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APRIL
1940
SURVEY
OF
CURRENT BUSINESS
UNITED STATES
DEPARTMENT OF COMMERCE
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
WASHINGTON
VOLUME 20
NUMBER
4
Number 4
Volume 20
UNITED STATES DEPARTMENT OF COMMERCE
HARRY L. HOPKINS,
Secretary
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
JAMES W. YOUNG, Director
SURVEY OF
CURRENT BUSINESS
APRIL 1940
A publication of the
DIVISION OF BUSINESS REVIEW
M. JOSEPH MEEHAN, Chief
MILTON GTLBERT, Editor
TABLE OF CONTENTS
SUMMARIES
T h e business situation
New orders continued restricted
Production declining
Security prices
Export d e m a n d m a i n t a i n e d
Free sterling restricted
SPECIAL ARTICLE
I n c o m e p a y m e n t s t o individuals, by States, 1929-38
CHARTS
Figure 1.—Monthly business indicators, 1936-40
Figure 2.—Domestic c o n s u m p t i o n of raw cotton for seven m o n t h s ,
A u g u s t - F e b r u a r y 1924-25 t h r o u g h 1939-40
Figure 3.—Indexes of production of iron a n d steel a n d automobiles,
adjusted, 1937-40
Page
3
3
5
5
6
7
CHARTS—Continued
Figure 4.—Value of exports of U. S. merchandise, 1938-40
Figure 5.—Per capita income p a y m e n t s by regions, 1929-38
STATISTICAL DATA
New or revised series:
Table 18.—Indicated expenditures for building construction
(based o n building permits), 1929-39
16
Table 19.—Employment a n d pay rolls i n n o n m a n u f a c t u r i n g
17
industries, 1929-39
18
Table 20.—Wholesale price of corn, No. 3, yellow, Chicago, 1913-39.
Table 21.—Shipments of rolled a n d finished steel products—
U. S. Steel Corporation, 1902-39
18
18
Table 22.—Rayon stocks, 1930-39
18
Table 23.—Wholesale price of Portland c e m e n t , 1926-39
19
Monthly business statistics
General index
Inside back cover
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218750°—40
1
i
Page
6
9
SURVEY OF CUREENT BUSINESS
April 1940
Monthly Business Indicators, 1936-40
INCOME PAYMENTS
INDUSTRIAL PRODUCTION
100
140
120
J
(VOLUME, 1923 - 25 = 100)
A
l\
J
\
100
J
\
6 0
M I II I I I I I I I I I I II I I I I I I I I 11 I I II I I
1936
1937
1938
1111)1)111)
1I 1 I I 1II
60
1939 1940
CASH INCOME FROM FARM MARKETINGS*
100
70
60
1
1936
1937
i
,1 M M .
I . I .
1938
, . I M I M I I
1939
DEPARTMENT STORE
i
1940
SALES
100
/
\
J
w
1 1 1 1 1 1 1 II 1 1
1936
1937
/
/
VA/
V
M1111111M
1938
1939
80
M 1111 M i I I
1940
1936
FACTORY EMPLOYMENT AND PAYROLLS
140
11111111111
I 10
(1924-29 = 100 )
90
80
A/
\
80
70
*
1937
1938
1939 1940
CONSTRUCTION CONTRACTS AWARDED'
(1923- 25 = 100)
(VALUE, 192 3 - 2 5 = 1 0 0
3-MONTH MOVING AVERAGE)
120
TOTAL CONSTRUCT/ON
FACTORY EMPLOYMENT
(ADJUSTED)
100
80
FACTORY PAYROLLS
RESIDENTIAL BUILDINGS
( UNADJUSTED)
60
i i i i i I I
1936
1937
1938
1939 1940
1936
160
(1926 = 100)
90
140
80
120
70
100
60
I I 1 1 1 tI !I I1
i , in!n I
1936
1937
1938
1937
1938
i i i i
i
i i i 11
II i II I i
1939 1940
PRICES OF 3 5 0 INDUSTRIAL STOCKS
WHOLESALE PRICES
100
i i i i i i II i II i II
80
1 1 1 1 1 I 1 1IIII111111
1 1 1 1
1939
1940
(I92P =100)
I,.M
1 1 II 1 1 1 1 1 I1I 1M
1936
* ADJUSTED FOR SEASONAL VARIATIONS
Figure 1
1937
1 1 1 1 1 1 1
1938
1 1 1 1 1 1 1 1 1 1 1
1 1 1 1 1 ! I 1 1 ! 1
1939 1940
OD 40-/44
April 1940
SURVEY OF CURRENT BUSINESS
The Business Situation
For wholesalers the increase in January was 5.0 percent
and in February 1.6 percent. With the further reducAlthough the rate of decline, especially in manufac- tion of output in March it is, therefore, probable that
turing industries, was less rapid than in the first 2 the over-all net inventory change in that month was
months of the year the drop during the month on a very small regardless of whether the direction of the
seasonally adjusted basis was substantial. At the movement was slightly up or slightly down.
Hence, if the present volume of inventories is mainclose of the month the movement of the few business
statistics available on a weekly basis was still toward tained, as it may well be to provide a safeguard against
lower levels with little indication of an early reversal future war developments, a sidewise movement of industrial activity over the near-term with fluctuations
of trend.
The contraction in industrial activity during the within a narrow range is probable. Any tendency for
first quarter of this year has erased the spectacular business to let inventories run off, however, would
gains made in the 4 months following the outbreak of result in a deepening of the recession. Liquidation to
the European war. The Federal Reserve index of the extent of say a fourth or a half of the holdings acindustrial production, corrected for seasonal move- cumulated since September, involving a disinvestment of
ments, was down to 109 in February, and preliminary upwards of $400,000,000 could hardly be offset by such
data indicate a drop of 4 points for March. Aggregate increases in other types of investment as are likely to
manufacturing output was about 5 percent larger than be realized.
a year earlier, almost entirely as a result of the higher
MILLIONS Oh BALES
5
operations in the durable goods industries.
The volume of output in March was approximately
the same as that of last August. A few durable goods
Aindustries are in an exceptional position either by virtue
of a continuing flow of orders resulting from the war
3
or because of previously accumulated backlogs. But
apart from these exceptions, the gain in the September2
December production spurt has been canceled by the
even more rapid January-March decline. With the
volume of activity now about on a par with that of
1
August, the industrial situation differs from that of 7
months ago in one important respect; the trend was
O
1924193419291939then up, whereas it is now down.
25
30
35
4-0
The recent slowing in the rate of decline does not Figure 2.—-Domestic consumption of Raw Cotton for Seven Months,
August-February, 1924-25 through 1939-40 (U. S. Department of Comnecessarily presage a reversal in the curve of business
merce, Bureau of the Census).
during the spring months. Expectations of a general
upturn are based upon improvement in the rate of New Orders Continue Restricted.
investment outlays not apparent at this time, or upon
The sluggishness of business purchasing suggests that
a change in the character of the war which would some inventory liquidation is a decided possibility at
further expand our export trade. A significantly higher the present juncture; the time has just about been
volume of productive activity is not implicit in the reached when buying must advance if a reduction in
present volume of consumption expenditures and export holdings is to be avoided. Retailers appear to have
trade, or in the prospective volume of expenditures for adopted a waiting policy in the face of the recent
investment goods as revealed by new-order data for hesitancy shown in retail trade. If allowance is made
plant and equipment.
for the increase in prices as compared with a year ago
Insofar as the business outlook can be previewed, the and for the earlier date of the pre-Easter season, dekey to developments over the next few months lies in partment store sales in March did not make a favorable
the inventory situation—as has been the case since record.
September. The decline in industrial activity so far
The latest report by the National Association of
this year has resulted from a decline in the rate of Purchasing Agents reveals that a cautious attitude preinventory accumulation. During February, the latest vails in industrial purchasing, with expectations of
month for which data are available, the increase in further price weakness. New-order data now available,
manufacturers7 stocks was slightly less than 1 percent relating mostly to February business, do not indicate
as compared with the January increase of 2.5 percent. improvement and, even in the few exceptions, such as
in business activity, in evidence since
R ECESSION
the end of December 1939, continued during March.
SURVEY OF CURRENT BUSINESS
April 1940
paper, new business is still below current output. by Ward's Automotive Reports and it is evident that
New furniture business in February was about a third consumer takings will have to be better than in early
under January and only a shade higher than a year March if output is not to decline.
earlier. Orders in the steel and textile industries are
INDEX NUMBERS, 1923-25 = 100
200
reported by the trade to be well below production
with backlogs declining. As may be seen in figure 2,
/RON AND STEEL^j>
mill consumption of cotton since August has established
150
a new record for that period; a maintenance of this
AUTOMOBILES
rate for the remainder of the cotton year appears
improbable under present general business conditions.
*s.
J 1
100
The monthly survey of manufacturers recently initiated by the Bureau of Foreign and Domestic Commerce
showed a further decline in new orders from January to
50
February. The February total of new business, reports
for which are restricted very largely to durable goods
producers, was only 6.0 percent above a year earlier
1937
1940
1938
1939
when orders were at a rather low ebb.
Figure
3.—Indexes
of
Production
of
Iron
and
Steel
and
Automobiles,
The automobile industry has been looked to as a
Adjusted for Seasonal Variations, 1937-40 (Board of Governors of the
Federal Reserve System).
major support to the sagging business structure.
NOTE.—Data for March are estimates of the U. S. Department of Commerce,
Retail sales of passenger cars in the first 2 months of Bureau of Foreign and Domestic Commerce.
the year were unusually good, the average increase over
The preliminary data for March show that automothe previous year being more than 35 percent. The bile production did not rise by the usual seasonal increreturns for the early part of March were less favorable, ment in that month from the high volume of assemblies
although they picked up as the month wore on. Stock- in January and February. March output of about
ing of dealers has proceeded at a rapid pace, however, 425,000 units was, however, 15 percent higher than a
so that field stocks are now high—in the neighborhood year earlier and the first quarter total was up 24 perof a half million cars. Under these circumstances the cent. Production in the automobile industry, thereusual seasonal increase in assemblies is not anticipated fore, has held up in recent months much better than in
MONTHLY BUSINESS INDEXES
Monthly income
payments, ad
justed i
1
Year and month
h
£
Monthly average,
1929=100
1929: February.
1932: February..
1933: February.
1937: February,
193&: February _
1939:
January
February.. _
March
April
May
June
July
August
September.
October
November..
December..
1940:
January
February..
1
98.9
67.4
55.5
87.6
81.8
66.5
54.0
83.3
83.0
84.1
83.0
83.4
84.1
83.7
85.4
86.8
88.0
88.5
89.5
82.3
82.0
82.1
81.0
81.4
82,8
82.8
84.0
84.5
86.6
87.3
87.7
89.5
88.4
87.2
86.9
78.4
Freight-car Retail sales, Foreign
trade,
loadings, value, advalue,
adjusted l
justed 1 adjusted
1
Industrial
production,
adjusted *
Is
if
r
+ ft
C Z
33
1?
11
f
§*
P
Monthly av- Monthly average, 1923- erage, 192425 = 100
192931 = 100
Monthly average, 1923-25=100
29=100
98.5
70.1
57.7
87.5
82.5
105.0
71.4
65.0
108.4
91.9
110.8
55.4
41.4
100.1
77.5
57.5
54.0
84.4
84.4
84.8
83.8
84.3
85'. 4
85.5
86.7
87.0
88.8
89.5
94.6
94.3
94.0
93.8
93.3
94.3
95.3
95.9
97.5
101.2
103.4
104.6
83.7
86.0
87.6
85.5
85.0
86.5
84,4
89.7
93.8
101.6
101.6
103.7
66.0
52.5
57.5
53.5
5910
59.5
67.5
75.5
93.0
107.0
90.0
79.0
79.5
78.5
76.5
73.0
72.5
68.0
70.5
63. 5
63.0
66.5
73.5
76.5
76.5
79.0
103.9
102.2
98.3
97.8
69.0
60.0
79.0
83.0
118
69
63
116
79
118
68
61
116
75
119
78
80
116
103
109
60
52
82
62
104
78
66
68
62
101
99
98
92
92
98
101
103
111
121
124
128
100
97
96
92
91
97
100
104
111
121
124
129
110
110
110
95
98
104
106
91
114
121
124
120
69
67
66
60
62
67
69
70
77
80
82
78
62
62
62
61
61
61
62
62
63
62
63
62
119
118
108
125
121
78
73
62
61
109
Adjusted for seasonal variations; monthly arerages, except income payments, are based on unadjusted indexes.
$2
II
3 o
Z
Factory employment
Cash farm
income 2
and
pay rolls
110
Monthly average,
1923-25=100
Monthly
average,
1926=100
136.5
44.0
33.0
139.5
74.0
128
45
29
67
76
116
41
26
87
51
118
27
19
62
51
124.1
65.2
52.7
89.4
74.2
95.4
66.3
59.8
86.3
91.0
96.0
88.0
79.5
79.0
55
63
70
64
70
70
69
72
72
72
67
91
55
49
53
53
61
58
57
57
59
65
73
77
86
73
69
67
63
63
67
73
73
76
83
86
90.5
77.1
92.3
85.3
90.0
94.7
89.6
88.7
93.9
96.5
94.5
113.5
76.9
95
100
74
62
75
62
101. 3
87.9
79.4
78.7
7.9.0
80.5
76.5
83.5
93.7
102.8
108.5
124.0
2 From farm marketings.
76.9
76.7
76.2
76.2
75.6
75.4
75.0
79.1
79.4
79.2
79.2
April 1940
SURVEY OF CURRENT BUSINESS
industry generally, although it is characteristically
subject to wider cyclical swings.
This is one of the major points of difference between
the 1937 collapse and the current recession thus far, a
point which is well illustrated by figure 3. In 1937
assemblies declined very promptly with iron and steel
output and by relatively the same amount. But they
have not done so during the first quarter of 1940. It is
to be noted, however, that steel rose much above the
1937 peak in the final months of 1939 so that the lack of
similarity with 1937 is not decisive. The essential
question is whether consumer demand for automobiles
can be maintained despite the decline in income which
is occurring. While income payments had fallen only
slightly in January, the February drop was 1.1 points
in the adjusted index to 88.4, and a movement of
similar size is likely for March. This is a rate of decline comparable with the September-December rate of
increase.
and consumption of raw wool, according to preliminary
figures, was more than 5 percent below the rate of the
preceding year. Shoe production for February, although increasing seasonally from January, was slightly
smaller than in February of last year.
In the paper and paperboard industries, the preliminary weekly reports for March suggest that the decline
was not very large during the month. Production in
both these lines was at about the August position.
Among the fuel industries there was a further decline
in bituminous coal output, the result of seasonal influences and the lowered rate of industrial demands.
Crude petroleum production in. March increased to
another new record. Because refinery operations were
unusually high, there was but a slight increase in stocks
of crude oil. As a result, stocks of gasoline rose above
the 100,000,000-barrel mark to a record total; at the
end of March they were almost one-fifth larger than a
year ago. Although domestic gasoline demand for
March was estimated by the Bureau of Mines to be
Production Declining.
For the last week of March steel-ingot production about 6 percent above that of March 1939, the position
was down to 61 percent of capacity, or 5 points lower of stocks relative to consumption remains much higher
than at the beginning of the month. Several of the than in recent years.
The continued weakness of commodity and security
major industries that consume steel have apparently
quotations
reflects the decline in general business;
held operations up at a better rate than steel output,
price
movements,
likewise, have not been indicative of
and throughout the war period the use of steel has
a
business
upturn
in the near future. March was
not fluctuated to the extent of the changes in steel
characterized
by
minor
declines in quotations of several
production. Some producers of fabricated steel prodof
the
more
sensitive
industrial commodities. Print
ucts, on the contrary, have reduced operations sharply.
cloth,
lead,
tin,
wool,
silk, cotton, and hides were
The accompanying tabulation for steel barrels (heavy
fractionally
lower
at
the
end of March than a month
type) reveals wide swings since last summer. February
earlier.
Wholesale
price
indexes for farm products
production, back to the summer level was only half as
and
foods
averaged
slightly
lower than in February,
large as at the fall peak.
according to the weekly data. Although prices of
Steel Barrels and Drums
most industrial products, both finished and semi[Thousands]
finished, have held at the higher figures established last
year, the general level of industrial commodity prices
Orders
ShipNew
unfilled
ProducMonth
has been lowered—mainly as a result of the changes in
ments at end of
orders
tion
month
quotations of raw and semifinished materials. Thus,
the comprehensive index of over 600 price series for
1939:
785
July
.
750
757
236
commodities other than farm products and foods
862
850
851
August
248
1,731
1,207
September. ._
_ _ .__ _.
1,204
772
compiled
by the Department of Labor, has declined
1,953
1,577
1,612
1,148
October
1,472
1,653
967
November
. __ _
___
1,636
from
the
1939
peak of 84.4 (1926=100) to 82.0 in the
1,259
1,457
1,469
December.
768
1940:
last
week
of
March.
During the first 8 months of 1939,
Januarv
841
1,138
1,158
450
694
803
February
809
335
this index had averaged 80.5.
Security Prices.
Among the nondurable goods industries, the moderate
ecession of the first 2 months of the year was extended
into March. Preliminary indications are that production of these goods, as measured by the Federal Reserve
index, was no higher than in March of last year. For
the entire first quarter the gain over a year ago was only
about 2 to 3 percent. The cotton-textile industry, although showing some decline, has continued to produce
at an exceptionally high rate. Woolen-mill activity
recorded a moderate decline from January to February
The uncertainty that characterized commodity
markets was also the dominant note in the security
exchanges during March. Stock price movements
were largely confined to the narrow ranges of January
and February. The Standard Statistics index of 350
industrial share quotations averaged fractionally above
107 (1926 = 100) during March; about 7 points below
the peak last fall. The March level, however, was 12
points or more above the low point reached in April of
last year following the European crisis of that period.
SURVEY OF CURRENT BUSINESS
Prices of corporate bonds also were little changed
during March after the slight decline during January
and February. The new-issues market for corporate
securities continued relatively inactive during the
month. Aside from' the unusually large industrial
issues for refunding purposes the flotation of corporate
securities so far this year has been mainly confined to
utility refunding. There was an increase in commercial loans during March though of such small proportions as to be of no material significance.
A Treasury refunding was effected at a low interest
rate in March. Five-year %-percent notes were offered
in exchange for a called issue of 5-year 1 ^-percent notes.
Quotations of long-term Government issues strengthened during March; yields on these securities declined
to a point but moderately below the record figure
reached in June 1939.
Reflecting the substantial improvement in corporate
and individual incomes last year, the income taxes due
on March 15 recorded a marked increase over those of
a year earlier which were based upon 1938 earnings.
For the month of March, income tax collections (Daily
Treasury Statement) totaled $665,000,000, an increase
of 31 percent over the collections in the comparable
period of 1939. Collections w^ere smaller than those
of March 1938.
Export Demand Maintained.
February's export returns revealed a decline in foreign shipments of 5.6 percent to $339,000,000 from the
January figure of $359,000,000, a reduction that is accounted for by the shorter month. A decline no greater
than this amount is indicative of a well-maintained
demand from abroad. On the other hand, in those recent years when the trend was rising, in 1937 and 1939,
exports in February exceeded the January totals.
The detailed figures show that the contraction was
limited to a few commodities and a few countries, further
indicating demand in general to be continuing at the
high December-January level. Cotton shipments alone
declined $15.6 millions from the high January total of
$59,900,000. Nonferrous metals, aircraft, and cotton
exports combined declined $26,300,000; hence, shipments of all other commodities on balance showed some
increase. Part of this increase is accounted for by the
sale of 16 merchant ships for $6,100,000.
A decrease of more than $13,000,000 in shipments to
Japan was the outstanding change in the country classification. It follows the abrogation of the United
States-Japanese trade treaty in January and several
months of very high exports to that country which
probably were partly an anticipation of that event.
The only other declines of significance were those to
the United Kingdom accounted for by cotton; to the
U. S. S. R. because of the drop in copper shipments;
and to the Netherlands, largely resulting from declines
in cotton and petroleum. The decline in exports to
April 1940
these four markets was almost $32,000,000 and was
therefore partly offset by an increase in shipments to
all other countries.
A fact of some importance in assessing the significance
of the increase in exports in recent months is brought
out in figure 4. The rise has been highly concentrated
among very few types of goods, namely, iron and steelmill products, metalworking machinery, nonferrous
metals, aircraft, industrial chemicals, and unmanufactured cotton. In February, for example, these six
items showed an increase compared with a year earlier
MILLIONS
8
MILLIONS
OF DOLLARS
I INDUSTRIAL
CHEMICALS
OF DOLLARS
COTTON, UNMANUFACTURED
I
0
200
150
100
1938
1939
1940
1938
1940
Figure 4.—Value of Exports of U. S. Merchandise, 1938-40 (U. S. Department of Commerce, Bureau of Foreign and Domestic Commerce).
of 169 percent, whereas all other commodities had risen
only 21 percent. Out of an increase in total exports of
$122,000,000 they accounted for over $87,000,000.
As the chart demonstrates, the increase in exports
since August would not be large but for the rise in
shipments of a few products.
From the kind of goods involved it is apparent that
the war has been the factor behind our expanding
trade—whether to belligerents or neutrals. It suggests
that the maintenance of the current volume of trade is
dependent upon the continuation of the war. For
this reason the stimulus to the domestic economy from
the increase in exports is likely to be less than would be
the case if it were more diffused and considered to be of
a more permanent character. The reluctance to expand
plants is evident even in those instances where the
backlog is very large and demand is pressing capacity.
SURVEY OF CURRENT BUSINESS
April 1940
FREE STERLING RESTRICTED
the authorities in allowing transfers of sterling from
domestic
to foreign accounts are not known, but it is
Following the announcement by the British authorprobable
that the prevention of capital exports is a
ities of regulations which will reduce the demand for
primary
purpose.
The restriction of the supply of free
free sterling, quotations for sterling in New York
sterling,
resulting
from
these measures, in conjunction
dropped during March to new lows since the beginning
with
the
reputed
depletion
of pre-war foreign balances
of the war. The new regulations, effective March 25,
in
London,
was
followed
by
a firm tendency in the
require that exporters of rubber, tin, jute, and jute
market
for
free
sterling.
The
rate
weakened in Februmanufactures, whisky, and furs from the United Kingary
under
the
pressure
of
reported
offerings
by European
dom; rubber, jute, and jute manufactures from India;
and
South
American
holders
of
sterling
balances;
and,
and rubber and tin from the producing colonies to speci7
in
March,
the
New
York
quotation
reached
new
warfied countries must secure paj ment in dollars and other
designated currencies rather than in sterling as was time lows with the appearance of the regulations
designed to reduce the demand for free sterling.
previously the general practice.
The effect of British exchange regulations is to admit
The importance of this limitation on the demand for
free sterling may be judged by the fact that United or force certain transactions into the official market
States imports of the affected commodities in 1939 were and to exclude others, which are permitted to clear
valued at approximately $250,000,000. Under the new through the unofficial or "free" market. The exarrangements, the British authorities will receive the istence and the extent of a free market for sterling are
proceeds of selected British and Empire exports in the thus subject to the control of the British authorities,
form of dollars and other freely disposable currencies even though no attempt is made to influence day-to-day
and by the same means insure payment for these exports fluctuations in rates. Transactions through the free
at the official rate. It is significant that British coun- market have facilitated the liquidation of sterling
tries are important or principal suppliers of rubber, tin, balances by persons outside the United Kingdom,
whisky, and jute among the products which must be although at some loss as compared with the rate for
paid for in foreign currencies beginning on March 25. officially approved transfers. At the same time there
Other more competitive exports from the United King- has been a further depreciation of sterling and a condom and sterling countries may still be paid for with sequent cheapening of British and Empire exports to
sterling acquired in the free market at the lower rates foreign purchasers, on the one hand, and a further
there prevailing.
increase in the sterling cost of British and Empire
The relative magnitude of transactions carried out in imports for which foreign exchange is not made availthe market for free sterling is not precisely known. able at the official rate, on the other.
The need for dollar exchange on the part of the
Nevertheless, the unrestricted option of persons wanting
sterling to cover their requirements outside the official British authorities is reflected in the continued heavy
market must have resulted in a substantial volume of shipment of gold to the United States. Imports of
business so long as offerings by holders of free sterling gold from the United Kingdom and other British
were sufficient to meet this demand at a price below countries (including Canada) aggregated more than
the Bank of England's selling rate.
$1,000,000,000 during the 6 months ended with FebruThe major sources of supply of free sterling have ary. Receipts from the United Kingdom fell to relabeen, on the one hand, pre-war foreign sterling balances tively small proportions after September and accounted
not eligible for conversion into foreign currencies at the for less than a fourth of the total. Shipments from
official rate and, on the other, sterling balances arising Canada, consisting in large part of gold previously
from the payment by British importers for goods placed under earmark there for British account, exinvoiced in sterling. In December and January, ceeded $600,000,000. Unusually large imports came
transfers of sterling from resident to nonresident also from British India, Australia, and Hong Kong, and
accounts in British banks were placed under the same there were substantial direct shipments from South
restrictions as the conversion of sterling into foreign Africa. The extent to which these receipts of gold from
currencies, that is, were made subject to the permission British sources may have been placed under earmark
of the exchange authorities upon presentation of docu- in this country for British account rather than used
mentary evidence of the specific transactions for which immediately to obtain dollar exchange is not dispermits were required. The precise criteria used by closed.
SUEVEY OF CURKENT BUSINESS
8
April 1940
Income Payments to Individuals, by States,
1929-38
CAPITA income payments in the United States benefits, workmen's compensation, pension payments,
P ER
in 1938 amounted to 515 dollars, with a variation and related items), entrepreneurial withdrawals (the
incomes of self-employed persons), and capital return
By John L. Martin, National Income Division
on a State basis from 205 dollars in Mississippi to 822
dollars in New York. Per capita income was above
the national average in nineteen States and the District
of Columbia, and below it in twenty-nine. Twenty-six
States had per capita incomes of more than 400 dollars
but less than 600 dollars.
Table 1.—Number of States * With Per Capita I n c o m e P a y m e n t s at Different Levels», 1929-38
Per capita income
$1 000 and over
$900 to $999
$800 to $899
$700 to $799 •
$600 to $699
$500 to $599
$400 to $499 .
$300 to $399
$200 to $299
$100 to $199
National, per capita .
(dividends, interest, and net rents and royalties).
These concepts are identical to those used in the national figures on income payments.
Table 3.—Number of States With Types of Income at Indicated Percentages
of Total Payments, 1938
Salaries
and
wages
Percentage of total income payments
1929 1930 1931 1932 1933 1934 1935 1936 1937 1938
2
1
2
5
4
10
9
7
7
2
1
4
3
8
12
5
7
7
1
1
5
2
8
13
8
6
4
4
3
7
9
12
8
5
1
3
3
15
11
6
9
$679 $610 $515 $399 $376 $432 $465 $536 $566
$515
1
3
4
7
13
11
9
5
6
15
12
8
1
4
3
14
13
10
3
2
5
11
12
9
2
3
2
9
8
11
7
8
i 48 States. District of Columbia excluded. See text.
Not only does income in any year vary among States,
but there is considerable variation in the year-to-year
movements. From 1929 to 1933 per capita incomes fell
substantially in all States, with declines of less than
40 percent in nine States and of more than 50 percent
in seven States. During the period from 1933 through
1937, per capita income payments rose more than 70 percent in nine States and less than 40 percent in ten
States, an improvement ranging from 28 percent in
Massachusetts to 97 percent in Michigan. From 1937
to 1938 declines were again both universal and uneven.
70 to 74.9
65 to 69.9
60 to 64.9
55 to 59.9
50 to 54.9
45 to 49 9
40 to 44.9
35 to 39.9
30 to 34.9 . .
25 to 29.9
20 to 24 9
15 to 19.9
10 to 14.9
5 to 9.9 . . . .
0 to 4 9
I
1
2
14
17
8
5
. . .
Percentages from national totals
Dividends,
Other Entrepreinterest,
nurial
labor
and net
withincome drawals
rents and
royalties
2
j
!
4
42
3
59.1
7.2
4
4
8
13
8
10
2
5
11
20
12
17.6
16.1
1
Salaries and wages were the most important type of
payment in every State in 1938 and accounted for
nearly three-fifths of total income payments for the
Nation. In 3 States more than 65 percent of total
payments w^ere received as salaries and wages, but
residents of 7 States derived less than 50 percent of
their income from this source. Other labor income
provided more than 7 percent of total income payments
for the country as a whole, and between 5 and 10 percent of total payments in 42 States. Entrepreneurial
Table 2.—Number of States Showing Indicated Percentage Changes in Per
Capita Income Payments, Selected Periods, 1929-1938
withdrawals accounted for a little more than one-sixth
of total income payments for the Nation in 1938, while
1929-33
1933-37
1937-38
slightly less than one-sixth appeared in the form of capNumNumNumital return, with the relative importance of payments
Percent change
ber of Percent change ber of
ber of
Percent change
States
States
States
of these types varying widely among the States. Withdrawals, ranging from 8 percent in the District of
1
-30.1 to - 3 2 . 5 . . . .
1
75.1 and up
5
0
-32.6 to -35.0
2
. . 70.1 to 75.0
4 - . 1 to - 2 . 5 . _ _
Columbia to 40 percent in Mississippi, provided more
-35.1 to - 3 7 . 5 . . . .
65.1 to 70.0
5
4 - 2 . 6 to - 5 . 0
-37.6 to -40.0
3 60.1 to 65.0
15
8 - 5 . 1 to - 7 . 5
than 25 percent of total payments in 16 States and
-40.1 to -42.5
10 55.1 to 60.0
14
7 - 7 . 6 to —10.0.__
-42.6 to - 4 5 . 0 . . . .
8 50.1 to 55.0
4 —10.1 to - 1 2 . 5 . . .
8
less
than 15 percent in 12 States. Capital return con-45.1 to -47.5 .
10 45.1 to 50.0
6 -12.6 to - 1 5 . 0 . - 2
-47.6 to - 5 0 . 0 . . . .
5 40.1 to 45.0
1 -15.1 to -17.5-__
tributed
more than one-fifth of total income payments
-50.1 to - 5 2 . 5 . . . .
3 35.1 to 40.0 __
4
- 5 ? . 6 t o -55.0
3 30.1 to 35.0
5
in
6
States
and less than one-tenth in 12 States.
-55.1 to -57.5
1 25.1 to 30.0
1
The
differences
in averages, composition, and trends
National percentNational perNational percent-44.6
age.
centage. .- -. 50.5
-9.0
age
of income payments, as indicated in part in tables 1, 2,
and 3, give significance to the data for individual
Income payments as classified in the State estimates States. Income payments reflect comprehensively the
are of four major types: Salaries and wages, other labor functioning of the economic organization in the different
income (direct and work relief and unemployment States and provide a background for better analyses of
SURVEY OF CURRENT BUSINESS
April 1940
other statistical and financial data relating more directly to the behavior of specific segments of the
economy. An analysis of these differences is here presented only in broad outline. But to the businessman
concerned with problems of sales control and marketing
PERCENT
100 ••
PERCENT
— • 100
CONTINENTAL UNITED
STATES
9
development, and to Government units determining
policy in social and fiscal matters, differences between
the economies of particular areas as reflected in the
pattern of income payments and variations in trends
over a period of time are both significant factors, and
the detailed figures given in tables 4 and 7 will permit more specialized analysis in approaching specific
problems.
Per Capita Income Payments.
160
160
140
PERCENT OF NATIONAL PER CAPITA-
14-0
120
120
NORTHEASTERN
STATES
J00
100
80
60
120
NORTH CENTRAL-INDUSTRIAL STATES
N. CENTRAL-INDUSTRIAL 8c AGRICULTURAL STATES
NORTH CENTRAL-AGRICULTURAL STATES
SOUTHEASTERN STATES
SOUTH CENTRAL STATES
120
(
• !20
• 100
100
1929 1930 1931
1932
1933 1934 1935 1936 1937 1938
Figure 5.—Per Capita Income Payments By Regions, 1929-38 (U. S. Department of Commerce.
218750—40
2
Although total income payments in particular States
have definite significance, average or per capita incomes
may be more useful measures for many analytical purposes. Income payments are primarily general measures of the ability of individuals to command goods
and services, and the number of persons participating
in a given quantitative demand is an important conditioning factor in determining the nature of the goods
and services required.
Per capita income is derived by dividing an estimate
of total income payments by an estimate of population.
Both estimates are developed carefully and are based
upon a wide variety of primary data, but source material is of such a nature that some margin of error
must be recognized. Further, it is usually feasible
only to assign salary and wage income to the State
in which it is earned, and that is not always the State
in which the recipient resides. Since there are areas
where large cities located at or near State boundaries
attract to employment the residents of bordering States,
population data and income estimates are not strictly
comparable. In such cases, per capita payments in
the given State are too high and in the neighboringState too low. Computed per capita incomes for the
District of Columbia are considerably inflated because
of the high proportion of persons who work in Washington, D. C , but live in Virginia or Maryland, and average income in those States is computed at too low a
level, although the bias in the State figures is less
significant because of the larger area and population
of the adjoining States.
The general cyclical swings of per capita income payments were similar in all States, but table 4 reveals that
individual variations were often rather extreme. Per
capita income in Massachusetts fell 30 percent from
1929 to 1932, less than the decline in any other State.
In North Dakota, heavily influenced by poor years in
agriculture, the drop was almost twice as severe, with
average income per person in 1932 at only 41 percent of
the 1929 figure. Recovery from 1933 to 1937 tended to
be either modest or extreme as the preceding decline
had been small or large. Per capita incomes in both
New Jersey and Mississippi were both at about 80 percent of their respective 1929 averages in 1937, but stood
at only 47 percent of the 1929 figure in Mississippi in
1933 in contrast with 59 percent in New Jersey.
10
SURVEY OF CURRENT BUSINESS
April 1940
Table 4.—Per Capita Income Payments by States, 1929-38
Amount
Ratio to National Per Capita
Percent of 1929
State
Continental United States
Alabama
Arizona
_ ._
Arkansas
California
Colorado- .
Connecticut... _
Delaware
District of Columbia l - _ . .
Florida
Georgia
Idaho
Illinois .
.
Indiana
Iowa
Kansas _ _
Kentucky
Louisiana
Maine
Maryland.- _
Massachusetts
Michigan
Minnesota
_
Mississippi-. _
Missouri
Montana .
.
Nebraska
_
Nevada
New Hampshire .
New Jersey
_
New Mexico
New York
North Carolina _.
North Dakota
Ohio
Oklahoma,
Oregon..- _
_.
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas..
Utah
Vermont _ _
Virginia
Washington
West Virginia
Wisconsin
_.
_
Wyoming
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
679
610
515
399
376
432
465
536
566
515
323
601
300
981
624
242
512
221
894
603
188
426
175
764
505
155
325
155
602
374
142
319
141
566
364
191
400
180
628
411
200
449
191
690
450
239
518
225
819
537
244
587
227
864
587
225
543
216
794
531
48.0
54.1
51.7
61.4
59.9
926
573
739
848
1,065
835
919
638
1,291 1,294 1,207 1,046
392
515
455
310
332
231
190
277
540
608
895
286
186
737
645
794
601
698
890
754
765
892
689
976 1,043 1,193 1,238 1,199
347
379
451
454
487
232
252
290
296
279
1932
1938
1933
1936
1937
1938
1929
1932
1933
1936
1937
55.4
78.9
83.4
75.8
1.00
1.00
1.00
1.00
1.00
1.00
44.0
53.1
47.0
57.7
58.3
74.0
86.2
75.0
83.5
86.1
75.5
97.7
75.7
88.1
94.1
69.7
90.3
72.0
80.9
85.1
.48
.89
.44
1.44
.92
.39
.81
39
1.51
.94
.38
.85
.38
1.51
.97
.45
.97
.42
1.53
1.00
.43
1.04
.40
1.53
1.04
.44
1.05
.42
1.54
1.03
61.9
59.9
81.0
60.2
57.2
58.3
57.1
69.3
55.5
56.0
79.6
83.6
92.4
87.6
87.3
85.7
83.8
95.9
94.6
89.2
75.4
70.8
92.9
88 2
84.0
1.36
1.57
1.90
.76
.49
1.44
1.60
2.62
.78
.48
1.44
1.62
2.38
.76
.49
1.38
1.66
2.23
.84
.54
1.40
1.58
2.19
.86
.52
1.36
1.46
2.33
.88
.54
58.8
533
890
590
554
551
479
770
510
538
509
373
616
422
425
416
269
458
315
285
297
290
429
305
299
298
354
487
362
340
348
391
528
397
385
375
457
620
477
456
430
499
668
513
448
454
438
599
454
443
414
50.5
51.5
53.4
51.4
53.9
54.4
48.2
51.7
54.0
54.1
85.7
69.7
80.8
82.3
78.0
93.6
75.1
86.9
80.9
82.4
82.2
67.3
76 9
80.0
75.1
.78
1.31
.87
.82
.81
.67
1.15
.79
.71
.74
.77
1.14
.81
.80
.79
.85
1.16
.89
.85
.80
.88
1.18
.91
.79
.80
.85
1.16
.88
.86
.80
369
415
582
687
872
314
362
567
656
818
258
315
497
579
739
209
249
391
474
607
189
235
374
442
554
233
284
407
496
601
252
306
438
529
626
293
356
486
599
687
306
380
501
650
711
280
376
453
592
656
56.6
60.0
67.2
69.0
69.6
51.2
56.6
64.3
64.3
63.5
79.4
85.8
83.5
87.2
78.8
82.9
91.6
86.1
94.6
81.5
75.9
90 6
77.8
86.2
75.2
.54
.61
.86
1.01
1.28
.52
.62
.98
1.19
1.52
.50
.63
.99
1.18
1.47
.55
.66
.91
1.12
1.28
.54
.67
.89
1.15
1.26
.54
.73
.88
1.15
1.27
759
573
268
617
650
634
538
202
566
533
524
464
144
474
448
401
348
131
364
324
353
337
126
338
344
462
389
165
377
465
528
432
177
401
544
624
516
226
456
602
695
535
215
467
606
576
506
205
434
518
52.8
60.7
48.9
59.0
49.8
46.5
58.8
47.0
54.8
52.9
82.2
90.1
84.3
73.9
92.6
91.6
93.4
80.2
75.7
93.2
75 9
88.3
76.5
70.3
79.7
1.12
.84
.39
.91
.96
1.01
.87
.33
.91
.81
.94
.90
.34
.90
.91
1.16
.96
.42
.85
1.12
1.23
.95
.38
.83
1.07
1.12
.98
.40
.84
1.01
575
863
655
818
386
576
801
608
772
348
481
716
548
674
300
298
540
428
537
230
330
505
414
479
239
383
589
464
523
306
385
694
479
548
338
464
784
511
615
408
441
897
539
647
429
400
799
501
599
409
51.8
62.6
65.3
65.6
59.6
57.4
58.5
63.2
58.6
61.9
80.7
76.7
90.8 103.9
78.0
82.3
75.2
79.1
105. 7 111.1
69.6
92 6
76.5
73.2
106.0
.85
1.27
.96
1.20
.57
.75
1.35
1.07
1.35
.58
.88
1.34
1.10
1.27
.64
.87
1.46
.95
1.15
.76
.78
1.58
.95
1.14
.76
.78
1.55
.97
1.16
.79
1,130
317
442
750
464
1,061
260
363
656
368
915
221
259
551
287
720
179
182
411
227
665
191
215
396
230
732
243
246
469
253
766
254
273
517
280
854
287
319
613
315
889
304
332
664
340
822
282
296
577
314
63.7
56.5
41.2
54.8
48.9
58.8
60.3
48.6
52.8
49.6
75.6
90.5
72.2
81.7
67.9
78.7
95.9
75.1
88.5
73.3
72.7
89.0
67.0
76.9
67.7
1.66
.47
.65
1.10
.68
1.80
.45
.46
1.03
.57
1.77
.51
.57
1.05
.61
1.59
.54
.60
1.14
.59
1.57
.54
.59
1.17
.60
1.60
.55
.57
1.12
.61
677
750
842
274
458
586
687
773
226
440
490
575
703
192
359
377
433
574
158
195
354
403
534
167
229
421
460
578
209
273
470
490
623
220
294
568
564
688
256
363
598
599
725
266
329
553
525
656
249
329
55.7
57.7
68.2
57.7
42.6
52.3
53.7
63.4
60.9
50.0
83.9
75.2
81.7
93.4
79.3
88.3
79.9
86.1
97.1
71.8
81.7
70.0
77.9
90.9
71.8
1.00
1.10
1.24
.40
.67
.94
1.09
1.44
.40
.49
.94
1.07
1.42
.44
.61
1.06
1.05
1.28
.48
.68
1.06
1.06
1.28
.47
.58
1.07
1.02
1.27
.48
.64
353
466
556
605
412
293
394
498
554
365
239
327
416
484
317
193
267
307
382
266
184
264
307
356
243
238
308
352
389
289
254
329
398
418
311
292
384
459
473
355
304
427
498
473
370
279
399
471
437
347
54.7
57.3
55 2
63. 1
64.6
52.1
56.7
55 2
58.8
59.0
82.7
82.4
82 6
78.2
86.2
86.1
91.6
89 6
78.2
89.8
79.0
85.6
84.7
72.2
84.2
.52
.69
.82
.89
.61
.48
.67
.77
.96
.67
.49
.70
.82
.95
.65
.54
.72
.86
.88
.66
.54
.75
.88
.84
.65
.54
.77
.91
.85
.67
730
463
653
699
655
405
573
633
531
344
474
534
407
267
363
397
389
260
346
407
451
319
400
482
492
339
455
536
603
398
539
619
623
412
569
637
593
362
514
593
55.8
57.7
55.6
56.8
53.3
56.2
53.0
58.2
82.6
86.0
82.5
88.6
85.3
89.0
87.1
91.1
81.2
78.2
78.7
84.8
1.08
.68
.96
1.03
1.02
.67
.91
.99
1.03
.69
.92
1.08
1.13
.74
1.01
1.15
1.10
.73
1.01
1.13
1.15
.70
1.00
1.15
i Data subject to limitations. See text.
funds rather than directly to individuals (as, for
instance, employee contributions under social security
plans) is excluded from these estimates. Relatively
minor amounts of payments in kind are included as
salaries and wages in those industries where such payment is common—agriculture, water transportation,
and domestic service.
There are also a number of other forms of income
flowing primarily to labor but not related to services
currently rendered, and these have been designated as
Composition and Sources.
"other labor income." This classification encompasses
The nature of income payments can be more readily pension payments to individuals under independent
understood by a closer examination of the four major plans sponsored by private employers, compensation
types of payments mentioned above. Salaries and payments to individuals on account of industrial injuwages, including commissions, fees, and bonuses, are ries, adjusted service certificate disbursements, direct
paid regularly by private and public employers of all relief payments, benefits under social security programs,
types to individuals as a return for personal services and similar items. Work relief wages are included in
currently rendered. As far as data permit, that por- other labor income, because they cannot be separated
tion of salary and wage items which flows into reserve i from direct relief payments in the earlier years, but
Per capita incomes in Arizona, Florida, Idaho, Maryland, Minnesota, Montana, New Mexico, and North
and South Carolina for 1937 were either above or approached the 1929 figure. The "real" income per person, i. e., dollar income adjusted for living costs, for
these States in the later year was higher than in 1929.
On the other hand, Alabama, Arkansas, Illinois, Missouri, Nebraska, North and South Dakota, and Oklahoma had returned by 1937 only to levels between 68
percent and 77 percent of their 1929 averages.
SURVEY OF CURRENT BUSINESS
April 1940
most of the other items are related directly or indirectly to services rendered in the past.
The remaining two types of income payments are
characterized by an element of return on invested capital. Entrepreneurial withdrawals are the sums taken
by self-employed individuals who are owners and
operators of unincorporated enterprises. These withdrawals include the earnings of the individual for his
labor and management, as well as return on invested
capital. The bulk of this item comes from farming
and the practice of service professions, and in these
fields withdrawals are held equivalent to net incomes;
in other lines the greater importance of working capital
requirements in the conduct of business tends to make
withdrawals greater than net income in poorer years
and less than net income in better years. Dividends,
interest, and net rents and royalties are various forms
of return on invested capital arising from equity and
creditor participation and direct ownership. Rent and
royalty returns are net after deduction for expenses of
ownership, and interest items represent payments on
long-term obligations only.
Basic data have been drawn from a large number of
sources. Reports of the Bureau of the Census cover
about half of the salary and wage items in 1 or more
years, and pay-roll indexes prepared by the United
States Bureau of Labor Statistics are used extensively
for interpolation and extrapolation. Questionnaire
surveys conducted by the National Income Division
and data from the Bureau of Agricultural Economics,
Office of Education, Bureau of Internal Revenue, Civil
Service Commission, and many other public and private
11
organizations were utilized in making these estimates.
In general, these State estimates are based upon national
total figures developed over a period of years in the
preparation of official estimates of national income.1
Income payments differ from national income primarily by the inclusion only in national income of
certain items which are not actual payments received
by individuals and the inclusion only in payments of
items which do not represent returns for labor or capital
services currently rendered. Principal items of income
payments not included in national income are direct
relief, veterans' pensions and adjusted service benefits,
and benefit payments under Social Security legislation.
Items covered in national income but not in income
payments include business savings (which were positive
only in 1929) and contributions by both employees and
employers under social security legislation.
Income Payments by Regions.
An examination of table 6 and figure 1 shows at
once a relationship between urbanization and income
level, and regional variations in income trends, averages,
and composition. Analysis by regions is based upon
homogeneity of a degree and is particularly dictated by
space limitations in this article, but the general approach may be applied profitably in examining the
characteristics and development of particular States
either singly or in other groups. Groupings here
employed are based upon general similarity rather than
any single specific criterion. Variation within regions
1
For a discussion of sources and methods beyond the scope of this article, see
Notional Income in the United States, 1929-85. The concept of income payments is
discussed at length in Monthly Income Payments in the United States, 1929-40.
Table 5.—Income Payments in the Continental United States, 1929-38
Item
Total income payments
millions of dollars
Net salaries and wages
do...
Other labor income
do-..
Entrepreneurial withdrawals
do_-.
Dividends, interest, and net rents and royalties..
do...
Population.
,__
thousands.
Per capita payments
1929
1930
1931
1932
1933
1934
1935
1936
1937
82,494
52, 347
1,042
14,195
14,910
75,095
47,642
1,137
11,979
14,337
63,880
39,997
2,257
9,410
12,216
49, 843
31,008
1,757
7,255
9,823
47,267
28,483
2,272
7,751
8,761
54,645
32, 334
3,169
9,501
9,641
59, 240
35,203
3,433
10,709
9,895
39, 226
5,584
12,213
11,873
73,133
43, 543
3,904
12,969
12,717
67,027
39, 603
4,861
11,788
10, 775
121,526
$679
123,091
$610
124,113
$515
124,974
$399
125, 770
$376
126,626
$432
127,521
$465
128,429
$536
129,257
$566
130,215
$515
1938
Percentages of 1929
Total income payments
Net salaries and wages
Other labor income
Entrepreneurial withdrawals
Dividends, interest, and net rents and royalties
Population
Per capita payments
___
_.
100.0
100.0
100.0
100.0
100.0
91.0
91.0
109.1
84.4
96.2
77.4
76.4
216.6
66.3
81.9
60.4
59.2
168.6
51.1
65.9
57.3
54.4
218.0
54.6
58.8
66.2
61.8
304.1
66.9
64.7
71.8
67.2
329.5
75.4
66.4
83.5
74.9
535.9
86.0
79.6
88.7
83.2
374.7
91.4
85.3
81.3
75.7
466.5
83.0
72.3
100.0
100.0
101.3
89.8
102.1
75.8
102.8
58.8
103.5
55.4
104.2
63.6
104.9
68.5
105.7
78.9
106.4
83.4
107.1
75.8
57.0
59.6
Percentages of total income payments
Net salaries and wages
Other labor income
Entrepreneurial withdrawals
Dividends, interest, and net rents and royalties
Salaries and wages and other labor income
_
62.2
63.4
1.5
3.5
3.5
4.8
5.8
5.8
8.1
5.3
16.0
19.1
14.8
19.1
14.6
19.7
16.4
18.5
17.4
17.6
18.1
16.7
17.7
17.2
17.7
17.4
59.1
7.2
17.6
16.1
64.8
64.9
66.1
65.7
65.1
65.0
65.2
65.1
64.9
66.3
62.6
60.3
59.2
59.4
63.5
1.3
17.2
18.0
12
SUEVEY OF CURRENT BUSINESS
April 1940
1
Table 6.—Analysis of Income Payments by Regions, Selected Years In the Period 1929-38
1930
Population
Region 1
Ratio of per capita pay- Income composition, 1938: PerRange of ments: region to nation
cent distribution
State per
capita
income
payments
DiviSala- Other Entrer
i- dends,
1938 in 1938 1929 1933 1937 1938 ries and labor prenu
al
withinterest,
wages income drawals etc.
Indexes of per capita income
payments, 1929—100
Per
capita
income
Percent
Total in cities pay(mil25,000 ments 1932
lions) of
and up (dollars)
1933
1936
1937
Total continental United States- _ -
122.8
40.1
610
58.8
55.4
78.9
83.4
Northeastern States
.
North central—industrial States
North central—industrial and agricultural States
.
_.
North central—agricultural States
Southeastern States
South Central States
Western States
27.2
20.9
63.8
47.9
910
696
65.5
55.3
60.1
51.5
77.6
72.6
81.1
77.1
20.2
7.1
13.4
22.1
11.9
45.3
17.3
17.6
19.3
41.3
600
511
318
316
725
54.8
50.3
59.1
54.3
59.3
51.6
53.6
58.1
52.2
56.8
82.6
79.1
88.4
79.3
85.1
2 205-822
1.00
1.00
1.00
1.00
59.1
7.2
17.6
16.1
74.7 2 437-822
434-599
68.8
89.1 78.0
454-577
78.6 74.3
296-443
92.5 85.8
249-454
84.2 78.8
205-399
90. C 82.9
409-799
1.43
1.15
1.55
1.07
1.39
1.06
1.40
1.04
60.7
61.6
6.5
7.9
12.1
14.1
20.7
16.4
1.02
.80
.55
.57
1.18
.95
3.77
.57
.54
1.21
1.09
<.75
.61
.58
1.27
1.04
.78
.62
.59
1.29
61.4
48.0
58.9
53.0
57.6
8.4
7.4
6.7
7.2
7.2
17.2
34.6
22.4
26.5
20.0
13.0
10.0
12.0
13.3
15.2
75.8
1
Northeastern States: Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut, New York, New Jersey, Delaware, Maryland, and District of
Columbia. North central—industrial States: Pennsylvania, Illinois, Missouri. North central—industrial and agricultural States: Ohio, Indiana, Michigan, Wisconsin,
Minnesota. North central—agricultural States: Iowa, North Dakota, South Dakota, Nebraska, Kansas. Southeastern States: Virginia, West Virginia, North Carolina,
South Carolina, Georgia, Florida. South Central States: Kentucky, Tennessee, Alabama, Mississippi, Arkansas, Louisiana, Oklahoma, Texas. Western States: Montana,
Idaho,
Wyoming, Colorado, New Mexico, Arizona, Utah, Nevada, Washington, Oregon, California
2
Per capita for District of Columbia is $1,199. See text.
31932 ratio is 0.6S.
* 1936 ratio is 0.80.
is often significant and some indication of the extent
thereof is given in the column specifying ranges of per
capita incomes in 1938.
The Northeastern States are characterized by a high
level of per capita income and high urbanization.
Other labor income tends to be a lower percentage of
total payments than in any other region, entrepreneurial
withdrawals are relatively less important than elsewhere, and return on capital is a higher proportion of
the total. Year-to-year changes in payments volume
are less marked than for the Nation as a wThole.
The pattern and behavior of income payments
reflect the stage of economic development in the region.
Such factors as specialization and the ownership of
capital employed both within the region and elsewiiere
contribute heavily to high urbanization and high per
capita income in the Northeastern States. Other
labor income is a lower percentage of total payments
because the region fared better in the poorer years of
the period, and the low proportion of total payments
appearing in the form of entrepreneurial withdrawals
measures principally the fact that the farmer is a less
important producer in the economy of this region.
The North Central industrial States 2 exhibit average income levels and moderately high urbanization.
Salaries and wages and other labor income are more important as sources of income payments and entrepreneurial withdrawals are less important than the proportion for the Nation. There is a definite tendency for
this area to claim a declining proportion of total income
payments for the country as a whole, but this declining
proportion may be primarily a reflection of more rapid
development in other regions.
* The line of demarcation between this group and those identified as the North
Central industrial and agricultural States is less marked than the recognizable differences between other regions, but income patterns in Ohio and Michigan, for instance,
are sufficiently different from those in Missouri to validate the grouping here employed. Note in table 4 that the ratio of per capita income in the States to the
national figure is higher in 1937 in every State in the "industrial and agricultural"
group than the figures expressing this relationship for 1929 where it is lower for each
State in the "industrial" group.
Income levels and urbanization for the North Central
industrial and agricultural States are of about the same
magnitude as in the more industrialized States in this
portion of the country, and salary and wage payments
and other labor income are here also more important
than for all States combined, but capital return items
are below the national level. The position of the region
relative to all other regions seems to be improving
gradually, since per capita income moved from 102
percent of the national average in 1929 to 109 percent
in 1937. The so-called heavy industries are more important here than in the Northeastern States, and
agriculture plays a greater part in the economy of this
region. These two factors combine to produce the
greater fluctuations noted for this area in table 6 in
comparison with variations in the Northeastern States.
Urbanization in the North Central agricultural
States is low, and per capita income is well under the
average. Entrepreneurial withdrawals are of nearly
twice their average importance because of the dominance of agriculture. Salaries and wages and capital
return are lower relative to total payments than in any
of the other areas. Cyclical changes were more violent
than those displayed in the national pattern and timing
was somewhat different; per capita income was cut in
half between 1929 and 1932, improved between 1933
and 1936, and declined in the last 2 years of the period.
The record of the region is largely the record of agriculture, and it was heavily influenced by the wide fluctuations in the prices of agricultural commodities, drought
conditions, and Government crop-control programs
which characterized all or part of the 10-year period.
Per capita incomes in the Southeastern and South
Central States were the lowest of all the regions. Total
income payments in both areas had a relatively low
capital return content, and high proportions of entrepreneurial withdrawals reflect again the importance of the
farmer. Both areas exhibited some tendency to improve
relative to the national levels. This trend is particularly
13
SURVEY OF CURRENT BUSINESS
April 1940
apparent in the Southeastern States, where per capita
payments moved from 55 percent of the average for all
regions in 1929 to 61 percent in 1937 and 62 percent in
1938. Both regions are in a period of industrial development which will undoubtedly push per capita incomes to
higher levels in the future.
In the Western States, per capita income tends to be
high, although urbanization is below average except in
California. Income composition follows the national
pattern rather closely. This region also appears to be
improving relative to the country as a whole; per capita
income was only 18 percent above the national level in
1929 but advanced to 29 percent above the average for
all regions in 1938.
This brief review indicates but a few of the major
points of difference between regions, and incorporates
only the concept of urbanization from among all of the
important factors related to the levels, composition,
and trends of income payments. Such population
characteristics as age and racial distributions are also
important.
Of the total population of the State of New York
in 1930, 61 percent were between 20 and 64 years of
age, whereas the comparable figure for South Carolina
was only 46 percent. These may be presumed to be
the years of greatest income-earning capacity and some
of the difference between the per capita incomes in the
two States undoubtedly reflects the difference in age
distributions of the inhabitants. Similarly, native
white population in Indiana was 92 percent of total
population in 1930, and the difference between average
income in that State and per capita income in Alabama, for example, where the comparable figure was
64 percent, may trace in some measure to differences
in racial composition. Such qualitative factors are
important in any analysis of differences in levels,
trends, and composition of income payments.
One further consideration is important where these
data are to be used for marketing control or similar
studies of primarily a fiscal nature: the relative market
for luxury items is probably not measured directly by
the relationship of total income payments in two different
States. Necessities tend to have a prior claim against
income payments, and luxuries would be purchasable
only after requirements for necessities have been met, so
that a greater proportion of total income payments would
probably be used in the purchase of luxury goods by
residents of States with higher per capita incomes.
Determination of what might be termed the relative
necessity—luxury characteristics of a particular item
will control the per capita amount of income to which
there are prior or more important claims.
Table 7.—Income Payments , by Type of Payment and by States, 1929-38
Millions of dollars]
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
Type of payment
Arizona
Alabama
Total
Salaries and wages
Other labor income
Entrepreneurial withdrawals
Dividends, interest, etc
848
642
507
423
393
536
566
685
708
659
257
222
182
136
132
162
182
211
242
227
511
13
246
78
441
14
117
70
349
28
72
58
264
21
97
41
251
30
74
38
299
44
150
43
318
41
162
45
373
64
192
56
414
43
187
64
376
57
169
57
173
5
52
27
149
5
43
25
121
9
31
21
93
7
22
14
83
11
25
13
95
19
32
16
108
18
38
18
122
26
40
23
146
18
51
27
130
22
51
24
Arkansas
Total--.
Salaries a n d w a g e s . .__
O t h e r labor income _ _
Entrepreneurial withdrawals
Dividends, interest, etc__
California
555
412
332
298
275
355
381
455
465
450 5,406 5,095 4,405 3,506 3,326 3,731 4,141 4,962 5,317
4,956
290
15
201
49
254
16
104
38
198
33
71
30
153
30
92
23
144
27
80
24
164
37
124
30
175
39
137
30
194
57
166
38
208
42
174
41
198 3,222 3,077 2,619 2,117 1,920 2,104 2,325 2,648 2,957
66
178
234
72
142
107
132
260
46
354
930
720
811
879
732
587
623
170
954 1,038
729
771 1,006 1,062
912
695
651
36 1,188 1,067
2,826
311
909
910
Connecticut
Colorado
Total
Salaries and wages
Other labor income . _ _
Entrepreneurial withdrawals
Dividends, interest, etc
642
626
528
393
383
435
477
573
629
572 1,473
385
11
146
100
353
11
166
96
299
22
124
83
240
17
68
68
215
23
86
59
235
36
96
68
252
41
110
74
289
64
124
96
321
51
157
100
300
53
135
84
968
14
129
362
1,369
1,211
951
907 1,023
858
15
121
375
733
29
109
340
566
22
87
276
547
29
83
248
Total
Total
. . .
1,279
1,382
1,218
684
45
103
275
767
72
117
323
867
48
128
339
754
68
122
274
253
220
203
158
152
174
196
231
233
198
624
637
615
550
486
546
620
738
776
760'
134
2
23
94
123
2
20
75
108
4
17
74
87
3
14
54
82
5
12
53
91
5
17
61
97
4
21
74
112
8
24
87
107
5
25
96
95
6
24
73
442
11
61
110
444
12
60
121
435
21
54
105
390
17
46
97
335
19
43
89
373
27
45
101
438
28
48
106
501
40
55
142
546
30
61
139
543
34
61
122
Georgia
Florida
Salaries and wages
Other labor income _ ______
Entrepreneurial withdrawals
Dividends, interest, etc
1,107
District of Columbia
Delaware
Salaries and wages
Other labor income . _ _
_ _
Entrepreneurial withdrawals
Dividends, interest, etc
617
41
96
269
737
672
590
475
447
551
612
741
813
773
965
807
680
564
556
699
765
889
914
870
453
11
146
127
407
11
142
112
349
23
127
91
287
17
95
76
260
27
91
69
310
38
117
86
344
34
130
104
393
58
150
140
436
41
165
171
427
52
150
144
595
15
262
93
538
16
166
87
463
34
105
78
366
23
110
65
354
30
110
62
405
47
176
71
441
49
199
76
488
74
227
100
536
47
223
108
505
59
216
90
14
SURVEY OF CURRENT BUSINESS
April 1940
Table 7.—Income Payments, by Type of Payment and by States, 1929-38—Continued
1929
1930 1931 1932 1933 1934 1935 1936
1937
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
Type of payment
Idaho
Total
Salaries and wages
Other labor income
Entrepreneurial withdrawal:
Dividends, interest, etc
237
214
169
134
121
3
76
14
99
124
135
Illinois
167
187
222
246
220
716 5,885 4,742 3,542 3,326 3,793 4,127 4,864 5,260
4,747
108
23
75
16
123
14
92
17
118
16
71
15
3,858 3,122 2,338 2,130 2,427 2,651 2,949 3,305
148
74
143
221
169
218
376
270
795
623
562
463
637
528
726
777
583
598
621
1,158
849
499
813
908
2,948
317
715
767
Indiana
Total
Salaries and wages
Other labor income
Entrepreneurial withdrawals
Dividends, interest, etc
Iowa
1,896 1,659 1,389 1,050 1,027 1, 230 1,361
1,306 1,122
33
35
340
293
217
209
918
66
233
172
682
53
180
135
648
56
204
119
766
75
253
136
849
79
288
145
1,650
1,782 1.584
991 1,134
137
95
334
353
188
200
953
139
319
173
366 1,332 1,060
714
752
859
975 1,158 1,144
642
21
522
147
438
29
157
90
377
34
268
73
414
44
310
91
450
44
388
93
492
86
460
120
529
54
442
119
677
19
513
157
554
42
348
116
1,032
957
781
557
534
19
350
129
491
20
341
105
418
36
239
335
24
131
67
557
29
169
61
651
705
811
847
325
39
341
45
238
81
372
73
262
104
408
48
278
113
78
771
961
826
692
568
522
654
717
846
893
51
219
102
560
18
256
127
505
20
179
122
420
41
132
99
322
31
131
84
308
36
101
77
349
41
176
88
389
46
191
91
437
79
223
107
473
57
255
108
441
62
234
93
Louisiana
Total
Salaries and wages
Other labor income
Entrepreneurial withdrawals
Dividends, interest, etc
Maine
864
762
666
526
498
602
648
756
811
807
463
453
403
320
310
341
370
414
429
389
531
13
196
124
499
14
133
116
420
31
113
102
327
26
92
81
306
34
91
67
343
42
134
83
371
41
148
88
405
65
174
112
467
46
169
129
464
57
172
114
285
9
84
85
270
10
87
86
240
17
62
84
192
13
47
68
184
15
49
62
204
19
53
65
216
21
67
66
234
33
73
74
256
19
77
77
231
27
65
999
681 3,483 3,164 2,606 2,389 2,599 2,740 3,040 3,148
2,906
53
129
209
2,207 1,950 1,547 1,423 1,542 1,664 1,798 1,933
145
168 254
52
60
112
98
110
183
244 265 287
345 317 286
238 219
306
643 701
875
723 637
726
816
1,765
140
293
608
Maryland
Total
Salaries and wages
Other labor income
Entrepreneurial withdrawals
Dividends, interest, etc
Massachusetts
1,112
1,073
953
783
732
825
883 1,003
706
13
136
257
659
14
120
280
575
29
106
243
463
23
88
209
429
28
91
184
479
42
106
198
524
38
117
204
586
63
133
221
1,092
661
42
142
247
Michigan
Total.
Salaries and wages
Other labor income
Entrepreneurial withdrawals
Dividends, interest, etc.
3,610
3,061
Minnesota
2,507 1,903 1,665 2,163 2,497 2,986
3,355
2,808
2,498 2,111 1,676 1,313 1,155 1,489 1 732 1,971 2,346 1,824
243
40
45
101
77
92 125 122
196
123
375
436
374
305 246 242 303 347
405
447
636
531
425 267 176 246 296
414
439
461 1,381 1,201
904
879 1,019 1,135 1,359 1,417
819
22
357
183
578
34
162
130
511
41
211
116
857
20
390
194
717
50
268
166
Total
Salaries and wages
Other labor income
Entrepreneurial withdrawals
.Dividends, interest, etc
688
139
365
167
770
99
378
170
745
119
346
146
1,741
407
290
263
253
332
356
453
435
417 2,228 2,065 1,756 1,370 1,289 1,457 1,568 1,807 1,865
257
9
226
10
133
38
178
22
62
28
140
17
83
23
126
21
86
20
142
30
134
26
151
30
148
27
175
49
196
33
191
36
172
36
178 1,420 1,315 1,115
39
30
67
167
453
386
299
33
325
331
275
46
48
231
222
785
52
257
195
863
75
299
220
916 1,004 1,084
84
152
104
335
365
377
233
286
300
1,028
122
339
252
Nebraska
350
286
240
173
183
247
289
320
327
282
789
793
662
408
451
522
525
633
601
546
213
5
101
31
181
5
73
27
151
10
56
23
118
8
29
18
105
12
49
17
126
21
79
21
150
21
98
20
170
34
91
25
185
26
89
27
164
30
64
24
370
10
316
93
354
10
347
82
313
22
254
73
248
14
95
51
218
15
171
47
240
26
202
54
247
31
190
57
267
53
248
65
279
40
217
65
273
43
173
57
New Hampshire
Nevada
Total
Salaries and wages
Other labor income
Entrepreneurial withdrawals...
Dividends, interest, etc
620
82
300
133
535
Montana
Total.
Salaries and wages
Other labor income
_...
Entrepreneurial withdrawals
Dividends, interest, etc
565
77
245
132
Missouri
Mississippi
Total.
Salaries and wages
Other labor income
Entrepreneurial withdrawals
Dividends, interest, etc
513
65
453
105
Kentucky
Kansas
Total
Salaries and wages
Other labor income
Entrepreneurial withdrawals
Dividends, interest, etc
1,138
78
73
67
51
49
58
69
78
91
304
285
261
207
202
230
240
260
275
256
51
1
17
9
48
1
15
9
43
2
12
10
37
1
6
7
32
2
9
6
37
4
10
7
41
4
13
11
46
6
14
12
56
4
16
15
206
5
36
57
191
5
31
58
169
9
27
56
127
7
23
50
126
8
22
46
142
12
27
49
151
11
30
48
153
20
33
54
168
14
34
59
154
18
33
51
New Jersey
3,254
3,133
New Mexico
2, 812 2,604
162
147
127
97
101
129
143
172
181
173
1,450 1,592 1,766 1,638
162
117
197
142
325
275
313
332
479
508
559
572
93
3
52
14
87
3
43
14
77
7
30
13
63
5
19
10
59
6
27
9
65
14
40
10
74
16
40
13
86
23
48
15
93
15
55
18
89
16
52
16
2,770 2,235 2,013 2,222 2, 350 2,661
2,173 2, 033 1, 734 1,380 1,219 1,355
34
37
75
55
73 111
366
349
302 245 238 258
681
714
659 555 483 498
15
SURVEY OF CURRENT BUSINESS
April 1940
Table 7.—Income Payments, by Type of Payment and by States, 1929-38—Continued
1930
1931
1932
1933
1934
1935
1936
1937
1938
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
Type of payment
New York
Total
Salaries and wages
Other labor income
Entrepreneurial withdrawals
Dividends, interest, etc
14,038 13,391 11,617 9,176
8,766
145
1,711
3,416
8,291
162
1,579
3, 359
North Carolina
8,502 9,398 9,871
7,059 5, 386 4,875 5,451 5,805
246
349
549
295
485
993 1,102 1,222
1,349 1,060
2,914 2,484 2,285 2,360 2,295
11,043 11,515 10,684
992
828
714
589
637
822
870
993 1,063
994
6,361
675
1,376
2,272
595
11
283
103
550
13
167
98
466
31
129
88
367
21
128
73
376
29
157
75
432
39
263
88
469
39
268
94
526
67
282
118
583
40
313
127
556
56
275
107
6,296
827
1,369
2,551
6,766
589
1,445
2,715
North Dakota
Total
Salaries and wages
__
Other labor income
Entrepreneurial withdrawals
Dividends, interest, etc
Ohio
300
248
178
126
149
171
191
225
234
210 4,940 4 369 3,678 2,751 2,653 3,142 3,470 4,115 4,468
3,902
135
4
145
16
122
4
107
15
105
9
50
14
86
7
21
12
74
8
56
11
80
22
58
11
86
20
74
11
91
35
86
13
97
28
96
13
97 3,474 3 004 2,457 1,811 1,750 2,045 2,269 2,595 2 929
26
71
74 132
99 142 187 197 336 227
75
528 444 353 353 448 516 587 641
614
12
781
763 645 488 408 462 488 597 671
2, 419
310
568
575
Oregon
Oklahoma
Total
,
Salaries and wages
__
Other labor income
Entrepreneurial withdrawals
Dividends, interest, etc
1,098
884
697
556
569
630
613
15
313
157
542
17
186
139
422
40
143
92
331
36
117
72
304
35
159
71
331
47
162
90
701
797
867
637
561
475
370
351
420
474
578
614
574
350
48
210
93
379
91
207
120
422
70
237
138
411
9
151
66
377
10
112
62
316
21
87
51
244
15
71
40
222
20
70
39
254
28
98
40
288
28
116
42
331
51
141
55
375
33
145
61
357
42
122
53
74
212
124
Pennsylvania
Total
Salaries and wages
Other labor income
Entrepreneurial withdrawals
Dividends, interest, etc
Rhode Island
7,177
6,638
5,612 4,258 3,999 4,603 4,934
5,716
6,092
5,358
573
531
482
394
365
394
424
468
494
448
4,906
4,476
3,663 2,744 2,556 2,966 3,149
3,539
3,950
82
763
86
676
164
568
1,426
1,400
1,217
3,322
493
621
922
389
8
48
128
348
9
44
130
299
19
38
126
231
19
32
112
223
13
29
100
242
14
32
106
270
18
35
101
288
32
39
109
314
24
42
114
278
37
39
94
114
453
947
191
416
836
263
489
885
366
330
507
677
550
615
905 1,055 1,099
South Carolina
Total..
Salaries and wages
Other labor income
Entrepreneurial withdrawals
Dividends, interest, etc
South Dakota
475
394
339
282
301
380
406
477
499
471
315
305
249
135
159
189
203
251
227
228
287
7
149
32
267
8
85
34
229
18
62
30
186
11
61
24
189
23
65
24
218
28
106
28
233
26
118
29
263
48
129
37
294
31
135
39
275
39
122
35
134
4
157
20
129
5
151
20
112
11
109
17
91
7
24
13
79
12
56
12
82
29
65
13
91
22
76
14
98
36
102
15
103
29
80
15
106
29
2,491
Tennessee
Total....
Salaries and wages
Other labor income
Entrepreneurial withdrawals
Dividends, interest, etc
Texas
916
772
639
522
505
664
717
838
880
819 2,672 2,303 1,922 1,587 1,585 1,857 2,004 2,348 2,637
571
16
229
100
523
18
136
95
424
36
101
78
326
28
108
60
327
29
92
57
394
41
160
69
428
42
174
73
477
71
199
91
524
46
213
97
485 1,494 1,392 1,176
58
32
34
79
194
750 518 381
82
396 359 286
947
55
349
236
Utah
Total
Salaries and wages..
Other labor income
Entrepreneurial withdrawals
Dividends, interest, etc
Total
280
253
212
157
158
181
205
237
259
246
217
200
176
141
132
145
158
180
181
169
184
3
61
32
162
3
55
33
134
7
42
29
104
6
26
21
95
11
33
19
108
17
36
20
125
18
42
20
137
24
49
27
158
17
56
28
147
23
51
25
129
3
48
37
118
4
40
38
102
6
33
35
79
5
28
29
73
6
27
26
77
8
33
27
87
7
38
26
96
14
41
29
104
8
38
31
94
11
36
Washington
994
889
787
672
622
754
820
949 1,001
952 1,130
645
14
227
108
606
16
153
114
530
35
116
106
433
22
126
91
406
25
107
84
458
36
162
98
498
38
180
104
550
70
203
126
583
49
198
122
606
42
210
143
749
15
220
146
1,027
841
650
626
731
803
990
1,032
993
432
25
113
80
392
35
125
74
444
45
158
84
496
49
174
84
572
635
618
15
190
134
557
33
144
107
203
119
203
128
182
113
1,683 1,389 1,061 1,010 1,164 1,323 1,567 1,664
,519
West Virginia
Total
--___.
Salaries and wages
_
Other labor income
Entrepreneurial withdrawals
Dividends, interest, etc
Wisconsin
792
702
604
472
464
575
615
728
768
687 1,906
582
10
114
86
529
11
78
84
443
23
69
69
335
16
67
54
331
32
54
47
400
37
82
56
427
37
92
59
480
67
104
77
528
43
112
85
450 1,197 1,048
61
24
26
105
411
349
71
274
260
Wyoming
Total
Salaries and wages
Other labor income
Entrepreneurial withdrawals
Dividends, interest, etc
964 1,034 1,165 1,331 1,319
132
100 103 180 122
612
490 550 584 698
428
303 317 419 486
Vermont
Virginia
Salaries and wages.._
Other labor income
Entrepreneurial withdrawals
Dividends, interest, etc
863
69
418
235
156
143
122
91
94
111
124
144
150
141
98
2
44
12
91
2
39
11
75
6
31
10
60
3
19
9
53
4
27
10
59
8
34
10
68
7
38
11
74
15
42
13
79
10
46
15
78
9
41
13
865
54
263
207
661
44
184
172
599
64
205
142
681
87
242
154
771
88
?93
171
862
141
356
208
983
98
364
219
123
317
186
16
SUEVEY OF CURKENT BUSINESS
April 1940
NEW OR REVISED SERIES
Table 18.—INDICATED EXPENDITURES FOR BUILDING
CONSTRUCTION (BASED ON BUILDING
PERMITS)l
[Monthly average 1929 = 100]
Year and month
January
February.-.
March
April
May
June
July
August
September-.
October
November-.
December..
I Residential
Total i
:
New
nonresibuilding
New
ber
con- Nofu mfamdential
struc- ilies pro- residenbuildtial
tion
ings
buildvided
ings
for
Additions,
alterations,
and
repairs
for
1929
Monthly average..
1930
Year and month
Residential
AddiTotal
New
tions,
building Number New nonresi- alteracondential tions,
struc- of fam- residen- buildand
ilies protial
tion
ings
repairs
vided
build-
73.7
85.7
68.1
51.7
70.2
64.4
51.7
35.9
63.7
61.6
44.8
30.2
81.3
107.9
89.6
74.3
95.0
115.2
95.2
66.1
2 69.8
2 55.6
2 50.1
2 88.3
2 92.9
ings
1934—Continued
August .
September.
October
November..
December..
14.1
12.3
16.0
13.7
9.3
7.6
7.4
9.9
8.2
5.4
5.4
5.7
6.8
5.9
4.0
17.0
12.6
16.4
16.1
10.2
34.1
32.0
43.5
31.2
23.2
Monthly average..
12.5
7.3
5.3
14.0
31.2
10.9
12.3
18.8
21.0
21.0
23.5
23.4
27.5
23.2
27.3
24.3
23.8
7.2
8.4
5.1
5.6
16.4
18.6
19.8
20.7
20.8
20.8
19.2
24.6
22.6
15.6
11.3
12.7
13.9
15.8
15.1
15.3
14.1
18.9
16.6
12.7
11.0
13.4
18.2
20.5
17.9
23.0
20.9
30.2
23.6
26.0
25.3
31.3
27.9
29.6
40.6
44.5
46.7
42.6
50.0
54.1
46.3
50.0
39.0
35.5
January
February...
March
April
May
June
July
August
September..
October
November..
December..
1935
January
34.2
29.4
64.3
55.1
43.0
34.7
51.8
57.5
February- _.
57.1
47.2
87.1
77.5
March
62.0
51.0
100.1
81.8
April
59.6
48.5
90.7
84.5
May
54.4
45.1
82.5
74.6
June
49.9
44.1
86.7
77.4 Monthly average..
July
21.4
13.1
42.2
17.9
21.8
48.7
43.4
67.2
58.6
August
1936
51.3
44.4
73.8
64.2
September..
16.2
24.4
24.0
19.0
40.8
58.3
44.9
53.5
58.1 January
October
21.0
21.6
36.1
17.9
15.4
52.9
42.5
54.4
37.8 February
November..
March
39.0
48.1
34.7
29.1
23.3
45.0
37.6
64.3
53.5
December..
April
54.5
28.5
32.4
31.6
25.2
51.4
73.0
59.3
Monthly average..
57.2
42.7
65.1 May
25.4
32.0
32.5
25.6
62.7
35.3
42.5
June
47.5
36.5
1931
64.1
25.7
42.0
51.6
41.8
43.4
55.5 July
39.1
30.8
January
70.3
27.7
38.8
40.8
33.4
43.8
48.6 August
40.3
30.3
37.9
February
59.0
25.1
34.0
September
38.1
29.4
76.4
58.0 October...
53.4
40.7
57.1
March
60.6
26.4
34.9
37.6
29.5
73.9
65.2 November
64.6
48.6
60.6
April
46.8
21.3
30.1
35.8
27.9
58.5
53.0
51.7
39.8
48.8
May
42.3
27.8
32.3
35.0
28.3
41.7
56.5 December
43.4
33.4
39.4
June
53.7
57.8 Monthly average..
35.8
27.6
41.7
27.3
34.7
27.7
33.3
53.7
July
63.9
48.3
36.6
33.5
47.3
August
1937
41.8
41.0
30.1
24.8
33.5
September
24.9
46.2
26.2
20.1
27.2
January
34.8
39.8
33. 7
25.4
30.8
October
25.6
60.3
34.5
38.1
29.2
32.7
33.6 February
23.8
19.0
26.2
November
37.1
65.1
46.0
March
51.4
40.3
32.9
27.3 April
14.7
11.8
22.3
December
34.7
76.1
47.2
52.0
41.6
31.0
69.2
39.5
49.8
48.7
May
38.9
30.5
40.4
Monthly average..
39.5
32.2
29.8
74.9
40.9
June
41.2
34.1
1932
30.8
69.1
35.8
July
31.8
25.7
10.2
25.8 August
14.4
25.0
January
34.0
73.3
37.7
33.3
25.9
9.1
26.7 September
16.5
13.0
February
30.0
64.6
34.8
32.7
25.7
27.0 October
18.1
15.4
10.7
March
36.5
51,7
33.4
28.7
21.7
32.0 November
25.0
9.7
13.4
April
22.9
47.2
26.8
26.2
20.4
27.3
39.3
7.9
11.3
May
40.8
55.4
40.1
December
37.9
29.5
28.2
24.6
7.9
10.6
June
22.8 Monthly average..
16.1
31.5
5.6
62.8
36.6
28.9
37.0
8.2
July
24.9
15.7
6.8
9.7
August
1938
21.7
11.4
7.5
10.8
September
36.3
48.8
45.3
69.8
46.5
22.8 January
12.6
6.6
9.5
October
29.1
49.5
26.7
23.1
15.5
14.9 February
21.8
4.9
6.4
November
25.4
54.7
32.3
March
36.5
26.7
13.7
17.3
3.6
5.0
December
29.0
63.3
36.1
April
39.4
28.9
20.4
54.7
32.1
May
20.3
24.0
7.5
10.6
41.2
30.1
Monthly average..
28.0
56.5
37.2
June
43.9
33.3
1933
29.3
54.8
42.4
55.1
41.9
26.8
16.2 July
3.4
4.9
January
28.0
56.5
41.4
August
55.0
40.7
8.9
14.2 September
4.6
5.6
February
30.5
52.9
41.2
55.2
39.3
6.9
20.9 October
4.2
7.2
March
36.4
59.6
42.7
49.9
36.2
9.9
22.6 November
4.6
7.4
April
33.4
45.9
38.7
47.6
34.2
33.8
29.8 December
8.1
11.9
May
40.9
44.2
38.5
39.8
29.0
11.5
33.3
8.8
12.3
June
53.5
30.6
33.4
46.4
38.0
10.9
26.7 Monthly average..
8.0
10.2
July
29.4
7.1
10.4
8.9
August
1939
25.5 J a n u a r y . .
8.6
12.8
11.8
September
39.7
49.5
32.7
49.0
40.9
30.1 February
5.2
6.5
13.1
October
24.4
52.7
39.3
59.4
39.6
18.3 March
8.6
12.1
10.3
November
34.2
61.8
46.6
62.1
43.6
23.5 April
4.6
6.7
13.8
December
29.0
68.0
43.5
57.1
40.4
32.7
67.6
53.8
May
77.8
55.7
24.2
14.1
6.3
8.8
Monthly average..
46.0
63.6
54.0
June
66.6
47.9
1934
38.7
58.6
49.5
July
64.3
46.2
24.2 August
10.5
3.7
January
31.7
65.5
53.2
77.6
55.9
22 2 September
10.3
3.2
3.8
February
41.2
57.4
47.9
59.0
42.1
27'. 0 October
10.9
5.7
7.2
March..
33.9
58.6
46.3
59.4
44.1
30.1 November
13.6
9.0
6.7
April
30.1
46.5
46.8
73.
6
50.4
36.4 December
20.4
10.2
7.3
May
24.9
38.5
40.5
67.0
44.8
34.4
12.6
7.2
5.3
June
57.4
33.9
45.3
64.4
46.9
35.8 Monthly average.
16.8
5.3
7.8
July
1 Compiled by the U S. Department of Labor, Bureau of Labor Statistics. At a later date, these indexes will be substituted for the data relating to building permits (number of buildings and value for new residential and new nonresidential buildings, and additions, alterations, and repairs) in 1,790 cities which are currently shown in the SURVEY
on p 21. The indexes offer a somewhat more satisfactory basis for the analysis of trends, in that they are available over a longer period; the discontinued series were available
onlv since 1936. and historical analysis required the linking of the statistics to earlier data for a smaller number of cities.
m
#
m
'The indexes are based on cities varying in number from 257 in 1929 to over 2,000 in 1939. Prior to 1933, only cities with populations of 25,000 or more were included; in 1933
the 10,000-25,000 population group was added, in 1936 cities having population of 2,500 or more were included, and beginning 1938, a small group having populations of from
1,000 to 2,500 was added. In 1938, the aggregate coverage was about 90 percent.
.
.
The 1929 base is derived from annual totals for 257 cities; monthly figures are available only beginning in September of that year. The indexes are derived by the linkrelative method to overcome the limitations of a shifting sample. Basic data from which the indexes are derived appear each month in "Building Construction," a publication of the Bureau of Labor Statistics.
2 Average for 4 months, September-December.
April 1940
17
SURVEY OF CURRENT BUSINESS
Table 19.—EMPLOYMENT AND PAY ROLLS IN NONMANUFACTURING INDUSTRIES
1
[Monthly average 1929 = 100]
1929
1930 1931
1933
1934
1935 1936 1937 1938
19391929
1930 I 1931 1932
1933
1935
1936
1937
1938
1939
Pay rolls
Employment
Month
1934
Total retail trade
i
January
February.-.
March
April
May
June
July
August
September..
October
November..
December..
99.0
96.4
97 5
98.6
99 4
100.0
98.1
98.7
99.9
101.4
102.3
108.9
96.5
94.3
94 4
95.2
95.0
93.5
91.4
89.6
91.8
92.7
93.1
98.7
89.2
86.7
86.4
87.8
87.6
87.3
84.0
81.2
82.5
84. C
83.4
89.2
79.1
77.3
77.2
77.0
75.7
74.6
71.6
70.3
72.4
74.1
73.1
78.5
69.6
68.3
67.0
71.2
70.2
71.3
70.1
73.7
78.7
81.0
81.5
87.4
78.0
77.9
79.7
80.9
82.0
82.1
79.4
78.6
82.3
83.3
84.7
92.2
80.6 83.3 88.8 87.5 85.4
80.6 82.9 88.7 86.1 84.9
81.7 84.7 91.6 86.5 86.9
85.0 87.9 92.0 91.0 88.5
83.9 87 9 93.0 87.0 88 8
84.1 88.3 93.5 86.8 89.4
82.0 86.6 91.3 84.6 87.2
81.0 86.0 90.0 83.6 86.3
84.5 89.8 94.0 87.6 90.5
86.3 91.6 95.3 88.7 91.7
87.2 93.0 94.9 89.8 93.3
95.6 102.6 103.9 100.9 104.2
97.6
95.5
97.2
99.1
99 6
101.1
100.4
99.0
101.2
102.4
100.9
106.1
95.0
93.4
93 6
94.4
Q4 4
94.3
90.6
87.2
88.8
89.3
88.4
91.7
84.2
82.5
82.9
83.1
82.8
82.4
79.4
76.1
76.4
76.6
75.8
78.3
69.8
67.2
66.8
65.8
63.8
61.1
57.8
55.7
57.1
58.1
56.9
59.0
53.3
51.1
48.7
51.4
51.3
52.3
52.0
55.2
59.1
61.4
61.4
64.6
59.6
59.7
60.9
62.8
63.7
64.3
63.4
62.0
64.6
66.1
66.4
71.2
64.8
65.0
66.3
68.7
68.4
69.2
67.7
66.8
70.1
70.9
71.2
77.1
69.1
68.8
70.8
72.8
73.5
74.2
72.9
72.4
74.7
76.6
78.6
84.6
76.4
76.3
79.3
80.9
82.8
83.6
82.2
81.7
83.7
85.3
84.4
89.9
78.6
76.8
77.0
80.5
78.5
77.8
76.3
74.9
77.2
78.8
79.4
87.4
77.6
76.5
77.7
79.6
79.9
81.1
79.5
78.0
80.9
83.2
83.6
91.8
Monthly average-
100.0
93.9
85.8
75.1
74.2
81.8
84.4
100.0
91.8
80.0
61.6
55.2
63.7
68.9
74.1
82.2
78.6
80.8
97.6 96.4 90.8
94.8 93.1 87.5
96.1 92.7 88.6
95.7 95.3 89.3
96.7 94.2 89.0
97.6 93.7 88.4
Qfi 8 88.0 82.7
93.7 84.1 79.1
98.1 89.3 84.4
102.5 92.9 85.8
105.6 95.0 87.4
124. 7 109.2 101.3
78.5
73.5
73.5
72.6
70.8
67.9
61.5
58.7
64.5
67.8
67.9
79.3
61.4
57.6
54.1
61.7
59.8
60.8
57.1
61.9
71.6
74.7
75.1
89.1
69.6 69.8 72.4 79.6 80.7
67.5 68.9 70.1 78.7 77.9
69.7 70.6 73.3 83.5 78.6
72.0 74.6 77.3 84.9 86.3
72.7 72.8 76.8 87.2 80.9
72.1 73.3 77.5 88.3 80.9
67.8 69.0 73.9 83.9 77.5
65.3 66.7 73.0 82.2 76.0
71.7 73 6 78 8 88 3 81.9
74.7 76.1 83.0 91.7 84.7
77.1 78.3 86.9 92.6 88.0
95.4 100.1 111.4 118.8 118.6
80.7
78.1
80.3
83.5
83.6
85.1
81.3
78.6
85.3
88.5
92.4
125.8
100.0
87.9
69.7
65.4
73.0
74.5
79.5
88.3
84.3
86.9
102.6 99.9
102.6 100.9
105.4 103.7
104.8 98.6
106.2 99.5
109.2 98.8
108.5 98.5
108.6 96.8
107.9 95.1
106.5 94.4
105.1 94.6
107.9 93.2
89.9
87.8
87.1
83.9
85.1
80.8
79.1
76.5
75.1
74.5
73.5
73.3
73.1
71.8
72.3
69.6
70.1
69.8
70.0
70.5
71.3
75.5
73.7
73.9
72.9
73.0
74.4
75.6
76.0
76.1
79.1
78.1
77.6
78.4
77.7
77.9
77.9
78.0
79.3
78.5
79.3
79.6
81.2
82.6
84.2
84.0
83.2
86.2
85.4
84.4
85.7
86.3
87.2
88.2
90.0
89.9
91.7
92.7
92.1
94.3
93.3
94.3
96.0
96.4
98.7
101.2
103.5
104.1
105.4
106.1
104.8
103.6
100.4
99.9
100.0
98.9
98.7
99.8
99.4
100.0
99.3
100.9
99.6
99.4
97.3
97.7
98.2
98.3
99.9
101.2
101 i
102*2
102*2
102.0
102 5
102.4
97.8
80.6
71.8
76.4
81.2
89.0 100.6
99.7
100.4
88.7
93.1
88.3
89.8
Retail trade, general merchandise
January
February...
March
April
May
June
July
August
September..
October
November..
December. .
98.7 95.6 92.0 84.8 76.3 83.8 82.6 83.5 90.0 87.0 86.6
94.7 91.9 89.2 81.2 73.7 81.9 81.6 81.0 89.3 84.9 85.2
96.3 91.7 90.7 82.6 71.6 86.2 84.0 86.3 95.4 86.5 89.1
95.7 95.6 92.9 82.8 82.7 87.4 90.7 92.9 94.7 98.2 92.7
97.2 94.2 92.6 82.3 79.2 88.9 86.8 90.6 97.3 88.4 92.8
96.6 91.3 91 ? 80.3 80.6 88.1 86.5 91.4 97.9 88.0 93.3
92 ?, 85.9 84.5 74.2 75.9 80.7 81.3 86.3 91.6 84.4 88.2
91.5 82.3 81.5 71.7 78.1 78.8 78.9 85.1 89.5 82.9 86.3
96.4 89.5 88.6 78.8 88.0 88.3 87.5 93 8 98.7 92.7 95.8
101.6 93.9 92.1 83.6 92.2 90.9 92.2 98.6 102.6 95.2 98.9
107.7 97.2 94.1 84.6 95.0 96.7 96.5 103.6 104.1 100.1 105.9
131.4 117.9 116.1 104.4 117.6 125.2 126.9 137.9 140.4 139.5 146.4
Monthly average.
100.0
93.9
92.1
82.6
84.2
89.7
89.6
94.3
99.3
94.0
96.8
93.7
Electric light and power
January
February.....
March.
April.
May
June
July
August
September
October
November.
December
94.3
94.2
94.1
97.1
99.2
99.9
102.0
104.3
104.2
104.0
103.5
103.3
Monthly average
100.0 105.0
102.3 100.9
101.8 99.3
102.6 98.0
103.6 97.8
105.3 98.1
106.4 97.5
107.7 97.1
108.2 96.2
106.9 95.1
105.6 93.6
104.9 92.2
104.5 91.3
90.4
88.2
86.6
85.3
84.1
82.8
81.6
80.8
80.5
78.9
78.1
77.4
77.1
76.7
76.1
76.0
76.2
76.0
76.2
76.5
78.1
79.5
79.7
79.8
78.7
77.9
78.1
78.6
79.2
79.8
80.6
81.3
81.3
81.0
80.8
80.2
79.6
79.2
79.4
79.4
79.9
80.4
81.3
83.0
83.3
83.5
84.0
83.4
82.7
82.6
83.1
84.4
85.3
86.4
87.8
89.0
89.7
89.9
89.7
89.8
88.9
89.1
89.4
89.9
91.3
93.0
94.4
95.1
95.5
95.0
94.0
92.9
91.1
90.1
89.5
89.1
89.0
89.4
89.3
89.7
89.4
89.4
88.9
88.5
87.4
86.9
87.0
87.7
88.2
89.2
90.0
90.6
90.6
90.4
90.3
90.1
93.1
92.8
96.0
96.8
98.8
99.7
101.3
103.0
105.0
104.1
102.9
106.4
96.4
82.9
77.3
79.8
81.4
86.7
92.4
89.5
89.0
100.0 106.3
Street railways and busses
January
February..
March
April
May...
June
July
August
September
October..November
December.-
99.1 95.6
97.8 94.9
98.6 95.6
100.5 95.4
100.7 94.9
102.0 95.0
102.0 92.8
101.0 91.8
100.4 91.0
L5 89.6
i.3 88.7
97.4
86.9
86.7
86.5
86.8
85.9
85.1
85.1
84.1
83.4
82.2
81.1
79.7
79.1
78.5
77.2
77.5
76.4
76.1
75.3
73.8
73.3
72.2
72.0
71.8
71.1
71.1
70.6
70.3
70.2
70.3
70.4
70.7
70.9
72.0
72.6
72.6
72.3
73.0
73.7
74.4
74.8
75.5
75.6
75.5
75.2
75.1
74.9
74.4
74.7
74.7
75.0
75.3
75.6
75.8
75.7
75.6
75.5
75.7
75.8
75.5
75.8
76.8
76.6
76.8
77.2
77.5
78.2
78.3
78.9
79.4
79.4
79.2
79.2
79.3
79.8
80.0
80.4
80.4
80.7
80.7
81.0
80.8
80.5
80.3
79.6
78.4
78.1
78.3
77.8
77.3
77.0
76.3
76.0
76.8
76.3
76.2
76.0
76.1
76.3
75.9
76.3
76.8
76.5
76.6
76.6
77.0
76.8
76.4
98.5
97.6
98.5
99.6
101.1
101.4
.101. 5
101.7
101.2
100.1
98.7
100.0
98.0
96.0
96.0
97.5
96.3
97.1
95.1
91.8
90.2
88.8
87.8
88.2
85.2
86.7
87.8
86.2
84.7
84.2
82.4
80.7
79.9
78.1
79.0
77.3
74.8
73.9
73.0
71.3
71.3
69.3
65.5
62.9
61.6
60.5
60.8
61.3
60.2
59.8
58.8
57.3
57.6
57.1
56.4
57.2
56.7
58.7
58.6
58.8
58.3
59.2
61.3
62.0
62.1
62.4
62.8
61.8
61.3
61.8
60.9
61.4
61.7
62.2
62.6
62.4
62.7
62.7
62.3
62.3
62.9
63.1
62.8
65.1
63.9
67.1
66.8
65.0
65.2
65.7
65.3
65.3
65.2
66.6
68.5
68.5
66.9
67.6
68.3
68.5
69.0
70.0
69.8
72.0
70.5
70.4
70.8
71.0
69.7
69.4
69.2
69.2
70.1
68.6
67.8
68.4
67.1
67.5
67.4
68.6
70.0
68.7
69.3
68.4
68.9
70.0
69.4
69.8
69.2
71.2
69.4
69.6
Monthly average.
100.0
93.6
84.5
75.3
71.1
74.5
75.4
77.8
80.3
77.3
76.4
100.0
93.6
82.7
67.2
58.1
61.3
62.7
66.1
69.6
68.6
69.5
Telephone and telegraph
January
February
March
April
May..
June
July...
August
September
October
November.
December--.
94.3 101.6
95.3 100.2
96.5 99.4
97.8 98.9
100.4 99.7
101.5 99.8
102.6 100.0
103.7 98.8
102.5 96.8
101.9 94.5
01.9 93.0
101.8 91.6
90.5
89.2
88.6
88.1
87.4
86.9
86.6
85.9
85.0
84.1
83.5
83.1
83.0
82.0
81.7
81.2
80.6
79.9
79.1
78.1
77.4
76.2
75.6
74.9
74.7
74.0
73.3
72.4
70.3
69.4
68.7
68.3
68.5
69.0
69.2
69.7
70.5
70.1
70.4
70.6
70.6
70.8
71.4
71.5
71.4
70.8
70.4
70.2
71.1
70.6
70.4
70.3
70.6
70.9
71.0
71.2
71.1
70.7
70.6
70.4
70.9
70.7
71.0
71.7
72.5
73.0
74.0
74.4
74.7
74.8
74.7
74.6
75.4
75.8
76.5
77.7
78.8
79.6
80.8
80.9
80.9
80.7
80.0
79.1
78.9
76.8
76.0
75.9
76.1
75.9
76.0
75.9
76.0
75.8
75.4
75.3
75.1
74.3
74.4
75.1
75.8
76.4
76.5
76.6
76.4
76.5
76.1
75.8
94.5
93.0
98.7
98.3
99.4
100.0
104.1
101.8
100.4
105.1
101.2
103.9
105.1
101.9
105. 8
103.4
103.2
103.4
106.6
102.5
102.2
100.9
97.9
101.3
96.3
94.8
97.9
95.0
94.1
95.0
93.3
92.3
92.1
91.6
89.7
92.7
89.0
89.5
88.1
83.3
82.8
82.1
79.6
79.1
75.9
75.8
74.4
73.6
71.9 69.6 74.9 76.4
72.1 68.5 73.9 77.6
71.8 71.0 76.3 78.6
68.1 69.5 74.2 77.5
68.8 72.1 74.8 80.0
66.9 72.0 75.5 78.9
67.1 73.1 76.9 81.5
66.5 74.8 76.7 82.8
65.0 73.0 75.0 80.4
67.5 75.8 76.2 84.8
68.2 73.1 76.2 83.3
68.2 74.1 76.9 84.1
85.4 95.7
84.0 91.8
89.0 94.6
88.2 93.5
91.4 93.2
90.5 92.8
94.0 92.8
94.0 93.2
94.3 94.6
96.9 97.3
93.4 95.0
96.7 94.5
96.9
97.2
96.4
97.4
Monthly average
97.9
100.0 97.9
86.6
79.1
70.6
70.7
70.7
73.1
78.9
76.2
75.8
100.0 102.9
93.7
81.1
68.5
91.5
95.6
72.2
75.6
80.5
94.1
93.6
93.8
94.0
95.7
95.7
1
Revised series. Compiled by the U. S. Department of Labor, Bureau of Labor Statistics. The retail trade indexes have been adjusted to conform in general with the
levels indicated by the censuses of retail distribution of 1929, 1933, and 1935. At the same time, the method of weighting the subgroups which make up the totals was revised.
Data for the 3 public utilities have been adjusted to conform in general with the censuses of electrical industries for 1932 and 1937. In the electric light and power and street
railway industries, revisions resulted from changes in the composition of the sample used, in addition to the adjustments to census data. A complete description of the
revisions, together with data for other retail trade groups, is available upon request to the Bureau of Labor Statistics.
18
SURVEY OF CURRENT BUSINESS
April 1940
Table 20.—WHOLESALE PRICE OF CORN, NO. 3, YELLOW, CHICAGOl
[Dollars per bushel]
1913
January
February
March
April
May
June
July
August
September
October
November
December
1914
1915
1916
i
1917
1918
!
1919
1920
1921
1922
I
1923
!
1924
1925
i
1926
..
M o n t h l y average
January. _ _
February..
March
April
May
June
July
August
September
October
November
December.
Monthly avera;
.55
.50
i New series. Compiled by the U. S. Department of Agriculture, Bureau of Agricultural Economics. The selling price is weighted by the number of carlots sold at each
price as reported in the Chicago Daily Trade Bulletin. The annual average is an unweighted average of the monthly data. This series replaces the data for No. 3
yellow, Kansas City, formerly shown in the SURVEY. The Kansas City market is decreasing in importance and there are many months in which no transactions take place
in the discontinued grade.
Table 21.—SHIPMENTS OF ROLLED AND FINISHED STEEL
PRODUCTS—U. S. STEEL CORPORATION1
[Thousands of short tons]
Year
1902
1903
1904
1905
1906
1907
1908
1909
1910
1911
1912
1913
1914
1915
- --
Total Monthly
average
8 913
8 129
7 325
10,142
11 254
11 511
6 820
10 612
11 777
10 340
13 771
13,387
9,935
12 826
743
677
610
845
938
959
568
884
981
862
1,148
1,116
828
1 069
Total Monthly
average
Year
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928 . . _
-
17 105
16 919
15,570
13, 470
15 534
8 758
13 127
15 870
12 705
14 753
15 771
14, 310
15, 400
Month
January
February
March
April
May
June
1 425
1,410
1,297
1,123
1,294
730
1,094
1 322
1,059
1 229
1,314
1,112
1, 283
-
.
-.
July
Auaust
September. __. - . .
October
..
November
December.. . . . . .
Total
Monthly average...
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1,365
1,388
1,606
1,617
1,702
1,529
1,480
1.500
1,263
1,333
1,110
932
1,218
1,262
1,367
1,310
1,326
1,083
1,041
1,044
954
861
740
636
879
835
993
957
837
717
652
626
532
520
474
383
465
449
422
430
370
356
295
316
341
337
299
250
313
302
279
366
498
663
772
735
634
633
473
656
366
426
650
710
823
1,086
407
414
405
375
401
460
587
643
733
650
659
636
603
687
676
756
752
730
795
747
864
1,081
1,087
978
1,050
1,020
1,061
1,109
974
1,179
1,264
1,253
1,563
1,485
1,443
1,405
1,315
1,226
1,161
876
649
540
570
522
627
551
510
525
485
616
636
730
749
766
16,813 12, 798
8,399
4,324
6,354
6,501
700
360
529
542
1,401
1,066
8,086 11,905 14, 098
674
992
1939
871
747
845
772
796
808
745
886
1,087
1,346
1,406
1,444
7,316 11, 707
1,175
610
976
1 Revised series. These data represent shipments of rolled and finished steel products of the U. S. Steel Corporation in terms of net tons. Data formerly shown on a gross
tonnage basis have been converted to net tons in conformity with management operating statistics as they are now regularly compiled by the Corporation.
2 Totals 1929-39 include year-end adjustments not contained in monthly figures.
Table 22.—RAYON STOCKS1
Table 23.—WHOLESALE PRICE
OF
PORTLAND CEMENT x
[Millions of pounds]
[Monthly average 1926=100]
Month
1939
1930
1931
1932
1933
1931
1935
1936
1937
1938
January . .
February
March
April
May
June
July
August
September .
October
.._ November
December
21.1
22.7
24.3
26.5
27.7
28.5
31.0
31.5
29.7
28.7
31.4
33.0
32.7
29.3
26.6
21.6
19.6
19.8
19.3
19.1
20.1
23.5
25.9
28.0
29.5
30.5
31.1
33.7
37.4
36.9
32.0
21.4
13.9
10.4
9.8
10.2
12.4
16.5
24.0
21.4
14.1
9.7
6.4
4.8
4.1
4.5
7.5
11.6
11.9
11.9
15.5
19.1
21.4
21.4
21.9
24.2
26.6
25.3
25.4
22.7
17.9
20.1
28.3
35.1
37.1
37.5
35.9
30.8
25.8
25.1
26.4
25.4
26.1
25.9
27.5
28.2
29.9
27.7
21.7
15.1
13.3
11.8
8.5
3.9
4.0
3.5
3.5
3.5
3.2
3.3
4.6
6.9
13.9
28.4
44.5
56.8
59.9
61.1
64.4
65.9
67.8
67.0
53.6
41.1
34.6
36.1
40.0
39.5
39,5
39.6
41.4
43.4
41.7
33.3
26.4
19.3
13.1
9.4
7.7
6.4
Monthly av
28.0
23.8
24.7
11.4
20.6
28.8
20.0
14.7
52.6
26.8
i New series. Compiled by the Textile Economics Bureau, Inc., and published in
the Rayon Organon. Rayon stocks represent stocks of all finished rayon yarn, including viscose, cuproammonium, introcellulose and acetate (partially estimated)
held by producers. This poundage series replaces the data previously shown, which
were based on number of months supply. Data are based on reports from approximately 90 percent of the industry, with the remaining 10 percent estimated.
Year
Index
1926
1927
1928
1929
1930
1931
1932
100.0
95.4
92.5
89.0
89.8
74.8
74.3
Month
1933
1934
1935
1936
1937
January
February.-.
March
April
May
June
July
August
September..
October
NovemberDecember-.
83.2
83.5
83.7
83.8
83.5
83.4
90.7
93.5
93.5
92.7
92.9
93.0
93.4
93.4
93.3
92.5
92.4
93.2
93.2
93.2
93.2
93.2
93.2
93.2
93.0
92.7
92.8
93.0
93.2
93.0
93.0
93.0
92.3
92.1
92.4
92.3
92.5
92.4
92.4
92.4
92.4
92.4
92.4
92.4
92.4
92.4
92.1
90.3
89.3
89.3
89.1
89.1
89.1
89.0
88.9
88.8
88.6
88.3
88.8
89.7
90.1
89.9
91.0
91.0
90.7
90.7
90.6
90.6
M o n t h l y av
88.1
'3.1
92.7
92.2
89.0
90.3 I 91.3
1938
1939
90.6
91.2
91.5
91.5
91.5
91.5
91.5
91.3
91.3
91.3
91.3
91.3
1
Revised series. Compiled by the U. S. Department of Labor, Bureau of Labor
Statistics, and is based on wholesale prices of Portland cement, delivered at 48 cities.
This index replaces the former series shown on p. — which was based on an average
of maximum mill prices at 6 plants. The series is calculated from prices to dealers as
reported by manufacturers. Prices are per barrel, gross in cloth, with the cost of the
package and trade and cash discounts excluded, and are in carlot quantities, f. o. b.
car's destination. In constructing the index the price at each city was weighted by the
estimated consumption of cement in the area considered to be represented by the
price at that city.
19
SURVEY OF CURRENT BUSINESS
April 1940
Monthly Business Statistics
The data here are a continuation of the statistical series published in the 1938 supplement to the SURVEY OF
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.
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
1940
February
February
March
April
May
June
1940
July
August
September
Decem- JanuOctober November
ary
ber
BUSINESS INDEXES
INCOME PAYMENTS!
Adjusted index
1929=100
Total
mil. of doL.
Salaries and wages:
Adjusted index
1929=100
Total
mil. of dol.
Commodity-producing industries..do
Distributive industries
do
Service industries
do
Government
doWork-relief wages
doDirect and other relief
do
Social-security benefits and other labor income
mil. of dol. _
Dividends and interest
do
Entrepreneurial income and net rents and
royalties
mil. of doL.
Total nonagricultural income
do
Adjusted index of nonagricultural in
come
..1929=100.
p 5, 554
P86. 0
v 3, 682
v 1, 325
P870
P,831
P514
v 142
v 147
P455
v 1,175
p 5, 071
83.0
5,247
83.0
5,654
83.4
5,432
84.1
5,918
83.7
5,695
85.4
5,400
6,010
88.0
6,195
88.5
5,804
'89.5
' 6, 888
'89.5
6,065
81.0
3,550
1,212
849
799
510
180
90
81.4
3,598
1,235
862
806
520
175
87
82.8
3,665
1,281
874
815
530
165
85
82.8
3,516
1,271
868
810
422
145
85
84.0
3,560
1,318
871
813
423
135
87
84.5
3,692
1,357
892
821
507
115
87
86.6
3,858
1,434
922
835
539
128
87.3
3,834
1,421
911
839
531
132
87
' 3, 878
1,413
942
851
'534
138
87
'87.2
' 3, 721
' 1, 337
892
837
'517
'138
94
139
471
145
920
136
849
145
451
135
805
129
496
1,137
4,943
1,103
5,453
1,109
5,222
1,291
5,364
84.3
85.4
85.5
1,157
4,887
86.7
128
783
1,338
5,510
82.0
3,522
1,215
826
796
503
182
93
84.1
5,727
82.1
3,575
1,235
850
797
506
187
95
133
433
148
772
1,066
4,848
84.4
1,137
5,256
133
760
1,121
5,192
84.8
83.8
87.0
1,258
5,217
143
855
1,252
1,277
' 6, 306 ' 5, 516
132
1,514
'89.9
'89.8
INDUSTRIAL PRODUCTION
{Federal Reserve)
Combined index, unadjusted
1923-25 = 100.P110
99
95
100
112
97
124
120
124
117
v 109
Manufactures, unadjusted
do
99
100
110
95
96
121
122
97
123
116
v 104
85
84
99
83
Durable goods*
do
129
123
85
84
86
125
117
28
127
100
59
66
142
91
Automobiles
do
105
93
106
108
128
98
98
100
98
43
48
Cement
do
65
79
99
49
90
75
121
165
78
112
165
133
93
Glass, plate...
do
138
222
91
200
191
232
103
120
93
89
79
92
116
152
Iron and steel
do
93
87
152
138
155
111
119
108
107
111
v 114
122
Nondurable goods*
do
111
114
'106
106
116
122
' 131
'121
'105
'106
'•127
v 121
' 120
Leather and products
do
103
'114
'111
110
'126
r 113
217
221
215
211
202
233
Petroleum refiningf
do
222
211
214
229
201
208
122
123
112
102
109
126
110
111
Rubber tires and tubesf
do
118
118
115
114
104
80
91
86
92
118
84
83
102
Slaughtering and meat packing
do
97
111
119
84
81
112
121
105
104
117
103
115
Textiles
do
v 114
129
131
119
112
100
180
181
186
172
151
171
147
Tobacco manufactures
do
155
179
175
158
156
151
96
123
105
97
113
107
105
v 116
Minerals, unadjusted
do
132
127
' 120
102
88
53
72
51
73
44
P54
66
Anthracite
do
74
62
81
58
50
83
75
90
63
40
68
'84
P93
Bituminous coal
...do
104
102
' 101
88
77
26
159
187
132
82
150
0
Iron-ore shipments
do
0
218
130
0
0
0
0
68
67
71
80
65
75
Lead
do
81
72
86
79
88
70
70
129
179
173
177
178
166
Petroleum, crude
do
P189
183
185
184
171
'181
174
78
98
105
69
59
108
Silver
do
90
106
98
94
90
102
87
93
87
90
84
124
93
Zinc
do
106
123
117
96
94
121
103
111
98
92
101
99
Combined index, adjusted
do
P109
121
128
124
92
119
104
111
97
91
100
v 108
97
Manufactures, adjusted
do
121
129
124
92
118
92
103
82
71
88
Durable goods*
.do
84
p 103
80
123
141
76
130
122
89
85
81
73
87
100
Automobiles
...do
91
P127
78
127
87
90
128
76
78
79
75
82
80
90
71
Cement
do
87
96
81
91
80
121
165
124
89
87
133
131
Glass, plate
do
165
222
232
83
191
200
105
121
89
73
100
83
111
88
Iron and steel
do
157
173
79
167
143
115
117
110
108
110
Nondurable goods*
_
do
v 111
109
110
119
120
'105
118
114
' 118
'105
'110
'115
'115
v 119
Leather and products
do
' 109
'121
' 125
' 123
'115
'120
' 116
218
221
215
211
212
Petroleum refiningf
do
232
221
228
214
201
202
209
122
123
112
102
111
Rubber tires and tubesf
do
126
118
110
118
115
109
114
104
92
100
87
94
89
Slaughtering and meat packing
do
100
99
99
100
100
83
89
90
120
121
111
104
111
Textiles
do
108
125
123
126
114
109
110
97
168
164
170
170
158
Tobacco manufactures
do
166
170
186
172
167
162
164
91
164
114
104
98
106
121
Minerals, adjusted
_..do
v 121
120
124
'125
110
110
53
71
95
59
73
53
Anthracite
do
P51
58
59
60
75
61
61
77
84
71
80
46
75
Bituminous coal
do
?87
94
83
91
' 91
79
77
78
97
67
31
55
74
Iron-ore shipments
do
0
128
0
155
0
0
0
71
71
70
82
0
68
Lead
do
78
70
78
83
87
73
69
127
174
170
175
71
174
Petroleum, crude
do
p 193
181
189
187
'189
169
79
173
104
107
71
174
70
Silver
do
91
105
91
89
93
100
86
90
101
91
Zinc
do
110
116
121
117
114
87
90
91
* Revised.
p Preliminary.
*New series. For indexes of durable and nondurable goods production beginning 1919, see table 8, p. 14, of the March 1939 Survey.
fRevised series. Petroleum refining, revised beginning 1934, and rubber tires and tubes, beginning 1936; see table 36, p. 17, of the August 1939 Survey. For revised
Income payments beginning 1929, see table 41; pp. 15 and 16 of the October 1939 issue.
20
SUEVEY OF CUREENT BUSINESS
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey
ary
April 1940
1939
February
March
April
May
June
July
1940
August
September
DecemOctober November
ber
January
BUSINESS INDEXES—Continued
AGRICULTURAL MARKETINGS
Quantities marketed:
Combined index
1923-25=100.
Animal products.
do...
Dairy products
do...
Livestock...
do._.
Poultry and eggs
__do_._
Wool
do___
Crops
do...
Cotton
do...
Fruits
._
...do...
Grains
do...
Vegetables..
_..do.__
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...
*60.0
*83.0
81.0
*85.0
»92.0
*80.0
80.0
78
104
65
104
45
57
35
93
50
107
65
81
103
62
123
77
50
22
95
50
89
81
99
135
72
145
193
63
23
92
80
109
82
93
145
62
114
387
71
26
81
101
112
133
66
91
386
101
46
78
184
49
85
84
122
70
79
266
87
75
80
116
41
120
82
100
78
75
144
159
251
79
120
72
125
87
90
90
75
90
163
278
95
94
82
104
90
80
81
126
42
119
200
75
52.5
73.0
64.0
81.0
83.5
81.0
75.0
57.5
72.5
63.0
81.0
78.0
83.5
73.0
53.5
68.0
59.0
76.0
76.5
78.0
69.0
59.0
70.5
59.5
80.5
75.0
89.5
66.0
59.5
63.5
50.5
75.5
75.5
78.5
65.0
67.5
63.0
51.5
74.0
77.0
75.0
66.5
75.5
66.5
58.5
74.0
82.0
71.0
64.5
93.0
73.5
64.5
82.0
84.0
84.5
67.0
107.0
76.5
68.5
83.5
89.0
87.0
66.5
90.0
76.5
66.0
' 86.5
91.0
87.0
73.5
183
204
258
120
187
126
126
151
181
201
248
111
191
118
12?
151
182
205
241
101
187
110
129
162
182
211
239
84
184
106
119
166
190
223
226
88
185
105
115
186
0)
0)
0)
0)
87
80
75
132
35
90
133
74
59
61
78
85
95
85
87
31
71
94
78
42
79
79.0
79.0
74.0
84.0
91.5
82.0
70.5
'69.0
'79.0
72.5
••85.0
'95.0
'84.5
65.5
0)
C1)
WORLD STOCKS
Combined index (quantity)f
Cotton, adjusted
Rubber, adjusted f
Silk, adjusted
Sugar, adjusted..
Tea, adjusted.._
Tin, unadjusted
Wheat, adjusted
-
1923-25=100.
do._.
..do..-.
• ..do...
...do...
do.__
do...
do...
0)
~"lO2
245
228
98
194
108
115
241
216
101
216
107
225
105
219
105
20.8
120
' 101
102
110
153
139
123
123
241
COMMODITY PRICES
COST OF LIVING
(National Industrial Conference Board)
Combined index
Clothing
Food
Fuel and light
Housing
- - -
-
1923=100..
-- do
a*0
- - - - - do
do
Sundries
do...
PRICES RECEIVED BY FARMERS§
85.8
73.2
79.8
86.0
86.6
96.9
85.1
72.4
78.4
85.9
86.1
96.7
84.9
72.3
78.0
85.8
86.1
96.7
85.0
72.2
78.2
85.2
86.2
96.7
84.8
72.1
78.1
84.0
86.2
96.6
84.7
72.0
77.9
83.4
86.0
96.6
84.9
71.9
78.1
83.8
86.3
96.9
84.5
71.9
76.7
84.0
86.3
96.9
85.9
72.2
80.7
84.4
86.5
97.0
85.8
72.6
80.1
85.2
86.6
96.8
85.7
72.9
79.6
85.6
86.7
96.8
85.3
72.9
78.5
85.6
86.6
96.8
85.4
73.0
78.8
85.8
86.6
96.9
101
98
85
118
76
91
101
168
107
92
91
70
107
78
66
116
105
92
91
88
71
100
81
66
116
110
83
89
87
70
95
82
67
114
95
86
90
85
72
92
85
72
112
88
83
89
83
73
94
93
73
107
105
81
89
89
73
96
80
66
107
99
89
88
90
71
100
70
64
101
99
100
98
102
76
107
73
83
117
117
98
97
108
74
112
73
77
112
128
94
97
117
75
117
66
79
107
123
98
96
97
82
118
65
87
101
96
104
99
91
85
119
66
90
103
117
113
78.1
76.8
80.8
89.4
76.4
76.6
76.5
75.1
85.2
76.3
76.5
75.1
75.7
86.9
79.0
78.4
77.9
77.1
89 2
76.9
77.1
92.6
89.1
89.1
89.1
89.1
89.1
89.3
89.5
90.2
91.2
91.9
92.0
92.3
96.6
88.8
91.8
94.1
85.9
96.2
88.5
88.9
90.5
84.3
96.2
88.4
88.8
90.5
84.3
96.0
88.4
88.8
90.5
84.1
95.9
88.4
88.8
90.5
84.1
95.9
88.4
88.9
90.6
84.0
95.9
88.4
88.9
90.6
84.1
96.0
88.4
89.0
90.7
84.1
96.1
88.6
89.5
91.7
84.3
96.3
88.7
90.4
92.7
84.7
96.4
88.7
90.9
93.5
85.0
96.4
88.7
91.0
93.5
85.3
96.6
88.8
91.4
93.7
85.5
(17. S. Department of Agriculture)
Combined index
Chickens and eggs
Cotton and cottonseed
Dairy products
Fruits
Grains
Meat animals .
Truck crops
Miscellaneous
.
-
1909-14= 100
do
do _
-do
-do
- - - - do
do
- -do
do
RETAIL PRICES
U. S. Department of Labor indexes:
Coal:
A n thracite
1923-25 —100
"RitnTniTioiis
do
Food
do
Fairchild's index:
Combined index
...Dec. 31,1930= 100._
Apparel:
Infants'
do
Men's
do
Women's
do
Home furnishings
do
Piece goods
do
WHOLESALE PRICES
U. 8. Department of Labor indexes:
Combined index (813 quotations). .1926= 100.
Economic classes:
Finished products
.
do
Raw materials
.do__
Semimanufactures
do __
Farm products
- do
Grains
do
Livestock and poultry
do__
Foods
..
do
T)airv Dro ducts
do
Fruits and vegetables
do__
Meats
.
do
Commodities other than farm products and
78.7
76.9
76.7
76.2
76.2
75.6
75.4
75.0
79.1
79.4
79.2
79.2
79.4
81.4
72.7
79.9
68.7
72.8
65.6
71.1
80.0
58.7
68.4
80.2
70.9
74.4
67.2
54.7
79.2
71.5
71.6
62.1
83.2
80.2
70.1
74.6
65.8
54.5
78.2
70.2
64.8
63.2
82.5
80.1
68.5
74.4
63.7
55.2
75.5
68.6
58.1
64.3
81.0
79.9
68.9
74.3
63.7
59.6
73.2
68.2
58.6
63.8
78.6
79.6
67.7
74.1
62.4
58.2
69.4
67.6
60.0
62.5
75.7
79.2
67.8
74.4
62.6
52.3
69.7
67.5
64.6
62.0
75.3
79.1
66.5
74.5
61.0
51.5
66.0
67.2
67.9
58.5
73.7
81.9
'72.6
81.8
68.7
65.1
76.3
75.1
74.5
62.8
81.0
82.3
72.3
83.1
67.1
61.6
70.5
73.3
78.9
60.2
74.9
82.0
72.4
82.1
67.3
64.1
66.1
72.3
80.1
61.2
71.2
81.7
73.3
82.0
67.6
71.6
63.8
71.9
81.3
63.0
69.1
81.7
73.8
81.7
69.1
73.5
67.2
71.7
81.9
60.3
69.9
80.5
80.6
80.2
80.4
80.2
80.2
80.1
82.1
84.0
83.2
83.8
83.9
83.9
93.2
89.6
89.8
89.6
89.5
89.5
89.7
89.6
90.9
92.8
93.0
93.0
93.4
91.7
91.2
92.4
92.5
93.0
91.1
90.6
90.5
91.0
91.5
91.6
91.6
91.6
_ .
91.5
91.4
91.2
91.5
91.5
91.5
91.5
91.3
91.3
91.3
91.3
91.3
91.4
91.2
98.0
97.6
92.6
92.1
91.5
90.7
91.8
91.8
93.7
98.3
97.8
97.6
' Revised.
Preliminary.
i Temporarily discontinued; for several of the series, European stocks have not been available since the outbreak of war.
t Revised series. Cash income from farm marketings revised; data not shown above will appear in a subsequent issue. Combined index of world stocks revised beginning
January 1920; see table 5, p. 17, of the January 1939 Survey. For subsequent 1938 revisions in the combined world stocks index and in the rubber component, see p . 20 of the
June 1939 Issue. Cement price index revised beginning 1926, see table 23 p. 18, of this issue; the building-materials group and the combined index of all commodities have
not been revised, as the effect of the change in cement prices on these indexes is small.
§Datafor Mar. 15, 1940: Total 97, chickens and eggs 83, cotton and cottonseed 83, dairy products 114, fruits 73, grains 92, meat animals 102, truck crops 128, miscelhttp://fraser.stlouisfed.org/
laneous 101.
foods
Building materials
Brick and tile
.
Cementf
Lumber
Federal Reserve Bank of St. Louis
1926= 100
do
do._
-do
do
p
21
SUEVEY OF CUEEENT BUSINESS
April 1940
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data, maybe found in the Febru1938 Supplement to the Survey
ary
1940
1939
February
March
April
May
June
July
August
September
DecemOctober November
ber
January
COMMODITY PRICES—Continued
WHOLESALE PRICES—Continued
U. S. Department of Labor indexes—Contd.
Commodities other than farm products and
foods—Continued.
Chemicals and drugs.
1926=100..
Chemicals
do
Drugs and Pharmaceuticals
do
Fertilizer materials
do
Fuel and lighting materials
do____
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
Automob ile tires an d tubes
do
Paper and pulp
do
World prices, foodstuffs and raw materials:
Combined indexf
1923-25=100..
Cotton
do....
Rubber
do....
Silk
.do....
Sugart..
do.__.
Tea
do....
Tin
.do
Wheat
do....
Wholesale prices, actual. (See under respective
commodities.)
78.1
81.0
76.8
72.9
72.4
50.9
102.4
108.2
97.0
94.2
88.2
81.9
94.2
95.3
96.3
79.2
79.1
75.4
84.9
73.6
64.5'
(2) V
87.2
77.3
55.6
89.5
(0
40.8
44.1
42.8
43.6
91.4
76.3
79.4
72.7
69.3
73.0
82.8
81.8
50.7
91.9'
101.1
72.8
84.2
85.2
80.5
89.8
94.3
96.1
76.5
76.5
79.9
72.2
69.7
73.1
80.3
82.2
50.9
91.8
101.2
73.8
82.7
85.2
80.5
89.7
94.3
96.1
76.6
76.0
79.3
71.9
69.6
73.4
81.4
84.1
51.9
90.9
101.2
68.3
82.8
85.4
81.0
89.6
94.0
96.1
74.7
75.9
79.4
71.9
69.7
73.9
79.3
86.0
52.5
91.6
101.3
72.1
83.1
85.5
81.0
89.8
93.5
95.7
73.1
75.7
79.2
71.9
69.5
73.0
77.8
88.9
52.5
92.3
101.3
75.3
83.8
85.6
81.0
90.0
93.2
95.2
72,9
75.0
78.2
7L8
67.5
72.8
78.1
89.0
52.2
92,5
100.8
76.9
84.1
85.6
81.0
90.0
93.2
95.1
73.3
74.6
77.5
71.7
67.2
72.6
75.8
86.7
51.7
92.7
100.8
77.2
84.0
85.6
81.1
90.0
93.2
95.1
74.6
77.3
81.2
72.8
69.2
72.8
77.5
87.2
53.3
98.5
101.8
97.4
92.0
86.6
81.3
91.7
94.8
95.5
84.7
78.1
82.1
74.4
70.6
73.9
75.4
84.4
54.0
104.6
105.7
112.4
97.8
87.8
81.7
93.7
95.8
96.0
85.3
78.0
81.4
75.0
73.0
74.1
76.5
82.2
53.9
104.0
107.2
104.3
97.8
88.4
82.3
94.2
96.0
96.0
85.1
78.1
81.1
75.6
74.5
72.8
77.7
80.4
52.5
103.7
107.5
105.2
95.2
88.5
82.4
94.4
96.0
96.1
84.6
79.2
66.1
81.5
63.7
58.8
34.7
74.7
73.5
59.7
81.1
79.3
66.6
81.5
63.7
59.9
36.1
75.1
74.1
60.5
81.3
79.3
66.9
81.6
63.4
60.2
37.8
75.2
74.4
60.5
81.1
79.3
67.5
81.7
63.3
60.2
40.7
75.4
74.2
60.5
80.4
79.3
67.3
81.7
64.1
60.1
39.1
75.6
73.8
60.5
79.9
79.3
67.6
81.2
65.1
60.2
40.2
75.4
73.4
60.5
79.9
79.3
67.8
81.5
65.5
61.5
39.5
75.5
73.3
60.5
80.0
79.3
71.7
81.7
70.4
62.8
43.4
84.0
76.6
60.5
81.8
79.3
75.5
83.2
74.3
63.5
46.2
91.3
77.6
60.5
86.3
79.3
76.4
83.8
74.8
64.8
47.7
90.5
77.0
55.6
88.0
79.3
78.0
84.2
75.2
66.0
55.0
90.3
77.4
55.6
89.0
79.3
77.9
84.5
75.4
68.4
(a)
90.4
77.7
55.6
37.8
33.1
37.3
29.5
30.9
67.0
90.8
41.1
37.3
33.1
38.1
31.0
31.9
66.6
91.9
38.4
32.4
37.2
33.4
35.2
69.6
93.9
38.5
41.3
35.3
37.6
37.6
40.5
68.9
97.5
40.4
41.0
36.4
38.3
35.4
37.4
68.8
97.2
40.8
35.7
38.7
37.0
37.7
67.5
96.5
34.3
38.0
34.6
39.0
36.9
32.7
74.3
97.0
32.4
0)
34.2
49.7
41.8
59.7
0)
34.2
46.6
45.7
49.4
0)
36.0
47.3
47.4
40.8
40.4
46.9
54.8
43.4
0)
40.8
44.6
51.5
42.4
126.3
109.9
103.9
100.7
92.9
130.9
130.2
159.7
119.5
131.3
130.9
161.6
119.8
132.1
130.5
165.3
119.6
132.1
130.7
163.4
119.9
133.2
131.1
165.3
120.0
133.5
130.7
165.3
119.8
134.2
133.2
166.9
120.3
127.3
126.6
149.9
118.3
126.8
127.6
151.5
118.5
127.2
128.4
151.5
118.6
127.2
130.0
153.1
119.2
126.8
129.7
148.6
119.0
r44
78.1
80.9
76.5
74.0
72.7
51.7
103.6
107.8
102.6
96.0
87.9
81.4
94.0
95.8
96.3
82.6
PUHCHASING POWER OF THE
DOLLAR
Wholesale prices.
._
Retail food prices
Prices received by farmers
Cost of living
.1923-25=100..
do....
do
do
128.0
128.0
145.6
118.5
CONSTRUCTION AND REAL. ESTATE
CONTRACT AWARDS, PERMITS, AND
DWELLING UNITS PROVIDED
Value of contracts awarded (F. R. indexes):
Total, unadjusted
1923-25=100-.
Residential, unadjusted
do
Total, adjusted
do
Residential, adjusted
do
F. W. Dodge Corporation (37 States) :f
Total projects
number..
Total valuation
thous. of dol._
Public ownership
do
Private ownership
do
Nonresidential buildings '
Projects
number...
Floor area
thous. of sq. ft._
Valuation
thous. of dol._
Residential buildings, all types:
Projects
number..
Floor area...
tbous. of sq. ft..
Valuation
thous. of doL.
Public utilities:
Projects
„
number..
Valuation--.
thous. of doL.
Public works:
Projects
number..
Valuationthous. of dol__
Building permits issued in 1,790 cities:f
Total buildings
number..
Total estimated cost
thous. of dol..
New residential:
Buildings
number..
Estimated cost
thous. of dol..
New nonresidential:
Buildings
'..
number.Estimated cost.thous. of doL.
Additions, alterations, and repairs:
Buildings
number..
Estimated cost.
thous. of dol._
P62
P 55
63
51
73
58
69
58
69
55
76
68
67
58
75
65
63
55
73
64
63
58
73
63
67
62
76
66
73
67
73
68
73
68
72
66
76
68
74
59
83
61
69
51
86
60
75
'53
15, 595
200, 574
81, 666
118, 908
13,015
220,197
110, 975
109, 220
20, 233
300,661
127, 776
172,885
22, 282
330,030
159, 656
170, 374
23, 244
308,487
134, 757
173,730
21, 701
288, 316
127, 595
160, 721
21, 806
299, 883
136, 543
163,340
23, 270
312, 328
158,459
153,869
22,984
323, 227
144, 216
179,011
22,402
261,796
91,604
170,192
22,323
299,847
143. 647
156, 200
18, 831
354,098
225, 095
129,003
13,517
196,191
92, 532
103, 659
2,852
12, 356
70, 565
2,348
12,783
69, 544
3,592
17,944
97,786
3,400
16, 563
94, 656
3,457
12, 700
76, 749
4,052
15, 418
92,845
3,823
17, 691
88, 501
3,453
12, 268
69,882
3,650
16, 490
82,466
3,749
15, 494
72,684
3,242
15, 418
77, 769
2,711
11,675
57, 757
2,453
9,109
52, 532
11, 807
19,107
74, 858
9,669
19,176
79,020
15,438
30, 725
125, 225
17,387
28,382
114, 405
18, 262
32, 602
133, 818
15,942
27,502
111,896
16, 287
27,181
109, 330
18,003
31,165
127,163
17, 589
32,977
129, 680
17,136
29,371
118,303
17, 756
31,009
116, 588
14, 899
22, 584
88, 681
10,132
19, 082
77, 400
174
12, 222
273
18, 518
259
19, 640
323
35, 336
251
21,779
234
9,968
254
23, 092
328
20,113
356
39,663
294
20,450
350
23,906
330
26, 977
202
18, 398
762
42, 929
725
53,115
944
58,010
1,172
85, 633
1,274
76,141
1,473
73,607
1,442
78,960
1,486
95,170
1, 389
71, 418
1, 223
50, 359
975
81, 584
891
180, 683
730
47, 861
42,624
137, 798
37, 721
149, 572
62, 303
177f903
65, 775
165,978
77,913
204, 437
71,040
202,429
64.537
73,318
185,019 •197,937
67,618
179, 605
73,921
173, 649
60, 373
174, 501
44, 016
152, 727
35, 538
114, 211
14, 202
76,195
11, 476
85, 719
18,635
94,374
17, 697
87,441
20,961
119, 600
19, 224
99, 775
17,884
96,114
19,697
116, 260
16,818
87,308
19, 571
91,921
17,559
105, 400
15, 083
95,677
10,850
GO, 515
6,420
38.519
5,690
37, 730
10, 496
52,886
11, 520
44,830
13, 711
51,162
12, 085
70,974
11,214
59,794
13,037
49,096
13,053
63,702
14, 521
52, 745
11,915
46,123
7,960
38,004
5,267
33, 925
22,002
23,084
20,555
26.123
33,172
30, 643
36, 558
33, 706
43,241
33, 674
39, 731
31,680
35, 439
29, 111
40, 584
32. 580
37, 747
28, 595
39, 829
28,983
30,899
22,978
20,973
19,045
19, 421
19, 771
v 54
»49
61
* Revised
v Preliminary.
1 Temporarily discontinued; for several of the series, data have not been available since the outbreak of war.
fRevised series. Data on world prices revised beginning 1920; see table 4, p. 17, of the January 1939 issue. For construction contract awards, see note marked with a
" t " on p. 21 of the July 1939 issue. The data on building permits are based on reports from 1,790 identical cities having populations of 2,500 or more, and supersede those shown
in the Survey through the issue of May 1939 which were for 1,728 cities in the same size group. The present series include data for 62 additional cities, but tho total estimated
cost 2of permits issued was increased by only 0.2 percent in 1937. Data beginning January 1936 will appear in a subsequent issue of the Survey.
Temporarily discontinued; separate data for "silk" and for "rayon" will be substituted in a near future issue of the Survey.
22
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937. to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey
ary
April 1940
1939
February
March
April
May
June
1940
July
DecemAugust SeptemOctober November
ber
ber
January
CONSTRUCTION AND REAL ESTATE—Continued
j
CONTRACT AWARDS, PERMITS, AND
DWELLING UNITS PROVIDED—Con.
Estimated number of new dwelling units provided in all urban areasrf
Total
number..
1-family dwellings
do
2-family dwellings
do
Multifamily dwellings
do
Engineering construction:
Contract awards (E. N. R.)1___thous. of dol.. 270,928
20, 505 <- 28, 527 ' 27,067
12, 324 r 19.654 r 19, 452
r
1,383
*• 1, 222
1,432
* 7, 490 r 6,183
' 6,959
r
36,583
r 25, 960
r
1,931
r 8. 692
' 30, 278 r 28,495
'21,878 r 21, 804
r
1,472
r 1, 248
' 6, 928 r 5, 443
r 34,198
' 23, 543
r 1,472
r 9, 183
r
26, 852
* 18. 808
'1.616
T
6, 428
285, 566 240, 735
252,992
268, 395
181, 469
311,222
203, 843
27, 159
21, 362
1, 591
4, 206
30,890
21, 623
1,247
8,020
209,337
245, 062
302, 215
696
052
111
533
190,327 ! 191,977
HIGHWAY CONSTRUCTION
Concrete pavement contract awards:
3,122
Total
thous. sq. y d . .
2,297
Roads
do
825
Streets and alleys c?
dp
Status of highway and grade crossing projects
administered by the U. S. Bureau of Public
Roads:
Highways:
Approved for construction:
4, 264
Mileage
no. of miles..
Federal funds
thous. of dol._ 46, 677
Under construction:
5.966
Mileage
no. of miles..
Federal funds
thous. of dol.. 96,864
185, 954
Estimated cost
do
Grade crossings:
Approved for construction:
12, 617
Federal funds
do
13,193
Estimated cost
do
Under construction:
31,167
Federal funds
do
32, 775
Estimated cost
do
1,245
686
560
2,143
860
1,283
3,385
2,081
1,304
4,458
2,179
2,280
6,855
4,232
2,623
5,713
3,820
1,893
6,161
3,907
2,254
4,465
3,058
1,407
2,655
1,067
1,588
3,718
2,491
1,228
4,951
3, 260
1,691
2,597
1,730
3,177
35,968
3,081
34,969
3,081
35, 600
3,615
40, 769
3,867
41, 024
3,701
37,802
3,130
34, 254
2,723
30, 821
2,824
30, 750
3,100
35, 315
3,528
40,132
3,880
45,616
7, 855
8,301
115,212 120, 505
222, 630 232, 772
8,463
122, 758
238,636
8,570
123, 554
240, 218
8.522
124,975
244,860
8,554
123, 044
242,924
8,386
119,472
237, 214
7,473
110, 543
222,062
6,746
101, 855
205,183
7,721
114,185
221,046
5, 984
5, 837
91, 429 ! r 90, 220
184,441 i 180,686
13, 613
14, 285
12,906
13, 374
12,107
12, 529
10, 224
10, 583
11,312
12,191
11, 504
12,414
10, 654
11,437
9,888
10, 581
10, 283
10,909
10,180
11,060
37,930
39, 777
38,817
40, 747
40, 654
42, 654
43, 771
45, 723
42, 299
44, 094
40, 336
42, 052
38,579
40, 505
37,919
39,756
35, 435
37,190
35,112
36, 577
183
169
192
167
185
182
168
193
169
185
182
168
193
169
185
182
168
193
169
185
182
168
193
169
185
183
168
195
169
184
184
171
195
171
185
185
173
196
173
188
185
173
196
173
188
185
174
196
188
188
188
187
187
187
188
188
188
188
11.428
11,986
30,528
32, 258
12, 447
13,075
30,410
32, 077
CONSTRUCTION COST INDEXES
Aberthaw (industrial building)
1914=100.
American Appraisal Co.:J
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. S. 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
do...
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.
Federal Home Loan Bank Board:*
Standard 6-room frame house:
Combined index
1936=100.
Materials
do...
Labor
do....
188
183
169
192
167
185
187
191
187
185
JUZ
188
188
96.0
131.1
118.0
118.9
95.2
130.1
117.6
119.1
95.3
130.0
117.6
119.1
95.3
130.0
117.6
119.1
95.3
130.6
117.0
118.6
95.4
130.6
116.9
118.5
94.8
130.9
116.8
118.3
94.8
130.8
116.8
118.4
94.6
130.8
116.8
118.4
94.8
130.8
117.8
118.6
94.9
130.9
117.9
118.7
95.3
131.4
118.2
119.0
96.0
131.1
118.0
118.9
133.7
122.7
119.9
97.5
132.7
122.3
120.1
97.4
132.7
122.3
120.1
97.4
132.7
122.3
120.1
97.6
133.4
121.4
119.7
97.6
133.4
121.3
119.7
97.2
133.8
121.2
119.6
97.2
133.7
121.2
119.6
97.0
133.7
121.2
119.6
97.2
133.7
122.0
119.7
97.2
133.7
122.5
119.8
97.5
134.0
122.6
120.0
98.2
133.7
122.7
119.9
96.9
130.4
118.1
118.7
96.2
129.2
117. 7
120.4
96.0
129.4
117.7
120.6
96.0
129.5
117.7
120.6
95.6
129.8
115.3
118.5
95.7
129.9
114.7
118.5
93.3
130.2
114. 4
118.2
93.2
130.2
114.4
118.3
93.0
130.2
114.4
118.3
93.2
130.5
117.5
118.5
93.3
130.6
118.0
118.7
93.8
131.0
118.2
118.9
96.8
130.4
118.1
118.7
88.4
125.1
105.8
110.5
85.7
122.2
106.6
110.7
85.0
122.2
106.6
110.3
85.0
122.5
106.6
110.3
86.1
123.1
104.7
110.3
86.8
123.1
104.7
110.0
86.5
123. 6
104. 7
108.9
86.1
123.5
104.7
109.3
85.4
123.5
104.7
109.3
86.0
123.9
105.4
110.3
86.8
124.3
106.1
110.9
88.1
125.5
107.0
111.1
88.3
125.1
105.8
110.4
85.7
124.5
100.2
107.4
82.5
121.1
98.7
107.7
81.6
121.0
98.7
107.2
81.6
121.4
98.7
107.2
82.8
121.9
98.7
107.2
83.7
121.9
98.7
106.8
83.3
122.1
98.7
105.4
82.8
122.0
98.7
105.9
81.9
122.0
98.7
105.9
82.8
122.8
99.8
107.2
83.7
123.3
100. 5
107.9
85.3
124.8
101.6
108.1
85.5
124.5
100.2
107.2
238.3
234.3
234.4
234.9
234.7
235.0
234.9
234.9
235.0
236.9
238.2
238.2
238.3
106.5
104.5
110. 5
106.0
103.0
112.2
106.1
103.0
112.4
105.9
102.9
111.9
105.6
102.7
111.5
105.4
102.5
111.3
105. 3
102.4
111.3
105.2
102.3
111.2
105.7
102.9
111.2
106.1
103.6
111.1
106.5
104.4
110.8
106.6
104.5
110. 6
106.4
104.4
110.2
REAL ESTATE
Federal Housing Administration, home mort
gage insurance:
Gross mortgages accepted for insurance
82, 322
62, 269
62,008
thous. of doL. 44, 980
52,603
74, 216
65, 013
64,895
73, 701
41, 224
53, 200
48,831
Premium-paying mortgages (cumulative)
thous. of dol._ 2,086,518 1,400,212 1,450,575 1,496,794 1,546,237 1,607,147 1,658,306 1,723,357 1,776,784 1,837,923 1,905,071 1.969,862 2,034,920
'Revised.
§Index as of March 1, 1940, is 238.3.
*New series. For data beginning 1936, see table 30, p . 17 of the June 1939 Survey.
tRevised series. Data on number of dwelling units provided revised beginning January 1937; the more significant revisions, covering the period October 1937 to June
1939, were shown in the footnote on p. 22 of the September 1939 Survey; data are also revised for 1939; figures not shown above are as follows: January—Total, 22,082; 1-family,
13,231; 2-family,l,210; multi-family, 7,641.
cf Data for streets and alleys, formerly shown separately, are available in total only subsequent to December 1938.
^[Data for March, June, August, and November, 1939, and February 1940, are for 5 weeks; other months, 4 weeks.
{Beginning January 1940 the American Appraisal Co. has revised the basis on which the indexes are prepared to include in addition to material and labor prices formerly
used, provisions for overhead and profit allowances. The composite 30-city index on the new basis for January is 203 as compared with 185 on the old basis (1913=100). Indexes
for individual cities beginning January 1940, and annual indexes for the composite beginning 1913, on the new basis, will be shown in a subsequent issue.
23
SURVEY OF CURRENT BUSINESS
April 1940
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey
ary
1940
1939
February-
March
April
May
June
July
August
September
DecemOctober November
ber
January
CONSTRUCTION AND REAL ESTATE—Continued
REAL E S T A T E - C o n t i n u e d
Estimated new mortgage loans by all savings
and loan associations:f
66, 944
94,154
Total loans_ _ .
thous. of doL. 71,522
85,172
16, 076 83,112
95, 038 89, 732 93,297
58,309
83,425
73, 378
•9,123
Loans classified according to purpose:
Mortgage loans on homes:
19, 488
27,854
29, 255
26,923
21,254
26,607
Construction
thous. of doL- 20,152
16,027
26, 646
29, 919
29, 863
23, 727
22, 039
33,383
27, 779
25,389
31,367
30,434
Home purchase
do
19,118
24, 705
31,289
32, 228
32, 282
29, 903
29,638
13,999
15, 835
15, 001
15,445
Refinancing
do
14, 590
12, 551
15,687
17,123
16,021
14, 871
15,384
15, 353
17,005
3,435
5,784
4,335
4,720
3,593
6,069
5,802
Reconditionin g
do
3,437
4,974
5,133
5,909
5,544
4,211
7,963
9,040
9,074
8,870
7,020
9,432
9,082
9,437
Loans for all other purposes
do
7,954
8,946
8,337
8,183
9,979
Loans classified according to type of association28, 008
34, 785
37,854
34,053
37, 090
Federal
thous. of dol — 29, 786
36, 358
39,094
34, 055
40, 645
22, 298
33,400
29,811
25, 737
37, 847
34,671
33, 209
36, 465
36, 989
State members
do
35, 426
34,146
37, 340
28,941
24,191
32, 562
30,124
13,199
18, 595
17, 596
15, 850
15, 653
16, 620
Nonmembers.
do. - . _ 12, 795
17, 339
16, 971
17, 053
11,820
17, 463
13, 443
Loans outstanding of agencies under the Federal
Home Loan Bank Board:
Federal Savings and Loan Associations, estimated total mortgages outstanding
thous. of doL. 1,296,464 1,051,109 1,067,887 1,089,879 1,117,228 1,136,289 1,157,536 1,186,784 1,206,887 1,231,685 1,252,559 1,271,161 1,280,200
Federal Home Loan Banks, outstanding advances to member institutions
thous. of dol . 144,515 170, 614 161,614 157,176 157,911 168, 962 161, 537 159,470 163, 687 168, 654 168,822 181, 313 156, 788
Home Owners' Loan Corporation, balance of
loans outstanding
thous. of doL. 2,026,614 2,134,261 2,117,598 2,105,824 2,091,324 2,080,512 2,067,844 2,059,792 2,054,865 2,049,421 2,043,288 2,038,186 2,031,341
Foreclosures:
114
126
185
131
136
164
167
147
156
157
150
103
171
Nonfarm real estate
1926=100..
108
Metropolitan communities
do
121
165
120
129
141
161
136
138
152
146
99
157
Fire losses
thous. of dol _. 34, 410
36, 261
27, 959
27,032
24, 301
27, 248
27, 062
24,191
22, 837
29,304
22, 468
22, 792
30,082
DOMESTIC TRADE
ADVERTISING
Printers' Ink indexes (with adjustment for seasonal variations):
Combined index
1928-32=100...
Farmpapers
...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 e q u i p m e n t
do
Financial...
do —
Foods, food beverages, c o n f e c t i o n s — . d o . . . .
House furnishings, etc
do —
Soap, cleansers, etc
do
Office furnishings, supplies
do....
S m o k i n g materials
do ..
Toilet goods, medical supplies
do . .
Allother
do . .
Magazine advertising:
Cost, total
.do...
Automobiles and accessories
do
Clothing
do...
Electric household equipment
do
Financial
do _
Foods, food beverages, c o n f e c t i o n s — d o . . . _
House furnishings, etc
do....
Soap, cleansers, etc
do _.
Office furnishings, supplies
do....
Smoking materials
do . . .
Toilet goods, medical supplies _ .
do
Allother
do^___
Linage, total
thous. of lines.Newspaper advertising:
Linage, total (52 cities)
do..—
Classified
do .
Display, t o t a l . . . .
.....
do....
Automotive
do
Financial
do
General
.
do.—
Retail
do
82.7
60.7
80.0
77.1
77.2
306.2
79.5
59.9
78.4
74.2
73.8
265.6
84.4
56.4
80.4
79.8
82.0
262.7
82.2
66.2
80.6
76.0
89.0
253.3
84.4
69.0
80.3
78.0
90.5
290.8
85.5
65.0
82.0
79.8
76.6
329.7
81.7
61.8
80.0
74.0
89.8
337.7
84.8
70.1
78.5
79.1
76.6
355.6
82.6
66.1
72.8
77.4
83.5
333.7
82.8
65.8
78.1
77.7
75.8
298.4
84.0
69.3
82.0
79.9
60.6
312.6
89.4
70.9
80.4
84.3
88.3
318.5
79.4
57.8
74.8
73.4
78.9
'325.6
7,800
634
32
7,404
747
50
0
64
2,501
38
818
0
885
2,020
281
6,678
657
25
0
54
2,241
39
746
0
870
1,781
264
7,034
745
66
0
74
2,277
65
857
0
921
1,844
186
6,471
640
37
0
129
2,101
18
792
0
887
1,718
148
5,813
496
32
0
97
1,669
23
771
0
1,000
1,583
141
5,859
520
58
6,089
558
75
8,014
648
72
1,119
2,084
220
6,567
617
33
0
53
2,194
39
691
0
796
1,859
285
8,036
641
34
0
98
2,729
45
925
0
1,153
2,163
247
8,127
636
41
0
92
2,769
49
915
0
1,134
2,225
265
'8,299
683
30
0
85
-2,740
50
942
0
1,219
2.328
221
12,318
1,616
595
239
364
2,130
480
478
166
598
2,396
3,256
2,343
11,562
1,475
495
195
376
2,124
377
500
148
592
2,183
3,096
2,294
14,277
2,153
829
395
431
2,285
637
423
220
744
2,537
3,622
2,591
16,818
2,997
1,020
808
508
2,180
1,026
468
202
684
2,508
4,419
2,715
15,717
2,854
921
757
435
2,015
1,036
471
233
692
2,249
4,054
2,356
13,279
2,216
710
603
486
1,893
760
454
100
636
2,187
3,235
1,796
10,131
1,635
246
170
337
2,072
266
311
64
622
1,902
2,507
1,625
13,821
2,159
755
337
400
2,103
874
382
203
704
2,474
3,429
2,255
12,262
1,300
555
406
318
1,771
681
209
303
647
2,219
3,794
1,711
'8,274
1,318
'271
88
376
1,271
255
217
119
620
1,422
'2,317
1,973
93,240
19,295
73,945
4,224
1,494
15,740
52,487
86,651
18,318
68,333
3,458
1,403
14,024
49,448
111,815
22,147
89,669
4,768
1,695
17,414
65,792
70.4
70.4
70.2
1,821
2,226
1,221
4,140
36,900
59
2,663
87
902
111,160 112,377
22,824
22,692
88,335
89,685
6,055
6,075
2,105
1,615
17,655
18,538
62,520
63,456
0
0
109
1,657
23
818
0
0
102
1,860
48
812
0
0
1,048
1,498
128
969
1,538
126
8,387
1,033
405
58
245
1,695
215
370
123
431
1,558
2,253
1,784
11,814
1,322
989
213
352
1,744
628
411
327
593
2,029
3,207
2,182
105,086
21,785
83,301
5,345
1,663
17,408
58,886
85,407
20,570
64,838
3,496
2,120
13,999
45,222
90,526 101,937
21,115
20,884
69,410
81,053
3,512
3,067
1,349
1,278
12,527
15,045
52,022
61,663
70.4
70.7
70.2
69.9
1,874
2,190
1,712
1,724
1,447
1,356
1,435
1,427
4,662
41,891
4,171
38,119
4,248
39,229
4,170
38,165
0
107
2,608
62
923
0
1,170
2,150
273
14,925
2,312
1,136
392
414
2,206
1,086
403
204
665
2,422
3,685
2,378
119,612
22,393
97,220
6,436
1,767
19,824
69,192
113,457
20,194
93,264
4,537
1,376
18,470
68,880
118,103
20,246
97,857
3,482
1,637
14,183
78,555
88.033
19,075
68,958
3,854
2,278
12,433
50,393
69.4
70.4
72.3
73.9
72.8
1,718
1,471
1,787
1,850
1,901
2,361
1,386
1,486
1,421
1,509
1,473
3,907
36,858
3,906
37,098
3,907
37,262
4,288
39,723
4,150
38,553
4,554
41,190
4,702
41,876
GOODS I N WAREHOUSES
Space occupied, merchandise in public warehouses
percent of total..
NEW I N C O R P O R A T I O N S
Business incorporations (4 States)
number...
1,966
POSTAL BUSINESS
* Pound'milesperformed
Money orders:
Domestic, issued (59 cities):
Number
Value
.* Revised.
fRevised series.
millions..
thousands..
4,246
thous. of dol..1 39,065
For revised data on estimated new mortgage loans b y all savings and loan assocations, 1936-37, see table 12, p . If, of the March 1939 Survey.
24
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the February
1938 Supplement to the Survey
April 1940
1939
February
March
April
May
June
July
1940
August
September
October November
December
January
DOMESTIC TRADE—Continued
POSTAL BUSINESS—Continued
Money orders—Continued.
Domestic, paid (50 cities):
Number
Value
Foreign, issued—value
Receipts, postal:
50 selected cities
50 industrial cities
thousands..
thous. of dol..
do
12,945
95,124
12,371
88,734
2,027
15, 307
109,980
3,170
13,164
95,899
2,079
13,724
99,757
2,066
13,918
101,345
2,210
12,142
91, 709
2,069
13,130
99,498
2,205
12, 624
97,376
1,895
14,152
109,016
1,833
14,385
108,449
1,773
15, 285
111,851
3,926
13,608
100,455
1,604
do .. .
do . . .
29,737
3,665
27,710
3,493
33,478
3,979
29, 830
3,618
30,922
3,687
29,791
3,687
25, 464
3,271
28,233
3,540
30,038
3,413
31,960
3,788
32,446
3,658
42,938
5,117
30,380
3,791
RETAIL TRADE*
Automobiles:
Value of new passenger automobile sales:
101.2
63.7
110.8
71.2
107.1
87.5
106.7
106.3
56.5
Unadjusted
1929-31=100-. v 100.4
96.5
'96.7
107.9
r
79.0
76.5
108.5
79.0
80.5
Adjusted
do _ v 135.6
96.0
88.0
83.5
122.6
79.5
93.7
102.8
Chain-store sales:
Chain-Store Age Index:
Combined index (20 chains)
114.0
113.0
110.0
111.0
113.0
120.0
av. same month. 1929-31=100..
108.8
114.5
113.5
109.8
110.0
113.3
117.0
119.0
118.0
Apparel chains
do
126.0
124.0
119.0
142.0
112.7
130.0
127.0
120.0
117.6
125.0
132.0
Grocery chain-store sales:
99.0
112.1
100.8
97.6
102.9
107.2
106.9
98.7
100.5
' 105.4
102.0
109.0
Unadjusted .
.
do
99.3
103.1
101.4
99.6
108.8
» 111. 7
109.4
106.4
' 108.7
98.2
99.5
Adjusted
_
do
99.0
109.0
Variety-store sales:
Combined sales of 7 chains:
*>83.0
206.6
95.8
91.3
89.5
r 75. 1
96.3
96.1
85.0
102.9
Unadjusted
do ..
79.7
97.6
108.4
112.0
100.8
102.6
96.3
101.1
100.6
101.4
' 100.7
95.5
98.8
97.1
Adjusted
do _._ *>99.4
106.8
H. L. Green Co., Inc.:
2,093
2,712
6,228
2,502
2,446
2,125
2,442
2,733
2,785
2,855
1,959
2,869
3,066
Sales
thous. of dol .
132
132
132
133
133
133
132
133
133
133
132
133
133
Stores operated
. number
S. S. Kresge Co.:
9,543
11, 293
24, 406
11,401
10, 369
10, 578
9,042
11,513
10, 606
11,938
9,058
11, 940
12, 356
Sales
thous. of dol 686
683
683
682
685
675
683
682
675
683
681
683
685
Stores operated
number..
S. H. Kress & Co.:
6,406
6,490
15, 232
6,225
5,300
5,969
6,818
6,596
7,286
5,603
5,163
6,315
7,295
Sales
thous. of dol .
239
240
240
240
239
240
240
240
239
238
239
240
238
Stores operated
number..
McCrory Stores Corp.:
3,420
3,136
3,354
7,655
2,767
3,300
3,158
' 3,431
3,196
2,998
2,738
3,622
3,648
Sales
. . thous. of dol .
201
202
202
201
200
200
200
202
201
202
200
202
201
Stores operated
number
G. C. Murphy Co.:
3,134
3,564
3,741
3,758
3,470
3,789
8,163
3,083
4,090
2,752
3,205
4,219
3,848
Sales
thous. of dol-_
202
201
202
202
201
202
201
201
201
201
202
201
201
Stores operated
-- number .
F. W. Woolworth Co.:
24,123
52,333
24, 662
24, 340
26, 530
20, 512
24, 725
25, 810
23,104
26,952
20, 686
25, 919
Sales
thous. of dol. - 22,117
2,013
2,015
2,014
2,020
2,017
2,005
2,015
2,018
2,011
2,012
2,019
2,008
Stores operated
number.
2,015
Restaurant chains (3 chains):
0)
Sales
thous. of dol..
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
Stores oDerated
number
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
Other chains:
W. T. Grant Co.:
6,109
18, 868
8,733
' 8, 385
7,298
7,210
r 8, 497
8,235
' 7,163
r 8, 377
5,931
5,748
Sales
thous. of dol._
9,316
492
491
492
494
493
493
495
495
494
491
489
489
489
Stores operated
.
-. .number
J. C. Penney Co.:
43,216
19, 504
18,292
28, 722
22, 237
20, 679
26,143
22, 232
28, 215
18, 733
21,314
14, 614
Sales
thous. of dol. _ 16,032
1,554
1,553
1,554
1,544
1,552
1,557
1,554
1,543
1,542
1, 544
1,540
1,548
Stores operated
number._
1,545
Department stores:
Collections:
Installment accounts
18.0
16.0
17.2
17.7
17.0
16.7
16.8
17.7
17.3
18.6
17.2
16.2
percent of accounts receivable
44.5
48.2
45.3
43.6
47.0
46.8
44.0
46.9
46.6
48.7
45.3
43.9
Open accounts
do
72
99
168
83
60
69
72
97
106
82
87
69
88
Sales, total U.S., unadjusted... -19~23-25 = 100_.
230
138
93
133
142
108
114
111
116
119
118
101
88
Atlanta
- do
54
76
49
55
83
85
140
69
75
88
54
68
75
Boston
- do
61
102
98
164
75
89
77
99
74
92
89
89
67
Chicago
do
73
82
63
73
96
107
98
171
70
82
89
92
71
Cleveland
- - - do..
72
83
115
116
195
86
91
90
117
99
104
105
89
Dallas
do
70
86
74
61
79
90
88
94
154
67
64
87
• 82
Kansas City
- 1925= 100._
70
94
95
69
89
116
97
116
160
81
97
63
97
Minneapolis
1929-31=100..
63
104
172
74
87
67
97
69
115
80
86
85
71
New York
. — 1923-25=100..
P53
65
46
50
74
95
80
139
52
65
70
52
67
Philadelphia!
- - - do...
105
73
86
131
132
217
••84
82
118
115
105
102
75
Richmond
do
73
82
86
75
62
70
98
102
96
156
69
89
68
St Louis
- .do
93
88
81
94
98
105
103
179
80
89
83
96
San Franciscof
- - do
86
89
91
90
96
92
86
85
95
90
88
87
88
Sales total U S adjusted
do . .
116
135
••118
126
119
146
142
125
116
126
125
115
115
Atlanta
- - - do_.
91
85
95
98
90
89
98
94
92
86
84
98
88
Chicasfo
do - _
94
100
93
84
92
86
88
100
93
83
90
87
90
Cleveland!
- - do
101
103
107
104
104
103
113
113
104
105
107
105
105
Dallas
do
94
95
97
102
104
94
97
105
102
97
96
95
87
Minneapolis!
1929-31= 100 __
91
95
94
89
93
90
90
91
97
86
89
87
88
New York
1923-25=100..
P 70
67
67
74
69
76
72
66
78
70
71
68
68
Philadelphia!
do 94
85
87
90
94
92
82
87
85
86
86
79
88
St Louis
- do
99
104
98
99
95
100
97
100
99
97
99
98
San Francisco!
do
Installment sales, New England dept. stores
12.4
6.6
10.4
9.5
15.5
11.1
7.7
10.2
8.5
11.1
9.0
11.9
11.8
percent of total sales. _
Stocks, total U. S., end of month:
77
64
82
61
64
60
65
71
69
69
68
65
Unadjusted
_ 1923-25=100..
p 71
66
67
67
67
68
71
69
68
6£
68
67
68
Adjusted
do
Mail-order and store sales:
70, 532
77, 393
87, 257 107,493 122,191 108,095 148,447
98,070
92, 831 101, 936
59, 865
85, 497
Total sales, 2 companies
thous. of doL. 71,366
47, 764
44. 743
66,020
41,302
33, 452
38,998
42, 323
24, 904
35, 730
41, 595
54, 945
29,984
30, 530
M^ontgomcrv T\^ard & Co
do
60, 330
67, 246
82,427
43, 941
48, 259
40,548
62, 751
56, 768
34, 901
59, 613
49, 768
51,236
40,836
Sears, Roebuck & Co
do
r
p
Revised.
Preliminary.
i Discontinued pending receipt of revised data from one cooperator.
,
• Reports showing percentage changes in sales of chain drug stores and chain men's wear stores are available from the Washington, D. C. office of the Bureau of Foreign
and Domestic Commerce. The Bureau of the Census has available percentage changes for (1) Independent stores in 34 States and 4 cities, by kinds of business, (2) Wholesalers' sales, by kinds of business, (3) Manufacturers' sales by kinds of business.
.
t Revised series Indexes of department store sales in San Francisco area revised beginning 1919; see table 3, p. 18 of the January 1940 issue. Seasonally adjusted indexes
of department store'sales revised beginning 1929 for the Cleveland district and beginning 1934 for the Minneapolis district; see tables 4 and 5, p. 18 of the January 1940 issue.
Indexes of department store sales in Philadelphia revised 1923-39; see table 7, p. 10 of the March 1940 issue.
25
SURVEY OF CURRENT BUSINESS
April 1940
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey
ary
1940
1939
February
March
April
May
June
July
August
September
107.2
99.1
105.8
111.7
134.6
131.1
120.1
132.7
155. 0
146.1
132.6
116.3
126.4
165.6
162.3
125.4
113.5
128.6
150.0
138.7
Decem- JanuOctober Novemary
ber
ber
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
Rural sales of general merchandise:
Total U. 8., unadjusted
1929-31 = 100..
Middle West
do.—
East
do
South
do
Far West
do...
Total U. S., adjustedf
do
Middle Westf
do .
Eastt
do
South f
do
Far Westt. . do...
107.0
95.2
103.0
133.1
113.7
132.3
119.8
126. 0
145.9
153.7
100.1
89.1
97.9
134.8
105.7
123.7
112.1
119.6
147.8
142.9
115.0
105.2
118.6
141.5
118.5
131.0
118.7
132.0
156.6
144.0
120.2
110.2
116.6
144.8
125.8
130.8
118.0
122.4
164.3
140.9
120.5
113.3
118.8
137.6
131.8
131.2
119.6
129.1
162. 2
146.6
120.0
109.9
122.8
133.3
137.3
131.7
116.4
133.8
165.8
144.1
91.1
81.8
88.3
103.8
115.2
124.8
110.9
124.1
152.8
140.5
160.3
143.9
155.4
215.4
166. 5
123.4
113.3
120.7
145.4
138.7
159.7
142.8
167.0
208.2
164.7
122.7
108.9
129.5
151. 6
135.8
211.7
190.1
229.2
236.4
242.8
132.4
121.9
137. 7
157.4
148. 8
102.3
'96.6
99.2
'120.7
108. 4
134. 5
' 126. 3
130.6
' 152. 6
'147.5
EMPLOYMENT CONDITIONS AND WAGES
EMPLOYMENT
I
Factory, unadjusted (U. S. Department of
Labor)f
1923-25 = 100..
101.4
93.6
94.3
94.1
93.0
93.4
93.5
96.3
100.2
103.6
103.8
104.1 '101.5
Durable goods
do
96.6
83.3
84.1
84.8
84.0
84.6
83.0
83.9
89.8
96.1
98.2
100.1
'97.4
Iron and steel and their products, not
including machinery
1923-25 = 100-106.7
90.0
91.3
91.3
90.2
90.4
89.7
92.3
97.2
106.8 '111.1
111.4 '108.3
Blast furnaces, steel works, and rolling
mills
1923-25 = 100-117.4
94.8
95.6
95.7
94.6
95.7
95.3
97.0
101.1
115.1
121.8
123.3 '120.9
Hardware
do
100.8
87.6
87.4
85.0
80.1
72.1
69.0
75.6
94.2
99.7
106.4
105.6 ' 103.5
Structural and ornamental metal work
1923-25 = 100..
71.6
63.4
65.6
66.3
66.5
67.1
68.8
71.5
73.8
76.3
76.0
'75.4
73.4
T i n cans and other tinware
do
93.0
87.9
89.8
92.7
93.6
97.7
100.2
107.4
107.0
105.7 '100.6
'95.4 '93.6
Lumber and allied products
do
66.7
62.0
62.1
63.9
65.0
66.3
66.7
68.7
70.0
72.4
73.0
71.1 ' 6 7 . 3
Furniture
do.—
88.9
83.3
83.4
82.4
81.4
83.2
84.3
87.5
90.7
94.6
96.8
94.8 ' 9 0 . 3
Lumber, sawmills
do
59.2
55.0
55.0
58.0
60.2
60.9
61.1
62.7
63.4
65.5
65.5
63.3 ' 5 9 . 5
Machinery, not including transportation
equipment
1923-25 = 100-.
112.8
93.5
94.6
95.0
94.9
95.6
95.7
96.8
100.3
106.6
111.0
113.1 '112.4
Agricultural implements (including tractors)
1923-25 = 100, _
141.1
127.0
130.5
129.4
122.8
118.7
113.0
114.4
116.1
117.8
124.6
130.9 '135.2
Electrical machinery, apparatus, and
supplies
1923-25 = 100..
101.4
84.3
85.9
86.8
86.6
86.5
86.8
87.8
92.2
97.3
100.4
102.6 '101.7
Engines, turbines, water wheels, and
windmills
1923-25 = 100-. .133.1
90.0
93.2
95.7
97.4
99.0
96.2
96.8
99.2
105.2
109.8
119.8 '125.3
Foundry and machine-shop products
1923-25 = 100..
97.3
80.9
81.6
82.0
82.1
82.6
82.6
84.1
85.8
91.2
95.4
97.2
-"97.2
Eadios and phonographs
do
124.6
113.2
109.3
104.5
106.5
119.9
129.6
135.9
150.1
176.5
179.7
162.3 '136.2
Metals, nonferrous, and products
do
109.0
93.1
93.8
92.9
92.0
91.3
91.3
94.7
100.3
110.4
113.5
112.9 '109.7
Brass, bronze, and copper products.do
128.1
104.4
104.8
103.9
104.7
104.2
104.0
107.7
115.2
131.1
137.4
137.7 135.7
Stone, clay, and glass products
do
75.4
72.1
75.1
78.5
78.5
80.5
79.7
80.8
81.7
84.8
85.5
'83.6
77.7
Brick, tile, and terra cotta
do
52.7
51.7
53.4
57.6
57.6
61.3
61.5
61.8
63.2
64.8
64.7
62.6 ' 5 7 . 0
Glass
do
102.3
95.2
96.4
97.8
97.4
99.0
96.3
98.5
100.9
106.9
109.3
108.5 105.6
Transportation equipment
do
115.5
96.8
96.5
96.1
91.2
90.8
79.9
75.2
97.0
105.3
102.9 '116.5
'115.5
Automobiles
do
114.1
104.4
103.8
101.8
93.3
91.6
76.4
70.4
98.7
107.8
102.3 '118.1
'115.8
Nondurable goods
do
106.0
103.5
104.0
103.0
101.6
101.8
103.5
108.1
110.2
110.8
109.2 '108.0
'105.3
Chemical, petroleum, and coal products
1923-25 = 100..
121.0
113.4
116.0
116.6
112.9
109.8
110.4
109.2
118.0
122.3 '122.6
122.3 '121.0
Chemicals
do
135.2
118.1
118.6
117.0
116.5
116.5
117.1
119.1
123.6
133.6
137.7 '137.6
'135.8
Paints and varnishes
do
123.3
117.2
119.7
122.5
123.4
124.3
122.2
122.1
122.1
125.1
125.1
124.2 123.5
Petroleum refining
do
120.8
117.5
117.4
117.2
118.1
120.5
121.8
122.7
123.1
122.7
123.7
122.3 ' 1 2 1 6
Kayon and allied products
do
313.3
305.9
303.8
302.4
295.7
286.2
297.0
255.1
300.2
310.2
313.4
312.2 '313.5
Food and kindred products
do
118.4
114.2
115.4
117.6
120.5
127.2
135.0
147.0
150.7
137.7 '129.8
'126.0
'119.fi
Baking
do
142.1
142.2
142.8
142.7
146.1
147.4
147.8
146.9
148.0
148.0
146.5
144.8 '141.4
Slaughtering and meat packing
do
107.0
96.1
94.0
93.3
96.9
99.4
100.7
100.2
101.3
102.7
107.9
112.1 '111.8
Leather and its manufactures
do
99.1
103.0
103.9
100.2
92.5
94.1
99.7
100.7
97.8
96.2
91.9
93.2
97.4
Boots and shoes
do
98.1
102.4
103.8
99.6
91.0
92.5
99.1
100.3
96.5
94.1
89.0
90.8 ' 9 5 . 8
Paper and printing
do
114.7
111.0
111.1
111.1
111.2
109.8
110.1
110.9
113.2
116.5
117.5
118.5 '115.1
Paper and pulp
do
113.2
106.3
105.9
106.3
106.7
106.1
105.8
107.0
108.8
113.6
115.2
115.1 '114.1
Rubber products
do
88.2
81.5
82.8
82.1
81.2
80.1
78.7
82.6
86.0
92.4
93.9
93.0
90 0
Rubber tires and inner tubes
do
73.0
65.6
66.7
66.7
66.7
66.2
66.6
68.3
70.0
73.6
74.5
74.7 ' 7 3 . 6
Textiles and their products
do
105.6
104.6
104.9
101.9
99.4
98.0
98.1
103.5
104.5
108.3
107.9
105.8
103 7
Fabrics
do
95.8
94.1
93.1
90.7
90.3
89.6
91.1
93.1
93.5
98.8
100.9
98.7
96.1
Wearing apparel
do
123.0
123.9
127.0
122.8
115.6
112.6
109.5
122.1
124.8
124.7
118.7
116.9 '116.1
Tobacco manufactures
do
61.7
63.7
60.9
63.1
64.2
65.2
65.4
66.6
66.4
66.7
66.4
65.8 ' 5 9 . 0
Factory, adjusted (Federal Reserve)!
do
102.2
94.3
94.0
93.8
93.3
94.3
95.3
95.9
97.5
101.2
103.4
104 6 ' 1 0 3 9
Durable goods
do
97.5
84.2
83.7
83.9
82.9
83.9
84.7
85.3
88.9
94.6
97.3
100.0 ' 9 9 . 7
Iron and steel and their products, not
including machinery
1923-25 = 100-107.1
90.4
90.7
90.5
89.6
90.3
90.6
92.5
96.4
105.9 '110.8
112.2 '110.4
Blast furnaces, steel works, and rolling
mills
1923-25 = 100-117
94
94
95
94
96
96
97
101
115
122
124
122
Hardware
do
100
87
87
84
80
72
70
78
95
99
106
106
103
Structural a n d ornamental metal work
1923-25 = 100..
75
66
67
67
67
66
67
69
71
75
76
76
75
T i n cans and other tinware
do
100
95
95
96
95
95
95
98
97
103
'104
101
'101
L u m b e r a n d allied products
do
70.0
65.1
63.2
64.2
64.8
65.3
66.0
66.4
67.4
69.4
72.2
72.4
'72 0
Furniture
do
91
85
85
85
84
85
86
86
87
89
93
93
'94
L u m b e r , sawmills
do..63
59
56
57
59
59
60
60
61
63
66
66
65
Machinery, n o t including transportation
\
equipment
1923-25 = 100.113.4
94.0
94.8
94.9
94.4
95.4
96.1
97.3
99.8
105.7
110.6
112.9 ' 1 1 3 . 4
Agricultural implements (including tractors)
1923-25 = 100-137
123
124
122
119
118
115
121
123
125
128
131
133
Electrical machinery, apparatus, and
supplies
1923-25 = 100.102
85
86
87
86
87
87
88
92
97
100
103
'103
Engines, turbines, water wheels, a n d
windmills
1923-25 = 100-.
134
91
91
91
93
95
95
97
99
108
116
124
'133
F o u n d r y a n d machine-shop products
1923-25 = 100..
97
81
82
82
81
83
83
85
86
91
95
97
'98
Radios and phonographs
do
142
129
130
124
121
122
131
126
129
145
160
153
' 143
Metals, nonferrous, and products
do
107.4
93.4
93.4
93.2
92.8
92.8
94.6
96.3
99.2
107.0
110.0
111.3 ' 1 1 1 6
Brass, bronze, and copper products.do
128
104
104
103
104
105
106
109
115
130
137
138
137
Stone, clay, and glass products
do
80.8
77.4
77.4
77.9
75.4
77.5
78.4
78.1
79.0
81.9
'85.0
85.4
85.8
Brick, tile, and terra cotta
do
61
59
58
58
55
57
58
57
59
61
64
65
66
Glass
do
102
95
95
97
96
98
98
99
100
106
'109
109
112
Transportation equipment
do
111.4
92.9
91.2
91.1
87.2
88.9
90.0
88.3
99.5
105.6 '101.3
112 8
'113 1
Automobiles
do
108
98
97
96
89
89
90
88
102
108
100
113
'111
' Revised.
fRevised series. Rural sales of general merchandise adjusted for seasonal variations revised beginning J a n u a r y 1934: see table 37, p . 17, of the August 1939 issue. D a t a
for employment a n d p a y rolls without adjustment for seasonal variations beginning 1933 a n d for all series o n ' e m p l o y m e n t adjusted for seasonal variations have been
corrected to the trends indicated b y the Census of Manufactures for 1935 a n d 1937. For total, durable, and nondurable goods indexes, see table 42, p . 17, of the October 1939
issue a n d tables 1 a n d 2, p p . 15-16, of the December 1938 Survey. For individual industries a n d industrial groups, data from 1935 to date are available upon request. Earlier
are correct as shown in tables 76 a n d 77, p p . 13-18, of the November 1938 issue.
for figures
FRASER
Digitized
218750—41
26
SURVEY OF CUERENT 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
1940
February
April 1940
1940
1939
February
March
April
May-
June
July
August
September
DecemOctober November
ber
January
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT—Continued
Factory, adj. (Federal Reserve)!—Continued
Nondurable goods
1923-25 = 100..
Chemical, petroleum, and coal products
1923-5=100—
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, unadjusted, by cities and States:
City or industrial area:
Baltimore
1929-31 = 100-.
Chicago
1925-27=100.
Cleveland
1923-25 = 100-.
Detroit
do
Milwaukee
1925-27=100.
New York
_
do
Philadelphia!
1923-25 = 100.
Pittsburghf
do—.
Wilmingtonf
do—
" State:
Delaware!
do
Illinois
1925-27=100.
Iowaf
1923-25 = 100Maryland
1929-31 = 100Massachusetts
1925-27=100.
New Jersey!
1923-25=100New York
1925-27=100.
Ohio
1926=100.
Pennsylvania!
1923-25=100.
Wisconsin!
1925-27=100.
Nonmanufacturing, unadjusted (U. S. Department of Labor):
Mining:
Anthracite
1929 = 100.
B ituminous coal
do
Metalliferous
do—
Petroleum, crude, producing
do—
Quarrying and nonmetallic
-___do—
Public utilities:
Electric light and power!
do—
Street railways and busses!
do...
Telephone and telegraph!
do—
Services:
Dyeing and cleaning
do._.
Laundries
do
Year-round hotels
do—
Trade:
Retail, t o t a l !
do—
General merchandising!
do
Lumber and building*
do
Wholesale
do
Miscellaneous employment data:
Construction employment, Ohio.-1926=100
Federal and State highway employment:
Total
number.
Construction (Federal and State)..do
Maintenance (State)
do
Federal civilian employees:
United States
do....
District of Columbia
do
Railway employees (class I steam railways):
Total
thousands.
Unadjusted
1923-25=100
Adjusted
do—
Trades-union members employed:
All trades
percent of totalBuilding
do.-..
Metal
do—
Printing
do—
All other
do...
On full time (all trades)
do—
106.6
103.9
103.8
103.3
103.3
104.2
105.3
105.9
105.7
107.6
109.2
108.9
' 108. 0
120.6
137
125
122
309
130.4
144
107
95. 3
94
114.8
113
88. 1
73
102.8
93.4
119.3
62.7
112.9
120
118
119
301
125.7
144
96
99.0
98
111.1
106
81.4
66
101.8
91.7
120.2
113.4
120
120
119
299
127.3
144
96
99.2
98
111.4
106
82.2
67
101.0
91.0
119.2
61.4
114.2
118
121
118
309
127.0
144
96
97.7
97
111.5
106
81.3
67
99.6
90.2
116.4
64.5
114.4
117
119
119
302
128.4
146
98
93.7
92
111.5
107
81.1
67
99.8
91.0
115.2
65.1
113.1
117
120
120
295
129.4
147
100
97.1
96
111.1
106
80.8
66
101.2
92.0
117.5
65.5
113.7
115
122
121
298
127.9
147
101
98.7
98
111.8
106
79.7
67
104.1
94.5
121.1
65.7
111.9
119
125
122
254
129.7
146
101
97.4
96
112.0
107
83.6
68
104.9
95.4
121.4
65.2
116.4
122
123
122
297
128.1
146
102
96.8
95
112.8
109
86.1
70
103.6
94.1
120.4
64.4
H9.9
132
125
122
309
r 126.9
Li 4 6
U03
97.4
96
115.0
114
91.2
74
106.2
97.8
120.4
63.5
121.2
137
126
123
310
129.5
145
106
99.1
98
115.7
115
93.1
75
107.7
r 99.9
120.5
63.1
121.8
138
126
122
311
131.3
145
108
96.9
96
116.4
115
92.4
75
106.1
97.1
121.6
64.7
121.4
138
127
122
'310
r
130. 7
144
108
-97.3
96
'115.4
114
' 90. 2
74
104.7
95.3
121.2
r
64. 2
89.2
70.6
82.3
97.7
94.8
90.5
81.1
72.6
83.0
90.3
69.8
82.2
96.0
94.5
88.0
•81.0
73.1
84.4
91.7
70.0
81.8
62.4
92.9
85.5
80.1
71.7
83.9
91.7
70.5
81.4
86.7
94.3
83.6
81.1
73.6
81.0
92.6
70.9
80.3
59.5
92.2
83.1
81.9
73.4
78.1
93.8
72.2
82.8
89.4
94.3
91.1
83.1
76.4
75.6
74.3
90.0
107.1
98.0
95.3
83.7
79.2
79.9
101.0
78.5
93.3
102.4
96.2
97.8
88.1
87.9
86.9
101.8
80.3
95.7
105.9
102.7
95.9
87.7
92.1
89.6
102.6
80.4
94.9
112. 1
104. 0
95.1
86.9
93.4
90.0
101. 3
78.4
94.6
104. 9
101.6
92.1
' 85. 5
•• 92.0
89.0
100.8
78.1
94.6
110.7
97.2
95.9
86.6
89.8
88.0
70.4
81.8
99.3
93.6
89.1
81.5
71.9
81.8
96.1
85.9
135. 7
104.0
80.7
103. 5
90.9
95.0
88.3
89.5
90.5
76.8
128.0
92.4
74.6
93.8
81.9
86.0
r 80.4
82.7
91.4
77.8
129.0
94.5
74.8
94.2
82.7
87.1
80.4
93.1
77.6
131.1
95.5
73.1
93.7
82.0
86.6
80.1
83.7
92.8
77.6
131.9
95.8
71.6
94.3
80.4
85.2
78.8
84.5
90.0
78.1
133.2
95.8
71.2
95.4
80.9
85.5
79.7
89.0
78.3
129.2
96.7
73.3
94.4
80.6
84.7
81.0
89.2
93.7
80.7
129.3
90.5
75.5
97.7
84.0
87.2
82.5
90.0
82.3
129.4
101.5
76.8
100.1
87.5
91.1
83.7
90.9
98.6
86.0
132.4
104.8
80.2
105.0
90.6
95.7
90.0
89.4
98.2
87.7
137.0
105.5
80.5
107.4
91.3
97.0
91.7
92.1
98.4
87.8
140.4
105. 8
79.6
106.2
91.4
97.8
91.4
92.9
97.1
86.0
136.2
104.4
78. 5
103.4
89.7
' 95.6
' 88.9
91.0
52.0
91.8
66.1
63.1
38.1
52.2
88.6
66.4
37.9
51.7
87.4
61.0
66.2
40.1
53.0
25.9
61.5
65.8
43.0
52.6
47.9
61.9
66.1
45.6
51.2
78.3
61.6
67.0
47.3
44.7
79.4
60.4
67.3
47.5
48.5
81.4
60.4
66.7
48.1
49.4
85.4
62.9
65.0
47.9
51.9
93.0
65.3
64.3
48.0
51.3
94.9
66.5
63.8
47.1
51.0
92.6
67.3
63.8
44.0
51.5
91.7
66.6
63.1
37.5
89.4
76.6
75.8
76.1
74.3
87.0
76.3
74.4
87.7
75.9
75.1
88.2
76.3
75.8
89.2
76.8
76.4
90.0
76.5
76.5
90.6
76.6
76.6
90.6
76.6
76.4
90.4
77.0
76.5
90.3
76.8
76.1
90.1
76.4
75.8
93. 6
95.7
93.0
92.1
92.8
92.6
95.4
92.9
92.7
102.2
93.5
93.2
107.0
95.5
93.9
110.1
98.7
92.8
106. 5
100.0
90.3
102.7
99.1
105.2
97.8
91.3
105.1
96.0
92.9
97.8
95.6
91.8
97.4
95.6
90.8
93.9
95.8
91.4
87.1
88.1
69.2
90.3
84.9
85.2
68.1
87.9
89.1
69.1
88.5
92.7
70.5
87.3
92.8
72.1
87.2
89.4
93.3
73.4
88.1
87.2
88.2
72.2
86.3
86.3
74.3
89.0
90.5
95.8
75.2
90.5
91.7
98.9
76.3
92.4
93.3
105.9
75.1
92.1
104.2
146.4
73.4
92.2
88.3
90.7
69.6
90.5
31.2
r
89. 0
75.9
76.2
28.6
32.4
35.0
43.0
43.6
50.0
48.0
48.0
44.2
41.3
31.6
176, 079
58,815
117, 264
169,155
58, 622
110,533
187, 523
78, 394
109,129
220, 923
104,804
116,119
252, 316
130, 743
121, 573
264, 502
138, 345
126,157
274, 949
142, 788
132,161
277, 703
142,868
134, 835
202, 760
133,904
128,856
227, 233
112,816
114,417
185, 661
81, 845
103, 816
145, 707
42, 960
102, 747
875, 541
120, 445
879,504
120, 873
885.766
122, 003
903,112
122, 792
925, 982
123, 541
928,195
124,015
933,386
124, 634
940,130
125, 902
937,576
126,502
932, 641
126, 277
986, 742
127, 406
936, 689
127,418
1,010
1,019
1,022
1,039
1,075
1,058
1,029
1,008
53.2
53.6
53.6
53.0
55.6
54.4
56.1
54.7
56.3
54.9
57.1
56.0
59.1
57.5
58.2
57.7
56. 5
57.9
55.4
'57.7
89
' 74
88
' 90
" 93
72
88
72
88
91
92
70
958
966
52.7
54.8
53.1
54.6
85
66
79
86
68
82
89
91
67
0)
0)
0)
0)
0)
0)
LABOR CONDITIONS
Average weekly hours per worker in factories:
National Industrial Conference Board (25 industries)!
hours.
U. S. Department of Labor (87 industries)!
hours...
r
36.8
36.9
36.8
36.5
37.1
37.1
37.9
38.2
39.0
39.1
39.1
38.7
37.1
37.3
36.7
36.9
37.3
36.7
38.0
38.0
39.1
38.5
38.6
37.4
l
Revised.
Discontinued by reporting source.
*New series. Data for employment by lumber and building material dealers not shown on p. 26 of the March 1940 Survey will appear in a subsequent issue.
!Revised series. Iowa employment revised beginning July 1937; revisions are shown on p. 26 of the March 1939 Survey. Wisconsin employment and pay rolls have been
adjusted, beginning 1929, to trends indicated by Census data. Indexes not show^n on p. 26 of the November 1938 Survey will appear in a subsequent issue. Other State
and city employment indexes revised beginning with the year specified: Philadelphia, 1932; Pittsburgh, 1932; Wilmington, 1931; Delaware. 1931; New Jersey, 1931; and Pennsylvania, 1932; data appear in table 12, p. 14 of the March 1940 issue. For data on factory employment, adjusted (Federal Reserve) revised, see footnote marked with a " ! " on
p. 25. For U. S. Department of Labor average weekly hours per worker in factories, see note marked with a " f on p. 29. For revised data on indicated nonmanufacturing
employment series, see footnote marked with a " t " on p. 28. National Industrial Conference Board data relating to factory weekly and hourly earnings and to weekly hours
per worker have been revised beginning 1934;see table 2, p. 18 of the January 1940 issue.
27
SURVEY OF CURKENT BUSINESS
April 1940
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
1940
1939
1940
February
March
April
May
June
July
August
September
DecemOctober November
ber
January
EMPLOYMENT CONDITIONS AND WAGES—Continued
LABOR
CONDITIONS-Continued
Industrial disputes (strikes and lockouts):
Beginning in m o n t h
number.
I n progress during month
do - _ Workers involved in strikes:
Beginning in m o n t h
thousands.
I n progress during month
do.-,
Man-days idle during month
do.,,
Employment
operations
(Social
Security
Board):
Applications:
Active
file
„
thousands.
New
do_-_
Placemcnts, total
do-._
Privato
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.._
140
I>275
'251
'403
'176
'340
'184
'323
'60
'283
'88
' 187
»190
' 175
'211
1,164
'78
r Hg
' 1, 099
'36
'103
'884
'105
'138
' 1,498
'42
128
' 1, 643
'11
'34
'350
*>200
6,283
570
344
251
6,101
494
286
213
5,790
558
336
254
5,682
5,466
5,629
0)
0)
0)
4.0
3.5
4.4
5.1
'208
••347
'280
'428
' 256
'430
'239
'399
••552
43
T)5
••617
396
'426
4,900
95
'457
* 3, 546
62
127
'956
7,080
483
181
126
6,749
500
254
185
6,545
478
270
195
6,382
516
333
242
1.8
2.7
3.0
3.8
3.06
3.34
2 93
3.29
r
222
'356
••203
•"342
3.92
r
4.16
5.06
352
287
6.17
366
308
5.6
5.89
289
249
4.4
4.10
2.61
.10
1.87
.64
3.18
.13
2.23
.82
3.46
.10
2.60
.76
3.48
.13
2.67
.68
3.31
.12
2.46
3.36
.12
2.54
.70
3.01
.14
2.05
.82
2.79
.14
1.58
1.07
2.91
.17
1.81
.93
2.95
.15
1.97
.83
97.8
96.7
86.0
77.7
87.6
79.4
85.5
79.5
85.0
78.8
86.5
80.7
84.4
76.0
89.7
81.5
93.8
87.8
101.6
99.6
101.6
100.9
101.0
81.7
83.6
82.0
80.2
82.6
78.6
88.0
92.8
112.1
114.7
*>25
5,746
C1)
265
235
6,066
0)
221
196
4.1
3.2
2.84
'3.74
3.46
.12
2.65
.69
3.43
.14
2.55
.74
PAY ROLLS
Factory, unadjusted (U. S. Department of
Laborjf
1923-25=100..
Durable goods
d o . _.
Iron and steel and their products, not including machinery
1923-35=100,
Blast furnaces, steel works, and rolling
mills
1923-25=100,
Hardware
do
Structural and ornamental metal work
1923-25 = 100,.
Tin cans and other tinware
do
Lumber and allied products
do
Furniture
do
Lumber, sawmills
do
Machinery, not including 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.
F o u n d r y 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 c o t t a . . .
do
Glass
do
Transportation equipment
do
Automobiles
do,_.
Nondurable goods
do _ _.
Chemical, "petroleum, and coal products
1923-25=100,..
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, unadjusted, b y cities and States:
City or industrial area:
Baltimore
1929-31 = 100..
Chicago
1925-27=100..
Milwaukee
do
New York
do .__
Philadelphia!
1923-25=100.Pittsburghf
do
Wilmingtonf
do . . .
State:
Delaware!
do,_.
Illinois
1925-27 = 300..
Maryland
1929-31 = 100._
Massachusetts
1925-27=100..
New Jersey!
1923-25=100..
New York
1925-27=100..
Pennsylvania!
1923-25=100..
Wisconsin!
1925-27=100. _
110.1
100.4
85.9
81. 6
87.3
84.7
85.2
79.3
82.3
77. 6
85.9
73.8
82.0
65.4
92.7
80.1
95.3
113.9
123.6
109.6
127.3
118.6
61.3
92.5
59.8
76.7
51.8
53.0
87.1
52.7
69.6
44.3
55.9
94.0
53.6
69.8
45.7
57.7
95.4
55.4
67.0
49.9
57.3
98.2
58.0
66.6
54.2
58.8
103.2
60.1
68.5
55.9
58.7
102.8
56.4
68.0
50.5
63.9
114.9
62.9
75.5
56.8
63.3
117.4
63.5
78.1
56.5
68.3
111.3
68.7
84.9
61.6
67.1
105.4
68.8
86.2
60.8
119.2
90.8
93.4
92.8
94.0
95.4
94.0
96.9
100.9
111.0
117.1
163.8
141.2
111.2
171.5
104.0
' 103. 7
' 104. 6
'115.3
' 106. 3
129.2
117.0
119.3
67.7
100 4
65 2
85 5
55 4
'62.6
96.9
'58.8
'74.6
'51.1
122.1
r
151.5
'155.8
119.1
146.4
144.5
134.9
127.3
122.7
124.0
125.0
131.3
140.5
90.1
89.2
90.6
91.6
91.0
93.4
98.4
105.7
109.6
114.2
'112.4
139.1
' 156. 6
'161.4
'95.2
' 122.2
' 108. 7
150.3
'66.9
'43.4
r
113.1
-118.3
110.9
98.5
109.0
111.9
114.0
114.3
110.2
113.5
116.2
129.2
93.0
74.8
113. 6
82.4
103.9
65.9
46.4
91.5
76.6
72.9
93.7
78.4
122.8
88.7
110.5
71.6
50.1
102. 5
78.3
75.0
99.0
80.2
139.0
96.5
122.8
71.7
50.4
105.0
99.5
102.9
100.5
89.5
169.6
113.6
154.1
80.3
56.6
121.2
109.9
113. 3
102.9
94.3
170. 3
115.4
157.0
78.9
54.3
121.0
' 105. 6
' 106.0
102.4
98.6
148.8
116. 5
158.9
76.4
51. 6
118.9
r
124.1
' 127. 9
102.8
118.7
131. 5
128.9
134.4
271.8
123.8
138.1
10«. 7
74.6
70.4
103.5
104.5
82.1
74.8
79.6
75.6
82.3
61.5
117.9
130.8
124.0
131.5
283.2
128.6
139.1
109.2
83.6
81.9
102.0
101.2
81.5
77.1
79.3
76.6
79.7
61.8
119.0
136.3
125.6
135.9
246.6
135.1
135. 3
105. 8
84.6
82.9
103.7
107.7
86.3
78.9
88.2
80.2
98.3
62.7
124.6
139.7
127.5
134.8
286.4
139.7
138.8
107.9
76.6
72.4
109.3
113.4
91.0
82.7
86.6
81.0
92.1
62.9
133.3
157. 9
134.6
140. 0
303.0
130.0
136.6
107.7
76.5
71.1
113.8
125.6
101.9
90.6
93.7
88.0
98.7
63.4
' 133.1
' 161. 5
131.5
137.9
310.4
' 125.3
136.9
112.7
71.1
64.6
114.2
124.6
99.8
85.9
92.9
91.7
89.2
62.9
' 133. 4
' 162. 3
130.5
137.6
314.0
124.4
134.1
121.5
75.4
70.2
116.8
122.5
100.5
89.9
91.8
89.5
'90.2
62.3
131.0
• 159.8
' 128. 5
133.5
• 320.4
'117.1
• 131.1
"118.9
'82.3
'79.1
110.0
•117.6
94.6
'85.1
'87.6
'84.8
'87.4
'52.9
107.2
57.8
92.8
77.7
73.6
62.4
76.4
110.5
58.7
96.5
76.9
76.5
66.5
75.8
110.6
59.1
92.4
76.3
77.6
62.4
71.4
114.0
61.3
98.1
85.5
79.1
72.0
67.7
118.3
62.8
96.4
86.4
79.7
72.6
73.7
126.2
67.4
103.4
90.1
85.6
92.7
81.7
128.2
67.5
109.4
87.4
85.6
96.1
83.7
128.1
69.4
110.6
88.7
86.0
98.7
'85.7
'124.2
66.9
104.3
84.5
'83.8
'92.3
82.3
85.3
66.4
107.0
67.0
87.3
74.4
67.5
86.3
85.0
67.3
110.4
67.5
89.2
75.9
70.4
89.2
81.1
66.6
110.4
70.1
87.7
75.8
69.2
86.6
79.7
70.3
110. 2
72.1
91.8
80.2
74.2
91.6
86.7
71.7
117. 5
74.2
94.2
82.4
74.9
90.1
92.1
77.9
126.9
77.4
104. 3
87.4
88.7
96.2
92.9
77.8
127.8
78.9
106.4
87.8
89.7
99.4
94.9
79.1
127.7
79.6
105.7
89.3
'90.1
100.1
91.1
75.7
• 123.8
77.7
100.6
86.2
'84.4
94.7
94.1
113.1
103.2
136.3
65.4
39.4
108.3
119.3
119.9
99.0
72. S
96.3
85.3
100.4
61.6
38.6
97.9
91.6
97.3
95.3
74.2
93.4
86.2
102.7
65.5
40.4
100.0
91.7
97.0
96.7
73.5
88.7
83.2
99.9
66.4
43.0
93.8
94.2
99.5
92.2
75.0
92.3
84.0
103.5
67.7
43.8
96.3
87.3
88.0
91.9
76.9
104.5
84.0
103.1
70.6
50.1
100.8
131.3
158.2
129.3
134.7
321.3
115.4
132.2
109.1
82.3
79.8
108.8
117.3
88.3
80.3
91.1
84.2
98.8
54.0
118.9
132.0
117.9
132.5
287.8
110.0
130.0
98.5
89. 5
87.8
103.6
105.2
81.0
71.0
90.3
82.5
99.6
52.7
120.6
133.3
122.7
131.6
286.9
111.8
131.3
97.8
89.4
88.3
105.4
105.6
83.2
74.1
91.4
80.6
106.8
53.3
119.5
130. 2
]25.6
128.6
278.6
112.1
129.1
96.7
79.8
77.3
104.5
104.7
81.0
71.7
82.0
74.9
90.5
55.0
119.6
131.3
129.8
132.2
273.0
118.8
136. 5
104.7
68.6
63.8
105.1
105. 6
80.0
71.6
79.9
75.3
83.5
57.7
122.8
66.1
100.1
87.8
83.6
87.1
82.6
99.5
57.3
95.4
82.0
75.1
64.7
73.6
103.2
59.0
97.0
86.9
75.9
65.2
75.6
102.5
57.3
94.7
79.5
72.6
63.4
77.1
91.6
75.8
122.1
74.4
100.0
86.7
81.8
94.7
82.5
65.1
102.2
70.9
86.1
76.8
70.0
85.7
84.7
67.3
105.3
71.2
88.1
79.4
70.8
86.7
86.5
66.2
104. 5
68.2
86.0
76.4
67.8
85.3
l
' Revised.
v Preliminary.
JTitle changed from U. S. Employment Service.
Discontinued by original source.
!Revised series. For data on factory pay rolls (U. S. Dept. of Labor), see footnote marked with a "f" on p. 25. For Wisconsin pay rolls, see footnote marked with a
" t " on p. 26. Other State and city pay-roll indexes revised beginning with the year specified: Philadelphia, 1932; Pittsburgh, 1928; Wilmington, 1930; Delaware, 1932; New
Jersey, 1932; and Pennsylvania, 1932; data appear in table 12, p. 14 of the March 1940 issue.
28
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
1940
February
April 1940
1940
1939
February
March
April
May
June
July
August
September
DecemOctober November
ber
January
EMPLOYMENT CONDITIONS AND WAGES—Continued
PAY EOLLS—Continued
Nonmanufacturing, unadjusted (U. S. Department of Labor):
Mining:
Anthracite
1929=100_.
Bituminous coal
do
Metalliferous
do
Petroleum, crude, producing
do—
Quarrying and nonmetallic
do
Public utilities:
Electric light and powerf
do—
Street railways and bussest
do
Telephone and telegraph f
do
Services:
Dyeing and cleaning
do
Laundries
do
Year-round hotels
do—
Trade:
Ketail, totalt
do....
General merchandisingf
do—
Lumber and building*
do
Wholesale
do
32.9
88.0
63.8
58.7
30.9
45.2
81.2
53.4
62.7
29.7
34.2
77.8
53.6
61.3
33.1
43.4
17.6
52.6
60.8
35.9
57.0
20.4
54.1
61.2
39.7
36.1
66.5
53.8
62.5
41.7
25.2
64.5
48.5
61.9
40.9
33.8
74.6
53.0
62.0
42.9
40.1
80.2
55.1
60.8
42.7
52.2
97.6
63.4
58.8
45.6
42.0
96.3
63.9
59.6
42.9
26.6
84.3
65.0
59.2
39.2
52.5
90.8
63.1
58.4
29.8
102.5
71.9
95.5
97.7
68.7
93.6
98.2
69.3
93.8
98.3
68.4
94.0
99.9
68.9
95.7
101.2
70.0
95.7
101.1
69.4
96.6
102.2
69.8
96.3
102.2
69.2
96.9
102.0
71.2
97.2
102.5
69.4
96.4
102.4
69.6
97.4
101.1
69.3
98.6
64.3
82.9
82.9
63.2
78.6
82.8
67.7
79.3
81.1
73.3
79.9
81.9
83.0
83.9
82.4
84.2
86.9
82.0
77.1
88.0
79.1
73.0
85.9
79.2
78.3
84.5
80.4
77.3
83.9
82.2
70.8
82.9
81.8
69.9
83.7
81.1
65.8
83.3
81.0
79.1
80.6
63.9
76.8
76.5
78.1
62.0
74.6
77.7
80.3
63.0
74.7
79.6
83.5
64.8
74.8
79.9
83.6
67.1
74.9
81.1
85.1
69.0
75. 8
79. 5
81.3
67.6
75. 8
78.0
78.6
69.6
76.2
80.9
85.3
70.5
78.0
83.2
88.5
72.6
80.3
83.6
92.4
70.7
79.0
91.8
125.8
69.2
79.1
84.3
64.4
77.3
WAGES
Factory average weekly earnings:
National Industrial Conference Board (25
27.61
28.49
28.24
26.11
26.64
27.29
26.19
26.67
28.09
26.25
26.27
27.58
28.49
industries)!
dollars..
25.73
24.01
23.79
23.84
24.17
23. 64
24.52
25.81
r 26. 26
25.51
24.18
24.72
U. S. Department of Laborf
do—
26. 92
' 29.41
r 30. 04
26. 78
26.82
27. 26
28.96
27.02
26. 31
27. 92
28.18
29.71
Durable goods
do—
Iron and steel and their products, not in31.09
r 30.55
26. 70
28.17
' 30. 71
29.07
cluding machinery
dollars .
26.89
26.17
Blast furnaces, steel works, and rolling
33.08
31.25
28.47
33.19
mills
dollars30.13
33.91
28.30
27 12
28.81
28.07
27.40
27.44
26.01
Hardware
do.. _
23.04
25. 21
26.10
23. 93
23. 05
23*38
29. 85
27.58
27.13
23.87
Structural and ornamental metal work
28.52
r 28. 74
27. 65
dollars.
28.74
28.87
26.93
28.06
28.13
27.42
27.62
27.54
27.71
r 23. 82
23. 46
24.20
23.86
r 23. 70
Tin cans and other tinware
do-._
22. 33
23. 19
23.82
23.12
23.57
23.66
24.86
19.10
20.18
Lumber and allied products
do-__
20.14
20. 80
19.04
' 20. 63
19. 18
19.95
18. 61
19.19
19.72
19.95
19. 95
21.87
20.90
21.72
20.26
Furniture
do___
19. 74
19.91
19.47
21. 63
20.20
19. 86
20.95
17.73
18.11
18.
76
19.45
Lumber, sawmills
do.. _
17.18
18.04
19.21
17.08
18.95
18.39
19.20
17. 57
Machinery, not including transportation
29.74
30.
25
equipment
dollars _
29.20
27.27
28.07
28. 23
27.45
27. 86
27.97
27. 55
29.51
27. 67
Agricultural implements (including
30.91
31.07
tractors)
dollars __
29.96
29.92
30.00
29.56
28.85
29.20
29.11
28.91
30.27
30.19
Electrical machinery, apparatus, and
29.67
29.89
supplies
dollars _
29.24
28.11
28.42
28.05
28.50
28.71
29.34
28.09
Engines, turbines, water wheels, and
'
34.49
34.10
windmills
dollars30.95
30.57
30.36
32.48
31.01
30.97
30.50
30.94
33.46
30.92
Foundry and machine-shop products
30.35
29.27
dollars. _
29.43
26.69
29.27
27.02
26. 70
27.71
26.95
27.78
27.86
27.23
22.71
22.22
23.47
Radios and phonographs
do.
21.15
23.79
21.63
22.38
22.92
21.14
21.19
21.73
21.71
28.67
27.37
28.26
Metals, nonferrous, and products. _. do
25.48
25.52
25.98
26.69
28.58
25.60
24.90
25.38
25.11
Brass, bronze, and copper products
30.28
31.63
dollars. .
26.42
32.21
31. 39
26.98
26. 43
27.32
27.53
28.00
29.15
27.18
23.58
25.01
Stone, clay, and glass products
do
' 25. 24
23.43
25.98
23. 72
23.94
24.26
24.03
22.96
23.47
22. 58
19. 52
21.18
21.58
Brick, tile, and terra cotta
do
22.51
19.47
19. 59
21.25
21.17
20.52
19. 46
19.91
19.58
26.27
26.78
27.71
27.06
Glass
do
25.04
25. 30
24.86
25.45
25.43
23.37
24.15
23.26
33.23
' 34. 51
33.82
Transportation equipment
do
' 33.26
30.69
30.81
31.73
33.25
31.80
31.04
31.06
33. 71
34.28
r 35.81
34.75
Automobiles
do
r 34.25
30.80
30.87
31.94
34.41
32. 33
31.18
31. 50
35.15
21.87
' 22. 30
22.02
Nondurable goods
do. _ _.
r 22.03
21.47
21.58
21.31
21.54
20. 89
21.09
21. 25
21.58
Chemical, petroleum, and coal products
29.54
r 29.49
29.22
28.38
29.49
' 29. 61
dollars. _
28.14
27.63
28.85
28.74
29.23
28.60
31.82
32.51
' 32.07
30.89
Chemicals
do
31.08
30.66
30.74
31.48
31.08
'31.86
31.00
31.07
28.44
29.46
28.75
27.84
Paints and varnishes
do.
28.30
28. 24
28.14
28.47
28. 65
28.72
29.12
28.62
34.42
35. 27
35.77
35. 23
Petroleum refining
do_
35.20
34. 39
33.91
34.38
34.94
34. 76
35.10
34. 99
26.24
25.82
25.03
24.15
Rayon and allied products
do....
24.24
24.47
24.49
25.42
23. 64
24.81
23.70
24.38
25.32
r 25. 48
24.34
24.83
Food and kindred products
do
25. 00
24.61
24.19
r 24.80
24. 57
25.48
23. 95
25.13
25.84
25. 83
25.65
25.40
Baking
do._.
25. 52
26. 05
26.00
25.97
25. 11
25. 91
25.49
25.96
27.94
28.51
27.60
26.98
Slaughtering and meat packing._do_,_
27.32
28.54
27.99
27.45
27.23
27.77
28. 39
28.25
19.89
19.09
18.74
20.19
Leather and its manufactures
do._.
20.12
19.72
18.45
18.20
18.73
19.78
17.43
18.65
18.78
17.62
17.20
19.13
Boots and shoes
do___
19.17
18.74
17.04
16.46
17.58
18.74
15.93
17.28
28.66
29.51
29.40
27.89
Paper and printing
do__.
27.57
28.89
' 29. 26
2«. 08
28.04
28. 37
28.22
28.10
25.
35
26.19
27.19
24.16
Paper and pulp
do
25.64
26.61
24.11
24.43
24. 25
24.13
24.
65
23. 40
28.54
29. 50
30.11
27.11
Rubber products
do_
28.93
28. 95
27.00
27.40
26.78
27.88
28. 52
28.22
34.08
35.11
35.
91
31.68
Rubber tires and inner tubes
do_
34.55
33.64
31.48
32. 54
31.46
33. 06
33.77
33.84
17.26
' 17. 72
17. 58
17.35
Textiles and their products
do
16.91
17.68
10,36
17.38
16.36
16. 51
17.20
16.46
r
17.07
17. 54
17.21
16. 81
Fabrics
do
16.73
17.64
1 -. 86 16.02
16. 56
16.20
16. 63
16. 23
17.85
' 18. 26
18.63
19.03
17. 40
Wearing apparel
do
17.81
17.84
19.91
17.43
17.46
18.77
17.14
16.52
17.55
17.47
15.19
17.44
17.50
Tobacco manufactures
do
16.08
16.22
16.60
17.19
17.43
17.48
Factory average hourly earnings:
National Industrial Conference Board (25
.729
.727
.713
.727
industries)!
dollars. _
.715
.721
.721
.724
.717
.720
.720
.722
.728
. 662
.663
U. S. Department of Laborf
do
.643
.653
.645
.637
.646
.642
.643
.642
.634
.638
'.727
.727
Durable goods
do
.709
.715
.711
.702
.713
.710
.707
.708
.709
Iron and steel and their products, not in.772
cluding machinery
dollars..
.753
.752
.767
.752
.759
.764
.756
.761
Blast furnaces, steel works, and rolling
.841
.851
mills
dollars.835
.835
.835
.835
.849
.845
.847
.843
.848
.670
Hardware
do
.651
.722
.655
. 655
.651
.669
.676
.685
.655
.625
Structural and ornamental metal work
dollars.
.729
.731
.731
.727
.721
.722
.726
.721
.725
.725
'.731
.727
Tin cans and other tinware
do
.610
.611
.609
.604
.605
.608
.608
.615
.610
.614
.619
.619
Lumber and allied products
do
.498
.502
. 504
.498
.502
.487
.492
.501
.502
.514
.513
.512
Furniture
do
. 532
. 530
.527
.528
.529
. 523
.527
. 530
.527
.536
.544
.538
Lumber, sawmills
do
.471
.481
.484
.473
.481
.452
.460
.479
.483
.497
.489
.491
r
Revised.
•New sorbs. Data not shown on p. 2^ of the March 1940 issue for pay rolls of lumber and building material dealers will appear in a subsequent issue.
tRevised series. For revisions in National Industrial Conference Board factory weekly and hourly earnings, see note marked with a " f on p. 26; for revisions in the
U. S. Department of Labor data on tho same subject, see note marked with a " t " on p. 29. The indicated nonmanufacturing employment and pay-roll series have been revised
beginning with 1929 except for the telephone and telegraph series for which revisions becjin in 1932; revised data not shown on p. 28 of the March 1940 issue will appear in a
subsequent Survey.
29
SUEVEY OF CUEKENT BUSINESS
April 1940
Monthly statistics through December 1937, to- 1940
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
June
May
1939
1940
July
Sep- October Novem- Decem- JanuAugust tember
ary
ber
ber
EMPLOYMENT CONDITIONS AND WAGES—Continued
WAGES—Continued
Factory average hourly earnings—Continued.
U. S. Dept. of Laborf—Continued.
Durable goods—Continued:
Machinery, not including transportation
equipment
dollars
Agricultural 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
Chemical, petroleum, and coal products
dollars
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:
Delaware
1923-25=100..
Illinois
1925-27=100..
Massachusetts ._
do
New Jersey.
1923-25-100
New York
1925-27=100..
Pennsylvania
_
1923-25=100
Wisconsinf...
.
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
.725
.728
.726
.725
.725
.724
.721
.722
.721
.723
.732
.804
.803
.795
.787
.780
.785
.781
.778
.782
.787
.793
.796
.743
.745
.742
.744
.744
.743
.737
.740
.733
.731
.742
.749
.735
.787
.788
.792
.787
.782
.779
.778
.787
.794
.799
'.805
.804
.711
.577
.666
.715
.578
.667
.714
.586
.670
.710
.589
.673
.716
.583
.671
.715
.576
.672
.714
.576
.668
.715
.577
.674
.718
.573
.691
.720
.583
.690
.727
.590
.703
.726
.598
.701
.704
.649
.542
.720
.897
.924
.591
.705
.652
.544
.716
.900
.926
.591
.704
.648
.535
.707
.897
.928
.588
.708
.644
.534
.706
.894
.931
.592
.707
.647
.538
.711
.895
.933
.590
.715
.646
.531
.716
.886
.928
.587
.710
.646
.539
.714
.888
.935
.585
.714
.647
.540
.718
.895
.934
.583
.757
.654
.551
.730
.891
.922
.590
.753
.657
.556
.734
'.886
'.922
.599
.758
.660
.558
.737
'.901
'.940
.605
.752
.664
.553
.748
.894
.934
.607
.738
.780
.697
.970
.640
.632
.615
.684
.522
.496
.768
.611
.761
.953
.488
.461
.538
.473
.728
.780
.698
.973
.643
.629
.615
.689
.524
.500
.771
.614
.763
.957
.489
.459
.541
.474
.721
.777
.697
.973
.647
.627
.613
.694
.524
.501
.772
.612
.760
.947
.480
.458
.518
.474
.740
.776
.701
.970
.647
.631
.617
.689
.528
.504
.774
.616
.760
.944
.478
.460
.511
.472
.757
.777
.697
.972
.643
.622
.618
.691
.529
.505
.776
.618
.765
.947
.473
.459
.499
.474
.766
.783
.704
.985
.639
.613
.624
.687
.522
.498
.772
.616
.772
.956
.472
.460
.496
.476
.766
.785
.707
.975
.643
.596
.624
.688
.526
.502
.768
.618
.770
.956
.483
.460
.523
.472
.741
.781
.704
.969 •
.646
.585
.620
.686
.532
.508
.774
.620
.768
.959
.482
.461
.519
.475
.738
.789
.712
.974
.646
.608
.623
.685
.532
.508
.773
.629
.769
.961
.486
.464
.527
.474
r.751
'.792
.715
.972
.659
.625
.627
.684
.539
.514
'.774
.627
.768
.961
.493
.477
.525
.479
'.751
'.796
.714
.972
.665
'.633
.633
.678
.537
.511
'.783
. 631
.776
.974
.497
.479
.533
.489
.756
.800
.718
.974
.676
.641
.635
.677
.534
.508
.784
.635
.776
.965
.499
.481
.533
.496
92.1
95.8
95.9
116.4
95.4
105.4
105.7
88.3
92.0
95.3
110.8
93.7
100.3
103.6
89.6
93.9
95.4
112.8
95.9
101.2
103.7
89.8
92.5
93.4
110.7
93.1
96.9
101.9
88.9
92.8
93.5
111.8
92.6
97.5
102.2
91.4
93.4
94.9
113.0
93.8
101.0
102.7
88. 2
92.3
95.8
112.1
94.0
97.3
97.2
82.4
94.6
95.6
113.3
95.4
103.0
101.7
83.9
94.5
96.7
113.5
94.1
101.5
99.1
90.3
98.2
96.6
119.7
96.4
111.1
107.6
91.5
96.3
98.0
119.5
96.1
110.8
107.9
93.3
97.9
100.0
120.0
97.7
111.9
107.6
90.7
95.7
98.9
117.2
96.1
107. 8
104.0
.685
1.47
.680
1.43
.680
1.44
.683
1.44
.682
1.44
.684
1.44
.684
1.44
.685
1.44
.685
1.44
.685
1.44
.685
1.46
.685
1.46
.750
.726
.732
.720
.719
.724
.714
.731
.729
.739
.743
.742
.35
.60
.28
.56
.51
.48
.67
.27
.41
.38
.35
.60
.27
.57
.54
.50
.65
.27
.40
.37
.39
.62
.30
.54
.55
.57
.67
.28
.42
.37
.40
.60
.28
.51
.55
.52
.63
.28
.45
.37
.41
.63
.29
.51
.56
.49
.65
.28
.45
.37
.43
.60
.29
.52
.56
.49
.65
.29
.47
.35
.43
.61
.30
.51
.57
.47
.64
.30
.46
.37
.43
.60
.30
.53
.58
.45
.64
.30
.46
.37
.43
.59
.31
.51
.57
.48
,64
.30
.47
.38
.44
.59
.32
.53
.56
.49
'.66
.32
.46
.38
.42
.63
.35
.56
.56
.48
.66
.32
.44
.38
.41
.59
.31
.57
.55
.50
.71
.32
.52
.39
310
318
309
308
305
279
r277
258
••269
272
273
270
46
45
46
47
46
41
46
39
47
37
48
36
48
38
48
39
48
39
48
38
49
39
51
42
2
2
2
2
1
1
1
1
1
1
2
2
35 42
.43
.62
.33
.62
.59
.50
.72
.32
.50
.39
36.13
36.26
r
.685
1.47
35.27
ALL PUBLIC RELIEF
Total, exclusive of cost of administration, material, etc.f
mil. of dol._
Obligations incurred for: •
Special types of public assistance
do
General relief- . . .
_ _
do
Subsistence payments certified by the Farm
Security Administration
mil. of doL.
Earnings of persons employed on Federal
work programs:
Civilian Conservation Corps mil of dol
Work Projects Administration:
Operated bv W. P. A.t
do
Operated by other Federal agenciesf
mil of dol
National Youth Administration:
Student aid
do
Work pro}ectsf
do
Other Federal work and construction
projectsf
mil. of dol
21
18
20
20
19
19
19
17
19
19
18
19
150
158
146
141
133
120
108
89
98
102
108
106
'4
4
4
4
4
2
4
3
5
3
5
3
6
53
51
47
37
4
5
6
7
7
3
2
4
2
4
2
4
2
4
2
4
0
3
34
35
40
46
54
51
3
(°)
4
54
(°)
56
' Revised.
« Less than $500,000.
§Construction wage rates as of Mar. 1, 1940; common labor $0,685, skilled labor $1.47.
be obtained from the most recent Social Security Bulletin together with the issue for February 1940. 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. Wisconsin weekly earnings revised beginning January 1929; data not shown in the December 1939 Survey will appear in a subsequent issue.
30
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
1940
February
April 1940
1940
1939
February
March
April
May
June
July
Sep- October Novem- Decem- JanuAugust tember
ber
ary
ber
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
_
do
Own bills
do ...
Purchased bills
do
Held by others .
do
Commercial paper outstanding
do .
Agricultural loans outstanding of agencies supervised by the Farm Credit Adm.:
Grand total
mil. of dol
Farm mortgage loans, total
do
Federal land banks
.
do.__
Land Bank Commissioner
do
Loans to cooperatives, total*
do
Banks for cooperatives inch Central
Bank .
. mil. ofdol__
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 cooperativescf
mil. of doL
Otherfinancinginstitutions
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 (141 cities) „
do__
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. of doL.
Excess reserves (estimated)
do
Federal Reserve notes in circulation..do
Reserve ratio
percent
Federal Reserve reporting member banks,
condition, Wednesday nearest end of month:
Deposits:
Demand, adjusted
mil. of dol
Time
do
Domestic interbank.
__. __do. .
Investments, totals
do
U. S. Government direct obligations-do
Obligations fully guaranteed by U. S.
Government
mil. of dol
Other securities^
. .
do
Loans, total t
do
Commercial, industrial, and agricultural
loansf
mil. of dol
Open market paper
do
To brokers and dealers in securities
do _
Other loans for purchasing or carrying securities
mil of dol
Real estate loans
do
Loans to banks _.. _ _ _
do
Other loans!
_ _ do _.
Money and interest rates:
Bank rates to customers:f
In New York City
percent-.._
In seven other northern and eastern cities
233
248
245
238
247
245
236
235
216
221
223
233
229
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
188
198
192
191
188
123
65
45
191
189
117
74
54
118
72
49
124
68
55
122
69
53
119
69
48
177
115
62
39
179
111
67
42
172
175
122
76
50
191
128
63
44
226
195
191
192
189
181
194
201
209
205
214
210
179
111
68
50
219
3,046
2,580
1,897
3,178
2,710
1,969
3,173
2,694
1,960
3,172
2,683
1,955
3,166
2,671
1,948
3,158
2,658
1,941
3,148
2,647
1,934
3,134
2,637
1,928
3,109
2,626
1,923
3,085
2,616
1,916
3,067
2,605
1,910
3,057
2,596
1, 905
3,045
2,588
1,900
94
98
91
86
84
83
85
84
88
93
95
99
72
74
66
61
60
60
62
61
65
70
73
76
73
20
372
24
370
23
389
23
403
23
411
23
417
22
417
22
414
22
395
22
376
21
366
21
363
20
362
165
35
160
8
117
52
167
34
155
11
116
54
175
35
168
10
121
54
183
36
178
10
125
54
187
38
183
10
125
54
190
40
188
10
125
54
189
41
188
10
125
54
188
42
185
10
124
54
180
38
174
9
121
54
170
34
163
8
118
53
165
33
157
8
116
53
165
33
154
8
115
53
162
34
154
8
115
52
684
Treasury notes, 3-5 years (yield). ._.do
734
728
723
718
713
708
704
699
695
105
70
57
691
687
95
62
29, 482
12,138
17,344
85
27, 581
12, 380
15, 201
83
34, 486
16, 274
18, 211
82
30,143
13,311
16, 832
80
31,928
14,165
17, 763
79
33, 988
15, 312
18, 676
77
30, 477
12, 794
17, 683
76
30, 613
13,118
17, 496
75
33, 664
15,138
18, 526
73
32, 711
13, 683
19, 029
70
31, 676
13, 041
18, 636
66
40,019
17,633
22, 386
63
34, 717
14, 739
19,978
19,497
15,862
16,186
16, 766
16, 922
17,172
17, 348
17, 823
18, 602
18, 779
18, 740
2,598
1
2,587
1
2,595
1
2,573
1
2,579
1
2,486
1
2,446
1
2,879
1
2,801
0
2,650
0
19,027
2,593
0
19, 223
2,547
0
7
4
4
3
4
5
5
5
6
6
8
7
7
2,477
16,181
15, 813
19, 497
13,630
12, 328
5,692
4.872
87.5
2,564
12, 561
12,125
15, 862
10, 571
2,564
12, 951
12, 553
16,186
10,919
2,571
13, 476
13,103
16, 766
11, 376
2,564
13, 673
13, 326
16, 922
11, 535
2,551
13,874
13, 524
17,172
11, 701
2,426
14, 661
14, 321
17, 823
12, 247
9,157
3,559
4,380
84.7
9,900
4,098
4,458
85.1
10, 029
4,218
4,477
85.4
10, 018
4,140
4,511
85.6
10, 918
4,758
4,631
86.9
2,804
15, 013
14, 679
18,602
12,953
11, 655
5,352
4,720
85.0
2,736
15,178
14,838
18, 779
12, 988
11,973
5,553
4,773
85.5
2,552
15, 295
14, 976
18, 740
12,865
8,936
3,387
4,353
84.2
2,488
14, 230
13, 878
17, 348
11, 952
10, 507
4,553
4, 530
86.3
11,628
5,160
4,862
86.3
2,484
15, 524
15, 209
19,027
12,941
11,653
5,209
4,959
86.7
2,477
15, 975
15, 561
19,223
13,422
12,150
r 5, 559
4,832
87.5
19, 414
5,290
8,085
14, 740
8,851
15,965
5,202
6,414
13, 408
8,143
15,991
5,217
6,466
13, 388
8,096
16, 660
5,248
6,627
13, 714
8,341
16,965
5,235
6,675
13, 554
8,237
17, 462
5,243
7,012
14, 078
8,515
18, 096
5,247
7,167
14, 233
8,565
18, 333
5,231
7,667
14, 069
8,437
18, 556
5,249
7,954
14, 207
8,684
18,972
5,232
7,894
14, 503
8,713
18, 566
5,276
8,190
14,413
8, 703
19,199
5, 257
8,029
14, 675
8,877
2,421
3,468
8,528
2,019
3,246
8,186
2,026
3,266
8,191
4,324
3,773
3,814
2,026
3,347
8,071
3,841
2,055
3,262
8,126
3,822
17, 220
5,237
6,747
13, 862
8,423
2,148
3,291
8,089
3,833
2,241
3,322
8,166
3,887
2,286
3,382
8,209
3,996
2,232
3,400
8,350
4,229
2,232
3,291
8,521
4,310
2,408
3,382
8,656
4,381
2,412
3,298
8,674
4,353
2,414
3,384
8,499
4,295
332
609
313
799
305
764
302
648
308
721
303
648
313
655
317
608
316
533
317
603
312
660
315
700
321
614
2,503
0
478
523
531
539
539
543
526
519
510
512
499
504
485
1,185
1,136
1,140
1,148
1,156
1,161
1,168
1,174
1,180
1,184
1,189
1,188
1,183
1,548
1,550
1,543
1,533
1,521
1,550
1,543
1,546
1,547
1,559
1,579
1,564
1,547
52
In eleven southern and western cities
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. C:
Acceptances, prime, bankers
_ do __
Call loans, renewal (N. Y. S. E.)
do
Commercial paper, prime (4-6 months)
percent..
Time loans, 90 days (N. Y. S. E.)__. do
Treasury bills, 91 days (vield)
do
741
103
69
51
0
92
94
60
59
51
74
49
35
36
36
50
1.70
2.13
2 15
2.04
1.96
2 69
3 05
3.05
2.78
2.59
3.62
54
3.32
3.31
3 26
3 77
2.86
4.83
1.00
4.00
1.50
3.00
5.05
1.00
4.00
1.92
2.99
4.89
1.00
4.00
1.50
3.02
5.15
1.00
4.00
1.50
2.97
5.07
1.00
4.00
1.50
2.92
4.91
1.00
4.00
1.50
2.89
4.84
1.00
4.00
1.50
2.93
4.85
1.00
4.00
1.50
3.25
5.00
1.00
4.00
1.50
3.15
4.88
1.00
4.00
1.50
3.00
4.85
1.00
4.00
1.50
2.94
4.92
1.00
4.00
1.50
2.88
4.86
1.00
4.00
1.50
Me
1.00
Me
1.00
Me
1.00
1.00
1.00
Me
1.00
Me
1.00
Me
1.00
Me
1.00
Me
1.00
Me
1.00
Me
1.00
1.00
lit
VA
.05
.64
.04
.51
m
VA
.02
.46
VA
.03
.63
H-H
VA
.03
.51
VA
.03
.50
7
VA
' VA
.03
.42
.03
.39
tt-%
VA
.04
.45
lU
.05
.48
lit
n-u
.14
VA
.05
1.07
.77
.01
.47
1
d"To avoid duplication, these loans are excluded from the totals.
Less than $500,000.
fRevised series.' For data beginning 1928 see table 16, page 17 of the March 1940 issue. Quarterlyfiguresbeginning March 1939 are not strictly comparable with earlier
data.
•Includes a small amount of Federal intermediate credit bank loans (direct) not shown separately.
ISee note marked with a "T' on p. 30 of the July 1939 issue.
April 1940
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
31
SUEVEY OF CURRENT BUSINESS
February
1940
1939
1940
February
March
April
May
June
July
Decem- JanuSepOctober Noven>
August tember
ary
ber
ber
FINANCE—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_..
COMMERCIAL FAILURES!
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
LIFE INSURANCE
5,632
5,431
5,478
5,463
5,471
5,514
5, 519
5,529
5,557
5,552
5,547
5,599
5,616
1,297
50
1,263
81
1,266
80
1,264
76
1,262
73
1,262
68
1,268
58
1,271
56
1,267
55
1,271
54
1,275
54
1,279
54
1,290
51
1,042
48
66
204
7
56
17
4
6
13
11
19
6
38
1
26
622
102
13,472
575
1,655
4,939
290
1,167
427
249
30
247
548
856
112
453
214
346
4,440
1,863
1,202
42
47
234
12
48
24
6
11
13
11
22
4
48
1
34
770
109
13, 582
331
973
5,258
125
1, 513
247
306
263
137
255
553
112
1,207
1
539
5,626
1,394
1,322
64
56
267
8
56
26
3
14
11
17
18
8
72
4
30
792
143
19, 002
1,152
1,232
8,264
56
3,302
771
755
315
115
344
194
155
1,767
145
345
6,081
2,273
1,331
57
52
272
7
70
19
12
14
10
20
24
2
53
2
39
790
160
18, 579
553
746
8, 647
106
1,475
346
1,171
388
1,841
586
737
14
1,131
388
464
6,086
2,547
1,334
48
71
263
7
68
25
1
14
7
10
14
9
79
6
23
800
152
15, 897
895
1,194
5,207
113
1,909
547
100
339
49
286
436
218
916
53
241
6,553
2,048
1,119
66
52
209
9
45
13
5
14
12
11
15
6
45
4
30
687
105
12, 581
541
1,159
4,789
112
1,079
222
341
315
204
372
236
85
1,203
45
575
4,397
1,695
1,153
28
40
242
3
58
16
6
8
7
lfi
24
8
57
1
38
729
114
14,999
343
382
6,907
32
2,398
217
1,017
62
224
787
291
277
1,196
58
348
5,219
2,148
1,126
51
52
210
7
50
20
1
9
13
8
17
3
52
2
28
696
117
12, 637
530
790
4, 453
60
1,709
538
40
345
323
71
296
20
684
21
346
5,175
1,689
1,043
48
51
187
9
44
20
4
4
7
11
16
7
37
4
24
652
105
10, 545
522
945
3, 466
138
611
442
816
28
46
216
99
105
435
95
435
4,443
1,169
1,234
43
55
235
14
46
18
3
10
12
12
28
9
44
4
35
772
129
17, 464
790
1,129
6,959
135
1,500
1,411
111
274
327
1,455
484
172
579
134
377
5,378
3,208
1,184
49
50
263
11
64
16
4
9
13
9
29
10
53
4
41
697
125
13, 201
587
765
4,606
132
1,286
168
72
321
96
220
185
227
565
129
1,205
5,156
2,087
1,153
57
59
239
9
37
16
6
16
4
14
24
7
63
3
40
690
108
13, 243
760
1,094
5,129
78
1,481
167
304
162
26
859
310
279
969
168
326
4,940
1,320
1,237
44
69
223
8
52
17
1
11
11
8
14
5
56
4
36
789
112
15, 279
614
1,509
4,942
76
2,142
208
5
105
204
40
335
75
595
157
1, 000
5,617
2,597
Assets, admitted, total:t
mil. of doL 24,130
4,543
Mortgage loans, total
do
659
Farm
do _
Other
do
3,884
Real estate holdings
do
1,720
2,496
Policy loans and premium notes
do
Bonds and stocks held (book value) total
13,986
mil. of doL
6,373
Government (domestic and foreign).. do
Public utility
do
3,464
2,655
Railroad
__ _ __do_
Other
do
1,494
Cash
do__921
464
Other admitted assets
do
Insurance written:©
Policies and certificates, total number
697
thousands.
25
Group
do
439
Industrial
do
232
Ordinary
do
Value, total
thous. of doL 561, 638
Group
do
38,120
Industrial
do
125, 226
Ordinary
do
398,292
Premium collections, total
do
263,077
Annuities
do
25, 562
Group
do
12,451
Industrial
do
56,154
168,910
Ordinary
do
22, 929
4,403
669
3,734
1,740
2,621
23,018
4,410
667
3,743
1,738
2,611
23,100
4,416
667
3,749
1,743
2,605
23,199
4,424
666
3,758
1,746
2,598
23, 275
4,435
664
3,771
1,745
2,585
23, 398
4,442
659
3,783
1,747
2,573
23, 489
4,460
663
3,797
1,750
2,564
23, 608
4,472
662
3,810
1,751
2,557
23, 711
4,486
662
3,824
1,753
2,547
23, 815
4,499
662
3,837
1,754
2,534
23,917
4,528
660
3,868
1,720
2,520
24,042
4,533
658
3,875
1,722
2,507
12, 950
5,895
2,974
2,657
1,424
759
456
12, 999
5,903
2,995
2,671
1,430
810
450
13, 065
5,952
3,003
2,675
1,435
827
444
13,127
5,977
3,007
2,684
1,459
858
446
13, 358
6,057
3,139
2,699
1,463
727
425
13, 428
6,079
3,163
2,702
1,484
780
428
13, 485
6,123
3,202
2,705
1,455
809
421
13, 553
6,110
3,259
2,697
1,487
837
438
13, 687
6,097
3,401
2,697
1,492
800
438
13, 714
6,181
3,382
2,684
1,467
823
491
13,906
6,353
3,428
2,642
1,483
763
480
13,928
6,370
3,449
2,644
1,465
890
462
675
23
399
252
491
365
871
255
374
491
667
981
235
842
33
499
310
019
205
396
418
539
817
019
960
743
716
20
464
232
666
981
051
634
414
838
450
263
863
812
33
496
283
445
278
073
094
965
809
302
846
008
841
134
461
245
729, 749
194, 223
128, 568
406, 958
268, 472
25, 496
11, 528
61, 255
170,193
687
26
427
234
380
862
218
300
077
712
497
554
314
942
261
431
250
595
901
068
626
706
472
292
271
671
642
24
417
200
509, 897
59, 401
115, 935
334, 561
234, 418
18, 248
11, 320
59,970
144, 880
790
51
484
255
675
929
769
977
492
879
781
055
777
724
728
41
59
443
455
225
228
587, 498 r 646,550
44, 027 105,030
128,121 124, 662
415, 350 r 416,858
247, 397 355, 983
23, 412
50,082
10, 854
13, 270
52, 800 106. 662
160, 331 185, 969
659
32
400
226
653,156
134, 507
113,111
405, 538
286, 934
42,185
15,848
63, 512
165, 389
(Association of Life Insurance Presidents)
570,
40,
109,
420,
250,
22,
11,
56,
159,
645,
45,
138,
461,
287,
25,
13,
62,
185,
550,
35,
129,
385,
243,
19,
10,
61,
151.
604,
43,
137,
424,
257,
22,
11,
59,
164,
506,
23,
118,
364,
248,
27,
10,
55,
154,
584,
83,
119,
381,
244,
23,
11,
54,
155,
637,
75,
135,
425,
238,
20,
10,
57,
149,
(Life Insurance Sales Research Bureau) f
Insurance written, ordinary, totaL thous. of dol__ 506, 212 532,032 577, 203 495, 650 532, 089 524, 925 462, 423 479, 794 442, 597 543, 991 537, 951 567, 212 517,622
39.633
43, 632
44,852
34, 364
41, 323
37, 658
40, 608
41, 314
36, 030
33,493
43,136
41, 938
39, 378
New England
do
144, 717 140, 911 159, 747 140,175 148, 804 142, 293 124, 598 123, 012 118, 743 152, 548 150, 742 148, 888 151, 309
Middle Atlantic
.do
120, 473 122, 242 130, 647 109, 638 117,143 116, 689 102, 981 107, 019
95, 351 122,888 122, 522 126, 840 121, 339
East North Central
do
47, 560
West North Central
do
46,661
54,148
55, 913
49, 272
53, 372
53, 078
48, 575
51, 080
45, 611
54, 339
54, 246
59, 043
48, 294
47,164
48,038
53, 050
45, 771
50,104
51,134
42, 233
48, 480
52, 598
56,672
43, 595
51,003
South Atlantic
do
17,829
17,657
20, 386
22, 845
19, 070
21, 059
21,811
18, 277
19, 729
19, 741
19,413
20,133
24, 223
East South Central
do
38, 470
36,141
42, 233
42, 221
45,996
45, 997
38, 401
40, 791
38, 831
40, 088
37, 658
36, 567
40, 588
West South Central
do
12, 496
12, 761
13, 677
15, 848
13, 663
14, 406
14, 935
13, 659
14, 842
12, 756
14, 743
14,043
17, 347
Mountain
do
39.002
41. 005
42, 002
48, 304
44, 372
38,412
46, 765
42, 880
42,437
44, 238
48,825
Pacific
do
36,740
42, 736
91
93
Lapse rates
1925-26=100..
T
Revised.
tRevised series. Data for insurance written, ordinary (Life Insurance Sales Research Bureau) revised for the period 1936-38 to include a small amount of intermediate
insurance omitted from the original compilation; revised data not shown on p. 31 of the November 1939 Survey will appear in a subsequent issue. Data beginning 1939 for
commercial failures are now presented on a new basis and cannot be used in conjunction with the former series. The new series shown above include voluntary discontinuances with loss to creditors, and small concerns forced out of business with insufficient assets to cover all claims, in addition to failures included in the former series. For the
year 1939 the number of failures was 14,768 with liabilities of $182,520,000, on the new basis; on the old basis, the number was 11,408 and the amount $168,204,000.
J37 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 States legal reserve companies.
32
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey
ary
April 1940
1939
February
March
April
May
June
July
1940
DecemAugust SeptemOctober November
ber
ber
January
FINANCE—Continued
MONETARY STATISTICS
Foreign exchange rates:
0.298
Argentina
dol. per paper peso.169
Belgium
dol. per belga__
.061
Brazil, official
dol. per milreis..
.302
British India
dol. per rupee..
.867
Canada
dol. per Canadian dol...
.052
Chile
dol. per peso...
.022
France
dol. per franc...
.401
Germany
dol. per reichsmark...
.050
Italy..dol. per lira...
.234
Japan
dol. per yen..
.531
Netherlands
dol. per guilder...
.100
Spain
dol. per peseta...
.238
Sweden
dol. per krona. _
3.963
United Kingdom
dol. per £_.
.658
"Uruguay
dol. per peso,.
Gold:
Monetary stock, U. S
mil. of dol__ 18, 061
Movement, foreign:
Net release from earmarkl__ .thous. of doL. 36,954
53
Exports
do
197, 482
Imports
do
Production:
Union of South Africa, total__.fine ounces. .
Witwatersrand (Rand)
do
179, 559
Receipts at mint, domestic (unrefined).do
7,426
Currency in circulation, total
mil. of dol__
Silver:
298
Exports§
thous. of doL.
4,070
Imports
do
.348
Price at New York
dol. perfineoz__
Production, world
thous. offineoz._
Canada
do
Mexico.
do
United States
do
Stocks, refinery, end of month:
United States
do
Canada
do
0.312
.169
.059
.350
.995
.052
.026
.401
.053
.273
.536
(l)
.241
4.686
.616
14,778
-48,553
15
223, 296
910,084
195, 780
6,697
2,054
9,927
.428
21, 822
1,454
6,794
5,268
4,806
652
CORPORATION PROFITS
(Quarterly)
Federal Reserve Bank of New York:
Industrial corporations, total (168 cos.)t
mil. of dol._
Autos, parts, and accessories (28 cos.).do
Chemicals (13 cos.)t
do
Food and beverages (19 cos.)
do
Machinery and machine manufacturing
(17 cos.)
mil. of dol—
Metals and mining (13 cos.)
do
Petroleum (13 cos.)
do
Steel (11 cos.)
do
Miscellaneous (55 cos.)
do
Telephones (net op. income) (91 cos.)_ .do
Other public utilities (net income) (52 cos.)
mil. of dol._
Interstate Commerce Commission:
Railways, class I (net income)
do
Standard Statistics Co., Inc. (earnings):
Combined index, unadjusted •t---1926=100_.
Industrials (119 cos.)
do
Railroads (class 1) • f
do
Utilities (13 cos.)
do
Combined index, adjusted « t
do
Industrials (119 cos.)
do
Railroads (class l ) » f
do
Utilities (13 cos.)
do....
0.312
.170
.061
.349
.996
.052
.026
.401
.053
.273
.536
.110
.241
4.681
.616
0.312
.170
.061
.349
.998
.052
.026
.401
.053
.273
.532
.110
.241
4.682
.616
0.312
.170
.061
.349
.998
.052
.026
.401
.053
.273
.533
.110
.241
4.681
.616
0.311
.170
.061
.344
.995
.052
.026
.399
.053
.269
.535
.110
.240
4.611
.607
()
0.170
.061
.299
.913
.052
.023
.399
.051
.235
.532
.105
.238
3.995
0.298
.167
.061
.303
.893
.052
.023
.401
.050
.235
.531
.101
.238
4.011
15, 878
16, 028
16,182
16, 390
16, 823
17, 002
•114, 842 •251, 579
10, 720
231
36
53 606, 027 429, 440
365, 436 1,017,508 1,084,859
1,073,084 938,961 1,000,181
989, 974 227, 642 219,161
209, 778
6,867
6,919
6,764
1,923
611
2,054
7,207
6,152
7,143
.428
.428
.428
20, 070 17, 469 18,197
1,637
1,411
1,559
4,906
2,515
4,586
5,067
5,336
3,701
•102, 596
19
240, 450
-166, 212
9
278, 645
152,125
13
259,934
2,836
15
326, 089
79, 516
15
69, 740
0.312
.168
.059
.351
.996
.052
.026
.401
.053
.273
.531
0)
.241
4.685
.617
15, 014
7,432
615
0.312
.168
.060
.350
.995
.052
.026
.401
.053
.273
.531
0)
.241
4.681
.616
15,509
8,669
255
9,903
167
()
0.298
.165
.061
.301
.878
.052
.022
.401
.050
.234
.531
.100
.238
3.925
.658
0.298
.166
.061
.300
.876
.052
.022
.401
.050
.234
.531
.100
.238
3.930
.658
0.298
.168
.061
.301
.880
.052
.022
.401
.050
.234
.532
.100
.238
3.964
.658
17, 217
17, 518
17,804
90, 873 -200,811
10
11
167, 991 451,183
40,034
22
236,413
1,058,989 1,084,334 1,099,816 1,080,474 1,098,842 1,102,862 1,100,958
977, 752 998,800 1,015,643 997, 012 1,014,593 1,013,649 1,010,693
201, 111 281, 317 282,130 362, 866 421, 796 274,843 241,879
7,051
7,249
7,098
7,328
7, 413
7,609
257,116
7,433
303
14, 770
.420
26,122
1,766
10, 274
5,493
640
5,531
.349
21,878
2,099
8,004
3,200
937
4,365
.360
22, 522
2,703
6,971
4,226
1,292
4,639
.370
23, 634
2,679
6,857
5,145
1,773
7,268
.357
24, 426
2,913
7,931
4,874
487
4,183
.348
22,193
1,898
6. 539
5,113
887
3,795
.350
22,491
1,920
6,210
5,716
"4,852
4,935
316
6,348
250
4,180
5,461
530
3,589
715
4,638
756
3,533
736
2,469
513
146.9
.5
24.2
15.1
158.1
64.1
26.4
20.3
6.2
2.1
5.6
6.2
17.3
56.4
5.4
2.7
7.6
7.4
24.2
60.4
22.1
*28. 6
60.1
54.5
51.3
48.6
M3.6
'48.2
57.7
126.1
60.4
65.0
62.0
69.8
<*28. 5
114.9
57.0
62.1
<*26.9
118.1
63.5
34.2
116.7
p 113.8
p 118.0
P74.2
P134.9
124.7
62.4
68.7
<*19.8
113.4
P
452
5,799
.348
1,483
140. 6
P13.0
32.5
*>22.2
7.0
3.3
61.8
PUBLIC FINANCE (FEDERAL)
Debt, gross, end of mo
mil. of doL.
Public issues:
Interest bearing*
do
Noninterest bearing*
do
Special issues to gov't agencies and trust
funds*
mil. of doL.
Obligations fully
guaranteed by the U. S. Government: d71
Amount outstanding by agencies, total.
mil. of dol. .
Federal Farm Mortgage Corporation-do
Home Owners' Loan Corporation
do
Reconstruction Finance Corporation, do
Expenditures, total, including recovery and
relief!
thous. of dol
General (including recovery and relief)* Jdo
Revolving funds, net*
do
Transfers to trust accounts*
do
Debt retirements*
do.
Receipts, totalf
do
Customs
do.
Internal revenue
do.
Income taxes
do_
Social security taxes*
do_
39, 864
39,990
40, 068
40, 286
40,445
40,666
40,896
40, 861
41, 040
41, 310 ' 41, 961
42,110
37,484
526
35,949
533
35,994
543
36,038
538
36,089
531
36,122
554
36,200
548
36, 261
540
36, 282
516
36, 421
510
36, 517
499
37, 346
509
4,356
3,382
3,454
3,492
3,666
3,770
3,918
4,094
4,063
5,674
1,269
2,784
1,096
5,410
1,381
2,888
819
5,410
1,381
2,888
819
5,410
1,380
2,888
819
5,409
1 379
5,450
1,379
2,928
820
5,480
1,379
2,958
820
5,583
1,379
2,858
5,455
1,279
2,830
668,376
654,170
3,812
10,000
394
443,830
25, 651
385,012
70, 309
147, 282
662, 464
601,971
10, 365
50, 000
127
417, 349
22, 361
333, 518
56, 872
125,870
42, 365
820
5,448
1,279
2,823
820
' 37, 234
'496
4,295
4,231
4,256
5,707
1,269
2,817
1,096
5,703
1,269
2,813
1,096
5,699
1,269
2,809
1,096
822,049 793, 302 764, 458 691, 006 889,329 712,994
745, 269 728,837 701, 893 632, 573 822, 858 713,225
-543
5,066
5,264
10, 679
8,785
3,979
58,000
50,150 53, 000 53, 000
-5,000
66,100
367
9,013
0
9,051
779
790
419,980 718, 790 321, 511 406,967 569,136 314, 549
27,814
27, 213
35, 595 32, 418 29, 049
35, 788
397, 421 624, 254 292, 241 339,615 498,993 306, 304
31, 777 329, 093
35, 482 33, 721 316, 280
45, 634
97,447
12, 308 68, 578 113,177
11,110
89, 645
d
Deficit.
' Revised.
p Preliminary.
\ Or increase ID earmarked gold (—).
• Number of companies included varies slightly.
1
Quotations not available J a n u a r y 25-May 14, 1939. 2 Quotations not available August 26-October 16, 1939. 3 Previously published figures based on incorrect quotations; quotations not available September 1 through November 28, 1939. 4 Indexes are in t h e process of revision.
* New series. New items for Federal gross debt beginning June 1916 appear in table 21, p. 16, and for Federal expenditures beginning July 1931 in table 22, p . 17, of t h e
April 1939 Survey. D a t a on receipts from social security taxes beginning June 1936 will appear in a subsequent issue.
t Revised series. T h e Standard Statistics Co. index of railroad earnings and the combined index have been revised beginning 1932; see table 25, p . 18, of t h e April 1939
Survey. Total Federal expenditures and receipts revised beginning July 1931; see tables 22 and 23, p . 17, of the April 1939 Survey. For revised data beginning 1928 for t h e
Federal Reserve Bank of New York corporation profits, industrial total and chemicals, see table 9, p . 12 of the March 1940 issue.
§ Revised series. D a t a revised for 1937; see table 19, p . 14 of the April 1939 Survey.
cf Included in t h e total b u t n o t shown separately are guaranteed debentures of certain other Federal agencies.
^ ' G e n e r a l " and "recovery and relief" not reported separately in Daily Treasury Statement since June 1939.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
879, 300
796,139
5,599
68, 000
9, 562
737, 391
29, 266
691, 401
495,906
3,855
786, 517 744,5
722, 342
7,992
7,451
55,000
50, 094
1,182
530
268,343 396, 781
29, 437 25,318
279,987 315,037
38, 832 43, 533
69, 684 93,044
972, 569 807, 325
639,232
856
8,474
56,004 167,103
21, 235
134
612, 522 307, 846
24, 517 25, 528
568, 646 300,091
351,958
43, 230
16, 252 72, 754
33
SURVEY OF CURRENT BUSINESS
April 1940
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey
ary
Febru-
March
April
May
June
1939
1940
July
Novem- Decem- | Januber j ary
ber
Octob
August
FINANCE—Continued
PUBLIC FINANCE (FEDERAL)—Con.
Receipts, total—Continued.
Internal revenue—Continued.
Taxes from:
Admissions to theaters, etcthous. of dol_.
1,853
1,852
1,487
1,728
1,975
1,534
2,118
1,503
1,385
1,513
1,607
1,491
1,043
1,087
Capital stock transfers, etc
do
813
1,012
1,394
1,124
2,806
1,275
1,259
1,210
1,083
1,273
735
Sales of radio sets, etc
do
633
292
402
744
678
404
578
287
467
353
279
258
Government corporations and credit agencies:!
Assets, other than interagency, total
12,062 12,064
mil. of doL.
12,063
11,967
12,105
11,650
11,696
11,706
11,823
12,017
11,688
11, 703
Loans and preferred stock, total
do
8,951
8,920
8,956
8,936
8,900
8,923
8,509
8,523
8,497
8,465
8,861
8,511
Loans to financial institutions (incl. pre1,232
ferred stock)
mil. of dol._
1,292
1,272
1,272
1,247
1,260
1,273
1,291
1,299
1,278
1,297
1,311
500
504
Loans to railroads
do
492
492
497
509
493
489
508
505
501
493
2,365 2,376
2,332
2,358
Home and housing mortgage loans .do
2,363
2,324
2,323
2,337
2,347
2,327
2,325
2,331
Farm mortgage and other agricultural
3,721
loans
mil. of dol_.
3,726 3,709
3,744
3,738
3,459
3,731
3,765
3,460
3,456
3,438
3,447
1,112
1,100
All other
do.-.
892
1,068
1,093
1,100
923
913
1,007
960
941
ir~
U. S. obligations direct and fully guaran
874
900
879
teed
mil. of dol.
874
876
879
849
871
885
850
853
549
542
543
553
Business property
do...
465
535
472
483
531
468
476
481
678
661
652
Property held for sale
do...
708
695
689
712
712
709
704
713
708
1,033
1,013
1,038
All other assets
do...
1,095
934
1,039
900
1,008
1,108
1,157
1,151
1,199
8,064
Liabilities, other than interagency, totaLdo.. .
7,588
7,845
8,048 8,059
7,507
7,592
7,!""
7,592
7,651
7,7
7,581
Bonds, notes, and debentures:
5,708
5,704 5,700
5,356
Guaranteed by the U. S
do...
5,291
5,489
5,449
5,410
5,410
5,410
5,471
5,410
1,352
1,340
1,348
Other
do...
1,349
1,345
1,357
1,357
1,374
1,379
1,389
1,004
1,019
Other liabilities including reserves do...
1,052
1,054
1,039
995
867
803
791
'790
395
397
397
Privately owned interests
do
390
393
391
387
387
Proprietary interests of the U. S. Government
3,602
mil. of doL.
3,866
3,617 3,607
3,709
3,732
3,739
3,718
3,668
3,678
Reconstruction Finance Corporation, loans outstanding, end of month:f
Grand total
thous. of doL. 1, 767, 262 1,764,888 1, 769,810 1,718, 501 1, 723,167 1, 747,482 1, 766, 222 1, 768,904 1, 783,404 1, 787, 4341, 762,0941, 756, 354 1,742,729
AQ7 One; 70'^,038
fV}ft
Section 5 as amended, total
do
706,458 664,117 673,385 682, 524 676,434 677,933 677,463 677,408 677,916 679, 064 689, 603 697,
Banks and trust companies, including
94, 872 116,121 112,926 110,657 108, 220 104, 387 103, 405 102,121 101,187 102,126 100, 773 100,007 96,477
receivers
thous. of doL.
3,647
3,342
3,506
3,375
Building and loan associations
do--_
3,433
3,262
1,921
3,321
3,405
3,487
2,942
1,
3,027
2,457
2,571
2, 506
2,478
2,615
Insurance companies
do - _ _
2,787
2,652
2,915
2,869
2,817
2,662
2,887
2,836
142, 876 101, 225 110,392 117,084 120, 745 124, 550 125, 573 126,842 127, 647 130,167 134, 432 138, 595 142,464
Mortgage loan companies
do...
458, 841 436,139 439, 560 443, 840 436, 612 439,199 438,863 438,837 438, 835 436, 650 444, 314 448, 792 454,194
Railroads, including receivers
do-_.
4,138
3,919
3,963
All other under Section 5
do--_
3,765
4,073
5,797
3,573
4,109
5,660
4,994
3,658
3,541
5,131
Emergency Relief and Construction Act,
43, 478 39,114 39,030
39,024 205, 598
total, as amended
thous. of doL.
62,801
62,152
197, 466 131, 349 134, 495
63, 682
61, 577 62, 209
Self-liquidating projects (including financ42, 679
42, 664 38, 258 38, 232
ing repairs)
'
thous. of doL.
38, 230 181,814
40,108
173,
682
108,
995
39,441
40,835 41, 586
107,
538
Financing of exports of agricultural sur47
47
pluses
thous. of dol..
105
19,371
63
23, 047
21, 290
23,047
24,737 23,480
19,989
23,047
19,871
Financing of agricultural commodities
747
751
and livestock
thous. of dol__
751
751
751
738
75:
754
737
764
760
752
764
Direct loans to business (including participations)
thous. of dol__ 131,919 110,43:
125, 753 126,862 130,026 130,625 130, 377
121,
364
111,
343
114,141
116,
639
122,859
112,162
Total Bank Conservation Act, as amended
thous. of doL. 554, 240 574, 791 572, 975 576, 969 577, 723 577,498 570, 654 566, 919 566, 534 564, 556 541, 423 539,936 535, 376
83,874
Drainage, levee, irrigation, etc.*
do.
83, 333
82, 63f
83, 433 83, 502 83, 482 83, 750 83, 998 83, 814
82,461
82, 950
83,048 83,042
251, 747 127, 489 132,008 132, 547 137,326 228, 688 251, 256 256, 708 267,490 270, 669 273,814 265, 476 251,094
Other loans
do^
CAPITAL FLOTATIONS
New Security Registrations
(Securities and Exchange
Commission)
New securities effectively registered under the
Securities Act of 1933, total
thous. of dol__ 247,002
1,088
Registered for account of others
do
245,914
Registered for account of issuers, total f..do
14, 601
N o t proposed for sale t
do- _
Proposed for sale:
Issuing and distributing expense:
Compensation to underwriters, etc.
5,547
thous. of dol._
1,454
Other
doN e t proceeds to be used for:
224, 312
Total
do
17,125
N e w money 1 f
do
Purchase of:
10,832
Securities for investment
do
0
Securities for affiliation
do.
0
Other assets
do
180, 630
R e p a y m e n t of bonds and notes, do
5,420
Repayment of other debt
do
Retirement of preferred stock.-do
Organization expense f
do
Miscellaneous t
do
'
30, 636 114,924
3,578
27,059 114,
1,916
13,550
21,676
971
20, 705
4,345
86,286
4, ' " "
81,423
19,143
307, 754
11,525
296, 229
60, 562
57,062
3,777
53, 285
22,05"
275,410
13, 549
261,861
8,950
232,712
1,999
230, 713
42, 631
298, 571
11,870
286,701
9,214
35,181
1,448
33,733
8,91r
1,190
210
2,767
627
4,679
l,44f
2,128
235
6,678
1,621
5,006
94 r
6,031
1,249
2,053
128
1,247
202
14, 961
7,891
58, 886
19,404
229, 546
72, 729
3,881
244, 611
31,""
182,134
21,846
270, 206
16,039
22, 635
3,570
12,060
6,492
2,416
0
13
3,303
1,331
0
1
6
1,965
500
3
36, 531
267
191
15
10
3,629
0
24
147,471
4,629
1,034
2
29
15, 278
46
92
8,641
561
239
0
126
11, 756
194
32
187,648
5,047
100
9
8,741
19,058
898
0
122,061
13,697
4,562
0
13
2,495
123
110
217,818
1,807
2,417
1
29, 396
11,914
148
1,586
4,789
609
0
0
19
158,470 145,182
1,300
3,640
154, 830 143,882
5,288 41, 507
3,414
1,190
4,027
701
107, 407 144,938
8,480
4,922
2,632 37, 518
0
200
379
0
190
0
235
53, 970 126,208
6,461
7,384
1, 223
3,391
3,214
43
15
4
2
97,646
17,133
4,092
654
2,370
25
ro
73, 531
4,558
0
2
27
«Less than $500.
' Revised.
•New series. Data for drainage, levee, irrigation, and similar districts beginning December 1933 will appear in a subsequent issue of the Survey; this series was formerly
included with "Other loans."
tRevised series. Details for assets of 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 other assets have been brought out. 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 beginning August 1934 not shown on p. 33 of the January 1940 Survey will appear in a subsequent issue. For indicated items
on new securities effectively registered, revised data not shown in the March 1940 Survey will appear in a subsequent issue.
f Includes plant and equipment, working capital, reimbursement of corporate treasuries for capital expenditures and "other" new money purposes.
34
SUEVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey
ary
April 1940
1940
1939
February
March
April
August
September
55, 588 271, 720 227, 545 293, 650
26, 888
June
May
July
DecemOctober November
ber
January
FINANCE—Continued
CAPITAL FLOTATIONS-Con.
New Security Registrations—Con.
(Securities and Exchange Commission)
Estimated gross proceeds (total registration,
less securities reserved for conversion),
total
thous. of doL 240,277
Type of security:
Common stock
do _. _ 23, 309
17, 209
Preferred stock
do, - 536
Certificates of participation, etc
do_-_
Secured bonds
do.-_ 153, 522
45, 700
Debentures and short-term notes do_-_
Type of registrant:
2,375
Extractive industries
do__.
Manuf acturing industries
do. _ - 121,453
12, 282
Financial and investment
do.,_
18, 504
Transportation and communications..do.._
Electric light and power, gas and water
85,413
thous. of doL
250
Other
do.-_
21, 366
69, 242
277,
657
28, 461
113,994
153,367
8,076
8.710
143,
542
12,172
1,936
800
10, 380
1,600
11,317
2,200
1,000
13, 444
500
33, 443
3,391
12,645
46,815
17,700
125,681 i
10,900 |
24, 303
40. 679
0
47, 289
31, 270
2,747
33, 440
3,894
4,548
1,582
3,485
19, 444
380
1,523
8,818
2,927
1,750
0
9,929
40,776
7,823
6, 160
23, 517
224
1,401
323
20, 293
4.999
2,184
82, 914 217,149
1,992
31, 870
0
1,997
11,194
2,250
54, 955
511
119, 176
2,891
107, 300
2, 444
,313,005 585, 583 590, 429 460, 667 179,919 740,453
41, 669 336, 243
116,874 273, 350 318,016 112,031
116,874 264,100 318,016 82, 031 41, 669 336, 243
21, 740 30, 241 50, 139 25, 895 16, 019 18, 200
218,145
88, 687
88, 687
21, 408
329.
94!
94,
26,
279,
90,
90,
32,
9,645
2,707
3,875
5,139
0
12, 393
1,741
4,008
28, 488
22, 613
47, 438
27, 900
1,766
116,991
83, 562
18, 749
20, 473 29, 307 16.385
22, 200 12, 675 48, 305 11,628
3,406
10, 586 10, 759
0
9,449 144, 872 39, 675 163,101
0
74, 279 112,421 100,172
0
6,821
6,660
1,827
280
35, 763
4,758
0
342
146, 450
6,271
5,305
234
3,779
17, 024
250
5,090
969
27, 506
935
117,712
1,577
31, 605 124, 971
2,696
15, 500
12, 290
93, 097
21,941
3,921
702
88, 942
24,162
28, 834
0 I
Securities Issued
(Commercial and Financial Chronicle) t
Securities issued, by type of security, total (new
capital and refunding)
thous. of doL- 450, 801
103, 959
New capital, total
do
45, 404
Domestic, total
do
45, 404
Corporate, total
do
Bonds and notes:
32, 746
Long term
do
10, 000
Short term
do
1.590
Preferred stocks
do
1,069
Common stocks
do
Farm loan and other Government agencies
800
thous. of doL57, 755
Municipal, States, etc
do
0
Foreign, total
do
0
Corporate
do
0
Government
do
0
United States possessions
do
346,842
Refunding, total
do
210, 842
Domestic, total
do
210, 842
Corporate, total
do
Bonds and notes:
Long term
do . . . 196,370
0
Short term
do
14, 472
Preferred stocks
do
Common stocks
do
0
Farm loan and other Government
agencies
thous. of dol.~ 21, 695
114, 305
Municipal, States, etc
do
0
Foreign, total
do
0
Corporate
do
0
Government
do
0
United States possessions
do
Securities issued by type of corporate borrower,
total
thous. of doL- 256, 246
45, 404
New capital, total
do
Industrial
do
5, 249
Investment trusts, trading, and holding
1,000
companies, etc
thous. of doL_
450
Land, buildings, etc
-_do
7,015
Public utilities
do
900
Railroads
do
30, 730
Shipping and miscellaneous
do
210. 842
Refunding, total
do
115, 000
Industrial
do
Investment trusts, trading, and holding
0
companies, etc
thous. of doLLand, buildings, etc
do
575
Public utilities
do
89, 897
Railroads
do
0
5,370
Shipping and miscellaneous
do
341
974
974
979
358,117
144, 258
143, 808
78,160
16, 722
0
1,278
5, 571
42, 809
0
891
9,279
47, 533
0
1,020
29, 607
18, 428
0
2,220
1,092
21, 128
450
5,579
3,084
310, 090
43, 792
0
0
0
0
163,173
163,173
136,115
4, 325
104, 670
0
0
0
0
79, 367
76, 367
46, 689
1,950
63, 698
450
0
0
450
213, 860
161, 360
129, 249
1, 550
93, 584
0
0
0
0
,196,131
,180,381
151, 002
0
233, 859
9,250
0
9,250
0
312, 234
312,234
251, 798
101, 286
0
34, 829
0
46, 366
0
200
123
105,
17, 050
10, 008
0
0
0
0
15, 023
14, 655
3,000
0
3,000
0
159, 686
23, 571
20,171
540,
377,
377,
23,
625
452
452
571
241,
161,
161,
52,
40, 340
0
4,908
4,891
14, 320
0
500
1,199
968
804
804
971
459
901
901
055
21,191
18, 483
0 !
0
3, 545 j 2, 284
2.236 I 11,288
13, 786
0
3,107
1,307
15,186
0
816
5,406
202, 553
9,950 275, 866
0
65, 323 56,137
15, 700 42,177
0
0
0
30, 000
0
0
0
0
0
0
0
30,000
0
0
0
0
272, 413 348, 636 138, 249 404, 210
272, 413 332,136 138. 249 402, 710
180, 438 300, 963 79,096 157, 314
0
67, 280
0
0
0
0
129, 458
129, 458
90, 792
25, 796 157, 271
0
53, 300
43
0
0
0
88, 235
0
2,558
0
20, 750
11,360
52, 500
52, 500
0
0
126,102 249, 463 133, 586 291, 677
9,000
0
4,500
500
2,336
37, 852
8,730
20, 400
0
0
56
0
,021,414 20, 950 74,050
18, 250
7,965
39, 485 17, 925 12, 923
0
0
15, 750
16, 500
0
0
10, 500
16, 500
0
0
5,250
0
0
0
0
0
50, 850 235, 093
8,303
10, 303
1,500
0
0
0
0
0
0
1,500
25, 850
12,816
0
0
0
0
18, 600
22. 223
0
0
0
0
28, 800
26, 299
0
0
0
0
99, 668
52, 979
18, 572
259,909
78,160
75, 981
183,242 282, 039 230, 577 343, 357
25, 895
21, 740 30, 241 50,139
10,339
17,045
12,198
3,987
95,115 175, 514
16, 019 18, 200
1,099
5,957
112, 200
21, 408
7,658
221, 252
26, 971
14,088
105, 515
32, 055
12,213
0
375
2,475
0
550
136,115
11, 500
0
0
4,202
30,135
71
46, 689
15, 301
500
1,100
579
0
0
181, 749
60,175
0
0
500
500
1,186
100
0
250
403
12, 666 25, 892
1,930
12, 435
1,500
400
2,700
288
5,770
15, 250
2,677
161, 502 251, 798 180, 438 317,463
20,123
2,000
79, 810 96,124
0
0
130
81
125
1,505
9,200
13, 065
1,600
1,457
79, 096 157,314
600
3,443
0
728
1,975
9,525
1, 523
90, 792
12, 000
0
0
5,360
5, 998
1, 525
194, 281
15, 215
0
0
17, 534
31
2.277
133, 460
0
0
86
111,029
12, 000
1, 500
0
0
31, 388
0
0
12, 755
720
106, 500
1,600
0
0
0
202
830
154, 400 160,185
9,438
4,900
1,536
0
0
0
51
2,505
80, 788 250, 835
0
7,000
3,475
37, 000
0
6,250
230
569
23, 866 147, 052
0
700
0
53, 700
0
1,952
76, 840
0
0
0
0
118,050
60, 000
1.036
0
0
101, 368
20, 494
11,598
60, 422
170, 769
49, 297
92, 355
77, 461
105,332
107,174
649
50
168
71
202
81
326
106
721
137
556
133
669
183
637
151
716
187
504
104
417
102
1,054
170
731
94
893
195
616
253
967
168
709
222
953
174
699
225
831
190
579
236
183
561
230
834
178
570
230
839
183
589
238
792
202
556
235
856
217
520
305
200
577
289
914
195
623
272
906
207
637
266
886
198
602
262
913
0
23, 336
0
21, 403
1, 460
2,010
1,021
0
67, 893
0
0
0
0
235, 104
235, 104
194, 281
0
58, 846
0
0
0
0
188, 559
133, 460
133, 460
187, 771
97, 898
0 !
0
4, 900
35, 562
1,610
0
(Bond Buyer)
State and municipal issues:
Permanent (long term)
Temporary (short term)
thous. of dol.. 173, 024
do
117,889
110,110
206, 269 133, 376 80, 673
65, 820 62,150 154,809
30, 554 • 55, 065
64, 931 22,018 207,413
103, 946
r 62, 022
'64,025 k 160,278
COMMODITY MARKETS
Volume of trading in grain futures:
Wheat
mil. of bu__
Corn
do
SECURITY MARKETS
Brokers' Balances (N. Y. S. E. members
carrying margin accounts)
Customers' debit balances (net)
mil. of dol.-Cash on hand and in banks
do.
Money borrowed
do Customers' free credit balances
do.
' Revised.
tRevised series. Data revised for 1937; see table
26 on pp. 15 and 16 of the May 1939 Survey.
SURVEY OF CURRENT BUSINESS
April 1940
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey
ary
35
1940
1939
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
January
FINANCE—Continued
SECURITY MARKETS—Continued
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.)
dollars..
Domestic
do
Foreign
do
Standard Statistics Co., Inc. (60 bonds)
dol. per $100 bond..
Industrial (20 bonds)
do
Public utilities (20 bonds)
do
Rails (20 bonds)
do...
Domestic municipals (15 bonds)
do
CJ. S. Treasury bondsf
do
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
thous. of dol..
Face value
do
On New York Stock Exchange:
Market value
do
Face value
do
Sales on N. Y. S. E., exclusive of stopped
sales (N. Y. S. E.) par value:
Total
thous. of dol..
U. S. Government
do
Other than U. S. Government:
Total
do
Domestic
do
Foreign
do
Value, issues listed on N. Y. S. E.:
Face value, all issues
..mil. of dol..
Domestic issues
do
Foreign issues
do
Market value, all issues
do
Domestic issues
do
Foreign issues
do
Yields:
Bond Buyer:
Domestic municipals (20 bonds)..percent-Moody's:
Domestic (120 bonds)
do
By ratings:
Aaa (30 bonds)
do
Aa (30 bonds)
do
A (30 bonds)
do
Baa (30 bonds)
do
By groups:
Industrials (40 bonds)
..do
Public utilities (40 bonds)
do
Rails (40 bonds)
do
Standard Statistics Co., Inc.:
Domestic municipals (15 bonds)
do
U. S. Treasury bondsf
do
91.97
95.68
51.58
91.85
95.01
59.68
91.80
94.99
58.43
91.56
94.83
57.40
92.92
96.09
59.73
92.08
95.34
57.79
93.15
96.46
58.46
90.59
94.05
54.50
88.50
92.41
47.29
90.79
94.59
50.55
91.24
95.05
51.23
92.33
90. 02
52.23
92.02
95. 70
52.00
82.2
87.3
101. 6
57.8
119. 1
106. G
82.1
86.4
100.7
59.0
117.3
104.8
83.1
87.1
101.3
60.9
117.9
106.0
79.4
83.8
99.7
54.5
116.4
106.6
80.2
84.8
101.0
54.8
118.1
108.3
81.4
86.2
101.6
56.2
118.6
109.1
81.6
86.3
102.1
56.4
118.3
108.9
81.0
85.8
101.7
55.5
116. 5
108.2
80.9
85.0
98.6
59.0
107.1
101.9
82.9
86.4
100.5
61.6
110.7
102.6
83.0
87.0
101.8
60.2
117.5
104.6
82.1
86.8
101. 6
58.0
119.9
106. 1
82.4
87.3
101.8
58. 2
120.2
106. 8
126,687
166, 855
179,440
245,123
119, 057
165,925
125, 737
167, 691
127, 703
169, 641
121, 420
162, 425
122,908
159, 770
417, 429
498,100
162, 275
229, 653
135, 515
193, 891
125,631 134,462
206, 047 208, 518
81,807
86,903
127, 344 121, 222
137, 021
195, 394
92, 210
133, 554
93, 060
130, 243
91, 785
129, 260
87, 837
123,949
89,189
121,165
384,237
459,821
131,901
194, 212
105,994
159,374
98, 662 101,179
173,971 166,112
120,384 118,993
2, 365
4,871
185, 513
11,889
122, 804
7,459
123,104
7,390
126, 570
6,821
119, 431
5,137
111, 394
8,730
480, 789
227,101
170,089
14,203
151, 685
5,628
176,100
4,322
118,019 114,122
99,176 96, 722
18, 843 17, 400
173, 624
139,909
33, 715
115, 345
93, 396
21,949
115,714
98, 423
17, 291
119,749
102,189
17, 560
114,294
100, 622
13,672
102, 664
85,001
17, 663
253, 688
227,997
25, 691
155, 886
134,816
21, 070
146, 057
123, 230
22, 827
51, 466
46, 862
4,604
47, 271
44, 524
2,748
52, 670
48,071
4,599
48, 352
45, 865
2,687
52, 564
47,975
4,589
48,128
45, 493
2.634
52, 647
48, 056
4,591
48,921
46,179
2,742
52,751
48,166
4,585
48, 571
45,921
2,649
52, 610
48, 032
4,578
49,007
46, 331
2,676
52, 209
47, 642
4, 567
47, 297
44, 808
2,489
52,466
47,917
4,549
46, 431
44, 279
2,151
52,452
47,922
4,531
47, 621
45, 331
2,290
52, 435
47, 869
4,566
47, 839
45, 500
2,339
2.70
2.80
2.72
2.78
2.66
2.66
2.67
3.21
3.30
2.93
3.60
3.81
3.74
3.84
3.78
3.71
3.66
3.67
3.95
3.83
2.86
3.05
3.68
4.83
3.00
3.26
3.94
5.05
2.99
3.22
3.87
4.89
3.02
3.22
3.97
5.15
2.97
3.16
3.92
5.07
2.92
3.13
3.86
4.91
2.89
3.07
3.83
4.84
2.93
3.11
3.80
4.85
3.25
3.49
4.05
5.00
3.12
3.33
4.37
3.29
3.52
4.63
3.29
3.48
4.46
3.35
3.51
4.66
3.30
3.45
4.60
3.23
3.42
4.47
3.17
3.39
4.42
3.21
3.40
4.41
2.60
2.3 2
2.70
2.44
2.67
2.34
2.75
2.30
2.66
2.17
2.63
2.13
2.65
2.16
2.75
2.21
103,351
153,589
53, 937
49, 400
4, 537
49, 605
47. 265
2,340
144.917
3, 760
171,778 141,157
146,192 120, 903
25, 586 20, 254
54, 067
49. 512
4, 554
49, 920
47, 541
2,379
53, 988
49, 440
4, 548
49, 679
47, 314
2, 365
2.72
2.59
2.63
3.70
3.69
3.63
3.15
3.35
3.94
4.88
3.00
3.16
3.78
4.85
2.94
3.14
3.74
4.92
2.88
3.08
3.69
4.86
3.57
3.70
4.58
3.43
3.57
4.51
3.25
3.41
4.44
3.21
3.38
4.47
3.14
3.35
4.39
3.29
2.65
3.08
2.60
2.69
2.46
2.56
2.35
2.54
2.30
Stocks
Cash dividend payments and rates (Moody's):
Annual payments at current rates (600 companies)
mil. of doL- 1,618. CO 1,329.91 1, 334.15 1, 337. 76 1, 339. 27 1,382. 43 1, 391. 46 1,422.99 1,423. 82 1,442. 45 1, 573. 05 1, 589.37 1, 597. 25
936. 43 936.43
Number of shares, adjusted
millions.. 936. 43 935. 03 935.03
935. 03
935.03
935.03
935.03
935.03
935. 03
935.03
935.03
Dividend rate per share (weighted average)
1.71
1.73
1.70
(600 cos.)
dollars..
1.54
1.68
1.52
1.52
1.49
1.48
1.42
1.43
1.43
1.43
3.01
3.01
3.01
3.01
3.01
Banks (21)
do
3.01
3.01
3.01
3.01
3.01
3.01
3.01
3.01
1.63
1.67
1.63
Industrials (492 cos.)
do
1.45
1.61
1.42
1.42
1.38
1.31
1.37
1.30
1.31
1.30
2.64
2.64
2.53
Insurance (21 cos.)
do
2.39
2.39
2.39
2.39
2.33
2.39
2.39
2.31
2.33
2.31
1.95
1.95
1.95
Public utilities (30 cos.)
do
1.95
1.95
1.92
1.94
1.95
1.94
1.94
1.91
1.92
1.92
1.26
1.26
1.25
Rails (36 cos.)
do
.90
.90
1.25
.90
.90
.87
.90
.90
.90
.90
Dividend declarations (N. Y. Times):
Total
thous. of dol.. 338,366 303,839 186, 095 154,076 377, 394 220,175 181,033 310,284 193, 698 199,969 659, 512 330, 592 231, 651
323, 201 289,412 182, 522 147, 635 358,417 200, 698 167,167 296,168 191, 364 192,915 608,149 311,996 215,588
Industrials and misc
do
15,165
18, 596 16,064
51, 362
7,053
Railroads
do
13,866
2,334
14,116
14, 427
6,440
18,976
19,477
3,573
Prices:
Average price of all listed stocks (N. Y. S. E.)
63.0
64.4
63.2
65.8
Dec. 31, 1924=100.63.6
62.2
65.9
60.2
57.9
64.4
56.6
57.0
57.0
Dow Jones & Co., Inc. (65 stocks)
49.72
50.01
49.44
51.01
dol. per share. .
46.82
51.80
50.47
42.68
44.43
45.66
46.47
48.68
48.99
148. 54 147.60
147. 29 144.60
149.98
Industrials (30 stocks)
do
139. 26
152.15
150. 72
127. 73
132. 56
136. 52
137.89
145. 06
25.44
25. 00
24. 87
25. 68
Public utilities (15 stocks)
do
24.96
25. 64
24.36
22.05
23.05
23.66
25.68
24.94
24.84
31.09
31.63
33.38
30.83
Rails (20 stocks)
do
28.29
34.27
31.97
25.75
27.02
27.59
27.67
30.31
31.07
109. 01 107.40
108.59
107. 83 102. 22
99.74
110. 33
New York Times (50 stocks)
do
110. 38
90.46
94.19
96.95
99.44
100. 59
191.78
194.21
192. 28
178.03
194. 82
Industrials (25 stocks)
do
192. 67 181.21
195. 86
161. 51
167. 73
173.12
178. 21
178.01
24.90
23.03
23.82
21.45
25.84
Railroads (25 stocks)
do
24.91
22.98
19.41
20.67
20.79
20.68
23.24
23.18
Standard Statistics Co., Inc.:
92.7
94.2
91.8
91.5
Combined index (420 stocks)
1926=100-.
92.4
95.3
86.3
86.0
86.1
81.9
83.1
91.7
90.1
108.8
110.9
107.9
Industrials (350 stocks)
do
107.3
112.7
100.5
109.4
100.5
100.6
95.9
97.0
108.0
106.3
137.2
132.7
133.8
141.9
Capital goods (107 stocks)*
do
130.1
121.5
120.0
120.9
138.1
115.4
115.5
133.3
130.9
102.0
102. 5
101.6
100. 6
Consumer's goods (194 stocks)*..-do
96.9
102.2
95.4
96.2
91.5
98.3
96.5
98.7
88.7
87.3
88.4
86.0
87.0
86.7
Public utilities (40 stocks)
do
84.7
84.9
87.6
82.4
84.3
85.8
80.0
83.8
31.6
32.9
29. 6
25.4
Rails (30 stocks)
do
25.9
25.7
29.6
25.0
28.7
29.7
24.8
29.7
28.0
Other issues:
59.3
59.9
58.7
58.3
Banks, N. Y. C. (19 stocks)
do....
55.2
50.4
54.0
59.3
55.0
58.7
53.5
53.7
51.1
Fire and marine insurance (18 stocks)
95. 3
88.2
91.9
87.6
94.0
89.3
90.7
1926=100..
96.4
84.3
89.8
87.0
81.0
85.7
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
844
774
774
769
556
2,205
1,185
Market value
mil. of dol_.
882
767
584
1,058
603
654
92, 464
Sbares sold
thousands.. 26,093
21,916
31, 454
31, 391
43,440
35,426
31, 446 31,710
42,622
40, 384
23,131
26,059
*New series. For data beginning 1926 see table 24, p. 18, of the April 1939 Survey.
t Revised series. Revised data for U. S. Treasury bond prices beginning 1931, and U. 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, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the February
1938 Supplement to the Survey
April 1940
1939
February
March
April
May
June
July
1940
SepDecem- JanuAugust tember
October November
ber
ary
FINANCE—Continued
SECURITY MARKETS—Continued
Stocks—Continued
Sales (S. E. C.)—Continued
Total, on all registered exchanges—Con.
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..
19,367
560
19,538
916
31,150
779
33, 783
523
17,897
473
16, 435
677
25,016
669
24,554
1,970
75,192
1,045
35,029
723
27, 516
23,175
653
24,141
13,466
13,877
24,565
20,247
12,933
11,967
18,066
17,372
57,081
23,734
19,220
17,769
15,991
46,058
1,441
46,271
1,426
40,921
1,427
40,673
1,427
43, 230
1,427
41,005
1,429
44, 762
1,430
41,653
1,430
47,440
1,431
47,374
1,431
45, 505
1,432
46,468
1,435
45,637
1,441
4.6
4.0
4.5
4.3
5.3
4.7
3.7
4.6
3.3
4.0
5.3
3.2
4.2
4.8
3.8
4.3
5.8
3.9
4.2
4.8
3.9
4.4
5.7
4.0
4.0
4.4
3.7
4.1
5.4
3.7
4.4
4.5
4.1
4.2
5.7
4.1
4.1
4.4
3.8
4.0
5.2
3.5
4.5
4.6
4.2
4.3
5.5
4.1
3.9
3.9
3.6
4.1
5.4
2.8
4.0
4.0
3.7
4.0
5.3
3.0
4.5
4.2
4.4
3.9
5.3
4.6
4.5
4.2
4.3
4.1
5.3
4.5
4.6
4.1
4.4
4.3
5.3
4.90
4.94
4.92
4.94
4.87
4.92
5.14
5.09
4.95
4.90
Stockholders (Common Stock)
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..
642, 293
104
212, 358
2,832
169,079
3,288
25.54
645, 033
7,153
213,143
2,853
167, 650
2,""
24.78
639,019
7,003
211,014
2,807
168,176
3,286
26.00
4.8
636,884
6,787
209,346
2,752
164, 822
3,191
28.03
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
Imports:
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, quantity:
Unadjusted
Adjusted
Total, excluding cotton:
Unadjusted
Adjusted
1910-14=100-.
do
do
do
91
100
58
63
61
64
66
70
62
66
72
76
72
77
70
60
69
87
70
72
67
97
91
130
91
70
92
58
63
113
71
63
98
61
62
107
66
62
101
63
62
99
61
62
108
67
62
117
76
65
131
87
66
116
77
67
140
96
69
62
62
49
49
59
53
58
53
63
61
55
58
52
57
54
57
56
59
67
65
73
73
76
77
99
59
60
89
48
54
112
60
54
107
58
54
111
61
55
102
56
55
98
53
55
102
56
55
112
63
56
116
65
56
119
67
57
127
73
58
75
74
124
73
59
96
104
61
66
68
69
47
55
52
62
35
46
36
51
51
63
88
81
111
82
73
56
95
75
118
105
71
77
87
95
92
92
72
78
91
95
56
63
60
66
69
71
66
83
72
57
52
63
70
58
71
70
229, 628
250,839
288,573
332,079
292, 582
367,819
368, 584
10, 270
43,866
12, 551
87, 787
14,894
5,406
3,721
33, 452
41,008
40,074
21,850
5,565
24,847
6,268
6,242
1,596
8,376
43, 360
12,126
113,954
22, 269
6 868
3'027
47, 434
43,162
42, 332
20,120
4,606
21,867
4,675
5,135
1,818
8,959
50, 632
19, 347
121, 301
12,132
607
4,834
60, 339
53,165
52,156
29,116
5,781
25, 401
4,942
5,997
2,020
10,385
62, 780
23, 367
127, 690
12, 555
39
6,301
52,924
62,847
61,715
33,102
8,579
32,960
6,989
8,609
2,667
8,997
58, 577
25, 243
104, 399
13, 239
11, 342
78,120
27, 556
157, 340
36, 645
11, 276
76, 061
28, 247
172, 640
38, 508
6,029
31, 485
52,113
51, 262
29, 510
8,700
38, 986
9,887
10, 608
3,625
8,623
50,395
44,477
43, 878
32, 311
9,926
44, 227
10, 791
10, 483
3,908
8,300
67,143
42,282
41, 647
27, 758
8,046
38,566
10,157
9,216
3,259
226, 737
29, 667
5,970
19, 719
4,671
15, 048
4,423
5,221
3,837
45, 994
131, 357
18, 520
7,628
43, 654
168, 925
248,148
36, 499
11,869
24, 329
8,384
15,945
7,199
4,036
5,465
53, 504
133, 817
14,893
8,746
43, 611
175, 756
284,041
66,847
35, 661
28,786
7, 477
21, 309
9,014
4,434
4,270
58, 993
129,415
12,457
9,728
40,143
181,461
323,168
78,449
47, 254
37,760
10, 213
27, 547
13, 777
4,876
3,604
64, 537
142,422
18, 900
9,256
42, 316
215, 281
286,891
58, 318
30, 563
22, 656
5,386
17, 270
5,738
4,057
3,078
63,200
142, 716
19,870
7,524
38, 637
235, 402
357, 450
64, 264
43, 741
24, 342
7,784
16,558
4,099
5,133
1,978
75, 661
193,183
24, 826
9,638
48,100
246, 903
359,098
82,193
59,884
27, 705
7,257
20,448
4,316
7,154
2,259
75, 362
173,838
23, 736
6,412
44,173
241,897
4,497
53,040
8,716
5,702
54, 339
13,171
3,341
60, 511
19,520
5,229
64,197
20,438
9,033
77,695
18,985
9,955
91,005
18,915
8,030
100,107
22.196
71
VALUE §
Exports, incl. reexports
thous. of dol._ 346, 779 218, 559 268, 364 230, 947 249, 259 236,058
By grand divisions and countries;
10,789
8,530
9,996
10,101
8,523
11, 560
Africa
do
61, 520
46,406
60, 565
49, 243
54,165
49,971
Asia and Oceania
do
15,193
16,147
21,
394
14,
769
23,
573
17,
484
Japan
do
165, 741
95,445 108,143
88,809
97, 955
85, 711
Europe
do
39,277
12,
944
10,
807
12,
614
12,468
10,653
France
do
4
a AAR
A Oflfi
6 294
5 299
Germany
do
O, 1 /O
0, 440
1, 5UD
9,598
4^263
4,' 460
Italy
do
3,889
5,056
4,130
58, 534
34, 311
37, 410
36, 604
41,874
38, 678
United Kingdom
do
43, 671
40, 452
43,583
35,055
33,092
26, 258
North America, northern
do
43,131
32, 298
34, 535
42, 637
39, 874
25, 764
Canada
do
28,065
23, 358
23,462
22,
356
27,
598
20,
453
North America, southern
do
7,522
7,991
6,320
6,296
7,922
5,928
* Mexico
do
36,993
24,277
22,
669
26, 571
T21,472
27,407
South America
do
9,147
5,281
4,068
4,918
6,113
4, 067
Argentina
do
10,116
5,193
5,417
6,007
6,664
5,120
Brazil
. . . _do
1,621
2,651
1,479
1,480
2,188
Chile
do.— 3,418
By economic classes (U. S. mdse. only):
Total
thous. of doL. 338, 639 216,036 264, 578 227, 597 245,913 233, 359
61,113
26,016
30,243
25, 713
40,072
36, 485
Crude materials
do
44, 283
7,458
6,157
9,185
13, 732
16, 958
Cotton, unmanufactured
do
19, 521
31,
222
23,
621
26,927
27,966
26, 553
Foodstuffs, total
do
8,752
9,810
10, 808
6,026
11,402
12,287
Foodstuffs, crude.
do
22, 470
15, 679
13,811
16,119
13, 495
15,151
Foodstuffs and beverages, mfrs.-.do
5,554
5,844
3,523
6,656
6,404
7,017
Fruits and preparations
do
6,889
3.698
4,851
4, 997
4,724
4,145
Meats and fats
do
3,340
4, 079
7,601
5,459
6,406
7,403
Wheat and
flour
do
71,355
48, 462
41,008
48, 247
45, 658
34,868
Manufactures, semido
174, 950 118,128 150,882 136, 951 140, 495 139, 664
Manufactures,
finished
do
23, 835
24, 921
23, 753
20, 387
28,504
25, 335
Autos and parts
do
5,534
10,119
9,453
6,813
8,378
6,367
Gasoline
do
42,191
45, 235
43, 882
44, 401
49, 390
34, 605
Machinery
do
199, 775 158,035 190, 437 186,195 202, 502 178, 953
General imports, total
do
By grand divisions and countries:
4,469
8,640
8,571
6,964
6,479
10, 481
Africa
do
59, 952
51,162
59, 454
57,080
42, 780
65, 789
Asia and Oceania
:
...do
11, 237
10, 747
10, 607
9,707
7,896
Japan..
__.do
7,998
0
Less than $500.
§ Revised series. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.
97
95
37
SURVEY OF CURRENT BUSINESS
April 1940
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the February
1938 Supplement to the Survey
1940
1939
Febru-
March
April
I
May
July
June
August
tember
DecemOctober November
ber
January
FOREIGN TRADE—Continued
VALUE § —Continued
General imports—Continued.
By grand divisions and countries—Continued.
Europe...
thous. of dol_
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. of doL
Crude materials
do__.
Foodstuffs, crude
do._FoodstufTs and beverages, mfrs
do
Manufactures, semido...
Manufactures,
finished.
do
38,039
4,786
2,613
8,945
26,963
26,279
23, 270
6,733
35,234
10,819
8,067
4,593
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
52, 298
5,692
5,171
3,976
11,971
23, 559
23,128
22, 732
6,326
24,932
5,460
9,421
2,583
57, 574
5,411
13, 829
3, 289
11,572
26,163
25, 671
19, 406
4,442
23,319
4,357
7,867
3,813
58, 946
7,122
2,885
3,289
15,192
28,850
28, 323
22,178
3,995
24, 434
4,355
7,420
2,750
46, 009
4,903
3,349
2,711
11,664
26,964
26, 533
19, 299
4,365
25,132
3,952
9,160
2,468
44, 496
5,146
3,975
2,264
11, 081
26, 993
25, 557
18, 530
3,627
21, 370
3,207
6,657
1,822
48,150
5,708
3,797
2,080
10, 990
26, 681
25,970
18, 490
3,534
22, 394
4,787
8,281
1,691
41, 516
3,851
1,815
2,401
10,967
34, 233
33,125
19, 655
3,460
22,206
3,803
8,351
1,813
53, 853
2,994
1,557
5,123
14, 605
40,426
39,827
22, 029
4,379
29, 548
5,055
11,390
3,728
60,344
6,313
2,656
4,965
13, 577
36,109
34,833
15,166
5,352
37, 053
6,689
12, 395
6,629
57,333
5.303
3; 383
3,895
15, 719
33, 215
32,012
17, 111
5,912
38,285
8,363
10, 215
7,879
52,024
7,313
1,591
2,563
14,191
30,164
28,877
20,002
5,958
189, 824
70,420
23,838
23,138
42,860
29, 567
152, 528
48, 073
22, 947
18,635
34, 047
28,827
191, 226
59, 507
28, 205
26, 296
38,822
38,396
185,800
54, 940
24,053
25, 036
37,936
43,836
194,193
62, 277
25,886
26, 062
39,857
40, 411
178,405
54, 725
22, 518
27, 725
38, 633
34,804
170,451
50, 041
21, 759
27, 799
36,912
33,939
180, 379
60,962
20, 778
27, 605
35, 651
35, 383
199,483
67,606
19,465
38,412
38, 275
35, 725
207,140
70, 500
24,898
27, 722
45,416
38, 604
214, 454
75, 386
27,881
21, 777
48, 614
40, 795
232, 738
86, 770
25, 665
29, 7S6
55, 619
34,898
234, 634
95,714
24, 793
23,316
53, 732
37,079
9,560
74
9,525
76
11,007
74
924
31, 570
9,663
7,871
2,480
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Express Operations
Operating revenue
Operating income
thous. of dol
do
8,499
72
9,107
76
9,165
67
9,454
59
9,374
69
8,899
68
9,105
63
9,696
62
Local Transit Lines
Fares, average, cash rate
Passengers carried!
Operating revenues
_.
7.864
7.873
7.864
7.864
7,839
7.873
- cents
thousands._ 767, 688 ' 731, 828 '829,806 '783,279 '807,157 '760,636
55, 383
59, 702
56, 628
58, 222
53, 361
thous. of dol..
r
7.864
7.864
7.864
7.864
7,839
7,839
7.864
705, 587 '718,852 '740,887 '810,731 '784,590 '825,903 '811,787
59, 309
51,907
52,699
54, 561
57,174
60, 649
58, 950
Class I Steam Railways
Freight-carloadings (Federal Reserve):
68
Combined index, unadjusted... 1923-25 = 100_.
80
Coal
do
88
Coke
_
do
43
Forest products
do
69
Grains and grain products
.
do
33
Livestock
do
59
Merchandise, 1. c. 1
do
26
Ore
...
do._.
71
Miscellaneous
do
73
Combined index, adjusted
do
Coal
__
do _.
68
65
Coke
do
44
Forest products
do
75
Grains and grain products
do
40
Livestock
do
61
Merchandise, 1. c. 1
do __
107
Ore
do
83
Miscellaneous
__ . . . d o
Freight-carloadings (A. A. R.):^
2,487
Total cars
thousands
571
CoaL
..do
43
Coke
_.
do
121
Forest products
.
do .
123
Grains and grain products
do
43
Livestock
do
571
Merchandise, 1. c. 1
.
do
39
Ore
do
974
Miscellaneous ._ _ _
do
178
Freight-car surplus, total
do
69
Box cars
_
do
75
Coal cars
do
Financial operations:
Operating revenues, total
thous. of dol._ 313,475
257, 630
Freight
do
31,945
Passenger
. __ _
do
240, 519
Operating expenses
do
32, 618
Net railway operating income
do
Net income
do
Operating results:
Freight carried 1 mile
mil. of tons
Revenue per ton-mile
cents
Passengers carried 1 mile
millions..
62
76
62
35
64
31
60
22
64
67
65
46
36
70
38
62
93
75
63
66
57
36
67
32
62
21
70
66
62
55
36
73
40
62
86
73
58
36
47
39
68
37
62
31
72
60
43
56
38
76
40
61
75
70
62
44
40
41
73
36
61
81
73
62
51
42
40
81
40
61
58
70
67
58
47
42
89
30
61
108
74
67
68
51
40
90
36
61
64
71
70
64
52
43
111
34
61
112
74
69
76
62
43
80
39
62
59
72
71
69
57
44
90
37
62
125
75
70
78
69
42
75
37
62
67
74
85
89
78
49
99
57
65
149
92
77
85
82
45
88
45
63
85
82
89
96
95
52
87
62
65
160
97
80
87
95
50
87
44
62
108
86
83
87
100
50
83
50
64
105
91
82
80
100
51
88
41
63
191
89
73
79
101
44
75
39
60
29
81
78
71
92
51
87
40
62
116
89
72
95
106
41
66
38
58
25
74
78
83
90
47
73
39
62
114
86
2,283
515
30
99
116
42
577
34
870
209
102
63
2,390
478
29
105
125
42
612
33
967
202
95
67
2,832
350
29
140
159
61
775
58
1,261
265
86
146
2,372
297
19
121
137
49
612
121
1,016
211
90
87
3,149
503
28
151
202
50
744
209
1,261
175
79
65
2,549
429
24
118
200
44
583
167
983
166
79
53
2,689
476
27
126
170
48
615
192
1,034
131
70
34
3,844
740
45
171
219
90
780
277
1,523
70
33
16
3,375
676
46
152
165
84
640
253
1,358
68
34
15
3,040
601
47
142
148
67
616
182
1,236
108
47
35
3,262
671
59
155
171
63
716
55
1,371
160
58
69
2,555
643
50
115
117
50
554
38
989
126
59
36
302, 618 321, 617
243, 641 255, 763
31, 758
38,436
237,411 241, 786
25,101
39,095
<* 18, 594 * 1, 685
332,436
265,086
41, 269
241,962
49, 012
6,578
344,400
276, 707
39,821
247,622
54, 586
10,053
381,118
314,400
37,146
251,167
86,435
41,078
419, 717
355,104
33, 367
271, 538
101, 616
56, 521
368, 027
310,434
29,289
256,170
70,346
33,004
345,247
276, 272
37, 816
249,013
60, 953
36, 622
345,498
283,107
36,079
257, 341
45, 567
29, 824
.971
2,355
31, 389
.962
2,283
36,115
.941
2,097
40, 066
.951
1,866
35,131
.953
1,591
31,460
.961
2,020
32, 502
276,904
224,819
30, 237
220, 620
' 1 8 , 638
* 24, 364
315,091
257,469
31, 201
240, 359
34, 317
<* 10, 505
282,118
224, 588
31, 791
227,622
15, 258
•* 27,896
25, 553
.972
1,555
28,831
.988
1,618
23,983
L035
1,681
25, 737
1.045
1,725
28, 465
.987
2,075
Waterway Traffic
Canals:
362
317
434
363
396
414
434
326
369
513
485
661
566
Cape Cod .
thous. of short tons__
0
101
0
735
586
687
615
717
0
0
538
709
0
New York State
..do
2,473
2,124
2,664
2,539
2,437
2,385
2,446
2,386
2,207
2,318
2,473
2,461
2,338
Panama, total
thous. of long tons
1,022
892
921
905
971
1,034
1,037
873
806
1,031
689
1,047
1, 066
In U. S. Vessels..
do
d
' Revised.
Deficit.
tData for April, June, September and December, 1939 are for 5 weeks; other months, 4 weeks.
tfFor comparable monthly figures, January 1929-December 1936, see table 10, p. 15 of the March 1939 Survey. For 1937 revisions see p. 37 of the April 1939 Survey. Data
for 1938 and 1939 have also been revised, with 196 companies reporting as compared with 203 companies since January 1937. Comparability of the data is affected to only a
slight degree. Revisions not shown above are as follows (thousands); 1938, Jan. 792,728; Feb. 726,652; Mar. 816,893; Apr. 780,392; May, 768,828; June, 735,175; July, 674,503;
Aug. 695,310; Sept. 724,338; Oct. 784,285; Nov. 771,486; Dec. 833,583; 1939, Jan. 785,094.
§ Revised series. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.
38
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey
ary
April 1940
1939
February
March
April
May
June
July
1940
August
September
DecemOctober November
ber
January
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION-Continued
Waterway Traffic—Continued
Canals—Continued
St. Lawrence
thous. of short tons..
Sault St. Marie
do
Suez
thous. of metric tons_.
Welland
thous. of short tons._
Rivers:
Allegheny
do
Mississippi (Government barges only) _.do
Monongahela
do
Ohio (Pittsburgh district)
do
Clearances, vessels in foreign trade:
Total, U. S. ports
_.__thous. of net tons..
Foreign
do
United States
do
0)
0
125
80
1,615
836
0
0
2,277
0
0
0
2,561
0
50
43
2, 569
200
1,189
5,799
2,476
1,324
1,161
8,622
2,220
1,580
1,119
9,598
2,406
1, 659
1,284
10, 552
2, 329
1,713
1,216
11, 493
986
1,564
1,215
12, 353
1,373
1,748
135
124
1, 557
880
199
136
1,742
1,114
101
169
348
469
136
67
661
655
230
145
1,688
1,265
242
191
1, 704
1,400
234
228
1,949
1,411
279
150
2,077
1,355
320
181
2,457
1, 443
4, 734
3,607
1,127
5,424
4,160
1, 263
5,280
4,038
1,242
6,241
4,766
1,475
6,667
4,971
1,696
7,082
5, 280
1,802
7,280
5,551
1,729
6,306
4,537
1,769
5,974
4,285
1,689
1,073
10,438
33
953
0)
0)
404
1,535
303
192
2,494
1,427
6, 071
4,196
1,875
(0
0
214
128
2, 658
1,443
60
83
1,281
315
4, 536
3,215
1,321
4, 356
3, 034
1,322
Travel
Operations on scheduled airlines:
Passenger-miles flown
thous. of miles.. 58, 937
Passengers carried
number... 139, 816
Express
pounds... 697, 385
Miles flown
thous. of miles...
6,673
Hotels:
Average sale per occupied room
dollars..
3.25
Rooms occupied
percent of total. _
66
Restaurant sales index
1929=100..
91
Foreign travel:
Arrivals, U. S. citizens...
number..
Departures, U. S. citizens
do
Emigrants
do
Immigrants
do
Passports issued
do
1,870
National Parks:
Visitors
do
Automobiles
do
Pullman Co.:*
Revenue passenger-miles
thousands. _
Passenger revenues
thous. of dol..
35,002
81,131
564, 928
5,032
49,445
53,483
63, 361 70,199
72, 918 75,145
75, 800 77, 468 67,031
71, 530 61, 355
117,071 133, 469 162, 682 179, 055 185, 643 194,418 192, 544 194, 216 171, 557 175, 263 150,102
685, 274 663, 884 725, 061 824, 630 725, 922 933, 965 981, 462 948, 501 844,413 1,038,278 817,633
6,125
6,268
7,122
7,541
7,639
7,183
7,442
7,626
7,408
7,716
7,271
63
86
3.15
64
84
3.37
63
3.20
63
90
3.34
62
95
3.29
57
84
3.39
61
93
3.35
64
3.39
67
93
3.44
61
3.29
54
90
3.21
66
92
25, 590
28, 224
1,479
5,959
4,865
31, 909
21,673
1,702
8,076
8,383
25, 374
21, 575
1, 851
7, 063
8,839
19,800
19,011
2,077
6,049
16, 080
20, 889
24, 788
3,168
4,512
21,013
29, 872
42, 246
3,163
4, 694
10, 393
44, 501
38, 573
2,950
7,006
7,444
40, 295
26, 656
2, 301
5,518
1,843
19, 700
10,033
1,996
5,492
1,759
10,129
7,984
1,607
5,861
1,641
11, 565
7,099
1,714
7,673
1,633
13, 367
15, 785
1,530
3,876
r
1,912
62,848
17, 618
72, 280 164, 736 248, 075 471, 624 916,175 875, 682 433,014
21, 779 48, 892 73,402 136, 576 249, 905 238, 296 131,631
247,149
74, 366
83, 966
27, 081
63, 486
19, 740
68, 774
19, 470
654,896
4,473
715,420
4,769
684,444
4,447
631, 529 769, 819 801, 514 764, 706 736, 325 696,186
4,842
4,147
4,855
4,990
4,679
4,467
562, 047 675, 284 795, 095
3,704
5,254
4,367
COMMUNICATIONS
Telephone:
Operating revenues.
.thous. of dol_.
Station revenues
do
Tolls, message
do
Operating expenses
do
Net operating income
do
Phones in service, end of month..thousands...
Telegraph, cable, and radiotelegraph carriers:
Operating revenue, total
thous. of dol__.
Telegraph carriers, total
do
Western Union Telegraph Co., revenues
from cable operations
thous. of dol..
Cable carriers
do
Radiotelegraph carriers
do
0 perating expenses
do
Operating income
do
Net income
do
96, 064 101,610
66,491
64,504
22, 954 26,498
68,456
64,155
19,479
18,438
17, 808 17,897
100,083 102, 646 102,119
66,162 66, 875 66, 521
26, 923
25, 275 27,101
68,184
65, 683
20, 576 19, 832 20, 027
17, 974 18, 055 18, 072
99, 824 101, 793 103,843 105, 520 103, 403 105, 125 106,144
64, 690 65,060 65, 696 68, 453 68, 394 69, 026 70, 023
26,383
27,942 29, 361 28, 318 26, 265 27,188 27, 322
67, 738 68, 650 67, 210 69,157
70,052
70, 568 70, 329
18, 398 19, 268 22, 386 22, 240 19, 406 20,119
20, 973
18,102 18,160
18, 203 18, 357 18, 447 18, 537 18, 710
9,987
8,436
11, 577
9,717
11,012
9,383
11, 735
10,065
11, 721
10,113
10, 676
9,189
11, 583
9,887
14,117
11,079
463
756
795
9,319
*17
<*934
588
901
960
10,031
814
502
768
861
9,809
512
<*387
514
790
880
10,289
699
<*229
501
774
834
10,142
886
43
451
707
780
10,028
<*77
<*951
542
802
893
10,146
695
<*222
900
1,417
1,622
10, 548
2,683
1,877
12, 350
1,092
1,263
10,147
1,413
503
11, 465
9, 324
13,183
10, 822
658
1,103
1,258
10, 847
1,533
604
610
989
1,152
10,027
667
I
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Alcohol, denatured:
9,202
7,523
7,944
7,395
6, 558
7,578
8,203
12, 848
15, 453
13,068
8,505
11, 434
10,147
Consumption.._
thous. of wine gal._
9,190
7,719
8,490
8,166
7,437
6,446
7,616
12, 625
15,181
13,060
8,460
11,158
10, 398
Production
do
1,766
1,485
1,982
2,015
2,007
1,260
1,294
1,776
1,479
1,496
1,173
1,366
1,417
Stocks, end of month
..do
Alcohol, ethyl:
17, 857 18, 655 16, 838 17, 643 18, 539
18,104
20, 965
21, 787
22, 080
20, 656
Production
thous. of proof gal.. 20, 381 14, 650 17,438
31, 078 30, 860 32, 232 32,919
25, 913
17, 974
14,168
14, 614
15, 279
18, 773 26,072 27, 741 29,625
Stocks, warehoused, end of month
do
15,029
13,823
13, 202 13, 253 15,031
16,050
22, 315
22,944
26,033
19, 524
18, 386
Withdrawn for denaturing
do I 14, 697 11,198
2,074
2,009
1,780
1,851
1,765
1,363
2,187
1, 504
2,248
1,640
1,729
2,282
1,858
Withdrawn, tax paid__
do
Methanol:
10,806
18,441
108,084
195,034
28,373
26,359
24,195
28,337
263,
588
123,995
228,
357
368,
246
369,
290
Exports, refined §
gallons._
.36
.36
.36
.36
.36
.36
.36
.36
.36
.36
.36
Price, refined, wholesale (N. Y.)_dol per gal..
Production:
365
389
354
344
378
336
405
463
480
434
457
Crude (wood distilled)
_.thous. of gal_.
2,679
2,407
2,276
1,779
2,295
2,267
2,495
2,640
4,158
4,612
4,184
3,453
Synthetic
do
26, 592 27,801
26, 341 29, 315 30, 210 27, 652 32, 700
35, 933
40, 612
35,477
30, 580
34, 690
Explosives, shipments.
thous. of lb_. 31,035
Sulphur production (quarterly):
105, 895
83, 260
106, 795
126, 650
Louisiana
long tons..
405, 263
372, 655
357,819
530, 047
Texas
do
Sulphuric acid (fertilizer manufactures):
Consumed in production of fertilizer
106,137 104, 378 115,119 134,287 175,338 176,860 172, 332 182,160
138,273 119,081 112, 593
short tons._
Price, wholesale, 66°, at works
16.50
16.50
16.50
16.50
16.50
16.50
16.50
16.50
16.50
16.50
16.50
16.50
16.50
dol. per short ton._
169,769 169,952 145,689 155, 902 140, 580 139, 248 161,791 153,897 205,024 208,461 219, 838 235, 023
Production
short tons..
Purchases:
8,853
15, 021
10, 535 18,635
19,252
18, 751 11,951
30,040
31,774
37,562
32,885
26, 699
From fertilizer manufacturers
do
16,542 20,771
25,614
17,067
15,568
23,778
17,508
33,590
40,049
32,784
26, 826
From others
do
Shipments:
33,202 38,123
36, 966 25,804 45,396
37,574
39,167 35,100
42, 835
44,979
47, 623
39, 636
To fertilizer manufacturers
do
35, 545 42,864
35, 528 38,835 43, 369 45,376 43,346
44,089
57,410
58,318
59,870
Toothers
.58, 335
d
' Revised.
» Discontinued by reporting source since the outbreak of war.
Deficit.
« Less than $500.
*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 Survey.
§Revised series. Data revised for 1937, see table 19, p. 14, of the April 1939 Survey.
39
SURVEY OF CURRENT BUSINESS
April 1940
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey
ary
1939
February
March
April
May
June
July
1940
August
September
DecemOctober November
ber
January
CHEMICALS AND ALLIED PRODUCTS—Continued
FERTILIZERS
Consumption, Southern States
thous. of short tons..
Exports, total§
long tons..
Nitrogenous §
do
Phosphate materials!
do
Prepared fertilizers§
do
Imports, total§
do
Nitrogenous, total§
do
Nitrate of soda§
do
Phosphates!
do
Potash§
do
price, wholesale, nitrate of soda, 95 percent
(N. Y.)
dol. per cwt..
Potash deliveries*
short tons. _
Superphosphate (bulk):
Production
do
Shipments to consumers
do
Stocks, end of month
do
1,476
675
627
53, 398 85, 095 123, 687
28, 902 15, 645
6,723
19, 717 66, 552 97,983
476
800
340
140, 544 109,932 138, 782
73, 792 101, 396 116, 806
26, 506 54, 552 42,920
3,599
969
406
17, 235
6,795
65, 486
1.450
10,106
1.450
2,632
1.450
5,250
1,271
312
48
43
148
190
136, 328 148, 095 136, 016 154,800 141,171 123, 792 112, 699
5,365
12, 655
8,067 26,618 27,157 18, 974
12,142
123, 270 112, 773 105,934 137, 446 106,607 76,904 78, 418
302
268
447
349
697
1,921
343
191,057 145, 432 109,737 90,102 76, 002 88,276 110,046
45,632 45, 795 71, 447 91,431
167, 558 99, 074 90,541
9,481
10, 445 42, 204
115,188 62, 010 59, 332 18, 479
594
2,321
408
2,549
392
7,033
1,462
16,425
41, 234 29,087 15,877 14, 571
16, 580 10,415
1.450
8,379
312, 284 301,694 286,747
54, 893 161, 202 216,671
1,288,536 1,106,679 815,911
1.450
8,674
1.450
17, 337
1.450
26, 632
1.450
38, 956
1.450
54, 762
1.450
72,622
108
79, 270
7,538
55, 009
486
109,670
101,335
66,407
2,799
4,214
187
70, 905
18, 629
43, 474
489
126, 952
106, 510
59, 518
705
18,161
379
56, 602
27,164
27, 099
278
146, 012
103, 281
56, 627
693
41, 798
1.450
70, 952
1.450
62, 635
1.450
r 54, 944
277, 437 243, 402 243, 356 279,107 305, 538 406, 809 417,410 405,199 430, 820
139, 648 34, 263 13,496 28, 277 109, 223 67,143
19,225
24, 368
30, 335
778, 758 871,109 924,045 963, 431 1,012,067 1,122,492 1,228,028 1,233,297 1,256,690
NAVAL STORES
Rosin, gum:
Price, wholesale " H " (Savannah)
5.48
5.44
5.21
4.94
4.96
5.05
5.65
5.19
4.86
5.46
dol. perbbl. (280 lbs.)..
57, 640 60, 289 54, 574
13, 757 19, 367 43, 810 57, 079 61, 744 61,096
6,764
Receipts, net, 3 ports
bbl. (500 lbs.) __
Stocks, 3 ports, end of month
do
570, 403 642, 825 609, 502 615, 381 625,138 639,914 659, 878 672, 880 679,127 630, 926
Turpentine, gum, spirits of:
.24
.24
.26
.24
.24
.24
.26
.29
.27
.33
Price, wholesale (Savannah)
dol. per gaL_
15, 884 14, 692 13, 754 16, 369 14, 605
1,908
3,256
9,799
14,638
Receipts, net, 3 ports
bbl. (50gal.)_.
611
Stocks, 3 ports, end of month
do
66, 532 118,954 109,626 107, 339 104,759 102, 941 102,126 102,285 101,111 93, 317
5.34
43,736
643, 443
5.24
51, 032
642, 234
5.37
11, 630
605, 046
10, 945
98, 986
.27
10, 202
94, 677
.30
1,487
76, 664
OILS, FATS, AND BYPRODUCTS
Animal Fats and Byproducts and 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
233,456
501,165
346, 321
217,899
503, 947
403, 809
254,196
480,143
318,481
255, 751
628,700
417,333
48,182
6,419
54,170
47, 438
92, 964
54, 943
54,120
93, 578
52, 799
61,010
107, 355
60, 316
354,692
51,163
300,076
55, 350
66,138
8,983
180, 364
405,331
36, 539
330, 816
56, 621
68,022
68, 402
221,405
79,894
111,628
245,155
66, 512
47, 713
242, 725
Vegetable Oils and Products
Vegetable oils, total:
Consumption, crude, factory (quarterly)
712
mil. of lb.
816
952
1,019
7,908
12,091
3,994
3,673
3,865
24, 745
Exports
thous. oflb
4,202
4,136
4,314
2,559
16,022
10, 499
17, 436
51,
620 64,593
66,
579
Imports, total §
do...
85, 466 98,010 60,455 97, 275 91,633 79, 467 86,413
80, 975
80, 731
81, 674
7,580
10, 292 11,277 12,402
Paint oils §
do _..
16, 733
8,159
10,708 12,136
9,841
20, 527
9,382 10. 755
6,943
64, 242
All other vegetable oils§
do.-.
58,999 77, 298 87, 302 48, 319 87,894 80, 878 69, 625 76,121 40,343 52,191
60,183
74, 731
Production (quarterly)
mil. oflb
583
832
593
1,062
Stocks, end of quarter:
732
661
860
Crude
do..
783
Refined
do...
523
760
759
653
Copra:
Consumption, factory (quarterly) .short tons
52,114
59,473
49, 469
55,482
Imports
do.-.
22, 449 17,491
22,630
7,533
17,222
28, 658
48, 863
19, 928
3,773
31, 790
20,880 12.514
Stocks, end of quarter
do...
35,816
13,881
36,081
35,160
Coconut or copra oil:
Consumption, factory:
154, 408
143, 265
Crude (quarterly)
thous. oflb
137, 891
150,528
Refined (quarterly)
do._.
64,957
53, 074
52, 359
58, 660
1,841
In oleomargarine
do
5,295
4,729
2,129
3,113
3,428
2,167
2,154
2,964
1,559
1,763
2,051
1,972
26, 240 29,122 41, 370 22, 889 38,450 37, 556 21, 215 32,898 10, 988
Imports§
do.
34,744
34, 899
26, 686
17, 774
Production (quarterly):
61, 949
Crude
do.
75, 457
66, 388
69, 478
Refined
do.
75,064
70,338
68, 213
73, 725
Stocks, end of quarter:
202, 322
197, 485
Crude
do.
226, 894
178, 382
Refined
do.
13,735
12,315
12,100
11, 883
Cottonseed:
425
372
Consumption (crush)...thous. of short tons_.
524
100
712
389
258
70
151
203
643
521
509
150
103
Receipts at mills
do
76
46
1,141
1,165
118
60
51
227
664
384
155
522
Stocks at mills, end of month
do
337
194
139
1,266
789
519
121
196
813
1,287
1,162
796
Cottonseed cake and meal:
141
189
506
2,335
Exports
short tons..
389
675
1,318
81
124
46
1,403
343
216
Production
do
194, 046 172, 401 177,171 120, 555 94,441
45, 329 33,119 68, 229 232, 352 320, 927 288,050 228, 458 235, 367
Stocks at mills, end of month
do
124,374
119,718
197,618
206,931
219,
794
200,173 244, 479 195, 092 175, 454 172,968 150, 846
97, 085
216, 565
Cottonseed oil, crude:
Production
thous. of lb_. 139, 443 117,924 126, 679 85, 240 68, 522 34, 328 22, 622 45, 355 162,480 220, 362 201, 656 159, 870 166,038
201, 233 179,569 171,279 155, 524 137, 822 89, 096 72,067 62,000 110, 701 156, 874 184,062 181, 235 200,881
Stocks, end of month
do
Cottonseed oil, refined:
285, 230
272, 970
354,226
Consumption, factory (quarterly)
do
334, 392
9,678
9,034
8,689
9,701
In oleomargarine
do
10, 200
9,412
7,484
6,781
5,522
6,986
10,077
8,779
6,708
Price, summer, yellow, prime (N. Y.)
.069
.067
dol. per lb_.
.066
.065
.061
.066
.055
.071
.065
.069
.069
Production
thous. oflb.. 126,190 113, 379 127, 358 98, 577 82,476
78, 548 41,107
54,666 93,924 163,315 163,052 157, 221 140,379
627, 482 637, 636 642, 349 658,956 641,031 616, 859 560,035 494,718 411, 791 433,637 490, 215 553,176 586, 632
Stocks, end of month
do
r
Revised.
*New series. Data are on basis of potassium oxide content; figures beginning 1928 not shown on p. 39 of the August 1939 Survey will appear in a subsequent issue.
§Revised series. Data for 1937 revised, see tables 19 and 20; pp. 14 and 15, of the April 1939 Survey.
40
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey
ary
April 1940
1939
February
March
April
June
May
July
1940
August
September
October November
December
January
CHEMICALS AND ALLIED PRODUCTS—Continued
OILS, FATS, AND BYPRODUCTS—Con.
Vegetable Oils a n d Products—Continued
Flaxsecd:
.thous. of bu_
Imports^
Minneapolis:
Receipts
do
Shipments
do—
Stocks
do
Duluth:
Receipts
do
Shipments
do
Stocks
do___.
Oil mills (quarterly):
Consumption
-do
Stocks, end of quarter
do
Price, wholesale No. 1 (Mpls.)
dol. per bu_.
Production (crop est.)
thous. of bu_.
Linseed cake and meal:
Exports§
do—
Shipments from Minneapolis...
do___.
Linseed oil:
Consumption, factory (quarterly)
do
Price, wholesale (N. Y.)
dol. per lb_.
Production (quarterly)
thous. of lb_.
Shipments from Minneapolis
do___.
Stocks at factory, end of quarter
do....
Oleomargarine:
Consumption (tax-paid withdrawals)._.do
Price, wholesale, standard, uncolored (Chicago)
dol. perlb_.
Production
thous. of lb.._
Vegetable shortenings:
Price, wholesale, tierces (Chi.)...dol. per lb..
PAINT SALES
Plastic paints, cold-water paints, and calcimines:
Plastic paints
thous. of dol..
Cold-water paints:
In dry form...
do—
In paste form
do—
Calcimines
do—
Paints, varnish, lacquer, and fillers:
Total
do....
Classified, total
do....
Industrial
do....
Trade
do....
Unclassified
do—
2,248
2,031
1, 416
1,155 i
139
119
2,151
30
452
62
64
319
35
58
283
61
38
280
2
12
31
1
0
111
1
82
29
1
29
2
2.14
1.92
7,112
2,521
1.97
50,068
14, 200
50,180
5,720
.102
.085
1,763
17, 219
7,920
76,674
.088
139, 209
7,200
161, 251
1,802 1,123
1,511
452
875
682
623
1,058
67
28
231
8.100
389
2,659
2,709
648
5,456
679
367
5,154
318
428
4,059
269
104
3,616
153
130
2,720
58
2
801
144
659
2,032
1,170
1,521
948
1,360
1,109
541
566
1,084
145
1,178
51
26
35
42
1.57
1.54
6,814
6,383
1.75
44, 589
6,360
50,163
16,400
40, 600
23, 280
.090
.086
73
20
225
41
59
6,207
1,958
1.81
50,396
8,280
40,849
7,280
.089
.089
'"9," 780"
"6,"4§6"
48, 733
7,000
91,360
.093
124, 823
6,360
130,310
0)
88,397
.099
134,326
14, 700
112, 475
8,736
1.84
14,529
19, 720
30,914
21,480
.102
.098
b
2.07
20, 330
2.18
52, 765
21,320
18,453
21,440
88,768
.102
166,150
8,820
142,643
.107
"16," §66"
~3~966'
28,474
27,774
29,032
23, 622
22, 827
20, 745
20,114
21,206
27,918
23, 676
27,719
25,737
29,409
.120
29,474
.140
27, 701
.140
29,417
.140
23, 325
.135
22, 699
.135
21,111
.135
19, 262
.135
21, 608
.124
28,105
.123
23, 785
.128
27,886
.120
25, 587
.120
29,354
.100
.091
.095
.093
.093
.090
.090
.089
.104
.104
.099
.099
.100
"§,"166"
"I5,"666" ~I6,~680~
"l6~38O
42
33
44
46
45
43
46
49
40
133
264
186
144
219
251
187
316
280
210
317
282
230
338
305
206
309
281
156
227
206
154
287
255
171
289
279
179
270
233
153
206
213
159
277
203
140
252
205
25, 536
18,806
8,920
9,887
6,729
24,415
17,395
7,982
9,413
7,021
31, 555
23,003
9,626
13, 377
8,551
32,666
23, 830
9,469
14, 360
8,836
40,138
28, 546
9,611
18,935
11, 592
36, 886
26,197
9,781
16,416
10, 690
29, 472
20, 769
8,199
12, 569
8,703
33,087
23,413
9,309
14,104
9,674
36,960
25, 515
10,420
15,095
11,445
34, 540
24,995
10,976
14,020
9,544
29,396
21, 772
10, 234
11,538
7,624
25,934
19, 333
9,409
9,924
6,602
27, 665
20,456
9,991
10,465
7,210
186
1,016
918
257
1,049
977
342
1,315
1,171
287
1,116
950
249
1,036
940
297
957
1,000
221
979
847
326
1,069
1,065
328
1,164
1,156
311
1,315
1,232
346
1,361
1,244
271
1,089
1,199
271
1,239
1,081
7
637
655
1,014
14
1,078
1,029
12
508
522
10
491
509
446
378
561
537
7
1,041
815
7
706
677
14
713
684
10
725
793
14
987
1,030
857
751
972
878
871
770
963
810
736
600
782
704
795
703
645
604
1,034
967
1,312
1,153
1,410
1,333
1,199
1,119
1,183
1,135
1,177
1,024
1,410
374
391
645
2,910
692
891
1,327
3,289
785
1,150
1,355
2,714
720
1,057
938
2,887
831
1,058
2,633
737
926
970
3,923
1,115
1,176
1,632
3,867
1,125
1,289
1,453
4,611
1,291
1,520
1,800
2,486
632
810
1,044
1,546
408
447
691
1,137
314
285
538
32
CELLULOSE PLASTIC PRODUCTS
Nitro-cellulose, sheets, rods, and tubes:
Consumption*
thous. oflb.
Production 1
do...
Shipments d ..
do...
Cellulose-acetate sheets, rods, and tubes:
Consumption*
thous. oflb.
Production..
.._.
do...
Shipmentsd"
do...
Moulding composition:*
Production
do...
Shipments^
do...
ROOFING
Asphalt prepared roofing, shipments:
Total
thous. of squares.
Oritroll
do...
Shingles (all types)
do...
Smooth roll
do...
ELECTRIC POWER AND GAS
ELECTRIC POWER
9,654
10, 341
10, 529
10,651
10,567
9,955
11,864
Production, totalj.
mil. of kw.-hr__ 11,107
11, 228
11,659
12,077 12,252
11,116
By source:
7,179
7,922
5,562
5,828
6,116
6,176
6,743
7,701
7,997
8,727
8,455
8,891
'9,065
Fuel
u°
3,185
3,472
3,786
3,826
4,450
4,393
4,165
3,527
3,204
3,138
3,187
'3,186
3,118
Water power.
do
By type of producer:
Privately and municipally owned public
9,321
9,820
9,846
10,329
9,900
9,043
10,260
10,974
10, 736
11,151
11,262
utilities
mil. of kw.-hr__ 10, 258
709
611
634
667
655
900
856
890
922
926
'990
Other producers
do
Sales to ultimate consumers, totalf (Edison
8,324
8,240
8,282
8,577
8,583
8,953
9,274
9,640
8,398
9,678
9,760
Electric Institute)
mil. of kw.-hr_.
1,604
1,700
1,627
1,620
1,815
1,620
1,719
1,782
1,755
1,890
2,000
Residential or domestic
do
5,867
6,169
6,187
5, 704
6,526
5,615
5,751
6,951
6,876
6,669
6,786
Commercial and industrial
do
134
121
111
166
115
159
128
169
149
188
203
Public street and highway ltg
do
194
194
192
197
193
202
202
229
224
201
205
Other public authorities.
do
441
461
433
524
473
493
443
479
492
446
Sales to railroads and railways
do
532
36
41
39
35
32
42
35
30
32
Interdepartmental.
--.
do
32
33
J
h
' Kevised.
Less than 500 bushels.
December 1 estimate.
•New series. For data on nitro-cellulose consumption, cellulose-acetate consumption and molding compositions beginning 1935, see table 15, p. 18, of the March 1939 Survey.
fRevised series. For electric power sales, see note marked with a "f" on p. 41 of the July 1939 Survey.
§Revised series. Data for 1937 revised; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.
cflncludes consumption in reporting company plants.
^Excludes consumption in reporting company plants.
IFor electric power production, see note marked with a ll1[" on p. 41 of the July 1939 Survey. Revised data on production "by type of producer," referred to therein, are
shown beginning June 1938 on p. 40 of the August 1939 Survey; data beginning 1920 will be published when available.
41
SURVEY OF CURRENT BUSINESS
April 1940
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
1940
February
February-
March
April
May
June
1940
July
August
September
DecemOctober November
ber
January
ELECTRIC POWER AND GAS—Continued
ELECTRIC POWER—Continued
Revenues from sales to ultimate consumers
(Edison Electric Institute)
thous. of doL.
190, 219 186, 714 185, 987 183,112
186,166
186, 600 189, 225 198, 947 201, 709 204, 974 208, 514
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___
Indl., coml., and elec. generation
do-..
Revenues from sales to consumers
thous. of doL
Domestic
do...
IndL, coml., and elec. generation
do__.
9,914
9,225
219
461
33, 662
16, 687
8,004
8,785
9,907
9,218
210
467
33, 600
16, 647
7,122
9,641
9,894
9,197
218
467
32, 626
16, 242
6,074
10,144
9,285
224
466
30, 303
15, 755
4,421
9,969
9,979
9,290
214
465
27,917
16, 600
1,587
9,606
9,995
9,316
202
466
25, 652
15, 541
948
9,007
10, 016
9,336
206
464
24, 879
14, 702
756
9,305
10,081
9,388
221
463
26,828
16, 367
876
9,461
10, 090
9,383
244
453
29, 893
17,116
2,389
10, 227
10,078
9,363
256
450
33, 002
15, 352
6,948
10, 520
32, 811
21,038
5,429
6,227
32,450
21, 054
4,902
31, 586
21, 252
3,840
6,368
30, 707
21,845
2,519
6,231
29, 561
22, 253
1,232
5,990
27, 662
21,105
788
5,683
26, 606
20,121
663
5,731
28, 615
21, 786
837
5,909
30, 786
22, 513
1,848
6,318
32, 230
21, 566
3,863
7,163
7,194
7,178
7,190
6,615
6,626
6,655
6,636
549
533
546
555
134, 515 127, 377 113, 379 101, 438
51, 291 46, 791 36, 510 27, 415
81, 770 79, 303 75, 485 72, 5S1
7,163
6,650
510
87, 413
18,862
67, 378
7,152
6,651
499
86, 376
16,013
69, 210
7,191
501
88, 739
15,015
72, 233
7,232
7,298
7,424
7,468
6,767
6,727
6,850
6,882
529
572
503
584
92, 700 102, 572 116, 966 128, 587
15, 491 19, 414 30, 679 41, 075
75,835 81, 748 84, 689 86, 215
28, 559
15,197
13,193
26, 235
13,011
13,035
26, 278
12, 465
13, 597
26,855
12,433
14, 221
31,066
14,967
15, 895
39, 022
21, 217
17, 563
45, 923
26, 927
18, 777
3,685
3,826
7,696
3,588
3,916
7,191
51,197
32, 619
18, 331
47,979
30, 218
17, 520
41, 034
24,845
15,958
34, 644
19, 873
14, 550
10,116
9,390
266
451
35, 544
15, 747
8,822
10, 750
33, 781
21, 698
5,136
6,812
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:
Production
thous. of bbl__
3,478
Tax-paid withdrawals
do
3,238
8,000
Stocks
do
Distilled spirits:
Production
thous. of tax gal.. 11, 846
Tax-paid withdrawals
do
7,928
Imports*
thous. of proof gaL.
623
Stocks
thous. of tax gaL. 514, 505
Whisky:
9,599
Production
do
6,616
Tax-paid withdrawals
do
534
Imports*
thous. of proof gaL _
Stocks
thous. of tax gaL. 470, 519
Rectified spirits and wines, production, total
thous. of proof gal..
Whisky*
do.._.
Indicated consumption for beverage purposes:
All spirits*!
thous. of proof gal__
Whisky*t
do.—
Still wines:
Production*
thous. of wine gal..
Tax-paid withdrawals*
.do
233
Imports*
do
Stocks*
do
Sparkling wines:
Production*
do
Tax-paid withdrawals*
do
24
Imports*
do
Stocks*
do
3,482
3,031
7,774
4,497
3,822
8,265
4,641
3,985
8, 746
5,651
5,079
6,271
5,656
9,447
5,637
5,538
9,330
5,450
5,715
4,392
4,921
8,112
4,237
4,169
7,994
10, 700
6,112
676
513,462
13,022
8,566
831
516, 755
10,940
7,593
776
519,162
10, 756
845
521, 251
8,304
6,456
772
522,058
5,381
5,605
632
520,429
6,390
6,663
710
518,487
10,244
8,772
1,843
514,433
17,946
11,066
1,113
510,606
14, 921 11, 553 12, 506
13, 485
9,400
6,517
1,058
1,501
716
506, 894 508, 205 512, 394
8,724
4,996
582
472,934
9,993
6,791
706
475,150
8,513
5,728
678
477,136
7,972
4,866
730
478, 741
5,774
4,885
666
478,900
3,711
4,343
534
477,149
4,392
4,985
5,098
6,793
612
1,599
475, 371 472,499
7,074
8,550
959
469,173
8,946
8, 033 10, 021
10, 385
7,704
5,500
912
1,298
582
465,934 465, 018 469, 004
2,683
2,192
3,817
3,078
3,670
2,800
3,425
2,496
1,977
2,930
2,014
3,189
2,332
4,005
3,258
5,202
4,329
7,743
6,816
10, 771
9,357
9,775
8,122
9,137
7,142
8,699
6,767
7,570
6,131
8,709
7,104
11,959
10, 309
13, 703
12,007
1,678
5,022
194
117,060
1,026
5,883
292
111, 279
1,003
5,171
310
105, 754
1,103
4,994
229
100,941
677
4,684
207
94, 842
914
4,247
154
91,048
5,211
5,053
152
87,127
9
11
19
546
25
13
22
558
43
13
26
587
70
17
37
639
25
36
647
19
20
20
646
16
21
26
639
21
34
84
625
27
50
59
597
6,341
5,532
4,002
3,249
3,788
2, 930
7,926
2,679
2, 078
16, 266 12, 390
8,378
7,243
14, 508 10, 870
8,134
44, 293 105, 599 35, 895
2,773
8,011
9,109
6,195
8,624
5,912
370
420
379
424
304
99, 817 139,099 142, 721 133, 916 127, 936
36
56
80
576
48
101
130
511
31
25
34
512
DAIRY PRODUCTS
Butter:
Consumption, apparent!
thous. of l b . . 136,093 139,525 153,186 152,961 180,150 152,862 145, 612 157, 235 152, 571 147,955 150, 337 152, 706 152,152
.23
.24
.26
.24
.24
.28
.29
.30
.32
.30
.24
.24
.30
Price, wholesale 92-score (N. Y.)..dol. per lb_.
Production, creamery (factory)f.thous. of lb._ 124,265 121,065 139, 331 145,123 193, 701 200,135 179, 275 164,960 134, 515 121, 595 112, 285 118, 430 126, 040
69,674
49,
357
51,
276
84,
566
45,197
53,955
77,966
55,
208
45,
775
53,
743
60,091
77,
460
Receipts, 5 markets^
do
Stocks, cold storage, creamery, end of month
r
55,
462
172,825
154,
594
92,
780
70,909
131,
609
165,183
128,
111
89,
783
29,189
18,
278
78,909
84,437
thous. of lb._
Cheese:
57 401 r 57,879
70,249
47, 990 58, 360
62, 356
64,704
77, 595
57, 671 61, 789 71,492 67, 744 51,037
Consumption, apparent!
do
3,435
6,344
3,478
3,927
4,353
3,781
5,762
11, 637
3,339
2,959
4,425
4,881
3,134
Imports
do
Price, wholesale, No. 1 Amer. (N. Y.)
.18
.14
.15
.15
.18
.18
.18
.14
.14
.14
.17
.15
.18
dol. per lb._
54, 600
65,920
40, 660 41, 200
37,992
47, 775
77, 300
86,170
57,400 54,400
73,400
42,300
Production, total (factory) f
thous. of lb_. 43,000
41,145
52,420 45, 075 41,310
28, 600 30, 440
34, 281
60, 640
68, 320 58,400
32,780
27,175
30,145
American whole milkf
do
11,157
9,981
11, 960
14,402
14, 322 13, 786 14, 579 16, 527 15,145
10, 866
13, 261
11,492
10, 614
Receipts, 5 markets
do
81, 653
79, 272
98,850 117, 598 125,019 116, 561 114, 736 112, 217 108, 241 r 94, 295
82, 684
75, 345
91, 485
Stocks, cold storage, end of month
do
103,
594
93,
987
86,
805
68,812
64,
750
81,
262
97,
530
97,448
66,
594
'
75,181
90,
219
77,
270
American whole milk
do
Condensed and evaporated milk:
Exports:
142
195
121
91
148
194
364
145
154
353
306
215
276
Condensed (sweetened)
thous. of lb_.
1,799
1,710
2,508
2,338
1,976
3,715
1,876
2,809
1,785
3,414
2,501
2,007
2,615
Evaporated (unsweetened)
_ _. do
Prices, wholesale (N. Y.):
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
Condensed (sweetened)
dol. per case._
2.90
3.10
2.90
2.90
2.90
3.10
2.90
2.90
2.90
3.10
3.10
3.10
2.90
Evaporated (unsweetened)
do.
r
Revised.
§See note marked with a "t" on p. 41 of the June 1939 Survey.
*New series. Earlier data for the new series on alcoholic beverages appear in tables 2-8, pp. 15-18 of the July 1939 Survey.
fRevised series. For 1937 revisions in consumption and production of butter, consumption of cheese and production of American cheese, see p. 41 of the December 1938
issue; 1938 revisions not shown in the December 1939 Survey will appear in a subsequent issue. For total production of cheese see table 50, p. 17 of November 1939 issue;
figures shown there are correct except for 1938 revisions shown in the footnote indicated by a "f" on p. 41 of the December 1939 Survey. Data for production and consumption
of butter and cheese are preliminary for 1938-39. Total indicated consumption for beverage purposes of all spirits and whisky revised in their entirety; revisions not shown,
on p. 41 of the October 1939 Survey will appear in a subsequent issue.
JFor comparable monthly figures beginning 1919, see table 14, p. 17, of the March 1939 Survey.
42
SURVEY OF CUEEENT 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
1940
February
April 1940
February
March
April
May
June
July
1940
August
January
September
DecemOctober November
ber
0)
0)
0)
3,479
143, 988
2,354
125, 529
2,228
135. 530
2,817
158, 656
0)
FOODSTUFFS AND TOBACCO—Continued
DAIBY PRODUCTS—Continued
Condensed and evaporated milk—Continued.
Production:!
Condensed (sweetened):
Bulk goods
thous. of lb-_
0)
Case goods
do
3,370
Evaporated (unsweetened)
do
170, 397
Stocks, manufacturers' end of month:
Condensed (sweetened):
Bulk goods
thous. of lb._
0)
4,579
Case goods
do
Evaporated (unsweetened), case goods
thous. of lb-_ 150, 458
Fluid milk:
5,761
Consumption in oleomargarine
do
2.25
Price, dealers', standard grade* dol. per 100 l b . .
Production (Minneapolis and St. Paul)
thous. of lb._
Receipts:
Boston (incl. cream)
thous. of qt_.
116,518
Greater New York (milk only)
do
Powdered milk:
158
Exports§___
thous. of lb._
26,463
Productiont
do
23, 967
Stocks, mfrs., end of mo.J
do
11,505
3,036
137,882
15, 408
3,075
181, 094
15, 420
3,283
202, 090
22, 007
2,899
262, 957
21,059
2,755
265, 586
16, 615
2,894
223, 953
16,817
2,461
194,162
15,170
4,398
159, 880
7,202
4,985
5,809
4,959
6,135
4,608
7,910
6,437
11,416
7,764
12, 504
8,570
10, 986
8,001
7,741
6,039
0)
0)
0)
0)
6,312
5,990
5,627
4,702
120, 397
109,882
134, 625
209, 044
292, 393
341, 686
355, 071
135,135
5,422
2.21
5,861
2.20
4,561
2.15
4,498
2.11
4,112
2.10
3,870
2.10
4,315
2.12
5,297
2.15
175, 646
4,538
2.19
188, 290
5,337
2.22
186, 081
4, 988
2.25
5,696
2.25
34,829
40, 237
39,031
44,144
41,873
34, 051
28, 599
25, 226
26, 043
28, 215
33, 548
37, 624
12,681
112, 501
13, 906
125, 570
13, 322
121, 682
14, 648
132, 670
13, 897
134, 712
14, 947
129,851
15, 375
127,178
13, 258
122, 715
13, 883
128, 697
13, 858
121, 848
12,889
123, 192
12, 999
121, 550
519
22,890
32, 318
28, 233
30,972
31,190
32,102
1,069
38, 877
31, 982
739
38, 572
25, 861
637
29, 079
27, 613
798
23, 566
18, 298
823
22, 432
11, 963
798
20, 782
8,449
544
20, 225
7,548
573
24, 544
11,044
4,912
4,785
4,848
3,055
2,053
976
1,007
971
4,833
10, 216
7,794
MOO 234
5, 057
4,799
14, 334
1.814
5,079
18, 444
2,184
3,046
22, 939
2,380
1,569
20, 387
3,094
555
17, 683
3,383
0
16, 426
2,147
0
10, 853
1,111
0
9,154
1,668
3,366
7,203
3, 343
10,102
11,852
3,132
10, 329
13, 718
1,988
8,733
17, 508
1,612
1.875
1.519
1.375
1.800
1.680
1.575
1.813
1.295
1.588
1.700
1.806
17, 979
17, 343
25, 317
18, 983
22, 833
23, 930
11, 541
7,658
12,171
15,118
12, 441
1.850
'350, 992
12, 095
18,615
10, 204
15, 521
15, 435
11, 368
16,372
6,600
8,389
10, 830
8,372
11, 281
5,709
8, 374
8,332
358
724
436
124
614
206
265
713
709
153
399
248
.55
.57
.55
.55
.54
.56
.51
.57
.55
.56
.53
.60
.45
.47
.46
.48
.55
.58
.53
.55
.52
.54
5,645
16,079
3,846
11, 726
5,967
10,182
4,579
8,874
4,474
5,745
3,793
6,210
4, 831
8, 253
20, 062
16,904
13, 546
19, 421
8,744
20, 398
6,732
20,106
.55
.58
'276, 298
7,307
18, 614
7,161
17, 333
5,796
5,815
2,721
5,256
3,798
5,780
1,663
5,798
1,207
6,510
267
5,945
1,121
4,929
1,855
8,094
5, 580
'8, 583
1,266
'6, 695
5, 324
6, 3S6
5,274
5,994
.59
.66
.46
.51
.46
.51
.47
.52
.57
.50
.59
.53
.60
.56
.62
.59
.67
.57
2,619,137
21, 923
9,469
45, 851
12,611
8,125
42, 307
156, 253
r
r
492
27, 870
17, 946
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
thous. of bu__
Shipments, carlotf
no. of carloads..
Stocks, cold storage, end of month
thous. of bbL.
Citrus fruits, carlot shipmentsf-no. of carloads._
Onions, carlot shipments!
do
Potatoes, white:
Price, wholesale (N. Y.)dol. per 1001b_.
Production (crop estimate)
thous. of bu_.
Shipments, carlott
no. of carloads_.
4,933
<• 6, 769
18, 850
2, 453
1.925
GRAINS AND GRAIN PRODUCTS
Exports, principal grains, incl. flour and meal§
thous. of bu._
Barley:
Exports, including malt
do
Prices, wholesale, No. 2 (Mpls.):
Straight
dol. per bu__
Malting
do
Production (crop estimate)
thous. of bu_.
Receipts, principal markets
_do
Stocks, commercial, end of mo
do
Corn:
Exports, including meal
do
Grindings
do
Prices, wholesale:
No. 3, yellow (Chicago)*
dol. per bu._
No. 3, white (Chicago)
do
Weighted average, 5 markets, all grades*
dol. per bu._
Production (crop estimate)
thous. of bu-_
Receipts, principal markets
do
Shipments, principal markets
do
Stocks, commercial, end of mo
do
Oats:
Exports, including oatmeal
do
Price, wholesale, No. 3, white (Chicago)
dol. per bu-.
Production (crop estimate)
thous. of bu._
Receipts, principal markets
do
Stocks, commercial, end of mo
do
Rice:
Exports§
pockets (1001b.)..
Imports!
do
Price, wholesale, head, clean (New Orleans)
dol. per R^Production (crop estimate)
thous. of b u . .
Southern States (La., Tex., Ark., and Tenn.):
Receipts, rough, at mills
thous. of bbl. (1621b.)..
Shipments from mills, milled rice
thous. of pockets (100 lb.) .
Stocks, domestic, rough and cleaned (in
terms of cleaned rice) end of month
thous. of pockets (100 lb.)..
California:
Receipts, domestic rough
bags (100 lb.)._
Shipments from mills, milled rice
do
Stocks, rough and cleaned
(in terms of
cleaned rice), end of mo. _ .bags (1001b.)-Rye:
Exports, including
flour
thous. of bu._
Price, wholesale, No. 2 (Mpls.)..dol. per bu._
Production (crop estimate)
thous. of bu._
Receipts, principal markets..
do
Stocks, commercial, end of mo
do
r
(c)
.50
)
.55
.58
.47
.47
.49
.52
.51
.46
.56
.50
.51
13,126
7,777
40, 575
10, 216
5,398
47, 489
13, 085
8,473
43, 745
12, 562
8,656
39, 262
23, 333
20,170
34, 568
17, 381
17, 042
30, 880
11,864
12,759
23,145
12, 077
14,192
22, 655
11, 584
14,947
31, 609
13,135
27, 541
26, 723
15,893
38, 202
154
130
b
.59
114
112
61
133
162
117
81
72
.31
.32
.34
.34
.29
.30
.36
.35
.39
.42
93
4.926
7,867
4.304
14, 649
5,769
12, 601
4,461
10, 312
6,303
6,784
4,540
5,695
6,673
5,551
18, 625
14, 681
12, 528
16,104
6,261
14, 552
5,632
13,199
.41
>937, 215
4,756
12,054
316, 774
23, 636
302, 302
41, 296
302,102
67, 608
274,893
90,116
283, 341
84,857
241, 755
75, 647
220, 315
83, 257
216, 072
70, 691
381, 765
37, 528
304, 543
8,568
58,365
107,179
32,127
247,142
19,072
.039
.033
.033
.033
.033
.033
.033
.033
.040
.038
.037
.038
52, 306
.039
545
428
681
180
390
1,805
2,360
1,375
679
1,064
938
802
1,024
912
758
972
1,146
1,122
1,083
857
982
1,108
6
4,327
1,129
3,017
3,586
3,244
2,894
2,595
2,092
1,552
1,706
3,029
3,410
3,282
3,079
154, 940
91, 480
169,184
118,478
229, 760
143, 617
160, 345
136, 287
203, 447
144, 414
197, 332
97, 767
270,965
130, 025
486, 207
174, 422
497, 338
224, 541
354, 776
123, 603
167, 793
65, 521
89. 892
68, 417
97, 273
140,976
437, 830
375, 056
350, 435
301, 497
264, 633
258, 494
268, 269
389, 027
466,045
544, 057
574, 503
545, 331
458, 505
a
a
(a)
.43
0
.42
( )
.53
1
.52
0
.51
88
.70
1,470
7,708
3,455
9,246
3,160
9,857
85
.67
39, 249
2,070
10, 540
79
.67
)
.45
1,455
10,120
7,637
b
( )
.43
( )
.43
1,241
7, 630
795
7,153
1, 045
6,813
1, 955
7,384
c
a
2,053 I
10,577 I
1,295
9,954
b
1, 768
10, 212
Revised.
° Less t h a n 500 bushels.
December 1 estimate.
No quotation.
' D i s c o n t i n u e d b y r e p o r t i n g source.
* R e p r e s e n t s commercial p r o d u c t i o n o n l y ; total p r o d u c t i o n is n o t available.
JFor c o m p a r a b l e m o n t h l y figures beginning 1918, see t a b l e 13, p . 17 of t h e M a r c h 1939 issue.
*New series. D a t a for price of m i l k b e g i n n i n g 1922 a n d average price of corn beginning 1918 a p p e a r in tables 38 a n d 39, p . 18 of t h e A u g u s t 1939 S u r v e y . D a t a on wholesale price of corn, Chicago, are s h o w n in t a b l e 20, p . 18 of t h i s issue.
fRevised series. F o r revisions in condensed a n d e v a p o r a t e d m i l k p r o d u c t i o n in 1937, see p . 41 of t h e D e c e m b e r 1938 S u r v e y ; 1938 revisions n o t s h o w n in t h e D e c e m b e r
1939 S u r v e y will a p p e a r in a s u b s e q u e n t issue. Revisions for 1938 for carlot s h i p m e n t s n o t s h o w n in t h e D e c e m b e r 1939 S u r v e y will a p p e a r in a s u b s e q u e n t issue.
§ Revised series. D a t a revised for 1937; see tables 19 a n d 20, p p . 14 a n d 15 of t h e April 1939 issue.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
43
SUEVEY OF CUERENT BUSINESS
April 1940
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1933 Supplement to the Survey
ary
February
March
April
May
June
1939
1940
July
Decem- JanuSepOctober NovemAugust tember
ber
ary
ber
FOODSTUFFS AND TOBACCO—Continued
GRAINS AND GRAIN PRODUCTS-
Continued
Wheat:
Exports:
Wheat, including flour§ _thous. of bu_.
Wheat only§
do
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
thous. of bu_.
Spring wheat
_
do
Winter wheat
do
Receipts, principal markets
do
Shipments, principal markets
do
Stocks, end of mo. world est
do
Canada (Candian wheat)
do
United States, total*
do
Commercial
do
Country mills and elevators*
do
Merchant mills*
do
On farms*
do
Wheat flour:
Consumption (Russell-Pearsall)
thous. of bbl_.
Exports§
do
Grindings of wheat
thous. of bu_.
Prices, wholesale:
Standard patents (Mpls.)
dol. per bbl_.
Winter, straight (Kansas City)
do
Production:
Flour, actual (Census)
thous. of bbl..
Operations, percent of capacity
Flour (Russell-Pearsall)
thous. of bbl..
Offal (Census)
thous. of lb_.
Stocks, total, end of month (Russell-Pearsall)
thous. of bbl..
Held by mills (Census)
do
3,816
1,430
11, 946
8,782
1.04
1.06
.99
1.01
.78
.73
11,423
7,403
292,090
9,512
9,251
412, 390
143, 045
110,761
95,474
508
36, 400
9,089
673
35,447
5.66
4.73
4.95
3.66
8,025
56.4
7,757
57.0
8,512
625, 888
0)
630,066
.71
5,300
11,087
8,487
.771
.731
.71
9,468
5,874
14,489
10,672
6,033
3,929
7,414
2,977
8,935
5,903
5,675
2,530
.78
.76
.70
.72
.84
.73
.71
.75
.78
.69
.67
.76
.93
.83
.76
44,016
14,423
318,340
r
97,835
295,026
81, 334
38, 291
85,029
90, 372
99,006
30,840
13, 748 16,000
11,113
11,174
379,820 359, 730
139,065 134,085
445,422
82,687 74,851
91,846
82, 481
188,408
25, 525
16, 851
319,890
112,987
553
41,068
8,201
765
37, 698
8,549
812
39,066
4.79
3.54
4.87
3.47
8,951
8.244
56.0 1 55.7
9,142
8,916
730, 612 665,468
5,200
3,865
5,150
.65
.72
.90
43, 924
22, 791
38,995
24,495
4,629
1,701
4,173
1,452
2,485
597
2,650
608
.91
1.03
1.04
1.05
1.05
1.01
1.02
.83
19, 799
16,856
(0
12,190
14,936
1.00
'754,971
191, 540
'563, 431
11, 510
13,086
9,390
8,834
0)
89, 281
0)
135,793
0)
335, 367
316, 296
149, 372
166, 289
274,841
800, 519
161, 987
162, 542
137,332
151,015
141,986
8,783
448
38,927
8,003
944
38,833
9,552
645
43, 746
11,279
669
51,101
9,946
623
43,025
7,944
579
37, 770
6,074
402
36,848
434
39,323
5.23
3.60
5.16
3.58
4.74
3.41
4.90
3.36
5.76
4.36
5.58
4.20
5.70
4.28
6.17
5.01
6.02
4.80
8,516
55.4
9,311
693, 372
8,440
55.0
9,293
699, 737
8,432
57.4
9,063
689, 557
9,522
60.3
10, 347
772, 787
11,191
75.9
12,148
890, 697
9,428
61.5
10, 779
752,851
56.3
8,929
655,454
8,119
55.0
8,523
635,415
8,649
56.3
9,243
682, 637
5,100
5,000
3,641
5,150
5,300
5,500
4,058
5,710
5,625
64,178
0)
(0
0)
310,855
614, 904
132,842
128,846
114, 231
238,985
301,434
119,001
6,475
5,165
LIVESTOCK
Cattle and calves:
1,912
1,404
1,764
2,117
2,438
1,476
1,667
Receipts, principal markets-thous. of animals.. 1,247
1,737
1,565
1,294
1,467
1,542
Disposition:
972
1,019
1,124
963
833
934
Local slaughter
do_.
952
1,068
971
869
997
810
807
795
1,074
1,270
973
572
664
Shipments, total
do_.
647
546
579
548
433
496
581
242
743
549
273
375
546
Stocker and feeder
do._
240
187
200
163
213
253
233
Prices, wholesale (Chicago):
9.22
10.23
9.87
9.63
9.68
9.30
9.09
9.59
Beef steers*
dol. per 1001b
10.29
10.02
9.46
10.17
10.68
10.07
9.86
9.66
9.26
10.00
Steers, corn fed
do__
10.59
9.53
10.53
11.44
10.44
11.36
11.22
11.09
10.78
9.75
10.03
9.66
9.13
Calves, vealers
do..
9.68
11.50
11.19
10.34
10.47
9.56
2,458
1,995
2,847
3,331
Receipts, principal markets, thous. of animals.. 2,922
2,105
2,007
3,772
2,410
1,948
2,205
1,996
1,971
Disposition:
1,825
2,177
2,482
Local slaughter
do.
1,822
1,535
1,451
1,458
2,074
1,509
1,394
2,753
1,654
1,398
617
665
Shipments, total
do.
575
560
550
534
849
546
841
547
485
566
1,007
40
Stocker and feeder
do.
43
36
39
37
35
45
43
38
44
47
48
Prices:
6.39
7.54
6.97
5.95
5.15
Wholesale, heavy (Chi.)....dol. per 100 lb__
6.03
5.75
4.93
6.91
5.25
7.30
7.66
6.68
Hog-corn ratio*
12.5
10.0
bu. of corn per cwt. of live hogs..
11.9
12.0
12.6
13.7
14.5
13.1
16.0
9.1
16.4
9.7
13.2
Sheep and lambs:
1,907
1,514
Receipts, principal markets, thous. of animals.. 1,424
2,392
2,607
1,993
1,711
2,042
2,625
1,766
1,546
1,728
1,951
Disposition:
1,075
944
Local slaughter
do
1,070
913
983
968
1,064
863
1,046
900
1,071
953
984
884
Shipments, total
do...
559
804
653
595
720
671
1,520
1,040
1,419
1,564
1,082
429
141
84
235
119
Stocker and feeder
do
82
110
167
693
261
504
613
251
Prices, wholesale (Chicago):
4.39
3.59
3.85
2.97
3.17
3.38
4.60
4.60
5.09
4.78
5.66
Ewes
dol. per 1001b.
4.38
9.00
9.25
7.93
9.07
9.38
8.60
8.60
Lambs
do...
8.54
8.66
9.36
8.84
8.85
MEATS
Total meats:
1,132
1,169
1,157
1,073
1,138
r 1, 273
1,105
1,053
1,156
Consumption, apparent
mil. of lb.
1,055
1,064
943
40
37
31
42
43
39
48
64
61
39
Exports*
do
30
37
42
1,285
1,162
1,083
1,065
1,214
1,127
1,033
1,037
1,482
955
Production (inspected slaughter)
do
927
1,067
1,410
562
749
452
1,092
761
699
573
478
977
784
758
758
Stocks, cold storage, end of month
do
808
68
65
69
66
104
106
59
58
63
63
Miscellaneous meats
do
95
Beef and veal:
Consumption, apparent
thous. of lb. 424,204 377, 363 450,183 402,876 479,125 452, 721 452,940 476, 716 503,357 494, 208 457, 231 438,167 481,410
2,042
1,546
1,269
1,531
1,114
1,525
1,767
1,036
1,401
1,325
710
841
1,047
Exports§
do...
Price, wholesale, beef, fresh, native steers
.150
.162
.159
.151
.166
.152
.166
.150
.166
.156
.173
.177
(Chicago)
dol. per lb.
.168
Production (inspected slaughter), thous. of lb. 415,207 368,125 439, 576 390, 623 466, 306 444, 337 445, 800 469, 534 495. 867 499,306 472, 202 445,234 475, 578
67,672
49, 242
76,974 ' 78, 573
34, 650
33, 591
33,456
33.027
36,917
Stocks, beef, cold storage, end of mo do
46, 404 40, 970
74, 678
Lamb and mutton:
55, 539
53,193
56.028
62,517
61, 608
58, 391
56, 791 r 67, 387
Consumption, apparent
do
53,010
56,147
51,198
58, 558 63, 777
62,147
59,088
Production (inspected slaughter)
do
55, 398
53,238
56, 599
63,030
56,281
50, 790
53,073
57, 555
67,132
58,452 63,451
3,499
4,187
Stocks, cold storage, end of month d o . . .
1,837
4,465
2,412
1,791
2,459
2,965
2,773
1,956
1,893
4,803
'4,412
Pork (including lard):
570,476 566, 926 547,518 605, 525 566, 582 613, 248 641,838 660,957 723,992
Consumption, apparent
do.._ 574,285 463, 239 550, 289
Exports, total
..do... 52, 815 32, 727 33,022 25, 591 36,990 37,403 42,223 33,028 33,848 25, 700 33,008 36, 308 56, 576
Lardf
d o . . . 25,133 24,483 22,157 17, 531 25, 303 22, 682 25,339 22,848 24,693 19,091 25, 706 18, 917 27,988
Prices, wholesale:
.206
.203
.203
.209
.185
Hams, smoked (Chicago)
dol. per lb.
.203
.207
.206
.176
.173
.200
.171
.200
Lard, in tierces:
.069
.065
.071
.070
Prime, contract (N. Y.)
do...
.067
.061
.060
.083
.067
.066
.067
.073
.070
.079
Refined (Chicago)
do_._
.075
.071
.075
.083
.073
.072
.081
.104
.078
.077
.081
.077
b
'Revised.
December 1 estimate.
i Temporarily discontinued; data not available since the outbreak of war.
*New series. For data on United States wheat stocks beginning 1923, see table 29, p. 17 of the June 1939 Survey. For data on hog-corn ratio beginning 1913, see table 33,
p. 18 of the June 1939 Survey. Data on exports of meats beginning 1913 appear in table 46. p. 16 of the November 1939 issue. For price of beef steers beginning 1913, see table
Digitized for 40,
FRASER
page 18 of the August 1939 issue.
tRevised series. Data on exports of lard revised for period 1913-37 to include neutral lard; revisions are shown in table 47, p. 16 of the November 1939 issue,
http://fraser.stlouisfed.org/
series. Data revised for 1937; see table 19, p. 14 of the April 1939 Survey.
Federal Reserve Bank of St. Louis
44
SUEVEY OF CURRENT BUSINESS
1940
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey.
ary
April 1940
1939
February
March
April
May
June
July
1940
Novem- Decem- JanuAugust September October
ber
ary
ber
FOODSTUFFS AND TOBACCO—Continued
MEATS—Continued
Pork (including lard)—Continued.
Production (inspected slaughter) total
thous. of l b .
Lard
do...
Stocks, cold storage, end of month
do.__
Fresh and cured
do...
Lard
do...
POULTRY AND EGGS
Poultry:
Receipts, 5 markets
thous. of l b .
Stocks, cold storage, end of month
do...
Eggs:
Receipts, 5 markets
thous. of cases.
Stocks, cold storage, end of month:
Shell
thous. of cases.
Frozen
thous. of lb.
TROPICAL PRODUCTS
Cocoa:
Imports
long tons..
Price, spot, Accra (N. Y.)
dol. per lb..
Coffee:
Clearances from Brazil, total—thous. 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 lb_.
Receipts:
From Hawaii and Puerto Rico
long tons..
Importsf
do
Stocks at refineries, end of months.do
Refined sugar (United States):
Exports
do
Price, retail, gran. (N. Y.)
dol. per lb_.
Price, wholesale, gran. (N. Y.)
do
Receipts:
From Hawaii & Puerto Rico__long tons...
Imports*
do
From Cubaf
do
From Philippine Islandsf
do—
Tea:
Imports
thous. of lb_.
Price, wholesale, Formosa, fine (N. Y.)
dol. per l b . .
Stocks in the United Kingdom._thous. of lb_.
MISCELLANEOUS FOOD PRODUCTS
Candy, sales by manufacturers^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 l b . .
Gelatin, edible:
Monthly report for 7 companies:
Production
do
Shipments
do
Stocks
do
Quarterly report for 11 companies:
Production
do
Stocks
do
906, 254
648, 225
258, 029
500, 769
90, 038
667, 419
542,138
125, 281
&63, 699
99, 442
652, 456
523, 204
129, 252
513,160
91, 858
656, 746
527, 213
129, 533
605, 478
106, 945
659, 587
520, 251
139/, 336
585, 804
106, 218
645, 173
496. 796
148, 377
534, 284
94, 453
594, 581
454, 766
139, 8i5
22, 671
144,743
16. 744
116, 229
17, 825
90, 987
16, 217
70, 568
24, 427
66, 796
28, 494
67, 470
27, 712
64, 918
25, 429
62, 870
2,065
2,311
1,589
1,161
967
1,017
1,649
510, 693 506, 341 600, 505
91, 676 88,611 102, 914
471, 310 379, 020 341, 393
360, 932 300, 226 272, 655
110, 378 78, 794 68, 738
29, 985
63,164
165
44, 476
1.105
60, 465
5,880
3. 357
88, 867 117,900
30,917
.0538
33, 297
.0460
43, 792
.0468
32, 052
.0448
28, 889
.0446
14,130
.0436
16, 093
.0433
23, 311
. 0438
13, 707
.0610
1,384
668
1,228
1,222
697
1,086
1,305
694
1,497
1,232
610
1, 017
1, 563
774
1,302
1,217
724
1,055
1,357
731
1,056
.056
1,319
.052
1, 033
.051
1,279
.051
1,341
1,638
767
1,187
.052
1,498
.053
1,290
.051
1,616
7,740
860
7,757
867
805
8,249
800
7,960
944
8,079
781
2,580
2,621
2,263
2,038
1,846
1,183
' 1, 347
247,112
.029
.028
117, 576
208, 979
445, 039
6,977
7,024
6,598
5,430
3,519
141, 456 144, 359 135, 928 121, 471 104, 282
371, 979 401, 523 328, 213 304, 631 362,129
.028
.029
.029
.029
.029
906, 801
174,546
631, 564
469, 459
162,105
939,102
182,039
'790,
776
r
588, 601
-•202,175
37,224 81,135
77, 731 32, 937
79, 228 127, 649 167, 643 '166, 962
619
81
37, 474
289, 291
753, 588
137, 724
421, 227
332, 272
88, 955
803
1,580
87, 802
532
72, 279
27, 215
.0537
28, 366
.0517
1,632
917
1,095
2,088
1,317
1,469
1,596
862
1,560
17, 032
. 0588
990
485
1,511
.051
1,267
.052
1,523
.054
1,712
.052
1,265
.055
949
8,017
846
7,918
643
.053
2,058
8,334
8,163
930
8, 059
1,213
7,662
994
1,570
1,294
804
624
526
1,082
' 57
• 56, 249
22 951
.0561
1,156
573
1,225
349, 987 376, 814 337, 292 247, 328 266, 456 285, C
.029
.037
.034
.030
.030
.029
122, 969 183, 880 184, 440 137,011 127, 764 115, 750 84,140 163, 801 137, 264 122, 525 91,612 29, 892
107, 931 205, 908 180, 469 152, 564 217, 426 281, 731 250, 265 306, 639 171, 338 65,188 232, 668 111,620
241, 039 236, 666 271, 306 357, 250 382,443 351, 005 293, 908 280, 086 305,164 365, 491 378, 089 413,074
13, 631
.051
.044
5,344
.049
.042
5, 532
.049
.044
3,641
.049
.044
14, 529
.050
.044
6,557
.050
.044
8,723
.050
.043
3,778
.050
.043
.064
.056
18, 995
.060
.052
13, 469
.056
.048
17, 627
.054
.046
14,213
.052
.045
25, 790
24, 452
22, 275
2,176
17, 734
8,083
5,223
2,786
16, 662
22, 782
18, 922
3,690
18, 076
19,615
10, 706
8,829
23, 352
31, 799
19, 384
11,015
9,799
38, 839
25, 303
11,192
3,846
34,511
32, 855
1,557
2,527
41, 251
36, 430
4,482
10, 726
63, 979
59,120
4,710
3,550
16, 045
12, 696
3,288
1,284
18, 5,88
13, 948
4,153
8,499
63, 229
62,175
915
15,418
13, 968
13, 072
893
8,863
7,931
8,576
6,866
8,785
6,724
7,499
7,307
7,653
9,953
11,954
11,927
0)
0)
0)
0)
0)
0)
0)
(0
11,185
15, 256
24, 242
23, 442
24, 966
20, 297
18,612
25, 652 30, 983 41, 554 43, 546 38, 323 41, 665
487, 357 525, 662 524, 393 257, 564 221, 785 211, 672
62, 253 40, 423 29, 756 35,295 46, 965 59, 940
45, 789
39, 208
38, 406
35, 848
32, 050
26,166
0)
(0
0)
72, 765
79, 383
83, 296
84, 571
92, 431
• 78, 563
832
1,441
5,488
978
1,387
5,080
1,400
1,509
4,970
1,558
1,194
5,335
1,811
1,531
5,616
1,976
1,559
6,033
0)
0)
19, 338
0)
62, 391
1,924
1,571
6,385
.280
.280
.280
.280
.280
.280
234, 468 205, 084 182, 681 168, 308 161, 255 158,739
18,195
1,437
1,335
5,948
18, 886
1,538
1,557
5,929
6,340
16, 223
1,546
1,178
6,296
15,169
1,641
1,418
6, 520
12, 696
1,444
1,468
6,323
9,478
953
1,353
0)
4,114
7,974
0)
0)
0)
0)
0)
6,356
8,844
TOBACCO
Leaf:
Exports§
thous. of lb__ 18, 408 37, 502 44, 333 21, 777 24, 502 17,146
15, 940 33, 773 45, 576 28, 532 30, 457 31, 260 36, 687
5,285
5,492
6,592
Imports, incl. scrap§
do
4,783
7,765
7,541
6,174
6,865
6,463
6,491
6,724
8,425
9,478
Production (crop estimate)
mil. of lb__
» 1, 770
Stocks, total, incl. imported types, end of
2,137
quarter^
mil. of l b . .
2,367
2,217
2,719
Flue-cured, fire-cured, and air-cured..do
1,705
1,819
2,319
i,9ir
Cigar types
do—
334
319
290
266
Manufactured products:
Consumption (tax paid withdrawals):
11, 782 14, 244 12, 269 15, 445 16, 595 14, 260 16, 571 14, 790 15, 384 14, 461 12, 803 14, 568
Small cigarettes
millions,. 13,163
Large cigars
thousands.. 375, 824 361, 233 437, 584 403, 042 470, 580 486, 721 427, 533 500, 807 486, 865 551, 230 505, 098 331, 204 388, 085
Manufactured tobacco and snuff
thous. of lb_. 26, 857 25, 425 29, 594 25, 628 30, 499 30,107 26, 246 33, 291 30, 361 30, 239 28, 436 24, 057 26, 742
641, 931 714, 576 433, 967
607, 719 616, 661
Exports, cigarettes!
thousands.. 576, 914 623, 889 562, 225 424, 857 592, 851 593, 218
Production, manufactured tobacco:
22, 571 26,052 22, 895 27,150 27, 493 23, 450 29, 823 26, 326 28, 749 25, 614 22,152
Total
thous. of lb_.
23,260
325
423
395
319
461
400
408
Fine cut chewing
do
348
366
323
373
372
4,145
4,322
4,076
4,974
4,652
4,294
Plug
do
4,471
3,851
5,153
4,370
3,763
3,419
2,924
3,023
3,501
3, 365
3,917
Scrap chewing.
do
3, 089
3,521
4,346
3,827
3,415
3,196
3,419
14, 711 17, 451 15, 045 17, 747 17, 979 15, 261 19, 357 17, 503 19, 660 17, 467 14, 421 15,650
Smoking
do
471
426
534
484
491 |
405
Twist
do
482
560
518
515
449
400
r
b
l
Revised.
December 1 estimate.
Temporarily discontinued; data not available since the outbreak of war.
fRevised series. Data on imports of raw and refined sugar revised beginning 1913; data not shown on p. 44 of the November 1939 Survey will appear in a subsequent
issue.
JFor monthly data beginning 1928 corresponding with monthly averages for 1928-33 shown in the 1938 Supplement, see table 7, p. 17, of the January 1939 issue.
§Revised series. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of the April 1939 issue.
http://fraser.stlouisfed.org/
*New series. Data on total imports of refined sugar beginning 1913 not shown on p. 44 of the December 1939 Survey will appear in a subsequent issue.
Federal Reserve Bank of St. Louis
45
SUEVEY OF CURRENT BUSINESS
April 1940
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey
ary
1940
1939
February
March
April
May
June
July
August
September
DecemOctober November
ber
January
FOODSTUFFS AND TOBACCO—Continued
TOBACCO—Continued
Manufactured products—Continued.
Prices, wholesale:
Cigarettes
dol. per 1,000..
Cigars
do
5.513
46.056
5. 513
46. 056
5.513
46.056
5.513
46.056
5.513
46. 056
5.513
46. 056
5.513
46. 056
5.513
46.056
5.513
46. 056
5. 513
46.056
5.513
46. 056
5. 513
46.056
5.513
46.056
400
261
126
104
149
9,501
5,622
4,762
FUELS AND BYPRODUCTS
COAL
Anthracite:
Exports§.thous. of long tons..
Prices, composite, chestnut:
Retail
__dol. per short ton__
Wholesale
do
Production...
thous. of short tons..
Shipments
do
Stocks, end of month:
In producers' storage yards
do
In selected retail dealers' yards
number of days' supply..
Bituminous:
Exports!
thous. of long tons,.
Industrial consumption, total
thous. of short tons..
Beehive coke ovens
do
Byproduct coke ovens
do
Cement mills
do
Coal-gas retorts
do
Electric power utilities
do
Railways (class I)
do
Steel and rolling mills
do
Other industrial
do
Other consumption:
Vessels (bunker)
thous. of longtons..
Coal mine fuel
thous. of short tons Prices:
Retail, composite, 38 cities
dol. per short ton..
Wholesale:
Mine run, composite
do
Prepared sizes, composite
do
Production
_ .thous. of short tons..
Stocks, industrial and retail dealers, end of
month, total
..thous. of short tons..
Industrial, total
do.
Byproduct coke ovens
do.
Cement mills
do.
Coal-gas retorts
do.
Electric power utilities
do.
Railways (class I)..
:
do.
Steel and rolling mills
do_
Other industrial
do.
Retail dealers, total
do.
114
9.576
3,544
154
143
137
336 | 194
160
130
8.601
3,832
3, 147
10.64
8.649
4,776
4,287
9.031
4,919
4,333
9.160
3,936
3,329
10.83
9,156
3.862
3, 435
716
1,129
1,172
1,219
1,365
994
61
47
47
57
58
37
512
33,183
372
6,654
308
155
4,902
8, 436
1,106
11, 250
10.55
9.698
4,114
3,382
11,35
9.642
3, 604
3,232
9.078
5,296
4,842
9.154
5,073
4,206
9.148
3,530
2,959
8.667
2,912
2, 611
761
408
86
238
559
25
22
35
250
984
1,192
1,209
1,525
1,746
1,715
C14
20, 518
39
3,383
416
125
3,032
5,915
678
6,930
21, 521
81
4, 361
530
123
3, 317
5,748
671
6,690
21 772
72
4,748
559
124
3, 541
5,903
665
6,160
23,437
69
5,177
547
128
3,842
6,075
719
6, 880
24,980
117
5,517
503
130
4, 025
6,492
766
7,430
29, 519
399
6, 400
531
138
4, 501
7, 450
980
9,120
30, 243
540
6,457
493
140
4, 406
7, 322
1, 055
9,830
31, 031
489
6, 668
425
146
4,683
7,461
1,029
10,130
88
74
79
122
99
191
97
200
92
238
140
261
158
315
178
293
111 I
255
4.421
4.345
10, 747
4. 464
4.300
17, 880
4.246
4.238
27, 900
4. 243
4. 275
29,135
4. 246
4.306
34, 688
4.271
4. 362
38,150
4.332
4.436
45, 950
4.333
4. 428
42, 835
40, 505
35, 225
7,222
414
217
8,760
7, 603
1,029
9, 9R0
5,280
31,746
28, 226
4,434
321
179
7, 642
6, 387
803
8,460
3,520
25, 413
22, 613
2, 598
275
129
6, 740
5, 196
545
7,130
2,800
26, 991
22, 761
3,548
286
170
6, 695
4,484
518
7,060
4,230
29, 725
24, 665
4, 535
342
192
7,002
4,242
512
7,840
5,060
33,624
27, 424
5,632
357
229
7, 500
4,224
542
8, 940
6, 200
36,943
30, 243
6,220
399
250
7,923
4, 338
573
10,540
6, 700
41,919
34. 270
7, 250
442
278
8,370
5, 050
640
12, 240
7,750
45, 542 44, 571 • 40, 222
33, 592
37, 402 37,121
7,993
6,496
8,115
444
425
472
264
'239
271
9,119
9,069
8, 858
5, 529
4,992
5,341
692
651
fifi5
11, 720
13, 680 13,080
7,450
6,
630
8, 140
21
18
510
282
348
28, 771
242
5,676
246
142
4,209
7,326
900
10, 030
25,786
107
4, 855
368
143
3,168
6,970
805
9,370
110
269
24,183
111
4, 346
244
137
3,051
6, 545
759
8,990
92
249
4.318
4.457
39, 270
4. 286
4.520
'34,134
4.2S3
4.491
35, 290
39,126
32,626
5,875
556
235
9,051
5, 269
650
10,990
6,500
39, 887
34, 087
7,373
403
220
8, 456
6,736
879
10, 020
5,800
39
23
105
259
207
22,390
31
4,114
402
131
2,827
6,042
823
8,020
8.29
i.68
129
'308
i.68
.45
4.322
4.404
37, 283
4.320
4.425
44, 940
COKE
Exports
thous. of long tons_.
Price, beehive, Connellsville (furnace)
dol. per short ton..
Production:
Beehivef
thous. of short tons._
Byproduct!
do.
Petroleum coke
do.
Stocks, end of month:
Byproduct plants, total
..do.
At furnace plants
do.
At merchant plants
do_
Petroleum coke
do.
52
37
28
5.125
5. 250
5.000
4.813
256
4,527
165
2,600
806
1,794
652
346
4, 567
159
2,607
836
1,771
647
314
4,718
155
2,561
896
1, 665
666
238
4,707
116
83
104,687
3,279
.960
104, 607
85
106, 899 107, 632 105, 505 110,980
3,061
2,942
3,235
3,093
.960
.885
.960
.960
110,937 80, 865 108,168 114,198
84
84
85
104,916
2,848
.960
111,887
83
86, 075 85, 580
39,699
39, 878
230, 926 230, 279
40,180 40, 445
190, 746 189, 834
1,419
1,656
85, 049
38, 902
226, 462
41, 463
184,999
1,608
85, 655 84, 039 82,927 82, 718 81,112 80, 223 79, 380
35. 478 35, 567
38, 427 38, 072 37, 372 35, 533 35,129
223, 558 192, 985 189,341 187, 579 191,164 195, 836 196, 407
41,817
37, 441 35, 781 36, 922 39,427 40, 033 39,162
181, 741 155, 544 153, 560 150, 657 151, 737 155, 803 157, 245
1,892
1,641
1,561
1,595
1,652
1,786
1,820
37
43
39
95
71
4.550
3.750
3.750
3.750
3.750
3. 750
3.750
3.750
3.750
155
4,017
71
3,078
117
69
3,439
128
20
2, 915
142
25
2,396
132
52
3,090
142
44
3, 666
143
75
3,904
111
3,116
1,242
1,874
705
3,037
1,198
1,839
694
2,967
1.091
1,876
734
2, 751
951
1,800
716
2,657
931
1,726
710
46
3,365
145
2,772
945
1,827
733
2,921
916
2, 005
682
2,812
868
1,945
668
87, 797
1,343
.960
93, 475
76
98, 917
1,736
.960
106, 768
77
99, 303 105, 755
4,186
2,788
.960
.960
105, 510 110, 541
87, 002
38, 323
227, 098
41, 777
185, 321
1,338
86, 294
39, 383
229, 079
41,154
187, 925
1,252
1,116
3,640
2,904
.850
1,134
4,033
3,076
.850
1,242
3,890
3,341
.850
1,346
3,870
3,520
.850
1,354
3,999
3,343
.850
1,557
4,050
3,207
.850
1,668
4,014
3,026
.850
1,650
4,205
3,061
1
1,720
4,650
2,254
1
C)
1,598
4,240
3,083
0)
1,727
4,328
3,406
21, 476
12, 797
25, 040
13, 539
24, 750
13, 301
27, 022
12, 353
24, 836
13, 530
25, 644
12, 688
25, 299
13, 246
26, 302
12, 975
27,594
15,017
26, 088
13, 757
26, 944
14, 433
784
922
842
1,166
628
PETROLEUM AND PRODUCTSf
Crude petroleum:
Consumption (runs to stills)...thous. of bbl._
Imports§
do
Price (Kansas-Okla.) at wells...dol. per bbl._
Production
thous. of b b l . .
Refinery operations
pet. of capacity..
Stocks, end of m o n t h :
California:
Heavy crude and fuel
thous. of b b l . .
Light crude
do
East of California, total
do
Refineries
do
T a n k farms and pipelines
do
Wells completed
number. _
Refined petroleum products:
Gas and fuel oils:
Consumption:
Electric power plantsf
thous. of b b l . .
Railways (class I)
do
Vessels (bunker)
do __
Price, fuel oil (Oklahoma)
dol. per b b l . .
Production:
Residual fuel oil
thous. of bbl—.
Gas oil and distillate fuels, total
do
2,244
3,082
0)
C)
105, 835 106, 530
2, 651
1,948
.960
.960
114, 810 113,140
81
81
0)
1,950
4,502
3.497
0)
28,082
16, 548
r
Revised.
i Discontinued by reporting source; a new series will be substituted in a later issue.
fRevised series. Petroleum and products revised for 1937; see table 9, p. 15 of the March 1939 Survey. Revisions for 1938, which are minor, will appear in the 1940 Supplement. Beehive and by-product coke production revised for 1937; see p. 45 of the December 1938 Survey. Gas and fuel oil consumption in electric power plants, revised for
1938; see p. 45 of the June 1939 Survey.
§Revised series. Data for 1937 revised; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.
46
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey
ary
April 1940
1939
February
March
April
May
June
July
1940
August
September
DecemOctober November
ber
January
FUELS AND BYPRODUCTS—Continued
PETROLEUM AND PRODUCTS!—Con.
Refined petroleum products—Continued.
Gas and fuel oils—Continued.
Stocks, end of month:
Residual fuel oil, east of California
thous. of bbl._
Gas oil and distillate fuels, total
do
Motor fuel :1[
Demand, domestic
thous. of bbl_.
Production, total
do
Benzol
do
Straight run gasoline
do
Cracked gasoline.
do
Natural gasoline
.do
Natural gasoline blended
do
Exports
do
Gasoline.-f
Price, wholesale, tank wagon (N. Y.)
dol. per gal..
Price, wholesale, refining (Okla.)
do
Price, retail, service stations, 60 cities.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 1b.
Stocks, refinery, end of month
do.__
1,716
.127
.044
279
.050
1,876
26, 111
29,282
26, 249
30,018
26,109
30,951
24,018
30,179
20, 881
26, 374
18, 764
21,057
49,812
50,861
174
21, 782
24,810
4,095
2,682
3,884
25,025
27,581
50, 508
51,896
191
22,502
25,028
4,175
2,909
2,987
53,828
52,161
210
22,371
26,180
3,400
3,092
3,580
49,347
51,890
225
21,833
25, 700
4,132
3,237
3,609
49,687
54,974
259
23,611
26, 623
4,481
4,358
2,967
47,275
52, 691
267
22, 415
25,621
4,388
4,286
2,348
43,694
52,351
275
22,017
25, 589
4,470
4,018
2,895
40,370
50, 243
272
21, 709
23,991
4,271
3,285
1,744
.118
.049
.133
2,006
.111
.050
.135
2,055
.107
.050
.134
2,112
.107
.051
.135
2,183
.114
.053
.134
2,001
.124
.053
.136
1,925
.125
.052
.134
1, 862
.127
.050
.134
1,815
.127
.047
81,623
55,172
5,484
78, 342
52,076
6,212
74, 395
47,972
6,749
71, 824
44,196
7,123
66,448
41,046
6,624
65, 498
41, 423
5,891
68,116
43, 516
5,140
71. 619
46, 898
4,579
77, 301
51, 920
4,421
84, 863
60, 420
4,271
5,201
523
5,042
691
4,368
631
3,570
460
3,710
753
4,436
802
4,638
560
5,019
1,089
6,023
563
6,613
631
7,842
356
.052
5,174
5,452
.053
5,900
5,605
.053
5,813
5,663
.053
5,909
6,551
.053
5,439
7,949
.051
5,390
8,855
.050
5,783
9,361
.050
5,806
9,952
.050
6,141
9,967
.050
5,642
9,019
.048
5,822
7,576
.048
5,375
4,918
1,653
1,987
1,770
2,132
1,902
1,982
1,963
2,207
2,656
1,927
1,825
2,054
.105
2,522
7,951
.105
2,664
7,800
.105
2,672
7,886
.105
2,856
7,630
.105
2,800
7,427
.105
2,755
7,179
.105
3,056
7,069
.134
2,854
6,704
.166
3,575
.168
3,277
6,799
.184
3,478
7,142
.208
3,308
7,328
9,662
189, 300
572,000
3,232
308,200
650,000
1,521
374.900
688,000
2,505
477,800
672,000
4,150
1,742
3,024
1,726
1,670
485, 800 509,400 577, 300 550, 400 541,800
642, 000 596, 000 529, 500 475, 000 472,000
3,455
391,400
497,000
8,622
303,700
550,000
4,619
207, 200
593,000
33, 320
117,711
44,800
117, 537
35,000
119,301
34,440
113,925
39,480
111,604
21,952
21, 731
19,288
20,115
19, 534
21,058
21, 397
22,088
22, 480
25,659
34, 595
43,409
170
18, 455
21,037
3,747
3,229
2,569
42, 520
48,367
192
20,663
23,280
4,232
3,243
3,523
43,977
48,837
162
20,922
23, 521
4,232
2,983
2,900
49,547
51, 384
130
22, 767
24,207
4,280
2,646
3,915
.119
.042
.130
1,427
.118
.045
.131
1,734
.114
.047
.132
1,796
79,691
54, 569
4,708
81,189
55,464
4,721
5,901
516
28, 840 31,080
109, 322 108,173
40,320
89,584
45,080
81,147
48,440
81, 369
48,440
75, 648
48,440
74, 575
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 lamb skins§
__do
Livestock (federally inspected slaughter):
Calves
thous. of animals
Cattle
. ..
.do
Hogs
do
Sheep and lambs .
. .
do
Prices, wholesale (Chicago):
Hides,packers',heavy,native steers.dol.per lb__
Calfskins, packers', 8 to 15 1b
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__
Chrome, calf, B grade, composite!
dol. persq. ft..
Stocks of cattle hides and leather, end of month:
Total
thous. of equiv. hides..
In process and
finished
do
Raw
do
32, 421
1,055
16, 221
9,017
4,071
28,189
2,809
13, 200
6,189
3,975
29,196
2,380
11, 771
6,769
4,436
25,454
2,505
11, 374
5,260
4,858
27, 026
1,939
10, 388
6,332
5,189
22, 563
2,302
8,034
5,214
4,385
22, 682
2,685
7,128
5,236
4,619
25,093
1,867
9,308
5,362
5,370
24, 578
1,585
10, 611
4,013
4,807
21, 348
1,503
8,873
5,025
4,517
31, 360
1,980
13,062
4,576
8,586
33,197
1,461
16, 828
5,821
5,114
30, 383
1,348
14,178
6,094
5,153
378
715
4,277
1,313
385
653
2,890
1,361
478
774
3,229
1,473
457
677
2,931
1,224
509
814
3,416
1,392
448
778
3,185
1,401
417
782
2,778
1,399
414
823
2,792
1,457
427
880
2,885
1,635
482
893
3,545
1,585
450
837
4,437
1,469
381
773
5,236
1,389
416
827
5,356
1,598
.129
.214
.104
.154
.107
.154
.097
.145
.105
.156
.110
.164
.115
.161
.116
.160
.146
.211
.165
.240
.146
.214
.144
.222
.140
.223
773
3,214
14
3,492
92
4,197
46
3,585
82
3,816
47
3,640
53
3,428
65
2,905
54
4,839
226
5,757
446
4,623
274
4,109
259
3,685
1,326
1,943
3,170
3,236
1,329
1,955
3,623
3,115
1,168
1,672
3,463
2,774
1,187
1,736
3,473
3,015
1,227
1,715
3,666
3,066
1,064
1,619
3,323
3,096
1,155
1,949
3,397
4,205
1,074
1,811
3,065
3,770
1,156
1,928
3,697
3,938
1,038
1,952
3,354
3,428
'954
' 1,858
3,167
r 2,950
1,101
1,978
3,639
2,977
.348
.303
.291
.290
.290
.294
.305
.305
.348
.374
.368
.355
.358
.455
.392
.390
.390
.391
.392
.392
.392
.419
.463
.453
.452
.456
13,375
9,699
3,676
13,009
9,229
3,780
12,813
9,026
3,787
12,905
9,078
3,827
12, 976
9,151
3,825
12,899
9,059
3,840
12, 606
8,876
3,730
12, 509
8,694
3,815
12,406
8,666
3,740
12, 575
8,840
3,735
' 12,862
r 9, 091
' 3, 771
12,996
9,273
3,723
LEATHER MANUFACTURES
Gloves and mittens:
153,409 174,937 148,420 149,591 184,099 161,643 206,134 201,356 209,026 202,008 144, 489 125,954
Production (cut), total
dozen pairs
81, 484
70.321
88,480 111,927 104,988 130,500 130,109 133, 362 125, 360
81,850
93,123 103, 739
Dress and semi-dress
do
75, 664
76, 648
71, 247
56,655
75,634
63,005
55,633
72,172
61,111
66, 570
Work
.
do
60,286
71,198
r
Revised.
fFor petroleum and petroleum products, see note marked with a "f" on p. 45. Retail distribution of gasoline revised for 1937-38; data not shown on p. 46 of the June 1939
Survey will appear in a subsequent issue. Wholesale price of chrome, calf, B grade leather revised beginning January 1938; data not shown on p. 46 of the January 1940 Survey
will appear in a subsequent issue.
IThe gasoline statistics in the above table have been rearranged and data on the production of benzol have been added. With this series included, it is possible to derive
figures of total production of motor fuels, as shown here. Data for benzol production beginning 1925 appear in table 52, p. 18, of the November 1939 issue.
§Revised series. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of the April 1939 SurveyJ
47
SURVEY OF CURRENT BUSINESS
April 1940
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey
ary
1940
1939
February
March
April
May
June
July
August
September
Novem- DecemOctober
ber
ber
January
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES— Continued
Shoes:
Exports
thous. of pairs..
Prices, wholesale, factory:
Men's black calf blucher
dol. per pair..
Men's black calf oxfordt
do
Women's colored, elk blucher
...do
Production, boots, shoes, and slippers:
Total
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
316
195
310
223
304
176
184
234
205
169
426
161
196
6.00
5.05
3.30
5.75
4.70
3.00
5.75
4.70
3.00
5.75
4.70
3.00
5.75
4.70
3.00
5.75
4.70
3.00
5.75
4.70
3.00
5.75
4.70
3.00
5.75
4.70
3.00
5.75
4.85
3.10
6.00
5.05
3.13
6.00
5.05
3.15
6.00
5.05
3.21
35, 573
285
465
1,299
31, 304
1,178
1,894
3,816
9,076
15,341
35,457
237
530
778
31,400
1,302
1,940
3,711
8,645
15,801
42,375
281
760
832
37,131
1,545
2,256
4,505
9,930
18,894
32,578
275
591
641
27,842
1,407
1,951
3,122
7,680
13,683
32, 222
307
526
355
27,161
1,404
1,825
3,435
7,739
12,757
31,776
295
454
291
26,326
1,390
1,971
3,579
7,888
11,498
33, 618
268
257
380
28,802
1,439
1,836
3,401
7,628
14,497
43,581
358
247
567
36,913
1,894
2,131
4,240
10,065
18,583
36,379
359
277
530
29,659
1,502
1,967
3,681
8,572
13,936
37, 073
440
334
676
29,247
1,476
2,171
3,783
9,568
12, 248
32,056
383
241
564
24, 688
1,172
1,923
3,228
9,036
9,328
28,412
321
301
849
23,465
1,085
1,627
3,262
7,928
9,563
' 33,885
274
414
r 1, 291
' 30,298
1,169
' 1,838
3,903
r 8,985
• 14,403
1,875
345
1,983
530
2,651
721
2,464
765
3,002
871
3,702
708
3,600
310
5,185
311
5,303
251
6,093
283
5,839
340
3,237
239
' 1,253
355
LUMBER AND MANUFACTURES
LUMBER-ALL TYPES
Exports, total sawmill products*
M bd. ft-.
Sawed timber*...
do
Boards, planks, scantlings, etcf-..
do
Imports, total sawmill products*
...do
National Lumber Mfrs. Assn.if
Production, total
_
mil. bd. ft..
Hardwoods
do
Softwoods
...do
Shipments, total..
..do
Hardwoods.
do
Softwoods
do
Stocks, gross, end of month, total
do
Hardwoods
..do
Softwoods
do
59, 734
13, 217
41,197
45, 373
70, 727
10,879
59, 228
47,803
92,980
21, 766
65, 505
62,591
82,956
16,586
61, 726
58,292
98,932
18,819
73,430
48,941
112,130
17,984
89, 254
54,692
115, 264
19,698
92, 051
53, 021
124,021
20, 256
99,156
54, 222
100,834
14, 491
82,164
59,406
84, 326
5,928
73,918
102, 606
73,669
6,563
60,088
73,935
84, 832
17,063
62,104
53, 253
77, 513
18, 278
49,416
53, 650
1,824
354
1,469
1,843
348
1,495
7,621
1,823
5,798
1,637
325
1,312
1,709
308
1,401
8,273
2,109
6,164
1,923
336
1,587
2,091
358
1,733
8,103
2,086
6,017
1,968
296
1,672
2,012
326
1,687
8,067
2,057
6,010
2,235
302
1,933
2,205
325
1,880
8,098
2,033
6,065
2,252
301
1,951
2,262
348
1,914
8,095
1,985
6,110
2,143
303
1,841
2,157
354
1,803
8,082
1,940
6,142
2,401
352
2,049
2,534
392
2,143
7,956
1,904
6,052
2,303
359
1,944
2,552
431
2,121
7,705
1,842
5,863
2,363
377
1,986
2,616
470
2,146
7,440
1,759
5,681
2,250
382
1,869
2,208
414
1,793
7,474
1,729
5,745
2,002
359
1,642
1,848
306
1,542
7,665
1,807
5,858
1,817
338
1,480
1,846
329
1,516
7,610
1,817
5,793
6,200
11,250
6,600
6,100
20, 700
5,400
15, 200
5,580
4,850
24,350
6,550
14,000
5,300
7,400
22,600
8,100
14, 000
5,600
7,200
21, 000
7,550
14,200
5,650
7,600
18,850
6,850
12,400
7,400
8,200
18,400
8,100
11,900
6,200
8,300
16,600
8,250
10,950
8,150
9,150
15,900
11,900
14,400
8,600
8,700
16,000
8,650
14,150
9,000
8,800
16,600
6,200
13,000
8,150
7,050
18, 050
4,800
11,575
7,000
6,000
19,125
5,800
11,125
7,150
6,050
20,125
42,338
66,205
33,435
33,312
81,012
26,910
56,482
27,640
27,308
94, 730
28,144
51,675
29,639
31,951
92,445
26,128
47,199
28,565
30,604
87,191
32,937
41,137
35,447
37,999
83,635
36, 058
39,793
34, 268
37, 401
79,503
36, 713
39,523
34,126
36,985
76,165
47,117
46,191
41,180
44,666
72,679
58,230
64, 773
39,835
44,816
65,647
38,729
59,699
44, 750
43,739
66,397
21,890
47,191
42,497
35,626
71, 603
25,692
42,285
36,046
30, 599
77,066
44,622
56,980
35,252
29,850
81,295
25,704
8,424
17, 280
25,972
5,696
20, 276
34,545
14,950
19,595
29,486
11,485
18, 001
36,570
12,193
24,377
45,028
10,992
34,036
48,105
11,507
36,598
55, 755
14,546
41,209
34,280
8,972
25,288
23,416
1,982
21,434
23, 298
4,114
19,184
38,971
12, 619
26,352
34,959
14, 556
20,403
20.090
18. 620
18.620
18.620
18.620
18. 620
18.620
19.110
19.845
20.874
21.070
21.070
20,482
39.690
36.000
34.300
35. 280
35. 280
36.505
37.240
37.828
39.445
41. 552
42.140
42.140
40. 964
14, 747
4,518
10,229
503
357
41.798
545
480
2,014
18,496
4,709
13, 787
534
327
39.855
538
537
2,101
25,314
6,706
18,608
670
343
40.303
645
654
2,092
20,857
4,954
15,903
618
360
39.968
608
601
2,099
24,740
6,168
18, 572
675
346
40.298
681
689
2,091
23, 476
6,668
16,808
673
347
38.998
637
672
2,056
30,028
7,916
22,112
624
341
39.383
626
630
2,052
18,821
5,529
13,292
760
378
40.568
689
723
2,018
28,664
5,287
23, 377
894
536
40.560
625
736
1,907
24,221
3,659
20, 562
661
431
42.998
670
766
1,811
23,332
2,258
21,074
545
343
42. 393
647
633
1,825
19,063
4,017
15,046
480
306
41.875
611
517
1,919
15,144
3,489
11,655
513
334
41. 500
515
485
1,949
300
282
239
197
317
198
366
225
402
222
443
238
454
272
509
298
600
415
470
377
302
254
329
262
325
279
28.86
212
297
1,744
25.24
153
268
1,781
25.13
233
317
1,697
24.81
349
340
1. 706
24.90
498
409
1,795
25.08
520
432
1,863
25.42
484
423
1,939
25.65
551
489
1,965
26.81
501
489
1,977
28.61
492
514
1,954
29.64
430
431
1,953
28.99
291
321
1,923
28.77
215
309
1,829
522
513
508
516
961
426
383
434
431
1,024
602
373
507
551
982
513
376
519
549
970
660
402
528
549
955
572
437
566
580
950
547
487
519
537
946
772
483
580
673
869
674
570
577
632
838
514
521
600
609
839
513
444
579
519
908
463
452
516
487
930
656
507
535
521
953
FLOORING
Maple, beech, and birch:
Orders, new
_
Orders, unfilled, end of month
Production
Shipments
Stocks, end of month
Oak:
Orders, new
Orders, unfilled, end of month
Production
Shipments
Stocks, end of month
M bd. ft..
do
.do
do
_do
_do
do
do
do
..do
SOFTWOODS
Douglas Fir:
Exports, total sawmill products*._.M bd. ft..
Sawed timber
do
Boards, planks, scantlings, etc
..do
Prices, wholesale:
No. 1, common boards.-dol. per M bd. ft..
Flooring, 1x4, " B " and better, V. Q.
dol. perM bd. ft-Southern Pine:
Exports, total sawmill products*._.M bd. ft..
Sawed timber
.do
Boards, planks, scantlings, etc
do
Orders, newf.
mil. bd. ft_.
Orders, unfilled, end of month
do
Price, wholesale, flooring..dol. per M bd. ft..
Productionfmil. bd. ft..
Shipmentst
do
Stocks, end of month
do
Western Pine:
Orders, newf
do
Orders, unfilled, end of montht
do
Price, wholesale, Ponderosa Pine, 1 x 8, no. 2,
common (f. o. b. mills)..dol. per M bd. ft..
Production!
mil. bd. ft._
Shipments
do
Stocks, end of month
do
West Coast Woods:
Orders, new
do
Orders, unfilled, end of month
...do
Production f
do
Shipments!
do
Stocks, end of month
do
I
' Revised.
*New series. For the new series on exports of sawed timber and imports of sawmill products data beginning 1913 appear in tables 44 and 45, p . 18 of the October 1939
Survey. The new series on exports of total sawmill Droducts, 1913-39, are shown in table 17, p . 18 of the March 1940 Survey. For Douglas fir and southern pine, the new
series on total exports represent a total of the items regularly shown. Note that the more definitive title "boards, planks, and scantlings, etc." has been substituted for "lumber."
t Revised series. Wholesale prices of men's black calf oxfords revised beginning January 1938 because of style change with price of slightly different type substituted at
that time. Revised data for 1938 are shown on p . 47 of the September 1939 Survey. For revisions in lumber, all types, southern pine, western pine, and west coast woods
see the note marked with a " t " on p . 47 of the March 1940 Survey. Revised data for total exports of boards, planks, scantlings, etc., 1913-39, are shown in table 17, p. 18 of
the March 1940 Survey.
48
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey
ary
April 1940
1940
1939
February
March
April
May
June
July
DecemAugust SeptemOctober November
ber
ber
January
LUMBER AND MANUFACTURES—Continued
SOFTWOODS—Continued
Redwood, California:
Orders, new
Orders, unfilled, end of month
Production
Shipments
Stocks, end of month
M bd. ft.
do,._
do. _.
do._do-__
098
485
585
822
378
26, 387
29, 676
27, 930
28, 096
298, 052
26, 846
28,181
31,614
27, 806
299,887
24, 498
24, 563
28, 262
27,469
295, 551
23,168
28, 377
25, 421
23, 497
296, 426
32,085
28, 404
32,989
32, 405
298, 707
39, 727
41, 027
30, 295
26, 772
299, 358
30, 782
39,092
33, 358
32, 603
296, 462
22, 005
31, 445
31, 204
28, 019
298, 397
17, 749
28, 678
27,883
20, 802
297, 976
25, 331
26, 517
27, 239
23, 793
296, 026
56.0
57.0
53.0
53.0
50.0
51.0
59.0
63.0
66.0
67.0
65.0
60.0
8.0
16
30
65.0
16
5.0
14
19
53.0
13
5.0
14
16
53.0
15
6.0
10
13
42.0
12
7.0
11
13
47.0
11
2.0
25
28
47.0
13
4.0
16
30
50.0
13
3.0
20
30
56.0
18
3.0
23
31
56.0
19
5.0
26
35
63.0
21
7.0
23
35
65.0
20
8.0
13
26
67.0
16
5.0
23
33
63.0
16
77.9
102.3
88.1
87.2
77.6
102. 3
88.1
87.2
77.6
102.3
88.1
87.2
77.6
102.3
88.1
87.2
77.6
102. 3
88.1
87.2
77.6
102.3
88.1
87.2
77.6
102.3
88.1
87.2
78.1
102.3
88.1
87.2
78.1
102.3
88.1
87.2
77.9
102.3
88.1
87.2
77.9
102.3
88.1
87.2
77.9
102.3
88.1
87.2
77.9
102.3
88.1
87.2
575, 613 591, 856 605, 555
330, 680 336, 775 272 656
29, 874 19,189
216
3,216
2,305
837
600, 437
206, 402
14, 709
1,267
583, 521
187, 457
8,274
442
37.18
37.09
5, 538
21, 544
26, 416
29,105
21,957
301,176
20, 875
30, 647
26, 272
24, 243
307, 494
63.0
32,
32,
28,
30,
300,
FURNITURE
All districts:
Plant operations
percent of normal..
Grand Rapids district:
Orders:
Canceled
percent of new orders,.
New
no. of days' production..
Unfilled, end of month
do
Plant operations
percent of normal _.
Shipments
no. of days' production. _
Prices, wholesale:
Beds, wooden
1926=100..
Dining-room chairs, set of 6
do
Kitchen cabinets
do
Living-room davenports
do
Steel furniture (see Iron and Steel Section).
METALS AND MANUFACTURES
IRON AND STEEL
I
Foreign trade:
Exports (domestic) total §
long tons.. 671,301 359, 690 474, 360 394, 008 532, 641 588, 856
234, 710 224, 913 312,262 240,124 384. 881 398, 888
Scrap
do
6,740
19,149
25. 369 44, 083 28,142 32, 587
Imports, total §
do
273
2, 537
1, 413
2,769
3,971
780
Scrap
do
Price, wholesale, iron and steel, composite
36.34
36.37
36.40
35.80
35.69
36.97
dol. per long ton-.
Ore
i
Iron ore:
!
Lake Superior district:
j
Consumption by furnaces
j
2,830
2,853
2,246
3,317
2,800
thous. of long tons._!I 4,242
0
5,573
0
3,601
0
57
Shipments from upper lake ports
do
25,967
28, 840 25. 872 22, 791 23, 071 25, 861
Stocks, end of month, total
do
22 087
23, 912 21,054
IS, 306 18, 835 21,610
At furnaces
do
4, 251
3, 880
4,928
4,818
4,485
4,236
Lake Erie docks
do
189
162
237
179
203
217
Imports, total §
do
Manganese ore, imports (manganese content) § j
11
15
17
43
21
thous. of long tons.. |
513, 664
350, 066
30. 851
3,335
477, 078
291, 896
28, 328
3,729
35.82
35.95
36.67
37.62
37.50
3,143
6,310
28, 507
24,196
4,311
222
3,775
6, 955
32,714
28, 365
4,349
213
4,185
7,865
35, 853
31, 203
4,650
179
5.271
9,201
39, 005
33, 944
5,121
203
5,440
40, 732
35, 516
5,216
304
0
35, 440
30, 805
4, 635
163
5,289
0
30.1S9
25, 901
4,288
209
24
18
43
57
27
54
39
64, 732
41, 427
50.5
39, 215
63, 835
54, 263
66.3
49, 807
51, 778
59,143
69.6
54. 038
45, 978
53, 663
65.2
53, 753
40, 438
53, 372
64.2
52, 088
5, 478
Pig Iron and Iron Manufactures
Castings, malleable:
Orders, new
short tons..
Production
do
Percent of capacity
Shipments
short tons..
Pig iron:
Furnaces in blast, end of month:
Capacity
long tons per day...
Number
Prices, wholesale:
Basic (valley furnace)
dol. per long ton..
Composite
do
Foundry, No. 2, northern (Pitts.)
dol. per long ton..
Production
thous. of long tons..
Cast-iron boilers and radiators:
L Boilers, round:
Production
thous. of 1b...
Shipments
do
Stocks, end of month
do
Boilers, square:
Production
do
Shipments
do
Stocks, end of month
do
Radiators:
Convection type:
Sales, incl. heating elements, cabinets,
and grilles...thous. sq. ft. heating surface,.
Ordinary type:
Production
do
Shipments
do
Stocks, end of month
do
Boilers, range, galvanized:
Orders:
New
number of boilers..
Unfilled, end of month, total
do
Production
do
Shipments
do
Stocks, end of month
do
34, 901
42, 163
43, 935
33, 234
34, 786
42.9
34, 698
35, 997
39. 615
47.5
39, 807
29,183
31, 640
38.8
33. 666
27, 702
30, 840
37.8
32, 657
29, 041
30, 781
37.0
32, 566
29, 892
28, 836
35.3
26,169
40, 005
40, 212
47.9
33, 289
94, 679
157
74, 285
121
77, 460
123
60,160
102
60, 515
107
72, 495
118
79, 765
130
87, 715
138
22.50
23.15
20. 50
21.15
20.50
21.15
20.50
21.15
20.50
21.15
20.50
21.15
20.50
21.15
20.50
21.15
21. 50
22.35
22.50
23.15
22.50
23.15
22.50
23.15
22.50
23.15
24.89
2, 957
22.89
2,060
22.89
2,395
22.89
2,056
22.89
1,718
22.89
2,118
22.89
2,356
22.89
2,660
23.89
2,879
24.89
3, 628
24.89
3,720
24.89
3,768
24.89
3,600
1,648
1, 207
11,935
1,807
1,376
16, 491
2,198
1,113
17, 579
1,916
1,203
18, 301
1,930
1,051
19, 084
1,950
1,427
19, 421
1, 387
1,749
19, 056
1,946
2,537
18, 463
2,181
4,634
16, 010
5,445
13, 264
1,418
1,740
12, 002
1,456
2,117
11,487
20,616
13, 801 19, 960 15, 339 16, 429 16,194
11,214
9,448
11,744
14, 577
9,246
10, 406
88, 593 104,303 114, 878 119, 839 124, 462 126,130
15, 284
16, 807
124, 581
21, 442
25, 360
120, 651
20, 696
35. 593
105, 757
20, 925
39, 869
2,233
2,882
11, 905
17, 273
23, 751
80, 391
14,816
16, 227
77,878
16, 525
15,443
79,128
5, 647 4,474
5,166
7,824
21, 424 21, 653
4,735
4,173
21, 767
69, 407
36, 086
79, 565
77, 534
36, 794
105, 525 120, 565 124, 085 122, 055 110, 705
191
177
169
191
188
390
305
340
476
556
729
811
1,106
915
792
5,530
3,135
24, 222
4,711
2, 950
30, 800
5, 593
2,887
33, 612
4,350
3,103
34, 875
4, 276
4,207
34, 963
4,655
4,730
34, 975
4,187
5, 280
33, 902
5,299
7.234
32, 007
5,299
9,209
28,133
6,754
10, 387
24, 543
55,026
24, 532
66,039
66, 580
36, 253
50, 876
12, 604
56, 476
53, 298
38, 495
57, 928
10,145
60, 421
60, 387
38, 463
69, 772
19, 442
53, 454
60, 475
31, 442
68,191
20, 638
67, 610
66, 995
32, 057
59,
16,
62,
63,
31,
277
245
996
670
472
53, 914
19, 671
47.894
50', 488
28, 878
66, 082
16, 694
69, 656
69,059
29, 475
133, 384 98, 692
61, 494 51, 226
86, 069 110, 988
88, 584 108, 960
26, 960
80, 265
48, 999
84,181
82,492
30, 677
72, 380
44, 213
81, 252
77,166
34, 763
37, 774
32.3
11,872
40, 272
34.4
11,060
34, 804
29.7
7,721
34,168
29.2
8,498
39, 698
33.9
6,912
42, 428
36.3
10, 229
96, 687 119, 687
102.3
82.6
42, 213 58, 530
43, 590 72, 096
61.6
37.2
12, 449 26, 391
99,899
85.4
52,146
85, 755
73.3
36, 615
64,143 43,121
54. 8
36. 8
28, 262
8, 302
79, 732 80,146
68.1
68. 5
33. 146 I 34,019
660
566
Steel, Crude and Semimanufactured
Castings, steel:
31, 223 42,139
34, 388 41, 660
Orders, new, total
short tons.. 40,913
35.0
26.7
36.0
29.4
35.6
Percent of capacity
6,848
11,125
12, 621
9,6f?
Railway specialties
short tons.. 10,472
67, 454 37, 646 41,067 36, 232 41, 359
Production, total
do
57.6
35.3
32.2
35.1
31.0
Percent of capacity
12, 506
10,060
10, 173
9,751
Railway specialties
short tons.. 28,506
^Revised series. Data revised for 1937; see tables 19 and 20, pp. 14-15 of the April 1939 issue.
SUKVEY OF CUREENT BUSINESS
April 1940
Monthly statistics through December 1937, to- 1 9 4 0
gether with explanatory notes and references
to the sources of the data, may be found in the Febru1938 Supplement to the Survey
ary
49
1940
1939
February
March
April
May
June
July
August
September
Novem- DecemOctober
ber
ber
January
METALS AND MANUFACTURES—Continued
IRON AND STEEL—Continued
Steel, Crude and Semimanufactured—
^ ,
Continued
Ingots, steel:
3,906
Production
thous. of long tons - .
68
Percent of capacity
Bars, steel, cold-finished, carbon, shipments
46,277
short tons..
Prices, wholesale:
.0265
Composite, finished steel
dol. per lb_.
Steel billets, rerolling (Pittsburgh)
34.00
dol. per long ton..
.0210
Structural steel (Pittsburgh)
dol. per lb_.
15.75
Steel scrap (Chicago)
dol. per gross ton..
U. S. Steel Corporation:
Shipments, of rolled andfinishedsteel products!
1,009
thous. of short tons.Steel, Manufactured Products
Barrels and drums, steel, heavy type:
Orders, unfilled, end of month
number.. 335,183
Production
___
__.do
45.1
Percent of capacity
Shipments
number.. 808, 635
36,033
Stocks, end of month
do
Boilers, steel, new orders:
558
Area
thous. of sq. ft._
414
Quantity
.number..
Furniture, steel:
Office furniture:
Orders:
New
thous. of dol.2,200
Unfilled, end of month
do
1,286
Shipments
do
2,264
Shelving:
Orders:
New
do
481
Unfilled, end of month.
do
444
Shipments
.
.do
479
Plate, fabricated steel, new orders: •
Total
.short tons.. 25,824
Oil storage tanks
do
5,254
Plumbing and heating equipment, wholesale
price (8 items)
dollars.. 234. 38
Porcelain enameled products, shipments!
thous. of doL .
Spring washers, shipments
do
195
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
do
Hot rolled
do
Structural shapes, heavy
do
Tin plate
do....
Wire and wire products
do
Track work, shipments
short tons..
2,989
54
3,405
55
2,974
52
2,923
47
3,125
53
3,163
55
3,763
61
4,231
71
5,394
91
5.463
92
5,164
90
5,018
81
38,571
42,808
36,287
34, 287
35, 615
32,809
42,895
55, 495
67, 599
67, 977
61, 591
57, 232
.0264
.0262
.0261
.0261
.0261
.0263
.0263
.0265
.0265
34.00
.0210
13.56
34.00
.0210
13.56
34.00
.0210
13.88
34.00
.0210
16.22
34.00
.0210
19.05
34.00
.0210
17.66
34.00
.0210
16.56
34.00
.0210
16.38
886
1,087
1,346
1,406
1,444
1,146
.0268
34.00
.0210
14.06
421,037
597, 953
36.0
600,411
34,008
34.00
.0210
14.25
34.00
.0210
13.38
34.00
.0210
12.80
845
772
796
351,203
737,155
45.0
742,491
28, 672
277, 719 257, 961 208,000
837,079 846, 322 861,102
51.1
52.8
51."
837, 320 845, 517 850, 513
29,050
28,431
39, 639
235, 772
750, 276
46.0
756,890
33,025
247, 729 771, 714 1,147,918 966, 519 767, 591 450,032
851,087 1,203,820 1,612,384 1,636,273 1,468963 1,137,543
92.3
92.4
73.8
64.0
52.2
82.9
849, 697 1,207,335 1,576,690 1,653,078 1,457,472 1,158,345
66, 586 49,781 61,251
41, 708
34,407
30,892
1,032
1,098
772
1,033
890
1,175
1,752
1,380
1,089
997
659
554
477
525
483
1,769
989
1,712
1,932
1,179
1,745
1,774
1,361
1,596
1,855
1,285
1,932
2,097
1,334
2,048
2,181
1,365
2,150
2,120
1,299
2,187
2,095
1,247
2,160
2,367
1,350
2,264
385
255
379
501
323
425
293
460
407
291
366
411
263
440
421
266
418
526
335
456
668
511
493
540
494
534
504
443
556
29,784
7,723
35,844
5,429
34,036
10, 976
33, 959
13, 481
31, 364
8,188
21,828
8,229
39, 751
11,498
37, 766
10,991
26,020
9,107
23, 627
6,665
33,804
9,781
234. 64
234.82
234.82
234. 77
234.71
234.87
235.19
235. 33
236. 33
236.40
236. 26
2,162
180
2,611
215
2,154
184
2,438
171
'2,462
149
3,047
184
2,778
233
3,153
262
2,752
234
2,632
221
2,696
266
817
892
617
660
765
834
877
1,763
1,144
1,748
1,760
1,038
1,866
1,590
932
1,684
383
224
350
483
249
458
22,903
7,401
2.420
183
672
595
491
293
1,654
60.1
595
620
505
386
1,492
52.7
65.6
1,198
1,057
943
282
2, 716
95.5
4,250
125
243
459
422
674
1,481
6,819
6,658
110
210
474
556
650
6,832
5,330
5,402
152
292
561
587
745
4,916
5,658
6,640
221
465
776
22
981
6,768
6,762
35, 397
40, 309
38, 288
51,027
43, 629
44,805
40,644
33,133
45,660
54, 801
58,826
50, 456
.0713
.0713
.0703
.0688
.0702
.0713
.0713
.0950
.0950
.0948
1,460
359
1,101
1,783
531
1,252
1,380
338
1,042
1,602
425
1,177
1,749
611
1,137
1,613
517
1,096
1,999
629
1,370
3,133
741
2,392
2,635
789
1,846
2,456
794
1,661
2,034
634
1,400
2,322
672
1,650
23, 807
11, 634
10,509
27, 364
19, 365
18,450
28,162
20, 651
19, 728
36, 303
19,040
18,128
39, 350
23, 248
21, 992
35,168
21,123
18,646
45,840
16,176
15, 582
35,696
17,015
16, 664
26,806
15, 360
13,012
41,049
19, 937
17,451
62, 505
29,545
27,672
63, 775
31,558
29,869
146
979
105
810
180
742
903
184
1,072
135
2,342
136
459
128
224
1,464
885
1, 364
1,122
1,395
478
1
.1103
.1103
.1027
.0983
.0978
.1026
.1164
.1222
.1228
. 1228
.1195
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
0)
763
814
565
188
NONFERROUS METALS AND
PRODUCTS
Metals
Aluminum:
Imports, bauxite§
long tons..
54,651
Price, wholesale, scrap, castings (N. Y.)
dol. per lb_.
.0925
Babbitt metal (white-base antifriction bearing
metals):
Consumption and shipments, total
thous. of l b . .
1,749
Consumed in own plants
do
429
Shipments
do
1,321
Copper:
Exports, refined and manufactures §
40, 745
short tons..
Imports, total §
do
30, 538
For smelting, refining and exports§..do
Product of Cuba and Philippine Islands
1,026
short tons..
814
All other §
do
Price, wholesale, electrolytic (N. Y.)
.1115
dol. per lb..
Production:
Mine or smelter (incl. custom intake)
76,194
short tons..
82,761
Refinery
do
72, 809
Deliveries refined, total
do
63,215
Domestic
do
9,594
Export
do
145, 393
Stocks, refined, end of month
do
Lead:
Imports, total, except manufactures (lead content) §
short tons..
2,958
Ore:
35,937
Receipts, lead content of domestic ore. do
Shipments, Joplin districts
do
3,110
r
60,707
61, 752
58,600
62, 548
59, 452
66, 718
68, 536
58, 368
51, 577
55,025
46, 667 63,894
48,267
50,803
51, 225
42,484
3,310
4,222
12, 669
4,183
309,119 320, 812 332, 513 337,155
15,485
31, 593
6,314
13, 257
31,748
3,926
16, 593
30,614
3,734
10, 961
33, 589
4,692
5,179
32 300
4^ 104
3,864
31, 268
3,491
r2
408, 775
2379,841 r 80,501
2536,899 •104,545
2457, 315
91,428
2 79,584 r 13, 117
3
159, 485 135.441
3,019
4,391
4,063
2,762
4,164
4,496
35,063
4,484
35, 612
3,415
35, 936
4,380
37,057
6,355
38,835
4,234
37, 649
3,710
3
Revised.
i Monthly data not available.
Total for August-December.
End of December.
• Data are for 46 identical manufacturers; beginning January 1938 data are available from the reports of the Bureau of the Census for 26 additional small establishments.
JData for March, May, August, November 1939, and January 1940 are for 5 weeks; other months, 4 weeks.
§Revised series. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.
fsteel shipments have been changed from a gross to net tonnage basis; monthly data beginning 1929 appear in table 21, p. 18 of this issue. Data lor porcelain enamel
products
beginning 1937 are for 55 identical manufacturers and replace the series lor 19 manufacturers formerly shown. Beginning January 1939 the Census reports contain
for
FRASER
data for 44 additional establishments. Data on the series for 55 manufacturers not shown on p . 49 of the March 1940 Survey will appear in a subsequent is<uic.
Digitized
2
59, 672
54,850
61,719
57, 339
63,862
75, 808
53, 573
59, 681
10, 289
16,127
335,012 316, 543
50
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, to- 1940
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 1940
1939
1940
July
SepNovem- Decem- January
tember October
ber
ber
August
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND
PRODUCTS—Continued
Metals—C ontinued
Lead—Continued.
Refined:
Price, wholesale, pig, desilverized (N. Y.)
dol. perlb_. 0.508
Production from domestic ore,.short tons.. 40, 564
39,176
Shipments (reported)
do
72, 658
Stocks, end of month
do
Tin:
Consumption of primary tin in manufactures
long tons..
6,600
Deliveries
do
6,499
Imports, bars, block, etc
do
Price, wholesale, Straits (N. Y.).dol. perlb.. .4594
33,148
Visible supply, world, end of mo.f-long tons..
2, 078
United States (excluding afloat)
do
Zinc:
Ore, Joplin district:!
Shipments
short tons.. 28, 026
3,551
Stocks, end of month
do
Price, wholesale, prime,western (St. L.)
dol. per Re- .0553
production, slab, at primary smelters
short tons.. 54, 532
Retorts in operation, end of mo
number.. 47, 188
Shipments, total
short tons.. 53, 048
67,086
Stocks, refinery, end of mo
do
0. 0481
36,391
34,421
122,112
0.0482
37,790
40,871
122,035
0. 0478
36, 704
37, 903
123, 394
0.0475
43, 026
40,124
129, 270
0.0480
37,237
38, 710
129,636
0.0485
34,926
42,636
124, 017
0.0504
36,556
45,025
117,985
0. 0545
35, 086
59,889
97,473
0.0550
38,903
66, 060
73,963
0. 0550
44,748
64,365
58, 061
0. 0550
42, 547
44, 881
58, 777
0. 0547
47,149
39, 875
68, 539
4,410
4,105
5,097
.4562
40,035
5,486
5,270
4,755
5,208
.4621
37, 788
5,806
5,190
5,980
3,814
.4720
37, 224
3,385
5,920
5,905
5,118
.4902
33, 715
3,387
5,780
4,925
6,020
.4885
30, 039
4,388
5,240
5,275
6,179
.4852
29, 615
5,339
5,900
6,295
4,735
.4876
26,338
3,613
6,570
5,050
4,427
.6350
31,168
3,413
7,630
6,040
5,247
.5525
38, 206
3,536
7,540
7,870
7,629
.5224
38,035
3,283
6,940
11,366
12,518
.5064
38, 280
3,302
6,380
9,780
8, 851
.4672
35, 573
1,749
33,220
8,652
35,189
10, 503
31, 049
9,294
39,733
7,851
31,212
6,749
26, 248
7,601
35, 748
9,503
30, 285
9,958
36, 734
7,204
41,663
9,701
28,163
13, 548
35,611
4,097
.0450
.0450
.0452
.0472
.0610
.0650
.0650
.0598
.0564
39,450
42, 302
36,291
36, 331
37, 284
39, 607
133, 075 3135,241
39, 669
35,491
43,128
131,782
40,960
34,443
49,928
122,814
42,225
37,729
69,424
95,615
50,117
43,109
73,327
72, 405
53, 524
46,867
64,407
61,522
57, 941
48,159
53, 468
65, 995
57,158
47, 287
57,551
65, 602
.0450
.0450
.0450
39,613
39,459
39,828
128,192
45, 084
38, 251
45, 291
127,985
43, 036
38, 763
40,841
130,380
4,662
8,161
5,818
14,571
4,657
14,037
4,543
12,688
5,026
11, 065
5,035
14,625
6,006
15,542
7,539
22,499
8,993
17,878
8,497
13,459
5, 521
11, 436
5, 851
8,214
1,419
1,505
1,330
1,554
1,577
1,532
1,721
2,109
1,992
1,820
1, 514
1,668
Miscellaneous Products
Brass and bronze (ingots and billets):
Deliveries
short tons _. 5,799
17, 500
Orders, unfilled, end of month
do
Plumbing fixtures, brass, shipments
thous. of pieces.. 1,735
Radiators, convection type, sales:
Heating elements only, without cabinets or
30
grilles
thous. of sq. ft. heating surface-.
Including heating elements, cabinets, and
392
grilles
thous. of sq. ft. heating surface..
.183
Sheets, brass, wholesale price, mill -dol. per lb__
Wire cloth (brass, bronze, and alloy):
363
Orders, new
thous. of sq. ft..
1,216
Orders, unfilled, end of month
do
476
Shipments
do
627
Stocks, end of month
do
26
47
62
101
138
125
68
105
80
94
75
418
.173
497
.173
546
.170
717
.165
814
.165
657
.167
787
.168
986
.183
891
.190
870
.191
591
.193
450
.191
352
805
404
504
484
853
427
532
347
768
422
549
481
830
413
560
366
750
444
582
468
823
392
624
413
793
439
637
1,270
1,513
547
593
1,178
2,125
564
638
329
1,829
616
612
343
1 593
'567
616
391
1,343
637
585
MACHINERY AND APPARATUS
Air-conditioning systems and equipment:!
Orders, new:
2,674
4,803
4,691
Total
thous. of dol._
4,527
4,979
6,121
5,931
4,657
5,743
4,954
4,493
0)
0)
1,205
2,865
Air-conditioning group
do
3,014
3,322
2,818
3,193
3,901
2,631
3,328
2,498
2,702
0)
0)
821
1,073
955
1,387
Fan-group
do
1,509
1,336
1,422
1,327
1,318
1,310
980
(22)
(2)
864
648
558
1,412
Unit-heater group
do
521
690
993
546
1,146
468
811
()
Electric overhead cranes:
Orders:
250
201
New
do
284
823
844
274
438
434
569
383
445
414
400
1,743
1,131
993
1,504
2,414
Unfilled, end of month
do
1,755
1,813
1,917
2,474
2,665
2,390
2,368
2,172
679
244
270
312
Shipments
do
174
347
280
215
719
375
378
435
593
Exports, machinery. (See Foreign trade.)
Foundry equipment:
Orders:
179.4
135.5
146.6
146.2
134.9
New
1922-24=100^.
108.9
131.6
184.4
220.6
114.0
203.6
165. 3
197.9
226. 5
175.1
193.6
Unfilled, end of month
do
208.6
173.1
159.2
123.1
174.9
135.6
224.7
257.8
222.4
231. 2
181.2
112.2
Shipments
do
128.1
144.3
143.8
131.0
148.5
135.5
132.6
170.1
200.1
170.7
193.2
Fuel equipment:
Oil burners:
Orders:
7,981
11, 806
17,901
22, 748
New
number.. 11, 239
11,346
15,284
17,838
36, 279
33,657
18, 758
12, 566
13,10S
2,767
3,340
4,475
Unfilled, end of month..
do
5,181
5,456
6,451
5,040
6,952
5,967
4,966
3,639
3,050
2, 905
11, 522
7.674
10,671
Shipments
do
10,640
15,009
17, 337
16,906
24, 660
35,352
34, 658
20,085
12, 963
13,300
15, 547
21, 790
Stocks, end of month
do
22,850
21,619
20, 214
18,854
16,460
16,675
19,947
19,642
18,165
17,144
16, 764
20
33
23
11
Pulverizers, orders, new
do
10
53
38
8
17
14
45
11
6
Mechanical stokers, sales:
3,307
2,426
3,733
3,473
Classes 1, 2, and 3
do
5,078
7,676
14,833
9,335
20,161
18,040
8,225
4,762
3,931
Classes 4 and 5:
149
186
Number
168
164
267
439
279
215
376
376
266
128
207
38,932
34,811
Horsepower
32, 540
56,419
63,899
49,255
63, 264
51,673
28, 591
86, 714
51,735
25, 515
39, 038
Machine tools orders, newt
167.1
185.4
av. mo. shipments 1926=100-.
230.9
155.6
211.6
206.5
219.8
0)
0)
0)
0)
0)
0)
Pumps and water systems, domestic, shipments:
Pitcher, other hand, and windmill pumps
u n i t s . . 38,540
42, 693
31,485
38,468
44, 216
55, 048
52, 336
52,897
47,439
43,908
35,961
29, 441
40, 292
662
740
732
Power pumps, horizontal type
do
1,463
731
953
964
1,138
860
949
792
976
1,396
14, 718
14, 259
16, 222
16,889
Water systems, incl. pumps
do
20, 773
23, 067
19,029
19,890
18,452
17,444
16,993
13, 389 • 17, 469
Pumps, measuring and dispensing, shipments:
Gasoline:
1,070
Hand-operated
units
1,005
1,582
1,129
1,346
875
1,601
736
962
768
741
612
776
6,304
Power
_
_-do.6,156
9,419
9,637
12,017
11,430
9,275
7,624
8,611
8,878
8,751
5,775
8,693
Oil, grease, and other:
10,578
11,982
13,078
13, 919
Hand-operated
do_.
15, 612
17, 085
14, 053
12,468
12, 554
14, 785
16, 086
9,659
14,417
3,106
2,981
3,544
2,449
Power
do-.
4,305
3,332
3,186
2,011
2,384
1,914
3,244
1,349
2,703
•• Revised.
»Discontinued by reporting source.
2 Data are available only on a quarterly basis.
tRevised series. Air-conditioning data have been revised in their entirety, to exclude chiefly data on air-conditioning systems primarily for winter use. Data on
the fan and unit-heater groups will be available on a quarterly basis in the future. Data for summer and year-round air-conditioning will be shown in a subsequent issue.
World visible supply of tin revised beginning January 1935 to include stocks of refined tin at all European smelters; data not shown on p. 50 of the November 1939 Survey will
appear in a subsequent issue.
IData for March, May, August, November 1939, and January 1940 are for 5 weeks; other months, 4 weeks.
%A new series based on the operations of manufacturers accounting for about 60 percent of the total dollar sales of machine tools has been compiled beginning January 1939.
Available
data are as follows (percent of capacity): 1939—Jan., 52.5; Feb., 56.1; Mar., 58.7; Apr., 61.2; May, 63.6; June, 65.5; July 65.8; Aug., 72.6; Sept., 74.6* Oct, 84 9* Nov ,
91.2; D e c , 93.3; 1940—Jan., 93.3; Feb., 92.9.
51
SURVEY OF CURRENT BUSINESS
April 1940
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey
ary
1940
1939
February
March
April
May
June
July
August
September
DecemOctober November
ber
January
METALS AND MANUFACTURES—Continued
MACHINERY AND APPARATUS-Con.
Pumps, steam, power, centrifugal, and rotary:
Orders, new
thous. of doL.
1,147
Water-softening apparatus:
Shipments, domestic...
units..
1,159
Woodworking machinery:
Orders:
Canceled
thous. of doL.
New
_
do
Unfilled, end of month
do
Shipments:
Quantity
...number of machines..
Value
thous. of doL.
ELECTRICAL EQUIPMENT
Battery sales (replacement only):*
Unadjusted
1934-36=100..
Adjusted
do
Electrical products:*
Industrial materials, sales billed...1936= 100..
Motors and generators, orders received. .do
Transmission and distribution equipment,
orders received
1936=100..
Furnaces, electric, industrial, sales:
Unit
kilowatts..
5,634
Value
thous. of dol..
324
Electrical goods, new orders (quarterly)
thous. of dol..
Ironers, household, shipments*
units.. 10,183
Laminated products, shipments..thous. of dol .
1,173
Motors (1-2001 tip.):
Billings (shipments), A. C
do
Billings (shipments), D. C
do
New orders, A. C
do
New orders, D. C
do
Power cable, paper insulated, shipments:
561
Unit
thous. of ft_.
641
Value
..thous. of dol..
Power switching equipment, new orders:
Indoor
dollars..
0)
Outdoor
do
0)
Ranges, billed sales
thous. of dol..
2,510
Refrigerators, household, sales
number.. '230, 928
Vacuum cleaners, shipments:
116,049
Floor
do
28, 324
Hand-type
do
Vulcanized fiber:
2,356
Consumption offiberpaper
thous. of lb..
589
Shipments!
thous. ofdoL.
Washers, household, shipments *
units . 142, 318
1,282
1,258
1,230
1,236
1,673
1,090
1,585
1,469
1,809
1,339
1, 049
1,011
1,082
1,698
1,122
1,217
1,282
1,306
1,236
1,512
1,450
1,481
1,201
1,154
14
410
836
1
445
5
393
923
)
484
898
)
417
905
5
438
980
29
432
948
5
620
1,145
1
571
1,206
652
1,346
518
1,364
216
422
209
384
152
360
216
510
224
411
157
357
269
435
218
418
288
509
232
505
261
492
78
122
73
121
72
132
84
151
111
163
133
139
176
132
239
154
219
129
165
118
99
87
90.8
99.3
80.5
77.5
84.1
77.5
86.6
87.8
91.6
94.3
98.5
116.4
123.0
136.5
132.0
125.1
' 121.9
161.7
' 122. 5
'97.7
r 111.2
'97.8
115.3
' 103.2
' 146.5
151. 6
137.3
123.6
121.3
4,681
215
1,934
161
2,789
194
3,228
213
1,332
97
1,921
182
3,279
291
6,103
438
4,153
368
9, 587
480
2,084
167
9,047
830
8,433
849
205, 567
7,216
901
7,741
805
11,386
212,001
10, 565
1,019
11,161
1,296
9,990
1,348
254, 302
11,854
1,306
10, 373
1,257
2,053
519
2,319
428
2,410
574
2,504
549
2,053
538
2,128
406
2,398
524
2,595
569
2,361
474
2,725
1,102
2,535
555
3,151
1,403
2,730
677
3,276
1,047
3,103
797
3,472
1, 867
2,733
582
2,417
813
752
656
655
731
554
721
79.2
67.8
' 102. 7
1,235
' 9,601
812
197, 654
11, 607
78.2
76.0
r
r
()
488
1,449
188
402
122.6
97.3
1,508
449
1,762
404
2,050
557
2,356
739
1,986
534
2,062
546
353
312
637
700
696
566
674
652
718
716
773
783
860
676
781
1,074
824
47, 458
223, 286
2,103
198, 528
87,019
197,175
2,263
251, 644
75,161
279,093
1,939
260, 204
89,809
346, 530
2,395
273,966
92, 347
217, 846
2,025
268, 848
90, 302
283, 614
1,428
164, 211
67, 963
259, 436
1,799
94, 734
71, 449
240, 535
1, 891
73,149
88,485
321,761
1,714
62,055
126, 480
355,056
1,442
55,113
64,153
272, 658
1,019
92, 479
2,832
234, 662
87,140
25,182
122, 785
29, 470
100, 487
24, 539
91, 055
23,322
80, 660
19,014
61, 492
15,197
74, 333
22, 268
93,851
26, 857
106, 539
31, 362
108, 338
32, 728
118,730
36, 471
92, 806
27, 362
1,561
470
129, 835
2,070
528
152, 725
1,575
466
116,199
1,749
458
105, 266
1,735
441
120,076
1,725
437
104, 817
1,971
528
132, 297
2,284
548
138, 992
2,722
660
830
2,594
748
102,990
2,492
854
77, 270
2,808
660
119,228
142,
0)
0)
PAPER AND PRINTING
WOOD PULP
Consumption and shipments: • f
Total, all grades
short tons.
Chemical:
Sulphate
do...
Sulphite, total.
do...
Bleached
do._.
Unbleached
do...
Soda
do._.
Groundwood
_do...
Imports:
Chemical
do...
Groundwood
do___
Production: f
Total, all grades
do.._
Chemical:
Sulphate
do...
Sulphite, total
do._.
Bleached
do...
Unbleached
do...
Soda
do...
Groundwood
do...
Stocks, end of month: f
Total, all grades
do...
Chemical:
Sulphate
do...
Sulphite, total
do...
Bleached
do...
Unbleached
do._.
Soda
do._.
Groundwood
do.._
Price, sulphite, unbleached
dol. per 1001b.
PAPER
Total paper:f
Paper incl. newprint and paperboard:
Production
short tons.
Paper, excl. newsprint and paperboard:f
Orders, new..
.short tons.
Production
_.do--.
Shipments.
do...
502,100
566, 500 545, 000 541,000
519, 500 513, 000 572, 300 615, 300 683, 900 680, 300 677, 300
219, 300 250,900 241, 400 223, 400 221, 300 228, 200 256, 800 262, 900
136, 600 155, 500 148, 300 152, 000 146, 800 143, 300 154,100 187, 500
96,300 119, 000
91,100
90,600
84, 600 96, 300 92, 900 93,800
52,000
56, 200 52, 200 57, 800 68, 500
59, 200 55, 400 58,100
34, 800 38, 300 36, 300 37,100
33, 200 31, 200 36, 300 39,900
111,300 121, 800 118, 900 128, 500 118, 200 110, 300 125, 200 125, 000
144,104
14, 723
296, 700
207, 200
130, 700
76, 500
47,100
133, 000
292,100
207,800
130, 200
77, 600
47,300
133, 000
301, 500
198, 900
124, 300
74, 600
48, 600
128, 300
140,131 152, 719 137, 431 130,920 136,843 194, 615 249, 886 204,993 242,972
19, 694 19, 649 23, 574 21, 527 22,163
30, 465 19,199
18, 562 17,403
501, 879 563, 029 538, 867 551, 778 524, 521 490, 111 554, 811 576, 225 673, 634 672, 813 678, 521
103, 504 117, 800
7,312
17,326
78,534
9,867
219, 838 250, 907 232, 760
132, 640 148, 614 141, 941
79, 212 92, 004 87, 699
53, 428 56, 610 54, 242
34, 271
36,131
115,130 125, 425 128,035
213, 500 210,000
47, 600
100,800
61,700
39,100
4,400
60, 700
2.00
47,600
93,900
57,400
36,500
4,200
64, 300
1.95
220, 440 220,435 226, 482 254, 379
161. 362 153, 288 132, 410 158,172
96, 678
102, 828 96, 678 82,164
56, 610 50, 246 61, 494
58,534
38, 316 34, 363 29, 574 36, 410
131, 660 116, 435 101, 645 105, 850
294,912
205, 394
129, 396
75, 998
46, 453
126, 875
203, 900 214, 700 219, 700 196, 800 179, 300 140, 200 129,900
39,000
87, 500
52, 200
35, 300
4,000
73, 400
1.95
35,100
36,000
96, 900 103, 400
61.200
67, 300
35, 800 36,100
5,200
6,400
76,600
74, 800
1.95
1.95
'872, 883 ! °l,035,675 «912, 264'959, 841
'467,624
«463,212
459,080
256, 731
171,090
108, 486
62, 604
39, 944
108, 460
33,400
92,500
58,400
34,100
4,800
66,100
1.95
31, 000
96,600
58,800
37, 800
4,900
46, 800
1.95
24, 800
80, 200
48,300
31, 800
4,900
30, 300
2.13
23,000
78,400
47,000
31,400
4,300
24, 200
2.28
290, 920
207, 339
130,749
76, 590
47, 244
127, 310
297,182
198, 575
124, 353
74, 222
48, 639
134,125
122, 400 123, 600
21,800
77, 900
47, 500
30, 400
4,200
18, 500
2.28
17,500
77,600
47, 600
29, 900
4,200
24,300
2.51
'8, 307 '861, 310 '1,046,459 1,027,542 1,073, 9611,046, 687 971,482
2.83
992,
359
426, 342 416,102 419, 814
484, 993 464, 540 477, 338
487, 467 463, 241 454, 950
Not comparable with current data.
»542, 328 '436, 418 477, 034 '454,900 "429,745 '535, 601 >737,095 506, 885
>534,170 •461, 887 «498,197 '441,236 a419, 773 '523, 233 *504, 846 488, 904
*541, 722 •447, 565 °479,108 •449,987 "437,246 *519, 276 '532, 220
1
b
•Pulp used in the producing mills and shipments to the market.
' Revised.
Less than $500.
0) Data discontinued by reporting source.
*New series. Data on battery sales beginning 1934 appear in table 35, p. 17 of the August 1939 issue. Shipments of household washers and ironers beginning 1929 appear
in table 43, p. 17 of the October 1939 issue. For data on electrical products beginning 1934, see table 32, p. 18, of the June 1939 Survey; data are furnished by both member and
Qonmember companies rather than member companies alone as therein stated.
t Revised series. Data on vulcanized fibre shipments revised beginning 1934; data not shown on p. 51 of the January 1939 Survey will appear in a subsequent issue.
Data on total paper, and paper, excluding newsprint and paperboard revised beginning 1934. Previously reported data were distributed into months of 4 and 5 weeks. In
the new series, the overlapping weeks have been prorated between the two months involved. These data also have been revised to exclude data on kraft board (previously
reported in both paper totals) since it is already included in the data for paiwboard. Revisions prior to October 1939 will be shown when available. Wood pulp data have
been revised beginniug 1937. Revisions not shown above will appear in a subsequent issue.
52
SURVEY OF CUEEENT BUSINESS
April 1940
1940
1939
Monthly statistics through December 1937, to- 1940
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
August
September
DecemOctober November
ber
January
PAPER AND PRINTING—Continued
PAPER—Continued
Book paper :f
Coated paper:
Orders, new
short tons,-.
Orders, unfilled, end of month
do
Production
do
Percent of potential capacity
Shipments
.short tons..
Stocks, end of month..
do
Uncoated paper:
Orders, new
do
Orders, unfilled, end of month
do
Price, wholesale, " B " grade, English finish, white, f. o. b. mills_.dol. per 100 lb_.
Production
short tons..
Percent of potential capacity
Shipments
short tons..
Stocks, end of month J
do
Fine paper:f
Orders, new
do
Orders, unfilled, end of month
do
Production
do
Shipments
..do
Stocks, end of month
do
Wrapping paper:f
Orders, new
do
Orders, unfilled, end of month
do
Production
do
Shipments
do
Stocks, end of month
do
Newsprint:
Canada:
Exports
do
Production
do
Shipments from mills
do
Stocks, at mills, end of month
do
United States:
Consumption by publishers!
do
Imports^
do_.._
Price,rolls (N. Y.)
dol.per short ton.
Production
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 month
do...
Production
do
Percent of capacity
_..
Waste paper stocks, at mills
short tons.
15,105
4,084
14, 925
55.5
15, 667
15, 966
17, 911
3,851
17, 796
71.6
17, 642
12, 472
19, 553
4,060
20,028
71.7
19,893
12, 581
16,305
3,238
17, 764
68.6
17, 885
12, 433
17,126
2,861
18, 579
66.5
17, 409
13,762
15,920
3,205
17, 425
64.8
15,946
15, 213
16,098
3,866
14, 471
55.9
15, 282
14, 265
17, 281
3,846
19,663
70.4
18,226
15, 661
33,887
12,862
19,401
75.0
20,440
13,807
85, 546
41, 760
90, 926
38,138
103,952
37,394
93.841
39, 237
85, 786
28,184
92,637
33, 393
81, 359
29, 978
110,930
41,211
5.95
100, 090
83.1
95, 403
59, 876
5.45
93,212
80.7
92, 963
5.45
103,808
79.8
105,256
5.45
91,571
77. 1
90, 376
5.45
98,364
76.9
91,523
59, 431
5.45
90, 662
73.4
87, 680
61,913
5.45
81,972
68.0
84, 655
58,976
34, 896
11,748
30, 427
a
3i5,5l7
58, 655
« 48, 207
* 14, 928
<* 44, 541
« 45, 671
« 57, 527
o 33, 882
»12, 280
« 37, 991
a 36, 935
a 59, 443
« 37, 294
« 9, 523
" 43, 043
a 41, 166
« 61, 504
« 31, 538
« 8, 796
a 33, 491
a 32, 216
" 62, 669
a
163, 622
71, 599
'161,510
159,334
'129, 835
'186,433
« 62, 718
*194, 280
'195,555
l
126, 936
'145, 740
« 5.8, 629
459, 353
'152, 265
'132, 148
al86, 710
" 64, 050
«184, 727
*180, 344
«136, 617
187,990
231, 823
211, 322
196, 762
152, 437
200, 631
178,236
190,363
217, 651 162, 352
220,648 220, 843
205,099 214,255
205,912 212, 500
14, 532
4,154
20, 938
80.9
20, 898
16, 151
14,998
3,757
16, 227
56.4
16, 136
16, 665
154, 604
79, 436
125, 564 101,097 102, 430
84,515
68, 694 61, 368
91, 400
47, 479
5.45
102,037
78.4
100, 339
60, 729
5.45
104,068
86.4
111,409
50,827
5.65
122,283
97.6
122,901
50,797
5.70
117,290
93.6
117,079
51,010
5.95
5.89
110,731 109, 936
91.9
84.4
110,950 103, 999
51, 783 55, 249
» 30, 967
«10, 827
a 29, 342
« 29, 691
a 60, 539
« 40, 831
a10, 470
« 43,122
« 42, 448
°61 132
« 74,053
a 41, 103
a 40, 941
a 42, 303
a 59, 739
47, 507
40, 802
48, 000
50, 035
57, 752
37.131
28, 444
48, 824
47, 534
58, 878
35, 057
38, 2S2
22,011
16.430
44,850 | 45,516
42, 757
43, 357
61,110
62,462
°146, 404
« 64,100
al40,193
«147, 601
"128, 990
al40, 746
" 59, 354
«135, 976
al42,166
"115,283
"195, 375
a 67, 038
al87, 921
"191,030
"112, 542
"265, 252
"151,552
"109, 259
"178, 678
"111, 603
178,743
142, 261
174.809
180, 657
91, 201
155,156 150,064 i 147,507
108. 704 93,528 I 77,850
176, 037 165,575 j 173,923
183, 087 168,305 I 103,709
80, 603 78,219 j 86,656
244, 400
250,015
274, 635
187, 880
244, 655
240, 545
232, 261
196,164
200,174
227, 630
221, 743
202,051
235,487
236,975
224, 367
214, 659
228,163
253,230
267,005
200,884
270, 493
280,985
289. 260
192, 609
253,997
288, 726
287,869
193, 466
216, 095
181, 344
50.00
81, 455
79, 972
200,314 I 231,746 238,113 231, 788
144,308 189,360 209,597 250,668
50.00
50.00
50. 00
50.00
70,868
79, 929 77, 393 85, 872
71, 926 81,616
77,463
84, 443
224.240
216', 580
50.00
80, 502
84, 628
198,438
201,991
50.00
74,932
75, 354
206,108
195, 644
50.00
80,000
79,060
238,667
250,005
50.00
77, 309
78, 559
257, 578 240,571 254, 781 218,488
282, 581 261,667 230. 094 198, 760
50.00
50.00
50.00
50.00
78, 591 78, 886 77, 836 84, 126
78, 283 80, 959
79, 304 81,410
17, 602
278, 306
38, 061
20,065
21, 822 20,135
21, 494
251,041 223, 469 206,744 229,142
13, 623 32, 580 37, 253 39, 251
17.428
231,105
47, 737
17,006
252. 625
43,459
17. 946
277, 624
41,484
16,696
283,315
47,815
12, 952
15, 923 13,399
285, 333 295, 075 284, 283
50,073
50, 704 43, 948
16, 119
285,776
42, 760
265, 066
367,897
115, 266
399, 970
70.8
241, 242
247,710 292, 474 262, 918
338,030 429, 545 347, 575
112,801 124, 420 97, 340
338, 803 421, 576 372. 984
69.1
67.8
73.4
262, 344 248, 595 255, 354
264,348
372, 893
93,643
375, 772
64.2
259, 423
259,996
383,371
95, 058
376, 509
00.6
255, 677
255,830
382, 682
108, 427
366, 605
63.9
257, 889
314,316
454, 817
119, 502
443, 226
72.4
246, 219
320,073
628, 272
290, 467
445, 387
75.5
214, 352
365,396
497, 834
285, 935
506,466
85.6
218,649
339, 335
414,224
204, 8C0
482, 808
81.8
215,850
283, 228
393,123
173,212
429, 106
72.6
247, 393
280, 033
398, 125
140, 269
430, 895
72.1
237, 490
a
24,108
12,971
24, 573
91.3
24, 516
13, 897
15, 754
8,853
24,464
90.9
22, 864
16,134
255, 259
240, 656
264, 620
169, 502
225, 752
251, 032
244, 273
176, 261
PAPER PRODUCTS
Coated abrasive paper and cloth:
Shipments
reams,
Paperboard shipping boxes:
Shipments, total
mil. of sq. ft.
Corrugated
do...
Solid
fiber
do.._
86, 712
77, 477
85, 778
85, 267
80, 246
80,115
76, 903
86, 401
94,993
102,186
87, 504
74, 389
90, 003
2,304
2.145
159
2,827
2, 640
187
2,395
2,218
177
2,627
2,430
197
2,624
2,388
236
2,444
2,242
202
2,635
2,911
276
2,815
3,059
244
3,414
3,171
243
2,997
2,820
177
2,552
2,370
183
2,615
2,444
171
876
691
185
945
803
142
1,222
1,043
179
835
708
127
636
537
99
798
669
129
746
619
127
1,204
966
238
882
772
110
885
786
99
952
819
133
681
569
112
107, 557 128, 508 108, 597 116,935
87
92
86
84
16,041
16, 286 16,889
16, 498
128,583
81
16, 406
112,194
76
16, 549
126, 552
78
17,414
137, 299
78
18,947
162, 230 144, 291 134, 664
82 ,
77
19,387
15,596
20,284
PRINTING
Book publications, total
no. of editions.
New books
do...
New editions
do...
Continuous form stationery, new orders
thous. of sets.
Operations (productive activity)
1923 = 100.
Sales books, new orders
thous. of books_
1,023
805
218
129,162
140, 463
18, 361
RUBBER AND PRODUCTS
CRUDE AND SCRAP RUBBER
Crude:
Consumption, total
long tons... 49, 832
For tires and tubes (quarterly)
do
43, C
Imports, total, including latexf
do
.188
Price, smoked sheets (N. Y.)
dol. per lb_.
Shipments, worldf
long tons_.
Stocks, world, end of month
..do
Afloat, total
do
112, 257
For United States
do
London and Liverpool
do
86,223
British Malaya
do
148, 776
United States
do
Reclaimed rubber:
17, 019
Consumption
__do
19, 060
Production
do
27, 019
Stocks, end of month.
do
Scrap rubber:
Consumption by reclaimers (quar.)
do
r
42, 365
50,165
99,039
45,725
.163
76, 932
461,000
102,000
55,981
72, 235
81, 274
205, 214
44,166
44,377
50,481
54, 322
45, 886
.166
70, 750
430,000
96,000
54,046
66,020<
74, 308
193, 651
37, 372
.165
84,378
419,000
105,000
52, 990
57, 234
83,010
173, 395
38, 586
.167
92,000
397,000
120,000
66.717
44, 917
71,195
161, 233
50,150
102, 646
37, 642
.213
88,000
397,000
134,000
68,310
39, 359
76,228
147, 280
55, 764
32,031
.159
73,742
438,000
99,000
57, 918
68, 931
77,683
192, 638
47.259
96,033
34, 363
.164
64, 298
408,000
88,000
51, 274
63, 878
75,419
180,343
43,880
31,038
.159
77,473
480,000
106,000
55, 814
75, 517
87,968
210,093
45, 622
.199
115,000
413,000
173,000
100.500
37,361
71,662
131,251
42, 586
.202
86.000
395,000
171,000
114,044
36, 671
69,139
118,407
12, 626
13,093
21,390
15, 322
14, 528
19,955
13,391
14, 527
22, 628
13, 517
14, 769
22, 771
14.870
15.871
23,058
13, 542
12, 588
21,339
16, 846
17, 214
20, 645
16,953
17, 990
21,185
18,955
20,896
21,829
18,006
20,755
22, 362
36, 496
34, 204
48, 428
54, 978
115, 695
71, 395 ""72," 496
.196
.200
88, 000 108, 000
393, 000 448, 000
152, 000 175, 000
90, 285
91, 095
20, 000
31, 000
70,214
96, 478
140, 281 156, 822
15, 575
19, 249
25, 427
17. 596
20. 447
25, 530
38, 321
a
Revised.
§ D a t a revised for 1937; see table 20, p . 15, of the April 1939 Survey.
N o t comparable with current data.
JChange in inventory due to physical check-up. Figures shown in earlier issues for m o n t h s prior t o M a y 1939 are not comparable with present data.
{Revised series. F o r book paper, see note m a r k e d with a " t " on p . 51 of t h e J u l y 1939 Survey. Stocks of newsprint at publishers, a n d in transit to publishers, revised
for 1937 a n d 1.938; revisions n o t shown on p . 52 of t h e April 1939 Survey will appear in a subsequent issue. C r u d e r u b b e r i m p o r t s revised beginning 1913 to include guayule
rubber a n d world shipments of rubber revised beginning J a n u a r y 1938; Revisions not shown on p. 91 of t h e F e b r u a r y 1940 Survey will appear in a subsequent issue. Newsprint
consumption has been revised to cover reports from 431 newspapers through 1939 a n d beginning 1940, 421 newspapers, replacing t h e series for 422 newspapers formerly shown.
Earlier m o n t h l y d a t a are shown i n table 6, p . 10 of t h e M a r c h 1940 Survey. D a t a for fine a n d wrapping papers have been revised beginning 1934 to change d a t a from 4- a n d
5-week totals to calendar-month figures b y prorating t h e overlapping weeks. Wrapping paper has also been revised beginning 1934 to exclude d a t a for specialty paper a n d
boardsfrom this classification. These data are still included in total paper excluding newsprint a n d paperboard. Revisions prior to October 1939 will be shown when
available.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
53
SURVEY OF CURRENT BUSINESS
April 1940
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey
ary
1940
1939
February
March
April
May
June
July
August
September
DecemOctober November
ber
January
RUBBER AND PRODUCTS—Continued
TIRES AND TUBES
Pneumatic casings :f
Production
thousands..
Shipments, total
do
Original equipment*
do
Replacement equipment*
do
Exports*
___do
Stocks, end of month
do
Inner tubes :f
Production
do
Shipments, total
do
Exports*
do
Stocks, end of month
do
Raw material consumed:
Crude rubber. (See Crude rubber.)
Fabrics (quarterly)
thous. of lb_.
4,911
4,118
1,974
2,043
101
10,157
' 4,233
r 3, 640
r 1,474
* 2,055
111
9,573
5,137
4,583
1,747
2,723
113
10,109
4,211
4,356
1,529
2,719
108
4,418
4,753
1,415
3,239
100
9,919
4,870
5,750
1,370
4,267
113
8,909
4,510
5,056
809
4,162
85
8,300
5,492
4,919
611
4,205
103
5,007
5,621
1,249
4,227
146
8,364
5,431
5,188
1,805
3,237
146
8,657
4,867
4,244
1,823
2,273
148
9,244
4,479
4,740
2,618
1,987
135
4,977
4,277
1,805
2,367
105
9,389
4 211
3,810
71
7,897
rr 3, 733
3, 392
65
8,415
4,470
4,015
74
8,901
3,841
3,927
82
8,837
3,848
4,154
67
8,840
4,320
5,123
66
8,044
4,043
4,285
62
7,819
4,918
4,432
65
8,238
4,512
5,025
98
7,846
5,073
5,012
108
7,717
4,51 I
3,940
127
8,214
3,824
4,443
92
7,174
4,289
3,827
76
7,634
5,332
5,916
14, 619
5,473
15,195
5,376
4,185
16,388
5,044
6,389
15,018
62, 737
62, 969
67.877
RUBBER AND CANVAS FOOTWEAR
Production, total
Shipments, total
Stocks, total, end of month
thous. of pairs.
do...
do...
5,062
4, 761
15, 319
4,953
4,629
16, 582
5,897
5,214
17, 281
5,216
4,414
18,083
5,033
4,017
19,055
4,866
4,192
19, 729
3,280
4,894
18,115
5,090
6,213
16,956
4,713
6,452
15, 218
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Price, wholesale, composite
Production
Percent of capacity
Shipments
Stocks, finished, end of month
Stocks, clinker, end of month
dol. per bbl.
thous. of bbl.
thous. of bbl.
do...
do...
C1)
0)
0)
1.667
5, 505
••26.9
5,044
24,092
5,986
0)
0)
0)
0)
0)
5.041
24.7
4,905
25,895
6,298
8,171
37.4
8,467
23, 786
6,447
9,674
45.7
9,654
23, 837
6,568
11,185
50.9
12,748
22, 251
5,728
11, 953
56.5
12, 715
21, 477
5,797
12, 644
57.9
11, 757
22, 361
5,928
12 369
56.6
13, 401
21, 326
5,727
11,937
56.3
13,104
20,160
5,254
12, 539
57.3
12, 829
19, 870
4,854
11, 053
52.2
10,147
20, 761
4,824
9,488
'42.9
* 6, 785
23, 449
5,165
6,205
28. 5
3,889
25, 759
' 5, 602
749
710
271
806
720
350
583
552
374
762
792
377
814
819
382
1,027
673
321
1,168
1,213
376
1,148
1,160
397
1,282
1,215
1,022
958
375
1,043
877
268
833
788
281
12. 024 12. 032
95,920 166, 380
455,859 397,838
12.026
178, 903
374, 572
12.077
209, 716
351,155
12.118
199,945
361, 264
12.059
177,165
393, 393
12.038
189, 287
416,302
12.036
167, 348
451, 390
12. 043
183, 201
466,150
12. 083
167, 329
468, 357
12. 080
129,252
483,173
12.112
58,868
504, 599
28, 785 57, 624
300, 546 290, 906
62, 982
277, 291
79, 349
256, 825
69, 489
252, 395
62, 658
248, 673
66,906
245, 967
62, 527
241, 785
64, 278
236, 784
54,127
243, 491
r
37, 645
257,469
15, 398
283,049
0)
0)
0)
0)
CLAY PRODUCTS
Bathroom accessories:
Production
thous. of pieces.
Shipments
do._.
Stocks, end of month
do_._
Common brick:
Price, wholesale, composite, f. o. b. plant
dol. per thous.
Shipments
thous. of brick.
Stocks, end of month....
do...
Face brick:
Shipments
do._.
Stocks, end of month
do...
Floor and wall tile shipments:*
Quantity..
thous. of sq. ft.
Value
.thous. of dol.
Vitrifled paving brick:
Shipments
thous. of brick.
Stocks, end of month.
do...
Hollow building tile:
Shipments
short tons.
Rfwks, end of month
do...
12.126
3,441
940
4,816
1,262
4,639
1, 208
4,692
1,274
5,103
1,413
4,899
1,337
6,172
1,635
5,439
1,473
5,511
1,478
4,868
1,337
4,271
1,173
4,028
1,092
2,007
48, 585
3,994
47, 336
3,612
45, 761
6,647
43, 002
6,844
44, 079
6,386
44, 214
9,038
44,169
8,149
43, 719
8,947
42,192
5,885
42, 261
r
2, 654
r 43, 384
1,098
42, 367
43, 643 72, 546
348, 792 340, 348
81, 994
327,847
105,173
307, 810
306, 435
95,180
305, 242
107, 771
319, 464
90,184
316, 376
89, 700
324,886
88, 422
339,038
' 67,659
362,492
38, 748
359, 274
4,071
65.4
3,978
8 ; 336
4,516
69.7
4,485
8,293
4,662
72.0
4,618
8,209
4,593
73.8
4,158
8,572
4,802
71.4
4,766
8,548
4,250
68.3
4,979
7,739
4,891
75.5
4,471
8,061
4,300
69.1
3,884
8,374
4,046
65.0
3,114
9,237
4,263
61.6
3,726
9,601
()
()
GLASS PRODUCTS
Glass containers:f
Production
.thous. of gross...
Percent of capacity
Shipments
thous. of gross..
Stocks, end of month
do
lluminating glassware:
Shipments, total
thous. of doL.
Residential
do
Commercial
do
Miscellaneous
do
Plate glass, polished, production.thous. of sq. ft
Window glass:
Production
__thous. of boxes..
Percent of capacity
GYPSUM AND PRODUCTS
Crude:
Imports
short tons,.
Production
do
Calcined production
do
Gypsum products sold or used:
Uncalcined
.do
Calcined:
Lath
thous. of sq. ft..
Wallboard
do
Keene's cement
short tons..
All building plasters
do
For manufacturing uses
do
Tile
thous. of sq. ft..
4,123
64.3
3,831
9,807
3,386
56.6
3,320
8,192
4.125
61.3
3,931
8,316
13,175
357
185
107
65
10,165
396
201
116
79
11, 790
1,099
67.7
809
49.8
912
56.1
()
(2)
740
45.6
()
8,036
9,289
6,212
10,450
729
44.8
720
44.3
690
42.6
867
53.4
8
18, 369
15, 812
18, 477
17, 257
13, 663
914
56.2
1,121
69.1
1,143
70.5
1,189
73.2
1,413
87.1
()
()
()
40, 423
541,183
533, 440
291, 810
845, 524
773, 634
445, 756
995, 760
840, 245
530,089
813,129
688,986
139, 248
244,163
286, 391
230, 207
207, 418
95, 981
5, 506
331, 702
26, 233
5,228
297, 267
113, 721
7,781
486, 494
25, 515
8,581
342,060
102, 400
7,
533, 790
28, 219
9,026
290, 358
98,887
5,955
394, 592
30, 898
7,335
()
r
Revised.
i D i s c o n t i n u e d b y compilers; d a t a on a n index basis a p p e a r on p . 20.
* D i s c o n t i n u e d b y reporting source.
*New series. F o r d a t a on floor a n d wall tile beginning 1935, see table 31, p . 18 of t h e J u n e 1939 S u r v e y . F o r t h e n e w series on p n e u m a t i c casings a n d inner t u b e s see
tables 27 a n d 28, p p . 16-18 of t h e M a y 1939 S u r v e y .
fRevised series. D a t a for p n e u m a t i c casings a n d inner t u b e s revised for 1936, 1937, a n d 1938; see tables 27 a n d 28, p p . 16-18 of t h e M a y 1939 S u r v e y . D a t a for glass containers revised beginning 1936; revisions n o t s h o w n o n p . 92 of t h e F e b r u a r y 1940 S u r v e y or on p . 53 of t h e J a n u a r y 1940 S u r v e y will a p p e a r in t h e 1940 S u p p l e m e n t . T h e
changes are generally minor.
54
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the February
1938 Supplement to the Survey.
April 1940
1939
February
March
April
May
June
July
1940
August
September
DecemOctober November
ber
January
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production
thous. of dozen pairs..
Shipments
do
Stocks, end of month
do
11,334
11,422
25,124
11, 374
10, 535
22, 201
13,198
13,142
22,317
11,024
10, 577
22, 823
11,796
10,891
23, 789
11,218
10,294
24, 773
9,819
9,483
25,133
12,448
12,924
24,681
11,977
12, 820
23,861
13,194
13,156
23, 923
12,987
12, 451
24,482
10,411
10, 259
24, 658
11, 702
11,149
25, 212
662,659
747
37
.100
.111
562, 580
264
8
.082
.090
649, 940
330
10
.083
.090
543,187
178
13
.082
.088
606,090
143
14
.085
.096
578,436
114
12
.087
521,353
107
16
.088
.097
628,448
219
13
.087
.094
624,902
649
10
.091
.093
686,936
886
14
.087
.093
718, 721
584
11
.088
.098
652, 695
807
10
.097
.110
730, 143"
1,027
9
.101
.111
11, 276
6 11, 792
1,548
11, 405
COTTON
Consumption
bales.
Exports (excluding linters) §
thous. of bales.
Imports (excluding linters)§
do_-.
Prices received by farmers
dol. per lb.
Price, wholesale, middling (New York)...do...
Production:
Ginnings (running bales)•.._.thous. of bales.
Crop estimate, equivalent 500-lb. bales.do.__
Movement into sight
do._.
Stocks, world, end of month*
do...
American cotton
do. _.
In the United States
do...
On farm and in transit
.do...
Warehouses
do._.
Mills
do...
In foreign countries
do...
Foreign cotton
do._.
137
1,402
6,687
10,085
11,112
418
33, 567
18,713
16, 570
949
14,101
1,520
2,143
14,854
428
31,005
17,670
15, 626
803
13, 446
1,377
2,044
13, 335
276
28, 656
16, 766
14, 921
718
12, 948
1, 255
1,845
11,890
296
26,155
15, 772
14,171
646
12, 393
1,132
1,601
10,383
328
23, 723
14, 826
13,487
595
11, 920
972
1,339
8,897
565
21, 462
14,030
12, 956
550
11, 591
815
1,074
7,432
870
2,761
0)
0)
3,093
2,288
0)
0)
(0
0)
33, 346
9,415
27, 618
9,210
33,135
10,108
29, 726
6,566
23, 980
5,581
7,151
12. 25
.051
.062
10.05
.042
.050
10.11
.043
.050
10.01
.042
.049
9.33
.042
.049
126, 641
93,483
5,130
106, 396
144, 021
109,652
6,633
127,815
127, 858
97, 270
4,962
109, 250
22, 804
8,266
331
99.6
22, 533
7,164
277
87.8
22, 503
8,243
319
86.7
.0255
.0350
.224
.225
.303
» 11, 623
0)
0)
12,157
1,702
0)
0)
0)
0)
'23,405
11,025
r 11, 774
-"606
r 22, 254
7,280
••14,151
'823
0)
0)
0)
0)
28, 674
6,750
23,878
6,776
9.84
.045
.052
10.52
.047
.053
131,715
98, 292
5,782
108, 736
127,104
89,020
5,843
90, 265
22,123
6,895
269
84.7
21,970
7,573
297
81.9
.225
.303
.228
.303
' 20, 776
3,918
r 15,441
••1,417
19,457
2, 266
15,457
1,734
(0
0)
18, 106
1,741
14, 554
1,811
1, 140
0)
0)
1,454
13, 207
1,730
0)
0)
0)
0)
(0
30,023
11,189
40,494
11, 774
35, 564
11,859
37, 899
16, 322
33, 311
10, 332
11.41
.047
.053
14.56
.054
.063
15.83
.055
14.93
.053
13.61
.053
.066
13.36
.054
.065
127,634
90, 267
6,543
87, 281
137, 722
102, 281
7,305
99, 242
153, 025
106, 678
8,056
113,380
173, 256
120, 460
8,322
124, 201
165, 624
123,154
6,516
117, 393
152, 215
109, 419
5,524
113,100
21,771
7,399
290
82.5
21, 939
6,621
262
81.9
22,012
7,908
313
85.1
22, 232
7,695
306
92.5
22,659
8,581
342
97.9
22, 774
8,803
353
101.3
22, 778
8,040
322
100.7
22, 872
9,223
369
102.6
.235
.303
.238
.313
.240
.315
.266
.351
.277
.365
.279
.378
.274
.378
.272
.375
0)
0)
0)
COTTON MANUFACTURES
Cotton cloth:
Exportsf
thous. of sq. yd-.
Imports§
do
Prices, wholesale:
Mill margins*
cents per lb..
Print cloth, 64 x 60
dol. per yd..
Sheeting, unbleached, 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, wholesale prices:
22/1, cones (factory)
dol. per lb
40/s, southern spinning, Boston*
do...
RAYON AND SILK
Rayon:
870
739
924
827
p 817
673
691
679
963
925
925
897
-•827
Deliveries, yarn, unadjustedf...1923-25=100..
4,159
3,395
3,955
3,322
3,503
4,062
2,607
3,457
3,423
3,108
6,750
5, 104
5,677
Imports§
thous. of lb..
Price, wholesale, 150 denier, first quality
.51
.52
.53
.51
.51
.51
.51
.53
.53
.53
.51
.53
.53
(N. Y.)
dol. perlb..
33.3
8.3
41.4
26.4
19.3
6.4
39.6
43.4
41.7
13.1
9.4
7.0
Stocks, yarn, end of mo.*
mil. of lb...
7.7
Silk:
26,
256
22,
485
33,
219
26,134
33,
095
36,
869
37,863
27,
802
26,150
32,
241
41,858
29,
506
21,
128
Deliveries (consumption)
bales-.
4,050
2,614
4,495
7,262
4,972
3,555
3,592
5,322
3,040
3,943
5,423
6,936
2,175
Imports, raw
thous. of lb..
Price, wholesale, raw, Japanese, 13-15 (N.Y.)
2.534
2.114
2.218
2.689
2. 648
2.641
2.993
3.683
2.393
3.394
3.271
3.921
dol. per lb..
Stocks, end of month:
60, 709
73, 348
81,060
89,160
98, 078
86, 816
77, 238
61, 601
89,135
92, 527 109,110
87, 025
83, 306
Total visible supply
bales
19, 209
25,060
27, 760
35,935
55, 610
50, 306
38,178
23,116
20,738
24, 201
59, 225
41, 927
25, 748
United States (warehouses)
do...
WOOL
14,054
16, 709
29, 625
19,832
16, 826
20, 542
14, 771
22,909
26, 035
45, 082
Imports (unmanufactured)!
thous. of lb_. 37, 212 17, 274 25,441
Consumption (scoured basis) :^
23, 772
27,489
22,449
21,110
19, 567
20, 244
24,707
25,006
26,436
22, 378
21, 302
28,189
Apparel class
do
6,291
7,984
9,604
9,856
8,159
' 9, 703
8,776
11, 274
9,238
7,665
5,852
8,847
8,658
Carpet class
do._.
Operations, machinery activity (weekly average) i
Looms:
Woolen and worsted:
1,791
1,759
1,573
1,549
1,782
2,044
1,853
1,942
1,580
1,338
2,043
1,587
Broad
thous. of active hours.
73
82
69
62
69
81
95
78
78
75
101
80
Narrow
do
200
178
175
199
196
221
197
209
213
213
195
Carpet and rug
do
Spinning spindles:
72,489
74, 111
73, 739
77, 201
74,103
73, 328
60,041
55, 704
80,173
81,748
70, 764
73,130
63, 248
Woolen
_.do_..
82,819
84, 395
71, 306
81,611 105,604 103,333
71, 344
77, 747
67, 613
79,174
77,698
67, 472
82, 226
Worsted
do.._
136
132
144
133
124
167
137
95
117
145
127
137
157
Worsted combs
do
Prices, wholesale:
.72
1.02
1.02
1.06
.72
.71
.73
1.09
1.06
.73
.93
Raw, territory, fine, scoured
dol. per lb._
.32
.32
.43
.45
.49
.46
.32
.30
.33
.47
.28
.30
.39
Raw, Ohio and Penn.
fleeces
do....
Suiting, unfinished worsted, 13 oz. (at fac2.178
1.683
1.683
1.683
1.906
2.178
2.178
1.683
2.178
1.646
2.116
tory)
dol. per yd _
Women's dress goods, French serge, 54" (at
1.188
1.015
1.015
1.163
1.163
1.163
1.015
1.015
1.015
1.015
1.015
1.101
1.188
mill)
dol. per ydWorsted yarn, 32's, crossbred stock (Boston)
1.46
1.42
1.13
1.13
1.53
1.45
1.13
1.34
1.13
1.13
1.15
1.38
1.13
dol. per lb..
•Total ginnings to end of month indicated.
> As of December 1.
Preliminary.
'1 Revised.
• Total crop for 1937-38 crop year.
JSee note marked with a "X" on p. 54 of the July 1939 Survey.
Data not available since the outbreak of the war.
5Data for April, July, October 1939, and January 1940 are for 5 weeks; other months, 4 weeks.
{Revised series. 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 cotton cloth exports revised beginning 1913; see table 48, p. 16, of
*New series The data on cotton stocks shown here are compiled by the New York Cotton Exchange and replace the data compiled by the Commercial and Financial
Chronicle. Data beginning 1920 appear in table 34, pp. 15 and 16 of the August 1939 Survey. Data on total stocks of foreign cottons and total world stocks of all cottons beginfor the series formerly shown, which was on basis ot n u m b e r oi m o n t n s ' supply,
v igures Degmmng J anuary iyou appear in rauie ~z, p . i s ui mis i » u e .
a ue ociico uu ^MA>U
varn southern single, carded, 40/s cones, at Boston has been substituted for the New Bedford series formerly shown, which has not been available since August 1934. The
New'Bedford price for the period September 1934 to October 1939 was computed from the Boston price on the basis of the relationship expressed between the two series in
1933 Monthly data 1933-38 for the Boston series will be shown in a subsequent issue.
§Revised series. Data revised for 1937; see tables 19 and 20, pp. 14 and 15 of the April 1939 Survey.
55
SURVEY OF CUERENT BUSINESS
April 1940
1940
1939
Monthly statistics through December 1937, to- 1940
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
August
September
DecemOctober November
ber
January
0)
TEXTILE PRODUCTS—Continued
WOOL—Continued
Receipts at Boston, total
thons. nf lh
do
Domestic
do
Foreign.
. _
Stocks, scoured basis, end of quarter, total
0)
3,247
(0
11,820
6,660
5,160
17,173
10, 241
6,932
31,461
25,641
5,820
55, 614
51,401
4,213
55, 355
51, 247
4,109
39, 228
35, 287
3,941
24,410
19,046
5,363
(')
11,991
0)
5,601
4,678
0)
0)
(0
(0
0)
••118,514
' 40, 997
' 32, 201
' 8, 796
' 77, 517
r
57, 260
' 20, 257
123, 096
39,602
31, 357
8,245
83, 494
63,128
20,366
94, 506
39,019
29,458
9,561
55, 487
33,452
22, 035
t.hrms nf lh
do
do
do
do
do
do
Woolen wools, total
Domestic
Foreign
Worsted wools, total
Domestic
Foreign
13,608
5,939
7,669
4,040
111,289
44,105
30, 958
13,147
f>7,184
31,713
35,471
MISCELLANEOUS PRODUCTS
Buttons, fresh-water pearl:
Production _ _
. pet. of capacity..
34.9
6,431
Stocks, end of month
__.thous. of gross..
.thous. of dol
v 3.770
Fur, sales by dealers..
Pyroxylin-coated textiles (artificial leather) :f
Orders, unfilled, end of mo-.thous. linear yd_.
2,398
Pyroxylin spread
._ thous. oflb _
4,930
4,862
Shipments, billed
_ thous. linear yd__
39.2
6,507
2,900
39.2
6,607
3,552
34.6
6,641
2,293
25.6
6,280
2,695
28.6
6,232
2,686
26.3
5,873
2,405
32.1
5,681
3,155
40.4
5,697
3,155
46.5
5,784
2,660
44.0
5,927
2,250
30.4
6,014
* 1, 284
35.7
6,403
' 3,034
2,223
5,079
5,119
2,188
5,402
5,505
2,252
4,643
4,576
1,887
4,727
4,759
2,087
4,710
4,387
2,243
4,351
3,971
2,415
5,581
5,143
4,562
6,243
5,807
3,578
6,371
6,482
3,132
5,413
5,556
2,797
5,038
5,148
2,886
5,131
5, 061
TRANSPORTATION EQUIPMENT
AIRPLANES
Production, totalf
Commercial (licensed)
For export.
___
number..
...do
do
170
266
152
114
352
220
132
379
270
109
475
319
156
679
530
149
329
207
122
578
440
138
486
424
62
43
62
294
206
4,776
2,611
6,043
4,222
6,315
4,526
2,274
1,592
5,480
4,075
6,027
4,630
4,821
3,040
6,154
4,804
1,913
934
1,202
586
4,874
2,386
4,901
1,947
4,980
2,258
20,145
9, 837
10, 308
27,351
16,193
11,158
30,048
17,984
12, 064
27,087
16, 213
10,874
25, 220
14,430
10,790
27, 087
16, 213
10,874
19,183
8,375
10,808
11,592
3,985
7,607
7,834
4,493
3,341
18,140
9,461
8,679
19, 676
10, 678
22, 688
11,885
10, 803
23, 032
13,47G
9, 556
81,915
42,157
39, 330
427
128, 377
120,907
67, 200
53,125
582
158,512
121,919
69, 087
52, 214
618
155, 736
141, 790
78, 587
62,449
754
145, 457
138, 572
76, 249
61, 701
621
122, 684
121, 737
67, 000
54,192
545
100, 490
116, 748
62, 074
54,103
571
47, 058
94, 316
46, 586
47, 313
417
65, 310
109, 793
59, 525
49, 734
534
130, 332
113,941
64, 000
49, 403
478
134, 922
119,637
69, 705
49, 408
524
179, 930
110,577
64, 460
45,617
500
189,184
74
30,600
58
29, 878
83
35,331
34, 790
76
35, 501
90
37, 606
75
35, 527
76
38,821
77
35,804
77
38,471
67
33, 737
76
37, 809
59
31,824
18,193
12,779
403, 627
337, 372
66, 255
1,850
14, 300
10,914
303, 220
243, 000
60, 220
1,443
17, 549
12, 689
371,946
299, 703
72, 243
1,730
16,891
12, 791
337, 375
273, 409
63, 966
1,348
15, 706
11, 585
297, 542
237,870
59,672
1,244
14,515
10, 585
309, 738
246, 704
63, 034
1,020
9,135
5,112
209, 359
150, 738
58, 621
681
3,475
1,068
99,868
61, 407
38, 461
971
3,921
3,494
188, 757
161, 625
27,132
1,585
11, 296
7,791
313, 392
251,819
61, 573
1,882
16, 756
9,882
351, 785
285, 252
66, 533
1,783
16,978
11,491
452,142
373, 804
78, 338
2,071
17,213
12, 579
432,101
362, 736
69, 365
2,164
164,942
33, 279
248, 038
45, 083
268, 335
46, 063
280,834
45, 381
243, 741
40,482
229, 308
44, 747
182, 633
43, 523
141, 633
32,983
212, 586
37, 923
231, 571
41, 286
246, 544
37,460
260,216
45, 650
123. 874
174; 572
160, 458
83, 251
133, 511
115, 890
142, 062
161, 057
142, 743
132, 612
142,002
126, 275
129, 053
128,453
112,868
124, 618
139, 694
124, 048
102,031
84, 327
71,803
76,120
12,113
7,436
56, 789
53, 072
47, 606
110,471
144, 350
129,821
162, 881
200, 071
180,133
156,008
207, 637
188r 839
120, 809
181,088
164, 925
156
139
147
136
128
125
110
117
128
146
135
143
178
145
118
140
140
129
95
153
142
141
105
129
132
150
105
120
115
154
108
115
113
166
108
94
113
154
97
96
104
166
106
133
94
173
106
159
106
183
101
154
107
167
91
177
101
127
87
201
91
141
104
1,643
1,668
1,664
1,662
1,657
1,654
1,653
1,650
1,644
1,642
1,641
1,638
1,640
155
9.6
28,112
225
13.7
6,788
214
13.0
6,502
221
13.5
6,391
231
14.2
9,261
223
13.7
10, 062
229
14.0
8,448
225
13.8
8,754
195
12.1
23,028
168
10.4
28,906
159
9.8
• 36,193
154
9.6
37, 049
155
9.6
34, 509
6,496
16.0
70
8,053
19.1
63
8,149
19.3
62
8,175
19.4
61
8,640
20.6
8,382
20.1
60
8,059
20.3
72
8,337
20.0
63
8,125
19.6
7,558
18.3
64
17.0
6, 507
15.9
r
51
6,324
15. 5
'77
168
133
98
35
123
113
132
122
62
148
138
78
60
169
160
100
60
151
143
150
146
86
60
122
118
72
46
136
132
90
42
165
140
110
30
184
140
113
27
156
113
92
21
179
139
99
40
AUTOMOBILES
Exports:
Canada:
Assembled, total
number..
Passenger cars
do
United States:
Assembled, total§
do
Passenger cars§
do
Trucks§f_
do...
Financing: f
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. S
do
To dealers, total*
do
To U. S. dealers
do....
Accessories and parts, shipments:
Combined index
Jan. 1925=100Original equipment to vehicle manufacturers
Jan. 1925=100..
Accessories to wholesalers..
do
Service parts to wholesalers
do
Service equipment to wholesalers
do
RAILWAY EQUIPMENT
(Association of American
Railroads)
Freight cars, end of mo.:
Number owned
thousands..
Undergoing or awaiting classified repairs
thousands..
Percent of total on line
Orders, unfilled
cars..
Locomotives, end of mo.:
Undergoing or awaiting classified repairs
number. .
Percent of total on line
Orders, unfilled._
number, .
r 44
(U. S. Bureau of the Census)
Locomotives :f
Orders, unfilled, end of mo., t o t a l . . n u m b e r . .
Domestic, total
do
Electric
do
Steam
do
r
45
63
1
Revised.
v Preliminary.
Not available since the outbreak of war.
*New series. Data represent sales to United States and Canadian dealers only; discontinued series included sales of overseas subsidiaries, which are no longer available.
Data on the new basis appear in table 10, p. 12 of the March 1940 issue.
fRevised series. Data on pyroxylin-coated textiles revised beginning January 1938; see note marked with a "f" on p. 55 of the November 1939 Survey. Data on shipments
and unfilled orders, locomotives, revised beginning January 1939 on the basis of a more definite segregation between railroad locomotives shown above and mining and industrial electric locomotives shown on p . 56. Quarterly data beginning 1939 are available from the Bureau of the Census for Diesel-electric, Diesel-mechanical, and gasolinemechanical or steam locomotives, in addition to the data for industrial electric locomotives shown on p . 56 which are for trolley or third-rail and storage-battery locomotives.
Digitized for Data
FRASER
on automobile financing revised beginning 1933, see table 11, p . 13 of March 1940 issue.
^Excludes military planes for domestic use.
§Revised series. Data revised for 1937; see table 19, p . 14 of the April 1939 Survey.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
56
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1937, to- 1940
gether with explanatory notes and references
to the sources of the data may be found in the Febru1938 Supplement to the Survey
ary
April 1940
1940
1939
February-
March
April
May
June
July
August
September
DecemOctober November
ber
January
TRANSPORTATION EQUIPMENT—Continued
RAILWAY EQUIPMENT—Continued
(17. S. Bureau of the Census)
Locomotives—Continued.H
Shipments, domestic, total
number.
Electric
do...
Steam
do...
Industrial electric (quarterly):
Shipments, total
do_...
For mining use
do...
(American Railway Car Institute)^
Shipments:
Freight cars, total
number..
Domestic
do
Passenger cars, total
do
Domestic
do
24
23
1
87
5,242
5,142
14
14
1,927
1,917
0
0
2,194
2,174
0
0
(U. S. Bureau of Foreign and Domestic Commerce)
Exports of locomotives, total §
number..
Electric§
do
Steam
do
INDUSTRIAL ELECTRIC TRUCKS
AND TRACTORS
Shipments, total
Domestic
Exports
number.
do._.
do...
WORLD SHIPBUILDING
(Quarterly)
Launched:
Number
ships.
Tonnage
thous. gross tons.
Under construction:
Number
ships.
Tonnage
thous. gross tons.
1,313
1,313
12
12
279
279
15
15
2,149
2,148
21
10
882
880
18
18
813
804
9
799
740
22
22
125
119
6
247
690
249
549
716
2,704
719
2,859
0)
0)
0)
(0
1,160
1,110
12
12
2,616
2,616
54
54
4,366
4,136
36
36
5,160
5,083
0
0
129
93
36
140
99
41
152
118
34
131
112
19
0)
0)
(0
0)
CANADIAN STATISTICS
Physical volume of business:
Combined index
1926=100.
133.1
133.0
133.3
138.6
113.2
116.7
121.4
125.8
120.5
125.2
111.7
121.4
Industrial production:
114.1
124.4
Combined index
do...
139.7
115.2
119.1
128.3
127.5
139.0
138.2
145.2
123.3
123.9
56.0
Construction
do...
43.2
47.4
51.1
48.6
59.7
40.3
61.7
52.1
48.9
53.6
59.6
232.3
Electric power
do...
245.6
233.2
226.4
246.0
241.1
248.1
239.2
243.4
235.5
235.6
238.8
105.0
Manufacturing
do...
143.7
107.6
109.5
121.3
116.5
136.9
136.9
146.8
113.3
112.3
112.9
111.6
139.3
110.4
120.2
130.7
126.4
Forestry
do...
128.7
127.6
142.4
112.6
114.2
120.6
190.9
194.2
196.7
219.6
223.2
233.2
Mining
do...
236.7
202.4
215.6
232.7
238.5
228.9
Distribution:
104.9
109.6
118.4
118.3
Combined index
do...
114.3
115.8
119.7
107.4
115.9
112.9
110. 6
119.1
66.7
69.2
95.6
82.0
Carloadings
do..
80.0
84.0
86.7
71.8
81.1
71.3
76.8
82.6
115.1
112.8
122.8
114.3
130.5
103.3
98.8
120.3
122.1
123.7
106.9
118.1
Exports (volume)f
do...
78.0
102.0
93.2
102.1
109.7
71.7
73.9
86.1
108.1
87.7
91.2
Imports (volume).
do...
99.7
138.0
137.3
139.3
133.4
137.2
141.8
137.5
137.1
135.9
Trade employment
do._
135.0
138.0
138.3
Agricultural marketings:
112.4
96.5
174.4
151.1
101.3
32.3
40.5
76.8
101.3
48.1
60.3
102.6
Combined index
do..
117.7
96.0
166.2
107.1
105.7
40.7
196.5
33.8
105. 9
76.5
Grain
do..
23.5
58.5
75.2
81.2
83.2
81.9
70.5
88.7
99.6
75.7
Livestock
do..
87.5
78.3
71.7
68.1
Commodity prices:
85.1
83.0
85.3
83.1
83.1
82.9
83.1
85.0
83.1
83.1
82.9
Cost of living
do..
84.7
73.2
73.2
73.4
73.3
72.6
Wholesale prices
do..
80.3
81.7
73.7
79.3
72.4
78.2
Employment (first of month):
114.4
116.2
106.5
113.1
123.6
106.2
119.6
117.5
121.7
122.7
106. 5
104.9
115.8
Combined index
do..
58.1
89.4
115.3
117.6
94.2
152.2
146.3
131.5
93.8
94.3
91.6
133.1
68.8
Construction and maintenance
do..
120.5
106.0
111.4
122. 1
108.4
112.8
115.3
107.0
107.1
119.7
122.2
111.3
118.2
Manufacturing
do..
168.4
160.5
160.5
155. 8
168.0
171.0
165.6
170.3
171.3
160. 9
157.4
164.1
164.7
Mining..
do..
131.8
129.5
141.8
135.2
133.2
149.8
151.7
128.5
131.4
136.1
132.9
147.6
133.7
Service
do._
136.4
131.0
136.6
135.1
134.9
140.2
135.5
138.6
144.7
128.9
131.1
137.4
149.9
Trade
do..
83.3
79.4
86.5
90.6
81.4
87.5
90.0
80.3
79.3
94.8
89.7
87.6
84.5
Transportation
do..
Finance:
Banking:
2,832
2,674
2,050
2,390
2,930
3,057
2,831
2,377
2,899
2,428
2,473
2,839
Bank debits
mil. of dol._
132
121
94
154
95
136
120
99
83
93
105
Commercial failures*
number...
Life insurance sales, new paid for ordinaryt
30, 879 33, 578 28, 229 33, 657
35, 766 32, 244 28, 558 37,117 34, 677 36, 062 36, 692 33, 726
thous. of d o l . . 31,820
Security issues and prices:
54, 657 128, 404 154, 583 213, 421 111,462 73, 733 113, 451 50, 590 268, 083 60, 890 78,996 322,906
New bond issues, total
d o . _ . 116, 510
67.5
78.3
76.5
74.0
68.1
75.1
74.4
67.5
67.0
66.3
66.8
68.4
Bondyieldst
1926=100.
94.2
100.1
104.1
96.2
106.0
103.6
101.2
97.0
99.7
103.7
97.3
99.2
Common stock prices
do...
Foreign trade:
72, 314
58, 243 70. 083 50, 987 80, 774
77, 570 76, 641 76, 476 82, 457 91, 419 98, 490 101, 973 90, 854
Exports, totalf
thous. of dol_
6,598
5,746
2,832 13, 655
14, 637 13, 781 10, 273 15, 641 16, 849 20, 635 34, 412 10,358
6, 564
Wheat
thous. of b u .
559
573
291
275
401
417
444
903
725
361
516
403
379
Wheat flour
thous. of bbL
71,042
63,
709 58, 580 62, 708 73,564 79, 053 84, 561 72,109
40,
380
41,
908
58,
381
72,
958
71,104
Imports
thous. of dol.
Railways:
295
248
195
229
270
200
210
160
179
215
191
196
Carloadings
thous. of cars.
Financial results:
39,
681
22,
652
25,
191
29,
774
42,
960
25,
700
29,
680
36,
703
33,
232
26,
160
27,
794
Operating revenues
-thous. of dol.
22, 921 24, 333 22, 906 25, 261 24, 296 26, 038 27, 054 29, 571 26, 985 25,146 24, 552
Operating expenses.
do.._
<* 1, 490
1,029
1,429
12, 049 11,222 10, 083
3,190
8,199
601
529
193
Operating income
do...
Operating results:
2,114
2,394
4,800
3,753
3,371
2,054
2,431
1,819
1,707
1,957
2,976
Revenue freight carried 1 mile-mil, of t o n s . .
122
134
153
115
180
196
168
127
129
101
Passengers carried 1 mile
mil. of p a s s . .
186
Production:
Electrical energy, central stations
2,590
2,214
2,333
2,381
2,607
2,246
2,206
2,197
2,535
2,526
2,293
2,367
mil. of kw.-hr
41
66
53
60
46
86
88
95
105
58
41
Pig iron
thous. of long t o n s . .
122
124
150
166
77
121
108
111
140
96
100
147
150
Steel ingots and castings
do_.
1,382
2,090
1,188
1,037
1,194
1,114
1,192
1,927
1,960
1,106
1,600
1,266
Wheat
flour
thous. of bbl
d
* Revised.
Deficit.
i Data discontinued during period of war.
*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
appear in table 54, p. 18, of the November 1939 issue.
§Revised series. Data revised for 1937; see table 19, p. 14, of the April 1939 Survey.
fData on life insurance sales revised beginning January 1936. Revisions not shown on p. 56 of the September 1939 Survey will appear in a subsequent issue. Revised
data on value of exports beginning 1926 are shown in table 15, p. 17 of the March 1940 issue. For the index of volume of exports, revisions are available for 1938-39. Data not
shown on p. 56 of the January 1940 Survey will appear in a subsequent issue. Indexes for the period 1926-37 are available only on the old basis. Data on bond yields revised
beginning 1932; revisions not shown on p. 56 of the March 1940 Survey will appear in a subsequent issue. Data on railway equipment shipments revised beginning 1918, see
table 14, p. 16 of the March 1940 Survey.
http://fraser.stlouisfed.org/
USee footnote marked with a " t " on p. 55.
u. s. GOVERNMENT PRINTING OFFICE: 1940
Federal Reserve Bank of St. Louis
INDEX TO MONTHLY BUSINESS S
CLASSIFICATION, BY SECTIONS
Monthly business statistics:
Page
Business indexes
,
_.
19
Commodity prices
— __.
20
Construction and real e s t a t e . _
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_ „..__.__ —
40
Foodstuffs and tobacco--,
41
Fuels and byproducts._ _
,, , _ 45
Leather and products.
46
Lumber and manufactures.. __,
47
Metals and manufactures:
Iron and steel
_
48
NonfeiTous metals and products
49
Machinery and a p p a r a t u s . - - . - 50
Paper and printing
„
31
Rubber and products
__
52
Stone, clay, and glass p r o d u c t s . - 53
Textile products....
54
Transportation equipment. _ __ _ _ .
55
Canadian statistics.
___ — — _
56
CLASSIFICATION, BY INDIVIDUAL
SERIES
Page
52
Abrasive paper and cloth (coated)
_,
30
Acceptances
.....
...
55
Accessories—Automobile
_....._ —
23
Advertising..
_
.
Agricultural products, cash income received
from marketings of—_
_
_.
20
Agricultural wages, loans
.
. . . 29,30
Air-conditioning equipment
50
Air mail
...
__
23
Airplanes-.
..._.....,
38,55
Alcohol, denatured, ethyl, methanol- . . . . . .
38
Aluminum
.
49
Animal fats, greases.
,
.,
.
39
Anthracite mining
19,26,28,45
Apparel, wearing
20,24, 25,26,27,28,29,54
Asphalt
______
_.
.__
46
Automobiles.,..
— 19,23,24,25,27,28,29,55
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—.
-.._-..
48,49
Bonds, prices, sales, value, yields
.___.
30,35
Book publication
„___
. — — .__...
52
Boxes, paper.
__
. «...
._.
52
Brass
50
Buck
..„._..
...
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
Cannl traffic.
____
_ . , . . 37,38
Candy
___„,
.._....___....
.
44
Capital flotations . _ — . . _ . _ . . _ . . _ .
. 33,34
CarloadJngs____ —
...
..._...
37
Cattle and calves.___..
_.__
......
43
Cellulose plastic products
,_
.,
40
Cement_.
. —.....____..___
19,53
Chain-store sales—. — —____ — — — — — __-_
24
Cheese
.
.
„
. . . . .
41
Cigars arid cigarettes_..,
._._
_ - 44,45
Civil-service employees_ . _.
___—_
_
26
Clay p r o d u c t s — . . . . - . . _ . _ .
25,27,28,29,53
Clothing
20,24,25,26,27,28,29,54
Coal.
.......
_ . _ _ . . — 19,20,26,28,45
Cocoa..-__._ . . . . _ . _ _ .
_.
........
44
Coffee
. . .
44
Coke-....
....
- . . . — ._..
45
Collections, department s t o r e s . . . . _ . _ — _ . 24
•Commercial failures
.
....
....
31
Commercial paper
,_ —
, ,
. . ,_„„
30
Construction:
Contracts awarded, indexes.,
21,22
Costs,
22
22
Highways.
29
Wage rates
.
49
Copper
39
Copra and coconut oil.
20
Cost-of living index.
Cotton, raw and manufactures...
20,21,54
Cottonseed, cake and meal, oil„_
39
Crops
-_.19,20,42,43,
Currency in circulation— _ .
. . _.
Dairy products—.
. . . . _ . _ . . _ . _ 19, 20,
Debits, bank.——
„
...._._....
Debt, United States GovernmentDelaware, employment, pay rolls— — .
26
Department-store sales and stocks
Deposits, bank
. _.
Disputes, industrial—— _ . . .
...._
Dividend payments....
._ — _.»__ — _
Earnings, factory, average weekly and
hourly
.
.._____.._..___._.--_-.
Eggs__._
__.._
. . . — — . - 19.
Electrical equipment..
__
Electric power, production, sales, revenues. Electric street railways-..___.
. .,
Employment:
Cities and States
,.
,._....._..
Nonmanufacturing
__-_. .
_._..
Emigration
. . .— . .
Enameled ware
.
Engineering construction-__„.__ — _____.,_ Exchange rates, foreign
. .
,.
Expenditures, United States Government—Explosives—
...
....
Exports
.
.___.
Factory employment, pay rolls
25, 26
Fairchild's retail price index..
Fares, street railways___.
..
Farm prices, index
..__...
Federal Government, finances
Federal-aid highways.._..___
Federal Reserve banks, condition of
Federal Reserve reporting member bank
statistics
.._....
—.
....
Fertilizers
Fire-extinguishing equipment
Fire losses
—-__
Fish oils and fish
Flaxseed- _ .
_.___._-_
Flooring, oak, maple, beech.
Flour, wheat-—
.
- . _ . . ...
_-.
Food products
....
_ . 20,25,26,28
Footwear.
,
.
. . . . 46
Foreclosures, real estate- . _ , . . . _
. ..
Foundry equipment__..__
_.__.._-..
Freight carloadings, cars, indexe*.
Freight cars ( e q u i p m e n t ) . . . . . . . .
Freight-car surplus_.
.
—...
Fruits. . .
— ._._._._-Fuel equipment
_.
Fuels
. . . .
Furniture
.__._.Gas, customers, sales, revenues
Gas and oil fuels
—
__ — — _ . —
Gasoline
~
.-_.___
Gelatin, edible.
..._—
—
General Motors sales
. _ . — . . . — ._
Glass and glassware.
- - - - - 19,25,27,28,
Gloves and mittens
...
.
Gold
_—
.
.-.-..-.. —-.Goods in warehouses
—
Grains —
.
.
. . . . . . . . . 20,34
Gypsum.
____«,
_-_
Hides and skins____
.___._
. . _ — — __
Hogs
.
Home loan banks, loans outstanding..
Home snort gage insurance
.__—_ — __
H osiery
.
._».
. __ —
Hotels
.
......
. . „ . — _ 26
Housing...
.
.
.
. 20
Illinois, employees, factory earnings_„..„ 26
Imports
. .__„__ — ___
-.___-_
Income payments_..
, — __ — — - —
Income-tax receipts
.-_„__ — —
Incorporations, business._—_ — — __ — — «.__
I n d u s t r i a l production, i n d e x e s _ . _ „ . . — _ — __
I n s t a l l m e n t sales, N e w England..__
_„.
I n s u r a n c e , life. _ .
I n t e r e s t a n d money r a t e s .
.
.—_
Iron ore, crude, m a n ufactures.. — . _ _ _ _ _ _ _ - . .
Kerosene-,-_,
Labor turn-over, disputes _ _ _ . _ _ _ .
—.
Lamb and mutton—.__.__.
______
Lard , .
„_ — „_ — _ _ _... — _„
Leather III IZ1111IZII 1*19, 21, 25,26, 27, 283
Leather* artificial-.
_-_
„_ — — — — _
Linseed oil, cake, and meal__.___ __ __ __,
Livestock,...,._.__--_-_-_
_ . — . 19
Loans, agricultural, brokert', real estate- - 23,
Locomotives _ .
________._.__.
Looms, woolen, activity-.„_.__.
.__
Lubricants
.__
—
Lumber—__--.__.__. _ — 20,25,27,
Machine activity, cotton, wool—_.___._. .
Machine tools, orders
...
.
.
Machinery
. _ _ . _ _ _ . . _ . _ _ . — _. 25,27,
Magazine advertising
— „„._.
Manufacturing i n d e x e s . . . . . . . . . . .
Marketings, agricultural_
.__.___.
Maryland, employment, pay rolls
,____
Massachusetts, employment, pay rolls __„__
Meats
-____.
. 19
Metals
— . . . . 19,21,25,27,28,29,48;
Methanol
.
...
...
Mexico, silver production
....
„»
Milk___.
........
Minerals
.
. . . 19,26,28
Naval stores.
.... .
...
„__
Netherlands, exchange rates
_
@FedFRASER