Full text of Survey of Current Business : April 1928
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
UNITED STATES DEPARTMENT OF COMMERCE WASHINGTON SURVEY OF CURRENT BUSINESS APRIL, 1928 No. 80 > ; COMPILED BY BUREAU OF THE CENSUS , IN COOPERATION WITH BUREAU O£ FOREIGN AND DOMESTIC COMMERCE 1 . * / AND . ^" , ' *'v / i BUREAU OF STANDARDS IMPORTANT NOTICE In addition to figures given from..Government sources, there are also incorporated for completeness of service figures from other sources generally accepted by the trades, the authority and responsibility for which nre noted in the "Sources of Data" on pages 139-1 &2 of ike February semiannual issue Subscription price of the SURVEY OF CURRENT BUSXNES^ IS #1.50 a year; single copies (monthly), 10 cents; semiannual issues, 25 cents. Foreign subscriptions, $2,25; single copies (monthly issues), including postage, 14 cents; semiannual issues, 36 cents. Subscription price of COMMERCE REPORTS is $4 a year; with the SURVEY, $5.50 a year., Make remittances only to Superintendent of Documents, Washington, D» C», by postal money order, express order, or New York draft. Currency at sender's risk. Postage stamps or foreign l * -: . , money not accepted , ' I . S. 8OVERMMENT PltlNTINC OfFlCI: l » 2 t INtEODtJCTION T H E SUBVEY OF CURRENT BUSINESS is designed to present each month a picture of the business situation by setting forth the principal facts regarding the various lines of trade and industry. At semiannual intervals detailed tables are published giving, for each item, monthly figures for the past two years and yearly comparisons, where Available, back to 1913; also blank lines sufficient for six months have been left at tlie bottom of each table enabling those who care to do so to enter new figures as soon as they appear (see issue for February, 1928, No. 78). In the intervening months the more important comparisons only are given in the table entitled " Trend of business movements." WEEKLY SUPPLEMENT Realizing that current statistics are highly perishable and that to be of use they must reach the business man at the earliest possible moment, the department has arranged to distribute supplements every week to subscribers in the United States. The supplements are usually mailed on Saturdays and give such information as has been received during the week ending on the preceding Tuesday. The monthly information contained in these bulletins is republished in the SURVEY, and the supplements also contain charts and tables of weekly data. . i BASIC DATA The figures reported in the accompanying tables are very largely those already in existence. The chief function of the department is to bring together these data which, if available at all, are scattered in hundreds of different publications. A portion of these data are collected by Government departments, other figures are compiled by technical journals, and still others are reported by trade associations. ment from one period to the next. Thus, if a relative number at one month is 120 and for a later month it is 144 there has been an increase of 20 per cent. INDEX NUMBERS When two or more series of relative numbers are combined by a system of weightings, the resulting series is denominated an index number. The index number, by combining many relative numbers, is designed to show the trend of an entire group of industries or for the country as a whole, instead of for the single commodity or industry which the relative number covers. Comparisons with the base year or with other periods are made in the same manner as in the case of relative numbers, RATIO CHARTS In many instances the charts used in the SURVEY OF CURRENT BUSINESS are of the type termed "Rfttio Charts" (logarithmic scale), notably the Business Indicator charts on page 2. These charts show the percentage increase and allow direct comparisons between the slope of one curve and th$t of any other curve regardless .of its location on the diagram; that is, a 10 per cent increase in an item is given the same vertical movement whether its curve is near the bottom or near the top of the chart. The difference between this and the ordinary arithmetic form of chart can be made clear by an example. If a certain item, having a relative number of 400 in one month, increases 10 per cent in the following month, its relative humber will t>e 440, and on an ordinary chart would be plotted 40 equidistant scale points higher than the preceding months. Another move^ ment with a relative number of, say, 50 also increases 10 per cent, making its relative number 55. On the ordinary (arithmetic) scale this item would rise only 5 RELATIVE NUMBERS equidistant points* whereas the previous item rose 40 To facilitate comparison between different impor- points, yet each showed the same percentage increase. tant items and to chart series expressed in 4ifferfent The ratio charts avoid difficulty and give to each units, relative numbers (often called "index num- of the two movements exactly the same vertical rise, bers/ ' a term referring more particularly to a special and henee the slopes of the two lines are directly kind of number described below) have teen calcu- comparable. The ratio charts compare percentage lated. changes while the arithmetic charts compare absolute In computing these relative numbers the last pre- changes.. war year, 1913, or the first postwar year, 1919, have RECORD BOOK usually been used as a base equal to 100 wherever As an aid to readers in comparing present data possible. More lately the average for 1923-1925 has with monthly statistics in previous years, the departbeeti frequently taken as 100. The relative numbers are computed by allowing the ment is compiling a RECORD BOOK OF BUSINESS , monthly average for the base year or period to equal STATISTICS, in which data now carried in thd SURVEY * 100. If the movement for a current month' is greater OF CURRENT BUSINESS are shown by months as far than the bas^ the relative number will be greater than back as 1909, if available, Full descriptions of the> 100, and vice versa. The difference between 100 and figures and reports of how the data are used in actual the relative number will give at once the per cent practice by business firms are contained in the RECORD increase or decrease compared with the base period. BOOK. The sections covering textiles and metals have Thus a relative number of 115 means an increase of 15 already been issued and may be obtained for 10 cents per cent over the base period, while a relative number per copy from the Superintendent of Documents, Government Printing Office, Washington, D. C. (Do not of 80 means a decrease* of 20 per cent from the base. Relative numbers may also be used to calculate the sand stamps.) Notices of other sections will be given •-approximate percentage increase or decrease in a move- in the SURVEY as they are issued. This issue presents practically complete data for the month of February and contains text covering the early weeks of March (page 1), for which the basic figures in table and chart form are presented regularly in the meekly supplements* As most data covering a particular monihfs business are not available Until from 15 to 30 days after the close of the month, u complete picture of that month's operations can hot be presented at an early date, but the weekly supplements give every week the latest data available* UNITED STATES DEPARTMENT OF COMMERCE SURVEY OF CURRENT BUSINESS COMPILED BY BUREAU OF THE CENSUS IN COOPERATION WITH BUREAU OF FOREIGN AND DOMESTIC COMMERCE AND BUREAU OF STANDARDS WASHINGTON No. 80 April, 1928 CONTENTS INDEX BY SUBJECTS SUMMARIES Page Preliminary summary for March 1 Business conditions in February 4 Business indicators (tables and charts) 2, 3 Wholesale prices (table and charts) 5, 6, 7 Indexes of business (production, prices, sales, etc.) 15 Automobiles, building, mining, manufacturing, electric power, and transportation (charts) 8 NEW DETAILED TABLES Canadian passenger-cars and miscellaneous. Mineral production index Department-store sales and stocks (revised). Lumber unfilled orders Canadian electric power (revised) Foreign loans issued in United States Coffee movement (revised) 18 19 20 22 22 22 23 Textiles Metals and metal products.. Fuels Automobiles and rubber Hides and leather Paper and printing Building construction and housing Lumber products Stone, clay, and glass products Chemicals and oils Foodstuffs and tobacco Transportation and public utilities Employment and wages Distribution movement (trade, advertising, etc.) _ Banking and finance Foreign exchange and trade, gold and silver Text page Table page 24 9 26 10 11 29 11 29,30 11 31 11 32 12 33 12 34 12 35 12 36 13 38 14 42 5 43 14 44 14 45 14 47 PRELIMINARY SUMMARY FOR MARCH Prices for cotton continued to advance, being higher also than a year ago. Prices for stocks listed on the New York Stock Exchange reached a new high record for the month, while bond prices, showing practically no change from the preceding month, were higher than a year ago. Although brokers' loans increased during the month, they were lower than the high record reached early in February. Business failures were less numerous in March than in the preceding month, showing little change, however, from a year ago. The output of lumber, although running smaller than in February, was considerably larger than in March, 1927. Bituminous-coal production was running larger than in February but was smaller than a year ago. The output of beehive coke, although larger than in February, was only about half as large as in March of last year. Carloadings were running heavier than in February but were smaller than a year ago. Petroleum production showed little change from the preceding month but was considerably smaller than in March, 1927. Measured by the volume of checks passing through the banks for payment, business during the early weeks of March was larger than in either the preceding month or March of last year. The volume of new building contracts awarded during the early weeks of the month were larger in value than in either prior period. Activity in the automobile industry, as reflected by employment data covering Detroit factories, was greater also than in either the preceding month or March of last year. Interest rates, although somewhat higher than a year ago, continued to reflect easy money conditions with ample funds available for business enterprises. Loans and discounts of Federal reserve member banks showed some expansion as compared with the previous month and were higher also than in March of last year. The general level of wholesale prices continued to rise, reaching a point during the month higher than at any time in almost two years. Wholesale prices for iron and steel averaged higher than in the previous month but were still below the level of last year. 95561-28 1 (1) MONTHLY BUSINESS INDICATORS, 1920-1928 [Ratio charts—see explanations on inside front cover. The curves on check payments, wholesale trade, sales by mail-order houses, 10-cent chains, and department stores have been adjusted for normal seasonal variations, and that on manufacturing production for the varying number of working days in the month] 120 1923 I 1924 I 1925 ! 1926 I 1927 1 1928 1923 1 1924 1 1925 1 1926 i 1927 192a -120 100 60 MONTHLY BUSINESS INDICATORS The principal business indicators are shown below, all calculated on a comparable basis, the average for the years 1923 to 1925, inclusive. Thus the table gives a bird's-eye view of the business situation in a concise form, so that trends of the principal indicators may be seen at a glance. Certain indicators, in which there is a marked seasonal movement, are shown with the average seasonal variations eliminated, as noted below. In this manner a more understanding month-to-month comparison may be made. MONTHLY AVERAGE 1923 1926 1928 1927 1924 1925 1926 1927 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 1 9 2 3 - 1 9 2 5 m o n t h l y average=100 Manufacturing production: Pig iron Steel ingots Automobiles Cement Lumber (5 species) Cotton (consumption) Wool (consumption) 102.3 111.7 104.8 101.5 92.1 98.6 105.9 112.8 94.3 86.7 88.7 90.9 99.8 96.2 89.7 94.6 103.8 101.5 106.4 107.7 108.1 105.2 104.4 92.6 106.9 109.0 113.1 108.5 110.0 101.5 108.5 89.7 104.5 101.0 103.8 85.7 115.3 94.9 120.3 97.0 103.0 108.3 107.2 77.6 114.2 94.9 113.8 100.9 98.0 98.3 108.4 114.3 113.4 116.0 113.4 107.6 107.6 105.0 103.4 93 3 103.4 103.9 98.4 116.6 114.5 113.5 103.4 98.8 98.6 92.9 93.2 88.6 100.3 108.8 109.4 130.1 118.5 116.1 100.3 91.9 100.4 93.5 95.1 89.7 50.9 72.4 92.3 119.5 122.6 122.4 97.5 81.3 93.5 78.9 66.5 40.7 86.4 66.4 59.4 92.1 113.0 134.4 138.6 140.1 147.4 140.8 138.2 116.3 84.4 78.9 86.0 91.6 91.0 101.9 99.9 96.5 107.5 105.8 101.5 94 4 117.9 117.8 115.0 135.3 120.6 123.3 129.1 110.9 123.4 122.2 119.4 121.9 101.0 97.9 97.0 114.5 92.8 93.6 95.0 84.1 98.1 101.6 103.7 97.8 Raw material o u t p u t : Total Animal products Crops Forest products Minerals (all) Crude petroleum Bituminous coal Copper 97.5 101.0 92.2 99.2 103.1 99.4 108.0 93.3 102.3 101.0 107.0 97.2 95.9 96.9 92.5 100.2 100.1 97.8 100.8 103.6 101.1 103.7 99.5 106.4 103.9 98.8 106.2 97.5 107.8 104.6 109.7 110.2 107.5 101.3 112.6 94.7 108.6 121.4 99.4 104.9 141.5 108.7 180.5 92.7 120.0 113.8 135.9 113.6 120.3 108.8 135.3 87.0 113.8 118.3 131.3 109.8 t Total Power and construction: Electric power Buildingcontracts (37 States). Unfilled orders: General index U. S. Steel Corporation 92.5 89.7 121.7 125.8 104.7 96.1 110.4 80.1 111.6 116.4 130.6 115.5 92.8 85.4 93.2 84.3 104.2 110.6 121.4 104.9 96.8 82.8 91.1 88.1 90.1 113.8 102.0 102.7 116.1 107.3 97.7 97.6 84.7 61.0 63.1 62.6 76.3 124.4 92.2 94.2 103.4 101.6 94.3 103.3 115.3 96.6 110.2 109.9 106.8 117.3 122.7 118.2 124.2 121.4 127.6 127.1 138.1 79.6 81.2 84.1 77.2 95.7 105.1 107.8 108.6 105.4 99.4 102.0 Prices: Farm products, to producers Wholesale, all commod Retail food Cost of living (inch food)— 87.0 83.6 106.6 96.3 97.8 99.7 97.6 98.1 97.1 97.2 97.6 99.9 Distribution (values): • Bank debits, 141 cities 91.2 96.7 101.0 98.0 • Wholesale trade • Department stores, sales... 98.3 99.1 92.7 97.4 • Mail-order houses, sales • 10-cent chains, sales.. 88.5 99.3 Imports 97.8 93.1 Exports 91.5 100.8 91.3 90.6 84.6 82.1 74.1 71.1 97.2 98.0 94.3 127.5 107.8 157.1 95.7 102.6 120.2 93.3 103.2 107.6 106.0 115.8 87.4 98.7 120.7 94.8 101.9 97.0 101.0 94.6 83.2 82.4 97.2 84.4 91.1 94.8 117.8110.2 101.5 94.9 103.8 102.2 79.5 79.7 77.2 83.0 82.7 79.6 81.5 75.3 81.2 74.4 77.2 72.4 97.4 96.9 95.3 97.0 97.4 96.6 74.3 63.9 72.2 63.9 72.1 65.8 71.5 66.9 69.9 65.9 67.0 70.0 67.1 72.4 71.5 81.2 81.5 89.5 92.1 134.6 132.8 141.4 152.7 145.8 140.1 140.9 139.3 137.5144.9 118.0 116.9 121.3 127.9 127.9 125.2 120.9 116.9 127.8127.9 124.0 100.3 85.8 87.6 135.2 179.8 200.0 195.8 178.8159.1 95.5 85.1 92.2 82.7 76.4 74.1 80.3 84.2 85.2 76.8 95.6 95.0 93.1 93.2 93.8 93.4 91.6 90.7 91.2 106.5 98.6 94.9 94.2 92.0 91.3 92.0 91.3 90.6 91.3 94.2 94.2 95.7 101.4 100.7 99.3 99.3 99.3 97.8 102.6 99.1 95.4 97.5 97.0 95.7 95.0 93.7 92.9 92.9 93.0 93.3 94.4 95.6 96.1 95.8 95.9 95.4 95.6 104.9 107.6 103.6 108.2 108.2 106.2 104.2 102.9 102.9 103.6 106.2 102.9 101.6 102.9 104.3 104.9 104.2 103.6101.3 102.3 102.3 99.9 102.3 102.3 101.7 100.5 99.9 99.9 100.5 98.7 98.7 99.3 99.9 99.9 99.9 99.2 98.7 111.9 101.0 103.9 110.5 112.3 109.0 107.8 119.6 98.0 107.8 116.2 123.2 114.3 105.5 132.5 95.0 107.7 120.1 135.3 107.9 106.8 109.6 98.0 109.4 115.2 128.6 115.7 126.5 119.3 95.0 115.8 130.2 136.8 111.3 122.6 123.6 94.0 103.1 103.0 131.9 110.5 110.5 132.3 95.0 109.4 110.5 138.9 96.2 98.2 136.6 96.0 101.5 105.9 120.5 117.1 107.7 134.3 94.0 111.0 117.1 141.6 116.3 109.4 127.8 95.0 103.1 126.5 131.9 98.9 90.1 130.7 91.0 105.5 114.3 139.5 110.1 128.7 132.1 95.0 110.2 119.9 137.8 106.6 121.2 136.9 93.0 117.4 140.5 149.8 102.5 107.4 142.1149.6 95.1196.8 105.4 105.7 107.7110.6 141.6 143.6 104.5109.3 108.1 98.2 97.6 102.8 106.8 104.0 106.4 104.8 107.6 108.5 109.0 108.6 108.8 102.6 102.7 103.3 103.3 101.3 95.9 101.9 109.1 101.5 116.2 107.5 105.1 98.8 112.1 99.4 107.5 103.1 102.9 112.5 115.1 122.1 95.2 99.8 96.8 92.7 98.0101.8 97.2 121.4 91.0 92.2 114.9 171.6 190.0 85.3 123.2 92. 86.6 115.6 171.1 193.7 120.9 121.9120.9 90.1 93.6 95.5 96.0 115.9115.8 169.1164.7 193.5191.2 112.3106.3 Transportation: * Car loadings Freight, net ton-miles 99.8 102.2 Finance: Member bank loans and disc. Interest rate (coml. paper)... Federal reserve ratio Price, corporation bonds Price, railroad stocks Price, industrial stocks Failures (liabilities) I 94.1 98.5 107.4 112.9 117.3 115.9 90.8 93.4 98.5 93.1 99.0 104.1 96.9 96.0 99.1 96.4 99.9 103.6 108.0 112.5 86.0 96.1 117.9 133.4 162.7 86.1 91.9 122.0 132.4 171.4 106.0 106.8 87.2 80.4 102.3 154.3 102.4 215.8 98.0 115.4 125.6 101.0 104.6 98.1 109.5 122.6 132.4 129.3 135.9 134.2 121.3 133.9 127.9 131.2 129.1 128.7 133.3 131.7 138.2 137.1 143.8 144.8136.7 92.7 117.6 111.0 106.8 106.3 96.6 80.2 82.6 132.4 126.0 111.6 118.6 102.4 110.1 101.9 115.0 105.2 95.2 96.0103.7 Stocks: • General index 88.9 102.2 108.9 129.5 139.6 151.2 140.8 139.7 142.5 136.1 129.1 • Manfd. commodities (28) . . 86.6 104.1 108.6 109.4 120.0 109.3 107.0 118.4 115.6 115.1 115.5 Cotton 102.5 91.4 106.2 145.5 153.2 213.0 219.3 210.7 196.2 172.1 148.2 Copper (refined) 106.4 113.9 73.1 64.8 85.4 65.2 75.5 83.0 93.1 91.1 87.7 Employment: Factories 138.0 94.0 185.5 101.6 111.8 122.3 96.3 100.0 88.2 99.0107.2 90.2 '6.1 97.1 91.1 114.6116.1 40.4 70.2 97.9 96.5 78.6 70.7 82.9 79.6 90.6 105.9 113.5111.8 88.0 95. 2 102.0 114.8 103.1 93.5 109.4 139.3 137.4 77.1 116.3 101.7 90.8 110.2 143.3 143.3 107.6 t Adjusted for number of working days. 113.4 95.9 103.1 111.0 145.2 140.1 121.0 114.1 89.9 101.7 110.6 151.1 144.7 110.7 114.6 92.9 102.1 111.2 152.4 150.8 136.5 114.6 95.2 103.0 111.9 158.3 159.8 125.4 127.7 95.0 100.7 111.5 128.1 107.3 103.6 116.7 95.9 99.5 112.1 162.4 167.6 89.1 129.7 93.0 103.1 126.5 132.4 109.9 94.0 117.5 95.9 100.5 111.2 165.3 168.8 81.3 115.7 94.5 103.2 111.4 167.3 177.3 101.8 137.6 100.0 114.2 140.5 135.1 114.2 98.7 117.3 90.6 101.4 112.9 167.9 183.7 92.4 141.0 96.0 113.4 125.5 135.7 105.9 112.0 119.3 89.9 9fc 8 113.4 171.5 193.9 77.3 * Seasonal adjustments. 120.0 92.2 96.4 114.4 168.5 186.4 85.5 BUSINESS CONDITIONS IN FEBRUARY PRODUCTION The output of raw materials in February was smaller than in either the previous month or February, 1927. Manufacturing production after adjustments for working time differences showed an increase over January, but was slightly lower than in February a year earlier. Contrasted with the preceding month, the unadjusted index of manufactures showed larger production of foodstuffs, textiles, iron and steel products, lumber, leather, and automobiles, while smaller other than foodstuffs, which declined. As compared with a year ago, all groups were held in larger quantities except raw foodstuffs, which registered a decrease, SALES Unfilled orders for manufactured goods at the end of February showed no change from the previous month, but were lower than a year ago. Compared with January, forward business on the books of iron and steel manufacturers was larger, while unfilled orders for lumber declined and textiles showed no PRODUCTION, STOCKS, AND UNFILLED ORDERS FOR MANUFACTURED COMMODITIES [1923-1925 monthly average = 100. Adjustment has been made for the seasonal movement of stocks and relative number of working days for production. principally those of iron, steel, building materials, and textiles. February, 1928, is latest month plotted] Unfilled orders are 140 1923 1924 1925 output was registered in paper and printing, chemicals and oils, stone and clay products, and tobacco. As compared with a year ago, all groups were produced in larger volume except textiles, nonferrous metals, paper and chemicals, which declined, and automobiles, which showed no change. COMMODITY STOCKS Stocks of commodities held at the end of February, after adjustments for seasonal conditions, were larger than in either the preceding month or February a year ago. Contrasted with the preceding month, all groups showed larger stocks except raw materials, other than foodstuffs, and manufactured commodities, 1926 1927 1928 change. Contrasted with a year ago, unfilled orders for iron and steel alone recorded an advance. Wholesale trade, after adjustments for seasonal conditions, registered an advance over both the preceding month and February of last year. As compared with a year ago, all lines of wholesale trade showed increases, except women's clothing and furniture, which declined, and men's clothing and hardware, which showed no change. Retail trade in February, as measured by department-store sales, after adjustments, for seasonal variations, was larger than in January but smaller than a year ago. Sales by mailorder houses and 10-cent chain systems recorded advances over both prior periods. PRICES The general index of whoesale prices averaged higher than in January, showing an increase also over a year ago. Contrasted with a year ago, the principal increases occurred in prices for farm products, hides and leather products, foods and textile products, while declines were registered in the prices for fuel and lighting, building materials, chemicals, and certain miscellaneous items. The indexes of prices received by farmers for their produce showed a decline from the previous month but were higher than a year ago. As compared with last year, all groups showed higher prices except meat Prices of stocks averaged lower than in January but were higher than in February, 1927, with bond prices making similar comparisons. Brokers' loans were lower at the end of February than at the end of the previous month. Defaulted liabilities of failing business firms were smaller than in either the previous month or February of last year. EMPLOYMENT Factory employment in January showed an increase over the previous month but was lower than a year ago, all groups showing advances over January except paper and printing, which declined, and lumber which WHOLESALE PRICE COMPARISONS, BY GROUPS [February, 1928, is latest month plotted, 1926 monthly average=100] 120 80 animals, which declined. The cost-of-living index registered declines from both the previous month and February, 1927. Retail food costs were also lower than in either prior period. BUILDING AND CONSTRUCTION New building contracts awarded in February, measured both in floor space and in value, were larger than in either the preceding month or February of last year. Construction costs showed little change from the previous month but were somewhat lower than a year ago. BANKING AND FINANCE Loans and discounts of Federal reserve member banks receded from the previous month but were higher than a year ago. Interest rates on commercial paper averaged higher than in either prior period. The Federal reserve ratio, although higher than in January, was lower than a year ago. showed no change. Compared with last year, employment was lower in all groups except leather, which showed an advance. Factory pay roll payments in February also recorded advances over January but were lower than a year ago. Reports from the American Federation of Labor covering unemployment show a little more than 18 per cent of union members in representative cities to be out of employment in February, representing a slight increase over the condition reported for January. Preliminary figures for March, however, show a small decline. Voluntary quits of factory labor in February were smaller than in either the previous month or the same month of last year. Industrial lay-offs, although smaller than in February, 1927, were larger than in January. Wages of common labor averaged higher than in January but were lower than a year ago. WHOLESALE PRICES FOR SPECIFIED COMMODITIES [Relative numbers, 1926 monthly average taken as 100. February, 1928, is latest month plotted. W H EAT / W I N T E R 160 Data from which these charts are drawn are given on the opposite pagej CORN, N O . 2 FLOUR, WINTER 140 OATS v 120 •* 100 80 CATTLE:, STEERS 180 160 HOGS, BEEF, CARCASS HEAVY HAMS, SMOKED • 140 •* •• 120 • • •• 100 •• .. •• 80 •• •• •* *•• ... 60 SUGAR, RAW 120 SUGAR, RUBBER.CRUDE COTTONSEED OIL GRANULATED •• 100 I * * . . . 80 60 COTTON PRINT CLOTH COTTON YARN COTTON, RAW 140 s ••••• •m WOOL, % BLOOD •• COMBING 120 y 100 • • • , • • •• •* 80 WORSTED YARNS •• LEATHER, SOLE, OAK HIDES, PACKERS SILK, RAW 190 • • • 160 130 » . ... 100 • mm • i ! 70 LEATHER, C H R O M E CALF PETROLEUM COKE BITUMINOUS COAL 180 ! 140 100 mm 60 COPPER PIG IRON, FOUNDRY 120 •• — ! INGOTS 1 100 riN ZINC CEMENT BRICK, COMMON, »• 80 60 100 FLOORING •• •• •• 80 60 LUMBER PINE STEEL BEAMS 120 • i in mi a *• 1927. 1928. * • WHOLESALE PRICES FOR SPECIFIED COMMODITIES NOTE.—Prices to producer on farm products and market price of wool are from U. S. Department of Agriculture, Bureau of Agricultural Economics, nonferrous metals from the Engineering and Mining Journal-Press. All other prices are from U. S. Department of Labor, Bureau of Labor Statistics. As far as possible all quotations represent prices to producer or at mill. RELATIVE PBICK ACTUAL PEICE (dollars) 1926 a v e r a g e - 100 Unit COMMODITIES January, 1928 February, February, 1928 1927 December1927 January, 1928 February, 1928 January, 1927 February, 1927 FARM PRODUCTS—AVERAGE PRICE TO PRODUCER Wheat Corn. Potatoes _Cotton . Cottonseed . . . Cattle, beef Hogs Lambs - ... —-- - . . . . . - . . Bushel Bushel . . . Bushel Pound Ton Pound Pound Pound . . - ...... ... 1.152 . 752 .936 .186 37.40 .0848 .0781 .1134 1.162 . 790 .962 ' -170 37.44 .0872 .0762 .1190 ! 1.228 .665 1.341 .115 22.39 .0660 .1119 .1084 84 107 51 124 137 129 69 98 85 108 50 123 138 131 66 98 86 113 52 113 138 135 65 103 90 92 75 70 68 100 93 92 91 95 72 76 82 102 95 94 FARM PRODUCTS-MARKET PRICE . Bushel Bushel Bushel Bushel Bushel.. Barley, feeding (Chicago) . . . Rye, No. 2, cash (Chicago) Bushel Cwt Tobacco leaf, average sales, warehouse (Kentucky) Cotton, middling upland (New York) . . . . Pound Pound Wool, H blood, combing, Ohio and Pennsylvania fleeces (Boston) Cwt Cattle, steers, good to choice, corn fed (Chicago). Cwt Hogs, heavy (Chicago) .. . Cwt SheeD ewes (Chicago) .. . ... Cwt Sheep, lambs (Chicago) . Wheat, No. 1, northern spring (Minneapolis) Wheat No 2, red, winter (Chicago) Corn, contract grade No. 2, cash (Chicago) . . 1.293 1.425 .886 .564 .932 1.085 23.227 .190 .50 15.800 8.320 6.050 12.650 1.263 1.538 .949 .577 .962 1.116 19.294 .185 .52 14.781 8.025 8.156 15.125 1.403 1.371 .756 .480 .780 1.051 10.536 .140 .44 11.063 11.644 7.781 13.238 82 90 114 129 126 114 239 112 107 163 70 85 95 84 92 117 131 134 114 274 108 109 166 67 92 92 82 100 125 134 139 117 228 106 113 155 65 124 110 91 89 101 116 106 106 146 77 96 108 97 98 91 100 112 112 110 124 80 96 116 94 118 97 7.450 6.700 .045 .057 .101 .220 .230 .212 .49 .235 7.369 6.656 .043 .056 .093 .212 .230 .210 .47 .235 7.419 6.544 .049 .060 .091 .170 .175 .273 .52 .215 84 91 106 101 84 136 139 70 116 103 88 92 104 104 85 134 135 69 109 103 88 92 98 102 78 129 135 68 104 103 87 90 116 112 72 104 104 87 111 94 88 90 113 109 77 104 103 89 116 94 Pound Yard Yard Pound Yard Yard Yard Pound Dozen pair. .369 .080 .098 1.425 1.000 1.935 2.093 5.145 10. 290 .360 .077 .095 1.500 1.000 1.953 2.093 5.292 10. 290 .306 .069 .081 1.375 .995 1.913 2.048 6.027 11.270 104 105 113 98 97 96 96 81 86 103 106 105 99 97 97 97 83 85 101 103 102 105 97 97 97 85 85 84 90 86 96 97 95 95 91 93 85 92 87 96 96 95 95 97 93 Pound Pound Square foot. Pound Pair Pair .261 .300 .535 .590 6.750 5.000 .248 .291 .600 .650 6.750 5.000 .145 .158 .450 .430 6.400 4.850 178 144 118 135 102 102 186 173 118 135 106 102 176 168 132 148 106 102 111 98 99 98 100 99 103 91 99 98 100 99 Net ton . . Net ton Long ton . Short ton. . Barrel 4.093 4.545 13.130 2.780 1.220 4.069 4.497 13.232 2.713 1.213 4.338 4.836 13. 724 3.700 1.700 96 99 97 68 65 95 95 95 68 65 94 94 96 66 64 103 104 100 94 93 101 101 100 90 90 Long t o n . . . Long ton... Long ton. . Pound Pound Pound Pound Pound 19.010 17.000 33.000 .1385 .188 .0650 .5518 .0564 19.010 17.000 33.000 .1382 .188 .0633 .5179 .0555 20.260 18.000 33.000 .1268 .179 .0742 .6653 .0667 92 92 94 100 99 77 91 78 92 92 94 100 99 77 .87 77 92 92 94 100 99 75 81 76 98 97 100 94 95 90 102 91 98 97 94 92 94 88 105 91 Mfeet.... Thousand 35.260 12. 750 36.120 13.500 40.040 17.000 79 68 78 78 80 82 91 103 89 103 Barrel Cwt Pound Ton Cwt Cwt 1.600 1.800 .288 15.500 2.525 3.250 1.600 1.850 .234 15.500 2.525 3.250 1.600 1.950 .261 15.000 2.750 3.250 97 92 77 107 88 94 97 92 76 107 88 94 97 95 62 107 88 94 99 102 70 103 96 94 97 100 69 103 96 94 . 91 89 FOOD Flour, winter straights (Kansas City) Sugar 96° centrifugal (New York) Sugar, granulated, in barrels (New York) . Cottonseed oil, prime yellow (New York) Beef, fresh, carcass, good native steers (Chicago)— Beef, fresh, carcass, steers (New York) Pork, smoked hams (Chicago) . . . Butter, creamery, 95 score (New York) Oleomargarine, standard, uncolored (Chicago) ... .. . ... . Barrel Barrel Pound Pound Pound Pound Pound Pound . . . Pound Pound .. .. . TEXTILES Cotton yarns, carded, white, northern, mule spun, 22-1 cones (Boston) Cotton-print cloth, 64 x 60-38}^"- 5.35—yards to pound Cotton sheeting, brown 4/4 Trion (New York) Worsted yarns, 2/32's cross-bred stock, white, in skein (Boston) Woman's dress goods, French, 39 inches at mills, serge._. Suitings unfinished worsted—13 ounce, mill Suitings, serge, 11 ounce, 56-58 inch. _ . . _ .. Silk Japan, 13-15 Hosiery, women's, pure silk, mill __ _. . . LEATHER Hides, green salted, packers' heavy native steers (Chicago) Hides, calfskins, No. 1, country, 8 to 15 pounds (Chicago) Leather, chrome calf, dull or bright " B " grades (Boston) Leather, sole, oak, scoured backs, heavy (Boston) Boots and shoes, men's black calf, blucher (Massachusetts) Boots and shoes, men's dress welt tan calf (St. Louis) . . . . . . FUEL Coal, bituminous, mine-run (composite price) . . Coal, bituminous, prepared sizes (composite price) . Coal, anthracite, chestnut (composite price) ... . Coke, Connellsville (range of prompt and future) furnace—at ovens... Petroleum, crude, Kansas-Oklahoma—at wells . . METALS Pig iron, foundry No. 2, northern (Pittsburgh) _ Pig iron, basic, valley furnace Steel billets, Bessemer (Pittsburgh) . Copper ingots, electrolytic, early delivery (New York) Brass, sheets, mill _ Lead, pig, desilverized, for early delivery (New York) Tin, pig, for early delivery (New York) Zinc, slab, western (St. Louis) BUILDING MATERIAL AND MISCELLANEOUS Lumber, pine, southern, yellow flooring, mill Brick, common red, domestic building (New York) Cement, Portland, net without bags to trade, f. o. b. plant (Chicago district) Steel beams, mill (Pittsburgh) Rubber, Para Island, fine (New York) Sulphuric acid 66° (New York) . Wood pulp, sulphite, domestic, unbleached, news grade (New York).. Newsprint, rolls, contract, mill 8 NEW BUILDING CONTRACTS AND AUTOMOBILE PRODUCTION [Relative numbers, monthly average, 1923-1925, taken as 100] MINERAL PRODUCTION AND RAILROAD TON-MILEAGE [Relative numbers, monthly average, 1923-1925, taken as 100] 140 A 1 4E7 TON-MILES A 100 « LUr ,'', 13 Z X UJ 1v 1 /<—MINERAL . , 1 . , 1 . , 1 , , 1920 , 1921 , 1 i , 1 , 1922 , f A Ay\ A \ V / V NDEX , , 1 , , 1 , , ! , , 1923 ! 1924 1925 ! . • 1926 , , i , , i , , I , , i 1927 FACTORY EMPLOYMENT, MANUFACTURING, AND ELECTRIC POWER PRODUCTION [Relative numbers, monthly average, 1923-1925, taken as 100] i 1 i i . M i l 1928 9 REVIEW OF PRINCIPAL BRANCHES OF INDUSTRY AND COMMERCE TEXTILES of cotton cloth continued to fall behind last year and The supply of wool in February from both domestic prices of cotton goods were lower than in January. and foreign sources was less than a year ago, the de- Cotton finishing establishments also operated at a cline being particularly marked in imports. In lower rate than last year. Imports and deliveries of raw silk in February were spite of this smaller supply, consumption of wool by textile mills was slightly larger than a year ago. Wool considerably higher than last year and while warehouse prices rose over the January average and woolens stocks were less, manufacturers' stocks were higher. showed the same tendency but to a smaller degree. The activity of broad looms was higher than last year Owing to the smaller cotton crop of 1927, which the but narrow looms and spindles were working at a final ginnings reveal at 12,755,000 bales, both receipts lower percentage of activity. The price of silk rose THE TEXTILE INDUSTRIES [Relative numbers, monthly average 1923-1925, taken as 100. February, 1928, is latest month plotted. Curves covering imports of wool and exports of cotton are plotted from 12 months' moving monthly averages centered on the end month] 160 120 PRODUCT ION INDEXv f V inn \l 80 60 M h 1 1 I I I , , n i l 1923 I_LLIin PRICES^ GENE :RAL ! 1 1 1 1 1 n i l 1 l l i 1 n l.1n 11i n i Inl II i iln 1 n i l . 1924 1925 1925 1926 1926 1928 1923 1927 1928 1923 and exports are falling behind the previous year's crop at this time. Consumption by textile mills, however, is only slightly smaller than a year ago, but stocks, both in the United States and for the world, are considerably lower than at the end of February, 1927. Cotton prices declined from January but were still much higher than a year ago. The activity of cotton mills in February was on about the same level as the previous month but less than a year ago, while yarn prices declined from January. New orders for cotton textiles were higher than in January, but were lower than production, thus resulting in a decline in unfilled orders. Exports 95561—28 2 111,111,11,11,111111 1927 1925 1924 1925 1111 n 1 1 1 1 I I 1 1 1 1 1 1 1 1 1 ii 1926 1927 1926 1927 1928 i iI i i h i Ii i I i i I i i Ii 1928 as compared with January but was lower than last year. Rayon imports declined from January, but were much higher than a year ago, while prices have remained unchanged for several months. Hosiery showed a decline in January from a year ago in production, shipments, new orders, and unfilled orders, while stocks increased. For knit underwear, however, all items except new orders increased in February over a year ago. Production and stocks of fresh water pearl buttons were much larger a year ago than in February. Large increases were made over a year ago in imports of burlaps and fibers and in the manufacture of pyroxylin-coated textiles. 10 METALS Iron ore imports and consumption in February were ahead of last year, although consumption for two months was slightly lower. Stocks of ore were also slightly less than at the end of February, 1927. Pigiron production showed a falling off from last year, especially in merchant furnaces. Production was slightly higher than in January, in spite of the shorter month, and more furnaces were in blast than at the end of January. The output of steel ingots increased over both the previous month and last year, while unfilled orders of the United States Steel Corporation continued to gain, In the machinery line, new orders, shipments, and unfilled orders of machine tools were much higher than a year ago, as were new orders and shipments of electric hoists. Washing-machine shipments were slightly higher than last year, while declines occurred in steams power and centrifugal pumps, in electric overhead cranes and in foundry equipment. Production of copper except at the mines was higher than a year ago, but the total for two months was less than last year in all stages. Exports continued in a higher rate than in the year 1927 and stocks were lower, Prices of copper showed little change from January but was higher than last year. THE METAL INDUSTRIES [Relative numbers, monthly average 1923-1925, taken as 100. February, 1928, is latest month plotted. Curve covering zinc stocks is plotted from 12 months' moving monthly averages centered on the end month] 1923 1924 1925 1926 1927 1923 1928 1924 1925 1926 T927 1928 • PRODUCTION 100 ZINC • I . i l . 1924 1925 1926 1927 1928 being the largest in two years. Production and new orders of steel castings were less than a year ago, both for February and for two months, while for steel sheets, increases over a year ago were shown in production, stocks, shipments, new orders, and unfilled orders. Steel prices were generally higher than in January but still below a year ago. Among the fabricated steel products, increased activity over a year ago was noted in fabricated structural steel and in steel furniture both new orders and shipments making gains, while for fabricated steel plate and steel boilers, new orders were less than a year ago. Exports of iron and steel, although lower than in January, were higher than last year. 1924 1925 •i.,!..!. Jnlnl, 1926 1927 1928 World visible stocks of tin were higher at the end of February than a year ago, but stocks in the United States were less and imports increased over January and a year ago, but the two-month total showed a decline. Tin prices continued to decline, and zinc output declined slightly from last year, while stocks were higher. The price of zinc declined and was considerably lower than last year. Lead production was slightly higher than a year ago, but for two months was less. The price of lead also declined. Orders and unfilled orders of enameled sanitary ware were higher than a year ago, shipments and stocks being lower. 11 AUTOMOBILES HIDES AND LEATHER The production of automobiles in February was larger than a year ago, despite a decline in the output of trucks. Exports were also larger than last year, while foreign assemblies declined. Shipments and exports of accessories and parts were also larger than in February, 1927. Imports of rubber declined from January but were larger than a year ago, while the price of rubber declined from both periods. Imports of hides and skins continued to increase over a year ago, while the production of hides, as shown by slaughter of cattle, declined. Prices of hides turned downward in February after a long period of increase. The production of sole leather increased over both the previous month and a year ago, but unfilled orders for harness leather declined. Exports of leather continued far above those for last year and prices continued to increase. The output of shoes was slightly larger than a year ago, but exports declined. FUELS PAPER AND PRINTING Bituminous-coal production declined both from January and a year ago, exports showing similar The output of newsprint paper declined from last year, but the Canadian production showed a consid- THE FUEL INDUSTRIES [Relative numbers, monthly average 1923-1925 taken as 100. February, 1928, is latest month plotted where data were available] 1923 1924 1925 1926 1927 1928 1923 1924 1925 1926 1927 1928 1923 1924 1925 1926 1927 1928 CRUDE PETROLEUM , , IV J! , , I, , I, , I, , I , ,1, , I, , I, , I, ,il , ,1 , , K 1923 1924 1925 1926 1927 1928 tendencies. Prices showed little change from January but were less than in February, 1927. Anthracite production declined slightly from both periods, but exports were much larger than a year ago. Prices advanced slightly over January but were less than a year ago. A falling-off in beehive coke production from last year was counterbalanced by a gain in byproduct coke, although the comparison with January showed the reverse tendency. Exports of coke increased over both periods, while prices declined. The output of petroleum in February was smaller than in last year and slightly lower than in January. Prices of petroleum and its products showed little change from January. erable increase. Publishers consumed more than a year ago and imports were much greater. Mill stocks at both the United States and Canada were much higher than last year, publishers' stocks being slightly less. Production, shipments and new orders for boxboard were higher than last year, both for February and for the two months' total, while stocks and unfilled orders were smaller at the end of February than a year ago. Production of paper board shipping boxes was less than a year ago, both for February and for two months, but was much higher than the January output. New orders and shipments of sales books were greater than a year ago, while shipments of cash checks declined. 12 STONE AND CLAY PRODUCTS BUILDING Contracts awarded for new buildings, measured both in value and in floor space, were larger than in either the previous month or the corresponding month of 1927. Residential building, representing more than half of the total value, showed the largest relative gains over both periods, while the value of awards for new commercial and industrial buildings were smaller than in either prior period. Construction costs showed but little change from either" period. Fire losses were lower than in January but considerably larger than February, 1927. LUMBER AND LUMBER PRODUCTS The output of lumber was larger than a year ago, most of the principal species except Douglasfirshowing The output and shipments of face brick were larger than in the previous month, with shipments showing an increase also over last year. Stocks of face brick were larger than in either the previous month or February a year ago. Prices for common brick averaged higher than in January. The output of Portland cement was smaller than the previous month but considerably greater than last year, while cement stocks also showed a gain over a year ago. Production of plate glass was larger than in either prior period. New orders for terra cotta, measured in value, were larger than in either the previous month or February a year ago. THE AUTOMOBILE AND RUBBER INDUSTRIES [Relative numbers, monthly average 1923-1925 taken as 100. Where available, February, 1928, is latest month plotted] 500 400 300 i 200 A 1A 150 I 1m Vf 1922 1923 1921 1922 1924 1923 192- 1925 1926 1927 1925 1926 1928 1921928 increased production; increases were also made over January. Shipments of lumber by manufacturers were generally higher than in either the preceding month or February of last year. Stocks of lumber were generally higher than a year ago. Prices averaged higher than in the preceding month but were lower than a year earlier. Production of flooring, both oak and maple, was greater than the previous month. As compared with a year ago, the output of oak flooring increased but maple declined. Shipments of oak were larger than in either prior period, while maple flooring shipments showed declines for both periods. Stocks of oak were larger than a year ago, while maple stocks were smaller. f f rv ? » v -TRUCKS Airr OMOBIL E EXPO I I I I I I I I I I I I I I I I I , | | | | j | | | | | | | | 1 | | | | | | | | | | | 1 | | | | | 1 | | | | | | | [ 1 j | j | | | | | | [ | 1 | | 1 | | | | | [ | | | |10 | | [ 1 | | | | | 1921 w V in 10 I IQI A -,\ w'Ivv 1 1 A 80 20 A us TOTAL— 100 60 I 1 1111i 111! ii 11 In In hi i l l n l l i h , 1921 1922 1923 1924 1921 1922 1923 1924 1925 i. I n T . i I I I l u l u l u l l i 1925 M111111111 1926 1926 1111 11II 111 11111111111 1927 1928 1927 1928 CHEMICALS Imports of nitrate of soda were larger than in either the preceding month or the same month of last year, and exports of sulphuric acid, although greater than in January, were considerably smaller than a year ago. Exports of fertilizers were smaller than in either prior period, while exports of dyes showed gains over both periods except coal-tar dyes, which declined from last year. Production of crude methanol was smaller than either the previous month or February of last year, but the output of refined methanol, although lower than in the preceding month, was considerably greater than in February, 1927. 13 FOODSTUFFS AND TOBACCO The visible supply of wheat was substantially greater than a year ago, as were receipts and shipments. Exports of wheat from the United States showed declines from both the previous month and February a year ago. Wholesale prices were generally lower than in either prior period. The visible supply of corn was lower than a year ago, but receipts and shipments increased. Exports of corn were more than twice as large as in either the previous month or February a year ago. Corn prices were higher than in either prior period. The visible THE TOBACCO INDUSTRIES [Relative numbers, monthly average, 1923-1925, taken as 100. February, 1928, is latest month plotted] UNMANUFACTURED TOBACCO supply of oats was lower than a year ago, while receipts and prices were generally higher. The supply of barley also showed a decline from last year with prices averaging higher. Barley receipts at primary markets were smaller than in either the previous month or the same month of last year. The visible supply of rye showed a decline from a year ago, while rye prices were higher than in either the previous month or February of last year. Receipts and slaughter of cattle and calves were lower than in February, 1927, and storage holdings of beef products also declined. Wholesale prices for cattle and beef products averaged higher than a year ago. Receipts and slaughter of hogs were considerably larger than in February of last year, while storDigitized forage FRASER holdings of pork products were higher. Prices for hogs and pork products averaged lower than last year. Keceipts of sheep and lambs were larger than a year ago, while production and storage holdings of lamb and mutton were smaller. Prices for sheep and lamb averaged higher than last year. Receipts of poultry at principal markets were larger than a year earlier, while storage holdings were substantially lower. The total catch of fish, although greater than in January, was lower than February of last year, and storage holdings also declined. Receipts of butter were heavier than a year ago, with storage holdings almost twice as large, but prices TOBACCO i ilnh IIIIIIIIMI.IIMINIUIIIIII averaged lower. Receipts of cheese were lower than last year, while storage holdings and prices also declined. Receipts of eggs were larger than last year while storage holdings of case eggs were smaller. Imports and meltings of raw sugar were lower than a year ago, while stocks at refineries increased. Prices of sugar averaged lower than in either the preceding month or in February of last year. Imports of coffee, although smaller than in January, were larger than a year ago. The visible supply of coffee was greater than last year but prices averaged higher. Consumption of cigars was greater than in either the previous month or February of a year ago. Consumption of cigarettes and of manufactured tobacco and snuff was lower than in the previous month but higher than in February a year earlier. Exports of cigarettes and of leaf tobacco declined from both prior periods. 14 TRANSPORTATION Car loadings of freight, although larger than in January, were lower than a year ago, the decline from last year being very larely due to smaller loadings of coal and ore. Loadings of grain and grain products and livestock were larger than last year, while loadings of merchandise and goods in less than carloads were slightly smaller. Clearances of vessels plying foreign trade, although smaller than in January, showed larger tonnages than a year ago, with increases over last year larger in both American and foreign bottoms. Merchandise warehouse space was 79 per cent filled at the end of January. Total reserves showed practically no change from the previous month but were lower than a year ago while the reserve ratio, although slightly higher than in January, was lower than in February, 1927. Interest rates on commercial paper averaged higher than in either prior period. Call loan rates, although lower than in January, were higher than a year ago. Brokers7 loans were lower than in January but higher than a year ago, while stock prices made similar comparisons. GOLD, SILVER, AND FOREIGN EXCHANGE Domestic receipts of gold at the mint were lower than in January but greater than a year age. Imports of gold was substantially lower than in either prior WHOLESALE TRADE [Relative numbers, monthly average 1923-1925 taken as 100. February, 1928, is latest month plotted. Curves are adjusted for seasonal variation] 111 M 1 1 1 1 1 1 1 1 1 I I J I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 I 1 I I I I ! I I I I I I I I I I I I I I I 1 I I I 1 I 1 1 I I I 1 I I | I I I I I 1924 1925 1926 1927 1923 1928 1924 1925 111111111111111111111111111111111111 1926 1927 1928 100 DRUGS i ! In! lI M I I I 1, 1923 DISTRIBUTION MOVEMENT Postal receipts showed practically no change from the previous month but were larger than a year ago. Newspaper advertising declined from both the preceding month and February, 1927. Sales by the leading mail-order houses were generally larger than in either the previous month or the corresponding month of last year. Ten-cent store business was likewise higher than in either prior period. BANKING AND FINANCE Check payments, both in and outside New York City, were lower than in January but larger than a year ago. Loans and discounts of Federal reserve member banks, although lower than in the preceding month, were higher than a year ago. Bills discounted by Federal reserve banks showed an increase over both the preceding month and February of last year. 111 i 1 1 i 1 1 i i 11 1925 11 11 19: period, while gold exports, although lower than in January, were ten times as large as a year ago, the export balance in February contrasting with an import balance a year earlier. Production of silver was smaller than in either the previous month or in February, 1927. Imports of silver, although lower than in January, were greater than a year ago, while exports showed gains over both prior periods. The price of silver averaged lower than in either the preceding month or February of a year ago. Exchange on the principal foreign countries showed little change from the preceding month, but, as compared with a year ago, the Italian lira was substantially higher, while the Japanese yen showed a decline. Imports of merchandise into the United States showed larger values than either the preceding month or February of last year. Exports, although smaller than in January, were slightly larger than a year ago. 15 INDEXES OF BUSINESS The index numbers presented in this table are designed to show the trend in production, prices, trade, etc., by commodities or groups. They consist in general of weighted combinations of series of individual relative numbers; often the individual relative numbers are also given. The function of index and relative numbers is explained on the inside front cover. Many of the index numbers have been reworked to a comparable basis on the average of the years 1923 to 1925, while maxima and minima are given only since 1923, except on this page, thus eliminating the abnormal period prior to 1923. Other index numbers will be revised on the 1923 to 1925 base as soon as the limited printing appropriations will allow their presentation in complete form. 1928 1927 Maxi- Minimum 1 mum since since Jan. 1, Jan. l, i Febru- Novem- Decem- January Febru1920 January ary 1920 ary ber ber PER CENT INCREASE ( + ) OR DECREASE (—) February, 1928, from January, 1928 February, 1928, from February, 1927 PRODUCTION (Relative to 1919 monthly average as 100) RAW MATERIALS 180 73 122 108 148 127 113 107 -5.3 -0.9 165 256 155 122 273 152 193 149 131 145 62 105 41 0 0 17 78 38 57 80 147 227 147 89 0 151 183 136 82 110 137 215 136 80 0 137 171 136 67 105 135 234 105 94 51 135 184 130 93 106 130 235 106 82 0 133 182 139 77 106 131 229 114 77 0 136 175 139 78 104 124 215 106 75 0 134 178 133 73 95 -5.3 -6. 1 -7.0 -2.6 -9.5 138 314 143 177 153 245 390 192 190 80 19 58 64 54 30 21 45 94 111 34 89 114 77 82 140 105 142 99 36 76 89 66 99 96 112 132 124 51 114 98 84 51 310 122 145 123 49 82 113 71 51 355 79 145 117 45 86 142 75 73 148 113 146 113 36 74 141 74 111 105 108 139 -5.1 -20.0 -14.0 49 43 58 50 12 18 132 104 127 96 150 113 103 89 119 94 118 100 173 130 149 152 244 147 129 122 102 89 155 106 104 115 143 70 87 111 93 124 148 67 59 62 -10.6 - 246 242 254 405 346 170 -4.3 -32.2 -44. 1 -9.7 + 39.3 + 25.4 -28.7 -50.0 -38.0 Total Lumber Pulp wood _ - Gum (rosin and turpentine)* Distilled wood _ . « 136 137 164 356 149 61 59 51 20 24 98 101 79 61 116 103 107 90 42 100 117 110 120 251 103 106 101 119 198 94 101 102 107 64 97 108 114 90 44 108 + 6.9 + 11.8 -15.9 -31.3 + 11.3 +4.9 + 6.5 0.0 + 4.8 + 8.0 Grand total (adjusted for working days) Grand total (unadjusted) Foodstuffs Textiles Iron and steel Lumber Leather Paper and printing . _ Chemicals, oils, etc . - __ Stone and clay products Metals, excepting iron and steel Tobacco Miscellaneous 138 142 135 133 152 166 115 127 211 190 195 147 164 71 68 77 54 32 57 63 69 92 69 71 70 37 117 117 103 115 126 123 80 118 198 90 160 115 105 129 119 94 113 126 127 86 106 176 90 150 107 126 111 111 107 118 104 127 83 102 206 155 139 135 74 105 105 107 103 106 118 79 104 199 131 129 103 77 118 118 117 111 130 122 83 104 187 104 144 120 103 130 125 126 112 132 135 89 98 176 99 144 116 124 + 10.2 +5.9 +7.7 +.9 + 1.5 + 10.7 +7.2 +0.8 +5.0 Grand total __ MINERALS Total Petroleum. _ Bituminous coal. Anthracite coal Iron ore* Copper Lead._ Zinc Gold Silver _ 0 -1.5 + 1.7 -4.3 -6.4 -8.7 0.0 -22.1 -6.2 0 -2.2 + 4.1 -2.2 + 9.0 -9.5 ANIMAL PRODUCTS (marketings) Total Wool* Cattle and calves Hogs Sheep Eggs* Poultrv . -. Fish Milk (New York) _ _ . . - __. -.7 -1.3 + 52. 1 -29. 1 -4.6 -4.8 + 14.1 0 -2.6 + 58.4 + 12. 1 + 12. 1 + 9.4 -3.6 + 5.3 CROPS (marketings) Total Grains* Vegetables* Fruits* Cotton products* Miscellaneous crops* + 7.8 +3.5 FOREST PRODUCTS MANUFACTURING * Fluctuations between maximum and minimum due largely to seasonal conditions. -5.8 —5. 9 -4.8 0 -3.3 + 20.4 +34.0 —.9 +4.8 + 6.3 +3.5 -7.5 0.0 + 11.0 -4.0 +8.4 -1.6 16 INDEXES OF BUSINESS—Continued 1937 Maxi- PER CENT INCREASE (-f) OR DECREASE (—) 1928 Mini- mum mum since since Jan. 1, Jan. 1, January Febru- Novem- Decem- January February ber ber ary 1923 1923 February, 1928, from January, 1928 February, 1928, from February, 1927 STOCKS (Relative to 1923-1925 monthly average as 100) (Corrected for seasonal variation) Total Raw foodstuffs Raw materials for manufacture Manufactured foodstuffs Other manufactured commodities + 153 222 170 118 141 84 72 71 84 73 140 164 159 86 130 143 178 156 84 127 140 164 158 94 130 141 166 157 89 127 138 134 170 91 141 145 168 159 95 137 + 5.1 + 25.4 -6. 5 + 4. 4 -2. 8 -5.6 + 1.9 + 13. 1 + 7.9 151 197 196 132 138 77 60 64 79 74 144 176 165 87 127 147 193 153 85 128 141 138 196 92 133 145 157 185 84 136 142 155 169 90 137 151 189 149 96 138 + 6.3 + 21.9 -11.8 6. 7 0. 7 + 2.7 -2. 1 -2.6 + 12.9 + 7.8 157 154 157 204 142 67 62 66 53 56 83 85 80 91 83 82 91 76 91 80 67 76 71 51 61 72 69 85 57 56 81 77 89 64 79 80 90 64 76 + 1.2 + 3.9 + 1. 1 0 -3.8 -0.0 -12.1 + 18.4 124 119 125 128 167 188 128 118 125 129 82 86 87 71 43 26 68 82 88 72 87 86 113 78 68 71 92 82 102 91 81 107 88 128 95 85 82 94 96 93 100 101 88 63 45 110 98 112 104 82 91 102 70 50 39 82 90 99 85 87 85 106 85 76 65 94 83 106 91 92 85 108 89 128 88 87 82 101 89 + 5.7 0 + 1.9 + 4.7 + 68.4 + 35.4 -7.4 -1.2 -4.7 -2.2 1.1 4.9 0.9 1.1 0 -7.4 + 2.4 0 + 7.4 -7.3 156 64 103 101 149 167 105 108 250 192 169 160 161 163 62 82 79 70 55 96 155 134 97 95 82 104 148 129 99 103 84 146 189 144 105 125 118 279 202 182 156 164 178 104 188 146 90 100 87 115 194 148 96 106 86 +2.9 + 10.6 + 3.2 + 1.4 + 6.7 + 1.1 + 5.7 +6.9 + 10.6 + 31. 1 + 14. 7 -3.0 + 2.9 +2.4 186 117 71 83 89 92 83 97 122 116 186 96 88 91 85 97 -3.4 + 6.6 + 2.4 0 109 112 114 114 107 112 106 111 107 90 90 85 87 86 88 97 88 91 95 93 95 97 88 97 104 103 91 97 92 97 99 87 98 104 105 93 92 95 94 88 87 90 105 96 95 91 94 94 87 83 88 105 95 91 90 91 93 87 80 92 104 94 85 91 92 94 89 80 104 103 + + + + 1.1 1. 1 1. 1 2.3 0 + 13. 0 -1.0 + 4.3 + 1.2 -6.2 0 -3.1 110 108 110 115 87 82 82 86 96 82 87 108 96 88 92 110 90 93 82 96 89 89 83 97 87 82 85 96 90 85 89 94 + 3.4 + 3.7 + 4.7 -2. 1 (Unadjusted index) Total--.. Raw foodstuffs Raw materials for manufacture Manufactured foodstuffs Other manufactured commodities UNFILLED ORDERS (Relative to 1923-1925 monthly average as 100) Total Textiles Iron and steel Vehicles Lumber -29.7 -5.0 WHOLESALE TRADE (Relative to 1923-1925 monthly average as 100) Grand total, all classes Groceries Meats Dry goods Men's clothing Women's clothing Boots and shoes Hardware Drugs Furniture RETAIL TRADE . + + + + (Relative to 1923-1925 monthly average as 100) MAIL-ORDER HOUSES (4 houses) CHAIN STORES: Ten-cent (14 chains) Grocery (34 chains) Drug (14 chains) Cigar (4 chains) Candy (4 chains) Shoe (7 chains) DEPARTMENT STORES: Sales* Stocks* EMPLOYMENT 77 (Relative to 1923-1925 monthly average as 100) Number employed, by industries: Total, all classes Food products Textiles Iron and steel Lumber Leather Paper and printing Chemicals Stone, clay, and glass Metal products other than iron and steel Tobacco products Vehicles Miscellaneous • See tables on p . 20 of this issue for previous data. -IO.I -8. 0 + 6.1 -1.0 -6.7 -7.5 I i ! | ! I ! — 6. 2 ! -3.4 -3.3 -14.5 17 INDEXES OF BUSINESS—Continued 1927 PER CENT INCREASE ( + OR DECREASE (—) 1928 Maximum since Jan. 1, 1923 Minimum since Jan. 1, 1923 111 108 115 117 107 117 114 114 111 114 111 114 119 85 90 78 79 84 84 94 89 84 81 81 79 86 96 96 96 99 88 94 110 106 90 95 81 79 113 102 95 102 104 91 100 111 110 97 99 84 95 115 98 94 88 94 81 112 101 97 88 95 84 97 94 97 95 90 89 83 114 102 93 90 92 86 105 152 178 253 154 166 252 108 108 108 98 122 81 79 126 120 140 140 152 85 87 127 122 142 143 143 94 84 137 120 136 141 153 162 86 105 114 106 124 114 112 113 116 104 111 127 94 94 85 98 94 84 97 90 95 98 87 97 97 97 101 94 98 99 98 98 98 90 95 96 100 95 96 98 96 98 98 91 105 112 85 95 98 97 173 167 186 177 179 208 123 176 158 141 167 160 156 174 118 171 167 159 173 173 168 192 121 174 I Novem- Decem- January FebruJanuary Februber ber ary ary February, 1928 from January, 1928 February, 1928 from February, 1927 91 95 93 87 81 88 111 100 86 87 82 83 100 95 97 96 95 84 93 110 102 88 93 83 94 97 + 4.4 + 2.1 + 3.2 + 9.2 +3.7 +5.7 -.9 + 2.0 + 2.3 + 6.9 + 1.2 + 13.3 -3.0 -6.9 + 2.1 -5.9 -8.7 -7.7 -7. 0 -.9 -7.3 -9.3 -6. 1 -1.2 -1. 1 -15.7 137 123 141 138 158 153 90 137 125 144 138 154 152 91 135 128 153 139 144 141 90 -1.5 + 2.4 + 6.3 +.7 -6.5 -6.2 — 1.1 + 6.3 + 4.9 + 7.7 -2.8 +.7 + 50.0 + 7.1 97 104 102 114 98 83 97 90 97 99 97 104 101 117 97 83 98 90 97 99 89 96 106 99 121 97 81 98 91 96 99 89 96 105 99 124 97 81 98 91 96 98 87 0.0 -.9 0 +2.5 0 0 0 0 0 -1.0 -2.2 0.0 + 10. 5 + 3.1 +24.0 + 2.1 — 15. 6 0 -5.2 -2.0 0 -4.4 97 97 103 105 102 105 102 105 103 103 + 1.0 -1.9 + 6.2 + 6.2 165 156 172 172 167 190 121 174 164 157 167 171 163 184 122 173 164 156 166 171 163 184 122 173 163 155 166 172 163 184 122 172 162 152 165 171 163 184 122 172 -.6 -1.9 -.6 -.6 0. 0 0 0 -1.8 -2.6 -4. 1 -.6 -2.4 -3.2 EMPLOYMENT—Continued. (Relative to 1923-1925 monthly average as 100) Amount of pay roll, by industries: Total, all classes Food products Textiles Iron and steel Lumber Leather Paper and printing Chemicals Stone, clay, and glass Metal products other than iron and steel Tobacco products .. Vehicles Miscellaneous PRICE INDEX NUMBERS FARM PRICES (Relative to 1909-1914 average as 100) All groups Grains Fruits and vegetables Meat animals Dairy and poultry Cotton and cottonseed Unclassified WHOLESALE PRICES Department of Labor Indexes (Relative to 1926) All commodities Farm products Food, etc Hides and leather products Textile products Fuel and lighting Metals and metal products Building materials Chemicals House-furnishing goods Miscellaneous Commercial Indexes (Relative to 1926 monthly average as 100) Dun's Bradstreet's ^ COST OF LIVING National Industrial Conference Board Indexes (Relative to July, 1914) All items weighted Food (Dept. Labor) Shelter Clothing Fuel and light (combined) Fuel Light Sundries 95561—28- +.8 -1. 1 18 MISCELLANEOUS DATA (In number of doors) MONTH January February January 10,756 12,465 111,313 94,534 (Packaged) (Per cent of rooms occupied) WHITE-PINE DOORS Receipts ... Shipments Stocks, end of month Unsold stocks _ SALES OF RUBBER BANDS l HOTEL ROOM OCCUPANCY * DOORS AT WHOLESALE, 1928 * 18,763 19,309 116,234 88, 582 February 9,175 18,069 15,524 80,340 65,764 47,601 41,637 1 Compiled by the Wholesale Sash and Door Association from reports of 20 firms in January and 25 in February. October November December January February. _ 72 73 66 72 71 76 74 67 71 72 i Compiled by Horwath & Horwath from reports of more than 100 hotels throughout the country. Data include both transient and residential hotels. RADIO STOCKS IN DEALERS' HANDS l Pounds MONTH 1926-27 1927-28 1927 196,201 181,046 192,926 Number of dealers Receiving sets: Battery-operated.. A.-C. operated Loud speakers: Ordinary Amplified Batteries: Storage. Dry 7,482 7,737 65,921 6,987 62, 778 25, 584 63,861 3,280 74,771 3,054 52,242 42,500 246,143 226,835 Socket power units (eliminators): Total.. Receiving tubes: Battery A.-C Rectifying tubes: Total-. 41,332 49, 753 494,561 522,806 29,278 115,004 36,208 39,813 January... February. 217, 798 i Compiled by the Rubber Association o) America {Inc.), Rubber Sundries Manufacturers' Division. From data reported by 8 manufacturers estimated to represent 80 per cent of the industry. GAS-FIRED BOILERS: JANUARY, 1928 * CEMENT PRODUCTION Oct. 1, Jan. 1, 1927 1928 Pounds 1928 October November December (Ratio to capacity) Oct. 1, Jan. 1, 1927 1928 MONTH MONTH 1927 1928 MONTH 1927 ITEM January February.March April May June 45.1 44.6 61 9 78.1 88.9 93.1 49.4 47.5 July August SeptemberOctober November December. . 90.4 94.5 92.3 87.4 75.9 60.7 Shipments (dollars) Shipments (thous. B. t.u.) _ Production (thous. B t.u.) Stocks, end mo. (thous. B. t.u.) i Compiled by the U. S. Department of Commerce, Bureau of Mines, representing the relation of cement production to the estimated capacity of the entire industry. 1 Compiled by U. S. Department of Commerce, Bureau of Foreign and Domestic Commerce, with the cooperation of the National Electrical Manufacturers* Association, Radio Division. Detailed data by States are given in the press releases issued by the Department of Commerce. ; Boilers 96, 589 132,733 846,845 i Compiled by the Gas Heating Boiler and Furnace Association from reports of 8 manufacturers, estimated to represent about 75 per cent of the industry. Total shipments for previous years were as follows: 1925, $1,100,752; 1926, $2,293,345: 1927, $2,702,799. CANADIAN PASSENGER-CAR PRODUCTION [Number of vehicles] 1913 1914 1915 1916 1917 1918 1919 1920 January February March... April 1,415 1,562 2,273 2,717 2,054 2,549 3,061 2,496 1,854 3,558 4,459 4,992 5,299 6,833 6,620 5,544 6,855 9,543 9,853 6,147 5,681 9,482 10,378 2,895 2,482 4,557 6,151 6,324 8,544 9,254 May June July August.. 1,907 1,470 1,483 1,238 2,160 4,151 2,167 3, 700 1,196 I 2,719 824 i 4,101 6,944 3,566 2,666 3,263 12, 071 9,635 8,014 5,998 10,124 5,733 5,879 4,619 September October November December 588 750 939 1,176 368 517 370 360 4,494 3,480 2,791 2,743 6,273 4,988 1,992 2,223 7,216 7,288 6,552 6,054 4,163 5,313 3,598 3,972 17, 518 1,452 18, 022 1,502 38,934 3,245 55, 659 4,638 94,623 75, 089 6,257 Total Monthly average.. 1922 1923 1924 7,862 2,358 3,711 6,608 7,978 4,629 6,907 9,892 10, 640 9,341 10, 910 13, 742 14,331 9,841 12, 072 15,194 14, 448 9,749 9,789 9,172 7,374 10, 075 9,872 10, 290 5,349 10, 334 7,702 5,360 3,725 12,195 10,423 6,731 6,266 16, 705 13, 299 10,475 8,742 7,409 5,528 4,513 3,447 2,577 4,026 2,899 2,777 3,618 6,671 5,868 7,145 7,537 8,272 79,933 | 83,635 6,661 I 6,970 61,096 5,091 94,904 7,909 129, 228 10, 769 6,430 ; 7,116 ! 7,964 7,602 7,845 1926 1927 8,301 10, 779 13, 014 15, 515 11, 781 14, 761 17, 989 17,929 11, 745 14,826 19,723 20, 890 15,291 10,757 8,619 5,436 18,351 14,249 11,140 7,430 21,429 18,818 12,953 12, 778 21,991 16,470 8,719 10,139 6,357 5,962 7,200 10,372 13,921 8,741 7,498 13,347 10, 595 6,774 6,052 8,681 6,236 5,173 2,277 139,311 11,609 165, 206 13, 767 146,870 12,239 117, 765 9,814 1 Data prior to 1922 represent prorated figures compiled by Babson's Statistical Organization (Inc.) from actual monthly reports of individual companies estimated to represent 90 per cent of the total passenger-car production during those years. Data since 1921 compiled by the Department of Trade and Commerce, Dominion Bureau of Stattstics, covering actual production or factory sales for the entire country. 19 REVISED INDEX OF MINERAL PRODUCTION [Relative to 1923-1925 monthly average=100] ft* ft complete, but these have been prorated to 100 per cent to compare with the later data. The sources and weightings are summarized below: COMMODITY Petroleum Bituminous coal.. Anthracite cosl Iron ore... Copper Lead Zinc Gold Silver nc itu u | 4 1 11 1 n MONTH ore As part of the program to bring the general index numbers to a common postwar base, the index of mineral production has now been shifted to the average for the years 1923 to 1925, which has been adopted by most compilers of index numbers. New weightings have been calculated, based on the average values of mine production of each commodity shown in the reports of the United States Geological Survey for the years 1923 to 1925, in ten millions of dollars. The same commodities and sources have been used as in the original index, and the index is constructed in the same manner. (See issues for May, 1922, and September, 1922.) All the series cover practically complete production in their respective lines, except iron ore (about 85 per cent complete), and gold (about 40 per cent complete). Prior to 1927, lead figures were only about 85 per cent N M Item used Production Shipments from mines do Shipments through upper Lake ports. Mine production-__ Production of crude lead Refined production less imports. Domestic receipts at mint... Mine production. _. 85 74 84 72 87 94 96 99 91 101 94 Monthly average. 114 94 110 89 92 106 106 115 115 122 121 122 111 95 118 93 119 122 124 120 70 121 112 124 109 111 I 113 ! Monthly average- 95 72 71 65 78 80 71 81 82 103 85 73 73 64 114 118 117 118 115 120 108 111 109 116 105 92 91 101 5 161 214 223 214 206 205 125 82 86 82 77 76 70 ! 84 97 101 97 101 102 98 99 93 94 121 109 95 70 74 72 77 83 97 111 97 106 114 110 117 98 112 111 112 102 110 111 98 107 97 93 109 76 76 81 82 77 73 101 107 64 147 114 104 4 60 83 94 100 91 75 112 j 43 ! 30 I Monthly average . 72 75 91 46 54 61 60 66 86 98 94 92 70 67 76 73 76 74 76 76 74 78 77 82 86 94 115 36 47 51 39 51 94 104 104 107 93 100 130 0 1 1 2 2 74 127 126 125 75 75 77 65 39 103 115 84 81 76 74 76 79 89 72 74 Monthly average 22 9 7 5 5 15 152 175 168 155 143 129 82 | 104 97 107 95 102 97 98 100 97 109 105 110 109 97 105 99 105 96 95 85 83 93 93 102 85 103 94 90 90 75 103 106 123 145 122 104 112 104 89 107 92 93 102 104 106 106 107 100 102 97 103 101 113 106 116 104 111 106 106 109 105 119 114 120 110 103 113 101 105 101 105 102 104 103 111 115 100 92 87 96 81 82 106 100 90 147 118 108 104 101 100 99 100 100 97 98 101 97 105 104 103 92 103 98 88 89 91 100 91 101 105 112 104 110 109 110 114 110 96 | 107 102 106 94 101 91 100 119 89 86 77 81 85 90 103 107 121 116 121 107 104 102 108 118 113 123 134 1 1 2 3 49 192 184 197 197 170 162 98 0 113 105 114 107 107 106 104 103 103 108 102 106 104 100 76 104 106 111 106 101 108 103 115 111 112 108 110 109 110 114 114 110 118 110 121 108 116 110 111 114 110 124 120 125 124 110 116 115 118 105 104 113 113 117 115 121 85 67 86 80 78 95 112 128 125 119 101 99 3 37 153 207 208 157 141 104 99 103 101 93 91 88 92 96 1926 87 76 81 82 94 88 106 118 103 137 120 95 74 73 79 79 80 90 82 105 100 97 92 95 20 28 47 58 70 72 71 76 72 78 77 79 78 74 80 72 78 74 74 76 72 82 80 84 52 50 58 56 60 63 70 69 72 83 79 90 62 .77 67 89 84 92 82 88 84 84 86 83 94 91 95 102 94 107 103 103 94 95 92 86 92 97 102 80 83 74 75 92 80 106 114 122 103 124 104 115 125 129 96 102 100 94 102 92 90 88 97 96 103 87 91 85 101 95 102 103 109 ! 101 106 112 117 109 107 117 125 ! 114 114 120 115 118 122 106 105 91 89 96 99 106 112 124 136 131 31 129 121 119 132 124 121 124 128 110 111 107 105 110 104 110 1927 116 112 104 115 97 108 108 103 115 110 114 103 116 111 123 118 124 121 128 127 122 126 120 121 131 121 138 80 81 84 77 101 93 95 97 87 90 106 119 108 75 115 98 110 102 89 116 105 105 108 109 105 99 102 100 106 103 102 116 106 120 118 112 114 112 109 104 110 113 111 113 113 117 113 111 105 105 110 105 111 108 115 93 76 85 79 77 76 105 105 118 111 105 87 91 93 91 97 88 94 95 95 107 121 99 100 105 112 110 93 93 1923 January February... March April May June July August SeptemberOctober November.. December.. 122 44 18 1925 1922 January February... March April May. _. June July August September.. October November.. December. . Lake Superior Iron Ore Association. Am. Bu. of Metal Stat_ do — Am. Zinc Institute Bureau of the Mint Am. Bu. of Metal Stat. 1924 102 96 95 83 95 94 97 97 102 108 94 1921 January February... March April May June July August SeptemberOctober NovemberDecember.. no do 1 1920 January February... March. April May June July August SeptemberOctober NovemberDecember.. Weight Source Bureau of Mines do 99 87 100 95 110 112 114 119 103 117 105 93 86 79 93 96 102 102 107 108 106 110 107 97 119 100 111 101 110 108 107 116 110 117 102 95 126 113 136 117 124 126 121 128 42 126 112 112 0 154 220 241 238 210 187 114 0 85 78 92 90 95 95 96 100 94 100 97 98 105 99 108 115 114 93 0 141 203 231 248 222 216 91 1 36 179 196 199 203 167 155 46 97 95 93 96 90 106 94 20 DEPARTMENT-STORE SALES AND STOCKS » 11923-1925 monthly average=100] San Francisco DaUas Kansas City > Minneapolis St. Louis Chicago Atlanta Richmond Cleveland Un- Ad- adjust- usted ed New York United States Boston 3 San Francisco as Dallas Minneapolis St. Louis Chicago Atlanta Richmond Cleveland Philadelphia New York Un- Ad- adust- usted ed Boston United States YEAR AND MONTH Philadelphia STOCKS, END OF MONTH SALES 1919 January February March... April May__ June July August September October.. November December 70 71 72 74 61 55 66 78 60 54 66 79 57 62 75 68 63 64 88 61 54 66 76 67 61 79 87 68 71 87 90 84 69 93 98 78 69 96 89 50 44 57 62 73 71 70 70 65 68 72 73 70 71 75 77 64 66 72 73 66 63 64 63 62 66 70 71 66 66 81 73 75 77 78 76 72 81 86 86 75 79 87 85 61 63 65 67 72 78 80 80 75 74 60 62 80 76 58 62 73 7?, 56 54 70 73 57 57 74 74 62 67 83 82 63 59 92 83 76 72 96 95 76 81 91 89 71 73 64 61 59 66 70 72 78 85 72 70 72 81 76 73 75 82 71 69 72 81 59 60 60 59 70 70 71 80 69 68 72 86 73 70 72 82 95 81 94 94 91 86 80 91 66 80 80 87 83 74 94 95 139 74 96 93 138 103 70 118 83 120 75 177 126 88 92 88 97 88 100 93 87 94 104 107 93 92 98 103 92 67 68 68 64 91 94 96 84 102 93 107 100 106 101 86 87 94 104 106 88 99 105 102 88 87 9? 0? 81 78 78 76 79 77 84 94 93 98 68 79 83 79 63 77 82 90 89 74 84 63 92 85 68 92 81 72 93 85 71 99 73 65 96 93 81 112 96 75 105 103 90 127 75 60 79 84 92 88 101 99 113 73 74 79 95 105 113 88 93 91 101 109 S? 9? Oft 91 118 103 116 79 80 89 95 93 101 104 105 114 108 96 92 97 86 101 96 103 107 92 84 69 95 92 106 110 102 115 79 110 116 110 114 111 105 100 100 96 100 107 101 92 122 106 121 84 105 107 no 90 116 89 80 72 106 103 110 102 105 105 77 77 105 104 103 104 63 83 70 90 88 113 108 94 110 78 111 108 119 no 115 98 95 74 82 120 123 68 107 111 109 67 95 91 95 110 88 90 120 98 98 74 116 101 82 110 93 69 100 69 114 97 75 98 71 77 107 98 99 101 109 92 92 85 104 84 98 79 103 79 102 92 106 83 105 102 136 105 113 113 135 81 90 113 108 117 119 105 108 119 120 83 80 120 125 119 119 95 109 87 145 103 139 108 118 111 112 130 145 139 148 159 175 113 150 133 ;;;;; 133 106 115 87 93 76 66 118 109 95 83 94 91 91 93 98 93 113 81 71 92 89 84 67 95 92 81 70 89 88 82 76 92 93 88 77 97 92 76 69 98 89 86 83 110 95 71 76 92 91 89 67 86 84 89 88 88 88 87 63 92 96 62 85 87 60 89 89 63 91 87 63 88 93 65 100 91 70 M o . av 73 71 73 78 91 97 92 89 95 108 96 110 91 100 115 142 135 134 150 174 89 104 98 135 1 82 70 79 1920 January February March... April 96 89 98 May June July August September October November December M o . av 1931 January February March April 96 May June July August . . — 139 98 120 121 151 149 104 105 126 94 117 91 135 101 91 81 111 120 96 137 85 174 130 100 113 96 90 105 97 108 77 106 107 113 105 117 83 88 75 102 110 91 85 110 96 74 64 79 75 87 81 82 88 90 82 86 92 94 71 76 83 83 77 82 89 93 73 79 85 88 89 94 97 99 67 86 85 87 78 82 88 90 73 70 100 90 75 81 82 76 85 87 79 86 94 93 83 92 97 98 75 78 8? 85 86 81 66 101 86 62 100 99 78 101 97 70 79 74 64 87 88 90 89 85 84 88 85 83 92 89 86 83 80 79 91 88 86 86 82 80 97 91 90 84 82 77 94 92 91 85 81 83 78 94 92 89 69 80 77 77 93 89 84 89 83 91 87 96 84 79 97 103 91 90 112 74 85 93 91 96 100 93 99 98 102 91 95 98 100 99 102 108 113 90 93 103 106 110 110 103 79 147 125 87 91 94 95 89 101 88 83 103 87 104 88 96 78 101 83 106 110 82 91 90 75 92 106 76 90 110 83 96 79 89 88 92 83 90 88 98 81 82 94 97 85 87 89 86 89 96 82 90 97 — ..... — — — 97 79 83 66 64 60 67 65 64 72 67 66 84 September.__ _. October 79 86 73 97 77 100 70 105 69 98 69 91 70 101 79 115 77 102 92 103 November December 83 82 95 138 96 147 100 106 148 145 87 100 128 152 103 148 76 87 87 89 M o av — 87 102 99 122 149 131 1922 January February March April . .. ._ 85 83 85 71 79 75 77 67 64 71 67 69 76 74 67 85 85 89 72 79 87 69 84 85 8? 67 83 71 84 62 78 63 80 70 81 59 73 67 84 63 83 71 89 57 75 70 65 87 90 89 88 80 65 81 84 91 89 94 86 95 87 88 81 89 86 93 95 101 77 83 77 84 91 89 89 97 84 91 88 89 97 90 94 90 89 94 86 87 99 86 76 87 91 96 96 84 90 92 100 83 81 93 96 92 May 87 90 96 89 90 90 87 93 89 92 95 95 89 86 88 94 92 84 87 88 96 80 82 93 94 88 June July August . . 88 87 97 87 89 86 86 84 84 86 90 86 77 87 85 90 89 86 84 84 90 76 77 89 85 87 87 64 63 70 1 69 60 63 60 68 65 72 59 C3 66 71 64 70 62 69 73 83 64 66 67 83 88 89 82 86 87 89 85 88 81 84 80 83 82 85 88 94 75 82 78 83 87 91 83 91 83 84 86 September October 90 84 91 103 92 105 93 150 89 105 106 153 101 78 102 95 103 92 147 142 90 93 88 96 89 100 90 85 100 105 109 93 97 99 105 89 93 98 104 88 90 96 102 94 105 104 97 105 106 82 87 87 86 90 91 76 88 97 91 101 90 10? 77 85 97 100 99 80 9092 96 84 88 92 89 91 87 86 90 83 88 94 92 89 86 90 96 81 82 93 91 88 80 83 82 82 79 75 78 83 89 85 87 77 85 90 77 72 86 80 83 72 99 94 71 96 99 68 80 74 68 75 93 105 105 106 101 92 92 99 90 97 98 102 102 101 98 71 99 79 102 106 69 77 100 113 161 89 111 112 164 85 121 115 164 83 118 129 166 91 116 109 158 81 118 117 170 91 128 117 162 95 114 109 154 101 117 111 157 97 112 105 148 98 98 96 101 100 97 100 98 99 99 November December M o av 82 79 82 78 82 87 92 94 110 103 102 10? 110 95 107 105 107 118 100 106 107 100 108 102 154 156 147 158 155 142 151 148 — 85 89 93 90 78 76 83 80 79 71 76 69 96 105 96 98 96 106 71 97 89 70 92 85 1923 January February » March. . April May June July. _ August September October November December M o . av ._ 91 93 99 97 89 .. 100 117 99 100 See footnotes at end o table. 97 102 106 99 104 102 100 105 97 105 106 102 101 102 102 100 66 68 74 68 74 71 70 75 69 75 87 68 79 88 76 91 — 93 94 95 97 105 101 97 91 88 1 96 67 81 97 68 94 100 101 121 111 154 88 110 100 163 96 96 101 100 101 100 89 1 92 88 89 88 94 96 90 98 99 97 100 96 102 103 99 100 101 100 100 100 105 105 100 88 94 93 104 96 102 98 101 104 98 93 97 98 91 91 9?, 97 89 96 96 103 100 93 102 86 96 89 94 95 99 99 ! 101 94 93 90 89 94 96 99 100 93 94 90 87 94 93 90 87 97 95 99 100 97 92 91 101 97 93 93 98 105 111 114 94 105 115 118 100 105 112 114 96 104 111 116 96 104 111 114 93 108 117 118 93 112 117 115 94 107 109 114 93 102 105 106 87 105 111 110 90 107 109 108 89 103 107 110 93 98 100 98 98 97 101 103 97 93 99 97 97 21 DEPARTMENT-STORE SALES AND STOCKS ^Continued [1923-1925 monthly average=100] 1 99 87 __ 105 82 99 91 99 104 May . June July August.. 97 100 100 94 96 72 95 74 September _. _.100 93 95 111 October 101 111 November. 100 168 December. Mo. av 99 1925 January February March April 98 86 103 80 103 95 102 106 May June July August 101 100 100 99 100 75 . .-101 78 September. . _.102 95 110 129 October 104 114 November 106 178 December 99 99 98 98 98 99 100 99 101 102 100 101 103 91 90 83 83 79 80 82 83 87 83 91 90 77 81 81 81 78 81 78 80 76 80 87 79 91 92 96 96 99 95 94 99 93 97 104 98 107 104 105 110 109 104 109 110 112 105 104 102 102 90 101 96 101 104 101 106 93 92 87 86 91 91 91 89 90 85 88 93 94 95 95 97 94 93 97 96 96 96 98 96 103 104 108 106 103 98 105 105 106 103 105 102 104 106 105 108 102 100 105 107 106 104 107 104 100 102 100 97 101 94 102 98 102 103 101 105 97 99 97 99 91 94 91 93 93 97 95 98 100 100 105 100 75 73 71 71 95 101 99 103 103 99 99 102 93 102 69 76 76 74 77 69 80 72 74 83 95 103 93 99 71 77 78 88 95 100 96 105 105 94 94 95 73 71 87 81 73 100 99 97 91 92 101 93 97 85 89 88 84 106 124 140 124 124 133 135 128 110 121 122 104 124 116 113 179 188 174 169 194 179 178 100 139 113 177 103 97 133 118 110 110 173 178 102 106 101 111 102 115 103 97 102 109 114 96 108 105 106 104 103 107 111 107 107 112 105 113 111 109 115 105 113 113 109 111 113 111 119 117 113 117 105 117 119 111 112 112 112 101 99 95 96 85 99 99 91 93 88 102 105 103 102 100 104 105 101 100 103 100 101 104 102 104 100 130 102 161 100 123 104 164 101 99 96 102 104 101 »100 106 89 104 81 101 102 103 103 101 94 86 83 87 86 87 85 85 74 83 78 81 78 87 86 85 76 95 98 103 98 107 103 107 105 93 104 103 98 10?, 103 106 107 108 107 79 91 91 73 90 82 92 107 109 94 103 104 105 93 103 98 104 107 103 107 91 99 93 87 91 94 95 93 91 94 99 95 96 97 94 102 97 96 102 109 106 106 105 103 107 106 104 103 111 103 104 107 104 107 111 104 107 107 ._ 102 101 104 78 107 83 104 106 105 106 108 114 116 105 101 105 104 98 97 102 101 106 96 92 77 76 70 78 78 77 84 72 81 76 78 71 85 77 80 89 81 84 92 112 107 90 103 99 72 76 91 76 87 107 101 103 101 98 101 94 101 97 101 107 96 101 91 98 90 99 103 98 109 109 109 103 127 118 101 107 121 116 152 164 178 193 103 107 103 114 104 117 102 96 103 111 117 98 M o . av _ 102 97 102 105 103 100 104 70? 91 96 99 97 94 93 97 87 94 98 94 93 93 97 96 100 105 100 102 103 101 1926 January February March April 109 110 106 110 San Francisco 101 99 103 September October November December Dallas 100 2 99 102 99 100 Mo. av May June... July August Kansas City' Minneapolis Boston New York 99 St. Louis 103 105 104 105 103 103 105 107 104 103 110 105 110 113 112 113 112 110 113 114 111 109 114 111 115 114 115 112 113 107 108 113 112 109 112 112 97 97 96 94 92 84 94 93 92 87 89 93 Chicago 101 105 101 111 100 113 100 94 90 95 84 91 89 91 97 110 122 110 103 114 118 100 108 116 118 107 118 107 112 171 174 172 161 182 165 158 96 105 92 94 69 78 71 85 Atlanta 100 98 100 112 90 111 105 107 122 108 110 109 104 111 100 167 157 160 166 167 99 91 73 79 Richmond 103 100 101 108 102 107 102 107 103 100 103 105 97 94 94 100 96 99 97 100 96 93 96 100 94 90 90 94 91 95 94 98 93 91 94 98 93 94 93 96 90 94 98 103 97 97 104 98 98 104 98 90 71 70 64 71 a rt Ad- Unadjust-ijusted ed Cleveland 102 104 100 97 100 93 100 96 99 102 97 96 69 72 69 78 02 Philadelphia 94 105 101 88 92 87 69 70 80 73 68 96 99 96 71 65 k New York 103 101 73 69 6 Boston 90 91 93 86 88 96 85 90 88 89 89 92 95 92 96 98 97 102 96 100 96 98 99 99 105 100 107 107 106 108 108 107 104 105 106 106 105 104 105 110 106 110 107 110 101 105 108 108 Minneapolis 101 90 102 97 102 105 103 107 St. Louis 91 83 92 95 Chicago 85 78 91 98 Atlanta 84 77 85 96 Richmond 95 89 86 84 81 83 82 81 83 79 78 87 86 76 83 81 82 72 90 88 94 93 89 90 90 94 88 109 101 108 111 105 103 107 100 111 Cleveland San Francisco January February March April Philadelphia United 1 States United States YEAR AND MONTH Ad- Unadjust- justed ed STOCKS, END OF M O N T H Dallas SALES 101 124 121 184 97 120 119 182 104 88 97 91 89 118 105 134 119 121 127 124 126 129 124 113 132 123 123 122 196 180 177 197 181 183 172 106 105 109 102 103 107 106 111 105 99 95 109 110 103 77 87 98 76 86 85 89 97 109 98 109 115 103 92 102 97 103 106 102 106 1937 January.. February March April 106 89 106 83 105 100 105 111 103 96 80 85 84 85 84 79 81 78 84 78 82 78 88 90 83 76 97 99 94 98 99 99 108 98 92 111 112 103 116 110 109 117 108 104 Mav__ June July August. 103 102 104 101 103 75 111 89 September October. November December 109 100 105 119 107 122 111 186 100 110 74 84 99 115 120 182 M o . av 106 102 109 74 84 94 105 103 97 99 100 65 78 73 73 93 80 108 108 99 107 76 82 86 99 96 93 68 90 91 91 75 92 88 86 68 83 112 107 95 95 69 83 80 114 106 83 95 91 97 114 97 93 95 105 111 128 109 113 121 128 119 127 109 106 125 119 134 120 112 124 119 125 120 100 110 120 121 201 174 176 195 191 185 177 155 165 191 195 106 111 95 104 105 107 112 103 97 98 103 102 94 98 98 88 92 92 93 95 92 109 103 106 10R 103 108 111 116 113 113 117 110 116 118 121 118 117 119 108 117 117 101 98 94 96 88 96 96 100 88 96 113 95 100 120 102 106 119 104 109 116 108 107 114 99 106 90 100 86 98 93 101 119 100 107 126 103 113 125 100 118 100 79 97 96 114 95 104 91 98 91 87 90 90 92 90 95 97 95 96 96 100 97 95 105 107 105 105 106 108 104 102 107 109 103 105 105 110 105 103 81 97 87 109 94 116 95 115 77 97 85 10? 89 109 93 109 112 104 101 116 123 129 126 102 90 107 83 103 79 101 88 103 96 108 97 115 98 118 74 100 89 113 87 106 106 99 95 95 105 98 95 99 98 92 89 91 103 107 103 113 103 116 102 96 106 113 118 101 109 116 117 99 101 111 114 95 95 106 113 ..... 102 97 99 99 80 101 98 104 105 100 106 100 101 102 103 97 94 97 101 100 101 101 98 102 104 101 92 99 101 95 91 92 99 89 92 101 103 92 101 103 104 102 103 103 101 102 98 96 92 95 96 93 93 91 93 95 97 92 96 99 97 107 106 107 108 108 112 117 112 114 112 115 121 115 116 112 94 96 90 93 93 99 101 102 101 101 100 91 84 83 87 94 97 97 80 i Compiled by the Federal Reserve Board, Division of Research and Statistics, from reports of about 560 department stores located in 250 cities with total annual sales of over $2,000,000,000. Stocks are reported by about 470 firms, their 1925 stocks averaging $570,000,000. In all cities covered by the sample census of distribution, except Chicago, sales of reporting stores were over two-thirds of the total department-store sales in each case. The index numbers are based upon aggregate values and the adjusted indexes allow for seasonal variations, differences in number of trading days, and variations in sales attributable to the movable Easter. 21925 monthly average=100. 22 FOREIGN [CAPITAL ISSUES PUBLICLY OFFERED IN THE UNITED STATES: 1914-1927 [Thousands of dollars] MONTH January February March April _ _ May June July.. August September October November December 1914 1915 $740 14,054 3,000 2,000 $32,189 20,846 36, 433 60,095 200 3,764 2,775 None. 48, 531 20,400 40, 790 12, 750 20,271 38, 252 107, 700 259, 780 None. 7,003 531,808 7,100 15,550 17,020 372, 736 83, 519 12,350 940 3,000 7,250 Total Monthly average 1916 1919 1913 $13,104 $261, 780 95,609 19,173 92,855 125,865 17,884 105, 458 833, 495 1,131,080 94, 257 69, 458 37, 723 3,144 1917 1921 1920 1922 $71, 322 44, 275 29,042 15,000 1923 1924 1925 $92,ci6 48,621 148, 820 216, 477 $71,492 50,462 24,347 12,175 139,400 11,454 41,500 $83,500 137,500 82, 266 52, 740 $86,323 113, 588 52, 451 140, 650 $181, 633 87, 305 107, 375 203, 284 56,603 35,003 27,815 ! 172,078 86,236 j 172,058 90,565 ! 58,450 87, 515 115,636 120, 875 66, 340 52,879 155, 049 67,021 104, 645 107,075 154,240 135,196 138,666 87, 397 260,105 166,366 101,902 495,662 1,219,542 1,329,921 1,318, 555 41,305 101,628 110,827 109,880 1,574,961 131, 247 $6, 000 2,300 2,000 1,000 $28,155 160,977 1,400 12, 400 $71, 270 32,550 55,437 13,450 41, 622 14, 250 104, 230 8,760 500 4,240 7,520 None. 28,115 32, 860 137, 563 22, 250 29,586 87,601 36,000 26, 575 134, 670 33, 280 10,975 119,471 32,015 ! 35, 380 51,820 ! 2,620 4,500 41, 550 6,500 52,057 17, 800 2,500 780 15, 929 None. 100 2,595 3,460 5,000 325, 092 29, 721 29, 712 121, 525 91, 775 41, 760 28, 662 96,350 i 23, 721 49,260 f! 60, 870 29, 250 52,009 17,443 88,375 86,679 52,000 39,500 54,400 29, 715 2,476 813, 245 67, 770 636,191 53, 016 718,147 59,846 675,113 56,259 828, 399 69, 033 183,508 194,698 113,835 180,300 1926 I 175,019 ! 104,446 ! 185,525 ! 71,336 1927 1 Compiled by the U. S. Department of Commerce, Bureau of Foreign and Domestic Commerce, representing the amount of foreign capital issues publicly offered in the United States by American underwriters. Details by individual issues, classified by countries, are shown in the bureau's reports. LUMBER, UNFILLED ORDERS, END OF MONTH [Thousands of feet, board measure] SOUTHERN PINE 3 REDWOOD 2 WESTERN PINE i MONTH 1920 1921 1923 1924 1925 1927 1926 1924 1925 1926 1927 1926 1927 January February March April 229,318 183,540 202, 670 220,467 41,242 43, 867 52,859 46, 693 82, 841 84,390 105, 849 151,748 148, 780 143,814 137,318 141,367 144, 748 129,500 126,823 104,450 122,100 108,099 103,835 111, 490 93,914 94,880 97, 739 90,066 107, 638 107,339 122,280 107,138 45,949 45,370 44,038 35,912 47,052 43,200 43,647 42,373 50,464 57,700 61,795 57,863 67,440 60,007 69,897 72, 703 299,314 324,423 333, 729 311,099 May June July August 194, 754 149,428 157,546 143,044 39,197 40,801 39, 551 35,560 172,886 138,849 117,218 122,462 113, 622 89,853 79,493 79,495 93. 766 84,115 115,698 117,356 107,262 106,488 123,146 108, 534 98,190 104,991 120,996 121, 741 105,612 97,509 95,635 96,917 34,188 32,438 30,451 35,329 37,034 37,288 40,468 39, 666 52,800 54,847 52,799 48,218 70,293 70,132 56,495 346, 510 314, 563 298,504 283,243 328, 561 84,558 61,710 45,227 42,845 45,687 60,631 60,973 74,380 105,382 111, 542 138,338 141,386 80,494 78,818 81,463 90,858 98,251 96,318 135,907 141,570 87,090 84,367 79,683 112,585 112,524 90,250 81,540 98,046 90,982 91,787 76,288 92,749 33,508 37,467 39,805 45,668 33,471 33,160 36,352 39,779 48,615 58,081 54,286 53,807 45,430 45,962 41, 518 336,713 314,952 262, 502 253,730 320,096 346,715 305,164 287,741 142,926 48,453 122,741 105,448 115,709 104, 557 100,406 99,323 38,344 39,458 55,030 60,165 * 302,881 312,763 September October November December Monthly average. 1 Compiled by the Western Pine Manufacturers Association, the actual figures being prorated to computed totals through percentages of normal production. The normal monthly production covers 54 mills with output of 148,000,000 board feet in earlier years, gradually reduced to 42 mills with normal output of 136,800,000 feet in 1925, and estimated to represent 70 per cent of the output of western pine territory through 1925 and thereafter 74 per cent, owing to the decrease in total number of mills in business and 2increase of reporting mills to 49. Compiled from data furnished by the California Redwood Association from reports of 14 mills estimated to represent 73 per cent of the redwood output and prorated up to 100 per cent on this basis. 3 Compiled from data furnished by the Southern Pine Association, the actual figures being computed up to the totals for 192 mills with a normal production of 484,065,392 feet, the monthly average for the first four months of 1916, by the same percentage as used for new orders each month. Beginning with January, 1928, the figures are prorated on the proportion of the actual number of units reporting each month to the 264H units included in the compilation of 192 mills. ELECTRIC POWER PRODUCTION IN CANADA (CENTRAL ELECTRIC STATIONS)» [In thousands of kilowatt hours] GENERATED BY WATER POWER TOTAL I GENERATED BY EXPORTS FUEL MONTH January.-February March. April May June July August September October November December Total Monthly average. 1925 1926 783,030 717,455 804,512 795,389 951,450 870,530 952,276 902,045 816,084 786,875 795,971 784,620 822,814 900,180 966,397 9,892,209 824,351 1927 1925 1926 1,131,212 1,065, 850 1,150,008 1,109, 721 768,476 705,156 792,234 783, 776 856,485 939,537 891,041 960,939 971, 775 966,169 982,174 1,116,602 1,107,927 1,104,260 1,229,089 805,752 776,413 784, 775 773,045 949,946 959,913 952, 711 969, 469 1,008,176 1,100,413 1,112,063 1,145, 723 1,197,023 1,309,170 1,311,211 1,361,864 809, 507 902, 968 878,404 950, 228 992, 793 1, 085, 228 1,096, 629 1,127,185 11,923,733 993,644 14,193,037 1,182,753 >, 730, 734 11,756,971 810,895 979,748 1925 1926 17,313 15, 793 16,223 15,075 91,300 79,260 100,160 106,335 113,026 110,911 115,696 130,894 121,829 133,702 129, 709 10,993 11,862 13,458 12,705 13,768 13,201 14,572 15,558 106,354 107,192 109,630 111, 181 119,398 127,351 132,225 142,860 124,749 139,439 138,085 157,197 1,181,173 1 13,307 1,289,967 | 15,914 1,289,242 J 21, 776 1,339,206 16,169 15,383 15,185 15,434 18,538 15,850 19,203 21,969 22,658 116,542 126,143 114,443 117,002 146,678 144,160 128,041 127,568 154,047 142,991 129,415 130, 552 13,991, 754 161,475 1,165,980 13,456 166,762 13,897 201,183 16,765 1927 1925 1926 1927 1,113,899 1,050,057 1,133,785 1,094, 646 14,554 12,299 12, 278 11,613 15,416 14,045 12,739 11,004 1,101,834 1,094,726 1,089,688 1,213, 531 10,332 10,462 11,196 11, 575 1927 1,285,542 1,606,000 1,632,609 107,129 125,500 136,051 1 Compiled by the Department of Trade and Commerce, Dominion Bureau of Statistics, revising previous reports and covering all the large central electric stations in Canada, which in 1925 produced 98 per cent of all stations in Canada. These data do not include the output of pulp and paper mills and other plants generating electricity only for their own use. 23 COFFEE MOVEMENT1 [Thousands of bags] 1913 MONTH 1914 1915 1916 1917 j 1918 1919 1930 1921 1922 1924 1925 1926 i 1927 RECEIPTS IN BRAZIL January February March. April May June July August September October.. November December _ Total --Monthly average 649 477 413 290 330 545 1,048 2,129 2,164 2,244 1,851 1,511 874 632 532 454 423 609 1,213 539 918 1,640 1,642 1,761 1,507 1,275 1,113 773 585 526 1,568 2,060 1,863 2,153 1,919 1,829 1,315 887 725 504 423 726 1,442 1,643 1,812 1,715 1,554 1,487 771 494 558 462 405 406 995 2,105 1,793 1,793 1,432 1,559 1,717 1,342 748 715 843 796 780 841 1,258 999 793 1,099 582 692 691 711 654 621 622 904 980 939 837 564 481 476 481 343 389 466 947 1,486 1,423 1,443 1,528 1,460 1,237 824 917 1,108 1,022 1,106 1,224 1,319 1,234 1,192 1,187 1,290 1,167 1,053 995 892 808 498 743 1,139 1,023 1,126 1,114 1,035 1,079 959 794 291 341 612 1,112 1,368 1,358 1,397 1,300 1,288 1,289 1,092 1,151 1,179 1,094 1,186 659 1,641 1,870 1,648 1,426 1,123 957 841 965 787 546 766 1,176 1,258 1,623 1,342 1,271 1,311 1,248 1,024 1,123 808 824 1,000 1,175 1,267 1,167 1,262 1,324 1,493 1,218 1,052 1,063 933 1,058 1,206 1,258 1,504 1,405 1,838 1,714 1,372 13,651 1,138 11,237 936 17,171 1,431 14,233 1,186 12,773 1,064 11,931 994 8,797 733 10,923 910 13,660 1,138 11,593 966 11,899 992 15,358 1,280 12,843 1,070 13,715 1,143 15,621 1,302 I CLEARANCES FROM BRAZIL TO THE UNITED STATES January February March Airil May June July .August September October November December -. 578 334 322 133 169 157 247 422 571 674 745 574 593 509 422 368 376 393 280 307 626 696 421 541 714 396 865 260 367 212 385 886 629 967 683 699 461 406 489 424 394 100 342 526 639 1,016 1,055 769 398 871 418 694 283 313 308 696 669 704 472 482 648 492 173 503 875 410 305 251 224 148 196 254 234 837 365 503 258 737 623 572 697 652 487 333 367 579 746 324 525 542 510 619 609 290 465 677 595 680 712 503 218 345 386 310 514 673 783 433 499 327 464 667 337 337 325 425 554 835 738 481 693 828 601 212 356 309 339 803 891 968 748 756 505 635 577 463 466 634 406 566 713 828 668 530 623 378 462 278 292 676 701 711 705 719 758 731 572 611 649 353 554 511 653 684 695 780 721 716 447 672 511 509 655 666 595 712 862 813 876 Total. Monthly average 4,926 411 5,532 461 7,063 589 6,621 552 6,308 526 4,479 373 6,298 525 6,253 521 6,152 513 5,989 499 7,504 625 6,991 583 7,034 586 7,499 625 7,984 665 776 975 998 1, 218 1, 060 1, 145 952 1,259 968 1,159 1,072 703 754 732 1,041 1,083 1,521 1,175 959 1,226 1,187 1,155 679 679 717 773 1,543 1,665 1,812 1,371 1,288 1,134 1,297 1,016 728 940 1,039 997 1,455 1,419 1,731 1,214 926 1,048 757 772 679 618 1,242 1,247 1,495 1,445 1,591 1,303 1,216 1,053 1,077 1,105 818 915 904 1,229 1,305 1,263 1,394 1,301 1,194 1,241 947 1,223 942 935 1,169 1,235 1,312 1,334 1,583 1,510 1,441 12, 038 1, 003 12,426 1,035 14,095 1,175 13,896 1,158 13,413 1,118 13, 558 1,130 14,872 1,239 7,721 7,491 6,936 6,104 5,451 5,297 5,524 5,777 5,742 5,325 4,695 4,293 4,198 4,183 3,892 4,351 4,665 5,020 4,352 5,183 5,653 5,734 5,661 5,388 5,291 5,112 5,329 5,353 5,123 5,009 5,126 5,118 5,096 5,082 5,035 5,080 4,753 4,762 4,747 4,605 4,385 4,318 4,261 4,322 4,393 4,537 4,716 9,076 9,263 9,234 9,404 9,185 8,944 8,872 8,577 8,600 8,775 8,513 8,460 8,242 7,953 8,913 8,730 5,863 4,857 5,146 4,619 4,597 .. TOTAL CLEARANCES FROM BRAZIL I January _ February March April May June July August - --. October. November.. December Total M o n t h l y average. 1 . .1 . J ! 1 ! ...J . 1,374 812 561 385 415 504 659 1,292 1,589 2,074 1,835 1,665 ! 13,165 i 1,097 1, 1, OO 00 OS rf 00 CO © CS COOOO t> ! ! 1 ; 625 788 686 393 831 1, 265 1, 1, 308 1,671 1,461 1,663 1,326 861 506 720 1,500 1,267 2,143 1,836 1,789 1,107 1,023 1,321 895 1,117 422 864 954 1,152 1,365 1,552 1,168 725 1, 366 839 1, 053 591 536 482 933 1, 080 1, 235 728 798 829 578 450 766 1,063 811 632 471 383 376 390 538 918 1,600 1,522 1,219 836 1,132 1,040 807 798 1,105 1,039 602 11, 136 928 16, 743 1,395 12, 940 1,078 10, 366 864 7,287 607 12, 618 1,051 834 748 1, 296 883 739 841 723 1, 026 1, 286 1, 002 1 017 930 11, 325 944 993 1, 076 1, 154 964 WORLD VISIBLE SUPPLY (END OF MONTH) January February March April May June July August September October November December Monthly average 12,600 12,004 11,664 10,032 10,583 10, 285 10,466 11,433 12,173 13,710 13,189 13, 688 13,293 12,928 12, 633 10,125 10,004 9,646 8,975 8,228 7,523 8,533 9,519 9,862 10,463 10,431 10,312 8,514 7,855 7,328 7,908 8,730 9,779 10,619 11,111 11,277 11,819 11,370 j 9,468 9,280 12,110 11, 578 11,302 11,467 10,616 10,063 10,310 10,156 9,342 10,607 10, 312 9,882 9,289 8,157 7,794 7,987 ! 6,472 9,069 8,484 7,881 10,671 7,158 7,100 7,695 7,658 7,337 6,958 7,272 6,910 7,034 7,773 8,297 8,379 8,716 9,002 3 7,318 7,941 8,902 8,992 8,842 8,663 8,720 8,639 9.034 9,032 8,920 4,464 4,387 4,491 4,560 4,739 4,663 4,601 4,564 4,701 4,622 4,917 5,060 5,041 UNITED STATES VISIBLE SUPPLY (END OF MONTH) January February March _ April May June July August.. September October November December _ Monthly average 2,289 2,369 2,363 2,245 2,018 1,848 1,621 1,452 1,389 1,316 1,396 1,709 1,559 1,682 1,684 1,717 1,657 1,654 1,686 1,354 1,385 1,493 1,541 1,505 1,486 1,723 1,759 1,966 1,816 1,818 1,599 1,543 1,554 1,753 1,741 1,965 2,052 1,901 1,802 2,080 2,107 2,021 1,872 1,765 1,894 1,908 2,270 2,525 2,473 2,498 2,948 2,883 2,701 2,586 2,549 2,549 2,608 2,756 2,520 2,262 2,288 2,490 2,098 1,837 1,810 2,002 2,239 1,899 1,897 1,477 1,221 955 1,054 900 1,398 1,225 974 879 1,009 1,136 1,347 1,411 1,656 1,571 1,332 1,396 1,504 1,792 1,494 1,699 1,823 1,936 2,026 2,025 1,696 1,619 1,647 1,901 2,046 2,058 2,037 1,747 1,711 1,685 1,306 1,175 1,298 1,616 1,387 1,453 1,195 1,039 1,146 1,086 1,124 904 940 838 957 958 819 1,090 1,208 1,033 826 860 798 716 944 944 884 712 670 571 652 634 657 760 873 966 739 772 803 611 714 652 888 695 537 713 804 859 716 583 789 888 684 798 743 694 583 647 691 832 912 899 888 978 1,014 903 765 806 743 788 634 825 547 634 686 768 1,835 1,576 1,727 2,016 2,611 1,851 1,213 1,695 1,686 1,086 903 726 736 779 759 1 Compiled by the New York Coffee and Sugar Exchange. Brazilian figures cover the ports of Rio, Santos, Bahia, Victoria, and Paranagua, thefiguresfor Victoria being added in September, 1925 and for Paranagua in November, 1927, these two ports being of small importance in coffee movement prior to those dates. The world visible supply consists of stocks in Europe, United States, Brazil, and afloat, all of which are shown separately in the Exchange's monthly report. From August, 1917, through June, 1919, nofigureson the world visible supply were compiled. 2 3 Seven months' average. Six months' average. 24 TREND OF BUSINESS MOVEMENTS The following table contains a summary of the monthly figures, designed to show the trend in important industrial and commercial movements. These data represent continuations of the figures presented in the latest semiannual number (February, 1928), in which monthly figures for 1926 and 1927 may be found, together with explanations as to the sources and exact extent of the figures quoted. The figures given below should always be read in connection with those explanations. Data on stocks, unfilled orders, etc., are given as of the end of the month referred to. For explanations of relative numbers, including base periods, see introduction on inside front cover. ERRATA IN FEBRUARY, 1928, ISSUE Page 32.—Spindle activity, ratio to capacity, monthly average for 1927, should read 104.9. Page 33.—Note 2, last sentence, at bottom of page, should be corrected to read, "The item on weeks sold ahead represents the excess of unfilled orders over stock, divided by weekly production." Page 60.—Men's dress welt, tan calf, St. Louis, monthly average for 1927, should read 4.93. 1937 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" Page 56.—Rubber-proofed fabrics, total production for the year 1927 should read March, 2,756; April, 2,800; May, 2,642; June, 2,776; July, 3,330; August, 4,077; September, 4,545; October, 4,634; and November, 3,791. Page 127.—Interest rates on commerical paper, 4-6 months, for the year 1927, should read February, 3.87; March 4.00; April, 4.10; July, 4.07; August, 3.90; September, 3.87; October, 3.97; November, 3.92; and December, 3.97. 1928 PER CENT INCREASE ( + ) OR DECREASE ( - ) 1927 Feb., 1928, from Jan., 1928 Feb., 1928, from Feb., 1927 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 Per ct. increcce (+) or de|| crease cumulative 1928 from 1927 October November December 16, 578 9,033 7,545 15, 205 8,972 6,233 15,442 8,794 17,281 8,044 9,237 18,085 6,399 11, 686 19, 743 6,081 13,662 29, 693 6,577 23,116 -20.5 +26.5 +4.7 -39.1 -2.7 —49.4 49, 436 12, 658 36, 778 35,366 14,443 20,923 -28.5 +14.1 -43.1 21,053 24, 535 20,179 23,936 17,924 20,566 24, 759 28,353 21, 305 23, 646 27, 542 30,642 34,072 38,075 -14.0 -16.6 -37.5 -37.9 61,614 68, 717 46,064 51,999 -25.2 -24.3 49,122 46,322 | 41,691 45,087 48,324 46,389 45,938 +7.2 +5.2 92,327 93,411 +1.2 -3.2 -1.9 -1.5 0.0 -6.2 -17.7 January February January February 1937 TEXTILES Wool Receipts at Boston: i,.. Total thous. of lbs. Domestic thous. of lbs. Foreign _ thous. of lbs. Imports: In condition imported thous. of lbs. Grease equivalent thous. of lbs. Consumption by textile mills, grease equivalent__ thous. of lbs. Machinery activity, hourly: LoomsWide _per ct. of hours active. Narrow per ct. of hours active. Carpet and rug per ct. of hours active. Sets of cards per ct. of hours active. Combs per ct. of hours active. Spinning spindles— Woolen .per ct. of hours active. Worsteds per ct. of hours active. Prices: Raw, territory, fine, scoured..dolls, per lb. Raw, Ohio and Pa. fleeces, }/i blood, combing, grease..dolls, per lb. Worsted yarn dolls, per lb. Women's dress goods, French serge, 39 in dolls, per yd. Suiting, 13-oz dolls, per yd. 66 64 67 79 83 63 58 68 77 71 51 67 78 80 80 72 77 65 77 68 1.20 .47 1.40 1.00 1.913 +4.7 +4.0 +6.7 -1.3 +4.1 +3.0 -4.2 +2.6 +10.1 +4.0 +18.2 +4.9 +8.7 0 0 +0.9 +2.1 -10.1 1.40 .49 1.40 .50 1.43 .52 1.50 .44 1.38 .44 1.38 1.00 1.913 1.00 1.917 1.00 1.93.* 1.00 1.953 1.00 1.895 1.00 1.913 2,571 28,845 1,660 41,211 41,445 999, 501 625,680 767,314 543, 598 728,935 582, 417 7,521 1,551 5,969 7,363 1,707 5,656 6,721 1,707 5,014 5,982 1,669 4,313 8,011 1,852 6,159 7,314 6,074 7,501 6,041 7,163 5,470 6,702 i 5,020 .187 .186 .190 31,715 7,859 215 94.3 Cotton Ginnings thous. of bales. 2,837 Receipts in sight _ thous. of bales. 19,235 Imports, unmanufactured bales. Exports, unmanufactured h (including linters) bales. 1,126,509 612,935 Consumption by textile mills bales. Stocks, domestic, end of month: 6,760 Total, mills and w'houses.-thous. of bales. 1,327 Mills thous. of bales. 5,433 Warehouses .thous. of bales. Stocks, world visible, end of month: 6,479 Total .thous. of bales. 5,297 American thous. of bales. Prices: .210 To producer, all grades dolls, per lb. .211 In New York, middling dolls, per lb u .200 .203 2 12, 755 ! 1,575 633 56,939 38,200 » 17,454 1,212 39, 702 -29.5 -7.8 -47.8 -3.8 2,787 96,641 1,531 79,645 -45.1 -17.6 634, 890 1,115, 792 1,010, 507 573,810 603,242 589, 513 -12.9 -1.5 -37.2 -2.7 2,126,299 1,192, 755 1, 363, 825 1,156, 227 -35.9 -3.1 7,385 1,932 5,453 -11.0 -2.2 -14.0 -19.0 -13.6 -20.9 8,796 7,227 8,533 6,860 -6.4 -8.2 -21.5 -26.8 .170 .185 .106 .134 .115 .140 -8.6 -2.6 +47.8 +32.1 31, 698 8,259 227 101.5 31,687 7,969 220 101.2 32,636 8,554 229 102.0 32,873 8,239 222 106.5 0 -3.5 -3.1 -3.6 -3.3 21,160 12,880 40,115 18,934 13,444 38,287 18, 642 13, 611 38,457 .371 .522 .523 .360 .494 . 196 I Cotton Yarn Machinery activity of spindles: Active spindles__ thousands.. Total activity millions of h o u r s . . Activity per spindle hours.. Ratio to capacity per c e n t Carded sales yarn: Production. thous. of l b s . . Stocks, end of m o n t h thous. of l b s . . Unfilled orders, end of mo thous. of l b s . . Prices of yarns: 22/1 cones, Boston dolls, per l b . . 40/ls, southern spinning dolls, per l b . . 32,498 8,705 238 105.3 16,619 10,165 27,220 iTotal ginnings of crop grown in previous year. .402 .546 8,680 238 107.2 17,162 11,580 .530 -5.0 -1.5 +1.2 +.4 .301 .460 .306 .464 -2.4 -5.5 +17.6 +6.5 25 TREND OF BUSINESS MOVEMENTS—Continued 1928 1927 PER CENT INCREASE ( + ) OR DECREASE (—) 1937 The cumulatives shown are through February, Earlier data for items shown here may he found on pages 24 to 138 of the February, 1928, "Survey** November December January February 331,854 257, Oil 432,447 225, 560 293,411 2.11 466, 529 321,621 292,535 340, 221 193,871 286,097 .59 472, 298 372,042 336,501 386,726 374,581 328,076 .67 468,823 297,669 367,223 313,893 194,114 266,947 300,323 382,142 284,817 256,328 285,404 401,676 4,425 42,836 i 5,081 45,919 5,565 41,117 6,472 34,963 13,549 I 12,822 11,949 16, 040 .087 .111 175 .083 .110 172 .105 168 .080 .098 166 85,490 77,296 50,175 39,094 73 5.4 77,239 69,073 44,671 41,350 61 4.4 77,885 69,836 43,287 41,059 59 3.9 64,943 57, 006 7,942 47,827 October January February Feb., 1928, from Jan., 1928 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 1937 1928 Per ct. increase (+) or decrease (-) cumulative 1928 from 1927 TEXTILES—Continued Cotton Goods Cotton textiles: Production... thous. of y d s . . Stocks, end of month thous. of y d s . . Unfilled orders, end month..thous. of yds_. New orders__ thous. of yds_. Shipments thous. of y d s . . Weeks sold ahead numberFine cotton goods, production pieces.. Cotton cloth: Imports thous. of sq. y d s . . Exports thous. of sq. yds._ Fabrics for tire manufacture: Consumption.._ thous. of lbs_. Prices: Print cloth, 64 x 60 dolls, per y d . . Sheeting, brown __ dolls, per y d . . Cotton goods (Fairchild),rel. to.1911-1913.- 232, 611 190,520 454,140 270,644 258, 303 4.53 423,976 +.9 +4.1 -9.3 +32.1 +6.9 +29.1 +100.6 -37.3 -5.3 +10.5 461,544 597,992 +29.6 647,455 518,258 450,442 552, 351 -30.4 429,095 228,933 216,212 441,799 376,811 259,955 3.94 441,484 +6.8 830, 771 -4.0 5,813 33,380 5,056 39,834 4,699 35,859 -10.2 -4.5 +1.2 +23.7 865,460 9,755 75, 693 12, 285 68, 343 +25.9 -9.7 14,358 13,609 .077 .095 163 .068 .080 143 .081 145 68,737 75, 665 44,673 40,751 62 4.7 78,786 79,184 49,035 75,510 88, 603 48,936 36,581 69 6.8 -5.7 159,064 180,005 97,904 147, 523 154,849 93, 708 -7.3 -14.0 -4.3 48, 574 49,826 64,015 74,326 5,899 46,947 7,541 43,357 7,405 52,420 6,657 50,679 8,208 48,307 5,437 42,860 -10.1 +22.4 +18.2 13,645 91,167 14, 062 103, 099 +3.1 +13.1 62,366 25,967 52,069 26,530 53,540 24, 282 47,528 a 26,700 41,677 27,567 52,627 24,872 43,758 22,120 -12.3 -4.8 +24.6 84.2 54.2 77.6 5.145 88.4 53.3 77.8 4.802 93.0 51.8 79.6 4.998 94.6 50.7 77.3 5.145 99.1 50.6 79.1 5.292 86.4 56.2 89.4 5.635 86.2 58.1 89.1 6.027 +4.8 +2.3 +2.9 +15.0 -12.9 -11.2 -12.2 1,386 1,146 700 852 -16.1 +34.5 1,552 2,512 +61.9 "1.50 1,397 1.45 1,074 1.45 3,681 3,175 7,301 3,640 3,412 7,567 3,701 1,871 1,730 2,156 1,962 +15.2 +13.4 2,336 -9.8 -6.9 +6.6 - 3 . 7 +11.6 - 3 . 1 +17.3 - 1 . 8 I +12.4 Cotton Finishing White, dyed and printed (outside mills): Billings, finished goods thous. of y d s . . New orders, gray yardage.—thous. of y d s . . Shipments, finished goods cases. Stocks, finished goods, end mo cases.. Operating activity per ct. of capacity.. Unfilled orders, end of month days.. Printed only (cotton mills and outside): Production thous. of y d s . . Stocks, end of m o n t h thous. of yds 5.2 83, 554 91,402 34,971 82 7.0 +14.6 +4.7 - 1 3 . 4 +.1 +9.8 -5.0 +10.7 +11.3 - 1 5 . 9 +10.6 - 2 5 . 7 +28.5 Silk Imports, raw thous. of l b s . . Deliveries (consumption) __ bales.. Stocks, end of month: At warehouses bales.. At manufacturing plants bales.. Silk machinery activity: Broad looms. per cent of n o r m a l . . Narrow looms per cent of normal _. Spinning spindles per cent of n o r m a l . . Price, Japanese, 13-15, New York.dolls. per lb__ +3.2 -.2 Rayon Imports.. ._ thous. of l b s . . Stocks in bonded warehouses, end of m o n t h . thous. of l b s . , Price, 150 denier, A grade, N . Y_.dolls, per lb.-j 1,285 1,764 1,366 l, 674 l. so i. 50 2,549 1.50 2,915 1.50 pairs.. pairs.. pairs.. pairs.. pairs.. 4,151 4,294 7,965 4,246 6,481 3 863 3,927 7,568 3,838 6,167 3,386 3,646 7,640 3,183 5,395 3,578 3,033 7,983 3,109 5,380 garments.. garments..] garments.. garments.. 1,181 1,359 1,322 1,147 1,181 l, 230 l, 073 l 046 973 959 1,100 924 1,022 917 1,202 1,309 1,134 1,045 1,218 1,027 912 819 1,157 1,357 959 911 1,213 1,232 +11.0 +14.0 +1.3 -21.5 +18.2 +14.7 +0.4 -16.6 of dozen g a r m e n t s . . 2,185 1,967 1,925 »2,313 2,275 2,091 2,408 -1.6 -5.5 37,396 16,705 29,569 25,089 44,451 23,862 48,922 39,268 66,102 28,493 49, 797 29,892 47,320 20, 751 +35.1 -27.4 +39.7 +37.3 97,117 50,643 115,024 67,761 +18.4 +33.8 thous. of l b s . . thous. of linear yards. 3,042 2,649 3,502 2,785 4,068 3,051 4,752 3,654 3,206 2,168 3,398 2,431 8,820 6,705 +33.6 +45.8 2,426 2,979 3,588 4,715 2,486 3,410 +16.8 +39.8 +19.8 +50.3 +31.4 +38.3 6,604 4,599 thous. of linear y a r d s . . 3,092 2 382 ' 2,678 8,843 8,115 8,713 7,081 13,400 20,239 53.9 9,604 ' 52.3 9,646 45.1 9,662 48.8 10,902 44.4 10,300 48.3 10,134 +3.4 Hosiery Production thous. of dozen Net s h i p m e n t s - . thous. of dozen Stocks, end of m o n t h . . . . t h o u s . of dozen New orders thous. of dozen Unfilled orders,end of mo.thous. of dozen 5,513 K n i t Underwear Production thous. Net shipments -thous. Stocks, end of m o . . .thous. New orders. _ thous. Unfilled orders, end of month ..thous. of of of of dozen dozen dozen dozen Burlaps and Fibers g* Imports: Burlaps Fibers (unmanufactured) P thous. of l b s . . long t o n s . . Pyroxylin Coated Textiles Pyroxylin spread Shipments billed Unfilled orders, end of month Fur Sales b y dealers thous. of dolls.. Buttons Fresh-water pearl buttons: Production: Stocks, end of month • Revised. ratio to capacity.. thous. of gross.. 51.1 10,748 +4.7 -1.4 +5.8 +6.1 26 TREND OF BUSINESS MOVEMENTS—Continued 1937 The cumulative* shown are through February. Earlier^ data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey** October November 1927 1928 December PER CENT INCREASE ( + ) OR DECREASE ( - ) January February January February Feb., 1928, from Jan., 1928 Feb., 1928, from Feb., 1927 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 1927 1928 Per ct. increase I, (+) or decrease (-) cumulative 1928 from 1927 IRON AND S T E E L Iron Manganese ore, imports thous. of long tons.. Iron ore: Imports thous. of long t o n s . . Consumption thous. of long tons.. Stocks, end of m o n t h Total thous. of long tons.At furnaces thous. of long tons.. On Lake Erie docks.thous.of long tons.. Pig-iron production: Total, United States..-thous. of long tons.. Merchant furnaces thous. of long tons.. Canada ...thous. of long tons.. Furnaces in blast, end of month: Furnaces number.. Capacity.._ .long tons per d a y . . Per cent of total. per cent.. Ohio gray-iron foundries: MeltingsActual long t o n s . . Normal long t o n s . . Ratio to normal per cent of normal... Stocks, end of month...per cent of normal.. Receipts per cent of normal.. Malleable castings: Production short tons._ Operating activity per ct. of capacityShipments short t o n s . . New orders short tons— Wholesale prices: Foundry, No. 2, northern dolls, per long t o n . . Basic (valley furnace).-dolls, per long t o n . . Composite pig iron dolls, per long t o n . . 15 27 32 228 4,024 132 3,992 251 4,303 230 4,395 42,164 34,952 7,212 200 3,814 41,472 34,528 6,944 37,682 30,978 6,604 33,350 27,062 6,288 29,003 23,015 5,988 33,971 27,279 2,784 707 2,648 710 2,696 708 63 2,870 715 65 2,900 625 65 3,104 760 52 2,941 684 51 18 16 4,524 24 +100.0 40 27 -32. 5 -8.4 +2.1 426 8,758 481 +12.9 -.7 6,045 1,444 103 5,770 1,340 130 -4.5 -7.2 +26.2 193 4,234 23,746 6,063 -25.0 +19.2 +3.8 -13.0 -a 7 -15,0 -3.1 -4.8 -1.2 +1.0 -1.4 -12.6 -8.6 0. +27.5 +1.1 -13.8 -5.7 +3.5 172 88,300 47.6 170 87,700 47.4 169 86,835 47.3 185 96,640 52.9 187 100,060 53.6 208 100, 635 57.0 217 106,135 59.5 14,207 18,389 77.2 88 60 15,647 19, 553 80.0 104 74 10,994 15,342 71.6 105 58 13,977 16,097 86.8 129 15,270 15,245 100.0 135 105 13,613 18,934 71.3 91 62 13,101 15,478 84.6 105 74 -5.3 +15.2 +4.7 +19.3 +9.3 +16.6 -1.5 +18.2 +28.6 +41.9 26,714 34,412 29,247 31, 342 +9.5 43,074 45.0 38,433 37,477 38,210 40.4 35, 735 32, 925 44, 781 47.3 40,269 45,920 50,096 41.9 44,458 49,251 54,031 62.3 49,253 51,414 47,454 47.7 44,717 46,872 +7.9 +48.7 +10.8 +4.4 -8.2 +3.3 -2.0 -5.2 106,336 104,127 60.3 50,264 54,237 -2.1 101,109 93,711 100,665 -1.3 -.4 19.26 17.00 18.79 19.21 17.00 18.42 19.01 17.00 18.37 19.01 17.00 18.37 19.01 17.00 18.45 20.26 18.00 20.16 20.26 18.00 19.73 +.4 0 0 -6.2 -5.6 -6.5 19,865 25,734 25,917 104, 301 14,437 19,972 17, 740 99,284 10,023 13,185 11,346 95,453 9,037 11,009 11,511 79,400 17,164 12, 692 10,604 82, 765 20,202 16,130 15,276 24,758 31,156 30,400 110,647 22, 575 29,156 24,812 101, 990 18, 265 21,637 16, 781 97, 619 24, 743 19, 292 18,230 120, 522 20,658 13,105 10,896 81,849 21,331 13, 527 12,473 89,855 14,088 18,156 19, 683 11, 251 17,540 16,154 11, 539 13,193 11, 772 12, 581 10, 661 9,990 14,226 9,534 9,240 14,842 9,770 7,393 55,030 49,302 53, 793 48, 714 34,464 40,452 7,542 7,976 +5.8 115 183 +59.1 +1.3 -8.9 Cast-iron Boilers a n d Radiators Round boilers: Production thous. of l b s . . Shipments thous. of l b s . . New orders ..thous. of l b s . . Stocks, end of month thous. of l b s . . Square boilers: Production _ thous. of l b s . . Shipments.. _ thous. of l b s . . New orders thous. of lbs_. Stocks, end of month thous. of l b s . . Radiators: Production..thous. sq. ft. heating surface.. Shipments..-thous. sq. ft. heating surface.. New orders..thous. sq. ft. heating surface.. Stocks, end of month thous. sq. ft. heating surface.. Crude Steel Steel ingots, production: 3,289 3,102 3,760 3,782 3,150 3 3,961 4,015 +1.4 United States, total.—thous. of long t o n s . . 79 69 65 83 87 66 3 86 +4.8 Ratio to capacity per cent.. 59 84 99 56 81 96 56 +17.9 Canada thous. of long tons.. U. S. Steel Corporation, unfilled orders, end of 3,800 3,341 4,276 3,973 3,597 month thous. of long tons.. 3,455 +2.9 Steel castings:* Production87,086 62,409 88,915 +16.9 58, 997 3 58,332 3 74,079 86, 626 Total ...short tons.. 60 43 40 51 62 +17.6 41 60 Ratio to capacity per cent.. 34,037 21,947 28,714 19,146 19,358 35,322 +3L4 37,719 Railroad specialties short tons.. 53,049 40,462 39,851 3 38,974 3 45,365 53, 593 +7.8 48,907 Miscellaneous _ short t o n s New o r d e r s 107,779 -1.1 3 77,062 3 91,069 90,059 94,683 51, 748 Total _ short tons.. 75 -1.6 36 53 363 62 66 43 Ratio to capacity .per cent_. 53,461 -.4 16, 625 27,639 39,112 41,276 41,096 41,355 Railroad specialties short tons.. 54,318 -1.7 35,044 3 37,950 3 49, 793 48,963 35,123 53,328 Miscellaneous short tons.. Sheets, black, blue, galvanized, and full finished: Production256,856 282,171 +4.4 Total net tons.. 245, 765 232,041 260,130 316, 541 330,565 83.5 97.4 +10.2 75.9 98.7 71.7 65.9 Ratio to capacity .per cent.. Stocks, end of month— -.3 161,661 157,614 Total . . . n e t tons.. 145,980 145, 644 150,104 170,453 169,918 -6.6 55,594 44,974 47,168 52,474 59,508 52,966 50, 518 Unsold net tons.. +8.9 239,019 261,412 Shipments net tons.. 232, 626 224,789 221,689 274,126 298,420 261,357 241,951 -12.1 New orders net t o n s . . 234,358 344, 519 530,197 302,921 266,210 -3.9 526, 550 513,002 437,306 745,393 694,197 667,054 Unfilled orders, end of month net tons.. Steel barrels: 529,137 504,134 +9.0 Production _ .barrels.. 578,408 500,909 444,227 475,906 518,944 48.1 46.2 +5.7 46.2 40.6 43.7 51.6 Ratio to capacity per cent.. 45.6 525,518 503,183 +8.5 Shipments barrels.. 572,893 497,345 454,638 474,159 514,362 51,409 +8.4 58,935 52,606 52,360 59,453 54,353 Stocks, end of month barrels.. 63,017 1, 788,194 +4.9 1,417,627 1,308,365 1,000, 559 1,351, 797 1,663,772 Unfilled orders, end of month barrels.. 845, 789 12,969 9,139 9,914 13,678 +21.8 Track work, production. short tons.. 9,706 9,332 I 11,371 *See table on p . 20 of the March, 1928, issue for earlier 3 Revised. +6.2 +1.2 +76.8 +22.3 176,001 160,705 ! -8.7 -8.7 -4.9 -6.1 - .6 -8.2 69,359 106, 642 66,433 94,272 202,462 181,128 -4.2 -11.6 -10.5 94,816 107,646 82,372 98, 756 -13.1 -8.3 +17.2 +1.3 539,027 647,106 +20.1 +7.8 +17.9 +14.2 +10.0 +30.0 500,431 503,308 572,546 569,131 +14.4 +13.1 1,033,271 994,850 -3.7 1,028,701 988, 521 -3.9 20,703 -22.~3 -2.6 -3.2 +6.8 +2.9 0 +2.2 +12.6 -14.8 -16.9 data. 26,647 | 27 TREND OF BUSINESS MOVEMENTS—Continued The cumulatives shown are through February. Earlier data for items shown here may be found on pages 24 to 138 o the February, 1928, "Survey" PER CENT INCREASE ( + ) OR DECREASE (—) 1927 1927 October November December 216 199 186 174 166 183 157 219 236 169 208 165 253 33.00 35.75 1.80 2.48 33.00 35.39 1.75 2.47 33.00 35.10 1.80 2.46 33.00 35.27 1.80 2.47 33.00 35.57 1.85 2.52 35.00 37.76 2.00 2.62 33.00 37.01 1.95 2.56 270,000 72 232, 500 62 195,000 52 195,000 52 49,588 62 25, 532 40,354 January February January February Feb., 1928, from Jan., 1928 Feb., 1928, from Feb., 1927 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 Per ct. increase <+> or decrease (-) 1937 192S cumulative 1928 from 1927 IRON AND STEEL—Continued Crude Steel—Continued Iron, steel, and heavy hardware: Sales rel. to Jan., 1921.. Lock washers, shipments thous. of dolls.. Wholesale prices: Steel billets, Bessemer._dolls. per long ton.. Iron and steel dolls, per long ton._ Structural steel beams...dolls, per 100 lbs.. Composite finished steel-dolls, per 100 lbs.. +7.8 -6.7 0 +.9 +2.8 +2.0 0 -3.9 -5.1 -1.6 243, 750 65 202, 500 54 +28.6 +28.6 +10.7 +10.7 +10.8 +10.8 +14.8 +14.8 35,854 45 14,342 34,887 59,643 74 32,983 39,408 +38.6 +37.8 +130. 0 -10.3 967 1,151 1,021 1,179 1,101 1,390 2,909 3,296 2,389 2,731 2,887 1,728 2,686 2,771 1,804 682 741 743 556 576 623 185,915 36,861 455 -1.3 Fabricated Steel Products Structural steel, fabricated:* New orders (prorated) short tons.. 288, 750 3 236, 250 3 262, 500 3 210,000 63 3 70 77 3 56 Ratio to capacity per cent.. 247, 500 240,000 210, 000 Shipments (prorated) short tons.. 251,250 64 67 56 Ratio to capacity per cent.. Steel plate, fabricated, new orders: 27,341 47,090 3 35,658 3 35,787 Total short tons.. 44 58 34 3 45 Ratio to capacity ...per cent.. 18,648 8,920 13,367 » 11,101 Oil-storage tanks short tons.. 27,026 28,497 45,010 27,656 Steel bars, cold finished, shipments* tons.. Steel boilers, new orders: 1,054 1,270 1,235 1,029 Total number 1,125 930 906 Area thous. of sq. ft_. 859 Steel furniture: Business group— 2,380 2,741 2,856 2,713 Shipments.. thous. of dolls 2,411 2,850 2,476 3,248 New orders thous. of dolls 1,574 1,414 1,577 2,000 Unfilled orders, end mo.thous. of dolls.. Shelving619 591 578 680 Shipments thous. of dolls. _ 575 551 619 769 New orders thous. of dolls.. 651 606 680 666 Unfilled orders, end mo.thous. of dolls.. Iron and steel: Exports long tons.. 170,255 177, 928 168,428 205, 766 39, 516 51,185 Imports. _ long tons.. 55,070 49,903 438, 750 480,000 ~397~5()6' 442, 500 +9.4 +11.3 -16.9 -16.2 -22.6 +2.4 95,497 85,375 -10.6 47, 325 74,295 -6.0 +34.0 -12.2 -17.2 2,122 2,569 36,633 85,364 1,996 2,010 5,621 6,544 +3.8 +15.7 1,164 1,234 1,362 1,510 +17.0 +22.4 215,235 42, 219 166,128 31,908 -26.1 +8.3 +18.9 +32.4 +12.2 +12.6 +10.1 +11.9 +15.5 5,417 5,658 675 +7.2 +1.5 +19.5 +.3 -3.6 +9.3 381,363 74,127 391, 681 86, 764 +2.7 +17.0 67, 214 55,319 1,273 4,886 74, 563 62, 510 1,437 4,975 +8.7 +9.2 +10.1 141,777 117,829 2,710 9,861 143,670 118,672 2,664 12,822 +1.3 -2.9 +22.1 45,283 46,921 695 +10.8 +129.9 92, 204 1,303 1,634 1,112 3,500 1,390 3 1,487 3,384 +.3 +.4 +18.4 - 3 . 2 +3.4 -20.8 +4.8 - 3 . 7 3,024 2,599 2,483 2,315 -17.9 -10.9 103.7 105.6 93.5 136.9 140.4 +47.8 133.5 +38.0 176.2 +100.5 138.6 +5.4 +22.1 +21.1 +25.1 180.4 198.0 -4.7 -5.0 -37.6 40,467 105 41,400 174 81,867 160 70,215 -8.0 -14.2 123 138 248 143 155 234 -19.0 +5.4 +40.6 +12.9 +41.0 1,381 1,230 14 985 1,726 1,401 134,006 139,522 148,381 127,459 +15.3 +48.3 +7.2 +16.2 +24.7 +31.0 531 282,387 266,981 745 333,324 300,762 +40.3 +18.0 +12.7 704 888 3,971 694 3,352 +37.7 -36.3 +45.0 -25.2 +1.6 -47.4 1,638 1,582 1,027 877 -37.3 -44.6 11 +200.0 +36. 4 120 -11.2 -27.5 7 +100.0 +157.1 17 187 24 -22.6 +14.9 -5.9 -21.8 Machinery Washing machines, shipments: 86,922 79,422 Total number.. 69,945 68,840 74,830 64,082 Electric number. _ 71, 570 56,999 56,728 61,944 1,414 1,743 1,106 1,268 Water softeners, domestic, shipments units. _ 1,396 8,365 7,079 5,980 Water systems, shipments .units «6,746 6,076 Pumps: Domestic shipments— 40,443 36,130 38,148 3 51,822 " Pitcher, hand, etc. .units 51,999 1,370 1,461 Power, horizontal type units • 1, 591 1,598 1,758 Steam, power, and centrifugal1,300 1,403 1,300 New orders thous. of dolls.. 1,137 1,346 1,294 1,303 1,255 Shipments thous. of dolls. _ 1,138 1,177 3,092 2,950 3,125 3,112 Unfilled orders, end mo.thous. of dolls. _ 3,260 Agricultural machinery and equipment: ShipmentsTotal rel. to 1923-25122.6 90.7 87.3 171.4 U16.0 112.0 80.0 82.4 Domestic rel. to 1923-25.. •117.2 161.7 8 178.0 125.6 133.8 Foreign , rel. to 1923-25.. 109. 9 220.4 3 123.5 121.1 136.0 Production rel. to 1923-25.. 130. 7 137.7 Foundry equipment: 98.0 95.8 106.8 129.7 123.6 New orders rel. to 1922-24.. 113.4 110.4 97.2 116.4 110.6 Shipments rel. to 1922-24.. Unfilled orders, end of 106.3 105.8 103.5 120.6 132.9 month rel. to 1922-24.. Stokers, mechanical: 67 95 75 85 Sales (new orders) number.. 27,222 16,955 32, 202 26,572 43,643 Sales (new orders) horsepower.. Machine tools: 134 169 133 218 201 New orders rel. to 1922-24.. 149 157 152 149 175 Shipments rel. to 1922-24.. 214 192 330 231 293 Unfilled orders, end of mo..rel. to 1922-24.. Woodworking machinery:! 1,144 1,075 1,305 1,145 New orders thous. of dolls.. 1,124 1,152 1,172 1,130 Shipments thous. of dolls.. 12 23 19 23 Cancellations thous. of dolls.. 854 881 872 920 Machines shipped number.. 997 1,470 1,456 975 Unfilled orders, end of mo—thous. of dolls.. Electric hoists: New o r d e r s 223 270 346 272 399 Quantity number.. 102,238 122,663 160,852 172,472 Value dollars.. 114,835 139,066 102,206 133,842 166,920 Shipments dollars.. 121,445 Electric overhead cranes: 764 637 Shipments thous. of dolls.. 762 432 595 525 New orders thous. of dolls.. 566 586 358 519 Unfilled orders, end mo thous. of dolls.. 2,117 1,792 1,735 1,763 1,975 Electric industrial trucks and tractors: Shipments, domesticTractors number of vehicles.. All other types number of vehicles.. Exports number of vehicles.. a Revised. *See tables on p. 21 of the March, 1928, issue for earlier data. t See p. 41 of Part II, Metal,0 and Machinery, of the Record Book of Business Statistics. +10.2 +13.3 +64.2 -7.8 +17.4 +12.6 +.4 +.7 -1.7 +30.0 103,821 +12. & 3,189 +144. 7 928 1,814 20 I +17.6 185 I - 1 . 1 27 !I +12. 5 28 TREND OF BUSINESS MOVEMENTS—Continued 1927 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" 1938 October November December 48,472 111 43, 723 114 47,870 PER CENT INCREASE ( + ) OR DECREASE (—) 1937 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 Feb., 1928, from Feb., 1927 1937 1938 +29.6 -5.7 0.0 -13.9 185 94,656 163 83,885 -10.5 -28.9 +19.6 -.4 -33.3 +10.9 6,177 90 119 6,640 77 112 +2.3 -2.6 145,400 169, 784 135,892 159,324 +1.8 +9.4 255,783 276,207 144, 063 81,063 247,571 285,947 138,613 95,187 January February January February IRON AND STEEL—Continued Machinery—Continued Fire-extinguishing equipment, shipments: Motor vehicles number. Hand types number. Patents issued: Total, all classes numberAgricultural implements number. Internal-combustion engines number. 3,185 57 73 40,710 47,354 47,302 3,504 45 51 3,136 32 61 3,029 42 64 3,148 48 55 68,469 77,429 67,423 81,895 76,198 89,719 69,202 80, 065 -1.5 +5.8 128,923 148,961 60,862 51,322 122,723 140, 546 64,824 52,095 124,848 145,401 73, 789 43,092 133,110 143,337 76,499 43,879 122, 673 132,870 67, 563 37,184 +1.7 +3.5 +13.8 -17.3 +15.9 90,874 250,014 .1332 95,298 248,420 .1377 96,476 237,961 .1385 86, 932 247, 739 .1382 276,316 .1299 105,401 272, 757 .1268 -9.9 +4.1 -.2 -17.5 -9.2 +9.0 104. 71 104. 33 99.44 98.59 98.40 105. 91 105.16 -.2 +6.4 432 446 1,187 476 332 464 470 1,161 442 292 492 404 1,213 381 316 449 425 1,189 414 315 435 453 1,150 399 297 501 424 1,149 468 415 1,143 +9.2 +.6 275 -3.1 +6.6 -3.3 -3.6 -5.7 412 366 413 441 412 341 345 -6.6 +19.4 4,232 61 60 3,170 42 33 83, 551 68,080 79,878 67,822 85,862 124,927 145,278 68,619 41,317 118,269 141, 975 59,264 41,129 83,882 246,354 .1296 NONFERROUS METALS Copper Production: Mines short tons. Smelter short tons. Refined (North and South America) short tons. World production, blister short tons. Domestic shipments, refined short tons. Exports short tons. Stocks (North and South America), end mo.: Refined short tons. Blister short tons. Wholesale price, electrolytic dolls, per l b . 71 43,175 8 +9.2 Copper Products Plumbing fixtures: Wholesale price, 6 pieces dollars.. Wire cloth: Production thous. of sq. ft.. Shipments thous. of sq. ft.. Stocks, end of month. thous. of sq. ft.. New orders thous. of sq. ft.. Unfilled orders, end of mo..thous. of sq. ft.. Make and hold orders, end of mo thous. ofsq. ft. -7.1 884 878 813 +8.0 Tin Deliveries (consumption) Stocks, end of month: World visible supply United States Imports Price, pig, New York long tons. 6,006 5,665 4,535 5,415 5,790 6,295 5,965 +6.9 -2.9 12,260 11,205 long tons. long tons. .long tons. dolls, per l b . 14,684 3,158 7,179 5,756 14,594 2,003 4,876 .5709 15,733 1,573 3,958 .5805 15,244 3 2, 518 5,727 .5518 17,645 1,998 5,992 .5179 15,342 3,304 7,966 .6479 14,221 2,484 4,704 .6653 +15.8 -20.7 +4.6 -6.1 +24.1 -19.6 +27.4 -22.2 12,670 11,719 Retorts in operation, end of month...number. Production... short tons.. Stocks, end of month ..short tons.. Ore, Joplin district: Shipments short tons.. Stocks, mines, end of month short tons.. Price, slab, prime western dolls, per lb.. 76,067 50,185 36,223 76,627 49, 217 39,320 77,084 52,347 40,751 72,204 52,414 42,163 72,444 50,042 41,317 85,836 51,341 32,938 +.3 56,898 29,912 -4.5 -2.0 -15.6 -2.5 +25.4 108,239 102,456 54, 586 43,147 .0572 37,612 49,905 .0564 47, 217 52,398 .0555 69,835 25, 515 .0666 46, 603 29,202 .0667 +25.5 +5.0 -1.6 +1.3 +79.4 -16.8 116,438 84,829 39,296 .0575 56,134 57, 703 56,812 54,820 55,768 59,383 54,151 +1.7 +3.0 113,534 110,588 7,864 66,157 53,017 155,868 .0667 8,207 70,752 57,035 155, 568 .0626 13,079 83,003 57,027 156,280 .0650 7,463 6,665 75,855 72,264 55,970 157,417 i. .0650 ! .0633 10,812 64,768 56,345 134,682 .0758 7,448 61,305 51,722 139,824 .0742 -10.7 -4.7 -10.5 +17.9 18,260 126,073 14,128 148,119 -2.6 -14.7 85,163 137,830 82,762 33,154 72,424 146,113 69,356 28,993 55,974 157,868 66,504 33,160 70,633 156,020 78,494 36,473 75,663 165, 514 83,479 43,321 83,117 182,363 +7.1 +6.1 +6.4 +18.8 -8.6 -12.5 165,927 146,296 +4.6 +.5 166,612 161,973 47,343 82,810 189,108 79,810 43,104 98,731 188,202 95,032 77,862 193,811 76,055 66,913 204,744 78,292 86,946 201,891 94,242 87,383 217,715 97,407 102,986 256,114 106,720 +.5 +7.8 +3.4 -1.6 -18.6 +13.4 191,818 174,329 267,550 85,880 192,600 191,649 198,791 123,865 199,141 199,133 _ Zinc Lead Production short tons.. Ore shipments: Joplin district short tons.. Utah short tons.. Receipts in U. S. o r e . . . short tons. Stocks, U. S. and Mexico, end mo ...short tons. Price, pig, desilverized, N . Y dolls, per lb. 76,430 29,776 Enameled Ware Baths: Shipments pieces.. Stocks, end of month pieces.. New orders __ pieces.. Unfilled orders, end of month. pieces.. Lavatories: Shipments pieces. Stocks, end of month pieces. New orders pieces. Sinks: Shipments pieces. Stocks, end of month pieces. New orders ..pieces. Miscellaneous sanitary ware: Shipments pieces.. Stocks, end of month pieces.. New orders pieces.. Small ware (all except baths): ,fc &< . itt$ Unfilled orders, end of month ..pieces. Enameled sheet-metal ware: Shipments dozen pieces.. 3 Revised. 113,717 213,006 106,438 83,780 223,265 84,031 73,450 233,091 86,879 93,739 232,325 97,336 90,126 260,971 101,797 99,178 296,158 104,926 99,613 311,786 94,215 +12.3 +4.6 -9.5 —16.3 +8.0 44,998 133,612 45,972 40,441 131,329 138,279 34,675 140,597 38,814 42,043 133,366 40,353 42,601 136,524 44,945 40,465 130,881 44,262 45,630 139,952 43,349 +1.3 +2.4 +11.4 +3.7 124,840 117,617 118,617 +25.0 +5.2 350, 748 372,452 97,538 95,330 104,774 99,903 322,081 287,115 307,280 319, 218 -6.6 —2.4 86,095 84,644 ~~87,~6n~ "857298" j Per ct. i 29 TREND OF BUSINESS MOVEMENTS—Continued 1927 The cumulative* shown are through February, Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" 1928 PER CENT INCREASE ( + ) OR DECREASE (—) 1937 Novem- DecemOctober January February January February ber ber Feb., 1928, from Jan., 1928 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 Per ct. in- (+) or decrease (-) Feb., 1928, from Feb., 1927 1937 -18.0 -3.7 -21.5 10,892 2,286 8,606 9,399 1,921 7,478 -13.7 -16.0 -13.1 -6.0 882,078 304,451 530,110 47, 517 763,843 296,468 416,539 50, 836 -2.6 -21.4 543,690 463,821 555,015 496,373 58, 642 -26.6 1938 cumulative 1928 from 1927 NONFERROUS METALS-Continued Other Metal Products Babbitt metal, consumption: 4,466 4,929 4,506 Total apparent thous. of lbs.. 5,115 1,186 1,296 894 Direct by producers thous. of lbs.. 1,255 3,320 3,170 4,034 Sale to consumers thous. of lbs.. 3,860 Band instruments, shipments: Total dollars.. 594,020 603,944 589,967 318,106 Cup mouthpieces dollars..! 234,399 216,128 223,946 126,852 Saxaphones dollars..! 325,587 352,960 340, 266 169,050 22,204 25, 755 34,856 Wood wind dollars..| 34,034 Electrical E q u i p m e n t i Motors: New orders dollars.. 740,366 626,092 864,562 569,883 Billings (shipments) _ dollars.. 834,479 630,628 815,830 638, 562 Outlet boxes and covers, shipments pieces.. 2,577,732 2, 728,841 1,947,433 2,139,038 Vulcanized fiber: Shipments, total thous. of dolls.. 748 667 596 Consumption thous. of l b s . . 2,030 1,929 2,231 Nonmetallic conduits, shipments._thous. of ft.. 9,614 9,017 6,735 8,085 Delinquent accounts, electrical trade: Amount dollars.. 156,606 148, 358 197,462 184, 500 Delinquent firms .number.. 1,365 1,361 1,381 1,286 AUTOMOBILES Production: United StatesTotal number of cars. Passenger cars number of cars. Trucks. number of cars. Canada— Total... number of cars. Passenger cars* number of cars. Trucks.number of cars. Exports (assembled): From United StatesTotal _ number of cars. Passenger cars .number of car's. Trucks... number of cars. From CanadaTotal number of cars. Passenger cars number of cars. Trucks.. number of cars. Foreign assemblies _.number of cars_ Sales, passenger cars and motor cycles.. thous. of dolls. Shipments (General Motors Co.): To dealers number of cars. To users number of cars. Accessories and parts: Shipments— Original equipment_.rel. to Jan., 1925. Replacement parts., .rel. to Jan., 1925. Accessories rel. to Jan., 1925> Service parts rel. to Jan., 1925. Exports. _ thous. of dolls. Rim production. thous. of rims. 5,440 1,220 4,220 445,737 169,616 247,489 28, 632 407,776 143,893 240, 763 23,120 -9.3 +14.9 -14.6 474,302 +40.1 160,558 +33.7 289, 347 +46.4 24,397 +28.9 5,452 1,066 4,386 +5.6 -14.5 +17.4 +7.0 692,583 731,426 766,011 671,208 2,258,668 2,055,172 795 2,939 10,488 732 2,371 8,464 184,688 1,407 180,048 1,397 206,283 1,505 +.1 -10.5 +3.4 -6.5 +39.6 +6.1 +41.5 +10.1 +24.6 -19.8 +2.1 +7.0 219,712 183,042 36,670 134,411 109, 758 24, 653 133, 551 106,079 27,472 231,647 205,543 26,104 323, 368 290,830 32, 538 238,927 199,650 39, 277 304, 763 264,171 40, 592 7,791 6,236 1,555 6,617 5,173 1,444 3,435 2,277 1,158 8.463 6,705 1,758 12,504 10,315 2,189 15,376 11,745 3,631 18,655 14,826 +47.7 +53.8 +24.5 -33.0 -30.4 -42.8 34,031 26, 571 7,460 20,967 17,020 3,947 -38.4 -35.9 -47.1 27, 718 19,366 8,352 31,405 21, 396 10,009 23, 609 16,473 7,136 32, 060 20,476 11,584 33,952 25,114 29,835 22,122 7,713 31.524 21,355 10,169 +5.9 +7.7 +22.7 +17.6 -23.7 -13.1 61, 359 43,477 17,882 66,012 45,590 20,422 +7.6 +4.9 +14.2 3,507 2,380 1,127 12,988 3,876 2,403 1,473 12,481 2,193 1,857 336 12, 518 3,502 1,838 1,664 3 12,114 4,111 2,628 1,483 12,044 7,466 5,296 2,170 14,943 5,308 3,597 1,711 16,154 +17.4 +43.0 -10.9 -22.6 -26.9 -13.3 -25.4 12,774 3,881 31,097 7,613 4,466 3,147 24,158 -40.4 -49.8 -18.9 -22.3 185, 626 148, 071 63,381 64,403 85, 667 149,437 128,459 153,833 57,621 80, 539 60,071 53, 760 125,181 107,278 169,232 132,029 99,367 81,010 124,426 102,025 +35.2 +36.0 +23.1 +29.4 223, 793 183,035 294,413 239,307 +31.6 +30.7 124 174 103 120 6,600 1,385 132 75 143 7,501 111 126 61 104 7,505 1,134 163 137 79 142 7,489 1,812 187 128 91 158 9,570 1,806 132 107 79 140 7,411 1,489 158 100 93 155 7,991 1,753 +14.7 +18.4 - 6 . 6 +28.0 +15.2 - 2 . 2 +11.3 +1.9 +27.8 +19.8 - . 3 +3.0 15,402 3,242 17,059 3,618 +10.8 +11.6 44, 208 41,351 85, 559 -22.1 796 52,904 1,384 1,352 109,786 850" 56,882 1,570 1,720 3,672 -46.4 680 586 -13.8 12,413 405 11,272 457 +12.8 +3.7 - 4 8 . 3 -4.4 +7.9 1,541 7,135 766 7,588 -50.3 +16.9 +28.8 118 141 +19.5 FUELS Coal and Coke Bituminous: Production.thous. of short tons., United States .thous. of short tons.. Canada _ -thous. of long tons.. Exports Consumption— .thous. of long tons.. By vessels By electric power .thous. of short tons., plants... .thous. of short tons.. By railroads By coke plantsthous. of short tons., United States thous. of short tons.. Canada PricesMine aver, (spot)..dolls, per short ton., Wholesale cornp...dolls, per short ton., Retail, composite-.dolls, per short ton_. Anthracite: Production thous. of short tons., Exports .thous. of long tons.. PricesWholesale, comp_...dolls, per long ton.. Retail, composite. .dolls, per short ton.. Coke: Production, U. S.— Beehive thous. of short tons. By-product thous. of short tons. Production, Canada. .thous. of short tons. Exports . thous. of long tons. Price, furnace, Connellsville .dolls, per short ton.. Revised. 4,470 1,027 3444 3,444 I 44,000 1,477 1,252 40, 628 1,753 1,121 41,277 1,867 832 351 363 271 319 376 304 3,663 8,418 3,560 7,847 5,626 229 3,719 8,198 3,678 3,804 9,186 3,336 8,074 5,834 261 6,168 257 6,557 251 6,124 226 9.33 1.90 4.160 9.32 1.90 4.144 9.31 1.84 4.093 9.21 1.86 4.069 9.28 2.30 4.450 9.97 7,404 310 6,902 277 6,032 5,690 233 5,582 224 13. 389 15.07 13.389 15.07 13.389 15.08 13.130 15.08 419 3,720 152 379 3,500 157 75 377 3,646 177 63 376 2.83 2.79 6,006 223 1.95 4.199 2.91 179 65 -6.4 -41.1 -16.3 -12.2 2.11 4.338 9.86 +1.1 -.6 +.8 -11.8 -6.2 -5.9 6,561 220 5,852 185 -1.9 -3.9 +21.1 13. 232 15.09 13.779 15.42 13.724 15.44 +.8 +.1 -3.6 -2.3 3,708 787 3,700 177 754 3,435 158 59 267 76 -4.6 2.78 3.88 ' 3.70 i -2.5 - 2 6 . 8 2.71 * See table on page 18 of the present issue for earlier data. -9.2 +6.3 30 TREND OF BUSINESS MOVEMENTS—Continued 1927 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, 'Survey" October November jiPer ct. TOTAL I inPER CENT IN- CUMULATIVE FROM JANUARY 1 crease 1928 1927 CREASE (+) O R THROUGH FEBRUDECREASE (—) ARY 28 or decrease Feb., Feb., cumu1928, 1928, Decem- I lative - j January February January February from from 1928 1927 1928 Jan., Feb., from 1928 1927 1927 FUELS—Continued Petroleum Crude petroleum: Production thous. of bbls. Stocks end of month— Total (comparable) thous. of bbls. Tank farms and pipe lines thous. of bbls. Refineries.— thous. of bbls. CaliforniaLight thous. of bbls. Heavy thous. of bbls. Imports thous. of bbls. Consumption (run to stills).thous. of bbls. Refinery operations per ct. of capacity. Price, Kansas-Oklahoma dolls, per bbl. Oil wells completed numberGasoline: ProductionRaw (at refineries) thous. of bbls. Natural gas (at plants)..thous. of bbls. Exports thous. of bbls. Consumption thous. of bbls. Stocks, end of m o n t h Raw (at refineries). thous. of bbls. Natural gas (at plants)._thous. of bbls. PricesWholesale, New York___dolls. per galRetail, wagon, 50 cities*.dolls. per gal. Retail distribution, 41 States.thous. of gals. Kerosene: Production thous. of bbls. Exports thous. of bbls_ Consumption thous. of bbls. Stocks at refineries, end mo.thous. of bbls. Retail distribution, 13 States.thous. of bbls. Price, 150° water white dolls, per galGas and fuel oils: Production thous. of bbls. Consumption— By vessels ._ thous. of bbls. By electric pow. plants..thous. of bbls. By railroads thous. of bbls. Stocks at refineries, end mo.thous. of bbls. Price, Okla. 24-26, refinories.dolls. per bbl. Lubricating oil: Production thous. of bbls. Consumption .__ thous. of bbls. Stocks at refineries, end mo_thous. of bbls. Price, cylinder oil dolls, per gal. Asphalt: Production thous. of short tons. Stocks, end of month..thous. of short tons. Imports thous. of short tons. Coke: Production thous. of short tons. Stocks, end of month..thous. of short tons. Wax: Production thous. of lbs_ Stocks, end of month thous. of lbs. 139,349 139,973 +0.4 8,695 132, 639 12,181 133, 794 +40.1 +0.9 2,727 1,600 -41.3 52, 984 6,078 6,900 36,128 54,654 6,646 7,018 42,075 +3.2 +9.3 +1.7 +16.5 9,566 2,973 6,472 3,886 5,963 +2.5 63,121 63, 215 +4.6 7,527 1,491 8,002 7,534 1,128 -24.3 4,915 2,747 5,386 3,139 +9.6 +14.3 364 408 +12.1 33 11 -66.7 181 203 +12.2 101,477 104, 388 +2.9 71,677 72,500 +1.1 329,742 281,656 342,726 291,186 +3.9 +3.4 77,081 73,778 72,321 67,652 71,475 67,874 345,357 348,885 351,646 I 358,892 362, 963 278,972 285,458 306,803 38, 554 310,058 38,827 312,411 39,235 317, 725 41,167 320,602 42,361 243,428 35, 544 247, 749 37,709 21, 609 91,858 4,633 71,932 80 1.240 1,086 21,191 92, 555 5,339 69,587 81 1.230 1,044 20,058 91, 797 6,209 70,323 79 1.220 905 20,493 94,327 6,145 68,193 72 1.220 764 20,110 94, 797 6,036 65, 601 73 1.213 836 31,017 87,971 4, 514 69, 603 79 1.750 1,385 29,770 87, 640 4,181 63,036 79 1.700 1,342 28,903 3,419 3,805 25,497 28, 558 3,410 3,654 24,400 28, 512 3,512 2,949 23, 718 27,879 3,367 3,692 20,939 26, 775 3,279 3,326 21,136 27,960 3,145 3,425 17,888 29, 550 923 30,401 820 32,323 734 36,112 740 38, 782 824 46,058 560 +7.0 +11.8 -4.3 +0.9 +15.9 49, 714 +7.4 -22.0 618 +11.4 +33.3 .170 .143 810,470 .170 .142 742,145 .170 .143 » 674,840 .170 .143 3 629,464 .170 .147 4,884 2,193 3,469 7,325 3 32,995 .073 4,824 1,815 2,514 7,841 3 28, 719 .073 4,869 1,226 3,819 7,669 3 29,902 .072 5,047 2,345 2, 742 7,670 3 27,690 .070 4,783 1,541 3,221 7,692 0.0 -20.5 34,045 32, 594 33,029 32,271 30,944 32,936 30,185 -4.1 4,594 507 4,652 33,191 .865 4,110 507 4,123 33,637 .838 4,264 649 4,211 31,982 .800 3,783 589 3,751 539 29, 011 .850 3,587 670 3,719 22,099 1.250 -0.8 -8.5 29, 623 .800 3,940 821 4,283 23,195 1.255 2,757 1,782 7,584 .253 2,477 1,739 7,524 .245 2,801 1,663 7,860 .245 2,658 1,606 7,978 .245 2,728 1,533 8,332 .245 2, 570 1,496 7,887 .255 2,345 1,231 8,361 .255 333 189 14 290 196 263 221 199 209 7 209 320 4 191 215 19 173 235 14 102 331 102 349 108 345 103 330 100 337 287 295 49,476 170,367 48,146 171, 700 54,039 167,214 55,320 168,900 49, 068 166,244 54,114 192,835 50,370 30,184 3 48,565 38, 592 3 54,315 30, 736 47,378 39,108 33, 392 56, 559 43, 340 33,845 6 74,391 • 60, 592 32, 654 1 74,108 .070 -6.5 25,024 2,933 3,475 18,240 -4.0 -2.6 -9.9 .210 .218 .175 .170 3 545, 510 3 529,487 +2.8 5,113 1,592 3,882 8,190 3 29, 515 .094 3 4,453 1,381 2, 590 8,655 28, 729 -0.3 +1.1 +27.2 +0.9 +29.4 +2.9 +12.3 -1.9 -32.4 +0.5 +8.2 -1.8 +44.4 -3.8 +4.1 +1.4 - 7 . 6 -0.6 -28.6 +9.4 -37.7 0.0 -22.0 -13.5 -5.2 +7.4 -34.3 +11.6 +17.5 +24.4 +0.3 -11.1 -19.6 +31.3 +6.3 -32.0 +2.6 +16.3 -4.5 +22.5 -0.3 +4.4 +2.8 +30.7 -7.9 +0.1 +0.1 -2.1 0.0 47,363 198,452 -2.9 +2.1 -11.3 -1.6 +20.8 +36.2 -71.4 +13.6 +14.2 +3.6 -16.2 44, 639 28, 337 -14.6 +17.8 +5.0 +53.1 -42.9 RUBBER Crude Rubber World shipments, plantation Imports (including latex) Consumption (quarterly): Total For tires Consumption by tir e mfrs Stocks, end of quar ter: Total Manufacturers Dealers Afloat ._ _. World stocks, end of month: World total United States Europe Producing countries Afloat Wholesale price, Para, N. Y long tons.. long tons.. ..long tons_. » 82,073 long tons.. 5 69,369 thous. of lbs_. 37,130 tons.. tons.. tons.. tons.. * 90,861 « 72,589 .«17,872 «36,006 -long tons.. --long tons.. long tons.. long tons.. long tons.. dolls, per lb_. 263, 683 97,453 73,876 27, 654 64, 700 .249 long long long ...long 264, 590 101, 034 70,880 30,376 62,300 .273 7 76,555 7 64,891 44, 078 43, 709 « 96,601 6 77,932 618, 669 » 44, 890 7 68,876 7 58, 785 7 10,091 7 50, 529 261, 592 100,131 66,737 27,324 67,400 .294 237,425 76,172 58, 329 27, 224 75, 700 27, 453 69, 594 .234 45,037 248, 740 91,186 62,443 28, 611 66, 500 .261 -18.7 I -10.3 Tires and Tubes Pneumatic tires: 3,394 3,603 3,391 ! Production thousands.. 7,635 7,734 I Stocks, end of month _ thousands. _ 7,287 Shipmentsi 3,484 Domestic thousands.. 3,100 2,959 ! 133 145 Export thousands.. 178 i * See table on p. 21 of the March, 1928, issue for earlier data. Revised. 4,126 7,491 3,731 7,839 3,834 8,298 3,204 151 3,924 3,534 132 172 «6Quarter ended Sept. 30, 1927. Quarter ended Dec. 31, 1927. 7 Quarter ended Dec. 31, 1926. 31 TREND OF BUSINESS MOVEMENTS—Continued 1928 1927 The cumulative* shown are through February. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" PER CENT INCREASE ( + ) OR DECREASE (—) 1927 October November December thousands.. thousands.. 3,809 10,187 10,216 3,742 10,297 4,086 9,760 4,007 11,704 3, 724 12, 595 thousands.. thousands.. 3,685 3,463 3,413 133 4,469 90 4,428 89 3,763 80 thousands.. thousands.. 34 162 32 161 33 161 28 4 37 164 44 166 46 163 31 3 36 7 40 January February January February Feb., 1928, from Jan., 1928 Feb., 1928, from Feb., 1927 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 Per ct. increase ( -y or decrease (-) cumulative 1928 from 1927 1927 1928 167,942 172, 723 +2.8 216, 297 222,180 +2.7 50,663 5,259 22,891 11,846 7,526 69,830 6,271 35,125 12,901 +37.8 +19.2 +53.4 +8.9 +24.8 R U B B E R - Continued Tires a n d Tubes—Continued Inner tubes: Production. Stocks, end of month Shipments— Domestic Export Solid and cushion: Production Stocks, end of month__ ShipmentsDomestic Export... thousands.. thousands.. Other Rubber Products Reclaimed rubber (quarterly): Production long tons . Stocks, end of quarter long tons. Scrap rubber (quarterly): Stocks at reclaimers long tons. Consumption by reclaimers long tons. Rubber-proofed fabrics: Production— Total. thous. of yds. Auto fabrics thous. of yds. Raincoat fabrics thous. of yds. All other ..thous. of yds. New orders, auto fabrics thous. of yds. Production, relative to capacity..per cent. Rubber heels: Production thous. of pairs. Shipments— To shoe manufacturers.thous. of pairs. To repair trade thous. of pairs. For export thous. of pairs. Stocks, end of month thous. of pairs. Rubber soles: Production thous. of pairs. Shipments— To shoe manufacturers.thous. of pairs. To repair trade thous. of pairs. For export thous. of pairs. Stocks, end of month thous. of pairs. Mechanical rubber goods: ShipmentsTotal thous. of dolls. Belting thous. of dolls. Hose thous. of dolls. All other thous. of dolls. s 39,449 « 17,812 6 46,530 e 19, 567 7 44,989 7 18,160 5 55,547 «50,495 a 62,016 « 61,331 t 65,969 7 58,410 3 4, 634 819 3,179 636 827 31.2 a 3,791 691 2,489 611 720 26.3 3 2, 518 621 1,303 594 710 23.6 21,151 20,556 19,203 10,546 9,305 913 39,723 10,245 7,129 1,415 41, 727 8,384 6,009 1,087 42,802 3,697 3,347 2,169 1,096 46 3,899 1,916 718 784 414 957 35.7 2,084 718 881 485 1,005 51.0 17,682 13,660 12, 733 10, 786 6,314 793 43, 796 4,013 793 46,355 3,255 3,431 1,475 2,520 976 142 3,872 2,498 974 129 3,257 2,243 916 675 3,148 749 152 216 3,247 621 132 18 3,309 5,244 1,368 1,837 2,039 4,941 1,175 1,840 3 1,925 5,898 1,557 2,190 2,151 5,630 1,388 2,257 1,984 5,327 1,263 2,351 1,713 5,678 1,370 2,447 1,861 36,356 3,699 21, 561 5,700 3,195 37,328 3,717 20,634 4,676 38,151 3,177 23,391 5,326 3,740 36,409 3,410 18,856 5,448 5,117 26,110 2,296 12,357 5, 791 3,763 24,553 2,963 10, 534 6,055 3,763 248,187 200,220 27,942 20,025 249,673 203,146 26,973 19,554 242,300 198,623 26,803 16,874 244,242 204,224 16,193 260,214 210,528 32,368 17,318 244,323 195, 481 31,897 16,945 .233 .218 .242 .228 .250 .250 .261 .300 .291 .155 .169 895 413 761 376 1,194 881 411 3,688 1,070 1,094 711 383 5,479 1,151 666 374 5,780 1,048 117,252 208,308 137,970 132,344 248,367 132,617 79,399 253,643 42,951 66,128 271,156 26,090 61,041 247,966 18,482 1,246 22,704 66,056 93,892 20,124 172,350 1,243 23,034 72,143 91,457 20,057 150,168 3 1,223 23,095 71,415 79,438 19,931 119,896 6,652 4,062 1,113 48,010 HIDES AND LEATHER Hides Imports: Total hides and skins thous. of l b s . . Calfskins thous. of lbs Cattle hides thous. of lbs._ Goatskins thous. of lbs. Sheepskins thous. of l b s . . Stocks, end of month: Total hides and skins thous. of l b s . . Cattle h i d e s . . thous. of l b s . . Calf and kip skins thous. of l b s . . Sheep and lamb skins thous. of l b s . . Prices: Green salted, packers' heavy native steers dolls, per lb__ Calfskins, country No. 1 dolls, per lb__ Inspected slaughter of livestock: United S t a t e s Cattle thous. of animals. Calves thous. of animals.. Swine thous. of animals.. Sheep thous. of animals.. CanadaCattle and calves no. of animals.. Swine no. of animals.. Sheep no. of animals.. Leather Production: Sole leather..thous. of backs, bends, sides._ 1,325 Finished sole and belting thous. of l b s . . 24,230 Finished upper thous. of sq. ft.. 70,081 Oak and union harness stuffed sides.. 90,707 21,574 Skivers doz 180,301 Unfilled orders, harness sides Stocks in process of tanning: Sole and belting thous. of lbs._ 79,600 Upper thous. of sq. ft. 147,790 I 3 Revised. « Quarter ending Sept. 79,669 I 82,065 148,978 I 148,121 30, 1927. 33,421 2,861 I 16,269 7,453 4,276 1,245 j 85,564 20,225 79,277 -8.2 -16.1 -13.7 +36.8 -16.4 +36.1 -3.4 +54.4 +23.1 +13.6 .145 .158 -5.0 -3.0 +71.0 +84.2 786 397 4,514 1,115 700 377 3,395 1,006 -6.7 -2.3 +5.5 -8.9 -4.9 -.8 +70.3 +4.2 1,486 774 7,909 2,121 1,377 757 11,259 2,199 +42.4 +3.7 69,456 255,469 29,923 219,752 20,791 -7.7 -8.6 -29.2 +1.6 +12.8 -11.1 129,554 475,221 50,714 127,169 519,122 44,572 -12.1 1,170 23,235 71,974 63,957 19,781 143,912 1,221 23,944 68,506 63,724 20,417 126,087 +1.8 +2.0 2,391 2,468 +3.2 +7.7 +1.5 +34.3 127,681 40,198 165,002 40,156 +29.2 85,396 I 85,718 89,060 149,952 I 158,946 151,364 » Quarter ending Sept. 31,1927 -.9 -37.1 » Quarter ended Dec. 31,1926. -7.3 -2.2 -1.8 +9.2 -.1 32 TREND OF BUSINESS MOVEMENTS—Continued 1938 1927 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" October November 60,811 244,268 59,163 250,364 PER CENT INCREASE ( + ) OR DECREASE (—) 1927 Decem- January February ber January February Feb., 1928, from Jan., 1928 Feb., 1928, from Feb., 1927 +3.6 +33.8 +21.0 +70.0 +97.4 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 1927 1928 Per ct. (+) or decrease (-) cumu lative 1928 from 1927 HIDES AND LEATHER—Continued Leather—C ontinued Stocks, end of month: Sole and belting thous. of lbs. Upper thous. of sq. ft. Exports: Sole__ thous. of lbs_ UpperTotal thous. of sq. ft_ Cattle and calf thous. of sq. ft. Patent. thous. of sq. ft. Sheep thous. of sq. ft. Prices: Sole, oak, scoured backs, heavy, Boston-_ _dolls, perlb. Chrome calf, " B " grades-dolls, per sq. ft. Leather Products Shoes: Production _thous. of pairs. Exports thous. of pairs. Wholesale pricesMen's black calf blucher, Mass _.-dolls, per pair. Men's dress welt, tan calf, St. Louis.. .dolls, per pair. Women's black kid, dress welt, lace, oxford dolls, per pair. Gloves: Glove leatherProduction thous. of skins. Stocks (tanned)— In process __ -thous. of skins. Finished.. thous. of skins. Gloves, c u t Total dozen pairs. Dress and streetImported leather dozen pairs. Domestic leather dozen pairs. Work gloves .__ .dozen pairs. PAPER AND PRINTING Wood Pulp Mechanical: Production. short tons. Consumption and shipments—short tons. Stocks, end of month short tons. Imports short tons. Chemical: Production short tons. Consumption and shipments...short tons_ Stocks, end of month. _ short tons. Imports short tons. Price, sulphite dolls, per 100 lbs. Newsprint Paper Production: United States, total .short tons. Ratio to capacity -per cent. Canada short tons. Consumption by publishers short tons. Shipments: United States short tons. Canada .short tons. Imports short tons. Exports: United States short tons. Canada short tons. Stocks, end of month: At millsUnited States short tons. Canada short tons. At publishers short tons. In transit to publishers short tons. Price, roll, f. o. b dolls, per 100 lbs. Printing Book publication: American manufacture.. no. of titles. Imported.. no. of titlesSales books: New orders thous. of books.. Shipments _ thous. of books.. Printing activity weighted index number. Cash checks, shipments thous. of checks* Revised. 57,017 247,409 54,828 245,931 67,806 272,897 66, 340 274,197 800 719 924 1,265 1,076 712 1,039 -14.9 12,177 7,634 3,659 16,530 11,093 4,742 14,488 9,975 3,715 798 15, 532 10, 614 4,103 815 15,567 10,750 3,836 981 12, 663 8,875 3,144 644 11,636 8,882 2,257 497 +.2 +1.3 -6.5 +20.4 .55 .51 .55 .51 .59 .54 .59 .54 .65 .43 .45 .43 .45 32,267 376 25,973 433 25, 723 388 303 24,993 491 27,292 397 5 23, 525 381 -20.9 6.50 6.50 6.75 6.75 6.40 6.40 0 5.00 5.00 5.00 5.00 5.00 4.85 4.85 0 4.00 4.00 4.00 4.03 4.15 4.00 4.00 +3.0 918 858 111 727 1,467 2,457 1,434 2,481 1,150 2,611 1,140 2,767 1,913 2,672 1,857 2,761 244,090 225, 779 182,810 177,884 196,270 197,987 59,601 36, 537 147,952 50, 532 33, 635 141, 612 41,150 22,430 119, 230 37, 738 24, 650 115,496 50,917 27, 736 117, 617 58, 681 31, 348 107,958 i|. il 121,051 130,465 147,160 21,190 137,245 143,220 158,717 28,308 133,788 135,632 156,872 24,976 141,137 139,711 158,868 21,082 213,472 213, 524 38,234 133,170 2.53 214,936 213,772 41, 552 142,736 2.53 210,388 207,064 45,198 152,764 2.53 113,126 77 191,171 184,805 117,166 79 190, 293 185, 202 116,885 188,769 173,540 -23.7 +3.1 +4.9 +5.5 +.3 +66.2 +0.3 +1.5 -0.8 +2.0 +5.2 +17.8 - 1 6 . 7 +45.2 0 -8.0 180,100 12, 723 156,164 2.53 130,152 2.53 229, 580 229,382 38,730 153, 584 2.75 206,646 204,248 39,950 89,662 2.75 119,312 81 181, 600 182,027 119,525 84 186, 721 172,952 112,302 135,395 119,953 189,822 162,573 161, 724 168,241 151,986 156,621 116,468 187,766 187,796 123,883 181,439 180,467 114,211 186,829 177,808 109,666 188,163 172,635 130,973 158,866 166,102 117, 636 146,365 134,209 739 159,284 847 179,969 535 169,202 1,758 157,466 183,414 1,360 142,329 874 141,199 -38.3 +16.5 +29.9 27,939 35,774 214,872 45,789 3.25 28,543 38,074 214,639 46,176 3.25 20,877 38,117 218,177 46,708 3.25 25,905 37,731 207,449 46,522 3.25 28,499 39,145 215,118 48,212 3.25 15,968 17,255 232,944 43, 624 3 3.25 18,426 22,769 224,572 48,251 3 3.25 +10.0 +54.7 +3.7 +71.9 +3.7 - 4 . 2 -.1 +3.6 981 143 738 102 720 102 507 118 12,126 13, Q86 104 10,671 12,934 105 70,413 12,329 11,897 107 43,173 13,851 12,898 105 71,625 82,093 65,865 1 12,919 11,178 104 73,841 -6.5 -2.7 -2.5 -22.2 +3.8 146,077 163,466 183,011 18,378 12,332 11,722 +33.7 +28.0 +20.3 +47.0 +57.4 +5.5 131,925 135,975 154,818 21,151 722 132 2,341 31,099 21,364 7,939 1,796 +10.2 +51.2 +11.1 +33.3 6.50 125,740 1,751 24,299 17, 757 5,401 1,141 271,817 292,352 273,062 275,686 +0.5 -5.f -14.0 -6.4 +1.7 +24.9 -6.0 +3.8 -6.8 ! -4.0 +.7 +28.6 +28.6 -2.9 31,101 42, 233 436,226 433,630 418,828 418,408 +35.8 -4.0 -3.5 243,246 286,316 +17.7 255,348 231,827 -9.2 313,710 324,862 376, 543 335,525 +20.0 +3.3 248,609 305,231 300,311 223,877 374,992 350,443 2,234 283,528 2,297 340,880 -9.9 +22.9 +16.7 +2.8 +20.2 0 0 0 -1.5 +6.0 +4.7 24,551 22,375 24,661 23,619 +.4 +5.6 +52.6 -14.8 151,109 109,038 -27.8 113 j 11,632 11,197 108 77,268 33 TREND OF BUSINESS MOVEMENTS—Continued 1928 1927 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" October PER CENT INCREASE ( + ) OR DECREASE ( - ) 1927 Novem- Decem- January February January February ber ber Feb., 1928, from Jan., 1928 Feb., 1928, from Feb., 1927 CUMULATIVE TOTAL FROM JANUARY 1 j THROUGH FEBRU- ! ARY 28 | 1927 1928 PAPER AND PRINTING-Continued Box Board Operation. thous. of inch hours Operation. per ct. of capacity.. Production _ short tons.. New orders _ short tons.. Unfilled orders, end of month short tons.. Consumption of waste paper short tons. Shipments short tons.. Stocks, end of month .short tons.. Stocks of waste paper, end of month: On hand tons.. In transit and unshipped purchases.-tons.. Other Paper Binders' board, production. short tons. Book paper: Production short tons.. Ratio to capacity per centShipments short tons.. Stocks, end of month short tons.. New ordersCoated p. ct. of normal production.. Uncoated. .p. ct. of normal production. Unfilled ordersCoated p. ct. of normal production.. Uncoated..p. ct. of normal production. Wrapping paper: Production short tons.. Ratio to capacity per cent. Shipments .short tons.. Stocks, end of month short tons.. Fine paper: Production short tons.. Ratio to capacity per cent.. Shipments short tons.. Stocks, end of month... ..short tons.. All other grades: Production short tons.. Shipments short tons.. Stocks, end of month short tons.. Total paper (inc. newsprint and box board): Production short tons.. Ratio to capacity per cent.. Shipments short tons.. Stocks, end of month short tons.. Paperboard Shipping Boxes Production: Total thous. of sq. ft.. Corrugated .thous. of sq. ft. Solid fiber thous. of sq. ft. Operating activity: Total percent of normalCorrugated per cent of normalSolid fiber per cent of normal. Other Paper Products Abrasive paper and cloth: Domestic sales .reams.. Foreign sales reams.. Labels, orders .per ct. of capacity. BUILDING CONSTRUCTION AND HOUSING Rental advertisements: Minneapolis, Minn Real estate conveyances (41 cities) Building Costs .numbernumber . Building materials: Frame house, 6-room rel. to 1913. Brick house, 6-room ...rel. to 1913. Concrete factory costs (Aperthaw)._re\. to 1914. Building costs (Engineering News Record). rel. to 1913. Building costs (A. G. C.) rel. to 1913. Construction costs (Am. Appraisal): Frame rel. to 1913. Brick, wood frame rel. to 1913. Brick, steel frame rel. to 1913. Reinforced concrete rel. to 1913. Contracts awarded (36 States): Commercial buildings thous. of sq. ft.. Industrial buildings thous. of sq. ft. Residential buildings thous. of sq. ft.. Educational buildings thous. of sq. ft,. Other public and semipublic buildings thous. of sq. ft. Grand total thous. of sq. ft.. Revised. 8,902 85.6 226,141 221,548 105,600 220,974 228,222 41,863 8,275 82.8 212, 319 183,576 76,471 202, 646 212,375 41,317 7,444 7,800 71.6 3 78.0 186,920 3 203,146 178,224 »203, 630 74,430 3 82,446 177,329 3 188,521 181,400 3 196,275 42,610 3 49,172 8,076 80.8 210,305 215,259 86,741 193,057 210,053 49,472 70.0 173, 629 194,285 105,669 163,337 175, 528 53,562 7,583 79.0 189,273 183,861 102,005 182,322 189,032 53,327 +3.5 +6.5 +3.6 +2.3 +3.5 +11.1 +5.7 +17.1 +5.2 -15.0 +2.4 +5.9 +7.0 +11.1 +.6 -7.2 128,443 65,008 133,184 52,161 145,549 34,512 142,713 61,078 163,023 38,062 158,222 40,602 -9.2 -2.7 3157,185 62,791 2,537 2,400 1,940 2,547 4,382 2,306 2,730 109,391 83 110,813 74,234 111, 579 85 109,347 76,461 110,463 83 113,225 73,403 121, 509 90 123,332 123,929 93 121, 832 119,965 111, 569 117, 565 64,847 112,015 64,199 76 85 77 77 82 79 87 94 97 9 11 92, 795 87 92,424 80,907 93,479 82 91,329 79, 653 88,863 78 85, 220 84,916 96,223 91 93,144 87,895 93,518 87 92, 957 88,258 38,814 92 50,903 36,665 87 37,398 50,173 38,136 91 37,259 51,044 37, 471 93 35,550 52,410 103, 058 103,040 72, 594 98, 749 99, 251 69,106 97, 718 97,335 68,751 683,325 81 666,168 345, 253 669,957 3 79 638,322 341, 601 427,263 348,835 78,428 —1.1 -11.3 0 0 +22.2 -18.2 -2.8 +8.7 -4.4 -0.2 +8.8 +0.4 +31.9 91,760 86,051 90,934 68,465 85,449 66,916 38,871 97 38,327 52, 973 35,148 34,064 35, 043 52, 794 50,999 99,909 100,689 68,857 97,412 95,425 70,828 100, 755 99,762 67, 593 93, 572 95,095 65, 697 641,414 3 76 638,822 341,601 677, 783 3 82 663, 201 352,504 676,347 82 668,270 361, 708 656, 652 634,482 649,805 323,229 635,096 319, 564 395,491 320, 511 74,980 342,376 272,807 69, 569 347,622 277, 280 70,342 402,183 326,430 75,753 371, 748 293,677 78,071 421,165 336,910 84,255 +15.7 +17.7 +7.7 -4.5 -3.1 -10.1 85 85 83 77 76 81 66 64 72 77 75 84 71 72 81 82 78 +11.6 +11.9 +12.0 +7.7 85,155 389 18.2 72, 726 16,392 54.4 58,265 16,034 78.1 80, 505 317,112 83,969 16,169 76, 717 12, 575 84.5 83, 229 13, 569 81.9 6,711 149,667 4,290 145,167 2,564 143, 731 2,473 139,314 2,465 136,968 3,131 135,935 2,955 129,258 181 185 191 180 184 191 182 187 191 178 183 192 182 186 192 190 190 194 191 190 193 +2.2 +1.6 0 -4.7 -2.1 -.5 202 201 204 200 204 199 205 199 205 199 210 197 209 199 0 0 -1.9 0 205 215 196 201 205 215 196 200 205 214 197 201 205 214 196 200 203 212 197 200 204 213 198 200 204 213 197 200 -1.0 -.9 -.5 -.5 0 0 11,821 5,544 45,608 4,103 7,451 6,382 41,002 4,477 9,082 4,406 38,747 3,582 10,803 4,412 37,516 3,380 9,084 5,384 42,548 3,071 10,037 3,721 29,757 2,329 8,799 4,237 31,025 2,967 6,014 66,560 4,381 73, 765 3,955 60,271 4,855 65,137 50,568 4,760 52,348 +3.7 +14.1 +4.3 +7.8 +1.1 -2.5 +4.1 -5.2 +0.3 +2.9 +7.8 -0.2 +6.6 0 +0.8 +5.2 +2.6 +13.2 +8.9 345, 659 364,560 381, 578 406,328 +10.4 +11.5 5,036 6,929 +37.6 231, 534 245,448 229,580 245.164 +6.0 +6.8 181 190 179 173 -1.1 -8.9 177,811 189,941 +6.7 176, 383 186,101 +5.5 69, 212 76,342 +10.3 70,912 73.877 +4.2 194,327 194,857 197, 321 196,114 +1.5 +0.6 1,291,134 1,354,130 +4.9 1,284. 901 1,331, 471 +3.6 792,913 630, 587 162,326 749,805 603,710 I 146,095 -5.4 -4.3 -10.0 159, 946 26,144 164,474 33,281 +2.8 +27.3 265,193 4,938 276, 282 -18.9 +4.2 18,836 7,958 60,782 5,296 19,887 9,796 80,064 6,451 +5.6 +23.1 +31.7 +21.8 8,026 102,916 8,810 125,408 +9.8 +21.9 -4.9 -8.5 +4.3 +.9 -5.5 +19.2 -16.6 -1.7 I +6.0 +.5 15,876 413,451 I +13.9 418,889 !| +10.8 +50.4 +72.0 +60.5 +2.0 +11.1 +3.3 -1.2 +8.8 +5.0 +11.6 +15.7 +2.1 -.3 14,582 362,902 378,146 0 -15.9 +3.2 +22.0 +27.1 +13.4 +37.1 -9.1 +3.5 +22.8 +2.0 +8.1 +24.4 34 TREND OF BUSINESS MOVEMENTS—Continued 1927 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" 1928 1927 Per ct. increase { V or decrease (-) Feb., 1928, from Feb., 1927 1927 1928 cumulative 1928 from 1927 65,937 40,381 158,004 21,842 -21.9 -8.9 +24.4 -20.2 -21.8 -21.5 +47.2 -16.5 143,766 67, 515 318,033 38, 517 117,545 66,549 419,478 41,086 -18.2 -1.4 +31.9 +6.7 16,772 129 45,765 49,358 381,286 19,517 121 +79.0 -19.4 +8.2 +26.3 +17.6 +13.7 +16.5 +32.6 +2.5 77,390 102,996 750,216 36, 289 125,810 854, 558 46,355 +8.4 +22.2 +13.9 +27.7 37,911 2,378 26,285 1,976 -5.0 -42.1 +56.4 -13.3 64,196 4,354 84,366 4,672 +31.4 +7.3 +16.1 +27.6 +18.1 +.5 +5.1 +3.0 +22.3 825,829 931,536 +12.8 744,154 828, 720 "932," 164" +25.3 +20.5 111, 140 1,332 113,343 1,236 +2.0 920,811 897,534 974,977 101,969 49,443 918,126 877,450 985,720 130,645 46,506 -.3 -2.2 +1.1 +28.1 -5.9 December 77,726 ! 41,893 50,370 | 49,203 236,870 207,308 29,699 30,642 85,286 27,938 202,447 22,480 65,981 34,833 186,904 22,854 51, 564 31,716 232,574 18, 232 77,829 27,134 160,029 16, 675 45, 744 68,716 443,506 30,260 215 35,823 90,194 464,167 53,803 56,134 444,023 25,875 124 31, 625 53, 638 162 30,055 69,676 410,535 20,480 125 18,992 1,309 31,935 1,947 43,261 2,959 41,105 1,713 January February CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 Feb., 1928, from Jan., 1928 November October PER CENT INCREASE ( + ) OR DECREASE (—) January February BUILDING CONSTRUCTION AND HOUSING—Continued Building Costs—Continued Contracts awarded, value (36 States): Commercial buildings thous. of dolls.. Industrial buildings thous. of dolls.. Residential buildings .thous. of dolls... Educational buildings thous. of dolls.. Other public and semipublic buildings -thous. of dolls.. Public works and utilities._thous. of dolls.. Grand total thous. of dolls.. Contracts awarded, Canada thous. of dolls.. Building volume (A. G. C.) _rel. to 1913.. Fire losses: United States and Canada {Journal of Commerce) thous. of dolls.. Canada (Monetary Times)..thous. of dolls.. 48, 555 105, 932 549,152 47,135 222 22,327 1,778 ! LUMBER PRODUCTS Softwood Lumber Southern pine: 422,022 Production (computed) M ft. b. ni_. 438,708 I 439,773 419, 297 462, 571 468,965 403,807 97 99 Operation per cent of capacity.. 382, 751 361,403 Shipments (computed) M ft. b. m_. 446,696 442,920 395,239 470,837 461,327 New orders (computed) M ft. b. m . . 453,811 436,385 398,192 523,508 475,145 426, 558 402,162 Stocks,end of mo. (computed).*M ft. b . m_. 1,190,112 1,194,404 1,207,534 1,309,864 1,315,935 1,219,779 1,252,224 Unfilled orders,end mo.(comp.)M ft. b. m_. 346,715 305,164 287,741 385,054 396,667 324,423 299,314 43,550 52,930 66,332 Exports, lumber M ft. b. m_. 48,637 47,011 64,492 46,648 183 308 113 870 366 1,071 Exports, timber M ft. b. m_. 261 36.42 35.54 37.98 36.12 40.04 Price, flooring dolls, per M ft. b. m_. 35.26 40.81 Douglas fir: Production (computed) M ft. b. m_. 538,968 497,337 437,352 410,493 507,633 410,045 510,766 Shipments (computed) M ft. b. m.. 491,070 411,389 386,768 397, 571 479,879 411,836 New orders (computed) M ft. b. m_. 464,211 452,124 397,511 444,514 541,206 458,839 516,138 56,204 61,999 51,072 85,299 Exports, lumber M ft. b. m_. 45,346 48,025 53,944 15,498 47,711 Exports, timber M ft. b. m_. 46,492 2,280 44,226 26,449 22,994 15.48 Price, No. 1_common-dolls, per M ft. b. m_. 15.17 14.80 15.23 15.99 17.19 16.43 Price, flooring, 1 x 4, " B " and 35.08 34.04 35.92 35.47 34.50 34.04 better, V. G M ft. b . m_. 36.06 California redwood: 52,925 36,029 32,511 Production (computed) M ft. b. m_. 43,142 39,454 43,276 32,099 40, 578 26,882 37,061 42,676 30,201 38,700 35,851 Shipments (computed) M ft. b. m.. 41,376 23,398 40,121 36,492 38,763 37,299 New orders (computed) M ft. b . m.. 42,600 45,962 41, 518 60,007 45,430 44,948 42,795 Unfilled orders,end mo.(comp.)*M ft. b. m_. 67,440 California white pine: 92,762 72, 552 51,187 122,029 51,452 55,821 44,247 Production M ft. b . m_. 92,568 82,087 90,891 97, 412 75,706 73,874 Shipments M ft. b. m.. 123,538 624,651 667,618 609,181 623,671 566,957 591,017 560,748 Stocks, end of month M ft. b. m_. Western pine: 77,348 80,234 69,113 Production (computed) M ft. b . m_. 134,691 118,704 99,454 114, 579 117,193 Shipments (computed) M ft. b . m . . 153,019 124,083 1,069,835 1,036,454 Stocks, end of mo. (computed) _M ft. b . m_. 1, 069,825 1,068,630 1,039,389 North Carolina pine: 53,522 57,295 48,139 40,019 51,317 47,712 55,013 Production (computed) M ft. b . m.. 50, 813 47,845 47,054 57,967 56,133 37, 030 46,746 Shipments (computed) M ft. b. m_. Northern pine: Lumber41,148 32,815 24,300 33,550 34,514 32,493 35,127 Production M ft. b . m.. 39,175 32,857 33,603 24,680 29,451 35,413 30,557 Shipments. M ft. b . m_. 33,698 | 27,569 29,184 22,156 32,703 36,520 New orders M ft. b. m.. Lath— 9,034 I 6,144 4,472 7,315 7,251 7,338 5,726 Production thousands.. 5,377 7,941 I 3,994 5,609 7,795 5,300 6,261 Shipments... thousands.. Northern hemlock: 9,188 ' 11,026 13,949 11,425 19,811 21,854 Production M ft b . m.. 17,914 14,261 10,014 7,485 14,474 15,773 Shipments M ft. b . m.. +.8 -29.1 -57.9 +2.4 -65.8 -9.8 +23.7 +20.7 +21.8 -46.8 +4.9 +5.0 -1.2 -15.9 +92.3 -7.0 -7.2 0 -5.2 +9.7 +28.1 -3.8 +33.1 +4.4 -7.0 -28.7 64,610 72,912 82,721 82,730 68,901 76,062 +28.0 -5.5 -8.0 +0.5 +7.2 -6.9 +16.3 +31.9 +1.1 100,068 149,580 102,639 188,303 +2.6 +25.9 +28.2 +26.2 -6.7 -19.4 102,725 105,021 91,336 83,776 -11.1 -20.2 +2.9 +20.2 +11.7 -1.7 +5.4 +12.7 67,620 64,160 61, 577 68,064 64,864 69,228 -21.7 +5.8 -22.0 -28.0 14, 589 14,056 13,041 10,909 +.7 +1.1 +12.4 -10.6 -22.4 5,023 6,112 5,648 5,449 +12.4 -10.8 6,185 5,435 -12.1 I Hardwood Lumber Walnut lumber: Production.. . . M ft. b . m_. Shipments M ft. b . m_. Stocks, end of month M ft. b. m_. New orders . . M ft. b . m_. Unfilled orders, end of month..M ft. b . m_. Walnut logs: Purchased.. . - M ft. log measure.. Made into lumber and veneer M ft. log measure.. Stocks, end of month.._M ft. log measure.. Northern hardwoods: Production . . . M ft. b . m.. Shipments M ft. b . m.. Lower Michigan hardwoods: Production M ft. b . m.. Shipments M ft. b . m.. Stocks, end of m o n t h . . . M ft. b . m_. * See p. 22 of this issue for previous data. +1.4 +2.1 -2.0 -9.2 2,921 2,967 11,739 2,335 3,234 2,824 12,149 3,127 6,282 3,376 2,548 13,037 2,158 5,395 3,063 2,687 13,264 2,628 5,389 2,585 2,762 13,179 2,807 5,491 11,810 3,621 7,591 2,606 3,303 11,103 2,564 7,574 2,549 3,515 2,709 2,255 2,131 2,441 2,117 -5.5 +.7 4,558 4,386 -3.8 2,814 3,166 3,035 3,646 2,656 3,615 2,416 3,041 2,014 3,229 2,088 2,260 2,361 1,927 -16.6 -14.7 +67.6 4,449 4,430 -.4 15,488 27,623 15,469 24,556 20,707 19,269 37,543 24,164 38,053 25,178 40,162 28,472 5,388 7,348 33,532 5,124 6,344 21,350 4,996 5,895 30,902 7,934 8,147 30,821 9,135 8,024 40,804 7,546 37,409 2,417 -15.6 -16.4 +18.7 +9.5 +6.8 -27.5 5 +1.9 +6.2 35 TREND OF BUSINESS MOVEMENTS—Continued 1927 The cumukitives shown are through February. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" October November 1928 December PER CENT INCREASE ( + ) OR DECREASE (—) 1927 January February January February Feb., 1928, from Jan., 1928 Feb., 1928, from Feb., 1927 +12.1 +12.5 +13.4 +13.3 +15.9 +13.7 +32.8 +46.4 +34.2 +12.1 -33.6 -10.1 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 Per ct. increase (+) or decrease (-) cumulative 1928 from 1927 1927 1928 +7.1 +3.5 4,315,132 332,304 4,491,392 +3.5 9,142 9,577 +4.1 +19.8 +4.8 LUMBER PRODUCTS—Continued Hardwood Lumber—Continued All hardwoods: Total stocks, end of month— Total hardwoods _.M ft. b. m_. 873,696 889,772 930,398 Gum. M ft. b. m.. 237,395 241,868 263,649 Oak Mft. b. m.. 318,944 321,900 331,362 Unsold stocksTotal hardwoods... _M ft. b. m.. 697,288 705,678 740,914 Gum _ M ft. b. m... 180, 899 184,015 197,437 Oak M ft. b. m_. 259,794 259,053 272,082 Unfilled ordersTotal hardwoods M ft. b . m.. 204,701 214,616 225,388 68,494 70,282 83,126 Gum M ft. b. m.. 65,499 65,343 Oak. M ft. b. m_ 93, 000 87,000 75,000 Production (computed) M ft. b. m . 83,000 77,000 69,000 Shipments (computed) M ft. b . m_ 87, 000 79,000 76,000 New orders (computed) M ft. b. m_ Total Lumber Production, 10 species M ft. b. m_ 2,374,882 2,358,209 2,085,371 171,074 167,986 Exports, planks, joists, etc M ft. b. m . Retail yards, Minneapolis district: 16,247 12,554 4,742 Sales M ft. b. m_ 80,397 74,658 Stocks, end of month __M ft. b. m . 80,690 Composite lumber prices: 40.02 39.04 39.74 Hardwood dolls, per M ft. b. m_, 31.77 Softwoods dolls, per M ft. b. m_ 28.29 26.84 Flooring Maple flooring: Production.. M ft. b. m . Shipments M ft. b. m_ Stocks, end of month M ft. b. m_, New orders __M ft. b. m . Unfilled orders, end of month...M ft. b. m_ Oak flooring: Production _ M ft. b. m_ Shipments __ M ft. b. m . Stocks, end of month M ft. b. m . New orders M ft. b. m . Unfilled orders, end of month.._M ft. b. m . Wooden Furniture Grand Rapids district: Unfilled orders, end of month .No. of days'production. New orders No. of days' productionShipments No. of days' production. Outstanding accounts, end of month No. of days'sales.. Cancellations per cent of new ordersPlant operation per cent of full time. Piano benches and stools: New orders (av. per firm) dollarsUnfilled orders, end of month (av. per firm) dollars. ShipmentsValue (av. per firm) dollars. Quantity (total) .pieces. 1,021,295 1,145,176 297,464 334,702 408,852 360, 590 238,364 304,723 862,624 228,621 304,766 | 805,780 I 219,301 296,720 912,816 254,192 337,262 698,475 168,645 252,811 663,146 162, 053 242,949 256,464 100,560 69>392 281,196 103, 092 78,296 232,338 83,627 59,143 84,000 84,000 90,000 230,731 79,605 68, 816 84,000 94,000 100,000 32,117,162 32,374,230 2,098, 788 2,216,344 239,145 158,909 178,697 153,607 +37.6 +56.9 +38.8 +9.6 +21.9 +2.5 +29.5 +12.8 +13.8 3 5,042 3 88,976 4,535 94,155 4,762 90,307 40.42 27.37 40.47 27.50 41.11 29.74 41.08 21.76 -.2 +5.8 +.1 - 1 . 5 +.5 +26.4 7,519 9,842 7,880 29,034 6,587 6,224 8,085 29,710 6,405 6,847 +2.4 -15.4 -5.0 -14.8 +1.4 - 2 . 0 -5.5 +20.4 +9.6 +46.5 18,730 15,965 14,865 14,141 -20.6 -11.4 29,118 7,712 10,034 12,992 15,873 +22.2 +7.9 +8.9 +5.7 +15.2 +.6 +18.1 -32.9 - 7 . 6 -6.4 - 5 . 1 70,816 66,854 74,718 78,312 +5.5 +17.1 76,630 90,051 +17.5 131 177 247 -4.8 +88.5 -32.9 -39.4 -15.4 -21.2 +15.3 1,248,763 1,399,724 1,091,901 850,433 881,210 898, 571 -31.9 -37.0 -17.7 -6.1 1,049 703 3 4,380 s 94,357 10,558 8,124 26,837 7,493 8,202 8,073 7,238 27,610 6,233 7,843 7,820 6,797 29,527 8,736 7,346 7,252 28,721 8,161 9,154 38,540 38,349 67,244 35,716 22,764 33,389 30,998 69,449 31,425 24,080 32,113 29,266 74,773 34,715 27,887 35,947 38,080 82,239 53,888 45,925 38,771 40,232 82, 758 36,163 42,975 35,215 31, 929 70, 629 37,497 41,061 35,601 34, 925 70,090 39,133 45, 275 29 13 23 44 40 23 42 23 25 57 46 25 49 39 25 -4.5 -42.5 +8.7 -14.3 -41.0 0 13.0 99.0 55 32.0 99.0 55 7.0 54 13.0 94.0 52 6.0 55 14.0 100.0 -1.8 +85.7 -1.1 -1.8 -7.1 -6.0 12,291 7,784 Plywood and Veneer Plywood: 2,773 2,245 2,114 New orders thous. of sq. ft. of surface2,469 3,219 3,711 3,424 3,516 Shipments.. thous. of sq. ft. of surface.. 3,219 2,575 2,991 Unfilled orders, end of 3,502 month ...thous. of sq. ft. of surface.. 2,765 2,719 3,587 2,863 3,591 Rotary-cut veneer: 101 102 94 Receipts number of carloads.. 80 97 116 70 +21.3 79 Purchases number of carloads.. 132 115 59 72 -12.9 Barrel Headings Circled headings for wooden barrels: Production (rough). ..sets.. 480,438 753,053 585,774 353, 674 496,759 508,827 739,936 +40.5 Shipments (finished) sets.. 831,402 871,742 619,607 407,094 474,116 617,160 782, 564 +16.5 New orders (finished) .sets.. 746,657 226,918 698,474 456,145 442,426 568,835 523,066 -3.0 Unfilled orders, end of month sets.. 1,175,241 1,064,723 1,079,508 1, 037,375 1,428, 571 1,993, 216 1,812,076 +37.7 Stocks on hand, end of month sets.. 3,396,865 3,203,704 3,205,147 3,341, 371 3, 500,000 2,924,016 3,035,957 +4.7 +38.6 +59.7 41 24 30 58 11.0 100.0 14,395 5,331 12,935 17,401 4,883 1,803 12, 667 16,661 10,338 13,072 95.0 98.0 7,043 8,427 2,851 5,918 7,617 3,490 7,259 9,347 8,580 2,921 8,255 10,601 STONE, CLAY, AND GLASS PRODUCTS Clay Products Face brick, averages per plant: Production thousands.. Shipments _ thousands.. Stocks, end of month thousands.. Unfilled orders, end of month..thousands.. Common brick: Stocks, end of m o n t h Burned thousands.. Unburned thousands.. Shipments thousands.. Unfilled orders, end of month ..thousands.. Plants closed down number.. Price, red, New York dolls, per thous.. 3 Revised. 724 2,679 801 723 622 2,777 783 626 368 2,832 730 402 2,958 761 561,367 169,238 214,169 182,462 71 11.75 91,424 187,448 211,961 70 11.75 504,836 76,601 168,282 224,825 77 11.25 517,897 68,611 131,338 219,233 91 12.75 526 447 3,037 844 282 2,409 727 560 421 2,767 871 +9.1 +11.2 +2.7 +10.9 +6.2 +9.8 -3.1 13.50 462,565 58,331 93,806 324,837 68 17.00 487,217 62,455 115,013 335,223 78 17.00 +5.9 -20.6 1,008 849 +20.8 36 TREND OF BUSINESS MOVEMENTS—Continued 1938 1927 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" October TOTAL PER CENT IN- CUMULATIVE FROM JANUARY I CREASE ( + ) OR THROUGH FEBRUDECREASE (—) ARY 28 1927 Novem- Decem- January February January February ber ber Feb., 1928, from Jan., 1928 Feb., 1928, from Feb., 1927 Per ct. increase (+) or decrease (-) cumulative 1928 from 1927 1927 1928 346,069 547,507 731,727 +111.4 486, 789 - 1 1 . 1 STONE, CLAY, A N D GLASS PRODUCTS-Continued Clay Products—Continued Porcelain plumbing fixtures: Net new orders ._ pieces. Shipments _ piecesUnfilled orders, end of month .pieces. Stocks, finished glost, end mo pieces. Vitreous china plumbing fixtures: New orders _ pieces. Shipments pieces. Unfilled orders, end of month pieces. Stocks, end of month pieces. Floor and wall tile: Production thous. of sq. ft. Shipments, quantity thous. of sq. ft. Shipments, value thous. of dolls. Stocks, end of month thous. of sq. ft. Terra cotta, new orders: Quantity net tons. Value... thous. of dolls. Sand lime brick: Production thousandsShipments b y rail.. thousands. Shipments b y trucks thousands. Stocks, end of month thousands. Unfilled orders, end of month..thousands. 14,065 19, 582 29,455 29,044 29,998 6,024 12,242 21,925 33,353 227,896 245,725 307,240 500,868 3 167,993 3 180,498 3 294,73 i 3 527,920 3 227,351 3189, 502 3 332, 584 3 557, 293 5,877 5,242 1,975 11,991 5,018 4,321 1,638 12,687 4,511 3,641 1,550 13,175 11,907 1,049 11,134 1,008 9,898 836 10,850 949 18,928 5,134 13,623 14,423 15,318 18,086 6,558 11,833 13,468 14,845 13,912 4,189 17,174 18,105 13,141 5,960 1.683 14,939 16,251 13,953 13,239 22,639 33,552 3 237,829 3 240,931 3 329,482 3 544,461 245,858 577,522 538,965 281,896 497,700 558,121 145,081 +107.7 +240.2 265,611 +2.0 -7.4 377,170 +75.3 +53.1 544,631 -1.0 -l.o 5,514 4,331 1,648 10,010 5,129 4,351 1,658 11,032 10,284 1,040 | 9,851 1,138 18,538 14,772 312,789 3 4,945 3 7,024 3 15,867 314,830 10,921 3,738 6,204 16,920 12,625 i I 8,307 3,824 5,378 16,455 17,908 7,993 887 9,577 5,185 6,418 13,215 12,580 14,449 11,619 16,022 6,374 1.683 11,999 6,200 21,821 7,599 1.683 3 9,766 3 6,540 3 25,175 9,629 1.683 8,785 6,559 27,339 12,232 1.683 8,258 5,968 22,914 9,989 1.713 7,377 6,731 23,563 11,943 1.683 +.3 -2.6 +8.6 +16.0 +27.0 +2.4 9,800 5,527 7,984 5,102 6,542 4,657 5,902 4,103 7,464 5,615 4,236 2,656 4,391 2,336 +26.5 +70.0 +36.9 +140. 4 29,206 1,151 9,466 29,712 1,104 8,879 17,886 758 8,517 10, 728 458 8,480 8,209 340 8,267 8,115 508 9,839 5,385 491 9,599 -23.5 -25.8 -2.5 +52.4 -30.8 -13.9 13,500 999 19,438 18,937 ! +40.3 798 - 2 0 . 1 16,747 - 1 3 . 8 8,703 8,573 7,446 8,205 10,093 8,484 9,790 +23.0 +3.1 18,274 18,298 +.1 1,969 66.3 2,314 2,054 8,681 5,878 2,045 68.5 2,574 1,928 9,043 6,049 2,224 74.6 2,474 1,724 9,616 6,551 2,207 76.9 2,032 71.3 2,725 1,803 10,274 6,541 1,942 70.8 2,838 1,867 11,219 6,646 -5.5 -5.5 -3.8 +7.4 +2.7 3,974 4,292 +8.0 1,958 10,140 6,327 2,085 72.7 2,577 2,113 10,633 6,370 -9.2 +13.2 -5.2 -4.2 5,563 3,670 5,257 4,071 -5.5 +10.9 3,814 50.6 44.0 45.2 1.4 3.8 3,454 47.8 40.2 40.7 1.3 4.1 2,353 33.2 32.9 36.7 1.0 4.0 3 2,685 34.8 39.7 36.5 1.2 4.2 2,936 40.6 38.1 36.9 1.4 4.3 2,948 35.6 35.5 40.5 .6 3.7 2,620 37.2 48.2 40.7 1.1 3.6 +9.3 +12.1 +16.7 +9.1 -4.0 -21.0 +1.1 -9.3 +16.7 +27.3 5,568 5,621 +1.0 1,386 1,140 -17.7 -5.2 +28.7 17,844 2,025 21,134 1,989 +18.4 -1.8 -14.6 -24.4 -11.7 +6.6 +14.0 -27.9 -3.3 +28.0 17,884 9,009 11,796 23,710 8,683 13,228 +32.6 -3.6 +12.1 -10.0 +19.1 15,635 12,699 18,551 13,099 +18.7 +3.1 0 0 8,627 4,992 13,366 9,718 +54.9 +94.7 +9.6 +17.2 -14.9 +.4 Portland C e m e n t Production thous. of bbls. Shipments thous. of bbls. Stocks, end of m o n t h . . . . . . t h o u s . of bbls. Stocks, clinkers, end of month*..thous. of bbls. Wholesale price, composite dolls, p e r b b l . Highways Concrete pavements, new contracts: Total.. thous. of sq. y d s . Roads thous. of sq. y d s . Federal-aid highways: Completed— Cost thous. of dolls. Distance miles. Under construction, end of m o n t h . _miles. Plate Glass Production, polished thous. of sq. ft_ _ Glass Containers Actual production: Quantity. .thous. of gross.. Relation to capacity _ per cent.. New orders thous. of gross.. Shipments thous. of gross.. Unfilled orders, end of month..thous. of gross.. Stocks, end of m o n t h . . thous. of gross.. +7.9 +4.9 +.7 I l l u m i n a t i n g Glassware Production: Total. number of turns.. Ratio to capacity per ct. of capacity.. New orders per ct. of capacity.. Shipments .per ct. of capacity.. Unfilled orders, end m o . . n o . of weeks' supply.. Stocks, end of month no. of weeks' supply.. +2.4 I +19.4 CHEMICALS A N D OILS Chemicals Sulphuric acid: 519 867 541 417 560 580 474 Exports.. thous. of lbs.. +3.6 - 3 3 . 1 .75 .75 .78 .75 .76 Price, wholesale dolls, per 100lbs.. +4.0 .78 .78 Nitrate of soda: 47,240 33,578 +107.1 +331. 0 55,154 67,091 66,546 Imports long tons.. 69,867 144,716 Production in C h i l e 79,151 74,253 -2.6 +218. 6 Quantity metric tons.. 189,200 210,000 233,849 236,600 +1.6 +125.0 242,800 25 28 62 56 Units reporting number of plants.. 46 +6.7 +83.6 30,189 18,394 16,227 17,039 27,884 Potash, imports long tons.. 63 62 Superphosphate (acid phosphate): 33,774 •275,908 276,221 31,646 340,411 342,400 1 350,587 Production... ..short tons. 32,190,543 2,179,513 358,008 Stocks, end of month . . . s h o r t tons.. 1,580,756 1,806,877 1,995,954 3 78,712 3 79,885 2,196,707 Shipments short tons. Fertilizer: 53,924 75,260 109,447 74,955 67,678 80,319 101,540 -14.5 -32.6 Exports long tons. Consumption in Southern 111, 190 95,605 96,672 1,113,569 ' 526,771 157,858 +33.1 +84.6 States short tons. 87,632 Dyes and dyestuff, exports: 87,965 3 836,610 121,075 +15.5 227 +9.1 276 422 Vegetable ..thous. of lbs. 603,343 253 377 359 -3.5 2,222 Coal tar thous. of lbs. 2,848 1,865 2,951 +66.1 1,920 239 1,838 *1,715 See p . 21 of the March, 1928, issue for earlier data. • Revised. 80,818 153,404 "48,~583 214,583 +165. 5. 479,400 +212. 5 ~~65,~426~ +34:7 178,868 162, 587 1,363,381 1,716,912 +25. & 480 4,816 516 4,563 +7.5 -5. a -9.1 37 TREND OF BUSINESS MOVEMENTS—Continued 1927 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" PER CENT INCREASE ( + ) OR DECREASE (—) 1938 Feb., 1928, from Jan., 1928 Feb., 1928, from Feb., 1927 October November December 1,004 1,260 1,269 1,326 1,125 1,375 1,158 1,407 1,414 2,725 1,147 2,387 937 2,321 822 2,255 782 2,101 827 2,496 913 810 2,251 207 123 206 126 201 128 130 209 157 203 126 204 125 160 112 134 169 112 133 169 112 128 169 112 130 112 '122 155 114 128 155 113 137 0 0 -6.2 -.9 -10.9 14,181 1,200 12,667 1,046 -5.2 -1.6 +4.3 10,067 509 January February January February CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 Per ct. increase (+) or decrease (-) 1927 1938 cumulative 1928 from 1927 CHEMICALS A N D OILS—Continued Arsenic Crude: Production _ short tons_. Stocks, end of month short tons.. Refined: Production short tons.. Stocks, end of month short tons.. Price index numbers: Crude drugs rel. to Aug., 1914.. Essential oils rel. to Aug., 1914.. Drugs and pharmaceuticals rel. to Aug., 1914.. Chemicalsrel. to 1913-14.. Oils and fats.... rel. to 1913-14.. +.5 +2.5 +20.8 +25.6 +9.0 Wood Chemicals Acetate of lime: Production13, 519 3 12,802 3 12,396 11,757 13,912 United States . . . t h o u s . of l b s . . 1,105 1,091 1,186 1,109 1,091 Canada ..thous. oflbs.. Shipments— 13,611 3 12,344 3 11,038 United States thous. of l b s . . 16,959 395 1,462 Canada __thous. of l b s . . 507 3 831 Stocks, end of month— 19,656 United States . . . t h o u s . of lbs._ '16,409 3 16,133 3 16,110 3 17,316 2,462 3,459 Canada thous. of l b s . . 1,560 2,840 1,283 2,078 1,760 Exports. . . . t h o u s . of l b s . . 676 1,630 915 3.50 3.50 3.50 3.50 Price, wholesale dolls, p e r c w t . . 3.50 Methanol, crude: Production— United States gallons.. 643,491 662, 505 3 638,068 3 643,676 597,215 49,107 45,659 47, 750 48,179 47,234 Canada gallons.. Stocks at crude plants, end of m o n t h United States _. gallons.. 375,965 365,584 3 354,920 3 350,798 374,324 50,299 39,414 33,414 39,249 Canada ._ gallons.. 46,158 Stocks at refineries and in t r a n s i t United States _ gallons.. 1,181,225 1,407,745 1,165,544 1,126,152 1,132,377 43,458 55,298 31,987 56,104 27,995 Canada _ _ gallons.. 39,369 42,871 57,983 48,624 33,384 Exports .gallons.. Wood at chemical plants: Consumption64,460 United States cords. . 73,219 70,855 3 67,291 3 67,909 5,937 5,700 5,640 Canada ._ cords.. 5,121 5,858 Stocks, end of m o n t h United States. cords.. 595, 591 589,605 3 560, 500 3 555,768 556,735 75,124 74,942 71,695 74,734 Canada. .cords.. 74,440 Daily capacity— 3,329 3,323 Total ..cords.. 3,339 3,323 3,293 145 Shutdown cords.. 3 226 145 261 3 249 Methanol, refined: Production529, 552 470, 969 496, 073 390,099 United States gallons.. 38,600 41,000 44,850 Canada _ gallons.6,700 38,700 Stocks, end of month— 419,812 455,316 467, 723 United States ..gallons.. 396,137 452,246 32,854 3 34, 752 33,044 29,198 Canada gallons.. 26,443 Shipments— 3 626,643 506,310 482,666 407,351 United States.. gallons.. "",986 " 629 16,937 Canada gallons.. 17,775 .45 .48 .53 .48 Price, wholesale, N . Y ..dolls, per g a l . . .48 24,153 2,210 -10.0 -1.6 1,338 -7.2 +96.8 2,130 3,390 +59.2 1,486,056 96, 026 1,240,891 92,893 -16.5 -3.3 27,238 76,255 +180.0 149,205 11,402 132,369 11,499 -11.3 785, 927 72,360 886,172 83,550 +12.8 +15.5 +20.7 +17.9 -45.8 711,958 56,553 890,017 53,761 +25.0 -4.9 -7.2 26,848 2,246 10,184 171 -5.7 -13.0 -39.0 +196. 5 20,251 19,910 2,187 1,630 3.50 22,422 2,988 500 3.50 +13.5 -12.3 +21.8 +15.8 +8.0 +252. 0 0 0 805,473 49,885 680,583 46,141 -7.2 -3.3 -12.2 -1.3 397,999 48,446 340,847 45,984 +6.7 +17.6 +9.8 +.4 341,444 15,913 11,012 613,939 19,657 16,226 +.6 +84.4 - 1 . 4 +181. 3 +28.4 +164.2 80,233 68,972 5,306 -5.1 -3.7 -6.5 +6.3 500,818 34, 872 473,346 32, 539 +17.6 +129. 7 3,553 155 3,555 155 +.2 +.4 +.9 +4.8 480,448 35,290 305,479 37,070 -21.4 +16.0 +27.7 +21.0 436,656 58,596 426, 736 64,719 +2.7 +13.2 +9.6 -48.9 374, 530 26,037 .83 337,428 -15.6 30,516 +102. 5 -6.2 .83 +.9 -6.5 +68.4 Ethyl Alcohol Production thous. of gals.. Withdrawn for denaturization...thous. of gals.. Warehouse stocks, end of month .thous. of gals.. 16, 584 17,759 7,931 18,051 17,329 8,211 19,502 18,760 8,158 13,050 10,098 9,463 11,220 9,061 10,120 13,235 8,907 3,563 10,324 9,152 9,842 -14.0 -10.3 +8.7 -1.0 23,559 18,059 24,270 19,159 +3.0 +6.1 38,918 38,261 36, 747 17,807 34,695 34,645 32, 111 17,847 29,490 27,839 27,398 19,196 29,607 31,332 29,879 17,973 31,895 31,035 29,203 18,447 33,847 33, 726 33, 616 17,303 35,383 33,578 31,102 19,145 +7.7 -9.9 -7.6 -6.1 -3.6 69,230 67,304 64,718 61,502 62,367 59,082 -11.2 -7.3 -8.7 39,115 80,473 28,154 81,939 7,764 72,035 4,568 61,906 7,386 48,993 5,138 40,047 12,524 12,332 -1.5 .53 35, 795 77, 676 .51 .54 .60 .60 132,059 222,167 144,892 247,954 115,397 248,755 41,160 200,262 30,549 159,053 39,136 160,120 27,214 147, 635 66,350 71,709 +8.1 67,211 61,992 -7.8 +6.9 +2.8 Explosives (Black powder, permissible, and other high explosives) Production thous. of l b s . . Shipments thous. of lbs_. New orders thous. of lbs_. Stocks, end of month thous. of l b s . . -0.9 -2.3 +2.6 Naval Stores Turpentine (gum): Net receipts, southern ports barrels.. Stocks at ports, end of month barrels.. Price, southern, in barrels, New York _ dolls, per gal.. Rosin (gum): Net receipts, southern ports barrels.. Stocks at 3 ports, end of month barrelsPrice, common to good (B), New York dolls, per bbl_. Rosin (wood): Production barrels.. Stocks, end of month barrels.. 8 Revised. 9.24 35,963 I 82,717 ! —41.2 | - 1 1 . 1 - 1 4 . 1 j +54.6 -20.0 .75 8.55 8.70 9.54 8.94 12.38 11.71 35,187 87,179 28,483 85,553 29,200 85,413 32,792 90,429 35,168 33,513 32,043 45,124 -25.8 -20. 6 +12.3 +7. 7 -6.3 -23.7 +12.3 +2.3 +5.9 +100.4 38 TREND OF BUSINESS MOVEMENTS—Continued 1928 1927 The cumulative8 shown are through February. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" PER CENT INCREASE ( + ) OR DECREASE (—) 1927 ct CUMULATIVE TOTAL Per inFROM JANUARY 1 crease THROUGH FEBRUARY 28 or de- crease October November Decem- January ber February 5,291 12,869 5,771 10,631 5,645 10,477 7,053 5,531 6,587 7,314 192,141 588, 571 198, 646 605, 771 237,953 641,354 241,563 305,151 207,197 313,457 25,853 3,118 21,743 19,098 3,558 19,266 3,628 19,669 4,045 3,386 1,587 1,405 1,691 8,481 60,010 29, 582 9,405 59,870 26,872 49,811 5,178 6,967 51,953 19,681 29,339 32, 751 22,271 13,549 13,191 14, 009 27,461 26, 717 6,100 26,205 27, 729 27,624 26,327 483,281 605,206 992,049 January February Feb., 1928, from Jan., Feb., 1928, from Feb., 1927 -2.2 -1.4 -14.3 1927 1928 cumulative 1928 from 1927 CHEMICALS AND OILS-Continued Naval Stores—Continued Turpentine (wood): 6,820 6,901 Production barrels.. 13,385 Stocks, end of month barrels.. 12,163 Pine oil: Production gallons.. 237,625 235,695 Stocks, end of month gallons.. 588,778 561,363 Roofing Roofing felt: 25,680 Production, dry felt tons.. 27, 512 3,810 3,748 Stocks, end of month, dry felt ...tons.. Prepared roofing: 3,280 3,218 Shipments thous. of roof squares.. Fats and Oils Total vegetable oils and copra: Exports thous. of lbs.. 6,484 5,307 Imports thous. of lbs.. 55,387 68,589 23,422 Copra, imports short tons.. 15,660 Copra or coconut oil: 30,095 Imports thous. of lbs.. 22, 702 C onsumption in oleomargarine ..thous. of lbs.. 12,286 12,373 Oleomargarine: Production. - -thous. of lbs.. 26,041 25,913 Consumption thous. of lbs.. 26,823 26,256 Animal glues, shipments thous. of lbs.. 7,113 6,061 Cottonseed Cottonseed: 848,706 1,282,625 Receipts at mills short tons.. 876,630 782,681 Consumption (crush) short tons.. 1,050,949 1,113,974 Stocks at mills, end of month..short tons.. 272,547 Cottonseed oil, crude: 247,523 Production thous. of lbs.. 146,567 165,069 Stocks, end of month thous. of lbs.. Cottonseed oil, refined: 194,676 Production thous. of lbs.. 310,330 415,833 Stocks, end of month thous. of lbs.. Price, yellow, prime, .106 .109 New York dolls, per lb_. Consumption in 2,260 2,228 oleomargarine thous. of lbs.. Cottonseed cake and meal: 344,591 391,037 Production short tons.. 186,997 205,008 Stocks, end of month,. short tons.. 53, 834 63,790 Exports short tons.. Flaxseed Minneapolis and Duluth: Receipts... thous. of bushs.. 4,088 8,230 3,241 Shipments thous. of bushs.. 2,008 4,671 5,246 Stocks, end of month thous. of bushs.. 1,491 1,758 Imports thous. of bushs.. Linseed oil: 9,253 13,202 Shipments from Minneapolis.thous. of lbs_. .099 .099 Price, New York dolls, per lb_. Linseed cake and meal: 34,857 Shipments from Minneapolis.thous. of lbs.. 31,492 48,625 58, 522 Exports _. thous. of lbs.. FOODSTUFFS Wheat Visible supply, end of month: United States thous. of bushs.. 94,607 96,468 Canada thous. of bushs.. 62,492 121,009 Receipts, principal markets..-thous. of bushs.. 73,244 44,823 Shipments, principal markets.thous. of bushs.. 49,252 35,156 Exports: United StatesWheat only thous. of bushs.. 29,236 20, 731 Including wheatflour.thous. of bushs.. 36,045 CanadaWheat only thous. of bushs.. 52,805 19,430 Including wheatflour.thous. of bushs.. 23,475 57,976 Prices: No. 2, red winter, Chicago.dolls. per bush.. 1.35 1.34 No. 1, northern spring, cash Minneapolis dolls, per bush.. 1.264 1.275 Wheat Flour Grindings of wheat: United States (census) thous. of bushs.. Canada thous. of bushs.. Production: United States, actual (census) thous. of bbls.. United States, prorated (Russell) thous. of bbls.. Canada thous. of bbls., *Re vised. 44,882 9,656 13,640 11,416 -16.3 448,760 436,599 -2.7 -12.2 +15.2 -2.9 -12.0 38,935 40,841 +4.9 8,435 38,212 12,520 -5.0 -16.8 -80.7 +6.0 +30.4 -58.6 15,402 90,165 32,201 18,344 109,681 32,050 31,588 16,153 -32.0 55,022 3 9,680 19, 517 27,200 22,748 21,859 6,731 22,345 20,356 6,724 +37.9 +6.2 +44.7 +5.4 +23.6 - 5 . 1 +29.3 47,741 9,837 45,093 42,215 53,829 54,056 +19.1 +21.6 -.5 +15.3 +39.4 +19.4 +28.1 339,212 570,408 763,353 177,229 581,856 450,627 849,721, 489,955 1,035,766 473,340 686,786 818,715 -47.8 -21.0 -35.8 -62.6 -34.4 -40.2 1,055,196 1,536,507 516,441 1,021,035 -51.1 -33.5 192,057 157, 578 181,022 168, 519 144,658 159,302 250,386 175,190 205,051 155,430 -20.1 -5.5 455,437 325,680 -28.5 176,051 502,901 143, 378 538,257 138,231 566,832 205,929 395,022 201,217 460,491 -29.5 +2.5 -31.3 +5.3 +23.1 +2.2 -7.9 407,146 281,609 -30.8 .100 .101 .093 .085 .091 2,154 2,162 2,114 2,013 2,006 268,757 190,354 43,327 259,275 177,118 53,249 202,264 170,827 27,671 377,425 147,144 81,099 310,075 152,147 61,775 -22.0 -3.6 -48.0 -34.8 +12.3 -55.2 687,500 461,539 -32.9 "1427874 80,920 -43.4 1,079 2,035 3,997 1,029 925 576 3,212 1,181 457 2,668 1,264 787 540 2,372 2,237 515 418 2,073 1,327 -28.6 -20.7 -16.9 +28.2 +9.3 1,302 958 1,585 1,033 +21.7 +7.8 8,878 .096 13,023 .098 12,917 .098 .105 8,301 .104 -31.4 +44.4 22,581 53,999 27,056 44,367 28,540 53,532 20,682 61,103 18,488 54,322 +55.6 -5.8 +5.5 +54.4 +20.7 -1.5 90,506 147,506 26,522 19,440 82,368 152,560 23,542 14, 284 74,260 152,760 22,538 12, 771 59,731 116,613 24,595 13, 757 58,454 115,350 20,952 10,413 -4.3 -10.6 6,917 11,986 5,956 11,560 2,276 6,538 8,078 12,619 4,889 8,822 -61.8 -43.4 44,809 49,114 15,201 18,647 18,372 21,828 12,571 16,054 11,422 14,788 1.38 1.43 1.54 1.37 1.275 1.293 1.263 1.413 1.37 1.403 49,792 9,138 +43.2 +19.8 +14.8 +5.9 +104. 6 4,019 +7.0 3? 3,564 2,445 17,961 25,940 39,170 115,425 55,596 97,899 +41.9 +7.6 +22.6 45,547 24,170 46,079 27,055 +1.2 +11.9 -53.4 -25.9 12,967 21,441 8,232 18,098 +20.9 +60.8 +47.6 +17.1 +12.4 +7.7 -10.0 23,993 30,842 33, 573 40,475 -36.5 -15.6 +39.9 +31.2 -15.2 +27.0 +0.1 +32.4 -2.3 42,604 8,115 3 42,415 7, 246 40,908 6,737 39,354 6,819 36, 569 5,615 -3.6 -7.0 +11.9 +20.0 75,923 12,434 83,323 13,983 +9.7 +12.5 8,823 8,624 8,023 -3.4 +10.0 16, 647 17,955 +7.9 "1*464 9,676 1,496 8,996 1,231 -7.0 +18.9 2,727 3,043 +11.6 10,817 9,735 9,235 3 9,132 12, 540 2,005 11,337 2,120 10,877 1,677 10, 502 1,579 39 TREND OF BUSINESS MOVEMENTS—Continued 1928 1927 The cumulative* shown are through February. Earlier data for items shown here map be found on pages 24 to 138 of the February, 1928, "Survey" October November thous. of lbs.. 3 866,428 63 per cent.. thous. of bbls.. 782,841 59 11,111 December PER CENT INCREASE ( + ) OR DECREASE (—) 1927 January February January February CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 Per ct. increase or decrease Feb., 1928, from Jan., 1928 Feb., 1928, from Feb., 1927 1927 1928 -2.8 +15.9 +3.8 1,300,317 1,467,283 +12.8 +8.4 +2.7 1,883 1,522 2,292 1,534 +21.7 +.8 5,758 +42.5 cumulative 1928 from 1927 FOODSTUFFS—Continued Wheat Flour—Continued Production, grain offal Capacity operated, flour mills Consumption (computed) Stocks, all positions, end of month (computed) Exports: United States Canada Standard patents, Minneapolis Winter straights, Kansas City 745,242 »744,227 53 55 10,451 8,207 723,056 55 676,292 53 7,867 624,025 53 8,572 11,617 thous. of bbls.. thous. of bbls.. thous. of bbls.. 6,800 6,100 7,150 7,500 7,080 1,126 957 1,245 766 947 1,009 774 874 748 -23.9 1,513 1,326 1,149 7,900 +.3 dolls, per b b l . . 7.23 7.15 7.10 7.45 7.37 7.46 7.42 -1.1 -.7 dolls, p e r b b l . . 6.54 6.58 6.56 6.70 6.66 6.55 6.54 -.6 +1.8 thous. of bushs.. Exports, including meal thous. of bushs.. Visible supply, end month Receipts, principal markets... thous. of bushs.. thous. of bushs.. Shipments, prin. markets .thous. of bushs.. Grindings (starch, glucose) Prices, contract grades, No. 2, .dolls, per bush.. Chicago 538 21,847 18,448 9,665 «8,612 861 20,439 16,971 10, 256 8,064 1,206 28,390 37,088 16,064 6,301 1,661 30,078 36,001 19,551 8,330 4,097 43,582 44,126 22,705 8,339 .87 .87 13,914 25,182 11,961 24,429 672 10,733 22,982 724 10,495 21,519 .50 1,027 .51 1,110 .55 1,202 11,650 13,565 10,908 4,398 6,927 7,654 4,338 6,490 .82 .84 7,496 1,595 6,425 1.00 4,619 2,412 2,889 1.06 3,275 1,309 1.09 1,477 3,656 519 1.09 50,826 37,608 18,650 16,279 Corn 2,017 40,616 27,638 10,638 * 6,618 2,023 +146. 7 +102.5 47,792 +44.9 -8.8 24,667 +22.6 +789 8,500 +16.1 +165.1 » 6,510 +.1 +28.1 .95 .77 .76 11,667 20,634 499 14,377 46,890 614 10,053 44,625 321 .56 1,040 .58 822 .50 791 14,734 12,461 9,360 8,890 4,199 2,707 3,425 6,401 2,359 1,701 4,457 2,206 879 4,040 52,305 19,138 13,128 80,127 +53.2 42,256 +120.9 16,669 +27.0 24,430 22,162 -9.3 ""'935' 1,337 +43.0 +25.5 +31.4 +6.7 +25.0 Oats Receipts, principal markets..-thous. of bushs.. Visible supply, end of month-.thous. of bushs.. Exports, including meal thous. of bushs.. Prices, contract grades, Chicago dolls, per bush.. Grindings, Canada thous. of bushs.. Production, oatmeal and rolled oats, Canada thous. of lbs.. +11.2 -4.1 -40.5 +16.0 -53.8 +55.5 +3.6 -21.0 +20.8 +18.6 1,484 1,862 7,711 -24.9 +21.4 16,601 21,821 2,663 4,180 1,006 2,347 3,790 1,257 -30.4 -6.5 -48.3 +89.9 -41.8 -30.4 "~2,~263" 2,580 +14.0 .74 .78 1,333 4,078 458 1.12 1,281 12,591 804 1.02 2,156 13,655 591 1.05 -9.7 +11.5 -11.8 +2.8 -38.2 -70.1 -22.5 3,437 2,810 -18.2 ~1~395 977 -30.0 12,471 17,060 13,014 -23.4 -4.2 30, 074 28,750 -4.4 +42.1 +26.9 426,395 383,255 -31.4 +11.5 -36.7 -16.6 877,780 127,380 791,506 111,564 -9.8 -12.4 Barley Receipts, principal markets...thous. of bushs.. Visible supply, end mo thous. of bushs.. Exports thous. of bushs.. Price, fair to good, malting, Chicago dolls, per bush.. 5,010 10,858 +116.7 +3.2 +23.1 Rye Receipts, principal markets... thous. of bushs.. Visible supply, end mo thous. of bushs.. Exports, including flour thous. of bushs.. Price, No. 2, Chicago dolls, per bush.. +6.7 Total Grains Total grain exports, incl. flour.thous. of bushs.. Rice 1,266,278 831,033 853,581 Southern paddy, receipts at mills bbls.. 1,719,740 Shipments: 1,200,174 1,162,603 1,006,759 1,118,120 Total from mills ..pockets (100 lbs. 239,453 232,725 234,740 158,323 New Orleans pockets (100 lbs. 2,247,038 2,409,940 2,290,857 2,106,310 Stocks, end of month pockets (100 lbs. 160,871 267,294 469,435 203,350 Exports pockets (100 lbs. 52,744 54,723 22,808 21,888 Imports pockets (100 lbs. Other Crops Apples: Cold-storage holdings, end of month -thous. of bbls. 5,307 6,845 5,992 7,831 Car-lot shipments ..carloads. 5,305 5,881 31,612 16,607 Potatoes, car-lot shipments carloads. 13,206 19,665 37,410 20,318 Onions, car-lot shipments carloads. 2,234 3,114 5,754 2,924 Citrus fruit, car-lot shipments carloads. 12,123 9,057 5,618 7,487 Hay, all tame, receipts tons. 51,806 55,161 63,009 817,939 1,120,252 877,798 249,175 177,220 224,932 2,095,911 1,957,608 322,071 508,885 58,820 70,562 56,818 3,704 4,913 22,258 2,470 8,735 62,673 7,335 7,827 17,408 2,797 11,725 5,114 7,883 17,314 2,018 10,855 56,938 -30.2 -7.4 +13.2 -20.7 -3.6 -.5 -27.6 -37.7 +28.6 +22.4 -19.5 +10.1 15,710 34,722 4,815 22,580 135,026 10,218 41,923 5,584 17, 792 125, 682 -34.0 +20.7 +16.0 -21.2 -6.9 1,771 660 234 1,080 1,516 552 194 961 1,832 657 205 1,136 1,555 537 175 1,012 -14.4 -16.4 -17.1 -11.0 -2.5 +2.8 +11.0 -5.0 3,387 1,194 380 2,148 3,287 1,212 428 2,041 -3.0 +1.5 +12.6 403,660 387,750 394,808 »393,945 974 1,097 370,385 379,507 935 443,918 448,614 1,975 401,482 407,852 1,748 -4.5 -3.7 -4.0 -7.7 -6.9 -46.5 845,400 856,466 3,723 758,135 773,452 1,909 -10.3 -9.7 -48.7 Cattle and beef Cattle movements, primary markets: Receipts .—thousands. Shipments, total thousandsShipments, stocker and feeder, .thousands. Local slaughter thousands. Beef products: Production, inspected thous. of lbs. Apparent consumption thous. of lbs. Exports.. thous. of lbs. Cold-storage holdings, end of month thous. of lbs Prices: Cattle, corn-fed, Chicago.dolls. per 100 lbs. Steer rounds No. 2 dolls, per l b . Western dressed native steers, New York.. dolls, per l b . * Revised. 2,635 1,259 675 1,291 2,346 1,156 615 1,240 475,455 474,078 1,165 459,364 443,800 1,085 43,916 65,345 76,947 3 71,651 63,703 95,254 88,020 -11.1 -27.6 14.33 .190 15.94 .190 15.50 .196 15.80 .220 14.78 .200 10.30 .145 11.06 .150 -6.5 -9.1 +33.6 +33.3 .225 .234 .238 .230 .230 .178 729 319 980 +31.4 -5.0 40 TREND OF BUSINESS MOVEMENTS—Continued November December 3,039 1,137 78 1,883 3,666 1,284 113 2,382 4,209 1,485 95 2,745 497,128 615,065 596,842 603, 579 67, 764 793, 789 594,140 87,955 465,976 578,280 October 1927 1923 1927 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" PER CENT INCREASE ( + ) OR DECREASE (—) January F bruary January February CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 Per ct. increase (+) or decrease (-) Feb., 1928, from Jan., 1928 Feb., 1928, from Feb., 1927 -.7 -2.1 -2.6 +59.2 +37.6 -20.2 +72.3 7,560 2,842 193 4,700 10, 573 3,659 152 6,900 +39.9 +28.4 +67.2 +44.2 +47.4 1,392,213 1,010,457 159,284 1,953,015 1,318,818 208,074 +40.3 +30.5 +30.6 109,726 150, 532 +37.2 -3.6 -36.7 +10.8 1927 1928 cumulative 1928 from 1927 FOODSTUFFS—Continued Hogs and Pork i Hog movements, primary markets: Receipts thousands Shipments, total . -thousands Shipments, stocker and feeder _ .thousands Local slaughter thousands Pork products, total: Production, inspected thous. of lbs. Apparent consumption thous. of lbs. Exports _.thous. of lbs Cold-storage holdings, total, end of month thous. of lbs. Fresh and cured in storage, end of month thous. of lbs. LardKincluded in pork products): Production.. thous. of lbs. Exports thous. of lbs. Cold-storage holdings, end of month thous. of lbs. Prices: Hogs, heavy, Chicago dolls, per 100 lbs. Hams, smoked, Chicago dolls, per lb. Lard, prime contract, N. Y..dolls, per lb. 72,251 539,240 5,306 1,849 77 3,443 5,267 1,810 75 3,457 4,252 1,527 99 2,694 3,308 1,315 94 2,006 935,467 1,017, 548 643,150 3 675,668 109,280 98, 794 1,005,094 3 739,645 883, 740 a 655, 638 190, 557 79,872 70, 660 783, 758 564,328 85,134 608.455 446; 129 419,822 523,425 110, 525 49, 636 155,157 62,855 46,154 54,855 3 84,007 11.06 .233 .130 9.47 .220 .125 8.58 .214 .120 3,587 2,413 1,560 1,148 1,896 988 497 950 46,188 45,855 -4.8 74,150 +10.6 748,777 +35.9 658, 647 589,071 154, 592 59,842 671, 674 119,715 49,884 121,354 69, 576 77,103 8.32 .212 .124 8.03 .210 .116 11.97 .269 .129 11.64 .273 .128 1,609 723 174 896 1,705 705 116 994 1,667 729 101 945 1,740 819 207 921 1,496 669 136 42, 354 41,877 44, 660 44, 246 47,081 3 47,055 44, 057 44,438 44,161 44,292 40, 510 40, 943 2,958 3,790 4,408 3 4, 404 4,010 4,447 5.25 13.87 5.47 13.58 5.63 13.01 6.05 12.65 8.16 15.13 6.41 12.47 49, 235 52,227 61,420 3 64, 219 71,489 61,791 59, 230 467,119 92,860 50,355 72,121 +.4 +8.8 -21.2 +46.8 +34.2 +31.6 +34.8 +13.0 +60.1 +44. 5 +57. 4 -3.5 -.9 -6.5 -31.0 -23.1 -9.4 -2.2 —12.9 -4.9 +3.4 +11.4 +9.0 -25.7 +14.0 3,236 1,488 343 1,750 3,372 1,434 217 1,939 -6.4 -5.6 +8.8 +8.5 84, 671 85,235 91,138 91,493 4,074 -8.9 7.78 13.24 +34.9 +19.6 -1.6 +4.9 +14.2 Sheep and L a m b Sheep movement, primary market: Receipts _ thousands. Shipments, total. thousands. Shipments, stocker and feeder..thousands. Local slaughter... thousands. Lamb and mutton: Production, inspected thous. of lbs. Apparent consumption thous. of lbs. Cold-storage holdings, end of month thous. of lbs. Prices: Sheep, ewes, Chicago dolls, per 100 lbs Sheep, lambs, Chicago...dolls, per 100 lbs. +4.2 +7.6 +7.3 Miscellaneous Meats Cold-storage holdings, end mo---thous. of lbs. Total Meats 1,018,772 1,098, 559 1,242,109 1,370,298 1,431,989 1,271,850 1,050,446 Production, inspected thous. of lbs 721, 055 3 879,919 1,144, 296 635,349 587,338 820,139 900,101 Cold-storage holdings, end mo.--thous. of lbs. 1,134,997 1,089, 256 1,033,194 31,116,668 1,067,095 1,057,234 894,924 Apparent consumption.. thous. of lbs. +11.3 +20.7 +4. 5 +30. 0 -4. 4 +36. 3 +27.1 +19. 2 2,322, 296 2,802,287 +20.7 1,952,158 2,185,477 +12.0 46,653 50,204 +7.6 37,489 33,160 ! - 1 1 . 5 PoultryReceipts at 5 markets thous. of lbs. Cold-storage holdings, end of month thous. of lbs. Fish Total catch, prin. fishing ports..-thous. of lbs Cold-storage holdings, 15th of month . thous. of lbs Canned salmon: Shipments, United States cases. Exports, Canada cases 29,103 61, 370 29,347 20,857 27, 704 18,949 -28.9 +10.1 52,315 85,030 117,490 I 3 118,154 103,550 144,076 129,510 -12.4 -20.0 70,350 27, 385 21,096 3 14,051 14,300 18,860 18,140 19,349 +31.9 -2.5 65,960 66,790 64,787 3 53,921 44,515 58,655 48,684 -17.4 -8.6 791,856 120,446 377,951 209,358 349,112 254,394 95,921 168,946 79,760 482,140 106,146 490,107 66,467 -52.8 +20.0 172,613 248,706 +44.1 thous. of lbs thous. of lbs. 149, 785 38,301 86,238 33, 607 88,164 103,861 33,687 42,271 96, 768 41,140 93,912 37,705 91,574 38,375 -6.8 -2.7 +5.7 +7.2 185,486 76,080 200,629 83,411 +8.2 +9.6 thous. of lbs. thous. of lbs. dolls, per lb. 118,679 178,353 159,106 .50 46,289 163,244 .52 28, 273 159, 687 .49 14,410 143,844 .47 17,952 145,906 .50 7,952 135,997 .52 -49.0 -9.9 -4.1 +81.2 +5.8 281,903 303, 531 +7.7 32,862 18,995 48,793 20,511 14,279 36,022 21,186 13,826 35,335 24,033 14,409 37,408 24,033 13,716 36,618 26,250 12,706 36, 616 26,609 14,916 36,145 0 -4.8 -2.1 +1.3 -9.7 -8.0 52,859 27,622 72, 761 48,066 28,125 74, 026 -9.1 +1.8 +1.7 77,603 8,441 211 70,735 8,976 321 16,072 64,035 7,474 211 8,878 55,862 5,347 257 1,324 48,795 5,303 208 1,148 62,136 5,608 356 3,209 54,072 4,788 370 3,404 12.7 -.8 19.4 13.3 +10.8 -43.8 -66.3 10,39P 726 6,613 10,650 465 2,472 -36.0 -62.6 53,447 .27 47,765 .29 » 41,793 .29 36,719 .24 46,026 39,382 .26 -12.1 -17.2 -6.8 -7.7 Butter Production (factory) Receipts, 5 markets Cold-storage holdings, creamery, end of month Apparent consumption Wholesale price, New York Cheese Total, all varieties: Production (factory) thous. of lbs. Receipts, 5 markets. thous. of lbs Apparent consumption thous. of lbs. Cold-storage holdings, end of month thous. of lbs. Imports _ thous. of lbs Exports, United States thous. of lbs Exports, Canada thous. of lbs American whole milk: Cold-storage holdings, end of month _ thous. of lbs Wholesale price, New York..dolls, per lb s Revised. 20,944 59, 035 -9.6 +2.4 41 TREND OF BUSINESS MOVEMENTS—Continued 1938 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" October November December PER CENT INCREASE ( + ) OR DECREASE (—) 1927 January February January February Feb., 1928, from Jan., 1928 Feb., 1928, from Feb., 1927 +53.1 +12.2 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY^ 1997 1928 Per ct. increase or decrease cumulative 1928 from 1927 FOODSTUFFS-Continued Eggs Receipts, 5 markets __.thous. of cases.. Cold-storage holdings, end of month: Case thous. of cases.. Frozen thous. of lbs. 704 603 862 1,320 970 5,485 62,066 2,956 54,703 47,020 3 26 » 38,575 65 31,355 253 31,207 92 +150. 0 -29.3 26,053 -18.7 +20.4 35,932 14,956 29,155 12, 362 24,820 3 8,310 20,521 8,457 17,912 7,485 16, 594 8,303 12,418 7,782 -13.1 -11.5 +44.2 -3.8 30,535 5,970 2,760 6.00 24,919 5,521 2,981 6.02 19,048 »4, 656 2,345 6.00 15,151 5,216 3,819 6.00 12, 534 5,081 2,645 5.98 11,296 3,388 2,694 5.63 7,054 3,619 2,853 5.72 -17.3 -2.6 -30.7 -.3 +77.7 +40.4 -7.3 +4.5 205, 587 166,187 140,133 118,444 93,458 54,888 49,940 -21.1 +87.1 183,239 5,130 4.58 149,397 4,662 4.59 117,115 4,532 4.57 95,120 7,360 4.58 65,470 7,531 4.46 19,084 5,554 4.50 10,150 4,331 4.50 -31.2 +545.0 +2.3 +73.9 -2.6 112,651 131,323 117,012 119,142 1,176 2,146 2,182 +1.7 5,547 6,464 +16.5 9,885 14,891 +50.6 +10.2 236,154 234,170 -.8 +5.6 +31.2 +39.0 +29.1 -12.3 +1.5 522 7,782 564 9,159 +8.0 +17.7 Milk Condensed milk: Manufacturers' total stocks (end of month)— Case goods. _ thous. of lbs.. Bulk goods .thous. of lbs.. Manufacturers' unsold stocks (end of month)— Case goods thous. of lbs.. Bulk goods thous. of lbs_. Exports thous. of lbs.. Wholesale price, New York.dolls. per case.. Evaporated milk: Manufacturers' total stocks, end of month (case goods) thous. of lbs.. Manufacturers' unsold stocks, case goods thous. of lbs.. Exports thous. of lbs.. Wholesale price, New York, dolls, per case.. Production, condensed and evaporated milk thous. of lbs.. Powdered milk: Manufacturers' total stocks..thous. of lbs.. Exports _ thous. of lbs.. Net new orders thous. of lbs.. Fluid milk: ReceiptsBoston (includ. cream) __thous. of qts. Greater New York thous. of qts. ProductionMinneapolis, St. Paul thous. of lbs. Consumption in manufacture of oleomargarine thous. of lbs. 99, 393 99,465 102,847 9,261 307 5,735 7,950 298 5,706 5,723 336 5,555 8,334 236 4,880 8,802 328 4,279 9,638 268 3,568 6,710 254 4,214 17,987 114,981 16,624 108,536 17,376 108,272 17,490 109,709 104,413 17,002 106,156 15,522 99,019 20,217 19,868 22,627 26,140 25,468 24,623 7,332 7,034 7,363 7,190 8,117 6,287 6,262 76,540 319,464 375,748 254,963 24,340 223,855 295,922 215,665 20,058 201,139 243,364 205,573 45,026 219,926 307,050 192,968 130,034 344,459 310,612 333,493 70,187 163,973 290, 613 177,791 +27.7 -4.8 +5.4 205,175 214,122 +4.4 +12.9 +28.0 12,549 15,307 +22.0 142,800 +188.8 366,551 +56.6 +1.2 362,841 300,858 +72.8 -8.9 -6.0 -14.4 +10.8 212,987 530, 524 653,454 175,060 564,385 617, 662 -17.8 +6.4 -5.5 12,301 12,026 "—272 1,288,020 563,110 1,136, 744 -11.7 -4.3 Sugar Raw: Imports— From Hawaii and Porto Rico long tons.. From foreign countries long tons.. Meltings, 8 ports long tons.. Stocks at refineries, end month..long tons.. Receipts, domestic, at New Orleans long tons.. Refined: Shipments, 2 ports * long tons.. Stocks, 2 ports * long tons.. Exports, including maple long tons.. Prices: Wholesale, 96° centrifugal, N. Y dolls, perlb.. Wholesale, granulated, N. Y_dolls. per lb_. Retail, granulated, N. Y dolls, per lb_. Retail average, 51 cities...relative to 1913.. Cuban movement (raw): Receipts at Cuban ports long tons.. Exports -long tons.. Stocks, end of month long tons.. None. 5,727 10,204 None. None. 1,404 54,010 35,128 3,642 44,663 30,665 4,480 45,340 30,387 3,651 40,958 29,542 3,184 47,631 20,283 8,842 46,095 24,638 5,760 .047 .057 .064 131 .047 .056 .063 131 .046 .056 .062 129 .045 .057 .063 129 .043 .056 .063 129 .051 .062 .068 136 151,747 304,118 531,142 106,974 261,815 344,693 86,425 I 238,129 212,161 177,801 898,615 326,705 851,113 482,152 166,044 298,682 244,852 I 212,314 123 -100.0 60,724 +16.3 30,491 -31.3 6,541 +177.7 +35.2 -4.4 -1.8 0 0 -12.2 -6.7 -7.4 -5.1 .049 .060 .068 136 -21.6 -33.5 805,868 +277.4 +11.5 397,066 +54.0 -17.7 702,733 +378. 7 +21.1 106,819 -17.1 Coffee 2,172 976 1,859 1,099 952 1,144 1,148 Imports _ thous. of bags.. 1,024 -10.8 907 +7.6 Visible supply: t -1.4 4,917 +9.3 4,385 World thous. of bags.. 5,041 4,862 5,050 4,792 4,605 +6.5 634 903 686 768 United States thous. of bags.. 782 833 1,014 -7.8 -16.0 1,838 1,052 1,714 1,372 2,270 1,022 Receipts, total, Brazil t thous. of bags.. 1,216 1,218 -2.9 Clearances: t 2,217 -20.8 2,188 1,583 1,441 +3.5 947 1,510 1,237 Total, Brazil, for world thous. of bags.. 1,241 -26.2 1,194 862 +13.4 1,113 813 876 447 687 Total, Brazil, for U. S thous. of bags.. 507 Price, Rio No. 7, Brazil grades +6.1 .147 +5.4 .145 .142 I .149 N. Y ....dolls, per lb._ .148 .153 .157 Tea -25.4 14, 247 9,687 14,461 10,547 +9.0 5,585 8,160 Imports ...thous. of lbs.. 9,057 6,087 8,876 Stocks, United Kingdom, end of . 9 3 211,833 +19.3 month thous. of lbs.. 185,921 215,380 245, 505 254,957 3 217,783 252,704 0 .345 -5.8 .325 .325 .345 Price, Formosa, fine New York..dolls, per lb_. .345 .325 TOBACCO Consumption (tax-paid withdrawals): +9.7 +2.7 654,165 867,137 907, 774 393,007 413, 532 Large cigars... thousands.. 466,078 441,696 453,605 Small cigarettes thousands.. 8, 552,397 3,093,752 6,870,462 8,369,087 7,531,914 7,269,356 6,609,166 -10.0 +14.0 13,878,522 15,901,001 -2.1 65,312 33,992 64,878 31,553 +1.4 31,873 26,685 Manufac. tobacco and snuff.thous. of lbs.. 33,002 33,005 32,310 Exports: 84,582 - 3 . 1 -11.8 113,801 Unmanufactured thous. of lbs.. 3 47,527 3 54, 729 3 47,885 3 42,958 41,624 3 3 66,586 3 47,215 Cigarettes thousands.. 672,015 3 548,984 364,467 962,574 836,921 761,076 611,221 -13.1 +36.9 1,372,247 1,799,495 196,705 247,727 161, 702 116,822 135,470 Sales of loose-leaf, warehouses thous. of lbs.. 162,386 130,006 3 117, 721 -54.8 -48.0 61,235 Price, leaf, average warehouse sales, Kentucky _ dolls, per 100 lbs.. 12.356 10.536 -16.9 +83.1 11.331 9.812 20.220 23.227 19.294 *See table on p. 23 of the February, 1928, issue for earlier data. 1 Revised. t See table on p. 23 of the present issue for earlier data. +16.8 +1.3 +7.3 -1.5 -4.5 +14.6 +.7 -25.7 +31.1 -20.6 42 TREND OF BUSINESS MOVEMENTS—Continued 1928 1927 TOTAL PER CENT IN- CUMULATIVE FROM JANUARY 1 CREASE ( + ) OR THROUGH FEBRUDECREASE (—) ARY 28 1927 The cumulative* shown are through February, Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" October November December 11 Per ct. increase or decrease Feb., 1928, from Jan., 1928 Feb., 1928, from Feb., 1927 +12.1 +10.0 +24.9 +19.3 -2.4 +61.8 4,472 2,365 1,017 5,032 +12.5 2,140 -9.5 1,570 +54.4 +18.5 +46.2 175,092 230,521 +31.7 -2.5 -4.2 +.6 +6.1 +8.2 +4.9 3,553 6,346 19,374 +123. 6 15,532 +426.9 +7.3 -2.0 25,770 16,740 30,081 +16.7 18,106 +8.2 7,558,578 352,618 240,068 1,841,934 532,959 80,598 1,956,059 2,554,342 7,037,417 - 6 . 9 374,242 +6.1 257,663 +7.3 1,479,011 +19.7 504,282 - 5 . 4 63,131 - 2 1 . 7 1,901,681 - 2 . 8 2,457,407 - 3 . 8 January February January February 1927 cumulative 1928 from 1927 1928 TRANSPORTATION River and Canal Cargo Traffic Panama Canal: 2,718 2,489 Total cargo traffic thous. of long tons. 1,396 1,113 In American vessels thous. of long tons. 714 743 In British vessels _thous. of long tons. 11,231 6,898 Sault Ste Marie canals thous. of short tons. 381 327 New York State canals..-thous. of short tons. 89,030 101,206 Cape Cod Canal .short tons. 2,402 2,546 Suez Canal thous. of metric tons. 1,130,277 853,845 Welland Canal short tons. St. Lawrence Canal .short tons. 1,198,952 908,199 104,923 114,541 Mississippi River, Govt. barges short tons. Ohio River, Pittsburgh, Pa., to 823,910 Wheeling, W. Va short tons. 444,358 338,975 Allegheny River short tons. 2,132,076 2,020,004 Monongahela River short tons. Ocean Traffic ' Clearances, vessels in foreign trade: Total thous. of net t o n s . . American thous. of net t o n s . . Foreign thous. of net tons.. 2,574 1,099 763 1,169 None. 2,504 53,883 53,793 114,063 2,372 1,019 698 None. None. 73,097 2,647 None. None. 105,521 2,660 1,121 872 None. None. None. None. 125,000 2,242 1,216 478 None. None. 50,378 2,305 None. None. 89,610 2,230 1,149 539 None. None. 41,945 2,209 None. None. 85,482 621,496 624,697 89,242 85,605 1,935,879 2,117,558 685, 546 517,488 176, 540 81,585 ,965,934 2,327,246 6,974 2,939 4,035 6,957 3,261 5,296 2,057 3,239 5,163 1,865 3,298 5,035 1,877 3,158 5,153 1,818 3,335 9,290 3,364 26,657 22,554 35,867 30,742 20,787 15,218 1,208 241 194 204 9,294 2,888 214 4,746 1,735 3,011 10,198 3,742 6,456 +3.0 +5.3 +1.7 Shipbuilding Completed during month: Total gross t o n s . . P f Steel seagoing gross tons.. Building or under contract, end of month: Merchant vessels thous. of gross tons. _ 313 310 Freight Cars Surplus (daily av. last week of month): 259,548 Total cars.. 168,829 352,168 464,005 403, 792 372,916 Box. cars.. 82,411 158,304 224,247 182,001 155,554 148,742 148,860 183, 638 169,463 168,172 Coal 1 cars.. 61,455 62,588 Shortage (daily av. last week of month): 4 None. 164 None. 25 Total cars.. 302 None. 2 Box _ . . e a r s . . None. 3 None. None. None. None. Coal cars.. 103 85 None. None. Car loadings: Total.-. cars ..5,587,921 3,822,620 4,172,605 3,447,723 3.589,694 3, 756,660 187,197 187,045 178,988 182,059 Grain and grain products cars.. 273,675 219,482 127,658 130,005 129,321 Livestock cars.. 193,753 134,598 144,519 752, 752 726,259 939, 677 Coal and coke cars.. 1,004,056 713, 254 869,877 257,374 Forest products cars.. 336,527 244, 210 259, 598 233,368 270,914 31,737 37,845 Ore cars.. 243,550 76,267 40, 682 31,394 965,485 Merchandise and 1. c. 1 cars.. 1,348,614 1,015,551 1,177,774 927, 299 974,382 Miscellaneous cars.. 2,187, 746 1,456, 681 1,460,673 1,187, 712 1.269,695 1,247,970 275,153 141,589 83,252 -7.6 -14.5 +35.5 +9.9 +102.0 125 None. 85 -100 -100 -100 -100 -100 -100 +4.1 '3,801,918 3173,630 +L8 3110,747 3 902,257 -3.5 3 275,585 +16.1 3 42, 753 - 1 . 1 3 990,574 +5.1 +6.5 '1,306,372 -5.6 +7.7 +17.4 -19.5 -1.7 -26.6 -1.6 -2.8 Railroad O perations Operating revenue: Freight _ PassengerTotal operating Operating expenses Net operating income_ Freight carried _ thous. of dolls.. thous. of dolls. __.thous. of dolls. thous. of dolls.. .thous. of dolls. mills, ton-miles. 75,201 580,498 399,504 133,776 45, 552 385,760 70,885 503,820 376,876 86,424 37,228 334,742 81,990 467,598 377,800 55,334 34,580 337,382 78,483 457,426 363,384 56,634 36,271 61,305 2,606 61,088 2,602 60,784 2,595 60,679 3 2,597 8,778 14.4 195 345 8,961 14.8 149 366 17 8,257 13.6 135 378 149 112 81 12 52 31 7 72 41 13 53 27 182 97 45 19 51 18 »358,104 8 85,971 3 487,587 3 387,990 3 61,415 « 39,233 353,857 74,218 60,598 2,596 62,387 2,611 62,334 2,611 —. 1 0 -2.8 8,733 14.5 154 259 2 8,857 14.7 141 222 30 9,256 14.9 145 210 9,548 15.4 160 214 85 +1.4 +1.4 -8.4 -14.3 -7.2 -4.5 -11.9 +3.7 -64.7 305 424 111 295 481 32 -3.3 +13.4 -71.2 47 22 23 59 43 11 80 69 10 +25.5 +95.5 -52.2 -26.3 -37.7 +10.0 137 85 18 106 65 34 -22.6 -23.5 +88.9 151 22 148 23 56 232 44 -14.3 +4.5 -36.2 -47.7 222 161 38 13 204 146 40 6 412 334 23 41 403 314 29 -8.1 -9.3 +5.3 -53.8 -49.4 -53.5 +37.9 -33.3 361,473 70,045 37,250 Railway Equipment Locomotives (Am. R y . Assn.): Owned, end of m o n t h Quantity.. number. Tractive power mills, of lbs.. In bad order end of m o n t h Quantity number. Per cent of total in use per cent. Installed _ number. Retired _ .number. New orders number. Shipments, manufacturers' (census)— Total number. Steam, domestic ..number. Electric, domestic. numberUnfilled orders (railroads), end of mo.— From manufacturers number. In railroad shops .number. Unfilled orders, manufacturers' (census)— Total .number. Steam, domestic number. Electric, domestic number. Exports, steam number. 3 Revised. 145 74 42 5 232 178 39 25 50 19 - 6 2 . 0 43 TREND OF BUSINESS MOVEMENTS—Continued 1928 1937 The cumulative8 shown are through February. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" PER CENT INCREASE ( + ) OR DECREASE (—) 1927 October November December , 325,027 212,027 , 322,179 211,985 ,313,375 '2,309,577 210,923 3 210,649 139,441 6.1 326 137,795 6.1 14 130,493 5.8 14,114 136,115 6.0 2,098 138,870 6.2 5,876 136,847 5.9 17,196 4,320 4,101 3,780 3,754 2,545 2,536 774 576 444 444 10,901 6,991 3,910 9,721 6,424 3,297 12,431 9,341 3,090 18,464 15,459 3,005 19, 748 17,603 2,145 January February January February Feb., 1928, from Jan., 1928 Feb., 1928, from Feb., 1927 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 1927 1928 Per ct. i or decrease cumulative 1928 from 1927 TRANSPORTATION—Continued Railway Equipment—Continued Freight cars (Am. Ry. Assn.): Owned, end of m o n t h Quantity. _ cars. Capacity mills, of lbs. In bad order, end of m o n t h Quantity cars. Per cent of total in use __per cent. New orders ..cars. ShipmentsTotal cars. Domestic cars. Unfilled orders (railroads)— Total.. cars. From manufacturers.... cars. In railroad shops cars. Passenger cars: New orders .cars. ShipmentsTotal carsDomestic cars. -.2 -1.2 -.5 138, 292 6.1 4,185 +2.0 +3.3 +180.1 +.4 +1.6 +40.4 21,381 7,974 -62.7 3,209 3,160 3,023 3,009 -42.6 -22.9 -85.3 -85.2 6,232 6,169 1,218 1,020 -80.5 -83.5 27,069 17,209 9,860 28,426 18,255 10,171 +7.0 +13.9 -28.6 -30.5 -3.6 -78.9 -86.7 -66.7 560 697 - 5 . 1 +32.1 +5.9 +30.9 116 97 152 140 +24.5 +31.0 +44.3 , 306,063 , 336,050 , 335,000 210,404 211, 500 211,485 18 12 150 615 314 246 119 119 166 164 174 174 78 60 42 56 55 50,101 12,862 34,736 4,305 3,925 50,591 6,679 51,972 6,359 58,599 6,187 31,719 50,254 27,758 24,325 22,350 18,922 18,146 19,909 18,804 16,913 21,695 25,097 6,402 24,396 8,063 5,871 22,612 8,596 9,085 25,209 8,387 5,323 27,126 21,483 9,053 3,949 29,732 9,381 6,494 2,851 5,915 2,606 6,411 2,831 7,086 2,988 6,180 2,583 64,140 16,517 61,634 15,329 10,074 12,557 1,338 9,549 11,873 1,336 191,701 74,377 177,613 831, 635 7.805 756,806 7.841 6,730 2,354 4,376 6,081 2,196 3,885 Passenger Travel National parks: Visitors number. Automobiles entered number. Arrivals from abroad: Immigrants number. United States citizens number. Departures abroad: Emigrants number. United States citizens number. Passports issued number. Pullman company operations: ta/ Revenue thous. of dolls. *.„ Passengers carried thousands. m 53,319 6,658 8,971 2,886 +5.4 +7.6 -9.0 110,571 12,546 103,910 13,337 +6.3 +.8 -4.4 18,434 17,867 -3.1 -5.4 +1.7 1,588,441 1,584,146 PUBLIC UTILITIES Telephone companies: 67,089 Operating revenue thous. of dolls.. 65,233 65,193 16,445 16,006 10,935 Operating income thous. of dolls.. 16,783 Telegraph companies: 11,016 10,979 10,238 Commercial telegraph tolls.thous. of dolls.. 13,747 12,713 Operating revenue thous. of dolls.. 13,648 1,654 1,622 Operating income thous. of dolls.. 2,009 Gas and electric companies: 193,000 195,535 Gross earnings thous. of dolls.. 177,734 »182,077 Net earnings thous of dolls.. 65,260 3 70,214 78,000 80,815 Electric railways (212 companies): fe& Passengers carried thous. of persons., 790,712 771,443 830,930 814,172 7.999 8.018 7.985 ^Average fare cents.. Electric power production: 6,874 7,218 6,929 7,197 Total mills, of kw. hours.. 2,736 2,386 2,508 2,720 By water power mills, of kw. hours.. 4,482 4,477 By fuels mills, of kw. hours. 4,543 3 4,366 Electric power production (Canada):* Total thous. of kw. hours.. 1,309,170 1,311,211 1,361,864 1,317,736 By water power thous. of kw. hours.. 1,289,967 1,289,242 1,339,206 1,297,788 19,203 21,969 22,658 19,953 By fuels.. thous. of kw. hours. 142,991 130, 552 129,415 Exported thous. of kw. hours. Electric power, gross 150,800 158,000 166,200 revenue sales thous. of dolls. 769,974 1,131,212 1,065,850 1,113,899 1,050,057 17,313 15, 793 130,894 121,829 162,000 152,300 216 100 89 80 115.4 97.8 88.9 491 223 100 89 81 118.7 98.4 90.4 EMPLOYMENT AND WAGES Employment in factories: New York State thousands. Detroit thousands. New Jersey rel. to 1923. Pennsylvania rel. to 1923. Delaware rel. to 1923. Wisconsin rel. to 1915. Illinois rel. to 1922. Massachusetts rel. to 1914. Total pay roll: New York State (weekly)..thous. of dolls. Wisconsin rel. to 1915. New Jersey rel. to 1923. Pennsylvania rel. to 1923., Delaware rel. to 1923. Ohio construction employment rel. to 1923. Anthracite mines: Employment rel. to 1923-25. Payroll rel. to 1923-25., Federal civilian employees, Washington, D. C , end of month number.. 3 Revised. 485 192 95 84 73 117.2 93.7 85.5 476 196 94 83 74 112.3 91.8 84.3 467 205 93 81 75 112.0 90.8 81.2 457 224 91 80 75 111.6 88.9 80.5 14,195 262.4 102 85 13,671 251.1 100 84 77 13,830 248.8 103 83 81 13,361 231.6 98 79 76 84 73 »119.8 3 109.4 3 116. 6 3 116.2 60,236 119.7 3 98.7 91.3 81.5 13,477 100 85 76 14,331 251.2 107 90 14,465 274.1 109 94 85 54 61 3 462 233 91 82 74 3 120. 2 3 98.7 +1.1 -4.0 0 -5.9 +4.5 +2.5 -1.3 -9.0 -7.9 -8.6 +2.7 +1.2 -7.2 -9.8 +.9 -6.8 +2.0 +7.6 0 -8.3 -9.6 -10.6 -5.7 -3.0 -4.9 -9.6 69 113.4 95.7 3 3 119. 6 112.4 3 119.2 3105.9 -6.0 -.3 60,743 59,615 59,502 * See table on p. 22 of this issue for previous data. 44 TREND OF BUSINESS MOVEMENTS—Continued 1927 1937 The cumulative8 shown are through February. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" PER CENT INCREASE ( + ) OR DECREASE (—) Feb., 1928, Decem- January February January February from October November ber Jan., 1928 Feb., 1928, from Feb., 1927 Per ct. increase ( } CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 1927 1918 78,361 70, 387 43,046 27,341 83,739 75,857 48,082 27,775 t or decrease (-) cumulative 1928 from 1927 EMPLOYMENT AND WAGES—Con. Average weekly earnings, factories: Illinois. _ dolls. _ New York State dolls.. Wisconsin... __. dolls.. Massachusetts _rel. to 1914.. New Jersey rel. to 1923.. Pennsylvania .rel. to 1923.. Delaware rel. to 1923.. Average weekly earnings {National Industrial Conference Board): Grand total (both sexes) ..dollars.. Total male _. _ dollars.. Skilled male dollars.. Unskilled male dollars.. Total women dollars.. Average weekly hours: Nominal (both sexes) hours.. Actual (both sexes) hours.. Wages, road labor, by geographic divisions: New England cents per hour.. Middle Atlantic _ cents per hour_. j South Atlantic cents per hour.J East South Central cents per hour..! West South Central cents per hour..! East North Central cents per hour__i West North Central cents per hour..I Mountain _ cents per hour..] Pacific _..cents per hour.. United States, average cents per hour.. Wage rates, U. S. Steel Corp...cents per hour.. Wages, steel workers, Youngstown ! district _ _ per cent of base.. Applicants per 100 jobs, employment agencies: United States number.. Eastern States number.. Central States number.. Southern States number.. Western States number.. Factory Labor Turnover (Percentage of number on pay roll) Departures: Total per cent (annual basis).. Voluntary quits...per cent (annual basis).. Lay offs _.per cent (annual basis).. Discharges... per cent (annual basis).. Accessions per cent (annual basis).. 28.59 29.28 25.40 231.2 28.23 28.75 25.39 231.4 108 100 103 28.15 29.59 25.24 232.1 111 101 106 27.49 29.22 23.60 232.1 109 98 100 27.01 29.35 30.78 24.21 17.35 26.72 28.69 30.15 23.42 17.32 26.90 29.35 30.80 24.12 17.34 49.5 47.4 49.4 47.1 48 46 28 25 32 40 38 48 56 40 50 28.23 29.52 24.58 228.3 108 101 102 28.85 29.39 26.06 233.3 110 105 103 27.24 29.80 31.22 24.66 17.23 27.26 29.57 30.93 24.69 17.25 27.68 30.17 31.61 24.93 17.38 49.5 47.3 49.5 47.9 49.5 48.2 49.5 48.6 48 46 26 25 30 40 37 47 53 40 50 55 46 24 24 32 42 37 46 54 39 50 53 48 24 25 26 39 37 41 50 37 50 52 47 22 26 28 41 39 43 54 38 50 44 46 24 24 27 39 38 43 51 37 50 50 50 39 24 32 44 37 41 53 41 50 125.5 128.5 128.5 125.5 125.5 133.0 133.0 120 129 145 122 61 137 146 160 132 71 145 155 165 145 80 170 192 203 188 87 175 208 189 222 75 160 156 203 146 78 158 162 191 155 72 38.0 25.3 30.5 18.2 38.3 34.1 26.5 14.9 7.7 3.9 24.8 28.4 16.5 7.9 4.0 37.4 26.5 13.6 8.6 4.3 30.5 41.4 23.4 12.3 5.7 35.0 38.8 22.1 10.6 6.1 37.3 3 65, 707 3 41,210 59,494 37,465 34,486 24,240 25,008 13, 225 42, 529 38,392 23,842 14,550 39,404 35,237 22,080 13,157 38,957 35,150 20,966 14,184 109 101 102 7.7 5.0 DISTRIBUTION MOVEMENT Retail Sales Mail-order houses: Total sales, 4 houses thous. of dolls.. 3 57,754 Total sales, 2 houses thous. of dolls.. 50,869 Sears, Roebuck & Co thous. of dolls.. 29,302 Montgomery Ward & Co. .thous. of dolls.. 21, 567 Ten-cent chain stores: Total sales (4 chains) thous. of dolls.. 46,498 Total stores operated (4 chains)..number.. 2,396 F. W. Woolworth & Co—-thous. of dolls.. 26,032 Stores operated number.. 1,584 S. S. Kresge Co thous. of dolls.. 12,084 Stores operated number.. 419 McCrory Stores Corp thous. of dolls.. 3,332 Stores operated number. _ 217 S. H. Kress & Co thous. of dolls.. 5,069 176 Stores operated .number.. Metropolitan __ thous. of dolls.. 1,120 90 Stores operated number. _ F. & W. Grand thous. of dolls.1,223 55 Stores operated number.. W. T. Grant Co. thous. of dolls.4,275 Stores operated number.. 135 Restaurant chains: Childs Co., sales thous. of dolls_. 2,378 J. R. Thompson Co., sales.-thous. of dolls.. 1,224 Other chain stores: Isaac Silver & Bros thous. of dolls.. 509 Stores operated number_. 20 Hartman Corporation thous. of dolls. 1,478 Stores operated number. _ 18 J. C. Penny Co thous. of dolls— 17,165 Stores operated number. QQQ ooy United Cigar Stores Co thous. of dolls.. 6,822 Stores operated number. _ 3,143 A. Sehulte (Inc.)-...thous. of dolls.. 2,231 Stores operated number.. 297 G. C. Murphy Co.* thous. of dolls.. 875 Stores operated number.. 111 Installment sales in New England department stores: Ratio to total sales.. per cent.. 7.0 »Revised. 8.2 4.1 3 58,336 51, 229 29, 847 21, 382 44,254 2,415 23, 731 1,588 12,011 27.17 234.7 110 104 102 35,363 2,446 19,001 1,603 9,320 439 2,867 221 4,175 183 752 91 901 63 2,843 158 a 29, 651 a 31,986 2,223 2,244 16,117 17, 379 1,484 1,494 7,956 8,309 370 376 2,286 3 2,763 199 3 201 3,292 3,535 170 172 655 693 81 82 657 3 711 44 48 3 2,248 2,205 109 106 31,901 2,431 145 84,977 2,427 43,897 1,588 23,044 435 6,857 221 11,182 183 2,349 91 2,267 55 8,205 151 2,275 1,185 2,490 1,262 2,346 1,235 2,187 2,537 1,225 513 19 298 865 115 1,065 19 1,505 19 21,796 891 9,475 3,151 3,233 299 2,064 113 312 22 907 19 7,722 913 5,562 3,151 1,826 300 598 113 388 23 1,096 19 8,906 914 5,926 3,113 1,902 298 673 113 281 22 842 16 6,331 800 5,723 3,109 2,204 294 551 92 6.7 3.9 427 3,236 219 5,272 181 1,090 91 1,140 55 4,366 1,312 19 17,054 ftQft o\)\J 6,534 3,148 2,076 17,114 1,591 8,658 436 221 3,760 183 692 91 800 62 2,624 154 2,319 1,118 -7.0 -7.6 +1.1 +.9 +6.1 +2.0 0 -1.0 -1.0 -1.9 -2.1 -8.3 +4.0 +7.7 +5.1 +5.4 +4.9 +8.0 +2.7 0 +4.0 -6.0 -43.6 +8.3 -12.5 -6.8 +5.4 +4.9 +1.9 -7.3 0 0 -5.6 +2.9 +10.8 +8.3 +28.4 -1.0 -6.9 +18.1 +43.2 -13.8 +4.2 -6.7 -17.6 +8.9 +7.5 -18.4 +3.2 +2.5 —1.6 +10.0 +10.9 + 6 +11.0 + 8 +7.6 + 7 +21.0 0 +11.0 0 +8.7 0 +12.6 +1.6 +8.3 +2.6 -31.7 -38.5 -18.9 -29.5 -18.2 +9.2 +9.2 +13.7 +2.6 +10.6 +9.0 +9.3 +7.3 +12.2 +16.8 +3.8 +10.0 +18.1 +6.4 +8.5 +11.0 +26.7 +31.3 +26.5 +45.0 -5.7 -6.8 311 +24.4 22 +4.5 1,152 +20.8 17 0 3 7,497 +15.3 3 807 + 1 5,715 +6.5 2,362 294 608 92 +.6 -1.2 +24.8 +4.5 -4.9 +11.8 +18.8 +13.3 +3.7 +.5 -19.5 +1.4 +12.5 +10.7 0. +22.8 II 10.5 8.0 * See p. 23 of the February, 1928, issue for earlier data. 61, 637 67,264 +6.9 +7.8 +11.7 +1.6 +9.1 33,496 36,115 +7.8 " 16," 265" ~I7,~978" 5,049 ~6,~827' 5,236 +3.7 "7," 935" " l 6 . 2 1,348 1,444 +7.1 "I," 368" 1,701 +24.1 47453 4,856 ~5," 467" +22." 8 4,533 -6.7 +18.2 592 700 1,994 2,003 +5 "l3," 828 16,628 +20.2 11,438 11,488 "4," 566" 3,728 "I," I59" 1,271 +.4 -18.4 +9. 7 i 45 TREND OF BUSINESS MOVEMENTS—Continued p 1927 The cumulative* shown are through February. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" October November 1927 1928 December PER ( ENT INCREASE ( + ) OR DECREASE (—) Feb., 1928, January February January February from Jan., 1928 Feb., 1928. from Feb., 1927 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 1927 1928 -2.0 « 6,472 188, 496 4 6, 504 184,568 e r ct. increase or decrease cumulative 1928 from 1927 DISTRIBUTION MOVEMENT-Con. Advertising Magazine advertising for the following month thous. of lines.. Newspaper advertising +15.7 -6.8 +3.1 +4.3 59, 693 61,126 +2.4 3,284 +1.3 +6.0 6,601 6,920 +4.8 +1.6 +3.5 +1.6 +5.8 +2.6 20, 852 158,153 21,101 157,141 +1.2 3,303 34,001 10, 276 77, 680 3,158 32, 240 6,461 66, 241 6,757 67,200 +4.6 +1.4 187,460 679, 290 192 866,942 205,604 767,121 176 972,901 +15.6 -6.1 +37.8 -2.4 +3.2 +10.4 393,064 1,446,411 368 1,839, 843 395,631 1, 748, 531 300 2,144,462 +20.9 -18.5 +16.6 1,923,894 84,419 2, 224,370 80, 208 +15.6 -5.0 1, 202,630 392,509 140, 564 1, 735, 703 1, 226,164 458, 251 138,346 1, 822, 761 +2.0 +16.7 -1.6 +5.0 2,599 115,472 2,289 108,671 1,811 106,430 2,176 95,545 2,517 89,023 2,210 97,610 32,450 32, 799 40,823 30, 579 30, 547 30,394 29,299 3,395 3,331 4,448 3,438 3,482 3,317 11,659 76, 574 11,954 97,863 13, 516 102,259 10,468 78, 220 10, 633 78,921 10, 576 80,473 3,363 35,147 3,381 34,860 3,759 37,452 3,416 34,117 3,341 33,083 I 3 2,441 +.5 -2.1 thous. of lines.. Postal Business Postal receipts, 50 selected cities thous. of dolls.. ostal receipts, 50 industrial cities thous. of dolls.. Money orders: Domestic paid (50 cities)— Quantity number.. Value.. thous. of dolls.. Domestic issued (50 cities)— Quantity number Value thous. of dolls +.9 -2.2 -3.0 -.6 BANKING AND FINANCE Life Insurance (Association of Life Insurance Presidents) Policies, new (45 companies): 212,120 Ordinary.._ number of policies.. 212,924 203, 629 256,546 183, 511 Industrial number of policies.. 992,140 940,847 783, 539 901, 786 846, 745 Group. _ number of contracts.. 491 175 208 125 148 Total number of policies and contracts.. , 205, 212 1,144,684 1,040,576 1,085,422 1, 059,040 Policies and certificates issued: Total policies and certificates number.. 1,228,861 1,172,404 1,164, 208 1,11], 705 1,112,665 Group insurance certificates...certificates.. 53,800 23, 797 27,928 124,123 Amount of new insurance (45 companies): 651,037 Ordinary thous. of dolls.. 615,753 582,000 725,847 575,127 221,948 Industrial thous. of dolls.. 265,974 252,738 211,076 91, 505 Group thous. of dolls.. 48, 625 76,960 165,025 46,841 Total insurance thous. of dolls.. 930,352 911,698 1,101,948 858, 271 964,490 Premium collections (45 companies): 154,292 Ordinary thous. of dolls.. 140,041 145, 581 168,114 148,947 48,193 Industrial thous. of dolls.. 49, 272 89,926 48, 273 54, 564 17,623 5,792 6,448 Group.. thous. of dolls.. 4,862 7,618 220,108 Total.thous. of dolls.. 195,105 211,129 198, 716 264,488 Admitted life insurance assets (41 companies): 11,381 11,484 Grand total mills, of dolls.. Mortgage l o a n s 4,982 Total mills, of dolls.. 5,019 1,621 Farm mills, of dolls.. 1,620 All other mills, of dolls 3,361 3,399 Bonds and stocks (book value)— 4,262 4,323 Total mills, of dolls.. 928 Government mills, of dolls. 940 2,268 2,287 Railroad mills, of dolls.. 911 942 Public-utility mills, of dolls. 155 154 All other mills, of dolls. Policy loans and premium notes. mills, of dolls. 1,347 1,358 (Life Insurance Sales Research 918, 717 1,005,177 32,452 51, 967 576, 642 185, 292 94,445 856,379 207,217 46,119 879,324 135,395 45,920 7,065 135,969 43,286 4,803 184,058 10, 529 10, 606 4,587 1,592 2,995 4,637 1,599 3,038 3,987 919 2,173 764 131 4,002 918 2,173 775 136 1,240 1,252 -.6 +8.9 +.1 +10.7 +103. 7 +65.8 +13.2 +4.0 -6.1 +7.1 +95.4 +98.4 +12.4 +9.7 +3.6 +13.5 -11.7 +11.3 +131. 3 +266. 9 +4.3 +19.6 271,364 89,206 11,868 372,438 303, 239 +11.7 102,757 +15.2 25, 241 +112.7 431,237 +15.8 1:::::::: 1" Bureau) Sales of ordinary life insurance (81 companies): United States total thous. of dolls.. Eastern manuf. dist thous. of dolls.. Western manuf. dist__ -thous. of dolls.. Western agric. district.thous. of dolls.. Southern district thous. of dolls.. Far western district thous. of dolls.. Canada total, 15 companies-thous. of dolls.. +.7 659,375 257,543 148,380 103,663 82,706 67,083 48,104 662,688 254, 111 150,447 106,310 84,189 67,631 44,935 34,091 25,117 1,849 33,282 23,809 2,159 379 1,717 862 3,067 2,404 74.4 833,944 316,931 188,770 131,530 113,184 83,529 673,855 +20.0 293,294 +21.7 145,932 +22.9 95,686 +15.6 77,258 +18.0 61,685 +15.3 35, 525 -15.3 +8.5 +8.7 +9.8 +9.5 +5.1 +7.4 +13.4 1,275,840 551,028 279,844 181,853 143,370 119, 745 72,511 1,340,373 580, 557 290,523 195,473 150,060 123, 755 87,859 +5.1 +5.4 +3.8 +7.5 +4.7 +3.3 +21.2 +19.3 +4.7 +33.1 +16.5 +13.3 +.7 - 7 . 5 - 7 . 4 +24.9 +.1 - 5 . 4 58, 697 44,238 2,705 70, 624 46,764 3,536 +20.3 +5.7 +30.7 609,228 261,893 130,338 90,662 68,847 57,483 47, 569 731,145 318,664 160,185 104,811 81,213 66, 272 40, 290 601,985 257,734 133,912 86,167 66,112 58,060 26,509 2,311 37,884 25,007 1,871 32, 740 21,757 1,665 31,258 23,457 1,454 27,439 20,781 1,251 477 1,717 903 2,940 2,413 71.2 609 1,813 990 2,862 2,473 66.8 423 1,577 812 2,971 2,452 73.7 1,588 752 2,974 2,426 74.1 365 1,688 607 3,133 2,245 79.6 435 1,717 602 3,144 3,290 78.5 15,029 6,065 13,464 15,214 6,329 13,954 15,433 6,386 13,786 15,265 6,575 13,888 15,143 6,558 13,716 14,200 5,540 12,879 14,297 5,662 12,904 -.8 -.3 -1.2 +5.9 +15.8 +6.3 3,946 4,092 4,433 4,420 4,323 3,139 3,256 -2.2 3,372 3,511 3,718 3,816 3,722 +32.8 +32.3 Banking Check payments: New York City mills, of dolls. Outside New York City mills, of dolls, Canada _ mills, of dolls . Federal reserve banks: Bills discounted mills of dolls. Notes in circulation mills.. of dolls. Total investments mills. of dolls. Total reserve mills.. of dolls. Total deposits. .mills.i. of dolls, Reserve ratio per cent. Federal reserve member banks: Total loans and discounts...mills,i. of dolls. Total investments mills.i. of dolls. N e t demand deposits mills.i. of dolls. Brokers' loans, end of m o n t h : T o New York Stock Exchange members mills, of dolls. B y New York F . R. member banks mills,:. of dolls. »Revised. -13.6 -13.0 -11.0 -1.1 +.5 2,732 -2.5 2,813 4 Cumulative through Mar. 31. -26.3 -5.6 46 TREND OF BUSINESS MOVEMENTS—Continued 1927 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" 1928 October November December cent__ cent._ cent.. cent.. cent.. 4.03 3.97 3.50 5.17 4.50 3.75 3.92 3.50 5.17 4.50 4.44 3.97 3.50 5.15 mills, of dolls.. 4,083 4,096 18,369 mills, of dolls.. thous. of dolls. _ 56, 617 thous. of dolls. _ 221,205 18,174 47,660 149, 683 413,220 PER CENT INCREASE ( + ) OR DECREASE (—) 1927 January February January February Feb., 1928, from Jan., 1928 Feb., 1928, from Feb., 1927 -3.4 +3.9 +14.3 -2.9 +1.8 +1.7 +4.1 +1.8 +.3 +7.6 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 I 1927 I 1928 Per ct» (+) or decrease (-) cumulative 1928 from 1927 BANKING AND FINANCE-Continued Banking—Continued Interest rates: New York call loans.. Commercial paper 4-6 mos__ N. Y. Fed. Res. Bank Federal land banks Intermediate credit banks 4.50 I 4.35 3.88 3.50 5.15 4.50 4.20 4.03 4.00 5.00 4.58 4.28 4.13 4.00 5.21 4.50 4.13 3 3.87 4.00 5.21 4.50 4,164 I 4,189 4,200 3,889 3,903 18,036 43,113 652, 708 18,050 41, 975 168,840 17,951 42,130 228,118 19,170 44,695 169, 583 19,153 43,379 165, 735 406,830 354,178 349,142 173,283 304, 254 158, 506 36,236 36,147 51, 262 47, 634 45,071 51, 290 46,941 17,134 14, 657 4,445 2,157 12, 786 16,949 6,412 2,531 29,024 16, 733 5,305 2,914 14,871 26,446 6,318 5,382 12, 751 24,952 7,367 3,991 19,996 24, 530 6,764 2,954 10,518 23,406 13,017 3,213 1,787 1,864 2,162 2,643 2,176 2,465 1,170 129 173 478 1,276 110 162 597 1,430 135 184 553 1,946 144 360 1,581 127 210 501 1,842 122 221 321,800 227,100 490,675 331,175 750,200 460, 600 333, 000 176,000 428,900 258, 750 307,450 3 421,470 155,000 251,620 of dolls.. of dolls.. of dolls._ of dolls.. 94, 700 48,800 33, 500 12,400 159, 500 119, 700 24,050 15, 750 289, 600 179,800 33,800 21,000 157,000 114,300 33,100 9,600 170,150 129, 050 34,600 6,500 152,450 3169,850 112, 700 3 130,100 33,850 31,650 8,100 5,900 Foreign governments thous. of dolls.. Total corporation thous. of dolls.. Purpose of i s s u e New capital thous. of dolls.. Refunding .thous. of dolls.. Kinds of i s s u e Stocks thous. of dolls.. Bonds and notes thous. of dolls.. Class of i n d u s t r y Railroads. thous. of dolls.. Public utilities thous. of dolls.. Industrials. _ thous. of dolls.. Oil thous. of dolls.. Land and buildings thous. of dolls.. Shipping and misc thous. of dolls.. Bond issues (Canada): Govt. and provincial thous. of dolls.. Municipal thous. of dolls.. Corporation thous. of dolls.Tax-exempt securities: Total outstanding, end of month*. _ mills, of dolls.. States and municipalities: Permanent loans thous. of dolls.. Temporary loans, thous. of dolls.. New incorporations _ thous. of dolls. . 125,623 734,081 35,800 617, 554 67, 547 852,064 79,808 573, 573 117,351 612,696 52,383 610,035 74, 670 785,649 +47.0 +57.2 +6.8 -22.0 574,380 159, 701 134,568 599, 513 403, 365 214,190 408, 545 165,028 411, 352 201, 344 507,503 102,532 540,588 245,061 +22.0 - 1 7 . 8 +.7 -23.9 138,545 435,028 126,857 485,840 108,511 501, 524 277,978 507,671 -8.4 +11.7 32, 550 311,832 113, 368 42,000 73, 729 160, 603 16, 796 252, 482 180, 038 8,200 42, 730 117, 309 588, 591 263.472 273,591 578.473 73, 686 517,412 54,938 42,000 58, 225 105,803 78, 222 210,155 118,902 2,200 78, 741 74, 331 74, 216 262,825 93, 570 20,675 24, 045 3,828 74,936 58, 540 10, 532 24,260 2,500 11, 340 5,858 4,000 415 9,396 16,060 16,142 per per per per per 0 -4.0 Savings Deposits New York State savings banks, end of month Public Finances Government debt, gross Customs receipts.-. Total ordinary receipts Expenditures chargeable to ordinary receipts... .thous. of dolls.. -.5 -6.3 +.4 -2.9 +35.1 +37.6 -50.4 +9.3 88,074 335, 318 84,105 396,958 462,760 522,425 -4.5 +18.4 +12.9 Business Failures Liabilities (United States): Total commercial thous. of dolls.. Manufacturing establishments thous. of dolls.. Trade establishments..thous. of dolls.. Agents and brokers thous. of dolls. _ Liabilities (Canada).. thous. of dolls.. Firms (United States): Total commercial number.. Manufacturing establishments number.. Trade establishments number. _ Agents and brokers number.. Firms (Canada).. number.. -5.4 -4.0 98, 231 92, 705 -5.6 30, 514 47,936 19, 781 6,167 27,622 51, 398 13, 685 9,373 -9.5 +7.2 -30.8 +52.0 2,035 +21.2 +6.6 +16.6 -43.4 - 2 5 . 8 +24.2 -17.7 +6.9 4,500 4,819 +7.1 411 1,508 116 189 -15.4 -18.8 -11.8 -41.7 +13.9 +4.8 +9.5 +11.1 912 3,350 238 410 1,021 3,527 271 570 +12.0 +5.3 +13.9 +39.0 -14.3 -5.6 Dividend and Interest Payments (For the following month) Grand total Interest payments Dividend payments: Total Industrial and misc Steam railroads Street railways ...thous. of dolls.. thous. of dolls.. thous. thous. thous. thous. +28.8 +1.8 *1, 406,670 < 1, 512,100 +7.5 +47.0 +2.8 « 807,530 « 895,350 +10.9 +.2 < 589,100 < 616, 750 +4.7 +8.4 +12.9 - . 8 * 408,000 < 423,150 +3.7 +4.5 +2.2 < 96,400 * 101, 500 +5.3 -32.3 +10.2 * 33,200 * 37,100 +11.7 New Security Issues 121,198 496,356 316,205 j 316,278 124, 759 3105, 067 «117,903 69, 561 3 26, 575 3 44, 248 225,803 235,021 243,998 103,479 73, 320 127, 053 197,159 1,395,684 1,186,269 +55.2 -15.0 1,048,091 347, 593 819,897 366,372 -21.8 -54.4 -4.3 386,489 1,009,195 265,402 920,868 -31.3 112,672 9,346 309,084 106,350 68,588 74,381 40,286 131,872 - 5 . 1 -43.7 374, 775 +25.1 - 2 9 . 9 150,115 - 2 1 . 3 - 3 7 . 7 2,700 +839.8 +665.7 55, 763 - 3 9 . 0 - 1 3 . 9 70,424 +51.6 +60.0 141, 218 683,859 256,465 71,288 130,144 110, 710 152,438 472,980 212,472 22,875 126, 779 187, 003 -30.8 -17.2 -67.9 -2.6 +68.9 5,000 1,560 3,185 35,611 13, 998 7,494 640 +25.0 +681. 2 1,842 +275. 9 - 1 5 . 3 13,000 66.1 - 7 5 . 5 36, 251 15,840 20,494 9,000 1,975 12, 581 -75.2 -87.5 +.4 +5.9 +23.8 +76.2 -80.5 - 8 8 . 2 247,356 152,343 231, 544 87,648 -6.4 -42.5 16, 342 15,311 • 15,437 128,065 14,328 174,675 30,476 739,730 72,681 121,867 942,925 Agricultural Finances Loans outstanding, end mo.: 1,085,170 1,097,642 Federal farm loan banks thous. of dolls.. 1,147,135 1,150,943 1,155,644 jl, 158, 717 639, 651 647,762 607,891 607,477 " Joint-stock land banks thous. of dolls.- 610,050 609,984 Federal intermediate credit 71,815 82,424 93,013 75,915 74,888 banks thous. of dolls.. 1,362 7,310 1,244 6,815 4,080 1,800 War Finance Corporation..thous. of dolls.. If 2 * See table on p. 23 of the February, 1928, issue for earlier data. +.2 -5.8 - 1 . 4 -82.0 s Revised. +5.4 +7.9 47 TREND OF BUSINESS MOVEMENTS—Continued 1938 1927 The cumulatives shown are through February. Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, *'Survey" October PER CENT INCREASE ( + ) OR DECREASE (—) 1927 Feb., 1928, from Jan., 1928 Feb., 1928, from Feb., 1927 -1.2 -2.6 -2.0 +32.2 +9.0 +16.4 November December 237.84 120.04 142.63 242.50 119.68 144.26 242. 25 118.29 142.13 239.32 115.20 139.30 175.39 101.55 115.29 181.06 105.66 119.69 111.94 112.36 112.25 111. 73 109.72 110.36 -.5 +1.2 189.4 158.6 202.1 353.5 598.4 136.3 406.6 194.6 160.6 208.7 366.5 601.0 150.5 432.1 195.2 158.2 210.4 369.8 582.3 150.5 430.6 191.9 153.7 207.6 372.9 565.0 148.5 425.8 153.5 136.9 160.2 226.6 417.0 116.0 310.2 156.9 142.1 163.0 233.4 422.3 115.3 314.8 -1.7 -2.8 -1.3 +22.3 +8.2 +27.4 +59.8 +33.8 +28.8 +35.3 111.5 107.5 207.9 152.0 45.1 174.1 55.8 226.7 274.6 117.8 106.4 218.4 159.3 44.4 178.7 62.1 225.5 283.9 122.3 107.4 231.6 159.1 46.6 178.6 64.7 220.5 294.8 125.6 101.9 225.3 154.5 47.5 180.3 58.7 209.2 309.9 94.1 110.5 176.3 123.6 41.5 167.5 47.0 167.8 218.6 96.9 112.3 185.2 125.3 40.0 175.9 50.2 167.3 217.8 +2.7 +29.6 January February January February CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 1927 Per ct. increase ( } t or decrease (-) 1928 cumulative 1928 from 1927 BANKING AND FINANCE-Continued Stocks and Bonds Stock prices, average daily closing: 233.36 25 industrials, average dolls, per share.. 117.84 25 railroads, average dolls, per share.. 130.15 103 stocks, average dolls, per share.. Southern cotton inill 111.31 stocks... dolls, per share.. Stock prices, average weekly closing: 186.1 Total stocks (229) rel. to 1917-21.. 157.6 Railroads (31). rel. to 1917-21.. 197.6 Industrials (198).. rel. to 1917-21.. 355.8 Automobile (10) rel. to 1917-21.. 573.6 Chain stores (11) rel. to 1917-21.. 128.0 Copper (11) rel. to 1917-21.. 389.1 Food (9) rel. to 1917-21.. Machinery manufactur109.6 ing (5) rel. to 1917-21.. 104.0 Petroleum (17) rel. to 1917-21.. 203.8 Railroad equipment (10)—_rel. to 1917-21.. 153.1 Steel (9) _.rel. ro 1917-21.. 43.9 Textile (5) __ rel. to 1917-21.. 173.4 Theater (3) rel. to 1917-21.. 55.4 Tire and rubber (7) rel. to 1917-21.. 208.7 Tobacco (7) rel. to 1917-21.267.2 Traction, gas and power (16) .rel. to 1917-21.. Stock sales: 50,459 N. Y. Stock Exchange thous. of shares.. Bond sales: Miscellaneous thous. of dolls.. 258,112 13,187 Liberty-Treasury thous. of dolls.. Total thous. of dolls.. 271,299 Bond prices: 96.11 Highest-grade rails. .p. ct. of par, 4% bond.. 87.24 Second-grade rails.__p. ct. of par, 4% bond.. 79.00 Public utility p. ct. of par, 4% bond.. 79.93 Industrial p. ct. of par, 4% bond.. 85.05 Comb, price index.__p. ct. of par, 4% bond.. Bond prices, 1st of following month: 103.92 5 Liberty bonds . . . p . ct. of par.. 16 foreign government and 104.65 city.. p. ct. of par.. 101.59 Comb, price index, 66 bonds..p. ct. of par.. Bond yields: 4.24 Railroads (15) percent.. 4.79 Industrials (15) .percent.. 4.75 Utilities (15) percent3.93 Municipal (15) percent.. 3.95 Municipal bond yield (20)... per cent.. Long-term real-estate bonds issued: 59,092 Grand total thous. of dolls.. Purpose of i s s u e 35,819 Finance construction...thous. of dolls.. 10,523 Real-estate mortgage—. thous. of dolls. Acquisitions and 525 improvements thous. of dolls. Kind of structureOffice and other 21,980 commercial thous. of dolls. 3,845 Hotels •„ thous. of dolls. 11,519 Apartments thous. of dolls. GOLD AND SILVER Gold: Domestic receipts at mint fine ounces. Rand output thous. of ounces. Imports thous. of dolls. Exports. thous. of dolls. Monetary stock .mills, of dolls. Silver: ProductionUnited States -thous. offineoz_ Canada -thous. offineoz_ Mexico thous. offineoz_ Stocks, end of monthUnited States thous. of fine oz. Canada -thous. offineoz_ Imports. thous. of dolls. Exports _ thous. of dolls. Price at New York dolls, per fine oz. 97,103 856 2,056 10,698 4,541 4,980 1,696 8,273 +.8 -3.0 -1.3 -1.1 -5.1 -2.7 -2.9 +1.9 +1.0 -9.3 -5.1 +5.1 -9.3 +21.7 +23.3 +18.8 +2.5 +16.9 +25.0 +42.3 51,356 62,367 56,963 47,165 34, 757 44,163 -17.2 +6.8 78,920 104,128 +31.9 261, 540 20,205 281,745 267,918 23,916 291,834 269,374 20,864 290, 238 222,644 16,611 239, 255 326,065 25,349 351,414 282,405 15,288 297,693 -17.3 -20.4 -17.6 -21.2 +8.7 -19.6 608,470 40,637 649,107 492,018 37,475 529,493 -19.1 -7.8 -18.4 97.23 87.87 79.14 79.86 85.43 97.20 88.57 79.55 80.82 85.98 97.04 88.75 79.66 81.28 86.15 96.50 88.61 80.03 81.33 86.13 91.97 83.52 76.66 79.51 82.52 91.51 83.29 76.32 79.32 82.23 106. 53 106.02 105.94 105.96 103.31 103.37 0 +2.5 105. 46 102.43 105.60 102. 46 105.90 102.60 105.92 102.41 105.23 100.38 104.84 100.27 0 -.2 +1.0 4.19 4.79 4.76 3.93 3.93 4.17 4.79 4.72 3.90 3.87 4.13 4.76 4.68 3.89 3.87 4.20 4.79 4.65 3.89 3.87 4.42 4.87 4.81 4.04 4.08 4.41 4.85 4.82 4.04 4.08 +1.7 +.6 -.6 0 0 -4.8 -1.2 -3.5 -3.7 -5.1 27,131 52,322 61,167 39,840 67,960 -34.9 -18.4 116, 758 101, 007 -13.5 12,460 5,241 24,270 11,207 32,759 12,900 14,085 2,710 36,767 17,480 17,443 9,630 -57.0 -79.0 -19.3 -71.9 54,210 27,110 46, 844 15,610 -13.6 -42.4 1,850 5,115 6,533 12,175 6,663 14, 700 +86.4 -17.2 21,363 18,708 -12.4 9,155 2,660 2,226 16,055 3,790 7,025 29,000 650 4,309 22,415 700 1,910 23,295 4,050 11,827 18,708 925 3,780 -22.7 +19.8 -24.3 -49.5 42,003 4,975 15,607 51,415 +22. 1,350 - 7 2 . 9 6,219 -60.2 91,840 848 2,082 55,266 4,451 75,575 851 10,431 3 77,849 a 4,379 73,624 3 844 38.320 52,086 3 4,373 72,119 816 14,686 25,776 4,359 80,777 840 59,355 14,890 4,564 65,999 779 22,309 2,414 4,586 -2.0 -3.3 -61.7 -50.5 +9.3 +4.7 146,776 1,619 81,664 17,304 145,743 -.7 1,660 +2.5 53,006 -35.1 77,862 +350. 0 4,504 1,192 5,196 1,459 8,559 4,979 1,733 6,930 -16.8 -31.2 -70.4 -52.1 -26.1 +11.8 o -17.9 +39.9 +21.0 +20.0 -1.6 I 5,010 1,739 3 10,794 5,015 1,723 3 9,000 3 4,980 3 1,433 178 494 5,069 5,945 . 560 136 567 5,102 5,634 .575 353 608 3,770 7,186 .580 574 1,141 6,305 6,692 .571 170 547 4,658 7,479 .570 700 1,300 5,151 7,388 .558 4. 87 . 039 . 055 . 139 . 402 .269 . 193 4.87 .039 .055 .140 .404 .269 .193 4.88 .039 .054 .140 .404 .270 .193 4.88 .039 .053 .139 .403 .269 .193 4.87 .039 .053 .139 .403 .268 .192 4.85 .040 .043 .139 .400 .267 .193 207 391 3,849 6,233 .579 -.2 +.5 +.1 0 +7.7 -55.7 +5.5 +6.4 +4.9 +2.5 +4.7 +11 -34.2 -4.9 FOREIGN EXCHANGE RATES Europe: England— France... Italy Belgium Netherlands Sweden Switzerland 3 Revised. ..dolls, per £ sterling. dolls, per franc dolls, per lira. __ .-dolls, per franc dolls, per guilder. dolls, per krone. dolls, per franc 4.85 .039 .043 .139 .400 .267 .192 — 2 o' 0 0 0 -.4 -.5 +.4 0 +23.3 0 +.8 +.4 0 10,175 3,192 9,484 2,625 -6.8 -17.8 9,000 13,621 10,963 14,171 +21.8 +4.0 48 TREND OF BUSINESS MOVEMENTS—Continued 1927 The cumulatives shown are through February, Earlier data for items shown here may be found on pages 24 to 138 of the February, 1928, "Survey" 1928 PER CENT INCREASE ( + ) OR DECREASE (—) 1927 October November dolls, per yen. dolls, per rupee .466 .364 .460 .365 dolls, per Canadian doll. dolls, per gold peso. dolls, per milreis. 1.001 .972 .119 .122 1.001 .971 .119 .122 355, 744 344, 267 331, 236 i 3 337,954 351,151 356,841 3 310, 877 123, 659 18, 297 20,846 11,369 33,119 115,910 15,460 18,401 10, 697 33,841 103, 383 13, 224 15,511 8,727 29,063 97, 019 12,107 15,855 8,681 23,088 100,140 12, 572 15, 908 9,011 21, 428 3 91, 340 14,195 13, 246 3 6, 713 3 25,693 .84,752 44, 670 81, 578 45,113 76, 485 40, 553 76,320 37, 042 71, 993 37, 563 79,946 31,972 43, 268 8.536 44,945 8,296 47, 529 6,413 47,185 6,736 3 43,977 6,700 98,994 33, 973 5,071 95, 704 25, 639 6,129 93, 565 34,229 10, 275 107, 516 31, 999 9,573 45,007 7,542 128, 911 37,188 10, 790 119, 220 118,394 44,194 41, 347 67,807 83,173 49,145 36,123 60,091 80, 512 488, 643 461,018 407,617 | 410,420 254,462 29,050 62,637 14,494 89,958 241,169 28, 542 58,657 14,926 79,197 207,088 23,127 43,848 15,907 72,498 | 114, 543 3 80, 682 106,391 69,991 90,748 | 87, 325 56,708 ! 54,184 88, 054 50, 718 87,250 53,984 32, 719 13, 640 39, 725 15,381 37,396 ! 34,803 15,025 ! 12, 579 44, 584 15, 355 31,995 3 10, 532 77,031 33, 711 9,888 480,428 64, 726 27,814 9,007 452,868 61,923 23,212 10,462 398,344 160,282 145,889 117,574 | 112,062 95,292 62,425 45,643 55,001 157,077 46, 723 42,398 56,140 161,722 23,303 18,077 42,057 43,296 59,612 3 63,843 155, 798 3 164,667 13,307 39,483 55, 762 158,841 December January February Tanuary February Feb., 1928, from Jan., 192S Feb., 1928, from Feb., 1927 CUMULATIVE TOTAL FROM JANUARY 1 THROUGH FEBRUARY 28 1927 1928 ! Per ct. increase or decrease cumulative 1928 from 1927 FOREIGN EXCHANGE RATES-Con. Asia: Japan India America: Canada Argentina Brazil Chile. dolls per paper peso. .462 | .367 I .469 .367 .469 .365 .364 .363 -.5 .972 .120 .122 .971 .120 .122 .971 .120 .122 .939 .117 .120 .947 .118 .120 0 0 0 0 -3.9 +.6 0 +2.5 +1.7 +1.7 U. S. FOREIGN TRADE Imports Grand total. thous. of dolls. By grand divisions: EuropeTotal. thous. of dolls. France thous. of dolls. Germany. _ thous. of dolls. Italy thous. of dolls. United Kingdom thous. of dolls. North America— Total.. thous. of dolls. Canada thous. of dolls South AmericaTotal-. thous. of dolls Argentina— thous. of dolls. Asia and OceaniaTotal thous. of dolls. Japan.. thous. of dolls. Africa, total thous. of dolls. By classes of commodities: Crude materials thous. of dolls Foodstuffs, crude, and food animals thous. of dolls. Manufactured foodstuffs. __thous. of dolls. Semimanufactures thous. of dolls. Finished manufactures thous. of dolls. Exports Grand total, including reexports. thous. of dolls. By grand division: EuropeTotalthous. of dolls. France -thous. of dolls. Germany thous. of dolls. Italy. thous. of dolls. United Kingdom.. thous. of dolls. North AmericaTotal -thous. of dolls. Canada -thous. of dolls. South AmericaTotal thous. of dolls. Argentina thous. of dolls. Asia and Oceania— Total -.-thous. of dolls. Japan thous. of dolls. Africa, total thous. of dolls. Total domestic exports only thous. of dolls. By classes of commodities: Crude materials thous. of dolls. Foodstuffs, crude, and food animals thous. of dolls. Manufactured foodstuffs..-thous. of dolls. Semimanufactures thous. of dolls. Finished manufactures thous. of dolls. Agricultural exports (quantities): All commodities.. rel. to 1910-14. All commodities except cotton rel. to 1910-14. 122, 507 3 133, 402 51,504 28, 227 59, 037 3 48, 300 3 28, 725 33 61, 227 66, 299 ! ! I j3 130, 900 47, 545 36,194 64, 303 72, 209 +13.0 667, 71S 689,105 -1.9 +13.9 267,996 264,302 -1.4 3 42, 725 -1.6 3 39,815 +26.0 3 52,051 +5.0 3 61, 402 +8.9 +11.3 -9.1 +23. 5 +17.6 66, 762 118,025 128,128 95, 845 64, 919 125, 530 138,508 +10.4 -2.8 +6.4 +8.1 -9.1 +.2 791,840 783,420 -1.1 776,034 764,630 -1.5 122, 510 3 102,811 -15.0 -7.3 225,321 207,354 -8.0 3 18, 758 -26.4 3 38,522 -8.8 3 53,120 -12.7 3 151,174 -3.5 -29.1 +2.5 +5.0 +5.1 43,164 79,538 114,459 313,553 31,384 82,779 119,605 323, 508 -27.3 +4.1 +4.5 +3.2 +8.2 +15.1 +7.1 +13.3 153,513 165,069 165, 513 174,815 +7.8 +5.9 153,113 3 114,883 44,081 26, 947 65, 974 +3.2 3 89,161 23, 264 6,453 373,000 |j 419,402 3 372,438 207,314 21,290 42, 331 14,530 74, 392 72,164 26,024 8,814 401,945 +3.9 211,038 i 174,360 20, 302 13, 507 40, 257 35, 762 13, 238 9,881 89, 819 3 70,461 3 71,304 3 22,971 3 7, 528 411,649 3 364, 385 66,046 22,700 362, 685 24,406 41,016 61, 339 162,379 185 161 119 113 150 130 218 187 133 127 140 116 93,936 105,821 94,312 155, 521 83,263 132,189 79,506 84,428 78,806 85, 266 74, 707 79,803 CANADIAN FOREIGN TRADE Total rade: Imports Exports 8 Revised. thous. of dolls. thous. of dolls. 86,007 90, 387 ItifetlCATIONS OF THE DEPARTMENT OF COMMERCE i of the Department of Commerce having the most direct interest to readers of the SURVEY OP CTTBBENT w. A complete list may be obtained by addressing the Division of Publications, Department of Commerce j ojf the publications inay be purchased from the Superintendent of Documents, Government Printing " re (prices, stated. If no price is mentioned, the publication is distributed free. , BUREAU OF STANDARDS >J?THE SECRETARY (iDouJble-ended Open Type) Sizes and jjjl ^mpiled and promulgated by AmerijCqmmittee. American Marine Stand* ijages, charts. Price, $£. pi, February, 1928. 26 pages. Issued , Division of the Department of Comqt radio stations and references to cur[ffi copies, 5$; annual subscription, THE CENSUS Simplified Practice Recommendations: No. 66. Automobile Brake Lining, iv+12 pages, 1 illustration. Price, 5£ No. 68. Metal and Fiber flash-light Cases, iv-f 12 pages, 1 Ulustration. Price, 6fS. : No. 70; Salt Packages, ii+10 pages, 1 illustration. Price, 5£. No. 72. Solid Section Steel Windows. , iv+34 pages, 23 illustrations. Price,. 20£. United States Government Master Specifications.—-These specifications for the purchase of materials for the use of Government departments are issued as circulars of the Bureau of Standards. Those listed below by circular number may be obtained at 5 cents each: . i of publication and distribution of census pubsss the Director of the Census) No. 111. Paint, Lithopone, Interior White and Light Tints, Flat or Eggshell , Finish (Semipaste and Ready-mixed). 12 pages. NO. 139. Cells and Batteries, Dry. 10 pages. Bodies, 1926.—Denominational bulle* containing information concerning their ^gariization? and also the number and 'value of church property, debt, etc. Ohureh. 12 pages, paper, price 5$. Mission Covenant of, America. 11 Technical News Bulletin, February, 1928. ?8 pages. Contains items describing thejaboratory activities of the Bureau and a list of publications issued during the l preceding' month. Annual subscription, 250. Same, March, 1928. 44 pages. ness Statistics, Part II, Metals and ts the monthly Survey of Current Busictground of facts from earlier years current data. 59 pages, paper, price 1925, Fart I.—This report contains es/' and general tables for the deathtinental United States, with suppler awaii and the Virgin Islands. 466 BUREAU OF FISHERIES Bulletin of United States Bureau of Fisheries, vol. xliii, 1927, Part I. ii-f-366 pages, illustrations, plates, map. This volume treats of the fishes of Chesapeake Bay, giving a description of every species. Price, $1.50. Containers and Packages Used in Shipping Shucked Oysters, by Gerald Arthur Fitzgerald. Economic Circular No. 62; 16 pages, 5 illustrations. This circular gives the results of a survey of shipping practices for oysters, with recommendations fot improvements in the methods now used. Price, {#. BUREAU OF MINES 0REIGH AND DOMESTIC 0] 'tf a; may also be purchased from the bureau or its [\\ district offices) Foreign Commerce of United States, I arid II. Part I contains statistics of |ch&ndise, and imports by articles for a,n;& for 6 months ended December, /contains summaries of export and voyage import and export prices; staik&4 Hawaii, and Porto Rico. Single „ IS, 5$. Annual subscription, $1.25. Reports, Nos. 40-52, Volume 4, 30th fi% December, 1927. ii+xxvii pages. %0 arranged by subject, country, and ; Annual subscription, 20$. velopments in 1927, by William T. a(|e. commissioner. Trade InformaJH-2& pages. This bulletin shows the. =jrnianf chemical industry, agreements ik other European countries, growth of n of fertilizers,; and new processes and, i' '•, ution in Cuba, by Merwin L. Bohan, aich6. Trade Information Bulletin No. Market in Argentina.—Trade Infor$6?>ii+35 pages. This bulletin dis%txd development, the extent to which manufacture and importation ofntina. Price, 10^. States in Calendar Year 1927, by ;Gri&ce A. Witherow. Trade, Informant +44 pages, 15 charts. Price, 10tf. Concentrated Milk, by B. S. HillingsV Trade Promotion Series No. 57; study is made of the production of countries and international trade Analyses of Oklahoma Coals.—Technical Paper i l l ; vi+62 pages* 1 illustration. Price, 100. > Methods of Dealing with Paraffin Troubles Encountered in Producing Crude Oil, by C.^ B- Beistle, jr. Technical Paper ,, 414; iv-f39pagesj, 3 illustrations, 6 pageslof plates. Price, 15^. ( Electric-furnace Cast Iron, by C; E. Williams and C. E. Sims. Technical Paper 418; iv-f-48 pages, 10 illustrations. Study by Bureau of Mines in cooperation with the College of Mines of the University of Washington. Price, 10£. BUREAU OF NAVIGATION American Documented Seagoing Merchant Vessels of 500 Gross Tons and Over, February, 1928. ii+63 pages. Published monthly. Single copies, 100: annual subscription, 75£. . Merchant Marine Statistics, 1927. iv + 75 pages. Lists pf American documented vessels, showing tonnage, customs district and port in which registered, number built m United States, and number of foreign built admitted to American registry. Included are tables showing tonnage taxes collected, number and nationality of seamen on American vessels, and average monthly wages paid. There is also a table giving tonnage of vessels of different countries of the world. Price, 15$. LIGHTHOUSE SERVICE rP Light List, Great Lakes, United States and Canada, Including Fog Signals, Buoys, and Day marks, 1928 (corrected to March 1). Price, 30^. ' Light List, Pacific Coast, United States, Canada, Hawaiian and Samoan Islands,1928 (corrected to January 1). 269 pages. Price, 300. Light List, Upper Mississippi River and Tributaries, 13th Lighthouse District, 1928 (corrected to January 15). 234 pages. Price; 200. PATENT OFFICE Classification Bulletin of United States Patent Office from July 1 to December 31, 1927. No. 59; 16 pages. Price, , CHIEF FUNCTIONS OF THE DEPARTMENT OF COMMERCE HERBERT HOOVER, Secretary of Commerce WALTER F. BROWN, Assistant Secretary of Commerce. AERONAUTICS BRANCH Wii,LiAto P, MCCRACKEN, Jr., Assistant Secretary of Commerce for Aeronautics. Establishment of civil airways and maintenance of aids to air navigation; inspection and registration of aircraft and licensing of pilots; enforcement of air traffic rules; investigation of accidents; encouragement of municipal air ports; fostering of air commerce; scientific research in aeronautics; and dissemination of information relating t o commercial aeronautics. (Some of these functions are performed by special divisions of the Lighthouse Service, tne Bureau of Standards, and the Coast and Geodetic Survey.) * BUREAU OF THE CENSUS WILLIAM M. STEUART^ Director Taking censuses of population, inmates of institutions, mines and quarries, forest products, find water transportation every 10 years, censuses of agriculture and electrical public utilities every 5 years, and a census of manufactures every 2 years. Compilation of statistics* of wealth, public debt and taxation, including financial, statistics of local governments, every 10 years; annual compilation of financial statistics of State and municipal governments. Compilation of statistics of marriage, divorce, births, deaths, and penal institutions annually, and of death rates in cities and automobile accidents weekly. Compilation quarterly or monthly of statistics on cotton^ wool, tobacco, leather, and other industries; publication in t h e Survey of Current Business of monthly commercial and industrial statistics. . " ' . , , • BUREAU OF FOREIGN ANP DOMESTIC COMMERCE JuLitJS KLEIN, Director The collection of timely information concerning world market conditions and openings for American products in foreign countries> througk commercial attaches, trade commissioners, and consular oncers, and its distribution through weekjy Commerce Reports, bulletins, confidential circulars, the news and trade press, and district and cooperative offices in 65 cities. The maintenance of commodity, technical, and regional divisions to afford special service to American exporters and manufacturers. . , The compilation and distribution of lists of possible buyers and agents for American products in all parts of the world and publication of weekly lists of specific sales opportunities abroad. The publication of statistics on imports and exports. The study of the processes of domestic trade and commerce. BUREAU OF STANDARDS GEORGE K. BURGESS, Director Custody, development, and construction of standards of measurement, quality, performance, or practice; comparison of standards used by scientific or other institutions; determination of physical constants and properties of materials; researches and tests on materials and processes; and publication of scientific and technical bulletins reporting results; of researches and fundamental technical data. Preparation of specifications for Government purchases, through the Federal Specifications Board. Collection and dissemination of information concerning building codes and the planning and construction of houses. Establishment of simplified commercial practices through cooperation with business organizations in, order to reduce t h e wastes resulting from excessive variety in commodities. BUREAU OF MINES SCOTT T T O N E B , Director Technical investigations in t h e mining, p r e p a r a t i o n a n d utilization of, minerals, including t h e s t u d y of m i n e h a z a r d s a n d , safety . m e t h o d s a n d of i m p r o v e d m e t h o d s in t h e p r o d u c t i o n a n d use of minerals. / . . T e s t i n g of G o v e r n m e n t fuels a n d m a n a g e m e n t of t h e G o v e r n m e n t Fuel Y a r d a t Washington. EPHRAIM F. MORGAN, Solicitor Research on helium and operation of plants prtyj Studies in the economics and marketing of : lection of statistics on mineral resources and : The dissemination of results of technical researches in bulletins, technical papers, mii: series, miners' circulars, and miscellaneous public . <Sol- BUREAU OF FISHERIES HENRY G'MAIAEY* Commissioner ; | | 1 ii %. The propagation and distribution of food fishi \ in order to prevent the depletion of the fisheries; j to promote conservation of; fishery resources; i | ment of commercial fisheries and agriculture; stju methods, improvements in merchandising and ( ) fishery statistics; administration of Alaska fist^ seals; and the protection of sponges off the coast1 j ilfish, |tions feipp- ishery of fur BUREAU OF LIGHTHOUSM GEORGE R. PUTNAM, OomrmssioneM Maintenance of lighthouses and other aids toiij tion. Establishment and maintenance of aids)j,H along civil airways. jj Publication of Light Lists, Buoy Lists, and If ners, giving information regarding these aids to i pigafeation lari- COAST AND GEODETIC SU^ E> LESTER JONES, Director Survey of the coasts of the, United States and charts for the navigation of the adjacent wat| Alaska, the Philippine Islands, Hawaii, Porto M Islands, and the Canal Zone; interior control^ netic surveys; tide and current observations; investigations. Publication of results through charts, coast; current tables, and special publications. ion of Juding Virgin magi l etbles BUREAU OF NAVIGATION ARTHUR J. TYRER, Commissioned j Superintendence of commercial marine and i ,., r Supervision of registering, enrolling, licensifii etc., of vessels under the United States flagr ' publication of a list of such vessels. Enforcement of the navigation and steam^ laws, including imposition of fees, fines, tsonnag^M STEAMBOAT INSPECTION SEJ , DICKERSON N. HOOVER, Supervising Insj; The inspection of merchant vessels, includi] and life-saving equipment, licensing of officers < fication, of able seamen and lifeboat ^men, and tl of violations of steanibpat ipspectipn laws. hulls, certifgation UNITED STATES PATENT O$ THOMAS E. ROBERTSON, Con The granting of patents and the registration! prints, and labels after technical examination ceedings. Maintenance of library with public search copies of foreign and United States patents J Recording bills of sale, assignments, etc., rel and trade-marks. Furnishing copies of recori patents. Publication of the weekly OflScial Gazette, ents and trade-marks issued. Ling aarks. atents &g to pat- RADIO DIVISION W. iX TERRELL, Chief Inspection of radio stations on ships; insp _ tions on shore, including broadcasting stations; operators; assigning station call letters; enforcii the International Radiotelegraphic Conventiorijjl and settling international radio accounts. iio stag-radio, ferms of bnining