Full text of Survey of Current Business : April 1939
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APRIL 1939 SURVEY OF CURRENT SINESS UNITED STATES DEPARTMENT OF COMMERCE BUREAU OF FOREIGN AND DOMESTIC COMMERCE WASHINGTON VOLUME IS NUMBER 4 Professional Incomes • The estimates of income in the professional fields, as part of the Department's study of the National Income, require the collection of original basic data by the Bureau of Foreign and Domestic Commerce. The returns received in the questionnaire surveys conducted for this purpose yield interesting data with regard to incomes of the various professions. • Summary findings based on questionnaire returns received by the Department of Commerce from almost 8,000 dentists and 1,500 osteopathic physicians are presented in the article on page 7. The movements of average incomes in these professions are traced from 1929 through 1937, and data are also presented with regard to the shifts in the distribution of income. Size of income is related to type of practice, location, age, and years of practice. • Detailed statistics, together with an analysis of the data, are given in the article. Number 4 Volume 19 UNITED STATES DEPARTMENT OF COMMERCE HARRY L. HOPKINS, Secretary BUREAU OF FOREIGN AND DOMESTIC COMMERCE N. H. ENGLE, Acting Director SURVEY OF CURRENT BUSINESS APRIL 1939 A publication of the DIVISION OF BUSINESS REVIEW M. JOSEPH MEEHAN, Chief TABLE OF CONTENTS Business situation summarized Incomes of dentists and osteopathic physicians Page 3 7 CHARTS Figure 1.—Monthly business indicators, 1929-39 2 Figure 2.—Volume of manufacturing production and imports of crude materials, 1929-39 3 Figure 3.—Selected indicators of changes in industrial activity 4 Figure 4.—Commercial insolvencies, 1929-39 5 Figure 5.—Cumulative percentage distribution of dentists according to total net income by years 8 Figure 6.-—Cumulative percentage distribution of dentists according to total net income by type of practice, 1937 8 Figure 7.—Cumulative percentage distribution of dentists according to total net income by type of income recipient, 1937 9 Figure 8.—Average income of dentists by years of practice, 1937 9 Figure 9.—Cumulative percentage distribution of osteopathic physicians according to total net income by years 11 Figure 10.—Cumulative percentage distribution of osteopathic physicians according to total net income by type of practice, 1937 12 CHARTS—Continued _ Page Figure 11.—Cumulative percentage distribution of osteopathic physicians according to total net income by type of income recipient, 1937 12 STATISTICAL DATA New or revised series: Table 19. Exports by grand divisions and countries, economic classes, and commodities, revised statistics for 1937.. 14 Table 20. Imports by grand divisions and countries, economic classes, and commodities, revised statistics for 1937.. 15 Table 21. Federal debt, interest and non-interest bearing debt 1916-39, and special issues to government agencies and trust funds 1925-39 16 Table 22. Federal expenditures including recovery and relief, 1931-38 17 Table 23. Federal receipts, total, 1931-38 17 Table 24. Stock price indexes, companies producing capital goods and consumers goods, 1926-38 18 Table 25. Corporation profits, 1932-38 18 Monthly business statistics 19 General index Inside back cover Subscription price of the monthly and weekly issues of the SURVEY OF CURRENT BUSINESS is #2 a year. Single-copy price: Monthly, 15 cents; weekly, 5 cents. Foreign subscriptions, 33.50 Price of the 1938 Supplement is 40 cents. Make remittances only to Superintendent of Documents, Washington, D. C. 136180-39 1 1 SURVEY OF CURRENT BUSINESS April 1939 Monthly Business Indicators, 1929-39 INDUSTRIAL PRODUCTION 140 INCOME PAYMENTS AND CASH FARM INCOME vo LUME (1923- 25=100) 120 MONTHLY INCOME PAYMENTS ( 1 9 2 9 - 1 0 0 ) CASH FARM INCOME ( 1 9 2 4 M 9 2 9 - 1 0 0 ) 130 110 120 110 \ 100 \ 90 V 80 70 A\ j / l\ 100 •MONTHLY V /A/COME PAYMENTS 90 80 / / 70 60 V 50 'CASH INCOME FROM FARM MARKETINGS ^EXCLUSIVE OF RENTAL & BENEFIT PAYMENTS) 40 V f 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1959 1929 1930 1931 1932 CONSTRUCTION CONTRACTS AWARDED** 140 1933 1934 1935 1936 1937 1938 1939 FOREIGN TRADE * VALUE (1923-25=100) 140 VALUE (1923-2J>=ioo) 120 120 y-EX 100 80 X \ 60 °ORTS, 1NCLULING R EEXPOE TS 100 rh Gt:NERAL IMPOf 80 ^ 60 A 40 40 Vr 20 20 0 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1929 FACTORY EMPLOYMENT AND PAYROLLS 140 120 80 [I 1933 1934 1935 \ /"V 1937 1938 1939 1 110 j 100 sV "^ 90 1 i V J" 20 1936 LIVING ^FACTORY PAYROLLS (UNADJUSTED) 40 1932 WHOLESALE PRICES AND COST OF LIVING i ^k. FACTORY EMPLOYMlzNT-^ iSsJ (ADJUSTED) 60 1931 (1923-25=100) (1923-25* 100 ) 100 1930 80 .A ~\ 70 WHOLESALE P 60 50 1 0 1929 1930 1931 1932 1933 1934 1935 RETAIL SALES 175 1936 1937 1938 1939 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 STOCK PRICES #• 350 AUTOMOBILE SALES (l929~31»100) DEPARTMENT STORE SALES (1923-25=100) 150 300 125 250 100 200 75 150 50 100 25 50 NEW PASSENGER AUTOMOBILE SALES 0 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1929 * A D J U S T E D FOR S E A S O N A L VARIATION Figure 1. • 1930 1931 1932 1933 1934 1935 1936 THREE-MONTH MOVING AVERAGE 1937 1938 1939 SUEVEY OF CURKENT BUSINESS April 1939 Business Situation Summarized activity during March showed little variBUSINESS ation from the February level. The general situation was characterized by minor fluctuations on the plateau reached following the upswing during the latter half of 1938. Seasonally corrected indicators of industrial activity have moved lower during the first quarter, reflecting in the main an absence of the seasonal rise for which allowance is made at this period. National income payments have also declined slightly on a seasonally corrected basis. During March, seasonal gains occurred in some of the manufacturing industries, in retail trade, and in construction operations. The figures for private residential construction contracts awarded indicate a relatively favorable trend in this area; the volume of contracts for public projects has receded further from the temporarily high rate attained at the end of last year. Contracts placed to date, however, will afford a strong impetus to the building industry in the second quarter. With the midmonth crisis in Europe, stock prices turned downward and by the end of March the "averages" had dropped to a 1939 low. Commodity prices held steady throughout the month, with purchasing generally on a cautious basis. New orders show improvement over the figures of a year ago in line with the larger volume of consumption. Programs of private capital expansion have not been initiated on a large scale, though there have been evidences of increased outlays in some areas. New capital raised through the flotations of new issues has remained small, and there has been no material expansion in commercial loans. In February, the independent stores reporting to the Department showed a 3-percent gain over February a year ago. Wholesale trade, according to sample reports from more than 3,000 concerns, was up 4 percent in dollar volume from February 1938. This was approximately the same margin of gain from last year as that recorded in January. Changes from a year ago for individual lines varied widely, with the largest relative increases reported for chemicals, electrical goods, industrial supplies, and jewelry and optical goods. Monthly Income Payments. The general stability of business activity and prices in recent months has been mirrored in the relatively even movement of income payments. Income payments for February were 2 percent larger than last year in dollar volume, In terms of purchasing power, this increase was relatively larger since the cost of living is lower today than a year ago. 19 23-25=100 150 \ K 125 '' \ ^ V\ 100 1 PORTS OFCRO0£ MATERIALS-^ t \ A " • \ / 75 V Consumer Purchasing Steady. Retail trade in March expanded in the usual seasonal move and sales were substantially higher than a year ago. The volume of general merchandise sales, that is, dollar sales adjusted for price changes, has been as high recently as in the early part of 1937. Sales of automobiles and like products, which require a large initial outlay and/or the assumption of an installment contract, are still below the level reached at that time, though showing a marked advance as compared with the early months of last year. Deliveries of new passenger cars in February were almost 40 percent higher than in 1938 and early reports for March indicate a larger margin of gain. Department store sales in the 4 weeks ended March 25 were 4 percent higher than a year earlier as compared with a 2 percent reduction in February. However, the earlier Easter season this year is a factor in the year-to-year advance. Sales of general merchandise in small towns and rural areas have made a better comparative showing than department store trade. . r' iX V MANUFACTUR ING -PRODUCT! 01" • 50 0 f , •, 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 - - .1 1939 1 D D. 9991 Figure 2.—Indexes of the Volume of Manufacturing Production and of the Quantity of Crude Materials Imported, by Quarters, 1929-39 (Production, Board of Governors of the Federal Reserve System; Imports, Bureau of Foreign and Domestic Commerce). NOTE.—The import index is based on general imports through 1933 and imports for consumption thereafter; first quarter of 1939 is partly estimated. The indexes are not adjusted for seasonal variations. Cash farm income in February receded on a seasonally adjusted basis reflecting in part the heavy movement of 1938 crops into loan stocks during previous months. The placing of large quantities of staple commodities under Government loan during the fourth quarter of 1938 has reduced the supplies which normally would have been sold this year. The Department of Agriculture states that it is probable that income from marketings will not decline more than seasonally during March and April. Payments for work relief and unemployment compensation benefits have remained relatively high in SURVEY OF CURRENT BUSINESS RELATIVES, JAN.fr FEB. 1929 =100 I 50 125 I••=1937 M - I 50 1 W/. 25 0 •1 Wy L 1 PREPARED ROOFING SHIPMENTS r^ ^\ ^ \ ^• i i I—1 i / ^ W/ W/, 1 50 125 _ 100 - 75 - 50 - 25 0 EXPLOSIVES SHIPMENTS 150 75 50 • • i—» 25 •• my. 0 1 I i—| • ft? 1 •1 •1 W/, FOUNDRY STEEL PIG IRON EQUIPMENT INGOT PRODUCTION ORDERS PRODUCTION 1 1 •^ • 1 MACHINE TOOL ORDERS 1 1 •^ - 125 - 100 - 75 50 — - 25 0 LEAD ZINC PRODUCTION PRODUCTION 150 - 10 0 mm 75 H 1 W/. Wy CIGARETTES* 15 0 12 5 1 75 50 W iKTAX-PA/D W/. ELECTRIC / ; A C A | IMC UM^ULI iMt POWER DQnni iPTinKi rnUl/UU 1 IVJIN PRODUCTION •1 100 1 1 1 11 11 I M | 50 0 PAINT+ SALES+ 1 - I 00 - 25 M 1 1 P 1 1 1 1 CEMENT LUMBER PLATE GLASS PRODUCTION PRODUCTION PRODUCTION 25 0 CZZH939 i— 75 15 0 1 25 ESN S38 SILK COTTON WOOL HOSIERY BOOT&SHOE RUBBER CONSUMPTION DELIVERIES CONSUMPTION S H I P M E N T S PRODUCTION CONSUMPTION — 10 0 1 50 125 April 1939 IW/ WITHDRAWALS I IWy WA Imy - 125 - 100 - 75 - 50 - 25 0 AUTOBITUMINOUS ANTHRACITE COAL COAL MOBILE PRODUCTION PRODUCTION P R O D U C T I O N • 1 1 mZ I w Wy % MAN UFA CTU&ERS' SALES 1 1 W/. - 150 125 - 100 - 75 50 - 25 0 AD 9990 Figure 3.—Selected Indicators of Changes in Industrial Activity, January and February Totals Compared with January and February 1929. NOTE.—February 1939 estimated for some items. April 1939 SURVEY OF CURRENT BUSINESS recent months. The volume of nonagricultural employment was little changed from mid-January to mid-February. The February total was only slightly larger than a year ago, but those at work received larger incomes. Compensation of employees this year was almost 5 percent higher than in February 1938. Industrial Operations Little Changed. Seasonal improvement was evident in a number of manufacturing industries during March, and preliminary data indicate that the seasonally adjusted volume of production was but little changed from that in February. The Federal Reserve adjusted index of industrial production for February was 98 (1923-25—100) as compared with 101 in January and 104 for December. Automobile assemblies were stepped up in March to meet the seasonal expansion in sales, though the advance was less than usual. Automobile dealers have been supplied with large stocks of new passenger cars; during January and February there was an apparent increase of some 140,000 units in field stocks. Consequently, assemblies are expected to be held to close alinement with sales. In the steel industry, the production of ingots averaged about 56 percent of capacity as compared with 54 percent in February; this gain was below seasonal expectations. There was apparently little change in steel purchasing during the month. Other industrial data for March do not indicate marked changes from February though operations in a number of lines experienced a seasonal acceleration. While the expansion in manufacturing production has not been carried forward into the early months of 1939, aggregate manufacturing output during the first quarter of this year was the largest for this period of any year since 1930—except 1937. Compared with the first quarter of 1938 the volume of manufacturing production increased nearly one-third, though remaining about one-sixth smaller than in the first quarter of 1937 when output was close to the 1929 level. Production of durable goods was much larger than in 1938, though onefourth less than in the comparable period of 1937; the aggregate was one-third lower than in 1929. Output of nondurable goods so far this year has averaged only 7 percent less than in the early months of 1937 and 1929. Indications of the comparative rate of operations in a number of the major manufacturing industries may be observed in Figure 3. In this chart, data for the initial 2 months of 1937, 1938, and 1939, have been expressed as a percentage of the totals for January and February 1929. It will be observed that activity in several of the nondurable goods industries was higher than in 1929. Factory consumption of rubber and wool, hosiery shipments, and the production of boots and shoes, gasoline, and cigarettes were all at a higher rate in January and February of this year than in 1929. In the industries whose operations are closely related to the volume of construction, the 1929 level of activity in general was not attained in 1937 and, moreover, the rate of operations this year has not come up to the 1937 level. In other heavy industries the rate of operations this year also has been lower than in 1937. Automobile production for the 2 months was within 14 percent of the output in 1937—this comparison, however, does not give a picture of the relative position because labor disputes reduced the output in the earlier period below what it would otherwise have been. Foreign Trade Movements. The larger volume of manufacturing production in recent months has increased domestic requirements for crude materials produced abroad. Figure 2 reveals the correspondence between changes in manufacturing production and the importation of crude materials. The quarterly data plotted on this chart (with the first quarter of 1939 partly estimated) show a substantial rise ANNUAL RATE OF FAILURES, PER 10,000 ENTERPRISES 1 75 V i o e /I {-Seel Vote 1 \ 1 y 1 ftrt \ \ 75 , A ?! \ \ 50 25 0 U929 1930 1931 1932 1933 1934 1935 1936 193711938 I939J c•O 9993 Figure 4.—Commercial Insolvencies, 1929-39 (Dun and Bradstreet, Inc.). NOTE—The insolvency index is the ratio of actual failures to firms in business expressed as an annual rate for each 10,000 commercial enterprises. The index is adjusted for the number of working days in the month and for seasonal variations. Beginning with January 1933 the data are not strictly comparable with the earlier figures owing to the exclusion of real estate and insurance brokers, holding and finance companies, shipping agents, tourist companies, transportation terminals, amusement places, from the failure record. The 1933 annual average on the old basis is 102.6 and on the new basis is 100.3. in imports of crude materials since the second quarter of 1938. For the past 6 months the quantity of crude materials imported has averaged about one-fourth more than in the second quarter of 1938 though remaining one-third smaller than in the first half of 1937. The rise in imports of crude materials has been a major factor in the increase in import trade since the second quarter of 1938, although imports of finished manufactured goods have also tended upward in response to the betterment in domestic purchasing power. After having moved upward at a fairly steady rate since last summer to reach a figure, in January, 4 percent above the total in the corresponding month of 1938, total imports of merchandise decreased during February. Compared wath February 1938, imports were 3 percent lower in value. 6 SURVEY OF CURRENT BUSINESS Export trade in February was marked by a change that differed from the general downward movement of recent months. The value of exports increased contraseasonally from January, though the total was 17 percent less than in February of last year. Exports exceeded merchandise imports by 61 million dollars in February, as compared with 35 million dollars in January and the abnormally large monthly average of around 100 million dollars in the early months of last year. The advance in export trade as compared with January resulted mainly from heavier shipments of automobiles, aircraft, metal-working machinery, and unmanufactured tobacco. Security Price Movements Irregular. The dismemberment of Czechoslovakia in the third week of March was accompanied by declining quotations on domestic and foreign security markets, by a heavy movement of capital from Europe, and by unsettled foreign exchanges. The disappearance of the Czechoslovakian State resulted in a precipitous drop in quotations of its external bonds. Dollar bonds of other central and north European countries also experienced sizable price declines. On the London market, prices of industrial shares declined after the first week of March, and most of the substantial rise in the preceding 5 weeks was canceled. Foreign funds flowed to New York at an accelerated rate. Despite the tension abroad and the flight of funds from Europe, spot quotations for the leading April 1939 European currencies in New York were held within relatively narrow limits, but the pressuie on forward rates resulted in widening discounts in terms of the dollar. In the fourth week of March the monetary gold stock of the United States moved above 15 billion dollars. On the New York market, securities of domestic corporations recorded sharp price declines after midMarch and the sizable gains of the 3 preceding weeks were erased. The Dow-Jones' average of industrial shares fell from 151 on March 14 to 141 a week later, and by the end of the month was down to 132. Improvement in general business conditions over the past 9 months, with the concomitant improvement in collections and general financial conditions, finds reflection in the decline in the number of business failure? The trend of failures, according to the seasonally corrected data charted in Figure 4, has turned downward in recent months reversing the tendency in evidence after the third quarter of 1937. So far this year, the number of commercial failures as reported by Dun & Bradstreet, Inc., has been about 10 percent smaller than in the first quarter of last year. Failures were, however, much more numerous than in the early months of 1937. The index of commercial failures reveals the general tendency of this curve to move inversely with the curve of general business, but also that the 1937-38 rise was a comparatively minor movement when compared with the situation following tho 1929 collapse. MONTHLY BUSINESS INDEXES Monthly income payments Factory employment and pay rolls Cash farm income 2 Industrial production, adjusted 1 Freight-car Retail sales, Foreign trade, loadings, value, advalue, adjusted 1 justed i adjusted ] Total payments I! 5? Year and m o n t h C-3 It it Monthly average 1929 = 100 1929: February 1933: February 1934: February 1935: February 1936: February 1937: February 1938: January February March April May June July August September October November December 1939: January February 8 Monthly av- Monthly average 1923erage 192425 = 100 29 = 100 105.0 110.8 85.5 101.0 41.4 65.0 30. 5 37.0 62.9 83.9 54.0 45.5 90.0 72.6 47.5 56. 5 92.8 76. 6 53.0 63. 0 99.7 106.0 59.5 70.5 79. 2 98.2 56.9 65.5 69. 6 75.9 86.4 97.7 55.7 66.3 69.8 77.4 87.2 83.7 76.0 81.4 81.6 76.7 82.3 81.0 76.1 83.5 86.3 80.9 90.9 83.5 82.6 82.7 81.4 80.4 80.7 80.7 81. 5 82 0 82.3 83.5 84.4 82.4 81.4 81.0 80.1 79.5 79.4 79.8 81.4 82.5 83.1 84.5 86.2 90.0 88.9 87.4 85.4 83.7 82.4 82.9 84.9 86.9 87.5 90.0 91.6 75.0 76.9 77.1 74.6 72.9 70.8 70.6 76.9 81.0 83.8 84. 1 86.6 71.5 54.0 60.5 58. 0 60.5 61.0 72.0 72.5 85. 0 91.5 78.0 72.5 69. 5 62. 5 67.0 70.5 67. 5 72.0 82.5 72.0 72.5 67.5 69.5 68.0 84.1 77.7 84.2 83.9 85.5 85.0 91.7 91.3 83.2 85.3 68.5 51.0 67. 5 60.0 93. 3 53. 8 62. 8 06. 2 H © es 3 8 i Adjusted for seasonal variations. 192931 = 100 Monthly average 1923-25 = 100 118 63 81 90 94 116 118 61 80 88 92 116 119 80 92 97 111 116 109 52 65 66 71 82 104 66 67 65 62 68 110 62 73 77 83 95 136. 5 33.0 54. 5 86.5 89.5 139. 5 80 108 103 103 101 91 92 93 95 97 99 102 109 65 62 60 57 58 58 61 62 64 68 69 69 61 62 61 60 60 59 60 60 61 62 61 61 90 104 76 75 75 73 73 74 82 87 89 95 103 104 88 86 83 78 82 83 83 86 84 89 89 65.0 74.0 61.0 60.0 57.0 50.5 56.5 54.5 60.0 85.0 100.0 92.5 101 98 100 97 110 109 69 67 62 62 88 87 91.0 98.5 79 79 77 76 77 83 88 91 96 103 * From farm marketings. Monthly Monthly average average 1923-25 = 100 1926 = 100 95.4 I2S 116 118 124. 1 29 19 52.7 26 59.8 47 44 59.7 42 73.6 66.5 47 79.5 48 28 79.9 53 80. 6 52 60 89.4 86.3 67 62 87 75 76 72 76 72 69 68 66 62 60 58 52 51 48 46 45 47 47 53 55 54 55 67 54 55 63 55 49 52 51 46 52 51 54 59 66 78 82 96 96 89.3 74.2 88.1 84.1 81.2 87.0 84.5 81.2 83.3 91.7 86.1 106.7 80.9 79.8 79.7 78.7 78.1 78.3 78.8 78.1 78.3 77.6 77.5 77.0 86 90.3 76.9 76 76.6 76.9 SURVEY OF CURRENT BUSINESS April 1939 Incomes of Dentists and Osteopathic Physicians By HERMAN LASKEN, National Income Section, Division of Economic Research T HIS article presents in summary form the results of a Nation-wide survey * of the incomes of practicing dentists and osteopathic physicians conducted by the National Income Section of the Bureau of Foreign and Domestic Commerce with the cooperation of the American Dental Association and the American Osteopathic Association and the assistance of the Works Progress Administration. The complete survey will contain additional data, including comparisons of average income by type of income, type of practice, and education. Cross-tabulations of income by years and employment and pay of professional and nonprofessional employees of independent practitioners will also be presented. 1 Questionnaires were addressed to 71,692 dentists, of whom 43,711 were members of the American Dental Association. The addresses of dentists who were not members of the association were obtained from sources approved by the American Dental Association. Usable returns were received from 6,163 members of the association and 1,800 nonmembers. Questionnaires were addressed to 9,143 osteopathic physicians, of whom 5,205 were members of the American Osteopathic Association. The entire mailing list was provided by the association. Usable returns were received from 1,072 members of the association and 400 nonmembers. The various measures presented in this article have been weighted to take account of the different proportions of returns from members and nonmembers of the associations. However, the figures presented in the tables as the "number in sample" for the various categories are simply the aggregate number of returns received from both members and nonmembers of the associations. The methods used in making the combinations of returns from association members and nonmembers will be presented in a more detailed report to be published in the near future. The income data presented refer exclusively to income from professional services, including income from independent practice and from salaried employment in professional work, and excluding earnings from other sources, as well as dividends, interest, and other property income. Except where otherwise indicated, the term "income" refers to net income from professional services only. Incomes of Dentists The average net income from professional services, including professional salaries, of practicing dentists in the United States in 1937 was $2,914. This compares with averages of $4,273 in 1929 and $2,251 in 1933. The corresponding medians, representing the income levels above and below which an equal number of cases occur, are shown in table 1 to be $2,485 in 1937, $3,676 in 1929, and $1,880 in 1933. The extent of variation among incomes of different members of the profession, as well as differences in the distributions themselves from year to year, are shown in table 1 and figure 5. The differences between the averages and the corresponding medians reflect the existence of a number of high incomes. These high incomes have a marked effect on the averages, but have little effect on the medians, so that an excess of the Table 1.—Cumulative Percentage Distribution of Dentists According to Total Net Income from Professional Services By years 1929 Percentage of total reporting net income of less than: $0 1933 1935 By type of income recipient, 1937 By type of practice, 1937 Item 1930 1937 General Partly specialized Wholly specialized Nonsalaried Part salaried 100 percent salaried 0.4 1.6 1.3 1. 1 1.0 1.0 1.5 1.2 1.1 0.4 0.0 2.2 5.1 10.2 18.6 37.5 6.9 20.3 37.1 53.6 66.8 76.7 6.1 15.5 30.4 45.2 59. 1 69.9 5.2 13.9 25.9 39.9 53.5 64.6 4.5 13.0 24.9 37.1 50.4 61.8 4.6 13.4 21.5 38.0 51.5 63.2 3.8 9.5 17.6 28.1 39.5 49.8 2.0 5.2 8.8 13.8 22.3 28. 1 4.7 13.5 25.6 37.9 51.0 62.4 2.8 9.1 20.1 33.0 44.8 56.2 1.2 10.0 17.6 38. 1 50.4 56.0 70.6 80.6 86.6 90.4 93.4 95.2 88.5 93.5 96. 1 97.6 98.5 99.0 99.4 84.6 91.4 95.1 97. 1 98. 1 98.9 99.3 80.4 88. 9 93.3 96.0 97. 6 98.5 99.0 78. 1 87.2 92. 1 95.2 97.0 98.1 98.7 79.6 88.7 93.3 96.1 97.7 98.7 99. 1 65.5 75.3 81.9 89.8 92.1 94.7 96.3 41.5 58.9 66.9 74.3 79.9 86.0 90.0 78.5 87.3 92.2 95.4 97. 1 98.2 71.9 84.0 89.0 92.2 93.4 95.9 96.8 76.6 89.4 94.1 96.6 98.4 98.4 98.8 $20,000... 99.6 i 100. 0 99.9 99.9 99.9 99.9 100. 0 98.4 100.0 $50,000- 100.0 100. 0 100.0 100.0 100.0 100.0 $4, 273 $3, 676 $2, 251 $1, 880 $2, 546 $2,173 $2, 769 $2, 371 $2, 914 $2, 485 4,967 6,185 7, 028 7, 455 7, 963 $2, 809 $2, 444 91.6 6,876 $500-... $1,000. _ $l,500._. $2,000—. $2,500. _, $3,000... $4,000__ $5,000-_ $6,000 $7,000.. $8,000$9,000.. $10,000- Average income Median income Percent of total Number in sample.. 1 Less than ^ o of 1 percent of the returns reported $20,000 or more. $3, 671 $3, 011 5.9 472 99.9 99.6 100.0 100.0 100.0 $5, 451 $4, 489 2.5 231 $2, 883 $1, 962 92.5 7,345 $3, 386 $2, 228 4.8 388 $3,178 $2, 484 230 SURVEY OF CURRENT BUSINESS averages over the medians may be taken as a general indication of the extent to which high incomes occur in excess of correspondingly low incomes. The depression's effect on incomes in dentistry may be noted from table 1, which shows that less than one-fifth of the returns reported incomes of less than $2,000 in 1929, while more than half were below that level in 1933, and 37 percent were still below that level in 1937. Whereas only 5 percent reported incomes below $1,000 in 1929, 20 percent were below that figure in 1933. Considering the higher levels of income, only 6.5 percent of the total reported incomes in excess of $5,000 in 1933, as compared with almost 30 percent in 1929. Incomes in excess of $10,000 were reported by only six-tenths of 1 percent in 1933, as compared with almost 5 percent in 1929. in ••< , — > .—1935- ^-193 7 A" ''// / if y 1933—- ^-—1929 / Iff' / ill ,/ / I.OOO 2,000 3,000 4-.000 5,000 6,000 7,000 8.OOO April 1939 one-fifth of the general practitioners had incomes of less than $1,500 in 1937, less than one-tenth of the wholly specialized dentists reported incomes below that level. More than half of the dentists reporting a general practice had incomes below $2,500 as compared with two-fifths and one-fifth of the partly and wholly specialized dentists, respectively, whose incomes fell below that level. While 25 percent of the wholly specialized and 10 percent of the partly specialized dentists reported incomes in excess of $7,000, less than 4 percent of the general practitioners reported incomes over $7,000. Less than 1 percent of the general practitioners, as compared with 3.7 percent of the partly specialized and 10 percent of the wholly specialized dentists, reported incomes of $10,000 or more. Data showing the extent to which these differences are occasioned by the greater proportion of new entrants to the profession going into general practice will be presented in a final release. A consideration of the 90-percent level in figure 6 shows that the lower limit of income of the upper 10 percent was $10,000, $7,100, and $5,300 in 1937 for the wholly specialized, partly specialized, and general practitioners, respectively. The more favorable position of the specializing; groups, evidenced generally by the lower position of the curves, is brought out rather sharply at the 30-percent level, with that percentage of the general practitioners receiving an income of less than $1,750, as compared with more than $2,000 for the partial specialists and over $3,100 for the wholly specialized dentists. 9,000 10,000 NET INCOME IN DOLLARS o c ~— o o / " y S^PARTL Y SPECIALS 1 o o ' / / / / / V / 1/ / / o cENERAL- / WHOLLY ECIALIZB _ J o o / o The upper level of income of the lower 10 percent of returns fell from $1,500 in 1929 to almost $600 in 1933, and rose again to over $800 in 1937 (see fig. 5). The upper 10 percent of the returns showed a minimum income of $7,900 in 1929, of $4,300 in 1933, and of $5,500 in 1937. A similar consideration of the lower and upper 25-percent levels shows that the top income of the dentists in the lower quarter fell from $2,350 in 1929 to $1,150 in 1933, while the bottom income of the upper quarter declined from $5,450 to almost $2,900 during the corresponding years. The distribution of returns by type of practice shows that the 2.5 percent of the practicing dentists who were wholly specialized received an average income of $5,451 in 1937, which was almost 50 percent more than the average income reported by the 5.9 percent of dentists who were partly specialized, and almost double that of the general practitioners who represent 91.6 percent of the total number of active dentists. The relatively higher incomes of the partly and wholly specialized dentists are evident from a consideration of the distribution of returns by size of income. Whereas more than PERCENT REPORTING LESS THAN SPECIFIED AMOUNTS o Figure 5.—Cumulative Percentage Distribution of Dentists According to Total Net Income, by Years. 0 1,000 2,000 3,000 4,000 NET 5,000 6,000 7,000 8,000 9,000 10,000 NCOME IN DOLLARS 009969 Figure 6.—Cumulative Percentage Distribution of Dentists According to Total Net Income, by Type of Practice, 1937. The distribution by type of income recipient shows that the spread of incomes among the 100-percentsalaried dentists was less than that of either the partsalaried or nonsalaried dentists. While the average income of the wholly salaried group was less than that of the part-salaried group, the median was higher. More than 13 percent of the wholly independent practitioners reported incomes below $1,000, as compared 9 SUKVEY OF CURRENT BUSINESS April 1939 with less than 10 percent of the part-salaried and only slightly more than 1 percent of the dentists who worked exclusively for a salary. An income of less than $1,500 was reported by one-fourth of the nonsalaried, one-fifth of the part-salaried, and one-tenth of the 100-percentsalaried dentists. While the wholly salaried dentists reported a relatively small number in the very low classes of income, they did not report any incomes age incomes of those dentists reported employed. Although the average income of the 100-percent-salaried dentists was the lowest of the three groups considered in 1929, the drop in the average for nonsalaried dentists was such as to place them in the lowest position Table 3.—Average Income and Percentage Distribution of Dentists, by Years of Practice and by Age, 1937 Percent of total Number in sample Item Average income Item Number in sample Percent of total 93 1.2 $1,139 105 119 202 1.5 1.5 2.7 1,368 1,682 1,794 Average income 00 - ^ (B) AGE (A) YEARS OF PRACTICE 90 24 and under 1 and under 80 ART-SALA R/ED 2 3 4 5 6 _ 7 70 A/6 N-SALAR / / 60 // 50 /// /f A' ! 40 ^-/oo % // 20 10 0 / / i '' / / / 1,000 269 234 252 209 183 206 _ _ 10-14 15-19 20-24 25-29 30-34 35-39 40-44 3,000 4,000 5,000 Figure 7.—Cumulative Percentage Distribution of Dentists According to Total Net Income, by Type of Income Recipient, 1937. above $20,000, as did the nonsalaried and part-salaried groups. The 100-percent-salaried dentists reported the smallest percentages of total at all income levels below $3,000 and at all income levels above $5,000, indicating a higher concentration of numbers at thecentral values. Table 2.—Average Income and Percentage Distribution of Dentists, by Type of Income Recipient, by Years Type of income recipient Total Average income: 1929 1933 1935 1936 . 1937 [ndex of average income (1929=100): 1929 1933 1935 1936 _ 1937 Percentage of total number: 1929 1933 1935 1936 1937 N u m b e r in sample: 1929 1933 _ . 1935 1936 1937 3.6 3.1 3.4 2.7 2.4 2.6 1,770 1,984 2,276 2,394 2,865 3,142 452 6.2 3,183 16 9 14. S 12.7 7.9 7.3 2.8 3, 503 3,473 3,371 3,119 2,629 2,412 2,128 117 1.7 1,731 25 26 27._ _ . 28-29 30-34 35-39. 40-44 45-49 50-54 55-59 60-64 __ 65-69 . . 70 and over 467 6.3 2,179 1,141 1,130 1,176 893 625 600 502 269 15.2 14.7 15.8 11.9 8.6 8.2 6.9 3 8 3, 030 3, 658 3,477 3, 392 2, 967 2,639 2,270 1, 835 118 1.7 1, 448 6,000 NET INCOME IN DOLLARS Item and year $1,160 1,271 1,097 935 600 577 532 202 45 and over 2,000 3.5 251 8-9 SALARIEL A 30 _. Nonsalaried Part salaried 100 percent salaried $4,273 2,251 2,546 2,769 2,914 $4,267 2,188 2,485 2,726 2,883 $5, 404 3,235 3,651 3,593 3.386 $3, 589 2,937 2,950 2,981 3,178 100.0 52 7 59.6 64.8 68.2 100.0 51.3 58.2 63.9 67.6 100.0 59.9 67.6 66.5 62.7 100.0 81.8 82.2 83. 1 88.5 100.0 100.0 100.0 100.6 100.0 93.3 93.0 92.8 92.9 92.5 2.8 3,5 3.9 4. 1 4.8 3.9 3.5 3.3 3.0 2.7 4,967 6,185 7,028 7,455 7,963 4,622 5,730 6,511 6,907 7,345 144 224 272 313 388 201 231 245 235 230 for all the other years studied. While the part-salaried dentists maintained the highest average in all years under consideration, the degree to which their income exceeded that of the other two groups diminished during the last 2 years. No definite statement can be made as to the cause of that decline, but it is highly probable that it was the result of the combination of a shift of dentists, as evidenced by the percentages of total, from both of the other two groups and of the greater proportion of new members of the profession going into part-salaried employment. AVERAGE INCOME IN DOLLARS 4,000 y 3,000 — — 1 / M 16-2 3 4 5 6 7 8-9 10-14 UNDER 15-19 20-24 25-29 YEARS OF PRACTICE 30-34 40-44 45 AND OVER Figure 8.—Average Income of Dentists, by Years of Practice, 1937. The data presented in table 2 show that the average income of dentists employed either in part or in whole in salaried work did not fall so low during the depression, either absolutely or in relative terms, as did that of the nonsalaried practitioners. However, no data are available to show the incidence of unemployment on salaried dentists, the figures being simply the aver- 136180—39 2 Average incomes show a rapid increase during the first 7 years of practice, then level off to a maximum during the second decade of practice and decline slowly thereafter (see table 3 andfig.8). The data indicate that during the period from the seventh to the twentyninth years of practice average incomes exceed the average for the profession as a whole. The averages shown 10 SURVEY OF CURRENT BUSINESS April 1939 in section (B) of this table follow a pattern similar to that above, passing the average of the profession at 30 years of age, continuing upward until the late thirties, falling below the profession average at about 55, and continuing to decline thereafter. Such differences as occur between the two sections of the table are occasioned by differences in the entrance age of the various members of the profession. A definite tendency toward salaried work by the newer entrants into the dental profession is evidenced by the data shown in table 4, which relate type of income received to years of practice. Although certain irregularities occur in the pattern of the data, there is distinct evidence that the proportion of dentists in sal- tion of incomes placed this region second in terms of the median income reported. While data with regard to average income by size of place will not be available until the final report is released, it may be noted that the average incomes for States within the various regions tend to be highest in the States with the greater Table 4.—Percentage Distribution of Dentists According to Type of Income Recipient, by Years of Practice, 1937 Middle Atlantic . New York New Jersey _. Pennsylvania. Percentage of total Years of practice Number in s a m p l e Total salaNonsalaried Part ried 100 percent salaried 1 and under 251 100.0 81.2 13.7 5.1 2 269 234 252 209 183 206 100.0 100.0 100.0 100.0 100.0 100.0 86.4 85.6 87.6 87.5 89.6 90.4 8.7 9.6 7.9 9.4 8.7 6.7 4.9 4.8 4.5 3.1 1.7 2 9 3 . 4 5 6 _ 7 _ 8-9 10-14 15-19 20-24. 25-29 30-34 35-39 40-44 45 and over _ . 452 100.0 87. 5 7.6 4 9 1,271 1,097 935 600 577 532 202 100.0 100.0 100.0 100.0 100.0 100.0 100.0 92.5 94.6 94.0 94.4 96.8 97.8 96.4 4.9 4.2 3.4 3.6 1.7 1.3 3.2 2.6 1.2 2.6 2.0 1.5 .9 .4 117 100.0 96.7 2.0 1.3 aried positions is greatest among those who have entered the profession during more recent years. A possible explanation of the relatively high percentage in partsalaried work in the group with 1 year or less of practice is that a number of these dentists may have been in salaried work with dental schools during the first half of the year and then entered independent practice, thus showing both types of income during the year, although not necessarily receiving them simultaneously. The sudden jumps in the percentages for the salaried classifications in the group with 8 to 9 years of practice may perhaps be explainable on the basis that those men who took salaried positions in 1928 and 1929 (thus showing 8 to 9 years of practice in 1937) tended to hold their positions through the depression rather than attempt to go into independent practice. Highest average and median incomes were reported by dentists in the Pacific States (see table 5). The Middle Atlantic group reported average incomes almost equal to those of the Pacific group, but their median income ranked fourth among the geographic divisions, indicating a higher dispersion of individual incomes in that group of States. New England dentists ranked fourth in average income, but the more uniform distribu Table 5.—Average and Median Net Income of Dentists, by Geographic Divisions and by Selected States, 1937 Geographic division or State Number in sample Net income from professional services Average New England Massachusetts Other - . . 519 277 242 $3,155 _- . . 3,212 3,090 $2, 722 2, 640 2,806 - 2,042 1,121 313 608 3, 209 3 393 3,159 2,844 2, 6yO 2 821 2,522 2,419 1,844 435 187 617 329 276 2,818 2,908 2, 541 2,752 3,291 2,491 2,476 2,575 2,309 2,366 3,105 2,187 1,166 321 226 281 338 2,240 2, 688 2,257 1,932 2,111 1,981 2,497 1,982 1,679 1,899 467 57 73 125 212 3,158 3,527 2,431 3,609 3,043 2,716 3,348 2,184 2,970 2,600 208 2,496 2,268 369 203 166 2,768 3,030 2,364 2,476 2,749 2,009 . _ East North Central Ohio Indiana . Illinois Michigan Wisconsin _ . _-_ . West North Central Minnesota Iowa Missouri . _ Other _ South Atlantic District of Columbia. . North and South Carolina Georgia and Florida __ _. Other East South Central West South Central Texas Other - ___ -. Mountain Pacific _ Washington Oregon California Median . . . _ _ 263 2,642 2,324 986 180 102 704 3,214 2,633 2,410 3,426 2,777 2,492 2,332 2,950 proportions of urban population. Thus, Massachusetts has an average income higher than that of the rest of the New England States, and New York and California each lead their respective regions in average income received. States for which averages are shown were selected on the basis of the size of the sample for the State and the difference between the State and regional averages. While the samples for some of the States shown may be too small to warrant definite statements as to the absolute levels of income, the direction of the difference between their averages and those of the regions may be taken as significant. Thus, whereas the average of $3,609 reported for Georgia and Florida may be too high, being based on only 125 returns, there can be little doubt that their relative position in the South Atlantic region is above the average for the region as a whole. Independent practicing dentists retained 56 percent of their gross income as net income in 1937 (see table 6). The effects of the fixed costs of practice (such as rent, and depreciation on equipment) can be seen from the low ratios of net income to gross income in the lower income brackets. Thus, the dentists reporting gross incomes of less than $500 showed an average net loss for the year; those whose gross incomes were between $500 and $999 showed an average ratio of net to gross of about one-third. There is a further sharp increase Table 6.—Ratio of Net Income to Gross Income, by Gross Income Groups, Nonsalaried Dentists, 1937 Gross income Total Num- Ratio of net ber in income to sample income 6, 935 45 101 262 374 459 516 $0-$499 $500-$999 $l,000-$l,499_ $l,500-$l,999 $2,000-$2,499 $2,500-$2,999 $3,000-$3,999 $4,000-$4,999 11 SURVEY OF CURRENT BUSINESS April 1939 0. 56 (i) 33 . 50 .54 .57 .58 .59 .59 1,145 966 Num- Ratio of net ber in income to gross sample income Gross income $5,000-$5,999 $6,000-$G.999 $7 ()nn $7 QOQ $g 000-$8 999 $9,000-$9,999 752 631 445 332 220 0 57 .57 56 56 .57 $10,000-$14,999 $15,000-$19,999 $20,000-$24,999 511 114 36 .58 .56 .52 $25,000 and over... responding medians, representing the income levels above and below which an equal number of cases occur, are shown in table 7 to be $2,037 in 1937, $3,067 in 1929, and $1,521 in 1933. The extent of variation among incomes of different members of the profession, as well as differences in the distributions themselves, from year to year, among different types of practitioners and among different types of income recipients, are shown in table 7 and in PERCENT REPORTING LESS THAN SPECIFIED AMOUNTS IOO .—• 90 ^-" 80 "TV 70 \ 60 20 50 * Net income negative. 0.46, exclusive of one return. Because of the small size of the sample in this group, the inclusion of this return, the validity of which appears doubtful, lowers the ratio • Jit / 40 2 30 to 0.24. 20 ¥V ZL / / to in the ratio for the gross income group of $1,000 to o $1,499, with their net averaging half of their gross D 1,000 2 000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 N E T INCOME IN DOLLARS income. From this point forward on the gross-income scale, the ratio of net to gross increases slowly to a Figure 9.—Cumulative Percentage Distribution of Osteopathic Physicians According to Total Net Income, by Years. maximum of 0.59 between $3,000 and $5,000. There is little variation in the ratio after this level is reached, figures 9,10, and 11. The differences between the averexpenses increasing in about the same proportion as ages and the corresponding medians reflect the existence gross income. of a number of high income returns, a condition to which reference was previously made in the case of Incomes of Osteopathic Physicians dentists and which is common to most distributions of The average net income from professional services, income by size. including professional salaries, of practicing osteopathic Less than one-fifth of the returns reported incomes of physicians in 1937 was $2,584, as compared with aver- less than $1,500 in 1929, but almost half were below that ages of $3,620 in 1929 and $1,943 in 1933. The cor- figure in 1933. Considering the higher income group, D.O.99-+6 Table 7.—Cumulative Percentage Distribution of Osteopathic Physicians According t o Total N e t Income from Professional Services By years By type of practice, 1937 By type of income recipient, 1937 Item 1929 1933 1935 1936 1937 General Partly Wholly specialized specialized Nonsalaried Part salaried 100 percent salaried Percentage of total reporting net incomes of less than: $0 $500 ._ $1,000 $1,500 $2,000 $2,500 $3,000 _ $4,000 $5,000. _. $6,000 $7,000 $8,000... $9,000 $10,000 $15 000 $20,000 $25,000 $50.000 Average income... Median income. Percent of total Number in sample 1.0 2.6 2.3 2.8 1.8 2.3 0.5 00 1.9 0.0 0.0 4.9 11.7 19.2 30.5 39.5 48.9 12.3 30.9 49.4 63.7 74.1 80.9 10.5 27.0 42.7 56.9 67.5 76.3 10.2 24.3 37.8 51.5 63.3 71.5 9.5 21.3 33.9 49.1 61.4 68.9 10.6 23.9 37.1 54.2 65.9 73.7 7.4 16.3 26.8 38.1 50.7 56.9 0.0 2.3 9.1 15.9 34.1 38.6 9.8 21.5 34.1 49.2 61.6 68.8 2.? 15.1 30.1 45.4 55.0 65.9 10.6 27.7 38.3 55.4 70.4 81.0 65.3 76.9 84.6 90.1 93.5 95.7 96.5 89.8 94.1 96.9 98.2 98.8 99.2 99.7 87.3 92.2 95.4 96.9 98.1 98.9 99.2 84.2 91.0 94.1 96.3 97.7 98.2 98.8 82.5 89.1 92.9 95.4 96.7 97.9 98.6 85.1 91.8 94.7 96.7 97.7 98.3 98.9 74.6 81.9 89.3 92.7 95.0 97.2 98.9 56.8 70.5 70.5 79.6 81.8 88.7 88.7 82.2 89.3 93.1 95.6 96.9 98.1 98.9 81.0 83.7 87.8 91.9 93.2 96.0 97.3 85.3 95.8 95.8 97.9 97.9 97.9 97.9 99.3 99 8 100.0 100.0 100.0 99.7 99.9 99.2 99.9 99.9 99.9 99.9 99.9 100.0 100.0 97.7 97.7 97.7 99.9 99.9 99.9 100.0 100.0 100.0 100.0 100.0 100.0 $3, 620 $3, 067 $1,943 $1, 521 $2,190 $1, 757 $2, 425 $1, 945 $2, 584 $2, 037 704 873 1,088 1,240 1,472 $2, 348 $1,877 73.1 1,018 $3, 058 $2,472 24.4 349 $5, 309 $3, 626 2.5 38 $2, 579 $2,032 93.6 1,374 $2, 943 $2, 240 3.9 61 $2, 147 $1,842 2.5 . _ .._ 37 12 SURVEY OF CURRENT BUSINESS by reading across the 90-percent level of figure 9, we find that 10 percent of the total number received more than approximately $7,000 in 1929, $4,000 in 1933, and $5,200 in 1937. Correspondingly, 90 percent of the total number received less than these amounts in the respective years. Similar comparisons may be drawn at the various income and percentage levels. April 1939 - M l /// /oo% t -NON-SAL AX/£D _ GE NERAL ^ \ X / SP£C/AL/ZED S J 1^" YxX / / / SPt ! / /A ,' •'/ 1,000 3000 4-.000 j i 5,000 6,000 7,000 8,000 9,000 10,000 NET INCOME IN DOLLARS Fig ure 10.—Cumulative Percentage Distribution of Osteopathic Physician According to Total Net Income, by Type of Practice, 1937. A typical reading from table 7 shows that almost two-thirds of the general practitioners had incomes of less than $2,500 in 1937, while only slightly more than half of those partly specialized and but slightly more than one-third of the wholly specialized osteopathic physicians were below that income level. A consideration of the same income level according to the type of income recipient indicates that of those osteopathic physicians relying entirely on independent practice for their professional income, 62 percent had incomes of less than $2,500 in 1937, while only 55 percent of those receiving both independent and salaried incomes were below this figure. Average income: $3, 620 1929 1,943 19332,190 1935 2,425 1936 2,584 1937 --- Index of average income (1929=100): 1929 . - - 100.0 53.7 1933. . . __ 60.5 1935 67.0 1936 1937_ - 71.4 Percentage of total number: 100.0 1929 . 100.0 19331935 100.0 1936.. 100.0 100.0 1937-. Number in sample: 704 1929 . 1933.. . _. ... 873 1.088 1935 1.240 1936 1,472 1937. 5.000 6.000 7,000 8,000 9,000 10,000 Table 9.—Average and Median Net Income of Osteopathic Physicians by Years of Practice and Age, 1937 Item Nonsalaried Part salaried Number in sample Net income from professional service Average Type of income recipient Total 4,000 Variations in relative positions with respect to average incomes of the three types of income recipients are indicated in table 8. Thus, part-salaried osteopathic physicians reported the highest average income of the three groups in 1929 and the second highest in 1933. The average reported for the wholly salaried group was the lowest of the three in 1929, but by reasor of a relatively small decline, it was the highest in 1933 Decreases in the averages for the part or wholly salaried groups in the latest years studied may possibly be explained on the basis of the entrance into these fields of the newer members of the profession whose average incomes are relatively low. The data in table 9, relating income to years of practice, show a rapid rise of income during the early years of practice to a peak in the twentieth to twentyfourth year of practice, and a decline thereafter. Similar data related to age show a maximum level of Table 8.—Average Income and Percentage Distribution of Osteopathic Physicians, by Type of Income Recipient, by Years Item and year 3,000 Figure 11.—Cumulative Percentage Distribution of Osteopathic Physicians According to Total Net Income, by Type of Income Recipient, 1937. i 2 000 2.000 NET INCOME IN DOLLARS WHOLLY C/ALIZEO / <A 1000 f • • - *• \ 100-percent salaried $3,598 1,908 2,170 2,406 2,580 $4,560 2, 462 2,747 3,049 2,950 $3 485 2,827 2,305 2 264 2,150 100.0 53.0 60.3 66.9 71.7 100.0 54.0 60.2 66.9 64.7 100.0 81.1 66.1 65. 0 61.7 95.1 95.1 94.9 94.4 93.6 2.6 2.8 3.1 3.5 3.9 2 3 2.1 2.0 2.1 2.5 668 831 1,031 1,169 1,374 19 25 35 45 61 17 17 22 26 37 3-4 . _._ -- 5-6 7-9 10-14 15-19 20-24 25-29 . 30 and over Number in sample Median (A) YEARS OF PRACTICE 1 and under 2 Item Net income from professional service Aver- Mediage an (B) AGE 141 $1,084 75 1,508 155 2,095 97 2,491 144 2,914 225 3,185 121 3,292 149 3,393 93 2,676 202 2,390 $821 1,214 1,848 2,009 2,323 2,639 2,952 2,479 1,961 1,924 25 and under 26-27. 28-29 30-34 35-39 __.. 40-49 50-59 60 and over.. $599 76 111 1,525 1,928 1,360 1,740 240 191 2,376 3,173 2,080 2,626 275 254 3,413 2,836 2,029 2,810 2,239 184 1,602 income in the forties. While there is a high degree of correlation between age and years of practice in osteopathy, differences existing between the two sections of the table are accounted for by reason of the variation in the entrance age of the various members of the profession. 13 SURVEY OF CURRENT BUSINESS April 1939 Highest average incomes were realized in the Pacific States in 1937 (see table 10). Next highest were the Middle Atlantic States, while the lowest average incomes were received in the West North Central and Mountain States. Although the New England States ranked fifth in average income received, the median Table 10.—Average and Median Net Income of Osteopathic Physicians, by Geographic Divisions, 1937 Number in sample Geographic division Net income from professional service* Median Average New England Middle Atlantic. . . East North CentralWest North Central South Atlantic _._ South Central Mountain Pacific 105 221 323 284 73 121 67 255 __ $2,185 2, 098 2,167 1,740 2, 075 1,912 1,720 2,393 $2, 495 2, 737 2,640 2, 300 2,597 2, 394 2,291 2,990 income for this area ranked second because of a more uniform distribution of income in that group of States. A ranking of average incomes by the size of place from which the returns were received (see table 11) shows that throughout the years covered in this study, osteopathic physicians in places with populations of 1,000 and under and of 1,000 to 2,500 received the lowest and the second lowest average incomes respectively, while the lowest 5 were consistently in groups of places with Jess than 25,000 population. While there are too few returns in some of the larger cities to afford valid comparisons, the differences in rank from year to year indicate that above the 25,000 population level there was little relationship between size of city and average income. Los Angeles showed a constant gain in relative ranking, rising from a position of seventh in 1929 to second in 1937. Table 11.—Average Net Income of Osteopathic Physicians, by Size of Place and by Years 1929 1933 N u m b e r Average in sample N u m b e r Average in sample income Indexes of average, income (1929=100) 1936 1937 Number Average in sample income Number Average in sample1 Size of place group Under 1,000.. 1,000-2,499.... 2,500-4,999.... 5,000-9,999.... 10,000-24,999 . N u m b e r Average in sample 1929 1933 1935 1936 1937 $1, 919 2,603 3,043 3, 521 2,971 37 59 51 94 129 $1,151 1,453 1,858 1, 967 1,744 72 118 156 $1, 234 1, 696 2,046 2,060 1, 916 69 88 88 132 179 $1, 552 1,942 2, 390 2 221 2, 076 90 109 109 151 211 $1, 540 1.962 2,380 2,381 2, 289 100.0 100.0 100. 0 100. 0 100.0 60.0 55.8 61.1 55.9 58.7 64.3 65.2 67.2 58. 5 64.5 80.9 74.6 78.5 63. 1 69. 9 80.3 75.4 78.2 67. 6 77. 0 25,000-49,999 50,000-99,999 100,000-249,999... 250,000-499,999... 500,000-999,999... 3,956 3, 865 4,253 3, 777 4,151 81 81 86 89 37 2,032 2,120 2,028 2,130 2,424 96 97 103 107 49 2, 529 2, 325 2,405 2,410 2, 729 106 108 117 117 55 2,783 2,767 2, 492 2, 651 3, 073 118 121 141 137 63 2,894 3,214 2, 656 2,854 3,125 100.0 100.0 100.0 100.0 100.0 51.4 54.9 47.7 56. 4 58.4 63. 9 60. 2 56.5 63. 8 65.7 70. 3 71.6 58. 6 70. 2 74.0 73. 2 83.2 62. 5 75.6 75.3 Los Angeles Detroit Philadelphia Chicago New York C i t y . 3,962 2,116 60 2,589 2,896 65.3 73.1 86.1 2, 656 2,833 2,645 2,720 3, 089 2,756 3,410 3, 537 2,458 2,853 3,163 53. 4 2,495 2,326 3,651 80 16 31 36 28 100.0 4,726 5,446 4, 319 100.0 100.0 100. 0 52.8 42.7 84.5 56.2 52.0 61.2 57.6 56.7 63. 8 52.0 52.4 73.2 14 SURVEY OF CURRENT BUSINESS April 1939 NEW OR REVISED SERIES Table 19.—EXPORTS BY GRAND DIVISIONS AND COUNTRIES, ECONOMIC CLASSES, AND COMMODITIES x [Revised statistics for 1937] January FebruMarch ary of doL. 222, 665 233,125 do— do do do— do do do_._ do do do do do— do do— do_._ do___. 10, 265 49, 287 22,363 89, 535 13,492 7,395 6,633 35, 257 31, 678 31, 289 22,113 7,031 19, 788 5,336 4,162 1,668 10, 756 49, 920 24,847 95,943 13,080 9,214 6,071 38,883 31,926 31, 643 24,589 7,877 19,990 5,928 3,977 1,453 219,063 60, 636 37,461 13,107 3,598 9,510 4,263 2,980 1,894 34, 281 111, 039 27, 544 6,515 31,533 Item Total, including reexports thous. By grand divisions and countries: Africa Asia and Oceania Japan Europe France Germany Italy United Kingdom North America, northern Canada North America, southern Mexico South America Argentina Brazil Chile By economic classes (United States merchandise only): Total thous. of dol_. Crude materials do Cotton, unmanufactured do Foodstuffs, total do Foodstuffs, crude do_._. Foodstuffs and beverages, manufactures thous. of dol_. Fruits and preparations do— Meats and fats do Wheat and flour do Manufactures, semido.__ Manufactures, finished do_. _ Autos and parts do_._ Gasoline do... Machinery do... May June July August 256, 566 268,945 289,922 265, 341 268,184 277,031 296, 579 332,710 314,697 323,403 3, 349,167 10, 040 61, 726 30,109 97,157 12,440 9,526 6,979 34,133 38, 265 37, 630 26, 543 9,404 22, 834 5,839 5,319 1,537 13, 569 57, 795 26,939 99, 342 12,170 12, 300 7,501 29,905 46, 012 45,145 28, 233 10,616 23, 994 6,656 4,770 2,002 13,468 68, 902 36,186 101,934 12,470 7,254 6,325 35,477 51,995 51,129 27,178 8,875 26, 445 7,785 5,927 1,839 12,169 55, 453 25,194 98,908 11,221 8,935 6,953 34,037 47, 837 46,936 26, 039 9,968 24,934 8,313 4,764 1,903 14,952 63, 070 26, 535 86,791 9,918 7,857 4,749 32,050 46, 254 45,119 28, 288 11,008 28,828 8,164 5,947 2,439 13, 328 56, 446 24,638 104, 358 10,713 11,095 5,498 42, 354 48,418 47,566 26, 891 9,094 27,589 9,239 5,627 2,174 13, 537 49, 647 16,769 135, 484 17, 601 11,901 7,594 60,731 45,948 45,174 25, 701 9,149 26, 261 7,422 5,697 1,698 11, 682 55,180 20,128 148,806 16,940 14, 285 5,970 65,891 52,827 51, 667 29, 548 8,463 34,668 10,377 7,747 2,531 12, 633 56, 504 18,241 144,814 16, 535 12, 668 5,995 63,110 44,388 43, 500 27, 287 8,382 29, 072 8,097 6,814 2,382 15,759 54, 989 16,610 156, 537 17,949 13,913 6, 562 64,659 33, 509 32, 519 28,659 9,583 33,950 11,027 7,879 2,370 152,158 678, 919 288, 558 1,359,610 164,528 126, 343 76, 830 536,490 519,058 509, 316 321,068 109,450 318,354 94,183 68,631 23,997 229,6.1 54, 389 34,066 22, 525 3,522 252,443 52,146 34, 272 17, 453 4,101 264,627 50, 367 28, 571 16,489 4,150 285,081 51,978 24, 643 16, 340 3,583 256,481 42,003 16,835 15,970 4,425 264,613 34, 340 9,356 17,412 5,925 273, 561 46, 045 15,903 27,362 13,125 293, 374 80,909 38,961 26,738 9,984 329,373 88,256 44,989 38,874 17,617 311, 212 84, 885 43, 679 32,918 15,158 319,431 75, 909 39,923 37,062 19,319 3, 298,929 721,863 368,660 282, 250 104, 506 19,003 9,903 2,624 1,815 38,057 114,700 26, 019 6,279 31, 434 13, 352 5,510 3,151 1,927 53,118 129,726 28,819 5,954 36, 948 12, 339 4,959 3,320 2,199 56,093 141,679 30, 791 6,167 43, 332 12, 757 3,724 3,995 2,618 71,772 144,992 33,219 7,539 42, 246 11,545 4,225 3,269 2,645 63,319 135,188 29,721 7,455 40, 790 11,487 3,776 3,162 4,531 68,885 143, 977 29, 414 7,024 46, 097 14, 238 6,978 2,994 8,885 67,217 132,936 23,149 9,349 40, 774 16, 754 7,766 2,993 5,364 55, 377 130, 349 23, 296 10,510 38,968 21,258 12,680 4,588 10, 314 58, 686 143,557 25, 405 9,031 44, 570 17, 760 8,871 4,707 9,072 56,967 136,443 29, 802 9,462 37, 737 17, 743 7,352 4,774 12, 714 54,497 151,963 39,708 5,669 44,634 177,744 80, 008 42,559 63,978 678, 268 1,616,548 346,887 90,956 479, 061 33,763 22, 634 11,129 488, 731 35,082 22, 827 12, 255 481, 994 38,274 23,447 14,827 510,571 33,587 18, 408 15,179 474,183 34,415 19, 268 15,147 405, 768 28, 838 12, 086 16, 752 428,888 21,404 6,181 15, 223 510, 590 25, 679 17, 348 8,331 520, 371 36,110 24, 645 11,465 354,755 50,340 27, 590 22, 750 538, 786 397,649 231, 482 166,167 5, 667, 363 128 474 24 263 871 29 172 1.320 41 136 1,388 38 103 1,462 49 68 1,350 55 118 1,332 49 174 1,252 45 165 1,191 56 1.52 360 31 1,709 11.736 470 By individual commodities: Automobiles assembled, total number. 32,626 27, 531 Passenger cars do. _ _ 20, 034 17,014 Trucks do__. 12, 592 10, 517 Cigarettes thousands. 463,017 489, 709 Coal: Anthracite thous. of long tons. 107 122 392 Bituminous do.. _ 344 26 Coke do-_Copper, refined and manufactures, 22, 044 29, 099 short tons. 486 538 Cotton (excluding linters)_thous. of bales. 14, 426 15, 872 Cotton cloth thous. of sq. yd321 Cottonseed cake and menl short tons. 461 Fertilizers, total long tons.. 66,772 61,001 8, 006 15, 289 Nitrogenous do... Phosphate materials do. _. 49, 340 48,020 122 Prepared fertilizers do _ _ _ 172 Fir, Douglas, lumber M ft. b . m . 1,723 12, 750 Fir, Douglas, timber -_do__52 8,522 2,629 2,369 Gasoline thous. of bbL 11 Gold thous. of dol. (3) 1,780 1,689 Grains, incl. flour and meaL-thous. of b u . 144 8 Barley, including malt do.-37 42 Corn, including meal do__64 78 Oats, including oatmeal do._3 3 ( ) Kye, including flour do__() 1,522 1, 576 Wheat, including flour do-__ 38 33 Wheat only do___ 316 328 Wheat flour thous. of bbl_ 290, 986 201,703 Iron and steel, total long tons. 72, 849 151, 271 Scrap do_._ 805 619 Kerosene thous. of bbL 82 76 Leather, sole thous. of l b . 6, 245 6.494 Leather, upper thous. of sq. ft. 40, 766 37! 681 Linseed cake and meal thous. o f l b . 16 21 Locomotives, railway, total number. 13 17 Electric do._. 3 4 Steam do.__ 84, 644 63,169 Lumber, all types M.ft.b.m. Meats: 1,071 879 Beef and veal thous. of lb. 9,161 12, 377 Pork, including lard do__. 4, 456 8, 304 Lard do__. 55, 891 205,156 Methanol, refined gallons. Milk: 174 261 Condensed (sweetened) thous. of lb. 2,010 1,886 Evaporated (unsweetened) do_ _. 2S2 216 Powdered do... 99, 654 121, 996 Rice packets (1001b.). 76 142 Shoes, leather thons. of pairs. 2,112 1,811 Silver thous. of doL 32,184 25, 265 Southern pine, lumber M ft. b. m. 5, 035 Southern pine, timber do__. 5,196 6,137 Sugar, refined, incl. maple long tons. 4, 567 24, 050 Tobacco leaf, incl. scrap thous. of lb. 35, 921 2,841 Vegetable oils, total do... 2, 527 1 See footnote on p. 15. 2 Less than $500. 3 Less than 500 bushels. Sep- October NoDevember cember tember April 31, 728 468 20, 305 181 106,297 23,430 77,396 224 31, 700 19,811 2,190 39 2,262 574 47 75 1 1,565 61 320 570, 551 362, 249 403 70 6,119 61,741 6 4 2 113,110 26, 884 373 16, 244 185 122,863 15, 444 97, 380 476 31, 248 11,042 2,322 13 2,271 513 20 61 1 1, 676 137 328 683, 590 427, 886 762 62 5, 875 61, 781 21 10 11 99,521 1, 497 12, 487 7,324 30,149 1,528 13, 737 8.245 202, 809 1,008 20, 055 13,565 72, 540 828 14,915 9,826 114,023 226 1, 968 326 33,610 161 1, 546 25, 813 7,015 6, 664 26, 732 2,609 124 2,019 412 29, 593 169 1, 668 27, 751 7,072 5, 680 24, 001 3, 651 457 1,946 272 21,428 124 1,841 32,813 7,038 7 736 29! 103 3,595 1,331 1,595 248 84, 407 96 1,144 26, 823 5, 629 4, 034 24,034 2,940 34, 436 25, 927 324 230 15, 523 17, 361 1 146 166,233 120, 301 12, 792 15, 562 84, 654 142,037 420 247 49, 339 39, 959 37, 529 39, 477 2,623 2,771 4 81 2,494 2,499 105 93 30 35 82 79 186 59 2,108 2,217 395 770 364 308 969, 211 826, 634 638,108 519,737 652 608 87 72 5,148 4,185 74, 209 70,715 18 7 15 5 2 3 127, 815 107, 661 Total 32, 741 32, 219 26,521 25,142 124 220 799 617 17,491 14, 360 25, 767 16,367 75 154 9,126 19,917 150,583 150,204 109,401 178,734 16,758 24, 755 18, 001 28, 962 116,651 125, 208 72, 404 145, 242 303 320 907 127 33, 761 42, 446 21, 636 21,371 42,146 35, 773 12, 721 9,925 2, 542 3,130 2, 969 3,668 208 169 129 232 14, 833 4,081 9, 365 11,175 2, 962 265 2,118 1, 737 29 188 35 32 103 761 2, 825 942 721 754 293 1,031 7,233 4,712 9, 330 3, 385 7, 104 2, 145 5, 453 2,678 264 379 433 473 889, 478 886, 448 543, 636 522,611 425, 303 478, 296 256,191 185.618 1,084 956 759 681 75 82 100 93 4, 557 5, 343 4,103 5, 376 56,184 67. 032 50. 747 55, 586 22 23 29 32 12 25 18 29 3 4 4 93, 751 102, 620 77, 042 73, 523 28, 499 797 24,054 10, 043 152, 388 24, 965 111,848 331 19, 605 8,897 2,958 30, 084 14, 236 2, 270 1, 750 1,031 589 8,597 6,388 470 556, 591 255,311 679 56 3,494 56, 822 16 15 1 79, 260 30,988 751 21,631 13,587 135,173 11,065 117, 236 102 20,257 7.564 1,872 15,052 18,753 863 3,895 1,510 627 11,857 9, 645 471 626, 408 319,771 656 91 4, 083 53, 827 23 18 5 73,131 346,229 5,728 219,401 54,197 1,520,950 215,029 1,187, 416 3,751 325, 795 233, 459 32,044 46.020 85, 439 11,651 6,139 7,611 4,262 55, 776 34, 84S 4, 453 7, 567, 847 4, 092, 590 8. 664 '947 61,021 687,091 234 181 53 1,095,247 889 23 397 18, 597 41,198 705 26, 260 18,314 19, 656 991 29, 552 22, 181 43, 970 12, 666 200, 011 135, 950 876,156 137 1,458 2,037 1,918 517 571 322 276,142 277, 547 363, 309 127 132 119 236 380 527 17, 095 21,407 17,521 6,026 5, 747 2.808 4 R99 5, 757 5, 675 55. 981 59, 974 60,464 3, 262 4,024 5, 219 7, 972 22, 874 4,242 2, 040, 878 1, 532 12,042 291,644 6fi,314 62 671 434,796 41.717 n 1,064 13, 222 7,746 12,113 1,179 11,831 7,175 68, 421 1,026 13, 016 9,717 10, 230 1,221 701 741 2, 265 1, 819 1, 539 409 301 366 160,129 247, 858 325, 205 126 118 141 285 214 278 21, 105 21,264 22.603 3, Pf>7 7,738 3,043 4, 265 3,907 3, 550 25, 322 53, 226 15,988 3,098 3, 595 4,355 1.142 li 874 15 SURVEY OF CURRENT BUSINESS April 1939 Table 20.—IMPORTS BY GRAND DIVISIONS AND COUNTRIES, ECONOMIC CLASSES, AND COMMODITIES1 [Revised statistics for 1937] Janu- FebruMarch ary ary Item Total, general imports thous. By grand divisions and countries: Africa Asia and Oceania Japan Europe France. _ Gcrmany Italy United Kingdom North America, northern Canada North America, southern. Mexico South America Argentina Brazil... Chile April May June July DeSep- October NoAugust tember vember cember Total of doL 240,444 277, 709 307, 474 286, 837 284, 735 286, 224 265, 214 245, 668 233,142 224, 299 223,090 208, 833 3,083, 668 do... do... do__. do._. do_.. do___ do._do___ do_._ do___ do... do do.__ do do do 7,576 76, 835 17, 683 67, 260 5, 852 7,737 9,350 92, 014 18, 382 73,074 11,391 95, 840 17, 653 81, 345 7,559 7,988 3,878 21, 428 37, 616 37, 087 35,106 9,228 100, 353 18,240 72, 225 6,245 7,620 4,370 17, 960 36, 888 36, 478 29, 273 5,139 36, 768 13, 732 8,181 5, 489 8,470 98, 018 18, 637 69,044 5,545 7, 575 3,595 18, 017 39,113 38, 350 27, 521 5,611 44, 057 18,059 10, 642 5,648 7,394 85, 858 16, 443 70,152 6,100 8,229 3,332 15, 229 36, 675 35, 689 25, 561 4,457 39, 573 17, 320 9,693 2,626 6,145 82, 934 16, 303 67, 906 5,675 8,649 3,476 15, 902 34, 520 33,161 21, 360 4,793 32, 803 11,188 10, 799 2.976 6,137 79, 485 15, 983 67, 062 5,518 7,373 3,183 14. 779 34, 845 33, 355 15, 336 3,928 30, 277 9,410 10, 478 1,612 4,673 73, 927 15, 420 74, 243 7,593 8,194 4,337 16, 509 32,430 31,995 13, 698 46,176 18,166 10, 545 5,110 12, 553 02, 011 20, 428 73, 859 6,591 7,505 4,329 17. 372 35, 327 35.198 34, 765 7,039 38, 321 11, 408 10, 003 7,439 4,893 81,074 17,190 66, 984 6,027 8,156 4,175 15, 802 29, 355 28, 631 14, 049 3,939 26, 735 5,585 9,898 2,314 4, 339 77, 341 11,840 60,173 6.104 7,037 5,045 12, 237 26, 255 25, 089 16, 226 3,954 24, 499 3,857 9,177 2,803 92,148 1,035, 689 204, 201 843, 329 75, 609 92, 468 48,170 202, 691 407, 431 39S, 309 283, 045 60,120 422, 026 138, 940 120, 638 46, 668 260, 047 295, 705 90, 588 91, 366 41, 399 45, 251 280, 899 88, 214 39, 541 278,118 91, 440 37,195 278, 300 92,125 41, 618 262, 919 77, 964 37, 750 248, 730 79, 606 34, 018 233,959 75, 988 28, 531 226, 470 212, 382 71, 673 67, 494 23, 610 23, 858 203, 644 67, 618 21, 814 3, 009, 852 971,061 413,312 440, 05 634,17 551, 25 By economic classes (imports for consumption): Total thous. of dol. Crude materials do Foodstuffs, crude do... Foodstuffs and beverages, manufactures thous. of doL Manufactures, semido Manufactures, finished do By individual commodities: Aluminum (bauxite) long tons._ Asphalt short tons.. Cheese thous. of lbs._ Cocoa long tons_. Coconut or copra oil thous. oflbs.. Coffee thous. of bags.. Copper, total short tons.. For smelting, refining, and export..do Product of Cuba and Philippine Islands short tons All other do Copra do Cotton (excluding linters).thous. of bales.. Cotton cloth thous. of sq. y d . . Fertilizer, total long tons_. Nitrogenous, total do Nitrate of soda do Phosphates do Potash do Flaxseed thous. of bu__ Gold thous. of dol.. Gypsum, crude short tons.. Hides and skins, total thous. of lbs.. Calf and kip skins do Cattle hides do Goat skins do Sheep and lamb skins do Irqn and steel, total long tons.. Scrap do Iron ore thous. of long tons__ Lead, total except manufactures (lead content) short tons.. Manganese ore (manganese content) thous. of longtons.. Newsprint short tons.. Petroleum, crude thous. of bbl__ Rayon thous. of lb._ Rice (pockets 1001b.)__ Rubber, crude, incl. latex long tons.. Silk, raw thous. of lb__ Silver thous. of doL_ Sugar, raw long tons.. Sugar, refined, receipts: From Cuba do From Philippine Islands do Tea thous. of lb__ Tin, bars, blocks, etc long tons.. Tobacco leaf, unmanufactured.-thous. of lb__ Vegetable oils, total do Paint oils do All other vegetable oils do Woodpulp, chemical short tons.. Woodpulp, ground wood do Wool, unmanufactured thous. of lb__ 4,288 18,412 33, 775 32,889 22, 362 5,089 32, 636 8,655 11, 551 2,898 228, 680 76, 984 38, 726 6,406 4,162 19,044 30,631 30, 388 27, 787 5,500 44, 853 16, 380 10, 999 5,255 3,675 25, 328 5,180 8,671 2, 497 29, 648 46, 618 36, 703 34, 818 52, 366 40,875 52,181 57, 857 49, 051 51,190 54, 392 47, 563 47,109 55, 860 46, 514 38, 462 58, 871 47, 225 39, 774 59, 032 48, 399 32, 984 54, 807 47, 315 28, 408 52, 561 48,471 29, 369 51, 888 49, 930 27, 605 46, 387 47, 038 28, 508 43, 535 42, 168 28,363 439 5,022 28, 788 39, 352 1,370 7,135 5,994 41, 603 4,987 4, 697 26, 500 21, 466 1,563 21, 952 18, 358 43, 016 5,074 6,347 34, 337 17, 667 1,365 14, 553 12, 905 35, 250 1,231 5,365 33,181 33, 937 1,138 14, 547 11, 336 29, 570 4,000 3,958 22,165 24, 282 925 13, 281 10, 717 35, 734 3,270 4,808 17, 557 32, 677 1,032 19, 657 15, 942 51, 026 2,406 3,490 18,130 24, 340 865 31, 735 29,161 32, 857 704 3,677 27, 633 31, 637 733 22, 946 20,867 6,161 104 4,811 25, 247 26, 742 843 15, 591 15, 341 55,179 3,017 7,536 12, 665 19,011 874 18, 866 15, 541 51,141 3,119 6,206 17, 438 31,415 1,040 20, 547 18, 828 57, 523 311 4,733 12, 720 34, 850 1,110 26, 672 23, 175 507, 423 28, 662 60, 650 276, 361 337, 376 12, 857 227,481 198,165 2,133 46 1,602 1,460 41, 966 15.192 45 23 19, 278 22, 257 233, 207 260, 223 191, 428 181, 213 113,166 97, 979 4,164 15, 752 34, 772 55.193 3,727 4,084 120, 326 154, 371 3,264 7,859 27, 500 41,087 1,725 2, 345 11,622 17,147 7,143 10, 746 4,291 7,205 40, 728 51, 805 2,471 1,907 215 210 2,071 1,139 4, 669 28 23, 932 253, 005 201, 420 137,008 7,869 32, 951 2,280 215, 825 68,177 33, 628 1,600 15, 981 8,642 4,845 68,197 11,713 197 41 2,523 17, 899 31 15, 090 178,118 128,116 85,121 12, 972 13, 992 3, 662 155,366 95, 215 28, 865 2,450 7,130 9, 560 7,274 49, 050 9,173 215 2,538 1,508 1,177 1,067 25, 822 20,141 36 19 10,743 10,576 122, 483 80, 947 92, 469 41,514 52, 578 2,766 13, 687 8,784 9,646 28, 532 2,661 2,063 262,103 175, 624 136,264 99, 439 29,833 27, 895 1,196 1,540 10, 413 9,810 11,323 8,389 4,842 6,443 44,771 47, 012 5,072 5,824 198 231 1, 967 112 41, 955 8 7,896 115, 961 37, 238 1,865 4,135 69, 094 1,254 105, 013 102, 859 21,515 1,232 9,038 5,502 4,150 61, 489 23,110 207 50 200 24, 991 5 5, 560 141, 744 41,102 5,475 8,545 87, 673 2,009 145, 623 104, 374 22, 047 1,363 9,898 5,026 4,159 37, 071 8, 566 1,995 1,331 14, 987 9 5,903 155, 999 40, 561 2,871 19, 590 93, 961 1,707 90, 709 93, 111 21,310 1,489 8,662 6,923 3,171 37,186 7,684 256 109 1, 610 23, 335 9 5,363 153, 863 68, 463 21, 398 9,392 69, 840 1,774 52,194 90,983 18,857 1,077 8,173 5,452 2,430 26, 996 3,011 159 1,951 1,545 29, 019 9 5,131 198, 447 97, 673 53,734 3,329 95, 546 1,672 33,033 80, 521 16,138 1,015 6,206 5, 080 2, 333 25, 792 688 181 14, 435 14, 880 268, 876 236 147, 321 2, 093, 309 1, 201, 710 626, 594 113, 799 703,129 28, 032 1, 631, 523 897,485 312, 038 18, 606 124, 633 89, 579 53, 518 533,160 81,640 2,442 315 874 1,730 1,597 1,445 1,482 2,107 4,795 16, 757 263, 620 2,512 2, 771 188,107 43,061 5,742 2,821 411,035 55 281, 091 2,621 2,917 205, 853 48, 898 5,148 3,165 326, 885 33 60 288, 290 302, 981 2,635 3,148 2,389 1,788 192, 870 178, 072 49, 635 43,414 5,521 4,015 6,025 4,476 219, 935 293, 422 50 260,158 2,771 1,954 176, 431 49, 820 5,174 4,964 246, 556 25 303, 350 2,560 1, 573 152, 366 57, 024 4, 958 8,427 154, 535 48 298, 559 2,180 1,323 83, 924 53, 129 5,054 5,701 132, 584 19 299, 561 2,511 228 80, 991 54,043 5, 865 10. 633 136, 471 38 305, 802 2, 624 581 56, 558 69, 810 3, 781 23,151 134, 217 465 3, 317, 022 27, 310 21, 580 1, 825, 591 597, 786 64,169 91,877 2, 853, 507 42, 401 8, 041 6,787 6,430 6,913 163, 380 22, 921 140, 460 108, 569 19, 669 38, 202 47, 817 13, 383 6,693 6, 557 6,317 181, 296 17, 553 163, 744 187,818 21, 484 29, 990 30, 950 11,519 7,905 5,763 7,373 7, 044 6,344 6, 558 6,716 6,329 194, 222 153,828 28, 776 3,248 6,487 6,312 6, 050 150, 839 25, 462 125, 376 201,019 15, 504 21,116 5,415 1,286 8,008 6,158 6,033 117. 096 26,170 90, 926 187, 225 15, 300 16, 896 3 580 7,789 8,179 5,545 80, 994 10, 282 70, 711 184,140 17, 732 14,213 957 1,988 9.177 7,338 4,925 99, 816 9,164 90, 651 188, 271 19, 351 10,147 3,240 135 8,980 8,023 6,502 84, 096 6,680 77,416 161, 576 15, 645 6,045 289,640 49, 435 94, 817 88,115 71,703 1, 600, 222 218, 877 1,381,345 2,176,183 218,422 326, 035 27 1,115 8,900 15 15, 591 199, 312 80, 513 52, 633 5,580 111,929 1,139 121,336 15, 419 23, 363 1,575 10, 554 5,791 2, 375 43, 063 2,421 186 309 410 815 32 238,443 945 1,494 207, 492 43, 339 7,413 2,846 189, 647 17 41 204, 689 270,478 606 2,199 2,095 2,467 125, 935 176, 992 44, 715 40, 898 6,472 5.026 14, 080 5,589 221, 661 386, 560 10,834 590 7,544 8,509 5,738 102, 428 4,246 98,182 172,132 18, 513 46, 890 16, 583 91,145 1,893 4,623 9,370 9,567 7,238 10,468 5, 570 5,065 130, 477 141, 751 20, 405 22, 363 110,072 119,388 191, 278 151, 820 15, 262 46, 292 15, 443 48, 462 877 26, 167, 240, 19, 28, 898 324 411 611 480 26, 732 127,096 201, 924 24, 908 19,302 i C o m p i l e d b y t h e U. S. Department of Commerce, Bureau of Foreign and Domestic Commerce. D a t a represent t h e final revision for t h e year 1937 of all series of i m p o r t s a n d exports w h i c h appeared in t h e 1938 S u p p l e m e n t a n d in t h e m o n t h l y S u r v e y s . All of t h e d a t a h a v e n o t been revised, b ua tt t h e ccomplete t a b- u -l a t-i o-n , - b y m o n t -h s , is presented here for convenience of the users of t h e statistics. Revisions in exports are s h o w n on p . 14. 16 SURVEY OF CURRENT BUSINESS Table 21.—FEDERAL DEBT April 1939 1 [Millions of dollars] Interest-bearing debt—Public issues Month 1916 January February._ March April May June July August September. October November. December.. January... February. March April May June July August September October. __ November December. 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 8,196 9,324 10,164 11,112 12, 579 11,986 13,179 14, 356 15, 633 18, 335 19,151 20, 821 22, 954 24,219 23,959 24, 577 25, 669 25, 234 25,556 26, 349 25, 939 25, 970 25, 877 25, 595 25,424 25,161 24, 455 24, 707 24, 736 24,061 23,985 24,091 23, 853 23, 825 23, 939 23, 745 23, 756 23, 820 23, 741 23, 760 23,710 23, 737 23,534 23, 680 23, 675 23,199 23,364 23,188 23,152 23,239 22, 904 22, 955 22,900 22, 711 22, 717 22, 796 22, 564 22, 826 22, 709 22, 483 22, 359 22, 368 22, 390 22, 327 22, 186 22, 008 21,959 21,902 21, 834 21,801 21, 779 21, 643 21, 574 21, 521 21,357 21, 354 21, 287 20, 982 20,991 20,981 20, 983 20. 978 20, 951 20,712 20, 689 20, 558 20, 509 20,508 20, 506 20,115 20,105 20, 073 20, 052 20, 051 20, 051 19, 894 19, 880 19, 876 19, 606 19, 602 19, 599 19.180 19,155 19,078 19, 008 18, 962 18, 933 18, 618 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 16, 471 16,445 16, 338 16, 303 16,278 16,032 15,916 15, 896 15, 802 15, 794 15, 793 15, 401 15, 402 15,441 15, 362 15, 374 15, 383 15,157 15,134 15,149 15,041 15,143 15, 151 14,993 14,995 15,082 15, 491 15, 921 15,917 16, 229 16, 232 16,312 16,793 16,793 16,819 17,135 17,142 J 7. 458 17, 858 17, 967 18,418 18. 852 18, 890 19, 375 19, 923 20,119 20,117 20,097 20,103 20, 236 20.660 20, 762 21,148 21, 834 21, 849 22, 337 22, 290 22, 290 22, 785 23,079 24, 350 25, 341 25, 336 25, 238 25, 232 26,084 26,140 26.034 26,169 26,190 26, 300 27, 386 27, 391 27, 413 27, 490 27,191 27,146 27, 012 27,154 27,198 27, 724 27, 675 27, 885 28, 868 28, 884 28, 910 29,858 29, 868 30, 093 32,130 32,029 31,990 32,459 32, 458 32, 464 33, 067 33,139 33,164 33, ?63 33,416 33, 633 34,245 34,418 34, 638 34,361 34,377 34, 395 34,489 34, 579 34,603 34, 486 34, 465 34, 291 33,903 33, 834 34,112 34,920 34,950 34, 981 35, 743 1924 1925 1926 973 973 1,023 1,288 1,692 2,713 2,503 3,447 4.026 5,533 7,643 7,116 972 972 972 972 972 972 972 17, 268 17,178 17,172 17,085 17,003 16, 855 16, 765 16, 893 16, 436 16, 706 16, 681 16, 510 1927 18, 593 18, 577 18, 367 18,316 18, 252 17,892 17,849 17, 775 17,863 17, 770 17, 434 17, 348 1939 35, 882 35, 934 Non-interest-bearing debt—Public issues 1917 1916 January February.., March April May June July August September. October November. December.. 253 249 258 255 252 263 266 247 244 243 255 242 253 250 247 246 246 251 254 1928 January February... March April May June July August September. October November. December.. 240 240 239 238 296 258 242 256 252 441 287 255 1930 1929 321 311 303 300 291 286 278 273 450 357 330 319 1919 1918 299 291 290 285 282 293 285 278 288 274 261 259 268 258 257 264 257 255 256 253 252 252 1920 242 240 241 236 234 237 235 231 234 234 234 233 285 249 249 244 248 247 248 246 254 240 237 239 1931 1921 250 251 302 288 282 282 279 278 273 263 270 297 236 241 241 236 237 253 242 245 254 251 256 513 233 230 238 235 239 239 236 242 248 257 253 250 1933 1932 300 305 317 309 308 326 314 309 315 328 331 357 1923 1922 1935 1934 348 350 371 354 385 381 371 376 379 381 373 364 373 349 333 319 446 342 312 299 292 281 276 273 351 348 460 520 568 572 584 585 564 545 538 536 268 323 324 308 297 305 289 281 274 267 263 266 271 262 268 261 258 269 263 265 271 263 262 267 1936 524 557 782 904 902 1, 056 1,200 1,076 989 1,081 1,017 961 264 261 269 261 260 259 255 253 261 254 251 252 250 248 282 266 262 260 256 253 269 256 399 350 1939 1937 681 675 664 646 622 625 602 595 611 591 582 571 874 868 825 814 789 765 757 745 749 706 707 1927 565 553 556 546 551 589 549 541 543 526 535 528 534 533 Special issues to Government agencies and trust funds 25 January... February.. March April May June July August September October... November. December. 100 100 99 98 97 95 94 93 92 90 89 88 1926 141 139 208 206 205 204 203 203 203 204 205 205 1927 328 329 359 359 359 359 357 352 346 343 341 338 1928 461 461 462 462 461 462 482 482 481 482 481 481 1929 609 609 609 608 608 607 631 630 630 630 629 628 1930 760 760 760 760 760 764 785 784 784 784 782 781 1931 917 897 790 447 328 291 290 274 255 236 221 393 1932 372 362 332 320 311 309 407 384 373 366 359 351 1933 351 348 331 325 320 323 390 385 381 378 375 371 1934 371 367 363 360 356 396 464 461 458 453 461 558 1935 561 557 553 575 592 633 770 757 709 705 732 728 1936 733 736 733 732 729 626 642 630 627 623 621 632 1937 1938 683 762 806 882 959 1,558 1,699 1,815 1,905 1,991 2,118 2,227 2,314 2,481 2,518 2,501 2,582 2, 676 2,810 2,943 2,933 2,949 3.090 3.156 3 215 3J392 i New series. This table gives the complete record for the break-down of total public debt (Federal), which wasfirstpresented in the November 1938 issue of the Survey. The data are compiled by the U. S. Treasury Department and are on the basis of the revised daily Treasury statements. Public issues—interest-bearing includes bonds, Treasury notes, certificates of indebtedness and Treasury bills; Public issues—noninterest-bearing includes matured debt on which interest has ceased, United States notes (less gold reserve), deposits for retirement of national bank and Federal Reserve bank notes, and other debt bearing no interest; Special issues to Government agencies and trust funds (interest-bearing) includes notes or certificates of the following: Retirement funds, unemployment trust fund, old-age reserve account, adjusted service certificate fund, Postal Savings System, Federal Deposit Insurance Corporation, and Government Life insurance fund. NOTE.—Annual figures shown for total public debt in the 1938 supi lement to the Survey are notfiscalyear averages as stated but arefiguresas of the end of each fiscal year. April 1939 17 SURVEY OF CURRENT BUSINESS Table 22.—FEDERAL EXPENDITURES, INCLUDING RECOVERY AND RELIEF > [Thousands of dollars] 1931 1932 1933 1936 1935 1934 1937 1938 1931 1934 1933 1932 1935 1936 1937 1938 218,079 198,723 342,049 300,164 256,819 394,465 249,386 283, 702 392, 822 363,772 274,841 407, 360 289,131 307, 746 504,103 426, 355 297, 479 500, 393 337, 380 309, 593 445,989 376,393 302, 831 438,216 326,049 289, 654 476,320 411,504 343,959 602, 762 405,740 386,401 453, 422 453,731 373,861 500, 024 Month General Total January February March April May June July August September October November December 321, 566 313,655, 348,585! 405, 689' 282,837 861,898 Fiscal year, total 223,665 357, 686 371,638 2 532, 553 2 435, 448 2 492, 557 352, 201 240, 087 257,998 371, 037 259,141 786, 271 273,465 247, 667 341, 089 414,980 339, 380 441,832 290, 760 291,941 342, 426 536,501 376,339 530, 049 I 716,991 634, 203 573,117 943,687 493,633 641, 301 606, 393 559, 246 543, 246 789, 863 601, 428 646,923 t, 947, 777 4, 325, 150 0.\ 370, 947 Fiscal year, monthly average- 412,315 530,912 360, 429 487, 210 535,906 529, 606 488,929 573, 012 644, 212 785, 737 647, 542 603, 366 694,241 857,403 2, 438,342 615,175 661, 559 439, 076 593,062 588,016 682,485 804, 227 680, 576 537, 072 568, 946 636,148 726, 424 587, 322 613, 648 815,096 756, 929 563,874 296,459 679,999 557,88: 703,479 611,442 495, 818 680,130 533,709 528,329 751, 953 642, 924 568,613 937, 004 762, 69: 682,823 764, 50! 770,311 678,588 870,278 300, 501 313,655 348, 585 405, 689 257,119 332, 298 583,434 9,068, 8868, 546, 380 7, 691, 287 631, 953 755, 740 640, 941 223, 658 227, 342 275,152 343, 680 246,! 352, 668 229,789 236,517 251, 622 357,674 235, 433 297, 316 226,151 200, 251 273,370 337,723 249, 028 388, 414 118,195 174, 582 245, 633 397, 950 204, 219 223,255 0 130, 96, 188, 158, 50, 339 458 867 579 756 1 3, 853 10, 221 18, 240 20, 495 29, 338 Fiscal year, total 625,000 Fiscal year, monthly average- 52,083 41,751 44, 623 64, 733 42, 580 61, 574 47, 780 91, 780 100, 491 91, 243 111,405 156,198 200, 504 461, 326 343, 055 398, 376 298, 036 250, 833 260, 047 322, 659 274, 905 242, 248 288,906 298,177 291, 623 254, 011 251, 666 280,132 257, 024 273, 467 333,713 205,809 253,003 247, 878 275, 091 263, 803 305,919 302, 268 273, 607 223,415 230,275 280,711 297, 351 287, 802 297, 564 298,516 392, 321 316,097 302, 859 269,194 263, 505 296,,--271, 892 294, 377 231,111 214,872 246, 751 245,837 204, 839 231, 588 199, 440 173,971 157, 327 165,687 154,511 169, 474 146,654 152, 608 195, 597 201.841 206, 408 314, 044 216, 406 236,179 242, 693 261, 606 248, 587 307, 241 286,763 256,115 186,464 0 0 0 0 21, 065 0 0 0 0 200, 000 Fiscal year. Fiscal year monthly average 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 121,266 71,143 71, 009 140, 662 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 221, 065 121, 266 71,143 18, 422 10,106 5,929 9, 347 97,480 92,166 22,958 29,757 10,456 7, 836 37, 643 61,142 43, 624 60, 530 29, 974 44,911 21,437 43, 668 -86, 470 32, 231 585 17,532 15,483 -1,210 30,118 15, 854 -46, 527 01,867 1,146 -283 -3,851 -4,876 3,213 6, 966 3.518 2,788 ?, 986 34,678 21,883 5, 637 9, 640 16,867 5, 549 27,146 10, 735 83,832 61, 867 73, 804 495, 668 345, 329 5,156 6,150 41,306 28,777 20 2 Transfers to Trust Accounts January February.-. March April May June July August September. . October November.. December_- 268, 75] 283, 277 358,091 388, 387 Revolving Funds—Net 4 385,187 2, 763, 295 3, 368, 530 3, 441,154 3, 073, 383 2, 237, 564 32,099 217,627 252,134 258,770 335, 320 199, 444 328,425 192, 394 258, 967 321, 879 340, 943 228, 246 346, 596 2, 680, 9773, 225, 0073, 399, 3264, 297, 0894,660,648 3, 627, 215 3, 283, 28' Recovery and Eelief January February... March April May June July August September. October November.. December._ 133,491 198,981 164, 280 308, 006 191,757 320, 627 167,812 240,668 268, 765 394,054 233,848 328,140 3, 806 18, 394 — 6 , 245 24, 348 - 3 , 606 15, 300 22,362 31,880 38,194 11,025 43, 684 21,971 27, 424 17,893 12, 439 13,323 10,983 15, 891 12,164 8,707 14,719 -17,846 12,407 7, 352 11,011 3,820 16, 852 18,172 8,790 15, 514 12,484 5,308 12, 743 10,249 9,703 6,895 5,827 203, 536 120, 953 918 16, 961 10, 079 16, 669 8,648 8,204 16, 983 6,908 10, 604 5,039 18,089 6,624 3,969 4, 556 11,718 3,675 21, 572 3,930 17, 365 5,207 2,226 1,186 13,215 3,864 1, 385 532 6, 914 137 0 13,645 1,772 745 8, 685 Debt Retirements 0 0 0 0 0 0 1, 673, 0 0 0 0 0 8 4 29 6 2,045 24, 695 5 0 0 0 5 30,000 27, 266 6,896 563 45, 011 45,110 45, 013 45, 009 45, 324 540, 280 125, 255 6i, 000 55, 000 55, 000 55, 000 63,000 56,000 56, 000 58,000 19, 403 2,200 800 0 135,107 0 47, 500 0 44, 500 0 43, 500 48,500 25, 719 48, 500 329, 599 452, 651 5,187 22, 458 89, 371 39, 286 11,307 6, 226 2,849 4,353 185, 557 69, 313 165, 291 54, 873 13, 576 17, 674 172, 710 46, 232 30,160 71, 009 1,814,155 868,401 606, 658 412, 630 461, 605 359, 864 573, 558 403, 240 103, 971 65, 465 151,180 72, 367 50, 555 34, 386 38, 467 29, 989 47, 797 33, 603 8, &'A 5,455 5,917 493 76, 851 9,637 8, 551 4,113 2,938 0 0 7 0 0 300, 001 7,420 1 4 0 0 0 96 1 4 2 31 0 29, 272 5,655 1,321 2,088 1 New series. Data are compiled by the U. S. Treasury Department and reported in the unrevised daily Treasury statement. The monthly data beginning with July 1931 have been revised to conform with the present Treasury classification. Earlier data are not available on the new basis. The figures shown here are for the general and special accounts and exclude trust accounts, increment on gold, etc. The General account includes departmental expenses; Recovery and relief includes agricultural aid, relief, public works (including work relief), aid to homeowners, and other miscellaneous relief items; Revolving funds (net) includes agricultural aid through the Farm Credit Administration, loans and grants to States, municipalities, etc., and loans to railroads; Transfers to trust accounts includes transfers to retirement funds and old-age reserve accounts; Debt retirement includes purchases and redemptions for the cumulative sinking fund, purchases and redemptions of specified bonds from cash repayments of principal and interest b y foreign governments under ratified debt "—™™^+" ^^A ~ ^ ^ — ^ ; — „<• ^^^^.-^^^ ^ — i ;„„,* <• +„+„ ±—„ «-,^ *—^:4..,— - • " - -•<-2 June figure includes some crop production loai 3 T h e $625,000,000 total for the fiscal year 1932 cc tion to the capital stock of the Federal land banks. 4 M i n u s sign (—) indicates excess of receipts. Table 23.—FEDERAL RECEIPTS, TOTAL ] [Thousands of dollars] Month January February March April May June July August September October 1933 ! 1931 120,5.31 114,802 3(50, 079 119,486 96,582 89,201 267,372 83,73: 84,603 235,456 87, 764 101,114 248,273 129,732 115,620 111,697 272,036 113,711 157,317 286,429 163,214 187,788 320,999 255,642 1935 210,954 205,750 420,103 182, 278 23fi,564 391,007 218,189 286,266 449. 445 259,884 202,801 214,128 600,748 227, 857 246,117 463,733 278,909 298, 745 420,811 235,435 1936 1937 227, 961 283,826 218,307 274, 577 751,698 1 ,011,740 230, 645 363,049 256,117 334,642 529.215 867,7uO 293,887 409.161 343,015 453,458 499,014 788, 072 272,172 332, 760 1938 334,709 349, 362 959, 404 272,629 375, 396 773,948 311,092 487,487 710, 603 331,965 Month 1931 1932 1933 1934 1935 1936 1937 1938 98,670 114,010 208,861 246,607 234,297 232, 774 327,130 381,644 November 335,191 341,992 332, 394 384,691 433,813 517,443 865, 633 704, 494 December F i s c a l year, total 2005,725 2079,69- 3115,554 3,800,467 4,115,95' 5293,840 6241,661 Fiscal year, monthly average 167,144 173,308 259,630 316,706 342,996 441,153 520,138 1 Revised series. Data are compiled by the U. S. Treasury Department and are on the basis of the unrevised daily Treasury statements. The figures comprise internal revenue, customs, and miscellaneous receipts but do not include trust accunts, increment on gold, etc. These latter items were included in the series shown in the 1938 Supplement to the Survey. 136180—39 3 18 SURVEY OF CURRENT BUSINESS April 1939 Table 24.—STOCK PRICE INDEXES, COMPANIES PRODUCING CAPITAL GOODS AND CONSUMERS' GOODS 1 [Monthly average 1926=100] 1926 1927 1928 1930 1929 1931 1932 1934 1933 1935 1937 1938 Month Capital Goods (107) January February... March April May June July August SeptemberOctober November_ December.. M o n t h l y average. 99.7 101.7 95.4 92.7 92.7 97.1 101.0 104.6 104.3 101.3 103.4 106.2 106.1 108.6 111.1 114.1 116.7 118.1 122.0 127.7 135.0 130.6 133. 6 141.1 143.1 139.9 143.7 150.7 154.2 147.6 147.4 153.5 165.1 170.3 186.5 189.8 217.5 225.1 231.3 224.3 228.5 233.7 258.7 274.6 281.7 249.2 180.3 184.1 192.9 207.2 213.0 219.6 198.7 176.1 169.7 167.9 170.4 141.5 129.5 121.3 120.0 129.9 133.0 118.4 98.6 93.8 98.6 &2.1 82.4 65.1 68.0 53.7 51.6 49.6 51.2 38.6 32.9 28.6 29.9 48.4 56.6 48.1 43.4 41.4 43.8 40.4 39.8 47.4 65.9 79.5 88.9 83.6 85.6 78.2 79.4 81.8 87.4 93.1 89.2 92.5 81.6 82.3 80.3 75.5 75.2 75.8 76.9 80.1 83.4 81.3 76.4 80.0 87.8 89.4 95.1 101.3 108.0 109.5 119.2 122.8 127.8 138.1 144.4 146.6 134.0 141.4 144.8 154.5 157.6 165.1 176.5 176.9 183.9 193.6 198.1 186.6 173.1 171.9 180.4 186.4 161.2 131.9 115.2 119.7 119.5 117.7 113.9 99.6 104. 0 101.4 127.8 129.3 126.1 136.7 142.6 139.4 100.0 122.1 157.7 232.4 175.7 96.1 43.4 67.9 82.5 96.2 150.6 166.8 121.5 Consumers' Goods (194) January February March April May June July August September October November December Monthly average. 103.5 103.9 95.6 90.2 89.5 94.9 97.6 103.8 105.6 103.2 104.5 107.5 106.9 108.6 111.3 115.1 119.5 120.8 123.1 129.6 138.3 138.1 141.9 146.8 149.1 147.1 156.2 166.3 170.7 164.0 164.1 170.8 183. 5 188.5 197.7 193.6 203.5 199.0 199.4 195.0 192.2 186.7 193. 5 195.2 198.4 175.3 130. 6 132.1 132.6 139.4 143.8 148.7 142.9 129.0 126. 7 126.4 128.7 111.3 103.9 99.9 101.9 111.2 115.3 108.9 99.2 95.4 98.5 97.2 87.5 70.8 74.1 61.8 61.7 60.9 62.2 49.7 42.7 36.6 37.0 52.7 58.2 52.1 48.3 46.8 48.5 44.8 44.0 50.1 67.0 76.8 84.5 81.0 81.7 75.2 73.7 76.3 80.4 87.0 82.8 86.5 78.2 79.1 78.2 74.8 75.2 77.7 79.7 82.6 83.1 81.3 78.1 79.4 83.6 85.7 91.4 95.5 98.1 99.7 108.0 107.9 112.1 116.6 118.7 119.6 112.7 117.3 120.8 121.9 123.8 128.4 135.0 130.3 129.6 132.7 131.3 126.4 118.4 114.0 116.5 121. 0 108.3 94.3 85.4 80.6 80.5 81.5 79.4 73.9 76.3 76.5 92.2 97.0 94.0 98.7 102.1 98.5 100.0 125.0 171. 0 183.4 127.8 93.5 50.7 67.0 80.2 91.0 121.4 113.2 87.6 1 New series. Compiled by Standard Statistics Co., Inc. Data represent a break-down of the Standard Statistics' industrial stock price index, shown regularly on p. 36 of the Survey. The indexes are based on 107 common stocks representing capital goods, and 194 representing consumer goods. Prices used are the closing prices for each Wednesday, averaged to obtain the monthly figures. Prior to April 1930 they were based on quotations for a different day each week, the selection of the day depending on the publication ^requirements of the compiler's weekly service. For further details regarding the Standard Statistics' stock price indexes, see the 1938 Biennial Supplement. Table 25.—CORPORATION PROFITS, STANDARD STATISTICS CO., INC. 1 [1926=100] With adjustment for seasonal variations Without adjustment for seasonal variations Quarter 1932 1933 1935 1934 1938 1937 1938 1932 1933 1934 1935 1936 1937 1938 Combined index Atarch June December.. Quarterly average ... 18.4 12.6 3 9 3.5 '3. 7 34. 0 1 35. 0 38. 8 50. 7 34 t\ 28. 2 43. 4 55. 2 50 2 78.8 64.0 92.5 84 4 115. 1 93. 9 110. 4 98.4 78. 7 32. 8 36. 8 38 5 72.5 9.6 29. 4 38. 1 56. 9 89. 0 95. 4 45.2 18.3 12.9 4.2 3.7 '2.5 32.0 50.9 36.3 39.3 46.6 34.2 29. 2 45.1 50.6 49 5 85.4 66.2 84.4 81 7 124.0 97. ? 101. 0 95 85. 4 '43.8 '3.5 29.7 12. 8 '7.0 '4.2 *9.0 2.5 '19.9 ' 10. 1 '4.0 34. 3 ' 12.8 3.0 31.0 68.5 13. 1 13. 8 19. 2 9. 0 35. ?, 34. 6 38 4 4 11ailroads (Class I) March June September December Quarterly average '32.3 Ml. 9 '23.1 8.3 ' 50. 4 '3. 8 38. 1 14. 0 '22.3 d20 0 f> 3 7 ' 25 7 '10.9 '2.8 37.5 ' 16. 4 2.7 39.7 74.8 9.1 12.5 24. 6 9.8 ' 63. 0 '44.5 2.0 34.1 '4. 3 '.5 25. 2 14.0 ' 17. (J '9. '4. '6. 2 ' 25.0 ' 38. 7 ' 32. 7 7.6 '49 '41 1 31 0 0 5 2 i Revised series. Compiled by Standard Statistics Co. Inc. The quarterly index of railroad earnings has been revised beginning with 1932 to include all Class I roads. The series prior to 1932 remains unchanged and is based on the earnings of 26 companies. In order to obtain comparability for the entire series thefiguresfor all Class I roads have been adjusted downward to the level of the 26 roads. The adjustment is based on the ratio of the 26 companies to all Class I roads for the period 1932-38. The combined index lias here been revised to conform with the changes in the railroad composite. ' Deficit. 19 SURVEY OF CURRENT BUSINESS April 1939 Monthly Business Statistics The data here are a continuation of the statistical series published in the 1938 Supplement to the Survey of Current Business. That volume contains monthly data for the years 1934 to 1937, inclusive, and monthly averages for earlier years back to 1913 insofar as available; it also provides a description of each series, and references to sources of monthly figures prior to 1934. The 1938 supplement may be secured from the Superintendent of Documents, Government Printing Office, Washington, D. C , for 40 cents per copy. A few series have been added or revised since the 1938 Supplement went to press. These are indicated by an asterisk (*) for the new series and by a dagger (f) for the revised series. A brief footnote accompanying each of these series provides a reference to the source where the descriptive note may be found. The terms "unadjusted" and "adjusted" used to designate index numbers refer to the adjustment for seasonal variations. Data subsequent to February will be found in the Weekly Supplement to the SURVEY. Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary 1938 February March April May June July 1939 August Novem- DecemSepber tember October ber January BUSINESS INDEXES INCOME PAYMENTS Adjusted index 1929 = 100-. Unadjusted index do._. Total mil. of doL Compensation of employees: Adjusted index.., 1929 = 100Total mil. of doL. Mfg., mining, and construction do Transportation and utilities .do Trade and finance __do Government, service, and other do Work relief do Dividends and interest do Entrepreneurial withdrawals and net rents and royalties mil. of doL. Direct and other relief., do-.._. Benefit payments under social Security Act mil. of dol_. INDUSTRIAL PRODUCTION 83.9 77.7 5,090 82.6 76.0 4,975 82.7 81.4 5,331 81.4 81.6 5,342 80.4 76.7 5,020 80.7 82.3 5,388 80.7 81.0 5,304 81.5 76.1 4,985 82.0 83.5 5,465 82.3 86.3 5,651 ' 84. 4 90.9 ' 5, 953 85.0 3,574 1,145 357 628 1, 254 190 420 81.4 3,420 1,071 355 632 1,216 146 442 81.0 3,448 1,064 369 630 1,221 164 720 80.1 3,457 1,035 359 644 1,239 180 752 79.5 3,456 1,022 359 635 1,251 189 440 79.4 3,458 1,006 360 629 1, 266 197 800 79.8 3,357 1,002 366 625 1,175 189 788 81.4 3,418 1,056 373 619 1,173 197 412 82.5 3,570 1,102 374 632 1,265 197 692 83.1 3,675 1,137 386 641 1,305 206 739 ' 86. 2 '85.5 '3,716 ' 3, 582 1, 166 ' 1,125 '374 '368 683 '638 1,290 ' 1, 258 203 ' 193 '779 1, 079 957 94 991 95 1,014 97 52 995 92 992 85 993 1,025 1,015 85 1,067 84 1,108 46 47 49 48 65 52 45 79 76 62 34 35 53 104 195 '55 85 84 143 98 57 68 80 77 63 46 44 55 107 191 '60 78 83 152 95 56 58 78 76 66 65 46 55 102 196 '62 76 76 146 91 47 52 168 104 97 79 75 62 57 35 50 102 195 ••55 86 79 157 103 53 64 65 170 106 92 79 75 54 65 42 49 104 191 '60 83 81 160 103 68 58 73 170 96 83 77 73 54 67 42 50 104 197 '62 84 74 159 101 45 74 170 96 77 75 52 86 72 46 87 192 '70 80 83 169 91 62 51 67 65 156 89 68 77 74 46 69 80 46 90 193 '70 81 87 154 92 71 57 34 64 153 91 70 81 79 45 87 69 58 101 199 81 79 90 167 92 39 55 78 52 165 84 64 83 82 43 71 77 62 103 200 '81 83 97 154 93 47 60 38 54 161 99 69 87 85 26 87 89 69 120 203 '90 77 103 172 97 38 62 76 44 170 104 69 88 87 45 67 64 172 77 75 59 82 47 51 96 197 '64 82 77 165 90 64 49 28 59 158 89 80 76 73 49 69 44 47 105 198 '64 84 77 163 91 64 57 19 60 156 92 91 89 26 86 107 75 119 206 '95 90 104 177 102 50 76 78 48 163 97 71 91 89 46 69 107 76 102 206 '95 98 103 160 97 50 71 4J 50 158 102 75 97 95 63 91 155 88 111 209 '99 94 103 161 106 63 79 86 52 163 101 78 96 95 84 80 155 90 101 208 '99 95 100 150 99 49 72 50 50 161 102 80 1,055 85 37 1,030 92 36 ' 1, 014 95 (Federal Reserve) Combined index, unadjusted 1923-25=100. Manufactures, unadjusted ..do... Automobiles . _do._. Oement do... Glass, plate do.__ Iron and steel ..do... Leather and products do.__ Petroleum refining! do._. Rubber tires and tubesf „ do Slaughtering and meat packing do... Textiles do.... Tobacco manufactures do Minerals, unadjusted _ . do Anthracite do Bituminous coal do Iron-ore shipments do Lead do Petroleum, crude.... do Silver do Zinc do.... Combined index, adjusted do Manufactures, adjusted do Automobiles do.... Cement do Glass, plate do Iron and steel do.... Leather and products . do Petroleum reflningf --do Rubber tires and tubesf __do Slaughtering and meat packing ..do Textiles do Tobacco manufactures do Minerals, adjusted do Anthracite do Bituminous coal do Iron-ore shipments.__ do Lead do Petroleum, crude _ .do Silver. ._ do Zinc. do.... MARKETINGS Agricultural products (quantity): C o m b i n e d index... 1923-25=100.- *>99 P98 98 48 133 91 83 115 147 v 104 v 66 75 » 164 93 98 80 133 87 9 122 109 83 109 162 P109 73 168 87 171 96 90 87 203 '90 89 110 161 95 38 64 37 46 167 105 74 103 103 56 64 72 72 77 73 92 92 117 131 Animal p r o d u c t s . do 64 63 75 79 93 90 85 89 83 D a i r y products _ .do 94 86 101 106 134 156 136 153 137 114 Livestock _ do 56 57 63 59 66 62 60 72 75 85 P o u l t r y and eggs _.do 70 66 97 116 119 102 79 73 68 76 Wool do 50 42 46 106 303 333 487 317 76 139 Crops. ..do 46 65 69 64 61 56 100 96 152 174 Cotton do 34 69 60 42 22 19 19 61 235 267 Fruits _ do 78 79 88 93 88 77 81 80 90 113 Grains _ do.... 38 48 59 63 72 68 205 155 110 128 Vegetables _. do 78 86 111 107 117 116 63 46 87 86 ' Revised. v Preliminary. tRevised series. Petroleum refining, unadjusted and adjusted, revised beginning 1934; revisions not given on p . 59 of the February 1939 issue will appear in a subsequent for FRASER Survey. R u b b e r tires and tubes, unadjusted and adjusted, revised beginning 1936; revisions not given here will appear in a subsequent issue. Digitized 20 SUKVEY OF CURRENT BUSINESS Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary April 1939 1938 February March April May June July 1939 August September DecemOctober November ber January BUSINESS INDEXES—Continued M ARKETIN GS—Continued Agricultural products, cash income from farm marketings: Crops and livestock, combined index: Unadjusted.... 1924-29=100. Adjusted do__. Crops do__. Livestock and products do... Dairy products do... Meat animals... do.._ Poultry and eggs .do... 51.0 60.0 44.5 76.5 85. 5 77.5 50. 5 54.0 62.5 49.0 76.5 95.5 75.0 54.0 60.5 67.0 55.0 79.5 92.5 77.5 66.0 58.0 70.5 60.0 81.5 88.5 75.0 68.0 60.5 67.5 58.0 77.5 84.5 71.5 75.5 61.0 72.0 66.5 77.0 80.5 76.5 76.0 72.0 82.5 86.5 78.5 82.0 80.0 75.0 72.5 72.0 63.0 81.0 84.5 82.0 75.5 85.0 72.5 61.0 84.5 86.5 87.0 75.5 '91.5 67.5 55.5 80.0 86.0 77.5 77.5 78.0 69.5 55.5 84.0 85.5 83.5 83.5 72.5 68.0 55.0 82.0 89. 5 78.0 81.0 182 204 307 168 191 117 88 111 188 214 319 172 194 108 96 109 193 226 326 171 199 101 100 108 196 240 320 185 202 102 94 99 204 259 324 192 199 107 92 103 222 287 323 184 218 115 102 129 223 281 316 168 221 118 104 146 208 241 309 172 195 119 105 163 202 217 305 179 199 126 105 169 194 202 297 172 188 129 102 169 191 201 269 164 192 127 105 167 WORLD STOCKS t C o m b i n e d index ( q u a n t i t y ) C o t t o n , adjusted-_. Rubber, a d j u s t e d . Silk, adjusted Sugar, adjusted T e a , adjusted Tin, unadjusted.. Wheat, adjusted. 1923-25= loo 126 20^ 28^ 14' 18< II 161 COMMODITY PRICES i COST O F LIVING (National Industrial Combined index Clothinsr Food Fuel and light Housing Sundries . Conference Board) - . 1923=100.. do do - -do do do 85. 1 72.4 78.4 86.9 86.1 96.7 86.7 76.0 80.1 86. 3 87.8 97.5 86.7 75.5 80.3 86.2 87.5 97.8 86.8 75. 1 81.1 85.7 87.2 97.6 86.5 74.5 80.8 83.7 87.0 97.6 86.7 73.9 81.9 83.7 86.7 97.5 86.5 73.5 81.7 84.1 86.6 97.4 85.9 73.4 80.1 84.4 86.6 96.9 85.9 73.3 80.4 85.0 86.6 96.8 85.8 73 2 79.8 85.6 86.6 96.8 85.6 73.2 79.5 85.9 86.4 96.8 85.8 73 0 80.3 86.0 86.2 96.8 85.4 72 7 79.2 85.9 86.2 96. 8 92 91 70 107 78 66 116 108 92 97 94 68 121 68 89 110 111 97 96 93 70 117 69 85 117 101 89 94 93 71 110 68 82 114 98 86 92 98 71 103 77 79 111 88 82 92 99 68 98 73 77 116 92 84 95 103 71 101 79 72 123 99 87 92 105 69 102 78 62 115 92 99 95 118 69 104 75 63 117 107 98 95 124 72 107 70 60 111 107 107 94 131 73 109 71 60 111 102 95 96 127 70 112 73 63 109 108 108 94 97 71 105 76.8 78.4 80.5 91.0 78.6 79.4 79.1 75.7 86.4 80.2 80.0 78.4 78.4 88.0 78.7 78.1 77.8 81.8 89 3 78.6 77. £ 89.1 91.2 90.6 90.2 89.5 89.2 89.0 89.0 89.0 89.0 88.9 88.9 89. 1 96.2 88.5 88.9 90.5 84.3 97.1 90.7 92.2 94.6 86.1 97.1 90.2 91.4 94.2 85.6 97.1 89.9 90.8 93.5 85,4 97.0 89.6 89.9 92.7 84.9 96.9 89.4 89.3 91.9 84.9 96.8 88.9 89.0 91.5 84.8 96.6 89.0 89.4 91.3 84.5 96.5 88.7 89.4 91.1 84.5 96.4 88.7 89.4 90 9 84.5 96.4 88.7 89.2 90.4 84.4 96.3 88.7 89 0 90 4 84.3 9G. [ 88 " 89 ( 90 .. 84.J PRICES RECEIVED BY FARMERS§ (17. «S. Department of Agriculture) Combined index 1909-14=100.. Chickens and eggs do Cotton and cottonseed do Dairy products _ _ -do Fruits -- --do Grains do Meat animals _. _ do Truck crops . do Miscellaneous do 7e 6f 115 9( 10? RETAIL PRICES U. S. Department of Labor indexes: Coal: Anthracite - 1923-25= 100.. Bituminous do Food -- - - do . . . Fairchild's index: Combined index Dec. 31, 1930=100.. Apparel: Infants' wear _ . do Men's do Women's ..do Home furnishings do Piece goods _ do WHOLESALE PRICES U. S. Department of Labor indexes: 78.8 76.9 78.7 78. 1 79.7 78.3 78. 1 77.6 Combined index (813 quotations).. 1926= 100.. 79.8 78.3 77.5 76. ( 77.0 Economic classes: 82.1 80.2 82.5 80 9 83.4 82.7 82.2 81.8 81.1 Finished products — __do 81.8 80 ( 83.3 80.5 70.7 72.3 70.9 73.2 71.3 71.4 71.4 Raw materials do 73.6 70.9 72.0 71.5 70. < 70.9 74.3 75.3 75.4 74.4 75.6 74.1 74.4 74.7 Semimanufactures do 76.1 75.9 76.2 74. ( 69.4 68.4 67.5 67. 2 68.1 69.8 70.3 68.7 67.3 67'6 66.8 67.8 Farm products do.. 67 54.7 66.0 62.3 58.3 Grains do 69.0 53.4 73.0 62.7 50.8 53.0 50.9 54.4 m. • 79.3 79.2 82.7 77.9 84.4 80.2 Livestock and poultry do 78.1 80.6 81.0 76.2 75.2 74.4 78. ( ,i 72.3 73 5 71 5 72 1 73 1 74 3 Foods do 73 5 73 0 74 5 74 1 73 1 73 5 69.1 69.5 76.7 71.7 Dairy products do 71.6 78.3 68.5 71.1 71.6 68.8 72.5 71. 73.9 58.7 56.8 56.4 Fruits and vegetables do 62.1 56.5 56.8 61.7 55.5 57.5 57.3 63.0 60. 4 82.1 83.2 82.2 Meats __ do 89.7 78.4 81.6 84.5 87.3 83.3 81.9 86.0 79.9 81. Commodities other than farm products and 80.2 81.4 foods 1926=100 82.6 82.0 81.6 81.4 83.0 81.3 81.3 81. 1 80.6 80 80 3 89.0 91.2 90.4 89.2 91.5 Building materials.. ...do 91.1 89.4 89.7 89.2 89.5 89.8 89.4 89.. 92.4 90.4 91.1 90.5 90.7 91.5 90.6 Brick and tile. . . do . 90.6 91.5 90.9 91.1 91.5 92.' 95.5 95.5 95.5 Cement do 95.5 95.5 95.5 95.5 95.5 95.5 95.5 95.5 95. 5 91 ' 92.6 91.1 91.3 91.0 90 2 89.3 88.8 90 2 Lumber do 88.7 90 4 90 a 90 3 76.3 79.1 77.5 76.8 Chemicals and drugs.. _ . do 78.7 76.3 77.7 77.7 77.3 76.6 77.1 76.7 79.4 83.6 81.9 81.2 83.2 80.6 81.7 Chemicals do 81.4 81.0 80.2 80.5 80.0 79 r 73.8 72.8 72.7 73.9 73.8 71.9 74.8 Drugs and Pharmaceuticals do 74.8 74.8 73.6 74.9 73.5 73'( 70.1 69.6 Fertilizer materials _ do 71.8 69.5 66.9 69.3 72.3 67.3 67.2 67.7 67.5 68.6 70. p Revised, §Data for Mar. 15,1939: Total 91, chickens and eggs 88, cotton and cottonseed 71, dairy products 100, fruits 81, grains 66, meat animals 116, truck crops 114, miscellaneous 83* fRevised series. Combined index of world stocks revised beginning January 1920; see table 5, p. 17 of the January 1939 Survey. (•,{). ( 21 SURVEY OF CURRENT BUSINESS April 1939 Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary 1939 1938 February March April May June July August September DecemOctober November ber January COMMODITY PRICES—Continued WHOLESALE PRICES-Continued (T. S. Department of Labor indexes—Contd. Commodities other than farm products and foods—Continued Fuel and lighting materials 1926=100.. Electricity.. do Gas do . . Petroleum products do Hides and leather products _ . do . Shoes do Hides and skins . do Leather do House-furnishing goods do Furniture do Furnishings do Metals and metal products . . . do Iron and steel. do . . Metals, nonferrous do Plumbing and heating equipment 1926=100.. Textile products.. _. do Clothing do Cotton goods ___. do .. Hosiery and underwear do Silk and rayon . . . _ do Woolen and worsted goods do.. . Miscellaneous do Automobile tires and tubes do Paper and pulp do World prices, foodstuffs and raw materials: Combined indexf 1923-25=100 Cotton . do Rubber. . . . do Silk do _ Sugarf do Tea do Tin . . do Wheat do . Wholesale prices, actual. (See under respective commodities.) 87.7 83.7 91.6 96.0 99.4 71.6 76.8 87.0 85.2 57.5 92.1 104.5 62.6 82.2 87.3 83.6 90.9 96.3 100.4 70.7 76.2 86.4 88.3 56.4 91.3 102.5 63.4 82.1 87.2 83.6 90.8 96.7 101.8 68.8 76.4 85.0 90.4 56.3 90.1 101.8 62.3 81.6 87.1 83.5 90.7 96.1 100.9 67.2 76.8 84.7 91.0 56.8 91.5 101.2 70.8 82.5 86.4 82.2 90.5 95.2 97.2 71.8 76.8 81.6 88.1 56.7 91.9 100.8 75.6 82.1 86.4 82.2 90.5 95.4 97.3 72.9 76.6 81.8 88.7 56.4 92.0 100.8 75.7 82 4 86 2 82 1 90 2 95.5 97.3 73 5 75.4 81.8 87.1 53.8 93.4 100.3 82.1 84 6 85.7 82.1 89 3 95.3 96.9 76.2 73.7 81.8 84.6 51.5 94.6 100 4 85.5 86 9 85.8 81.9 89 7 94.9 96.9 77 6 73.2 82.7 81.6 50.9 93.1 100.6 78.8 85.9 86.0 81.6 90.3 94.6 96.8 76.8 82.2 50.4 93.1 101.2 78.4 85.0 85.4 80.5 90.1 94.4 96.4 76.7 79.6 68.6 85.8 67.6 60.9 28.5 81.0 74.8 57.4 89.7 78.9 68.2 84.6 67.5 60.3 28.8 80.2 74.4 57.4 88.8 77.2 67.2 84.6 65.7 60.6 28.9 77.1 73.4 57.4 87.5 77.2 66.1 82.2 65.0 60.5 28.4 76.0 73.1 57.4 86.9 77.2 65.5 82.2 63.9 59.7 27.6 75.6 72.9 57.4 85.5 79.5 66.1 81.7 65.1 59.8 29.9 75.9 72.7 57.4 82.8 79.2 65.9 81.7 64.4 59.8 29.2 76.3 72.4 57.4 82.4 78.5 65.8 81 6 64 1 59.9 29 5 76.3 72 4 57.4 81 9 78.5 66.2 81 6 64.6 59.9 30.9 76.3 72 6 57.4 81 7 78.7 66.2 81 6 65.1 59.9 30 3 76.4 73 0 58.8 81 5 78.7 65.8 81.6 64.6 59.3 30.8 74.8 73.1 58.8 80.9 78.7 65.9 81.5 64.3 59.1 32. 1 74.5 73.2 58.8 81.0 37.8 33.1 37.3 29.5 30.9 67.0 90.8 41.1 45.2 32 7 34.5 22.2 28.3 77.4 82.1 82.5 41.9 32.7 31.7 22.8 27.1 76.0 81.9 69.6 40.7 32.4 27.7 22.6 26.0 76.9 76.3 68.5 38.8 30.9 27.1 22.4 26.2 75.3 73.3 62.9 39.6 30 9 29.4 22.5 27.1 70.9 80 3 64.0 41.2 32 7 36.0 25.3 28.2 70.5 86.3 62.4 39.1 30 9 37.7 24.3 28 1 76.3 86.1 53.9 38 29 37 25 28 78 86 50 3 8 8 2 9 4 3 2 37.8 31 6 39 6 25 9 26 8 72 9 90 0 46 7 37 33 38 25 28 66 92 42 5 5 0 2 8 0 0 3 36. 5 32 0 37.6 25.3 30 4 67.2 91 9 38 1 37.2 32 7 36 9 26.5 31 3 66.7 92 3 39 3 130.9 130.2 159. 7 119.5 126.2 127.6 151.5 117.2 126.4 127.2 153.1 117.2 128.0 125.9 156.5 117.2 128.9 126.4 159.7 117.5 128.6 124.7 159.7 117.2 127.8 125.0 154.8 117.5 128.9 127.6 159.7 118.3 128.6 127 1 154.8 118.3 129.8 128 0 154.8 118.5 129.9 128 5 156 5 118.8 130.8 127 2 153.1 118.5 130.9 129 0 156.5 119.0 73.0 50.7 91.9 101.1 72.8 84.2 85.2 80.5 89.8 94.3 96.1 76.5 78.5 89.6 82.9 58.0 94.7 104.6 74.6 84.4 88.0 83.7 92.2 96.0 99.3 72.1 77.7 86.8 83.4 57.9 93.6 104.6 69.5 79.2 66.1 81.5 63.7 58.8 34.7 74.7 73.5 59.7 81.1 72.8 PURCHASING POWER OF THE DOLLAR Wholesale prices Retail food prices . . Prices received by farmers Cost of living.. 1923-25=100 do _ . do _ do CONSTRUCTION AND REAL ESTATE CONTRACT AWARDS, PERMITS, AND DWELLING UNITS PROVIDED Value of contracts awarded (F. R. indexes): 62 44 65 61 46 59 63 Total, unadjusted 1923-25=100.. 85 79 70 49 28 49 44 35 43 46 Residential, unadjusted.. do 54 56 52 45 56 71 59 51 46 52 Total, adjusted do 51 54 96 78 66 82 86 96 49 37 33 37 55 42 Residential, adjusted do 32 56 56 53 55 57 57 F. W. Dodge Corporation (37 States): 17, 648 18, 770 16,926 14, 533 15,058 17, 565 18,194 9,261 Total projects. _ ..number.. 13,015 19, 664 17,772 16,027 13, 281 Total valuation thous. of dol_. 220,197 118,945 226,918 222,016 283,156 251,006 239,799 313,141 300,900 357, 698 301,679 389,439 251, 673 110,975 51,054 94,597 99,219 143, 700 107,777 97,838 171, 099 160,125 203, 359 178, 948 279,403 147,916 Public ownership _do 109,220 Private ownership do 67,891 132,321 122, 797 139,456 143, 229 141,961 142,042 140, 775 154, 339 122, 731 110,036 103, 757 Nonresidential buildings: 3,499 3,368 2,348 3,344 3,188 2,965 Projects number.. 2,303 3,416 3, 585 3,594 3,495 3,363 2,456 13,713 14, 429 11,579 Floor area thous. of sq. ft.. 12,783 8,436 13, 578 13,787 14,744 25, 503 14,351 15, 599 23, 223 21,515 77, 771 81,803 72, 563 87,316 91,997 131,020 116,008 139,513 Valuation thous. of doL. 69, 544 48,440 87,823 80,435 84,999 Residential buildings, all types: 6,266 10, 554 12,209 12, 757 13,488 11, 600 13,907 12,673 Projects number..' 9,669 12, 515 10,413 9,750 21, 579 23, 574 21, 781 27,177 Floor area _ thous. of sq. ft.. 19,176 10, 350 20,069 18, 732 20, 550 21,275 23, 405 22, 720 19,981 85, 682 87,978 99,732 99, 574 112, 673 95, 253 91, 539 80, 163 Valuation.. thous. of dol_. 79,020 79, 396 74, 577 83,153 40,023 Public utilities: 118 151 213 273 171 197 Projects number.. 274 335 330 288 258 500 43,699 5,149 10, 694 Valuation thous. of dol_. 18, 518 9,373 29, 509 13, 431 37,980 26,167 21,176 19, 726 44,312 Public works: 574 1,552 1,775 1,342 1,827 Projects number.. 725 1,080 1,592 1,342 1,619 1,675 817 1,828 78,533 Valuation., thous. of dol_. 53,115 74,832 25, 333 49,005 57,631 65,827 88,113 83,162 92, 829 70, 692 114,075 57, 002 Building permits issued in 1,728 cities:<? Total buildings __ number.. 37,078 56,264 34,731 60,878 61,974 61,292 56,695 64,462 63,173 52, 641 37, 586 38, 225 68.543 Total estimated cost thous. of doL. 146,065 99, 523 118,134 133,845 117,382 139,568 161,340 156,984 158, 083 158,083 142,907 143,336 151, 362 New residential: Buildings ...number.. 11, 152 12,302 13,766 14,427 11,750 13,720 15,545 14,535 15, 204 13, 638 10,719 11,276 54, 939 60, 652 63,260 Estimated cost.__ thous. of dol_. 87,808 32,090 87,538 87,188 78, 295 74, 693 63,863 71, 974 70, 851 91,186 New nonresidential: 10,875 Buildings number.. 5,669 9,677 10,974 9,671 5,753 10,745 11,818 12,137 13,169 10, 548 7,067 6,533 28,071 44,491 Estimated cost thpus. of doL. 34, 778 43,242 36, 626 42,596 41,349 42,889 45, 978 52,184 47, 436 59,010 56, 827 Additions, alterations, and repairs: 34,844 Buildings number.. 20, 221 22,081 37,632 37, 331 36,136 33,317 37,115 36. 558 40, 250 28, 578 19, 890 20,487 Estimated cost-, thous. of dol_. 24, 628 24,126 26, 900 30, 935 26,882 26, 651 27,477 25, 801 27, 942 21. 236 20, 620 22, 888 27,877 r Revised. fRevised series. Data on world prices revised beginning 1920; see table 4, p. 17, of the January 1939 issue. (?Data through December 1937 based on reports from 1,728 identical cities having populations of 2,500 or more. Subsequent figures are based on reports of a slightly smaller number of cities in the same size group, but comparability is maintained through the use of link relatives. These data supersede those shown in the 1938 Supplement, which were for approximately 1,500 cities. Data for 1936 and 1937 appear in table 11, p. 16, of the March 1939 issue. 22 SURVEY OF CURRENT BUSINESS Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary April 1939 1938 Februhry March April May June July 1939 August September DecemOctober November ary January CONSTRUCTION AND REAL ESTATE—Continued CONTRACT AWARDS, PERMITS, AND DWELLING UNITS PROVIDED—Con. Estimated number of new dwelling units provided in all urban areast: Total . _. number 1-family dwellings _ __ do._ _ 2-family dwellings do Multi-family dwellings do Engineering construction: Contract awards (E. N. R.)1--thous. of dol._ 203,84b 11,015 7,989 799 2,227 17, 676 13,460 1,330 2,886 18,931 14,102 1,309 3,520 19, 699 15, 611 1,213 2,875 20,977 16,063 1,253 3,661 26,064 15, 506 1,046 9,512 25, 913 17,342 1,412 7,159 25, 808 16, 214 1,156 8,438 23,648 16,857 1,290 5,501 22 064 14, 781 1,042 6,241 18 355 11,517 796 6,042 209,481 255,018 193,374 183,806 223,066 223,333 236, 271 289, 725 235,898 217,023 339,250 311,693 1,231 741 490 2,559 1,630 928 4,284 3,039 1,245 5,306 4,543 763 8,432 6,201 2,231 5,194 3,511 1,682 7,247 4,548 2,699 5,064 3,213 1,851 4,671 2,871 1,800 4,583 2,001 2,582 4, 270 2, 765 1,505 3. 190 2, 085 1,105 3,178 41,407 3,198 40,636 4,031 44,072 5,011 51,158 5,002 51,299 4,728 53,137 4,109 48,958 3,463 43, 373 3,337 38,572 3,122 36, 231 3,390 37,677 3 306 36, 294 6,276 106,645 194,162 6,923 113,842 208,018 7,667 123,958 227,012 8,031 129,160 236,044 8,991 135,164 254, 869 9,278 134,900 257,078 9,521 135,158 260, 494 9,418 133,337 256, 592 8,872 130,841 252,852 7,968 120, 453 234, 256 7,514 113,828 29] goo 7, 540 113,466 218,965 11,392 11,928 13, 577 14,465 12,419 13,384 10,690 11,674 12,090 12, 782 12,836 13, 676 11,416 12,136 12, 561 13, 370 12,112 12,877 13,930 15, 159 12, 794 13,867 13,572 14 587 44,758 46, 389 43, 369 44, 885 45, 275 46, 832 45,162 46, 755 42,452 43, 594 41,031 42,058 40, 399 41, 298 37, 676 38, 567 35,451 36,387 35,883 36, 808 35. 023 36. 026 36, 440 37 932 183 169 192 167 185 183 172 194 164 188 183 171 193 164 188 182 168 193 163 187 182 168 193 162 186 181 168 192 162 184 181 168 191 164 184 181 167 191 164 184 181 167 191 164 184 182 167 192 166 184 182 169 192 166 184 182 109 192 166 184 183 169 192 167 185 188 191 189 189 189 188 188 188 188 188 188 188 188 95.2 130.1 117. 6 119.1 96.0 127.4 114.8 118.8 96.0 126.5 114.6 118.8 95.9 126.5 114.6 118.8 95.8 127.0 116.1 118.7 96.4 129.2 116.1 118.6 96.4 128.2 116.0 118.3 96.1 129. 8 115.9 118.5 96.1 129.9 116.0 118.5 96.2 129.7 115.9 118.7 96.5 130.1 115.9 119.1 96. 1 130. 1 116.0 119. 1 95.3 130.0 117.6 139 1 97.5 132 7 122.3 120.1 98.2 128.7 118.8 122.8 98 2 127. 6 118.7 122.8 97.9 127.6 118,7 122.8 97.9 128.4 121.0 122.8 98.5 131.4 121.0 119.9 98.5 130. 3 120. 9 119.6 98.2 132.7 120.9 119.8 98.2 332 7 121.0 119.8 98.2 132 4 120.9 119.8 98.4 132 8 120.9 120.1 98 (! 132 8 121.6 120. 1 13>;> 6 122. 3 120. 1 96. 2 117.7 120. 4 97.5 127.9 115.4 121.3 97.5 127.2 115.1 121. 3 97.5 127.2 115.1 121. 3 97.5 127.5 116.8 121.5 98.1 129.6 116.8 120.8 97.8 128.1 116.2 119.4 96.7 128.9 115.6 119.8 96.7 129 0 116.2 119.8 96.8 128.9 115.6 120.1 96.5 129 3 115.6 120.5 96 ? 129 3 116.2 120.5 85. 7 122,2 106. 6 110.7 84.8 121.8 106.3 108.2 84.8 120.7 104.9 108.2 83.7 120.7 104.9 108.2 83.2 121. 0 105.3 108.0 84.3 121.3 105.3 106.9 85.3 121.1 105.4 107.4 85.6 122.3 105.4 108.8 85.6 122.8 105.4 108.8 86.0 122.6 105.4 109.9 87.4 122.4 105. 4 111.0 86. 3 122.4 105.4 111.0 85. 0 122.5 1(16. 6 110.7 82.5 121. 1 98.7 107.7 81.4 118. 7 99.5 103.1 81.4 118.1 97.7 103.1 81.1 118.1 97.7 103.1 80.4 118.3 97.4 102.8 80.9 118.8 97.4 102.8 82.2 119.3 97.5 103.3 82.3 120.0 97.5 105.1 82.3 120.5 97.5 105.1 82.8 120.4 97.5 106. 5 84.6 121.2 97.5 108.1 83.1 121.2 97. 5 108.1 81.6 121.3 98. 7 107. 7 234.3 239.0 238.8 238.0 236.8 236.9 232.3 232.4 232.7 234.3 234.4 234. 9 234. 7 HIGHWAY CONSTRUCTION Concrete pavement contract awards: 1,245 Total thous. sq. yd.. 686 Roads __ __ do_560 Streets and alleysc? do Status of highway and grade crossing projects administered by the U. S. Bureau of Public Roads: Highways: Approved for construction: 3,177 Mileage no. of miles _ Federal funds __ thous. of dol__ 35,968 Under construction: 7,721 Mileage __ ..no. of miles _ Federal funds.. -thous. of dol._ 114,185 221,046 Estimated cost do Grade crossings: Approved for construction: 13,613 Federal funds _ _ do 14, 285 Estimated cost do Under construction: 37, 930 Federal funds do 39, 777 Estimated cost do CONSTRUCTION COST INDEXES Aberthaw (industrial building) 1914 = 100. _ American Appraisal Co.: Average, 30 cities 1913 = 100 Atlanta do New York _ . do.. . San Francisco do St Louis _ ... do _ Associated General Contractors (all types) 1913=100.. E. H. Boeckh and Associates, Inc.: Apartments, hotels, and office buildings: Brick and concrete: Atlanta U. 8. av., 1926-29 = 100... New York _ __ do San Francisco.. _ do.. . St. Louis do Commercial and factory buildings: Brick and concrete: Atlanta . do . New York do San Francisco _ ._ d o . St. Louis do Brick and steel: Atlanta do New York do San Francisco __ do St. Louis do Residences: Brick: Atlanta do New York._ do San Francisco _ do St. Louis . do. _. Frame: Atlanta .. do New York do San Francisco do St. Louis do Engineering News Record (all types) § 1913 = 100.. REAL ESTATE 194 192 ]gq 189 97.4 120 4 117.7 120.4 Federal Housing Administration, home mortgage insurance: Gross mortgages accepted for insurance 61,775 74,191 18, 866 39, 903 63, 267 60,419 64, 627 58, 250 67,878 68, 344 51,058 42, 218 thous. of doL. 41, 224 Premium paying mortgages (cumulative)-do.. 1,400,212 880 35^ 902. 634 928, 433 958,471 997, 850 1,038.627 1,082,454 1,131,404 1,189,823 1,244,141 1,300,446 1,355,829 §Index as of Mar. 1, 1939, is 234.4. JData for March. June, September, and December 1938 are for 5 weeks: other months, 4 weeks. cf Data for streets and alleys, formerly shown separately, are available in total only subsequent to December 1938. JData in process of revision and will be shown when available. 23 SURVEY OF CURRENT BUSINESS April 1939 Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary 1938 February March April May June July 1939 August September October Novem- December ber January CONSTRUCTION AND REAL ESTATE—Continued REAL ESTATE-Continued Estimated new mortgage loans by all savings and loan associations:! 72,931 72,279 65, 218 64,070 63,934 Total loans thous. of dol_. 58,309 74, 709 50,093 73,307 73,067 67,639 71,647 Loans classified according to purpose: Mortgage loans on homes: 22,099 16, 648 19,892 16,027 19,400 19,096 16, 099 Construction. do 11,669 17,710 22,575 18,627 19,152 21,018 24,677 21,056 24,123 25,636 19,118 21, 924 17, 503 16,117 25,494 23,833 21,205 20, 826 Home purchase do 25,698 12,913 15, 281 14,391 13,885 13,194 11,749 11, 293 15, 772 14,701 12,182 12, 805 Refinancing do._._ 12, 551 12,416 5,727 5,416 4,953 5,211 3,593 5,397 3,662 5,683 5,528 4,821 4, 025 3, 889 Reconditioning do 4,791 8,059 7,515 8,170 8,443 7,020 8,028 7,352 8,648 8,072 7,235 7,126 0, 827 Loans for all other purposes do 7,724 Loans classified according to type of association: 26, 534 24,721 23,356 26,310 26,107 20, 894 17, 520 23,823 24, 220 Federal. thous. of doL. 22, 298 26,858 25, 650 25,019 30, 546 31,196 27,835 30,350 23, 071 22,073 30, 238 28,973 26,115 29,506 29,255 26, 504 State members _.do..._ 24,191 15,851 16,362 11,602 10,500 14,027 16,407 14,843 13, 735 16,962 18,345 16, 742 11.820 Nonmembers _-. do 12,411 Loans outstanding of agencies under the Federal Home Loan Bank Board: Federal Savings and Loan Associations, estimated total mortgages outstanding thous. of doL. 1,051,109 874,800 895,300 919, 700 830,300 947,500 961, 300 976,074 994, 218 1,011,087 1,020,873 1,034,162 1,040,770 Federal Home Loan Banks, outstanding advances to member institutions thous. of doL. 170, 614 187,498 183,105 183,747 186, 507 196,222 191,889 189,415 189, 548 189,217 189,685 198,840 178, 852 Home Owners' Loan Corporation, balance of loans outstanding .thous. of dol— 2,134,263 2,348,025 2,323,995 2,301,894 2,281,884 2,265,153 2,248,982 2,234,899 2,221,417 2,203,896 2,186,170 2,168,920 2,149,038 Foreclosures: 154 195 189 161 172 194 153 191 169 169 165 159 154 Nonfarm real estate 1926=100.. 176 177 138 157 181 153 142 161 177 157 155 151 Metropolitan communities.. do..-. 145 29,051 19,474 26,473 22,918 24, 798 25,615 20,435 20,821 32. 758 23, 373 28,659 Fire losses thous. of dol._ 29, 304 27,615 DOMESTIC TRADE ADVERTISING Printers' Ink indexes (with adjustment for seasonal variations): Combined index 1928-32=100.. Farm papers. _ do Magazines __ do Newspapers do Outdoor do Radio _ do Radio advertising: Cost of facilities, total thous. of doL. Automobiles and accessories do Clothing do..... Electric household equipment do Financial. do Foods, food beverages, confections do House furnishings, e t c . . . . . . . do Soap, cleansers, etc... ..do Office furnishings, supplies.. do Smoking materials ...do Toilet goods, medical supplies.._ do All other do Magazine advertising: Cost, total... do.... Automobiles and accessories ..do Clothing „ ....-do Electric household equipment -do Financial do Foods, food beverages, confections do House furnishings, etc do Soap, cleansers, etc do Office furnishings, supplies do Smoking materials _ do Toilet goods, medical supplies. do All other do Lineage, total thous. of lines.. Newspaper advertising: Lineage, total (52 cities) . do Classified do... Display, total do._... Automotive do Financial .do General _. _ do Retail ...do 265. 6 81.2 67.4 82.1 75.7 72.5 260.9 83.7 59.8 81.5 77.8 91.5 253.2 82.4 69.6 79.9 76.7 91.3 226.5 80.0 67.2 75.0 74.7 85.0 250. 5 79.5 66.8 73.0 74.8 76.6 281.0 77.4 55.8 74.7 72.5 74.7 261.0 80.3 79.3 74.5 75.2 77.0 274.7 82.1 58.8 73.5 78.9 76.9 260.0 78.4 64.7 73.6 73.8 77.7 242.3 6, 567 617 33 0 53 2,194 39 691 0 796 1,859 285 6,432 813 23 64 48 2,083 2 600 0 687 1,738 375 7,074 850 23 71 54 2,408 2 682 0 797 1,849 337 5,924 682 19 90 36 2,107 1 626 0 674 1,489 252 6,051 639 56 87 22 2,122 0 662 0 724 1,482 257 5,524 557 34 72 27 1,949 0 647 0 678 1,374 187 4,493 374 33 10 22 1,434 0 580 0 616 1,236 188 4,530 352 37 0 27 1,380 0 624 0 672 1,242 195 4,781 447 30 0 21 1,543 0 611 0 655 1,308 166 6,509 626 18 0 19 2,103 48 626 0 853 1,851 365 6,713 600 18 0 11,536 1, 475 495 195 376 2. 099 '377 500 148 591 2, 183 3,096 2, 294 11, 465 1,125 441 239 484 1, 937 370 529 182 685 2,476 2,998 2,144 14,136 1,716 738 493 423 2,339 684 433 216 853 2,685 3,557 2,404 15, 733 2,272 977 839 392 2,254 877 440 211 818 2,550 4.104 2,628 14,564 1,968 898 657 410 2,035 954 396 206 914 2,173 3,953 2, 658 11,316 1,474 706 365 356 1,657 560 418 122 777 1,894 2,987 2,202 8,411 1, 268 257 98 311 1,654 217 284 41 651 1,540 2,090 1,602 7,380 888 341 19 266 1,353 130 275 116 705 1,344 1,943 1,472 0,846 769 822 136 341 1,516 599 355 228 734 1,642 2,703 2,112 13, 668 1,630 1,022 342 444 2,073 862 398 223 889 2,261 3,524 2,318 13, 412 2,142 689 312 426 2,143 679 363 225 829 2,210 3,394 2,251 11,529 1, 295 531 470 299 1, 931 509 234 266 1, 815 3, 424 1, 658 r 8. 023 1,186 272 67 320 ' 1, 457 194 '211 122 654 1, 266 r 2, 274 1, 929 86, 651 18,318 68, 333 3, 458 1,403 14, 024 49, 448 88,457 108,919 109,917 109,906 19,187 23, 404 22,646 22, 695 69, 270 85, 514 87, 271 87,211 4,347 2,611 5,081 5,676 1,459 1,493 1,918 1,396 15,273 17, 544 17, 505 18, 310 63.960 61, 830 49, 892 60,971 98,519 21, 331 77,188 4,340 1,556 16, 253 55, 039 83,653 20,301 63,352 3,031 1,869 13,028 45, 421 86,102 20,808 65,293 2,623 1,201 12,175 49,295 103,869 21,376 82,493 2,366 1,209 15,888 63,031 113,558 113,457 22,411 20, 233 91,147 93,314 4?932 6,608 1, 732 1,449 18,411 18, 749 66, 073 66,509 118,096 20, 372 97, 723 3,581 1, 574 14,028 78, 540 87,418 19, 556 67, 861 2, 446 2,301 12,771 50, 343 69.3 18.2 68.4 19.3 59.9 78.4 74.2 65.7 82.0 79.9 65.9 257.6 2,157 39 674 0 861 1,990 349 88.0 70.3 78.8 86.0 71.0 261.7 76.4 57.6 72.6 71.5 72.2 273. 6 6, 754 626 10 0 21 2, 301 39 653 0 853 1,977 273 7,023 647 25 0 41 2,318 49 714 0 836 2,045 348 r GOODS IN WAREHOUSES Space occupied, merchandise in public warehouses percent of total.. 69.! 69.7 69.9 70.9 NEW INCORPORATIONS Business incorporations (4 States) number.. 1,821 1,787 2,094 1,910 1,940 1,877 1,774 1,818 1,614 1,723 1,793 1,943 r Revised. fRevised series. For revised data on estimated new mortgage loans by all savings and loan associations, 1936-37, see table 12, p. 16, of the March 1939 Survey. 2,210 24 SUKVEY OF CURKENT BUSINESS Monthly statistics through December 1937, together with explanatory notes and references to the sources of the data may be found in the 1938 Supplement to the Survey 1938 1939 February April 1939 February March April May June July 1939 August September October Novem- December ber January DOMESTIC TRADE—Continued POSTAL BUSINESS Air mail: Pound-mile Derformance millions Money orders: Domestic, issued (50 cities): thousands Number_. - - thous. of dol.Value _ Domestic, paid (50 cities): Number ._ . .thousands.. thous. of dol.. Value .. . do Foreign, issued—value Receipts, postal: 50 selected cities _ thous. of dol . do 50 industrial cities 1,057 1,279 1,156 1,303 1,255 1,199 1,273 1,235 1,299 1,252 1,431 4,140 36, 900 4,030 37, 555 4,515 42, 566 4,168 40,039 4,002 38, 111 3,956 37,450 3,720 35,862 3,842 37,238 3,775 36,651 4,170 39,485 4,067 37, 996 4,654 42, 202 4,234 39, 227 12, 371 88, 734 11,932 89,070 2,167 14.697 111, 332 3,163 13,312 100,887 2,556 12, 789 97, 283 2,070 13,366 100, 250 2,220 11,975 92, 785 2,151 12, 543 98,006 2,097 12,846 99, 470 2,606 13,989 107,933 1,985 14,028 106,097 2,280 15,793 113,841 7,717 12, 939 94,176 2,142 27, 710 3,493 27,046 ' 3,360 31, 792 3,881 29, 564 3,641 28,247 3,485 28,007 3,500 24,602 3,303 26,609 3,446 29, 517 3,472 30,850 3,728 31, 426 3,568 42, 470 5, 154 28, 537 3,667 RETAIL TRADE* Automobiles: New passenger automobile sales: r 49.2 '99.1 65.0 61.4 '96.1 37.1 '55.1 71. 1 76.0 80.5 75.5 53.6 Unadjusted 1929-31 = 100.. v 71.4 50.5 54.5 ' 100. 0 56.5 '85.0 P98.5 61.0 60.0 57.0 60.0 ' 91.0 74.0 Adjusted . . . .. . do ' 92. 5 Chain-store sales: Chain Store Age index: Combined index (20 chains) r 106.3 106.0 108.1 109.5 112.9 108.0 103.3 105.0 107. 5 108.8 103.3 109.4 106.4 av. same month 1929-31 = 100.. 121.2 109.7 116.0 120.0 116.0 120.0 127.0 112.8 109.4 122.0 112.7 Apparel chains _^ _ _. do 108.8 118.0 Grocery chain-store sales: 93.6 89.2 88.5 96.7 98.4 94.4 101.1 94.1 93.0 93.2 95.6 95.0 94.9 Unadjusted 1929-31 = 100.. 92.2 92.2 91.0 96.7 96.1 91.7 94.4 97.9 94.7 93.6 94.9 Adjusted . do 93.6 98. 1 Variety-store sales: Combined sales of 7 chains: 102.2 90.9 85.2 88.0 94.1 193.6 73.6 79.2 81.7 95.2 90.7 98.2 Unadjusted 78.6 do . 95.7 100.2 98.9 96.3 104.9 92.9 96.7 98.7 do... 94.8 94.1 97.2 90.7 98.5 Adjusted H. L. Green Co., Inc.: 2,496 2,819 2,366 2,315 5,952 1,998 1, 959 2,156 2,787 2,383 2,513 2,833 Sales 1,780 thous. of dol 133 133 133 133 133 132 132 132 133 133 132 133 131 Stores operated number S. S. Kresge Co.: 11,972 10, 643 10,004 24, 114 10,179 8,801 11,125 12, 353 9,058 10,053 11,965 10, 253 8,914 Sales thous of dol 680 681 682 686 687 680 685 681 681 685 681 681 681 Stores operated number S. H. Kress & Co.: 6,235 6,613 14,429 5,822 6,336 6,827 5,055 6,671 5, 163 6,054 6,507 6,179 5,358 Sales.. thous. of dol. . 239 239 238 238 238 238 236 239 234 236 238 238 238 Stores operated number McCrory Stores Corp.: 3,186 3,200 2,946 2,960 7,003 3,294 2, 535 3,005 2,909 2,641 3,493 2,955 2,738 Sales thous. of dol.. 200 200 199 200 202 200 201 200 200 202 201 201 201 Stores operated number G. C. Murphy Co.: 3,294 3,594 3,301 2, 685 3,087 3,811 '7,223 2,752 2,782 2,489 3,652 3,160 3,308 Sales thous. of dol. . 201 201 201 201 201 201 number 201 201 200 201 201 '200 201 Stores operated F. W. Woolworth Co.: 22, 733 23,149 25,295 50, 379 19, 653 22,566 23,491 26, 774 22,055 25,926 22, 714 Sales thous. of dol_. 20, 686 20,054 2,010 2,018 2,010 2,014 2,011 2,017 2,012 2,017 2,012 2,011 Stores operated nnmbftr 2,011 2,007 2,013 Restaurant chains (3 chains): 3,054 3,017 3,275 3,193 3,460 3,269 3,384 3,324 3,081 3,246 Sales thous of dol 343 343 336 338 341 340 337 342 340 Stores operated 343 number., Other chains: W. T. Grant & Co.: 6,971 5,531 6,834 8,635 17, 996 7,608 8,970 8,061 7,214 5,748 6,530 7,658 ' 5, 522 Sales thous. of dol 484 489 491 489 483 484 487 484 nnmhflr 489 481 481 480 481 Stores operated J. C. Penney Co.: 18, 258 16, 523 20, 322 38,928 26,820 27,196 17,043 19,068 22,381 18,853 20, 371 Sales thous. of dol.. 14, 613 '13,438 i 1,539 1,539 1,531 1,530 1,539 1,538 1,533 1,528 1,540 1,526 1,527 Stores operated . . . _ . number 1,524 1,537 Department stores: Collections: Installment accounts 17.2 16.4 14.9 17.0 15.4 15.9 17.0 15.8 percent of accounts receivable.. 16.8 16.1 15.7 15.3 47. 1 43.5 42.4 47.1 46.4 45.2 46.6 Open accounts _ do 45.1 44.9 45.2 42.0 42.8 69 99 79 58 65 91 156 92 69 77 86 80 70 Sales, total U. S., unadjusted—1923-25=100.. 91 79 126 203 94 100 126 101 101 110 107 120 Atlanta rfn 99 86 138 ' 64 74 46 55 55 73 67 67 86 78 Boston 54 do 60 72 96 157 69 82 87 80 96 91 67 86 Chicago do 68 67 59 93 75 65 89 152 71 79 76 89 87 doCleveland _ 70 87 72 118 182 90 83 97 103 117 113 89 91 100 Dallas . . do 67 61 89 74 151 72 84 92 64 86 79 88 Kansas City 66 1925—100 75 68 81 96 147 92 93 97 85 109 64 107 63 Minneapolis __ . . . .1929-31 = 100 62 164 68 85 64 106 94 98 71 74 77 88 81 New York 1923-25=100 r 49 82 46 127 63 48 59 61 75 ' 54 66 67 52 Philadelphia do 81 72 118 ' 77 103 209 97 110 99 110 127 74 76 Richmond do 58 143 69 95 69 63 92 78 85 77 93 69 St. Louis do 73 102 80 77 81 86 162 90 87 82 91 San Francisco 76 78 . . do 83 89 82 83 89 88 86 83 84 78 86 do.... 88 Sales, total U. S., adjusted 87 111 1 to 119 104 109 105 113 128 106 106 115 112 127 Atlanta -do 91 86 83 88 84 87 95 82 82 79 93 do.. 85 84 Chicago 74 88 88 93 78 78 79 86 82 87 85 88 78 Cleveland do 103 105 101 105 114 104 99 108 105 Dallas do_ 103 100 107 105 91 96 97 96 93 93 98 82 92 88 98 Minneapolis 1929-31 = 100.. 87 86 89 92 90 90 84 New York 1923-25=100 89 91 86 86 88 89 86 85 r 65 68 70 63 68 62 69 61 61 65 68 68 Philadelphia do 82 85 87 75 70 84 82 83 81 77 87 St. Louis .- _do 81 do 89 96 9") '94 89 91 90 90 90 San Francisco 88 93 90 79 Installment sales, New England dept. stores o r 9.4 10.3 7. 1 11.6 7.3 14.7 11. 1 percent of total sales._ 9.3 8.6 11.S 11.5 11.2 Stocks, total U. S., end of month: 78 6'J 60 Unadjusted 1923-25 = 100 65 61 65 71 71 74 71 70 67 67 6(5 67 67 69 67 70 69 68 67 67 do.... Adjusted70 ' Revised. p Preliminary. •The following reports, showing percentage change? in sales, are available at the Washington, D. C , office of the Bureau of Foreign and Domestic Commerce, or at any of its District Offices: (1) Chain drug scores find chain ;nens wear stores, (2; Independent stores in 27 States and 4 cities, by kinds of business, (3) Wholesalers' sales, by kinds of business, (4) Manufacturers' sales, by kinds of business. 25 SURVEY OF CURRENT BUSINESS April 1939 Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the February 1938 Supplement to the Survey 1939 1938 February March April May June July DecemOctober NovemAugust September ber ber January DOMESTIC TRADE—Continued RETAIL TRADE-Continued Mail-order and store sales: Total sales, 2 companies thous. of doL_ Montgomery Ward & Co __.do Sears, Roebuck & Co. _ do _ Rural sales of general merchandise: Total U. S., unadjusted Middle West East South 1929-31 = 100.. do do do Far West do Total U. S., adjusted— Middle West East do do . South Far West do _„ do do 59, 865 24, 964 34,901 52, 214 21,765 30,449 71,868 30, 7D7 41,071 81, 920 37, 063 44, 857 79, 613 36,150 43, 463 79, 565 35, 745 43, 820 65, 392 29. 075 36, 316 72, 783 32,849 39, 934 87,722 38, 556 49,167 100,012 46, 667 53, 345 93, 510 42, 295 51, 215 125,706 57,085 68,622 58,320 24,769 33,551 100.1 89.1 97.9 134,8 105.7 110.6 103.0 107.0 134.8 133.8 90.4 8J 6 91.5 118 3 91.2 99.9 94.3 100.0 118 3 115.4 98.4 89 8 102.8 120. 4 100. 8 105. 8 99 8 109, 4 129 4 115.2 107.9 99 2 114. 6 121 6 116.2 112.3 100 8 115. 2 131.4 125. 6 103. 5 96 1 104. 7 113 7 119. 3 110.1 99 1 107.4 127.8 132. 5 106.2 99 4 107. 5 112 0 125. 8 112.4 101.9 110. 2 130. 2 133.1 84.8 77.7 82.2 92.9 105. 8 110.2 99. 6 104.7 133. 7 127.4 98.2 90.0 95.0 104.1 125. 7 114.2 102.9 107.4 136.9 136.6 121.1 107.9 117.6 148.9 141.6 122.4 108. 4 125. 8 145. 3 121.0 140.9 123.3 139.8 189.3 153.4 115.5 104.0 118.0 137.7 131.1 147.2 135.7 144.1 177.8 161.5 119.7 110.4 125.9 133.7 134.0 183.6 166.4 195.9 202.8 211.0 129.3 117.2 137.5 146.9 138.3 91.3 84.1 87.8 111.3 100.2 110.0 102.6 104.5 134.1 134.5 88.8 75.3 89.5 79.0 90.5 82.1 91.2 83.1 '89.5 '81.6 EMPLOYMENT CONDITIONS AND WAGES EMPLOYMENT Factory, unadjusted (U. S. Department of Labor) t - — .1923-25=100.. Durable goods . do Iron and steel and their products, not incl. machinery 1923-25=100 Blast furnaces, steel works, and rolling mills 1923-25—100 Hardware.-- ._ do Structural and ornamental metalwork 1923-25=100.. Tin cans and other tinware Lumber and allied products Furniture. _. Lumber, sawmills .do do do do Machinery, not incl. transportation equipment 1923-25=100 Agricultural implements (including tractors) 1923-25-100 Electrical machinery, apparatus, and supplies 1923-25«=100 Engines, turbines, water wheels, and windmills 1923-25=100__ 90.7 82.6 88.2 80.1 87.7 79.3 85.7 77.0 83.4 75.0 81.6 72.4 81.9 70.3 85.7 71.7 87.2 85.3 84.4 82.3 80.7 77.8 76.7 79.4 81.7 83.9 86.5 87.4 '85.9 91.5 82.9 92.7 71,8 90.9 70.5 88.2 64.9 85.8 63.5 82.3 61.3 '82.2 56.5 ••83.8 60.6 '84.7 66.9 86.1 79.5 89.8 84.4 91.1 86.3 '90.9 '84.7 63.8 83.8 62.3 78.7 48.9 63.7 86.9 60.6 74.8 48.3 62.0 88.3 62.3 74.6 61.0 61.2 88.7 61.6 71.8 51.0 59.7 87.5 61.0 70.0 51.1 58.3 88.9 60.7 70.8 50.1 59.1 91.4 60.7 71.2 49.8 59.8 99.5 64.0 76.0 52.4 60.5 97.6 65.8 79.0 53.5 61.1 86.2 65.7 79.7 53.1 60.7 84.6 65.2 79.5 52.3 61.9 84.1 64.1 79.8 50.9 '61.7 '82.8 '61.9 76.3 '49.1 93.4 99.7 96.9 89.7 86.1 82.9 84.1 85.5 87.2 89.5 91.8 91.5 119.9 152.8 150.3 147.8 133. 8 125.2 100.6 99.8 90.3 93.7 96.6 105.0 110.9 83.8 89.9 86.5 81.6 78.1 75.3 73.0 74.0 77.4 80.7 83.2 '83.9 '82.3 90.9 91.4 89.4 92.4 90.1 85.5 82,1 82.6 83.1 83.4 83.5 85.3 87.1 83.3 103.2 93.5 98.8 66.5 48.0 89.7 96. 5 105.2 98.4 112.2 116.1 112.3 116.4 319.1 111.3 141. 6 94.4 96.6 97 2 105.9 106.3 81.3 65.8 100. 9 91.9 119.4 62.7 91.3 83.4 89.1 84.4 88.0 91.2 63.0 42.9 85.4 79.9 82.1 95.9 115.1 117.3 112.2 121.7 307. 3 113.3 141.9 97.0 93.5 96.0 106.1 106.0 74.1 63.1 94.7 83.1 119.8 63.2 88.9 81.0 87.1 76.1 86.9 90.5 63.7 43.8 83.5 77.4 79.3 95.8 115.1 113.4 113.5 121.2 312.1 112.0 141.7 93.0 94.2 97.2 105. 3 105.4 72.9 61.7 95.0 82.2 122.7 63.8 87.4 79.0 83.5 77.9 84.2 88.8 65.4 47.0 81.6 71.9 72.9 94.0 112.4 111.4 114. 2 121.3 283.0 112.6 141.8 91. 5 92.1 95.0 104.6 104.3 72.7 61.2 91.8 79.5 118.5 63.4 85.4 76.2 81.0 76.3 81. 8 87.3 66. 0 48.4 80.7 68. 2 68.6 91.5 108.8 109. 6 114.9 120. 9 283. 8 113.6 141.8 91.9 86.0 87.6 103.4 102,9 71.4 60.4 87.4 78.0 107.2 63. 8 83.7 74.1 77.4 81.6 79.8 85.7 65.8 48. 3 79.3 62.4 61.5 90. 3 105. 2 109.7 113.0 121.1 265. 4 119. 4 144.2 93.5 81.8 82.5 101.9 101. 9 70. 6 60.4 84.6 77.2 99.7 64.8 82.4 71.9 75.8 81.6 79.1 86.1 64.6 48.8 74.7 55. 5 53.1 92.9 105.0 107.8 110. 8 121.8 270. 5 128. 6 145.0 94.7 89.3 91.4 101.5 101.6 68.7 60.7 86.6 80.4 98.9 61.5 82.9 70.7 77.1 88.9 83.0 89.0 66.3 49.9 78.7 51.0 48.0 99.0 108.1 110.3 110.6 121.9 293.9 138.3 144. 5 94.2 92.7 94.6 102.7 102.8 72.5 60.6 95.1 85.1 116.3 64.3 84.9 72.0 77.7 93.5 87.9 92.7 67.8 51. 2 82.1 63.7 64.9 ' 101. 7 113.0 112.5 112.5 121.0 315. 2 142.7 145.6 95.5 92.3 93.8 104. 3 104.0 75.9 61.9 97.9 86.6 122.1 66.3 86.9 75.7 77.5 108.0 92.2 96.4 70.1 52.0 87.5 79.4 86.3 99.4 113.4 114.8 112.9 119.5 314.4 128.8 144.3 97.4 89.6 89.9 105.5 104.8 77.7 63.5 97.5 87.2 119.6 66.3 87.5 '77.9 78.9 118.8 95.4 100.5 71.6 52.4 92.1 91.6 101.9 '98.4 113.0 117.2 112.4 118.9 312.8 123.4 144.6 100.7 84.8 83.3 107.0 105.9 82.4 66.1 96.9 89.5 112.0 66.9 90.0 '81.3 81.7 118.0 '95.0 100.2 70.5 51.3 93.0 96.1 r 106. 8 98.8 112.7 116.9 112.4 118.1 311.3 120.1 143.5 102.4 88.6 87.6 108.0 106.3 83.6 67.2 98.6 91.8 112.2 65.2 91.6 83.2 '81.8 ' 108. 4 '92.4 '98.3 '66.4 '48.9 '89.6 '95.8 ' 106.2 '97.0 '111.9 115.5 '111.8 117.1 ' 313. 2 ' 113.7 ' 140. 3 '99.8 '92.9 '92.7 ' 105.7 ' 105. 5 '81.1 67.1 '97.5 '90.8 '111.0 '59.2 '91.7 '83.6 machinery _. 1923-25 = 100 Blast furnaces, steel works, and rolling mills __. 1923-25 = 100.. Hardware ._ do 87.6 85.7 83.8 81.6. 80.2 77.8 '77.3 79.4 '80.9 '83.1 '86.2 88.1 '87.7 91 82 92 71 90 70 87 64 85 63 83 61 83 57 84 62 85 67 '86 79 90 84 92 86 92 85 1923-25 = 100Tin cans and other tinware do Lumber and allied products do Furniture. do Lumber, sawmills do Machinery, not incl. transportation equipment 1923-25 = 100.. Agricultural implements (including tractors) 1923-25=100., Electrical machinery, apparatus, and supplies 1923-25 = 100 66 90 65.3 80 52 66 93 63.6 76 52 64 93 63.4 76 52 62 92 61.9 74 50 60 89 60.9 73 50 58 87 59.9 73 48 58 86 60.2 73 49 58 90 61.9 75 50 58 89 63. 2 76 51 60 84 62.9 75 51 60 87 '64.5 76 53 63 88 65.3 79 53 63 '89 '66.3 79 '54 93.9 100.0 96.9 92.8 89.1 86.0 83.3 84.7 '85.2 86.8 89.1 91.6 92.2 116 148 142 139 130 124 103 106 96 99 99 105 109 84 90 87 82 78 75 73 74 77 80 83 84 83 92 92 88 88 86 82 81 83 83 86 88 88 93 83 117 93.9 99 71.4 55 90 92.5 99 89 96 88.4 91 67.6 49 85 77.0 77 87 91 86.5 90 65.7 48 82 73.3 74 83 93 84.5 88 64.9 47 81 68.3 69 80 87 82.4 86 63.4 46 80 65.1 65 77 83 81.3 86 63.2 45 78 61.1 60 76 82 82.0 87 63.4 46 76 56.9 65 77 82 84.4 90 64,0 46 79 55.9 55 78 81 86.7 93 65.4 48 82 '74.2 79 78 89 89.0 95 67.8 49 87 ' 81. 5 '89 79 106 '92.3 101 71.1 52 92 89.9 '99 82 111 93.3 100 72.0 53 93 93.9 104 82 '114 '94.0 99 '73.6 57 94 '03.3 102 93 2 Foundry and machine-shop products Radios and phonographs 1923-25=100_. do Metals, nonferrous, and products do Brass, bronze, and copper products.do Stone, clay, and glass products do Brick, tile, and terra cotta ,„_do Glass . _ do Transportation equipment do __ Automobiles _do Nondurable goods do Chemicals and petroleum refining do Chemicals do Paints end varnishes .do Petroleum refining do _ Rayon and allied products do Food and kindred products do Baking . . . _ do Slaughtering and meat packing do Leather and its manufactures do Boots and shoes _ do „ Paper and printing , do Paper and pulp.. do Rubber products do Rubber tires and inner tubes do Textiles and their products do Fabrics _ do Wearing apparel do Tobacco manufactures do Factory, adjusted (Federal Reserve)! do Durable goods do Iron and steel and their products, not inch Structural and ornamental metalwork Engines, turbines, water wheels, and windmills 1923-25=100— Foundry and machine-shop products 1923-25 = 100— Radios and phonographs do Metals, nonferrous, and products do Brass, bronze, and copper products-do Stone, clay, and glass products do Brick, tile, and terra cotta do Glass do Transportation equipment do Automobiles do ' Revised. fRevised series. Data on factory employment, unadjusted (U. S. Department of Labor) revised beginning 1933: see table 76 on p.13 of the November 1938 Issue and table 1, p. 15 of the December 1938 issue. Factory employment, adjusted (Federal Reserve), revised in its entirety; data not shown in table 76, p. 13 of the November 1938 Survey, or in table 1, p. 15, of the December 1938 issue are available upon request. 136180—39 8 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 26 SURVEY OF CURRENT BUSINESS Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary April 1939 1939 1938 February March April May June July DecemOctober NovemAugust September ber ber January EMPLOYMENT CONDITIONS AND WAGES—Continued EMPLOYMENT—Continued Factory, adj. (Federal Reserve)t— Continued. 95.4 96.4 94.1 92,4 97.6 ' 96. 7 Nondurable goods 1923-25=10092.9 94.5 '97.2 08. 8 ••98.3 99. 5 '99.4 111.4 Chemicals and petroleum refining do_—. 114.4 112.7 110.2 108.4 111.0 110.9 108.3 111.2 111.8 11J. 7 112.3 • 112.3 111 119 113 Chemicals -do 115 112 110 110 106 110 117 118 117 117 114 114 113 113 113 110 109 113 Paints and varnishes do 114 113 114 115 no 120 123 Petroleum refining -do 122 122 122 120 121 121 118 119 118 118 118 312 272 292 307 274 Rayon and allied products.. -do.—. 303 290 310 289 313 314 310 310 r 122.2 124.2 122.4 120. 4 120.0 121.2 122.2 123.0 Food and kindred products... ..do 119. 2 ]?2 8 121.8 124. 2 ' 124.2 143 144 144 143 142 144 143 143 142 143 Baking do 144 144 143 96 97 95 94 93 94 95 95 97 99 Slaughtering and meat packing do 94 99 ' 96 91.3 89.9 90.8 91.4 Leather and its manufactures do 89.9 89.8 87.1 84.4 88.4 89.6 92.8 92.1 ' 92. 8 92 92 90 91 92 92 89 85 91 92 Boots and shoes— . do 93 92 93 104.0 106.1 104. 3 105. 4 Paper and printing _ do 105. 6 103. 7 103.0 103.0 103.7 105.0 105. 9 106.0 ' 100.0 104 J02 103 105 103 102 106 106 104 105 Paper and pulp do. 10G 1»T) ' 106 76.0 81.7 74.1 72.4 72.2 71.3 71.3 §9.5 73.4 Rubber products do 76.8 81.2 83. 2 '81.3 61 62 62 61 Rubber tires and inner tubes. do 63 61 60 60 64 66 60 67 67 97.0 91.4 92.1 96.4 Textiles and their products do 92.2 87.6 87.4 95.6 r 96. 7 89. 4 98.2 98.9 r 9$ 4 81.1 '87.1 86.3 ' 88. 6 80.3 78.9 78.6 79.3 83.4 87.2 Fabrics —do 89.6 90 3 ' 90. 0 115.7 116.2 104.1 109. 8 117.9 115.4 115. 2 112.2 106.6 113.6 Wearing apparel -.-.do 115.9 116.4 ' 116.0 64.2 64.3 63.2 64.6 64.8 65.2 61.9 62.9 64.9 63.7 Tobacco manufactures_. . do. 63.9 64. 2 ' 64. 5 Factory, unadjusted, by cities and States: City or industrial area: 86.8 85.1 87.2 87.4 83.6 89.3 86.5 89.5 84.5 Baltimore .1929-31=100— 88.8 87.2 87.2 ' 84. 8 68.7 67.2 71.5 67.5 64.7 65.4 69.6 74.2 69.4 65.7 Chicago . _ .1925-27=100— 70.4 70. 6 69.7 79.4 76.9 70.0 74.0 80.6 80.2 76.7 72.3 72.5 Cleveland .1923-25=100. 75.5 81.8 82. 3 81.8 88.0 72.1 47.8 56.8 97.6 74.3 70.5 58.5 54.9 68.4 Detroit— do... 99. 3 102. 9 100. 8 85.6 93.9 84.6 90.0 85.6 86.2 89.3 93.3 88.9 Milwaukee— -1925-27-100. 91.8 92. 7 90.8 88.3 73.1 81.7 82.4 87.7 83.0 77.2 86.1 74.6 New York _ do._. 81.8 86.9 89. 1 85.4 86.1 -91.2 84.4 80.7 82.9 88.1 90.3 82.5 80.0 Philadelphia 1923-25=10087.2 90.9 90. 9 ' 89. 6 64.4 69.2 62.1 65. 9 Pittsburgh. _ do... 67.9 63.0 59.3 59. 8 60.8 64.8 66.4 66. 0 ' e>:,. 3 81.0 81.7 78.8 76.4 77.6 79.7 76.3 82.2 76.8 Wilmington do__ 77.3 86. 9 89.2 r 87. 7 State: 87.7 99.5 94.2 82.6 83.7 86.6 85.1 84.0 87.8 86.8 Delaware do... 94.1 91.9 '92.7 74.4 73.7 77.6 73.1 71.4 70.0 72.0 75.3 79.8 75.7 Illinois 1925-27=100 76. 1 76.8 75. 2 130.5 126.9 123.9 125.1 124.0 126.2 126.2 123.0 127.9 127.9 Iowaf 1923-25=100 131.0 128.0 127.6 91.3 9 91.9 91.6 90.8 88.1 90.0 90.8 91.8 91.6 88.7 Maryland .1929-31=10091.6 9 7 ' 8 9.4 72.4 71.8 72.6 69.5 68.7 65.7 62.3 63.2 70.0 67.0 Massachusetts 1925-27=100. 73. 8 74. 6 73.0 75.2 75.7 72.5 74.7 76.9 75.8 72.5 72.9 74.5 New Jersey 1923-25=100.. 73.2 77.6 76.7 80. 8 80.3 80.3 77.5 77.3 72.8 71.5 72.2 76.4 75.5 New York. .1925-27=100. 81.8 80.0 81.'3 82.0 81.0 78.0 75,0 78.0 85.0 84.1 83. 2 80.7 76.0 Ohio .1926=100. 85.0 86.0 86. 0 74.4 73.4 75.4 75.2 74.7 72.9 70.3 68.9 69.2 Pennsylvania... .1923-25=100. 71.7 76.2 76.2 ' 74. 6 81.4 83.1 91.3 81.5 84.7 84.5 82.4 81.7 Wisconsin!. 1925-27=100.. 83.3 86.0 82.4 80.3 Nonmanufacturlng, unadjusted (U. S. Department of Labor): Mining: 52.4 37.6 46.4 56.0 44.6 59.3 52.8 51.0 Anthracite 1929=10060.0 57.0 S8. 8 51.3 ' 50. 0 87.2 83.4 82.2 78.5 93.2 80.2 Bituminous coal do. 95.5 88. ( 85.8 80.1 61.2 89. 3 ' 8S. 8 57.9 55.2 63. 6 62. 3 58.8 56.0 49.7 61.9 Metalliferous do. 61.6 51.4 66.4 62.7 '61.4 69.5 71.5 72.3 73.2 73.6 72.8 68.3 Petroleum, crude, producing do 74.2 73.8 72.4 67. 0 67.7 44.4 44.6 38.9 43.7 43.6 44.1 44.4 Quarrying and nonmetallic do.... 37.8 41.7 44.6 ' 38. 5 I 41.4 Public utilities: Electric light and power, and manufactured 89.6 91.4 ' 90 0 92.5 92.7 92.5 92.3 92.2 92.0 91.7 92.6 91.9 gas „ 1929=10091.8 69.4 ' 69. 4 ' 69. 2 69.9 69.3 70.8 70.6 70.4 70.1 71.2 71.1 Electric railroads, etc do 69.5 69.5 72.6 ' 74. 1 74.7 74.9 74.9 75.7 74.9 75.0 74.8 Telephone and telegraph— do 74.8 74.4 74.8 Services: 92.1 97.9 94.2 106.8 105.0 107.8 108.8 98.5 109.9 102.5 95.6 Dyeing and cleaning do 111.8 110.8 92.5 93.4 ' 93. 3 94.4 9fi. 5 96.2 97.8 93.7 94.8 96.6 95.7 S5.4 Laundries— do—_ 97.5 92.4 91.9 92. 9 91.8 92.5 93.4 93.5 93.7 92.2 90.7 Year-round hotels ...do. 94.5 91.8 90.4 Trade: 81.4 ' 82. 2 '98.1 '35.9 80.0 ' 84. 7 81.1 83.0 ' 86. 9 82.4 83.8 83.6 88.2 Retail, total _ do. ' 90. 7 ' 144.1 88.8 '97.0 '99.4 ' 104. 5 90.5 92.4 91.9 87.9 86.4 101.0 General merchandising do. 88.8 Other than general merchandising 86. 0 79. 4 ' 80.0 82. 3 78.3 79.3 81.5 82.3 81.5 81.4 81.0 80.7 84.9 1929=100r 88. 2 89.1 87.6 89.8 90.4 89.1 87.3 87.2 86.8 87.6 88.5 Wholesale do. 90. 0 88.5 Miscellaneous employment data: 35.0 ' 29. 0 36.0 35.0 37.0 38.8 37.0 36.6 36.9 37.7 Construction employment, Ohio..-.1920=100.. 32. 0 36.0 Hired farm employees, average per 100 farms 110 0) 109 108 0) 74 93 86 71 79 number. _ 83 | 106 Federal and State highway employment: 177,675 179,420 213,802 272,316 294, 240 322,508 323, 650 337. 638 350. 090 341,832 266,029 210.851 Total number— 191,900 76, 305 (\7, 831 61,965 62, 608 81,902 115,853 134, 248 153, 602 153,509 1«4, 444 164,666 138,512 103.491 Construction (Federal and State)..do 124,069 115, 710 116,812 131,900 156,463 159,992 168,906 170,141 173,194 185, 394 203, 320 163,138 Maintenance (State) do Federal civilian employees: 807,636 814,577 824,133 838,965 855,131 864,944 872,527 872, 525 873,694 869, 256 91S, 861 United States do... 113,111 112,711 113,778 114, 519 115,562 116,159 116,971 118,079 118,343 118, 985 120,604 District of Columbia.. do... Railway employees: Class I steam railways: 948 992 901 945 955 979 943 930 920 955 929 Total -thousands. Index: 52. 1 52. 8 54.7 5° 7 52.1 52.6 51.2 53.9 53.8 51.9 51.1 50.7 52.6 Unadjusted. „ 1923-25=100.. 54.3 53.2 52.9 .53. 4 54.6 53.4 50.1 50.1 51.3 50.8 51.5 51. 8 Adjusted „ do Trade-union members employed: 84 84 85 81 81 82 83 79 79 80 All trades _,percent of total— 65 65 68 61 63 64 64 68 57 56 Building _ do 78 73 79 75 75 74 76 75 75 75 Metal— ..do. 88 88 88 i 89 84 88 88 87 87 87 Printing do. Sfl 88 86 88 85 85 89 | 84 ! 85 85 All other _ do. 65 62 62 63 66 j 58 1 58 59 60 On full time (all trades) do. ' Revised. 1 Discontinued by reporting source. T-ttevisea series. iowa employment revised beginning July 1937; revisions are shown on p. 20 of the March 1939 issue. Wisconsin employment and pay rolls have been adjusted, beginning 1929, to trends indicated by census data. Indexes not shown on p. 26 of the November 1938 Survey will appear in a subsequent issue. Data on factory employment, adjusted, Federal Reserve, revised; see footnote marked with a "f" on p. 25. 27 SURVEY OF CUEEENT BUSINESS April 1939 Mfonthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary 1938 February March April May JllD8 July 1939 DecemOctober NovemAugust September ber ber January EMPLOYMENT CONDITIONS AND WAGES—Continued LABOR CONDITIONS Average weekly hours per worker in factories: National Industrial Conference Board (25 industries) hours U. 8. Department of Labor (87 industries)5 hours Industrial disputes (strikes and lockouts): Beginning in month number In progress during month do Workers involved in strikes: Beginning in month.. thousands.. In progress during month _ do Man-days idle during month_ do Employment Service, United States: Applications: Active file do New _ do Placement, total do Private do Ratio of private placements to active file percent „ Labor turn-over in mfg. establishments: Accession rate-_.mo. rate per 100 employees.. Separation rate: Total „ do Discharge „ do Lay-off. do Quit do 33.4 33.3 32.9 32.7 33.1 33.8 35. 2 36.2 36.7 36.9 36.6 34.3 34.5 34.2 34.4 34.4 34.7 36.3 36.9 37.4 36.5 37.1 ' 189 '312 ' 251 '383 '257 ••420 '266 '448 '197 '376 '182 '335 '224 '374 '187 '337 '216 '344 '169 '311 ' 136 ' 246 p 255 "53 P600 '510 56 ' 105 ' 759 ' 110 '830 81 '123 ' 1, 158 52 '94 '850 48 '83 1 '756 46 '78 '809 '95 ' 132 ' 980 ' 52 ' 111 '831 38 '70 '519 '34 '54 '425 v 525 7,199 489 181 126 6,763 750 132 91 6,784 806 177 129 7,259 667 218 154 7,525 677 239 159 7,831 803 246 164 8,119 623 271 190 7.966 523 281 203 7,743 565 292 208 7,529 503 251 178 7,216 477 230 161 ' 7, 434 '644 200 130 36.8 v 185 v 285 ?' 55 v 70 8,088 705 228 156 36.6 v 171 ^50 *f>5 1.8 1.4 1.9 2.1 2.1 2.1 1.9 2.3 2.5 2.7 2.4 2.2 '1.7 3.06 3.13 3.13 2.58 2.84 3.44 4.81 5.29 4.51 5.19 4.24 3.22 4.09 2.61 .10 1.87 .64 4.39 .11 3.79 .49 4.46 .11 3.74 .61 4.54 .10 3.85 .59 4.57 .13 3.82 .62 4.41 .11 3.69 .61 3.81 .09 3.13 .59 3.08 .10 2.33 .65 3.56 .12 2.62 .82 3.30 .12 2.40 .78 3.14 .10 2.44 .60 3.88 .09 3.21 .58 3.19 . 10 2.24 .85 85.3 78.3 76.9 67.2 77.1 67.4 74.6 65.6 72.9 64.2 70.8 61.7 70.6 58.6 76.9 63.7 81.0 68.7 83.8 75.2 84.1 78.3 86.5 '80.3 83 2 '76. 4 PAY BOLLS Factorv, unadjusted (U. S. Department of Labor)f 1923-25=100 Durable goods... do Iron and steel and their products, not incl. machinery ._ . . 1923 25=100 Blast furnaces, steel works, and rolling mills 1923-25-100.. Hardware. . . . . _ . _ _ d o . Structural and ornamental metalwork 1923-25=100.. Tin cans and other tinware do Lumber and allied products _ do Furniture-. . . do Lumber, sawmills do Machinery, not incl. transportation equipment. __„ 1923-25=100._ Agricultural implements (including tractors) 1923-25=100.. Electrical machinery, apparatus, and supplies _ 1923-25=100 Engines, turbines, water wheels, and windmills— 1923-25=100 Foundry and machine-shop products 1923-25=100.. Radios and phonographs . _ do . . . Metals, nonferrous, and products do Brass, bronze, and copper products, do Stone, clay, and glass products do Brick, tile, and terra cotta _ do Glass do Transportation equipment do Automobiles _ ._ „ do . Nondurable goods do Chemicals and petroleum, refining..do Chemicals. _. do Paints and varnishes do Petroleum refining ... _ do.__ R a y o n and allied products do Food and kindred products. do Baking do Slaughtering and meat packing do Leather and its manufactures do Boots and shoes __ do . . Paper and printing . do Paper and pulp _. do Rubber products . do Rubber tires and inner tubes do Textiles and their products do Fabrics._ _ . do Wearing apparel do Tobacco manufactures do Factory, unadjusted, by cities and States: City or industrial area: Baltimore 1929-31 = 100 Chicago Milwaukee N e w York Philadelphia Pittsburgh . Wilmington State: Delaware __ Illinois Maryland Massachusetts N e w Jersey _ New York.... . Pennsylvania Wisconsint _ 1925-27 - 1 0 0 . . do do 1923-25=100 . _. do do _ . - ._ do 1925-27=100.. 1929-31*= 100 1925-27=100.. .__1923-25«100__ 1925-27=100.. 1923-25=100.. 1925-27=100.. 79.8 63.2 64.3 63.3 62.7 69.1 67.4 65.3 68.6 74.9 79.1 80.8 ' 77. 7 83.4 78.4 63.7 59.3 64.5 56.4 64.3 51.8 62.9 53.2 58.1 52.4 56.8 48.3 65.3 57.6 87.6 65.7 73.9 86.3 81.9 93.2 83.2 90.1 '82.1 '81.8 54.7 85.7 52.8 66.1 40.7 52.0 89.6 48.0 56.3 39.3 50.6 92.9 51.8 56.8 44.5 49.4 91.2 50.1 51.9 44.4 48.8 91.8 50. 5 50.4 45.4 46.7 92.6 51.2 52.4 45.4 48.8 94.4 48.7 51.3 41.6 51.2 107.0 58.1 62.5 60.2 40.7 103.0 60.0 68.1 50.6 50.5 89.2 60.0 68.4 50.4 50.1 87.5 56.2 64.9 46.4 53.2 87.9 56. 1 67.8 44.9 51.8 ' 86. 8 '52.0 60.3 M2.4 91.6 91.1 88.0 83.6 80.6 76.4 72.7 76.1 78.6 81.9 83.9 '89.3 '87.4 129.4 161.8 160.7 152.8 137.2 124.1 98.6 95.6 87.1 92.4 95.0 113.5 '111.8 83.9 80.9 77.4 72.0 68.4 66.6 64.1 67.7 73.0 78.0 80.4 '82.7 107.2 99.2 100.8 101.7 97.1 89.4 85.9 89.9 90.0 90.4 91.6 98.0 77.8 89.1 87.8 96.4 77.5 68.3 74.4 75.8 51.3 28 2 80.7 65.9 62.7 87.8 117.3 123. 6 108.1 138.2 265.8 114.2 137.3 105. 0 77.0 76.5 101.2 101.4 58.9 49. 0 77.9 69.0 92.8 52.6 75.2 57.9 74.3 77.5 53.0 28.8 81.4 65.1 62.3 87.9 117.3 118. 5 110.8 136.5 281.7 113. 3 137. 7 100.7 76.6 76.5 101.3 101.8 60.9 51.5 78.0 67.6 95. 8 54.7 71.4 65.8 69.0 74.5 54.3 32 3 77.6 64.9 63.3 84.7 114.3 117.4 114.1 134.9 244. 2 114. 1 137.5 100.8 70.6 69.9 99.4 98.4 61.9 53. 7 71.6 63.3 85.6 53.2 70.0 66.8 69.0 76.0 57,7 35.7 79.1 59.5 56. 8 82 fi 115.7 116.8 119. 5 139. 6 257.9 117.3 139. 5 103.6 60.9 57.6 98.5 97.2 63.3 56.1 66.3 62.0 72.5 56.6 65.7 71.6 66.3 72.5 56.4 36.0 77.6 57.4 54.4 80.9 112.8 118.1 116. 6 137.8 242.1 121.7 141.9 104.7 57.5 52.8 96.0 94.9 63. 5 57. 5 62.4 61.2 62.6 59.4 63.7 72.4 67.0 77.9 53.1 35.4 69. 1 51.0 47.4 84.1 111.1 114,5 111.0 135.3 249. 5 12*. 5 142.8 107.9 69.4 67.0 95.9 96.9 64. 1 60.0 66. 6 65. 7 66.0 57.1 67.2 75. 5 74.1 83.4 66.5 37.2 78.6 49.9 47.0 91.7 116.9 121.0 111.2 138.1 289.0 131.1 139.8 104.8 70.0 75.1 98.0 101.9 69.5 60.6 80.0 73.4 90.4 59.0 68.1 83.5 81.4 89.1 68.3 3S. 6 S2. 6 64.7 66.3 94.9 118.9 121.4 114.5 134. 6 308.2 136. 7 143. 5 108.7 74.0 70.9 101.1 101. 6 76.7 67.3 84.0 74.7 99.5 61.0 69.4 97.9 88.5 96.2 63.0 40. 6 92.9 83.8 91.3 93.4 120. 1 128. 1 116. 3 132.8 302. 6 127.0 139. 5 110.0 69.6 64.5 103. 7 106. 5 79. 7 69.1 83.1 76.5 93.0 60.7 70.6 106. 9 90.2 99.8 63.8 39. 0 98. 6 95.9 107. 6 90.6 119.1 128.1 113.8 133.6 302.7 122.4 139.7 110.0 62.4 54.4 103.3 102. 9 85. 2 75.3 78.4 77.3 78.0 59.8 75.9 107.6 ' 90. 3 98. 9 63. 5 39.4 99. 4 ' 97. 9 '107.4 ' 93. 4 120. 1 129. 8 115.4 134. 1 302. 4 120.9 138. 2 112.5 70. 0 63. 3 107.3 103.4 89. 0 79.0 83. 3 81. 1 ' 84. 6 59.6 '74.8 ' 96. 8 '84.7 93.0 '56.8 ' 36. 7 ' 92. 0 ' 91. 9 ' 100.6 ' 90. 9 ' 119.7 127. 9 ' 113.1 ' 134.5 ' 309.5 ' 115 2 ' 136. 1 ' 111.1 ' 77. 5 ' 72. 6 ' 102.2 ' 102. 6 ' 83. 9 ' 76. 2 ' 80. 8 '78.7 '82.4 '49.7 96.2 58.3 87.2 76.3 85.5 72.2 77.2 94.8 56.5 86.8 77.4 84.3 70.8 76.8 92.2 54.4 84.3 74.3 79.3 68.5 71.9 89.1 52.9 81.4 68.5 76.1 67.6 73.1 87.2 50.8 81.7 66.6 74.7 62.2 72.3 87.1 50.8 78.8 66. 7 76.1 58.0 72.9 92.3 52.2 84.1 75.5 79.3 66.4 74.1 94.0 54.0 80.9 83.6 82.7 66.7 75.4 96.7 55.2 84.5 80.6 83.8 73.6 75.9 96.8 55.9 89.7 76.0 84.5 78.6 76.4 99.4 58. 5 92. 6 79. 0 89. 6 80.0 84. 2 ' 96. 0 57 1 88.6 77.6 88.0 '79.1 ' 84. 9 72.1 64.4 96.8 62.9 71.9 70.6 67,8 82.1 71.7 63.0 96.0 62.0 70.5 70.6 R8.5 81.9 67.5 60.9 93.6 59.1 68.2 67.4 65. 7 79.6 69.1 58. 4 91 3 57.8 68.7 64.2 64.8 77.4 68.3 56.6 89.1 55.3 68.3 63.5 62.1 77.0 70.2 55.9 89.0 57.1 68.4 64.8 61.3 81.3 74.7 58.9 93.9 64.5 70.9 69.8 66.9 80.3 74.4 60.3 95.7 67.1 72.6 75.3 68.9 77.7 71.7 62.2 98.7 67.6 74.6 75.0 72.3 80.9 71.6 62.6 98.7 66.3 75.0 72 9 73.3 81.6 78.5 64. 9 101. 9 69. 5 77.8 75. 8 75. 6 83.8 ' 79. 0 63 2 '97.9 68. 3 75. 9 74.4 73.4 79.6 35." 5 98. 4 91. 6 97. 0 93. 1 119.9 129.7 115.6 132. 2 314. 4 112.2 136.7 100. 7 83. 1 79.4 102. 5 105. 5 82.4 72.2 87 2 80.9 96. 6 51.2 99.8 57.3 82.0 89. 7 82.7 85.6 79. 5 65. 1 102. 5 70.9 77.2 76.7 76.4 ' 80. 6 '98.4 •• Revised. v Preliminary. tRevised series. Data on factory pay rolls (U. S. Dept. of Labor) revised beginning 1933; see table 77 on p. 17 of the November 1938 Survey and table 2, p. 16 of the December 1938 Issue. For Wisconsin pay rolls, see footnote marked with a " t " on p. 26. \ Current figures are not strictly comparable with those prior to July 1938; revised series will be shown when available. 28 SURVEY OF CURRENT BUSINESS Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data, may be found in the Febru1938 Supplement to the Survey ary February March April May June April 1939 1938 1939 July Decem- JanuAugust SeptemOctober November ber ber ary EMPLOYMENT CONDITIONS AND WAGES—Continued PAY ROLLS-Contlnued Nonmanufacturing, unadjusted (U. S. Department of Labor): Mining: Anthracite 1929=100Bituminous coal do Metalliferous do.— Petroleum, crude, producing do Quarrying and nonmetallic do— Public utilities: Electric light and power, and manufactured gas ..,.-1929= 100Electric railroads, etc do— Telephone and telegraph do— Services: Dyeing and cleaning do— Laundries —do— Year-round hotels do— Trade: Retail, total _ do_... General merchandising do__,. Other than general merchandising..do Wholesale do.... 44.9 81.5 52.6 62.0 29.4 46.1 74.0 55.8 69.6 28.8 47.3 68.4 56.3 68.0 30.2 39.0 56.3 53.3 68.0 33.9 38.3 55.3 51.2 66.7 38.3 49.7 57.0 46.1 67.6 37.3 20.2 56.8 38.0 66.7 37.0 20.0 64.2 43.7 66.8 39.2 29.4 71.9 46.1 66.5 38.4 43.4 78.3 49.2 63.7 39.2 36.2 81.4 52.3 63.3 37.2 96.8 70.0 91.3 98.5 70.2 89.9 98.6 69.9 92.6 97.6 70.0 91.6 97.4 71.2 91.3 98.6 69.7 90.9 98.3 69.0 90.9 98.9 69.5 91.3 98.4 68.4 92.6 99.9 68.9 95.3 98.6 68.8 93.0 98.2 69.5 92.7 63.4 78.5 82.1 65.2 79.1 83.6 68.2 78.6 80.9 87.2 80.6 80.5 80.7 80.9 80.5 83.3 81.8 79.6 77.5 83.0 77.4 74.3 83.1 77.4 81.7 81.4 78.9 78.0 79.5 80.8 73.9 79.3 81.3 68.3 80.0 81.1 68.1 80.9 65.5 74.1 68.4 81.5 65.7 75.3 68.6 82.2 65.8 74.7 72.2 89.4 68.6 74.6 70.0 84.4 67.0 75.1 69.5 84.3 66.4 73.8 68.1 80.4 65.6 73.6 66.8 78.8 64.3 73.7 '69.4 '85.3 66.1 74.3 '70.8 '88.3 67.2 75.1 71.5 '91.8 67.3 75.4 23.63 23.53 23.38 23.74 23.93 24.93 25.73 26.14 26.32 26.02 22.46 24.05 22.28 24.16 22.43 24.29 22.30 24.22 22.06 23.53 22.90 24.98 23.32 25.80 23.95 26,95 23.82 27.11 ' 24. 30 ' 27. 34 22.11 22.44 22.75 22.17 21.91 24.11 24.59 25.94 26.64 28.90 22.28 19.47 22.91 19.42 23.08 20.37 22.21 20.77 21.70 20.77 24.70 23.06 25.25 23.86 26.79 26.32 28.48 26.79 28. 49 25.31 25. 63 23.92 19.34 18.87 19.33 25.41 22. 42 18.91 17.92 19.17 25. 77 22.89 19.21 17.89 19.42 25.26 22.62 19.52 18.42 19.76 26.01 22.44 18.64 17.87 18.29 26.94 23.40 21.02 20.43 20.90 25.93 22.85 21.31 21.50 20.88 26.12 22.50 21.09 20.77 20.94 26.07 22.50 19.91 ' 19. 75 19.57 27.18 22.76 20.14 20.60 19.27 25.34 24.94 24.96 24.68 24.34 25.08 25. 57 26.07 26.04 ' 26.98 29.54 28.61 28.37 27.36 27.05 26.43 26.55 27.11 27.08 29.76 24.73 24.42 24.27 24.49 24.33 25.28 26.07 26.71 26.69 ' 27. 26 29.85 28. 94 27.78 26.98 27.05 28.13 28.00 28.01 28.35 29.73 24.72 18.78 22.97 23.44 21.95 17. 24 23.31 27.05 26.10 20. 94 27.43 29. 23 26. 70 34. 89 22. 19 21. 78 25. 42 27. 2(5 18.90 18. 04 27.71 23. 73 22. OS 24. 02 10.37 15. 66 18. 12 15.79 24.47 20.91 22.15 24.74 21. 64 22.55 24. 30 22.07 22.20 23. 99 22. 11 22.93 24.87 21.20 24.14 25.02 22.21 25.14 25.54 22.53 26.06 25.51 22.40 25.70 26.48 22. 62 ' 25. 81 22. 95 22. 00 17. 89 22.88 28. 94 28.83 20. 52 27. 32 29. 42 27. 11 34. 47 21.21 24. 89 25. 36 27.73 17.81 16.90 27. 30 23. 16 22.47 25.21 15.60 15. 16 16. 69 15.54 23.78 23. 12 19.17 23.44 28.14 27. 65 20. 64 28. 50 29. 63 28. 17 35. 78 22. 34 25. 40 25.84 28.38 16. 66 15. 12 27.41 23. 20 23. 39 26. 67 15.23 15.12 15.52 16.31 23. 14 22. 77 19.43 23.48 29.64 29. 49 20. 52 28.80 29. 90 27. 79 35. 26 22. 42 24.98 25. 76 24. 74 21. 90 18. 83 22. 15 29. 43 29. 56 20.83 28. 48 29.40 27. 38 34.60 22.68 24. 53 25. 79 28. 19 16. 30 14.71 27.04 22. 89 23.75 27. 35 15. 03 15. 29 14.31 16.91 28. 63 18.51 17.48 27.10 23.37 24.84 28.43 15. 67 15.72 15.50 17.18 25.63 22.77 19.56 23.95 31.22 32.33 21. 25 29. 02 30.39 27.39 35.25 24.16 23. 18 25. 33 27.93 19.80 18.85 27.48 24.26 25.39 28.73 16.87 16.56 17.68 16.89 26.32 23. 00 19.77 24.13 32.64 33.81 21.33 28.36 29.90 27.70 34.58 24.02 23.43 25.86 28. 66 18.98 17.87 27.91 23.92 26.91 31.27 17.03 16.43 18. 68 16.96 27.28 23.96 20.37 25.47 33.88 34.98 21.35 28.41 30. 88 27.83 34.45 23. 63 24.11 25.30 28.51 18.32 16.97 28.14 24.85 27.27 31.25 17.00 16. 65 18.01 16.84 27.14 23.82 19.46 25. 68 33. 64 34.89 20.85 28.26 30.22 27.34 34.86 23.74 24.22 25.21 27.54 17.22 15.41 27. 58 23.78 27.58 32. 77 16.35 16.35 16. 35 16.55 26.92 24.03 20.06 25.76 32. 72 33. 22 21. 53 28.52 30.72 27.80 35. 30 23.80 24. 75 25. 26 27. 69 18.62 17.11 28. 61 23.85 28.40 33.80 16.99 16.80 17.61 16.92 WAGES Factory average weekly earnings: National Industrial Conference Board (25 26.11 23.53 industries) dollars.. U. S. Department of Labor (87 industries) t 22.30 dollars— 23.80 Durable goods do__. Iron and steel and their products, not in 21.54 eluding machinery dollars.Blast furnaces, steel works, and rolling 21.60 mills. dollars-20.07 Hardware do... Structural and ornamental metal work 25. 74 dollars,22.46 Tin cans and other tinware _do 18.69 Lumber and allied products ...do 18.56 Furniture -do 18.40 Lumber, sawmills do Machinery, not including transportation 25.48 equipment dollarsAgricultural implements (including 29.28 tractors) —-dollarsElectrical machinery, apparatus, and 24.88 supplies dollars-. Engines, turbines, water wheels, and 28.72 windmills dollarsFoundry and machine-shop products 24. 85 dollars19.99 Radios and phonographs do 22.64 Metals, nonferrous, and products—do__. Brass, bronae, and copper products 22.77 dollars . 21.47 Stone, clay, and glass products do... 17. 26 Brick, tile, and terra cotta do 22. 56 Glass do 26.86 Transportation equipment ..do 25. 34 Automobiles do— 20. 86 Nondurable goods... do 27.51 Chemicals and petroleum refining-do— 29.45 Chemicals do 2(5. 26 Paints and varnishes .do— 35. 23 Petroleum refining .do 21.26 Rayon and allied products do 24. 74 Food and kindred products do— 25. 30 Baking do 27. 32 Slaughtering and meat packing___do 19. 09 Leather and its manufactures do 18. 21 Boots and shoes ., do— 27.40 Paper and printing .do— 23.51 Paper and pulp ...do 20. 97 Rubber products do 22. 33 Rubber tires and inner tubes do 16.41 Textiles and their products do 15.82 Fabrics .do 17.94 Wearing apparel do... 15.32 Tobacco manufactures do..,. Factory average hourly earnings: National Industrial Conference Board (25 .710 industries) dollars. U. S. Department of Labor (87 industries) f . 657 dollars . .724 Durable goods -.-do... Iron and steel and their products, not in.760 cluding machinery dollarsBlast furnaces, steel works, and rolling mills dollars.666 Hardware -do..Structural and ornamental metal work .720 dollars. .613 Tin cans and other tinware -_.do___ .515 Lumber and allied products. .do... .534 Furniture do .497 Lumber, sawmills. do__. ' Revised t Revised series. See note marked with a " f on p. 29, 42.5 80.9 '54.1 62.5 33.7 r r ' ' ' ' ' 79.4 122. 9 70.3 75.6 .717 .718 .719 .713 .711 .714 .714 .714 .713 . 655 .724 .652 .722 .650 .721 .648 .718 .635 .704 .629 .702 .632 .708 '.637 .710 .645 .724 .648 .726 .759 .762 .763 .763 .753 .753 .753 .753 .757 .826 .651 .832 . 646 .837 .649 .841 .653 .840 .652 .835 .657 .839 .658 .839 .680 .842 .842 .667 .715 .614 .527 .538 .516 .718 .611 .535 .544 .528 .722 .610 .531 .543 .518 .728 .602 .531 .531 .527 .728 .589 .511 .522 .502 .731 .597 .523 .522 .519 .726 .599 .526 .524 .525 .720 .606 .520 .518 .620 .725 .607 .533 .524 .537 .727 .608 .532 r.526 .533 29 SURVEY OF CURRENT BUSINESS April 1939 Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary 1938 February Mar oh April June May 1939 August July Septem- October Novem- December ber ber January EMPLOYMENT CONDITIONS AND WAGES—Continued WAGES-Continued Factory average hourly earnings—Continued: U. S. Department of Labor (87 industries) t— Continued: Durable goods—Continued: Machinery, not including transportation equipment. dollarsAgricultural implements (including tractors) dollars.. Electrical machinery, apparatus, and supplies dollars.. Engines, turbines, water wheels, and windmills dollars.. Foundry and machine-shop products dollars Radios and phonographs __ do ._ Metals, nonferrous, and products __ do Brass, bronze, and copper products dollars Stone, clay, and glass products do Brick, tile, and terra cotta do Glass . do. __ Transportation equipment _ do Automobiles „ do Nondurable goods do Chemicals and petroleum refining-_do Chemicals do Paints and varnishes do Petroleum refining do Rayon and allied products do.... Food and kindred products do Baking do Slaughtering and meat packing. _do Leather and its manufactures do Boots and shoes do Paper and printing do Paper and pulp do Rubber products do Rubber tires and inner tubes do Textiles and their products do Fabrics _ do Wearing apparel do Tobacco manufactures do Factory average weekly earnings, by States: Delaware1923-25=100.. Illinois 1925-27=100Massachusetts do New Jersey 1923-25=100. _ New York 1925-27=100.. Pennsylvania 1923-25=100 Wisconsin 1925-27-100.. Miscellaneous wage data: Construction wage rates (E. N. R.): § Common labor _dol. per hour Skilled labor do Farm wages without board (quarterly) f dol. per month— Railway wages (average, class I) dol. per hour.. Road-building wages, common labor: United States, average dol per hour East North Central— do East South Central do Middle Atlantic do Mountain do New England do Pacific _ _ do South Atlantic do West North Central do West South Central do 0.730 0. 730 0.730 0.729 0.727 0.724 0.720 0.721 0.717 0.720 0.721 .724 .800 .795 .795 .796 .781 .781 .768 .771 .777 .794 .802 .794 .745 .749 .746 .749 .747 .742 .738 .737 .732 .730 '.736 .740 .787 .795 .788 .776 .783 .785 .787 .788 .785 .786 .793 .788 .712 .628 .670 .712 .616 .672 .712 .626 .666 .713 .607 .663 .714 .599 .660 .710 .610 .668 .709 .595 .666 .710 .594 .661 .709 .577 .659 '.713 .582 .662 .712 .582 .667 .713 .591 .668 .743 .649 .535 .699 .886 .916 .594 .742 .790 .697 .976 . .653 .609 .606 .689 .526 .603 .759 .624 .773 .938 .510 .485 .557 .460 .743 .644 .624 .697 .886 .919 .593 .737 .790 .697 .970 .647 .621 .608 .693 .523 .500 .764 .622 .761 .949 .506 .482 .549 .464 .720 .638 .516 .691 .885 .920 .590 .742 .795 .690 .968 .650 .621 .610 .691 .513 .487 .765 .620 .767 .946 .495 .480 .521 .466 .714 .640 .518 .698 .885 .920 .588 .757 .789 .693 .975 .640 .624 .615 .688 .522 .484 .769 .623 .769 .950 .479 .473 .491 .462 .709 .641 .518 .705 .889 .925 .587 .770 .793 .697 .978 .648 .614 .613 .690 .514 .486 .774 . 625 .770 .945 .479 .473 .489 .457 .714 .633 .511 .704 .883 .930 .583 .773 .787 .707 .988 .645 .599 .612 .691 .515 .492 .767 .619 .774 .945 .482 .468 .508 .460 .715 .634 .511 .712 .883 .936 .578 .763 .785 .700 .986 .639 .586 .615 .689 .516 .493 .760 .617 .760 .941 .489 .464 .531 .462 .713 .632 .616 .707 .897 .933 .577 .744 .781 .699 .984 .638 .576 .610 .686 .524 .501 .765 .613 .758 .946 .492 .462 .539 .458 709 .640 .526 .716 878 .906 579 .736 .775 694 .976 .639 .598 609 .685 .530 .506 .764 613 .756 .944 .486 .459 531 .456 .710 .645 .531 .722 .906 .932 .580 .744 .776 .695 .979 .641 .612 .611 .685 .533 .508 .762 .612 .756 .952 .478 .460 .510 .462 '.707 .651 .537 .723 .898 '.924 .584 .743 .781 .699 .974 .641 .619 '.615 ' . 679 .526 '.499 . 771 .613 .764 .963 .482 .461 .521 .469 .701 .651 .540 .728 .899 .923 .685 .744 .780 .699 .980 .637 .628 .617 .683 .525 .498 . 765 . 616 .768 .957 .484 .462 .525 .481 92.0 95.3 110.8 93.7 100.5 86.9 87.5 90.6 105.8 91.0 88.9 93.1 88.2 88.3 90.3 105.6 91.4 80.9 92.8 85.4 87.4 88.3 104.1 89.3 88.6 91.4 86.3 86.8 88.0 106.0 88.2 90.2 90.6 85.0 85.9 88.8 104.8 88.7 88.8 89.3 84.7 86.7 90.4 105.4 89.7 86.7 85.2 78.4 88.7 92.3 105.9 91.4 91.9 89.3 82.5 88.9 93.6 106.9 93.8 92.5 89.5 85.5 90.7 93.5 110.5 92.8 96.0 95.1 85.2 90.1 91.5 108.6 90.7 96.7 95.8 89.2 92.6 94.3 111.5 93.3 98.8 97.4 89.0 91.3 93.8 110.2 93.0 '98.1 .680 1.43 .675 1.39 .675 1.40 .677 1.40 .673 1.40 .677 1.42 .677 1.43 .677 1.43 .677 1.43 .682 1.43 .682 1.43 . 682 1.43 .682 1.43 88.2 33.82 37.28 34.92 36.09 .740 .751 .724 .729 .729 .722 .726 .714 .727 .725 .735 .735 .33 .60 .27 .52 .53 .46 .62 '.26 .41 .36 .33 .61 .27 .53 .55 .52 .64 .26 .39 .36 .35 .58 .27 .49 .56 .45 .65 .27 .41 .36 .40 .59 .28 .48 .56 .45 .66 .27 .45 .36 .41 .58 .28 .49 .56 .44 .66 .28 .46 .37 .42 .62 .28 .49 .55 .44 .66 .27 .46 .37 .43 .62 .28 .49 .55 .44 .66 .27 .47 .39 .42 .59 .28 .50 .55 .45 .66 .27 .46 .38 .41 .59 .28 .50 .54 .46 .68 .28 .47 .36 .40 .59 .29 .50 .55 .47 .70 .27 .46 .36 .38 .63 .27 .51 .53 .50 .60 .26 .43 .36 '246 '263 '274 '284 '295 '299 '307 '311 '320 '326 ' 325 315 41 47 41 48 41 41 42 38 42 37 43 36 43 36 43 35 44 35 44 36 '45 41 46 43 2 3 2 2 2 1 1 1 1 2 2 2 ALL PUBLIC BELIEF Total, exclusive of transient care and administrative expense t mil. of dol_. Obligations incurred for: Special types of public assistance do General relief do Subsistence payments certified by the Farm Securitv Administration mil of dol Earnings of persons employed on Federal work programs: Civilian Conservation Corps mil. of dol__ Works Progress Administration: Operated by W P A f do O perated by other Federal agencies f do National Youth Administration: Student aid do Work projects f do Other Federal work and construction projects f mil. of dol_. 19 18 18 18 17 20 20 19 20 21 19 21 '103 '120 '131 '138 '146 '151 4 '163 5 '165 5 '171 5 '172 5 '168 5 '156 5 2 '3 2 '3 2 '3 3 2 '4 0 '4 C) O) '4 2 ' 4 2 4 2 4 2 4 28 29 34 41 46 40 39 38 39 37 35 '4 35 ' Revised. • Less than $500,000. Construction wage rates as of March 1, 1939, common labor $0,680, skilled labor $1.44. fRevised series. Industry classifications have been revised as follows: "Tractors" have been transferred from "engines, turbines, water-wheels, and windmills," to "agricultural implements"; data for these two groups prior to January 1938 will be shown when available. Beginning July 1938, "stamped and enameled ware" (not shown separately in the Survey) has been transferred from "nonferrous metals" to "iron and steel products" and "railroad repair shops" have been dropped from the Department of Labor's tabulation. Revisions in the affected group averages prior to July 1938 will be shown when available. In addition to these changes, which affect both average weekly earnings and average hourly earnings, the latter figures for the 87 manufacturing industries combined and for the manufacturing groups are in the process of revision for all months prior to July 1938; revisions, whichi n most instances are small, will be shown when available. Farm wages revised beginning 1913; data not shown in February 1939 Survey will appear in a subsequent issue. Figures are reported as of Jan. 1, Apr. 1, July 1, and Oct. 1; they are here shown as of the end of March, June, September, and December. Data on all public relief revised beginning with January 1933; figures not shown above will appear in a subsequent issue. The revised series differ from those previously published in that they include, in addition to earnings of persons certified as in need of relief, the earnings of all other persons employed on work or construction projects financed in whole or in part from Federal funds. 30 SURVEY OF CURRENT BUSINESS Monthly statistics through December 1937. together with explanatory notes and references to the sources of the data may be found in the 1938 Supplement to the Survey 1938 1939 February April 1939 February March May April June 1939 DecemOctober NovemAugust September ber ber July FINANCE BANKING Acceptances and com'l paper outstanding: Bankers' acceptances, total mil. of doL. Held by Federal Reserve banks: For own account do For foreign correspondents do Held by group of accepting banks: Total. _mil. of doL. Own bills do Purchased bills „ do Held by others —do Commercial paper outstanding do Agricultural loan? outstanding of agencies supervised by the Farm Credit Administration: Grand total mil. of doL. Farm mortgage loans, total do Federal land banks do Land Bank Commissioner do Loans to cooperatives, total • do Bank for cooperatives incl. Central Bank _mil, of doL. Agricultural Marketing Act revolving fund mil. of dol_. Short-term credit, total do Federal intermediate credit banks, loans to and discounts for: Regional agricultural credit corps., prod, credit ass'ns, and banks for cooperatives c? mil. of doLOther financing institutions do Production credit ass'ns.._„ do Regional agr. credit corps do Emergency crop loans do Drought relief loans do Joint Stock Land Banks in liquidation..do Bank debits, total mil. of doL. New York City do Outside New York City do Federal Reserve banks, condition, end of mo.: Assets (resources) total mil. of dol— Reserve bank credit outstanding, total mil. of dol— Bills bought. do. Bills discounted do. United States securities do Reserves, total do. Gold certificates __ ._do_ Liabilities, total., —do Deposits, total do. Member bank reserve balances, total mil.ofdoL. Excess reserves (estimated) do Federal Reserve notes in circulation.^do Reserve ratio pereent.Federal Reserve reporting member banks, condition, Wednesday nearest end of month: Deposits: Demand, adjusted —mil. of doL. Time do. Domestic interbank do_ Investments, total f do TJ. S. Government direct obligations__do Obligations fully guaranteed by TJ. S. Government mil. of dol— Other securities t do Loans, total 1 do Commercial, industrial, and agricultural loans 1 .mil, of doL. Open market paper do. To brokers and dealers in securities mil. of doL. Other loans for purchasing or carrying securities mil. of doL. Real estate loans... _ do Loans to banks do Other loans 1. do. Money and interest rates: Bank rates to customers: In New York City ..percent— In eight other northern and eastern cities percent._ In twenty-seven southern and western cities percent— Bond yields (Moody's): Aaa _—do_ Baa _ do Discount rate (N. Y. F. R. Bank) do Federal land bank loans do Federal intermediate credit bank loans.do Open market rates, N. Y. 0.: Acceptances, prime, bankers do Call loans, renewal (N. Y. S. E.) do.... Commercial paper, prime (4-6 months) percentTime loans, 90 days (N. Y. S. E.)~~do.— Treasury bills, 91 days (yield) do Treasury notes, 3-5 years (yield) do. 307 293 0 1 3,178 2, 710 1, 969 741 98 279 268 0 1 264 265 261 270 273 270 0 2 0 1 0 0 0 0 217 133 84 47 211 216 129 87 42 209 221 129 92 40 212 223 130 93 46 213 222 124 98 51 206 212 121 91 58 187 3,319 2.795 2,014 3,307 2,786 2,009 777 102 3,290 2,776 2,004 772 110 3,257 2,764 1,998 767 116 3,229 2,751 1,990 760 112 3 210 2,735 1,982 753 112 246 140 106 61 293 236 143 93 57 297 229 141 89 48 271 218 139 48 251 210 135 76 52 225 3,321 2,834 2,030 804 116 3,328 2,824 2,026 799 111 3,337 2,818 2,023 795 107 3,335 2,811 2,020 791 104 3, 336 2,804 2,018 786 106 782 100 (8) (*) 87 82 80 78 81 75 76 83 87 86 87 24 370 28 371 27 393 26 412 25 420 25 426 25 424 26 420 27 404 28 377 25 366 24 363 167 34 155 11 116 54 85 27, 490 12,380 15,110 173 39 148 15 113 57 100 25. 547 10, 915 14, 633 186 40 163 15 119 56 98 32,120 14,746 17, 373 196 41 173 15 127 56 97 31,169 14, 572 16, 597 202 41 180 15 128 56 96 28,841 12,828 16, 013 208 43 184 15 128 56 94 32, 797 15, 637 17,160 199 43 184 14 127 56 93 30, 505 13,828 16, 677 197 43 181 14 126 56 92 28, 270 12.247 16,023 190 41 171 13 123 56 91 29, 525 13. 085 16,440 175 36 155 12 119 55 90 33, 235 15,140 18,096 167 35 148 12 117 55 89 29,406 12,425 16, 981 168 34 148 11 116 55 87 39,930 18,879 21,050 15, 862 12, 796 12,925 14, 322 14,179 14, 214 14, 285 14, 261 14, 573 14,861 15, 293 15, 581 2,598 1 4 2, 564 12, 561 12,125 15, 862 10,571 2,590 1 10 2,564 9,637 9,183 12, 796 7,850 2,611 1 13 2,580 9,690 9,223 12, 925 7,917 2,594 1 9 2,564 11.091 10, 650 14, 322 9,298 2,582 1 9 2,564 11,030 10,648 14,179 9,212 2,596 1 8 2,564 11,041 10, 645 14, 214 9,247 2,589 1 7 2.564 11, 049 10, 642 14, 285 9,270 2,585 1 2,600 1 8 9 5fi3 2, 586 1 7 2,601 1 4 2, c64 12,166 11,798 15,581 10,088 8, 936 3, 387 4, 353 84.2 7,248 1,415 4,139 80.4 7,287 1,546 4,142 80.3 7,623 2,548 4,148 82.5 7,665 2,568 4,157 82.5 8,024 2, 875 4,149 82.4 8,164 3,022 4,135 82.4 15,965 5, 202 6, 414 13,408 8,143 14, 381 5, 260 5, 384 12, 298 8,137 14, 268 5,221 5, 080 12, 039 7, 778 14, 598 5, 230 5, 632 12, 257 7,987 14, 589 5,216 5, 832 12, 202 7,844 15, 036 5,239 5, 780 12, 240 7,770 2,019 3, 246 8,186 1, 159 3,002 8,933 1,156 3,105 8,771 1,199 3,071 8,587 1,411 2,947 8,334 3,773 313 4, 357 431 4,299 418 4,187 393 769 523 1, 136 616 1,158 82 1,520 605 1,150 96 1,523 2.24 2.34 2.40 3.33 3.29 3.25 4.09 4.09 3.00 5.05 1.00 4.00 1.92 3.20 5.97 1.00 4.00 2.00 Me 1.00 1,550 9,212 11,295 10, 918 14, 573 9,406 11,639 ! 11,272 ! 14,861 j 9,672 | 2,584 1 7 2, 564 11,970 11,613 15,293 9,935 8,179 2,941 4,169 82.4 8,198 2.869 4,253 82.7 8,713 ' 3,227 4,315 83.2 8,876 3,383 4,385 83.6 8,724 3, 205 4,452 83.7 14,951 5,193 5,927 12, 395 7,655 15,388 5,210 5.958 12, 591 7, 789 15, 508 5,180 5,799 12, 999 8, 111 15, 766 5,155 6,219 13, 081 8,132 16,013 5,124 6,212 13,008 8,106 15, 986 5,160 6,061 13, 219 8,266 1,488 2,982 8,321 1,646 3, 094 8,165 1, 655 3,147 8,270 1, 675 3,213 8, 241 1,686 3,263 8,327 1, 682 3, 220 8,317 1,732 3, 221 8, 430 3,992 365 3,936 340 3,865 336 3,886 339 3,891 344 3,892 347 3, 866 338 3, 843 328 652 603 652 602 690 728 712 848 591 1,149 104 1,511 583 1,156 114 1,521 583 1,160 113 1,537 574 1,161 111 1,516 579 1,160 109 I, 507 571 1,164 110 1, 515 572 1,169 117 1,543 560 1,169 115 1,567 2.564 11,026 10, 640 14, 261 576 1,161 118 1,502 9 ZP.A. 2.40 2.36 2.27 2.16 2.25 2.29 2.33 2.33 3.26 3.27 3.38 3.28 3.26 3.30 3.37 3.28 3.47 4.15 4.13 4.13 4.14 4.12 4.12 4.07 4.06 4.05 4.04 3.22 6.30 1.00 4.00 2.00 3.30 6.47 1.00 4.00 2.00 3.22 6.06 1.00 4.00 2.00 3.26 6.25 1.00 4.00 2.00 3.22 5.63 1.00 4.00 2.00 3.18 5.49 1.00 4.00 2.00 3.21 5.65 1.00 4.00 2.00 3.15 5.36 1.00 4.00 2.00 3.10 5.23 1.00 4.00 2.00 3.08 5.27 1.00 4.00 2.00 Me 1.00 Me 1.00 Me 1.00 1.00 1.00 M Me 1.00 Me 1.00 Me 1.00 1.00 H-l H-l iH H-l 94-1 m % H-H Me Me 1.00 5 /8 1M 1M .06 .04 . 03 . 03 .07 .05 .09 .67 .71 .71 .63 1.09 .08 .05 .70 .68 .94 .08 .05 1.01 .77 .82 avoid duplication, these loans are excluded from t h e totals * Less t h a n $500,000. • I n c l u d e s a small amount of Federal intermediate credit bank loans (direct) not shown separately. jBeginning Feb. 8, 1939, amounts previously classified as loans or securities b u t indirectly representing bank premises or other real estate owned are classified as "other assets" (not shown above). These amounts on Feb. 8, 1939 (the only week for which overlapping data are available), were $47,000,000 for loans, mostly real-estate loans, and $53,000,000 for securities. There was also a transfer on that date of a small a m o u n t of loans formerly classified as "Commercial, industrial, and agricultural" to "other loans." m m m m m 31 SURVEY OF CURRENT BUSINESS April 1939 Monthly statistics through December 1987, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary 1939 1938 February March April May June July August Septem- October Novem- December ber ber January FIN AN CE—Continued BANKING—Continued Savings deposits: Savings banks in New York State: Amount due depositors __mil. of dol__ U. S. Postal Savings: Balance to credit of depositors do Balance on deposit in banks do 5, 431 5,297 5,329 5,303 5,307 5,336 5,329 5,332 5,362 5,363 5,359 5,405 5,417 1,263 78 1,271 124 1,268 121 1,262 119 1,255 116 1,252 115 1, 252 101 1,252 99 1,248 98 1, 250 96 1,250 87 1, 252 84 1, 259 80 963 32 45 177 1,149 67 54 211 5 35 15 3 14 5 12 18 4 61 4 35 705 112 21,028 967 762 10,139 17 784 329 1, 840 2,094 84 357 595 466 2,384 63 1,126 6, 622 2,538 1,167 50 55 241 8 47 16 4 13 8 18 22 7 58 5 35 696 125 40, 325 809 955 27, 065 633 1, 962 308 15, 104 2,208 145 960 1,781 155 2,722 154 933 7,612 3,884 1,172 50 40 210 11 34 29 7 14 4 9 11 10 50 3 28 748 124 21,147 2,701 1,195 7, 535 168 1, 200 1,025 523 973 442 243 114 454 1,806 120 467 7,055 2,661 1,123 47 60 217 12 39 15 4 15 11 7 19 10 50 5 30 690 109 19,139 1, 196 757 6,860 222 717 464 155 573 480 668 328 416 1,382 510 945 7,879 2,447 1,073 47 59 198 2 24 19 8 15 7 8 16 4 62 6 27 665 104 15,918 841 1,234 5,939 11 1,522 395 265 196 94 280 304 152 1,157 166 1, 397 6, 520 1,384 1,038 51 45 210 7 32 24 2 14 7 13 20 6 58 3 24 629 103 14, 761 617 378 5, 957 100 2,143 389 295 258 221 291 293 350 991 150 476 5, 385 2,426 1,015 34 57 173 c© 37 12 2 11 6 12 9 7 41 6 22 629 122 16,382 344 1,128 6,147 91 747 370 76 764 62 256 434 549 2, 254 340 204 5,903 2,860 866 33 49 184 6 31 14 8 11 6 18 18 9 33 4 26 528 72 14,341 347 782 5,227 65 1, 606 480 696 204 57 261 415 124 981 77 361 6,450 1,535 997 47 43 172 10 38 14 4 8 5 12 16 7 30 7 21 627 108 13, 219 575 607 4,110 245 1,031 478 316 81 54 206 604 305 341 106 343 5, 251 2,676 984 48 55 196 6 44 13 0 10 10 12 15 7 51 8 20 586 99 12, 302 1,158 713 4,434 90 703 909 0 429 92 162 333 270 892 149 405 4,513 1,484 875 37 48 175 11 33 3 8 5 11 8 4 44 3 24 527 88 36, 528 1,628 797 ,285 185 1,,743 489 156 524 169 704 89 116 540 1, 206 364 4,142 23, 676 1,263 54 54 218 7 43 17 9 12 12 17 15 8 41 3 34 802 135 19,122 1,912 615 6, 803 81 1, 636 387 357 1,090 575 713 267 335 650 26 686 7,731 2,061 21, 705 4,217 673 3, 544 1,775 2,643 21,772 4,236 674 3,562 1,773 2,649 21,851 4,240 672 3,568 1,780 2,659 21,943 4,256 672 3,584 1,784 2,663 22, 057 4,276 672 3,604 1,797 2,667 22, 209 4, 291 672 3,619 1,800 2,665 22, 302 4,313 670 3,643 1,801 2,663 22,413 4,334 674 3, 660 1,792 2,663 22,520 4, 350 674 3,676 1,790 2,659 22, 620 4,361 673 3,688 1,790 2, 650 22, 729 4,381 670 3,711 1,751 2,636 11, 999 5,470 2, 668 2,720 1, 141 712 359 12,053 5,493 2,685 2,730 1,145 737 324 12,120 5, 490 2,713 2,761 1,147 731 321 12,159 5,510 2,730 2,764 1,155 759 322 12,199 5,486 2,760 2,756 1,197 785 333 12, 349 5, 560 2, 789 2, 752 1,248 774 330 12,388 5, 507 2,847 2, 754 1,280 803 334 12, 553 5, 598 2, 885 2,754 1,316 732 339 12,658 5,603 2,954 2,752 1,349 727 336 12, 629 5,603 2,950 2,726 1,350 821 369 12, 869 5, 794 3,004 2,649 1, 422 635 457 766 25 577 164 589,407 41,671 174, 092 373,644 246, 708 23, 354 10, 643 58, 314 154, 397 878 20 656 202 672,142 33,050 198, 025 441, 067 274, 277 24, 894 12, 656 58, 003 178, 724 833 16 643 175 617,475 37,815 193,131 386, 529 255, 403 21, 665 11,603 66, 589 155, 546 892 24 648 220 618, 807 43, 076 191,648 384, 083 254, 629 21, 662 10, 840 61,021 161,106 784 720 30 12 580 511 174 197 597, 773 528, 452 45,076 I 18,659 170, 312 153,392 382, 385 356,401 258, 072 287,110 26, 369 66, 779 11, 048 10, 423 56, 103 56, 737 164, 552 153,171 712 18 518 176 550, 960 33,443 156, 304 361, 213 245, 298 22, 652 10,608 60, 073 151, 965 760 16 582 161 519, 932 24, 924 173, 641 321,367 237, 697 19, 366 10, 408 60, 695 147, 228 822 24 598 200 592, 432 32,288 179, 553 380,591 234,120 20,905 9,980 57,253 145,982 865 34 608 223 671, 262 43, 754 182, 690 444,818 248,595 28, 515 10,001 55,034 155, 045 1,089 71 755 264 974, 920 91, 294 226, 085 657,541 355, 003 50, 208 12.148 96, 493 196,754 488, 703 36, 267 137,311 107, 443 50, 268 44, 810 18, 874 40, 522 13, 296 39,912 568,473 43, 357 155, 737 122,416 57, 612 53, 553 24, 658 48, 484 16,140 46, 516 499, 656 37, 527 138, 973 105, 226 51, 809 47, 631 21, 061 40, 355 14, 413 42, 661 490, 658 34, 758 133, 471 101,865 51, 575 48,159 20, 424 43, 622 13, 928 42, 856 502, 588 34, 880 137,997 106, 665 52, 342 48, 060 20, 865 42, 829 14, 856 44, 094 111 470,917 428, 482 28,648 30, 887 123,610 I 112.049 90, 542 97,453 45, 864 53,082 42, 111 46, 830 19, 504 18,834 36, 175 41, 235 13, 428 14,850 40,161 44,136 35,105 139,695 103,323 49,986 46,365 18,941 40, 218 13,504 41, 819 570, 648 44, 547 170,752 120, 493 56, 665 51, 957 23,548 40, 575 14,934 47,177 897, 886 729, 766 65, 390 58, 827 279,319 194,457 187, 742 174,370 93, 672 76, 498 79, 4(53 63, 300 34,198 27,101 62, 032 53,202 22, 075 17,806 73,995 64, 205 COMMERCIAL FAILURES f Grand total. „.__ number.. Commercial service, total , do Construction, total ...do.___ Manufacturing, total.— do Chemicals and drugs „ do Foods _ do Forest products do Fuels. „ -_-. do Iron and steel do Leather and leather products do Machinery do.»._ Paper, printing, and publishing do Stone, clay, glass and products. do Textiles ....do Transportation equipment do____ Miscellaneous do Retail trade, total— __._..do Wholesale trade, total _ _._ do Liabilities: Grand total thous. of dol_. Commercial service, total do Construction, total .do Manufacturing, total do Chemicals and drugs... do___. Foods . do Forest products do Fuels do Iron and steel do.... Leather and leather products do Machinery „ ..do Paper, printing, and publishing do Stone, clay, glass and products do____ Textiles . do___. Transportation equipment do Miscellaneous __._ ...do Retail trade, total do Wholesale trade, total do.___ 42 18 6 9 9 11 16 4 31 0 19 618 91 12,778 262 968 4, 985 125 1,482 306 118 255 512 112 1, 055 0 528 5, 251 1,322 LIFE INSURANCE (Association of Life Insurance Presidents) Assets, admitted, totalj..—, mil. of dol.. Mortgage loans, total _>__..__do Farm _ do Other do Real estate holdings do Policy loans and premium notes do Bonds and stocks held (book value.) total mil. of dol__ Government (domestic and foreign)___do Public utility _„ ......do...Railroad... „ do Other do Cash Other admitted assets.._ .do do. Insurance written :£f} Policies and certificates, total number 675 thousands. Group do__. 39' Industrial „ _-___.__.do__ Ordinary do___ Value, total thous. of dol_ 570.448 40,322 Group __do Industrial do I 109,871 Ordinary do I 420. 255 Premium collections, total do j— Annuities do iGroup do Industrial. _ do Ordinary _ ...do 648 30 357 262 729, 954 51, 899 99, 363 578,692 277,860 35, 905 12,914 65,146 163, 895 (Life Insurance Sales Research Bureau) Insurance written, ordinary, total.thous. of dol__ New England do~__ Middle A t l a n t i c . do____. East North Central do West North Central do_._. South Atlantic „_ __. do East South C e n t r a l . do West South Central do Mountain do . Pacific „ do . . . Lapse rates _1925-26=*100__ I 457, 224 31, 795 118,748 99, 159 51, 227 42, 860 17, 586 41, 694 13,990 40,165 t Revised series. Data revised beginning June 1934; see table 3. pp. 17-18 of the December 1938 issue. t 37 companies having 82 percent of total assets of all United States legal reserve companies, © 40 companies having 82 percent of total life insurance outstanding in all United Stai s legal reserve companies, 32 SURVEY OF CURRENT BUSINESS Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the February 1988 Supplement to the Survey April 1939 1939 1938 February March April May June July August Septem- October Novem- December ber ber January FINANCE—Continued MONETARY STATISTICS Foreign exchange rates: 0.332 0.312 0.335 0.332 Argentina dol. per paper peso__ .169 .170 .169 .169 Belgium _ _.dol. per belga__ .059 .058 .059 .059 Brazil _ -dol. per milreis.. . 350 .379 .376 .374 British India dol. perrupee.. .995 .997 .994 1.000 Canada dol. per Canadian dol.. .052 .052 .052 .052 Chile dol. per peso.. .026 .031 .031 .033 France.__ dol. per franc. .401 .402 .402 .404 Germany. _dol. per reichsmark.. .053 .053 .053 .053 Italy _ dol. per lira.. .273 .289 .290 .290 Japan _ dol. per yen.. .536 .556 .556 .560 Netherlands _ ___dol. per guilder.. .058 .058 .061 Spain _p __dol. per p t p 0) .257 .257 .259 S d d l dol. per krona.. Sweden .241 4.984 4.981 5.018 United Kingdom dol. per £._ 4.686 .656 .655 .660 Uruguay dol. per peso.. .616 Gold: 12,768 12,778 12, 829 Monetary stock, U. S._ mil. of dol_. 14, 778 Movement, foreign: -614 -1,199 Net release from earmark^—.thous. of doL. - 4 8 , 553 -18,179 174 20 145 15 Exports __ -.do 8,211 52, 947 71, 236 223, 296 Imports _ -do Production: 929, 264 ,014,830 981,463 Union of South Africa, total fine ounces.. 857,077 931,457 903,010 Witwatersrand (Rand) do 195, 780 174, 792 204, 278 190,201 Eeceipts at mint, domestic (unrefined)-.do 6,697 6,319 6,338 6,337 Currency in circulation, total mil. of dol_. Silver: 2, 054 233 191 250 Exports § thous- of dol_9,927 15, 488 14, 440 15, 757 Im ports do .444 .448 .428 .428 Price at New York dol. perfineoz__ 24,128 21,465 21,197 Production, world thous. offineoz._ 1,729 1,735 1,430 Canada do 8,803 7,144 7,153 Mexico do 5,752 5,083 5,044 United States do Stocks, refinery, end of month: 6,302 4,120 5,708 United States —do 903 800 579 Canada do CORPORATION PROFITS (Quarterly) Federal Reserve Bank of New York: Industrial corporations, total (167 cos.) mil. of dol_. Autos, parts, and accessories (28 cos.) d o — Chemicals (13 cos.) Food and beverages (19 cos.)__.mil. of dol.. Machinery and machine manufacturing (17 cos.) mil. of dol.. Metals and mining (12 cos.) _do Petroleum (12 cos.) do.—. Steel (11 cos.) do.—. Miscellaneous (55 cos.) do— Telephones (91 cos.) (net op. in come) •_ do Other public utilities (net income) (52 cos.)t mil. of dolRailways, class I (net income) do___ Standard Statistics Co.. Inc. (earnings): Combined index, unadjusted*! 1926=100Industrials (119 cos.) _ __do___ Railroads (class l)*f do___ Utilities (13 cos.) do... Combined index, adjusted*! do—. Industrials (119 cos.) do— Railroads (class l)*f do... Utilities (13 cos.) _do_— 0.331 .168 .059 .371 .992 .052 .028 .402 .053 .289 .554 .058 .256 4.967 .654 0.331 .170 .059 .367 .989 .052 .028 .403 .053 .289 .553 .058 .256 4.958 .652 0.329 .169 .059 .368 .994 .052 .028 .402 .053 .287 .550 .057 .254 4.929 .649 0. 325 .169 .058 .364 .996 .052 .027 .401 .053 .284 .546 .057 .252 4.881 .642 0.320 .169 .059 .358 .994 .052 .027 .400 .053 .280 .539 .052 .248 4.804 .632 12,891 12,946 12,985 13,057 13,441 -53,947 -15,490 -20,942 -28, 785 -13,255 11 212 17 131 65 52, 987 55, 438 63,880 165, 990 520,907 [,022,678 ,014,533 ,034,928 940,341 933, 929 952,995 227, 621 197, 528 305,487 6,415 6,464 6,433 14,162 14,416 14, 599 401 4,985 .428 25,619 2,528 9,224 5,596 1,463 24,098 .428 20, 064 2,202 4,486 5,073 1,259 25,072 .428 20,154 2,400 4,160 5,441 823 24, 987 .428 19, 307 2,023 5,929 2,879 1,344 21, 533 .428 19, 565 1, 552 5, 000 4,624 1,671 10, 328 .428 6,939 495 7,212 470 7,843 355 7,887 488 6,396 552 6,824 611 4,492 633 2,409 698 4,075 676 12.9 50.0 5.3 1.0 11.1 <<6.7 13.0 52.8 4.1 1.5 10.7 '7.3 14.9 50.5 47.7 * 106.3 44.8 '74.9 42.1 3.4 32.8 '36.! 40.4 44. 5 102.5 '34.6 35.8 "M1.0 104.0 '38.5 34.4 38.7 * 49. 0 102.0 13,940 110,177 - 7 , 375 -62, 387 14,106 16 16 14 81 562, 382 177, 782 240, 542 156,427 193 18, 326 .428 24,071 2,112 9,019 4,530 7.7 1.9 13.6 112. 1 0.311 .169 .059 .349 .992 .052 .026 .401 .053 .272 .542 .046 .240 4. 669 .614 254 19, 186 .428 22, 490 1,603 8,417 4,679 24.2 20.0 • 35.2 0.311 .168 .059 .349 .991 .052 .026 .401 .053 .272 .544 .050 .241 4.670 .615 317 17,952 .428 20, 440 1,509 6,244 4,813 84.8 22.7 19.2 19.2 36.1 0.314 .169 .059 .352 .992 .052 .026 .400 .053 .274 .543 .051 .243 4.708 .620 ,046,338 ,035,341 ,041,394 :,024,057 ,028,774 962, 757 952,602 960, 561 944, 035 946,895 286, 493 301, 593 277, 500 333, 027 235, 337 233, 806 6,482 6,712 6, 570 6, 668 6,888 6,750 74.0 4.6 19.1 16.0 M.8 0.318 .169 .058 .356 .991 .052 .027 .400 .053 .278 .544 .051 .246 4.768 ••2.0 1.7 '38.4 32.2 ' 1.5 104.8 1,575 ~4~669 P72.5 P34. 1 v 114. 5 4 *80.7 p 31. 2 v 105. 9 PUBLIC FINANCE (FEDERAL) 37,424 37,167 37,194 37,596 38,395 38,426 38, 607 39, 427 39,631 Debt, gross, end of mo mil. of dol 37,636 37, 560 37,513 39,859 Public issues: 34, 291 33, 903 33,834 34,112 34,920 34, 950 34, 981 35, 743 35, 882 35,934 34, 603 34,486 34,465 Interest bearing* _ _.do 533 526 553 549 541 534 543 Noninterest bearing* do 556 535 551 589 546 528 Special issues to gov't agencies and trust 3,392 2,582 2,933 2,949 2,501 2,810 3,215 2,676 funds* _ mil. of dol. 3.156 2,481 2,518 2,943 3,090 Obligations fully guaranteed by the U. S. government:^ Amount outstanding by agencies, total. 5,410 4,852 5,064 5,001 4,853 4,987 4,646 4.646 4,647 5,015 4,992 5,009 4,993 mil. of doL. 1,381 1,410 1,410 1,395 1,410 1,383 1,410 1,410 1,410 1,404 1, 1,410 1,388 Federal Farm Mortgage Corporation.do 2, 888 2,937 2,937 2,937 2, 937 2,937 2,888 2,888 2, 937 2,888 2,888 Home Owners Loan Corporation do 2, 819 299 299 510 299 299 299 511 511 509 511 511 Reconstruction Finance Corporation.do 509 Expenditures, total, including recovery and relief f thous. of dol_ 662, 464 528, 329 751.953 642, 924 568, 613 937, 004 762, 697 682,823 764, 509 770,311 678,588 870, 278 693,385 347, 849 289, 654 476, 320 411,504 343,959 602, 762 405,740 386,401 453, 422 453, 731 373,861 500,024 391,451 General* _ _.do Recovery and relief* d o — 254,122 152, 608 195,597 201,841 206, 408 314,044 216, 406 236,179 242, 693 261,606 248, 587 307, 241 256, 746 10, 365 16,852 18, 172 5,308 9,703 8, 790 15, 514 12, 484 6,062 12, 743 10, 249 6,895 5,827 Revolving funds, net* do 2,200 800 135,107 47, 500 44, 500 43, 500 48, 500 48, 500 38, 500 Transfers to trust accounts* d o — 50, 000 56, 000 58, 000 19, 403 127 532 1,772 13, 215 3,864 1,385 6,914 137 626 0 8,685 13,645 745 Debt retirements* -.do 417, 349 349, 362 959, 404 272, 629 375,396 773, 948 311,092 487,487 710,603 331,965 381,644 704,494 308,152 Receipts, totalf do 22, 336 21, 950 23, 101 28, 673 28, 590 30, 797 27, 338 25,121 24,318 Customs d o — 22. 301 24, 203 26. 307 24,430 333,518 280, 601 916,945 302, 476 277. 765 747, 295 350, 426 362,286 682,544 315, 061 304, 572 662, 252 315,845 Internal revenue do 40, 699 541,900 41, 606 33,978 487,132 41,078 35,912 473, 804 50,764 Income taxes _ do— 50, 872 67, 586 706, 735 45,931 125, 870 72,036 3,470 91, 283 73, 859 4,927 77,707 85, 736 2,864 81, 508 81, 979 2,939 98, 992 Social security taxes* do d '1 Revised. Deficit. * Preliminary. 1Or increase in earmarked gold (—). •Number of companies included varies slightly. Quotations not available after Jan. 24, 1939. *New series. New items for Federal gross debt beginning July 1916 appear in table 21, p. 16, and for Federal expenditures beginning July 1931 in table 22, p. 17, of this issue. tRevised series. The Standard Statistics Co. index of railroad earnings and the combined index have been revised beginning 1932; see table 25, p. 18, of this issue. Total Federal expenditures and receipts revised beginning July 1931; see tables 22 and 23, p. 17, of this issue. §Revised series. Data revised for 1937, see table 19, p. 14 of this issue. cf By an act of Congress dated March 8, 1938 (Public, No. 442), the Commodity Credit Corporation was given authority to issue fully guaranteed obligations. The first such issue, to the amount of $206,174,000, was in May 1938, and is here included in "total amount outstanding, by agencies." Also included in the total is a small amount of guaranteed debentures of the Federal Housing Administrator, and in Feb. 1939, $114,146,000 for the U. S. Housing Authority. http://fraser.stlouisfed.org/t As a result of a consolidation, number of companies reduced from 53 to 52 beginning June 1938. Federal Reserve Bank of St. Louis April 1939 Monthly statistics through December 1937, together with explanatory notes and references to the sources of the data may be found in the 1938 Supplement to the Survey. 33 SURVEY OF CURRENT BUSINESS 1939 February 1939 1938 February March April May June July DecemOctober NovemAugust September ber ber January FINANCE—Continued PUBLIC FINANCE (FEDERAL)-Contd. Receipts, total—Continued. Internal revenue—Continued. Taxes from: Admissions to theaters, etc. .thous. of dol_. Capital stock transfers, etc do Sales of radio sets, etc _do__ Government corporations and credit agencies:! Assets, other than interagency, total mil. of dol_. Loans and preferred stock, total do Loans to financial institutions (incl. preferred stock) mil. of dol_. Loans to railroads do Home and housing mortgage loans.do Farm mortgage and other agricultural loans ...mil. of dol_. All other do U. S. obligations direct and fully guaranteed mil. of doL. Business property do_ Property held for sale do. All other assets do. Liabilities, other than interagency, totaLdo Bonds, notes, and debentures: Guaranteed by the U. S do Other... do Other liabilities incl. reserves do Privately owned interests do Proprietary interests of the U. S. Government ..mil. of doL. Reconstruction Finance Corporation, loans outstanding, end of month:f Grand total ..thous. of dol_. Section 5 as amended, total do Banks and trust companies, including receivers thous. of dol_Building and loan associations do Insurance companies do Mortgage loan companies ..do Railroads, incl. receivers do All other under Section 5 do Emergency Relief and Construction Act, total, as amended thous. of dol_. Self-liquidating projects (including financing repairs) .thous. of dol.. Financing of exports of agricultural surpluses thous. of doL_ Financing of agricultural commodities and livestock ..thous. of dol_. Direct loans to business (incl. participations) thous. of dol_. Total Bank Conservation Act, as amended thous of doL. Other loans and authorizations do 1,503 1,394 404 1,660 1,514 261 1,773 940 249 1,542 1,413 231 1,395 1,155 197 1,624 937 449 1,619 1,429 305 1,425 2,052 400 1,669 1,021 345 1,596 1,188 466 1,985 2,226 568 2,020 1,754 1,564 1,650 576 11,039 8,477 1,350 440 2,429 11,078 8,485 11,130 8,503 11,167 8,524 11, 365 8,452 11, 359 8,507 11, 335 8,502 11,451 8,562 11,515 8,527 1,358 447 2,385 1,358 468 2,368 1,357 475 2,346 11,317 8,476 1,333 491 2,340 11,319 8,496 1,342 446 2,405 11, 389 8,514 1,363 471 2,357 1,329 495 2,335 1,327 502 2,330 1,321 503 2,326 1,344 511 2,335 512 2,329 3,449 810 3,479 833 3,484 847 3,467 856 3,466 807 3,491 821 3,499 837 3,494 854 3,486 865 3,486 820 398 655 689 6,613 3,465 827 821 403 668 700 6,618 822 408 685 714 6,610 814 413 698 717 6,773 809 430 733 903 6,941 834 432 670 979 7,229 837 438 666 901 7,129 843 447 667 866 7,112 844 451 673 883 7,075 845 "•452 855 456 856 7,016 7,048 460 698 961 7,117 4,646 1,374 592 367 4,646 1,384 587 372 4,647 1,391 572 376 4,852 1,346 575 379 4,853 1,346 743 370 5,064 1,378 786 372 5,001 1,372 755 374 5,010 1,365 737 377 5,001 1,352 722 379 4,994 1,323 700 382 4,992 1,317 739 381 4,987 1,327 757 383 4,059 4,088 4,144 4,014 4,078 3,764 3,815 3,830 3,905 3,936 4,022 4,015 679 1,314 3,469 902 ,769,382 •1,787,310 1,802,193 1,820,233 1,711,652 '•1,717,719 1,671,575 1,690,171 1,710,379 1,738,298 1,754.152 1,814,364 1,781,297 665,040 "651, 470 •655, 940 653, 541 641,831 '642,167 647, 034 652, 527 662,155 679, 677 690, 546 710,084 671, 534 116, 791 146,124 143, 674 141,466 •135,785 1,930 2,251 2,376 2,372 2,323 2,926 3,549 2,547 2,582 2,560 101, 438 •126,222 126,840 126,762 r 98, 237 436,139 361,949 368, 431 369, 378 390, 233 11,651 5,816 12, 222 12, 111 11,138 242, 807 205, 625 320, 735 331,142 340,767 241, 850 181, 840 231, 737 235,162 238, 531 47 23,047 47 47 47 910 738 95, 934 102,188 88,951 73, 616 110, 664 72, 590 72,882 73,053 578,032 563,677 561, 964 564, 305 210,021 178,375 180,558 •565, 656 189,093 '•133,613 r 2, 288 3,530 98, 256 10, 781 -238, 025 237, 079 47 132,072 •129,707 r 2, 218 r 2,194 3,526 r 3, 510 100,232 ' 96, 287 398, 304 414,928 r 10, 681 '186,838 135,893 47 r 5, 901 127, 783 2,133 3,494 103,339 419,364 r 6, 042 198, 309 199, 691 187,365 188, 748 10,047 10,047 899 -897 ' 76, 093 ;0, 897 r 84,887 -•561,257 -200,177 127, 257 2,098 3,471 114,925 426,046 5,880 205,916 190,154 15, 047 715 92,137 98,224 554,925 553. 503 * 553, 307 551, 637 •201, 882 200, 945 203, 089 202,844 125,153 2,036 3,052 126, 534 428.041 5,730 205,851 190,108 15,047 696 103, 598 550,104 204,053 121,611 1,975 2,997 141,221 436,094 6,186 201, 633 180,890 20,047 696 107, 747 588, 835 206,065 118, 832 1,967 2,976 103,978 437, 789 5,992 208,067 182, 265 25, 047 755 109, 419 584, 551 207, 726 •187,388 CAPITAL FLOTATIONS New Security Registrations 1 (Securities and Exchange Commission) New securities effectively registered under the 93, 634 272, 448 223, 897 394,433 125,207 411,878 303, 280 144, 625 139, 672 69, 212 97, 371 Securities Act of 1933, total thous. of dol__ 21, 676 Estimated gross proceeds (total registrations, less securities reserved for conversion) 85, 276 231,123 222,595 315,968 106, 767 405,063 249, 989 140, 709 139,075 total thous. of dol_- 21, 366 186, 650 68,334 96,931 Type of security: 9, 645 64, 701 37, 316 22,090 20,932 13, 470 12,092 19, 443 26, 477 23,124 5,927 14,423 51, 526 Common stock do 2,707 3,225 7,697 2,481 2,962 4,557 18, 566 38, 762 2,028 3,854 4,438 21,441 Preferred stock do 3, 875 53, 284 13,160 8,992 23,038 7,595 22, 694 51,510 18,431 12,968 22,573 8,179 10,354 Certificates of participation, etc do 5,139 350 267,093 3,715 57, 413 56, 488 46,865 900 8,532 18, 215 33, 955 64,181 169,262 Secured bonds do 0 54,750 110,930 119, 804 84, 500 97,240 16,061 10,150 5,473 61,050 70,913 7,500 172,859 Debentures and short-term notes do Type of registrant: 6,341 1,074 417 523 0 1,450 563 0 377 8,281 815 4,548 1,451 Extractive industries do 59,681 4,537 31,964 101,158 117, 693 38, 319 57,226 31,981 11,096 7,200 6,821 8,605 35, 514 Manufacturing industries. do 39,944 42, 528 70, 787 36, 639 22, 390 6,660 Financial and investment do 81, 500 49,050 20, 754 31,094 8,528 68, 253 29,956 0 0 0 0 4,239 0 0 1,827 2,115 4,990 Transportation and communications-do 0 30,555 29,978 Electric light and power, gas, and water 0 275,173 103, 219 5,090 67, 308 64,514 21,145 84,919 3, 255 243,412 82, 280 108, 512 0 thous. of dol.3,864 2,414 969 5,402 1,500 0 3,415 63, 475 450 Other do 7,749 Securities not presently intended to be offered for cash sale for account of registrants: 5,992 9,604 4,278 1,672 7,334 10, 2.15 3,135 2,345 10, 622 Registered for account of others.thous. of dol.971 5,516 1,447 310 Registered for options and for other subse56 quent issuance thous. of doL23,114 0 23,931 34,199 7,406 0 0 83 4,389 420 2,288 Other securities not intended for cash 169 5 204 1,302 1,247 270 45, 311 sale thous. of doL. 3,615 43 25, 590 0 13 0 The total includes $12,576,000 of face amount installment certificates. ' Revised. ISeries differ from current presentation of the Securities and Exchange Commission, due to a reclassification of certain items, but data as shown here are comparable throughout. When earlier data are available on the new basis, they will be presented in the Survey. t Revised series. Data on Government corporations and credit agencies have been revised beginning June 1937 due to changes in the underlying U . S . Treasury Department compilations and are not comparable with the series shown in the 1938 Supplement. Several new series on loans and assets have been brought out, but no changes have been made in the series on liabilities. Data not shown on p. 33 of the November 1938 Survey will appear in a subsequent issue. For Reconstruction Finance Corporation loans outstanding, minor revisions prior to these shown above will appear in a subsequent issue. 34 SURVEY OF CURRENT BUSINESS Monthly statistics through December 1937, together with explanatory notes and references to the sources of the data may ba found in the 1988 Supplement to the Survey 1939 February April 1939 1938 February March May April June July 1939 August September October Novem- December ber January FIN AN CE—Continued CAPITAL FLOTATIONS-Contd. New Security Registrations—Contd. 1 (Securities and Exchange Commission) Estimated gross proceeds (total registrations less securities reserved for conversion)—Con. Selling and distributing expenses: Commissions and discounts,-thous of doL. Other selling and distributing expenses thous. of doL. Estimated cash proceeds to be used for: Total _do_. Organization development do — Purchase of: Plant and equipment*... .-do Other assets do Securities for investment do Securities for affiliation—.. do Increase of working capital __.do Retirement of preferred stock do Repayment of bonds and notes do Repayment of other indebtedness..do Miscellaneous do 1,190 6,856 4,531 3,356 2,164 4,378 7,761 6,675 215 824 356 891 557 1,175 1,051 2,088 14,956 201 132,847 153 ' 58, 917 87,041 429 51,129 226 208,291 211,172 26 279,808 65 94, 257 490 3,510 0 18,632 20 1,741 119 61,838 675 79 9,851 1,472 1,105 0 9,050 0 19,937 9,470 20 105,144 232 6,497 119 16,423 0 55, 477 24,385 108,238 8 62,979 0 5,503 25,053 1,505 7,860 0 42, 330 0 27, 241 40 5,029 13,819 175,812 15, 436 37 220, 277 158, 843 158,781 ' 37, 412 10 4,036 3, 453 13 2,416 0 4,239 0 3,303 1,331 2 0 64,829 899 1,259 0 62,084 2,524 291 0 44,143 0 ' 3,642 0 6.566 '358 161 8,293 6,287 4,387 2,016 1,180 681 904 347, 770 90 211,052 858 125,424 1,920 131,022 291 50,306 667 31, 654 123 5,625 0 180 5,012 200 10,139 0 21,745 0 8,716 447 270, 494 36,139 0 38,017 0 38, 375 798 2,997 18,168 88, 743 36 23,060 10,142 180 27, 669 0 8.400 10,494 64, 567 2, 036 16 1,915 0 20,399 0 1,675 35.523 69,058 3,161 0 513,132 348, 765 345, 879 202, 316 469,697 417,618 238,318 390,633 181,968 145, 983 390,133 • 181, 518 145,983 130, 276 • 126, 696 765,188 166,908 166,908 63, 922 394,787 220, 016 195, 016 '19,568 2,000 15, 650 194 192,534 ' 600 9,308 474 127, 826 0 0 1,850 33,150 88,219 63 63 0 0 r 61,434 ' 61,434 25, 692 13,550 130,013 2,886 0 0 2,886 164, 367 164,367 r 98,791 216.450 0 '•43,407 ' 54,822 450 500 0 0 0 0 450 500 • 235, 650 ' 79, 064 ' 79, 064 "235,650 ' 55, 545 211,141 5,412 4,013 Securities Issued (Commercial and Financial Chronicle) f Securities issued, by type of security, total (new capital and refunding).... thous. of doL. New capital, total do Domestic, total do Corporate, total do Bonds and notes: Long term do Short term ...do Preferred stocks do Common stocks do Farm loan and other government agencies thous. of doLMunicipal, States, etc do Foreiern, total do.... Corporate do Government do United States possessions do Refunding, total.._ do Domestic, total _do Corporate, total . .do Bonds and notes: Long term. do Short term do Preferred stocks.. do Common stocks do Farm loan and other government npeneies thous. of doL. Municipal, States, etc do Foreign, total _._do Corporate do Goyernment do United States possessions do Securities issued by type of corporate borrower: total thous. of doL_ New capital, total -do Industrial do Investment trusts, trading, holding, etc. thous. of doL. Land, buildings, etc do Public utilities do Railroads do Miscellaneous do Refunding, total do Industrial . do Investment trusts, trading, holding, etc. thous. of dol._ Land, buildings, etc do Public utilities do Railroads do Miscellaneous .. do ! 540,723 377,550 377, 550 23, 571 16, 722 0 1,278 5,571 310,090 43, 890 0 0 0 0 200, 519 83,380 ' 81,980 ' 40,852 r r 40, 747 30 0 75 ' 244,997 '352,212 '•126.079 '196, 483 ' 126, 079 ' 196,483 23,995 '11,683 22,335 289 1,215 156 ' 10,940 0 ' 70 '673 8.700 140,000 * 93, 384 ' 44, 799 0 0 0 0 0 0 0 0 118,918 '"155,729 118,918 '155,729 57, 643 r 66, 750 163,173 163,173 136.115 0 '41,128 1,400 0 0 1. 400 117,139 117,139 62, 225 101,286 0 34,829 0 62,105 120 0 0 57,432 211 0 0 17,050 10, 008 0 0 0 0 32. 450 22, 464 0 0 0 0 44,800 16,475 0 0 159,680 23, 571 20,171 103,077 ' 40, S52 105 81,638 23,995 8,660 78, 433 ' 11,683 6,139 0 375 2, 475 0 550 136,115 12 0 527 ' 40, 220 0 0 62, 225 215 400 40 12, 300 2,235 360 57, 643 45, 211 0 '0 ' 1,870 3,540 134 ' 66, 750 6,000 0 86 111.029 12. 000 1,500 0 ISO 61,830 0 0 0 277 1,265 10,000 890 0 ' 250 60,500 0 0 51,837 169, 380 62, 669 66, 266 ' 172, 755 184,642 r o0 r 66, 750 0 0 0 25, 692 ' 98,041 0 750 0 0 0 0 83, 725 ' 5, 254 0 0 0 0 30,810 51,500 ' 4, 932 ' 14,076 0 0 0 0 0 0 0 0 r r r 63, lfifi 37, 4 7 5 18, 405 301,107 203,316 143,261 123, 304 0 3,143 249 • 83, 049 0 820 1,018 61,484 300 1,950 188 r 42, 644 ' 36, 829 40 1,344 ' 4,431 479,112 • 276, 689 240,931 220,131 240, 931 200,131 ' 59,474 5, 427 r 43.925 0 '11,752 3. 798 1,900 2, 600 0 927 55, 000 120, 457 (I 0 118,146 ' 76,557 20,000 0 20,000 0 56, 559 56, 559 10,136 8,400 0 • 52, 696 ' 102, 986 0 0 0 0 0 0 0 0 ' 92,335 598, 280 " 92, 335 598, 280 ' 65,136 273, 237 0 152,373 25, 000 0 25, 000 0 174, 770 134,770 107, 558 ' 64, 956 0 180 0 272, '06 0 0 531 '85,122 r 4, 000 18, 435 0 189, 520 0 10, 974 4, 950 5, 000 0 186 20, 250 13, 500 ' 3, 269 ' 11,009 0 0 0 0 0 0 0 0 5,600 21, 599 0 0 0 0 322, 862 21, 700 ' 5,513 40,000 0 40, 000 0 20, 250 14,813 2,625 0 19,250 27,172 0 0 0 r 150, 023 ' 84, 887 '80,838 211,141 0 0 0 • 5 5 , i45 J 0 0 0 185,821 130,276 120, 365 r 337, 837 126, 696 '69,232 ' 2,181 0 0 0 0 0 238. 1S1 235,of6 200, 493 2,625 ! 337,159 150,201 63,922 ' 42, 644 ' 59, 474 40, 561 '17,963 '48,801 15,563 5, 427 1.027 0 ' 600 3, 000 0 500 100 0 0 0 r 725 350 1, 350 747 107 630 240 394 1,420 r 49,965 2, 562 16, 805 '51,775 ' 9, 704 770 ' 20, 729 6, 391 1 20, 441 0 3,148 740 6,330 ( ' . 0 0 0 0 0 0 2, 500 ' 1,540 3,712 0 0 ' 3, 888 1,500 10,136 25, 692 ' 98,791 ' 55, 545 211,141 '65, 136 273, 237 '107,558 2G0, 493 r 41, 659 ' 16, 180 ' 5, 500 2,002 4, 507 3, 986 14, 458 44, 656 ' 6, 404 0 120 23,570 0 0 0 0 94,284 0 0 0 4,000 46,045 0 0 0 100 169, 382 0 0 0 7,132 41,824 0 0 ' 47. 670 ' 149,915 18,414 38, 340 173,906 112, 525 '50,649 142, 760 ' 67,279 ' 53, 684 • 86, 988 89, 347 0 0 120 0 258, 659 ' 62, 902 0 0 0 0 0 416 139,795 46, 378 7, 500 132, 271 154,875 155,066 43, 764 0 850 300 5,000 0 (Bond Buyer) State and municipal issues: Permanent (long term) Temporary (short term). thous of dol__ do 169, 757 47,031 104,583 ' 88, 656 COMMODITY MARKETS Volume of trading in grain futures: 572 892 577 512 400 725 764 701 168 380 .mil. of b u . Wheat108 71 71 115 125 180 206 139 133 Corn. do—. 111 r Revised. •Includes reimbursement of corporate treasuries lor capital expenditures. 1 See footnote marked *T' cm P- 33. f Revised series. Data revised beginning Jan. 1937; figures not shown above will appear in a subsequent issue 336 147 325 ' 138 300 104 35 SURVEY OF CURRENT BUSINESS April 1939 Monthly statistics through December 1937, together with explanatory notes and references to the sources of the data may be found in the 1988 Supplement to the Survey February 1939 1938 1939 February March April May June July August Septem- October Novem- December ber ber January FINANCE—Continued SECURITY MARKETS Brokers Balances (N. Y. S. E. members carrying margin accounts) Customers' debit balances (net) Cash on hand and in banks Money borrowed __ . __ Customers' free credit balances mil. of dol_do _ do _ do _ 967 168 709 937 207 628 831 215 576 763 203 485 760 208 482 774 215 495 843 209 528 864 200 571 823 213 559 905 196 617 939 189 662 991 190 754 971 192 713 222 280 239 248 243 258 284 272 257 270 252 247 235 89.48 92.44 62.73 85.71 88.71 58.27 87.82 90.84 59.91 87.78 90.81 59.64 88.98 91.97 60.54 90.19 93.32 60.76 89.40 92.53 59.89 89.08 92.10 59.72 90.67 93.70 61.20 90.34 93. 33 61.02 91.27 94.35 60.11 91.03 94.25 58.55 72.31 98.81 93.61 93.52 41.97 66.70 98.26 93.48 78.90 37.85 63.62 97.63 93.24 73.38 35.37 67.09 101.70 97.06 75.31 38.16 60.36 104.88 97.68 72.55 30.55 68.72 107.75 99.65 75.10 39.09 65.68 109.37 99.05 74.14 35.47 0) 0) (0 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) (0 (0 0) 0) 0) 79.3 80.6 92.2 65.0 76.0 79.5 91.2 57.3 73.8 77.8 90.2 53.5 76.5 80.4 94.0 55.1 75.3 80.0 94.0 52.0 80.8 85.0 97.3 60.2 81.3 85.7 98.1 60.0 78.7 84.2 96.3 55.7 81.8 86.8 98.6 59.9 82.1 86.9 99.3 60.2 81.1 86.0 98.7 58.6 81.9 86.2 99.7 59.7 112.2 102.4 112.2 102.5 111.6 102.7 113.6 104.0 113.6 103.9 114.2 103.8 115.2 104.0 111.7 103.0 115.2 104.3 116.6 104.0 116.5 104.1 117.3 104.4 112,786 139,041 157, 513 201,181 128,938 180, 796 116,394 161,697 119,899 169,072 157, 370 232,147 117,162 161, 552 110, 826 166,812 139, 760 146,188 148,992 237, 245 207, 719 259, 364 157,278 224, 622 94, 784 134,016 115,972 170,871 108, 296 152, 817 89, 587 127,972 96, 606 140,524 127,133 194,877 93, 667 130,647 92, 923 133, 469 126, 207 195, 775 107, 389 116,550 169,415 221,469 119,160 178,731 127, 593 11,014 169,432 15,125 139, 715 18, 832 121,156 6,844 144, 821 9,729 178, 265 7,518 120,363 6,161 133,954 17,163 155, 868 217, 609 159,611 6, 535 4,419 7, 581 116,579 96,374 20,205 154,307 126,037 28, 270 120,883 102,133 18, 750 114,312 96,654 17,658 135,092 118,695 16, 397 170, 747 152,580 18,167 114.202 96, 692 17, 510 116, 791 177,506 94,417 155,698 22,374 21,808 47,895 43,124 4,770 42, 855 39, 862 2,992 48, 360 43,601 4,760 41, 450 38, 677 2,773 48,279 43,559 4,720 42,399 39, 571 2,828 48,244 43,551 4,693 42,347 39, 548 2,799 49,177 44, 489 4,687 43.757 40,919 2,838 49,409 44,657 4,752 44,561 41, 674 2,887 49,424 44,676 4,748 44,183 41,339 2,844 50,331 45, 649 4,682 44,837 42,041 2,796 3.05 3.19 3.08 3.05 3.00 3.01 2.88 2.98 4.23 4.36 4.50 4.28 4.40 4.17 4.09 4.17 3.20 3.51 4.24 5.97 3.22 3.56 4.34 6.30 3.30 3.73 4.49 6.47 3.22 3.56 4.28 6.06 3.26 3.68 4.41 6.25 3.22 3.62 4.21 5.63 3.18 3.57 4.13 5.49 3.21 3.60 4.20 5.65 3.57 4.07 5.06 3.58 4.05 5.44 3.64 4.11 5.75 3.51 3.90 5.44 3.55 3.90 5.75 3.48 3.79 5.25 3.43 3.76 5.09 2.99 2.64 2.99 2.64 3.03 2.62 2.91 2.51 2.91 2.52 2.87 2.52 2.82 2.51 Bonds Prices: Average price of all listed bonds (N. Y. S. E.) 91.85 dollars.. 95.01 Domestic do Foreign _ _ _ _ _ do _ 59.68 Dow-Jones & Co., Inc. (40 bonds) percent of par 4% bond_0) Industrials (10 bonds) do 0) Public utilities (10 bonds) do 0) Rails, high grade (10 bonds) do 0) Rails, second grade (10 bonds) do... Standard Statistics Co., Inc. (60 bonds) 82.1 dol. per $100 bond.. 86.4 Industrial (20 bonds) .do 100.7 Public utilities (20 bonds) . . _ do Rails (20 bonds) do 59.0 Domestic governmental issues: Municipals (15 bonds) ._ . do _ 117.3 U. S. Treasury! do 104.7 Sales (Securities and Exchange Commission): Total on all exchanges: Market value . _ --thous. of dol 126, 687 166,855 Par value . . . do On New York Stock Exchange: 86,903 Market value thous. of dol 121,222 Par value do Sales on N.Y.S. E.. exclusive of stopped sales (N. Y. S. E.) par value: Total thous. of dol. 118,993 4,871 U. S. Government. do Other than U. S. Government: 114,122 Total do 96, 722 Domestic do Foreign _ do 17,400 Value, issues listed on N. Y. S. E.: 51,466 Par value, all issues mil. of dol Domestic issues ..do _ 46, 862 Foreign issues _ _ _. _ . do 4,604 Market value, all issues do 47,271 44, 524 Domestic issues do Foreign issues... _ _ . do 2,748 Yields: Bond Buyer: 2.80 Domestic municipals (20 bonds) percentMoody's: 3.81 Domestic (120 bonds) . do By ratings: 3.00 Aaa (30 bonds) . do 3.26 Aa (30 bonds) . do. . A (30 bonds) do 3.94 5.05 Baa (30 bonds) do By groups: 3.29 Industrials (40 bonds) . . . do. _ 3.52 Public utilities (40 bonds) ..do Rails (40 bonds) do 4.63 Standard Statistics Co., Inc.: 2.70 Domestic municipals (15 bonds). . . d o _ U. S. Treasury bondst. do 2.44 Stocks 185,179 7,673 151,449 130,133 21,316 211,074 185,528 25, 546 152,030 131,490 20, 540 50, 301 45, 640 4,661 45,442 42, 597 2,844 51, 554 46,920 4, 634 47,053 44, 268 2,785 51, 587 46,933 4,654 46,958 44, 233 2,725 2.90 2.83 2.78 2.76 4.03 3.95 3.95 3.86 3.15 3.53 4.08 5.36 3.10 3.46 4.02 5.23 3.08 3.42 4. 02 5.27 3.01 3.32 3.97 5.12 3.50 3.82 5.18 3.43 3.73 4.94 3.39 3.65 4.83 3.40 3. 63 4.82 3.31 3.57 4.70 3.02 2.58 2.82 2.48 2.74 2.50 2. 75 2.49 2.70 2. 47 50, 225 45, 546 4,679 45, 539 42, 675 2,864 Cash dividend payments and rates (Moody's): Annual payments at current rates (600 companies) _ mil. of dol 1, 329. 91 1, 510. 79 1, 457. 60 1, 443.85 1,328.37 1, 287.10 1, 288.80 1,295. 20 1, 293. 92 1,203.59 1,328.16 1,315.04 1.310.25 935.03 929.10 929.00 929.10 929.10 929.10 929.10 929.10 929.10 929.10 929.10 935.03 935.03 Number of shares, adjusted millions Dividend rate per share (weighted average) 1.57 1.39 1.43 1.41 1.63 1.55 1.39 1.39 1.39 1.43 (600 cos.) dollars 1.42 1.39 1.41 3.01 3.07 3.07 3.07 3.07 3.00 3.00 3.00 3.00 3.00 3.00 3.01 3.01 Banks (21) do _ Industrials (492 cos.) do 1.30 1.49 1.42 1.41 1.27 1.22 1.23 1.24 1.24 1.24 1.29 1.28 1.28 Insurance (21 cos.). do... 2.31 2.38 2.38 2.38 2.37 2.22 2.24 2.24 2.24 2.24 2.24 2.31 2.31 Public utilities (30 cos.) . . do 1.91 2.02 1.97 1.93 1.91 1.94 1.94 1.94 1.93 1.93 1.94 1.92 1.91 .90 .85 .90 Rails (36 cos ) do 1.54 1.54 1.54 1.29 1.18 1.09 1.09 1.09 1.09 1.05 Dividend declarations (N. Y. Times): 303,839 304,053 171,979 152, 753 366,435 222,001 167,170 240,965 185, 428 180, 506 509,160 247,569 194,118 Total— thous. of dol 289,412 277,143 166,012 147,052 353, 652 207, 374 157,175 230,994 182, 735 169,901 486. 396 229,916 181,480 Industrials and misc do 14, 427 26,910 5,967 9,970 2,693 10, 605 22, 765 17, 653 12, 638 5,701 12, 783 14, 627 9,995 Railroads do Prices: Average price of all listed stocks (N. Y. S. E.) 62.6 64.4 60.6 65.4 66.2 57.3 44.2 58.3 60.6 49.8 48.1 62.2 64.1 Dec. 31, 1924=100 Dow-Jones & Co., Inc.: (65 stocks) 43.98 49.64 49.32 49.13 48.68 40.92 36.38 38.73 46.13 50.32 37.86 35.57 46.05 dol. per share137.04 150. 36 151. 96 150.12 146. 87 144.60 126.08 114. 20 118.79 139. 47 140.97 Industrials (30 stocks) __do 119. 07 112.85 24.94 22.92 22.00 19.38 21.64 20.01 18.49 21.94 23.30 19.23 17.96 17.76 23.35 Public utilities (15 stocks) do . . 30.62 21.82 28.49 25.62 30.52 30.31 19.09 Rails (20 stocks) .do. . 24.63 21.52 31.29 31.20 28.16 28.81 1 Discontinued by the reporting source. tRevised series. Revised data for U. S. Treasury bond prices beginning 1931, and TJ. S. Treasury bond yields beginning 1919, appear in tables 17 and 16, p. 18 of the March 1939 Survey. 36 SURVEY OF CURRENT BUSINESS Monthly statistics through December 1937, together with explanatory notes and references to the sources of the data may be found in the 1938 Supplement to the Survey 1939 February April 1939 1938 February March April May June July 1939 A u g u s t ) ^ ™ - October Novem- December ber January FINANCE—Continued SECURITY MARKETS—Continued Stocks—Continued Prices—Continued: New York Times (50 stocks)__dol. per share. Industrials (25 stocks) do Railroads (25 stocks) do Standard Statistics Co., Inc.: Combined index (420 stocks) 1926=100__ Industrials (348 stocks) _ do Public utilities (40 stocks) _.do__. Rails (32 stocks) - do Other issues: Banks, N. Y. C. (19 stocks) do Fire and Marine insurance (18 stocks) .do. _ Sales (Securities and Exchange Commission): Total on all exchanges: Market value mil. of dol Shares sold thousands On New York Stock Exchange: Market value mil. of dol Shares sold _ _ _ . thousands Exclusive of odd lot and stopped sales (N. Y. Times) thousands.. Shares listed, N. Y. S. E.: Market value, all listed shares mil. of doL. Number of shares listed .millions.. Yields: Moody's, common stocks (200) percent.. Banks (15 stocks) _ do Industrials (125 stocks) — do Insurance (10 stocks) do Public utilities (25 stocks) . do Rails (25 stocks) __ ___ do Standard Statistics Co., Inc., preferred stocks: Industrials, high grade (20 stocks).percent.- 102. 22 181.21 23.24 89.73 157.18 22.28 83.14 148.12 18.17 81.92 146. 70 17.13 80.47 143.93 17.01 85.70 153. 92 17.49 98.90 175. 95 21.85 99.74 177.53 21.95 95.68 171. 70 19.68 106. 81 189. 69 23.95 105.29 186. 99 23.59 105. 36 186.99 23.74 102. 73 181.82 23.64 90.1 106.3 83.8 28.0 80.7 95.7 71.2 28.3 77.9 92.7 68.5 25.5 70.7 84.2 64.0 20.9 73.9 87.4 69.5 21.8 73.1 86.4 69.2 20.5 88.0 105.3 76.5 27.3 89.5 108.0 75.0 27.8 86.0 103.9 72.2 25.5 91.1 109.6 77.4 28.1 94.7 113.6 80.9 30.0 92.0 110.6 77.9 28.8 91.8 109.3 81.2 29.8 51.1 85.7 51.8 77.8 49.3 73.2 48.0 70.8 48.3 74.5 47.2 77.5 51.2 85.5 49.9 85.5 46.7 82.8 51.0 87.0 49.6 87.4 47.7 85.3 50.0 86.1 655 26,057 681 28,558 885 42, 656 751 35, 759 566 26, 635 842 39,875 1,621 70, 651 988 40, 515 943 40, 542 1,573 67,924 1,306 53,496 1,225 52,913 1,129 47, 393 561 19, 538 608 21, 749 789 32, 524 679 28,151 499 20,153 752 30,198 1,474 57, 636 891 32,151 850 32,035 1,397 54, 625 1,157 41,923 1,065 39, 954 986 37,051 13, 877 14, 525 23,000 17,120 14,008 24, 364 38, 762 20,723 23, 826 41, 561 27, 923 27, 490 25,186 46, 271 1,426 41,173 1,423 31, 858 1,427 35, 865 1,426 34, 585 1,424 41,962 1,427 44,784 1,427 43, 526 1,425 43, 527 1,425 47,002 1,426 46,081 1,427 47, 491 1,424 44,884 1,425 3.7 4.6 3.3 4.0 5.3 3.2 4.6 4.7 4.0 4.3 6.5 5.6 5.9 5.7 5.2 5.5 8.1 8.8 5.1 5.1 4.6 4.7 7.0 7.8 4.9 5.4 4.3 4.8 6.8 6.9 3.9 4.8 3.3 4.0 6.2 5.0 3.7 4.7 3.1 4.0 6.1 4.1 3.8 4.9 3.3 4.0 6.2 4.4 3.8 5.0 3.2 4.1 6.2 4.5 3.6 4.8 3.0 3.9 5.7 3.9 3.8 5.0 3.3 3.9 5.9 3.6 3.6 4.8 3.1 4.1 5.7 2.9 3.8 4.8 3.4 4.1 5.6 3.5 4.94 5.25 5.30 5.47 5.32 5.29 5.17 5.07 5.08 4.99 4.92 4.94 4.94 Stockholders ( C o m m o n Stock) 645, 222 7,137 216, 726 2,942 168 509 3,140 23.70 American Tel & Tel Co total number Foreign do Pennsylvania Railroad Co., total _ do Foreign do U S Steel Corporation total do Foreign _ . _ . do Shares held by brokers percent of total 646, 671 7,173 214, 532 2,874 168, 399 3,084 24.89 648, 056 7,180 216, 847 2,928 171,198 3,09§ 23 65 649,117 7,187 217, 748 2,953 172, 219 3,166 22 54 FOREIGN TRADE INDEXES Exports: Total value, unadjusted 1923-25= 100._ Total value, adjusted do U. S. merchandise, unadjusted: Quantity do Value __ _ . . do _ Unit value do [mports: Total value, unadjusted do Total value, adjusted do Imports for consumption, unadjusted: Quantity 1923-25=100.. Value do Unit value _ ._ _ . .do _ Exports of agricultural products, q u a n t i t y : Total: Unadjusted 1910-14 = 100 Adjusted, _ do Total, excluding cotton: Unadjusted .do Adjusted do 58 63 69 76 73 72 72 76 68 72 61 69 60 68 61 66 65 62 73 60 66 58 71 67 ot 5t 92 58 63 103 70 68 108 73 67 110 73 66 105 68 65 95 62 65 94 60 64 96 61 64 102 65 64 116 74 63 107 67 63 111 71 64 91 5f 6. 49 49 50 51 54 48 50 46 46 45 45 47 44 47 51 53 52 55 55 54 55 55 53 54 5. ot 89 48 54 87 49 56 97 54 56 88 49 55 81 46 55 87 46 53 88 46 53 102 54 53 102 54 53 104 56 54 99 54 54 99 52 53 1(X f>; 61 66 79 85 78 79 79 93 74 89 57 74 62 86 61 76 71 66 83 62 81 62 68 54 6$ 61 87 95 103 113 93 94 108 116 133 140 95 106 102 113 101 102 87 81 101 87 90 83 84 78 % 9> Exports, incl. reexports thous. of d o l . . 218,559 B y grand divisions and countries: Africa do 8, 523 46, 406 Asia and Oceania _ _ do Japan do 17. 484 95,445 Europe . do France. . __ do._ 10, 653 Germany do 5,176 Italy, . .do _ 3,889 38, 678 United Kingdom do 26. 25S North America, northern _ _ do Canada do 25, 764 North America, southern do 20, 453 Mexico _ _ _ _ _ . _ .do 5.928 21, 472 South America do 4,067 Argentina . . d o Brazil . . d o . . 5,120 Chile do.... 1,480 262, 733 275,711 274, 482 257,177 232, 686 227, 780 230, 621 246, 321 277, 928 252, 231 268, 756 212, 90S 12, 232 48,965 19, 466 123, 500 11,308 7,856 4,679 49, 352 30,130 29, 574 23, 337 7,089 24, 570 7,633 4,177 1,932 10, 955 59, 461 22,696 115,569 12,839 8,161 5,225 40, 600 36, 207 35, 510 25, 492 6,132 28,027 8,217 4,788 2,842 9,928 61,933 28,837 105, 725 12,312 9,169 5,101 34,900 46, 591 45,926 21,909 3,938 28, 396 9,466 5,428 2,387 7,456 47, 052 18,074 100,418 10,073 7, 280 4,686 35, 325 55,214 54, 506 19, 999 4,066 27, 039 9,121 5,207 1,813 8,622 47, 586 15,485 87, 835 8,859 6,330 4,246 30, 223 45, 303 44, 732 20,094 4,966 23,247 6,569 4,394 1.500 9, 194 43,118 13,938 90. 265 9.473 5,620 4, 931 32,231 43, 489 42, 769 17, 967 3,606 23, 746 6,408 4.953 2.117 7,271 40, 579 13, 607 102,995 8.381 10,270 3,621 41,432 39,545 38,829 20, 034 4,136 20,196 4,318 4,222 2,072 7,890 45,107 19, 806 112, 702 11, 235 12, 057 4,132 50, 737 36, 752 36,170 21,156 4,465 22, 755 5,944 4.849 1.913 10, 308 50, 990 19, 502 127,710 12, 322 10, 166 5,385 56,140 42, 971 41,895 23, 285 4,501 22, 664 6,034 5.382 2, 123 9,767 48, 494 19,104 110,192 13,788 8,620 5,091 43,238 38,992 38,513 21,473 5,239 23,314 6, 796 5,143 1,741 13,185 61,591 28, 528 112,672 11,134 8,317 5,141 46, 825 29,067 28, 458 23, 705 5,829 28, 538 7,736 0, 749 2. 139 8,07. 42, 44, 17, 69S 95, 83( 10, 81* 6,39, 4,381 42, 46. 27, 061 26, 68^ 20,80 5.58 18, 69, 3,11' 4.96* 1,73 5: VALUE § .Revised scries. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of this issue. 37 SURVEY OF CURRENT BUSINESS April 1939 Monthly statistics through December 1937, together with explanatory notes and references to the sources of the data may be found in the 1938 Supplement to the Survey 1938 1939 February February March April May June July 1939 August September Novem- DecemOctober ber ber January FOREIGN TRADE—Continued VALUE—Continued § Exports incl. reexports—Continued. By economic classes (II. S, mdse. only): Total thous.ofdol Crude materials do Cotton unmanufactured do Foodstuffs, total do Foodstuff? prude do Foodstuffs and beverages, mfgs...do FruHs and preparations do.. . Meat? and fats do Wheat and flour do Manufactures, semi. do Manufactures, finished do Autos and parts do Gasoline _ do Machinery . do General imports, total do By grand divisions and countries: Africa do_ Asia and Oceania . do_ _ Japan do Europe do_ _ France do Germany do_ Italy do United Kingdom do North America, northern __ do_ _ Canada do North America, southern _ __do Mexico do South America do Argentina __do Brazil do Chile do_. By economic classes (imports for consumption): Total thous.ofdol Crude materials do Foodstuffs, crude do_ Foodstuff? and beverages, mfgs do Manufactures, semido Manufactures, finished do 216,036 36,485 13,732 26, 553 11,402 15,151 6, 404 4,145 7,403 34,868 118,128 25, 335 6,367 34,605 158,035 259,958 48,212 21,162 39, 441 26, 076 13,365 5,629 3,753 11,438 41,720 130,585 28,088 7,819 41,412 163,085 270, 837 47,028 23,148 35, 530 20,833 14, 697 6,322 4,289 11,337 46,170 142,111 28,791 7,666 46,067 173,405 271,499 44, 487 20,137 38,557 25, 562 12,995 6,267 3,776 8,405 46,284 142,171 26, 370 9,861 45, 635 159, 907 253,615 34,770 10,403 48,169 34,140 14, 029 7,195 4,431 13, 241 42,849 128,028 20, 563 8,732 42, 382 148,260 229,£15 34, 498 9,442 34, 556 20,988 13,668 4,296 4,202 8,226 37,015 123, 447 17,202 8,811 41,545 145, 898 225,111 32,809 10,460 38,029 24,556 13, 473 5,914 4,049 11,436 37,270 117,003 17,469 9,042 39,719 140,836 228,143 43,789 10, 689 35,826 22,164 13,662 7,519 3,150 9,064 35,615 112,912 12,299 9,572 39,461 165, 540 243, 621 59,605 20,511 31, 391 14,254 17,137 10, 365 3,944 4,038 40,159 112, 465 14,171 8,370 36,626 167,651 274, 319 72,132 24, 056 33, 290 12, 509 20,781 13, 253 4,110 4,030 44,454 124,443 17, 303 9,085 38, 653 177,979 249,694 59,867 25,016 29,474 12,045 17,429 10,116 4,113 4,473 39, 955 120, 399 25, 417 8, 516 34, 550 176,181 266,171 49, 376 19,048 28,422 11,170 17, 252 10,000 4,204 4,588 50,499 137,874 29,161 12,292 40, 908 171,474 210,258 36, 391 14,975 31,051 16,443 14,608 7,227 4, 596 8,201 35,452 107,365 21,396 7,449 31,217 178,201 6,479 42, 780 7,896 47,722 5, 234 4,930 2, 669 10, 995 20,302 20,129 18,650 5, 270 22,102 6,086 7, 667 2,272 4,200 63, *07 8,926 44,407 3,981 4,119 2, 612 £,024 16, 600 16,449 20,238 4,242 24,134 4,733 9,064 2,834 6,137 53,246 9,893 44, 342 4,859 4,374 3,808 8,679 20,266 19,922 24,405 5,045 25,011 3,743 8,645 4,129 5,689 49,937 10, 519 41, 014 4,007 4,614 4, 394 7, 567 20, 240 19,673 22, 621 5,941 20,407 3,055 7,096 3.500 4,811 42, 868 7,020 40, 682 3, 584 4,829 3,172 8,693 20,968 20,487 19,305 4,184 19,626 3,441 7,004 2,522 3,047 45,716 10, 688 40,109 3,24S 4, 534 4,184 7, 889 19,829 19,027 17,910 4,215 19,287 1,909 6,686 2, 310 4,416 36,909 8, 5£4 39.781 3, 589 4,393 2,587 7,262 22,803 21,973 17,964 4, 606 18,963 1,689 7,564 1,171 5, 851 44,394 10,103 49, 366 4,357 5,627 2,824 10,143 23,899 23, 334 21, 329 3,295 20, 701 2,835 7,432 1,571 3,799 46,899 11,839 52,150 5,397 5,794 3,170 10,445 24,186 23, 500 17,924 2,440 22, 693 3,882 8, 820 1,681 5,081 49,131 11,678 58,714 5,992 7,289 4,520 13,801 27, 049 26, 249 16,183 3,134 21,821 3,631 8, 536 1,648 4,069 56, 033 14,053 54,623 5,191 6, 923 3, 656 12,898 25,839 25, 232 12, 566 3, 084 23, 051 3, 566 9,150 1,567 4,145 52,130 12.020 53, CC9 5, 586 6, 256 3.397 12,251 24,3C0 23, 554 12, 753 4,748 24, 538 4, 252 9,191 2, 457 3,741 51,818 11,285 51,273 4,703 5, 231 ?., 266 11,331 26,136 25, 222 17,924 5, 429 27,309 6, 633 8, 420 3,277 152,528 48, 07,3 22,947 18,635 34,047 28,827 155,941 46,704 22,482 24, 570 29,700 32, 486 173,328 51,173 25, 001 30, 508 32,141 34, 505 155,501 43,805 21,059 28,436 28, 564 33,637 147,243 40, 248 19, 555 26,177 27,846 33, 418 147,938 38,003 20, 485 26,657 30, 360 32,432 147,797 43, 236 20,344 23,711 29,607 30,899 171,053 49,498 21,663 27,829 35, 030 37,033 172,947 52, 377 20,473 28,639 33, 591 37, 868 178, 460 53, 708 21,120 27, 240 35, 753 40,639 171,652 52, 355 23,788 22,995 35,172 37, 342 155,522 53,465 23,093 20,887 35, 265 32,812 169,323 53 890 26, 774 16, 638 37 158 34,864 8,409 123 9,497 115 9,404 127 9,240 131 11,338 &/20 7.889 7.889 789, 695 775,461 56, 582 55 2 7.888 838, 707 60,028 7.888 790,120 56,869 63 76 64 37 71 40 59 22 65 69 67 55 42 79 41 62 102 76 2,302 515 30 103 129 53 561 33 878 218 106 67 TRANSPORTATION AND COMMUNICATIONS TRANSPORTATION Express Operations Operating revenue thous. of dol__ Operating income do Electric Street Railways Fares, average, cash rate Passengers carried t Operating revenues _.. 7,873 cents.. thousands.. 737,164 thous. of doL. 8,725 214 9,169 137 9,202 131 9,165 124 124 7.884 731,313 52, 560 7.878 821,984 58,233 7.878 785, 798 56, 557 7.909 773,674 55,650 7. 909 737, 235 53,241 7.889 680, 255 49,615 7.889 700, 569 51,132 7.889 729,663 52, 229 57 49 34 36 69 37 60 37 64 58 57 35 35 77 42 60 26 61 49 34 37 80 32 59 62 64 58 58 37 35 82 39 59 36 62 62 52 36 37 123 34 59 60 66 61 62 43 37 89 39 60 32 65 63 56 38 41 101 37 61 63 68 62 63 46 40 84 37 60 34 67 71 71 49 43 83 50 64 72 78 64 68 51 40 74 39 61 41 69 75 76 50 43 95 62 65 71 82 68 69 50 42 95 44 62 48 72 70 76 58 39 76 53 41 76 69 70 58 40 81 44 61 74 74 64 78 58 37 72 40 59 23 67 69 69 53 43 83 41 61 92 74 2,186 344 16 105 130 51 697 f5 887 328 152 133 2,760 432 20 132 186 53 717 118 1,101 316 141 132 2,273 353 17 104 223 44 563 90 879 256 105 112 2,392 382 18 120 191 49 598 98 936 229 100 92 2, 553 468 22 120 148 63 604 106 1,022 169 86 49 3,542 6fi8 31 159 221 102 799 141 1,422 144 68 42 2, 530 511 26 109 137 69 594 65 1,018 175 85 51 2,949 664 35 131 163 67 708 44 1,138 221 106 71 8,251 Class I Steam Railways Freight-carloadings (Federal Reserve): Combined index, u n a d j u s t e d . . _ 1923-25=100.. Coal do Coke do Forest products do Grains and grain products do Livestock do Merchandise, 1. c. 1 do Ore do Miscellaneous do Combined index, adjusted. do Coal do Coke_. do Forest products do Grains a n d grain products do Livestock _-_ do___ Merchandise, I. c. 1 do Ore do Miscellaneous do Freight-carloadings (A. A. R.).*1 Total cars thousands.. Coal do Coke ...do Forest products do Grains a n d grain products do Livestock.. do Merchandise, 1. c. 1 do Ore do Miscellaneous do Freight-car surplus, t o t a l . . _ do Box cars ...do Coal cars .do 62 76 62 35 64 31 60 22 64 67 65 46 36 70 38 62 93 75 57 63 47 37 69 34 60 19 59 62 54 35 38 76 41 62 78 69 2,297 529 30 99 116 42 577 34 870 209 102 63 2,156 442 23 105 127 45 577 29 809 321 144 131 2, 223 381 20 108 133 44 606 31 900 312 133 134 2,650 405 20 122 160 58 754 40 1,092 317 138 137 f Revised. t F o r comparable m o n t h l y figures, J a n u a r y 1929-December 1936, see table 10, p . 15 of the M a r c h 1939 Survey. D a t a shown in t h a t table beginning J a n u a r y 1937 have been revised, w i t h 203 companies reporting as compared w i t h 206 in the earlier period. Comparability of the data is affected t o only a slight degree. Revisions n o t shown above are as follows (thousands): 1937, J a n . , 803,300; F e b . , 761,615; M a r . , 866,977; Apr., 830,488; M a y , 825,510; J u n e , 784,250; July, 734,657; Aug., 724,661; Sept 755,261- Oct 815 780N o v . , 788,962; D e c , 846,262; 1938, J a n . , 797,296. ' ' ' ^Revised series. D a t a revised for 1937; see tables 19 a n d 20, p p . 14 a n d 15 of this issue. I D a t a for April, J u n e , October, a n d December 1938, are for 5 weeks; other m o n t h s , 4 weeks. 38 SURVEY OF CURRENT BUSINESS Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary April 1939 1938 February March April May June July 1939 DecemAugust SeptemOctober November ber ber January TRANSPORTATION AND COMMUNICATIONS—Continued TRANSPORTATION—Continued Class I Steam Railways—Continued Financial operations: Operating revenues, total thous. of dol. 276, 904 251,037 283,075 268, 269 272,665 Freight .__ do._. 224, 819 198, 375 227,084 211,438 217,875 30, 237 ' 31, 254 31,038 31,845 30,869 Passenger do... 354 229,065 219,543 217,113 220, 619 215, Operating expenses do d 18, 591 ' l, 909 d 14, 470 9,237 16, 497 Net railway operating income do_._ * 44, 567 28,212 d 33,483 * 25,503 Net income do... Operating results: 23,182 26,030 22, 789 23,706 Freight carried 1 mile mil. of tons. .961 1.020 .940 1.012 Revenue per ton-mile cents. 1,649 1,712 1,648 1,683 Passengers carried 1 mile millionsWaterway Traffic Canals: 243 252 334 303 Cape Cod thous. of short tons_ 0 0 0 341 466 New York State. do... 2,269 2,279 2,207 1,999 2,309 Panama, total thous. of long tons. 814 689 629 747 804 In U. S. vessels . do... 0 0 0 0 1,512 St. Lawrence thous. of short tons. 0 0 971 0 3,365 Sault Ste. Marie . do__. 2, 225 2,707 2,437 2,355 Suez thous. of metric tons. 0 0 0 0 1,740 Welland thous. of short tons. Rivers: 151 110 135 110 156 Allegheny do... 185 186 155 217 ,125 Mississippi (Government barges only).do 1,184 1,226 1,083 1,040 1,557 Monongahela -. do 735 788 679 Ohio (Pittsburgh district) do... Clearances, vessels in foreign trade: 5,004 4,734 5,620 5,911 6,218 Total ..thous. of net tons. 4,095 4,409 3,648 3,607 4,526 Foreign do 1,502 1,525 1,692 1,358 1,127 United States.._ do... Travel Operations on scheduled airlines: Passenger-miles flown thous. of rniles.. Passengers carried. number.. Express pounds_. Miles flown „_-thous. of miles.. Hotels: Average sale per occupied room dollars.. Rooms occupied percent of total.. Restaurant sales index 1929 = 100_. Foreign travel: Arrivals, U. S. citizens number., Departures, U. S. citizens.... do Emigrants do Immigrants do Passports issued „ do National Paries: Visitors . do Automobiles do Pullman Co.:* Revenue passenger-miles thousands.. Passenger revenues.._..,. thous. of doL. 3.28 63 86 4,865; 282,140 299,641 315, 387 322, 595 353, 441 319,682 318, 336 222, 718 238,146 253, 592 261,303 293,762 264,135 251, 320 36, 330 34, 427 31,459 34,988 38,036 30, 211 37, 913 218,192 222, 224 229,632 232, 040 242, 409 231,257 232, 704 25,001 38, 387 45, 377 50, 362 49, 665 49, 373 ' 15,954 ' 3,955 1,097 6,277 24,068 7,422 22, 225 23,886 1.020 1,889 26, 312 .998 2,118 25, 236 1. 003 1,976 29,110 .977 1,825 32, 757 .977 1,662 28,471 1.004 1,564 28,133 .981 1,928 285 671 2,122 709 1,184 5,364 2,213 1,461 270 524 2,026 810 1,178 5,552 2,508 1,529 263 697 2,172 810 1,215 6,237 2,482 1,588 278 480 1,998 779 1,296 6,624 2,248 1,786 328 684 2,360 888 1,429 7,141 2,460 2,030 327 845 2,224 789 1,065 4,466 2,270 1,651 348 0 2, 374 807 5 323 2.422 182 208 195 1,027 704 246 226 1,141 755 263 256 1,279 886 223 224 1,422 967 249 190 1,595 1,055 244 215 1,710 991 180 171 1,798 1,074 6,445 4,812 1,634 6,731 4,901 1,830 6,958 5,208 1,749 6,516 4,816 1,700 5,769 4,103 1,666 5,678 4,037 1,641 5, 0fi2 3,813 1, 249 56, 828 46,090 143,993 113,621 855,151 685,389 6,302 5,776 41, 594 99,119 761,090 5, COS 56, 405 54, 806 47, 515 50,859 115, 255 127, 590 143, 488 139, 297 558, 710 541, 348 623, 770 877, 564 6, 360 6,137 6,271 6,151 34, 388 43, 549 73, 563 94,112 421, 326 558,113 5,549 4,561 44,413 104, 661 497, 225 5,622 48,813 119,293 499,980 6,278 3.35 66 91 3.21 64 82 3.30 63 3.14 61 3.18 60 93 3.19 55 82 3.29 57 3.28 61 85 3.32 65 89 3.47 60 94 3. 26 54 88 28,156 28, 985 1,280 4,332 5,959 30, 778 25,896 1,670 4,845 11,168 27,032 21,277 1,427 5. 439 17,002 20, 754 23, 381 2,177 6,057 24,979 22,943 31,792 2, 405 5,748 25, 752 32, 414 55, 528 2,616 6,385 13,094 58,906 51, 646 2,286 7,357 9,059 58,027 31, 848 2,227 8,228 5,138 31,710 19,931 2,081 8,825 5,122 15,649 16,103 2,157 6,844 5,589 16,614 18,705 2, 663 8,042 5, 181 74, 785 20, 710 82, 298 24,445 163,564 250,568 462,038 47, 334 72, 475 132, 460 857, 931 238,139 811, 209 428, 827 226,102 125,436 236,771 71, 416 77,750 23,783 57, 677 16, 798 683,322 4,405 702,894 4,485 664,745 4,137 604, 886 3,779 720,803 4,418 739, 390 683, 593 715, 529 651, 851 585, 289 4, 409 4,555 4,407 3,912 4,239 687, 369 4, 488 92, 297 62,132 21, 589 63, 906 15, 634 17,262 97,138 63, 961 24, 649 66,614 17,557 17, 302 95,912 63, 694 23,849 65, 379 17, 651 17, 336 96, 289 63, 741 24,132 66, 323 17, 426 17, 366 96, 305 63, 296 24,577 65, 696 17, 752 17,344 94,954 61, 587 24,800 65, 505 16, 458 17, 335 96, 482 62, 029 25,984 66. 289 17, 261 17, 373 96, 725 62, 850 25, 428 67, 030 16, 791 17, 465 99, 608 65, 105 25, 929 67, 634 18,637 17, 528 98,531 64,897 24,959 67,434 18,946 17,593 101, 552 06, 188 26,591 f,9, 444 18,835 17, 704 9,928 8,384 11, 536 9,770 10,905 9,345 10,889 9,346 11,185 9,597 10,618 9, 049 11,092 9,524 11, 550 9,851 11,156 9,491 10, 751 9,114 12,408 10, 553 447 765 779 9,335 * 102 '965 539 855 911 9,984 813 459 749 810 9,970 210 '561 485 793 749 10,077 84 4 755 499 803 785 9,909 550 '186 529 809 760 9,861 39 d 764 485 791 777 9,935 481 d 408 586 9,899 953 199 569 861 804 9,903 558 d 3 of) 7,648 7,846 1,416 9,124 9,181 1,466 11.188 11,101 1,364 10,309 10,195 1,233 10,433 5, 500 1,285 COMMUNICATIONS Telephones: Operating revenues thous. of doL_ Station revenues do Tolls, message.... do Operating expenses . do.... N e t operating income do.... Phones in service end of m o n t h . - thousands. _ Telegraph, cable, and radio-telegraph carriers: Operating revenue, total thous. of d o L . Telegraph carriers, total do Western Union Telegraph Co., revenues from cable operations thous. of d o l . . Cable carriers do.__ Radiotelegraph carriers. do Operating expenses do Operating income do N e t income do COO 830 807 9,991 69 «* 774 570 976 879 10, 756 1,041 291 CHEMICALS AND ALLIED PRODUCTS CHEMICALS Alcohol, denatured: Consumption thous. of wine gal._ Production do Stocks, end of month do Alcohol, ethyl: Production -_..thous. of proof gal.. Stocks, warehoused, end of month do. Withdrawn for denaturing do Withdrawn, tax paid .do Methanol: Exports, refined § gallons. _ Price, refined, wholesale (N. Y . ) . dol. per gal__ Production: Crude (wood distilled) thous. of gal.. Synthetic. do..__ r 6, 567 6,454 1, 260 4,996 5,088 1,179 6,168 6,207 1,213 6,364 6,287 1,127 6,072 6,092 1,137 7,812 7,869 1,192 14, 671 26, 072 11,198 1,350 16, 765 r 27, 585 8,874 1,503 18, 329 32,879 10,140 2,202 12,817 33, 076 10, 481 2,135 14, 253 33, 867 10,615 2,340 16, 395 32,047 14, 400 3,506 16, 33, 12, 1, 370 727 350 684 17, 284 35,176 14, 483 1, 590 15, 800 32, 736 16,072 1,639 17,017 28,319 18,986 2,111 15,164 23,277 17, 249 2,439 16, 772 20, 895 17, 389 1,841 26, 359 .36 5,117 .36 21,753 .36 15,889 .36 24,198 .36 10, 525 .36 10,609 .36 7,743 .36 22, 716 .36 [8,431 .36 12,648 .36 25,990 .36 336 2,267 409 2,291 433 2,344 315 1,976 331 1,860 293 1,630 309 1,450 282 1,898 303 1,930 335 12, 295 344 2,618 357 2,844 6,725 6,711 1,170 Revised. 'Deficit. *> Preliminary •New Series. Data for Pullman Co. revenue passenger miles beginning 1915 and passenger revenues beginning 1913 are given in table 7, p . 18, of the January 1939 issue §Revised series. Data revised for 1937; see table 19, p. 14, of this issue. 39 SURVEY OF CURRENT BUSINESS April 1939 Monthly statistics through December 1937, together with explanatory notes and references to the sources of the data may be found in the 1938 Supplement to the Survey February 1939 1938 1939 February March April May June July August Septem- October Novem- December ber January CHEMICALS AND ALLIED PRODUCTS—Continued CHEMICALS-Contlnued Explosives, shipments _thous. of lb_. 26, 592 Sulphur production (quarterly): Louisiana long tons__ Texas do Sulphuric acid (fertilizer manufactures): Consumed in production of fertilizer short tons.. 138,273 Price, wholesale, 66°, at works 16.50 dol. per short ton._ Production. short tons.. 169,769 Purchases: 18, 751 From fertilizer manufacturers do 23, 778 From others ...do Shipments: 39,167 To fertilizer manufacturers do 35, 545 To others _ do 24,607 23,425 22,961 24,904 25,445 23,136 27,663 80, 545 522,108 106,440 503,028 30, 443 32,151 29, 385 28,415 29, 258 68,900 478, 774 72,520 472,988 125,294 129,233 110,498 119,218 102, 228 92,189 128,312 126,974 151,083 147, 592 148, 289 142, 451 16.50 159,659 16.50 154,379 16.50 143,469 16.50 137, 764 16. 50 114,199 16.50 109,969 16.50 131,106 16.50 133,266 16.50 161,285 16.50 171,106 16.50 176,923 16.50 181,386 20,983 15.569 19,474 29,989 14,261 15, 564 15,733 20, 778 15,937 21,977 18,498 24,249 30,388 25,097 38, 531 18, 560 40,284 21, 564 31,182 18,494 20,604 27, 515 20, 418 22, 343 32,152 38.570 38,128 33,019 28,405 34,218 24,337 37,004 19,400 34,323 22,312 33,112 27,422 33,462 26,032 34,973 28,971 40,904 37,752 38,447 33, 080 40,915 38, 085 40, 850 1,039 158, 717 8.981 137,625 452 162,357 143,309 96, 688 2,902 6,561 276 127,496 26, 744 103,930 1,407 128,498 101,416 73,025 2,547 1,669 116 99,717 3,848 92, 764 213 88,938 75,311 55,063 1,234 6,403 137 116,828 24,047 87,824 60, 235 36,833 8,969 738 19,414 44 146, 636 27, 504 108, 665 169 79, 652 48,977 24,450 1,827 27,908 131,407 75, 849 20,829 8.276 42, 407 121 134,929 20, 271 93,058 261 158,140 82, 576 32,971 9,337 64,124 146 147. 587 20, 207 123,339 413 116,298 50, 231 4,851 6,046 58, 730 217 133, 295 25,119 101,186 72 149, 7P8 78,124 32, 336 3,421 66,897 436 85, 542 11,317 71, 045 83 141,898 118,159 63, 854 903 20,186 1.450 1.450 1.450 1.450 1.450 1.450 1.450 1,450 1.450 FERTILIZERS Consumption, Southern States 692 627 1, 520 thous, of short tons__ Exports, total§. _ long tons_. 85,095 109,336 172,296 15, 645 19, 739 4,917 Nitrogenous§_ do 66,552 95,012 144,287 Phosphate materials§.._ do 340 144 228 Prepared fertilizers§ __._ do 109, 932 145,233 191,449 Imports, total§__ do Nitrogenous, total§ _.do.__. 101, 396 117,664 159,462 54, 552 91,426 61,388 Nitrate of soda§ _. do 969 3,986 4,263 Phosphates§ __do 22,322 20,120 6,795 Potash§ do Price, wholesale, nitrate of soda, 95 percent 1.450 1.450 1.450 (N. Y.)— --dol. per cwt.J Superphosphate (bulk): 314, 727 322,335 Production _ short tons.. 68, 224 192,888 Shipments to consumers.. do 1,331,912 1,139,794 Stocks, end of month do 1.450 278,520 239,942 915,979 112,944 3,378 103,228 497 369 283.189 235,986 219,936 283,015 279, 381 314,359 326, 794 343, 204 322,211 6,592 21, 340 108, 470 46,980 17,147 29, 340 117,258 23,393 17,717 949,442 1,054,545 1,058,452 1,057,215 1,160,299 1,249,272 1,322,306 1,361,127 1,298,883 NAVAL STORES Pine oil, production... gallons._ Rosin, gum: Price, wholesale " H " (Savannah) 5.21 dol. per bbl. (280 lbs.).. Receipts, net, 3 ports ._—bbl. (500 lbs.)_- 13, 757 642, 825 Stocks, 3 ports, end of month. _ do Rosin, wood: 0) Production do Stocks, end of month .....do (0 Turpentine, gum, spirits of: .32 Price, wholesale (Savannah) _._ dol. per gal_. 1,908 Receipts, net, 3 ports. _.bbl. (50 gal.)-118,954 Stocks, 3 ports, end of month.._ _.do Turpentine, wood: Production do ( Stocks, end of month. _ do 0) 275, 719 (0 4.34 115,113 243,463 4.44 123,026 323,280 4.61 121,396 402,121 4.48 121,505 475,130 4.14 119, 818 542,161 5.12 87,935 588,870 4.89 97, 664 660, 252 4.34 48, 095 678, 731 50,597 183,823 44,468 184,735 40,866 174, 575 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) .26 8,034 56,349 .23 20,156 64,409 .23 27,485 75,607 .23 29,824 87,077 .23 28,877 104,147 .23 29, 480 116,859 .21 31, 745 130, 897 .22 17, 670 128, 334 .29 18, 364 134, 460 .28 10, 593 133,921 .31 2, 390 123, 584 7,586 16,752 8,007 15,947 6,944 12,889 6,594 9,620 0) 0) 0) (0 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 273, 455 321,217 356, 217 5.38 20,793 148,111 4.77 44,394 139,444 4.73 82,395 178,362 48,161 194,809 50,102 185,347 .26 2,557 58, 705 7,141 20,150 0) 0) 4.90 20, 473 657, 839 O I L S , F A T S , AND B Y P R O D U C T S A n i m a l F a t s a n d B y p r o d u c t s a n d Fish Oils (Quarterly) Animal fats: Consumption, factory .thous. of lb... Production.. do Stocks, end of quarter do Greases: Consumption, factory do Production .do Stocks, end of quarter do Shortenings and compounds: Production _do Stocks, end of quarter do Fish oils: Consumption, factory do Production __do Stocks, end of quarter do 186,401 454, 766 361,006 204,950 419,460 374,375 238, 802 395, 795 296,157 222,460 505,816 312, 725 41, 732 80,484 68, 780 47, 745 80,158 62, 557 48, 656 79, 787 56, 400 44,480 87, 253 61, 276 433,473 50,760 322,437 44,697 411,949 45, 270 370, 759 55, 662 50,497 39,447 185, 277 46,179 3,346 159,386 51, 950 97, 753 206,906 71,664 102,193 256, 352 Vegetable Oils a n d Products Vegetable oils, total: Consumption, crude, factory (quarterly) mil.oflb.. Exports... _ ..thous. of lb_. Imports, total.§_ do Paint oils§ . _do All other vegetable oils§ do Production (quarterly) mil. of lb__ Stocks, end of quarter: Crude—. do Refined do Oopra: Consumption, factory (quarterly) short tons.Imports do Stocks, end of quarter do 4,136 85,466 8.169 77,298 1,761 70, 219 8,726 61,493 1,097 3,411 101,782 83,244 963 4,320 88,335 13,189 75,145 4,619 71,138 64,308 949 645 17, 491 27,248 59,436 12,843 41, 601 2,359 89,048 14, 779 74,268 1,824 84, 636 11, 850 72, 786 738 662 20,825 27,908 * Discontinued by the reporting source. §Revised series. Data for 1937 revised; see tables 19 and 20, pp. 14 and 15 of this issue. 827 3,984 98,419 9,589 88,830 527 55, 541 14,642 64,018 694 3,027 80, 424 11, 303 69,121 580 3,798 90,189 9,372 80,817 2, 204 94,982 15,414 79,568 17,927 54,083 20,092 44,953 2,815 91, 692 11,414 80, 278 870 668 714 494 24,305 997 2,656 92, 613 10, 525 82,089 977 23,105 15, 437 58,414 26, 745 36, 525 20, 967 40 SURVEY OF CURRENT BUSINESS Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary April 1939 1938 February March April May June 1939 July August September DecemOctober November ber January CHEMICALS AND ALLIED PRODUCTS—Continued OILS, FATS, AND BYPRODUCTS—Con. Vegetable Oils and Products—Continued Coconut or copra oil: Consumption, factory: In oleomargarine Imports§ Production (quarterly): Crude __ Stocks, end of quarter: Crndp do __ _ . do 29,122 6,431 26, 448 122,113 63,433 9,555 32, 796 8,981 28, 612 7,759 23,821 150,793 72,943 7,433 32,139 6,331 31,186 7,282 22,052 154 327 77, 365 8,711 32, 579 8,420 26, 824 7,023 39, 792 150,922 78, 573 7,204 34, 725 do 74, 656 70, 288 70, 477 79, 790 68, 033 82 506 73,685 8 9 743 (Jo 197,130 12,392 194,145 13,493 184, 342 13,001 202, 301 13,332 Cottonseed: Consumption (crush)-., thous. of short tons.Receipts at mills do Stocks at mills, end of mo do Cottonseed cake and meal: Exports short tons Production - do Stocks at mills, end of mo do Cottonseed oil, crude: Production thous. of lb— Stocks end of month do Cottonseed oil, refined: 7,244 23,101 367 95 782 635 361 1,161 543 226 844 336 87 595 206 83 472 155 78 394 127 70 337 223 262 371 576 1,274 1,069 665 1,155 1,559 630 631 1,560 1, 353 4.51 152 1,054 189 169,766 245, 221 10, 707 283,087 251, 789 2,492 243,104 275, 381 766 151.248 284, 820 815 97, 927 280,848 7, 520 74,185 259,002 4,422 56, 630 214, 611 1,727 99,884 216,879 3,745 256,390 259, 659 2,200 294, 408 295, 380 1,235 284,458 313, 538 4, 468 237,933 313,348 407 205,494 289, 286 116,438 180,666 197, 775 203, 901 175,142 166,624 109,455 133,293 70, 252 87, 882 52,345 46, 481 41,843 33,834 67,603 46, 382 178. 632 111,708 203, 746 151,570 195,809 168,457 163,635 17,5, 377 145,077 178,203 In oleomargarine do Price, summer, yellow, prime (N. Y.) .067 dol. per lb__ 110,492 Production thous. of lb Stocks, end of month _ do _ 633, 329 Flaxseed: 2,248 Imports§ thous. of bu_ Minneapolis: 38 Receipts - do __ 30 Shipments do 452 Stocks do Duluth: 1 Receipts do 0 Shipments — do __ 111 Stocks do Oil mills (quarterly): lfi, 792 455,021 16, 327 11, 422 9,958 351, 969 9,502 8,181 9,086 350 990 10, 246 10, 381 10, 807 301, 398 10,577 9,884 .079 188. 978 514, 703 .082 193.361 563, 577 .082 130,536 602, 212 .081 107,008 599,176 .080 79, 740 566,450 .086 53, 829 487, 928 .081 63,996 409,781 .078 92,352 397, 382 .076 161,768 446, 739 .074 162,361 503,890 . 074 143, 8J23 563, 794 .071 138,022 f-09,950 1,799 1,463 1,024 876 763 927 1,288 1,346 1,381 1,565 1,474 2.111 1,286 76 1,499 450 87 1.416 205 152 732 136 80 637 107 47 524 Price, wholesale, No. 1 (Mpls.)._dol. per bu__ Linseed cake and meal: Exports§ thous. oflb— Shipments from Minneapolis do Linseed oil: Consumption, factory (quarterly) thous. of lb— Price, wholesale (N. Y.) dol. per lb_. Production fnnnrterlv) thous oflb Shipments from Minneapolis do Stocks at factory, end of quarter._ — do Oleomargarine: Consumption (tax-paid withdrawals) thous. of lb-_ Price, wholesale, standard, uncolored (Chicago) dol. per lb Production - . thous. of lb._ Vegetable shortenings: Price, wholesale, tierces (Chicago) dol. per lb_- 183 46 530 225 11 536 70 27 468 1,961 221 795 0 20 1 11 10 74 73 10 14 0 24 357 128 253 833 416 670 241 324 586 152 620 152 1 8 112 6,461 2,142 2.06 1.99 1.86 3,989 1,472 1.81 1.83 1.73 5 043 3,019 1.79 1.84 1.84 7,200 2,389 1.90 /8,171 43,104 3,820 33,004 4,784 23, 518 4,482 24, 322 5,380 27, 216 6,032 28,692 6,776 41,577 11,679 44, 746 11,670 47, 302 7,913 51,820 9,760 .087 .083 6~867" 4,771 118 41 729 64 66 678 5 8 18 2 0 20 1.92 2.14 50,180 5,720 54,459 5,355 .085 .100 3, 900 3,642 77 64 631 (0 81,892 63 875 .092 .095 .087 .098 .086 77,513 125, 587 7,261 ~~~6~589" 4,973 ~"~7,~ 602" "~"7,~193" 145 909 223 109 .084 5,436 80 736 .084 98,407 8, 263 113 012 72,419 .085 139,106 3,209 141 785 0) 2 110 1.99 50,734 8,320 .085 3,960 36, 297 39, 686 33,139 28, 774 27, 890 25, 671 28,371 32, 000 31, 824 29,812 29, 991 30,350 .140 145 36, 208 .145 40, 974 .145 32, 662 .138 28, 516 .134 28,146 .145 25, 512 .158 28, 718 .155 32, 38? . 153 31,092 .150 30, 221 .143 30, 373 .140 30,319 .091 .114 105 .104 102 .103 .106 .108 .103 .100 .098 .096 .093 33 33 46 44 45 43 43 44 42 47 34 30 32 184 236 286 166 203 243 148 225 213 159 244 242 162 219 282 156 253 245 115 190 226 113 1G9 222 211 126 235 PAINT SALES Plastic paints, cold water paints, and calcimines: Plastic paints _ thous. of dol Cold water paints: In dry form do Tn paste form do Calcimines do Paints, varnish, lacquer, and fillers: Total _--do -. Clissiflpd total do Trade Unclassified - do do m 144 219 251 138 193 243 223 273 312 188 294 305 24,415 17,395 7, 982 9,413 7,021 21, 657 15, 326 6,085 9,241 6,331 29, 449 20, 721 7,938 12, 783 8,728 33, 286 23,143 7,946 15,197 10,143 35, 294 24,115 7, 823 16, 492 11,179 32, 390 22, 386 7,418 14, 968 10, 003 26, 730 18, 512 6, 603 11,909 8,218 28,821 19, 747 7,249 12,499 9,074 29, 769 20,114 7,879 12,235 9, 655 28, 773 20, 486 8,481 12,006 8,287 25, 280 18,367 8,397 9,970 6, 914 20, .515 15,036 7,417 7,619 5, 478 24, 229 17, 828 8,180 9, 648 6, 401 1.049 977 675 716 754 944 691 778 668 755 612 722 634 731 977 1,017 974 1,030 1,051 1,124 1.018 1,008 7S9 937 923 956 989 1,014 338 289 168 203 249 259 258 253 288 323 658 602 546 530 592 616 945 1,048 1,332 1,251 1,112 1, 032 896 856 1,410 374 391 645 2, 288 . 491 562 1,235 4, 526 1,014 1,142 2,370 2,968 679 1,009 1,280 2,192 604 859 730 2,436 682 862 892 2,404 699 811 894 3,212 900 1,075 1,237 4,012 1,130 1,265 1,617 4,095 1,062 1,401 1,632 2,583 630 836 1,117 2, 07G 515 527 1,035 1,439 359 358 721 CELLULOSE PLASTIC PRODUCTS Nitro-cellulose, sheets, rods, and tubes: Production thous. oflb Shipmentscf - do Cellulose-acetate, sheets, rods, and tubes: Production thous. of lb_ Shipmentsc? - do. _ ROOFING Prepared roofing, shipments: Total thous. of squares Grit roll do Shingles (all tvpes) do Smooth roll do 1 Less than 500 bushels. f Dec. 1 estimate. cf Includes consumption in reporting company plants; data for this item beginning 1935 are shown separately in table 15, p. 18, of the March 1939 issue. §Revised series. Data for 1937 revised; see tables 19 and 20, pp. 14 and 15 of this issue. 41 SURVEY OF CURRENT BUSINESS April 1939 Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary 1939 1938 February March April May June July DecemOctober NovemAugust September ber ber January ELECTRIC POWER AND GAS ELECTRIC POWER Production, total mil. of kw.-hr.. By source: Fuel.._ do.... Water power... _ do By type of producer: Privately and municipally owned do Other producersdo Sales to ultimate consumers, total (Edison Electric Institute) .mil. of kw.-hr_. Residential or domestic .do Commercial and industrial __.do Public street and highway ltg do Other public authorities—. do Sales to railroads and railways do All other sales do Revenues from sales to ultimate consumers (Edison Electric Institute) thous. of dol.- 9,655 8,709 9,468 8,924 9,082 9,197 9,523 10,180 9,838 10,210 10, 244 5,830 3.825 5,179 3,530 5,534 3,934 4,907 4,017 5,252 3,830 5,519 3,678 5,878 3,645 6,397 3,783 6,376 3,462 6,868 3,342 6, 760 3,484 10, 882 "10,641 6,976 3,906 8,900 755 8,156 553 8,929 539 8,404 520 8,571 511 9,314 524 9,669 541 9,690 554 7,469 1,590 5,006 166 180 483 44 7,355 1,571 4,981 148 164 445 45 7,231 1,465 4,972 136 189 428 41 9,019 504 7,562 1,502 5,296 130 189 410 36 9,650 531 7,432 1,667 4,905 175 176 464 46 8,710 487 7,437 1,481 5,185 125 193 414 39 8,093 1,527 5,773 144 199 413 36 8,190 1,611 5,786 156 194 407 37 8,335 1,638 5,835 178 196 449 38 8,475 1,723 5,849 197 194 479 34 10,332 550 8,779 1,843 5,940 206 205 547 38 181,207 176,919 176,418 170,983 174,271 176,099 182,380 185,948 188,019 192,178 198, 991 9,919 9,254 194 462 32, 085 16,476 6,976 8,423 9,875 9,211 183 489 32, 368 17,052 6,113 8,992 9,880 9,208 190 471 31,189 16, 595 4,529 9,884 9,970 9,299 194 467 29, 682 16,587 3,353 9,564 9,922 9,261 186 464 28,264 17,224 1,707 9,179 9,930 9,277 177 465 25,650 15,999 856 8,613 9,943 9,288 181 464 24, 356 14, 663 684 8,872 10,029 9,362 197 462 26,864 16, 502 900 9,299 10,019 9,342 213 454 29,809 17,754 2,152 9,696 10, 008 9,318 222 460 31, 095 16,114 4,861 9,908 10,030 9,331 228 461 35, 344 16, 342 8,328 10, 421 31,485 20, 599 4,674 6,081 31,920 21, 391 4,168 6,201 30, 786 21.633 2,887 6,126 30,409 22,418 1,935 5,926 29,820 22,688 1,284 5,744 27, 732 21,500 699 5,431 26,120 20, 011 590 5,409 28, 614 21,930 820 5,757 30,834 23,024 1,660 6,022 31,133 21. 946 2, 795 6,259 33, 590 22,073 4,772 6,597 6,979 6,447 531 122,302 45,967 74,832 7,002 6,463 537 115,334 41,414 72,420 6,978 6,447 529 105,608 34, 324 70, 516 6,981 6,462 516 91,721 25,693 64,514 6,942 6,451 489 82,497 19,648 61,702 6,926 6,443 481 79, 488 16, 270 62,019 6,955 6,469 484 80, 697 14, 510 64, 829 7,002 6,514 486 85, 624 15, 671 68, 554 7,064 7,202 7,176 6,554 6,621 6,638 507 553 561 94,403 109,128 128,012 19, 683 29, 457 43, 333 73,348 78, 903 83,170 46, 320 29,658 16,406 42, 689 27,000 15, 420 38,006 23, 243 14.634 31,874 18,577 13, 057 27,069 15,131 11,766 24, 986 12,878 11,910 24,003 11,875 11,922 25,144 12, 269 12, 675 28,929 14,849 13,883 36, 086 20, 250 15, 691 45, 448 27,726 17,483 5,748 5,337 8,540 4,428 4,313 8,242 4,134 3,595 7,570 3,774 3,731 7,367 3,669 3,537 7,081 5,672 5,732 7,491 4,313 4,226 5,837 5,692 6,095 9,294 3,915 4,217 4,997 496, 903 496, 012 495,163 470,401 469,451 468,480 10,203 8,173 18,923 8,119 495,003 466,376 '6,899 r 3, 742 r 9, 853 ••788 GAS Manufactured gas: Customers, total thousands.. Domestic do . House heating... do Industrial and commercial do Sales to consumers ...mil. of cu. ft_. Domestic do._ House heating do.. Industrial and commercial do_. Revenue from sales to consumers thous. of dol Domestic _ do. House heating do. Industrial and commercial .do. Natural gas Customers, total thousands.. Domestic _ _do__ Industrial and commercial do_. Sales to consumers mil. of cu. ft Domestic _ ___do_. Industrial and commercial do__ Revenues from sales to consumers thous. of dol Domestic. do.. Industrial and commercial do._ FOODSTUFFS AND TOBACCO BEVERAGES Fermented malt liquors: Consumption (tax-paid withdrawals) thous. of bbl. Production __.do.._ Stocks, end of month do... Distilled spirits: Consumption, total (tax-paid withdrawals) thous. of tax gal. Whiskey do Production, total .do Whiskey _do___ Stocks, total, end of month do. _ Whiskey _ do.__. Rectified spirits, and wines, production thous. of proof gal.. DAIRY PRODUCTS 3,247 3,673 7,759 4,015 5,022 8,559 4,164 4,968 9,161 5,367 7,255 4,382 5,648 12,991 12,283 10, 254 9,886 489,436 492,840 464, 525 467,423 10,116 8,244 495,992 470,446 2,423 3,545 6,386 2,959 4,561 5,199 9,590 5,204 5,511 9,661 6,443 6,592 5.111 5,175 9,658 6,857 7, 653 4,721 498, 067 497,528 472,162 471,160 3,122 3,311 6,387 5,135 9,189 2,983 2,772 3,504 4,480 3,103 3,642 7,467 9,724 6,246 11,745 9,571 7, 693 5,008 22,147 16,956 11,829 10, 562 10, 780 9,193 501, 207 505, 670 510,194 466,176 466, 809 470,251 5,362 4,774 2,973 Butter: Consumption, apparent _. .thcus. of lb_. 139,535 '122,714 135,551 142,846 165,893 139, 741 132, 413 138,602 140, 216 152,408 150,192 153,152 145,603 Price, wholesale 92-score (N. Y.) dol. per lb_. .28 .31 .30 .26 .26 .26 .26 .26 .28 .26 Production, creamery (factory) t-thous. of lb_. 121,065 112,399 128,816 147, 960 200,985 205, 599 184,778 167, 215 149,914 136,132 116,042 121,790 128,303 Receipts, 5 marketst-do... 53,955 55,887 48,343 60, 869 78,992 90, 433 77, 740 89, 250 78,843 64,457 49, 862 52, 352 55, 705 Stocks, cold storage, creamery, end of month thous. of 1b. 92,800 21, 033 14, 387 19,574 54, 594 120,351 172, 622 201,252 210, 703 194,285 159, 254 111,354 Cheese: Consumption, apparent do__. 53,154 57,101 65, 351 67, 870 75, 756 72, 251 64,174 57,838 68,200 69,203 52, 088 50, 428 56, 702 Imports do 4,425 3,666 4,376 4,233 4,309 4,042 3,881 4,445 5,925 4,083 4,001 5,264 7,018 Price, wholesale, No. 1 Amer. (N. Y.) dol. per 1b. .14 .17 .16 .15 .15 .15 .14 .15 .15 . 13 .14 .15 .14 Production, total (factory) t thous. of lb_. 37,692 41,750 52, 500 62,000 86, 500 91, 700 80,000 69,800 54. 400 53,877 41, 407 38, 728 39,168 American whole milk do 27,175 r 29,814 37,842 48,458 70, 240 71, 247 63,065 55,830 42, 791 41,267 30, 251 27,899 28,171 Receipts, 5 markets.. .do 11,492 12, 223 15. 572 11,918 12,465 16, 461 16,880 15, 764 10, 537 10,998 14,718 16,345 10, 753 Stocks, cold storage, end of month do 91, 625 85,656 76,289 91,160 114,788 134, 351 150,248 140, 755 132, 326 127,440 120,174 106,411 77,042 American whole milk do 77, 274 73,815 66, 361 65, 767 79,345 99,676 114,607 127,862 121, 423 115,351 109, 738 102, 563 r 90,401 f Revised. t Revised series. Total production of cheese has been revised beginning 1920 to exclude cottage, pot and baker s cheese; revisions not shown on p. 41 of the December 1938 Survey will appear in a subsequent Issue. JFor comparable monthly figures beginning 1919, see table 14, p. 17, of the March 1939 issue. 42 SURVEY OF CURRENT BUSINESS Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary April 1939 1939 1938 February March April May June July DecemOctober NovemAugust September ber ber FOODSTUFFS AND TOBACCO—Continued DAIRY PRODUCTS—Continued Condensed and evaporated milk: Exports: 91 Condensed (sweetened) thous. of lb>_ 2,007 Evaporated (unsweetened) do Prices, wholesale (N. Y): 5.00 Condensed (sweetened) dol. per case.. 2.90 Evaporated (unsweetened) do Production: Condensed (sweetened): Bulk goods .thous. of lb__ 11, 505 3,036 Case goods ..do 137,882 Evaporated (unsweetened) do Stocks, manufacturers' end of month: Condensed (sweetened): 7,075 Bulk goods _ thous. of lb__ 4,985 Case goods do Evaporated (unsweetened), case goods thous. of lb— 120,397 Fluid milk: Consumption in oleomargarine do Production (Minneapolis and St. Paul) thous. of lb.. Receipts: Boston (incl. cream) __thous. of qt_. 112,501 Oreater New York (milk only) do Powdered milk: 519 Exports§ thous. of Jb._ 22, 580 Production | do 32,172 Stocks, mfrs., end of mo.t do FRUITS AND VEGETABLES Apples: Production (crop estimate) thous. of bu__ Shipments, carlot no. of carloads. Stocks, cold storage, end of month thous. of bbl_. Citrus fruits, carlot shipments_.no. of carloads. Onions, carlot shipments.. ...do Potatoes, white: Price, wholesale (N. Y.)_ dol. per 100 lb_. Production (crop estimate) thous. of bu_. Shipments, carlot no. of carloads.. 312 1,209 932 2,154 1,366 1,414 572 1,983 220 1.862 1,922 279 2,380 356 2,335 259 2,034 355 2,198 5.00 3.25 5.00 3.21 5.00 3.00 5.00 3.00 5.00 3.00 5.00 3.00 5.00 2.90 5.00 2.90 5.00 2.90 5.00 2.90 5.00 2.90 11,463 3,358 130,077 17, 916 4,212 169, 247 19, 769 4,974 206,214 30,147 4,753 279,741 23, 662 3,197 276, 652 17,129 3,289 224,681 14, 752 3,238 188, 507 14,178 3,210 146,679 14, 684 3,050 122, 885 11,296 3,529 100, 723 11,922 3,210 119,614 4,037 5,319 4,827 7,118 5,601 15, 907 9,052 19, 538 9,434 21, 850 10, 249 20,119 9,932 17, 777 9,278 15, 248 8,521 11,701 4,574 9,235 7,139 132,663 123,801 151, 669 261, 703 350, 790 392, 641 419,142 398, 287 344, 316 6,063 5,509 5,292 4,787 5,483 6,216 6,247 42,062 45, 610 40,746 34,641 29, 659 25,320 26, 377 472 6,949 7,605 284,375 5,838 205, 073 5,830 32,002 36, 412 14, 566 109, 203 42,771 16, 483 121, 241 15, 796 115,020 16, 090 119,365 15,988 121,643 16,579 120,412 17,727 128,952 12, 291 115,943 14, 936 120, 748 26,700 15,327 118,582 14,342 118, 277 1,295 23,933 32,174 788 30,503 35, 509 36,089 41,594 820 43,808 53,520 1,058 41,955 1,396 35, 562 59, 764 1,036 27,350 55,459 786 26,871 52,602 751 25, 095 41,204 673 20,419 37,194 549 21,532 33, 259 4,776 6,180 5,490 3,931 2,059 877 1,120 5,664 12,950 7,359 /131,! 6,667 5,003 18,400 2,139 6,513 17,029 2,062 4,015 19,008 2,052 1,926 19,278 2,797 18,586 3,968 14,223 1,626 11,385 1,158 10, 221 1,371 2,893 9,768 3,211 10, 090 12,780 2,953 10,272 14,391 2,341 8,736 18,770 2,065 .770 1.095 1.519 1.294 1.475 1.494 1.515 1.619 1.144 17,196 20, 245 23,870 21,061 22,940 ~23,~452" 14,503 GRAINS AND GRAIN PRODUCTS Exports, principal grains, including flour and 28,441 24, 752 mea]§_— -thous. of bu_. 15,521 21,331 31,219 43,357 Barley: 724 1,303 Exports, including malt do 791 1,973 1,619 Prices, wholesale, No. 2 (Mpls.): .55 .82 .72 .76 .57 Straight ...dol. per bu_. .68 .55 .84 .61 Malting _ do .80 .78 .77 Production (crop estimate) thous. of bu_3,846 5,814 4,263 Receipts, principal markets do 2,978 "Km Stocks, commercial, domestic, end of mo. thous. of bu_. 12, 253 7,998 5,247 5,771 11, 524 9,819 Corn: 2,721 9,042 13,375 Exports, including meal do 16, 170 20, 698 25,446 4, 628 Grindings do 5,943 5,638 5,510 5,669 5,784 Prices, wholesale: .46 .53 No. 3, yellow (Kansas City)—-dol. per bu_. .55 .54 .55 .57 .51 No. 3, white (Chicago) do .57 .59 .58 .58 .58 Production (crop estimate) mil. of bu__ 28,104 Receipts, principal markets thous. of bu._ 10, 216 17,971 29,948 31,867 23,558 5,398 Shipments, principal markets do 11, 760 12,921 24, 367 27,987 38, 706 Stocks, commercial, domestic, end of mo. 23, 674 thous. of bu_. 49,181 39,000 40, 704 43,227 25,916 Oats: 130 Exports, Including oatmeal do 462 378 480 1,130 2,100 Price, wholesale, No. 3, white (Chicago) .30 .32 .33 .28 dol. per bu__ .31 .29 Production (crop estimate) mil. of bu._ 4, 304 Receipts, principal markets thous. of bu-~ 3,933 5,267 4,730 4,381 3,609 Stocks, commercial, domestic, end of mo. thous. of bu_. 14,958 21,141 23, 822 9,483 6,825 15, 547 Rice: Exports§ pockets (100 lb.).. 302, 302 86, 473 163,858 152,916 278, 979 325,820 41,296 Imports! do 26,987 56,394 64, 407 51,259 60,756 Price, wholesale, head, clean (New Orleans) .033 dol. per l b . . .034 .033 .033 .033 .033 Production (crop estimate) thous. of bu__ Southern States (La., Tex., Ark., and Tenn.): Receipts, rough, at mills thous. of bbl. (1621b ) . . 922 531 1,007 676 770 Shipments from mills, milled rice 1,063 thous. of pockets (100 lb.)_. 902 970 1,190 967 1,008 Stocks, domestic, rough and cleaned (in terms of cleaned rice) end of month 3,586 thous. of pockets (100 lb.).. 1,434 2,299 1,940 1,841 2,188 California: Receipts, domestic rough bags (100 lb.)._ 169,184 385, 282 217,229 57,908 87,859 186, 353 Shipments from mills, milled rice do 118,478 211,597 191,798 94, 592 65,445 65,547 Stocks, rough and cleaned (in terms of cleaned rice), end of mo...bags (100 lb.).__ 205, 052 385, 474 303, 300 265,989 241,164 231, 374 Rye: (a) Exports, including flour. thous. of bu_. 524 502 286 607 395 .45 Price, wholesale, No. 2 (Mpls.).-dol. per bu._ .74 .56 .67 .61 Production (crop estimate) thous. of bu__ 511 Receipts, principal markets ..do 706 787 445 419 Stocks, commercial, domestic, end of mo. 7,724 tbous. of bu__ 4,044 3,413 2,627 1,000 ••Revised. « No quotation. / Dec. 1 estimate. I For comparable monthly figures <* Less than 500 bushels. §Revised series. Data revised for 1937; see tables 19 and 20, pp.14 and 15 of this issue. 7,854 14,279 14,8 12,397 1.456 369,297 12, 253 15,111 11,495 736 649 .931 1.100 30,022 28,323 15,749 12, 545 861 2,744 1,954 1,749 .48 .54 .47 .56 .53 .56 .50 .54 .52 .57 / 252,139 5,846 5,764 .50 .56 2,900 16,817 12, 335 10, 522 7,885 15,096 17, 025 18, 924 16,187 15, 015 15,664 5,289 12, 674 6,079 7,898 6,564 4,119 r 6, 915 6,032 ' 6,547 3,729 ' 6,724 .53 .44 .45 .46 .47 17, 240 9,942 45,157 18,994 32,698 16,356 .54 / 2, 542 20, 262 10, 969 (0 .55 .59 26,573 27, 617 17,419 18, 061 15,004 10, 489 23, 081 46,645 52, 644 616 1,349 256 650 1,405 147 .24 .27 .25 .26 24, 669 10,128 7,707 4,199 .29 / 1,054 5,658 9,703 6,837 20, 597 22, 026 22, 609 17,676 16,919 322, 270 40, 452 309, 896 50, 561 215, 914 46, 483 351, 826 39, 355 223, 534 34,816 298, 935 39, 991 .034 .034 .034 .033 .033 .033 / 52,303 270 485 1,625 3,191 1,458 911 611 839 1,437 1,158 978 1,027 854 1,685 3,568 165,480 119,712 269, 219 135,853 260, 721 118,298 477, 536 161,184 444,297 182,438 212, 534 136,365 190, 500 177,142 179, 446 301, 531 382,460 366,012 116 .48 58 .41 283 .41 307 .41 21 .40 1,147 6,785 3,452 2,199 ( .43 / 55,039 1,248 1,195 6,825 7,761 8,340 8,102 8,369 3,979 beginning 1919, see table 13, p. 17 of the March 1939 issue. January 43 SURVEY OF CURRENT BUSINESS April 1939 February 1939 1938 1939 Monthly statistics through December 1937, together with explanatory notes and references to the sources of the data may be found in the 1938 Supplement to the Survey February April March May June July August September October Novem- December ber January FOODSTUFFS AND TOBACCO—Continued GRAINS AND GRAIN PRODUCTSContlnued Wheat: Exports: Wheat, including flour §. thous. of bu._ 11,946 Wheat only § do 8,782 Prices, wholesale: No. 1, dark, northern spring, Minneapolis dol. per bu_. No. 2, red, winter (St. Louis) -do No. 2, hard, winter (K. C.) do.... Weighted av., 6 markets, all grades..do Production (crop est.), total mil. of bu._ Spring wheat do Winter wheat do 9,512 Receipts, principal markets thous. of bu_. 9,251 Shipments, principal markets ..do Stocks, end of month, world estimated thous. of bu__ 144,817 Canada (Canadian wheat) do 100,119 United States (domestic wheat) do Held by mills (end of quarter) __do Wheat flour: Consumption (computed by Russell's) thous. of bbl. 673 Exports§ do... Grindings of wheat.. thous. of bu_. Prices, wholesale: 4.95 Standard patents (Mpls.) dol. per bbl_. 3.66 Winter, straight (Kansas City) do.... Production: Flour, actual (Census) thous. of bbl_. Operations, percent of capacity Flour (computed by Russell) thous. of bbl . Offal (Census) _ ..thous. of lb.. Stocks, total, end of month (computed by Russell) .thous. of bbL. Held by mills (incl. wheat) (Census)..do.... 12, 764 10,844 11,498 9,623 5,358 3,483 5,720 3,104 6,917 4,893 6,970 4,430 12, 613 10, 217 .78 .66 .76 .67 .73 .73 .65 .65 .63 .65 .77 .70 .67 .68 /931 /244 /687 14, 892 18, 252 .80 .73 .71 .73 10, 578 8,754 10, 565 8,510 7,693 5,724 13, 335 11,041 9,010 7,059 1.25 .99 1.00 1.19 .92 .91 1.10 .85 .85 1.05 .77 1.05 .75 .77 .81 .70 .68 .69 16,984 14, 277 101,195 26, 726 61,080 25, 258 38,477 23,291 176, 500 260, 620 25,065 18, 726 28,333 96, 389 84, 501 65,457 133,725 420,110 150,665 139, 273 185,095 27,345 23, 797 11,900 12, 758 8,542 10, 395 10, 642 10,458 10,875 13, 778 14,274 17,090 302, 690 45, 528 66,467 273,470 43,399 54, 426 114, 796 239, 440 41,029 43,191 190, 520 28,921 33, 816 7,135 388 34, 924 7,746 437 39, 589 7,918 419 36,085 7,909 488 35, 784 8,779 415 39,165 8,630 409 39, 290 9,450 399 42,098 9,239 399 44, 234 9,737 557 43, 896 9,250 431 40,324 540 38, 357 510 38,755 5.91 5.51 5.50 4.93 5.35 4.51 5.21 4.15 5.88 4.53 5.43 4.25 4.97 4.01 4.91 3.91 4.81 3,79 4.91 3.80 5.06 3.84 5.10 3.82 7,572 53.2 8,600 51.5 7,834 48.7 7,739 49.9 8,474 52.6 8,507 55.0 9,160 54.8 63.0 9,634 60.5 8,838 59.2 8,416 54.0 8,476 57.2 7,727 631,061 8,793 710,240 8,321 650, 595 8,177 646, 817 8,656 707,364 9,573 702, 336 10,094 743,993 10, 548 770,077 10, 484 9,286 765, 608 704,995 672,015 681, 624 5,900 5,510 4,152 5,536 5,316 4,866 3,508 5,808 6,049 6,560 4,314 6,750 19,110 21, 696 437, 340 439,820 484,150 467, 360 173, 542 162, 375 161,161 154, 325 141,914 136,204 128, 748 112, 303 163, 097 6,600 ~~4~317 LIVESTOCK Cattle and calves: Receipts, principal markets.thous. of animals.. Disposition: Local slaughter do. Shipments, total _.do_ Stocker and feeder _ ..do Prices, wholesale (Chicago): Cattle, corn fed dol. per 100 lb_. Calves, vealers do... Hogs: Receipts, principal markets.thous. of animals. Disposition: Local slaughter.. do___ Shipments, total do___ Stocker and feeder _.do___ Price, wholesale, heavy (Chicago) dol. per 1001b. _ Sheep and lambs: Receipts, principal markets.thous. of animals.. Disposition: Local slaughter __ do. Shipments, total do Stocker and feeder do. Prices, wholesale (Chicago): Ewes__ dol. per 100 lb_. Lambs. ..do. 1,294 1,310 1,626 1,502 1,681 1,605 1,630 1,946 2,017 2,306 1,900 1,465 1,635 807 496 213 863 443 137 1,013 605 231 920 576 201 1,021 632 218 995 615 215 952 659 242 1,103 821 335 1,061 950 1,122 1,120 594 989 927 473 843 632 309 975 608 259 11.38 11.19 9.10 10.53 9.57 9.31 9.50 9.13 8.78 11.01 9.25 10.91 10.20 11.11 10.84 10.88 10.70 10.75 10.29 11.60 9.63 11.59 10.38 1,971 1,962 1,724 1,890 1,757 1,570 1,797 1,881 2,255 2,607 2,570 2,699 1,398 566 38 1,331 626 1,334 557 47 1,206 517 35 1,333 548 31 1,249 500 38 1,122 444 1,323 465 35 1,397 479 26 1,660 587 1,903 691 33 1,848 726 43 1,928 754 41 7.66 8.25 9.13 8.27 8.17 8.69 32 1,546 1,713 1,739 1,938 2,409 1,929 953 595 82 1,058 666 82 1,067 670 79 1,079 853 90 1,274 1,129 187 1,080 862 171 4.38 8.54 4.08 7.38 4.84 8.70 4.94 8.04 3.62 7.76 3.16 8.84 944 838 78 961 789 70 958 671 62 999 982 642 62 403, 981 •464, 861 •442, 329 452,674 1,046 944 1,279 913 456, 814 1,029 MEATS Total meats: Consumption, apparent mil. of lb_. 927 Production (inspected slaughter) do Stocks, cold storage, end of month do 785 Miscellaneous meats do Beef and veal: Consumption, apparent thous. of lb_. 377, 040 Exports§ do 841 Price, wholesale, beef, fresh, native steers (Chicago) dol. per lb__ Production (inspected slaughter) thous. of lb_. 368, 125 46, 727 Stocks, cold storage, end of m o . . . . do. Lamb and mutton: Consumption, apparent do. 58, 567 68, 452 Production (inspected slaughter) do 2,764 Stocks, cold storage, end of month do. Pork (including lard): 462, 483 Consumption, apparent. do 32, 727 Exports, total § ___do 24,483 Lard§ do. Prices, wholesale: .200 Hams, smoked (Chicago) dol. per lb_. Lard, in tierces: .073 Prime, contract (N. Y.) do Refinsd (Chicago) _..do .081 Production (inspecied slaughter) total thous. of lb. 500, 769 Lard . do 90, 038 Stocks, cold storage, end of month do.__ 668,175 Fresh and cured.. d o . . . 542, 803 125, 372 Lard ..do »• Revised. IRevised series. Data revised for 1937; see table 19 p. 8.45 8.96 8.08 7.65 7.17 7.18 2,664 2,986 2,805 1,945 1,552 1,746 1,146 1,495 438 1,174 1,786 621 1,124 1,673 856 415 890 673 155 1,063 677 113 3.19 3.27 7.93 3.28 7.56 3.35 7.68 3.73 3.78 8.59 3.97 8.63 965 937 601 61 1,017 972 548 1,070 1,005 459 53 1,097 1,073 413 50 1,092 1,177 484 54 1,040 1,227 671 72 r 1,058 1,202 ••791 76 449, 240 468,355 1,194 1,082 498, 910 1,261 479, 588 461, 485 415, 788 1,795 1,248 1,192 434,239 1,105 8.94 953 729 64 1,964 979 992 177 .126 .141 .150 .158 .174 .170 .170 399, 062 57, 023 453, 600 50, 501 423, 753 40, 145 437,167 33,601 449, 569 33, 730 444, 617 35, 925 462,160 34,467 495,838 36, 943 59, 305 59, 573 3,523 60,659 60, 094 2,901 58, 982 58, 253 2,121 61, 691 61, 732 2,125 56,240 56, 321 2,148 55, 536 55, 392 1,972 62,186 62,112 1,861 65, 392 65, 880 2,318 63, 276 63, 588 2,606 56, 375 56, 997 3,171 419, 431 23,085 16, 284 463, 597 24, 911 16, 047 451, 294 22, 471 15, 508 481, 847 29, 711 20, 340 486, 067 25, 635 17,179 460, 647 486,157 22,187 17, 329 12, 881 10, 842 506,164 25, 493 18, 790 554, 066 28, 332 21, 071 574,142 27,075 16,009 .214 .216 .214 .212 .222 .226 .242 .248 .200 .200 .200 .086 .083 .097 .080 .092 .077 .090 .074 .073 .097 .095 .106 531,753 651, 636 89, 716 105, 533 319,312 373, 641 251,645 299,142 67, 667 74, 499 756, 532 134, 776 537, 525 430,104 107,421 715,179 158,533 658,489 526,411 132,078 .093 .104 .094 .103 485, 475 82, 645 699, 633 582, 654 116.979 447, 360 77, 715 665, 263 543, 947 121,316 .087 425, 797 74, 908 622, 454 500, 564 121,890 458, 701 81, 023 574,097 450, 516 123, 581 / Dec. 1 estimate. 14 of this issue. 476, 552 80, 365 543, 770 417, 704 126, 066 436, 978 448,180 443, 756 72, 938 74,192 75, 838 502, 658 451, 397 367,177 378, 981 334, 777 277, 231 123, 677 116, 620 89, 946 .174 .172 .172 477, 452 467, 980 416,041 41, 218 52, 637 58,187 54,281 54, 684 3,541 425, 605 r 53,126 r 61, 709 61,123 ' 2, 925 570,273 •561,329 27, 258 36, 966 19,198 28, 520 44 SURVEY OF CURRENT BUSINESS 1939 Monthly statistics through December 1937, together with explanatory notes and references to the sources of the data may be found in the Febru1038 Supplement to the Survey ary April 1 939 1938 February March April May June July 1939 August Septem- October Novem- December ber ber January FOODSTUFFS AND TOBACCO—Continued POULTRY AND EGGS Poultry: Receipts, 6 markets _.thous. ofIb.. 16, 744 Stocks, cold storage, end of month d o — 116,300 Eggs: Receipts, 5 markets thous. of cases.. Stocks, cold storage, end of month: 164 Case thous. of cases.. Frozen thous. of lb__ 44, 478 TROPICAL PRODUCTS Cocoa: Imports long tons. Price, spot, Accra (N. Y.) dol. per lb. Coffee: Clearances from Brazil, totaLthous. of bags. To United States do— Imports into United States do Price, wholesale, Rio No. 7 (N. Y.) dol. per lb-. Receipts at ports, Brazil thous. of bags.. Visible supply, total, excl. interior of Brazil thous. of bags.. United States do... Sugar: Raw sugar: Cuba: Stocks, total, end of month thous. of Spanish tons. United States: Meltings, 8 ports long tons Price, wholesale, 96° centrifugal (N. Y.) dol. per lh_. Receipts: From Hawaii and Puerto Rico long tons.. Imports§ do Stocks at refineries, end of month..do Refined sugar (United States): Exports, including maple do... Price, retail, gran. (N. Y.) dol. per lb Price, wholesale, gran. (N. Y.) do__. Receipts: From Hawaii & Puerto Rico...long tons. Imports: From Cuba§ do From Philippine Islands§ _ do— Tea: Imports thous. of lb_. Price, wholesale, Formosa, fine (N. Y.) dol. per lb. Stocks in the United Kingdom..thous. of lb.. 14, 369 100, 493 12,364 78,819 1,639 13,997 60,053 1,978 1,916 281 88, 754 1,303 96,475 3,204 115,874 5,100 130,872 33, 297 . 0460 15,954 .0605 27, 515 12,936 .0520 5,795 .0467 1,222 697 1,086 1,365 676 1,404 1,463 743 1,415 1,490 709 1,206 .052 1,033 .054 1,704 .054 1,470 7,740 860 7,266 687 1,407 1,341 247,112 290,170 .028 .032 122, 989 62,287 116,014 231,923 241, 039 169,882 5. 344 .049 .042 74,302 118,088 65, 855 139,108 716 36, 763 77,692 646 4,765 110, 244 3.244 94,305 1,439 78,091 302 62,903 12,117 .0499 8,930 .0480 15. 887 . 0462 1,591 819 1,145 18, 147 .0524 1,526 818 1,189 1,598 861 1,147 1,218 775 1,386 1,451 785 1,325 .049 1,214 .054 1,624 .056 1,792 .055 1,615 .055 1,421 .053 1,700 727 7,276 701 7,621 858 7,468 721 7,409 858 7,836 914 2,037 1,894 1,554 1,316 1,014 374,511 382,948 21,697 53,432 22 960 52^ 640 1,509 1,035 23, 747 54,941 26, 965 59, 942 6,255 6,411 138, 510 135,329 5,942 125,018 .0470 21,180 .0526 40, 630 .0532 1,439 690 1,183 1,622 783 1,232 1,305 683 1,190 .048 1,619 .048 1,525 .049 1,401 7,340 736 7,388 764 7,388 813 7,215 796 2,401 2,545 2,407 300, 583 343, 685 343,093 .027 .028 .031 .029 19,121 52,049 .027 173, 722 163, 517 205,469 141, 731 158,276 271, 605 254, 278 236,888 226,003 211,077 299, 360 353, 230 429, 495 345,274 282,876 391, 543 425, 588 375, 935 .028 .031 .030 113, 822 142. 271 116,173 347, 381 311, 574 213,840 334, 246 308, 086 269,978 784 292, 036 .030 750 247, 226 .029 56,139 111, 170 215, 388 98,038 46,066 194, 732 5, 625 .049 .046 5,003 .050 .045 4,472 .050 .044 5,134 .050 .043 6,428 .049 .045 1,335 1,208 1,339 9,479 40,084 59,872 6,563 328 987 6,253 2,293 4,287 7,959 0 2,528 5,270 I1, 791 2,995 7,528 8,404 7,603 .280 165, 658 170,197 .280 182, 558 .280 189, 983 .280 214,017 .280 231, 628 .280 243, 223 13, 053 22, 945 21,401 23, 656 21, 243 26, 508 37, 588 42, 769 46, 543 38, 963 39, 238 46,890 36, S29 40, 275 427,917 587, 392 259,361 411,041 518,885 653,102 814,883 1,112,465 899, 579 34, 666 539,699 27,112 716,458 4,034 .051 .044 3,607 .053 .047 4,603 .053 .046 4,687 .052 .045 17, 734 16,446 26,116 20,066 2,485 13,017 2,908 5,187 2,223 29,454 179 33,086 6,677 25, 559 2,975 32, 712 3,621 34,121 5,676 7,931 7,319 7,138 6,829 5,004 5,697 .280 .280 217,914 3,844 .051 .046 .280 168, 201 162,841 4,958 .050 .044 MISCELLANEOUS FOOD PRODUCTS Candy, sales by manufacturerst-thous. of dol. Fish: Landings, fresh fish, prin. ports.thous. of lb.. Salmon,canned, shipments cases.. Stocks, cold storage, total, 15th of month thous. of lb.. Gelatin, edible: Monthly report for 7 companies: Production do Shipments do Stocks do.... Quarterly report for 11 companies: Production do Stocks do— 18,195 25, 652 17,387 17, 856 15, 785 13,307 12, 695 10, 359 62,109 62,184 45,694 37,367 45,981 55,039 66,716 75,882 84, 537 85,665 93, 024 90,711 1,437 1, 335 5,948 1,453 1,325 6,631 1,534 1,400 6,766 1,594 1,467 6,893 1,698 1,666 6,925 1,621 1,593 6,953 1,063 1,400 6,615 1, 056 1,994 6,014 924 1,397 5,542 1,082 1,445 5,179 1,364 1,226 5,317 1,518 1.242 5, 593 6,305 6,147 9,914 3,909 7,956 5,234 8,004 TOBACCO Leaf: Exports§ _ thous. of lb_. 37,502 35,113 21, 396 21,425 36, 624 28,987 5,492 4,752 Imports, incl. scrap§ ..do 5,793 3,703 4,373 Production (crop estimate).. mil. of lb. Stocks, total, incl. imported types, end of 2,433 2,178 quarter mil. of lb_. 1,726 1,958 Flue-cured, fire-cured, and air-cured, .do 359 371 Cigar types ..do Manufactured products: Consumption (tax-paid withdrawals): ] 1,782 11, 492 13,728 12, 527 14, 324 14,717 Small cigarettes .millions. Large cigars thousands.. 361, 233 338,887 431, 691 384,918 417,144 477,443 Manufactured tobacco and snuff 28,921 30,180 thous. of lb.. 25, 425 25,077 30, 767 27,509 Exports, cigarettes§ thousands.. 623, 889 551, 625 604,307 534,085 487, 675 598,716 Production, manufactured tobacco: Total thous. of lb.. 22, 740 27, 248 24,962 25, 766 27,184 Fine cut chewing do 502 366 394 427 335 Plug do.... 4,615 5,037 4,587 4,806 4,375 Scrap chewing do 4,142 3,551 3,105 3,373 3,493 Smoking do 14, 262 18,155 16, 363 16, 772 17,118 Twist do 451 434 460 412 Prices, wholesale: 5. 513 5.513 5.513 5.513 Cigarettes dol. per 1,000 5.513 5.513 46.056 46.056 46.056 46.056 46.056 46.056 Cigars do r 13, 467 10, 435 35, 219 6,284 60, 379 5,324 82, 034 55,167 5,641 2,227 1,822 323 54. 217 4,797 / 1, 456 2,343 1, 946 298 13, 784 15, 892 14,711 13, 264 420, 510 477,596 486, 482 525,662 13, 506 515, 859 12, 656 333,982 27, 544 466, 561 30, 473 502, 491 30, 577 420, 493 27, 869 631, 023 30,940 518,943 27,126 576, 210 24,954 378 4,701 5,443 14,005 426 27,756 409 5,140 3,709 17,962 537 27, 327 403 5,023 3,655 17, 812 433 24,969 358 4,344 2,151 17, 671 444 28,111 363 4,266 4,563 18, 503 415 24, 825 382 4,290 4,133 15, 580 440 5.513 46. 056 5,513 46. 056 fi, 513 5. 513 46 056 46. 056 5.513 46.056 5.513 46.056 Revised. /Dec. 1 estimate. JFor monthly data beginning 1928, corresponding with monthly averages for 1928-33 shown in the 1938 Supplement, see table 6, p. 17, of the January 1939 issue. §Revised series. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of this issue. 45 SURVEY OF CURRENT BUSINESS April 1939 Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary 1938 February March April May June July 1939 DecemAugust Septem- October November ber January FUELS AND BYPRODUCTS COAL Anthracite: Exports§. thous. of long tons. Prices, composite, chestnut: Retail dol. per short tonWholesale ..doProduction thous. of short tons. P4, 111 3,382 Shipments _.do Stocks, end of month: In producers' storage yards .do In selected retail dealers' yards number of days' supply.. 25 Bituminous: 282 Exports§ thous. of long tons.. Industrial consumption, total thous. of short tons.. 24,204 111 Beehive coke ovens do... Byproduct coke ovens do... 4,346 Cement mills _ do... 244 Coal-gas retorts do 137 Electric power utilities do... 3,056 ys (class ( c s I)) Railways do 6,561 S t l andd rolling Steel lli mills... i l l ddo 759 Other industrial. _ do 8,990 Other consumption: 92 Vessels (bunker) thous. of long tons.. Coal mine fuel thous. of short tons_. 249 Prices: Retail, composite, 38 cities dol. per short ton Wholesale: Mine run, composite do 4.286 Prepared sizes, composite do 4.520 Production thous. of short tons_. '33,910 Stocks, industrial and retail dealers, end of month, total thous. of short tons.. 39, 670 Industrial, total do 33, 870 Byproduct coke ovens do 7, 373 Cement mills do 403 Coal-gas retorts _ _ do 220 Electric power utilities do 8,456 Railways (class I) do 6, 719 Steel and rolling mills do 879 Other industrial do 9,820 Retail dealers, total do 5,800 128 121 9.631 3,539 3,057 11.31 9.564 4,015 3,467 9.199 3,138 8.946 4,255 3,821 1,413 1,265 1,272 1,390 26 25 58 271 279 673 22,423 165 3,539 169 138 2,888 6,169 725 8,630 23,160 154 3,795 228 144 3,015 6,427 787 8,610 110 225 101 223 4.440 4.784 27,440 38,484 32, 284 5,823 320 253 8,565 6,174 919 10,230 6,200 107 222 197 112 127 143 9.605 4,165 3,519 "97713 3,728 3,167 11.49 9.706 4,471 3,849 9.731 4,953 4,047 2,121 1,917 1,901 1,458 1,046 44 63 51 37 29 1,093 1,032 1,107 1,092 489 277 20,346 79 3,534 478 128 3,315 5,662 660 6,490 21,116 88 3,770 430 130 3,338 5,938 652 6,770 23, 734 100 4,360 486 134 3,575 6,663 736 7,680 24, 921 110 4,622 441 138 3,530 6,597 803 8,680 26,533 123 4,742 342 144 3,684 7,161 837 9, 500 " 26,185 121 4,751 r 212 149 r 3, 595 7,149 858 9,350 95 237 112 258 129 265 81 266 68 261 4.299 4. 524 32, 286 4.299 4.576 '34,989 4.299 4.565 ' 35, 925 4.298 4.557 ' 36, 541 4. 290 4.544 35, 530 36, 507 29, 377 5,952 313 263 8,029 4,672 638 9,510 7,130 39, 024 31,324 6,459 330 258 8,195 5,052 620 10, 410 7,700 40, 821 33,321 7,173 346 264 8,413 5,315 650 11,160 7,500 40, 720 33, 670 7, 462 349 252 8,491 5,629 687 10, 800 7, 050 • 39, 720 33, 270 r 7, 374 -350 '236 r 8, 379 r 5, 819 742 10, 370 6,450 38 27 25 3.750 3.750 3. 750 3.750 3.750 77 3,367 126 100 129 9.231 2,571 2,361 9.431 2,729 2,336 11.02 9.602 3,337 2,888 1,764 1,757 1,924 57 58 63 929 1,148 956 20,653 118 3,457 327 136 2,675 5,801 649 7,490 19,574 92 3,236 434 137 2,803 5,609 603 6,660 18,596 82 2,931 451 130 2,846 5,298 588 6,270 18,862 69 3,085 478 127 3,038 5,482 583 6,000 164 113 156 98 165 100 172 4.359 4.544 26,745 4.301 4.378 22,671 4.303 4.391 21,321 4.294 4.404 22,507 4.297 4.434 23,367 4.296 4.469 28,665 35, 359 30,259 5,231 347 235 8,479 5,860 837 9,270 5,100 34,102 28,952 4,935 299 227 8,404 5,548 779 8,760 5,150 33,158 27, 748 4,867 309 253 8,201 4,996 722 8,400 5,410 33, 452 27,612 5,000 311 271 8,067 4,827 716 8,420 5,840 33,615 27,265 5,364 275 277 7,905 4,532 652 8,260 6,350 34, 579 27,719 5,540 299 279 7,834 4,556 651 8,560 10.63 9.030 4,291 8.38 $.83 149 8.54 8.68 COKE Exports thous. of long tons.. Price, beehive, Connellsville (fu/nace) dol. per short ton.. Production: Beehive thous. of short tons.. Byproduct do Petroleum coke _ da s'tocks, end of month: Byproduct plants, total do At furnace plants do At merchant plants.do Petroleum coke do 23 22 19 28 45 60 3.750 4.250 4.250 4.250 4.250 3.875 3.750 71 3,078 105 2,494 122 2,474 1,196 1,279 419 97 2,675 114 75 2,436 127 3,134 1,348 1,786 522 58 2,283 138 3,275 1,376 1,899 562 52 2,067 137 3,375 1,411 1,964 574 44 2,177 138 50 2,494 148 56 2,675 111 63 3,093 147 70 3,278 153 79 3,363 142 3,564 1,460 2,104 610 3,709 1,453 2,256 651 3,675 1,392 2,283 623 3,716 1,334 2,382 654 3,745 1,307 2,438 3,610 1,291 2,319 101,352 1,720 1.160 106,165 80 96, 990 1,584 1.160 98, 661 79 100, 787 2,647 1.040 101, 830 79 97, 309 2,308 .960 98, 567 79 97, 964 2,678 .960 102, 287 77 99, 614 1,371 .960 102, 490 78 85,132 86, 705 33, 548 33, 975 243,952 240, 251 42, 724 42,979 201, 228 197, 272 1,601 1,648 87, 222 34,999 233, 463 41,131 192, 332 1,715 87,399 36,064 228, 741 40, 386 188, 355 1,572 87, 222 37,193 229,140 41, 221 187, 919 1,419 87, 595 36, 927 227,134 42, 540 184, 594 1,385 1,205 3,898 2,916 .925 1,090 3,815 2,925 .925 1,101 4,199 2,788 .925 1,193 4,010 2,771 .925 1,243 4,111 2,925 .925 ~~2,~ 587 .895 24,232 12,691 24, 552 13.074 25, 487 13, 820 24, 573 12, 793 25,197 13, 873 25,800 14,135 32, 874 28,841 33, 661 30, 860 33, 344 33, 017 30, 935 32, 069 26, 991 27, 873 24, 309 24,650 50,459 3,998 46,058 3,068 46, 272 3,572 44, 991 3,205 41, 649 4,607 37, 847 2,764 .124 .055 .140 .124 .051 .138 .124 .046 .134 .124 .046 .133 .119 .043 3,036 1,161 1,874 2,777 1,305 1,472 469 55 r 3, 330 ' 1, 241 2,089 717 PETROLEUM AND PRODUCTS f Crude petroleum: Consumption (runs to stills)._.thous. of bbl. 88,179 95,885 95, 675 99, 238 93,880 99,856 Imports! _do 1,343 2,045 2,130 2,017 1,923 2,405 2,669 Price (Kansas-Okla.) at wells..-dol. per bbl 1.160 .960 1.160 1.160 1.160 1.160 1.160 Production. thous. of bbl.. 94, 662 106, 524 102, 702 94, 277 102,898 Refinery operations pet. of capacity.. 78 79 79 77 77 79 Stocks, end of month: California: Heavy crude and fuelthous. of bbl. 74, 461 77,008 79,965 81,822 82,833 84, 724 Light crude. ___ do 31,188 31, 504 31, 624 33,151 33,138 31,669 East of California, total do... 267, 345 269,638 267,942 259, 259 251,213 247, 361 Refineries do 45, 228 45,822 45,975 45,101 44, 314 43, 674 Tank farms and pipe lines ..do... 222,117 223,816 221,967 214,158 206,899 203,687 Wells completed. _..number1,441 1,606 1,776 1,656 1,539 1,707 Refined petroleum products: Gas and fuel oils: Consumption: 1, 112 Electric power plants thous. of bbl_. 1,184 928 879 934 1,018 1,205 Railways (class I) do 3,675 3,708 3,729 3,678 3,964 3,811 2,904 yessels (bunker).. do 2,813 3,249 3,219 3,169 3,393 Price, fuel oil (Oklahoma) dol. per bbl.. .850 .875 .925 .925 .925 .925 Production: Residual fuel oil .thous. of bbl. 23,866 25,328 24,833 24,392 22, 761 23, 547 Gas oil and distillate fuels, total d o . . . 12,144 12,294 10, 784 12,688 11, 577 12,160 Stocks, end of month: Residual fuel oil, east of California thous. of bbl.. 26,855 25,981 27,815 29,284 30,282 32,285 Gas oil and distillate fuels, total- do 19,885 19, 972 22,385 18,882 24,699 26,620 Gasoline: Consumption, domestic thous. of bbl 31,861 43, 254 44,911 48,293 47,474 41,259 Exports§ do.... 2,569 3,100 3,742 3,029 3,603 3,517 3,597 Price, wholesale: Tank wagon, delivered (New York) dol. per gal.. .119 .130 .130 .130 .130 .130 .127 Refinery (Oklahoma) do .042 .049 .051 .053 .051 .053 .055 Price, retail, service stations, 50 cities.do." .140 .141 .141 .141 .141 .141 ' Revised. v Preliminary. tRevised series. Petroleum and products revised for 1937; see table 9, p. 15 of the March 1939 issue. §Revised series. Data for 1937 revised; see tables 19 and 20, pp. 14 and 15 of this issue. r 1,236 .119 .041 46 SUEVEY OF CUREENT BUSINESS Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary April 1939 1938 February March April May June July 1939 DecemAugust SeptemOctober November ber ber January FUELS AND BYPRODUCTS—Continued PETROLEUM AND PRODUCTSf-Con. Refined petroleum products—Continued. Gasoline—Continued. Production: At natural gas plants _thous. of bbl._ At refineries: Total _do Straight run do Cracked do Natural gasoline blended do Retail distribution mil. of gal... Stocks, end of month: Finished gasoline, total thous. of bbl_. At refineries do Natural gasoline do Kerosene: Consumption, domestic __do Exports § do Price, wholesale, water white 47, refinery (Pennsylvania) _ dol. per gal.. Production thous. of bbl_. Stocks, refinery, end of month do Lubricants: Consumption, domestic -do Price, wholesale, cylinder, refinery (Pennsylvania) __ -dol. per gaL. Production thous. of bbl.. Stocks, refinery, end of month _.do Asphalt: Imports § short tons.. Production -do Stocks, refinery, end of month __do Wax: Production thous. of lb_. Stocks, refinery, end of month. —do 516 .052 3,889 4,326 4,171 4,196 4,001 4,127 4,226 4,081 4,375 4,244 4,345 4,264 40,469 18, 267 19,474 2,728 1,366 44,116 19, 769 21,114 3,233 1,688 44,582 20,040 21,686 2,856 1,732 46, 645 20,804 23,042 2,799 1,850 44, 247 19,735 21, 877 2,635 1,926 47,607 21,020 23, 652 2,935 1,982 48, 662 21,524 24,188 2,950 2,087 47,312 20,934 23,049 3,329 1,911 49,677 21, 383 23,862 4,432 1,889 47,998 20, 397 23, 379 4,222 1,761 47,780 20, 794 22, 701 4,285 1,749 48, 308 21,125 23, 546 3,637 85,018 58,945 5,017 85,035 60,043 5,531 82,684 57,660 6,179 80,987 54,010 6,548 73,725 47,159 6,951 70,224 43,091 7,614 64, 599 40,137 8,022 63,163 38,819 8,159 63, 542 38, 739 6,771 64, 083 39,376 5,742 65, 949 41,805 4,830 73, 847 49,419 4,567 5,017 654 6,150 535 3,637 745 3,257 381 3,752 210 4,292 697 4,187 797 5,185 5,368 323 .054 5,798 6,093 .052 5,649 7,627 .053 5,235 9,202 .053 4,889 10,112 .052 4,933 10,149 .051 5,348 10,497 .051 5,320 9,949 .050 5,419 9,676 6,813 783 .049 5,739 7,799 5,980 776 .056 5,167 5,986 4,333 788 .053 6,445 6,394 .049 5,702 6,711 1,311 2,195 1, 591 1,730 1,606 1,844 2,002 2,127 1,805 1,735 1,831 1,609 .105 .110 2,468 8,363 .110 2,697 8,210 .110 2,530 8,290 .110 2,595 8,255 .110 2,378 8,114 .106 2,631 8,194 .105 2,676 7,969 .105 2,615 7,605 .105 2,632 7,718 .105 2,535 7,817 .105 2,384 7,695 .105 2,527 7,762 9,662 1,276 191,600 620,400 1,208 1,902 1,578 1,727 2,335 278,900 334,000 450,000 445,600 475,800 633,200 663,700 710,700 669,300 633,200 3,461 2,869 2,844 1,923 1,649 2,078 614,400 456,300 464,900 322, 700 242,400 244,000 566,400 471,100 442, 200 447, 600 480, 900 532,000 34,720 148,823 39, 760 31,640 150,465 144,626 31,920 134,103 36,400 129,018 42,000 37,520 36,120 35, 280 128, 926 131, 772 129, 340 128,627 35,560 140,826 37,800 138,260 30,240 135,911 LEATHER AND PRODUCTS HIDES AND SKINS Imports, total hides and skins§ thous. of lb-. Calf and kip skins § do Cattle hides § __ _ . - do - . Goatskins§ . do Sheep and lambskins § do Livestock (inspected slaughter): Calves thous-of animals Cattle do ._ Hogs do Sheep do _ Prices, wholesale (Chicago): Packers, heavy steers dol, per lb_. Calfskins, packers', 8 to 15 lb do LEATHER Exports: Sole leather __ _ thous. of lb . Upper leather§ thous. of sq. ft-. Production: Calf and kip thous. of skins.. Cattle hides thous. of hides. Goat and kid __ thous. of skins Sheep and lamb do prices, wholesale: Sole, oak, scoured backs (Boston) dol. per lb-_ Upper, chrome, calf, B grade, composite, dol. per sq. ft-. 8tocks of cattle hides and leather, end of month: Total thous. of equiv. hides-.In process and finished do Raw _. _ __ _ do . 28,189 2,809 13, 200 6,189 3,975 9,567 981 3,071 3,404 1,508 9,251 916 3,158 2,634 1,995 7,759 1,289 1,046 2,570 2,056 11,561 1,337 2,737 4,733 1,902 12,242 1,429 2,058 4,176 3,942 14, 903 2,144 5,393 4,795 J,941 16,266 3,175 2,716 5,223 4,341 16,897 2,133 5,670 5,498 2,282 19, 803 2,116 7,527 4,945 3,641 24, 399 3,440 10, 725 6,122 2,685 25, 657 3,972 9,588 6,075 4,468 32, 826 3.563 13, 528 6,317 7,901 385 653 2,890 1,361 398 716 2,833 1,424 506 809 2,610 1,428 502 749 2,462 1,425 500 772 2,585 1,550 475 816 2,533 1,485 436 820 2,254 1,461 457 848 2,467 1,603 453 917 2,671 1,694 470 884 3,311 1,638 457 858 3,913 1,453 417 758 4,346 1,347 415 761 4,043 1,456 .104 . 154 .124 .118 .109 .123 .099 .113 .095 .123 .093 .114 .111 .139 .119 .145 .120 .143 .134 .161 .141 .163 .123 .157 .121 .163 14 3,492 209 4,780 52 4,567 58 4,563 109 4,169 97 3,623 49 3,669 60 3,738 41 3,709 49 4,651 42 3,420 26 3,689 6 3,097 1,000 1,471 2,638 2,195 1,127 1,617 2,831 2,125 870 1,381 2,506 1,827 865 1,409 2,371 2,010 1,032 1,457 2,675 2,184 1,222 1,407 2,394 2,308 1,349 1,764 2,755 3,226 1,066 1,717 2,336 2,716 1,100 1,755 2,525 2,822 1,138 1,786 2,634 2,872 r 1, 277 r 1, 882 3,245 2,899 1,315 1,931 3,185 2,795 .303 .314 .305 .305 .305 .305 .315 .318 .320 .320 .324 .318 .315 .390 .381 .378 .365 .366 .366 .377 .378 .378 .385 .392 .390 .393 15,118 10,968 4,150 14, 576 10,589 3,987 14,052 10,308 3,744 13,874 10,193 3,681 13,967 10,223 3,744 13,865 10,014 3,851 13,331 9,666 3,665 13,244 9,540 3,704 13,440 9,665 3,775 13, 885 10, 074 3,811 r 13,996 r 10, 301 r 3, 695 14, 031 10, 289 3,742 104,668 61, 742 42,926 122,385 69,028 53, 357 109,081 55,084 53,997 116,492 63,953 52, 539 145,710 85,185 60,525 150,480 92, 255 58,225 181, 791 112,736 69,055 173,882 106,761 67,121 183, 667 115,942 67,725 162, 797 102,725 60,072 135, 759 74, 065 61,694 119, 257 63,177 56, 080 LEATHER MANUFACTURES Gloves and mittens: Production (cut), total dozen pairs Dress and semidress . . . .do __. Work do Shoes: Exports thous. of pairs Prices, wholesale, factory: Men's black calf blucher dol. per pair.. Men's black calf oxford do Women's colored calf do . . Production: Total boots, shoes, and slippers thous. of pairs Athletic _ , _ . do All fabric (satin, canvas, etc) _do Part fabric and part leather do High and low cut, total do Boys' and youths'. do . Infants' do Misses' and children's do Men's do Women's . _- . do Slippers and moccasins for housewear thous. of pairs.. All other footwear . do r Revised. 195 182 203 171 127 116 136 164 191 200 138 113 108 5.75 4.75 3.00 6.00 5.00 3.35 6.00 5.00 3.35 6.00 5.00 3.35 5.75 4.75 3.23 5.75 4.75 3.00 5.75 4.75 3.00 6.76 4.75 3.00 5.75 4.75 3.00 5.75 4.75 3.00 5.75 4.75 3.00 5.75 4.75 3.00 5.75 4.75 3.00 30, 331 131 1.287 1,900 24, 920 1,122 1,616 2,892 7 086 12, 203 37, 543 204 1,303 1,314 31, 636 1,349 2,039 3,663 8,442 16,143 33, 468 180 1,036 889 28,044 1,221 2,079 3,414 7 360 13, 970 30, 473 169 961 729 24,998 1,221 1 817 3,394 6 829 11 738 26, 897 225 459 192 22, 491 1,361 1,681 3,008 7 314 9,128 30,742 187 314 202 26, 546 1,426 1,576 3,314 7 027 13, 204 42, 252 295 291 405 36, 247 1,958 1,845 4,090 10,067 18, 287 38, 280 263 319 331 31,987 1,803 1,818 3,859 9,568 14, 940 35,012 282 303 315 27, 799 1,638 1,878 3,583 9,250 11,451 30, 054 304 305 354 22, 556 1,553 1,886 3,132 8,691 7,295 29, 988 331 355 476 24, 359 1,426 1,775 3,399 8,403 9,355 33, 527 260 457 659 30,108 1,412 1,988 3,741 8,875 14, 091 1,486 608 2,279 806 2,361 958 2,676 941 2,837 692 3,108 384 4,692 322 5,115 264 6,078 6,422 114 4,297 170 1,695 348 +See footnote marked with a " t " on p 45. §Revised series. Data revised for 1937, see tables 19 and 20, pp. 14 and 15 of this issue. 236 47 SUEVEY OF CURRENT BUSINESS April 1939 1939 1938 Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary February March April May June July DecemOctober NovemAugust September ber ber January LUMBER AND MANUFACTURES LUMBER-ALL TYPES Exports (boards, planks, etc.) § M ft. b. m__ National Lumber Mfrs. Assn.: Production, total mil. ft. b. m__ Hardwoods do Softwoods _ . . doShipments, total do Hardwoods do Softwoods do Stocks, gross, end of month, total do. . Hardwoods do do Softwoods Retail movement (yard): Ninth Federal Reserve district: Sales M ft. b. m Stocks, end of month do FLOORING Maple, beech, and birch: Orders: New . M ft b. m Unfilled, end of month do Production do Shipments do Stocks, end of month _ do Oak: Orders: New. __ . . do Unfilled, end of month do Production . do Shipments .... do do Stocks, end of month SOFTWOODS Fir, Douglas: Exports: Lumber § . . . M ft. b. m . Timber do... Prices, wholesale: No. 1, common boards.dol. per M ft. b. m_. Flooring, 1 x 4, " B " and better, V. G. dol. per M ft. b. m__ Southern pine: Exports: Lumber§..._ M ft. b. m__ Timber do Orders: Newt jnil. ft. b. m__ Unfilled, end of month do Price, wholesale, flooring dol. per M ft. b. m__ Production! mil. ft. b. m__ Shipments!do Stocks, end of month doWestern pine: Orders: New do Unfilled, end of month.. Price, wholesale, Ponderosa pine, 1x8, no. 2, common (f. o. b. mills).dol. per M ft. b. m__ Production... mil. ft. b. m__ Shipments . do 8tocks, end of month do West Coast woods:! Orders: New do . Unfilled, end of month do Production. „ do Shipments do Stocks, end of month . . do Redwood, California: Orders: New ____M ft. b. m__ Unfilled, end of month do Production „ doShipments do do Stocks, end of month 52,902 62,400 61,572 69,945 63,735 64,857 61,517 67,998 68,107 56, 729 79, 697 58, 817 1,275 249 1,026 1,389 221 1,168 8,710 2,313 6,397 1,698 296 1,402 1,748 238 1,511 8,647 2,354 6,293 1,473 219 1,254 1,489 225 1,264 8,625 2,348 6,278 1,550 208 1,342 1,531 222 1,308 8,648 2,332 6,316 1,696 211 1,485 1,684 230 1,454 8,672 2,318 6,354 1,606 204 1,402 1,775 267 1,508 8,511 2,259 6,252 1,998 222 1,776 2,033 283 1,750 8,481 2,200 6,281 1,901 237 1,664 1,843 293 1,550 8,560 2,155 6,405 1,790 239 1,552 1,847 295 1,552 8,506 2,099 6,407 1,675 246 1,429 1,789 311 1,478 8,442 2,058 6,384 1,505 233 1,271 1,593 263 1,330 8,373 2,069 6,304 1,582 295 1,287 1, 662 308 1,355 8,309 2,055 6,253 3,189 84, 258 4,695 83,286 8,058 86,244 9,553 83,915 11,747 81,515 11,568 80,797 13, 504 80,238 12, 637 76,062 16, 282 69, 666 5,900 9,900 4,400 4,900 24,250 7,050 9,650 6,250 6,900 23,600 6,350 9,800 5,400 6,100 23,350 5,050 8,700 5,450 5,850 23,100 7,000 8,000 5,600 7,000 21,000 7,900 9,600 5,400 6,400 20,000 7,450 9,850 7,000 7,250 19,950 5,400 8,800 6,3C0 5,950 20, 350 7,000 10, 600 5,400 5, 200 21, 000 6,200 11, 200 6,100 5,500 21, 600 6,500 13, 000 6,200 4,900 23, 350 7,450 14, 700 6,000 5,900 23, 800 26,910 56,482 27, 640 27, 308 94, 730 33,651 32, 355 24,399 24, 490 85,240 38,105 34,805 32, 272 35,655 81,857 24,643 32,464 29,694 26,984 84,567 29,186 33,364 29,059 28,286 85,340 34,248 37,379 28, 783 30,233 83,890 58,516 59,906 30,762 35,989 78,663 36,943 55,338 62,468 41,511 79,620 26,575 47, 416 39,035 34,497 84,158 41,133 56, 393 36,188 32,156 88,190 30,891 55, 724 35,139 31, 560 91, 769 26, 659 52, 697 31, 720 27, 686 94,181 36, 868 60, 649 28,463 26,916 95, 228 20, 276 5,696 19,776 8,480 18,775 6,235 17,820 3,382 21,860 20,149 15,497 13,368 18,211 8,636 13,448 2,222 15, 712 4,365 19, 284 5,322 13, 608 4,961 21, 083 9,015 18, 625 5,929 18. 620 17.640 17. 640 17.640 17. 640 17. 640 17. 640 17.640 17.640 17.640 17. 640 18. 008 18. 424 36.260 35.770 ' 35. 280 35. 280 35. 280 60, 351 0) (i) a 6 17, 280 62, 948 0) 0) 36. 000 36. 995 36. 260 36. 260 36. 260 35. 893 35. 770 36.260 13, 787 4,709 17,170 4,924 20,156 5,570 20,120 4,228 21, 777 7,215 20, 513 5,083 19,087 4,245 21,280 4,632 21, 282 4,197 21,933 4,527 16, 976 5,190 22, 652 4,012 15, 283 4,326 495 309 555 264 496 264 497 239 584 286 724 343 622 304 612 296 710 364 539 323 473 307 557 330 41.97 527 520 2,241 41.19 615 600 2,256 41.05 524 496 2,284 39.67 553 522 2,315 40.63 520 537 2,298 40.78 570 667 2,201 41.41 630 661 2,170 41.46 639 620 2,189 41.22 578 642 2,125 42.09 530 580 2,075 41.01 508 489 2,094 40.76 540 534 2,100 266 215 311 191 284 184 324 189 336 187 442 276 399 253 333 201 347 190 386 255 391 283 279 247 24.65 108 239 1,889 24.77 219 323 1,785 24.15 275 278 1,782 23.31 359 315 1,826 22.50 456 358 1,924 21.32 432 374 1,982 22.49 536 475 2,037 22.17 488 411 2,109 21.91 430 388 2,139 22.04 305 335 2,104 22.92 238 322 2,014 24.30 181 299 1,896 411 354 333 372 1,059 524 342 510 536 1,033 350 280 398 412 1,019 388 265 371 403 988 516 270 440 512 935 524 381 354 413 895 537 334 578 584 905 411 282 466 463 920 444 264 471 471 935 555 324 518 495 986 451 361 416 414 988 445 388 446 413 1,021 22,992 37,991 23,734 13,949 308,008 24,483 43,765 20,574 17,825 309,437 24,926 33, 302 23,944 37,091 292,203 23,887 24,770 24,518 31,255 282,953 22,874 22,120 30,336 28,145 279,415 26,978 25,116 26,665 23,333 282,291 29,218 26,599 34,229 27,885 287,243 23,409 23, 322 34,838 28,026 296,177 25,350 25, 111 30, 722 24, 427 299, 367 25, 939 24, 694 33,106 25,028 304,859 22,134 25, 310 27, 284 19, 961 313, 047 34, 270 34,562 25, 261 23,811 309, 310 42 0 42 0 43.0 41 0 42.0 47.0 53.0 58.0 60.0 57.0 58.0 56.0 6 0 14 23 46 0 12 8 0 13 17 49 0 14 8 0 10 15 43.0 11 12 0 12 16 41 0 10 5.0 11 16 43.0 10 5.0 21 26 46.0 12 3 5 21 27 50 0 16 4.0 20 23 55.0 18 5.0 20 20 60.0 16 6.0 19 18 61.0 15 7.0 12 13 62.0 13 4.0 19 21 58.0 12 82 1 102.3 87.6 87.2 82 1 102.3 87.6 87.2 82 1 102.3 87.6 87.2 82 1 102.3 87.6 87.2 82 1 102.3 87.6 87.2 80 3 102.3 87.6 87.2 80 3 102.3 87.6 87.2 80.4 102.3 87.6 87.2 80.4 102.3 87.6 87.2 79.3 102.3 87.6 87.2 77.6 102.3 87.6 87.2 77.6 102.3 88.1 39.86 25.24 FURNITURE All districts: Plant operations __ _ percent of normal Grand Rapids district: Orders: Canceled percent of new orders New no of days'pro^lio^irkTi Unfilled, end of month do Plant operations percent of normal Shipments no of davs'Droduction Prices, wholesale: Beds, wooden 1926—100 Dining-room chairs, set of 6 do-.II Kitchen cabinets do Living-room davenports "'.do'."'. Steel furniture (see Iron and Steel Section). 77 6 102.3 88.1 r 1 Revised. Discontinued. Data as currently reported are comparable with the corresponding month of the preceding year, but not with the preceding cmonth in the same year. • Total for November and December; data not reported separately for the two months. » As of December 31. No quotation. IData for March, June, August, and November 1938 are for 5 weeks; other months, 4 weeks. tRevised series. Production, shipments, and new orders of southern pine lumber for 1937-38 and production, shipments and stocks of western pine, 1937-38, have been available. §Revised series. Data revised for 1937; see table 19, p. 14 of this issue. 48 SURVEY OF CURRENT BUSINESS April 1939 1938 Monthly statistics through December 1987, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary February March April May June July 1939 DecemAugust SeptemOctober November ber ber January METALS AND MANUFACTURES IRON AND STEEL Foreign trade: Exports (domestic) total§ long tons.. 359, 690 224,913 Scrap do Imports, total§ . . d o . . . . 19,149 1,413 Scrap do— Price, wholesale, iron and steel, composite 36.37 dol. per long ton.. Ore iron ore: Lake Superior district: Consumption by furnaces thous. of long tons_. Shipments from upper lake ports do Stocks, end of month, total— --do— At furnaces ..do Lake Erie docks do Imports, totally -do— Manganese ore, imports (manganese content) § thous. of long tons.. 489, 202 540, 639 312,021 309,952 374,320 162,066 21, 237 20,814 15,887 12 395 314 263,699 242,139 126, 423 108,029 14, 728 20,041 634 1,637 346, 068 425,421 469, 596 490,095 149, 673 223,954 273,440 323, 691 27, 958 26, 445 27, 627 28, 767 4,749 6,519 5,524 4,218 460, 640 256, 790 19,589 0 11,827 227 38.90 38.80 38.61 38.50 38.41 36.32 36.50 36.48 36.48 36.39 36.37 36.36 1,727 0 37,167 31,392 5,775 152 1,980 0 35, 223 29, 736 5,487 101 1,854 261 33,676 28,281 5,396 168 1,711 1,181 33,012 27,768 5,244 186 1,472 2,838 34,329 29,160 5,170 170 1,675 3,268 35,846 30,656 5,190 206 2,077 3,326 37, 050 31, 759 5,292 172 2,314 3,285 37, 874 32, 516 5,358 188 2,781 3,624 38, 594 33, i73 5,421 226 3,150 1,481 37, 546 32,166 5,290 198 3,041 0 34, 579 29, 456 5,123 187 2,927 0 31, 689 26, 646 5,043 ISO 13 16 12 19 21 31 35 15 26 30 10 19,557 19,252 23.5 20, 596 20, 556 21,902 26.0 22,962 19, 724 18,680 22.7 23,045 17,564 17,097 20.8 20,560 18,143 18,077 21.7 21,673 16,905 16, 630 20.2 17,500 25, 752 25, 799 31.3 21,102 29, 061 29, 460 34.8 26, 941 32, 770 29, 970 36.4 28, 7i7 36, 643 35, 351 43.0 35, 563 35, 633 38, 802 46.0 36, 434 38,105 35, 372 43.5 36, 403 47,045 91 46,480 90 42,310 79 37, 225 72 34,385 70 51,370 57, 625 96 70, 690 115 75, 795 121 71,315 117 70,235 118 23.50 24.11 23.50 24.11 23.50 24.13 23.50 24.15 22.50 23.59 41,400 77 19.50 20.15 19.50 20.15 19.75 20.29 20 50 21. 14 20.50 21.15 20. 50 21.15 20. 50 21.15 25.89 1,298 25.89 1,452 25.89 1,376 25.89 1,255 24.89 1,062 21.89 1,202 21.89 1,494 22.14 1,680 22.89 2,052 22.89 2,270 22.89 2,211 22.89 2,175 502 1,215 19,994 1,063 1,131 19,929 931 1,181 19,709 1,224 1,297 19, 707 2,478 1,400 20,758 2,135 2,015 20, 677 2,227 2,287 20,619 2,391 4,078 18,925 3,561 4,803 17, 701 2,233 3,083 16, 877 1,338 2,182 16,114 1,573 1,642 15,986 10,380 8,417 119,846 12,931 9,209 123, 711 14, 681 20, 367 25, 336 22, 851 17, 841 17,804 30, 852 34,108 122,860 125,446 119, 841 108,445 15, 388 20, 027 104, 021 10,128 15, 081 98? 831 12,881 12, 276 99,128 285 326 409 619 604 656 498 442 2,753 2,571 27, 576 3,071 2,715 27,850 2,794 3,692 26,999 3,752 5,008 25,637 5,240 4,423 26,451 4,958 5,219 26, 216 6,023 5,214 27, 098 7,199 6,387 28,003 6,907 7,679 27, 268 4,765 5,697 26, 394 3,955 4,815 25, 624 4,896 3,814 28 279 49,318 17,724 47, 640 48,079 33,004 71,414 17,191 72,378 71,947 33, 435 68,013 19,101 63,040 66,103 30,372 56,976 15,205 60,497 60,872 29,997 65,902 16,153 64,185 62,928 31,254 50,377 14,279 51,900 52,251 30,903 57,721 15,414 56, 595 56, 586 30,912 68, 337 108, 427 18, 016 46,882 65, 622 77, 563 65, 735 79, 561 30, 799 28, 677 70, 862 37,170 83, 716 80, 574 31,819 47, 882 20. 626 70, 232 64,426 37, 625 61, 003 15,026 64,094 66, 603 35, 317 2,963 3,858 3,738 4,478 4,008 3,194 5,069 4,229 6,067 3,596 4,525 5,022 5,434 5,144 2,157 2,692 2,636 2,977 2,229 2,994 2,759 3,310 2,967 2,991 3,039 3,518 3,217 3,094 3,385 30,863 27.6 11,107 27, 436 24.5 7,498 28,096 25.1 6,888 30,793 27.5 7,312 21,869 19.5 2,498 25,150 22.5 4,290 20,636 18.4 2,697 22,127 19.8 3,892 21, 419 19.1 4,907 24, 111 21.5 4,479 36,641 32.7 16, 589 22,988 20.5 6,111 24,814 22.2 4,411 36,454 32.5 12,983 25, 565 22.8 5, 462 28, 478 25.4 8,353 25,418 22.7 4,127 28,109 25.1 30, 428 27.2 7,128 29,994 26.8 7,207 38, 342 34.2 14, 749 36,130 32.3 11,282 42, 024 37.5 12,606 38, 928 34.8 12, 804 2,955 54 1,704 2,012 1,925 33 1,807 31 1,638 1,982 35 2,547 42 2,658 45 3,118 53 3,572 61 3,143 54 3,187 54 38, 571 17,590 21,185 19,882 18,262 18,234 18,166 28,327 30, 903 35,106 37,673 36,315 39, 648 .0268 .0289 .0289 .0289 .0268 .0266 .0268 .0268 .0268 34.00 .0210 14.06 37.00 .0225 12.69 37.00 .0225 12.15 37.00 .0225 11.38 37.00 .0225 10.95 34.00 .0210 13. 50 34.00 .0210 12.88 34.00 .0210 14.20 34.00 .0210 13. 75 34. 0G .021(1 13. 8£ 678 475 502 465 663 680 362, 227, 27, 3, 672 884 664 333 Pig Iron and Iron Manufactures Castings, malleable: Orders, new short tons.. 33. 234 34, 786 Production do 42.9 Percent of capacity.— Shipments short tons.. 34, 698 Pig iron: Furnaces in blast, end of month: Capacity long tons per day.. 74, 285 121 Number _ _ Prices, wholesale: 20. 50 Basic (valley furnace) dol. per long ton.. 21.15 Composite do Foundry, No. 2, northern (Pitts.) 22.89 dol. per long ton_. 2,060 Production— —thous. of long tons.. Cast-iron boilers and radiators: Boilers, round: 1,807 Production —thous. of lb_. 1,447 Shipments _do 16, 420 Stocks, end of month do Boilers, square: 13,801 Production do 9,246 Shipments . do 104, 303 Stocks, end of month -do Radiators: Convection type: Sales, incl. heating elements, cabinets, 305 and grilles-thous. sq. ft. heating surfaceOrdinary type: 4,711 Production. _do.._ 2,950 Shipments do._. 30, 800 Stocks, end of month. do Boilers, range, galvanized: Orders: 50, 876 New number of boilers. 12, 604 Unfilled, end of month, total do... 56, 476 Production do___ 53, 298 Shipments __do 38, 495 Stocks, end of month __do.__ Boiler and pipe fittings: Cast iron: Production short tons_ 0) Shipments do... 0) Malleable: 0) Production do.__ Shipments _do__. 0) 10, 219 13, 560 16,705 12, 798 14,123 10,557 123,440 124,291 125,805 703 614 0) 0) 6,737 0) 0) 0) 0) 0) 0) 0) (0 0) 0) 0) 0) 0) 0) Steel, Crude and Semimanufactured Castings, steel: Orders, new, total.. short tons.. Percent of capacity Railway specialties short tons.. Production, total do— Percent of capacity Railway specialties. short tons.. Ingots, steel: Production -thous. of long tons.. Percent of capacity Bars, steel, cold finished, carbon, shipments short tons.. Prices, wholesale: Composite, finished steel dol. per lb_. Steel billets, rerolling (Pittsburgh) dol. per long ton. Structural steel (Pittsburgh) dol. per lb. Steel scrap (Chicago) dol. per gross ton.. U. S. Steel Corporation: Earnings, net thous. of dol. Shipments, finished steel products thous. of long tons. .0286 discontinued by the reporting source. §Revised series. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of this issue. 34.00 .0210 12.00 34.00 .0210 13.75 478 19,792 10.026 9,692 10,104 572 36.25 .0221 10.38 559 578 694 781 49 SURVEY OF CUREENT BUSINESS April 1939 Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary 1939 1938 February March April May June July DecemOctober NovemAugust September ber ber January METALS AND MANUFACTURES—Continued IRON AND STEEL-Contlniicd Steel, Manufactured Products Barrels and drums, steel, heavy type: Orders, unfilled, end of month number.. Production. __ do Percent of capacity Shipments number.. Stocks, end of month do Boilers, steel, new orders: Area thous. of sq. ft.. Quantity number.. Furniture, steel: Office furniture: Orders: New.. __ thous. of dol_. Unfilled, end of month do. Shipments do. Shelving: Orders: New _ do. Unfilled, end of month do. Shipments do. Plate, fabricated steel, new orders:* Total.. short tons.. Oil storage tanks __do Plumbing and heating equipment, wholesale price (8 items) dollars.. Porcelain enameled products, shipments! thous. of dol__ Spring washers, shipments do._. Steel products, production for sale (quarterly): Merchant bars thous. of long tons.. Pipe and tube do Plates do . . Rails do Sheets, total .do Percent of capacity Strip: Cold rolled thous. of long tons.. Hot rolled. do Structural shapes, heavy do Tin plate do Wire and wire products do Track work, shipments ..short tons.. 421, 037 484,965 498,917 552,189 529, 566 773,570 35.0 47.8 35.0 556, 069 533, 715 771,313 28,770 30, 586 26,799 448, 567 399,085 448,176 361,750 678,191 696,264 629,448 41.9 43.3 39.1 43.3 680,180 696, 738 685, 453 622,155 25,474 34,089 41,287 23,118 691 894 1,063 579 1,124 717 1,125 635 947 892 1,012 M,120 'I, 261 1,689 1,128 1,591 1,554 1,202 1,480 1,538 1,063 1,677 1,630 1,026 1,667 1,650 958 1,718 1,813 1,064 1,707 1,852 977 1,982 1,966 1,132 1,813 305 321 292 227 353 321 302 247 292 378 411 386 317 318 362 342 335 255 442 315 205 357 368 253 318 21,958 4,797 25,141 11,425 20,044 5,813 27, 773 15,382 22,069 3,646 18, 551 3,623 21, 793 5,379 20, 213 3,629 28, 218 5,950 20, 511 4,081 226. 71 227.12 227.10 226.89 235.42 235.03 234. 01 233.88 233.97 233. 97 233. 99 313 138" 703 119 648 115 709 101 626 84 749 123 736 137 796 164 675 186 645 177 610 185 817 892 435 489 739 663 475 585 734 7C0 547 1,782 1,140 1,775 1,680 1,105 1,849 1,822 958 1,969 1,444 976 1,426 1,290 974 1,293 388 292 349 413 298 418 442 276 464 346 324 22, 903 7,401 17, 827 1,673 38,052 14,635 229.31 606 114 234. 64 """180 4,250 3,014 378,675 445, 310 374.454 248,376 519,375 438, 746 766,374 783, 592 841,653 788,040 830, 979 749, 070 52.3 47.6 48.7 49.0 51.7 47.5 771, 283 759,188 865, 572 799, 678 822, 746 746, 510 60,160 36,241 35,756 24, 603 32, 696 34, 717 354 488 312 215 788 30.4 351 491 310 176 781 29.9 434 564 384 116 1,131 43.1 616 611 452 105 1,812 69.0 62 171 308 356 402 r 4,822 65 166 318 383 463 3,177 214 367 331 528 160 384 395 374 617 2,840 r 4, 150 T 2, 959 * 2, 395 r 3, 036 r 2, 514 !,909 NONFERROUS METALS AND PRODUCTS Metals Aluminum: 34,522 34,446 18. 855 36, 204 26, 795 33, 737 41,060 33, 660 29,110 Imports, bauxite§ long tons.. 35, 397 44,058 69,097 36,361 Price, wholesale, scrap, castings (N. Y.) .0736 .0492 .0813 .0584 .0813 .0800 .0663 .0750 .0784 dol. per lb__ .0713 .0634 .0870 Babbitt metal (white-base antifriction bearing metals): 1,474 1,596 1,606 1,225 1,538 1,714 1,106 1,305 Consumption and shipments,total.thous. of lb_ 1,449 1,234 1,177 1,510 453 508 597 648 345 509 644 370 329 468 359 233 390 Consumed in own plants do 1.021 958 1,030 863 881 1,070 776 1,090 944 Shipments do. 1,120 857 Copper: Exports, refined and manufactures § 40, 441 40,915 31, 285 40, 741 25, 503 33,102 42, 369 36,984 44, 555 29,385 29,503 short tons.. 23, 807 27,883 10, 439 16,154 22, 132 18, 551 12, 976 13,192 19,818 22,166 18, 578 15,241 11, 634 16,004 19,187 Imports, total§— do 12, 402 9,408 15, 568 21,731 18, 076 15, 591 12, 575 18, 634 19, 549 11,673 16,631 For smelting, refining, and export§._.do 10, 509 13,163 Product of Cuba and Philippine Islands 172 156 42 91 77 100 1,974 1,976 2,001 146 1,978 1,995 short tons__ 244 954 413 1,260 700 374 616 1,014 1,148 690 979 561 Allother§ do . . Price, wholesale, electrolytic (N. Y.) .1076 .1103 .0990 .1103 .1103 .0878 .1003 .0938 .1103 .0978 dol. per lb__ .0978 Production: Mine or smelter (incl. custom intake) r 72, 622 69,012 72,963 49, 316 69,630 50,941 49,125 38,200 31,155 56,199 44,558 short tons.. 60, 504 50,704 66, 746 67, 947 66,182 45,808 56,824 59, 225 59,393 55, 749 47, 300 32, 465 35, 596 61,117 Refinery do 67,919 82, 605 64, 557 47, 680 54, 827 51,377 43,303 54, 597 62,832 32, 282 44, 576 42,871 33,154 Deliveries, refined, total I.do 51, 297 38, 853 51, 059 53,637 48,071 48, 067 27, 389 33,434 31,684 32,863 41,249 69,827 28,044 Domestic __ do 13, 260 3, 768 14,282 8,827 3,310 11,187 10,440 13, 348 14,761 4,893 11,142 12,778 5,110 Export do 269,488 289, 755 301,110 308, 958 326,244 342, 785 355, 663 369,809 358,971 339,970 315,191 267,299 Stocks, refined, end of month do Lead: Imports, total, except manufactures (lead con4,482 1,692 11,998 4,241 4,034 2,727 1,726 tent^ ...short tons.. 15, 485 3,263 4,476 4,443 1,486 1,401 Ore: 34, 716 35, 885 45, 280 25,941 27, 605 28,193 Receipts, lead content of domestic ore.do... 30, 726 27. 584 25,269 31,908 30, 645 34,890 6,052 9,695 3,911 3,576 3,744 5,113 1,902 6,432 4,330 4,108 Shipments, Joplin district* do 5,052 5,427 6,314 Refined: Price, wholesale, pig, desilverized (N. Y.) .0484 .0509 .0483 .0500 .0510 .0490 .0415 .0450 .0488 . 0481 .0440 dol. per lb._ .0463 .0450 30, 988 38, 299 35,958 24,994 27,968 23,723 27,976 Production from domestic ore ..short tons_. 36, 391 33, 555 35,129 37,997 31, 918 33,992 45, 726 42, 005 33, 908 40,189 38, 343 39,026 40,409 Shipments (reported) do 34, 421 30,135 35,048 25, 952 25,098 31,052 Stocks, end of month.. do 122,112 138,134 143, 511 156, 715 164, 636 164, 554 155,631 142,868 131, 353 117, 476 115,134 115,902 117,214 Tin: Consumption of primary tin in manufactures 4,330 4,160 4,550 4,060 4,100 3,930 3,770 3,950 4,350 4,120 4,000 4,370 long tons.. 3,535 3,400 4,330 4,960 4,465 3,775 3,775 4,205 3,745 4,105 4,275 4,420 4,555 Deliveries do... 4,448 3,971 3,555 4,643 3,895 3,685 4,561 3,583 5,097 3,628 5,054 4,266 Imports, bars, blocks, etc do .4623 .4638 .4522 .4618 .3834 .4035 .4337 .4326 .4562 .4127 .4115 Price, wholesale, Straits (N. Y.)~dol. per lb.~ Stocks, end of month: 29,061 35, 245 25,261 30, 606 27,909 31, 097 32, 251 32, 476 31, 539 30,598 30, 554 34, 240 29,125 World, visible supply long tons 4,624 5,060 5,157 4,500 5,232 4,247 4,573 4. 071 3,679 4,447 5,486 5,116 4,458 United States do ' Revised. lAs reported by 21 manufacturers through December 1938; subsequently, 2 of these ceased operations. Forr 11937 and 1938, data are availlable from the reports of the Bureau of the Census for 34 additional establishments and, beginning January 1939, for 57 additional establishments. •Data are for 46 identical manufacturers: beginning January 1838 data are available from the reports of the Bureau of the Census for 26 additional small establishments. JData for Aprii, July, October, and December 1938 are for 5 weeks; other months, 4 weeks. §Revised series. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of this issue. 50 SURVEY OF CURRENT BUSINESS Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey. ary April 1939 1939 1938 February March April May June July I) pcemOctober NovemAugust September ber ber January METALS AND MANUFACTURES—Continued NONFERROUS METALS AND PRODUCTS-Contlnued Metals—Continued Zinc: Ore, Joplln district: Shipments 1 .short tons.. Stocks, end of month J do Price, wnolesale, prime, western (St. L.) dol. per R^Production, slab, at primary smelters short tons,. Retorts in operation, end of mo number.. Shipments, total... short tons-. Domestic _ _do Stocks, refinery, end of mo do 33, 220 8,400 32,994 13, 954 .0450 .0481 .0442 .0414 39,512 41,146 39,263 39, 267 39,723 22,097 39,723 22,097 128, 009 108,138 43, 399 36, 466 33,528 33, 528 118,009 38, 035 34, 691 20,806 20,806 135, 238 2,756 11,935 3,305 10,488 2,734 9,703 970 1,360 1,297 30,749 19,401 34,716 21,949 22,923 23,431 18,079 27, 430 28,065 25,292 38,014 13,149 31, 894 14,895 39,014 18,745 34,827 17,299 42,237 12,251 27,452 12, 301 .0404 .0413 .0475 .0475 .0485 .0501 .0492 .0450 .0450 37, 510 30, 799 30, 362 32, 296 32, 328 36, 740 40,343 44,878 44,142 25, 596 29,767 31, 555 32,427 36, 243 38, 693 39, 404 31, 525 26,437 36, 507 43, 582 43,355 43,693 39,052 42, 526 24, 628 29, 248 33,825 43, 582 43, 355 43, 693 39,052 42, 526 29,248 33, 825 36,507 24,628 141,997 148,120 149, 671 146, 208 130, 743 124,128 120,778 126, 604 128,220 Miscellaneous Products Brass and bronze (ingots and billets): Deliveries short tons,. Orders, unfilled, end of mo do Plumbing fixtures, brass, shipments thous. of pieces._ Radiators, convection type, sales: Heating elements only, without cabinets or grilles.. thous. of sq. ft. heating surf.. Including heating elements, cabinets, and grilles. thous. of sq. ft. heating surf.. Sheets, brass, wholesale price, mill.dol. per lb._ Wire cloth (brass, bronze, and alloy): Orders, new thous. of sq. ft_. Orders, unfilled, end of mo. do Shipments do Stocks, end of month do 4,662 8,161 2,782 8,745 1,323 3,800 15,864 3,936 17,466 5,018 14,237 1,347 1,373 1,538 4,487 16, 267 5,159 17,019 4,759 13,740 1,446 1,359 4,926 9,240 1,218 1,391 26 18 25 26 52 46 60 65 58 110 109 418 .173 173 166 256 .165 259 . 164 309 .161 343 .156 417 .164 565 .168 495 .168 494 .173 570 .175 491 .174 410 .173 352 805 404 504 320 642 302 647 334 660 331 652 272 617 307 673 308 591 328 642 378 623 345 645 363 657 322 611 470 712 407 590 538 712 439 511 497 822 360 752 392 450 505 505 419 780 458 446 3,660 2,079 974 608 3,785 2,071 1,091 623 4,459 2,966 991 502 3,791 2,189 1,170 431 3,759 1,948 1,282 529 3,237 1.484 1,276 477 3,221 1,293 1,285 642 3,055 1,270 977 808 3,436 1,228 984 1,225 2,958 819 911 1,228 3,304 1,112 963 1,228 321 2,429 916 175 1,739 834 611 2,035 316 150 1,929 256 289 1,588 630 156 1,246 144 1,147 243 113 1,017 243 171 1,080 108 179 1,052 207 377 1,171 257 168 1,173 166 90.8 157.1 80.9 114.7 172.3 99.4 79.3 158.2 93.4 90.6 157. 5 91.3 62.2 140.2 78.5 75.3 108 6 105.8 83.4 102.8 89.1 78.7 97.3 84.2 87.9 91.8 93.4 89.7 87.0 94.5 141.9 126.0 102.8 122.5 151. 4 96.3 5,413 1,965 5, 538 23, 770 13 8, 519 2,617 7,867 24, 624 8 7,387 2,686 7,318 25,100 7 9,025 2,979 8,732 26, 866 9,278 2,707 9,550 27, 366 13 11,121 3,139 10, 689 27, 096 18 15, 622 3,388 15,373 26,638 18 26, 403 3,386 26, 405 23, 705 20,346 2,673 21,059 22, 556 11,409 2,564 11,518 21, 421 12 8,435 2,155 8,824 21,326 19 9, 616 3,033 8,738 21,885 16 2,390 3,776 3,522 4,831 5,894 8,825 12, 555 20,126 17,339 7,689 4, 752 3,398 112 24, 666 106 28,254 106 23, 756 138 26, 172 194 30, 662 236 42, 265 304 44,190 326 45,030 342 59,920 228 34, 533 219 40,117 189 34, 909 75.7 107.0 90.3 66.7 702 89.6 120.9 26, 870 827 10, 780 34, 711 1,144 14,641 32, 533 1,064 15,460 31, 832 989 18,099 34, 709 1,057 16,228 32, 426 931 15, 240 43,533 908 17,196 35, 803 928 17, 205 25, 556 997 13, 934 26, 572 893 12,803 24,889 865 10, 402 41,191 464 14, 738 657 5, 657 1,507 9,197 908 10, 156 852 11,771 484 9,077 663 9,198 690 8,702 632 7,752 8,412 649 7,652 740 5,858 11,508 2,008 14. 564 3,443 13,175 3,279 11, 834 3,298 632 11, 822 12,982 3,314 10, 257 2,333 10, 420 2,934 9,632 2,075 12,246 1,729 14, 653 2,367 10,708 1,480 10,297 2,071 1,110 1,302 927 952 1,034 2,006 1,462 1,449 970 1,155 1,204 881 1,064 871 922 1,090 822 1,244 1,078 1,191 1,038 1,077 1,108 3 315 807 C) 283 672 4 283 593 3 327 580 17 271 581 18 365 640 14 337 665 4 340 656 13 363 863 158 359 169 336 144 253 150 289 3 456 720 172 388 4 612 910 193 418 1 381 714 205 332 236 418 190 397 388 478 MACHINERY AND APPARATUS Air-conditioning systems and equipment: Orders, new: Totalf thous. of dol.Air-conditioning group do Fan-groupf do Unit-heater group ___ do Electric overhead cranes: Orders: 201 New do 1,131 Unfilled, end of month do 244 Shipments do Electrical equipment. Exports, machinery. (See Foreign trade.) Foundry equipment: Orders: New 1922-24=» 100... Unfilled, end of month.. do Shipments do Fuel equipment: Oil burners: Orders: 7,981 New ..number.. 3,310 Unfilled, end of month. do 7, 674 Shipments do Stocks, end of month do . . . 22, 850 10 Pulverizers, orders, new... do Mechanical stokers, sales: Classes 1, 2, and 3 do Classes 4 and 5: Number Horsepower Machine tools, orders, new 167.1 av. mo. shipments 1926=100.. Pumps and water systems, domestic, shipments: Pitcher, other hand, and windmill pumps units.. 31, 485 740 Power pumps, horizontal type do 14, 259 Water systems, incl. pumps do Pumps, measuring and dispensing, shipments: Gasoline: Hand-operated units.. Power do Oil, grease, and other: Hand-operated .do Power do Pumps, steam, power, centrifugal, and rotary: Orders, new thous. of dol_. 1,282 Water-softening apparatus, domestic, ship1,082 ments units. _ Woodworking machinery: Orders: Canceled. .-.thous. of doL. New • do... Unfilled, end of month do... Shipments: Quantity. Value.._ number of machines ___thous. of dol— 146 404 118.1 165 394 146.5 • Less than $500. tRevised series. Data for "driving mechanisms for general fan use" have been removed from the fan group beginning January 1936. Revisions not shown here will appear in a subsequent issue. Beginning January 1939, data on air conditioning systems and equipment are available for 230 manufacturers; figures shown here are for 125 of these whose orders in January amounted to 87.1 percent of the total for 230 manufacturers. ^ D t f April, July. October, and December 1938 are for 5 weeks; other months, 4 weeks. 51 SURVEY OF CURRENT BUSINESS April 1939 Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary 1938 February March April May June July 1939 August September October Novem- December ber January METALS AND MANUFACTURES—Continued ELECTRICAL EQUIPMENT Furnaces, electric, industrial, sales: Unit kilowatts Value thous. of dol._ Electrical goods, new orders (quarterly) thous of dol Laminated products, shipments do Motors (1-200 hp.): Billings (shipments): A. C do D. C__ do Orders, new: A. C _ do D. C do Power cable, paper insulated, shipments: Unit _._ thous. of ft 812 353 Value thous. of d o L . 312 Power switching equipment, new orders: Indoor dollars Outdoor _ do Ranges, billed sales . _ thous. of dol 2,103 Refrigerators, household, sales n u m b e r . . «197, 648 Vacuum cleaners, shipments: Floor do 87,140 Hand-type. . do 25,182 Vulcanized fiber: Consumption of fiber paper thous. of l b _ . 1, 561 Shipmentsf _ thous. of dol__ 470 1,118 85 2,320 144 1,507 127 612 30 988 74 488 35 1,914 144 829 58 1,324 78 1,176 67 2,356 110 3,147 195 594 154 154 626 579 682 157, 315 587 521 635 158, 959 800 838 851 160,374 876 838 1,722 474 2,041 483 1,864 458 1,704 438 1,778 476 1, 750 296 1,738 458 1,742 325 1,538 300 1,506 305 1,713 446 1,436 330 1,755 344 2,011 478 1,811 372 1,710 368 1,927 549 1,539 453 1,695 358 1,733 472 1,641 347 1,605 651 1,733 659 1,574 540 501 515 781 756 560 629 497 630 528 765 515 565 660 657 763 764 587 555 603 588 476 502 271 273 139, 523 158, 552 1,692 145. 094 81,964 141, 620 » 5, 420 174. 332 77,493 274,115 1,999 212. 884 93,838 261,799 1,825 179,189 68, 418 213,144 1,610 104, 796 195, 487 221, 862 1,476 88,772 118,938 190, 306 1,367 92, 956 121, 481 120, 784 1,272 62,148 55,331 128, 450 1,257 34,345 55, 627 124,927 1,047 32,103 77,867 22,545 102, 954 32, 589 84,926 27,174 74,238 20,428 68. 975 16,943 55,022 13,633 73,309 17, 248 79,180 22,834 95, 684 24,121 89, 772 29, 734 95, 521 30, 632 78,753 23, 846 1,282 277 1,486 304 1,470 299 1,328 287 1,152 286 1,073 306 1,450 350 1,189 380 1,495 372 1,565 422 1,385 383 1,410 458 428, 283 450, 541 503,181 495,097 525,085 51,124 91, 720 138,840 109, 799 1,006 2,230 47, 599 ' 150,108 PAPER AND PRINTING WOOD PULP Consumption and shipments:^ Total, all grades short tons. Chemical: 8ulphate do Sulphite, total do.... Bleached do Unbleached do Soda __ do Groundwood do Imports: Chemicai§ d o . . . 103,504 7,312 Ground wood § do Production: Total, all grades do.... Chemical: Sulphate do Sulphite, total do.... Bleached do Unbleached .do Soda do Ground wood _._ do Stocks, end of month: Total, all grades do Chemical: Sulphate do Sulphite, total. do.... Bleached do Unbleached do Soda do... Groundwood do Price, sulphite unbleached dol. per 100 lb_ 2.00 522, 863 539, 061 416, 683 464,306 154,086 133, 299 86, 301 46,998 28,388 100,910 177, 707 169, 264 173,986 175, 258 200, 282 216, 739 211, 591 227, 063 214, 796 211,884 140, 243 129,487 126,089 125,313 125, 749 144, 320 146,614 151,056 151, 635 174,546 81,148 75, 252 75, 240 73,113 86. 403 88,885 91, 575 90,486 115,442 88,074 52,636 59,104 50,073 61,149 48, 339 50.837 57, 917 57, 729 59,481 52,169 30, 370 27 425 26, 630 25, 546 30, 617 31,118 31, 505 32, 575 31, 996 33,985 112, 371 99,147 103 961 101,082 98,964 111,505 105, 774 115,461 123, 857 120,635 118, 641 12, 598 428,893 428, 268 431,461 114,881 130,181 14,377 121,919 12,544 478, 380 437, 603 438,157 422,193 429, 651 485, 830 475,356 83,834 10,614 65,992 12,656 159,990 142, 407 142,188 14, 957 20, 576 15,175 166, 091 17,491 171, 520 150,510 17, 366 20,076 522, 825 533, 423 522, 220 157, 765 175, 908 167,113 177,140 176, 254 200,930 217,004 212, 664 231, 804 217,896 212, 884 135,475 148, 596 128, 622 123,874 123, 389 115,733 138, 457 139, 022 154,210 157,724 152, 498 78, 826 82,373 94, 729 93, 783 95, 845 85,253 93, 352 80, 283 78, 677 74,350 69,146 50,222 55, 244 48, 339 45,197 49, 039 46, 587 59, 631 56, 649 59, 481 63, 942 56, 653 28, 290 34,166 31,136 26, 965 26, 695 24, 701 30, 718 30, 995 31, 625 32, 632 31, 917 99, 651 92, 675 105,186 125,171 124,921 107, 363 119,710 110, 732 110,178 95, 855 88.187 25, 701 125,132 81,207 43,925 5,041 69,893 2.88 255. 874 249, 784 228, 794 211,443 191,702 200,002 183,161 26,549 23,902 26, 814 27, 887 32, 628 35, 728 21, 751 24,905 25,901 133, 485 132, 620 130,405 128, 481 118,465 112, 602 105,010 108,164 114, 253 76, 611 70,099 73, 253 76, 549 86, 485 85, 620 89,045 88,155 84.188 41, 360 40, 326 34, 277 35, 991 34, 911 34, 911 37, 704 47.000 47,000 4,750 4, 905 5,530 5,595 4.851 4.728 5,223 5,989 4,848 67,176 54, 077 43,802 45,116 95,034 89, 807 79,030 77, 232 88,817 2.29 2.07 2.53 2.38 2.20 2.00 2.60 2.02 2.79 36, 728 92, 205 56, 952 35, 253 4, 826 49, 402 2. 00 2.00 225, 767 239, 842 249,177 189,442 PAPER Total paper: Paper, incl. newsprint and paperboard: Production short tons.. 728, 269 853,128 769, 308 743, 921 806, 949 790, 379 954,659 Paper, exc!. newsprint and paperboard: 383, 488 461,497 399,846 388, 466 441,468 443, 677 521,567 Orders, new short tons.. 384, 664 466, 712 407, 399 389, 346 444, 607 420, 758 528,246 Production do 386, 775 462, 874 402. 568 378. 438 443. 796 428,130 529,198 Shipments do Book paper: Coatftd paper: 15, 430 1 16, 295 14, 227 ; 13, 355 ' 13,013 ' 14, 467 ' 16,608 17,911 Orders, new do ' 2, 899 ' 2,921 2,493 2,194 ' 2. 559 ' 2, 571 ' 3, 076 Orders, unfilled, end of month do 3,552 14, 544 16, 774 15,031 r 13, 766 r 13,718 ' 14, 730 ' 16, 836 Production do 17,796 1 ' 55. 1 ' 58. 5 57.4 ' 52. 1 '48.9 Percent of potential capacity 71.6 ' 61.2 '47.6 15, 497 16, 656 15, 629 ' 14, 264 ' 12, 751 ' 14, 526 ' 16,138 Shipments short tons.. 17, 642 13, 498 12, 708 12,186 r 11, 688 ' 12, 655 ' 12, 830 ' 13, 528 Stocks, end of month ___do___. 12, 472 Uncoated paper: 81, 407 94. 300 ' 78, 577 ' 75, 323 ' 72, 837 ' 80,101 ' 88, 265 88, 218 Orders, new do 32, 771 35, 156 ' 31, 440 ' 30, 976 ' 30, 888 ' 34, 573 ' 34, 542 36, 931 Orders, unfilled, end of month do Price, wholesale, " B " grade, English fin6.00 5.45 5.45 6.00 6.00 6.00 6.00 5.45 ish, white, f. o. b. mills..dol. per 100 lb._ 78, 869 94, 356 ' 87, 997 ' 79,152 ' 75, 038 ' 74, 919 '91,791 90,589 Production^ short tons, ' 68. 1 '71.3 '66.7 Percent of potential capacity ' 73. 4 ' 63. 6 ' 60. 9 '58.9 81.1 Shipments short tons.. 89,377 79. 263 93, 624 ' 83. 908 ' 76, 574 ' 73, 939 ' 76, 558 ' 89, 862 Stocks, end of month _ do 107, 602 99, 641 • 99, 558 103, 833 106, 345 107, 436 107, 360 110,267 Fine paper: 39,103 Orders, new do 28, 877 36,133 29, 553 27, 532 31,983 30,904 9,927 11,717 Orders, unfilled, end of month do 8,408 8,113 9,787 9,561 9,315 40,691 Production do 29,913 34,102 28,069 29,341 36, 861 30,355 29,603 39, 418 Shipments do 28,728 32,935 31,024 38, 147 29,843 72, 813 Stocks, end of month do 73,272 71,383 71, 723 70, 480 70, 664 72,449 c 'Revised. Estimated. a Cumulative for the 3 months January-March, and includes figures for 2 companies not reporting prior to March. fRevised series. Data revised beginning 1934. Revisions not shown on p. 51 of the January 1939 Survey will appear in • Comprises pulp used in the producing mills and shipments to the market. §Revised series. Data revised for 1937: see table 20, p. 15 of this issue. r 874,263 926,616 955, 326 '848,410 841,144 467,455 454,897 456,235 479,970 512, 575 435, 851 482, 812 532,491 443,374 475,850 530,549 439, 917 434,753 440. 486 356, 269 ' 17, 687 ' 3,160 ' 17, 441 ' 64. 7 ' 18, 194 ' 13, 691 ' 15, 769 ' 2, 714 ' 17, 096 ' 57.7 ' 17, 563 ' 12,776 ' 16,961 3,071 16, 845 63.3 17,319 12, 076 ' 91, 466 ' 89, 878 ' 87, 923 ' 86. 840 ' 36,141 ' 35,123 ' 33,730 ' 34, 958 94,160 40, 314 5.45 5.45 5.45 5.45 ' 88, 518 ' 92, 758 ' 92,187 ' 85, 779 ' 72.0 '70.4 ' 69. 6 ' 76.2 ' 90.435 ' 92, 345 ' 89, 321 ' 86, 076 106, 230 107, 281 109, 975 109, 604 5.45 89, 642 72.5 91, 667 107, 518 32, 522 ' 34, 268 rr 48, 225 32, 750 11,157 11, 587 16,174 ' 12, 692 32, 457 36, 551 ' 45, 149 37,813 33, 565 34, 677 rr 46, 526 ' 35,158 71, 948 ' 74, 378 71,169 73,166 34,808 11,090 36, 953 36, 201 66, 615 'r 16, 029 2, 767 ' 17, 445 ' 61.0 ' 16, 883 ' 14,144 ' 16, 612 3,410 ' 17,057 ' 60. 8 ' 16, 730 ' 14,018 a subsequent issue. 52 Monthly statistics through December 1937, together with explanatory notes and references to the sources of the data may be found in the 1938 Supplement to the Survey SURVEY OF CURRENT BUSINESS 1938 1939 February April 1939 February March April May June July 1939 DecemAugust SeptemOctober November ber ber January PAPER AND PRINTING—Continued PAPEE—Continued Wrapping paper: Orders, new.. short tons.. Orders, unfilled, end of mo _ do Production do Shipments.. do Stocks, end of month do Newsprint: Canada: Exports short tons.. Production __ do Shipments from mills.__ do Stocks, at mills, end of mo do United States: Consumption by publishers do Import?!-.-do— Price, wholesale, rolls, contract, destination (N. Y. basis) dol. per short tonProduction short tons. Shipments from mills .do Stocks, end of month: At mills do... At publishersf. do... In transit to publishers! _ do— Paperboard: Consumption, waste paper do— Orders, new do— Orders, unfilled, end of mo. ..do... Production do— Percent of capacity Stocks of waste paper, end of month: At mills ._ ..short tons. PAPER PRODUCTS Coated abrasive paper and cloth: Shipments — reams. Paperboard shipping boxes: Shipments, total mil. of sq. ft. Corrugated do... Solid fiber do.._ PRINTING Book publication, total ..no. of editions.. New books do New editions do... Continuous form stationery thous. ofsets. Operations (productive activity) 1923=100. Sales books, new orders thous. of books. 159,520 47,458 159, 596 161, 506 122, 613 129,967 47,468 131,176 132,176 122,098 131, 532 51,479 131,683 129,019 124, 856 175, 729 64,100 164,305 164,498 126,094 162,193 70, 610 154,273 157,102 125,022 191, 380 67, 336 195, 253 195,822 122,122 152,437 200, 631 178,236 190,363 139, 734 202, 601 162,906 146, 089 203, 729 224, 604 182, 687 188,006 186, 727 200, 794 214,182 174,618 209,069 207,678 193, 288 189,008 194,521 201, 694 208, 476 182,226 200, 837 202, 546 205,490 179,282 219,611 220, 303 204, 668 194,917 153,346 144, 308 15.6,475 123,289 174,971 152, 507 173,638 195, 750 176,600 210,521 159,199 172,525 151, 875 151,324 162,457 175,441 190, 344 200,144 50.00 70, 868 71, 926 50.00 61, 357 62,480 50.00 67, 864 66,138 50.00 58, 836 57, 318 50.00 68,001 66,197 50.00 65, 382 66,204 21, 822 251, 071 13, 449 24, 801 463, 302 ' 38, 937 26, 527 405, 491 ' 32, 238 28,015 378,217 ' 29, 206 29, 819 342,015 ' 34, 912 28,997 324,098 ' 24, 624 247, 710 338,030 112,801 338, 803 67.8 215,047 273,651 72,832 282, 248 59.8 243, 571 317, 472 74,137 318, 552 224, 715 302,921 75, 296 303,073 58.7 210,117 281,401 76, 701 286, 574 57.4 22, 557 23,987 17.966 18, 590 20, 702 316, 635 314,586 303, 067 288,408 291,477 ' 26, 262 ' 34, 696 ' 32, 653 ' 47, 570 ' 44, 628 218,652 221, 218 264, 418 254, 024 267,193 243, 924 298,845 322,948 361,323 367,200 370, 453 327,168 76, 693 93,637 96, 635 109,288 107, 235 89, 586 296,960 306, 343 358,977 351,051 370, 977 344, 445 66.3 55.0 68.5 72.4 59.7 67.3 262, 344 325,166 333,218 319, 816 318, 698 312,684 300,917 296,070 284,239 77, 477 53, 389 67, 764 68,125 62,530 58,896 61,220 71,085 82,091 79,007 72,029 1,909 1,768 141 2,272 2,117 156 2,004 1,870 134 2,041 1,891 150 2,244 2,075 169 2,193 1,982 211 2,708 2,466 243 2,589 2,372 217 2,639 2,430 209 2,547 2,385 163 895 751 144 90,496 93 13,742 960 841 119 103, 696 92 14,972 1,036 884 152 102, 684 88 14, 221 778 652 126 104, 537 87 16,220 697 583 114 102,344 81 16,285 829 686 143 78, 393 78 14,578 787 635 152 89,385 77 16,995 107, 557 "" 16," 286' 50.00 63, 278 69, 718 50.00 67, 436 66, 006 149,372 159,243 66,278 66,181 152,063 161,933 152,281 '161.271 122,107 123,360 189,530 69,322 191,105 189,695 124,683 122,169 48,614 125,371 125, 569 123, 581 195, 586 231,940 230,346 196, 511 50.00 68, 315 74,336 248,068 254.872 255,100 196,283 245,813 245, 295 264, 421 177,157 142, 220 68,956 151, 076 149, 033 126, 365 150, 618 71, 531 151, 525 148, 977 126, 726 211,452 209, 753 225, 472 161, 438 193,624 208, 382 201, 852 167, 968 r 187,450 176,322 177,134 160,916 230, 278 229, 284 209, 782 183, 050 50.00 72,827 72,203 50.00 78,390 76, 278 50.00 75, 855 77, 974 50. 00 77, 264 72, 967 18, 583 22, 880 284, 661 267, 375 30, 615 36, 872 r 221,768 334,711 94,411 329,181 60.1 233,311 342, 408 109,099 323, 394 61.2 275, 746 274, 951 290, 648 282, 095 81,867 2,222 2,075 146 2,239 2,081 158 900 659 1,118 800 1,196 790 602 961 720 1,074 110 57 157 80 122 119,903 111,211 125,811 113,132 116,140 84 89 87 81 80 15, 522 16, 280 16, 256 14, 788 15, 998 RUBBER AND RUBBER PRODUCTS CRUDE AND SCRAP RUBBER Crude: Consumption, total long tons. For tires and tubes ..do..Imports, total, including latex§ do... Price, smoked sheets (N. Y.) dol. per lb_ Shipments, world long tons. Stocks, world, end of month do... Afloat, total do... For United States do... London and Liverpool do British Malaya do... United States do... Reclaimed rubber: Consumption do... Production do Stocks, end of month do... Scrap rubber: Consumption by reclaimers (quar.) do TIRES AND TUBES Pneumatic casings:! Production thousandsShipments, total do Stocks, end of month do Inner tubes :f Production do Shipments, total do Stocks, end of month ...do Raw material consumed: Crude rubber. (See Crude rubber.) Fabrics (quarterly) thous. of lb_ RUBBER AND CANVAS FOOTWEAR Production, total thous. of pairs. Shipments, total do Stocks, total, end of month do... 42,365 30, 826 .159 77,000 504,837 106,000 55, 814 75,096 87,968 235, 773 12, 626 13,093 21, 390 30, 487 27,984 28,947 30,629 32,209 55,614 58,993 41,064 42, 571 31,932 28,108 26, 677 22, 405 .136 .126 .154 .116 .118 .146 79,000 81,000 81,000 86,000 68,000 71,000 569, 242 591,968 593, 340 577,063 583,952 593, 481 92, 000 105,000 108,000 109,000 114,000 94,000 41,882 39,071 32,079 40,400 32,859 47,459 76,617 82, 754 87, 215 92, 312 95,252 71,516 94,028 97,617 94,250 99,287 85, 636 295,476 307,064 310,950 309, 812 305, 612 295, 612 7,238 6,012 26, 431 8,471 6,875 25, 432 7,480 6,597 23, 339 8,009 6,866 22, 275 8,274 7,584 21,040 8,273 7,109 18,832 40, 333 46,169 31, 674 .166 74, 000 580, 489 101, 000 47, 772 99,614 90,939 37. 823 79, 928 35,066 .161 70,000 568,902 96,000 48, 927 98,140 89, 213 285, 549 34,325 .169 75, 000 560.948 99,000 51,062 93, 272 89, 630 279, 046 32,924 .163 68,000 535,048 92,000 51,114 90,073 87, 531 265,444 45,315 92, 021 37,294 .163 58,000 508, 532 80, 000 45,105 86, 853 84,499 257,180 10, 732 10,472 17,892 11,281 12,016 18,127 11,803 13, 558 19, 090 12,668 13,995 19,823 12, 269 14,712 21, 769 38,170 18,923 17, 218 46, 234 36, 857 .158 86, 000 523, 345 105, 000 48, 210 80, 643 90,142 247, 560 ( 13, 0C0 13, 763 21,960 36, 218 25, 044 4,344 3,739 9,573 r 2,156 ' 2. 680 ' 2, 660 ' 2, 663 ' 3, 036 ' 3, 287 ' 2. 291 r 2, 795 ' 3,143 ' 3, 291 ' 3, 929 ' 3, 870 10, 559 • 10, 521 • 10,141 ' 9, 521 ' 8, 470 ' 8, 041 ' 4, 038 ' 3, 991 ' 8, 217 '3.916 ' 3, 888 ' 8, 022 r 4, r 183 4 , 126 ' 8 , 237 ' 4,139 r 4, 405 ' 7, 924 ' 4, 729 '4,154 ' 8, 451 3,681 3,335 8,415 '2.216 r 2, 582 ' 2, 258 r 2, 325 ' 2, 797 ' 2, 936 r 2, 216 ' 2, 645 ' 2, 860 ' 2, 974 r 3, 730 ' 3 , 5 1 9 10, 579 • 10, 547 '9,917 ' 9, 265 ' 8, 337 ' 7, 723 ' 4,026 ' 3. 744 ' 8, 029 ' 3. 832 ' 3, 980 r 7, 859 r 3 , 980 ' 4 , 101 r 7, 746 ' 4, 029 '4,138 7, 665 '4,351 '3,859 '8,166 4,098 ' 3. 936 5,067 4,991 16,321 5,513 6,139 15, 695 5, 523 5,035 16,183 4,807 4,778 16,157 37,064 35,132 4,953 4,629 16,582 3,639 3,212 20, 296 4,453 4,197 20,558 3,566 3,837 20,400 3,811 3,648 20, 563 3,970 3,742 20,791 r 4. 581 4,163 8, 932 8,069 9, 441 2,719 4,041 19,469 4,254 5,803 17,897 4, 709 6,360 16, 246 '"Revised. § Revised series. Data revised for 1937; see table 20, p. 15 of this issue. fRevised series. Data for pneumatic casings and inner tubes revised for years 1936,1937, and 1938. Revisions not shown above will appear in a subsequent issue. Stocks of newsprint, at publishers and in transit to publishers, revised for 1937 and 1938. Revisions not shown above will appear in a subsequent issue. April 1939 53 SURVEY OF CURRENT BUSINESS Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary 1939 1938 February March April May June July DeemOctober NovemAugust September ber ber January STONE, CLAY, AND GLASS PRODUCTS PORTLAND CEMENT Price, wholesale, composite dol. per bbl_. Production thous. of bbL. Percent of capacity .--thous. of bblShipments -_ _ do Stocks, finished, end of month Stocks, clinker, end of month do— 1.667 5,506 27.9 5,043 24,080 5,989 1.667 3,916 19.8 4,575 24,361 6,732 1.667 5,879 26.9 7,259 22,979 6,623 1.667 7,983 37.7 8,691 22,262 6,497 1.667 10,361 47.4 9,752 22,875 6,326 1.667 10, 535 49.8 10,943 22,467 6,218 1.667 10,968 50.2 10,164 23, 286 6,089 1.667 11,007 50.4 11,823 22, 534 5,902 1.667 10, 559 49.9 11,716 21, 374 5,506 1.667 11, 556 52.9 12, 357 20, 569 4,927 1.667 10,184 48.2 8,573 22,179 4,963 1.667 8,066 36.9 6,281 23, 954 5,282 1.667 5, 301 24.3 5,640 r 23,618 ' 5, 559 728 673 321 651 607 290 802 787 268 577 709 252 710 668 250 788 784 240 778 751 243 1,063 1,015 200 862 841 215 1,119 1,130 193 1,189 1,070 195 953 891 219 831 795 255 12.341 12. 074 74,978 486, 950 12. 047 114,909 445, 379 12. 050 129,509 419, 200 12. 007 130,728 428,843 11. 927 145,476 431,900 11. 972 129, 338 430,168 11. 902 148,809 428, 780 11.895 142,900 454, 393 11. 925 166,471 482,830 12. 039 12. 046 151,568 ' 133,184 482,032 ' 478, 260 12. 360 103, 933 473, 658 23, 327 298,041 38,801 288, 644 45,902 281, 651 49,155 277,009 50,069 271,477 46,512 271, 488 51,915 267,844 47,828 268, 583 52, 402 267,016 45, 701 r 37, 307 272,200 r 283,017 34, 240 290,440 2,087 56,433 3,811 55,484 5,243 55,170 7,900 54,274 9,079 56,849 11,418 55,689 10, 778 55,423 8,046 54, 396 9,591 52,999 7,191 48,127 4,254 48, 552 35, 631 355, 270 59,035 345, 214 61, 312 332,721 62,296 333,979 64, 631 344, 368 55,489 350, 782 62,186 349,271 58,998 345,089 62,410 333,782 54,762 r 46, 815 335, 707 r 347,147 50,044 342, 365 3,389 55.7 3,323 8,192 2,995 54.3 2,893 9,318 3,637 58.6 3,616 9,265 3,647 61.0 3,645 9,215 3,837 66.8 3,902 9,088 3,583 60.0 3,858 8,750 3,506 61.0 3,847 8,354 4,031 65.0 4,178 8,149 3,653 63.6 3,971 7,641 3,866 64.7 3,954 7,493 3 709 64.6 3 491 7, 643 3,515 58.8 3,042 8,029 3,589 55.8 3,473 8,179 357 185 107 65 10,165 372 151 133 88 2,664 437 185 147 105 3,802 421 165 142 113 3,820 391 160 129 103 3,866 383 167 115 102 5,956 357 154 130 72 5,506 421 200 141 80 7,676 507 266 148 93 8,873 551 285 153 113 12,869 532 288 133 111 12,883 443 227 125 91 12, 691 443 217 130 97 12, 209 809 49.8 537 '39.5 528 32.5 341 21.0 360 22.2 344 21.3 330 20.3 434 26.7 522 32.1 641 39.5 883 54.4 1,003 61.7 943 58.1 CLAY PRODUCTS Bathroom accessories: Production thons. of nieces.. do Shipments Stocks, end of month ..do-. Common brick: Price, wholesale, composite, f. o. b. plant dol. per thous-thous. of brick. Shipments Stocks end of month do Face brick: do Shipments Stocks, end" of month Vitrified paving brick: do Shipments do Stocks, end of month Hollow building tile: short tons.Shipments. Stocks, end of month 7.206 51, 323 GLASS PRODUCTS Glass containers: Production thons. of erross Percent of capacity . thous. of gross Shipments do Stocks, end of month Illuminating glassware: Shipments, total thous. of dol.. Residential do do Commercial do Miscellaneous Plate glass, polished, production.thous. of sq. ft.. Window glass: Production - thons. of boxes Percent of capacity GYPSUM AND PRODUCTS Crude: Imports -short tons do Production Calcined production do Gypsum products sold or used • Uncalcined _ _ __1 doCalcined: Lath _thous. of sq. ft Wallboard do short tons.. Keene's cement All building plasters do ..do . For manufacturing uses.. -thous. of sq. ft.. Tile 6,348 453,420 447,049 222, 282 727, 777 588,788 313, 120 806 957 650,804 108,304 212,716 228,375 : 137,812 94,261 6,921 294,175 31,510 4,434 200,444 100 704 5,126 390,059 25,246 5,704 251,764 89 994 6,591 432,779 34, 523 4,991 247 673 683 127 534, 415 : : 192, 931 214 151 89 678 4,884 333, 730 36 517 4 885 TEXTILE PRODUCTS CLOTHING Hosiery: Production thous. of dozen pairs. Shipments do Stocks, end of month do... 9,481 10,109 21,499 10,995 12,077 20,574 9,840 10, 593 19,919 10,038 10,096 19,995 10, 368 9,660 20, 827 8,848 8,538 21,289 11,304 11,712 21,033 11,146 12,440 19,891 11,848 11,957 19, 933 COTTON Consumption bales. - 562, 293 426, ?66 512, 626 413.169 426,149 443,043 448,453 561, 406 534, 037 542,778 Exports (excluding linters)§ thous. of bales.. 264 426 176 399 193 377 196 201 465 389 Imports (excluding linters)§ do 14 20 15 19 19 25 18 11 11 Prices: .082 Received by farmers dol. per lb.. .084 .084 .084 .081 .084 .081 .082 .085 Wholesale, middling (New York) do.-_ .090 .084 .089 .084 .084 .089 .081 Production: Ginnings, (running bales)* thous. of bales._ 11,621 18, 252 158 1,332 10,125 6,578 Crop estimate, equivalent 5uO-lb. bales..do Receipts into sight do 670 255 726 497 213 211 674 2,953 2,500 Stocks, end of month: 15, 628 Domestic total. _ .do 12, 710 13, 283 11,633 12,187 11,138 10. 908 10,878 14,121 16,820 Mills -do— 1,559 1,768 1,808 1,581 1,412 1,700 1,263 1,053 1,107 1,507 Warehouses — do 14,069 10,942 9,726 11,475 10,052 10,487 9,646 9,826 13,013 15,313 World visible supply, total do 9,247 8,142 9,025 9,183 8,490 8,796 7,893 7,643 8,726 9,802 American cotton do 6,945 5,772 6,881 7,271 6,071 6,509 5,491 5,479 7,750 ' Revised. ° Total crop. 'Total ginnings to end of month indicated; February 1939 figure is the total crop for 1938. §Revised series. Data revised for 1937, see tables 19 and 20, pp. 14 and 15 of this issue. 11,731 11,973 19,843 10,863 10, 641 20,217 11,235 10,211 21, 242 596,289 4S1 14 565, 307 361 11 591,991 290 12 085 .091 .083 11,414 > 11,942 864 11, 558 1,712 17, 292 1,714 15, 578 9, 757 7, 790 17,028 1,697 15, 331 9,652 7, 478 16,409 1,627 14,782 9,361 7,050 417 54 SURVEY OF CUREEN TBUSINESS Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary April 1939 1939 1938 February March April May June July DecemAugust SeptemOctober November ber ber January TEXTILE PRODUCTS—Continued COTTON MANUFACTURES Cotton cloth: Exports§. thous. of sq. yd.. Imports§ do— Prices, wholesale: Print cloth, 64 x 60 dol. per yd.. Sheeting, brown, 4 x 4 do— Finished cotton cloth: J Production: Bleached, plain thous. of yd-. Dyed, colors do— Dyed, black do— Printed ...do.... Spindle activity: Active spindles thousands.. Active spindle hrs., total mil. of hrs. Average per spindle in place hours. Operations! pet. of capacity.. Cotton yarn: Prices, wholesale: 22/1, cones (Boston) dol. per lb.. 40/s, southern, spinning do..-. RAYON AND SILK Rayon: Deliveries, unadjusted!— 1923-25=100-. Imports! --__.thous. of lb,. Price, wholesale, 150 denier, first quality (N. Y.) dol. per lb_. Stocks, end of m o . ' . . . mil. of lb_. Silk: Deliveries (consumption) bales.. Imports, raw -thous. of lb.. Price, wholesale, raw, Japanese, 13-15 (N. Y.) dol. perlb.. Stocks, end of month: Total visible supply bales,. United States (warehouses) ..do— 27,394 9,210 23,882 4,667 33,613 4,700 27,793 3,923 24,713 4,092 20,444 4,503 20,097 4,301 21,154 5,089 24, 493 4,981 26, 781 5,818 25, 978 4,912 28, 271 20,468 8,534 .042 .050 .048 .055 .047 .055 .046 .054 .045 .053 .051 .047 .055 .044 .054 .043 .053 .045 .054 .045 .054 .043 .051 .043 .050 116,995 75, 223 3,895 91,892 127,643 89,182 4,183 104,594 113, 340 86,273 4,047 92,795 109,748 79,044 3,833 82,876 102,327 68,513 3,434 78,538 110, 568 74, 656 5,022 80,588 130, 498 88,362 6,741 96, 417 128, 642 88, 619 5,877 89, 396 134, 929 95, 372 6,379 102,278 134, 661 100, 200 6,617 109,136 141, 266 102, 504 6,369 118,926 127,165 91,115 4,909 107,960 22, 525 7,171 277 87.8 22, 347 5,587 210 22, 291 6,508 245 66.6 21, 773 5,264 198 59.5 21, 342 5,459 206 59.4 21,142 5,668 214 60.8 21,915 5,925 225 70.2 22,153 7,375 280 76.2 22,189 6,613 252 76.1 22,114 7,118 273 81.9 22,449 7,575 291 83.6 22,445 7,187 211 82.3 22, 440 7,641 295 85.7 .224 .335 .235 .369 .234 .230 .369 .225 .369 .219 .348 .230 .223 .335 .223 .335 .230 .337 .240 .341 .225 .338 .220 .335 739 3,395 483 462 1,088 448 1,825 445 1,435 477 1,633 877 2,074 929 4,409 910 3,145 704 3,147 595 2,031 691 1,781 '745 2,877 .51 39.5 .54 61.1 .54 64.4 .54 65.9 .52 67.8 .49 67.0 .49 53.6 .51 41.1 .51 34.6 .51 36.1 .51 40.0 .51 39.5 .51 '39.4 33, 219 3,040 30,260 3,359 34,884 4,182 33,381 4,833 28,687 3,433 31,492 5,271 32, 593 4,073 38,504 4,975 38,844 5,524 35, 631 5,417 41, 599 6,437 35, 204 5,542 40,816 5,039 1.634 1.619 L600 1.609 'L834 r 134,426 36,326 130,955 41,455 135,616 37,016 133,157 44,457 138,105 42,305 149, 77! 53, 27! 124,354 48, 554 98,078 38,178 136,934 43,834 1.729 «• 1.759 1.854 1.801 135,847 39, 747 142,511 40, 711 151, 311 43,811 150, 718 46,218 1.900 WOOL Imports (unmanufactured)§ thous. of lb_- 17, 274 Consumption (scoured basis): 1 Apparel class d o — 22,449 Carpet class --do— 8,776 Operations, machinery activity (weekly average): 1 Looms: Woolen and worsted: 1,942 Broad thous. of active hours.. 78 Narrow do— 209 Carpet and rug do— Spinning spindles: Woolen... do_— 73.130 Worsted do.... 82. 226 137 Worsted combs do— Prices, wholesale: .73 Raw, territory, fine, scoured. dol. per lb.. .32 Raw, Ohio and Penn. fleeces do— Suiting, unfinished worsted, 13 oz. (at factory) dol. per yd-. 1.646 Women's dress goods, French serge, 54" (at 1.015 mill) dol. per yd-. Worsted yarn, 32's, crossbred stock (Boston) 1.13 dol. per lb_. 11, 820 Receipts at Boston, total thous. of lb_ 6,660 Domestic do— 5,160 Foreign --do— Stocks, scoured basis, end of quarter, total thous. of lb. Woolen wools, total do— Domestic do— Foreign.. do— Worsted wools, total do— Domestic ...do... Foreign.. do— 3,675 3,621 3,660 4,029 5,847 7,104 9,727 12,281 15, 373 16, 302 18,162 21, 938 12,090 3,982 10,412 4,328 12,623 3,329 12,944 3,036 15,467 3,313 22,746 4,996 23,136 6,025 19,619 24, 619 23, 512 7,716 29, 688 9,501 25, 941 9,784 1,224 80 122 945 79 128 693 52 123 876 64 94 1,099 54 95 1,174 68 106 1.499 80 143 1,339 77 164 1,335 86 167 1,529 89 171 1,759 81 177 1,924 79 186 56, 245 40,012 67 41,824 29,763 56 33,211 33,505 64 39,901 45, 718 84 48,020 55,134 101 67,438 55, 663 119 74,710 69, 644 145 66,022 62,851 117 66,840 70, 205 120 71,110 85, 954 146 73,277 97,019 149 73, 480 87. 770 129 .26 .26 .65 .26 .29 .71 .80 .70 .29 .71 .31 .74 .32 .73 .31 .73 .31 .70 .27 1.832 1.772 1.535 1.535 1.535 L535 1.535 1.535 1.535 1.624 1.634 1.634 1.139 1.139 1.114 1.040 1.040 1.040 1.040 1.040 1.040 1.040 1.015 1.015 1.08 6,529 5,504 1,025 1.05 6,798 6,159 639 1.05 14,821 14,090 730 1.05 40,900 40,198 702 1.01 44,989 44,181 1.03 65,322 64, 582 740 1.05 44,506 42,069 2,437 1.05 16,047 10,021 6,026 1.06 22, 222 18,487 3,735 1.12 24, 341 21, 239 3,103 1.11 13, 678 9,009 4,670 1.10 15, 539 5,374 10,164 109,487 48,064 38, 823 9,241 61, 423 46,825 14, 598 139, 260 46, 509 37,830 8,679 92, 751 79,520 13,231 147, 597 48, 276 40, 224 8,052 99, 321 84, 383 14,938 115,389 46, 494 36,888 9,606 68, 895 52, 604 16, 291 MISCELLANEOUS PRODUCTS Buttons, fresh-water pearl: Production pet. of capacityStocks, end of month thous. of gross. Fur, sales by d e a l e r s . . . thous. of dol. Pyroxylin-coated textiles (artificial leather) :f Orders, unfilled, end of mo.-thous. linear y d . Pyroxylin spread thous. of lb... Shipments, billed thous. linear yd_. p Revised. 39.2 6,507 1, 613 27.2 7,287 2,822 27.3 7,226 2,674 28.4 7,216 2,089 24.7 7,123 2,316 27.0 7,073 3,314 22.4 6,853 4,839 ' 1, 981 ' 4,118 r 4,026 ' 1,878 ' 4,831 r 4,688 r 1, 593 r 4, 318 ' 4, 256 r 1,564 T 4,129 r 4,087 '1,711 r 3,341 r 3, 464 r 1,835 r 3,882 ' 3, 785 32.2 6,910 4,631 ' 1,890 4, 849 ' 4, 429 T 41.3 7,037 1,465 37.8 7,155 1,515 2.196 ' 4. 998 r 4, 389 r 1, 908 «• 4,922 ' 4, 516 r 36.3 7,229 1,242 r r r 1,917 4, 289 4,168 30.4 7,188 ' 1, 230 23.0 6,480 ' 1, 676 ' 2,145 4, 692 r 4, 551 2,451 5,270 4,785 r • N e w series; d a t a on r a y o n y a r n stocks, p o u n d a g e basis, have been s u b s t i t u t e d for t h e series formerly shown, which was on basis of n u m b e r of m o n t h s ' s u p p l y . Figures beginning January 1930 not shown on p. 94 of the February 1939 issue will appear in a subsequent issue of the Survey. f Revised data. Cotton spindle activity revised beginning August 1933; see table 18, p. 18, of the March 1939 issue. Data on rayon deliveries revised beginning January 1936; revisions not given on p. 94 of the February 1939 Survey will appear in a subsequent issue. Data on pyroxylin-coated textiles revised beginning January 1938 to include figures for 2 small establishments not previously reporting and to exclude those of one establishment not currently reporting; data for January 1938 not shown above are: Unfilled orders, 1,931,000 linear yards; pyroxylin spread, 3,542,000 pounds; shipments, 3,266,000 linear yards. t As explained in the 1938 supplement, these data have been raised to industry totals. In January 1939 the compilers of the underlying data made available revised annual estimates of total yardage finished, 1934-38, but as the revisions in most instances were small, the adjustments have not been carried through to the monthly figures shown here. \ Revised series. Data revised for 1937; see tables, 19 and 20, pp. 14 and 15 of this issue. [ Data for April, July, and October, 1938, and January 1939 are for 5 weeks; other months, 4 weeks. 55 SURVEY OF CURRENT BUSINESS April 1939 Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary February March April May June 1938 1939 July Decem- JanuOctober NovemAugust Septemary ber ber ber TRANSPORTATION EQUIPMENT AIRPLANES Production, total. number. Commercial (licensed) do Military (deliveries). do._. For export do... AUTOMOBILES Exports: Canada: Assembled, total number. Passenger cars do United States: Assembled, total§_ do Passenger cars§ do Tmcks§. ao... Financing: Retail purchasers, total thous. of dol. New cars do Used cars__ .do Unclassified do Wholesale (mfrs. to dealers) .do Fire-extinguishing equipment, shipments: Motor-vehicle apparatus number. Hand-type do Production: Automobiles: Canada, total.. do Passenger cars do United States factory sales), totaL_.do_... Passenger cars do Trucks.. do Automobile rims thous. of rims.. Registrations: New passenger cars number.. New commercial cars do Sales (General Motors Corporation): To consumers in U. 8__, do To dealers, total. _ „ do To U. S. dealers.do Accessories and parts, shipments: Combined index. Jan. 1925«=100.. Original equipment to vehicle manufacturers__ Jan. 1925=100.. Accessories to wholesalers do Service parts to wholesalers do Service equipment to wholesalers do 68 309 120 128 61 411 190 149 72 6,043 4,222 7,282 4,875 7,609 5,416 4,095 3,014 27, 351 16,193 11,158 29,586 17,305 12,281 30,492 16,809 13,683 65,214 32,913 31,895 405 70.384 51 30,208 234 67 29,878 14, 300 10, 914 297,841 239, 983 57,858 1,443 325 133 99 306 149 85 72 310 176 81 53 291 143 84 64 5,253 6,795 4,433 4,760 3,376 3,460 2,399 2,946 1,753 2,747 2,406 5, 024 3,835 8,499 5,806 25,680 15,757 9,923 19,579 12,127 7,452 16,605 9,564 7,041 16,443 9,222 7,221 3,912 2,558 11,142 5,347 5,795 10,888 2,808 17,024 10,930 6,094 29,043 20,172 8,871 34, 978 21, 322 13, 656 23,958 15,126 8.832 90,673 45,251 44,874 548 87,726 88,177 47, 520 40,060 597 92,661 88,906 46,617 41,699 590 82,781 86,930 44,388 42,014 528 71, 323 77,039 39,160 37,386 493 58,951 80, 847 40, 347 39,927 572 40,037 62,561 29,174 32,948 439 26,769 62,385 30, 344 31,613 428 61,359 86,047 51, 266 34, 260 521 126,650 93, 452 54, 933 37,955 564 158,289 76, 390 40, 694 35, 281 415 134,150 67 33,259 76 29,532 73 30,077 70 30,991 77 29,122 64 32,321 57 32,124 62 30,816 44 28,509 73 27, 479 44 30, 649 16,066 16,802 18,819 11, 753 12,276 14,033 186,531 221,795 219,310 139,380 174,065 176,078 47, 730 43,232 47,151 854 478 971 18,115 13,641 192,059 154,958 37,101 706 14,732 9,007 11,014 6,273 174,670 141,443 136, 531 106,841 38,139 34,602 527 410 6,452 3,063 90,494 68,624 31,870 468 6,089 4,290 83,534 65,159 18, 375 819 6,774 5,412 209,512 187,494 22,018 1,312 17,992 15, 423 372,413 320,344 52,069 1,723 18, 670 15, 518 388,346 326,006 62, 340 1,818 14, 794 11,404 339,152 280,040 59,112 1,714 120,359 181,222 27, 551 37,264 83, 251 153,886 115,890 62,831 94,449 63,771 182 103 103 192, 241 178,052 35,682 32,937 156, 384 30,649 33,476 127,954 34,231 26,570 119,053 19,589 200,853 23,943 226,973 31,474 203, 212 37,715 100, 022 103, 534 92, 593 76,071 109,555 109,659 104,115 101,908 76,142 78,525 71,676 72,596 78,758 90,030 61,826 64,925 55, 431 34,752 40,796 36,335 16,469 68,896 123, 835 92,890 131,387 200,256 159,573 118,888 187,909 150, 005 88,865 152, 746 116,964 136 138 148 150 126 142 157 129 121 83 160 131 129 91 88 103 101 99 107 92 87 118 117 108 94 116 119 112 170,010 1,720 169,780 1,717 200 11.9 5,558 1,632 3,926 202 11.9 5,825 2,052 3,773 3,121 0) (0 2,155 43,228 2,156 43, 210 2,153 43,185 8 6,911 16.0 101 83 18 7,162 16.6 84 7,443 17.2 61 48 13 159 156 56 100 16 5 11 119 109 35 74 48 22 26 100 92 84 8 21 18 3 67 62 102 101 84 75 79 104 74 99 119 90 60 100 125 58 104 143 98 91 136 161 91 169,538 1,714 169,002 1,708 1,705 <) 1,701 1,691 0) 0) 1,690 1,686 211 12.5 4,867 1,746 229 13.6 5,071 1,541 3,530 241 14.3 10,234 238 14.2 8,892 231 13.8 7,459 (0 0) 233 13.9 4,335 8 0) 0) 235 14.1 5,153 2,155 43,124 0) 0) 0) 0) 0) 0) 8,108 18.9 14 8,075 18.9 14 82 102 108 101 129 133 167 RAILWAY EQUIPMENT (Association of American Railroads) Freight cars owned and on order, end of mo.: Owned: Capacity _ _mil.of ib. Number thousands.. Undergoing or awaiting classified repairs thousands.. Percent of total on line Orders, unfilled cars.. Equipment manufacturers do In railroad shops ...do Locomotives owned and on order, end of mo.: Owned: Tractive effort mil. o/lb__ Number Undergoing or awaiting Classified repairs number.. Percent of total on line Orders, unfilled number.. Equipment manufacturers do In railroad shops do (U. S. Bureau of the Census) Locomotives: Orders, unfilled, end of mo., total...numbet.. Domestic, total _ do Electric do Steam do Shipments, domestic, total.. ...do Electric -do Steam do Industrial electric (quarterly): Shipments, total do For mining use do 0) 1,668 225 13.7 6,788 0) (0 I1) 0) 8,053 19.1 63 (0 0) 116 106 61 45 15 15 0 13.4 4,484 7,719 17.9 56 8 7,875 18.3 37 26 11 0) 7,984 18.6 26 8 (0 0) 0) (0 0) 0) 0) 8,155 19.1 7 0) (0 166,707 1,682 (0 1,672 0) 0) 231 14.0 5,080 4,426 654 0) 0) 0) 0) 2,130 42, 467 0) 0) 8,133 19.1 17 0) 0) 7,881 18.6 30 5 25 225 13.7 6,637 8,084 19.1 25 0) 0) 91 79 74 5 23 20 3 (American Railway Car Institute) Shipments: Freight cars, total. number.. 1,917 108 Domestic do 1,917 108 Passenger cars, total do 23 0 Domestic do 23 0 1 Semiaimually only, subsequent to April 1938. §Iievised series. Data revised for 1937; see table 19, p. 14 of this issue. 260 10 0 0 194 188 10 10 362 354 1 1 407 407 573 550 22 22 2,336 2,308 19 19 1,662 1,655 3 3 1,136 1,023 0 0 1,198 1,198 0 0 1,148 1,148 0 0 56 SURVEY OF CURRENT BUSINESS Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data may be found in the Febru1938 Supplement to the Survey ary April 1939 1938 February March April May June July 1939 Decem- JanuOctober NovemAugust September ber ber ary TRANSPORTATION EQUIPMENT—Continued RAILWAY EQUIPMENT—Continued (U. S.Bureau ofForeign and Domestic Commerce) Wrnnrtq of locomotives total§ siiimber . 11 9 2 16 11 5 22 20 2 20 19 1 12 10 2 22 12 10 14 13 1 15 7 8 6 4 2 23 22 1 3 3 0 19 18 1 1 1 C numberdo— do.... 53 53 0 06 79 17 115 74 41 71 67 14 78 63 15 39 30 9 41 40 1 69 58 11 60 51 9 42 33 9 46 36 10 75 62 13 50 47 3 368 316 52 11,190 384 320 63 10,357 369 310 59 17,015 423 379 44 22, 232 462 420 43 23,016 440 397 43 30,817 465 423 43 846 466 404 62 22, 218 467 404 63 1,450 519 448 70 1,166 550 461 89 22,629 3,000 500 7,690 11,190 7,654 0 2,703 10, 357 10,972 113 5,930 16,902 19,050 700 2,482 22, 232 17,696 2,642 2,678 11,885 15,539 12,412 2,866 30, 605 0 316 530 846 12,000 8,750 1,468 22 218 350 161 939 1,450 350 0 816 1 166 19 900 0 2 729 22 629 do—. _ do.... INDUSTRIAL ELECTRIC TRUCKS AND TRACTORS Electric^ Shipments total Domestic _ SHIPBUILDING United States: Vessels under construction, all types thous. eross tons _ Steam and motor do.... Unrigged do—. Vessels launched, all types gross tons Powered: do—. Steam do.... Motor -Unrigged do— do.... gteel World (quarterly): Launched: ships.. Number Tonnage thous. gross tons.. Under construction: ships Tonnage thous gross tons 235 626 302 848 254 807 249 705 827 2,895 801 2,827 685 2,712 704 2 669 CANADIAN STATISTICS Physical volume of business: Combined index Industrial production: Combined index Construction t Electric power Manufacturing __. Forestry Mining Distribution: Combined index Carloadings Exports (volume) Imports (volume) Trade employment Agricultural marketings: Combined index Grain Livestock Commodity prices: Cost of living Wholesale prices Employment (first of month): Combined index 1926=100.. do do do do do do do do do do do do do - do do do do Construction and maintenance do Manufacturing do— Mining do Service do Trade do Transportation do Finance: Banking: Bank debits mil. of dol— Commercial failures* number.Life insurance sales, new paid for ordinary thous. of dol— Security issues and prices: New bond issues, total do Bond yields _ 1926=100Common stock prices .. do Foreign trade: Exports, total thous. of dol— Wheat -thous. of bu._ W heat flour - thous. of bbl— Imports do Railways: Carloading thous. of cars.Financial results: Operating expenses . . . do Operating income - . . . do Operating results: Freight carried 1 mile mil. of tons.. Passeneers carried 1 mile mil. of Dass Production: Electrical energy, central stations mil. of kw-hr._ Pig iron thous. of long tons Steel ingots and castings do Wheat flour thous. of bbl.. 106.7 108.8 112.4 110.7 108.4 109.1 110.5 119.2 118.6 123.4 115 6 113 C 107.4 '36.1 215.9 101.3 111.3 188.8 110.2 '52.8 222.5 101.8 103.2 195.7 114.2 '56.8 212.6 103.2 100.4 212.7 112.5 '48.9 210.2 104.7 91.9 199.4 109.3 '49.7 209.8 103.5 96.7 176.6 109.8 '50.6 212.3 101.3 101.4 192.1 110.8 '52.5 '218.3 100.9 102.2 198.6 120.7 '52.8 223.6 114.2 110.2 202.1 121.1 '61.7 220.9 113.2 107.1 201.4 128 3 48 4 226.4 125.3 112.8 206.6 118.1 ' 62 7 221 6 111.3 111 7 183.1 114 40 230 111 120 176 1 3 0 1 7 8 104.5 75.0 80.4 79.6 130.4 104.7 75.0 80.3 79.1 130.9 107.2 71.4 97.8 88.2 133.3 105.5 71.8 86.4 81.7 132.8 105.7 68.7 100.1 79.8 133.4 107.0 71.5 104.3 79.8 133.7 109.5 76.3 127.1 82.8 131.9 114.9 81.0 162.6 84.4 134.0 111.5 76.0 132.0 89.1 133.7 109.2 74.2 122 7 85.7 132.5 108.6 73 7 100 0 75 8 137.0 109 70 141 77 133 3 7 2 6 8 25.7 14.0 77.8 29.7 17.4 84.5 38.3 31.0 70.7 41.1 34.1 72.5 20.6 8.2 75.9 40.3 29.7 87.3 89.2 91.9 77.0 123.9 135.1 74.0 145.6 162.7 69.0 101.6 106.6 79.1 So. 7 88 4 73.6 82.9 73.2 83.9 83.6 84.2 83.1 84.2 82.3 84.1 80.3 84.0 80.1 84.1 78.6 84.8 76.0 84.0 74.5 83.8 74.1 83.7 73.5 83.5 '73 2 106.5 89.4 106.0 160.5 129.5 131.0 79.4 110.4 71.6 110.3 154.3 128.4 127.9 79.6 107.8 71.4 110.5 153.9 127.1 126.0 79.0 105.0 71.6 110.8 151.3 129.8 127.1 78.5 107.4 88.2 110.6 149.7 131.9 131.3 83.9 111.9 114.5 112.3 153.3 135.3 131.5 84.9 113.5 124.9 111.8 154.5 146.1 133.3 86.3 112.1 128.0 110.0 153.6 143.5 132.1 86.9 115.1 133.8 113.8 157.4 146.7 131.0 88.7 116.7 143.5 112.5 160.8 136.1 134 5 90.1 114.6 122.5 110.9 163.4 132.8 135 6 87.9 114.0 112.8 110. 1 163.3 131.7 85. C 108 1 96.4 104.3 160 4 131 7 144 8 7() 9 121 2,176 99 2,371 101 2,401 47 2,462 93 2,731 92 2,466 72 2,371 102 2,655 81 2,976 92 2,965 122 2,005 71 2, 512 120 30, 879 31,204 32, 796 29, 981 30, 342 35,120 30, 126 27, 996 27, 442 31, 854 36, 611 35, 827 30,434 61.9 104.1 73,561 65.4 107.1 58, 128 64.7 99.2 65,642 63.7 97.9 198,461 61.7 99.7 77,746 61.8 100.0 98,451 62.7 106.9 51,399 62.7 105.2 51,474 65.3 98.6 108, 958 63.2 109.7 104, 930 61.5 110.4 86 142 61 8 106.8 139 515 62 1 102.9 62, 399 5,746 291 40, 380 60,981 2,839 272 46, 952 75,112 3,487 302 65,056 56, 253 1,618 185 48,895 72, 791 3,371 297 67,123 78, 308 7,275 300 58,947 78, 720 7,248 283 55,823 86, 538 6,266 286 57,026 108, 542 12, 615 320 56, 412 102, 719 24, 579 529 63,909 94, 075 21, 704 478 63, 304 70, 452 15, 983 365 44, 286 81, 773 7,879 380 ' 43, 743 171 41 77 180 200 185 190 187 183 213 250 257 219 178 23,316 23,442 * 1,305 25,925 25,165 25, 192 24,112 d 136 25, 445 24,186 96 24, 577 23,816 <*490 25, 773 24,515 '12 28, 439 26,103 1,095 34, 504 26, 919 6,375 37, 609 25, 681 10,684 30, 431 22, 661 6,502 27, 521 22,633 3,597 1,976 137 2,235 148 1,841 138 1,798 128 1,525 160 1,689 192 2,063 172 3,389 153 3,924 119 2,668 101 2,100 166 2,058 61 99 849 2,258 66 119 999 2,064 66 116 794 2,082 72 115 978 1,973 64 109 969 1,988 51 84 929 '2,076 49 83 1,103 2,164 50 74 1,639 2,329 51 76 1,906 '2,376 46 90 1,606 2,350 53 79 1,052 52 0 46 3 77.9 r 83 1 73 2 2,387 58 78 1,098 d ' Revised. Deficit. *New series. Data compiled by Dun and Bradstreet, Inc., have been substituted for those compiled by the Dominion Bureau of Statistics; data beginning January 1934 will appear in a subsequent issue. tData revised for 1938. Index for January 1938 is 48.0. §Revised series. Data revised for 1937; see table 19, p. 14 of this issue. INDEX TO MONTHLY BUSINESS STATISTICS CLASSIFICATION, BY SECTIONS Monthly business statistics: Page Business indexes.. 19 Commodity prices 20 Construction and real estate 21 Domestic trade __-_ 23 Employment conditions and wages___ . . 25 Finance 30 Foreign trade 36 Transportation and communications 37 Statistics on individual industries: Chemicals and allied products. _ 38 Electric power and gas 41 Foodstuffs and tobacco 41 Fuels and byproducts 45 Leather and products 46 Lumber and manufactures 47 Metals and manufactures: Iron and steel 48 Nonferrous metala and products __ 49 Machinery and apparatus 50 Paper and printing 51 Rubber and products 52 Stone, clay, and glass products. _ 53 Textile products 53 Transportation equipment 55 Canadian statistics 56 CLASSIFICATION, BY INDIVIDUAL SERIES Page Abrasive paper and cloth (coated) 52 Acceptances __ . 30 Accessories—Automobile 55 Advertising 25 Agricultural products, cash income received from marketings of 20 Agricultural wages, loans — 29,30 Air-conditioning equipment 50 Air mail . _24 Airplanes . 38, 55 Alcohol, denatured, ethyl, xnethanol 38 Aluminum . 49 Animal fats, greases__ 39 Anthracite mining _ 19, 26, 28,45 Apparel, wearing..... 20, 24, 25, 26,27, 28,53 Asphalt 46 Automobiles 19,24, 25, 27,28,29,55 Babbitt metal „ 49 Barley . 42 Bathroom accessories _ _, 53 Beef and veal 43 Beverages, fermented malt liquors and distilled spirits. 41 Bituminous coal 19, 20, 26, 28, 45 Boilers 49 Bond3, prices, sales, value, yields 30,35 Book publication 52 Boxes, paper ___ 52 Brass 50 Brick ___ __ 53 Brokers' loans 30 Bronze _ 50 Building contracts awarded 21,22 Building costs 22 Building materials ____ 20,47, 53 Building permits issued _ „__ 21, 22 Butter 41 Canadian statistics 56 Canal traffic 33 Candy _ 44 Capital flotations 33, 34 Carloadings 37 Cattle and calves 43 Cellulose plastic products „_ 40 Cement 19,53 Chain-store sales . _ 24 Cheese 41 Cigars and cigarettes . 44 Civil-service employees 26 Clay products.. _. 25,27,28,29,53 Clothing 20, 24, 25, 26,27, 28,29,53 Coal „ 19, 20, 26, 28,45 Cocoa .__ 44 Coffee . 44 Coke 45 Collections, department stores 24 Commercial failures _ 31 Commercial paper 30 Construction: Contracts awarded, indexes 21 Costs 22 Highways 22 Wage rates 29 Copper 49 Copra and coconut oil 39, 40 Cost-of-living index 20 Cotton, raw and manufactures 19, 20, 21, 53, 54 Page Cottonseed, cake and meal, oil _40 Crops _ 19, 20, 42, 43, 53 Currency in circulation _, 32 Dairy products 19,20,41,42 Debits, bank . 30 Debt, United States Government 32 Delaware, employment, pay rolls 25,27 Department-store sales and stocks.-. 24 Deposits, bank _. 31 Disputes, industrial 27 Dividend payments — 35 Earnings, factory, average weekly and hourly __ ________ 28,29 Eggs... ____.. __ 19,20,44 Electrical equipment ,____ 51 Electric power, production, sales, revenues. _ 41 Electric, street railways _ _37 Employment: Cities and States._ _ 26 Nonmanufacturhig__. _ _ 26 Emigration 38 Enameled ware _ 49 Engineering construction __ 22 Exchange rates, foreign 32 Expenditures, United States Government. _ 32 Explosives 39 Exports 36,37 Factory employment, pay roUs______ 25, 26, 27, 28 Fairchild's retail price index „__ 20 Fares, street railways , ... 37 Farm employees „ 26 Farm prices, index.. ...___ "'"" 20 Federal Government, finances 32,33 Federal-aid highways __ 22, 29 Federal Reserve banks, condition of 30 Federal Reserve reporting member bank statistics . . 30 Fertilizers . 39 Fire-extinguishing equipment 55 Fire losses . . 23 Fish oils and fish 39,44 Flaxseed ... 40 Flooring, oak, maple, beech, and birch 47 Flour, wheat __ 43 Food products 20,25,26,27,28,29,41 Footwear ,____„ 46, 52 Foreclosures, real estate 23 Foundry equipment „ 50 Freight cars (equipment) 55 Freight carloadings, cars, indexes.... 37 Freight-car surplus 37 Fruits __„ 19,20,42 Fuel equipment_ _ _. _„__ 50 Fuels 45,46 Furniture 47 Gas, customers, sales, revenues. ___ 41 Gas and fuel oils .___. __ 45 Gasoline 45,46 Gelatin, edible __. 44 General Motors sales. „___ 55 Glass and glassware 19, 25, 27, 28, 29, 53 Gloves and mittens , 46 Gold 32 Goods in warehouses. _. . 23 Grains 19, 20,34, 42, 43 Gypsum ^ , 53 Hides and skins, 21, 46 Hogs____ . „„ 43 Home loan banks, loans outstanding. 23 Home mortgage insurance. __ 23 Hosiery . 53 Hotels 25,28,38 Housing____ 20,22,23 Illinois, employees, factory earnings , _ 26, 27, 29 Imports -._ 36,37 Income-tax receipts . 32 Income payments_, 19 Incorporations, business __.. 23 Industrial production, indexes 19 Installment sales, New England III 24 Insurance, life 31 Interest and money rates 30 Iron ore, crude, manufactures ___ 19,48 Kerosene . „ 46 Labor tarn-over, disputes 27 Lamb and mutton____._ 43 Lard 43 Lead __.._ 19,49 Leather 19, 21, 25, 26, 27, 28,29,46 Leather, artificial 54 Linseed oil, cake, and meal 40 Livestock 19, 20,43 Loans, agricultural, brokers', real estate. _ 23,30,31 Locomotives 55,56 Looms, woolen, activity 54 Lubricants 46 Lumber 20,25,27,28,47 Lumber yard sales and stocks . 47 Machine activity, cotton, wool 54 Machine tools, orders 50 Machinery 25,27,28,50,69 Magazine advertising 23 Manufacturing indexes 19 Marketings, agricultural 19,20 Maryland, employment, pay rolls 26,27 Massachusetts, employment, pay rolls 26,27 Meats 19,20,43 Metals 19,21,25,27,28,29,48,49,50 Methanol 38 Mexico, silver production , 32 Milk 42 Minerals 19, 26, 28,45, 50 Page Naval stores „. 39 Netherlands, exchange rates 32 New Jersey, employment, pay r o l l s . . . - . 26,27 Newsprint ... St. New York, employment, pay rolls, canal traffic 26,27,38 New York Stock Exchange 3$ Oats _ 42 Ohio, employment 26 Ohio River traffic 38 Oils and fate.. - - - - 39,40 Oleomargarine 40 Paint sales 40 Paper and pulp 21, 25,25,27, 28,29,51,52 Passenger-car sales index_. 24 Passengers carried, street railways 37 Passports issued . 38 Pay rolls: Factory 27,28 Factory, by cities and States ; 27 Nonmanufacturing industries._. 28 Pennsylvania, employment, pay rolls 26,2/ Petroleum and products._ _. 19, 21,25,26,27,23,29,45,46 Pig iron 48 Porcelain enameled products , 49 Pork 43 Postal busineas______. 24 Postal savings . . 31 Poultry __„„____„ 19,20,44 Prices: Retail indexes 20 World, foodstuffs and raw material 21 Printing.25, 26, 27, 28, 29, 52 Profits, corporation --_32 Public relief 29 Public utilities. 31,32,35,36 Pullman Co _ -38 Pumps 50 Purchasing power of the dollar ___> . 21 Radiators 48,50 Radio advertising 23 Railways; operations, equipment, financial statistics ____ 37,38,55, 56 Railways, street ____. .-._. 37 Ranges, electric _____„ , 51 Rayon , 54 Reconstruction Finance Corporation, loans outstanding „ 33 Refrigerators, electric, household _-_51 Registrations, automobiles 55 Rents (housing), index 20 Retail trade: Automobiles, new, passenger, ___.„ 24 Chain stores: 5-and-10 (variety). _ 24 Grocery. 24 Department stores „__ . 24 Mail order. 25 Rural general merchandise 25 Rice_ 42 Roofing . 40 Rubber, crude, scrap, clothing, footwear, tires 19,20, 25,26,27,28,29,52 Savings deposits 31 Sheep and lambs.. 43 Shipbuilding . 56 Shoes _. 21,25,26,27,28,29,46 Silk 20,21,54 Silver 19,32 Skins 46 ; Slaughtering and meat packing. 19,25, 26, 27, 28, 29 Spindle activity, cotton 54 Steel, crude, manufactures 19, 25, 27, 28, 48,49 Steel, scrap, exports and imports 48 Stockholders . 36. Stock indexes, world__ 20 Stocks, department stores 24 Stocks, issues, prices, sales -__ - 35,36 Stone, clay, and glass products 25, 27, 28,29, 53 Sugar. _. 20,21,44 Sulphur 39 m Sulphuric acid . 39 Superphosphate , «. ,__39 Tea 20,21,44 Telephone, telegraph, cable, and radiotelegraph carriers 38 Textile products » 54 Tile, hollow building 53 Tin ___ 20,21,49 Tobacco 19,25,20,27,28,29,44 Tools, machine 50 Trade unions, employment 26 Travel 38 Trucks and tractors, industrial, electric 56 United States Government bonds 35 United States Steel Corporation 36,48 Utilities 31,32,35,36 Vacuum cleaners 51 Variety-store sales index 24 Vegetable oils __. 39,40 Vegetables 19, 43 Wages ._._ 28,29 Warehouses, space occupied 23 Waterway traffic 38 Wholesale prices.. 20, 21 Wire cloth.. 50 Wisconsin, employment, pay rolls, and wage3___ __ _ 26,27, 29 Wood pulp 51 Wool __. 54 Zinc 19,50 FOREIGN COMMERCE AND NAVIGATION OF THE UNITED STATES FOR THE CALENDAR YEAR 1937 TREND OF UNITED STATES FOREIGN TRADE Price $2.25 (buckram) Price $1 per year Tfae basic source of data on our foreign trade in 1937 if now ready for distribution,, The present report contains complete tables showing the quantities and values of exports and imports; a record of the number, tonnage, and nationality of vessels entered and cleared in foreign trade. This statement shows total United States exports and imports from the world and the distribution of exports and imports by economic classes and by commodities, and by geographical regions and countries. It is issued on a cumulative monthly basis and shows in addition to the trade figures ratios of change in the current year from other recent years. It also shows indexes of the changes in volume and price of exports and imports. This trend statement is intended to supplement the data published in the annual bulletins of United States foreign trade and to provide a convenient source of current information on United States foreign trade for businessmen, economists, statisticians and students. The statement is available at $1 per year. Subscription orders, accompanied by remittance, check or money order, payable to the Bureau of Foreign and Domestic Commerce, may be sent directly to the Bureau in Washington, or through any of the Bureau's district offices located in commercial centers throughout the United States. This statement is not available from the Government Printing Office. STATISTICAL CLASSIFICATION OF DOMESTIC COMMODITIES EXPORTED FROM THE UNITED STATES SCHEDULE B: 1939 Edition Price 2 5 cents SCHEDULE B, 1939 EDITION, became effective January li 1939. Customs officers have been instructed that export declarations submitted must comply with the regulations and new classifications as shown by Schedule B, effective January 1, 1939. A high pro portion of errors in export statistics are directly traceable to carelessness and disregard of regulations on the part of shippers. During 1939 every reasonable effort is being made to increase the accuracy d export statistics. This cannot be accomplished Without the active recognition of exporters of their obligation to furnish accurate information on their export declarations. Therefore, it is important that all shippers provide themselves with a copy of the new 1939 edition of Schedule B so that the Bureau may render accurate reports. Statistical classification of domestic commodities exported from the United States. SCHEDULE B: (1939 Edition). Price 25 cents. For copies of either of the above two publications orders should be sent to the Government Printing Office, Washington, D. C.f accompanied by remittance, check or money order, payable to the Superintendent dh (Documents. Or orders and remittance may be sent through any District Office of the Bureau of Foreign and Domestic Commerce. (MONTHLY) FOREIGH TRADE STATISTICAL STATEMENTS Most statements $1 per year These are a series of over 200 similar commodity statements issued monthly showing tables of United States imports or exports of important articles by countries. These statements, issued at the request of groups of exporters and importers, contain preliminary figures released as soon as possible after the close of the month covered, generally within 30 days. The statements are designed to be of the greatest practical use to importers and exporters and others interested in following the current volume and trend in particular commodities. For a complete list of these commodity statements, which are available on a subscription basis, usually at $1 per year, write to the Bureau of Foreign and Domestic Commerce, Department of Commerce, Washington, D. C , and request a copy of List of Available Publications.