Full text of Survey of Current Business : August 1942
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SURVEY OF
AUGUST 1942
UNITED STATES DEPARTMENT OF COMMERCE
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
SURVEY OF
CURRENT BUSINESS
AUGUST 1942
ECONOMIC HIGH LIGHTS
2
THE BUSINESS SITUATION
3
Industrial Conversion
3
Tin
6
Construction
7
Fats and Oils
8
NATIONAL INCOME AND THE WAR EFFORT—FIRST HALF
OF 1942
THE LUMBER INDUSTRY UNDER WARTIME CONDITIONS
10
18
STATISTICAL DATA:
Estimated Sales of all Retail Stores by Kinds of Business—Table 15
24
Department Store Sales, Richmond Federal Reserve District—Table 16
25
Department Store Sales, San Francisco Federal Reserve District—Table 17
26
Department Store Sales, Philadelphia Federal Reserve District—Table 18
26
Published by the Department of Commerce, JESSE H. JONES, Secretary, and issued through
the Bureau of Foreign and Domestic Commerce, CARROLL L. WILSON, Director
Volume 22
Number 8
Subscription price of the monthly and weekly issues of the SURVEY OF CURRENT BUSINESS, 32 a year. Single-copy price: Monthly, 15 cents; weekly, 5 cent**
Foreign subscriptions, 33.50. Price of the 1940 Supplement is 40 cents. Make remittances only to
Superintendent of Documents, Washington, D. C.
SURVEY OF CURRENT BUSINESS
August 1942
Economic Highlights
Business Inventories at New All-Time High
Business inventories continue to expand . . . in face of need
for minimizing them and War Production Board's efforts to keep
stocks at practicable working minima. Past inventory-output
relationships indicate inventories of manufacturers and wholesalers are far above current needs . .
Sales of Nonautomotive Durable-Goods Stores
Begin Decline
Restrictive effect of war program on civilian goods, already
felt in drastically reduced automobile sales, has now spread to
other durables. Contrary to usual seasonal increases in late
spring, total dollar sales of durable goods stores, other than
MILLIONS OF DOLLARS
800
BILLIONS OF DOLLARS
20
700
600
500
rzra
400
300
2 1936
1937
1938
g«
1939
1940
l94
1941
,^. J / 4
^ \
1 1 !
1 /
I
1 I 1
!
1 I
1940
!
1 1 1 1 1 1 1
1941
!
1 1 1 1
1 1 1 1 1
1942
D.D. 42 -313
Value of Business Inventories.
Sales of Retail Durable-Goods Stores Other than Automotive.
tories $17.2 billions at end of June up $1.5 billion since New
Year's. This rise compares with full-year increase of $3.8 billion
during 1941 when expanding production and fears of shortages
and higher prices produced record accumulations.
Expansion of retail inventories from 1941 year end $6.6 billion
to total of $7.5 billion during the first half of 1942 has almost
equaled the billion dollar increase recorded for the entire year
1941. On the other hand retail sales are beginning to decline.
Imminent contraction of civilian economy is indicated by
recent decline in wholesale inventories to levels of last January
while war demands and commodity shortages limit replacements
from manufacturers
automotive, declined in May to $609 million . . . lower than the
same month of the preceding year for the first time since 1938.
June sales, estimated at $577 million, were also below those of
June 1941. In physical quantity these declines were much
greater since price increases over last year range from 10 to 20
percent for various types of durable goods. Nearly all items
sold by these stores—building materials, hardware, farm implements, household appliances, furniture, and jewelry—have been
subject to priorities and other restrictions. In spite of expanding consumer income, sales outlook is not bright . . . curtailment in residential construction is affecting demand. Present
stocks in many cases cannot be duplicated.
Bank Loans Down, Holdings of U. S. Obligations Up
Opposing movements by two
sets of forces in the current
anti-inflation
str uggle are
shown on the accompanying
chart. Favorable
development is the reduction in loans
(excluding loans for purchasing
or carrying securities, real
estate, and loans to banks) of
Federal Reserve member banks
in 101 cities . . . from March
high of $9.3 billion to $8.4
billion August 5. Important
factor in this decline is scarcity
of automotive and other durable-goods paper due to reduced sales. Less important is
curtailment of personal loans
resulting from anti-inflation
restrictions (Regulation W).
BILLIONS OF DOLLARS
30
....
25
DEMAND DE POSITS, ^ ^
AD JUSTE
20
/
15
°*"*"
«°°°* I
U. S. GOVERNMENT OBLIGATIONS ^
(DIRECT
AND
GUARANTEED)
10
LOANS
(PRIMARILY
BUS
5
NESOAV NEWEST £ N 0
0
1939
Loans, U. S. Government Obligations, and Demand Deposits for Reporting
Member Banks in 101 Cities.
Opposing development is rise
in these commercial banks'
holdings of Government obligations from $14.8 billion on December 3, 1941 to $19.4 billion
on August 5 . . . up $4.6 billion
since Pearl Harbor. Indicates
extent new bank credit has
been utilized as a source of war
funds . . . demand deposits of
these banks up $2 billion over
the same period. Since spring
of 1938, Government obligations held by these banks have
doubled from about $9 billion
to more than $19 billion.
If this trend continues, difficulties of enforcing price ceilings may be correspondingly
increased.
SURVEY OF CURRENT BUSINESS
August 1942
The Business Situation
considerably augmented quantities in 1942 relative to
1939.
Obviously our economy can go on achieving new
peak (as measured by the Federal Reserve adjusted peaks just as long, and no longer, as more labor hours,
index) occurred in May 1937 at the 121 level. This 1937 more machines and more raw materials are available.
peak was unsurpassed until November 1939 when the How close we are to exhausting the available quantities
output of our industries moved into new high ground of these factors of production, no one can say. It is
as a result of the European war. From then until this perfectly clear, however, that our economy has by no
July, in 20 out of the intervening 32 months, new produc- means yet reached its ceiling of output.
tion peaks have been set.
Important in appraising the production outlook for
future
months is the fact that virtually the entire rise
These peaks have a clear interpretation: They are
in
aggregate
industrial production over the past year
achieved, under the guidance of management, by more
has
been
caused
by the rapid rise in the output of
labor hours spent in producing and processing more
durable
goods.
The
output of nondurable goods has
raw materials with the aid of more plant and equipment.
sagged
in
recent
months
and is now appreciably below
Some rough indications of the increases that have
its
peak
of
last
November.
Mineral production meanoccurred in these factors of production are shown in
while
has
moved
almost
horizontally
since a year ago.
the following table:
Hence the volume of durable manufactures now exceeds that of the nondurable by a quite unprecedented
June
margin. In normal times the usual situation is just
1942
Unit
1939
1940
1941
(except
the reverse.
as
NCE again the industrial communique for the
O
month is: Sighted record, smashed same. This has
been going on intermittently for 2){years. The previous
noted)
Table 1.—Composition of the Industrial Production Index
Labor force (estimates U. S. Department of Commerce)
Total nonagricultural employment
excluding
military and naval
forces2 (U. S. Department of
Labor)
Employees in nonagricultural
establishments, excluding military and naval forces .3
Employees in manufacturing
establishments.4
__
Average hours worked per week in
m anufacturing establishments (U.S.
Department of Labor)
Machine-tool shipments,
cumulated
since Jan 1 1940 5
New private producers' plant and
equipment expenditures, cumulated since Jan. 1, 1940 (U. S.
Department of Commerce)
Metallic raw materials (U. S. Department of Commerce)
Million.... 154.8
155.4
156.9
57.8
Million
135.0
136.2
139.4
41.4
Million...- 128.9
130.1
133.2
35.3
Million... .
19.7
i 10. 4
i 12.1
13.1
137.6
138.1
140.5
42.6
443
1,214
1,802
Hours
Mil. dol
Bil. dol
1939 = 100.-
100
11
25
32
129
167
189
12 Monthly average for the year.
Includes self-employed persons, casual workers, and domestic servants.
34 Excludes self-employed persons, casual workers, and domestic servants.
Excludes self-employed persons.
5
Data through November 1941 from the National Machine Tool Builders Association, thereafter from the War Production Board.
In June 1942, as compared to 1939, there were nearly
6.5 million more people employed in nonagricultural
establishments of which almost 3.5 million were added
to the pay rolls of manufacturing establishments. The
workweek in manufacturing is now about one-seventh
longer than in 1939. Since January 1, 1940, manufactures had purchased and, ignoring depreciation, were
in June 1942 using $1.8 billion more machine tools than
in 1939. Producers7 privately financed plant and
equipment had been expanded in the vicinity of 29
billion dollars over the same period; this sum excludes
many billions of Government-financed plant and equipment. Finally the index of 6 raw metals (a very rough
measure because of the weighting problem) showed very
Points in total index
Group
Percent of total
June
1937
June
1940
June
1941
June
1942
June
1937
June
1940
June
1941
Durable goods
Nondurable goods
Minerals _ _ . . . . . _
49
53
17
50
54
18
74
65
20
92
65
20
41.2
44.5
14. 3
41.0
44.2
14.8
46.5
40.9
12.6
52J0
36.7
11.3
Total index
119
122
159
177
100. 0
100.0
100.0
ioo:o
June
1942
Source: Board of Governors of the Federal Reserve System.
Since ships, planes, tanks, and other ordnance items
constitute the big bulk of the war goods scheduled for
future production, it is clear that the durable-goods
industries and especially the metarworking industries
will dominate the industrial scene for the duration.
Plence our industrial output can continue to rise as
long, chiefly, as our supplies of metallic raw materials
maintain their upward trend in quantity.
Industrial Conversion Far From Complete
The term " conversion" is widely used in relation to
the degree in which former peace-goods industries are
now turning out w^ar goods. This is really a summary
term for all the various ways of reshuffling and regrouping productive resources that may be necessary to adapt
the economy to new circumstances. It has assumed
special significance at present because of the urgent
need we are experiencing for withdrawing management,
equipment, labor, and materials from civilian uses and
realigning them directly or indirectly to war purposes.
Because conversion occurs in so many and such different
SURVEY OF CURRENT BUSINESS
forms, it is virtually hopeless to try to measure at all
accurately the degree to which a given industry has
been "converted" from peace to war work. Indeed,
in many cases one might as well try to measure the
conversion of Manhattan Island of colonial days to the
metropolis of today. Following are some of the salient
aspects of conversion that bear on the present outlook.
(1) Conversion of product-use.—This type of conversion (or diversion) involves no significant change in
industrial facilities or work force since the end-product
is merely transferred from civilian to war uses. Instances of end-products so converted are numerous,
such as clothing for soldiers, automobiles for transporting troops, manufactured and canned foods for the
Army and so on. Semimanufactures and parts are
even more frequently shifted from some peacetime item
to a new war product, such as the shift of an internalcombustion engine from a truck to a tank. Another
variant is the diversion of materials, such as steel,
copper, and others, to war uses. Transportation, storage, power, and other industries also come in for
similar conversion of their services to war purposes.
(2) Plant conversion.—This form covers an almost
infinite variety of changes in structures, machinery,
and production methods. In some instances, only the
shell of the factory building, after being completely
reequipped with new machinery, has survived the conversion process. At the other extreme, sometimes only
a new machine or two has been added to enable a plant
to meet the specifications of new war products or of
the materials, parts, and subassemblies of war products.
The proportion of old machinery and equipment that
can be retained and utilized in the converted plant
varies greatly. During conversion, moreover, additions
are sometimes made to plant and equipment which
constitute in effect an expansion of the enterprise.
(3) Changes in technology, degree oj integration, etc.,
during conversion.—In setting up the production lines
for new war products in a converted plant, it is often
possible to adopt radical innovations in technology
which greatly increase output per dollar of investment,
per man-hour or both. Or a plant which formerly
made most of its own parts and subassemblies may,
after conversion, rely upon outside suppliers for most
of these. Such changes in the degree of integration
and in technology may greatly transform the essential
•character of a converted plant.
(4) Increase in plant utilization.—Due to the pressure
of military needs, many converted war plants are being
operated more hours per week than previously was
customary. This means that the peacetime buildings
and machinery which proved adaptable to war output
are often now utilized more continuously so that the
establishment is able to turn out more product per
unit of invested capital.
(5) Conversion of labor force.—Labor conversion is as
August 1942
distinct a feature of this process as any other. New
war plants must assemble and train sizable new work
forces, often in places remote from surpluses of suitable
labor. The establishment to be converted, in contrast,
already has a work force familiar with its equipment
and plant operations, insofar as these can be carried
over into the converted production setup. But it is
often difficult to hold the work force together during
the interim period of inactivity. Plants converted to
war work, moreover, generally require a greater proportion of skilled workers. In order to approach 168hour operation per week, they also have to expand
work forces considerably. Decided changes thus may
occur in the size and character of a plant's work force
as the result of conversion.
It may also be noted that measurement of the number of workers engaged in war work presents obvious
difficulties. Conversion or diversion of the end-product
to war work may be deemed automatically to convert
the workers concerned into war workers. Hence a war
worker may be a machinist working on a gun in an
ordnance plant or a steel worker making the steel that
goes into the gun or an iron miner extracting the ore
that goes into the steel or a merchant sailor on the boat
that transports the iron ore down the Great Lakes.
(6) Management.—Of the various factors of production, management—the "know-how77 factor—is in many
respects perhaps the most subject to real conversion as
contrasted with transformation. The management,
after being converted from its peacetime objective to
new goals of war output, makes changes of the forementioned types which actually result in transforming
the enterprise.
To sum up, conversion may mean anything from no
visible change in an industry, other than a different
user of the same end-product, to a complete reshuffling
of buildings, machinery, technology, plant utilization,
labor, and management, with changes in the quantity,
quality, and importance of each such element in the
contribution it makes to the final product—which may
itself be nearly the same or completely different.
Clearly some of the above types of conversion are
more difficult and time consuming to effect than others.
Hence it is that industry conversion to war work is
still far from complete. In some industries, in fact, it
has been easier to build new plants and get them into
operation than to convert old ones. This explains the
fact that in such industries the output to be expected
from new plants will substantially equal that from
converted plants.
The time needed for building and equipping new
plants or converting old ones has accounted for the
relative lag in arms output until recently. Since many
war plants, both new and converted, are just now
getting into operation, the big push in w^ar output is
just now about to get under way in earnest.
August 1942
SURVEY OF CUREENT BUSINESS
Severest Adjustments Still Ahead.
The rapid acceleration of war output from here on
will entrain the most uprooting adjustments of the
conversion period. Getting the last few million workers needed in the war program will entail far greater
shifts in the location and occupation of those already
in the work force and the recruiting of many more new
workers not hitherto employed. Whereas formerly
there was a large surplus of unemployed to draw on,
that surplus is now close to a minimum and the Army
will induct many thousands of those now actively
employed. Moreover, many war workers came from
curtailed civilian-goods industries. Hence the big
drive is actually still to come to enlist in industry
several million more persons not now included in the
work force. Most of the new workers will of necessity
be women exchanging home work for industrial employment; approximately 4 million more women will
be needed to round out war labor requirements.
Even greater will be the pressure for more materials.
While manufacturers7 inventories will meet a part of
the augmented demand, the volume of raw materials
needed for an arms output more than twice that of the
first half year will necessarily be much larger. Although raw material supplies are in most cases increasing, war needs are increasing still faster. Hence the
material shortages are acute and the allocation of materials to various uses in order of priority has emerged
as the central economic problem of the war period from
here on.
It is this need for conserving materials and obtaining
manpower for the war effort that will accentuate the
rate, scope, and intensity of the economic adjustments
necessary to complete the conversion of our economy
to war. Further use of the conservation or " M " orders
by the War Production Board in controlling theflowof
materials and of the " L " orders limiting output of
designated articles, plus more effective allocation of
materials and the use of priorities, will greatly increase
the pressure on nonessential industries. For most concerns so affected, the chief hope of survival will be
that of converting to some form of war goods output.
The pace and nature of these adjustments will
naturally be strongly influenced by developments on
the various world-wide battle fronts. This is because
the objectives of the war effort must constantly be
adjusted to keep them in a balanced relation to the
progress of the war. Hence the shape of things to come
will be foreshadowed in the war communiques.
Maximum Pressure on Price Ceilings Still to Come.
The rate of growth of income payments has been
slowed from what it would have been otherwise by
curtailment of civilian goods enterprises. At the same
time, consumers are using part of their rising incomes to
pay off debts and to increase their savings. After a
buying spree late last summer and autumn and early
this year, they have been temporarily content with the
stocks of goods they have accumulated with the result
that retail sales have experienced a decided drop.
The real pressure against price ceilings seems destined
to increase beginning in the near future. On the
purchasing power side is the prospect for more rapidly
rising income payments. As the output of war goods
climbs, income payments will reflect the speed-up by
rising for a while at a faster rate. Whatever wage increases may be granted, will reinforce this tendency.
Moreover, by the end of this year, the bulk of consumer
short-term debts will be paid off to the extent, say, of
about 4 billion dollars for the year. Thereafter these
funds will be freed for other uses.
At the present time, consumers are saving at an
unprecedented rate. But many if not most of them are
still comfortably situated with respect to supplies of
the goods that would cause the greatest wrench to
dispense with. Their own stocks are undoubtedly
large and so are those of retailers. This situation will
before long become much less favorable as the output of
many consumer goods shrinks and as stocks of their
own and those in retailers' hands are steadily exhausted.
When the time comes for consumers to get along without
items of food or clothing or other articles that have been
woven into daily long-standing habits of consumption,
then will come the real test. Consumers will at that
time either forego established consumption patterns and
increase the proportion of their incomes to be saved, or
they will sacrifice savings and spend freely in a vain
attempt to maintain their consumption habits in spite
of the disruption of war. In this event, the pressure on
price ceilings will be great. The outcome will hinge
largely on the success of ceiling price enforcement, on
the Government's fiscal policies and its willingness to
employ subsidies, and on the extent to which price
increases are masked by inferior quality.
Table 2.-—Sales of Retail Stores, by Kinds of Business
[Billions of dollars]
Kind of business
All retail stores
New and used car dealers
Household appliances and radios
Heating, plumbing, paint, and electrical..
F a r m implement
Filling stations
Auto accessory dealers
L u m b e r and building materials
Fuel, ice, and fuel oil
Variety
F u r n i t u r e and house furnishings
Miscellaneous (including secondhand).__
Hardware
Department
Drug
Family clothing and women's wear
H a y , grain, feed, and farmer's supplies._.
M e n ' s and boys' clothing
D r y goods and general merchandise
Genera] stores with food
Shoes
Grocery an d combination
Other food stores, n. e. s
Eating places
Jewelry
Drinking places
Source: U. S. Department of Commerce.
1941
! Percentage
1942 est. j
change
53/9
7.5
.7
.4
.6
3.5
.7
2.0
1.2
1.2
1.7
2.0
51.2
5.0
1.9
2.3
1.0
1.0
5.2
2.0
2.5
1.1
1.1
.8
.8
9.4
3.0
2.5
.5
1.8
1.8
.5
,3
.5
2.9
.6
1.8
1.1
1.2
1.7
2.0
.9
.9
11.0
3.5
3.0
.6
2.2
-5
-76
-29
—25
-17
-17
—14
-10
-8
0
0
0
0
+4
+5
+9
+10
+10
+13
+13
+13
+17
+17
+20
+20
+22
6
SURVEY OF CURRENT BUSINESS
As shown in table 2, the sales of most types of consumer durable goods will slump sharply this year as
compared to last. The money consumers would otherwise have spent for such goods will thus be available
either as savings or as surplus purchasing power seeking an exchange. Some of it, of course, will be taken
by the Government in taxes or bond sales.
In view of the decline in sales volume for various
groups of stores in 1942 and of the sharper declines
ahead, it is clear that the problems of conversion face
some retailers even more acutely than manufacturers.
Many of the latter can turn to the making of war goods,
but the retailer whose goods' supply has been cut off
for any reason, cannot replace it by a new line of tanks
and other implements of war for sale to civilians.
August 1942
from detinning old containers, but it is evident that substantial quantities could be recovered if scrap collections were fairly successful. At present there are only
two plants designed for the detinning of old containers.
The conservation program calls for the building of
enough new plants to bring the available tin from this
source to 11,000 tons per year for the account of the
Metals Reserve Company. The bottleneck in the detinning program is in the orderly collection of properly
prepared scrap cans. This can best be effected through
the enactment of municipal ordinances designed to control the saving, preparation, and collection of cans. In
addition, an upward adjustment of the price ceiling
may be necessary to cover the high cost of the detinning
operation.
Recovery of secondary tin in alloys such as solder is
Tin
expected to yield substantial quantities of this mateThe tin outlook is of unusual interest because enemy rial, which although not to be considered as primary
successes in Asia have deprived the United States of its tin, meets consumption needs that would otherwise
principal sources of refined tin (imports from these require new, refined metal.
countries averaged 66,000 tons per year, or 80 percent
Table 3.—United States Net Imports and Consumption
of the total received during the period 1936-40). The
of Refined Tin, October 1940-September 1941
sizable Government stock pile keeps the shortage of
[Long tons]
this metal from being as serious as are those of copper,
and some other materials. Tin deposits in North
1941
1940
America are negligible. In pre-war years we produced
Total
Third
Fourth
First
Second
a negligible amount of refined tin, but now that the
quarter quarter quarter quarter
flow of imports has been reduced to a fraction of its
*
former volume, it has become necessary that we do our Consumption:
13, 200
44,000
Tinplate
8,900
10,000
11,900
5,910
1,360
1,180
1,900
1,470
Babbitt
own smelting. The Government-financed smelter in
4,060
16,
850
4,710
3,400
4,680
Solder
2,200
9,060
2,600
1,890
2,370
Bronze
Texas came into production in April of this year. The
970
4,400
1,240
890
1,300
Tubes and foil
2,800
11, 200
3,000
2,400
3,000
Allother
output at present will be limited to 18,000 tons per year
Total
18, 660
21, 390
25,150
26, 220
91, 420
from Bolivian ore purchased by the Metals Reserve
143, 240
34, 939
35, 61-2
39, 423
38, 266
Net imports 2
Company and smaller amounts previously purchased Change in stocks_.
+56, 820 + 16, 279 + 14,222 +14, 273
+ 12,046
from Netherlands East Indies. Consideration is now
American Bureau of Metal Statistics.
being given to acquiring larger tonnages each year from
2 U. S. Department of Commerce.
Bolivia.
The container industry, normally the greatest conThis domestically refined tin, supplemented by a
sumer
of tin, will feel most of the effect of the curtailsmall quantity imported from Africa, will be our only
ment
orders.
Roughly, 40,000 tons of tin were used in
new supply of primary tin as long as the Far Eastern
the
manufacture
of all kinds of containers in 1941,
supplies are unavailable. Demands, even though they
compared
with
about
one-half that amount made
have been sharply curtailed, will be greatly in excess of
available
in
1942.
The
conservation orders restrict
output; hence, the gap must be filled by drafts on
the
output
of
some
products
to specified percentages
stocks of refined metal. It is believed that these stocks
of
the
pack
in
previous
years,
and
prohibit the use of
could be extended over a longer period of time if all postin
for
canning
products
which
can
be handled in
sible steps were taken to substitute other materials for
other
forms.
There
has
been
much
substitution
of
tin in the manufacture of containers, and if the elecglass
and
paper
for
tin
in
the
output
of
containers,
trolytic process of making tinplate were adopted by a
large majority of the producers. In this process, a 60 but it is felt that this movement has not been carried
percent saving of tin is possible because a thinner coat- as far as possible. Further substitution can be made
ing of metal can be used than in the hot-dip process. by the use of paper for packaging tooth paste, shaving
For example, in the electrolytic method, 4,000 tons of soaps, etc., and there may be an increase in the output
tin could be used to make the same quantity of tinplate of frozen and dehydrated foods.
as formerly required 10,000 tons.
It is possible that the elimination of much of the tin
There is no agreement concerning the magnitude of consumption will have a permanent effect, and the
the possible addition to our tin supply that may come curtailed level of demand may become normal, as
1
SURVEY OF CURRENT BUSINESS
August 1942
substitutes for tin cans and other uses of tin come
into general acceptance.
Because of the priority of military needs for large
quantities of tin, quite naturally reduction of civilian
consumption has been the chief method of balancing
total requirements with the reduced supply. With this
reduced consumption, however, and with continued
imports of refined tin and of ore for smelting to satisfy
part of the demand, we may be able virtually to eliminate the current necessity of drawing down our stock
pile if detinning operations and the savings from the
electrolytic process augment the supply sufficiently.
Construction
more strict than would have been thought possible 3
months ago.
The effect of these regulations, and more particularly
of the shortages of materials and man power which
made them necessary, has been a drastic decline in
construction in some fields. For example, contracts
for private residential building, which were running
10 to 20 percent below 1941 during the first 4 months,
declined to one-third of last year's level by June. The
decline in commercial building was even more drastic,
falling 85 to 90 percent below the 1941 level.
On the other hand, in spite of the policy of carefully
reviewing such projects, the volume of commitments
for direct military construction, and for war plants,
sharply increased.
In terms of expenditures at the site, rather than
Approximately a year ago, the construction industry
first ran into serious difficulties in obtaining certain
critical materials. The immediate so ution of that Figure 1.—Value of New Construction excluding Work-Relief
Construction
problem was found partly through the reduction in the
BILLIONS OF DOLLARS
total volume of construction not directly associated
16
w^ith military requirements, through the substitution of
less critical materials, but most of all through more
effective and economical use of the critical materials
achieved by changes in design and specifications.
Gradually, as we came closer to a full war effort and
shortages became more acute, the list of critical materials lengthened. This has reached the point where
drastic restrictions have had to be placed on the use of
such items as lumber and asphalt, and there is some
question whether the cement producing capacity will
be adequate to meet the requirements of the balance of
the year.
It is evident that the problem of material shortages
1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 <O4I S942
in construction has gone beyond the limits of substitu0.0 <2-324
tion for critical items. Reinforced concrete can replace
Source: U. S. Department of Commerce.
structural steel in bridges and buildings. Timber structures can at times be substituted for either steel or commitments for future expenditure, total construction
concrete. When both cement and lumber are scarce, in the second quarter was the largest ever experienced
there is no satisfactory alternate. To some extent, in any 3-month period. Private and nonwar construcasphalt and cement may be used interchangeably on tion had not yet had time to feel the full effects of the
highways and airport runways. This possibility has restrictions and there was a very large increase in direct
little merit when both are scarce.
military and war plant construction. It seems probable
When the problem of obtaining lumber for war pur- that this will mark the high point for the war. Inposes became acute, the result w^as the extension of dustrial plant construction should continue in substanGovernment control over construction. This began tial volume, but it is not likely to maintain the pheby the simple granting of priorities to essential projects nomenal rate reached in the second quarter. Military
and proceeded to the imposition of various orders construction will tend to increase but not sufficiently to
regulating the manufacture, distribution, or use of offset declines elsewhere.
critical materials, and culminated in Conservation
The prospects are that 1942 will see the peak volume
Order 1^-41 (the "Stop Building" Order). Several of construction since the Twenties and the peak of the
other orders or statements of policy during the second war period (see fig. 1). In table 4 the volume of buildquarter laid great emphasis on the elimination of all ing by various classes of construction is shown by
nonessential construction, and the elimination of non- quarter years. The estimates for the entire present
essential features on those projects which had been year are subject to various qualifications and should
aDDroved. The definition of what is essential is much be regarded with proper reserve.
SUEVEY OF CURRENT BUSINESS
August 1942
Table 4.—New Construction Activity
1941
First
quarter
New construction l
Private
Residential 2
Nonresidential building
Commercial
Factory 3
All other
Farm construction 4
Residential
Service
Public utility 6
.. _ ..
Public construction
Military and naval 6
Nonresidential building
Industrial7
Allother
Highways 8
Sewage disposal and water supply
Residential
All other Federal »
Miscellaneous public-service enterprises 10 -
Second
quarter
2, 278
1,016
508
327
85
188
54
30
18
12
151
1,262
580
237
165
72
220
29
75
96
2,573
1, 323
740
318
105
156
57
90
53
37
175
1,250
318
400
336
64
255
30
118
97
32
195 2
Fourth
quarter
Third
quarter
3,162
1,569
902
327
113
146
68
135
79
56
205
1,593
491
492
423
69
281
29
158
107
35
3,132
1,353
731
334
85
188
61
45
26
19
243
1,779
670
542
476
66
257
27
128
125
30
Total
3,297
848
480
121
28
63
30
81
45
36
166
2,449
1,137
857
801
56
194
30
130
85
16
2,637
869
470
190
54
95
41
27
15
12
182
11,145
5,261
2,881
1,306
388
678
240
300
176
124
774
5,884
2,059
1,671
1,400
271
1,013
115
1,768
575
732
676
56
203
28
105
103
22
479
425
122
Last 6 :
months
Total
(estij (estimated)
mated)
Second
quarter
(preliminary)
First
quarter
(revised)
11.726
2. 754
1,420
456
107
253
96
270
150
120
608
8, 972
4,512
2,736
2,577
162
5. 792
1.037
470
145
25
95
25
162
90
72
260
4,755
2,800
1.150
1,100
50
200
40
415
130
20
98
650
318
1
Does not include data for work-relief construction.
" Data through first quarter of 1942 were prepared by the Bureau of Labor Statistics. V. S. Department of Labor; thereafter preliminary estimates of the U. S. Department3 of Commerce.
Includes religious, educational, social and recreational, hospital and institutional, and miscellaneous nonresidential building.
*5 Revised estimates due to the exclusion of maintenance.
Includes railroads, street railways, pipe lines, electric light and power, eas, telephone and telegraph utilities.
6
Includes cantonments, aeronautical facilities, navy yards and docks, army and navy hospitals, etc.
" Includes public, commercial, educational, social and recreational, hospital and institutional, and miscellaneous,
s9 Revised.
Includes work done by Bureau of Reclamation, Indian Service, Forest Service, Army Engineers, National Park Service, Tennessee Valley Authority, Soil Conservation
Service,
and other Federal agencies not elsewhere included.
30
Includes such municipal enterprises as street railways and other transit systems, oas systems, ports, docks, harbors, airports, tunnels, etc.
Source: U. S. Department of Commerce.
Fats and Oils
Fats and oils (of animal and vegetable origin) constitute an important segment of the national food
supply. They are also essential in many nonfood industrial products; especially soap, with its byproduct,
glycerin, in very large demand. Their next most impoitant nonfood use is as drying agents, in such products
as paints, varnishes, lacquers, linoleum, oilcloth, and
printing ink.
Table 5.—Domestic Disappearance of Fats and Oils
in Selected Years, 1929-41 1
[Millions of pounds, crude basis]
Utilization
All uses_
Food:
Butter, excluding use in
margarine
Margarine
Lard, excluding use in
compounds, etc
Compounds and vegetable cooking fats
Other food products
1929
1932
1941
\
|
j
!
j
j)
\}
2, 310
1,054
669
3,131
32. 0 !
4,033
36. 7
1 Total domestic disappearance, computed from data on production, foreign trade,
and stocks. Break-down by major uses based on Factory Consumption of Animal
and Vegetable Fats and Oils, by Classes of Products, Bureau of the Census, with
approximately 88 percent of "loss including oil in foots," allocated to soap, and with
unreported disappearance allocated to food and industrial uses according to the
character of individual fats and oils.
Source: U . S . Department of Agriculture.
Their domestic uses have shown a pronounced tendency to increase over a long period of years, as shown in
Table 6.—Domestic Disappearance of Specified Fats and Oils
forFood and in lSoap, the Drying Oil Industries, and Other
Products, 1941
[Millions of pounds, crude basis]
Item
Total
Butte r
Lard, including rendered pork
fat
Tallow, inedible, and greases...
Cottonseed oil
Linseed oil
Coconut oil
Soybean oil
Palm oil
Marine animal oils
Corn oil
.
Castor oil
Peanut oil
Tallow, edible
Other fats find oils
Total
Total food
Percent of total
Nonfood:
Soap
Drying industries
Other industrial products.
Total nonfood
Percent of total
table 5, and reached the record volume of nearly 11
billion pounds in 1941. This was an increase of more
than 12 percent over the previous year.
...
Food
boap
Other
Drying
I industrial
oil
products
2,213
1,967
1,667
1,567
816
727
556
292
230
1,967
1,473
195
432
106
6
1.370
79
3 i
518 :
48 j
140 ;
1
784
1
50
29t
14
29
13
27
45
91
174
157 I
146 i
95 !
378
134 !
88 I
185 i
6
5
48
115
4
109
6
2
30
10,985 \
6,952 !
2,310
1.054
669
16
1
46
1
See note 1 for table 5.
2 Less than 500,000 pounds.
Source: U. S. Department of Commerce,
The largest use of fats and oils is for food. This has
nearly doubled in volume in the last three decades,
attaining new high levels in each of the past 6 years.
On the other hand, since 1932, nonfood uses of fats and
oils have shown increasing volumes each year, rising at
a faster rate than food uses. Whereas nonfood uses
were 27 percent of the total in 1932, they rose to 32
percent in 1940 and nearly 37 percent in 1941. Of the
increase of 1.2 billion pounds in total uses of fats and
August 1942
oils from 1940 to 1941, 900 million pounds were nonfood.
Of this, 357 million pounds were used in the manufacture of soap. Many fats and oils used industrially
and reported as inedible, are suitable for food if further
processed. Most fats and oils used for food can also
be used industrially.
Foreign Supplies Curtailed.
Foreign fats and oils (chiefly the latter) going into
domestic uses, approximated 1.7 billion pounds, on the
average, in the 3 years 1939-41. Over two-thirds of
the imported oils came from Far Eastern sources now
largely cut off by the war. Coconut oil and most of our
palm oil were products of, respectively, the Philippines
and Netherlands East Indies. These two oils supplied
about 28 percent (658 million pounds) of the fats and
oils for soap last year and an even larger proportion of
the glycerin derived in soap manufacture because of
their high glycerin content. They provided, in addition,
301 million pounds of food oils in 1941, together with
smaller quantities for tin- and terne-plate manufacture
and other industrial purposes. The Far East also
formerly supplied substantial quantities of the fastdrying oils like king.
Imports from Western Hemisphere countries, however, are increasing. Unless the shipping situation
should prevent it, imports in 1942 may total 1 billion
pounds.
Analysis of edible fats and oils disappearance seems
to indicate that it is influenced very little by fluctuations in industrial activity and purchasing power. Both
the index of their disappearance and the Federal Reserve index of industrial production have shown upward trends since 1932, but the year-to-year changes in
industrial activity have not been reflected in edible fats
and oils consumption. This conclusion rests on the
evidence shown in figure 2 where annual deviations
of fats and oils disappearance from its straight trend line
over the period 1932-41 are compared with annual
deviations of industrial output from a similar trend.
The fact is that per capita use of edible fats and oils
varies but little from year to year. As foods, they
have almost always been relatively cheap. When domestic supplies have been light, the prices of edible fats
and oils have risen and imports have been stimulated,
thus augmenting domestic production until per capita
supplies were up to their usual level. When domestic
supplies have been heavy, edible fats and oils have been
exported, thus reducing domestic per capita supplies to
their usual level. It is estimated that in 1942, consumption of edible fats and oils will be 7 billion pounds. Of
this, about 200 million pounds will probably be drawn
from invisible stocks.
Inedible Fats Consumption Follows Changing Economic
Conditions.
There is a fairly close relationship between industrial
activity and the consumption of inedible fats and oils.
Disappearance of inedible fats and oils has shown an
473815—42
2
9
SURVEY OF CURRENT BUSINESS
upward trend in the last 10 yeais. When this rising
10-year trend is removed from the inedible fats and oils
consumption data, an index of year-to-year changes is
obtained, free from the growth element in consumption.
These short-run changes are directly related to the yearto-year changes in industrial production. (Seefig.2.)
In 1941 the disappearance of inedible fats and oils
was about 4 billion pounds. Market surveys show
that at least 400 million pounds of this disappearance
went into overstocks, making actual consumption about
Figure 2.—Indexes of Disappearance of Fats and Oils and
Industrial Production as Deviations from Straight-Line
Trend. 1
1935-39 = 100
150
1935-39
DISAPPEARANCE OF INEDIBLE
FATS AND OILS
(RIGHT SCALE)
IOO
120
t
/
'
125
100
INDUSTRIAL PRODUCTION*
(LEFT SCALE)
100
DISAPPEARANCE OF EDIBLE FATS AND OILS
(LEFT SCALE)
75
60
1932 1933 1934 1935 1936 1937 1938 1939 1940
1941
OO42-321
1
Data are plotted on ratio scales.
Source: Basic data for Industrial Production, Board of Governors of the Federal
Reserve System, for Disappearance of Fats and Oils, U. S. Department of Agriculture. Deviations from trend calculated by the U. S. Department of Commerce.
3.6 billion pounds compared with 3 billions in 1940.
The Department of Commerce estimates that industrial production as measured by the Federal Reserve
index will average about 17 percent higher in 1942
than in 1941. Any such estimate rests on many
assumptions and qualifications, of course, but if this
increase should materialize, a related increase in the
consumption of inedible fats and oils to around 4.2
billion pounds may be expected in 1942, or an increase
of 16 percent over the actual consumption in 1941.
At least 400 million pounds of this consumption will be
comprised of withdrawals from excess stocks of finished
products on the shelves of wholesalers, retailers, and
individuals. Subtracting this 400 million pounds of
overstock from the estimated consumption, it appears
that the disappearance of inedible fats and oils will be
3.8 billion pounds in 1942.
Based on the afore-mentioned estimate of industrial
production, the outlook is for a total unrestricted disappearance of all fats and oils in 1942 of about 10.6
billion pounds. This figure, however, represents maximum disappearance. The aggregate effect of taxes,
bond sales, an.d other factors may be of sufficient
importance to cut disappearance of fats and oils about
300 million pounds under what could normally be
anticipated on the basis of population growth and
increased industrial activity.
(Continued on p. 17)
10
SURVEY OF CURRENT BUSINESS
August 1942
National Income And The War Effort—
First Half Of 1942
By Milton Gilbert and Robert Bangs]
\LTHOUGH the rearmament effort had been under•**• way for a year and a half before December 7, the
magnitude and tempo of the war program increased
greatly after the attack on Pearl Harbor. This expansion in armament goals necessarily meant a drastic
change in the underlying economic situation and in the
character of the economic directives issuing from the
Government war agencies. The period before Pearl
Harbor was essentially one in which armament production was superimposed upon the civilian economy,
despite the fact that after the middle of 1941 material
shortages were leading to minor restrictions on civilian
goods output. After Pearl Harbor, on the other hand,
material shortages were so greatly intensified and the
need for industrial facilities in the war effort was so
pressing, that the release of economic resources from
the civilian goods sphere of the economy was required
on a large scale. Apart from the rising tide of military
output itself, this releasing of resources from civilian
goods industries was the characteristic feature of the
past 6 months.
With economic activity at the end of 1941 on a scale
well below the potential ceiling, ultimately limited only
by availability of manpower, total production continued to rise during the first half of this year under the
impetus of expanded war demands. Severe curtailments in nonwar industries, therefore, were more than
offset by the rapid expansion of war output. In terms
of current dollars, the gross national product in the
second quarter of 1942 was flowing at an annual rate of
more than 146 billion dollars as against the 1941 total
of less than 120 billions or the last quarter 1941 rate of
127 billions. By the second quarter of 1942 the national
income had reached an annual rate in excess of 112
billions. This figure compares with the 1941 total of
less than 95 billions and the rate in the fourth quarter
of that year of 103 billions. While the continued expansion of both these aggregates reflects the influence
of rising prices, there remains nonetheless a significant
rise in the physical flow of goods and services. It is
estimated that the gross national product in real terms
rose 15 percent from the second quarter of 1941 to the
second quarter of 1942.
War Output an Increasing Fraction of National Product.
Needless to say, the expansion of war output dominated economic trends over the past 6 months. Fed
* While the statistical data incorporated in this article are a product of the National
Income Unit as a whole, special mention must be made of the assistance of Mr. George
Jaszi. In addition, the cooperation of the Munitions Branch of the Bureau of Research of the War Production Board, at whose request the quarterly estimates were
undertaken, and the Current Business Analysis Unit of the Bureau of Foreign and
Domestic Commerce was indispensable. All concerned wish it understood that
quarterly estimates so soon after the event are necessarily more approximate than
http://fraser.stlouisfed.org/
Federal Reserve usual
Bankannual
of St. series.
Louis
both by diversion of output from the civilian sphere and
by over-all expansion in utilization of resources, the
stream of war expenditures has risen sharply in absolute
terms and has constituted an increasing share of total
output. By the second quarter of this year war expenditures were running at an annual rate of nearly 41
billion dollars, in contrast to rates of 9 billion for the
Figure 3.—Utilization of Gross National Product.
BILLIONS OF DOLLARS
150
100
2nd
1942
3rd 4th
DD 42-306
Source: U. S. Department of Commerce.
comparable quarter of last year and 17 billion for the
final quarter of 1941. In relative terms, the flow of war
output rose from 8 and 13 percent of the gross national
product in the second and fourth quarters of 1941,
respectively, to 28 percent in the second quarter of this
year. As related to national income, the more appropriate percentage for measuring the disposition of economic resources in terms of their earnings, the upward
movement of the war-impact percentage has been
equally impressive. In the second and fourth quarters
of last year the relation of the earnings of productive
resources paid out of war expenditures to total factor
earnings was 9 and 15 percent, respectively. In the
second quarter of this year this relation had risen to 31
percent.
\
Widespread use of these war-impact ratios as shorthand symbols expressing the degree of economic mobilization makes desirable a brief digression on their
restricted meaning. In the first place, it must be
recognized that the greater the degree of conversion of
an economy to war, the less is the significance that can
be attached to a ratio of this type. This is because the
computation of the ratio must rest upon some arbitrary
definition of what activities constitute the war effort.
In the statistical tables presented in this article, for
example, war expenditures are measured by the total
August 1942
SURVEY OF CURRENT BUSINESS
expenditures reported in the Daily Treasury Statement,
plus outlays of the national defense corporations not
appearing in the budget, both adjusted to exclude such
expenditures as do not constitute drafts against current
output.2 This definition does not realistically separate
goods essential to the prosecution of the war from those
used exclusively for nonwar purposes. Much that is required to maintain the nation at war remains in the
civilian-goods sphere. In fact, it is not too much to
say that, as the shortages become more generalized and
more stringent, many types of output in the civilian
sphere will undoubtedly command a higher order of
priority than certain components of gross output now
classified as war expenditures.
To illustrate: Capital equipment purchased by private industry is not included in war goods output, even
though used entirely for armament production, whereas
Government purchase of the same equipment for the
same purpose is included in war expenditures. Similarly, food and clothing supplied to the armed forces
are statistically war expenditures, while the corresponding expenditures of workers in war plants are statistically civilian expenditures, according to the definition
used here. Furthermore, as an all-out war effort is
approached, the arbitrariness of the separation between
the war and civilian sectors of the economy is magnified; one can no longer tell from the percentage itself
whether or not a greater war effort is possible. The
difficulty in interpreting the ratio as it becomes relatively high may be seen from the fact that even though
economic mobilization were complete, the ratio must
necessarily remain far short of 100 percent. Moreover, even after the war effort had reached its peak,
the percentage could continue to rise simply because a
larger proportion of economic activity depended upon
Government financing and might be counted as war
expenditures in official bookkeeping.
In the second place, the trend of war expenditures
does not accurately measure the distribution over time
of the economic effort devoted to war, the measure
being designed, rather, to approximate the volume of
output currently available for war use. This is because the war expenditure total, month by month, is
largely on a delivery basis. Consequently, it does not
take account of much of the accumulation of goods in
process in armament industries during the expansion
phase of the war effort and the using up of this inventory at a later date. At the present time, of course,
inventory is being accumulated in war industries at a
very high rate, the available evidence indicating that
the rate of such accumulation in the second quarter of
1942 may well have been over 3 billion dollars annually.
Finally, and most important, these war-impact ratios
are often used with the tacit assumption that they
measure the disposition between war and civilian uses of
real resources in physical terms, even by those who
recognize the tenuousness of the concept of the quantity of
1
The above definition of war expenditures is used throughout this article.
11
real resources. Such, however, is not the case. As is.
well known, costs in war industries are substantially
higher than costs of similar factors in nonwar industries,
the only significant exception being the rate of pay of
the armed forces. In support of this contention, it is
certainly doubtful that either the rise in total output
over the past year or the present magnitude of durablegoods production could have been attained without the
large relative shift from civilian to war production. As a
consequence, the impact ratio seriously overstates the
fraction of "total quantity of real resources" currently
devoted to the war effort. Put another way, it is not
possible to visualize the quantity of goods and services
received for a billion dollars of war expenditures in
terms of the average quantity of nonwar goods and
services obtainable for an equivalent sum. A statistical
correction for this fact cannot be made at the present^
time but the evidence leaves no doubt that it would
have to be substantial. It may be noted that this
difference in factor costs as between war and nonwar
industries is an important element contributing to the
rise in total output, at a time when the composition of
output is changing in favor of war goods.
Difficulties such as those mentioned make it necessary
that care be exercised in interpreting movements in the
ratios of war expenditures to national income or gross
national product over time and in making comparisons
of the ratios among various countries.
Changes in the Gross National Product.
An outline of the change that has come in the character of the economic situation during the first half of
1942 may be seen in table 3. Through the first three
quarters of 1941 the absolute rise in the value of the
gross national product consistently exceeded the increase in the value of war expenditures. In the fourth
quarter of last year and the first quarter of the present
year this relationship was reversed, although the difference between the changes in the two aggregates was
slight. In the second quarter of 1942, however, the
growth in war expenditures far exceeded the expansion
in total output. By way of summarizing what happened during the past 6 months, it may be noted that
the annual rate of war expenditures increased by 23.8
billion dollars from the last quarter of 1941 to the
second quarter of this year, while the gross national
product rose only 19.4 billion dollars at an annual rate
over the same period. Thus, the growth in war
expenditures was being made possible in part by a 4.4billion curtailment in the rate of nonwar expenditures.
This curtailment in terms of actual dollars expended
was, in fact, restricted to only one of the major components of gross national expenditure, namely, private
capital formation. From a peak annual rate of over
20 billion dollars during the latter half of 1941 the
aggregate of private gross capital formation fell to a rate
of less than 14 billion in the second quarter of this
year. Two of the major components of this aggregate,
12
SURVEY OF CURRENT BUSINESS
namely, construction and equipment expenditures, fell
sharply, reflecting the fact that the output of the construction and machinery industries was being purchased
directly by Government to an increasing extent. Business inventories were still increasing at a substantial
rate during the past 6 months, though there was some
decline in the rate of accumulation from the fourth
quarter of last year. This decline was a factor contributing to the sharp reduction in total private capital
formation.
With respect to the other major components of gross
national expenditure, changes over the past 6 months
were relatively small. Nonwar Government expenditures appear to have been virtually constant, considering the somewhat random character of these expenditure flows quarter by quarter. It must be pointed out
that the separation of Government expenditures into
war and nonwar categories is done largely on the basis
of broad agency groups, and that consequently the
added wartime burdens on "nonwar agencies" tend to
maintain the total of nonwar Government expenditures.
The seasonally adjusted rate of consumer expenditures,
on the other hand, was moderately higher over the past
6 months than during the second half of last year. This
slight advance reflects, of course, the influence of rising
prices, which more than offset the decreasing physical
flow of goods and services to consumers.3
August 1942
the level of a year ago by a fairly sizeable margin in
real terms, the relative levels being just reversed in
current dollars.
From these data a table can be constructed showing
the sources of real war output in the second quarter
of 1942 relative to the pattern of a year earlier. The
annual rate of war expenditures during the later period,
in terms of prices prevailing during the earlier, was39.2 billion dollars. Over this 1 year span the real
volume of war output increased more than fourfold.
Figure 4.—Utilization of Gross National Product, Seasonally
Adjusted Quarterly Data at Annual Rate
BILLIONS OF DOLLARS
175
150
IN 2 nd
QUARTER
CURRENT
DOLLARS
GOVERNMENT,
WAR
125
100 —
The Sources of War Output in Real Terms.
While the changing pattern of gross national product
and expenditure in current dollars provides data of
considerable importance for the analysis of the fiscal
problems which the war has produced, tins pattern
does not mirror the real impact of the war program
upon the economy. For this latter purpose, it is
essential that some conception of the various expenditure flows in real terms be employed. With full
recognition of all the inherent limitations involved,
such a calculation has been attempted because of the
basic necessity to analysis and policy formation of an
approximate notion of the real sources of war "finance/'
In order that changes up to the most recent period
may be seen, the comparison of the gross national
product in real terms was made between the second
quarters of 1941 and 1942. The data are shown in
figure 4 and table 2. As previously mentioned, the
real gross product was increased by 15 percent over
this period, the absolute figures being a rate of 116
billion dollars in the 3-month period a year ago as
compared with a rate of nearly 134 billion in the second
quarter of this year (second quarter 1941 prices used
in both instances). As with the current dollar figures,
the increase in real war expenditures dominated the
upward movement of the gross product. In contrast
to the estimates in current dollars, however, all other
components are seen to have decreased in real terms.
Consumers' expenditures in particular are running below
3 An analysis of the changing pattern of consumers' expenditures will be presented
in a forthcoming issue.
SECOND
QUARTER
\ n 1, i
SECOND
QUARTER
0 0. 4 2 -309
I942
Source: U. S. Department of Commerce.
The sources from which this expanded flow of war
output was derived are shown in the following table.
Increase of real war expenditures, 2d quarter 1942 over
2d quarter 1941 (billions of dollars) 1
30. 2
Sources:
Decrease in other Government expenditures
.6
Decrease in private gross capital formation
5. 9
Decrease in goods and services sold to consumers 6. 0
Increase in gross national product
17.7
Tot al
1
30. 2
All figures are annual rates in 2d quarter 1941 prices.
Several facts brought out by this tabJe are of special
interest. It may be seen that diversion of output from
the area of private capital formation to war purposes was
virtually as large in absolute terms as that from the field
of consumer expenditures, despite the fact that the latter
category of output was four times as large. This reflects, of course, the heavy inroads which war requirements must make upcm those specialized types of resources which can most readily be adapted to war production. By the very nature of war output, such
resources are concentrated in durable goods industries.
These industries account for a much larger proportion
of the output which constitutes capital formation than
of the output reaching consumers.
August 1942
It is also significant that the increase in the rate of
war expenditures over a year ago was secured more
through overall expansion of output than through
diversion of nonwar production. In view of the very
high level of total operations in the second quarter of
last year, this is a testament to the expansion possibilities of our economy. It likewise makes clear, however, the general character of the task accomplished
during the past 6 months—particularly when considered
with the fact that so much of the diversion represented
merely a shift in the source of expenditures from private
Figure 5.—Disposition of Individuals' Income, Seasonally
Adjusted Quarterly Data at Annual Rate
BILLIONS OF DOLLARS
125
TAXES
100
SAVINGS
INCREASE IN
SPENDING DUE
TO PRICE RISE
CONSUMERS'
EXPENDITURES
FOR GOODS
AND SERVICES
25
13
SURVEY OF CURRENT BUSINESS
IN CURRENT
DOLLARS
Source: TJ. S. Department of Commerce.
to public rather than a change from civilian to armament production. What was accomplished in the
course of these 6 months was the releasing of resources
readily convertible to war production from their tasks
in the civilian sphere. Completing the actual conversion of these resources into an expanded war industry
remains one of the major jobs of the immediate period
ahead.
The Disposition of Consumers' Income.
Combining the measurements of total income flow
to individuals with certain of the streams contributing
to gross national expenditure yields a summary picture
of the manner in which the income of consumers is being
utilized.
It may be noted that taxes paid by individuals,
measured on a collections basis, had done relatively
little toward checking the rising tide of individuals'
disposable income up through the first half of 1942.
From an annual rate of 96 billion dollars in the fourth
quarter of 1941, disposable income of individuals rose
to a yearly rate of 103 billion by the second quarter of
this year, an advance of 7 percent.
With war requirements for materials and industrial
facilities cutting more and more deeply into the flow
of consumer goods, especially in the durables group, the
excess disposable income has been accommodated by
two general outlets. In the first place the steady
advance of retail prices up to the issuance of the General
Maximum Price Regulation enabled the diminished output of consumer goods plus a probable draft on inventories of civilian goods to be equated to the larger
volume of consumer spending.
In the second place, a substantial part of the swollen
income flow was sterilized by an extraordinary rise in
individuals7 savings. At present this savings flow can
be only inadequately traced in detail, but a few enlightening facts are available. Purchases of war bonds
and stamps rose from an annual rate of 2.8 billion dollars
in the second quarter of 1941 to 7.0 billion in the corresponding period of this year. There is little doubt that
some of this increase represents new saving.
Table 1.—Percentages of War E x p e n d i t u r e s to Gross
National Product and National Income
War expenditures as percentage of
gross national
product
Year and quarter
1940
1941:
I
II
III
IV
1942:
I
II
War expenditures as percentage of
national income i
3
3
6
8
10
13
7
9
11
15
20
28
22
31
Further Rise in National Income.
During the first 6 months of 1942 national income
continued its rising trend, advancing to a record annual
rate of more than 112 billion dollars in the second
quarter in comparison to a rate of 103 billion at the
close of 1941. The tremendous upward sweep of the
income flow since the outbreak of the war in Europe
may be seen by contrasting the present rate with the
1939 national income total of 77 billion dollars. Although all the major types of income shared in the rise
since 1939, the continuing upward movement during
the past 6 months is accounted for largely by the wage
and salary and farm income components.
1
National income defined for this purpose inclusive of corporate-income and excessprofits taxes. War expenditures adjusted to exclude indirect taxes. (See notes.)
Table 2.—Gross National Product in Second Quarter 1941
Prices: Seasonally Adjusted Annual Rates
[Billions of dollars]
Second quarter
Line
Item
1941
Government war
Government nonwar
Private gross capital formation .
Consumers' goods and services
Total gross national product
_
1942
9.0
13.0
18.7
75.4
39.2
12.4
12.8
69.4
116. 1
133.8
14
SURVEY OF CURRENT BUSINESS
August 1942
Table 3.—Gross National Product or Expenditure: Seasonally Adjusted Annual Rates
[Billions of dollars]
1940
1939
Line
1942
Item
Gross national product or expenditure
Less: Government expenditures for goods
and services
Federal Government._.
War
Other Federal GovernmentState and local government
Equals: Output available for private use...
Less: Private gross capital formation
Construction
Producers' durable equipment-..
Net change in business inventories
Net export of goods and services..
Domestic output of monetarygold and silver
Equals: Consumers' goods and services—
Durable goods
Nondurable goods and services
I
II
III
IV
I
II
III
IV
I
II
III
IV
85.1
86.2
88.2
92.9
94.9
94.5
96.1
102.6
110.4
115.9
124.4
127.0
136.7
146.4
14.5
6.2
1.2
5.0
8.3
70.6
9.9
3.7
4.9
15.4
7.1
1.4
5.7
8.3
70.8
9.4
3.8
5.1
15.3
7.0
1.4
5.6
8.3
72.9
10.6
3.9
5.3
15.1
6.8
1.6
5.2
8.3
77.8
14.2
4.0
6.2
15.7
7.4
1.8
5.6
8.3
79.2
14.2
4.1
6.3
16.0
7.7
2.0
5.7
8.3
78.5
13.0
4.4
6.3
15.7
7.4
2.6
4.8
8.3
80.4
14.3
4.5
6.6
17.9
9.6
4.8
4.8
8.3
84.7
16.7
5.0
7.2
20.7
12.5
6.7
5.8
8.2
89.7
16.9
5.3
8.3
22.0
13.8
9.0
4.8
8.2
93.9
18.3
5.4
8.8
25.3
17.1
12.1
5.0
8.2
99.1
21.0
5.6
9.9
30.5
22.3
17.0
5.3
8.2
96.5
19.9
5.5
8.5
40.1
31.9
27.3
4.6
8.2
96.6
16.0
4.6
7.6
53.7
45.7
40.8
16
.7
.7
2.7
1.0
2.0
1.7
.4
1.5
1.9
1.2
2.8
1.3
2.3
1.0
3.2
.7
3.8
1.3
4.9
.9
2.8
.5
.3
61.4
6.9
54.5
.0
62.3
7.0
55.3
.3
63.6
7.5
56.1
.1
65.0
8.0
57.0
.4
65.5
8.1
57.4
.1
66.1
8.0
58.1
.4
68.0
9.0
59.0
.0
72.8
10.9
61.9
.2
75.6
11.1
64.5
.4
78.1
10.4
67.7
.1
76.6
8.8
67.8
3.1
.6
.1
80.6
7.3
73.3
.4
.7
.2
60.7
6.9
53.8
~— 4
•
4.9
8.0
92.7
13.9
3.7
6.8
.1
78.8
6.5
72.3
Table*4.—National Income by Distributive Shares: Seasonally Adjusted Annual Rates 1
____
[Billions of dollars]
1939
1940
1941
1942
Item
Line
Total national income
Salaries and wages
Other labor income
Total compensation of employees
Entrepreneurial income and net rents
Interest and dividends
Corporate savings
67.7
42.9
4.0
46.9
12.9
8.1
—.3
II
III
IV
69.2
43.3
3.9
47.2
13.1
8.7
.2
71.6
44.4
3.7
48.1
13.4
9.2
74.6
46.6
3.6
50.2
14.1
9.5
74.8
47.0
3.7
50.7
13.8
9.3
II
III
IV
75.6
47.8
3.7
51.5
13.7
9.3
1.2
77.2
49.3
3.7
53.0
13.5
9.5
1.2
81.2
51.9
3.7
55.6
14.4
9.6
1.7
86.0
55.8
3.7
59.5
14.9
9.5
2.1
II
III
92.4
59.7
3.8
63.5
16.4
9.7
2.8
97.6
63.3
3.5
66.8
18.1
10.0
2.7
IV
103.0
66.5
3.5
70.0
20.0
10.4
2.6
108.4
70.9
3.4
74.3
21.0
10.4
2.7
112.2
75.3
3.4
78.8
21.4
10.1
2.0
i Figures do not necessarily add to totals because of rounding.
Table*5.—National Income by Use of Funds: Seasonally Adjusted Annual Rates
[Billions of dollars]
1939
II
III
IV
I
II
III
IV
Federal
State and local
Equals: Disposable income of individuals.Less* Consumers' expenditures
Equals: Net savings of individuals
67.9
2.3
—.3
1.9
2.2
.8
1.4
66.4
60.7
5.7
68.6
2.3
.2
1.9
2.3
.8
1.5
66.5
61.4
5.1
71.6
2.4
.9
2.0
2.4
.9
1.5
68.7
62.3
6.4
74.9
2.2
.9
2.1
2.5
.9
1.6
71.6
63.6
8.0
74.8
2.4
.9
2.1
2.5
1.0
1.5
71.7
65.0
6.7
75.6
2.5
1.2
2.1
2.5
1.0
1.5
72.3
65.5
6.8
77.2
2.6
1.2
2.1
2.6
1.1
1.5
73.9
66.1
7.8
81.2
2.3
1.7
2.2
2.7
1.1
1.6
76.9
6S.0
8.9
M E M O : Consumers' expenditures in average 1941 dollars
-
64.7
65.9
66.1
67.2
68.9
69.0
69.8
71.8
I
1
2
3
4
j
8
9
10
11
1941
1940
1942
Item
Line
National income
Add: Transfer payments
Less: Corporate savings
Employment taxes
Personal taxes
_•
I
IV
I
97.6
2.2
2.7
2.6
3.3
1.7
1.6
91.2
78.1
13.1
103.0
2.0
2.6
2.8
3.5
1.8
1.7
96.1
76.6
19.5
108.8
2.1
2.7
2.9
5.4
3.8
1.6
99.9
80.6
19.3
112.2
1.8
2.5
3.1
5.6
3.9
1 7
103.0
78.8
24.2
76.5
72.5
74.1
70.3
II
III
86.0
2.3
2.1
2.3
2.9
1.5
1.4
81.0
72.8
8.2
92.4
2.2
2.8
2.6
3.2
1.6
1.6
86.0
75.6
10.4
76.3
76.9
II
A year ago, moreover, consumers were adding to their cant in this regard that the shortages of consumers'
outstanding short term debt at an annual rate of 3.2 goods thus far have been largely of commodities which
billion dollars; during the past quarter, consumer credit are purchased only at infrequent intervals and of which
outstandings were being retired at a rate of 3.3 billion. consumers held a relatively large and well conditioned
This change in rate of 6.5 billion dollars is a result both stock. The spending-saving reaction to future shortof the consumer credit restrictions now in force and the ages of nondurable goods, which are purchased day in
nonavailability of durable consumers' goods ordinarily and day out, may easily be of a different character.
in heavy demand at high levels of disposable consumer Furthermore, due to the necessity of debt repayment, a
income. Of the two, the latter is by far the more imsizable part of the increased saving has come, in a sense,
portant factor. The change in consumer credit together
automatically. It will take a much more conscious
with the increase in sale of war bonds accounts for the
preponderance of the total increase in savings over decision on the part of consumers to maintain such
saving once a substantial part of this outstanding debt
this period.
It must be emphasized that, while the rising trend is liquidated. Consequently, intensification of efforts
of savings has been a powerful anti-inflationary force to to hold prices down is apt to be necessary as the months
date, overreliance upon this factor in the effort to pass, quite apart from the pressure of a steadily rising
maintain stable prices is easily possible. It is signifi- flow of income.
15
SURVEY OF CURRENT BUSINESS
August 1942
Table 6.—Gross National Product or Expenditure
[Billions of dollars]
1939
Line
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
1941
1940
1942
Item
Gross national product or expenditure . _ --. -.
Less: Government expenditures for goods and services
Federal Government
War
Other Federal Government
- . ._
State and local government
Equals: Output available for private use
_ .
Less: Private gross capital formation
Construction
Producers' durable equipment
Net change in business inventories
Net export of goods and services
Domestic output of monetary gold and
silver
Equals: Consumers'goods and services __
._
Durable goods
Nondurable goods and services _.
Total
I
II
III
IV
Total
I
II
III
IV
Total
I
II
III
IV
20.0
21.8
22.0
24.3
88.1
22.6
23.9
23.8
26.8
97.1
25.9
29.4
31.1
33.1 1J9.5
3.6
1 6
3.8
3.9
3.8
15.1
3.8
4.0
6.8
1.4
1.8
.4
1.9
.5
5.4
34
7.7
1.7
.4
5.1
3.1
6.4
1.8
.4
4.5
24
16.3
1.7
.3
4.0
1 9
1.7
2.2
4.3
3.0
5.6
4.3
.3
1.3
2.0
16.4
2.2
.7
1 2
1.4
2.1
18.0
2.4
1.0
1 3
.1
—.1
.2
.0
14.2
1.5
12.7
.7
.3
5.2
8.3
80.8
14.6
4.5
6.6
1.8
1.4
1.4
2.0
20.8
4.0
1.1
2.1
.6
.2
1.2
2.0
24.0
4.7
1.4
2.2
.8
.2
1.3
2.1
24.7
5.6
1.7
2.5
1.0
.3
1.3
2.1
25.4
4.8
1.3
2.1
1.2
.2
24.6
16.4
11.2
5.2
8.2
94.9
19.1
5.5
8.9
3.6
.9
.1
18.2
2.3
15.9
.3
66.2
8.3
57.9
.0
16.8
2.3
14.5
.1
19.3
3.1
16.2
.1
19.1
2.6
16.5
.0
20.6
2.3
18.3
.2
75.8
10.3
65.5
8.0
2.8
1.2
1.3
2.1
20.5
3.5
1.0
1.6
.6
.2
5.4
8.3
73.0
11.0
3.9
5.4
.8
.8
1.4
2.0
18.8
3.5
.8
1.6
.6
.4
1.4
2.1
19.9
3.3
1.2
1.6
.0
.4
1.2
2.1
19.8
3.7
1.3
1.6
.5
.3
1.2
2.1
22.3
4.1
1.2
1.8
.2
1.4
2.1
18.1
2.9
1.2
1.3
.2
.2
.0
15.6
1.9
13.7
.0
15.2
1.7
13.5
.1
17.0
2.0
15.0
.1
62.0
7.1
54.9
.1
15.3
1.7
13.6
.1
16.6
2.3
14.3
.0
16.1
2.0
14.1
II
I
32.6
36.7
10.0
1.1
2.1
22.6
3.7
.9
1.9
.8
.1
13.4
11 4
10.2
1.2
2.0
23.3
3. 6
1.0
1.7
8
.1
.0
18.9
1.6
17.3
.0
19.7
1. 7
18.0
7.9
6.8
Table 7.—National Income by Distributive Sharesl
[Billions of dollars]
1939
Line
1941
1940
1942
Item
1 Total national income
2 Salaries and wages
3 Other labor income
4 Total compensation of employees
5 Entrepreneurial income and net rents
6 Interest and dividends .
7 Corporate savings
.
I
II
III
IV
Total
I
II
III
IV
Total
I
II
III
IV
Total
I
16.6
10.6
1.0
11.6
3.1
2.0
17.2
10.8
1.0
11.9
3.1
2.1
1
17.6
11.0
.9
11.9
3.4
2.0
3
19.5
12.0
.9
12.9
3.7
2.7
.2
70.8
44.4
3.8
48.2
13.3
8.9
4
18.2
11.5
.9
12.5
3.3
2.1
2
18.7
11.9
.9
12.9
3.2
2.3
3
19.2
12.2
.9
13.1
3.5
2.2
4
21.3
13.3
.9
14.3
3.8
2.8
3
77.3
49.0
3.7
52.7
13.8
9.4
1 3
20.8
13.6
.9
14.6
3.6
2.2
5
22.9
14.9
1.0
15.9
3.9
2.4
7
24.5
15.8
.8
16.6
4.6
2.3
9
26.5
16.9
.9
17.8
5.3
3.0
5
94.7
61.3
3.6
64.9
17.4
9.9
2.6
25.7
17.3
.9
18.2
4.8
2.2
.6
II
27.6
18 8
.9
19.7
5.0
2.4
.5
i Figures do not necessarily add to totals because of rounding.
Table 8.—National Income by Use of Funds
[Billions of dollars]
1939
Line
1
2
3
4
5
6
7
8
9
10
1941
1940
1942
Item
National income
Add: Transfer payments
Less: Corporate savings.
Employment taxes
Personal taxes _ _
-- .
Federal
State and local
Equals: Disposable income of individuals
Less: Consumers'expenditures
... .
Equals: Net savings of individuals
.. ._
I
II
III
IV
Total
I
II
III
IV
Total
I
II
III
IV
Total
I
16 6
.6
-.1
.5
.7
.3
17 2
.6
.1
.5
.6
.2
17.6
.6
.3
.5
.6
.2
19.4
.6
.2
.5
.5
.2
70.8
2.4
.4
2.0
2.4
.9
18.1
.6
.2
.5
.8
.4
18.7
.6
.3
.5
.6
.2
21.3
.6
.3
.6
.5
.2
22.9
.6
.7
.6
.7
.3
24.5
.5
.9
.7
.7
.3
26.5
.5
.5
.7
.7
.3
.4
.4
.3
16.8
15.2
1.6
18.8
17.0
1.8
21.5
19.3
2.2
22.7
19.1
3.6
25.1
20.6
4.5
94.7
2.2
2.6
2.6
3.2
1.6
1 6
88.5
75.8
12.7
25.7
.5
.6
.7
2.3
1.8
16.6
15.6
1.0
77.3
2.4
1.2
2.1
2.5
1.0
1 5
73.9
66.2
7.7
20.8
.6
.5
.6
1.1
.7
16.1
_. _ 14.2
1.9
19.2
.6
.4
.5
.6
.2
4
18.3
16.1
2.2
.4
1.5
68.3
62.0
6.3
.4
.4
17.2
15.3
1.9
17.9
16.6
1.3
3
20.5
18.2
2.3
4
19.2
16.8
2.4
4
4
4
II
27.6
.4
.5
.8
1.3
.94
25.4
19.7
5.7
5
22.6
18.9
3.7
Table 9.—Relation of Gross National Product to National Income
[Billions of dollars]
1939
Line
1
2
3
4
5
6
7
1941
1940
1942
Item
National income *
Business taxes
Depreciation and depletion charges
.._
Other business reserves
Capital outlays charged to current expense
Inventory revaluation adjustment
Adjustment for discrepancies
Gross national product or expenditure
-
I
II
III
IV
Total
I
II
III
IV
Total
I
II
16.6
2.1
1.6
.2
.2
-.1
-.6
20.0
17.2
2.3
1.6
.2
.2
.1
.2
21.8
17.6
2.5
1.6
.2
.2
19.5
2.7
1.6
.2
.2
-.2
.3
24.3
70.8
9.6
6.4
.8
.8
-.3
.0
88.1
18.2
2.6
1.6
.2
.2
-.1
-.1
22.6
18.7
2.8
1.6
.2
.2
.0
.4
23.9
19.2
3.1
1.6
.2
.3
-.1
—.5
23.8
21.3
3.3
1.7
.3
.3
-.2
.1
26.8
77.3
11.8
6.5
.9
1.0
-.4
.0
97.1
20.8
3.8
1.7
.3
.3
-.5
-.5
25.9
22.9
4.3
1.7
.4
.4
-.7
.4
29.4
i
!o
22.0
III
IV
Total
24.5 26.5 94.7
4.6
4.9 17.6
7.0
1.8
1.8
1.6
.4
.5
.5
.6
1.8
- . 9 -1.1 -3.2
.0
.2 - . 1
31.1 33.1 119.5
I
25.7
5.2
1.9
.5
.6
-.7
-.6
32.6
II
27.6
5.4
2.1
1.0
.8
—. 7
.5
36.7
i Quarterly figures do not necessarily add to annual totals because of rounding.
Statistical Notes
The quarterly figures of the various components of gross national expenditure are interpolations of the annual figures published in the May 1942 Survey. The following notes, therefore,
deal principally with methods of interpolation and should be
used in conjunction with the notes in the May article explaining
the derivation of the basic annual figures. As in the May article
the notes are arranged by tables and are keyed to the line numbers appearing in the tables.
TABLE 1
Column 1 of this table was calculated directly from lines 1
and 4 of table 3. Column 2 is designed to show the relation
http://fraser.stlouisfed.org/
hptwpftn
total
earnings of the factors of production and those
Federal Reserve
Bank of
St. Louis
factor earnings arising directly from war expenditures. In computing this relation, adjustments were made in both the national
income and war expenditure series. Corporate income and
excess profit taxes on an accrual basis were added to national
income, it being thought that this total more accurately measures
the factor cost of current output than the national income net
of such taxes. From war expenditures there was deducted an
estimate of the other business taxes incorporated in war expenditures. This estimate was obtained by subtracting all the other
business taxes, which apply specifically to consumption goods,
from the total and allocating the remainder by the ratio of war
expenditures to national product. By this method the amount
of taxes deducted from war expenditures was .1, .2, and .7 billions
of dollars for the years 1939, 1940, and 1941, respectively.
16
SURVEY OF CURRENT BUSINESS
TABLE 2
The deflation of the gross national product for the second
quarter of 1942 shown in this table was obtained as follows:
Line 1.—Deflation supplied by Munitions Branch of the
Division of Research, War Production Board, by applying relevant price series to the various categories of war expenditures.
Line 2.—Purchases from private industry comprised in this
series were deflated by the Bureau of Labor Statistics wholesale
price index for all commodities other than farm products and
foods. Government wages and salaries in real terms were obtained from an index of employment.
Line 3.—Each component of private capital formation was
deflated separately. The Federal Home Loan Bank Board
price index of a standard 6-room house was applied to residential
construction; E. H. Boeckh's index was used for commercial
and factory construction; W. M. Handy's index was used for
public utility construction; while farm construction was deflated
by a series from the Bureau of Agricultural Economics.
Each component of producers' durable equipment was deflated
by the use of a relevant series from the Bureau of Labor Statistics
compilation of wholesale prices. No attempt was made to correct the net change in foreign balance or the domestic output of
gold and silver for price changes. Business inventories are
deflated as one step in the process of obtaining the value of the
physical quantity change in terms of current prices.
Line 4-—The commodity component of this series was deflated
by a combination of the Bureau of Labor Statistics cost of living
index and the Department of Agriculture index of prices paid by
farmers for farm family maintenance. The two indexes were
weighted in accordance with the ratio of farm and urban family
expenditures shown in "Consumers Expenditures in the United
States."
The service component of the series was deflated by the service
items of the Bureau of Labor Statistics cost of living index.
Line 5.—Sum of lines 1 and 4 deflated as above.
industries. Since the extrapolation was by output series, Government purchases were deducted to obtain durable equipment
for private use. The data for making the 1942 extrapolation are
far short of adequate.
Line 11.—Represents net change in physical quantities at
current prices. Interpolation based on estimates of the Bureau
of Foreign and Domestic Commerce.
Line 12.—Based on monthly interpolations of Department of
Commerce annual figures prepared by Mr. Wendell Thome of
Federal Reserve Board. Excludes lend-lease exports and
products purchased and used abroad for support of the armed
forces.
Line 13.—Represents a combination of two series measuring
(a) net export of gold and silver and (b) net change in monetary
stock in current prices. When these series are combined the
balance represents gold and silver produced in United States
and used for monetary purposes plus (possibly) imported metal
used for nonmonetary purposes. This latter flow is believed
to have been negligible for the period covered.
Line 14-—Sum of lines 15 and 16. Represents the outlay of
consumers and of nonprofit institutions for consumption commodities.
Line 15.—Annual figures from April 1942 Survey of Current
Business adjusted for Government purchases and interpolated
by the Bureau of Foreign and Domestic Commerce's index of
retail sales of durable goods stores. In constructing the extrapolation into 1942 it was assumed that only 25 percent of
passenger-automobile sales were to consumers.
Line 16.—Annual estimates of the flow of nondurable goods
taken from April 1942 Survey, adjusted for Government purchases and interpolated by retail sales of nondurable goods stores.
Services based on an unpublished index prepared by the Bureau
of Foreign and Domestic Commerce.
As further work on
services is now in progress the series is not shown separately.
TABLES 4 AND 7
TABLES 3 AND 6
Line 1.—Sum of lines 2, 8, and 14.
Line 2.-—Sum of lines 4, 5, and 6.
Line 3.—Sum of lines 4 and 5.
Line $.—Daily Treasury Statement series of war activities plus
outlays of national-defense corporations as measured by change
in noncash assets and liabilities. Adjusted to exclude prepayments, offshore expenditures not appearing in United States
national income, and purchases of existing assets (land, ships,
etc.). These adjustments were based principally on monthly
data supplied by the Munitions Branch, Division of Research,
W. P. B. Latest available data indicate that the total adjustment for 1941 was a little too large, but revision has been
postponed until the data are more complete.
Line 5.—Daily Treasury Statement figures adjusted to exclude
items reported as expenditures which do not represent purchases
of goods or services.
Line t.—Annual figures from Treasury, Census, and private
sources. Interpolated by means of Census data on pay rolls and
Bureau of Forei^ . and Domestic Commerce estimates of construction by these Government agencies.
Line 7.—Sum of lines 8 and 14. Represents that part of the
value of current output not puichased by Government and therefore available to the civilian sector of the economy.
Line 8.—Sum of lines 9 through 13.
Line 9.—These quarterly figures were published in an article
in the May 1942 Survey of Current Business.
Line 10.—The interpolation for 1939-41 and the extrapolation
into 1942 was based on an index of durable goods output constructed by combining various production and pay-roll series
weighted by final cost estimates (Survey for April 1942). The
1942 figures were based entirely on production series and are
believed to contain no armaments manufactured in machinery
August 1942
These tables give the national income by quarters in the form
in which the data has been published annually for some years.
The quarterly figures first appeared in the June 1942 Survey
where statistical notes are available. It has been thought
most useful and convenient to include the income of military
personnel stationed abroad in the national income of the United
States. This implies a slight modification in the previous
definition of national income.
TABLES 5 AND 8
Line 1.—Quarterly figures as published in the June 1942
Survey.
Lines 2, 3, 4-—These lines contain the adjustments normally
made in passing from national income to income payments.
Transfer payments and employment taxes are available on a
monthly basis, corporate savings on a quarterly basis. Military
subsistence has been deducted from transfer payments so as not
to appear in disposable income.
Lines o, 6, 7.—Includes Federal income and State and local
income, property, poll, and license taxes and fees. Represents
all taxes paid by individuals from income not as part of price of
some product or service. Federal tax collections are available
on a quarterly basis. Quarterly interpolations of State and local
tax collections were made on a straight-line basis or according to
current collections of comparable Federal taxes.
Line 8.—Represents the balance of income payments to individuals after payment of taxes.
Line 9.—From line 14, tables 3 and 6.
Line 10.—Line 8 minus line 9. Although a residual, this series
has been checked against and found reasonably consistent with
an independent quarterly series prepared by the Securities and
Exchange Commission.
SURVEY OF CURRENT BUSINESS
August 1942
TABLE 9
Line 1.—Department of Commerce series as published in the
June 1942 Survey.
Line 2.—Includes all taxes collected from business enterprises,
distributed on a liability basis. Collections of indirect taxes
were lagged one month wherever monthly figures were available.
Interpolation of State and local taxes was made by utilizing
information regarding the movement of tax bases and current
collections of comparable Federal taxes. Income and excessprofits taxes were distributed in accordance with estimated net
profits after taxes on the basis of the Bureau of Foreign and
Domestic Commerce's sample of published corporation statements. For 1942 corporate tax yields were forecast from the
sample data using the rates of the Revenue Bill of 1942 as passed
by the House of Representatives. The liability for property
taxes was distributed along a straight line in the absence of
relevant interpolating series.
Line 8.—Includes the depreciation and depletion charges of
all business enterprises plus an estimate of depreciation on farm
property and on rented residences owned by individuals. Each
component of the total was interpolated separately on the basis
of its average relationship to some quarterly series. For example
depletion was distributed by means of the Federal Reserve index
of minerals production and business depreciation was spread by
means of the quarterly estimates of nonresidential construction.
The resulting series should be regarded as approximate only.
Line 4-—Includes bad debts and special emergency and con-
The Business Situation
(Continued from page 9)
Production Expanding.
Insofar as vegetable oils are concerned, there is
general agreement that the probable 1942 output from
domestic materials will be 3.9 billion pounds. It is
also generally accepted that total butter production in
1942 will be about 2.3 billion pounds. However,
differences of opinion regarding 1942 production arise
with respect to animal fats other than butter. The
Department of Commerce has estimated total lard
output from 2.75 to 3 billion pounds, depending upon
alternative policies which may or may not be adopted
by the War Production Board.
It likewise estimates the 1942 production of edible
tallow, oleo oil, and stearine at 390 million pounds,
again depending upon the full effect of a War Production
Board order requiring that additional beef fats be pulled
at packing plants rather than shipped out with the
carcass and later partially recovered by Tenderers'
collections from butcher shops.
Inedible tallow production is estimated at 1.85 billion
pounds. This estimate includes about 100 million
pounds as representing the possible results of the household grease salvage campaign.
At the time these estimates were made, it appeared
that if the above-mentioned policies were put into effect
and a Nation-wide salvage program instituted, total
domestic 1942 production of fats and oils would be
about 10.8 billion pounds. If the orders are not issued
and if the salvage campaign is not further stimulated,
production will probably be not much in excess of 10.3
17
tingency reserves. Bad debts were broken down by industry and
interpolated by means of sales or production series. Special
reserves were estimated from the corporate sample.
Line 5.—Interpolated by means of the quarterly movements
of the specific categories of producer's durable equipment which
include the items charged to current expense. The basic interpolating series are data on production, shipments, pay rolls, etc.
Line 6.—Represents the difference between business inventories as reported and the change in physical quantity of goods in
inventory translated into current dollars. Interpolations were
made on the basis of the Bureau of Foreign and Domestic
Commerce's book value indexes. The series must be regarded
as tentative and approximate at the present time.
Line 7.—This series contains all the differences between
quantity estimates of gross national product derived by adding
the series 2 through 6 to national income and gross national
product derived by adding consumer expenditures, private
capital formation, and Government expenditures. Discrepancies
between the two methods are almost inevitable (1) because the
combination of interpolated series based upon financial and
production data result in timing errors, and (2) because only
very inadequate materials are available for interpolating some
of the smaller components in both of the totals. Discrepancies
from rounding also contribute to this residual since the billion
dollar units in which the estimates were prepared are too rough
for certain of the smaller items.
Line 5.—From line 1, table 6.
Imports exceeded exports during the first 4 months of
1942, but it is expected that the situation will be reversed in view of the fact that Russia has only recentlybecome the recipient of large quantities of fats and oils
under lend lease.
The Food Requirements Committee has suggested a
formula for the allocation of fats and oils. A comparison of the quantities suggested for allocation under
this formula with estimated unrestricted consumption
indicates that the allocation formula would, if made
effective, not curtail usage by more than about 5 percent.
The 1942 supply-demand prospect may be summarized as follows, but the necessity for proper qualifications because of obvious uncertainties stemming from
war conditions should be kept in mind:
Fats and oils
(billion lbs.)
Factory and warehouse stocks, Jan. 1, 1942
1942 expected domestic production
Imports of oils and oil-bearing materials
Total supply.
Domestic disappearance expected in 1942
Exports
Stocks on hand, Dec. 31, 1942
Total demand
2. 4
10. 3
1.0
13. 7
10. 6
1. 4
1. 7
13. 7
Assuming that no effective steps to stimulate domestic
output are taken, that stocks are maintained, and that
the adjustment reserve is given over bo inedible uses,
it seems that there will be a 5 percent deficit of edible
fats and a 7 percent deficit of inedible fats. Supplies,
then, are not serious]}^ below the level necessary for
unrestricted use. The flow of goods to consumers will
probably bo sufficient to supply at least 95 percent of
their customary wants.
SURVEY OF CURRENT BUSINESS
18
August 1942
The Lumber Industry Under Wartime
Conditions
By Joseph L. Muller and Charles W. Slifko
control of mill lumber sales and
GOVERNMENT
deliveries, was partially established by the War
Production Board through Limitation Order L-121 in
May 1942. This was not a new experience for the
lumber industry. On October 25, 1918, 18 months
after the United States had entered World War I, the
War Industries Board issued a similar control order on
mill sales in order to assure an adequate supply of
lumber for military and essential purposes.
Lumber Production Declined During World War I.
The lumber industry reached its peak in the year
1909. The output of that year, 44 billion board feet,
has never since been equaled. The decade of 1910-19
was a period of decline with both production and consumption lower than in the previous decade. Residential construction followed a declining trend and the
era of substitutes for lumber had begun. Nevertheless
the markets for lumber were sufficiently extensive to
sustain average annual output for the decade at 37
billion feet. In 1916, the business boom generated by
Allied war orders lifted lumber output back to 40 billion
feet.
This high rate of production assured an adequate
supply when, after the entry of the United States into
the war, large quantities of lumber were required for
military purposes such as cantonment building, warehouse construction, and for ships and motor vehicles.
It is significant to note that when it was found necessary
to restrict mill sales and deliveries, it was also intended
to limit production. While Circular 54—the restrictive
order—was issued only 2 weeks before the war ended,
the following provision was contained therein: "Each
manufacturer . . . will, so far as is practicable, having
due regard to the production of lumber for direct war
uses, limit his production to the current demand
therefor . . . and will limit his items of production
for export to those covered by export licenses/'
Certain measures had been enacted prior to the
promulgation of Circular 54 for the purpose of reducing
lumber consumption in such established outlets as the
construction and furniture industries. From 1917 to
1918 lumber consumption recorded a decline of 4 billion
feet and in 1918 was at the lowest level of that decade.
As the data in table 1 show, production followed the
trend in consumption and was correspondingly reduced.
The various official measures which reduced the nonessential uses of lumber during World War I were not
based entirely on a lumber shortage. Important other
considerations were the conservation of equipment both
in the lumber producing and consuming industries and
the diversion of manpower to the armed forces or to
other essential industries. An equally important necessity for restricting lumber movement in nonmilitary
outlets was created by the transportation problem. It
was chiefly on the above grounds that the War Industries Board in 1918, intended, through Circular 54, to
impose further limitations on the production and use of
all lumber, both softwoods and hardwoods, except for
war and essential purposes. In addition, this step was
a corollary of the price policy. Maximum prices had
been set on principal species and one objective of sales
control was to diminish the force of competitive factors
in the price field.
Table 1.—Estimated Lumber Production and Consumption
1910-19
[Millions of board feet]
Year
1910.
1911
1912
1913...
1914
Production
Consumption
40,018
37,003
39,158
38, 387
37, 346
42, 965
40, 916
43,047
41, 738
39,155
Year
1915
1916
1917
1918
1919
Production
37,012
39, 807
35, 831
31, 890
34, 552
Consumption
37,
39,
35,
32,
34,
570
694
888
013
065
Source: U. S. Department of Commerce.
Lumber Shortages Exist Today.
In May 1942, about 6 months^after this Nation's
formal entrance into war; mill stocks had reached record
low levels and difficulties in procuring lumber for military purposes had reached a serious stage. Industry
was officially requested to expend every effort to increase production and Order L-121 was issued restricting mill shipments of those grades of softwood
construction lumber essential to the war program.
In the years of depression which preceded the present
conflict, lumber production and consumption had declined to comparatively low levels. Lumber demand
during that period was further adversely affected hj
strong competition from newly developed construction
and fabricating materials. The 3-year plunge of
national income from $83 billion in 1929 to $40 billion
in 1932, was accompanied by a drop of 70 percent in
lumber production (see table 2) and a 63 percent slump
in lumber consumption. In 1932 consumption was
more than 2 billion feet in excess of production, but
mill stocks, totaling nearly 9 billion feet at the beginning of that year, were entirely adequate to bridge the
excess of demand over output.
SURVEY OF CURRENT BUSINESS
August 1942
Table 2.—Lumber Supply and Demand, 1929-41
[Millions of board feet]
L u m b e r demsm d
L u m b e r supply
Year
1929
1930
19311932
1933
1934
1935
1936
1937
1938
1939
1940 . .
1941
.
Production
Imports
36, 886
26, 051
16, 523
10, 829
14, 696
15,494
19,539
24, 355
25, 997
21, 646
24,975
28, 934
32, 965
1,543
1,219
749
381
359
287
438
662
687
529
707
724
Total
38, 429
27, 270
17, 272
11,210
15, 055
15,781
19,977
25,017
26, 684
22,175
25,682
29, 658
0)
Consumption
Exports
32, 713
24, 227
17,410
11,968
13, 873
14,130
18,005
22, 351
23, 679
21, 546
25, 377
28,192
33, 683
3,094
2,271
1, 660
1,137
1,275
1,337
1, 301
1,272
1,414
947
1,050
853
(')
Total
35, 807
26, 498
19, 070
13,105
15,148
15,467
19, 306
23, 623
25,093
22, 493
26, 427
29, 045
1
Not available for publication.
Source: IT. S. Department of Commerce and the National Lumber Manufacturers'
Association.
Consumption exceeded production every year beginning with 1930 through 1933 but was less than output
from 1934 through 1937. Beginning with 1938 up to
the present time, consumption again has been in excess
of production, resulting in decreased stocks on hand,
until in 1942, as a result of war demands they have
reached exceptionally low levels. See table 6.
In recent years, as shown in table 3, there have been
striking changes in lumber consumption. During the
years 1929 through 1934, only 52 percent of all lumber
was consumed in building construction. Beginning in
1935, increasingly active construction has absorbed an
increasing proportion of all lumber consumed, reaching
nearly 70 percent in 1940. Preliminary estimates for
1941 and 1942 indicate at least 70 percent for both
years.
Exports which had remained constant around 8 to
9 percent of total demand from 1929 to 1934 (as shown
in table 3) were around 3 percent in 1941 and are
running less than 2 percent in 1942.
Table 3.—Estimated Apportionment of Lumber Consumption, 1929-40
[Millions of board feet]
Year
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941V
Building and Boxes and
Railroad
Industrial purchasing
Export
crating
construction
Total
(100
perPerPerPerPerPercent) Quan- cent Quan- cent Quan- cent Quan- cent Quan- cent
of
of
of
of
tity
of
tity total tity total tity total tity total
total
35,807
26,498
19,070
13,105
15,148
15,467
19,306
23, 623
25,093
22,493
26,427
29,045
18, 799
12,600
10,058
6,588
8,412
8,133
11, 427
14, 830
15,587
15,551
18,227
20, 283
23,991
52.50
47.55
52.74
50.27
55.53
52.58
59.19
62.78
62.02
69.13
68.97
69.83
4,645
4,038
3,358
2,578
2,549
2,661
2,928
3,193
3,288
2,845
3,137
3,381
3,868
12.97
15.24
17.61
19.67
16.83
17.21
15.17
13.52
13.10
12.65
11. 87
11.64
6,035
4,793
2,290
1,425
1,613
1,670
2,070
2,312
2,356
1,893
2,335
2,659
3,426
16.86
18.09
12.01
10.87
10.65
10.80
10.72
9.79
9.48
8.42
8.84
9.16
3.234 9.03 3,094 8.64
2,796 10.55 2,271 8.57
1,704 8.94 1,660 8.70
1,377 10.51 1,137 8.68
1,299 8.57 1,275 8.42
1,666 10.77 1,337 8.64
1,580 8.18 1,301 6.74
2,016 8.53 1,272 5.38
2,448 9.76 1,414 5.64
947 4.21
1,257 5.59
1,678 6.35 1,050 3.97
853 2.94
1,869 6.43
2,398
1
Preliminary estimate by U. S. Department of Commerce.
Source: Lumber Survey Committee Reports to U. S. Department of Commerce.
An average annual output of 20 billion feet during
1930 to 1939 (as shown in table 2) sufficed to meet the
total lumber demand. Production schedules therefore
19
had to be adjusted rapidly upward after the defense
program got under way in 1940. For on top of military
requirements and contrary to the World War I pattern,
industrial and construction demand for lumber expanded with war preparations during 1940-42 and
lumber was also called upon to compensate for shortages
which rapidly developed in other materials.
Although lumber production steadily increased during
the years 1939, 1940, and 1941, orders, nevertheless,
were in excess of output. The disparity between production and orders which existed during those years
was bridged by withdrawals from stocks, and mills were
therefore able to maintain shipments approximately at
the rate of orders. But the demand was heavily concentrated on a small number of species and special sizes
and grades. As a result, mill inventories at the end of
1941 were the lowest on record and badly assorted in
relation to the prevailing demand.
Continued complete dependence upon inventories to
fill the gap between output and orders has not been possible during 1942. Consequently, shortages in certain
items have developed. Lumber is now termed "critical.''
Nevertheless, the lumber industry has the machine
capacity and timber resources through which the requirements of the war program can be supplied. Production can be increased to a point equal with demand
by the removal of production handicaps and through
efficient procurement and use of the industry's output.
Labor must keep on the job, maintenance and repair
parts supplied, specifications liberalized, orders broadly
distributed, and buying coordinated.
The timber resources of this country are noted for
their abundance and variety of species suitable for
diverse uses. But timber stands cannot be logged to
obtain only those species in. greatest demand. Likewise in sawing lumber, all logs do not yield preferred
grades and sizes. As an economic necessity and as a
factor in efficient mill operation, alternate species,
grades, and sizes which satisfactorily serve the purpose
must be used, although they may not be the most
desirable.
War Has Created Heavy Lumber Demand.
The outbreak of war in Europe in September 1939,
as previously indicated, brought a sharp acceleration
in lumber demand. A buying movement on the part
of lumber dealers w^as set off immediately but, as it
proved to be chiefly in anticipation of a large export
demand, it subsided within two months. The demand,
however, was sufficiently strong to effect an advance
for the industry. Lumber production in 1939 totaled
24,975 million feet, a 15 percent increase over 1938.
Demand totaled 26,427 million feet as compared with
22,943 million feet in 1938.
While orders placed at mills in 1939 reached the
peak of the year as a result of forward buying, lumber
demand was basically strengthened by increased construction activity. The Department of Labor's building indexes, based on permit valuations, were the
20
SURVEY OF CURRENT BUSINESS
highest since 1930 for total building and for new
residential construction. Similarly, the F. W. Dodge
Corporation reported a 10-year high valuation in
contracts awarded for residential building and for
total construction. It is significant that the construction industry accounted for 68 percent of the nearly
4 billion feet gain in lumber consumption in 1939 over
the previous year.
Lumber demand was further expanded in the iollowing year under the impetus of this Nation's warpreparedness program. Construction of Army cantonments and camps was superimposed upon an accelerated program of defense housing and highly active
residential building. Special defense requirements such
as shipyard lumber and timbers and increased industrial
demand contributed to the rise in the volume of orders
placed with mills. As a result, orders in 1940 exceeded
30 billion feet for the first time in a decade. (The
extent to which expanded construction activity contributed to the increased lumber demand is shown in
table 3.) While total lumber consumption was 2.6
billion feet higher than in 1939, 94 percent of the
increase was the result of construction demands.
At the same time, the recovery of durable goods industries was an important factor in the lumber demand.
Wood-using industries shared in the recovery to the
extent that in 1940 lumber used in the manufacture of
various products increased nearly 100 percent since the
depression years. (The data showing the break-down
of industrial consumption for 1940 are the latest available, and are shown in table 4.)
The flow of orders to the mills increased rapidly
during 1941 with the intensification of this country's
military preparedness program. Lumber purchases by
the important wood-using industries such as mill work,
flooring, and furniture continued to increase in line
with the record construction activity. Other industrial
purchasing, principally by the railroads and the container industries, was expanding. But the lumber requirements for direct war purposes—cantonments, shipbuilding, airdromes, defense housing—reached such
proportions by the middle of the year that in most
instances 90 percent of orders placed with mills were
connected with war projects.
Shortages in certain lumber items were already evident in the late months of 1941 when the Supplies
Priorities and Allocations Board issued the L-41 order
curtailing ''noncssentiaP' construetion. Lumber demand eased noticeably following this action, but since its
character was largely determined by military requirements, mill orders remained above 2 billion feet per
month. The total volume of new business booked
during the year exceeded 34 billion feet, which was only
slightly below the levels of 1929.
The current phase of heavy lumber demand was
initiated with our active entrance into the war and it
August 1942
can be fairly said that this phase is without parallel in
the history of the industry. Lumber requirements for
military construction were made forcefully apparent
with the purchase during January by the Army alone
of nearly 1 billion feet solely for the construction of
cantonments.
In addition to the billions of board feet needed for
housing the Army and for numerous other projects such
as housing for industrial workers, off-shore bases,
airdromes, and warehouses, there were added the
requirements for trucks, bunks, boats, ships, and other
essential items as boxes and crates. A series of War
Production Board orders have been issued which halted
or drastically curtailed the use of metals in many fields.
These orders affect a long list of articles for homes,
farms, factories, and offices including domestic refrigerators and furniture, implement handles, window frames,
and office furniture. For the manufacture of those and
many other products wood is the prime replacement
material. In May when mill sales of softwood construction lumber were restricted, the monthly rate of
orders indicated a demand of about 38 billion feet for
the year 1942.
Table 4.—~ Lumber Used for Selected Products andl Total
Lumber Used in Manufacture, 1928, 1933, 1940
[Millions of board feet]
Products
1928
Boxes, baskets, crates 2
Car construction and repairs
Furniture
Millwork
1933
1940
4,981
1,009
1,364
3,317
2,356
332
747
573
3,206
548
1, 422
1,823
Total of principal comparable products.
10, 672
4,007
6,998
Agricultural implements
Airplanes
Boot and shoe findings
Boxes, cigar and tobacco
Caskets and burial boxes
Dairy, poultry, apiarists' supplies
Firearms
Handles
.L a u n d r y appliances
Matches
Musical instruments
Pencils and penholders
Playground equipment
Plumbers' woodwork
Professional and scientific instruments
Rollers, m a p and shade
.
Sewing machines
Ship and boat building
Shuttles, spools, bobbins
.
Sporting and athletic goods-. _. . . . . _ Toys
...
Vehicles, motor
. ...
Vehicles, nonmotor
_ ._ .
Woodenware and novelties
..
Other comparable products
143
9
49
38
156
41
2
125
39
116
103
40
5
16
16
24
13
128
44
30
39
868
81
142
692
18
42
37
29
126
30
4
116
24
85
9
14
2
5
4
7
5
36
30
8
21
202
15
60
248
89
13
159
60
2
226
46
82
30
30
Total of minor comparable products
Total comparable products
4
Total used in manufacture
s
s
9
2o
13
90
57
34
58
125
22
127
565
2,963
1,126
1,925
13, 635
5,133
8,923
18, 098
6,112
12, 005
1
Includes lumber, veneer and plywood, and logs and bolts.
2
The figures for boxes include wood used by commercial box, basket and crate
factories and by the wood-using industries for boxing, crating, and dunnage.
s Less than 500,000 board feet.
4
The comparable total includes all products except planing mill products for 1928,
and flooring and lumber for shipping by non-wood-using industries for 1933 and 1940 .
Handicaps Retarding Production.
Lumber production has been substantially increased
under the impact of the consistently heavy demand. In
August 1942
21
SURVEY OF CURRENT BUSINESS
1941 the total volume of reported output was slightly
under 33 billion board feet. This was the largest volume
since 1929 and a 32 percent increase in comparison with
1939 production.
All major producing regions, both softwoods and
hardwoods, contributed to the advance. It is significant to note, however, that more than half of the production was accounted for by about one-fourth of the
mills in operation. Production also has been augmented by a large number of small mills which came
into operation, especially in the South, as a result of
expanded market opportunities. The combined 1941
volume produced in the Southern pine and in the West
Coast (principally Douglas fir) regions showed a 35
percent increase since 1939. These two regions are the
principal sources of softwood "construction" lumber
accorded to the industry for the procurement of
maintenance and repair parts has not been sufficiently
effective. Tires, tractors, cables, saws, and other equipment are vitally necessary.
Table 5.—Monthly Turn-Over of Workers in Sawmills
[Rates are per 100 employees]
Separation rates
Date
Quit
February 1942
March 1942...
April 1942
4.31
5.60
7.46
Total
separation
7.53
8.86
10.39
Accession rates
New
hire
5.36
6.47
8.54
Total
accession
7.21
8.36
10.48
Source: U. S. Department of Labor.
As the importance of attaining maximum production
became
patent, the War Production Board announced
Figure 6.—Lumber Production and New Orders 1
in June that a liberalized policy of priority assistance
BILLIONS OF BOARD FEET
would be instituted and steps taken to stabilize labor
supply. The extent to which these current problems
can be resolved will determine, to a large degree, the
ability of the industry to achieve maximum production.
The productive machine capacity is close to 40 billion
board feet annually. The number of mills in operation
according to the most recent (1940) Bureau of Census
report was 19,591. In 1926, when 36.9 billion feet of
lumber production was recorded, there were 15,241
mills. Timber resources are adequate. Although they
are not as readily accessible as formerly, modern
equipment such as tractors and huge logging trucks
1941
1940
1942
reduce
the difficulties.
1
Includes only principal regions for which data are available for both production
It
may
be noted that in 1941 when lumber producand new orders.
tion
reached
33 billion feet, there were 286 strikes in
Source: National Lumber Manufacturers' Association.
the lumber and allied products industries (includes furand their combined output represented 69 percent of the niture and planing mills) which accounted for a loss of
1941 softwood total.
over 1 million man-days of operation. On the other
Production in the first 6 months of 1942 was 5 percent hand, at the peak of 1941 lumber production, a monthly
less than in the comparable period of 1941. The dis- output of over 3 billion feet was attained when extenparity increased between production and new orders. sive overtime operations were instituted, principally on
(The relationship since 1940 of production to orders is the West Coast. However, it is not possible to produce
38 billion feet of lumber to match estimated requireshown in figure 6.)
Prolonged periods of unfavorable weather in the ments this year. Barring labor troubles and given
Pacific Northwest and in the South have been partly adequate assistance in securing repair parts and
responsible for this reduced production, but other equipment, production in the last 6 months of this
problems have developed which accentuated the year can be increased. But to reach 38 billion feet
production-demand disparity.
The diversion of for the entire year would require more than a 50
workers to the aimed forces and to other war industries percent gain over the volume produced in the first half.
interfered with sustained operations. Labor turn-over
in the logging camps and sawmills has been much higher Mill Stock Reduced to Meet Demand.
than in most manufacturing industries. (The rate of
Though the increase in production since 1939 has not
turn-over is shown in table 5.) While replacements been achieved as rapidly as the expansion in the lumber
have been generally obtained, loss of productivity has demand, mills have until this year maintained shipnevertheless resulted. New help lacks the "know ments nearly at the levels of incoming orders by withhow/' not easily acquired, of experienced woods and drawals from stocks. At the end of 1938, mill stocks
mill workers.
totaled 8.6 billion feet. With almost steady reducAt the same time, equipment problems have become tions in the following years, the volume of inventories
more serious. The A-10 priority which has been declined 2.3 billion feet by the end of 1941.
SURVEY OF CURRENT BUSINESS
22
The 6.3 billion feet of mill stocks available at the
beginning of this year were equal to better than a 2
months' supply. But it must be kept in mind that the
prevailing demand is running heavily to certain species,
sizes, and grades. Shipments continued in excess of
production during the first six months but averaged 8
percent less than new orders. Consequently, stocks
declined further and unfilled orders increased. On
July 1, mill stocks totaled 4.9 billion feet of which 69
percent was covered by unfilled orders; unsold stocks
totaled 1.5 billion feet. (The trend of production,
shipments, and stocks since 1940 is indicated in table 6.)
Table 6.—Total Reported Lumber Production, Shipments,
and Mill Stocks, by Quarters, 1940-42
[Millions of board feet]
Production
Stocks (end of
quarter)
Shipments
Date
First quarter
Second quarter
Third quarter
Fourth quarter
Year
1942
1941 1940
1942
1941
6, 966
8,138
9, 400
7, 500
7, 521
8, 441
9, 015
7,988
7,737
9,088
9,500
8,000|
7,729
8,456
9,367
7,967
6,101
7,269
7, 765
7,799
19401942
6,149
7, 255
8, 243
8,448
5, 595
4,900
4.800
4, 300
1941
1940
imposed on residential housing. This problem was at
one time particularly acute on the west coast when as
a result of the lack of intercoastal water transportation,
the usual outlets for this lumber could be reached only
by the more expensive rail facilities.
Lumber prices also reflected the increased cost of
stumpage (logs). In some instances these increases
were reported to be as high as 100 percent. On the
west coast, one of the major softwood regions, log prices
noticeably increased as a result of a tight supply position and the intense competition between the major
log consumers.
A further important factor in the price picture was
the increased cost of labor. In July 1941 labor in the
Northwest region was granted wage increases. Minimum wage rates were also established for the entire
Figure 7.—Index of Wholesale Prices of Construction
Lumber
1926 = 100
140
6,557 7,616
6, 650 7, 666
6,294 7, 253
6, 348 6, 753
32. 004 32, 96528, 934 34, 325 33, 519 30, 095
NOTE.—Second Quarter 1942 preliminary.
Source: Reports of regional associations to the National Lumber Manufacturers'
Association. Third and fourth quarter 1942 estimates by U. S. Department of
Commerce.
Lumber prices have increased sharply since the beginning of this war. From 1939 up to the time that
the first of the price ceilings was established in September 1941, an advance of 31 percent had been recorded in the Department of Labor's wholesale price
index of construction lumber. In general, the upward
trend of lumber prices was most pronounced in the
periods of greatest inventory declines. But prices
were also affected by competitive buying and by increased production costs.
The steepest price advance was initiated in September
1940, when the defense construction program was superimposed upon an already strong lumber market. Correction of Government buying methods, the creation
by the Army of a lumber "stock pile/' admonitions
by the Price Stabilization Division of the Office of Production Management, and the prospects of a weakened
construction demand through official restrictions on
"nonessential" construction brought about a stabilization of prices at the close of 1940 and for several months
of 1941. In the middle of 1941 the lorward price movement was resumed and currently the price index is at
the highest level since 1920 and above that which
prevailed during World War I.
The demand for special grades and sizes for direct
military purposes created a problem with a direct bearing on production cost. In cutting such items, sawmills unavoidably accumulated stocks of other cuts
from the balance of the log. Disposal of such stock
was
noticeably difficult as more stringent curbs were
http://fraser.stlouisfed.org/
J
120
100
Lumber Prices Increase.
Federal Reserve Bank of St. Louis
August 1942
8 0
A
' \
MI1 M
M ll
I . 1 MMM MI IM M
. M
1937
III
111
| ,, M
, M
1
l I1 , I , M I I ,
I M I 1I
1938
1939
I,
1940
r
i
1941
< * -
.....In...
1942
O.O. 42-31?
Source: U. S. Department of Labor.
lumber industry on November 3, 1941; these rates
directly increased the wages of over 200,000 workers
employed principally in the Southern States.
The almost steady rise in lumber prices resulted in
the establishment of maximum or "ceiling" prices by
the Office of Price Administration. A schedule for
southern pine lumber, one of the principal softwoods,
was the first to be issued (September 5, 1941). Shortly
thereafter a maximum price was established for Douglas fir, and subsequently on additional species including
hardwoods. While the general trend of prices continued upward after the ceilings were set, this was due
to the rise in items not then covered. The increase in
the price index since the ceilings were established has
been about 2 percent.
(The course of the lumber price movement immediately preceding and since the war is shown infig.7.)
Exports Decline Sharply, Imports Increase.
War conditions have caused a sharp decline in lumber
exports. Thus the pattern of export movement during
World War I has been repeated. As can be seen in
figure 3, the 1941 export volume was the lowest in
more than forty years. The rate of exports in the
first four months of 1942 indicate a further reduction of about 30 percent in the present year. Lend-
August 1942
SURVEY OF CURRENT BUSINESS
23
Lumber production in recent months has been trending upward and it is possible that the output of last
year can be equaled. Production, however, cannot
be increased sufficiently during the remaining months
of 1942 to meet both military and civilian requirements estimated at 38 billion board feet. The deficit
will require additional withdrawals from stocks.
The lumber industry is very seasonal. Winter
Figure 8.—Domestic Exports of Lumber \
months
are unfavorable to logging and saw mill operaBILLIONS OF BOARD FEET
4
tions. Production, therefore, during the third quarter
of the year, will probably increase but will unavoidably
decline during the fourth quarter as snow and rain
hamper operations and mills shut down for repairs.
Disregarding seasonal influences, other factors, cited
above—the loss of workers to the armed forces, the
growing scarcity of manpower, and increasing difficulties
in getting replacement parts—are also operating effectively to reduce output. The Government is assisting,
as far as possible, to reduce these difficulties by granting
deferment to ke}^ men, disapproval of labor "pirating,"
1910 'II '12 '13 '14 '15 '16 '17 '18'19 '20'2i '22'23'24*25'26'27'28'29'30*31 *32*33'34*35*36 37 38 39 40 '41
and by higher priority ratings for urgently needed oper1
ating equipment. Constructive action of this type,
Data include sawed timber and boards, planks, and scantlings; data for 1941 are
not available for publication.
however, is definitely limited. It seems most likely,
Source: U. S. Department of Commerce.
in view of current developments, that lumber producwith 1938 was over 150 percent. Moreover, the vol- tion, after the third quarter, will continue for the balume of imports exceeded the export volume by 134 ance of the year and during 1943 at lower levels than in
percent, recording for the first time in this Nation's comparative periods of 1941 and 1942.
lumber history, an import volume greater than exports.
Although approximately a 10 percent decline is
expected in 1943 production, it will be accompanied by
Outlook for Remainder of 1942
an estimated reduction of almost 7 percent in lumber
War construction plans and programs are being ex- requirements. Clearly the supply-demand position of
panded and accelerated in order to satisfy both military the lumber industry shows no prospect of improvement
and civilian needs. Military requirements can be met in the near future. Efficient and conservative use of
and civilian needs partially filled by sustained produc- lumber is essential. Increased use of alternative species,
tion, if procurement difficulties can be overcome and grades and sizes, and advance notice of orders and
if sufficient information is given in advance to the lum- specifications will materially assist mills in meeting
ber industry so that cutting schedules can be adjusted. wartime needs.
Lease shipments remain as the only important factor
in the current trade. And it is certain that the recovery
of export markets will have to wait on a future period
of reconstruction.
The expanded wartime markets in the United States
are reflected in the steady, and substantial, increase in
lumber imports. The increase in 1941 as compared
1
1
>
l
24
SURVEY OF CURRENT BUSINESS
August 1942
NEW OR REVISED SERIES
Table 15.—ESTIMATED SALES OF ALL RETAIL STORES BY KINDS OF BUSINESS
l
[Millions of dollars]
By kinds of business
January...
February
March
April
May
June
July
August
September
October
November
December
Total
Nondurable
goods
stores
All
retail
stores
Year and month
1935
651
634
689
686
719
695
695
704
671
722
728
768
25, 165
32, 791
Monthly averagef I
Total
Monthly average
1937
January
...
February
March
April
May
June
July
August
S eptem ber
October
November
December
Total
Monthly average
1938
Total
•_..
Monthly average
769
Z, 47 Z
824
1 021
768
2, 704
2,494
3,109
38, 408
9 794
28, 614
3,088
3,201
816
2, 385
257
2,899
2,818
3,621
3,642
3,829
3,715
3,536
3,471
3, 586
3,673
3,418
3,940
675
672
979
044
115
080
010
979
862
855
799
812
2, 224
2, 146
2, 642
2, 597
2,714
2, 635
2, 526
2,492
2,724
2,818
2.618
3,128
42,148
10, 882
31,266
3, 512
907
2,606
566
551
737
766
794
771
719
748
683
748
919
2, 226
2, 083
2,438
2, 563
2,453
2 465
2,312
2. 395
2 544
2, 675
2, 598
3. 221
8, 811
29, 973
1
1
1
1
3, 232
1
•'
,
!
!
'
;
201
202
243
263
265
262
249
257
251
275
276
317
3,060
., 730 !
1, 624
9,208
1, 381
767
576 i
864 I
3, 320
2, 687
6, G80
1, 500
125
268 !
259 1
.543 !
3,091 I
II
2, 241
2,139
2, 573
2. 610
2,700
2,628
2.448
2. 558
2,788
2,824
2,778
3, 376
213
188
267
291
278
256
194
219
296
314
299
444
10, 376
31,663
3, 259
10,165
865
2 639
2"2
847
.
For footnotes see p. 25.
5,498
258 I
1939
Monthly average
70
80
91
112
122
112
101
112
106
124
116
144
115
117
145
159
173
178
196
199
178
184
169
156
236
232
279
305
319
322
304
300
310
333
319
399
2,512
2,466
2,954
3,227
3, 364
3,386
3,195
3,143
3,241
3, 472
3, 318
4,130
38, 784
General Household
Other
Filling
merretail
stations chandise furnishings
stores
stores
stores
478 !
SO 7
8, 362
1, 864
2, 656
2,733
1936]
J an uary
February
March
April
May
June
July
August
September...
October
November
December
Total
Building
Eating j
mateand
Food
rials and Drug
stores drinking stores
hardware
places
dealers
August 1942
SURVEY OF CURRENT BUSINESS
25
Table 15.—ESTIMATED SALES OF ALL RETAIL STORES BY KINDS OF BUSINESS '—Continued
[Millions of dollars]
By kinds of business
AH
retail
stores
Year and month
Durable Nondurable
goods
goods
stores
stores
Apparel
stores
Automotive
stores
Building
materials and
hardware
dealers
Drug
stores
Eating
and
drinking
places
GenHouseeral
hold
Filling
merfurstations chandise nisliiings
stores
stores
Food
stores
Other
retail
stores
1910
January
February
March
April
May
June
July
August
September
October
November..
December
3,188
3,114
3,696
3,762
3,974
3,883
3,643
3,758
3, 673
4,143
4,108
4,752
758
765
958
1,072
1,128
1,117
1,044
959
888
1,139
1,106
1,221
227
201
299
260
284
271
204
252
298
321
334
461
450
450
588
633
635
655
608
490
431
629
629
620
170
170
210
256
284
269
265
270
270
300
262
263
129
127
135
129
135
133
135
138
134
138
136
181
280
310
296
306
297
301
326
320
332
319
346
Total
45,694
12,157
3,413
i,819
2,987
1,650
3,808
1,013
284
568
249
138
3, 635
3,538
4,214
4,626
4,930
4,606
4, 509
4, 638
4,480
4,675
4, 534
5,473
1,008
1,254
1,441
1,590
1,477
1,383
1,259
1,062
1,128
1,067
1,237
251
219
296
365
348
300
253
334
393
387
388
557
590
635
810
893
972
891
804
617
445
528
518
522
213
200
247
314
343
339
346
353
360
366
312
331
142
133
144
144
155
149
155
159
158
156
159
211
318
309
344
341
356
344
355
383
383
393
384
Total..
53, 858
14,875
38,983
4,092
8, 226
3,722
Monthly average,..
4, 488
1,240
3,249
341
686
310
Monthly average ._
856
837
893
881
924
887
896
919
856
920
930
208
195
228
241
263
276
269
289
262
268
247
237
426
418
523
527
562
541
453
524
571
635
654
958
3,721
10, 764
2,982
6,791
310
897
249
566
161
386
875
975
984
1,053
997
1, 050
1,063
1, 052
1,125
1,090
1,218
226
212
249
276
314
311
342
349
322
318
289
290
459
449
552
636
654
601
549
661
706
724
735
1,106
137
146
168
201
232
203
197
245
202
200
194
261
359
429
473
504
470
459
473
458
478
465
568
4,319
12,411
3,500
7,830
2,387
5,507
360
1, 034
292
653
199
459
321
313
374
380
402
393
368
380
372
421
419
489
114
124
136
158
179
161
145
169
158
179
179
233
1, 934
4, 633
1941
January
February
March _"
April
May
June......
July
August
September
October
November.. _
December
_
....
.__
_.._
2, 666
2,530
2, 960
3,185
3,341
3,128
3,126
3,380
3,418
3, 547
3,466
4,236
1
New series. Estimates compiled by the U. S. Department of Commerce, Bureau of Foreign and Domestic Commerce. For a description of the data and indexes of sales,
see pp. 18-25 of the October 1911 Survey. For data for 1942, see p. S-6 of this issue.
Table 16.—DEPARTMENT STORE SALES—RICHMOND FEDERAL RESERVE DISTRICT l
[1935-39 = 100]
1923
Month
1924 1925 1926 1927 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941
Without adjustment for seasonal variations
January
February
March
April.
May
June
July
August,
September
October
November
December
69
67
103
90
98
100
72
78
88
114
112
163
Monthly average
170
75
76
98
105
99
95
75
79
89
130
115
180
81
79
107
104
109
98
79
82
94
124
123
186
80
79
101
113
106
99
79
93
99
122
124
194
81
83
113
103
109
100
79
82
104
125
126
194
82
80
122
103
109
102
78
86
103
128
125
195
77
80
99
113
112
94
72
76
93
126
109
174
72
73
100
101
98
93
66
68
83
107
90
153
57
61
79
76
76
67
47
50
72
85
76
118
47
47
56
70
72
64
47
61
74
88
80
133
56
55
93
74
88
80
56
67
79
104
94
156
59
59
84
90
88
83
64
71
88
109
103
166
64
66
88
96
101
94
75
77
98
128
112
192
71
73
114
98
110
102
75
79
111
128
112
194
72
72
96
105
94
92
70
78
105
120
108
197
70
71
104
101
107
98
71
84
112
124
122
208
77
80
115
106
120
110
85
104
128
146
144
227
97
101
106
107
108
109
102
92
72
70
84
89
99
106
101
106
120
83
86
91
86
84
90
90
90
90
89
94
92
90
92
95
92
101
98
106
101
96
104
107
103
105
106
103
104
110
107
107
105
109
108
102
104
106
105
101
100
94
96
102
99
102
101
99
105
104
103
103
106
103
103
105
106
110
104
111
116
110
112
109
113
116
120
121
132
131
119
132
127
77
75
91
104
100
94
71
71
94
m
111
90
91
125
143
148
127
109
140
154
165
168
265
Adjusted for seasonal variations
91
91
93
99
95
106
101
96
I 99
94
| 98
I 96
January
February
March
April
May
June,.
Juh
uly.
August
September
October
November
December
1
100
98
99
99
96
103
96
91
101
92
100
96
99
103
105
100
99
100
101
101
97
109
104
102
110
106
105
103
109
104
106
104
102
108
107
105
109
107
106
106
106
105
109
113
106
107
108
110
110
107
106
107
106
106
113
108
116
103
110
m
109
107
111
109
106
114
109
114
116
105
110
113
104
108
103
107
108
104
99
104
100
103
99
97
97
98
99
101
98
99
91
93
89
88
82
85
82
81
71
79
75
72
69
67
71
72
67
66
68
67
58
70
69
67
69
77
73
75
73
75
79
79
83
83
85
84
86
84
81
85
8G
88
128
132
135
137
142
138
154
185
151
134
160
142
Revised series compiled b y the Federal Reserve Bank of Richmond based on sales data of a sample group of department stores in this District. T h e present sample comprises 79 stores. T h e n u m b e r of reporting stores has varied considerably over the period 1923 to date. Beginning in 1923 the sales figures have been chained together for each
state of the District to secure comparability with the latest data. State figures were placed on an average daily basis adjusted for seasonal variation and converted to t h e
base 1935-39=100. I n constructing the District index the state indexes were "combined b y weighting each state b y its relative importance according to Distribution Censuses.
For 1942 data see p . S-7 of this issue.
473815—42
4
SURVEY OF CURRENT BUSINESS
26
Table
August 1942
17.—DEPARTMENT STORE SALES—SAN FRANCISCO FEDERAL RESERVE DISTRICT1
[1935-39-100]
1920
1921
1922 I 1923 I 1924
1925
192G
Month
1927 | 1928 ! 1929 | 1930 | 1931 | 1932
193? I 1938 | 1939 j ti»40 1941
1933
Without adjustment for seasonal variatio
January
February
March
April
May
June
July
August
September
October
November
December
96 i 92 !
93 |
93
103
98 I
102
106 :
1 1 1 ' 104 '
100
9(1
90
X4
101
94
115
104
117
106
121
106
193
167
X4
83
94
98
98
87
78
85
93
92
93
139
;
71
74
85
93
93
94
87
92
109
109
109
178
68 ;
68 I
i
\
51
67
l
70 i 68
; 65 : 63
; 55 i
60
; 64 I
67
i 71 i 73
I 74 ! 71
! 66 | 70
109 ' 125
Monthly average
71
82
83
84
141
79
91
97
97
156
80 i
84 I
79
78
86
98
98
92
89 i 83
93
98
104
112
113
111
175
178
101
97 I
no !
86 I 100 I 105 i
71 |
82
86
95
105
103
99
90
87 j
! 90 j
I 106 !
I 105 |
111
i 106
: 98 •
9 9 j 110 i
114
125 i
119 ! 122 |
116 ! 131 I
198 ; 211
99
103
]16
128
129
126
120
154
156
145
158
235
100 109 | 117
139
106 j
128
131
130
132
134
136
144
168
149
138
151
138
Adjusted for seasonal variations
January
February
March,/
April
May
June- - July
August
September
October
November
December
55
61
63
63
60
67
69
69
73
72
73
76
82
81
76
78
80
78
78
83
82
84
83
84
84
80
80
80
75
76
75
74
76
73
72
7?
73
73
74
75
79
76
77
77
77
82
S3
84
83
87
89
90
91
90
95
92
91
94
92
95
95
94
93
91
91
92
91
93
91
93
93
93
93
96
97
98
99
99
101
99
100
100
104
100
101
101
105
105
104
106
104
106
107
104
105
110
105
105
108
107
108
107
106
108
108
105
109
106
108
109
105
113
109
107
111
111
110
112
109
112
113 : 110 i
111 | 112 !
109 i
111 I
114
111
112
110
113
114
114
115
j
|
!
!
!
!
101 I
99 j
ioo j
no ! 103 !
108
106
107 !
104
103 ;
103 5
102 |
101 !
99 l
ioo
97
95
92
91
87
88
82
83
81
78
75
73
72
68
69
69
91
93
95 |
95
96
101
103
100
103
103
102
104
!
!
|
|
"1 i
63 |
70 ;
6
<
66 i
103
106
109
106
108
107
107
105
106
107
105
104
103
99
97
100
102
100
100
101
94
98
108
100
113 !
108 i 114 j
105
114 I
110
113 !
107
114 I
108
114 i
108
118 I
108
119 I
109
120 j
113
116 I
110
125
116
123
1
Revised series. Compiled by the Federal Reserve Bank of San Francisco. The revision entailed the inclusion of data from about 50 additional national chain stores and
a number of larger independent department stores in areas heretofore underrepresented, a change of base from 1923-25 to 1935-39, bringing seasonal factors up to date, and the
introduction of several technical improvements in the series. Monthly dollar estimates of total department store trade were computed for each community for which reports
were available by adjusting data for reporting stores to levels indicated by Census data. The estimated monthly sales for each community were reduced to a daily average
basis by dividing by the number of trading days, with allowance in the case of major city series for differences in the relative importance of each day in the week. Daily averages for metropolitan areas, regions, and the district as a whole were obtained by aggregating the proper city series, usually with additional weighting to account for trade of
nonreporting cities. Daily averages for all cities and areas were then expressed as percentages of the 1935-39 daily average. Seasonal factors for each city and area were computed according to the method outlined in the Federal Reserve Bulletin for June 1941. The method used in determining adjustments for the changing date of Easter is described in the Federal Reserve Bulletin for April 1928. Seasonally adjusted indexes for the district were computed by combining seasonally adjusted daily averages for the
cities or sub-areas included and proceeding as with unadjusted indexes. For 1912 data, see p. S-7 of this issue.
Table 18.—DEPARTMENT STORE SALES—PHILADELPHIA FEDERAL RESERVE DISTRICT 1
[1935-39 = 100]
1934
1935
1936
1937
1938
79
82
105
98
113
105
74
77
108
125
129
185
74
77
83
1939
1940 j 1941
Month
Without adjustment for seasonal variations
January
February...
March
April
May
June
July
August
September-.
October
November-
121
127
140 j
132
142
148
110
119
122
160
is;
December
241
Monthly average-
146 I
127
134
128
150
138
141
107
117
120
149
179
239
121
127
131
145
139
139
105
117
120
169
188
246
68
72
94
98
105
100
73
78
101
122
130
194
144
93
103 I 107 I
92
85
88
64
66
96
109
118
183
95 !
70
74
74
93
97
101
94
67
71
109
116
137
199
99
94
107
105
71
86
115
126
144
213
76
80
90
106
126
124
117
89
115
134
136
168
238
102
Adjusted for seasonal variations
January...
February,
March
April
May
June
July..
August
September
October
November
December
1
. .
.
.
138
142
150
141
146
155
145
147
147
148
I 146
j 144
145
150
150
148
142
148
141
145
143
137
141
142
140
144
148
148
143
146
138
147
141
153
149
144
156
147
150
143
158
145
150
149
150
151
146
148
147
144
144
144
142
143
145
149
138
138
142
141
130
131
142
131
135
136
142
127
146
134
132
142
137
135
145
130
132
139
132
138
143
141
134
139
136 i 121 102
135
124
101
131
122
89
128
120
100
128
116
92
123
116
86
118
107
81
124
107
78
123
104
79
129
101
87
125
101
80
119
100
78
79
77
74
84
82
82
83
90
90
86
82
84
85
83
94
91
94
93
89
93
88
90
87
92
88
87
99
87
89
95
93
95
96
92
96
97
93
96
103
98
104
102
105
107
102
105
107
106
108
108
109
104
114
109
108
105
108
107
104
100
104
102
103
104
108
110
107
117
110
111
113
112
121
118
133
126
123
135
114
127
155
125
119
132
Revised series. Compiled by the Federal Reserve Bank of Philadelphia based on daily average sales of a sample group of department stores in the Twelfth Federal Reserve
District. The sample now comprises 73 stores, including branches of national chains. The revision involved changing the has 3 from 1923-25 to 1935-39=100 and a recomputation of the seasonal factors. Data for 1942 are shown on p. S-7 of this issue.
S-l
SURVEY OF CURRENT BUSINESS
August 1942
Monthly Business Statistics
The data here are a continuation of the statistics published in the 1940 Supplement to the SURVEY OF CURRENT BUSINESS.
That volume contains monthly data for the years 1936 to 1939, and monthly averages for earlier years back to 1913 insofar as
available; it also provides a description of each series and references to sources of monthly figures prior to 1936. Series added or
revised since publication of the 1940 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 term "unadjusted" and "adjusted" used to
designate index numbers refer to adjustment of monthly figures for seasonal variations.
Data subsequent to June for selected series will be found in the Weekly Supplement to the Survey.
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
May
BUSINESS INDEXES
INCOME PAYMENTS!
Indexes, adjusted:
Total income payments
1935-39=100.
Salaries and wages.
_.
..do
Total nonagricultural income
-do
Total
mil. of dol
Salaries and wages:
Total
do
Commodity-producing industries..do
Distributive industries
do
Service industries
do
Government..
do
Work-relief wages
do
Direct and other relief
...
do
Social-security benefits and other labor income
mil. of dol_.
Dividends and interest.. - . .
do
Entrepreneurial income and net rents and
royalties--.-. .
mil. of dol. _
Total nonagrieultural income
do
v
v
v
v
165. 4
179. 9
163. 0
9, 537
137.0
146.0
137.9
7,937
138. 9
147.6
139.2
7, 739
141.1
149. 3
140.7
7,518
143.1
150.1
141.3
8,280
145.4
152.6
143. 5
8,508
146. 6
153.7
144.5
8.071
154.7
161. 5
150. 3
9,397
155 7
163.2
152.0
8,424
156.9
166. 0
153. 9
7,98;
158.4
168. 6
156. 0
p 6, 470
v 2, 974
5, 242
2,307
1,200
5,168
2,346
1.207
1)06
5,431
2,481
1,229
910
732
79
5, 592
2. 539
I, 251
927
795
80
89
5, 555
2,505
1,245
5,830
2,550
1,400
5, 665
2, 533
(
5, 731
2, 609
5, 905
2, 670
623
86
90
5,263
2,420
1, 218
909
636
80
90
924
802
79
90
951
842
87
92
(a)
(a)
(a)
53
903
728
104
93
159
159
161.5 !
162.7
172.1 175.3
158.3 I
160.3
8,802 ! ' 8, 622
6,066
2,781
6, 251
2. 898
(a)
()
(a)
)
)
(a)
(a)
77
94
' 58
94
68
92
166
485
1,146
1,114
157
919
155
463
151
918
152
855
152
549
1,583
174
820
173
437
177
924
171
810
v 1, 667
v 8, 651
1,329
7, 334
1,405
7,057
1,547
6,714
1,691
7,328
1,820
7, 435
1, 725
7,109
1,733
8,456
1,671
7,580
1, 551
7,259
1,599
7,935
1,663
7,965
' 1, 631
- 7, 800
p 118.0
v 130.5
P94.0
v 164.0
v 131.0
* 195.0
v 136.0
86.0
96.0
81.0
110.0
107.5
117.5
90.0
99.0
98.5
83.5
112.5
107.5
122.5
90.5
123.0
102.0
95.0
109.0
112.5
114.0
87.0
144.5
110.0
lfil.O
111.5
101.5
121.0
124.5
128.0
92.0
137.5
112.5
101.5
123.0
131.5
122.5
106.5
128. 5
134.0
124.5
143.0
131.5
153.5
132.0
112.0
133. 5
119.0
147. 0
131.5
154. 0
154. 5
93.0
129. 5
105.5
151.0
139. 5
156. 0
157. 0
100.5
127.0
104.0
147.5
129.0
154.5
157.0
109.5
136.0
114.0
156.5
138.5
171.0
147.0
'"110. 5
'i 130.0
113.0
' 145. 5
r
133. 5
r
156.0
133.0
AGRICULTURAL INCOME
Cash income from farm marketings:
Crops and livestock, combined index:
Unadjusted
__ .1924-29=100Adjusted
do....
Crops
do...
Livestock and products
do_._
Dairy products
do___
Meat animals.
.do...
Poultry and eggs
do...
99.0
120.0
122.5
129.0
88.5
INDUSTRIAL PRODUCTION!
{Federal Reserve)
Unadjusted:
p
165
167
162
167
167
164
168
Combined index!
1935-39=100..
160
159
168
171
175
p 183
172
172
174 |
167
177
165
164
180
173
Manufactures!
do
173
171
' 219 |
215
206
199
226
198
196
' 239
Durable manufactures?.
do
*>245
232
210
209
212
191
192
185
193
184
185
191
Iron and steel!
do
191
196
0)
0)
122
148
128
151
140
144
132
135
145
Lumber and products*
.do
134
128
129
142
156
' 147
157
150
149
142
159
Furniture*
do
154
143
155
147
112
144
148
118
135
142
127
Lumber*
do
138
124
131
113
120
248
227
224
255
214
216
Machinery*
do
268
231
'264
229
274
241
193
191
189
190
187
191
183
185
185
Nonferrous metals*!
do
188
190
192
r
r 166
138
175
v 162
174
132
171
165
140
175
153
Stone, clay, and glass products*..do
169
147
137
184
183
181
141
132
174
177
161
185
Cement
_.
-do
171
178
153
165
16S
171
176
164
174
163
161
176
172
Glass containers*
do
170
190
153
43
37
68
120
109
47
149
96
43
117
120
Polished plate glass
do
35
327
304
245
*'399
346
'312
221
275
244
229
269
Transportation equipment*!
do
371
0
0)
1,204
1,113
930
997
1,340
1,290
Aircraft*!
_do.._
0)
0)
0)
0)
Automobile bodies, parts and asr
r
US
104
134
142
146
161
120
120
135
108 i
sembly*
1935-39=100_
110
74
47
123
164
134
(2) '
(2)
Automobiles, factory salescft- - -do.. .
(2)
335
319
306
307
338
280
0) ! 0)
Locomotives*
do .
(0
0)
278
249
236
264
233
233
(0
0) ! 0)
Railroad cars*
do.-.
0)
0)
634
560
485
645
467
(
428
(0
0) i
Shipbuilding (private yards) •.. do.. .
0)
0)
(0
143
145
142
138
144
138
137
138
138
Nondurable manufactures
do...
138 !
138
137
137
137
122
120
131
118
112
Alcoholic beverages*
do
130
113 i
10*
113
117
153
148
142
166
139
151
155
Chemicals*
do- -.
138
153
167 i
'166
161
127
129
130
123
126
123
124
Leather and products
do
116
120
130 !
128
131
125
132
137
121
130
116
120
Shoes*
do...
122
129
130 ;
126
143
159
152
137
139
v 124
Manufactured food products*!--_ do
128
v 121
p 123 | "130
" 122
115
142
|
167
181
P200
M
O
O
99
Dairy products*!
do
v
127
188
P 150 |
p 111
134
119
116
119
140
173
152
Meat packing
do
131
121
134 I
135
151
149
146
139
151
144
152
Paper and products*
...do
155
143
151 !
153
155
151
150
143
159
149
159
161
Paper and pulp*
do
147
157
160
135
134
131
129
132
117
136
122
Petroleum and coal products*
do
128
118
129
153
152
154
154
161
164
160
153
Coke*.do—.
'155
162
161
132
131
128
125
128
116
110
134
Petroleum refining
do
124
111
124
r
131
125
121
116
125
126
' 115
138
Printing and publishing*
do
p 110
127
123
126
134
131
130
153
(0
Rubber products*
do
192
0)
0)
0)
(')
0)
0)
150
151
154
155
156
154
156
Textiles and products..
do
155
153
158
156
157
p 153
161
156
160
162
167
155
175
169
Cotton consumption*
do
169
160
174
177
169
172
168
170
173
175
179
169
180
179
Rayon deliveries*!
do
173
174
170
169
10
50
69
15
32
Silk deliveries*
do....
66
0)
0)
(0
0)
0)
0)
164
166
157
166
169
178
Wool textile production*
do
163
148
161
'153
151
153
133
122
123
132
134
117
126
110
123
121
128
Tobacco products
do
132
119
a
'Revised.
p
Preliminary.
cfFormerly
designated
as
"automobiles."
Publication
of
data
discontinued
to
avoid
disclosure
of
military
pay
rolls.
1
Included in total and group indexes but not available for publication separately.
1
Beginning in December 1941 this series dropped from the index of industrial production and its weight transferred to the automobile bodies, parts, and assembly
series, which is more representative of production by the automobile industry.
fRevised series. Earlier data on income payments revised beginning 1929 will appear in a subsequent issue. For industrial production series, see note marked with a
" t " on p. S-2.
•New series. See note marked with a " t " on p . S-2. ^Revisions appear in the September 1941 Survey, see note marked with a " t " on p S-2.
5°
S-2
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
SURVEY OF CURRENT BUSINESS
1943
1941
June
September
July
June
August
August 1942
1942
October
Novem- December
ber
January
February
March
April j May
BUSINESS INDEXES—Continued
INDUSTRIAL PRODUCTION!—Con.
Unadjusted—Continued.
Minerals?
1935-39 = 100..
Fuels*
__.
do
Anthracite
do
Bituminous coal
do
Crude petroleum
do
Metals**
do-...
Copper*
do
Lead
do
Zinct
do
Adjusted:
Combined Indext
do....
Manufacturers^
do
Durable manufactures^
do
Iron and steelt
do
Lumber an d products*
do
Furniture*
do
Lumber*
do. . .
Machinery*
do
Nonferrous metals*X
do..__
Stone, clay, and glass products*..do
Cement
do
Glass containers*
do
Polished plate glass
do
Transportation equipment**
do, _.
Aircraft**
do .
Automobile bodies, parts and assembly*
1935-1939=100. _•
Automobiles, factory salescTt-.. do....
Locomotives*
_
do
Railroad cars*
do
Shipbuilding (private yards)*..do
Nondurable manufactures
.do
Alcoholic beverages*
do
Chemicals*
do
Leather and products
do
Shoes*
....do...
Manufactured food products **._ do
Dairy products**
...do
Meat packing
do
Paper and products*..
do
Paper and pulp*
do
Petroleum and coal products*
do
Coke*
do
Petroleum refining..
do
Printing and publishing*
do
Rubber products*
do
Textiles and products._
do
Cotton consuroption*
do
Rayon deliveries*i
do
Silk deliveries*.
do
Wool textile production*....... do
Tobacco products
do
Minerals*-.
do
Fuels*
...do
Anthracite
do
Bituminous coal..
..do
Crude petroleum
do
Metals**
-do
Copper* j
do
Lead*
do
Zinc* _.
do
MANUFACTURERS' ORDERS, SHIP- I
MENTS, AND INVENTORIES*
!
I
New orders, total
Jan. 1939=100. j
Durable eroods
do j
Electrical machinery
do j
Other machinery
do !
Iron and steel and their products
do !
Other durable goods
..do.
Nondurable goods
do.
Shipinents.total...—-average month 1939=100.
Durable goods
do
Automobiles and equipment
do
Electrical machinery
do
Other machinery
do
Iron and steel and their products
do
Transportation equipment (except
automobiles)
do
Other durable goods
do—
Nendurable goods
do
Chemicals and allied products...
do
Food and kindred products
do
Paper and allied products
do
Petroleum refining....
do
Rubber products
do
Textile-mill products
do
Other nondurable goods
-do,
t:
r 132
120
117
144
111
194
123 I
<- 120
r 133
120
181 I
152 |
110
136 j
159 i
185
243
)
130
143
124
280
192
' 140
145
1H3
37
'399
0)
v 138
104
v 171
v 128
v 128
p J36
p 143
153
163
(0
v 153
169
169
0)
151
122
v 132
v 127
v 127
v 168
v 111
v 159
P294
*>493
v 533
p 577
P298
P723
v 167
P202
»256
P 163
P253
164
195
184
135
155
125
214
186
149
138
155
152
243
930
!
|
j
!
130
121
107
128
119
184
147
110
125
160
165
199
185
141
161
131
216
192
151
143
154
146
255
997
125
120
135
122
187
152
116
131
r 161
166
199
185
140
152
134
224
189
154
148
159
133
241
1,113
137
129
122
144
124
182
152
120
135
138
131
123
142
127
181
156
119
134
135
130
99
143
128
161
157
128
131
161
167
203
192
136
149
129
227
192
157
154
165
120
245
1,204
163
169
207
191
135
146
129
231
185
158
159
167
102
269
1,290
166
••173
208
191
135
148
128
229
190
162
164
169
105
275
1,340
142
123
338
264
645
144
109
149
134
134
141
146
135
153
160
135
153
133
136
148
280
233
428
139
122
144
132
138
127
124
124
145
149
127
••155
123
128
192
156
160
173
73
163
118
'133
' 130
••131
M55
120
151
155
117
136
168
154
307
233
467
138
130
146
130
134
126
126
125
146
150
128
154
124
127
153
155
162
173
77
157
114
131
127
137
146
119
151
156
114
125
141
93
306
236
485
139
128
145
122
121
132
127
134
147
152
130
154
126
129
130
154
160
170
56
166
118
132
129
162
147
119
148
155
116
131
134
74
319
249
560
137
131
146
120
118
130
139
126
144
149
132
152
128
125
131
151
156
168
34
169
121
131
128
127
139
124
••145
154
120
135
146
110
335
278
634
139
129
148
125
123
134
146
133
146
150
133
153
129
127
134
150
161
172
10
164
128
130
127
116
127
128
146
151
119
134
229
330
316
298
289
429
164
212
295
339
294
281
301
159
196
257
309
290
223
265
157
202
260
304
265
249
258
165
193
239
359
246
213
227
163
212
265
314
326
225
258
178
170
207
202
214
218
201
163
197
178
208
199
198
168
192
95
201
209
210
185
212
133
226
232
216
183
215
178
218
222
207
183
220
190
230
233
201
0)
156
167
179
15
166
132
131
128
97
125
132
147
152
127
131
125
129
94
138
129
98
159
124
138
'168
174
215
196
138
149
132
241
193
167
191
165
67
278
125
131
104
144
129
91
158
131
138
171
179
222
191
143
153
138
248
194
199
249
184
65
304
0)
0)
(0
120
118
(ij
141
116
152
128
131
137
155
142
155
162
139
160
135
130
(0
0)
143
139
156
127
125
v 140
*>155
148
154
161
135
161
131
128
0)
(0
0)
(0
154
155
179
178
129
131
127
89
124
132
153
157
122
138
232
332
396
367
248
413
167
158
169
180
161
132
131
128
89
129
132
»" 151
161
131
138
268
414
347
414
245
719
174
188
228
174
260
247
208
184
214
152
211
803
186
157
163
151
171
829
176
161
170
229
200
160
171
292
463
452
648
256
645
182
292
449
548
467
274
677
192
'270
'432
'648
'669
'216
'490
' 167
200
239
131
259
279
207
' 203
' 254
'129
' 270
'297
' 216
1,108
196
168
173
159
165
132
159
213
172
' 1, 266
'206
'164
'170
' 164
'154
' 139
171
' 189
' 156
pp.l2-17ofthe
semblv:" data
Augu
for the latter sei
metals) are ava
and products, \.~
~~~,
recent conditions have obliterated seasonal movements and the seasonal factors have been fixed at 100 beginning at some time in 1939 or 1940; see latter part of note marked
with a " t " on p. S-2 of the February 1942 Survey (except that the date for the automobile series given at end of note should read September 1941 instead of 1940).
•New series'. For industrial production series, see note marked with "f". For description of data on manufacturers' orders and shipments and February to June 1939
indexes of new orders see pp. 7-13 September 1940 Survey; see subsequent monthly issues for later indexes of new orders. Revised figures beginning January 1939 for shipments
will be shown in a subsequent issue.
August 1942
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
S-3
SURVEY OF CURRENT BUSINESS
1942
1942
1941
July
June
June
August
September
October
Novem-1 December
ber
January
February
March
April
May
BUSINESS INDEXES—Continued
MANUFACTURERS* ORDERS, SHIPMENTS, AND INVENTORIES*—Con.
Inventories, total
average month 1939=100.
Durable goods
do...
Automobiles and equipment
do
Electrical machinery
do
Other machinery
do
Iron and steel and their products
do
Transportation equipment (except automobiles)
average month 1939=100.
Other durable goods
do
Nondurable goods
do
Chemicals and allied products
do
Food and kindred products
do
Taper and allied products.
do
Petroleum refining
.do
Rubber products
do
Textile-mill products
__.do
Other nondurable goods
do
v 173. 2
v 193.9
v 222. 3
v 277. 0
p 203.4
P 132. 4
132.0
146.7
152.8
190.6
146.4
125.5
136.4
150.3
138.3
198.7
151.1
126.9
140.0
155.8
163.9
206.5
156.5
126.5
143.4
160.5
187.6
212.5
158.7
126.0
148.2
166.2
195.0
225.5
166.4
125.9
152.7
170.3
193.3
231.6
173.3
127.8
158.4
175. 5
193.3
234.1
180.0
129.2
161.9
179.2
190.8
243.9
187.5
127.2
163.0
180.8
190.0
250.3
191.4
125. 5
165.6
183. 4
193.6
255. 5
195.0
125.7
* 808. 4
v 140. 8
P 155.1
P 162.4
p ifiO. 3
v 148. 5
p 111.7
p 167. 5
P 164. 6
p 161.3
428.4
118.0
119.2
119.5
123.0
118.8
104.9
143.3
129.4
111.9
467.4
121.8
124.3
122.9
133.2
122.1
106.3
145.8
135.3
115.0
504.7
123.8
126. 2
125.2
139.9
124.2
105.8
141.4
132.1
117.1
552. 2
125.0
128.4
126.0
142.8
125.4
107.7
133.5
133.6
121.9
600.2
127.4
132.5
128.2
146.7
128.5
110.4
131.8
137.6
128.9
618.2
130.9
137.4
132.0
153.4
132.0
111.9
134.6
143.5
134.1
663.4
136.4
143.5
143.7
162.0
135.1
113.2
143.6
147.3
138.7
693.9
139.5
146.9
147.8
163.6
134.4
113.4
14P.7
151. 5
145. 4
709.1
140.6
147.4
150.9
158.9
137.8
115.5
149.6
154.1
147.3
732.5
141.3
150.1
155.6
156.8
140.0
115.0
155. 4
156.2
155.6
' 170. 4
r 190. 2
' 217. 9
'270.0
' 202.9
p 130.1
742.8 T 756. 2
141.5 r 140. 6
149.9 ' 153.1
157.7 v 159.9
157. 9 'ieo.o
141.1 ' 145.9
114.5 '113.0
154.3
161.2
155.8 '162.0
152.8 p 157. 3
93 2
94.5
82.4
95.2
90.3
90.1
102.5
95.1
84.5
95.7
90.4
90.4
102.9
96.1
85.8
97.5
90.4
90.7
103.5
97.1
88.4
98.8
90.1
91.0
104.1
97.3
88.6
99.1
90. 5
91.1
104.2
112.0
116.1
116.2
104.3
117.2
108.4
108.5
112.9
119.0
116.8
104.4
119.7
108.6
109. 4
114.3
123.6
118.6
104.5
121.2
108.9
110.1
115.1
'126.5
119.6
' 104. 3
'121.9
' 109. 2
110.6
116.0
' 126. 2
121.6:
'•104.il
' 122. 2
' 109. 9
' 110.9
145
135
150
147
98
121
173
161
133
146
130
151
144
111
122
180
136
132
150
131
158
142
118
120
190
158
136
152
134
159
143
131
120
189
152
138
88.9
96.7
87.5
95.9
88.9
96.1
167.0
186.6
202.5
264.2
199.1
127.5
COMMODITY PRICES
COST OF LIVING
National Industrial Conference Board:
Combined indexf
1923=100Clothing
do...
Foodf
do...
Fuel and light..
do...
Eousing
do...
Sundries
do...
U. S. Department of Labor:
Combined index*
....1935-39=100.
Clothing*
do...
Foodf
do...
Fuel, electricity, and ice*.
do.._
Bousefurnishings*
do.-_
Rent*
do...
Miscellaneous*
_
do...
PRICES RECEIVED RY FARMERS§
(J. S. Department of Agriculture:
Combined index...,
1609-14=100..
Chickens and eggs
__-do
Cotton and cottonseed
do
Dairy products
do
Fruits
do....
Grains
do
Meat animalsf
-do
Truck crops.
do
Miscellaneous
do
RETAIL PRICES
U. S. Department of Labor indexes:
Anthracite
1923-25=100.
Bituminous coal (35 cities)
do
Food (see under cost of living above).
Fairchild's index:
Combined index...
.Dec. 31, 1930«=100.
Apparel:
Infants'.
do
Men's
do
Women's
do
Home furnishings
do
Piece goods
,
do
j
97.3
88.1
99.5
90.4
91.0
104.1
88.5
73.6
85.5
86.7
88.2
98.6
88.9
73.8
86.2
87.8
88.4
98.7
89.4
74.5
87.3
88.6
88.6
98.8
90.8
76.9
89.4
89.4
88.9
99.8
92.0
78.3
90.7
90.0
89.2
101.5
92.9
79.6
92.2
90.2
89.5
101.9
116.4
125. 3
123.2
105.0
122.3
108.5
110.9
104.6
103.3
105.9
101.4
105.3
105.8
103.3
105.3
104.8
106.7
102.3
107.4
106.1
103.7
106.2
106.9
108.0
103.2
108.9
106.3
104.0
108.1
110.8
110.7
103.7
112.0
106.8
105.0
109.3
112.6
111.6
104.0
114.4
107.5
106.9
110.2
113.8
113.1
104.0
115.6
107.8
107.4
92.6
90.3
89.9
102.2
110.5
114.8
113.1
104.1
116.8
108.2
107.7
151
137
153
141
148
116
191
169
134
118
118
107
126
97
96
142
126
125
127
121
132
93
98
151
107
131
130
128
135
100
99
155
133
128
139
141
150
140
89
106
163
145
131
139
146
144
145
107
101
154
164
144
135
157
136
148
98
103
149
158
128
143
153
138
148
98
112
157
162
154
149
147
143
148
102
119
164
204
169
88.8
82.4
90.5
84.6
92.0
86.6
93.8
88.3
94.9
88.7
95.8
88.4
96.3
88.5
96.5
96.7
••120
so!i
113.1
97.7
99.6
102.6
105.2
106.2
107.5
108.3
110.2
111.9
112. 5
113.4
113.2
108.0
105.1
112.9
115.6
112. 2
98.1
90.1
95.3
100.4
91.3
98.7
91.5
96.9
102.4
93.3
100.0
93.3
100.4
104.9
97.1
101.2
95.5
104.1
106.9
99.9
102.1
96.5
105.7
108.5
101.6
103.2
97.5
106.9
109.5
103.7
103.7
98.1
107.7
110.2
105.0
104.9
101.1
109.1
112. 7
107.1
106.7
102.7
111.2
114.3
110.8
107.5
104.2
112.1
115.1
111.8
108.6
105.6
113.2
115.8
112.6
108.3
105.2
113.0
115.7
112.2
WHOLESALE PRICES
U. S. Department of Labor indexes:
Combined index (889quotations*). 1926=100..
88.8
90.3
91.8
92.4
87.1
92.5
93.6
96.0
96.7
97.6
r 98.8
Economic classes:
Manufactured products
do
90.1
91.5
92.8
93.9
93.8
94.6
96.4
97.0
97.8
Raw materials
do
83.6
90.2
92.3
99.8
89.7
96.1
86.1
87.6
90.0
97.0
98.2
100.0
99.7
Semimanufactured articles
.do
87.6
89.7
90.1
89.9
87.9
89.5
90.3
92.8
91.7
92.0
92.3
92.8
92.9
Farm products
do
82.1
90.6
94.7
104. 4
90.0
101.3
85.8
87.4
91.0
100.8
102.8
104. 5
104.4
Grains
do
75.9
84.3
91.0
81.4
76.3
79.6
85.3
88.8
95.3
95.9
93.8
91.5
92.2
Livestock and poultry
do
93.0
90.6
97.4
116.9
94.5
109.3
98.9
99.0
101.1
105.7
113.8
118.3
117.6
Commodities other than farm products*
1926=100.. P97.1
88.0
89.3
90.7
91.9
92.7
92.8
95.5
96.2*
97.2
Foods
do
83.1
99.3
89.3
90.5
84.7
87.2
89.5
88.9
93.7
94.6
96.1
98.7
98.9
Cereal products*
._.do
79.8
87.2
85.9
89.3
80.3
81.5
85.8
86.4
91.1
91.1
90.6
90.2
89.0
Dairy products
...do
84.3
92.0
96.3
95.5
87.7
90.3
93.3
95.2
96.0
95.0
94.3
94.1
93.5
Fruits and vegetables
do
73.0
105.4
77.9
73.8
69.4
70.3
70.7
75.8
78.3
85.2
87.7
97.7
96.7
Meats
do
90.8
113.9
90.8
95.3
101.6
104.0
93.8
97.5
99.4
93.6
109.2
112.8
114.8
Commodities other than farm products and
foods
1926=100.. P 9 5 . 6
88.6
90.8
89.7
91.6
93.4
93.5
93.7
94.6
95.2
95. 6
* 95. 7
Building materials
do
101.0
110.1
107.5
107.8
103.1
105.5
106.4
107.3
109.3
110.1
110.5
110.2
110.1
Brick and tile
.do
92.5
98.1
96.6
95.1
95.7
96.6
94.2
96.7
96.9
97.0
97.1
98.0
98.0
Cementt
do
91.9
94.2
93.1
93.4
92.1
92.1
92.2
92.7
93.4
93.4
93.6
94.1 j
94.2
Lumberf
do
117.6
131.7
128.7
129.4
129.5
131.6
122.3
127.5
129.1
132.7
133.1
131.8 I 131.5
90.3
Paint and paint materials*
do
100.3
95.3
91.6
93.3
94.7
96.0
96.5
99.9
99.1
100.8
100.6 i ioo. e
r
Revised, v Preliminary.
iliminary. •Number of quotations increased to 889 in January 1941. JFor monthly data beginning 1933, see p. 18 of the April 1940 Survey
y
§Data for July 15, 1942: Total, 154; chickens and eggs, 145; cotton and cottonseed, 155; dairy products, 144; fruits, 131; grains, 115; meat animals 192*; trucl
miscellaneous, 139.
'
' truck crops, 200;
fRevised series.
tables 5 and 7, i
the Departmen
_
._ . .
revised indexes for meat animals will be shown in a subsequent issue.
•New aeries. For description of data on manufacturers' inventories, see pp. 7-13 of the September 1940 Survey, and for revised figures beginning December 1938 see table
40, p. 22 of the January 1942 Survey. For data beginning 1913 for the Department of Labor's cost of living series, see table 19, p. 18 of the May 1941 Survey for index of
prices of commodities other than farm products beginning 1913, see table 36, p. 18 of the September 1940 Survey. Data beginning 1926 for cereal products and 1913 for Daint
paint materials will be published in a subsequent issue.
Digitized forand
FRASER
S-4
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, to- | 1942
gether with explanatory notes and references j
to the sources of the data, may be found in the T
1940 Supplement to the Survey
August 1942
1941
July
June
1942
September
August
Novem- December
ber
October
February
January
March
April j May
COMMODITY PRICES—Continued
j
U. S. Department of Labor Indexes—Con.
Commodities other than farm products and
foods— Continued
Chemicals and allied products! . . 1926= 100
Chemicals!
do
Drugs and pharmaceuticalst
do
Fertilizer materials!
do
Oils and fats*
_ - _ . .do . . .
do
Fuel and lighting materials
do
Eleefricitv
Gas
i
i
WHOLESALE PRICES—Continued
j
97.2
96 5
129.1
78.4
108.5
78.4
do
do
59.8
Petroleum products
.do....
118.2
Hides and leather products.. ....
118.5
do
Hides and skins
101.3
do....
Leatherr
do
Shoes
126.4
102.9
do
House-furnishing goods
do....
108.1
Furnishings
_.
do
97.4
Furniture
Metals and metal products. . . . . . ..do . . v 103.9
97.2
do
Iron and steel
do .
85.6
Metals, nonfcrrous
98.5
Plumbing and heating equipment,-do
97.6
Textile products
do
do.__.
109.1
Clothing
112.7
do
Cotton goods
do.—
70.0
Hosiery and underwear
30.3
do
ftayon*
Silk*
..
. do
0)
111.0
Woolen and worsted goods.
do
90.2
do
Miscellaneous
73.0
doAutomobile tires and tubes
101. 6
do
Paper and pulp
Wholesale prices, actual. (See under respective
commodities.)
87.4
88.2
104.4 !
76.6
91.3
79.2
66.7 !
81.7 i
61.7 !
111.3
112.1
100.0
117.1
97.2
102.1
92.2
98.6
96. 9
84. 4
87.1 ;
89.7
96.1
104.2 !
64.4 i
29.8
83.8 !
87.2 :
99.9
69.9
80.6
77.9
67.2
81.0
59.9
107.8
112.4
97.9
111.7
93.1
99.0
87.0
98.3
96.5
84.5
83.1
84.5
91.6
94.6
61.9
29.5
51.2
94.6
80.6
58.8
98.0
85.2
87.3
100.0 !
74.0
83.7 i
78.5 (
66 8 i
80.8 |
60.9 j
109.4
112.5 i
98.1 !
114.7
94.4
99.7
88.9
98.5
96.8
84.7
83.2
86.2
93.9
96.1
62.9
29.5
51.4 I
96.5 !
82.0 i
58.8 !
98.8 |
86.0
87.5
100.1
75.3
87.3
79.0
66.4
78.3
61.4
110.2
112.2
98.5
116.1
95.4
100.7
89.9
98.6
96.9
84.4
86.8
88.3
95.1
101. 5
63.8
29.5
52.0
98.2
83.7
60.8
100.7
115.6
119.5
124.5
114.9
113.4
118.6
117.6
114.4
109.7 i
111.5
117. 1 j 114.3 ;
112.2 i 105.7
112.0 .
113.8 !
1
1
I
1
i
!
•
i
!
i
0)
1
!1
:
i
89.7
88.4
i24.i :
77.3 :
93.4
79.6
66 2
78.9 !
61.7 i
112.6
113.1
100.9
118.8
99.5 i
104.4 :
94.4 :
103.1
97.0
84.6
87.8
90.9
97.8
105. 2
66.6 \
30.3 !
0)
!
101.4 1
85.
60.81 i
101.7 ;
i
102.3
86.4
65.5
101.9
i
!
i
i
!
96.0
95.3
126.3
78.6
106. 4
78.2
67 6
76.4
59.5
114.9
115.3
101. 4
121.1
102.4
107. 2
I 97.4
i 103.5
97. 0
85.4
i
93.6
93.6
101.1
110. 5
1 69.0
|
30.3
89.8
88.3
123.2 !
77.3 !
92.9
78.8 !
68.2
77.5
60.4
114.1
114.0 •
101.1
120. 5
100.6 :
105.2
95.8 •
103.3 i
97. 1
84.8
87.9
91.1
97.9
105.4
67.0
30.3 j
0)
i
102.6 :
87.3
67.4 :
102.2 ;
91.3
88.6
123. 0
77.8
101.9
78.4
67.4
77.4
59.8
114.8
115.9
101.3
120.7
101. 1
105.6
96.6
103.3
97.0
84.8
89.1
91.8
98.4
107. 5
67.0
30.3
102.7 I 103.0
87.6
89.3
67.4 i
71.0
102. 5 ; 102.8
104.3
89.3
71.0
102.9
0)
111.0
90.3
72.5
102.9
0)
108.7
89.7
71.0
102.9
108.9
111.9
108.9
109.5
107.6
104.9
111.9 ! 108.9
102.8 1 98.6
109.2 i 107.6
104.1
108.3
101.4
107.0
103.2
106.6
100.7
105.8
102.0
105.8
98.0
104.7
101.9
104. 1
96.7
104. 5
0)
;
0)
97.0
96 3
126. 5
79.3
108.2
78.0
67.6
77.0
58.9
115.3
115.5
101.4
121.8
102. 5
107. 4
97.4
103.6
97.0
85.6
97.9
95.2
105.3
111.4
69.6
30.3
97.1
96 4
126.5
79.5
108.8
77.7
65 3
77.1
58.3
116.7
116.6
101.5
124.3
102.6
107.7
97.4
103.8
97.1
85.6
98.2
96.6
106.6
112.6
69.8
30.3
0)
0)
97.1
96 4
126.7
79.2
108.8
77. 7
64 4
78.1
58.4
119.2
123. 5
101.3
126.7
102.8
108.0
97.5
103.8
97.1
85.6
98.5
97.7
107. 8
113.8
70.6
30.3
97.3
96 5
129. 1
79.0
108. t>
78.0
79 9
59.1
118.8
121.4
101.3
126.fi
102.9
108.1
97.5
v 103.9
97.2
85.6
98.5
98.0
109.6
112.9
71.9
30.3
111.0
90.5
73.0
102.8
PURCHASING POWER OF THE
DOLLAR
Wholesale prices
Retail food prices!
Prices received b y farmers
•Cost of living!
-
1023-25 = 100
do....
do
do —
102. 1
102.7
97.4
104.5
I
•
!
i
109.0
113.4
105.7 i
110.5
i
i
!
!
CONSTRUCTION AND REATJ ESTATE
CONTRACT AWARDS, PERMITS, AND
DWELLING UNITS PROVIDED
Value of contracts awarded (F. R. indexes):
Total, unadjusted
1923-25=100.
Residential, unadjusted
do_.
Total, adjusted
do..
Residential adjusted
do
|
* 88
F. W. Dodge Corporation (37 States):
j
Total
projects
number.. 51,863
r
l otal valuation
thous. of doL. jl ,190,264
Public ownership
do
1,105,414
Private ownership
do
84,850
Nonresidential buildings:
Projects
_
number. J 14,372
Floor area
thous. of sq. ft-. 134,085
Valuation
- thous. of doL- 568,385
Residential buildings, all types:
Projects
number.. 33, C02
Floor area .
thous. of sq. ft.
50,673
Valuation
thous. of doL. 185,471
Public works:
i
Projects
number.- j 2, 739
Valuation
thous. of dol_.i 203,341
Utilities:
I
Projects
number-. | 1,750
Valuation
thous. of doL_j 233,067
New dwelling units provided and permit val- j
nation of building construction (based on j
bldg. permits), U.S. Dept. of Labor indexes:! j
Number of new dwelling units provided
1935-39=100..: 102.7
Permit valuation:
I
Total building construction
do j 58.7
New residential buildings.. . . d o . . . : 74.3
New nonresidential buildings
do
| 37.6
Additions, alterations, and repairs.-do
! 72. 8
Estimated number of new dwelling units pro- j
vided in all urban areas (TJ. S. Dept. of !
Labor):!
;
Total
-.
number..
1-family dwellings
do j
2-family dwellings
do
j
Multifamily dwellings
do '•
Engineering construction:
Contract awards (E. N. R.) § thous. of dol..l 968,938
135 I 153
111 ! 118
117 I 139
101
115
46,950 :
539,306
313,650
225,456
49,637
577,392
348,495
228,897
159
111 ;
152 i
112
162 !
105 i
161
105
137
84
145
87
122
71
138
74
98 :
59
123
69 !
68
118
125
99
125
95
128
100
192
'90
' 158
'76
22,941 j 23,862 40, 000 55, 843 33,167 40, 557
431,626 316,846 433, 557 610,799 498, 742 673, 517
287,722 198, 251 310, 249 472,817 354,575 568,988
143,904 |118,595 I 123, 308 137 982 144,167 104,529
\ 9,907
i 54,417
j 269,553
6,262 I 8,339
31,898 | 38,242
200,456 j 220,612
4,978
31,023
192,936
3,619 I 3,245 ! 4, 600
5,982
24,908 1 21,113 i 31, 576 42,456
171,016 !123,231 I 169.606 231,834
38,527 ; 39,429
52,098 52,895
205,634 205,049
37,234 j 31,791 I 29,246 i 22,633
62,773 | 43,624 ! 45,403 j 30,170
231,529 i 175,713 I 171,772 i 116,468
18.344 ! 19,838 34,492 ! 47, 731
25,591 ! 26, 864 41,836 I 50,770
104,276 I 102,758 168,014 |219,276
1,701
1,487
99. 631 101,074
• 1,419 1,266
94,563
| 131,123
501
j 465
70, 461
i 98,168
5,208
8,332
51,281
67,961
234, 939 297, 885
i
1,871
134,054
382
460 !
680
33,385 | 50, 657 107,909
1,086
88,436
453
60,780
283.5 I 264.2
253.1
244.5 i 198.8 : 171.5
178.5
236.4
135.9
131.9
161.5
233.2
100.0
125.8
156.0 I 136.6 I
219.8
180.3
104.1 | 89.7
112.6
130.9
195.8
247.7
162.3
140.5
r
i 40,920 ; 29,150
1 606,349 j 458,620
\ 371,345 297,865
j 235,004 i 160,755
50,551
41,497
760,233 i 623,292
520,430 403,495
239,803 j 219,797
' i
10,766 I 7,822
63,802 j 46,810
286,741 218,288
I
145
96
128 I
82
103.9
147.2
66.0
83.6
715
105,989
263
50.345
!
567 i
681 I 1,725
; 64,428 ! 58,535 I 92,148
!
212 '
405
227 !
j 26, 429 37, 402 67, 541
26, 683 28, 024
38, 341 38,147
162,097 147,964
945
3,480
58, 477 127,107
331
721
43, 229 100, 561
120.7 I 121.5
223.5
186.0
220.5
1G8.8
104.4 I
114.1
93.1
81.6
85.7
99.6
65.6
88.5
129. 9
168.0
104.2
74.8
103.4
145.5
68.6
95.8
90.8
161.0
43.1
93.4
81.2
117.2
51.3
21,103
15,850
1,533
3,720
36, 838
23, 402
2,645
10, 791
32,126
25,450
2,311
4,365
I
27,868
20,833
1.550
5,485
19,338
15,433
1,353
2, 552
589,221 i 958,663 j 529,561 I 514,251 ! 406,332 j 348,800
269,689
47,994
38,587
2,681
6, 726
45,025
36,072
2,421
6, 532
41.022
34,667
2,363
4,592
40,389
34,395
2,888
3,106
33,646
28, 354
2,310
2,982
628, 780 634,823 ! 729,485 898,696 11,044,572
' Revised.
v Preliminary.
§ Data for July and October 1941 and January and April 1942 are for 5 weeks; other months, 4 weeks.
» No quotation.
•New series. For indexes of rayon and silk prices beginning 1926, see table 29, p. 18 of the May 1940 Survey. Data beginning 1926 for price index for oils and fats will
appear in a subsequent issue.
!Revised series. Data for chemicals and allied products and subgroups revised beginning 1926; see table 32, p. 18 of the August 1940 Survey. Indicated series on "purchasing power of the dollar" revised beginning January 1935; see table 4, p. 18 of the January 1941 Survey. Revised data beginning September 1929 for indexes of new dwelling
units provided and permit valuation of building construction are shown in table 7, p. 17 of the March 1942 Survey. Revised data on number of dwelling units provided for
1939 are shown on table 18, p. 17 of the May 1941 Survey. Estimates beginning January 1940 cover urban areas as defined by results of the 1940 Census; a few revisions in
data for 1940 as shown on p. 22 of the June 1941 Survey, are available on request.
S-5
SURVEY OF CURRENT BUSINESS
August 1942
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1942
1941
June
September
June
July
August
1942
Octo- I Novem- December
ber
ber
January
February
March
April
May
CONSTRUCTION AND REAL ESTATE—Continued
HIGHWAY CONSTRUCTION
Concrete pavement contract awards:
4,726
3,464
6,072
7,091
4,344
8,914
8,176
15, 266
17,124
9,567
6,975
14, 462
Totalf
thous. sq. yd.
2,490
1,624
1,451
3,972
5,416
535
2,964
11,038
9,594
3,606
2,885
9,800
3,112
Airports*
do
1,139
2,635
1,727
2,061
2,570
3,197
2,060
4, 825
3,910
2,460
3,267
3,878
1,110
Roads
do
1,098
1,814
1,392
1,437
1,239
2,015
2,167
2,7C6
2,051
1,630
1,394
1,786
903
Streets and alleys
do
Status of highway and grade crossing projects
administered by Public Roads Admn.:
I
Highways:
Approved for construction:
1,967
1,654
2, 899 I 2, 749
2,635
2,259
1,796
1,562
3,879
3, 557
1, 431
1,455
Mileage
no. of miles..
4,118
24,612 24,055 27, 968
38,850 39, 259 34,014
30, 789 28,344
47, 264 44, 693 38, 404
Federal funds
thous. of doL. 32, 808
Under constructior7,044
8, 615
7,809
6,802
9,054
7,417
6,071
8,921
8,840
8,176
6,778
Mileage
no. of miles..
6,817
6,672
Federal funds
thous. of doL. 122, 402 139, 401 141, 569 138, 675 136,512 131,914 128, 351 121,384 117, 669 119, 233 123, 405 127,195 127,511
Estimated cost
d o . - . 217, 260 270, 967 276,100 272,079 268, 926 260, 555 253, 703 239, 336 228, 623 225, 527 226, 543 231, 620 228, 535
Grade crossings:
Approved for construction:
8, 542
8,047
7, 088 20,459
17,798
14,666
10, 005
7,490
Federal funds
do
12, 423 11,851
10,208
8, 201
9,314
11,810
7,823
8,761
8,210
Estimated cost
do
21, 255 18, 765 15, 820 13, 553 13,122
8,503
8,893
11,588
Under construction:
34, 576 34, 467 33, 658
33, 413 37, 714 39, 548 42, 778 42, 328 41, 520 40,464
37, 742 35, 928 34,754
Federal funds
do
35, 409 39.452 40, 939 44, 249 43, 771 42, 920 41, 932 39, 323 38, 300 37,140 36, 913 36, 814 35, 838
Estimated cost
do
CONSTRUCTION COST INDEXES
Aberthaw (industrial building)
1914 = 100..
American Appraisal Co.:f
Average, 30 cities
1913=100..
Atlanta
do.
New York
do.
San Francisco
do.
St. Louis .
do.
Associated General Contractors (all types)
1913=100..
E. H. Boeckh and Associates, Jnc.:§
Apartments, hotels, and office buildings:
Brick and concrete:
Atlanta
U. S. av., 1926-29=100..
New York
do
San Francisco..
do
St. Louis
do
Commercial and factory buildings:
Brick and concrete:
Atlanta..
do
New York
do
San Francisco
do
St. Louis
do
Brick and steel:
Atlanta
_do
New York
do
San Francisco
do
St. Louis
do
Residences:
Brick:
Atlanta
do
Mew York
do
San Francisco
..do
St. Louis
do
Frame:
Atlanta
do
New York
do
San Francisco
do
St. Louis
do
Engineering News Record (all types)§
1913 = 100..
Federal Home Loan Bank Board:f
Standard 6-room frame house:
Combined index
1935-1939= 100..
Materials
.do
Labor
do
211
207
242
242
250
228
238
215
214
231
197
219
207.8
215
219
216
233
203
223
221
218
234
204
223
221
218
235
205
223
223
219
235
209
224
223
219
235
210
224
197. 5
197.8
200.3
201.9
203.3
225
222
238
212
226
218
229
224
240
215
230
231
225
241
215
230
237
232
247
221
236
238
232
248
221
237
241
233
250
224
238
203.3
204.0
206.5
207.3
207.3
105. 6
138.2
126.6
129.6
99.2
134.9
119.3
120.3
99.6
135. 3
120.8
120.7
100. 5
136.1
121.5
121.3
100.7
136. 3
122.8
121.5
100.7
136.3
122.5
121.5
100.7
136.3
123.5
122.6
100.2
136. 0
123.2
122.5
101.4
137.0
124.2
123.8
101.4
137.0
124.2
123.9
101.9
137.5
125.6
124.4
105.4
137.7
125.7
124. 4
105.6
138. 2
126.6
124.8
106.0
139.6
127.2
132.6
101. 3
136.9
122.7
120.8
101.6
137.1
123.8
121.1
102.2
137.7
124.3
121.5
102.4
137.9
124.7
121.7
102.4
137.9
124.6
121.7
102.4
137.9
126.2
123.4
102.1
137.7
126.0
123.4
102.9
138.4
125.3
124.4
102.9
138.4
125.3
124.5
103. 2
138.8
126.6
124.9
105.7
139. 0
126.7
124.9
106.0
139.6
127.2
125.3
106.5
137.4
130.4
129.4
100.3
134.3
121.9
121.5
100.9
134.8
127.3
122.0
101.8
135.5
128.0
122.6
102.0
135.7
128.7
122. 8
102.1
135.8
128.4
122.8
102.1
135.8
128.8
123.2
101.3
135.3
128.3
123.1
102.5
. 136. 2
127.1
124.1
102.5
136.2
127.1
124.3
102.8
136.8
128.5
124.7
106.4
137.1
128.6
124.8
106.5
137.4
130.4
125.3
103.8
139.7
124.8
126. 9
94.6
133.6
115.0
116.8
97.0
135.9
117.3
118.3
99.3
137.5
118.9
120.0
99.5
137.7
120. 4
120.3
100.0
138.0
119.0
120.3
100.0
138.0
119.5
120.8
97.1
136.1
117.6
120.4
137.9
120.0
121.4
137.9
120.0
122.1
100.3
138. 3
121.9
122. 5
103.7
139.3
122.3
122. 8
103.8
139.7
124.8
123.5
103.3
141.4
120.2
124.8
92.1
134.2
110.4
115.5
95.2
137.1
113.3
117.3
98.1
139.1
115.3
119.5
98.3
139.3
117.6
119.9
139.7
115.8
119.9
139.7
117.4
120.3
95.1
137.2
114.9
119.8
98.5
139.4
117.7
120.8
98.5
139.4
117.7
121.7
139.8
118.9
122.1
103.2
141.1
119.5
122.5
103.3
141.4
120.2
122.9
277. 7
258.2
260.4
263.1
264.5
266.1
266.2
267.6
269.4
269.7
271.8
272.3
274.2
123. 5
121.3
127.8
112.4
109.2
118.6
113.6
110. 7
119.3
115.1
112.6
120.0
116.5
114.4
120.7
118.5
116.0
123.3
119.2
116.9
123.9
119.9
117.7
124.2
120.6
118.6
124.5
121.2
119.3
125.0
122.0
120.0
126.0
122.3
120.5
125.9
122.8
121.0
126.4
REAL ESTATE
Fed. Hous. Admn.. home mortgage insurance: 1
Gross mortgages accepted for insurance
thous. of dol._ 98, 800 122, 963 114,247 107,137 104, 937 94, 948 70, 799 75, 435 66, 952 104, 566 141,443
.9, 225 53, 488
Premium-paying mortgages (cumulative)
thous. of dol_._ 4,071,838 1,108,723 3,190,690 3,261,476 3,335,703 3,423,183 1,503.681 3,596,491 3,690,214 ,769,496 1,849,549 3,916,421 3,990,152
Estimated new mortgage loans by all savings
and loan associations, total, thous. of dol._ 94,095 133, 640 132, 972 129, 727 129,934 127,938 104,749 100, 208 79, 533 76, 756 87,367 99,047 95, 009
Classified according to purpose:
Mortgage loans on homes:
20, 799 21,775
15,930 44, 207 44,918 42,987 40,782 37, 722 30,103 30, 290 22,791
Construction
do
20, 488 17, 610
59,874 48, 816 43,145 34,127
33, 769 40,930
52,112 55,993
Home purchase
do
52,196
53,095
55, 682 55,973 58,052
16,283
13,
340
15,
785
15.871
14,424
12,
854
12,
325
15,184 17,891
13,225
Refinancing
do
14, 508 13, 607
16,816
5,361
4,267
5,571
5,633
5,884
4,170
3.138
3,190
3,566
3,547
Repairs and reconditioning
..do
4,083
3,866
6.022
8,223
9,411
9,916
9,345
8,179
6,725
7,303
6,571
Loans for all other purposes
do
7,890
6,831
7,772
9,534
Classified according to type of association:
31,142
31,919
36,325
Federal
_
thous. of dol... 35, 279 57,542 56, 564 57, 592 54, 786 52, 507 41,910 41,182
38, 484 36, 966
54,930 46,890 43, 960 35, 312 33,939 38,030 43, 937 43, 005
44, 265 54, 857 55, 676 54, 542 54,303
State members..
.do.
17,593 20,845
20, 501 15,949
15,066
13,079
14, 551 21, 241 20,732
10,898 13,012
Nonmembers
.do
16, 626 15,038
§Beginning with the September 1940 issue of the Survey, indexes computed as of the first of the month are shown as of the end of the preceding month. The Engineering
News Record index is similarly shown in the 1940 Supplement as of the end of the preceding month.
^Figures include mortgages insured under the defense housing insurance fund beginning April 1941 for gross mortgages accepted for insurance and beginning June 1941 for
premium-paying mortgages.
•New series. Earlier data for concrete pavement contract awards for airports and for the total revised to include airports, not shown in the Survey beginning with the
March 1941 issue, will appear in a subsequent issue.
fRevised series. Revised indexes of the American Appraisal Company beginning 1913 are available in table 44, p. 13 of the November 1940 Survey. For revision in total
concrete awards, see note marked with an " V Data beginning 1936 for the Federal Home Loan Bank Board's revised index of construction costs are shown on p. 26 of the
October 1941 Survey.
S-6
SUEVEY OF CURRENT BUSINESS
Monthly statistics through December 1833, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1943
1941
June
September
June
July
August
August 1942
1942
October
November
December
January
February
March
April
May
CONSTRUCTION AND REAL. ESTATE—Continued
REAL ESTATE-Continued
Loans outstanding of agencies under the Federal Home Loan Bank Board:
Federal Savings and Loan Ass'ns, estimated
mortgages outstanding
...thous. of doL. 1,849,400 '1,687,087 1,717,451 '1,750,843 1,775,117 1,801,033 '1,815,066 1,824,646 1,834,376 1,829,218 1,832,341 1,842,422 1,846,790
Fed. Home Loan Bks., outstanding advances
to member institutions
thous. of dol_- 192, 645 169,897 168,145 172, 628 178,191 184,311 187,084 219, 446
206, 068 197, 432 191, 505 185, 298 181,165
Home Owners' Loan Corporation, balance of
loans outstanding...
thous. of dol_._ 1,675,888 1,870,305 1,854,824 1,840,686 1,824,672 1,809,074 1,794,111 1,777,110 1,758,213 1,742,116 1,724,229 1,709,064 1,692,197
Foreclosures, nonfarmrt
33.5
34.2
30.9
36.7
32.9
31.9
32.4
37.3
32.1
28.0
29.5
27.2
Index, adjusted
1935-39=100.__
29.1
30,819
24, 943
23, 698
24,122
24, 668
30,833
23, 822
31, 261
35, 655
30, 505
Fire losses
.-thous. of doL. 22, 410
23, 233
27,960
DOMESTIC TRADE
ADVERTISING
Printers' Ink indexes, adjusted:!
Combined index....
1928-32=100..
Farm papers
do
Magazines.
do
Newspapers
do
Outdoor
-do
Radio advertising:
Cost of facilities, total
thous. of dol.Automobiles and accessories
.do
Clothing
do
Electrical household equipment^
do
Financial
do
Foods, food beverages, confections
do
House furnishings,'etc.t
do
Soap, cleansers, etc
...do
Smoking materials
do
Toilet goods, medical supplies.
-do
Allothert
do
Magazine advertising:
Cost, total
---do
Automobiles and accessories
do
Clothing
do...
Electric household equipment
do
Financial
.._do...
Foods, food beverages, confections do_._
House furnishings, etc
do...
Soap, cleansers, etc
do...
Office furnishings and supplies
do_-.
Smoking materials
do...
Toilet goods, medical supplies
do...
Allother...
-do...
Linage, total
thous. of lines.
Newspaper advertising:
Linage, total (52 cities)
-declassified
do...
Display, total..
.._
.do...
Automotive
do
Financial
do...
General
do.-.
Retail..
do...
87.8
64.5
82.1
80.7
84.5
88.6
56.9
91.6
78.5
92.5
90.5
68.3
86.5
81.9
89.9
90.7
61.8
85.0
81.4
110.0
89.1
67.7
86.3
82.1
85.5
89.5
63.2
92.0
83.2
70.3
99.4
67.4
92.8
91.3
112.3
80.5
51.5
72.3
74.5
80.6
81.0
49.3
72.7
75.3
83.1
80.4
47.5
69.4
74.8
94.2
79.1
52.6
67.9
74. 7
78.0
53.8
67.9
72.8
78.0
8,429
663
38
55
99
2,531
20
957
1,284
2.449
332
8,235
672
31
44
99
2,220
16
1,092
1,315
2. 507
240
7,964
637
46
55
76
2,137
20
1,009
1,302
2,434
250
8,117
630
67
43
63
2,220
16
999
1,252
2,592
234
9,679
771
59
44
39
2,730
58
1,060
1,321
3,151
446
9,723
834
73
55
51
2,752
74
991
1,250
3,078
566
10,412
948
61
44
41
2,936
58
1,157
1,351
3,218
597
10, 285
818
87
45
41
3,102
66
1,118
1, 356
3,094
728
9,382
713
84
45
41
2.845
59
998
1,215
2,846
536
10, 282
645
83
56
54
3,112
67
1,125
1, 298
3,122
551
9, 372
531
115
45
44
2,785
52
1,058
1,293
2,843
605
9,199
569
108
56
52
2,543
52
1,005
1,316
2,856
643
13,931
1,188
735
213
304
2,043
536
477
172
732
2,928
4,603
1,769
15,427
2,267
803
612
380
2,292
893
397
198
863
2,456
4,267
1,890
10,823
1,416
222
315
277
2.109
320
275
122
763
2,033
2,972
1.716
11,279
1,346
675
196
278
2,110
286
331
241
606
2.009
3,202
2,066
14, 643
1,254
1,337
276
412
2,133
829
333
359
699
2,435
4, 576
2.514
17,885
18,235
2,145
1,029
430
482
3,010
996
503
374
870
3,053
5, 343
2,682
15,928
1,116
880
476
355
2,555
756
331
329
705
2,679
5.744
1,937
10,486
659
383
103
318
1,937
318
242
177
733
1,853
3,763
1,940
13,044
641
660
111
357
2.648
417
515
237
673
2,675
3, 993
2,130
15,811
759
1,242
237
390
2,941
798
763
243
790
2,922
4,727
2,331
14,847
1,094
905
244
402
2,466
815
593
206
736
2,771
4,614
2,168
15,421
1,313
968
161
403
2,352
851
640
258
809
2, 883
' 4, 782
2,064
97, 663
20, 608
77,055
2,541
1,370
14,841
58, 303
108,432
24, 294
84,138
4,918
1,664
16, 362
61,193
22, 378
66, 451
3,108
1,889
13,094
48, 360
95, 707 107,160 123, 815 120, 624 125,484
23, 306 21, 745 22,010
21,008
20, 534
72,401
85,415 101,805 99,615 104,950
5,607
3,034
4,841
2,980
3,291
1, 551
1,337
1,534
1, 515
1,702
15, 343 19,993
11,692
20,002
17,047
65,558
74, 654 73,258
56,338
82,910
89, 341
19, 064
70,277
1,320
2,204
13, 076
53,677
87,944 106,908
18,192
21, 975
69, 752 84,932
1,560
1,938
1,339
1,849
14,662
16, 268
52,191
64, 878
107,055
21, 649
85, 406
2,416
1,704
17, 821
63, 464
107,044
22, 326
84,718
2,334
1,248
16, 529
64, 608
0.2
80.2
85.2
83.7
1,194
1,094
51.7
77. 6
2,118
1,389
436
376
2,893
1,214
455
291
782
2,939
4,994
2,534
GOODS IN WAREHOUSES
Space occupied in public-merchandise warehouses..
percent of total.
79.5
82.8
83.4
83.9
NEW INCORPORATIONS
Business incorporations (4 States)
number.
1,500
1,343
1,332
1,412
1,229
1,414
1,353
1,172
1,279
POSTAL BUSINESS
Air mail: Pound-mile performance.-.millions..
Money orders:
Domestic, issued (50 cities):
Number
thousand s.
6,312
Value
thous. of dol_. 73, 783
Domestic, paid (50 cities):
Number
thousands16,865
Value
thous. of dol. 162, 616
Receipts, postal:
50 selected citiesdo._.
(0
50 industrial cities
do
0)
RETAIL TRADE
All letail stores, total sales *
mil. of dol.
Durable goods stores *
do...
N o n d u r a b l e goods stores *
do...
B y kinds of business: *
Apparel
...do...
Automotive
do...
Building materials and hardware
do...
Drug
do.._
Eating and drinking
do...
Food s t o r e s . .
do...
Filling stations
do—
General merchandise
do—
House furnishings
do
Other retail stores
.
do
4,446
840
3,605
2,083
2,213
2,255
2,217
2,366
2,231
2,675
2,594
2,553
4,821
47,001
4,702
47, 643
4, 636
47, 573
4,932
50,413
5,207
53,186
4,931
50,334
5,826
57, 537
5,743
58, 379
5,317
59, 823
14, 516
116, 275
14,833
122,895
31,202
3,824
30,637
3,887
4,606
1,484
' 3,128
4,509
1,383
3,126
14,567
14, 795 17,084
122, 493 128,836 149,199
30,442
3,712
33,087
3,948
36,948
4,424
5,411
5,673
59, 542
59,746
15,464
14, 525 19,134 17,093
17, 557 15,707
15, 256
134,759 149, 204 135, 685 138,264 210, 702 164, 302 137,629
33, 805 48,802 32, 567 30,534
34, 503
0)
0)
4,152
3,821
3,919
6,161
4,398
0)
0)
4,638
4,480
4, 675
4,534
1,258
1,062 1,128
1,067
3, r - - 3, 418 | r 2, 546 ' 3,467
5,473
1,237
4,236
' 4,248 ' 3, 760 ' 4,410
'803
'693
'792
' 3, 456 ' 3, 067 ' 3, 607
253
334
393
387
388
557
290
376
804
617
445
528
518
522
'239
'320
346
353
360
366
312
331
249
266
155
159
158
156
159
211
152
163
355
383
383
393
384
409
363
381
1,050
1,063
1,052
1,125
1,090
1,218
1,090
1,216
342
349
322
318
289
290
'240
'268
549
661
706
724
735
1,106
541
613
197
245
202
200
194
261
170
171
459
473
458
465
-•478
568
'425
'475
r
Revised.
§Include.s data for radio advertising not available separately since November 1940.
fRevised series. Data beginning 1926 for the index of nonfarm foreclosures are shown on p. 26 of" the October 1941 Survey. Earlier revised
tions, electrical household equipment, household equipment, house furnishings, and "all other" will be shown in a subsequent issue.
*New scries. For data beginning 1935 see table 15, pp. 24 and 25 of this issue.
354
263
35:
182
438
1, 248
279
649
17C
506
300
891
339
149
344
997
311
601
203
'470
6,997
87,793
440
'246
316
167
411
1,180
'270
680
203
'505
' 4, 531
'859
' 3, 672
406
' 239
373
170
422
1,220
'273
700
206
' 520
'4,499
'858
> 3, 6^1
':363
'i249
'370
I" 182
'"443
d, 237
'290
'659
'192
'514
* Discontinued,
data for radio classifica*
August 1942
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
S-7
SURVEY OF CURRENT BUSINESS
1942
June
1941
June
July
August
1942
SepOetotember i ber
Novem- December
ber
January
February
March
April
May
'
'
'
'
'
'
'
'
'
'
'
'
DOMESTIC TRADE—Continued
RETAIL TEADE—Continued
All retail stores, indexes of sales:*
Unadjusted, combined index...1935-39=100-Durable goods stores
do
Nondurable goods stores
do
Adjusted, combined index
do
Durable goods stores
do
Nondurable goods stores
do
By kinds of business, adjusted:*
Apparel
-do
Automotive
do
Building materials and hardware
do
Drug
do
Eating and drinking
do
Food stores
do
Filling stations
do
General merchandise.
do
House furnishings
do
Other retail stores
do
Automobiles, value of new passenger-car sales:T
Unadjusted
1935-39=100-.
Adjusted
do
Chain-store sales, indexes:
Chain-store Age, combined index (20 chains)
average same month 1929-31 = 100.Apparel chains
__do
Drug chain-store sales:*
Unadjusted.
1935-39=100..
Adjusted
.do
Grocery chain-store sales:!
Unadjusted
..1935-39=100..
Adjusted
do
Variety-store sales, combined sales, 7 chains:!
Unadjusted..
1935-39=100..
Adjusted
do
Chain-store sales and stores operated:
Variety chains:
S. S. Kresge Co.:
Sales
thous. of dol
Stores operated
._number- _
S. H . Kress & Co.:
Sales
thous. of doL.
Stores operated
number..
McCrory Stores Corp.:
Sales
thous. of dol._
Stores operated
number..
G. C. M u r p h y Co.:
Sales
.thous. of doLStores operated
number..
F . W . Woolworth Co.:
Sales
thous. of dol._
Stores operated
number, _
Other chains:
W . T . Grant Co.:
Sales
__.thous. of dol._
Stores operated
number. _
J. C. Penney Co.:
Sales
thous. of dol_.
Stores operated
number.
Department stores:
Collections and accounts receivable:
Installment accounts:
Index of receivables*.Dec. 31, 1939=100..
Collection ratio
_ .percent..
Open accounts:
Index of reeeivables*-Dec. 31, 1939=100
Collection ratio
percent-.
Sales, total U . S., unadjusted...1923-25=100..
Atlantat
1935-39=100..
Boston
1923-25 = 100..
Chicagof
1935-39=100-.
Cleveland
—1923-25=100. _
Dallas
do
Kansas City
1925=100..
Minneapolis!
1935-39=100..
New York
1923-25=100..
Philadelphia!
._ .1935-39=100Richmond*
do
St. Louis
1923-25 = 100..
San Francisco!
1935-39=100.Sales, total U . S., adjusted!
1923-25=100..
Atlanta!
1935-39=100..
Chicago!—
do
Cleveland
1923-25=100..
Dallas
do
Minneapolis!.
1935-39=100..
New York
1923-25=100Philadelphia!
1935-39=100..
Richmond*
do
St. L o u i s . .
1923-25=100..
San Francisco!
1935-39=100..
Installment sales. New England dept. stores
percent of total sales..
r
137.3
105. 8
147.5
135. 4
100.0
146.9
146.0
190. 3
131.7
139.0
163.9
130.9
136.6
172.1
125.1
144.7
169. 5
137.0
141.0
155.6
136.3
150.5
163.5
146.3
140.9
137.2
142.1
136.4
137.8
135.9
139.3
137.7
139.8
132.3
128.4
133.6
145.8
139.6
147.8
140.1
134.1
142.0
166.0
153.9
169.9
136.3
135.4
136.6
' 127. 9
'97.9
' 137. 6
' 147. 8
' 119. 6
' 156. 9
' 125.4
'94.2
' 135. 5
' 141.8
'113.5
' 151. 0
'
'
'
'
'
'
142.7
62.1
152.5
155.6
174.1
156. 3
121.2
127.3
124.6
154.3
125.7
172.9
152.7
127.6
136.7
129.7
135.5
122.7
149.9
149.1
136.8
173.4
161.4
132.3
141.4
130.2
152.5
130.8
165.9
153.6
165.6
154.8
164.9
137.5
146.6
139.0
144.1
147.0
181.2
156.6
140.8
116.3
161.0
134.0
147.5
132.3
143.4
131.0
149.0
145.4
123.3
112.4
155.3
131.0
145.6
136.2
144.7
120.2
135.2
142.6
145.9
116.4
156.6
139.2
148.7
143.4
142.5
132.9
149.7
148.8
132.1
119.2
164.0
135.8
147.8
140.8
141.0
123.5
138.6
141.7
176.9
73.2
178.1
141.7
152.8
155.3
' 155. 4
148.5
168.2
' 171. 4
157.9
60.4
179.8
138.7
156.9
150.4
' 152. 9
139.8
167.0
' 168. 0
171.4
'56.3
174.7
141.7
157. 5
150.9
' 138. 9
138.4
176.0
' 164. 7
152. 5
'56.5
175.4
146.5
166.1
153.1
' 134.3
136.2
149.8
' 160.1
' 146. 8
' 56. 8
' 162. 0
' 151.7
' 172. 3
' 155.8
' 130. 4
' 130. 7
' 132. 5
' 161.2
214
182
169
196
91
104
57
57
100
93
114
128
104
162
171.0
172.0
133.0
136.3
141.0
159.0
151.0
184. 0
147.0
164.0
146.0
153.0
151.0
162.0
157.0
178.0
164.0
188.0
165. 0
178.0
169. 0
208.0
164.0
174.0
170.0
181.0
129. 0
136. 0
109.7
116.1
109.9
115.3
113.9
119.9
113.5
118.2
111.6
110.0
116.9
116.4
164.9
121.3
120.7
126.0
110.8
118.5
124.4
125.0
124.6
128.9
' 129. 3
r 133. 4
173.6
171.1
142.6
140.4
140.6
143.4
143.9
149.9
145.0
147.9
153.4
152.6
155.6
155.6
164.7
159.9
170.4
175.7
170.0
169.1
170.0
168.3
175.2
170.1
170.7
168.2
129.1
136.2
111.3
116.8
111.9
122.2
113.1
128.9
120.4
125.3
122.0
123.9
130.7
127.0
249.6
113.9
97.0
132.3
108.1
136.1
116.1
133.6
123.1
127.1
' 130.2
' 135. 1
14,536
673
12, 127
672
12,016
672
13, 366
671
12,809
671
14,102
671
14,832
674
27, 515
675
11,854
673
11, 750
671
13.174
671
14,437
672
14,219
674
9,105
246
7,724
242
7, 582
242
8,022
242
8,483
242
8,427
242
8,458
242
17,376
242
7,274
242
7,203
242
8,503
243
8,640
244
8,573
244
4,833
203
3,923
200
3,948
201
4,320
201
4,164
201
4,422
201
4,655
201
9,398
202
3,819
202
3,739
203
4,373
203
4,788
203
4,749
203
6,205
207
4,931
204
4,971
204
5,379
204
4,870
204
5,575
204
5,608
205
10,898
207
4,804
206
4,469
206
5,091
206
5,934
207
6,13ft
207
33,025
2,011
27,653
2,018
28,398
2,018
30,713
2,019
30,097
2,018
32,614
2,025
33, 776
2,024
62,498
2,024
28, 345
2,021
27, 466
2,019
30, 266
2,017
33,136
2,013
32,660
2,011
12, 222
494
9,537
493
8,730
493
10,070
493
10,063
493
11,864
493
12,174
494
23, 518
495
8,983
496
8,417
496
10, 470
495
12,363
494
12,200
493
38,457
1,609
28,403
1,593
26,145
1,593
32,403
1,596
33,648
1,598
38,711
1,603
40,417
1,605
59, 520
1,605
30, 589
1,606
25,407
1,607
32, 348
1,608
36, 531
1,609
37,170
1, 609
102.6
17.7
101.2
17.6
107.6
18.8
110.5
18.9
110.4
19.3
110.4
19.2
116.4
20.1
108.8
20.2
104.8
19.7
103.3
21.7
99.6
21.4
91.8
22.0
79.4
46.2
100
114
82
r
121
105
110
'86
114
'97
'117
'127
92
126
104
134
' 124
107
123
115
'101
'123
138
100
136
71.0
46.1
79
102
63
92
85
93
79
93
81
89
109
82
120
115
148
131
117
132
131
114
135
154
119
144
78.0
45.0
106
144
82
122
120
128
106
127
100
115
140
106
154
134
163
154
145
166
145
134
155
185
141
168
90.6
45.1
125
158
100
151
130
151
114
142
125
134
154
128
156
116
146
137
124
136
124
120
125
151
120
149
92.5
46.9
112
138
98
123
109
127
106
140
112
136
165
119
145
105
125
117
105
113
117
98
119
134
106
138
93.5
48.6
133
169
103
146
136
150
106
123
130
168
168
133
158
116
154
133
127
134
123
109
132
160
114
151
117.7
46.3
197
245
165
213
197
222
183
198
194
238
265
190
235
111
140
126
115
128
127
107
127
142
115
138
100.3
50.3
108
123
99
121
112
122
100
122
104
115
128
110
129
138
159
154
149
161
152
132
161
182
138
167
88.0
45.2
99
122
74
114
103
108
85
95
94
117
114
101
132
126
141
135
130
127
134
116
157
165
117
166
89.1
46.1
118
152
94
136
126
129
110
125
106
140
161
125
148
124
152
141
139
133
124
120
149
165
130
161
90.6
' 47.0
115
148
93
133
128
127
111
130
106
132
155
120
148
117
153
134
121
131
129
110
147
156
120
157
83.7
50.4
108
142
89
124
113
' 126
101
111
99
'128
147
108
142
108
144
123
105
r 126
112
103
'130
147
108
147
11.8
17.4
12.0
10.8
8.9
6.3
11.4
9.2
8.4
9.5 !
r
10.5
135. 0
100. 0
146. 3
141. 2
111.5
150. 8
139.8
108. 0
150. 1
139. 0
107. 3
149. 3
140.3
109.9
150.1
137. 3
100.8
149. 1
Revised. * Preliminary
! Revised series. For data on value of new passenger-car sales beginning 1929; and an explanation of the revision; see pp. 18-20 of the August 1941 Survey; seasonal factors
have been revised beginning August 1941 to take into account resricted production. Compilation of this index has been suspended. Revised data on grocery chain-store sales
indexes will appear in a subsequent issue. Revised indexes oi variety store sales beginning 1929 appear in table 30, p. 10 of the August 1940 Survey. Indexes of department-store sales in Atlanta, Minneapolis, and San Francisco districts revised beginning 1919, and Chicago and Philadelphia beginning 1923: for Atlanta, see table 53, p. 16,
of the December 1940 Survey; for Minneapolis, table 20, p. 18 of the May 1941 Survey; for Philadelphia table 18, and San Francisco table 17 on p. 26 of this issue; revised
Chicago data will appear in a subsquent issue. For revisions in adjusted index of United States department-store sales for 1935-39, see note marked with a " ! " on p . 25 of the
January 1941 Survey.
*New series. For earlier data beginning 1935 for indexes of sales of retail stores, see table 5, p . 24 of the October 1941 Survey. For data on drug-store sales beginning July
1934, see table 1, p . 11 of the November 1940 Survey. Indexes of department store receivables beginning January 1940 are available on p. S-7 of the September 1941 Survey.
Data beginning 1923 for the new indexes of department-stores sales for the Richmond district are shown in table 16, p. 25 of this issue.
S-8
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1942
1941
June
September
June
August
July
August 1942
1943
October
Novem- December
ber
January
February
March
April
May
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
D e p a r t m e n t stores—Continued.
Stocks, total U . S., end of m o n t h :
Unadjusted
•_
1923-25=100..
Adjusted
do._..
Other stores, installment accounts and collections:*
I n s t a l l m e n t accounts outstanding, end of mo:
F u r n i t u r e stores
D e c . 31, 1939=100 Household appliance stores
do
Jewelry stores
do
Ratio of collections to accounts at beginning
of m o n t h :
F u r n i t u r e stores
percent-Household appliance stores
do
Jewelry stores
do
Mail-order a n d store sales:
Total sales, 2 companies
thous. of d o l . .
M o n t g o m e r y W a r d & Co
do
Sears Roebuck & Co
do
Rural sales of general merchandise:
Total U. S.. unadjusted
1929-31=100 .
East
do.-.South
do
Middle West
do....
Far West
do
Total U. S., adjusted
do....
East
do
South
do
Middle West
do....
Far West
do
73
82
84
87
108. 6
116. 2
94.2
108. 5
118.2
93.3
112.5
121. 7
94.2
10.8
10.4
16.7
11.0
10.2
16.3
117, 597
48, 476
69, 121
131,439
52, 872
78, 568
121, 175
48, 305
72, 870
160. 3
162.9
179. 4
144. 0
203. 6
176. 0
177.4
223.1
152.5
213. 7
148.7
103. 2
129.7
151.1
134. 1
120.9
131.6
177.7
212.2
197.5
163.9
100.5
M66.6
' 142. 5
143. 6
163. 2
177.7
r
207. 2
MfiO.P
150. 7
I
',
!
|
;
i
!
!
97
102
' 129
' 126
122
117
108
97
110
95
92
111.2
120.4
98.3
110.0
117. 1
95.7
108 9
112 5
98. 4
110 0
110 1
122 9
104.9
103. 3
110.9
11.2
10.8
17.8
11.8
11.2
17.7
11.4
11.7
23. 2
12 0
11.4
18. 9
11.4
11.4
17.5
12.5
12.7
18.8
i2.6
12.5
19.1
13.3
12.5
19.9
145,519 i 145,495 164,394 152.308 j 204.339 j 111,481
57,803 , 59, 780
68. 138 | 63, 345 j 85.269 j 41, 854
87,716 j 85,714 I 96,256 j 88.963 | 119,069
69, 627
99. 640
37.9G9
61,671
131,894
55, 856
76, 038
133, 905
57, 604
76, 301
119, 117
50, 762
68, 356
151. 1
101.0
199.3
129. 6
135.9
186.8
196. 9
218.5
163.0
1S3. 6
185.6
204.9
224.0
165. 2
194. 5
211.4
228. 2
248. 1
186.4
236. 3
175.6
183.3
202.0
155. 9
200.1
191.1
192.4
229.3
169. 0
224.0
164.8
171.7
118.0
146. 6
188.8
179. 5
186. 6
221. 7
154. 8
210. 0
11.7 |
10.4
17.4 ;
170. 7 !
186.0 |
183.9 :
153.3 !
194. 7 :
208. 7 j
233.3
25a. 0
185.8
211.4
95 ;
92 |
183.8
181.9
239.8 I
158.8
221.2 !
173.9
185. 1 I
217.2
154.9
189. 1
216.4 j
221.8 !
299.9 |
187.7 !
223.0
166.6 ;
172.3 !
202.4 J
147 8 i
185. 7 ;
11.5
10.8 j
18.4 i
243.2 j
269.1
330.3 I
209.6
235.7
186.9
208.8
240.6
159.9
194.3
287.9
320. 3
341.1
254.9
319.9
180.1
192.4
227. 1
163. 4
196.0
151.5
162 8
173 ,B.
136 6
166 6
199 0
214.2
21:>. 3
178. 5
226 7
101.8
mo. 3
'.02 4
96.6
84.4
87.5
100.8 ! 99.7
95.8 i 90.8
97.6 ! 93.4
EMPLOYMENT CONDITIONS AND WAGES
EMPLOYMENT
E m p l o y m e n t estimates, unadjusted (U. S. Dep a r t m e n t of Labor):*
Civil nonagricultural e m p l o y m e n t , total
thousands..
Employees in nonagricultural establishments, total
thousands..
Manufacturing
_
.do
Mining
do
Construction
do
T r a n s p o r t a t i o n a n d public utilities.do . . .
Trade
.
do . . .
Financial, service, a n d misc
do
Government
do .
Military a n d naval forces
do
E m p l o y m e n t estimates, adjusted (Fed. Res.):*
Civil nonagricultural e m p l o y m e n t , total
thousands
Employees in nonagricultural establishments, t o t a l .
thousands..
Manufacturing
_do
M i n i n g . . . ....'
._
do ..
Construction.
do..
Transportation and public utilities do
Trade
do. _.
Manufacturing, unadjusted ( U . S. D e p a r t m e n t
of Labor)t
1923-25=100..
Durable goodsf
do
Iron a n d steel a n d their products, not including machinery
1923-25=100. _
Blast furnaces, steel works, a n d rolling
mills.
1923-25 = 100..
Hardware
do
Structural and ornamental metal work
1923-25 = 100-.
T i n cans a n d other tinware
do
Lumber and allied products
do...
Furniture
do
L u m b e r , sawmills
do
Machinery, excl. t r a n s p . e q u i p m e n t , .do
Agricultural implements (including tractors)... . . . .
1923-25 = 100
Electrical machinery, a p p a r a t u s , and
supplies
1923-25 = 100
Engines, turbines, water wheels, nnd
windmills
1923-25^ 100
Foundry and machine-shop products.do
Machine tools*
.1 do . . .
Radios and phonographs.
do
Metals, nonferrous, and products
do..
Brass, bronze, a n d copper products.do . . !
Stone, clay, a n d glass products
do . . . i
Brick, tile, and terra cotta
do
j
Glass..
.
do
j
Transportation e q u i p m e n t f
do
!
Aircraft*
do_
Automobiles
..._do_.
Shipbuilding*
do..
r
41, 415
39,475
39,908 j 40,292
33,332
12,154
876
1,816
3, 239
6,861
4. 260
4.126
1. 740
33,765
12, 391
888
1.895
3,290
6,837
4,300
4, 164
1,857
34,149
12, 595
900
1,921
3,326
6,897
4. 300
4.210
1.944
40,710 ; 40,783 ! 40,756
•11,080
39, 877 | 39, 094 !
34,567
12, 777
906
1,936
3,367
7.008
4,325
4,248
1.992
34. 037
12. 734
908
1,874
3.296
7,511
4, 227
4,387
()
33,734 |
12.606 i
876 '
1.660
3.252 '
6.756 '
4 179 I
4.405 •
34,640 j 31,613
12. 763
12, 805
911
915
1,961
1,960
3,322
3, 365
7,146
7.070
4, 229
4, 256
4,281
4, 269
2,071
2, 014
T
40, 391
34, 248
33, Sol '
r
12, 844
12, 724
860
860
1,738
1,645
3, 277
3, 249
6,711
6.686
4,195
4,181
4,623
4. 506
40. 874
r
41, 263
34, 731 r 35,120
12, 945 ' 13, 046
861
"860
1,928
' 2, 077
3, 343
' 3, 385
r
6,679
6, 667
4, 266 ' 4, 309
r
4,709
4, 776
(a)
(a)
41,174
39.296
39.903
40.101
40.016
40, 603
10. 905
40,90r, i 40.910
40, 937
40, 972
r
35, 031
13, 207
865
1,850
2, 396
6, 586
33.153
12. 221
889
1,644
3,220
6, 865
33, 760
12.605
914
1,668
3, 264
6,944
33. 958
12.615
923
1, 666
3, 302
7.027
33,873
1 1>. 548
908
1,683
3,303
6,968
34, 0 19
12, 599
892
1,77'.'.
3, 292
6,989
34, 460
12. 73.5
892
1.924
3, 310
7, 013
34. 702
12. 789
892
2. 156
3, 322
7 017
34, 794
12,818
851
2,057
3, 325
6,812
34, 829
12, 895
879
2,003
3,358
6,690
' 34, 994
' 13, 035
r
870
' 1, 961
r
3, 391
r
6, 695
138. 4
155. 8
127.9
135.1
130 6
137.6
133. 1
138. 7
135.2
142.1
135. 4
144.0
134. 8
144. 6
131. 2
144.2
' 135.1
147. 5
r
136.1
137.7
139. 9
140.5
34. 763 ,
12,863 i
873 !
2,064 j
3,322 !
6,907 !
j
132.5 !
143.3 |
I
152.2
92. 4
144.0
118.3
147.2
103.8
149. 1
113.2
148.9
116.0
147.9
115.2
147.8
112. 9
148.6
105.7
118.3
102. 1
73.5
94.8
65. 6
203. 5
105. 5
132.0
76.8
103.8
67. 1
167. 7
107.4
138.8
79.5 i
105. 6
70.0
172.3
110.0
145.3
81.0
108.4
70.7 :
176.5 :
109. 5
145. 0
80.4
107. f)
70.4
178. 6
109. 3
130.1
79.8
107.4
69.5
180.1
107. 5
135.0
77.9
108. 4
66. 4
181.4
106.0
134. 4
76.6
106.8
65. 3
183. 4
148.7 I
98.6 ;
105. 7
136.7 i
74. 1 i
101.9 i
63.7 i
185 0 ,
166. 7
I
171.8 j
171.4
172 0 ;
170.7
169.9
167. 5
167.2
163. 8
167.4
168. 7
168.8
109. 2
0)
0)
165. 0
(0
189.0
146.5
(')
93. 6
69. 5
121.3
267. 9
0)
92.1
135. 8
34,767
12. 826
852
2.091
3. 313
6, 862
133.8
145. 1
r
135. 9
41, 137
136. 1
149.9
r
r
137.1
152. 5
135. 3
M34.8
149. 4
94.3
150.0
94.8
150. 9
92.3
r 151.5
'89.4
107.2
130.9
74.3
102.4
64.0
189.7
110.4
115.9
74.1
101.1
64.2
193.9
114.0
111.2
' 73.4
97.2
64.6
197.7
' 115. 6
' 107.9
' 73.3
r
96.2
r
64. 8
<" 200. 5
164. 1 I 166.2
169. 1
167. 4
r
\m 3 :
158.8
!
285. 5
298.3
139. 1
142.6
338. 5
346.0
180 7
188.7
141.9
143. 1
189.3
189.7
97.1 |
99.6
74.7 |
77.6
125.5 I 127.9
177.8 j
179.0
6, 718. 1 j'.231.3
126.9
134.8 I
375. 3
337.9 I
339 5 |
314.7 s
325. 0
147.8 !
147.0
145.6 i
361.5 I
356. 8
351. 5
217 9 ;
212.5
202.4
146.4
145. 5
147.4 !
193.5
192.9
193.5 '
101. 8
102.0 j
101.3
79.1 i
79.4
130.3 I 132 4 '
130.0
190.fi
203 2 I
] 72. 0
', 897. 3 8,515.7 I 9. 169.7
121. 1 ; 128.9
110.9
442.5 ! 494.6
388.3
352. 5
148.8 j
366.9 !
217. 6 j
146. 1 I
C1)
0)
150. 4
(0
218. f,
145. 1
101.5 |
99 ;
76 2
74 2
133 1 I 132. 0
210. 4 ! 208. 9
, RV. 1
129. 7
H.6. 9
i\ \
533. 3
i
(0
0)
152 1 i 154. 8
iv) !
20y. 4 ! 0)
206.5
144.5
145.9
95.6
93. 9
69.6
"7. 6
127.8
12f>. 1
T
21U.3
216. 0
('/
(0
100 2
88.8
0)
0)
0)
157. 3
160. 3
0)
210.4
147.4
(0
94.3
68.3
126.1
r
224. 8
0)
166. 9
0)
(0
0)
'\62.8
(0
r
208. 9
r
144.3
196. 4
r 144.5
95.4
' 70.4
r
125. 6
r
237.2
'94.3
r
70.6
' 123. 6
251.7
0)
86.2
84.1
0)
0)
0)
0)
r
87. 6
0)
Revised.
° N o t available for publication.
P Preliminary.
' Included in total and group indexes, b u t not available for publication separately.
fRevised series. For revised indexes, beginning in 1937 for all industries and J a n u a r y 1938 or durable goods, see table 12, p . 18 of t h e M a r c h 1941 Survey. Index for
transportation e q u i p m e n t revised beginning J a n u a r y 1939; see table 57, p . 17 of the December 1940 Survey.
*New series. Indexes of installment accounts and collection ratios for furniture, household appliance, and jewelry stores beginning J a n u a r y 1940 will be shown in a subsequent issue. D a t a for mining, construction, transportation and public utilities, Government, and military and naval forces are correct as published in table 11, on p p . 17
and 18 of t h e M a r c h 1941 Survey. Estimates of total civil nonagricultural employment, employees in nonagricultural establishments, manufacturing, and service industries
(included in t h e miscellaneous group) have been revised beginning J a n u a r y 1929 and trade beginning J a n u a r y 1935, to adjust m o n t h l y estimates to t h e 1939 Census levels of
employees in manufacturing concerns engaged in clerical, distribution, or construction activities, and retail trade employment, and to figures shown b y t h e 1930 Census of
Occupations; the revised data will be published later. Adjusted estimates of employment beginning J a n u a r y 1929 will be shown in a subsequent issue. For indexes beginning
1923 tor machine tools and shipbuilding, and index for 1931 through 1938 for aircraft, see tables 39 and 40, p p . 15 and 16 of t h e October 1940 Survey; fo.r aircraft indexes (revised)
for 1939, see table 57, p . 17 of t h e December 1940 Survey.
S-9
SURVEY OF CURRENT BUSINESS
August 1942
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1942
June
1941
Tiinft
June
Tnlv
July
Amrnst
August
Se
P"
tember
1942
Oct
°ber
NovemDecember
ber
April
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT—Continued
Mfg., unadj. (U. S. Dept. of Labor)—Cont.t
121.9
123.0
Nondurable goods!
1923-25=100-.
123.0
127.3 - 125.4 124.8 I 122.1
123.9
127.7
128.7
121.1
123.2
Chemical, petroleum, and coal products
156.3
149.8
140.0
143.1
147.6
137.5
149.9
149.7
151.1
154.9 ' 158. 5
1923-25=100-.
158.8 ' 157.1
195.4
185.3
175.9
180.1
182.4
172.2
183.8
185.4
Chemicals
do
192.5
185.9
188.7
193.2 ' 193. 5
131.2
142.6
145.5
144.8
143.9
144.8
143.9
142.2
Paints and varnishes.
do
140.7
140.9
141. 0
138.7 ' 136. 2
129.1
127.4
127.9
128.5
125.2
129.2
129.2 ! 129.1
Petroleum refining
do j 133.1
130.8
129.6
131.6 -131.9
322.9
324.4
329.3
327.0
327.0
325.0
321.1
Rayon and allied products
do 1 314.5
313.2
315. 9
312.6
310.4 ' 312.1
145.9
145.8
159.3
163.2
135.2
152.5
141.0
Food and kindred products
-do ; 141.2
132.8 ' 135. 5
135.4
133.5 "131.7
153.7
150.2
152.7
153.5
152.2
154.5
151.5
Baking
do j 153.4
150. 3
149.5
150.0
149.6 ' 150.8
129.9
123.1
122.4
123.6
120.3
125.9
138.1
Slaughtering and meat packing
d o . . . j 143.6
134.0
134.0 ' 138.2
143.8
137.8
97.1
101.0
101.1
99.2
98.9
98.1
98. 5
96.7
Leather and its manufactures
do... ;
101.9
98.9
100.2
100.5
98.7
94.2
95.2
95.2
94.7
98.1
98.3
94.9
92.3
Boots and shoes
do... :
98.6
97.4
'95.7
95.4
96.6
128.3
124.9
126.5
123.0
123.9
121.6
126.7
Paper and printing
do... i 117.4
121.9
124.7
123.3
121.1 ' 119.4
129.1
128.4
128.2
126.0
127.8
124.6
128.7
Paper and pulp
d o — j 125.9
129.7
129.8 ' r128.4
129. 5
129.6
96.9
110.3
111.5
111.6
111.4
111.8
110.7
111.2
Rubber products
do... j
98.9
99. 6
98.9
95.2
95.5
78.8
84.9
87.4
86.5
86.0
Rubber tires and inner tubes
do !
86.7
86.1
86.3
74.2
74.1
'75.8
75.2
73.5
113.0
113.2
115.5
114.9
115.4
113.4
112.6
Textiles and their products!
do.-.J 109.0
113.5
113.1 ' 111.8
111.1
113.0
106.2
107.0
106.3
106.4
106.9
106.1
106.2
Fabricsf
do 1 104.7
105.0
105.3 ' 104.8
105.1
104.9
123.2 I 119.7
122.2
131.3
129.0 j
129.6
124.9
121.9
Wearing apparel
do j 113.8
126.0 ' 122. 7
126.4 ' 127. 6
63.7
67.5
65.4
63.9
67.3 I 68.4
65.8
65.5
Tobacco manufactures
do j
65.4
64.4
'62.7
63.4
65. 5
134.9 S 135.7
133.3
132. 3
132.8 i 134.4
133. 3
128.7
Manufacturing, adjusted (Fed. Res.)t
do j 139.1
134.7
135.4 T 137. 0
135.1
140.2
141.3
142.3
143.7
144.3 I 146.7
141.5
134.0
146.9
Durable goodst
do j 154.5
148.1 r 150. 3
146. 8
Iron and steel and their products, not in- ;
138.9 j 139.0 ' 136. 5
136.0
139.1
134.1 ' 133.9
140.2
139.7 | 138.2 138.3
134.7
eluding machinery
1923-25=100-.! 135.1
Blast furnaces, steel works, and rolling j
153
149
149 |
149
151
148
148
150
149
150 I
149 i
148
mills
1923-25 = 100 j
14. |
92
114 |
94
116 j
115
110
105
118 j
113
94
'89
Hardware
do 1
91
117 i
Structural and ornamental metal work
117
112
107 !
116
105 !
107 j
106 j
104 !
107
107
108
' 116
113
1923-25 = 100.-j
100
141 !
115
132 |
132
129
127
138
141
147
110
131 j
122
Tin cans and other tinware
do \
r
72.5
77.3
75.9
76.4
78.1 j 79.2
76.9
' 73. 2
78.9 I 78.4 !
75. 4 ! 73.9
77.9
Lumber and allied products
do
97
106
101
105 |
104
101
104
••100
108 i
107 |
103 j
106
103
Furniture
do j
63
65
64
67
68 !
64
68 !
68 i
67
70
68
68 j
'66
Lumber, sawmills
do !
167.3 | 173.0 ! 177.7 ; 177.8 i
197. 1 ' 199.1
Machinery, excl. transp. equipment-do
'
187. 1
190.8 ' 194. 3
179.3
181.2
183.4
Agricultural implements (including trac- I 202. 6
157
162
161
175 \
182 i
181 |
170 |
161
160
tors)
1923-25 = 100. _ j
180
172
165
167
j
Electrical machinery, apparatus, and sup- I
j
164
|
168
I
159
I
plies
1923-25=100 !
0)
0)
0)
0)
1
168 |
168
169
0)
Engines, turbines, water wheels, and ! C )
315
275
0)
windmills
1923-25=100 !
323 i
0)
0)
0)
0)
348
371
0)
0)
Foundry and machine-shop products
!
f
160
148
149
155
161
139
146
I
143
153
157
1923-25 = 100. |
1.7
I
165
150
360
365
366 !
337
349
Machine tools*
do j
(')
0)
0)
0)
0)
(0
355 !
193
194
179
184
191
187
220
235
Radios and phonographs
do j
'
2
250
206
249 r 2 3
183 I
147.9
144.1
142.2
147.8
Metals, nonferrous, and products
do j 145.7
146.8 ' 146. 5 ' 146.4
145. 2
143.4
144.8 ! 143.1
144.2
191
191
195 I
191
193
Brass, bronze, and copper products.do
j 0)
0)
0)
0)
0)
194 i 98.9
0)
C1)
100.9
98.4 {
98.6
93.7
90.4
Stone, clay, and glass products
do—i
105.0
100.1
'90.9
98.7
I
96.9
101.6
76
74
73
94.7
69
64
81
78
73
Brick, tile, and terra cotta
do ;
'67
74 ;
75
77
133
126
71
130 !
124
131
120
131
135
Glass
do |
'122
130
124
132
193.1 j
204.5
208.9
125
174.2
196.1
Transportation equipment!
do 1 264.5
210.1
'
214.
4
242.8
195.2
i
217.9
205.
4
7,897 |
9,799
227.9
6,522
7,160
Aircraft*
do.... i
0)
0)
0)
8,779 | 9,459
(})
0)
Qfi
0)
129
127
139 I
149
132
Automobiles
do !
»4
'83
90
128 I
111
79
81
532
487
387
398 |
341
Shipbuilding*
. d o j 0)
0)
0)
440
i
0)
0)
123.3
123.8
125.6
123.8
125.5 !
126.3
123.7
Nondurable goods!
do ;j 124.5
0)
125.2
123.8
I
'
124.
3
126.0
157.2
146.3 !
148.2
141.5
143.9
Chemical, petroleum, and coal prod..do
123.1
'151.8 ' 154.7
145.7 I 147.1
149.2
194 ' 159.0
192
184
181
179 j
172
173
Chemicals
do j 160.2
' 155.8
190
180
195
'
194
187
137
142 I
144
144
148 I
140
145
Paints and varnishes
do j
194
145
145
127
131
144
131
132
129
128
127
125
127
Petroleum refining
do ;
141
130
127
132
'133
129
308
317
320
323
328 !
326
337
Rayon and allied products
do I
132
313
324
324
'318
320
142.3
r
147.
6
140.7
140.9 |
147.0
137.3
138.4
Food and kindred products
do [ 143. 2
309
148.4
138.8
147.5
151 ' 143.4
152 I
152
152 !
152
151
149
144.3
Baking
do i
153
153
151
152
151
138
138
124 j
126
127
121
123 |
152
Slaughtering and meat packing
do,., j
139
144
125
133
'140
98.1
96.3
99.6
97.9 i
104.2
137
101.0
100.2
Leather and its manufactures
do ; 100.1
98.8
98.0
103.1
100.0
95
92
96
94
!
97.4
101
98
97
|
Boots and shoes
do j
95
98
94
100
97
121.5 I
123.4 I
124.9
93
125.1 j
124.8
122.9
124.8
Paper and printing.
do I 118.6
125. 2
124.4
125.9
130 | ' 119.7
130 ! 122.4
128
128 ;
129
125
126
Paper and pulp
do j
130
126
128
129
128
94.4
|
98.7 j
130
110.1
110.1
111.7
113.0 ! 113.3 j 111.6
Rubber products
do j
99.8
97.8
109.6
74 I ' 95. 2
74
98.1
86
87 '
86
86
87 j
75
Rubber tires and inner tubes
do j
79
87
85
'76
110.9
74
112.9
110.0
113.3
116.1
120.0 I 117.1 ! 114.7
112.0
Textiles and their products!
do | 112.4
113.2
104.8 ' 112. 3
109.4
105.4
102.2
105.1
104.1
109.0
111.1 i 109.6 ! 107.2
Fabrics!
do j 107.4
104.4
'
105.
5
119.7
102.7
124.7
122.8
126.9
125.1
127.0
135.0 I 128.8 I 126. 6
Wearing apparel
do j 118.5
128.2
65.8 ' 122. 6
120.0
64.1
66.7
69.2
65.0
65.8
65.7 ! 64.4 !
Tobacco manufactures...'
do
63.9
66.5
62.0
'63.6
66.1
Manufacturing, unadj., by States and cities:
State:
r
151.4
145. 2
142.5 ! 147.5 !i 137.8 ! 136.1
137.1
137.8 I 138.1
138.7 [! ' 139. 9
129.4
134.7
Delaware
1923-25=100-.
136.0
136.4
136.3
139. 1 ! 139.0 i 139.1 i 137.2 ! 137. 7
140.3 I 139.7
136.9
136.6
133.1
Illinois!
1935~39 = 100-_
158.5
153.4
156.0
153.3
161.5
159.1
!
158.2
!
154.5 I
160.1 j
156.6
161.7 I 162.8
154. 9
Iowa
1923-25=100-.
165.3
164.0
149.5 ! 153.4
157.4 I 160.7
138.9
142.8 I 144.3 I 145.4 ! 146.4 I 147.0
135.0
Maryland
1929-31 = 100.101.5
100.5
99.2
99.1
99.1 |
101.5 j 102.0 r 101.8
99.5 l ! 100.2 i 100.1 ! 100.4
97.6
Massachusetts
1925-27=100..
152.8
151.6
153.3
148.3
145. 8
144.4 I 145.3 j 145.7
150.1
138.4
136.9 | 145.3
136.0
New Jersey
1923-25=100.139. 4
145.2
144.0
143.4
138.9
131.1
145.4
138.0 ; 142.5 j 142.5 '
141.1 ! 141.2
129.2
New Yorkf
..1935-39=100..
r
142.8 r 144.0
135.4
135. 3
140.9
134.6
136.6 ! 138.6 ! 137.5 ! 137.2 j 136.9
131.8
Ohiof
do
111.8
'113.0
112. 9
113.7 ' 106. 8
110.3
108. 7
112. 5
110.3 | 110.6 I 110.9 '
111.0 j 111.5
Pennsylvania..
1923-25= 100..
125.7
131.2
129.6
124.9
127.4
122.4
124.7 ! 126.4 I 126.7 i 126. 5 j 126.6
121.7
Wisconsin!
1925-27=100. _ 133. 2
|
!
City or industrial area:
161.2
165.4
164.2
154.1
157.7
149.8
132.9 | 137.3 j 141.7 I 143.7 i 144.8 j 146.2 ! 146.9
Baltimore
1929-31 = 100.137.6
136.1
136.6
139.0
137.9
139.1
130.8 I 135.8 I 138.1 I 138.4 ! 139.4 i 140.2 I 140.6
Chicago!
1935-39=100-141.0
142.7
146.0
137. 7
139.6
133.4
134.3 I 130.3
128.5 ! 130.1 I 132.7 ! 134.1 j 134.2
Cleveland
1923-25=100.115.7
118.6
127.1
104.6
111.0
97.4
102.7
115.0
117.3 i 119.0 !
96.0 I 116.0 !
119.6 '
Detroit
do
141.8
144.9
147.8
135. 1
137.6
134. 3
135.9 I 134.9 | 135.8
131.3 i 130.2 | 135.4 i 136.9
Milwaukee
1925-27=100..
131.9
128.3
129.8
116.5
132.4
121.9
130.1 ! 126.3 ! 126.7
114.5 i 114.6 I 125.6 i 130.5
New York!
.1935-39 = 100. _
123.8 ' 125. 4
120.3
122.8
126.9
117.6
109.1 ! 110.5 I 111.8 I 114.3
116.3 | 118.1 j 118.7
Philadelphia
1923-25=100..
119.4
118.8
118.5
110.3
119.3
118.
5
120.1
117.1
118.0 ! 118.4 I
112.9 i 115.6
117.1 j
Pittsburgh
do
128.1 r 130. 8
127.5
127.8
127.7
136.8
122.4 I 125.5 | 125.7
117.1 ! 120.0 | 120.9 i 122.4
Wilmington
-do
f
Revised.
i Included in total and group indexes, but not available for publication separately.
!Revised series. For revisions for all industries, durable goods and nondurable goods, see p. 18 of the March 1941 Survey. Index for transportation equipment revised
beginning January 1939; see table 57, p. 17 of the December 1940 Survey. Slight revisions were made in data for textiles and products and fabrics beginning 1933; revisions
prior to March 1939 which have not been published are available upon request. Revised indexes for Illinois beginning 1923 adjusted to census trends for the years 1923 through
1935 will be published in a subsequent issue. For revisions in Chicago indexes, see note marked with a "f" on p. 29 of the January 1941 Survey. Index for Wisconsin revised
beginning 1925; revised data not shown on p. 72 of the February 1941 Survey will appear in an early issue. Earlier monthly data on indexes beginning 1923 for Ohio factory
employment revised to 1935-39 base are shown on p. 17 of the March 1942 Survey. Earlier data for the revised New York indexes will appear in a subsequent issue.
*New series. For indicated series see note marked with an "*" on p. S-8 of this issue.
S-10
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1942
1941
June
September
June
July
August
August 1942
1943
October
Novem- December
ber
January
February
March
April
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT—Continued
Nonmfg., u n a d j . (U. S. D e p t . of Labor):
Mining:
Anthracite
1929=100..
Bituminous coal
do
Metalliferous
do
Crude petroleum producing
do
Quarrying and nonmetallic
do
Public utilities:
Electric light a n d powerf._
do
Street railways and bussesf
do
Telephone and telegraphf
do
Services:
Dyeing a n d cleaning
do
Laundries
do
Year-round hotels
do
Trade:
Retail, totalf
do
G eneral merchandisingt
do
Wholesale
do
Miscellaneous employment data:
Construction, Ohio!
1935-39=100..
Federal a n d State highways, total ^ . n u m b e r . .
Construction (Federal and State)
do
Maintenance ( S t a t e ) .
do
Federal civilian employees:
United States
do___.
District of Columbia
do
Railway employees (class I steam railways):
Total
.thousands..
Indexes: Unadjusted
1923-25=100..
Adjusted
do
45.8
92.3
81.8
58.1
52.0
49.2
88.1
78.9
61.5
51.9
49.3
90.3
79.0
62.1
52.7
50.0
92.6
79.9
62.2
53.9
50.0
94.2
79.4
61.8
54.2
50.3
95.3
79.7
61.6
54.1
50.2
95.1
79.5
60.9
52.6
49.1
95.5
80.2
61.1
50.9
49.0
95.1
80.7
61.3
46.8
48.8
94.5
81.0
60.6
46.7
"48.4
93.8
81.9
59.7
47.7
47.8
93.6
81.9
58.8
50.3
'48.2
'93.0
'82.2
'58.1
51.7
87.9
74.0
92.4
93.5
69.1
86.3
94.6
69.5
88.3
95.2
69.7
89.6
94.9
70.3
90.3
94.1
70.3
90.6
93.4
70.2
90.1
93.1
70.6
90.0
92.0
70.4
90.4
90.5
70.7
90.3
89.6
71.2
90.5
88.9
72.1
91.2
88.0
'72. 9
' 91. 7
129. 8
114. 2
95.2
122.7
112.0
95.0
121.7
115.8
94.5
118.9
114.6
94.5
121.5
113.0
95.7
121.2
111.2
96.2
117.2
108.9
96.1
113.3
108.4
95.3
109.8
108. 8
94.2
109.5
107.6
94.1
113.8
107.9
93.5
' 121.3
110.3
'95.2
' 127. 6
'113.7
' 96. 1
92,5
108.2
89.7
97.8
105.1
93.8
96.7
100.9
94.2
96.9
103.0
95.8
100.0
111.7
95.6
101.0
116.4
96.3
103.0
125.9
96.3
113.0
161.5
96.3
95.4
105.1
94.9
94.0
103.2
94.3
94.4
105. 9
93.9
'94.3
' 108. 6
' 92. 7
'94.0
' 109. 5
166.5
167.7
331,438 340,146
152, 691 158, 744
136,651 138,631
164.7
320, 301
149, 800
128, 415
162.3
300,381
135, 622
124, 523
157.2
270,202
111,755
118, 559
146.4
224, 762
75,131
110,311
125.6
194, 092
49,113
105, 920
125.1
131.9
183, 559 191. 444
44,852
52, 975
101, 087 102, 023
' 137. 7
218,037
72,420
105, 441
Tl42?l
197,907
90,103
107, 804
163. 0
318,436
142,185
134,896
1,370,110 1,391,689 1.444,985 1,487,925 1,511,682 1,545,131 1,670,922 1,703,099 1,805,186 11,926,074
184,236 185,182 186,931 191, 588 194, 265 199, 283 207, 214 223,483 233, 403 238, 801
r
1,970,969 2,066,873
248,100 256, 457
1,179
64.7
63.3
1,211
66.5
64.8
1,231
67.6
66.0
1,235
67.8
66.5
1,243
68.2
66.3
1,227
67.3
66.8
1,211
66.3
68.0
1.192
65.4
68.2
1,193
65.4
68.0
1,215
66.6
68.5
1,266
69.4
70.0
1, 296
71.1
70.3
41.7
41.3
41.0
40.3
41.2
41.0
41.6
40.9
41.7
41.1
41.5
40.3
41.6
41.2
42.4
41.5
42.4
42.2
42.7
42.5
42.8
42.4
42.7
42.6
357
571
439
635
465
698
470
687
432
664
271
464
143
287
139
222
' 174 |
'245
'217
'278
'255
'329
P 275
P375
143
227
1,504
143
226
1,326
212
305
1,825
295
358
1,953
198
348
1,925
228
339
1,397
30
59
476
26
42
327
57
75
353
66
78
'390
55
'84
'341
P325
5,126
1,623
624
4,982
1,597
630
4,699
1,446
671
4,356
1,396
1,108
4,229
1, 488
935
4,234
1,327
583
4,413
1,603
493
4,899
1,956
439
4,888
1,532
427
4, 559
1,567
511
4,398
1,576
606
' 4, 254
' 1, 565
'784
3, 576
3,623
3,045
2,650
2,548
2,597
3,618
4,584
4,103
3,977
3,512
' 2,970
684
30, 561
611
29, 307
572
26,494
493
22, 942
430
21,430
471
21, 066
523
27,847
797
41, 056
838
39,884
803
43,035
668
36,311
' 610
• 31.704
6.31
3.71
.26
1.03
2.42
6.00
4.24
.29
1.40
2.55
5.43
4.14
.30
1.13
2.71
5.16
4.53
.31
1.16
3.06
4.87
4.13
.28
1.41
2.44
3.91
3.51
.24
1.44
1.85
4.76
4.71
.29
2.15
2.27
6.87
5.10
,30
1.61
3.21
6.00
4.78
.29
1.35
3.14
6.99
5.36
.33
1.19
3.84
7. 12
6.12
.35
1.31
4.46
7.29
6. 54
.38
1.43
4.73
194. 5
237.6
152.2
173.9
152.7
172.2
158.1
177.6
162.6
183.3
167.0
191.4
165.4
190.3
169.9
195.4
173.5
204.3
178.3
210.6
' 182. 9
' 217. 3
' 186. 7
' 224. 0
' 191.8
' 232. 3
179.6
168.6
166.6
172.0
170.6
173.4
171.9
174.2
173.7
178.3
181.1
181.3
' 183. 7
187.0
141.6
179.9
150.2
181.6
123.8
183.3
145.7
178.4
148.7
181.1
151.5
183.2
147.4
185.0
137.7
184. 5
133.4
190.6
132.0
193. 5
' 138.8
192. 9
136.1
' 196. 6
' 135. 2
154.1
136.2
93.1
113.1
83.3
334.1
120.1
163.2
83.9
110.0
71.1
229.9
112.5
171.3
85.5
110.1
73.5
233.0
125.2
184.7
92.3
116.1
80.3
243.4
123.6
187.6
90.8
118.0
77.5
248.2
127.2
171.7
92.3
120.6
78.2
255.7
116.0
165.8
86.4
118.8
70.2
255.3
121.2
173.6
85.8
120.9
68.0
269.6
124.9
180.8
81.7
111.1
67.3
284.2
133.3
164.6
86.0
115.8
71.9
294.8
140.0
150.0
86.7
116.2
72.9
' 307. 1
' 145. 6
145. 4
'87.7
113. 9
75.0
315.3
149.2
' 141.3
'90.7
' 116.2
r 78# 7
262.9
233.3
228.4
227.5
230.7
231.6
223.9
219.0
228.8
241.1
'249.9
' 249. 6
72.4
70.8
LABOR CONDITIONS
Average weekly hours per worker in factories:
N a t l . I n d . Con. B d . (25 industries)..hours-_
U. S. D e p t . of Labor (80 i n d u s t r i e s ) . _ _ - d o . . . .
Industrial disputes (strikes and lockouts):
Beginning in month
number. In progress during m o n t h
_.
do
Workers involved in strikes:
Beginning in m o n t h
thousands..
P 100
In progress during m o n t h .
do
v 117
Man-days idle during m o n t h
do
* 550
Employment security operations (Soc. Sec. Bd.):
Placement activities:
Applications:
Active
file
t h o u s a n d s . . p 4, 280
New and renewed
_
_.do
v 1, 841
Placements, total t
do
P925
Unemployment compensation activities:
Continued claims
thousands.
P 3,155
Benefit payments:
p 553
Individuals receiving p a y m e n t s § . . d o
Amount of payments
thous. of d o L . p 30, 226
Labor turn-over in mfg. establishments:
Accession r a t e . . m o . rate per 100 employees. .
Separation rate, total
._
do....
Discharges
do
Lay-offs
do
Quits and miscellaneous
.do
POS
v 72
PAY ROLLS
Manufacturing, unadjusted (U. S. D e p a r t m e n t
of Labor) t
1923-25=100Durable goods t
do
Iron and steel a n d their products, not including machinery
__ 1923-25=100..
Blast furnaces, steel works, a n d rolling
mills
1923-25 = 100__
Hardware
do
Structural and ornamental metal work
1923-25=100..
T i n cans and other tinware
do
Lumber and allied p r o d u c t s . .
_.do
Furniture
do
Lumber, sawmills
do
Machinery, excl. t r a n s p . equip
do
Agricultural implements (including tractors)
1923-25=100..
Electrical machinery, apparatus, and
supplies
1923-25=100_.
Engines, turbines, water wheels, and
windmills
1923-25=100..
F o u n d r y and machine-shop products
1923-25=100..
Machine tools*
do
Radios and phonographs
do
Metals, nonferrous, and products
do
Brass, bronze, and copper products.do
Stone, clay, and glass products
do___.
Brick, tile, and terra cotta
do
Glass
do
0)
224.0
232.0
240.0
241.3
244.7
241.9
0)
484.7
507.9
546.2
572.9
615.5
676.3
248.4
177.8
529.3
200.4
174.6
262.2
100.2
71.8
153.5
176.5
534.7
218.7
173.7
263.8
98.9
73.4
147.1
186. 0
553.4
234.0
182.6
273.6
104.2
77.0
155.4
187.8
578.2
254.4
185.6
270.8
105.4
76.2
160.5
194.7
596.3
261.7
185.9
267.6
109.5
75.8
173.7
191.4
599.1
267.0
182.0
261.0
105.8
72.9
168.2
0)
283.1
219.2
0)
0)
(0
0)
(0
0)
0)
0)
0)
202.8
211.2
219.3
227.3
234.9
0)
0)
0)
286.3
192.1
0)
0)
276.6
199.8
0)
279.0
202.3
290.7
' 208. 2
(0
292.2
' 208. 0
r
326.' 4
' 259. 1
0)
0)
r 942 7
0) ' '
' 283. 3
' 210.5
0)
0)
0)
0)
0)
98.0
106.6
' 105. 7
105.1
102.3
103.7
65.2
72.6
' 104. 9
'72.4
66.7
72.9
68.6
160.6
171.1
' 71.2
' 166. 6
165.6
160. 3
' 165.3
r 164. 6
p Preliminary.
' Revised.
» Included in total and group indexes, b u t not available for publication separately.
§ D a t a are a weekly average of the number receiving benefits, based on an average of the weeks of unemployment compensated during weeks ended within t h e month
JTotal includes State engineering, supervisory, and administrative employees not shown separately; see note on p . 27 of the M a y 1941 Survey.
{Revised series. Telephone a n d telegraph indexes revised beginning 1932, other indicated nonmanufacturing employment series beginning 1929; see p . 17 of t h e April
1940 Survey, except for indexes for street railways and busses beginning 1932, which were subsequently revised as shown in table 27, p . 17 of the M a y 1940 issue. Indexes
beginning 1923 for Ohio construction employment are shown in table 8, p . 18 of the March 1942 Survey. Total placements revised to include placements formerly classified
as " s u p p l e m e n t a r y " because of the omission of one or more of t h e steps necessary for a complete placement. Most of these placements were so classified because of lack of
registration and were largely placements in agricultural jobs. Only complete placements were formerly shown in the Survey. D a t a comparable with the series here shown
will be published in a subsequent issue. For revisions in pay-roll index for all manufacturing and durable goods for 1938 and 1939, see table 12, p . 18 of the March 1941 Survey.
*New series. For pay-roll indexes beginning 1923 for machine tools, see table 40, p . 16 of the October 1940 Survey.
FRASER
Digitized for
SURVEY OF CURRENT BUSINESS
August 1942
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
June
S-11
1942
1941
1942
June
July
SepAugust tember
October
Novem- December
ber
January
February
March
337.2
' 350. 8
April
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
PAY R O L L S - C o n t i n u e d
Mfg., unadj. (U. S. Dept. of Labor)—Con.
Durable goods—Continued.
Transportation equipment!- -1923-25=100.
Aircraft*
..
..do...
Automobiles
_
do...
Shipbuilding*...
do...
Nondurable goods!.
do...
Chemical, petroleum, and coal products
1923-1925 = 100Chemicals..
...do...
Paints and varnishes
_do...
Petroleum refining
..do...
Rayon and allied p r o d u c t s . . . .
do...
Food and kindred products
do...
Baking...
do...
Slaughtering and meat packing
do...
Leather and its manufactures
.do...
Boots and shoes
do...
Paper and printing.
do ._
Paper and pulp
do...
Rubber products
•__
do...
Rubber tires and inner tubes
do...
Textiles and their products!
do...
Fabrics!
do...
Wearing apparel
do...
Tobacco manufactures.
do...
Manufacturing, unadj., b y States and cities:
State:
Delaware
.1923-25=100.
Illinois!
-.1935-39=100.
Maryland
.1929-31 = 100.
Massachusetts
1925-27=100.
New Jersey...
...-1923-25=100.
New Yorkt
.1935-39=100.
Ohio*
do__.
Pennsylvania..
1923-25=100.
Wisconsin!
1925-27=100.
City or industrial area:
Baltimore
1929-31 = 100.
Chicago!
1935-39=100.
Milwaukee.
1925-27=100New York!
1935-39=100Philadelphia
1923-25=100Pittsburgh
..do...
Wilmington
do...
Nonmfg.. unadj. (TJ. S. Dept. of Labor):
Mining:
Anthracite
1929=100.
Bituminous coal
_
do...
Metalliferous
do__.
Crude petroleum producing
do...
Quarrying and nonmetallic
do...
Public utilities:
Electric light and power!
do...
Street railways and b u s e s ! . .
do...
Telephone and telegraph!
_
do
Services:
Dyeing and cleaning
...do...
Laundries
do...
Year-round hotels..
_
.do...
Trade:
Retail, total!
do...
General merchandising!..
do. _ _
Wholesale
do...
422.6
224.4
228.8
252.6
9,045.7 10,303.0 11,145.8
158.0
139.2
159.3
614.6
582.0
703.8
130.7
136.3
139.5
282.0
12,296.0
176.6
803.4
139.6
287.8
13,182.6
175.8
829.1
137.4
290.6
146.3
240.0
8,193.5
188.3
504.4
127.9
141.3
139.0
142.1
144.3
144. 9
' 146. 5
226. 8
306. 4
169. 6
181.6
396. 2
169. 9
174.1
182. 5
112.5
106. 8
129. S
.166. 2
136.8
119.1
123. 4
129.3
104.2
77.2
173.6
232.7
177.8
156.7
362.4
144.4
154.4
137.8
97.2
91.9
128 6
157.7
141.1
122.4
111.4
111.6
104.1
70.2
177.7
239.7
172.7
157.2
368.6
152.8
153.1
139.4
103. 2
98.8
123.6
156.9
135.6
118.4
113.6
113.3
107.1
69.8
181.5
247.2
171.5
159.1
368.2
165.5
155.2
142.9
104.7
100.7
130.9
162.7
138.8
116.4
119.3
114.4
121.7
70.0
188.5
250.9
169.9
166.4
374.3
170.5
157.4
145.8
101.6
95.3
133.3
163.0
134.8
107.3
123.4
118.0
126.3
70.4
196.2
261.4
173.8
168.0
386.4
163.0
157.6
151.1
100.5
93.3
135.9
165.4
138.0
111.8
122.4
120.2
119.2
75.6
197.7
265.6
172.2
167.9
385.2
157.7
159.7
153.7
97.0
88.4
137.5
168.9
140.6
117.6
118.3
118.9
109.8
77.1
203.0
271.7
175.9
173.9
391.2
157.2
157.5
168.9
106.7
99.5
144.1
169.8
136.9
108.6
122.1
123.7
111.6
76.8
205.3
278.0
172.5
171.1
392.4
154.7
158.2
182.3
107.3
101.0
136.6
171.9
127.4
103.0
119.7
122.0
107.8
72.6
212.3
279.3
176.6
178.3
391.3
150.7
159.6
162.6
113.3
107.6
135.1
174.2
127.4
101. 7
126. 9
123.7
125.5
72.3
'219.4
287.8
179.3
179.6
394.4
150.5
160.6
159.7
117.2
112.2
134. 8
175.6
' 132. 4
' 106. 4
129.2
124. 8
' 129. 9
70.6
222.8
293.2
177. 1
178.2
388. 2
152. 9
160.2
162.3
115. 7
110.4
133.2
172. 1
130. 3
106. 4
128. 9
126. 8
125.2
73.8
'
'
'
'
'
'
'
'
'
'
'
'
'
'
'
219.8
200.0
285. 4
142.1
230.0
212.0
153.8
206.4
156.0
170.5
196.2
114.5
169.0
166.2
186.3
127.2
159.5
159.9
170.2
202.5
117.2
173.9
170.4
188.3
126.3
154.6
169.5
178.7
207.9
116.9
173.0
184.3
190.4
131.1
163.8
173.7
180.5
215.2
121.3
189.3
194.5
190.9
131.2
164.6
169.5
183.7
224.5
120.7
188.5
190.0
195.7
136.2
173.2
171.9
181.7
221.4
119.5
190.0
186.7
194.9
135.2
170.5
182.4
188.4
234.0
125.7
198.5
194.2
202.8
139.6
172.9
187.9
188.4
241.0
129.3
205.3
197.8
203.6
139.4
175.2
188.7
192.4
251.5
132.6
2L0.2
2100
210.9
144.7
182.2
193.8
194.3
259. 7
136. 4
219.2
216. 4
223.3
146.8
188.1
199.4
195. 9
273.7
137. 6
224.2
217. 9
227.4
148.9
191.3
' 214. 2
198.6
279. 5
141.4
' 230.0
219.4
235. 0
' 151.1
197. 8
288.0
196.4
222.7
156. 8
189.5
163.3
196. 0
200.6
166.1
163.9
134.4
134.0
143.9
138.8
207.4
168.9
159.3
139.0
136.8
140.5
141.3
212.8
174.8
169.7
157.9
139.1
146.3
146.0
220.9
177.8
168.2
170.2
144.0
143.6
145.9
229.6
180.3
175.0
157.3
149.9
150.6
149.7
226.9
179.9
173.8
150.9
151.8
149.8
153.8
240.4
186.9
180.2
158.7
159.0
153.1
163.2
247.5
189.1
182.0
156.7
160.6
153.3
169.2
256.0
189.1
187.0
176.6
168.6
157.5
169.4
263. 8
191.0
195.0
183. 1
174.6
158.4
173.9
281.3
192. 5
204.4
181.4
179.2
159.5
178.1
' 282. 2
193.5
216.2
175.7
' 184. 6
' 161.8
' 190. 3
56.2
129.8
101.6
62.0
65.5
51.2
107.2
85.3
59.9
55.7
34.8
105.4
79.3
61.4
55.6
51.1
117.3
85.4
61.5
59.3
49.6
115.5
85.9
64.4
60.5
49.2
122.6
88.3
64.4
61.5
41.8
116.3
89.8
64.2
57.5
35.9
119.9
93.7
64.6
55.8
39.4
117.1
94.3
64.8
48.9
49.6
118.2
98.4
64.8
52.0
50.9
116.9
99.1
62.6
54.4
44.7
118.5
••99.1
"63.2
'58.1
'51.5
' 122. 3
' 100. 8
'62.0
'63.0
114.2
89.6
126.2
111.4
76.2
113.0
113.5
75.8
115.7
115.1
78.6
116.4
115.0
78.1
117.3
115.7
78.4
117.0
115.2
78.2
118.3
115.2
80.0
122.9
114.6
80.5
120.9
113.7
83.7
120.9
113.5
84.7
121.8
113.5
'84.4
122.2
'113.4
'86.8
' 125. 0
117.5
114.7
95.7
98.4
102.5
87.4
96.4
106.7
87.6
92.1
104.7
88.2
99.5
105.2
90.0
98.5
103.4
91.9
93.0
101.9
93.2
102.6
93.3
86.5
103.8
91.5
85.6
102.5
92.6
92.7
104.3
91.6
105. 7
108.6
93.5
' 113.1
'113.8
'95.4
93.4
95.2
100.1
88.2
94.0
97.5
88.0
94.0
99.3
89.8
95.8
106.6
90.9
97.3
110.9
92.0
98.5
117.8
91.6
107.8
151.1
92.8
94.6
105.7
91.8
93.9
104.1
93.7
93.7
105.2
93.9
'93.6
108.0
r 92. 2
'94.0
' 108. 5
'91.7
34.26
31.88
36.91
33.70
31.22
35.84
34.10
31.66
36.55
35.10
32.06
36.82
35.65
32.89
37.92
35.74
32.79
37.63
36.08
33.70
38.62
37.47
35.11
40.91
37.53
35.71
41.53
38.14
' 36.11
' 41.94
38. 68
36. 60
42.51
38. 93
37.40
43.33
36.40
35.53
36.07
35. 60
36.49
36.41
36.99
37.31
38.32
' 38.89
38.97
39.62
39.46
31.26
38.90
29.20
38.81
31.42
37.81
31.35
38.63
32.29
39.06
32.07
39.26
31.90
39.13
33.02
40.23
34.08
40.67
35.11
40.22
35. 89
40.91
36.78
36.98
27.70
23.57
25.12
21.89
38.00
34.04
27.59
23.21
24.68
21.60
37.53
36.92
28.42
24.68
25.49
23.49
38.19
36.51
28.92
24.47
26.03
22.72
38.47
37.59
29.56
25.12
26.71
23.22
39.23
34.89
27.39
24.12
26.07
21.79
38.96
36.89
28.89
24.30
26.74
21.48
40.67
38.00
29.64
23.80
25.63
21.77
42.55
39.95
28.16
24. 94
26.54
23. 20
43.06
40. 65
28.97
' 25. 33
27. 11
23. 47
' 43. 82
40. 85
29.21
25.67
27.64
23. 96
44. 25
41.14
29. 36
26.67
28.47
25.10
45. 15
37.32
36.62
36.31
37.12
37.46
38.72
35. 96
38. 28
39. 82
' 40. 61
40. 93
42. 55
37.01
37. OR
37.41
37.24
37.78
37.16
38.90
40.68
41.10
41.52
41. 80
42. 21
45.03
45.02
45.94
46.62
47.81
50.64
50.64 |
55.04
52.91 I
54. 43
53. 62
53. 96
37.78
43.22
27.09
36.61
42.80
28.30
37.72
43.53
28.32
37.77
44.74
29.25
38.84
45.54
29.42
38.00
45.17
30. 03
39.86
48.82
32.01
41.09
50.81
32.17
41.98 ! 42.90
50.87
51.43
32.84 I ' 33. 88
43. 49
50.79
34. 31
43. 90
52. 24
35. 33
0)
139. 6
0)
0)
147.9
0)
r 329.9
0)
153.6
0)
0)
0)
135.0
132.1
0)
0)
376.8
' 401. 8
131. 3
0)
(0
' 136. 2
0)
0)
225. 7
302. 6
176. 5
179.3
391. 4
160. 3
166. 2
169. 9
112.6
106. 7
132. 0
171.0
136. 7
112.6
128.5
129. 0
' 119.5
'73.3
r
WAGES
Factory average weekly earnings:
Natl. Ind. Con. Bd. (25 industries) .dollars..
U. S. Dept. of Labor (90 industries)
do....
Durable goods
do
Iron and steel and their products, not including machinery
dollars..
Blast furnaces, steel works, and rolling
mills..
_.dollars..
Hardware
_
do
Structural and ornamental metal work
dollars—
Tin cans and other tin ware
do
Lumber and allied products
do
Furniture
do
Lumber, sawmills
do
Machinery, excl. transp. equip
do
Agricultural implements
(including
tractors)
dollars..
Electrical machinery, apparatus, and
supplies
dollars..
Engines, turbines, water wheels, and
windmills
dollars. _
Foundry and roachine-shop products
dollarsMachine tools*
do
Radios and phonographs
do....
r
Revised.
i Included in total and group indexes, but not available for publication separately.
tRevised series. For revisions in indexes for nondurable goods for 1938 and 1939, see table 12, p . 18 of the March 1941 Survey. Index for transportation equipment revised beginning January 1939, see table 57, p. 17 of the December 1940 Survey. Slight revisions were made in data for textiles and their products and fabrics beginning 1933;
revisions not shown on p. 27 of the M a y 1940 Survey are available upon request. Revised indexes for Illinois beginning 1923 adjusted to census trends for the years 1923 through
1935 will be published in a subsequent issue. For revisions in Chicago indexes, see note marked with a " ! " on p . 29 of the January 1941 Survey. Earlier data for the revised
New York indexes will appear in a subsequent issue. Index for Wisconsin revised beginning 1925; revised data not shown on p. 74 of the February 1941 Survey will appear
in an early issue. Telephone and telegraph pay-roll indexes revised beginning 1932, other indicated nonmanufacturing pay-roll indexes revised beginning 1929; see table 19,
p . 17 of the April 1940 Survey
*New series. Data beginning March 1931 on Ohio pay rolls are shown on p. 17 of the March 1942 issue; for other indicated pay-roll series, see last sentence of note marked
-with an " * " on p. S-8 of this issue. Earlier monthly data for wage series on machine tools not shown on p. 29 of the March 1941 Survey are available upon request.
S-12
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1942
1941
June
September
June
July
August
August 1942
1942
October
Novem- December
ber
January
February
March
April
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
WAGES—Continued
Factory average weekly earnings—Continued.
U. S. Department of Labor—Continued.
Durable goods—Continued.
Metals, nonferrous, and products_dollarS-_
' 39. 90 40. 57
35.22
35.09
34.74
34.30
33.78
' 39. 16
36.72
38.19
38.47
34.88
'44.46
37.79
44. 63
38.37
38.65
38.24
43.62
' 43. 77
38.46
40.81
43. 54
Brass, bronze, and copper prod..-do
39.17
'30.00
28.49
30. 58
28.04
Stone, clay, and glass products
do
29.21
28.04
27.02
27.98
28.28
29.38
29.77
' 30.02
' 26.71
25.13
27.10
24.97
25.27
25.71
26. 52
24.59
25.72
24.62
Brick, tile, and terra cotta
do
26.10
25.30
' 32. 08 32. 99
30.97
29.91
31.75
30.80
32.15
'32.10
Glass
do
28. 19
30.19
32.16
29.28
' 49. 63
43.00
50. 08
42.70
41.72
' 48. 95
40.51
43.60
43.74
49.29
49.31
Transportation equipment.
-do
41.23
' 45. 63 45.81
39.74
35. 63
42.34
' 46. 78
36.57
38.19
39.20
44.81
' 45. 03
Aircraft*
. . do
38.08
50.29
43.84
50.08
45.68
41.72
44.32
40.97
49.36
48. 92
49.34
40.79
Automobiles
do . . .
41.09
53.30
45.90
53. 07
43.83
49.19
52. 42
45.54
46.82
47.84
53. 38
52. 35
Shipbuilding*
do--_46.47
r
27.84
26.11
28.34
25.11
26.91
26. 95
r 27.68
27.35
Nondurable goods
do
25.07
25.78
26.11
25.38
Chemical, petroleum, and coal products
r 30. 64
37.03
37. 86
34.99
33.74
34.12
35.21
36.45
dollars 33.63
36.14
36.17
33.78
40.95
39.90
37.89
39.02
39. 40
Chemicals
do
36.04
36.38
37.66
38.74
36.58
39.18
36.57
36.03
35.34
33.30
33.81
34.13
Paints and varnishes
do
32. 63
32.56
33.33
34.66
35. 25
33.88
32. 65
42.07
'41.97
40.14
40.33
42. 57
Petroleum refining
do
38.74
40.33
41.74
42.64
38.26
41.09
38.57
32.13
'31.93
30. 50
28.35
31.13
29.06
29.29
30.42
31.95
32.15
Rayon and allied products
do ...
31. 71
28.60
30.01
' 29.18
27.40
' 28. 94
27.08
28.28
28.56
Food and kindred products
do
29.06
26.36
26.56
27.14
26.33
30.59
' 29. 52
28.81
28.21
28.84
28.26
28.32
28.18
29.41
29. 4S
Baking
do
29.30
28.06
31.49
30.77
29.79
31.82
31. 96
30.70
33. 02
Slaughtering and meat packing.,do
29.43
30. 63
31.16
;u. 04
30. 31
'26.57
23.16
22.99
24.87
26.34
23.71
26.16
26. 55
23.68
23. 59
25. 08
Leather and its manufactures
do
23.97
25.21
21. 45
25. 32
21.66
23.36
24.84
24.86
23.64
Boots and shoes
do
22. 53
22.35
22.07
22.90
33.42
32.98
32.01
34.02
33. 61
32.34
32.66
33. 45
' 33. 68
Paper and printing
do
31. 70
32.04
33. 34
32.84
31.98
30.97
33.28
33. 50
32. 97
Paper and pulp
do
30. 49
31.17
31.73
32. 40
32.82
31.18
36.80
34.37
34.70
38.69
32.65
33.54
34. 73
36.10
33.18
Rubber products
do
33. 50
34. 55
33. 78
39.71
41.90
41.41
' 41. 75
43.34
40. 23
39.54
36.19
37.92
Rubber tires and inner tubes
do
37.19
39.85
39.17
21. 56
'r 23.39
20.33
23. 74
22.94
' 23. 25
Textiles and their products
do
20. 55
21.73
21.91
22.29
22. 14
21.04
21.66
r 22 90
23.22
20.28
22.73
23.75
Fabrics
do
20.43
21.38
21.80
22.46
22. 32
20.63
r
21.28
' 23. 85
20.48
23. 70
23. 52
24. 23
Wearing apparel
do
20.90
22.68
22.21
21.79
21. 59
22.18
20.45
' 20. 90
19.48
21.25
20.05
19.45
20.00
20.36
Tobacco manufactures
do
'19.72
20.65
20.76
19. 37
Factory average hourly earnings:
'. 896
.905
.822
.853
.880
.S88
.818
.845
.860
.868
NatLInd. Con. Bd. (25 industries)
do....
.828
.878
.819
.831
.738
.744
.803
.809
.758
.770
.781
U. S. Dept. of Labor (90 industries)
do
.787
.745
.801
. 899
.910
.923
.822
.893
. 865
.826
.843
.853
Durable goods
do ...
871
.889
.830
Iron and steel and their products, not
.910
.909
.926 j .933
.863
.862
.875
.877
including machinery
dollars .886
894
.871
.904
Blast furnaces, steel works, and rolling
.990
.996
1.000
.964
.988
.965
.971
.969
.977
mills
dollars .
.983
. 968
.754
.747
. 765
.793
.737
.744
.749
Hardware
do
.710
.742
.736
.752
.783
Structural and ornamental metal work
'.894
.892
. 852
.S99
.836
.903
dollars
.826
.840
.846
.856
.837
.875
.720
.738
.660
.709
.738
Tin cans and other tinware
do
. 664
.683
.708
.707
.703
.669
.713
.633
. 020
.570
.613
.646
.602
Lumber and allied products
do.
.602
.577
.590
.598
588
.607
.671
.597
.681
Furniture
do.
.601
.626
.640
.641
. 651
.659
.617
.608
.644
.607
.594
. 552
.584
.621
.573
Lumber, sawmills
_do_
.560
.572
.578
.572
.573
.576
.924
.832
.937
.850
.861
.906
.913
Machinery, excl. transp. equip
do
.836
.879
.844
.899
Agricultural implements (including
.921
' .938
'.955 I
.916
.917
•. 950
tractors)
dollars- .
.890
.922
.907
' .926
Electrical machinery, apparatus, and
.903
.900
.913
.842
.864
.850
.855
.860
supplies
dollars..
.878
.918
.851
Engines, turbines, water wheels, and
r 1.122
1.093
.977
1.019
1.072
' 1. 125
1.005
windmills
dollais 1.127
1.056
.996
1.110
Foundry and machine-shop products
.843
.879
.881
.900
.819
.818
dollars. .
.829
.858
.826
.874
.831
.841
.928
.943
.944
.965
.871
.876
Machine tools*
do
.908
.850
.926
.664
'.754
'.770
' . 757
.693
. 697
.701
.785
.705
Radios and phonographst
do
.726
.687
.739
.794
.821
.822
.872
.884
.897
.803
.831
.911
Metals, nonferrous, and products--do
.848
.808
.865
Brass, bronze, and copper products
.970
'.984
.894
.999
.861
.876
.890
.957
.887
dollars. _
.918
.887
.948
'.767
.749
.759
.762
.771
.717
Stone, clay, and glass products
do
.753
.720
.721
.736
.744
.751
.689
.657
.685
.701
.642
.675
Brick, tile, and terra cotta.
do.
.645
.653
.655
.666
.648
.669
'.834
.839
.835
.780
.782
.812
.836
.830
.826
Glass
..do.836
.782
.825
1.055
1.042
1.067
.976
.988
1.003
1.019
1.061
1. 051
Transportation equipment. _ _
do.
1.035
.988
1.069
'.965
.901
.978
.797
^.946
'.950
Aircraft *
do .
.916
.812
.845
.870
.845
'.961
1.133
1.116
1.142
1.063
Automobiles..
do
1.066
1.079
1.091
1.107
1.158
1.136
1.055
1.168
1.080
1.070
1.090
.954
Shipbuilding**
do
1.063
1.091
1.078
1.013
1.043
1.059
1.039
1.085
.722
.650
.714
Nondurable goods
do
.695
.657
.668
.680
.702
.707
.701
.658
Chemical, petroleum, and coal products
.824
.861
.889
.838
.875
.881
.900
dollars. .
.845
.917
.881
.837
.962
.866
ChemicaJs
do
.932
.973
.950
.988
.886
.897
.921
.949
.943
.885
Paints and varnishes
do
.780
.781
.789
.808
.818
.831
.839
.847
.854
.784
.824
.822
Petroleum refining
do
1.030
1.104
1.020
1.083
1.097
1.104
1.109
'1.103
1.098
1.107
1.025
1.106
Rayon and allied products
do
.722
.729
.746
.773
.775
.812
.812
'.809
.805
.728
.800
.797
Food and kindred products
do.
.662
.657
.679
.718
.723
.672
.695
.732
.741
.658
.718
.703
Baking
do
.674
.674
.675
.698
.665
.696
.688
.706
.672
.717
.697
.695
Slaughtering and meat packing-.do
.737
.780
.786
.791
.738
.786
.794
.800
.802
.766
.791
.782
Leather and its manufactures
do
.599
.609
.630
.635
.644
.658
.663
.678
.682
.649
.615
.649
Boots and shoes
do...
.584
.573
.601
.605
.629
.633
.614
.649
.650
.616
.590
.618
Paper and printing
do...
.826
.825
.830
.834
.841
.854
.862
.868
.876
.824
.852
.855
.732
Paper and pulp.
do
.716
.727
.764
.728
.739
.769
.769
.777
.760
.725
.747
Rubber productsX
do
.836
.845
.859
.859
.870
.882
••.901
'.910
.923
.887
.861
.875
Rubber tires and inner tubest
do
1.037
1.048
1.046
1.043
1.060
1.074
' 1. 093
' 1.085
1.062
1.058
1.096
1.085
.534
Textiles and their products
do..
.550
.569
.581
.592
.579
.596
.554
.599
.583
.604
.589
Fabrics
do...
.522
.567
.534
.551
.566
.574
.576
. 583
.571
.592
.533
.574
Wearing apparel
do...
.559
.582
.602
.611
.604
.629
'.635
'.632
.609
.627
.596
.620
.517
Tobacco manufactures
do...
.532
.523
.525
.527
.544
.537
.554
.530
.565
.520
.549
Factory average weekly earnings, by States:
139.7
Delaware
1923-25=100
116.2
113.6
131.5
114.5
118.7
121.7
134. 6
128.3
131.6
137. 2
114.7
' 142. 0
148.9
128.9
125.4
129.2
137.3
130. 3
132.3
135.5
140.3
144.0
141.8
Illinoisf
1935-39=100
127.7
147.9
140.0
117.3
130.3
119.4
118.3
121.9
120.5
125.2
131.9
134.9
134.4
Massachusetts!
1925-27= 100. _
118.0
138.9
r
181.0
149.5
169.3
157.4
151.0
156.8
157.1
163.9
177.7
New Jersey
-.1923-25 = 100..
151.9
170. 3
175.4
180.5
128.6
142.4
132.3
136.5
137.5
150.1
New Yorkf
1935-39 = 100.. 152.1
146.4
130.0
133.3
148.8
133.6
152.4
155.1
135.8
144.6
138.6
143.0
151.3
132.1
134.4
139.
4
148.9
150.2
Pennsylvania
1923-25=100 _~
136.3
'
153.6
r
154.9
130. 9
140.3
134.8
136. 6
147.7
130.2
Wisconsin!
.1925-27=100
126.3
136.7
131.4
145.0
147.7
150.8
'Revised
JData for rubber products and for rubber tires and inner tubes revised beginning October 1941 and again beginning March 1942, for radios and phonographs beginning
February 1942, and for shipbuilding beginning December 1941, on the basis of more complete reports.
fRevised series. Indexes for Illinois revised to a 1935-39 base; for factor for converting average weekly earnings index on a 1925-27 base beginning 1935, see p. 29 of the
January 1941 Survey. Index for Massachusetts revised beginning 1935; earlier data will be published in a later issue. Revised indexes for Wisconsin beginning 1925 will be
shown in an early issue. Earlier data for the New York State index will appear in a subsequent issue.
*New series. Earlier monthly data not shown on p. 29 of the March 1941 Survey are available upon request.
S-13
SURVEY OF CURRENT BUSINESS
August 1942
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1941
1942
June
June
July
August
September
1942
October
Novem- December
ber
February
March
0.780
1.54
0.780
1.54
0.788
1.54
0.788
1.54
.860
.840
50.90
.834
.835
.37
.59
.61
.59
.81
.35
.50
.41
.45
.65
.36
.63
.63
.57
.85
.35
.55
.40
.37
.59
.62
.52
.82
.36
.51
.43
.47
.68
.37
.57
.62
.52
.82
.37
.52
.42
.65
.37
.64
.63
.62
.89
.40
.52
.44
.53
.67
.41
.60
.68
.65
.90
.43
.55
.42
159
January
April
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
W AGES—Continued
Miscellaneous wage data:
Construction wage rates (E. N. R.):^
Common labor
dol. per hour..
Skilled labor
..do._..
Farm wages without board (quarterly)
dol. per month.
Railway wages (avg., class I)..dol. per hour..
Road-building wages, common labor:
United States, average
do
East North Central
do
East South Central
do . . .
Middle Atlantic
do
Mountain...
do
New England
do
Pacific
do
South Atlantic
do . _. West North Central..
_..do._..
West South Central
do....
0. 796
1.56
r
0. 747
1.49
0.753
1.50
0. 753
1.50
0.761
1.52
44.95
.56
.71
.42
.61
.68
.64
.92
.46
.57
.43
.49
.64
.36
.56
.60
.52
.73
.35
.51
.39
.50
.66
.35
.55
.60
.55
.73
. 36
.51
.39
188
60
46
21
0.761
1. 52
0.768
1.52
45.47
.727
745
0. 769
1.52
0.776
1.53
47.'
.49
.65
.37
.57
.62
.55
.79
.36
.50
.42
.52
.41
167
159
161
160
170
162
157
60
45
20
61
46
19
62
47
19
62
47
18
63
48
19
63
48
20
64
49
19
.36
.57
.59
.55
.76
.36
.50
.40
.65
.37
.59
.63
.54
PUBLIC ASSISTANCE
Total public assistance and earnings of persons
employed under Federal work programst
mil. of doL.
Assistance to recipients:§
Special types of public assistance
do
Old-age assistance*
do
General relief
do
Subsistence payments certified by the Farm
Security Administration--.mil. of dol
Earnings of persons employed under Federal
work programs:
Civilian Conservation Corps--.mil. of dol_.
National Youth Administration:
Student work program
do
Out-of-school work program.
do
Work Projects Administration
do
Other Federal agency projects financed
from emergency fundsf
mil. of doL.
Earnings on regular Federal construction
projects*
mil. of dol..
64
49
15
0)
C)
C)
C)
3
8
81
67
1
1
1
1
110
119
130
137
2
5
56
(a)
C)
157
2
5
50
167
186
194
237
FINANCE
BANKING
Acceptances and com'l paper outstanding:
Bankers' acceptances, total
mil. of doL.
197
163
213
210
197
177
185
190
183
194
194
177
174
Held by accepting banks, total
do
146
154
139
133
122
161
161
148
131
138
144
144
146
Own bills
do.
103
78
101
106
92
89
92
86
100
85
90
82
93
Bills bought. _
do.
54
52
53
51
44
59
55
47
46
47
51
53
57
Held by others•
do
43
41
52
49
46
47
46
49
50
37
38
41
50
Commercial paper outstanding
do
375
381
373
354
315
299
330
354
371
378
387
388
384
Agricultural loans outstanding of agencies supervised by the Farm Credit Adm.:
Total, excl. joint-stock land bks.f.mil. of dol._
2,891
2, 873
2, 864
2,986
2,988
2,975
2,954
2,924
2,878
2,887
2,869
2,876
2,906
Farm mortgage loans, total
do
2,288
2,361
2,343
2,296
2,274
2,448
2,437
2,426
2,411
2,395
2,380
2,332
2, 311
Federal land banks
do
1,715
1,764
1,753
1,721
1,706
1,818
1,811
1,804
1,795
1,786
1,776
1,746
1,731
Land Bank Commissioner
do
590
568
630
626
622
616
586
610
604
580
575
572
597
Loans to cooperatives, total
do
114
115
90
96
99
111
119
130
129
125
121
133
128
Banks for cooperatives, incl. central
bank
mil. of dol..
101
74
94
111
102
99
80
83
110
106
101
109
113
Agr. Mktg. Act revolving fund
do
13
16
16
16
16
16
16
16
17
17
16
13
17
Short term credit, total!
do
475
450
453
450
431
410
397
400
417
440
470
468
398
Federal intermediate credit banks, loans
to and discounts for:
Regional agricultural credit corps.,
prod, credit ass'ns, and banks for
260
225
227
225
cooperativesd*
mil. of dol—
229
225
219
235
247
257
226
258
220
Other financing institutions
do
47
42
44
45
41
44
45
43
39
40
38
39
43
Production credit associations
do
241
248
221
224
221
208
194
191
203
219
245
187
188
Regional agr. credit corporations...do
4
4
7
7
7
7
5
4
4
7
4
7
6
Emergency crop loansf
do
131
129
130
129
128
125
121
118
117
118
122
127
130
Drought relief loans.
do
47
47
50
50
49
49
49
48
47
48
48
47
47
Joint-stock land banks, in liquidation..do..._
28
27
43
41
32
32
39
38
36
30
29
35
33
Bank debits, total (141 cities)
do...
44,201
46, 689 '42,148
40,947
39,112
39,964
46,463
41,152
51, 717
44, 261
37, 773
44,807
42, 461
New York City
do.._. 17,394
16,985
17, 282
16, 288
15, 079
15, 654
19,148
17, 247
14, 242
17, 056
16,023
16,077
20, 598
Outside New York City
d o . . . . 28,295 ' 24, 866
27, 216
24, 660
24, 033
24,310
27, 315
25,075
31,118
27, 014
23, 531
27, 751
26,438
Federal Reserve banks, condition, end of mo.:
24, 468
Assets, total
mil. of dol.. 24, 672
23,704
24,322
24,359
23, 828
23,833
24,026
24,211
24, 288
24,187
24,192
24, 353
Res. bank credit outstanding, total...do
2,775
2,267
2,412
2,634
2,264
2,293
2,275
2, 361
2,369
2,355
2,468
2,312
2,309
K
A
o
ii
ii
Q
c
Bills discounted^..
do
o
a
6
2,645
2,489
United States securities
do
2,262
2,184
2,184
2,184
2,184
2,243
2,244
2,357
2,184
2,184
2,254
20,799
Reserves, total
do
20,830
20, 583
20, 603
20, 571
20, 712
20,841
20,822
20, 764
20, 902
20, 846
20,821
20, 824
20,522
Gold certificates
do
20, 566
20. 322
20,317
20, 314
20, 461
20, 533
20,515
20, 572
20, 504
20,495
20,510
20, 569
24,468
Liabilities, total
do
24,672
23, 704
23,828
23,833
24,026
24, 211
24,192
24, 353
24, 288
24,322
24,187
24,359
14,094
Deposits, total
do
13,957
15, 863
15, 781
15, 521
15,489
14. 715
14, 441
14,204
14,678
15,466
15,213
14, 268
12,405
Member bank reserve balances
do
12,305
13, 051
13,151
12, 794
13,227
12, 580
12,450
12, 927
12,619
12, 575
12, 658
13,140
2,486
Excess reserves (estimated)
do
3,085
2,362
5,210
5,215
4, 796
5,169
4,557
3,828
3,347
2.969
3,073
2,791
9,071
Federal Reserve notes in circulation, .do
9,376
6,724
6,857
7,080
7,234
7,432
8,192
8,303
8,559
8,821
7,669
8,635
Reserve ratio
90.8
89.3
91.1
91.0
91.0
91.2
91.0
91.0
90.8
90.6
90.9
'90.4
rpercent-r
1
l
Revised.
Less than $500,000.
•None held by Federal Reserve banks.
Not available.
HConstruction wage rates as of July 1, 1942: common labor, $0,803; skilled labor, $1.56.
§Figures
for special
of public
assistanceBaand general relief exclude the cost of hospitalization and burial. The cost of medical care is also excluded beginning Septem„ ^
. . types
.
.
ber 1940; this item is included in all earlier data on general relief and in figures for July 1937-August 1940 on special types of assistance.
cf To avoid duplication these loans are excluded from the totals.
jRevised series. Total public assistance and "other Federal agency projects financed from emergency funds" revised to exclude earnings on regular Federal construction
projects and also on projects financed from Reconstruction Finance Corporation funds; revised data beginning January 1933 will appear in a subsequent issue. For revisions
in data on emergency crop loans published in the Survey prior to the September 1940 issue, see note marked " t " on p. 76 of the February 1941 Survey.
*New series. For data beginning 1933 for old-age assistance, see table 56, p. 17 of the December 1940 Survey. Data on earnings on regular Federal construction projects
beginning
January 1933 wnll appear in a later issue.
S-14
SUKVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1942
1941
June
September
June
July
August
August 1942
1943
October
Novem- December
ber
January
Febru- March
ary
April
May
FINANCE—Continued
BANKING—Continued
Federal Reserve 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
Interbank, domestic
-do
Investments, total
do
U. S. Govt. direct obligations, total..do
Bills t
-do—
Bonds
do
Notes
...do
Obligations guaranteed by U. S. Government
mil. of doL.
Other securities
_
do
Loans, total
do
Cominere'l, indust'l, and agricult'L.-do
Open market paper
do
To brokers and dealers in securities.-do
Other loans for purchasing or carrying
securities
mil. of dol_.
Real estate loans
do
Loans to banks
do
Other loans
do
Installment loans to consumers:*
By credit unions:
Loans made
.do
Repayments
do
Amount outstanding, end of month..do
By industrial banking companies:
Loans made
..do
Repayments
do
Amount outstanding, end of month..do
By personalfinancecompanies:
Loans made
do
Repayments
do —
Amount outstanding, end of month._do
Money and interest rates:§
Bank rates to customers:
New York City
percent..
7 other northern and eastern cities do
11 southern and western cities...
do
Discount rate (N. Y. F. R. Bank)
do
Federal land bank loans
do
Federal intermediate credit bank loans.do
Open market rates, N. Y. C :
Prevailing rate:
Acceptances, prime, bankers, 90 days
percent..
Com'l paper, prime, 4-6 months do
Time loans, 90 days (N. Y. S. E.)..do
Average rate.
Call loans, renewal (N. Y. S. E.)___do
U. S. Treasury bills, 3-mo.*
do
Average yield, U. S. Treasury notes, 3-5 yrs.:
Tax-exempt
percent._
Taxable*
_
do.
Savings deposits:
Savings banks in New York State:
Amount due depositors
mil. of dol_.
U. S. Postal Savings:
Balance to credit of depositors
do.
Balance on deposit in banks
do.
I
25, 502
23,949
24, 544
24, 349
24, 277
24, 258
24, 324
23,650
24, 747
24, 712
24,197
25, 358
25, 483
25, 343
1,803
1,442
5,112
23,667
1,604
463
5,443
24,029
1,750
470
5,444
23, 719
1,876
591
5,445
23,894
1,906
580
5,448
23, 662
1,889
653
5,459
23,814
1,780
826
5,410
23,993
1,721
1,475
5,368
24,206
1.820
1,451
5,259
24,595
1,804
1,671
5,205
23, 673
1,916
1,869
5,137
24, 636
2,096
1, 506
5,128
24,922
1, 971
1,301
5,109
4,955
137
9,005
21, 642
16, 200
2,918
10, 383
2,899
5,243
174
9,272
17,872
11,255
1,080
7,929
2,246
5,260
158
9,078
18,199
11, 279
1,074
7,952
2,253
5,268
156
9,355
18, 335
11,251
1,019
7,949
2,283
5,267
160
9,669
18,101
10, 982
785
7,917
2,280
5,285
153
9,357
18, 379
11,318
797
8,277
2, 244
5,232
155
18.432
11, 860
990
8,342
2,528
5,172
173
9,040
18,715
12,085
883
8,667
2, 535
5,058
181
9,088
19,087
12, 689
1,240
9,087
2,362
5,005
180
9,033
19, 551
13,132
1,206
9,589
2,337
4, 953
164
8, 885
19,100
12, 705
680
9,671
2, 354
4,929
189
8, 687
20,111
13, 730
1,699
9,705
2,356
4,914
175
9,175
20, 774
14, 559
1,953
10, 309
2,297
2,032
3,410
10, 740
6, 469
341
519
3,038
3,579
10,453
5,897
371
529
3,309
3, 611
10, 572
6,047
388
478
3. 316
3,768
10,903
6, 222
397
807
3,319
3,800
11,024
6,447
2.922
3. 650
11,259
6,593
428
548
2,964
3,666
11,370
6,722
423
535
2,709
3,689
11.255
6,778
424
448
2,723
3,696
11,392
494
3.330
3, 731
11,203
6,554
419
531
2, 684
3,711
11,394
7,003
424
408
2,675
3,706
11,094
6,726
409
441
2,667
3,548
10, 905
6,542
382
528
393
1,236
36
1,746
453
1,244
40
1,919
439
1,253
43
1,924
436
1,258
45
1,940
428
1,257
39
1,962
431
1,265
37
1,965
427
1,256
38
1,969
422
1,259
35
1,974
409
1,248
37
1, 911
410
1,250
37
1,900
407
1,245
1,878
395
1,246
30
1,847
403
1,243
28
1,779
32.7
26.8
216.1
30.8
27.1
219.8
29.6
27.0
222.4
24.0
25.9
220.5
25.2
28.0
217.7
23.0
26.2
214.5
25.0
28.1
211.4
17.9
29.9
199.4
18.6
25.6
192.4
25.4
27.5
190.3
19.3
25.3
184.3
18.0
24.5
177.8
51.8
47.0
306.3
49.5
46.7
309.1
46.1
46.1
309.1
38.4
42.4
305.1
43.0
45.1
303.0
40.8
44.1
300.3
44.9
47.6
297.6
38.3
46.0
285.0
34.8
39.7
42.3
45.4
281.9
36.9
41.7
277.1
87.0
79.3
527.0
85.0
80.9
531.1
86.2
81.3
536.0
68.0
74.0
530.0
76.3
79.8
526.5
81.4
81.2
526.7
103.1
94.4
535.4
65.9
74.7
526.6
64.1
70.0
520.7
84.9
84.4
521.2
71.4
76.0
516.6
33.8
42.7
268.2
57.5
70.4
503.7
1.98
2.62
3.29
1.00
4.00
1.50
1.00
4.00
1.50
1.00
4.00
1.50
1.88
2.45
2.99
1.00
4.00
1.50
1.00
4.00
1.50
1.00
4.00
1.50
1.85
2.48
3.20
1.00
4.00
1.50
1.00
4.00
1.50
1.00
4.00
1.50
Me
Me
m
l\i
Me
5
A
Me
VA
.1.00
4.00
1.50
1.95
2.58
3.23
1.00
4.00
1.50
LOO
4.00
1.50
1.00
4.00
1.50
7/16
Me
Me
M
Me
H
IK
134
397
Me
H
m
9,405
6,902
422
471
29
Me
H
1M
m
1.00
.363
1.00
.089
1.00
.097
1.00
.108
1.00
.055
1.00
.049
1.00
.242
1.00
.298
1.00
.214
1.00
.250
1.00
.212
1.15
.38
.68
.37
.67
.33
.62
.34
.62
.41
.72
.57
.90
.64
1.02
.47
.96
.44
.93
i .44
.93
5,422
5,628
5,575
5,555
5,555
5,554
5,541
5,555
5,433
5,401
5,392
5,373
5,374
1,316
24
1,304
30
1,307
29
1,309
28
1,311
28
1,317
27
1,324
27
1,314
26
1,310
25
1,307
25
1,305
25
1,306
25
1,308
24
1.00
.299
1.00
.364
1.03
COMMERCIAL FAILUEESf
804
916
908
970
954
962
938
842
955
735
898
Grand total
number..
1,048
48
59
40
36
46
29
53
38
42
38
46
62
Commercial service, total
_do_
48
67
63
59
76
65
65
57
51
51
39
57
63
Construction, total
do.
77
135
165
166
146
134
166
159
141
123
138
167
146
Manufacturing and mining, total
do
188
1
4
4
5
3
4
4
5
3
4
6
Mining (coal, oil, miscellaneous)
do...
4
8
5
15
6
8
8
7
8
11
5
4
Chemicals and allied products.
..do...
23
25
46
39
39
42
39
31
36
17
25
Food and kindred products
do.._.
43
5
6
5
8
1
5
7
4
5
4
3
4
Iron and steel products
do...
7
6
5
6
12
5
3
5
5
5
5
4
6
Leather and leather products
do-_.
8
18
18
22
10
11
11
IS
19
13
20
12
15
Lumber and products
do...
25
11
6
7
7
7
8
7
5
3
2
o
8
Machinery
do...
10
19
18
19
18
4
13
15
14
13
18
20
15
Paper, printing, and publishing
do...
24
1
4
7
3
3
3
3
1
3
3
2
3
4
Stone, clay, and glass products
do...
34
23
48
31
23
33
44
24
29
17
42
36
Textile-mill products and apparel-—do._.
r'20
2
2
3
2
2
2
3
2
3
2
1
3
Transportation equipment
do...
5
25
21
12
24
25
17
15
15
19
23
19
18
Miscellaneous
do...
25
570
585
529
604
486
619
460
640
589
516
624
650
Retail trade, total
do_.
647
74
81
57
81
68
98
67
87
69
65
70
85
Wholesale trade, total
do_.
69
13,422
9,906
),449
11,131
), 197
),393
7,333
13,469
9,282
1,631
9,916
Liabilities, frrand total
thous. of dol
12,011
9,839
500
673
401
672
448
447
358
863
927
589
335
Commercial service, total
do._
1,191
475
1,072
945
684
1,732
618
594
577
1,161
920
851
896
1,033
Construction, total
do...
1,171
r
Revised.
§For bond yields see p. S-18.
i No tax-exempt notes outstanding within maturity range after March 15, 1942. Average shown for March 1942 covers only first half of month.
t Includes certificate of indebtedness beginning April 1942.
t Revised series. For data beginning January 1940 and an explanation of the revision, see p. 32 of the March 1941 Survey. For previous revision of 1939 data, see p. 31 of the
March 1940 Survey.
*New series. For data beginning 1929 for industrial banking companies, personal finance companies and credit unions, respectively, see table 35, p. 18 of the September
1940 Survey, table 25, p. 26 of the September 1941 Survey, and table 27, p. 26 of the October 1941 issue. The series on 3-months' bills of the U. S. Treasury represents the rate
on new issues offered within the month, tax-exempt bills prior to March 3941, taxable thereafter; earlier data will be published in a subsequent issue. Earlier data for the series
or, taxable Treasury notes appear on p. S-14 of the April 1942 Survey.
August 1942
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
S-15
SURVEY OF CURRENT BUSINESS
1942
1941
June
September
August
July
June
1942
October
Novem- December
ber
January
February
March
April
May
FINANCE—Continued
COMMERCIAL FAILUKESt-Continued
Liabilities—Continued.
Manufacturing and mining, total..thous.of dol.
Mining (coal, oil, miscellaneous)
do
Chemicals and allied products.
do
Food and kindred products
do
Iron and steel and products.
do
Leather and leather products
do
Lumber and products
do
Machinery
_
do
Paper, printing, and publishing
do
Stone, clay, and glass products
do
Textile-mill products and apparel
do
Transportation equipment-do
Miscellaneous
do
Retail trade, total
.do
Wholesale trade, total
do
3,327
222
118
632
99
63
829
300
403
124
180
78
279
3,752
1,209
3,155
157
82
451
88
188
201
113
251
16
1,030
328
250
3,591
1,618
6,698
429
55
731
126
72
597
346
584
272
562
36
2,888
3,579
1,573
3,799
56
61
1, 503
280
314
165
95
712
55
357
45
156
3,492
1,439
4,189
99
185
2,262
66
37
342
477
103
17
167
7
427
3,239
924
2,879
146
73
1,027
128
117
333
229
142
28
238
269
149
2,790
729
3,827
328
226
763
84
63
366
203
562
83
528
56
565
3,472
832
5,651
577
254
547
553
159
238
780
206
81
877
2
1,377
4,323
1, 471
3,550
184
200
1,378
173
99
176
51
70
4
615
100
500
3,641
1,285
2,525
182
73
470
116
119
456
66
214
33
319
22
455
4,232
1,027
3,739
299
22
1,102
166
204
390
191
493
124
427
25
296
4,813
1,369
2,953
48
156
936
64
53
263
58
429
98
316
204
328
3,829
1,132
2, 924
234
49
622"
95
69
24H
63
562
39
623
48
274
4, 392
877
25,888
4,796
673
4,123
1,605
2,325
26,002
4,820
674
4,146
1,593
2,312
26,106
4,851
721
4,130
1,585
2,302
26,245
4,882
678
4,204
1,575
2,293
26, 376
4,924
677
4, 247
1,558
2,281
26, 508
4,959
675
4,284
1,541
2,271
26, 662
5,012
675
4,337
1,488
2,255
26,817
5,023
671
4, 352
1,483
2,241
26,928
5,047
672
4,375
1,474
2,228
27, 080
5,071
673
1,452
2,216
27, 209
5,105
681
4,424
1,436
2,202
27, 341
5,134
684
4,450
1,423
2,188
15,418
6,914
5,082
3,972
2,711
1,821
1,202
542
15, 582
6,987
5,157
4,043
2,737
1, 815
1,171
524
15, 718
7,047
5,191
4,068
2,748
1,855
1,120
530
15,814
7,092
5,233
4,108
2,747
1,867
1,139
542
16,265
7,391
5,546
4,224
2,763
1,887
815
533
16, 368
7,439
5,603
4,238
2,755
1,936
828
541
16, 641
7,743
5,908
4, 255
2,682
1,961
681
585
16, 528
7,613
5,779
4,309
2,687
1,919
955
587
16, 706
7,816
5,981
4,304
2.680
1,906
884
589
16, 754
7,830
5,983
4, 351
2,671
1,902
986
601
16,944
8,014
6,156
4,369
2,659
1,902
921
601
17,391
8.453
6,595
4,378
2, 650
1,910
597
60S
73fi
32
459
246
648,144
62, 977
135, 633
449, 534
272,173
29, 859
12,520
61,120
168, 674
729
49
438
243
660,125
82. 909
128, 783
448,433
271,482
33,693
13, 782
52,341
171,666
729
42
450
237
645,046
71,689
131, 329
442,028
245,173
20,732
13,149
56,423
154,869
738
62
431
245
699, 549
130,229
128,493
440.827
251.887
21;478
13,828
60,842
155,739
820
42
499
279
730,327
74, 794
148, 388
507,145
261,865
22.840
14, 637
55, 685
168,703
1,193
759
246
38
598
470
349
251
681,479 1,141,316
89,360 298,817
141,349 186,190
450,770 656,309
247, 966 414,137
90,148
23. 670
24, 757
11,949
84,397
53,168
159,179 214,835
770
33
404
334
955, 353
49,076
119, 820
786, 457
295, 827
38,921
17,842
61, 281
177, 783
677
32
418
227
650,649
50,231
126,492
473,926
272, 778
25, 378
15,040
57, 578
174,782
724
55
456
213
652, 459
97, 826
140, 735
413, 898
291, 538
24,130
18, 789
64, 257
184, 362
721
68
454
200
625,084
124,823
139,022
361,239
276,007
23,113
14,968
66,272
171,654
705
48
461
196
580,124
87, 773
141,378
350,973
270,516
25,363
14,496
59,138
171, 524
594,164
47,099
154. 975
134,008
55,069
63,413
26,792
45,385
15, 355
52,068
87
582, 292
47, 531
153, 032
132, 766
56,182
57, 946
23, 347
43,173
15,110
53, 205
581,171
44, 850
147,610
131,895
55, 746
61,535
24, 233
44, 993
15, 624
54,685
581, 998
45,204
148,781
131,367
55,457
61,115
26.556
43,619
15,337
54,562
658, 339
51,195
181,013
152,179
59, 526
66,130
24,845
45, 507
16. 507
61,437
581,692
46,258
158,819
135, 360
52, 792
57,874
23, 383
40. 553
13,910
52, 743
879, 492 1,001,653 634,538
66, 292
83,056 ! 51,310
251, 633 309,292 I 175, 355
196, 569 220,739 141, 939
60, 218
79,864
87,332
90, 218
91,272 | 60, 754
24, 742
34,154
38,273
44, 577
64,976
67,602
15,345
20,480
21,694
60, 298
75, 306
82, 393
87
552, 044
42, 030
138,708
126, 330
53,182
52,173
24, 960
46, 534
14. 533
53, 594
462, 761
37,131
118, 591
106,487
44,931
45,968
18, 950
32, 604
11, 998
46,101
457,926
36, 248
114,230
106, 445
48, 833
44. 679
17,758
31,825
12,188
45. 720
.298
.061
.301
.882
.570
.205
4. 032
.298
.001
.301
.883
. 570
.205
4. 032
.298
.061
.301
.877
.570
.206
4. 035
.298
. 061
.301
.872
. 570
. 206
4. 035
. 29S
. 061
.301
. 880
. 570
. 20f.
4. 035
LIFE INSURANCE
Association of Life Insurance Presidents:
27,462
Assets, admitted, total}:
mil. of dol
5,164
Mortgage loans, total
do
685
Farm.
do
4,479
Other. _
do
1,410
Real-estate holdings
do
2,176
Policy loans and premium notes
do
Bonds and stocks held (book value), total
17, 431
mil. of dol..
8,453
Gov't. (domestic and foreign), total-do.
6,592
U. S. Government
...do
4,396
Public utility
do
2,630
Railroad
do
1, 952
Other.
do....
712
Cash
do
569
Other admitted assets
do
Insurance written:®
Policies and certificates, total number
710
thousands..
87
Group
do
425
Industrial.
do
198
Ordinary
_.do
Value, total
.thous. of dol_. 647, 394
161,061
Group...
_-do
129,863
Industrial
_._do
356,470
Ordinary
.do
277, 578
Premium collections, total®
do
25, 654
Annuities
do
15, 783
Group
_
do
64, 014
Industrial
do
172,127
Ordinary
do
Life'Insurance Sales Research Bureau:
463, 325
Insurance written, ordinary, total
_do
37,029
New England
_
do
Middle Atlantic
do____ 117, 577
East North Central
d o . . . . 106,796
47, 660
West North Central
_do
44,407
South Atlantic
do
19,182
East South Central
do
West South Central
__dO-__. 32, 247
12, 288
Mountain
do
46,139
Pacific-.
do
Lapse rates
1925-26=100..
I
MONETARY STATISTICS
Foreign exchange rates:
.29K
Argentina
dol. per par>er peso._
. 061
Brazil, official
dol. per milrei?__
.301
British India
.
dol. per rupee. _
.900
Canada
dol. per Canadian dol..
. 570
Colombia
_
dol. per peso..
. 206
Mexico
do
4. 035
United Kingdom
dol. pf>r £
Gold:
Monetary stock, U. S
mil. of d o L . 22, 737
Movement, foreign:
Net release from earmark* . .thous. of dol... -14,792
Exports
do
Imports
do
Production, estimated world total, outside
U. S. S. R
thous. of dol..
Reported monthly, totalf
do
Africa
do
Canada
do
United States
.
do
Receipts at mint, domestic (unrefined)
fine ounces.. 128,299
12, 383
Currency in circulation, total.___..mil. of delSilver:
Exports.__
_.
thous of dol_.
Imports
do
.351
Price at New York
.dol. per fire oz
Production, world
thous. of fine oz.
Canada§
.
do
Mexico
do
United States
„
do
Stocks, refinery, end of month:
United States
_
do
r
\
22, 624
. 061
.301
.890
.570
. 205
4. 032
.298
.061
.301
.891
. 570
.205
4.033
.061
.302
.888
.570
.206
4.033
22, 075 ' 22, 719
22, 761
22,800
.298 ;
.061 I
.302
.886
.570
. 205
4.034
22, 785
.298
.061
.301
.874
.570
.206
4. 035
.298
.061
.301
.878
.570
.206
4.035
.298
.061
.301
.884
.570
.206
4.035
22, 737
22, 747
22, 705
22,687 I 22,691
22,714
3, 980 -27,728 I-31,202 -46,786 -32,231 -60,913 - 9 9 , 705 -38,506 -109,277;-65, 525 j-20, 068 - 3 8 , 196
13 !
6
5 1
3
65,707 I 40,444
(°)
30, 719
37,055 j 36, 979
105, 875
89. 581
46, 339
15, 890
16, 395
109,970 j108, 535
93,597 ! 62, 443
48, 212
47, 587
15.983
36,353
17,413
18, 463
255, 262
9,612
358, 603 322, 506 385, 350
9, 732
9, 995
10,163
210
4.099
.348
23, 214
2,058
8,062
5,047
2,324 I
353
4, 686
. 348
227 763
1,852
6, 726
6,310
2,235 |
207
3. 561
.348
22,607
1, 660
6,878
6,277
2,803 j
109. 935
93, 863
47,212
15, 578
20, 807
348
3, 356
.348
21,808
1, 625
6,944
5,620
I
1,231 I
111,265 | 107, 940 105.035 I'104, 510 v 90, 440
94,890 ! 91, 596 p88, 823 T 88,599 p75,654
47, 970
47, 328 | v 47, 534 v 44,463
46, 637
16,141
14, 746
14,198
15. 499
13,147
14, 982 10,034
18, 781
19,740 jj 16, 700
!
338, 233 324,135 237, 660 235, 571 134.028
10,640
11,160
10, 364
11,175
11, 485
70
4,221
.348
20, 474
1, 640
5,973
5,087
1,036 |
r100, 590
85,074
P 47,4.30
15, 372
10, 959
v 83,419
p 46, 303
14,728
11,058
»84. 41$
P 47, 404
14,881
10, SOT
141,110
11, 566
141, 288
11, 767
138.84G
12, 074
I
18, 352
1,681
4,429
4,631
.351
21,196
1, 722
5,548
5,661
2,739
1,947
351
. 351
21,368 - 20, 361
1,478
1,538
7,213
7,471
4,470
4,844
4,382
3,224
.351
. 351
21,657
1,606
7,211
5,285
5~606
4,948
3,152
2,930
3,270
1,613
Revised.
vPreliminary.
« Publication of data discontinued.
+36 companies having 82 percent of total assets of all United States legal reserve companies.
% 39 companies having 81 percent of total life insurance outstanding in all United States leeal reserve companies.
•Or increase in earmarked gold (—).
\ See note marked "\" on p. S-15 of the February 1942 Survey in regard to changes tnat have affected the comparability of the data; a subsequent revision of the data for
Africa and the total reported monthly beginning April 1941 includes estimates for Sierra Leone and Nigeria and are as reported by the Bureau of Metal Statistics.
| Data reported by the Canadian Government; see note marked " § " on p. 33 of the June 1941 Survey.
SURVEY OF CURRENT BUSINESS
S-16
Monthly statistics through December 1939 together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1942
1941
June
September
June
July
August
August 1942
1943
October
November
December
January
February
March
April
May
FINANCE—Continued
PROFITS AND DIVIDENDS
Industrial corporations (Board of Governors of
the Federal Reserve System): *
Net profits, total (629 cos.)
mil. of dol..
Iron and steel (47 cos.)
do
Machinery (69 cos.)
do
Automobiles (15 cos.)
..do
Other transportation equipment (68 cos.)
mil. of dol..
Nonferrous metals and products (77 cos.)
mil. of dol._
Other durable goods (75 cos.)
do
Foods,beverages,andtobacco(49cos.)_do
Oil producing and refining (45 cos.)._do
Industrial chemicals (30 cos.)
do
Other nondurable goods (80 cos.)
do
Miscellaneous services (74 cos.)
do
Profits and dividends (152 cos.):
Net profits
do
Dividends:
Preferred
do
Common
do
Public utilities, except steam railways and telephone companies, net income (52 cos.) (Federal Reserve Bank of New York)_mil. of doL.
Railways, Class I, net income (Interstate Commerce Commission)
mil. of doL.
Telephones, net operating income (91 cos.)
(Federal Communications C o m m i s sion)
mil. of doL_
Corporate earnings (Standard and Poor's):
Combined index, unadjusted*.....1926=100..
Industrials (119 cos.)
do
Railroads (class I)*
do
Utilities (13 cos.)
do
549
84
48
73
560
81
46
60
56
56
550
72
55
61
P65
36
28
43
42
53
48
36
P20
*>39
284
P206
24
221
23
170
23
105
53.6
39.8
103.2
188.4
p 134
138.4
61.8
58.6
64.1
108. 3
111.8
59.9
139.6
107.4
106.2
112.6
109.0
P85.4
124. 8
84.4
127.6
p 79.0
P58.2
p 143. 2
P U B L I C F I N A N C E (FEDERAL)
War program in the United States, cumulative
totals from J u n e 1940: *
Program J
_
mil. of d o l . . '174, 384
Commitments
do
134,094
Cash expenditures §
do
P 37, 847
Debt, gross, end of m o n t h .
do
72, 422
Public issues:
64,083
Interest b e a r i n g s .
_
do
454
Noninterest bearing
do
Special issues to government agencies and
trust funds
mil. of d o l . .
7,885
Obligations fully guaranteed by U . S. Gov't:
4,549
Total amount outstandingcft
mil. of d o l . .
By agencies:cf
930
Federal Farm Mortgage Corp
do
Home Owners' Loan Corporation f. do
1,563
Reconstruction Finance Corp
do
1,220
Expenditures, total f
thous. of d o l . . 4,531,073
National defense*
do
3,822,720
Agricultural adjustment program*
do
31, 448
Unemployment relief*
do
72, 329
Transfers to trust accountf
do
1,047
390, 243
Interest on debt*
do
1,369
Debt retirements
do
211,917
Allother*
do
2,493,637
Receipts, total
..do
2,492,259
Receipts, net*
do
27,622
Customs
do
2,424,223
Internal revenue, total
do
2,086,465
Income taxesf
do
41, 908
Social security taxes
do
Government corporations and credit agencies:
Assets, except interagency, t o t a L . m i l . of d o l . .
Loans and preferred stock, total
do
Loans to financial institutions (incl. preferred stock)
.mil. of d o L .
Loans to railroads
do
Home and housing mortgage loans..do
Farm mortgage and other agricultural
loans
mil. of d o l . .
Allother
do....
U. S. obligations, direct and fully guaranteed
. . . m i l . of d o l . .
Business property
do
Property held for sale.
do
All other assets
-.do
Liabilities, other than interagency, total
mil. of d o l . .
Bonds, notes, and debentures:
Guaranteed b y the U. S
.do
Other
do
Other liabilities, including reserves.._do
Privately owned interests
-do
Proprietary interests of the U . S. Government
mil. of dol__
r
40,861
31, 587
8,757
48,979
52, 508
35, 548
9,870
49,540
60,918
39, 650
11,160
50,936
61,663
44,284
12,676
51, 371
68,207
49, 619
14,431
53,608
68,373
51,441
16,050
55,066
80,604
56,625
18,220
58, 020
97, 768
85, 039
20, 517
60,099
42, 285
42, 669
548
43,916
550
44,157
556
46, 401
544
47, 755
504
50, 551
487
52, 555
481
54, 759
486
' 54, 652
M79
6,324
6,470
6,658
6,664
6,806
7,063
7,190
7,333
7,358
7,518
6,930
6,928
6,929
6,930
6,316
5, 673
5,673
5,666
5,666
* 5, 666
574
6,120
6,360
1,269
1,269
1,269
1,269
2,409
2,409
2,409
2,409
2,101
2,101
2,101
1,741 1,600,253 1,563,712 1,882,011
1,545,602 966.183 1,129,286 1,327,393
832, 233
32,456
44,232
26, 764
22,025 132,075 105,707 108,493
130, 897 168, 554
6,200
14,311
9,565
24,828
8,556 169,359
339, 431
7,951
2,654
34,223
17,128
261, 726 244.864 230,161
194, 322 455, 556 553,833 1,136,079
1,277,092 412, 942 396, 510 l 1 3 i 9 1 4
1,276,009
36,114
36, 743
34,511
38, 217 399, 783 500,132 1,076,506
1,211,087
83, 668
58,674 779,917
916,170
37,197
47,926
172, 696
31,817
13, 989
13, 277
13,797
13, 810
8,826
8,864
8,756
8,804
1,269
2,409
2,101
1,533,678
57, 865
109, 414
45,010
74,604
6,710
262, 055
488, 758
445, 293
34,040
431, 294
68, 308
48,910
6,317
^119,359 P149, 732 P ! 6 8 , 7 6 9
8,769
v 85, 971 P102, 366 112, 265 P121.996
29, 736 P33, 670
v 22, 970 P26, 165
62,434 ' 62, 464 64, 961
68, 571
57,139
465
60, 591
462
937
1,269
937
930
930
930
2,409
2,409
2,409
2,409
2,409
2,409
1,802
1,492
1,492
1,492
1,492
1,492
2,557,103 2,630,968 2,629,839 3,436,301 3,755,299 3,954,968
1,846,555 2,100,754 2,201,081 2,796,958 3,230,780 3,552,676
112,840
65, 699
62, 257
96, 930
106, 251
81, 384
114,805
91,019
92, 262
82, 081
93, 564
95, 887
48, 260
8,750
9,360
5
22,113
41, 540
76, 598
232,446
12,136 204, 886
19, 203
31, 737
15, 553
1,070
2,289
1,500
15, 392
3,270
226,154
253, 851 217,000 219, 681 240, 653 236,246
1,214,417 614, 084 937, 281 3,547,800 732, 237 764,037
1,212,303 577, 647 757, 976 3,547,169 695, 433 562, 666
32, 926
32, 386
27, 284
32, 559
20, 608
35,187
1,159,387 555, 031 879, 417 3,493,082 683, 522 708, 059
66, 229 767,098
133, 469 282, 506 3,082,627 335, 370 216,135
41,376
180, 561
43, 232 222, 134
48, 576
52, 576 256, 955
1,269
2,409
1,802
1,860,445
1,445,603
71, 820
95,347
9,750
15,490
2,740
219, 696
730,198
563, 949
29,967
14, 368
9,033
14, 470
9,001
14,660
9,167
14, 908
9,063
15, 224
9,059
15, 750
9,065
16, 656
9,218
17, 343
9, 005
1,115
505
2,445
1,101
497
2,413
1,076
497
2,413
1,075
497
2,427
1,074
484
2,413
1,072
483
2,401
1,114
498
2,424
1,079
497
2,430
1,060
498
2,380
1.046
500
2,392
1,030
502
2,372
1,020
498
2,352
3,227
1,511
3,191
1,553
3.152
1,690
3,128
1,738
3,105
1,957
3,112
1,933
3,134
1,996
3,123
1,934
3,117
2,004
3,100
2,026
3,272
2,041
3,092
2, 042
925
636
1,497
1,415
947
653
1,567
1,930
967
664
1,625
1,800
671
1,710
1,862
1,015
689
1,805
1,911
1,021
698
1,879
1,980
714
1,891
1,889
1,027
751
1, 964
1,058
782
2,017
2,308
1,060
792
2,262
2,571
815
2,717
2,830
1,088
833
3,067
3,349
9,417
10,142
10,123
10, 231
10, 306
9,690
9,765
9,418
9,620
9,776
10, 078
6,370
1,443
1,604
424
6,939
1,442
1,761
425
6,937
1,445
1,741
426
6,937
1,434
1,859
427
6,938
1.416
1,952
428
6,324
1,393
1,974
430
6,324
1,392
2,049
431
5,697
1,396
2,325
434
5,690
1,433
2,497
435
5,688
1,431
2, 656
436
5,687
1,440
2, 950
437
3,436
'3,230 i
3,261 3,331
3,633
4,349
4,464
5,372
5,694
6,444
6,828
2, 104
9,219
5,705
1,402
2, 111
432
5, 256
Revised.
» Preliminary.
' N u m b e r of companies varies slightly.
cfThe total includes guaranteed debentures of certain agencies not shown separately.
^Figures do not include $5,573,000,000, Naval Supply Bill, fiscal year 1943, approved February 7, 1942, b u t not legally available until July 1, 1942.
§Revised because of changes made b y the Treasury in national defense expenditures. Earlier data beginning July 1940 are available upon request.
fRevised series. Data for total obligations guaranteed by the United States and for the Home Owners' Loan Corporation have been revised beginning September 1939
to exclude matured debt; earlier data shown in the Survey similarly exclude matured debt.
For revised series under receipts and expenditures see note marked " * " on this page.
*New series.
T h e new series on profits and dividends of industrial corporations of the Board of Governors of the Federal Reserve System have been substituted for the
Federal Reserve Bank of N e w York's series. For a description of the series and earlier data see table 10, p . 21 of t h e April 1942 Survey. For explanation of the new series on
the war program and earlier data see table 9, p. 21 of the April 1942 Survey. N e t receipts represent total receipts less social security employment taxes which, beginning July 1940,
are appropriated directly to the Federal old-age and survivors insurance trust funds and do not appear as transfers to this fund under expenditures, as formerly; earlier data on
net receipts and revised data on income taxes appear in table 50, p . 18 of the November 1940 Survey, while earlier data for expenditures and transfers to trust accounts, revised
to exclude transfers to the old-age and survivors insurance trust fund, and da + a for the new items under expenditures are shown in table 31, p . 23 of the November 1941 Survey,
with the exception of subsequent revisions beginning July 1940 in national defense, unemployment relief and all other expenditures which will appear in a later issue.
S-17
SURVEY OF CURRENT BUSINESS
August 1942
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1941
1943
June
June
July
August
1942
September
October
Novem- December
ber
January
February
March
April
May
FIN AN CE—Continued
PUBLIC FINANCE (FEDERAL)—Con.
Reconstruction Finance Corporation, loans out'
standing, end of month :\
Grand totalf
thous. of dol._ 4,085,264 2,152,711 2,230,358 2,363,687 2,541,142 2,820,257 2,880,470 2,938,413 2,988,673 3,166,909 3,361,947 3,556,094 3,819,280
Section 5, as amended, total
do. — . 734, 070 751, 305 740, 224 737,864 738,058 725, 550 723, 604 734,171 725, 943 729, 730 734, 696 738,
738 384 733
733, 596
Banks and trust companies, including
69, 463
89, 787
85, 310
82, 986
69,117
67, 514
receivers
thous. of dol.. 65, 803 96, 702 92, 938
79, 887
66, 420
68, 265
3,918
3, 574
5,630
4,356
3,370
6,434
Building and loan associations
do
3,266
3,161
3,161
2,897
5,817
5,792
5,817
1,628
686
1,669
1,551
1,532
714
Insurance companies
do
702
1,389
1,365
830
795
752
725
198, 926 176, 579 177,864 180,517 182, 787 186, 389 187,185 186, 483 189,837 190,490 193, 993 196, 512 197, 401
Mortgage loan companies
do
462, 088 469, 634 461, 567 460, 953 460,813 447, 771 447, 510 462, 496 461, 792 462,426 464, 842 466,182 462, 316
Railroads, including receivers
do
2,365
2,308
1,482
1,469
All other under Section 5
do..
937
1,028
1,425
1,398
1,315
1,158
1,128
939
1,079
Emerg. Rel. and Constr. Act, as amended:
Self-liquidating projects (including financ18, 291
18,124
18, 490
18, 085
17, 737
17, 671
17, 527
ing repairs)...
thous. of doL
17, 310
17, 578
17, 515
17,415 I 17,382
17, 452
Financing of exports of agricultural sur47
47
47
47
47
0
0
pluses
thous. of doL.
0
0
0
0
0
0
Financing of agricultural commodities
434
437
437
434
439
434
431
and livestock
thous. of doL.
352
436
431
368
368
403
Loans to business enterprises (including
participations)
thous. of dol.. 135, 961 151, 733 150, 462 149,603 147,422 142, 618 145, 654 152, 385 148, 591 146,360 142,915 140, 290 139, 465
National defense under the Act of June 25,
1940*
thous. of doL. 1,940,499 306, 243 355, 741 409, 626 567, 097 694, 087 785, 226 784, 396 853,203 993, 473 1,191,436 1,395,212 1,670,157
Total, Bank Conservation Act, as amended
thous. of doL. 699, 708 753, 939 750,170 734, 569 731, 979 730,076 728, 639 725, 482 719,873 715,121 710,029 702,408 700,693
77, 243
78, 622
78, 626
76,962
Drainage, levee, irrigation, etc
do.
70, 359
74. 343
74,044
72, 814
72,068
72, 051
71,168 | 70,464
71,859
92,025
136, 361 236,174 261,056 435, 365 405,199 451,155 451, 036 492, 226 493,156 490, 849 ! 487, 154
Other loans and authorizations!
do
487,004
SECURITIES ISSUED
(Securities and Exchange Commission)*
Estimated gross proceeds, total
mil. of dol..
By types of security:
Bonds, notes, and debentures
do.
Preferred stock
do
Common stock
do.
By types of issuers:
Corporate, total
do
Industrial
do.
Public utility.
do.
Rail
do.
Other..
-do.
Non-corporate, total
do.
U. S. Government and agencies
do
State and municipal
do
Foreign Government
do
Non-profit agencies
do.
iSZew corporate security issues:
Estimated net proceeds, totaldo.
Proposed uses of proceeds:
New money, total
do.
Plant and equipment __
do
Working capital
do ...
Repayment of debt and retirement of
stock, total
mil. of dol..
Funded debt-do
Other debt
..do..
Preferred stock
do
Other purposes
do
Proposed uses of proceeds by major groups:
Industrial, total net proceeds..mil. of dol..
New money
do ...
Repayment of debt and retirement of
stock
..mil. of doL.
Public utility, total net proceeds... do
New money
do
Repayment of debt and retirement of
stock
mil. of dol..
Railroad, total net proceeds
do
New money
do . . .
Repayment of debt and retirement of
stock
mil. of dol..
Other corporate, total net proceeds.do
New money
do
Repayment of debt and retirement of
stock
mil. of dol..
809
635
1,087
718
457
1,878
1449
2,319
1,345
2,335
709
708
2,965
792
619
12
4
1,051
32
4
712
4
2
439
14
5
1,820
4
54
1429
12
8
2,285
21
14
1,290
37
17
2, 315
19
0
693
16
a
( )
701
4
2
2, 952
10
3
142
63
70
9
1
666
634
32
0
0
234
63
112
59
0
401
315
85
0
1
117
55
33
23
172
25
103
43
1
285
232
51
0
227
76
81
26
45
1,651
1,584
64
0
2
140
73
58
1
8
1309
1233
74
0
1
128
39
52
28
9
2,192
2,131
60
164
44
109
10
1
1,181
1,061
118
0
2
78
39
35
4
0
2,257
2,216
41
0
(a)
102
47
49
6
0
607
558
49
0
1
121
110
970
916
54
0
0
408
60
318
24
6
310
266
43
0
)
126
104
21
0
1
2,839
2,809
30
0
)
139
229
114
404
170
224
137
125
161
76
100
72
57
15
80
41
31
10
185
168
17
31
20
11
91
64
26
80
60
20
51
34
17
71
38
33
39
34
5
39
35
4
148
127
16
5
1
70
58
10
2
4
214
198
14
2
5
139
135
2
2
128
117
11
1
5
57
37
19
1
57
44
3
10
17
89
80
9
0
26
12
2
11
11
61
41
15
5
54
59
18
24
17
74
48
71
29
38
17
43
43
38
11
46
25
107
59
102
49
40
110
41
316
142
7
102
6
23
80
11
42
56
45
15
51
3
(a)
107
18
16
34
25
21
48
8
48
11
11
53
21
10
101
58
51
173
24
24
97
42
7
67
25
21
11
1
1
37
28
28
89
10
10
10
4
4
40
6
6
0
0
0
11
0
0
35
1
1
4
44
10
0
8
4
0
9
3
0
1
1
0
0
0
0
0
0
34
4
6
0
0
0
300,186
132, 899
132,899
103, 661
233, 304
108,600
108, 600
89, 427
241,732
139,136
139,136
r
76, 793
333, 238
181, 760
181, 760
87,186
179, 606
123,099
123, 099
-•56,709
196, 648
109,051
109, 051
'78,585
50,026
0
2,700
50, 935
82,399
575
2,645
3,809
'•57,110
5.000
13, 360
T
1, 323
32, 436
0
36,887
17, 863
'37,095
0
18, 735
458
r
0
29, 238
0
0
19,173
0
19, 520
42, 823
0
11,175
83, 399
0
36, 890
29, 922
0
5
7
0
0
C)
(*)
0
C)
(a)
U
o\
0 i
587
531
56
0
0
118 !
|
"0 |
15 |
55 !
*i
(a)
(a)
12 !
3t>
0
oI
0 I
124
59
27
33
64
11
53
0
1
0
1
o!
(Commercial and Financial Chronicle)t
Securities issued, by type of security, total (new
capital and refunding) __
thous. of dol
New capital, total
.do
Domestic, total
_
.do
Corporate, total
_do
Bonds and notes:
Long term
do . . .
Short term
do
Preferred stocks
...do
Common stocks
do
Farm loan and other Government agencies
thous. of dol..
Municipal, State, etc
...do . . .
Foreign, total
do
201, 306
96, 482
96, 482
76, 827
882,250
520,184
519,934
•90,917
614, 470
300, 739
300,339
'47,069
472,421
361, 029
361, 029
327, 403
273, 962
64, 840
64, 840
34,265
68, 580
0
5,000
3,247
• 75, 086
2,010
10,387
3,434
'33,877
0
9,825
3,367
323, 825
0
1,603
1,975
22,140
0
8,458
3, 667
2,060
17, 594
0
369, 741
59, 276
250
212, 212
41,058
400
0
33, 627
0
0
30, 575
0
r
262,148
157, 820
157, 820
97,114
180,031
127, 570
127, 570
103, 092
61,010
0
15,040
2,535
91,027
0
4,265
1,822
94,125
0
8,967
0
8,860
21, 606
0
9,720
50,986
0
2,715
21, 764
0
Revised.
^Includes r e p a y m e n t s unallocated, pending advices, at end of m o n t h .
« Less t h a n $500,000.
JFor revisions in 1939 d a t a from Commercial and Financial Chronicle, see notes marked "t" on p . 34 of the September 1940 arid p . 35 of the March 1941 Survey.
fRevised series. For revisions in data on total loans of the Reconstruction Finance Corporation and "other loans and authorizations" published in t h e Survey prior to
the October 1940 issue, see note marked "f" on p . S-16 of the F e b r u a r y 1942 Survey. Certain comparatively small revisions have been made in the grand total which are not
carried into the detail.
*New series. National defense d a t a include loans, participations, and purchases of capital stock in corporations created b y t h e Reconstruction Finance Corporation to
aid in national defense. T h e new series on new security issues have been substituted for the data on security registrations. Earlier data will be shown in a subsequent issue.
i Excludes offering of $502,983,000 1% Treasury Notes of SeriesA-1946 which were allotted tc holders of Reconstruction Finance Corporation notes of Series P , m a t u r i n g
N o v e m b e r 1,1941, and of C o m m o d i t y Credit Corporation notes of Series E , maturing November 15,1941.
r
473815—42
3
S-18
SUEVEY OF CUREENT BUSINESS
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1942
1941
June
September
June
August
July
August 1942
1942
October
Novem- December
ber
January
February
March
Mav
April
FINANCE—Continued
SECURITIES ISSUED—Continued
(Commercial
and Financial
Chronicle)t—Con.
Securities issued, by type of security—Con.
Refunding, total
thous. of doL_ 104,824 362,066
104,824 362.066
Domestic, total
_
_do
61,686 113,390
Corporate, total
_
do
Bonds and notes:
54,993 108,087
Long term.
do
0
0
Short term
do
4,000
5,303
Preferred stocks.._
do
2,693
Common stocksdo
0
Farm loan and other government agencies
thous. of dol_. 28, 455 222, 860
14,684
25, 815
Municipal, State, etc...
do
Corporate securities issued by type of borrower,
total
thous. of dol.- 138,513 '204, 307
76.827
'90.917
New capital, total
do
50, 477
'29, 904
Industrial
do
18,400
7,584
Public utilities
...do
2.800
51, 235
Railroads-.
do
61,686
113,390
Refunding, total
.do
7,813
21, 886
Industrial
,
.do
49,360
Public utilities.
do
83, 317
0
6,860
Railroads
do
Domestic issues for productive uses (Moody's) :*
66
113
Total
_
mil. of dol..
55
63
Corporate
do
11
50
Municipal, State, etc
.do
(Bond Buyer)
State and municipal issues:
Permanent (long term)
thous. of dol _. 32, 559 144,806
74,279
Temporary (short term)
do
81,995
COMMODITY MARKETS
Volume of trading in grain futures:
267
Wheat
mil. of bu.504
145
Corn
do
53
SECURITY MARKETS
Brokers' Balances (N. Y. S. E. members
carrying margin accounts)
Customers' debit balances (net)
Cash on hand and in banks
Money borrowed
Customers' free credit balances
mil. of dol..
do
do
do
•316,731
316,731
••86,628
111,394
111,394
74,427
209,122
209,122
161,391
167, 287
167, 287
97,050
124, 703
124, 703
42,384
102, 596
102, 596
'59,062
151,478
151, 478
82,846
56,508
18,901
87,597
87,597
39, 209
104,328
104,328
18, 527
52, 461
52,461
5,807
'75,953
0
10, 525
150
72, 530
0
1,897
0
155, 881
0
5,398
112
96, 250
0
800
0
29, 336
0
13,049
0
r 57, 283
0
1,734
0
81, 726
0
1,120
0
18,901
0
0
0
39, 209
0
0
0
18, 527
0
0
0
5. 807
0
0
0
215, 553
14, 550
25, 420
11, 547
26,955
20, 776
34,822
35,415
31,675
50,644
25,100
18, 435
33, 775
34, 857
26,580
11,027
21,315
27,073
80. 540
5, 261
38.800
7,855
401, 830
327, 403
52, 018
238,085
23, 300
74, 427
2,497
71,625
0
195, 656
34,265
11,552
7,922
7,060
161, 391
22, 782
102,098
34, 837
200,711
103,661
63,178
'6,240
21,329
97,050
16, 336
74,658
4,000
131,811
89, 427
43. 578
40, 687
1,210
42, 384
16,890
21, 841
0
135, 854
'76,793
'34,224
'8.893
27, 745
'59,062
16, 880
'38,346
0
170, 032
87,186
46,150
28,101
9,890
82, 846
499
82,120
0
'75,609
'56,709
24,067
25,970
3,750
18, 901
12, 626
6,275
0
117,794
'78,585
'46,318
24,072
5, 660
39, 209
6,000
32, 236
0
115. 641
97,114
96, 010
604
0
18,527
12,977
5, 550
0
108.898
103,092
75, 967
15,125
0
5,807
0
5, 275
0
67
38
29
303
281
22
47
25
22
50
10
40
35
20
15
151, 610
150, 913
48, 269
169, 942
65,052
53, 669
457
37
531
77
133,698
'47,069
4, 068
10, 559
22, 852
' 86, 628
34, 875
' 45,753
0
61
43
18
71
34
37
137
67
70
47
33
14
78, 479
93,123
60. 722
113,655
90, 578
99,988
118,505
119,070
46, 577
38,277
500
103
454
93
282
74
294
89
253
154
140
77
178
111
633
196
396
260
628
186
414
255
625
195
409
264
600
211
368
547
219
534
203
307
262
531
195
306
249
515
195
300
247
94.50
78 |
58
20
' 28, 697
56.916
61,358
51,260
183,744 I 113,745
226
496
180
309
240
616
186
395
255
628
189
266
628
189
460
262
95. 50
97.28
61.72
94.80
98.60
47.79
95.04
98.92
47.11
94.86
98.58
48.85
94.74
98.27
50.79
95.25
98.72
50.75
94.80
98.30
49.83
56.27
95.24
97.31
58.45
95.13
97.18
57.40
95. 97
97.98 !
58.95 I
95. 63
97.54
60.29
118.0
117.7
118.7
118.5 j
118.1
118.8
119.2
117.5
117. 5
117.1
116.7
117.8 i
Jft. 1
107.7
103. 5
83.0
24.0
123. 3
110.7
99.2
103.3
106.3
87.9
21.6
129.5
111.5
99.9
104.8
107.1
87.8
23.9
130.4
111.7
99.6
104. 9
107.3
86.8
24.9
131.0
111.1
98.0
105.1
107.2
84.5
24.4
131.2
111.1
99.2
105.3
107.2
85.0
25.1
133.0
112.0
99.4
105. 9
107.4
84.9
24.8
133. 4
112.4
97.4
105.0
104.7
82.4
21.9
125.9
110.7
99.2
106. 7
104.1
86.9
24.1
124. 4
110. 1
99.6
106.9
104.4
87.7
25.6
120.1
108.9
98.8
106.1
101.8
88.6
27.6
119.7
110.2
95, 055
173,215
116,272
222, 973
87, 766
160, 891
105, 508
177, 029
125,159
209, 219
88, 348
161,048
134,712
277,038
125, 744
256, 089
89,449
178,409
137,003 [ 99,075
306,812
202,862
91,838
179,090
78. 266
153, 363
98, 274
201, 056
74,506
144,101
89, 563
155,537
109,888
189,947
76. 382
145, 446
116,561
251, 650
111,586
237, 263
78,643
165, 002
121.066
286, 211
86,629
186,165
SO,772
11)5,276
149, 426
1,010
148,416
135, 174
13, 242
189,118
2, 598
18G, 520
174,588
11,932
140,157
1.431
138, 726
127, 515
11,211
140. 903
1,319
139,044
127,575
22, 009
] 78. 899
1, 307
177. 592
163,413
14, J79
140. 746
1, 470
139,270
125,694
13, 582
224, 737
1, 781
222, 955
20c, 251
17, 705
219, 955
357
263, 055
879
262,176
249,192
12,984
174,011
545
173,407
162,311
11,156
156.658
' 953
15o.705
138.597
17, 109
56,159
51, 952
4,207
53,237
51, 227
2,010
56, 041
51,836
4, 205
53,260
51,279
1,981
56.101
51. 900
4,201
53,217
51,165
2,052
56, 387
52, 192
4,195
53,418
51, 287
2,131
57, 856
53, 673
4,183
55,107
62,984
2,123
57,821
53, 646
4,175
54. 813
52, 732
2,080
58, 237
55, 080
3,157
55, 034
53.257
1,777
59, 07G
55, 924
3, 152
56, 261
54,419
1,842
~>Q2
177
300
238
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.) |
dollars..
Domestic
do
Foreign
do
Standard and Poor's Corporation:
High grade (15 bonds) t--doJ. per $100 bond..
Medium and lower grade:|
Composite (50 bonds)
do
Industrials (10 bonds)
....do
Public utilities (20 bonds)
do
Rails (20 bonds)
do....
Defaulted (15 bonds)t
do
Domestic municipals (15 bonds)
do
U. S. Treasury bondsf
do__ .
Bales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
thous. of dol__
Face value
do
On New York Stock Exchange:
Market value
(io
117.7
i
Face value
do
Exclusive of stopped sales (N. Y . S, E.),
133, 776
face value, total
thous. of dol.
407
U. S. Government
do
Other than TJ.S.Govt., t o t a l . , . d o . . . . 133,369
124, 676
Domestic
do
8,694
Foreign
do
Value, issues listed on N . Y . S. E . :
Face value, all issues
mil. of dol.. 61, 899
58.804
Domestic
do
Foreign
do
3,096
59.112
Market value, all issues
do
57,' 201
Domestic
do
Foreign
do
1,911
Yields:
Bond Buyer:
2.21
Domestic municipals (20 cities).-.percent...
Moody's:
3.37
Domestic corporate
do
By ratings:
Aaa...
...do
Aa
do
3,0L
A
do
3.31
Baa
do
4. 33
By groups:
Industrials
do
2.97
Public utilities
do
3.12
4.03
Rails
do
2.07
3.30
2.95
3.31
4.31
2.74
2.90
3.26
4.28
2.90
3.07
3.92
2.96
3 10
3.95
107. 1
102.3
88.4
26.7
122.1
110.5
i
i
i
|
|
60, 532
60,579 I 60,572
A 71
Z7
dP>f\
57, 411 ! f.,7,4
57,466
121
3,105
3,108
3,
57, 924
5' 584
58,140
56, 051
55, 93
56, 308
1,872
1 791
1,832
9S.9
107. 4
102.2
$7.1
26.4
122. 1
110.7
fi 1.956
58,852
3,105
59. 258
57; 359
1,899
2.02
1.90
1.93
2.24
2.36
2.51
2.38
2.33
3.30
3. 26
3.35
3.35
I
3.27
3.35 I
3.37
3.34
2.74
2.90
3.24
2.75
2.91
3.24
4.30
2.73
2.87
3.21
4.28
2.72
2.86
3.19
4.28
2. SO
2.95
3.27
4.38
2.83
2.96
3. 30
4.29
2.85
2.98
3.29 !
4.29 |
2.86
3.00
3.32
4.30
2.83
2.98
3.30
4.26
2. bo
3.00
3.31
4.27
2.90
3.06
3.92
2. 88
3.07
3.95
2.85
3.05
3.93
2.85
3.04
3.91
2.94
3.12
2.97
3.13
3.93
2.98 !
3.15
3.94
3.00
3.17
3.94
2 96
3.13
3.95
2. 97
3.13
3.97
2.07
3.34
1, IBS
944
218,817 157, 413
206, 145 148. 551
12,672
8, 862
99.3 I
3.29
* Revised.
{See note marked 4' t " on p . S-17.
tRevised series
For data beginning 1931 on Treasury bond prices, which relate to partially tax-exempt bonds, see table 55, p . 17 of the December 1940 SURVEY.
data for Standard and Poor's bond prices are shown in table 36, p . 19 of the January 1942 SURVEY.
•New series. For data on domestic issues for productive uses beginning 1921, see table 34, p . 17 of the September 1940 SURVEY.
95. 64
97. 46
61. 10
Earlier
S-19
SURVEY OF CURRENT BUSINESS
August 1942
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1942
1941
June
September
June
July
August
1942
October
Novem- December
ber
January
February
March
2.25
1.97
2.33
2.01
2.55
2.09
2.58
2.00
April
May
FINANCE—Continued
SECURITY MARKETS—Continued
Bonds—Continued
Yields—Continued.
Standard and Poor's Corporation:
Domestic municipals (15 bonds)—.percent..
U. S. Treasury bonds*
do
2.38
1.97
2.03
1.90
2.08
1.91
2.00
1.94
1.99
1.94
1.91
1.88
1.90
1.85
2.44
1.98
2.45
1.97
Stocks
Cash dividend payments and rates (Moody's):
Total annual payments at current rates (600
companies)...
mil. of dol.. 1, 675.01 , 823.85 1,821.08 1,822.61
Number of shares, adjusted
millions..
938.08
Dividend rate per share (weighted average)
1.79
1.94
1.94
1.94
(600 cos.)
dollars..
2.81
3.01
3.01
3.01
Banks (21 cos.)
do
1.76
1.93
1.93
1.93
Industrials (492 cos.).
do.,..
2.69
2.59
2.59
2.59
Insurance (21 cos.)
do
1.74
1.92
1.92
1.95
Public utilities (30 cos.)..
do....
1.66
1.56
1.56
1.57
Rails (36 cos.).
do
Prices:
Average price of all listed shares (N. Y. S. E.)
45.3
56.7
Dec. 31, 1924=100...
56.5
54.0
Dow-Jones & Co., Inc. (65 stocks)
34.20
42.99
40.95
43.01
dol. per share..
103. 75 121. 57 127. 57 126.67
Industrials (30 stocks)
do
11.93
18.48
18.50
17.61
Public utilities (15 stocks)-.
.do
23.59
29.60
30.19
28.11
Rails (20 stocks)
do
71.07
92.24
91.32
88.29
New York Times (50 stocks)
do
125.05 156.09
162. 57 160.33
Industrials (25 stocks)...
_
do
17.10
21.92
22.36
20.48
Railroads (25 stocks)
...do
Standard and Poor's Corporation:!
66.1
83.2
83.2
79.5
Combined index (402 stocks).1935-39=100...
68.2
84.2
84.3
79.7
Industrials (354 stocks)
do
69.0
88.4
88.0
83.9
Capital goods (116 stocks)
do
67.6
80.2
81.2
76.7
Consumer's goods (191 stocks)
do
81.8
81.0
81.6
Public utilities (28 stocks)
do
58.8
73.8
74.4
70.9
Rails (20 stocks)
do
59.0
Other issues:
66.3
88.4
84.6
89.0
Banks, N . Y. C. (19 stocks)
do....
Fire and marine insurance (18 stocks)
97.2
115.4
111.9
105.9
1935-39=100..
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
411,012 611,464 415,088
Market value
thous. of dol..
18,052 29,073 22,087
Shares sold
thousands..
On New York Stock Exchange:
350,146 522,475 346,227
Market value
thous. of dol..
13, 740 22, 226 15,858
Shares sold
thousands..
Exclusive of odd lot and stopped sales
7,466 10,451
17,871
10,875
(N. Y. Times)
thousands.
Shares listed, N . Y. S. E.:
Market value, all listed shares
mil. of dol.. 33,419 39, 608 41, 654 41,472
1,470
1,464
1,463
1,463
Number of shares listed.
millions..
Yields:
5.8
5.9
6.1
Common stocks (200), Moody's
percent..
5.6
4.5
4.6
4.5
Banks (15 stocks)
do
6.4
5.8
5.9
6.2
Industrials (125 stocks)
...do
4.8
4.0
3.9
4.2
Insurance (10 stocks)
do
8.4
6.4
6.4
6.5
Public utilities (25 stocks)
_do.._.
7.8
5.9
6.0
6.4
Rails (25 stocks)
do....
Preferred stocks, high-grade (15 stocks),
4.05
4.02
4.40
4.15
Standard and Poor's Corp.f
percent..
, 828.35 , 840.31 1,889.13 1,927.69 L, 926. 59 1,857.45 1,850.15 1, 805. 62 , 701. 40
938. OS 938.08
938.08 938.08 938.08 938.08 938.08
938.08 938.03
1.95
3.01
1.94
2.59
1.91
1.58
1.96
2.99
1.97
2.62
1.86
1.58
2.01
3.00
2.05
2.62
1.82
1.58
2.05
2.88
2.09
2.69
1.81
1.77
2.05
2.88
2.09
2.69
1.81
1.77
1.98
2.88
1.99
2.69
1.81
1.77
1.97
2.81
1.98
2.69
1.80
1.77
1.92
2.81
1.93
2.69
1.77
1.77
1.81
2.81
1. 79
2.69
1.75
1.66
55.9
53.2
51.6
48.7
49.2
47.8
44.5
42.6
44.6
42.90
127.35
18.62
29.28
90.91
160.08
21.74
41.26
121.18
17.65
28.54
87.37
153.71
21.04
39.53
116.91
15.93
27.92
87.92
145.66
20.19
36.92
110.67
14.38
25.33
79.17
139.86
18.47
37.86
111.11
14.41
28.01
77.09
133.77
20.41
36.79
107. 28
13.83
27.85
74.46
128. 67
20.26
34.54
101. 62
12.15
26.09
69.17
119. 65
18.69
32.92
97.79
11.06
24. 56
67. 52
117.45
17.59
33.12
98.42
11.68
24.29
68.30
119. 25
17. 35
83.6
84.8
87.8
82.9
81.3
72.6
80.4
81.6
82.2
79.0
78.5
70.3
77.4
78.6
78.7
74.2
74.5
68.4
71.8
73.8
76.3
67.6
66.2
61.0
72.6
74.3
78.6
68.8
66.1
69.0
71.0
74.8
66.2
64.5
68.4
66.0
67.2
70.8
63.9
60.5
65.0
63.3
64.8
67.8
61.8
56.5
61.1
63.2
64.7
66.3
62.9
57.2
60.3
87.6
84.9
78.5
72.1
73.8
70.9
62.6
60.4
62.5
115.6
114.0
111.5
106.1
107.6
101.7
95.9
89.5
90.6
512, 750 493, 760 509,040 1,085,599 512, 503 296, 408 341, 230 272,889
24, 682 24, 724 26, 636 62, 676 28,359
14,018
16, 391 13,613
265,455
12,625
426,839
18,021
413, 341 422,423
18, 512 19,099
929,046
46,891
466, 932 251,187
22,236
10,610
287, 785 226,187 226,102
9, 685
12, 175 10, 079
7, 229
13, 545
13,137
15,052
36, 387
12,994
7,926
8,580
40,984
1,463
39,057
1,465
37,882
1,464
35, 786
1,463
36,228
1,467
35,234
1,467
32,844
1, 469
31, 449
1,469
32, 914
1,469
5.9
4.6
5.9
3.9
6.5
6.3
6.3
5.0
6.4
4.1
6.6
6.5
7.3
5.4
7.3
4.5
7.6
8.2
7.2
5.3
7.4
4.5
7.6
7.2
7.1
5.6
7.2
4.6
7.7
7.4
7.7
6.0
7.7
5.0
S.5
8.2
7.8
6.1
7.7
5.3
8.9
8.3
6.9
5.7
6.7
4.9
8.2
7.8
1.04
4.07
4.15
4.21
4.24
5.2
4.1
6.9
4.11
4. 52
Stockholders (Common Stock)
American Tel. & Tel. Co., total
number.. 639,152 630,956
5,214
5,609
Foreign
do
205, 259 206,050
Pennsylvania R. R. Co., total
do
1,581
1,374
Foreign
do
U. S. Steel Corporation, total
do
164,039 164,785
2,605
Foreign
do
2,580
25.30
Shares held by brokers
percent of total..
24.90
632,293
5,481
205,724
1,535
164,262
2,590
25.00
633, 588
5,281
205,012
1,447
163,732
2,584
25.40
637, 020
5,230
205, 304
1,409
164. 013
2, 596
24.90
FOREIGN TRADE
INDEXES•
Exports of U. S. merchandise:
Quantity
Value
Unit value
Imports for consumption:
Quantity
Value
Unit value
1923-25= 100...
do
do
do
do
do
122
87
71
134
95
71
159
119
75
147
111
76
204
185
90
130
82
63
132
83
63
135
86
64
128
83
65
70
VALUE•
Exports, total incl. reexports
Exports of U. S. merchandise
General imports
Imports for consumption
r
thous. of doLdo
do
do
329, 776
323, 728
279, 536
261,097
358,
348,
277,
264,
649
890
847
685
455,
438,
282,
273,
257
264
513
898
417,139 1666, 376
406,057
262, 680
265, 162
681,979
674,282
234,122 I
222,913 ;
Revised. X Partially tax-exempt bonds.
i Figure overstated owing to inclusion in October export statistics of an unusually large volume of shipments actually exported in earlier months.
•The publication of detailed foreign trsde statistics has been discontinued for the duration of the war, effective with October data. Indexes of the volume of foreign trade in
agricultural products and data on the value of exports and imports by grand divisions and countries and by economic classes, which have been shown regularly in the Survey,
are available through September 1941 in the February 1942 and earlier issues. For revised 1939 data on value of foreign trade see pp. 17 and 18 of the April 1941 issue.
fRevised series. Earlier revised data for Standard and Poor's stock prices and preferred stock yields are shown, respectively, in table 37, pp. 20-21 and table 39, p. 22
Digitized for ofFRASER
the January 1942 Survey.
S-20
SUKVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1942
1941
June
September
June
July
August
August 1942
1942
October
Novem- December
ber
January
February
March
April
11,809
79
11, 582
11.976
12, 134
79
May
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Express Operations
Operating revenue
thous. of dol__
Operating income
do
Local Transit Lines
7. 8060
Fares, average, cash ratef
cents 1,015,722
Passengers carriedt
.thousands..
Operating revenues
thous. of dol._
Class I Steam Railways
Freight carloadings (Federal Reserve indexes) :t
139
Combined index, unadjusted. . 1935-39=100..
135
Coal
do
179
Coke
do
165
Forest products
do
111
Grains and grain products
do
81
Livestock
do
60
Merchandise, 1. c. 1
do . . .
318
Ore
do
145
Miscellaneous
do
141
Combined index, adjusted
do
160
Coal
do
199
Coke
do. . .
159
Forest products
do
113
Grains and grain products
do
103
Livestock
do
60
Merchandise, 1. c. 1
do
183
Ore
do
144
Miscellaneous
do
Freight-car loadings (A. A. R.):f
Total cars
thousands .
3,386
Coal
do
661
Coke
do....
57
Forest products
do
204
Grains and grain products
do
154
Livestock
do
45
Merchandise, 1. c. 1
do
378
Ore
do
359
Miscellaneous
do
1, 528
Freight-car surplus, totalj.--.
do
82
Box carst
do
55
Coal carst
do... 9
Financial operations:
Operating revenues, total
thous. of doL 623,687
Freight
do... 501, 343
Passenger
do
82, 268
Operating expenses
do
378,472
Taxes, joint facility and equip, rents*.-do
126,484
Net railway operating income
do
118, 731
Net income
do
77, 700
Operating results:
Freight carried 1 mile
mil. of tons..
Revenue per ton-mile
cents._
Passengers carried 1 mile
millions..
Financial operations, adjusted:*
Operating revenues, total
mil. of dol
Freight
do
Passenger
do
Railway expenses .
do
Net railway operating income
do....
Net income
do...
Waterway Traffic
Canals:
New York State
thous. of short tons .
Panama, total
thous. of long tons
In U. S. vessels
do
St. Lawrence
thous. of short tons.
Sault Ste. Marie
do...
Welland
do...
Rivers:
Allegheny
do
Mississippi (Government barges only) .do
Monongahela
do
Ohio (Pittsburgh district)
do . .
Clearances, vessels in foreign trade:
Total, U. S. ports
thous. of net tons.
Foreign
do
United States
do...
462
225
10, 839
74
7.8144
809, 340
58. 873
10,874
78
10, 926
11,942
78
12,143
101
11,904
95
14, 051
131
7. 8144 7.8144
7. 8005 7. 8005 7. 8005 7. 8005 7. 8005 7. 8033 7. 8033 7. 8060
7. 8060
792. 539 793, 570 828, 576 895, 991 856, 773 941,924 946,315 885,128 1,003,196 1.004,698 1,034,361
68, 637 65, 004 72, 561 ' 72, 668
57,839
58, 463 59, 865 64, 603 61, 671 68,133
75,512
121
165
140
97
95
97
178
133
141
135
168
143
115
117
101
199
150
135
121
159
146
118
93
99
204
144
3.658
675
53
184
149
82
641
271
1, 603
42
18
10
4,318
790
64
214
194
82
768
277
1,929
61
28
18
136
131
170
141
123
69
101
265
141
139
156
189
136
126
88
102
152
139
138
127
172
149
163
70
99
283
139
138
150
200
149
112
83
100
156
140
140
139
167
160
125
80
99
271
141
139
158
199
152
103
84
99
155
141
145
140
172
149
122
111
102
261
150
130
133
176
138
111
84
97
149
135
144
138
165
147
104
146
101
232
151
3,510
642
54
175
172
39
638
301
1,490
71
34
17
3,413
578
53
174
230
38
603
313
1,425
67
27
20
4, 464
840
66
248
224
55
784
386
1,861
47
19
11
3,539
652
52
176
167
59
618
286
1,529
41
15
10
455,023
377, 534
44,832
298, 932
' 62, 774
*• 93. 316
52, 800
485, 446
405, 503
47. 402
310,035
69,097
106.315
63, 528
493, 674
410,213
49. 773
313,843
68, 513
111.318
65, 500
44,036
.927
2,564
46,067
.947
2,756
49, 237
.902
2,936
47, 616
.928
2,527
51,135
.922
2,397
46, 032
.904
2,299
44, 545
.943
3,055
46, 666
.914
3,078
44,109
.926
2,895
51, 853
.924
3,070
473. 5
398.2
43.3
363.4
110.1
67.8
470.9
395.1
42.3
370.5
100.4
57.3
485.4
407.7
44.4
374.4
111.0
65.2
464.1
389.5
41.6
379.4
84.7
42. 1
452.6
375.9
44.1
403.2
49.4
10.5
476.0
398.7
45.1
403.1
72.9
33.1
486.2
403.2
49.4
409.8
76.4
36.6
495. 3
406.6
53.6
413.1
82.3
40.0
518.9
423.9
60.1
420.3
98.6
57.7
541. 7
443.0
63.0
445.7
96.1
52.4
624
1,585
887
1,001
14, 673
1.895
720
1,659
910
1.043
15, 511
1,960
557
1,366
818
975
15, 235
1,858
507
1.481
719
944
14. 401
1,620
700
1,719
882
948
13, 923
1,688
534
1,546
818
774
12, 223
1,466
0
1,283
538
36
2,137
369
0
0
0
0
0
0
320
250
2,833
1,785
330
270
2,862
1,781
352
265
3, 105
1,771
326
211
2,492
1,691
332
251
2,863
1,759
230
240
2,206
1,374
244
119
2,992
1,711
177
81
2. 753
1.453
167
65
2,762
1,410
6,074
3,957
2,117
6.716
4,584
2,132
6,646
4.418
2,229
6,011
3, 978
2,033
6,072
4,040
2,031
C)
()
128
125
182
129
113
69
138
137
111
167
145
124
101
100
246
149
129
136
184
140
125
95
93
46
134
140
119
153
156
142
99
97
186
152
129
132
184
153
110
76
96
47
135
139
116
150
159
131
95
100
187
151
129
125
175
149
102
77
92
73
139
136
122
168
149
119
97
92
282
143
136
135
176
159
100
90
81
218
142
143
160
200
159
117
101
80
267
141
3,046
575
54
153
155
53
582
77
1,396
75
27
32
3,858
797
71
208
212
65
711
65
1,729
00
22
22
3.123
629
57
185
154
42
597
52
1,407
59
22
20
3,171
610
55
184
146
43
584
72
1,477
58
23
17
3,351
645
56
196
141
50
525
235
1,503
56
28
12
4, 171
830
70
245
174
62
492
420
1,878
70
42
10
488, 979 517, 605 457.012 479, 560 480,691 462, 486 540,118 572, 531
411,241 440,122 385, 241 389, 223 392,571 377, 593 445, 490 468, 007
54, 746 59,106
43. 521 42, 231 40, 519 53, 868 55,697
66,116
312, 287 361, 502 335, 614 352, 532 348, 781 327, 653 360, 011 366, 756
68, 347 87, 749 103,741
72, 622 62, 446 52, 633 46, 480 62,944
66, 486 92, 359 102,034
104,070
93, 657 68, 765 80, 549 68.966
59, 324 53, 676 29, 226 55, 492 26, 130 23,716
46, 888 57, 900
601,002
487, 982
74, 345
375, 440
115,933
109, 628
63, 600
r
138
139
181
161
99
89
62
303
144
143
164
19?
155
115
98
62
289
142
53,631
.937
3,427
584.2
474. 8
71.3
471. 5
112.7
70.3
617.8
499.4
81.0
486.5
131.2
201
386
10,216
1,025
100
784
15,883
1,516
206
Travel
Operations on scheduled air lines:
Miles
flown...
thous. of miles..
11,472
12.154
12,472
12,127
10,855
12, 200 11,501
11,352
11,340
11.127
,544,111 1,822,217 1,842.858 1,962,284 [, 760,770
Express carried
.pounds..
1,689,093 ,385,786 2,531,162 2,169,543 2,560,255 !, 883,891
380,990 398,434 447,316 455,647 420, 393 324,546 298,680 300, 900 286, 435 371,398 428,153
Passengers carried
number..
141,906 147,419 158,068 158,151 150,920 115,825 111, 077 113,135 104, 220 139, 061 158, 218
Passenger-miles flown.. thous. of miles..
Hotels:
3.43
3.29
3.52
Average sale per occupied room
dollars..
3.30
3.56
3.61
3.39
3.55
3.39
3.64
3.40
3.30
3.26
71
Rooms occupied
percent of total..
64
68
69
66
69
71
61
70
72
71
71
70
128
Restaurant sales index
1929=100-.
115
121
103
107
••108
114
101
103
121
107
100
108
Foreign travel:
U. S. citizens, arrivals
number..
13, 203 13, 491 14,613
11,328
8,991
11,668
10, 799
9,456
6,723
8,745
7,569
U. S. citizens, departures
do
17, 277 10, 739 13,718
11,807
8,748
9,942
11, 339
7,871
5,754
6,807
10, 222
11,145
Emigrants
do
853
1,676
729
612
945
714
686
408
448
462
532
389
3,083
Immigrants
_
..do
6,002
3,359
3,911
2,256
2,188
2,581
1,954
1,924
1, 560
1,699
1,673
5,673
4,878
5,734
4,687
5,177
4,331
4,549
16, C
5,145 '6,020 j ' 6, 881 ' 7, 855
Passports issued d*
do
7,791
f
Revised.
T Data for August and November 1941, January and May 1942 are for 5 weeks; other months, 4 weeks.
•New series. Adjusted data on financial operations of railways beginning 1921 appear in table 33, p. 16 of the September 1940 issue. The new series on taxes and joint
facility and equipment rents is shown to provide figures for obtaining total railway expenses as given in the adjusted figures of financial operations.
fRevised series. Data on fares revised beginning August 1936; see p. 45 of the July 1940 Survey. Passengers carried revised to cover data for 188 companies. Data for
1940 on the revised basis differ only slightly from those shown in table 13, p. 8 of the March 1941 Survey. Revised indexes of freight carloadings beginning 1919 appear in table
23,
pp.
21-22 of the August 1941 Survey.
JData represent daily average for week ended on the last Saturday of the month.
° Data have been discontinued for the duration of the war.
http://fraser.stlouisfed.org/
cfBeginning Feb. 1942 data include passports issued to American seamen.
Federal Reserve Bank of St. Louis
S-21
SURVEY OF CURRENT BUSINESS
August 1942
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1941
1942
June
June
July
August
September
1942
October
Novem- December
ber
April
May
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPOETATION-Continued
Travel—Continued
National parks:
Visitors
number. 221,697
67,454
Automobiles
do
Pullman Co.:
Revenue passenger-miles
-.thousands..
Passenger revenues...
thous. of doL..
COMMUNICAT1ONS
Telephone carriers:
Operating revenues
thous. of doL .
Station revenues
do
Tolls, message._
.do
Operating expenses
do
Net operating income
do
Phones in service, end of month.thousands..
Telegraph and cable carriers:!
Operating revenues, totalf
thous. of dol_.
Telegraph carriers, total
do
Western Union Telegraph Co., revenues
from cable operations
thous. of doL.
Cable carriers
do
Operating expensesf
do
Operating incomef
do
Net incomef
do . . .
Radiotelegraph carriers, operating revenues
thous. of dol.
578,071 1,029,648 1,112,293
173,139 292, 273 302,025
850,348
5,074
430, 608 253, 489 129,890
132, 359 78,112
39, 383
797.408
4,857
897,614
5,145
825,839
4,880
120,113
75, 524
35,072
76, 626
21,037
20,443
120,116 119,224 121,259
74,236
74,858
76,470
35, 543 35,266
35.029
80,329
77, 934 79,159
18, 554 19, 553 20,477
20, 535 20,657 20,817
59,812
18,152
60,767
17,477
59,338
16,821
60, 808
17, 760
94,192
28,203
137,187
41,196
840, 925 763. 624 1,017,616 1,273,822 1,208,162 1,288,858 1,380,255 1,445,506
8,092
5,138
4,776
5,608
6.929
6,421
7,784
6,935
124,000 119,818 128, 993 128,257
78,700
77,292
80,229
79,974
35, 368 32,526
37, 782 37,441
82,052
79, 651 87, 307 82,935
20,165
19, 645 32, 532 21,166
20,954
21,067
21,206 21,362
123,860
77, 771
34,961
79, 414
21,307
21,481
130,347
79,698
39, 471
84,365
21,647
21, 595
131, 727
80,264
40,207
84, 372
21, 596
21, 702
133,076
80,070
41,616
85,655
22, 264
21, 815
12, 728
11,731
12, 875
11,734
12, 674
11,616
12,555
11,461
12, 566
11,493
11,583
10,436
15,448
14,089
12, 732
11,563
11,697
10, 724
13,074
11, 940
13, 587
12, 553
13,877
12,824.
997
10,516
637
267
551
1,141
10, 965
966
513
499
1,058
10, 758
1,065
518
1,094
10,830
782
401
553
1,073
10,809
784
316
533
1,147
10,276
300
734
1,359
12,003
2,215
1,488
620
1,169
11,054
585
61
565
972
10, 246
465
'65
663
1,134
10,889
918
480
661
1,035
11,188
1,088
572
658
1,053
11, 639
905
380
1,337
1.386
1,264
1, 205
1,316 I 1,197
1,442
1,163
1,092
915
1.032
1,108
.58
.28
.58
.28
.58
.28
.58
36,453
41,045
40, 545
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Alcohol, denatured:
Consumption-__
thous. of wine gal
Production
.
do._
Stocks, end of month
do
Alcohol, ethyl:
Production
-thous. of proof gal..
Stocks, warehoused, end of month
do
Withdrawn for denaturing.
do
Withdrawn, tax-paid
_do
Methanol:
Exports, refined.
-gallons..
Price, refined, wholesale:
.58
Natural (N. Y.)cf- —
__dol. per gal..
Synthetic, pure, f. o. b. works*
do
Production;
Crude (wood distilled)
thous. of gal..
Synthetic._*_
do
Explosives, shipments
...thous. of lb_. 42,101
Sulphur production (quarterly):
Louisiana
...long tons.. 163,810
Texas
do
Sulfuric acid :1
Price, wholesale, 66°, at works
16.50
dol. per short ton.
FERTILIZERS
Consumption, Southern States
thous. of short tens..
Exports, total§
_
long tons..
Nitrogenous§
_.i.do
Phosphate materials!.
_
do
Prepared fertilizers.
do
Imports, total§..
do
Nitrogenous, total
do
Nitrate of soda
do
Phosphates.
do
Potash §
do
Price, wholesale, nitrate of soda, c. i. f.
ports*
_.dol. per cwt._
1.650
Potash deliveries
short tons..
Superphosphate (bulk).
Production
do
Shipments to consumers.
_do
Stocks, end of month
do
NAVAL STORES
Rosin, gum:
Price, wholesale "H M (Savannah), bulkf
dol. per 100 lb..
2.95
Receipts, net, 3 ports
bbl. (500 lb.)
Stocks, 3 ports, end of month
do
Turpentine, gum, spirits of:
Price, wholesale (Savannah)
dol. per gal._
.63
Receipts, net, 3 ports
bbl. (50 gal.).
Stocks, 3 ports, end of month
do..
OILS, FATS, AND BYPRODUCTS
Animal, including fish oils (quarterly):%
Animal fats:
Consumption, factory
thous. of lb
379, 256
Production
_do .. 699, 673
Stocks, end of quarter..
do . . . 365,870
Greases:
Consumption, factory
...do 135, 020
Production
do
141,187
Stocks, end of quarter
do ._102,044
15, 614
15,678
1,095
15,035
15, 242
1,293
15, 264
15,065
1,089
17, 100
16. 908
861
18,302
18,185
740
16, 977
16, 965
724
32, 224
10. 392
27, 830
3,224
33. 021
7,108
27, 564
2,838
34,299
10,117
27, 327
3,071
35.757
6,491
30.433
3,435
36. 393
7,143
32, 604
2, 555
37.541
8.038
30.371
2. 505
16, 668
21,fiO5
7,545
9,340
C)
.44
.30
.44
.29
450
5.006
41,363
487
5. 085
43,676
.39
.30
436
4,663
39, 460
.44 i
.30
417
4,725
41.273
502
5,416
42.629
.54
.28
529
5, 104
37, 486
CO
CO
CO
.58
.28
557
5, 663
38, 879
.58 ;
)
36,720
37, 681
129,365
670,063
135, 285
802, 576
16. 50
16. 50
1650
16.50
16.50 I
16. 50
16.50
58
71
104
66, 651 164, 695 295, 885
15. 675 17, 783
11,688
48, 265 141,557 270.646
407
201
2.311
74, 439 33, 638 69, 096
62,840 32. 591 67. 406
16,350 32,148
27,341
457
25
303
20
3
8.307
134
136, 503
13,196
105,919
2,879
118,139
10R. 759
67.594
780
5, 951
186
267
1,030
1,003
1,060
678
287
' 1. 650 ' 1. 650 n. 650
39,943
56, 039 53,646
1.650
59,897
'1.650
57,113
1. 650
56,386
r 1. 650
44,994
' 1.650
29, 714
373, 864 383, 499 379, 267 364, 505 413,240 419,946 487. 558 487,164 457, 302 480,018
68. 813 52,317 65,150 130.906 129, 293 87, 581 80,113
77, 725 146,846 204, 855
808, 741 914,302 978,014 1,022,410 1,051,966 1,050,633 1.049,268 1,082,860 h o i 7.847 911,507
431,634
254,239
730,135
440,685
147,473
760, 761
2.89
16,353
239,817
2.82
.65
4,550
17,010
.61
130,090
577,384
16.50
1.470
58, 228
1.88
31.069
483, 751
.42
10,064
31,978
1.470
41,094
r
1. 650
48,882
168
()
2.45
2.44
2.13
2.49
2.64
2.89
33, 706 29, 886 29, 282 24, 526 34, 516 34, 637
461,157 428,945 419,979 372, 983 297,168 270, 383
.47
8,482
35, 617
.67
10,066
34, 339
.76
10, 755
36, 669
110,115
725, 579
.78
10,942
26, 389
.76
5,999
18,955
.73
12, 231
15, 676
3.16
30,214
269,496
.76
6,357
26, 594
r
1. 650
51, 402
r
3.22
3.06
19,862
3,733
257, 926 250,110
.76
1,127
20. 496
.73
784
16, 675
336, 766
644,068
684,677
338. 647
585, 293
504,968
350, 722
761, 446
461, 497
395, 967
776, 542
445,114
126,164
128,065
116,476
121,155
124,006
103,068
118,673
140,991
105,815
125,047
140,105
100,330
• Deficit.
§ D a t a revised for 1939; for exports, see table 14, p . 17, a n d for i m p o r t s , table 15, p . 18, of t h e April 1941 S u r v e y .
• P u b l i c a t i o n of detailed foreign t r a d e statistics has been discontinued for t h e d u r a t i o n of t h e w a r .
» D a t a are no longer available for publication.
{Revisions for q u a r t e r s of 1940 n o t s h o w n in t h e D e c e m b e r 1941 S u r v e y will b e shown in a s u b s e q u e n t issue.
I T h e c o m p i l a t i o n of d a t a on c o n s u m p t i o n , production, purchases, s h i p m e n t s , a n d stocks of sulfuric acid b y fertilizer manufacturers formerly p u b l i s h e d i n t h e S u r v e y
has been d i s c o n t i n u e d . T h e B u r e a u of t h e Census is n o w collecting similar information from all producers of sulfuric acid; these d a t a are available b e g i n n i n g S e p t e m b e r 1941.
t Revised series. D a t a for telegraph a n d cable carriers revised beginning 1934, see table 48, p . 16, of t h e N o v e m b e r 1940 S u r v e y . Wholesale price of g u m rosin revised beginning 1919; see table 3, p . 17 of t h e J a n u a r y 1941 S u r v e y .
*New series. D a t a beginning 1926 for price of s y n t h e t i c , refined m e t h a n o l will b e s h o w n in a s u b s e q u e n t issue, cf F o r m e r l y designated "refined ( N . Y . ) . "
http://fraser.stlouisfed.org/
• F o r m e r l y designated "95 percent ( N . Y . ) . " T h e r e h a s been no change in t h e series.
Federal Reserve Bank of St. Louis
3-22
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, to- 1942
gether with explanatory notes and references
to the sources of the data, may be found in the
June
1940 Supplement to the Survey
August 1942
1941
June
July
August
September
1942
October
Novem- December
ber
JanuFebruary I ary
March
April
May
CHEMICALS AND ALLIED PRODUCTS—Continued
OILS, FATS, AND BYPRODUCTS—Con.
1
Animal, including fish oils, quarterly t--C on.
Fish oils:
Consumption, factory
thous. of lb._ 42, 798 r r 54, 567
8,157
Production
do
11 713
160,540 '•123,663
Stocks, end of quarter
_
do
'Vegetable oils, total:
Consumption, crude, factory (quarterly)!
mil of 1h
743
50, 018
83,140
162, 659
1,027
11,437
4,729
...thous. of lb._
Exports... .
53, 087
69 615
do
Imports total S
8,596
13, 322
Paint oils t
do
44, 491
56 293
All other vegetable oils t
do
762
710
Production (quarterlv)!
mil of lb
Stocks, end of quarter- J
* 662
Crude
761
do
r
do
521
501
Refined
Copra:
Consumption, factory (quarterly)i.short tons. 14, 611 64,550
24,943
Imports
dr»
17 259
28,109
Stocks end of quarter !
do
Coconut or copra oil:
Consumption, factory:
35. 085 '184,122
12 995 r 68, 973
Tiffin pel fouaxfprlv) t
do
1,435
2,474
do
In oleomargarine
26,884
Tm p o r t s S
30 973
do
Production (quarterly): t
81,054
do
17,740
Crude
90, 962
13 512
Refined
do
Stocks, end of quarter: t
r
126 087 176, 391
do
Crude
15,064
10 017
do
Cottonseed:
121
88
79
Consumption (crush)__ thous . of short tons,.
27
19
do.. .
44
Receipts at mills._
190
116
131
Stocks at mills, end of month
do
Cottonseed cake and meal:
1
114
Exports 5
short tons
52, 976
38, 269
35,503
Production
. . - do
do... 250, 715 224. 275 164, 444
Stocks at mills, end of month.
Cottonseed oil, crude:
42, 978
26, 288
. ..thous. of lb . 27, 534
Production
51, 961
51, 291
29, 708
Stocks, end of month
do _
Cottonseed oil, refined:
?32 482
..:
do....
In oleomargarine
Price, wholesale, summer, yellow, prime
.138
dol. per lb
(N. Y.I .
52, 807
...thous. of lb
Production
_. ._
Stocks, end of month
do . . 369, 745
Flnxseed:
Imports
thous of bu
Minneapolis:
633
do....
Receipts
130
do
Shipments
826
do—.
Stocks
Duluth:
129
do....
Receipts
233
Shipments
do
423
do -.
Stocks
Oil mills (quarterly):
12, 526
do
Consumption t
3 965
2. 54
Prioe, wholesale. No. 1 (Mpls.).-dol. per bu..
Production (crop estimate")
thous. of bu._ 2 41, 592
Linseed cake and meal:
7,185
94,756
7,120
87, 636
788
7,428
93,221
5,767
87,453
723
2,421
46, 369
56, 403
33, 766
36,413
187, 302
73, 983
3,574
44, 695
50,176
7,128
171, 398
1,106
1,048
1,205
1,018
902
450
895
513
64,993
36,158
b
()
700
300
25,487
54,513
81, 685
189, 916
(6)
4,680
(a)
33, 789
4,198
184,737
79,028
4,153
2,146
728
113 643
49, 437
481
70,444
93, 710
80,366
97,464
45, 392
65,072
186, 290
16, 994
178, 463
16, 248
135, 790
15,131
136
(0
586
679
1,437
505
361
1,293
474
218
1,037
413
144
768
317
52
503
224
22
301
144
21
177
294, 821
291,815
255, 608
356, 670
222, 533
380, 366
206, 817
370,564
176,833
372,208
139,742
338, 711
97,180
311,403
62, 361
286,844
129, 499
79, 584
208, 538
133, 228
178, 276
159, 259
154,450
169, 998
146. 676
181, 533
128,843
170,913
101, 526
137,975
72, 671
105, 714
47,058
80,989
11, 883
10,235
107
105
129
419
1,040
749
669
1,264
1,344
53
46,186
131,618
102
180, 929
174, 385
33, 779
32,107
(b)
402, 720
10, 816
11,413
10,131
317, 273
12, 525
13, 708
14, 650
287,061
14,129
14, 427
14,738
292 882
13,837
.115
76, 620
372, 756
.118
49, 627
294,005
.119
32, 828
234, 242
.136
63, 536
178, 724
.129
143, 761
203, 544
.124
142, 251
273, 448
.131
136,112
314, 330
.137
119,457
322, 972
.139
130,622
351,683
.140
127,442
389,010
.140
100,548
402, 540
.141
71, 502
394, 580
mi
866
1,051
1,139
1,853
805
185
1,885
722
161
1,107
8,323
297
3,864
3,682
412
4,773
1,777
120
4,714
742
67
4,443
662
101
3,897
1,292
311
3,430
704
141
3,105
708
154
2,634
490
144
2,120
585
90
1,078
165
310
236
219
207
247
348
109
485
1,252
319
1,418
1,000
481
1,937
192
438
1,691
180
467
1,404
17
36
1,386
3
249
1,067
5
46
1,026
4
105
925
56
455
527
1.89
12,175
12, 385
1.99
1.87
1.84
13,065
12, 557
2.00
»31,485
2.23
2.33
13, 425
8 477
2.60
2.62
2.58
9,386
3,501
1.87
1.92
1,740
914
392
Exports^
thon<! of lh
907
45,840
37,400
34,360
32,120
53, 760
22, 360
51, 840
29, 280
do . . 23, 440
37,640 34, 400
28,880
25,840
Shipments from Minneapolis.
Linseed oil:
141,
913
146,147
143,232
do . . . 151.183
153, 620
Consumption, factorv (quarte rly)!
.114
.108
.108
.139
.112
.108
.101
.113
.141
.113
.141
.119
-..dol. per lb
.133
Price, wholesale (N. Y.)
236, 744
251, 723
Production (quarterly)
...thous. of lb.. 241,015 183, 309
258 720
17,950
21, 350
21,050 ~~24~3<J6~ ~~21~506~ 21,900
15, 750
22, 000
22,250
23, 600
do-... 22,100
30, 000
Shipments from Minneapolis .
22, 400
161,255
198, 579
225, 615 151. 035
do
235, 897
Stocks at factory, end of quart er!
Soybeans:"
r
13,175
19,232
15,
830
18,
497
.thous. of bu..
Consumption (quarterly)
20, 500
Price, wholesale, No. 2, yellow (Chicago)
1.83
1.57
1.58
1.67
1.39
1.60
1.83
1.72
1.50
1.83
1.95
1.80
dol. per bu..
1.86
106,712
Production (crop estimate)... ..thous. of bu__
690
19,431
8.
481
11,624
do
Stocks end of quarter
19 007
Soybean oil:*
Consiimj)tion, refined (quarto?rly)
90, 803
98,205
123, 400 104, 740
thous. of lb
118,285
Price, wholesale, refined, dom estic (N. Y.)
.124
.121
.114
.126
.125
.132
.135
.135
.114
.135
.120
.135
dol. perlb..
.135
Production (quarterly):
177, 217
115,686
167, 945 141,180
thous oflb
188 805
Crude
96,951
108,850
147 269 126 301
Refined
do
151 998
Stocks, end of quarter:
r
29,666
68,450
78 719
34.823
do
86 231
Crude
r
do
36,120
41,846
40, 606
76, 098
Refined
56 639
Oleomargarine:
25,174
33,932
32,147
33,754
33,095
25, 719
35, 848
23,079
26, 759
25,909
31,767
29, 721
Consumption (tax-paid withdrawals)©.do
Price, wholesale, standard, uncolored (Chi.133
.140
.140
.145
. 154
.140
.140
.140
.150
. 150
.150
.153
cago)
,- dol. Der lb
.150
33,124
28,641
25.089
24,803
32, 503
34,638
35, 071
27,365
34,060
32, 541
27,600
Production©
- ._.thous. of 3b._
30, 768
1
2
b
• Not shown separately.
Dec. 1 estimate.
.July 1 estimate.
Publication of detailed foreign trade statistics
has been discontinued for the duration of the war.
c
§Data revised for 1939; for exports, see table 14, p. 17, and for imports, table 15, p. 18, of the April 1941 Survey.
Less than 500 pounds.
{Revisions for quarters of 1940 not shown in the December 1941 Survey will be shown in a subsequent issue.
*New series. Earlier data for the series on soybeans and soybean oil will be shown in a subsequent issue.
tRevised series. The series on imports of paint oils and all other vegetable oils have been revised to exclude data for oiticica oil from "all other" where they have been
included and include them with paint oils. Earlier data are available on request. The revision does not affect the total imports of vegetable oils.
©Data revised beginning July 1939, see note marked " t " on p. 40 of the April 1941 Survey,
S-23
SURVEY OF CURRENT BUSINESS
August 1942
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1942
1941
June
September
June
July
August
1942
October
Novem- December
ber
January
February
March
April
May
CHEMICALS AND ALLIED PRODUCTS—Continued
OILS, FATS, AND BYPRODUCTS- Con.
Shortenings and compounds:
Production
thous of lb. 246,304
Stocks, end of quarter.
do...
63,208
Vegetable, price, wholesale, tierces (Chicago)
PAINT SALES
dol.perlb.
Calcimines, plastic and cold-water paints:
Calcimines
thous. of doL
Plastic paints..
do.._
Cold-water paints:
In dry form
_
do_._
In paste form
do_._
Paint, varnish, lacquer, and fillers:!
Total
_..do__.
Classified, total.
_
_do___
Industrial
do_._
Tradedo__.
Unclassified
...do...
327,615
50,474
410,382
45,967
329, 867
60, 790
315,707
53,351
.133
.143
.145
.153
.156
.153
.156
.164
.165
.165
.170
.170
202
53
178
51
183
57
195
67
171
161
40
217
47
190
46
172
36
162
43
161
51
193
49
262
392
246
224
359
279
462
253
471
210
278
175
496
185
428
196
323
183
412
54,336
49,072
21,022
28,049
5,265
48,980
44,407
20,133
24,275
4,573
48,647
44,140
20,247
23,893
4,506
50,363
45,334
19,709
25,625
5,029
51,138
46,178
21,454
24,724
4,960
41,368
37, 531
18,727
18,804
3,837
41,708
37,861
19,200
18,661
3,848
47,044
42,032
19,190
22,842
5,012
45,176
39,745
17,619
22,126
5,431
48, 070
42, 617
215
1,374
1,364
242
1,387
1,475
229
1,309
1,353
243
1,437
1,510
284
1,479
1,565
252
1,521
1,630
268
1,483
1,569
1,485
1,658
272
1,618
1,755
101
557
523
18
513
523
14
507
541
17
573
580
19
585
622
21
630
723
22
558
624
23
501
550
3,241
3,048
2,457
2,264
2,467
2,346
2,670
2,506
2,991
2,813
3,439
3,453
2,979
2,777
3,570
981
1,436
1,153
4,062
1,178
1,549
1,334
3,981
1,157
1,543
1,281
4,146
1,227
1,535
1,385
4,737
1,345
1,724
1,668
3,825
1,070
1,315
1,441
260
594
23,719
5,453
50, 530
44,849
19,009
25,840
5,681
49, 204
44,141
18,140
26,000
5.064
251
1,377
1,545
242
1,434
1,394
245
1,415
1,526
186
1,296
1,305
24
585
542
33
567
504
22
519
50
568
588
5S
465
483
3,397
3,165
3,789
3,597
3,478
3,225
3,644
3,444
3,607
3,461
3,179
3,054
3,033
813
955
1,265
2,743
675
761
1,307
3,085
782
862
1,441
3,692
969
1,132
1,592
4,198
1,178
1,511
1,509
4,391
1,228
1,697
1,466
CELLULOSE PLASTIC PRODUCTS
Nitro-cellulose, sheets, rods, and tubes:
Consumption in reporting company plants
thous. of lb_
Production
do___
Shipments©"..
do_._
Cellulose-acetate:
Sheets, rods, and tubes:©
Consumption in reporting company
plants.
...thous of lb.
Production
do...
Shipments©*
do...
Moulding composition:
Production
do...
Shipments^
do__.
ROOFING
Asphalt prepared roofing, shipments:
Total
thous. of squares.
Grit roll..
do___
Shingles (all types)
do...
Smooth roll
do...
ELECTRIC POWER AND GAS
ELECTRIC POWER
13, 674 14, 323 14, 565 14, 364 15, 246 14,491
15,651
Production, total •
mil. of kw.-hr... 15,178
By source:
9,862 10, 628 10, 364 11,041
9,616
9,826
10,402 11,156
Fuel
-do.
4,461
3,937
4,058
4,000
5,352
4,205
4,495
4,089
Water power
...do
By type of producer:
Privately and municipally owned electric
13,094 12,862
12, 282 12,822
utilities.
mil. of fcw.-hr.- 13,394
13,687
13, 056 14,224
1,501
1,393
1,471
1,501
1,559
Other producers
_-do
1,435
1,427
1,784
Sales to ultimate customers, total f (Edison
12,087 12,146
11,346 11,634
12,380 12,308 12,768
Electric Institute)
mil. of kw.-hr_.
1,927
1,909
2,031
2,092
1,969
Eesidential or domestic
.do
2,266
2,393
231
226
297
329
148
Kural (distinct rural rates)
do
170
Commercial and industrial:
1,980
2,120
2,131
2,045
2,100
2,163
2,189
Small light and power
do
6,346
6,771
6,730
6,479
6,951
6,672
Large light and power
do
138
170
164
140
193
224
Street and highway lighting
do
206
240
251
259
247
275
301
Other public authorities..
do
281
461
467
473
472
501
569
Railways and railroads
do
503
40
40
40
41
42
63
Interdepartmental
...do
47
Revenue from sales to ultimate customers t
214,329 2)7,827 223, 515 226,043 228, 884 234,153 239,611
(Edison Electric Institute)
thous. of doL.
14, 588 r14,991
15,646
14,102
15, 053
11,050
4,595
9,664
4,438
9,438
5,615
8,979
5,609
'9,632
'5,360
14,110
1,536
12,612
1,491
13,322
1,731
12,949
1,639
13, 242
2,673
145
12,572
2,405
156
12, 558
2,244
168
12,536
2,139
206
13,326
r 1,665
12,487
2,047
216
2,450
6,777
217
307
597
76
2,303
6,590
187
306
550
74
2,199
6,828
181
306
560
72
2,156
6,988
158
294
525
69
2,154
7,074
143
294
356
69
230, 766 227,610
225, 602
250, 526 237.957
GAS
Manufactured gas:f
Customers, total
thousands..
Domestic
_..
do
House heating
do
Industrial and commercial
do
Sales to consumers, total
mil. of cu. ft..
Domestic
do
House heating
do
Industrial and commercial
do
Revenue from sales to consumers, total
thous. of dol_.
Domestic
-do
House heating.
do
Industrial and commercial
do
Natural gasrf
Customers, total
-thousands..
Domestic.-.
do
Industrial and commercial
do
Sales to consumers, total
.mil. of cu. ft.Domestic
do....
Ind'l., com'l., and elec. generation...do
Revenue from sales to consumers, total
thous. of doL.
Domestic...
do
Ind'l., com'l., and elec. generation.-.do
10,265
9,492
293
469
30,496
17,011
2,165
11,151
10,296
9,533
283
468
27,849
15,613
1,349
10,696
10,320
9,555
283
470
27,091
15,109
1,108
10, 718
10,402
9,619
308
466
29,210
16, 746
1,203
11,079
10,417
9,617
333
456
31,845
17,462
2,402
11, 747
10,428
9,618
351
450
35,724
15,879
7,491
12,086
10,474
9,646
367
451
39,892
16,200
10,752
12,618
10,434
9,616
344
465
43,705
18,268
12,294
12, 796
30,623
22,211
1.634
6,676
28,303
20,731
1,079
6,401
27,802
20,360
923
6,411
29,887
22,003
1,118
6,657
31,854
22, 712
1,941
7,063
33,692
21,908
4,248
7,373
36,107
22,042
6,191
7,693
38,680
23,016
7,728
7,739
7,823
7,271
550
110,420
21,039
87,003
33,662
16, 327
17,059
7,868
7,882
7,942
7,334
7,392
7,311
545
553
548
110,163 110, 966 115,379
18,259
16,792 17,812
89, 791 91,328 94,873
31,920
14,458
17,115
31,417
13, £34
17,540
32,131
13,836
17,973
8,012
8,174
7,444
7,554
565
617
127,179 143,343
22,400 36,976
102,073 103,639
36,739
16,883
19, 528
46,461
24,655
21,433
42,357
17,672
11,917
12,425
10,454
9,626
343
471
41, 296
17,629
10, 224
13,129
10,463
9,621
359
470
38,161
16,875
7,722
13, 280
37.759
21,924
7,960
7,684
36, 526
21, 663
6,937
7,734
34,286
21, 574
4,881
7,649
10,482
9,651
8,215
8,171
8,272
8,183
8,230
7,585
7,656
7,554
7,572
7,610
628
613
614
609
618
160, 937 178,028 174,389 171, 979 152,971
50,694 67, 790 62,485 61, 451 46,305
107,125 107, 521 108,679 107,491 105, 232
66,124
32,242
23,448
67,665
42,000
25,241
63.760
38,433
24,816
61, 848
37, 312
21.901
52, 552
30,084
22,253
r
Revised.
° No quotation.
cflncludes consumption in reporting company plants. {Excludes consumption in reporting company plants.
• Monthly data for 1920-39, corresponding to averages shown on p. 97 of the 1940 Supplement, appear in table 28, pp. 17 and 18 of the December 1940 Survey; revised data
for all months of 1940 are shown on p. 41 of the June 1941 Survey; revisions for 1941 not shown in the July 1942 Survey will be shown in a subsequent issue.
OData do not include cellulose acetate safety glass sheets.
fRevised series. Manufactured and natural gas revised beginning January 1929; earlier data will appear in a subsequent issue. Revised electric-power sales and revenue
from sales beginning 1937 will be shown in a subsequent issue. Data on sales of paint, varnish, lacquer, andfillerscover 680 companies and replace the series for 579 companies
previously
shown in the Survey; earlier data are shown in table 14, p. 26 of the July 1942 Survey.
S-24
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1942
1941
June
September
June
July
August
August 1942
1943
October
Novem- December
ber
January
February
March
April
May
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:
6,126
6,554
5, 291
5,913
6,145
Production
.
thous. of bb]
6,268
5,240
5,678
6,055
5,786
Tax-paid withdrawals
do...
9,026
8,384
8,605
9,038
8,953
Stocks
do...
Distilled spirits:
21, 201
12, 521 11,075
9,881
Production
_
thous. of tax gal.. &7,378
8,992
9,281
10,092 11,969
9,215
Tax-paid withdrawals
do...
727
1,549
860
855
Imports
thous of proof gal
Stocks...
thous. of tax gal.. > 541,188 551,424 551,435 549,275 547,678
Whisky:
7,764
9,424
9,560
6.571
6,586
Production
..do.
9,212
7,210
6,606
7,104
Tax-paid withdrawals
do.
6,326
788
653
711
1,423
Imports
thous. of proof gal..
Stocks,.
_.thous. of tax gal__ 519,197" 504,081 503, 567 501,587 499,503
Rectified spirits and wines, production, total
5,393
5,871
5,415
5,789
thous. of proof gal._
4,420
4,321
4,807
4,348
4,715
Whisky..
,
do...
3,756
Indicated comsumption for beverage purposes:
12, 698 12,248
15,549
13,028
All spirits
thous. of proof gal.
10, 724 10,084
11,017
13, 561
Whisky
do...
Still wines:
1,636
9,375 95,884
2,663
Production..
thous. of wine gal.
7,843
7,018 10,123
7,580
Tax-paid withdrawals
do...
132
125
169
90
Imports..
do...
117,887 111, 570 106,377 136,457
Stocks
do...
3 parkling wines:
119
77
95
68
Production
do
112
61
71
Tax-paid withdrawals
do...
11
5
4
Imports
do
761
794
817
811
Stocks
do...
4,989
4,920
8,207
3,842
4.074
7,783
4,421
4,521
7,446
4,432
3,970
7,672
4,438
3,763
8,148
30,667
10,505
(-)
555,462
20,768
11,108
18,778
8,586
18, 535
9,233
12,903
9,413
558,967
567,403
574,937
13,632
6,832
505, 557 511,211
13,088
6,519
13,834
7,602
(•)
504,041
6,330
5,167
11,828
8,143
516,456
h
5,154
4,577
8,491
5,728
5,030
8,950
6,142
5,978
8,835
10, 571
11, 312
»9,716
9,641
6 8,137
9,283
577,140 > 542,884 '543,512 '543,094
11,486
6,417
10,020
7,501
9,058
6,631
6,970
5,968
519, 790 520, 765 521, 503 521, 033
5,943
5,040
4,583
3,772
6,006
4,627
6,249
4,881
6,481
5, 627
4,625
3,902
4,621
3,907
54,135
8,832
11,851
10, 633
2,510
8,079
1,846
8,860
1,843
9,446
1,308
8,123
1,063
7,026
158, 041 150,023
142, 528
()
C)
130,886
8,546
<•)
183,015
118
124
(•)
748
193, 275 183,560
176, 627 167, 079
111
137
114
150
78
44
93
36
74
29
719
664
690
742
780
.35
116,659
48,149
114,436
.35
121,410
47,393
83,106
.35
118, 780
47,170
63, 701
.35
.38
.38
137,010 150,695 204,955
55, 718 55,135
71, 554
45,045 37,228 ' 64,720
.26
.25
' 74, 422 69,850 72,105
' 58, 744 56,075 58,055
13, 542 14,356
12,928
201,613 165,018 160,073
171, 869 137, 276 133,140
.24
.23
.23
88, 770 103, 030 136, 280
72, 290 85, 960 114,745
21,965
21, 432 18,066
188, 333 203, 901 222, 637
163, 939 178, 473 195, 537
155
32
119
33
978
DAIRY PRODUCTS
Butter, creamery:
Consumption, apparent!
thous. of lb_.
Price, wholesale, 92-score (N. Y.)-dol. per lb..
Production (factory)t
thous. of lb..
Receipts, 5 markets
do
Stocks, cold storage, end of month
do
Cheese:
Consumption, apparentt—
do
Imports§
do—
Price, wholesale. No. 1 American (N. Y.)
dol. perlb..
Production, total (factory)f
thous. of lb..
American whole milkf
do
Receipts (American), 5 markets
do
Stocks, cold storage, end of month
do
American whole milk
do
Condensed and evaporated milk:
Exports:!
Condensed (sweetened)
do
Evaporated (unsweetened)
do
Prices, wholesale (N. Y.):
Condensed (sweetened)
dol. per case..
Evaporated (unsweetened)
...do
Production, case goods:f
Condensed (sweetened)
thous. of lb..
Evaporated (unsweetened)
do—
Stocks, manufacturers', case goods, end of mo.:
Condensed (sweetened)
thous. of lb..
Evaporated (unsweetened)
do
Fluid milk:
Consumption in oleomargarine
do
Price dealers', standard grade.dol. per 100 l b .
Production (Minneapolis and St. Paul)
thous. of lb.
Receipts:
Boston
thous. of q t .
Greater New York
do...
Powdered milk:
Exports.
thous. of l b .
Production!
do_._
Stocks, manufacturers', end of m o n t h . . d o . . .
.37
203, 860
83, 601
117, 652
150,124
.36
209,875
78,217
120,246
70,289
1,437
.22
.24
131,100 104,829
109,900 '85,003
21, 551
24,416
261,563 142,369
228,399 121,064
5.90
3.75
138, 545 150, 745 147,036
()
.37
.35
.36
.36
194,135 168, 339 146, 069 133, 530 112, 461
43,433
55,666
73,993
60,942
53,025
178,493 200, 228 202,957 186,635 152,484
57,130 66,496
66,765
1,464
2,094
1,758
.24
r 94, 930
r 77, 735
22,212
168,420
139, 568
.24
' 91, 382
' 75,680
15,634
184,940
151,906
.26
' 86, 551
' 70,734
18,097
188,337
156,746
7,333
43,383
7,111
60.153
8,865
40, 687
6,300
45, 875
5.40
3.45
5.48
3.60
5.80
3.70
5.56
3.85
.26
' 83, 607
' 66, 887
15,784
188, 727
157,468
5.40
3.85
.26
'71,426
' 56, 334
13,648
189,002
158,238
5.90
3.85
5.90
3.85
5.90
3.85
3.85
5.90
3.85
3.80
5.90
3.75
3,853
' 8, 560 ' 6, 922 3,079
5,426
6,782 '10,939 ' 10, 883 ' 10, 586 ' 9, 423
4,404
4,356
402, 584 • 350,073 310, 791 308,855 290, 634 281, 683 259, 758 '286, 684 310,952 296, 877 335, 203 356, 799 440, 682
9,000
6.223
11,245
11,906
12,024
10,009
9,783
10, 494 10,062
6.469
7,445
8,292
8,178
330,810 189, 711 261, 559 289,904 339,716 382, 605 417,643 328,475 252, 532 218,410 213, 550 222, 485 294,579
6,113
5,764
6,044
6,049
6,230
4,627
4,919
4,582
5, 474
5,167
4,919
2.73
2.60
2.70
2.32
2.66
2.29
2.49
2.40
2.74
2.75
2.75
2.75
39, 349 38, 794 44, 986 43, 796 49,032
29,018 35,194
42,475 35, 932 30,658 25,972 27,159
22,179
132,294
22, 769 22,027
131,958 127,050
21, 895 21,802
132, 725 135,906
7,005
6,336
2,760
4,155
79, 600 ' 56, 038 ' 41, 738 ' 36,885 r 32, 979
26,975
61, 604 37, 231 34,108 31,705
20,842
126,453
)
29,169
21, 470
26, 305
18, 732
11,073
31,321
10,460
3,641
6,322
31,181
14, 313
2,491
21,162
130,314
21,250
126,383
19, 575
115, 501
31, 253 ' 40,000 • 41,800
22,931
20,156
28, 789
22, 756 22, 655 24, 321
130, 619 129, 195 135, 661
54,000 ' 61. 400 78,100
38, 482 47, 459 60, 595
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)!
thous. of b u . .
Shipments, carlot
_no. of carloads..
783
Stocks, cold storage, end of mo.-thous. of bu_.
0
Citrus fruits, carlot shipments.no. of carloads.. 15,894
Onions, carlot shipments
do
2,246
Potatoes, white:
Price, wholesale (N. Y.)
dol. per 100 l b . .
2.883
Production (crop estimate)
thous. of bu__ 369,825
Shipments, carlot..
no. of carloads.. 24,473
GRAINS A N D GRAIN P R O D U C T S
Exports, principal grains, including flour and
meal§
thous. of b u .
Barley:
Exports, including malt§.
do...
Prices, wholesale (Minneapolis) :
No. 2, malting
dol. per b u . .
.68
No. 3, straight
do
Production (crop estimate)
thous. of b u . . 403,345
7,049
Receipts, principal markets
do
3,600
Stocks, commercial, end of mo
.do
940
0
15,164
2,094
681
0
12,484
1,039
498
0
10, 413
1,706
5,236
10,351
8,236
3,854
126,076
4,974
25, 732
17,051
1,947
3,704
20,162
20,329
2,660
3,951
14,238
18,052
1,856
2.363
1.970
1.808
1.845
1.944
2.163
2.330
357,783
2.638
2.719
19,889
13,897
8,393
11,295
16,716
14,162
14,016
21, 738
16, 556
3,330
4,042
5,037
9,116
232
178
574
284
C)
C)
.51
.45
.55
.51
.69
.60
4,001
8,207
20, 831
1,466
2.525
21, S
3,315
3,521
19, 592
2,925
1,840
1,259
19, 312
4,672
2.250
2.644
19, 82?
21,016
.69
.82
.77
.87
.92
.68
.73
.70
.71
.55
.76
^358,709
14, 111
4,813
6,028 10,468
9,116
13, 239 12,190
!,827
7,220
6,064
7,838
5. 770
4,931
5,471
5,514
8,739 10,002
6,344 | 4,541
6,977
7,757
9,656
8^324
r
2
b
Revised.
i December 1 estimate.
July 1 estimate.
Not including high-proof spirits produced at registered distilleries.
^Production in "commercial areas." Some quantities unharvested on account of market conditions are included. §See note marked " § " on p. S-26.
• The publication of detailed foreign trade statistics and consumption series in which trade statistics are used has been discontinued for the duration of the war.
fFor revised 1939 and 1940 data for the indicated series on dairy products, see note marked " t " on p. S-24 of the December 1941 Survey; revisions for 1941 not shown above
are available on request.
http://fraser.stlouisfed.org/
JHeretofore data published currently represented only reporting companies. Beginning with the April 1942 issue of the Survey, all data are estimates of total production
comparable
with 1940 data on p. S-24 in the December 1941 Survey; revised 1939 data are available on request.
Federal Reserve Bank
of St. Louis
.56
.52
S-25
SUKVEY OF CUERENT BUSINESS
August 1942
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data may be found in the
1940 Supplement to the Survey
1942
1941
June
September
June
August
July
1943
October
Novem- December
ber
January
February
March
April
May
FOODSTUFFS AND TOBACCO—Continued
GRAINS, ETC.-Continued
Corn.
Exports, including meal§
thous. of bu__
Grinding?*
do.
9.768
Prices, wholesale:
No. 3, yellow (Chicago).
dol. perbu..
.85
No. 3, white (Chicago)
do
.96
Weighted avgM 5 markets, all grades.do
.84
Production (crop estimate)
thous. of bu_. 22,627,823
Receipts, principal markets
do
23,327
Shipments, principal markets
do
17,595
Stocks, commercial, end of month
do
57,012
Oats:
Exports, including oatmeal§
do
Price, wholesale, No. 3, white (Chicago)
dol. per bu._
.49
Production (crop estimate)
thous. of bu_. 21,303,114
Receipts, principal markets
-do
3,790
Stocks, commercial, end of month
.do
2,109
Rice:
Exports §
.pockets (100lb.)._
Imports..
do
Price, wholesale, head, clean (New Orleans)
dol. per lb_.
.070
Production (crop estimate)
thous of bu..- 2 75,836
Southern States (La., Tex., Ark., and Tenn.):
Receipts, rough, at mills
thous. of bbl. (1621b.)._
104
Shipments from mills, milled rice
thous. of pockets (100 lb.)._
253
Stocks, domestic, rough and cleaned (in
terms of cleaned rice), end of month
thous. of pockets (100 lb.)_.
282
California:
Receipts, domestic, rough...bags (100 lb.)_. 469,837
Shipments from mills, milled rice
do
392,090
Stocks, rough and cleaned (in terms of
cleaned rice), end of mo..bags (100 lb.)__ 187,381
Rye:
Price, wholesale, No. 2 (Mpls.)..dol. per bu_.
.60
Production (crop estimate)
thous. of bu_. 2 58,213
Receipts, principal markets
do
895
Stocks, commercial, end of month
do
17, 034
Wheat:
Disappearance
do
Exports, wheat, including flour §
do
Wheat only §
do.
Prices, wholesale:
sale:
No. 1, Dark Northern Spring (Minneapolis)
1.14
dol per bu__
1.19
No. 2, Red Winter (St. Louis)
do....
1.11
No. 2, Hard Winter (K. C.)
__.do—.
1.11
Weighted av., 6 markets, all grades.-do
Production (crop est.). total
thous. of bu_. 2904,288
2228,806
Spring wheat
..do
•> 675,482
Winter wheat
do
14,493
Shipments, principal markets
do
Stocks, end of month:
384,
746
Canada (Canadian wheat)
do
United States, total 1
do
224,
441
Commercial.
do
141,789
Country mills and elevators
do
Merchant mills.
do...
159,544
On farms
do_.
Wheat flour:
Disappearance (Rus'l-Pearsall).thous. of bbl
Exports§
do
Qrindings of wheat
thous. of bu_.
Prices, wholesale:
5.51
Standard patents (Mpls.)
dol. per bbl_.
5.09
Winter, straights (Kansas City)
do.
Production:
Flour, actual (Census)
thous. of bbl..
Operations, percent of capacity
Flour (Russell-Pearsall)
thous. of bbl..
Offal (Census).
thous. of lb_.
Stocks, total, end of month (Russell-Pearsall)
thous. of bbl..
Held by mills (Census)
do
295
9,421
1,370
8,736
1,211
9,514
2,834
9,676
()
9,256
.74
.82
.71
.74
.85
.71
.75
.84
.74
.75
.81
.73
.70
.75
.67
19,244
19,098
53,102
22,123
22, 712
43,701
18,776
15,124
40,099
27,496
20, 555
39,137
24,041
17,099
40,135
224
8,653
8,579
9, 732
11,072
10, £
10, 205
.82
.90
.78
.82
.96
.78
.82
.97
.80
.82
.97
.81
.85
.98
.84
29,494
16,280
50,311
30,357
15,849
59,884
24,098
l/,524
60,973
30, 570
19, 793
63, 363
25, 755
16,613
64, 408
.53
11,176,107
7,947
9,473
.58
.56
8,519
8,625
5,670
7,483
5,253
5,893
5,614
4,642
5,813
3,776
92
82
113
.37
.36
.37
.46
.44
.48
3,396
3,906
10,575
7,328
14,607
11, 771
10,414
13,427
6,720
11, 562
7,052
11,030
320,939
9,173
212,497
25,095
262,096
23,418
224, 709
4,709
.047
.044
.041
.043
.049
.064
154,028
n
10,118
.76
.83
.72
12,672,541
24, 354
28,107
15,847
13,193
39, 835
47, 946
.71
.78
.66
.55
.070
.073
72
312
650
2,191
2,321
2,099
1,148
1,325
681
198
70
463
548
822
1,278
1,425
1,772
1,700
1,315
1,405
1,256
471
861
712
1,683
2,627
3,007
2,508
2,583
1,885
844
439
317,389
123,406
256,626
81,128
297,638
82,137
114,931
72,446
263,460
131,856
316,495
290,089
378, 554
260,941
465,182
137,749
229, 404 278,245
97,631 162,316
499,885
420,205
422,998
195,996
302,587
324,405
379,134
337,263
354,827
247, 542
210, 534
343,001
374,565
364, 795 242,690
290,831
.57
.55
.62
.60
.64
2,490
5,639
3,758
11,077
6,944
14,637
4,944
17,243
2,603
17,504
2,150
17,645
.68
i 45,191
2,475
17,474
157,123
2,711
106
2,413
3,137
769
178,704
5,767
3,771
1.00
1.03
1.06
1.08
1.07
1.05
1.14
1.16
1.14
1.12
1.10
1.13
1.12
1.02
14,086
16,394
703
1,457
1.01
1.02
.97
26,611
30,987
17,642
429, 565
385,424
142,671
' 73,789
' 81,598
87,366
432,504
438,088
2,115
16,785
.78
.75
.72
1,913
17,029
1,091
17, 551
566
17,333
1,133
17,240
1.20
1.20
1.15
1.16
185,815
164,501
1.14
1.17
1.13
1.06
1.23
1.27
1.20
1.15
945,937
1274,644
1671,293
14,752
14,579
452,018 476,307 473,995
1,152,108
246," 702 2747629" 284,920 280," 588" 276,260
223,975
154,902
488,311
1.28
1.34
1.26
1.20
1.25
1.31
1.23
1.21
1.24
1.30
1.21
1.19
1.19
1.21
1.15
1.14
10,471
9,155
11,195
12,129
12,861
458, 692 446, 983 420,880
801,792
258," 570' 249,891 237,777 229,407
171,432
122,461
270,122
398,177
471,492
987,607
270,835
207,351
135,601
373,820
465,608
221,896
554
38,819
9,765
507
40,625
8,293
504
39,123
10, 545
425
43, 247
()
44,251
37,560
42,403
43,611
38,621
38,194
36,878
36,141
5.42
4.77
5.42
5.06
5.76
5.36
6.00
5.63
5.75
5.48
5.88
5.44
6.30
5.74
6.48
5.86
6.17
5.63
5.95
5.40
5.84
5.26
8,552
58.9
9,090
669,141
8,918
59.3
10,332
703,201
8,592
9,495
57.2
62.2
65.8
10,553
9,047
11,170
674, 351 745, 899 766, 313
8,216
61.8
9,532
63.5
6.33
5.74
8,479
63.8
8,378
55.7
8,058
53.6
7,903
54.6
732, 746 756,199
663,743
657,985
641,182
628,939
5,400
4,001
5,450
5,700
5,900
4,586
650,110
6,000
" "3,961"
LIVESTOCK
Cattle and calves'.
1,953
1,624
1,815
Receipts, principal markets.thous. of animals.
2,454
2,208
1,728
2,022
1,964
1,741
1,467
Disposition:
1,210
Local slaughter
do.
1,025
1,209
1,085
1,198
1,079
1,032
1,054
1,129
1,116
973
1,094
724
574
724
956
Shipments, total
do.
605
680
961
1,196
816
479
660
612
264
228
341
514
Stocker and feeder
do
235
328
443
310
199
264
Prices, wholesale (Chicago):
10.62
11.24
11.40
11.73
Beef steers
...dol. per 100 lb._ 13.11
11.73
11.55
13.26
12.57
12.60
12.39
12.59
12.99
11.88
12.01
11.71
Steers, corn fed
do
11.93
11.06
11.44
14.09
12.75
13.11
12.66
13.36
13.00
11.13
11.94
13.50
12.38
13.38
13.13
Calves, vealers
do.
12.00
12.60
14.09
13.50
13.80
Hogs:
2,305
2,036
1,895
Receipts, principal markets thous. of animals.
2,832
2,542
2,035
3,639
3,704
2,694
2,638
2,463
Disposition:
2,256
1,707
1,361
1,473
1,488
Local slaughter
.do.
2,098
2,692
1,905
2,670
1,748
1,995
2,020
635
582
560
504
Shipments, total
do
616
529
727
935
710
690
612
1,033
49
54
37
Stocker and feeder
do.
51
42
45
43
51
63
52
57
Prices:
60
Wholesale, heavy (Chi.) ...dol. per 100 lb._ 14.27
10.94
11.42
9.88
10.71
10.88
10.51
10.31
12.49
13.51
14.26
Hog-corn ratio
11.37
16.3
bu. of corn per cwt. of live hogs..
13.1
14.7
15.7
15.2
15.5
14.8
15.3
15.2
15.7
16.9
2
14.5 excluding grindings for export.
'0 Revised. a 1 December 1 estimate.
July 1 estimate.
^Beginning October 1941, data are for domestic consumption only,
See note " " on page S-26.
*> Data not available.
§Data for 1939 revised; see table 14, p. 17 of the April 1941 Survey.
H June figures include only old wheat; new wheat is not reported in stock figures until crop year begins in July.
1,684
981
689
313
13.22
13.48
13.50
1,998
629
52
14.13
16.3
S-26
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, to- 1942
gether with explanatory notes and references
to the sources of the data, may be found in the
June
1940 Supplement to the Survey
August 1942
1941
June
Sep
t e m b*e r
Jniv
July
1943
October
Novem- December
ber
January
February
March
April j May
FOODSTUFFS AND TOBACCO—Continued
LIVESTOCK—Continued
Sheep and lambs:
Receipts, principal markets.thous. of animals.
Disposition:
Local slaughter
.do—
Shipments, total
do
Stocker and feeder
do....
Prices, wholesale (Chicago):
Ewes
dol. per 100 lb_.
Lambs
_
do
MEATS
Total meats:
Consumption, apparent
mil. of lb..
Exports§
do—
Production (inspected slaughter)
do
Stocks, cold storage, end of month
do
Miscellaneous meats.
do
Beef and veal:
Consumption, apparent
thous. of lb_.
Exports§
do_...
Price, wholesale, beef, fresh, native steers
(Chicago)
dol. per lb_.
Production (inspectedslaughter).thous. of lb_.
Stocks, beef, cold storage, end of mo
do
Lamb and mutton:
Consumption, apparent
do
Production (inspected slaughter)
.do
Stocks, cold storage, end of month
do
Pork (including lard):
Consumption, apparent
do—
Exports, total
do....
Lard._
do
Prices, wholesale:
Hams, smoked (Chicago)
dol. per lb..
Lard, in tierces:
Prime, contract (N. Y.)
do....
Refined (Chicago)
do....
Production (inspected slaughter), total
thous. of lb_.
Lardf
do....
Stocks, cold storage, end of month
do
Fresh and cured..
do—
Lardi
do....
POULTRY AND EGGS
Poultry:
Receipts, 5 markets...
thous. of lb_.
Stocks, cold storage, end of month
do
Eggs:
Receipts, 5 markets
thous. of cases. .
Stocks, cold storage, end of month:
Shell
thous. of cases..
Frozen
thous. of lb..
TROPICAL PRODUCTS
Cocoa:
Imports^
-long tons..
Price, spot, Accra (N. Y.)
dol. perlb..
Coffee:
Clearances from Brazil, total..thous. of bags._
To United States
do
Imports into United States§
do
Price, wholesale, Santos, No. 4 (N. Y.)*
dol. perlb..
Visible supply, United States.-thous. of bags..
Sugar:
Raw sugar:
Cuban stocks, end of month
thous. of Spanish tons..
United States:
Meltings, 8 ports
longtons.Price, wholesale, 96° centrifugal (N. Y.)
dol. per lb.Receipts: From Hawaii and Puerto Rico
long tons. .
Imports, total §
.do
From Cuba.
-..do
From Philippine Islands
do
Stocks at refineries, end of month..do
Refined sugar (United States):
Exports
long tons.Pnce, retail, gran. (N. Y.)
dol. per lb._
Price, wholesale, gran. (N. Y.)
do
Receipts:
From Hawaii and Puerto Rico .long tons.Imports, total.
do—
From Cuba
do
From Philippine Islands
do
T>% imports.
thous. of lb_.
"MISCELLANEOUS FOOD PRODUCTS
1,832
1,779
2,023
2,557
2,833
1,818
1,719
1,791
1,535
1,866
1,866
1,037
779
217
933
834
150
971
924
241
922
1,104
377
1,004
1,406
592
1,018
1,820
523
905
945
379
1,016
699
199
1,036
754
197
907
629
126
1,136
721
164
1,042
819
224
3.007
872
258
6.11
13.85
4.10
11.13
4.41
10.75
4.84
10.88
5.14
10.98
5.22
10.63
5.44
10.57
6.06
11.20
6.34
11.88
6.48
11.25
6.91
11.00
11.38
6.84
13. 72
1,229
67
1,190
1,233
75
1,260
106
1,222
1,102
73
1,278
91
1,168
916
72
1,292
97
1,178
730
64
1,503
1,213
1,282
1,338
1,684
903
105
1,728
1.097
123
1,271
1,097
116
1,345
1,046
118
1,376
941
108
525,989
978
569.054
5,473
563,986
4,029
592,169
3,181
1,245
1,418
(•)
1,394
1,435
720
649
73
64
635, 550 524,974
1,477
1,531
825
110
574,166
617, 671
518, 851
560,617
598, 990
.210
609,840
82, 233
.175
512,112
68.442
.171
.176
565,041 557,536
65, 708 67,489
.173
.173
.191
.198
.176
580, 536 642, 731 535,884 575, 794 605,041
73, 366 89, 793 114, 330 135,478 142, 599
.196
513,157
150,410
.200
545,801
147, 514
.214
566, 213
126,884
58,899
5,481
54,915
54,458
3,638
62,238
61,853
3,211
60,244
60,364
3,306
62, 276
63.094
4,093
66,453
67, 206
4,783
55,572
57,244
6,432
64,239
65,816
7,936
68,451
68, 781
8,228
61, 813
61, 701
8,122
73,311
73,422
8,180
647,951
51,439
20,101
628,222
80,005
53,819
653,854
70,508
44,634
637,395
97,285
46,976
716,262
664,354
838,113
816, 538
632, 393
648,483
.305
.256
.275
.285
.296
.272
.265
.271
.299
.303
.315
.321 i
.127
.101
.112
.104
.114
.103
.118
.111
.128
.104
.121
.104
.120
.106
.127
.112
.130
.121
.136
.125
.138
.126 I
.144 !
594,970 549,836
108,395 98,086
959,146 773,182
618,866 485,108
340,280 288,074
534, 503
92,231
589,322
371,362
217,960
725,158 800,819 1,042,675 1,053,759 696,100
127,469 141,579 190,337 203, 206 128,465
490,694 526,735 655,049 823,129 823,169
313,268 350,270 468, 538 613,659 616,604
177,426 176,465 186,511 209,470 206,565
725,295
132,115
772,420
590,416
182,004
49,351
127,981
(0
861,804 623,078
151,017 115,719
627,037 1,086,399
524,490 703,893
102, 547 382, 506
32,493
79,266
28,188
85,573
28,723
81,206
33,368
85,363
35,220
96,701
1,374
893
110
C)
8
.213
530,200
' 99,075
69, 433
68, 331 i 61,158
5.711
669, ?03
.126
.143
741,802 j 782,338
126,877 135,081
699,083
677,844
5/2, 799 559,849
126,2s4
117,995
77,720
172,913
84,224
218,392
27, 302
206,120
18,624
179,083
20,509
139,677
23,123
96, 716
1,906
29,762
' 80, 242
1,588
1,508
1,337
876
833
701
587
892
915
1,149
1,689
7,948
27% 835
6,427
178,594
6,641
195,097
6,131
194,006
5,441
178,438
3,857
153,843
1,670
129,533
549
95,538
331
76,293
529
73, 766
1,798
107, 397
.0890
34,395
.0799
25,218
.0782
16,841
.0787
24,257
.0814
()
.0820
.0878
.0935
.0950
.0892
.0890
453
348
627
513
1,215
454
296
591
518
376
444
847
744
72
706
624
882
768
1,008
970
1,073
1,001
766
665
.134
1,079
.115
2,224
.122
2,064
.134
1,879
.134
1,780
.132
1,580
.131
1,393
.133
1,327
.134
1,471
.134
1,102
.134
850
1,942
1,654
1,422
1,149
789
477
213
2,084
3,295
3,172
405, 219 402,948
417,387
459,297
404, 252 331,299
318, 644
291,839
181, 387
271,426
319, 209
261,834
.035
.035
.037
.037
.037
.037
.037
352,584
350,074
218,993
199, 661
209,257
179,311
164,873
.059
.052
.060
.052
.064
.053
.066
.053
.066
.053
.055
.065
.055
2,970
234,000
.037
194,878
.035
.035
.037
.036
195,169
239,305
147, 705
78,326
654,105
166,355
211,202
127,864
63,673
653,041
136,027
210,190
143,198
16,769
506,133
126,173
167,040
110,468
13,072
3,175
.056
.049
2,482
.056
.050
7,232
.057
.052
10, 253
.058
.052
6,257
54, 551
49,144
5,365
9,752
5,412
27,707
19,477
7,926
10,679
4,946
19,025
16,036
446
7,766
1,116
13,220
10,640
1,962
6,915
.035
8
355,071
()
.059
.052
1,887
' 6,945
' 223,831
.0890
1,006
842
773
635
.134
852
.134
825
17,994 28,251 33,336 32,003 31,043
15, 399 14,629
27,007
27, 277
Candy, sales by manufacturers.—thous. of dol..
28,914
27,179
22, 830
Fish:
Landings, fresh fish, prin. ports.thous. of lb.
54,555
51,479
54,159
59,355
49,521
42,215
29,522
16,355
13,853
39,153
42,493
48 879
Stocks, cold storage, 15th of mo
..do .. 63,337 55,117 73,432 90,885 102,191 107,574 115,432 117,805 99,979 82,677 62,160 49,079 '55^036
l
' Revised.
No quotation.
§Data for exports and imports revised for 1939; see table 14, p. 17, and table 15,
h p. 18, respectively, of the April 1941 Survey.
« The publication of detailed foreign trade statistics has been discontinued for the duration of the war.
Data not available.
•New series. This series replaces the one for the price of coffee, Rio No. 7 shown previously. Earlier data are shown in table 13, p. 22 of the April 1942 issue.
tRevised series; revisions beginning January 1937 appear in table 8, p. 18, of the January 1941 Survey; see also note marked " 1 " which applies to both production and stocks.
^Includes fats rendered from hog carcasses reported beginning November 1940 as "lard" and "rendered pork fat." Figures are comparable with earlier data reported as
lard."
S-27
SURVEY OF CURRENT BUSINESS
August 1942
^Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1942
1941
June
September
June
July
1942
October
Novem- Decem- January
ber
ber
March
April
May
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS
—Continued
Gelatin, edible:
Monthly report for 7 companies:
Production
thous. of lb__
Shipments
_ . .
do
Stocks
do
Quarterly report for 11 companies:
Production
do
Stocks
. . do
1,860
2,151
3,528
TOBACCO
Leaf:
Exports, incl. scrap and stems§..thous. of lb_.
Imports, incl. scrap and stems§
dn
Production (crop estimate)
mil oflb__ 2 1 , 357
Stocks, dealers and manufacturers, total, end
of quarter
mil. of lb
Domestic:
Cigar leaf
do
Fire-cured and dark air-cured
do
Flue-cured and light air-cured
do
Miscellaneous domestic
do
Foreign grown:
Cigar leaf
do
Cigarette tobacco
do
Manufactured products:
Consumption (tax-paid withdrawals):
Small cigarettes
mi llions.
20, 004
Large cigars
. _ thou sands
532, 380
Mfd. tobacco and snuff
thous. of l b .
27, 807
Exports, cigarettes!
thou^rands
Prices, wholesale (list price, destination):
Cigarettes, composite price.-dol. per 1,000..
5,760
Cigars, composite price
_ _ - _ do
46. 592
Production, manufactured tobacco:
Total f
thous of lb
Fine cut chewing
do
Plug
. . do .
Scrap chewing
do
Smoking
__
_ _ _ . do
Snuff *. .
do
Twist
do
1,973
2,025
4,803
1,661
2,248
4,216
1,435
2,006
3,644
7,492
6,563
14,916
6,630
1,774
2,051
3,367
2,155
2,303
3,220
2,271
2,060
3,431
20,975
5,725
23,380
7,451
2,245
2,094
3,542
2,102
2,126
3,518
8,314
5,026
6,329
4,720
26,793
6,042
2,081
2,121
3,392
2,269
2,147
3,640
2,164
2,162
3, 642
2,116
1,940
3,819
8,549
5,139
C)
(°)
> 1,280 ""
"
3,349
3,372
3,492
3, 506
404
283
2,527
4
371
258
2,618
4
340
251
2,784
4
434
303
2 663
4
22
109
21
99
21
91
21
81
18, 523
478,802
27,660
549,338
18.404
487,033
28,835
521,326
17,777
491,028
27,462
843,686
18, 761
506,071
29, 756
433,690
19,632
621,990
32,179
(°)
17,141
542,906
27,376
16, 201
474,913
24, 265
19,503
458,277
27,938
16,628
441,805
24.426
17,016
489, 727
27, 919
17, 380
503. 536
27, 825
18, 455
457 767
25, 181
5.760
46.056
5.760
46. 056
5.760
46.056
5.760
46.056
5.760
46. 056
5.760
46. 056
5.760
46. 056
5.760
46.056
5.760
46.190
5.760
46. 592
5.760
46. 592
5. 760
46. 592
28, 469
441
4,229
3,910
16,288
3,123
478
29,079
458
4,560
3,884
16, 348
3,347
483
27, 594
505
4,264
4,064
15.200
3,059
501
30,499
467
4,476
3,962
17, 758
3,333
32, 712
467
4,710
4,016
19, 341
3,665
514
27, 570
396
3,810
3,279
16,631
3,023
430
25, 521
415
3,769
3,410
14,070
3,392
465
27,365
415
4,045
3,673
14,990
3,763
479
25,072
358
3,697
3,411
13,854
3,265
486
28, 656
411
4,445
4,117
15,240
3,916
528
27, 745
398
4,347
3,913
14, 782
3 827
478
25,950
420
4,297
3,768
13,705
3 302
459
503
FUELS AND BYPRODUCTS
COAL
Anthracite:
304
335
Exports
thous. of long tons..
223
404
Prices, composite, chestnut:
12.48
12.48
12.42
12.43
12.41
12.46
12.17
11.88
12.48
Retail
dol. per short ton..
11.57
12.29
12.48
12.49
10. 288 10. 280 10.114
10.288 10.288
10.209
10. 301 10.301
10.073
Wholesale
_
do
9.807
9.939
10. 342
10.311
4,772
4,532
3,832
4,118
5,380
5,246
5,085
5,143
4,891
Production
thous. of short tons..
4,681
5,153
5,133
4,843
Stocks, end of month:
1,237
755
1,393
414
915
656
708
1,177
268
205
In producers' storage yards
do
466
292
140
In selected retail dealers' yards
58
34
42
108
48
59
96
32
54
29
number of days' supply..
27
Bituminous:
2,325
2,353
Exports
thous. of long tons..
2,071
1,973
Industrial consumption, total
35,091
36,443 34,526 • 34, 501
30,881
31, 510 32,400 31,928 34,978 34,555 37,192 38,476
thous. of short tons_. 33,139
1,029
1,059
1,021
1,099
1,016
835
957
901
968
1,024
886
Beehive coke ovens.
._
do
959
908
7,352
7,173
7,229
7,404
6,814
7,050
6,848
6,685
7,451
7,372
6,855
Byproduct coke ovens.do
7,108
7,107
571
588
630
640
564
628
497
647
676
615
543
Cement mills.
do
658
660
r
126
144
139
149
143
142
148
144
143
127
153
Coal-gas retorts
do
132
128
5,892
5,154
5,532
5,552
4,717 r 5, 103
5,200
5,913
5,913
5,135
5,011
Electric power utilities
do
5,643
5,215
9,226
8,921
8,742
8,747
8,879
9, 189 r 9, 398
8,053
9,685
7,576
9,723
Railways (class I ) . . .
do
8,038
7,799
984
771
912
802
886
937
1,046
863
819
827
Steel and rolling mills
do
957
• 842
11,980
10,910
9,180
11,840 11,660
9,050 10, 600
12,700
10, 840
8,860
9,840
Other industrial
..do
9,020
Other consumption:
164
137
113
129
Vessels (bunker)
thous. of long tons..
()
335
362
329
313
334
313
306
311
256
Coal mine fuel
thous. of short tons..
251
260
Prices:
9.24
9.34
9.51
9.42
9.47
9.52
9.43
9.46
9.49
9.06
9.50
Retail (35 cities)
.dol. per short ton..
9.51
Wholesale:
4.704
4.703
4.713
4.732
4.658
4.677
4.737
4.774
4.570
4.618
4. 753
4.773
Mine run, composite
.do
4.775
4.925
4.922
4.926
4.924
4.823
4.883
4.663
4.724
Prepared sizes, composite
do
4.897
4.819
4.939
4.858
4.930 46,
667 48, 540 43, 840 47,400 49, 000 48, 250
43, 319
43,300 45, 650 46,880 49,800
Production t
thous. of short tons.. 48, 410
43, 770
Stocks, industrial and retail dealers, end of
61, 763 62, 737 58,681 56,885 57, 221 61,836 «• 67, 418
47,051
52, 801 56,994 61,401
42,929
month, total
thous. of short tons.. 73,268
48, 044 51, 501 52, 013 53, 397 50,951
50,635 51, 761 55, 746 •• 60, 618
40, 451 45,011
37, 249
Industrial, total
.do
8,901
8,326
7,292
8,179
7,888
8,371
6,215
7,205
5,913
7,881
Byproduct coke ovens,
do
9,866
8,409
«• 9,179
705
714
709
647
652
720
634
660
559
743
Cement mills.do
975
813
876
367
372
331
343
333
364
296
225
285
293
331
Coal-gas retorts
do
369
301
12,821
12,660
12,427
13,455 13,891
10,912 11, 637 11,919
9,988
10,431
Electric power utilities
do
15, 854
16, 876
14, 767
9,788
9,726 10,235
8,758
9,548
9,662
8,111
6,604
7,003
Railways (class I)..
do
9,910
12,217
10,816 r 11, 479
968
964
908
827
909
995
757
720
723
1,013
Steel and rolling mills
do
1,145
1,099
1,050
18,490
18,370 17,650 18,030
19, 670 19, 540 19,400
17,070
13, 240
15,160
Other industrial
do
21, 800
24, 240
19, 590
9,340
8,950
7,730
6,250
9,750
7,790
9,900
5,680
6,600
Retail dealers, total
do
5,460
6,800
7,580
6,090
COKE
64
61
54
Exports
thous. of long tons..
61
C)
Price, beehive, Connellsville (furnace)
6.000
6.000
6.125
6.125
6.000
6.125
6.125
6.000
6.125
6.125
6.125
dol. per short ton..
6.000
6.125
Production:
532
703
650
613
695
610
655
611
574
••595
647
Beehive
thous. of short tons.
652
578
r
5,276
5,118
4,716
4,833
5,186
4,971
5,059
5,224
Byproduct
.
do
5,200
4, 842
4,806
5,013
5,014
80
121
154
149
151
91
140
Petroleum coke
do....
108
144
158
137
134
r
Revised
i Dec. 1 estimate.
« The publication of detailed foreign trade
statistics has been discontinued for the duration of the war.
2
JData for 1938 revised. See p. 45 of the August 1940 Survey.
July 1 estimate.
§Data for 1939 revised; for exports, see table 14, p. 17, and for imports, table 15, p. 18 of the April 1941 issue.
tSee note marked "*" on this page.
*New series. Data are not available on a monthly basis prior to 1941. The total production of manufactured tobacco has been revised to include the data for snuff.
S-28
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
SURVEY OF CURRENT BUSINESS
1942
June
August 1942
1941
June
July
SepAugust tember
'
October
Novem- December
ber
1942
January
February
March
1,386
869
513
259
1,430
920
509
252
April
May
FUELS AND BYPRODUCTS—Continued
COKE—Continued
Stocks, end of month:
Byproduct plants, total.thous. of short tons..
At furnace plants.
do
At merchant plants
_
do
Petroleum coke_do
PETROLEUM AND PRODUCTS
Crude petroleum:
Consumption (runs to stills)...thous. of bbl_.
Imports!
do
Price (Kansas-Okla.) at wells...dol. per bbl..
ProductionJ
_
thous. of bbl__
Refinery operations..
pet. of capacity..
Stocks, end of month:
California:
Heavy crude and fuel
thous. of bbl..
Light crude
do
East of California, total!
do
Refineries!
do
Tank farms and pipe lines!__
-do
Wells completed!__
_
number..
Refined petroleum products:
Gas and fuel oils:
Consumption:
Electric power plants
thous. of bbl..
Railways (class I)
do
Vessels (bunker)
_.
do
Price, fuel oil (Pennsylvania)*.dol. per gal_.
Production:
Residual fuel oil*.
.thous. of bbl
Gas oil and distillate fuels, total do
Stocks, end of month:
Residual fuel oil, east of Calif
do
Gas, oil and distillate fuels, total...do
Motor fuel:
Demand, domestic!
thous. of bbl..
Exportst
do.
Prices, gasoline:
Wholesale, refinery (Okla.)dol per gal._
Wholesale, tank wagon (N. Y.)t---do
Retail, service stations, 50 cities*...do
Production, totalt
thous. of bbl
Benzol}:
do..
Straight run gasoline!
do__
Cracked gasoline!
.do..
Natural gasoline!
do..
Natural gasoline blended!
...do
Retail distribution^
mil. of gal...
Stocks, gasoline, end of month:
Finished gasoline, totals.--thous. of bbl.At refineries
do
Natural gasoline...
_
do
Kerosene*
Consumption, domestic
...do
Exports§
do
Price, wholesale, water white, 47°, refinery
(Pennsylvania)
dol. per gal_.
Production
thous. of bbl.
Stocks, refinery, end of month
.do
Lubricants:
Consumption, domestic!
-do
Price, wholesale, cylinder, refinery (Pennsylvania)
dol. per gaLProdnction
thous. of bbl.
Stocks, refinery, end of month
do
Asphalt:
Importsp
.short tons..
Production
do
Stocks, refinery, end of month.
..do
Wax:
Production
thous. of lb_.
Stocks, refinery, end of month
do
1,405
969
435
1.110
931
7 059
.056
.166
.154
.064
.360
1,448
963
485
201
1,432
975
457
191
119, 032 105,776
110, 565 104,882
106, 883
1.110
1.110
128, 262 113,961
81
82
1.110
114,473
76
1.110
105,053
75
1.110
110,192
74
61,845 61,174
37, 767 39,184
207,859 213,395
45, 085 43,387
162, 774 170,008
1,373
953
60,197
38, 531
214,741
41,622
173,119
778
58,149
75, 903
38, 737 37,249
210, 699 208, 548
40, 491 39,882
170, 208 168, 666
825
847
1,428
849
578
382
1,450
874
577
367
1,612
950
662
372
1,580
881
699
370
1,616
871
745
362
1,668
817
851
390
1,708
832
876
228
115,935
4,488
1.110
115,027
88
121,180
4,657
1.110
118,251
124,572
4,319
1.110
121,354
90
121,481
4,790
1.110
119,446
126,772
(°)
1.110
126,145
89
121,539
124,985
1.110
123,355
1.110
128,293
88
65,735
34,961
216,454
43, 526
172,628
1,620
66,454
35,651
212,132
44,472
167,660
1,934
64,729 63,847 62,941
34, 560 34,875 34,852
207,225 203,481 201,048
43,483
41,975 42,446
163,742 161, 506 158,602
1,931
1,836
1,821
62,745
35,082
200,602
42,546
158,056
1,723
63,378
35,596
203,423
43,154
760,269
1,458
1,329
5,147
2,488
.053
1,623
5,339
2,633
.057
1,802
5,460
2,661
.058
1,674
5,435
2,331
.059
1,857
6,049
(a)
.058
1,740
5,723
1.960
6,328
.054
.051
.050
.052
.055
.057
.058
27,882
14,697
28,624
15,746
29,836
15,409
28,118
16,024
30, 871
16, 554
29, 666
16, 230
31,127
17,142
29, 405
16, 902
27,254
15,194
28, 095
16,214
29, 440
14,002
30, 971
13,436
20,914
30,620
21,909
34,337
23, 562
36,845
25,224
39, 726
26,198
42,028
25,118
42, 261
24, 855
49,330
14, 567
40, 801
14,055
33,711
11,040
30.205
8,664
28, 792
8,965
30, 281
58, 360
1,184
63,093
1.212
62,944
1,355
58, 995
2,211
()
.058
.149
.138
56, 987
274
23,140
28,478
5,095
3,648
2,327
.060
.149
.139
69,609
271
23,962
30,124
5,252
3,769
2,544
.060
.149
.140
60, 740
277
24,790
30,034
5,639
4,237
2,589
.060
.149
.140
60,167
266
24,039
30,198
5,664
4.854
2,383
.060
.149
.140
62,288
296
24, 712
31, 328
5,952
5,123
2,342
.060
.149
.141
61,243
287
24, 244
30, 718
5,994
4,717
2,168
.060
.149
.139
63, 573
323
24,913
32,255
6,082
4,622
2,247
.060
.150
.141
60, 035
208
22, 725
30, 324
7,488
5,351
1,983
.060
.152
.141
51,612
189
19,226
26,006
6,768
4,456
1,768
.055
.153
.143
52, 902
200
20,609
25, 629
7,020
4,414
' 1,980
.054
.157
.144
47, 528
0
18,339
23, 504
6,257
4,046
r
2,016
.055
.161
.144
48,938
0
19,573
23,130
6,718
4 272
l', 970
82,411
52, 856
6,235
77,429
49, 092
6,317
73,094
45, 463
6,111
72, 761
46,151
5,373
74, 698
46, 417
4,870
79, 378
49, 351
4,557
86,413
56, 325
4,275
93, 489 100,186
64, 996 72, 990
5,209
4,802
99,184
73, 556
5,620
94,127
67,182
6,043
87, 461
62, 597
6,568
3,918
101
4,270
95
4,449
52
5,624
295
.057
5,218
.059
5,406
10, 635
.062
5,850
11.636
.063
5,949
11.662
.063
6,355
11,670
.064
6,443
10,843
.064
6,682
9,599
.064
6,634
6, 987
.063
6,133
6,193
.063
6. 035
5,460
.063
5,529
5,630
.064
5,302
6,419
3,171
3,074
2,562
2,638
.123
3,520
7,353
.140
3,563
7,107
.143
3, 561
7,206
.154
3,427
7,415
.160
3, 494
7,487
.160
3,607
7, 752
.160
3,554
8,127
.160
3,497
8,266
.160
3,174
8,429
.160
3, 533
8,470
.160
3,438
8,470
.160
3,439
4,366
634, 500
841,000
54, 600
110, 481
1,510
817
692
246
1,867
6,495
1,532
5,949
1,304
6,595
1,012
6,399
••946
6,624
C)
0
0
0
C)
687,100 740, 700 680, 200 694,400 580, 700 466, 500 382, 000 382, 700 428, 200 452. 900 500, 000
605,000
474,
000
713,000
451,000 512,000 604,000 695,000 765,400 740,700 719,400 617, 300
55,440 54,320
66,360 67,760
60,200
55,160 52,920 61, 600 52. 080 51.080
74, 814 72, 800 75, 600 75,040
101, 434 85, 824 79,458 75, 467 76,413
69, 720 69,160'
LEATHER AND PRODUCTS
HIDES AND SKINS
Imports total hides and skins§
thous. of lb_.
Calf and kip skins©
thous. of pieces..
Cattle hides©
.do....
Goat and kid skins©
do
Sheep and lamb skins©
do
Livestock (federally inspected slaughter):
Calves
thous. of animals.Cattle
-do_...
Hogs
do
Sheep and lambs
do
53, 572
229
823
5,325
3,232
50, 686
173
731
3,723
4,099
61,899
242
888
3,265
5,335
48,944
215
721
3,717
2,371
440
867
3,336
1,378
445
968
3,006
1,569
414
968
2,796
1,522
447
1,004
2,920
1,567
536
1,119
4,157
1,682
476
941
4,561
1,424
457
1,004
5,767
1,571
440
1,057
5,831
1,611
392
891
3,892
1,407
491
929
4,134
1,669
502
956
4,196
1,570
471
885
4.320
1.475
' Revised. ^Excludes for East Coast district, stocks of "shuttle oil" and stocks transferred to the U. K. poolbboard.
§See note marked "§" on p. S-29.
« The publication of detailed foreign trade statistics has been discontinued for the duration of the war.
Publication of data suspended.
•New series. Data on wholesale price of fuel oil beginning January 1918 appear in table 46, p. 14, of the November 1940 Survey. Data beginning 1920 for the new series
on retail service-station price of gasoline, which replaces a similar series shown in the Survey through February 1941, appear in table 10, p. 16, of the March 1941 Survey.'
fExports of motor fuel revised; for data for 1913 to 1939, see table 54, p. 16, of the December 1940 Survey; for data for all months of 1940, see note marked "f" on p. S-28
of the August 1941 Survey. Data beginning January 1941 include mineral spirits; the comparability of the series is affected to a negligible extent by the inclusion of this item.
For revised series on wholesale tank wagon (N. Y.) price of gasoline, see table 6, p. 18, of the January 1941 Survey.
!Revised data for 1939 appear in table 1, p. 17, of the January 1941 Survey. Beginning January 1942figuresfor the production of natural gasoline include total sales of
lquefied petroleum gas as follows (thousands of barrels): Jan., 710; Feb., 577; Mar., 556; Apr., 572; May, 4S3. The amount of such sales ha? not been included in the total
production of motor fuel. Prior to 1942, an indeterminable amount of liquefied petroleum gas sales has been included in total motor fuel and natural gasoline i roduction;
•Data revised beginning 1940. See note on p. S-28 of the June 1942 Survey.
©Data are here reported in pieces instead of pounds as shown in the Survey prior to the April 1942 issue; earlier data in pieces will be shown in a later issue.
August 1942
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
S-29
SURVEY OF CURRENT BUSINESS
1942
1941
June
June
July
A st
^
tember
1943
October
Novem- December
ber
January
February
March
April
Max
LEATHER AND PRODUCTS—Continued
HIDES AND SKINS-Continued
Prices, wholesale (Chicago):
Hides, packers', heavy, native steers
dol. perlb__
Calfskins, packers', 8 to 151b
do
0.155
.218
0.153
.234
0.150
.218
0.150
.218
0.153
.218
0.155
.218
0.155
.218
0.155
.218
0.155
.218
0.155
.218
0.155
.218
0.155
.218
0. 155
.218
LEATHER
Exports:
24
77
11
Sole leather§
thous. of lb_.
1,368
Upper leather §
thous. of sq.ft..
2,268
4,363
4,889
3,346
Production:
922
1,048
974
1,006
1,024
1,098
1,209
1,014
'989
1,181
1,084
Calf and kip
thous. of skins.
1,170
1,040
2,572
2,666
2,502
2,684 \2, 577
2,519
2,253
2,675
2,445
2,391
Cat tie hides
thous. of hides.
2,392
2,405
2,629
4,441
4,005
4,320
3,344
3,986
4,568
3,837
4,226
3,631
3,374
Goat and kid
thous. of skins.
4,275
4,414
4,113
4,303
4,555
4,552
4,444
4,438
4,7«6
4,408
4, 90S
4,789
Sheep and lamb %
_
do
4,163
4,633
4,462
4,508
Prices, wholesale:
.449
. 449
.425
.444
.448
.448
Sole, oak, bends (Boston)*
dol. per lb_.
.440
.447
.448
.428
.431
.453
.441
Chrome, calf, B grade, black composite
.529
.529
.529
.531
.529
.522
.531
dol. persq. ft.
.518
.525
.508
.510
.531
.516
Stocks of cattle hides and leather, end of month:
14,020 14,021
12,613 13,291
14,223
14,052 13,413
12, 747 <12,38913,174 13,226
Total
thous. of equiv. bides.
13,186
13,698
9,371
8,569
8,691
8,923
8,879 ' 8,898
In process and
finished
_
.do
8,580
8,223
8,307
8,414
8,323
8,900
S,958
3,242
5,330
5,129
3,868 ' 3, 491
Raw
_
-..
do
4,963
5,391
5,451
4,903
4,711
4,760
4,513
5,265
LEATHER MANUFACTURES
Gloves and mfttens:
Production (cut), total
dozen pairs. 256,913 249,533 258,325 291, 995 246, 329 283,285 242,441 193,808 185, 111 225,746 • 252,658 264, 543 279, 927
Dress and semidress
do
155,822 147,718 155,695 179, 205 161,285 172, 898 144,197 106,273 108,080 139,856 159,296 161,845 175, 278
Wdrk
d o . . . . 101,091 101,815 102,630 112,790 85,044 110,387 98, 244 87,535
77,031
93,362 102, 698 104. 649
Boots, shoes, and slippers:
Exports§
._
...thous. of pairs.
309
158
148
Prices, wholesale, factory:
6.75
6.75
6.25
6.15
6.25
6.40
Men's black calf blucher
dol. per pair.
6.36
6.40
6.40
6.23
6.40
6.40
4. til
4.60
4.35
4.35
4.39
4.65
4.35
Men's black calf oxford, corded t i p . - . d o . . .
4.35
4.40
4.55
4.35
4.60
4.60
3.55
3.30
3.55
3. 00
Women's colored, elk blucher
..do...
3.60
3.55
3.55
3.60
3.45
3.55
3.60
3.60
Production, boots, shoes, and slippers:
Total
thous. of pairs.
39,153 40,463 45, 237 45,465
38,451
45, 590 '40, 771
39,828 40,006 45,106
43, 815 45,704 34,795
' 504
477
442
620
Athletic
do...
471
478
377
358
509
516
512
555
572
'478
391
535
All fabric (satin, canvas, etc.)
.do
300
223
337
454
436
258
225
273
271
643
'883
545
1,056
Part fabric and part leather.
.do
854
852
1,052
1,356
1,352
684
816
1,017
1,004
1,247
•
34,046
38, 362
High and low cut, leather, total
do
32, S66 33, 231 38, 219 37,885 35, 558 36, 906 27, 644 32, 654 34,899 34,110 38,220
Government shoes*
do
1, 215
2,336
3,858 ' 3,614
1,215
3,499
1,324
1,170
1,737
2,223
1,360
1,474
2,954
Civilian shoes:
1,452
1,526 ' 1 . 4 1 2
1,683
1,?93
Boys' and youths'
do
1,812
1,399
1,410
1,825
1,696
1,910
1, 535
1,513
2,124
2,549
2,372 ' 2,187
2,146
Infants'
do
2,403
2,163
2,029
2,c58
2,487
2,585
2,296
2,340
3,603
3,872
3,805
Misses' and children's
do
4,025
3,491
3,659
3,751 ' 3. 344
4,251
4,052
4,378
3,888
3,760
8,170
9,734
9,871
Men's
do
10,473
9,600
9,368
10,291
10,355
11,931
10,410
9,640
9,730 ' 8, hbl
14,119
14,177
15,461
"Women's
do
15, 522 14,627
9,821
15,308 18,013
18,079
17,935
12,789
17,127 14,932
Slippers and moccasins for hGUsewear
3, 769
2,674
4,474
' 3, 577
thous. of pairs.
5,164
3,509
3,607
1,956
6,019
4,892
5,588
6,516
3,297
1,004
All other footwear
do...
1,036
1,134
459
827
435
436
434
1,127
1,410
675
453
'l,28o
LUMBER AND MANUFACTURES
L U M B E R - A L L TYPES
Exports, total sawmill products.._.._M bd. ft.
Sawed timber §
_do_..
Boards, planks, scantlings, etc.§
..do
Imparts, total sawmill products
do...
National Lumber Mfrs. Assn.:f
Production, total
.mil. bd. ft.
Hardwoods
do...
Softwoods
do_-Sbipments, total
do...
Hardwoods
.do
Softwoods
do___
Stocks, gross, end of month, total
do
Hardwoods
_
_do._.
Softwoods
do...
FLOORING
Maple, beech, and birch:
Orders, new.
._
M bd. ft.
Orders, unfilled, end of month
do
Production. _
do...
Shipments..
..do
Stocks, end of month.
...do...
Oak:
Orders, new.
_.do...
Orders, unfilled, end of month
do...
Production.
do...
Shipments
do...
Stocks, end of month
.do...
Douglas fir: SOFTWOODS
Exports, total sawmill products§...M bd ft..
Sawed timber§
do...
Boards, planks, scantlings, etc.§. d o . . .
Prices, wholesale:
Dimension, No. 1, common*
dol. per M bd. ft.
Flooring, B and better, F. G., 1 x 4, R. L.*
dol. per M bd. ft.
51,977
7,404
37,422
115,745
84,272
7, 557
67,635
135,018
61,793
11,371
46,586
178,887
51,163
7,250
34,090
152,190
2,861
375
2,486
3,053
430
2,623
4,843
1,268
3,575
2,786
385
2,401
2,875
420
2,455
6,650
1,488
5,162
2,946
383
2,563
3,115
428
2,687
6,489
1,444
5,045
3,113
387
2,726
3,236
416
2,820
6,357
1,414
4,943
2,926
387
2,539
2,986
423
2,563
6,294
1,377
4,917
2,958
403
2,555
3,016
436
2,580
6,231
1,343
4,888
2,505
372
2,133
2,438
374
2,064
6,317
1,340
4,977
2,503
382
2,121
2,491
371
2,120
6,348
1,355
4,993
2,316
376
1,940
2,515
381
2,134
6,110
1,349
4,761
2,246
372
1,874
2,487
369
2,118
5,903
1,353
4,550
2,404
361
2,043
2,735
368
2,367
5,595
1,346
4,249
2,645
386
2,259
3,087
383
2,704
5,235
1,349
3,886
2. 540
5, 004
1, S13
3, 691
7,875
8,950
7,625
7,675
12,100
10,350
11,450
8,750
10,125
16,675
12,800
13,925
8,200
10,325
14,800
9,050
13,175
8,950
9,800
13,425
7,000
11, 500
7,600
8,800
12,200
7,650
10,900
8,900
8,300
12,850
5,050
8,900
7,500
7,150
13,100
7,225
9,050
8.075
7,350
13,625
7,775
9,975
7,175
7,075
14,075
7,150
9,600
7,550
7,100
14,250
8,575
10,550
7,275
7,500
14,000
7,300
10,125
7,500
7,700
13,850
7,200
8,750
7,150
8,850
12,000
17,911
30, 479
30, 562
24, 920
72, 341
53, 489
79, 516
48,686
52,146
61, 580
60, 524
81,988
61,865
57,150
51,038
44,781
74,305
49,925
53,464
44,962
36,363
60,460
47,432
48,939
41,955
40,080
52,446
49,227
48,094
43,088
28,102
42, 549
40,910
38,014
48, 278
34,286
42,035
42, 697
35,100
55,875
40, 749
46, 235
41, 647
38,549
60,673
39,369
48,097
36,719
37, 788
58,601
34,972
45,481
38,691
37,588
59,704
32, 560
42, 673
40, 656
37,027
63,333
19,901
5,940
13, 961
18, 743
6,615
12,128
28, 069
7,915
20,154
19,970
5.580
14,390
32. 340
24.990
25.970
25.970
27.146
44.100
35. 280
36.260
36.260
2. 680
379
2. 301
2. 955
«> t : n
27, 732
37,488
36,283
32, 917
66, 699
28. 665
28.910
29.498
32.095
32. 340
32.340
32. 340
32. 340
41.160
41.160
42.336
44.100
44.100
44.100
44.100
44.100
'Revised.
§Data for 1939 revised; for exports see table 14, p. 17, and for imports, table 15, p. 18 of the April 1941 Survey.
JData beginning 1940 include fleshers and exclude skivers.
• The publication of detailed foreign trade statistics has been discontinued for the duration of the war.
fRevised data for 1939 appear in table 17, p. 17 of the May 1941 Survey; revisions for 1940 will be published in a later issue.
*New series. The price series on sole, oak, bends at Boston replaces the series shown in the Survey through the March 1942 issue for sole, oak, scoured backs at Boston.
Earlier data will be shown in a subsequent issue. Separate data for leather shoes made under Government contracts are available beginning 1941. These shoes include, for
the most part, men's dress and semidress and work leather shoes. However, a small number of pairs other than men's leather (nurses, athletic, etc.) made for Government
contract are included. The total has been included with men's leather shoes in issues prior to the April 1942 Survey. Data beginning 1922 for the new series on lumber prices
in table 16, p. 17, of the May 1941 Survey.
Digitized for appear
FRASER
S-30
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1941
1942
June
August 1942
j
Jnlv
July
June
Aumist
| August
Sep
1942
Octo
"
t e m b e r
*
b e r
Novein-1 Deeemb e r
b e r
.lanua r y
February
March
April
May
LUMBER AND MANUFACTURES—Continued
SOFTWOODS—Continued
Southern pine:
12, 679 45,111
16, 941 10, 486
Exports, total sawmill products
M bd. ft..
1,159
3.104
586
1,471
Sawed timber
_
do
11,520 44, 525 13,837
9,015
Boards, planks, scantlings, etc
do—
)
832
1,076
1,216
893
885
771
974
1,050
868
Orders, newt--mil. bd. ft..
861
824
952
762
871
715
603
796
858
940
Orders, unfilled, end of month
do
621
943
633
Prices, wholesale:
Boards, No. 2 common, 1 x 8 *
34. 550 33.050
31.013
30.813
30. 804 30. 620 30. 653 30. 770 30.000 30.000
dol. per M bd. ft.. 30. 000 30. 283 31.946
54.978
52. 782 52.050
52. 393 53.596
54 330 54. 708 53. 798 51.000 47.0UO
Flooring, B and better, F. G., 1 x 4 * . do.... 47. 000 49. 580 51.630
850
949
791
931
898
896
824
825
797
809
738
787
782
Production^
mil. bd. ft..
898
848
1,088
1,083
932
943
801
875
992
782
892
806
851
Shipmentst
-do
881
1.747
1,456
1,422
1,590
1,375
1,375
1,398
1,425
1,
202
1,007
1,307
Stocks, end of month
do
Western pine:
637
523
543
542
387
491
345
607
516
477
667
'554
Orders, newt
do—
421
401
519
609
345
472
665
630
Orders, unfilled, end of montht-do
554
479
464
642
Price, wholesale, Ponderosa, boards, No. 3
27.55
29.37
31.52
31.51
28.03
29.97
30.42
30.73
30.71
30. 73
31.04
31. 46
31.35
common, 1x8*
_.dol. per M bd.ft..
614
684
676
673
661
636
436
357
263
359
278
469
487
Productiont—
-.
mil. bd. f t 611
613
543
593
619
620
443
418
400
415
529
469
533
Shipmentst ...do
1,665
1,593
1,733
1,775
1,293
1,444
Stocks, end of month
do
1,788
1.779
1,566
1,721
1,275
1,334
1,229
West coast woods:
776
705
918
771
679
671
590
946
765
710
759
1,030
958
Orders, newt
do
883
772
1,067
814
699
607
587
926
827
894
891
1,029
1,097
Orders, unfilled, end of month.
do
700
822
703
742
787
678
761
637
747
658
682
747
'780
Production f
do
722
834
761
741
760
617
623
719
692
742
877
864
863
Shipmentst
do
831
819
821
854
929
991
971
968
929
875
835
756
Stocks, end of month
do
Redwood, California:
30,391
27, 665 31, 540 26. 781 29. 688 41.252 40, 942 55, 566 39, 407 39, 445
Orders, new
M bd. ft— 44, 631 42. 918 43,026
65, 359 64, 684 65.422
55, 204 44, 532 37,142 34, 860 41,696
49, 873 61,104
75, 009 66, 073 64,152
Orders, unfilled, end of month
do
41, 666 39, 940 42,646
47, 272 43, 703 45, 658 38, 671 30. 698 35, 642 33,128
37, 960 37, 397
Production
do
43, 307 37,700
40.810
42, 221 39,068
38, 318 29,910 22. 877 32, 292 30, 208 43, 560 46, 562 41, 205
Shipments
-do
213,124
246.
446
246,
431
244,169
242,
763
248,
440
253,061
249,176
243,
225
249,377 240, 342 228, 068 220, 602
Stocks, end of month
do—
FURNITURE
A11 districts:
88.0
percent of normal--.
Plant operations
78.0
82.0
82.0
87.0
90.0
87.5
82.0
79.0
83.0
79.0
79.0
Grand Rapids district:
Orders:
3.0
8.0
4.0
3.0
3.0
8.0
4.0
5.0
15.0
7.0
5.0
Canceled
percent of new orders,.
8.0
10.0
27
21
35
33
26
33
15
22
20
29
New
no. of days' production..
18
23
30
72
76
50
70
75
59
58
62
59
58
Unfilled, end of month
do
50
53
75
82.0
77.0
75.0
78.0
84.0
88.0
86.0
81.0
82.0
79.0
75.0
78.0
Plant operations
percent of normal..
88.0
25
32
27
20
20
24
22
21
25
Shipments
no. of days' production..
32
Prices, wholesale:
93.5
95.0
96.1
96.3
101.0
93.0
98.0
101.2
101.2
101.0
101.0
101.0
101.0
Beds, wooden..1926=100108.2
105.5
108.2
111.6
118.9
103.9
113.6
115.0
118.9
118.9
118.9
118.9
118.9
Dining-room chairs, set of 6.
...do—
97.4
97.4
99 3
102.0
102.6
102. 6
94.4
102.0
102.0
102.6
102.6
102.6
102.6
Kitchen cabinets
_..do..>
93 3
104.2
93.3
104.2
104.2
93.3
104.2
154.2
104.2
104.2
104.2
Living-room davenports
do _ _ _ 104.2
Steel furniture (see Iron and Steel Section).
I
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Exports (domestic), total
long tons..
Scrap
do
Imports, total
do
Scrap
do
Price, wholesale, iron and steel, composite
dol. per long ton..
Serap:*
Consumption, total
thous. of short tons.
Home scrap
do
Purchased scrap
do
Stock, consumers', total.
do
Home scrap..
do
Purchased scrap
do
Ore
Iron ore:
Lake Superior district:
Consumption by furnaces
thous. of long tons..
Shipments from upper lake ports
do
Stocks, end of month, total
do
At furnaces
do
On Lake Erie docks
do
Imports, total
..do
Manganese ore, imports (manganese content)!
thous. of long tons..
457, 685 537,921 697, 732 706, 580
59,018 59, 905 80,255
65,486
18,380
10,190 11,049
8,489
16,405
6,473
9,418
4, 259
7, 043
12, 625
30, 981
27, 714
3, 267
38.15
38.15
38.15
38.15
38.15
38.15
38.15
i 15,613
18,611
17, 002
5,051
1,550
3,501
5,026
2.744
2,282
4,911
1,473
3,438
5,140
2,792
2,348
4,814
1,504
3,310
5. 072
2,783
2,289
4,515
1,469
3,046
5, 582
3,145
2,437
4,089
1,322
2.767
5,010
2,824
2,186
3,829
1,232
2,597
5,078
2,873
2,205
3,802
1,167
2,635
4,956
2,822
2,134
3,503
1,145
2,358
4,708
2,643
2,065
3,455
1,170
2,285
6,231
10,790
26,629
23,919
2,710
225
6,497
11,390
31, 597
28, 257
3,340
196
6, 534
11,496
36,469
32,457
4,012
223
6,448
10,312
40,770
36,106
4,664
206
6,612
9,596
43,946
38,852
5,094
()
6, 501
7,661
45, 535
40, 245
5,290
7,062
835
40, 457
35,563
4,894
7,158
0
33,919
29. 627
4,292
6,403
0
27, 526
23, 835
3,691
50
33
65
62
5, 221
2, 9 56
2, 265
3,460
1,114
2,346
7.109
793
20,190
17, 561
2,629
5,156
2,919
2,237
3,682
1,105
2,577
5, 225
2,932
2,293
3,972
1,077
2, 895
7,007
7. 857
20,065
17, 536
2,529
7,240
12, 677
25,199
22, 310
Pig Iron and Iron Manufactures
Castings, malleable:
75,075 77,312 68,945 64,283
70, 528 60,745
56,587 105, 556 66, 292 62, 979 60, 398 I 54, 219
Orders, new
short tons..
71, 209 67,010 68,570
69,175
84, 296 66, 738 71,311
68, 741 65,140 69. 737 71,256 ! 60,896
Production
do
70,179
68,310
64,250
67, 532 82,004
70, 744 65, 217 62, 724 65. 866 68,459 | 61,783
68,983
Shipments
do
Pig iron:
1
5,049
13,692
4,822
4,665
4,554
4,670
5, 020
4,766
4,997
5, 100
Consumption
thous. of short tons.
4,944 I 5.030
Furnaces in blast, end of month:
(2) i
153,600 153,190 155,020 157,165 156,265 j 156,855 162,140 159. 270 162, 285 164, 675
Capacity
short tons per day211
211 i
213 !
216
214 |
215
217
216
220
Number
220
!
0
b
r
The publication of detailed foreign trade statistics has been discontinued for the duration of the war.
Discontinued by compiling agency.
Revised.
1
Data are for the quarter ended June. 2 Not available for publication.
§ Data for 1939 revised; for exports, see table 14, p. 17, and for imports see table 15, p. 18 of the April 1941 issue.
f Revised series. Revisions for southern pine, western pine, and west coast woods for 1939 (also revisions for 1938 for the latter group), appear in table 17, p. 17 of the
May 1941 issue. Revisions for 1940 and January 1941 will be published in a subsequent issue.
*New series. The new lumber prices replace series shown in the Survey, through the March 1942 issue; data beginning 1926 are shown in table 11 (southern pine), and
table 12 (Ponderosa pine), p. 22, of the April 1942 issue. Earlier data on consumption and stocks of scrap iron and steel and consumption of pig iron not shown in the April
1942
Survey will appear in a later issue.
S-31
SURVEY OF CURRENT BUSINESS
August 1942
Monthly statistics through December 1839, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1942
June
1942
1941
June
July
August
September
October
Novem- December
ber
January
February
March
METALS AND MANUFACTURES—Continued
IRON AND STEEL—Continued
Pig Iron and Iron Manufactures—Con.
Pig iron—Continued.
Prices, wholesale:
23.50
23.50
23.50
23.50
Basic (valley furnace)
dol. per long ton..
23.50
23.50
24.20
24.15
24.15
24.15
24.15
24.15
Composite
do
25. 89
25.89
25.89
25.89
25.89
25.89
Foundry, No. 2, northern (Pitts)
do
4,553
4,791
4,717
4,856
4,771
Production!
thous. of short tons..
1,834
1,940
1,874
1,655
1,964
Stocks, consumers', end of month*
do
Boilers and radiators, cast-iron:
Boilers, round:
2,148
2,091
504
1,741
1,936
1,863
Production
thous. of lb_.
3,483
842
2,669
2,741
1,474
2,003
Shipments
do
11,912
9,325
14,024 13,405
14,951
15,096
Stocks, end of month
do
Boilers, square:
10, 532 25,319
21, 514 26, 505 27, 591 29,461
Production
do
37,360
12, 474 20, 382 26,426 38, 894 34,899
Shipments
do
91, 807 130, 339 125, 376 113,130 105,759 97,896
Stocks, end of month
do
Radiators and con vectors:}
7,675
7,098
8,267
7,133
4.333
6,151
Production.thous. of sq. ft. heating surface..
10,901
10,494
6,453
11,696
5,168
8,671
Shipments
do
16,149
25, 584 22, 394 20,154
Stocks, end of month
do
32, 817 30,263
Boilers, range, galvanzied:
74, 581
68,854 80,046
85,077
Orders, new, net
number of boilers. _ 30, 481 105,076
52, 652 72, 258 77,809 86,451 101,016 101, 609
Orders, unfilled, end of month
do
80,023
69,972
63, 729 58,635
72,970
39,171
Production
do
73, 988
40, 538 85, 784 79, 526 60, 212 65,481
Shipments
do
31, 534 24, 978 28,495 21, 615
17,599
11,015
Stocks, end of month
do
23.50
24.15
25.89
4,703
1,570
23.50
24.15
25.89
6,012
1,581
23.50
24.15
25.89
4,971
1,473
23.50
24.15
25.89
4,502
1,400
23.50
24.17
25.89
5,113
1,286
23.50
24.20
25.89
(«)
1,232
1,133
1,922
11,168
21,104
24, 502
93,669
1,115
1,448
11,182
732
1,484
10,146
754
1,408
9,493
1,012
1,083
9,421
1,071
938
9, 554
19, 642
17,380
92,998
18,756
17,044
94,832
17, 773
19,081
93,525
16,214
15,789
93,950
15,026
16, 301
92, 675
5, 787
7,695
18, 271
6,763
7,390
17, 567
6,717
6,175
18,106
6,199
6,781
17, 524
6,445
5,656
18,313
5, 399
6,384
17, 328
52, 605
93, 966
58, 810
60, 248
16,411
41, 343
80,844
55,856
54, 465
17,785
42, 781
72,366
50,557
51, 259
17, 212
53,809
77,190
49,217
48, 985
17,444
62,010
76, 750
64,847
62, 450
19, 841
38, 014
68, 884
42, 427
45, 880
16,388
24. 20
905
9. 673
11.494
8. 546
93, 749
r
4.317
4. 131
17.002
r
31.45$.
62. 7(#
33. 627
37. 633
] 2. 382
i
Steel, Crude and Semimanufactured
Castings, steel:
Orders, new, total
short tons..
Percent of capacty
Railway specialties
short tons_.
Production, total.
..do
Percent of capacity
Railway specialties
short tons..
Steel ingots and steel for eastings: f
Production
thous. of short tons..
Percent of capacity§
Prices, wholesale:
Composite, finished steel.
...dol. per l b . .
Steel billets, rerolling (Pittsburgh)
dol. per long ton..
Structural steel (Pittsburgh)
dol. per lb__
Steel scrap (Chicago)
dol. per long ton..
U. S. Steel Corp., shipments of rolled and
finished steel products!._thous. of short tons..
161,512 175,892 147, 316 115,066
98.3
150.3
125.9
138.0
80, 065 77, 669 52, 207 32, 882
113,988 112, 364 117,703 118, 543
101.3
100.6
96.0
97.4
45, 073 43, 320 44, 290 43,995
6,793
6, 812
6,997
6,812
117, 516 84, 534 113,034 150, 551
72.2
100.4
96.5
128.6
32,935
16, 549 26,839 35,723
135, 272 104, 605 131, 518 134,778
112.4
89.4
115.6
115.2
33, 383 45, 640 46, 357
49,891
7, 236
6,961
7,150
7,125
95
179,880
153.7
54,409
133, 726
114.3
45,013
211,081
180.4
43,997
146, 507
125.2
48,335
6,521
96
7,393
191,195 199. 619
163.4
170. fi
26, 558 11.025
149, 625 131, 492
127.8
112.3
45,158 25, 644
7,122
7, 387
98
.0265
.0265
.0265
. 0265
.0265
.0265
.0265
.0265
.0265
.0265
.0265
.0265
. 0205
34.00
.0210
18. 75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18. 75
1,667
1,754
1, 664
1,851
1,624
1,739
1,617 I
1,781
1, 759
1, 834
Steel, Manufactured Products
Barrels and drums, steel, heavy types:
1,762
1,492
1,214
1,652
1,497
2,047
1,317
2,149
2,230
1, 850
1.797
1,893
Orders, unfilled, end of month
thousands..
1.551
1, 586
1,713
1,619
1,859
1,749
1,590
1, 558
1,952
1,845
1,781
2,067
Production
do
2,416
1. 780
86.9
93.9
101.9
88.8
95.9
87.1
85.4
107.0
101.1
97.6
113.3
97. 0
Percent of capacity©
132.4
1,851
1,604
1,711
1,619
1,741
1,600
1,549
1,954
1,848
1,790
1, 777
Shipments
thousands..
2,420
2,046
34
25
40
39
34
42
37
48
36
34
Stocks, end of month
do
29
43
50
Boilers, steel, new orders:
r
1,34]
1,747
1,411
3,755
2,371
1,929
1,586
2,270
2,813
9, 695 r 3, 715 r 3, 250
Area
thous. of so. ft.. 2.217
1,131
957
1,310
1,415
997
1,246
1,035
1,601
' 2,822 ' 1, 593 r 1, 340
1,204
1,010
Quantity
numberFurniture, steel:
Office furniture:
3,932
3,422
4,612
5, 851
3,194
4,981
4,598
2.906
3,896
4,490
3,751
2, 755
1,203
Orders, new
thous. of dol
7,786
6,840
8,085
7,335
7,105
7,939
7,329
6,340
3.414
7,335
5,530
4,155
1,819
Orders, unfilled, end of month
do
4, 314
4,452
3,912
4,352
4,095
4,349
4. 204
4,338
4,236
4,188
4,560
4,130
2, 2,P6
Shipments
do
Shelving:
1,284
1, 525
1,182
858
1,082
1,094
999
i.ooe
1,418
1, 459
1,510
Orders, new
do
2,022
1,837
1,932
1,678
1.490
1,365
1,850
1,765
1,405
2, 273
1,870
Orders, unfilled, end of month
do
2, 703
2, 939
1,082
1,016
'994 I 1,130
1,027
1,173
1,058
1,166
1,015
1,130
1,012
Shipments
do
1. 115
],434
Porcelain enameled products, shipments!
5,802
5,371
5,598
5,608
5,807
5, 511
5,143
5,289
6,208
5,841
4, 239
5, 560
4. 521
thous. of dol..
375
321
292
366
338
276
341
302
290
334
Spring washers, shipments •
do
295 j
Steel products, production for sale:f
5,059
4,762
5, 234
5,471
4,909
5,144
4,919
4,754
5,170
5, 273
Total
thous. of short tons_()
431
485
503
456
490
439
443
447
511
563
Merchant bars
do
(a)
464
419
531
415
484
480
485
449
465
446
Pipe and tube
do
(a)
519
726
587
564
629
466
482
532
838
700
Plates
do.--(a)
124.1
112.2
92.2
122.8
132.6
90.6
99.7
134.8
139.5
118.2
Percent of capacity*
(a)
161
127
135
144
168
151
146
122
171
Rails
thous. of short tons..
133
(a)
954
991
1,018
945
889
999
1,053
765
857
Sheets, total
do
895
( )
(a)
88.5
94.1
92.4
87.5
80.1
93.8
90.4
77.5
77.7
Percent of capacity
81.7
Strip:
(a)
104
110
101
99
106
102
82
Cold rolled
thous. of short tons..
106
101
(a)
134
136
138
119
137
130
154
119
Hot rolled
do
140
135
(a)
372
407
403
354
366
391
373
392
Structural shapes, heavy
do
381
369
(a)
325
342
317
261
332
360
292
264
323
367
Tin plate..
do
(a)
420
432
407
352
404
434
417
403
398
396
Wire and wire products
do
10, 439 12,403
10,
266
13,
650
10. 642
10.236
11,210
14,107
13,
002
Track work, shipments
short tons..| 14,410
12, 247
11,711
r
Revised.
CData for 1P41 revised after a special survey of the industry; for revised figures for all months of 1941, see p. S-31 of the May 1942 Survey.
° Data not available for publication.
^Data for 1941 and 1942 include convectors and convector-radiators. Data for these items are included in part in earlier figures published in the Survey; 1940 data revised
to include these items for all reporting firms will be published later.
•Data cover 9 firms beginning December 1941; the increase in reporting firms from 7 to 9 in late 1941 did not materially affect the coverage of the data.
^Monthly data beginning 1929, corresponding to the monthly averages on p. 132 of the 1940 Supplement, appear on p. 18 of the April 1940 Survey.
§Beginning January 1942, percent of capacity is calculated on annual capacity as of December 31,1941, of 88,566,170 tons of open-hearth, Bessemer, and electric steel ingots
and steel for castings; data for July-December 1941 are based on capacity as of June 30, 1941 (86,144,900 tons), and earlier data on capacity as of December 31, 1940.
tRevised series. Data on pig-iron production beginning 1913 are shown in table 38, p. 14, of the October 1940 issue. For data on steel production beginning 1917 and
percent of capacity beginning 1926 through 1939, see table 9, p. 16, of the March 1941 issue, and for subsequent revisions in 1940 data, see p. 49 of the June 1941 issue. Porcelainenameled products revised beginning 1939 to include data for 99 manufacturers; for 1939 data, see p. 49 of the March 1941 issue. For steel products, production for sale beginning
1933, see table 45, p. 14, of the November 1940 issue.
*Earlier data on pig-iron stocks not shown in the April 1942 Survey and earlier data on percent of capacity for steel plates not shown in the September 1941 Survey w i 1 \
be published in a subsequent issue.
a
S-32
SUEVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1942
June
June
July
1941
SepAugust tember
August 1942
1942
October
Novem- December
ber
January
February
March
April
May
METALS AND MANUFACTURES—Continued
NONFERROUS METALS
Metals
Aluminum:
Imports, bauxite
_
long tons...
Price, wholesale, scrap, castings (N. Y.)
dol. perlb..
Bearing metal (white-base antifriction), consumption and shipments, total (60 manufacturers)!.
thous. of lb_.
Consumption and shipments, 38 mfrs.Q
Consumed in own plants.
do
Shipments
do
Copper:
Exports, refined and mfrs.§
short tons..
Imports, total §
do
For smelting, refining, and export§_..do
For domestic consumption, total* do
Unrefined, including scrap*
do
Refined*
do
Price, wholesale, electrolytic (N. Y.)
dol. perlb..
Production:
Mine or smelter (including custom intake)
short tons..
Refinery
_.do
Deliveries, refined, total..
do
D omestic cf
do
Export
do
Stocks, refined, end of month
do
Lead:
Imports,total,ex.mfrs. (leadcontent)_.do
Ore:
Receipts, lead content of domestic ore. do
Shipments, Joplin district!
do
Refined:
Price, wholesale, pig, desilverized (N. Y.)
dol. perlb..
Production from domestic ore..short tons..
Shipments (reported)
do
Stocks, end of month
..do
Tin:
Consumption of primary tin in manufactures
long tons-.
Deliveries (includes reexports)*
do
Imports, total (tin content)*.
do
Ore (tin content)*
do
Bars, blocks, piss, etc
do
Price, wholesale, Straits (N. Y.)..dol. per lb_.
Visible supply, world, end of mo. Jong tons..
United States (excluding afloat)
do
Zinc:
Imports, total (zinc content)*
short tons..
For smelting, refining, and export*.. .do
For domestic consumption:
Ore (zinc content)*
do
Blocks, pigs, etc., and old*
.do
Ore, Joplin districts
Shipments
_.short tons..
Stocks, end of month
do
Price, wholesale, prime, western (St. Louis)
dol. perlb.
Production, slab, at primary smelters:J
short tons.
Shipments, total {.
do
Domestic*
do...
Stocks, refinery, end of monthj
...do._.
121,484
95,794
90,960
86,462
. 0875
.1101;
.1100
.1100
.1100
.0936
.0931
.0938
.0873
3,163
6,378
5,538
5,767
5,830
5,621
4,754
4,753
5,506
463
1,646
750
2,806
699
2,838
983
2,696
911
3,066
757
2,931
723
2, 548
813
2,399
697
2,795
8,120
41,472
8,996
32,476
16,969
15,506
11,077
69,838
16,470
53,368
16,233
37,135
10, 589
71,153
13,373
57,780
19, 872
37,907
10,198
70,581
15,546
55,034
20,063
34,971
.1181
.1181
.1178
.1178
.1178
.1178
.1178
.1178
82, 558 82,099
88, 560 86,879
121,373 150,111
121,331 150,078
33
42
74,384
98,164
84,695
85,426
119,937
119,937
0
71,930
81,839 86,019
81,553 86,617
125, 585 126,766
125, 585 126,622
0
144
63,670 67,260
84,718
84,799
124,645
124,645
0
72,352
88,463
89,940
138,585
138,585
0
75,564
88,254
90,017
130,467
130,467
0
81,371
33,374
22,160
47,891
65,401
37,155
3,824
36,464
5,482
38,228
4,576
38, 259
5,603
39,390
40,930
4,291
40,901
4,977
43,224
3,231
41,828
3,690
43,397
5,576
43,171
2,348
3,638
.0585
38,669
57,969
24,265
.0585
42,048
54,067
19,172
.0585
39,100
55,005
15,330
.0585
41,373
47,093
13,148
.0585
37,221
43,537
10,735
.0585
41,566
45,980
13.671
.0585
48,829
50,680
20.185
.0628
43,307
53,037
20, 531
.0650
45,633
45,920
24,830
.0650
50,919
57,590
27,160
.0650
52, 049
54, 726
31, 374
.0650
47, 781
52, 874
29, 707
7,900
14,880
15, 266
3,714
11, 552
.5267
38, 600
2,846
12, 575
16,285
1,520
14, 765
.5335
8,830
13,625
17, 719
6,144
11. 575
'. 5236
8,830
12, 715
14, 311
2,115
12,196
.5200
8,760
8,000
()
8,290
8,355
9,570
7,700
.5200
.5200
.5200
.5200
.5200
.5200
.5200
.5200
5,864
2,393
1,767
"I," 127"
"2," 186"
~3~5(J6~
"W"
14, 745
8,372
11,415
5,624
22, 741
8,040
24, 342
11, 704
2,638
3,735
2,362
3,428
10,935
3,766
9,223
3,415
C)
C)
36,928
5,000
44,882
4,730
37, 655
5,250
46, 250
8.160
39, 220
4,730
37, 267
5,130
47, 685
900
28,812
4,130
36,687
2,550
48,224
500
34,119
2,940
34,481
4,240
.1178
(a)
(a)
(a)
(a)
C)
(a)
4, 794
.0650
.5200
46, 279
3,500
.0825
()
(a)
(a)
(a)
.0875
.0875
3,745
4,599
r 3, 578
3,541
562
1,885
594
2,198
667
«• 1, 484
528
1,711
.1178
.1178
. 1178
.1178
80,148 92,106
81, 724 89,552
107,616 111,062
107,616 111,062
0
0
77,329 79,537
94, 295 101, 683
90, 672 98, 632
106, 701 134,079
106, 701 134, 079
0
0
83, 789 77, 383
.0725
.0725
.0725
.0725
.0794
.0825
.0825
.0825
.0825
.0825
.0825
.0825
70,837
71,569
61, 546
11,101
74,641
71,894
62,714
13,848
75, 524
71,403
60,861
17, 969
73,225
71, 767
64,623
19,427
76,156
73,989
61, 525
21, 594
74,861
73, 273
61,014
23,182
78,654
77,770
65,658
24,066
79,276
79,417
67,252
23,925
73,476
74,775
59,957
22,626
79,139
80,063
61, 564
21,702
77,034
76,177
63,819
22, 559
79, 489
83, 601
66, 736
18,447
Miscellaneous Products
Brass and bronze (ingots and billets):
15,672
15,308
17,180
Deliveries
short ton:
16,388
30,646
30, 762 30,891
Orders, unfilled, end of month
do
28,981
.195
.195
.195
.195
.195
Sheets, brass, wholesale price, mill.dol. per lb._
.195
.195
.195
.195
.195
.195
.195
MACHINERY AND APPARATUS
8,818
Blowers and fans, new orders
thous. of dol__
8,067
9,579
10, 205
Electric overhead cranes:
5,927
2,064
1,131
2,835
1,769
2,098
3,163
Orders, new
.do...
2,239
1,768
5,577
9,624
6,378
6,236
18,415
13, 744 13,498
34,190
12,961
Orders, unfilled, end of month
.do...
13, 731 14, 654
13,814 13,503
21,622
34, 471
32,265
28,563
2,079
1,287
2,768
Shipments
do...
1,955
1,364
2,071
1,678
2,511
1,923
2,216
2,197
2,561
2,577
Foundry equipment:!
532. 7
358.1
281.1
312.9
774.0
363.8
403.8
653. 6
408.5
481.2
New orders, net total
1937-39=100.
567.9 1,122.3 1,089. 3
570.6
273.3
368.4
884.4
298.2
372.0
414.2
730. 2
New equipment
do
417.4
505.3
636.6 1,352.7 1, 307. 7
441.5
418.5
326.9
304.7
356.9
Repairs
do.._
339.2
327.2
361.4
423.3
381.7
408.7
432.1
428.8
Fuel equipment and heating apparatus:
Oil burners:
32,521
28, 511 31,140 34,143
20, 202 23,225 • 19, 674 16,006
27,451
Orders, new, netnumber.
14,844 10, 883
10, 680
22,448
23,114
22, 885 22, 321 18, 358 16, 747 18,057 • 18, 418 16,428
Orders, unfilled, end of month
do...
17,051
16, 334
17, 843
32,685 27,845
31,369 34, 707 31,414 21,813 21,915 ' 19,159 17,996
Shipments
do...
14, 412 11, 600
9, 171
27, 202 33,017 31,940 27, 294 27, 099 27, 304 28, 900 ' 27,601 28,124 29,947 34, 509
Stocks, end of month
do...
39, 277
61
44
42
72
61
46
109
Pulverizers, orders, new
..do...
22
43
43
62
39
r
Revised.
©Data cover 37 manufacturers beginning January 1942, one having gone out of business.
* The publication of statistics has been discontinued for the duration of the war.
* Deliveries are now reported for a larger number of companies than formerly and are not comparable with earlier data; no data for unfilled orders.
§Data revised for 1939; for exports see table 14, p. 17, and for imports see table 15, p. 18, of the April 1941 issue.
•Represents deliveries of foreign virgin tin; virgin tin produced in the United States from foreign ores is not included.
{Revised to include foreign ores beginning January 1940; see p. S-32 of the October 1941 Survey for earlier data.
cf Beginning March 1941, includes deliveries of duty-paid foreign copper for domestic consumption.
"JData for July, September, and December, 1941, and March and June 1942 are for 5 weeks; other months, 4 weeks.
*New series. Earlier data for the new break-down of copper imports and the new series for tin and zinc imports will appear in a later issue. For domestic shipments of
zinc beginning January 1940, see p. S-32 of the October 1941 Survey.
fRevised series. Data beginning January 1939 for the new series on bearing metal will be published later (see also note marked with a "t" on p. S-32 of the December
1941^ Survey); one of 60 reporting manufacturers went out of business before January 1942.. For series on foundry equipment, see note marked with a " I " on p. S-32 of
the September 1941 issue.
S-33
SURVEY OF CURRENT BUSINESS
August 1942
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1943
1941
June
September
June
July
August
1942
October
Novem- December
ber
January
February
March
April
May
METALS AND MANUFACTURES—Continued
MACHINERY AND APPARATUS—Con.
Mechanical stokers, sales:
Classes 1, 2, and 3
number..
Classes 4 and 5:
Number
Horsepower
Unit heaters, new orders
thous. of dol..
Warm-air furnaces, winter air-conditioning
systems, and equipment, new orders
thous. of dol__
Pumps and water systems, domestic, shipments:
Pitcher, other hand, and windmill pumps
units. .
Power pumps, horizontal type.
do
Water systems, including pumps
do
Pumps, steam, power, centrifugal, and rotary:
Orders, new
thous. of dol__
21,401
26,050
28,244
26, 720
22,888
10, 613
8,303
400
93, 515
4,450
403
91, 051
487
91, 429
418
83, 222
6,482
401
75, 296
264
53,020
289
72, 229
7,062
19, 552
11,357
5,703
246
67,011
316
81,890
10,972
9,573
4,722
296
77,770
5,481
416
89,318
331
77, 635
37, 672
219
27, 989
27, 480
97
24,204
4,334
4, 634
7,423
15,001
36,475
975
32,270
46, 572
1,176
33,894
45, 682
1,209
33,503
39,527
1,295
32,400
41,360
1,376
33, 907
37, 668
1,498
28,221
31,663
984
28,198
41, 534
1,150
23, 788
2,613
3,113
3,692
2,459
2,394
2,368
2,459
4,138
5,784
137
139
167
142
228
145
246
149
253
152
182
151
185
153
111
154
180
162
161
169
91
169
65
167
199.6
202.7
183.9
204.5
20,283
21,246
68, 629
64,476
1378,054 339, 421
146,889 155,843
35, 783
31, 977
188,365 213,862
158.6
162.9
18.478
50,759
270, 543
150,620
27, 686
148,811
193.2
157.7
193.3
167.8
14,545
15,916
66,206
51,730
164, 521 132,972
182, 550 127,190
33,239
21, 730
145,194 147,390
118.4
167.1
10, 352
38,350
92,034
109,618
20,367
103,288
142.8
109.9
207.4
138.1
12. 974
12,439
30,196
48,705
100,572 135,913
113,416 102, 292
21,288
14,446
93, 341
113,054
136.0
145.0
13,067
39,945
121.0
91.0
93.0
72.0
47.0
37.0
27,820
19, 756
108,777
16,157
114,242
95,741
16,029
264.6
468.8
247.0
343.0
283.0
909.0
• 40, 528 • 43,117
359
167
• 24, 437 • 26, 672
ELECTRICAL EQUIPMENT
Battery shipments (automotive replacement
only):
Unadjusted
1934-36=100..
Twelve-month moving totalf
do
Domestic appliances, sales billed:
Combined index, excluding refrigerators:*
Unadjusted index
1936=100..
Adjusted index
do
Ironers, household
.units..
Ranges*
do
Refrigerators
do
Vacuum cleaners, floor type
.do
Vacuum cleaners, hand type
do
Washers, household
do
Electrical products:
Industrial materials, sales billed... 1936=100..
Motors and generators, new orders
do
Transmission and distribution equipment,
new orders
1936=100-.
Furnaces, electric, industrial, sales:
Unit
..kilowatts..
Value
thous. of dol..
Electrical goods, new orders (quarterly)
thous. of dol..
Laminated fiber products, shipments
do
Motors (1-200 hp.):
Polyphase induction, billingsX
do
Polyphase induction, new ordersj
do
Direct current, billings
do
Direct current, new orders
...do
Power cable, paper insulated, shipments:
Unit
thous. of ft..
Value
.thous. of dol_.
Rigid steel conduit and fittings, shipments*
short tons..
Vulcanized fiber:
Consumption of fiber paper
thous. of lb_.
Shipments
thous. of dol_.
237.1
406.5
240.8
444.1
243.0
307.0
254.5
370.0
272.8
332.8
238.1
329.7
252.8
425.2
288.0
859.0
291. ft
1, 008. 0
289.1
335.9
288.8
360.4
384.7
355.7
283.7
286.4
299.0
471.0
472.0
318.0
11, 626
945
11,644
976
18,312
1,522
22,291
1,733
12,924
1,060
8,617
646
12,298
1,149
21, 520
1,882
23,961
2,491
45,674
4,551
148, 556
10, 367
34, 210
3,177
581,675
2,791
2,822
2,803
629,028
3,102
3,363
2,997
583,214
3,151
3,370
3,151
759,063
3,641
3,699
5,455
7, 750
1,725
4,257
5,983
6,200
1,867
4,512
5,765
5,825
1,761
3,395
6,016
6,560
1,843
3,057
6,298
6,903
2,314
2,903
5,388
5,410
2,074
2,860
6,957
8,176
2, 552
4,602
6,061
7,086
2,140
3,974
6,417
7,409
2,294
3,056
6,743
13,189
3,097
8,313
7,604
12, 697
4,418
10,196
1,321
1,655
1,510
1,860
1,418
1,729
1,244
1,807
1,487
2,052
1,067
1,536
1,054
1,694
958
1,475
928
1,119
605
1,062
578
934
26, 540
27, 681
28,879
26,412
24,817
28,840
22, 834
22,838
25, 572
26,499
3,595
1,178
3,683
1,302
3,785
1,183
3,958
1,202
3,525
1,031
3,738
1,107
3, 451
1, 024
3,681
956
3,987
1,107
3,762
1,100
3,900
1,145 I
22,987
4, 228
1,215
PAPER AND PRINTING
WOOD PULP
Consumption and shipments:0§
859, 056 847,617 903,188 826,497 921,872 916, 497 • 875,085
Total, all grades
...short tons.. 833,928 814,436 811,364 847,576 811,093
379, 349 374,877 402. 996 373,289 422,107 416, 206 421,243
Sulphate, total
...do
388, 518 369,148 360,235 387, 475 367, 850
324,881 325, 665 348,105 318,510 367, 071 361,796 • 368,784
337, 371 307, 785 302,328 326, 769 313, 576
Unbleached
do
259, 516 258,254 270, 666 248,964 272,530 279,045 246,655
Sulphite, total.
do
254, 736 242,084 251, 650 257, 727 245, 856
144, 396 147,802 153, 992 140, 784 154,834 162, 749 138,249
150, 815 144, 528 149, 405 154,174 143,065
Bleached
do
54, 635
54,141
51,814
57,161
52,229
51,031
52, 332
54,167
53,276
56, 543
45, 291
Soda
do
51, 366
166,024 161, 210 172, 983 152,430 170, 074 166, 611 155, 821
145, 383 150, 872 147, 250 148, 233 146, 356
Groundwood
do
19,378
35, 387
14,174
13, 828
Exports, total, all grades*
do
90,501 109,831
105,031
98,027
Imports, total, all grades*
do
15,255
11,858
14,530
16, 447
Sulphate, total*
do
10,552
7,799
11,903
9,757
Unbleached *
do
75, 111
70, 598
57, 369
65,158
Sulphite, total*
_do
35, 219
32, 524
38.055
28, 930
Bleached*
do
28, 439
37.056
32,634
35,379
Unbleached*..
-...do
17,626
20,149
16, 804
16, 732
Groundwood^
do
Production^
863, 786 847, 732 918, 085 827,823 945,385 912, 434 906,049
840, 589 805,562 779, 753 824,760 797,725
Total, all grades.
...do
378, 087 373, 737 405,729 371, 572 426,818 412,784 428,479
Sulphate, total
.
do
394, 702 366, 050 354, 337 384, 345 366, 776
324, 352 324, 942 349, 677 317,977 371,045 '359,315 374,412
342. 983 305,192 297, 521 323, 261 312,949
Unbleached
do
259, 685 253, 004 274, 724 246,942 277,408 265, 639 259,072
Sulphite, total
...do
253, 078 239, 069 238, 725 250, 462 243, 713
143, 458 145,138 156,252 141,544 158,440 150, 657 147,791
148,830 144, 503 139,921 147, 214 142, 000
Bleached
.do
52,124
51, 857
54, 368
54,587
50, 008
53, 594
45, 484
50, 766
56, 505
Soda
do
57,120
52, 461
53,413
172,420 167, 578 181,127 157,185 184,039 179, 643 166, 037
147, 325 148, 586 135, 925 135, 366 137, 228
Groundwood
_do
S tocks, end of month:§
Total, all grades
do
95,600
95, 500 110,500 111,800 135,100 131,100 162,000
168, 700 163, 400 131,800 109,000
95, 400
14, 900 19,700
20,100
26, 000
15, 900
13, 900
16, 700
17,000
29, 700
Sulphate, total
do
16, 200 ' 23, 500
15,100
10,600
14,600
11, 500
9, 600 11,100
12,100
Unbleached
..do.._. 23, 300 20. 400 15,600
12,100 r 17, 700
10, 300
38,100
48, 000
Sulphite, total
do
60, 900
42,8C0
36,100
40,100
40, 700 38, 600
40, 200
29, 400 r 41, 800
41, 300
24, 600 28,200
32, 200
41, 700
24, 200
21,600
23, 900
25, 200
23, 700
16,100
24, 300
Bleached
do
25, 700
3,600
5,000
6,500
3,600
4,500
3,400
5,500
4, 600
3, 300
3,200
Soda
do
3,400
4,400
55,100
69,100
50,300
82,100
35, 800
42, 200
Groundwood
do I 94, 200 70, 000 58, 600 45, 800 36,600
92, 300
* Revised.
* Preliminary.
« See note " ° , " p. 30.
•Domestic pulp used in producing mills and shipments to market.
% Shown in 1940 Supplement and monthly issues through February 1941 as A. C. motors. TData revised for 1939; see table 15, p. 18 of the April 1941 issue.
§ Data have been revised beginning January 1939; the revised data will be published in a subsequent issue. All data shown above are estimated industry totals furnished by the U. S. Pulp Producers Associatian.
*New series. For data beginning 1931 on unit sales of electric ranges, see table 52, p. 18 of the November 1940 issue (for revision in note regarding coverage of the data,
see note marked with an "*" on p. S-33 of the October 1941 Survey). Data beginning 1937 for shipments of rigid steel conduit and fittings are shown in table 34, p. 26, of
the
November
1941 Survey. Earlier monthly data for the indexei of domestic appliances are shown in table 38, p. 21, of the January 1942 issue. Data beginning 1913 for exDigitized forports
FRASER
and imports of wood pulp are shown on p. 13 of the October 1940 issue.
tRevised series. This series replaces the adjusted index; earlier data will appear in a subsequent issue.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
S-34
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1941
1942
June
August 1942
June
July
August
1942
September
October
January
Novem- December
ber
February
March
3.625
3.713
3.625
3.713
April
Mav
PAPER AND PRINTING—Continued
WOOD Pl'LP—Continued
Frees, wholesale: T
Sulphate, Kraft N o. 1,unbleached*.dol.per 1001b.
Sulphite, unbleached
do
3.625
3.463
3.625 I
3.463
3.625 j
3.525 i
3. 625
3. 713
3.625
3.713
3.625
3. 713
3.625 ; 3. 625
3.713 : 3.H3
)
C)
PAPER
Total paper, incl newsprint and paperboard:f
Production
._ . . .
.short tons,.
Paper, excl. newsprint and paper board :f
Orders, new. . . .
short tons. .
Production
do
Shipments
do
Book papertcf
Coated paper:
Orders, new
short tons..
Orders, unfilled, end of month
do
Production
do
Percent of standard capacity
Shipments
.-short tons..
Stocks, end of month
do
Uncoated paper:
Orders, new
do
Orders, unfilled, end of month
do
Price, wholesale, " B " grade, English finish,
white, f. o. b. mill.
..dol. per 1001b..
Production
short tons..
Percent of standard capacity
Shipments
short tons..
Stocks, end of month
do
Fine paper :f
Orders, new
do
Orders, unfilled, end of month
....do
Production
do
Shipments
..do
Stocks, end of m o n t h . .
do
Wrapping paper:f
Orders, new
do
Orders, unfilled, end of m o n t h . .
do
Production
do
Shipments
do
Stocks, end of m o n t h . .
_
do
Newsprint:
Canada:
Exports.
do
Production..
_
do
Shipments from mills
do
Stocks, at mills, end of month...
do
United States:
Consumption by publishers
do
Imports
do
Price, rolls (N. Y.)
dol. per short ton..
Production
short tons..
Shipments from mills
do.
Stocks, end of month:
At mills
do....
At publishers
do.
In transit to publishers
- do.
Paperboard:
Consumption, waste paper...
do.
Orders, new
do.
Orders, unfilled, end of month
do.
Production
do.
Percent of capacity
Waste paper stocks, at mills
short tons..
PRINTING
I
I
Book publication, total
no. of editions j
New books
do...
New editions
do I
Continuous form stationery, new orders
I
thous. of sets.. i
Sales books, new orders. _
thous. of books. J
,089,552 1,090,981 1,156,900 -1,132,309 [1,238,030 1,161,122 11,177,426 1,249,415 j 1,132,586 1,224,765 1 194 724,1,102,122
558,810
501.177
515.878
26,132
23, 354
22f 913
86.8
23. 388
12, 745
576,166 572,131 546, 476 561,183 494.691
504, 162 528,192 515, 247 567, 294 54^.855
522, 296 537, 925 522. 578 581, 324 541, 125
24, 967
24, 741
23, 808
86.7
23, 905
12,587
523.096
550,696
557,951
570,366 490,358 • 535,913 •481,111 j 427,930
584. 728 1525,743 •565,900 • 561,402 I 530, 692
579,162 524,645 •549,851 •544,114 ! 511.035
24, 276
21, 646
29 049
100.0
28, 703
13, 514
20. 300
17, 677
25,859
96.2
25,628
13, 713
19, 286
14, 723
25,526
91.3
25,435
13, 745
21, 354
13,138
25, 439
87.6
25, 380
13, 719
14,769
9,413
19,661
76.2
19, 958
13,408
13,708
6,523
17, 200
61.5
17,027
13,696
?0. 064
51,326
139, 598 143, 528 139, 643 134, 790 135, 649
124, 865 136,394 143, 209 145, 861 134,649
115,160
119, 869
120, 759
107,441
137,942
106,153
110,708
92,394
119,348
81,642
106,690 i 88,992
68,283 | 55,412
7. 30
93,679
73.9
94, 703
54, 118
7.30
6.95
7.30
7.30
7.30
128, 939 126, 564 138, 599 128, 983 145, 887 136, 659
105.1
101.6
107.2
105.0
109.8
111.0
130, 589 129, 224 136,180 132, 720 146, 523 133,067
47, 614 43, 755 47, 932 43,828 43,115 47,271
7.30
132,236
102.6
133,458
45,273
7.30
143, 583
108.9
141,828
45, 968
7.30
129,403
109.3
128,712
46, 738
7.30
133,316
105.0
130,266
49,733
7.30
124,607
98.2
121,980
52,335
66,947 71,168
65,527 66,982 52,773
79, 560 102. 591 120,602 126,097 131, 876 127,734
49.186
59, 607 58, 242
49. 629 54,073
55,115
51,201
53,664
56, 523 56,062 63,826 60,053
57,838 51,194 49,078 48,970 | 43,923
42,430
61,948
119,847
60,176
60,881
41,318
66,766
115,708
61, 766
62,792
39,674
53,211
112,775
' 55, 699
57,926
37,024
55,029
104,915
62,468
61,052
38,120
••46.505 :
' 79,757
'62,167
'59,691 I
' 40, 529 !
8, 449
3, 907
10, 333
37. 0
9, 824
14, 070
242, 762
253, 283
158, 888
28,113
27.503
25,248
91.2
25, 273
12, 637
21,032
24, 772
24, 791
92 2
24, 692
12, 762
i
7.30
; 114, 111
89.4
i
i 111,088
i 55, 586
40,167
64, 766
58, 971
56, 430
42, 960
195,280
199,691
184,619
186,706
77,634
195,492
200,233
190, 581
195,017
70, 545
183,054
199,450
186, 853
185,418
71,809
197,035
191,666
204,790
205,921
70,770
171,950
176, 775
186, 799
188,076
68,960
195,773
172,528
197,408
196,880
70,422
205, 436
167,838
211, 630
211,880
70, 689
181,150
161,842
187,990
185,348
70,039
203,361
160,881
208,188
203,323
74,091
199, 272 187,460
151,056 131.933
210, 318 207, 863
209,120 204, 402
75, 598 79, 244
263,659
273,697
281, 843
165,898
303.126
293,483
300, 236
159,145
275,223
293,054
296,985
155, 214
293,181
298,276
305,010
148,480
321,664
318, 787
304,685
162, 582
298,938
300,308
320,860
142,030
298,380
300,823
319, 282
123, 571
268,110
311,904
291, 998
143,477 i
254,799
278,101
264,621
156,957
269,749
295,835
308,166
144,626
230,324 | 247,983
277,741 | 251,831
238,346 !1 266,443
184,021 169,409
50.00
50.00
! 81,680 | 84,628
! 83,998
80,787
17,049
402, 401
36, 442
12,065
277, 681
49,687
224, 361 239,098 262. 488 263,889
254, 894 242, 570
50.00
50.00
50.00
50.00
83, 592 78, 657 87,068 82,621
80, 756 80,252 87, 318 84,331
|
I
i
11,864
10,623 I 13,459
11,614 I 0,904
320,602 i 345.158 341,884 334,529 333,120
40,451 38,706 46,608 46,570 I 53,459
| 7,586
11,427
I 330,259 366,236
I 55,037 i 46,362
296, 938
379, S75
183,985
425, 175
72.4
414,775
374,185
525, 325
383, 534
504,413
92.3
264,631
384,765
569,252
435,891
503,620
85.6
272,317
244
50. 00
79. 386
78,413
8, 896
4, 867
11,201
40.1
11,161
13, 570
194,352
193,056
181,924
181,928
79,083
242,404 215,012
252,872 247,103
50.00
50.00
83,962 83.199
85, 424 84,641
222,
13,401
4,922
15, 467
55.3
15, 399
13, 543
894
708
186
695 |
593
102
262, 591 195,361
26,219
26,137
411,073
565,853
452,966
545,116
95.9
237,339
422,361
542,792
444,736
538, 405
95.0
218, 257
985 i
774 i
211 |
903
780
123 ;
219,326 271,203
26, 544 27,878
j 274,471 ! 231,961 | 216,109 j 251,042 i 238,493
464,446 419,770 I 437,902
595,634 527,829 ! 521,866
446,023 433,788 | 404,121
583.668 536,646 | 545,050
92.6
98.9
98.5
189,163 167,424 i 186, 522
874 1,190
767
982
107
208
299,591 j 223,492
28,278
24,859
833 ;
716 i
117 ;
425, 878
581,502
406, 348
580, 059
96.8
181, 456
50.00
76,234
75, 247
50.00 • 50.00
80,923 ! 82,669
82,176 ' 81,182
242,372
50.00
80,040
76, 612
12,
370,
55,
11,161
368,520
47, 376
12.648 j 16,076
383,384 i 384, 758
44,843 ! 39, 025
390,
508,
389,
530,
438,591
542,432
349,434
577,942
98.6
241,178
411,110
495,547 !
297,904 j
550,653
94. 0
308, 903
198,
352, 972
428, 77S
228, 701
491, 390
83.8
371,086
782
657
125
1,036
818
21S
261,913 ' 262,613 I 257,791 j 300,717 i 206,078
24,979 | 2 2 , 8 0 6 | 22,878 | 19,072
23,307
109,904
18.101
753
645
108
804
674
130
743
586
157
RUBBER AND PRODUCTS
CRUDE AND SCRAP RUBBER •
Crude rubber:
53, 655
60,418
Consumption, total
long tons.
84, 912
68. 653
55, 365
115,749
For tires and tubes (quarterly)
do
147,045
(a)
64, 5"
97,081
106, 540
83,151
Imports, total, including latext
do....
.232
.241
.222
.227
.226
.231
.219
Price, smoked sheets (N. Y.). ...dol. per lb_
164,968 113,548
Shipments, world§
long tons.
127,659 131,133 127,634
Stocks, end of month:
290,000 270,000 2f 0,000 280,COO 2S5,000
Afloat, total
do...
175,499 132,304
141,756 17?, 633
90,591
For United States
do...
90,006
91,189
79, 296
98, 724
91.478
British Malaya.
do...
339,108 375, 605 42«. 253 455,000 454,711
United States i
do...
Reclaimed rubber:
20,864
24, 032
25, 009
22, 559
21, 725
Consumption
do
?6, 560
24.111
24, 678
23, 790
23,111
Production
do...
38,604
36,751
39,099
38,055
36, 265
Stocks, end of month
do
.
I 56,138
Scrap rubber consumption
do...
53, 311
'h Revised. * Includes Government reserves. ° The publication of detailed foreign trade statistics has been discontinued for the duration of the war.
No comparable data.
JFor monthly data for 1913 to 1938, see table 28, p. 18 of the May 1940 Survey; for revised data for 1939, see table 15, p. 18 of the April 1941 Survey.
cTThe number of companies reporting has fluctuated to such an extent that tonnage figures are not comparable from month to month.
§Data are from the Statistical Bulletin of the International Rubber Regulations Committee; see note marked " § " on p. S-34 of the February 1942 Survey,
tRevised series. For revised data for the indicated paper series beginning 1934 see table 43, pp. 12 and 13 of the November 1940 Survey except for subsequent revisions
in
total
paper beginning February 1939 through February 1941 which will be published in a later issue.
*New
series. Data beginning 1926 on price of sulphate wood pulp will be shown in a subsequent issue.
•The
http://fraser.stlouisfed.org/ publication of rubber statistics has been discontinued.
Federal Reserve Bank of St. Louis
S-35
SURVEY OF CURRENT BUSINESS
August 1942
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1942
1941
June
September
June
July
August
1942
October
November
December
January
February-
March
April
May
RUBBER AND PRODUCTS—Continued
TIKES AND TUBES
Pneumatic casings:
Production
thousands..
Shipments, total
do
Original equipment.
_
do
Replacement equipment
.do
Exports..
do
Stocks, end of month.
do
Inner tubes:
Production
_
do
Shipments, total
.do
Exports.do
Stocks, end of month
.do
Raw material consumed:
Crude rubber. (See Crude rubber.)
Fabrics (quarterly).
.thous. of lb_.
6,379
7,602
2,595
4,871
136
7,088
5,578
6,450
1,998
4,309
143
6,235
4,983
5,394
1,122
4,132
140
5,834
4, 5f3
5,259
1,469
3,661
129
5,154
4,834
5,867
1,994
(fc)
6,264
6,908
104
7,010
5, 278
5,917
89
6,357
4,436
4,780
105
6,071
4,143
4,792
90
5,431
4,137
5,143
4,789
6,366
12, 256
5,543
6,990
10,809
5,844
7,422
9,228
6,848
7,433
8,650
C)
4,448
3,964
4,048
1,804
2,967
2,604
1,289
1,369
1,231
9S5
1,113
1,116
1,156
1,027
1,100
1, 557
4,043
4.417
4,55®
4, 553
4,809
5,175
3,725
3,825
2,729
2,390
1,328
1,257
1,051
1,099
1,129
1,141
1,299
4,377
4,678
4,712
5,026
5,892
6,362
6,287
8,725
6,532
6,086
9,170
5,545
6,300
8,315
4,479
5,247
6,803
3,884
4,171
6,272
3,502
3,827
5,947
111, 700 130, 525 109, 568 105,808
110,645
88, 614
RUBBER AND CANVAS FOOTWEAR
Production, totaL
Shipments, total
Stocks, total, end of month
thous. of pairs..
___do
do
3,154
3,656
5,455
6,278
5,668
13,834
4,753
5,213
7,907
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
Coated abrasive paper and cloth:
Shipments
_
reams.. 115,910
130, 852
146,734
173,022
141,985
16,022
79.0
18,250
22,654
5,808
15, 223
74.0
16,109
21, 865
5,757
16,000
74.9
16,687
21,178
5,522
16, 345
76.5
17,825
19, 732
5,219
16,115
78.3
18, 284
17, 561
4,804
16,688
78.6
17,833
16,417
4,192
14,931
72.7
13, 724
17, 638
4,250
13,810
64.8
11,511
19,925
4,575
12, 360
58.6
9,115
23,168
5,020
10,787
57.0
8,293
25,668
5,840
12, 733
'61.0
12,563
25,831
6,570
14,068
69.©
14,774
25,112
6,656
16,119
77.0
16, 349
24,882
6,241
13.254
12. 504
12.582
12. 715
12. 853
12.876
12. 921
12.935
13.100
13.165
13. 215
13.209
13.216
6,340
1,694
7,192
1,929
6,701
1,890
6,330
1,816
6,831
1,932
5,289
1,501
5,029
1,432
3,584
1,077
1,047
3,944
1, 119
3,905
1.147
3,290
939
3,384
28, 778
4,056
28,711
3,906
27,813
5,873
24, 630
4,551
24,694
3,113
17, 211
1,735
17,122
1,046
17,948
785
18,823
2, 075
18, 992
1,983
19,615
2, 680
19, 500
6,168
96.0
6, 867
358
1,449
47
763
605
1,027
1,695
479
260
165
8,397
6,325
|94.7
6,400
497
1,321
44
694
493
841
1,608
401
277
200
8,176
6,844
102.4
6,847
867
1,308
39
479
432
025
1,820
414
302
239
8,052
6,370
99.1
6,968
1,008
1,269
45
331
401
1,074
1,891
417
342
158
7,321
7,016
101.1
6,244
389
1,242
55
310
408
1,042
2,022
464
285
10
7,948
6,187
100.3
5,295
240
974
42
316
260
1,056
1,766
381
242
3
8,711
6,043
90.4
4,965
214
862
39
332
395
843
1,640
374
245
4
9,610
6,755
96.5
5,877
271
1,191
45
352
524
905
1,884
399
257
29
10,228
5,965
96.1
6,141
352
1,319
37
408
601
917
1,741
429
224
97
9,950
6,935
103.1
7,073
588
1,517
49
503
737
983
1,806
514
243
106
9, 450
6,921
102.9
6,830
454
1,554
51
479
868
838
1,757
448
234
125
9, 417
7,192
111.2
6,997
419
1,489
49
508
1,158
814
1,733
441
259
104
9,489
4,857
4,863
7,820
4,541
4,382
7,899
4,879
4,826
7,872
4,407
4,998
7,208
4,837
4,937
6,975
4,658
3,584
7,903
4,346
3,236
8,936
5, 350
4,143
8,797
4,595
3,921
9,376
4,804
4,482
9,260
4,558
4,610
9,156
4, 134
4, 315
8,879
5. 570
1,644
101.3
4,310
1, 557
95.9
138, 555 138,327
199,373
PORTLAND CEMENT
Production
_thous. of bbl...
Percent of capacity
Shipments
thous. of bbl...
Stocks, finished, end of month
..do
Stocks, clinker, end of month
do
CLAY PRODUCTS
Common brick, price, wholesale, composite
f. o. b. plant
dol. per thous...
Floor and wall tile, shipments:
Quantity
thous. of sq. ft .
Value
thous. of d o h .
Vitrified paving brick:
Shipments
thous. of brick..
Stocks, end of month
_.
do
GLASS PRODUCTS
Glass containers: §
Production
thous. of gross. _ 6,723
99.9
Percent of capacity..
Shipments, total
thous. of gross. _ 6,356
331
Narrow neck, food*...
do
Wide mouth, food*
do
1,405
Pressed food ware*
do
43
Pressure and non-pressure*
do
451
1,065
Beer bottles*
do
759
Liquor ware*—
do
1,482
Medicine and toilet*
do
433
General purpose*
do.
272
Milk bottles*
do.
Fruit jars and jelly glasses*
do
90
10. 008
Stocks, end of month—
do
Other glassware, machine-made:*
Tumblers:
3, 779
Production
thous. of doz__
3,845
Shipments
do
9,140
Stocks
do
Table, kitchen, and householdware, shipments
2,494
thous. of doz..
Plate glass, polished, production
thous. of sq. ft.. 4,726
1,223
Window glass, production
thous. of boxes..
75.3
Percent of capacity
3,069
2,903
3,857
3,427
4,082
3,279
2,553
2,587
3,112
3,278
18, 534
1,304
80.3
12,463
1,281
78.9
14,126
1,267
78.1
14,906
1,123
69.2
15,769
1,524
93.9
14,277
1,300
80.1
10,311
1,696
104.5
9,143
1,639
100.9
5,600
1,457
89.7
5,565
1,583
97.5
2, 927
GYPSUM AND PRODUCTS
Crude:
Imports. _.
short tons..
Production
do...
Calcined, production
do
Gypsum products sold or used:
Uncalcined
do. _ _
Calcined:
Building plasters
.do...
For mfg. and industrial uses.
_.do___
Keene's cement..
do...
Board and tile, total
thous. of sq. ft.
Lath...
do...
Tile....
do...
Wallboard.
do...
326, 248
1,197,689
1,026,987
366, 519
1,335,905
1,099,244
1,361,034
1,088,745
365,682
368,209
317,781
285, 755
523, 218
38,222
7,672
709,282
472,696
11,267
225,319
577,840
41,569
8,854
718,415
479,794
9,133
229,488
436,255
36,130
6,841
843,920
567,393
7,398
269,129
352, 316
34,114
5,904
559,498
348, 061
6,490
204, 947
()
1,066,362
817,856
* Revised.
• The publication of detailed foreign trade statistics has been discontinued for the duration of the war.
* Data not available.
•New series. Data for glass containers for the period January 1934-December 1939 are shown in table 49, pp. 16 and 17, of the November 1940 issue; minor revisions for
1940 for wide-mouth food containers and liquor ware not shown on p. S-35 of the September 1941 issue, and also revisions for 1941 not shown on p. S-35 of the June 1942 Survey
are available on request; earlier data on glassware other than containers are shown in table 2, p. 17, of the January 1941 Survey.
§ Data revised for 1941; revisions for January-March not shown in the Survey are minor and are available on request.
S-36
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1939, together with explanatory notes and references
to the sources of the data, may be found in the
1940 Supplement to the Survey
1942
June
August 1942
1941
June
Tniv
July
Aninut
August
1942
hftr
hAr
ber
January
12, 501
12, 585
21, 367
12, 555
11,938
22,026
13,147
12,869
22, 304
12, 204
12, 759
21, 749
875, 682 953,600 849, 733 887,326
189,215 161, 668
(°)
25, 413 40,696
(°)
.158
.166
.162
.175
.164
.173
.165
.171
9,596
9,915
4,713
945,909
893,745
.169
.178
.181
.190
. 192
.190
.192
.196
.202
.200
Sep
"
ffirnhpr
Oct
°"
hfir
N o v e m
*
D e ccem
em-
February
March
April
May
12, 729
13, 533
20,390
11,913
11,500
20,804
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production
thous. of dozen pairs..
Shipments
do—
Stocks, end of month
do
12,033
10,990
21,847
COTTON
Consumption
bales. 966,940
Exports (excluding Iinters)§
do__Imports (excluding linters)§.
___do__Prices received by farmers
dol. per lb.
.183
Prices, wholesale middling 15/W, average 10 markets
do._
.189
Production:
Ginnings (running bales)•---thous. of bales..
Crop estimate, equivalent 500-lb. bales
thous. of bales..
Stocks, domestic cotton in the United States,
totalcf
thous. of bales..
On fprms and in transited
do—
Warehouses...
do—
8,421
Mills.
do—.
2,340
12, 531
11, 933
26,183
12,900
12,889
26, 235
11,499
13,785
23,991
875,812
75, 236
26,108
.128
929, 782
61,110
17, 243
.143
874,113
34, 967
43, 322
.153
.138
.156
.161
504
11,974
13, 771
22, 236
14,107
14,977
21,409
10,240
12, 951
13, 506
21,194
966, 631 998, 754 957, 015
10,495
110,742
13,099
727
10, 528
1,844
12, 026
585
9,640
1,801
21, 628
10, 774
9, 233
1,621
20, 992
7,990
11,453
1,549
2,929
41,194
4,275
49,576
3,075
46,985
5,535
21.84
.088
.093
19.06
.078
.095
20.53
.080
.095
20.01
.080
.095
158, 569
125, 282
5,890
96,871
168, 211
134, 584
98, 704
171,667
132,177
6,113
97,283
22, 995
9,938
408
121.5
23,028
10, 537
433
123.0
23,029
10, 253
421
125.3
22,964
10, 407
429
123.7
23,043
11,232
463
125.8
23,069
9,901
409
129.4
23,063
10, 540
437
124.0
23,077
11,364
471
136.9
23,078
10,457
435
135.9
23, 096
11. 374
1473
134.3
.365
.433
.373
.433
.413
.475
.429
.481
.479
.385
.471
.395
.481
.414
.500
.413
.504
39.0
38.3
1,457
39.4
576
37.3
228
37.0
743
41.7
()
38.5
39.3
41.2
.550
5.8
.530
4.6
.530
3.6
.530
4.2
.542
4.9
.550
5.4
.550
4.5
.550
3.8
.550
4.8
24,251
3,895
28,528
2,347
2,069
332
4,685
1,003
4,160
()
5,676
3.019
3.049
3.080
()
53,008
(*>
57, 508
()
55,486
19,886
4,712
13,268
1,906
18,818
2,738
13, 915
2,165
20.45
.080
.094
20.34
.081
.095
()
13, 658
2,299
()
12,805
2,388
12,169
2,465 |
11,310
2,538
10, 358
2, 518
9, 364
2,481
20.30
.083
20.32
.086
.103
20.32
.087
.104
20.25
.088
.105
20.29
.089
.107
20.88
191, 654 194,328
145,169 148,023
5,338
6,010
88, 674 75,962
192,142
145, 423
' 5, 573
72,813
COTTON MANUFACTURES
Cotton cloth:
Exports§
thous. of sq. y d . .
Imports!.
do
Prices, wholesale:
22.15
Mill margins
cents per lb._
.090
Print cloth, 64 x 60
dol. per yd_.
.108
Sheeting, unbleached, 4 x 4
do
Finished cotton cloth, production:
Bleached, plain
thous. of y d . . 207, 506
147, 654
Dyed, colors
do
Dyed, black
do
5,196
Printed
-do
61, 287
Spindle activity:
Active spindles
thpusands.. 23,091
Active spindle hours, total
mil. of hrs_- 11,264
Average per spindle in place
hours...
469
Operations
percent of capacity..
133.2
Cotton yarn, wholesale prices:
22/1, cones (factory)
_._.
dol. p e r l b . .
40/s, southern, single, carded, Boston..do
.515
RAYON AND SILK
Rayon:
Deliveries (consumption), yarn*___mil. of lb__
Imports?
thous. of lb_Price, wholesale, viscose, 150 denier, first
quality, minimum filament*...dol. p e r l b . .
Stocks, yarn, end of monthj
.mil. of lb_.
Silk:
Deliveries (consumption)©
bales._
Imports, raw§
thous. of lb-.
Price, wholesale, raw, Japanese, 13-15 (N. Y.)
dol. per lb_Stocks, end of month:
Total visible stocks
bales
United States (warehouses)©
do
204, 606
53, 436
()
47, 208
185, 786 188, 594 170,132 180,792 192,229 176,227
138,437 143, 718 131, 727 126, 677 133, 624 126,465
6,369
7,116
6,042
6,750
8,547
6,553
98,757 98,297
78,572 91,674 82,267
83,791
3.080
. cro
108
23,100
11,463
476
135.3
23,121
11,193
465
138.4
.419
.506
.425"
.516.
.426
.515
36.0
40.0
37.6
37. €
.550
. 4.4
.550
4.1
.550
5.4
.550
'6.9
3.080
WOOL
63,010
61, 658
84, 759
72,008
Imports (unmanufactured)!
thous. of l b . .
Consumption (scoured basis) :1
39, 712 41, 764 61, 995
41,816
46, 605
43, 696 44,480 40, 972 53, 880 44, 740 ' 44, 320
Apparel classA
. . . d o — 53, 495
2,544
11, 256 11,212
11, 465
13, 980 10, 700 11, 708 5,828
11,260
4, 270
Carpet classA
do —
6, 555
388
5,784
Machinery activity (weekly average) i
Looms:
Woolen and worsted:
2,606
2,431
2, 754" ' 2, 789
2,523 * 2, 546 2,521
2,591
2,706
2,850
Broad
thous. of active hours..
2,616
2,602
86
86
90
93
94
93
89
78
89
86
Narrow
do
95
81
212
260
136
251
240
246
229
227
227
221
Carpet and rug
..do-..129
177
'144
Spinning spindles:
119, 562 110, 590 107. 780 117, 876 113,084 112,567 108,127 110,157 118, 654 117,130 116,996 125,659
Woolen
do
125,175
115, 281 125, 606 118,002 125, 902 123, 512 127, 257 122, 409 129, 890 120,806 101,015
Worsted
-do
99, 935 114,464 116,750
241
211
223
232
210
220
231
233
243
Worsted combs
do
231
233
231
239
Prices, wholesale:
1.05
1.06
1.07
1.08
1.08
1.11
1.13
1.14
1.20
Raw, territory, fine, scoured
dol. per lb-_
1.16
1.20
1.18
1.20
.46
.48
.49
.46
.49
.52
.49
Raw, Ohio and Penn.,
fleeces
do
.47
.52
.52
.50
.52
.49
Suiting, unfinished worsted, 13 oz. (at mill)
2.129
2.228
2.228
2.030
2.228
dol. per yd._
2.228
2.599
2.320
2.599
2.228
Women's dress goods, French serge, 54" (at
1.391
1.312
1.330
1.411
1.312
1.411
mill)
dol. per y d . .
1.411
1.411
Worsted yarn, ^ 2 ' s , crossbred stock (Boston)
1.700
1.740
1.763
1.800
1.675
1.800
1.638
dol. per lb-1.800
1.800
1.800
1.800
1.800
81, 232 61, 336 39, 704 26, 253 37, 571
82, 827
1.800
Receipts at Boston, total
thous. of lb__
9,661
11,735
42, 780 26, 570
17, 281
32, 837
9, 658
7,555
Domestic
.
do
30,043
14, 518 20, 280
38, 452 34,765
49,990
Foreign...
-do
()
l
' Revised.
• See note "<*", p . 37.
1941 crop.
2 D a t a discontinued.
§Data for 1939 revised; for exports, see table 14, p. 17 and for imports, table 15, p. 18 of the April 1941 issue.
• Total ginnirigs to end of month indicated.
^Data for July and October 1941 and March and June 1942 are for 5 weeks; other months, 4 weeks. No data were collected for the week December 28,1941, to January 3, 1942.
JMonthly data beginning January 1930, corresponding to monthly averages shown on p. 155 of the 1940 Supplement, appear on p. 18 of the April 1940 Survey.
*New series. For monthly data on rayon yarn deliveries beginning 1923, see table 41, p. 16 of the October 1940 issue. The new rayon price series replaces the data shown
in the 1940 Supplement; earlier monthly data are shown in table 30, p. 22 of the November 1941 issue. The new price series for cotton, which replaces the New York price
formerly shown in the Survey, is the average spot price of middling lH&" at 10 southern markets compiled by the Department of Agriculture; earlier data will be shown in a
subsequent issue.
d"Revised monthly data for August 1939-July 1940 will be shown in a subsequent issue.
©Beginning September 1941 certain amounts of raw silk were returned from mills to warehouses; these amounts are reflected in warehouse stocks and should be deducted
from the cumulative figures for deliveries. The number of bales returned were as follows: Sept., 542; Oct., 7,927; Nov., 2,717.
ABeginning 1942, domestic and duty-paid foreign wool are classified as apparel and all free foreign wools are classified as carpet. Formerly duty-free foreign wool not finer
than 40s used in press cloth, knit or felt boots, or heavy-fulled lumbermen's socks (incompletely reported prior to September 1941) was classified under apparel wool and the
carpet-wool classification included a small amount of duty-paid wool. Data for 1941 as shown in the Survey beginning with the April 1942 issue have been revised for comparison with 1942 data.
S-37
SURVEY OF CURRENT BUSINESS
August 1942
1941
Monthly statistics through December 1939, to- 1942
gether with explanatory notes and references
to the sources of the data, may be found in the
June
1840 Supplement to the Survey
June
July
August
September
1942
October
Novem- December
ber
January
February
March
April
May
TEXTILE PRODUCTS—Continued
WOOL—Continued
Stocks, scoured basis, end of quarter, total!
thous. of l b . .
Woolen wools, total
_ _ . _ do. .
Domestic .
do
Foreign
_
_
do
Worsted wools, total
do
Domestic
do
Foreign
_
_ do
191,556
65,508
35,304
30,204
125,652
57,334
68,318
208,345
62, 213
31,7S0
30,423
145,970
53,930
92,040
C1)
190, 780
71,971
35,862
36,109
118,539
41,680
76,859
0)
(0
(0
8
MISCELLANEOUS PRODUCTS
Fur sales by dealers
thous. of dol
Pyroxylin-coated textiles (cotton fabrics):
Orders, unfilled, end of mo..thous. linear yd.. 10, 638
Pyroxylin spread.
thous. of lb__ 4, 661
Shipments, billed.
thous. linear y d . .
6,CC9
5,323
4,779
5,349
4,297
1,441
790
564
2,828
6,308
5,704
4,895
9,558
7,464
7,479
8,070
6,473
7,543
10,038
7,142
7,703
8,747
7,097
8,017
9,009
7,488
7,841
8,206
6,698
7,097
7,825
6,637
7,398
7,112
6,181
6,745
7,584
5,659
6,464
7,797
5,403
6,652
7,300
5,669
6,689
13,023
5,532
6,394
TRANSPORTATION EQUIPMENT
Exports§
AIRPLANES
number.
C)
352
360
533
13,000
378
22,486
2,099
16,932
3,263
8,849
619
13,481
4,056
9,425
12,975
6,958
6,017
20,616
6,706
13, 910
15, 678
2,279
13, 399
448
1,253
253
1,067
234
325
806
209
171
176
178
AUTOMOBILES
Exports:
Canada:
Assembled, total
number..
Passenger cars
do
United States:
Assembled, total§
...do
Passenger cars§
do
Trucks§._
do
Financing:*
Eetail, passenger cars, total...Jan. 1942=100..
New cars
do
Used cars
...do
Retail automobile receivables outstanding,
end of month
Dec. 31, 1939=100..
Production:
Automobiles:
Canada, total
..number..
Passenger cars
do
United States (factory sales), total...do
Passenger cars
do
Trucks
do
Automobile rims
thous. of rims..
Registrations:J
New passenger cars
number..
New commercial cars
do
Sales (General Motors Corporation):
World sales:
By U. S and Canadian plants
do
United States sales:
To dealers..do
To consumers
do
Accessories and parts, shipments:
Combined index
Jan. 1925=100..
Original equipment to vehicle manufacturers
Jan. 1925=100..
Accessories to wholesalers
do
Service parts to wholesalers
do
Service equipment to wholesalers
do
(a)
(a)
CC4
11,144
1,052
11, 798
997
5,981
658
11,002
246
11,599
1,146
12, 222
546
9,723
611
14,444
941
196
419
142
201
483
133
179
429
118
196
463
132
100
100
100
63
22
73
73
46
81
58
42
62
56
60
55
170
164
157
149
139
128
116
105
95
14,466
19, 360 21,545 20, 313
25, 753 24, 654 17,192
3,849
2,548
6,651
8,538
3,160
5,635
7,003
520, 525 444, 243 147, 601 234, 255 382,009 352, 347 282,205
418,983 343, 748 78, 529 167, 790 295, 568 256,101 174, 962
101,542 100,495 69,072 66, 465 86,441
96,246 107, 243
2,024
2,309
2,061
1, 532
1,811
1,864
1 677
21,751
4,249
238, 261
147,858
90,403
1,271
20,181
3,989
134,134
52,200
81, 934
823
20,188
3,192
94, 510
6,216
88,294
669
64, 603
23, 356
19,177
10,311
443,470 391,795
62, 265 67,412
246, 595 125,293
56,191 43,892
165, 485 1C4,747 174 188
41,352 36, 799 41 006
[617
240, 748 224, 517
29,268
89, 300 17P, 120 171,412
224,119
235,817
204, 695
195,475
19, 690
84,969
81,169
52,829
258
242
246
282
286
270
281
225
279
140
231
229
248
154
253
221
258
160
242
216
271
170
298
290
280
174
302
287
271
173
267
286
174
297
255
265
144
229
217
)
139
231
201
141
234
202
130
205
198
128
174
183
1,736
1,661
1,666
1,671
1,676
1,682
1,689
1,694
1,701
1,709
1,718
1, 726
1,731
57
3.3
37, 891
25, 062
12, 829
85
5.2
91,416
69,140
22, 276
79
4.8
88, 266
66,641
21,625
78
4.7
89, 917
65, 814
24,103
73
4.4
86,943
63, 607
23, 336
68
4.1
78,974
57, 584
21,390
68
4.1
75,559
52, 563
22,996
62
3.7
73, 697
50, 661
23,036
61
3.6
66, 870
45, 798
21, 072
61
3.6
69, 402
49, 939
19,463
60
3.5
68, 316
47,985
20, 331
62
3.6
58,129
39, 804
18, 325
63
3.7
48, 351
31,440
16, 911
2,747
7.0
350
304
46
4,862
12.3
265
234
31
4,607
11.7
300
266
34
4,208
10.7
317
269
48
4,022
10.2
309
263
46
3,778
9.6
284
240
44
3,634
9.2
281
256
25
3,370
8.6
258
237
21
3,378
8.6
249
229
20
3,231
8.2
300
282
18
3,228
8.2
426
372
54
3,114
7.9
408
357
51
2,930
7.5
395
348
47
876
255
621
79
9
70
942
297
645
87
11
76
297
667
87
917
285
632
79
12
67
921
268
653
102
27
75
1,022
364
1,210
526
684
96
22
74
1,197
522
675
89
19
70
1,273
551
722
100
28
72
1,332
589
743
125
57
1,425
669
756
132
62
70
1,586
716
870
111
50
61
162, 543 153, 904
103,854 126, 281
RAILWAY EQUIPMENT
Association of American Railroads:
Freight cars, end of month:
Number owned
thousands..
Undergoing or awaiting classified repairs
thousands..
Percent of total on line.
Orders, unfilled
cars._
Equiprnent manufacturers..
do
Railroad shops
do
Locomotives, steam, end of month:
Undergoing or awaiting classified repairs
number. .
Percent of total online
Orders, unfilled
number._
Equipment manufacturers
do
Railroad shops
do
U. S. Bureau of the Census:
Locomotives, railroad:
Orders, unfilled, end of mo., total
do
Steamf
do
Otherf
do
Shipments, totalf
do
Stearnf
do
Otherf
do
1, 577
658
919
142
59
83
b
• The publication of detailed foreign trade statistics has been discontinued for the duration of the war.
Discontinued.
Because of changes in the classification of stocks, figures are not available on a comparable basis with data formerly shown. Stocks of wool finer than 40s, other than wool
afloat which is no lorjger available for publication, as of April 4, 1942, and approximately comparable earlier data are as follows (thousands of pounds): April 4, 1942—total,
166,132; domestic, 59,876; foreign, 106,256; December 1941—total, 142,378; domestic, 77,253; foreign, 65,125; March 1941—total, 104,679; domestic, 44,115; foreign, 60,564.
IDoes not include Australian wool held by the Defense Supplies Corporation. The total includes for June, September and December 1941 a comparatively small amount
of certificated wool in licensed warehouses not included in the detailed figures.
§Data revised for 1939. See p . 17 of the April 1941 Survey; sec also cote marked " § " on page S-S7 of the November 1941 Survey for explanation of revision in 1940 data on
exports of airplanes.
*New series. Beginning January 1942 the Bureau of the Census has discontinued the dollar series on passenger-car financing formerly shown in the Survey and has initiated a series of indexes on a January 1942 base on volume of paper acquired by sales finance companies, including passenger and commercial cars and diversified financing,
and has placed the series on retail automobile receivables on a December 31, 1939, index base. Indexes prior to January 1942 for passenger-car financing have been computed
by the Bureau of Foreign and Domestic Commerce from tbe former dollar series and linked to the new Census data.
fRevised to include both foreign and domestic data; earlier figures not published on p . S-37 of the January 1942 Survey are available on request.
FRASER
JData beginning June 1641 exclude Federal Government deliveries and are therefore not comparable with earlier data. See note " J," p . S-37, of December 1941 Survey.
1
Digitized for
SURVEY OF CURRENT BUSINESS
vS-38
Monthly statistics through December 1939, together with explanatory notes and references
tc the sources of the data, may be found in the
1940 Supplement to the Survey
1941
1942
June
August 1942
June
July
August
September
1942
October
Novem- December
ber
January
February-
Mar cb
April
May
TRANSPORTATION EQUIPMENT—Continued
RAILWAY EQUIPMENT-Continued
U. S. Bureau of the Census—Continued.
Locomotives, mining and industrial:
Shipments (quarterly), total*
number..
Electric total§
<^n
do
For mining use
Other*
do
American Railway Car Institute:
Shipments:
Freight cars, total.
.. do...
do
Domestic
Passenger cars, total
.
.. do....
do
Domestic
do
F xnorts of locomotives, total
do
Electric
rin
Steam
205
104
102
101
242
97
94
145
5,253
2, 851
23
23
5,136
5,130
12
12
25
10
15
5,537
5,467
37
37
28
21
7
3,936
3,856
32
32
22
15
7
5,168
5,044
38
30
25
14
11
7,617
6,626
28
28
266
238
28
232
225
7
247
236
11
260
253
7
323
306
17
173
79
73
94
177
84
71
93
207
102
99
105
6,378
6,073
42
42
7,183
7,181
35
29
6,240
6,240
42
42
7, 752
7, 652
24
20
7,781
7,781
28
28
7,957
7,273
10
10
7,573
5,700
41
41
298
280
18
271
261
10
330
327
3
309
303
6
371
336
35
400
383
17
384
373
11
C)
C)
INDUSTRIAL ELECTRIC TRUCKS
AND TRACTORSJ
Shipments, total
Domestic
.
Exports
number
.
do....
do
CANADIAN STATISTICS
Physical volume of business, adjusted:f
Combined index
1935-39=100..
Industrial production:
Combined index
.do
Construction
.do
Electric power
.do
Manufacturing
do
Forestry
.do
Mining...
do
Distribution:
Combined index
do
Carloadings
do
Exports (volume)
.do
Imports (volume)
...do
Trade employmentdo
Agricultural marketings, adjusted:!
Combined index
_
.do
Grain.. _
_
do
Livestock...
do
Commodity prices:
116.7
Cost of livingf
do
95.8
Wholesale prices
1926=100
Employment (first of m o n t h , unadjusted):
Combined index
...do
Construction and maintenance
do
Manufacturing
do
Mining
_
do
Service
do
Trade
do
Transportation
do
Finance:
Bank d e b i t s . . . .
mil. of d o l . .
46
Commercial failures
number..
Life-insurance sales, new paid for ordinary!
thous. of dol.- 43, 898
Security issues and prices:
283, 584
New bonds issues, totalf
do
98.8
Bondyieldsf
1935-39=100..
62.8
Common stock pricesf-do
Foreign trade:
Exports, total
thous. of d o l . .
Wheat
thous. of bu_.
Wheat
flour..
-thous. of b b L .
Imports
-thous. of d o L .
R ail ways:
Carloadings
_.
thous. of cars.Financial results:
Operating revenues
-thous. of d o l . .
Operating expenses
do
Operating income
_.
do
Operating results:
Revenue freight carried 1 mile.mil. of t o n s . .
Passengers carried 1 mile
mil. of p a s s . .
Production:
Electric power, central stations
mil. of kw-hr__
150
Pig iron
thous. of long t o n s . .
Steel ingots and castings
.do
227
Wheat flour..
thous. of b b L .
1,335
137.1
138.0
141.5
148.9
139.1
132.0
141.3
140.6
134.3
136.2
140.4
131.8
150.4
286.8
123.3
143.5
117.0
125.6
149.2
130.7
130.8
153.6
131.0
146.3
156.1
145.0
126.1
163.7
129.8
140.9
169.0
166.4
136.2
182.3
145.6
126.0
154.9
145.9
137.4
164.7
132.6
123.6
143.3
129.6
137.5
149.4
123.2
125.6
154.1
184.4
138.9
158.9
127.5
124.4
148.4
125.8
142.9
158.3
126.9
120.2
141.3
103.6
137.6
152.4
134.2
113.7
144.8
153.2
141.7
150.2
133.5
119.2
152.7
145.0
144.3
159.7
123.0
130.4
139.0
97.5
146.1
144.8
113.9
132.0
112.9
133.9
182.1
143.9
121.8
117.6
139.6
212.7
167.3
121.2
114.9
128.0
189.7
184.1
122.0
112.4
119.1
169.2
185.6
123.2
110.2
120.6
139.5
170.3
123.9
111.4
124.4
163.2
159.3
123.4
118.1
138.8
163.9
194.9
122.9
125.3
149.6
199.7
229.0
125.2
121.9
140.4
223.7
187.6
123.5
120.7
136.2
230.7
191.3
118.2
118.5
140.3
221.9
187.5
117.8
()
217.0
242.7
105.3
268.9
302.7
122.0
95.3
93.7
102.2
55.2
40.1
120.8
113.3
116.0
101.3
81.3
75.6
10P.1
129.4
129.3
129.8
136.3
110.4
112.3
93.9
70.6
100.9
81.6
74.9
110.8
84.8
84.2
87.0
83.7
84.3
80.9
110.5
90.1
111.9
91.3
113.7
92.1
114.7
93.4
115.5
94.0
116.3
94.0
115.8
93.6
115.4
94.3
115.7
94.6
115.9
95.1
115.9
95.0
116.1
95.2
152.9
139.5
168.0
177.2
170.9
156.8
99.2
157.4
149.9
160.6
160. 7
176.9
178.1
184.0
156.8
105.0
162.7
153.9
181.5
181.6
183.9
157.5
105.9
165.8
155.4
185.0
182.3
175.7
160.9
104.2
167.6
147.7
187.5
185.0
173.7
163.4
102.8
168.8
143.4
188.4
183.5
170.4
167.1
104.1
165.8
124.7
187.1
177.8
168.0
172.4
101.1
165.4
118.1
191.2
176.8
167.0
156.8
98.2
165.1
103.7
195.7
176.4
169.1
151.7
97.5
165.2
98.0
199.4
175.0
172.8
153.0
99.0
167.4
109.3
202.3
173.5
176.3
153. 5
104.1
3,427
3,231
77
2,893
64
4,177
56
3,733
46
36, 232
3,791
53
40, 336
.,044,077 145, 891
99.6
99.6
62.3
61.1
92,329
99.5
62.0
172. 5
176.8
179.8
158.5
103.7
3,150
67
3,301
45
33,670
3,242
58
32,681
29,597
33, 975
3,627
57
41, 740
44,984
3,687
78
47,172
43,081
39, 357
876,920
101.9
64.0
111,290
101.5
67.5
83,497
101.2
67.8
62,521
100.3
71.0
341, 680
100.2
69.1
94,851
99.1
68.8
91,985
99.3
67.2
90,326
99.4
66.8
90,092
99.3
64.7
146,822 170,901 150, 496 142,897 139,678
14, 721 11, 341 11,841
23,114
19,346
441
1,437
661
1,922
1,751
114, 924 127, 707 137, 913 136, 991 140,819
164,079
22,105
587
134,191
152,091
18,271
930
125,886
152,307
11,145
750
142,127
168,197
5,424
1,056
119,556
4,241
72
35, 876
176,950
9,765
899
144,886
119.0
142.3
235, 710
14, 537 26.851
1,128
922
142,113 147, 530
271
277
279
294
313
286
294
272
249
271
273
44,817
32,122
9,976
45,442
35,248
7,262
46, 524
35, 988
7,393
47,215
35,861
8,973
51, 239
37,304
11,483
48, 219
35,496
9,927
50,050
36,134
10,818
45,422
35, 111
7,789
44,044
35,281
6,046
50,858
37,338
10,036
50,597
36, 526
10,303
4,381
248
4,257
318
4,323
354
4,447
286
4,796
262
4,711
227
4,356
387
4,246
283
4,031
271
4,580
325
4,439
361
2,560
112
187
2,118
2,661
102
197
2,117
2,640
106
203
1,852
2,867
112
201
1,648
3,140
137
223
1,596
3,184
134
221
1,665
3,221
148
219
1,577
3,226
146
231
1,556
2,864
129
217
1,585
3,221
149
237
1,807
3,083
143
237
1,961
283
3,175
153
243
1,481
• The publication of foreign trade statistics has been discontinued for the duration of the war.
fData on life-insurance sales revised beginning September 1936; for revisions see p. 56 of the September 1940 Survey. For revisions of new bond issues for 1939 see p. 56
of the March 1941 Survey. All Canadian index numbers to which this note is attached have been revised to a 193.5-39 base; earlier cost of living data appear in table 35, p. 19
of the January 1942 issue. Common stock price indexes have been converted to the new base by multiplying the old series by a constant. The index of bond yields has been
completely revised and is now based upon yields of a 15-year V/i percent Dominion issue. The production and distribution indexes and indexes of agricultural marketings
have also been completely revised; revised data will be published in a subsequent issue. The index of grain marketings is based on receipts at country elevators instead of
receipts at head of Lake and Pacific ports, as formerly.
tBeginning with July 1940, data are reported by the Industrial Truck Statistical Association and cover reports of 8 companies. They are approximately comparable with
previous data which were compiled by the Bureau of the Census.
§Includes straight electric types only (trolley or third-rail and storage battery); data for 1939 and earlier years, published in the Survey, include some units of only partial
United States manufacture and are not comparable with data here shown.
*New series. Comparable data on total shipments are available only beginning January 1940. "Other" includes Diesel-electric, Diesel-mechanical, and gasoline or steam
locomotives; these are largely industrial; for data beginning with the first quarter of 1939, see p. 55 of the May 1941 Survey.
INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S38
CLASSIFICATION, BY SECTIONS
Monthly business statistics:
Page
Business indexes
-—
S-l
Commodity prices
S-3
Construction and real estate
S-4
Domestic trade
S-6
Employment conditions and
wages
S-7
Finance
- - - - S-12
Foreign trade
S-19
Transportation and communications
S-20
Statistics on individual industries:
Chemicals and allied products -_ S-21
Electric power and gas
S-2 3
Foodstuffs and tobacco
S-24
Fuels and byproducts
S-27
Leather and products
S-2 9
Lumber and manufacturers
S-2 9
Metals and manufactures:
Iron and steel
S-30
Nonferrous metals and products
S-32
Machinery and apparatus
S-32
Paper and printing
S- 33
Rubber and products
S-34
Stone, clay, and glass products _ S-3 5
Textile products
S-3 5
Transportation equipment
S-3 7
Canadian statistics
S-38
CLASSIFICATION, BY INDIVIDUAL
SERIES
Pages marked S
Abrasive paper and cloth (coated)
35
Acceptances, bankers'
13
Advertising
6
Agricultural cash income
i
Agricultural wages, loans
13
Air mail and air-line operations
6,20
Aircraft
.
1,2,9,11,12,37
Alcohol, denatured, ethyl, methanol
21
Aluminum
,.
32
Animal fats, greases
21
Anthracite
2,3,10,11,27
Apparel, wearing
3,4,6,9,11,36
Asphalt
28
Automobiles
1,2,3,6,8,9,11,12,37
Automobile accessories and parts
37
Banking
13,14
Bartey
24
Bearing metal
32
Beef and veal
26
Beverages, alcoholic
24
Bituminous coal
2,3,10,11,27,28
Boilers
31
Bonds, issues, prices, sales, yields
17,18
Book publication
34
Brass and bronze
32
Brick
.
35
Brokers' loans
14,18
Building contracts awarded
4
Building costs
5
Building expenditures (indexes)
4
Building-material prices
3
Butter.
24
Canadian statistics
15,37,38
Canal traffic
20
Candy
26
Capital
flotations
17,18
For productive uses
18
Carloadings
20
Cattle and calves
„
25
Cellulose plastic products
23
Cement
1,2,3,35
Chain-store sales
7
Cheese
24
Chemicals
1,2,3,4,9,11,12,14,16,21
Cigars and cigarettes
27
Civil-service employees
10
Clay products
1,2,8,9,10,12,14,15,35
Clothing (see also hosiery)
3,4,6, 8, 9,11,12
Coal
2,3,10,11,27
Cocoa
-__--._.
26
Coffee.-26
Coke
__
--28
Commercial failures
___
._
14
Commercial paper
.
13
Construction:
Contracts awarded
4
Costs
5
Highways and grade crossings
__.„__,,
5
Wage rates
13
Copper
32
Copra and coconut oil
22
Corn
.
25
Cost-of-living index
3
Cotton, raw, and manufactures
2,3,4,36
Cottonseed, cake and meal, oil
22
Crops
1,22,25,27,36
Currency in circulation
._
15
Dairy products
24
Debits, bank
__>_
.
13
Debt, United States Government.
16
Delaware, employment, pay rolls, wages _ 9,11,12
Department stores: Sales, stocks, collections.
7t 8
Deposits, bank—.
_.„„..
13, 14
Pages marked S
Disputes, industrial
10
Dividend declaration payments and rates.— 1,19
Earnings, factory, average weekly and
hourly
11,12,13
Eggs and chickens
„ . . 1,3,26
Electrical equipment
2,3,8,9,10,11,12,33
Electric power production, sales, revenues»_
23
Employment, estimated nonagricultural
8
Employment indexes:
Factory, by cities and States
.
9
Factory, by industries
8,9
Nonmanufacturing
10
Employment, security operations
10
Emigration and immigration
20
Engineering construction
4
Exchange rates, foreign
15
Expenditures, United States Government
16
Explosives
21
Exports
19
Factory employment, pay rolls, wages
8,
9,10,11,12,13
Fairchild's retail price index
3
Farm wages
13
Farm prices, index.,
3
Federal Government,
finances
16,17
Federal-aid highways and grade crossings
5
Federal Reserve banks, condition of
13
Federal Reserve reporting member banks
14
Fertilizers„__
21
Fire losses
.___
5
Fish oils and
fish
22,26
Flaxseed
22
Flooring
.
29
Flour, wheat _
25
Food products
__
_
1,
2,3,4,6,9,11,12,14,15,16,24,25,26,27
Footwear
1,2,4,9,11,12,29
Foreclosures, real estate
5
Foundry equipment
32
Freight cars (equipment)
«.
37, 38
Freight carloadings, cars, indexes
24
Freight-car surplus
20
Fruits and vegetables
3,24
Fuel equipment and heating apparatus
32,33
Fuels
2,3,27,28
Furniture
30,31
Gas, customers, sales, revenues
23
Gas and fuel oils
3,28
Gasoline
28
Gelatin, edible
27
General Motors sales
37
Glass and glassware
1,2,8,9,10,12,14,15,35
Gloves and mittens
29
Gold
15
Goods in warehouses
6
Grains
3,17,24,25
Gypsum
_
35
Hides and skins
28,29
Hogs
25
Home-loan banks, loans outstanding
6
Home mortgages
5
Hosiery
36
Hotels
20
Housing
3,4
Illinois, employment, pay rolls, wages
9,11,12
Immigration and emigration
20
Imports
19
Income payments
1
Income-tax receipts
...
16
Incorporations, business, new
6
Industrial production, indexes
1,2
Installment loans
14
Installment sales, department stores
7
Insurance, life
15
Interest and money rates
14
Inventories, manufacturers'
3
Iron and steel, crude, manufactures
__,.
1,
2,3,4,8,9,10,11,12,14,15,30,31
Ironers, household
33
Kerosene
28
Labor, turn-over, disputes
.
10
Lamb and mutton.._
.
26
Lard.
26
Lead
_ 2,32
Leather
1,2,4,9,11,12,14,15,29
Linseed oil, cake, and meal.-..
.
22
Livestock
25,26
Loans, real-estate, agricultural, brokers'
5,6,13
Locomotives
37,38
Looms, woolen, activity
36
Lubricants
__ .
__
28
Lumber1,2,3,8,9,10,11,12,29,30
Machine activity, cotton, wool
36
Machine tools
.__
8,9,10,11,12
Machinery.. 1,2,3,8,9,10,11,12,14,15,16,32,33
Magazine advertising
6
Manufacturers' orders, shipments, inventories
2,3
Manufacturing indexes
1, 2
Maryland, employment, pay rolls
9? 11
Massachusetts, employment, pay rolls,
wages
9.11,12
Meats and meat packing.-... _ 1, 2,3,9, llj 12,26
Metals
1,2,4,8,9,10,11,12,30
Methanol
21
Mexico, silver production
15
Miik___
.
.
24
Minerals
2,10,11
Naval stores
22
New Jersey, employment, pay rolls, wages. 9,11,12
Newsprint
34
Pages marked S
New York, employment, pay rolls, wages. 9,11,12
New York canal traffic
20
New York Stock Exchange
18,19
Oats....
25
Ohio, employment, pay rolls
9,11
Oils and fats
21, 22
Oleomargarine
_
23
Orders and shipments, manufacturers'
2
Paint sales
23
Paper and pulp
1,2,3,9,11,12,33,34
Passenger-car sales index
7
Passports issued
20
Pay rolls:
Factory, by cities and States
11
Factory, by industries
10,11
Nonrnanufacturing industries
11
Pennsylvania, employment, pay rolls, wages9,
11,12
Petroleum and products. 1,2,3,9,10,11,12,16,28
Pig iron
30,31
Porcelain enameled products
31
Pork
.
26
Postal business
6
Postal savings
14
Poultry and eggs
1,3,26
Prices (see also individual commodities):
Retail indexes
3
Wholesale indexes
3,4
Printing
.
1,2,9,11,12
Profits, corporation
„
16
Public relief
13
Public utilities
4,10,11,16,18,19
Pullman Co
21
Pumps
33,34
Purchasing power of the dollar
4
Radiators
31
Radio-advertising
_
6
Railways, operations, equipment, financial
statistics, emoloyment, wages..
_
1,
*2, i0,11,13,16,17,18,19,20,37,38
Railwas^s, street (see street railways, etc.).
Ranges, electric
33
Rayon
__. 1,2,4,36
Reconstruction Finance Corporation, loans.
17
Refrigerators, electric, household„
33
Registrations, automobiles
37
Rents (housing), index
3
Retail trade:
Automobiles, new passenger
6
Chain stores, variety (5-and-10), grocery,
and other
7
Department stores
.
7
Mail order
8
Rural general merchandise
8
Rice
-_
_
25
River traffic
..
20
Roofing asphalt
.
23
Rubber, crude, scrap, footwear, tires and
tubes
1,2,3,4,9,11,12,34,35
Savings deposits
14
Sheep and lambs
26
Shipbuilding
1,2,8,9,11,12
Shoes
- - - - 1,2,4,9,11,12,29
Silk
__
_ 1,2,4,36
Silver
_
15
Skins
28,29
Slaughtering and meat packing
1, 2, 9,11,12,26
Spindle activity, cotton, wool
36
Steel and iron (see iron and steel).
Steel, scrap, exports and imports
30
Stockholders
19
Stocks, department store (see also manufacturers' inventories)
8
Stocks, issues, prices, sales, yields
17,18,19
Stone, clay, and: glass products
1,
,- • #~ V ky m- -^-^^:2,8, 9,10,12,14, 15,35
Street railways and busses
10,11
Sugar
26
Sulphur
21
Sulphuric acid
21
Superphosphate
21
Tea
26
Telephone, telegraph, cable, and radiotelegraph carriers
,__ 10,11,16,21
Textiles
. . . 1,2,4,9,11,12,14,15,36,37
Tile
35
Tin
32
Tobacco
1,2,9,11,12,27
Tools, machine
8,9,10,11,12
Travel
_ 20,21
Trucks and tractors, industrial, electric
38
United States Government bonds
_
18
United States Government, finances. 15,16,17
United States Steel Corporation
19,31
Utilities
___ 4,10,11,15,16,18,19
Vacuum cleaners
33
Variety-store sales index
7
Vegetable oils
22
Vegetables and fruits
.
3,24
Wages, factory, and miscellaneous
10,11,12,13
War program and expenditures
16
Warehouses, space occupied
6
Washers, household
33
Waterway traffic.
_._.
20
Wheat and wheat
flour
25
Wholesale price indexes
3,4
Wire cloth
_.
32
Wisconsin, factory employment, pay rolls,
and wages
.
9,11,12
Wood pulp
4,33,34
Wool
__ ._
1,2,4,36,3?
Zinc
32
@FedFRASER