Full text of Survey of Current Business : April 1950
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APRIL 1950
U. S. DEPARTMENT OF COMMERCE
OFFICE OF BUSINESS ECONOMICS
D E P A R T M E N T OF C O M M E R C E
FIELD SERVICE
SURVEY
OF CURRENT BUSINESS
APRIL 1950
-4
No
(^-ontenfe
PAGE
THE BUSINESS SITUATION
Production Trends
Normal Coal Production Resumed
Price and Wage Developments
Farmers9 Planting Intentions
*
*
.
1
2
3
4
5
*
SPECIAL ARTICLES
Capital Investment Programs and Sales Expectations
in 1950
6
Capital Requirements of New Manufacturing Firms . . 11
Foreign Transactions of the U. S. Government in 1949 . 19
* * *
MONTHLY BUSINESS STATISTICS . . . . S - l t o S-40
New or Revised Statistical Series
23
Statistical Index . . . . . . . . . . . Inside Back Cover
Published by the Department of Commerce•, C H A R L E S S A W Y E R ,
Secretary. Office oj Business Economics, M. JOSEPH MEEHAN,
Director. Subscription price, including weekly statistical supplement, $3 a
year; Foreign $4. Single copy 25 cents. Send remittances to any Department of Commerce Field Office or to the. Superintendent of Documents,
United States Government Printing Office, Washington 25, D. C.
M O N T H L Y BUSINESS STATISTICS— I 9 4 9
Albuquerque, N. Max.
203 W. Gold Ave.
Memphis 3, Tenn.
229 Federal Bid*.
Atlanta 1, Ga.
50 Whitehall S?. SW.
Miami 32, Fla.
36 NE. First St.
Baltimore 2, Md.
103 S. Gay St.
Milwaukee 1, Wis.
517 E. Wisconsin Av*.
Boston 9, Mass.
2 India St.
Minneapolis 1, Minn.
2d Ave.S. at 4th St.
Buffalo 3, N. Y.
117 ElHcott St.
Mobile, Ala.
109-13 St. Joseph St.
Butte, Mont.
14 W. Granite St.
New Orleans 12, La.
333 St. Charles Ave.
Charleston 3, S. C.
18 Broad St.
New York 4, N. Y.
42 Broadway
Cheyenne, Wyo.
206 Federal Office Bldg.
Oklahoma City 2, Okla,
102 NW. Third St.
Chicago 4, 111.
332 S. Michigan Ar«.
Omaha 2, Nebr.
1319 Farnam St.
Cincinnati 2, Ohio
105 W. Fourth St.
Philadelphia 6, Pa.
437 Chestnut St.
Cleveland 14, Ohio
925 Euclid Ava.
Phoenix 8, Ariz.
234 N. Central Av«*
Dallas 2. Tex.
1114 Commerce St.
Pittsburgh 19, Pa.
700 Grant St^
Denver 2, Colo.
828 Seventeenth St.
Portland 4, Oreg.
520 SW. Morrison St.
Detroit 26, Mich.
230 W. Fort St.
Providence 3, R. I.
24 Weybossctt St.
El Paso 7, Tex.
206 U. S. Court House
Bldg.
Reno, Nev.
118 W. Second St*
Hartford 1, Conn.
135 High St.
, , lex.
„,
Houston 14,
602 Federal Office Bldg.
Richmond 19, Va.
801 E. Broad St.
St. Louis 1. Mo.
arket St.
Jacksonville 1, Fla,
311 W. Monroe St.
Salt Lake City 1, Utah
350 S. Main St.
v
/-• o,
,£ -nr
Jtvansas
City
Mo.
911 Walnut St.
San Francisco 11, Calif,
555 Battery St.
Los Angeles 12, Calif.
312 North Spring St.
Savannah, Ga.
125-29 Bull St.
Louisville 2, Ky.
631 Federal Bldg,
Seattle 4, Wash.
909 First Are,
For local telephone listing, consult section
devoted to U. S. Government
MONTHLY AVERAGES
Attention is directed to the 1949 averages published on pages S-l to S-40 of the March issue. Those averages
used in conjunction with those in the 1949 Statistical Supplement to the Survey of Current Business provide, in
most instances, continuous data beginning with 1935 for approximately 2,600 statistical series, comprising a
variety of subjects.
Copies of the March issue of the Survey of Current Business (price 25<i) and the 1949 Statistical Supplement to
the Survey of Current Business (price $1.25) are available from the nearest Department of Commerce field office
or from the Superintendent of Documents, U, S. Government Printing Office, Washington 25, D. C.
APRIL 1950
By the Office of Business Economics
Incoming business of durable-goods
manufacturers' was higher than
shipments early this year
BILLIONS OF DOLLARS
1-2
10
<NEW ORDERS
Business activity moved forward in March completing a
quarter of moderate expansion in the economy. With termination of the coal strike, output in the mines and in steel
recovered, enabling industrial consumers to replenish stocks
for the maintenance of high volume operations. The boom
in residential construction progressed and the usual seasonal
expansion occurred at levels nearly 50 percent above those
of last year. The flow of personal incomes—temporarily
augmented by National Service Life Insurance dividend
payments to veterans—reached $219 billion at an annual
rate, with the total during the first 2 months of this year
exceeding the eiid-of-1949 rate by almost $7 billion. The
underlying trend of income in this period was upward,
aside from this nonrecurring dividend and the effects of the
strikes.
Consumption trend mixed
Consumer spending in the first quarter responded to the
expanded income flow, with the durable-goods lines showing
the more favorable trend. In apparel and general merchandise stores, Easter activity appeared to be below expectations with some attendant accumulation of inventories.
Aggregate retail sales in February were about 1 percent
above the previous peak of August 1948 on a seasonally
adjusted basis, and held close to this volume in March.
The greatest gains were in automobiles and in furniture,
refrigerators, washing machines, ranges, and other appliances, the sales of which are related in large part to the
sharp rise in building activity.
SALES
nl I I ! I I I I I I I ! I I I I ! I I I I i I i I I I I I I
extending the upturn in unfilled
orders.
BILLIONS OF
40 I
'
DOLLARS
* UNFILLED ORDERS
30
20
10
i » i r i f i t t i i I i i i t t I i t i It
1948
1949
I I I I tI
I960
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
v/y///////////////////^^^
879643—50
5Q-I36
Investment rising—Government outlays
steady
The trend in business spending in the first quarter of 1950
was also stronger than in most of 1949, when investment in
both inventories and in plant and equipment was declining.
Except for involuntary reductions in stocks directly attributable to work stoppages, there was virtually no liquidation in inventories. Business outlays for plant and equipment were about the same in the first quarter of the year as
in the final quarter of 1949, though a survey of investment
programs suggests some decline in the second half of 1950, as
described in the article on this subject in this issue of the
SURVEY. The cessation of the decline in orders for machinery
and for industrial and commercial construction, together
with the rise in residential building, reversed the downward
trend in private-capital formation as a whole.
Federal Government expenditures in the first quarter of
the year were somewhat below those implied in the official
budget estimates of January but were running about on a
par with the $25-billion annual rate, on a seasonally adjusted
basis, prevailing at the end of 1949. State and local expenditures were likewise firm with continued heavy disbursements for road building and school and other public construction.
SURVEY OF CURRENT BUSINESS
April 1950
and, as depicted in chart 2, exceeded output in the same
period of 1949 despite the strike in the plants of a major
producer.
Chief exception to the general picture of recovery among
finished durable goods was railway freight cars, production
of which was down 50 percent in the first quarter of the
year. Here there has been some recent pick-up in orders
for new equipment. Unfilled orders on the books of freight
car builders and railroad car shops rose from 12,000 in
December 1949 to 31,000 in March. While this volume is
equivalent to 15 months' output at the rate of production
prevailing in the first quarter of this year, it is little more
than 3 months' production at the rate the industry was
operating in 1948.
Production Trends
The largest increases in output in the first quarter of the
year were centered in the durable-goods industries. With
rising demand for consumer durables, construction materials
and equipment, and continued strength in the demand for
automobiles, incoming business of manufacturers rose sharply
at the start of the year, resulting in an advance in shipments
and an accumulation of unfilled orders. As chart 1 shows,
this development, essentially, represented an acceleration of
the recovery in progress in this segment since autumn of
last year.
The recent trends in industrial production are illustrated
in some detail in table 1. In almost all industries output was
moving upward in the first quarter of the year to volumes
substantially above their lows of 1949, though still under the
peaks reached earlier in the postwar period. Steel production, recovering from the effect of the work stoppage in coal,
reached 97 percent of capacity at the end of March.
Less recovery in the nondurables
Among nondurable goods, as the table shows, advances in
1950 were in general considerably smaller. Furthermore,
there is evidence that the increases noted in this table for
textile consumption have not been accompanied by a commensurate advance in output of finished apparel. Sales of
apparel manufacturers in January and February declined by
6 percent from the fourth quarter 1949 rate and were nearly
30 percent below the corresponding months of last year.
Inventories—especially of purchased goods and goods in
process—were substantially higher. Sales of apparel retailers
showed little change from the fourth quarter 1949 rate but
were 11 percent below the corresponding months of last year.
Sharp recovery in durable goods
Output of nine durable semifinished materials during the
first 2 months of 1950 was from 6 to nearly 70 percent above
the 1949 low points. The rise for finished durable goods
ranged from 12 percent for tractors to more than 60 percent
for refrigerators, nearly 80 percent for electric ranges and
167 percent for television and television-radio-phonograph
combination sets. Automobile production was also high
Table 1.—Output of Semifinished and Finished Manufactured Products
Highest postwar
quarterly output
monthly average
Lowest quarterly
output in 1949
monthly average
Date
Date
Percent change in production
Production
in January-February 1950
in Januarymonthly average from—
February
1950
monthly
Fourth
Lowest
Peak
Quantity
average
quarter
quarter quarter
in 1949
1949
Unit
Product
Quantity
Durable goods:
Semifinished:
Iron and steel
Nonferrous
metals 2
Lumber 22
Cement
Brick 2
Structural clay tile 2
Cast iron soil pipe and fittings
Wire nails
- Glass containers
1-49
1-47
(3)
1-49
(3)
1-49
1935-39-100
1935-39=100
1935-39=100
1935-39=100
Mills standard brick
Thousands of short tons
IV-48
IV-48
do
do
2
Finished:
Railway freight cars
Trucks and busses
Tractors, wheel type
_
.
Passenger cars
_ _ __
Refrigerators, electric
- _ __
Washing machines
Vacuum cleaners
_
_ Electric water heaters
Electric ranges
Radio and radio-phonograph combinations
Television sets and television-radio-phonograph
combinations
231
204
139
213
611
117
62.4
73.6
IV
III
III
III
II
IV
149
142
113
187
403
99
II
III
29.8
54.4
i 202
181
139
209
611
105
-12.6
-11.3
0.0
-1.9
0.0
-10.3
+35.6
+ 27.5
+23.0
+11.8
+51.6
+6.1
+35.6
+ 10.4
+2.2
+8.3
+33.1
+6.1
49.9
«71.3
-20.0
-3.1
+67.4
+31.1
-11.8
+74.8
184
207
-23.3
+12.5
+5.6
1935-39 — 100
1-47
270
Number
Thousands
do
1-49
11-48
1-49
10, 951
120.6
50.1
IV
IV
IV
4,142
75.0
33.7
i 2, 053
i 80.0
37.6
-81.3
-18.7
-25.0
-50.4
+30.7
+11.6
-50.4
+30. 7
+11.6
do
do
do
do
do
do
do
111-49
(3)
11-48
IV-47
IV-47
IV-48
IV-47
525.0
418.6
390.9
360.8
75.3
119.1
1,749
IV
IV
385.3
256.2
205.4
210.6
38.0
60.9
499
i 449. 0
418.6
309.3
256.4
48.7
108.5
705
-14.5
0.0
-20.9
-28.9
-35. 3
-8.9
-59.7
+16.5
+63. 4
+ 50.6
+21.7
+28.2
+78.2
+41.4
+16.5
+63.4
+6.7
-2.8
+10.9
+54.3
-7.5
0.0
+166. 6
+4.7
do
I
(3)
422
I
III
I
II
II
I
158
422
144
356
* 147
< 96
168
223
+35. 8
-10.6
0.0
+ 58.9
-35.5
+47.0
-20.0 ' +4.3
+23.5
0.0
+5.7
-3.5
+6.7
+6.0
+2.8
0.0
+3.7
+0.5
119
162
164
162
6, 759
12.9
-16.2
+1.8
-26.8
-5.3
—18.9
-5.8
+12, 3
+0.6
-3.0
+0.6
+12.1
+14.2
+12.3
+0.6
-6.8
+0.6
+7.8
-3.7
Nondurable goods:
Semifinished:
Cotton consumption
_
_
Rayon deliveries.
______
Apparel wool consumption
2
Leather tanning
_ __ _
Paper 2 __
_ ...
Refined petroleum products
1935-39=100
1935-39=100
1935-39=100
1935-39 = 100
1935-39 = 100
1935-39 — 100
I 47
(3)
IV-46
1-46
(3)
IV 48
161
356
228
120
168
231
II
II
II
III
II
II
106
224
100
92
136
211
Finished:
Shoes2
Food
_
Beverages 2
Tobacco and products 2 _ _
Rubber tires
Hosiery
_
1935-39-100
1935-39=100
1935-39=100
1935-39=100
Thousands
Million dozen pairs. __ __
II 46
111-49
1-47
11-48
1-47
1-48
142
165
224
171
8, 333
13.7
IV
106
161
169
161
6,032
11.3
1
2
_ ___
__
___
_
_
Data represent monthly average for the first quarter, 1950; March data estimated.
Data are adjusted for seasonal variation.
3
4
I
II
IV
III
II
January-February, 1950.
Data are for the month of January.
Source of data: Board of Governors of the Federal Reserve System; U. S. Department of Commerce, Bureau of the Census, American Iron and Steel Institute, American Railway Car
Institute, Automobile Manufacturers Association, Implement Trade Journal Company, National Electrical Manufacturers Association, American Washer and Ironer Manufacturers Association, Vacuum Cleaner Manufacturers Association, Radio Manufacturers Association, Rubber Manufacturers Association, National Association of Hosiery Manufacturers.
SURVEY OF CURRENT BUSINESS
April 1950
Chart 2.—Automobile Production
THO USANDS OF UNITS
40
30
-
&50
^—~***^
20 _«^*^
"~
^1949
\
__
10 __
—
variables, based on experience during the years 1923-40.
Only in the war years, when there were profound alterations
in the structure of the economy, were there substantial deviations between the actual and the calculated volumes.
Analysis of the demand for bituminous coal is considerably
more complex. In addition to the factors affecting aggregate
energy consumption, the demand for individual fuels is
affected by relative costs. For the long-term as well as the
recent behavior of bituminous coal consumption, this latter
factor is of particular importance.
In order to appraise this, the relationship between bituminous coal consumption and the principal determining
factors was computed from data for the period 1923 through
1940. The explanatory variables include: (1) Industrial
production—the chief source of demand; (2) the price of
bituminous coal; (3) the price of fuel oil—chief competitor
in industrial markets; (4) time trend, representing principally
Chart 3.—Total Energy Consumption from Mineral Fuels
and Water Power, and Bituminous Coal Consumption
1
0
J
1
F
1
M
1
A
1
1
1
M
J
J
A
DAILY AVERAGES
1
I
S
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
1
O
I
N
D
50-137
QUADRILLION BRITISH
THERMAL UNITS
50
TOTAL ENERGY
Source of data: Automobile Manufacturers Association.
Normal Coal Production Resumed
Coal output made a rapid comeback following return of
miners to the pits in the first week of March, mounting from
a weekly average of 2.5 million tons during the strike period
in February to approximately 13 million tons in the last 3
weeks of the month—the highest weekly rate with few exceptions in the past 2 years. This rate of production has
permitted some replenishment of stocks depleted by the
extended strike.
An outstanding feature of development in this industry
has been the declining volume of consumption in relation to
the level of industrial output. The modest downturn in
business activity from the 1948 postwar peak was accompanied by a more than proportional reduction in the demands
made upon the Nation's fuel resources in general. This
decline was concentrated primarily in bituminous coal as
chart 3 suggests. From 519 million tons in 1948, bituminous
coal consumption declined to 445 million tons in 1949, a
drop of 15 percent. Consumption of energy from other
mineral fuels or water power during the same period showed
little change.
The work stoppages in coal output—as well as the adoption
of a 3-day workweek during a large part of 1949—was of
course a prime factor in reducing stocks in this period.
During the first 2 months of 1950, consumption was restricted
by the supply available as conservation measures were
adopted to stretch dwindling supplies.
40
CALCULATED *
30
ACTUAL
20
10
0 I
1
I 1 1 1
BILLIONS
OF
I
I I 1 1 I 1 I
1 1 I
I
I
1 I I I I
I I I
TONS
1.0
BITUMINOUS COAL
.8
CALCULATED-
.2
Pattern of fuel consumption
Fuel consumption, in to to, is of course directly related to
the volume of business activity. Superimposed upon this
relationship is a long-term down trend, reflecting progressive
advances in technology and management in achieving economies in the utilization of energy. These two factors—the
volume of business activity and gradual economies over
time—account in the main for fluctuations in energy consumption, as shown in the upper panel of chart 3.
The "calculated" line in this chart indicates the volume of
consumption as derived from the relationship among these
i i i i i i i i i i
1923 25
27
29
31
33
1 1 1 1 ! j ] )
35
37
39
41
I I I I I
43
45
U.S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
47
49
50-141
1
Calculated total energy consumption is based upon a linear least squares regression of
total domestic energy consumption on industrial production, disposable personal income
(roughly adjusted for price change) and time. Coefficient of correlation=0.98. Calculated
bituminous coal consumption is based upon a linear least squares regression of bituminous
coal consumption on industrial production, prices of bituminous coal and fuel oil, and time.
Coefficient of correlation=0.99.
Source of data: U. S. Department of Commerce, Office of Business Economics, based upon
data from U. S. Department of the Interior, Bureau of Mines; U. S. Department of LaborBureau of Labor Statistics; and Board of Governors of the Federal Reserve System.
SUEVEY OF CUEEENT BUSINESS
gradual changes over time in efficiency of operation and in
the extension of facilities available for utilization of coal as
well as for competing fuels. These factors, historically, explained virtually all the fluctuations in bituminous coal
consumption, as indicated by the close correspondence between the "calculated" line derived from this relationship,
shown in the second panel of chart 3, and the actual consumption. In the war years, for reasons already noted, there
were deviations, but in subsequent years the prewar relationship was restored.
Rising coal costs
Analysis of the elements of this correlation provides some
insight to the historical trends as well as the recent behavior
of bituminous coal consumption. Of outstanding importance is the fact that the volume of coal consumed has
declined gradually during the past 25 years in relation to
the volume of industrial production. This development was
only in small part due to the progressively more efficient
utilization of energy by industry. Of even greater influence
was the growth in facilities for utilization of other fuels, and
especially, the rising cost of coal in relation to the cost of
competitive products. The extent of the change in cost of
bituminous coal relative to the cost of directly competing
fuel oil is illustrated in the following tabulation: l
Percent change
Period
1948 to 1949
1940 to 1949
1926 to 1949
_.
+6
+101
+101
Residual
oil, No. fi,
Oklahoma
-56
+102
—12
Bunker C,
New York
-37
+42
+9
Diosol. shore
plants, New
York
-10
+84
As the tabulation shows, the disparity of movement between the two prices was especially pronounced in the movement from 1948 to 1949. Unlike bituminous coal, the price
of fuel oil responded sensitively to the adjustment in demand
during this period. Consumption of energy derived from
all fuels and waterpower declined only moderately—by 5
percent—between 1948 and 1949, while consumption of bituminous coal dropped by 15 percent. 2
Price and Wage Developments
The over-all level and structure of prices have been characterized by remarkable stability since the summer of last
year, reflecting the firmness of demand as well as rigidities
in several important cost elements. Most of the important
revisions in market quotations from 1948 highs occurred in
the first 6 months of 1949. Through early 1950 the principal
development at retail has been the continued gradual downward adjustment of food prices to the lower level of farm
prices established in 1949, as described in the February issue
of this SURVEY. 3 In wholesale markets the major change
was the leveling off of the decline in farm prices and the suggestion of moderate recovery in this segment in February
and March. Since July of last year the index of wholesale
prices of commodities other than farm products and foods
has varied within a range of less than 1 percent.
1
It is of interest to note that much the same generalization will hold if comparison is made
with the price of natural gas, which also competes with bituminous coal though not to the
same extent as does fuel oil. The price of natural gas in 1949 was less than 2 percent higher
than in 1948, only 13 percent higher than in 1940, and 7 percent higher than in 1926.
2 The basic trends in the industry were reviewed in the July 1948 SUBVEY in the article
"Changing Patterns of Fuel Consumption" by Murray F. Foss.
3 See especially pp. 11-12.
Table 2.—"Percent Change in Prices and Hourly Earnings
November
1948 to
July 1949
July 1949
to
February
1950
November
1948 to
February
1950
All manufacturing:
Average hourly earnings
_ _ _
Wholesale prices, excluding farm and foods
+0.8
-5.6
+0 9
+.6
+1.6
-5.C
Metal and metal products (excluding
vehicles) :
Yv^rage hourly earnings
Wholesale prices
4- 5
—5 4
4-1 1
+8
4-1 7
—4 7
Motor vehicles:
Average hourly earnings
Wholesale prices
+1.4
+ 4
-.7
_ 2
-.7
— 2
Lumber:
Average hourly earnings
Wholesale prices
+1.0
—10 9
-2.2
4-5 3
-1.1
—6 2
Cement:
Average hovrlv earnings
Wholesale prices
+4 8
— 1
—2 3
+1 4
+2 4
Structural clay products:
4verafff Mou r lv earnings
Wholesale prices
— 4
+ 7
+ 2
+1 0
+1 7
+1 1
0
4-2 5
0
+3 7
— 9
4 o
+1 4
i i 0n
+1.
4-2 4
+1 7
—10 0
+3 2
—4*6
4-4 Q
—14 1
+5 8
—12 1
-1- 1
—2 4
+5 8
—14 2
Textile-mill products and apparel:
Avoro"'e hourlv earnings
Wholesale prices
—2 3
—6 4
+3 6
+ 1
+1 2
-63
Shoes (Footwear, except rubber):
Average hourly earnings
_ __
Whole -ale prices
—1 7
—2 3
+ 6
+ 3
—1 1
—2 0
Leather:
\verage hourly earnings
Wholesale prices
+1 3
-4.6
+1 7
4.3 o
-3.9
—1.0
—2 8
— 6
— 9
—3 7
Paper and pulp:
•Vvorap'c hourlv earnings
\Vl ir >lcsale prices
+1 3
—7 7
+ 7
— 8
+2 0
8 4
Refined petroleum products:
Average hourlv earnings
Wholesale prices
—.1
—10 3
—.6
_ 7
— 7
—10 9
+1.7
—8.5
+ 7
+6 1
4-2 5
-29
—2.9
o
+2 5
0
— 5
+3 2
o
+1 8
0
+5 0
—1 6
-.9
+8 2
0
+6 5
— 9
Industry group!
Glass and glass products:
'Vveraue hourlv earnings
Wholesale prices
-
--
motor
- -
.Furniture and fixtures:
4vfrugn hourlv earnings
Wholesale ~^>rice"
Paints, pigments and fillers:
Average hourlv earnings
Wholesale prices
_ _ _ _ _
Chemicals (other than paints, pigments,
filler*) :
\vera-t'R hourly earnings
"VV}ioleqale oricc^
Price of fuel oi
Price of
bituminous
coal, mine
run
April 1950
Other leather products:
Average hourlv earnings.Wholesale prices
Tires and tubes:
Average hourly earnings
Wholesale prices
__
__
Cigarettes:
Average hourlv earnings
Wholesale prices
Cigars:
-Average hourlv earnings
Wholesale prices
__ _
— 2
o
O
0
and
_
Rubber footwear:
Averaae hourly earnings
Wholesale prices
— 1*3
o
o
1
Approximate comparability between prices and hourly earnings for the various groups
was obtained by regrouping and reweighting, when necessary, thnf basic data of the Bureau
of Labor Statistics.
Source: U. S. Department of Commerce, Office of Business Economics, derived from
U. S. Department of Labor, Bureau of Labor Statistics.
Wages rising
As shown in table 2, the lowering of the level of prices of
industrial goods was accompanied by a slow upward drift in
hourly earnings of employees in most manufacturing industries for which comparable data can be secured. In
addition, it should be noted, labor costs have been raised in
some industries by increased employer contributions to pension and welfare funds. Industrial prices in February were
5 percent below their high of November 1948. During the
April 1950
SURVEY OF CURRENT BUSINESS
same period hourly earnings in manufacturing industries
have advanced by almost 2 percent.
This disparity in movement is also apparent if attention
is directed to the change from the 1948 average to the 1949
average and comparison made between hourly earnings in
all nonagricultural industries and changes in consumer prices,
as the following tabulation shows:
Percent change
from 1948 to 1949
Consumer prices
Average hourly earnings in nonagricultural industries
— 1. 2
+3. 6
A gradual advance in hourly earnings in relation to prices
is a development which, of course, is ordinarily to be expected
in response to progressive gains in productivity and does not
necessarily imply a change in the relative size of the distrib-
utive shares of national income. From 1948 to 1949 the
ratio of the compensation of employees to national income
in the business sector of the economy (excluding government enterprises), did, however, rise somewhat—from 57.8
to 59.0—on the basis of preliminary data. This ratio was
about the same in 1949 as in 1946 and 1947, and moderately
above other years of high level employment. In 1929 the
ratio was at 55.6 and in 1941 at 57.3. Thus, despite the
relative behavior of prices and hourly earnings, there was
only a moderate alteration in the distribution of national
income between employees' compensation and all other
shares in 1949, which resulted primarily from the drop in
farm income, and the resulting relationship did not differ
markedly from earlier prosperous years.
Farmers* Planting Intentions
DURING the past 2 years farm output was at a higher
rate than in any earlier year and 6 to 8 percent above the
wartime peak in output reached in 1944. As demand for
United States farm exports declined with improved supplies
abroad and domestic demand eased slightly, stocks of many
farm products began to accumulate. In order to control
stocks and to reduce the cost of price support, programs to
curtail farm production were placed in operation on basic
farm products for 1950. Some indication of the reaction of
farmers to these programs may be seen in the regular report
of the Department of Agriculture on farmers' planting intentions for 1950.
This report suggests a moderate reduction in over-all
acreage, compounded of a reduction for the principal crops
where production controls are in operation and an expansion
for other crops which are not under control. Although
spring plantings reported for 1950 are about 4 million acres
larger than a year earlier, the total acreage which farmers
intend to have under cultivation this year is somewhat
lower. This reflects in part a reduction in winter wheat
plantings last fall of over 9 million acres. In addition it
may be noted that prospects for cotton are not included in
the spring planting report, and for this crop marketing
quotas already established call for a cut of about 5 million
acres. The net effect upon total acreage in crops in 1950
may be a reduction of about 3 percent below the 370 million
acres in 1949. The impact of part of this, of course, may
be offset by higher yields per acre.
The acreage subject to controls represents over half
of the cropland in 1949, with wheat, corn, and cotton accounting for almost all of the controlled acreage. Table 3
shows the intended acreage for 1950 for the principal crops,
excluding cotton, compared with actual plantings in previous periods. For the group subject to control, a reduction
in acreage from last year of 18 million is in prospect. This
is offset by an expected expansion of 13 million acres of
Qrops which are not subject to control at the present time.
The principal adjustment in acreage expected in 1950 as
compared with 1949 reflects varying degrees of adjustment in
the major crop regions as well as some changes which offset
each other and are thus concealed in the total figures for the
United States. There is an advantage, then, in viewing the
expected shifts in crop patterns within the three broad areas
corresponding to the principal crops under control—the
wheat, corn, and cotton belts.
Net curtailment in tvheat belt
In the 14 principal wheat growing States the changes in
acreage from 1949 to 1950 are indicated as follows in millions of acres:
Increases
Declines
Wheat. __
FlaxseecL
Corn
-10. 1
-1. 0
-1. 8
-12. 9
Rye
Oats
Barley
Sorghum
Play
Sugar beets
+0. 3
+3. 1
+ 2. 4
+2. 7
+0. 4
-j- 0. 1
9.0
The decline in flaxseed reflects a substantial reduction in
support price. The cut in corn acreage is primarily in the
commercial corn areas in Minnesota and Nebraska which are
adjacent to the corn belt proper. Most of the expansion in
the wheat area is in oats, barley, and sorghum. In addition
there was a substantial rise in fallowing.
Preliminary estimates of winter wheat production for 1950
indicate that yields will be lower than last year, because of
unfavorable weather, with output placed at 764 million
bushels, or about 15 percent less than in 1949. The total
acreage on which farmers in the wheat belt intended to grow
crops this year is 4 million smaller than 1949 plantings.
Offsetting
shifts in corn belt
By contrast, farmers in the 5 central corn belt States
indicated that they would plant about the same total acreage
in 1950 as in 1949. Expected reductions of about 10 percent,
or 3.6 million acres of corn, in these States were nearly offset
by expansions in hay, soybeans, oats, rye, and barley. If the
adjacent States, Minnesota and Nebraska, are included the
cut in corn acreage amounts to 5.3 million acres and the net
reduction in total crop acreage in this area rises from about
one-half million to 1.2 million.
This tendency of the corn belt to maintain acreage is partly
attributable to the fact that the reduction in corn was small.
Farmers who grow no more corn than they need for feeding
livestock on their own farm were not necessarily affected by
the acreage allotments which are applicable only to those who
plan to sell corn. In addition, corn belt farmers had numerous alternatives for crop expansion, as indicated by the significant rise in acreage of 5 crops on which there were neither
restrictions nor announced reductions in support price.
It may be noted that prospective acreage for corn is particularly subject to change, since most farmers did not know at
the time they reported what allotments they would receive
for 1950.
Plantings reduced in South
A complete report is not available on planting intentions in
the South, since the collection of official information on
cotton crop prospects prior to July 1 is legally restricted.
(Continued on p. 24)
By Lawrence Bridge and Bernard Beckler
Capital Investment Programs
and Sales Expectations in 1950
LMERICAN business, exclusive of agriculture, plans
another year of large capital expansion, although the aggregate investment will be less than the high figures of the
previous 2 years. Expenditures for the construction of new
plant and the purchase of new equipment are scheduled at
$16.1 billion during 1950. This is $2 billion, or 11 percent
less than in 1949.
This downward adjustment in capital outlays is not due
to any expectation of a change in the current favorable
market for goods, but stems rather from the gradual catching
up on the backlog demand for plant and equipment carried
over from the war. Actually, businessmen responding to
this survey anticipate that sales in the aggregate will be as
high in 1950 as in the preceding year.
These results are based on reports submitted between
mid-January and mid-March in the annual survey of plant
and equipment expenditures and sales conducted jointly by
the Office of Business Economics and the Securities and Exchange Commission. The data presented in this article are
estimates for all nonagricultural business based on a sample
composed of most corporations registered with the Securities
and Exchange Commission and a large number of unregistered manufacturing companies, unincorporated as well as
corporate, reporting to the Office of Business Economics.
Investment Programs
In 1950 as a whole, anticipated business expenditures of
$16.1 billion on new plant and equipment compare with
$18.1 billion of capital outlays in 1949. Plant and equipment costs have risen slightly in the early months of 1950
and are currently about the average level prevailing in 1949.
It would appear that the physical volume of outlays in
1950 based on current anticipations may be off about as
much as the indicated dollar volume.
The $8.4 billion of expenditures planned by businessmen
in the first half of 1950 is 8 percent below actual expenditures in the corresponding period of 1949. However, this
volume of outlays, on a seasonally adjusted basis, represents
maintenance of the rate of expenditures which prevailed
during the second half of 1949 (see chart 1).
This evidence of continued strength in fixed investment in
the current period is corroborated by the new and unfilled
orders data in the early months of 1950. Orders received
during January and February by manufacturers—including
producers of machinery and equipment—generally showed
substantial increases over the end of 1949, rising even more
than sales.
First half steady—second half to decline
Thus, the major impact of the reduction of capital outlays
anticipated for 1950 will be felt in the second half of the year.
A proper evaluation of the extent of this decline requires
NOTE.—MR. BRIDGE AND MR. BECKLER ARE MEMBERS OF THE BUSINESS STRUCTURE DIVISION, OFFICE OF BUSINESS ECONOMICS.
adjustment for seasonal influences and for factors peculia
to anticipatory data. Allowing for the normal seasonal in
fluences found in actual expenditures, the implied declin
from the first to the second half of the year is almost 13 pei
cent. However, actual expenditures as reported in the fourt
quarter, unlike anticipated outlays, are raised by the conoen
tration of certain charges to capital accounts in the end c
year statement. Making rough allowance for this factoi
the decline would be closer to 10 percent.
Chart 1.—Trend in Business Expenditures for New Plan
and Equipment 1
BILLIONS OF DOLLARS
25
20
15
10
©ANTICIPATED
I
I945
I946
I
I947
I
I
I
I948
I
I
I
I
I949
I
I
I
I960
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES*/
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
5O-I26
1
Data exclude expenditures of agricultural business and outlays charged to current account
Anticipated expenditures were reported by business between mid-January and mid-Mare!
of 21950.
Latest plotting point is for the last half of 1950, seasonally adjusted, at annual rate.
Sources of data: U. S. Department of Commerce, Office of Business Economics, and Seen
rities and Exchange Commission. Seasonal adjustment by Office of Business Economics.
In addition, past surveys have indicated that anticipatec
outlays in the latter part of the year are understated relative
to the early part of the year due to the lesser completeness o
future programs as compared to near-term budgets. Thus
in the second half of 1949, as well as in earlier years, actua
expenditures were somewhat higher than those anticipated a
the beginning of the year. Moreover, the returns from (
special questionnaire designed to determine the reasons fo:
differences between actual and planned expenditures fo;
individual companies indicate that there is a systemati<
tendency in this direction.
It is, therefore, likely that the suggested downturn in th<
second half of 1950 is somewhat overstated—and may b<
closer in magnitude to the decline which took place from th<
April 1950
SUKVEY OF CURRENT BUSINESS
first to the second half of 1949. This would also suggest
that the anticipation for the year as a whole may err on the
low side.
Chart 2.—Business Expenditures for New Plant and
Equipment, by Industry Groups *
Each major group lower for the year
BILLIONS OF DOLLARS
12.0
For the year 1950, every major industry anticipates a
lowered rate of plant and equipment investment. (See chart
2.) Railroads and other transportation show the largest
cut-backs from 1949, amounting to 31 and 35 percent,
respectively. Gas and electric utilities anticipates the smallest decline (6 percent), with manufacturing concerns a close
second (7 percent). The mining and commercial and miscellaneous groups report declines varying little from the
average for all industries.
Within manufacturing, both plant and equipment expenditures are expected to decline with the proportion of
equipment to total outlays rising moderately. There was
little difference by size of firm among manufactures in the
relative changes in planned capital outlays.
4.0
1.2
First, the preliminary findings of a survey, initiated by the
Office
of Business Economics to determine the factors influ
I
j
I
i
I
i
MINING
.8
1.6
RAILROADS
1.2
.8
1.2
TRANSPORTATION OTHER THAN RAILROADS
.8
6.0
ELECTRIC AND GAS UTILITIES
4.0
•-—0
_
2.0
I
0
8.0
_^
I
COMMERCIAL AND MISCELLANEOUS
6.0
Influence of price movements
Reasons for slackened pace of investment
® ANTICIPATED
i
0
Postwar Trends in Capital Outlays
The capital programs of business for 1950 should be appraised against the background of the earlier postwar
developments in outlays for plant construction and producers' durable equipment. These outlays reached an alltime high in late 1948, after an uninterrupted 3-year period
of intensive expansion and modernization of industrial
facilities. By and large, the expenditures during this
period had eliminated a considerable portion of the backlog
in business demand for capital goods which had accumulated
during the war.
The leveling off in fixed capital outlays during the latter
half of 1948 developed into a moderate decline in the subsequent year. A reduction was also noted in other areas of
domestic investment during the first half of 1949, as inventories and residential construction—particularly the former—
joined in the downward adjustment in general economic
activity. During the second half of the year, business fixed
capital investment continued to decline, although a rise in
residential construction in the third and fourth quarters and
a lower rate of inventory liquidation at the close of the year
exerted a stabilizing force on aggregate private domestic
investment.
The rise and subsequent decline in the value of fixed
capital outlays reflected in part the movements of prices.
The postwar rise in plant and equipment prices continued
until early 1949, although the wholesale price index for all
commodities reached its peak the preceding summer. By
the fourth quarter of 1949, the average of plant and equipment prices was about 5 percent lower than a year earlier.
Dollar outlays had fallen 14 percent so that the reduction
in the physical volume of investment approximated 10 percent. The present survey results indicate a leveling out in
investment in the early months of 1950 and then a resumption
of the decline in both dollar outlays and in physical volume
which had started in early 1949.
While there are several factors resulting in these trends,
including the movements of sales and profits, probably the
principal influence has been the reduction in the backlog of
demand for capital goods in 1949 and 1950. There are various
independent indications of the importance of this factor in
recent years.
MANUFACTURING
8.0
~-®_
4.0
2.0
1945 46
47
48
49 50
Y E A R L Y TOTALS
1948
j_
1949
i
1950
HALF-YEARLY TOTALS,
AT ANNUAL RATES
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
SO-127
1
Data exclude outlays charged to current account. Anticipated expenditures were reported
by business between mid-January and mid-March of 1950.
2
Data include trade, service, communications, construction and finance.
Sources of data: U. S. Department of Commerce, Office of Business Economics, and Securities and Exchange Commission.
encing changes in the rate of fixed investment, are pertinent.
On the basis of early returns, of those reporting companies
anticipating a reduction of more than one-third from their
1949 capital outlays, approximately three-fifths indicate that
"completion of current capital investment program'7 is the
principal reason for this decline.
Second, an evaluation of postwar investment trends can be
made in terms of the long-term trend in the demand for
producers' durable goods. On this basis, the anticipated
capital outlays in the second half of 1950 is quite close to the
secular level which prior experience suggests is necessary to
maintain facilities and provide for normal growth in produc-
SURVEY OF CURRENT BUSINESS
8
tive capacity. A similar comparison for earlier years indicates that outlays in 1947 and 1948 were considerably,
and
in 1949 somewhat, above the secular trend.1
Thus, the influence of capital goods backlogs in the current
demand situation is dwindling rapidly. The demand for
capital goods is more closely in line with past relationships to
the physical volume of over-all economic activity and to net
income in 1950 than in any previous postwar period.
Chart 3.—Business Expenditures for New Plant and
Equipment: Actual and Anticipated l
BILLIONS OF DOLLARS
25
ANTICIPATED
20
15
10
1947
1948
1949
1950
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSfNESS ECONOMICS
5O-IO6
1
Data exclude expenditures of agricultural business and outlays charged to current account.
Anticipated expenditures were reported by business between rnH-January and mid-March
of the respective year.
Sources of data: U. S. Department of Commerce, Office of Business Economics, and Securities and Exchange Commission.
The substantial growth in the business population during
the 1946-48 period and its subsequent stabilization also had a
pronounced effect on the postwar trend in capital goods investment. On the basis of a study presented in another
article in this issue, "Capital Requirements of New Manufacturing Firms/' it is estimated that the direct contribution
of newly formed firms accounted for 10 percent of the total
investment in new plant and equipment during the 3 years
1946 through 1948.
The greatest impact on aggregate demand by new firms
occurred in 1946—the highest year on record in the number of
entrants into the business population. This factor declined
in importance throughout 1947 and 1948 and has been fairly
insignificant in 1949 and thus far in 1950.
Anticipated versus actual outlays
In evaluating the 1950 investment intentions of business,
attention should be drawn to the degree of accuracy with
which businessmen have anticipated their actual outlays in
the past. In 1949, aggregate expectations of business were
almost fully realized as nonagricultural business firms spent
$18.1 billion, within 1 percent of the amount that they had
anticipated spending at the beginning of the year. In corresponding surveys covering 1947 and 1948 (see chart 3),
planned outlays were 14 percent below those realized in the
former year and 3 percent below those realized in the latter
year.
The experience in these annual surveys augmented by the
more numerous quarterly surveys suggests that the degree
1
See "The Demand for Producers' Durable Equipment," SURVEY OF CURRENT BUSINESS,
June 1949.
April 1950
of accuracy in businessmen's projections of their dollai
expenditures on plant and equipment is closely related t(
movements in capital goods costs. In 1947, when business
men underestimated their outlays by 14 percent, the price
rise for capital goods during that year was of the same ordei
of magnitude. In 1948, with a smaller increase in capita
goods' costs and a greater availability of supplies, businessmen were able to forecast their expenditures with a greatei
degree of reliability.
It is quite possible, therefore, that anticipated outlays arc
largely in terms of physical volume and prevailing prices and
hence, do not sufficiently take account of price factors. 11
should be pointed out, however, that the general easing o]
supplies and the elimination of restrictions on nonresidentia
construction during 1947 and 1948 may also have permittee
larger increases in capital outlays than were considerec
feasible at the beginning of these periods.
As pointed out above, anticipated outlays for new plant
and equipment in 1949 were about 1 percent below actua"
expenditures while costs fell somewhat more between the
end of 1948 and the end of 1949. The coincidence betweer
planned and realized expenditures is especially noteworthy
since this period was a turning point in postwar business
investment.
Though movements in prices are not likely to affect perceptibly the investment plans of business this year, there are
two factors which may cause actual expenditures to diverge
from expectations. First, changes in economic conditions
do have some effect on investment plans. Thus, actual
expenditures in the first half of 1949 were lower than those
anticipated as a result of a temporary deterioration in the
economic picture, while estimated expenditures in the first
quarter of 1950 are higher than those initially planned
because of an improvement in business conditions. Second,
as pointed out earlier, there is probably some understatement
in anticipated fixed capital outlays for any period well in
the future, since businessmen generally tend to be conservative in their budgets or stated plans and are less likely to
report their more tentative plans over the longer term.
Quarterly trends
The trend of capital-goods investment during the first
three quarters of 1949, after allowance for seasonal influences,
was one of steady decline—falling approximately 12 percent
from the peak annual rate of $20 billion of outlays in the
fourth quarter of 1948. During the last quarter of 1949 and
the first quarter of 1950, expenditures remained at the thirdquarter rate of $17.5 billion.
Both the fourth quarter of last year and the first quarter
of 1950 were revised upward about 8 percent from their
initial anticipations. To a large extent the upward revision
in the earlier quarter was attributable to accounting adjustments. The revision in the first quarter of this year, however, was largely elue to the improvement in the business
situation at the close of 1949 and during the early months of
1950. These upward revisions occurred in all major industrial groups.
Anticipated outlays in the second quarter are about $500
million (at seasonally adjusted annual rates) below the first
quarter. The bulk of this decline was expected in manufacturing—although the data for the second half of 1950 indicate
that capital-goods outlays in this industry will decline less
from the first half than in any other major group.
Manufacturing investment down moderately
Capital outlays of manufacturers are expected to total
$6.7 billion during 1950, compared with $7.2 billion in 1949,
and $8.3 billion in 1948. The anticipated decline in expenditures in 1950 is more moderate, both in absolute and rela-
SUEVEY OF CUKRENT BUSINESS
April 1950
tive terms, than that which occurred from 1948 to 1949.
This is especially noteworthy since it was in this area that
the weakening of private domestic investment in 1949 was
most evident.
Anticipated expenditures during the first half of 1950,
after adjustment for seasonal influences, are somewhat higher
than the level which prevailed during the latter half of 1949.
During the second half of 1950, seasonally adjusted capital
expenditures by manufacturers are expected to fall somewhat
less than 10 percent—but, for reasons discussed above, the
decline may not be that large.
There are substantial differences in the 1950 investment
programs among the component groups in this industry.
For example, the automobile group anticipates a sizable increase; the steel and food groups, little change; chemicals, a
moderate decrease; petroleum, a somewhat larger decline;
and the textiles, leather, and apparel group, a very large
decrease.
The expected increase in capital outlays by the automobile
industry in 1950 will involve considerably larger expenditures
for both plant and equipment. In large part, this is due to
new facilities designed to improve the effectiveness of production, and to large outlays resulting from the growing importance of automatic transmissions.
In the petroleum industry, expenditures for new capital
goods this year are expected to be below the high 1949 total.
There is a general trend toward heavier expenditures for exploration, production, and pipe-line construction, but it is
anticipated that reductions in outlays for refining and marketing facilities will be more than offsetting.
When the 1950 plans of manufacturing companies are examined in terms of firm size, it is found that there is little
difference between the smaller and larger firms in the relative
changes from last year's capital outlays.
Manufacturing construction and
equipment expenditures
In 1950, as in 1949, manufacturing expenditures on equipment are expected to increase relative to expenditures on
plant—although in absolute terms anticipated expenditures
for equipment in 1950 are somewhat less than in 1949.
In the early postwar period, with aggregate demand for
industrial products considerably above supply, the efforts
of producers were directed toward a rapid increase in capacity
and output, though limited by restrictions on construction
and shortages of materials. As can be seen in the following
tabulation for manufacturing and mining firms, equipment
outlays in the 1946-48 period slowly declined relative to
9
plant expenditures,
but remained above the immediate
prewar average.2
1939-40
average
1946
1947
1948
1949
64
72
71
69
73
Percent of equipment expenditures
to total
new plant and equipment outlays 2
1950
75
During 1949 and 1950 the completion of a high proportion
of the immediate postwar capital expansion programs and
developments toward keener competitive conditions have
reversed the downtrend in the equipment proportion of total
outlays which had characterized the immediate postwar
years. A higher proportion of equipment outlays, as well
as of total capital expenditures, has been taking the form
of replacement and modernization expenditures rather than
additions to capacity. In the near future, cost reducing
machinery will probably become an increasingly significant
part of plant and equipment expenditures though capital
investment for new products may also rise in importance.
Railroad outlays down
The reduction in expenditures for new plant and equipment
anticipated for 1950 by the railroads exceeds that of all other
major industries with the exception of the other transportation group. Railroad outlays are expected to decline 31
percent from 1949, reflecting the effects of reduced traffic
and earnings during 1949 and also the completion of a
considerable portion of their postwar expansion in road
construction and equipment installation.
The downward trend in capital outlays has been especially
noticeable in deliveries of freight cars, one of the major
components of railway purchases. Shipments during the
early months of 1950 were approximately one-fourth as
large as those in the corresponding period of 1949. This is
reflected in the railroads' anticipation that total equipment
outlays in the first half of this year will be 35 percent below
the same period last year—as compared to a 15 percent
decline in construction expenditures.
Capital outlays in the first and second halves of this year
are each expected to be about 31 percent below the corresponding periods of last year. The extent of the downturn in the second half of 1950, however, may be overstated.
The roads' prospects for earnings and traffic in 1950 appear
more favorable each month. Despite the work stoppage in
2
Mining is included in these figures since manufacturing and mining were not segregated
in the prewar estimates. The 1939-40 estimates are not completely comparable to those in
the postwar period.
Table 1.—Business Expenditures on New Plant and Equipment, 1945-50 1
[Millions of dollars]
19502
19 49
Industry
All industries
Manufacturing
1945
1946
1947
1948
1949
1950 2
JanuaryMarch
AprilJune
JulySeptember
OctoberDecember
JanuaryMarch
AprilJune
JulyDecember
6,630
12, 040
16, 180
19, 230
18, 120
16, 090
4,460
4,660
4,370
4,630
4,110
4 260
7 720
3,210
5,910
7,460
8,340
7, 250
6,740
1,850
1,880
1,690
1 830
1 690
1 740
3 310
Mining
440
560
690
800
740
650
190
190
180
180
170
170
310
Kailroads
550
570
910
1,320
1,350
930
360
380
310
300
250
260
420
Other transportation
320
660
800
700
520
350
130
140
140
120
80
90
170
Electric and gas utilities
630
1,040
1,900
2,680
3,140
2,940
680
780
790
890
740
810
1 390
1,480
3, 300
4,430
5,390
5,120
4,480
1,260
1,290
1,260
1,320
1,170
1,180
2,120
Commercial and miscellaneous 3 _ _
1
Data exclude expenditures of agricultural business and outlays charged to current account.
2 Anticipated expenditures for 1950 were reported by business between mid-January and mid-March,
s Data include trade, service, communications, construction and finance.
Source: U. S. Department of Commerce, Office of Business Economics, and Securities and Exchange Commission.
879643—50
2
SURVEY OF CURRENT BUSINESS
10
coal in the first quarter, estimated car-loadings in the first
2 quarters of this year are above the corresponding periods
of 1949. Although unfilled orders for freight cars are considerably below a year ago, they have doubled since December. These orders indicate that a higher rate of deliveries
may occur in future months. In addition, the backlog in
orders for passenger cars and locomotives continues high.
The replacement of coal-burning steam locomotives by
Diesel-electric engines has been proceeding at a record rate.
As a result of this program 35 percent of the 1949 freight
traffic of class 1 roads was hauled by Diesel-electric locomotives as compared with 10 percent in 1946 and less than
one percent in 1941. Installations of Diesel locomotives in
the first 2 months of 1950 exceeded the previous year's rate
by 10 percent.
Utilities investment remains high
Sales Anticipations
Sales anticipations for the entire year 1950 were reported
in this survey along with annual plans for capital outlays.
According to the replies of this representative cross section
of American industry, business firms in aggregate expect to
maintain in 1950 approximately the same level of sales as in
1949.
Within industry groups, modest advances in sales volume
are anticipated by electric and gas utilities and manufacturing—industries, which, as noted above, expect the smallest
cut-backs in capital outlays compared with 1949—while slight
reductions are expected by trade and transportation concerns
other than railroads. The following table shows the anticipated changes in sales in 1950 and actual and anticipated
changes in the 1947-49 period for selected industries. The
data indicate that sales expectations in 1948 and 1949 were
realized within a reasonable margin of error.
Percentage change in sales *
IVTanufacturing
Electric and gas utilities
Trade
— -Other transportation
-
1948 to 1949
Actual
Anticipated
Actual
+11
+12
+8
+16
+5
+12
+2
+19
-6
+7
+3
Anticipated
3
1950
Anticipated
a
-3
i The percentage changes in actual sales are based upon total sales for manufacturing and
trade, and revenues by utilities and nonrail transport agencies. Data on revenue anticipations were not collected for railroads.
The postwar trend in manufacturing sales is shown in
chart 4. Within manufacturing, 1950 sales in most major
industries were expected to be little changed from their 1949
levels.
However, the producers' goods industries, unlike other
manufacturers, anticipated a slight decline in their sales this
year, reflecting the moderately lower capital outlays programmed by business as a whole.
Chart 4.—Manufacturers' Sales
BILLIONS OF DOLLARS
250
200
Capital expenditures by electric and gas utilities in 1950
are programmed at $2,940 million, 6 percent below the
previous year but approximately 10 percent above 1948.
Seasonally adjusted data indicate that little decline from the
fourth quarter is expected in the first half of 1950, so that
the indicated annual decline will be concentrated in the
second half of this year.
Expenditures by both the electric and gas utilities are
expected to decline this year. In the electric-utility industry, increased outlays in transmission lines and general
plant construction are expected to be more than offset by
lower investment in generation and distribution facilities.
A major element of strength in the gas-pipe-utility field is
line construction. During 1949, long-distance lines brought
increasing quantities of natural gas from the Texas, Louisiana, Oklahoma, and Kansas fields into the heavily populated
northeast area. Much larger quantities are expected to
reach this area during 1950 with completion of such pro jests
as the 1,850-mile pipe line from the lower Rio Grande Valley
to the New York metropolitan area.
1947 to 1948
April 1950
150
100
50
1947
1948
- ACTUAL •
1949
1950
ANTICIPATED If
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
5O-I38
* Anticipated sales were reported by business between mid-January and mid-March of 1950.
Source of data: TJ. S. Department of Commerce, Office of Business Economics.
In correspondence with the findings noted above concerning investment programs by size of firm, sales anticipations
show little evidence of significant differences between large
and small manufacturers. This is in rather sharp contrast
to the size comparison in the previous survey conducted early
in 1949. In that survey large manufacturers anticipated an
increase in sales volume for 1949 over 1948 of approximately
5 percent as compared with an expected decline of 4 percent
for medium-size firms and 8 percent for the smallest size
group.
It may be noted that sales programs of business are not so
firm as investment plans. Sales for a particular firm are
subject to forces of demand largely outside the control of
the individual business concern. Investment decisions, on
the other hand, although influenced by the current demand
for the firm's sales product, are determined by other independent considerations and in addition involve commitments
some time in advance.
While manufacturing and trade anticipated that the end
of the upward movement in sales in the early postwar period
would occur in 1949, they did not envisage the extent of the
decline that was actually experienced. In the previous year,
manufacturing and trade firms anticipated only part of the
increase which occurred in sales. These differences, for
reasons indicated in the discussion of investment programs,
can be explained largely in terms of movements in prices
subsequent to the time the anticipations were reported.
However, sales expectations—to a much greater extent than
investment plans—are probably also considerably influenced
by the rate of operations at the beginning of the period. The
greater accuracy of anticipated sales by electric and gas
utilities reflects the relative stability in their prices as well as
the close relationship between capacity and consumption
over the postwar period.
By Lawrence Bridge and Lois E. Holmes
Capital Requirements of
New Manufacturing Firms
JL HE RAPID growth in the business population through
mid-1948 and its relative stability thereafter was a significant factor in the postwar trend in investment. The purpose of this article is to provide a quantitative measure of
the contribution to over-all investment by new manufacturers
in the 1946-48 period and the manner in which such investment was financed. In addition, data are presented on the
industrial differences in average and aggregate capital requirements of new manufacturing firms. As discussed at
length in the technical notes, the results are based upon the
reports of about 1,100 new manufacturing firms which furnished information for the years 1946 through 1948. This
article supplements a similar analysis for new trade firms in
the December 1948 SURVEY.
These two studies go a long way toward providing an appraisal of the effects of changes in the postwar business population upon the total volume of investment in fixed assets
and inventories. While other industries remain uncovered—
notably services and construction—new manufacturing and
trade firms combined probably account for more than 90
percent of the inventories and 60 percent of the plant and
equipment investment of all new nonagricultural firms.
Summary
Of the estimated $2 billion total of initial capital requirements by new manufacturers during the 1946-48 period,
$800 million was expended on new plant and equipment,
$300 million on inventories, $500 million in additional working capital, and $400 million on used plant and equipment.
The expenditures for new plant and equipment and for
inventories were each about 4 percent of the similar investment by all manufacturing firms. For all nonagricultural
business combined, it is further estimated that the direct
initial contribution to aggregate investment by new firms
in this period amounted to about 10 percent in new plant
and equipment and 15 percent in inventories.
About $1.2 billion of the capital requirements of new
manufacturers was financed out of the entrepreneurs7 accumulated personal savings. An additional $300 million was
supplied by parent companies' loans and equity investment,
and loans by relatives, partners, officers, and directors.
Advances by banks, merchandise and equipment suppliers,
and government agencies accounted for over $450 million
of the initial funds—banks alone accounted for over $250
million, merchandise suppliers for $50 million, and equipment
suppliers for $150 million. The remaining investment funds
came from the sales of more than $50 million of new stock
and $10 million of bond issues.
This distribution of the major sources of funds was quite
similar to that found among new trade firms. For both industry groups, equity financing, including the personal saving
of entrepreneurs, constituted about two-thirds of the total
sources of funds for new firms.
NOTE.—MR. BRIDGE AND MISS HOLMES ARE MEMBERS OF THE
BUSINESS STRUCTURE DIVISION, OFFICE OF BUSINESS ECONOMICS.
The capital markets were of little importance as a source
of funds for new firms. Combining new manufacturing and
trade concerns, about $100 million was raised from public
issues during this 3-year period. Bank loans—constituting
over 13 percent of the total sources of funds for new manufacturing and trade firms—were more important, amounting
to more than $1.0 billion for the two groups combined. While
new trade and manufacturing firms accounted for over 10
percent of the total change in outstanding bank loans during
this period, public issues for these new firms represented less
than 1 percent of total net new issues.
Aggregate and Average Investment
The establishment of 166,000 manufacturing firms in the 3
years 1946 through 1948 resulted in an estimated
initial
capital investment of approximately $2 billion.1 The lumber
and timber basic products industry accounted for almost 25
percent of this investment and nearly 45 percent of the total
number of new manufacturing concerns. This group included over three-fifths of all firms without any employees—
and, as a result, had the lowest average investment of any
major industry.
The textiles industry with less than 2 percent of the total
new entrants accounted for 6 percent of the aggregate investment as a result of its high average requirements. New
manufacturers in the food, apparel, metals, machinery and
stone, clay and glass industries accounted for from 6 to 9
percent each of the over-all investment. The lowest aggregate investment—and the lowest number of new firms—
were in the rubber and petroleum products industries.
As compared with manufacturing, the initial capital
requirements of new wholesale and retail trade firms in the 3
years 1945-47, as indicated in the previous survey, amounted 2
to $1.5 billion and $5 billion, respectively. (See chart I.)
The average initial investment of manufacturing firms, inclusive of no-employee firms, is estimated at $12,000 as
compared to $22,000 and $9,500, respectively, in wholesale
and retail trade.
The average initial investment of new lumber firms was
only slightly over $6,000, compared to an average investment
by new non-lumber manufacturers of $16,500. Lumber and
apparel were the only industries with investment below the
average for all manufacturing. The largest average investment, $43,000 and $22,000, respectively,
was found in the
textiles and food processing industries.3
1
This figure is based on appropriately weighted sample data plus a rough estimate of the
investment of new manufacturers without any employees. This estimate is more fully discussed in the technical notes.
2 These estimates have been slightly revised since publication in the December 1948 SURVEY
OF CURRENT BUSINESS due to a revision of the population statistics (see "Revised Estimates
of the Business Population, 1929-48," SURVEY, June 1949). It will be assumed in this article
that no adjustment is necessary for the differences in timing in the two studies. 1946 and
1947—the 2 years common to both surveys—accounted for more than 70 percent in trade, and
75 percent in manufacturing, of all entrants in these fields during the respective survey periods.
While fixed assets and other costs were considerably higher in 1948 than in 1945, the number
of 3new manufacturing firms established in 1948 was one-fifth lower than in the earlier year.
On a more detailed industry breakdown, some industries—e. g., automobile manufacturing—would show a higher average investment than the groups indicated above.
11
SUEVEY OF CUEEENT BUSINESS
12
Charts 2 and 3 show the average investment of new firms
for the major manufacturing industries and by sales-size
within these industries. In view of the low average investment for the universe of new lumber firms, it is interesting to
note that, when firms with no employees are eliminated, the
average investment in this field is higher than the average for
all manufacturing industries. The average investment in
apparel was lower, and in food and textiles higher, than the
all-industry average for a given sales-size. The latter results
are consistent with the over-all figures inclusive of firms without employees.
As pointed out in the previous article on trade firms, the
availability of capital and the price level in the postwar
period had a considerable influence on both aggregate investment or scale of operations of these firms and the distribution
of that investment among uses as well as sources. It is also
quite possible that the average experience differs from the
optimum capital requirements of these firms.
Chart 1.—Manufacturing and Trade Firms Starting
Operations in the Postwar Period: Sources and Uses
of Initial Investment l
BILLIONS OF DOLLARS
6
SOURCES OF FUNDS
USES OF FUNDS
_
«.
H
_
OTHER
SOURCES £/
i
11
4 -
_
1
BANK LOANS,
(including
mortgages) —
OTHER USES
-
—
SUPPLIER
CREDIT
CAPITAL STOCK
2
;,
O
INVENTORIES
1
PERSONAL
SAVINGS
MFG.
WHOLE- RE1946 TO
SALE TAIL
1948
1945 TO 1947
7^
/$
EQUIPMENT^
PLANT-?/
MFG. WHOLE- RE1946 TO
SALE TAIL
1948
1945 TO 1947
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
50-132
1
See text footnotes 1 and 2, page 11.
2
Includes bonds and a small amount
3
of nonbank mortgage loans.
Includes renovation, land, and a small amount of depletable resources.
Source of data: U. S. Department of Commerce, Office of Business Economics.
Limitations of the sample data
Thus far, this article has presented universe estimates
based on the sample data. The size of the sample, however,
does not permit the derivation of all of the universe estimates
necessary for comprehensive examination of the characteristics of new manufacturing firms. In the following detailed
analyses of the survey results, the unadjusted sample data
will be used whenever there is stratification by size and legal
status. This stratification adjusts for the inadequate representation of firms no longer in business, and for other disproportions of the sample. Where such stratification is not
April 1950
shown, the sample data have been weighted by size and legal
form of organization.
The shortcomings of the data and some measures of their
sampling variability are fully discussed in the technical notes.
It may be noted here that the major limitation in the sample
arises from the absence of firms with no employees, though
an adjustment for this group has been made in arriving at the
universe estimates. In general, the errors of estimation
associated with the sample data are relatively small. However, in tables 1 and 6 where dollar figures by size and industry are given, the large number of cells results in rather
sizable sampling variability in some instances so that the
data should be used as orders of magnitude rather than
precise measures.
It should be noted that the investment-size classification
is based on initial investment without regard to either year
of entry or subsequent changes in assets. The sales-size
tabulation is based on 1948 sales without any allowance for
either the year of entry or the differential growth in sales
during the 1946-48 period. The classification of firms
operating from 6 to 11 months in 1948 was based on. the
annual rate of their partial year sales in 1948. Firms operating less than 6 months in 1948 were eliminated from this
tabulation.
Another factor meriting mention here relates to the timing
of the data submitted by the sample firms. The reporting
firms could be divided into three clearly defined groups.
The first group, consisting of 92 percent of the sample, reported their investment essentially at the time they started
production.
The second group reported their assets and liabilities on
the last day of their first calendar or fiscal year in business.
These companies (about 3 percent of the sample) reported
small amounts of trade receivables and net profits or losses.
The initial investment of these firms was adjusted by either
reducing (or increasing) their investment by the amount of
net profits (or losses) reported.
The last group (about 5 percent) reported their investment
some time before their start of production. These companies
typically report their entire investment as current assets
(other than inventories) and, on the sources side, as equity
capital. Since many firms in this group were still exploring
credit lines, there was some understatement in the amount
of reported investment. The reports of these firms were
eliminated from the sample tabulations.
Sources of Capital Supply
About 59 percent of the capital requirements of all new
manufacturers was met by the equity capital investment of
the entrepreneurs themselves. Another 7 percent was also
equity capital coming from parent companies and the capita]
markets—mainly the former. The remaining 34 percent
was debt financing, with the banks supplying 13 percent
(mostly mortgage loans), merchandise and equipment supplies 9 percent, and bond sales less than 1 percent. Loans
by individuals, parent companies, and governmental agencies
accounted for 11 percent.
The distribution of the sources of capital supply of new
manufacturing establishments differed according to size of
firm, legal status, industry and, within firms, by the uses of
invested capital. The most significant divergencies are
noted when comparison is made in terms of sales-size and
investment-size (tables 2 and 3).
As the firm-size increased, the relative investment in total
equity capital among both corporate and noncorporate firms
declined and total debt financing increased. However,
within corporate equity capital, the relative importance of
stock subscriptions by parent companies and by the general
SURVEY OF CURRENT BUSINESS
April 1950
public varied directly with size of firm,
while those by
officers and directors varied inversely.4 Similarly, within
debt financing, while merchandise credit, industrial bank
loans, and mortgages on business properties increased with
firm-size, there was a tendency for nonbank, nonsupplier
credit to decrease. The latter tendency was due to the
influence of loans from friends and relatives—an important
source of funds for the smaller concerns.
When the sample data were examined by legal status, it
was found that the equity in new corporate firms was
somewhat larger than in new unincorporated concerns within
comparable size groups due to the greater availability to
corporations of parent company and general public equity
funds (see chart 4). Within comparable—and especially in
the larger—sales-size groups, personal savings of noncorporate entrepreneurs were a higher proportion of initial
investment than were stock subscriptions of officers and
directors in corporations.
Chart 2.—Manufacturing Firms Starting Operations in
the 1946-48 Period: Average Initial Investment, by
Industry 1
C)
INDUSTRY
r
ALL INDUSTRIES
10
i
THOUSANDS OF DOLLARS
20
30
40
I
I
i
- ...... jg
TEXTILE-MILL
PRODUCTS
'mmmmMmmmMmmmm
FOOD AND KINDRED
PRODUCTS
WMMMMW/m
LEATHER AND
PRODUCTS
^^^^^^^ii^
tmmmmm
wmmmm
STONE, CLAY, AND
GLASS PRODUCTS
TRANSPORTATION
EQUIPMENT
METALS AND METAL
FABRICATING -S/
FURNITURE AND
FINISHED LUMBER
PRODUCTS
'mmmm
\rnmm
LUMBER AND TIMBER
BASIC PRODUCTS
nn
MISCELLANEOUS
^mmmwm
i
U. S. DEPARTMENT
OF CO VMERCE, OFFICE
i
i
i
OF BUSINESS ECONOMICS
50-130
1
2
Sec text footnote 1, page 11.
Classification excludes machinery and transportation equipment.
Source of data: U. S. Department of Commerce, Office of Business Economics.
The methods of financing new firms are also associated
with, and in some cases dependent upon, the distribution
of these funds into the various types of assets. For example,
the entrepreneur purchasing a plant has access to either a
mortgage loan or an industrial loan, secured by his plant.
The volume of credit available from suppliers of merchandise
and equipment is, of course, related to the size of inventory
and equipment investment. Bank credit is also obtained
on equipment and inventories—although these types of collateral are not so important as plant.
4
It should be noted that, in this article, stock subscriptions by the general public refer to
stock subscribed by other than the officers, directors, and parent or affiliated companies of a
new firm—and not necessarily to widely distributed public offerings. There was only one
sizable public issue registered with the Securities and Exchange Commission which was in
the scope of this survey. This issue by an automobile company accounted for over onefourth of the estimated stock sales to the general public.
Sources by industries
In general, the industrial differences in the distribution of
the sources of investment funds among new manufacturing
firms were found to be related to variations in fixed assets
and inventory requirements, and, to a lesser extent, to average investment. This can be seen by referring to the data
in table 4. For example, apparel manufacturers with relatively low plant and inventory investment received proportionately less industrial and mortgage bank loans and
less merchandise supplier credit than did most other industries. They purchased moderately less equipment and
received moderately less equipment credit than did the average new manufacturing firm. And, as might be expected
on the basis of their low average investment, apparel manufacturers relied relatively more heavily on equity capital
(including personal savings) than did most other industries.
Sources of funds of new and established
corporations
Although balance sheet data are not available for all noncorporate manufacturers, comparison can be made between
the liabilities of new manufacturing corporations and those
of existing corporations. The relative initial equity among
new firms was found to be considerably greater than among
small concerns which have been operating for a period of
years and which are most directly comparable in size to new
firms.
The initial short-term liabilities of new manufacturing
corporations were much lower, and long-term liabilities were
about the same, as were the corresponding proportions
among small existing concerns. In long-term liabilities, the
considerably smaller proportion of bonded debt of new firms
was offset by the relatively larger mortgage debt.
m^mmm
'mmmm
APPAREL AND
RELATED PRODUCTS
MACHINERY
50
13
Flow of saving into investment
It is estimated that all manufacturers starting operations
in the 3 years 1946 through 1948 transferred more than
$1.2 billion of their accumulated personal savings into assets
of their businesses. Approximately $550 million of this
investment was channeled into new corporations in the form
of stock subscriptions by officers and directors. The remainder represented the personal savings of noncorporate
entrepreneurs.
Thus, with the over $4.4 billion of personal savings invested
in new trade firms, about $5.6 billion of the $8.5 billion
total capital requirements of new manufacturing and trade
firms in the 3 postwar years was met by the past savings of
the entrepreneurs themselves. Additional stock subscriptions by parent or affiliated companies and the general public
brought the total equity capital initially invested to about
$5.8 billion. Of this amount, $4.8 billion went into noncorporate enterprises and $1.0 billion into corporate concerns.
In addition, these new firms provided direct investment outlets for other individuals' savings—mostly in the form of
personal loans and, to a much lesser extent, in new issues of
bonds.
Based on the sample, 47 percent of both corporate and noncorporate new manufacturing firms was financed entirely
through personal savings or through
capital stock subscriptions of officers and directors.5 An additional 48 percent
supplemented personal savings with debt financing. Of the
remaining 5 percent, 2 percent (almost 4 percent of the corporate sample) financed entirely through parent company
stock investment, almost 3 percent (6 percent of the rion6 Since the use of personal savings has been found to vary inversely with size of firm, the exclusion of firms with no employees from the sample results in an understatement of the proportion of firms financing entirely through personal savings.
SUKVEY OF CURRENT BUSINESS
14
April 1950
corporate sample) entirely through debt financing and less
than one-half of one percent entirely through stock sales to
the general public.
on nonbusiness properties varied inversely with size. The
latter result was probably due to the greater use of mortgage
loans on residences by the smaller entrepreneurs.
Chart 3.—Manufacturing Firms Starting Operations in
the 1946-48 Period: Average Initial Investment, by
Industry, Grouped According to Sales in 1948 1
Supplier credit and capital requirements
INDUSTRY
50
THOUSANDS OF DOLLARS
100
150
200
250
FOOD AND KINDRED PRODUCTS
MACHINERY.
TRANSPORTATION
EQUIPMENT
STONE, CLAY, AND
GLASS PRODUCTS
METALS AND
METAL FABRICATING I/
UNDER $50,000
$50,000-$249,999
$ 250,000 AND OVER
TEXTILE-MILL
PRODUCTS
LUMBER AND
TIMBER BASIC
PRODUCTS
APPAREL AND
RELATED PRODUCTS^
FURNITURE AND
FINISHED LUMBER
PRODUCTS
MISCELLANEOUS
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
1 The data represented by this chart should be used to indicate orders of magnitude rather
than precise measures of average investment. See also footnote 1, table 1, and "Technical
Notes"
section in the text.
2
Classification excludes machinery and transportation equipment.
Source of data: U. S. Department of Commerce, Office of Business Economics.
Bank credit as source of funds
Bank credit was the most important form of debt financing utilized by new manufacturers in the 1946-48 period.
This result is similar to that found in the survey of new trade
firms. Of the more than $250 million of bank credit to new
manufacturers, 37 percent was mortgage loans on business
properties, 20 percent was mortgage loans on other properties
and the remaining 43 percent was in the form of nonmortgage
industrial loans.
For sample firms only, about one out of every five reported
receiving bank credit totaling 35 percent of their combined
initial capital requirements and 15 percent of the requirements of all sample firms. In general, bank credit was
utilized to a greater extent proportionately by firms with a
larger investment in fixed assets, by the larger concerns and,
for a given size of company, by noncorporate firms for which
such credit was more readily available as a result of their
unlimited liability. New firms owning their plants, accounting for 21 percent of the concerns in the sample, received 75
percent of all bank credit.
When examined by type of bank loan, it is found that nonmortgage loans and mortgage loans on business properties
tended to assume greater relative importance as firm size
increased, while the relative importance of mortgage loans
Suppliers of merchandise and equipment to new manufacturing firms advanced almost $200 million of the latters'
initial capital requirements. Almost three-fourths of this
credit was on the purchase of equipment. While this was
partly a reflection of the greater investment by new firms in
equipment than in inventories, it may also be evidence that
supplier credit was relatively easier on equipment purchases
than on merchandise purchases. For all new firms, merchandise credit was 18 percent of inventory investment while
equipment credit was 24 percent of new equipment outlays.
It should be noted that small existing firms also utilize
equipment to a greater extent than inventories as collateral
on bank loans.6
The sample returns pointed to clear relationships between
merchandise credit and inventory investment and between
equipment credit and equipment purchases. In general, the
data indicated that the relative proportions of both equipment and equipment credit to total investment varied inversely with size, while the proportions of both inventories
and merchandise credit varied directly with size. However,
there was a tendency for the ratios of credit to purchases of
both equipment and merchandise to increase with firm-size—
probably reflecting the better credit standing of the larger
firms.
Other sources of funds
Almost $250 million of the initial credit needs of new manufacturers was supplied by nonbank and noiisupplier sources.
Among the sample's corporate firms about 25 percent was
supplied by officers and directors, 18 percent by parent
companies, 16 percent by stockholders of undesignated type,
5 percent by government agencies (mainly Keconstruction
Finance Corporation and the War Assets Administration),
5 percent by nonbank mortgages, 6 percent by personal loans
(other than those stipulated above), and 25 percent by
unspecified lenders.
Among the sample's noncorporate firms, personal loans
accounted for 49 percent of "other" sources, Government
loans for 21 percent, nonbank mortgage loans 3 percent,
partners 7 loans 3 percent, and unspecified lenders 24 percent.
In general, these sources of funds, as a whole, are found to
account for a decreasing proportion of total requirements as
sales-size increases. They also were relatively larger among
corporate firms than among noncorporate concerns due to the
large volume of parent-company advances. Among the
smallest sales-size group, however, these sources of funds are
proportionately larger among noncorporate firms due to a
high concentration of personal loans from friends and
relatives.
The Disposition of Investment Funds
Manufacturing firms entering the business population in
the 1946-48 period invested somewhat over 60 percent of
their total capital in fixed assets, almost 15 percent in inventories, while the remaining one-fourth was kept for other
working capital needs.
The relative proportion invested in fixed assets is somewhat larger, and in inventories somewhat lower, than the
6
For firms with assets under $50,000, according to a Federal Reserve Bank loan survey,
the value of outstanding loans on November 20, 1946, secured by equipment were about
three times those secured by inventories. For all firms, however, the latter type of loan is
more important than the former type.
SURVEY OF CUEEENT BUSINESS
April 1950
15
Chart 4.—Corporate and Noncorporate Manufacturing Firms Starting Operations in the 1946-48 Period: Percentage
Distribution of Sources and Uses of Initial Investment, by Legal Status, Grouped According to Sales in 1948 l
NONCORPORATE
CORPORATE
SO'URCES OF FUNDS
SOURCES OF FUNDS
USES OF FUNDS
PERCENT
100
USES OF FUNDS
PERCENT
100
OTHER
SOURCES-?/
OTHER
USES
80
BANK LOANS(including
mortgages)
80
INVENTORIES
60
SUPPLIER
CREDIT
60
EQUIPMENT
40
OTHER
USES
INVENTORIES
40
EQUIPMENT
PERSONAL
SAVINGS
20
20
PLANT-?/
PLANT-?/
OK
O LJ
oo
°
-»>
SS
O -
i£ 2?
-tfJ-W
-</»•<
GROUPED ACCORDING TO SALES IN 1948
U. S. DEPARTMENT
OF COMMERCE,
OFFICE OF BUSINESS
ECONOMICS
i See footnote 1, table 2.
Includes bonds and a small amount of nonbank mortgage loans.
3
corresponding investments of either new trade firms or large
and small established manufacturing firms. This is due in
part to the fact that while a new manufacturer initially
obtains the necessary plant and equipment consistent with
the expected volume of operations in his early stage of
development, his purchase of inventories can frequently be
delayed until he receives his orders.
When examined in terms of size of firm, the sample indicated that the larger new manufacturing firms tended to
invest relatively more heavily in current assets than did the
smaller firms.
Plant and equipment outlays
It is estimated that $1.2 billion was expended for fixed
assets by new manufacturers in the 1946-48 period. Almost
$600 million was for new equipment, about $200 million for
the new plant and over $25 million for renovation of rented
plant. Used equipment and used plant outlays were somewhat less than $300 million and $100 million, respectively,
while land purchases amounted to almost $50 million.
The expenditures for new plant and equipment by new
manufacturers were about 4 percent of the total expenditures
of all manufacturers in this period. In trade—a field where
there is considerably less concentration of large firms—
new firms made about one-third of the fixed asset investment
of all trade firms.
Utilizing the findings in the new trade firm survey, and
making rough allowance for uncovered industries, it is
estimated that all new firms in the postwar period through
1948 accounted for about 10 percent of the new plant and
equipment expenditures by all nonfarm business—both old
and new. It should be borne in mind that few new firms
enter the railroad and public utility fields which in the
50-131
3 Includes renovation, land, and a small amount of depletable resources.
Source of data: U. S. Department of Commerce, Office of Business Economics.
1946-48 period accounted for close to 30 percent of the
nonfarm business investment in plant and equipment.
This estimate of the contribution of new firms measures
only the immediate and direct investment of these firms.
No allowance is made for either capital outlays for plant
and equipment by other groups for rental to new firms, or
for the replacement of used plant and equipment sold to
new firms. In addition, data collected in this survey (which
will be presented more fully in a subsequent article on the
operating experience of new manufacturers) indicate that
the capital goods investment of successful new firms grew
quite rapidly in their first 2 years of operation.
It should be borne in mind, however, that the postwar
business population experienced its greatest growth in 1946,
grew moderately in 1947 and early 1948 and has been
relatively stable since mid-1948. Thus the contribution of
new firms to business investment has been of dwindling
importance since 1946.
An outstanding difference between new trade firms and
new manufacturing firms was noted in the size and industry
relationships between fixed assets and total investment in
the two groups. In the case of trade firms, there was clear
evidence that within lines of trade the proportion of plant
expenditures to total investment varied directly, while the
proportion of equipment investment varied inversely, with
firm size. Within manufacturing industries, while such
tendencies existed, the relative importance of fixed investment more closely corresponded with type of industry than
it did with size. These differences in trade and manufacturing arise mainly from the more homogeneous fixed assets
requirements of the various lines of trade as compared to
the heterogeneous nature of the different fabricating
processes.
SUEVEY OF CURRENT BUSINESS
16
In manufacturing industries with high plant expenditures
relative to total investment, such as food processing, stone,
clay and glass, and transportation equipment, it was found
that even the smallest sales-size group had proportionately
greater plant investment, than did the largest new firms in
industries like apparel, textiles and machinery. Plant investment by apparel manufacturers was relatively negligible
even in the largest sales-size group. The relative importance
of equipment outlays, similarly, was more closely related to
industry than to size.
Working capital requirements
The initial investment in inventories by new manufacturers in 1946, 1947 and 1948 amounted to $300 million—
over 4 percent of the net change in inventories of all manufacturing concerns. The proportion of new inventory investment made by new trade firms was about one-third of that
made by all trade firms. Making an arbitrary allowance
for the contribution of new firms outside the trade and manufacturing fields, it is estimated that all new nonagricultural
firms in the period between 1945 and 1948 made about 15
percent of the total new investment in nonfarm inventories.
Within the manufacturing sample, inventories were found
to be larger relative to total investment among the larger
firms than among smaller concerns. This was also true
among new wholesale and retail trade firms.
Other working capital, as a proportion of total investment,
increased with sales-size among the smaller sales-size groups.
However, the proportion began to decline with size for the
groups with sales of over $250,000—in large part as a consequence of the rapidly increasing relative importance of
inventories.
Plant ownership and rental
Based on the reporting panel (firms with one or more
employees), the average capital requirements of new manufacturers occupying their own plant was about three times
that of the average new firm renting its plant. The survey
results were as follows:
Renters
Corporate:
Average investment..
Average plant investment
Noncorporate:
Average investment
Average plant investment
_ _
__ _
__ _ _-
_. __
Nonrenters
$43, 500
$146, 400
46, 700
14, 800
35, 300
9,600
As a result of the differential in size of average investment
and the additional credit facilities arising out of plant ownership, there are marked differences in the relative distribution
of the sources and uses of funds between renters and nonrenters. The latter group finance their investment to a considerably greater degree through bank credit, mortgage loans
and bonds than do the former group (see table 5).
Since a large proportion of the nonrenters' initial capital
goes toward plant purchase, their investment in equipment,
inventories and other current assets is lower relative to total
investment than the corresponding investment of renting
concerns. If plant outlays are removed entirely from the
distribution of invested funds, it is found that nonrenters
invest proportionately more in equipment and inventories
and less in working capital other than inventories. The
larger relative investment in inventories and lower investment in other working capital needs are primarily functions,
of the larger average size of the nonrenting group. The
explanation of the larger proportionate investment in equipment, which, as noted previously, generally varies inversely
with size of firm, is that a large number of plant renters
were able to also rent fixtures and machinery.
April 1950
Surviving and discontinued firms
The Office of Business Economics is planning a survey o1
the factors resulting in business failures. While the presenl
survey was not designed to study the distinguishing characteristics between surviving and discontinued firms, th(
sample returns make possible a few general observations.
The outstanding difference was in the average size of investment. The average investment of the unsuccessful
firms in the sample was about 55 percent of that of the
sample's surviving firms. Another significant characteristic
of discontinued firms was their relatively low initial investment in new plant, even when allowance is made for theii
smaller average size.
It is still a matter of speculation as to the extent that these
firms unsuccessfully sought, or would have been helped by,
outside financing. Another question arises as to the part
that plant ownership plays in delaying the abandonment of
enterprises which are not conspicuously successful.
Investment turn-over
The sales per dollar of investment among new manufacturing concerns, as among new trade firms and established
manufacturers, was found to be greater for smaller firms
than for larger firms. Comparison by occupancy status
and industry (table 6) confirms the finding in the trade
study that investment turn-over tends to decrease as plant
size increases.
Within manufacturing industries, the largest volume of
sales per dollar of investment occurred in industries such as
apparel and leather products—industries reporting the lowest
relative plant investment. On the other hand, food, construction materials and metals show the smallest investment
turn-over and proportionately high plant requirements.
Differences among industries, as might be expected, appear
to be closely related to the average ratio of net profits to
sales. There tends to be an inverse relationship between
profit margins on sales and investment turn-over since, in
the industries where margins are high, entrepreneurs are
willing to invest more heavily relative to sales. It is obvious,
of course, that profit margins are affected by, as well as
affect, investment turn-over. It should also be noted that
other characteristics of the different industries, including the
investment size of the average firm, influence their sales per
dollar of investment.
Table 1.—Manufacturers Starting Operations During 194 6—48:
Average Initial Investment by Industry, Grouped According to
Sales in 1948 1
[Dollars]
Sales sizes
Industry
Food and kindred products
Textile-mill products.-Apparel and related productsLumber and timber basic products
Furniture and finished lumber products
Stone, clay and glass products,.
Metals and metal fabricating 2
Machinery . __
_ __
Transportation equipment
Miscellaneous _
_
_
_ __ _ _ _
_ _
_ __
__
Under
$50,000
$50,000$249,999
14, 900
8,400
6,500
8,200
5,200
77, 500
63, 100
16, 400
49, 200
28, 600
238, 400
107. 100
42, 600
131, 900
72, 200
10, 300
9,600
11, 500
11,300
12, 800
49, 400
38, 600
23, 500
26, 800
29, 300
104, 200
101, 900
70, 700
234, 800
107, 500
$250,000
and over
1
The figures in this table should be used to indicate orders of magnitude, and not precise
measures of average investment, since some of the cells are based on small samples and firms
with no employees are omitted. Data are based on the initial investment and make no allowance for subsequent changes in asset position. The sales size classification of firms operating
less than 12 months in 1948 was based on the annual rate of their partial year sales in 1948.
Firms operating less than 6 months in 1948 were eliminated.
2 Metal fabricating industries exclude machinery and transportation equipment.
Source: U. S. Department of Commerce, Office of Business Economics.
SUEVEY OF CURRENT BUSINESS
Table 3.—Manufacturing Firms Starting Operations in the 1946-48
Period: Percentage Distribution of Sources and Uses of Initial
Investment, by Legal Status and Initial Investment Size l
Table 2.—Manufacturing Firms Starting Operations in the 1946-48
Period: Percentage Distribution of Sources and Uses of Initial
Investment, by Legal Status and 1948 Sates-Size Group 1
100
100
100
100
100
65
61
62
58
Supplier credit:
Merchandise
Equipment
57
7
5
3
5
1
2
4
4
5
6
2
3
2
14
3
10
8
3
3
4
3
4
6
4
6
16
7
1
6
1
8
1
10
6
3
6
6
4
3
1
-
13
16
15
12
16
13
9
10
___
25
40
11
23
25
32
12
30
20
32
23
25
21
35
25
19
20
51
9
19
13
58
6
23
22
40
12
27
15
31
31
23
Bank loans:
Non mortgages
Mortgages:
On business properties
On other properties
_
Other sources _
Uses, total:
Plant 4
Equipment
Investories
Other current assets. _ _
Sources, total
33
19
11
_.
3
Item
54
11
1
62
4
2
Under $20,000
i
1
Personal savings
Capital stock:
Officers and directors
Parent company
General public
$250,000 and over
100
$50,000-$99,999
100
Under $50,000
$100,000-$249,999
100
SI
$500,000 and over
Under $100,000
Sources, total
T
i
Noncorporate
Corporate
Noncorporate
Corporate
Item
17
ios
T3
d
ig
03
Q O5
OoT
100
o^
se-
-e-
£
io
I
"1
0^
<M
100
Under $10,000
April 1950
10
£•
100
100
Personal savings
Capital stock:
Officers and directors
Parent company
General public _ _
Supplier credit:
Merchandise
Equipment
Bank loans:
Nonmortgages
Mortgages:
On business properties
On other properties
_
Plant 3
Equipment
Inventories
Other current assets
o §?
°oT
o^
°i~
o"^
-e-
<&•
<M
'd
fl
**
>
0
1
ee-
100
100
100
100
68
61
63
55
3
4
6
6
74
5
2
70
6
1
58
9
5
34
18
8
1
4
3
4
4
3
4
5
2
7
7
9
2
2
4
4
6
4
7
11
1
2
5
1
11
1
2
2
3
1
10
3
6
2
(4)
Other 2
Uses, total _
i
OCT,
Oos
(4)
12
12
10
15
13
15
10
15
100
100
100
100
100
100
100
100
8
48
13
31
10
37
17
36
14
38
20
28
27
32
21
20
11
58
9
22
12
51
13
24
25
43
9
23
16
35
25
24
1 Excludes firms with no employees. Detail will not necessarily add to totals because of
rounding.
2
Includes small amount of bond sales and nonbank mortgages.
3
Includes renovation and land and a small amount of depletable resources.
* Less than 0.5 percent.
Source: U. S. Department of Commerce, Office of Business Economics.
1
Data are based on the initial investment and make no allowance for subsequent
changes in asset position. The sales-size classification of firms operating less than 12 months
in 1948 was based on the annual rate of their partial year sales in 1948. The sample excludes
firms with no employees. Detail will not necessarily add to totals because of rounding.
-'3 Less than 0.5 percent.
Includes bonds and a small amount of nonbank mortgage loans.
•* Includes renovation, land and a small amount of depletable resources.
Source: U. S. Department of Commerce, Office of Business Economics.
Table 4.—Manufacturing Firms Starting Operations in the 1946-48 Period: Percentage Distribution of Sources and Uses of Initial Investment Funds by Industry 1
All industries
Item
Sources
100
Personal savings
Capital stock. _ .
Bond sales
Supplier credit:
Merchandise.
Equipment _
_.
_ __
_„
_ _ __
Bank loans:
Nonmortgage _ _ _ _ _ _ _ _ _
Mortgage:
On business properties
On other properties, _
Other sources
Uses
Plant:
New
Used
Renovation
_
Equipment:
New
Used
_ _
__
4
Other fixed assets
Inventories
Other current assets
_ _
100
24
42
1
28
30
1
3
3
8
7
_
Food and Textile- Apparel
and
kindred
mill
related
products products products
879643—50
3
Furniture
and
finished
lumber
products
Leather
and
products
Stone,
clay
and
glass
products
Metals
and
metal
fabri- 2
cating
Machinery
Transportation
equipment
All other
100
100
100
100
100
100
100
100
100
100
12
56
20
56
3
41
15
19
61
1
21
55
27
32
4
20
57
14
59
24
52
(3)
(3)
(3)
(3)
2
3
1
6
2
11
3
2
5
3
2
6
4
4
10
5
2
5
7
2
2
14
3
4
5
2
11
3
11
3
1
3
4
1
2
1
(3)
(3)
(3)
18
44
(*)
4
2
4
2
2
11
3
1
6
2
2
1
10
1
5
2
1
(3)
11
9
12
10
10
10
10
11
8
10
12
15
100
100
100
100
100
100
100
100
100
100
100
100
10
4
2
19
5
3
4
4
3
3
2
4
11
7
7
4
2
15
2
1
12
2
2
2
13
1
14
3
1
10
2
2
29
13
26
7
38
13
23
17
19
9
52
5
24
18
29
11
2
12
26
1
11
25
36
35
4
11
11
2
16
25
14
14
1
17
38
10
19
2
15
26
33
19
4
12
16
2
33
18
1
15
30
(3)
11
40
i Excludes firms with no employees. Detail will not necessarily add to totals because of rounding.
Excludes machinery and transportation equipment.
34 Less than 0.5 percent.
Includes land and a small amount of depletable resources.
Source: U. S. Department of Commerce, Office of Business Economics.
2
Lumber
and
timber
basic
products
4
(3)
(3)
19
10
Q
26
25
(3)
SURVEY OF CURRENT BUSINESS
18
Table 5.—Manufacturing Firms Starting Operations in the 1946-48
Period: Percentage Distribution of Sources and Uses of Initial
Investment Funds by Occupancy and Legal Status l
April 1950
Table 6.—Manufacturing Firms Starting Operations in the 1946—48
Period: 1948 Sales Per Dollar of Initial Investment Funds, by
Industry, Initial Investment Size and Type of Occupancy 1
[Dollars]
Occupancy and legal status
All firms
Noncorporate
Corporate
Item
Renting
concerns
Nonrenting
concerns
100
Sources, total
100
Personal savings
Capital Stock:
Officers and directors
Parent company
General public
Renting
concerns
Nonrenting
concerns
100
100
60
60
52
15
7
39
13
5
Supplier credit:
Merchandise
Equipment
4
5
3
4
6
8
3
5
Bank loans:
Nonniortgages
Mortgages
3
2
4
17
7
5
9
11
Other sources ^
Uses total
Plant
Renovation
Other fixed assets 3
Equipment
Inventory
Other current assets
-
- ...- --
12.
16
15
12
100
100
100
100
0
4
5
39
22
31
32
2
2
29
18
16
0
2
1
47
26
23
27
1
4
35
9
24
1
Excludes firms with no employees. Detail will not necessarily add to totals because of
rounding.
2
Includes small amount of bond sales and nonbank mortgages.
3 Includes land and a small amount of depletable resources.
Source: U. S. Department of Commerce, Office of Business Economics.
TECHNICAL NOTES
The present study on new manufacturing firms, like the previous one covering trade, is
based on replies to a questionnaire by a sample of companies drawn from the records of the
Bureau of Old Age and Survivors Insurance, Federal Securityr Agency. The sample was
selected from the list of manufacturing companies registering w ith the BOASI which started
a new business during the period 1946-48. It thus excludes manufacturing firms without
employees, which generally have no occasion to report to BOASI. Estimates for this last
group were, however, included in the total investment and financing figures.
Questionnaires were mailed to all manufac turing firms listed as having 20 or more employees,
and to a 5 percent sample of those with fewer than 20 employees. Roughly half of the returns
in the first mailing were reported out of business, or for other reasons not at the address given.
Sample tests against BOASI records have shown that practically all firms not located by the
Post Office have ceased current reports to BOASI and may be presumed to be out of business.
From the companies for which no returns were received in the original mailing, a 20 percent
sample was drawn for follow-up by registered mail and by personal contact through the field
offices of the Department of Commerce. The group used for the field follow-up consisted
of the firms geographically accessible to the field offices. Returns were obtained from about
40 percent of the mail follow-ups, and from 75 percent of the companies contacted in the field.
On the basis of the mail and field returns, it was estimated that almost 50 percent of the
companies in the original universe were no longer in business, a figure which checks
closely with the independently derived business population estimates of the OBE. A
small proportion of firms were found to be out of scope, because they either were not in manufacturing or started in business before 1946. Of those in scope and still in business, about 30
percent submitted reports. In addition, enough returns were elicited from firms no longer in
business to provide a basis for making estimates for this group.
Sources of error
fti the study of new trade firms, three sources of error in addition to the usual sampling
variability were cited. The first of these was due to the inability to obtain replies from all
companies in the sample, since those willing and able to respond might differ significantly
with regard to their investment characteristics from those who did not reply. The second
source, related to the first, was the inadequate coverage of firms no longer in business at the
time of the survey. Finally, the sample represented only firms registered with the BOASI
and included few if any companies with no employees.
The present study was planned so as to reduce or eliminate the first two types of error.
While it was not feasible to obtain a sample of zero-employee firms, the smaller importance
of this group in manufacturing as compared with trade makes this third source of variation of
less account. Consequently, the estimates for manufacturing given in this article have a
smaller margin of error than those for trade enterprises.
Renting firms
Industry
Total
All industries
Leather and leather products
Apparel and related products
Furniture and finished lumber
products
Textile-mill products
Machinery
Miscellaneous
_ _
Transportation equipment
Lumber and timber basic products
Stone, clay and glass products
Metals and metal fabricating
Food and kindred products
Small 2 Large
2
Total
Small 2 Large 2
5.3
13.5
5.0
7.2
14.9
6.8
12.4
9.9
13.2
18.9
12.3
9.0
12.2
10.6
13.2
18.9
12.1
9.7
6.3
6.1
5.5
4.7
7.9
16.8
9.4
15.2
6.2
5.9
5.2
4.5
6.3
6.4
5.3
5.9
11.5
16.7
9.6
16.8
6.1
6.2
5.0
5.5
4.6
4.5
4.2
4.0
3.1
9.6
8.6
4.4
17.7
8.8
4.5
4.4
4.2
3.6
2.9
14.8
4.6
7.4
5.0
4.3
12.2
9.6
15.0
4.4
7.4
4.2
4.2
18.' 8
7.2
1
Excludes firms with no employees.
2 Small firms are those with initial investment of under $10,000; large firms are those with
initial investment of $10,000 and over.
Source: U. S. Department of Commerce, Office of Business Economics.
Apart from the estimates for all manufacturing in charts 1 and 2, no adjustment was made
for the zero-employee firms. It should also be noted that the tables which show the proportions of initial investment coming from various sources or applied to various uses are based
on unweighted sample compilations when grouped by size and legal status. This procedure
is valid because it was found that when the returns were grouped by legal status and size of
initial investment, no significant differences existed between firms in business and those no
longer in existence, or between those replying to the initial mailing and those contacted in
the follow-up.
Without this grouping, it was found that corporations were disproportionately represented
among the initial response and among firms still in business. Also, both corporations and
unincorporated businesses showed higher average initial investment in the initial response as
compared with the follow-up, and for firms still in operation as compared with those which
had left the business population.
The estimates of average investment by industry group and sales size presented in table 1
are averages of the sample returns without adjustment for bias due to nonresponse or for
disproportionate representation of firms still in business. Thus the figures in this table should
be used as an indication of orders of magnitude applicable to firms other than the zeroemployee group, rather than as precise measures of average investment.
Coefficients of variation for a number of the estimates were computed to indicate the degree
of variability due to sampling in these figures. The relative sampling error in two out of three
random samples does not exceed in absolute value the percentage given by this coefficient;
19 times in 20 it is less than twice this percentage.
The coefficient of variation for the linear unbiased estimate of total investment was 7 percent. The coefficient for the percentage of total investment of new corporations represented
by equity capital was 5 percent, while the corresponding figure for noncorporate businesses
and personal saving was 7 percent. The equity and personal saving proportions were selected
for the computations because the sample indicated that the underlying distributions were
U-shaped; the coefficients of variation for other over-all proportions estimated should be
substantially smaller in most cases.
The coefficients of variation applicable to the various industry and size groups are larger
than those for the total figures; since the sampling error increases as the number in the sample
is reduced. An indication of the effect of sample size on variability is given by the coefficient
of variation w^hich was computed for the percentage of total investment in tho form of equity
for food corporations of the middle sales size group. In this sub-group, the sample contained
12 firms, and the coefficient for the estimated proportion was nearly 12 percent, compared
with 5 percent for all corporations. Only in the industry-sales size break-down were there any
cells with comparably small samples.
The estimates were carried out in two ways. A "linear unbiased" estimate for the sampled
universe, together with an adjustment for the group of zero-employee firms, yielded a figure
of $1.8 billion for total investment of new manufacturing firms during the period 1946 to 1948.
A biased estimate with smaller sampling variability, employing the independent OBE
business population estimates, gave a comparable total"of $2.2 billion. In view of the various
upward adjustments to the BOASI universe required to bring it to the OBE base, the round
number of $2 billion has been used in th text.
In obtaining the unbiased estimate, the returns in each of the two employee-size strata were
grouped by legal status, and in each group were separated into three classes: firms replying
initially, firms replying in the follow-up, and firms out of business. The total investment
reported in each class was multiplied by its appropriate weight to obtain the total for the
universe sampled. Average investment for the firms with no employees was estimated by
extrapolation on the basis of the sample returns from firms with one and two employees.
Since it was not feasible to obtain complete response even on the field follow-up, the possibility of bias due to nonresponse has not been completely eliminated. This limitation is not
believed to be serious.
By Z. V. Warner
Foreign Transactions of the
U. S. Government in 1949
INITED STATES Government foreign-aid programs
in 1949 furnished assistance to the extent of nearly $6.0
billion in grants and credits. Grants were by far the greater
part of the total amounting to $5.3 billion—about one-fourth
more than in 1948—while credits, at $0.7 billion, were less
than half as much as in the previous year. A comparison of
grants and credits from 1946 through 1949 is shown in chart 1.
Total aid since the approximate end of the war, or from
July 1, 1945, amounted to almost $26 billion. During the
first two full years after the war, 1946 and 1947, credits
exceeded grants, mainly as a result of withdrawals on the
British loan authorized in 1946. For subsequent years aid
was extended mostly through grants, which in 1949 grants
were furnished largely under the European Recovery Program.
The ERP strongly emphasized grants rather than credits
(which would have required repayment and increased the
future dollar requirements of the borrowing country) and
aid extended under that program, which was about one-third
of total aid in 1948, accounted for more than two-thirds of
1949 assistance.
In the last half of 1949 aid rendered by the U. S. Government fell off by more than one-fifth from the first half, due
mostly to the decline of grants under the European Recovery
Program. Such grants had reached a maximum in the second
quarter. The decline resulted from reduced ERP appropriations, which reflect a diminishing need for aid until the
scheduled completion of the program in 1952. Table 1
shows grants and credits by program from July 1, 1945,
through 1949, while table 2 presents them by country for
1948 and 1949.
Transactions other than those in connection with grants
and credits further provided a net disbursement of dollars
to certain foreign areas. These transactions include purchases and sales of goods and services, payments of administrative expenses abroad, and contributions to international
organizations. They do not include disbursements made
for grants and credits or receipts realized from repayment of
credits, including interest, and reverse grants (grants to the
U. S. Government). Purchases abroad of goods and services are included, however, even though such goods and
services may become grants. These other transactions in
1949 resulted in disbursements of $1.7 billion and receipts
of $0.5 billion. Table 4 shows such "other" cash disbursements and receipts by country for 1948 and 1949.
The U. S. Government, in turn, received payments from
other countries. Collections in 1949 to reduce the principal
amount of loans outstanding and to pay interest amounted
to $239 million and $97 million, respectively. For the previous year these collections amounted to $456 million and
$100 million. Grants to the U. S. Government amounted
NOTE.—MR. WARNER IS A MEMBER OF THE STAFF OF THE CLEARING OFFICE FOR FOREIGN TRANSACTIONS, OFFICE OF BUSINESS
ECONOMICS.
to the equivalent of $230 million in 1949 and $23 million in
1948, all but a small amount in 1948 the result of counterpart
funds accruing to this country under programs of the Economic Cooperation Administration.
Chart 1.—Foreign Grants and Credits of the U. S. Government in the Postwar Period
BILLIONS OF DOLLARS
8
GRANTS p $£ CREDITS
—
6 -
i
4
2
'•'••:••:
':•::'•
-
-
-
'/A
^
'//
////
///
//////
W
w
y/
J
0
1946
947
\
,
! ii
W
-
^
y/
w/
%
y/
1
1948
YEARLY TOTALS
1949
y/
y/'
p
p
p
m
m
1949
QUARTERLY TOTALS,
AT ANNUAL RATES
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
5O-I34
Source of data: U. S. Department of Commerce, Office of Business Economics.
Economic Cooperation Administration
To EGA was assigned the responsibility for helping the
free nations of Western Europe attain a degree of economic
recovery which would obviate the need for extraordinary
outside aid after 1952. From the beginning of the European
Recovery Program in April 1948 through 1949 the EGA provided by grants and credits approximately $6.0 billion in
goods and services to participating countries, about one-half
consisting of food and agricultural commodities and the
balance mostly of industrial products such as raw materials,
semifinished products, machinery, and vehicles. Almost
two-thirds of these supplies were procured in the United
States. Aid provided other than by financing purchases of
supplies and equipment included ocean freight charges,
technical assistance—comprising primarily services of experts
required for the introduction of advanced production
methods—and payment of certain parcel post and other
transportation costs on private relief shipments.
Procurement authorizations under the program amounted
to $8.0 billion for the same period. More than three-quarters
of this amount applied to five countries, the United Kingdom,
France, Italy, Germany, and the Netherlands.
19
SURVEY OF CURRENT BUSINESS
20
ERP grants in 1949
Total assistance under the European Recovery Program
in 1949 amounted to $4,160 million as compared with $1,873
million in the previous year. Grants alone amounted to
$3.7 billion in 1949.
About 80 percent of the 1949 grants were in the form of
cash reimbursements, the remainder representing mostly
Government shipments. The United Kingdom was the
largest recipient of grants from the United States under the
program, receiving more than one-quarter of the total,
followed by France, receiving more than one-fifth, and Germany about one-eighth. Grants to some ERP countries
included certain amounts which were conditional upon furnishing aid to other participants under the intra-European
payments plan. Therefore, in order to arrive at the amount
of net aid received under the program the exchange of aid
received or provided under the plan must be taken into consideration.
The intra-European payments plan under ERP
After the war a pattern of bilateral economic relations was
prevalent in Europe which tended to hinder trade. The
intra-European payments plan was introduced under the
European Recovery Program, in order to encourage multilateral trading and to expand commerce so that Europe
Table 1.—Summary of Foreign Grants and Credits Utilized and
Capital Investment in the International Bank and Monetary
Fund, by Program
[Millions of dollars]
Program
April 1950
might provide for itself, through trade, more of the essential
goods and services it required. This plan provided that
grants would be extended by the United States Government
upon condition that the recipient member of the plan furnish an equivalent amount of aid or drawing rights in its
currency to one or more other members.
In 1949 drawing rights utilized by members of the plan
amounted to $809 million, but the countries furnishing these
drawing rights received only $722 million in conditional aid
from the United States. Those countries which extended
the excess of drawing rights will eventually receive conditional grants to cover the difference.
In the case of Belgium-Luxembourg net aid provided
under the plan amounted to $264 million—or $12 million
more than all aid received from the U. S. Government—
which placed this area in the unique position of granting
net aid under the program during 1949. Net ERP aid
received or provided for 1948 and 1949, is shown in table 3.
A little more than one-tenth of 1949 aid under ERP was
extended through credits, as compared with about onequarter for the previous year. Credit utilizations of $476
million in 1948 and $425 million in 1949 were mainly the
result of the $1.0 billion made available exclusively for
loans and guaranties in the first appropriation authorization
for EGA. In the appropriation act by Congress for the
Table 2.—Summary of Foreign Grants and Credits Utilized, by
Major Country, 1948 and 1949
[Millions of dollars]
1948
Total
postwar
period
JulyDecember
1945
1946
1947
1948
29, 347
2,697
5,852
9,300
5,523
(i)
2 750
Total
Total
Total
_
International IVIonetary Fund
International Bank for Reconstruction
and Development
2 750
635
317
317
European Recovery Program countries
(including participating dependent
areas) _ __
2,697
5,535
6,233
5,523
5,976
15, 718
2,015
2,289
2,049
4,078
5,286
Lend-lease
Civilian supplies by the military
European recovery
1,213
4,170
5 132
1,082
339
UNRRA
Post-UNRRA
Interim aid
2 577
300
557
479
1 458
Chinese stabilization
Chinese military aid
Chinese aid
120
116
160
105
15
Greek-Turkish aid
Philippine rehabilitation
Korean aid
594
452
29
32
Refugee assistance
International Children's Emergency
Fund
Inter-American aid
American Red Cross
196
2
Grants
Credits
Special British loan
Export-Import Bank
European recovery
Surplus property
Lend-lease
Other
_
-
60
31
10
6
5
131
637
8
5
965
640
230
12
74
87
1,300
1 397
68
545
928
3,735
(2)
2
72
96
45
64
349
130
172
203
29
19
89
86
15
7
27
6
18
4
10, 244
681
3,245
4,183
1,444
690
3,750
32,532
600
1,036
2,850
58
300
429
476
185
425
212
18
9
29
5
47
824
902
1,363
1,347
351
623
G)
878
593
139
245
109
156
1 Less than $500,000.
2 Receipt of less than $500,000 from UNRRA on account of an excess of funds advanced
to that organization for liquidation purposes.
3 Includes agent bank loans.
NOTE.—Data included in tables are based upon report submitted by Government agencies
and may have been revised since publication of similar information in previous SURVEY
articles. In tables detail will not necessarily add to totals because of rounding.
Source: U. S. Department of Commerce, Office of Business Economics.
Grants Credits Total
Grants Credits
5,523
4,078
1,444
5,976
5,286
690
4,240
3,129
1,111
197
89
40
803
5,976
_ 25,962
Grants and Credits Utilized_._
1949
Country
1949
Austria
Belgium — Luxembourg
Denmark
France
Germany...
Greene
Iceland_
Ireland
_
__
Italy
Netherlands-Indonesia
Norway
Sweden
.
Trieste
Turkey
United Kingdom
Unallocated ERP countries
-
Other Europe
Finland _ _
Poland
U S S R.2
Yugoslavia-
. ___
American Republics
Australia
Canada
Cnina
Egypt
India
Iran
Japan
Korea
Liberia
__ . _
_
496
183
56
18
620
208
253
108
860
202
202
94
807
6
51
14
53
925
337
84
14
2
921
245
5
67
921
245
5
3
C1)
0)
64
309
89
17
1
103
56
52
2
456
353
75
40
389
254
43
38
67
99
31
2
10
85
1,017
8
10
73
485
8
13
533
9
94
1,107
33
9
66
1,027
33
29
81
52
52
14
14
26
19
6
1
26
19
6
1
12
1
1
12
1
1
62
1
140
21
3
82
4
77
1
111
5
109
1
2
5
388
96
5
8
20
10
2
16
474
86
4
426
86
130
8
3
5
8
408
106
2
.__
4,337
411
144
70
3
68
1
140
224
3
_ ._ _ _ _
Philippines
Ryukyu Islands
All other countries
International organizations
Unallocated
1,010
351
2
4,834
14
33
23
184
133
8
1
119
2
6
203
116
2
1
3
203
14
8
124
2
203
14
104
2
16
48
4
C1)
8
20
12 Less than $500,000.
Credit utilizations shown for U. S. S. R. represents billings (under the pipe-line agreement
dated Oct. 15, 1945) for materials, services, or other lend-lease aid furnished prior to Mar. 31,
1947.
Source: U. S. Department of Commerce, Office of Business Economics.
SURVEY OF CURRENT BUSINESS
April 1050
21
Table 3.—European Recovery Program: Net Aid Received or Provided, by Country, 1948 and 1949
[Millions of dollars]
1948
1949
Aid under infra-European
payments plan
Aid received from the United States
Net aid re- Net aid re-
Country
ceived (+) ceived (+)
or pro-
vided (-)
Grant basis
or pro-
vided (-)
Total
Total
France
- _ _ - - - -United Kingdom
Netherlands-Indonesia
_
.
Germany
Italy
Austria
-
-_
Greece
Norway
Denmark
-
__
_
_
Ireland
Turkey
Trieste
Portugal
Iceland
Sweden
_
_ . _ __
_
__
___
___
_
___
_ __
-
_ _
_ _
_ _
_
_ _ _ _ _ _
_
_
-__
_
___
_ _ __
__. _
Conditional J
Direct
Net received (+)
or provided (— )
Received
Provided
+ 1,873
+4, 160
4,160
3,735
3,013
722
425
809
809
+504
+692
+142
+1, 072
+929
+440
852
1,107
352
807
1,027
254
773
800
239
33
226
15
45
81
98
+221
-178
+87
254
48
102
33
226
15
+113
+155
+100
+392
+378
+294
491
418
202
491
389
202
346
349
201
145
40
1
30
-99
-40
+92
246
93
145
40
1
+64
+42
+41
+259
+134
+123
129
66
108
129
43
94
129
38
90
5
4
23
14
+130
+67
+15
130
72
19
5
4
67
30
9
3
10
9
10
64
20
+6
+67
+33
+9
+3
27
24
+2
-8
+5
+2
+1
5
38
5
38
+5
-4
-37
5
+13
+8
+33
253
33
202
33
_ _ _ _ _ _ _
_ __ _
___
Belgium- Luxembourg
Unallocated
- -
_ _ _ _
_ _ _ _ _
_
-
Credit
basis
Total
(3)
3
9
1
M
38
202
(3)
51
-264
33
7
4
44
268
1
2
Conditional grants not sufficient to cover aid provided by Turkey, Sweden, and Belgium-Luxembourg.
Includes $3.5 million extended by Iceland to Germany outside intra-European payments plan.
3 Less than $500,000.
Source: U. S. Department of Commerce, Office of Business Economics.
next year EGA received authority to loan an additional
$150 million against which no commitments had been made
as of December 31, 1949.
ERP loans amounted to only $47 million in the last half
of 1949 compared to $379 million in the first half, as final
utilization of loans originally negotiated in late 1948 was
nearing completion. The largest recipients of ERP loans
in 1949 were the Netherlands ($98 million) the United Kingdom ($81 million) and Ireland ($64 million.) The ExportImport Bank acts as agent for EGA in executing and administering loans.
Other credits
The Export-Import Bank extended the major share of
1949 credits in 1949 other than those by EGA. Disbursements on the Bank's loans in 1949 amounted to $185 million, less than half the $429 million of the previous year,
with the major share going to Italy, Chile, Mexico, and Japan.
Loans by EIB are generally made for projects which increase
the productive capacity of the borrowing countries.
Credit commitments by EIB which were unutilized at the
end of 1949 amounted to $430 million; lending authority
which had not been committed amounted to $889 million.
Collections on credits by this agency in 1949 consisted of
$144 million to reduce principal and $61 million for interest.
In 1948 these collections were respectively $261 million and
$57 million.
Credits resulting from the transfer of surplus property
abroad were only $29 million in 1949, as against $212 million the previous year. In 1948 final credits of $60 million
were included on account of the transfer of merchant ships.
Credits on other types of surplus were largely concluded by
the middle of 1949 when this property had been largely
disposed of and agencies responsible for disposal were in the
process of liquidation.
Credits utilized in 1949 included those extended by the
Army to Japan under the natural fibers revolving fund,
amounting to $27 million. Credits were extended from this
fund to purchase raw cotton; repayment is made from the
proceeds of the manufactured textiles. The United Nations
received $20 million in 1949 as part of a $65-million loan to
build their headquarters building in New York City.
Civilian supplies for the occupied areas
The second largest grant program last year was civilian
supplies furnished by the military, more than nine-tenths of
which are for the people of the occupied areas of Germany
and Japan. Such aid amounted to $1,300 million in 1948
and $928 million in 1949. The decline was in large part
the result of programs for certain countries having been
transferred to EGA.
Food items—especially grains—together with agricultural
supplies and petroleum products made up most of the
civilian supplies furnished in 1949. Considerable quantities
of industrial raw materials were provided to Japan. Even
though civilian supplies furnished by the Army to Germany
in 1949, at $431 million, were only a little over half the
previous year, the increase in ERP grants resulted in a total
of approximately $900 million for both years. Supplies furnished Japan increased from $388 million in 1948 to $426
million in 1949.
Assistance to China and Korea
The Government of China largely lost control of the mainland of that country through military reverses in 1949.
Consequently, U. S. Government aid was sharply curtailed,
especially in the latter half of the year. Total aid in 1949
was $111 million, about half that for 1948, and all but a
negligible amount in the form of grants. Approximately
two-fifths of grants in 1949 were military supplies; the
balance, grants by EGA, resulted mainly in shipments of
cotton, rice, and petroleum products.
Early last year EGA was assigned the responsibility of
providing assistance to Korea to take the place of civilian
supply programs of the Army. Accordingly, the extent of
22
SUEVEY OF CUKEENT BUSINESS
supplies furnished by the Army decreased, while aid furnished by EGA increased. Total aid for 1949 amounted to
$86 million, grants by the EGA amounting to $29 million
and by the Army to $57 million. In the previous year, aid
to Korea included $10 million of credits due to the transfer
of surplus property and $96 million due to civilian supplies
granted by the Army.
Philippine aid
As a measure of good will to the Philippine people, the
United States early undertook to provide some degree of
compensation for property damages resulting from the war.
The U. S. Government in 1949 paid $162 million for such
damages to private property. Payment of claims for damage
to public property amounted to $11 million for the year.
Administrative services relative to these claims amounted to
$3 million. In this connection, administrative services and
the costs of training Filipinos in certain specialized fields
amounted to $27 million. Total Philippine aid was $203
million in 1949, and for 1948 about $130 million.
Greek-Turkish aid
In 1947 Congress passed legislation to assist Greece and
Turkey. Grants furnished under this program last year
amounted to $116 million for Greece and $56 million for
Turkey—about half of the 1948 total for these countries.
The aid supplied under the Greek-Turkish program was
largely of a military nature, especially for Turkey. Greece
received technical and material assistance to fight forces
within her borders threatening her independence, and
Turkey received similar help to modernize her defense
establishment.
Additional assistance went to these countries through the
EGA, which assumed the responsibility of providing them
with economic aid after July 1948. Aid extended by EGA
included grants to Greece of $58 million in 1948 and $129
million in 1949, and to Turkey $10 million last year.
Assistance through international organizations
Since the aftermath of the war found great numbers of
people in Europe displaced from their homes, the U. S.
Government last year contributed $71 million to the International Eefugee Organization, which seeks to care for these
people and also to resettle them. (Contributions for this
purpose had amounted to $89 million in 1948.) In addition
to contributions to the IEO the U. S. Government in 1949
paid $15 million to the United Nations to assist persons
displaced from their homes as a result of the recent war in
Palestine.
The International Children's Emergency Fund, established by the United Nations, operates primarily for the
benefit of children in European countries, especially as
regards health requirements. Contributions by the U. S.
Government to ICEF in 1949 amounted to $18 million.
Transactions not included under grants or credits
In addition to transactions abroad in connection with
grants and credits, other operations of the U. S. Government
abroad resulted in payment and receipt of funds. Disbursement for these other purposes amounted to $1.7 billion in
1949. Supplies and materials purchased accounted for onethird of this total. Military pay and allowances accounted
for more than one-fourth. Other sizable disbursements were
for administrative expenses abroad and operation of facilities.
U. S. Government disbursements abroad were about a half
billion dollars less in 1949 than in the previous year. The
greatest part of this decline represented reduced procurement of supplies and materials abroad. This was largely
accounted for by the Government discontinuing purchases of
April 1950
Table 4.—Other Foreign Transactions of the U. S. Government:
Cash Disbursements and Receipts by Major Country, 1948 and
1949 i
[Millions of dollars]
19 18
Country
Disbursements
Total
European Recovery Program countries
(including participating dependent
areas)
Austria
Belgium-Luxembourg _
Denmark
France
Germany
Greece
Iceland
Italy
-
_ _ _
- -.
-
Netherlands-Indonesia. _ _
Switzerland
Trieste
_ _ _ _ _
United Kingdom
Other
- - - - Other Europe
American Republics
Canada
China
India
_
Janan
_
Korea
Philippines
_
Ryukyu Islands
Saudi \rabia
All other countries
International organizations.
Unallocated
- -
_ _ _
19 49
Receipts
Disbursements
Receipts
2,233
948
1,718
544
863
387
736
221
7
7
73
56
15
130
12
18
1
21
43
53
12
36
258
22
19
21
178
13
2
11
240
16
12
49
134
4
1
2
70
10
12
162
15
32
14
3
36
46
60
23
14
160
18
1
15
3
13
27
(2)
W
6
30
19
15
1
287
34
23
4
168
14
17
46
170
39
10
3
29
9
1
43
367
85
336
32
144
37
25
18
317
22
191
44
152
7
16
25
19
75
32
46
2
39
30
3
21
53
40
56
1
29
7
3
1 Purchases and sales of gold by the U. S. Government are not included.
2 Less than $500,000.
Source: U. S. Department of Commerce, Office of Business Economics.
tin to supply domestic industry, depending upon private
traders to import these requirements. Also, purchases of
sugar from Cuba for the occupied areas were reduced as these
areas were able to acquire supplies elsewhere or develop their
own production.
Japan, Germany, the Philippines, and the United Kingdom
and its dependencies were the recipients of more than half
of disbursements in 1949. In the first three areas there are
large military establishments requiring disbursements for pay
and allowances. However, payments to the United Kingdom largely represented procurement from its dependencies.
Receipts from such U. S. Government foreign transactions—other than those resulting from grant and credit
transactions, of course—amounted to $544 million last year.
Two-thirds were the result of sales. Military agency sales
to Army PX's and Navy Ships Stores amounted to $135
million; sales of commodities, mostly whole grains, amounted
to $106 million. Another large source of receipts was
remittances of $106 million to the United States by Government personnel abroad.
These receipts declined about $400 million in 1949 from
the previous year. About half of the decline was due to
reduced sales including surplus property, for example, had
been largely disposed of in 1948.
More than half the receipts in 1949 were from Japan and
Germany. Because of the large numbers of American personnel, chiefly members of the armed forces in those areas,
receipts from personal remittances and sales to Army PX's
were high.
NOTE.—Data included in this article constitute the basis for Government transactions
in the balance-of-payments statements of the International Economics Division, Office of
Business Economics. Differences may be due to the use in the balance-of-payments statement of preliminary data which include estimates. Other discrepancies may result from
conceptual differences. (For example, in the balance of payments, loans guaranteed by the
Export-Import Bank are included in private rather than in Government capital movements.)
Further differences may arise from the attempts to enter transactions in the balance of payments at the time they are assumed to have taken place, rather than the time transactions
appear in the accounts of the reporting Government agencies.
t lew or
STATISTICAL SERIES
Farm Marketings and Income: Revised Data for Page S—2 1
1947
Jan.
Cash receipts from farming
(million of dollars):
Total, including Govern2,363
ment payments
Farm marketings and
2,331
CCC loans, total
1,014
Crops
Livestock and prod1,317
ucts, total _.
313
Dairy products
818
Meat animals _
178
Poultry and eggs
Indexes of cash receipts from
farm marketings and CCC
loans (1935-39=100):
351
All commodities
355
Crops
348
Livestock and products. _
Indexes of volume of farm
marketings (1935-39=100).
154
All commodities
171
Crops
Livestock and products. . 143
1948
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Year
Jan.
Feb.
Mar.
Apr.
May
June
July
Year
1,909
2,014
1,870
1,888
2,088
2,625
2,636
3,163
3,766
3,167
2,839 30, 328
2,572
1,695
1,850
2,045
2,094
2 382
2 599
30 803
1,869
741
1,951
685
1,813
517
1,854
534
2, 065
731
2,620
1,282
2,626
1,366
3, 153
1,683
3,755
2,155
3,155
1,568
2,822 30, 014
1,228 13, 504
2,546
1,095
1,666
544
1,810
577
1,995
646
2, 056
631
2, 356
790
2, 589
1 147
30, 546
13 485
1, 128
284
663
173
1,266
331
709
218
1,296
342
702
239
1, 320
380
670
250
1, 334
390
680
235
1,338
379
680
246
1,260
365
634
236
1,470
340
856
253
1,600
320
977
282
1,587
297
972
303
1,594 16, 510
306 4, 047
979 9, 340
299 2,912
1, 451
329
914
200
1,122
319
600
195
1, 233
361
635
228
1,349
391
695
248
1, 425
450
694
253
1, 566
1,442
247
253
17, 061
4, 433
9, 359
3,071
281
259
298
294
240
334
273
181
342
279
187
349
311
256
352
394
449
353
3.95
478
333
475
589
388
565
755
422
475
549
419
425
430
421
377
394
363
383
383
383
251
191
296
272
202
325
300
226
356
309
221
376
355
390
413
381
123
123
123
119
95
134
111
63
143
117
65
151
128
94
150
158
176
147
159
196
135
176
222
146
200
261
160
163
168
160
139
122
151
146
146
145
129
125
132
97
75
113
104
75
125
111
77
137
116
77
146
130
139
476
807
452
712
277
402
147
134
100
152
383
394
375
141
147
136
i Compiled by the U. S. Department of Agriculture, Bureau of Agricultural Economics. The series have been revised to incorporate revisions in the estimates of farm marketings.
a For monthly data beginning August 1948, see p. S-2 of the October 1949 SURVEY and later issues.
Estimated Sales of Chain Stores and Mail-Order Houses: Revised Data for Page S-9 *
Combined index (1935-39=100)
Total sales (millions of dollars)
Unadjusted
Month
January
February. _.
March
April
May
June
July
August
September.
October
November.
December..
Monthly average..
Seasonally adjusted
1943
1944
1945
1946
1947
1948
1943
1944
1945
1,042
1,048
1,165
1,216
1,182
1,197
1,143
1,107
1,209
1,320
1,265
1,528
1,081
1,049
1,247
1, 253
1,296
1,264
1,214
1,240
1,339
1,393
1,403
1,707
1,168
1,109
1,447
1,182
1,278
1,329
1,224
1,267
1,318
1,516
1,556
1,914
1,414
1,373
1,657
1,689
1,676
1,661
1,614
1,893
1,731
1,929
2,054
2,420
1,704
1,673
2,038
2,046
2,165
2,007
1,951
2,050
2,146
2,330
2,358
2,870
2,014
1,870
2,312
2,264
2,350
2,313
2,280
137.7
151.1
152.7
163.0
156.0
161.8
146.0
148.8
166.1
170.4
173.6
205.4
145.7
146.4
162.2
167.5
172.4
169.5
159.8
162.4
176.6
187.2
192.7
223.1
157.3
160.2
182.2
164.4
170.4
172.5
167.8
165.3
179.9
198.8
212.9
250.9
190.1
198.4
214.6
228.1
222.2
222.8
215.2
236.8
246.8
252.7
271.2
329.2
227.0
241.2
264.6
276.5
276.6
278.5
259.9
262.5
297.4
303.0
321.5
379.8
1,202
1,291
1,359
1,759
2,112
! 2, 324
160.7
172.6
181.7
235.2
282. 3
1946
1947
1948
259.0
268.6
303.0
303.6
310.2
312.5
291.2
2
1943
1944
1945
1946
1947 1948
154.9
166.2
159.2
159.4
157.9
164.2
158.5
160.2
164.0
163.1
162.0
161.5
163.8
160.5
167.5
165.5
174.4
171.9
173.7
175. 4
174.5
179.2
179.2
175.9
176.5
175. 7
181.3
168.0
171.9
174.5
182. 5
177.7
177.4
189.3
198.0
198.8
212.9
217.7
223.5
224.0
224.5
226.1
234.8
255. 6
242.8
240.6
252.1
262.2
255.8
264. 7
270.9
276. 7
278.7
280.7
282.5
282.4
292.4
289.3
298.3
302.3
295.7
299.0
304.9
311.7
311.7
313.3
315.7
310.8
Indexes of sales, seasonally adjusted (1935-39=100)
Apparel group
Month
Total
January. ..
February.
March
April
May
June
July
Monthly average »_.
Men's
wear
Women's
wear
General-merchandise group
Shoes
Automotive parts
and accessories
Building
materials
Eating and Furniture
and drink- and house
ing places furnishings
292.9
311.6
312. 5
315.8
321.2
330.9
326.5
271.4
300.0
282.5
282.2
287.5
301.2
289.6
375.4
395.5
400.6
411.0
419.0
434.2
427.7
224.6
235.5
242.4
239.8
243.3
245.1
246.1
220.3
225.7
231.0
254.2
251.5
253.5
267.5
351.3
353.3
344.6
366.9
382.6
384.2
383.5
220.2
223.0
228.6
227.5
226.8
229.3
229.5
262.1
258.7
252.4
256.0
269.8
264.3
325.2
294.2
425.9
242.2
244.2
373.9
225.7
255.3
Total
285.4
286.2
296.7
307.3
297.7
312.1
316.1
Department, dry
goods and
general
merchandise
Mailorder
Variety
340.5
337.1
354.8
375.0
357.1
377.3
380.7
271.9
270.1
272.8
285.1
280.0
297.0
309.8
210.0
219.1
223.2
218.8
218.3
222.8
223.1
365.0
290.1
226.6
i Compiled by the 17. Sf. Department of Commerce, Office of Business Economics. For monthly data beginning August 1948, see p. S-9 of the October 1949 Survey and later issues.
* Average for 12 months, January-December.
23
SUEVEY OF CURRENT BUSINESS
24
April 1950
Department-Store Sales—Indexes Adjusted for Seasonal Variation: Revised Series for Page S—10 l
[1935-39 = 100]
Chicago
Atlanta
Cleveland
Kansas City
Minneapolis
Philadelphia
Month
January
February
March
April
May
June .
July
August
September
October
November
December
_
_-
_
_
_ _ __ _..
1944
1945
1946
1947
1948
1945
1946
1947
1948
1946
1947
1948
1945
1946
1947
1948
1946
1947
221
218
226
230
240
237
264
265
271
245
251
271
304
328
338
333
329
348
359
354
357
361
359
349
374
376
379
399
386
379
188
202
207
168
170
184
223
241
243
237
231
250
261
269
266
261
273
270
290
288
286
289
286
290
226
242
260
251
245
272
263
263
270
280
286
284
291
291
284
305
307
306
223
223
239
203
221
218
256
264
275
274
283
289
296
305
301
296
300
306
323
314
314
334
330
328
212
234
234
232
248
246
260
268
269
265
265
274
281
279
278
293
288
288
157
150
159
161
168
160
240
246
255
255
264
268
281
277
276
286
290
299
352
361
360
354
359
354
345
344
354
354
396
369
402
393
394
404
374
378
192
188
193
201
207
206
248
281
258
255
259
264
274
270
282
271
294
291
297
299
291
298
278
295
260
286
249
250
266
262
281
273
290
273
296
292
313
308
320
319
293
300
223
219
232
238
242
244
292
303
296
296
292
299
306
302
320
311
339
321
330
330
327
334
323
320
253
260
263
261
253
258
268
271
282
274
283
283
294
290
287
304
286
288
164
164
171
169
176
1948 1944 1945
183
1946
1947
172
183
185
161
169
186
208
221
225
220
224
251
251
246
248
257
259
258
272
284
276
279
284
284
193
183
177
191
195
198
242
260
242
240
241
245
257
257
264
262
279
274
289
291
294
302
268
284
1948
i Compiled by the Federal Reserve Banks of the districts shown. The indexes have been revised to incorporate changes in the seasonal factors. For data for 1949, see p. S-10.
The Business Situation
(Continued from p. 5)
However, the adoption of strict marketing quotas this year
makes possible a general idea of intended land use in 1950.
Excluding cotton, planted acreage for 1950 is indicated to be
about one and one-half million greater than a year earlier.
The cotton allotment originally announced for 1950 of 21
million acres is 6.4 million less than that grown in 1949 but the
allotment has since been increased by more than 1 million
acres by special legislation.
Since marketing quotas for cotton are coupled with rather
severe penalties for overplanting and selling more than the
allocated quota, overplanting is rare. In prewar years, the
acreage of cotton grown varied from 80 to 90 percent of allotments.
In view of the large reduction in cotton acreage allotments
from last year's plantings, the rise in intended acreage of
crops other than cotton of less than 1.5 million acres is partly
attributable to the fact that a group of other crops in the
South were also subject to control. Wheat in the Southwest
and tobacco, peanuts, and rice in the various States of the
South were curtailed—all with the aid of production controls. Excluding Oklahoma and Texas, the principal expansions were a rise of one million acres in corn and soybeans.
More important changes are indicated in Oklahoma and
Texas where expansion totaling nearly 4 million acres is
indicated for grain sorghums, oats, corn, and barley offset
by a contraction in wheat of nearly 3 million acres, but
changes in these States are not a net addition to those discussed above since they were included in the totals for the
wheat belt States.
Appraisal of results
On the whole the control programs were successful in
reducing acreage—although not necessarily production—of
specific crops, and the total cut-back of these crops is indicated to be as much as 20 to 25 million acres, or about 10
percent. Possibly the corn program was least successful,
and even here the commercial corn areas reduced acreage by
about 10 percent. In addition to the basic crops which were
all under control programs, cut-backs were made in flaxseed
and potatoes—both of which have been heavily supported.
In fact, the group of crops whose acreage has been reduced
accounted for more than 85 percent of total price support
expenditure for 1948 crops, the last crop-year for which data
are available. With minor exceptions, these products have
mandatory price support at 90 percent of parity for 1950.
Table 3.—Prospective Plantings for 1950
[Thousands of acres]
Planted Acreages
Change 1949-50
Crops
With production controls
Corn, all
Wheat, all Rice
Potatoes 2
Tobacco ...
Beans, dry
edible
Peanuts 3
Average
1939-48
_
.
-
1950
PerAbsolute centage
167, 326
89, 825
66, 026
1,451
2,718
1,650
183, 059
87, 910
84, 931
1,839
1,924
1,626
1,900
164, 852
82, 765
i 72, 750
1,645
1,862
1,582
1,678
—18, 207
2,570
— 12 181
-194
-62
-44
-222
-359
174, 202
42, 891
14, 713
3, 869
16, 635
690
496
12, 059
2,241
74, 470
851
163, 082
44, 525
11, 208
5,199
11, 754
548
367
11, 409
1,177
72, 835
769
3,291
175, 784
47, 964
13, 879
+12. 702
+3, 439
+2. 671
14, 568
603
281
13, 500
1,192
75, 091
980
i 3, 699
+2, 814
+55
-86
+2, 091
+ 15
+2, 256
+211
2,022
3,634
_
Without production controls
Oats_ _. ._ - _ Barley
Flaxseed
_ _ _
Sorghums for all purposes _
Sweet potatoes Peas, dry field
Soybeans 33
Cowpcas
Hay2
Sugar beets
_ __ _
Rye
_
1949
5,287
2,929
4,027
-5,145
-1,172
+408
—10
-6
-14
-11
-3
-3
-12
-12
+8
+8
+24
-23
+24
+10
-23
+18
+1
+3
+27
+12
1 Includes acreage planted in the fall of 1949 for harvest in 1950.
* Acreage harvested.
2 Grown alone for all purposes.
Source: U. S. Department of Agriculture, Bureau of Agricultural Economics.
Much of the expansion in acreage occurred in crops whose
prices have also been supported, but the level of support in
1950 may be considerably lower than for the basic crops.
The feed grains—oats, grain sorghum, and barley—are expected so expand 9 million acres. All of these have received
extensive price support and all are substitutes for corn within
rather wide limits. Expansions are also indicated in soybeans and rye, both of which have been receiving price
support, and also in hay for which no price support is provided. Most of the crops in this group where plantings are
expected to increase do not have mandatory price support
programs; the actual support levels and the commodities to
be supported for 1950 had not been announced at the time
of the survey of farmers' planting intentions.
BUSINESS
STATISTICS
X HE DATA here are a continuation of the statistics published in the 1949 Statistical Supplement to the SURVEY OF CURRENT BUSINESS.
That volume contains monthly data for the years 1945 to 1948, and monthly averages for earlier years black to 1935 insofar as available; it also
provides a description of each series and references to sources of monthly figures prior to 1945. Monthly averages for 1949 are shown in the
March 1950 issue of the SURVEY. Series added or revised since publication of the 1949 Supplement are indicated by an asterisk (*) and a
dagger (f), respectively, the accompanying footnote indicating where historical data and a descriptive note may be found. The terms "unadjusted"
and "adjusted" used to designate index numbers and dollar values refer to adjustment of monthly figures for seasonal variation.
Data subsequent to February for selected series will be found in the Weekly Supplement to the SURVEY.
1950
1949
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
February
March
April
May
June
July
August
September
October
November
December
January
February
GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT
Seasonally adjusted quarterly totals at annual rates:
National income total
bil of dol
Compensation
of employees, total
do
\\rages and salaries total
do
Private
do
Military
_
do
Government civilian
do
Supplements to washes and salaries
do
Proprietors' and rental income, totalc? do
Business and profession ale?
do
Farm
do
Rental income of persons
do
Corporate profits and inventory valuation adjustment total
bil of dol
Corporate profits before tax total
do
Corporate profits tax liability
do
Corporate profits after tax
do
Inventory valuation adjustment
do
Net interest
- do
Personal consumption expenditures total do
T)urable goods
do
Services
do
Gro^s private domestic investment
do
New construction
do
Producers' durable equipment
do
Change in business inventories
do
Net foreign investment
do
Government purchases of goods and services,
total
bil of dol
Federal (less Government sales)
do
State and local
do
Personal income total
Less' Personal tax and nontax payments
Equals' Disposable personal income
Personal saving §
do
do
do
do
(i)
140.9
135 3
113.5
4.5
17.3
5 6
43.7
24.0
12.9
6.8
224 7
141.9
136 5
116. 1
4.1
16.3
5 4
47.1
24.1
16.4
6.7
220 8
140.8
135 4
114.7
4.1
16.6
5 5
45. 1
24.1
14.3
6.7
220 7
141. 1
135 6
114.4
4.2
16.9
5 5
43.1
24.0
12.6
6.6
31.6
29.4
11.5
17.9
2.2
4.1
30.7
26.4
10.6
15.8
4.3
4.2
32.3
28.9
11.4
17.5
3.3
4.2
262 0
178.7
23.0
100 4
55.3
40.0
16.8
20 7
2.5
10
257 9
179.3
23.6
99 8
55.9
33.2
16.4
20 0
-3.2
1.2
254 6
179.7
25.7
97.6
56.5
32. 1
17.4
19.6
-5.0
-.3
255 2
179.8
25.2
97.7
56.9
33.7
18.7
18.7
-3.7
-2.0
42 3
25.2
17 1
44.2
26.4
17.8
43.2
25.0
18.2
43.7
25.0
18.8
212.0
18.6
193.4
14.8
210.0
18.6
191.4
12.1
208.2
209.3
18.6
190.7
10.8
(i)
0)1
C)
0)
.7
4.3
18.6
189.5
9.8
PERSONAL INCOME. BY SOURCE
Seasonally adjusted, at annual rates:
Total personal income
bil. of dol
Wage and salary receipts, total
do
Employer disbursements, total ._ _ _ _ do
Commodity-producing industries
do
Distributive industries
do
Service industries
do
Government
__ _ _
.do
Less employee contributions for social insurance
bil. of dol
Other labor income- _
_ ___ do_
Proprietors' and rental income
do
Personal interest income and dividends. _do
Total transfer payments
do
Total nonagricultural income
_ do
207.2
133.0
135. 2
56.4
40.5
17.1
21.2
209.1
133.4
135. 6
56.9
40.5
17.1
21.1
208.3
2.2
2.1
45.1
17.0
12.3
2.2
2.1
42.8
16.9
12.4
2.2
2.1
43.9
17.1
12.6
2.2
2.1
42.7
17.2
12.6
190.5
190.2
191.4
192.2
211.3
134.0
136. 3
210.5
133.9
136.0
57.4
40.7
17.3
20.6
210.2
133. 7
135. 9
57.0
40.9
17.4
20.6
209.4
59.4
39.5
17.0
20.4
210.2
132.3
134.6
57.4
39.4
17.3
20.5
2.3
2.1
46.6
17.0
11.6
2.1
2.1
46.2
17.0
12.6
2.2
2.1
45.0
17.1
12.4
2.3
2.1
45.2
17.0
12.2
191.0
190.5
191.4
191.8
132.9
135. 2
56. 7
40.3
17.3
20.9
133.7
135.9
57.1
40.5
17.1
21.2
207.0
209.4
132.5
134.7
56.0
39.5
17.4
21.8
211.9
134. 4
136. 6
57.4
39.9
17.4
21.9
' 218. 1
r
133. 7
»• 136. 5
"•57.1
MO. 1
«-17.6
'21.7
219.1
133.5
136.2
56.5
40.1
17.8
21.8
2.2
2.1
42.9
17.3
12.0
2.2
2.2
44.9
17.4
12.4
2.2
2.2
43.5
18.9
12.8
2.8
2.2
'46.5
17.4
r
18.3
2.7
2.2
43.9
17.4
22.1
190.3
191.3
194.5
198. 7
202.8
132.7
134.9
55.5
40.2
17.5
21.7
r
NEW PLANT AND EQUIPMENT
EXPENDITURES
All industries quarterly total
Manufacturing
Mining
Railroad
Other transportation
Electric and gas utilities
Commercial and miscellaneous
mil. of dol
do
do
do
do
do
do
4,460
1,850
190
360
130
680
1,260
4,660
1,880
190
380
140
780
1,290
' 4, 370
1,690
180
310
1
140
790
1,260
r
r
22 4 no
4, 630
1,830
T
180
r
300
T
120
T 8QQ
' 1, 320
1, 690
2
170
2250
2
80
2 740
a 1, 170
r
Revised.
12 See footnote "i" for this page in March 1950 SURVEY.
Estimates for January-March 1950, based on anticipated capital expenditures of business,
cflncludes inventory valuation adjustment.
§Personal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product above.
879643—50
4
S-l
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
April 1950
1950
1949
February
March
April
May
June
July
August
September
October
November
December
January
GENERAL BUSINESS INDICATORS—Continued
FARM INCOME AND MARKETINGS
Cash receipts from farming, including Government
payments, total J
mil. of dol__
Farm marketings and COO loans, total
do
Crops
do
Livestock and products, total
do
Dairy products
_
do
Meat animals
do
Poultry and eggs
do
Indexes of cash receipts from marketings and CCC
loans, unadjusted: %
All commodities
1935-39=100..
Crops
do
Livestock and products
do
Indexes of volume of farm marketings, unadjusted :t_
All commodities
1935-39=100..
Crops
do
Livestock and products
do
INDUSTRIAL PRODUCTION
Federal Reserve Index
Unadjusted, combined index
1935-39=100..
T
1,973
1,946
677
1,269
327
692
242
1,850
1,823
592
1,231
326
623
265
1,944
1,915
639
1,276
361
627
259
2,053
2,036
757
1,279
359
647
239
2,177
2,168
972
1,196
347
592
233
2,417
2,411
1,162
1,249
328
661
245
2,608
2,601
1,327
1,274
304
705
250
3,139
3,127
1,773
1,354
298
787
255
3,050
3,038
1,722
1, 316
266
735
303
2,326
2,317
1,175
1,142
267
603
262
' 253
215
' 282
293
237
335
275
209
325
288
224
337
306
265
338
326
340
316
363
407
330
392
465
336
471
621
357
457
603
347
349
411
301
'337
'385
301
' 106
120
94
139
114
81
140
123
89
149
132
110
148
141
145
138
162
190
140
168
209
138
202
270
150
193
246
153
155
170
144
154
168
143
179
1,695
' 1,680
r
613
r
1,067
T
282
r
580
r
197
r
r
118
' 2, 254
' 2, 238
' 1, 099
1,139
290
676
165
185
181
177
174
170
163
174
179
169
'174
178
do
193
190
183
179
176
169
181
189
179
'180
'186
Durable manufactures
Iron and steel
Lumber and products
Furniture
Lumber
Machinery
Nonferrous metals and products
Fabricating
Smelting and refining
Stone, clay, and glass products
Cement..
Clay products
Glass containers
Transportation equipment
Automobiles (incl. parts)
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
223
232
115
154
96
262
185
180
200
187
168
166
179
241
206
221
233
124
150
110
252
183
172
210
185
171
163
178
240
204
212
219
126
144
116
240
167
151
209
186
202
160
179
235
203
202
204
129
139
124
232
145
123
200
190
206
156
202
220
184
195
177
129
139
124
225
133
108
192
188
209
151
204
240
211
186
156
121
136
113
217
127
105
179
187
209
140
214
249
225
194
178
134
148
126
216
141
128
174
190
207
149
212
246
225
200
179
141
158
132
224
157
150
175
191
219
151
199
252
231
176
102
138
165
125
226
164
162
167
' 193
211
154
210
238
216
' 181
' 145
144
163
134
217
163
161
170
188
206
153
195
'206
'175
' 201
201
145
170
132
227
166
162
175
181
187
154
177
' 211
' 181
'206
' 203
' 130
' 167
' 111
228
' 179
174
'191
' 181
168
'148
201
'243
'22(3
Nondurable manufactures
Alcoholic beverages
Chemicals products
Industrial chemicals
Leather and products
Leather tanning
Shoes
Manufactured food products
Dairy products
Meat packing
Processed fruits and vegetables
do
do
do
do
do
do
do
do
do
do
do.
168
159
251
435
116
115
117
146
104
149
164
173
248
427
113
99
123
145
124
141
85
159
163
239
417
106
96
113
148
160
134
94
160
182
233
406
101
95
105
156
203
138
102
161
190
230
404
104
95
110
165
223
139
133
156
188
225
392
104
172
222
140
181
170
179
226
388
110
90
123
189
197
134
287
179
179
238
405
114
98
125
190
159
145
267
181
180
245
414
108
99
115
177
121
155
' 175
151
' 250
'423
101
99
103
'156
96
186
'103
'175
143
'249
'421
108
96
116
'149
95
' 183
' 193
178
171
247
'417
'98
95
101
162
97
172
'123
do..
do.
do_
do..
dodo.
do_
do_
do.
do_
do-
158
154
221
185
152
188
157
125
305
143
153
151
148
213
178
156
182
142
120
275
122
163
146
142
209
182
157
177
129
111
240
112
153
144
139
207
175
158
178
123
103
214
118
170
143
138
202
159
148
178
126
105
217
120
179
128
125
198
139
133
175
120
87
238
109
152
155
148
203
146
143
178
140
111
259
134
184
169
160
208
145
159
202
155
127
294
139
185
176
168
198
49
169
192
169
134
318
161
171
177
168
' 205
102
167
' 187
' 175
138
340
r
158
172
'167
' 160
r 219
158
162
'192
'173
134
350
' 151
138
'178
171
'211
do_.
do-.
do..
do_.
do_.
do-
143
155
74
142
168
76
131
137
52
93
163
93
146
148
88
144
156
134
148
149
105
144
155
142
137
135
78
104
153
150
128
126
93
80
147
140
134
134
82
108
149
135
123
122
50
60
154
128
112
120
118
31
156
'63
141
152
117
133
163
128
136
63
103
157
81
' 125
' 133
69
96
' 154
'80
do.
189
184
169
161
170
173
180
'179
do..
196
193
184
179
178
179
188
do
do
do
do
do
do
do
do
__.do
225
123
107
185
200
202
222
176
184
223
129
119
183
210
195
208
171
178
212
126
118
167
209
189
213
164
179
201
126
120
145
200
185
196
157
189
Manufactures
Paper and products
Paper and pulp
Petroleum and coal products
Coke
Printing and publishing
Rubher products
Textiles and products
Cotton consumption
Rayon deliveries
Wool textiles.
Tobacco products.
Minerals
Fuels
Anthracite
Bituminous coal
Crude petroleum
Metals
Adjusted, combined index cf
Manufactures
Durable manufactures
Lumber and products
Lumber
Nonferrous metals
Smelting and refining
Stone, clay, and glass products
Cement
Clay products
.
Glass containers..
194
123
114
133
193
186
195
152
206
185
115
104
127
180
185
190
140
223
193
126
115
141
174
183
183
145
204
199
132
119
157
175
183
189
146
195
r
175
133
116
164
167
184
182
146
204
'181
147
139
163
169
183
191
147
193
' 203
' 158
153
165
174
187
206
150
190
189
154
' 157
' 194
' 178
144
153
162
'209
' 145
'134
'179
'191
' 192
207
' 159
206
173
173
177
168
162
161
165
'161
154
Nondurable manufactures..
do
177
' 176
179
174
167
174
165
172
187
164
177
169
Alcoholic beverages
do
187
173
169
245
236
240
250
237
234
229
233
228
Chemical products
do
243
246
'249
108
113
115
113
101
106
105
96
110
Leather and products
..do
97
101
108
100
98
95
99
96
84
97
107
91
Leather tanning
do
92
99
96
162
165
163
162
167
162
165
161
Manufactured food products.
__.do
166
' 160
••160
'161
153
150
151
146
151
151
145
154
152
Dairy products._
__.do
147
148
'148
153
145
137
141
156
158
155
150
153
Meat packing
do
154
157
' 154
154
155
156
137
136
149
173
139
Processed fruits and vegetables
do
'134
151
' 132
'142
151
144
129
158
146
169
176
143
Paper and products.._
do
155
177
167
'179
139
154
141
168
138
126
147
160
148
Paper and pulp
do
168
160
171
T
Revised.
v Preliminary.
JData have been revised beginning January 1947 to incorporate revisions in reports on production and sales of farm products; revised figures for January 1947-July 1948 appear on p. 23 of
r
this issue. Revisions for January 1949 are as follows (units as above): Total cash receipts, including Government payments, 2,295; farm marketings and CCC loans, 2,279; crops, 1,016; live
estock
and products, 1,263; dairy products, 301; meat animals, 740; poultry and eggs, 2l5;indexes of cash receipts—all commodities, 343; crops, 356; livestock and products, 333; indexes of volume—all commodities, 138; crops, 147; livestock and products, 132. cfSeasonal factors for a number of industries were fixed at 100 during 1939-42; data for these industries are shown only in the unadjusted
SURVEY OF CUERENT BUSINESS
April 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-3
1950
1949
February
March
April
May
June
July
August
September
October
November
December
January
February
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION—Continued
Adjustedd1— Continued
Manufactures — Continued
Nondurable manufactures— Continued
Petroleum and coal pr oducts__. 193 5-39= 100 ._
Printing and publishing
do
Tobacco products
do
221
153
160
213
153
172
209
152
162
207
155
170
202
149
172
198
144
146
203
151
178
208
159
175
198
165
165
••205
160
169
••219
159
149
'211
'163
162
*>198
169
162
149
113
136
129
148
145
145
126
133
124
123
105
129
102
119
98
112
' 59
141
••76
132
'106
'130
'116
P117
P117
36.6
18.2
7.8
10.4
7.7
1.8
5.9
10.7
3.2
7.5
37.1
18.5
7.8
10.6
7.9
1.9
6.0
10.7
3.3
7.4
35.9
17.6
7.4
10.2
7.4
1.7
5.7
10.8
3.3
7.5
36.0
17.7
7.5
10.3
7.5
1.8
5.7
10.8
3.3
7.4
36.4
18.0
7.7
10.2
7.7
1.8
5.9
10.7
3.3
7.3
34.8
17.1
7.2
9.9
7.2
1.6
5.5
10.5
3.3
7.2
37.1
18.9
8.0
11.0
7.5
1.8
5.7
10.7
3.5
7.2
37.2
18.9
7.9
11.0
7.5
1.9
5.6
10.9
3.5
7.4
34.6
16.8
6.5
10.3
7.1
1.7
5.4
10.7
3.6
7.1
35.5
17.3
7.0
10.3
7.6
1.8
5.8
10.6
3.3
7.3
'34.7
'16. 9
7.0
9.9
'7.3
1.7
'5.6
10.5
3.1
7.4
35.7
17.6
7.5
'10.2
7.2
1.6
'5.6
'10.9
'3.6
7.3
36.6
18.0
7.6
10.4
7.6
1.7
5.9
11.1
3.7
7.4
58.4
34.4
16.6
17.8
9.5
3.4
6.1
14.5
5.7
8.8
58.2
34.2
16.5
17.7
9.3
3.4
5.9
14.7
5.8
8.9
57.8
34.0
16.5
17.6
9.3
3.4
5.9
14.5
5.7
8.8
56.9
33.6
16.0
17.6
9.2
3.3
5.9
14.1
5.4
8.8
56.4
33.3
15.7
17.5
9.0
3.2
5.8
14.2
5.4
8.8
55.3
32.4
15.2
17.1
9.1
3.1
6.0
13.9
5.3
8.6
54.6
31.6
14.7
16.9
9.1
3.0
6.0
13.9
5.3
8.6
54.6
31.1
14.3
16.8
9.2
3.0
6.2
14.4
5.6
8.8
54.4
30.7
13.9
16.9
9.1
2.9
6.2
14.5
5.7
8.8
54.0
30.5
13. 6
' 16.9
9.1
2.9
6.2
H.3
5.5
8.8
'53.6
30.9
'13.9
'17.0
9.0
2.9
6.1
13.7
5.1
8.6
'54.1
'31.1
'13.9
' 17.3
'9.0
3.0
6.0
'14.0
'5.3
'8.7
54.0
31.1
13.9
17.3
9.0
3.0
6.0
13.9
5.2
8.7
34.6
13.9
8.3
12.4
34.4
13.6
8.2
12.5
33.9
13.3
8.2
12.4
33.4
12.8
8.3
12.4
32.9
12.4
8.1
12.4
32.3
12.2
8.0
12.2
31.7
12.0
7.7
11.9
31.0
11.8
7.5
11.7
30.7
11.8
7.2
11.7
30.6
12.0
'6.9
11.7
31.1
12.3
6.9
'11.9
'31.3
'12.2
'7.2
'11.9
31.2
12.1
7.3
11.8
Sales, total
_
.mil. of dol.._
Durable-goods industries, total
do _
Iron, steel, and products
do
Non ferrous metals and products
do
Electrical machinery and equipment
_do
Machinerv, except electrical
do
Motor vehicles and equipment _ _ __ _ do _
Transportation equip., except autos
do
Lumber and timber basic products
_ do
Furniture and finished lumber products_.do
Stone, clav, and glass products
do _ _
Other durable-goods industries
do
18, 175
7,757
2,081
602
716
1,270
1,217
483
349
302
373
364
18, 451
7,805
2,054
567
742
1,325
1,222
453
384
337
371
351
17, 643
7,445
1,883
488
720
1, 261
1,289
426
370
316
332
361
17, 741
7,488
1,768
452
741
1,229
1,389
484
381
328
367
350
17, 990
7,745
1,811
512
730
1,195
1,553
454
417
339
369
366
17,114
7,207
1,703
418
669
1,063
1,558
487
362
288
349
310
18, 945
7, 982
1,850
546
749
1,130
1,739
492
410
336
395
335
18, 865
7,877
1,894
579
802
1,130
1,579
365
436
346
388
358
16, 805
6,542
1,088
500
756
1,053
1,371
359
409
324
354
327
17, 313
7,041
1,457
512
767
1,081
1,258
410
454
345
393
363
' 16, 857
' 6, 960
' 1, 766
'524
'737
' 1, 006
' 1, 108
'440
'426
'305
'340
'307
' 17, 650
' 7, 471
' 1, 860
'549
'784
' 1, 072
' 1, 491
'398
'350
'288
'366
'314
17, 956
7,572
1,950
595
788
1,110
1, 316
391
398
312
384
328
Nondurable-goods industries, total
do Food and kindred products
do __
Beverages
do
Tobacco manufactures
do
Textile-mill products
do
Apparel and related products _ __ ___ .do
Leather and products
_ __
do
Paper and allied products
do
Printing and publishing
_ __
do
Chemicals and allied products
do
Petroleum and coal products
_
do
Rubber products
do
Other nondurable-goods industries
do
10, 418
3,040
482
274
1,014
978
288
497
619
1,129
1,545
251
302
10, 646
2,923
601
292
1,028
1,043
294
486
641
1,152
1, 584
260
342
10, 198
2,942
607
266
943
895
291
461
596
1,086
1,540
257
314
10, 253
3,027
671
284
936
807
279
451
573
1,144
1,523
248
310
10, 244
3,006
701
279
984
685
303
461
592
1,143
1,525
266
300
9,907
2,774
674
271
968
770
282
497
555
1,106
1,511
271
227
10, 964
2, 969
740
298
1, 111
995
316
583
573
1,239
1,598
295
245
10, 988
2,989
589
285
1,164
964
294
644
596
1,274
1,618
277
294
10, 263
2,890
528
256
1,089
791
274
623
509
1,174
1,575
262
291
10, 272
2,834
522
280
1, 133
688
254
618
512
1,182
1,654
262
333
' 9, 897 ' 10, 178
' 2, 699
' 2, 878
'552
' 501
'281
' 1, 044 ' 1, 054
'700
'670
' 244
'249
' 583
'600
'612
' 613
' 1, 085 ' 1, 175
' 1, 580 ' 1, 536
266
'276
275
'343
10, 384
2,872
506
272
1,073
689
277
611
668
1,218
1,585
Inventories, book value, end of month, total
do
Durable-goods industries, total
do
Iron, steel, and products
do
Non ferrous metals and products
_ do _
Electrical machinery and equipment
do
Machinery, except electrical
do _ _
Motor vehicles and equipment _
do _ _
Transportation equip., except autos
do
Lumber and timber basic products
do
Furniture and finished lumber products. -do
Stone, clay, and glass products
do
Other durable-goods industries
do
34, 409
16, 629
3, 633
1,029
2,088
3,688
2, 217
976
744
835
605
813
34, 223
16, 528
3, 632
1,096
2,063
3, 691
2,194
951
698
817
572
815
34, 018
16, 406
3,654
1,123
2,024
3, 628
2,201
926
737
795
570
808
33, 565
15, 994
3, 629
1, 120
1,941
3,533
2,008
909
725
787
557
785
33, 250
15, 727
3,564
1,136
1,888
3,484
1,977
915
652
786
563
762
32, 367
15, 225
3, 459
1,115
1,806
3,386
1,904
903
617
757
548
731
31, 638
14, 741
3,337
1,064
1,737
3,329
1,824
860
586
754
527
724
31, 076
14, 282
3,202
1,035
1,648
3,239
1, 769
869
558
744
506
712
30, 744
13, 876
3,062
1,023
1,603
3,152
1,678
839
598
717
492
712
30, 547
13, 646
3, 048
1,028
1,568
3,082
1,626
809
602
723
474
687
' 30, 899 '31,136
' 13, 869 ' 13, 880
' 3, 129
' 3, 123
' 1, 022
'982
' 1, 600 ' 1, 594
' 3, 090
' 3, 064
' 1,
767 ' 1,803
r
764
'740
r
' 591
642
'723
'745
484
'488
'698
'700
31, 140
13, 869
3,061
985
1,605
3,090
1,823
691
645
781
494
694
Minerals
Metals
__
_
do
do
__
BUSINESS SALES AND INVENTORIES *
Business sales (adjusted) total §
bil
Manufacturing, total
Durable-goods industries _ _ __ _
Nondurable-goods industries
Wholesale trade, total
_ _
Durable-goods establishments
Nondurable-goods establishments
Retail trade, total _
Durable-goods stores
Nondurable-goods stores
of dol
do
do.__
do
do _
do _ _
do _
do
do
do
Business inventories, book value, end of month
(adjusted), total §
bil. of dol
Manufacturing, total
do
Durable-goods industries
do
Nondurable-goods industries
do _ _ _
Wholesale, total
do
Durable-goods establishments
do ___
Nondurable-goods establishments
do
Retail trade, total
_ __
__ _ do
Durable-goods stores
do
Nondurable-goods stores
do _
Manufacturing inventories
sta,ge of fabrication, total
Purchased materials
Goods in process
Finished goods .
_
(unadjusted), by
bil of dol
__
do _
do
do
MANUFACTURERS' SALES AND INVENTORIES—VALUE (ADJUSTED)*
362
17, 695
16, 898
17, 552
17, 572
17, 524
16, 794
16, 867
17, 780
17, 142
16, 900 ' 17, 030 ' 17, 256 17, 271
Nondurable-goods industries, total
do_ __
2,884
2,975
2,806
2,955
' 3, 066
3,010
2,993
2,842
2,983
3,309
' 3, 166
3,028
Food and kindred products
do
3,026
1,082
1 118
1 114
1 062
1 124
1,099
' 1 088 ' 1 106 1 137
1,108
1,082
Beverages
do
1,102
1,095
1,577
1, 568
1,614
1,668
1,715
1,706
1,595
1,728
' 1,699
1,611
1,697
1,661
1,633
Tobacco manufactures.
do
2, 482
2,404
' 2, 283
2,509
2,395
2,219
2, 218
2,254
2,198
2,313
Textile-mill products
do
' 2, 306
2,316
2,361
1,332
1,494
1,332
1,436
1,363
1,404
1,421
1,359
' 1, 377
1,412
'1,467
1,485
Apparel and related products
do
1,357
606
598
595
598
614
'618
617
611
' 636
Leather and products
do
616
611
624
590
906
919
911
894
739
'759
'782
793
756
777
Paper and allied products _ _
do.- .
872
832
737
r
T
645
628
611
616
568
559
585
Printing and publishing
do 561
600
589
612
609
580
2,411
2,222
2,355
' 2, 194
' 2, 164
Chemicals and allied products
do
2,346
2,316
2,247
2,228
2,223
2,151
2,278
2,264
2,495
2,516
2,539
2,513
' 2, 412 ' 2, 358
Petroleum and coal products
do
2,527
2,507
2,472
2,497
2,544
2,546
2,240
584
661
653
648
562
Rubber products
_ __ _
do .
650
586
537
'558
625
587
644
412
373
414
360
Other nondurable-goods industries
do
420
420
400
302
'383
371
415
390
427
r
Revised.
v Preliminary.
cfSee note marked "c?" on p. S-2.
*New series. Except as otherwise stated, seasonally adjusted dollar sales and inventories have been substituted beginning with the October 1949 SURVEY for the unadjusted dollar values
and indexes formerly shown; for earlier figures and del ails regarding the new series, see pp. 12-24 of the October issue. Sales and inventories of service and limited-function wholesalers only
are published currently on p. S-10.
§ The term "business" here includes only manufacturing and trade. Business inventories as shown on p. S-l cover data for all types of producers,
both farm and nonfarm.
SUEVEY OF CURRENT BUSINESS
S-4
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
April 1950
1949
Febru-
ary
March
April
May
June
1950
July
August
September
October
November
December
January
February
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' NEW ORDERS, NET
Value (unadjusted), total
mil. of dol
Durable-goods industries, total
do _
Iron, steel, and products. do .
Nonferrous metals and their products
do
Electrical machinery and equipment _ -do. _
Machinery, except electrical
do
Transportation equipment, except autos_ -do
Other durable-goods industries
do
Nondurable-goods industries _ _- - do
16, 534
6,734
1,832
514
612
1,016
384
2,376
9,800
17, 962
7,185
1,816
570
754
1,151
296
2,598
10, 778
15, 968
6,127
1,425
15, 734
5,993
1,328
437
619
985
358
584
986
160
2, 501
9,841
495
2,241
9,742
16, 300
6,544
1,504
15, 496
6,195
1,284
18, 697
7,407
1,776
418
702
365
561
858
615
687
938
1,017
217
2,686
9,756
263
2, 865
9,301
244
3, 146
11,290
19, 441
7,634
1,513
18, 359
7,432
1,837
583
810
996
566
841
970
377
3,355
11, 807
r 18, 138
246
2,972
10, 926
7,402
1,771
525
724
953
711
2 718
' 10, 736
»• r16, 775 ' r 18, 646
7. 019
8. 377
r
2,r 067
r 1,915
r
508
586
788
••841
T
T
1. 184
1,001
' 243 T ' 513
r 2. 564
3, 186
' 9, 756 r 10, 269
18, 241
7, 852
2, 145
624
736
1, 236
411
2,700
10. 389
BUSINESS POPULATION
OPERATING BUSINESSES AND BUSINESS
TURN-OVER
3,911.9
322.8
296.1
845 7
1, 679. 5
202.1
565.7
f 3, 895. 5
p 321. 8
f 286. 4
v 843 6
J» 1, 676. 2
P 202. 3
P 565. 0
95.0
16.1
9.1
19.8
34.5
4.4
11.1
99.0
16.9
9.0
20.0
37.9
4.2
11.0
*84.5
*>12. 9
v 7. 1
•p 16. 6
p 34. 5
*3. 8
P9.6
3,938 1
323.2
307 9
848 8
1 688 3
202 3
567. 5
Operating businesses total end of quarter thous
Contract construction
do
Manufacturing
do
Service industries
do
Retail trade
do
Wholesale trade
do
All other
- -- do
New businesses quarterly total
Contract construction
Manufacturing
Service industries
Retail trade
Wholesale trade
All other
do
do
do
do
do
do
do
Discontinued businesses quarterly total
Contract construction
- Manufacturing
Service industries
Retail trade
Wholesale trade
All other
do
do. _
do
do
do
do
do
121 6
16.6
21.0
23 2
43.1
4.7
12.9
125 2
17.3
20.8
23.1
46.7
4.4
12.8
TP 101.0
Business transfers quarterly total
do
102.2
83.6
*83.5
P14.0
p 16.8
v 18.6
?37. 7
*3.6
plO.3
BUSINESS INCORPORATIONS
New incorporations (48 States)* _ _ _
. number. _
6,362
7,637
7,273
7,445
7,260
6,424
6,828
6,867
6,877
6,755
7,857
9,070
7,736
INDUSTRIAL AND COMMERCIAL
FAILURES
Failures, total cf
Commercial serviced1
Construction
Manufacturing and mining
Retail trade
Wholesale trade
_
number-do _ do
do
do
do
685
44
63
170
318
90
847
87
77
215
366
102
877
76
68
229
406
98
775
58
63
202
351
101
828
75
74
215
372
92
719
49
61
188
344
77
810
53
55
221
385
96
732
67
71
183
329
82
802
58
90
181
364
109
835
63
83
197
395
97
770
50
80
201
349
90
864
61
65
225
403
110
811
69
73
170
399
100
Liabilities, totaled
Commercial serviced1 - Construction
Manufacturing and mining
Retail trade
Wholesale trade
thous. of dol__
do
do
do
do
do
27, 567
896
2 476
15,009
5 728
3, 458
37,118
4,792
3,018
17,07.5
7, 269
5, 034
31,930
5, 774
1 519
1 4, 523
6 139
3,975
24, 583
1 , 599
1 434
11,182
6 034
28, 161
1,862
2,476
13. 500
6 234
4,089
21,804
1,393
1 , 845
10.183
5. 629
31,175
1,187
2,272
16, 008
6 424
5, 284
20, 598
1,289
2 148
9,379
4 929
2,853
23, 894
1,248
1 989
11,897
5 833
2, 927
22, 799
1 281
4 362
8,419
5 929
2,808
19, 251
668
1 814
7,465
6 2^4
3,020
26, 436
1 829
1 884
10, 928
7 355
4, 440
22, 156
1 875
1 824
7, 905
6 386
4,166
235
219
218
170
382
222
185
261
4, 334
2. 754
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
Prices received, all farm products t§~ -1910-14=100-Crops
do
Food grain
do
Feed grain and hay _
. do
Tobacco
_
do
Cotton
do
Fruit
do
Truck crops
_
_
_ _ _ _ _
do
Oil-bearing crops
do
Livestock and products
do
Meat animals _
_
_ _ do _
Dairy products
do
Poultry and eggs _ _
do
Prices paid :f
All commodities
1910-14—100
Commodities used in living
- do
Commodities used in production
do
All commodities, interest, taxes, and wage rates
1910-14=100-Paritv ratiot
do
255
234
223
171
404
245
198
267
262
275
309
265
216
258
232
226
176
403
242
207
235
261
281
327
254
215
256
234
229
177
403
251
225
196
256
276
324
241
220
253
235
229
174
403
252
239
194
245
271
319
235
215
249
225
213
168
404
253
235
155
232
271
323
233
212
246
221
209
171
404
253
217
168
219
269
316
237
213
244
214
205
165
400
246
181
170
241
271
310
244
225
247
212
211
166
393
250
160
188
227
279
319
251
236
242
210
213
161
396
241
180
174
221
271
301
258
230
237
210
215
157
369
233
172
213
220
262
286
261
216
233
210
219
168
394
223
174
196
225
255
280
261
194
249
286
254
158
237
215
219
171
389
231
186
203
228
257
306
250
155
242
245
238
245
247
243
244
246
242
244
245
242
242
245
239
240
244
235
?38
242
234
238
240
234
237
239
235
236
238
234
237
239
235
238
238
237
237
238
237
252
255
254
253
252
250
249
248
246
245
246
249
248
101
101
101
100
99
98
98
100
98
97
95
94
Qfi
29g
cf For comparability with data prior to 1945, figures for certain subsequent months have been revised to exclude railroad failures. Revisions are shown in the February 1950 SURVEY.
*New series. Beginning with the December 1949 SURVEY, dollar values of manufacturers' new orders have been substituted for the indexes shown prior to the October 1919 issue; figures
back to January 1946 and details regarding the new series are given on pp. 18-24 of the December 1949 SURVEY. Data on new incorporations are compiled by Dun and Bradstreet, Inc.; they
are available for the 48 States beginning 1946, and for 47 States (excluding Louisiana) beginning July 1945.
§March 1950 indexes: All farm products, 237; crops, 215; food grain, 224; feed grain and hay, 174; tobacco, 389; cotton, 236; fruit, 193; truck crops, 168; oil-bearing crops, 230; livestock and.
products, 258; meat animals, 308; dairy products, 243; poultry and eggs, 165.
fRevised series. Beginning with the February 1950 issue of the SURVEY, data are revised (effective back to 1910) to reflect changes prescribed in the Agricultural Acts of 1948 and 1949;
revisions prior to December 1948 will be shown later.
SUEVEY OF CUEEENT BUSINESS
April 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-5
1950
1949
February
March
April
May
June
July
August
September
October
November
December
January
February
COMMODITY PRICES—Continued
RETAIL PRICES
All commodities (U. S. Department of Commerce
index)
__1935-39=100_-
189.2
189.4
189.2
188.3
188.3
186.8
186.6
187.2
185.6
185.7
184.4
183.8
183.3
Coal (U. S. Department of Labor indexes):
Anthracite
Oct. 1922-Sept. 1925=100.Bituminous
. ._
_ _ _ d o __
149.1
160.0
140.1
160.0
144.9
158.1
140.7
154.7
142.3
154.8
143.0
154.8
143.4
154.9
145.4
156.4
147.4
158.5
148.3
160.5
148 4
162.7
148.5
164.1
148.5
164.4
Consumers' price index (U. S. Dept. of Labor):
\11 items
1935-39—100
\pparel
do
Food
do. .Cereals and bakery products
do
Dairy products
.do. _ _
Fruits and vegetables
do
Meats, poultry, and
fish
_do
Fuel, electricity, and refrigeration
do
Gas and electricity
__do_
Other fuels
do
Housefurnishings
_.do _ _
Rent
do
Miscellaneous
__do
169.0
195.1
199.7
170.0
192.5
213.7
221.4
138.8
96.1
192.6
195.6
119.9
154.1
169.5
193.9
201.6
170.1
190.3
214.5
229.6
138.9
96.1
192.5
193.8
120.1
154.4
169.7
192.5
202.8
170.3
184.9
218.6
234.4
137.4
96.8
187.8
191.9
120.3
154.6
169.2
191.3
202.4
170.1
182.6
220.7
232.3
135.4
96.9
182.7
189.5
120.4
154.5
169.6
190.3
204. 3
160.7
182.0
217.9
240.6
135. 6
96.9
183.0
187.3
120.6
154.2
168.5
188.5
201.7
169. 5
182.2
210.2
236. 0
135. 6
96.9
183.1
186.8
120.7
154.3
168.8
187.4
202.6
169. 4
184.9
201.9
239. 5
135.8
97.1
183.1
184.8
120.8
154.8
169.6
187.2
204.2
169.7
185.3
199.8
243.6
137.0
97.1
185.9
185.6
121.2
155.2
168 5
186.8
200.6
169.1
186. 7
194. 5
235.1
138.4
97.0
188.3
185.2
121.5
155.2
168.6
186.3
200.8
169.2
186.4
202.0
229.1
139.1
97.0
190.0
185.4
122.0
154.9
167.5
185.8
197.3
169.2
186.2
198.2
223.2
139.7
97.2
191.6
185. 4
122.2
155.5
166 9
185 0
196.0
169 0
184.2
204 8
219.4
140.0
96.7
193 1
184.7
122 6
155.1
166. 5
184.8
194.8
169.0
183.6
199.1
221 . 6
140.3
97.1
193.2
185. 3
122.8
155.1
158.1
158.4
156.9
155.7
154.5
153.5
152.9
153.6
152.2
151.6
' 151.2
151 5
152.7
148 2
159. 8
144 9
154 7
160 2
170. 5
150.5
149.1
162.4
144.4
159 1
161.3
179.9
151.1
154. 8
144.3
148 8
134.4
194 5
156.8
144.8
147.5
138. 3
201.9
145.8
191 6
163. 5
134 8
287.5
139 0
145.9
192.7
163. 1
134 9
292.0
138 6
115 7
114.7
121.5
117.4
122.7
115 3
114.7
121.4
116.9
120.9
131. 4
131.2
85.0
109.4
109.4
179.3
189 0
177.6
184.3
179.0
188.2
176.6
184.3
144. 9
151.8
137. 8
145.0
151.8
138.1
168 4
167 3
128 6
WHOLESALE PRICES cT1
U. S. Department of Labor indexes:^
All commodities
1926=100
Economic classes:
Manufactured products
do
Raw materials
-do
Semimanufactured articles
do
Farm products
do
Grains
do
Livestock and poultry
_ do
Commodities other than farm products. _do
r
154.0
165. 8
159.6
168.3
157.2
187.2
155.7
154.1
167.3
156.9
171.5
162.6
195.0
155.3
153.0
165.8
153.1
170.5
163.8
189.0
153.7
151.5
165.9
149.4
171.2
159.9
191.5
152.1
150.7
164.5
146.5
168.8
154.9
193.3
151.2
149.7
163.2
146.0
166.2
154.1
188.5
150.5
149.4
161.3
147.9
162.3
150.4
186.3
150.6
150.1
162.0
147.8
163.1
156.4
186.6
151.2
149.1
160.3
145.3
159.6
155.3
177.7
150.3
148.1
160.4
145.1
156.8
156.4
169. 6
150.2
r
r
161.5
146.7
159.8
152.3
205.1
162.9
146.5
154.8
151.7
214.8
162.9
145.3
147.2
158.1
216.0
163.8
145. 1
145.9
167.3
215.2
162.4
145.6
145.5
157.5
215.5
161.3
146.1
149.2
145.4
212.2
160.6
142.8
152.7
130.3
210.7
162.0
143.7
153.5
126.9
215.1
159.6
144.6
154.6
128.1
205.0
158.9
144.6
154.7
130.8
198.9
* 155. 8
144.6
154.4
132.5
T
193. 5
151.8
201.5
162.4
133.9
296.9
165.3
150.7
200.0
162.4
133.9
294.7
162.3
148.9
196.5
160.8
133.7
290. 6
157.9
146.8
193.9
160.8
133.7
285.2
157.4
145.6
191.4
160.8
133.7
280.7
153.6
145.0
189.0
161.5
133.1
277.4
145.2
145.0
188.2
161.5
133.0
277.4
143.8
145.3
189.4
161.8
133.0
279.7
143.9
145.0
189.2
161.8
134.5
281.9
141.1
144.9
189.5
161.9
134. 5
283.4
139.9
* 145. 5
190.4
161.9
134.5
285.2
139.3
Chemicals and allied products
do
Chemicals
- do
Drug and pharmaceutical materials. -do
Fertilizer materials
do
Oils and fats
_ __ _ __do
122.8
119.5
148.9
120.8
131.7
121.1
118.4
142.4
119.6
129.3
117.7
117.2
123.0
119.7
121.2
118.2
116.9
123.6
118.9
127.0
116.8
116.9
124.3
117.5
116.9
118.1
118.1
124.7
120.7
118.5
119.7
118.0
125.0
121.8
130.3
117.7
117.4
125.0
120.4
118.4
116.0
115.5
123.1
120.2
115.6
115.9
115.2
123.0
118.3
118.3
115.3
114.6
121.6
117.9
118.2
Fuel and lighting materials
Electricity
Gas
Petroleum and products
do
do
do_ -_
do
135.9
68.5
91.9
118.7
134.3
67.9
92.8
115.9
132.0
67.9
92.3
113.3
130.1
68.2
90.9
110.7
129.9
68.9
90.1
110.4
129.9
70.0
89.5
110.2
129.7
68.5
88.9
109.7
130.0
68.9
89.3
109.1
130.5
70.1
87.8
109.9
129.9
70.3
88.3
108.5
130.5
69.6
87.2
108.5
Hides and leather products
Hides and skins
Leather
_ ..
Shoes
do
do
_ do __
do
182.3
185.9
183.9
187.8
180.4
181.8
178.9
187.8
179.9
183.4
177.8
186.9
179.2
188.2
177.4
184.0
178.8
186.0
177.1
184.1
177.8
184.7
175.4
183.8
178.9
194.5
173.7
183.8
181.1
204.8
175.5
183.8
181.3
205.6
176.5
183.4
180.8
199.5
177.0
184.3
179.9
192.8
178.1
184.3
do
do_ __
do
148.3
154.2
142.3
148.0
153.9
142.1
147.0
152.4
141.6
146.2
151.9
140.3
145.1
150. 9
139.3
143.0
149.1
136.8
142.9
149.1
136.6
142.9
149.1
136.6
143.0
149.2
136.7
143.4
149.9
136.8
144. 2
151. 2
' 137.0
_ do_ __
- do
do
do
175.5
169.1
172.5
156.1
174.4
168.3
168.4
155.3
171.8
166.2
156.4
154.9
168.4
165.1
138.2
154.7
167.5
164.7
128.8
154.7
167.9
164.2
132.1
154.7
168.2
163. 8
135.9
154.7
168.3
164.0
135.7
154.6
167.3
163.3
131.5
154.6
167.3
163.4
131.7
154.6
167.8
165.4
129.2
154.6
r 151 7
168
168
128
148
do
do
_ - do
do
do
.-do -.
do
145.2
147.3
184.8
101.3
41.8
50.1
162.1
143.8
147.1
180.1
101.2
41.8
50.1
161.8
142.2
146.4
176.2
101.2
41.8
50.1
160.9
140.5
146.0
172.6
100.4
40.8
50.1
159.7
139.2
145.6
169.7
99.6
39.6
49.2
159.7
138.0
144.8
167.3
98.5
39.6
49.2
157.6
138.1
144.8
170.2
98.4
39.6
49.2
152.6
139.0
144.8
174.8
98.4
39.6
49.2
150.4
138.0
144.6
176.5
98.4
39.6
49.2
145.1
138.0
144.2
177.9
98.4
39.6
49.5
146.0
138.4
144.0
178.4
98.4
39 6
49.9
146.9
138 5
143 9
178 7
98 5
39 6
50 1
r 147 o
138 2
143 1
178 4
98 6
39 9
50 1
147 2
115.3
64.7
168.0
115.7
64.6
167.2
115.6
64.6
165.1
113.5
64.5
163.3
111.0
62.1
159.6
111.3
60.6
156.8
109.8
60.6
156.8
109.6
60.6
156.5
109 0
60.7
156.5
109.7
62.5
156.5
110 7
64.3
156.0
110 0
64 3
155 9
110 0
64 3
155 6
50.9
59.2
50.1
50.8
59.0
49.6
51.2
58.9
49.5
51.6
59.1
49.4
52.0
59.0
48.9
52.4
59.3
49.6
52.6
59.2
49.4
52.4
59.0
49.0
52.8
59.3
49.9
53.1
59.3
49.8
53.2
59.7
50.6
53 1
59 9
50 9
52 7
60. 1
51 2
Foods
Cereal products
Dairy products
Fruits and vegetables
Meats poultry and
do
- do
do
- do
.do
fish
Commodities other than farm products and
foods
1926=100.Building materials
do
Brick and tile
do __
Cement
do
Lumber
do
Paint and paint materials
do
Housefurnishing goods
Furnishings
Furniture
Metals and metal products
Iron and steel
Non ferrous metals
Plumbing and heating
Textile products
Clothing
Cotton goods
-.
Hosiery and underwear
_
Rayon and nylon
Silk
_ Woolen and worsted goods
Miscellaneous
Automobile tires and tubes
Paper and pulp
_
do
_ do
do
148. 0
!59.5
144.7
1
154.9
160. 9
' 167. 0
«• 150. 2
r
r
r
r
r
r
r
r
r
r
6
7
1
7
PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices
Consumers' prices
Retail food prices
1935-39=100
do
- do
' Revised. cfFor actual wholesale prices of individual commodities, see respective commodities.
tThe Department of Labor is currently reviewing and revising the samples of commodities and of reporters for the indexes, subgroup by subgroup, to reflect postwar changes
in production and distribution. As subgroup revisions are completed, the revisions are incorporated in the pertinent group indexes and the all-commodity index and the subgroup indexes
are revised retroactively for the entire period covered by the revision; however, to avoid repeated revisions of the group indexes and the all-commodity index, these are not revised retroactively
more than 2 months. If introduction of a revised subgroup into the calculations changes significantly the levels of the group indexes and the all-commodity index, the latter indexes computed
with the original sample for the first month of the revision will be provided in a footnote. In some instances, it is necessary to correct previously published indexes because of late reports,
incorrect reports, or other errors in prices previously used. Indexes for the latest 2 months are preliminary and are currently revised to incorporate corrections received in the 2 months following. Any additional corrections received are incorporated in final annual summaries issued in the middle of the year. Indexes for June-December 1948 were corrected in the August 1949
SrRVEY. Corrected indexes for January-May 1948 are available upon request.
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
April 195C
1950
1949
Febru-
ary
March
April
May
June
July
August
Septem-
ber
October
Novem-
ber
Decem-
ber
January
Febru-
ary
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY
New construction, total
mil. ofdol _
Private, total
_ _.
_ __
_ _ do. _.
Residential (nonfarm)
do
Nonresidential building, except farm and public
utility, total
mil. of dol
Commercial*
do
Industrial
do
Farm construction
_do
Public utility
do
Public, total
Residential
___
Military and naval
Nonresidential building
Conservation and development*
Highway
All other
do
, do
do
..do
do
do
do
1,172
905
400
1,267
951
420
1,370
989
445
1,576
1,108
530
1,735
1,229
600
1,833
1,301
650
1,903
1,343
675
1,922
1,368
710
1,879
1,343
715
1,767
1,295
1,612
1,225
715
690
1,496
1, 139
650
1,395
1,068
590
271
78
104
10
224
262
79
96
18
251
251
76
89
30
263
257
83
82
40
281
268
92
76
50
311
269
91
72
60
322
264
85
71
75
329
263
83
70
65
330
261
82
68
50
317
266
86
68
25
289
261
84
68
15
259
252
69
11
226
246
75
70
12
220
267
8
7
108
39
52
53
316
10
9
122
45
68
62
381
14
8
134
56
100
69
468
15
9
141
67
160
76
506
17
9
144
74
186
77
532
20
10
148
75
200
79
560
23
12
152
77
215
81
554
27
14
155
77
200
81
536
27
14
158
74
185
78
472
24
12
151
65
145
75
387
22
9
142
56
92
66
357
24
10
142
48
70
63
327
20
9
140
45
50
63
16,510
568, 467
251 , 866
316, 601
24, 281
747, 619
281,947
465, 672
31,570
842, 586
318, 506
524, 080
33, 474
880, 344
368, 551
511,793
37, 203
945, 676
375, 431
570, 245
32, 579
943, 560
410, 352
533, 208
43, 782
37, 662
46, 925
905, 748 1, 093, 724 1, 061, 751
331, 892
316,409
288, 754
589, 339
729, 859
804, 970
40, 132
957, 761
315, 683
642, 078
34, 704
929, 030
298, 714
630, 316
30, 989
730, 855
200, 541
530, 314
35, 715
779, 530
284, 925
494, 605
2,929
21, 646
221, 895
3,695
27, 953
327, 441
4,154
31, 929
316, 370
4,138
30, 166
320, 630
4, 5\78
32, 961
335, 961
4, 384
33, 283
350, 282
4,318
25, 746
278, 031
4,186
32, 448
345, 023
4,528
32, 004
357, 085
3,518
25, 495
266, 103
3,293
28, 345
303, 205
2,882
22, 297
235, 294
3,017
24, 790
265, 567
12, 770
26, 665
193, 073
19, 288
28, 282
251, 770
25, 541
37, 087
303, 825
27, 187
42, 392
346, 251
29, 949
45. 804
370, 752
25, 570
42, 950
340, 593
31,079
48, 146
393, 434
40, 342
65, 715
525, 572
37, 289
60, 801
500, 702
35, 224
53, 262
435, 235
29, 918
49, 481
419, 051
27, 229
42, 078
343, 501
31, 650
46, 235
361, 452
573
954
117, 325
120, 210
1,513
169, 700
1,737
179,396
2,197
175, 861
2,142
207, 130
1,892
173, 714
1,947
171, 576
1,566
128, 860
1,032
125, 891
1,185
134, 384
86, 300
CONTRACT AWARDS
Construction contracts awarded in 37 States (F. W.
Dodge Corp.):
Total projects
number
Total valuation.
_ _thous. ofdol _
Public ownership
do
Private ownership
_ do __
Nonresidential buildings:
Projects
_ . .number _
Floor area
thous. of sq. ft
Valuation _ _
_thous. ofdol .
Residential buildings:
Projects
number
Floor area
thous. of sq. ft
Valuation
_ thous. of doL.
Public works:
Projects
number
Valuation _
_
thous. of dol
Utilities:
Projects
_ _ ._ _
number
Valuation _ ._ __ _ _
._ thous. of dol _
Value of contract awards (F. R. indexes):
Total unadjusted
1923-25 = 100
Residential, unadjusted _ _ _
do
Total adjusted
do
Residential, adjusted
do
Engineering construction:
Contract awards (E. N. R.)§
thous. of dol__
Highway concrete pavement contract awards:^
Total
thous. of sq. y d _ _
Airports
do
Roads
_ _
do
Streets and alleys
do _
238
36, 174
344
362
412
483
373
52, 691
479
450
48, 198
34, 067
63, 102
45, 555
60, 569
51, 553
399
75, 104
358
130, 532
643
308
72, 390
146
109
169
123
176
136
175
130
201
165
177
141
218
187
181
159
226
194
195
176
228
202
209
200
238
226
229
228
247
254
246
254
251
260
263
269
240
245
265
256
213
217
262
255
563, 084
743, 529
589, 693
601, 709
896, 128
619, 442
781, 416
810, 309
553, 482
589, 224
863, 561
1,151
37
601
513
3,302
59
2,164
1,079
3,653
53
1,633
1, 968
4,410
327
2,198
1,885
7,966
787
4, 7S2
2,387
5,035
95
2,950
1,990
5,224
89
2,854
2,281
3,927
208
2,154
1,565
2,648
487
1,037
1,124
3,329
498
50, 400
69, 400
88, 300
95,400
95, 500
96,100
99, 000
102, 900
104, 300
29, 002
26, 522
18, 331
1, 345
6, 846
2,480
46, 225
42, 315
32, 909
2,391
7,015
3,910
53, 782
51,012
37, 758
2, 960
10, 294
2,770
57, 767
54, 397
36, 503
2,588
15, 246
3,370
58, 899
55, 454
36, 985
2, 131
16, 338
3,445
51,655
48, 501
34, 324
1 , 765
12,412
3,154
58, 636
57, 093
40, 382
2,282
14, 429
1,543
64, 580
62, 434
43, 982
2,196
16, 256
2,146
59, 574
57, 320
41, 794
2.747
12, 779
2,254
»• 168. 4
r 238. 6
'301.6
r
197. 1
«• 202. 7
267.5
333.4
467.0
248.6
265.0
308.7
362.9
523. 5
257.0
277.0
330.5
380.4
583.5
240.2
287.3
338.5
427.5
578.3
334.8
329.0
295.3
342.3
495.9
234.0
277.7
337.7
390.8
570.4
267.5
306.9
377.3
412.6
627.5
278.2
279.0
494
521
510
447
482
492
518
508
446
480
488
509
497
445
477
486
506
495
446
474
235
65, 760
r
805
120, 178
243
32, 333
198
-•203
'242
r
245
217
226
250
254
915, 475
686, 221
* 3, 1040
55
1
1, 907
1 1, 078
3,396
310
1,952
1,134
2,322
81
1,369
«• 95, 500
79, 000
80, 000
80, 000
54, 394
52, 357
41, 562
2, 095
8,700
2,037
44, 736
43, 365
31,327
1,996
10, 042
1,371
49, 630
48, 852
36, 033
2,283
10, 536
53, 070
52, 893
40, 184
2,379
10, 330
343.5
387.8
592.8
253.0
276.5
313.7
354.2
556.0
233.7
213.8
257.5
319.7
433.4
273.8
184.2
' 288. 3
r
319. 1
r
484. 9
'214.5
'217.8
306. 0
327.9
532.0
201.3
197.7
484
505
492
442
471
484
503
493
442
471
483
503
493
442
471
486
506
495
444
474
345
345
345
346
939
1, 891
872
NEW DWELLING UNITS AND URBAN
BUILDING
New permanent nonfarm dwelling units started
(IT. S. Department of Labor)
number
Urban building authorized (U. S. Dept. of Labor):
New urban dwelling units, totalt
number __
Privately financed, total
do
Units in 1-family structures
do
Units in 2-family structures __ __ ___ do _ .
Units in multifamily structures. _ . do. ._
Publicly financed, totaL_
_
__ _do
Indexes of urban building authorized:
Number of new dwelling units
1935-39=100..
Valuation of building, total
do
New residential building.
do
New nonresidential building _
do
Additions, alterations, and repairs
do
778
177
CONSTRUCTION COST INDEXES
Aberthaw (industrial building)
1914—100
American Appraisal Company:
Average, 30 cities
1913 = 100
Atlanta...
do_
New York
._ _
do
San Francisco
do__
St. Louis
do
Associated General Contractors (all types) ._ .do
E. H. Boeckh and Associates, Inc.:
Average, 20 cities:
Apartments, hotels, and office buildings:
Brick and concrete
U. S. avg. cost 1926-29=100..
Brick and steel
do
Brick and wood _
do
Commercial and factory buildings:
Brick and concrete
do
Brick and steel. __
do...
Brick and wood
do
Frame
do
Steel
do
Residences:
Brick
___
do
Frame
do
319
313
499
529
516
452
488
496
525
513
448
485
339
339
340
340
209.3
211.5
220.9
209.3
211.0
219.2
208.6
210.0
218.2
207.1
208.0
214.9
213.2
210.6
216.5
226.3
197.7
213.3
210.3
215.5
223.8
197.5
212.0
209.5
214.5
222.5
196.7
221.2
221.1
219.7
219.1
218.7
217.8
489
510
501
445
477
486
506
495
443
474
345
207.1
206 1
210.0
207.4
206 3
211.1
207.9
207.2
212.9
208.3
207 5
213 7
208.6
207 9
213 4
209.1
208 6
213 9
210.1
210 1
215 8
210.2
207.1
208 6
212 6
194 1
210.6
207.3
208 2
211 3
194 4
210.7
207.6
208 9
212 7
194 4
211.1
208.4
210. 1
215 2
194.4
211 4
208.7
210 9
216 3
194 6
211 6
208.9
210 9
215 6
194 9
212 0
210 0
211 1
215 9
197 7
212
210
212
218
198
211.4
208.7
210.6
207.6
211 7
208.9
213.4
210.8
214 0
211.6
213 8
211.2
214 2
211.6
216 1
214. n
342
208.2
208.1
214.6
206.5
206 2
210.8
209.3
207.5
211.2
219.0
194.7
211.1
208. 3
211.3
218.2
195.1
215.6
214.3
215.4
213.6
' Revised.
1 Data include some contracts awarded in prior months but not reported.
* New series. Monthly averages for 1915-38 and monthly figures for January 1939-July 1948 are available upon request.
§Data for March, June, September, and December 1949 are for 5 weeks; other months, 4 weeks.
d"Data for March, June, August, and November 1949 are for 5 weeks; other months, 4 weeks.
JMinor revisions in figures for number of dwelling units beginning January 1947 are available upon request.
485
503
493
443
471
343
343
343
307
307
7
9
6
6
5
SURVEY OF CURRENT BUSINESS
April 1950
S-7
1950
1949
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
February
March
April
May
June
July
August
September
October
November
December
January
r 353. 2
480.3
356.2
484.7
356.5
484.9
February
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES— Con.
Engineering News-Record:c?
Building
. 1913=100 _
Construction
_
do
Bu. of Public Roads— Highway construction:
Composite standard mile
1925-29=100
352.5
474.8
351.4
' 474. 3
348.9
472.1
349.3
473.8
161.4
r
349. 5
477.5
r
350. 9
' 478. 2
r
352.0
479.8
353. 0
r 480. 5
155.5
' 352. 9
480.0
148.7
360.0
488.4
145.3
CONSTRUCTION MATERIALS
Production of selected construction materials, index:
Unadjusted
1939=100 Adjusted
do
108.2
131.2
129. 9
137.5
130.5
131.3
132.6
125.3
135.3
126.4
123.8
116.4
146.8
129.7
148.9
138.5
140.8
127.1
183,152
188, 634
162, 187
156, 122
168, 527
154, 576
186, 312
173, 970
198, 235
386
357
339
333
358
332
331
333
347
'r 142. 8
144. 1
r
r
135. 9
153. 7
120.1
140.6
199, 841
211, 758
232, 950
371
427
REAL ESTATE
Home mortgages insured by Fed. Hous. Admin.:
New premium paying mortgages. ...thous. of dol__
Loans outstanding of agencies under the Home
Loan Bank Board:
Federal Home Loan Banks, outstanding advances
to member institutions
mil. of dol Home Owners' Loan Corporation, balance of
loans outstanding
mil of dol
New mortgage loans of all savings and loan associations estimated total
thous of dol
By purpose of loan:
Home construction
_
do
Home pur chase
do
Refinancing
do
Repairs and reconditioning
do__ _
All other purposes
do_
New nonfarm mortgages recorded ($20,000 and
under) estimated total f
thous. of dol
Nonfarm foreclosures, adjusted" index-_1935-39= 100_ Fire losses
thous. of dol__
344
319
206, 681
331
231
291
214, 931
269, 128
279, 606
293, 215
326, 637
304, 343
348 276
354 194
353, 909
343 260
342 028
' 300,906 325, 224
59, 611
90, 348
24, 181
11, 822
28, 969
76, 666
111, 523
30, 562
14, 242
36, 135
84, 277
116, 051
29, 383
15, 663
34, 232
87, 517
125, 073
28, 849
17, 375
34, 401
97. 963
141, 674
31, 838
17, 714
37, 448
90, 397
128, 657
29, 026
16, 732
39, 531
101, 022
149, 867
34, 443
19. 510
43, 434
108, 280
155, 915
33, 188
18, 362
38, 449
102, 151
159, 050
31,814
17, 796
43, 098
105, 784
150, 877
33, 441
15, 735
37, 423
112, 463
141, 059
33, 358
14, 384
40, 764
r 94, 916
107, 335
' 124, 265 128, 398
' 32, 041 32, 573
r 11, 584
13, 706
43, 212
«• 38,100
770, 561
9.7
62, 424
896, 790
10.3
67,218
922, 023
9.7
55, 290
959, 653
9.7
54, 162
1,018,427
10.9
51,787
967, 440
11.8
49, 592
1,068,813
12.8
50. 150
1,065,431 1,117,212 1, 114, 041 1, 125, 200 1,024,000 1, 003,090
11.9
12.8
13.8
11.8
49, 678
48, 914
53, 116
67, 279
58, 340
58, 823
DOMESTIC TRADE
ADVERTISING
Advertising indexes, adjusted:
Printers' Ink, combined index
Magazines
Newspapers
Outdoor
__
Radio
Tide advertising index
301
334
274
310
303
287.6
318
350
306
296
307
301.2
310
346
280
279
309
284.6
309
338
290
289
308
286.4
302
314
286
296
305
283.2
276
284
264
274
252
257.6
270
297
252
284
256
272.2
16, 119
123
612
4,042
601
320
17, 700
124
657
4, 616
702
342
16, 763
119
729
4,240
653
349
17, 074
114
809
4,470
683
364
15, 425
75
663
4,285
644
336
12, 085
89
332
3 473
222
318
12, 160
71
335
3,544
208
287
4,493
570
162
1,707
1,915
1,573
5.006
620
164
1,936
1,948
1,585
4,690
530
169
1,818
1,960
1,506
4,608
460
197
1, 852
1, 990
1,526
4,127
408
158
1, 698
1,966
1 067
2,994
379
148
1,148
1 844
1 139
do
do
do_ _ _
do
do
do
do. __
39, 069
3,373
3,227
1,286
5,203
6,584
2,066
46, 365
5,224
3, 923
1,842
5,610
6,299
2, 435
51, 170
5,509
4,705
2,545
5,584
6,479
2,413
50, 659
4, 937
4,562
2,427
5,463
6,396
2,432
40, 642
3,185
3,856
1 774
5, 162
5,678
2,215
Household equipment and supplies§
do _ _
Household furnishings§_
_.
do_ __
Industrial materials!
_
_ _ d o _.
Soaps, cleansers, etc
_ _ _
do
Smoking materials
_.do
All other
_ . _ _ do __
1,998
1,617
1,648
1,027
1,205
9,834
3,007
2,272
1,910
1, 300
1,334
11. 208
3,861
2,978
2,165
1,387
1, 356
12, 187
3,781
3, 332
2,075
1,478
1,455
12, 320
3,921
4,301
4,350
202, 070
42, 195
159, 875
9,698
2 236
34 029
113. 914
205, 466
43, 404
162, 062
9,791
2 143
32 453
117.676
-
1935-39=100-do
do
do_
do
do_ _
Radio advertising:
Cost of facilities total
_ thous. ofdol4pparel and accessories
do
Automotive, incl. accessories
__do _
Drugs and toiletries
do
Electric household equipment _
do_
Financial
do
Foods, soft drinks, confectionery
Gasoline and oil
Household furnishings, etc
Soap, cleansers, etc _
Smoking materials
__
All other
Magazine advertising :J
Cost, total
Apparel and accessories
Automotive, incl. accessories
.
Building materials!
Drugs and toiletries
_ _
Foods, soft drinks, confectionery
Beer , wine, liquors§
_-
Linage, total
do
do
- do
do_
do _
do
thous. of lines. _
Newspaper advertising:
Linage, total (52 cities)
_
- do __ 163, 379
Classified
do
35, 559
Display, total
_ _ _
do 127, 820
7,335
Automotive
do
Financial
do
1 744
General
do
26 920
Retail
do..- _
91. 820
••Revised.
* Preliminary.
cfData, reported at the beginning of each month, are shown
ponents ai
equipmen.
§See note marked "J" above.
292
301
286
299
278
293.2
306
294
305
323
289
284.5
305
308
291
320
287
274.1
294
291
286
292
287
256 2
330
334
300
288.3
14 083
96
404
3 829
247
298
16, 423
117
486
4 494
189
282
15, 855
101
463
4 381
198
278
16 409
118
447
4 400
218
296
17 085
109
720
4 627
198
289
3, 073
376
103
1,255
1,743
1 165
4,006
377
112
1,467
1 782
1 465
4,597
416
128
1,547
2 126
2 041
4,463
407
139
1, 583
2 089
1 753
4, 741
463
152
1 615
2 215
1 744
4 731
452
114
1 664
2 164
2 016
28 582
771
3,481
956
4 538
4,938
1,755
31, 495
3 436
3,330
917
4 284
4,812
1,614
41 729
5 273
3,490
1 789
5 093
5,665
2 002
51 213
4 919
4,216
2 001
6 397
7^568
2 815
45 882
3 813
3,438
1 346
6 020
6, 693
2 790
36 921
2 632
2,684
539
4 690
5,271
3 469
29 186
1 517
2 610
739
4 470
4, 951
1 738
2,970
1,712
1,996
1 098
1,345
9,651
1,318
489
1 456
833
1,191
6 858
1,025
956
1,286
1 040
1,348
7,447
2, 129
2,633
1 822
1 441
1,252
9 139
3,326
3,389
2 133
1 606
1 634
11 208
2, 866
2,827
1 829
1 295
1 416
11 549
2, 502
1, 360
1 490
698
1 456
10 130
739
782
1 259
' 673
1 201
8 506
3,806
2,814
2,854
3,494
3, 921
4,464
3,645
2,838
3,261
3,868
210, 677
45, 386
165, 291
9, 554
2 001
33 758
119. 978
193 287
41, 476
151 811
9,265
2 039
31 045
109. 462
164 040
40, 082
123 959
8 115
2 252
24 534
89. 057
170 504
40, 713
129 791
8 887
1 609
21 879
97. 416
197 858
40, 050
157 808
8 224
1 752
29 766
118. 066
214 935
42, 295
172 640
10 033
2 140
38 417
122.051
207 909
38, 306
169 603
9 891
2 337
33 689
207 865
36, 061
171 805
7 330
2 139
26 337
168 921
37, 157
131 764
10 014
3 237
170 738
35, 362
135 376
7 668
1 911
29 473
123 fiSfi
13ft QQQ
Q4 783
here for the previous month.
r
'329
r 326
00
^Of)
315
330
297
328
288
"310 3
Q(\ 294.
f Revisions for 19_44-November 1948 are available upon request.
Beginning with the October 1949 SURVEY, five new corncovers all items formerly included in "electric household
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
April 1030
1949
February
March
April
May
June
July
1950
August
Se
m
ber " 1
October
November
December
January
February
DOMESTIC TRADE—Continued
POSTAL BUSINESS
Money orders:
Domestic, issued (50 cities):
Number
Value
Domestic, paid (50 cities):
Number
Value
thousands
thous. of dol_thousands
thous. of dol
4 422
87, 275
5,105
101,312
4 718
91, 387
4,318
84, 477
4 743
84, 583
4 042
81, 320
3 967
85, 093
4 175
83. 785
4 557
88, 798
4 409
83, 938
4 844
90, 046
4 531
89. 403
4 961
88. 510
13, 245
209, 374
16, 680
264, 621
14. 106
218 673
13, 971
197,015
14, 711
207, 673
12, 822
185 481
13, 749
203, 946
13, 592
201,534
14, 005
207 377
14 397
205 209
15, 096
209 721
14. 463
190, 987
12.694
181 523
PERSONAL CONSUMPTION
EXPENDITURES
Seasonally adjusted quarterly totals at annual rates:
Goods and services total
bil of dol
Durable goods, total
_ __ -do ___
Automobiles and parts
do
Furniture and household equipment do
Other durable goods
_do
Nondurable goods, total
Clothing and shoes
Food and alcoholic beverages
Gasoline and oil
Semidurable housefurnishings
Tobacco
Other nondurable goods
Services
Household operation
Housing
Personal service
Recreation
Transportation
Other services _
do
do
do
do
_do
do
_ -do _
_ _ _ _do _
do
do _
do
_ _ _ _do _
do
do__ _
178.7
179.3
179 7
179 8
23.0
9.0
10.3
3.7
23.6
9.9
10.0
3.7
25.7
11.0
3.5
25.2
10.6
11 1
3.6
100.4
19.3
60.1
4.3
2.0
4.3
10.5
99.8
19.3
59.5
4.6
1.8
4.3
10.4
97.6
17 9
58.8
4 6
1.8
4 3
10.1
97.7
18 2
58.8
4 6
1.8
4 3
10.1
55.3
8.1
16.6
3.6
4.0
5.2
17.7
55.9
8. 1
16.8
3 7
4.0
5 2
18.0
56 5
8 3
17 0
37
4 1
5 2
18 3
56.9
8 4
17.3
3 7
3.9
5 2
18.4
11 9
RETAIL TRADE
All types of retail stores :f
Estimated sales, unadjusted, total9__mil. of dol .
Durable-goods stores 9
do
Automotive group 9
_
___
-do
Motor- vehicle dealers 19
do
Parts and accessories d
__
do ___
Building materials and hardware group d*
mil. of dol—
Building materialsd1
-do
Farm implements
do
Hardwared1
_
_
--do
Homefurnishings group d1- -do
Furniture and housefurnishings d1-- do
Household appliances and radios d*-- -do
Jewelry stores d1.
. _
-___-do_
Nondurable-good 1stores 9
Apparel group d
Men's clothing and furnishingsd 1
Women's apparel and accessories
Family and other apparel d*
Shoes - _. _Drug stores
Eating and drinking places 9
do
do
do
do
do
do _
do
do
Food group 9
do
Grocery and combination 9
do
Other food 9 _ . _ _ _ _
_do
Filling stations
_
_ do
General-merchandise group §
do
Department, including mail-order§__ do_.
General, including general merchandise
with food
mil. of dol
Dry goods and other general merchandised1
mil. of dol_ _
Variety
do
Other retail stores©--- -do _
LiquorO
- do
Other§
do
8,919
2,592
1,522
1,420
102
10, 526
3,280
1,989
1,864
126
11,137
3,469
2,059
1,925
134
10, 763
3,520
2, 039
1,898
141
10, 809
3,601
2,093
1,945
148
10, 210
3 370
2,026
1 880
146
10, 630
3 631
2, 165
2 019
145
10, 998
3 526
2 006
1 872
134
11, 125
3. 596
2,011
1,868
143
10, 872
3 348
1 794
1 650
144
12, 846
3 378
1,588
1 419
170
'r 9, 522
3 061
r
1 907
1 799
582
357
90
135
420
245
175
68
728
438
132
159
489
288
201
73
818
482
148
188
515
307
208
78
855
523
135
197
542
328
214
84
874
544
139
192
543
320
223
91
788
486
128
173
490
274
216
66
851
563
121
167
541
307
234
75
880
591
114
174
564
316
247
77
898
606
116
176
603
333
270
84
835
569
100
167
621
350
271
97
780
475
85
220
776
424
352
233
' 619
* 414
78
6,327
578
138
270
80
89
280
853
7,246
754
163
369
103
118
298
937
7,668
934
203
437
124
170
300
952
7, 243
757
178
348
103
127
296
944
7 208
736
192
315
97
132
297
932
6 839
530
132
226
73
98
296
945
6 998
563
118
268
78
99
293
972
7 472
788
171
373
107
136
288
958
7 529
806
186
385
112
122
295
961
7 524
835
209
390
121
115
286
895
9 468
1 208
345
507
187
168
384
954
r g 462
T
606
165
r
261
86
94
2,284
1,822
462
442
1,013
657
2,512
2,002
510
500
1,242
832
2,583
2,072
512
524
1,401
920
2,461
1,961
500
550
1,303
864
2 491
1 , 973
518
552
1 270
836
2 574
2 056
518
573
1 058
656
2 518
1 997
521
563
1 190
783
2 566
2 036
529
551
1 347
913
2 563
2 040
522
567
1 377
929
2 484
1 978
506
533
1 504
1 040
2 823
2 272
551
540
2 264
1 500
r 2 436
1 855
480
487
986
654
2 300
1 851
449
453
981
648
123
140
162
156
154
149
144
146
145
143
178
112
109
97
137
877
126
750
116
153
1,003
137
866
136
184
974
146
828
126
157
932
132
799
123
157
930
130
800
103
151
863
130
733
107
156
899
126
774
125
162
974
138
836
130
173
960
148
812
136
184
r
988
157
832
209
377
1,296
258
1 037
r
92
198
885
125
r
760
89
136
888
123
766
' 108
r
127
'472
' 259
212
r
64
r 286
r 875
r
9,281
3 053
1 889
1 783
107
603
399
79
125
496
267
229
65
6 228
' 535
131
241
75
88
272
798
10,759
10, 706
10, 684
10, 814
10, 724
Estimated sales (adjusted), total
do
10, 669
10, 549
10 856
10 678
10, 503 r 10 855
10 630
11 102
r 3' 558
3 742
3, 328
3,309
3,207
Durable-goods stores _
_ - _ _ do
3,333
3,314
3. 346
3 504
3,480
3 145
3 551
3 334
1,885
1,914
1, 902
1, 783
Automotive group
do
1 949
1 933
2 094
2 074
r 2 077
2 081
1 675
1 867
2 206
1,746
1.645
1,779
1,764
Motor-vehicles dealers
do
1.813
1 947
1,798
1 942
1 955
1 534 1
1 729
1 941
9 061
r 136
139
138
Parts and accessories _ _„ ._
_ do
135
135
138
136
132
134
139
141
138
144
Building materials and hardware group
813
792
797
792
788
mil. of doL766
783
796
781
798
798
'800
828
r 531
552
492
494
507
483
Building materials
do
473
496
501
515
507
524
532
183
r 167
Hardware
.
do
169
177
171
181
177
165
177
166
168
173
165
r 592
538
519
530
516
Homefurnishings group
do
528
529
533
546
583
579
589
616
337
334
r 336
Furniture and housefurnishings
do
301
306
316
306
306
311
299
302
318
318
214
222
227
215
213
Household appliances and radios, do
227
244
230
265
255
255
261
278
92
Jewelry stores.
do
Q3
96
97
93
96
83
93
90
88
87
85
* 8Q
r
Revised.
fRevised series. Dollar estimates of sales for all types of retail stores have been revised for various periods back to 1943; specific periods for which the series have been revised are as stated
in the notes below. Adjusted dollar values for sales and inventories of all types of retail stores have been substituted beginning with the October 1949 SURVEY for the index numbers formerly
shown; monthly data for 1946-48 for both the unadjusted and adjusted series appear on pp. 21-23 of that issue. Revised data on sales of chain stores and mail-order houses for 1943-July
1948 are shown on p. 23 of this issue of the Survey. Unpublished revisions are available upon request.
V Revised beginning 1943.
d'Revised beginning 1948.
§Revised beginning 1947.
©Revised beginning 1945.
SURVEY OF CURRENT BUSINESS
April 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-9
1950
1949
February
March
April
May
June
July
August
September
October
November
December
January
February
DOMESTIC TRADE— Continued
RETAIL TRADE—Continued
All types of retail storesf— Continued
Estimated sales (adjusted), total — Continued
Nondurable-goods stores
mil. of dol
Apparel group
do
Men's clothing and furnishings do
Women's apparel and accessories
do
Family and other apparel
-do
Shoes do Drug stores
do
Eating and drinking places
__do
7,499
791
196
357
111
127
313
992
7,415
776
184
352
111
129
305
955
7,500
801
180
380
111
130
310
973
7,431
800
194
366
112
128
297
920
7,338
772
188
355
105
124
303
923
7,216
708
179
315
99
115
299
926
7,189
695
167
314
97
117
296
915
7,352
738
173
337
104
124
293
916
7,127
709
165
334
99
111
295
904
7,296
762
179
360
104
119
296
900
7,358
747
182
342
104
119
290
937
' 7, 297
'756
194
'331
107
'124
'305
'917
7,359
735
186
319
104
125
304
930
do
do
do
do_ __
do
do
do
2,552
2,026
526
534
1,340
873
977
2,560
2,040
520
528
1,317
859
974
2,540
2,027
513
534
1,367
905
975
2,539
2,033
506
524
1,376
909
975
2,527
2,009
518
526
1, 336
885
951
2,500
1,989
511
526
1,304
868
953
2,502
1,989
513
528
1,317
881
936
2,540
2,032
508
534
1,342
897
989
2,465
1,964
501
535
1,274
851
945
2,539
2,027
512
536
1,297
859
966
2,519
2,024
495
538
1,356
911
971
'2,511
' 1, 994
517
541
1,304
867
'965
2,563
2,052
511
548
1,298
862
982
Estimated inventories (adjusted), total
do
Durable-goods stores _ _
_ do. __
Automotive group do
Building materials and hardware group
mil. of doL .
Homefurnishings group
do
Jewelry stores. ._
- _
___do__ _
Nondurable-goods storesdo
Apparel group ..
-do - _
Drug stores
do
Eating and drinking places
do
Food group _ _
do
Filling stations
do
General-merchandise group _ _
do
Other retail stores
do
14, 479
5,675
2,169
14, 700
5,751
2,150
14, 458
5,669
2,038
14, 139
5,375
1,841
14, 182
5,357
1,914
13, 862
5,289
1,917
13, 932
5,333
2,051
14, 355
5, 580
2,222
14, 475
5,725
2,317
14, 336
5,548
2,116
13, 698
5,112
1,740
' 13, 998
' 5, 329
' 1,950
13, 883
5,188
1,823
1,857
1,215
434
8,804
1,747
599
428
1,511
329
2,875
1,315
1,904
1,234
463
8,949
1,833
602
465
1,523
329
2,925
1,272
1,938
1,235
458
8,789
1,794
588
426
1,458
328
2,847
1,348
1,935
1,139
460
8,764
1,798
581
423
1,488
333
2,787
1,354
1,904
1,086
453
8,825
1,810
596
423
1,530
347
2,733
1,386
1,882
1,039
451
8,573
1,716
571
402
1,543
347
2,646
1,348
1,840
993
449
8,599
1,752
583
398
1,529
324
2,675
1,338
1,869
1,047
442
8,775
1,806
596
411
1,552
327
2,767
1,316
1,870
1,112
426
8,750
1,809
563
396
1,550
301
2,843
1,288
1,865
1,130
437
8,788
1,780
555
411
1,496
287
2,943
1,316
1,798
1,117
457
8,586
1, 768
541
416
1,444
277
2,893
1,247
' 1,849
'1,071
457
' 8, 669
' 1, 746
'567
'392
' 1, 489
'270
' 2, 943
' 1, 262
1,822
1,084
459
8,695
1,789
559
392
1,499
287
2,966
1,203
1,856
173
28
85
45
29
'55
64
48
18
424
2,186
238
38
120
59
38
70
68
52
22
530
2,401
308
46
148
90
42
85
67
54
24
620
2,240
238
37
116
66
46
93
66
26
581
2,226
235
38
108
70
47
99
66
51
25
573
2,095
176
22
88
52
49
87
69
52
23
501
2,144
180
21
93
52
47
102
66
53
26
562
2,307
249
40
117
71
41
112
64
50
26
622
2,358
239
38
119
62
44
113
67
51
29
637
2,339
236
43
113
59
43
99
63
49
29
669
3,068
358
65
168
96
64
78
94
52
40
1,041
'1,872
'162
30
'73
'45
'31
'70
'63
50
'20
'415
1,882
158
25
76
45
32
61
61
45
21
431
224
76
116
740
298
92
129
816
368
86
155
848
351
86
132
789
347
82
132
773
300
62
127
797
330
90
132
754
369
105
137
778
381
100
145
812
378
126
155
789
570
140
317
906
'228
71
'108
'737
235
73
114
755
267.7
300.6
316. 3
284.7
409.2
242.2
238.6
292.2
232.2
226.4
222.7
291.3
286.8
302.0
315.1
271.2
413.0
243.0
241.8
300.2
225.2
218.1
214.9
289.9
310.6
304.5
328.8
273.4
441.1
246.9
240.8
306.5
229.8
233.2
229.4
288.3
306.9
308.4
315.4
291.1
404.5
241.1
248.2
325.1
225.2
221.4
236.6
303.4
300.5
300.9
304.3
271.3
392.5
235.7
235.2
325.6
225.3
223. 7
231.8
293.1
274.7
296.7
284.9
250.1
368.8
220.9
248.0
306.6
233.8
221.2
244.2
285.6
281.0
300.5
291.0
245.1
374.9
232.5
238.2
321.8
223.9
224.9
242.5
294.5
314.9
306.9
313.0
291.9
396.6
240.6
222.5
340.5
222.4
214. 5
229.4
299.3
306.0
294.0
283.7
228.5
387.8
210.6
244.0
336. 3
220.0
211.8
248.7
272.5
321.5
301.0
297.8
264.7
390.5
224.8
223.9
351.8
215.7
210.7
229.3
286.9
389.7
302.5
301.0
282.3
383.0
231.1
258.8
345.5
218.1
209.0
244.9
295.4
' 258. 9
' 299. 8
' 299. 8
' 280. 8
' 377. 4
'236.5
r 257. 6
' 340. 1
' 220. 9
' 214. 8
' 256. 5
'290.3
271.5
305.4
292.4
250.3
368.9
241.7
266.7
332.0
220.7
214.2
251.5
297.1
345.4
256.1
229.9
361.1
348.8
246. 8
226. 3
367.1
349.3
244.3
221.2
366.3
368.2
269.6
226.0
368.7
356.3
258. 7
218.0
358.4
344.0
256.7
215.0
358.0
358.4
262.9
217.9
360.8
363.8
261.8
225. 6
368.1
328.5
232.3
212.1
358.8
342.2
255.8
223.1
365.6
346.7
269.4
235.4
361.9
' 350. 1
245.2
' 228. 1
' 356. 0
363.7
248.4
226. 7
368.3
187
157
180
152
190
152
191
153
187
152
163
151
161
155
182
165
191
175
213
189
285
214
223
209
190
207
49
21
55
23
53
23
53
22
53
21
49
19
51
21
52
20
53
20
54
20
52
20
49
18
47
17
51
42
7
51
42
7
51
41
8
50
42
8
51
42
7
52
39
9
50
40
10
49
42
9
48
42
10
48
43
9
50
42
8
49
42
9
48
42
10
'228
314
180
212
227
315
252
202
'193
199
'240
261
266
254
339
194
239
254
353
280
241
209
249
274
287
289
295
393
256
280
304
377
311
295
237
284
309
327
332
287
365
241
277
292
373
306
279
230
277
310
328
323
268
323
232
262
265
331
284
255
224
256
287
283
314
218
294
155
212
214
310
249
211
155
188
236
254
280
238
324
173
229
234
333
275
242
171
201
243
280
313
299
381
248
296
282
404
328
307
243
280
328
335
331
293
395
234
271
274
414
325
314
243
279
314
331
339
339
425
292
324
332
442
347
310
293
355
378
378
358
481
642
418
438
465
662
506
438
401
472
541
504
565
Food group
Grocery and combination.. _
Other food
Filling stations,-.
_ _ General-merchandise group
Department, including mail-order
Other retail stores
Chain stores and mail-order houses:!
Sales, estimated, total 9
_- _ do
Apparel group
do
Men's wear
_.do__ _
Women's wear_
_
do
Shoes
_-_
do__ _
Automotive parts and accessories.
do
Building materials
do
Drug
_ _
_ __ do
Eating and drinking places
do
Furniture and housefurnishings
do _
General-merchandise group
do
Department, dry goods, and general merchandise
mil. of dol
Mail-order (catalog sales)
__do
Variety
do
Grocery and combination _ _
do _
Indexes of sales :f
Unadjusted, combined index 9
1935-39= 100 __
Adjusted, combined
index 9
do
Apparel group d 1 -do__ _
Men's we arc?
do
Women's
wear cf .
do _ _
1
Shoesd
do
Automotive parts and accessories d1
do
Building materialscT
_ _
do
Drue
do
1
Eating and drinking placesd -- -1
do
Furniture and housefurnishingsd'
do
General-merchandise group d1
do
Department,1 dry goods, and general merchandised
1935-39=100
Mail-orderd" _ _
_
do
Variety d1
do
Grocery and combination
do
Department stores:
Accounts, collections, and sales by type of
payment:
Accounts receivable, end of month:
Charge accounts
1941 average — 100
Instalment accounts _ _ _ _ _ _ _ _
do - _
Ratio of collections to accounts receivable:
Charge accounts
percent- _
Instalment accounts _
________
do Sales by type of payment:
Cash sales
percent of total sales
Charge account sales
do
Instalment sales __
_ _
do _
Sales, unadjusted, total U. S
Atlanta - - - - - - - Boston
Chicago _
- _ _ _ _ __
Cleveland
Dallas
- - _ _ - _ _
Kansas City
Minneapolis
_
New York
Philadelphia Richmond
___
St Louis
__
_
San Franciscot- _ _
_
r
Revised.
*> Preliminary.
fSee note marked "f" on p. S-8.
1935-39=100-.
- do_
do
_ _
do
do
_
do
do
do
do
do
- ___ do
do
do __
9 Revised t eginning 1943.
C1
cfllevised be^,'inning 194 8.
216
285
' 185
205
'215
'313
^228
'188
183
'197
218
232
'251
JRe\ ised begin ning 1919; un publish 3d revision s are avail able upon request.
P224
322
204
217
327
*>244
211
182
207
234
252
»272
SURVEY OF CURKENT BUSINESS
S-10
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
April 1950
1950
1949
February
March
April
May
June
July
August
September
October
November
December
January February
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
Department stores— Continued
Sales, adjusted, total U. S4
AtlantaJ
Boston
ChicagoJ
Cleveland^
Dallas!
Kansas CityJ
1935-39=100..
do
_ do
do
do ._
do
do
'284
374
Minneapolis^
do
New York
_.
do
PhJiadelphiaJ
do
Richmond^
_ _
_ _
do
St. Louisdo
San Francisco t
- do
Stocks, total U. S., end of month:!
Unadjusted.
do _..
Adjusted
do
Mail-order and store sales:
Total sales, 2 companies
thous. of dol__
Montgomery Ward & Co
do _
Sears, Roebuck & Co
do
Rural sales of general merchandise: t
Total U. S., unadjusted
1935-39=100
East
do
South
_
_ _ d o __
Middle West
do
Far West.
_
_do
Total U. S., adjusted
_ _.
do
East
do
South
do
Middle West
do
Far West
_
do __
WHOLESALE TRADE
Service and limited-function wholesalers:!
Sales, estimated (unadj.), total
mil. of dol__
Durable-goods establishments
do
Nondurable-goods establishments
do
Inventories, estimated (unadj.), total
do
Durable-goods establishments
do
Nondurable-goods establishments
do
272
284
••394
311
365
208
266
279
392
301
293
389
251
277
301
374
314
'291
[376
243
275
295
384
309
285
368
242
262
281
385
309
280
377
227
258
274
387
304
283
360
234
276
269
374
299
289
367
241
282
279
374
312
276
376
211
258
259
387
301
••277
367
234
262
266
371
299
293
382
239
281
283
404
322
282
376
'244
274
290
'396
»301
*279
383
P230
262
271
409
*302
274
••233
265
••308
310
314
267
222
272
294
309
329
292
242
274
303
321
335
273
234
271
315
335
340
266
236
269
311
314
335
261
222
261
326
325
329
269
234
268
304
326
333
276
238
277
306
332
326
278
223
260
295
309
337
267
227
267
305
300
319
293
237
276
311
330
339
'246
229
267
300
282
'316
285
219
276
300
300
^322
265
r 277
287
••282
285
278
277
273
256
265
245
256
254
253
274
'263
297
270
305
273
244
271
244
272
*268
v 280
196, 656
68, 316
128, 340
258, 692
89, 179
169, 513
295, 754
101,110
194, 644
292, 936
100, 334
192, 602
284, 289
90, 678
193,611
240, 126
77, 005
163, 121
280, 233
95,517
184,716
316, 387
106, 735
209, 652
315, 329
112, 398
202, 931
327, 785
115, 727
212, 059
434, 472
150, 420
284, 053
202, 617
61, 458
141, 160
206, 104
63, 805
142, 299
237.0
218.1
278.4
219.8
233.5
283.2
254.2
302.6
274.8
312.6
260.5
248.8
290.4
251.1
268.2
261.3
248.8
305.7
264.3
298.0
278.4
265.7
302.5
264.8
290.0
290.9
267.3
329.5
271.3
310.2
272.4
264.0
287.7
262.6
283.2
303.7
294.0
347.0
296.4
316.1
260.1
244.1
273.1
251.5
300.0
293.2
281.2
333.5
274.6
331.5
209.1
183.1
228.2
202.9
249.9
283.7
274.1
326.5
271.6
306.2
263.5
235.9
289.4
250. 3
305. 4
287.4
269 0
322 3
270 3
313.2
317.3
285.3
354.6
305. 1
338.4
286. 9
275 1
311 6
283 6
295.8
318.4
278.7
384.0
297.6
352.1
266.2
232.2
300 5
253.3
313.3
369.4
371 7
445.2
345 5
363. 6
285 0
266 1
325 4
262 9
290 0
442.1
408.2
484.4
417. 1
509.9
312.2
282 5
350 3
281 1
325.2
212.7
191.8
241.6
203.0
231.1
281.0
253 0
302 0
270 7
314 0
229.0
207 9
270.7
208 4
237.5
273 6
242 3
294 2
260 5
317 9
5,234
1,615
3, 619
7,487
3,342
4,145
5,737
1,839
3,898
7,413
3,392
4,021
5,236
1,765
3,471
7,217
3,341
3,876
5,220
1,754
3,466
6,992
3, 222
3,770
5,247
1,735
3,512
6,854
3,092
3,762
4, 856
1,525
3,331
6. 839
2,970
3,869
5, 551
1, 737
3,814
6,873
2,848
4,025
5,851
1,843
4,008
7,002
2,820
4 182
5,769
1,842
3,927
7,007
2,736
4 271
5,904
1 762
4,142
7 019
2 733
4 286
5,685
1 688
3,997
6 888
2,757
4 131
5,165
1 457
3 708
6 984
2 849
4 135
5,021
1 583
3 438
7 057
2 908
4 149
234
'279
•
EMPLOYMENT AND POPULATION
POPULATION
Population, continental United States :§
Total, including armed forces
thousands..
Civilian population
_
do
148, 245
146, 731
148, 430
146, 921
148, 639
147, 145
148, 823
147, 354
149, 014
147, 546
149,215
147, 752
149,452
147,983
149, 703
148, 244
149, 947
148, 502
150, 183
148, 747
150, 397
148, 966
150, 604
149, 196
150, 808
149 442
109, 195
53, 689
55, 506
109, 290
53, 730
55, 560
109, 373
53, 764
55, 609
109, 458
53, 799
55, 659
109, 547
53, 837
55, 710
109,664
53, 898
55, 766
109, 760
53, 939
55, 821
109, 860
53, 984
55, 876
109, 975
54, 036
55, 939
110, 063
54, 075
55 988
110, 169
54, 121
56, 048
110, 256
54, 160
56, 096
110 344
54 196
56 148
do
do _ _
do
do
do
do __
do
do
do
do_ _
do
61, 896
1,508
60, 388
43, 229
17,159
57, 168
40, 812
16, 356
6,993
50, 174
3,221
62, 305
1,491
60, 814
43, 525
17, 289
57, 647
41, 092
16, 555
7, 393
50, 254
3,167
62, 327
1,492
60, 835
43, 668
17,167
57, 819
41, 463
16, 356
7,820
49, 999
3,016
63, 452
1,469
61, 983
43, 886
18, 097
58, 694
41, 521
17, 173
8,974
49, 720
3,289
64, 866
1,468
63, 398
44, 832
18. 566
59, 619
42, 233
17, 386
9, 696
49, 924
3,778
65, 278
1,463
63, 815
45, 267
18,548
59, 720
42, 422
17, 298
9, 647
50, 073
4,095
65, 105
1,468
63, 637
45, 163
18, 474
59, 947
42, 644
17, 303
8,507
51, 441
3,689
64, 222
1,459
62, 763
44, 319
18 444
59, 411
42, 085
17 326
8, 158
51, 254
3 351
64, 021
1,445
62, 576
43, 988
18 588
59, 001
41, 426
17, 575
7,710
51, 290
3,576
64, 363
1,436
62, 927
44 099
18 828
59 518
41 783
17 735
7 878
51 640
3 409
63,475
1,430
62, 045
43, 765
18 280
58, 556
41, 293
17 263
6,773
51, 783
3 489
62, 835
1,408
61,427
43, 715
17 712
56, 947
40, 453
16 494
6, 198
50 749
4 480
63, 003
1 366
61 637
43 769
17 868
56 953
40 343
16 610
6 223
50 730
4 684
do
47, 298
46, 985
47, 046
46, 006
44, 683
44, 385
44, 655
45 638
45 953
45 701
46 694
47 420
47 342
43, 061
14,649
7,923
6,726
986
101
80
455
42, 918
14, 475
7,819
6, 656
981
102
79
448
42, 966
14. 177
7,656
6,521
984
103
78
446
42, 731
13, 877
7,441
6,436
974
101
77
438
42, 835
13, 884
7,392
6, 492
968
100
77
431
42, 573
13, 757
7, 255
6,502
943
95
76
410
42, 994
14, H4
7,302
6,812
956
94
76
425
43, 466
14 312
7,409
6 903
948
92
76
421
42, 601
13, 892
6, 986
6,906
593
65
76
100
258
93
1,926
4,024
1,414
161
644
56
504
257
95
1,947
3, 975
1,370
160
644
55
505
259
97
2,036
3,991
1, 387
161
641
55
507
260
98
2,137
4,021
1,416
159
639
55
509
262
98
2,205
4,031
1,410
159
637
53
515
264
99
2,277
4,007
1,381
158
638
52
520
263
99
2 341
3,992
1,375
157
633
52
521
261
99
2 341
3,959
1,339
157
625
50
519
256
96
2 313
3, 871
1,257
156
619
49
514
EMPLOYMENT
Employment status of noninstitutional population:
Estimated number 14 years of age and over,
total _
___
thousands.
Male
do
Female
do
Total labor force, including armed forces
Armed forces
_
_._
Civilian labor force, total
Male
_ _
Female
Employed__ __ _
Male
_ _ _ _
Female
Agricultural employment
Nonagricultural employment
Unemployed
_
Not in labor force
Employees in nonagricultural establishments \\
Total, unadjusted (U. S. Dept. of Labor)
thousands __
Manufacturing
_ _ _ _ _
do
Durable-goods industries
do
Nondurable-goods industries
do
Mining, total
do
Metal
_ _
. _ __
do
Anthracite
do. _
Bituminous coal
do
Crude-petroleum and natural-gas production
thousands __
Nonmetallic mining and quarrying _ _ do
Contract construction
.
do
Transportation and public utilities
do
Interstate railroads
do
Local railways and bus lines
do
Telephone
do
Telegraph
. __
do
Gas and electric utilities
do
r
Revised.
' 42, 784 ' 43, 696 r 42, 158
' 14, 033 r 13 997
13 807
r
r 7, 300
«• 7, 050
7, 354
r g (543
*• 6 733
6 757
r 917
r §5§
' 940
' 92
83
91
76
77
76
r 407
r 350
' 424
r
r
255
96
2 244
3, 892
1 281
154
616
48
514
254
'94
252
154
612
48
153
608
47
512
v 41, 693
P 14 oiQ
" 7, 344
p 6 672
•p Q17
v 91
P 111
r gg
v 89
' 2 088 ' 1 914 •p i g29
' 3, 934
' 3, 873 * 3, 835
' 1 333
1 316
'513
t> Preliminary.
in the 1949 STATISTICAL SUPPLEMENT. The series on wholesale trade have been revised back to 1939; monthly figures for 1946-48 and annual data beginning 1939 are shown on pp. 18-20 of the
October 1949 SURVEY; unpublished revisions are available upon request.
§Data for 1947 and 1948 (shown in the 1949
STATISTICAL SUPPLEMENT) have been revised; revisions prior to August 1948 are available upon request.
fRevised series. See note marked "t" °n P- S-ll.
SURVEY OF CURRENT BUSINESS
April 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-ll
1950
1949
Febru-
ary
March
May
April
June
July
August
Septem-
ber
October
Novem-
ber
Decem-
ber
January
Febru-
ary
EMPLOYMENT AND POPULATION—Continued
BMP LO YM ENT— Continued
Employees in nonagricultural establishmentsf—
Continued
Unadjusted (U. S. Dept. of Labor)— Continued
Trade
thousands
Wholesale trade .
do
Retail trade
_ do _ _
General-merchandise stores
do
Food and liquor
do _
Automotive and accessories dealers. _. do
Finance
- do
Service
_ __
do
Hotels and lodging places
do
Laundries
do
Cleaning and dyeing plants
do
Government
do
9,292
2,541
6,751
1,386
1,184
647
1,735
4,712
447
346
142
5,737
9,310
2,523
6,787
1,411
1,193
648
1,749
4,720
445
346
144
5,761
9,478
2,504
6,974
1, 515
1,204
658
1,757
4,768
451
347
150
5,775
9,342
2,482
6,860
1, 434
1, 203
661
1,763
4,804
464
353
153
5,813
9,336
2,491
6,845
1,401
1,208
670
1,774
4,834
487
361
154
5,803
9,220
2,472
6,748
1,356
1,201
679
1,780
4,851
511
364
151
5,738
Total adjusted (Federal Reserve)
do
Manufacturing
__
__do_
Mining
do
Contract construction ._ _
_
__do
Transportation and public utilities
do
Trade
do
Finance
do
Service
do
Government
do
43, 657
14, 671
995
2,164
4,059
9,465
1,744
4,784
5,775
43, 445
14, 501
987
2,140
4,008
9,497
1,749
4,792
5,771
43, 263
14, 316
987
2,121
4,008
9,516
1,748
4,792
5,775
43, 027
14, 095
975
2,116
4,024
9,475
1,754
4,804
5,784
42, 896
14, 007
965
2,100
4,003
9,456
1,756
4,786
5,823
12, 074
6,523
23
11, 904
6,417
23
11,616
6,262
23
11,324
6, 057
21
655
380
278
429
110
1,077
659
385
274
423
107
1, 062
659
389
268
416
105
1,028
672
399
259
414
106
991
553
552
545
46
47
752
Production workers in manufacturing industries:!
Total (U S Dept of Labor)
thousands
Durable-goods industries _
do
Ordnance and accessories. __
do
Lumber and wood products (except furniture) _ _ _ _ _ _ thousands _
Sawmills and planing mills
do
Furniture and fixtures
do
Stone clay, and glass products
_ _ do
Glass and glass products
do
Primary metal industries _
do
Blast furnaces, steel works, and rolling
mills
thousands
Primary smelting and refining of nonferrous metals
thousands
Fabricated metal prod, (except ordnance, machinery, transportation equipment)- _thous
Heating apparatus (except electrical) and
plumbers' supplies
thousands
Machinery (except electrical)
do
Electrical machinery _ do
Transportation equipment
do
Automobiles
do
Aircraft and parts
do
Ship and boat building and repairs
do
Railroad equipment
do
Instruments and related products _ _ do
Miscellaneous mfg. industries
_ do
Nondurable-goods industries
do
Food and kindred products
_ do
Meat products
do
Dairy products
_
do
Canning and preserving
do
Bakery products
do
Beverages
do
Tobacco manufactures __
_do
Toxtile-mill products _ _
do
Broad-woven fabric mills
do
Knitting mills
_ _
do
Apparel and other finished textile products
thousands
Men's and boys' suits and coats, d o _ _
Men's and boys' furnishings and work
clothing
_ _
_
thousands
Women's outerwear _ __
do
Paper and allied products
do
Pulp, paper, and paperboard mills _-do
Printing, publishing, and allied industries
_ _ _ _ _ _
thousands
Newspapers
_
do
Commercial printing
do __
Chemicals and allied products
do
Industrial organic chemicals
__do
Drugs and medicines
do
Paints, pigments, and
fillers,.
do
Products of petroleum and coal
_ _do
Petroleum refining
_ _ do
Rubber products
do
Tires and inner tubes. __ _
_ _do
Leather and leather products
do
Footwear (except rubber)
do
Manufacturing production-worker exmployment
index, unadjusted (U. S. Dept. of Labor) f
1939=100..
Manufacturing production-worker employment
index, adjusted (Federal Reserve) f
1939= 100- _
' 9, 607
2,538
7,067
1,588
1,208
704
1, 767
' 4, 768
445
348
145
5,783
' 9, 266
' 2, 511
6,778
1,394
1, 183
708
' 1, 772
' 4, 701
428
347
141
5,777
p 9. 178
P 2, 491
f 6, 687
T 1, 385
* 1, 198
^700
* 1, 780
p 4, 696
9,213
2,515
6,698
1,337
1,181
688
1,780
4,836
504
358
144
5,763
9,409
2,538
6,871
1,432
1,192
692
1,771
4,833
475
356
147
5,893
9,505
2,554
6,951
1,489
1,200
696
1,767
4,794
451
350
147
5,866
42, 711
13, 917
939
2,128
3,968
9,368
1,755
4,777
5,846
42, 864
13, 979
949
2, 167
3,947
9,420
1,762
4,788
5,852
43, 068
14, 108
943
2, 188
3,939
9,453
1,780
4,785
5,872
42, 163
13, 706
591
2,203
3,877
9,386
1,785
4,770
5,845
' 42, 576 v 42, 275
' 42, 385 42, 712
' 13, 695 ' 13, 924 ' 14, 033 p 14, 041
^626
'864
^940
'917
P 2, 055
2,103
2,200
' 2, 131
P 3, 868
3,906
' 3, 895 ' 3, 934
p 9, 349
9 357
' 9, 303 ' 9, 424
r
p 1, 789
r 1, 787
1,781
1, 784
P 4, 768
4,748
' 4, 768 r 4, 761
P 5, 779
5,784
5,820
5,811
11, 337
6,022
21
11,211
5,894
19
11, 561
5,947
18
11,775
6,060
18
11, 368
5, 651
18
' 11, 289 ' 11, 502 ' 11, 460 P 11,475
p 5, 995
6,007
' 5, 719 ' 5, 957
17
»17
17
17
686
410
257
409
105
971
676
407
253
400
101
934
686
414
263
412
107
932
684
416
277
414
107
938
689
414
284
411
108
559
692
••413
283
411
108
'743
'683
404
289
'412
107
'952
534
523
506
498
499
131
'325
' 504
508
47
45
45
42
41
42
39
38
41
43
729
706
683
679
671
688
708
677
666
688
'693
112
1,133
607
1,021
649
190
100
72
185
363
108
1,108
585
1,017
646
192
98
72
183
354
103
1,066
560
1,012
649
192
93
69
181
343
97
1,014
538
955
601
187
92
67
177
333
94
977
518
995
646
187
88
66
176
333
92
939
505
1,014
670
192
86
59
170
313
100
927
507
998
678
185
80
47
169
347
935
531
1,017
686
191
74
56
172
366
no
116
922
548
986
666
188
69
53
174
383
113
908
546
898
582
184
r
71
'51
174
381
' 111
'929
' 558
'896
585
'184
69
50
173
'360
108
'936
'560
'990
687
185
66
46
'172
'345
5,551
1, 073
231
luO
108
189
145
88
1,190
582
214
5,487
1,069
226
103
110
185
149
85
1,150
558
211
5,354
1,071
217
108
125
186
140
82
1, 100
530
207
5,267
1, 095
221
115
131
188
148
82
1,087
526
202
5,315
1,153
226
122
169
192
152
84
1,083
525
203
5,317
1,224
227
122
220
191
169
82
1,057
518
200
5,614
1,350
229
116
339
194
165
91
1 092
530
211
5,715
1,340
230
110
322
196
157
94
1 132
547
219
5,717
1 273
236
104
232
199
149
92
1 168
565
227
1,055
139
1,051
137
1, 008
134
956
118
959
122
942
116
1,040
131
1,082
133
1 083
129
241
324
391
204
242
318
386
201
241
289
377
196
239
257
372
194
236
258
369
192
221
203
365
188
235
306
371
191
246
319
384
197
252
308
392
200
497
137
166
513
162
62
45
188
150
197
89
359
235
496
139
164
511
157
61
44
187
149
194
89
358
234
495
140
163
495
148
61
44
188
149
190
89
348
228
494
141
162
476
142
60
43
188
149
185
87
332
216
494
142
163
464
139
60
43
189
150
181
86
339
223
485
141
162
453
136
59
41
189
150
177
82
342
226
486
141
161
458
135
60
42
190
150
180
81
356
234
495
144
163
478
140
61
42
189
149
167
64
354
230
500
144
166
488
141
62
44
185
148
187
81
349
224
r 10, 154
' 2, 540
7,593
1,973
1,217
716
' 1, 769
r 4, 737
444
347
143
6,041
'642
381
289
403
106
'960
5,570
1,r 185
242
99
r
160
' 195
146
89
1, 184
572
230
' 5, 545
' 1, 139
'251
96
' 136
' 190
141
' 87
1,187
574
227
' 5, 453
' 1, 078
244
95
117
186
135
' 85
' 1,
028
r
118
'1,042
' 127
'1 036
129
r
T
251
280
393
201
500
145
165
485
143
62
44
r Igg
148
r 186
r
81
332
208
r
r 1 176
567
223
248
297
390
200
243
304
r 385
199
502
' 494
143
167
' 480
144
62
44
r 146
168
484
144
62
44
185
146
387
82
r 342
'223
r 184
145
' 187
83
348
232
147.4
145.3
141.8
138.2
138.4
136.9
141.1
143.7
138. 8
' 137. 8
' 140. 4
' 139. 9
147.6
145.6
143.4
140.8
139.9
138.9
139.6
141.3
136.6
' 136. 5
' 139. 0
' 140. 3
p 5, 742
*>636
P295
M03
^969
^701
P957
"576
P914
P173
^354
P 5, 480
P 1, 604
J»81
p 1 182
P223
P 1, 069
p 384
p 489
P 485
p 183
P 185
P 358
p 140. 1
p 140. 3
' Revised.
P Preliminary.
tRevised series. Beginning with the October 1949 SURVEY, the indicated series on employment, pay rolls, and hours and earnings have been revised to incorporate three major changes:
(1) adoption of the current Standard Industrial Classification for manufacturing industries; (2) reclassificatiqn of reporting establishments on the basis of major postwar product or activity;
(3) adjustment to 1947 bench-mark levels and a revision in estimating production-worker employment. Revised data on employees in nonagricultural establishments (unadjusted) by major
groups are shown on p. 24 of the November 1949 SURVEY. The Federal Reserve adjusted figures for the total nonagricultural and manufacturing employment and the adjusted indexes for
manufacturing production workers were further revised in the December 1949 SURVEY. All unpublished revisions are available upon request.
SUKVEY OF CURRENT BUSINESS
S-12
Unless other-wise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
April 1950
1950
1949
February
March
April
May
June
July
August
September
October
November
Decem
ber
January !
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT—Continued
Miscellaneous employment data:
Federal and State highways, total§
number-.
Construction (Federal and State)
do
Maintenance (State)
do
Federal civilian employees:
United States
thousands
District of Columbia
_
do
Railway employees (class I steam railways) :
Total
thousands- Indexes:
Unadjusted
-1935-39=100-Adjusted
do
203, 088
48, 744
109, 014
214, 405
59, 507
108, 618
238, 605
80, 881
111, 169
268, 525
106, 743
113,965
295, 071
124, 025
120, 469
314,414
137, 965
124,931
327, 536
146, 144
128, 631
320,842
143. 585
125,032
1,900
213
1,908
214
1,922
215
1,933
216
1,929
217
1,923
217
1,915
214
1,886
213
1,261
1,228
1,245
1,267
1,261
1,238
1,231
1,196
1,116
120.6
123.6
117.3
120.3
119.1
121.0
121.2
121.7
120.6
119.0
118.4
116.0
117.8
115.4
114.2
111 5
106.9
103.4
340.4
332.8
319.2
312.8
315.7
312.8
323.0
335 1
320.9
39.4
39.9
41.3
39.1
39.5
39.6
38.4
39.0
36.7
38.6
39.0
40.3
38.8
39.2
39.7
38.8
38.8
40.3
39.1
39.3
39.7
39 6
39.6
40.3
39.5
39.3
39.8
40.4
39.9
39.8
40.3
40.2
39.6
39.9
39.1
39.0
40.5
40.6
38.7
39.3
38. 2
38.4
41.1
41.1
38.5
39.6
39.1
38.0
40.7
40.7
39.0
39.4
38.9
37.6
39.4
39.3
38.6'
38.7
37.9
36.9
40.7
40.8
40.5
39.6
39.0
37.6
39.9
39.5
39.4
38.7
37.7
36.4
310, 606 ' 278, 309
137, 971 ' 107, 399
122,022
120, 798
1,846
211
1,835
211
240, 059
72, 406
117, 596
216, 806
51,409
115, 154
1,829
1213
' 1,
801
1
213
1,141
1.183
v 1, 177
p 1,162
109.2
108.2
'112.7
' 114.5
p 112. 5
p 117.0
p 110.1
v 112.8
' 313. 9
330.1
p 329. 7
39.7
39.9
40.3
'39. 1
' 39.0
40.2
'39.9
'40.1
40.7
'39.7
'40.0
40.2
p 39.7
MO.l
MO. 1
40 7
40.6
41 0
39.6
38 2
37.6
41.7
41.6
41.7
40.4
39.5
37.5
41.0
41.0
41.2
40.0
••39.2
'36.4
'41.3
'40.8
42.1
'40.3
39.7
39.4
39.3
38.4
'41.2
'40.0
39.6
'39.5
Ml. 8
MO. 4
37.6
37.1
34.0
'34.4
39.3
39.3
1, 801
i 213
PAY ROLLS
Manufacturing product ion- worker pay roll index,
unadjusted (U. S. Dept. of Labor) f 1939=100 LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor) :f
All manufacturing industries
hours
Durable-goods industries _
_do Ordnance and accessories
do
Lumber and 'wood products (except furniture)
hours
Sawmills and planing mills
..do .
Furniture and
fixtures
do
Stone, clay, and glass products _ _
__do . .
Glass and glass products
do
Primary metal industries
_.do _.
Blastfurnaces, steel works, and rolling mills
hours. ,
Primary smelting and refining of nonferrous
metals
_-hours .
Fabricated metal prod, (except ordnance, machinery, transportation equipment).. hours..
Heating apparatus (except electrical) and
plumbers' supplies
hours
Machinery (except electrical)
do
Electrical machinery.. _
do
Transportation equipment
do
Automobiles
do
Aircraft and parts
do
Ship and boat building and repairs do
Railroad equipment
do
Instruments and related products
do
Miscellaneous mfg. industries
do
Nondurable-goods industries
Food and kindred products
Meat products
Dairy products
Canning and preserving
Bakery products
Beverages
Tobacco manufactures _
Textile-mill products
Broad-woven fabric mills
Knitting mills
_
do
do
do
do
do
do
do
do
do
do
do
Apparel and other finished textile products
hours __
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
hours
Women's outerwear.. __
do
Paper and allied products
do
Pulp, paper, and paperboard mills do
Printing, publishing, and allied industries
hours. .
Newspapers
do
Commercial printing
do
Chemicals and allied products
.. do
Industrial organic chemicals
do
Drugs and medicines
do
Paints, pigments, and fillers _ _
do
Products of petroleum and coal
do
Petroleum refining.do
Rubber products
_ ..
.. do
Tires and inner tubes
_do..Leather and leather products
do
Footwear (except rubber)
do_ ..
MO. 1
40.8
41.0
41.3
40.7
40.5
39.1
39.4
39.6
40.7
39.4
40.3
41.4
39.7
39.5
38.7
39.0
39.2
39.3
39.6
40.2
40.1
'39.2
40.5
'40.3
37.2
40.4
39.6
39.8
39.5
41.2
38.5
40.7
39.8
40.3
37.6
39.9
39.1
38.6
37.7
40.7
38.9
39.9
39.7
40.2
36.6
39.1
38.5
38.7
38.6
39.4
38.2
38.6
39.3
39.0
37.1
39.2
38.8
38.2
37.3
40.5
38.1
39.2
39.5
39.0
37.3
39.2
39.0
39.5
39.4
40.5
38.4
39.0
39.2
39.4
37.7
39.0
38.7
39.9
40.3
39.9
38.4
37.7
39.0
39.0
39.5
39.1
39.1
39.7
39.8
40.2
37.3
38.4
39.0
38.9
40 3
39 3
40.0
40 1
40 4
40 6
37 7
38.1
39.5
40 2
41.4
39.2
40.4
39.1
39.0
40.5
36.4
38.5
39.8
40.7
40.0
'38.5
'40.0
'37.3
'36.2
41.5
34.8
'38.3
40.0
'40.9
40.5
39.7
'40.5
'38.8
'38.2
'41.2
38.1
38.7
40.1
'41.0
39.8
39.6
' 40. 5
'40.3
40.6
40.7
37.8
38.0
'39.7
40.3
38.8
41.3
41.2
45.0
38.2
42.1
40.3
35.4
37.7
37.8
36.3
38.6
40.9
40.3
44.4
37.2
41.4
40.8
36.1
37.2
36.8
36.5
37.6
40.6
39.9
44.6
36.5
42.0
40.9
34.7
35.7
35.2
35.1
38.1
41.3
40.7
45.2
37.4
42.1
41.8
35.7
35.4
34.6
35.3
38.5
41. 6
40.4
45.8
38.3
42.2
42.1
38.0
36.3
35.7
36.2
38.7
42.2
41.8
45.7
39.7
42.2
42.7
37.4
36.6
36.3
36.3
38.9
41.7
41.0
45.0
40.8
41.5
41.4
38.7
37.6
37.6
37.0
39.6
41.8
41 6
44 4
40 1
42 1
40 7
38.9
38 6
38 5
37 8
39.6
41.7
41.1
44.2
40.0
41.6
40.5
38.2
39.4
39.6
38.9
39.3
'41.6
'42.9
' 43.9
37.1
'41.4
' 40.1
38.0
39.5
39.8
38.4
39.5
41.5
'43.4
'44.0
36.6
41.3
39.7
38.2
39.8
40.3
37.6
39.3
'41.4
42.8
44.8
38.2
41.0
39.8
'38.0
'39.4
40.0
36.8
^39.4
MO. 6
36.2
36.5
36.3
36.7
34.4
34.5
35.5
34.2
35.4
33.3
35.4
33.4
35.7
33.5
36.8
35 4
36.5
34.3
35.7
'32.9
'36.0
34.7
' 36. 0
35.6
P36.S
35.6
35.8
41.2
42.0
36.4
35.4
41.0
41.7
35.2
33.4
40.3
41.2
36.1
35.0
40.4
41.1
35.8
34.6
40. 7
41.1
36.1
33.9
41.1
41.8
36.4
34.2
41.8
42.6
36 9
35.8
42 6
43 0
37.5
34.2
43.1
43.7
'36.8
'33.6
43.0
'43.6
36.7
34.6
42.8
43.6
36.0
34.9
'42.2
43.0
P42.4
38.6
37.1
39.6
41.0
39.9
40.6
40.7
39.9
39.9
37.7
35.4
37.7
37.3
38.6
37.1
39.6
40.9
39.4
40.7
40.5
40.0
40.0
37.0
35.8
37.5
37.2
38.4
37.6
39.3
40.6
38.8
40.1
41.1
40.1
39.8
36.9
35.4
35.8
35.1
38.7
37.8
39.7
40.7
39.2
40.4
40.7
40.7
40.5
37.7
36.3
35.1
34.0
38.7
37.4
40.0
40.8
39.2
40.2
41.2
40.2
39.9
38.2
36.6
36.5
36.0
38.6
37.1
39.8
40.6
39.3
40.0
40.9
40.7
40.4
38.4
36.6
37.0
36.8
38.5
36.8
39.6
40.5
39.2
40.0
41. 1
40.3
39.8
38.3
36.0
37.2
36.7
39.1
37 5
39 9
41.4
39 8
40 4
41 5
41.1
40.5
40 3
39 1
36 8
36 0
38.6
37.5
39.5
41.7
39.9
40.6
41.4
41.0
40.3
39.4
37.3
36.5
35.1
38.6
'37.2
39.3
41.5
40.0
40.7
41.0
40.0
'40.0
'38.4
36.9
35.1
33.3
39.4
38.3
40.3
41.6
40.3
' 40.6
'41.0
'39.9
39.7
'39.2
' 37.2
'37 1
'36.2
'38.4
36.3
40.0
'41.3
40.3
40.8
40.9
'40.8
40.8
'39.4
38.3
'37 7
37.3
«"35 7
35.7
'34.1
' 41 9
22 0
' 25. 5
42 7
23 9
24.7
40.0
'42.7
37 1
39.9
36.1
'40.0
'42.4
36 4
38 3
'35.8
41.7
41.2
35 3
37.0
34.8
Nonmanufacturing industries:
Mining:
42.4
43.3
42.6
42.2
39.4
40.6
39.5
40.1
Metal
do
39 6
34.1
30.6
23.4
26.1
25.0
35.0
23.4
39.2
\nthracite
- do
31 8
25.1
37.9
36.4
37.4
37.5
30.7
26.1
31.9
Bituminous coal . .
.do_ _ _
27 0
Crude-petroleum and natural-gas production:
Petroleum and natural- gas production
39.6
39.9
40.6
39.8
40.3
39.7
40.1
41.2
hours.
40.4
42.5
43.3
42.3
43.4
44.3
43.8
44.3
43.2
Nonmetallic mining and quarrying.
do
44.2
37.3
36.9
37.3
38.5
38.5
38.6
38.3
38 7
Contract construction
do
37 7
42 2
39.5
40.1
41.7
41.9
39.7
42.4
Nonbuilding construction
do
40.9
41.8
37.1
36.5
36.1
36.4
37.2
37.1
37.2
Building construction ._
do
36.5
36.9
' Revised.
» Preliminary.
1 Data include all of Fairfax County, Virginia, and Montgomery and Prince Georges Counties, Maryland.
§Total includes State engineering, supervisory,
and administrative employees not shown separately.
tRevised serioe. See note marked "f" on P- S-ll.
*39.6
f 40. 3
MO. 5
P 40. 5
p 38. 7
p 40.0
P40.4
p37. 1
P 39. 5
p 38. 2
P41.1
P40.7
p 40.0
p 38 3
SURVEY OF CURRENT BUSINESS
April 1050
Unless other-wise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-13
1950
1949
February
March
April
May
July
June
August
September
October
November
December
January
44.3
38.6
44.5
41.4
44.2
38.7
44.5
41.7
"44.1
38.8
43.7
'41.5
44.5
38.4
43.7
41.9
44.1
38.5
44.1
42.0
"40.8
40.5
07 Q
'40.3
'45.8
30.4
39.9
45.9
February
EMPLOYMENT AND POPULATION—Continued
LABOR CONDITIONS— Continued
Average weekly hours per worker, etc.f — Continued
Nonmanufacturing industries— Continued
Transportation and public utilities:
Local railways and bus lines
hours Telephone
do
Telegraph
_
do
Gas and electric utilities
do
Trade:
Wholesale trade
do
Retail trade:
General-merchandise stores
do
Food and liquor
do .._
Automotive and accessories dealers. __do
Service:
Hotels, year-round
do
Laundries
_. _ _ _do _ _
Cleaning and dyeing plants
do
Industrial disputes (strikes and lock-outs) :J
Beginning in month:
Work stoppages
number
Workers involved
thousands.
In effect during month:
Work stoppages
__. number
Workers involved
thousands
Man-days idle during month __
_ _
do
Percent of available working time
45.2
38.2
45.3
41.3
44.9
38.6
45.2
41.3
46.0
38.4
45.0
41.3
45.1
38.5
45.4
41.3
44.7
38.4
45.1
41.4
40.6
40.6
40.7
40.6
40.8
40.7
40.7
40.9
40.6
36.1
39.7
45.7
36.6
40.0
45.7
36.3
39.7
45.8
36.8
40.4
45.5
37.2
41.1
45.6
37.2
41.1
45.6
36.6
40.2
45.5
36.4
40.3
45.9
'36.3
40.1
'45.6
44.0
41.5
40.0
44.5
41.5
40.5
44.2
41.8
42.4
44.7
42.4
42.7
44.1
41.6
42.3
44.1
41.5
41.0
44.2
40. 8
39.5
44.1
41.2
41.7
44.2
41.1
41.1
44.0
40.9
40.9
43.9
41.2
41.0
43.8
41.5
41.4
'239
'289
^490
'360
' 449
'231
'377
'572
'343
'78
'365
'134
'287
'507
'256
'570
"•197
'170
225
'185
210
75
'369
'106
••436
'520
' 3, 46^
'643
'232
' 2, 140
'536
'603
' 6, 270
'323
'417
' 1, 350
340
300
2,600
.4
325
515
7, 850
1.27
45.1
38.6
44.5
41.4
45.2
38.3
44.7
41.5
40.5
36.3
40.0
45.5
675
.1
.5
160
'531
'208
' 1, 880
.3
'678
'309
' 3, 430
.5
'632
'673
' 4, 470
110
'603
'249
' 2, 350
.4
.6
.3
.9
'475
'977
' 17, 500
2.7
r
'57
'388
'914
' 6, 270
1.0
'46
9
U. S. Employment Service placement activities:
Nonagricultural placements
thousands
Unemployment compensation (Soc. Sec. Admin.):
Initial claims
thousands
Continued claims. _ _
do
Benefit payments:
Beneficiaries, weekly average.. ...
do
Amount of payments
thous. of dol
Veterans' unemployment allowances:
Initial claims
thousands
Continued claims
_
. _ . _ . . _ _
do.__
Claims filed during last week of month, ^do
Amount of payments
thous of dol
276
327
363
403
400
369
452
466
416
350
312
1,300
7,111
1,458
8,754
1,800
7,886
1,662
8,366
1,522
8,778
1,383
7,467
1,252
8,353
1,013
7,084
1,363
8,363
1,545
7,584
1,630
8,259
1,468
115, 268
1,786
152, 204
1, 598
136, 558
1,718
146, 712
1,809
154, 695
1,717
148,767
1,952
170, 629
1,744
154, 079
1,528
135, 707
1,698
152, 170
1,889
170, 580
2,080
186, 383
2,028
167, 212
2,551
647
47, 103
376
3,130
678
60, 766
299
2,608
592
50, 423
331
2,358
539
44, 618
446
2,486
586
45, 797
279
2,569
582
48, 939
52
936
31
385
31
265
29
268
113
24, 135
83
8,775
29
280
61
5,474
29
289
66
5,753
23
258
63
5. 069
Labor turn-over in manufacturing establishments:
Accession rate- monthly rate p er 100 employees
Separation rate, total
_
thousands
Discharges
do
Lay-offs
do
Quits _
- --__--.
- do...
Military and miscellaneous. _
do
2.9
4.1
.3
2.3
1.4
.1
3.0
4.8
3
2.8
1.6
.1
2.9
4.8
.2
2.8
1.7
.1
3.5
5.2
2
3.3
1.6
.1
4.4
4.3
.2
2.5
1.5
.1
3.5
3.8
.2
2.1
1.4
.1
4.4
4.0
3
1.8
1.8
.1
3.2
32
2
19
1.0
1
3.6
3.1
55.20
58.49
59.22
54.74
57.83
57.90
53.80
57.21
54.13
54.08
57.21
59.32
54.51
57.82
58.72
54.63
57.31
59.64
48.03
48.73
48.99
55.02
58.53
63.16
50.21
50.85
48.87
54.18
56.97
61.70
51.52
52.29
47.60
53.37
55.39
60.83
52.94
53. 76
47.59
53. 90
66.81
60.08
52.91
53.56
48.36
53.58
55.98
59.82
65.64
64.90
64.69
63.24
61.16
61.09
61.95
57.72
57.35
56.19
54.94
61.57
57.02
65.79
66.91
64.52
61.99
65.53
55.28
50.86
55.57
60.85
56.50
63.19
62.96
63.41
62.98
64.76
55.18
50.17
53.99
59.55
55.59
63.58
64.77
60.99
62.50
62.42
54.51
48.95
372
305
1, 725
' 9, 001
289
1, 240
8,069
62
5, 467
60
5,291
4.1
4.2
.2
1.8
2.1
.1
3.7
4.1
.2
2.3
1.5
.1
3.3
4.0
2
2.5
1.2
.1
54.70
57.89
58.44
55.72
58.69
59.76
55.26
58.17
59.97
' 54. 43
' 56. 82
57.82
' 56 18 ' 56. 33
' 59. 44
' 59. 15
' 60. 70
60. 85
P 56 37
v 59. 43
p 60. 11
50.75
51.25
47.86
52.94
55.22
58. 63
52. 87
53.53
49.69
54.17
56.08
59.45
52.83
53.35
50.72
54.73
55.89
60.42
54.17
54.54
51.42
55.51
57.04
58.35
' 52. 48
' 52. 89
50. 72
55. 28
' 57. 19
' 57. 48
' 52. 66 ' 48. 18
' 52. 31
47.65
52 46
' 5^.25
' 55. 65 ' 55. 5?
58.92
' 58 16
' 62. 88 ' 63. 83
p 49 90
62.21
59.88
61.33
62.07
55.90
' 56. 48
' 64. 65
61.05
60.71
59.00
58.39
59.24
59.87
58.43
59.64
62.35
56.67
57.39
57.61
58.13
59.25
58.51
' 56. 88
59.62
' 59. 93
54.61
59.70
55.99
63.03
63.22
62 98
61.61
63.39
54.83
48.83
54.72
59.94
56. 16
65.49
66.94
62 94
62.82
62.71
54.61
49.72
54.85
59.71
56.00
66.27
68.67
62 08
61.94
60 32
54.37
48.75
57.63
59 86
56.73
65 90
67 78
62 07
60.05
62 05
54.25
48 51
59.56
60 44
57.88
67 13
69 33
63 58
61.00
61 84
55.26
50 57
55.58
60 21
57.97
64 75
65 87
63 67
59.11
62 49
56.08
51 44
'
'
'
'
'
51.55
54 69
58.02
55 71
43.59
52 62
68 79
38 19
43 26
42 87
40.44
51 31
53 00
56*87
54 72
44.27
51 83
66 24
38 58
44 37
44 41
41.11
52 59
53 63
57 78
55 28
44.79
52 88
64 92
38 39
45 82
45 74
42.22
52 47
53 83
56 51
54 76
45.92
52 29
64 40
37 86
47 04
47 52
43^68
52 07
r 54 16
' 60 23
r 53 95
'41.29
r 52 12
r 63 60
38 46
' 47 20
47 76
' 43. 28
r
r
r
1.7
1.1
.1
WAGES
Average weekly earnings (U. S. Department of
Labor) : f
All manufacturing industries
dollars
Durable-goods industries _ . .
___ do - _
Ordnance and accessories . __ __ __ do
Lumber and wood products (except furniture)
__ . .
dollars
Sawmills and planing mills. . ... do
Furniture and
fixtures
do
Stone, clay, and glass products _. _ _ . do
Glass and glass products.
do
Primary metal industries,. ... .... do
Blast furnaces, steel works, and rolling
mills - _ _ _ -. _ _ -_
.. dollars
Primary smelting and refining of nonferrous
metals
_.
-dollars
Fabricated metal prod, (except ordnance, machinery, transportation equipment) . dollars ,
Heating apparatus (except electrical) and
plumbers' supplies
dollars
Machinery (except electrical)
do
Electrical machinery
_ _ _ _ __ do
Transportation equipment
do
Automobiles
. _
do
Aircraft and parts
do
Ship and boat building and repairs- do
Railroad equipment
do
Instruments and related products
do
Miscellaneous mfg. industries. ...
do _.
Nondurable-goods industries . . .
Food and kindred products
Meat products _ _ _ _ _ _
Dairy products
.
Canning and preserving
Bakery products
Beverages _
. Tobacco manufactures
Textile-mill products, _ _
Broad-woven fabric mills
Knitting mills
.do
do
..do .
do
do
do
_ do
do
do
. do _
do. _
51.33
51.07
50.41
49.67
50.97
53.07
52.33
53.44
52.80
53. 62
55.25
55.70
54.98
55.87
56.17
54.59
54.47
53.77
55.23
54.10
43.89
42.89
42. 63
43.65
43.07
51.28
50 34
52 29
51 07
51 61
61.54
62.75
62.29
64.54
65.59
34.94
36.21
35.15
38 57
36 27
45.01
44.19
42.20
41 91
42 98
44.83
43. 28
41.08
40. 52
42.09
41.09
41.39
39.87
40.73
40.07
' Revised.
* Preliminary.
fRevised series. See note marked "f" on p. S-ll.
i Revisions for January 1949: Disputes beginning in month—work stoppages, 274; workers involved
(thous.), 100; man-days idle (thous.) 726,
59 42
'60 35
' 61 22
61 26
' 58 44 ' 58 56
' 65 15 ' P-7 91
69 75
' 65 44
r 66 69
65 28
' 66 41
' 56. 97
61. 54
62 45
' 63 16 r 63 39
61 48
' 56. 52
' 57. 02
56.49
r
' 52 32 r 51 66
51 70
52 73
'54 70
r 54 34
' 43. 26
r 52 08
r 63 °8
38 93
47 64
' 48 40
' 42! 30
r
p 64 68
65.87
59. 32
59 21
57. 36
61 92
61 03
r 61 ()2
P 52 58
P 56. 24
r 52 82
r 55 02
60 22
56 04
45.19
52 15
64 00
' 3992
r 47 40
48 20
41.80
p 59. 72
•P 62 78
P58 77
P 64 16
•p 57. 04
P 51 55
P 53 27
P 53 96
P 39 "55
P 47 68
(thous.),17; disputes in effect during month—work stoppages, 382; workers involved
SUEVEY OF CUERENT BUSINESS
S-14
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
April 1950
1950
1949
February
March
April
May
June
July
August
September
October
November
December
January
February
EMPLOYMENT AND POPULATION—Continued
WAGES — Continued
Average weekly earningsi— Continued
All manufacturing industries— Continued
Nondurable-goods industries— Continued
Apparel and other finished textile products
dollars. .
Men's and boys' suits and coats
do. .
Men's and boys' furnishings and work
clothing
dollars. .
Women's outerwear
do
Paper and allied products
_ do
Pulp, paper, and paperboard mills. . do
Printing, publishing, and allied industries
dollars. .
Newspapers
__
. _ do _.
Commercial printing
do
Chemicals and allied products
_ . do _ _
Industrial organic chemicals
do
Drugs and medicines
_ _ do
Paints, pigments, and
fillers
do. _.
Products of petroleum and coal- _ _ . do
Petroleum refining
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products. _ _
do
Footwear (except rubber)
do
Nonmanufacturing industries:
Mining:
Metal. _
__ do
Anthracite
do
Bituminous coal
_
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars _
Nonmetalic mining and quarrying _ do
Contract construction.
._
do
Nonbuilding construction _ _ _ _ _
do
Building construction..
do
Transportation and public utilities:
Local railways and bus lines
do
Telephone
_
. _ _ _ _ _ do
Telegraph
do
Gas and electric utilities
do
Trade:
Wholesale trade _
do
Retail trade:
General-merchandise stores
do
Food and liquor
do___
Automotive and accessories dealers... do
Finance:
Banks and trust companies
do
Service:
Hotels, year-round
do_ __
Laundries
do
Cleaning and dyeing plants _
. do__ _
Average hourly earnings (U. S. Department of
Labor) :f
All manufacturing industries
dollars
Durable-goods industries
do
Ordnance and accessories
do
Lumber and wood products (except furniture)
dollars
Sawmills and planing mills
do .
Furniture and fixtures
_
__do
Stone, clay, and glass products
do
Glass and glass products
do
Primary metal industries
do
Blast furnaces, steel works, and rolling mills
dollars..
Primary smelting and refining of nonferrous
metals _ _ _
dollars
Fabricated metal prod, (except ordnance, machinery, transportation equipment) .dollars . .
Heating apparatus (except electrical) and
plum bers' supplies
dollars. _
Machinery (except electrical)
do
Electrical machinerv
__
do
Transportation equipment _
do
Automobiles
do
Aircraft and parts. _
.
do
Ship and boat building and repairs._.do
Railroad equipment
:
do
Instruments and related products
do
Miscellaneous mfg. industries
do
43.87
49.42
43. 41
50.13
39.53
46.30
39.94
46.00
40.11
43.86
41.03
44.93
41.95
44.96
44.01
47.90
42.63
46.20
' 40. 38
' 44. 48
' 42. 05
' 46. 88
32.89
53.84
54.84
58.72
33.82
51.68
54.45
58.17
32.49
45.42
53.48
57.35
33.36
45.61
53.73
57.58
32.76
46.33
54.54
57.95
33.03
48. 51
55.57
59.65
32.80
50.40
56.26
60.32
33.87
53. 13
57.64
61.06
34.35
49.49
58.36
62.10
' 33. 82
' 45. 80
58.31
' 62. 09
' 33. 73
r
49. 58
r
57. 99
' 62. 09
68.32
75.65
67.91
57.81
60.37
56.52
58.97
70.82
73.89
56. 55
60.99
42.83
41.07
69.56
76.72
69.26
57.51
59.69
56.37
58.81
70.92
74.00
55. 43
61.50
42.56
40.96
69.39
78.43
68.42
57. 45
59.17
55.78
59.92
71.26
73. 95
55. 50
60.92
40.74
38.68
70.40
80.02
69.51
58.20
60.09
56.68
59.22
72.12
75. 21
57.08
63.20
40. 05
37.37
70.47
78.73
70.80
59.08
60.56
56.28
59.90
71.84
74. 73
58.29
64.09
41.46
39.24
70.45
78.02
70.05
59.44
61.50
56.40
59.31
73.59
76.60
58.37
64.45
41.74
39.93
70.69
77.80
69.66
58.77
60.68
56.32
59.51
72.38
75. 10
57.72
62.32
42.00
40.04
72.02
80.14
70.22
59.66
62 33
56.96
60.88
74.47
77 11
61.01
69.95
41.99
39.74
71.22
80.06
69.84
59.51
62.20
57.16
60.90
74.09
76.13
59.57
64.83
41.72
38.61
' 70. 91
f 79. 05
r 69. 36
59.43
T
62. 44
36. 40
' 62. 87
' 57. 21
r
60. 80
f 71. 70
r
74. 76
r
59. 19
r
64. 80
r
42. 07
' 39. 20
64.74
47.97
73.56
66.16
46. 15
70.54
64.71
56.82
72.33
63. 72
63. 63
72.98
60.53
45. 28
59.90
58.75
66.08
47.94
58.18
42 80
49.51
58.96
59 24
52.46
59.63
75.81
63.10
' 52. 73
r
67. 94
f 68. 17
' 62. 81
' 42. 22
' 48. 93
65.03
44.60
47.62
70.37
54.36
69.96
68. 06
70.53
69.54
54.40
69.22
67. 25
69. 83
70.30
56.38
69.86
68.47
70. 33
71.78
58. 17
71.70
71.42
71.81
70.59
57.82
71.41
71.34
71.44
72.54
56. 77
71.55
72.20
71.28
70.74
57.86
72.13
72. 56
71.95
72.40
56.68
70.73
70.82
70.69
73.87
57.77
72.06
72.71
71.80
' 71. 20
' 55. 77
70.12
r
71. 20
' 54. 99
' 69. 75
68.15
r
70. 26
75.64
53.40
67.42
64.58
68.20
64.18
50.84
61.94
62.60
64.18
50. 82
62 31
62.54
64.64
50. 58
63 37
62.82
64.48
51.84
63 69
63.40
66. 01
51.46
62 96
63.64
65. 21
51.90
63.97
64.02
64.46
51. 57
63 64
63.92
64.55
52. 61
62 83
64.75
64.31
r 53. 29
62 97
65.72
64. 17
54. 40
62 05
65. 03
T
65. 28
52. 57
62 23
66. 24
65.22
56.82
56.88
57.12
57.83
57.49
58.18
57.10
57.35
58.36
57.86
r
58. 14
58.24
34.01
49. 12
57. 15
33. 68
48.87
58.18
34.26
49.08
59.50
34.85
48.99
60.00
35. 62
50.26
59.70
35. 86
51.13
59.83
35.75
51.00
59.55
35. 17
50. 57
59.51
34. 64
50.25
59.39
' 34. 30
' 50. 37
' 58. 78
' 35. 31
r
50. 54
r
58. 21
35.13
43.55
43.24
43.49
44.05
43.10
43.80
43 10
43.62
43 94
r 43. 96
43.96
45 17
32.47
34.90
39.32
32. 53
35 07
39.93
32. 35
35 24
42.15
32. 99
36 04
43.17
32.85
35. 32
42. 17
32.90
35 03
40.43
32 93
34 27
38 63
32.90
34 69
41.28
32 84
34 57
40 15
' 33. 13
r
3 4 23
r
39. 96
r
33 14
34 61
40 22
32 81
35 07
40 65
1.401
1.466
1.434
1.400
1 464
1 462
1.401
1.467
1 475
1.401
1 467
1 472
1.405
1 475
1 479
1.408
1.477
1.480
1 399
1 473
1 472
1.407
1 482
1 483
1.392
1 458
1 488
r
r
1.216
1.240
1.231
1.362
1.467
1.587
1 246
1.265
1. 234
1. 358
1.457
1.582
1 272
1.288
1.230
1. 358
1.450
1.584
1 288
1.308
1. 236
1.361
1.453
1.581
1 300
1.316
1.240
1.360
1.439
1.591
1.288
1.304
1.240
1.368
1. 457
1.589
1 299
1 312
1.230
1.368
1.438
1 581
1 298
1 314
1.237
1.382
1.463
1.607
1 299
1 311
1.233
1.374
1.444
1 556
r
280
1 275
r
1 282
290
.231
1.246
.382
1.381
r
.459
r 1. 465
' 1 579 r 1 596
1.645
1.643
1.642
1.634
1.650
1.645
1.631
1.673
1.644
1.642
* I. 645
1.499
1.490
1.500
1.500
1.499
1.489
1 482
1 496
1 471
1 483
1 480
1 506
1.454
1.452
1.452
1.453
1.464
1.466
1.468
1.474
1.459
1.451
1.472
' 1. 487
1.477
1.524
1.440
1.653
1 694
1. 566
1.610
1.610
1.389
1.262
1.478
1.525
1.445
1.637
1 670
1.558
1.619
1.623
1.390
1.248
1.475
1. 523
1.444
1.643
1 678
1.548
1.636
1.617
1.387
1.255
1.472
1.523
1.443
1. 650
1 695
1. 555
1.617
1.617
1.388
1.252
1.467
1.529
1.440
1 658
1 699
1.554
1.636
1.608
1.393
1.262
1. 455
1.530
1.447
1.661
1 704
1.607
1.013
1.600
1.394
1.250
1.459
1.531
1 451
1 660
1 703
1. 544
1.610
1.616
1.391
1.247
1.478
1. 538
1.447
1 674
1 716
1.566
1.618
1.623
1.399
1.258
1.479
1.536
1 435
1 656
1 689
1 572
1.624
1.623
1.409
1.264
1.323
1.294
1.380
1.205
1.167
1.226
1 544
1 016
1.184
1.171
1.135
1.324
1.289
1.383
1.206
1.113
1.239
1 558
1 015
1.184
1.179
1.125
1.332
1 296
1.388
1.219
1.098
1.247
1 611
1 021
1.182
1.181
1.114
1.319
1 271
1 387
1.216
1.085
1 249
1 600
997
1.180
1.181
1.111
1.328
1 283
1.389
1.245
1.117
1.256
1 595
987
1.187
1.188
1.117
1.325
1 291
1 375
1 239
1.148
1 257
1 590
991
1.194
1.200
1.123
1.323
Nondurable-goods industries
do
1.321
1.323
1.285
Food and kindred products
.do . _
1.289
1.291
Meat products
do
1.352
1.378
1.371
Dairy products
do
1.213
1. 213
1.211
1.180
Canning and preserving
do
1.149
1.153
Bakery products
do
1. 216
1.218
1.216
Beverages
do
1 527
1 523
1 538
Tobacco manufactures
_ _ _
do
.987
1 013
1 003
Textile-mill products
do
1.194
1.182
1.188
Broad -woven fabric mills
..do
1.186
1.176
1.167
Knitting mills
do
1.132
1.136
1.134
'Revised.
Preliminary.
fRevised series. See note marked "f" on p. S-ll.
r
r 57. 51
r 60. 43
r 72. 12
' 75. 44
' 57. 91
' 63. 91
r
40.08
69.90
70.21
r
r
r
r
r
1 392
1 457
1 488
686
1 607
1 637
' 1. 649
' 1.413
' 1. 264
r
.325
302
407
r
229
' 70. 43
v 70. 67
59.78
' 59. 97
63.51
57. 57
r
r
r
r
1. 408
1 475
1 495
r I
7]3
r
1 612
1 639
r
1. 638
1.422
' 1. 276
1.335
r I 318
r 1 4Q6
r I 235
' .113
r
r
r I 261
r i 504
r 1 019
259
586
012
' .195
1.200
' 1. 127
33.44
' 72. 54
' 82. 15
' 71. 13
' 1. 483
' 1. 490
1.538
1. 543
' 1 434 •• 1 443
r i 579
r 1 660
r I
P 44. 93
" 57. 75
r
r
48.45
51.09
57. 52
61.49
r
r
' 42. 84
r
r
1. 182
1.197
1. 201
1. 125
r
76.27
70.80
* 60. 13
'61.02
' 73. 97
77.56
' 60. 56
T
67.60
42. 86
40.69
*>73 22
"61.48
p 44 16
53.21
62 84
66.78
50.63
59.17
r
r 1 486
r \ 51Q
v i 420
•p i 482
P ^ 499
r 1 226
P i 260
r
1 419
1 241
1. 244
1. 388
1.488
1 616
P i 258
p 1. 392
P i 613
1.676
1.493
' 1. 546
r i 446
r I 685
1 71 8
r
1 604
1 628
1.618
1. 423
'1.282
' 1. 344
r j 329
P 1. 482
P 1. 550
p
1 451
P 1 fi^S
-.
-. —
P 1.426
^ 1. 276
v 1. 352
P 1 Q9Q
1 407
1 251
1.183
1 272
' 1. 203
1.205
1.136
p 1. 207
NOTE FOR FEDERAL EXPENDITURES, p. S-16.— Revisions (for June 1948-January 1949, respectively) to include expenditures from the Foreign Economic Committee Trust Fund are as
follows (mil. of dol.): Total expenditures— 4,018; 3,741; 2,335; 3,066; 2,911; 3,163; 4,102; 3,205; all other expenditures— 1,019; 1,512; 882; 1,294; 1,278; 1,465; 1,419; 1 316. Formerly, the entire
fund of $3 billion was reported as expended in June 1948.
SUKVEY OF CURRENT BUSINESS
April 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-15
1950
1949
February
March
April
May
June
July
August
September
October
November
December
January
' 1. 190
1.361
February
EMPLOYMENT AND POPULATION—Continued
WAGES— Continued
Average hourly earnings, etc. f— Continued
All manufacturing industries — Continued
Nondurable-goods industries— Continued
Apparel and other finished textile products
dollars..
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
dollars
Women's outerwear
do
Paper and allied products
do
Pulp paper and paperboard mills do
Printing, publishing, and allied industries
dollars. _
Newspapers
do
Commercial printing
do
Chemicals and allied products
do. _ _
Industrial organic chemicals
do
Drugs and medicines- _ _
do
Paints, pigments, and
fillers
do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products
do
Footwear (except rubber)
do
Nonmanufacturing industries:
Mining:
Metal
-.
do ...
Anthracite
do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars ..
Nonmetallic mining and quarrying
do
Contract construction . _
do._
Nonbuilding construction
do
Building construction
do
Transportation and public utilities:
Local railways and bus lines
do
Telephone
..
do
Telegraph
__
__ __ __ do ..
Gas and electric utilities
do
Trade:
Wholesale trade . . . __ _ _
do
Retail trade:
General-merchandise stores
do Food and liquor
_do
Automotive and accessories dealers do
Service:
Hotels, year-round
do
Laundries
__
do
Cleaning and dyeing plants
__
_.do
Miscellaneous wage data:
Construction wage rates (E. N. R.):§
Common labor
dol. per hr__
Skilled labor
._
_ do _.
Farm wage rates, without board or room (quarterly)*
_.
_ - _ - - - - dol. p e r h r
Railway wages (average, class I) _ __ _ do . „_
Road-building wages, common labor _. __ do
1.212
1.354
1.196
1.366
1.149
1.342
1.125
1.345
1.133
1.317
1.159
1.306
1.175
1.342
1.196
1.353
1.168
3.347
'1.131
' 1. 352
' 1. 168
' 1. 351
.924
1. 504
1.331
1.398
.929
1.460
1.328
1.395
.923
1.360
1.327
1.392
.924
1. 303
1.330
1.401
.915
1.339
1.340
1.410
.915
1.431
1.352
1.427
.901
1.465
1.346
1.416
.918
1.484
1.353
1.420
.916
1.447
1.354
1.421
'.919
1.363
1.356
' 1. 424
'.919
' 1. 433
1.770
2.039
1.715
1.410
1.513
1.392
1.449
1.775
1.852
1.500
1.723
1.136
1.101
1.802
2.068
1.749
1.406
1.515
1.385
1. 452
1.773
1.850
1.498
1.718
1. 135
1.101
1.807
2.086
1.741
1.415
1.525
1.391
1.458
1.777
1.858
1. 504
1.721
1.138
1.102
1.819
2.117
1.751
1. 430
1. 533
1.403
1.455
1.772
1.857
1.514
1.741
1.141
1.099
1.821
2.105
1.770
1.448
1.545
1.400
1.454
1.787
1. 873
1.526
1.751
1.136
1.090
1.825
2.103
1.760
1. 464
1.565
1.410
1.450
1.808
1.896
1. 520
1.761
1.128
1.085
1.836
2.114
1.759
1.451
1. 548
1.408
1.448
1.796
1.887
1.507
1.731
1.129
1.091
1.842
2.137
1.760
1.441
1.566
1.410
1. 467
1.812
1.904
1.514
1.789
1.141
1.104
1.845
2.135
1.768
1.427
1.559
1.408
1.471
1.807
1.889
1.512
1.738
1.143
1.100
'1.837
' 2. 125
1.765
1.432
r
1. 561
r
1.413
' 1.474
' 1. 803
r
1.886
1. 508
r
1. 732
1.142
r
1. 093
' 1. 841
' 2. ] 45
' 1.765
1.437
' 1. 560
1.409
r
1. 483
' 1. 797
' 1. 883
1.527
1.838
1.941
1.528
1.846
1.938
1.519
1.857
1.934
1.510
1.866
1.946
1.491
1.935
1.951
1.491
1.888
1.910
1.473
1.829
1.897
1.489
1.863
1.943
1.487
1.934
1.978
r
1. 477
' 1. 903
1. 999
'1.499
'1.919
' 1. 919
1.523
1. 866
1.928
r
r
T
'1.355
' 1. 424
'1.510
r 1.742
1. 134
1.083
.929
1.464
1.363
1.430
' 1. 834
2.101
1.770
' 1. 452
1. 576
1.411
1.492
' 1. 813
1.901
' 1. 537
1. 765
1.137
1.091
1.768
1.285
1.877
1.714
1.930
1.756
1.280
1.875
1.703
1.933
1.762
1.302
1.872
1.709
1.934
1.768
1.313
1.864
1.712
1.930
1.778
1.320
1.856
1.704
1.924
1.800
1.308
1. 856
1.712
1.922
1.764
1.306
1.862
1.712
1.932
1.792
1.312
1.874
1. 730
1.938
1.793
1.307
1.881
1.741
1.944
r
r
1. 780
1.306
1.891
1.754
1.947
' 1. 780
' 1. 297
' 1,917
1.777
' 1.964
1.814
1. 296
1.912
1. 745
1.960
1.423
1.317
1.392
1.512
1.420
1.327
1.394
1.507
1.430
1.324
1.399
1.521
1.436
1. 343
1.409
1. 535
1.435
1.340
1.399
1.541
1.446
1.348
1.409
1.550
1.442
1.343
1.411
1.544
1.457
1.363
1.412
1.564
1.455
1.377
1.415
1.576
1.455
r
1.402
' 1.420
'1.567
' 1. 467
' 1.3G9
1.424
1.581
1.479
1. 382
1.425
1.590
1.403
1.401
1.407
1.421
1.416
1.426
1.403
1.409
1.427
1.425
' 1. 425
1.438
.968
1.244
1.312
.964
1.244
1.312
.961
1.244
1.306
.961
1 258
1.308
.952
1.247
1.294
r
'.934
r l 254
r 1 . 271
. 965
1. 269
1.289
.937
1.228
1.256
.933
1.231
1.273
.936
1.227
1.302
.960
1.234
1.310
.738
.841
.983
.731
.845
.986
.732
.843
.994
.738
.850
1.011
.745
.849
.997
.746
.844
.986
.745
.840
.978
.746
.842
.990
o743
.841
.977
'.753
'.837
r
. 755
' 840
'.981
1.417
2.353
1.424
' 2. 377
1. 428 ~
2.378
1.431
2. 384
1.441
2.394
1.465
2.412
1.470
2.434
1.478
2.453
1.478
2.458
1.478
2.462
1.478
2 462
2.462
1.370
1.337
1.389
1.375
1. 392
1.16
1.373
1.565
1.562
1.17
1. 569
1.572
. 75
1.574
1.17
194
211
189
230
207
265
215
278
251
278
272
257
280
258
261
2
590
1,791
951
890
62
281
2
559
r
.71
1.380
1.06
.74
.945
r 1 256
1.289
.64
» 1. 221
P 1. 362
P 1. 850
v 1.463
•P 1. 799
v 1. 537
P 1. 153
.749
.845
.982
1. 485
1. 485
2. 466
FINANCE
BANKING
Acceptances and commercial paper outstanding:
Bankers' acceptances
mil. of doLCommercial paper
do
Agricultural loans outstanding of agencies supervised by the Farm Credit Administration:
Total
mil. of doL_
Farm mortgage loans, total .
_ _ do- _
Federal land banks
_
do
Land Bank Commissioner
do
Loans to cooperatives .
_ _ do_ .
Short-term credit
_
_ d o _
228
268
204
249
215
257
0)
(1)
(1)
1,710
936
(0
289
70
270
466
504
866
198
199
195
219
(0
(1)
0)
(1)
(1)
1,786
946
0)
0)
65
250
591
0)
262
2537
2
252
565
880
2
(0
(0
(i)
0)
258
2
600
0)
(0
(1)
0)
0)
(1)
0)
(1)
0)
0)
(1)
306
2 506
(1)
313
2 471
Bank debits, total (141 centers)
do
98, 335
89, 206
80, 180
88, 969
98, 276
88, 353
88, 536
90, 257
90, 747
88, 588
New York City
do
36 467
35 832
31 982
39 698
36 974
42 890
36 070
37 191
36 334
35 249
Outside New York City
_ ...
do
58 637
53 374
48, 198
51 995
55 386
52 466
51,886
53 066
54 413
53 339
Federal Reserve banks, condition, end of month:
Assets, total
mil. of dol__
47, 396
44,192
48, 051
45, 483
44, 937
48, 448
45, 502
44, 272
44, 323
43, 513
Reserve bank credit outstanding, total. _.do
22, 267
21, 737
20, 092
22, 855
18, 225
19, 239
19, 696
18,415
18, 267
17, 860
Discounts and advances _ _ _
do 303
531
246
317
251
247
103
322
109
283
United States Government securities. -_do
21,688
22, 342
19, 704
21, 094
19, 343
17, 524
18, 529
17, 682
18,010
17,316
Gold certificate reserves
_ _ _ do
23 077
23 099
23, 045
23 116
23 245
23 362
23 285
23 232
23 350
23 320
Liabilities, total
_-do
48 051
47 396
44 937
44 192
48 448
45 502
45 483
44 323
44 272
43 513
Deposits, total _.
_
do
21 754
21 304
19 582
22 235
18 968
19 246
18 036
18 173
17 632
17 793
Member-bank reserve balances
do _
16 512
19, 118
19, 076
17 437
19, 617
18, 024
17, 867
15 947
16 038
15 850
Excess reserves (estimated)
do
686
638
752
808
794
948
1 175
771
589
671
Federal Reserve notes in circulation
do
23, 383
23, 327
23, 528
23, 346
23, 373
23, 305
23, 273
23, 278
23,373
23, 247
Reserve ratio
percent..
55.1
50.4
51.8
54.5
56.6
51.1
53.8
56.3
56.4
57.0
' Revised.
*» Preliminary.
1 Beginning July 1, 1948, farm mortgage loan data are reported quarterly.
2
In accordance with Public Law 38,81st Congress, the Regional Agricultural Credit Corporation of Washington, D. C., was dissolved and as of April 16,1949, its
Farmers Home Administration.
fRevised series. See note marked "f" on p. S-ll.
§Rate as of April 1, 1950: Common labor, $1.493; skilled labor, $2.478.
*New series. Comparable data prior to January 1948 are not available.
1,712
956
899
57
306
2 450
256
257
0)
(1)
0)
o294
0)
(1)
0)
(i)
2 453
279
2 47(3
106, 274
45 781
60 493
95, 336
38 962
56 374
86, 273
35 727
50 546
45, 643
19, 499
78
18, 885
23 176
45 643
18 906
16 568
1 018
23, 483
54.7
44, 194
18, 326
145
17, 827
23 168
44 194
18 348
16 °11
44, 097
18, 226
130
17, 746
23 120
44 097
18 064
15 973
v 587
22, 974
56.3
r gQg
22, 926
56.1
assets were transferred to the
SUEVEY OF CUEEENT BUSINESS
S-16
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
April 1950
1950
1949
February
March
April
May
June
July
August
September
October
November
December
January
February
FINANCE—Continued
BANKING— Continued
Federal Reserve weekly reporting member banks,
condition, Wednesday nearest end of month:
Deposits.
Demand adjusted
mil of dol
Demand, except interbank:
Individuals, partnerships, and corporations
mil. of doL .
States and political subdivisions
do
United States Government
__do._
Time, except interbank, total
do
Individuals, partnerships, and corporations
mil. of dol..
States and political subdivisions. _. _ do_.
Tnterbank (demand and time) do
Investments, total _
_ _ _ _ _ -do___
U. S. Government obligations, direct and
guaranteed, total
_
mil. of dol
Bills
do
Certificates
do
Bonds and guaranteed obligations
do
Notes
-do
Other securities
do
Loans, total
do
Commercial, industrial, and agricultural. do
To brokers and dealers in securities
-do
Other loans for purchasing or carrying securities
mil. of dol__
Real-estate loans
_ _ _ -do
Loans of banks
do
Other loans
_
do
Money and interest rates re?
Bank rates to customers:!
T 7 th
tb
rt
t
<t~
d
46.112
44, 909
46, 175
46, 364
46. 093
46, 282
46, 737
46, 457
46, 848
47, 648
48, 253
47, 767
46, 926
46,014
3.418
1,706
15, 132
44,341
3, 588
2,095
15,151
45, 737
3, 548
1,188
15, 226
46, 128
3, 683
790
15, 283
45,805
45, 685
3, 432
1,591
15, 282
46, 416
3, 367
2,196
15, 270
46, 465
3,165
2, 636
15, 255
46, 867
1,955
15, 288
47, 600
3, 456
2, 322
15, 333
47, 193
15, 228
48, 037
3, 255
2,117
15, 162
48, 857
3,361
1, 356
15, 375
14. 452
593
10, 163
37, 359
14, 458
602
9, 364
36, 137
14, 485
648
9,203
36, 945
14,513
14, 596
664
9, 526
38, 699
14, 520
641
10, 032
40, 637
14, 502
647
10, 095
42, 288
14, 501
632
10, 065
42, 064
14, 500
605
10, 687
42, 341
14, 431
608
10, 305
42, 226
14, 537
621
10, 729
42, 527
14, 578
627
r 10, 394
42, 780
14, 647
609
10, 415
42, 090
33, 069
2,000
5,048
24,992
1,029
4,290
24, 617
15,147
947
31, 750
1,063
4,624
25, 136
927
4,387
25,034
14, 904
1,548
32,951
1,827
4,712
25, 458
954
4,354
24, 010
14,162
1,328
34, 035
2, 105
5, 225
25, 734
971
34, 149
1, 793
35, 773
37, 307
37, 004
2,608
37, 388
2,618
37, 248
37, 469
26, 347
1,150
4, 953
24, 325
13, 694
1,618
6, 856
24, 637
1,955
7,181
26, 091
1,124
5, 060
23, 998
13. 384
1, 668
7, 257
26, 470
1.176
4, 550
23, 883
5, 716
26, 394
1, 060
4, 864
23, 159
12, 826
1,520
24, 613
13, 775
1,623
24, 894
13, 904
1,608
37, 595
2, 762
6, 152
24, 796
3, 885
5, 185
' 24, 786
13, 918
' 1. 364
36, 774
2,212
5, 075
24, 862
4, 625
5, 316
24, 741
13, 834
1,529
630
4,082
266
3,837
638
4,083
308
3,851
617
4,078
263
3,863
628
657
4,118
663
4,143
573
4, 396
154
570
4,413
302
1.50
4.08
2.02
2 42
2 68
3 12
1.50
4.08
2.02
1.19
1.56
1.63
1.63
667
9, 703
38, 525
4,490
23, 811
13, 476
1,678
4,092
333
5,274
26,132
950
13,181
292
3,904
3,981
1.50
4.08
2.04
1.50
4.08
2.04
2 35
2.86
3.17
1.50
4.08
2.04
1.19
1.56
1.63
1.63
1.19
1.56
1.63
1.63
1.19
1.56
1.63
1.63
1.163
1.57
1.162
1.54
1.155
1.53
10, 446
3,333
10. 518
3,327
Total consumer credit, end of month. ..mil. of dol._
Instalment credit total
do
Sale credit total
__do.Automobile dealers
do
Department stores and mail-order houses
mil. of doL.
Furniture stores
_ _ _ __do. _
Household -appliance stores
do
Jewelry stores
do
All other retail stores
do
15, 325
8,339
4,306
1,996
Cash loans total
do
Commercial banks
do
Credit unions
. _ _ _ _ _ - . _ __do
Industrial banks
_ _ _ do__
Industrial-loan companies
do
Insured repair and modernization loans
mil. of doLSmall -loan companies
_
do _
Miscellaneous lenders
do
T
11
th
rl
t n
t'p
dr>
Discount rate (N Y F R Bank)
do
Federal land bank loans
_do_ _
Federal intermediate credit bank loans
do
Open market rates, New York City:
Acceptances prime bankers', 90 davs
do
Commercial paper, prime, 4-6 months do _ _
Time loans 90 davs (N Y S E.)
do
Call loans, renewal (N. Y. S. E) .
do
Yield on U. S. Govt. securities:
3-month bills
- do __
3-5 year taxable issues
do
Savings deposits, balance to credit of depositors:
New York State savings banks
mil. of dol_.
U. S postal savings
- - do -_
3,260
6,392
2,603
26, 536
1,119
4,981
23, 491
12,965
1,609
665
4,185
273
264
4,049
638
4,207
233
3,299
2,335
2,345
7,273
4,978
626
597
4,246
207
4,266
3,296
2,544
3,432
5,058
599
4,299
4,342
4,393
4,445
1.50
4.08
2.00
2 29
2.55
3.12
1.50
4.08
2.00
1.06
1.31
1.63
1.63
1.06
1.31
1.63
1.63
1.100
1.39
1.130
i 1.44
214
319
4,102
4,178
1.50
4.08
2.04
1.50
4.08
2.04
2 32
2.64
3.07
1.50
4.08
2.04
1.50
4.08
2.04
1.50
4.08
2.04
2 38
2.67
3.03
1.50
4.08
2.04
1.19
1.56
1.63
1.63
1.06
1.56
1.63
1.63
1.06
1.44
1.63
1.63
1.06
1.38
1.63
1.63
1.06
1.38
1.63
1.63
1.06
1.38
1.63
1.63
1.06
1.31
1.63
1.63
1.156
1.49
1. 158
1.42
.990
1.26
1.027
1.26
1.062
1.34
1.044
i 1.38
1.073
U.37
1.097
i 1.37
10, 550
3,314
10, 600
10, 718
10, 753
10, 786
10, 830
' 3, 230
10, 860
r 3, 215
10, 296
3,199
11, 087
3,182
15, 335
8,429
4,364
2,105
15, 595
8,630
4,517
2,241
15, 843
17,815
r 18, 779
4,718
2, 386
4,870
2,499
778
685
353
130
364
756
675
348
124
356
760
683
351
123
359
771
704
367
123
367
774
718
4,033
1,695
308
201
159
4, 065
1,720
315
203
161
4, 113
1,749
323
207
163
734
806
130
729
807
130
3,169
2,865
952
215
44
28
25
109
3,294
3,277
3,266
3,248
16, 198
16, 453
3,454
2,302
15, 377
4,455
1
11,179
4,470
11,237
' 3, 183
p 3, 175
v 18, 347
v 10, 839
v 6, 174
v 3, 179
p 18, 126
P 10, 892
p 6, 207
p 3, 258
CONSUMER CREDIT
Charge accounts
Single-payment loans
Service credit
_
-
do
do _ _
do __
Consumer instalment loans made during the month,
by principal lending institutions:
Commercial banks
mil. of dol
Credit unions
do _
Industrial banks
- __.
do
Industrial-loan companies
do
Small-loan companies
do
8,888
16, 124
9,123
9,335
5,010
2,610
9,622
5,223
r r16, 803
9, 899
5, 438
r 17, 223
2,876
781
755
818
784
2,761
766
730
382
124
373
405
121
378
417
121
388
4,170
1,788
333
213
165
4, 253
1,836
4,325
4,399
357
225
169
369
230
171
727
815
131
722
818
131
726
827
732
843
133
134
3,121
2,816
969
3,232
2,764
969
3,235
2,739
3,123
981
3,274
2,752
975
287
58
36
30
142
278
58
33
29
146
288
60
35
28
135
303
68
38
28
140
346
219
167
132
1,897
1,866
435
121
404
' 4, 461
1,922
r 10, 166
r
r
10, 441
r 10, 890
2,986
5,880
6,240
3, 085
3,144
855
822
906
858
464
127
440
1,010
935
500
163\
^975
p902
>• 4, 561
1,944
394
244
173
r 4, 650
1, 951
402
250
175
5,661
454
123
421
' 4, 505
1,936
488J
379
235
172
385
239
172
'747
851
'763
855
r 780
858
r 794
875
137
'801
929
142
3,123
3,197
2,768
972
3,064
2,799
968
3,454
2,927
3,909
2,987
993
r992
282
59
35
28
155
294
66
37
29
143
278
65
34
27
128
269
64
36
28
161
280
69
41
31
232
135
2,808
973
135
2,866
994
272
59
34
26
134
p 957
?491
p889
P488
fi^7
p gjr
v 4, 605
v 1, 957
v 4. 685
P 1,970
T 251
v 175
"254
p 174
r>
?404
P408
*>805
P809
P928
* 3, 506
P 3, 002
"997
P 3, 227
P 3, 007
P 1, 000
*269
P264
"931
v 142
*59
*37
*27
»131
P 142
"61
p34
p 25
"126
FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures:
1,993
2,751
4,928
4,885
4,255
6,133
2,306
2,061
3,480
2,727
3,607
2,917
3,935
Receipts total
- - mil. of dol
1,945
1,340
4,767
4, 832
1,881
2,344
4,191
5, 435
3, 366
2,479
1,946
2,972
3,381
Receipts net
do
35
28
28
25
29
33
37
34
35
35
32
37
29
Customs
-- do - _
1,544
3,819
2, 545
1,060
3,214
1,308
3,893
1,209
2,342
1,568
1,489
2,690
5, 100
Income and profits taxes
do
65
410
137
144
139
81
65
67
544
356
404
168
438
Employment taxes
do
644
656
704
645
753
722
653
714
749
720
720
599
654
Miscellaneous internal revenue
do
79
240
114 r
111
101
186
124
122
244
110
147
165
88
All other receipts
do. _ _
2
r
2
3,
104
2
4,
656
'
2
3,
151
r
2
2,
972
3,995
3,111
3,722
3,434
3,
323
'
3,
651
2,496
3,585
3,
127
Expenditures, total
do
3 463
255
3 1, 008
125
1,570
322
544
178
3161
125
3306
141
589
Interest on public debt
- -do
614
502
489
525
494
516
548
502
522
859
640
547
547
Veterans Administration
do
1,043
950
1, 159 ' r4 1, 040 *r 1, 173 r 4 1, 032 r * 1, 006 r *r 1, 063 ' 4 1, 100 ' * 1, 054
1,109
*944
930
National defense and related activities - _ _ d o
r
1, 578
1, 765
' 1, 348
1,211
* 1, 560
' 1, 125
•• 2 1, 353 ' 2 1,313 ' 1, 382 ' 2 1,415 r 2 1, 402
889
1, 290
All other exoenditures
_ __do
' Revised.
» Preliminary.
1 Beginning
September 12, series changed from one to two bond issues (2 percent December 1952-54 and 2J-3 percent March 1956-58). Average for old
2
series for September is 1.25
percent.
Revised to include transactions relating to Foreign Economic Committee Trust Fund;
revisions for June 1948-January 1949 are shown in the note
3
4
at bottom of p. S-14.
Beginning November 1949, data represent interest due and payable; previously, interest paid.
Excludes war assets expenditures; includes data for the National
Advisory Committee for Aeronautics and strategic and critical materials.
cfFor bond yields see p. S-19.
tRevised series. Bank rates to customers have been revised to reflect a change in the reporting form; for the series shown here no revisions.were made prior to June 1948.
r
2
SURVEY OF CURRENT BUSINESS
April 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-17
1950
1949
F
*™- | March
April
July
June
May
August
September
October
November
December
January
256, 680
254, 756
220, 842
33, 914
1,923
256, 778
254, 876
221, 066
33, 810
1,901
256, 982
255, 124
221, 295
33, 829
1,858
257, 130
255, 019
221. 123
33 896
2,111
256, 865
254, 869
221, 367
33, 502
1,997
February
FINANCE—Continued
FEDERAL GOVERNMENT FINANCE— Con.
Debt, gross:
Public debt (direct), end of month, total
Interest-bearing, total
Public issues
_
Special issues
Noninterest bearing
__ _
Obligations guaranteed by U.
end of month
U. S. savings bonds:
Amount outstanding, end of
Sales series E F, and G
Redemptions
_
_
mil. of dol_-
do
- do___
do
_
__
do
S. Government,
mil of dol
month _ _ do__
do
_ _ _ _ _ _ do
Government corporations and credit agencies:
Assets, except inierage cy, iota
.
T
'rt
'
To aid home owners
To aid railroads
To aid other industries
To aid banks
•
251, 642
249, 573
217, 647
31, 926
2,068
251, 530
249, 509
217, 676
31, 833
2,021
251, 889
249, 890
217, 975
31, 914
2,000
252, 770
250, 762
217, 986
32, 776
2,009
253, 877
251, 880
218, 831
33, 049
1,996
255, 852
253, 921
220, 563
33, 358
1,931
26
24
23
23
27
26
27
29
28
29
29
27
27
55. 982
590
440
56, 103
454
398
56, 195
433
415
56, 333
485
451
56, 522
511
425
56, 602
449
439
56, 663
398
411
56, 729
388
396
56, 774
383
415
56. 910
495
466
57, 108
707
618
57. 345
581
418
1
i_
do
do
do
do
do
22 324
12 228
4,209
851
141
337
5
367
6,098
589
674
2,077
3, 515
3,048
782
22 232
11 770
3,847
980
120
364
4
368
6, 108
488
1, 140
2 004
3, 508
2,946
865
22 594
11 720
3 617
1,123
120
407
4
347
6, 090
494
1,596
2 069
3,501
2 933
775
23, 733
12, 733
4,362
1,251
114
462
4
442
6,090
484
1,549
2,047
3,492
2,962
950
Commodities supplies and materials
do
Other securities
do
\11 other assets
do
2,834
2 377
1 957
2,520
Bonds, notes, and debentures:
Guaranteed bv the United States
Other
Other liabilities
do
do
do
23
884
1,927
26
865
1,487
28
856
1,074
28
772
1,720
do
170
19, 320
172
19, 682
177
20, 460
183
21, 030
U S Government interest
Reconstruction Finance Corporation, loans and
securities (at cost) outstanding, end of month,
total
mil. of dol
Industrial and commercial enterprises, including
national defense
mil. of dol
Financial institutions ._ _ _ _
_
_ _ _ _do _
Railroads, including securities from PWA__do...
States, territories, and political subdivisions, do
United Kingdom and Republic of the Philippines
mil. of doL.
Mortgages purchased
do
Otherloans
_
_
do _.
256, 368
254, 406
221, 535
32, 871
1.962
55, 763
599
369
f\
If'
Foreign loans
252, 721
250, 603
218, 799
31, 804
2,118
1
1, 458
1 1, 522
i 1, 603
i 1, 670
i 1, 737
i 1, 825
1 1, 874
i 1, 951
380
123
138
30
384
123
U17
30
399
122
U17
30
416
123
1117
30
434
122
1117
30
443
121
U17
30
472
118
i 117
29
481
114
1
112
29
500
114
i 111
29
507
113
illO
27
182
483
37
179
531
37
174
592
37
173
643
37
176
703
38
167
762
37
165
824
37
161
891
37
149
951
37
147
1,012
37
145
1,060
37
56, 589
51,323
56, 872
51, 498
57, 233
51, 921
57,503"
52, 251
57, 768
52, 390
58, 082
52, 640
58, 407
52, 903
58, 699
53, 171
59, 280
53, 652
59, 781
53, 911
60, 080
54, 252
50, 589
36, 567
16, 809
14, 761
8,594
2, 855
8,309
695
9,430
886
8,544
1,841
995
1,163
50, 833
36, 578
16, 591
14, 542
8,686
2,853
8,447
731
9,557
903
8,655
1,853
1,007
1,106
51, 143
36, 809
16, 377
14, 337
8,977
2,865
8,591
676
9,713
915
8,797
1,866
1,028
1,052
51, 364
36, 951
16, 149
14, 106
9,090
2,861
8,851
650
9,828
928
8,900
1, 878
1,042
1,015
51, 589
36, 911
16,016
13. 974
9,134
2,855
8,906
703
9,971
938
9,033
1,892
1,045
1,066
51, 858
36, 984
15, 987
13, 883
9,153
2,856
8,989
692
10, 117
948
9,170
1,904
1,059
1,101
52, 134
37, 064
15, 905
13, 781
9,196
2,857
9,106
724
10, 234
958
9,276
1,915
1,077
1,120
52, 389
37, 162
15, 797
13, 682
9,261
2,859
9,244
697
10, 388
966
9,422
1,925
1,090
1,127
52, 879
37, 397
15, 921
13, 779
9,314
2,864
9,298
706
10, 569
978
9,591
1,934
1,102
1,171
53, 184
37,411
15, 881
13, 743
9, 320
2, 866
9, 345
852
10, 691
987
9,704
1,943
1,113
1,173
53, 445
37, 588
15, 853
13, 716
9,473
2,877
9,386
704
10, 831
1,006
9,824
1, 952
1,124
1,246
1,852
182
414
1,256
84
302
267
122
141
52
106
41
141
1,861
185
431
1,245
83
294
258
118
141
53
108
43
147
1,890
242
396
1,252
81
289
263
127
135
52
114
45
145
1,657
179
356
1,122
73
263
235
113
124
46
99
40
130
1,778
250
381
1,147
69
249
243
116
132
50
108
42
138
1,718
249
384
1,085
67
234
231
112
123
49
101
38
128
1,861
267
416
1,178
77
277
251
111
137
53
99
40
134
1,901
308
395
1,198
83
278
256
113
140
52
102
41
133
2,195
504
360
1,331
86
289
280
133
156
58
117
52
160
1,745
212
402
1, 131
85
293
239
104
124
44
95
35
111
2, 335
706
433
1,196
82
294
253
111
136
48
105
40
127
285, 303
124, 889
37, 960
8,013
19, 256
46, 348
48, 837
274, 398
119, 043
37, 318
7,385
19, 998
42, 061
48, 593
304, 428
124, 888
42, 636
8,347
20, 868
56, 118
51, 571
267, 451
115,810
34, 227
7,475
19,970
42, 990
46, 979
286, 005
130, 188
35, 505
7,912
18, 739
43, 828
49, 893
276, 238
115, 711
36, 027
7,641
19, 856
47, 329
49, 674
276, 422
121, 365
38, 565
8,136
20, 078
39, 729
48, 549
276, 654
120 828
38, 559
7,867
19, 689
38, 638
51, 073
339, 057
132 673
37, 933
8,534
17,097
83, 640
59, 180
327, 079
132 259
46, 643
8,969
25, 323
60, 422
53,463
288, 708
124 549
38, 750
7,800
19, 434
47, 168
51. 007
1,362
1,411
1,465
1,419
340
126
138
135
349
125
139
138
362
124
138
138
191
395
37
185
438
37
1, 998
LIFE INSURANCE
Assets, admitted:
All companies (Institute of Life Insurance), esti56, 309
55, 984
mated total
mil of dol
50, 995
50, 735
Securities and mortgages
do
49 companies (Life Insurance Association of
50, 340
50, 070
America), total %,
mil. of dol
36, 433
36, 348
Bonds and stocks, book value, total _ _ _ do
17, 020
17, 150
Govt. (domestic and foreign) total
do__.
14, 969
15, 110
U. S. Government .
_.
do
8,475
8,396
Public utility
do
2,857
2,856
Railroad
_.__
do
8,081
7,946
Other
do
728
714
Cash
do
9,300
9,160
Mortgage loans, total _
. _.
do
871
859
Farm
do
8,429
8,301
Other
do
1,828
1,817
Policy loans and premium notes
do _
980
971
Real-estate holdings.
do
1,062
1,070
Other admitted assets. _. . _ _
do
Life Insurance Agency Management Association:
Insurance written (new paid-for-insurance) :
2,224
1,711
Value, estimated total
___ mil. ofdoL
454
193
Group
.
__
do
433
375
Industrial
do
1,337
1,143
Ordinary, total
do
89
78
New England- _ _
_ do .
335
298
Middle Atlantic. .
_ do
290
250
East North Central
_
do
124
99
West North Central
do___
123
147
South Atlantic.
_
_ do
55
46
East South Central
do
111
97
West South Central
_.
do
41
34
Mountain do
145
118
Pacific..
_
do
Institute of Life Insurance:
Payments to policyholders and beneficiaries,
326, 028
269, 380
estimated total
.
_ thous. of dol
143, 484
117,839
Death claim payments
do
44, 426
38, 101
Matured endowments
__ __ . do
8,142
7,825
Disability payments
do
20,500
17, 630
Annuity payments
_ __
do
58, 889
46, 239
Policy dividends . _
_
__
. _ _ d o __
41, 746
50, 587
Surrender values _
do
T
Revised.
i Excludes securities from PWA.
JSee corresponding note on p. S-17 of the March 1950 SURVEY.
SUKVEY OF CUERENT BUSINESS
S-18
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
April 1950
1950
1949
February
March
April
May
June
July
August
September
October
November
December
434, 472
32, 927
50, 965
37, 535
65, 659
247, 386
653, 742
42, 178
115, 207
40, 929
108,014
346, 914
January
February
24, 395
-93, 162
P 24 345
46, 201
4,350
5,869
5,506
47
30
4,355
FINANCE—Continued
LIFE INSURANCE— Continued
Life Insurance Association of America:
Premium collections (39 cos.), total thous. of dol
Accident and health
_ _ _ _ _ _ _.do __.
Annuities
do
Group _ _ _ _ _
_ _ _ _
do __
Industrial
do
Ordinary
_ .. _ _
do
451, 530
29, 185
54, 430
37,036
66, 868
264,011
526, 641
34, 267
67, 864
40, 824
77, 888
305, 798
406, 246
26, 391
47, 377
32, 182
58, 258
242, 038
437, 033
31,655
46, 497
34, 905
67, 835
256, 141
499, 255
32, 955
63, 102
34, 690
75, 018
293, 490
372, 943
28, 171
14.316
30, 362
60, 330
239, 764
465, 995
29, 964
52, 865
30, 485
75, 341
277, 340
414, 068
31,116
53, 964
32, 973
63, 054
232, 961
435, 499
31, 627
51, 973
31, 606
61, 410
24,314
-16,725
5,108
24, 879
62, 227
39, 275
11,994
5,544
24, 332
-17,741
12,019
25,615
60, 816
37, 941
11, 442
5,674
24, 342
37 775
l|612
11,142
63, 171
38, 902
11,635
5,623
24, 466
121, 632
5,483
12, 389
64, 823
39, 307
12, 015
5,529
24, 520
24, 608
24 602
-19,936 -208, 540 -154,799
6,890
11,563
15, 857
137,986 268, 936
114,002
63, 102
66, 224
65, 400
39, 966
40, 380
39 366
11, 421
12, 569
12, 735
5,728
6,505
6,239
24 584
-89, 117
2,397
58, 527
65, 422
39, 012
12, 804
7,306
24 479
-63, 939
2, 998
10, 629
24, 427
-59,399
10,111
8,697
38 509
12, 659
7,385
38, 483
13, 058
6,609
214
6,444
.715
4,783
2,825
.715
514
12, 190
.715
1,818
10, 237
.715
11, 910
6,824
.715
2,090
6 056
.719
160
5 628
.732
86
7 508
.733
184
6 370
.733
680
4,060
.733
8,065
1,298
4, 800
2,743
1,246
4, 000
3,341
1,499
4,400
3,614
2,198
4,300
2,676
1,735
3 500
2,349
1,196
4 600
2,909
1, 144
4 700
2,167
1,894
4 000
2 884
1,504
3 800
3 101
1,718
4 800
3, 193
1,196
3 700
2 965
2,496
27, 439
27, 417
27, 507
27, 493
27 394
27 393
27 412
27 407
27 543
27 600
r 26 941
v 27 067
167, 600
25, 100
167, 500
24 900
167, 600
25 000
167, 930 p 167 900 p 170 000 P 170 300 P 171 500 P 171 goo p 173 100 p 173 300 p 172 700
25 266 P 24 900 v 25 100 v 24 900 P 24 900 p 25 100 v 25 000 p 24 500 P 24 700
142, 500
81,100
58, 000
142, 600
82, 400
58, 100
142, 600
82, 500
58, 200
142, 664 v 143, 000 *> 144, 900 pl45 400 p 146 600 p 146 700 pl48 100 p 148 800 p 148 000
81,877 v 83, 100 P 83, 400 P 83, 300 p 84, 600 p 85, 500 P 86, 700 p 86, 800 p 84, 900
58, 483 v 58, 400 p 58, 400 P 58, 400 P 58, 400 P 58, 000 P 58, 400 p 58, 700 p 58, 900
27.2
19.2
27.6
18 6
28.3
18 5
OKO
CCQ
MONETARY STATISTICS
Gold and silver:
Gold:
24, 290
Monetary stock U S
mil of dol
Net release from earmark §
thous. of doL. -22, 201
4,499
Gold exports - do
25, 978
Gold imports
do
56, 335
Production, reported monthly totaltdo _ _
35, 529
Africa
do
10, 766
Canada
_
_ do _.
3,869
United StatesJ
do
Silver:
261
Exports
do.
3,278
Imports
do
.708
Price at New York
dol. per fine oz_.
Production:
Canadacf- _
thous. offineo z _ _
969
,100
Mexico
do
2,821
United States.
_ do_ __
Money supply:
27, 557
Currency in circulation
mil. of dol
Deposits, adjusted, all banks, and currency out169, 300
side banks, totalQ
mil. of dol
Currency outside banks
do
25, 100
Deposits, adjusted, total, including U. S. deposits© .
mil. of dol
144, 200
Demand deposits, adjusted, excl. U. S._do
83, 400
57, 800
Time deposits, incl. postal savings
do
Turn-over of demand deposits, except interbank and
U. S. Government, annual rate:
New York City
ratio of debits to deposits
27.1
18.6
Other leading cities
_
do
29.8
18. 7
28.7
18.5
25.5
17.1
28.0
18.6
27.3
18 5
27.2
19 1
32.5
20 0
7,223
.733
28.6
18 9
-50,411
4,119
.733
29.3
18.9
PROFITS AND DIVIDENDS (QUARTERLY)
Manufacturing corporations (Federal Reserve):*
Profits after taxes, total (200 cos.)
mil. of dol
Durable goods, total (106 cos.)
_. _
do._Primary metals and products (39 cos ) do. __
Machinery (27 cos )
dv»
Automobiles and equipment (15 cos ) do- ._
Nondurable goods, total (94 cos.) . _ .do
Food and kindred products (28 cos.) do_
Chemicals and allied products (26 cos.).do
Petroleum refining (14 cos.) _ _- _ _ _ -do
Dividends, total (200 cos.)
.do
Durable goods (106 cos.)
_.do
Nondurable goods (94 cos ) _ _
.__do__
Electric utilities, profits after taxes (Fed. Res.)
mil. of dol
Railways and telephone cos. (see p. S-23).
823
498
220
72
180
325
52
105
119
343
196
146
750
491
161
70
229
259
54
87
92
354
188
'166
r gig
r
522
r
184
147
p 760
p410
P 82
P 91
p 204
p 350
f 64
p 119
p 109
p 629
P 380
p 249
206
180
173
T> 195
141
r 75
r
271
r
T
296
63
110
86
r 331
r
SECURITIES ISSUED
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
capital and refunding)
mil. of dol _
New capital, total _
do, _
Domestic, total
__
. do,
Corporate _
do
Federal agencies
do. _
Municipal, State, etc
_ _ _
do
Foreign _
_ do
Refunding, total. _.
do
Domestic, total
do. __
Corporate
_ _ _ _ _ __do
Federal agencies
do
Municipal, State, etc
do
500
436
436
231
14
191
0
64
64
7
53
4
695
600
584
383
26
174
16
96
96
39
55
1
949
904
904
681
33
190
o
45
45
1
44
1
757
681
681
295
51
335
0
76
76
31
38
7
1,644
1 550
1 535
1 196
24
315
15
94
94
31
62
1
765
685
441
432
9
0
244
79
78
22
56
0
617
309
291
117
o
174
18
308
204
g
195
1
707
519
510
127
69
314
10
188
188
38
146
4
823
675
639
405
489
379
379
150
731
513
513
315
234
36
148
148
91
53
4
229
198
1, 185
817
817
553
30
233
109
109
35
52
22
218
218
105
56
57
369
269
108
159
1
o
o
o
o
o
o
Securities and Exchange Commission: J
Estimated gross proceeds, total
do
1,289
1,395
1,493
1,606
2,672
2, 327
1,612
2,079
1,667
1,759
2,059
1,183
1,585
By type of security:
2 541
Bonds and notes, total
do
1,275
1,314
1,423
1 351
1 f»9^
2 268
2 Q12
1 550
1 562
1 602
1 102
1 946
Corporate _
do
308
330
515
' ^fi
' 4.A9
246
1 126
415
105
113
345
74
40
Common stock
do
8
41
133
60
47
46
46
35
61
44
5
oa
Preferred stock
do
40
50
82
57
14
21
27
45
By type of issuer:
990
Corporate, total
do
321
411
698
388
1 257
475
173
451
174
79
en
07
Manufacturing* __ _
do
114
79
313
170
193
27
12
88
Public utilityf
_ do
105
145
236
195
537
124
91 n
1OJ.
95
87
191
132
309
45
01
Railroad
do
55
88
18
in
49
51
16
41
20
1
3
O
one
Communication* _ _ _
do
o
37
46
387
14
12
12
16
g
11
Real estate and
financial
do _
32
23
59
39
76
34
91
24
42
61
12
Noncorporate, total
_
do
968
985
908
1 415
1 105
1 9fifi
1 483
1 852
1 907
1 438
1 216
959
U. S. Government
do
763
792
717
7O7
759
1? 099
1 606
1 608
894
978
State and municipal
do
204
175
190
346
316
'245
9^
93^
*Afi
951
327
928
' 198
r
Revised.
v Preliminary.
In
-r i §°r increase earmarked gold (-).
{Revisions for January-May 1948 for United States and total gold production are shown in the August 1949 SURVEY, p. S-18. Revisions for JanuaryJuly 1948 for securities issued (SEC data) are available upon request.
*
cf Revised data for January-August 1948 are shown in the November 1949 SURVEY, p. S-18.
OU. S. Government deposits at Federal Reserve banks are not included
beginning
1939and
quarterly
data
beginf *New series. Data on profits and dividends cover large manufacturing corporations (total assets end of 1946, $10,000,000 and over); annual data
ning 1946 are available upon request. Data on securities issued for manufacturing (prior to this issue of the SURVEY, included with ''industrial 1 ') and communication (formerly included
with public utility ' and 'industrial ) are available beginning January 1948.
fRevised series. Data (covering electric, gas, and water companies) are available beginning January 1948
SURVEY OF CURRENT BUSINESS
April 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-19
1950
1949
February
March
May
April
June
July
August
September
October
November
December
January
February
FINANCE—Continued
SECURITIES ISSUED— Continued
Securities and Exchange Commission^ — Continued
New corporate security issues:
Estimated net proceeds, total
mil. of dol__
Proposed uses of proceeds:
New money, total
do
Plant and equipment
do
Working capital
do.
Retirement of debt and stock, total__do
Funded debt
_
do
Other debt
do
Preferred stock
__
_ do
Other purposes
do
Proposed uses by major groups:
Manufacturing, total*.. _
_ _ _ do_ .
New money
do
Retirement of debt and stock
do
Public utility, total f
do
New money
do
Retirement of debt and stock. _ do_ _
Railroad, total
--_
__do_ _
New money
do
Retirement of debt and stock ._
do _
Communication, total* _ .
do
New money
_ _
_ _ _.do
Retirement of debt and stock
do
Real estate and financial, total
do
New money
do
Retirement of debt and stock
do
State and municipal issues (Bond Buyer):
Long-term
thous. of dol_
Short-term
do_ _
318
403
688
380
1,244
468
168
171
445
219
484
567
209
220
172
48
32
7
25
0
66
319
253
66
81
37
44
0
3
553
402
151
127
1
126
0
7
340
254
85
33
13
15
5
7
1,074
958
116
161
40
116
4
9
430
393
37
30
18
12
1
8
140
119
21
24
118
87
31
40
19
2
20
12
272
229
43
88
58
29
1
84
163
134
29
38
18
20
0
18
336
226
111
82
75
6
1
66
423
394
29
104
39
53
12
39
153
111
42
41
30
g
3
15
113
27
21
103
101
2
54
50
4
1
1
0
32
29
3
77
57
18
142
123
19
87
87
0
37
2
35
23
21
1
310
192
117
231
225
78
70
17
17
0
45
45
0
58
51
2
191
179
11
122
120
2
51
51
0
14
14
0
33
9
16
26
15
7
92
88
4
20
13
7
0
0
0
6
5
12
8
2
85
51
27
16
16
0
12
3
9
23
22
1
86
46
17
187
97
65
41
41
0
12
11
36
15
15
129
1C6
14
10
10
50
48
2
303
171
72
31
27
4
2
2
26
22
190
109
21
49
49
0
3
3
0
39
28
5
167
81
86
531
471
54
45
45
0
385
385
0
76
60
16
206^
146
30
93
27
60
204
202
2
12
4
0)
61
47
12
103
73
29
12
12
0
0
0
0
21
9
0)
203, 674
120, 198
171,704
133, 002
198, 762
110, 200
349, 557
61, 224
324, 825
120, 040
244, 173
67, 450
218, 662
196,516
332, 957
105, 586
230, 822
46, 514
265 519
119, 155
255 707
126 144
248 1 76
178, 972
546 401
164, 218
395
445
254
357
209
368
173
380
169
552
199
660
216
420
153
371
128
244
237
294
198
284
154
237
103
230
527
565
225
530
551
254
626
542
329
660
537
355
280
681
528
493
690
530
399
699
548
404
740
584
418
783
586
416
813
596
445
306
881
633
523
901
669
493
953
669
522
17
0
4
0)
0)
41
5
0
o
16
14
2
U
10
o
o
60
59
0)
T
r
COMMODITY MARKETS
Volume of trading in grain futures:
Corn
Wheat
_
mil. o f b u
- do ___
SECURITY MARKETS
Brokers' Balances (N. Y. S. E. Members
Carrying Margin Accounts)
Cash on hand and in banks
Customers' debit balances (net)
Customers' free credit balances
Money borrowed
mil of dol
do
do _ _
do
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.),
101. 82
100. 58
100. 56
100.49
100. 45
100. 98
101. 80
101.40
101.95
102. 11
101.81
102 43
102. 00
total §
.
_ _ dollars102. 28
101.04
101.01
100. 93
101.45
100. 93
102. 27
101.86
102. 56
102. 38
102. 27
102. 45
102 89
Domestic
do
71.40
72.07
71.35
72.18
72.20
70.26
71.82
71.77
74.80
72.92
74.46
72.48
73. 70
Foreign
_ do_ __
Standard and Poor's Corporation:
Industrial, utility, and railroad:
101.0
101.0
100.9
103.0
100.5
100.7
103.1
102.0
104.0
103.2
102.8
High grade (11 bonds)
dol. per $100 bond-.
103.7
104.0
Medium grade:
91.9
92.6
91.7
91.9
91.7
92.7
91.8
93.3
96.4
93.5
Composite (12 bonds)
do
94 5
96.3
93.7
98.2
98.9
97.1
98.0
97.0
98.7
98.6
99.0
102.0
99.9
Industrial (4 bonds) .
do_ _.
100.3
101.0
101.8
95.5
95.6
96.3
97.7
95.7
94.7
96.9
98.8
99.2
100.9
99.5
Public utility (4 bonds)
do
100.6
100 1
81.9
83.1
81.6
81.2
86.6
80.0
82.1
79.9
86.5
82.0
Railroad (4 bonds)
do --80.8
82.2
86.4
129.1
127.5
128.5
128.8
129.0
129.0
127.9
128.6
131.7
131 3
129.6
128.8
Domestic municipal (15 bonds) ~
do
130 3
103.
63
101.65
101.
62
101.
51
101.
67
101.
72
103.
86
103.
29
103.
90
103.
62
104.
16
104.
22
104. 36
U. S. Treasury bonds, taxable
_
-_ do
Sales:
Total, excluding U. S. Government bonds:
All registered exchanges:
53, 189
60, 737
52, 009
56, 225
50, 767
49, 004
72,615
47, 468
51, 480
67, 512
64, 646
Market value
thous. of dol__
84,642
107, 958
78, 549
80, 637
76, 590
67, 997
67, 171
70, 080
87, 224
59, 560
84, 939
68, 959
84, 467
Face value
do
144, 088
111 120
New York Stock Exchange:
57, 108
52, 359
50,459
49, 038
47, 431
46, 165
69, 941
44, 469
47, 938
60 157
Market value
_ _ „ do _
80 274
103 400
63 443
73, 916
75, 821
72, 458
63, 601
66, 056
63, 433
84,074
55, 721
79 064
64, 706
Face value
do
78 760
105 909
138 310
New York Stock Exchange, exclusive of stopped
66, 223
66, 839
62, 284
64, 021
63, 661
67, 820
64, 257
55, 413
63, 934
sales, face value, total §
thous. of dol
74, 692
119, 727
99 080
68, 487
52
3
31
202
13
5
30
61
12
U. S. Government
__
_
_ _ d o __
72
0
22
25
62, 279
66, 171
66, 836
64, 227
63, 990
63, 459
67, 807
55, 352
63, 922
119, 702
74, 692
Other than U. S. Government, total §
do
68, 415
99, 058
59, 388
54, 847
59, 523
54, 953
58, 779
55, 150
58, 133
47, 169
56, 494
108, 323
59 215
67, 065
Domestic
do
91 063
11, 804
6,769
8,155
7,350
5,166
8,043
6,035
8,166
7,412
Foreign _
_
do
7,598
11, 280
7,938
9, 161
Value, issues listed on N. Y. S. E.:
133, 643
132, 098
132, 029
132, 065
132, 813
131, 686
132, 210
132, 221
132, 445
Market value, total, all issuesd1
mil. of dol. _ 131, 863
128, 464
128, 021
127, 777
131,956
130, 368
130, 392
130, 326
131,124
130, 000
130, 535
Domestic
- _
do__ _ 130, 188
130, 509
126 755
130 726
126 290
126 054
1,432
1,455
1,436
1,452
1,432
1,447
1,426
1,422
Foreign
do
1 458
1 463
1 452
1 475
1 469
131, 254
131,360
131,
381
130,
975
131,
272
131,
304
130,
402
129, 874
Face value, total, all issuescf
do
129, 854
129, 870
125, 410
125, 373
125, 332
129, 017
129, 027
129, 094
129, 120
128. 724
128, 993
128, 146
127, 644
123 119
127 597
127, 608
Domestic
- do
123 190
123 142
1,988
2,016
2,011
2,030
2,028
2,006
2,001
1,981
2,012
Foreign
do
2 007
1 970
1 981
1 963
Yields:
2.92
3.00
3.00
3.00
3.00
2.98
3.00
2.90
2 90
Domestic corporate (Moody's)
percent
2.89
2 86
2 83
2 83
By ratings:
2.62
2.70
2.67
2.70
2.71
2.71
2.71
2.60
2 61
Aaa do
2 60
2 58
2 57
2 58
2.75
2.71
2.79
2.79
2.78
2.80
2.78
2.69
Aa
do
2.68
2.70
2 67
2 65
2 65
3.05
2.96
3.05
3.04
3.03
3.05
3.04
2.95
2 94
2 93
A
do
2 89
2 86
2 85
3.45
3.45
3.46
3.47
3.47
3.40
3.45
3.37
3.36
3.35
Baa
_
__ do
3 31
3 24
3 24
By groups:
2.78
2.78
2.75
2.79
2.78
2.78
2.70
2.68
Industrial
___
___
do
2.68
2 63
2 67
2 65
2 63
2.96
2.95
2.93
2.86
2.97
2.89
2 99
2.84
2.83
Public utility
do
2 79
2.81
2 79
2 78
3.27
3.26
3.29
3.29
3.21
3.24
3.27
3.19
Railroad
do
3 20
3 20
3 14
3 07
3 08
Domestic municipal:
2.13
2.21
2.21
2.17
2.13
2.12
2.20
Bond Buyer (20 cities)
do
2.16
2.13
2.11
2.08
2.05
2.02
2.21
2.20
2.20
2.26
2.23
2.28
2.20
2.22
Standard and Poor's Corp. (15 bonds)
do
2 21
2 13
2 17
2 08
2 06
2.24
2.38
2.38
2.38
2.27
2.39
2.38
2.22
U. S. Treasury bonds, taxable
do
2.22
2.20
2.19
2.20
2.24
* Revised.
1 Less than $500,000.
JRevisionsf or January-July 1948 are available upon request.
*New series. See corresponding note on p. S-18.
fRevised series. See corresponding note on p. S-18.
§Sales figures include bonds of the International Bank for Reconstruction and Development not shown separately; these bonds are included also in computing average price of all listed
bonds.
c^Total includes bonds of the International Bank for Reconstruction and Development not shown separately.
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
April 1950
1950
1949
February
March
April
May
June
July
August
September
October
November
December
January
February
FINANCE—Continued
SECURITY MARKETS— Continued
Stocks
Cash dividend payments publicly reported:
Total dividend payments
_ .mil. of dol
Finance
do
Manufacturing
do
A/lining
do
Public utilities :t
Communications
do
Heat light, and power
_do
Railroad
- do.
Trade
do
Miscellaneous
___
_ do _ Dividend rates, prices, yields, and earnings, 200
common stocks (Moody's) :
Dividends per share, annual rate (200 stocks)
dollars ._
Industrial (125 stocks)
do
Public utility (24 stocks) t
do.- Railroad (25 stocks)
do
Bank (15 stocks)
_
do
Insurance (10 stocks)
do
204.0
37.9
99.1
2.1
705.6
38.0
440.6
65.2
474.4
68.3
217.7
6.8
193.3
27.0
102.0
1.6
825.8
68.8
515.0
70.5
493.6
105. 4
226. 3
5.3
189.6
35.1
93.9
1.3
725. 7
43.7
448.7
63.7
463.5
70.4
207.3
6.6
190.8
28 7
102.1
1.5
1, 497. 4
143 0
1, 015. 4
100 1
530. 2
103 3
232 1
4 6
213. 2
37 1
103. 2
1 5
.4
36.8
9.7
15.8
2.2
14.1
40.8
37.5
50.2
19.2
57.5
52.1
19.7
41.8
10.5
.4
38.8
12.6
7.5
3.4
13.7
49.7
39.5
46.6
22.0
54.8
43.4
13.7
34.7
10.0
.4
40.9
5.9
9.1
3.0
24.7
47.8
27.7
48.5
20.9
55.5
57.5
15.6
42.3
8.3
.4
42.8
3.7
8.0
3.6
26 2
61.1
51.7
65.3
34.6
60 7
46.3
11.7
58.4
13.1
5
40.6
11.4
16 7
2.2
3.07
3.17
1.63
2.42
2.35
1.99
3.08
3.18
1.63
2.46
2.35
1.99
3.09
3.18
1.66
2.46
2.35
1.99
3.08
3.17
1.66
2.46
2.35
1.99
3.05
3.14
1.67
2.46
2.33
2.03
3.04
3.12
1.67
2.46
2.33
2.03
3.03
3.10
1.66
2.46
2.33
2.03
3.01
3.08
1.68
2.45
2.33
2.10
3.01
3.09
1.68
2.36
2.37
2.11
3.26
3.42
1.68
2.30
2.39
2.11
3.27
3.44
1.68
2.24
2.47
2.34
3.26
3.42
1.69
2.25
2.47
2.40
3.27
3 43
1.70
2 16
2.47
2 40
Price per share, end of month (200 stocks)-. do
Industrial (125 stocks)
.__
_
do _ .
Public utilitv (24 stocks) t
do
Railroad (25 stocks)
_ __ _ _
do
44.79
44.52
26.93
28.86
46.22
46.21
27.41
29.60
45.37
45.28
27. 75
28. 52
43.77
43.46
27.62
27.60
43.58
43.48
27.02
26.52
45.76
46.01
28.03
27.43
46.64
46.91
28.76
27.52
47.72
48.18
29 58
28.30
49.25
49.94
29. 82
28.26
49.27
49.89
29.81
28.37
51.39
52.28
30.57
30.42
51.94
52. 58
31.60
31.70
52. 38
52.88
31 91
31.52
Yield (200 stocks)
percent. _
Industrial (125 stocks)
do
Public utility (24 stocks) t
-do
Railroad (25 stocks) _ __
._ .do ..
Bank (15 stocks)
_ _ _
__
do
Insurance (10 stocks) _ _ . __do __
Earnings per share (at annual rate), quarterly:
Industrial (125 stocks)
dollars
Public utility (24 stocks)!
do
Railroad (25 stocks)
do
Dividend yields, preferred stocks, high-grade, 11
stocks (Standard and Poor's Corp.). -.percent-Prices:
Average price of all listed shares (N. Y. S. E.)
Dec 31 1924—100
Dow- Jones & Co., Inc. (65 stocks) dol. per share _.
Industrial (30 stocks)
_
__
do
Public utility (15 stocks)
do
Railroad (20 stocks)
do
Standard and Poor's Corporation:
Industrial, public utility, and railroad :§
Combined index (416 stocks) _ _ . 1935-39 =100. _
Industrial, total (365 stocks)
do
Capital goods (121 stocks)
_ _ _ do
Consumers' goods (182 stocks)
do
Public utility (31 stocks)
do . „
Railroad (20 stocks)
do
Banks, N. Y. C. (19 stocks)
do ...
Fire and marine insurance (18 stocks)
do
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
mil of dol
Shares sold
_ --thousands _
On New York Stock Exchange:
Market value
mil. of dol _
Shares sold
thousands..
Exclusive of odd lot and stopped sales
(N. Y. Times)
thousands..
Shares listed, New York Stock Exchange:
Market value, all listed shares
mil. of dol__
Number of shares listed
millions. _
6.85
7.12
6.05
8.39
4.70
3.33
6.66
6.88
5.95
8.31
4.66
3.27
6.81
7.02
5.98
8.63
4.71
3.34
7.04
7.29
6.01
8.91
4.75
3.38
7.00
7.22
6.18
9.28
4.76
3.52
6.64
6.78
5.95
8.97
4.70
3.35
6.50
6.61
5.77
8.94
4.51
3.26
6.31
6.39
5.68
8.66
4.52
3.21
6.11
6.19
5.63
8.35
4.41
3.10
6.62
6.86
5.64
8.11
4.61
3.00
6.36
6.58
5.50
7.36
4.54
3.18
6.28
6.50
5. 35
7.10
4. 55
3.37
6.24
6 49
5.33
6.85
4 32
3.28
6.60
2.24
1.72
6.00
2.28
4.04
p 7 05
* 2 36
p 5.47
r 6 75
r
2 37
3. 45
4.04
4.07
4.07
4.04
3.98
3.97
3.90
3.85
3.88
3.89
3.88
3.83
3.84
69.9
63.15
174. 46
34.51
49.37
72.0
63.29
175. 88
35. 08
48.19
70.5
63.47
175. 65
35.73
48.27
67.9
62.79
174. 03
35.73
45.90
67.0
59. 25
165. 59
34.31
42.89
70.1
61.61
173.34
35.31
44.31
71.3
63.79
179. 24
36.54
46.14
73.1
64. 68
180. 93
37.65
46.65
75.9
66.66
186. 47
38.25
48.68
76.2
67.98
191.61
39.22
48.46
79 1
70.35
196. 78
40.55
51.21
72. 53
199. 79
41. 52
54.68
73. 64
203. 46
42.62
55 16
117.2
122.7
113.2
120.4
94.4
99.6
92.6
140.9
118.0
123.7
113.1
120.9
95.3
97.4
93.4
141.5
118.5
124.2
111.6
121.2
96.1
97.1
93.9
140.9
117.7
123.5
110.4
121.2
95.3
95.8
93.3
139.7
112.0
117.0
104.3
116.7
93.0
88.4
91.0
134.5
117.8
123.8
110.5
123.9
95.4
90.6
92.5
138.1
121.8
128.0
114.5
127.4
98.5
94.2
95.5
144.9
123.8
130.3
116.0
129.2
100.0
95.1
96.8
149.0
127.3
134.4
119.7
133.0
101.2
97.6
99.5
157.2
129.1
136.5
123.8
135.2
102.6
96.2
99.3
160.1
132.7
140.3
128.6
140.2
104.1
101.0
99.6
168.1
135.1
142.6
132.1
143.4
105.8
107.8
101.8
168.5
136.7
144 4
134.5
145. 3
107.4
107.2
104.2
169.0
720
31, 509
754
36, 915
853
40, 684
765
37, 411
705
39, 437
626
37, 950
807
39, 057
871
40, 437
1,083
51,455
1,222
55, 245
1,480
68, 535
1,663
73, 807
1.374
59. 240
601
22, 153
626
26, 182
722
30, 293
639
26, 709
587
28, 776
526
29, 139
672
28, 977
729
29, 937
906
38, 474
1,035
40, 464
1,252
52, 028
1,409
56, 037
1.164
45. 078
17, 180
21, 136
19, 314
18, 179
17, 767
18, 752
21,785
23, 837
28, 891
27, 244
39, 293
42, 576
33. 406
65, 325
2,045
67, 518
2,051
66, 238
2,060
64, 147
2,072
63, 921
2,140
67, 279
2,150
68, 668
2,154
70, 700
2,162
72, 631
2,145
73, 175
2, 152
76, 292
2,166
77, 940
2,181
78.639
2.184
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES
BALANCE OF PAYMENTS (QUARTERLY)
Goods and services:
Receipts £otal
For goods exported
Income on investments abroad
For other services rendered
Payments total
For goods imported
For foreign investments in TJ S
For other services received
mil of dol
do
do
do
do
do
do
do
•
4,266
3,453
263
550
2,608
1,963
81
564
4,414
3,494
350
570
2,422
1,741
57
624
3 662
2, 782
305
575
2,392
1,804
63
725
3 572
2 672
410
490
2 409
1 826
95
488
Unilateral transfers (net), total _ _ _ _
Private
Government
.do
do
do
-1,420
-147
-1, 273
-1,631
-141
-1,490
-1,376
—108
-1,268
1 196
—142
1 054
Long-term capital movements (net), total
Private
Government
do
do
do
-519
-223
—296
-283
-171
—112
—8
+32
—40
203
169
34
+100
+70
+30
-236
-372
+136
—386
-280
— 106
+332
+384
52
Gold and short-term capital movements (net) , total
mil. of dol
Gold and foreign short-term capital in U. S. do
U S capital abroad
do
+181
__do
+158
+500
-96
p
Revised.
Preliminary.
tRevised series. Data for American Telephone and Telegraph stock (included in figures for 200 stocks) are excluded. Monthly data for 1929-48 are available upon request.
Errors and omissions
r
§Number of stocks represents number currently used; the change in the number does not affect the continuity of the series.
SUKVEY OF CURRENT BUSINESS
April 1050
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-21
1950
1949
February
March
April
May
July
June
September
August
October
November
December
January i
Febm
arj -
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE*
Indexes
Exports of U. S. merchandise:
Quantity Value
Unit value _
.. .
Imports for consumption:
Quantity --_ _ _
Value
Unit value
Agricultural products, quantity:
Exports, domestic, total:
Unadjusted
Adjusted
. _
Total, excluding cotton:
Unadjusted
_
Adjusted
Imports for consumption:
Unadjusted
Adjusted
214
277
130
243
312
128
243
310
128
230
291
126
233
294
126
do „
do
do
132
174
132
150
196
131
131
165
126
133
167
126
134
166
124
1924-29—100
.__
do
120
145
125
143
117
147
116
146
165
207
165
192
148
174
99
97
109
98
4,700
4,978
5,464
5,228
1923-25=100
do
. do .
_.
-
do__ _
do
do
do
191
234
123
196
241
123
189
227
120
186
223
120
208
251
121
164
197
120
123
117 !',
144
132
161
122
135
166
123
144
176
123
154
186
121
153
187
122
158
195
123
115
159
84
118
104
93
77
99
72
99
77
116
93
89
85
98
113
162
180
154
181
133
164
154
155
152
124
136
106
133
117
136
122
100
104
103
124
96
91
92
93
97
104
91
100
97
105
102
107
98
99
114
120
111
108
111
105
108
105
7, 251
5,443
8,273
5,683
7,945
5,829
4,907
5, 750
5, 459
5,975
4, 553
6,247
3,083
6,271
3, 705
6, 298
3,795
6, 055
1,092
1,104
899
880
906
770
194
239
123 i
91
l
Shipping Weight
Water-borne trade:
Exports, including reexports thous. of long tons
General imports .
.
__ do
r
Value
1,044
1,177
Exports, including reexports, total
mil. of dol__
By geographic regions:
35, 763
73, 837
Africa
thous ofdol
233, 753
212.633
Asia a n d Oceania
_
_ _ _ _
do__
424, 668
380, 550
Europe
do
166, 454
156, 701
Northern North America
do
114, 008
125, 729
Southern North America
do
152, 662
143, 950
South America
_ doTotal exports by leading countries:
Africa:
6,651
4,874
Egvpt
- do
31, 036
14, 840
Union of South Africa
do
Asia and Oceania:
15, 203
13, 431
Australia including New Guinea
do
4,293
3,592
British Malaya
do
15, 921
12, 126
China
_ - - -. _._
do
35, 362
26, 854
India and Pakistan
do
46, 820
46, 190
Japan
_ _ _
_
do
12, 991
15, 072
Indonesia
do
34, 449
35, 454
Republic of the Philippines
„
do
Europe:
61, 244
54, 927
France
do
77, 161
71, 366
Germany
_
do
53, 980
55, 487
Italy _ - do
1,901
176
Union of Soviet Socialist Republics
do
62, 246
59, 415
United Kingdom
_
do
North and South America:
Canada, incl. Newfoundland and Labradorf-do _ _ ' 156, 676 «• 166, 449
262, 386
241, 191
Latin- American Republics, total _
_ do
9,344
9,909
Argentina __ - __
_ _ do 42, 900
44, 828
Brazil
__
_
_
do
10, 153
11, 215
Chile
do
15, 154
19, 588
Colombia
do
34, 386
34, 183
Cuba
_. do
43, 307
49,146
Mexico
-_
do
45,178
49, 760
Venezuela
_._do __
Exports of U. S. merchandise, total
mil. ofdol—
By economic classes:
Crude materials
thous. ofdol-.
Crude foodstuffs^
_
_ _ _
do
Manufactured foodstuffs and beverages do
Semimanufactures _ _ _ _ _ _
_
do Finished manufactures _ _
do -By principal commodities:
Agricultural products, total {
do
Cotton, unmanufactured—.
do- — .
Fruits, vegetables, and preparationscf__do
Grains and preparations
do
Packing house products c?
_do __
Nonagricultural products, totalt
do
Aircraft, parts, and accessories
do
Automobiles, parts, and accessoriescf--do
Chemicals and related products cf - - do Copper and manufactures cf _ . __ _ -do
Iron and steel-mill products
do
Machinery, total cf
do
Agriculturalo"
- - . __ _ do
Tractors, parts, and accessories*
do
Electricalcf
do
Metal working
do
Other industriald*
do
Petroleum and products
___
do__ _
Textiles and manufactures
do
1,033
153,
130,
84,
119,
545,
1,164
1,166
58, 182
240, 636
406, 991
188, 489
115, 305
156, 162
51,
21 4,
399,
196,
102,
125,
753
54, 945
76, 554
729 ' 212, 065 194, 900
993
280, 243
392, 153
899
150, 917
185.614
868
89, 482
104, 961
128,403
910
132, 584
37, 710
49, 814
172, 162 ' 185, 152
280, 740
286, 450
152,317
169, 744
104, 897
106, 499
112,752
127,058
42
173,
285
146
104
97
850
836
943
••745
535
271
171
986
689
665
33, 878
149 181
277 712
150 228
128 440
96, 633
47, 657
197, 019
324, 487
144, 987
118, 302
110, 401
24, 315
145, 739
237 455
128, 432
114 681
92, 931
5,406
27, 844
4,076
28, 740
4,501
29, 136
4,287
23, 416
3,636
17, 525
3,589
18, 076
2,991
20, 411
3 546
13 952
2,758
18, 729
2 338
6 876
10, 822
3,561
26, 816
34, 549
36', 385
12, 647
41,632
13, 924
3,047
7,225
33, 695
47, 819
10, 593
37, 624
12, 599
2,938
2,090
36, 303
41, 471
9,740
31, 847
12, 936
2,965
2,433
22, 930
41, 042
8,434
36, 335
7,937
2,816
10, 606
2,616
11, 419
2,167
16, 580
34, 333
7,944
28, 954
14, 177
42, 586
6,605
32, 821
14, 986
32, 147
5,813
38 966
8,064
1,839
714
9,977
24, 479
4,243
35, 190
13, 333
2,037
3,250
17, 328
39, 237
12, 032
41, 425
10 179
1 275
3,400
16 818
34 238
9 616
19 601
56, 792
72, 542
54, 186
3,077
61, 770
42, 700
81, 742
52, 911
62, 063
59, 186
51, 872
25, 423
64, 137
23, 370
22, 868
63, 412
19, 139
26, 853
63, 379
20, 420
29, 279
59, 107
28, 407
32 175
64, 177
23, 873
30, 717
60, 807
37, 627
36 960
33 Q68
27 523
76, 156
78, 274
50, 294
53, 203
52, 346
55, 905
42, 496
54, 934
28 997
384
60
422
f
188, 474 ' 196, 836 185, 596 r 150, 844
254, 283 | 214, 093
221, 369
203, 379
9.858
6,110
8,307
13, 689
36, 019
28, 948
33, 974
28, 690
12, 346
14, 527
14, 230
12, 625
14, 698
19, 336
14, 115
13, 335
27, 240
29, 527
29, 241
25, 531
42, 192
44, 489
32, 993
36, 078
45, 984
54, 516
43,347
44, 278
1,156
965
128
820
80
280
60
21
122
' 169, 739 f 152, 314 * 146, 983 ' 150, 188 ' 144, 982
204,310
217, 400
214, 270
190, 488
207, 879
13, 731
11, 530
10, 322
8,730
9, 419
25, 025
32, 918
19 464
18 954
18 915
10, 071
12, 920
9 289
12 698
8 952
9,662
11, 738
11 644
12 456
16 403
26, 610
30, 963
32 872
38 254
34 777
30, 796
31, 456
35 ggs
37 676
35 671
41, 799
38, 438
33 014
34 287
36 763
1,082
1,093
889
872
896
844
829
934
13
128,
196
10
18
6
14
32
39
30
430
644
751
672
823
261
508
244
965
r
736
823
405
139
530
413
170, 517
144, 723
76, 909
139, 109
632, 816
196,
98,
97,
133,
630,
206
538
029
505
720
173, 500
139, 075
86, 132
1 27, 224
556, 323
179, 646
111,521
86, 958
125, 859
589, 324
97, 875
98, 529
71, 411
104, 652
516, 581
108, 346
124, 509
49, 726
100, 590
488, 892
122, 821
102, 400
52, 437
104, 389
514, 449
133, 784
83, 982
63, 495
86, 786
475, 791
130, 476
94, 245
59, 198
83, 640
461, 128
171, 884
91, 834
63, 826
101, 143
505, 362
121, 899
66 600
49 109
77 509
419 460
338, 367
85, 049
18, 136
143, 356
13, 558
362, 864
98, 538
23, 642
148, 701
17, 690
341, 983
100, 674
18, 352
114, 239
24, 751
343, 407
80, 653
15, 469
151, 083
17, 901
320, 158
90, 191
13, 813
118, 565
21, 716
235, 438
38, 607
10, 799
110, 907
14, 140
244, 509
28, 381
9,389
125, 374
12, 938
245, 842
36, 126
11, 299
105, 949
12 321
260, 071
69, 358
18, 402
93,117
10 213
258, 919
71, 704
16,129
99, 324
12, 599
299, 853
106, 050
14, 893
104, 866
14 177
224, 510
84 414
10, 107
80 343
10 366
694, 943
14, 135
70, 096
67, 534
5,358
59, 316
191, 082
10, 535
26, 835
37, 338
15, 566
91, 031
49, 651
60, 599
761
738, 848
801, 209
814, 014
773, 149
653, 610
627, 554
650, 653 1583, 768
569, 767
634, 197
510, 067
1
i 8, 673
15, 282
15, 094
i 7, 449
1 7, 891
i 6, 776
l 7, 224
15, 257
i 7, 702
10, 954 1 11, 386
1
64, 968
77. 598
61, 374
73, 350
1 59, 525 i 53, 421
i 44, 441
1 56, 633 i 53, 359
i 41, 434
44, 015
63,732
76, 768
74, 223
64, 378
58, 801
62, 175
58, 549
58, 190
58, 397
67, 047
50 259
7,738
7,396
5,716
7,832
4,243
5,514
3,539
5, 053
3,727
9 390
4 717
68, 424
76, 711
70, 439
67, 795
78, 761
64, 125
67, 699
37, 768
26, 227
48 866
41 436
220, 948
231,907 * 206, 564 1 223, 165 1 202, 673 * 179, 053 l 191, 715 i 175, 995 i 169, 082 * 202, 808 1 161, 646
12, 461
14. 010
14, 785
11,332
13, 041
8,892
10 108
7 897
6 838
7 808
6 527
31, 867
31, 593
1 25, 938 1 26, 644
i 24, 372 1 20, 978 1 24, 192 i 20, 700 1 19, 540 1 23, 412 1 22, 580
1
43, 313
43,513
i 34, 638
i 31 824 i 37 74g
i 27 457
1 36, 701 133,712
35, 290 131 050
133 977
17, 049
17, 484
15,315
19, 194
17, 109
14, 836
15, 792
16, 046
16, 238
17, 008
13, 837
104, 124
95, 931
113, 888
107, 957
89, 520
79, 794
76, 145
74, 943
91, 584
90, 580
70, 522
QO CQ1
53, 270
54, 252
54, 042
47, 193
39, 965
48 708
40 397
35 373
42 694
40 419
65, 218
61, 525
55, 402
57, 964
45, 767
44, 085
50, 270
49, 874
43,' 864
49! 591
33. 581
f Revised.
i Excludes "special category" exports not shown separately in the interest of national security.
JRevisions for various periods in 1947 and 1948 have been made (since publication of the 1949 STATISTICAL SUPPLEMENT) in most of the foreign-trade items and there will be further changes
beginning 1946 as final data are completed by the Bureau of the Census; moreover, the revaluation of tin imports and the transfer of certain "relief and charity" food items from the nonagricultural exports group to the agricultural group have affected the pertinent series back to 1942. Revisions will be shown later.
tRevised series. Figures beginning January 1949 have been revised to include data for Newfoundland and Labrador. Data for January 1949 are as follows (thous of dol ) • Exports 148 899imports, 127,020.
'
'
cf Data beginning 1948 have been adjusted in accordance with the 1949 commodity classifications. Revised figures for January-July 1948 are available upon request.
*New series; included with agricultural machinery prior to 1948.
SURVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
April 1950
1950
1949
February
March
April
May
June
July
August
September
October
November
December
January
February
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TBADE§— Continued
V alue— Continued
534, 296
540, 630
525, 964
456, 413
632, 630
490, 747
566, 691
General imports, total
thous. of dol
By geographic regions:
24, 854
27, 632
23,
491
47,
397
21,101
20, 014
28,
997
Africa
do
126, 670
106, 298
94, 060
124, 430
101, 604
128, 177
128, 246
A q ia and. Oceania
do
90, 521
69, 156
66, 824
67, 240
58, 355
64, 297
89, 377
Europe _
do
131, 306
133, 302
122, 029
130, 194
108, 068
120, 960
117, 557
Northern North America
do
108, 796
81, 608
68, 441
86, 133
81, 571
68, 610
91, 759
Southern North America
do
109,
962
110,
101
109,
963
103,
997
124,
437
115, 263
114,
571
South America
_
do
By leading countries:
Africa:
429
76
231
367
189
62
342
Egypt
do
6,295
7,286
7,097
9,339
12, 693
8,119
7,567
Union of South Africa
_ do _
Asia and Oceania:
11,812
5,318
13,913
2,727
5,183
11,772
9,570
Australia, including New Guinea
_ _ do._
9, 901
25, 745
13, 808
25, 185
17,082
13, 639
10, 822
British Malaya
do
5,805
5,
987
8,011
6,
501
7,749
8,
846
15,757
China
do. ..
21,833
25, 278
29, 582
20, 949
25, 949
17, 252
14, 140
India and Pakistan
do
6,
355
5,
535
6,637
9,209
7,
625
5,771
5,574
Japan
_ . __ do
8,979
12,117
10,833
11,368
8,758
7,260
8,970
Indonesia
do
15, 075
15, 165
17, 029
22, 856
20, 442
21, 813
20, 569
Republic of the Philippines _
_ do
Europe:
5,464
5,247
3,802
5, 847
3,672
3,872
4,998
France _ _ __ _ _
_ ._
do__ .
2, 896
6,154
4, 371
4,994
4, 606
2, 836
1,499
Germany
do
6, 326
6,398
4,430
3,789
5,788
5,430
6,817
Italy .
_
_ _ _ _ do
1,318
3, 257
4,293
4, 209
2,961
4,637
Union of Soviet Socialist Republics
do
3,531
22, 695
14, 105
14, 707
15,232
20, 550
16,102
United Kingdom. __
.
__.do__ _
15, 106
North and South America:
Canada, incl. Newfoundland and Labrador!
thous. of dol__ »• 117, 557 r 133, 302 »• 122, 029 * 130,194 r 131, 108 «• 108, 067 >• 120, 552
185, 005
221,714
181,044
162, 131
181,887
174, 557
Latin-American Republics, total
_ do . „ 195, 311
4, 500
3, 869
6, 790
7,532
5,637
5, 044
11,111
Argentina
do
41,919
39, 278
34, 163
33, 451
36, 943
34, 000
39, 866
Brazil
do.
19, 530
13, 528
18, 760
14, 367
7,648
18, 552
11,955
Chile
do
16, 198
16. 237
21,923
14, 168
18, 324
22, 609
21, 844
Colombia _ _ _ _
do _ _
36,516
37, 415
47, 459
37, 423
35, 080
30, 363
33, 349
Cuba
do
24,
664
21,
725
23,
761
25,
963
19,
918
13,
356
15, 081
Mexico _
_
_ _ __do
22, 628
23, 620
20, 755
23, 114
21, 022
21, 680
20, 820
Venezuela
do
624,
093
526,
903
533,
635
529,
489
458,
938
554,
757
513,
086
Imports for consumption, total
do_ _.
By economic classes:
158, 101
164, 122
145, 509
126, 178
154, 123
149, 220
137,883
Crude materials
do
131, 165
109, 913
102, 098
92, 462
90, 189
99, 468
91, 746
Crude foodstuffs
do
65, 124
58, 105
73, 315
60, 917
68, 997
68, 118
69, 227
Manufactured foodstuffs and beverages, -do
130, 172 .137,972
110, 697
114, 362
110. 598
84, 856
114, 424
Semimanufactures
do
99, 867
105, 965
90, 318
108, 910
117, 519
99, 456
99, 806
Finished manufactures. __ ___ _ __ _ _ d o
By principal commodities:
238, 350
205, 067
275,163 227, 046
216, 116
233, 310
225, 334
Agricultural products, total
_
do.
73, 671
57, 430
58, 906
58, 542
48, 995
56. 038
55, 294
Coffee
do
5, 465
7,051
5,439
6, 168
4,780
6,173
7,044
Hides and skins
do
21, 698
19, 387
16, 649
22, 580
19, 933
19, 198
17, 171
Rubber, crude, including guayule
do
34
42
86
23
1, 006
3, 129
45
Silk unmanufactured
do
44, 628
36, 525
32, 659
35, 292
39, 730
38, 186
37, 683
Sugar
-- _ do
16, 428
15, 605
10,813
10, 629
11,671
20, 734
21,820
Wool and mohair, unmanufactured
do
348, 930
299, 858
296, 179
253, 871
316, 408
317, 519
287, 753
Non agricultural products, total
._ _do _
7,012
9,127
11, 936
8,100
9,270
8,270
11, 457
Furs and manufactures
_
do
Nonferrous ores, metals, and manufactures,
72, 041
66, 571
86, 959
73, 767
66, 374
39, 486
59, 252
total
thous. of dol
26, 120
28, 967
21, 582
20, 558
17.763
11,007
15, 196
Copper, incl. ore and manufactures.. .do
26, 683
11,685
28, 383
13, 495
18, 892
11,007
17, 518
Tin, including ore
_ __ _ do. .
17, 948
14, 253
20, 450
17,838
17,619
12, 427
16, 495
Paper base stocks
do
35, 942
37, 404
37, 261
38, 192
34, 210
34, 200
39, 195
Newsprint
_
_ do__ .
36, 490
35, 875
38, 244
36, 855
37, 473
35, 546
36, 820
Petroleum and products
do_ -
r
530, 794
559, 106
593, 694
605, 068
622, 698
29, 182
97, 722
78, 947
119, 571
68, 631
136, 742
27, 105
110,047
79, 954
139, 352
69, 770
132, 878
27, 214
118, 257
89,611
157, 379
69, 022
132, 210
34, 342
106, 957
81,030
145, 348
69, 716
167, 676
26, 394
127, 565
89, 337
127, 895
88, 458
163, 049
6,907
9,658
170
12, 439
295
14, 010
404
12, 288
3,290
6,540
4,647
15, 496
6,470
18, 573
6,792
10, 086
16, 166
5,153
15, 475
9,430
20, 545
6, 275
12, 090
17, 043
6,587
18, 589
13, 304
22, 670
8,035
10, 628
14, 962
11, 638
12, 702
6,729
23, 131
7,013
9,289
10, 175
18, 006
19, 121
8, 639
21,362
9, 553
8, 958
15, 045
4,844
2,484
4,406
7,090
20, 623
4,996
2,588
7, 518
2, 765
18, 919
6,580
4,054
6, 634
1, 766
22, 718
5, 456
4, 333
5,778
1,700
21, 210
5,466
4, 563
5,121
2,437
18, 168
119,571
193,458
6,716
53, 784
10, 046
20, 604
32, 670
15, 670
23, 357
528, 887
r 139, 201
188, 702
8,767
48, 851
6,519
23, 754
32, 014
16, 772
27. 004
561, 906
157, 177
189, 204
6,079
61, 518
7,547
22, 716
27, 586
19, 562
22, 624
592, 542
' 144, 996
221, 507
16, 247
80, 747
8, 933
21,345
12, 553
23, 478
27, 565
595, 065
127, 895
235, 282
19, 007
55, 243
9,912
30, 004
18, 625
27, 261
32, 232
621,755
160, 163
103, 233
59, 467
106, 284
99, 740
160, 669
110, 520
64, 824
121, 122
104, 770
154, 772
139, 790
61, 783
129, 863
106, 334
162. 817
152, 994
41, 386
133, 963
103, 904
183,716
154, 319
46, 582
137, 663
99, 475
239, 533
65, 992
6, 661
15, 165
71
27, 741
22, 553
289, 354
11, 002
242, 027
65,812
6,045
15, 892
156
29, 276
22, 472
319, 879
13, 651
271 , 078
77, 582
5,646
22, 339
115
23, 758
22, 138
321, 464
4,542
272, 295
105, 684
6,470
22, 631
301
6,827
26, 053
322, 770
7,828
292, 284
104, 885
7, 539
19, 834
1 238
15,782
37, 061
329, 471
11, 368
51, 021
13, 179
21, 370
13, 677
33, 636
38, 191
59, 711
13, 024
26, 707
19, 132
37, 498
46, 281
56, 411
14, 377
17, 850
24, 318
35, 735
43, 429
53, 588
19, 213
8,691
20, 868
38, 921
48, 576
r
598, 700
588, 700
63, 082
19, 253
17, 3RD
22 623
34, 576 i
54,428
TRANSPORTATION AND COMMUNICATIONS
TR AN SPORT ATION
Airlines
Operations on scheduled airlines:
Miles flown, revenue
_
thousands
Express and freight carried
short tons
Express and freight ton-miles flown _ _ thousands ._
Mail ton-miles
flown
_ do
Passengers carried revenue
do
Passenger-miles flown, revenue
do__
23, 144
11,819
7,598
3,207
868
421, 729
26, 852
15,871
10, 763
3,633
1,092
520, 960
26, 884
16, 489
10, 991
3,554
1,226
563, 013
28, 257
14, 766
8,921
3,320
1,311
594, 050
28, 089
14, 350
8,977
3,233
1,389
659, 605
29, 257
13, 082
8,177
2,915
1,342
621, 449
29, 370
15, 734
10,177
3,116
1,326
607, 332
28, 084
18, 161
11, 381
3,094
1,339
616, 559
28, 116
19, 014
11, 791
3,248
1,286
593, 402
26, 037
18, 709
11,425
3,310
1,080
490, 167
26, 014
22, 007
13, 460
4,952
941
464, 170
24, 946
15, 784
9, 714
3.302
' 915
468, 709
22,027
20
20, 235
42
19, 992
44
21, 810
19
20, 877
1
19, 736
4*5
19, 324
*4B
20, 487
51
19, 808
41
20, 077
18
23, 190
19
19, 566
54
9.1922
1,271
117,300
9. 2092
1,421
130,000
9. 2287
1,358
130, 400
9. 2895
1,331
127, 700
9. 3114
1,268
122, 000
9. 3869
1,169
116, 400
9. 4501
1, 193
121, 600
9. 4793
1,220
116, 800
9. 5158
1,265
125, 100
9. 5523
1,226
124, 200
9. 6399
1,293
135, 100
9. 8029
1,236
118, 600
9. 8029
1,135
3,391
410
49
193
240
69
299
416
1.714
2,339
205
16
162
217
75
33
353
1.277
2,638
559
26
160
206
52
52
334
1 . 95ft
2,393
435
48
126
162
37
46
298
1 . 9,41
2,288
259
42
140
157
29
46
320
1 . 907
Express Operations
Operating revenues
Operating income
_ _
thous, of dol
do
Local Transit Lines
Fares, average cash rate
Passengers carried, revenue
Operating re venuest
_
cents
millionsthous. of dol..
Class I Steam Railways
Freight carloadings (A. A. R.):d"
Total cars __
thousands..
2,767
3,345
3,099
3,603
3,078
2,762
2,923
Coal _
do
607
498
634
633
560
393
459
63
54
Coke
_ do_
70
59
57
35
38
Forest products
do
131
159
180
148
191
139
163
156
226
174
Grain and grain products. ._
do
188
279
291
216
Livestock
do_
34
43
39
37
38
41
33
52
303
Ore
__
do
105
266
396
311
277
369
374
Merchandise, 1. c. 1
do
480
445
378
364
329
Miscellaneous
do
1,356
1,743
1,381
1,350
1.232
1.637
1.364
r
d
Revised.
Deficit.
t See corresponding note on p. S-21.
§See note marked "t" on p. S-21.
JData for 1947 revised; see note marked "J" on p. S-22 of the September 1949 SURVEY.
cfData for March, June, September, and December 1949 are for 5 weeks; other months, 4 weeks.
3,121
626
59
180
214
48
66
385
1 . 543
SURVEY OF CURRENT BUSINESS
April 1950
S--23
1950
1949
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
February
March
April
May
June
July
August
September
October
November
December
January
February
TRANSPORTATION AND COMMUNICATIONS—Continued
TR AN SPORT ATION—Continued
Class I Steam Railways—Continued
Freight carloadings (Federal Reserve indexes) :
Total, unadjusted
1935-39=100—
Coal
- _
do
Coke
do
Forest products
do
Grain and grain products
_ _ do . .
Livestock
*
do
Ore
_.
.do- -Merchandise, 1 c. 1
do
Miscellaneous
_
__ .do.Total, adjusted
do
Coal
do
Coke
do Forest products
do
Grain and grain products
do
Livestock
do
Ore
- --do
Merchandise, 1 c 1
do
Miscellaneous
do
Freight-car surplus and shortage, daily average:
Car surplus, total
_ ._ _ ._ _
number. Box cars
_
do
Coal cars
__ _
.. __. _ _ _ _ d o _.
Car shortage, total
do
Box cars
__
do_
Coal cars
do
Financial operations (unadjusted):
Operating revenues, total
thous. of doL.
Freight
_ _-_
_do Passenger
do
Operating expenses
__ . -do
Tax accruals, joint facility and equipment rents
thous. of doL .
Net railway operating income
_
do
Net incomet
do
Financial operations, adjusted:
Operating revenues, total
mil. of dol
Freight
__ _
_
do
Passenger
do _
Railway expenses
_
do
Net railway operating income
_ _ do _ _
Net income __
_
do
Operating results:
Freight carried 1 mile
mil of ton-miles
Revenue per ton-mile
cents
Passengers carried 1 mile, revenue
millions
117
124
198
107
111
60
46
58
128
126
124
187
T
r
T
160
57
127
114
60
128
130
140
104
218
55
135
105
60
130
121
125
79
145
52
125
99
42
53
131
153
131
35
56
121
92
42
54
124
153
85
28
54
111
120
131
96
135
149
95
51
55
124
117
131
96
137
152
75
42
54
119
107
97
155
119
123
69
45
50
120
115
97
148
134
131
72
146
52
127
107
97
158
106
119
68
42
49
122
117
97
151
118
119
70
169
52
133
96
46
130
115
111
52
39
51
122
104
46
122
119
113
65
156
52
130
63, 822
11, 103
43, 570
2,451
2,254
113
74, 745
7, 697
62, 109
3,582
3,173
104
190, 978
3,451
183, 594
10, 924
10, 346
132
100, 208
2, 368
92, 938
5, 964
3,918
1 909
44, 382
8, 303
25, 833
1, 021
448
517
110, 945
17 425
77, 385
224
111
37
165, 541
11,701
139,311
569
414
16
648
811
564
818
742, 877
606. 201
78, 606
587, 116
694, 969
569, 491
69, 833
540, 988
648,
534,
60,
520,
924
885
993
920
704, 806
587, 060
63, 776
537, 354
657,
537,
69
546
044
338
725
665
584, 928
481, 965
57, 845
501, 118
85, 998
61, 263
42, 476
80, 493
50, 337
26, 8ol
90, 034
65, 727
39, 061
90, 444
63, 538
38, 131
81, 219
46, 786
23, 592
91,869
75, 582
54, 425
73, 229
69, 309
82, 455
77, 622
32 758
11 016
68, 574
15, 236
736.9
611.7
68.6
676.2
60.6
29.2
748.3
614.5
74.4
677. 0
71.3
37.8
700.9
570.1
75. 7
£49. 8
51.1
19.0
697.3
569.0
70.1
659.1
38.2
5.2
685.2
560.2
70.1
633.1
52.1
18.9
622 9
511.0
62. 3
591.9
31.0
0
708.5
588.8
66.7
636. 4
72.0
39.3
712. 1
584.0
73.0
631.5
80.6
r
49.1
688 6
565 0
72.8
628 9
59.8
28 3
50, 199
1.321
2,770
51, 607
1.283
2,735
47, 964
1.332
3,111
44, 991
1.345
3,385
47 107
1.338
3,256
44, 219
1.363
2,910
40 554
1.400
2,533
46 036
1.356
2,488
45 190
1.343
2,912
41 793
1 370
2 730
6,659
3,409
3,250
7,847
3,984
3,863
8, 352
4,441
3,911
8,401
4,586
3,816
7,300
4,008
3,292
7,486
4,098
3,390
7,285
3,888
3,396
6,494
3,396
3,099
6,367
3 433
2,934
6,458
3 479
2,979
5,619
3 095
2 523
1,981
877
2,554
1,280
2,525
1,174
2,426
1,049
2,330
1,116
2,387
1,047
1,979
928
2, 125
1,166
2,297
1,313
2,079
1 079
2,638
1 576
2 508
1 412
2 565
1 588
5.38
86
222
5.15
85
210
5.62
84
228
5.16
84
234
5.48
84
233
5.27
78
211
5.84
81
222
5.59
86
223
5.71
86
213
5.81
80
218
5.25
67
194
5.41
80
211
5.43
83
215
47, 540
48, 161
1,461
10, 965
21, 975
177
55, 907
54, 681
1,883
16,662
34, 761
243
50, 397
53, 899
2, 152
17, 074
32, 319
433
47, 743
53, 966
2,078
22, 038
34, 602
803
51, 062
71, 695
2,568
20, 809
32, 294
1,732
64, 588
1 77, 419
1
73, 171
i 41, 927
54, 039
i 37 141
39 205
131 601
40 723
i 37 182
40 553
i 42 sgg
p 24, 000
19, 688
3, 333
v 26, 000
19, 847
3 126
P 26, 000
15, 501
1,446
f 27, 000
13, 592
678
J> 22, 000
13 608
298
P 24, 000
13 932
188
22 069
187
943
8,600
941
8,663
868
7,883
796
7,370
887
8,135
841
7,731
825
7,587
833
7,732
807
7,512
785
7,260
830
7,750
247, 769
141, 270
88, 969
198, 130
22, 164
34, 129
245, 937
141, 955
86, 591
193,094
23, 958
34, 318
250, 363
143, 750
88, 844
197, 138
24, 266
34, 493
253, 432
146, 744
88, 828
196, 856
26, 458
34, 635
249, 852
144, 576
87, 490
195,617
24, 671
34, 766
258, 353
146, 891
93 449
199, 772
27, 433
34,902
257, 096
149, 629
89, 507
196, 780
28, 827
35, 059
262, 534
154, 018
90, 258
195, 137
33, 119
35, 231
262, 745
156, 367
88 159
196 809
32 277
35, 408
271, 879
159, 895
93, 536
205, 535
32, 729
35, 635
14, 955
14, 345
<*166
14, 354
14, 167
d
612
14, 819
14,d 228
15,098
13, 901
360
13, 582
13, 939
1, 123
14, 870
13, 964
156
14, 523
13, 420
314
13, 944
12, 984
253
13, 413
12, 673
62
14. 584
13, 363
596
13, 241
12, 756
2,090
1,662
232
1,944
1,696
55
2,078
1,675
180
2,019
1,822
1,826
1,764
1 892
1,733
!27
*20
1 948
1,617
149
1 817
1, 506
145
1 788
1,548
74
1 882
1,660
38
1 762
1,548
31
2,067
1,856
148
1,896
1,862
1,979
1, 843
52
1,950
1,845
16
1, 793
1,809
d
99
I 925
1,800
46
1 957
1,696
185
1 938
1,741
126
1 938
1,827
46
2 262
1,973
205
1 883
1,790
112
113
75
185
61
136
111
79
175
117
128
61
68
61
131
120
79
174
117
139
77
236
60
138
125
129
184
119
121
68
228
60
130
127
129
188
119
138
76
215
59
132
125
130
171
128
132
66
267
59
127
124
130
173
123
150
73
215
59
126
119
98
147
127
159
54
282
57
126
115
98
150
122
156
70
182
58
122
115
79
115
117
212
60
284
55
121
110
79
118
117
177
70
177
55
120
120
103
119
131
149
73
240
57
128
117
103
123
125
138
60, 063
14, 930
34, 917
549
103
320
114, 926
17, 803
87, 579
510
165
198
78, 336
28, 600
39, 994
236
35
74
49, 195
34, 365
4,321
375
71
164
60, 083
35, 263
14, 786
388
184
32
86, 418
17, 839
59, 834
1,741
1,632
5
675, 771
559, 206
67, 374
567, 795
739, 058
616, 074
67. 608
587, 933
747, 259
620, 293
68, 659
594, 270
741, 069
615, 923
67, 858
600, 852
735, 439
599, 507
77, 076
588, 177
77, 043
* 30, 934
4,635
85, 708
65,417
41, 494
88, 226
64, 763
39, 989
82, 621
57, 595
32, 209
739.7
609.0
74.7
688.5
51.3
20.4
721.6
596. 0
68.4
662.6
59.0
26.4
741.9
610.4
71.0
689.1
52.8
21.3
45, 359
1.314
2,740
46, 716
1. 3C7
2,744
5,691
2,849
2,841
r
700,
562,
82,
569,
710,
575,
74,
568,
830
664
379
292
Waterway Traffic
Clearances, vessels in foreign trade:
Total U. S. ports
thous. of net tons.
Foreign
do
United States
do
Panama Canal:
Total
__ thous. of long tons
In United States vessels
do
Travel
Hotels:
Average sale per occupied room
dollars _ _
Rooms occupied
percent of total
Restaurant sales index
same month 1929 =100. _
Foreign travel:
U. S. citizens, arrivals
_
number
U. S citizens, departures
do
Emigrants __ _ _
do
Immigrants
_ _ d o __
Passports issued _
__ _
do
National parks, visitors
thousands
Pullman Co.:
Revenue passenger-miles
millions-.
Passenger revenues
thous. of dol. .
79, 459
53 058
30 156
237
COMMUNICATION S
Telephone carriers:!
Operating revenues
thous. of dol. . 232, 667
Station revenues
do
137, 065
Tolls, message
... _. _ __ _do
78, 603
184, 629
Operating expenses, before taxes
do
Net operating income
do __
21,059
Phones in service, end of month
thousands..
33, 894
Telegraph, cable, and radiotelegraph carriers:
Wire-telegraph:
Operating revenues
thous. of dol. _ 13, 227
13, 171
Operating expenses, incl. depreciation
do
*756
Net operating revenues
_do
Ocean-cable:
1,931
Operating revenues
do
1,584
Operating expenses, incl. depreciation. _ _ do
137
Net operating revenues
do
Radiotelegraph :
1,844
Operating revenues
_ _ do __
1,747
Operating expenses, incl. depreciation
do
27
Net operating revenues. ___ __
do_ .»
*53
254
d
l
d
d
d ^SQ
d 20
T
Revised.
* Preliminary.
d Deficit.
JReyised data for January 1949, $12,445,000.
i Beginning July 1949, data exclude departures via international land borders; land-border departures during the 12 months ended June 1949 amounted to less than 1 percent of total departures.
t Revised series. The coverage has been reduced from 100-120 to 53 carriers; however, the comparability of the series, based on annual operating revenues, has been affected by less than
3.0 percent. Also, data are now shown after elimination of intercompany duplications for the Bell System; figures prior to August 1948 on the revised basis will be shown later. Data relate to
continental United States.
SURVEY OF CURRENT BUSINESS
S-24
Unless other-wise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
April 1950
1950
1949
February
March
April
May
June
July
August
September
October
November
December
January
124, 079
February
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:
Ammonia, synthetic anhydrous (commercial)
short tons-.
Calcium arsenate (commercial)
thous. of l b _ _
Calcium carbide (commercial)
short tons__
Carbon dioxide, liquid, gas, and solid
thous. of l b _ _
Chlorine
_ _ short tons
Hydrochloric acid (100% HC1)
do
Lead arsenate (acid and basic)
thous. of l b _ _
Nitric acid (100% HNOs)
short tons
Oxygen
mil. of cu ft
Phosphoric acid (50% HsPOiL-- -. - short tons-_
Soda ash, ammonia-soda process (98-100% Nas
Cos)
short tons. _
Sodium bichromate and chromate
do
Sodium hydroxide (100% NaOH)._
_ _do
Sodium silicate, soluble silicate glass (anhydrous)
_.
short tons
Sodium sulfate, Glauber's salt and crude salt
cake
short tons
Sulphuric acid (100% H 2 SO 4 ):
Production
do
Price, wholesale, 66°, tanks, at works
dol. per short ton_.
Organic chemicals:
Acetic acid (synthetic and natural), production
thous. of l b _ _
Acetic anhydride production
do
Acetyl salicylic acid (aspirin), product] on. .do
Alcohol, denatured:
Production
thous. of wine gal
Consumption (withdrawals).- _
do
Stocks
do
Alcohol, ethyl:
Production
thous. of proof gal
Stocks, total
do
In industrial alcohol bonded warehouses-do
In denaturing plants
_ _
do
Withdrawn for denaturing
do
Withdrawn tax-paid
do
Creosote oil, production
thous. of gal
Ethyl acetate (85%), production
thous. of l b _ _
Glycerin, refined (100% basis) :
High gravity and yellow distilled:
Production
thous. of lb_.
Consumption.
_
do
Stocks
do
Chemically pure:
Production
do
Consumption
._ __
do
Stocks
do
Methanol, production:
Natural (100%)
thous. of gal. _
Synthetic (100%)
do
Phthalic anhydride, production
thous. of Ib
56, 480
103, 418
129
58, 123
109, 306
1,159
50, 763
110, 129
1,515
45, 804
103, 217
1,871
47, 424
109, 505
3,070
44, 227
113, 894
2,969
42, 009
105, 443
0)
40, 286
108, 604
0)
47, 274
115, 667
1,151
55, 212
124, 900
1,548
55, 836
58, 183
136, 431
38, 994
4,089
90, 545
1,364
107, 134
73, 255
148, 693
42, 297
2,833
85, 680
1,471
113, 927
75. 758
140, 791
40, 267
1,627
101, 790
1,367
108, 045
103, 665
143, 718
37, 825
711
99, 800
1,286
111,040
116, 758
134. 572
34, 833
784
97, 476
1,048
97, 252
131, 141
139, 163
35, 978
0)
90, 382
1,042
101, 682
132, 266
147, 825
39, 709
(0
93, 308
1,184
109, 100
95, 085
147, 214
41, 030
0)
95, 721
1,174
111, 224
82, 139
151, 128
43, 616
0)
85, 208
829
124, 479
66, 259
155, 943
44, 668
676
91, 832
990
118, 217
66, 861 2 63, 180
168, 282 r 158, 202
44, 768 2 47, 871
3,217
890
575
99, 925 2 105,
1,308 ' 2 1, 369
113, 490 ' 122, 850
329, 076
7,987
188, 340
349, 849
8,116
192, 947
312, 647
7,105
175, 850
285. 741
5,286
176, 703
309. 379
4,648
170, 283
289, 943
4,029
163, 678
305, 469
5,575
175, 933
317, 406
5,552
182, 143
328, 899
5,938
189, 367
360, 971
5,781
196, 575
354. 412
fi, 726
201, 012
31, 683
35, 423
32, 579
43, 277
37, 658
26, 446
28, 284
37, 159
49.912
46, 073
67, 539
65, 623
60, 834
54, 485
48, 393
42, 176
58, 794
49, 377
56, 166
59, 012
868, 584
978, 251
908, 599
937, 255
859, 275
833, 063
871, 458
840, 955
891, 334
934, 916
17.00
17.00
17.00
17.00
17.00
17.00
17.00
17.00
17.00
17.00
17.00
17.00
34, 739
57, 807
1,069
30, 496
48, 157
609
29, 617
39, 459
804
29, 521
39, 775
940
25, 420
35, 334
1,009
29, 698
40, 528
250
31,638
50, 785
908
34, 788
62, 927
813
39. 667
68, 704
927
39, 923
70, 853
843
39, 824
72, 458
873
36, 765
69, 140
829
11, 121
10, 112
3,232
15, 121
14, 088
4,248
14, 468
12, 996
5,708
13. 883
12, 975
6,604
16, 575
14, 430
8,746
10, 097
10, 556
8,266
12,313
12, 444
8,126
13, 947
15. 341
6,732
14, 845
15, 259
6,313
14, 612
15, 574
5,358
13, 618
15, 077
3,899
14, 903
15, 335
3,464
13, 293
13, 215
3,429
22, 376
37, 727
37, 434
293
20, 165
3, 184
13, 435
3,646
28, 426
37, 741
37, 454
288
27, 834
2,944
13, 861
6,374
36, 232
43, 842
43, 373
469
27, 027
2,541
13, 250
6,416
33, 855
49, 942
49, 441
502
25, 770
3,022
13, 728
5,368
31, 796
51,015
50, 544
471
30, 593
3, 040
13, 215
5,479
23, 760
53, 788
53, 273
515
18, 663
2,664
10, 542
5,798
26, 660
56, 588
53, 527
3,061
25, 176
3,572
10, 005
6,424
22, 770
52, 426
50, 652
1, 775
24, 362
3,672
10, 492
5,339
22, 680
43, 133
41, 919
1,214
27, 117
3, 936
6,254
6,852
23, 181
37, 192
36, 223
969
26, 838
4,289
6,508
6,469
22, 549
33, 949
33, 204
745
24, 907
2,288
10, 314
6,456
»• 24, 688
31, 346
30, 450
896
27,411
2,750
10, 460
6,449
24, 254
28, 397
27, 713
685
24, 044
2,547
4,689
5,774
12, 679
6,234
6,305
12, 406
6,213
6,182
12, 936
6,089
6,341
12, 110
7,907
6, 668
13, 596
4,692
5,700
11,316
6,781
7,068
11, 580
7,528
7,397
11, 790
7,550
6.913
12, 123
7,879
6, 545
13, 103
6, 834
6,214
13, 591
6,927
5,971
14, 347
6,159
6,082
13, 564
8,956
6,921
21, 764
9,973
7,621
21, 307
8,910
7,065
20, 685
9,246
7,189
20, 393
8,617
6, 947
18,211
6,258
6,286
14, 926
11,591
8,181
15, 674
11,165
7,729
15,479
11,655
8,054
17, 214
12, 426
7, 916
17, 838
12, 335
7,209
20, 071
12, 840
9,174
22,411
12, 228
7,224
24, 645
172
12, 783
12, 815
187
14,038
12, 470
166
11,417
10. 192
223
8,864
9,507
146
7, 023
8,018
136
7,609
7,104
157
8,059
10, 103
146
9, 323
12, 602
165
11, 143
16, 284
165
9,789
16, 340
169
10, 628
18, 075
171
11,655
18, 174
145
739
207. 809
63, 127
129, 643
7,828
176, 584
141,302
86, 544
13, 333
548
375
258. 996
58, 420
161,062
9, 821
110,049
93, 061
66, 791
4, 430
2,198
308
264, 575
79, 592
172, 841
8,410
69, 454
54, 254
32, 681
8,130
1
520
310, 303
124, 806
155,912
9, 985
97, 236
86, 961
47, 695
4,737
2
489
391, 164
150, 907
186, 581
11, 540
87, 735
70, 828
26, 454
8,389
20
557
300, 251
159, 502
110, 806
5, 631
106, 389
88, 773
33, 163
5,135
4,738
992
336, 296
51, 893
265, 566
3,405
142, 225
98, 717
55, 563
5,433
26, 159
1,468
54.50
78, 290
54.50
114,025
54.50
77,015
52.25
105, 678
51.50
72, 787
51. 50
45, 485
51.50
27, 896
51.50
91, 803
90,917
C)
115, 976
(0
51, 317
0)
56, 849
2
58, 752
151,513
42, 821
3,756
2
101,
386
2
1, 252
120, 755
2
338, 552
7. 350
187. 201
319, 578
6,771
179, 400
41, 794
36. 410
31, 416
55, 845
' 60, 069
996, 565 21,019,803
54, 820
2
950, 073
17.00
FERTILIZERS
1,234
1,478
1,950
Consumption, (14 States)!
thous. of short tons__
250,058
254, 928
Exports, total
_
_
short tons _ _ 215, 591
104, 414
99, 590
98, 587
Nitrogenous materials
do
92. 242
138, 789
123, 799
Phosphate materials
__ _ do
9,133
7,993
8,116
Potash materials
___ _ _ _ _ _
do__
Imports, totnl
do-_ _ 144, 203
170, 937 «• 152, 977
Nitrogenous materials, total
do
130, 339
150, 466 ' 124, 009
88, 559
61, 341
82, 123
Nitrate of soda do__ _
464
Phosphate materials
_ ___ __ _ _ do
3,215
8,401
1,964
Potash materials
_
do
5,962
13, 130
Price, wholesale, nitrate of soda, crude, f. o. b. cars,
port warehouses
dol per short ton
54.50
54.50
54.50
90, 604
114,673
100, 338
Potash deliveries
short tons
Superphosphate (bulk):
856. 835 1,015,320
994, 691
Production
do
1 , 234, 569
802, 638
984, 456
Stocks, end of month
do
928. 882
824, 080
511
279
289, 754
351, 947
98. 064
87, 853
229, 784
162, 598
15, 392
8,103
120, 479 ' 118, 352
100, 699 •• 107, 241
52, 377
52, 610
13, 570
5, 066
0
0
54.50
103, 936
54.50
92, 825
829,083
810. 775
850, 563
876. 802
816, 724
836, 137 ' 802. 943 847, 537
820, 111
960, 752 1.161,919 1,264,676 1, 268, 682 1. 259, 932 1, 311, 085 1, 420, 577 1,495,731 1, 311, 549
NAVAL STORES
Rosin (gum and wood):
Production, quarterly total .. _ drums (520 Ib.) .
Stocks, end of quarter
do
Price, gum, wholesale, "WG" grade (Sav.), hulk*
dol. per 100 lb_.
Turpentine (gum and wood) :
Production, quarterly total
bbl. (50 gal.)_.
Stocks end of quarter
do
Price, gum, wholesale (Savannah),, dol. per gal__
525, 250
719, 140
362, 650
618, 230
7.15
.40
6.22
114, 860
229, 690
.41
5.68
.40
6.41
6.42
.39
183, 160
218, 490
.37
574, 840
840 920
6.49
----
6.53
6.70
~38~
194. 110
225, 070
.39
552, 940
929 960
6.60
----
6.58
6.66
----
170, 700
238, 660
.40
6.66
____
6.40
----
MISCELLANEOUS
Explosives (industrial), shipments:
Black blasting powder
thous. of Ib
1,730
1,333
1,269
1,286
1,081
1,068
1,509
1,606
1,595
2,436
2,212
1,999
1,803
High explosives
do
47, 507
55, 729
45, 883
57, 992
50, 982
45,443
53, 158
48, 548
47,608
47, 585
40, 130
40, 468
37, 389
Sulfur:
351,086
402, 711
Production
_
long tons
396, 447
399, 025
417,526
388,811
397, 024
389, 682 392, 805
392, 655
400, 564
401,232
376, 942
3, 234, 481 3, 202, 481 3,181,199 3. 168, 051 3. 168, 312 3. 142. 845 3. 156. 752 3. 139. 785 3. 097. 331 3.114.865 3. 099. 305 3. 074 5fi9 3 040 1QO
Stocks
do
T
2
Revised.
1 Not available for publication.
Beginning January 1950, figures are not strictly comparable with those for earlier periods because of the inclusion of data for plants not
previously reporting. Revised figures for 1948-49 including data for these plants (which account for less than 3.5 percent of the total production of the indicated chemicals) will be available
later.
fRevised series. Beginning in the January 1950 SURVEY, data for fertilizer consumption in 14 States have been substituted for the 13-States series formerly shown; revised figures prior
to November 1948 will shown later.
*New series. The series for rosin "WG" (window glass) grade, which is compiled by the 17. S. Department of Labor beginning November 1948, and prior to that month by the Oil, Paint
tmd Drug Reporter, has been substituted for the "H" grade formerly shown. Data beginning 1935 will be shown later.
SURVEY OF CURRENT BUSINESS
April 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-25
1950
1949
February
March
April
May
June
July
August
September
October
November
December
January
February
CHEMICALS AND ALLIED PRODUCTS—Continued
FATS, OILS, OILSEEDS, AND
BYPRODUCTS
Animal fats, greases, and oils:
Animal fats:
Production
thous. of lb_. 303, 420
94, 838
Consumption, factory
do
485, 516
Stocks, end of month _ _
do
Greases:
50, 232
Production
do
45, 023
Consumption, factory
do
107, 603
Stocks, end of month
do
Fish oils:
741
Production
do
10, 733
Consumption, factory
_ do __
104, 404
Stocks end of month
do
Vegetable oils, oilseeds, and byproducts:
Vegetable oils, total:
449
Production, crude
mil. of lb__
414
Consumption, crude, factory _
do
Stocks, end of month:
808
Crude
- -do
423
Refined
do
29, 596
Exports f
thous. of lb_.
30, 545
Imports total
do
11, 492
Paint oils
do
19, 053
All other vegetable oils
_ do
Copra:
17, 624
Consumption factory
short tons
19, 559
Stocks, end of month
_
do
20, 638
Imports
do
Coconut or copra oil:
Production:
23, 014
Crude
-thous. of lb__
20, 545
Refined
.
__ do _
Consumption, factory:
38, 592
Crude
_ __ do _
17, 838
Refined
do
Stocks, end of month:
63, 978
Crude
do
11, 423
Refined
-- do _
6,950
Imports
_ do
Cottonseed:
115
Receipts at mills
thous. of short tons_.
520
Consumption (crush)
do
1,260
Stocks at mills, end of month
__do __
Cottonseed cake and meal:
Production
short tons._ 231,639
92, 253
Stocks at mills end of month
do
Cottonseed oil, crude:
167, 157
Production
thous. of Ib
198, 729
Stocks end of month
do
Cottonseed oil, refined:
141, 105
Production
do
122, 995
Consumption factory
__ -- do
38, 635
In oleomargarine
do
220, 937
Stocks end of month
do
Price, wholesale, summer, yellow, prime (N. Y.)
.155
dol. per lb._
Flaxseed:
Production (crop estimate)
thous. of bu
Oil mills:
3,006
Consumption
- do
5,313
Stocks, end of month.
__ do
20
Imports
-do
6.00
Price, wholesale, No. 1 (Minn.)
dol. per bu_
Linseed oil:
58, 542
Production
thous. of Ib
27, 663
Consumption, factory
__ _ _
- do
239, 449
Stocks at factory, end of month
do
.288
Price, wholesale (N. Y)
dol. per lb__
Soybeans:
Production (crop estimate)
thous. of bu
15, 520
Consumption, factory
do
44,415
Stocks end of month
do
Soybean oil:
Production:
151, 137
Crude
- thous. of Ib
125, 950
Refined
do
Consumption, factory, refined .._. _
,
do
103, 591
Stocks, end of month:
140, 245
Crude
do
119, 744
Refined
do
.173
Price, wholesale, edible (N. Y.)
dol. perlb__
r
l
2
Revised.
December 1 estimate.
No sales.
fRevised series. Beginning in the September 1949 SURVEY
306, 947
111,062
446, 760
270, 742
94, 188
408, 634
272, 192
109, 734
368, 929
275, 069
105, 502
319, 521
254, 842
61,981
322, 974
264, 394
120, 143
292, 421
248, 888
119, 516
265, 758
288, 318
117, 519
240, 962
338, 009
106, 627
251, 195
378, 469
96, 214
316, 248
r 363, 933
r 111 714
360, 842
287, 055
103 724
344 466
51, 138
48, 539
109, 933
46, 852
43, 564
110, 882
49, 170
38, 425
113,706
50, 505
41, 590
124, 927
45, 702
32, 951
129, 265
46, 753
41,895
124, 518
44, 706
46, 031
117, 852
48, 110
42 016
116, 477
54, 861
42 911
112,412
55, 935
43, 794
111, 379
53 954
42 005
113,753
48 956
40 593
111 314
879
13, 395
88, 713
1,063
9,653
80, 946
4,717
10, 753
78, 176
13, 599
12, 377
78, 442
12, 735
11,126
69, 511
18, 362
12, 823
79, 062
21, 962
17, 667
92, 245
24 908
20 865
102 849
8 438
15 364
94 776
10 076
14, 777
106, 261
4 833
15 236
103 076
15 438
87 502
469
450
381
405
374
384
379
368
338
307
361
380
464
417
601
480
601
496
553
456
r541
475
470
450
812
448
47, 741
' 23, 126
5,739
r
17, 387
736
462
97, 268
8,827
2,802
6,025
735
376
115,017
13, 955
2,108
11, 787
732
266
«• 1 087
1 073
71, 885
32, 589
2,811
29, 778
718
188
31,179
31,096
4,505
26, 592
1,048
60, 173
24, 378
1,609
22, 769
29, 982
38, 516
4,925
33, 591
36, 630
28 785
10, 616
18 169
71, 986
35 654
11, 689
23 966
48, 924
22, 024
5, 535
16, 489
60 199
20 873
1 726
19 147
25, 148
16, 618
26, 006
19, 754
14, 337
22, 677
30, 203
15, 536
32, 655
36, 773
15, 034
40, 940
26, 914
12, 769
27, 909
34, 932
10, 010
38, 594
38, 306
8,333
51, 251
46 206
18, 710
60 027
43 723
21, 998
52 913
33, 180
22, 328
32, 798
36 640
23 784
44 625
25 515
17, 725
32, 682
21, 522
25, 762
28, 162
38, 933
24, 473
47, 231
25, 022
34, 368
23, 139
44, 961
29, 168
48, 892
30, 374
58, 979
29, 169
55, 482
25 363
42, 726
24, 304
46 743
22 515
32, 381
21 358
42, 566
22, 533
46, 903
25, 224
42, 585
22, 827
44, 905
24, 483
36,014
19, 689
53, 219
28, 147
54, 538
26, 248
55 248
25, 914
48 532
23, 287
45, 222
22, 344
43 763
20 617
40 787
20, 708
64, 224
7,893
7,796
47, 880
8,805
2,330
56, 132
9,063
7,852
71,318
8,477
8,442
82, 365
8,728
14,512
83, 124
6,723
14, 485
101, 042
7,945
17,020
112,977
8 283
8,442
134, 570
8 676
11, 158
146, 739
9,016
6,015
179 560
9 893
10 675
183, 139
8 446
94
473
881
30
325
586
19
262
343
15
197
162
117
147
132
353
207
278
1,248
586
941
1,575
2, 112
1,884
209, 422
95, 907
143, 338
95, 806
117, 678
104, 700
85, 660
88, 354
66, 340
65, 949
94, 081
52, 759
253, 763
98, 076
334, 030
116 912
355, 146
123 518
309. 772
142, 801
235, 130
r 289, 039
' 175 724 196 406
153,918
184, 758
107,085
168, 447
87, 873
118, 896
65, 569
76, 240
48, 656
52, 233
64, 805
40, 908
184, 291
88, 766
242 687
123 462
252, 640
162 355
217, 619
181 587
r 210 781
171 922
173 826
146 885
150, 595
133, 361
40, 819
242, 512
119, 975
124, 750
32, 771
236, 197
115,419
125, 584
30, 560
227, 587
97, 996
138, 639
32, 728
186, 268
61, 255
110, 959
28, 882
132, 766
71,976
142, 409
37, 530
72, 590
] 13, 309
115,282
32 076
69, 708
178, 666
129 424
35 728
125 176
188, 938
144, 799
36 049
174 Q81
172, 940
133, 830
41, 205
218 210
175, 927
145 547
47 649
255 630
174, 054
158 713
.143
.136
.134
.122
.125
.158
.140
.129
.118
.123
.130
.138
2 937
5,058
2 752
3,928
739
319
776
171
856
231
1,382
748
963
288
338
450
677
1,322
785
1
3,177
3,142
46
6.00
2,241
2,104
13
6.00
2,393
1,960
10
(2)
(2)
60, 949
31, 966
270, 035
.288
43, 510
25, 432
310, 827
.288
45, 497
23, 734
321, 765
.288
17, 032
36,305
15, 937
29,029
167, 689
137, 081
130, 314
132, 959
123 562
.154
386
179
654
1,409
493
404
262
533
1,137
273 525
43, 664
3,505
2,227
0
3.86
3,985
4,932
0
3.91
3,886
8,139
0
3.94
3 468
7,553
3.85
3.93
3.92
3.95
3.88
70, 927
26, 402
363, 431
.276
69, 949
35, 262
378, 788
.250
77, 071
42, 723
407, 230
.216
72, 923
49, 884
421, 115
.208
67 803
44 411
433 921
.192
62 856
36, 376
462 934
.186
61,681
30, 518
485 112
.185
57 066
32 292
515 697
!l84
53 469
33 619
531 932
.185
15, 459
22, 992
15, 264
18, 333
15, 302
12, 477
13, 551
6,549
11,996
10 606
17 522
63 581
17 139
70 914
1 222 305
17 290
66 508
16 909
59 398
15 466
54 214
156, 088
127, 425
130, 934
154, 183
118 045
123, 969
150, 583
124 209
120, 798
155, 148
110, 190
97, 345
136, 015
135, 106
141, 462
120, 756
127 703
136, 199
172 491
125 902
119 778
165 473
133 442
129 801
166 855
119 251
104 727
165 088
130 317
117' 599
153 046
118 749
111 398
105, 365
112 523
.158
88, 631
102 045
.154
82, 793
93 929
.141
90, 881
92 807
.142
71,925
76 384
.175
56 223
56 790
'.157
67 314
55 410
.145
69 405
57 976
!l42
90 116
59 985
'.148
82 877
66 650
!l50
78 911
66 791
.153
3,528
1,513
,data include oleomargarine of vegetable or animal origin.
o
3, 254
6,982
0
3,194
5,412
0
0
SUKVEY OF CUERENT BUSINESS
S-26
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
April 1950
1950
1949
February
March
April
May
June
July
August
September
October
November
December
January
75, 471
73, 938
71, 278
73, 072
76, 948
76, 854
84, 237
83,942
February
CHEMICALS AND ALLIED PRODUCTS—Continued
FATS, OILS, ETC,— Continued
Vegetable oils, oilseeds, etc.— Continued
Oleomargarine:
Production
thous. of Ib
Consumption (tax-paid withdrawals)
do
Price, wholesale, vegetable, delivered (Chicago)
dol. per lb._
Shortenings and compounds:
Production
.thous. of Ib
Stocks end of month
do _
76, 061
75, 032
80, 120
78, 984
65, 665
64, 722
59, 725
60, 419
63, 610
61, 970
56, 118
55, 366
79, 106
79, 346
74, 408
71, 172
.269
.256
.229
.224
.224
.224
.248
.249
.224
.224
.224
.224
.224
112, 150
70, 850
125, 607
72, 800
119, 576
80, 436
125, 908
84, 851
122, 213
85, 821
83, 355
64, 438
156, 696
52, 851
133, 849
59, 315
123, 178
62, 860
139, 965
61, 889
125, 783
81, 722
135, 591
71, 190
145, 489
66, 407
Paint, varnish, lacquer, and filler, total
thous. of dol__
Classified total
do
Industrial
__do
Trade
do ___
Unclassified
_ do
70, 190
63, 968
26, 124
37, 844
6,222
84, 124
75, 938
30, 178
45, 760
8,186
86, 236
77, 852
28, 473
49, 379
8,384
89, 083
79, 913
27, 582
52, 331
9,170
88, 465
79, 546
28, 755
50, 791
8,919
74,215
67, 613
25, 775
41, 839
6,601
87, 911
79, 375
30, 821
48, 554
8,537
84, 376
75, 453
30, 227
45, 225
8,923
76, 219
69, 016
28, 682
40, 334
7,203
67, 128
60,719
25, 215
35, 503
6,409
57, 445
52, 061
23, 491
28, 570
5,383
'r 75, 936
68 887
r
27, 684
r
41 203
7, 049
70, 789
64 556
27, 137
37, 419
6,233
SYNTHETIC PLASTICS AND RESIN
MATERIALS
Production:*
Cellulose acetate and mixed ester plastics:
Sheets, rods, and tubes
thous. of Ib
Molding and extrusion materials
do _
Nitrocellulose, sheets, rods, and tubes. _ _ _ do
Other cellulose plastics
do
Phenolic and other tar acid resins.
do
Polystyrene
do
Urea and melamrne resins.
_ _ _ do
Vinyl resins ... _ ._
_ do. __
Alkyd resins
_
__ _ do
Rosin modifications
_ __do
Miscellaneous resins .
_. __do
1,521
4,322
691
890
20, 195
14, 920
10, 641
19, 065
15, 242
7,098
17, 095
1,563
4,548
728
1,010
20, 585
17, 257
9,248
22, 219
16, 038
7,848
16, 084
1,329
4,610
750
1,022
18, 260
17, 548
8,500
23, 613
16, 069
8,182
14, 547
1,650
3,449
754
709
14, 828
16, 331
8,049
20, 407
17, 853
7,516
14, 162
1,242
4,303
626
176
14, 952
15,029
7, 931
20, 636
19, 149
7,584
14, 825
1,332
3,431
372
433
11,232
15, 905
6,273
18, 853
17, 304
6,631
14,877
1,405
4,626
517
113
17, 834
19, 749
9, 569
23, 663
19, 258
8,103
16, 646
1,530
5,798
431
712
22, 569
20,723
10, 299
29, 098
21,114
9,912
19, 399
2,138
6,904
453
749
25, 056
22, 156
13, 239
31, 786
20, 787
10, 728
18, 896
1,962
5,183
440
950
28, 684
20, 901
13, 568
33, 503
20, 619
9,777
18, 709
1,674
4,638
485
972
«• 25, 811
20
137
r
13, 389
33,
036
r
17, 902
r
8, 086
18 861
1,938
5,387
542
825
27, 274
20 097
12 875
33, 071
18 406
8,023
21 130
PAINT SALES
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total
27, 463
mil. of kw.-hr__
22,996
Electric utilities total
do
15, 701
By fuels
do __
7,295
By water power _.
_.
_ _ do
Privately and municipally owned utilities
19, 506
mil. of kw.-hr__
3,490
Other producers
do
4,467
Industrial establishments, total
do
4,027
By fuels
do
440
By water power
_
_
_ ._ do
_
Sales to ultimate customers, total (Edison Electric
Institute)
mil. of kw.-hr_. 21, 143
Commercial and industrial:
3,835
Small light and power
do
10, 220
Large light and power _ ._
do __
532
Railways and railroads
do
5,269
Residential or domestic
__ _ _
do
456
Rural (distinct rural rates)
do __
233
Street and highway lighting _ _
do
550
Other public authorities
_ do __
48
Interdepartmental
_ _ _ _
..do
Revenue from sales to ultimate customers (Edison
Electric Institute)
thous. of dol._ 389, 527
29, 514
24, 721
13,585
8,136
27, 745
23, 215
15,057
8,158
27, 875
23, 348
15, 290
8,058
28, 025
23,617
16,393
7,224
27, 946
23, 684
16, 355
7,330
29,492
25 021
17, 672
7,349
28, 358
23 922
16, 946
6,976
28,110
24 288
17, 353
6,936
28, 539
24 328
17, 467
6,861
31, 096
26 321
18 705
7,616
31, 677
26? 871
18 537
8 334
28, 789
24 270
16 528
7 741
21, 028
3,694
4,793
4,327
466
19, 749
3,466
4,530
4,053
478
19, 785
3,563
4,526
4,048
479
20, 034
3,583
4,407
4,012
395
19, 973
3,711
4,262
3,881
381
20, 965
4,055
4,471
4,067
404
19, 934
3 987
4.436
4 055
382
20, 430
3 858
3,822
3 465
357
20, 781
3 548
4,211
3 837
374
22, 456
3 865
4^775
4 310
465
22, 893
3 979
4 805
4 36^
' 443
20, 637
3 632
4 519
4 082
' 437
20, 882
20, 420
19, 914
19, 904
19, 960
20,769
20 895
20, 293
20 690
21 951
22 943
3,709
10, 304
580
5,006
465
229
53(6
3,685
10,141
525
4,763
531
205
522
3,759
9,888
473
4, 375
664
178
522
46
3,975
9, 533
462
4,419
825
184
516
46
4 033
10 130
470
4,422
873
202
592
46
4 046
10 158
452
4 618
809
224
541
46
3 876
9,693
470
4,749
626
251
581
46
3 891
9' 835
499
5 031
541
272
572
49
4 048
10 319
555
5 600
' 506
291
580
52
4 181
10 602
536
6 276
409
287
602
49
371, 446
375, 419
382, 161
387, 529
383, 250
391 078
52
48
3,611
9,967
499
4,464
627
190
510
46
382, 150
374, 713
368, 578
410 417
_
__
425 325
GAS
Manufactured and mixed gas (quarterly) :
Customers, end of quarter, total
thousands..
Residential (incl. house-heating)
do
Industrial and commercial
do _
Sales to consumers, totaL. _ _ _ _ _ mil. of cu. ft
Residential
_ _ do_ __
Industrial and commercial.
do
Revenue from sales to consumers, total
thous. of dol__
Residential (incl. house-heating).
do
Industrial and commercial
do
Natural gas (quarterly) :
Customers, end of quarter, total _ thousands
Residential (incl. house-heating) __ _
do _
Industrial and commercial
_ do
Sales to consumers, total
__mil. of cu. ft
Residential (incl. house-heating) _ _ _
do
Industrial and commercial
do
Revenue from sales to consumers, total
thous. of dol_.
Residential (incl. house-heating) _
do
Industrial and commercial ^ -,„„-,_ . do. _
10, 590
9,885
697
186, 071
128, 942
55, 576
10, 541
9,842
691
139, 231
90, 229
47, 875
10, 262
9 582
672
101, 730
60, 288
40, 077
10 182
9 497
677
142 774
94 652
46 573
176, 698
131, 379
44, 272
144, 513
107,058
36, 725
113, 390
82 663
29, 641
145 570
108 202
36 318
11,971
10, 961
1,000
924, 244
390, 136
511, 640
12, 328
11, 293
1,026
715, 282
192, 659
501, 154
12 663
11 649
1,004
615 338
91, 452
492 683
13
12
1
820
238
550
358, 296
224, 031
130, 165
246, 490
127, 776
115,064
183, 487
74 471
103, 978
289 605
158 4967
125 93
T
310
194
107
431
854
395
r
Revised.
*New series. The data for production, compiled by the U. S. Tariff Commission beginning July 1948, are essentially comparable with the series for shipments and consumption (reported
by the Bureau of the Census} previously shown here, except for inventory changes (which tend to balance out over a short period) and the inclusion of a few companies not formerlv covered.
Data for alkyd resins and rosin modifications are not available prior to 1949.
SUEVEY OF CUEEENT BUSINESS
April 1950
Unless otherwise stated, statistics through
1948 and. descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-27
1950
1949
February
March
April
May
June
July
September
9,182
8,901
10, 033
7,392
7,285
9,836
August
October
November
December
January
6,122
6,438
9,252
5,774
6,095
8,686
6. 312
6, 246
8,484
6,146
5,597
8,775
5,842
5,523
8 849
February
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:
Production
thous. of bbl_.
Tax-paid withdrawals
- - do. Stocks end of month
do
Distilled spirits:
Production
thous. of tax gal_.
Consumption, apparent, for beverage purposes
thous. of wine gal__
Tax-paid withdrawals
thous of tax gal
Stocks end of month
do
Imports
thous. of proof gal__
Whisky:
Production
_ thous. of tax gaL.
T ax-paid withdrawals
do
Stocks, end of month
do
Imports
thous. of proof gal
Rectified spirits and wines, production, total
thous. of proof gal _.
Whisky
do _.
Wines and distilling materials:
Sparkling wines:
Production
thous. of wine gal
Tax-paid withdrawals
_ - do
Stocks end of month
do
Imports
-do
Still wines:
Production
_
_ _ _ _ do
Tax-paid withdrawals
do
Stocks end of month
do
Imports
_
_do_ _
Distilling materials produced at wineries do
5,721
5,475
8,399
7, 761
7, 084
8, 708
7,314
6,507
9,248
8,331
7,557
9,646
9,258
8,629
9,879
19, 631
20, 232
16, 922
16, 823
13, 732
8,818
11, 581
16, 704
26,093
19, 770
19. 057
16, 577
14, 137
12, 741
7,264
654, 589
874
14, 038
9, 334
661, 728
1,109
12, 919
7,755
668, 421
974
13, 300
7,826
674, 661
1,097
13, 078
7,632
677, 344
1,111
12, 323
8,067
676, 337
878
12,336
8,072
675, 217
985
14, 121
9,471
673, 701
1,329
15, 213
11 438
671 309
1,529
17, 673
12 070
669, 884
1,607
20, 031
8 351
676 016
1,410
11, 519
7 209
680. 898
89C
6 295
684 576
14, 148
4,229
578, 342
783
14, 462
4,720
586, 592
994
11, 536
3,884
593, 094
752
10, 971
3,732
599, 561
1,017
7,852
3,537
602, 926
1,027
5,099
4,048
602, 865
803
5,959
4,383
603, 231
914
8,703
5,311
604, 768
1,226
9,246
6 101
606 210
1 413
9,705
6 965
606, 015
1 461
10 672
5 197
610, 365
1 262
11, 069
4 684
615, 384
790
10, 115
4 043
620, 133
8,474
7,739
10, 202
9,207
8,306
7,345
8,931
7,908
9,069
7,889
8,008
6,864
9,043
7,681
10, 228
9,250
12, 400
11, 247
12, 601
11,473
7,916
7, 101
6,622
5,870
6,092
5,458
60
57
1,530
25
74
65
1,515
21
188
53
1,647
32
98
62
1,673
26
163
77
1,743
28
54
49
1,742
13
128
62
1,808
14
47
99
1,734
35
47
175
1 633
43
54
154
1 771
86
86
159
1 426
86
124
64
1 474
24
833
9, 696
203,618
217
491
821
11, 703
191,799
253
1,802
640
9,585
182,156
238
405
658
8,885
173,518
221
929
584
8,815
162, 586
177
513
435
7,763
155, 034
148
713
1.335
8.788
145, 702
145
4,900
19, 085
11, 303
154, 365
188
37, 979
58, 451
13 112
203 831
286
105 382
14 556
13 540
205 095
342
35 142
3, 534
12 865
192, 024
335
4,808
1 076
11 974
189 246
240
1 394
92, 780
8,718
.633
112, 525
6,318
.616
124, 615
15, 338
.599
160, 625
51, 056
.597
157, 325
102, 701
.590
136, 390
136, 786
.599
128, 440
153, 855
.618
113, 770
154, 455
.622
102, 800
144 819
.625
90, 480
130 452
.625
96, 000
113 993
.631
101, 515
r 103 657
.624
97, 085
94, 085
.635
78, 570
58, 030
126, 503
111, 073
1,533
94, 375
70, 945
120,563
105,608
2,035
111, 165
86, 845
125, 903
109, 920
2, 393
143, 280
116, 365
134, 765
117, 021
2,402
137, 125
112, 545
162, 256
140, 859
2,794
118, 735
96, 760
185, 517
162, 346
r
2, 138
108, 410
87, 370
210, 411
183, 208
1,804
94, 150
74, 135
213, 433
188, 259
2,442
82, 155
62 355
209, 515
185 839
4 003
71, 875
51 395
196, 125
175 764
3 946
r
74, 175
77, 365
r 54 565
52 535
r
188, 653
176, 821
168 670 r 159 9Q6
5 102
3 085
74, 710
53 110
164, 744
149 867
.348
.336
.337
.341
.343
.330
.352
.358
.356
.356
.353
.349
.354
12, 965
12,100
160, 300
15, 145
14,100
215, 750
22, 910
12, 000
266, 250
39, 450
10, 300
361, 150
34,275
9,800
350, 850
22, 490
8,200
306, 750
26, 130
8,800
273, 650
22, 320
5,750
212, 750
16, 300
4 675
167, 750
11,550
3 200
134, 000
11, 675
6 300
151,000
14, 700
4 450
168, 750
13,200
f) 900
183, 000
8,694
206, 464
8,341
177, 077
9.290
189, 735
9,066
298, 661
10, 027
379, 000
8.309
454, 210
8, 559
477, 812
6,758
484, 246
6,925
426 836
5,795
333 264
7,386
243 491
5,249
151 401
5, 951
101 470
7,322
31, 795
11, 021
21, 688
9,901
20,971
7,657
24, 517
8,903
24, 391
6,205
22, 967
4,500
11, 209
5,692
12,368
1,846
18, 257
1,618
14, 862
2,221
15, 351
2 858
13, 120
9.48
5.66
9. 10
5.45
9 10
5.18
9 10
5.05
9 10
5.09
9.10
5.12
9 10
5.11
9 10
5.08
9 10
5.08
9 10
5.09
9 10
5.09
9 10
5.10
9 10
5.10
8,395
3,113
5.04
9,616
3,833
4.89
10, 324
4,394
4.67
12, 069
5,640
4.58
12, 372
5 482
4.56
11, 559
4,828
4.61
10, 574
4 475
4.66
9,427
3 862
4.71
9,056
3 395
4.74
8,451
2 943
4.75
8,622
3 144
4.75
9,046
r 3 321
* 4. 66
8, 671
3 237
4.63
8,540
59, 500
11 150
80, 000
12 275
98, 350
13 715
122, 400
12 225
112, 200
12 620
88, 360
10 890
76, 750
10 725
63, 050
9 150
54, 150
7 41D
49, 000
-1 A 9AA
58, 700
9 HQ1
64, 850
65, 500
14, 834
63, 492
15 479
72, 785
14 124
75, 436
16 135
96, 275
17 377
105, 446
19 059
98, 129
17 788
97, 201
18 271
80^ 448
16 666
57, 026
47, 791
48, 722
43, 821
42, 213
8,229
5,620
4,616
8,288
6 666
26, 248
10 014
16, 226
5 873
14, 042
5 587
2,857
7 336
20, 579
5 449
44, 267
5 QOQ
28, 897
4 000
5 906
7,326
7 653
.115
.115
117
118
116
117
118
121
123
1 09
507
412
6,390
2,564
14, 777
4,790
6,419
35, 224
5,521
4,707
33, 405
7, 524
i 133 i8i
4, 036
25, 667
11, 373
339, 588
355, 552
342, 565
326, 934
300, 409
315 788
368 552
387 681
383 658
371 003
14, 641
19,864
18, 602
17, 411
401 962
16, 542
3.498
3.236
2.873
3. 601
4. 134
9,382
8,722
10, 147
DAIRY PRODUCTS
Butter, creamery:
Production (factory) t
thous. oflb- Stocks cold storage, end of month
do
Price, wholesale, 92-score (New York).dol. per lb_.
Oheese:
Production (factory), total t _ _
thous. of lb__
American, whole milk J
_
_ _ _ _do_ Stocks, cold storage, end of month, total _ _ .do_ American, whole milk
__do _
Imports _ _
_
_
do
Price, wholesale, American, single daisies (Chicago)
dol. per lb_ _
Condensed and evaporated milk:
Production: J
Condensed (sweetened):
Bulk goods
thous. oflb_Case goods
_do Evaporated (unsweetened), case goods.- .do
Stocks, manufacturers', case goods, end of month:
Condensed (sweetened)
thous. of lb__
Evaporated (unsweetened)
_.
do
Exports:
Condensed (sweetened)
do
Evaporated (unsweetened)
do
Prices, wholesale, U. S. average:
Condensed (sweetened)
dol per case
Evaporated (unsweetened)
do
Fluid milk:
Production
mil. of lb_.
Utilization in mfd. dairy products. _ _ do. _
Price, dealers', standard grade
dol. per 100 lb-_
Dry milk:
Production: |
Dry whole milk
thous oflb
Nonfat dry milk solids (human food)
do
Stocks, manufacturers', end of month:
Dry whole milk _
do
Nonfat dry milk solids (human food)
do
Exports:
Dry whole milk___
_ do
Nonfat dry milk solids (human food)
do
Price wholesale, nonfat dry milk solids (human
food), U. S. average __ _
.
dol. per Ib
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
thous. of bu
Shipments, carlot
no. of carloads..
3,229
3,161
2,065
764
1,776
549
Stocks, cold storage, end of month., thous. of bu_.
9,028
5,491
3,318
1.294
343
175
Citrus fruits, carlot shipments
no. of carloads. _
10,319
11,571
10, 210
9,002
10, 051
7,902
Frozen fruits, stocks, cold storage, end of month
thous. oflb.. 301, 249 266, 581 237, 419 237, 856 255, 787 327, 090
Frozen vegetables, stocks, cold storage, end of
month
_ _ _ _ _
_ _ _ _ _ thous. oflb
229, 506
206, 061
237 847
191 666
186 821
219 515
Potatoes, white:
Production (crop estimate).
__thous. of bu__
Shipments, carlot _ _
__no. of carloads
25, 415
35, 867
26, 059
22, 999
12,045
24, 226
Price, wholesale, U. S. No. 1 (New York)
4.474
4.568
dol. perlOOlbs.
4.623
3.546
5.258
3.287
r
Revised. * December 1 estimate. \ Revisions for January-September 1948 are available upon request.
2,814
1
f
r
3, 832
'r 19, 573
9, 760
r
279, 255
T
0
IOC
4, 231
12, 794
8, 596
264, 681
19, 900
20, 610
3.719
3.632
SURVEY OF CUEEENT BUSINESS
S-28
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
April 195(
1950
1949
February
March
April
May
June
July
August
September
December
January
33, 832
October
November
37, 905
49, 150
42, 726
i 23« 104
6, 820
February
FOODSTUFFS AND TOBACCO—Continued
GRAINS AND GRAIN PRODUCTS
Exports, principal grains, including flour and meal
thous. of bu_
Barley:
Production (crop estimate)
do
Receipts, principal markets
do _
Stocks, domestic, end of month:
Commercial
do
On farms
do
Exports, including malt
do
Prices, wholesale (Minneapolis):
No. 2, malting
dol. perbu__
No. 3, straight. _
do
Corn:
Production (crop estimate)
mil of bu
Grindings, wet process
thous. of bu
Receipts, principal markets
do
Stocks, domestic, end of month:
Commercial
do
On farms
mil of bu
Exports including meal
thous of bu
Prices, wholesale:
No. 3, white (Chicago)
dol. perbu._
No. 3, yellow (Chicago)
__ _
do
Weighted average, 5 markets, all grades.. do
Oats:
Production (crop estimate)
mil of bu
Receipts, principal markets..
thous. of bu._
Stocks, domestic, end of month:
Commercial
do
On farms
do
Exports, including oatmeal
do
Price, wholesale, No. 3, white (Chicago)
dol. per bu_.
Rice:
Production (crop estimate)
thous of bu
California:
Receipts, domestic, rough
thous. of lb_.
Shipments from mills, milled
rice
do. ..
Stocks, rough and cleaned (cleaned basis), end
of month
_
thous. of lb_.
Southern States (Ark., La., Tenn., Tex.):
Receipts, rough, at mills. thous. of bbl. (162 lb.)_
Shipments from mills, milled rice- thous. of lb_.
Stocks, domestic, rough and cleaned (cleaned
basis) , end of month
thous . of Ib .
Exportsf .
-do.Imports
__
.
.
do
Price, wholesale, head, clean (N. O.)_.dol. per lb~
Rye:
Production (crop estimate)
thous of bu
Receipts, principal markets
_ _ . _. _ d o _ Stocks, commercial, domestic, end of month.do
Price, wholesale, No. 2 (Minn.)
__dol. per bu..
Wheat:
Production (crop estimate) total
mil of bu
Spring wheat
'
do
Winter wheat
do
Receipts, principal markets
thous. of bu
Disappearance, domestic
do
Stocks, end of month:
Canada (Canadian wheat)
do
United States, domestic, total cf
do
Commercial
do
Interior mills, elevators, and warehouses
thous. of bu__
Merchant mills
_ __. do _
On farms
do
Exports, total, including
flour
do___
Wheat only. . . .
__
do
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
dol. per bu.
No. 2, hard winter (Kansas City)
do
No. 2, red winter (St. Louis) _ .._
_ _ do
Weighted avg., 6 markets, all grades
do
60, 184
65. 849
45, 380
57, 458
47, 295
44, 958
59, 048
46, 153
5,254
8,991
5,860
11, 906
19,312
24, 843
24, 940
14, 954
11, 003
9,015
12, 426
9,491
10, 057
33, 056
34, 109
1,636
4,199
6,410
' 33, 978
148 973
3,382
35, 942
1,390
14, 922
59, 308
2,111
24, 659
2,653
11, 197
111, 408
2,864
1,888
1.344
1.242
1.312
1.200
1.256
1.178
1.249
1.184
1.253
1.163
1,290
1.236
1.327
1.299
1.523
1.455
1.556
1.502
9,357
20, 139
9,902
23, 694
8,813
19, 646
8,632
21, 198
8,910
21, 977
8,658
19,683
10, 637
22, 064
10, 501
23, 967
43, 903
25, 895
1, 797. 5
21, 267
15, 266
11, 589
5,711
11,251
8,209
10, 888
1, 255. 2
4,611
4,744
13, 081
7,826
8 369
(2)
1.271
1.160
1.427
1.337
1.224
1.403
1.370
1.322
1.410
1.358
1.279
(2)
1.353
1.276
1.451
1.402
1.327
5,311
8,915
10, 175
9,874
13, 988
5,916
3,635
4,129
2, 539
4,215
578, 832
1,392
1,869
.741
.753
.741
4,349
5,806
30, 282
30, 454
1,468
32, 630
107 532
2,263
1.560
1.451
1.509
1.418
1.546
1.444
1.547
1.484
11,206
43, 947
10, 047
58, 975
13 378
9,554
33, 364
9,454
24, 678
9,446
17, 006
9,614
708 4
7 116
20, 020
46, 400
45,319
20, 238
51, 688
2 401 3
13 470
47, 521
7,513
1.340
1.307
1.256
1.262
1.312
1.238
1.390
1. 152
1.134
1.308
1.157
1.142
1.450
1.296
1.248
1,440
1.291
1.249
33, 804
24, 804
9,338
5,953
5,460
i i 323
7,163
17,745
30, 095
25, 254
21,218
503
6, 167
270, 501
3,182
562
6,719
1,045
.701
.673
.638
.637
.687
26, 706
1 053 296
1, 765
678
811
10 080
1.441
1.297
1.261
6,862
4,670
16 050
13, 130
2,430
19 029
819 701
578
.759
.762
.749
.769
268
i 89, 141
27, 300
18, 049
37, 216
19, 003
55, 691
61, 988
48, 913
30, 421
45, 785
26, 728
46, 994
31,9C8
68, 741
64, 909
48, 951
26, 998
236, 472
48, 435
39, 427
22, 610
65, 207
81, 654
32, 953
31,183
45, 493
33, 990
56, 651
59, 154
38, 289
37, 944
39, 358
35, 752
13, 806
16, 508
114,029
115, 691
81, 914
72, 043
62, 804
684
130, 522
841
141, 767
665
120, 202
412
134, 241
377
132, 777
183
78, 233
781
81, 631
4,315
194, 961
4,188
265, 382
3,703
226, 358
1,596
262, 745
658
196, 778
480
92, 216
379, 906
69, 715
103
.093
332, 121
51,418
439
.093
286. 353
117, 042
458
.092
202, 235
106, 781
809
.091
113, 173
60, 952
772
.089
57, 291
88, 768
909
.087
65, 554
39, 932
606
.084
316, 540
63,013
423
.071
489, 341
136, 387
310
.070
650, 284
108 470
252
.077
566. 941
200 832
716
.082
452 037
181 078
272
.082
417 203
245
2,971
1.364
431
2,075
1.352
3,348
3,618
1.361
727
2,732
1.362
748
2,993
1.346
1,772
4,091
1.454
3,131
6,170
1.384
1,043
5, 435
1.428
2,195
5,401
1.465
5,071
10, 005
1.418
i ig 697
569
9,338
1 457
300
8,280
1 430
263
7,643
1 343
18 385
17 347
152 065
146 506
199 613
189 447
14, 067
36, 604
282, 975
27, 560
142, 276
125, 504
130, 737
585, 572
124, 656
41,389
30, 771
148, 287
63, 229
246, 024
39, 095
32, 358
2.337
2.196
2.287
2.246
2.348
2.241
2.329
2.278
49. 082
64, 749
279, 460
118. 551
89, 097
116,806
114,242
70, 146
307, 347
128, 158
29. 812
23, 020
46, 555
40, 617
75,859
32, 361
67, 172
36, C67
30, 313
31,796
24, 789
37, 369
34, 230
2.342
2.260
2.366
2.285
2.328
2.221
2.344
2.254
2.367
1. 951
1.828
2.160
2.379
2.004
1.872
2 096
2.285
2.060
1.865
2 185
76, 031
50 170
294 748
55, 199
86, 400
234, 493
260, 412
162 524
1,159,159
9
61 109
130,305
282,
133,
472
33
30
27 586
24 296
176, 459
165 267
244 664
227 502
881
688
209
495
082
26, 589
22 693
24, 067
20 482
2.374
2.152
2 013
2 253
2.431
2.188
2 083
2 282
2.395
2.202
2 161
2 274
i i i4g 5
i 244 g
i Qoi 7
18 492
251 063
165 657
908 106
219 038
236,
117
327
26
21
284
749
230
094
655
21 996
18 055
2. 375
2.221
2 200
2 269
2.366
2.223
2 218
2 0CQ
.081
2.328
2.224
2 158
2
0CO
Wheat flour:
Production:!
20, 391
17, 187
17. 333
19, 969
20, 116
Flour
thous of sacks (100 Ib )
18 994
19 957
1Q Ifi^
20 895
19 221
20 357
18 679
n as7nn7
74.1
59.2
56. 3
64. 1
66.1
Operations, percent of capacitv _ _- _ _ _
65 3
63 5
70 2
69 0
68 9
61 8
65 9
333,615
392, 149
381, 285
337 890
390, 721
Offal
short tons
380 597
405 071
41'-! T39
424 907
389 304
378 385 r *3S4 7QO
46, 910
39, 581
45, 779
39, 990
46, 344
Grindings of wheatf thous ofbu
44 222
46 561
41 *^on
48 740
47 541
44 852
43 542
44 576
Stocks held by mills, end of month
5,428
thous. of sacks (100 lb.)_.
4,500
4,757
4 948
3, 041
3,044
Exports
__ _ _ _
do
4,784
2, 623
1 347
2,727
3,007
1 672
1 4d5
1 539
1 905
1 692
Prices, wholesale:
Standard patents (Minneapolis)
5.460
5.469
5.269
5.255
dol. per sack (100 Ib.)
5.575
5.512
5.715
5.340
5. 600
5.744
5.669
5. 605
5.619
4.980
Winter, straights (Kansas Citv)
do
5.106
5. 119
4.915
5. 069
5 165
5 11Q
4.938
4.869
p; ice
4. 869
F> 11.fi
* 128
2
r Revised.
i December 1 estimate.
No quotation.
cf The total includes wheat owned by the Commodity Credit Corporation and stored off farms in its own steel and wooden bins; such data are not included in the break-down of stocks.
t Re vised series. Data for rough rice, included in rice exports, have been revised using a ne\v conversion factor supplied by the U. S. Department of Agriculture, which takes into account changes in milling practices; revisions for 1933 to July 1948 are available upon request. Revised data for January 1947 to July 1948 for wheat-flour production and grindings of wheat
will be published later.
SURVEY OF CURRENT BUSINESS
April 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-29
1949
February
March
April
May
June
July
19 50
August
September
October
November
December
January
February
FOODSTUFFS AND TOBACCO— Continued
LIVESTOCK
Cattle and calves:
Slaughter (Federally inspected):
Calves
thous. of animals
Cattle
do
Receipts, principal markets
_
do_
Shipments, feeder, to 8 corn-belt States
do
Prices, wholesale:
Beef steers (Chicago)
dol. per 100 Ib
Steers, stocker and feeder (Kansas City). -do
Calves vealers (Chicago)
do
Hogs:
Slaughter (Federally inspected)
thous. of animals. _
Receipts, principal markets
do
Prices:
Wholesale, average, all grades (Chicago)
dol. per 100 lb_.
Hog-corn ratio
bu. of corn equal in value to 100 Ib. of live hog__
Sheep and lambs:
Slaughter (Federally inspected)
thous. of animals..
Receipts, principal markets
_ _. __.do_ _ _
Shipments, feeder, to 8 corn-belt States
do
Prices, wholesale:
Lambs average (Chicago)
dol. per 100 Ib _
Lambs, feeder, good and choice (Omaha) _do
476
994
' 1, 536
72
619
1,102
1, 895
126
562
996
1,733
100
510
1,025
1,827
92
533
1,095
1,896
140
501
1.090
1,833
164
549
1,232
2,470
384
552
1 224
2,528
586
568
1, 156
3, 061
869
585
1,116
2,280
M32
511
1 064
1,676
198
465
1 103
1, 839
133
443
939
1 537
112
22.25
21. 25
30.38
24.14
24.37
27.63
24.20
23.66
27.94
24.88
24.02
26.45
26.47
22.53
25.94
25. 86
20.62
24.88
26.28
20. 06
25.70
28 11
19.74
27 25
28.93
20.57
27.15
28.21
21.45
26.75
26 47
21.44
27.25
25 98
22.94
30 40
25 58
24.13
30 88
4,080
' 2, 572
4,315
2,615
3,894
2,471
3,721
2,438
3,745
2,406
3,165
2,072
3,417
2,314
3,879
2,395
4,959
3,055
6, 003
3,618
6,477
3,813
5, 844
3 712
4,191
2 691
19.44
20.16
18.32
18.49
19.08
18.23
19.09
19.74
17.87
15.87
15.05
15.23
16.55
17.5
16.9
15.2
14.7
15.5
15.4
16.4
17.2
16.1
15.3
13.1
13.1
14.3
1,046
* 1, 095
74
949
845
61
676
824
63
761
1,243
163
898
1,164
138
976
1,202
144
1,126
1,650
335
1,180
1,932
534
1,172
2,054
572
1,060
1,296
212
1,058
1,139
71
1,077
1,206
115
863
931
112
24.75
0)
30.50
C)
29.50
0)
29.25
0)
27.12
0)
24.50
0)
23.62
22.66
23.00
23.21
23.75
23.28
23.38
23.25
22.38
22.88
24.00
23.64
26 12
25.12
1,408
1,083
52
1,519
1,018
69
1,353
930
104
1,362
779
77
1,438
716
97
1,358
643
65
1,441
'520
46
1,436
411
45
1,564
409
41
1,763
532
58
1,864
799
69
' 1, 793
••943
55
1,356
898
583, 486
158, 240
984
664, 174
143, 137
1,709
606, 020
119, 431
2,388
623, 536
94, 035
1,302
645, 249
81, 148
1,227
638, 252
75, 627
1,482
716, 737
72, 053
2,511
698, 993
71,475
2, 260
660, 890
78, 763
1,070
640, 589
103, 582
1,167
616, 302
136, 903
2,569
MEATS
Total meats (including lard):
Production (inspected slaughter)
mil. of lb__.
Stocks, cold storage, end of month .
do
Exports
- do
Beef and veal:
Production (inspected slaughter)
thous. of lb__
Stocks cold storage, end of month
do
Exports
-- - - do
Price, wholesale, beef, fresh, steer carcasses, good
(600-700 Ibs.) (New York)
dol. per lb__
Lamb and mutton:
Production (inspected slaughter)
thous. of lb__
Stocks cold storage, end of month
do
Pork, including lard, production (inspected
slaughter)
thous. of Ib
Pork, excluding lard:
Production (inspected slaughter)
do
Stocks, cold storage, end of month
___ do
Exports
. do
Prices, wholesale:
Hams smoked (Chicago)
dol. per Ib
Fresh loins, 8-10 Ib. average (New York) . do
Miscellaneous meats and meat products, stocks, cold
storage, end of month:
Edible offal
thous of Ib
Canned meats and sausage and sausage-room
products
thous of Ib
Lard:
Production (inspected slaughter)
do
Stocks, cold storage, end of month
do
Exports
_ _ _. _.
_ _ do
Price, wholesale, refined (Chicago) _ _ -dol. per l b _ _
r
642, 167
143, 599
1,118
554, 425
122, 334
.368
.392
.404
.410
.433
.431
.438
.464
.476
.476
.445
.438
.430
47, 548
19, 571
43, 156
14, 268
30, 761
9,864
33, 561
7,007
37, 427
6,761
40, 975
6,651
48, 257
6,869
50, 414
7,268
51, 338
8,222
47, 893
10, 534
48, 992
13, 811
51, 344
14, 332
42, 392
13 135
777, 258
811, 293
715, 895
704, 543
754, 870
678, 466
675, 735
686, 365
851, 970 1, 074, 324 1, 198, 884 1, 099, 016
759 390
563, 446
611, 123
3, 076
593, 593
586, 429
2,943
527, 859
545, 231
3,866
517, 974
466, 108
5,855
556, 838
419, 590
11, 924
495, 142
367, 043
6,102
500, 186
283, 178
6,749
518, 143
204, 678
4,342
634, 343
209, 687
2,479
801, 460
297, 205
2,711
880, 945
473, 741
6, 576
804, 033
' 582, 737
4,017
558 664
573, 615
.546
.457
.570
.502
.550
.518
.520
.515
.556
.533
.586
.546
.613
.558
.569
.551
.489
.453
.468
.386
.469
.351
.489
.368
495
.430
62, 136
61, 269
58, 535
54, 707
55, 322
56, 671
54, 958
51, 245
47, 642
51, 174
62, 163
r
63, 173
56 605
51, 980
55, 683
58, 348
50, 941
49, 570
41,209
34, 310
27, 374
26, 094
30, 014
38, 186
r
45, 984
50 964
156, 573
179, 628
42, 517
.152
159, 474
156, 782
55, 604
.152
137, 441
138, 216
92, 304
.136
136, 470
125, 823
63, 282
.147
144, 798
103, 890
76, 508
.136
134, 178
96, 255
52, 293
.132
128, 257
68, 819
29, 407
.166
122, 743
48, 768
32, 682
.152
158, 861
38, 320
31, 503
.158
199, 237
39, 808
49, 467
.130
232, 483
73, 995
54, 310
.128
24, 937
108, 732
.353
26, 798
89, 205
.339
31, 644
77, 823
.298
38, 054
74, 733
.268
34, 769
71,261
.241
38, 991
83, 466
.260
49, 399
132,380
.238
58, 185
211, 517
.236
82, 866
267, 508
.217
73, 034
292, 513
.213
6,137
13, 993
6, 105
13,285
5, 845
7,875
4,905
7,640
4,334
6,118
3, 853
3,963
3,576
1,778
3,749
933
3,851
1,207
530
77, 319
954
107, 058
1,943
141, 361
2,290
166, 582
1,936
168,394
1,426
146, 868
810
121,476
501
96, 382
.451
.483
.483
.493
.533
.559
.628
POULTRY AND EGGS
Poultry:
19, 959
Receipts, 5 markets
thous. of lb-_
131, 496
Stocks, cold storage, end of month
do
.328
Price, wholesale, live fowls (Chicago) _dol. per lb_.
Eggs:
r
4, 830
Production, farm
millions-.
Dried egg production
thous. of lb_. r 6, 955
Stocks, cold storage, end of month:
144
Shell
thous. of cases. .
58, 621
Frozen
_ thous. of Ib
Price, wholesale, extras, large (Chicago) t
.435
dol. per doz__
r
215 492
146 905
' 92, 949 80 847
45, 770
.129
.129
34, 859
295, 736
.204
28, 604
259, 144
.223
4,499
8,579
5,147
3, 239
5,217
6,257
250
72, 556
110
53, 902
-•380
T 55, 052
743
72, 986
.564
.527
.381
.323
.327
r
MISCELLANEOUS FOOD PRODUCTS
Candy, sales by manufacturers
thous. of dol__
Cocoa:
Imports
long tons
Price, wholesale, Accra (New York)_.dol. per lb_.
Coffee:
Clearances from Brazil, total
thous. of bags__
To United States
..do Visible supply, United States
do
Imports
_
do
Price, wholesale, Santos, No. 4 (New York)
dol. per lb_Fish:
Landings, fresh fish, 5 ports
thous. of lb_.
Stocks, cold storage, end of month
do
T
51,876
55, 507
43, 851
34, 642
36, 028
25, 580
40, 928
66, 713
69, 382
65, 913
52, 730
51, 675
49, 091
23, 276
.203
44, 434
.185
26, 698
.199
24, 963
.190
32, 103
.187
21 845
.211
22, 119
.226
11, 253
.200
9,936
.205
21, 019
.246
30, 461
.259
23 512
.272
.251
1,359
890
929
1,668
1,488
1,058
1,127
2,086
1,294
811
906
1,782
1,572
942
796
1,477
1,326
906
808
1,685
1.672
933
859
1, 688
1, 868
1,129
796
1,604
2,332
1,403
798
1, 932
1,945
1,280
763
1,853
2,185
1, 507
850
2,016
1,439
874
992
2, 247
1, 093
699
868
2 070
779
519
928
.268
.265
.261
.270
.272
277
.284
.302
.355
.496
.490
.496
.488
29, 033
104, 138
40, 705
82, 722
49, 613
74, 940
69, 890
91, 453
71,117
114,031
77, 219
146, 344
64, 091
150, 608
55, 030
156. 077
42, 129
158. 719
31,246
146. 813
125. 516
105. 818
r
66, 145
127,217
l
Revised.
No quotation.
fRevised series. U. S. Department of Agriculture data replace the series for U. S. standards published prior to the October 1949 issue of the SURVEY. Data for September 1944 to July
1948 are available upon request.
SURVEY OF CURRENT BUSINESS
S-30
April 1950
1950
1949
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
February
March
April
May
June
July
August
September
October
November
December
January
February
1,021
707
397
423
1,423
627
744
803
904
835
069
72, 870
404, 682
174 121
511, 962
508, 537
3,425
31, 605
379, 389
119 554
503, 096
501, 508
1, 588
1,525
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS— Con.
Sugar:
Cuban stocks, raw, end of month
thous. of Spanish tons__
United States:
Deliveries and supply (raw basis):
Production and receipts:
Production
_ _ _ ..short tons__
En tries from off-shore
do - Hawaii and Puerto Rico
do
Deliveries total
do
For domestic consumption
._ do _
For export
do
Stocks, raw and refined, end of month
thous. of short tons_.
Exports, refined sugar
short tons
Imports:
Raw sugar total
do
From Cuba
do _ _
From Philippine Islands r?
do
Refined sugar total
do
From Cuba
do
Price (New York) :
Raw, wholesale
dol. perlb.Refined :
Retail
-._ do ...
Wholesale
do
Tea imports
thous. of Ib
TOBACCO
Leaf:
Production (crop estimate)
mil of Ib
Stock, dealers' and manufacturers', end of quarter,
total
mil of Ib
Domestic:
Cigar leaf
do
Air-cured, fire-cured, flue-cured, and miscellaneous domestic
mil. of Ib
Foreign grown:
Cigar leaf
do
Cigarette tobacco
do
Imports including scrap and stems
do
Manufactured products:
Production manufactured tobacco total do
Chewing, plug, and twist
- do _
Smoking
do
Snuff
do_ __
Consumption (withdrawals) :
Cigarettes (small):
Tax-free
_ __
millions. _
Tax-paid
do _
Cigars (large) , tax-paid
thousands..
Manufactured tobacco and snuff, tax -paid
thous. of lb_.
Exports, cigarettes
millionsPrice, wholesale (composite), cigarettes, f. o. b .,
destination
dol. per thous.
T
r
'1,314
2,490
3,728
54, 358
485, 090
138, 038
502, 148
498,
748
r
3, 400
0)
681, 532
225, 273
619, 578
611,382
8,196
r
3,678
3,215
567, 829
236, 686
537, 449
535, 102
2,347
0)
577, 439
156, 084
608, 479
604, 698
3,781
1,442
3,657
1,525
2,785
1,492
1,863
386, 786
329, 913
51 964
68, 585
68, 147
318, 647
264, 133
52 845
42, 328
41, 820
.056
.057
.056
.092
.078
7,606
.093
.078
8,128
.093
.079
9,774
1,416
4,095
313,176
287, 966
25 176
26 204
25, 950
T
0)
2,599
2,022
1,668
509, 595
123, 322
792, 936
789, 878
3,058
0)
471, 237
84 350
747, 453
743, 698
3,755
43, 899
642, 038
132 227
924, 533
921, 391
3,242
116, 207
391, 859
165, 441
733, 977
729, 920
4,057
1,252
1,997
956
1,879
617
2,379
404
2,403
346, 792
253, 348
88 409
38 430
36, 555
342, 089
232, 097
104 072
23 401
23, 398
.058
.059
.058
.059
.060
.093
.078
7,465
.093
.078
8, 485
.093
.077
6,129
.093
.077
7,877
.093
.077
8,443
382, 265
267, 999
114 266
25 613
' 25, 563
0)
r
548
402
133
523
519
4
576
253
168
702
358
344
766,
252
99
539
537,
2
441
307
018
902
257
645
418,
306
309
527,
525,
2
879
1,475
1,446
1 133
1,708
977
1,625
1,695
342, 392 «• 243, 822
250 846
272, 690 ' 225, 129 242, 278
r
61, 901
5 581
1 416
' 28, 259 28 272
27 763
23,684
28, 259
26, 639
197 959
190, 878
7 076
24 521
24, 511
66 038
66,011
139, 962
125,411
6 238
18 855
18, 844
.059
.057
.058
.056
.093
079
9,327
.093
.079
6,289
2.462
.079
7,628
2.461
.077
.060
.093
079
7,702
50
3
3,851
3,690
3,509
1, 990
3,879
345
367
330
316
3,350
2,970
3,206
3,403
20
134
36 167
6,713
22
134
25
155
r
9, 267
22 249
r
6,906
20 400
7,521
33 402
8,217
30 563
6,606
61 875
9,088
76, 768
7,483
55 781
7,261
37 675
6,903
50 151
4^758
16 052
8,184
17, 576
6,768
7,548
3,260
20 880
7,618
9,567
3,695
18, 729
6,940
8,535
3,254
20 591
7,226
10,120
3,246
21 740
8,558
9,747
3,435
16, 625
6,918
7,311
2,396
22, 986
8,839
10, 308
3,838
22, 565
8,345
10, 579
3,641
22 434
7,774
10,997
3,664
19 675
7,072
9,055
3,547
17 119
6,643
6,971
3,505
18, 982
7,566
8,483
2,933
2,570
25, 024
410, 170
3,168
31,448
457, 149
3,568
27, 307
428, 452
3,172
30, 691
428, 357
3,236
32, 849
519, 509
2,155
25, 806
422, 496
3,041
35, 347
516, 208
2,680
31, 743
532, 446
2,777
29. 194
534, 274
2,215
29, 657
508, 626
2,432
24, 776
386, 169
1,973
29, 290
424, 088
2.178
25, 645
415, 318
17, 138
1,237
20,490
1,649
18, 392
2,446
20, 362
1,937
20, 583
1,611
16, 625
1,449
22, 869
1,476
22, 674
1,720
21, 975
1,523
19, 324
1,341
16, 556
1,893
19, 286
903
17,354
6.862
6,862
6.862
6.862
6.862
6.862
6.862
6.862
6.862
6.862
6.862
6.862
6.862
23
149
19
141
LEATHER AND PRODUCTS
HIDES AND SKINS
Imports total hides and skins
thous of Ib
Calf and kip skins
thous. of pieces
Cattle hides
do
Goatskins
do
Sheep and lamb skins
do
Prices, wholesale (Chicago):
Calfskins, packers', 8 to 15 lb_. _ __dol. per lb_.
Hides, steer, packers', heavy, native
do __
9,900
67
97
2,722
925
.385
.229
991
10, 714
58
85
3,294
1,477
15, 302
47
53
3,631
2,629
11,942
44
103
4,005
965
14, 082
23
27
3,319
2,726
16, 951
118
35
2,657
4,076
15, 569
145
41
2,312
3,276
16, 028
120
47
2,771
2,571
16, 499
116
77
2,688
2,723
18, 503
110
172
3,041
1,811
23, 838
276
356
2,924
2,335
.421
.209
.422
.200
.414
.213
.398
.214
.385
.209
.410
.238
.421
.246
.425
.244
.425
.245
.445
.232
.450
(4)
10, 281
67
f
65
r 3, 221
.425
.207
LEATHER
Production:
r
877
766
867
831
886
927
797
941
571
886
947
861
Calf and kip
thous of skins
r
1,942
1,976
1,891
1,566
1,982
1,959
1,870
1,887
2,124
2,163
1,868
1,990
Cattle hide
thous. of hides
r
2,764
2,730
3,014
3,018
2.859
2,956
2,997
2,982
2,747
2,364
3,457
2 800
Goat and kid
thous. of skins
2,214
2,419
2,532
2,154
2,694
2, 193
2,619
1,834
2,537
2,463
2,691
2,134
Sheep and lamb
do
Exports:
Sole leather:
9
70
5
56
93
6
92
60
Bends, backs, and sides
thous. of Ib
466
189
25
87
116
73
185
10
151
704
49
41
6
106
890
Offal, including belting offal
do
31
3,462
3,203
3,329
3,246
3,113
6,314
6,035
2,886
3,938
2,906
Upper leather.. _
thous. of sq. ft..
2,882
4,016
Prices, wholesale:
.555
.568
.578
.559
.592
.578
.559
.549
.549
Sole, bends, steer, f. o. b. tannery
dol. per l b _ _
.657
.539
.564
.549
Chrome calf, black, B grade, composite
1.024
.975
1.025
1.023
.977
1.036
1.030
dol. per sq. ft__
.975
.975
' .991
1.016
.988
.991
' Revised.
1 Corrected monthly figures are not available; January-July 1949 total (including revisions for January and February) is 218,055 short tons.
2
Price for 5 pounds; quotations formerly for 1-pound package.
3
December 1 estimate. * No quotation.
d"This series continues data in the 1942 STATISTICAL SUPPLEMENT to the SURVEY; there were no shipments for 1942 to 1947 except for January, February, and May 1942 (12,136,1,120, and
8,618 short tons, respectively). Data for January-July 1948 are shown on p. S-30 of the October 1949 SURVEY.
NOTE FOR LUMBER SERIES, p. S. 31.—Exports of sawmill products for 1948 have been adjusted to exclude box shooks, in accordance with the revised commodity classification effective
January 1949. Revisions for January-July 1948 are shown in a footnote on p. S-38 of the October 1949 SURVEY.
Minor revisions for total lumber production, shipments, and stocks for 1946-47 (since publication of the 1949 STATISTICAL SUPPLEMENT) are available upon request. Revised data for total
lumber for January-July 1948 and revised data for Western pine for January 1947-March 1948 are also shown in the above-mentioned note.
SURVEY OF CURRENT BUSINESS
Ipril 1950
S-31
1950
1949
Jnless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
February
March
April
May
June
July
August
September
October
November
38, 208
33, 490
r
34, 124
38, 633
r
30, 129
35, 753
28, 281
1 834
33, 170
2,651
r
S 025
1,274
13 374
4,316
r 3 140
r 3 562
' 220
213
348
8 192
1,209
17 887
5 110
3 355
2 446
220
214
229
December
January
February
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
Shoes and slippers:§
Production, total
thous. of pairs. _
Shoes, sandals, and play shoes, except athletic,
total
_ _ _ thous. of pairs.
By types of uppers:d*
All leather
__.
__ _ do _ Part leather and nonleather
do
By kinds:
Men's
do
Youths' and boys'___
do
Women's
do
Misses' and children's
do
Infants' and babies'
__
do
Slippers for housewear
do
Athletic
_.
do _
Other footwear
do
Exports
do
Prices, wholesale, factory, Goodyear welt, leather
sole:
Men's black calf oxford, plain toe__ dol. per pair..
Men's black calf oxford, tip toe
do __
Women's black kid blucher oxford
. do
37, 089
44, 818
37, 626
35, 098
38, 509
32, 987
44, 969
41, 538
34, 180
41, 266
34, 262
31, 429
34, 152
28, 845
38, 926
34, 858
31,225
26, 850
31, 697
2, 506
38, 037
3,183
31, 171
4,454
28, 018
3,351
32, 622
5,911
26, 360
2,580
35, 630
3,405
32, 293
2,660
29, 474
1,802
25, 457
1 617
8,141
1,077
17,151
4,629
3,182
2,497
227
185
341
9,623
1,407
20, 818
5,634
3,784
3,068
261
223
358
7,790
1,209
17, 537
4,497
3,229
2,931
216
217
393
7,283
1,217
16, 149
3, 956
2,824
3,212
246
211
323
8,431
1,639
16, 748
4,267
3,067
3 877
255
225
287
6,383
1,464
15, 234
3, 541
2,223
3 706
221
215
334
8,702
1,797
20, 791
4,782
2,854
5,476
306
261
527
8,409
1,710
18, 052
4,156
2,531
6 067
299
314
406
8 249
1,608
14 818
3,941
2 609
6 379
304
300
409
7 205
1,131
12 211
3,736
2 567
6 149
266
225
365
9. 653
6.750
5.150
9.653
6.750
5.150
9.653
6.750
5.150
9.653
6.600
5.150
9.653
6.600
5.150
9.653
6.600
5.150
9.653
6.600
5. 150
9.653
6.600
5.150
9.604
6 600
5.150
9. 555
6 600
5.150
9.555
6 600
5 150
9.555
6.600
5.150
T
9.555
6.600
5.150
LUMBER AND MANUFACTURES
LUMBER—ALL TYPES
1
Exports total sawmill products J
M bd ft
Imports total sawmill products
do
National Lumber Manufacturers Association:
Production totalj
mil. bd. ft_HardwoodsJ
do
SoftwoodsJ
- _-do
Shipments total!
do
Hardwoo'dsJ
- -do - _ _
Softwoods J
do
Stocks, gross (mill and concentration yards), end
of month, total!
mil. bd. ft._
Hardwoodst
do
Soft woods 1
do
51, 731
98, 673
54, 161
123, 435
49, 838
103, 852
59, 784
117, 351
60, 234
121, 115
44, 549
100, 173
61, 796
123, 729
74, 533
146, 878
52 514
170, 493
62 046
200, 847
44 529
173 518
33 746
167 260
2,057
450
1,607
1,946
378
1,568
2,658
568
2,090
2,533
463
2,070
2,613
2, 731
2,432
413
2,019
2,371
379
1,992
2,938
471
2,468
2,901
450
2,451
2,874
469
2,405
2,951
478
2,473
2,790
501
2,289
2 903
500
2,402
2,947
538
2,409
3 209
603
2 606
2 956
406
2,247
2,778
426
2,352
2,729
368
2,361
2 329
2,387
633
1,754
2 633
697
1 936
2,463
601
1,862
2 865
689
2, 176
7,515
2,406
5,109
7,679
2,512
5,167
7,671
2,482
5,189
7,743
2,490
5,253
7,776
2,548
5,228
7,859
2,582
5,277
7, 914
2,603
5,311
7,851
2,594
5,257
7,777
2,594
5,183
7,306
2,529
4 777
7,279
2 542
4 737
7,028
2,478
4 550
6,976
2,390
4 586
i 26, 241
1 12, 526
i 13, 715
28, 914
17, 407
11, 507
'r 24, 145
11,751
12, 394
29, 617
4,307
25, 310
27, 606
9,681
17, 925
20, 594
4,852
15, 742
31, 062
5,474
25, 588
42, 275
9,054
33, 221
24, 305
5,008
19, 297
30, 784
7 884
22, 900
18 685
3 882
14 803
10 916
4 437
6 479
377
2,236
2,625
407
2,218
414
2,317
2,653
654
2 302
2 985
656
SOFTWOODS
Douglas fir:
Exports, total sawmill products
M bd. ft_
Sawed timber
do
Boards, planks, scantlings, etc__
-do _
Prices, wholesale:
Dimension, No. 1, common, 1" x 4" x 16'
dol. per M bd. ft__
Flooring, B and better, F. G., 1" x 4", R. L.
dol. per M bd. ft..
Southern pine:
Orders new
mil. bd ft
Orders, unfilled", end of month
do
Production
_
do
Shipments
do
Stocks, gross (mill and concentration yards), end
of month
mil. bd. ft
Exports, total sawmill products
M bd. f t _ _
Sawed timber
_
do
Boards, planks, scantlings, etc
do
Prices, wholesale, composite:
Boards, No. 2 common, I" x 6" or 8" x 12'
dol. per M bd. ft..
Flooring, B and better, F. G., 1" x 4" x 12-14'
dol. per M bd. it-Western pine:
Orders, new
mil bd ft
Orders, unfilled, end of month
do
Production^
do
Shipments!
do
Stocks, gross, mill, end of month
.do
Price, wholesale, Ponderosa, boards, No. 3 common, 1" x 8"
dol. per M bd. ft
West coast woods:
Orders, new
mil. bd. f t _ _
Orders, unfilled, end of month _
do
Production
do
Shipments
do
Stocks, gross, mill, end of month__ __ _ do
r
r
67. 815
68. 310
68. 310
68. 310
67. 568
64. 680
63. 896
62. 720
62. 720
62. 720
63. 210
64. 484
66. 640
133. 650
128. 700
127. 958
122. 562
118.058
114. 660
114. 660
114. 660
108. 780
105. 448
104. 860
102. 900
103. 635
725
690
711
627
539
1
738
282
598
560
307
706
713
1,809
9, 299
3,218
6,081
1,802
11,390
4,330
7,060
660
276
661
691
1,772
'r 7, 469
3, 053
4,416
261
728
740
1,760
10, 202
3,797
6,405
765
291
703
676
714
802
253
756
678
1 623
7 925
2 791
5 134
1 650
9 104
2 688
6 416
1 621
372
782
810
1,740
»• 9, 934
3,457
r
6, 477
1,732
9,028
3,016
6,012
1, 656
9,218
2,737
6,481
1,628
8,869
2,488
6,381
59. 479
61. 173
63. 326
64. 311
65. 008
65. 467
65. 765
65. 618
139.200
136. 484
138. 542
139. 583
140. 256
140. 256
141. 114
139. 472
693
643
630
757
264
405
461
64. 167
62.001
60.380
59.033
146. 650
144. 513
142. 865
139. 374
568
684
545
842
340
744
820
65. 400
457
913
247
670
678
148. 409
306
697
228
703
723
643
673
374
701
763
304
760
781
1,566
8, 468
2,376
r 6 092
1 545
9 226
3 298
5 928
r
624
397
667
696
466
381
400
1,548
1,529
492
579
523
1,586
1,644
1,713
1,763
1,829
1,840
1,847
1 724
1 632
1 491
467
755
326
439
1 377
68.05
67.48
66.80
65.84
65.20
62 54
59 21
57.02
57 56
58 00
59 18
60 37
61 26
621
610
770
650
705
584
642
524
646
403
612
476
794
570
813
582
790
607
878
573
776
517
919
800
748
848
644
796
766
531
238
288
577
559
940
761
743
979
498
619
561
743
760
981
709
701
984
539
712
643
607
628
678
629
721
655
699
627
626
683
751
904
513
534
903
735
720
936
725
778
899
96, 538
102 578
62, 947
169, 274
172, 478
59, 756
168, 747
169, 832
58, 881
734
617
610
759
563
627
767
477
569
723
769
890
824
922
643
820
832
631
176, 197
178 764
55 984
176, 501
180 945
51 316
179, 876
186 030
44 941
575
636
567
SOFTWOOD PLYWOOD
Production
thous. of sq. ft., %" equivalent _ _
Shipments
._ _
do
Stocks, end of month
__ do ...
143, 180
133, 192
84, 534
176,061
179, 021
81, 526
153, 516
158, 279
76, 148
154, 677
152, 137
77, 811
151, 386
160, 856
68. 742
4,025
8,750
4,200
3,700
7,850
5,000
7,575
5,000
5,200
8,550
3,950
8,500
4,175
3,950
7,725
3,400
7,325
4,275
3,675
8,000
4,299
6,872
5,246
4 651
8,843
' 175, 484
r iQg 635
r 55 268
178, 080
177 303
55 699
HARDWOOD FLOORING
Maple, beech, and birch:
Orders, n e w
__ _ _ _ _ _ _
Orders, unfilled, end of month
Production _ _
Shipments
Stocks, mill, end of month
M b d . ft_
do
do
do
_.do
4 275
4 300
4 525
4 200
4 800
5 400
4 325
5 275
6,6CO
6,875
6,300
6,850
7,125
7,225
5,900
8,250
4 325
4 650
4 900
4 375
4 175
4 125
4 225
4 450
3 950
4 000
4 550
4 200
4 575
4 AK f\
4 250
4 225
Q fisn
10. 000
in 095
9 Q9S
9. fiSO
9.300
9.700
10. 150
r
Revised.
1 Revised exports of sawmill products for January 1949 are as follows (M bd. ft.): Total (all types of lumber), 45,423; Douglas fir—total, 24,787; sawed timber, 7 980- boards,
planks, scantlings, etc., 16,807; Southern pine (total), 9,139.
§1948 data for production of shoes and slippers have been revised; revisions January-July are shown in the September 1949 SURVEY on p. S-31.
cfThe figures include a comparatively small number of "other footwear" which is not shown separately from shoes, sandals, etc., in the distribution by types of uppers; there are further
small differences between the sum of the figures and the totals for shoes, sandals, and play shoes, because the latter, and also the distribution by kinds, include small revisions not available
by types of uppers.
JSee note at the bottom of p. S-30 of this issue regarding revised lumber series.
t
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
April 195C
1950
1949
Febru-
ary
March
May
April
July
June
August
Septem-
ber
October
Novem-
Decem-
January
ber
ber
74,615
55, 715
72, 953
74, 818
44, 201
71. 891
61, 488
69, 066
66, 118
47, 149
85, 965
75, 816
71, 038
71, 637
45, 612
372, 573
187, 451
18,189
17, 557
' 73, 553 84, 769
18, 930
11,924
298, 605
13, 552
96, 523
33, 468
Febru-
ary
LUMBER AND MANUFACTURES—Continued
HARDWOOD FLOORING—Continued
Oak:
Orders new
Orders, unfilled, end of month
Production
..
Shipments
Stocks, mill, end of month
_
M bd. ft
do
do_ _
do
_ do. _.
50, 086
32, 964
54, 460
51, 204
58, 151
61, 264
34, 744
65, 504
64, 869
58, 786
54,156
34, 933
61, 441
60, 360
59, 867
58, 749
31, 879
64, 409
61, 803
62, 473
56, 876
31, 908
66, 584
62, 825
66, 232
62, 722
30, 229
58, 250
61, 691
62, 791
78, 066
35, 029
70, 606
73, 266
57, 135
87, 382
47, 846
71, 309
74, 565
53, 879
85, 525
55, 918
72, 162
77, 453
47, 202
91, 090
95, 627
68, 334
71, 297
41, 201
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excl. advanced mfrs,):
Exports, total
short tons..
Scrap
do
Imports, total
_ _ _ _ do
Scrap
do
i 388, 671 ' 457, 018 ' 565, 170 r r553, 244
r 12, 794
r 33, 247
52, 408
ri 10, 238
i 295, 009 ' 304, 844 ' 189, 379 r 161, 725
118, 839
127, 675
i 199, 846 239, 226
599, 093
50, 866
109, 133
91,838
507, 212
r 23, 210
56, 133
52, 359
509, 644
27, 342
50, 667
43, 207
r
521, 543
>• 22, 423
19, 327
5,618
255, 787
20, 319
30, 283
17, 086
r
r
Iron and Steel Scrap
Consumption, total
thous. of short tons
Home scrap
do
Purchased scrap
do ...
Stocks, consumers', end of month, total
do
Home scrap
do_ _ _
Purchased scrap
.
-do
5,346
2,658
2,688
5,882
1,403
4,479
5,925
2,976
2,949
5,842
1,466
4,376
5,223
2,722
2,501
5,771
1,555
4,216
4,968
2,719
2,249
5,745
1,626
4,119
4,398
2,500
1,898
5,824
1,751
4,073
3,800
2,241
1,559
5,748
1,820
3,928
4, 756
2,747
2,009
5,351
1,789
3,563
4,631
2,658
1,973
4,824
1,531
3,293
1,664
765
899
5,340
1,737
3,603
3,401
1,795
1,606
5,497
1,693
3,804
5,320
2,824
2,496
5,718
1,642
4,076
2,882
1,610
8,107
4,335
2,799
9,643
9,889
10, 910
8,623
11, 865
12, 549
7,939
12,923
13, 750
7,112
12, 757
13, 696
6,172
11, 986
12, 582
6, 576
10, 164
10, 421
5,319
'709
1,591
4,456
2,049
2,079
4 407
2,816
1,649
5,575
2,777
1,524
6 831
0
6,992
24, 981
21, 811
3,170
391
499
7,735
17, 308
15, 050
2,258
386
8,868
7,322
17, 803
15, 770
2,033
560
11, 656
7,277
21, 508
19, 273
2,235
650
12, 162
6,249
27, 696
24, 957
2,739
642
12, 768
5,258
35, 064
31, 493
3,571
946
11,315
5,711
40, 811
36, 084
4,728
1,025
9,461
5,541
45, 356
39, 346
6,010
968
1,575
877
47, 017
39, 585
7,432
461
1,103
3,520
44 786
37, 848
6 939
654
171
6,760
38, 629
32, 544
6,085
348
6 740
32 004
26 710
5 294
601
55
48
38
37
60
42
46
50
44
'60
'80
47
1,857
987
535
1,639
1,075
567
1,446
929
467
1,243
867
439
1,087
906
455
1,032
697
342
1,048
872
446
980
881
459
955
716
398
939
719
395
892
862
440
914
913
r 450
26, 999
118, 318
66, 744
35, 074
22, 204
102, 379
72, 052
38, 143
24, 307
94, 958
61, 329
31, 728
11, 629
78, 944
54, 572
27, 643
23, 560
69, 865
59, 597
32, 639
24, 147
70, 796
44, 360
23, 216
20, 861
61, 330
58, 121
30, 327
26, 828
57, 512
60, 488
30, 646
25, 392
54, 322
57, 150
28, 582
26, 723
55 795
49, 439
25 250
34, 719
60 835
57, 379
29 679
5,223
5,135
5,820
5,771
5,531
5,406
5,517
5,290
4,819
4,573
4,173
4,054
4,477
4,604
4,350
4,495
612
753
2 722
2,773
5,231
5,215
Ore
Iron ore:
All districts:
Production
.. thous. of long tons
Shipments _
.
__do
Stocks, end of month
do
Lake Superior district:
Shipments from upper lake ports _
do
Consumption by furnaces
do _ _ _
Stocks, end of month, total
do
At furnaces. . _
do__
On Lake Erie docks _
do
Imports
__
.__
do_ _
Manganese ore, imports (manganese content)
thous. of long tons__
Castings, gray iron:
Unfilled orders for sale
thous. of short tons
Shipments, total
do
For sale
__
do
Castings, malleable iron:
Orders, new, for sale
short tons
Orders, unfilled, for sale
do
Shipments, total
_ _ _
do
For sale
do
Pig iron:
Production. _. _
thous. of short tons
Consumption
do
Stocks (consumers' and suppliers'), end of month
thous. of short tons
Prices, wholesale:
Composite
dol. per long ton
Basic (furnace),
do_ __
Foundry, No. 2, f. o. b. Neville Island
do
o
0
5,329
26, 745
22, 103
4 642
873
864
417
390
307
874
918
35, 991
67 049
60 386
31 249
5 294
4 173
34
62
62
32
1,295
1,350
1,525
1,775
1,942
2,013
1,847
2,230
1,616
1,446
1,499
47.67
46.00
46.50
47.67
46.00
46.50
47.55
46.00
46.50
46.62
46.00
46.50
46.62
46.00
46.50
46.62
46.00
46.50
46.62
46.00
46.50
46.68
46.00
46.50
46.68
46.00
46.50
46.68
46.00
46.50
46 68
46 00
46 50
46 68
46 00
46 50
46.85
46.00
46 50
138, 889
102,027
30, 313
119, 953
83, 277
23, 834
106, 178
75, 537
22, 165
116, 052
84, 112
26, 940
78, 710
50, 124
14, 625
89, 964
59, 412
13, 348
86, 502
55, 853
11, 823
70, 690
48, 263
8 964
76, 437
50 685
7 270
84,508
53 079
9 258
88, 821
57 996
9 298
91, 827
62 045
10 920
504, 142
410, 248
93, 894
120, 035
85, 986
34, 049
464, 782
379, 673
85, 109
104, 305
76, 116
28, 189
411, 601
338, 912
72, 689
91,775
67, 580
24, 195
376, 761
310, 182
66, 579
100, 756
77, 877
22, 879
348, 239
293, 206
55, 033
70, 129
55, 072
15, 057
311, 923
257, 259
54, 664
95, 794
73, 630
22, 164
294, 240
250, 239
44, 001
88,417
71,781
16, 636
280, 291
231,849
48, 442
81, 278
65, 651
15, 627
286 897
240, 715
46 182
72 859
56 455
16 404
656
816
840
266
765
501
327 035
280, 023
47 012
92 994
73 458
19 536
340 955
294, 251
46 704
92 547
73 440
19 107
8,388
103
7,785
98
7,590
93
6,498
82
5, 779
71
6,715
82
6,590
84
925
11
4 216
53
7 717
95
7 930
r 94
6 793
89
Steel, Crude and Semimanufactures
Steel castings:
Shipments, total
short tons.. 135, 042
99, 425
For sale, total.
do
32, 545
Railway specialties
do
Steel forgings, for sale:
f 538, 798
Orders, unfilled, total
do
r 445, 248
Drop and upset
do
' 93, 550
Press and open hammer _
do
••111,024
Shipments, total
do
'r 80, 912
Drop and upset ___
_ _ _ __do
Press and open hammer. __ _ _
do
30, 112
Steel ingots and steel for castings:
Production
_ .thous. of short tons
7,481
101
Percent of capacityj
Prices, wholesale:
Composite, finished steel
dol. per Ib
.0420
Steel billets, rerolling (producing point)
58.24
dol. per long ton__
Structural steel (Pittsburgh)
dol. per Ib
.0350
Steel scrap, heavy melting (Pittsburgh)
39.50
dol. per long ton._
307
263,
43
78
61
16
.0420
.0420
.0420
.0420
0420
.0420
0420
0420
0420
0427
0438
0438
58.24
.0350
58. 24
.0350
58.24
.0350
58.24
.0350
58.24
.0350
58.24
.0350
58.24
.0350
58.24
. 0350
58.24
. 0350
58.80
.0363
59.36
0375
59.36
0375
37.25
26.60
23.25
23.00
21,00
21.00
27.75
29.38
31.38
31.00
30.00
31.63
7,693
1,917
34
6, 693
1, 745
22
6,200
1,921
32
5,197
2,087
29
5,815
1,833
30
5,645
1,990
33
5,401
2,419
28
' 5, 361
' 1, 694
31
5,298
1,682
26
4,592
1,956
49
'r 4, 863
1 635
61 1
4,937
1 758
42
Steel, Manufactured Products
Barrels and drums, steel, heavy types:
Orders, unfilled, end of month
thousands-Shipments
_.
_
do
Stocks, end of month
do
7,582
1,801
31
' Revised.
1
Revised data for January 1949 are as follows (short tons): Iron and steel products—total exports, 436,706; scrap exports, 10,001; total imports, 288,189; scrap imports, 166,448.
JFor 1950, percent of capacity is calculated on annual capacity as of January 1, 1950, of 99,392,800 tons of steel; 1949 data are based on capacity as of January 1,1949, 96,120,930 tons.
SURVEY OF CURRENT BUSINESS
April 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-33
1950
1949
Febru-
ary
March
April
May
June
July
August
Septem-
ber
October
Novem-
Decem-
ber
January
Febru-
227, 359
150, 987
76, 372
198, 034
811
19, 554
r 219, 119
r 146, 653
r 72, 466
r
184, 918
831
16, 767
'r 209, 187
136,899
* 72, 288
r
176, 582
951
21, 365
198, 831
121,680
77, 151
163, 562
908
22, 066
ber
ary
METALS AND MANUFACTURES—Continued
IKON AND STEEL—Continued
Steel, Manufactured Products— Continued
Cans, metal, shipments (in terms of steel consumed),
total
short tons Food ..
do ...
Nonfood
do
Shipments for sale. _ ___
___ _
do_ _ Commercial closures, production .
.millions. _
Crowns, production
thousand gross_.
Steel products, net shipments:
Total
thous. of short tons. Bars, hot rolled— Carbon and alloy. _ _ _ d o
Reinforcing
do
Semimanufactures
_ _ ______
..do _ _
Pipe and tubes
do
Plates
_
do
Rails
do
Sheets
do
Strip— Cold rolled
do
Hot rolled
do
Structural shapes, heavy
do
Tin plate and terneplate
do
Wire and wire products
do
190, 755
126, 377
64, 378
163, 389
833
22, 316
208, 188
131, 004
77, 184
172, 320
905
25, 496
204, 353
126, 898
77, 455
169, 194
768
23, 408
230, 167
147, 808
82, 359
189, 024
737
23, 422
303, 921
208, 633
95, 288
259, 026
779
27, 559
314, 372
219, 067
95, 305
282, 977
746
26, 984
489, 794
383, 603
106, 191
444, 976
920
29, 709
416, 974
312, 538
104, 436
371, 691
910
25,511
5, 520
655
133
308
584
590
179
1, 365
150
146
359
300
404
6,306
757
150
308
721
684
207
1,562
170
169
394
333
451
5,597
677
141
223
635
619
199
1,437
144
155
375
295
365
5,235
597
134
202
618
590
193
1,330
132
142
378
292
338
5,177
564
141
139
623
517
211
1,355
121
150
327
387
347
4,535
432
125
125
550
464
182
1,290
76
125
290
418
241
4,918
465
156
136
648
481
196
1,377
106
153
300
322
334
5,236
524
162
125
655
467
162
1,497
122
179
309
394
386
935
89
31
18
121
51
'1
316
64
38
8
81
71
3,297
325
125
104
400
290
31
990
78
90
215
246
268
5,411
606
138
220
653
519
141
1,506
137
164
341
326
419
49, 749
175, 704
r 54, 851
254, 512
54, 076
180, 765
r 56, 920
182, 760
54, 184
262, 247
55, 777
182, 171
49, 739
245, 978
45, 790
252, 431
35, 865
243 748
.1022
.0847
.0702
.0630
.0605
.0575
.0651
.0725
.0737
137.3
27.2
110.0
80.7
.346
152.9
27.5
125.4
92.4
.345
129.5
23.8
105.7
73.1
.331
110.4
21.4
89.0
56.9
.295
103.9
23.3
80.7
48.1
.276
90.4
18.6
71.7
42.8
.277
104.2
24.0
80.2
49.3
.282
123.4
27.6
95.8
65.3
.282
135.3
29.1
106.2
75.9
.282
56, 576
77, 906
72, 568
67, 343
61,314
56, 735
55, 851
58, 013
76, 941
80, 275
97, 861
83, 841
10, 653
59, 160
27, 861
31, 299
.2320
97, 123
88, 165
113, 154
68, 450
15,415
64, 414
31, 822
32, 592
.2318
91, 589
81, 258
93, 873
98, 139
76, 134
32, 566
76, 494
128, 441
14, 910
11,248
' 48, 487 46, 548
r 27, 161
19, 044
21, 326
27, 504
.2145
.1776
72, 051
92, 118
45, 653
166, 925
17, 066
46, 570
20, 221
26, 349
.1634
62, 449
85, 638
45, 316
212, 817
10, 349
33, 829
14, 414
19, 415
.1706
62, 279
85, 577
90, 739
217, 167
8, 695
45, 372
24, 372
21,000
.1733
64, 870
79, 949
103, 115
193, 890
14, 214
38, 177
15, 745
22, 432
.1733
32, 562
32, 285
39, 714
43, 558
36, 979
38, 715
36, 731
38, 347
36, 069
36, 654
29, 778
32, 126
33, 852
32, 255
42, 254
r 39, 475
51,373
r 26, 696
r 53, 422
48, 957
r 16, 229
r 68, 353
51, 206
45, 455
r 29, 132
r 96, 367
38, 332
r 32, 562
r 91, 834
37, 754
r 33, 581
r 75, 285
285, 644
188, 092
97, 552
252, 522
874
19, 936
5,483
620
122
228
671
456
151
' * 1, 572
141
176
325
348
424
5,135
602
101
220
633
346
125
1
1, 502
141
167
309
329
408
41, 161
259, 203
52, 023
232 813
50, 443
.0775
.0775
.0775
.0775
107.1
26.3
80.7
54.1
.286
119.8
26.8
93.1
61.2
.287
129.5
28.8
100.7
68.5
«• .287
140.2
28.9
111.3
77.0
.287
60, 108
62, 243
62, 565
* 71, 464
67, 478
69, 052
86, 882
108, 192
164, 464
9,388
37, 231
25,102
12, 129
.1733
80, 598
92, 602
117, 133
139, 199
13 075
41 786
21 811
19, 975
o!806
80, 390
94, 947
107, 662
116, 027
25 049
59, 117
39 274
19, 843
'. 1820
85, 612
95, 229
111, 668
101, 070
12, 165
56, 114
25 647
30, 467
.1820
81, 216
94, 036
112, 773
77, 472
30, 549
30,161
29, 734
29, 497
31 186
36, 329
33, 868
37, 888
36, 362
35, 031
36, 452
34, 928
r 28, 298
r 60, 208
46, 246
r 22, 695
r 64, 859
48, 500
r 36, 799
•• 65, 065
48, 896
r 22, 738
r 70, 424
47, 512
25, 683
76, 529
41, 670
21,855
79, 143
.1200
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production primary
short tons
Imports bauxite
long tons
Price, wholesale, scrap castings (N. Y.)
dol. per l b _ _
Aluminum fabricated products, shipments, total
mil. of lbs__
Castings
__
do
Wrought products, total
do
Plate, sheet, and strip.
. _
do
Brass sheets, wholesale price, mill
dol. per lb_.
Copper:
Production:
Mine production, recoverable copper
short tons__
Crude (mine or smelter, including custom intake)
short tons
Refined
do___
Deliveries, refined, domestic
_
do
Stocks, refined, end of month
do
Exports refined and manufactures
do
Imports total
do
Unrefined including scrap
do
Refined
do
Price, wholesale, electrolytic (N. Y.)_-dol. per l b _ _
Lead:
Ore (lead content) :
Mine production
short tons
Receipts by smelters, domestic ore
do
Refined (primary refineries) :
Production!
do
Shipments (domestic) f _ _ - _ _ _ _ _ _ . .do
Stocks, end of monthf
do
Price, wholesale, pig, desilverized (New York)
dol. perlb..
Imports, total, except mfrs. (lead content)
short tons
Tin:
Production, pig
long tons
Consumption, pig
do
Stocks, pig, end of month, total §
do
Government!
do
Industrial
do
Imports:
Ore (tin content)
_ __
do
Bars, blocks, pigs, etc
do
Price, wholesale, Straits (N. Y . ) _ _ _ _dol. per Ib
Zinc:
Mine production of recoverable zinc short tons
Slab zinc:
Production
_
do
Shipments, total . _
_..
do
Domestic
_ _ _ _ _
_
do
Stocks end of month
do
Price, wholesale, prime Western (St. Louis)
dol. perlb..
Imports, total (zinc content)
short tons
For smelting, refining, and export.
do
For domestic consumption:
Ore (zinc content)
__
do
Blocks, pigs, etc
do
r 36, 101
r 19, 060
r 90, 471
.2150
.1891
.1515
30, 859
r 32, 833
*• 25, 870
' 48, 718
71, 661
r
3,545
4,461
39, 827
25, 199
14, 628
3,382
4,723
41, 602
27,903
13, 699
3,066
4,228
43, 322
31, 116
12, 206
3,241
4,186
41, 130
30, 550
10. 580
2,443
2,526
1. 0300
3,174
8,795
1. 0300
4,205
8,493
1. 0300
52, 963
62, 049
69, 193
68, 522
60, 827
21, 100
.1750
13, 044
2,211
1372
.1200
r
52, 005
276. 727
r
.1820
.1356
.1503
.1505
.1342
.1252
.1200
.1200
9, 300
30, 856
19, 240
28, 159
25 951
27, 356
31, 286
3,346
4,161
43, 431
33, 704
9, 727
3, 129
3,990
40, 679
31, 146
9.533
3,307
5,045
31,416
21, 703
9,713
3,171
4,852
30, 287
20, 873
9,414
3,246
2,411
32, 070
22, 403
9,667
3 313
3,925
35 165
23, 129
12, 036
3.081
4,605
r 35, 777
22, 452
r 13. 325
r 3, 764
4,210
1. 0300
2,108
4,049
1. 0300
2,210
3,318
1.0300
2,332
6, 434
1. 0300
3,284
6,458
1.0209
4,899
7,558
.9572
4,122
4,881
.9119
1,793
2,915
.8300
6,153
7,409
.7593
59, 185
55, 925
54, 271
40, 256
45, 068
41, 887
38, 823
40 112
41 687
43 610
78, 121
71,017
51, 381
28, 204
75, 921
53, 143
35, 948
50, 982
77, 537
52, 689
35, 564
75, 830
73, 989
66, 900
44, 820
82, 919
74, 569
72, 080
62, 443
85, 408
73, 819
74, 339
68, 659
84, 888
70, 368
70, 228
60, 371
85, 028
64, 399
51, 761
43, 998
97, 666
65, 055
73, 702
63, 859
89 019
71,327
66, 125
57, 801
94 221
69, 948
' 82, 132
69,
020
r
82 037
69, 639
84, 257
72, 843
67, 419
.1706
«• 20, 613
4,090
.1406
20, 066
5,447
.1188
36, 484
9,025
.0955
30, 534
6,873
.0936
21, 113
5,669
.1000
24, 756
3,839
.1001
23, 198
1,692
.0932
20, 507
1,109
.0975
28 454
935
.0975
21 294
207
.0976
23 157
60
.0975
7,606
8, 925
7,994
6,625
19, 868
7,591
15, 093
8,568
5,747
9,697
9,941
10, 976
8,265
13, 241
4, 931
14, 467
9 931
17,588
7,106
13, 981
12 491
10, 606
8,239
90, 152
7,127
100, 759
6,042
105, 574
8,528
112, 115
13, 155
109, 624
14, 265
101, 842
27 270
89 724
33, 839
74, 863
36 989
61, 511
25 185
56 796
15 025
60 117
10 595
70 978
1,823
9,226
1,412
11. 896
1,305
13, 833
1,510
14, 803
2,221
13. 706
2,747
12, 068
4,130
10. 485
5,363
8.548
5,970
6.491
4,190
5.602
2,813
5.688
2 678
fi. 806
r 3
5,014
5, 821
r
r
r
2,987
4, 941
39, 827
25, 991
13, 145
2
.7435
HEATING APPARATUS, EXCEPT
ELECTRIC
Boilers, radiators and convectors, cast iron:
Boilers (round and square) :
Shipments
thous of Ib
Stocks, end of month
__
do
Radiation:
Shipments
-thous. of sq. ft
Stocks, end of month
do
r
Revised.
» Preliminary.
1 Includes data for electrical strip.
Includes small amount not distributed.
3 Revised data for January 1949,11,849 short tons.
§Government stocks represent those available for industrial use.
fRevised scries. Data beginning 1949 have been revised to exclude figures for secondary refineries. The production figures (corresponding to those formerly designated as primary) include
some secondary lead produced by primary refineries. Data for January 1949 are as follows (short tons): Shipments (domestic), 48,640; stocks, 36,564. Earlier data will be published later.
SURVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
April 195(
1950
1949
February
March
April
May
June
July
August
September
October
November
December
January
Febru
ary
METALS AND MANUFACTURES—Continued
HEATING APPARATUS, ETC.—Continued
Boilers, range, shipments
number
Oil burners:
Orders, unfilled, end of month
do
Shipments. _
__
_
do _
Stocks end of month
do
Stoves and ranges, domestic cooking, exc. electric:
Shipments, total
number
Coal and wood
_ _
_ do _ _
Gas (inc. bungalow and combination)
do _
Kerosene, gasoline, and fuel oil
_ do
Stoves, domestic heating, shipments, totaL._do.
Coal and wood _
_ _
_ _ _ do
Gas
do
Kerosene, gasoline, and fuel oil
do
Warm-air furnaces (forced-air and gravity-air flow) ,
shipments, total
number
Gas
do
Oil
_
do
Solid fuel
do
Water heaters, nonelectric, shipments _
_ do
31, 892
36, 295
27, 799
24, 867
29, 250
27, 587
39, 273
41, 492
44, 164
37, 937
41, 362
42 101
47, 722
23, 878
43, 581
47, 673
25, 895
47, 112
51, 231
25, 504
56, 430
51, 388
34, 906
54, 684
51, 210
46, 862
48, 050
55 060
41, 589
46, 910
60, 801
74, 116
42, 004
65, 364
94, 805
35, 451
56, 518
96, 963
29, 014
47, 562
60, 342
32, 785
44, 176
40, 906
39, 130
41,206
36 650
40, 040
154, 230
16, 285
118,171
19, 774
98, 800
15, 102
32, 986
50, 712
189, 388
17, 107
152,217
20, 064
112, 212
11, 107
42, 038
59, 067
177, 962
12, 610
150, 737
14,615
89, 125
12, 986
34, 354
41, 785
177, 292
10, 797
152, 382
14, 113
99, 691
17,716
45, 821
36, 154
187, 294
10, 477
163, 115
13, 702
187, 626
42, 249
62, 692
82, 685
149, 399
11, 780
126, 619
11, 000
288, 102
75, 257
104, 603
108, 242
241, 977
17, 144
207, 521
17,312
563, 694
146, 962
220, 861
195, 871
262, 193
18, 926
229, 244
14, 023
734, 975
213, 955
263, 859
257, 161
291, 030
16, 718
257, 506
16, 806
666, 940
206, 025
263, 134
197, 781
269 616
15 012
238, 780
15 824
505 989
140 391
243 369
122 229
'204 521
r 9, 436
192 107
10 581
167, 2^1
14 305
110, 189
12 088
62 366
35 735
33, 125
8,543
8,834
15, 748
108, 485
41, 376
12, 146
10, 330
18, 900
133, 674
34, 595
12, 263
9,668
12, 664
140, 597
42, 427
17, 131
12, 613
12, 683
150,111
55, 857
24, 573
16, 820
14, 464
165, 597
48, 551
20, 059
15, 237
13, 255
144, 701
84, 250
36, 492
26, 143
21, 615
180, 632
111, 582
48, 235
30, 852
32 495
191, 787
102, 989
44, 606
34, 676
23 707
200, 959
78 828
38 472
24 650
15 706
184' 147
''SI 766
25, 736
T
17, 543
r 181,
112
13, 973
186, 219
45, 669
99 041
41, 509
r %
487
* 160 785
39 887
20. 353
13 696
5 838
164 863
MACHINERY AND APPARATUS
Blowers, fans, and unit heaters, quarterly:
Blowers and fans, new orders
thous. of dol
Unit heater group, new orders.
do
Foundry equipment (new), new orders,
net
_ _
1937-39=100
Furnaces, industrial, new orders:
Electric
.. thous. of dol
Fuel-fired (except for hot rolling steel)*
do
Machine tools, shipments
1945-47=100
Mechanical stokers, sales:
Classes 1, 2, and 3
__number
Classes 4 and 5:
Number ___
_ _
Horsepower
Pumps, steam, power, centrifugal and rotary, new
orders
thous. of dol
12, 672
6,549
15 695
12 213
17 033
11,432
16, 266
6,075
144.4
190.8
172.0
121.9
164.9
146.6
127.1
166. 6
133.5
270 4
^201 0
159 3
113 1
402
636
70.3
436
305
75.8
543
323
74.7
762
438
72.8
196
257
79.0
329
594
60.7
210
706
67.3
318
589
67.6
565
269
62.3
293
516
67 6
281
719
75 7
473
1 914
r 52 8
69<
61(
P 55 £
1,820
1,784
1,524
1,552
2,676
2,378
4,214
6,671
4,257
2 257
1 469
1 3'' 7
67C
144
43, 781
133
47, 957
117
37, 836
158
30, 910
252
58, 142
191
31, 703
343
65 118
268
50 693
239
40 923
209
52 631
163
46 854
T ]()6
r 29 700
95
28 564
3,247
3,593
2,699
2,775
3,019
3,358
3,767
2,914
2,539
2 525
2 560
2 587
2 93£
826
560
499
685
1.059
1,637
2,648
2,786
2,573
2,132
1, 467
1,159
245
309, 897
242, 500
216
252, 656
192, 500
220
222, 850
211, 700
197
207. 354
260, 700
210
161, 920
200, 900
205
219 909
323 789
206
250, 036
357 281
168
272, 520
333 700
137
253 516
298 700
161
265, 513
237, 591
249, 150
275 600
263, 515
343 000
329
366
315
285
282
240
273
318
330
345
338
4,077
4,702
4,170
3,697
3,646
3,329
3, 649
4,380
4,479
4,723
4,625
4,696
4,788
4,227
4,324
3,844
3,966
3, 649
2,776
2,678
3,038
3,201
3,231
3,155
3,632
3,439
1,454
1,496
1,247
1,133
982
810
947
1,013
1,063
1,112
1,097
1,217
1,269
21, 630
24, 590
21,931
17, 566
13, 240
12, 568
12, 400
14, 992
17,683
12 662
20, 946
r
ELECTRICAL EQUIPMENT
Batteries (automotive replacement only) , shipments
thousands _ .
Domestic electrical appliances, sales billed:
Refrigerators, index
1936—100
Vacuum cleaners, standard type. _ number
Washers
do
Insulating materials and related products:
Insulating materials, sales billed, index 1936=100. _
Fiber products:
Laminated fiber products, shipments
thous. of dol__
Vulcanized fiber:
Consumption of fiber paper
thous. of lb._
Shipments of vulcanized products
thous. of dol__
Steel conduit (rigid) and fittings, shipments
short tons.
Motors and generators, quarterly:
New orders, index
_ _ .1936=100
Polyphase induction motors, 1-200 hp.tcf
New orders
_
_ thous. of dol
Billings
do
Direct current motors and generators, 1-200 hp.rc?
New orders
thous. of dol
Billings
do_ _
224
r
241, 574
201, 300
r
1, 694
262
240
224
232
21,148
22, 421
18, 679
20, 542
17, 715
19 655
18 521
17 912
5,266
5, 236
4,997
4, 833
2 890
3,248
3 747
r 3 472
r
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
T
Production
. _ thous. of short tons. _
2,373
4,403
3,921
2,927
3,722
3,403
3,707
2,112
4,975
4,653
2,746
2, 914
2,581
Stocks in producers' storage yards, end of month
442
584
thous. of short tons._
837
573
661
450
879
724
601
1,138
975
358
658
Exports
_ _
do
301
424
617
382
338
610
358
421
399
510
277
149
Prices, composite, chestnut:
Retail
dol. per short ton-20.60
20. 59
20.01
19.44
19.65
19.75
19.80
20.49
20.08
20.36
20.49
20.51
20.51
Wholesale
do
16. 029
16. 029
15. 695
15. 565
15. 615
15. 759
15.814
16. 165
16. 102
16. 185
16.190
16. 190
16. 190
Bituminous:
Production
thous. of short tons_.
33, 762
46, 315
47, 425
47, 795
35, 476
37,615
27, 071
19, 783
10, 307
44, 623
36, 028
31,277
11, 808
Indus trial consumption and retail deliveries, total
thous. of short tons._
44, 337
42, 270
37, 494
34, 764
29, 884
32, 608
33, 591
36, 537
28, 068
34, 948
43, 036 r 41, 855
34, 308
34, 553
33, 703
Industrial consumption, total
_ _ _ do
31, 363
29, 718
25, 842
26, 891
28, 005
21, 569
27, 292
26, 343
31,436 * 30, 719
25, 444
Beehive coke ovens
do
695
825
983
995
44
417
79
52
16
47
112
41
152
8,305
Byproduct coke ovens _
_ _
- do
7,835
8,513
8,253
7,523
7,008
7,384
7,161
2,466
5. 033
7,960
' 7,
696
5,699
r
Cement mills
do
640
666
670
649
633
629
641
675
625
654
725
659
579
Electric-power utilities
_ _
do
7,347
6,330
6,142
7,167
6,338
6,168
6,732
6,341
6,279
6,416
7,206
6,397
7,306
Railways (class I)
do
6,565
6,121
5,892
6,628
4,974
5,274
5,133
4,709
4,584
5,080
5,665
4,119
5,320
r
Steel and rolling mills..
do
621
812
849
714
559
505
551
521
192
527
722
712
649
7,263
Other industrial
do
9,638
8,301
9,918
6,514
6,147
7,485
7,882
7,378
8,566
9,046
7,960
8,874
Retail deliveries
do
9.784
6.131
5.046
5.717 1
4.042
5. 586
8.567
9. 245
6.499
R fi05
11 13fi
8 RfU
11 finn
' Revised.
*> Preliminary.
cfThe number of companies reporting beginning the second quarter of 1949 is as follows: Direct current, 28; polyphase induction, 32 in the second and third quarters, and 33 in the
fourth quarter.
*New series. Compiled by the Industrial Furnace Manufacturers Association, representing orders (less cancellations) for metallu
llurgical and other purposes as reported by 24 to 28 companies.
Currently, the combined data for electric and fuel-fired furnaces account for about 80 percent of the industry total. New orders3 ffor January 1949 amounted to $1,047,000. Data prior to 1949
will be shown later.
SURVEY OF CURRENT BUSINESS
April 1950
S-35
1950
1949
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
February
March
May
April
July
June
August
September
October
November
December
January
February
PETROLEUM, COAL, AND PRODUCTS—Continued
COA L— Con ti nued
Bituminous— Continued
Consumption on vessels (bunker fuel)
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
Electric-power utilities
do
Railways (class I)
do . .
Steel and rolling mills
do
Other industrial
do_.
Retail dealers
do
Exports
do
Prices, composite:
Retail
dol per short ton
Wholesale:
Minerun__
__
do
Prepared sizes
do
COKE
Production:
Beehive
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
Exports
do
Price, beehive, Connellsville (furnace)
dol. per short ton__
46
49
99
118
114
87
85
78
54
71
39
68, 834
66, 927
13, 759
1,103
24, 120
9,861
1,121
60, 511
59,048
11, 452
72, 755
70, 273
15, 870
1, 433
25, 444
9,701
1,360
16, 465
2,482
4,827
74, 161
71, 351
15,747
1,614
25, 607
9,818
1,376
17, 189
2,810
4,349
69, 119
66, 399
13, 896
1, 469
25, 062
8,669
1,214
16, 089
2,720
1,923
68, 621
65, 776
13, 604
1 454
25, 458
8, 196
1 152
15,912
2,845
2,267
62, 064
59, 990
11, 903
1,422
24, 142
6,680
1,029
14, 814
2,074
1,806
47, 165
45, 755
9,946
1,018
19, 706
4,170
45, 804
44, 359
10,060
1 001
18, 508
4,094
45, 111
43, 721
9,893
1 063
17, 794
3,849
16, 963
1,907
2,021
22, 127
8,908
1,023
14, 554
1,463
2,016
65, 164
63, 066
12, 914
1,105
23, 499
9,296
1,160
15, 092
2,098
3,752
16.04
16.04
15.84
15.51
15.52
15.53
15 54
15.69
8.832
9.303
8.778
9.237
8.570
9.029
8.539
8.921
8.518
8.929
8.531
8.945
8.515
8 964
8.580
9.060
984
639
534
5,475
5,958
5,761
5,798
5, 242
4,911
253
276
261
323
282
302
1,504
1,122
1,313
1,474
1,015
1,748
1,182
1,705
1,077
458
198
34
566
227
53
629
228
79
634
444
270
25
1
1
916
907
9,999
1,410
912
282
9,789
1, 445
1 101
10, 210
1,390
1 415
15.89
16 10
16 32
14
12
r 37, 119
24, 534
24, 069
3,400
r
36, 038
7,r 087
877
15,066
3,010
' 748
9,250
1,081
r
453
6,540
465
557
16 47
16.50
8. 640 ' 1* 8. 667 ' i 8. 711 r i 8. 767
9. 358
9. 463
i 9. 732
i 9. 574
i 8. 770
i 9. 743
29
8
34
4,952
80
5,138
1,727
3,471
304
5,538
267
293
280
264
291
1,906
1,077
2,027
1,054
1,926
2,120
1,227
1,714
1,281
973
250
38
973
952
236
43
2,017
1,200
830
241
63
893
217
59
817
160
30
991
723
140
36
807
474
149
29
47
528
11,055
2,093
r
'104
5, 358
382
158
32
952
361
174
42
14.500
14. 500
14. 450
14. 250
13. 812
13. 250
13. 250
13. 250
13. 250
13. 250
13. 250
13. 250
1,414
150, 519
1,816
161, 955
1,753
150, 354
1,805
154, 146
2,133
147, 098
1,803
145, 818
1 847
148, 192
1,984
148, 206
1,806
152, 590
85
1,877
155, 754
85
84
1,980
156, 285
87
84
1,826
154, 908
90
161, 053
160, 358
162, 485
162, 812
86
84
165, 919
154, 861
86
153, 440
154,223
85
88
166, 568
158, 782
169, 723
169, 987
265, 216
66, 317
182, 423
16, 476
269, 341
66, 203
187, 034
16, 104
272, 520
68, 331
188, 152
16, 037
273, 912
66, 799
190, 868
16, 245
274, 691
64, 040
194, 685
15, 966
267, 586
62, 793
188, 383
16, 410
260, 585
60, 760
183, 849
15, 976
251, 689
58, 244
177, 571
15, 874
250, 809
58, 653
175, 984
16, 172
256, 010
59, 835
180, 086
16, 089
253, 356
60 405
177, 049
15,902
246, 610
61, 195
169, 217
16, 198
26
3,956
655
448
207
13. 250
PETROLEUM AND PRODUCTS
Crude petroleum:
Wells completed
number
Production
thous. of bbl
Refinery operations
percent of capacity
Consumption (runs to stills)
thous. of bbl
Stocks, end of month :d*
Gasoline-bearing in U. S., total __ . do
At refineries
do
At tank farms and in pipe lines
do
On leases
do
86
2,872
3,655
3,071
1,942
1,866
2,866
3,403
2,619
3,010
2,130
2,916
2,722
Exports
do
12, 522
12, 013
12, 550
13, 699
12, 706
12, 788
11, 964
16, 537
11, 275
14, 998
11, 647
13, 983
Imports
- _.
- _ do
2.510
2.510
2.510
2.510
2.510
2.510
2.510
Price (Kansas-Oklahoma) at wells ._ dol. per bbl__
2.510
2.510
2.510
2.510
2.510
2.510
Befined petroleum products:
Fuel oil:
Production:
23, 134
28, 914
25, 368
25, 199
25, 870
28, 115
27, 972
30, 047
28, 871
32, 489
Distillate fuel oil
thous of bbl
31, 024
32, 000
34, 417
38, 996
35, 277
31, 218
32, 250
35, 904
33, 414
33, 299
35, 411
37, 491
35, 361
Residual fuel oil
do
37, 283
Domestic demand:
22, 149
16, 504
34, 899
32, 490
17, 575
22, 858
22, 478
23, 141
30, 772
18,790
44, 759
43, 406
Distillate fuel oil
do
44, 344
38, 085
35, 378
34, 877
35, 682
42, 911
39, 639
51, 334
38, 281
45, 535
41, 130
Residual fuel oil
. do
51, 362
Consumption by type of consumer:
4, 615
3,916
4,148
4,987
5,478
Electric-power plants
do
4,651
5,432
7,316
6,656
7,462
5,810
7,938
7 F04
4,366
4,513
4,075
4,184
4,906
4,577
4,377
4,329
Railways (class I)
do
4,687
4,755
4,333
4,035
5,353
5,063
4,604
5,366
5,345
4,665
Vessels (bunker oil)
., .
do
4,837
4,765
4,198
4,238
4,368
4 160
4 282
Stocks, end of month:
48, 923
64, 730
83, 213
88, 212
51, 231
58, 381
71,553
Distillate fuel o i l
_ _ _ _ _ _ _ _
do
76, 037
2 63, 932
53, 937
90, 643
75, 207
67, 117
59, 668
63,576
64, 628
66,084
59, 398
66, 843
65, 112
58, 190
Residual fuel oil
do
68, 673
55 808
60 193
Exports:
769
666
1,344
711
453
Distillate fuel oil
do
1,121
627
1,108
656
430
649
750
514
599
852
514
1,019
730
562
751
809
608
Residual fuel oil
.
do
817
843
Price, wholesale, fuel oil (Pennsylvania)
.103
.108
dol. per gal._
.084
.098
.088
.088
.083
.088
.088
.088
.088
.090
.088
Kerosene:
7,175
6,974
Production
__
thous. of bbl
8,093
8,974
7, 361
6,715
8,789
9,273
8,166
9,339
10, 755
11,140
6,315
6,799
6,605
Domestic demand
do
11, 454
9,913
4,577
4,531
5,676
10, 593
8,269
14 978
13 906
Stocks, end of month
do _
25, 490
17, 801
21, 546
24,826
26, 650
25, 267
19, 052
18, 953
27, 609
23, 648
20, 888
18, 260
111
93
79
r 118
181
45
Exports _
_ _ .
_
do
489
118
97
258
43
68
Price, wholesale, bulk lots (New York Harr
r
r
r
r
r
r
r
r
r
r
.084
.084
.091
.084
.084
.103
.088
bor) f
dol per gal
.086
f 088
.098
090
090
093
Lubricants:
3,554
Production. __
_
_ _
thous. of bbl
3,510
3,729
3,606
3,984
3,932
3,698
3,804
3,638
4,100
3,457
4,116
2,752
3, 111
2,623
3,026
2,982
3,023
2,699
Domestic demand
do
2,195
2 647
2,426
2,927
2 846
8,962
8,734
9,922
9,731
Stocks, refinery, end of month
do
10, 931
10, 089
10,856
9,109
9,219
10, 588
8,894
9,323
1,115
1,031
998
870
886
1,138
1,301
754
898
Exports
_
do
976
1,291
940
Price, wholesale, cylinder, refinery (Pennsyl.200
.150
.222
.148
.190
.150
vania)
dol. per gal__
.140
.168
.140
.140
.140
.140
.140
' Revised.
1 Because of substitutions in the reporting companies, data beginning October 1949 are not strictly comparable with earlier figures. September 1949figuresstrictly comparable with October:
Mine
run, $8.618; prepared sizes, $9.300.
2
New basis. Beginning January 1950, coverage was increased to include one East Coast terminal not previously reporting; comparable December 1949 figure, 75,435,000 barrels.
^Includes stocks of heavy crude in California.
fRevised series. Prices for kerosene (N. Y. Harbor, No. 1 fuel, bulk lots, f. o. b. refineries or terminals, excluding all fees and taxes) have been substituted for those for water white (Pennsylvania) formerly shown; comparable January 1950 figure on the new basis. $0.103. Data beginning 1935 will be available later.
SURVEY OF CURREJN1 15USJLNESS
S-36
Apr il 1950
19 50
1949
Unless otherwise stated, statistics tlirougli
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
F
ary U "
March
April
'
May
July
June
August
February
October
November
December
January
80, 310
83, 185
79, 733
83, 515
82, 043
71, 046
13, 270
73, 626
13, 965
70, 369
14, 265
74, 286
14, 711
72, 556
15, 084
4,006
7,470
80, 760
4,406
8,301
79, 253
4,901
7,449
76, 270
5,482
7,325
' 75, 553
5,597
7,279
66, 876
94, 445
53, 727
7,354
7,607
2,271
96, 194
55, 117
7,093
6,923
2,476
97, 173
54, 200
7,534
7,141
1,809
r 103, 586
62, 116
7,857
6,831
1,611
116, 624
73, 880
8,674
7, 363
1,201
.100
.196
.203
.100
.196
.203
.098
.195
.201
.098
.192
.201
.097
.192
.200
3,718
2,805
6,171
2,817
3,955
2,844
6,606
3,117
3,848
2, 529
6,822
2,902
4, 086
2,957
7,444
3,338
3,044
1,806
7,940
3,341
952, 200
830, 000
902, 500
798, 400
684, 700
790, 400
535, 100
530, 200
894, 200 1, 027, 800
72 800
125, 160
99 680
130, 200
71, 960
126, 000
92, 400
132, 440
87, 920
133, 840
5,968
6,101
5,177
3,021
3, 538
1,418
1 437
3,113
1,516
1,502
3,084
1,269
1,254
2, 655
751
936
821
1,550
1, 768
1,655
53, 911
59, 277
58, 198
41, 228
41, 485
35, 218
r
1,718
1 726
r 4 879
' 1, 753
1 884
r 4 753
1,662
1 768
4 675
606, 410
573, 516
397, 307
' 5S8. 946
' 589, 046
' 394, 077
556, 717
571, 282
371, 031
1, 077
117, 099
404, 018
162. 468
56 889
42, 232
168 344
73 261
r
1 181
139, 514
465 558
173 759
59 534
45 120
r 1Q5 152
r 74 566
422 223
160 359
56 890
42, 179
154 439
71 989
September
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products — Continued
Motor fuel:
All types:
82, 953
82, 232
82, 162
79, 383
71,357
79, 025
77, 157
Production total
thous of bbl
Gasoline and naphtha from crude petro72, 905
73, 069
70, 603
73, 740
69, 984
68, 432
63, 224
leum
thous. of bbl..
11,964
12, 479
13, 054
12, 346
12, 476
12, 783
12, 081
Natural gasoline and allied products. __ do
Saks of 1. p. g. for fuel, etc., and transfers
3,219
3,891
3, 621
3,184
3,266
3,948
3,742
of cycle products
thous. of bbl
7,241
6.314
7,269
7, 319
6.399
7,296
6, 577
Used at refineries
do .
84, 632
81, 622
57, 934
75, 279
83, 338
82, 118
73, 118
Domestic demand
do
Stocks, gasoline, end of month:
113,164
103, 867
97, 724
117,496
118, 822
117,020
106, 068
Finished gasoline, total
do
73,212
74, 706
65, 988
60,871
58. 740
55, 281
70,817
At refineries
do
8,621
8,438
7, 155
8,558
8,331
7,973
7,350
Unfinished gasoline
do
7,418
7,031
7,391
7,028
7, 405
7, 253
7,668
Natural gasoline and allied products do
3,374
3,364
3,668
3,205
1,913
3,277
3, 406
Exports
thous. of bbl
Prices, gasoline:
Wholesale, refinery (Oklahoma)
.099
.099
.099
.100
.100
.100
.100
dol. per gal__
.191
.191
.196
.196
.196
.196
.196
Wholesale, tank wagon (N. Y.)
do
.204
.204
.204
.204
.204
.201
.201
Retail, service stations, 50 cities .
do___
Aviation gasoline:
3,676
3,805
3,975
3,951
3,614
4, 132
4,036
Production, total
thous. of bbl
2,746
3.125
2,954
3,078
3,106
3, 039
2,735
100-octane and above
do
6,852
6. 841
6,179
7,401
7,056
7, 357
6,584
Stocks, total
do
3, 500
3.088
3, 144
2,782
3,430
3,123
3,156
100-octane and above
do _
Asphalt:
526, 700
798, 900
455, 800
899, 100
651, 100
934, 000 1, 018, 700
Production
short tons
1,351,500 1, 445, 800 1, 510, 000 1,500,000 1,354,000 1,247,100 1, 044, 700
Stocks, refinery, end of month. _
_ do
Wax:
76, 720
69, 160
72 n20
73, 080
61,600
64, 120
Production
thous. of Ib
66, 640
134, 6SO
138, 600
136, 640
140.560
148, 680
148, 400
139. 720
Stocks, refinery, end of month
do
Asphalt products, shipments:
3,695
4,650
4, 196
3, 108
4,596
4, 273
5, 482
Asphalt roofing, total
thous. of squares..
Roll roofing and cap sheet:
936
1,189
991
1,023
977
Smooth-surfaced
_ do
988
1, 267
843
865
976
897
1, 034
Mineral-surfaced
do
990
1 309
1, 807
2,484
1, 330
2,308
2, 584
2,906
Shingles, all types
_ _ do
2,296
207
184
180
166
190
181
225
Asphalt sidings
do
32, 256
45, 341
38. 012
27, 403
43, 153
42, 232
Saturated felts
short tons _
53, 387
272
257
289
834
720
189
170
:.:
.096
.192
.199
3,255
779
169
PULP, PAPER, AND PRINTING
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
thous. of cords (128 cu. f t . ) _ _
Ooii^umption
do
Stocks end of month
do
Waste paper:
Receipts
short tons..
Consumption
-do
Stocks, end of month
do
1 , 628
1, 739
5. 465
1,226
i, 572
5, 112
4,876
498. 892
513, 396
545, 024
545, 882
481, 050
500, 123
52o, 914
439, 983
492, 256
511. 138
418, 706
1,057
120, 949
946
112, 324
344, 744
156, 712
56. 963
39. 405
165 322
32, 376
5 575
488,811
WOOD PULP
Production:
976
Total, all grades
thous. of short tons
Bleached sulphate
short tons._ 109, 373
366, 048
Unbleached sulphate. do
150, 924
Bleached sulphite
do
6!, 418
Unbleached sulphite
do
39, 692
Soda
_
_do .
r 157 759
Groundwood
do
57, 802
Defibrated exploded etc
do
Stocks, own pulp at pulp mills, end of month:
Total, all grades
short tons__ 123, 569
15, 584
Bleached sulphate
do
17. 580
Unbleached sulphate
do
27. 809
Bleached sulphite
do
20. 486
Unbleached sulphite
do
3,008
Soda
__ __ __ _
__ _
do
30, 311
Groundwood
do
Exports, all grades, total
Imports, all grades, total. _
Bleached sulphate
Unbleached sulphate
Bleached sulphite
Unbleached sulphite
Soda
Groundwood __
do
..do
do
do _
do
do
do
.do
1,311
1,537
i,r,i9
1 , 044
5, 128
r 141, 833
32, 127
24, 024
r
36, 543
r
32, 019
2 4fl7
13, 979
381,575
164, 235
67,140
43, 891
180 197
52, 375
951
1,451
1,502
4 877
1,388
1,330
4 918
1,778
1 670
5 015
1,683
1,684
4 995
1,841
1 869
4 964
1,772
1 841
4 875
491,700
427, 149
512, 582
397, 963
419,348
552, 539
586, 250
367, 874
588, 734
591, 334
367, 980
655, 365
639, 735
379, 549
615, 578
625, 182
368, 121
920
806
104, 061
307, 177
1,019
119, 599
408, 055
149, 967
57, 505
40, 654
157 057
35 463
1,030
112, 819
400, 941
149, 496
54, 219
38. 844
155 658
52 441
1,146
128, 507
445, 225
165, 553
63. 043
42, 506
167 395
76 925
1, 136
128, 443
436, 025
139, 658
121,395
114, 948
12, 047
8 445
33 351
19, 808
3, 364
27, 492
114, 018
12. 896
8 355
32 412
19, 436
116,830
112,129
343, 235
155, 353
58, 988
38. 061
166 006
32, 282
347, 366
135, 302
56, 309
33, 256
160 917
33, 592
158, 496
17. 650
12, 043
39, 823
28. 831
5, 116
43, 840
139, 626
12, 819
17, 982
34, 653
22, 477
3, 388
38, 616
151, 920
12, 866
17, 003
40, 803
23, 634
44, 171
161, 188
14, 459
13. 224
45, 443
26. 711
3, 631
46, 778
11, 321
126, 685
27, 690
13, 459
39, 872
28, 764
2 352
13, 784
10, 923
97, 517
24, 393
11 522
25, 193
19. 155
2 197
14, 461
17, 750
' 142. 328
' 38, 235
16, 844
37, 528
24. 941
2 100
21, 939
1,712
895
,m
826
1,543
807
1,556
801
735
81
695
49
683
54
699
56
3,463
405, 228
117,955
39, 249
32, 128
142 101
28, 475
145, 522
17, 593
10, 190
37, 288
23,173
4,488
40, 584
18,237
9 (=34
38 045
21, 515
15, 442
9 650
33 351
4,668
17,917
3,883
36, 024
30, 863
6,266
21, 154
6 068
129, 611 * 113,685 »• 135, 228
36, 635
' 26, 562
37,
409
r
14. 309
16,331
13, 549
33, 686
35, 027
'35,311
27, 020
' 21,927 ' 30, 51)8
1 095
2 351
1 907
r
15, 629
11,443
15 548
4,989
35, 491
26, 187
o 357
18' 193
4 510
174, 922
41, 739
18 433
46, 125
42. 436
2 774
21 346
118, 632
28, 009
7,848
r
r
r
r
169,313
59
43,
165
76
601
341
969
907
98, 480
2,992
r
3 937
244 755
40 845
r
54 014
' 66. 644
r
56, 624
2 763
r 23 169
9,709
8 770
29 644
15, 259
1,771
33 984
29, 490
51
109 010
7 331
95 621
15, 104
2,099
27, 634
r
9,240
5 628
212, 092
33, 063
40 359
59, 233
51,987
9 8Q5
24 034
1 088
131,112
108 484
10, 470
8 206
26 896
17, 233
1 456
34 044
4 344
234, 188
31, 744
64 496
50, 423
63, 260
2 566
2l' 089
PAPER AND PAPER PRODUCTS
All paper and paperboard mills:
Paper and paperboard production, total
thous. of short tons__
Paper (incl. building paper)
do
Paperboard
do
Building board
__.
do
r
Revised.
' 1, 600
r
828
r
699
74
1,348
717
1,749
862
1,793
881
1,953
%0
1,920
943
1,807
899
579
53
823
64
828
85
896
98
884
92
823
85
r
1,881
r 936
1,799
902
859
'86
810
87
SURVEY OF CURRENT BUSINESS
April 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-37
1950
1949
February
March
May
April
July
June
August
September
October
November
December
January
February
PULP, PAPER, AND PRINTING—Continued
PAPER AND PAPER PRODUCTS— Continued
Paper, excl. building paper, newsprint, and paperboard (American Paper and Pulp Association) :
Orders, new
short tons..
Orders, unfilled, end of month
do
Production
do
Shipments
do
Stocks, end of month
__
do._
Fine paper:
Orders, new
___ _
do__
Orders, unfilled, end of month
do
Production
do
Shipments
. _. _ _
do__
Stocks, end of month
_ do
Printing paper:
Orders new
do
Orders, unfilled, end of month
do
Production
do
Shipments
do
Stocks, end of month
do
Price, wholesale, book paper, "B" grade, English finish, white, f. o. b. milL.dol. per 100 lb_ .
Coarse paper:
Orders, new
_
_ __
short tons
Orders, unfilled, end of month
_do
Production
__
do
Shipments
do
Stocks, end of month
do
Newsprint:
Canada (incl. Newfoundland):^
Production
do
Shipments from mills _ _ _ _ _ _ _
do_
Stocks, at mills, end of month...
do
United States:
Consumption by publishers
do
Production
_
do
Shipments from mills
_ ___do_
Stocks, end of month:
At mills
do
A t publishers..
_
_____
do
In transit to publishers
do
Imports
do
Price, rolls (New York)
dol. per short ton__
Paperboard (National Paperboard Association):
Orders, new
short tons
Orders, unfilled, end of month
do
Production, total
do
Percent of activity...
_
__
Paper products:
Shipping containers, corrugated and solid fiber,
shipments
mil sq. ft surface area
Folding paper boxes, value:
New orders
1936=100__
Shipments
_
do
642, 518
386, 050
676, 795
662, 81 1
310, 025
720, 153
378, 230
732, 694
720, 680
322, 835
634, 122
347, 140
664, 594
664, 179
323, 662
629, 197
342, 763
639, 482
634, 219
328, 690
80, 488
39, 215
81,447
78, 992
84, 560
87, 002
41, 905
87, 484
84, 280
87, 713
86,811
42, 762
83, 706
85, 520
85, 997
80, 045
38, 443
84, 822
84, 286
86, 545
220, 543
181,745
231, 686
228, 984
99, 015
252, 634
174,710
255, 393
252, 500
100, 585
230, 668
163, 885
240, 199
240, 900
100, 225
241, 155
167, 170
238, 088
238, 600
98, 480
637, 622
343, 370
631,906
626, 312
334, 556
84, 135
37, 168
85, 363
85, 563
86, 336 j
229, 847
159, 569
225, 219
230, 058
93, 925
593, 334
368, 430
560, 472
568, 772
327, 093
719, 898
407, 215
684, 243
679, 984
330, 664
764, 640
463, 553
699, 796
706, 642
324, 990
803, 535
497, 820
765,612
768, 592
321, 449
754, 993
496, 770
762, 099
755, 367
328, 285
71, 205
41, 740
66, 603
66, 483
86, 583
87, 529
41,355
87, 847
87, 887
85, 969
87, 252
40, 500
86, 983
87, 870
85, 805
100,173
45, 270
93, 235
96, 342
82, 864
91,985
43, 270
93, 248
92, 987
83, 125
217, 290
173, 400
202, 468
204, 108
93, 000
261, 590
190, 945
248, 153
243, 043
98, 000
268, 975
206, 538
251,456
251,878
98, 000
274, 594
215, 785
266, 393
263, 717
100, 500
260, 080
218, 400
265, 313
257, 785
108, 140
11.30
11.30
11.30
11.30
11.30
11.30
11.30
11.30
11.30
11.30
218,319
97, 225
239, 403
232, 200
76, 000
243, 650
94, 250
252, 040
246, 627
81,400
195, 006
74, 100
217, 475
215,150
83, 700
193, 672
72, 425
201, 355
195, 343
89, 700
208, 616
81, 068
206, 055
196, 506
99, 250
198, 513
87, 200
187, 236
192, 380
94, 100
248, 105
108, 500
225, 676
226, 795
92, 980
280, 775
146, 500
236, 977
242, 747
87, 210
288, 365
166, 300
267, 024
268, 577
85, 650
269, 096
165, 040
268, 903
270, 358
84, 195
' 406, 927 >• 455, 778
' 385, 372 r 419, 549
-•141,512 r 177, 741
r 442, 448 ' 442, 730 ' 437, 043
' 428, 999 r 459, 129 r 447, 961
' 191,190 r 174, 791 r 163, 873
r
r
r
421, 475 r 446, 834
412, 127 rr 435, 007
173, 221 185, 048
r
729, 665 »• 788, 763
486, 860 r 509, 600
739, 789 «• 778, 408
T
739, 566 r 765, 803
'328,508 >• 338, 885
r
r
' 95, 678
»• 41, 525
r 93, 163
r
93, 450
' 84, 420
' 86, 355
^ 39, 300
r 91, 908
r 90, 322
' 84, 710
r
252, 560
209, 880
r 263, 049
'"261,078
••110,115
r
737, 000
516, 865
726, 000
730, 500
334, 150
90, 000
48, 500
84, 500
83, 000
85, 500
r
284, 300 258, 000
' 232, 335 235, 000
250, 000
r 267, 636
256, 000
r 261, 698
' 116, 775 111,000
11.30
11.30
260, 710
r
166, 595
r
254, 841
r
259, 153
r 79, 883
r 267, 235
r 163, 950
»• 275, 840
r 269, 880
T
85, 840
257, 000
162, 000
259, 000
259. 000
85, 800
rr 415, 179 ' 435, 651 r436, 766 r 414, 872
437, 658 ^ 433, 039 «• 460, 977 r 434, 652
' 162, 569 r 165, 181 ' 140, 970 r 121,190
417,011
403, 013
135, 188
399, 247
376, 834
157, 601
11.30
r
308, 753
68, 621
69, 235
366, 887
78, 322
77, 404
368, 945
75, 459
73, 930
392, 212
79, 987
80, 162
349, 944
80, 417
78, 460
313,118
76,218
77, 133
318,046
78. 944
76, 941
356, 528
70, 600
69, 614
399, 262
73, 350
75, 013
378, 626
72, 130
72, 417
372, 497
69, 854
72, 255
345, 093
74, 275
76, 080
350, 906
69, 099
70, 756
8,862
391, 580
92, 609
360, 047
100.00
9,780
392, 601
82, 380
392, 317
100. 00
11, 309
381, 865
79, 724
362, 996
100.00
11, 134
373, 041
71, 404
414, 526
100.00
13, 091
384, 872
75, 863
397, 741
100.00
12, 176
416, 595
76, 848
377, 409
100. 00
14, 179
446, 964
86, 044
404, 129
100. 00
15,165
444, 335
85, 333
356, 129
100. 00
13, 502
412, 805
75, 708
399, 910
100. 00
13, 215
378, 578
87, 677
386, 639
100. 00
10, 814
371, 131
74, 732
418, 496
100. 00
9,009
355, 599
86, 039
376,819
100. 00
7, 352
328, 881
88,593
656, 300
267, 700
694, 300
727, 300
272, 000
731, 800
688, 000
260, 300
696, 700
686, 700
238, 700
692, 300
692, 000
243, 300
696, 800
618, 100
268, 500
583, 800
890, 200
365, 600
821, 600
873, 000
360, 900
833, 800
945, 000
400, 600
888. 500
887, 000
429, 800
882, 800
* 860, 300
337, 800
858, 800
802, 800
314, 600
817, 000
94
93
801, 200
359, 300
827, 400
88
92
85
84
79
78
75
64
86
r
87
83
100. 00
4, 346
4,893
4,646
4,555
4,773
4,324
5, 681
5,668
6,171
5,665
5,178
5,260
5,147
390.2
414.4
430.7
480.2
397.2
424.8
390.3
408.0
407.5
436.2
360.5
335.4
447.6
452.4
513.9
472.0
482.0
506. 6
453.9
493.5
411.7
448.3
437.6
447.5
433.9
428.9
714
550
164
748
586
162
1,074
945
755
190
760
570
190
863
669
194
704
554
150
763
597
166
1,129
1,019
944
185
758
261
1,498
1,114
384
673
524
149
829
619
210
43, 978
100, 618
45, 620
51, 243
90, 733
47, 285
52, 093
99, 208
67, 152
52, 919
106 619
67, 934
r 59, 992
r 108 769
58, 251
56, 630
104 296
PRINTING
Book publication, total
New books
New editions
number of editions. _
_ _ do_ __
do_ __
822
252
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
.
.long tons__
Stocks, end of month
do
Imports, including latex and guayule
do
Price, wholesale, smoked sheets (New York)
dol. per lb._
Chemical (synthetic):
Production
long tons
Consumption
do_ .
Stocks, end of month
do__
Exports
do
Reclaimed rubber:
Production. _ _
_. do
Consumption
..
...
do
Stocks, end of month
do
46, 285
118, 803
57, 176
53, 108
117, 664
56, 679
47, 859
112,916
50, 623
46, 128
111,875
53, 434
47, 117
103, 626
51, 217
40, 597
103,017
46, 187
45, 307
99, 850
49, 579
.185
.191
.185
.178
.163
.164
.167
.176
.163
.167
.177
.184
.195
36,103
34, 889
1 18, 932
342
36, 063
39, 041
116, 843
975
35, 445
36, 529
114,944
509
32, 335
35, 528
112, 739
622
31,953
37,211
106, 813
587
34, 270
30, 094
113, 595
691
33, 885
34, 419
111, 333
384
30, 878
32, 443
110, 848
425
28, 015
33, 687
103, 955
425
28, 619
31, 684
101, 430
478
27 234
31, 771
98, 042
674
27 808
'33
966
r
92, 284
580
29 336
31 , 699
88, 375
18, 270
17, 712
32, 738
19, 991
19, 508
33, 397
18, 463
18, 649
32, 825
18, 184
18, 323
32, 326
18, 849
19, 316
30, 684
14, 626
15, 966
29, 126
17, 813
19, 297
27, 526
18, 304
18,517
26, 257
20, 683
19, 638
26 619
19,382
18 512
27 801
19 723
18 210
28 263
r 19 447
r 27 319
r 20 106
20,415
19 824
27 173
5,891
4,866
2, 172
2,589
6, 578
5, 903
2,519
3,229
6,959
6,611
2,771
3,718
6,934
6,824
2,380
4,323
7,392
7,535
3,234
4,185
6,264
7,694
3 098
4,488
6,228
7,768
3 191
4 463
5,604
6,746
3 056
3 576
6,500
6,840
2 942
3 740
6,040
5,267
1 746
3 422
6,275
5,234
2 158
2 944
6,827
5, 913
3 094
o 703
6, 691
6, 216
3 247
2 870
13, 091
13, 191
13, 301
13,134
11 717
9 970
8 936
8 675
9 542
10 651
TIRES AND TUBES
Pneumatic casings:
Production
Shipments, total
Original equipment
Replacement equipment
Export
_.
Stocks, end of month
Exports
Inner tubes:
Production
Shipments
Stocks, end of month
Exports
__
r
thousands-do
do
do
do
do
do
_
do
do
do
do
105
12, 385
161
4,922
4,406
10, 442
142
155
142
5,948
5,174
11,231
113
121
171
6,059
5,396
11, 748
110
121
169
6,088
5,296
12, 410
127
116
130
6,430
6,409
12, 466
89
108
120
5,230
6 300
11,364
80
115
134
5, 169
6 603
9 858
72
114
123
4,902
5 843
8 916
81
158
151
5 296
5 557
8 644
105
99
109
5 155
4 216
9 645
53
131
120
5 339
4 2'?2
10 713
60
r
r
116
11 797
5 629
5 312
10 926
5 803
5 610
11 059
124
49
Revised.
cfData for 1949 have been revised to include figures for Newfoundland. Data for January 1949 are as follows (short tons): Production, 420,624; shipments, 409,862; stocks, 119,957.
100
11 360
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
April 1950
1950
1949
February
March
April
May
June
July
August
September
October
November
December
January
February
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
Coated abrasive paper and cloth, shipments.reams..
131, 393
143, 753
132, 813
120, 863
123, 343
111, 262
132, 950
144, 716
148, 461
126, 936
124, 653
145, 157
144, 609
13, 751
73
9,134
22, 206
6,752
15, 439
74
14, 539
23, 104
7,764
17, 682
85
17, 779
22. 977
7,560
18, 622
86
19, 426
22, 170
7,440
18, 279
87
20, 667
19, 785
6,922
18, 856
87
19, 321
19,313
6,212
18, 715
87
23, 633
14, 381
5,798
19, 181
92
22, 763
10, 797
4,461
19, 070
88
21, 278
8,569
3,610
18, 040
86
17, 269
9,341
3,356
16, 936
78
11, 606
14, 686
4,597
15, 174
13 070
70
67
9, 593
20, 267
r
6, 066
9,775
23, 562
7,311
345, 696
289, 331
399, 729
380, 361
420, 477
407, 003
459, 671
433, 772
488, 860
464, 536
449, 182
444, 523
506, 890
507, 886
492, 123
500 344
511, 501
526 164
491,254
499, 371
454, 704
400, 418
377, 675
345 485
PORTLAND CEMENT
Production
Percent of capacity _
Shipments
Stocks, finished, end of month.
Stocks, clinker, end of month
thous. of bbl
__ _
thous. of bbl _
_do __
_do _.
CLAY PRODUCTS
Brick, unglazed:
Production
_ thous. of standard brick. _
Shipments
-. -do
Price, wholesale, common, composite, f. o. b. plant
dol. per thous __
Clay sewer pipe, vitrified:
Production
_ short tons
Shipments.
_ _ __
do _.
Structural tile, unglazed:
Production
do
Shipments
_
__do
24. 060
24. 050
24. 021
24. 002
24. 000
23. 964
24. 045
24. 043
24. 010
24. 075
24. 053
114,311
80, 815
124, 781
112, 870
125, 128
112, 584
126, 612
117, 523
125,012
121,010
105, 703
111,298
126, 139
132, 431
123, 021
129, 811
122, 020
136, 580
126, 101
120, 750
119, 196
93, 183
108. 580
92, 740
101,059
89, 899
117, 742
105, 978
114, 878
100, 093
112, 150
112, 997
111,533
111,846
120, 780
105, 648
121,209
118, 388
109 675
115, 559
111 161
107, 601
107 355
101,739
100 676
84, 221
97 456
79, 119
6,501
6,029
7,288
6,929
7,035
6,869
7,663
7,811
8,036
7,928
8,108
7, 746
8,662
8,933
7 550
7,981
8,283
7,737
7 375
6,963
r 6, 321
r
24. 032
24.096
GLASS PRODUCTS
Glass containers:
Production
thous. of gross
Shipments, domestic, total
_.
do
General-use food:
Narrow-neck food
_
__do
Wide-mouth food (incl. packers' tumblers)
thous. of gross. _
Beverage (returnable and nonreturnable)
thous. of gross. _
Beer bottles
do
Liquor and wine
_ _ ..do
Medicinal and toilet
do
Chemical, household and industrial. _ _ d o
Dairy products
_
do
Fruit jars and jelly glasses
_
do.
Stocks end of month
_do
Other glassware, machine-made:
Tumblers:
Production
thous. of dozens
Shipments
-do
Stocks
_ --do
Table, kitchen, and householdware, shipments
thous. of dozens. _
589
645
649
715
701
748
1,108
1,164
760
1,667
1,822
1,763
2,020
2,084
2,022
2,528
1,965
i 2, 157
218
327
799
1,605
540
244
39
9,713
396
464
1,035
1,678
563
262
64
9,801
538
480
841
1,612
587
251
148
9,763
. 816
567
840
1,666
628
227
333
9,374
1,025
646
837
1,584
553
242
255
9,270
911
538
874
1,526
561
253
311
9,425
486
443
942
1,992
728
346
359
8,906
206
317
1,121
1 975
687
341
205
8 318
164
298
1,359
2 024
652
308
1
15
8 602
176
304
1,227
1 887
611
255
(i)
8 735
4,707
4, 450
8,693
4,796
5,038
8,474
4,621
4,905
8,270
5,242
5,055
8,615
4,608
4,993
8,154
4, 148
4,197
7,689
4 907
5, 157
7,715
4 770
4*734
7,618
5 521
5 436
7,676
3,084
3,645
3,264
3,672
3,368
2,528
3,323
3,349
3,801
1
6,963
632
'521
1, 871
r 1 1, 694
228
333
' 975
1 823
444
304
(i)
T
7, 952
7, 379
r
r
1
7 350
6,701
668
640
1 1, 958
2, 291
231
325
826
2 127
1 806
669
256
1
669
253
290
263
r
775
9 145
14
r 9 352
1
19
9 694
4 940
4 961
7 615
4 853
3 756
8 584
6 125
4 981
9 825
5 578
5 552
9 820
3,647
2,617
2,644
3,179
13, 042
12 950
24 690
r
GYPSUM AND PRODUCTS
Crude gypsum:
Imports
thous of short tons
Production _
do
Calcined, production
do
Gypsum products sold or used":
Uncalcined
short tons
Calcined:
For building uses:
Base-coat plasters
do
Keene's cement
do
All other building plasters
do
Lath
thous of sq ft
Tile
do
Wallboardc?
do
Industrial plasters
short tons
357
1,466
1,382
511
1,590
1,313
991
1,615
1,418
734
1,783
1 552
508, 200
485, 097
473, 462
500, 893
397, 763
10, 263
108, 453
512, 015
6,052
629, 052
443, 069
11, 734
108, 400
393, 725
6,991
574, 797
514, 531
12 659
118, 814
538, 427
9 341
610, 334
464, 022
10 902
122 092
568 066
8 134
712 581
57, 575
57, 052
54, 958
57 Oil
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production
thous. of dozen pairs. _ 'r 11, 384
11,570
Shipments
do
25, 234
Stocks, end of month
do. ...
12, 009
12, 808
24, 386
11,158
11,714
23, 820
11,024
10, 898
23, 938
11, 786
11, 205
25, 800
9,693
9,450
26, 044
12, 354
12, 809
25, 589
12, 997
13, 883
24, 703
13, 564
14, 526
23, 741
13, 905
14 434
23 212
12, 653
11 635
24, 230
12, 868
12 408
24, 598
9,544
13 976
' 14 716
15 641
COTTON
Cotton (exclusive of linters) :
Production:
2
Ginnings§
thous of running bales14, 580
298
1,247
5,309
Crop estimate, equivalent 500-lb. bales
2
14, 868
thous. of bales. _
640, 179
721, 378
600, 651
454, 426
598, 502
580, 476
664, 133
709, 958
Consumption
. . balesStocks in the United States, end of month, total
9,019
7,877
5,283
6,836
5,781
19, 257
thous. of bales. . r 10, 334
18, 472
8,925
r 10, 235
7,786
5,214
6, 753
5,705
19, 199
Domestic cotton, total
do
18, 408
r 1, 154
775
559
251
On farms and in transit
do
480
319
14, 622
11, 590
5,842
Public storage and compresses
_ do. .
7,532
6,657
5,057
4,388
3,942
4,128
6,120
1,492
1,385
1,216
998
834
Consuming establishments
do
1,.548
635
698
95
91
Foreign cotton, total
.-do.__
99
83
76
69
58
64
f Revised.
i Data for wide-mouth
food containers include jelly glasses in October, January, and February and both jelly glasses and
3
2 Total ginnings of 1918 crop.
Total ginnings of 1949 crop.
concludes laminated board, reported as component board.
§Total ginnings to end of month indicated.
s 15 901
3
725, 602
771, 833
17, 348
17 273
7,852
8,344
1,077
75
fruit jars in
734, 013
734, 186
16, 657
14, 040
15, 369
16 592
15 304
13 974
3 036
4,685
2 315
9,951
10, 664
10, 501
1,604
1,708
1,405
65
65
66
November and December.
16 125
739, 438
12, 812
12 733
1 757
9 204
1,771
7»
SUEVEY OF CUERENT BUSINESS
April 1950
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
S-39
1950
1949
February
March
May
April
June
July
August
September
October
November
December
January
February
TEXTILE PRODUCTS—Continued
COTTON— Continued
Cotton (exclusive of linters) — Continued
Fxports
_. bales._
Im ports
do
Prices received by farmers
dol.
perlb-Prices, wholesale, middling, 1 Me // , average, 10
markets
dol. per Ib
Cotton linters:
Consumption
thous of bales
Production
do
Stocks, end of month
do
497, 079
8,533
.291
581,686
7,595
.287
590, 178
4,497
.299
463, 978
3,014
.300
508, 246
4,057
.301
221,287
11,218
.301
167, 616
5,324
.293
211,372
65, 889
.297
415, 088
13, 789
.287
433, 596
12, 419
.278
656, 897
12, 896
.265
528, 316
10, 982
.265
.275
.326
.326
.330
.329
.328
.321
.310
.300
.296
.298
.303
.310
.320
119
159
r
664
134
144
682
120
99
660
126
80
588
122
58
503
103
44
456
136
63
385
141
182
411
143
227
468
132
235
531
131
203
568
132
193
576
128
158
580
2,257
93, 525
2,411
79, 372
1,188
74, 317
1,616
2,004
81,115
649
65, 886
822
60, 051
1,057
1 943
66, 384
1,198
60, 383
2,167
52, 811
2,310
2,315
55, 918
2,290
36, 503
2, 845
31.35
.317
.146
.170
29.94
.303
.138
.170
28.76
.303
.131
.168
27.75
.303
.126
.163
28.18
.303
.128
.161
30. 61
.303
.144
.160
34.70
.303
.163
.165
36.08
.303
.166
.167
38.17
.303
.170
.169
38.05
.303
.170
.170
37.90
.303
.166
.172
37.48
.303
.160
.174
.629
.827
.612
.789
.604
.776
.598
.764
.600
.764
.610
.772
.620
.799
.639
.823
.647
.823
.647
.823
.647
.823
.632
.823
21, 515
20, 425
9,352
393
8,922
106.8
20, 864
19, 801
7,776
327
7,442
97.9
20, 936
19, 862
7,737
325
7,358
93.8
20, 568
19, 464
7,975
337
7,506
95.8
20, 137
19,012
5,988
255
5,637
79.6
20, 941
19, 747
8,827
377
8, 267
102.5
21, 180
19, 975
9,287
396
8,725
115.2
21, 450
20, 215
9,540
409
8,978
123.3
21, 557
20, 314
10, 021
429
9,442
124.8
21, 476
20, 241
9,781
419
9,206
124.7
21, 463
20, 217
9, 663
496
9,091
133.0
21, 663
20, 417
9, 765
496
9,181
133.4
63.5
14.7
57.9
7.8
47.9
6.2
52.1
7.8
56.8
10.9
58.8
13.7
69.2
19.4
74.8
22.7
74.9
25.2
75.7
24.3
79.7
23.9
78.1
24.1
71.5
22 4
20.3
9.7
1,827
32.9
16.2
1,433
44.1
19.1
718
49.8
20.4
297
49.7
18.9
106
48.6
16.8
32
41.9
12.8
468
31.1
7.8
257
24.7
4.5
767
18.9
3.5
2,952
14.3
2.9
4,317
14.8
3.3
4,016
13 ?
35
.770
.370
.770
.370
.770
.370
.746
.362
.710
.350
.710
.350
.710
.350
.710
.350
.710
.350
.710
.350
.710
.350
.710
.350
710
.350
COTTON MANUFACTURES
Cotton cloth:
Cotton broad-woven goods over 12 inches in width,
production quarterly
mil of linear yards
88, 172
Exports
thous. of sq yd
1,765
Imports
do
Prices, wholesale:
32.30
Mill margins
-- -cents per Ib
.338
Denims, 28-inch
dol. per yd-_
.152
Print cloth 38^-inch, 64 x 60
do
.170
Sheeting, unbleached, 36-inch, 56 x 60
do
Cotton yarn, Southern, prices, wholesale, mill:
.642
22/1, carded, white, cones
dol. perlb_.862
40/1 twisted carded, skeins
do
Spindle activity (cotton system spindles):
21, 950
Active spindles, last working day, total. __thous__
' 20, 756
Consuming 100 percent cotton
do
8,425
Spindle hours operated, all fibers, totaL.mil. of hr_ _
355
Average per spindle in place
_ .-hours. _
7,966
Consuming 100 percent cotton
mil. of hr_.
112. 3
Operations as percent of capacity
RAYON AND MANUFACTURES AND SILK
Rayon yarn and staple fiber:
Consumption:
Filament yarn
mil. of lb_.
Staple
fiber
do
Stocks, producers', end of month:
Filament yarn
do
Staple
fiber
do
Imports
thous. of Ib
Prices, wholesale:
Yarn, viscose, 150 denier, first quality, minimum
filament
dol. per Ib
Staple fiber, viscose, ll/i denier_
_ do
Rayon broad-woven goods, production, quarterly
thous. of linear yards
Silk, raw:
Imports
thous of Ib
Price, wholesale, Japan, white, 13/15 (N. Y.)
dol. per l b _ _
WOOL
Consumption (scoured basis) :§
Apparel class
thous. of Ib
Carpet class
__
.
do
Imports
do
Prices, wholesale, Boston:
Raw, territory, 64s, 70s, 80s, scoured._dol. perlb__
Raw, bright fleece, 56s, greasy
do _ . _
Australian, 64s, 70s, good topmaking, scoured, in
bond
dol. perlb..
9
435, 699
512, 663
452, 096
529, 163
1,215
423
12
48
460
90
27
25
164
133
370
539
2.60
2.60
2.60
2.60
2.60
2.60
2.60
2.60
2.60
2.65
2.68
2.72
27, 688
15, 676
39, 745
29, 110
18, 575
31, 292
20, 152
12, 840
24, 511
21,576
12, 264
22, 118
28, 785
11,415
29, 878
22, 636
6,520
23, 082
29, 244
10, 588
38, 046
36, 160
13, 350
39, 252
33, 512
13, 032
46, 456
29, 044
13, 288
46, 158
1.800
.560
1.800
.560
1.800
.560
1.781
.556
1.725
.545
1.600
.545
1.525
.545
1.525
.545
1.525
.545
1.525
.545
1.562
.552
1. 588
.559
1.625
570
1.925
1.925
1.862
i 1. 675
1 1. 675
1 1. 675
1 1. 675
1 1. 675
1 1. 675
1.375
1.375
1.465
1.575
67
1,620
25
83
1,960
30
79
1,926
26
90
2,283
36
83
2,267
30
69
2,186
r
25
77
2,161
28
70
41
124
65
125
65
141
68
138
69
141
72
154
78
r
35, 680
' 17, 370
57, 517
2.71
31, 268
15, 672
77, 890
WOOL MANUFACTURES
Machinery activity (weekly average) :§
Looms:
Woolen and worsted:
79
80
73
80
75
Pile and Jacquard __thous. of active hours
1,746
1,669
1,543
1,987
Broad
__
do
1,626
28
25
27
24
Narrow
do
26
Carpet and rug:
143
120
172
171
158
Broad.. _
do
74
Narrow
_ do
75
60
88
82
Spinning spindles:
75, 641
68, 201
78, 006
67, 404
76, 257
Woolen
do
63, 969
69, 738
59, 803
80, 209
73,006
Worsted
.
do
123
115
156
142
110
Worsted combs
do
Wool yarn:
49, 356
Production, total§
thous. of Ib
45, 936
52, 208
59, 435
60, 495
4,996
6,650
Knitting§
do
5,232
6,485
5, 056
31, 256
Weaving§
do
41,120
31,176
34, 360
27, 056
13, 104
Carpet and other §
do
12, 725
13, 824
15, 800
18, 590
Price, wholesale, worsted yarn (Bradford
3.375
weaving system) 2/32s
dol. per lb__
3.425
3.375
3.395
3.425
r
]
Revised.
Nominal price.
§Data for March, June, September, and December 1949"are for 5 weeks; other months, 4 weeks.
72, 030
62, 884
122
88, 831
81,906
145
82, 778
90, 413
151
42, 884
4 916
31, 124
6 844
56, 096
6,544
38, 416
11, 136
68, 895
8 630
46, 235
14 030
3.375
3.375
3.244
91,983
110, 119
176
r
T
62 352
7 624
41, 228
13 500
2.850
r
85, 798
97, 635
166
r
r
57, 292
6 672
36, 692
13 928
66, 600
r 7 550
41, 895
r 17 155
r
2.912
76, 653
95, 066
' 172
r
r
2.975
76, 202
92, 637
185
56
6
34
r 15
448
508
216
724
2.975
2.975
SURVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey
April 1950
1949
February
March
April
June
May
1950
July
August
September
November
October
Decem- January
ber
February
TEXTILE PRODUCTS—Continued
WOOL MANUFACTURES— Continued
Woolen and worsted woven goods, except woven
felts:
Production quarterly, total
thous. of lin. vd
Government orders
do
Other thin Government orders total do
Men's and boys'
do
Women's and children's
do
Unclassified
do
Blanketing
do
Other nonapparel fabrics
do
Prices, wholesale, f. o. b. mill:
Suiting, unfinished worsted, 13 oz__dol. per yd__
Women's dress goods, flannel, 8 oz, 54-inch
dol. per yd_,
102, 250
87, 556
4, 953
82, 603
34, 420
40. 634
7, 549
91, 921
75, 937
3, 218
72 719
33 227
30, 341
9, 148
5, 704
10, 280
9, 139
106, 945
90 250
3 613
86 637
34, 507
' 44 277
7, 853
6, 330
10 365
117, 367
102 393
3 7^4
98 659
4? 6609
48 24
7, 757
6,507
r g 457
3. 589
3.589
3 589
3.589
3.589
3.459
3.069
3. 069
3.069
3.069
3.069
3, 069
3.069
2.722
2.722
2.722
2. 722
2.722
2. 475
2.475
2.475
2.475
2.475
2.475
2. 475
2.475
2,471
1,532
1,487
1,981
1,769
167
39
225
474, 826
133
128
385 025
377 185
89 668
80 939
MISCELLANEOUS
Fur sales by dealers
thous. of dol__
TRANSPORTATION EQUIPMENT
AIRCRAFT
Civil aircraft shipments c?
Exports
number
do.
-
257
161
400
196
456
223
474
!78
439
189
301
156
272
188
284
i 43
228
170
158
i 61
116
i 29
426, 665
418
326
324, 547
310, 343
101, 700
88, 540
518, 118
545
423
402, 402
385, 834
115,171
99, 925
543, 118
514
494
436, 392
422, 149
106, 212
91, 808
481, 467
564
511
394, 703
3SO, 489
86, 200
75, 518
593, 640
632
522
493, 882
480, 009
99, 126
89, 174
579, 048
439
399
483, 261
471,752
95, 348
85, 427
657, 664
444
420
557, 370
544, 630
99. 850
89, 989
626,180
298
274
534, 493
521, 524
91 389
82 487
572, 917
322
275
487 891
476, 461
84 704
76 584
455, 008
308
279
381 951
373, 838
72 749
66 090
358, 471
369
353
291 358
284 097
66 744
60 784
581. 695
219
194
487 854
475 495
93 6^2
84 354
27,166
12, 676
14,490
2,296
2, 181
1, 095
1,086
115
31,717
15, 673
16, 044
2, 634
2,510
1,254
1,256
124
30, 004
14, 598
15, 406
2, 760
2,568
1.231
1, 337
192
25, 094
12, 420
12,674
2,752
2,631
1,426
1,205
121
22, 648
12,028
10 620
2,817
2,686
1,575
1, 111
131
24, 397 i 20, 234
13, 035
10, 853
11, 362 1 9, 381
2,197
2, 601
2,109
2,504
1,314
1,482
795
1,022
88
97
i 21 389
12,326
i 9 063
1
20 063
11, 197
8 866
i 17 105
9 145
i 7 960
i 19 545
6* 957
i 5 5§g
i 14 760
s'5°4
i ^ 236
258, 218
67, 537
360, 584
87, 165
390, 932
78, 857
446,251
86, 375
432, 470
79, 069
448, 477
76, 866
478, 556
85 539
459, 647
89 253
465, 765
86 398
409, 702
79 699
414, 579
78 805
10, 800
7,906
7,421
2,894
80
75
66
5
12, 626
9,674
8,958
2,952
76
74
69
2
11, 184
8,896
8,499
2,288
85
85
85
0
9,532
6,886
6,879
2,646
95
95
77
0
9,148
5,832
5,805
3 316
98
98
94
0
6,645
3, 866
3,655
2,779
68
68
66
0
7,184
4, 251
4,245
2 933
70
70
65
6 201
3,996
3 936
2 205
93
93
87
4 537
2,833
2 828
1 704
90
90
84
4 456
2,729
2 649
1 727
85
85
76
3 432
2, 052
1 950
1 380
80
80
75
o
2 051
922
917
1 129
64
64
64
Q
2 395
1, 006
1 006
1 3S9
61
61
61
0
1,761
1,763
1,767
1,770
1,771
1,769
1, 767
1,766
1,765
1,763
1,750
1,745
1,742
91
5 4
73, 384
46, 403
26, 981
94
5 5
63, 410
38, 654
24, 756
98
5 7
53, 975
30, 850
23, 125
109
6 4
45, 057
23 816
21, 241
113
6 6
36, 331
19 368
16, 963
126
7 4
31,746
16 474
15, 272
125
7 3
26, 599
13 473
13 126
124
7 3
20, 609
9 419
11 190
132
7 7
16, 183
6 442
9' 741
130
7 7
12,661
4 122
8 539
134
8 0
12, 861
2 447
10 414
141
84
17, 766
4 550
13 216
139
8 3
25, 647
8 455
17' 192
2,504
7.8
2, 650
8.3
2,602
8.3
2,737
8.8
2, 665
8. 7
2, 833
9.3
2,949
98
2,992
10 0
3,189
10 8
3,297
11 3
3,204
3, 454
12 2
3,498
11 1
43
33
10
1,452
1,452
38
17
21
1, 134
1,134
30
10
20
1 043
1,043
29
10
19
1 098
1,098
25
7
18
984
984
17
2
15
816
816
15
1
14
954
954
13
o
12
12
13
885
885
12
i i ^o
1 130
113
43
70
90
7
83
123
69
54
73
17
56
23
6
17
873
873
0
65
12
53
21
5
16
775
775
50
8
42
35
26
9
1,287
1,287
0
* 50
10
r
40
80
4
76
62
25
37
65
5
60
107
31
76
109
48
54
270
255
15
247
214
33
199
142
57
208
179
29
205
175
30
168
133
35
202
183
19
185
168
17
254
235
19
227
232
186
46
199
i oq
19
07
1
MOTOR VEHICLES
Factory sales, total
Coaches total
Domestic
Domestic
Trucks total
Domestic
-- --
Exports total
Passenger cars
-Trucks
Truck trailers, production, total
Complete trailers
Vans
_
All other
__
Chassis shipped as such
Registrations:
New passenger cars
New commercial cars
number--do
do
--
--
- - do
--- -do
do
do
do
do
do
do .-.
do -.
do ..
do
-
do
_-do
1
1
1
2
379, 902
- 64 879
RAILWAY EQUIPMENT
American Railway Car Institute:
Shipments:
Freight cars, total
numberEquipment manufacturers, total
do
Domestic _
_ ___ _
- do_ Railroad shops, domestic
do
Passenger cars, total
_ _ _ _ _ _ _ .do .
Equipment manufacturers, total _
do
Domestic
do
Railroad shops, domestic
do
Association of American Railroads:
Freight cars (class I), end of month:§
Number owned
thousands. _
Undergoing or awaiting classified repairs
thousands- .
Percent of total on line
Orders, unfilled
number. Equipment manufacturers
do
Railroad shops _ _ _
_ _ _ . do
Locomotives (class I), end of month:
Steam, undergoing or awaiting classified repairs
number-Percent of total on line. _
Orders, unfilled:
Steam locomotives, total
number-Equipment manufacturers
do
Railroad shops . _ . _
__do _
Other locomotives, total
_ _.
do
Equipment manufacturers
do _ _
Railroad shops
do
Exports of locomotives, total
do
Steam
_ _
_ _-do Other- _
___ __ _ _
do
o
o
o
o
o
o
o
o
o
o
o
n
o
12 5
Q
12
1 099
l' 099
INDUSTRIAL ELECTRIC TRUCKS AND
TRACTORS
Shipments, total _
Domestic
Export
-.numberdo
do
30
i on
T
Revised.
i Excludes "special category" exports not shown separately in the interest of national security. 2 Excludes data for Arkansas.
(^Publication of data for military shipments and the total, formerly shown here, has been discontinc ed by the Civil Aeronautics Administration.
§Not including railroad-owned private refrigerator cars.
0. S . G O V E R N M E N T P R I N T I N G O F F I C E : 1950
-I A 0
"INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40Pages marked S
38
Abrasive paper and cloth (coated) _ _ .__
24
Acids
Advertising
Agricultural income and marketings !IIIII"I
2
15
Agricultural wages, loans
22
Airline operations
Aircraft
11,12,14,40
Alcohol, denatured and ethyl, _.
24
Alcoholic beverages
2, 27
Aluminum
33
Animal fats, greases
25
Anthracite
2,5,10,12,14,15,34
Apparel, wearing
5,7,8,9,11,12,14,15,38
Armed forces
10
Asphalt and asphalt products
36
Automobiles
2,3, 7, 8, 9,11,12,14,18, 21
Balance of payments
20
Banking
,__ 15,16
Barley
28
Barrels and drums
32
Battery shipments
34
Beef and vea!
29
Beverages, alcoholic
2,27
Bituminous coal
_
2,5,10,12,14,15,34,35
Boilers
33,34
Bonds, issues, prices, sales, yields
19
Book publication
37
Brass _ _
_
__
_ _ _ _ _ _
33
Brick
5,38
Brokers' loans
16,19
Building contracts awarded
6
Building costs
6,7
Building construction (see Construction).
Building materials, prices, retail trade_ _ ,
5,7,8,9
Business, orders, sales, inventories
3
Businesses operating and business turn-over...
4
Butter
27
Candy
.
29
Cans, metal
33
Capital
flotations
18,19
Carloadings
22,23
Cattle and calves
29
Cement
2,5,38
Cereal and bakery products, price
—
5
Chain-store sales
9
Cheese
27
Chemicals
2,3,5,11,12,14,15,18,21,24
Cigars and cigarettes
30
Civil-service employees
12
Clay products (see also Stone, clay, etc.)
2,38
Clothing
5,8,9,11,12,14,15,38
Coal
2,5,11,12,14,15,34,35
Cocoa
29
Coffee
22,29
Coke
2,35
Commercial and industrial failures
4
Construction:
Contracts awarded
6
Costs
6,7
Dwelling units started
6
Employment, wage rates, earnings, hours. _
10,
11,12,13,14,15
Highway
6,12
New construction, dollar value
6
Consumer credit
16
Consumer expenditures
1,8
Consumers' price index
_
__
5
Copper
21,33
Copra and coconut oil
25
Cora
19,28
Cost-of-living index (see Consumers' price
index)
5
Cotton, raw, and manufactures
2,
4,5,11,12,13,14,21,38,39
Cottonseed, cake and meal, oil
25
Crops
2,4,25,28,30
Currency in circulation
18
Dairy products
Debits, bank
Debt, short-term, consumer
Debt, United States Government
Department stores
Deposits, bank
Disputes, industrial
Distilled spirits
Dividend payments and rates
Drug store sales
Dwelling units started
2,4,5, 27
15
16
17
8,9,10,16
15,16,18
13
27
1,18, 20
8,9
6
Earnings, weekly and hourly
13,14,15
Eggs and poultry
2,4, 29
Electrical equipment
3,4, 7,34
Electric power, production, sales, revenues
26
Employment estimates.10,11,12
Employment indexes
11
Employment security operations
13
Emigration and immigration
23
Engineering construction
6
Expenditures, United States Government
16
Explosives
24
Exports (see also individual commodities)
21
Express operations
22
Factory, employment, pay rolls, hours, wages, _
10,
11,12,13,14,15
Failures, industrial and commercial
4
Farm income and marketings
2
Farm wages
15
Farm products, and farm prices.
2,4
Fats and oils
5,25,26
Federal Government,
finance
16,17
Federal Reserve banks, condition of
15,16
Federal Reserve reporting member banks
15,16
Fertilizers
5,24
Fiber products
34
Pages marked S
Fire losses
_
7
Fish oils and fish
25,29
Flaxseed
__
25
Flooring,
31,32
Flour, wheat
28
Food products
.
2,3,
4,5,7,8,9,11,12,13,14,27,28,29,30
Footwear. _ _
2,5,8,9,11,12,14,31
Foreclosures, real estate
7
Foreign trade, indexes, shipping weight, value
by regions, countries, economic classes, and
commodity groups
21,22
Foundry equipment
34
Freight cars (equipment)
40
Freight carloadings, cars, indexes
22,23
Freight-car surplus and shortage
23
Fruits and vegetables
2,4, 5, 21, 27
Fuel equipment and heating apparatus
33,34
Fuel oil
35
Fuels
2,5,35
Fur
22,40
Furnaces
34
Furniture
2,5,7,8,9,11,12,13,14
Gas, customers, sales, revenues
26
Gasoline
36
Glass and glassware (see also Stone, clay, etc.). 2,38
Generators and motors
34
Glycerin
24
Gold
_
18
Grains
.
4,19,21,28
Gross national product
1
Gypsum
38
Heating and ventilating equipment..
Hides and skins
Highways
Hogs
Home-loan banks, loans outstanding
Home mortgages
Hosiery
Hotels
Hours of work per week
Housefurnishings
Housing. _ .
.
33.34
5,22.30
6.7
29
7
7
5,38
11,13,15,23
12.13
5, 7,8,9
5,6
Immigration and emigration
23
Imports (see also individual commodities)
21,22
Income, personal
1
Income-tax receipts
16
Incorporations, business, new
4
Industrial production indexes
2,3
Instalment loans
16
Instalment sales, department stores
9
Insulating materials
34
Insurance, life
17,18
Interest and money rates
16
International transactions of the U. S
20, 21, 22
Inventories, manufacturers' and trade
3,9,10
Iron and steel, crude and manufactures
2,3,
4,5,11,12,13,14,21,32,33
Kerosene
35
10
Labor force
Labor disputes, turn-over.
13
Lamb and mutton
29
Lard
___
29
Lead.
33
Leather and products
2,3,5,11,12,14,30.31
Linseed oil,
25
Livestock
2,4,29
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)
7,15,17,19
Locomotives
40
Looms, woolen, activity
39
Lubricants
35
Lumber
2,5,11,12,14,31,32
Machine activity, cotton, wool
39
Machine tools ...
34
Machinery
2,3,4,11,12,14,18,21,34
Magazine advertising
7
Mail-order houses, sales
10
Manufacturers' sales, inventories, orders
3,4
Manufacturing production indexes
2,3
Meats and meat packing
2,4,5,11,12,13,14,29
Metals
2,3,4,5,10,11,12,13,14,18,32,33
Methanol
_ _ _ _ _
_
_
24
Milk
27
Minerals
2,3,12,14,15
Money supply
18
Mortgage loans
7,15
Motor fuel
36
Motor vehicles
8,40
Motors, electrical
34
National income and product
1
Newspaper advertising
7
Newsprint
22,37
New York Stock Exchange
19, 20
Oats
28
Oil burners
34
Oils and fats
5,25,26
Oleomargarine
26
Operating businesses and business turn-over, _
4
Orders, new, manufacturers'
4
Paint and paint materials
5, 26
Paper and pulp
2,3,5,11,12,14,36,37
Paper products
36,37
Passports issued
23
Pay rolls, indexes
12
Personal consumption expenditures
8
Personal income
1
Personal savings and disposable income
1
Petroleum and products
2,3,
5,10,11,12,14,15, 21, 22,34,35,36
Pig iron
32
Pages marked S
Plant and equipment expenditures
1
Plastics and resin materials, synthetic
26
Plywood
31
Population
.
10
Pork
29
Postal business _
8
Postal savings
16
Poultry and eggs
2,4,5,29
Prices (see also individual commodities):
Consumers' price index
5
Received and paid by farmers
„
4
Retail price indexes
5
Wholesale price indexes
5
Printing
2,3,11,12,15,37
Profits, corporation
18
Public utilities... 1,5,10,11,13,14,15,17,18,19, 20
Pullman Company
23
Pulpwood
36
Pumps
34
Purchasing power of the dollar
5
Radio advertising
7
Railways, operations, equipment, financial statistics, employment, wages
1,
11,12,13,14,15,17,18,19,20,22,23,40
Railways, street. (See Street railways, etc.)
Rayon, and rayon manufactures
2,5,39
Real estate
7
Receipts, United States Government
16
Reconstruction Finance Corporation, loans
17
Refrigerators
34
Rents (housing), index
5
Retail trade, all retail stores, chain stores, department stores, mail order, rural sales, general merchandise
.
3,4,8,9,10
Rice
28
Roofing and siding, asphalt
36
Rosin and turpentine
24
Rubber, natural, synthetic, and reclaimed,
tires and tubes
22,37
Rubber industry, production index, sales, inventories, employment, pay rolls, hours,
earnings
2,3,11,12, 14,15
Rye
28
Savings deposits
16
Savings, personal
1
Securities issued
18,19
Service industries, employment
11
Sewer pipe, clay
38
Sheep and lambs
29
Shipbuilding
11,13,14
Shoes
2,5,8,9,11,12,14,31
Shortenings
26
Silk, imports, prices
5,22,39
Silver
18
Skins__""_II
I..I 5,22,30
Slaughtering and meat packing
2,
11,12,13,14,29
Soybeans, and soybean oil
25
Spindle activity, cotton, wool
39
Steel ingots and steel manufactures (see also
Iron and steel)
32,33
Steel, scrap
32
Stocks, department stores (see also Manufacturers' inventories)
10
Stocks, dividends, issues, prices, sales, yields. _
20
Stokers, mechanical
34
Stone, clay, and glass products
._
2,
11,12,13,14,38
Stoves
34
Street railways and buses
13,14,15,22
Sugar
22,30
Sulfur
24
Sulfuric acid
.
24
Superphosphate
24
Tea
30
Telephone, telegraph, cable, and radio-telegraph carriers
10,13,14,15,23
Textiles
2,3,5,11,12,13,14,21,38,39,40
Tile__
38
Tin
22,33
Tires and inner tubes
5,11,12.14,15,37
Tobacco
2,3,4,7,11,12,13,14,30
Tools, machine
34
Trade, retail and wholesale.. 3,4,8,9,10,11,13,14,15
Transit lines, local
15,22
Transportation, commodity and passenger
22, 23
Transportation equipment
2,3,4,11,12,13,14,40
Travel
23
Truck trailers
40
Trucks
40
Turpentine and rosin.
24
Unemployment and unemployment compensation
10,13
United States Government bonds
17,18,19
United States Government,
finance
16,17
Utilities
1,5,10,11,13,14,15,17,18,19, 20
Vacuum cleaners
34
Variety stores
8,9
Vegetable oils
25,26
Vegetables and fruits
2,5,21,27
Vessels cleared in forei gn trade
23
Veterans' unemployment allowances
13
Wages, factory and miscellaneous
Washers
_
Water heaters
Wax
Wheat and wheat
flour
Wholesale price indexes
Wholesale trade
Wood pulp
Wool and wool manufactures
Zinc_
13,14,15
34
34
36
19,28
5
10
36
2,5,22,39,40
33
Price 55 cents
Available from the
Superintendent of Documents,
Government Printing Office,
Washington 25, D. G., or
the nearest Department of
Commerce Field Office.
ZJhe balance of international f-^ayment* of the Iqnitea ^5tate6, 1946-48
The position of the United States in the world economy since the cessation of hostilities is here revealed
within the framework of the balance of international payments. As the official economic record of our
international transactions this basic volume points up the problems which arose from unsettled conditions
in international economic relations and the attempts made during that period to find a solution for them.
Here is the comprehensive record of what the United
States has contributed to and received from other countries
during three crucial years of the postwar era. Coverage includes current account transactions . . . the exchange of
goods and services . . . merchandise trade . . . transportation . . . foreign travel . . . Government and private
services . . . income on investments . . . private and
Government aid . . . private loans and investments . . .
liquidation of foreign capital and gold . . . international
investment position of the United States . . . the transactions broken down by major foreign areas.
Illustrated with charts and containing summary statistical
tables, this publication is a valuable source of information
for all who wish to know of the size and scope of United
States international aid and related programs designed for
the improvement of world economic conditions.
As part of the continuing series of publications on the
international transactions of the United States this bulletin
together with International Transactions of the United States
During the War, 1940-45 (price 60 cents) and The United
States in the World Economy (reprint price 55 cents)
presents the historical record of United States participation
in world trade since the First World War.
UNITED STATES DEPARTMENT OF COMMERCE • OFFICE OF BUSINESS ECONOMICS
@FedFRASER