 3.97 4.46 4 47 4.47 4.46 4.72 4.73 4.74 4.74 4.45 4 45 4.45 4.44 4.56 4.57 4.57 4.58 4.77 4.78 4.80 4.81 5.11 5.11 5.12 5.11 4.60 4.60 4.61 4.61 4.92 4.92 4.92 4.93 4.65 4.66 4.68 4.68 4 01 4.02 4 06 4.02 3.98 . . . May 6 14 21 28 By rating Total 3 56 3.57 3 57 3.54 3.48 3 63 3.65 3 65 3.65 3.61 3 34 3.34 3 34 3.34 3.31 3 52 3.52 3 52 3.52 3.47 3.71 3.67 i 3.98 4.02 4.02 4.02 4.00 4 45 4.47 4 48 4.48 4.44 4.74 4.74 4.75 4.74 4.74 4 44 4.46 4 46 4.45 4.45 4.59 4.59 4.59 4.59 4.59 4.81 4.81 4.82 4.81 4.81 5.12 5.12 5.12 5.12 5.12 4.61 4.62 4.62 4.61 4.60 4.93 4.94 4.95 4.95 4.95 4.68 4.67 4.67 4.67 4.67 3.98 4 00 3.98 3.96 3.48 3 48 3.46 3.42 3 61 3 60 3.59 3.56 3 30 3 30 3.27 3.25 3.47 3 46 3.44 3.43 3.65 3 65 3.65 3.62 4.00 4 00 4.00 3.94 4.43 4 41 4.42 4.39 4.74 4.72 4.72 4.72 4.43 4.42 4.42 4.42 4.57 4.56 4.56 4.56 4.80 4.79 4.78 4.78 5.13 5.13 5.13 5.13 4.60 4.60 4.59 4.60 4.94 4.92 4.92 4.91 4.66 4.65 4.66 4.65 T 4.54 4.77 4.76 4.75 4.74 5.12 5.11 5.11 5.10 4.59 4.58 4.57 4.57 4.91 4.90 4.89 4.88 4.64 4.63 4.63 4.62 1 4.74 4.74 4.74 4.75 4.75 5.10 5.10 5.11 5.11 5.10 4.57 4.58 4.59 4.60 4.60 4.88 4.90 4.91 4.92 4.93 4.62 4.62 4.61 4.62 4.62 4.43 4.42 4.42 4.41 4.56 4.54 4.54 4.55 4.74 5.11 5.09 5.08 5.08 4.59 4.57 4.57 4.57 4.93 4.92 4.92 4.91 4.62 4.61 4.61 4.61 4.70 4.42 4.42 4.43 4.42 4.56 4.56 4.56 4.56 4.L 5.07 5.08 5.08 5.07 4.57 4.58 4.57 4.57 4.91 4.91 4.91 4.90 4.61 4.62 4.63 4.63 4.69 4.68 4.67 4.66 4.65 4.42 4.40 4.39 4.39 4.38 4.55 4.54 4.53 4.53 4.52 4.73 4.72 4.71 4.70 4.69 5.05 5.05 5.04 5.02 5.02 4.55 4.53 4.52 4.50 4.49 4.89 4.89 4.88 4.88 4.87 4.62 4.62 4.61 4.60 4.59 4.34 4.31 4.28 4.28 4.65 4.63 4.62 4.61 4.37 4.34 4.33 4.31 4.51 4.50 4.49 4.48 4.68 4.67 4.66 4.64 5.03 5.02 5.01 5.01 4.48 4.46 4.45 4.44 4.87 4.86 4.86 4.85 4.59 4.58 4.56 4.54 3.52 3.52 3.52 3.58 4.27 4.25 4.24 4.23 4.61 4.59 4.58 4.57 4.30 4.29 4.28 4.27 4.47 4.45 4.42 4.41 4.63 4.63 4.61 4.60 5.02 5.00 4.99 4.98 4.43 4.43 4.42 4.41 4.85 4.84 4.82 4.81 4.54 4.52 4.49 4.48 3.31 3.34 3.35 3.34 3.35 3.60 3.64 3.65 3.62 3.67 4.26 4.27 4.27 4.27 4.29 4.57 4.58 4.58 4.59 4.61 4.28 4.28 4.28 4.29 4.29 4.41 4.43 4.43 4.44 4.46 4.61 4.61 4.61 4.61 4.64 4.98 5.00 5.01 5.02 5.03 4.42 4.43 4.44 4.45 4.48 4.81 4.83 4.86 4.86 4.88 4.48 4.48 4.46 4.46 4.46 3.22 3.22 3.22 3.25 3.38 3.41 3.41 3.45 3.70 3.70 3.72 3.77 4.29 4.30 4.30 4.33 4.62 4.63 4.63 4.64 4.32 4.34 4.33 4.35 4.48 4.49 4.49 4.50 4.64 4.65 4.65 4.66 5.04 5.05 5.04 5.04 4.50 4.52 4.51 4.52 4.89 4.90 4.89 4.90 4.47 4.48 4.48 4.49 3.13 3.15 3.13 3.05 3.27 3.30 3.25 3.18 3.49 3.49 3.46 3.40 3.78 3.80 3.78 3.70 4.34 4.33 4.32 4.31 4.65 4.64 4.65 4.63 4.37 4.36 4.36 4.34 4.50 4.50 4.49 4.48 4.66 4.66 4.66 4.66 5.07 5.07 5.07 5.05 4.54 4.54 4.52 4.50 4.90 4.91 4.91 4.91 4.50 4.51 4.51 4.50 3.31 3.30 3.29 3.27 3.26 3.03 3.02 3.02 3.01 3.00 3.17 3.16 3.13 3.11 3.09 3.38 3.35 3.34 3.32 3.30 3.66 3.66 3.66 3.66 3.65 4.29 4.29 4.28 4.27 4.26 4.63 4.62 4.61 4.61 4.60 4.33 4.33 4.32 4.31 4.31 4.47 4.47 4.46 4.46 4.45 4.64 4.63 4.62 4.62 4.61 5.05 5.04 5.03 5.03 5.02 4.48 4.47 4.46 4.44 4.44 4.90 4.89 4.88 4.88 4.87 4.50 4.50 4.50 4.50 4.49 3.10 3.05 3.00 3.03 3.26 3.25 3.17 3.16 3.00 2.99 2.89 2.88 3.09 3.08 3.00 2.99 3.28 3.27 3.20 3.18 3.65 3.65 3.59 3.58 4.21 4.20 4.20 4.21 4.59 4.57 4.57 4.57 4.29 4.28 4.27 4.27 4.42 4.41 4.41 4.40 4.62 4.61 4.61 4.61 5.00 4.99 4.98 4.98 4.42 4.40 4.40 4.39 4.85 4.85 4.85 4.85 4.48 4.46 4.46 4.46 3.87 3.86 3.87 3.88 2.99 2.99 3.02 3.02 3.15 3.15 3.15 3.15 2.88 2.88 2.89 2.89 2.99 2.99 3.00 3.00 3.18 3.18 3.18 3.18 3.53 3.53 3.53 3.53 4.20 4.20 4.19 4.20 4.57 4.56 4.55 4.55 4.26 4.25 4.25 4.24 4.41 4.40 4.40 4.40 4.61 4.60 4.60 4.59 4.99 4.97 4.96 4.95 4.40 4.40 4.40 4.39 4.86 4.85 4.84 4.83 4.45 4.42 3.88 3.89 3.88 3.86 3.85 3.08 3.14 3.13 3.11 3.11 3.17 3.21 3.22 3.22 3.22 2.89 2.92 2.93 2.94 2.94 3.03 3.07 3.10 3.10 3.10 3.20 3.26 3.27 3.27 3.27 3.54 3.57 3.57 3.57 3.57 4.19 4.20 4.20 4.20 4.20 4.54 4.54 4.52 4.52 4.52 4.25 4.26 4.25 4.24 4.23 4.39 4.39 4.38 4.37 4.38 4.57 4.56 4.55 4.54 4.53 4.94 4.93 4.92 4.92 4.93 4.39 4.39 4.40 4.40 4.40 4.80 4.79 4.77 4.76 4.75 Nov. 4 11 18 25 3.95 3.96 4.00 3.98 3.41 3.39 3.42 3.46 3.53 3.53 3.56 3.59 3.24 3.24 3.26 3.29 3.38 3.38 3.41 3.44 3.58 3.58 3.64 3.65 3.93 3.93 3.95 3.96 4.40 4.38 4.38 4.39 4.71 4.70 4.70 4.69 4.40 4.39 4.39 4.39 Dec. 2 9 16 23 30 4.01 4.05 4.06 4.06 4.07 3.50 3.52 3.53 3.48 3.44 3.61 3.63 3.64 3.62 3.62 3.31 3.32 3.33 3.32 3.31 3.48 3.50 3.52 3.51 3.51 3.65 3.65 3.65 3.62 3.61 4.01 4.03 4.04 4.04 4.04 4.38 4.39 4.42 4.42 4.44 4.69 4.69 4.71 4.72 4.72 4.38 4.39 4.42 4.44 4.44 4.54 4.56 4.57 4.57 1962—Jan. 6 13 20 27 4.06 4.08 4.08 4.08 3.39 3.32 3.34 3.30 3.59 3.57 3.54 3.50 3.26 3.22 3.19 3.17 3.48 3.46 3.44 3.39 3.59 3.56 3.51 3.48 4.04 4.04 4.00 3.96 4.40 4.38 4.39 4.38 4.71 4.70 Feb. 3 10 17 24 4.10 4.09 4.08 4.12 3.25 3.26 3.26 3.30 3.44 3.40 3.35 3.39 3.12 3.09 3.04 3.08 3.31 3.28 3.25 3.28 3.43 3.41 3.35 3.39 3.88 3.83 3.78 3.81 4.39 4.40 4.41 4.39 Mar. 3 10 17 24 31 4.08 4.06 4.02 3.97 3.96 3.30 3.23 3.18 3.18 3.18 3.39 3.32 3.26 3.26 3.25 3.08 3.03 3.00 3.00 3.01 3.28 3.19 3.15 3.16 3.15 3.40 3.33 3.28 3.28 3.26 3.81 3.71 3.59 3.61 3.60 4.38 4.36 4.36 4.37 4.34 Apr. 7 14, 21 28 3.90 3.89 3.88 3.90 3.14 3.11 3.06 3.01 3.24 3.24 3.21 3.17 3.01 3.01 2.97 2.93 3.14 3.13 3.11 3.07 3.23 3.23 3.21 3.15 3.57 3.57 3.55 3.52 May 5 3.87 3.85 3.87 3.90 3.01 3.02 3.07 3.15 3.16 3.17 3.18 3.24 2.92 2.93 2.94 3.00 3.06 3.06 3.07 3.11 3.15 3.15 3.18 3.25 June 2 9 16 23 30. 3.89 3.88 3.87 3.90 3.95 3.21 3.23 3.24 3.24 3.24 3.27 3.30 3.31 3.29 3.32 3.04 3.05 3.06 3.05 3.08 3.14 3.15 3.16 3.15 3.19 July 7 14 21 28 3.99 4.03 4.03 4.02 3.27 3.29 3.31 3.33 3.35 3.36 3.36 3.39 3.09 3.09 3.09 3.11 Au,4 18. 25 4.03 4.00 3.98 3.94 3.38 3.37 3.31 3.26 3.42 3.44 3.41 3.33 Sept. 1 8 15 22 29 3.94 3.96 3.95 3.94 3.93 3.22 3.22 3.19 3.16 3.14 Oct. 6 13 20 27 3.90 3.90 3.88 3.89 Nov. 3 10 17 24 Dec. 1 8 15 22 29 19 26 T ' T T 4.42 4.40 4.40 11. BOND YIELDS, BY TYPE OF SECURITY — Continued B. WEEKLY, 1941-63 — Continued [Per cent per annum] Corporate bonds Government bonds Moody's State and local Week ending— United States (longterm) Moody's Standard and Poor's AAA Standard and Poor's Total Aaa Aa A Baa 3.87 3 87 3.87 3.91 3.11 3.08 3.09 3.15 3.22 3.22 3.20 3.21 2.94 2.94 2.94 2.95 3.10 3.10 3.04 3.07 3.26 3.26 3.25 3.25 3.57 3.57 3.55 3.55 4.19 4.18 4.17 4.17 3.90 3.92 3 91 3.92 3.19 3.20 3 18 3.17 3.23 3.23 3 23 3.23 2.97 2.98 2.98 2.98 3.10 3.10 3 10 3.10 3.27 3.27 3.27 3.27 3.57 3 94 3.92 3.93 3.94 3.95 3.17 3.17 3.10 3.07 3.08 3 25 3.25 3.23 3.18 3.19 3.02 3.02 2.98 2.93 2.93 3.12 3.12 3.09 3.06 3.06 3.29 3.28 3.27 3.19 3.21 3.95 3.96 3.99 3.98 3.08 3.11 3.13 3.13 3.20 3.20 3.21 3.23 2.94 2.95 2.99 3.00 3.06 3.06 3.07 3.09 3.98 3 97 3.96 3.97 3.13 3.12 3.14 3.15 3.23 3 23 3.19 3.20 3.01 3 01 2.97 2.97 3.99 4.00 3 99 4.00 4.00 3.20 3.24 3.26 3.29 3.27 3.22 3.29 3 30 3.32 3.32 4.02 4 03 4.02 4 00 3.28 3.33 3.33 3.29 3.99 3.99 3.99 3 99 3.99 Sept. 7 . 14 21 28 Oct 1963—Jan. 5 12 19 26 Feb. 2 9 16 23 . . Mar 2 9 16 23 30 Apr. 6 13 20 27 May 4 11 18 25 June 1 8 15 22 29 July 6 13 20 27 Aug. 3 10 17 24 31 5 12 19 26 By rating By group Total Aaa Aa A Baa Industrial Railroad Public utility 4.51 4.50 4.49 4.49 4.22 4.21 4.20 4.21 4.37 4.37 4.36 4.36 4.51 4.49 4.46 T 4.93 4.92 4.91 4.91 4.40 4 39 4.37 4.73 4 73 4 72 4 71 4.39 4 38 4 38 4 37 4.16 4.17 4.16 4.16 4.48 4.48 4.48 4.47 4.21 4.19 4.36 4.36 4.35 4.35 1 4.90 4.90 4.90 4.88 1 4 4 4 4 4 4 4 4 3.57 3.55 3.55 4.16 4.17 4.16 4.16 4.17 4.47 4.47 4.47 4.47 4.46 4.19 4.35 4.34 4.35 4.35 4.32 4.46 4.45 4.45 4.45 4.45 4.88 4.88 4.88 4.87 4.88 4 37 4.38 4.38 4.37 4.38 4 66 4 65 4.65 4.66 4 64 4 37 4 37 4.38 4.37 4 37 3.23 3.23 3.24 3.26 3.55 3.55 3.55 3.56 4.18 4.19 4.21 4.21 4.47 4.47 4.47 4.48 4.20 4.20 4.21 4.22 4.33 4.33 4.35 4.36 4.46 4.87 4.87 4.87 4.87 4.38 4.39 4.40 4.41 4.64 4 63 4.63 4.64 4.38 4 38 4.39 4.39 3.09 3 09 3.08 3.08 3.26 3.26 3.21 3.22 3.56 3.56 3.52 3.52 4.21 4.22 4.21 4.22 4.48 4.48 4.47 4.47 4.22 4.22 4.21 4.22 t 4.41 4 40 4.63 4 63 4.63 4.63 4.40 4 39 i 4.87 4.86 4.86 4.85 3.00 3.06 3.08 3.10 3.10 3.11 3.16 3.17 3.22 3.22 3.27 3.32 3.33 3.34 3.34 3.55 3.60 3.62 3.63 3.63 4.22 4.23 4.23 4.21 4.21 4.48 4.47 4.47 4.47 4.47 4.23 4.23 4.23 4.22 4.22 i 4.36 4.35 4.46 4.45 4.45 4.45 4.45 4.84 4.84 4.83 4.84 4.84 3.30 3.32 3.31 3 29 3.08 3.11 3.11 3.10 3.19 3.21 3.20 3 17 3.31 3.32 3.32 3.30 3.60 3.62 3.61 3.57 4.21 4.24 4.27 4.26 4.48 4.48 4.49 4.50 4.23 4.24 4.27 4.29 4.37 4.38 4.39 4.39 4.46 4.46 4.47 4.47 3.24 3.22 3.22 3.22 3.22 3.27 3.27 3.28 3 30 3.29 3.08 3.08 3.08 3.11 3.09 3.15 3.15 3.15 3.18 3.17 3.28 3.28 3.30 3.32 3.32 3.57 3.57 3.59 3.59 3.58 4.26 4.26 4.26 4.26 4.27 T T 4.40 4.50 4.29 4.03 4.05 4.05 4.04 3.22 3.26 3.30 3.30 3.30 3.31 3.32 3.33 3.12 3.12 3.13 3.15 3.18 3.20 3.21 3.22 3.32 3.32 3.34 3.34 3.58 3.58 3.58 3.59 4.30 4.30 4.31 4.31 4.51 4.51 4.52 4.52 4.30 4.31 4.32 4.32 4 04 4.06 4 07 4.07 3.30 3.28 3.31 3.35 3.33 3.31 3.31 3.34 3.15 3.14 3.14 3.16 3.22 3.21 3.21 3.24 3.34 3.32 3.32 3.34 3.59 3.58 3.58 3.60 4.30 4.31 4.31 4.31 4.52 4.53 4.52 4.53 4.32 4.31 4.31 4.32 T i 1 t 1 1 T T 70 70 68 68 38 37 37 37 T 4^9 4.40 4.63 4.62 4 61 4.61 4.63 4.85 4.84 4.84 4.84 4.41 4.41 4.43 4.44 4.62 4 62 4.62 4 62 4.40 4 41 4.42 4 42 1 4.47 4.48 4.48 4.48 4.48 4.84 4.83 4.83 4.83 4.83 4.45 4.45 4.44 4.44 4.45 4.63 4.64 4.63 4.63 4.63 4.42 4.42 4.43 4.42 4.42 4.40 4.41 4.42 4.43 4.49 4.49 4.50 4.51 4.84 4.84 4.84 4.84 4.45 4.46 4.64 4.64 4.65 4.65 4.44 4.45 4.45 4.45 4.43 4.43 4.43 4.44 4.51 4.51 4.51 4.52 4.83 4.84 4.84 4.83 4.65 4.67 4.67 4.66 4.44 4.44 4.45 T 1 T 1 4.46 4.47 4.40 4.40 AAA Nov. 2 9 16 23 30 4.09 4.12 4.10 4.10 4.10 3.35 3.37 3.42 3.42 3.42 3.34 3.35 3.37 3.37 3.36 3.16 3.16 3.18 3.18 3.17 3.24 3.25 3.27 3.27 3.26 3.35 3.36 3.39 3.40 3.39 3.60 3.61 3.62 3.62 3.62 4.30 4.30 4.32 4.31 4.31 4.53 4.53 4.54 4.54 4.54 4.32 4.33 4.33 4.33 4.33 4.43 4.44 4.44 4.44 4.44 4.52 4.53 4.54 4.54 4.54 4.83 4.83 4.83 4.85 4.84 4.47 4.48 4.47 4.48 4.48 4.66 4.67 4.68 4.68 4.67 4.45 4.45 4.45 4.46 4.46 Dec. 7 14 21 28 4.12 4.12 4.15 4.16 3 42 3.34 3.32 3.32 3.34 3.34 3.32 3.31 3 14 3.12 3.11 3.11 3.25 3.25 3.22 3.22 3.38 3.37 3.35 3.32 3.61 3.61 3.62 3.60 4.33 4.33 4.35 4.36 4.54 4.54 4.55 4.57 4.33 4.34 4.36 4.37 4.44 4.45 4.46 4.49 4.53 4.53 4.55 4.57 4.84 4.85 4.85 4.85 4.48 4.47 4.48 4.50 4.67 4.67 4.69 4.70 4.47 4.49 4.50 4.51 -4 12. BOND PRICES, BY TYPE OF SECURITY, 1941-63 [Price per $100 bond] Period U.S. Govt. (longterm) Standard and Poor's State and local govt. Corporate 1941 1942 1943 1944 109.5 100.7 100.5 100.2 130.9 126.2 131.8 135.7 117.7 117.4 118.3 118.7 1945 1946 1947 1948 1949 102.0 104.8 103.8 100.8 102.7 139.6 140.1 132.8 125.3 128.9 121.6 123.4 122.1 118.3 121.0 1950 1951 1952 1953 1954 102.5 98.4 97.3 99.1 107.0 133.4 133.0 129.3 119.7 125.8 121.9 117.7 115.8 112.1 117.2 1955 1956 1957 1958 1959 102.4 98.9 93.2 94.0 85.5 123.1 116.3 105.8 106.4 100.7 114.4 109.1 101.3 102.9 95.0 1960 1961 1962 1963 86.2 87.6 86.9 86.3 103.9 107.8 112.1 111.3 94.7 95.2 96.2 96.8 1941—Jan... Feb... Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 108.5 107.1 108.5 109.2 109.7 110.1 110.5 110.1 109.9 110.5 103.2 100.5 129.8 127.8 127.6 128.9 130.2 131.4 132.3 132.8 133.0 134.5 134.9 128.1 117.2 116.9 116.8 116.3 116.9 117.3 117.9 118.3 118.5 118.9 119.1 117.7 1942—Jan... Feb... Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 100.4 100.4 100.8 101.1 100.9 101.2 100.8 100.6 100.8 100.8 100.6 100.2 126.7 122.6 122.2 124.5 124.5 125.7 126.7 127.6 128.1 128.6 129.0 127.8 117.4 117.3 117.0 117.4 117.3 117.2 117.5 117.5 117.5 117.5 117.5 117.3 1943_Jan... Feb... Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 100.7 100.6 100.4 100.4 100.7 100.8 100.8 100.5 100.4 100.4 100.2 100.2 127.7 128.6 128.7 129.1 130.4 131.5 133.4 134.6 134.4 135.2 134.9 132.8 117.6 118.0 117.8 117.9 118.1 118.4 118.8 118.9 118.8 118.7 118.3 117.7 1944—Jan... Feb... Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 100.2 100.1 100.3 100.3 100.2 100.2 100.2 100.4 100.4 100.3 100.3 100.3 134.4 135.8 136.0 135.8 135.6 135.5 136.1 136.5 136.2 135.5 135.2 135.5 118.2 118.2 118.3 118.6 118.8 118.6 118.6 118.7 119.0 119.0 119.0 119.4 Month U.S. Govt. (longterm) Standard and Poor's State and local govt. Month Corporate 1945_j a n.. Feb. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 101.0 101.8 101.6 101.7 101.7 102.4 102.5 102.2 102.0 102.4 102.6 102.7 136.6 138.7 140.7 141.6 141.3 141.5 141.6 138.8 137.0 137.7 139.0 140.1 120.8 121.5 122.0 122.0 121.9 121.6 121.7 121.5 121.3 121.4 121.6 121.8 1951—Jan.. Feb. Mar. 1946—Jan.. Feb. Mar. Apr.. May June. July. Aug., Sept. Oct.. Nov. Dec. 104.6 106.0 106.5 106.6 104.8 105.3 104.9 104.1 103.2 103.6 103.7 103.9 141.6 143.4 143.4 144.1 142.1 142.0 140.9 140.0 137.8 136.0 136.8 133.4 1947_jan.. Feb.. Mar. Apr.. May. June. July. Aug.. Sept. Oct.. Nov., Dec. 104.3 104.4 104.6 104.6 104.5 104.1 103.8 103.9 104.0 103.4 102.1 101.6 1948—Jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. U.S. Govt. (longterm) Standard and Poor's State and local govt. May! June July. Aug. Sept. Oct.. Nov. Dec. 101.6 101.4 100.3 98.9 97.9 97.6 97.6 98.9 99.1 98.2 97.5 96.8 140.5 140.8 135.5 131.9 131.1 128.6 129.4 132.1 132.0 131.3 131.6 130.9 123.2 124.2 124.6 124.6 123.7 124.1 123.8 123.4 122.6 122.1 122.1 121.8 1952—Jan.. Feb.. Mar. Apr.. May. June. July. Aug., Sept. Oct.. Nov. Dec. 96.3 96.8 96.9 98.0 98.9 98.3 98.4 97.1 96.9 96.4 97.0 96.4 130.8 132.1 131.4 132.7 131.9 130.9 130.4 128.6 126.6 125.0 125.4 125.3 134.4 133.1 132.5 133.2 133.9 134.4 134.7 134.3 134.4 132.5 129.4 126.2 122.8 122.9 122.9 123.3 123.4 123.1 123.1 123.2 122.5 120.6 119.3 117.8 1953—Jan.. Feb.. Mar. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. 95.7 95.3 94.3 100.4 98.2 98.1 99.4 99.3 99.1 102.0 102.1 103.2 124.0 122.8 121.6 121.5 119.4 115.1 115.1 116.9 116.9 119.7 121.4 122.3 100.7 100.7 100.8 100.8 101.2 101.2 100.8 100.7 100.7 100.7 100.8 100.9 124.5 122.6 123.1 125.7 127.1 127.8 126.6 124 A 124.0 124.5 125.0 127.8 118.1 118.0 118.3 118.9 119.1 119.3 118.5 117.6 117.7 117.6 117.6 118.5 1954—Jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. 104.8 105.9 107.3 108.2 107.2 107.0 108.3 108.2 107.5 107.2 106.7 106.4 123.6 125.4 125.6 123.9 123.6 123.9 126.9 128.4 127.2 126.9 127.4 126.6 1949—Jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. 101.2 101.5 101.7 101.6 101.6 101.7 103.3 103.6 103.9 103.9 104.2 104.4 129.9 128.6 128.8 129.1 129.1 127.5 127.9 129.1 128.6 128.8 129.6 130.3 119.8 120.0 120.1 120.2 120.3 120.2 120.9 121.6 122.1 121.9 122.2 122.6 1955—Jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept. Oct.. Nov.. Dec. 104.9 103.5 103.4 102.7 102.9 102.7 101.4 100.8 101.2 102.0 101.7 101.4 125.4 124.9 124.4 124.9 125.1 123.9 121.4 120.5 121.3 122.5 122.7 119.8 1950—Jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. 104.2 103.6 103.2 102.9 102.7 102.4 102.2 102.3 101.9 101.6 101.7 101.5 131.4 131.7 131.5 131.3 131.5 131.1 131.1 134.8 135.2 136.4 137.0 137.4 122.7 122.7 122.7 122.5 122.1 122.0 121.5 122.1 121.7 121.2 121.0 121.1 1956—Jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. 101.8 102.3 101.1 99.0 100.4 101.1 100.0 97.5 96.9 97.1 95.6 94.2 121.0 122.2 120.3 116.9 117.3 119.2 118.6 116.0 113.8 112.8 109.0 108.1 98 12. BOND PRICES, BY TYPE OF SECURITY, 1941-63 — Continued [Price per $100 bond] Standard and Poor's Standard and Poor's Month U.S. Govt. (longterm) U.S. Govt. (longterm) Month State and local govt. Corporate 9.51 96.8 96.2 95.4 94.2 91.8 91.5 91.1 90.7 89.8 91.9 95.6 108.6 110.9 110.0 109.8 106.9 103.5 103.5 101.2 101.3 102.9 103.4 107.5 102.8 104.2 104.4 104.3 103.2 101.0 100.0 98.3 98.0 98.2 98.3 102.7 M*ay! June July. Aug. Sept. Oct.. Nov. Dec. 96.5 96.2 96.3 98.2 97.9 97.2 94.8 91.5 89.5 89.4 90.1 88.9 110.0 109.1 107.9 110.0 111.4 110.8 108.0 103.7 100.6 100.9 102.3 102.3 105.9 105.7 105.0 105.3 105.5 105.5 104.2 102.0 98.9 98.6 98.8 98.7 1959—Jan.. Feb.. Mar. Apr., 87.5 87.4 87.4 86.2 101.8 102.2 103.4 102.2 98.1 98.0 98.2 97.0 1957_Jan.. Feb.. Mar. M*ay June July. Aug. Sept. Oct.. Nov. Dec. 1958—Jan.. Feb.. Mar. Standard and Poor's Month State and local govt. Corporate 1959—May June July. Aug. Sept. Oct.. Nov. Dec. 85.3 85.2 85.0 85.1 83.2 85.0 84.8 83.0 100.4 99.4 99.4 100.6 98.3 100.2 100.9 99.3 81.8 83.6 85.3 84.2 84.4 86.5 88.1 88.9 88.6 87.5 87.2 87.8 98.3 100.4 101.9 102.3 102.2 103.1 103.9 106.7 106.7 105.9 107.7 108.0 87.7 88.7 89.1 88.8 89.7 87.8 87.6 86.3 108.1 109.7 108.9 108.1 109.0 106.8 106.7 106.5 Corporate 106.6 107.7 108.1 107.3 93.9 94.6 94.9 94.5 85.3 85.2 86.2 87.7 87.9 87.6 86.1 86.6 87.0 87.7 88.0 88.0 109.9 110.5 111.9 113.7 113.5 111.2 110.2 110.1 112.1 114.4 114.5 113.0 94.9 94.8 95.3 96.0 96.6 96.3 95.9 95.7 96.3 97.3 97.4 97.3 1963—Jan.. Feb.. Mar. Apr.. May. June. July. Aug., Sept. Oct.. Nov., Dec. 95.6 96.3 97.0 96.4 96.0 95.0 94.5 93.9 86.1 86.6 86.5 85.6 1962—Jan.. Feb.. Mar. Apr., May. June. July. Aug. Sept. Oct.. Nov. Dec. 92.0 92.8 93.9 94.2 94.1 94.2 94.8 96.4 96.8 96.0 95.5 95.1 1961—Jan.. Feb.. Mar. Apr.. May. June. July. Aug.. State and local govt. 1961—Sept. Oct.. Nov. Dec. 87.8 87.3 87.2 86.6 86.7 86.4 86.2 86.4 85.8 85.5 85.0 84.6 113.0 112.1 113.3 113.1 112.6 110.7 110.3 111.4 110.7 109.9 108.5 109.5 97.6 97.8 97.8 97.4 97.1 97.1 96.7 96.5 95.9 95.9 95.9 95.4 95.0 94.0 93.8 94.3 93.0 92.8 92.9 92.4 I960—Jan.. Feb., Mar. Apr.. May. June. July. Aug. Sept. Oct.* Nov. Dec. U.S. Govt. (longterm) 13. BASIC YIELDS OF CORPORATE BONDS, BY TERM TO MATURITY, 1941-63 [Per cent per annum] Years to maturity Year .... 1945 1946 1947 1948 1949 5 10 15 20 25 30 0.41 .81 1.17 i 1.08 1.21 1.50 1.71 1.58 1.88 2.16 2.16 2.20 2.28 2.47 2.45 2.54 2.50 2.61 2.61 2.60 2.61 2.64 2.65 2.60 2.65 2.65 2.65 2.60 1.02 1.86 1.05 1.60 1.60 1.53 1.32 1.65 2.03 1.92 2.14 i 1.88 1 2.08 2.53 2.32 2.45 2.26 2.30 2.66 2.54 2.55 2.35 2.40 2.73 2.62 2.55 2.40 2.46 2.77 2.68 2.55 2.43 2.50 2.80 2.74 i 1.42 i 2.05 12.73 12.62 2.40 1941 1942 1943 1944 i 1.90 i 2.22 12.73 12.75 2.52 2.30 2.39 2.73 2.88 2.66 2.40 2.51 2.81 2.97 2.78 2.48 2.59 2.88 3.05 2.88 2.54 2.63 2.94 3.11 2.95 2.58 2.67 3.00 3.15 3.00 2.60 2.70 i 3.50 13.21 3.67 2.70 2.78 i 3.50 i 3.25 3.80 2.80 2.86 3.50 3.33 4.03 2.88 2.93 3.50 3.40 4.10 2.95 2.99 i 3.50 3.47 4.10 3.00 3.04 3.60 3.54 4.10 3.04 3.09 3.68 3.61 4.10 4.95 3.10 3.50 3.25 4.75 3.75 3.97 3.77 4.60 4.00 4.28 3.98 4.55 4.06 4.37 4.05 4.55 4.12 4.40 4.10 4.55 4.16 4.41 4.14 4.55 4.22 4.42 4.16 1 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1 .. I960 1961 1962 1963 i More than usually subject to error. 99 14. STOCK PRICE INDEXES: STANDARD AND POOR'S CORPORATION A. ANNUALLY AND MONTHLY, 1900-63 [1941-43 = 10] Common Total Industrial Railroad 1900 1901 1902 1903 1904 6.15 7.84 8.42 7.21 7.05 3.38 4.00 3.92 3.20 2.92 18.62 25.01 28.37 24.71 24.61 24.22 27.82 28.25 24.48 24.19 1905 1906 1907 1908 1909 X § 8.99 9.64 7.84 7.78 9.71 4.11 4.82 3.84 3.74 4.99 31.85 34.06 28.09 28.18 34.79 25.59 23.25 17.36 16.11 19.39 1911.. 1912. 1910., 1913., 1914., 9.35 9.24 9.53 8.51 8.08 5.02 4.82 5.18 4.56 4.50 32.90 32.43 32.83 29.48 27.39 19.08 20.00 20.92 18.92 18.14 111.2 111.4 111.7 106.7 107.9 1915., 1916., 1917., 1918., 1919. 8.31 9.47 8.50 7.54 8.78 5.22 6.62 6.15 5.57 7.13 26.38 28.35 24.89 22.40 22.94 18.65 20.26 18.24 14.70 14.79 108.0 113.1 109.1 104.4 110.9 1920., 1921., 1922., 1923., 1924., 7.98 6.86 8.41 8.57 9.05 6.50 5.07 6.35 6.54 6.83 20.86 20.15 23.71 23.45 25.02 13.36 14.18 17.39 18.11 19.34 103.2 103.0 114.0 114.5 115.2 1925., 1926., 1927., 1928., 1929. 11.15 12.59 15.34 19.95 26.02 8.69 10.04 12.53 16.92 21.35 29.21 32.72 38.17 40.40 46.15 23.28 24.11 27.63 36.86 59.33 118.6 121.0 127.1 136.7 136.7 1930. 1931. 1932. 1933. 1934. 21.03 13.66 6.93 8.96 9.84 16.42 10.51 5.37 7.61 9.00 39.82 23.72 8.75 12.75 14.05 53.24 37.18 20.65 19.72 15.79 141.5 139.4 114.7 122.1 132.5 1935. 1936. 1937. 1938. 1939. 10.60 15.47 15.41 11.49 12.06 10.13 14.69 14.97 11.39 11.77 11.78 17.71 16.86 9.15 9.82 15.15 22.47 19.07 14.17 16.34 151.4 161.9 157.6 161.4 167.5 11.02 9.82 8.67 10.69 9.72 8.78 9.41 9.39 8.81 15.05 10.93 7.74 169.2 171.9 162.4 1940. 1941. http://fraser.stlouisfed.org/ 1942. Federal Reserve Bank of St. Louis Common Common PrePublic ferred utility Year Total Industrial Railroad PrePublic ferred utility 1903—Jan.. . Feb... Mar.. Apr... May.. June. . July. . Aug.., Sept.. Oct.. . Nov.. Dec, 8.46 8.41 8.08 7.75 7.60 7.18 6.85 6.63 6.47 6.26 6.28 6.57 3.82 3.93 3.81 3.64 3.52 3.30 3.01 2.88 2.74 2.56 2.49 2.64 28.96 28.48 27.18 26.00 25.58 24.20 23.55 22.86 22.54 22.05 22.15 23.00 27.88 27.71 27.08 26.24 25.93 24.63 23.24 22.57 21.81 21.37 22.15 23.18 1904—Jan... Feb... Mar.. Apr.., May.. June., July. . Aug.. Sept.. Oct.. , Nov.. Dec. 6.68 6.50 6.48 6.64 6.50 6.51 6.78 7.01 7.32 7.75 8.17 8.25 2.72 2.65 2.63 2.68 2.59 2.60 2.73 2.83 3.00 3.27 3.64 3.71 23.36 22.64 22.64 23.20 22.61 22.70 23.79 24.56 25.68 27.14 28.31 28.74 1905—Jan.. . Feb.. Mar.. Apr.., May., June. July. . Aug.. Sept.. Oct.. Nov.. Dec. 8.43 8.80 9.05 8.94 8.50 8.60 8.87 9.20 9.23 9.36 9.31 9.54 3.77 3.96 4.10 4.12 3.86 3.85 4.01 4.18 4.13 4.26 4.35 4.71 1906—Jan.. . Feb... Mar.. Apr... May.. June., July. . Aug.. Sept.. Oct.. , Nov.. Dec. 9.87 9.80 9.56 9.43 9.18 9.30 9.06 9.73 10.03 9.97 9.93 9.84 4.99 4.95 4.73 4.73 4.56 4.56 4.41 4.82 5.01 5.04 5.03 4.98 Month Total Industrial Railroad PrePublic ferred utility 1912—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 9.12 9.04 9.30 9.59 9.56 9.58 9.59 9.81 9.86 9.84 9.73 9.38 4.70 4.60 4.84 5.16 5.17 5.28 5.30 5.44 5.54 5.57 5.44 5.13 32.06 31.78 32.40 33.18 32.91 32.79 32.79 33.60 33.60 33.40 33.18 32.26 20.24 20.45 21.02 21.12 21.04 21.02 21.18 21.29 21.18 21.04 20.95 20.47 110.6 110.5 111.6 112.3 112.4 112.6 112.2 112.8 112.9 112.7 110.7 109.6 23.47 22.88 22.93 23.39 23.45 23.28 23.66 24.40 24.92 25.80 26.24 25.91 1913—Jan.. Feb.. Mar. Apr., May. June, July. Aug. Sept. Oct.. Nov. Dec 9.30 8.97 8.80 8.79 8.55 8.12 8.23 8.45 8.53 8.26 8.05 8.04 5.07 4.81 4.70 '4.71 4.57 4.23 4.32 4.57 4.66 4.44 4.30 4.33 32.06 31.22 30.60 30.54 29.69 28.31 28.68 29,H 29.24 28.55 27.89 27.83 20.13 19.57 19.42 19.25 18.92 18.45 18.60 19.06 19.29 18.54 17.99 17.78 108.8 108.3 107.7 107.9 106.4 104.5 104.9 106.4 107.8 106.3 105.3 105.5 29.62 31.09 32.00 31.51 29.99 30.54 31.49 32.85 33.15 33.50 33.08 33.34 25.61 25.84 26.24 25.93 25.07 25.28 25.55 25.84 25.47 25.51 25.24 25.51 1914—Jan.. Feb. Mar. Apr., May, June July. Aug. Sept. Oct.. Nov. Dec. 8.37 8.48 8.32 8.12 8.17 8.13 7.68 4.59 4.73 4.70 4.54 4.57 4.55 4.27 28.68 28.90 28.12 27.44 27.64 27.46 26.06 18.37 18.60 18.60 18.29 18.39 18.29 17.38 107.5 108.9 108.6 108.1 108.6 108.5 107.5 7.35 4.08 24.83 17.22 105.7 34.35 34.22 33.60 33.11 32.26 32.89 32.26 34.71 35.75 35.40 35.26 34.94 25.72 25.22 24.21 23.51 23.28 23.14 22.25 22.63 22.40 22.36 22.19 22.11 1915—Jan.. Feb. Mar. Apr. May June July. Aug. Sept. Oct. Nov. Dec. 7.48 7.38 7.57 8.14 7.95 8.04 8.01 8.35 8.66 9.14 9.46 9.48 4.14 4.07 4.29 4.85 4.76 4.97 5.13 5.49 5.82 6.24 6.37 6.47 25.19 24.76 25.21 26.55 25.84 25.64 25.05 25.80 26.49 27.93 29.14 28.94 17.51 17.68 17.93 18.52 18.24 18.48 18.27 18.60 18.98 19.42 20.03 20.11 106.5 105.2 104.0 107.1 106.9 107.4 107.2 108.2 109.6 110.1 111.7 112.2 Month N.Y.S.E. closed 1943 1944 11.50 12.47 11.49 12.34 11.81 13.47 11.34 12.81 172 7 175.8 1945., 1946., 1947., 1948., 1949. 15.16 17.08 15.17 15.53 15.23 14.72 16.48 14.85 15.34 15.00 18.21 19.09 14.02 15.27 12.83 16.84 20.76 18.01 16.77 17.87 189.1 198.5 184.7 168.6 176.4 1950. 1951. 1952., 1953. 1954. 18.40 22.34 24.50 24.73 29.69 18.33 22.68 24.78 24.84 30.25 15.53 19.91 22.49 22.60 23.96 19.96 20.59 22.86 24.03 27.57 181.7 170.4 169.7 164.0 174.5 1955. 1956. 1957. 1958. 1959. 40.49 46.62 44.38 46.24 57.38 42.40 49.80 47.63 49.36 61.45 32.94 33.65 28.11 27.05 35.09 31.37 32.25 32.19 37.22 44.15 174.8 165.3 151.4 157.4 149.5 1960. 1961. 1962. 1963. 55.85 66.27 62.38 69.87 59.43 69.99 65.54 73.39 30.31 32.83 30.56 37.58 46.86 60.20 59.16 64.99 147.4 150.2 155.6 163.0 1900—Jan... Feb... Mar.. Apr... May . June.. July.. Aug.. Sept.. Oct... Nov.. Dec... 6.10 6.21 6.26 6.34 6.04 5.86 5.86 5.94 5.80 6.01 6.48 6.87 3.51 3.59 3.51 3.50 3.23 3.07 3.13 3.21 3.13 3.26 3.61 3.75 18.01 18.40 18.85 19.19 18.44 17.98 17.88 18.04 17.75 18.34 19.58 21.01 1901—Jan... Feb... Mar.. Apr... May.. June.. July. . Aug.. Sept.. Oct... Nov.. Dec... 7.07 7.25 7.51 8.14 7.73 8.50 7.93 8.04 8.00 7.91 8.08 7.95 3.75 3.81 3.95 4.27 3.92 4.45 4.17 4.14 4.05 3.89 3.88 3.75 1902—Jan... Feb... Mar.. Apr... May.. June.. July.. Aug.. Sept.. Oct... Nov.. Dec... 8.12 8.19 8.20 8.48 8.46 8.41 8.60 8.83 8.85 8.57 8.24 8.05 3.91 3.96 3.96 4.07 4.01 3.91 3.93 4.02 4.04 3.92 3.72 3.58 1907—Jan.. . Feb... Mar.., Apr... May.. June.. July.. Aug... Sept.. Oct.. . Nov.. Dec... 9.56 9.26 8.35 8.39 8.10 7.84 8.14 7.53 7.45 6.64 6.25 6.57 4.89 4.78 4.30 4.23 4.06 3.94 4.12 .70 3.50 2.95 2.75 2.89 33.76 32.53 29.26 29.46 28.51 27.76 28.80 27.18 27.18 24.80 23.36 24.44 21.48 21.23 19.48 19.71 19.27 17.99 18.41 15.94 15.62 13.31 12.53 13.35 1916—Jan Feb Mar Apr May.... June.... July Aug Sept Oct Nov Dec 9.33 9.20 9.17 9.07 9.27 9.36 9.23 9.30 9.68 9.98 10.21 9.80 6.40 6.36 6.35 6.24 6.35 6.35 6.21 6.37 6.90 7.17 7.61 7.07 28.45 27.80 27.64 27.44 28.19 28.64 28.35 28.12 28.58 29.30 29.10 28.55 19.92 19.69 19.78 19.69 19.99 20.11 20.01 20.28 20.55 20.83 21.23 21.04 112.2 112.4 112.4 111.8 112.6 112.5 112.1 113.1 114.0 114.6 115.0 114.0 1908—Jan.. . Feb... Mar.. Apr... May.. June.. July. . Aug.., Sept.. Oct.. . Nov.. Dec... 6.85 6.60 6.87 7.24 7.63 7.64 7.92 8.26 8.17 8.27 8.83 9.03 3.08 2.98 3.23 3.43 3.61 3.61 3.85 4.16 3.99 4.07 4.43 4.43 25.35 24.40 25.11 26.30 27.80 27.86 28.61 29.59 29.39 29.71 31.58 32.43 13.96 13.44 14.02 15.16 15.79 15.77 16.33 17.07 17.24 17.26 18.27 18.96 1917—Jan Feb Mar Apr May.... June.... July Aug Sept Oct Nov Dec 9.57 9.03 9.31 9.17 8.86 9.04 8.79 8.53 8.12 7.68 7.04 6.80 6.80 6.37 6.71 6.56 6.55 6.75 6.52 6.28 5.91 5.54 4.99 4.85 27.99 26.52 26.85 26.55 25.48 25.80 25.48 25.11 24.04 23.00 21.27 20.55 20.83 19.86 20.43 20.41 19.57 19.57 18.52 17.53 17.05 16.06 14.91 14.11 114.0 113.1 112.7 112.0 110.2 110.5 110.4 110.0 108.2 105.7 102.5 100.1 25.26 24.94 24.40 24.69 24.02 23.45 23.24 23.35 22.57 23.33 25.32 26.10 1909—Jan.. . Feb.., Mar.. Apr.., May. June., July. . Aug.. Sept.. Oct.. Nov.. Dec. 9.06 8.80 8.92 9.32 9.63 9.80 9.94 10.18 10.19 10.23 10.18 10.30 4.41 4.19 4.19 4.49 4.80 4.98 5.09 5.32 5.41 5.56 5.69 5.74 32.85 32.20 32.69 33.93 34.68 35.16 35.75 36.41 36.25 36.15 35.46 35.95 18.37 17.66 18.18 18.92 19.57 19.69 19.59 19.86 20.01 19.95 20.30 20.53 1918—Jan Feb Mar Apr May June.... July Aug Sept Oct Nov Dec 7.21 7.43 7.28 7.21 7.44 7.45 7.51 7.58 7.54 7.86 8.06 7.90 5.25 5.46 5.31 5.32 5.53 5.54 5.62 5.66 5.57 5.79 5.91 5.84 21.46 21.79 21.77 21.22 21.94 22.03 22.05 22.58 22.69 23.41 24.27 23.57 14.89 15.22 14.76 14.51 14.38 14.34 14.05 13.94 14.30 15.31 15.64 15.01 102.3 104.2 104.3 103.9 104.0 103.5 104.0 104.5 104.3 105.3 105.9 107.0 21.99 22.70 23.49 25.58 24.60 26.95 24.83 25.45 25.61 25.74 26.79 26.39 25.97 26.10 27.21 28.87 27.76 29.20 28.49 28.72 28.32 27.52 27.88 27.84 1910—Jan.. Feb.. Mar. Apr., May, June, July. Aug. Sept. Oct.. Nov. Dec. 10.08 9.72 9.96 9.72 9.56 9.10 8.64 8.85 8.91 9.32 9.31 9.05 5.61 5.23 5.43 5.24 5.11 4.81 4.53 4.69 4.71 5.00 5.08 4.83 35.30 34.19 35.00 34.29 33.83 32.20 30.60 31.25 31.39 32.69 32.40 31.61 20.01 19.63 19.92 19.29 18.96 18.52 17.82 18.18 18.75 19.34 19.36 19.21 114.6 112.9 114.7 113.2 112.1 110.3 108.0 108.2 109.1 110.6 110.9 109.7 1919—Jan Feb Mar Apr May.... June July Aug Sept Oct Nov Dec 7.85 7.88 8.12 8.39 8.97 9.21 9.51 8.87 9.01 9.47 9.19 8.92 5.93 5.95 6.21 6.57 7.10 7.44 7.85 7.36 7.55 8.10 7.86 7.67 22.84 22.84 23.05 23.12 24.56 24.34 24.33 22.35 22.27 22.54 21.98 21.01 14.68 14.80 15.07 14.99 15.39 15.56 15.37 14.78 14.61 14.44 14.11 13.73 109.2 109.8 110.7 111.2 111.4 112.6 112.6 111.4 111.4 111.1 109.8 109.1 26.81 27.01 27.05 28.09 28.19 28.31 29.36 30.24 30.28 29.30 28.19 27.64 28.01 28.26 28.49 29.31 28.89 28.53 28.15 28.62 28.64 27.67 27.27 27.10 1911—Jan.. Feb., Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 9.27 9.43 9.32 9.28 9.48 9.67 9.63 9.17 8.67 8.72 9.07 9.11 4.91 5.06 4.96 4.92 5.05 5.13 5.10 4.80 4.39 4.30 4.53 4.68 32.43 32.85 32.49 32.46 33.01 33.80 33.76 32.24 30.64 31.09 32.26 32.14 19.82 20.11 20.13 19.95 20.45 20.68 20.41 19.63 19.25 19.57 20.09 19.92 111.1 113.1 112.7 112.1 113.4 113.5 112.6 110.8 109.2 108.8 109.8 110.1 1920—Jan Feb Mar Apr May.... June.... July Aug Sept Oct Nov Dec 8.83 8.10 8.67 8.60 8.06 7.92 7.91 7.60 7.87 7.88 7.48 6.81 7.56 6.75 7.31 7.33 6.78 6.64 6.56 6.06 6.23 6.05 5.65 5.08 20.88 19.97 21.33 20.58 19.72 19.58 20.01 20.67 21.86 23.02 22.30 20.43 13.75 13.46 13.73 13.54 13.08 12.97 12.89 13.00 13.29 13.84 13.73 13.04 109.1 106.7 106.9 106.0 102.5 102.0 101.4 100.6 100.9 101.9 101.1 99.3 14. STOCK PRICE INDEXES: STANDARD AND POOR'S CORPORATION — Continued A. ANNUALLY AND MONTHLY, 1900-63 — Continued [1941-43 = 10] Common Common Total Industrial Railroad PrePublic ferred utility 1921—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 7.11 7.06 6.88 6.91 7.12 6.55 6.53 6.45 6.61 6.70 7.06 7.31 5.35 5.31 5.17 5.23 5.40 4.83 4.72 4.57 4.72 4.86 5.23 5.50 20.97 20.77 19.94 19.32 20.18 19.19 19.73 20.06 20.44 20.07 20.48 20.61 13.39 13.48 13.75 14.26 14.34 13.98 13.98 14.07 14.23 14.42 14.93 15.28 102.6 104.1 103.6 103.1 102.7 101.4 101.7 100.5 101.4 102.4 105.2 107.2 1922—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 7.30 7.46 7.74 8.21 8.53 8.45 8.51 8.83 9.06 9.26 8.80 8.78 5.46 5.57 5.78 6.20 6.52 6.46 6.43 6.59 6.82 7.03 6.67 6.72 20.67 21.22 22.03 23.17 23.64 23.27 24.17 25.51 25.85 26.20 24.70 24.04 15.60 16.00 16.57 17.01 17.34 17.22 17.32 18.08 18.58 18.60 18.22 18.12 1923—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 8.90 9.28 9.43 9.10 8.67 8.34 8.06 8.10 8.15 8.03 8.27 8.55 6.87 7.22 7.40 7.08 6.64 6.25 6.02 6.07 6.11 5.99 6.24 6.60 24.01 24.98 24.93 24.25 23.71 23.57 22.72 22.51 22.62 22.42 22.83 22.79 1924—Jan Feb Mar 8.83 8.87 8.70 8.50 8.47 8.63 9.03 9.34 9.25 9.13 9.64 10.16 6.84 6.87 6.67 6.42 6.35 6.45 6.77 7.05 6.73 6.95 7.22 7.66 23.23 23.43 23.29 23.50 23.70 24.24 25.52 26.21 25.85 25.48 27.28 28.56 Month May'.'.'.'.'.'. June July Aug Sept Oct Nov http://fraser.stlouisfed.org/ Dec Federal Reserve Bank of St. Louis Common Total Industrial Railroad PrePublic ferred utility 1930—j an .. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept., Oct.. Nov., Pec. 21.71 23.07 23.94 25.46 23.94 21.52 21.06 20.79 20.78 17.92 16.62 15.51 17.13 18.06 18.73 19.93 18.60 16.68 16.41 16.33 16.21 13.84 12.97 12.17 42.81 44.96 44.98 44.69 42.62 40.11 40.12 38.98 39.07 35.58 33.31 30.58 52.25 57.56 60.80 66.53 63.28 56.00 53.45 51.90 52.70 45.66 40.83 37.92 138.4 138.9 141.2 141.3 141.4 141.6 141.5 142 A 143.9 144.5 142.9 140.2 109.8 110.9 112.1 111.9 113.2 113.6 114.4 115.4 116.4 117.6 117.1 116.1 1931—Jan.. Feb.. Mar. Apr.. May. June. July. Aug., Sept. Oct.. Nov. Dec. 15.98 17.20 17.53 15.86 14.33 13.87 14.33 13.90 11.83 10.25 10.39 8.44 12.34 13.27 13.45 12.18 10.97 10.56 10.95 10.72 9.15 7.91 8.09 6.54 32.73 34.11 31.70 28.74 25.43 24.60 24.65 21.72 18.10 16.46 15.06 11.33 40.03 43.90 47.31 42.61 39.11 38.44 39.84 39.12 33.32 28.57 29.33 24.63 18.14 18.64 18.66 18.37 18.06 17.85 17.64 17.87 18.08 17.82 17.99 18.16 116.4 117.0 116.3 114.2 114.2 113.7 113.8 114.0 113.6 113.4 113.8 113.4 1932—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 8.30 8.23 8.26 6.28 5.51 4.77 5.01 7.53 8.26 7.12 7.05 6.82 6.39 6.33 6.35 4.83 4.27 3.80 4.00 5.94 6.39 5.49 5.45 5.18 11.92 11.40 10.70 7.49 5.74 4.90 5.28 9.38 11.41 9.25 8.92 8.62 18.73 18.79 18.62 18.41 18.45 18.81 19.21 19.63 19.92 19.86 20.41 21.23 114.1 114.9 114.2 113.3 113.7 114.6 115.5 116.5 116.0 116.0 116.9 117.1 1933—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 7.09 6.25 6.23 6.89 8.87 10.39 11.23 10.67 10.58 9.55 9.78 9.97 5.35 4.74 4.93 5.75 7.41 8.61 9.40 9.15 9.37 8.49 8.92 9.16 9.36 8.84 8.87 9.05 12.39 14.59 17.26 16.54 15.88 13.22 13.18 13.77 Month Total Industrial Railroad PrePublic ferred utility 1939—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 12.50 12.40 12.39 10.83 11.23 11.43 11.71 11.54 12.77 12.90 12.67 12.37 12.30 12.12 12.09 10.56 10.91 11.11 11.37 11.15 12.56 12.60 12.35 12.06 10.25 9.93 10.18 8.40 8.78 8.91 9.13 8.84 10.65 11.44 10.95 10.37 16.05 16.81 16.77 14.97 15.79 16.06 16.55 16.92 16.18 16.64 16.76 16.52 170.1 176.0 169.4 168.3 169.1 170.7 172.8 172.0 156.1 156.9 165.3 169.0 141.0 143.0 144.1 145.0 145.0 143.9 144.1 144.7 141.1 130.3 129.0 122.0 1940_jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 12.30 12.22 12.15 12.27 10.58 9.67 9.99 10.20 10.63 10.73 10.98 10.53 11.95 11.87 11.84 11.94 10.28 9.34 9.55 9.79 10.26 10.39 10.73 10.34 10.20 10.12 10.08 10.23 8.65 8.03 8.61 8.79 9.43 9.61 9.86 9.29 16.97 16.85 16.34 16.57 14.56 13.70 14.88 14.74 14.68 14.42 13.88 12.97 172.2 171.0 169.6 170.5 166.5 159.9 166.1 167.0 168.6 170.8 171.6 F76.2 24.10 24.28 24.88 19.25 17.23 13.95 14.48 21.65 24.13 21.36 21.14 21.37 119.6 119.9 120.9 110.7 106.6 101.8 104.3 115.0 119.7 119.6 119.3 118.9 1941—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 10.55 9.89 9.95 9.64 9.43 9.76 10.26 10.21 10.24 9.83 9.37 8.76 10.30 9.64 9.73 9.43 9.27 9.66 10.19 10.14 10.21 9.81 9.41 8.86 9.74 9.28 9.40 9.50 9.40 9.38 9.82 9.92 9.61 9.36 9.09 8.16 13.25 12.40 12.19 11.48 10.72 10.82 11.06 10.91 10.74 10.16 9.14 8.28 177.9 172.9 171.5 170.8 168.9 168.9 173.1 174.3 173.4 172.1 170.5 168.7 22.21 18.91 16.91 16.64 20.82 24.96 25.24 21.81 19.20 17.72 16.34 15.83 121.8 120.6 115.3 114.5 117.8 123.3 126.6 127.3 128.1 126.3 121.9 121.1 1942—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 8.93 8.65 8.18 7.84 7.93 8.33 8.64 8.59 8.68 9.32 9.47 9.52 8.95 8.67 8.24 7.93 8.01 8.47 8.82 8.76 8.84 9.45 9.56 9.68 9.18 9.16 8.58 8.11 8.06 7.86 8.44 8.73 8.92 9.71 9.70 9.23 8.54 8.18 7.44 6.94 7.18 7.49 7.39 7.24 7.34 8.12 8.60 8.42 166.3 165.1 159.8 154.8 156.3 159.2 162.0 164.0 164.0 165.5 165.4 166.9 Month , , 1925—Jan.. Feb.. Mar. Apr., May. June, July. Aug. Sept. Oct.. Nov. Dec. 10.58 10.67 10.39 10.28 10.61 10.80 11.10 11.25 11.51 11.89 12.26 12.46 8.13 8.25 7.95 7.91 8.16 8.36 8.66 8.75 9.02 9.41 9.79 9.87 28.90 28.96 28.32 27.65 28.13 28.15 28.50 29.32 29.71 29.83 30.80 32.19 21.52 21.62 21.77 21.88 22.97 23.41 23.85 23.91 24.14 24.67 24.84 24.80 117.4 118.0 116.0 117.6 118.7 119.0 119.6 118.8 119.2 119.3 120.1 119.8 1934—Jan.. Feb.. Mar. Apr.. May. June, July. Aug. Sept. Oct.. Nov. Dec. 10.54 11.32 10.74 10.92 9.81 9.94 9.47 9.10 8.88 8.95 9.20 9.26 9.56 10.11 9.63 9.86 8.88 8.96 8.60 8.41 8.22 8.31 8.70 8.81 15.26 17.01 16.23 16.53 14.65 14.84 13.67 12.10 11.89 12.06 12.06 12.29 17.56 19.86 18.43 18.08 16.27 16.72 15.56 14.34 13.75 13.70 12.87 12.30 123.6 128.2 129.7 131.4 132.6 133.6 135.6 135.2 132.7 131.6 135.7 140.5 1943_jan.. Feb., Mar. Apr., May, June, July. Aug. Sept. Oct.. Nov. Dec. 10.09 10.69 11.07 11.44 11.89 12.10 12.35 11.74 11.99 11.88 11.33 11.48 10.22 10.81 11.13 11.44 11.87 12.14 12.29 11.66 11.91 11.78 11.25 11.42 9.88 10.35 11.48 12.35 12.88 12.53 12.89 12.01 12.22 12.29 11.43 11.44 9.22 9.66 10.35 10.95 11.35 11.52 12.40 12,03 12.38 12.31 11.76 11.80 168.0 170.8 171.5 171.5 172.1 173.8 175.9 176.4 175.9 175.1 172.6 169.1 1926—Jan.. Feb. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 12.65 12.67 11.81 11.48 11.56 12.11 12.62 13.12 13.32 13.02 13.19 13.49 10.04 10.10 9.38 9.06 9.12 9.59 10.06 10.52 10.67 10.46 10.58 10.84 32.15 31.67 31.10 30.76 31.07 32.18 32.74 33.73 34.63 33.63 34.09 34.83 25.32 25.24 22.69 22.24 22.37 23.38 24.26 24.74 25.02 24.22 24.74 25.04 120.0 120.6 120.1 120.6 121.4 121.3 121.2 121.9 120.5 120.2 121.1 123.6 1935—Jan.. Feb.. Mar. Apr., May June, July. Aug. Sept. Oct.. Nov. Dec, 9.26 8.98 8.41 9.04 9.75 10.12 10.65 11.37 11.61 11.92 13.04 13.04 8.88 8.72 8.19 8.67 9.40 9.64 10.14 10.71 11.01 11.39 12.43 12.38 11.94 11.08 9.78 10.32 10.78 11.33 11.75 12.40 12.65 11.94 13.23 14.18 11.90 10.86 10.36 12.41 13.21 14.65 15.60 17.88 17.56 17.89 19.85 19.64 142.8 144.5 145.6 149.2 153.5 153.8 153.9 154.4 153.5 152.6 154.6 157.9 1944—Jan.. Feb. Mar. Apr., May June, July. Aug. Sept. Oct.. Nov. Dec. 11.85 11.77 12.10 11.89 12.10 12.67 13.00 12.81 12.60 12.91 12.82 13.10 11.78 11.63 11.95 11.75 11.98 12.58 12.90 12.67 12.47 12.76 12.67 12.90 12.20 12.83 13.22 13.03 13.15 13.48 13.96 13.65 13.18 13.77 13.97 15.25 12.10 12.18 12.49 12.25 12.30 12.75 13.10 13.37 13.17 13.46 13.25 13.29 171.2 172.7 173.4 173.8 173.2 175.8 177.6 176.9 177.4 177.4 178.5 180.9 1927—Jan.. Feb. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 13.40 13.66 13.87 14.21 14.70 14.89 15.22 16.03 16.94 16.68 17.06 17.46 10.74 10.96 11.16 11.42 11.85 12.01 12.38 13.18 14.08 13.80 14.20 14.61 35.00 36.18 36.30 37.21 37.99 38.15 38.66 39.58 39.73 39.35 39.63 40.22 24.87 24.83 25.27 25.99 27.03 27.53 27.35 28.21 29.91 29.89 30.16 30.51 124.0 125.0 125.6 126.4 127.6 127.2 126.7 127.6 128.5 128.5 128.8 129.7 1936—Jan.. Feb.. Mar. Apr., May June July. Aug. Sept. Oct.. Nov. Dec. 13.76 14.55 14.86 14.88 14.09 14.69 15.56 15.87 16.05 16.89 17.36 17.06 12.96 13.71 14.12 14.20 13.44 13.93 14.66 14.96 15.17 16.04 16.69 16.41 15.38 17.13 16.79 16.55 15.62 16.43 17.88 18.64 19.17 20.36 19.87 18.74 21.31 21.98 21.73 21.37 20.22 21.79 23.59 23.76 23.45 23.84 23.29 23.29 159.2 160.8 162.6 162.7 161.4 161.7 162.4 163.1 162.1 161.4 160.9 164.5 1945_j a r i .. Feb., Mar. Apr., May, June July. Aug. Sept. Oct.. Nov. Dec. 13.49 13.94 13.93 14.28 14.82 15.09 14.78 14.83 15.84 16.50 17.04 17.33 13.23 13.63 13.63 13.94 14.44 14.58 14.23 14.39 15.43 16.03 16.41 16.73 16.11 16.50 16.52 17.18 17.90 19.16 18.51 17.46 18.38 19.31 20.53 20.95 13.91 14.78 14.75 15.31 16.03 16.85 17.17 16.83 17.58 18.65 20.11 20.05 183.3 185.5 187.7 196.9 191.2 190.9 189.6 188.1 186.7 188.0 192.2 195.3 1928—Jan., Feb. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 17.53 17.32 18.25 19.40 20.00 19.02 19.16 19.78 21.17 21.60 23.06 23.15 14.68 14.43 15.34 16.35 16.74 15.96 16.18 16.80 18.11 18.70 19.94 19.75 39.50 38.64 39.84 41.08 41.84 39.72 39.21 39.62 40.64 40.22 42.08 42.36 31.10 31.81 32.78 35.31 38.07 35.84 35.78 36.60 39.17 38.81 42.14 44.86 131.4 133.6 137.0 141.7 141.1 138.6 137.3 136.7 135.9 134.1 136.5 137.0 1937—Jan.. Feb. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 17.59 18.11 18.09 17.01 16.25 15.64 16.57 16.74 14.37 12.28 11.20 11.02 16.87 17.51 17.52 16.45 15.74 15.26 16.18 16.45 14.12 12.04 10.82 10.68 19.25 19.91 21.20 20.32 19.84 18.31 18.12 17.43 14.43 12.01 10.84 10.68 24.34 23.43 22.13 20.62 19.15 17.94 19.69 19.46 17.08 15.10 15.25 14.68 167.6 166.5 159.0 154.8 153.1 155.3 155.2 157.1 156.6 155.2 153.8 156.5 1946—Jan.. Feb. Mar. MPay June July. Aug. Sept. Oct.. Nov. Dec. 18.02 18.07 17.53 18.66 18.70 18.58 18.05 17.70 15.09 14.75 14.69 15.13 17.34 17.38 16.85 18.02 18.04 17.85 17.42 17.12 14.65 14.35 14.20 14.58 21.83 21.68 20.52 20.84 20.81 21.63 20.55 19.60 15.80 14.77 15.26 15.84 21.34 21.59 21.42 22.60 22.75 22.80 21.74 21.32 18.20 17.92 18.32 19.17 197.9 200.5 203.1 204.9 201.9 202.4 204.1 203.4 196.2 191.6 189.3 186.2 1929—Jan., Feb. Mar. Apr. May June July. Aug. Sept. Oct., Nov. Dec. 24.86 24.99 25.43 25.28 25.66 26.15 28.48 30.10 31.30 27.99 20.58 21.40 21.22 21.12 21.68 21.62 21.70 21.55 22.95 23.89 24.68 22.26 16.44 17.03 44.19 44.55 43.90 43.02 43.29 45.18 50.31 51.69 52.76 49.38 42.58 42.93 49.00 51.21 51.32 50.68 54.24 60.11 69.98 77.02 82.12 69.89 46.52 49.82 138.1 137.5 137.6 137.3 136.6 135.8 136.3 135.4 136.1 136.1 135.1 138.3 1938—Jan.. Feb. Mar. Apr. May June July. Aug. Sept. Oct., Nov. Dec. 11.31 11.04 10.31 9.89 9.98 10.21 12.24 12.31 11.75 13.06 13.07 12.69 11.10 10.89 10.22 9.81 9.78 10.07 12.12 12.29 11.81 12.98 12.96 12.63 10.29 9.87 8.47 7.52 7.55 7.44 9.70 9.62 8.64 10.27 10.37 10.05 14.30 13.46 12.68 12.44 13.50 13.48 15.24 14.45 13.49 15.86 16.02 15.13 157.2 158.2 156.0 154.3 157.2 158.8 160.9 163.6 165.5 166.9 169.7 168.9 1947_Jan.. Feb. Mar. Apr. May June July. Aug. Sept. Oct. Nov. Dec. 15.21 15.80 15.16 14.60 14.34 14.84 15.77 15.46 15.06 15.45 15.27 15.03 14.69 15.31 14.73 14.23 14.02 14.58 15.48 15.15 14.76 15.19 15.15 14.93 15.33 15.93 14.58 13.52 12.71 13.04 14.55 14.07 13.65 13.92 13.33 13.66 19.21 19.50 18.72 18.00 17.48 17.62 18.38 18.28 17.96 17.98 16.86 16.09 187.3 189.0 188.1 186.5 186.2 186.2 188.4 188.7 188.3 181.2 174.5 172.1 14. STOCK PRICE INDEXES: STANDARD AND POOR'S CORPORATION — Continued A. ANNUALLY AND MONTHLY, 1900-63 — Continued [1941-43 = 10] Common Common Total Industrial Railroad PrePublic ferred utility 14.83 14.10 14.30 15.40 16.15 16.82 16.42 15.94 15.76 16.19 15.29 15.19 14.60 13.88 14.07 15.19 15.92 16.65 16.21 15.74 15.53 16.02 15.16 15.11 14.26 13.62 13.91 15.30 16.43 16.67 16.56 15.94 15.94 16.05 14.52 14.09 16.53 15.82 16.02 16.65 17.42 17.85 17.55 17.04 17.02 17.16 16.29 15.93 169.5 167.5 170.1 169.9 171.1 173.4 170.8 166.9 166.5 163.8 166.2 168.7 Mar. Apr. •May. June. July. Aug. Sept. Oct.. Nov. Dec. 15.36 14.77 14.91 14.89 14.78 13.97 14.76 15.29 15.49 15.89 16.11 16.54 15.23 14.57 14.72 14.66 14.51 13.69 14.55 15.04 15.20 15.62 15.86 16.29 14.12 13.16 12.96 12.92 12.70 11.72 12.01 12.53 12.63 12.93 12.84 13.40 16.54 16.71 16.99 17.31 17.52 16.95 17.44 18.23 18.75 19.06 19.25 19.69 171.4 173.2 172.2 172.2 173.2 176.1 176.6 179.5 182.1 180.3 179.8 180.6 1950—Jan.. Feb. Mar. Apr. May, June July. Aug. Sept. Oct.. Nov. Dec. 16.88 17.21 17.35 17.84 18.44 18.74 17.38 18.43 19.08 19.87 19.83 19.75 16.56 16.90 17.03 17.58 18.27 18.68 17.31 18.47 19.18 20.06 20.05 19.92 14.31 14.34 14.42 14.54 14.60 14.24 14.74 16.06 16.70 17.06 16.96 18.33 20.20 20.55 20.92 21.00 21.23 20.94 18.90 18.95 19.18 19.46 19.27 18.87 182.8 182.4 183.8 183.5 183.1 182.0 178.5 181.9 181.7 180.5 180.7 179.9 1951—Jan.. Feb., Mar. Apr. May, June July. Aug. Sept. Oct., Nov. http://fraser.stlouisfed.org/ Dec. 21.21 22.00 21.63 21.92 21.93 21.55 21.93 22.89 23.48 23.36 22.71 23.41 21.38 22.22 21.84 22.24 22.29 21.88 22.31 23.35 23.98 23.80 23.09 23.83 20.38 21.36 19.99 19.92 19.66 18.85 18.71 19.56 20.43 20.57 19.33 20.16 20.01 20.34 20.50 20.16 20.08 20.05 20.39 20.80 21.03 21.10 21.08 21.48 180.9 180.9 174.9 170.4 168.9 167.9 166.7 169.4 168.5 167.0 165.4 163.7 Month H- g 1948—Jan.. Feb.. Mar. Apr., May. June, July. Aug. Sept. Oct.. Nov. Dec. 1949—j a n - , Feb., Federal Reserve Bank of St. Louis Common Total Industrial Railroad PrePublic ferred utility 1953—Oct.. Nov. Dec, 23.97 24.50 24.83 23.96 24.51 24.85 20.90 21.18 20.88 24.22 24.70 25.17 167.3 168.8 166.5 1954_jan.. Feb., Mar. Apr., May, June July. Aug. Sept. Oct.. Nov. Dec. 25.46 26.02 26.57 27.63 28.73 28.96 30.13 30.73 31.45 32.18 33.44 34.97 25.55 26.12 26.72 27.97 29.21 29.43 30.64 31.26 32.20 33.17 34.56 36.14 21.19 22.12 22.02 21.82 23.05 23.43 24.43 24.76 24.40 24.76 26.35 29.13 25.51 25.90 26.39 26.75 27.06 27.28 28.21 28.82 28.74 28.19 28.62 29.41 168.7 171.8 173.3 174.3 173.8 172.9 173.3 174.7 175.8 178.1 178.9 178.3 1955—Jan.. Feb. Mar. Apr. May June July. Aug. Sept. Oct., Nov. Dec. 35.60 36.79 36.50 37.76 37.60 39.78 42.69 42.43 44.34 42.11 44.95 45.37 36.79 38.06 37.65 39.04 38.88 41.45 44.94 44.56 46.88 44.52 47.78 48.25 29.74 30.89 31.66 33.46 33.48 34.45 34.08 33.22 34.11 31.93 33.83 34.43 29.89 30.71 30.72 31.08 30.87 31.26 31.98 32.55 32.54 31.07 31.83 31.91 175.8 175.0 174.6 176.0 175.6 175.7 176.7 174.4 172.7 173.5 174.7 172.9 1956—Jan.. Feb. Mar. Apr. May June July. Aug. Sept. Oct. Nov. Dec. 44.15 44.43 47.49 48.05 46.54 46.27 48.78 48.49 46.84 46.24 45.76 46.44 46.88 47.13 50.59 51.38 49.64 49.38 52.27 51.89 50.15 49.52 48.92 49.79 33.11 33.21 35.24 36.12 35.83 34.22 34.63 33.72 31.98 32.22 31.73 31.75 31.55 32.07 33.21 32.50 31.81 31.93 33.01 33.39 32.29 31.67 31.82 31.70 173.9 175.7 174.5 168.7 166.0 167.8 168.2 165.1 159.6 158.5 153.7 151.4 1957—Jan.. Feb. Mar. Apr., May June, July. Aug. 45.43 43.47 44.03 45.05 46.78 47.55 48.51 45.84 48.43 46.10 46.86 48.06 50.10 51.30 52.54 49.51 31.36 29.59 29.37 29.78 30.42 30.11 31.20 29.52 32.32 32.29 32.45 33.03 34.03 33.35 32.93 31.89 155.1 156.7 157.2 156.8 154.6 149.5 147.3 145.1 Month Total Industrial Railroad PrePublic ferred utility 1959—May. June. July. Aug., Sept. Oct.. Nov. Dec. 57.96 57.46 59.74 59.40 57.05 57.00 57.23 59.06 62.09 61.75 64.23 63.74 61.21 61.04 61.46 63.56 36.07 36.02 36.86 35.56 33.78 34.32 32.80 33.57 44.30 42.58 44.21 45.15 43.59 44.11 43.71 44.31 149.7 146.0 147.2 149.0 146.0 145.6 145.6 144.3 I960—Jan.. Feb.. Mar. Apr.. May. June. July. Aug., Sept. Oct.. Nov. Dec. 58.03 55.78 55.02 55.73 55.22 57.26 55.84 56.51 54.81 53.73 55.47 56.80 62.27 59.60 58.71 59.46 58.84 61.06 59.25 59.96 57.96 56.90 58.89 60.22 33.68 32.54 31.01 30.59 30.18 30.81 30.19 30.19 28.76 27.77 28.93 29.03 44.50 44.38 44.60 45.53 45.75 47.35 48.02 48.65 48.64 47.34 47.83 49.78 143.8 145.3 147.1 148.6 147.3 147.7 149.0 152.0 149.2 147.5 146.3 144.8 1961—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 59.72 62.17 64.12 65.83 66.50 65.62 65.38 67.79 67.26 68.00 71.08 71.74 63.20 65.71 67.83 69.64 70.34 69.48 69.09 71.69 70.89 71.42 74.72 75.81 31.43 32.17 32.93 32.35 33.08 32.41 31.78 32.76 33.02 34.53 34.30 33.21 52.73 55.64 57.06 59.09 59.59 58.43 59.36 61.19 62.19 64.15 67.19 65.77 148.0 149.8 150.2 150.1 151.0 150.2 149.4 149.3 149.3 151.7 152.7 151.0 1962—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 69.07 70.22 70.29 68.05 62.99 55.63 56.97 58.52 58.00 56.17 60.04 62.64 72.99 74.22 74.22 71.64 66.32 58.32 59.61 61.29 60.67 58.66 62.90 65.59 33.77 34.23 33.45 32.31 30.71 28.05 28.29 28.09 27.68 27.40 30.47 32.24 62.69 63.70 64.51 63.86 58.84 53.32 55.51 56.96 56.96 55.63 57.69 60.24 152.6 155.0 156.2 157.2 157.3 155.0 152.7 154.0 155.7 155.8 157.4 158.2 1963—Jan.. Feb.. Mar. 65.06 65.92 65.67 68.00 68.91 68.71 34.06 34.59 34.60 63.35 64.07 63.35 161.3 164.1 165.0 Month 1952—Jan.. Feb., Mar. Apr., May, June July. Aug. Sept. Oct., Nov. Dec. 24.19 23.75 23.81 23.74 23.73 24.38 25.08 25.18 24.78 24.26 25.03 26.04 24.61 24.05 24.04 23.96 23.94 24.66 25.49 25.53 25.06 24.48 25.24 26.29 20.93 20.78 21.68 22.05 22.14 23.08 23.30 23.36 22.71 22.30 22.96 24.59 22.22 22.39 22.56 22.39 22.38 22.51 22.60 23.06 23.15 22.93 23.79 24.32 164.2 165.9 168.2 172.2 173.4 173.3 171.1 169.9 170.2 168.3 169.8 170.3 1953—Jan.. Feb.. Mar. Apr. May June July. Aug. Sept. 26.18 25.86 25.99 24.71 24.84 23.95 24.29 24.39 23.27 26.45 26.07 26.18 24.84 25.01 24.12 24.41 24.44 23.26 24.67 24.14 24.49 22.89 23.18 22.56 23.12 22.59 20.64 24.41 24.50 24.68 23.86 23.69 22.65 23.24 23.89 23.39 168.4 166.3 165.7 161.7 160.0 156.8 160.1 163.1 162.8 1957—Sept. Oct.. Nov. Dec, 43.98 41.24 40.35 40.33 47.52 44.43 43.41 43.29 27.17 24.78 22.63 21.39 31.09 30.39 30.68 31.79 146.2 145.9 146.5 156.0 1958—Jan.. Feb., Mar. Apr., May, June July. Aug. Sept. Oct., Nov. Dec. 41.12 41.26 42.11 42.34 43.70 44.75 45.98 47.70 48.96 50.95 52.50 53.49 43.98 44.01 44.97 45.09 46.51 47.62 48.96 51.00 52.40 54.55 56.11 57.09 22.69 23.00 22.60 23.20 24.74 25.54 26.86 28.43 29.51 31.23 33.07 33.70 33.30 34.12 34.57 35.54 36.57 37.31 37.82 37.50 37.97 39.15 40.75 42.05 160.7 159.9 158.3 160.4 162.4 163.5 160.5 157.5 153.0 150.8 150.7 151.1 1959_jan.. Feb. Mar. Apr. 55.62 54.77 56.15 57.10 59.30 58.33 59.79 60.92 35.53 35.20 35.47 35.94 43.96 43.71 45.06 45.12 154.4 155.1 156.3 155.0 1963—Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec, 68.76 70.14 70.11 69.07 70.98 72.85 73.03 72.62 74.17 72.17 73.60 73.61 72.45 74.43 76.63 77.09 76.69 78.38 36.25 38.37 39.34 38.75 39.22 39.00 38.31 38.60 39.92 64.64 65.52 64.87 64.47 66.57 67.09 65.55 64.81 65.64 162.4 163.3 163.2 161.4 162.7 162.9 164.5 163.6 162.1 14. STOCK PRICE INDEXES: STANDARD AND POOR'S CORPORATION — Continued B. WEEKLY, 1934-63 [1941.43 = 10] Common Common Total Industrial Railroad PrePublic ferred utility 1934—j an . 6 13 20 27 9.92 10.02 10.75 9.19 9.12 9.11 9.66 9.95 13.79 14.19 15.85 16.27 15.71 16.50 18.39 18.68 121.3 122.6 123.9 124.3 Feb 3 10 17 24 11.36 11.49 11.43 11.25 10.24 10.20 10.20 10.06 16.96 17.21 17.22 16.99 19.31 20.67 20.16 19.49 125.9 126.8 127.7 128.9 Mar. 3 10 17 24 31 10.85 10.80 10.87 10.57 10.59 9.74 9.70 9.71 9.47 9.50 16.20 16.24 16.55 16.04 15.97 18.60 18.35 18.74 18.27 18 19 129.2 129.4 129 A 130.1 129.9 Apr. 7 p H; 21 28 10.87 10.97 11.01 10.89 10.87 10.97 11.01 10.89 16.43 16.71 16.70 16.43 18.10 18.03 18.24 18.07 May 5 12 19 26 10.32 9.73 9.65 9.69 10.32 9.73 9.65 9.69 15.51 14.41 14.43 14.47 June 2 9 16 23 30 9.59 9.84 10.19 10.04 9.87 9.59 9.84 10.19 10.04 9.87 July 7 14 21 28 9.79 9.93 9.65 8.81 Aug 4 11 18 25 Week ending— Common Total. Industrial Railroad PrePublic ferred utility 1936—Jan. 4 11 18.. 25 13.43 13.65 13 73 13.74 12.75 12.88 12.92 12.94 14.50 15.09 15.39 15.43 20.30 21.04 21 38 21.37 159.1 159.1 158 7 159.5 Feb 1. 8 15 22 29 14.14 14.38 14.64 14.73 14.55 13.28 13.53 13.74 13.92 13.74 16.17 16.51 16.98 17.74 17.50 22.05 22 14 22.67 21.65 21.49 159.5 160 6 160.2 160.9 161.3 Mar 7. 14 21 28 14 98 14.57 14.90 14 97 14 18 13.85 14.19 14 26 17.52 16.62 16.58 16 60 22 10 21.29 21.72 21 89 130.9 130.9 131.4 132.3 Apr. 4 11 . 18 25 15.15 15 44 15.18 14.57 14.46 14 71 14.46 13.91 16.80 14 43 17.10 16.03 17.01 15 96 16.17 16.18 131.8 131 8 133.1 133.1 14.31 14.66 15.15 15.02 14.80 16.04 16.31 16.98 17.07 16.82 133.1 133.6 133.1 133.4 134.4 May 2 9 16 23 30 13.81 13 98 14 09 14.05 14.36 13.20 13 37 13.49 13.38 13.64 June 6 13 20 27 14.26 14.57 14.86 15.03 8.83 9.00 8.79 8.06 14.46 14.63 13.94 12.34 16.59 16.44 15.67 14.24 134.6 135.7 135.9 136.2 July 4 11.. 18 25 8.82 8.87 9.08 9.33 8.11 8.20 8.43 8.63 11.98 11.65 11.85 12.55 14.22 14.15 14.14 14.55 135.7 136.2 135.7 133.6 AUK Sent 1 8..:::.::: 15 22 29 9.24 9.02 8.65 8.73 9.08 8.54 8.35 8.03 8.12 8.39 12.47 12.15 11.50 12.47 12.25 14.50 13.98 13.34 13.33 14.29 Oct 6 13 20 27 8.89 9.02 9.06 8 95 8.21 8.36 8.42 8 ^1 11.99 12.13 12.21 12 06 13.90 13.88 13.76 13.52 . . . Total Industrial Railroad PrePublic ferred utility 10 51 11 13 11 82 11.53 10.85 10 23 10 88 11 59 11.35 10.68 9 92 10 18 10 93 10.46 9.71 13 83 14.50 15 02 14.30 13.54 156 6 157.3 157 3 157.0 157.3 Feb 5 12 19 26 10 66 10 87 11.02 11.54 10 49 10 73 10.88 11.40 9 48 9 69 9.90 10.37 13 26 13.27 13.37 13.92 158 4 158.4 158.0 158.0 162 4 162 1 162.8 162 8 Mar 5 12 19 26 13 63 13 19 12 95 12 16 11 14 10 65 10 52 9 73 10 14 9 20 8 56 7 45 13 63 13 19 12.95 12 16 157 156 156 155 21.81 22 29 21.84 20.86 162.1 162 8 163.2 162.8 15.17 15 42 15.58 15.59 16.08 19.72 19 79 19 87 20.40 21.13 162.4 162 1 160 9 161.3 161.3 Apr 2 9 16 23 30 8.88 9 51 10 18 10.26 9.92 8.79 9 40 10 14 10 21 9.80 7 02 7 53 7 72 7 56 7.47 11.31 12 14 12 45 12.70 12.74 154 5 153 5 153 9 154.5 155.2 May 7 14 21 28 10 04 10 42 10 50 9.52 9 89 10 20 9 83 9.33 7 58 8 02 7 57 7.14 13 19 14 24 13 73 12.97 155 6 157 3 158 4 157.3 13.54 13.81 14.06 14.26 16.07 16.27 16.57 16.74 20.91 21.64 22.18 22.24 161.3 161.7 161.7 162.1 June 4 11 18 25 9.49 9.78 9 65 10.83 9 30 9.63 9 51 10.70 6 99 7.02 6 81 7 98 13 01 13.18 13 00 13 92 160 6 157.3 157 7 158 4 14.91 15.09 15.63 15.88 14.13 14.24 14.70 14.95 16.63 16.98 18.18 18.47 22.11 22.90 23.80 24.11 162.1 162.8 162.8 161.7 18.62 18.71 18.91 18.37 18.54 24.26 24.11 24.06 23.44 23.36 162.4 162.8 163.2 163.6 162.8 11.52 11.85 11 82 12.45 12 41 8.56 9.44 9 31 10.18 9 94 14.72 15.37 15 03 15.46 15 06 159.8 160.6 160 2 161.3 161 3 6. 134.6 133.6 133.1 132.1 131.8 15.05 15.02 15.12 14.80 14.89 11.64 12.01 11 95 12.57 12 48 15 22. 29 16.10 15.96 16.05 15.69 15.77 July 2 9 16 23 30. 20 27 12.47 12.31 12.14 12 47 12.43 12 28 12.12 12 47 9.78 9 70 9.40 9 76 14.80 14 51 14.27 14 48 162.4 162 4 163.6 164 3 Sept. 5 12 19 26 16.01 16.16 15.95 16.10 15.09 15.24 15.07 15.26 19.02 19.30 19.10 19.28 23.85 23.78 23.23 23.10 161.7 162.1 162.4 162.1 Sept. 3 10 17 24 12.08 12.16 11 50 11.64 12 10 12.21 11 57 11.69 9 24 9.20 8 38 8.45 13 97 13.91 13 12 13.39 165 5 166.7 165 1 165.5 130.6 130.9 131.8 131 4 Oct 3 10 17 24 31 16.18 16.77 16.97 17 11 17.03 15.33 15.91 16.12 16 27 16.18 19.28 20.22 20.82 20 59 20.36 23.32 23.81 23.74 23 99 24.04 162.1 162.1 161.3 161 3 160.9 Oct. 1 8 15 22 29 11.68 12.76 13.08 13 20 13.28 11.73 12.76 13.00 13 09 13.13 8.46 9 91 10.44 10 34 10.58 13.50 14.76 15.81 16 33 16.67 164.7 165 5 165.9 167 5 168.7 1 Week ending— 1938 Jan 1 8 15 22. 29 AUK . IS::::::::: 3 3 3 6 1934—Nov. 3 10 17 24 11.74 12.00 12 11 11.96 13.30 13.57 12 56 12.14 133.1 134.9 135 4 135.7 9.51 9.48 9 18 9.08 9.22 9.03 8 98 8 70 8 81 8.85 12.43 12 62 12 27 12 11 12.11 13.15 12.87 12 43 12.01 11.69 136.7 138 9 140 6 141 4 140.9 1935 Jan 5 12 19 26 9.52 9.39 9.13 9 21 9.16 8.99 8.74 8 84 12.34 12.36 11.78 11 78 12.00 12.02 11.85 11 87 141.4 142 0 142.0 144 1 Feb 2 9 16 23 9 05 8.94 9.03 9.09 8 69 8.64 8.76 8 88 11 35 11.09 11.12 11.30 11 72 11.20 10.93 10 41 Mar 2 9 16 23 30 . 8.78 8.53 8.29 8.34 8.43 8.57 8.36 8.03 8.10 8.13 10.62 10.05 9.51 9.70 9.54 Apr 6 13 20 27 8.61 8.91 9.15 9.39 8.27 8.56 8.80 8.98 May 4 11 18 25 -4 8.22 8 60 8 72 8.76 Dec 1 8 15 22 29 o 8.83 9 19 9 20 9.19 9.35 9.61 9.89 9.99 8 15 22 29 17.45 17.42 17.38 17.17 16.75 16.80 16 73 16.49 20.46 20.14 19 74 19.28 23.59 22.86 23.30 23.51 159.1 160.2 161.7 162 A 17.08 17.08 17 16 16.90 16.37 16.41 16 51 16.29 19.03 19.03 18 77 18.12 23.59 23.25 23.44 22.99 164.3 163.6 164 3 164.7 1937_j a n . 2 9 16 23 30 17.08 17.26 17.77 17.83 19 69 16.44 16.54 16.89 17.09 17 05 18.63 19.04 19.47 19.58 19 02 23.13 23.91 24.92 24.73 23.98 144 6 143.8 144.6 144.6 Feb 6 13 20 27 18.01 18.16 18.22 18.04 17.41 17.57 17.61 17.46 19.46 20.03 20.11 20.07 10.39 10.01 9.68 10.52 11.21 144.9 145.8 145.2 145.5 145.8 Mar 6 13. 20 27 18.44 18.47 17.94 17.57 17.89 17.89 17.34 16.99 9.82 10.28 10.34 10.75 11.79 12.13 12.44 13.15 147.1 148.0 149.9 151.9 Apr.. 3 10 17 24 17.71 17.16 17.19 17.09 8.97 9.25 9.55 9.69 10.54 10.56 10.97 10.91 12.83 13.21 13.26 13.11 152.2 153.9 153.5 154.5 May 1 15 22 29 9.73 9.87 10.13 10.29 10.27 9.32 9.41 9.21 9.78 9.73 10.84 10.90 11.21 11.69 11.47 13.66 14.26 14.11 15.03 15.32 153.2 152.5 153.5 154.9 154.2 July 6 13 . 20 27 10.37 10.58 10.62 10.80 9.81 10.07 10.14 10.32 11.39 11.55 11.75 11.98 15.79 15.66 15.28 15.43 Aug. 3 10 17 . 24 31 11.02 11.31 11.63 11.48 11.23 10.45 10 66 10.88 10.78 10.65 12.24 12 19 12.78 12.50 12.23 Sept 7 14 21 28 . . 11.48 11.81 11.57 11.54 10.85 11.18 10.98 10.98 Oct 5 . 12 19 26 11.37 11.60 11.90 12.34 Nov 2 9 . 16 23 30 Dec. 7 14 . 21 28 ... 1936—Nov. 7 14 21 28 1938—Nov. 5 12 19 26 13.17 13.68 13.10 12.78 13.03 13.55 13.00 12.69 10.47 10.98 10.76 10.01 16.38 16.78 15.99 15.64 170.3 170.7 169.5 168.7 165.5 166.7 167.9 167.5 168.3 Dec. 3 10 17. 24 31 12.52 12.43 12.74 12.71 13.01 12.45 12.39 12.69 12.67 12.92 9.73 9.57 9.98 10.09 10.83 15.19 14.89 15.11 15.02 15.51 169.5 170.3 169.1 168.7 167.5 1939__jan. 7 14 21 28. 13.07 12.60 12.68 11.84 12.92 12.43 12.45 11.60 11.04 10.43 10.42 9.47 16.04 15.82 16.53 15.79 168.7 169.1 171.2 171.2 23.76 23.50 23.47 22.91 167.9 167.1 166.3 164.7 Feb 4 11 18 25 12.28 12.39 12.43 12.36 12.03 12.12 12.15 12.07 9.82 9.87 9.88 9.91 16.35 16.78 16.83 16.88 170.3 171.6 169.1 171.2 20.94 21.65 21.49 20 66 22.77 22.50 21.95 21.58 162.4 159.8 157.7 156.6 Mar. 4 11 18 25 12.75 12.97 12.56 11.98 12.42 12.73 12.26 12.71 10.65 10.89 10.25 9.70 17.36 17.52 16.96 16.18 161.9 169.5 161.9 170.3 17.17 16.61 16.62 16.51 20.95 20.31 20.48 20.60 21.30 20.82 20.92 20.62 158.4 155.9 155.2 154.5 16.24 16.63 16.01 16.06 16.29 15.68 16.06 15.49 15.58 15.84 19.63 20.27 19.68 19.79 19.55 19.74 20.04 18.95 18.57 18.88 153.5 153.2 152.5 152.5 154.2 Apr. 1 8 15 22 29 11.58 10.84 10.67 10.85 10.90 11.64 10.57 10.41 10.59 10.62 9.32 8.55 8.23 8.35 8.40 15.79 14.90 14.77 14.96 15.19 169.1 168.7 167.9 167.9 168.7 May 6 13 20 27 11.14 11.28 11.00 11.35 10.85 10.96 10.69 11.04 8.64 8.86 8.53 8.93 15.55 15.84 15.59 16.02 168.3 168.3 168.7 169.9 June 5 12 19 26 16.13 15.94 15.35 15.46 15.71 15.53 14.97 15.11 19.26 19.14 18.09 17.59 18.55 18.12 17.59 17.82 154.9 155.6 155.2 155.2 10 17 24 11.53 11.67 11.44 11.48 11.20 11.35 11.13 11.16 9.16 9.19 8.87 8.89 16.15 16.31 16.03 16.16 170.3 171.2 170.3 170.7 153.5 153.5 153.2 154.2 July 3 10 17 24 31 15.37 16.32 16.44 . .. 16.90 16.89 15.04 15.94 16.10 16.50 16.47 17.14 18.32 18.14 18.35 17.94 17.75 19.13 19.17 20.07 20.67 155.6 155.9 153.5 155.2 156.3 July 1 8 15 22 29 11.04 11.13 11.47 12.07 12.13 10.72 10.81 11.15 11.73 11.76 8.49 8.58 8.84 9.53 9.57 15.65 15.78 16.21 16.84 17.28 170.7 171.2 172.9 173.3 173.7 16.55 17.74 18.93 18.48 16.98 154.9 154 9 154.5 154.2 153.9 Aug 7 14 21 28 16.97 17 14 16.82 16.24 16.63 16 84 16.56 15.98 17.77 17 92 17 49 16.82 20.06 19 95 19.30 18.77 156.6 157.3 157.0 157.3 Aug. 5 12 19 26 12.04 11 71 11.57 11.08 11.66 11.30 11.16 10.71 9.41 9.04 8.87 8.40 17.48 17.29 17.14 16.25 172.9 173.3 173.3 172.4 12.61 12.96 12.65 12.42 17.63 17.55 17.38 17.22 153.2 154.2 153.5 153.2 Sept 4 11 18 25 15.70 14.78 14.53 13.71 15.43 14.15 14.29 13.44 16.04 14.55 14.35 13.90 18.38 17.20 17.30 16.48 157.0 157.0 155.9 156.3 16.85 17.38 17.67 18.64 152.5 152.2 152.2 152.9 16.40 15.79 14.71 14.40 14.99 156.6 156.0 156.3 154.2 153.5 16.04 15.88 16.14 16.30 16.57 11.74 11.68 11.93 12.23 13.84 12.94 11.64 11.39 11.57 8.43 9.85 10.80 10.85 11.73 10.87 11.09 11.40 11.80 13.48 12.78 11.79 11.26 11.80 11.04 12.47 12.88 12.66 12.68 Oct. 2 9 16. 23 30 11 34 12.62 13.05 12.88 12.97 167.9 161.7 157.0 152.5 153.2 13.73 13.03 12.02 11.51 12.04 Sept 2 9 16 23 30 Oct 7 14 21 28. 12.79 12.75 12.96 13.05 12.50 12.46 12.67 12.74 11.40 11.26 11.52 11.56 16.42 16.45 16.64 16.96 152.9 155.2 159.1 160.2 12 49 12.83 13.11 13.32 13.03 11 92 12.24 12.51 12.69 12.39 12 23 12.50 13.16 13.65 13.95 19 17 19.71 19.94 20.29 19.62 153 2 153.9 154.2 154.5 155.9 Nov 6 13 20 27 11 53 11.65 11.15 10.54 11 26 11.29 10.74 10.10 11 00 11.27 10.87 10.21 14 66 15.65 15.43 15.10 153 9 154.2 153.9 153.2 Nov 4 11 18 25 12 89 12.70 12.73 12.63 12 58 12.39 12.41 12.31 11.29 10.96 11.03 10.91 16.81 16.71 16.81 16.81 162.8 163.2 165.1 167.5 13.12 13.04 12.85 13.06 12.44 12.36 12 21 12.41 14.48 14.34 13 94 14.02 19.77 19.63 19.29 19.72 156.6 156.6 158 4 158.7 Dec. 4 11 18 25.. 11.15 11.22 10.95 11.21 10.75 10.84 10.62 10.91 10.94 11.00 10.64 10 85 15.43 15.09 14.62 14.57 154.5 156.3 158.0 157.3 Dec. 2 9 16 23 30 12.35 12.36 12.33 12.40 12.41 12.03 12.68 12.02 12.10 12.11 10.53 10.48 10.37 10.28 10.31 16.59 16.59 16.44 16.49 16.58 167.9 168.3 168.7 170.3 168.7 Dec. 5 12 19 26.. ... ... ... 14. STOCK PRICE INDEXES: STANDARD AND POOR'S CORPORATION — Continued B. WEEKLY, 1934-63 — Continued [1941-43 = 10] Common Common Total Industrial Railroad PrePublic ferred utility 12.69 12.40 12.13 12.15 12.34 12.04 11.78 11.79 10.68 10.32 9.96 10.04 17.24 17.06 16.82 16.86 171.6 172.0 172.4 172.4 Feb. 3 10 17 24 12.08 12.25 12.30 12 27 11.71 11.90 11.96 11 92 9.97 10.17 10.20 10 12 16.84 16.84 16.84 16 90 172.4 171.6 171.6 170 7 Mar. 2 9 . 16 23 30 12.12 12 19 12.18 12 10 12 14 11.78 11 89 11.87 11 80 11 82 10.06 10 21 10.07 9 95 10 08 16.64 16.23 16.38 16 32 16 75 169.9 170 3 169.9 168 7 169 5 Apr 6 13 . 20 27 12 41 12.41 12.13 12 15 12 08 12.09 11.81 11 84 10 43 10.33 10 05 10 13 16 85 16.74 16.44 16 33 May 4 11 . 18 25 June 1 8 . 15 22 29 . 12 11 11 99 10.33 9 29 11 79 11 68 10.04 9 00 10 05 8 28 8.34 7 44 9.26 9 22 9 66 9.97 9 91 8.95 8 93 9.39 9.63 9 49 Julv 6 . 9 90 9.95 10 02 9.96 Aug. 3 10 17 24 31... Common PrePublic ferred utility Industrial Railroad PrePublic ferred utility 1944 Jan 1 8. 15 22 29 11.58 11.84 11.87 11.89 11.82 11.53 11.79 11.80 11.81 11.72 11.51 11 84 12.10 12.42 12.39 11.90 12 14 12.11 12.07 12 08 169.9 170 7 171.2 170.7 172 0 165.9 165.5 164 7 164.3 Feb 5 12. 19 26 11.74 11.68 11 80 11.85 11.62 11.56 11 65 11.67 12.44 12.54 13 01 13.21 12.10 12 04 12 21 12.36 172.0 172.4 173 3 172.9 7.75 7.41 7 42 7 27 163.6 160.2 158 0 157 3 Mar 4 11 18 25 11 88 12.06 12 27 12 17 11 71 11.93 12 13 12 02 12 99 13.02 13 38 13 44 12 40 12.46 12 58 12 56 172 9 172.9 173 7 173 7 8 25 8.36 8.03 7 95 7 13 7.13 6.95 6 80 156 6 154.9 155.6 154 5 7 70 7 91 7.98 8 06 8.20 8 03 8 15 8.05 7 99 8.01 6 82 7 16 7.15 7 20 7.29 152 5 153 5 155.6 157 7 158.4 Apr 1 8 15 22 29 12 02 12.00 12.00 11 79 11.78 11 87 11.86 11.84 11 65 11.64 13 18 13.14 13.25 12 89 12.83 12 40 12.34 12.39 12 15 12.13 173 7 173.7 174.6 173 7 173.3 May 6 13 20 27. 12 02 12.05 12 07 12.20 11 91 11.95 11 95 12.10 13 02 13.03 13 13 13.33 12 26 12.23 12 30 12.37 173.3 172.9 172 9 173.3 8 29 8.38 8.43 8 24 8 42 8.50 8.58 8 39 7 90 7 88 7.84 7 79 7 47 7 68 7.55 7 32 158 7 159.5 159.1 159 5 June 3 10 17 24 12 31 12.28 12.71 12 93 12 19 12 19 12.63 12 86 13 39 13.07 13.40 13 75 12 47 12.40 12.74 12 94 173 7 174.6 175.9 175.9 8 32 8.69 8 77 8.69 8 47 8.87 8 96 8.87 8 07 8 42 8 46 8.53 7 30 7.43 7.46 7.39 160 2 161.3 162 1 163.2 July 1 8.56 8.50 8 54 8.70 8 62 8.72 8.66 8 71 8.87 8 79 8.56 8.57 8 57 8.93 8 85 7.30 7.24 7 19 7.25 7 26 163.2 164.3 163 6 164 0 164 0 15 22 29 12 98 13.16 13 25 12.93 12.74 12 89 13 06 13 16 12.83 12.63 13 80 13.97 14 21 13.96 13.79 13 10 13.36 13 26 12.92 12.88 176.8 177.3 178.1 178.1 176.8 Aug. 5. 12 19 26 12.71 12 74 12.92 12 88 12.57 12 59 12.78 12 74 13.71 13.65 13.76 13.61 13.14 13.30 13.45 13 49 177.3 176.4 176.4 177.3 Seot 5 12:.::::::: 19 26 8 62 8.60 8 61 8.79 8 79 8.77 8 76 8.94 8 78 8.83 8 84 9.05 7 24 7.20 7 30 7.47 163 6 164.3 163 2 163 6 8 94 9.25 9 38 9.44 9.38 9 09 9.39 9 50 9.57 9.46 9 34 9.67 9 73 9.70 9.84 7 55 7 89 8 25 8.31 8.41 165 1 165.5 165 9 165.5 165.1 12 84 12.50 12 46 12.63 12.74 12 70 12.37 12 33 12 51 12.61 13.52 13.11 12 98 13.15 13.42 13.49 13.12 13.05 13.20 13.24 177.3 177.3 177.7 177.3 177.3 Oct 3 10. 17 24 31 Sept 2 9. 16 23. 30 Oct 7 14 21 28 12.90 12 97 13.02 12.79 12 78 12 84 12.87 12.63 13.67 13 77 13.88 13.75 13.34 13.48 13.64 13.44 177.3 177.3 177.7 177.3 Industrial Railroad 8.73 8.94 8.97 8.87 8 91 8.82 8.97 8.99 8.90 8.93 8.37 8.94 9.21 9.31 9.42 8.24 8.67 8.64 8.43 8.43 166.7 165.9 166.3 166.7 166.3 Feb. 7 14 21.. 28 8.90 8.65 8 52 8.54 8.92 8.67 8 53 8.56 9.43 9.06 9 02 9.10 8.41 8.21 8 08 8.01 Mar. 7 14 21 28 8.39 8.06 8 18 8 13 8 44 8.11 8 24 8 22 8 88 8.61 8 59 8 38 169 9 170.7 171 2 170 3 ADr 4 . . 8 07 8.07 7.81 7 68 8 18 8.17 7.91 7 78 16 38 16 16 14.16 13 07 171 2 171 6 167.9 162 4 7.60 7 61 7 88 8.31 8 41 13.18 12 92 13 18 14.11 14 71 159 5 159 1 159 5 160.6 160 2 May 2 9 16 23. 30 7 62 7 85 7.90 7 96 8.09 9 45 9 50 9 58 9.52 8 52 8 57 8 64 8.60 14 89 14.91 14 92 14.75 162 4 164 7 167 1 168.3 10.25 10.24 10 01 10.15 10 37 9.82 9.82 9 60 9.74 9 97 8.83 8.77 8 59 8 78 8 67 15.03 14.92 14 57 14.60 14 73 167.9 167 1 167 5 166 7 166 7 AUK Sept. 7 14 21... 28 10 75 10.41 10 58 10.77 10 38 10.02 10 21 10.42 9 60 9.20 9 41 9.52 15 07 14.61 14 59 14.57 167 9 168 3 168 7 169 5 Oct 5 . 12 10 79 10.56 10 67 10.74 10 45 10.22 10 32 10.41 9 9 9 9 14 46 14.23 14 38 14.42 170 7 171 6 171 2 170.3 l?::::::::: 20. . 27 19 26 69 50 57 61 Week ending— Total Total 1940 Jan 6 . 13 20 27 . S Week ending— 1942—Jan 3 10 17 24 31 ii.:::::::: 18 25 June 6. 13 20 27. July 4 .. ... n.:::::::: 18 25 1 s::::::::: 15. 22 29 . . 1942—Nov. 7. 14. 21. 28. 9.52 9.61 9.43 9.34 9.60 9.69 9.53 9.45 10.07 9.85 9.63 9.36 8.60 8.84 7.13 8.46 164.3 165.1 165.9 166.3 1944—Nov. 4, 11. 18, 25, 12.85 12.96 12.72 12.77 12.69 12.82 12.58 12.62 13.84 14.01 13.83 14.01 13.47 13.40 13.12 13.13 177.7 177.7 178.6 179.0 Dec. 5. 12. 19. 26. 9.32 9.36 9.58 9.71 9.45 9.53 9.74 9.88 9.27 9.05 9.21 9.33 8.33 8.23 8.50 8.55 167.1 167.1 167.1 166.7 9.73 9.91 10.01 10.12 10.38 9.91 10.05 10.13 10.24 10.50 9.36 9.69 9.82 9.99 10.07 166.7 167.1 167.5 168.3 169.1 12.81 13.01 13.19 13.16 13.13 12.66 12.85 13.00 12.94 12.90 1943—Jan. 2. 9. 16. 23. 30. 8.59 8.99 9.14 9.24 9.56 Dec. 2, 9, 16, 23, 30, 14.20 14.79 15.29 15.64 15.67 13.15 13.11 13.36 13.35 13.43 179.5 180.0 180.9 180.9 181.9 1945—Jan. 6, 13, 20 27, 13.44 13.64 13.51 13.35 13.19 13.36 13.26 13.10 16.16 16.80 16.10 15.65 13.69 13.90 13.98 13.94 182.3 182.8 183.7 183.7 175.9 174.2 173.7 172.0 Feb. 6. 13. 20. 27. 10.49 10.62 10.75 10.94 10.61 10.76 10.88 11.01 10.16 10.12 10.24 10.96 9.68 9.82 10.19 10.28 169.9 170.3 171.2 171.6 Feb. 3 10 17 24 13.54 13.72 14.01 14.17 13.27 13.43 13.70 13.86 15.72 16.12 16.73 16.96 14.31 14.61 14.84 14.95 184.2 185.7 185.2 185.2 12.25 12.21 12.27 12.21 12.05 171.6 171.6 170.7 171.6 172.0 Mar. 6. 13. 20. 27. 10.98 11.00 10.94 11.12 11.00 11.05 11.00 11.18 11.35 11.42 11.36 11.52 10.32 10.34 10.25 10.34 172.0 171.6 171.2 171.6 185.7 186.7 187.2 187.7 189.2 Apr. 3. 10. 17. 24. 171.2 170.7 171.6 171.6 15.04 14.92 14.82 14.61 14.41 172.0 171.6 171.2 170.3 10.94 10.94 10.78 11.08 16.74 16.66 16.69 16.47 15.96 12.21 12.49 12.07 12.37 13.93 13.87 13.74 13.45 13.25 12.03 11.77 11.35 11.13 11.62 11.52 11.27 11.39 14.23 14.15 14.04 13.76 13.54 9.82 9.49 9.32 9.39 11.57 11.50 11.28 11.43 Mar. 3 10, 17 24 31 172.0 172.0 172.0 172.0 172.4 189.7 190.2 190.8 192.9 168.7 168.7 169.1 169.1 168.7 11.09 11.32 11.36 11.36 11.38 14.58 14.68 14.79 14.81 10.98 10.78 10.75 10.66 10.58 12.52 12.96 12.75 12.82 13.01 16.31 16.69 17.44 18.06 9.46 9.68 9.44 9.26 9.22 11.53 11.86 11.80 11.85 11.99 13.47 13.68 14.17 14.29 9.16 9.30 9.29 9.34 9.23 11.55 11.89 11.86 11.86 11.99 13.77 14.00 14.53 14.69 Mar. 1. 8. 15. 22. 29. Apr. 7 14 21 28 May 5 12 19 26 14.86 14.78 14.76 14.78 14.49 14.42 14.38 14.39 17.97 17.64 17.76 17.95 15.95 15.97 16.00 16.08 192.3 192.3 190.8 190.2 9.48 9.81 9.84 9.91 9.34 9.70 9.74 9.83 9.29 9.43 9.35 9.45 10.72 10.87 10.89 10.82 169.1 167.5 168.7 170.3 June 5. 12. 19. 26. 12.21 12.11 11.94 12.02 12.25 12.15 11.98 12.11 12.98 12.60 12.25 12.34 11.48 11.51 11.42 11.50 173.3 173.3 173.3 174.2 16.29 16.50 16.73 17.04 17.29 26 171.6 172.4 172.9 174.2 July 3. 10. 17. 24. 31. n.a. 12.80 13.21 13.17 12.41 190.2 190.8 190.8 190.8 191.3 10.67 10.96 11.10 11.26 175.0 175.0 175.9 176.4 18.73 18.71 18.85 19.62 19.58 9.44 9.76 9.82 9.99 12.35 12.36 12.51 12.42 11.86 14.63 14.53 14.53 14.67 14.59 9.81 10.19 10.21 10.32 11.85 12.25 12.56 12.68 12.26 15.05 14.98 15.16 15.20 15.16 9.88 10.26 10.28 10.40 12.34 12.38 12.56 12.50 11.95 June 2 9 16 23 30 July 7 14 21 28 14.96 15.07 14.69 14.51 14.39 14.49 14.14 13.98 19.01 19.19 18.29 17.82 17.33 17.47 17.08 16.91 190.8 189.7 189.2 188.7 Aug. 2 9 16 23 30 10.40 10.30 10.10 10.16 10.26 10.31 10.22 10.03 10.08 10.20 10.11 10.00 9.81 9.88 9.91 11.20 11.03 10.81 10.84 10.88 174.2 174.6 174.2 173.9 174.6 Aug. 7, 14, 21, 28, 11.66 11.75 11.84 11.68 11.59 11.68 11.76 11.62 11.93 12.02 12.14 11.94 11.98 12.07 12.15 11.92 Aug.4 18 25 14.65 14.67 14.64 14.66 14.12 14.17 14.20 14.28 18.03 17.81 17.04 16.80 17.01 16.91 16.83 16.52 188.2 188.7 188.7 187.7 Sept 20 27 10.26 10.21 10.32 10.20 10.20 10.17 10.31 10.19 9.82 9.62 9.61 9.61 10.86 10.76 10.79 10.65 173.9 173.6 173.1 173.1 Sept. 4, 11, 18 25, 11.80 11.88 12.00 12.16 11.72 11.79 11.92 12.08 12.09 11.98 12.24 12.43 12.17 12.38 12.36 12.46 176.4 175.9 175.9 10.14 9.91 9.65 9.76 9.53 9.45 9.23 9.33 10.52 10.37 10.15 10.05 172.4 172.4 172.4 172.0 12.33 12.20 12.24 12.31 12.36 175.0 174.2 175.5 175.0 175.5 187.2 187.7 187.2 186.2 185.7 10.15 9.94 9.68 9.77 12.42 12.25 12.17 12.31 12.42 17.67 17.82 18.18 18.48 18.96 Oct. 2 9, 16 23 30 14.97 15.27 15.46 15.47 15.51 16.96 17.39 17.41 17.54 17.60 11.96 11.74 11.67 11.79 11.82 15.35 15.65 15.83 15.87 15.97 Oct. 4 11 18 25 12.04 11.83 11.77 11.89 11.93 Sept. 1 8 15 22 29 Oct. 6 13 20 27 16.35 16.56 16.63 16.50 15.90 16.10 16.16 16.03 19.11 19.40 19.46 19.32 18.35 18.54 18.76 18.73 186.2 187.7 187.2 189.2 Nov. 1 8 15 22 29 9.60 9.59 9.31 9.33 9.24 9.60 9.62 9.37 9.37 9.29 9.28 9.33 8.95 9.09 8.97 9.72 9.43 9.01 9.07 8.97 171.2 170.7 171.2 170.3 169.9 Nov. 6 13 20 27 11.71 11.30 11.23 11.23 11.63 11.23 11.14 11.16 11.89 11.32 11.42 11.31 12.15 11.71 11.70 11.60 175.0 173.3 171.6 170.3 Nov. 3 10 17 24 16.66 17.07 17.10 17.01 16.12 16.48 16.45 16.36 19.62 20.31 20.54 20.73 19.30 20.00 20.38 20.17 189.7 190.2 191.8 193.4 Dec. 6 13 20 27 9.30 8.77 8.59 8.41 9.35 8.88 8.70 8.51 8.88 7.98 7.94 7.80 9.01 8.28 7.98 7.90 170.7 169.1 168.7 168.3 Dec. 4 11 18 25 11.14 11.43 11.51 11.61 11.07 11.38 11.45 11.56 11.09 11.43 11.48 11.55 11.53 11.77 11.82 11.91 169.1 169.5 168.7 168.3 Dec. 1 8 15 22 29 17.11 17.49 17.44 17.05 17.34 16.46 16.88 16.84 16.47 16.74 20.90 21.16 21.01 20.71 20.96 20.26 20.41 20.20 19.57 19.97 193.4 193.9 194.4 196.1 196.7 1940—Nov. 2 9 16 23 30 10.97 11.19 11.23 10.89 10.64 10.63 10.91 10.99 10.65 10.43 9.73 9.93 10.15 9.88 9.57 14.79 14.48 13.95 13.62 13.14 170.3 168.3 170.7 173.7 173.7 Dec. 7 14 21 28 10.57 10.65 10.47 10.42 10.38 10.47 10.27 10.22 9.35 9.39 9.16 9.17 12.99 13.01 12.96 12.89 174.2 175.4 177.7 175.4 1941—Jan. 4 11 18 25 10.61 10.80 10.64 10.44 10.40 10.57 10.37 10.16 9.49 9.78 9.83 9.85 13.12 13.38 13.40 13.22 178.1 178.3 179.5 177.7 1 8 15 22 10.22 10.11 9.82 9.66 9.93 9.84 9.57 9.42 9.58 9.45 9.62 9.07 12.99 12.78 12.40 12.06 Mar. 1 8 15 22 29 9.90 9.85 10.02 9.90 9.95 9.67 9.62 9.81 9.78 9.73 9.31 9.29 9.39 9.37 9.53 10.06 9.78 9.52 9.40 9.85 9.56 9.32 9.19 9.36 9.47 9.46 9.47 9.37 Feb. 19 26 May 3 10 17 24 31 June 7 14 21 28 July ,i::::::::: 19 £:::::::: T 14. STOCK PRICE INDEXES: STANDARD AND POOR'S CORPORATION — Continued B. WEEKLY, 1934-63 — Continued [1941-43= 10] Common Week en dine? Total Industrial Railroad 17.28 17.87 18.30 18.00 16.71 17.25 17.62 17.25 20 74 21 54 22.30 21.96 19 93 20 79 21.57 21.86 196 7 197 2 197.3 198.9 18.63 . . . 18.57 18.28 17.79 17.89 17 86 17.58 17.11 22.53 22 44 21 97 21.14 22.40 22 07 21 82 21.31 199.4 199 4 200 0 201.2 17.08 17.32 17.29 17.63 18.02 16.42 16.64 16.62 16.93 17.34 20.27 20.40 20 25 20 58 20.93 20.64 21.12 21 09 21 68 21.97 201.2 201.8 201 8 203 5 205.3 Apr. 7 14 . 21 28 18.36 18.75 18.83 18.71 17.69 18.12 18.19 18.06 20 92 20.85 20 99 20.67 22 37 22.56 22 66 22.73 May 4 li.::...... 18 25 18.61 18.55 18.63 18.74 17.97 17.92 18.00 18.05 20.57 20.43 20.54 21 08 June 1 8 15 22 29 . . . 19.14 18.89 18.76 18.41 18.27 18.43 18.19 18.02 17.66 17.53 July 6 13 20 27 18.50 18.39 18.00 17 57 Aue 3 17.88 Mar. 2 9 16 23 30 Railroad PrePublic ferred utility 16.90 16.88 16.86 16.83 16 60 16 57 16.54 16.49 14 27 14.32 14.33 14.30 20 06 20.13 20.17 20.33 181 9 182 8 183.3 183.3 17.17 17.25 17.10 17.22 16.86 16 96 16.79 16.92 14.37 14 25 14.32 14.41 20.56 20 55 20.44 20.59 182.3 182 3 182 8 182.3 17.27 17.17 17.38 17.53 16.95 16.82 17 03 17.21 14.50 14.41 14 48 14.41 20.69 20.79 21.07 21.13 184.2 183.7 17.39 17.66 17.89 17.97 17.89 17.10 17.38 17.63 17.73 17.66 14.29 14.59 14.60 14.61 14.38 20.82 20.93 21.10 21.04 20.95 183.7 183.3 183.3 May 6 13 20 27 18.21 18.25 18.53 18.67 18.01 18.06 18.36 18.52 14.65 14.51 14.62 14.62 21.05 21.14 21.33 21.37 182.8 182.8 183.3 183.3 June* 3 10 17 24 18.77 18.96 19.11 19.01 18.66 18.91 19.06 18.96 14.42 14.29 14.59 14.45 21.31 21.22 21.22 21.18 183.4 183.0 182.3 181.9 July 1 8 15 22 29 17.85 17.76 17.07 17.26 17.43 17.80 17.72 16.99 17.16 17.34 13.60 13.66 14.01 14.92 15 91 19.97 19.66 18.80 18.75 18 59 180.7 178.1 178.1 178.5 179 4 17.99 18.45 18 43 18.71 17.98 18.49 18 47 18.77 15.95 16.07 16 13 16.15 18.70 18.95 18 97 19.11 180.3 181.4 182 3 183.0 Sept. 2 9 16 23 30 18.49 18.64 19.01 19.34 19.37 18.56 18.73 19.11 19.44 19.47 15.98 16.10 16.84 17.02 16.85 18.94 18.92 18.99 19.34 19.47 182.5 182.7 182.3 181.7 180.3 Oct. 7 14 21 28 19.92 19.84 19.93 19.88 20.11 20.04 20.13 20.08 17.17 17.05 17.28 16.93 19.56 19.41 19.43 19.47 180.9 180 1 180.8 180.3 Railroad 3 10 17 . . 24 31 15 23 15 23 14 95 14.51 14.53 15 10 15 02 14.74 14.28 14.29 14 41 14 66 14.25 13.84 14.16 16 26 16 86 16 63 16.40 16.28 167 9 169 5 170.3 169.5 168.7 Feb 7 14 21 . . . 28 14 39 13 95 14.01 14.00 14 16 13 72 13.80 13.78 13 91 13 50 13.54 13.52 16 18 15 75 15.68 15.61 168 3 166 7 167.1 167.9 Mar 6 13 20 27 14.13 14 01 14 15 14.71 13.91 13 75 13.89 14.49 13.72 13 68 13.75 14.30 15.73 15 88 16 02 16.30 168.3 169 9 169 9 171.6 205.3 204.7 204 7 204.7 Apr 3 10 17 24 . . 15 01 15.26 15 35 15.62 14.80 14.98 15 15 15.41 14.64 14.96 15.10 15.75 16.46 16.57 16 58 16.73 170.7 170.7 170 7 169.5 Apr 1 8 15 22 29 22.67 22 50 22.57 22 87 202.9 201.8 201.2 201 8 21.75 21.45 21.90 21.80 21.37 23.39 23 08 22.99 22.63 22 48 201.8 201.8 202.4 202.9 202.4 May 1 8 15 22 29 15.52 15.63 16.08 16 48 16.62 15.29 15.41 15.83 16.23 16.42 15.72 15.81 16.43 16.91 16.77 16.80 16.92 17.49 17 74 17.69 168.7 171.2 170.7 171.2 171.2 June 5 12 19 26 16.70 16.82 17.00 16.84 16.54 16.66 16.84 16.64 16.46 16.60 16.68 16.87 17.69 17.77 17.89 17.93 172.9 173.7 174.2 174.2 17.82 17.75 17.37 16 96 21.28 21.11 20 59 19 82 22.41 22.04 21 64 21 14 202.9 204.7 203.5 204 1 17.27 17.39 17 48 17.12 16.36 19.87 19 90 20 03 19.76 18 59 21.65 21 77 21 62 21.33 20 34 205.3 204 7 203 5 202.9 202.4 July 3 10 17 24 31 16.72 16.84 16.64 16 05 16 10 16.50 16.64 16.42 15 84 15.89 16.76 17.04 16.98 16 08 16.13 17.92 17.91 17.76 17 24 17 23 172.0 172.0 171.6 169 9 169.5 16.02 15 76 15.95 16.02 15 82 15 56 15.76 15.83 16.06 15 69 15.74 16.13 17 14 16 94 17.05 17.05 168.7 166 3 166.3 166.3 15.71 15 00 14.90 14.92 . . 17 24 . 31 Sept. 7 14 21 28 Industrial Industrial 15.23 14.53 14.45 14.51 16 90 16 08 15 55 15.07 18 84 18 09 18 05 18.01 201.2 197 2 194.4 191.8 Sept. 4 11 18 25 16.12 16 02 15.77 15.55 15.91 15 80 15.54 15.31 16.51 16.25 15.98 15.64 17.14 17.15 17.06 16.94 167.1 167 5 166.7 166.3 14 90 14 46 15 03 14.80 14.51 14 10 14.62 14.38 14 82 14 30 15 03 14.88 18 02 17 39 18 22 18.06 192 9 191 8 192 3 191.3 Oct 2 9 16 23 30 15.50 15 87 16.08 16.41 16.54 15.28 15 68 15.91 16.25 16.39 15.55 15.90 15.89 16.24 16.25 16.80 16 97 17.07 17.27 17.40 165.1 163 6 163.6 163.6 164.3 io:: •":*': 17.99 Oct 5 . 12 19.. 26 Total Total PrePublic ferred utility 18 07 17.72 16.91 1946 Jan. 5 12 19 26 Feb. 2 9 . 16 23 Common Common PrePublic ferred utility . Week ending— 1948 Jan Aug 7. 14 21 28 . Week ending— 1950 Jan 7 14 21 28 . . . Feb. 4 11 18 25 Mar. 4 11 18 25 . . . • '. Aue 5 li: 19. 26 :::::::: T 1 1946—Nov. 2 9 16 23 30 14.68 14.93 14.82 14.38 14.53 14.21 14.42 14.34 13.90 14.03 15.14 15.56 15.40 14.80 15.11 18.12 18.65 18.32 17.93 18.23 189.7 190.2 190.2 189.2 187.7 Dec. 7 14 21 28 14.63 15.26 15.35 15.28 14.12 14.70 14.78 14.73 15.26 16.27 16.11 15.77 18.46 19.20 19.55 19.43 185.7 186.2 186.7 186.7 1947—Jan. 4 11 18 25 15.25 15.31 14.92 15.10 14.70 14.78 14.40 14.57 15.59 15.42 14.98 15.22 19.36 19.36 18.91 19.20 Feb. 1 8 15 22 15.58 15.96 15.97 15.79 15.07 15 46 15.49 15.30 15.69 16.19 16.19 15.93 Mar. 1 8 15 22 29 15.47 15.39 14.89 15.08 15.23 14.98 14.94 14.45 14.66 14 84 Apr. 5 12 19 26 15.19 14.80 14.21 14.48 May 3 10 17 24 31 1948—Nov. 6 13 20 27 15.94 15.13 15.28 15.03 15 80 14.99 15.15 14.90 15 42 14.31 14 46 14.17 16 86 16.20 16.23 16.06 163 6 164.7 168.3 168.3 1950 N o v 4 11 18 25 19 68 19 66 19 87 20.11 19 88 19 88 20 08 20.36 16 48 16 47 17 17 17.49 19 39 19 25 19 34 19.28 180 1 179 9 181 0 181.6 Dec. 4 11 18 25 14.99 15.23 15.22 15.18 14.88 15.16 15.15 15.10 14.09 14.23 14.13 13.94 15.87 15.87 15.89 15.95 167.9 168.3 168.7 169.1 Dec. 2 9 16 23 30 19.64 19.34 19.58 19.97 20.29 19.85 19 53 19.75 20 12 20.43 17.01 17 37 18.24 19 18 19 24 15.21 15 31 15.40 15 45 15.29 15.12 15 21 15.29 15 32 15.13 13.95 14 11 14.11 14 27 14.04 16.06 16 31 16.48 16 59 16.76 169.5 169 1 1951 170.7 172 0 173.7 181.2 180 5 179 9 179 5 179 8 185.7 187.2 187.2 187.2 1949_Jan. 1 8.. . . 15 22 29 19.03 18 60 18 63 18 92 19 37 Jan 6 13 20 27 20 82 . .. 21 06 21 41 21.24 20 97 21 22 21 59 21.41 19 83 20 03 20 74 20.42 19 82 20 03 20 11 20.01 179 8 180 4 181 2 181.5 19.40 19.62 19.51 19.48 187.7 189 2 189.2 189.2 Feb. 5 12 19 26 15.20 14 68 14 73 14.52 15.02 14 48 14.53 14.31 13.77 13 12 13 14 12.67 16.87 16 61 16 67 16.69 174.6 173 3 172 9 172.0 Feb 3 10 17 24 .. 21.81 22 13 22 12 21.87 22.02 22 37 22 35 22.08 21.39 21 83 21 53 20.91 20.14 20 17 20 31 20.47 181.7 181 4 181 0 180.5 15.30 15.01 14.37 14.44 14.44 19.31 19.34 18.56 18.60 18.64 188.2 188.7 188.7 187.7 187 2 Mar. 5 12 19 26 14.69 14 93 14 96 14.89 14.50 14 74 14.78 14.69 12.85 13 04 12 93 12.85 16.73 16 95 17.02 17.05 172.0 172 4 171 6 172.4 Mar 3 10 17 24 . 31 21 87 21 88 21 49 ... 21 58 21 42 22 06 22 07 21 70 21 81 21 67 20 72 20 49 19 86 19 82 19 37 20 70 20 77 20 45 20 45 20 21 180.7 178 6 174.9 173.6 172 6 14.80 14.42 13.84 14 11 14.29 13.78 13.10 13.34 18.64 18.22 17.61 17.85 187.2 187.2 186.2 186 2 Apr. 2 9 16 23 30 15.06 14 96 15.02 14.87 14 72 14.86 14 73 14.78 14.62 14 49 13.11 13 10 13.05 12.80 12 72 17.19 17 30 17.49 17.40 17 17 172.4 172 9 172.0 172.4 171 6 Apr 7 14 21 28 21 51 21.85 22 07 22 16 21 77 22.16 22 40 22 54 19 62 19.89 20 11 20 02 20 16 20.21 20 20 20 10 171 5 170.8 170.1 169 2 14.61 14.69 14.11 14.05 14.26 14.26 14.36 13.79 13.76 13.98 13.31 13.13 12.40 12.31 12.60 17.92 17.93 17.35 17.09 17.21 185.7 186.7 186.7 185.7 185.7 May 7 14. 21 28 14.92 14 87 14 84 14.54 14.69 14 61 14 56 14.25 12.70 12 74 12 83 12.59 17.42 17 59 17.68 17.43 171.6 172 4 173.7 175.0 May 5 12 19 26 .. 22.64 22 49 21 77 21.19 23.08 22 90 22 11 21 48 20.40 20 36 19 53 18 76 20.19 20 19 20 05 19 91 169.7 170 0 168.4 168.5 14 21 28 14.42 14.74 15.05 15.10 14 15 14.49 14.79 14.81 12.64 12.80 13.21 13.45 17.22 17.46 17.79 17.94 186 2 185.7 186.2 186.7 June 4 11 18 25 14.13 13 87 13.44 14.09 13.82 13 56 13.47 13.83 12.05 11 73 11.44 11.81 17.20 16 99 16.82 16.89 175.0 176 8 176.4 175.9 June 2 9 16 23 30 .. 21.39 21 42 21.71 21 86 21.20 21 68 21 72 22.06 22 23 21 53 19 03 19 09 19.23 19 07 17.97 20 04 20 03 20.01 20 16 20.01 167.9 169 0 168.7 167.6 166.3 July 5 12 19 26 15.43 15.67 15.88 15.96 15.16 15.38 15.59 15 67 13.74 14.29 14.75 15 01 18.18 18.43 18.45 18 43 187.2 188.2 188.7 189 2 July 2 9 16. 23 30 14.13 14.47 14 69 14 90 15 03 13 87 14.25 14 48 14.69 14 81 11 72 11.74 11 92 12 12 12 25 16 96 17.22 17 32 17.53 17 73 176.4 175.9 176 4 176.4 177 7 July 7 14 21 28 .. 21.40 21 76 21 85 22 37 21 75 22 14 22 22 22 77 18 18 18 19 16 37 54 32 20.10 20 30 20 39 20 58 165.7 166 9 166.9 167 2 Aug. 2 9 16 23 30 15.72 15.60 15.47 15.45 15.25 15.43 15 31 15.14 15.14 14.92 14.55 14 22 14.06 14.09 14.83 18.32 18 30 18.29 18.34 18.18 188.7 188 2 188.7 189.2 188.7 Aug. 6 13 20.. . . 27 15.18 15 41 15.38 15 24 14.96 15 15 15.31 14.99 12.28 12 82 12.73 12 46 18.01 18 30 18.30 18.27 178.1 178 6 179.5 180.4 A U K8. 4 11 18 25 22.64 22 92 22.82 22 86 23 06 23 37 23.26 23 33 19 57 19 82 19.50 19 35 20 70 20 79 20.83 20 79 167.6 169 0 169.5 170.7 Sept. 6 13 20 27 15.24 14.96 15.14 14.97 14.93 14 65 14.84 14.66 13.83 13 58 13.70 13.52 18.16 17 89 17.95 17.89 188.7 188 7 188.2 187.7 Sept. 3 10 17 24.. . . 15.23 15 37 15 65 15 44 14.97 15.11 15 38 15 13 12.33 12.45 12 70 12 64 18.33 18.43 18 83 18 87 180.9 182.3 183 3 181 4 Sept 1 8 15 22 29 23.07 23.43 23 62 23 55 23 32 23.56 23 94 24 15 24 04 23 77 19.55 20 04 20 35 20 53 20 72 20.85 20 98 21 03 21 10 21 01 170.1 170.4 168 9 167 7 167.0 Oct. 4 11 18 25 15.15 15.26 15.60 15.66 14.85 14.98 15 33 15.42 13.76 13.77 14.07 14.18 17.96 18.00 18.15 18.02 184.7 183.3 181 4 180.0 Oct 1.. 8 15 22 29 15.53 15.78 15.91 15 85 16.04 15.22 15.49 15.63 15 58 15.80 12.77 12.93 13.09 12 92 12.90 18.96 19.07 19.14 19 03 19.06 181.4 181.4 180.4 180 0 179.5 Oct. 6 13 20 27 .. 23.70 23.70 23 57 . . 22.81 24.16 24 15 24 04 23.20 21.13 21 19 20 74 19.85 21.20 21.29 21 18 20.90 167.2 167.5 167 1 166.9 Nov. 1 8 15 22 29.. . 15.47 15.36 15.24 15.32 15.11 15 26 15.20 15.11 15.20 15.03 13.68 13.34 13.17 13.45 13.29 17.68 17.28 17.01 16.79 16.22 176 8 175.5 173.3 174.2 175.0 N o v 5.. . 12 19 26 16 22 16.15 15.98 16.13 15 99 15.91 15.73 15.88 12 93 12.91 12.79 12.80 19 23 19.24 19.21 19.30 180 0 179.5 180.0 180.0 Nov 3 10 17 24 22 84 . . 22.68 22.83 22.55 23 26 23.06 23 20 22.90 19 51 19.27 19 47 19.22 20 91 21.08 21.21 21.06 166 4 165.9 165.4 165.0 Dec. 6 13 20 27 14.87 14.87 15 13 15.19 14.80 14.79 15 02 15.07 13.02 13.18 13 93 14.30 15.97 16.05 16 18 16.12 173.7 174.6 173 3 171.2 Dec 3 10.. . . 17 24 31 .. 16 16 16.42 16.64 16 58 16.69 15 91 16.02 16.39 16 31 16.42 12 94 13.24 13 40 13 39 13.77 19 30 19.47 19.80 19 83 19.88 179 5 180.0 180.0 180 9 181.4 Dec 1 8 15 22 29 22 70 23.23 23.37 23 51 23.60 23 08 23.64 23 76 23 94 24.05 19 37 20.14 20 33 20 17 20.07 21 06 21.28 21.51 21 59 21.59 165 3 165.7 163.8 163 2 161.9 .. 14. STOCK PRICE INDEXES: STANDARD AND POOR'S CORPORATION — Continued B. WEEKLY, 1934-63 — Continued [1941-43 = 10] Common Common Common Total Industrial Railroad PrePublic ferred utility 24.71 25.04 25.08 25.70 26.03 24.75 25.11 25.13 25.81 26.17 20.37 20.74 20,81 21.45 21.75 25.08 25.25 25.35 25.67 25.77 166.7 167.0 168.0 169.4 170.5 Feb 6 13 20. 27 26.08 26.14 25.92 25 93 26.21 26.25 25.99 26 02 21.98 22.23 22.24 22 03 25.89 25.98 25.86 25.87 171.8 172.2 171.4 171.6 Mar 6. 13 20 27 26.36 26.58 26.66 26.57 26.50 26.73 26.80 26.69 22.23 22.20 22.09 21.79 26.07 26.34 26.48 26.56 171 2 171.7 172 9 172.4 Apr 3 10.. . 17 24 26 93 27.27 27.75 27.72 27 14 27.55 28.10 28.09 21 74 21.67 21.97 21.66 22 20 22 38 22.40 22 45 22.50 172.9 173 2 173.4 173.6 173.5 May 1 8 15 22 29 27 97 28 39 28.64 28 84 29.07 28.39 28 84 29.11 29.33 29.55 22 80 23.17 23 09 23 20 22 54 22.58 22 49 22 43 173 4 173.4 173.8 172 4 June 5 12.. 19 26 29 15 28.48 28.90 29 15 25 45 25 30 25 46 25 50 23 48 23 24 23 15 23 22 22 22 22 22 50 50 58 60 171 3 170 9 171 5 170 9 July 3 10.. 17 24. 31 25 34 25 48 25 32 24 95 24 93 25 75 25 87 25 68 25 27 25 23 23 54 23 69 23 52 23 04 23.13 22 80 23 08 23 08 23 01 23.10 171 0 170 5 169 9 170 0 169.2 29 34 29 99 30.10 30 09 30 60 Aug. 7 14 21 28 30 79 30 50 31 13 30.75 31.31 30 98 31 70 31.30 24.98 24 78 25 17 24.53 28.87 28 78 28.96 28.82 174.2 174 3 175.2 175.2 Sept 6 13 20 27 25 21 24 82 24 53 24 72 25 54 25 12 24 79 24 97 23 26 22 52 22 30 22 86 23 26 23 12 23 06 23 19 170 170 170 169 Sept 4 11 18 25 30 20 30.73 31 37 31.99 30 71 31 33 32 07 32 82 23 24 24 24 85 16 60 67 28 50 28.62 28 81 28.87 174 8 174.2 175 8 176.9 Sept. 1 8 15 22 29 Oct 4 11 18 25 24 54 24 51 24 16 23 98 24 78 24 76 24 39 24 19 22 62 22 51 22 28 22 11- 23.15 23 08 22.79 22 71 169 2 169 4 168 0 166 9 Oct. 2 9. 16 23.. 30 32.46 32.64 32.11 32.03 31.90 33.44 33 66 33.07 33 03 32.94 24.43 24 62 24.61 25 09 24.76 28.78 28.74 28.37 27.91 27.57 177.2 177.4 177.8 178.2 178.9 Oct. 6 13 20 27 Week en dine Total Industrial Railroad PrePublic ferred utility 1952—Jan. 5 12 19. 26 23.86 23.90 24.18 24.56 24.31 24.29 24.58 25.02 20.37 20.48 20.99 21.43 21.85 22.18 22.31 22.29 161.6 163.3 164.3 165.4 Feb 2 9 16 23 24.38 24.17 23.92 23.34 24.80 24.56 24.23 23.58 21.20 20.92 20.88 20.53 22.36 22.40 22.53 22.33 166.2 165.7 166.1 165.9 Mar 1 8. 15... 22 29 23 23 23.64 23 71 23.90 24.00 23 44 23.87 23 93 24.13 24.24 20 62 21.23 21 66 21.81 22.01 22 32 22.51 22 54 22.62 22.61 166 0 166.1 166.5 169.7 170.6 Apr 5 12 19.. 26 24 14 23.98 23 60 23.55 24 38 24.20 23 82 23.77 22 55 22.34 21 77 21.82 22 58 22.57 22 31 22 24 May 3 . . 10 17 24.. 31 23 45 23 77 23.66 23 80 23.88 23.65 24 00 23.86 24.01 24.09 21.81 22 16 21.98 22.26 22.47 June 7 14 21. 28 23 98 24.32 24 43 24 68 24 17 24.56 24 72 25 03 July 5 12 19 . 26 25 05 24 92 25 05 25 09 Aug 2 9 16 23 30. 5 2 1 9 Week ending— 1954—j an . 2 9 16 23 30 Total Industrial Railroad PrePublic ferred utility 1956—Jan. 7 14 21 28 45.06 44.49 43.94 43.46 47.95 47.28 46.68 46.08 33.83 33.47 32.82 32.56 31.68 31.61 31.43 31.44 173.2 173.8 174.1 174.6 Feb 4 11 18 25 44.07 44.17 43.88 44.82 46.74 46.83 46.48 47.57 33.16 33.01 32.86 33.56 31.80 32.06 31.98 32.19 175.5 176.4 175.5 175.5 172.6 173.4 173.0 173.6 Mar 3 10 17 24 31 45.48 46.19 47.57 48.65 48.47 48 35 49.05 50.64 51.97 51.75 33 74 34.57 35.40 35.70 35.91 32 33 33.04 33.44 33.41 33.29 175.6 175.3 175.4 174.6 172.8 26 60 26.67 26.84 26.82 173.8 174.3 174.0 174.5 Apr 7 14 21 28 48.69 48.16 47.79 47.50 52 08 51.52 51.08 50.74 35 99 35.56 36.09 36.69 33 01 32.64 32.37 32.03 171.5 170.3 167.7 165.4 21.97 22 73 22.94 23.20 23.35 26.72 26 82 26.98 27.12 27.34 174.2 173.8 174.2 173.4 173.7 May 5 12 19 26 48.31 47.69 46.46 45.10 51.71 50 97 49.54 47.96 36.84 37 08 36.09 34.69 32.21 31 98 31.75 31.61 165.6 167.0 166.6 165.4 29 64 28.81 29.36 29 63 23 30 22.85 23.54 23 80 27 47 27.08 27.17 27 32 173.6 172.9 172.9 172.9 June 2 9 16 23 30 45.00 45 69 46.23 46.42 46 86 47.91 48 72 49.33 49.56 50 09 33.86 33 94 34.29 34.42 34 30 31.46 31 82 31.94 31.95 32 05 165.6 167 3 168.0 168.1 167.8 29 84 30 57 30.61 30 55 31.12 23 70 24 00 24.51 24 52 24 93 27 53 27.86 28.14 28 42 28.62 172.1 172.4 172.8 173.7 174.2 July 7 14 21 28 .. 47.52 48.56 49.28 49.33 50 86 52.05 52.90 52 83 34 13 34 46 34.63 35 11 32 39 32.76 33.00 33 50 167.6 168.6 168.3 168.4 4 .. 49.44 49.16 48 83 47.90 52 93 52.60 52 26 51 24 34 80 34.44 33 93 33.22 33 76 33.81 33 63 33.15 167.9 166.6 165 1 163.6 47.41 47.96 47.24 46.60 45.78 50.74 51 41 50.62 49 86 48.97 32.62 32 57 32.05 32 03 31.37 32.71 32.79 32.43 32.26 31.79 162.1 160.6 158.9 159.3 159.7 45.85 46.66 46.46 46.08 49.10 50.01 49.75 49.31 31.38 32.23 32.69 32.65 31.55 31.77 31.74 31.58 158.6 159.3 159.9 157.9 Week, ending— AUK .. .... n:::.::::: 18 25 . .. 1952—Nov. 1 8 15 22 29 24.21 24.71 24.72 25.17 25.49 24.42 24.95 24.90 25.37 25.72 22.16 22.46 22.70 23.03 23.63 22.99 23.37 23.67 23.99 24.10 168.1 168.8 169.8 169.9 170.6 Dec. 6 13 20 27 25.67 25.93 26.07 26.24 25.90 26.17 26.30 26.50 23.87 24.35 24.85 25.20 24.20 24.35 24.36 24.30 170.9 170.7 170.5 170.0 1953—Jan. 3 10 17 24 31 26.53 26.38 26.02 26.09 26.16 26.85 26.68 26.27 26.35 26.39 24.94 24.87 24.56 24.47 24.73 24.44 24.43 24.37 24.35 24.50 169.6 169.4 169.1 167.2 168.0 Feb. 7 14 21 28 26.29 25.67 25.57 25.88 26.53 25.87 25.74 26.09 24.44 23.82 23.87 24.41 24.72 24.47 24.36 24.42 167 3 166.1 165.6 166.2 Mar. 7 14 21 28 25.87 26.03 26.24 26.05 26.07 26 22 26.43 26 22 24.34 24 52 24.81 24 60 24.47 24 73 24.87 24 78 165.4 166 2 166.3 164 9 Apr. 4 11 18 25 25.35 24.79 24.82 24.45 25.50 24.91 24.95 24.57 23.65 23.01 23.04 22.56 24.30 23.98 24.01 23.68 May 2 9 16 23 30 24.58 24.98 24.81 24.89 24.70 24.74 25.20 25.01 25.03 24.81 22.72 22.94 22.91 23.56 23.40 June 6 13 20 27 24.13 23.74 23.74 24.11 24 27 23.92 23.93 24.31 July 4 11 18 25 24.24 24.45 24.19 24.21 Aug. 1 8 15 22 29 Nov. 6 13 20 27 32.44 33.27 33.51 34.10 33.50 34.36 34.64 35.28 25.01 26.07 26.61 27.12 28.12 28.64 28.61 28.93 179.1 179.0 178.6 178.8 1956—Nov. 3 10 17 24 46.37 46.95 46.05 45.00 49.65 50.30 49.23 48.03 32.16 32.37 31.97 31.21 31.82 32.12 31.96 31.69 156.9 156.2 154.3 152.3 Dec. 4 11 18 25 34.29 34.76 34.69 35.36 35.46 35.94 35.82 36.56 27.57 28.54 28.75 30.00 29.06 29.31 29.43 29.48 178.5 178.2 178.5 178.7 35 59 35.81 35.55 34.98 35.83 36 80 37.08 36.74 36.08 37.04 30 34 29.95 30.00 29.07 29.78 29 62 29.75 29.82 29 85 30.12 177.7 176.9 176.4 174.8 174.9 Dec. 1 8 15 22 29 44.73 46.41 46.49 46.39 46.43 47.74 49.73 49.83 49.74 49.81 31.18 32.01 31.92 31.59 31.46 31.50 31.74 31.76 31.65 31.60 151.9 150.7 151.9 151.5 151.5 1957—Jan. 5 12 19 26 46.38 46.26 45.23 44.53 49.87 49.41 48.18 47.59 31.72 32.35 31.36 30.66 31.86 32.25 32.32 32.39 152.2 154.3 154.6 157.6 Feb 5 12 19 26 36.67 36.88 36.86 36.72 38.04 38.23 38.08 37.86 30.22 30 41 31.04 31.75 30.20 30 53 30.98 31.00 174.7 175.0 175.1 175.1 Feb 2 9 16 23 44.69 43.84 42.90 43.52 47.49 46 49 45.47 46.19 30.61 30.08 29.26 29.60 32.66 32.53 32.03 32.17 156.9 157.0 156.6 156.3 Mar 5 12 19 26 37.11 36.47 35 79 36.53 38.26 37.58 36 91 37.71 32.44 31 65 30 91 31.47 31.24 30 94 30 20 30.63 175.4 174.2 174 4 174.4 36.75 37.11 37.71 38.22 38.03 37.94 38.35 38.96 39.52 39.34 31.97 32 37 33.34 34.15 34 05 30.67 30.74 31.23 31.28 31.07 174.5 175.4 176.5 176.3 175.9 43.45 44.18 43 94 44.03 44 03 46.09 46.98 46 76 46.90 46 90 29.26 29.60 29 28 29.20 29 36 32.35 32.58 32 40 32.43 32 41 157.0 157.3 157 0 157.2 157 2 162.7 162.8 161.5 161.1 Apr 2 9 16 23 30 Mar. 2 9 16 23.. 30 Apr. 6 13 20 27 44.39 44.83 45.12 45.58 47.30 47.82 48.16 48.67 29.62 29.72 29.64 29.92 32.62 32.83 32.98 33.44 157.0 157.6 157.0 155.5 23.58 23.69 23.60 23.77 23.71 160.3 160.5 158.9 160.6 159.8 May 7 14 21 28 37 82 37.57 37.30 37 66 39.08 38.83 38.56 38.97 33 78 33.58 33.12 33 37 31 08 30.89 30.70 30 83 175.7 175.6 175.7 175.2 May 4 11 18 25 46.04 46.33 46.91 47.22 49.21 49.55 50.25 50.64 30.32 30.49 30.50 30.55 33.70 33.90 34.08 34.24 155.7 155.7 154.3 153.5 22 58 22.27 22.29 22.93 23 11 22.46 22.37 22.57 157 7 156.2 156.4 156.7 June 4 11 18 . 25 38.08 39 03 39.83 40 59 39.43 40 54 41.48 42 41 34.00 34 27 34.58 34 71 30.95 31 19 31.35 31 40 175.4 175 5 175.1 176 6 31.31 31 46 31 80 32.10 32.56 176.2 176.1 175 9 177.2 177.4 34.07 34 02 33.87 33 16 32.36 153.5 152 8 150.5 148.1 146.5 157.7 159 3 159.4 161.6 34.54 34 20 34 06 33.91 34.09 30.12 29 97 30.29 30 16 30.03 22.95 23 30 23.22 23.23 42.89 44 82 44 71 44.65 45.92 50.43 51 02 51.69 51 54 50.95 23.16 23 40 23.00 23.07 40.95 42 52 42 48 42.47 43.57 47.00 47 43 47.94 47 72 47.13 24.38 24 57 24.28 24.30 July 2 9 16 23 30 June 1 8 15 22 29 July 6 13 20 27 48.12 48 92 48.74 48.54 52 07 52 99 52.80 52.58 30.38 31 25 31.61 31.61 32.93 33 29 33.02 32.73 149.1 148 8 147.8 145.1 24.34 24.78 24.72 24.39 23.88 24.45 24.89 24 78 24.43 23.88 22.88 23.29 23 07 22.56 21.76 23.35 23.79 24 08 23 99 23.80 162.5 162.8 163 4 163 6 162.6 Aug. 6 13. 20 27 42.79 : . . 42 03 41 96 42 59 45.00 44.13 44 01 44 71 33.38 32 65 32 97 33 69 32.60 32 39 32 46 32 64 176.8 175.4 174 6 173 2 Aug. 3 10 17 24 31 23.47 23.44 22.93 23.16 21.07 20.83 20.22 20.50 23.52 23.59 23.04 23.33 161.8 162.4 162.8 162.5 33.58 34.39 34 75 34.73 32.71 32.81 32 84 32.75 171.9 172.9 172.9 173.1 32.52 32.38 31 99 31 62 31 30 23.48 23.45 22.93 23.17 45.47 46.23 47.31 48.04 30.92 30.49 29 65 29 12 28.26 145.7 145.6 144 8 144 7 145.2 43.21 43.87 44 76 45.34 51.80 50.75 49 67 48 64 48 11 Sept. 5 12 19 26 Sept 3. 10 17 24 47.84 46.96 45 99 45 07 44.56 20.63 20.45 20.87 21.31 21.08 23.69 23.95 24.26 24.42 24.42 164.7 165.1 166.5 167.9 169.6 31.73 31.33 30 75 31 02 31.15 172.0 172.2 172 4 174.8 174.7 31.35 31.08 31.27 30.77 145.3 146.0 147.7 145.9 32.82 32.27 31 29 31.99 32.20 28.30 27.64 27.34 25.86 23.46 23.51 23.79 24.22 24.44 46.24 45.15 43 50 44.45 44.93 48.63 47.98 47.96 46.09 23.47 23.55 23.84 24.23 24.40 43.64 42.68 41 22 42 05 42.47 45.00 44.41 44.40 42.65 Oct. 3 10 17 24 31 Oct 1 8.. . 15 22 29 . Sept. 7. 14 21 28 Oct 5 12 19 26 42.84 41.61 41.04 40.03 46.24 44 80 44.17 43.14 26.28 25 48 24.85 23.58 31.01 30 76 30.46 29.57 146.1 147 1 146.5 144.6 Nov. 7 14 21 28 24.61 24.51 24.35 24.51 24.66 24.49 24.34 24.50 21.21 21.30 21.08 21.06 24.60 24.60 24.65 24.88 169.4 169.4 168.5 167.9 NOv 5 12 19 26 42 83 44.68 45 93 45.57 45 32 47.48 48.97 48.53 31 99 33.28 34 16 34.63 31 52 31.88 31 92 31.80 175 1 175.7 174 9 174.2 25.18 25.20 25.20 25.17 167.3 166.9 165.9 165.8 35 29 34.96 34 16 34 07 34.20 32 02 32.18 31 93 31 74 31.66 173.5 173.2 173 5 172.8 172.1 145 0 144.4 144.2 147.2 150.0 21.45 21.01 20.91 20.67 Dec 7 14 . 21 28 41.42 40.65 39.64 39.68 44.58 43 68 42.49 42.52 23 66 23.10 22.72 22.11 22.55 22.08 21 47 21.12 21.00 30 24 30.33 30.33 30.80 31.38 24.89 24.85 24.88 24.83 48.28 48.62 48 09 48.15 48.13 43 87 43.52 42 82 43.27 44.18 24.89 24.84 24.86 24.80 45 45 45.73 45 23 45 24 45.23 40 73 40.42 39.83 40.22 41.06 Dec. 5 12 19 26 Dec. 3 10 17 24 31 Nov 2 9 16 23 30 31.69 31 88 31.67 31.80 152.0 154.3 157.7 158.2 1954 1955—Jan 1 ... 8 15 22 29 14. STOCK PRICE INDEXES: STANDARD AND POOR'S CORPORATION — Continued B. WEEKLY, 1934-63 — Continued [1941-43 = 10] Common Week ending— Common Total Industrial Railroad PrePublic ferred utility 40.19 40.76 40 86 41.38 43.07 43.66 43.69 44.23 21.45 22.16 22.37 23.02 32.23 32.63 33 24 33.67 157.7 158.7 160 0 161.8 Feb 1 8 15 22 41.70 42.10 41 16 41.04 44.53 45.00 43 91 43.75 23.48 23.87 22 92 22.92 34.03 34.18 34 02 34.11 162.1 160.4 159 9 159.8 Mar. 1 8 15 22 29 40.74 41.60 42.38 42.11 42.34 43.40 44.39 45.29 44.97 45.22 22.29 22.36 22.82 22.57 22.68 34.16 34.43 34.57 34.53 34.68 159.5 158.5 158.9 158.6 157.3 Apr. 5 12 19. .. 26 41.78 41.61 42.30 43.01 44.56 44.32 45.03 45.77 22.19 22.20 23.37 24.15 34.77 35.01 35.50 36.05 157.7 158.9 160.2 163.0 May 3 10 17 24 31 43.38 43.94 43.44 43.61 43.90 46.17 46.80 46.21 46.40 46.70 24.23 24.84 24.59 24.64 25.10 36.41 36.51 36.49 36.62 36.77 162.5 162.2 163.0 162.3 162.1 1958—Jan. 4 11 18 . . 25 Week ending— Common Total Industrial Railroad PrePublic ferred utility I960—Jan. 2 9...' 16 23 30 59.49 59.92 58 41 57.36 56.42 64.05 64.50 62 69 61.49 60.37 33.61 34.41 33 81 33.48 33.00 44.54 44.76 44 57 44.34 44.31 142.7 143.8 143 5 144.2 143.5 Feb. 6 13 20 .. 27 56.27 55 46 55.39 55.94 60.18 59 23 59.15 59.78 32.75 32 69 32.39 32 59 44.41 44 24 44.33 44.48 144.2 145 5 145.9 145.4 Mar. 5 12 19 26 55.42 53.92 54.81 55.61 59.16 57.52 58.52 59.39 31 46 30.35 31.16 31.27 44.75 43.90 44.24 44.90 Apr. 2 9 16 23 30 55.61 56.17 56.30 55.83 54.77 59.32 59.98 60.14 59.58 58.32 30.99 30.86 30.87 30.56 30.10 May 7 14 21 28 54.72 54.79 55.53 55.72 58.28 58.35 59.21 59.38 Week ending— Total Industrial Railroad PrePublic ferred utility 6 13. 20 27 70.60 69 24 68 80 68.39 74.65 73 19 72 70 72.25 33.76 33 86 33 88 33.64 63.97 62 75 62 40 62.19 151.0 152 4 152 4 153.1 Feb 3 10 17 24 68.80 70 26 70 53 70.39 72.70 74 33 74 56 74.35 33.96 34 39 34 40 34.11 62.37 63 24 63 95 64.20 153.7 154 6 154 2 155.8 145.7 146.4 146.8 148.4 Mar. 3 10 . . . 17 24 31 69.99 70 02 70 78 70.57 69.84 73.91 73 94 74.78 74.50 73.69 33.75 33 58 33.51 33.40 33.19 64.06 64 09 64 71 64.98 64.42 155 2 156 2 156 8 155.8 156.1 45.35 45.52 45.58 45.59 45.51 148.4 148.8 148.6 148.6 148.4 Apr 7 . . 14 21 28 68.88 68 18 68.09 67.61 72.59 71.76 71.68 71.15 32.66 32.37 32.59 31.89 64.18 64 06 64.15 63.69 156.1 157 5 157.1 158.2 30.03 29.77 30.32 30.63 45.44 45.62 45.76 46.06 148.2 148.2 147.0 146.0 May 5 65.94 64 33 63.88 61.43 69.44 67.77 67.28 64.58 31.72 31.07 30.97 30.31 61.67 59 97 59.59 57.87 158.0 158 3 158.1 157.7 58.15 58.02 55.98 54.47 53 31 61.19 60.88 58.65 57.07 55 85 29.03 28.95 28.19 27.67 27 08 54.31 55 29 53.83 52.31 51 26 154.2 154 6 155.5 155.6 154 2 1962 Jan il::::::::: 19 26 .... June 7 14 21 28 44.49 44.66 45.03 44 72 47.34 47.51 47.94 47 57 25.29 25.42 25.77 25 63 37.23 37.39 37.29 37 28 163.5 164.4 163.7 162 4 June 4 11 18 25 56.02 57.64 57.68 57 36 59.73 61.55 61.54 61 15 29.91 31.02 31.02 30 88 46.45 47.05 47.47 47 54 145.5 148.0 148.1 148 7 June 2 9 16 23 30 Julv 5 12."..".".'. 19 26 45.33 45.48 45.36 46.55 48.26 48.39 48.22 49.62 25.82 25.99 26.63 27.67 37.60 37.93 37.94 37.76 163.2 161.4 160.4 159.0 148.2 148.3 149.1 149.3 149 1 54.90 55.99 55.49 55.26 152.6 152.5 153.0 152.6 158.5 158.5 159.3 156.3 155.8 47.98 48.33 48.34 48.27 47.19 28.24 28.72 28.40 27.90 37.76 37.76 37.60 37.25 37.30 30.92 30.69 30.31 30.16 29.49 58.93 60.12 59.41 59.35 28.04 28.47 28.40 28.20 28.68 60.68 60.77 59.72 58.63 57.68 56.33 57.47 56.81 56.72 50.35 51.08 51.14 50.73 51.12 57.04 57.15 56.28 55.37 54.59 July 7 14 21 28 47.18 47.79 47.83 47.44 47.79 July 2 9 16 23 30 Aug. 6 13 20 27 55.12 . . .. 56.07 56.80 57.68 58.50 59.55 60.25 61.22 29.48 29.93 30 61 30.80 47.45 48.02 48.93 49.61 150 9 151.3 152 3 153.1 Aus 4 11::::::::: 18 25 57.98 57.53 58.44 59.51 60.73 60.22 61.23 62.37 28.07 27.67 27.87 28.37 56.28 56.18 56.76 57.68 153.0 153.1 153.9 155.2 20 27 48.06 48.41 49.22 49.55 51.41 51.80 52.71 53.04 28.71 28.62 29.60 30.45 37.64 37.83 38.06 38.14 154.9 152.8 151.8 152.6 Sept 3 10 17 24 57.07 56.03 55.47 54.14 60.49 59.29 58.65 57.18 30.02 29.40 29.18 28.61 49.72 49.55 49.33 48.44 152.2 150 9 149.8 149 8 Sept. 1 8 15 22 29 58.96 58.36 58.69 58.66 56.36 61.71 61.03 61.45 61.40 58.87 28.43 28.12 28.00 27.61 27.08 57.60 57.34 57.33 57.43 55.82 154.9 155.6 155.5 155.7 156.0 Oct. 4 11 18 25 50.09 51.03 51.17 51.08 53.63 54.68 54.83 54.69 30.82 31.26 30.98 31.19 38.45 38.92 39.13 39.30 150.4 150.6 151.8 151.0 Oct 1 8 15 22 29 52.92 53.50 54.39 54.08 53.02 55.99 56.63 57.61 57.28 56.14 27.54 27.68 27.89 27.88 27.63 46.94 47.27 47.89 47.65 46.68 146.5 147.6 148.1 147.4 147.1 Oct 6 13 20 27 56.30 57.10 56.63 54.58 58.82 59.61 59.10 56.98 26.99 27.40 27.38 27.43 55.78 56.83 56.41 53.89 155.4 156.5 156.3 155.1 AUK 2 9::::::::: 16. 23 30 Sept 6 . IS::::::::: . . . . . 50.96 52 07 52.90 53.10 51.68 54.48 55 72 56.58 56.72 55.15 31.70 32 24 33.08 33.72 33.10 39.65 40 20 40.87 41.27 40.53 150.4 150 5 151.0 151.1 150.2 Dec 6 13 20 27 52 54 53.07 53 83 53.75 56 06 56.64 57 48 57.33 33 54 33.52 33 66 33.76 41.21 41.77 42 24 42.52 150 9 150.0 151 5 151.5 1959_jan. 3 10. 17 24 31 55.08 . . . 55.46 55.70 . . 55.88 55.47 58.82 59.14 59.35 59.57 59.18 34.40 35.21 35.91 36.09 35.08 43.20 43.88 44.20 44.16 43.73 151.7 152.5 155.0 155.0 155.1 Feb. 7 14 21 28 54.95 . . . 54.13 54.77 55.37 58.56 57.62 58.29 58.96 35.07 34.78 35.48 35.52 43.59 43.34 43.80 44.22 154.9 154.7 155.4 155.4 Mar 7 14 21 28 . . 56.19 56.42 56.34 55.87 59.87 60 10 59.98 59.46 35.63 35 78 35.63 35.02 44.84 45.09 45.30 45.16 157.3 156.1 156.1 156.0 Apr 4 11:::: 18 25 55.80 : : : : 56.34 57 09 57.97 59.40 60.00 60 88 61.88 35.00 35.46 36 18 36.48 44.99 45.26 45 24 45.18 May 2 9 16 23 30 57.80 57.44 57 94 58.21 58.31 61.83 61.47 62 08 62.36 62.53 36.19 35.74 35 73 36.27 36.47 13 20 27 58.05 56.97 56.96 57.47 62.37 61.24 61.24 61.74 11 18 25 58.77 59.91 59 43 59 45 54.18 55 62 55.69 55.90 57.46 59 12 59.16 59.31 28.25 28 99 28.94 29.22 47.09 47 49 47.81 48.36 147.6 146 8 146.0 145.7 1962—Nov. 3 10 17 24 56.73 58.54 59.87 60.66 59.36 61.31 62.73 63.52 28.19 29.17 30.38 31.15 55.65 56.59 57.43 58.32 155.8 156.1 157.9 157.5 Dec. 3 10 17 24 31 55.62 55 92 56.89 57 32 57.87 58.97 59 27 60.36 60 80 61.27 29.10 28.78 28.89 29 07 29.50 48.43 48.98 49.62 50.16 51.23 145.7 144 9 144.4 144 4 145.7 Dec. 1 8 15 22 29 61.98 62.69 62.44 62.50 62.89 64.97 65.71 65.38 65.43 65.82 31.86 32.54 31.83 32.10 32.45 59.13 59.83 60.17 60.22 60.67 157.9 157.8 158.4 158.3 158.6 1961—Jan. 7 14 21 28 58.25 59.17 59.67 60.63 61.63 62.60 63.14 64.21 30.31 31.37 32.06 31.64 51.66 52.35 52.55 53.30 146.4 148.1 149.0 148.3 1963—Jan. 5 12 19 26 63.41 64.60 65.06 65.60 66.28 67.49 67.99 68.58 33.89 34.17 33.86 34.13 61.65 63.01 63.41 63.81 159.1 159.8 161.1 163.0 Feb 4 11 18 25 62.03 61.83 . . . 61.77 62.53 65.63 65.35 65.27 66.07 31.90 31.71 32.07 32.63 55.16 55.39 55.39 56.00 149.0 149.6 149.9 150.5 Feb. 2 9 16 23 66.17 66.20 66.10 66.12 69.18 69.26 69.07 69.10 34.47 34.19 34.91 34.92 64.27 64.09 64.35 64.27 163.5 163.4 164.5 164.5 Mar. 4 11 18 25 63.59 63.59 63.88 64.65 67.27 67.34 67.63 68.34 32.81 32.39 32.39 33.72 56.58 56.24 56.75 57.72 150.2 149.9 149.9 150.6 33.47 32.76 32.38 32 09 32.19 57.99 59.29 59.49 59 01 58.58 150.3 150.0 149.8 150 6 149.9 67.77 67.90 68.77 68.87 69.63 34.37 34.72 34.55 34.46 34.77 63.20 63.09 63.38 63.46 63.69 164.0 165.0 164.7 165.0 165.1 Apr. 1 8 15 22 29 68.34 69.37 70.30 69 94 68.96 64.87 64.98 65.72 65.81 66.49 155.8 156.2 154 8 154.1 64.68 65.66 66 42 66 06 65.20 Mar. 2 9 16 23 30 Apr. 6 13 20 27 67.44 68.51 69.05 69.60 70.70 71.91 72.51 7.3.09 35.10 35.64 36.17 37.47 64.14 64.53 64.78 64.90 163.6 163.3 161.4 161.4 44.66 44.35 44 34 44.44 44.05 154.0 152.1 150 7 148.4 147.6 May 6 13 20 27 65.99 66.43 67 11 66.45 69.84 70.29 70 97 70.23 32.65 32.81 33 52 33.36 58.97 59.45 60 20 59.80 150.0 150.9 151 8 151.1 May 4 11 18 25 69.92 69.97 70.33 70.07 73.42 73.49 73.79 73.47 37.58 37.48 38.18 39.00 65.24 65.21 65.84 65.72 162.4 162.8 163.7 164.0 35.86 35.41 35.86 36.55 43.26 42.26 42.00 42.54 147.4 145.8 145.6 145.4 June 3 10 17 24 66 62 66.79 65.76 64.99 70 53 70.74 69.62 68.81 33.03 33.13 32.56 32.01 59.30 59.27 58.59 57.90 151.4 150.8 150.6 149.9 163.8 163.8 163.5 163.0 162.4 37.04 37.69 36 94 36 22 43.36 43.95 44 04 44 48 145.7 146.8 147 8 147 9 Julv 1 8.. : . : : : 15 22 29 64 54 65 61 65.37 64 69 65 85 149*4 148.9 149.3 149 9 149 3 39.49 39.32 38.90 39.30 39.83 63.18 64.44 63 88 63 87 57.63 59.00 59.73 59 09 59 63 73.71 74.14 73.7173.55 73.04 65.40 65.20 64.83 64.90 64.56 31.70 32.48 31.94 31 02 31 67 70.25 70.58 70.17 70.06 69.62 68 32 69.38 69.01 68 33 69 62 June 1 8 15 22 29 July 6 13 20 . . 27 69.62 69.81 68.82 68.18 73.04 73.27 72.16 71.48 39.73 64.57 39.55 "64.70 38.92 64.28 37.46 64.11 161.5 161.5 160.6 161.4 60.39 60.35 59.14 58.86 59.21 64.99 64.89 63.44 63.10 63.50 36.47 36.18 35.26 35.25 35.54 44.62 44.98 45.17 45.12 45.27 147.6 147.3 148.9 149.3 150.4 Aug. 5 12 19 26 67.21 67.85 67.86 68.02 71.17 71.83 71.83 71.86 31.97 32.45 32.80 33.30 60.24 60.87 61.02 61.73 149.5 149.7 149.0 149.3 69.08 70.07 71.06 71.48 72.03 72.43 73.50 74.52 74.93 75.56 38.06 38.64 39.23 39.76 39.66 64.96 65.61 66.64 67.19 67.41 58.84 57.35 56 58 55.95 63.10 61.49 60 71 60.05 34.95 33.88 33 41 33.11 45.06 44.13 43 19 42.58 148.5 148.0 145 3 143.7 Sept 2 9 16 23 30 67 86 68.16 67.69 66 91 66.27 71.62 71.94 71.39 70 47 69.75 62.17 62.47 62.32 62 18 61.77 148.9 148.8 148.7 149 1 150.5 161.8 162.2 162.6 163.0 163.1 SeDt 5 12::::.:*:: 19 26 33.16 33.12 33.06 32 97 32.87 Aug. 3 8 10 17 24 31 Sept. 7 14!.... 21 28 72.79 73.02 73.10 72.71 76.43 76.77 76.93 76.57 39.49 39.02 39.09 38.69 67.77 67.53 67.09 66.39 162.6 162.8 162.8 163.3 Oct 3 10 17 24 31 57 14 57.00 57.08 56 56 57.35 61 29 61.04 61.11 60 49 61.48 34 28 34.42 34.50 34 24 34.00 43 56 44.06 44.21 44 17 44.08 144 4 145.4 145.7 145 1 146.1 Oct 7 14 21 28 67 28 68.08 68 1? 68 23 70 71 71.51 71 60 71 64 34 11 34.98 34 78 34 39 63 24 64.11 64.25 64 66 151 4 151.3 151.8 152 1 Oct. 5 12 19 26 72.38 72.39 72.85 73.33 76.25 76.31 76.88 77.46 38.37 38.17 38.42 38.58 66.13 65.63 65.45 65.42 164.2 165.2 164.1 164.5 Nov 7 14 21 28 57.40 57.30 56 70 57.39 61.62 61.50 60 87 61.69 33.32 33.06 32 40 32.41 43.82 43.88 43 46 43.68 145.2 146.2 145 0 145.8 68.87 70.68 71.56 71 74 72.33 74.28 75.21 75 46 34.22 34.40 34.59 34 25 65.29 66.92 67.76 67 77 152.3 152.6 152.9 152 8 78.45 77.35 77.17 75.37 76.73 38.00 38.31 39.04 38.35 38.73 65.25 64.92 65.05 64.66 64.41 164.7 164.2 163.7 163.2 163.1 Dec 5 . . . . 12 19 25 . 58.63 59.03 58 98 59.09 63.11 63.53 63 47 63.58 33.14 33.56 33 75 33.68 44.01 44.32 44 29 44.36 146.1 145.4 144 0 143.2 71.68 71.93 72.31 71 18 71.48 75.46 75.89 76.36 75 28 75.70 33.90 33.67 33.36 32 57 33.05 153.0 152.0 150.9 150 1 150.8 74.12 73.17 73.07 71.50 72.62 67.30 66.60 66.62 64 94 64.39 Nov. 2 9 16 23 30 Dec. 7 14 21 28 73.87 73.96 74.47 74.14 78.11 78.13 78.68 78.32 39.13 39.84 40.48 40.03 65.18 65.65 65.88 65.65 162.7 162.4 162.2 161.2 [958 Nov 1 . . . 8 15 22 29 Aug. 1 8 15 22 29 . . . . I960 Nov. 5 12 19 26 . Nov. 4 11 18 25 Dec 2 9 16 23 30 . . . . . 15. COMMON STOCK PRICE INDEXES: SECURITIES AND EXCHANGE COMMISSION A. ANNUALLY, 1939-63; MONTHLY, 1939-MAY 1964 [1957-59 = 100] i Mi inufacturing Period Manufacturing Total Total Durable Nondurable Transportation Public utility Trade, finance, Mining and service 1939 26.8 21.2 22.3 20.3 33.8 55.4 29.3 29.3 1940 1941 1942 1943 1944 25.3 23.0 20.1 26.6 29.0 19.8 18.0 16.0 21.0 22.7 20.6 18.2 16.4 21.1 23.4 19.1 17.9 15.7 21.0 22.2 33.5 32.6 30.7 42.3 47.6 55.4 49.4 38.7 50.2 54.9 26.5 24.1 20.9 29.6 34.4 22.1 20.8 17.5 24.4 27.3 1945 1946 1947 1948 1949 35.2 40.1 35.1 35.6 34.3 27.4 31.1 28.1 29.1 28.1 28.8 30.9 26.8 27.7 25.9 26.3 31.4 29.4 30.2 29.9 64.2 68.4 50.4 53.4 46.0 62.6 67.1 58.5 55.0 54.4 43.8 59.9 47.8 46.0 47.1 33.5 36.7 34.3 38.9 37.9 1950 1951 1952 1953 1954 41.4 49.6 52.3 51.9 61.7 35.2 43.9 46.8 46.7 57.6 33.5 39.8 42.1 43.0 54.7 36.6 47.4 50.7 49.8 60.0 54.1 67.3 74.6 73.9 78.6 60.4 62.4 65.4 67.3 75.3 53.9 61.0 60.4 60.8 69.1 42.0 60.0 80.7 70.4 78.2 1955 1956 1957 1958 1959 81.8 92.6 89.8 93.2 116.7 79.5 93.2 90.7 92.5 116.5 78.7 91.5 88.5 90.4 120.8 80.1 94.5 92.8 94.4 112.6 108.2 110.6 93.2 91.0 115.6 84.8 86.4 86.3 95.8 117.6 87.1 89.9 82.2 95.1 122.3 91.6 104.6 107.2 97.9 95.0 1960 1961 1962 1963 113.9 134.2 127.1 142.3 110.9 126.7 118.0 133.3 117.3 129.2 116.5 129.3 104.9 124.4 119.4 137.1 95.8 105.7 97.8 122.5 129.3 168.4 167.2 180.5 127.4 160.2 155.0 169.3 73.8 92.5 98.0 123.5 May. June. July. Aug., Sept. Oct.. Nov. Dec.. 27.4 27.4 27.5 24.3 25.2 25.8 26.0 25.8 28.1 28.6 28.5 27.8 22.0 21.9 21.8 19.0 19.7 20.1 20.2 20.1 22.6 22.9 22.7 22.1 23.3 23.4 23.3 19.4 20.2 20.6 20.9 20.9 24.0 24.6 24.2 23.5 20.8 20.6 20.6 18.8 19.3 19.6 19.6 19.4 21.5 21.5 21.3 20.9 35.1 33.6 35.4 29.2 30.7 31.2 31.3 30.9 36.0 38.9 37.8 36.2 53.1 54.9 56.0 52.5 54.9 55.9 56.2 56.6 54.9 56.2 57.4 57.5 29.3 30.0 30.1 26.8 28.5 30.0 30.5 30.0 28.6 29.7 30.0 29.2 31.2 30.5 31.1 28.3 29.4 30.0 29.7 29.3 28.3 28.2 28.0 27.1 1940—Jan.. Feb., Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 27.6 27.7 27.7 28.1 24.7 22.5 23.0 23.6 24.5 24.7 25.3 24.5 21.9 21.9 21.9 22.2 19.5 17.5 17.8 18.4 19.1 19.3 19.8 19.1 22.7 22.7 22.6 23.0 19.8 17.7 17.9 18.9 20.0 20.6 21.5 20.7 21.2 21.2 21.3 21.6 19.3 17.4 17.7 17.9 18.4 18.2 18.3 17.8 35.5 35.5 35.8 37.0 31.6 29.1 30.8 31.6 33.5 34.3 35.1 33.2 58.1 58.5 58.4 59.0 54.1 51.7 53.9 54.1 54.5 54.3 54.6 54.2 29.3 29.5 29.6 29.9 25.4 22.9 24.1 24.8 25.9 26.1 26.1 25.3 27.2 26.5 25.3 25.6 21.4 18.2 18.2 18.4 20.4 20.7 22.8 21.8 1939—Jan.. Feb.. Mar. Month Total Total Durable Nondurable Transportation Public utility Trade, finance, Mining and service 1946—Jan.. Feb.. Mar. Apr.. May. June. July. Aug., Sept. Oct.. Nov. Dec. 41.5 42.4 41.0 43.5 44.0 43.7 42.5 41.5 36.0 34.8 34.6 35.7 32.1 32.8 31.5 33.6 34.1 34.0 33.2 32.5 27.9 27.1 27.0 28.0 33.7 35.0 32.7 33.9 33.9 33.9 32.6 31.5 26.8 25.4 25.4 26.5 30.7 30.8 30.5 33.4 34.4 34.1 33.7 33.4 29.0 28.6 28.5 29.4 77.0 78.0 74.1 75.0 74.7 76.0 72.5 69.8 58.1 53.7 55.2 56.7 69.8 70.5 69.1 70.6 71.2 71.7 70.5 68.8 62.5 60.1 59.5 60.5 58.4 62.3 62.1 68.9 70.3 65.1 61.6 60.9 54.3 52.4 51.1 51.1 39.7 40.2 38.5 40.2 40.3 39.8 38.5 37.7 31.9 30.8 31.1 32.0 1947—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 35.6 37.0 35.2 33.8 33.1 34.4 36.4 35.7 34.8 35.8 35.2 34.8 28.0 29.2 27.8 26.8 26.3 27.5 29.4 28.7 28.0 29.0 28.7 28.4 26.7 28.7 27.1 25.8 25.0 25.7 27.5 26.9 26.2 27.5 27.3 27.0 29.1 29.7 28.5 27.8 27.6 29.2 30.9 30.3 29.6 30.2 30.0 29.7 54.1 56.9 52.5 49.6 46.8 47.6 52.0 50.6 48.7 50.0 47.9 48.7 62.2 62.7 60.7 59.2 58.3 57.4 58.3 57.8 58.0 57.8 55.5 53.9 49.8 51.6 48.3 45.7 44.2 47.4 51.2 49.2 46.6 47.6 46.9 45.4 32.3 33.9 33.5 32.8 32.8 34.2 36.0 35.4 34.5 35.1 34.9 36.4 1948—Jan.. Feb.. Mar. Apr.. May. June, July. Aug. Sept. Oct.. Nov. Dec 34.6 32.5 33.3 35.5 37.4 38.6 37.6 36.4 35.9 36.4 34.2 34.2 28.1 26.2 26.9 28.8 30.4 31.7 30.9 29.9 29.3 29.9 27.9 28.0 26.8 24.8 25.6 27.5 28.9 30.2 29.4 28.7 28.4 29.0 26.8 26.7 29.3 27.5 28.1 30.0 31.7 33.0 32.2 31.0 30.1 30.8 28.9 29.2 51.0 48.3 50.0 54.0 57.0 57.8 56.8 55.2 55.4 55.3 50.2 49.6 54.7 53.4 53.8 54.8 56.8 57.1 56.5 55.5 55.5 55.3 53.7 53.3 44.1 41.4 42.6 46.3 49.5 49.7 47.6 46.2 46.4 47.0 45.4 45.3 37.9 35.7 37.7 40.8 43.8 43.4 41.7 39.0 37.4 38.6 34.6 35.7 1949_j an .. Feb., Mar. Apr., May, June July. Aug. Sept. Oct.. Nov. Dec. 34.6 33.0 33.6 33.5 33.2 31.5 33.0 34.4 34.8 35.6 36.4 37.3 28.3 26.8 27.4 27.3 26.9 25.4 26.8 28.1 28.5 29.4 30.2 31.0 27.0 25.4 25.8 25.3 24.7 23.2 24.7 25.7 25.7 26.7 27.7 28.6 29.5 28.0 28.8 29.0 28.8 27.4 28.7 30.2 31.0 31.7 32.4 33.0 49.9 46.2 46.2 46.4 45.7 42.6 43.5 45.4 45.3 46.2 46.5 47.9 53.4 53.3 53.8 53.8 53.1 52.0 52.8 51.9 55.3 55.7 56.6 57.7 45.8 43.9 44.8 45.5 46.0 44.1 46.8 48.5 48.7 49.4 49.8 51.3 37.1 34.7 36.3 38.6 38.0 35.7 35.7 37.9 39.0 40.7 40.2 39.8 1950—Jan.. Feb. Mar. Apr. May June 37.8 38.5 39.0 40.0 41.5 41.9 31.4 32.1 32.4 33.5 35.1 35.8 29.6 30.7 30.8 31.9 33.3 34.3 33.0 33.3 33.7 34.9 36.6 37.1 50.5 51.1 51.4 51.2 51.6 49.8 58.6 59.7 62.1 62.5 63.7 62.8 52.0 52.5 52.6 52.3 53.0 52.9 39.2 38.9 38.9 39.2 41.7 41.1 1941—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 24.6 23.0 23.0 22.4 22.1 22.9 23.9 23.9 23.9 23.2 22.3 20.8 19.2 17.8 17.8 17.3 17.2 17.9 18.9 18.9 18.9 18.2 17.6 16.7 20.5 18.7 18.8 17.8 17.3 18.1 18.9 18.8 18.9 18.0 16.9 15.9 18.1 16.9 17.0 16.9 17.1 17.8 18.9 18.9 18.9 18.5 18.2 17.4 34.6 32.5 32.8 32.8 32.4 32.3 33.6 34.1 33.3 32.8 31.7 28.3 54.4 52.3 52.3 50.6 48.1 49.9 50.1 49.4 49.4 48.5 46.4 41.4 25.8 24.1 24.0 23.3 22.9 23.8 24.6 24.9 25.6 24.8 23.5 21.3 22.0 20.5 20.4 20.3 20.6 21.2 22.4 22.1 22.0 21.0 19.5 17.7 1942—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 20.8 20.2 18.8 18.3 18.4 19.3 19.9 19.9 20.1 21.5 22.0 22.1 16.5 15.9 15.0 14.6 14.7 15.4 16.0 15.9 16.0 17.2 17.5 17.7 16.5 16.3 15.8 15.4 15.2 15.9 16.4 16.2 16.3 17.7 17.7 17.7 16.6 15.6 14.2 13.9 14.2 15.0 15.6 15.6 15.7 16.9 17.3 17.7 31.6 31.6 29.1 27.6 27.7 27.3 29.3 30.4 31.2 34.4 34.4 33.2 40.7 40.2 37.4 35.9 36.3 37.3 37.0 37.4 38.0 40.4 42.1 41.5 21.3 20.7 19.2 18.5 18.9 20.4 21.1 21.4 21.5 21.9 22.9 23.3 18.4 18.2 16.0 15.1 15.8 17.4 17.9 17.6 17.9 17.7 18.8 19.1 1943—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 23.3 24.7 25.5 26.2 27.4 28.1 28.4 27.2 27.8 27.5 26.4 26.8 18.7 19.9 20.4 20.9 21.7 22.3 22.4 21.3 21.6 21.6 20.6 21.0 18.8 20.1 20.8 21.2 22.0 22.6 22.6 21.1 21.7 21.5 20.4 20.9 18.7 19.7 20.1 20.6 21.5 22.1 22.4 21.6 22.0 21.7 20.9 21.2 35.4 37.2 40.7 43.5 45.7 44.9 46.2 43.2 44.3 44.0 40.9 41.2 43.5 45.7 46.8 47.9 50.9 51.5 52.9 52.0 53.2 52 9 52.0 52.2 24.1 25.6 26.8 28.3 29.8 31.5 32.4 31.3 32.5 31.5 30.2 31.3 20.8 22.3 23.7 25.0 25.1 25.1 25.4 24.7 26.1 25.7 24.3 25.1 1944—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 27.5 27.3 28.0 27.7 28.0 29.3 30.1 29.8 29.4 30.1 29.9 30.6 21.6 21.3 21.9 21.6 22.0 23.0 23.7 23.4 23.0 23.6 23.3 23.8 21.7 21.4 22.2 22.0 22.3 23.7 24.5 24.3 24.1 24.6 24.2 24.8 21.5 21.2 21.7 21.4 21.7 22.5 23.0 22.7 22.1 22.6 22.6 22.9 43.6 45.3 46.5 45.7 45.9 47.1 48.8 48.3 46.9 48.9 49.3 53.6 52.7 53.0 53.5 53.2 53.4 54.7 56.0 56.2 55.8 56.4 56.4 56.7 32.0 31.5 32.8 32.2 32.5 34.3 35.2 35.4 35.4 36.6 36.7 37.6 26.1 25.3 26.0 26.2 26.5 27.8 29.4 28.8 27.7 27.8 27.5 28.2 1945_jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 31.5 32.3 32.3 33.3 34.4 34.8 34.1 34.5 36.6 38.4 39.4 40.5 24.6 25.4 25.4 26.1 27.0 27.0 26.3 26.8 28.4 30.0 30.5 31.4 25.5 26.5 26.4 27.3 28.3 28.5 27.7 28.5 30.5 31.5 31.7 33.0 23.8 24.4 24.5 25.1 25.8 25.7 25.0 25.3 27.1 28.7 29.5 30.1 56.0 56.8 57.3 59.9 63.0 66.5 64.7 62.3 64.9 69.4 72.8 75.7 57.0 57.5 57.8 58.8 60.1 62.2 63.5 63.6 65.1 66.4 69.1 69.0 37.6 38.5 38.6 39.9 41.6 43.0 41.5 43.0 45.9 48.8 51.9 54.6 30.3 32.0 31.9 32.1 32.5 32.8 32.1 31.4 32.7 35.1 38.0 39.9 1950—July. Aug., Sept. Oct.. Nov. Dec. 39.3 41.4 42.8 44.3 44.5 44.3 33.5 35.6 36.8 38.3 38.6 38.3 31.7 33.9 35.2 37.1 37.1 36.1 35.0 37.0 38.2 39.3 39.9 40.2 51.6 55.6 56.9 57.9 57.8 62.3 58.2 58.7 59.4 59.8 59.5 59.0 49.8 51.8 55.1 58.2 58.9 57.4 39.4 42.9 44.0 45.2 46.1 46.7 1951—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 47.5 49.4 48.3 49.1 48.7 48.0 48.8 51.0 52.2 51.4 49.7 51.1 41.3 43.1 42.1 43.3 43.1 42.5 43.5 45.7 46.9 45.9 44.1 45.6 39.0 40.5 39.8 40.4 39.2 37.7 38.1 40.0 41.5 41.4 40.0 40.8 43.2 45.3 44.1 45.7 46.3 46.5 48.0 50.6 51.4 49.6 47.7 49.7 68.3 72.0 67.6 68.2 66.5 63.6 63.5 66.1 68.8 68.7 65.6 68.8 61.1 62.1 62.6 61.7 61.2 60.9 61.6 63.2 63.7 63.5 63.2 63.9 60.2 62.6 61.5 61.0 60.4 58.9 59.3 60.4 63.0 62.8 61.0 61.3 51.5 53.9 51.7 53.7 54.9 54.4 57.1 64.0 67.6 71.3 69.9 69.7 1952—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec 52.6 52.0 51.8 51.3 51.1 52.6 53.3 53.3 52.1 51.1 52.8 54.6 47.2 46.5 46.0 45.6 45.4 47.1 47.9 47.8 46.6 45.6 47.3 49.0 41.5 40.8 40.7 40.6 40.6 41.8 42.8 43.4 42.6 42.0 43.8 45.7 51.9 51.1 50.6 49.8 49.4 51.5 52.1 51.6 49.9 48.6 50.2 51.8 71.2 70.5 72.3 73.4 73.0 75.9 76.5 77.0 74.8 74.0 76.1 80.3 64.6 64.9 64.7 64.4 64.7 64.7 64.7 65.7 65.6 65.2 67.2 68.3 61.6 60.7 59.8 59.5 59.1 59.8 61.1 61.5 60.5 59.3 60.4 62.4 71.9 75.5 86.3 87.3 82.9 85.0 84.5 81.4 80.4 77.4 76.1 78.1 1953—Jan.. Feb., Mar. Apr., May, June, July. Aug. Sept. Oct.. Nov. Dec 54.9 54.2 54.7 52.0 52.1 50.3 51.1 51.0 48.6 50.2 51.3 51.9 49.4 48.6 49.3 46.8 46.9 45.2 46.0 46.0 43.5 45.3 46.5 47.1 46.4 45.4 46.2 43.3 43.7 41.7 42.0 41.5 39.1 41.2 42.5 42.9 51.9 51.1 51.9 49.7 49.5 48.0 49.4 49.7 47.2 48.8 49.7 50.6 80.8 79.4 80.5 75.4 76.3 74.1 75.4 73.4 67.2 68.4 68.9 67.6 68.8 68.9 68.9 66.7 66.5 64.6 65.9 66.9 65.9 67.3 68.3 69.0 62.3 61.9 62.5 60.9 61.4 59.9 60.4 60.5 58.1 59.0 60.7 61.4 76.5 74.9 76.9 73.8 72.3 69.5 69.3 69.2 64.2 64.0 67.7 67.2 1954_jan.. Feb. Mar. Apr. May June July. Aug. Sept. Oct., Nov. Dec 53.3 54.5 55.6 57.9 59.9 60.1 62.5 63.6 64.5 65.4 68.3 71.9 48.5 49.7 50.9 53.7 55.8 55.9 58.5 59.5 60.7 61.9 64.8 68.5 44.4 45.6 46.8 49.8 51.9 52.8 56.8 57.4 58.1 59.7 63.5 66.6 51.9 53.1 54.4 57.0 59.1 58.5 59.8 61.2 62.7 63.6 65.8 70.1 69.7 72.5 71.8 71.5 74.6 76.2 78.9 80.1 79.8 81.3 87.7 96.3 69.9 71.2 72.3 73.1 74.4 74.4 76.8 78.0 77.5 76.6 78.3 79.9 62.5 63.4 63.0 64.5 66.2 67.0 69.2 71.3 72.5 72.9 76.4 78.5 69.8 73.3 75.9 77.8 78.9 77.9 75.3 76.9 78.4 78.9 81.3 90.8 1955_jan.. Feb. Mar. Apr. May June 72.6 75.4 75.0 77.0 77.6 81.3 69.3 72.2 71.6 73.7 74.3 78.6 68.5 71.4 71.0 72.9 72.4 76.9 69.9 72.8 71.9 74.2 75.7 79.9 97.4 101.5 103.2 108.3 110.2 113.7 80.5 83.1 83.6 84.3 85.1 85.5 79.2 81.0 80.6 81.4 82.3 86.3 92.0 92.1 92.2 91.1 88.6 91.8 15. COMMON STOCK PRICE INDEXES: SECURITIES AND EXCHANGE COMMISSION — Continued A. ANNUALLY, 1939-63; MONTHLY, 1939-MAY 1964 — Continued [1957-59 = 100] I Manufacturing Month Total Total Durable TransportaNondu-! tion rable Public utility Manufacturing Trade, finance, Mining i and service 1955 -July Aug Sept Oct NOv Dec 85.6 84.6 87.7 83.3 88.1 89.5 83.8 82.8 86.5 81.8 87.2 88.9 81.7 82.1 86.4 81.5 86.9 88.4 85.5 83.3 86.4 81.9 87.4 89.2 112.9 109.4 112.0 104.5 109.8 112.1 86.6 86.6 86.1 83.6 85.5 85.5 89.3 88.7 93.8 90.1 95.3 94.8 NOv Dec 87.4 88.6 94.2 95.4 93.1 91.6 96.5 96.5 92.5 91.7 90.9 92.3 86.6 87.8 94.2 96.1 93.6 92.1 97.6 97.6 93.5 92.8 91.6 93.8 84.5 85.4 92.0 91.6 88.7 87.7 93.9 96.5 94.2 94.1 93.1 94.8 88.3 89.6 95.9 99.7 97.6 95.6 100.7 98.4 92.9 91.6 90.4 92.9 108.2 109.1 116.1 i 117.6 115.6 110.9 113.2 111.2 105.8 107.4 105.1 106.5 85.3 86.5 88.5 87.2 86.2 85.9 88.0 88.6 86.1 84.4 84.7 84.4 90.9 90.8 94.4 92.9 89.7 87.9 92.3 91.7 88.5 87.7 86.8 84.2 96.7 102.5 109.1 108.1 106.6 103.1 107.9 109.2 102.2 98.7 104.0 106.0 1957_jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 90.7 87.5 88.5 91.6 95.5 96.6 98.9 93.3 89.0 83.1 82.0 81.1 91.3 87.3 88.5 92.2 96.7 98.6 101.6 95.1 90.2 83.5 82.3 81.1 90.9 86.7 87.1 90.9 94.9 96.0 99.4 92.4 87.2 80.6 79.3 76.5 104.9 91.6 98.8 87.9 97.2 89.8 98.5 93.4 ! 98.4 100.8 101.0 99.5 103.7 102.6 97.6 96.7 93.0 89.3 86.1 81.2 85.1 I 76.5 85.3 ! 72.2 86.8 87.3 87.7 88.7 90.2 88.2 87.6 85.7 84.1 82.3 82.6 83.9 83.6 82.0 83.1 83.6 85.1 84.1 85.4 82.9 81.7 78.8 77.8 77.6 107.9 102.8 106.4 110.2 122.0 125.5 125.9 114.7 106.2 91.6 86.8 85.6 1958-Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 83.0 83.1 85.1 85.2 88.1 90.2 92.4 95.8 98.4 103.0 106.3 108.1 82.5 82.1 84.3 83.9 86.8 89.0 91.4 95.4 98.1 103.1 106.2 107.4 79.0 79.3 81.4 79.9 83.3 85.5 88.6 93.7 97.3 103.4 105.9 107.8 85.7 ! 77.2 84.6 I 77.8 87.0 j 77.4 87.6 1 78.2 90.0 83.8 92.3 87.4 94.0 90.8 97.0 95.5 98.8 99.1 102.9 104.9 106.6 110.0 107.1 110.7 87.1 88.7 89.4 91.7 93.6 94.8 95.8 96.1 98.1 101.3 104.7 109.5 81.3 84.3 86.4 87.0 91.6 92.9 94.3 98.4 101.5 104.2 108.7 112.2 85.7 84.2 89.0 89.7 95.5 99.3 101.9 105.8 105.4 107.2 107.2 103.6 1959—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 112.5 111.1 113.9 115.8 117.7 116.7 121.3 120.7 116.3 116.3 116.5 120.5 111.3 109.0 112.1 114.1 117.2 116.8 122.0 121.3 116.7 116.5 117.2 122.1 113.1 111.1 113.6 116.1 119.9 121.7 128.5 126.2 122.7 122.7 122.8 128.8 109.7 107.2 110.7 112.3 114.8 112.3 116.1 116.9 111.3 110.8 112.2 115.9 117.0 118.1 120.7 123.1 120.2 115.6 118.5 119.1 114.6 115.8 114.4 115.1 116.0 118.2 119.8 119.5 120.4 122.0 126.1 125.0 123.5 124.0 125.2 127.0 106.0 103.4 102.9 103.3 98.8 94.2 95.0 95.9 90.3 84.1 82.1 85.8 Oct 1 For http://fraser.stlouisfed.org/ note see p. 130. Federal Reserve Bank of St. Louis 117.5 117.6 118.7 120.3 119.6 119.2 120.7 116.1 110.6 112.0 106.6 107.6 Total Total 92.8 91.1 92.8 86.1 91.5 95.5 1956—Jan Feb Mar Apr May June July Aug Sept Month Durable Nondurable Transi Trade, porta- j Public I finance, Mining tion | utility j and service I960—Jan.. , Feb.. Mar.. Apr.. May. June. July. . Aug.. Sept.. Oct.. Nov.. Dec. 117.6 114.1 112.1 113.5 113.2 117.0 114.5 115.6 112.1 109.1 112.6 115.2 117.5 112.8 109.9 111.0 110.7 114.6 111.2 112.2 107.6 104.9 108.5 110.3 124.3 119.1 115.8 118.3 118.7 123.4 119.0 119.8 114.1 109.4 113.0 114.5 111.2 107.0 104,5 104.3 103.3 106.6 104.0 105.1 101.7 100.8 104.5 106.4 106.4 103.0 97.4 96.5 95.8 97.1 95.7 96.1 91.5 88.0 91.7 92.6 120.0 122.3 124.0 127.1 126.4 129.8 131.0 132.6 134.2 130.5 132.0 138.5 125.6 121.9 122.2 125.3 125.8 132.1 131.0 131.8 127.2 122.8 129.3 132.4 83.3 78.5 75.7 73.4 70.9 70.3 68.6 71.6 70.1 71.8 74.1 78.2 1961—Jan... Feb.. Mar.. Apr.. May. June. July. . Aug.. Sept.. Oct.. Nov.. Dec. 120.9 125.4 129.8 133.0 134.9 132.8 132.7 137.4 136.2 138.0 144.0 145.8 115.3 119.2 123.9 125.8 126.7 126.0' 125.2 130.1 128.9 129.1 133.7 135.6 118.6 121.4 127.8 128.5 130.6 128.0 126.5 131.3 131.7 132.2 135.7 138.1 112.2 117.3 120.3 123.3 124.9 124.2 123.9 129.0 126.4 126.4 131.9 133.3 100.3 102.6 104.2 103.4 107.5 105.1 103.3 107.0 106.8 110.1 109.9 107.9 148.7 156.0 159.2 168.9 170.0 164.0 166.7 170.6 168.9 173.9 186.0 188.4 134.8 139.8 146.7 150.4 153.1 156.0 158.5 164.2 166.4 176.6 187.7 188.0 85.1 89.0 89.2 93.5 96.9 97.0 93.1 92.8 87.3 90.3 95.1 101.1 1962—Jan... Feb.. Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. 140.4 142.8 142.9 138.0 128.3 114.3 116.0 119.5 117.9 114.3 122.8 128.0 130.8 133.4 133.5 128.2 119.0 105.7 106.9 110.4 108.9 105.6 114.0 119.1 133.6 134.4 134.0 128.0 117.5 103.2 104.4 109.1 106.2 102.5 110.7 114.0 128.1 132.6 133.1 128.5 120.6 108.4 109.2 111.7 111.5 108.4 117.3 123.8 108.5 110.5 107.4 103.1 98.5 90.2 90.0 90.6 88.5 86.6 97.2 102.3 181.4 183.0 184.2 180.3 167.1 151.1 156.7 160.7 158.2 154.3 162.0 167.9 175.2 176.4 175.2 172.0 161.6 141.3 139.4 143.6 141.6 135.9 145.4 151.8 104.1 109.7 106.6 103.9 97.5 88.3 90.9 92.7 92.3 91.3 97.7 101.5 1963—Jan.. . Feb... Mar.. Apr.., May. June. July.. Aug.. Sept.. Oct.. , Nov.. Dec. 132.6 135.0 133.7 140.7 143.2 142.5 140.7 144.6 148.2 148.7 147.3 151.1 123.6 125.5 124.5 132.0 134.3 133.7 131.8 135.6 139.4 139.9 138.0 141.4 119.2 121.0 118.7 126.9 130.7 130.8 126.6 130.4 135.5 138.0 136.6 137.7 127.7 129.7 129.9 136.9 137.7 136.7 136.7 140.5 143.2 141.6 139.4 145.0 107.3 110.3 109.3 116.3 124.2 127.2 125.8 128.8 128.0 128.2 129.5 134.9 173.0 177.5 174.5 179.2 180.6 178.0 176.7 180.9 182.9 184.8 186.4 191.3 155.8 158.4 158.6 164.8 170.0 170.6 168.5 173.1 179.7 179.9 174.9 176.5 106.8 109.3 111.5 120.1 123.2 125.2 127.3 132.3 132.9 130.0 127.9 135.2 155.7 158.3 160.9 163.0 164.4 146.3 149.0 152.8 154.9 156.0 142.9 144.7 150.9 151.8 152.2 149.7 153.0 154.8 158.0 159.7 140.4 145.2 150.4 153.2 158.0 196.0 197.3 194.5 195.7 195.7 178.3 182.1 185.3 189.2 194.6 140.2 143.4 143.0 149.3 160.7 1964—Jan Feb Mar | Apr May* I 15. COMMON STOCK PRICE INDEXES: SECURITIES AND EXCHANGE COMMISSION — Continued B. WEEKLY, 1939-MAY 1964 [1957-59= 100] Manufacturing Week ending— Total TransportaNondution rable Public utility Trade, finance, Mining and service Manufacturing Week ending— Total Transportation Public utility Trade, finance, Mining and service Total Durable 28.3 27.8 27.5 26.1 22.8 22.3 22.0 20.8 24.5 23.9 23.3 21.6 21.3 20.9 20.8 20.1 37.0 36.3 34.7 32.2 52.9 53.2 53.8 52.4 30.1 29.7 29.6 28.0 32.0 31.6 31.4 29.9 1940—Jan. 6 . . . 13... 20... 27... 28.4 27.3 27.4 27.5 22.6 21.5 21.6 21.7 23.7 22.4 22.3 22.5 21.6 20.9 21.1 21.1 37.1 34.9 34.8 35.1 58.3 57.6 58.3 58.2 30.0 28.9 29.1 29.2 27.6 27.2 26.9 26.9 Feb. 4 11 18 25 27.3 27.2 27.5 27.8 21.8 21.9 21.9 22.1 23.1 23.3 23.4 23.8 20.6 20.6 20.6 20.6 34.3 30.3 34.6 35.3 54.5 54.7 55.1 55.4 29.7 29.6 30.0 30.5 30.5 30.3 30.6 30.7 Feb. 3 . . . 10... 17... 24... 27.3 27.9 27.9 27.6 21.6 22.1 22.1 21.8 22.3 23.0 23.0 22.6 20.9 21.3 21.4 21.1 34.9 35.9 35.9 35.2 58.4 58.5 58.5 58.5 29.2 29.7 29.6 29.4 26.5 26.5 26.6 26.3 Mar. 4 11........ 18 25 28.3 28.7 26.6 26.7 22.5 22.7 21.0 21.1 24.3 24.5 22.2 22.1 20.8 21.2 20.1 20.2 37.3 37.4 33.3 33.7 56.0 58.5 54.4 54.8 30.7 31.3 29.2 29.0 31.6 32.1 30.3 30.3 25.0 23.0 24.6 24.5 24.4 19.6 17.9 19.3 19.2 19.1 20.3 18.1 19.8 19.5 19.4 19.1 17.8 19.0 19.0 18.9 30.9 27.1 29.7 29.2 29.1 53.0 50.8 52.7 53.1 53.3 27.7 25.3 27.4 26.8 27.0 28.9 27.2 28.5 28.6 28.6 27.5 27.9 27.3 27.6 28.0 21.7 22.0 21.6 21.9 22.1 22.5 22.8 22.1 22.6 22.9 21.1 21.3 21.1 21.2 21.5 35.3 36.2 34.9 35.8 36.7 58.3 59.0 58.1 58.2 58.5 29.4 29.7 29.4 29.8 29.9 25.4 25.3 25.1 25.3 25.5 Apr. 1 8 15 22 29 Mar. 2 . . . 9... 16... 23... 30... Apr. 6 . . . 13... 20... 27... 28.7 28.2 27.8 27.8 22.7 22.3 22.0 22.0 23.7 23.2 22.6 22.5 21.8 21.6 21.4 21.5 38.3 36.9 36.4 36.2 59.6 58.9 58.9 58.6 30.6 30.0 29.5 29.4 26.2 25.7 25.3 25.1 May 6 13 20 27 25.1 25.1 24.9 25.8 19.6 19.6 19.3 20.1 20.1 20.0 19.7 20.8 19.3 19.2 19.0 19.5 30.3 30.6 30.2 31.7 54.0 54.9 54.9 56.0 27.9 28.4 28.2 29.7 29.2 29.6 29.0 29.7 May 4 . . . 11... 18... 25... 27.7 27.1 22.7 21.5 21.9 21.5 17.9 16.7 22.4 22.0 17.9 16.8 21.5 21.1 17.9 16.8 36.2 35.0 28.2 27.1 58.8 57.6 50.6 49.3 29.0 28.0 22.6 22.0 24.8 24.0 19.2 17.6 June 3 10 17 24 25.8 26.3 25.4 25.7 20.1 20.5 19.8 20.0 20.7 21.0 20.2 20.4 19.5 20.0 19.4 19.6 31.6 31.7 30.7 30.9 55.9 57.3 54.7 55.5 29.8 30.4 29.7 30.2 29.8 30.4 29.8 30.1 July 1 8 15 22 29 24.6 25.0 25.9 27.2 27.0 19.1 19.4 20.2 21.3 21.1 19.3 19.7 20.8 22.5 22.1 19.0 19.2 19.6 20.2 20.2 54.1 55.0 56.4 57.6 57.8 29.1 29.5 30.5 31.7 31.4 28.6 29.8 29.9 30.2 30.0 21.6 21.7 23.1 23.0 23.0 16.8 16.9 18.1 17.9 17.8 16.9 16.9 18.5 18.1 17.9 16.7 16.9 17.8 17.7 17.6 27.2 27.7 29.2 30.2 30.9 49.7 49.9 52.1 52.7 53.9 21.9 21.9 23.4 23.8 23.9 18.0 17.9 18.9 18.1 18.1 29.1 29.8 31.1 33.7 32.7 June 1 . . . 8... 15... 22... 29... July 6 . . . 13... 20... 27... 23.0 23.0 23.0 23.1 17.8 17.8 17.8 17.8 17.9 17.8 17.9 18.1 17.7 17.7 17.7 17.6 31.0 30.6 30.7 30.9 54.0 53.8 53.9 53.8 23.9 23.9 24.2 24.2 18.4 18.3 18.2 17.9 Aug. 5 19 26 26.7 26.0 25.3 25.5 20.8 20.2 19.6 19.8 21.8 21.2 20.2 20.6 19.9 19.4 19.1 19.2 32.4 31.4 29.9 29.9 57.9 56.8 55.8 56.1 31.1 30.1 29.4 29.4 29.8 29.4 29.2 28.7 25.7 28.4 28.5 28.8 28.9 20.5 23.0 23.0 23.3 23.3 21.2 24.3 24.4 24.9 25.1 19.8 22.0 21.8 22.0 21.7 29.4 35.1 36.6 38.1 40.7 53.5 55.2 55.6 54.8 55.4 28.0 28.6 28.8 28.8 28.7 28.7 29.3 27.9 28.3 27.3 23.7 23.8 22.9 23.5 24.2 18.4 18.5 17.7 18.3 18.9 18.9 19.3 18.1 18.8 19.7 17.9 17.9 17.5 17.8 18.2 31.4 31.4 30.4 31.5 33.2 54.8 54.4 53.1 53.9 54.3 25.0 24.9 24.0 24.6 25.4 18.4 18.3 17.8 18.7 19.1 Sept. 2 9 16 23 30 Aug. 3 . . . 10... 17... 24... 31... Sept. 7 . . . 14... 21... 28... 24.9 23.9 24.6 24.6 19.4 18.6 19.2 19.2 20.2 19.3 20.2 20.2 18.8 18.0 18.4 18.4 34.2 32.8 33.7 33.4 55.5 54.1 54.2 54.1 26.2 25.3 26.2 26.0 20.7 20.0 20.5 20.5 Oct. 7 14 21 28 28.2 28.3 29.0 29.0 22.7 22.7 23.3 23.1 24.1 24.3 25.0 24.8 21.3 21.4 21.7 21.7 38.4 38.3 39.6 39.3 55.3 55.7 56.8 57.2 28.9 29.1 30.1 30.6 28.4 27.7 28.0 28.4 Oct. 5 . . . 12... 19... 26... 24.9 24.4 24.7 24.9 19.5 19.1 19.2 19.5 20.6 20.2 20.6 21,0 18.5 18.0 18.0 18.2 34.7 34.0 34.4 34.2 54.4 53.6 54.8 54.3 26.4 25.8 26.0 25.9 20.9 20.4 20.6 21.0 Nov. 4 11 18 25 28.9 28.3 28.6 28.0 23.1 22.5 22.8 22.3 24.8 24.1 24.4 23.6 21.6 21.2 21.4 21.1 38.4 37.4 38.1 37.1 57.5 57.1 57.6 57.5 30.4 29.5 30.2 29.7 28.6 27.8 28,2 27.5 27.6 27.8 27.8 27.9 28.0 21.9 22.1 22.1 22.2 22.3 23.1 23.4 23.7 23.6 23.6 20.9 20.9 20.8 2L0 21.2 35.9 36.2 36.1 36.1 36.5 57.1 57.6 57.1 57.5 58.0 29.1 29.0 29.0 29.3 29.6 27.1 27.5 27.2 27.0 26.8 25.4 26.1 25.4 24.9 24.5 19.9 20.6 20.0 19.5 19.2 21.4 22.5 21.7 21.1 20.8 18.5 18.9 18.6 18.0 17.8 35.1 35.9 35.7 34.8 33.6 55.2 55.3 54.4 54.3 53.7 26.5 26.7 26.2 25.5 25.4 21.5 23.9 23.4 22.7 22.2 Dec. 2 9 16 23 30 Nov. 2 . . . 9... 16... 23... 30... Dec. 7 . . . 14... 21... 28... 24.6 24.7 24.2 24.4 19.2 19.4 18.9 19.1 20.8 21.0 20.4 20.5 17.8 18.0 17.7 17.8 33.6 33.4 32.4 33.4 54.4 54.3 53.8 54.0 25.5 25.7 24.8 25.4 22.1 22.3 21.4 21.4 1939—Jan. 7 14 21 28 12 Total Durable Nondurable 15. COMMON STOCK PRICE INDEXES: SECURITIES AND EXCHANGE COMMISSION — Continued B. WEEKLY, 1939-MAY 1964—Continued [1957-59 = 100] Manufacturing Total Total Durable Nondurable Transportation Public utility Trade, finance, Mining and service Manufacturing Week ending— Total Total Durable Nondurable Transportation Public utility Trade, finance, Mining and service 1941 Jan 4 11 18 25 19.5 19.6 18.9 18.9 20.8 20.9 20.1 20.1 18.3 18.4 17.9 17.8 33.8 35.3 34.5 34.8 54.5 54.7 54.3 54.2 25.9 26.1 25.6 25.6 21.8 22.4 22.0 21.9 1943—Mar. 6 13. 20 27 25.4 25.5 25 1 26.1 20.3 20.4 20 0 20.9 20.7 20.8 20 4 21.4 20.1 20.0 19 7 20.4 40.4 40.9 40 0 41.6 47.3 46.8 46 1 47.1 26.2 26.7 26 5 27.8 23.6 23.2 22 9 24.9 Feb. 1 8 15 22 23.3 23.6 22.4 22.7 18.0 18.3 17.2 17.5 19.0 19.5 18.1 18.4 17.2 17.3 16.5 16.7 32.9 33.4 31.5 32.2 52.9 53.1 51.7 51.5 24.5 24.9 23.5 23.6 21.1 21.2 19.7 20.2 Apr 3 10 17. 24 26 5 25.7 26.3 26.4 21.1 20.5 20.9 21.0 21 6 20.9 21.2 21.3 20.7 20.1 20.7 20.7 43 7 42.5 43.6 44.2 47 9 46.8 48.1 48.8 28 5 27.6 28.5 28.4 25.5 24.6 25.0 25.1 Mar. 1 8 15 22 29 22.9 23.0 23.3 22.9 23.1 17.8 17.8 18.0 17.8 17.8 18.8 18.8 19.1 18.7 18.7 16.9 16.9 17.1 17.0 17.1 32.6 32.6 33.0 32.4 33.4 52.2 52.4 52.5 52.2 52.1 23.9 24.1 24.1 24.0 23.9 20.2 20.1 20.6 20.7 20.5 May 1.. 8 15 22. 29 26.9 27 5 27.1 27.5 28 1 21.3 21.8 21.5 21.7 22.2 21.6 22.1 21.7 22.1 22.4 21.0 21.6 21.3 21.5 22.1 45.0 46 1 45.0 45.7 46 5 50.1 51.0 50.6 51.1 51.7 29.0 29 7 29.4 30.0 31 2 24.9 25.2 24.8 24.7 25.6 Apr. 5 12 19 26 © 24.9 25.1 24.4 24.3 23.5 22.3 21.9 22.0 18.2 17.2 16.9 17.0 18.9 17.8 17.1 17.3 17.6 16.8 16.7 16.7 34.4 32.2 31.8 32.8 51.9 50.6 50.2 49.7 24.3 23 A 22.9 22.7 21.2 20.3 19.7 20.1 June 5 12 19 26 28.4 28.0 27.6 28.3 22.6 22.2 21.9 22.5 22.9 22.5 22.1 22.8 22.3 21.9 21.8 22.2 46.0 44.5 43.8 45.1 52.0 51.9 50.8 51.5 31.5 31.3 31.0 32.1 25.7 25.1 24.7 25.1 May 3. 10 17 24 31 21.9 22.4 22.0 22.1 22.0 17.0 17.4 17.1 17.3 17.1 17.1 17.8 17.2 17.4 17.3 16.9 17.2 17.1 17.2 17.0 32.7 33.6 31.8 31.9 31.8 48.4 48.4 47.9 47.9 47.9 22.6 23.0 23.1 23.1 22.9 20.2 20.8 20.6 20.7 20.6 July 3. 10 17 24. 31 28.5 28.7 29.0 28.9 27.0 22.6 22.7 22.9 22.7 21.2 23.0 22.9 23.1 22.8 21.0 22.3 22.5 22.8 22.8 21.4 46.0 46.6 47.5 47.8 43.0 52.3 52.9 53.5 53.7 52.0 32.6 32 7 32.9 33.0 30 9 25.3 25.1 26.3 25.8 24.6 June 7 14 21 28 22.6 23.0 22.9 23.2 17.6 18.0 17.9 18.2 17.7 18.2 18.2 18.3 17.5 17.8 17.7 18.1 32.0 32.6 32.0 32.7 50.1 50.1 49.7 49.8 23.2 23.9 23.9 24.0 20.8 21A 21.3 21.3 Aug. 7 8 i4..:...... 21 28 26.9 27.4 27.1 27.2 21.2 21.6 21.3 21 3 . 20.9 21.3 21.0 21 1 21A 21.8 21.6 21.5 42.6 44.0 , 42.8 43.3 51.5 52.1 52.1 52.3 30.6 31.6 31.5 31 5 24.1 24.8 24.6 25.3 July 5 12 19 26 23.4 23.9 24.0 24.2 18.3 19.0 19.0 19.2 18.3 19.1 19.0 19.1 18.3 19.0 19.0 19.3 32.8 33.8 33.5 34.3 50.3 50.3 50.0 49.7 24.1 24.7 24.8 24.9 21.6 23.0 22.3 22.6 Sept 4 ii::::..::: 18 25 27.5 27.7 28.2 28.0 21.6 21.6 22.1 22.0 21.3 21.5 22.1 21.9 21.8 21.9 22.2 22.2 43.6 43.7 45.3 44.4 53.0 53.3 •53.1 53.1 31.8 32.5 33.2 32.6 25.6 25.9 26.3 26.5 Aug 2 9 16 23 30 24.2 23.9 23.6 23.8 24.1 19.1 18.9 18.6 18.8 19.0 19.1 18.8 18.5 18.7 19.0 19.2 19.0 18.7 18.8 19.0 34.7 33.9 33.8 34.1 34.2 49.8 49.3 48.8 49.2 49.8 24.8 24.6 24.6 25.1 25.5 22.7 22.4 21.8 21.7 21.9 Oct 2. 9 16 23 30 27.9 27.2 27.4 27.5 27.5 '22.0 21.4 21.5 21.5 21.6 21.8 21.2 21.4 21 5 21.5 22.1 21.5 21.6 21.6 21.7 44.4 43.7 44.1 44 0 44.1 53.0 52.4 52.7 53.0 53.3 32.4 30 9 31.1 31 2 31.7 26.7 25.5 25.4 25.5 25.3 Sept. 6 13 20 27 24.0 24.0 24.0 23.7 18.9 19.0 18.9 18.7 19.0 19.0 19.0 18.7 19.0 19.0 18.9 18.7 33.7 33.5 33.2 33.0 49.7 49 A 49.5 49.2 25.6 25.7 25.8 25.4 22.0 22.3 22.2 21.6 Nov. 6 13 20 27. '26.8 26.2 26.5 26.0 21.0 20.5 20.7 20.3 20.8 20.2 20.5 20.0 21.3 20.8 20.9 20.7 41.8 41.0 41.2 39.6 52.4 51.8 52.3 51.4 30.9 29.9 30.5 29.7 25.2 23.6 24.4 24.0 Oct 4 11 18 25 23.7 23.1 22 8 23.0 18.7 18.2 17 9 18.1 18.6 17.9 17 7 17.7 18.8 18.4 18 1 18.5 33.5 32.9 32 2 32.7 49.2 48.5 48 1 48.1 25.5 24.8 24 5 24.5 21.5 21.2 20 8 20.8 Dec 4 11 18 25 26.2 26.9 27 0 26.9 20.5 21.1 21 2 21.2 20.3 20.9 21 1 21.1 20.7 21.3 21 4 21.3 40.0 41.4 41 4 41.4 51.9 52.5 51 9 52.1 30.6 31.3 31 4 31.5 24.1 25.4 25 4 25.2 Nov 1 g 15 22 29 22.5 22 6 22 2 22 3 21.7 17.7 17 8 17 5 17 6 17.1 17.3 17 3 16 8 17 0 16.3 18.2 18 4 18.2 18 2 17.9 . 32.2 32 0 31.3 32 0 30.7 47.1 46 9 46.3 46 7 45.1 24.2 23 8 23.3 23 4 22.9 19.7 19 8 19.4 19 5 18.8 Jan 1 8 15 22 29 27.1 27 5 27 6 27 6 27.4 21.2 21 6 21.7 21 6 21.4 21.2 21 7 21.9 21 8 21.5 21.3 21 6 21 6 21 6 21.4 41.7 42 6 43.5 44 4 43.7 52.4 52 6 52.6 52 5 52.9 31.7 32 1 32.1 32 2 31.9 25.5 25 8 26.6 26 3 25.9 Dec 6 13 20 27 22 3 20.7 20 2 20.0 17.6 16.6 16 3 16^2 16.8 15.8 15 5 15^6 18.3 17.4 17 1 16.8 30.9 27.9 27 5 27.1 46.7 41.6 39 1 37.9 23 A 21.3 20 3 20.2 19.1 17.9 16 9 16.9 Feb. 5 12 19 26 27.0 27.2 27 3 27.5 21.1 21.3 21 3 21.4 21.2 21.4 21 4 21.7 21.1 21.2 21 2 21.2 43.7 44.8 46 0 46.6 52.6 52.9 53 0 53.5 31.4 31.3 31 4 32.0 24.5 25.5 25 4 25.6 1944 27.6 28.2 28.4 28.1 21.5 2"2.0 22.2 22.0 21.7 22.4 22.6 22.3 21.3 21.7 21.9 21.7 45.6 46.3 47.3 46.8 53.5 53.7 53.6 53.4 32.2 32.9 33.3 32.9 25.6 26.0 26.3 26.1 Apr. 1. 8. 15. 22. 29. 27.9 28.0 27.8 27.4 27.5 21.8 21.9 21.7 21.3 21.5 22.1 22.2 22.0 21.7 21.8 21.6 21.6 21.4 21.1 21.4 46.2 46.2 46.2 45.0 45.2 53.3 53.5 53.4 53.2 52.8 32.5 32.5 32.5 31.7 32.1 25.8 26.5 26.3 26.2 26.0 16.7 16.7 15.3 15.1 20. 27. 27.9 27.8 28.1 28.4 21.9 21.7 22.0 22.3 22.2 22.0 22.3 22.6 21.6 21.5 21.8 22.0 45.6 45.3 46.2 46.4 53.1 53.0 53.6 54.0 32.4 32.2 32.5 32.8 26.3 26.1 26.5 26.9 19.1 19.0 18.3 17.9 15.6 15.3 14.8 14.8 June 3. 10. 17. 24. 28.6 28.7 29.9 29.9 22.5 22.6 23.6 23.6 22.8 23.0 24.4 24.5 22.2 22.2 23.0 22.8 46.4 45.6 48.0 48.4 54.3 54.5 54.9 55.2 33.5 33.6 34.9 35.1 27.2 27.3 27.9 28.7 35.8 35.4 36.5 37.0 36.9 17.8 18.4 18.8 19.4 20.0 15.3 15.7 15.7 16.3 16.2 July 1. 8. 15. 22. 29. 30.1 30.7 30.7 29.5 29.6 23.7 24.2 24.2 23.2 23.2 24.7 25.2 25.2 23.7 23.8 22.9 23.3 23.4 22.7 22.7 48.4 49.6 50.0 47.9 48.4 56.2 56.5 56.0 55.2 56.0 35.3 35.6 35.8 34.5 35.0 29.1 30.3 30.1 28.7 28.8 27.5 27.3 27.2 27.4 38.4 37.7 37.0 36.1 20.7 20.4 20.5 20.2 17.2 17.3 17.6 17.3 Aug. 5. 12. 19. 26. 29.4 29.8 30.3 29.8 23.0 23.4 23.8 23.4 23.8 24.3 24.8 24.3 22.4 22.6 23.0 22.6 47.7 48.7 48.9 47.8 56.0 56.1 56.4 56.3 34.8 35.2 35.9 35.5 28.2 28.9 29.5 28.8 15.1 15.9 15.7 15.7 28.5 29.5 29.3 29.8 36.7 37.2 37.1 37.1 20.6 21.2 21.2 21.3 17.2 18.4 18.0 17.8 Sept. 2. 9. 16. 23. 30. 15.4 15.4 15.6 15.8 15.7 30.0 29.6 30.3 31.4 30.8 21.4 20.9 21.4 21.6 21.5 24.5 23.6 23.7 24.1 24.4 22.5 21.7 21.8 22.2 22.3 48.0 46.1 46.1 46.7 47.8 56.5 55.1 55.5 55.7 55.9 35.9 34.9 34.9 35.4 36.1 37.0 37.1 37.3 37.9 37.6 23.4 22.6 22.7 23.1 23.3 28.9 27.7 27.2 27.4 27.7 16.2 16.0 16.3 16.4 16.2 17.6 17.6 17.4 17.7 17.7 29.9 28.9 29.0 29.4 29.7 Oct. 7. 14. 21. 28. 30.2 30.2 30.2 29.7 23.7 23.6 23.7 23.2 24.8 24.8 24.8 24.1 22.7 22.7 22.7 22.5 48.9 48.8 49.3 48.6 56.3 56.5 56.4 56.4 37.1 36.8 36.6 36.1 28.2 28.1 27.7 27.3 15.9 15.8 16.0 16.3 16.2 16.1 16.3 16.7 15.6 15.5 15.7 16.0 30.9 30.7 31.1 32.0 38.1 38.0 37.7 38.1 21.5 21.4 21.3 21.8 17.6 17.6 17.9 18.2 Nov. 4. 11. 18. 25. 30.0 30.2 29.6 29.8 23.4 23.6 23.1 23.2 24.4 24.6 23.9 24.0 22.7 22.8 22.4 22.5 49.2 49.8 48.8 49.4 56.6 56.5 56.1 56.3 36.6 36.8 36.6 36.7 27.2 27.5 27.0 28.2 20.9 21.5 21.4 22.0 21.7 16.7 17.3 17.2 17.7 17.3 17.2 17.8 17.6 18.3 17.7 16.3 16.9 16.9 17.2 17.1 33.8 34.6 34.0 34.5 35.2 38.2 41.2 40.1 41.1 41.1 21.9 22.1 21.7 22.0 22.0 17.5 17.2 17.2 18.5 18.1 Dec. 2. 9. 16. 23. 30. 30.0 30.7 30.9 30.6 30.9 23.3 23.9 24.0 23.7 24.0 24.2 25.0 25.2 24.8 25.0 22.5 23.0 23.1 22.9 23.2 50.9 52.9 54.4 54.8 55.0 56.6 56.8 56.8 56.7 56.6 37.0 37.8 38.1 37.5 37.8 27.5 28.1 28.4 28.0 28.8 Nov. 7 14 21 28 22.2 22.0 21.9 21.6 17.7 17.5 17.4 17.2 18.2 17.9 17.7 17.2 17.4 17.3 17.2 17.2 35.5 34.9 34.0 33.4 42.2 42.2 42.3 41.8 22.8 22.9 22.8 23.0 18.5 18.5 19.2 19.0 1945—Jan. 6. 13. 20. 27. 31.3 31.8 31.2 31.5 24.4 24.8 24.4 24.7 25.4 25.8 25.2 25.6 23.5 23.9 23.7 23.9 56.7 57.7 54.7 55.0 57.0 57.2 57.0 56.8 37.8 37.6 37.1 37.8 29.6 30.5 30.1 31.1 Dec. 5 12 19 26 21.7 21.8 22.3 22.5 17.3 17.4 17.9 18.1 17.3 17.4 18.0 18.1 17.4 17.4 17.9 18.3 33.1 32.3 33.7 33.7 41.6 42.0 41.2 41.2 23.1 22.9 23.5 23.6 18.7 18.7 19.0 20.1 Feb. 3. 10. 17. 24. 31.8 32.0 32.6 32.8 24.9 25.1 25.6 25.8 26.0 26.3 26.6 26.9 24.0 24.2 24.7 24.8 55.3 55.5 58.3 58.2 57.0 57.5 57.9 57.8 38.1 38.1 38.8 38.8 31.6 31.5 32.1 32.8 1943—Jan. 2 9 16 23 30 22.7 22.9 23.3 23.5 24.0 18.2 18.3 18.7 18.9 19.4 18.2 18.4 18.8 19.0 19.5 18.3 18.3 18.6 18.8 19.3 34.3 34.8 35.7 35.9 36.1 42.0 43.7 44.0 43.4 44.2 23.6 23.5 24.1 24.3 25.1 20.1 20.1 20.9 20.9 22.0 Mar. 3. 10. 17. 24. 31. 33.1 32.3 32.8 31.8 31.8 26.0 25.4 25.7 24.8 24.9 27.2 26.4 26.7 25.8 25.9 25.0 24.6 24.9 24.0 24.0 58.6 56.4 58.7 56.4 56.4 58.0 58.0 58.0 57.5 57.3 39.3 38.5 39.2 38.1 38.2 33.0 31.9 32.3 31.0 31.6 Feb. 6 13 20 27 24.2 24.6 24.7 25.3 19.5 19.8 19.9 20.2 19.6 20.0 20.1 20.5 19.4 19.7 19.7 20.0 36.0 36.3 37.0 39.6 44.0 45.2 46.2 47.6 25.4 25.8 25.5 25.9 21.8 22.2 22.2 23.0 Apr 32.2 33.0 33.7 34.2 25.2 25.8 26.5 26.8 26.2 27.0 27.7 28.1 24.3 24.8 25.5 25.8 57.2 58.8 60.4 63.1 57.7 58.6 59.1 59.5 38.7 39.6 40.5 40.8 31.6 32.3 32.1 32.5 1942—Jan. 3 10 17 24 31 21.2 20.6 20.8 20.7 20.6 16.9 16.4 16.6 16.5 16.3 16.7 16.4 16.7 16.5 16.4 17.1 16.5 16.6 16.4 16.3 30.5 31.1 31.8 32.5 32.1 42.0 40.4 40.5 40.2 40.5 21.9 21.2 21.5 21.1 21.0 17.8 18.0 18.7 18.6 18.9 Feb. 7 14 21 28 20.6 20.2 19.8 20.0 16.3 16.0 15.6 15.8 16.5 16.2 16.2 16.4 16.2 15.8 15.1 15.3 32.6 31.4 31.2 31.3 40.7 39.9 40.1 40.2 21.3 20.6 20.3 20.5 18.7 18.1 18.0 18.1 Mar. 7 14 21 28 19.2 18.7 18.9 18.6 15.2 14.8 15.0 14.9 15.9 15.7 16.0 15.8 14.6 14.0 14.2 14.0 29.8 29.1 29.2 28.1 38.2 37.4 37.2 36.5 19.7 19.1 19.3 19.0 18 25 18.8 18.6 18.1 17.6 15.0 14.8 14.4 14.0 16.0 15.6 15.1 14.8 14.2 14.1 13.9 13.4 28.2 28.4 27.1 26.8 36.9 36.4 35.8 34.7 May 2 9 16 23 30 18.0 18.4 18.4 18.5 18.8 14.3 14.7 14.6 14.7 15.0 15.0 15.3 15.2 15.2 15.5 13.8 14.2 14.1 14.3 14.5 27.9 27.9 27.6 27.4 27.9 June 6 13 20 27 19.4 19.3 19.3 19.1 15.5 15.4 15.5 15.3 16.0 15.9 15.9 15.7 15.0 15.0 15.1 14.9 July 4 11 18 25 19.4 20.2 20.0 19.9 15.6 16.3 16.1 15.9 16.1 16.7 16.6 16.3 Aug. 1 8 15 22 29 19.8 19.6 19.9 20.2 20.0 15.8 15.7 15.9 16.1 15.9 19 26 20.0 19.8 20.0 20.5 Oct. 3 10 17 24 31 Apr -,f:::::::: Sept ,l:::::::: 1944—Mar. 4. 11. 18. 25. -il: 21. 28. 15. COMMON STOCK PRICE INDEXES: SECURITIES AND EXCHANGE COMMISSION — Continued B. WEEKLY, 1939-MAY 1964 —Continued [1957-59 = 100] Manufacturing Week ending— Total TransportaNondution rable Public utility Trade, finance, Mining and service Manufacturing Week ending— Trade, finance, Mining and service Transportation Public utility 30.5 30.8 30.9 31.3 50.0 51.7 52.3 54.0 58.4 58.4 58.1 58.5 50.2 51.4 51.2 52.0 34.8 36.4 36.0 36.8 27.4 26.6 27.1 26.9 26.6 30.8 30.4 30.4 30.2 30.0 51.8 50.0 51.0 50.2 50.0 58.1 57.4 57.8 57.8 58.1 50.8 48.9 49.6 48.7 48.1 35.8 34.8 35.6 35.4 35.4 28.0 27.9 28.4 27.7 26.2 26 0 26.6 26.0 29.7 29 6 29.9 29.2 49.1 48 4 49.1 48.2 58.2 58 1 58.1 57.6 47.0 46 7 46.9 45.8 34.8 34.4 34.7 34.1 35.4 35.5 36.3 35.9 28.6 28.7 29.4 29.1 27.1 27,3 28.1 27.7 29.9 30.0 30.6 30.4 49.9 49.4 50.9 49.9 57.9 57.6 58.0 57.6 47.0 46.9 48.6 48.1 34.6 34.7 35.6 35.4 Total Total Durable 34.6 34.1 34.4 34.4 27.2 26.8 27.0 26.8 28.5 28.1 28.4 28.2 26.1 25.7 25.8 25.6 63.1 62.2 62.8 64.0 59.9 59.9 60.3 60.5 41.4 40.5 41.8 42.8 32.7 32.7 32.7 32.0 June 2 9 16 23 30 34.8 34.6 34.9 35.2 34.6 27.0 26.8 27.0 27.3 26.7 28.5 28.3 28.6 28.8 28.2 25.7 25.5 25.7 25.9 25.4 65.4 65.2 66.6 67.8 67.5 61.8 61.7 62.0 63.0 62.8 43.5 43.3 43.2 42.8 41.9 32.1 32.4 32.8 34.0 33.0 Aug 2 9 ... . 16 23 30 July 7 14 21 28 34.4 34.7 33.8 33.4 26.5 26.7 26.0 25.7 27.9 28.3 27.4 27.1 25.3 25.4 24.9 24.5 66.1 66.4 63.7 62.5 63.5 64 3 63.5 62.9 41.9 42 0 41.5 40.8 32.7 32 8 31.7 31.1 Sept. 6 13 20 27. Aug. 4 11.:.:...: 18 25 34.0 34.1 33.9 34.8 26.1 26.4 26.3 27.1 27.6 27.9 27.8 29.0 24.9 25.1 25.0 25.4 63.5 62.6 60.0 61.8 63.6 63.4 63.0 63.5 41.8 42 2 42.1 43.7 31.5 31.3 30.9 31.2 Oct 4 11. 18 25 Sept. 1 8 15 22 29. 35.8 36.4 36.0 36.8 37.4 28.1 28.5 28.1 27.8 29.2 30.1 30.4 29.7 30.7 31.2 26.3 26.8 26.8 27.2 27.5 63.3 63.3 63.8 65.0 67.6 64.4 64.9 64.7 65.2 65.6 44.9 45.6 44 9 46.2 47.2 32.3 32.2 31.8 33.2 33.5 Nov 1 8 15 22 29 35.7 35.4 35.1 35.3 34.6 29.0 28.8 28.6 28.9 28.3 27.7 27.4 27.1 27.5 26.8 30.3 30.1 30.0 30.1 29.6 48.9 47.9 47.4 48.6 46.9 56.8 56.3 55.3 55.2 54.3 47.9 47.1 46.9 46.9 45.9 34.8 35.1 34.9 35.4 34.3 Oct. 6 13 20 27 38.1 38.6 38.6 38.4 29.9 30.1 30.2 29.8 31.4 31.6 31.6 31.2 28.5 28.8 29.0 28.7 69.0 69.7 69.2 69.5 65.6 66.1 66 7 67.1 48.0 48.3 48 8 50.1 34.0 34.5 36.3 35.7 Dec. 6 13 20 27 33.8 34.8 35.5 35.1 27.6 28.5 29.0 28.7 26 A 27.1 27.5 27.1 28.9 29.7 30.4 30.1 45.8 48.1 50.6 50.2 54.0 54.0 54.0 53.7 44.7 45.3 46.1 45.4 33.7 Nov. 3 10 17 24 39.2 39.7 40.0 38.8 30.4 30.7 30.9 30.0 31.6 31.9 32.2 31.1 29.3 29.7 29.8 29.1 72.4 72.4 74.3 72.2 68.3 70.0 70.2 67.9 51.6 52.3 52.5 51.3 36.7 37.9 39.2 38.3 . Dec. 1 8 15 22 29 40.3 41.2 40.6 40.1 40.5 31.1 32.0 31.5 31.1 31.4 32.6 33.8 33.0 32.6 32.8 29.8 30.4 30.2 29.8 30.2 75.8 76.8 76.4 75.0 74.8 69.4 69.5 69.3 68 0 68.7 53 9 56.0 54.3 54.1 54.6 40 2 40.4 39.7 39.5 39.4 35.7 35.4 34.5 33.4 34.1 29.1 28.8 28.0 27.0 27.6 27.5 27.5 26.8 25.7 26.3 30.5 30.1 29.1 28.1 28.8 52.9 51.6 50.2 49.3 50.9 54.7 55.1 54.8 54.4 54.4 45.6 45.1 43.8 42.5 43.4 38.3 39.6 37.7 36.4 37.6 Feb 7. 14 21 28 ... 33.1 32.1 32.3 32.4 26.8 25.9 26.0 26.1 25.4 24.5 24 5 24.7 27.9 27.1 27 4 27.3 49.3 47.8 47.9 48.4 54.0 53.0 53.2 53.4 42.2 40.8 41.2 41.3 36.0 35.2 35.7 35.7 1946—Jan. 5 12 19 26 40.2 41.8 41.9 41.9 31.1 32.5 32.4 32.3 32.5 34.0 34.1 34.1 30.0 31.2 30.9 30.6 74.6 77.0 78.3 78.2 68.7 69.9 70.3 70.5 55.2 58.3 59 3 60.8 38.8 40.2 39.9 40.0 Mar 6 13 20 27 32.8 32.6 33.9 34.0 26.4 26.3 27.5 27.6 25.0 24.8 26.3 26.3 27.7 27.6 28.5 28.7 48.8 49.3 51 0 50.9 53.8 53.4 53 9 53.9 42.2 42.0 42.9 43.4 37.2 36.8 38.3 38.6 Feb. 2 9 16 23 43.2 42.4 42.8 41.1 33.5 32.8 33.1 31.7 35.8 35.1 35.6 33.7 31.4 30.8 30.9 30.0 79.8 77.6 79.7 74.8 71.3 70.2 70.7 69.6 63.2 61.9 63.4 60.8 41.3 40.2 40.4 38.9 Apr 3 10 17. .. 24 34.9 35.3 35.6 36.3 28.4 28.7 28.9 29.4 27.1 27.3 27.6 28.1 29.5 29.9 30.1 30.6 52.6 53.4 53.8 56.2 54.2 54.5 54.9 55.7 45.7 46.1 46.3 47.2 40.0 40.2 41.0 42.2 Mar. 2 9 16 23 30 39.8 40.8 40.6 41.4 42.1 30.6 31.3 31.2 31.9 32.4 32.1 32.8 32.4 32.8 33.1 29.3 30.1 30.2 31.1 31.9 72.4 73.8 74.1 74.9 75.2 68.1 69.4 69.2 69.1 69.6 59.0 61.4 61.0 63.3 65.7 38.0 38.6 37.4 38.9 39.5 May 1 8. 15 22 29 35.8 36.4 38.0 38.4 38.5 29.0 29.5 30.9 31.2 31.4 27.2 27.7 29.5 29.7 30.2 30.6 31.1 32.1 32.5 32.5 54.4 55.1 58.8 58.7 58.0 55.2 55.9 57.3 57.9 57.4 47.0 47.6 50.7 51.0 51.1 42.9 43.2 43.7 45.1 44.3 Apr. 6 43.1 43.3 43.9 43.5 33.3 33.5 34.0 33.6 33.9 33.9 34.2 33.7 32.8 33.2 33.9 33.7 75.5 74.4 75.7 74.4 70.4 70.3 70.7 70.8 67.9 68.5 69.3 69.8 40.0 39.7 40.9 40.3 June 5 12 19 26 38.3 38.9 38.8 38.4 31.4 32.0 31.9 31.5 30.1 30.6 30.2 30.0 32.5 33.3 33 4 32.8 56.5 58.4 57.9 58.3 57.3 57.3 57.1 57.0 50.0 49.8 49.1 49.7 43.3 43.7 43.5 43.2 1945_May 5 12::...... 19 . . . . 26 20 http://fraser.stlouisfed.org/ 27 Federal Reserve Bank of St. Louis Total 1947_j u ly 5 19 26. .. 1948—Jan 3. 10 17 24 31 .. . ... .. Durable Nondurable 35.9 36.5 36.4 37.0 29.1 29.3 29.3 29.7 26.9 27.6 27.5 28.0 36.3 35.5 35.8 , 35.5 35.3 29.2 28.6 28.8 28.6 28.4 34.9 34 7 35.2 34.4 37 6 38.3 38.5 38.6 37.3 37.2 36.3 31.6 31.8 30.6 30.6 29.8 30.0 30.2 29.1 29.2 28.4 33.0 33.1 31.9 31.9 31.0 58.1 58.7 56.6 56.0 54.6 57.2 57.3 56.3 56.2 55.7 49.4 49.3 47.2 46.6 45.2 43.4 43.1 41.3 41.1 39.5 21. 28. 36.8 35.9 36.7 36.5 30.2 29.4 30.1 29.9 28.9 28.0 28.9 28.8 31.4 30.7 31.1 30.8 55.5 53.6 55.4 56.2 55.7 54.9 55.5 55.7 45.9 45.2 46.7 47.1 39.7 39.0 39.3 38.1 39.1 39.3 38.4 37.4 Sept. 4. 11. 18. 25. 36.9 35.9 35.6 35.3 30.1 29.3 29.0 28.8 29.1 28.4 28.2 27.8 31.0 30.0 29.8 29.6 57.3 55.0 55.0 54.2 56.2 55.7 55.2 54.9 47.5 46.4 46.1 45.7 38.8 37.2 36.6 37.0 61.9 61.9 60.8 61.2 58.3 38.7 38.8 38.1 37.4 35.4 Oct. 2. 9. 16. 23. 30. 35.6 35.8 36.2 37.3 37.0 29.0 29.4 29.9 30.9 30.5 28.0 28.3 28.9 30.0 29.6 29.9 30.3 30.7 31.6 31.3 54.7 54.7 54.6 56.9 56.0 54.8 54.8 55.2 55.7 55.8 46.4 46.4 46.8 47.9 47.7 37.5 38.3 38.8 39.6 39.0 63.7 63.2 61.1 61.8 55.8 54.3 52.9 54.2 33.5 31.8 30.3 31.9 Nov. 6. 13. 20. 27. 34.9 34.0 34.5 33.6 28.5 27.8 28.1 27.3 27.3 26.7 27.0 26.1 29.5 28.6 29.1 28.4 52.0 49.5 50.5 48.8 54.0 53.6 53.9 53.3 46.5 44.7 45.7 44.6 35.7 34.3 34.7 33.6 53.4 53.2 54.2 53.8 60.6 58.4 61.3 60.3 52.7 52.4 52.9 51.7 30.1 30.4 31.8 30.8 Dec. 4. 11. 18. 25. 34.3 34.4 34.1 34.3 28.0 28.1 27.9 28.1 26.7 26.7 26.5 26.7 29.1 29.3 29.0 29.3 49.8 50.3 49.2 49.6 53.5 53.5 53.1 53.2 45.4 45.7 45.1 45.4 35.2 35.8 36.0 36.2 29.1 28.7 28.3 27.6 28.5 57.6 56.4 54.5 53.1 54.3 60.7 59.8 58.9 58.1 59.8 53.7 52.2 50.9 48.8 49.6 31.8 31.7 30.8 30.3 31.0 1949—Jan. 1. 8. 15. 22. 29. 34.1 35.0 34.4 34.8 34.2 28.0 28.7 28.1 28.6 27.9 26.5 27.4 26.7 27.1 26.7 29.2 29.8 29.4 29.8 29.0 49.0 50.7 49.4 50.3 49.1 53.2 54.0 52.9 53.3 53.4 44.9 46.2 45.5 46.1 45.2 35.4 37.1 37.4 37.7 36.2 25.6 26.4 27.2 26.7 28.7 29.5 29.8 29.6 55.9 57.1 57.8 56.1 59.4 60.8 60.9 60.9 50.8 51.7 51.6 50.5 31.2 31.6 32.9 32.2 Feb. 5. 12. 19. 26. 33.3 32.7 33.2 32.6 27.1 26.6 27.0 26.4 25.9 25.4 25.6 24.9 28.2 27.7 28.3 27.8 47.4 46.1 46.4 45.1 53.4 53.0 53.5 53.3 44.5 43.3 44.1 43.7 34.5 34.8 35.1 34.4 28.2 27.7 28.0 28.0 26.8 26.4 26.8 27.1 29.6 29.0 29.1 28.9 55.6 52.7 54.2 54.0 62.2 62.0 62.2 62.4 50.9 49.1 49.7 49.4 32.4 31.7 32.2 33.0 Mar. 5. 12. 19. 26. 33.3 33.9 33.5 33.5 27.1 27.7 27.4 27.3 25.6 26.2 25.7 25.6 28.5 29.0 28.9 28.8 46.0 46.9 45.6 46.3 53.8 54.0 53.5 53.7 44.1 44.7 45.1 45.2 35.7 37.2 36.1 36.1 36.7 37.6 36.9 36.7 28.9 29.7 29.2 29.0 28.3 29.4 28.7 28.4 29.5 30.2 29.7 29.5 56.2 58.1 56.6 56.4 63.0 62.9 62.7 62.5 51.1 52.8 51.4 51.3 33.4 34.6 33.8 33.7 Apr. 2. 9. 16. 23. 30. 35.9 35.0 34.2 35.2 35.5 28.3 27.6 27.0 27.9 28.1 27.6 26.9 26.3 27.1 27.3 29.0 28.3 27.7 28.7 28.9 54.4 52.7 51.3 51.5 52.5 61.9 60.9 59.8 60.5 60.5 49.6 48.3 47.0 48.3 48.6 33.5 32.8 32.4 34.1 34.7 27.5 27.5 27.5 26.9 27.0 25.8 25.5 25.4 24.7 24.8 28.9 29.2 29.3 28.8 28.8 46.8 47.4 46.6 45.6 45.3 53.9 54.0 54.0 53.5 53.6 45.9 45.9 45.5 45.1 45.1 38.4 38.9 39.4 38.6 37.7 Mar. 1.. 8. . 15.. 22... 29. . 33.8 33.8 33.8 33.1 33.2 May 27.3 27.2 26.8 26.4 25.1 25.0 24.6 24 A 29.2 29.0 28.5 28.5 45.6 46.6 45.7 45.0 53.2 53.4 52.9 52.8 46.0 46.4 46.0 45.6 38.4 38.8 37.6 37.0 Apr.5;. 19.. 26.. 35.0 33.8 33.1 33.4 27.8 26.7 26.2 26.6 26.9 25.7 25.2 25.3 28.6 27.8 27.2 27.7 51.8 49.7 48.5 48.5 60.1 59.1 58.8 58.8 48.0 46.3 44.4 43.8 34.0 33.0 31.5 32.8 21. 28. June 4. 11. 18. 25. 33.5 33.5 33.1 32.7 31.7 31.2 31.2 31.9 25.7 25.1 25.2 25.8 23.4 22.9 23.0 23.5 27.6 27.0 27.1 27.7 43.0 42.0 42.0 43.1 52.3 52.3 51.5 51.8 44.0 43.6 43.8 45.0 36.1 35.6 35.3 35.9 May 3 . . 10.. 17.. 24.. 31.. 34.2 33.7 31.6 32.7 33.3 27.2 26.7 25.1 26.0 26.5 26.2 25.4 23.6 24.6 25.0 28.2 28.0 26.5 27.2 27.9 49.2 47.9 44.1 45.7 47.0 59.5 59.2 56.8 57.9 58.3 45.2 44.9 42.1 43.9 44.8 33.5 33.1 31.8 32.3 33.1 July 2. 9. 16. 23. 30. 32.1 32.6 33.1 33.4 33.6 26.0 26.5 27.0 27.2 27.4 23.9 24.3 24.8 25.0 25.4 27.9 28.3 28.9 29.1 29.2 42.9 42.6 43.7 44.2 44.2 52.2 52.6 52.8 53.0 53.4 45.8 46.3 46.7 47.5 47.8 34.8 35.5 35.9 36.1 36.1 June 7 . . 14.. 21 28.. 33.4 34.5 34.9 34.8 26.6 27.6 28.0 28.0 24.9 25.8 26.3 26.0 28.2 29.3 29.6 29.8 46 A 47.7 48.3 48.4 58.2 57.6 56.8 57.2 45.1 47.7 48.3 48.2 33.1 34.8 34.7 34.5 Au8 34.3 34.4 34.7 34.3 28.0 28.1 28.4 28.0 25.8 25.7 25.8 25.4 29.9 30.1 30.6 30.2 45.3 46.0 45.6 44.6 54.4 54.8 55.0 54.6 48.6 48.4 48.8 48.4 37.0 37.9 38.5 38.1 1946—May 4 . . . 43.1 44.2 43.6 44.3 33.2 34.3 33.8 34.3 32.9 34.1 33.4 34.0 33.6 34.5 34.2 34.6 73.0 74.5 73.4 75.3 70.5 70.8 71.1 71.5 69.3 71.9 70.2 70.2 39.2 39.8 40.3 40.5 45.1 44.4 44.3 42.8 43.3 35.0 34.5 34.4 33.3 33.7 35.1 34.4 34.3 33.3 33.7 35.1 34.7 34.6 33.3 33.8 77.4 75.4 77.6 75.7 75.2 72.4 72.3 71.7 71.3 71.3 70.0 67.9 66.9 62.3 63.2 41.5 40.8 40.4 38.8 39.3 20... 27... 43.3 43.0 42.2 41.4 33.8 33.6 32.9 32.3 33.6 33.1 32.4 31.5 34.1 34.1 33.5 33.1 74.5 73.3 72.3 70.1 71.3 71.0 70.2 69.5 63.7 62.7 60.6 59.2 Aug. 3 . . . 10... 17... 24... 31... 42.5 42.5 42.0 41.4 39.3 33.1 33.2 32.8 32.4 30.6 32.5 32.4 31.9 31.3 29.6 33.8 34.0 33.8 33.5 31.7 71.2 71.3 70.8 69.8 65.7 70.7 70.8 70.0 67.3 65.4 Sept. 7 . . . 14... 21... 28... 37.3 36.1 34.9 35.8 28.9 27.9 27.0 27.8 28.0 26.9 25.7 26.4 29.8 28.8 28.2 29.1 61.9 59.6 55.3 55.9 Oct. 5 . . . 12... 19... 26... 34.8 34.4 35.3 34.6 27.0 26.9 27.5 26.9 25.5 25.4 25.8 25.2 28.4 28.3 29.1 28.5 Nov. 2 . . . 9... 16... 23.., 30.., 35.6 35.1 34.4 33.6 34.5 27.7 27.3 26.9 26.1 26.9 26.1 25.9 25.3 24.6 25.2 Dec. 7 . . 14... 21.. 28... 34.8 35.8 36.3 35.8 27.2 28.0 28.6 28.1 1947—Jan. 4 . . 11... 18.. 25. .. 35.9 35.2 35.6 35.6 Feb. 1... 8... 15.. 22... 18!!! 25... June 1 . . . 8... 15... 22... 29... July ^::: 1948—July 3., 10. 17., 24. 31. Aug.7. ,I: if: 20. 27. 15. COMMON STOCK PRICE INDEXES: SECURITIES AND EXCHANGE COMMISSION — Continued B. WEEKLY, 1939-MAY 1964 — Continued [1957-59 = 100] Manufacturing Total TransportaNondution rable Public utility Trade, finance, Mining and service Manufacturing Week ending— Total Transportation Public utility Trade finance, Mining and service Total Durable 34.4 34.6 35.2 35.0 28.1 28.4 28.9 28.8 25.4 25.6 26.0 25.8 30.5 30.8 31.3 31.3 44.9 44.5 45.7 45.8 54.9 55.1 55.5 55.5 48.6 48 4 49.5 48.2 38.2 38 6 39.6 39.6 1951—Nov. 3 10 17 24 49.9 50 2 50.0 48.9 44.3 44 6 44.4 43.3 39.7 40 5 40.2 39.4 48.2 48 1 47.9 46.5 65.0 66 1 66.7 64.4 63.0 63 5 63.4 62.8 60 9 61 3 61.3 60.5 72 1 71 0 70.1 66.4 34.9 35.6 35.7 35.6 36.2 28.7 29.4 29.4 29.4 30.0 25.9 26.7 26.7 26.7 27.4 31.1 31.7 31.7 31.8 32.3 45.6 46.4 46.7 46.2 46.2 55.2 55.7 55.8 55.7 55.9 48.7 '49.6 49.3 49 5 49.8 39.6 40.4 41.3 40 9 41.3 Dec 1 8 15 22 29 50.2 51.3 51.1 51 3 51.6 44.7 45.7 45.6 45 9 46.3 40.3 41.1 40.6 40 6 41.2 48.3 49.6 49.7 50 3 50.6 67.1 70.4 69.2 68 7 68.6 63.4 64.1 63.9 63 7 64.1 61.5 62 0 61 4 60 8 61.0 68.4 71 0 69 7 69 9 69.4 NOv 5 12 19 26 36.5 36.3 36.5 36.2 30.3 30.1 30.3 30.0 27.7 27.7 27.6 27.6 32.6 32.2 32.6 32.1 46.9 46.2 46.8 46.0 56.5 56.6 56.6 56.8 49 8 49 6 50.0 50.0 41 5 39.8 40.0 39.5 1952—Jan 5 12 19 26 52 0 52.2 52.7 53.2 46 6 46.8 47.3 47.9 41 4 41 2 41.7 41.9 51 0 51 6 52.1 52.9 70 0 70 5 72 2 72.0 64 2 64 7 64 7 64.7 61 8 61 4 61 6 61 7 68 8 70 9 73 4 74 7 Dec. 3 10 17 24 31 36.9 37.0 37.4 37.3 37.6 30.6 30.7 31.1 31.2 31.3 28.2 28.3 28.7 28.7 29.2 32.7 32.7 33.2 33.2 33.1 47.9 46.9 47.6 47.8 49.2 57.4 57.6 58.0 57.6 57.9 50.8 51.3 51.9 50.4 52.2 39.6 39.1 40.5 40.0 39.6 Feb 2 9 16 23 52.8 52.6 51.7 50.6 47.5 47.1 46.2 45.1 41.6 41.4 40.3 39.9 52.4 51.9 50.7 49.4 71.4 70.9 70.1 69.6 64 9 65.1 65.2 64.2 61 3 61 5 60.7 59.1 74 3 75 4 77.2 75.2 1950—Jan. 7 14 21 28 38.2 37.4 38.0 37.8 31.8 31.0 31.5 31.4 29.8 29.0 29.7 29.7 33.6 32.7 33.1 32.8 51.2 49.7 50.7 50.4 58.5 58.1 59.0 59.1 52.6 51.6 52.1 51.7 39.9 38.7 39.1 39.0 Mar 1 8 15 22 29 50.6 51.7 51.9 52.0 52.8 45.0 45.9 46.1 46.3 47.1 39.7 40 5 40.6 40.9 41.6 49.4 50.4 50.6 50.7 51.6 69.1 72 3 72.9 72.6 74.8 64.5 65.1 64.7 64.7 64.8 58.5 60 1 59 9 60.2 60.2 81.1 86 9 88.3 85.9 89.4 Feb 4 11 18 25 38.7 38.5 38.5 38 5 32.3 32.1 32.1 32.0 30.6 30.7 30.8 30.8 33.6 33.2 33.2 33 1 51.1 50.2 51.9 51 2 59.6 59.5 59.6 60 0 53.1 52 3 52.3 52 4 39.9 38 8 38.7 38 3 Apr 5 12 19 26 51.9 52 0 50.7 50 8 46.2 46.3 44.9 45 0 40.9 40 8 44.9 45 0 50.7 50 8 49.0 48 8 73.9 74 5 72.1 73 1 64.5 64 6 64.2 64 2 59.9 59 8 59 2 59 i 88.0 89 8 87 1 84 4 Mar. 4 11 18 25 38.8 38.4 39.2 39.6 32.2 31.8 32.7 33.0 31.0 30.2 31.0 31.1 33.2 33.1 34.0 34.5 52.1 50 9 51.3 51.2 61.6 61 7 62.2 62.9 52.9 52 2 52.3 52.9 38.2 38 7 39.3 39.5 Apr. 1 8 15 22 29 38.9 40 0 40.0 40.2 40.6 32.4 33 5 33.6 33.9 34.2 30.6 31 8 31.7 32.3 32.9 33.8 34 9 35.2 35.2 35.4 51.0 51 8 50.6 51.2 51.3 62.0 62 7 62.7 62.3 62.9 52.2 52 8 52.4 52.1 52.2 38.2 39 4 39.3 39.5 39.6 May 3 10 17 24 31 50.7 51 1 50.8 51.5 51.4 45.0 45 5 45.1 45.8 45.7 40.3 40 8 40.2 40 8 40.6 48.9 49 3 49.1 49.9 49.9 72.1 72 9 72.3 74 0 73.6 64.2 64 4 64.6 65.1 65.0 59 0 59 2 59.0 59 2 58.9 83 4 83 0 81.6 83 7 82.8 June 7 14 21 28 52 2 52.4 52 7 53.1 46 5 ' 46.9 47.2 47.6 41 4 41.4 41 9 42.3 50 8 51.5 51 6 52.1 75 6 75.7 75 7 76.6 65 3 64.3 64 6 64.7 59 3 59.6 59 7 60.6 83 7 86.1 84 8 85.5 May 6 41 0 41.0 42.1 41 9 34 6 34.6 35.7 35 6 33 1 32.6 33.8 33 8 35 9 36.2 37.3 37 1 51 7 52.2 51.8 50 9 63 2 63.4 64.4 64 0 52 9 52.8 53.0 53 3 40 6 41.5 42 3 42 6 July 5 12 19 26 51 0 51.1 51 0 50 7 45 9 46.0 45.9 45 7 42 0 42.0 41 9 41 4 49 1 49.2 49 2 49 1 76 3 75.7 75 2 74 8 65 5 65.9 65 7 66 0 60 5 60.2 60 2 60 4 69 7 68.6 69 4 68 8 June 3 10 17 24 42 1 42.9 42 3 42.7 35 9 36.7 36 2 36.5 34 2 35.2 34 8 35.1 37 2 38.0 37 3 37.8 49 7 51.0 50 5 50.9 63 7 63.9 63 2 63.5 53 5 53.7 52 8 54.1 42 2 42.2 41 4 41.7 July 1 8 15 22 29 39.6 39.5 37.9 39.9 40 0 33.8 33.6 32.1 34.0 34 1 32.3 31.9 30.6 32.2 32 3 35.2 35.2 33.4 35.5 35 7 46.8 47.9 49.5 53.9 55 3 59.6 59.3 57.5 58.2 57 7 50.6 50.8 48.0 49.8 50 5 38.2 38.3 38.1 40.3 40 8 Aug 2 9 16 23 30 51 6 51.9 51 6 51.0 49 7 46 7 46.8 46 6 46.0 44 6 42 5 42.4 41 9 41.5 40 2 50 2 50.5 50 6 49.6 48 3 75 3 75.7 74 6 73.1 70 1 66 5 67.0 67 2 67.0 66 5 60 9 61.1 61 2 60.6 59 2 70 2 70.4 70 3 69.2 66 6 49.4 48.3 47.9 48 7 44.3 43.2 42.9 43 8 39.8 38.8 38.5 39 4 48.0 46.9 46.5 47 4 69.2 66.9 65.9 67 0 66.5 65.6 65.3 65 9 58.7 58.0 57.4 58 3 66.2 64.1 62.7 63 6 Aug. 5 12 40.7 41 2 42.1 41.8 34.9 35 3 36.2 35.9 33.2 33 6 34.5 34.2 36.3 36 8 37.7 37.3 55.9 55 3 56.0 55.2 58.0 58 5 59.0 59.2 50.9 51 3 52.6 52.4 42.4 42 4 43.5 43.1 51.4 51 6 50.9 50.5 45.9 46 0 45.3 44.9 42.4 42 5 41.7 41.3 48.7 49 0 48.4 48.0 74.1 74 7 74.1 73.0 65.4 65 3 64.8 64.9 60.0 59 5 59.1 58.5 78.6 77 8 77.8 76.1 1949 Sept 3 10 17 24 Oct 1 8 15 22 29 ... u::::.... 20 27 19 26 Total Sept 6 13 20. 27 Oct 4 11 18. 25 . . ... ... ... ... Durable Nondurable 1^50—Sept. 2 9 16 23 30 41.8 42.0 43.2 43.5 43.4 35.9 36.0 37.2 37.4 37.4 34.4 34.4 35.4 35.7 35.8 37.2 37.3 38.7 38.9 38.7 55.1 55.9 58.2 58.3 57.1 59.3 59.3 59.1 59.6 59.6 52.5 54.2 55.7 56.4 56.7 42.8 43.1 44.4 44.8 44.9 1952—Nov. 1 8 15 22 29 51.4 52.2 52.0 53.1 54.0 45.9 46.8 46.4 47.5 48.4 42.2 43.0 43.1 44.3 44.8 48.9 49.8 49.2 50.2 51.4 74.0 74.9 74.3 76.5 78.7 65.6 66.0 66.6 67.6 68.5 59.1 59.6 59.7 60.6 61.6 76.9 76.8 75.0 76.0 76.4 Oct. 7 14 21 28 44.4 44.0 44.6 44.0 38.4 38.0 38.6 38.1 37.1 36.8 37.4 36.9 39.6 39.1 39.6 39.0 58.2 57.5 58.8 57.1 60.0 59.5 59.8 59.7 58.1 57.9 58.9 57.7 45.5 45.4 45.4 44.6 Dec. 6 13 20 27 54.0 54.6 54.8 55.0 48.3 49.0 49.2 49.5 44.7 45.9 46.0 46.1 51.3 51.7 51.9 52.3 78.8 80.1 81.6 81.0 68.7 68.4 68.0 68.1 62.3 62.9 62.6 61.9 77.9 77.6 78.4 78.5 Nov. 4 11 18 25 43.9 44.3 44.6 45.3 38.0 38.4 38.6 39.4 36.8 37.3 36.8 37.3 39.1 39.4 40.2 41.1 55.8 56.9 59.3 59.3 59.5 59.5 59.4 59.8 58.4 58.4 59.2 59.6 43.9 45.4 46.9 48.2 Dec. 2 9 16 23 30 37.8 37.6 37.9 38.7 39.5 35.6 35.4 35.8 36.6 37.0 39.7 39.5 39.8 40.5 41.6 57.6 60.9 63.0 64.8 65.4 58.9 58.6 58.4 59.5 59.8 57.4 57.6 56.4 57.4 58.3 45.6 46.1 46.2 47.4 48.3 55.6 54.7 54.5 54.7 55.2 50.0 49.1 49.0 49.1 49.7 46.9 46.0 46.0 46.3 46.6 52.6 51.7 51.4 51.4 52.2 81.4 80.5 79.8 80.6 81.8 68.8 68.7 68.6 68.7 69.2 62.6 61.9 61.9 62.4 62.7 78.5 76.7 75.6 75.4 75.9 43.7 43.7 43.9 44.8 45.6 1953—Jan. 3 10 17 24 31 Feb. 7 14 21 28 54.2 54.1 53.9 54.6 48.5 48.5 48.2 48.9 45.5 45.3 45.1 45.8 51.0 51.1 50.9 51.6 78.7 79.1 79.3 80.4 69.0 68.9 68.7 69.0 61.8 61.8 61.8 62.1 73.7 74.1 74.4 77.2 1951—Jan. 6 13 20 27 46.6 47.1 47.9 48.1 40.5 41.0 41.6 42.0 38.2 38.9 39.3 39.8 42.5 42.8 43.6 43.9 66.7 67.6 69.5 69.4 60.7 60.9 61.9 61.1 59.8 59.9 60.6 60.3 49.8 51.4 52.7 52.1 Mar. 7 14 21 28 54.5 55.0 54.8 54.6 48.8 49.4 49.6 49.4 45.6 46.5 46.6 45.9 51.6 51.9 52.1 52.2 79.6 80.7 81.1 80.4 69.1 69.4 68.7 68.4 62.1 62.3 62.6. 62.9 75.9 77.9 77.0 76.8 Feb. 3 10 17 24. .. 49.3 49.6 49.5 49.2 43.1 43.3 43.2 42.8 40.6 40.8 40.4 40.2 45.1 45.4 45.6 45.0 73.0 73.2 71.8 70.0 61.7 61.8 62.2 62.9 61.7 62.8 62.9 62.8 53.3 53.9 54.4 54.1 Apr. 4 11 18 25 53.1 52.2 51.8 50.9 47.9 46.9 46.6 45.7 44.1 43.4 43.1 42.4 51.0 49.9 49.5 48.4 77.3 75.8 75.0 73.7 67.3 66.8 66.6 66.0 61.8 61.1 60.6 60.0 76.2 74.2 73.8 70.9 Mar. 3... 10.., 17. .. 24... 31... 49.1 49.0 48.2 47.7 47.5 42.8 42.7 42.0 41.6 41.5 40.3 40.3 39.8 39.4 39.2 44.9 44.7 43.9 43.5 43.4 69.4 69.0 67.8 65.8 65.9 63.6 63.2 62.4 62.0 61.7 62.5 62.1 61.3 61.1 60.6 53.2 53.4 51.1 50.6 50.3 May 2 9 16 23..; 30... 51.9 52.3 52.2 52.6 51.5 46.8 47.2 47.1 47.3 46.2 43.6 44.1 43.8 44.0 43.1 49.4 49.8 49.8 50.0 48.8 75.3 75.8 76.3 78.1 75.9 66.3 66.3 66.6 67.0 66.2 60.9 61.6 61.4 61.9 61.2 72.3 73.0 72.4 73.0 70.7 Apr. 7. .. 14... 21... 28... 48.2 49.4 49.1 49.9 42.2 43.5 43.3 44.1 39.8 40.7 40.5 40.8 44.3 45.9 45.6 46.9 67.5 68.6 68.1 68.8 61.6 61.7 61.8 61.9 60.4 61.1 61.0 61.4 51.8 53.4 53.7 55.8 June 6 13... 20... 27... 50.5 49.9 50.9 50.7 45.3 44.8 45.0 45.6 42.0 41.4 41.5 41.9 48.6 47.7 47.9 48.7 74.3 73.3 73.5 75.2 65.3 64.4. 64.0 64.9 60.3 59.9 59.6 59.9 69.8 69.0 69.2 69.9 M a y 5. .. 12... 19. . 26. . . 50.4 49.5 48.0 47.2 44.6 43.8 42.4 41.5 40.8 39.6 38.5 37.7 47.7 47.3 45.6 44.7 69.6 67.8 65.1 63.4 62.3 61.2 60.8 60.6 61.9 61.3 59.4 59.2 56.2 56.2 54.8 52.6 45.9 46.0 45.9 45.7 42.0 42.0 41.9 41.4 49.1 49.2 49.2 49.1 76.3 75.7 75.2 74.8 65.5 65.9 65.7 66.0 60.5 60.2 •' 60.2 60.4 69.7 68.6 69.4 68.8 June 2.. 9.. 16.. 23. . 30.. 48.0 48.2 49.1 48.1 .46.8 42.4 42.5 43.6 42.6 41.3 38.3 38.2 38.5 37.5 36.2 45.7 46.1 47.8 46.9 45.7 64.6 65.2 65.5 63.3 59.6 61.2 61.1 61.0 60.9 60.4 59.4 59.3 59.3 58.8 57.9 53.7 54.9 56.0 54.0 53.6 18... 25... Aug. 1... 8... 15... 22... 29... 51.0 51.1 51.0 50.7 51.6 51.9 51.6 51.0 49.7 46.7 46.8 46.6 46.0 44.6 42.5 42.4 41.9 41.5 40.2 50.2 50.5 50.6 49.6 48.3 75.3 75.7 74.6 73.1 70.1 66.5 67.0 67.2 67.0 66.5 60.9 61.1 61.2 60.6 59.2 70.2 70.6 70.3 69.2 66.6 July 7. . 14.. 21.. 28.. 48.1 48.7 48.6 50.0 42.8 43.4 43.2 44.5 37.8 38.4 37.7 38.6 47.0 47.6 47.9 49.5 62.1 62.7 63.0 66.3 61.1 61.5 61.6 62.4 58.9 59.5 59.1 59.7 54.9 55.2 56.3 62.2 Sept. 5... 12... 19... 26... 49.4 48.3 47.9 48.7 44.3 43.2 42.9 43.8 39.8 38.8 38.5 39.4 48.0 46.9 46.5 47.4 69.2 66.9 65.9 67.0 66.5 65.6 65.3 65.9 58.7 58.0 57.4 58.3 66.2 64.1 62.7 63.6 18 25 50.7 50.6 51.1 50.9 45.5 45.3 45.7 45.6 39.4 39.6 40.2 40.0 50.6 50.1 50.4 50.5 66.2 66.0 66.3 65.3 62.7 62.8 63.8 63.2 60.0 60.3 60.6 60.3 63.6 62.6 63.8 64.6 Oct. 2... 9... 16... 23... 30... 40.7 41.3 41.8 41.5 41.4 51.2 52.1 52.3 50.8 50.4 66.6 68.3 69.2 68.9 68.8 63.7 64.2 63.7 63.5 63.4 61.0 62.3 63.3 63.4 62.9 65.4 67.1 69.5 66.8 66.9 39.9 40.1 41.4 41.9 42.5 48.2 48.0 49.0 49.3 49.6 67.1 67.3 69.4 69.0 69.3 66.7 67.0 67.6 67.7 67.4 58.8 58.8 59.3 59.3 59.1 Sept. 1 8 15 22 29 46.4 47.2 47.5 46.6 46.3 44.5 44.4 45.6 45.9 46.4 63.3 62.5 63.5 65.1 65.9 51.6 52.5 52.7 52.0 51.7 49.4 49.4 50.5 50.7 51.0 Nov. 6 13... 20... 27... 51.4 51.2 51.0 51.7 46.6 46.3 46.1 46.8 42.6 42.4 42.1 42.9 50.0 49.6 49.4 50.0 69.6 68.7 68.2 69.0 67.8 68.2 68.4 68.9 60.3 60.6 61.1 61.0 66.5 68.6 67.6 68.3 Oct. 6 13 20 27 52.7 52.7 51.0 49.4 47.2 47.1 45.5 43.8 42.5 42.7 41.0 39.6 51.2 50.8 49.3 47.3 71.4 70.8 67.7 65.0 63.9 64.1 63.2 62.6 64.2 63.9 62.7 60.5 69.8 72.6 71.2 71.6 Dec. 4... 11... 18... 24... 31... 52.3 51.7 52.2 51.8 51.6 47.4 46.8 47.4 47.0 46.9 43.4 42.6 43.2 42.7 42.6 50.7 50.3 50.9 50.7 50.6 69.4 67.7 68.3 66.7 65.8 69.4 69.1 68.9 68.8 68.8 62.3 61.4 61.1 60.9 61.1 68.6 66.8 67.6 66.9 65.9 Aug -!?:: In V::: 15. COMMON STOCK PRICE INDEXES: SECURITIES AND EXCHANGE COMMISSION — Continued B. WEEKLY, 1939-MAY 1964 — Continued [1957-59 = 100] Manufacturing Week ending— Total Total Durable Nondurable Transportation Public utility Trade, finance, Mining and service 1954—Jan. 8 15 22 29 52.0 53.0 53.7 54.2 47.3 48.2 49.0 49.5 43.1 44.2 44.9 45.3 50.7 51.5 52.4 53.0 67.1 69.0 70.5 72.2 69.1 69.8 70.2 70.5 61.5 62.4 62.9 63.2 68.2 69.5 70.5 71.2 Feb. 5 12 19 26 54.7 54.5 54.2 54.6 50.0 49.7 49.3 49.8 45.6 45.6 45.2 45.8 53.5 53.1 52.7 53.1 73.0 73.2 72.2 71.8 70.8 71.2 71.0 71.6 63.4 63.8 63.1 63.2 72.1 72.3 74.2 74.4 Mar. 5 12 19 26 55.4 55.6 55.9 55.4 50.6 51.0 51.3 50.8 46.5 46.7 47.1 46.8 54.1 54.5 54.8 54.1 72.6 72.0 72.2 70.2 72.1 72.4 72.5 72.1 63.3 62.9 62.6 62.9 76.3 75.1 76.3 75.7 Apr. 2 9 16 23 30 56.9 57.4 58.2 58.1 59.1 52.4 53.1 54.0 54.0 55.1 48.6 49.4 50.0 49.9 51.2 55.6 56.2 57.3 57.4 58.3 71.6 71.6 71.7 70.7 72.0 72.6 72.8 73.1 73.1 73.6 64.4 64.0 64.4 64.6 65.0 77.8 77.9 78.0 77.3 78.1 May 7 14 21 28 59.5 59.7 60.1 60.4 55.4 55.6 56.0 56.3 51.6 51.5 52.1 52.4 58.5 59.1 59.3 59.5 73.7 74.1 75.2 75.1 74.1 74.0 74.7 74.7 65.4 66.2 66.6 66.6 77.6 78.3 80.1 79.6 June 4 11 18 25 60.2 59.2 60.2 60.8 56.0 55.0 56.0 56.7 52.2 51.4 53.0 54.6 59.2 57.9 58.5 58.4 75.5 74.9 77.0 77.3 75.0 73.7 74.3 74.8 66.9 66.0 67.0 67.9 79.8 77.7 77.8 76.5 July 2 9 16 23 30 61.5 62.3 62.2 62.9 63.7 57.6 58.5 58.0 58.7 59.6 55.6 56.8 56.5 57.1 57.8 59.3 59.8 59.2 59.9 61.1 76.5 78.0 79.2 80.0 80.8 75.0 76.0 77.0 78.2 78.1 68.5 69.0 69.2 69.2 70.3 74.9 75.3 73.9 75.8 76.5 Au8 63.0 63.7 64.5 63.3 58.8 59.5 60.4 59.2 57.1 57.6 58.0 56.7 60.2 61.1 62.3 61.1 79.8 80.9 81.4 78.5 77.7 77.9 78.7 77.8 70.5 71.1 72.1 71.6 74.9 77.2 78.5 76.8 Sept. 3 10 17 24 63.1 63.7 65.0 66.3 59.0 59.7 61.3 62.7 56.5 57.3 58.6 59.9 60.9 61.7 63.4 65.0 78.1 79.2 80.0 81.7 77.4 77.3 77.5 77.7 71.0 72.0 72.7 74.3 77.9 78.6 78.4 78.6 Oct. 1 8 15 22 29 65.9 66.4 64.5 65.5 64.5 62.4 62.9 60.9 62.0 61.0 59.8 60.5 58.6 60.2 59.3 64.4 64.8 62.8 63.4 62.3 80.2 80.8 81.2 82.8 81.3 77.8 77.7 75.9 76.1 75.6 73.5 74.4 72.3 73.0 71.5 79.0 80.6 78.7 79.0 76.9 Nov. 5 12 19 26 66.5 68.2 68.2 70.2 63.0 64.8 64.6 66.9 61.6 63.5 63.7 65.1 64.0 65.7 65.3 68.3 83.7 87.9 88.7 90.4 77.4 78.2 78.3 79.2 74.2 76.0 77.2 78.2 80.0 80.6 81.4 83.4 Dec. 3 10 17 24 31 70.7 70.9 71.7 72.3 73.6 67.4 67.6 68.3 69.0 70.5 65.0 65.1 66.5 67.2 69.1 69.3 69.5 69.7 70.4 71.5 92.0 93.7 97.0 98.8 99.8 79.9 79.7 79.7 79.8 80.4 78.3 78.2 78.0 78.5 79.5 83.7 88.2 93.0 94.4 94.9 if:::::::: 20 27 - Manufacturing Week ending— Total Total Durable Nondurable Transportation Public utility Trade, finance, Mining and service 1956—Mar. 2 . . 9.. 16.. 23.. 30.. 91.3 92.9 95.1 95.9 95.7 90.7 92.6 95.2 96.3 96.1 88.2 90.9 93.9 94.0 92.8 92.7 93.8 96.2 98.0 98.8 112.5 114.9 116.8 118.0 118.5 87.9 88.4 89.0 88.9 88.5 93.3 95.0 95.5 94.7 93.7 106.2 108.0 108.5 112.0 111.1 Apr. 6.. 13.. 20.. 27.. 96.7 95.0 94.6 95.2 97.6 95.6 95.3 95.9 92.4 91.5 91.2 91.4 101.8 98.9 98.6 99.5 117.1 116.3 117.7 119.3 88.0 87.5 86.6 86.6 94.1 92.8 92.6 92.2 110.9 107.9 106.6 107.1 May 4 . . 18*.'. 25.. 96.5 94.2 92.8 89.1 97.5 94.8 93.2 89.1 92.3 90.0 88.4 84.3 101.7 98.7 97.1 92.9 119.0 117.8 115.6 110.0 87.0 86.5 86.3 85.3 93.0 90.4 89.0 86.5 110.3 106.9 107.1 101.9 June 1.. 8.. 15.. 22.. 29.. 90.7 89.7 92.1 92.4 93.2 91.0 89.9 92.6 92.9 93.9 86.3 85.6 87.8 88.5 90.2 94.8 93.4 96.5 96.6 96.9 109.9 108.4 111.9 112.0 112.1 85.9 85.1 86.0 86.0 86.2 87.4 86.8 88.4 88.0 101.4 101.0 104.6 104.6 103.6 20.. 27.. 95.1 96.2 97.4 97.2 96.3 97.3 98.7 98.3 92.0 93.7 95.0 94.8 99.7 100.2 101.7 101.0 112.8 113.0 113.1 113.7 87.0 87.5 88.1 89.2 90.0 93.2 93.3 92.7 106.4 106.0 110.3 108.8 Aug. 3 . . 10.. 17.. 24.. 31.. 98.3 97.5 96.9 95.3 94.2 99.5 98.7 98.1 96.4 95.2 97.7 97.3 97.0 95.8 95.0 101.0 99.9 99.1 96.9 95.3 114.1 113.3 111.2 109.7 108.0 89.5 89.2 88.9 88.0 87.4 93.6 92.5 92.0 90.6 90.0 112.2 111.3 109.7 107.7 105.2 Sept. 7.. 14.. 21.. 28.. 94.8 93.6 92.2 89.6 95.9 94.6 93.1 90.3 96.0 95.4 94.2 91.2 95.9 93.9 92.3 89.6 107.1 107.1 106.3 102.5 87.7 86.6 85.9 84.2 90.7 89.7 88.1 85.3 105.2 103.3 102.2 98.3 Oct. 5.. 12.. 19.. 26.. 91.5 92.4 91.4 91.4 92.7 93.6 92.2 92.5 93.6 95.1 94.1 93.7 92.0 92.4 90.7 91.5 105.9 107.3 108.6 107.9 84.0 84.5 84.6 84.4 87.0 88.8 87.9 87.2 99.5 99.8 98.4 97.2 Nov. 2 . . 9.. 16.. 23.. 30.. 92.5 91.7 90.7 89.8 89.6 93.6 92.6 91.4 90.3 90.2 94.5 94.1 93.5 92.2 91.3 92.9 91.3 89.6 88.7 89.3 107.2 105.8 105.1 104.0 103.3 84.8 85.2 84.9 84.3 84.2 88.2 88.0 87.9 85.9 84.3 100.7 99.6 104.2 107.6 107.7 Dec. 7.. 14.. 21.. 28.. 92.9 92.2 91.8 92.4 94.3 93.7 93.3 93.8 95.4 94.9 94.6 94.4 93.4 92.7 92.1 93.3 107.8 106.4 106.2 105.5 84.5 84.2 84.1 84.5 85.3 84.6 83.3 83.8 107.0 106.2 104.3 106.5 1957—Jan. 4 . . 11.. 18.. 25.. 92.7 92.1 88.9 89.3 93.7 92.7 89.1 89.5 93.5 92.5 88.8 88.9 94.0 93.0 89.4 90.2 107.5 107.3 102.6 102.3 86.5 87.2 86.5 86.9 84.8 84.8 82.1 82.5 109.2 109.5 106.8 106.2 86.8 87.3 87.2 88.8 86.5 87.1 87.0 88.0 85.8 87.0 86.1 89.5 87.1 87.2 87.8 101.4 98.5 98.3 97.2 87.7 87.1 87.2 87.2 82.8 81.1 82.1 82.3 104.1 101.4 103.1 102.6 July .f:: Feb. 1.. 8.. 15.. 21.. 72.3 72.3 72.4 73.5 69.2 69.0 69.0 70.2 67.9 68.0 68.2 69.9 70.1 69.7 69.5 70.3 98.4 96.3 95.8 99.0 79.6 80.3 81.0 81.2 77.9 79.1 79.0 80.7 91.4 92.3 92.1 92.3 25 75.0 75.8 75.7 75.2 72.0 72.7 72.4 71.7 71.3 71.7 71.8 70.9 72.5 73.4 72.9 72.3 98.9 100.8 102.5 103.7 81.8 83.5 83.6 83.7 80.8 81.5 80.9 80.7 91.4 92.5 91.0 93.3 Mar. 4 11 18 25 76.8 73.4 74.1 75.8 73.2 69.9 70.6 72.5 72.7 69.1 70.2 72.0 73.5 70.4 70.9 72.8 106.5 100.9 101.1 104.3 85.5 82.6 82.6 83.8 83.0 79.1 79.2 81.0 94.0 89.9 92.1 92.9 75.8 76.4 77.5 77.5 77.7 72.5 73.0 74.3 74.3 74.5 72.0 72.2 73.6 73.4 73.4 72.8 73.6 74.7 74.9 75.3 104.4 107.0 109.1 110.0 111.2 83.5 84.0 84.6 84.5 84.8 80.6 81.7 82.1 81.4 81.1 92.8 91.7 91.4 90.5 89.2 May 6 13 20 27 77.8 76.9 77.6 78.0 74.5 73.6 74.3 74.7 73.1 71.3 72.4 73.0 75.5 75.4 75.7 76.0 111.4 109.0 109.6 110.7 85.4 84.6 85.0 85.4 81.7 81.2 83.0 83.2 89.2 87.1 88.8 89.2 June 3 10 17 24 79.0 80.4 82.3 83.5 75.7 77.5 79.8 81.4 74.1 75.9 78.5 78.9 77.0 78.8 80.8 83.3 112.9 113.7 113.8 114.6 85.7 85.5 85.6 85.4 84.4 85.4 87.3 88.2 89.4 92.3 93.0 92.8 July 1 8 15 22 29 84.3 85.5 85.4 86.2 86.5 82.5 83.9 83.6 84.4 84.8 79.3 81.1 81.6 82.8 83.7 85.0 86.2 85.1 85.6 85.5 114.2 111.9 112.4 113.5 112.1 85.4 85.7 87.0 87.7 88.1 87.9 90.2 89.6 89.6 89.0 94.6 91.7 92.4 93.3 92.2 Aug. 5 12 19 26 84.7 84.4 83.8 85.6 82.8 82.5 81.9 84.1 82.4 81.2 81.1 83.6 83.0 83.5 82.4 84.4 109.5 108.6 108.9 110.6 87.4 86.7 86.3 85.9 88.3 88.6 88.4 89.7 91.3 91.1 90.1 92.0 Sept. 2 9 16 23 30 86.7 87.2 88.9 89.7 85.8 85.4 86.0 87.8 88.6 84.5 84.8 85.4 87.7 88.9 85.1 85.8 86.4 87.8 88.2 83.8 110.5 113.1 114.2 114.2 107.9 86.2 86.0 86.6 86.8 84.8 90.7 91.8 95.0 98.4 93.1 91.8 93.6 94.9 94.0 89.7 Oct. 7 14 21 28 83.5 81.8 84.1 83.7 82.0 80.2 82.8 82.2 82.2 79.9 82.5 81.6 81.7 80.3 83.0 82.6 105.0 103.1 105.5 104.5 84.0 82.9 83.7 84.0 90.9 88.6 90.3 90.5 87.0 83.4 85.9 88.0 Nov. 4 11 18 25 86.2 88.2 88.9 89.2 85.2 87.4 88.0 88.3 83.9 87.0 88.1 . 88.5 86.1 87.6 87.8 87.9 105.7 109.2 109.4 114.8 84.9 85.8 85.6 85.6 92.2 94.7 97.1 97.3 89.0 89.7 92.5 94.6 Dec. 2 9 16 23 30 89.2 90.0 88.8 89.7 90.0 88.2 89.4 88.1 89.3 88.7 87.9 89.2 87.5 88.7 88.5 88.3 89.4 88.5 89.6 90.5 114.2 113.5 110.5 111.0 111.1 86.0 85.8 85.1 85.3 85.6 96.5 95.2 94.0 94.2 94.2 96.3 97.2 94.4 94.8 94.6 1956—Jan. 6 13 20 27 89.4 88.5 85.6 86.1 88.9 87.8 84.7 85.1 86.9 85.6 82.5 83.0 90.4 89.5 86.4 86.7 110.1 110.3 105.7 106.8 85.8 85.5 84.5 85.3 93.5 92.5 88.8 88.9 97.1 97.3 95.7 96.6 Feb. 3 10 17 24 88.7 86.8 88.6 90.2 88.0 85.7 87.8 89.7 85.3 83.0 85.8 87.7 90.1 .87.9 89.4 91.2 109.5 106.9 109.1 110.8 86.4 86.0 86.6 87.1 91.1 89.7 90.8 91.7 101.4 101.9 102.4 104.3 1955—Jan. 7 14 21 28 Feb. 4 11 18 Apr ^:::::::: 15 22 29 1957— Mar. 1. 8. 15. 22. 29. 87.9 88.5 88.7 88.7 89.0 87.8 88.4 88.7 88.6 89.0 86.8 87.0 87.3 87.0 87.4 88.8 89.8 90.0 90.0 90.6 97.6 97.4 96.6 97.1 97.3 87.6 87.7 87.7 87.9 87.8 81.8 83.6 83.5 83.5 83.2 105.0 106.1 106.5 106.9 107.3 Apr. 5. 12. 18. 26. 89.8 91.4 92.3 92.7 90.1 92.1 93.1 93.4 88.6 90.7 91.9 92.4 91.5 93.3 94.3 94.4 97.9 98.3 97.8 100.1 88.2 88.5 88.8 89.2 83.6 83.8 83.6 83.6 106.8 109.9 111.4 112.9 May 3 10 94.4 94.9 96.0 96.0 96.2 95.5 96.0 97.4 97.2 97.5 94.0 94.7 96.1 94.9 94.8 96.9 97.2 98.5 99.3 100.0 100.8 101.3 101.8 100.3 99.7 89.6 89.9 90.4 90.6 90.6 84.2 85.3 85.1 85.5 85.6 115.9 118.2 120.3 127.5 127.8 June 7. 14. 21. 28. 96.7 97.9 95.6 96.2 98.3 99.9 97.7 98.4 95.2 97.4 95.2 96.0 101.2 102.3 100.0 100.6 99.3 100.6 98.4 99.7 89.7 89.4 86.9 86.7 85.3 85.0 82.8 83.3 129.1 125.9 124.7 122.6 July 5. 12. 19. 26. 99.0 99.8 98.7 98.1 101.6 102.5 101.4 100.8 99.2 100.3 99.4 98.5 103.9 104.5 103.3 102.9 100.4 104.2 103.0 102.8 88.2 88.3 87.1 86.7 85.2 85.6 85.5 85.1 126.1 127.9 126.2 123.3 Aug. 2. 9. 16. 23. 30. 96.7 95.1 92.9 90.2 91.7 99.0 97.2 94.6 91.4 93.3 96.1 94.5 91.9 88.8 90.7 101.7 99.7 97.1 93.8 95.7 101.6 98.4 96.6 93.3 93.4 86.4 86.0 85.4 85.0 85.5 84.6 83.9 83.2 81.1 81.7 121.1 117.4 115.4 108.1 111.6 Sept. 6. 13. 20. 27. 90.5 90.8 88.5 86.3 91.9 92.3 89.6 87.1 89.3 89.2 86.2 84.4 94.4 95.2 92.7 89.7 92.0 91.2 88.1 85.8 84.7 84.5 84.2 83.1 81.6 82.2 82.1 81.0 109.7 110.4 104.1 100.6 Oct. 4. 11. 18. 25. 86.9 82.6 81.1 81.8 87.6 82.8 81.2 82.3 84.3 80.1 78.4 79.4 90.6 85.2 83.8 84.9 86.6 80.7 79.0 78.5 84.0 82.4 81.9 80.9 81.8 79.6 76.9 76.9 99.4 90.7 87.5 88.6 Nov. 1. 15. 22. 29. 81.4 80.9 81.4 82.3 84.1 81.7 81.2 81.6 82.6 84.5 79.0 78.4 79.2 79.3 80.6 84.2 83.9 83.8 85.6 88.1 77.7 76.6 76.1 75.5 76.7 81.6 81.5 82.4 83.3 84.1 77.2 76.9 77.5 78.2 79.1 85.8 83.8 83.6 87.9 92.8 Dec. 6. 13. 20. 27. 83.0 82.0 79.4 80.1 83.4 82.1 79.0 79.9 79.1 77.5 74.2 75.0 87.3 86.2 83.4 84.3 73.1 74.1 70.8 70.9 84.1 84.0 83.5 83.9 78.7 77.9 76.8 76.9 88.2 88.2 83.3 82.6 1958—Jan. 3. 10. 17. 24. 31. 82.4 81.4 82.9 84.1 84.1 82.2 80.9 82.3 83.5 83.4 78.9 77.4 78.8 79.9 79.9 85.4 84.1 85.5 86.8 86.7 75.4 73.4 79.1 78.4 79.7 85.7 85.9 87.2 88.4 88.3 79.2 79.5 81.4 82.9 83.6 84.6 82.1 86.5 88.2 87.4 Feb. 7. 14. 21. 28. 84.2 83.5 82.4 82.3 83.4 82.5 81.2 81.1 80.2 79.6 78.9 78.6 86.3 85.2 83.4 83.4 79.4 78.6 77.3 75.8 88.6 88.7 88.6 89.0 84.5 84.6 84.3 83.8 87.0 85.4 82.7 81.6 Mar. 7. 14. 21. 28. 84.7 85.3 85.4 84.9 84.0 84.6 84.7 84.0 81.1 81.9 81.9 80.7 86.7 87.2 87.2 87.0 77.3 77.9 77.4 76.9 89.1 89.2 89.6 89.7 85.8 86.3 86.9 86.6 86.5 88.0 89.9 91.5 Apr.3. 83.5 84.0 86.0 87.3 82.2 82.6 84.7 86.1 78.5 78.6 80.5 82.0 85.7 86.3 88.6 89.9 74.9 76.5 80.3 81.3 90.0 91.1 92.6 93.2 85.4 86.0 87.4 89.3 88.0 88.4 90.5 91.7 17 24 31 18. 25. 15. COMMON STOCK PRICE INDEXES: SECURITIES AND EXCHANGE COMMISSION — Continued B. WEEKLY, 1939-MAY 1964 — Continued [1957-59 = 100] Manufacturing Total Transportation Public utility Trade, finance, Mining and service Ma nufacturing Public utility 106.0 106.5 103.6 100.9 102.9 97.1 97 3 95.6 93.9 94.6 130.9 132.3 131.5 130.3 129.9 132.2 133.7 131.6 129.1 128.3 69.8 69.7 68.0 67.0 68.5 117.5 119.3 120.5 121.9 103.0 105.9 105.5 106.1 92.7 97.0 97.2 97.4 129 A 131.3 133.3 136.2 128.7 132.0 132.9 133.7 70.9 72.4 71.0 72.2 111.9 109 7 107.3 104.6 104.7 119.4 117 1 113 4 110.2 110.3 104.9 102 8 101 7 99.5 99.5 94.5 93 6 91.6 89.5 88.4 137.3 136 7 135.4 132.2 129.4 132.5 129 6 127 0 125.1 121.8 72.8 71 0 68 6 68.3 69.7 109.6 111.3 107.7 107.8 105.5 107.0 103 6 103.6 110.3 111.8 107 7 107.7 101.0 102.5 99 8 100.0 88.3 89.3 87 4 87.1 130.7 134.0 128 5 128.9 122.7 124.5 122 1 122.1 72.8 73.0 70 7 70.9 Nov. 4 11 18 25 111.0 113.0 112.8 113.5 107.2 109.1 108.6 109 2 111.5 114.1 112.9 113 3 103.3 104.6 104.7 105 4 90.4 92.3 92.1 92 0 130.0 132.0 132.5 133 5 125.3 129.1 130.8 131 9 73.8 73.8 73.3 75 4 106.3 107 3 108.0 106.5 107.9 Dec. 2 9 16 23 30 111.8 114.6 115.8 116.2 117.4 107.2 110.3 111.5 111.0 111.6 111.2 115.3 116.7 114.6 114.9 103.5 105.7 106.8 107.6 108.6 92.1 92.2 92.3 92.7 93.9 133.4 135.5 136.5 141.1 146.2 129.8 131.7 133.0 133.9 133.4 74.3 76 7 78.8 80.8 80.3 106.7 109 1 110.2 108 8 108.7 108 7 107.3 104 2 1961—Jan. 6 13 20 27 118.3 120.5 121.2 123 6 113.0 115.1 115.5 117 5 117.0 118.5 119.0 120 1 109.2 112.1 112.3 115 1 97.8 100.5 102.2 100 6 144.4 147 1 148.8 154 4 132.5 134 5 135.3 136 9 83.3 83 8 86.1 87 2 105.2 106.6 113 2 113.1 110.3 111.7 113.5 113.4 102.7 103.8 103.8 104.0 Feb. 3 10 17 24 125.5 124.0 125.4 126.7 119.8 117.8 119.0 120.4 122.2 119.1 121.2 123.0 117.6 116.7 117.0 118.0 102.2 101.3 103.5 103.5 155.2 154.8 156.2 157.7 137.0 138.1 141.3 143.0 89.7 88.6 89.7 88.2 114 4 116.2 119.8 119 5 117.6 114 6 119.0 117.6 116 8 116.8 ' 114 5 114.5 116.3 118 0 116.7 106 3 104.2 105.0 108 0 106.6 Mar 3 10 17 24 30 . . . . 129 1 128.1 130.4 . . . 130 1 131.3 123 3 122.4 125.2 124 0 124.6 127 0 126.6 129.6 127 8 128.2 119 9 118.5 121.1 120 5 121.3 103 2 102.0 103.8 106 6 105.5 158 6 156.6 157.0 159 6 164.4 144 9 145.1 147.3 147 4 148.6 88 0 87.6 90.3 90 1 90.2 106.7 106.4 108 0 107.7 116 5 116.3 119 3 118 2 116 5 117.4 118 6 119 7 115.7 117.6 120 0 119.4 105.5 102.8 103 8 101.4 Apr 7 14 21 28 133.1 134.2 132 7 132.1 125.7 126.8 125.5 125.1 128 5 129.8 128 4 127.3 123.3 124.1 122 8 123.1 104.6 103.3 102.8 102.8 169.8 170.9 168 2 166.6 149.9 151.1 150 3 150.2 94.5 95.3 92 8 91.3 113.1 115 0 113.9 112 5 110.9 110 9 111.1 110 0 118.4 120 5 118 8 117 0 120.0 121 5 121.2 120 3 120.3 120 9 119.4 118 6 101.7 104 6 103.0 102 4 May 5 12 19 26 134.5 134 5 136.3 . . . . 134 2 127.5 127 0 128.8 127 3 130.5 129 8 132.1 130 2 124.8 124 4 125.8 124 5 105.8 107 0 109.4 107 7 168.7 171 5 173.0 166 8 152.3 151 5 153.3 155 4 93.8 95 4 99.3 99 2 114 113 117 118 110 110 114 114 119 1 119 4 122.0 120 6 121 121 125 123 118 3 119 0 120.6 120 2 103.1 103 5 105.3 101 4 June 2 134.9 134 8 131.9 131 9 130.7 128.0 128 1 125.4 125 0 123.7 130.9 130 6 127.1 126 4 125.2 125.4 125 9 123.9 123 7 122.3 106.9 107 1 104.2 103 6 103.8 167.1 166 3 161.8 163 0 161.8 156 0 155 7 154.8 157 0 156.4 99 5 98 1 95 0 96 9 95.6 Total Durable Nondurable 87.9 88.5 87.2 88.2 88.7 86.8 87 3 85.7 86.8 87.3 82.5 83 7 82.1 83.6 84.4 90.8 90.6 89.1 89.7 89.9 82.3 84.8 82.0 84.2 85.4 93.1 93.2 93.3 94.1 94.3 90.2 92.1 91.3 92.0 92.2 93.6 96.6 94.8 95.9 96.8 I960—July 1 89.7 90.6 90.2 90.3 88.5 89.4 89.1 89.1 85.1 85.7 85.6 85.6 91.7 92.7 92.3 92.4 86.6 88.0 87.2 87.6 94.7 95.2 94.4 95.0 92.5 93.1 92.9 93.3 97.3 100.3 99.7 99.9 Aug. 5 91.5 92 0 91 7 94 3 90.4 90 8 90 7 93.8 86.6 87 3 88.8 91.6 93.9 94 1 92 4 95.8 88.4 89 5 91 2 94 2 95.6 96 4 95 5 95.8 94.2 94 2 94 0 94 8 101.5 101 4 101.1 103.6 Sept. 2 8 15 22 29 95.4 96.5 95.3 95 9 95 9 95.0 96.3 94.9 95 3 95 4 93.6 94.2 93.2 93 6 93.7 96.4 98.2 96.4 96 9 97.0 94.9 96.5 94.2 96 3 95.7 96.5 96.1 95.7 96 1 96 2 95.9 97.3 97.9 100 5 100 3 104.7 108.4 105.5 106.2 104.5 Sept. 5 12 19 26 96.4 97.6 99.5 100 1 95.9 97.3 99.4 99 8 94.3 96.4 98.9 99 6 97.3 98.2 99.9 100 0 95.6 96.5 102.1 102 4 96.9 97 3 98.6 99 4 100.8 101.1 102.0 102 2 Oct 3 101.6 103.7 103.9 102.5 103.5 101.6 104 0 104.2 102.4 103.6 101.3 104.5 104.8 102.7 103.8 101.9 103.6 103.7 102.1 103.4 104.2 104.6 104.8 105.1 106.1 99.7 101 3 101 7 101.7 102.3 105.4 107 2 106.4 106 0 105.6 107.3 106.1 106 0 105.9 107.0 105.2 105 4 105.3 107.5 107.0 106 5 107.4 110 5 110.6 111 5 105.9 107.5 109.3 109.5 105.6 107.3 108.2 108.5 104.7 107.5 109.0 110.1 106.4 107.2 107.5 107.1 112 1 112.7 112.8 113 2 111.9 111 4 111.3 111.4 1119 110.4 113 6 113.6 113.6 113 0 111.6 109 8 110.0 112 4 112 2 107.9 107.8 110 4 110 0 113.7 114 7 114 2 113 0 114 113 117 117 1958—May 2 9 16 23 29 June 6 13 20 27 July 3 U 18 25 Aug. 1 10 17 24 31 Nov 7 14 21 28 Dec 5 12 19 26 1959 Jan 2 9 16 23 30 Feb 6 13 20 26 Mar 6 13 20 27 Apr 3 10 17 24 ... ... 4 9 5 6 Total Total Durable Nondurable 116.4 117.1 114.3 111.4 113.4 113.6 114.1 110.7 107.4 110.2 121.8 122.3 118.5 114.5 118.0 113.2 115.5 116.2 117.5 110.0 112.3 112.7 113.7 30 116.1 114 2 112.0 109.3 108.7 Oct. 7 14 21 28 105.4 104.3 106.4 105 7 103.7 103 8 104.4 104.7 104.4 103.4 105 6 105 1 104 4 110.0 110.2 110.6 112.1 109 5 109.2 109.4 111 0 109.4 109.1 109.5 113 2 112.7 111.9 112 8 112.4 111 1 112 111 115 116 6 8 7 4 Trade, finance, Mining and service Transportation Week ending— 7 8 2 8 7 1 3 3 8 7 7 2 g 15 22 29 12 19 26 9 16 23 9 16 23 30 1959—May 1 8 15 22 29 117.0 . . 116.2 117.9 118.3 119.1 116.1 115.6 117.6 117.8 119.0 118.4 117.4 119.9 120.9 123.0 114.1 114.0 115.5 115.1 115.3 119.9 117.5 118.9 121.5 120.0 121.4 119.3 119.7 120.2 120.3 119.2 119.4 120.9 120.9 121.7 98.8 98.2 99.5 99.8 97.3 June 5 12 19 26 ... 116.7 116 3 ... 116.0 117.7 116.5 116 4 116.2 118.0 120.4 121 5 121.6 123.3 113.0 111 8 111.2 113.2 117.9 118 5 119.4 121.0 117.5 115 2 114.4 115.3 121.0 121 2 121.7 124.0 94.8 94 1 92.9 94.9 July 3 10 17 24 31 120 4 ... 121.7 120.3 ... 121.2 122.9 120 9 122.2 120.7 122.0 124.1 127 0 129.5 127.5 129.3 128.9 115 3 115.5 114.6 115.2 119.7 122 1 123.2 119.4 119.0 120.0 118 0 119.1 118.2 118.6 118.6 125 7 127.5 125.7 125.4 126.1 93 1 95.3 94.4 93.0 99.0 Aug 7 14 21 28 121.6 120.4 120.0 120.9 122.4 121.0 120.4 121.5 126.9 125.3 125.0 127.5 118.3 117.0 116.1 116.1 117.0 115.2 116.0 116.2 119.2 119.3 118.8 118.8 125.3 123.6 124.9 126.3 97.7 96.5 94.9 94.6 Sept. 4 11 18 25 118.9 ... 116.7 114.1 115.5 119.5 117.2 114.4 115.9 125.0 123.3 120.2 122.3 114.3 111.6 109.1 110.0 113.0 111.5 107.8 110.2 117.3 114.7 112.3 114.2 124.9 123.6 123.0 122.7 92.7 93.1 88.3 87.3 Oct 2 9 16 23 30 116.4 116.1 116.8 115.1 ... 117.0 116.5 116.2 116.9 115.2 117.6 122.9 122.7 123.5 121.5 123.0 110.7 110.2 110.8 109.4 112.7 112.6 112.7 113.9 111.4 109.6 116.2 116.0 116.2 115.2 115.5 124.1 124.0 125.0 122.8 123.9 84.9 84.5 84.3 82.0 85.0 Nov. 6 13 20 27 117.2 ... 115.7 115.9 117.4 117.9 116.1 116.5 118.4 122.9 121.1 122.0 125.1 113.3 111.6 111.5 112.3 109.0 105.4 106.4 105.8 115.3 114.3 113.7 114.1 124.8 124.8 125.5 125.8 82.0 82.2 81.3 82.6 Dec 4 11 18 24 31 119.7 119 9 ... 120.5 120 2 122 0 121.2 121 6 122.3 121.8 123 4 127.3 128 2 129.2 129 1 130 4 115.5 115 6 116.0 115.2 117 0 107.1 107 9 107.7 107.1 108 3 115.1 114 0 114.2 114.7 117 5 126 A 125 9 127.0 126.8 129 0 87.0 85 6 85.1 85.0 86 6 i960 Jan 8 15 22 29 121 4 118 9 117 1 ... 113 2 122 0 118 8 116 7 112.4 129 125 123 118 5 8 6 2 115 1 112 4 110 3 107.0 108 3 108 0 105 7 103.5 120 7 121 0 120.1 118.4 128 5 127 4 125.8 120.5 86 7 83 8 81.9 80.8 Feb 5 12 19 26 114 1 ... 113.1 114 7 114.6 113 2 111.9 113 1 112.9 119 3 118.2 119 5 119.5 107 6 106.0 107 3 106.9 102.5 103.6 103 8 102.0 120.1 120.6 124 0 124.6 121.2 120.8 121 9 123.6 79.1 79.2 78 6 77.1 Mar 4 11 18 25 111 3 110 7 112 2 ... 114.1 109 2 108 5 110 1 111.9 114 8 114 3 115 9 118.3 104 0 103 1 104 8 106!l 96 6 96 7 97 4 98.9 123 4 122 8 123 7 126.1 121 0 120 6 122 6 124.8 75 3 75 0 75 7 76.8 Apr 1 8 14 22 29 113.1 115 1 115.2 113 0 ... 111 0 110.8 113 1 112.6 110.3 108.1 117 3 120 6 120i6 117 8 115 0 104.7 106 1 105.3 103 5 101.7 96.2 97 7 97.8 96 1 94.6 125.9 127 1 129.6 127.0 125.7 124.7 125 7 126.2 125.9 123.8 74.3 75 0 74.6 72.4 70.9 109 110 111 111 116 118 119 120 102 102 104 103 95 94 97 95 5 4 4 8 126 2 126 5 126 4 126.6 124 6 125 5 126 0 127.2 70 3 69 0 73.4 70.8 93 9 99 2 96 2 99.1 129.3 130.1 129 3 130.6 129.6 132.0 132 6 134.1 70.0 71.4 70 0 69.8 May 6 13 20 27 June 3 10 17 24 111 112 114 113 8 9 1 9 •. 114 8 118 4 117 2 117.8 0 5 8 5 112 1 116 3 115 0 115.2 2 8 7 2 121 2 125 4 123 2 123.8 4 8 5 5 103 7 108 0 107 3 107.3 1961—July 7 14 21 28 132.9 131.9 130.9 135.0 125.4 124.4 123.3 127.6 126.5 125.4 124.8 129.3 124.4 123.4 121.9 126.0 105.5 102.8 100.3 104.4 165.8 165 5 165.5 170.1 159 4 158 2 156.9 159 3 95 1 93 2 91.6 92 6 Aug 4 11 18 25 137.1 .... 137 7 138 2 ... 136.6 129.9 130.4 131 0 129.2 131.8 132.0 131 6 129.7 128.1 128.9 130 5 128.6 106.0 106.5 108 3 107.1 170.0 171 3 170 9 170.2 163.5 164 0 164 6 164.7 93.5 93 4 92 9 91.5 Sept 1 8 15 22 29 137.7 137 1 .... 136.7 134.8 134.9 130.5 130 2 129.4 127.3 127.0 132.3 132 3 132.8 130.4 130.7 128.9 128 3 126.4 124.5 123.7 107.9 106 6 107.2 106.0 106.5 169 7 168 0 169.4 167.8 169.5 167 1 166 2 166.2 165.7 166.6 91 5 88 7 86.3 84 5 85.7 Oct 6 13 20 27 137.4 . .... 137.5 138.5 ... 138.4 129.2 128.8 129.4 129.1 132.7 132.3 132.1 131.5 126.0 125 5 127.0 127.0 110.9 111 0 110.1 108.5 171.8 173 3 174 5 175.9 171.4 174 8 180.5 179.8 87.0 89 0 92 3 92.7 Nov 3 10 17 24 140.7 144.0 145.3 ... 145.9 130.8 134.2 134.7 135.0 132.7 137.1 136.3 136.6 129.2 131.5 133.3 133.6 109.6 109.9 110.9 109.2 181.2 185 0 187.3 190.3 181.1 185 4 193.0 191.4 92.7 95 1 94.2 98.3 Dec 1 8 15 22 29 145.8 146 5 146.5 144.3 145.7 135.4 135.9 136.0 134.6 135.9 137.6 138.3 138.9 136.8 138.7 133.3 133.7 133.4 132.7 133.2 109.5 108.6 107.3 105.9 108.0 188.9 190 7 190.8 184.9 186 7 188.6 189 3 188.4 186.2 187 3 101.5 102 0 101 3 100.3 100 6 1962 Jan 5 12 19 26 .... 141.7 141.6 139.8 138.5 132.0 131.9 130.1 129.0 134.6 134.9 133.0 132.0 129.7 129.1 127.4 126.2 108.0 109.6 109.1 107.4 182.9 182.6 180.7 179.6 178.0 178 2 174.8 170.0 99.7 105 2 106.4 105.1 Feb 2 9 16 23 ... 141.9 143.3 143 6 ... 142.5 132.9 133.9 134 0 132.9 134.5 135.4 134 7 133.1 131.5 132.6 133 5 132.7 110.9 111.0 111 0 109.2 180.3 183.2 183 9 184.6 175.0 177 4 178 1 175.1 105.9 112 1 113 3 107.5 Mar 2 9 16 23 30 142 4 143.1 144 3 143 2 141.4 132 9 133.8 135 0 133 9 132.0 132 7 134.9 135 6 134.6 132.2 133 0 132.9 134 4 133.3 131.9 108 7 107.5 107 6 107 1 106.0 184 5 184.9 185 5 184 3 182.0 173 9 173 4 177 0 176 9 175.0 110 2 108 4 105 5 104 6 104.1 Apr 6 13 20 27 139.8 137.8 139.6 134.7 130.1 128.1 129.7 124 9 130.6 128.6 129.5 123.1 129.7 127.7 130.0 126.7 104.2 103.2 104.5 100 5 182.1 179.8 182.6 176 8 173.9 171.1 173.7 169 4 104.1 103.4 105.9 102 2 May 4 11 18 25 134.8 .... 127 2 129.9 121 1 125.2 118 1 119.9 112 4 123.7 116.4 119.2 110 3 126.7 119.8 121.3 114 4 101.4 98.1 100.0 94 4 175.4 164.6 169.8 158 7 169.4 162 0 165.4 149 7 102.0 97 4 98.2 92 4 June 1 8 15 22 29 120.8 118.7 113.9 107.0 111.3 111.9 109.9 105.3 98.6 103.0 109.9 107.8 102.9 95.2 100.3 113.8 111.8 107.7 101.8 105.6 94.6 92.7 90.2 85.5 88.1 158.3 156.0 150.3 143.0 148.1 150.6 148.6 141.1 131.4 134.7 92.4 91.1 87.1 83.8 86.9 July 6 13 20 27 114.2 117 7 115.6 116.4 105.2 108 4 106.5 107.3 102.0 106.0 104.0 105.4 108.2 110.6 108.8 109.1 89.9 91.9 89.4 88.9 153.1 159 3 156.4 157.8 139.7 141 0 138.3 138.5 88.9 92.5 91.2 90.9 Aug. 3 10 17 24 31 118.3 117.1 120.2 121.5 120.6 109.4 108.2 110.9 112.2 111.4 107.6 106.6 109.9 111.3 109.9 111.0 109.8 111.9 113.1 112.8 90.4 88.8 90.2 92.2 91.5 159.3 157.5 161.8 163.1 161.8 139.1 139.6 145.4 147.3 146.6 93.2 91.8 92.1 93.2 93.3 15. COMMON STOCK PRICE INDEXES: SECURITIES AND EXCHANGE COMMISSION — Continued B. WEEKLY, 1939-MAY 1964—Continued [1957-59 = 100] Manufacturing Manufacturing Week ending— Total Total Durable Nondurable Transportation Public utility Trade, finance, and service Mining 109.8 111.3 108.6 106.0 107.9 109.0 105.4 102.5 111.6 113.6 111.7 109.2 90.7 89.8 87.2 86.2 159.9 160.1 158.8 154.1 144.1 143.8 141.6 136.8 92.6 93.9 91.7 90.8 116.6 116.2 113.2 111.2 107.6 107.3 104.3 103.0 104.8 104.3 100.7 100.2 110.3 110.1 107.8 105.5 87.0 87.8 85.5 86.1 157.4 156.9 153.6 149.4 139.4 138.6 135.6 129.8 92.5 93.3 90.1 89.2 Nov. 2. 9. 16. 23. 30. 118.0 120.1 122.8 125.5 127.4 109.7 111.3 114.2 116.7 118.3 106.5 107.5 110.8 113.7 114.8 112.8 114.9 117.3 119.6 121.7 90.4 94.4 97.9 100.1 103.2 156.0 159.9 161.6 164.8 167.8 138.9 141.3 146.4 149.4 150.9 93.4 95.6 96.6 101.5 101.3 Dec. 7. 14. 21. 28. O 119.0 120.1 117.7 114.6 Oct. 5. 12. 19. 26. ^ 128.5 127.5 127.7 128.3 119.6 118.4 118.8 119.5 115.1 113.5 113.3 114.2 123.9 123.0 124.0 124.4 103.1 101.5 102.1 102.4 168.3 167.8 167.4 168.2 152.4 152.1 151.6 151.1 102.2 101.4 100.7 101.5 1963—Jan. 4. 11, 18. 25. 130.6 132.2 133.0 134.5 121.8 123.3 123.8 125.3 117.2 118.9 119.4 121.1 126.1 127.4 127.9 129.4 106.4 107.2 106.9 108.7 170.3 171.8 174.5 175.5 153.5 156.3 155.8 157.7 104.2 106.0 107.3 109.6 Feb. 1, 8, 15, 21. 135.2 134.9 135.4 134.3 126.0 125.4 125.9 124.7 121.4 120.7 121.7 120.2 130.2 129.8 129.8 128.9 108.8 109.9 112.0 110.4 176.9 177.8 177J 158.2 158.0 159.1 158.1 110.2 108.9 109.0 109.1 Mar. 1 8 15 22 29, 130.6 133.2 134.3 134.9 135.6 121.1 123.9 125.1 125.6 126.6 116.2 118.4 119.0 119.3 120.8 125.8 129.1 130.8 131.5 132.1 107.5 108.9 109.0 109.9 111.0 172.0 173.9 174.9 175.9 175.9 156.0 158.7 159.1 159.9 159.2 106.3 109.8 111.8 115.7 114.1 Apr. 5 19 26 139.2 140.3 141.2 142.0 130.4 131.7 132.7 133.3 125.5 126.4 127.6 127.9 135.0 136.8 137.5 138.3 113.7 114.8 117.2 119.5 178.8 178.2 179.0 180.7 162.7 165.1 164.6 166.6 116.9 119.3 122.8 121.2 May 3, 10 17, 24 31 142.7 143.7 143.0 142.5 144.1 133.8 135.0 133.9 133.3 135.4 128.6 131.7 130.3 129.8 133.3 138.6 138.1 137.4 136.7 137.5 121.1 121.2 124.4 126.7 127.6 181.6 181.4 180.6 180.0 179.6 168.0 168.8 171.6 170.7 171.1 121.9 123.2 123.3 122.9 124.7 June 7 14 21 28 143.2 142.9 142.8 141.0 134.5 134.1 133.9 132.1 132.2 131.1 130.9 127.9 136.8 136.9 136.8 136.2 126.2 125.9 129.0 127.8 178.6 178.7 178.5 176.3 170.7 171.6 171.0 169.1 124.8 123.9 125.5 126.7 July 5 12 19 26 142.8 141.6 139.0 139.4 134.0 132.6 130.0 130.5 129.3 127.1 124.9 124.9 138.5 137.8 134.8 135.8 128.6 128.3 124.8 121.6 178.1 177.1 175.6 175.8 170.8 169.7 166.4 167.0 130.1 129.1 125.6 124.3 1 Series http://fraser.stlouisfed.org/ discontinued Federal Reserve Bank of St. Louis with figures for May 1964. See text p. 16. Total Total 1962—Sept. 7. 14. 21. 28. UJ Week ending— Durable Nondurable Transportation Public utility Trade, finance, and service Mining 1963—Aug. 2. 9. 16. 23. 30. 140.9 143.4 145.4 146.0 147.3 132.2 134.4 136.1 136.9 138.3 126.4 128.6 130.9 132.4 133.6 137.6 139.9 141.1 141.2 142.8 125.0 127.0 130.4 129.9 131.7 176.8 179.7 182.7 182.1 183.2 167.7 170.5 174.1 176.2 177.1 126.9 132.9 133.5 132.6 135.7 Sep,.6. 148.1 148.8 149.0 146.7 139.3 140.1 140.7 137.6 135.4 136.1 136.9 133.6 143.1 143.9 144.3 141.4 129.6 128.1 128.4 126.0 182.9 183.1 182.4 183.2 179.8 180.9 179.9 178.3 133.6 135.0 133.5 129.6 Oct. 4 . . . 11... 18... 25... 148.2 147.0 149.1 150.6 139.2 137.9 140.4 141.9 136.1 136.0 139.0 141.0 142.1 139.9 141.7 142.8 127.7 127.2 129.0 128.7 184.3 183.6 184.5 186.9 180.4 178.2 180.7 180.2 131.0 130.2 129.9 129.0 Nov. 1 8 150.2 149.2 147.0 141.2 149.1 141.5 140.2 137.4 131.5 139.3 141.4 139.1 135.9 129.0 137.8 141.7 141.4 139.0 134.0 140.8 128.8 130.2 131.9 124.0 132.7 186.4 186.8 186.4 182.0 190.3 178.7 177.2 174.8 168.0 176.0 128.4 129.4 128.0 121.3 132.3 Dec. 6. 13. 20. 27. 150.7 150.8 151.2 151.5 140.8 140.9 141.8 142.2 137.8 137.5 137.2 138.4 143.8 144.2 146.2 1419 133.7 135.5 134.8 135.6 191.9 191.8 190.9 190.6 177.0 176.9 176.1 176.0 136.4 135.7 134.2 134.5 1964—Jan. 3 10 17 24 31 153.6 155.2 155.8 157.0 157.0 144.6 145.9 146.3 147.2 147.7 141.5 142.9 143.5 143.4 143.3 147.7 148.8 149.0 150.9 151.9 138.3 139.8 141.0 142.5 140.4 192.1 195.1 196.9 198.6 197.4 176.6 177.7 177.7 18O.0 179.6 139.8 139.5 139.2 141.7 140.7 7... 14... 20... 28... 157.4 158.2 158.6 158.8 148.0 148.5 149.4 149.9 142.7 144.4 145.4 146.4 153.1 152.5 153.2 153.3 142.5 143.7 145.8 148.6 197.3 199.2 196.8 195.9 180.3 181.2 183.7 182.6 142.7 145.4 144.2 141.2 Mar. 6. . . 13... 20... 26... 159.8 161.5 161.0 161.4 151.2 153.4 153.0 153.7 148.6 152.5 150.3 152.0 153.7 154.3 155.6 155.4 149.6 149.7 150.7 151.7 195.5 195.4 193.8 193.4 184.0 185.8 186.2 185.2 141.8 143.0 143.5 143.6 Apr. 3 10 17 24 162.9 .162.6 164.1 162.5 155.1 154.9 155.6 154.0 152.7 152.3 152.0 150.2 157.5 157.4 159.2 157.7 154.1 154.0 153.7 150.8 195.1 193.4 198.0 196.3 186.9 188.2 191.6 190.1 143.8 147.4 153.4 152.6 May 1 163.4 165.3 165.0 164.5 163.8 155.1 157.1 156.7 155.8 155.2 151.4 153.3 152.8 152.1 151.5 158.6 160.8 160.5 159.5 158.9 153.4 156.5 157.3 162.1 160.8 195.9 196.3 195.9 196.0 194.2 191.5 194.1 195.9 195.8 195.9 158.4 162.5 161.0 160.9 160.8 29. 27. 15 22 29 Feb. 15.. 22.. 281. 16. STOCK YIELDS, 1926-63 [Per cent per annum] Dividend/price ratio Preferred Common Earnings/ price ratio, common 1926 1927 1928 1929 5.78 5.51 5.12 5.12 4.94 4.76 3.98 3.47 9.19 6.29 5.67 7.51 1930 1931 1932 1933 1934. 4.95 5.04 6.13 5.75 5.29 4.51 6.15 7.43 4.21 3.72 6.33 7.51 5.95 4.36 5.16 Period 1935 1936 1937 1938.. 1939 4.63 4.33 4.45 4.34 4.19 3.82 3.44 4.86 5.18 4.05 7.23 6.57 8.25 5.55 7.34 1940 1941 1942 1943 1944 4.14 4.08 4.31 4.06 3.99 5.59 6.82 7.24 4.93 4.86 9.80 12.14 11.42 7.82 7.34 1945 1946 1947 1948 1949 3.70 3.53 3.79 4.15 3.97 4.17 3.85 4.93 5.54 6.59 6.39 6.31 10.69 14.60 15.12 1950 1951 1952 1953 1954 3.85 4.11 4.13 4.27 4.02 6.57 6.13 5.80 5.80 4.95 15.20 10.89 9.56 10.36 8.93 1955 1956 1957 1958 1959 4.01 4.25 4.63 4.45 4.69 4.08 4.09 4.35 3.97 3.23 8.72 7.14 7.78 6.02 5.92 1960 1961 1962 1963 4.75 4.66 4.50 4.30 3.47 2.98 3.37 3.17 5.88 4.76 6.06 5.68 1926—Jan... Feb... Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 5.83 5.80 5.83 5.80 5.77 5.77 5.77 5.74 5.81 5.82 5.78 5.67 4.46 4.51 4.92 5.17 5.26 5.24 5.09 4.92 4.86 4.97 4.93 4.94 1927—Jan... Feb... Mar.. y June. July.. Aug.. Sept.. Oct... Nov.. Dec. 5.65 5.60 5.57 5.54 5.49 5.50 5.52 5.48 5.45 5.45 5.43 5.40 5.02 5.01 5.07 4.97 4.85 4.97 4.91 4.68 4.42 4.47 4.37 4.32 1928—Jan... Feb... Mar.. 5.33 5.24 5.11 4.31 4.39 4.20 9.19 6.29 Dividend/price ratio Month Preferred Common 1928—Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. 4.94 4.96 5.05 5.10 5.12 5.15 5.22 5.13 5.11 4.05 3.93 4.13 4.14 4.01 3.78 3.72 3.50 3.60 1929—Jan.. . Feb.. Mar.. Apr.. May. June. July. . Aug.. Sept.. Oct.. . Nov.. Dec. 5.07 5.09 5.09 5.10 5.12 5.16 5.14 5.17 5.14 5.15 5.18 5.06 3.36 3.38 3.31 3.35 3.37 3.38 3.16 3.01 2.92 3.33 4.54 4.48 1930—Jan.. . Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct.. , Nov.. Dec.. 5.06 5.04 4.96 4.95 4.95 4.95 4.95 4.92 4.87 4.84 4.91 4.99 4.38 4.14 3.99 3.78 4.02 4.50 4.44 4.42 4.33 5.05 5.43 5.62 1931—Jan.. . Feb... Mar... Apr... May.. June.. July. . Aug... Sept... Oct.. . Nov... Dec... 4.96 4.90 4.86 4.83 4.83 4.87 4.86 4.84 4.97 5.38 5.43 5.75 5.50 5.12 4.95 5.43 5.95 5.96 5.66 5.74 6.51 7.28 7.06 8.68 1932—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 5.85 5.84 5.76 6.33 6.57 6.88 6.72 6.09 5.85 5.86 5.87 5.89 8.22 8.04 7.16 9.13 9.57 10.30 8.85 5.65 4.94 5.73 5.84 5.68 1933—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 5.75 5.81 6.07 6.12 5.95 5.68 5.53 5.50 5.47 5.55 5.74 5.78 5.42 6.04 6.18 5.47 3.90 3.20 2.95 3.19 3.30 3.59 3.65 3.59 131 Earnings/ price ratio, common 5.67 7.51 6.33 7.51 5.95 4.36 Dividend/price ratio Month 1934_jan.. Feb. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec 1935—Jan.. Feb. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec 1936—Jan.. Feb. Mar. Apr., May June July. Aug. Sept. Oct.. Nov. Dec 1937—Jan.. Feb. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec 1938—Jan.. Feb. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec 1939_jan.. Feb. Mar. Apr., May June July. Aug. Sept. Oct.. Nov. Dec. Preferred Com- 5.66 5.46 5.40 5.33 5.28 5.24 5.16 5.18 5.28 5.32 5.16 4.99 4.90 4.85 4.81 4.69 4.56 4.55 4.55 4.54 4.56 4.59 4.53 4.43 4.40 4.36 4.31 4.30 4.34 4.33 4.31 4.29 4.32 4.34 4.35 4.26 4.18 4.21 4.40 4.52 4.57 4.51 4.51 4.46 4.47 4.51 4.55 4.47 4.45 4.43 4.49 4.54 4.46 4.43 4.35 4.28 4.23 4.20 4.12 4.15 4.12 4.11 4.13 4.16 4.14 4.10 4.05 4.07 4.49 4.47 4.24 4.14 3.36 3.10 3.33 3.25 3.58 i.55 3.67 4.00 4.21 4.22 4.14 4.25 4.24 4.24 4.51 4.35 4.00 3.82 3.58 3.48 3.51 3.50 3.24 3.38 3.27 3.14 3.11 3.19 3.46 3.51 3.37 3.40 3.56 3.41 3.52 4.36 4.34 3.83 3.47 3.74 4.04 4.41 4.18 4.23 5.06 6.01 7.01 7.94 7.84 7.52 6.02 5.84 5.68 5.40 4.35 4.26 4.30 3.77 3.59 3.58 3.49 3.61 3.69 4.23 4.25 4.33 4.26 4.33 3.91 3.87 4.12 4.54 mon Earnings/ price ratio, common 5.16 '8.62" ' 7.92 ' '6.56' " 5.8*1 " ' 5.90*' *7.'89" '6.68" "5.82* ' 7.14 ' '9.09 ' 9 .'74 6.47 '4.93 ' 4.661' ' 6.13 ' '7.4V '7.27" ' 6.14 ' '8.49" 16. STOCK YIELDS, 1926-63 — Continued [Per cent per annum] Dividend/price ratio Month 1940—Jan Feb Mar Apr. May June. . July Aug Sept. Oct Nov Dec 1941 Jan Feb Mar Apr.. May June July AUK. . . Sept Oct Nov Dec 1942_Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 1943—Jan Feb Mar Apr May June July. Aug Sent.. Oct Nov Dec 1944 Jan . Feb Mar Apr May June July. Aug Sept... . Oct Nov... . Dec 1945—Jan Feb Mar Apr May June. July Aug. . Sept Oct Nov Dec Preferred Common 4 07 4 10 4.13 4.11 4.21 4 38 4 22 4.19 4.15 4.10 4 08 3.97 4 58 4 65 4 70 4.73 5 69 6 31 6 08 6.11 5.95 5 92 5 98 6.37 3 94 4.05 4.08 4.10 4.15 4.15 4.05 4.02 4 04 4 07 4 01 4.15 6 38 6 61 6.52 6.77 691 6.79 6.43 6.51 6 56 6 90 7 37 8.13 4.21 4.24 4.38 4.52 4.48 4.40 4 32 4.27 4 27 4.23 4 23 4.19 7.88 8 05 8.15 8 47 8.21 7 37 7 07 6.98 6 67 6 18 6 00 5.84 4.17 4.10 4.08 4.08 4.07 4.03 3.98 3.97 3.98 4 00 4 06 4 14 5.54 5.21 5.04 4 86 4.69 4.64 4.57 4.78 4.79 4 84 5.07 5 07 4.09 4.06 4 04 4.02 4.04 3.98 3.94 3.96 3.95 3.95 3.92 3.87 4.95 4 99 4 88 4 97 4.99 4.81 4.68 4.77 4.91 4.75 4.82 4.77 3.82 3 78 3.73 3.67 3.66 3.67 3.69 3.72 3.75 3.72 3.64 3.59 4.60 4 43 4.48 4.36 4.21 4.12 4.21 4.27 4.01 3.85 3.73 3.71 Earnings/ price ratio, common Dividend/price ratio Month Preferred 1946 9 63 10 82 4 01 4.07 4 49 4 38 4.61 4.75 5.05 5.03 4.81 4.97 5 16 5.10 5 24 5.55 1948—Jan Feb Mar Apr. M^ay June July Aug Sept Oct . Nov Dec 4.13 4.18 4.12 4.12 4.08 4.05 4 13 4.20 4 20 4.28 4 21 4.15 5.71 6.01 5.90 5.50 5.32 5.02 4 96 5.17 5 29 5.29 6 09 6.24 1949—Jan. # Feb Mar Apr May June July Aug... Sept Oct Nov Dec 4.09 4.04 4.07 4 07 4.04 3.98 3.97 3.90 3.85 3 88 3.89 3 88 6.20 6.54 6.57 6 65 6.72 7.09 6.73 6.54 6.36 6 26 6.61 6 75 3.83 3 84 3 81 3 82 3.82 3.85 3.92 3.85 3.85 3.88 3.88 3.89 6.65 6 62 6 53 6 36 6.16 6.12 6.63 6.54 6.65 6.39 6.97 7.24 3.87 3 87 4.00 4.11 4.15 4.17 4.20 4.13 4.16 4.19 4.23 4.28 6.34 6 20 6.34 6.27 6.23 6.30 6.25 5.96 5.75 5.77 6.18 5.99 12.55 12.59 12 35 11.05 10.36 i i 09 i i 64 12.59 8.46 7.94 7.86 7 03 1950 7 99 7.16 7.20 7.00 7.92 "7.3*5" 5.51 4.78 .... . . Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 1951—Jan Feb Mar Apr M^ay June July Aug Sept Oct Nov Dec . . Preferred 132 1953 Jan Feb 10.81 10.45 iO46 Mar Apr. Mar June July Aug Sept Oct Nov 11.05 13.46 Dec 1954_jan Feb Mar . Apr May 13 21 i5 24 16.50 15.87 June July . Aug Sept Oct Nov . Dec 1955—Jan Feb . Mar Apr May 15.95 14.88 June July . . Aug Sept . . . Oct 13 77 15 22 Nov Dec 1956—Jan Feb Mar Apr May 16 83 15.58 13.18 11.86 11.93 9.54 10.23 June July Aug Sept .. Oct Nov Dec 1957—Jan Feb Mar Apr May June July Aug Sept Oct Nov .. Dec . . . . . Common 4.26 4 22 4.16 4.07 4.04 4.04 4 09 4.12 4.12 4.16 4.12 4.11 1952—Jan 3 56 Feb . 3 62 Mar 3.72 3 82 Apr 3.51 May 3.48 June 4 99 3 53 3 62 July . . . Aug 3.65 Sept . . . 4.21 "7.49" Oct 4.33 Nov . 4 50 Dec 4.47 8.95 Jan Feb Mar Apr May June July. Aug Sept Oct Nov Dec 1947 Month 3 74 3.71 3.72 3.75 3.76 3.76 3.72 3.71 3 72 3.86 Sept Oct Nov Dec 9.54 Dividend/price ratio 3 54 3 49 3 45 3.42 3 47 3 46 3 43 3.44 3.57 3.65 3 70 3.76 Jan Feb Mar Apr May June July AUE 9.19 Common Earnings/ price ratio, common 5.82 5.99 5.94 5.96 5.99 5.83 5.65 5.66 5.74 5.89 5.69 5.47 4 16 4.21 4.23 4.33 4.38 4.47 4.37 4.30 4 30 4.19 4 15 4.20 5.45 5.52 5.48 5.75 5.77 5.99 5.90 5.87 6.14 5.99 5.92 5.83 4.15 4.08 4.04 4.02 4 03 4.05 4 04 4.01 3 98 3.93 3 92 3.93 5.69 5.62 5.46 5.24 5.02 4.99 4.77 4.63 4.57 4.43 4.52 4.45 3.98 4 00 4.01 3.98 3.99 3.98 3.96 4.01 4.06 4 04 4.01 4 05 4.38 4.32 4.33 4.19 4.23 4.01 3.72 3.87 3.72 3.94 4.05 4.15 4.03 3.99 4 01 4.15 4 22 4.17 4 16 4.24 4.39 4.42 4.56 4.63 4.24 4.24 3.97 3.94 4.09 4.09 3.89 3.92 4.07 4.12 4.27 4.24 4.51 4 47 4.46 4.47 4.53 4.69 4.75 4.83 4.79 4.80 4.78 4.49 4.31 4 54 4.47 4.36 4.18 4.04 3.95 4.17 4.31 4.54 4.67 4.64 Earnings/ price ratio, common 9.73 9.09 9.74 9.67 9.69 10.53 11.35 9.87 9.54 9.42 8.48 8.26 9.18 9.04 8.61 8.03 7.67 7.26 6.46 7.18 8.28 7.33 7.50 8.00 16. STOCK YIELDS, 1926-63 — Continued [Per cent per annum] Dividend/price ratio Month Preferred Common 1958—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 4.36 4.38 4.42 4.37 4.31 4.28 4.36 4.45 4.58 4.64 4.65 4.63 4.48 4.47 4.37 4.33 4.19 4.08 3.98 3.78 3.69 3.54 3.42 3.33 1959 Jan Feb Mar Apr May June July Aug Sept Oct . . . Nov Dec 4.54 4.52 4.48 4.51 4.68 4.79 4.75 4.70 4.80 4.81 4.81 4.85 3.24 3.32 3.25 3.26 3.21 3.23 3.11 3.14 3.26 3.26 3.24 3.18 Earnings/ price ratio, common "6.'39" 5.88 5.93 5.87 6.35 6.53 5.50 5.28 Dividend/price ratio Month Preferred Common I960—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 4.87 4.82 4.76 4.71 4.75 4.74 4.70 4.61 4.69 4.75 4.78 4.84 3.27 3.44 3.51 3.47 3.51 3.40 3.49 3.43 3.55 3.60 3.51 3.41 1961 Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 4.73 4.68 4.66 4.67 4.63 4.66 4.69 4.69 4.69 4.62 4.59 4.64 3.28 3.13 3.03 2.95 2.92 2.99 2.99 2.91 2.93 2.91 2.83 2.85 133 Earnings/ price ratio, common 6.36 5.83 5.98 5.33 4.41 4.86 4.93 4.84 Dividend /price ratio Month Preferred Common 1962—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 4.59 4.52 4.48 4.45 4.45 4.52 4.59 4.55 4.50 4.49 4.45 4.42 2.97 2.95 2.95 3.05 3.32 3.78 3.68 3.57 3.60 3.71 3.50 3.40 1963—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 4.34 4.27 4.24 4.31 4.29 4.29 4.34 4.30 4.30 4.26 4.28 4.32 3.31 3.27 3.28 3.15 3.13 3.16 3.20 3.13 3.06 3.05 3.14 3.14 Earnings/ price ratio, common 5.08 6.54 6.33 6.28 5.60 5.79 5.69 5.62 17. TRADING IN STOCKS ON THE NEW YORK STOCK EXCHANGE: ROUND-LOT VOLUME A. ANNUALLY AND MONTHLY, 1941-63 [In millions of shares] Year Total Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. 1941 1942 1943 1944 171 126 279 263 13 13 18 18 9 8 24 17 10 9 37 28 11 8 34 14 10 7 35 17 10 7 23 38 18 8 26 28 11 7 14 21 14 9 15 16 13 16 14 18 15 13 18 18 36 19 20 31 1945 1946 1947 1948 1949 378 364 254 302 272 39 52 24 20 19 33 34 24 17 17 27 26 19 23 21 28 31 21 35 19 32 30 21 43 18 41 21 17 31 18 20 21 25 25 19 22 21 14 15 22 25 43 16 18 24 35 30 29 20 29 40 24 16 28 27 34 30 28 28 39 1950 1951 1952 1953 1954 525 444 338 354 573 43 70 37 34 33 33 41 27 30 33 40 36 30 42 44 48 34 29 34 44 42 38 24 26 42 46 27 26 26 42 45 28 24 22 52 38 34 21 24 57 39 36 24 26 41 48 43 26 26 44 43 26 30 27 64 60 30 41 36 76 1955 1956 1957, 1958 1959 650 556 560 747 820 75 47 48 50 83 61 46 38 40 66 67 60 36 47 82 54 54 48 50 76 45 53 53 54 71 58 37 44 57 64 48 46 48 69 71 42 45 41 62 51 60 37 37 72 58 42 40 64 95 61 46 44 48 74 65 51 46 54 76 72 1960 1961 1962 1963. 767 1,021 962 1,147 64 89 81 101 61 93 66 79 66 118 68 75 57 102 65 108 69 97 111 105 77 73 100 91 54 61 74 76 65 82 77 92 6b 64 63 107 54 73 79 122 62 88 96 94 77 82 81 99 134 17. TRADING IN STOCKS ON THE NEW YORK STOCK EXCHANGE: ROUND-LOT VOLUME — Continued B. WEEKLY, 1934-63 [In thousands of shares] Week ending— Daily average Week ending— 1934—Jan. 6.. 13.. 20.. 27.. 1,339 1,435 3,597 2,928 Feb. 3 . . 10.. 17.. 24.. 4,031 4,581 2,727 2,350 1935—Mar. 2 . . . 9... 16... 23... 30... Mar. 3 . . 10.. 17.. 24.. 31.. 1,691 1,452 1,452 1,342 1,385 Apr. 6 . . . 13... 20... 27... Apr. 7 . . 14.. 21.. 28.. 1,476 1,390 1,607 1,302 May 5 . . 12.. 19.. 26.. 1,423 1,931 1.169 June 2 . . 617 925 921 753 611 9.. 16.. 23.. 30.. 648 473 572 850 July 7 . . 14.. 21.. 28.. 2,208 Aug. 4 . . 11.. 18.. 25.. 715 933 645 831 Sept. 1.. 583 573 677 656 751 8.. 15.. 22.. 29.. Oct. 6.. 13.. 20.. 27.. Nov. 3 . . 10.. 17.. 24.. Dec. 1.. 8.. 15.. 22.. 29.. 634 1,005 664 813 566 1,157 ,280 ,065 ,215 ,272 1,084 1,019 1,383 1935—Jan. 5 . . 12.. 19.. 26.. 1,105 1,263 Feb. 2 . . 634 584 558 9.. 16.. 23.. 897 648 1,305 May 4 . . . 11... 18... 25... 1939_Nov. 4 . . . 11... 18... 25... 1,330 1,272 Oct. 1 . . . 8... 15... 22... 29... 1,556 1,970 2,246 2,407 1,841 Dec. 2 . . . 9... 16... 23... 30... 741 784 849 851 2,316 1,552 1,652 Nov. 5 . . . 12... 19... 26... 1,192 2,603 1,580 1,080 Dec. 3 . . . 10... 17... 24... 31... 1,027 1,121 Aug. 7 . . . 14... 21... 28... 892 878 778 762 1,022 1,331 1,765 1,575 Sept. 4 . . . 11... 18... 25... 795 838 790 979 725 547 1936—May 2 . . . 9... 16... 23... 29... 2,075 1,121 1937—July 2 . . . 10... 17... 24... 31... 763 984 June 6 . . . 13... 20... 27... 1,031 1,048 1,179 July 3 . . . 11... 18... 25... 1,448 1,676 1,267 1,564 1,025 1938—Sept. 3 . . . 10... 17... 24... Week ending— 994 Daily average Daily average Daily average 1,100 1,566 Week ending— Week ending— Week ending— Daily average 939 891 1,002 781 Daily average 766 1,249 936 838 June 1 . . . 8... 15... 22... 29... 1,178 1,370 1,011 Aug. 1 . . . 8... 15... 22... 29... 1,892 1,435 1,330 1,121 1,190 Oct. 2 . . . 9... 16... 23... 30... 1,401 1,412 2,464 4,516 2,282 July 6 . . . 13... 20... 27... 1,000 1,292 1,279 1,520 Sept. 5 . . . 12... 19... 26... 1,341 1,683 1,246 1,712 Nov. 6.. . 13... 20... 27... 1,562 1,686 1,526 1,618 Aug. 3 . . . 10... 17... 24... 31... 1,985 1,982 2,263 2,135 1,466 Oct. 3 . . . 10... 17... 24... 31... 1,801 2,607 2,174 1,894 1,739 Dec. 4 . . . 11... 18... 24... 31... 1,234 1,195 1,053 1,259 1,735 Sept. 7 . . . 14... 21... 28... 1,810 2,202 1,952 1,188 Nov. 7 . . . 14... 21... 28... 3,245 3,015 2,777 2,413 1938—Jan. 8 . . . 15... 22... 29... 1,231 1,446 Oct. 5 . . . 12... 19... 26... 1,725 1,523 2,130 2,907 Dec. 5 . . . 12... 19... 26... 2,422 2,330 2,520 1,897 Feb. 5 . . . 11... 19... 26... 891 671 676 995 Nov. 2 . . . 9... 16... 23... 30... 2,258 3,032 3,178 3,852 2,601 1937—Jan. 2 . . . 9... 16... 23... 30... 2,206 2,652 3,582 3,166 2,410 Mar. 5 . . . 12... 19... 26... 546 702 993 Dec. 7 . . . 14... 21... 28... 2,517 2,377 1,682 2,309 Feb. 6 . . . 13... 20... 27... 1936—Jan. 4 . . . 11... 18... 25... 2,683 3,717 3,168 2,529 Feb. 1 . . . 8... 15... 22... Z,y. . . 1,607 852 1,124 1,354 2,933 3,197 2,668 2,490 Apr. 2 . . . 9... 16... 23... 30... 1,501 Mar. 6 . . . 13... 20... 2n... 3,023 2,962 2,111 1,708 May 7 . . . 14... 21... 28... 742 912 494 623 3,398 3,021 3,179 4,242 Apr. 3 . . . 10... 17... 24... 1,476 1,762 1,355 1,300 June 4 . . . 11... 18... 25... 502 453 365 Z,J\Jl 2,034 July 2 . . . 9... 16... 23... 30... Aug. 6 . . . 13... 20... 27... 1,126 Mar. 7 . . . 14... 21... 28... 2,975 2,909 2,152 1,949 May 1 . . . 8... 15... 22... 29... Apr. 4 . . . 11... 18... 25... 1,719 1,928 1,593 1,832 June 5 . . . 12... 19... 26... 963 842 1,129 1,030 718 738 709 1,041 596 135 902 1,101 881 508 766 749 940 1,498 1,218 1,885 1,186 6... 13... 20... 27... 889 872 688 637 Feb. 3 . . . 10... 17... 24... 594 761 768 814 614 744 839 696 985 1,481 1,404 1,374 1940_jan. 7... 14... 21... 28... 1,452 1,101 1,558 Mar. 2 . . . 9... 16... 23... 30... Feb. 4 . . . 11... 18... 25... 860 720 714 841 Apr. 6 . . . 13... 20... 27... Mar. 4 . . . 11... 18... 25... 945 815 May 4 . . . 1 1 . . . 1,101 1 8 . . . 3,483 2 5 . . . 2,114 1939_jan. 897 1,133 1,139 1,017 941 Apr. 1 . . . 8... 15... 22... 29... 1,454 1,710 1,329 502 582 June 1 . . . 8... 15... 22... 29... 1,116 May 6 . . . 13... 20... 27... 538 541 510 788 July 6 . . . 13... 20... 27... 346 311 333 259 June 3 . . . 10... 17... 24... 610 597 511 491 454 307 376 317 399 July 1 . . . 8... 15... 22... 29... 637 361 676 Aug. 3 . . . 10... 17... 24... 31... Sept. 7 . . . 14... 21... 28... 878 457 464 713 698 468 625 650 1,845 1,360 1,535 1,031 869 630 695 2,059 Aug. 5 . . . 12... 19... 26... 1,021 Oct. 5 . . . 12... 19... 26... 2,471 2,112 1,639 2,204 1,622 Sept. 2 . . . 9... 16... 23... 30... 1,195 4,385 3,524 1,967 1,798 Nov. 2 . . . 9... 16... 23... 30... 984 Oct. 7 . . . 14... 21... 28... 1,148 1,266 1,436 Dec. 7 . . . 14... 21... 28... 677 958 801 744 796 878 534 736 731 978 761 671 635 853 853 1,163 17. TRADING IN STOCKS ON THE NEW YORK STOCK EXCHANGE: ROUND-LOT VOLUME — Continued B. WEEKLY, 1934-64 — Continued [In thousands of shares] Week ending— Daily average Week ending— Daily average 1941—Jan. 4 . . 11.. 18.. 25.. 917 787 567 525 1942—Mar. 7 . . . 14... 21... 28... 504 413 381 348 Feb. 1.. 606 464 671 416 Apr. 4 . . . 11... 18.. . 25... 335 351 409 355 15.. 22.. 29.. 397 390 513 521 520 May 2 . . . 9... 16... 23... 30... 355 339 313 411 341 Apr. 5.. 12.. 19.. 26.. 649 582 502 491 June 6 . . . 13... 20... 27... 440 342 347 288 May 3 . . 10.. 17.. 24.. 31.. 435 631 430 All 371 July 4 . . . 11... 18... 25... 312 563 343 335 June 7.. 14.. 21.. 28.. 451 612 461 551 Aug. 1 . . . 8... 15... 22... 29... 303 295 321 450 364 July 5.. 12.. 19.. 26.. 415 613 953 Sept. 5 . . . 12... 19... 26... 314 400 424 672 16.. 23.. 30.. 925 657 452 444 449 Oct. 3 . . . 10... 17... 24... 31... 627 966 716 680 627 Sept. 6. . 13.. 20.. 27.. 585 703 729 676 Nov. 7 . . . 14... 21... 28... 844 903 646 661 Oct. 4 . . 11.. 18.. 25.. 474 603 682 653 Dec. 5 . . . 12... 19... 26... 1,030 Nov. 1.. 1943—Jan. 2 . . . 9... 16... 23... 30... 1,269 15.. 22.. 29.. 616 793 917 832 944 Dec. 6.. 13.. 20.. 27.. 1,168 2,000 1,379 1,707 Feb. 6 . . . 13... 20... 27... 1,046 1,337 1,359 1,819 1942—Jan. 3 . . 10.. 17.. 24.. 31.. 2,084 Mar. 6 . . . 13... 20... 27... 1,904 1,594 1,237 1,684 Feb. 7.. 14.. 21.. 28.. 469 487 406 421 Apr. 3 . . . 10... 17... 24... 1,978 2,566 1,326 1,168 8.. 15.. 22.. Mar. 1. . 8.. Aug. 2. . 9.. 8.. 1,078 740 606 540 537 607 669 913 774 868 817 1,161 Week ending— Daily average Week ending— Daily average Week ending— Daily average Week ending— Daily average 1943—May 1 . . . 8... 15... 22... 29... 1,299 2,630 1,840 1,207 1,290 1944—July 1 . . . 8... 15... 22... 29... 2,023 1,961 1,525 1,530 1945—Sept. 1 . . . 8... 15... 22... 29... 1,267 1,285 1,309 1,439 1,325 1946—Nov. 2 . . . 9... 16... 23... 30... 1,675 1,640 1,153 1,194 1,106 917 Oct. 6 . . . 13... 20... 27... 1,781 1,833 1,867 1,407 Dec. 7 . . . 14... 21... 28... 1,246 1,711 1,420 1,280 1,181 Nov. 3 . . . 10... 17... 24... 1,927 2,237 2,385 2,051 1947__j an . 4 . . . 11... 18... 25... 1,289 1,049 1,201 2,028 2,520 1,729 1,358 1,420 Feb. 1 . . . 8... 15... 22... 1,432 1,611 1,329 1,006 1,095 1,084 846 June 5 . . . 12... 19... 26... 1,434 1,072 1,011 Aug. 5 . . . 12... 19... 26... July 3 . . . 10... 17... 24... 31... 1,075 1,041 1,382 1,662 Sept. 2 . . . 9... 16... 23... 30... Aug. 7 . . . 14... 21... 28... 963 597 599 549 Oct. 7 . . . 14... 21... 28... 944 740 833 930 Dec. 1 . . . 8... 15... 22... 29... Sept. 4 . . . 11... 18... 25... 525 823 744 844 Nov. 4 . . . 11... 18... 25... 788 981 968 840 1946—Jan. 5 . . . 12... 19... 26... 1,263 2,503 2,987 2,066 Mar. 1 . . . 8... 15... 22... 29... Oct. 2 . . . 9... 16... 23... 30... 631 681 592 659 844 Dec. 2 . . . 9... 16... 23... 30... 1,096 1,644 1,696 1,325 1,681 Feb. 2 . . . 9... 16... 23... 2,632 1,783 1,895 2,087 Apr. 5 . . . 12... 19... 26... Nov. 6 . . . 13... 20... 27... 1,002 1,471 1945—Jan. 6 . . . 13... 20... 27... 1,968 2,261 1,858 1,389 Mar. 2 . . . 9... 16... 23... 30... 1,822 1,064 1,206 1,297 1,386 May 3 . . . 10... 17... 24... 31... Dec. 4 . . . 11... 18... 25... 754 Feb. 3 . . . 10... 17... 24... 1,741 1,652 2,080 1,828 Apr. 6 . . . 13... 20... 27... 1,656 1,546 1,607 1,483 June 7 . . . 14... 21... 28... 1,002 1,035 1,821 1,826 May 4 . . . 11... 18... 25... 1,109 1,513 1,211 1,393 July 5 . . . 12... 19... 26.,. 1,151 1,340 1,305 1,192 952 960 843 700 1,054 855 696 1,149 1,038 833 728 742 647 767 901 979 761 906 780 950 1,419 892 882 754 1,250 1,152 824 705 953 1944__Jan. 1 . . . 8... 15... 22... 29... 1,034 902 957 883 757 Mar. 3 . . . 10... 17... 24... 31... Feb. 5 . . . 12... 19... 26... 869 772 889 993 Apr. 7.. . 14... 21... 28... June 1 . . . 8... 15... 22... 29... 1,991 1,227 1,141 1,282 1,123 Aug. 2 . . . 9... 16... 23... 30... 1,155 1,152 1,972 1,686 Mar. 4 . . . 11... 18... 25... 824 1,306 1,524 1,364 May 5 . . . 12... 19... 26... 1,599 1,662 1,370 1,305 July 6 . . . 13... 20... 27... 950 989 1,024 1,193 Sept. 6 . . . 13... 20... 27... 794 817 919 776 907 902 823 990 Oct. 4 . . . 11... 18... 25... 1,101 1,070 1,721 1,564 917 1,078 1,049 725 759 805 675 672 Apr. 1 . . . 8... 15... 22... 29... 1,007 790 691 796 623 June 2 . . . 9... 16... 23... 30... 1,699 1,677 1,885 2,217 2,306 Aug. 3 . . . 10... 17... 24... 31... 1,511 May 6 . . . 13... 20... 27... 692 700 771 939 July 7 . . . 14... 21... 28... 1,130 Sept. 7 . . . 14... 21... 28... 2,901 2,796 2,349 1,851 Nov. 1 . . . 8... 15... 22... 29... 1,113 June 3 . . . 10... 17... 24... 1,098 1,210 2,330 1,761 Aug. 4 . . . 11... 18... 25... 778 Oct. 5 . . . 12... 19... 26... 1,042 1,739 1,596 Dec. 6 . . . 13... 20... 27... 1,080 1,204 1,414 1,334 136 984 1,149 961 1,172 1,134 1,265 960 916 871 1,016 969 17. TRADING IN STOCKS ON THE NEW YORK STOCK EXCHANGE: ROUND-LOT VOLUME — Continued B. WEEKLY, 1934-63 — Continued [In thousands of shares] Week ending— Daily average Week ending— 1948—Jan. 3 . . 10.. 17.. 24.. 1,205 1,055 940 1,048 1949_Mar. 5 . . . 12... 19... 26... 31.. yiZ Week ending— Week ending— Daily average Week ending— Daily average Week ending— Daily average 800 920 793 856 1950—May 6 . . . 13... 20... 27... 2,365 1,914 1,986 1,670 1951—July 7 . . . 14... 21... 28... 1,424 1,196 1,395 1,728 1952—Sept. 6 . . . 13... 20... 27... 1,191 1,341 1,192 1,359 1953—Nov. 7 . . . 14... 21... 28... 1,563 1,429 1,343 1,507 June 3 . . . 10... 17... 24... 1,559 2,097 1,743 1,768 Aug. 4 . . . 11... 18... 25... 1,876 1,666 1,586 1,341 Oct. 4 . . . 11... 18... 25... 1,036 1,088 1,489 1,104 Dec. 5 . . . 12... 19... 26... 1,705 1,414 1,603 1,563 Daily average Daily average Feb. 7.. 14.. 21.. 28.. 1,044 1,203 768 773 Apr. 2 . . . 9... 16... 23... 30... 1,332 984 928 1,065 882 Mar. 6 . . 13.. 20.. 27.. 779 812 1,197 1,427 May 7 . . . 14... 21... 28... 956 825 888 843 July 1 . . . 8... 15... 22... 29... 3,758 1,751 2,848 2,581 2,610 Sept. 1 . . . 8... 15... 22... 29... 1,617 2,047 2,402 2,237 1,722 Nov. 1 . . . 8... 15... 22... 29... 1,196 1,658 1,473 1,920 2,028 1954—Jan. 2 . . . 9... 16... 23... 30... 2,066 1,417 1,518 1,804 1,937 Apr. 3 . . 10.. 17.. 24.. 1,355 1,318 1,503 2,148 June 4 . . . 11... 18... 25... 1,028 1,012 1,019 748 Aug. 5 . . . 12... 19... 26... 1,935 2,052 1,829 1,802 Oct. 6 . . . 13... 20... 27... 2,084 1,861 1,907 2,176 Dec. 6 . . . 13... 20... 27... 1,680 1,925 1,908 1,749 Feb. 6 . . . 13... 20... 27... 1,787 1,888 1,742 1,551 May 1.. 8.. 15.. 22.. 29.. 1,556 1,520 2,683 2,723 1,821 733 July 2 . . . 9 . . . • 982 1,002 16... 23... 1,162 30... 1,015 Sept. 2 . . . 9... 16... 23... 30... 1,472 1,609 2,393 2,176 2,343 Nov. 3 . . . 10... 17... 24... 1,658 1,510 1,280 1,235 1953—Jan. 3 . . . 10... 17... 24... 31... 1,850 1,969 1,545 1,373 1,642 Mar. 6 . . . 13... 20... 27... 2,028 1,839 1,787 1,833 June 5.. 12.. 19.. 26.. 1,375 1,658 1,698 1,677 Aug. 6 . . . 13... 20... 27... 1,160 1,291 1,103 805 Oct. 7 . . . 14... 21... 28... 2,734 2,315 2,217 2,244 Dec. 1 . . . 8... 15... 22... 29... 1,373 1,679 1,455 1,438 1,563 Feb. 7 . . . 14... 21... 28... 1,779 1,430 1,326 2,242 Apr. 3 . . . 10... 17... 24... 2,157 2,066 2,086 1,979 1,047 1,163 1,585 1,518 QQ"? yo 1 Sept. 3 . . . 10... 17... 24... 777 879 1,497 1,399 Nov. 4 . . . 11... 18... 25... 1,878 2,150 2,010 2,602 1952—Jan. 5 . . . 12... 19... 26... 1,425 1,697 1,698 1,874 Mar. 7 . . . 14... 21... 28... 1,769 1,707 1,910 1,935 vrQV iviay July 3 . . 10.. 17.. 24.. 31.. •? "JAft Z,Z**\J Aug. 7.. 14.. 21.. 28.. 849 868 676 626 Oct. 1 . . . 8... 15... 22... 29... 1,258 1,402 1,556 ,350 [,569 Dec. 2 . . . 9... 16... 23... 30... 2,487 2,406 2,822 3,818 3,532 Feb. 2 . . . 9... 16... 23... 1,828 1,534 1,342 1,658 Apr. 4 . . . 11... 18... 25... 2,456 2,056 1,419 1,573 June 5 . . . 12... 19... 26... 1,830 1,928 1,703 2,065 Sept. 4 . . 11.. 18.. 25.. 830 1,088 737 908 Nov. 5 . . . 12... 19... 26... 1,472 [,397 [,511 1,426 1951—Jan. 6 . . . 13... 20... 27... 3,588 3,536 3,717 2,603 Mar. 1 . . . 8... 15... 22... 29... 1,254 1,479 1,415 1,294 1,386 May 2 . . . 9... 16... 23... 30... 1,275 1,251 1,126 1,367 1,169 July 3 . . . 10... 17... 24... 31... 2,053 2,314 2,565 2,576 2,610 Oct. 2 . . 9.. 16.. 23.. 30.. 944 710 906 1,412 1,099 Dec. 3 . . . 10... 17... 24... 31... 1,694 1,788 2,204 1,564 1,994 Feb. 3 . . . 10... 17... 24... 2,902 2,607 2,209 1,954 Apr. 5 . . . 12... 19... 26... 1,538 1,235 1,650 1,385 June 6 . . . 13... 20... 27... 1,307 1,457 1,102 1,024 Aug. 7 . . . 14... 21... 28... 3,189 2,761 2,495 2,022 Nov. 6.. 13.. 20.. 27.. 2,348 1,743 1.054 1,142 1950—Jan. 7 . . . 14... 21... 28... 2,260 3,014 1,625 1,514 Mar. 3 . . . 10... 17... 24... 31... 1,787 1,745 2,125 1,411 1,462 May 3 . . . 10... 17... 24... 31... 1,288 1,140 990 1,211 1,126 July 4 . . . 11... 18... 25... 877 914 926 894 Sept. 4 . . . 11... 18... 25... 1,923 1,849 2,080 2,155 Dec. 4 . . 11.. 18.. 25.. 1,294 1,279 ,116 1,106 Feb. 4 . . . 11... 18... 25... 2,059 1,780 2,212 1,579 Apr. 7 . . . 14... 21... 28... 1,524 1,715 1,593 1,789 June 7 . . . 14... 21... 28... 1,377 1,357 1,246 1,324 Aug. 1 . . . 8... 15... 22... 29... 1,160 ,078 1,012 1,009 1,242 Oct. 2 . . . 9... 16... 23... 30... 1,899 2,158 2,117 2,091 2,098 1.. 8.. 15.. 22.. 29.. ,544 .087 832 837 953 Mar. 4 . . . 11... 18... 25... 1,615 1,534 1,689 1,895 May 5 . . . 12... 19... 26... 2,067 1,851 1,747 1,788 July 5 . . . 12... 19... 26... 1,457 1,121 1,202 1,125 Sept. 5 . . . 12... 19... 26... 1,311 1,134 1,893 1,108 Nov. 6 . . . 13... 20... 27... 2,640 3,231 3,358 3,422 Feb. 5.. 12.. 19.. 26.. 954 1,106 796 857 Apr. 1 . . . 8... 15... 22... 29... 2,189 2,028 2,583 3,123 2,329 June 2 . . . 9... 16... 23... 30... 1,272 1,281 1,353 1,255 1,917 Aug. 2 . . . 9... 16... 23... 30... 1,220 1,210 1,114 1,043 996 Oct. 3 . . . 10... 17... 24... 31... ,021 981 ,436 ,290 1,358 Dec. 4 . . . 11... 18... 25... 3,364 3,701 3,041 3,542 1949_j a n . 137 i i . . . 8... 15... 22... 29... 1,987 2,020 2,230 2,146 17. TRADING IN STOCKS ON THE NEW YORK STOCK EXCHANGE: ROUND-LOT VOLUME — Continued B. WEEKLY, 1934-63 — Continued [In thousands of shares] Week ending— Daily average Week ending— Daily average Week ending— Daily average Week ending— Daily average Week ending— Daily average Week ending— Daily average 1 9 5 5 _ j a n . 1.. 3,697 4,589 3,474 2,803 1956—Mar. 3 . . . 10... 17... 24... 2,835 2,835 3,086 2,818 1957—May 4 . . . 11... 18... 25... 2,409 2,414 2,617 2,236 1958—July 5 . . . 12... 19... 26... 2,607 2,502 3,083 3,716 1959—Sept. 5 . . . 12... 19... 26... 2,315 2,785 2,444 3,202 I960—Nov. 5 . . . 12... 19... 26... 2,692 3,436 2,794 3,177 Feb. 5 . . 12.. 19.. 26.. 3,254 3,422 3,364 2,876 Apr. 7 . . . 14... 21... 28... 2,839 2,587 2,327 2,522 June 1 . . . 8.. . 15... 22... 29... Aug. 2 . . . 9... 16... 23... 30... 3,752 3,705 2,924 2,454 2,716 Oct. 3 . . . 10... 17... 24... 31... 2,728 2,373 2,309 2,777 3,821 Dec. 3 . . . 10... 17... 24... 31... 3,362 3,663 3,569 3,685 4,134 Mar. 5 . . 12.. 19.. 26.. 2,990 3,242 2,906 2,475 May 5 . . . 12... 19... 26... 2,637 2,571 2,230 2,308 July 6 . . . 13... 20... 27... 2,169 2,172 2,646 2,181 1,897 2,314 2,649 2,224 1,806 Sept. 6 . . . 13... 20... 27... 2,950 3,146 3,622 3,696 Nov. 7 . . . 14... 21... 28... 3,471 3,239 3,427 3,417 1961—Jan. 7 . . . 14... 21... 28... 3,591 4,445 4,147 4,380 Apr. 2 . . 16.. 23.. 30.. 2,816 2,358 2,868 2,895 2,576 June 2 . . . 9... 16... 23... 30... 2,170 1,976 1,775 1,599 1,800 Aug. 3 . . . 10... 17... 24... 31... 1,775 1,884 1,760 1,984 2,000 Oct. 4 . . . 11... 18... 25... 3,846 3,821 4,881 3,893 Dec. 5 . . . 12... 19... 26... 3,607 3,400 3,219 2,862 Feb. 4 . . . 11... 18... 25... 4,879 4,654 4,604 5,174 May 7 . . 14.. 21.. 28.. 2,313 2,208 2,138 2,028 July 7 . . . 14... 21... 28... 1,968 2,272 2,262 2,110 Sept. 7 . . . 14... 21... 28... 1,370 1,810 1,636 2,528 Nov. 1 . . . 8... 15... 22... 29... 4,147 3,980 4,158 4,143 4,235 I960—Jan. 2 . . . 9... 16... 23... 30... 3,336 3,605 3,536 2,844 2,801 Mar. 4 . . . 11... 18... 25... 5,421 5,805 5,292 5,397 June 4 . . 11.. 18.. 25.. 2,428 2,902 2,678 2,705 Aug. 4 . . . 11... 18... 25... 2,331 2,308 1,806 1,779 Oct. 5 . . . 12... 19... 26... Dec. 6 . . . 13... 20... 27... 3,513 3,819 3,731 2,981 Feb. 6 . . . 13... 20... 27... 2,814 2,697 3,458 3,172 Apr. 1 . . . 8... 15... 22... 29... 4,940 5,798 5,134 4,943 4,480 July 2 . . 16.. 23.. 30.. 2,308 2,891 2,321 2,316 2,233 Sept. 1 . . . 8... 15... 22... 29... 1,606 1,789 1,967 2,090 1,958 Nov. 2 . . . 9... 16... 23... 30... 1,613 3,115 2,632 4,161 1,992 2,416 2,334 2,501 3,077 1959—Jan. 3 . . . 10... 17... 24... 31... 3,760 4,168 4,203 3,860 3,744 Mar. 5 . . . 12... 19... 26... 3,248 3,196 2,590 2,719 May 6 . . . 13... 20... 27... 4,613 5,205 4,855 3,847 Aug. 6 . . 13.. 20.. 27.. 2,109 1,735 1,455 1,959 Oct. 6 . . . 13... 20... 27... 2,077 1,481 1,635 1,570 Dec. 7 . . . 14... 21... 28... 2,215 2,297 2,635 2,477 Feb. 7 . . . 14... 21... 28... 3,228 2,959 2,701 4,089 Apr. 2 . . . 9... 16... 23... 30... 2,442 2,928 2,613 2,994 2,995 June 3 . . . 10... 17... 24... 3,932 3,944 3,264 3,215 Tiilv 1 Sept. 3 . . 10.. 17.. 24.. 1,812 2,426 2,620 2,408 Nov. 3 . . . 10... 17... 24... 2,120 2,287 2,009 2,250 1958—Jan. 4 . . . 11... 18... 25... Mar. 7 . . . 14... 21... 28... 0 71 1 Z, /11 4,339 2,103 2,443 1,733 Dec. 1 . . . 8... 15... 22... 2,257 2,398 2,362 2,253 Feb. 1 . . . 8... 15... 22... Apr. 4 . . . 11... 18... 25... 4,204 4,237 4,323 3,217 3,128 3,125 3,565 3,558 May 7 . . . 14... 21... 28... Oct. 1.. 3,267 2,231 2,420 2,324 2,151 2,474 2,001 1,840 June 4 . . . 11... 18... 25... Aug. 5 . . . 12... 19... 26... 3,767 3,633 3,605 3,444 / Sept. 2 . . . 9... 16... 23... 30... 3,033 3,446 2,979 3,183 3,311 8.. 15.. 22.. Ay. . 9.. 9.. •i "if.") J, JOZ -1 1 ji... 9 848 Z,o*fo July i . . . . 1 /7O 1, "7Q8 Zy. . . Nov. 5 . . 12.. 19.. 26.. 1,939 2,338 2,486 2,244 1957_jan. 5 . . . 12... 19... 26... 2,654 2,372 2,301 2,100 Mar. 1 . . . 8... 15... 22... 29... 1,725 2,090 2,401 2,263 2,171 May 2 . . . 9... 16... 23... 30... 3,555 3,799 3,623 3,194 2,975 July 2 . . . 9... 16... 23... 30... 2,791 3,084 3,945 3,195 3,648 3,501 3,540 3,656 2,964 2,954 2,599 2,510 2,773 Dec. 3 . . 10.. 17.. 24.. 2,498 2,619 2,437 2,388 2,252 Feb. 2 . . . 9.. . 16... 23... 1,810 2,088 2,388 1,741 Apr. 5 . . . 12... 19... 26... 2,160 2,075 2,445 2,722 June 6 . . . 13... 20... 27... 2,957 3,094 2,625 2,954 Aug. 6 . . . 13... 20... 27... 2,569 2,940 2,741 3,060 Oct. 7 . . . 14... 21... 28... 3,248 3,235 3,364 3,398 July 4 . . . 11... 18... 25... 3,239 3,744 3,112 2,957 Sept. 3 . . . 10... 17... 24... 2,990 2,713 2,414 2,986 Nov. 4 . . . 11... 18... 25... 3,600 4,821 4,380 4,399 Aug. 1 . . . 8... 15... 22... 29... 3,014 2,554 2,776 2,352 2,101 Oct. 1 . . . 8... 15... 22... 29... 3,571 2,442 2,195 2,586 3,173 Dec. 2 . . . 9... 16... 23... 30... 4,457 4,202 4,398 3,543 4,313 8.. 15.. 22.. Zy. ji.. Z,JJ 1956—Jan. 7 . . 14.. 21.. 28.. 2,341 2,420 2,274 2,123 Mar. 2 . . . 9... 16... 23... 30... 1,652 1,810 1,658 1,612 1,710 May 3 . . . 10... 17... 24... 31... 2,481 2,821 2,662 2,507 2,324 Feb. 4 . . 11.. 18.. 25.. 1,955 2,062 2.119 2,642 Apr. 6 . . . 13... 20... 27... 1,948 2,398 2,168 2,683 June 7 . . . 14... 21... 28... 2,706 2,641 2,746 2,667 138 8... 15... 22... 29... 2,991 2,969 2,710 3,472 17. TRADING IN STOCKS ON THE NEW YORK STOCK EXCHANGE: ROUND-LOT VOLUME — Continued B. WEEKLY, 1934-63 — Continued [In thousands of shares] Week ending— Daily average Week ending— Daily average Week ending— Daily average Week ending— Daily average Week ending— Daily average Week ending— Daily average 1962—Jan. 6 . . 13.. 20.. 27.. 3,949 3,727 3,625 3,564 1962—May 5 . . . 12... 19... 26... 3,874 3,684 3,913 4,598 2,866 3,024 2,927 3,519 1963—Jan. 5 . . . 12... 19... 26... 4,484 4,779 4,761 4,663 1963—May 4 . . . 11... 18... 25... 4,593 4,856 5,075 4,920 1963—Sept. 7 . . . 14... 21... 28... 6,126 5,559 4,831 5,289 Feb. 3 . . 10.. 17.. 24.. 3,743 3,771 3,365 3,300 1962—Sept. 1 . . . 8... 15... 22... zy... Oct. 6 . . . 13... 20... 27... 2,791 2,365 3,336 5,012 Feb. 2 . . . 9... 16... 23... 4,273 4,042 4,522 4,236 4,299 4,740 5,403 6,071 3,455 4,615 3,192 2,783 Nov. 3 . . . 10... 17... 24... 4,015 4,353 4,758 4,618 3,812 3,349 3,521 3,433 3,870 4,158 5,463 4,566 4,109 3,973 Oct. 5 . . . 12... 19... 26... Mar. 2 . . . 9... 16... 23... 30... June 1 . . . 8... 15... 22... 29... July 6 . . . 13... 20... 27... 3,459 3,719 3,454 3,247 Nov. 2. .. 9... 16... 23... 30... 5,733 4,972 4,539 5,642 6,451 Aug. 4 . . . 3,378 1 1 . . . 2,866 1 8 . . . 3,762 2 5 . . . 4,099 Dec. 1 . . . 8... 15... 22... 29... 5,502 4,780 3,677 3,780 3,590 Apr. 6 . . . 13... 20... 27... 4,722 5,544 5,241 5,173 Aufe. 3 . . . 10... 17... 24... 31... 3,340 3,686 4,549 4,109 4,700 Dec. 7 . . . 14... 21... 28... 4,823 4,376 4,899 4,143 Mar. 3 . . 2,996 10.. 3,065 17.. 3,293 24.. 3,166 3 1 . . 2,985 Apr. 7 . . 14.. 21.. 28.. 3,057 3,185 3,115 3,485 June 2 . . . 10,141 9 . . . 4,208 16... 5,354 2 3 . . . 4,162 3 0 . . . 5,155 July 7 . . . 14... 21... 28... 139 18. TRADING IN STOCKS ON THE NEW YORK STOCK EXCHANGE: TOTAL VOLUME AND VALUE, 1941-63 Year Total Jan. Feb. Mar. Apr. May June July Aug Sept. Oct. Nov. Dec. Total volume (millions of shares) 1941 1942 1943 1944 226 168 361 338 19 21 22 24 13 11 29 22 13 12 48 35 15 10 45 18 J3 10 45 21 14 10 33 46 22 11 32 40 15 9 21 28 18 12 19 20 17 20 18 23 19 17 24 22 47 25 26 38 1945 1946 1947 1948 1949 496 502 337 393 353 51 69 32 28 26 42 52 32 23 22 38 36 25 28 25 34 44 29 44 28 42 46 27 55 24 50 32 23 42 24 32 29 32 33 26 29 28 22 21 29 31 58 20 22 30 46 38 36 26 36 52 33 22 36 36 47 37 35 35 48 1950 1951 1952 1953 1954 655 580 432 449 703 55 90 46 45 42 43 58 39 36 43 51 47 35 51 52 61 43 39 51 55 56 53 32 34 52 55 35 32 34 52 57 37 32 27 64 50 43 28 28 71 46 46 30 35 52 61 54 34 31 57 51 37 34 32 72 71 38 51 44 92 1955 1956 1957 1958 1959, 820 699 714 922 1,039 94 60 66 69 106 80 52 52 52 80 83 78 46 57 108 69 69 58 59 92 58 66 67 69 96 69 50 59 66 82 64 57 61 80 91 53 59 53 84 70 68 46 45 81 68 60 51 81 118 73 56 56 59 91 84 65 56 68 96 90 1960, 1961. 1962. 1963, 958 1,292 1,187 1,351 86 115 103 117 73 112 85 97 85 153 88 91 70 132 79 121 82 124 105 126 98 100 156 107 72 71 99 96 81 104 96 102 75 82 74 123 70 90 93 136 72 103 107 111 95 106 103 123 Value (millions of dollars) 1941 1942 1943 1944 5,253 3,673 7,670 8,252 519 446 433 562 336 251 528 565 319 288 861 831 348 226 869 471 324 226 823 578 350 233 715 998 522 259 783 898 344 214 509 610 427 242 467 518 412 400 454 617 422 352 586 617 929 537 641 986 1945 1946 1947 1948 1949 13,462 15,520 9,706 10,923 8,998 1,248 1,946 913 785 715 1,049 1,573 943 657 601 1,060 1,216 770 759 625 967 1,497 817 1,218 715 1,195 1,432 742 1,467 636 1,256 1,147 676 1,223 585 837 1,007 899 934 526 794 974 624 623 672 922 1,616 608 626 729 1,290 1,102 1,039 747 905 1,438 945 677 970 1,035 1,406 1,068 1,000 914 1,252 1950 1951 1952 1953 1954 18,725 18,185 14,720 14,218 24,249 1,408 2,570 1,617 1,412 1,294 1,164 1,785 1,350 1,173 1,458 1,421 1,436 1,214 1,616 1,751 1,530 1,318 1,373 1,538 1,877 1,603 1,739 1,074 1,126 1,844 1,678 1,141 1,093 1,105 1,820 1,692 1,169 1,110 903 2,142 1,456 1,392 977 946 2,410 1,379 1,444 1,009 1,067 1,850 1,796 1,712 1,117 993 2,030 1,617 1,198 1,143 998 2,577 1,981 1,277 1,640 1,342 3,195 1955 1956 1957 1958 1959 32,745 29,787 27,451 32,754 43,476 3,435 2,463 2,586 2,292 4,195 3,058 2,181 1,982 1,832 3,143 3,270 3,242 1,711 2,044 4,331 2,733 2,910 2,259 2,019 3,939 2,302 2,817 2,806 2,319 4,119 2,779 2,138 2,516 2,341 3,676 2,652 2,428 2,615 2,829 3,929 2,223 2,669 2,215 2,895 3,026 2,841 2,057 1,779 2,922 2,875 2,592 2,215 2 fill 4,172 3,069 2,352 2,397 1,960 3,407 3,407 2,509 2,269 2,200 3,682 3,767 1960 1961 1962, 1963, 37,960 52,699 47,341 54,887 3,518 4,176 4,366 4,357 3,068 4,407 3,545 3,741 3,356 5,930 3,703 3,485 2,939 5,205 3,335 4,794 3,291 4,971 4,649 4,849 3,967 4,293 6,034 4,279 2,862 3,051 3,789 3,827 3,119 4,338 3,575 4,215 2,867 3,543 2,930 5,161 2,700 3,898 3,518 5,943 2,785 4,420 4,040 5,082 3,487 4,467 3,857 5,154 NOTE.—Reported by the Securities and Exchange Commission. 140 19. MARGIN REQUIREMENTS, 1934-63 [Perc ent of market value] 1 Effective date Regulation Oct. 1, 1934 Feb. 1, 1936 Apr. 1, 1936 Nov. 1, 1937 Feb. 5, 1945 July 5, 1945 Jan. 21, 1946 25-45 25-55 55 40 50 50 50 75 75 100 100 55 40 50 75 100 Regulation T: For extension of credit by brokers and dealers on listed securities For short sales Regulation U: For loans by banks on stocks Effective date Feb. 1, 1947 Mar. 30, 1949 Jan. 17, 1951 Feb. 20, 1953 Jan. 4, 1955 Apr. 23, 1955 Jan. 16, 1958 75 75 50 50 75 75 50 50 60 60 70 70 50 50 75 50 75 50 60 70 50 Regulation T: For extension of credit by brokers and dealers on listed securities For short sales Regulation U: For loans by banks on stocks Effective date Aug. 5, 1958 1 141 July 10, 1962 Nov. 6, 1963 90 90 70 70 50 50 70 70 70 Requirement was the margin "customarily required" by the broker. July 28, 1960 70 70 Regulation T: For extension of credit by brokers and dealers on listed securities. For short sales Regulation U: For loans by banks on stocks Oct. 16, 1958 90 70 50 70 20. STOCK MARKET CREDIT, 1938-63 [In millions of dollrif s] Broker and dealer credit Customer credit Month Total securities other than U. S. Govt. securities Net debit balances with N. Y. Stock Exchange firms secured by 1— U. S. Govt. securities Other securities Bank loans to others than brokers and dealers for purchasing or carrying 2— U. S. Govt. securities Other securities Money borrowed on 3— U. S. Govt. securities Other securities Customers' net free credit balances l 1938—Jan.. Feb.. Mar. Apr.. May. June, July. Aug., Sept. Oct.. Nov. Dec., 1,575 1,551 1,436 1,354 1,347 1,357 1,420 1,443 1,399 1,477 1,511 1,551 958 937 831 763 760 774 843 864 823 905 939 991 617 614 605 591 587 583 577 579 576 572 572 560 641 628 576 485 482 495 528 571 559 617 662 754 288 280 239 248 243 258 284 272 257 270 252 247 1939—Jan.. Feb.. Mar. Apr., May, June, July. Aug., Sept. Oct.. Nov. Dec, 1,511 1,496 1,484 1,366 1,367 1,377 1,367 1,311 1,366 1,404 1,413 1,412 971 967 953 831 828 834 839 792 856 894 914 906 540 529 531 535 539 543 528 519 510 510 499 506 713 709 699 579 561 570 589 556 520 577 623 637 235 222 225 236 230 230 238 235 305 289 272 266 1940—Jan.. Feb.. Mar. Apr., May. June, July. Aug., Sept. Oct.. Nov. Dec, 1,371 1,371 1,364 1,383 1,183 1,120 1,116 1,098 1,097 1,108 1,126 1,142 886 893 886 910 702 653 642 631 635 653 666 677 485 478 478 473 481 467 474 467 462 455 460 465 602 616 615 626 459 376 376 368 370 381 383 427 262 253 247 252 251 267 261 256 268 269 280 281 1941_Jan.. Feb.. Mar. Apr.. May. June. July. Aug.. Sept. Oct.. Nov., Dec. 1,120 1,089 1,086 1,051 1,073 1,068 1,067 1,065 1,070 1,059 1,053 1,022 661 634 633 606 622 616 628 628 633 628 625 600 459 455 453 445 451 452 439 437 437 431 428 422 392 369 383 364 399 393 384 457 394 412 407 363 275 267 268 265 262 255 266 262 260 255 264 289 1942—Jan.. Feb.. Mar., Apr.. May. June. July. Aug.. 956 944 938 910 907 892 898 869 881 879 876 925 547 534 531 515 502 496 491 490 500 510 520 543 409 410 407 395 405 396 407 379 381 369 356 382 305 311 307 301 299 308 308 297 311 306 316 380 274 262 249 247 238 240 238 240 240 250 250 270 882 896 954 540 550 610 670 740 761 780 740 820 830 780 789 342 346 344 504 506 424 379 366 999 978 717 578 Sept., Oct.. Nov., Dec. 1943—Jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. 1,174 1,246 1,185 1.159 ,106 ,819 ,808 ,497 ,367 For notes see p. 146. 142 294 321 52 220 139 93 78 67 286 264 176 138 299 350 407 443 454 422 482 479 428 430 280 310 320 330 330 334 340 340 320 330 340 354 20. STOCK MARKET CREDIT, 1938-63 — Continued [In millions of dollars] Broker and dealer credit Customer credit i-— Net debit balances with Total N . Y . Stock Exchange securities firms secured by *— other than U . S. Govt. securities U . S. Govt. Other securities securities Month 1,081 1,118 1,121 1,067 1,100 1,208 1,286 1,278 1,279 1,285 1,271 1,394 1944—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec. Bank loans to others than brokers and dealers for purchasing or carrying 2 — U . S. Govt. securities Other securities M o n e y borrowed on 3 — U. S. Govt. securities Other securities Customers' net free credit 1 balances 278 838 579 355 279 1,295 1 318 917 618 522 505 1,526 780 800 820 780 790 887 940 940 940 950 940 1,041 301 318 301 287 310 321 346 338 339 335 331 353 143 194 178 165 120 166 188 158 151 149 167 248 420 455 452 435 426 472 475 474 488 519 478 520 370 370 380 390 400 424 420 410 420 430 430 472 1,439 1,446 1,268 1,311 1,348 1,460 1,393 1,346 1,328 1,321 1,330 1,374 109 106 110 137 145 148 153 158 181 196 925 958 984 1,065 996 952 930 905 914 942 1,093 899 741 623 600 2,012 2,050 1,599 1 283 890 1,222 2,495 369 346 343 353 364 395 397 394 398 416 416 432 206 197 170 162 173 230 213 207 215 217 236 292 526 534 551 539 568 639 611 551 547 526 475 517 530 540 553 575 583 569 579 573 594 632 639 652 1,436 1,312 1,195 1,167 1,162 1,129 1,191 1,136 1,034 1,001 979 976 193 172 166 154 144 140 109 99 82 75 80 74 974 874 769 740 712 675 636 624 549 508 491 473 2,225 2 082 ,948 830 ,663 559 ,460 355 ,160 013 901 753 462 438 426 427 450 454 555 512 485 493 488 503 262 244 231 199 191 178 143 119 94 75 72 66 472 401 390 377 356 338 299 258 211 178 166 163 727 755 712 697 669 657 653 647 729 720 723 704 1947 Jan. Feb Mar. Apr May June July Aug Sept. .. Oct Nov Dec 978 1,003 1,007 1,000 950 968 998 949 969 1,026 1,005 1,032 69 66 65 62 63 62 68 77 78 79 76 61 464 507 511 491 468 488 496 474 492 529 517 517 625 616 561 542 527 498 522 502 497 480 433 376 514 496 496 509 482 480 502 475 477 497 488 515 62 56 56 45 51 55 75 83 78 72 72 44 149 161 160 161 150 169 176 157 202 185 175 199 687 681 677 665 652 651 677 656 630 614 615 613 1948 Jan Feb. Mar Apr May June.. July Aug Sept Oct Nov Dec 1,011 960 964 976 1,031 1,056 1,041 1,011 1,016 1,025 1,008 968 56 57 62 66 69 68 74 54 47 45 49 52 511 480 488 506 546 551 535 518 524 535 502 499 312 294 286 280 281 275 272 249 225 209 198 202 500 480 476 470 485 505 506 493 492 490 506 469 37 49 56 63 62 66 69 47 33 32 49 53 180 159 173 177 196 218 218 205 205 219 196 210 622 596 592 614 619 579 577 551 550 540 563 587 933 923 899 976 1,030 1,021 1,048 1,069 1,110 1,131 1,204 1,249 56 58 64 68 67 80 77 75 73 72 63 61 481 469 466 558 593 603 613 624 667 711 751 821 187 189 205 199 200 2"41 224 220 195 184 173 171 452 454 433 418 437 418 435 445 443 420 453 428 55 52 64 69 64 84 83 81 62 60 52 55 191 173 190 260 290 415 316 323 357 356 393 454 573 565 551 542 535 532 530 548 580 586 596 636 1945 Jan. Feb Mar Apr May .. . July AUK. Sept Oct. Nov Dec. 1946 Jan.. Feb Mar.. . Apr May. . . July.. . Aug Sept Oct Nov . . Dec ... 1949 Jan Feb.... Mar Apr. May June July Aug. Sept Oct.... Nov. Dec. ... 1,070 1 10O For notes see p. 146. 143 20. STOCK MARKET CREDIT, 193&-63 — Continued [In millions of dollars] Customer credit Month Total securities other than U. S. Govt. securities Net debit balances with N.Y. Stock Exchange firms secured by 1— U. S. Govt. securities 1950—Jan.. Feb., Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 1,277 1,337 1,415 1,502 1,600 1,688 1,606 1,648 1,697 1,771 1,838 1,798 46' 47 47 51 64 75 103 126 122 123 127 121 1951—Jan.. Feb.. Mar. Apr.. May, June, July. Aug., Sept. Oct.. Nov. Dec. 1,884 1,846 1,822 1,838 1,842 1,826 1,799 1,789 1,810 1,807 1,796 1,826 1952—Jan.. Feb.. Mar. Other securities Broker and dealer credit Bank loans to others than brokers and dealers for purchasing or carrying 2— U. S. Govt. securities Other securities Money borrowed on 3— U. S. Govt. securities Customers' net free credit balances J Other securities 1,034 1,111 1,180 1,105 1,104 1,163 1,228 1,233 1,237 150 137 145 138 138 144 164 199 184 186 187 175 422 431 443 468 489 508 501 544 534 543 605 561 38 43 42 38 63 69 121 147 141 133 141 136 455 480 537 581 687 757 634 605 610 626 633 617 669 669 666 678 657 677 712 708 739 771 796 890 114 97 54 45 41 38 43 41 41 40 41 40 1,297 1,269 1,250 1,241 1,246 1,239 1,223 1,219 1,249 1,250 1,238 1,253 167 171 146 127 121 129 135 128 131 127 122 118 587 577 572 597 596 587 576 570 561 557 558 573 110 79 36 32 36 35 42 39 40 45 40 36 580 563 678 629 645 631 630 585 600 608 609 659 948 953 918 879 855 838 825 816 843 853 805 822 1,811 1,799 1,814 1,844 1,845 1,844 1,884 1,938 1,935 1,913 1,937 1,980 39 40 39 38 33 32 67 48 39 31 32 33 1,250 1,241 1,254 1,277 1,279 1,290 1,320 1,290 1,293 1,285 1,314 1,332 106 102 100 93 93 103 153 134 132 114 109 149 561 558 560 567 566 554 564 648 642 628 623 648 34 38 37 36 34 41 161 60 43 29 31 30 599 614 696 782 813 873 966 866 848 831 847 877 809 790 766 756 726 714 692 675 692 692 706 727 1953—Jan.. Feb.. Mar.. Apr.. May. June. July., Aug.. Sept.. Oct.. Nov.. 31 30 28 25 40 35 29 27 34 31 31 31 1,314 1,320 1,486 1,569 1,631 1,650 1,635 1,655 1,592 1,610 1,623 1,665 130 132 52 59 60 57 50 52 53 55 71 88 741 739 740 730 724 689 713 683 673 669 691 780 44 33 29 28 47 50 45 48 41 75 87 88 864 838 937 Dec. 2,055 2,059 2,226 2,299 2,355 2,339 2,348 2,338 2,265 2,279 2,314 2,445 732 730 744 738 673 659 650 641 674 672 682 713 1954—Jan.. Feb.. Mar.. Apr.. May. June. July., Aug.. Sept.. Oct.. Nov.. Dec. 2,443 2,405 2,444 2,535 2,666 2,678 2,734 2,830 2,953 3,050 3,203 3,436 34 35 39 38 45 37 33 31 34 36 40 41 1,655 1,653 1,677 1,748 1,796 1,822 1,893 1,967 2,048 2,095 2,202 2,388 70 67 80 62 68 43 34 34 36 38 31 65 788 752 767 787 870 856 841 863 905 955 1,018 1,001 1,048 90 93 83 85 103 82 70 69 66 69 63 69 1955—Jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct.. Nov.. Dec. 3,537 3,643 3,732 3,785 3,787 3,870 3,911 3,865 3,966 3,944 3,980 4,030 42 63 49 48 47 46 45 43 43 40 38 34 2,517 2,590 2,652 2,704 2,684 2,711 2,734 2,710 2,805 2,749 2,759 2,791 35 39 33 27 28 31 29 29 33 29 27 32 1,020 1,053 1,080 1,081 1,103 1,159 1,177 1,155 1,161 1,195 1,221 1,239 77 113 78 74 72 73 77 71 68 71 75 51 ,620 ,666 ,861 ,988 2,047 2,020 2,003 1,994 2,056 2,088 2,185 2,250 M*ay! June. July. Aug.. Sept., Oct.. Nov., Dec. 855 906 972 For notes see p. 146. 144 1,040 1,146 1,167 1,116 1,134 1,029 1,024 1,040 1,074 969 971 ,009 ,082 ,092 ,099 ,125 ,225 ,295 ,353 ,529 741 768 787 819 836 847 877 910 924 924 972 1,019 1,069 1,063 1,022 973 928 917 918 887 977 920 876 894 20. STOCK MARKET CREDIT, 1938-63 — Continued [In millions of dollars] Customer credit Month Total securities other than U. S. Govt. securities Net debit balances with N. Y. Stock Exchange firms secured by 1— U. S. Govt. securities Other securities Broker and dealer credit Bank loans to others than brokers and dealers for purchasing or carrying 2— U. S. Govt. securities Othersecurities Money borrowed on 3— U. S. Govt. securities Other securities Customers' net free credit 1 balances 1956—Jan.. . Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct.. . Nov.. Dec. 4,040 3,991 4,038 4,043 4,047 4,009 4,026 3,979 3,950 3,914 3,946 3,984 36 34 31 33 38 34 31 33 33 36 32 33 2,786 2,740 2,786 2,788 2,810 2,786 2,812 2,785 2,782 2,748 2,784 2,823 37 36 40 40 40 48 45 41 42 42 43 41 1,254 1,251 1,252 1,255 1,237 1,223 1,214 1,194 1,168 1,166 1,162 1,161 54 52 50 44 42 39 31 38 42 45 43 46 2,148 2,137 2,127 2,145 2,186 2,195 2,211 2,048 2,071 2,086 2,071 2,132 905 913 960 896 870 836 858 872 866 835 822 880 1957—Jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct.. Nov.. Dec. 3,902 3,846 3,832 3,938 3,924 4,031 4,004 3,929 3,882 3,643 3,577 3,576 29 35 28 28 39 31 32 30 35 39 42 68 2,761 2,729 2,713 2,792 2,794 2,887 2,885 2,833 2,789 2,568 2,517 2,482 41 31 27 28 26 25 23 24 21 31 33 60 1,141 1,117 1,119 1,146 1,130 1,144 1,119 1,096 1,093 1,075 1,060 1,094 42 53 47 53 52 52 59 58 63 72 56 125 1,964 2,004 1,958 2,051 2,063 2,104 2,079 2,035 2,046 ,708 ,641 ,706 866 828 820 807 817 820 829 816 838 879 876 896 1958—Jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct.. Nov.. Dec. 3,554 3,679 3,863 3,980 4,069 4,218 4,293 4,243 4,350 4,409 4,464 4,537 126 102 111 134 141 240 149 140 122 123 124 146 2,487 2,580 2,665 2,735 2,856 2,921 3,021 3,013 3,109 3,188 3,245 3,285 58 79 86 70 75 84 113 48 51 59 50 63 1,067 1,099 1,198 1,245 1,213 1,297 1,272 1,230 1,241 1,221 1,219 1,252 188 199 206 230 244 468 306 251 210 193 210 234 ,552 ,647 ,784 ,822 ,809 ,930 ,903 ,751 ,865 ,832 ,923 2,071 937 939 954 985 979 ,047 ,080 ,103 ,119 ,140 ,148 ,159 1959—Jan.. . Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct.. . Nov.. Dec. 4,597 4,569 4,636 4,764 4,758 4,734 4,654 4,534 4,449 4,408 4,467 4,461 155 157 153 166 164 158 153 154 156 168 165 150 3,297 3,253 3,305 3,401 3,385 3,388 3,374 3,269 3,250 3,210 3,273 3,280 62 65 55 55 58 58 168 169 166 161 161 167 1,300 1,316 1,331 1,363 1,373 1,346 1,280 1,265 1,199 1,198 1,194 1,181 230 223 218 252 252 237 228 217 231 227 236 221 ,990 ,963 1,977 2,156 2,159 2,246 2,205 2,199 2,149 2,178 2,256 2,362 ,226 ,196 ,257 ,205 ,188 ,094 ,079 ,035 ,039 967 974 996 I960—Jan... Feb.. Mar.. May! June. July.. Aug.. Sept.. Oct.. . Nov.. Dec. 4,372 4,281 4,165 4,161 4,142 4,221 4,143 4,252 4,292 4,303 4,303 4,415 134 138 117 113 130 106 110 111 122 111 99 95 3,198 3,129 3,028 3,037 3,021 3,082 3,004 3,109 3,137 3,133 3,141 3,222 158 150 141 139 144 139 139 145 151 140 133 138 1,174 1,152 1,137 1,124 1,121 1,139 1,139 1,143 1,155 1,170 1,162 1,193 190 202 161 185 208 162 187 173 177 161 139 142 2,233 2,194 2,059 2,155 2,115 2,110 2,042 2,063 2,143 2,139 2,129 2,133 998 981 988 940 970 ,016 ,018 ,021 ,059 ,063 ,062 ,135 1961—Jan... Feb.. Mar.. Apr.. May. June. July. . Aug.. Sept.. Oct.. Nov.. Dec. 4,424 4,532 4,787 5,190 5,386 5,367 5,355 5,349 5,311 5,333 5,460 5,602 77 68 55 50 40 51 50 49 46 44 39 35 3,253 3,358 3,601 3,936 4,060 4,024 3,991 3,972 3,991 4,029 4,141 4,259 126 132 113 112 108 104 106 102 109 103 102 125 1,171 1,174 1,186 1,254 1,326 1,343 1,364 1,377 1,320 1,304 1,319 1,343 101 94 70 67 58 67 69 56 64 56 51 48 1,937 1,905 1,927 2,284 2,529 2,748 2,728 2,679 2,666 2,654 2,752 2,954 ,269 ,392 ,507 ,508 ,453 ,283 ,207 ,208 ,227 ,214 ,213 ,219 For notes see p. 146. 145 20. STOCK MARKET CREDIT, 1938-63 — Continued [In millions of dollars] Customer credii Month Total securities other than U.S. Govt. securities Net debit balances with N. Y. Stock Exchange firms secured by 1— Broker and dealer credit Bank loans to others than brokers and dealers for purchasing or carrying 2— Money borrowed on 3— U.S. Govt. securities Other securities U.S. Govt. securities Other securities U.S. Govt. securities Other securities Customers' net free credit 1 balances 1962—Jan.. Feb.. Mar. Apr.. May. June. July. Aug., Sept. Oct.. Nov. Dec.. 5,464 5,426 5,457 5,491 5,408 4,938 4,876 5,073 5,156 5,165 5,285 5,494 34 34 34 36 35 32 29 23 27 25 24 24 4,111 4,066 4,083 4,079 4,000 3,605 3,562 3,773 3,887 3,864 3,951 4,125 111 133 105 117 91 92 83 80 81 81 82 97 [,353 1,360 1,374 1,412 1,408 1,333 1,314 1,300 1,269 1,301 1,334 1,369 51 71 52 57 44 46 32 35 49 29 28 35 2,860 2,812 2,912 3,015 2,845 2,194 2,091 2,472 2,689 2,596 2,558 2,785 1,225 1,190 1,154 1,110 1,205 1,374 [,252 [,130 1,091 [,126 1,151 1,216 1963—Jan.. Feb.. Mar. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec.. 5,595 5,717 5,754 5,978 6,229 6,420 6,511 6,660 6,971 7,180 7,298 7,242 28 23 28 27 24 32 25 23 41 29 34 26 4,208 4,332 4,331 4,526 4,737 4,898 4,895 5,034 5,316 5,495 5,586 5,515 95 91 100 99 75 104 81 87 86 83 90 140 ,387 1,385 ,423 ,452 1,492 1,522 ,616 ,626 ,655 ,685 1,712 ,727 32 35 63 33 33 44 29 23 69 33 28 32 2,895 3,059 3,129 3,239 3,655 3,909 3,836 3,933 4,100 4,218 4,457 4,449 1,199 1,191 1,175 1,201 1,166 1,149 ,126 ,093 ,180 ,176 ,211 ,210 1 End-of-month ledger balance of member firms of the NYSE carrying margin accounts, as reported to the Exchange. 2 Weekly reporting member bank data for the last Wednesday of the month. 146 3 Member firms of the NYSE carrying margin accounts; end-of-month data through May 1955, last Wednesday thereafter. 21. DETAILED DEBIT AND CREDIT BALANCES AND RELATED ITEMS OF MEMBER FIRMS OF THE NEW YORK STOCK EXCHANGE CARRYING MARGIN ACCOUNTS, 1942-63 [In millions of dollars] 1942 1943 1944 1946 1945 1947 Item June DEBIT BALANCES Cash on hand and in banks Securities— Borrowed Sold, delivery pending (failed to deliver) Net debit balances due from— Member firms of national securities exchanges: N.Y. Stock Exchange Other exchanges All other customers exclusive of firms' own partners secured by— U.S. Govt. securities Other collateral Net debit balances in partners' individual investment & trading accounts Debit balances in— Firm investment accounts Firm trading & underwriting accounts Commodity margins on deposit with banks & commodity guaranty funds on deposit All other debit balances Total. CREDIT BALANCES Money borrowed From banks and trust companies: U.S. agencies of foreign banks U.S. banks: In New York City Elsewhere From other lenders (not including 1members of national securities exchanges) Securities— Loaned. Bought, delivery pending (failed to receive).... Net credit balances due to member firms of national securities exchanges: N.Y. Stock Exchange Other exchanges Credit balances of other customers exclusive of firms' own partners: Free credit balances Other net credit balances Credit balances & money borrowed which are subordinated to general creditors under approved agreements Net credit balances in partners' individual investment & trading accounts Credit balances in firm investment & trading accounts All other credit balances (except those included in the next item) Net balance in capital, profit & loss, & partners' drawing accounts Total. Dec 160 June Dec, 167 181 20 51 48 7 June Dec. June Dec. June Dec. 456 395 393 220 313 370 34 108 32 143 23 106 28 75 60 9 68 7 43 12 38 9 1,041 49 209 1,223 1,138 809 540 552 578 496 543 761 789 9 7 9 11 5 7 11 12 7 5 6 7 86 154 190 188 253 260 333 413 399 312 333 315 13 48 11 45 11 51 10 49 12 60 15 81 25 92 29 78 32 78 47 74 904 1,029 1,317 1,340 1,562 12 48 1,751 15 63 2,081 2,224 1,885 1,532 [,519 1,563 309 378 529 558 619 726 854 795 498 218 223 240 305 253 52 373 317 56 527 472 55 555 483 72 616 539 77 722 641 81 849 749 100 789 688 101 493 424 69 215 182 33 219 189 30 237 205 32 30 47 28 35 37 61 38 77 47 111 48 153 44 113 43 65 54 74 56 4 67 6 425 95 472 96 549 121 654 112 651 120 694 120 650 162 612 176 23 4 20 16 48 7 35 10 49 9 240 56 270 54 334 66 354 65 16 15 15 14 15 18 14 29 24 30 24 4 4 7 5 11 8 13 13 17 10 9 15 16 20 23 29 27 30 34 50 46 42 33 50 189 182 212 198 216 227 264 299 314 290 271 273 904 1,029 1,317 1,340 1,562 1,751 2,081 2,224 1,885 1,532 1,519 1,563 For note see p. 150. Dec, 25 81 196 17 40 50 7 180 June 147 21. DETAILED DEBIT AND CREDIT BALANCES AND RELATED ITEMS OF MEMBER FIRMS OF THE NEW YORK STOCK EXCHANGE CARRYING MARGIN ACCOUNTS, 1942-63 — Continued [In millions of dollars] 1949 1948 1950 1952 1951 1953 Item June 30 DEBIT BALANCES Cash on hand and in banks Securities— Borrowed Sold, delivery pending (failed to deliver) Net debit balances due from— Member firms of national securities exchanges: N.Y. Stock Exchange Other exchanges All other customers exclusive of firms' own partners secured by— U.S. Govt. securities Other collateral Net debit balances in partners' individual investment & trading accounts Debit balances in— Firm investment accounts Firm trading & underwriting accounts Commodity margins on deposit with banks & commodity guaranty funds on deposit All other debit balances Total. CREDIT BALANCES Money borrowed From banks and trust companies: U.S. agencies of foreign banks U.S. banks In New York City Elsewhere From other lenders (not including 1members of national securities exchanges) Securities— Loaned Bought, delivery pending (failed to receive).... Net credit balances due to member firms of national securities exchanges: N.Y. Stock Exchange Other exchanges Credit balances of other customers exclusive of firms' own partners: Free credit balances Other net credit balances Credit balances & money borrowed which are subordinated to general creditors under approved agreements Net credit balances in partners' individual investment & trading accounts Credit balances in firm investment & trading accounts All other credit balances (except those included in next item) Net balance in capital, profit & loss, & partners' drawing accounts Total. Dec. 31 June 30 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 349 280 306 314 397 364 378 365 343 38 114 332 44 151 50 94 51 97 43 79 June 30 38 100 40 9 49 8 282 Dec. 31 297 62 99 100 11 88 10 1,362 1,684 1,694 79 14 1,292 1,327 619 550 681 881 1,256 1,356 1,275 7 10 5 5 12 9 10 12 9 427 406 347 404 7 326 312 419 400 386 399 375 392 33 65 34 69 25 66 26 82 31 81 41 106 43 93 52 96 42 110 49 105 37 93 37 105 1,525 1,435 1,611 1,876 2,324 2,591 2,390 2,458 2,493 2,506 2,665 2,804 283 257 493 523 827 745 680 695 912 920 1,216 1,170 276 247 29 253 220 33 487 440 47 517 471 46 814 744 70 738 663 75 6 670 615 55 687 622 65 902 825 77 898 807 91 1,196 1,066 130 1,155 982 173 10 22 20 15 44 79 35 54 50 48 70 113 71 142 74 94 83 98 72 85 72 98 68 67 110 97 33 7 41 6 45 8 74 7 60 10 64 10 63 10 71 9 89 6 75 576 145 586 112 528 129 633 159 673 166 890 230 834 225 816 259 708 219 724 200 653 163 709 208 20 28 20 26 25 36 26 42 23 35 23 28 11 16 9 16 31 55 59 45 54 11 5 9 15 11 12 10 13 34 41 28 41 46 78 51 67 291 278 260 271 312 317 319 314 324 315 319 313 1,876 2,324 2,591 2,390 2,458 2,493 2,506 2,665 2,804 1,525 1,435 [,611 For note see p. 150. Dec. 31 148 21. DETAILED DEBIT AND CREDIT BALANCES AND RELATED ITEMS OF MEMBER FIRMS OF THE NEW YORK STOCK EXCHANGE CARRYING MARGIN ACCOUNTS, 1942-63 — Continued [In millions of dollars] 1954 1955 1956 1958 1959 Item June 30 DEBIT BALANCES Cash on hand and in banks Securities— Borrowed Sold, delivery pending (failed to deliver) Net debit balances due from— Member firms of national securities exchanges: N.Y. Stock Exchange Other exchanges All other customers exclusive of firms' own partners secured by— U.S. Govt. securities Other collateral Net debit balances in partners' individual investment & trading accounts Debit balances in— Firm investment accounts Firm trading & underwriting accounts Commodity margins on deposit with banks & commodity guaranty funds on deposit All other debit balances Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 June 30 309 348 337 331 322 336 324 363 64 122 91 207 85 214 75 168 65 148 79 183 134 170 129 291 77 10 114 15 144 16 162 13 151 14 157 16 132 15 159 18 1,857 2,443 2,768 2,830 2,811 34 2,832 253 2,926 165 3,370 10 11 14 18 21 20 35 36 335 486 286 336 626 673 707 625 41 98 44 116 35 144 38 188 38 137 34 134 23 151 39 190 3,080 Total. 492 215 348 4,014 4,430 4,530 4,332 4,388 4,985 5,382 1,173 1,616 2,115 2,345 2,266 2 2,195 2,387 2,508 1,159 976 183 1,603 1,343 260 2,075 1,744 331 2,319 2,010 309 2,231 7,572 359 622 2,078 1 1,743 1,712 1,402 366 341 605 1,871 1,428 444 CREDIT7BALANCES Money borrowed From banks and trust companies: U.S. agencies of foreign banks U.S. banks In New York City Elsewhere From other lenders (not including members of national securities exchanges) 1 Securities— Loaned Bought, delivery pending (failed to receive) Net credit balances due to member firms of national securities exchanges: N.Y. Stock Exchange Other exchanges Credit balances of other customers exclusive of firms' own partners: Free credit balances -. Other net credit balances Credit balances & money borrowed which are subordinated to general creditors under approved agreements Net credit balances in partners' individual investment & trading accounts Credit balances in firm investment & trading accounts All other credit balances (except those included in next item) Net balance in capital, profit & loss, & partners' drawing accounts Total. 14 14 40 27 35 69 21 31 116 123 162 201 156 218 130 167 124 156 140 177 187 181 204 294 96 14 126 11 129 7 123 125 120 9 132 13 838 248 1,023 287 918 241 889 227 837 207 878 229 1,034 367 1,070 277 20 22 23 45 64 372 53 65 95 401 31 62 85 467 44 27 102 462 34 34 78 466 36 37 90 471 34 82 83 483 38 71 149 604 3,080 4,014 4,430 4,530 4,332 4,388 4,985 5,382 245 150 1,451 156 161 [,824 204 98 239 105 64 198 24 316 24 320 Money borrowed, according to collateral: Customer collateral: Exempt securities (under Sec. 3(a) of Securities Exchange Act —1934): U.S. Govt. or agency Other securities Nonexempt securities or mixed collateral Firm or partners' collateral: Exempt securities (under Sec. 3(a) of Securities Exchange Act —1934): U.S. Govt. or agency Other securities Nonexempt securities or mixed collateral Unsecured Value of securities sold under repurchase agreements. Number of firms 299 For note see following page. 149 301 303 306 21. DETAILED DEBIT AND CREDIT BALANCES AND RELATED ITEMS OF MEMBER FIRMS OF THE NEW YORK STOCK EXCHANGE CARRYING MARGIN ACCOUNTS, 1942-63—Continued [In millions of dollars] 1960 1961 1962 1963 June 30 June 30 June 30 June 30 366 422 437 422 96 334 152 530 151 368 181 275 134 22 216 36 169 22 219 25 104 3,081 37 48 4,024 58 31 3,604 74 31 4,916 70 309 374 293 582 243 520 247 694 23 218 22 309 30 303 31 347 5,097 6,694' 5,954 7,460 2,331 2,880 2,305 4,027 806 1,473 1,157 316 817 2,016 1,515 501 525 1,739 1,007 732 815 3,155 1,852 1,303 52 47 41 56 167 352 233 568 211 363 244 289 120 11 174 23 153 17 202 12 1,006 246 1,264 335 1,330 441 1,115 369 25 37 61 129 612 31 47 100 241 797 51 43 76 771 193 90 36 116 759 200 5,097 6,694 5,954 7,460 96 123 1,722 38 108 2,289 23 93 1,833 27 188 3,181 107 99 182 41 104 300 1 24 106 227 19 119 492 24 328 27 336 42 337 44 335 Item DEBIT: BALANCES Cash on hand and in banks Securities— Borrowed . Sold, delivery pending (failed to deliver) Net debit balances due from— Member firms of national securities exchanges: N.Y. Stock Exchange Other exchanges All other customers exclusive of firms' own partners secured by— U.S. Govt. securities Other collateral Net debit balances in partners' individual investment & trading accounts Debit balances in— Firm investment accounts Firm trading & underwriting accounts Commodity margins on deposit with banks & commodity guaranty funds on deposit All other debit balances Total CREDIT BALANCES Money borrowed From banks and trust companies: U.S. agencies of foreign banks U.S. banks In New York City Elsewhere From other lenders (not including members of national securities exchanges) 1 Securities— Loaned Bought, delivery pending (failed to receive) Net credit balances due to member firms of national securities exchanges: N.Y. Stock Exchange Other exchanges Credit balances of other customers exclusive of firms' own partners: Free credit balances Other net credit balances Credit balances & money borrowed which are subordinated to general creditors,under approved agreements Net credit balances in partners' individual investment & trading accounts Credit balances in firm investment & trading accounts All other credit balances (except those included in next item) Net balance in capital, profit & loss, & partners' drawing accounts Total Money borrowed, according to collateral: Customer collateral: Exempt securities (under Sec. 3(a) of Securities Exchange Act—1934): U.S. Govt. or agency Other securities Nonexempt securities or mixed collateral Firm or partners' collateral: Exempt securities (under Sec. 3(a) of Securities Exchange Act—1934): U.S. Govt. or agency Other securities Nonexempt securities or mixed collateral Unsecured Value of securities sold under repurchase agreements Number of firms 2 Includes $48 million of money borrowed secured by U.S. Govt. securities not further classified. 1 Before 1958 probably includes some borrowing from U.S. agencies of foreign banks. 150 22. MONEY BORROWED BY MEMBER FIRMS OF THE NEW YORK STOCK EXCHANGE, 1941-63 [In millions of dollars] Byfirmsnot carrying margin accounts Month Total Byfirmsnot carrying margin accounts B y firms carrying margin accounts On On U. S. On U. S. On Total Govt. other Total Govt. other secu- secusecu- securities rities rities rities Month Total By firms carrying margin accounts On On U. S. On U. S. On Total Govt. other Total Govt. other secu- secusecu- securities rities rities rities 413 403 413 383 453 416 404 513 417 444 436 389 21 34 30 19 54 24 20 56 23 33 29 25 392 369 383 364 399 393 384 457 394 412 407 363 1947_jan.. Feb.. Mar. Apr.. May. June. July. Aug.. Sept. Oct.. Nov.. Dec. 294 291 302 278 310 416 313 335 378 333 313 301 84 74 86 72 109 191 62 95 97 76 66 57 45 30 45 37 79 151 29 67 61 38 27 13 38 43 41 36 30 41 34 28 37 38 40 44 210 217 216 205 201 224 251 241 280 257 247 244 62 56 56 45 51 55 75 83 78 72 72 44 149 161 160 161 150 169 176 157 202 185 175 199 1942—Jan. Feb Mar Apr May June July Aug Sept Oct Nov Dec 325 340 330 335 324 340 346 326 365 357 342 449 19 29 23 34 25 32 38 29 54 51 26 70 305 311 307 301 299 308 308 297 311 306 316 380 1948_Jan.. Feb.. Mar. Apr.. May. June. July. Aug., Sept., Oct.. Nov., Dec. 285 291 272 311 385 397 375 323 306 303 347 421 68 83 43 70 127 113 88 72 67 51 102 158 26 25 12 32 92 74 46 37 39 18 69 117 42 58 31 38 36 39 42 35 28 33 33 40 217 208 229 241 258 284 288 252 238 252 244 264 37 49 56 63 62 66 69 47 33 32 49 53 180 159 173 177 196 218 218 205 205 219 196 210 1943_j a n Feb Mar Apr May June July Aug Sept Oct Nov Dec 331 356 387 621 608 619 596 942 873 718 683 37 35 36 157 75 72 86 107 174 130 114 115 23 142 58 57 49 92 154 108 94 97 13 15 17 15 37 15 20 22 20 19 294 321 351 570 546 536 532 489 768 743 604 567 52 220 139 93 78 67 286 264 176 138 299 350 407 443 454 422 482 479 428 430 1949—Jan.. Feb.. Mar. Apr.. May. June. July. Aug.. 339 313 396 480 495 696 542 538 573 572 580 674 92 88 143 150 140 198 142 134 154 156 135 166 66 59 114 109 100 81 88 64 81 93 63 77 27 29 28 41 41 117 55 70 73 64 72 88 247 225 254 329 355 498 399 404 418 416 445 509 55 52 64 69 64 84 83 81 62 60 52 55 191 173 190 260 290 415 316 323 357 356 393 454 1944—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 731 811 747 697 655 864 787 743 780 813 878 973 167 162 117 97 110 225 124 111 141 145 234 205 140 115 83 63 68 180 89 84 107 100 192 165 28 47 35 34 42 45 35 28 34 44 42 40 563 649 630 600 545 639 663 632 638 668 644 768 143 194 178 165 120 166 188 158 151 149 167 248 420 455 452 435 426 472 475 474 488 519 478 520 1950_jan.. Feb.. Mar., Apr.. May. June. July. Aug.. 637 643 723 806 912 962 936 842 883 884 923 909 145 120 144 187 162 137 182 90 132 125 150 156 56 45 71 88 78 47 102 32 63 63 79 75 88 75 72 99 84 89 80 58 69 62 70 81 493 522 579 619 750 826 755 752 751 759 774 753 38 43 42 38 63 69 121 147 141 133 141 136 455 480 537 581 687 757 634 605 610 626 633 617 1945__Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 913 891 832 874 983 1,183 1,024 947 947 911 963 1,074 181 160 110 173 242 314 200 189 185 168 252 265 142 118 67 132 193 259 144 144 135 106 186 203 39 42 44 41 49 54 56 45 50 62 66 62 732 731 722 701 742 869 824 759 762 743 711 809 206 197 170 162 173 230 213 207 215 217 236 292 526 534 551 539 568 639 611 551 547 526 475 517 1951—Jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. 844 762 864 749 774 747 793 706 727 737 753 850 153 119 150 88 93 81 121 82 87 84 103 155 68 54 25 16 23 21 45 23 20 17 31 59 85 66 125 72 71 60 76 59 68 67 73 95 690 642 715 661 681 666 672 624 640 653 649 695 110 79 36 32 36 35 42 39 40 45 40 36 580 563 678 629 645 631 630 585 600 608 609 659 1946—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 883 809 895 745 732 732 598 509 408 371 398 357 149 165 273 169 185 216 156 132 103 117 160 128 100 126 228 107 133 163 98 85 62 85 134 92 48 39 45 62 52 53 58 47 40 32 26 37 734 645 622 575 547 516 442 377 305 253 238 229 262 244 231 199 191 178 143 119 94 75 72 66 472 401 390 377 356 338 299 258 211 178 166 163 1952—Jan.. Feb.. Mar.. 691 714 808 955 968 1,162 1,463 1,063 1,013 1,019 1,097 1,207 59 62 74 137 120 248 337 137 122 158 220 299 3 5 68 47 169 146 44 25 77 132 175 58 59 69 70 73 79 191 93 97 81 88 125 633 652 734 818 847 914 1,126 926 891 860 877 907 34 38 37 36 34 41 161 60 43 29 31 30 599 614 696 782 813 873 966 866 848 831 847 877 1941_j a n Feb Mar M^iy'.'.'.'.'.'.'.'.'. June July Aug Sept Oct Nov.... Dec in Sept., Oct.. Nov.. Dec. Sept.. Oct.. Nov.. Dec. Sept.. Oct.. Nov.. Dec. For NOTE see p. 153. 151 June. July. Aug.. Sept.. Oct.. Nov.. Dec. 22. MONEY BORROWED BY MEMBER FIRMS OF THE NEW YORK STOCK EXCHANGE, 1941-63 — Continued [In millions of dollar^] By firms not carrying margin accounts Month By firms carrying margin accounts Total On Total On U. S. Govt. securities other securities Total 908 871 966 On 1953—Jan.. Feb.. Mar. Apr., May. June, July. Aug. Sept. Oct.. Nov. Dec. 1,086 1,216 1,302 1362 1,335 1,333 1,228 1 249 1,357 1,461 107 107 120 149 109 145 174 152 158 151 231 299 18 U 10 30 25 54 96 81 65 53 70 146 89 96 110 119 84 90 78 70 94 97 161 154 1954—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 1 263 1,207 1,228 1,237 1 400 1,460 1 399 1,503 1 606 1,631 1,698 1,919 155 145 174 143 214 287 230 310 315 267 281 321 49 28 64 21 81 143 83 142 102 87 102 102 106 117 110 122 133 144 147 168 212 180 179 219 J 108 ,062 ,054 ,094 1955—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 1,904 1,971 2,105 2,223 2,306 2,288 2,354 2,276 2,329 2,453 2,501 2,569 208 192 166 161 187 195 274 211 205 293 241 268 48 33 10 18 28 16 85 38 28 55 31 43 1956—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 2,438 2,438 2,417 2,411 2,442 2,457 2,440 2,273 2,313 2,300 2,271 2,474 236 250 240 222 213 1957—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 1958—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 1,015 979 44 33 29 28 47 50 45 48 41 75 87 88 Total other securities Customer collateral Other collateral 864 838 937 1,040 1 146 1,167 1,116 1,134 1,029 1,024 1,040 1,074 1,018 ,194 ,291 ,364 ,416 ,598 169 90 93 83 85 103 82 70 69 66 69 63 69 160 158 156 143 159 179 189 174 178 238 210 225 ,696 ,779 .939 2^062 2,119 2,093 2,080 2,064 2,124 2,159 2,260 2,301 77 113 78 74 72 73 77 71 68 71 75 51 1,620 1,666 1,861 1,988 2,047 2,020 2,003 1,994 2,056 2,088 2,185 2,250 [,636 1,659 [,681 [,675 1,685 1,705 [,711 [,741 1,816 352 388 339 328 309 351 377 444 434 198 186 201 168 157 296 30 31 25 32 28 27 19 10 43 9 17 104 206 219 215 190 185 195 180 176 158 159 140 192 2,202 2,189 2,177 2,189 2,228 2,234 2,242 2,087 2,113 2,132 2,114 2,178 54 52 50 44 42 39 31 38 42 45 43 46 2,148 2,137 2,127 2,145 2,186 2,195 2,211 2,048 2,071 2,086 2,071 2,132 1,734 1,756 1,742 1,794 1,842 1,853 [,873 1,742 1,777 ,788 ,822 ,852 414 381 385 351 344 342 338 306 294 298 249 280 2,176 2,233 2,169 2,272 2,287 2,394 2,304 2,303 2,289 1,952 1,862 2,185 170 177 164 168 172 239 166 210 181 172 164 354 42 22 13 14 24 68 35 81 33 33 35 111 128 154 151 154 148 170 131 130 147 139 129 243 2,006 2,057 2,005 2,104 2,115 2,156 2,138 2,093 2,108 1,781 1,697 1,831 42 53 47 53 52 52 59 58 63 72 56 125 1,964 2,004 1,958 2,051 2,063 2,104 2,079 2,035 2,046 1,708 1,641 [,706 ,734 1,727 ,729 ,789 1,810 ,872 1,874 ,836 ,800 ,520 1,443 ,494 230 277 229 262 253 232 205 199 246 188 198 212 1,936 2,057 2,216 2,445 2,515 3,079 2,741 2,224 2,226 2,218 2,417 2,695 196 211 226 394 462 681 532 223 151 193 284 390 83 62 70 220 298 491 383 91 44 92 173 272 114 148 157 174 164 190 149 132 107 101 111 118 1,740 1,846 1,990 2,051 2,053 2,398 2,208 2,002 2,075 2,025 2,133 2,306 188 199 206 230 244 468 306 251 210 193 210 234 1,552 [,647 1,784 1,822 1,809 1,930 ,903 ,751 ,865 ,832 1,923 2,071 ,344 ,392 ,465 ,443 ,495 ,591 ,594 ,523 1,628 1,612 1,677 1,797 208 255 319 379 314 339 309 228 237 220 246 274 222 For NOTE see opposite page. 1,068 1,193 1,218 1,161 1,182 1,070 1 098 1,126 1,162 On U. S. Govt. securities 152 186 ,174 969 971 1,009 1,082 1,092 1,099 1,125 1,225 1,295 U53 1.529 22. MONEY BORROWED BY MEMBER FIRMS OF THE NEW YORK STOCK EXCHANGE, 1941-63 — Continued [In millions of dollars] By firms not carrying margin accounts Month By firms carrying margin accounts Total On other securities Total On U. S. Govt. securities On other securities Total On U. S. Govt. securities Total 1959—Jan Feb Mar Customer collateral Other collateral 2,570 2,478 2,511 2,888 2,872 2,822 2,842 2,802 2,682 2,812 2,925 2,982 350 292 316 480 461 339 409 386 302 407 432 399 235 189 198 304 291 236 298 271 196 297 292 232 114 102 118 176 170 104 111 115 106 110 140 167 2,221 2,186 2,195 2,408 2,411 2,483 2,433 2,416 2,380 2,405 2,493 2,583 230 223 218 252 252 237 228 217 231 227 236 221 1,990 1,963 1,977 2,156 2,159 2,246 2,205 2,199 2,149 2,178 2,256 2,362 1.741 1,722 1,723 1,852 1,857 1,970 1,949 1,945 1,906 1,923 1,999 2,044 249 241 254 304 302 276 256 254 243 255 257 318 I960—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 2,720 2,917 2,758 2,923 2,896 2,880 2,880 2,951 3,009 3,006 2,990 3,159 297 521 538 583 573 608 651 715 689 706 722 884 174 377 378 414 414 433 490 547 507 533 530 683 123 144 160 169 159 175 161 168 182 173 192 202 2,423 2,396 2,220 2,340 2,322 2,272 2,229 2,236 2,320 2,300 2,268 2,275 190 202 161 185 208 162 187 173 177 161 139 142 2,233 2,194 2,059 2,155 2,115 2,110 2,042 2,063 2,143 2,139 2,129 2,133 1,995 1,945 1,821 ,883 ,820 ,832 1,801 1,820 ,871 ,849 1,815 1,806 238 249 238 272 295 278 241 243 272 290 314 327 1961—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 2,739 2,853 2,617 2,945 3,104 3,356 3,510 3,238 3,361 3,424 3,566 3,739 702 854 620 593 517 541 712 503 632 713 763 736 569 712 491 466 367 374 572 385 485 586 621 570 132 142 129 127 151 167 140 119 147 127 142 167 2,038 1,999 1,997 2,351 2,587 2,815 2,798 2,734 2,730 2,710 2,803 3,003 101 94 70 67 58 67 69 56 64 56 51 48 1,937 1,905 1,927 2,284 2,529 2,748 2,728 2,679 2,666 2,654 2,752 2,954 1,677 1,615 1,624 ,947 2,180 2,363 2,393 2,363 2,388 2,360 2,434 2,572 260 290 303 337 349 385 335 316 278 294 318 382 1962—Jan Feb Mar May June July Aug Sept Oct Nov Dec 3,331 3,378 3,740 3,682 3,347 2,807 2,431 3,143 3,688 3,505 3,488 3,847 421 496 776 610 458 567 307 637 950 880 902 1,027 296 368 632 453 340 436 225 557 858 737 782 808 125 128 144 157 118 131 82 80 92 143 120 219 2,911 2,882 2,963 3,072 2,889 2,239 2,124 2,506 2,738 2,625 2,586 2,820 51 71 52 .57 44 46 32 35 49 29 28 35 2,860 2,812 2,912 3,015 2,845 2,194 2,091 2,472 2,689 2,596 2,558 2,785 2,517 2,480 2,566 2,666 2,499 1,897 1,856 2,190 2,381 2,271 2,269 2,434 343 332 346 349 346 297 235 282 308 325 289 351 1963—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 3,616 4,034 4,118 4,221 4,456 4,905 4,613 4,721 4,993 4,860 5,071 5,095 689 941 927 949 768 952 746 765 824 609 586 614 559 808 733 826 514 643 586 631 680 469 418 347 131 133 194 123 254 309 159 134 144 141 168 267 2,927 3,094 3,192 3,272 3,688 3,953 3,867 3,956 4,169 4,251 4,485 4,481 32 35 63 33 33 44 29 23 69 33 28 32 2,895 3,059 3,129 3,239 3,655 3,909 3,836 3,933 4,100 4,218 4,457 4,449 2,556 2,695 2,754 2,889 3,150 3,333 3,359 3,467 3,592 3,713 3.892 ,852 339 364 375 350 505 576 477 466 508 505 565 597 MPay!!!!! June July Aug Sept Oct Nov Dec NOTE.—End-of-month data through May 1955; last Wednesday of month thereafter. 153 23. NEW SECURITY ISSUES A. BY ALL ISSUERS, 1934-63 [In millions of dollars] Proposed use of net proceeds all corporate issues Gross proceeds, all issues Noncorporate Corporate Period Total U. S. Govt. U. S. Govt. agency U. S. State and local Bonds Other Total Total New capital Stocks PriPublicly vately Preoffered placed ferred Total Total Common New Other money purposes 1934 4,910 3,535 32 939 1935 1936 1937 1938 1939 6,683 9,982 5,328 5,926 5,687 2,938 4,088 1,9(T 2,480 2,33f 116 55 36 115 13 1,232 1,121 908 1,108 1,128 66 14' 17: 69 50 2,332 4,57' 2,310 2,155 2,164 2,225 4,02^ 1,618 2,044 1,980 1,840 3,660 1,291 1,353 1,276 385 36! 32' 691 703 86 271 406 86 98 22 272 285 25 87 2,266 4,431 2,239 2,110 2,115 401 1,062 1,138 904 420 208 858 991 681 32 1940 1941 1942 1943 1944 6,564 15,157 35,438 44,518 56,310 2,517 11,466 33,846 42,815 52,424 109 38 1,238 956 524 435 661 24 30 2,677 2,66^ 1,062 1,170 3,202 2,386 2,390 91" 990 2,669 1,628 1,578 506 621 1,89: 758 811 411 369 778 183 16' 108 110 34 56 163 2,615 2,623 1,043 1,147 3,14f 761 1,041 646 408 753 1945 1946 1947 1948 1949 54,712 18,685 19,941 20,250 21,110 47,353 506 357 6,011 6,900 6,57^ 7,078 6,05f 4,855 4,882 5,036 5,973 4,89 3,851 3,01" 2,889 2,965 2,437 1,004 1,863 2,147 3,008 2,453 397 9' X 47 56 451 156 13: 37 280 19 n: 38- Retirement of securities 231 152 1,865 3,368 1,100 1,206 1,695 569 868 474 308 657 193 204 148 22: 95 192 17: 173 100 96 1,854 1,583 396 739 2,389 216 1950 1951 1952 1953 1954 19,893 21,265 27,209 28,824 29,765 10,58! 10,32' 11,804 9,68 9,778 12,577 13,957 12,532 795 1,15' 2,324 2,690 2,907 30 110 459 106 458 3,53: 3,189 4,401 5,558 6,969 282 446 237 306 289 6,361 7,741 9,534 8,898 9,516 4,920 5,691 7,60 7,083 7,488 2,360 2,364 3,645 3,856 4,003 2,560 3,326 3,957 3,228 3,484 124 369 758 1,12' 76: 49: 425 631 838 564 489 816 1955 1956 1957 1958 1959 26,772 9,628 22,405 5,517 30,571 9,601 34,443 12,063 31,074 12,322 746 169 572 2,321 707 5,977 5,446 6,958 7,449 7,681 182 334 557 [,052 616 10,240 10,939 12,884 11,558 9,748 7,420 8,002 9,957 9,653 7,190 4,119 4,225 6,118 6,332 3,557 3,301 3,777 3,839 3,320 3,632 635 636 411 571 531 2,185 2,301 2,516 1,334 2,027 10,049 8,821 7,957 10,749 10,384 9,663 12,661 12,447 11,784 11,372 10,823 9,907 9,527 9,39f 8,578 864 721 663 915 814 1,227 364 214 549 135 1960 1961 1962 1963 27,541 7,906 35,527 12,253 29,956 8,590 31,616 7,213 1,67: 7,230 1,448 8,360 1,188 8,558 1,168 10,107 579 303 915 891 10,154 8,081 13,165 9,420 10,705 8,969 12,237 10,872 4,806 4,700 4,440 4,714 3,275 4,720 4,529 6,158 409 450 422 342 1,664 9,924 9,653 8,758 3,294 12,885 12,01 10,715 1,314 10,501 9,747 8,240 1,022 12,081 10,553 8,993 895 1,302 1,507 1,561 271 868 754 1,528 io,2r 1934_Jan.. Feb. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 600 913 105 115 152 1,062 182 267 54 74 228 1,157 1935_Jan.. Feb. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 151 102 266 319 277 476 1,407 521 1,015 378 395 1,377 43 213 785 223 617 27 14 991 1936—Jan.. Feb., Mar. Apr.. May. June. Tuly. Aug., Sept. Oct.. Nov. Dec.. 466 314 2,067 858 406 1,857 387 344 912 496 350 1,523 31 63 1,401 30 37 1,134 25 28 506 26 25 781 528 847 3 '864 32 228 7 72 986 5 18 56 17 55 65 98 106 80 115 95 28 41 43 92 122 7 5 72 51 87 12 13 24 59 49 98 53 150 156 78 65 92 66 149 77 114 134 90 98 129 85 105 111 42 57 159 83 65 97 64 1 397 891 779 614 736 5,902 6,75^ 6,466 6,959 5,959 1,347 3,889 5,114 6,652 5,558 1,080 3,279 4,591 5,929 4,606 267 610 524 722 952 4,555 2,868 1,352 307 401 811 1,212 1,369 1,326 1,213 6,261 7,607 9,380 8,755 9,365 4,990 7,120 8,716 8,495 7,490 4,006 6,531 8,180 7,960 6,780 984 589 537 535 709 1,271 486 664 260 1,875 3 1 1 16 1 6 4 71 49 85 1 13 24 58 46 48 31 115 130 156 171 530 168 248 273 266 196 69 50 8 11 11 24 59 46 4' 30 115 121 154 171 501 161 243 256 262 163 14 47 31 112 126 151 167 515 161 242 266 258 190 309 147 516 700 259 597 316 258 241 380 237 612 304 122 488 644 223 545 267 222 211 308 217 477 2 6 13 22 21 22 6 14 20 25 7 115 295 142 502 679 252 581 307 252 234 365 229 594 154 12 4 1 6 2 10 2 34 8 6 2: 21 38 34 2 1 26 36 15 34 43 35 67 35 72 6 2 2 1 3 2 3 2 15 19 3 61 47 52 4 6 2 36 16 2 1 19 18 14 30 18 26 11 23 30 13 28 111 100 115 153 481 118 207 198 223 118 63 17 58 98 21 153 49 150 72 100 98 184 49 9 33 72 20 97 36 126 69 86 88 173 232 125 444 580 231 428 258 102 162 266 131 410 23. NEW SECURITY ISSUES — Continued A. BY ALL ISSUERS, 1934-63 — Continued [In millions of dollars] Proposed use of net proceeds, all corporate issues Gross proceeds, all issues Noncorporate Corporate Month Total 1937—Jan... Feb.. Mar.. U. S. Govt. U. S. Govt. agency U.S. State and local New capital Stocks Other Total Bonds Preferred 40 153 11 73 48 273 181 290 199 375 82 318 46 151 14 73 63 279 177 287 204 371 106 337 44 46 13 11 38 191 137 99 123 88 36 78 44 37 11 8 27 151 123 61 117 24 24 55 21 163 109 227 46 364 198 383 107 199 84 263 19 118 94 193 39 355 176 371 104 190 71 249 20 159 104 222 45 358 193 375 106 196 81 256 6 27 59 80 19 25 49 36 11 47 26 36 4 16 51 75 j 18 19' 29 29 6 29 17 32 14 132 46 141 26 333 143 339 96 150 55 220 86 172 84 76 50 84 81 76 73 177 78 203 154 265 101 312 113 144 263 173 108 373 95 575 131 252 66 252 93 136 256i 149 102 345 71 534 149 •259 97 305 109 141 257 169 106 366 92 565 38 55 30 117 30 27 60 66 49 49 39 200 18 20 24! 47! 23; 20 551 48 43 45 33 193 18 5 4 7 7 111 204 67 188 79 114 197 103 57 316 53 364 64 65 180 102 113 85 54 268 209 262 184 269 250 122 417 182 204 155 144 260 201 225 169 247 234 86 411 164 146 135 110 263 206 258 181 262 246 119 413 180 201 152 142 55 71 86 50 74 104 63 204 31 110 114 80 48 53 68 42 67 87 51 185 27 91 92 57 8 18 17 7 6 17 12 19 3 19 22 23 207 135 172 132 189 142 56 210 150 92 37 62 171 56 125 135 124 152 61 43 82 46 35 34 114 37 109 128 112 136 61 167 54 123 132 123 149 60 42 80 45 34 33 83 30 78 111 109 88 29 38 54 4 6 16 74 17 62 75 57 75 20 38 31 4 5 16 10 13 16 36 52 13 8 84 24 45 21 14 61 31 4 25 41 28 17 99 47 47 38 239 33 252 36 837 38 35 778 48 65 110 50 93 147 47 66 74 105 158 144 48 154 15 74 65 284 181 293 209 381 108 343 38: 595 29 361 208 763 601 55: 179 578 22 950 256 377 64 56 60 114 318 71 44 323 54 594 104 54 119 76 102 273 83 70 24 54 80 90 1940—Jan... Feb... Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 508 580 291 522 255 275 1,347 298 225 600 275 1,389 267 141 102 118 61 45 986 49 43 49 46 607 1941_Jan... Feb... Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 1,149 403 1,101 990 1,415 651 1,091 1,763 773 2,359 784 2,678 814 116 653 702 1,032 315 916 1,303 538 2,053 553 2,473 1942—Jan... Feb... Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec.. 1,591 2,404 967 979 3,305 1,225 3,496 2,426 3,528 5,945 1,568 8,004 1,298 2,307 793 785 3,149 1,041 3,387 2,336 3,422 5,861 1,516 7,950 M*ay! June. July.. Aug.. Sept.. Oct... Nov.. Dec. 195 268 196 164 427 465 483 396 1,121 534 35 1,321 1939—Jan... Feb... Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 1938—Jan... Feb... Mar.. 27 13 11 9 1 17 41 2 6 18 60 107 85 115 62 189 112 39 104 53 26 38 14 109 23 41 23 23 15 15 11 1 3 7 175 212 244 117 139 289 123 62 91 112 24 35 ay! June. July.. Aug.. Sept.. Oct... Nov.. Dec. Other New purmoney poses 87 120 96 124 63 206 152 41 110 71 26 41 262 352 298 174 186 389 201 81 155 132 28 52 36 59 162 33 26 881 38 31 27 28 28 553 Total 255 343 288 165 180 378 196 78 150 128 27 50 207 43 59 84 51 112 84 53 48 33 47 86 578 523 525 311 268 1,383 323 168 231 198 128 691 Total Common Retirement of securities 25 35 11 64 74 60 120 41 49 60 31 32 47 47 23 38 17 18 155 431 681 43 35 34 4 4 4 I 12 20 2 5 54 8 13 40 19 16 4 10 9 17 11 3 3 2 3 7 168 222 192 42 116 172 43 37 40 57 2 106 62 25 88 41 189 81 283 70 259 24 1 23. NEW SECURITY ISSUES — Continued A. BY ALL ISSUERS, 1934-63 — Continued [In millions of dollars] Proposed use of net proceeds, a l corporate issues l Gross proceeds,all issues Corporate Noncorporate N e w capital ReMonth Stocks U. S. U.S. Govt. I943_jan Feb Mar.. Apr May June July Aug Sept Oct Nov Dec 1,844 1,693 1,451 1,344 1,538 1,391 11,562 11,425 1,949 1,817 4,178 4 051 1,443 1,304 1,153 1 015 12,652 12,562 3,958 3,795 1,364 1,128 1,424 1,290 1944—jan 3,143 2 915 9,540 9,399 1,192 947 1,231 1,038 1,234 896 14,065 13 854 3,036 2,791 1,088 804 1,455 974 1 726 876 2,556 2,105 16,044 15,828 Feb Mar Oct Nov Dec 1945 Jan Feb Mar Apr May June July Aug Sept. Oct Nov.. Dec 1947—Jan Feb.. Mar Apr May. June July. Aug Sept . Oct Nov., Dec 1948 Jan Feb.. .... ... 1,465 1 573 7 074 Apr . May June. July Aug.... Sept Oct I 397 1,218 I 721 >,541 I 216 1,736 1,879 426 2,004 Nov Total Bonds Preferred Common 11 50 81 111 80 65 75 90 21 17 37 4 70 142 199 65 108 149 17 1 116 105 5 170 95 70 91 1 59 8 4 1 8 12 12 27 43 14 2 8 7 7 6 « 4 6 19 10 10 21 8 10 11 14 46 105 37 5 6 10 1 15 1 1 4 25 c New money 11 49 11 50 121 15 174 49 37 50 66 45 47 67 1,732 1,429 1,686 .641 1,280 2,091 1 785 1,134 1,373 2,428 1 234 2,128 Total 96 115 95 76 90 110 25 17 160 31 36 65 18 108 71 34 1.565 1,279 1,317 2,003 1,812 1,571 1,942 1,415 1,120 1,307 1,312 2,044 Total Other 50 23 36 51 49 28 49 57 1 1 Mar Dec State and local 1,824 1,332 114 1,346 1,060 1 521 1 122 1,945 1,245 3,210 2,637 18,253 18,083 2,806 1,602 ""Hi 845 1,355 1,465 606 2,136 961 4 403 4 210 14,447 13,650 215 Apr May. June July. Aug Sept 1946—Jan Feb Mar. Apr May. June July. Aug.. . Sept. Oct Nov.. Dec U. S. Govt. agency Total 96 5 214 170 169 180 210 219 463 742 380 182 176 55 144 167 169 199 399 692 346 133 32 96 15 3 20 12 54 39 20 3 256 255 224 651 537 119 961 465 808 1,082 204 241 172 567 420 112 651 395 695 909 36 3 41 43 99 1 221 61 78 109 17 11 12 41 18 6 90 9 34 64 15 94 112 93 74 88 108 49 16 44 19 25 25 4 12 69 139 197 18 34 125 113 32 20 166 52 48 Other purposes 1 42 14 41 16 16 10 119 22 9 tirement of securities 6 34 45 97 49 55 63 83 6 24 51 105 71 114 81 103 65 53 4 12 210 165 166 177 206 215 453 729 373 178 60 65 44 50 74 64 38 135 35 69 53 61 37 27 63 61 29 125 33 66 7 A 7 23 11 3 9 10 1 2 150 100 122 127 131 151 415 594 338 109 251 252 220 639 525 118 943 459 793 1 062 37 41 59 114 170 22 214 157 111 209 36 33 49 95 151 17 197 100 99 156 1 8 10 19 19 5 17 57 12 53 214 211 161 525 355 96 730 37 302 682 853 41 152 104 24 24 148 60 25 35 88 82 500 387 43 71 491 153 121 32 338 • 102 1,261 803 71 80 233 396 54 337 111 26 225 390 123 79 108 60 15 19 805 967 793 755 83 71 150 124 429 748 869 692 291 489 664 405 76 155 144 134 62 104 61 153 417 731 850 672 126 335 205 340 107 228 159 258 19 107 46 82 310 291 396 645 332 529 368 213 342 449 742 97 34 54 27 125 142 129 148 21 44 47 20 738 542 282 407 610 894 427 425 185 355 531 758 345 357 151 285 510 711 82 69 33 70 21 47 310 116 97 52 79 136 122 31 217 132 66 88 50 71 170 68 33 33 756 550 288 413 621 905 921 226 99 122 336 287 264 171 15 49 57 66 331 282 209 250 192 219 17 32 891 746 344 404 1 16 450 474 385 314 38 78 27 82 442 466 320 376 296 268 24 108 122 89 653 110 20 497 357 112 28 488 250 207 42 238 1,051 790 614 637 1,673 38 250 785 609 332 458 636 542 1,170 644 422 305 365 426 392 991 113 111 17 66 61 31 72 28 77 10 27 150 119 107 773 596 328 450 627 528 1,155 567 484 218 295 591 452 1,102 524 443 183 258 549 425 1,026 43 41 35 37 42 26 76 207 112 110 155 854 217 136 188 278 118 103 101 913 718 708 597 574 680 1,813 526 1,128 825 763 1,080 116 220 633 157 190 286 120 287 122 279 152 129 435 635 733 643 453 755 608 252 486 775 507 795 381 414 685 532 360 595 559 178 413 688 455 712 26 50 27 52 67 116 14 40 12 52 21 14 28 171 21 59 26 45 35 34 61 35 31 68 429 616 724 632 443 742 598 246 477 767 501 783 416 593 634 566 441 698 588 244 461 743 493 773 367 549 595 493 378 622 424 232 400 718 463 689 49 45 40 74 63 76 164 12 61 25 30 84 13 23 90 66 1,053 778 742 703 619 936 1 170 589 140 20 1 1 1 1 150 4 I 156 36 76 53 2 44 10 2 16 24 8 10 23. NEW SECURITY ISSUES — Continued A. BY ALL ISSUERS, 1934-63 — Continued [In millions of dollars] Proposed use of net proceeds all corporate issues Gross proceeds, all issues N e w capital Corporate Noncorporate Month Stocks Bonds U. S. U. S. Total U. S. Govt. Govt. 1949 Jan Feb Mar Apr May June July AUK Sept Oct Nov Dec 1950 j a n Feb Mar Apr May June July Aug Sept Oct Nov Dec 1951 Jan Feb Mar Apr May June July Aug. . Sept Oct Nov Dec 1952 Jan Feb Mar Apr May June July 1,428 1,352 1,469 1,645 1,558 2,701 2,385 2 105 1,700 1,633 1,293 1,842 870 763 792 717 759 1 099 1,606 1 608 894 978 707 1 011 2,099 1,606 1,821 1,357 1,657 2,305 1,236 1 569 1,239 1,947 1,454 1 602 1,118 810 886 633 689 882 706 773 531 1,228 655 111 1,281 1,131 1 759 1,490 1 747 1.985 ,694 . . ,351 ,619 ,789 730 502 520 451 581 2 830 834 656 765 651 638 ,780 ?33 ,748 670 2,334 2,537 2 450 6,455 1 179 Sept U77 Oct Nov Dec 2,014 1 119 2,093 1953 Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 1954 Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 1,774 1,547 1 635 1,676 4,613 3,066 1 928 1,453 2 599 2,291 3,506 2,736 1,657 1,375 1,948 1,958 4,388 2,422 2,167 1,279 2,125 6,544 1 350 2,552 agency State and local Total Other Total Total PriPublicly vately offered placed Total Preferred 134 60 74 46 46 35 61 44 122 348 377 438 719 422 1 213 507 197 229 347 310 452 321 275 374 552 347 1 087 461 164 163 260 270 331 28 102 64 166 74 126 45 33 65 86 40 121 7 2 37 7 22 58 19 18 39 61 17 113 70 12 29 62 71 93 30 36 30 106 48 43 44 47 66 136 75 160 47 18 48 88 23 59 606 221 498 537 636 1,049 318 427 399 514 406 649 556 185 368 438 417 738 297 285 368 429 343 565 454 153 334 363 269 618 214 257 300 306 306 433 103 33 33 74 148 120 83 29 68 123 37 133 49 35 130 99 220 311 21 142 31 85 64 84 306 344 824 507 553 34 9 54 95 26 34 36 143 197 90 369 384 1 006 783 661 341 348 926 710 624 637 72 152 847 784 35 28 78 91 37 28 35 79 74 37 861 306 320 848 619 587 70 63 531 508 390 655 360 376 324 422 39 77 35 127 132 55 31 106 521 500 381 639 491 476 363 627 469 436 343 548 22 40 20 79 8 12 30 24 18 12 673 871 403 636 166 104 105 132 660 856 618 811 570 771 47 40 43 45 634 505 278 227 82 47 624 615 602 304 151 456 406 637 245 212 474 309 31 19 21 54 3 8 2 4 66 447 985 907 1,149 831 1,304 421 455 1,109 282 764 712 898 635 1,113 342 372 932 59 419 398 544 211 786 125 159 400 223 344 314 354 425 327 217 213 533 10 60 59 85 84 33 29 37 6 154 161 137 166 112 158 49 46 170 438 967 891 1,129 818 1,285 413 447 1,092 413 951 870 990 769 1,237 291 390 999 402 922 786 947 735 1,218 276 367 850 11 28 83 43 34 19 14 23 150 24 17 21 139 49 48 123 57 93 230 403 25 4 384 908 314 731 126 140 188 591 20 58 49 119 378 897 340 851 293 780 47 70 38 46 392 363 433 349 86 3 3 21 655 688 696 815 489 517 517 656 186 307 155 375 303 210 362 280 49 48 62 35 117 123 116 125 646 676 684 802 623 623 666 779 584 586 628 748 39 36 38 32 22 54 17 23 650 443 522 5 3 2 714 1,166 520 468 977 407 287 575 106 181 402 301 82 33 31 164 156 82 697 1,147 510 675 1,123 483 591 1,034 459 85 89 24 22 24 27 76 260 476 483 411 111 4 36 60 27 57 336 768 603 459 263 676 375 353 110 449 153 95 270 691 550 406 1,057 65 48 210 69 51 325 753 577 429 1,385 7 44 18 37 43 330 757 590 451 1,478 153 226 222 258 327 1,464 1,438 1 413 55 62 28 23 25 5 4 12 22 26 123 1 64 71 80 399 414 570 735 783 855 280 300 5 4 3 8 573 444 712 639 851 1,085 424 352 285 178 226 216 422 343 714 166 178 178 273 203 227 449 371 186 20 27 68 109 129 131 76 45 90 62 145 111 73 118 92 27 564 437 698 627 837 1,041 1,253 463 355 499 419 649 792 417 547 426 635 497 656 842 909 335 516 392 553 483 596 789 828 304 31 34 82 14 60 53 81 31 17 11 63 130 181 183 329 82 652 615 2 3 1,008 1,130 886 813 581 470 305 343 62 265 994 1,112 747 1,003 705 856 42 146 247 109 459 906 4 71 422 321 854 116 288 205 566 60 52 64 103 413 290 604 244 515 46 89 123 400 1 102 1 4 2 2 289 369 402 553 311 1 154 474 152 210 308 251 416 11 5 41 50 82 57 13 22 27 44 36 36 235 556 366 176 319 359 205 299 279 189 384 166 101 15 62 1 2 1 2 65 22 4 4 2 615 225 507 547 647 1,063 322 432 408 526 412 656 501 166 413 350 502 809 245 378 329 332 341 554 173 185 168 234 412 3 55 49 8 84 374 389 1 021 798 670 283 12 321 152 269 397 8 35 156 16 655 601 302 296 1,024 967 515 722 928 978 4,898 544 444 531 575 611 494 503 491 216 30 40 70 228 231 30 3,244 1,454 884 853 1 320 1,070 2,610 423 561 515 602 511 12,669 523 508 546 123 464 4,611 i84 466 557 65 8 42 Other purposes 355 379 476 726 444 1,271 526 215 268 407 327 565 365 383 484 736 453 1,286 533 220 272 413 332 574 480 547 New money Common Retirement of securities 193 204 175 190 346 316 245 175 318 238 251 255 2 17 2 1,019 157 37 62 1,025 1,237 1,004 714 n 9 23. NEW SECURITY ISSUES — Continued A. BY ALL ISSUERS, 1934-63 — Continued [In millions of dollars] Proposed use of net proceed all corporate issues Gross proceeds, all issues Noncorporate Total U. S. Govt. 1955—Jan.. . Feb.. Mar.. Apr.. May. June. July. . Aug.. Sept.. Oct.. Nov.. Dec. 2,710 1,390 2,560 1,643 4,382 1,91" 2,504 1,638 1,627 2,646 1,840 1,913 742 602 614 535 3,020 496 1,265 509 481 461 438 466 1956—Jan.. . Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct.. . Nov.. Dec. 1,70: 2,001 1,81" 1,877 2,123 2,164 l,97f 1,493 1,581 l,89f 1,829 1,955 645 544 518 453 451 437 484 436 355 414 389 390 1957—Jan.. . Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct.. . Nov.. Dec. 2,426 2,116 3,223 2,371 1,777 2,349 1,982 1,944 3,975 2,705 3,022 2,681 496 386 1,327 390 394 362 400 392 2,262 894 1,374 925 1958—Jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. 3,484 2,490 3,951 6,961 2,155 3,048 2,426 1,341 2,160 3,076 1,452 1,899 511 407 1,802 4,269 368 1,411 418 369 352 1,461 324 370 1959—Jan.. Feb.. Mar.. Apr.. May. June. July. . Aug.. Sept.. Oct.. Nov.. Dec. 5,753 2,123 1,928 4,504 1,782 2,290 1,452 1,710 1,748 4,121 1,722 1,942 3,971 420 443 2,583 338 323 350 309 300 2,574 332 380 I960—Jan.. . Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct.. . Nov.. Dec. 1,952 2,123 2,073 4,573 1,939 2,502 1,637 3,187 1,808 1,814 1,986 1,947 420 435 391 2,860 368 350 353 1,371 338 3451 326 348! Bonds u. s. i u. s. Govt. | State agen- | and cy local 716 30 60 109 72 125 "60 215 'ioo [,163 251 523 "i64| '220! 199 # i75 98 150 86 182 150 150 148 354 199! 160 149 181 Other Total Total Stocks PubPrilicly vately Preoffered placed ferred Total Total Common New Other money purposes 676 460 1,395 664 981 768 753 870 736 1,250 708 980 541 328 540 429 350 651 470 259 407 926 661 415 407 709 401 391 491 736 379 213 336 646 311 427 New capital Corporate Month 38 58 1 98 3 40 "58 5 23 486 327 848 463 675 504 589 655 560 1,046 431 835 252 124 517 297 465 186 136 491 301 858 155 336 234 202 331 166 210 319 453 163 259 188 275 499 53 23 35 54 96 58 53 15 82 43 85 39 136 110 512 147 210 206 111 200 94 161 193 107 663 451 1,371 648 960 751 739 853 722 1,234 694 964 535 407 1,223 478 886 687 597 644 670 1,162 632 900 468 345 1,175 429 774 611 526 614 559 1,074 590 793 67 62 48 50 112 76 70 30 111 88 42 108 613 748 889 916 1,180 893 1,106 693 890 773 ,123 ,114 522 480 704 673 977 661 901 551 681 485 451 915 141 149 393 340 686 270 588 250 514 315 179 401 381 331 311 333 291 391 313 302 167 170 272 514 19 128 43 31 65 50 16 50 33 139 45 16 71 140 141 212 139 182 189 92 176 150 627 183 601 734 874 898 1,160 876 1,089 679 873 756 1,110 1,098 573 712 817 818 1,146 841 1,063 654 838 745 1,089 1,088 486 672 789 702 1,105 782 1,003 550 816 660 1,048 1,049 87 40 28 116 41 59 60 104 23 84 41 39 142 332 279 264 85 416 231 76 97 101 150 343 1,068 1,085 1,340 947 780 1,467 1,011 932 1,007 1,099 828 1,097 1,060 1,065 1,320 931 765 1,453 1,003 924 973 1,090 789 1,076 1,023 913 1,244 871 703 1,373 941 916 952 1,060 764 1,023 36 153 76 59 62 79 61 8 21 30 25 53 44 187 58 90 85 41 219 71 55 170 110 204) 816 858 1,599 1,211 692 946 1,176 564 1,121 873 533 983 728 857 1,553 1,140 597 887 1,107 540 1,114 862 518 920 714 844 1,508 1,036 527 718 1,029 489 1,017 744 460 820 15 13 45 104 69 169 77 50 97 118 58 100 685 569 503 763 539 388 516 595 437 683 639 640 84 53 32 127 49 44 38 10 37 15 65 ,088 ,108 ,361 966 796 1,495 1,028 947 1,023 1,113 844 1,114 912 750 1,044 655 685 1,013 775 840 907 944 671 761 641 514 644 385 438 633 459 540 587 608 485 185 271 237 400 270 247 380 316 299 320 336 186 576 782 899 524 798 877 554 631 389 647 439 459 448 201 56 10 142 203 123 14 9 23 65 127 80 827 877 1,615 1,230 707 961 1,199 575 1,137 890 542 1,000 754 604 1,488 1,099 586 843 910 492 1,059 651 420 746 505 398 1,164 921 391 370 735 209 851 287 236 266 249 206 324 178 195 473 175 283 208 365 184 480 34 26 39 47 25 66 21 31 19 68 24| H ! 28 85 69 41 36 77 70 12 23 69 12 51 639 881 637 940 569 995 457 523 520 587 458 476 86 62 10 60 56 47 93 5 43 39 41 75 858 760 664 921 819 925 552 774 735 922 891 926 695 465 461 613 614 627 433 642 590 644 657 747 404 187 195 310 380 270 173 414 220 331 396 277 291 278 266 303 235 357 260 228 370 313 261 470J 36 58 48 92 38 43 26 13 24 47 61 45 126j 237 155 217 167 255 93 119 121 230 173 134 841 744 648 901 799 903 538 758 720 898 871 907 821 738 646 894 785 887 535 740 703 879 864 900 757 591 551 833 756 825 463 699 6561 801 8031 844! 64 147 95 61 29 63 73 41 48 78 61 56 13 181 75 43 53! 49 1,124 32; 777 996 747 41! 38 928 1,009 34 895 515 547 668 580 406 859 651 821 619 778 875 764 324 253 357 348 186 540 415 592 329 621 518 323 190 294 311 232 220 319 236 229 289| 157 357 441 26 31 44 32 44 34 21 34 37 45 16 45 100 158 177 194 1581 231 106 141 91 105 118 86 626 719 869 783 590 1,092 760 976 731 910 988 879 570 715 860 761 577 1,044 736 966 726 890 956 852 548 661 762 675 514 992 657 895 671 830 805 749 22 53 98 86 63 52 79 71 55 60 152 103 696 622 568 717 556 978 475 607 682 343 496 490 158 Retirement of securities 23. NEW SECURITY ISSUES — Continued A. BY ALL ISSUERS, 1934-63 — Continued [In millions of dollars] Proposed use of net proceeds all corporate issues Gross proceeds, all issues Corporate Noncorporate New capital Month Bonds Total U.S. Govt. 1961—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 1,770 5,447 2,134 3,417 4,430 3,488 1,918 2,073 1,893 4,423 2,421 2,115 455 4,069 434 348 2,244 369 342 392 338 2,564 357 341 1962—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 3,462 2,535 1,914 4,115 2,161 2,448 1,651 4,080 1,550 2,133 1,808 2,101 1,589 361 372 1,506 352 363 358 2,408 300 359 327 295 1963—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec. 2,708 2,166 2,830 2,927 2,783 5,054 2,089 1,980 1,673 2,977 2,117 2,312 774 - 425 396 716 409 2,252 413 398 347 394 333 357 U.S. Govt. agency 252 100 149 278 250 193 *225 246 156 461 150 175 148 186 459 174 200 U.S. State and local Stocks Total Other Total Total Publicly offered Privately placed Total Preferred New money Common Other purposes Retirement of securities 706 660 756 710 625 1,035 463 603 699 643 789 669 9 31 23 4 72 33 19 3 6 49 45 8 600 687 669 2,256 1,339 1,773 1,093 824 658 1,166 1,004 1,096 474 521 513 1,083 1,021 1,477 829 648 434 855 777 787 178 273 211 713 663 924 424 221 123 336 415 217 296 247 302 371 357 553 405 428 311 519 362 570 30 37 28 59 92 40 20 45 17 12 42 27 96 129 128 1,114 226 256 244 130 1 206 299 185 282 589 673 651 2,226 1,311 1,737 1,067 803 638 1,139 977 1,073 579 660 528 2,142 1,256 1,316 1,050 776 631 1,101 964 1,012 537 601 454 2,072 1,037 1,137 864 655 589 960 898 911 42 59 74 70 219 179 186 122 42 141 66 101 9 13 123 84 55 420 17 27 7 38 13 61 866 1,123 621 877 897 760 641 559 426 646 595 547 159 10 62 14 99 78 34 17 45 169 115 114 603 884 859 1,257 812 1,247 618 945 603 959 771 1,145 468 727 643 919 676 1,079 555 864 440 842 723 1,032 233 497 385 654 248 484 200 477 175 539 286 263 235 230 258 266 429 595 355 387 264 303 437 770 2 10 5 116 15 45 32 24 51 49 21 52 133 146 211 222 121 122 31 57 112 68 27 61 588 866 834 1,225 796 1,230 609 930 589 943 761 1,131 549 860 819 1,153 771 1,132 573 773 557 819 678 1,064 504 788 715 1,069 617 977 475 629 403 703 462 898 45 72 104 84 154 154 98 144 153 116 216 166 39 6 15 71 25 98 36 157 32 125 83 67 999 810 989 915 902 1,072 789 726 452 1,282 688 483 240 141 82 62 131 25 78 100 4 10 5 13 695 642 1,363 1,049 1,340 1,246 810 756 871 1,116 891 1,459 593 548 1,273 832 1,244 1,133 710 656 784 992 732 1,376 350 259 499 380 550 459 279 336 283 511 183 626 243 289 774 452 694 675 431 319 501 481 549 751 30 17 17 26 17 38 35 39 5 34 54 30 71 77 74 191 78 75 65 61 81 91 106 53 684 631 1,349 1,034 1,323 1,230 797 745 862 1,101 879 1,444 613 594 1,144 930 904 1,013 676 638 795 1,013 819 1,415 563 448 1,056 812 830 783 588 566 730 912 606 1,098 50 146 88 118 74 230 89 71 65 100 212 316 72 37 205 104 419 217 121 107 67 88 61 30 159 23. NEW SECURITY ISSUES — Continued B. PROPOSED USES OF NET PROCEEDS BY MAJOR GROUPS OF CORPORATE ISSUERS: OLD GROUPING, 1934-47 [In millions of dollars] Industrial & misc. Real estate & financial Railroads Public utility Period New capital Retirement of securities New capital Retirement of securities New capital Retirement of securities New capital Retirement of securities 28 34 53 77 52 120 20 1935 1936 1937 1938 1939 224 519 706 605 231 550 761 373 226 353 60 90 140 265 90 1 190 1 897 611 943 1,157 67 215 229 24 85 54 558 110 30 97 50 238 64 9 14 72 152 7 7 88 1940 1941 1942 1943 1944 223 365 438 299 530 738 463 89 199 504 259 347 172 46 56 922 993 292 423 1,343 133 253 32 46 102 186 108 15 114 500 147 76 4 17 65 9 18 4 42 959 2 620 2,333 1 010 981 353 132 878 2,273 2,159 1 252 939 115. 132 247 1,320 571 35 141 259 262 65 64 24 1934 . . . . 1945 1946 . . . 1947 1934 1935—Jan Feb Mar Apr . May June. July Aug. Sept Oct . Nov Dec 1936 Jan Feb... Mar Apr Mar June July.. 4 1 3 2 2 } 12 2 3 00 Jan Feb.. . Mar Apr May. June July Aug. Sept Oct Nov.. Dec 6 4 9 4 20 1 21 3 27 43 8 82 46 175 15 24 7 9 26 21 60 5 37 11 16 15 44 1 2 6 3 20 11 1 40 1 2 50 72 29 99 306 35 146 178 198 74 2 4 i 4 28 13 Sept... Oct Nov. Dec 1937 121 32 68 180 80 121 36 18 22 13 41 29 17 6 2 1 4 7 23 Jan Feb Mar Apr May. June July Aug.. Sept Oct Nov Dec 56 69 50 40 37 127 123 26 96 36 20 28 54 84 48 31 30 42 38 4 39 1 1 9 5 1 11 3 27 26 5 13 28 5 60 47 5 1 2 15 6 6 8 5 18 21 4 8 18 14 31 12 24 50 20 58 21 23 55 51 42 131 AUK 6 16 1 1 31 1 1 2 3 13 13 160 65 93 193 297 102 169 131 59 120 251 65 354 63 133 141 10 46 125 2 30 1 51 1 8 15 9 2 10 1 3 2 24 50 2 1 21 31 ii9 4 8 47 7 33 1 3 1 67 1 25 7 9 8 25 7 45 43 72 22 15 3 9 1 7 4 104 49 131 44 25 19 7 14 50 5 3 40 4 3 2 14 2 1 10 21 100 8 35 40 5 14 1 2 2 2 37 1 1 5 3 64 8 47 1 18 13 1 5 23. NEW SECURITY ISSUES — Continued B. PROPOSED USES OF NET PROCEEDS BY MAJOR GROUPS OF CORPORATE ISSUERS: OLD GROUPING, 1934-47 — Continued [In millions of dollars] Industrial & misc. Month New capital 5 1938 Jan Feb Mar Apr May June. July Aug.. Sept Oct.. . 44 10 . . . 122 41 6 19 24 20 5 103 6 9 10 Feb 14 59 2 83 84 51 9 24 77 18 Mar. Apr May June. July Aug... Sept Oct Nov. 14 21 10 New capital 38 45 3 3 14 50 9 55 1 Retirement of securities New capital 1 62 23 87 35 170 2 6 6 3 8 3 110 14 32 82 24 243 4 1 1 30 28 2 5 13 1 7 1 1 7 51 236 49 5 11 137 50 2 2 3 2 6 51 30 2 2 1 7 7 11 10 4 17 9 21 4 2 21 11 140 14 59 19 10 15 31 13 1940—Jan.. Feb Mar.. Apr May June July Retirement of securities 1 13 22 12 27 2 New capital 62 57 263 66 118 5 1 Retirement of securities 10 Dec 20 112 18 69 78 2 14 4 17 70 92 16 37 1 3 1 5 5 11 20 7 27 98 100 2 15 5 34 82 14 30 65 7 18 16 . . Oct Nov.. Dec 1941—Jan.. . . 11 97 19 27 21 5 30 66 8 84 32 141 17 11 11 2 146 26 47 202 16 219 28 10 16 26 12 11 2 31 1 2 1 2 7 12 10 16 34 23 109 27 39 66 17 3 48 19 93 55 129 64 27 21 3 5 50 5 2 1 31 1 8 3 21 AUK Mar.... Apr May.. June. July Aug.. Sept Oct Nov. Dec... 2 5 24 Dec 1939—j an Feb 2 24 141 110 73 13 65 Nov Sept... Retirement of securities Real estate & financial Railroads Public utility 54 134 45 9 1 7 37 19 36 14 63 62 38 29 40 9 13 24 97 26 169 106 63 11 51 23 24 7 21 1 31 16 13 138 8 16 47 15 15 46 28 1942—Jan Feb Mar Apr . May.... June. July Aug Sept Oct Nov Dec 43 26 42 98 92 1 14 5 17 1 28 83 10 40 4 13 10 4 6 6 29 20 3 34 15 1943__j an Feb Mar Apr May. June July Aug... Sept Oct 5 2 42 1 . . Nov Dec 64 23 2 38 4 5 2 3 12 1 6 15 31 13 17 1 10 5 3 11 22 9 24 9 22 7 2 1 26 10 6 29 120 19 10 27 11 10 9 3 36 30 1 7 7 161 50 2 4 25 29 3 2 2 7 35"""" 4 4 4 6 10 4 6 12 2 3 6 1 9 16 17 4 34 20 8 5 57 38 21 53 41 50 38 71 3 14 6 4 3 3 10 18 29 7 28 23 8 3 1 2 3 4 23. NEW SECURITY ISSUES — Continued B. PROPOSED USES OF NET PROCEEDS BY MAJOR GROUPS OF CORPORATE ISSUERS: OLD GROUPING, 1934-47 — Continued [In millions of dollars] Industrial & misc. Month New capital Retirement of securities Public utility New capital Retirement of securities Railroads New capital 1944__Jan.. Feb. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 41 54 29 59 40 40 47 38 15 117 23 27 53 7 18 68 63 30 74 10 77 74 23 7 1945—Jan.. Feb., Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 29 14 44 84 139 20 179 134 92 118 28 79 48 27 40 44 99 47 304 116 42 105 33 105 6 7 7 42 9 32 47 81 121 134 196 37 302 111 372 524 54 181 1946—Jan.. Feb.. Mar. Apr., May June, July. Aug. Sept. Oct.. Nov. Dec. 108 60 120 286 160 256 196 359 134 220 480 241 48 109 27 165 137 160 154 78 12 13 48 30 2 2 1 20 16 48 190 12 27 109 25 426 47 41 67 125 421 144 157 37 82 20 28 84 7 2 2 1 7 9 9 3 16 21 18 37 1947_Jan.. Feb.. Mar. Apr.. May. June, July. Aug.. Sept. Oct.. Nov. Dec. 152 125 83 317 167 141 213 120 71 247 148 550 84 4 6 24 35 26 39 13 11 23 45 43 18 59 225 35 56 361 228 71 172 298 247 502 28 25 107 65 180 181 73 96 136 9 31 28 7 11 17 15 28 28 23 4 31 37 20 3 6 5 12 14 7 4 11 3 12 162 61 30 132 29 58 25 56 26 155 485 265 20 Real estate & financial Retirement of securities New capital Retirement of securities 9 25 2 4 21 19 10 2 41 115 179 35 48 82 12 119 96 14 18 346 57 12 10 4 27 93 74 266 219 19 160 190 97 69 24 3 19 10 31 1 3 2 2 42 11 4 14 2 17 6 9 22 23 24 6 15 3 28 22 26 33 51 7 5 8 54 12 60 22 12 36 15 4 47 16 20 29 1 2 12 30 2 3 5 8 10 18 4 2 12 23. NEW SECURITY ISSUES — Continued C. PROPOSED USES OF NET PROCEEDS BY MAJOR GROUPS OF CORPORATE ISSUERS: NEW GROUPING, 1948-63 [In millions of dollars] Manuf icturing Period New capital Retirement of securities Commercial and miscellaneous New capital Retirement of securities Transportation New capital Retirement of securities Public utility New capital Retirement of securities Communication New capital Retirement of securities Real estate and financial New capital Retirement of securities 1948 1949 2,126 1,347 54 44 382 310 21 28 691 784 56 11 2,005 2,043 144 233 890 517 2 49 557 558 30 35 1950 1951 . 1952 1953 1954 1,026 2,846 3,713 2,128 2,044 149 221 261 90 190 474 462 512 502 831 63 56 24 40 93 609 437 758 553 501 196 53 225 36 270 1,927 2,326 2,539 2,905 2,675 682 85 88 67 990 314 600 747 871 651 81 5 6 3 60 639 449 448 1,536 788 100 66 60 24 273 1955 1956.. 1957 1958.. 1959 2,397 3 336 4,104 3,265 1,941 533 243 49 195 70 769 682 579 867 812 51 50 29 13 28 544 694 802 778 942 338 20 14 38 15 2,254 2 474 3,821 3,605 3,189 174 14 51 138 15 1,045 1 384 1,441 1,294 707 77 21 4 118 1,812 1 815 1,701 1,014 1,801 56 17 67 47 6 79 287 228 190 794 1 109 803 774 30 36 32 55 672 651 543 873 39 35 16 83 2,754 2,883 2,341 1,935 51 106 444 699 1,036 1 435 1,276 726 382 11 356 2,401 2 248 1,825 2,933 71 22 23 144 6 49 47 51 45 26 88 70 42 44 65 75 90 121 110 200 242 108 236 123 75 153 168 146 326 5 12 36 15 60 1 92 6 114 153 65 3 83 79 72 161 . . ... 1,997 3 691 2,958 3,312 1948—Jan Feb.... Mar Apr May. June July. . . Aug Sept Oct Nov Dec 92 365 98 210 158 101 237 95 110 357 148 155 1949—Jan Feb . Mar Apr.. May June July... Sept Oct . Nov Dec. 123 136 103 298 96 165 200 44 22 67 35 58 Jan. . . Feb Mar .. Apr May June July. . Aug Sept . . . . Oct Nov Dec 29 50 47 23 145 152 64 41 60 149 122 144 1951—Jan Feb Mar Apr May June July Aug Sept Oct Nov... . Dec 66 55 263 326 333 365 138 213 144 297 194 454 I960 1961 1962 1963.. . AUE 1950 11 9 24 1 5 2 2 3 34 56 23 27 27 47 47 19 25 29 16 34 5 1 1 3 5 5 26 17 38 11 21 31 10 26 47 38 11 34 13 2 57 73 96 49 77 71 132 27 33 70 26 74 2 4 11 13 9 23 7 12 10 22 13 22 31 20 14 27 37 35 66 29 59 23 27 107 4 1 1 6 7 9 2 4 6 16 6 1 82 26 96 63 55 40 68 39 70 25 20 24 9 4 34 47 6 19 17 17 13 10 21 26 62 24 54 43 43 48 24 18 24 40 46 37 7 5 2 4 14 5 12 3 3 44 12 50 26 19 30 19 69 48 17 70 34 i 7 6 1 4 16 4 8 2 163 37 19 1 7 4 31 22 29 50 4 3 57 18 3 14 1 16 29 2 14 21 8 2 7 2 8 46 4 386 26 1 4 13 16 4 126 96 166 239 182 484 113 93 64 148 129 203 16 39 2 1 27 45 4 96 192 67 132 217 145 389 48 108 146 192 122 168 11 30 48 55 166 159 10 105 12 41 39 5 203 133 216 117 265 193 252 186 146 125 196 257 240 8 3 38 5 2 3 6 2 423 24 3 2 51 3 8 15 37 25 2 4 2 ....... 14 17 24 5 3 19 7 7 14 11 4 1 1 3 35 10 2 8 61 3 2 4 4 1 60 14 171 37 9 74 46 10 47 44 36 8 14 2 1 10 54 28 77 41 77 24 6 58 11 92 79 14 15 20 22 61 85 30 118 32 60 26 26 41 117 31 39 20 26 33 88 74 27 14 62 14 21 2 7 1 6 50 23 8 13 3 1 1 1 6 2 4 15 36 2 23. NEW SECURITY ISSUES — Continued C. PROPOSED USES OF NET PROCEEDS BY MAJOR GROUPS OF CORPORATE ISSUERS: NEW GROUPING, 1948-63 — Continued [In millions of dollars] Manufsicturing Month New capital 1952 Jan Feb Mar Apr May June July Retirement of securities Commercial and miscellaneous New capital Sept Oct.. . Nov Dec. 373 247 381 268 581 264 336 93 136 577 147 309 5 24 5 16 50 7 18 34 47 19 18 18 25 11 45 71 22 44 49 33 14 29 21 148 1953—Jan.. . Feb Mar . Apr May June July Aug Sept Oct Nov Dec 280 140 192 302 89 276 116 44 131 53 93 409 8 6 7 7 19 7 17 2 1 2 6 9 17 72 35 23 55 38 55 17 18 47 25 100 AUK 1954 Jan Feb Mar Apr. M^ay June July Aug .. Sept Oct Nov Dec. 117 45 99 76 199 273 520 107 109 273 105 123 17 2 7 8 6 23 5 10 40 5 3 64 51 24 62 63 41 90 68 41 58 127 73 132 1955 Jan Feb.. Mar Apr.. May June. July Aug Sept Oct Nov Dec 147 67 539 123 351 155 214 115 166 85 149 287 37 16 86 31 52 8 140 55 19 32 54 44 61 95 38 49 109 63 37 68 56 70 79 1956 Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 171 183 252 259 467 281 333 196 206 314 147 526 26 19 24 78 11 19 8 16 10 7 19 5 40 44 47 29 58 77 95 83 36 31 110 33 1957 Jan Feb Mar Apr May 379 558 361 322 130 623 248 243 320 129 220 572 5 4 41 76 34 39 48 35 69 51 38 51 38 60 July AUE Sept Oct Nov Dec 9 6 5 5 4 2 8 Retirement of securities 3 9 3 1 2 2 2 1 1 15 1 6 2 4 3 1 2 4 i 6 12 1 4 32 14 1 16 4 5 3 1 1 9 4 4 14 6 4 3 1 1 16 1 21 4 2 3 3 2 1 2 3 5 12 Transportation New capital 25 44 99 167 99 23 82 27 38 29 32 93 42 33 82 66 40 45 46 15 32 36 32 84 65 37 42 58 20 40 60 46 40 22 18 52 48 8 36 18 55 55 29 45 50 54 17 130 26 38 71 53 86 54 36 37 63 37 45 148 101 30 70 73 80 50 45 31 80 49 54 138 164 Retirement of securities 68 35 85 1 2 12 23 14 18 3 7 4 12 31 123 25 51 18 43 89 3 141 4 52 4 1 j 10 1 2 5 8 6 Public utility New capital 174 95 401 259 228 343 231 106 165 280 43 213 214 245 210 215 391 314 207 97 241 350 229 191 275 266 316 237 330 373 188 104 174 212 46 153 Retirement of securities i 2 10 2 2 1 67 3 8 2 8 17 1 i 5 16 8 46 72 173 58 132 55 74 60 15 305 195 97 195 178 231 260 103 84 208 166 268 269 41 7 28 36 16 11 67 196 189 292 335 226 237 154 242 227 153 157 1 246 246 490 354 350 431 244 251 417 333 287 173 6 13 1 12 2 i 6 1 4 13 16 6 7 9 Communication New capital 2 3 5 47 26 28 493 21 16 26 47 33 28 7 16 13 7 37 18 30 88 13 5 608 27 7 28 26 40 8 2 25 326 98 20 43 5 26 21 12 24 32 45 91 19 694 40 35 3 36 102 15 81 11 261 82 56 68 596 73 105 46 277 50 82 136 54 124 65 369 92 41 Retirement of securities 2 : 1 2 1 3 54 1 2 18 6 6 32 10 3 1 18 1 3 Real estate and financial New capital 15 13 19 58 35 68 47 11 20 58 50 55 42 125 132 160 93 412 40 122 242 77 45 46 12 48 88 38 26 58 71 12 41 270 26 100 96 147 337 110 177 76 143 272 158 107 88 100 267 216 155 170 118 192 102 102 236 68 37 151 189 110 89 91 75 178 343 224 53 159 98 92 Retirement of securities 1 1 1 10 4 25 1 7 3 7 1 1 5 7 2 3 2 3 1 25 1 98 128 2 7 4 1 8 2 26 6 4 1 2 3 3 8 1 1 1 4 2 7 1 2 4 1 30 30 23. NEW SECURITY ISSUES — Continued C. PROPOSED USES OF NET PROCEEDS BY MAJOR GROUPS OF CORPORATE ISSUERS: NEW GROUPING, 1948-63 — Continued [In millions of dollars] Manufacturing Month New capital 1958 Jan . Feb Mar Apr May June July AUK Sept Oct Nov Dec 145 173 196 612 162 253 526 113 473 265 120 226 Retirement of securities 10 40 11 27 40 22 14 4 7 9 11 Commercial and miscellaneous New capital 28 24 48 68 22 29 40 55 386 41 74 53 1959—Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 143 123 92 279 250 222 135 127 206 86 114 164 16 1 1 5 7 4 1 15 4 14 I960 Jan Feb. Mar Apr. May June. July Auc Sept Oct Nov Dec 59 67 172 171 92 249 182 220 161 185 249 191 4 1 1 2 6 1 6 4 4 27 22 61 99 129 47 68 49 38 51 45 66 79 61 1961 Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec . 155 99 227 584 441 459 430 257 254 267 226 291 2 4 28 16 25 123 9 23 5 29 9 14 35 90 45 92 113 112 102 88 62 160 59 151 1962 Jan Feb Mar Apr May 205 133 311 383 269 344 204 218 145 167 249 331 14 2 2 67 3 35 28 4 17 10 16 31 98 54 71 102 94 73 27 46 57 40 39 103 135 220 592 148 216 227 297 272 237 240 214 515 5 6 31 5 29 10 28 3 47 5 8 13 49 52 85 64 60 114 63 50 32 60 41 104 Julv Auc Sept Oct Nov Dec 1963 Jan Feb Mar Apr May June July AUJT Sept Oct Nov Dec . . . . 3 67 108 48 74 53 129 61 44 35 83 50 61 Retirement of securities j 3 2 4 2 | 2 6 2 10 4 2 1 Transportation New capital 83 42 60 88 24 106 59 27 33 81 25 151 24 80 154 56 74 35 93 32 98 138 104 17 60 2 3 57 18 74 53 • 78 38 50 92 51 36 45 78 2 6 1 9 1 6 3 1 5 22 1 1 5 Retirement of securities 83 55 46 27 68 117 11 68 28 57 60 32 1 6 25 45 75 28 38 45 24 72 47 20 35 90 2 1 5 12 2 3 4 7 4 4 5 8 99 30 143 34 101 109 35 36 61 25 83 118 2 3 4 4 7 6 165 5 6 2 4 1 1 1 1 1 35 1 7 20 7 1 15 60 12 8 2 1 Public utility New capital 322 368 402 293 302 409 347 281 181 311 126 263 295 185 333 314 337 328 170 191 109 341 241 346 155 245 198 303 144 362 126 222 303 203 314 180 137 160 84 245 439 371 288 215 111 297 364 172 89 148 192 377 198 410 118 111 148 141 169 241 114 115 97 342 222 230 107 100 78 201 131 198 Retirement of securities 22 38 16 46 2 14 2 2 5 1 1 5 2 18 3 14 10 2 21 17 14 3 2 8 40 24 4 2 16 56 4 142 13 108 50 25 65 30 61 86 58 179 82 22 73 41 2 Communication New capital 34 35 797 40 11 12 101 14 9 48 89 103 Retirement of securities 50 37 30 1 34 62 9 16 6 22 7 36 56 126 262 72 36 85 68 52 36 61 57 165 94 254 27 100 21 38 19 996 86 20 22 14 75 21 78 45 73 362 21 oo 64 76 88 120 67 259 4 54 125 68 43 71 92 58 86 25 39 41 13 64 Real estate and financial New capital 117 214 51 38 75 78 34 50 32 117 84 124 202 105 107 138 104 94 129 245 161 140 180 198 1 70 45 12 251 3 1 1 4 2 2 3 3 262 8 5 71 1 4 3 Retirement of securities 3 1 2 1 4 34 1 2 1 1 2 201 201 219 136 157 286 282 215 72 147 242 242 50 148 217 107 197 111 238 198 134 100 299 178 320 7 1 1 58 118 150 177 108 183 112 207 93 192 181 245 91 110 183 271 212 276 89 155 348 446 337 416 3 1 9 4 3 4 4 1 2 1 1 9 1 2 3 2 1 2 2 1 105 9 5 2 4 7 1 4 6 24. NEW ISSUES OF STATE AND LOCAL GOVERNMENT SECURITIES, 1946-63 [In millions of dollars] Issues for new capital All issues (new capital and refunding) Type of issue Type of issuer Period Total General obligations Revenue Public Housing Auth. U. S. Govt. loans 1946 1947 1948 1949 1,204 2,354 3,004 2,996 979 1,964 2,388 2,170 206 386 550 683 19 4 66 143 1950 1951 1952 1953 1954 3,694 3,278 4,401 5,558 6,969 3,035 2,159 2,580 3,492 3,380 600 730 1,454 1,558 3,205 59 389 358 499 375 9 9 9 1955 1956 1957 1958 1959 5,976 5,446 6,926 7,526 7,697 3,742 3,577 4,795 5,447 4,782 1,730 1,626 1,965 1,778 2,407 502 199 66 187 332 2 44 99 115 176 1960 1961 1962 1963 7,292 8,566 8,845 10,538 4,771 5,724 5,582 5,855 2,095 2,407 2,681 4,180 302 315 437 254 125 120 145 249 State Special district and Other Total amount delivered Total stat. auth. Use of proceeds Education Roads and bridges Utilities Housing Veterans' aid 150 870 900 651 201 374 533 524 853 1,111 1,572 1,821 1,049 2,311 2,813 2,889 194 205 412 • 524 168 202 423 520 181 476 438 545 9 70 148 203 39 673 643 263 1,460 246 722 1,988 1,889 2,378 2,701 3,459 3,579 3,188 4,087 5,477 6,789 709 582 969 1,320 1,432 510 580 938 1,588 2,136 619 640 642 803 1,270 123 361 424 506 456 635 42 100 141 162 668 718 767 2,047 1,305 2,091 1,463 1,408 1,097 800 983 1,489 1,993 1,686 1,272 1,371 2,121 3,472 3,664 4,164 4,162 3,890 6,568 7,708 7,423 5,911 5,383 6,875 7,441 7,589 1,516 1,455 2,524 2,617 2,318 1,362 698 1,036 1,164 844 881 1,399 1,517 1,412 1,985 570 258 113 251 401 169 110 333 339 355 1,110 1,928 1,419 1,620 1,984 2,165 2,600 3,636 4,198 4,473 4,825 5,281 7,102 8,301 8,732 10,496 7,247 8,463 8,568 9,151 2,405 2,821 2,963 3,029 1,007 1,167 1,114 812 1,316 1,700 1,668 2,344 426 385 521 598 201 478 125 1946—Jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 76 76 89 85 144 131 139 68 89 53 78 175 3 17 3 1 38 6 17 1 23 2 31 9 7 20 6 14 52 21 15 1 3 2 4 56 65 39 80 71 53 105 107 66 63 49 43 111 70 54 58 74 96 117 133 68 79 49 78 173 12 10 16 16 28 18 20 14 6 10 14 32 2 19 2 3 8 18 6 8 17 11 4 72 20 4 15 18 15 6 32 14 18 6 9 25 1947_jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 229 100 354 406 109 215 145 194 275 121 106 101 13 36 206 307 14 115 1 16 145 5 2 10 85 15 57 9 5 2 25 130 34 6 5 131 49 91 89 90 97 119 49 96 110 99 91 220 100 352 396 107 214 135 193 275 117 104 100 13 6 21 15 19 21 29 5 5 23 21 29 13 37 23 13 19 7 8 7 55 8 9 4 105 25 66 10 15 9 39 119 19 22 34 13 1948—Jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 126 227 640 183 196 308 258 319 119 283 214 132 26 101 503 7 2 80 13 34 18 36 66 14 4 7 21 6 2 52 146 147 1 122 12 13 96 119 117 169 192 176 99 138 100 126 137 105 124 221 639 181 187 303 148 269 118 280 212 129 35 9 28 24 45 56 37 49 37 37 26 30 18 28 29 9 8 68 25 116 5 82 33 4 15 55 37 68 32 58 26 25 22 41 46 13 1949—Jan... Feb.. Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 199 204 172 199 350 325 244 219 333 231 266 256 51 16 2 2 90 152 71 39 86 83 53 9 4 3 5 58 153 2 6 38 79 4 56 118 145 185 165 139 107 171 168 143 169 144 157 129 198 199 171 198 343 324 243 217 326 229 242 199 72 41 23 21 34 63 50 38 54 46 54 29 5 21 26 4 149 36 42 16 160 17 23 21 31 37 64 67 33 28 25 83 44 31 51 51 166 15 24 1 '266' 300 10 75 80 1 88 504 "•5' 11 4 3 50 54 5 "25* 1 2 1 1 50 5 '52' 2 8 50 50 124 5 15 3 24. NEW ISSUES OF STATE AND LOCAL GOVERNMENT SECURITIES, 1946-63 — Continued [In millions of dollars] All issues (new capital and refunding) Type of issue Issues for n e w capital Type of issuer Use of proceeds Total amount delivered Month Total General obligations Revenue Public Housing Auth. U. S. Govt. loans State Special district and stat. auth. Total Other Education Roads and bridges Utilities 5 74 40 12 16 11 125 133 164 175 221 199 192 177 114 171 166 152 247 564 356 180 335 342 207 316 286 229 378 141 58 19 64 42 116 65 47 52 75 50 86 35 16 46 107 18 49 22 21 6 62 28 123 13 34 47 46 53 56 52 67 93 29 44 76 24 21 10 39 26 62 35 181 10 73 199 28 38 159 178 119 149 212 222 157 134 149 166 134 110 162 204 159 235 429 333 363 156 248 372 287 242 25 47 29 90 98 62 35 41 51 37 39 28 4 18 12 63 160 78 27 12 28 18 137 118 15 41 42 102 8 29 55 44 136 100 45 54 64 35 73 60 69 33 61 76 41 30 575 304 151 456 406 637 245 212 474 309 230 403 58 44 2 177 153 75 3 17 2 62 66 61 349 6 13 5 66 345 5 21 302 46 9 137 168 254 136 274 188 217 238 174 171 201 155 205 358 300 147 455 392 630 244 201 474 303 183 398 100 69 47 84 75 136 81 64 68 99 76 72 13 51 12 119 48 365 24 28 69 37 18 156 58 45 39 72 58 63 54 55 34 77 36 52 392 363 433 349 650 443 522 260 476 483 411 777 44 125 84 51 22 64 96 87 30 62 94 9 157 16 59 111 362 51 154 18 262 196 135 571 191 222 290 187 267 328 272 155 184 225 182 198 389 360 426 329 649 434 519 259 475 453 408 774 98 108 113 72 148 195 149 77 51 115 86 106 32 18 93 66 237 20 207 74 137 156 160 387 64 88 113 54 49 106 84 29 51 55 50 62 1954 Jan Feb Mar Apr May June.... July Aug Sept Oct Nov Dec 399 414 570 735 783 855 280 300 652 616 459 906 53 76 89 126 401 142 42 34 80 201 239 566 17 62 179 300 14 432 9 41 305 103 1 2 330 276 303 310 368 281 230 225 267 312 219 338 396 411 565 734 748 853 279 261 649 594 423 877 128 138 139 160 154 188 70 79 124 118 62 72 6 67 72 307 385 376 18 54 199 209 182 261 70 97 88 102 50 67 59 63 95 130 58 391 1955—Jan Feb Mar Apr May June.... July Aug Sept Oct Nov Dec 541 328 540 429 350 651 470 259 407 926 661 415 65 23 256 35 18 202 59 6 12 442 267 23 130 14 23 119 89 104 125 2 103 189 53 146 347 290 262 275 243 346 286 251 293 295 340 246 535 312 538 427 350 642 470 249 406 919 658 408 171 115 163 134 94 137 99 87 88 88 205 136 25 19 132 23 18 185 81 27 92 509 144 107 67 82 86 59 55 115 59 47 94 64 73 80 1950 Jan Feb Mar Apr May.... June.... July Aug Sept Oct Nov Dec 248 569 362 184 355 361 207 323 290 229 395 171 121 403 177 8 103 163 11 72 136 46 213 8 1951 Jan.. . Feb Mar Apr May June July Sept Oct.. . Nov Dec 180 206 170 238 434 335 364 156 249 382 299 266 1952 Jan.. . Feb Mar Apr May June July... Aug Sept.... Oct Nov Dec. 1953 AUK. Jan Feb Mar Apr. . May June.. July AUK Sept Oct Nov Dec 2 33 21 2 31 167 Housing 1 21 3 3 63 1 11 9 Veterans' aid Other purposes 90 400 19 49 51 100 64 113 136 71 88 57 107 90 59 4 ""65" 55 3 11 4 8 171 15 157 io 38 134 5 8 73 76 22 2 202 1 137 100 11 10 123 125 15 121 5 61 50 16 2 15 10 121 3 3 126 1 139 1 10 60 118 3 54 112 28 125 5 60 22 20 8 126 60 87 98 47 70 215 102 80 53 67 58 71 36 54 130 42 104 116 67 86 53 101 90 53 119 58 46 96 126 91 114 79 79 96 128 112 93 81 94 144 147 145 95 132 63 83 136 120 93 93 93 81 99 182 157 107 83 124 132 176 85 25. NET CHANGE IN OUTSTANDING CORPORATE SECURITIES A. BY ALL ISSUERS, 1934-63 [In millions of dollars] Derivation of change All securities Period New Retire- Common and preferred stocks Bonds and notes Net change New issues Retirements Net change New issues Invest, cos. Net change Retirements Other Invest, cos. Other Invest, cos. Other 1934 393 653 -260 370 620 -250 23 33 -10 1935 1936 1937 1938 1939 2,327 4,495 2,275 2,179 2,122 2,670 3,869 2,323 1,630 2,681 -343 626 -48 549 -559 2,224 3,994 1,623 2,082 1,929 2,424 3,419 2,075 1,504 2,550 -200 575 ^52 • 578 -621 103 501 652 97 193 246 450 248 126 131 -143 51 404 -29 62 1940 1941 1942 1943 1944 2,751 2,743 1,082 1,215 3,231 3,024 2,767 1,418 2,015 3,747 -273 -24 -336 -800 -516 2,472 2,391 928 990 2,670 2,814 2,516 1,317 1,757 3,322 -342 -125 -389 -767 -653 279 352 154 225 561 210 251 101 258 425 69 101 53 -33 136 1945 1946 1947 1948 1949 6,145 6,796 6,600 7,597 6,776 6,718 4,570 2,409 1,677 1,876 -573 2,226 4,191 5,921 4,900 4,908 4,702 5,008 5,936 4,867 5,946 3,588 2,003 1,212 1,582 -1,038 1,114 3,005 4,725 3,285 325 423 1,236 2,093 1,592 1,336 1,486 222 115 772 983 406 243 179 103 308 464 1,111 1,186 1,093 1,307 1950 1951 1952 1953 1954 7,269 9,059 10,781 9,633 11,829 3,504 2,759 2,750 2,425 5,635 3,765 6,300 8,031 7,208 6,193 4,804 5,682 7,344 6,651 7,832 2,800 2,099 2,402 1,894 4,033 2,004 3,583 4,942 4,757 3,799 577 779 851 766 998 1,888 2,598 2,586 2,216 2,999 281 365 203 247 406 423 295 145 284 1,196 296 414 648 519 592 1,465 2,303 2,441 1,932 1,802 1955 1956 1957 1958 1959 12,641 13,414 14,608 15,091 13,338 5,574 5,013 3,586 5,273 4,845 7,066 8,402 11,021 9,818 8,493 7,571 7,814 9,611 9,661 7,122 3,383 • 3,203 2,584 3,811 3,049 4,188 4,611 7,026 5,850 4,073 1,451 1,680 1,688 2,360 2,838 3,619 3,920 3,309 3,070 3,378 466 437 406 519 794 1,725 1,373 596 943 1,002 985 1,243 1,282 1,841 2,044 1,893 2,548 2,713 2,127 2,376 1960 1961 1962 1963 13,485 17,503 14,206 15,552 4,962 6,999 6,457 8,711 8,523 10,504 7,750 6,841 8,072 9,194 8,613 10,556 3,078 4,024 3,749 4,979 4,994 5,170 4,864 5,577 2,688 3,855 3,338 3,049 2,725 4,454 2,255 1,948 855 1,171 1,140 1,536 1,029 1,804 1,567 2,197 1,833 2,684 2,198 1,513 1,696 2,650 688 -249 1948—1.. II. III IV 1,980 1,986 1,446 2,185 440 440 425 372 1,540 1,547 1,021 1,813 1,482 1,463 1,150 1,841 311 337 298 266 1,171 1,126 852 1,575 76 90 73 86 422 433 223 258 49 41 96 36 80 62 31 70 27 50 -23 50 342 371 192 188 1949—1.. II. III IV 1,376 2,606 1,260 1,534 320 395 434 726 1,056 2,212 825 808 1,071 1,997 829 970 271 322 358 630 800 1,675 471 340 87 95 110 131 218 514 321 433 32 24 25 34 17 49 51 62 55 71 84 97 201 466 270 371 1950—1.. II. III IV 1,642 2,473 1,329 1,825 765 1,131 935 673 877 1,342 394 1,152 1,056 1,587 933 1,228 641 913 750 496 415 674 183 732 157 135 125 160 429 751 271 437 54 76 67 84 70 142 118 93 103 59 58 76 359 609 153 344 1951—1.. II. III IV 2,154 2,673 1,733 2,498 763 834 632 530 1,392 1,839 1,101 1,967 1,465 1,702 1,065 1,450 586 633 478 402 879 1,069 587 1,047 213 155 165 246 476 816 503 802 107 92 90 76 70 109 64 52 106 63 75 170 407 707 439 750 1952—1.. II. III IV 2,352 3,048 2,462 2,919 526 628 745 851 1,825 2,420 1,717 2,069 1,544 2,127 1,793 1,879 457 544 640 761 1,087 1,583 1,152 1,119 196 190 203 263 612 731 466 52 51 52 49 17 33 53 41 144 139 152 214 594 698 413 736 1953—1.. II. III IV 2,337 2,922 1,873 2,501 630 627 532 637 1,707 2,295 1,341 1,864 1,488 2,065 1,313 1,785 491 478 419 506 997 1,587 894 1,279 213 184 166 203 636 673 394 513 67 71 54 55 72 78 59 76 146 113 112 148 564 595 335 437 I.. II. III IV 2,727 2,883 3,066 3,153 1,007 1,287 1,405 1,937 1,720 1,596 1,661 1,218 1,600 1,868 2,302 2,062 773 883 993 1,384 827 985 1,309 679 211 201 916 814 522 747 112 107 99 146 292 305 454 123 89 135 245 770 522 217 294 170 in 25. NET CHANGE IN OUTSTANDING CORPORATE SECURITIES — Continued A. BY ALL ISSUERS, 1934-63 — Continued [In millions of dollars] Derivation of change All securities Common and preferred stocks Bonds and notes Period New issues Retirements Net change New issues Retire- Net change New issues Invest. Retirements Net change Other Invest, cos. Other Invest, cos. Other 1955—1.. II. Ill IV 2,983 2,895 2,944 3,819 ,377 ,525 ,471 ,201 1,606 1,369 1,472 2,618 1,678 1,750 1,838 2,305 775 834 938 836 903 916 899 1,469 387 311 350 403 918 834 756 1,111 145 127 101 93 457 564 432 272 242 184 249 310 461 269 324 839 1956—1.. II. Ill IV 3,001 3,358 3,394 3,661 ,184 ,598 ,102 ,128 1,816 1,760 2,291 2,533 1,709 2,124 2,160 1,821 812 931 752 707 896 1,193 ,407 ,114 424 377 379 500 868 857 855 1,340 117 118 109 93 255 549 241 328 307 259 270 407 613 308 614 1,012 1957—1.. II. Ill IV 3,755 3,771 3,535 3,546 904 958 864 860 2,851 2,813 2,671 2,687 2,348 2,316 2,552 2,394 654 699 607 624 ,694 ,617 ,945 ,771 460 370 395 463 947 1,085 588 689 102 111 97 96 148 148 160 140 358 259 298 367 799 937 428 549 1958—1.. II. Ill IV 3,634 4,090 3,598 3,770 933 1,649 1,371 1,321 2,701 2,441 2,226 2,449 2,800 2,416 2,262 2,184 660 1,357 1,014 781 2,140 1,059 1,248 1,403 395 604 622 739 439 1,070 714 847 94 113 135 177 179 179 222 363 301 491 487 562 260 891 491 484 1959—1.. II. Ill IV 3,109 3,548 2,914 3,766 1,201 1,371 1,179 1,095 1,910 2,177 1,734 2,672 1,544 1,837 1,661 2,080 718 895 726 710 827 942 934 1,370 700 666 674 798 865 1,045 579 201 231 188 174 282 245 265 211 499 435 486 624 584 800 314 678 1960—1.. II. Ill IV 3,023 3,209 3,391 3,861 1,213 1,220 1,283 1,246 1,810 1,989 2,109 2,615 1,596 1,824 2,089 2,562 719 744 859 756 877 1,080 1,230 1,806 750 591 624 723 677 794 678 576 223 229 207 196 271 247 217 294 527 362 417 527 406 547 462 282 1961—1.. II. Ill IV 3,371 5,727 3,702 4,703 1,435 1,798 1,739 2,028 1,936 3,929 1,963 2,676 1,437 3,303 1,997 2,457 771 1,172 1,201 880 666 2,131 796 1,577 895 836 949 1,175 1,039 1,588 756 1,071 333 321 251 266 331 305 287 882 562 515 698 909 708 1,283 469 190 1962—1.. II. Ill IV 3,394 4,267 2,870 3,676 1,465 1,695 1,700 1,597 1,930 2,571 1,171 2,079 1,644 2,675 1,801 2,494 776 879 1,094 1,000 868 1,796 707 1,494 1,128 876 597 737 622 716 472 445 287 324 239 290 402 492 367 307 841 552 358 447 221 223 106 138 1963—1.. II. Ill IV. 3,175 4,287 3,342 4,747 1,801 2,447 1,987 2,475 1,374 1,840 1,355 2,272 2,096 3,078 2,159 3,222 1,087 1,540 1,230 1,121 1,009 1,538 929 2,101 709 675 734 931 370 534 449 594 352 399 393 392 362 508 364 962 357 276 341 539 26 85 -368 171 25. NET CHANGE IN OUTSTANDING CORPORATE SECURITIES—Continued B. Manufacturing BY TYPE OF ISSUER, 1948-63 [In millions of dollars] Commercial and other Transportation Public utility Communication Real estate and financial 1 Period Bonds & notes Stocks Bonds & notes Stocks Bonds & notes Stocks Bonds & notes Stocks Bonds & notes Stocks Bonds & notes Stocks 6 -23 41 42 105 34 363 438 -10 -5 1,555 1,232 302 755 678 324 358 351 381 430 196 403 302 -10 284 68 107 _3 27 -20 -50 1,029 I 399 ,483 ,639 ,768 699 754 845 1 069 794 -33 112 147 426 -126 454 666 817 622 982 375 162 236 1,242 264 473 610 770 684 812 -31 -164 29 11 162 -260 -31 ,144 H7 2 585 2,133 1,738 849 796 815 1,027 1 028 432 375 1 236 494 475 879 1,196 189 1,070 445 1,170 1,131 995 206 994 1,160 1,540 1,554 1,999 2 342 -46 -447 -201 -352 415 -8 289 413 332 173 71 -85 316 1,689 1,648 1,295 876 635 704 479 245 901 149 1 172 438 356 1,457 357 447 1,572 775 833 1,806 2,164 3,212 2,517 1,607 97 31 56 45 2 22 2 -20 68 115 51 128 -3 -5 390 400 248 518 28 120 50 105 80 208 112 278 123 101 69 65 213 56 55 57 29 114 4 50 52 97 -8 -7 43 29 59 55 9 -4 -4 -23 123 103 92 121 2 -1 316 583 143 191 64 298 126 267 27 419 -62 -61 48 37 140 125 56 157 60 158 81 110 99 112 -74 -14 -33 217 -11 118 -20 10 21 20 85 109 -12 21 31 104 113 80 5 -1 1 182 467 86 294 220 273 5 201 135 -14 -118 -36 126 127 121 80 48 103 82 143 128 164 85 96 1951 I II Ill .. IV 165 741 232 557 112 168 125 243 71 86 6 62 13 13 -11 28 -53 -63 43 62 5 -8 3 -4 314 372 343 370 126 248 87 293 136 194 200 136 43 42 56 21 1952 I II Ill IV 656 779 412 795 235 110 31 149 22 21 43 64 21 56 12 17 61 215 32 -25 6 26 -12 7 432 464 217 369 179 326 203 137 339 -109 -93 -25 -91 -8 422 -176 132 146 156 382 6 113 25 92 121 155 109 225 165 173 175 257 1953_I II Il l IV 446 497 160 62 24 24 _7 19 73 33 22 88 -1 10 20 5 12 40 -24 41 -3 1 -7 -13 343 488 335 473 289 363 161 256 -112 -46 36 548 209 146 147 120 237 574 364 67 192 163 132 197 1954 i II ... Ill IV . . 404 244 478 295 -14 40 -39 -132 58 70 53 187 -24 81 154 -103 -8 -3 -40 660 582 332 194 192 340 113 149 50 50 34 131 156 89 124 443 230 217 65 233 198 52 44 -12 66 74 41 99 9 96 182 129 -48 -163 -43 -6 254 305 146 439 180 262 188 219 -320 -41 260 -25 -53 32 41 413 521 163 138 161 1955—I . ... II III ... . IV 38 -13 18 -42 40 -81 -18 28 161 91 106 522 395 192 425 158 172 293 295 399 1956 I II Il l IV. .. 238 448 368 552 105 112 94 145 12 14 154 -9 26 -136 13 -66 -46 -88 126 5 -28 13 -22 196 573 335 233 209 162 186 238 26 12 210 126 177 125 267 627 470 233 340 87 398 333 311 498 1957 I II III 656 294 458 371 440 507 166 294 14 13 59 56 30 15 2 -16 69 57 30 133 -12 24 _5 -6 603 600 793 590 261 343 58 154 128 500 173 435 42 15 78 54 224 152 432 187 397 293 427 437 1,518 676 345 135 230 186 96 1 695 2,641 1,166 1,420 97 648 525 61 -145 235 225 150 216 367 1955 1956 1957 1958 1959 745 1,606 1 779 2,197 316 282 455 1 407 -46 442 I960 1961 1962 1963 399 2,012 1 355 1,804 462 415 -242 -664 281 171 142 406 217 261 516 294 339 III IV ... 324 316 330 548 190 70 45 40 1949—i II ... Il l IV 235 385 180 -124 1950—I II II. ... IV 1948 1949 1950 1951 1952 1953 1954 .. . 1948—I I I IV -93 2 -42 -7 -25 -19 -2 -6" For note see opposite page. 172 25. NET CHANGE IN OUTSTANDING CORPORATE SECURITIES — Continued B. BY TYPE OF ISSUER, 1948-63 — Continued [In millions of dollars] Period M anufacturing Bonds & notes Stocks Commercial and other Bonds & notes Transportation Stocks Bonds & notes Stocks Public utility Bonds & notes Stocks Communication Bonds & notes Stocks Real estate and financial * Bonds & notes Stocks 1958—1 II Ill IV 217 822 694 463 -29 -34 -24 41 -13 8 352 59 -7 -16 6 29 82 98 18 215 -25 4 -3 -69 721 664 398 350 274 193 284 276 857 -511 -16 165 8 712 223 127 275 -21 -198 151 340 524 493 642 1959—1 II Ill IV 2 201 100 13 134 174 42 92 47 96 27 48 18 47 41 55 118 32 127 54 2 18 388 557 253 540 234 375 87 332 37 -25 61 402 122 124 90 109 235 80 366 313 572 497 540 733 1960—1 II Ill IV -110 132 37 341 85 86 209 81 147 41 24 49 2 52 -55 -46 24 64 29 55 -8 -24 218 541 466 464 182. 152 153 149 143 113 226 418 90 79 101 86 455 189 448 479 582 540 479 564 1961—1 II Ill IV 124 960 586 343 97 152 70 95 27 164 48 278 -84 63 70 -496 17 58 -26 21 -17 11 1 -2 95 670 269 614 185 214 152 153 99 101 -170 119 490 727 90 150 305 178 89 203 600 630 784 1,199 1962—1 II Ill IV 180 556 265 353 75 131 6 83 -121 -27 -11 -40 -60 -25 -33 33 -2 -14 -9 197 694 95 309 50 233 135 62 434 188 244 307 85 86 97 89 42 252 130 409 1963—1 II Ill IV 391 460 378 574 49 -146 -143 -2 -101 -234 -54 -275 58 177 17 87 15 -14 -17 -307 100 131 95 180 -3 -28 27 -15 190 250 148 288 25 165 8 47 197 99 82 61 87 99 131 129 73 422 399 912 1,001 631 400 485 370 313 330 592 1 -19 -9 Includes investment companies. 173 26. MUTUAL SAVINGS BANKS: ASSETS AND LIABILITIES, 1945-63 [In millions of dollars] Loans Securities End of period State and local govt. Corporate and other Cash Mortgage Other U. S Govt. 1945. 1946. 1947. 1948. 1949. 4,202 4,451 4,856 5,583 6,479 62 75 94 106 106 10,650 11,745 11,984 11,509 11,444 1950. 1951. 1952. 1953. 1954. 8,039 9,747 11,231 12,792 14,845 127 129 144 165 188 10,877 9,827 9,443 9,191 8,755 1955. 1956. 1957. 1958. 1959. 17,279 19,559 20,971 23,038 24,769 211 248 253 320 358 8,463 7,982 7,583 7,270 6,871 I960. 1961. 1962. 1963. 26,702 28,902 32,056 36,007 416 475 602 607 6,243 6,160 6,107 5,863 ,387 ,377 ,402 ,426 ,441 ,490 ,533 ,572 ,614 ,643 ,659 ,696 838 764 724 779 669 681 881 Other assets Total assets— Total liabilities Deposits & general reserve accounts Other liabilities General reserve accounts 606 815 881 877 872 243 203 213 223 233 16,962 18,662 19,724 20,482 21,503 15,332 16,813 17,759 18,400 19,287 48 61 71 80 94 1,582 1,788 1,894 2,002 2,121 2,356 2,490 140 2,925 335 3,311 428 3,548 608 792 883 917 983 1,026 255 288 304 330 380 22,446 23,504 25,301 27,199 29,350 20,025 20,900 22,610 24,388 26,351 137 153 164 203 261 2,283 2,450 2,527 2,608 2,738 646 676 685 729 721 3,364 3,548 4,344 4,971 4,845 966 920 889 921 829 416 448 490 535 552 31,346 33,381 35,215 37,784 38,945 28,182 30,026 31,684 34,031 34,977 310 369 427 526 606 2,854 2,986 3,105 3,227 3,362 672 677 527 440 5,076 5,040 5,177 5,074 874 937 956 912 589 640 695 799 40,571 42,829 46,121 49,702 36,343 38,277 41,336 44,606 678 781 828 943 3,550 3,771 3,957 4,153 206 226 243 247 256 272 213 19,353 19,428 19,511 19,612 19,620 19,587 19,724 16,867 16,937 17,025 17,085 17,137 17,415 17,462 17,525 17,607 17,646 17,585 17,759 1,199 1,373 1,696 2,183 2,368 1947—Jan... Feb... Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec.. 4,458 4,478 4,481 4,503 4,534 4,606 4,646 4,677 4,709 4,761 4,794 4,856 88 82 83 87 93 96 94 11,855 11,945 11,978 11,974 12,029 12,124 12,177 12,211 12,177 12,198 12,086 11,984 1948—Jan... Feb... Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 4,893 4,914 4,955 5,009 5,057 5,134 5,203 5,274 5,320 5,422 5,491 5,583 87 90 97 95 108 105 97 97 106 100 111 106 12,019 12,026 12,075 12,064 11,997 11,992 12,011 11,927 11,763 11,667 11,543 11,509 ,747 ,802 ,872 ,912 ,942 ,979 2,002 2,032 2,085 2,096 2,121 2,183 849 850 798 743 760 832 726 738 882 841 798 877 229 242 245 257 273 221 233 243 248 261 271 223 19,824 19,925 20,043 20,080 20,137 20,263 20,273 20,311 20,404 20,388 20,335 20,482 17,854 17,931 18,008 18,051 18,088 18,209 18,205 18,227 18,272 18,283 18,210 18,400 71 83 110 104 116 95 106 112 147 109 130 80 1,899 1,911 1,926 1,924 1,933 1,958 1,963 1,973 1,985 1,995 1,995 2,002 1949_Jan... Feb... Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 5,638 5,694 5,753 5,816 5,875 5,950 6,012 6,084 6,174 6,273 6,368 6,479 101 101 103 100 112 106 98 99 106 103 116 106 11,620 11,627 11,684 11,685 11,662 11,659 11,645 11,633 11,590 11,521 11,408 11,444 2,221 2,248 2,244 2,314 2,339 2,367 2,411 2,402 2,412 2,409 2,398 2,368 796 790 812 730 732 799 765 776 785 780 756 872 238 252 253 273 289 231 246 262 266 291 316 233 20,613 20,711 20,849 20,918 21,008 21,112 21,177 21,255 21,333 21,377 21,362 21,503 18,515 18,581 18,690 18,745 18,803 18,948 18,988 19,025 19,082 19,119 19,065 19,287 94 115 126 136 155 101 122 148 156 151 169 94 2,004 2,015 2,033 2,038 2,049 2,063 2,067 2,083 2,096 2,108 2,128 2,121 1950—-Jan... Feb... Mar.. Apr.. May. June. July.. Aug.. Sept.. Oct... Nov.. Dec. 6,571 6,665 6,776 6,869 6,972 7,093 7,219 7,366 7,520 7,698 7,847 8,039 99 99 104 103 131 118 129 134 126 142 172 127 11,528 11,517 11,565 11,584 11,581 11,573 11,491 11,390 11,217 11,095 10,953 10,877 2,387 2,439 2,443 2,448 2,447 2,434 2,434 2,400 2,384 2,365 2,331 2,356 829 845 857 805 774 831 755 727 794 734 721 792 252 269 261 281 294 245 246 257 288 296 292 255 21,667 21,834 22,006 22,092 22,200 22,293 22,274 22,275 22,330 22,329 22,317 22,446 19,428 19,523 19,670 19,740 19,807 19,939 19,895 19,856 19,884 19,896 19,843 20,025 114 134 150 167 196 144 163 191 201 188 219 137 2,125 2,176 2,185 2,184 2,197 2,210 2,216 2,229 2,244 2,245 2,254 2,283 1951_j an ... Feb.. Mar.. Ap Apr.. May. June. 8,175 8,283 8,428 8,585 8,761 8,914 117 121 130 129 149 128 10,858 10,748 10,490 10,390 10,307 10,222 2,355 2,370 2,388 2,438 2,458 2,499 707 713 874 840 793 851 278 296 295 299 314 279 22,491 22,531 22,605 22,680 22,781 22,892 20,048 20,049 20,105 20,162 20,234 20,400 153 182 187 207 232 169 2,291 2,300 2,313 2,311 2,315 2,323 174 82 1,855 1,966 1,986 2,005 1,974 2,002 71 1,894 26. MUTUAL SAVINGS BANKS: ASSETS AND LIABILITIES, 1945-63 — Continued [In millions of dollars] Securities Loans Total assets— Total liabilities & general reserve accounts Deposits Cash Other assets 2,528 2,543 2,556 2,591 2,597 140 2,490 813 780 795 785 753 883 288 300 314 306 323 288 22,978 23,080 23,184 23,233 23,265 23,504 20,457 20,522 20,606 20,667 20,654 20,900 191 217 219 201 234 153 2,329 2,341 2,359 2,364 2,377 2,450 205 210 247 248 254 243 268 274 278 296 297 335 2,498 2,551 2,603 2,681 2,735 2,774 2,821 2,845 2,866 2,913 2,905 2,925 830 853 845 827 816 965 754 23,633 23,787 23,984 24,128 24,306 24,460 24,592 24,735 24,925 24,996 25,052 25,301 21,027 21,137 21,318 21,435 21,572 21,772 21,877 21,985 22,170 22,261 22,268 22,610 160 197 191 214 247 192 217 247 245 219 262 164 2,447 2,453 2,475 2,478 2,487 2,496 2,498 2,502 2,510 2,516 2,521 2,527 9,507 9,533 9,537 9,526 9,547 9,479 9,494 9,498 9,435 9,332 9,289 9,191 341 406 411 369 377 394 397 406 412 419 425 428 2,980 3,038 3,060 3,110 3,145 3,199 3,247 3,261 3,293 3,297 3,277 3,311 848 816 800 917 882 847 872 843 787 867 805 798 841 878 812 983 302 311 314 314 327 312 308 317 324 321 332 304 318 334 346 367 374 344 361 366 372 378 383 330 25,523 25,741 25,902 26,074 26,232 26,402 26,552 26,691 26,846 26,936 26,968 27,199 22,803 22,917 23,116 23,269 23,385 23,620 23,731 23,819 23,977 24,077 24,060 24,388 192 290 228 256 294 224 253 292 273 263 298 203 2,528 2,534 2,557 2,549 2,552 2,559 2,568 2,579 2,596 2,596 2,611 2,608 155 160 169 168 210 198 181 185 191 179 198 188 9,199 9,196 9,161 9,119 9,123 9,030 8,935 8,926 8,885 8,857 8,757 8,755 446 459 470 499 531 535 556 564 570 581 591 608 3,410 3,445 3,484 3,501 3,516 3,552 3,599 3,616 3,625 3,612 3,572 3,548 953 957 1,004 942 878 987 974 941 949 909 920 1,026 356 369 372 375 390 367 369 388 398 377 392 380 27,434 27,609 27,856 27,995 28,217 28,397 28,515 28,709 28,889 28,956 29,049 29,350 24,577 24,694 24,928 25,040 25,205 25,438 25,534 25,644 25,838 25,939 25,970 26,351 234 280 273 296 337 277 304 354 327 293 339 261 2,623 2,635 2,655 2,659 2,675 2,682 2,677 2,711 2,725 2,724 2,739 2,738 15,009 15,174 15,395 15,579 15,771 15,999 16,213 16,437 16,669 16,890 17,067 17,279 181 187 196 182 206 204 182 193 207 196 218 211 8,785 8,793 8,799 8,754 8,740 8,685 8,719 8,712 8,667 8,556 8,483 8,463 639 646 659 657 662 663 682 679 659 654 642 646 3,559 3,567 3,574 3,558 3,520 3,512 3,480 3,440 3,417 3,407 3,372 3,364 1,028 985 984 937 953 989 924 927 917 891 885 966 394 408 414 404 410 409 408 408 418 413 427 416 29,595 29,761 30,021 30,071 30,262 30,461 30,607 30,796 30,954 31,008 31,095 31,346 26,546 26,651 26,917 26,961 27,086 27,329 27,427 27,537 27,718 27,803 27,830 28,182 299 342 322 339 385 335 372 427 381 378 405 310 2,750 2,768 2,782 2,771 2,791 2,797 2,809 2,833 2,854 2,827 2,860 2,854 1956—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec.. 17,471 17,661 17,866 18,049 18,243 18,429 18,627 18,854 19,040 19,245 19,420 19,559 182 189 214 215 263 250 220 231 245 238 276 248 8,485 8,477 8,485 8,433 8,391 3,315 8,309 8,262 8,225 8,078 8,000 7,982 671 673 689 686 681 678 680 681 677 672 673 676 3,377 3,412 3,415 3,417 3,436 3,476 3,509 3,511 3,525 3,538 3,530 3,548 914 900 887 832 829 914 851 832 832 799 111 920 425 435 444 446 460 440 446 451 462 455 469 448 31,525 31,747 31,998 32,077 32,303 32,503 32,642 32,823 33,006 33,024 33,146 33,381 28,321 28,456 28,694 28,739 28,900 29,185 29,261 29,363 29,522 29,584 29,634 30,026 346 403 399 430 472 387 440 495 504 463 511 369 2,859 2,888 2,905 2,909 2,930 2,930 2,941 2,965 2,981 2,977 3,002 2,986 1957_j an .. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec.. 19,695 19,787 19,914 20,035 20,162 20,280 20,402 20,513 20,616 20,740 20,840 20,971 232 251 277 262 313 282 249 268 274 243 261 253 8,003 8,023 8,041 7,965 7,946 7,874 7,867 7,878 7,861 7,725 7,589 7,583 682 683 683 685 687 686 693 690 692 689 692 685 3,616 3,670 3,753 3,816 3,878 3,950 4,013 4,073 4,128 4,188 4,285 4,344 831 831 844 788 800 871 798 757 783 759 765 889 459 468 473 468 480 472 476 485 497 486 507 490 33,518 33,713 33,986 34,019 34,265 34,415 34,497 34,663 34,851 34,831 34,939 35,215 30,112 30,224 30,461 30,468 30,637 30,902 30,918 31,008 31,214 31,248 31,284 31,684 405 462 483 507 563 461 510 567 532 488 536 427 3,002 3,027 3,042 3,044 3,065 3,052 3,069 3,089 3,105 3,095 3,119 3,105 Mortgage Other U.S. Govt. 1951—July. Aug. Sept. Oct.. Nov. Dec. 9,059 9,208 9,321 9,459 9,592 9,747 129 126 126 133 154 129 10,161 10,122 10,073 9,959 9,847 9,827 1952—Jan.. Feb.. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 9,843 9,929 10,045 10,165 10,273 10,405 10,543 10,665 10,790 10,962 11,075 11,231 115 123 124 124 144 134 125 128 133 131 158 144 9,840 9,809 9,807 9,770 9,756 9,626 9,774 9,729 9,687 9,558 9,484 9,443 1953—Jan.. Feb.. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 11,344 11,446 11,530 11,709 11,830 11,961 12,100 12,208 12,334 12,474 12,608 12,792 151 136 146 151 172 158 148 154 160 158 175 165 1954—Jan.. Feb.. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 12,915 13,022 13,197 13,391 13,570 13,729 13,902 14,088 14,271 14,440 14,618 14,845 1955—Jan.. Feb.. Mar. Apr., May, June. July. Aug. Sept. Oct.. Nov. Dec. State and local govt. 175 m Other liabilities General reserve accounts Corporate and other End of month 26. MUTUAL SAVINGS BANKS: ASSETS AND LIABILITIES, 1945-63 — Continued [In millions of dollars] Loans Securities End of month Cash Other assets Total assets— General Total reserve liabilities Deposits Other & general liabilities accounts reserve accounts Mortgage Other U. S. Govt. State and local govt. Corporate and other May June July. Aug. Sept. Oct.. Nov. Dec. 21,101 21,200 21,366 21,519 21,714 21,958 22,152 22,348 22,530 22,725 22,876 23,038 270 277 277 258 286 268 243 267 287 258 280 320 7,583 7,562 7,603 7,518 7,456. 7,419 7,430 7,449 7,422 7,330 7,298 7,270 708 712 717 722 703 725 734 736 738 735 734 729 4,503 4,590 4,676 4,773 4,893 4,881 4,914 4,923 4,957 4,951 4,950 4,971 829 892 928 881 876 925 858 853 871 863 825 921 498 511 520 511 521 540 537 542 551 533 555 535 35,493 35,744 36,087 36,181 36,450 36,716 36,868 37,119 37,356 37,396 37,519 37,784 31,917 32,066 32,402 32,495 32,676 32,982 33,070 33,213 33,480 33,575 33,617 34,031 463 542 523 543 604 553 600 675 624 581 634 526 3,113 3,137 3,162 3,143 3,169 3,181 3,198 3,230 3,251 3,239 3,267 3,227 1959—Jan.. Feb.. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 23,107 23,232 23,407 23,562 23,723 23,879 24,058 24,214 24,374 24,511 24,635 24,769 212 239 256 242 278 318 305 339 356 327 366 358 7,324 7,364 7,427 7,383 7,395 7,301 7,288 7,276 7,244 6,963 6,878 6,871 728 724 763 729 740 747 751 750 758 738 730 721 4,931 4,937 4,908 4,967 4,947 4,966 4,918 4,931 4,929 4,874 4,845 4,845 803 821 866 752 760 803 724 727 725 698 718 829 533 538 559 541 550 547 549 547 562 553 556 552 37,639 37,855 38,185 38,175 38,392 38,560 38,592 38,784 38,947 38,664 38,729 38,945 33,860 33,974 34,287 34,293 34,413 34,624 34,570 34,650 34,847 34,660 34,633 34,977 571 641 629 630 699 643 711 799 730 665 723 606 3,208 3,240 3,269 3,252 3,280 3,294 3,312 3,336 3,370 3,339 3,372 3,362 I960—Jan.. Feb.. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 24,928 25,044 25,194 25,323 25,484 25,653 25,812 26,018 26,214 26,381 26,553 26,702 333 372 412 386 446 396 435 449 435 417 425 416 6,862 6,851 6,883 6,734 6,655 6,562 6,514 6,544 6,512 6,356 6,288 6,243 715 706 709 722 699 695 691 686 687 681 676 672 4,833 4,824 4,875 4,857 4,871 4,926 4,965 4,957 4,989 4,985 5,019 5,076 698 735 776 690 732 840 771 765 787 779 788 874 565 569 570 574 578 569 572 564 592 585 590 589 38,934 39,101 39,420 39,288 39,464 39,642 39,760 39,983 40,216 40,185 40,339 40,571 34,909 34,959 35,279 35,184 35,242 35,463 35,484 35,589 35,867 35,923 35,961 36,343 660 742 722 713 799 720 795 878 806 740 810 678 3,364 3,400 3,419 3,391 3,423 3,459 3,480 3,515 3,543 3,522 3,567 3,550 1961—Jan.. Feb.. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 26,863 27,003 27,207 27,383 27,570 27,771 27,972 28,179 28,335 28,513 28,680 28,902 412 427 453 401 449 417 385 431 455 420 469 475 6,349 6,449 6,566 6,350 6,337 6,296 6,314 6,320 6,305 6,185 6,172 6,160 667 667 666 664 665 687 685 686 687 682 677 677 5,079 5,064 5,110 5,099 5,126 5,158 5,160 5,137 5,118 5,062 5,042 5,040 825 846 855 804 834 861 835 821 867 840 847 937 610 621 624 625 607 616 620 629 654 645 642 640 40,804 41,076 41,480 41,326 41,588 41,806 41,970 42,202 42,422 42,348 42,529 42,829 36,513 36,649 37,000 36,946 37,060 37,427 37,450 37,549 37,859 37,844 37,892 38,277 728 3,563 3,606 3,630 3,599 3,645 3,659 3,668 3,718 3,739 3,716 3,779 3,771 1962—Jan.. Feb.. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 29,145 29,333 29,563 29,833 30,087 30,399 30,688 31,000 31,243 31,548 31,820 32,056 455 461 508 468 537 519 506 549 563 536 586 602 6,245 6;322 6,531 6,315 6,331 6,296 6,285 6,311 6,314 6,152 6,133 6,107 669 651 633 606 587 582 577 568 563 548 540 527 5,064 5,065 5,090 5,055 5,057 5,069 5,135 5,159 5,151 5,154 5,183 5,177 837 884 896 818 829 883 837 808 852 867 832 956 655 661 676 671 670 675 678 677 702 697 683 695 43,071 43,378 43,897 43,766 44,100 44,421 44,706 45,073 45,388 45,502 45,776 46,121 38,446 38,611 39,083 39,032 39,216 39,642 39,814 40,029 40,458 40,644 40,791 41,336 1963—Jan.. Feb.. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec.. 32,492 32,812 33,125 33,452 33,809 34,075 34,389 34,690 34,964 35,333 35,654 36,007 575 583 611 568 614 588 583 662 667 637 659 607 6,143 6,172 6,432 6,191 6,166 6,189 6,170 6,137 6,076 5,899 5,885 5,863 512 501 475 470 462 458 455 455 453 451 448 440 5,176 5,166 5,157 5,085 5,080 5,090 5,107 5,132 5,171 5,149 5,073 5,074 819 870 891 830 852 890 828 809 848 819 811 912 735 722 743 728 734 737 750 741 775 765 781 799 46,451 46,826 47,436 47,325 47,717 48,028 48,282 48,626 48,955 49,052 49,312 49,702 41,565 41,780 42,306 42,318 42,549 42,972 43,109 43,282 43,712 43,910 44,028 44,606 1958—Jan.. Feb.. Mar. 176 . 821 850 781 883 720 852 935 823 788 857 781 845 944 973 923 1,016 921 1,022 1,127 996 955 1,025 828 932 1,052 1,106 1,034 1,148 1,023 1,138 1,248 1,124 1,049 1,141 943 3,780 3,823 3,840 3,811 3,868 3,859 3,870 3,916 3,934 3,904 3,960 3,957 3,955 3,993 4,023 3,973 4,019 4,033 4,035 4,096 4,118 4,093 4,143 4,153 27. SAVINGS AND LOAN ASSOCIATIONS: ASSETS AND LIABILITIES, 1945-63 [In millions of dollars] Liabilities Assets End of period Mortgages U. S. Goyt. securities Cash Other Total assets— Total liabilities Savings capital Reserves Borrowed and undivided money profits Loans in process Other 1945 1946 1947 1948 1949 5,376 7,141 8,856 10,305 11,616 2,420 2,009 1,740 1,455 1,462 450 536 560 663 880 356 381 416 501 566 8,747 10,202 11,687 13,028 14,622 7,365 8,548 9,753 10,964 12,471 644 751 855 969 1,106 336 402 542 590 499 402 501 537 505 546 1950 1951 1952 1953 1954 13,657 15,564 18,396 21,962 26,108 1,487 1,603 1,787 1,920 2,013 924 1,066 1,289 1,479 1,971 733 899 1,108 1,297 1,469 16,893 19,222 22,660 26,733 31,633 13,992 16,107 19,195 22,846 27,252 1,280 1,453 1,658 1,901 2,187 900 894 944 1,027 950 721 768 863 959 789 455 1955 1956 1957 1958 1959 31,408 35,729 40,007 45,627 53,141 2,338 2,782 3,173 3,819 4,477 2,063 2,119 2,146 2,585 2,183 1,789 2,199 2,770 3,108 3,729 37,656 42,875 48,138 55,139 63,530 32,142 37,148 41,912 47,976 54,583 2,557 2,950 3,363 3,845 4,393 1,546 1,347 1,379 1,444 2,387 912 887 856 1,161 1,293 499 543 628 713 874 1960 1961 1962 1963 60,070 68,834 78,770 90,944 4,595 5,211 5,563 6,445 2,680 3,315 3,926 3,979 4,131 4,775 5,346 6,191 71,476 82,135 93,605 107,559 62,142 70,885 80,236 91,308 4,983 5,708 6,520 7,209 2,197 2,856 3,629 5,015 1,186 1,550 1,999 2,528 968 1,136 1,221 1,499 1950—Mar. June Sept. Dec. 12,014 12,694 13,293 13,657 1,497 1,506 1,489 1,487 885 913 727 924 597 672 689 733 15,090 15,880 16,291 16,893 12,925 13,422 13,418 13,992 1,190 315 437 694 900 1951—Mar. June Sept. Dec. 13,999 14,539 15,058 15,564 1,547 1,558 1,577 1,603 844 940 852 1,066 751 849 852 899 17,232 17,977 18,429 19,222 14,286 14,910 15,317 16,107 1952—Mar. June Sept. Dec. 16,057 16,875 17,696 18,396 1,690 1,687 1,765 1,787 1,080 1,182 1,044 1,289 918 996 ,011 ,108 19,832 20,825 21,598 22,660 16,811 17,656 18,198 19,195 1953—Mar. June Sept. Dec. 19,051 20,099 21,116 21,962 1,926 1,997 1,982 1,920 1,259 1,333 ,196 ,479 ,128 ,218 ,212 ,297 23,442 24,724 25,582 26,733 20,072 21,140 21,735 22,846 1954_Mar. June Sept. Dec. 22,698 23,798 24,982 26,108 1,925 1,956 1,966 2,013 ,615 ,790 ,677 ,971 ,327 ,427 ,369 ,469 27,639 29,045 30,067 31,633 23,893 25,128 25,824 27,252 1955—Jan.. Feb.. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec. 26,413 26,750 27,288 27,824 28,379 28,993 29,529 30,116 30,595 30,935 31,185 31,408 2,087 2,154 2,192 2,223 2,249 2,269 2,327 2,343 2,323 2,321 2,334 2,338 ,959 ,966 ,917 ,828 ,833 ,959 ,715 ,651 ,610 ,726 ,793 2,063 ,441 ,455 ,497 ,548 ,639 ,651 ,579 ,615 ,636 ,685 ,779 ,789 31,970 32,394 32,962 33,490 34,166 34,937 35,214 35,787 36,225 36,727 37,150 37,656 27,716 28,041 28,399 28,717 29,137 29,855 29,979 30,276 30,547 30,965 31,355 32,142 1956—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 31,675 31,971 32,368 32,776 33,212 33,652 34,066 34,513 34,867 35,223 35,497 35,729 2,452 2,525 2,582 2,637 2,680 2,646 2,680 2,719 2,732 2,746 2,771 2,782 2,019 2,015 1,968 1,906 1,918 2,040 1,862 1,766 1,723 1,759 1,817 2,119 ,764 ,820 ,864 ,952 2,079 2,091 2,008 2,017 • 2,071 2,139 2,220 2,199 37,967 38,387 38,837 39,325 39,942 40,481 40,667 41,065 41,442 41,915 42,352 42,875 32,605 32,951 33,298 33,617 34,079 34,848 34,990 35,277 35,544 35,949 36,326 37,148 1957_jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 35,950 36,209 36,567 36,967 37,413 37,834 38,241 38,701 39,058 39,475 39,753 40,007 2,925 3,040 3,129 3,155 3,169 3,129 3,170 3,194 3,220 3,215 3,238 3,173 1,948 1,908 1,884 1,835 1,874 2,059 1,739 1,636 1,647 1,629 1,715 2,146 2,179 2,235 2,321 2,436 2,576 2,607 2,513 2,572 2,628 2,715 2,775 2,770 43,047 43,437 43,945 44,437 45,076 45,673 45,707 46,147 46,597 47,077 47,524 48,138 37,485 37,793 38,145 38,453 38,905 39,726 39,674 39,926 40,250 40,611 40,989 41,912 177 T,280" 1,360 T,453" 1,540 i,658* 1,780 T,90i" 2,028 '2',i87* 2,349 2,557 2,741 2,950 3,130 3,363 831 746 811 742 894 '" 768 ' 584 648 711 944 '' 863 " 606 714 797 1,027 896 ' ' 98Y 1,090" 959 692 746 761 950 571 713 787 789 784 752 762 822 894 ,102 ,164 ,292 ,403 ,476 ,494 ,546 777 808 918 ,000 ,073 ,133 ,148 ,187 ,137 ,070 987 912 ,358 ,283 ,232 ,227 ,225 ,279 ,220 ,236 ,264 ,266 ,266 ,347 879 913 972 ,035 ,067 ,079 ,077 ,061 ,031 989 925 887 ,136 ,067 ,048 ,059 ,080 ,181 ,144 ,181 ,228 1,244 1,254 1,379 847 861 912 955 996 1,024 1,032 1,025 430 455 498 499 534 543 612 1,000 988 906 856 628 27. SAVINGS AND LOAN ASSOCIATIONS: ASSETS AND LIABILITIES, 1945-63 — Continued [In millions of dollars] Liabilities Assets Cash Other Total assets— Total liabilities 2,028 2,201 2,413 2,532 2,574 2,752 2,462 2,392 2,315 2,208 2,250 2,585 2 780 2,793 2 797 2,899 2 998 2,955 2,865 2 877 2,922 3 059 3 161 3,108 48 272 48,679 49 233 49,894 50 575 51,364 51,580 52 196 52,888 53 627 54,292 55,139 42 365 42,741 43 229 43,591 44 102 45,037 45,110 45 470 45,917 46 424 46,904 47,976 3,558 1,035 3,845 1,049 1,133 1,191 1,232 1,444 1,050 1,091 1,109 1,155 [,176 1,164 1,161 2,288 2,261 2,260 2,080 2,107 2,345 ,914 ,872 1,820 ,751 1,812 2,183 3,069 3,152 3,251 3,402 3,588 3,603 3,489 3,503 3,570 3,656 3,793 3,729 55,498 56,080 56,849 57,635 58,625 59,708 60,075 60,810 61,494 62,147 62,781 63,530 48,422 48,827 49,354 49,768 50,367 51,456 51,657 52,051 52,498 52,894 53,378 54,583 3,855 3,863 3,864 3,870 3,879 4,094 4,102 4,113 4,120 4,128 4,138 4,393 1,264 1,210 1,202 1,299 1,361 [,675 1,706 ,825 1,973 2,109 2,165 2,387 [,123 1,163 1,276 1,373 1,466 1,578 [,588 1,583 1,541 1,482 1,382 1,293 ,868 1,834 1,883 1,857 ,938 2,258 2,025 2,055 2,080 2,182 2,265 2,680 3,617 3,681 3,785 3,893 4,103 4,053 3,905 3,899 3,949 3;948 4,181 4,131 63,623 64,118 64,786 65,432 66,376 67,265 67,497 68,220 68,956 69,769 70,546 71,476 55,050 55,456 56,086 56,456 57,078 58,298 58,455 58,941 59,545 60,211 60,763 62,142 4,403 4,413 4,421 4,428 4,435 4,647 4,641 4,644 4,648 4,651 4,662 4,983 ,936 1,813 ,688 ,727 ,731 ,941 ,817 ,839 ,888 1,874 1,926 2,197 1,198 1,186 1,233 1,277 ,331 ,378 ,372 1,357 ,318 1,284 1,212 1,186 1,036 1,250 1,358 1,544 1,801 1,001 1,212 1,439 1,557 1,749 1,983 2,589 2,649 2,655 2,680 2,829 2,958 2,742 2,661 2,712 >,794 >,878 5,315 4,028 4,097 4,220 4,335 4,558 4,496 4,352 4,436 4,518 4,625 4,828 4,775 71,741 72,495 73,425 74,244 75,431 76,501 76,873 77,856 78,796 79,839 80,962 82,135 62,736 63,292 64,000 64,419 65,221 66,577 66,701 67,208 67,887 68,611 69,390 70,885 4,981 4,987 4,995 5,007 5,010 5,284 5,280 5,282 5,289 5,290 5,296 5,708 1,732 1,652 1,626 1,716 1,757 2,027 2,027 2,159 2,287 2,362 2,441 2,856 ,119 ,133 ,231 ,325 ,416 ,536 ,552 ,593 ,588 ,578 ,559 ,550 1,173 1,431 1,573 1,777 2,027 1,077 1,313 1,614 1,745 1,998 2,276 1,136 2,961 $,057 4,670 4,709 4,804 4,897 5,298 5,236 5,058 5,158 5,241 5,281 5,445 5,346 82,376 83,198 84,240 85,043 86,408 87,546 87,910 88,968 90,004 91,116 92,216 93,605 71,379 71,944 72,862 73,236 73,997 75,392 75,417 76,052 76,909 77,724 78,581 80,236 5,732 5,734 5,735 5,734 5,735 6,014 6,019 6,021 6,035 6,058 6,070 6,520 2,475 2,377 2,296 2,421 2,519 2,883 2,972 3,063 3,159 3,195 3,172 3,629 5,237 5,284 5,403 5,491 5,883 5,855 5,708 5,860 5,904 5,991 6,170 6,191 94,021 95,049 96,347 97,411 98,940 100,470 101,076 102,373 103,670 105,030 106,186 107,559 81,219 82,070 83,272 83,764 84,748 86,379 86,368 87,032 87,963 88,774 89,588 91,308 6,553 6,573 6,571 6,585 6,600 6,802 6,813 6,831 6,835 6,843 6,860 7,209 2,895 2,700 2,604 2,729> 2,843 3,436 3,693 "3,915 4,212 4,417 4,468 5,015 ,494 ,542 ,653 ,784 ,897 ,969 ,995 ,983 ,991 1,979 1,932 1,999 1,931 1,956 2,098 2,255 2,355 2,462 2,489 2,496 2,542 2,582 2,510 1 ,528 1,296 1,601 1,694 1,868 2,260 1,288 1,507 1,849 1,910 2,160 2,461 1,221 1,423 1,750 1,802 2,078 2,394 1,391 1,713 2,099 2,118 2,414 2,760 1,499 End of month Mortgages U. S. Govt. securities 1958—Jan.. Feb.. Mar. Apr.. May, June, July. Aug. Sept. Oct.. Nov. Dec. 40,246 40,486 40,824 41,227 41,755 42,328 42,882 43,446 44,024 44,629 45,099 45,627 3 218 3,199 3,199 3,236 3 248 3,329 3,371 3 481 3,627 3 731 3,782 3,819 1959—Jan.. v Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 46,039 46,469 47,065 47,775 48,531 49,364 50,168 50,908 51,584 52,210 52,674 53,141 4,102 4,198 4,273 4,378 4,399 4,396 4,504 4,527 4,520 4,530 4,502 4,477 I960—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 53,462 53,862 54,403 54,967 55,602 56,364 57,009 57,731 58,387 58,989 59,504 60,070 4,676 4,741 4,715 4,715 4,733 4,590 4,558 4,535 4,540 4,650 4,596 4,595 1961—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 60,437 60,874 61,569 62,265 63,081 64,056 64,797 65,712 66,521 67,332 68,089 68,834 4,687 4,875 4,981 4,964 4,963 4,991 4,982 5,047 5,045 5,088 5,167 5,211 1962—Jan.. Feb.. Mar.. Apr.. May. June. July. Aug. Sept., Oct.. Nov., Dec. 69,352 69,944 70,728 71,558 72,520 73,526 74,406 75,409 76,238 77,182 77,972 78,770 5,393 5,488 5,523 5,480 5,472 5,408 5,454 5,446 5,488 5,523 5,569 5,563 1963—Jan.. Feb.. Mar., Apr.. May. June. July. Aug., Sept., Oct.. Nov.. Dec. 79,440 80,143 81,055 82,128 83,320 84,554 85,681 86,909 88,020 89,151 89,967 90,944 5,751 5,922 6,100 6,136 6,115 6,203 6,274 6,237 6,349 6,423 6,551 6,445 • \ • : A A A A A * A A A A A A 'A 'A \ 'A \ A 'A A 'A 'A - ' 2 $,185 2 $,108 2 $,118 '$,376 2,992 2,955 2 5,037 2 $,130 2 $,230 -$,926 : ,593 2 ,700 2 $,789 2 $,656 2 ,622 2 ,858 2 ,413 2 ,367 ,397 3,465 3,498 3,979 178 Savings capital Reserves and undivided profits Borrowed money 1,004 876 787 899 870 998 Loans in process Other 806 811 864 926 979 684 713 834 1,017 1,153 1,325 1,552 905 1,022 1,238 1,362 1,534 1,718 874 968 28. LIFE INSURANCE COMPANIES: ASSETS AND LIABILITIES, 1945-63 [In millions of dollars] Government securities End of period Total assets Total Statement value: 1945 1946 1947 1948 1949 United States Business securities Mortgages State and local Foreign Total Bonds Real estate Policy loans Stocks Other assets 44,797 48,191 51,743 55,512 59,630 22,545 23,575 22,048 19,135 17,868 20,583 21,629 20,021 16,746 15,290 722 614 609 872 1,052 1,240 1,332 1,418 1,517 1,526 11,059 13,024 16,099 20,272 23,124 10,060 11,775 14,709 18,844 21,406 999 1,249 1,390 1,428 1,718 6,636 7,155 8,675 10,833 12,906 857 735 860 1,055 1,247 1,962 1,894 1,937 2,057 2,240 1,738 1,808 2,124 2,160 2,245 1950. 1951. 1952. 1953. 1954. 64,020 68,278 73,375 78,533 84,486 16,118 13,760 12,905 12,537 12,262 13,459 11,009 10,252 9,829 9,070 1,152 1,170 1,153 1,298 1,846 1,507 1,581 1,500 1,410 1,346 25,351 28,111 31,515 34,438 37,300 23,248 25,890 29,069 31,865 34,032 2,103 2,221 2,446 2,573 3,268 16,102 19,314 21,251 23,322 25,976 1,445 1,631 1,903 2,020 2,298 2,413 2,590 2,713 2,914 3,127 2,591 2,872 3,088 3,302 3,523 1955.. 1956.. 1957.. 1958.. 1959*. 90,432 96,011 101,309 107,580 113,650 11,829 11,023 10,690 11,234 11,581 8,576 7,555 7,029 7,183 6,868 2,038 2,273 2,376 2,681 3,200 1,215 1,195 1,285 1,370 1,513 39,545 41,587 44,057 47,108 49,666 35,912 38,084 40,666 42,999 45,105 3,633 3,503 3,391 4,109 4,561 29,445 32,989 35,236 37,062 39,197 2,581 2,817 3,119 3,364 3,651 3,290 3,519 3,869 4,188 4,618 3,742 4,076 4,338 4,624 4,937 1960. 1961. 1962. 1963. 119,576 126,816 133,291 141,121 11,679 11,896 12,448 12,438 6,427 6,134 6.170 5,813 3,588 3,888 4,026 3,852 1,664 1,874 2,252 2,773 51,857 55,294 57,576 60,780 46,876 49,036 51,274 53,645 4,981 6,258 6,302 7,135 41,771 44,203 46,902 50,544 3,765 4,007 4,107 4,319 5,231 5,733 6,234 6,655 5,273 5,683 6,024 6,385 Book value: 1947—Jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec, 48,234 48,546 48,893 49,111 49,339 49,705 49,998 50,213 50,569 50,833 51,049 51,537 23,385 23,434 23,123 23,162 23,139 22,934 22,850 22,730 22,493 22,460 22,265 21,775 21,501 21,546 21,199 21,233 21,219 21,014 20,895 20,776 20,532 20,517 20,305 19,826 597 599 606 614 622 622 621 620 624 611 618 614 1,287 1,289 1,318 1,315 1,298 1,298 1,334 1,334 1,337 1,332 1,342 1,335 13,086 13,273 13,387 13,758 13,968 14,355 14,683 14,796 15,067 15,299 15,634 16,174 11,935 12,108 12,200 12,535 12,700 13,053 13,351 13,462 13,707 13,945 14,264 14,801 1,151 1,165 1,187 1,223 1,268 1,302 1,332 1,334 1,360 1,354 1,370 1,373 7,160 7,272 7,364 7,439 7,552 7,682 7,829 7,943 8,065 8,208 8,345 8,556 744 740 736 751 757 760 768 788 795 810 819 838 1,865 1,866 1,873 1,875 1,881 1,887 1,891 1,899 1,908 1,917 1,913 1,917 1,994 1,961 2,410 2,126 2,042 2,087 1,977 2,057 2,241 2,139 2,073 2,277 1948—Jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. 52,003 52,238 52,584 52,866 53,122 53,457 53,774 54,041 54,358 54,628 54,892 55,383 21,734 21,491 21,355 21,093 20,918 20,681 20,428 20,202 19,943 19,521 19,286 19,050 19,731 19,498 19,341 19,068 18,889 18,658 18,361 17,923 17,642 17,198 16,947 16,679 601 611 627 638 644 659 706 771 792 819 841 864 1,402" 1,382 1,387 1,387 1,385 1,364 1,361 1,508 1,509 1,504 1,498 1,507 16,382 16,830 17,247 17,644 17,888 18,197 18,557 18,751 18,981 19,584 19,865 20,354 14,989 15,414 15,828 16,219 16,464 16,753 17,101 17,292 17,527 18,127 18,403 18,889 1,393 1,416 1,419 1,425 1,424 1,444 1,456 1,459 1,454 1,457 1,462 1,465 8,839 8,994 9,169 9,347 9,514 9,701 9,886 10,087 10,241 10,436 10,627 10,861 881 888 903 941 944 963 981 999 1,015 1,026 1,033 1,054 1,935 1,942 1,954 1,966 1,978 1,982 1,999 2,011 2,023 2,035 2,046 2,057 2,232 2,093 1,956 1,875 1,880 1,933 1,923 1,991 2,155 2,026 2,035 2,007 1949_Jan.. Feb.. Mar.. Apr.. May. June. July., Aug.. Sept.. Oct.. Nov.. Dec. 55,746 55,984 56,309 56,589 56,872 57,233 57,503 57,768 58,082 58,407 58,699 59,280 19,007 18,937 18,803 18,592 18,361 18,140 17,915 17,781 17,755 17,684 17,569 17,717 16,631 16,564 16,405 16,196 15,962 15,748 15,517 15,379 15,283 15,183 15,075 15,192 870 872 887 885 895 907 912 915 938 988 ,000 ,022 1,506 1,501 1,511 1,511 1,504 1,485 1,486 1,487 1,534 1,513 1,494 1,503 20,451 20,640 20,854 21,218 21,467 21,934 22,332 22,433 22,541 22,715 22,923 23,043 18,992 19,181 19,369 19,728 19,937 20,378 20,762 20,862 20,957 21,108 21,300 21,390 1,459 1,459 1,485 1,490 1,530 1,556 1,570 1,571 1,584 1,607 1,623 1,653 11,007 11,158 11,338 11,513 11,670 11,847 12,004 12,176 12,344 12,504 12,679 12,892 1,071 1,097 1,105 1,120 1,133 1,157 1,173 1,176 1,189 1,209 1,223 1,236 2,071 2,081 2,099 2,110 2,124 2,141 2,156 2,173 2,188 2,202 2,213 2,227 2,139 2,071 2,110 2,036 2,117 2,014 1,923 2,029 2,065 2,093 2,092 2,165 1950—Jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. 59,786 60,076 60,383 60,662 60,976 61,354 61,681 61,992 62,370 62,706 63,022 63,687 17,759 17,721 17,709 17,662 17,460 17,236 17,211 17,003 16,871 16,500 16,210 15,985 15,215 15,182 15,152 15,102 14,907 14,698 14,671 14,425 14,246 13,892 13,591 13,361 ,044 ,051 ,078 ,080 ,078 ,094 ,101 ,128 ,124 ,122 ,139 ,128 1,500 1,488 1,479 1,480 1,475 1,444 1,439 1,450 1,501 1,486 1,480 1,496 23,086 23,309 23,451 23,551 23,727 23,968 24,097 24,255 24,411 24,532 24,841 25,157 21,407 21,599 21,715 21,787 21,911 22,122 22,212 22,357 22,506 22,653 22,889 23,179 1,679 1,710 1,736 1,764 1,816 1,846 1,885 1,898 1,905 1,879 1,952 1,978 13,071 13,224 13,438 13,643 13,877 14,144 14,402 14,691 14,978 15,302 15,649 16,101 1,248 1,260 1,271 1,279 1,298 1,316 1,346 1,356 1,373 1,393 1,408 1,428 2,242 2,255 2,269 2,280 2,293 2,307 2,323 2,341 2,358 2,371 2,382 2,397 2,380 2,307 2,245 2,247 2,321 2,383 2,302 2,346 2,379 2,608 2,532 2,619 1951—Jan.. Feb.. Mar.. Apr.. May. June. 64,296 64,539 64,822 65,156 65,496 65,727 15,889 15,722 15,295 14,931 14,803 14,518 13,243 13,083 12,630 12,253 12,109 11,793 ,160 ,154 ,161 ,143 ,143 ,147 1,486 1,485 1,504 1,535 1,551 1,578 25,262 25,394 25,645 25,956 26,204 26,521 23,289 23,412 23,649 23,955 24,184 24,504 1,973 1,982 1,996 2,001 2,020 2,017 16,458 16,765 17,120 17,422 17,752 18,046 1,449 1,461 1,471 1,483 1,490 1,499 2,427 2,440 2,461 2,478 2,496 2,510 2,811 2,757 2,830 2,886 2,751 2,633 179 28. LIFE INSURANCE COMPANIES: ASSETS AND LIABILITES, 1945-63 — Continued [Book value, in millions of dollars] Government securities End of month Total assets Total United States Business securities State and local Foreign Mortgages Total Bonds Real estate Policy loans Stocks Other assets 1951—July. Aug. Sept. Oct.. Nov. Dec. 66,128 66,455 66,777 67,181 67,476 67,983 14,438 14,184 14,103 14,033 13,855 13,672 11,730 11,471 11,355 11,254 11,122 10,958 1,140 1,150 1,165 1,171 1,159 1,142 1,568 1,563 1,583 1,608 1,574 1,572 26,709 26,968 27,142 27,371 27,544 27,949 24,685 24,929 25,088 25,307 25,455 25,882 2,024 2,039 2,054 2,064 2,089 2,067 18,290 18,549 18,714 18,928 19,099 19,291 1,517 1,540 1,555 1,578 1,590 1,617 2,523 2,536 2,546 2,563 2,565 2,575 2,651 2,678 2,717 2,708 2,823 2,879 1952—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 68,554 68,907 69,250 69,604 69,959 70,334 70,774 71,123 71,578 72,034 72,415 73,034 13,623 13,564 13,448 13,402 13,138 12,972 13,015 13,020 13,051 12,858 12,908 12,814 10,893 10,841 10,765 10,737 10,463 10,309 10,324 10,347 10,399 10,244 10,297 10,195 1,149 1,135 1,105 1,093 1,093 1,095 1,134 1,138 1,136 1,133 1,130 1,126 1,581 1,588 1,578 1,572 1,582 1,568 1,557 1,535 1,516 1,481 1,481 1,493 28,226 28,458 28,807 29,090 29,476 29,776 30,070 30,192 30,353 30,846 31,015 31,286 26,135 26,361 26,689 26,963 27,338 27,626 27,918 28,043 28,193 28,692 28,858 29,095 2,091 2,097 2,118 2,127 2,138 2,150 2,152 2,149 2,160 2,154 2,157 2,191 19,536 19,712 19,870 20,008 20,175 20,335 20,505 20,643 20,801 20,961 21,087 21,245 1,624 1,639 1,656 1,662 1,674 1,693 1,706 1,722 1,736 1,751 1,766 1,868 2,587 2,598 2,612 2,621 2,633 2,646 2,656 2,667 2,683 2,692 2,698 2,699 2,958 2,936 2,857 2,821 2,863 2,912 2,822 2,879 2,954 2,926 2,941 3,122 1953—Jan.. Feb.. Mar. Apr.. May. June. July. Aug., Sept. Oct.. Nov. Dec. 73,621 73,943 74,295 74,686 75,063 75,403 75,855 76,244 76,612 77,121 77,552 78,201 12,990 12,974 12,760 12,796 12,673 12,586 12,559 12,566 12,529 12,526 12,496 12,452 10,329 10,287 10,063 10,089 10,082 10,030 9,991 9,994 9,930 9,913 9,830 9,767 1,150 1,160 1,178 1,189 1,188 1,195 1,212 1,219 1,237 1,247 1,270 1,278 1,511 1,527 1,519 1,518 1,403 1,361 1,356 1,353 1,362 1,366 1,396 1,407 31,562 31,748 32,113 32,342 32,602 32,891 33,117 33,219 33,482 33,756 33,965 34,265 29,343 29,514 29,875 30,087 30,332 30,622 30,847 30,949 31,187 31,454 31,650 31,926 2,219 2,234 2,238 2,255 2,270 2,269 2,270 2,270 2,295 2,302 2,315 2,339 21,396 21,547 21,725 21,897 22,055 22,221 22,429 22,552 22,698 22,842 23,017 23,275 1,880 1,887 1,897 1,918 1,924 1,935 1,943 1,967 1,972 1,990 2,000 1,994 2,718 2,727 2,742 2,756 2,770 2,789 2,808 2,819 2,831 2,851 2,873 2,894 3,075 3,060 3,058 2,977 3,039 2,981 2,999 3,121 3,100 3,156 3,201 3,321 1954—Jan.. Feb.. Mar. May! June. July. Aug.. Sept., Oct.. Nov., Dec. 78,866 79,248 79,637 80,095 80,522 80,952 81,473 81,921 82,364 82,852 83,358 84,068 12,635 12,663 12,583 12,588 12,616 12,460 12,388 12,364 12,261 12,179 12,159 12,199 9,779 9,781 9,661 9,635 9,539 9,343 9,189 9,171 9,086 9,024 8,936 9,021 1,389 1,407 1,446 1,481 1,598 1,641 1,737 1,754 1,777 1,806 1,871 1,833 1,467 1,475 1,476 1,472 1,479 1,476 1,462 1,439 1,398 1,349 1,352 1,345 34,475 34,651 34,886 35,052 35,207 35,517 35,777 35,927 36,161 36,414 36,514 36,695 32,102 32,265 32,468 32,595 32,707 32,984 33,203 33,327 33,550 33,813 33,873 33,985 2,373 2,386 2,418 2,457 2,500 2,533 2,574 2,600 2,611 2,601 2,641 2,710 23,435 23,572 23,769 24,004 24,174 24,384 24,572 24,795 25,035 25,260 25,574 25,928 2,038 2,052 2,065 2,085 2,101 2,128 2,147 2,176 2,205 2,241 2,260 2,275 2,906 2,919 2,947 2,966 2,983 3,002 3,019 3,036 3,049 3,061 3,075 3,087 3,377 3,391 3,387 3,400 3,441 3,461 3,570 3,623 3,653 3,697 3,776 3,884 1955_jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. 84,868 85,262 85,632 86,065 86,519 86,970 87,638 88,087 88,529 89,016 89,495 90,267 12,506 12,479 12,315 12,330 12,261 12,239 12,292 12,369 12,325 12,236 12,096 11,757 9,230 9,239 9,091 9,105 9,058 9,046 9,096 9,180 9,129 9,027 8,891 8,545 1,937 1,974 1,964 1,965 1,956 1,957 1,979 1,979 1,983 1,990 1,987 1,998 1,339 1,266 1,260 1,260 1,247 1,236 1,217 1,210 1,213 1,219 1,218 1,214 36,862 36,933 37,222 37,363 37,534 37,677 37,927 37,919 38,124 38,386 38,544 38,851 34,108 34,172 34,449 34,570 34,746 34,848 35,058 35,046 35,253 35,506 35,646 35,930 2,754 2,761 2,773 2,793 2,788 2,829 2,869 2,873 2,871 2,880 2,898 2,921 26,208 26,458 26,727 26,949 27,217 27,484 27,748 28,001 28,250 28,563 28,867 29,425 2,315 2,344 2,366 2,382 2,406 2,422 2,453 2,473 2,491 2,505 2,523 2,557 3,125 3,141 3,159 3,177 3,190 3,207 3,230 3,245 3,260 3,271 3,284 3,294 3,852 3,907 3,843 3,864 3,911 3,941 3,988 4,080 4,079 4,055 4,181 4,383 1956—Jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. 90,884 91,261 91,572 92,032 92,486 92,883 93,589 94,000 94,419 94,882 95,287 95,844 11,749 11,607 11,414 11,439 11,333 11,277 11,289 11,207 11,246 11,299 11,212 10,989 8,393 8,236 8,045 8,085 7,986 7,920 7,884 7,775 7,799 7,846 7,745 7,519 2,123 2,143 2,153 2,153 2,139 2,147 2,191 2,207 2,212 2,216 2,228 2,234 1,233 1,228 1,216 1,201 1,208 1,210 1,214 1,225 1,235 1,237 1,239 1,236 39,144 39,381 39,568 39,701 39,857 39,965 40,297 40,438 40,520 40,630 40,739 ,40,976 36,217 36,432 36,591 36,724 36,882 37,000 37,304 37,440 37,554 37,670 37,770 38,067 2,927 2,949 2,977 2,977 2,975 2,965 2,993 2,998 2,966 2,960 2,969 2,909 29,798 30,102 30,382 30,651 30,991 31,284 31,613 31,895 32,110 32,399 32,706 32,994 2,568 2,590 2,608 2,623 2,645 2,672 2,712 2,726 2,746 2,779 2,815 2,829 3,308 3,325 3,345 3,365 3,385 3,409 3,400 3,420 3,440 3,461 3,483 3,505 4,317 4,256 4,255 4,253 4,275 4,276 4,278 4,314 4,357 4,314 4,332 4,551 1957—Jan.. Feb.. Mar.. Apr.. May. June. July. Aug.. Sept.. Oct.. Nov.. Dec. 96,536 96,987 97,344 97,771 98,190 98,582 99,166 99,550 100,017 100,446 100,840 101,309 11,124 11,104 11,004 11,028 10,989 10,928 10,963 10,943 10,909 10,937 10,871 10,691 7,619 7,586 7,477 7,488 7,409 7,347 7,352 7,320 7,288 7,301 7,209 7,028 2,265 2,265 2,274 2,284 2,310 2,312 2,326 2,337 2,344 2,357 2,367 2,377 1,240 1,253 1,253 1,256 1,270 1,269 1,285 1,286 1,277 1,279 1,295 1,286 41,297 41,494 41,716 41,917 42,112 42,308 42,636 42,821 43,021 43,266 43,474 43,750 38,324 38,509 38,721 38,912 39,098 39,296 39,632 39,791 39,999 40,233 40,432 40,737 2,973 2,985 2,995 3,005 3,014 3,012 3,004 3,030 3,022 3,033 3,042 3,013 33,316 33,521 33,718 33,890 34,076 34,220 34,383 34,578 34,732 34,902 35,034 35,271 2,828 2,852 2,868 2,889 2,929 2,963 2,994 3,021 3,047 3,072 3,098 3,120 3,545 3,569 3,598 3,627 3,657 3,681 3,707 3,735 3,769 3,807 3,839 3,872 4,426 4,447 4,440 4,420 4,427 4,482 4,483 4,452 4,539 4,462 4,524 4,605 180 28. LIFE INSURANCE COMPANIES: ASSETS AND LIABILITIES, 1945-63 — Continued [Book value, in millions of dollars] Business securities Government securities End of month Total assets Total United States State and local Foreign Total Bonds Stocks Mortgages Real estate Policy loans Other assets 1958—Jan.. Feb. Mar. Apr. May June July. Aug. Sept. Oct.. Nov. Dec, 101,967 102,325 102,734 103,114 103,578 104,084 104,666 105,151 105,604 106,191 106,667 107,580 10,921 10,960 10,862 10,909 10,887 10,970 11,157 11,240 11,263 11,296 11,344 11,242 7,194 7,210 7,086 7,100 7,029 7,074 7,246 7,290 7,294 7,305 7,324 7,182 2,427 2,439 2,463 2,477 2,506 2,540 2,564 2,601 2,621 2,647 2,679 2,691 1,300 1,311 1,313 1,332 1,352 1,356 1,347 1,349 1,348 1,344 1,341 1,369 43,984 44,147 44,416 44,638 44,818 45,037 45,258 45,411 45,635 45,956 46,099 46,420 40,956 41,070 41,303 41,515 41,682 41,859 42,075 42,238 42,415 42,738 42,874 43,044 3,028 3,077 3,113 3,123 3,136 3,178 3,183 3,173 3,220 3,218 3,225 3,376 35,447 35,584 35,726 35,841 35,959 36,061 36,189 36,328 36,470 36,656 36,801 37,092 3,152 3,171 3,196 3,227 3,249 3,286 3,313 3,365 3,393 3,406 3,429 3,387 3,906 3,938 3,972 4,005 4,032 4,059 4,080 4,102 4,124 4,148 4,164 4,186 4,557 4,525 4,562 4,494 4,633 4,671 4,669 4,705 4,719 4,729 4,830 5,253 1959—Jan.. Feb. Mar. Apr., May June July. Aug. Sept. Oct.. Nov. Dec. 11,580 11,565 11,458 11,544 11,629 11,671 11,843 11,975 11,817 11,826 11,725 11,599 11,788 11,817 11,707 11,653 11,624 11,542 11,625 11,643 11,726 11,704 11,760 11,699 7,461 7,392 7,209 7,228 7,213 7,223 7,262 7,357 7,176 7,158 7,026 6,858 7,029 6,984 6,821 6,735 6,672 6,570 6,622 6,577 6,575 6,513 6,531 6,428 2,730 2,768 2,839 2,890 2,972 3,006 3,116 3,147 3,165 3,179 3,197 3,221 3,231 3,267 3,304 3,329 3,358 3,377 3,401 3,447 3,529 3,562 3,588 3,606 1,389 1,405 1,410 1,426 1,444 1,442 1,465 1,471 1,476 1,489 1,502 1,520 1,528 1,566 1,582 1,589 1,594 1,595 1,602 1,619 1,622 1,629 1,641 1,665 46,607 46,834 47,078 47,349 47,539 47,779 47,981 48,061 48,176 48,390 48,595 48,840 48,979 49,097 49,220 49,365 49,622 49,834 50,066 50,270 50,341 50,646 50,847 51,053 43,225 43,432 43,642 43,891 44,062 44,281 44,444 44,516 44,624 44,816 44,988 45,157 45,283 45,381 45,520 45,650 45,870 46,030 46,215 46,364 46,428 46,675 46,838 46,967 3,382 3,402 3,436 3,458 3,477 3,498 3,537 3,545 3,552 3,574 3,607 3,683 3,696 3,716 3,700 3,715 3,752 3,804 3,851 3,906 3,913 3,971 4,009 4,086 37,230 37,356 37,493 37,603 37,729 37,885 38,079 38,246 38,453 38,698 38,933 39,237 39,519 39,710 39,946 40,164 40,373 40,560 40,713 40,940 41,119 41,336 41,533 41,815 3,404 3,425 3,459 3,481 3,506 3,531 3,574 3,603 3,621 3,626 3,666 3,678 3,697 3,708 3,722 3,731 3,773 3,795 3,804 3,819 3,825 3,832 3,846 3,796 4,213 4,240 4,272 4,305 4,334 4,367 4,398 4,434 4,475 4,524 4,569 4,620 4,666 4,723 4,788 4,850 4,908 4,968 5,013 5,069 5,114 5,155 5,195 5,233 5,169 5,224 5,210 5,210 5,230 5,223 5,239 5,295 5,267 5,300 5,371 5,676 June, July. Aug. Sept. Oct.. Nov. Dec. 108,203 108,644 108,970 109,492 109,967 110,456 111,114 111,614 111,809 112,364 112,859 113,650 114,300 114,727 115,004 115,418 115,902 116,365 116,947 117,477 117,847 118,427 118,923 119,576 5,651 5,672 5,621 5,655 5,602 5,666 5,726 5,736 5,722 5,754 5,742 5,980 1961—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 120,429 120,913 121,443 122,039 122,589 122,998 123,642 124,170 124,691 125,356 126,007 126,816 11,911 11,979 12,017 12,025 12,087 11,982 12,073 12,117 12,105 12,138 12,161 jl,915 6,553 6,551 6,544 6,501 6,521 6,409 6,479 6,479 6,428 6,442 6,396 6,135 3,655 3,682 3,710 3,744 3,745 3,744 3,765 3,795 3,822 3,835 3,879 3,902 1,703 1,746 1,763 1,780 1,821 1,829 1,829 1,843 1,855 1,861 1,886 1,878 51,331 51,466 51,629 51,870 52,039 52,310 52,618 52,826 53,033 53,318 53,548 53,967 47,182 47,255 47,334 47,556 47,638 47,902 48,178 48,356 48,510 48,745 48,921 49,149 4,149 4,211 4,295 4,314 4,401 4,408 4,440 4,470 4,523 4,573 4,627 4,818 42,001 42,142 42,365 42,627 42,800 42,987 43,096 43,263 43,427 43,631 43,868 44,250 3,856 3,863 3,865 3,867 3,875 3,893 3,912 3,943 3,956 3,974 3,990 4,011 5,272 5,311 5,375 5,437 5,482 5,525 5,558 5,597 5,636 5,670 5,701 5,735 6,058 6,152 6,192 6,213 6,306 6,301 6,385 6,424 6,534 6,625 6,739 6,938 1962—Jan.. Feb.. Mar. Apr.. May. June. July. Aug. Sept. Oct.. Nov. Dec. 127,553 127,995 128,351 128,808 129,168 129,377 130,058 130,661 131,134 131,813 132,584 133,291 12,170 12,218 12,271 12,360 12,349 12,263 12,397 12,435 12,425 12,582 12,694 12,469 6,358 6,383 6,307 6,398 6,374 6,279 6,400 6,379 6,331 6,359 6,395 6,171 3,931 3,934 4,051 4,036 4,024 4,036 4,047 4,072 4,084 4,063 4,046 4,037 1,881 1,901 1,913 1,926 1,951 1,948 1,950 1,984 2,010 2,160 2,253 2,261 54,318 54,535 54,719 54,976 55,299 55,462 55,715 55,941 56,171 56,371 56,511 56,565 49,479 49,653 49,811 50,034 50,304 50,483 50,717 50,921 51,110 51,264 51,370 51,389 4,839 4,882 4,908 4,942 4,995 4,979 4,998 5,020 5,061 5,107 5,141 5,176 44,399 44,513 44,656 44,775 44,972 45,170 45,309 45,546 45,724 46,020 46,352 46,957 4,018 4,032 4,036 4,056 4,071 4,089 4,095 4,103 4,108 4,119 4,128 4,114 5,784 5,808 5,850 5,895 5,942 5,996 6,040 6,086 6,125 6,166 6,204 6,235 6,864 6,889 6,819 6,746 6,535 6,397 6,502 6,550 6,581 6,555 6,695 6,951 1963—Jan.. Feb.. Mar. Apr.. May. June. July. Aug., Sept. Oct.. Nov. Dec. 134,212 134,683 135,151 135,780 136,396 136,864 137,603 138,314 138,878 139,596 140,215 .141,121 12,817 12,940 12,757 12,728 12,561 12,448 12,550 12,558 12,548 12,559 12,518 12,464 6,304 6,233 6,022 6,003 5,840 5,746 5,836 5,817 5,841 5,865 5,837 5,813 4,068 4,059 4,041 4,014 3,972 3,952 3,951 3,931 3,890 3,887 3,880 3,868 2,445 2,648 2,694 2,711 2,749 2,750 2,763 2,810 2,817 2,807 2,801 2,783 56,844 56,966 57,275 57,554 57,928 58,168 58,486 58,688 58,848 59,157 59,527 59,434 51,613 51,711 51,953 52,202 52,572 52,744 53,043 53,197 53,302 53,613 53,964 53,770 5,231 5,255 5,322 5,352 5,356 5,424 5,443 5,491 5,546 5,544 5,563 5,664 47,172 47,311 47,581 47,866 48,113 48,367 48,672 48,980 49,260 49,570 49,854 50,596 4,148 4,164 4,171 4,193 4,203 4,232 4,254 4,303 4,321 4,333 4,343 4,325 6,271 6,306 6,349 6,396 6,433 6,474 6,507 6,538 6,569 6,598 6,622 6,656 6,960 6,996 7,018 7,043 7,158 7,175 7,134 7,247 7,332 7,379 7,351 7,646 I960—Jan.. Feb., Mar. Mly, 181 29. ASSETS OF ALL PUBLIC AND PRIVATE PENSION FUNDS, 1950-63 [Book value, end of year; in billions of dollars] Type of fund 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 5.6 5.8 .7 6.6 7.2 .8 7.7 8.8 .9 8.8 10.7 . 1.0 10.0 12.7 1.1 11.3 14.9 1.3 12.5 17.4 1.5 14.1 20.3 1.8 15.6 23.2 2.0 17.6 26.7 2.4 18.8 30.3 2.8 20.2 34.3 3.2 21.6 38.2 3.7 23.3 42.4 4.1 Total private funds 12.0 14.5 17.3 20.4 23.7 27.4 31.4 36.1 40.9 46.6 52.0 57.8 63.5 69.9 Government Railroad retirement... Civil service^ State and local Federal OASI Federal disability insurance 2.6 4.2 5.3 13.7 2.7 4.8 6.1 15.5 3.0 5.4 7.0 17.4 3.3 5.7 8.0 18.7 3.4 6.0 9.2 20.6 3.5 6.5 10.5 21.7 3.6 7.3 11.9 22.5 3.6 7.8 13.4 22.4 .6 3.6 8.7 15.2 21.9 1.4 3.7 9.6 17.1 20.1 1.8 3.7 10.5 19.3 20.3 2.3 3.7 11.5 21.7 19.7 2.4 3.7 12.6 24.2 18.3 2.4 3.8 13.6 27.0 18.5 2.2 Private Insured pension reserves Noninsured corporate pension Other noninsured funds 1 Total government funds 25.8 29.1 32.8 35.7 39.2 42.2 45.3 47.9 50.8 52.4 56.2 59.1 61.2 65.1 Total 37.8 43.6 50.2 56.2 62.9 69.6 76.7 84.0 91.6 99.0 108.2 116.9 124.7 135.0 1 Includes reserves of multi-employer funds, nonprofit organizations, and union-administered plans. 2 Includes foreign service retirement and disability fund. SOURCES.—Securities and Exchange Commission, on basis of data from Institute of Life Insurance, U.S. Treasury Department, and Social Security Administration. 30. ASSETS OF NONINSURED CORPORATE PENSION FUNDS, 1951-63 [In millions of dollars] Type of asset 1951 1952 1953 1954 1955 1956 1957 1959 1958 1960 1961 1962 1963 585 2,426 18,054 893 17,161 627 17,122 1,335 15,787 A. Book value, end of year Cash and deposits U.S. Government securities Corporate bonds Own company Other companies Preferred stock Common stock Own company Other companies Mortgages 297 2,258 3,214 273 2,257 4,255 324 2,397 5,325 309 2,384 6,539 358 2,651 7,434 382 2,120 10,741 642 10,100 642 5,087 589 4,498 402 397 2,070 12,143 638 11,506 689 6,456 652 5,804 511 419 2,257 13,262 676 12,586 696 8,228 783 7,445 710 431 2,142 14,687 740 13,947 696 10,161 886 9,275 921 517 2,174 15,719 758 14,961 682 12,624 1,039 11,585 1,103 542 2,354 16,718 857 15,861 667 14,901 1,184 13,717 1,376 l l l i l l 1 1 1 1 289 885 246 639 349 1,296 297 999 417 1,762 342 1,420 476 2,436 383 2,054 534 3,158 435 2,723 203 345 2,400 8,964 598 8,366 597 4,031 509 3,522 303 1248 1326 1447 1550 550 789 895 967 1,096 1,305 1,483 1,675 14,889 17,429 20,268 23,234 26,667 30,343 34,302 38,233 Other assets Total assets 7,191 8,757 10,671 12,694 1,638 1,975 42,427 B. Market value, end of year Cash and deposits U.S. Government securities Corporate bonds Own company Other companies Preferred stock Common stock Own company Other companies Mortgages Other assets Total assets 547 5,119 934 4,185 203 550 345 2,294 8,141 522 7,619 549 6,051 868 5,183 302 789 382 2,071 10,139 596 9,542 576 6,451 865 5,586 401 893 397 1,968 11,236 553 10,683 639 10,241 1,303 8,938 512 969 419 2,103 11,794 558 11,236 627 13,096 1,758 11,338 708 1,094 431 2,122 13,687 651 13,036 638 14,967 2,039 12,929 924 1,304 517 2,134 14,815 667 14,148 649 20,910 3,016 17,894 1,107 1,497 542 2,341 16,171 795 15,377 649 20,036 2,564 17,472 1,389 1,693 585 2,389 17,327 809 16,518 622 25,481 3,124 22,357 1,654 2,009 16,670 18,470 20,913 25,962 29,841 34,073 41,629 42,821 50,068 358 2,603 7,289 1 1 1 Not available separately. SOURCE.—Securities and Exchange Commission. 182