Full text of Survey of Current Business : August 1943
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AUGUST 1943
SURVEY OF
CUR ENT
US
UNITED STATES DEPARTMENT OF COMMERCE
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
AMOS E. TAYLOR APPOINTED
Director of Bureau
Announcement was made by the White House
recently of the nomination of Amos E. Taylor as
Director of the Bureau of Foreign and Domestic
Commerce.
Dr. Taylor has been associated with this Bureau
since November 1930. During these years he has
occupied many important posts, rising to the position of chief of the Division of Research and
Statistics before his present appointment. Specializing in the field of international finance and
economics, he has written extensively for economic
and scientific journals.
Before entering the Government service Dr. Taylor was Assistant Professor of Finance at the
University of Pennsylvania and Northwestern
University.
O. P. Hopkins, whose nomination as Assistant
Director was also announced by the White House,
entered the Bureau in 1911 as an editorial clerk.
He was appointed Assistant Director in 1920 and
Executive Assistant to the Director in 1941. For
several months past Mr. Hopkins has been Acting
Director of the Bureau.
At the same time Raymond C. Miller was appointed as Assistant Director. He has been a member of the Bureau since 1921, serving for 12 years
in the Western European Division. Returning to
this country in 1933, Mr. Miller was named foreign
trade adviser in the Agricultural Adjustment Administration, and the following year became Director of Export-Import Relations, Office of the
Special Advisor to the President on Foreign Trade.
In 1941 lie was appointed Chief Economic Analyst
of the B;TOMI anJ. As.^'tunt io the S:wT<»tary of
Coiiuiierci\ Since yd* Xovniibe-' he IIHF been
uiiccU)!* of the D^panumitV fiVld ,-ei /ice.
SURVEY OF
CURRENT BUSINESS
AUGUST 1943
Page
ECONOMIC HIGHLIGHTS
2
THE BUSINESS SITUATION
3
Revised Outlook for National Product and National Income in 1943
The Trend in Inventories
Construction
Transportation
NATIONAL PRODUCT AND INCOME IN THE FIRST HALF OF 1943.
4
4
6
7
9
SALES OF WHOLESALERS, 1929-43
15
INCOMES IN SELECTED PROFESSIONS
23
NEW INDEX OF RETAIL PRICES, 1939-43
28
STATISTICAL DATA:
Monthly Business Statistics
General Index
S-l
Inside back cover
Published by the Department of Commerce, JESSE H. JONES, Secretary, and issued through
the Bureau of Foreign and Domestic Commerce, AMOS E. TAYLOR, Director
Volume 23
Number 8
Subscription price of the monthly SURVEY OF CURRENT BUSINESS, 31.75 a year. Single-copy price: Monthly, 15 cents;
Foreign subscriptions, 32.50. Price of the 1942 Supplement is 50 cents. Make remittances only to
Superintendent of Documents, U. S. Government Printing Office, Washington, 25 D. C.
539303—43
1
1
SUEVEY OF CURRENT BUSINESS
August 1943
Economic Highlights
Manufacturers' Sales Still Below Peak
Strike Idleness Rising Sharply
Total shipments by manufacturers reached a record level of
$11.9 billion in February 1943, after adjustment for number of
working days, but have been lower each month since then.
While it is probable that part of the output lag may be due to
shifting production schedules arising from changing needs of
the armed forces, declining shipments of manufactured products
are symptomatic of more basic difficulties.
Idleness because of strikes in 1942 was at lowest level for over
a decade, averaging only 349,000 man-days per month. Thus
far in 1943, all months except February and March have
exceeded this average.
Since April, a large part of the increase in idleness is attributable to stoppages in both anthracite and bituminous coal fields.
In May, 1,275,000 man-days were lost, involving 625,000
BILLIONS OF DOLLARS
16
MILLIONS OF MAN-DAYS
8
THOUSANDS OF WORKERS
1
II2OO
MAN-DAYS IDLE
• DURING MONTH
(LEFT SCALE)
WORKERS INVOLVED IN STRIKES
IN PROGRESS DURING MONTH «s.
(RIGHT SCALE)
600
300
1940
1941
1942
1943
DO 43-4SI
1940
Manufacturers' Shipments, Adjusted for Number of Working Days.
1942
1943
Man-Days Idle and Workers Involved in Strikes.
Shortages of manpower, materials, and plant capacity are
being felt both by industries engaged primarily in producing
war goods and those producing civilian goods. Not even "war
industries" were able to maintain their average daily shipments
at the February peak level. Only major awar industry" which
showed consistently larger sales in the first 6 months of this
year was the automotive and equipment industry. Sales of
"nonwar industries" likewise have shown declines from February levels, particularly food and textile-mill products industries.
Gains in output can be expected in coming months, particularly
by "war industries," but size of the increases will depend on
more efficient use of our available manpower and supplies.
workers, over half as a result of the coal stoppage. It was the
first month since Pearl Harbor that more than a million mandays have been lost. Notwithstanding the war, more workers
were involved in strikes in May and June than at any time in
the past 15 years. In June, chiefly as a result of the slowness
of some groups of miners to return to work, idleness rose to
4,750,000 man-days averaging 5 days per worker involved.
Effects of a strike cannot accurately be measured by the percentage, usually very small, of time lost to total time worked
since this measure fails utterly to reflect any slowing down in
output of related industries for lack of materials or parts cut
off by the stoppage.
Export Balance Reflects Aid to United Nations
Our export balance continues
OF DOLLARS
to increase in reflection of grow- MILLIONS
1400
ing supplies of materials available for export and of ship space
for carrying them. For first 6
months of 1943, the export
balance has averaged $658 millions per month or nearly double
the $332 millions for the comparable 1941 period. In May
for the first time on record, and
again in June total exports
including reexports, amounted to
over a billion dollars (the April
figure on the chart includes
shipments valued at $160 millions exported in January, February, and March). General imports in June amounted to $307
oL
millions, the highest monthly
total for 1943.
Value of Exports, Including
Of total May exports, $822
millions
represented
shipments
of
1941
Reexports, and General Imports.
lend-lease goods. Since the inception of the program through
May, lend-lease exports have accounted for $9.1 billions, or approximately 53 percent of total
exports.
These export-import statistics
fail to present the complete picture. Export data take no account of shipments to our armed
forces. Import data neglect the
amount of foreign goods made
available to Americans by reverse
lend-lease. True present significance of export data can be
found only in the parts played
by American materials on foreign
battlefronts and in the economies
of the United Nations while that
of import data will be found in
importance of individual imported commodities in the war
effort.
SURVEY OF CURRENT BUSINESS
August 1943
The Business Situation
T
HE dramatic collapse of Mussolini and his Fascist
Party and the imminent capitulation of Italy
must be classed, so far as their potential economic
effects are concerned, as the leading developments of
July. They are significant in throwing more light on
the probable length of the European phase of the war
and, more remotely, of the Pacific phase also. They
usher in the phase of occupation of enemy homelands.
Each such territory wrested from the German-dominated Axis economy and brought into relationship with
the economies of the United Nations deprives the enemy
of its resources and makes them available in some
degree to the victorious powers. But such a conquest
also relieves Germany of certain strains and imposes
them upon the United Nations. Hence, the Italian
debacle may well have important repercussions on the
American economy because as a war economy it is
subject to developments on the battlefield. The break
in the stock market reflected, in part, the interpretation of the Allied victories in Italy as bringing closer
the period of reconversion of industry to peacetime
operations.
mains, however, that in the first 7 months of this year,
industrial production, as measured by the present
Federal Eeserve index, gained only about 4 percent,
whereas in the comparable period of 1942, just after
Pearl Harbor and notwithstanding the slowing down
due to industrial conversion to war, production rose
about 7 percent.
Of the billion-dollar drop in July war expenditures
from the June level, about half a billion was due to
adjustments in Treasury accounts which raised June
expenditures, shown in chart 1, in an unusual manner
by that amount. A small part of the decline is accounted for by the sharp decline in war construction
(which is discussed at more length on a later page in
this section). The remainder of the war expenditure
drop, however, points to a continuation of the lag that
has been retarding munitions output in recent months.
This prolonged retardation of output at a level far
below the peak required by our war effort, sharply
emphasizes the redoubled efforts that must be made on
the home front in the months immediately ahead if
the needs of the armed forces as reflected in munitions
production schedules are to be met. Additional manChart 1.—Budget Expenditures of the Federal Government power must be recruited over and above the withfor War Activities
drawal of many thousands more by the armed forces.
BILLIONS OF DOLLARS
Directly or indirectly, this additional manpower can
8
be obtained only at the expense of the civilian economy.
Despite cheering news from the fighting fronts, there/
fore, civilians have still to make their maximum
6
sacrifices and contribution to the war effort.
During the first half of this year, consumer incomes
/
4
and expenditures have continued to advance rapidly.
The marked contrast between the continued rise in the
flow
of funds and the lag in industrial production re/
2
mains one of the most significant features of the
current economic situation. Detailed discussion of the
^ ^
, , ^
0
swift
rise in national income and consumer expenditures
1943
1940
1941
1942
0.0 43 -250
during the first half of 1943 will be found in a special
Source: U. S. Treasury Department (Daily Statement).
article on page 9 of this issue.
Consumers, with plenty of money to spend, are still
spending
it freely. June total retail sales, seasonally
Nothing would be more unfortunate on the home
adjusted,
were at a high level exceeded only by that
front, however, than universal acceptance of the idea
of
last
February
when the scare buying of shoes and
that the war is all over except for the shouting—
other
apparel
set
an
all time peak. Buying of apparel
especially since domestic economic developments hardly
warrant the same rejoicing as the victories of our was also a chief factor in raising June retail trade to
armed forces abroad. The increase in strikes is cer- its high level. Part of this was due to shoe purtainly inappropriate in a war economy. The June chases when the second shoe ration stamp became
decline in industrial production, which was largely due usable. It may be noted in passing that consumer
to the slump in coal and iron and steel output, appears expenditures for apparel during 1941 and 1942 were
upon the basis of evidence available in early August in step with the rise in income but not ahead of it.
to have been largely reversed in July. The fact re- During the first half of 1943, however, consumers have
r [ l l |
r
1 1 . 1 . 1 1 1 1 1 1
SURVEY OF CURRENT BUSINESS
spent more for apparel than would be expected on the
basis of their incomes. Merchants have been able to
meet this demand only by drawing down inventories.
For the year as a whole, it is probable that about oneeighth of consumer purchases of apparel in 1943 will
come from inventories. (A detailed discussion of the
entire inventory situation will be found later in this
section.)
By the end of the year, stocks in all hands (manufacturers, wholesalers, and retailers) will be down to a point
where any further reduction could occur only if merchandising methods were very substantially altered.
Consumer incomes, even after deduction of currently
paid income taxes, are expected to go on rising. Hence
it is clear that if consumers continue to attempt to
spend more for apparel than would be proportionate to
their income, either production must be stepped up or
some method of distributing the available supply equitably must be put into effect. Undoubtedly voluntary
limitation of purchases by each consumer would be the
best method if it can be made effective.
August 1943
The Trend in Inventories
Business inventories have been gradually liquidated
during the past 12 months. Reaching a peak level of
29.3 billion dollars in June 1942, inventories of manufacturers, wholesalers, and retailers were reduced by
2.5 billions in the 12-month period ending June 30 of
this year. Ever-increasing demands for goods, both
by the armed forces and civilian population, could be
met only so long as there were unutilized resources to be
employed. During 1941 and the first half of 1942,
business concerns were not only able to satisfy most
Chart 2.—Business Inventories at End of Month
BILLIONS OF DOLLARS
20
16
MANUFACTUi?ERS—^S
12
. — '
a
RETAILERS-^
Revised Outlook for National Product and National
Income in 1943
In the light of the actual performance of the economy
in the first 6 months of the year some retouching of the
1943 forecasts published in the March SURVEY is called
for. The assumptions on which these forecasts are
based should again be noted. It is assumed that no
further price rise will occur and that tax laws as at
present enacted will remain in force. While the latter
assumption may conform to actual events, the former
is clearly hypothetical, and the individual reader will
have to modify the forecasts here presented in the light
of the price increases which he anticipates.
In view of the lag of war production, total Government expenditures are likely to fall short from, rather
than exceed, the 100 billion level mentioned in the
March SURVEY. Owing to the price rise that has
occurred since the beginning of the year and the failure
of real consumption to decline, consumer expenditures
for the year may top 88 billion dollars rather than 77
billion as previously estimated. Private gross capital
formation for the year will be negligible. The national
product of about 185 billion dollars is expected to
generate a national income of over 147 billions, and
income payments of about 142 billions, both forecasts
being about 5 billions higher than those given in March.
On the basis of present tax legislation, including that
enacted earlier this year, personal taxes may absorb as
much as 17 billions of this sum. With roughly 88
billions spent on consumption, a figure somewhere in
the vicinity of 37 billions is left for individual savings.
This is below the estimate given in the March SURVEY,
the reduced level of savings being due partly to higher
taxes but chiefly to larger consumer expenditures than
were originally expected.
^
>—
- ^ — . - • * •
4
1
0
^WHOLESALERS
. 1 1 i . ! 1 1, i , 1 1 1 II 1 1 1 I 1 1 . 1 1 ! I 1 1 1 1 1 1 1 1
g?
1939
1940
1943
1941
O.D. 43-423
Source: IT. S. D e p a r t m e n t of Commerce.
demands but also succeeded in adding to their stockpile
out of current production. As full utilization of all our
resources w^as approached, it became clear that a more
stringent control of the flow and distribution of materials was necessary to get an economic distribution of
supplies for maximum output. Inventory accumulation thus gradually came to a halt and the application of
various controls, together with increasing shortages
of supplies, were reflected in the inventory liquidation
of recent months.
Table 1.—Value of Business Inventories
[Millions of dollars]
End of month
Manufacturers
1938—December.
1939—December
1940—December.
1941—December.
1942:
January
February
March
April
May.
June
July
August
September..
October
November..
December...
1943:
January
February
March
April
May._
June
Source: U. S. Department of Commerce.
Wholesalers
Retailers
Total
9,994
10, 659
11, 920
15, 747
3,319
3,549
3,730
4,697
4,882
5,117
5,549
6,637
18,195
19, 325
21,109
27,081
16, 096
16, 201
16, 464
16, 603
16, 939
17, 183
17, 317
17, 392
17,439
17, 547
17, 682
17, 652
4,833
4,867
4,899
4,812
4,674
4,632
4,475
4,345
4,245
4,029
3,956
3,992
6,620
6,700
7,087
7,472
7,565
7,496
7,439
7,357
7, 350
7,275
7,090
6,384
27. 549
27, 768
28,450
28, 887
29, 178
29,311
29, 231
29, 094
29,034
28, 851
28, 728
28, 028
17, 676
17,440
17, 386
17,433
17,460
17,219
3,991
4,026
4, 051
3,994
4,002
3,882
6,116
5,945
6, 106
5,935
5,947
5,738
27, 783
27,411
27, 543
27, 362
27, 409
26, 839
SURVEY OF CURRENT BUSINESS
August 1943
Wholesalers were the first to draw down their stocks
in response to the unprecedented orders placed with
them both by retailers and producers. Dollar volume
of wholesale inventories reached a peak in March 1942,
but by the end of the year were reduced by more than
one-fifth. Thus at the beginning of 1943, holdings of
wholesalers were back to 1941 levels in dollar terms, and
below the levels of that year in unit volume. During
the first 6 months of this year, however, wholesale
stocks have been at a plateau, despite the fact that
sales were above a year ago. This indicates that current inventory levels probably cannot be reduced significantly in relation to sales without drastically
changing the methods of doing business.
Retail inventories began to decline in June of 1942
and have been declining steadily ever since. In relation to sales, retailers had accumulated abnormally
large inventories in 1941 and early 1942. But these
inventories are now being drawn upon to supplement
the reduced flow of incoming goods. Furthermore,
continued consumer demands will make further liquidation inevitable. During the first 6 months of this
year the value of retail inventories dropped by over
650 million dollars and an equal drop is expected in the
latter 6 months.
1
Table 2.—Value of Manufacturers Inventories
[Millions of dollars]
distribution of material holdings of manufacturing
plants. This together with the tighter situation in
supplies resulted in a relatively stable level of inventories in the past 6 months. Manufacturers' inventories
on June 30 were over 400 million dollars below the
beginning of the year level.
Table 3.—Manufacturers' Inventories by Stages of
Fabrication *
[Millions of dollars]
End of month
1938—December.....
1939—December ._
1940—December
1941—December . . . .
1942:
January
February
March
.
April
May.
June
July
August
September
October
November
December
1943:
January
February
March
April
May
June
Raw materials
Goods in
process
Finished
goods
Total
4,075
4,515
4,936
7,085
1,569
1,889
2,464
3,951
4,350
4,255
4, 520
4,711
9,994
10, 659
11,920
15, 747
7,228
7,365
7,523
7,570
7,748
7,841
7,881
7,890
7,987
8,219
8,260
8,290
4,013
4, 053
4,177
4,203
4,264
4,334
4,375
4,477
4,531
4,543
4,687
4,765
4,855
4,783
4, 764
4,830
4,927
5,008
5,061
5, 025
4,921
4,785
4, 735
4,597
16, 096
16, 201
16,464
16,603
16,939
17,183
17, 317
17,392
17,439
17, 547
17,682
17, 652
8,112
7,982
7,945
8,031
8,148
8,057
4,908
4,955
5,016
5, 070
4,930
4,813
4, 656
4, 503
4,425
4,332
4, 382
4,349
17, 676
17, 440
17,386
17,433
17,460
17,219
1
Classification by stages of fabrication is as reported by manufacturing companies
and does not necessarily reflect economic stages of fabrication.
Source: U. S. Department of Commerce.
A sharp contrast may be observed in the movement
of
manufacturers' inventories between the durable and
NonduraDurable
End of month
Total
ble goods
goods
nondurable goods industries. The durable goods industries include the heavy war industries such as iron
1938—December.
4,646
5,348
9,994
1939—December.
5,046 j
5,613
10, 659
and steel and their products, machinery, and transpor1940—December.
6,021 !
5,899
11,920
1941—December.
8,140 j
7,607
15, 747
tation equipment industries. These industries have
1942:
January
8,308
16, 096
7,788
shown
a continued expansion in activity and have
February,--16, 201
8,383
7,818
March
16, 464
7,959
8, 505
required
additional inventories to support the higher
16, 603
April
7,948
8,655
8, 120
8,819
16, 939
May._._
levels
of
production.
Thus their inventories continued
8,222
8,961
17,183
June
8,236
9,081
July
17, 317
to
expand
throughout
the year 1942 and fche first 5
8, 208
9,184
August
17, 392
8,120
September. __
9. 319
17, 439
months
of
this
year
although,
as in the case of their out8,080
October
9,467
17, 547
8,052
November. _.
9,630
17, 682
put,
at
a
declining
rate.
Their
inventory accumulation
7,911
December
9,741
17, 652
1943:
in
1942
amounted
to
1.5
billion
dollars, whereas in the
9,797
7,879
January
17, 676
9,719
7,721
17, 440
February.
first
6
months
of
this
year
it
was
only 50 millions. In9,769
7,617
17, 386
March
9,900
7,533 |
17, 433
April
ventories
of
the
nondurable
goods
industries, on the
9,900
7,560 !
17, 460
May._..
9,787
7,432 I
17,219
June
other hand, have been declining steadily since the middle
of last year. Most of the goods destined for civilian
Source: U. S. Department of Commerce.
use are produced by these industries, and growing
Increased activity of the "war" manufacturing indus- scarcities of such goods account for a reduction in inventries in 1942 necessitated additional inventories of raw tories of almost 800 million dollars in the 12-month
materials, and resulted in further piling up of goods-in- period ending July 1 of this year.
process. This tended to raise inventories of manufacEvidence bearing on the progress made in achieving
turers despite the fact that many controls were applied a better control of the flow and distribution of materials
toward minimizing them. Thus during 1942 manufac- is obtained by comparing the stock position at different
turers increased their total inventories by 1.7 billion stages of fabrication. In 1941 and 1942 manufacturers
dollars with the rise in "war" inventories more than substantially increased their stocks of raw materials
offsetting the decline in stocks destined for civilian use. partly because of increased requirements to meet
This year, however, the various governmental controls, expanding production schedules and partly as a protecparticularly with respect to the use and distribution of tive measure in anticipation of future shortages. Since
critical materials, were reflected in a better and more even the end of 1942 stocks of raw materials have tended to
6
SURVEY OF CURRENT BUSINESS
August 1943
decline, and by the middle of this year they were 230 tion from production of plant to production of material
million dollars below their value at the beginning of the becomes more pronounced. If, as expected, new conyear. Contributing to this reversal in trend was the struction expenditures during the second half of 1943
fact that available materials were getting scarcer rela- run between 3.0 and 3.5 billion dollars, the total for
tive to production needs.
1943 will approach 8 billion. Such a volume will be
Goods-in-process inventories, on the other hand, a marked reduction from the 1942 and 1941 levels
have risen continuously this year in line with but will still exceed construction in most years prior
production. The addition of 50 million dollars made to 1941.
in the first 6 months of this year, however, w^as only
one-seventh of the amount added during the first 6 Table 4.—New Construction Activity, Continental United
States, First Half 1943
months of 1942. While this development would indicate better scheduling of production, it is to be noted
Value
(millions
Percent
Percent
that it is consistent with the declining rate of gain in
of
change
change
Item
dollars), from first from second
output of manufacturers in recent months.
first half half 1942
half 1942
1943 v
Since the outbreak of war in 1939, finished goods
- .. _
_
inventories held by manufacturers were fairly stable Total new construction
4,524
-24.1
-40.4
when compared with the gains made in other inventory
-37.7
718
-58.4
Total private
- Residential building (nonfarm) *
.
334
-64.4
-36.0
holdings. There was a tendency in the 8 months followNonresidential building:
49
Industrial.
_ . . . . -69.0
-68.8
ing our entry into the war for these inventories to in-44.6
31
-80.1
Another
Farm construction:
crease. The increasing pressure for immediate delivery
-63. 2
21
-63.2
Residential
-31.7
28
-30.0
NonresidentiaL
and increasing shortages in many lines, however, re-20.3
255
-32.0
Public utility
sulted in a declining trend in finished goods stocks since
-40.9
Total public
3,806 |
-10.1
Residential
+17.3
428 j
+82.1
July 1942. During the first 6 months of this year these
Military and naval 2_
-48.6
1,715 I
- 8.4
Nonresidential2 building:
I
inventories were reduced by 250 million dollars.
-35.7
Industrial
1,382
-3.7
Construction
Total new construction activity in continental
United States during the first 6 months of 1943 is
estimated at 4,524 million dollars. This was 24
percent below the total for the same period in 1942
and 40 percent below that of the second half of 1942.
Chart 3.—New Construction Activity
in Continental
United States 1
BILLIONS OF DOLLARS
5
1939
1940
1941
1942
1943
D.D 43-236
Data do not include work-relief construction.
Sources: U. S. Department of Commerce, War Production Board, and U. S.
Department of Labor.
The June 1943 volume of construction was only 722
million dollars as compared with the August 1942
peak of 1,486 million. (Estimates of the volume of
construction activity for each of the last 13 months
appear on page S-4 of the statistical section.)
Further sharp declines can be anticipated during
the
remainder of the year, particularly as the transi
All other
Highway
Sewage disposal and water supply
All other Federal
Miscellaneous public service enterprises._
17
171
29
52
12
-81.7
-45.9
-50.0
-72.3
-68.4
-62.2
-51.3
-42.0
-57.4
-40.0
1^Preliminary.
Data for private nonfarm residential building were prepared by the Bureau of
Labor Statistics.
2 Based on data prepared by the Construction Research Section of the Bureau of
Planning and Statistics of the War Production Board.
Source: U. S. Department of Commerce.
The decline in total construction has been paced
by the fall of the two dominant components: Military
and naval construction and publicly financed industrial
building. Expenditures on these components were
3,097 million dollars in the first half of 1943, a decline
of only 6 percent from the corresponding period in
1942, but 44 percent below the second half of that year.
The significance of the sharp fall in these two components directly related to the war effort is reflected
clearly in their relationship to total war expenditures.
Together they accounted for about 20 percent of total
war expenditures in the first three quarters of 1942,
less than 14 percent in the last quarter of that year,
9 percent in the first quarter of 1943, and only 6 percent
in the most recent 3-month period. Except for completion of work already started and for spot projects
that are found to be necessary for some particular phase
of the war effort, the relative importance of these two
components may be expected to be further reduced.
Despite the sharp curtailment of military and naval
construction and of publicly financed industrial building, these two components still constituted more than
61 percent of total activity in June 1943. Nonfarm
residential construction, which has been rising slowly
in recent months, made up over 21 percent and all
other types of construction constituted the remainder.
SURVEY OF CURRENT BUSINESS
August 1943
February 1943 marked the turning point in the
clearly defined shift that has occurred during the last
3 years in the means of financing new construction.
The ratio of privately financed construction, which
fluctuated in 1939 and 1940 between one-half and
two-thirds of the total, dropped below 50 percent for
three of the four quarters of 1941, and by the end of
the first quarter of 1942 it was less than one-third.
This ratio continued to decrease until February 1943,
when less than 14 percent of all new construction was
privately financed. It then began to increase so that
by June it exceeded 20 percent of the total.
The most important factor affecting the level of
future construction activity will be the decisions of
the central facility clearance agencies of the War
Production Board. In the reorganization of May 24,
two committees were set up to review all construction
except "command construction/7 One concentrates
on industrial projects and the other on nonindustrial,
with the objective of reviewing the essentiality of
projects already approved and passing upon proposed
new ones. The scrutiny of command construction,
which includes those projects ordered built by the
Chief of Staff, U. S. Army, or by the Chief of Naval
Operations, U. S. Navy, such as airfields, ports, military
hospitals, and fortifications, is delegated to the military
branches.
Transportation
The striking feature of the transportation industry
during 1943 is the continued increases in all forms of
transport, but at an ever-slackening rate. The coal
strikes, the spring floods, the leveling-off of industrial
production—these and other factors tended to dampen
the increases in the total volume of transportation in
the first 6 months of this year from the more rapid
rate of gain in 1942. The Department of Commerce
transportation index for the first half of 1943, adjusted
for seasonal variations, was at 210 (1935-39 average
Table 5.—Volume of Transportation, 1941-43
Indexes (1935-39 = 100)
Percent increase
Type of transportation
1941
Total all types
Total, excluding local transit.
Commodity
Railroads
Intercity motor (for hire) Air
Water-borne (domestic) _.
Oil and gas pipeline
Passenger
Passenger, excluding local transit
Railroads
Intercity motor bus
Air
Local transit
1942
1943
1941 to
1942 to
142
146
179
185
216
222
21
20
147
146
172
205
124
129
177
194
190
352
73
140
204
222
220
564
71
168
15
15
16
59
-3
20
126
143
133
143
294
112
183
236
244
214
291
138
255
358
387
308
305
170
45
65
83
50
—1
23
39
52
58
44
5
23
1
1943 data are based on the actual performance for the first six months and estimates for the remainder of the year.
U. S. Department of Commerce.
DigitizedSource:
for FRASER
= 100), an increase of 10 percent above the last half of
1942. This increase was only two-thirds the increase
from the first to the. jecond half of 1942. The same
rate of leveling-off occurred in both the passenger-mile
and ton-mile index (see table 5).
Table 6.—Volume of Transportation, Semiannually, 1942-43
Indexes, seasonally adjusted (daily average
1935-39=100)
Type of transportation
1942
First
half
Total
Percent increase
First
Second
half
half
1942 to 1942 to
first
Secsecond
First, ond
half
half
halfi half
2 1942
1943
1943
Second
half
166
210
222
172
197
216
229
15
Commodity
Railroads
Intercity motor (for hire)_.
Air
Water-borne (domestic)
Oil and gas pipe line
168
182
174
293
85
134
187
205
205
405
61
146
200
219
217
517
69
156
208
225
223
612
72
190
11
13
18
38
-28
9
Passenger
Passenger, excluding local
transit
Railroads
Intercity motor bus
Air
Local transit
161
205
240
270
27
200
194
196
337
129
272
295
230
260
148
338
368
283
304
160
379
406
334
306
180
36
52
17
-23
15
Total,
excluding
transit
First
half
1943 to
second
half
1943
local
4
3
3
18
4
22
12
10
18
0
12
1 June partially estimated.
2
Estimated on the basis of trends and factors operating in the industry.
Source: U. S. Department of Commerce.
The principal factors that will influence activity
from now on are manpower and equipment. If these
and other factors operating in the various fields of
transport are taken into consideration, indications
point to a continuation of the trends shown in the
past 12 months throughout the remainder of the year.
It is estimated that the total index including both
passenger and commodity transport will reach an
average of 222 for the second half of this year on
a seasonally adjusted basis—-6 percent above the first
half. Also, seasonally adjusted, the commodity and
passenger indexes will show increases above the first
6 months of this year of 4 and 13 percent, respectively.
Thus for 1943 as a whole, the total volume of transportation is expected to be 21 percent above 1942,
while the commodity and passenger volumes are
expected to rise 15 and 39 per cent, respectively.
Rail.
Railroad revenue ton-mile statistics show the first
half of this year to be 22 percent above the same period
last year, but the month-by-month comparison shows a
definite downward trend in the rate of increase. It is
expected that the second half of 1943 will be 8 to 10
percent above 1942, resulting in a performance of
around 730 billion ton-miles for the year, or an increase
of 50 billion above the 1942 record.
The performance of the railroads in bringing oil to the
East coast has been an outstanding achievement, reaching a volumo of 1 million barrels a day. With the
opening of the "Big Inch" pipeline to the East coast,
most of the tank cars will be diverted to the long haul
8
SURVEY OF CURRENT BUSINESS
from Texas directly to the East. Although railroads
lost around 10 million tons of coal traffic due to the
strikes, it is likely that this can be made up with the
miners back at work and a general observance of the
6-day workweek.
Chart 4.—Volume of Transportation 1
(INDEX, DAILY AVERAGE 1935-39 « 100)
250 •
RAIL, COMMODITY
INTERCITY MOTOR
TRUCK "FOR HIRE"
•V,
7
RAIL, PASSENGER
AIR, PASSENGER
INTERCITY MOTOR BUS
^1942
200
^
\
oo«oOOo».o
15 40
n
DOMESTIC WATERBORNE,
COMMODITY
LOCAL TRANSIT,
PASSENGER
OIL AND GAS
PIPE LINES
\
1942^
"Is*
i Indexes for commodity and passenger traffic (except local transit) are based upon
ton-miles and passenger-miles, respectively; index for local transit is based upon
number of passengers.
Source: U . S. Department of Commerce.
Despite continued appeals by the Office of Defense
Transportation and the railroads themselves to limit
passenger travel to essential needs, the transportation
of passengers as registered by passenger-miles has
continued to show unprecedented increases—the first
half of 1943 was about 90 percent above the same period
of 1942. Here too it is not expected that these gains
can continue at such a rate with the present manpower
and equipment situation. The indications are that
passenger-miles in 1943 will total about 85 billions, an
increase of around 57 percent above last year.
Motor.
The greatest problem facing the "for hire" tracking
industry is the manpower shortage which is estimated
at about 35,000 drivers, clerks, and others. Following
closely behind the manpower problem is equipment,
lack of which is expected to be extremely critical this
year.
The American Trucking Association has placed
August 1943
requirements of Dew trucks and trailers at over 128,000.
The equipment outlook is more hopeful as the result of
steps taken by the Office of Defense Transportation to
get the War Production Board to release materials for
the manufacture of almost 114,000 units from now on
through 1944. The repair parts situation, which is
extremely tight at present, should be somewhat eased
in the latter part of the year due to relaxation of the
War Production Board ban on parts production. Thus,
any further increases in truck performances in 1943
must be achieved in a large measure by further increases
in efficiency. Some increases are possible, however, by
the discontinuing of some nonessential services, the
embargoing of certain classes of merchandise, and
further elimination of duplicating routes.
A somewhat brighter picture faces the intercity
motorbus operators, although here too the manpower,
equipment, and supplies problems are acute. However,
the truck tire supply is much better than was expected.
Passenger revenues for the first half of this year were
about 50 percent above last year and operators expect
the second half to be even more favorable. The mileage
cut of 20 percent in the gasoline-starved Eastern area
will be offset by an increase in passengers and by the
relaxation of the mileage cut in the cases of justified
appeals by some operators. Passenger-miles should be
about 45 percent higher in 1943 than in 1942.
Air.
Air transport continued to make outstanding gains.
Express and mail pound-miles are reaching new highs
each month. Present indications point to an increase
in air commodity traffic in 1943 of about 60 percent
above the 1942 high record. At the same time, passenger traffic has advanced above 1942. The current
estimate is for a 5 percent gain over last year. This
excellent showing in both air freight and passenger
traffic is being achieved despite the pressing need for
more equipment and despite the same manpower
problem which faces all industry.
With no new equipment in immediate prospect, and
a reduction of some 40 to 50 percent in the total number
of planes through diversion to the Army, the airlines
are operating their remaining ships at nearly 90 percent
of capacity. This has been accomplished by discontinuance of unprofitable flights and a greater proportion
of long-haul freight traffic. Manpower is becoming
more critical, especially in the maintenance departments. These departments assume added importance
in making it possible for the airlines to keep their inadequate number of planes almost continuously in service
to meet present-day demands.
Pipe Line.
The volume of pipe-line traffic increased 10 percent
during the first half of 1943 over the same period last
year. This increase can be attributed almost entirely
to the record-breaking oil movement to the East coast
(Continued on p. 27)
SURVEY OF CURRENT BUSINESS
August 1943
National Product and Income in the
First Half of 1943
By George Jaszi, National Income Unit, Bureau of Foreign and Domestic Commerce
Editor's Note.—National Income and National Product in 1942 were discussed by Milton Gilbert and George
Jaszi in the Survey of Current Business, March 1943
issue. Detailed notes to the statistical tables can also
be found in that article.
T
HE major trends which were manifest in the
American economy during 1942 continued in the
first half of 1943. Gross national product, the aggregate value of currently produced goods and services
flowing to government, to consumers, and—for purposes
of gross capital formation—-to business, expanded
further under the impetus of growing war expenditures.
Chart 1.—Utilization of Gross National Product, Seasonally
Adjusted Annual Rates
BILLIONS t»F DOLLARS
250
element in the economic situation in 1942. High
consumer expenditures reflected partly a rise in prices,
which masked to an increasing extent the effect of the
more static character of productive activity on gross
national product. Although not all pervasive in the
past six months, this limitation on the expansion of
total production must dominate any appraisal of the
economic outlook.
Gross National Product and Its Components.
As can be seen from chart 1, gross national product
reached a new high in the second quarter of 1943, increasing from an annual rate of 169.1 billion dollars in
the fourth quarter of 1942 to 184.9 billion. The pace,
however, at which national product was growing had
slackened from an annual rate of llK billions in the
latter half of 1942 to less than 8 billions in the first half
of 1943.
War Expenditures.
Source: U . S . Department of Commerce.
Private capital formation was again reduced, allowing
further diversion of capital goods and the resources
producing them to the war sector. Increasing incomes
generated by expanding war production continued to
result in buoyant consumer expenditures, which were
portly fed by further heavy drains on business inventories. New records were established in the level of
individual savings.
While on the surface the economic picture appeared
similar to that of 1942, it was evident that a new stage
in the development of the war economy was being
reached. This was brought about by the fact that,
owing mainly to shortages of manpower and other
resources, industry was approaching a ceiling on total
output. Even without correction for price rise, the
rate of growth of gross national product slackened in
the first half of 1943. Likewise there occurred a
leveling off in the trend of war expenditures, whose
rapid
upward movement had been the most dynamic
http://fraser.stlouisfed.org/
539303—43
2
Federal Reserve Bank of St. Louis
The smaller expansion of national product was
reflected in the leveling off of war expenditures. In
the latter half of 1942 this component of gross national
product showed quarterly increases of 3.9 and 3.4
billion dollars. The corresponding increase in the
first quarter of 1943 was only 1.1 billions. It was 3
billions in the second quarter, but in interpreting this
figure it should be noted that the larger increase was
due mainly to exceptionally heavy war purchases of
agricultural produce.
War expenditures continued to absorb an increasing
proportion of gross national product, 47 percent in the
second quarter of 1943, as compared with 42 percent in
the fourth quarter of 1942. But the more static character of war production found reflection in this measure
also, the above gain of 5 points comparing with a gain
of 14 points between the second and fourth quarters of
1942.
Year and quarter
Gross
national
product
War expenditures
Billions of dollars, seasonally adjusted annual rates
1942:
II
III
IV
1943:
II
War expenditures
as percent
of gross
national
product
133.8
146.2
157. 6
169. 1
27.7
41.5
57.1
70.9
21
28
36
42
177.8
184.9
75.0
87.1
42
47
The main element in the leveling off of war expenditures was the decline in war construction both of industrial and of military facilities. As can be seen from
10
SURVEY OF CURRENT BUSINESS
chart 2, military, naval, and public industrial construction in the continental United States reached its peak
in the third quarter of 1942, and had fallen to less than
one-half of that level by the second quarter of 1943.
This sharp decline, which is proceeding according to
schedule, is merely the result of the fact that the Nation
will soon be fully equipped with the fixed facilities
necessary for the production of munitions and for the
actual conduct of military operations. Resources are
being liberated from the preparatory task of building
these facilities for the direct production of implements
of war.
Chart 2.—Military and Naval and Public Industrial New
Construction in Continental United States
BILLIONS OF DOLLARS
4
1941
1943
DD 43-420
Sources: War Production Board and V. S. Department of Commerce.
In addition to this decline in construction, the production of munitions has not continued to advance at
the rate that characterized the latter half of 1942. This
may be explained, first of all, by the fact that it is
increasingly difficult to maintain given rates of growth
as the absolute level of output approaches a ceiling.
Secondly, there have occurred considerable shifts
among the types of munitions called for by the production schedules. Such shifts must necessarily interfere
with the smooth growth of munitions output.
Other Government Expenditures.
After declining sharply over a period of years Federal
nonwar expenditures continued at about the levels of
the corresponding period a year ago. (The erratic
quarterly movement of these expenditures is due largely
to the transactions of the Commodity Credit
Corporation.) Interest payments on the public debt
have become such an important portion of the total
that their steady rise will probably more than offset
such further fall as is still occurring in other nonwar
expenditures of the Federal Government. Indications
are that expenditures of State and local governments
have declined further. But here, too, the main period
of decline seems to be over. State and local government pay rolls are stable and no further appreciable
drop
is likely in State and local construction.
August 1943
Private Gross Capital Formation.
Because war expenditures competed directly for
many of the products that normally are bought by
private business for purposes of gross capital formation,
and because for technical reasons the resources engaged
in the production of these goods could most easily be
converted to the production of war goods, the restrictive
influence of the war program on civilian output made its
most marked imprint on private gross capital formation. Private construction and private purchases of
durable equipment declined by about two-thirds from
the last quarter of 1941 to the corresponding quarter of
1942. This trend continued into 1943. A slackening
in the rate of decline was noticeable, however, and it
can be assumed that the minimum of these two components of national product is being reached. Allowing for seasonal factors, private construction fell only
moderately between the first and second quarters of
1943, and the decline in private purchases of durable
equipment slackened both in absolute and in percentage
terms.
The heavy drain on business inventories continued
this year and sizeable drafts are being made on the
foreign balance. Eeduction of business inventories has
now proceeded for a full year. It is serving as a powerful support of civilian consumption, which is proceeding at levels that considerably exceed current production of consumers' goods. Inventories have been
reduced substantially and, as it is obvious that drafts on
them cannot continue indefinitely at the present rate,
civilians will feel increasingly the restrictions on current
output available for their use.
The ratio of inventories to sales has declined sharply,
not only because of the fall of stocks but also because
of the increase in sales. The absolute volume of inventories, however, is still high and further substantial
reductions are probable. While this will mean unusually low inventory-sales ratios, the physical shortage on
the supply side and the effects of price control on the
demand side are likely to make it impossible for business
to maintain what it ordinarily considers adequate
stocks.
Consumer Expenditures.
In the first quarter of the year consumer expenditures x continued the phenomenal advance which had
been in evidence in 1942. Seasonally adjusted consumer expenditures were flowing at an annual rate of
90.2 billion dollars, or nearly 5 billion dollars above the
all-time high in the previous quarter. The major part
of the rise was due to a spurt in purchases of clothing
which increased sharply on a seasonally adjusted basis.
Other major categories of goods, with the exception of
durable goods and gasoline, increased more moderately,
and expenditures on services continued their steady
advance. Consumer expenditures in the second quarter
i Consumer expenditures, as here denned, include expenditures of soldiers out of
cash pay and allowances. They do not include goods and services furnished to them
in kind.
August 1943
SURVEY OF CURRENT BUSINESS
receded only slightly from this high level. In the first
half of 1943 they rose 12 percent over the corresponding
period a year ago.
A correction of consumer expenditures for the rise of
prices that is occurring does not alter this general
impression of a high level of consumer purchases. As
can be seen from chart 3, consumer expenditures, expressed in constant 1939 dollars, mounted from a level
of around 60 billions in the beginning of 1939 to a
plateau of 70 billions in 1941, around which they have
fluctuated in 1942. In the current year they have exceeded this level. No decrease in real consumption
during the war is revealed by the accepted techniques
of statistical deflation.
11
resources at hand initially, the United States could
fill the requirements of the rearmament program largely
by industrial expansion. In Great Britain the scope
for expansion was smaller, and diversion from civilian
use had to be greater. In addition, in a country as
greatly dependent upon imports as Great Britain, the
consumer was severly affected by the acute shortage of
shipping.
In the light of these comparisons the extent of curtailment which rearmament and war have forced upon the
American consumer so far appears small indeed, and
notions to the contrary seem to be based on unwarranted generalizations from regional shortages of particular commodities rather than on a sober evaluation of
the over-all position.
Chart 3.—Consumer Expenditures for Goods and Services,
The high level of consumer purchases has farSeasonally Adjusted Annual Rates
reaching
implications with respect to the working of
BILLIONS OF DOLLARS
100
the war economy. As long as manpower shortages did
not constitute one of the major economic bottlenecks,
it was reasonable to argue that a high level of real
consumption was no drag on the war effort. This
argument was valid because equipment and material
that was required by the war program and that was
in excess of minimum civilian needs, had already been
withdrawn from industries producing for civilian consumption. It is doubtful whether with a general man20
power shortage the same view can still be taken of
the high level of real consumption. The rising flow
of money expenditures, on the other hand, constitutes
a focal point of the threats to the smooth working of
1943
1939
1940
1941
D.D. 43-4 22
the domestic economy. It exerts a tremendous presSource: U. S. Department of Commerce.
sure on prices which is causing serious breaches in
the price control and rationing programs, and is the
Attention is again drawn to certain difficulties in the root of a great part of the difficulties being encountered
measurement of real consumption. It is not possible on the domestic front.
in these measurements to take account of all quality
changes or of the fact that some price quotations may Changes in Distributive Shares.
National income, the sum of distributive shares
not be representative. Nor is it possible to make statistical allowance for the loss of consumer satisfaction accruing to factors of production, including the net
which results from the fact that, although the over-all savings of corporations, continued to expand rapidly,
volume of consumption is being maintained, the con- from an annual rate of 131.8 billion dollars in the
sumer's freedom of choice has been seriously restricted last quarter of 1942 to 146.1 billions in the second
by the shortage of durable goods and more recently of an quarter of 1943. The pattern according to which this
gain was distributed was similar to that of 1942,
increasing range of other commodities.
While it is not possible to make quantitative allow- though some significant changes in relationships can
ance for these factors, comparisons with other warring be noted. Net incomes of farm proprietors and comcountries can be made, where similar difficulties in pensation of Government employees, including the
measuring real consumption are present. In Great pay of the armed forces, increased most markedly,
Britain, for instance, real consumption in 1942 had each by about 20 percent from the last quarter of 1942
fallen about 20 percent below the level of 1938 the last to the second quarter of 1943. Compensation of
year of peace. In the United States, real consumption private employees increased by 9 percent over the same
in 1942 stood 13 percent above the level of 1939, the period. Preliminary data on corporate profits indicate
last year in which the American economy was unaf- a sizeable increase of net profits after taxes. Between
1941 and 1942 net profits were limited by an increase
fected by rearmament or war.
The divergent experience of the two countries was in tax rates. No such offset to rising business volume
due to the fact that, with a larger volume of unemployed has been present in the past 6 months.
12
SURVEY OF CURRENT BUSINESS
August 1943
Table 1.—Gross National Product or Expenditure, Quarterly, 1941-1943: Seasonally Adjusted Annual Rates l
[Billions of dollars]
Line
1943
Item
I
Gross national product or expenditure
Government expenditures
Federal Government
.
_. __
War
Nonwar
State and local government
Output available for private use
Private gross capital formation
Construction
. _.
Producers' durable equipment. __.
Net change in business inventories
Net exports of goods and services
Net exports and monetary use of gold and silver
Consumers' goods and services
Durable goods
Nondurable goods
Services
II
177.8
87.9
81.1
75.0
6.0
6.8
89.8
-.4
1.6
2.6
-3.9
-.6
—. 1
90.2
6.5
55.0
28.7
184.9
96.7
89.9
87.1
2.8
6.8
88.1
-1.1
1.5
2.0
-3.4
-1.1
89.2
6.3
53.8
29.1
1
Detail will not necessarily add to totals because of rounding.
2 Less than $50,000,000.
Table 2.—National Income by Distributive Shares, Quarterly, 1941-43: Seasonally Adjusted Annual Rates ]
[Billions of dollars]
1942
1941
Line
Total national income
Total compensation of employees
Salaries and wages
Supplements
Net income of proprietors
Agricultural
Nonagricnltural
Interest and net rents
Net corporate profits
1
1943
Item
I
II
III
IV
85.2
57.4
53.6
3.7
13.4
5.0
8.5
7.6
6.7
93.1
62.5
58.7
3.8
15.0
6.0
9.0
7.9
7.7
99. 5
67. 2
63. 6
3. 6
16. 3
6. 8
9. 5
8. 0
8. 0
104.6
71.1
67.5
3.6
17.2
7.2
10.0
8.1
8.2
I
108.9
75.0
71.4
3.5
18.5
8.4
10.1
8.2
7.1
115.7
80.5
77.0
3.4
19.5
9.2
10.3
8.3
7.4
III
IV
122.8
86.2
83.0
3.3
20.3
9.9
10.4
8.5
7.8
131.8
93.0
89.7
3.3
22.0
11.3
10.7
8.8
8.1
140.1
99.1
95.8
3.3
23. 4
12.6
10.8
9.1
8.5
1
i
!
!
I
146.1
103.2
100.0
3.2
24.6
13.6
11.0
9.5
Detail will not necessarily add to totals because of rounding.
Table 3.—-Disposition of Income Payments, Quarterly, 1941-43: Seasonally Adjusted Annual Rates
l
[Billions of dollars]
1942
III
Income payments to individuals
Less: Personal taxes and nontax payments-.
Federal
State and local
Equals: Disposable income of individuals...
Less: Consumer expenditures
Equals: N e t savings of individuals
1
82.8
4.0
2.0
1.9
78.9
71.0
89.7
4.0
2.0
1.9
85.7
73.7
12.1
IV
95.8
4.0
2.0
1.9
91.8
77.3
14.6
111. 6
6. 6
4. 7
1. 9
104. 9
79. 5
25. 4
1943
III
IV
118.1
6.6
4.7
1.9
111.5
82.8
28.7
126.
6.
4.
1.
120.
85.
34.
II
134.7
14.6
12.7
1.9
120. 1
90.2
29.9
140.5
14.7
12.8
1.9
125.8
89.2
36.6
Detail will not necessarily add to totals because of rounding.
Table 4.-~Relation of Gross National Product to National Income, 1939-43 '
[Billions of dollars]
1942
1941
Line
1
2
3
4
5
6
7
8
1
Item
National income
Business tax and nontBY liabilities.
Depreciation and denletion charges
Other business reserves
Capital outlays charged to current expense.
Inventory revaluation adjustment
Adjustment for discrepancies
Gross national product or expenditure
1939
70.8
10.4
6.2
.8
.7
— 4
0
88. 6
77.8
12.4
6,4
.9
.9
— 4
-.9
97.0
Detail will not necessarily add to totals because of rounding.
1943
1940
I
II
III
IV
20.8
4.0
1.7
2
.3
— 5
-.5
26.0
23.0
4.5
1.7
.2
.4
24.7
4.8
1.8
2
.4
— 9
— .8
30.2
27.1
5.0
1.8
.3
.4
-1.1
.2
29.3
33:7
Total
95.6
18. 3
6.9
1.0
1.5
—3.2
-.8
119.2
I
II
III
IV
26.2
5.6
1.9
.2
.3
28.4
5.9
1.9
.3
.4
-.6
.5
36.7
30.9
6.2
2.0
.3
.4
-.2
-.6
39.0
34.3
6.4
2.0
.3
.4
-.5
.8
43.6
0
-L0
32.4
Total
119.8
24. 0
7.8
1.0
1.5
-2.1
151.7
I
34.0
6.3
2.0
.2
.4
-.3
.5
43.1
II
35.9
6.8
2.0
.2
.4
-.3
1.4
46.4
13
SURVEY OF CURRENT BUSINESS
August 1943
Table 5.—-Gross National Product or Expenditure, 1939-43 *
[Billions of dollars]
1942
1941
Item
Line
1939
Gross national product or expenditure
Government expenditures for goods
and services.-.
Federal Government
War
Nonwar
State and local government _ __.
Output available for private use
Private gross capital formation
Construction
Residential
Other
Producers' durable equipmentNet change in business inventories
Net exports of goods and services
Net exports and monetary use
of gold and silver
Consumers' goods and services
„
Durable goods
,._,
Nondurable goods
Services_.__
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
1943
1940
I
II
III
IV
Total
I
II
III
IV
Total
I
II
88.6
97.0
26.0
29.3
30.2
33.7
119.2
32.4
36.7
39.0
43.6
151. 7
43.1
46.4
16.0
7.9
1 4
6.5
8.1
72.6
10.9
3 6
2 0
1.6
5.5
16.7
8.8
2 7
6.1
7.9
80.4
14.7
4 3
2.4
2.0
6.9
5.3
3.3
1.9
1.4
2.0
20.7
4.1
1.0
.5
.5
2.3
6.0
3.9
2.5
1.4
2.1
23.3
4.7
1.4
.7
.6
2.4
6.3
4.6
3.4
1.2
1.7
23.9
5.0
1.6
.9
.7
2.0
8.1
6.1
4.7
1.3
2.1
25.6
5.1
1.4
.7
.7
2.3
25.7
17.8
12.5
5.3
7.8
93.5
19.0
5.4
2.9
2.5
8.9
10.0
8.0
6.9
1.1
2.0
22.3
3.5
.9
.5
.4
1.8
14.0
12.0
10.4
1.6
2.0
22.7
2.9
.9
.5
.4
1.5
17.0
15.4
14.3
1.2
1.6
22.0
1.6
.7
.3
.4
1.1
20.7
18.9
17.7
1.1
1.8
22.9
-.1
.5
.2
.3
.8
61.7
54.3
49.3
5.0
7.4
89.9
8.0
2.9
1.5
1.5
5.1
22.0
20.3
18.8
1.5
1.8
21.1
.1
.3'
.1
.2
.6
24.3
22.5
21.8
.7
1.8
22.1
j
A
.2
.2
.5
.9
1.8
.6
.8
1.0
1.2
3.5
.6
.4
-.3
-1.4
—.6
—.7
-.7
.8
1.4
.2
.2
.3
.2
.9
.1
.1
.1
.4
-.1
-.3
.2
61.7
6.4
32 6
22.7
.3
65.7
7.4
34.4
23.9
(2)
16.6
1.9
8.5
6.2
(2)
18.6
2.6
9.7
6.3
.1
18.9
2.2
10.3
6.4
(2)
20.5
2.3
11.6
6.5
.2
74.6
9.1
40.1
25.4
.1
18.8
1.4
10.7
6.7
(2)
19.8
1.5
11.4
6.9
(2)
20.3
1.5
11.9
6.9
.1
82.0
6.4
48.0
27.6
(2)
21.0
1.3
12.5
7.2
(2)
(2)
(2)
23.1
2.0
14.0
7.1
22.3
1.6
13.4
7.3
1
Detail will not necessarily add to totals because of rounding.
J Less than $50,000,000.
Table 6.—National Income by Distributive Shares, 1939-43 1
[Billions of dollars]
1942
1941
Line
1
2
3
4
5
6
7
8
9
10
11
Item
1939
Total national income
Total compensation of employees
Salaries and wages
Supplements
Net income of proprietors
A g r i c u l t u r a l .__ ._
70.8
48.1
44.2
3.8
11.2
4.3
6.9
7.4
4.2
o c
.4
„
Nonagricultural
Interest and net rents
Net corporate profit _
Dividends
Savings
1943
1940
77.8
52.4
48.7
3. 7
12.2
4.4
7.8
7.5
5.8
4.0
1.8
Total
I
II
III
IV
20.8
14.3
13.3
1.0
3.2
1.1
2.1
1.8
1.6
.9
.6
23.0
15.7
14.7
1.0
3.4
1.2
2.3
2.1
1.9
1.0
.9
24.7
16.6
15.7
.9
4.2
1.8
2.4
1.9
2.0
1.0
1.1
27.1
18.0
17.1
.9
4.7
2.2
2.5
2.1
2.2
1.6
.7
95.6
64.6
60.9
3.7
15.5
6.2
9.3
7.9
7.7
4.4
3.3
I
26.2
18.3
17.4
.9
4.2
1.7
2.5
2.0
1.7
.9
.8
II
III
IV
28.4
20.0
19.1
.9
4.4
1.9
2.6
2.2
1.8
.9
.9
30.9
21.6
20.8
.8
5.3
2.7
2.6
2.0
2.0
.9
1.0
34.3
23.7
22.9
.8
6.1
3.4
2.7
2.3
2.2
1.2
.9
Total
119.8
83.7
80.3
3.4
20.1
9.7
10.4
8.4
7.6
4 0
3.6
I
II
34.0
24.6
23.8
.8
5.2
2.5
2.7
2.2
2.0
.8
1.2
35.9
25.9
25.1
.8
5. 4
fi £ 2 . 6
;2.8
2.6
2.1
1
.9
1.2
Detail will not necessarily add to totals because of rounding.
Table 7.—Disposition of National Income, 1939-43 1
[Billions of dollars]
1941
Line
Item
National income
„
Add: Transfer p a y m e n t s . .
______._.
Less: Corporate savings
Contributions to social insurance
funds.
Equa-s: Income payments to i n d i v i d u a l s . . .
Less: Personal taxes and nontax payments
Federal
_...
State and local
.
E q u a l s : Disposable income of individuals
Less: Consumer expenditures
E q u a l s : Net savings of individuals
1
1939
1942
1913
1940
III
IV
27.1
95.6
2.5
3.3
26.2
.7
.7
26.3
1.0
.4
.6
25.3
20.5
4.8
2.6
92.2
4.0
2.0
1.9
88. 2
74.6
13.7
25.3
2.5
2.0
.5
22.8
18.8
4.0
70.8
2.4
.4
77.8
2.6
1.8
20.8
.7
23.0
24.7
.6
1.1
2.0
70.8
3.1
1.3
1.9
67.7
61.7
6.0
2.1
76.5
3.3
1.4
1.9
73.2
65.7
7.5
20.2
1.4
.8
.5
18.9
16.6
2.3
22.1
1.0
.5
.5
21.1
18.6
2.5
23.6
.7
.4
.3
22.9
18.9
4.0
Total
III
IV
28.4
.6
.9
30.9
.6
1.0
34.3
.6
119.8
2.6
3.6
34.0
.7
1.2
35.9
.8
1.2
27.4
1.6
1.0
.5
25.8
19.8
6.0
29.7
1.2
1.0
.3
28.4
20.3
8.1
33.1
1.3
.7
.6
31.8
23.1
8.7
3.3
115.5
6.6
4.7
1.9
108.8
82.0
26.9
32.6
3.9
3.3
.5
28.7
21.0
7.7
1.0
34.5
3.6
3.0
.5
31.0
22.3
8.7
Total
I
II
Detail will not necessarily add to totals because of rounding.
The growth of interest income reflected larger
interest payments on the public debt. Net income
of nonfarm proprietors increased less markedly.
Relation of Income Payments to Gross National Product.
Income payments to individuals—-which differ from
national income by excluding the savings of corporations and pay-roll taxes, and by including transfer payments such as relief, pensions, and allowances to
soldiers7 dependents—rose from an annual rate of 126.7
billion
dollars in the last quarter of 1942 to 140.5 billions
in the second quarter of 1943. In spite of the buoyancy
of incomes some traces of the less dynamic character of
productive activity were discernible. Manufacturing
wages and salaries, Federal Government pay rolls (including the pay of the armed forces) and net incomes of
farm proprietors showed successively smaller increases
in the first half of 1943, and pay rolls in the contract
construction industry declined from their 1942 peak.
These components of income payments have accounted
for most of the increase in the total during the war
period. The slackening in the expansion of total
14
SURVEY OF CURRENT BUSINESS
income payments was, however, somewhat less pronounced than in gross national product. Whereas
gross national product increased by 16 percent between
the second and fourth quarters of 1942 and by only 9
percent between the latter period and the second
quarter of 1943, the corresponding figures for income
payments were 13 and 11 percent.
It is interesting to speculate why at the present time
the more static character of production is somewhat
more easily discernible in national product than in income payments. The sums of money paid out by the
buyers of the national product do not all generate
income payments to individuals. Part of them are
absorbed by corporate savings and by business reserves,
such as reserves for taxes, depreciation and depletion,
bad debts, etc. For several reasons, the relative importance of these items is decreasing at present.
An increasing volume of payments is made directly to
individuals in the armed forces. These payments result
wholly in income payments without any previous cut
being taken for corporate savings or reserves. The
same holds true of the increasing share of income that is
paid out to farmers. Furthermore, a growing proportion of industrial production takes place in plants owned
by the Government. Payments with respect to this production also result wholly in income payments to individuals and do not generate business saving or reserves.
Another type of payment that enters income payments
but not national product are allowances to soldiers'
dependents which are now being paid out in increasing
amounts, and more than offset the decline in other
transfer payments.
While the proportion of direct payments to individuals
is thus increasing, there are indications that even with
respect to the payments initially received by corporations, a larger proportion is paid out to individuals.
Reserves for special amortization are leveling off as the
construction of emergency facilities under the system of
certificates of necessity is nearing completion. The
same holds true of reserves for depletion as the output
of the extractive industries is approaching its peak.
The expectation that legislation will not be enacted in
time to increase tax liabilities on 1943 business receipts
or incomes is resulting in an increase in reserves for
business taxes which is smaller than the one which has
occurred in the past year.
Individual Savings.
In spite of the continued rise of income payments the
phenomenal growth of individual savings—which include the savings of unincorporated business—was
interrupted in the first quarter of 1943. On a seasonally
adjusted basis these savings declined from an annual
rate of nearly 35 billions in the fourth quarter of 1942 to
30 billions in the first quarter of 1943. This drop was
due to an increase in personal taxes and high consumer
expenditures. Payments of Federal income tax at
sharply increased rates on 1942 incomes, and the
Victory Tax on wages and salaries currently paid out
August 1943
constituted the principal sources of the increase in taxes.
It is significant that the effect of heavier tax payments
is clearly reflected in a reduction of individual savings
whereas it leaves no measurable imprint on consumer
expenditures.
By the second quarter of the year the further growth
of incomes had obliterated the effects of increased tax
payments. Individual savings were being generated
at an annual rate of nearly 37 billion dollars, or 2
billion in excess of the previous high level.
The more than doubling of gross national product
since 1939, two-thirds of which has been due to an
increase in physical volume rather than to a rise in
prices, indicates that the economy has responded to the
production requirements of the war program. In
interpreting the significance of the surging level of
savings, one should remember that these savings include
windfalls that are the result of the price rise, and that
they exceed the amount of voluntary saving which
constitutes an offset against inflation at the current
level of income. A large proportion of savings, moreover, continues to be made in highly liquid form, and
will constitute a latent inflationary threat, unless it is
absorbed by taxes or immobilized by other means.
NOTE.—In connection with the savings estimates for 1943
attention should be drawn to certain statistical difficulties in the
estimation of Federal income tax payments. Until the current
year quarterly unadjusted payments of Federal income tax were
measured by quarterly collections. The adjusted quarterly series
wras derived by allocating total annual payments evenly among
the quarters, as though these payments had been made in four
equal quarterly installments.
In recent years, when both incomes and tax rates were rising,
this treatment did not eliminate sharp increases in the personal
tax series between the fourth and the first quarters. It was
realized that for certain purposes, for instance, for a quarterly
comparison of consumption, savings and disposable income, a
further smoothing of the tax series might be desirable. This
would involve allocating part of the in erased tax burden of a
given year to the last quarter of the previous year, on the ground
that the spending and saving decisions of individuals were already
influenced by the anticipation of heavier tax payments in the
ensuing year. But such adjustment was not made in the published series, because it transcends the character of a seasonal
adjustment and because it would have involved too large an
element of arbitrary discretion.
In the current year further complications have arisen. Owing
to the administrative difficulties in handling the large volume of
tax returns a substantial part of quarterly payments are not
reported as collections until the first month of the next quarter.
It becomes necessary to estimate the spill-over and to allocate
it to the previous quarter. Also, Victory tax has to be allocated
to the quarter in which it is deducted from pay rolls rather than
the quarter in which it appears in collections. A whole quarter
of Victory tax deductions had to be estimated on the basis of
information wThich is extremely scanty owing to the newness of
the tax. Because of the change in the tax collection system that
becomes effective in the second half of the year under the
Current Tax Payment Act of 1943 the adjusted individual
income tax series for the first twTo quarters of 1943 was calculated
by averaging estimated payments in the two quarters and
expressing them as annual rates. Indications are that seasonal
factors in the first two quarters' Victory tax deductions are slight,
and it was decided not to attempt a correction for these factors.
SURVEY OF CURRENT BUSINESS
August 1943
15
Sales of Wholesalers, 1929-43
By Louis J. Paradiso and Lawrence Bridge, Current Business Analysis Unit, Bureau of Foreign and Domestic Commerce
ROM the point of view of sales volume, wholesale
Ftrade
is the most important, next to manufacturing,
on wholesalers for the much needed supplies of producers7 goods which these establishments had on hand.
of the major industrial divisions of the economy. Thus it was that stocks of wholesalers were being
In 1939, for example, sales of manufacturers amounted depleted long before manufacturers' or retailers' into almost 57 billion dollars, while sales of wholesalers ventories. With growing scarcities of goods for contotalled 55 billion. In this same year sales of retail sumers and with greater consumer demands arising
stores amounted to 42 billion dollars, while sales or from increased purchasing power, wholesalers w^ere
receipts of other major industrial groups shown in strongly pressed by retailers to make these demands
table 1 were considerably lower.
known to producers and to try to fill them in every
Moreover, in spite of the significant relative shifts possible way. Hence, in this critical period, wholeof these groups in the war period, wholesale trade salers, in addition to their other economic functions,
has remained second in importance. The contribution have served to introduce some measure of stability in
of wholesaling to the total net national income is also a market mechanism which could have easily become
considerable. In 1939 wholesale trade accounted for chaotic.
5.4 percent of the total national income produced,
In recognition of the usefulness of current informaand this position has been maintained fairly well tion on wholesaling, not only in the war period but
since [then. Thus in 1939 wholesale trade was more also in appraising consumer demand and productive
important as a source of income than mining, con- activity in the post-war years, this article presents
struction, the electric power and gas, and communica- monthly estimates of wholesale sales for the years
tion industries.
1939 to 1943 and annual estimates for 1929, 1933, and
The true significance of wholesaling in the economy, 1935-39. In addition to total sales, estimates are
however, lies in the general economic functions per- also presented for 19 groups of wholesale business
formed by wholesale institutions. Their principal and for the service and limited function wholesalers
functions may be briefly described as follows: (1) The separately.
assembling and distributing of goods wanted by conThe Field of Wholesale Trade
sumers and producers; (2) the collecting of information
on demand for goods and translating this into orders
The most general definition of wholesaling would
to producers; and (3) the storing of surplus goods, include all marketing transactions in which the purmaking it possible to satisfy the needs of consumers chaser is actuated by a profit or business motive in
and producers speedily and in the right amounts.
making the purchase.2 In this broad aspect, wholeTable 1.—Comparative Statistics for Specified Industries, 1939 sale sales would embrace, for example, all sales to
retailers, to industrial consumers and governmental
Number of
Value of
bodies. They would include sales of equipment and
Net
income
establish- Personnel 1 output or produced
Industry
ments
sales !
supplies to service establishments, whether made by
producers, wholesalers, or other types of organizaMillions of Millions of
dollars
Thousands
dollars
tions, so long as the customer in buying the goods
Manufacturing
184, 230
8,936
56,843
16,965
did not use them for his personal satisfaction. Ac1,696
Wholesaling
55,266
200, 573
3,821
42,042
6,211
Retailing
1,770,355
7,135
tually, statistical measures corresponding to this
6, 096,799
7,814
10,740
Agricultural _-_
5,230
broad concept are not available, and even if avail6,372
4,950
39, 000
2,298
Transportation _
1,942
4,520
215, 050
1,300
Construction
able they could not easily be compared or analyzed
with existing measures of activity for other industrial
1 For all industries except transportation data are based on Sixteenth Decennial
fields because the same sales would be counted in
Census 1940, Bureau of the Census. Transportation estimated by the use of information from several governmental agencies and other sources; value of output is
several industries.
iepresented by total revenues.
2
The concept here adopted is as given by the Bureau of
Bureau of Foreign and Domestic Commerce, U. S. Department of Commerce.
3
Number of establishments represents number of farms; personnel includes family
the Census in its report on the Census of Business for
workers and hired hands and is based on estimate of the U. S. Department of
Wholesale Trade.3 Wholesaling in this sense includes,
Agriculture.
in addition to the conventional types of wholesalers,
During this war period these functions have assumed manufacturer-owned sales outlets, petroleum bulk
a much greater importance. In the process of con2 For a more detailed discussion of the principles and practice of wholesaling, see
version to war, industry relied to a greater extent Beckman
and Engle, Wholesaling, the Ronald Press Company, New York, 1937.
1
2
3
i Acknowledgment is made of the contribution of Morris Kaufman in the early
stages
of the statistical work.
3
See Census of Business, volume II, Wholesale Trade, 1939, Bureau of the Census,
Department of Commerce.
16
SURVEY OF CURRENT BUSINESS
stations, agents, brokers, and assemblers of farm products. The most important of these types, of course,
both in number of establishments and volume of
business are the service and limited-function wholesalers—-those of the more conventional type plus
merchants engaged primarily in foreign trade. Their
proportion of total wholesale sales has been fairly
constant since 1935, amounting to about 43 percent.
Table 2.—Sales of Wholesalers, 1929, 1933, and 1935-42
Year
Nondu- Dm ible
All
wholerable
go<)dS
goods
esta1 >lish- salers
establish- me n t s
ments
Service
and
limitedfunction
wholesalers
IS1 on duAll
rable
Durable
goods
goods
wholeestablish- establish- salers *
ments i
ments l
August 1943
Service of the Bureau of the Census. This sample
covers about 1.5 percent of total establishments and
about 5 percent of total sales. For each kind of business, the sample was analyzed in relation to the complete census coverage in 1935 and 1939 and adjusted
to the census levels in these years. (A more detailed
description of the reliability of the sample and technical
methods used in constructing the sales data is given in
the notes to this article.) Because of inadequate coverage for certain types of business, the sales estimates
presented in this report are to be considered as preliminary and will be revised as more intensive work is
completed on the subgroups.
Sales at a n All-Time Record in 1942
Millions of 1935-39 dollars
Millions of current dollars
The rapidly mounting government expenditures for
1
national
defense since the middle of 1940 had important
55, 627
15,615
012
49,217
29, 288
1929
17, 767 66, 984
37, 763
074
6, 689
24,210
5, 794 30, 010
12. 821
1933
effects
on
the wholesale trade as well as on manufactur42, 826
32, 792
18, 349
212
10,614
1935
10,011 42, 803
51,419
38, 479
22,155
13,961
458
1936
13, 285 51, 764
ing,
retail
trade, and other industries of our economy.
52, 591
41,585
24, 219
307
14,284
1937
15, 001 56, 586
52, 507
37, 927
21, 607
317
12, 190
1938
12, 555 50, 482
The
pre-war
peak in wholesale sales was reached in 1929,
58, 328
40,162
23, 6'z2
14, 728
600
1939
15,104 55, 266
63, 752
43, 852
26, 439
17, 926 61,778
630
17,122
1940
amounting
to
67 billion dollars. At the bottom of the
76, 952
57,018
36, 242
902
25, 050
1941
27, 608 84, 686
78, 364
70, 595
41, 290
129
22, 235
1942
25, 880 96, 475
depression, sales had fallen to well under one-half of this
figure and since then have recovered fairly rapidly. But
i Total dollar sales adjusted for wholesale price changes.
even in 1940 they were below the 1929 peak.
In classifying business concerns as wholesalers there
Stemming from the effects of the defense program,
is the further problem for those that also carry on busi- however, total wholesale sales in 1941 increased 37
ness in other fields such as retailing, farming, or manu- percent from 1940. This increase was almost as great
facturing. In these cases the Census has adopted the as the spectacular rise in manufacturers' sales over these
50 percent rule. Establishments are classified in one 2 years, and compares with a less than 20 percent
activity or another according to the bulk of their increase in sales of retail stores.
business. The number of cases in which it was necesThe larger increase in wholesale sales over this period
sary to apply this rule, however, was relatively small. when compared with the corresponding increase in
The monthly estimates of wholesale sales shown in sales of retail stores is due mainly to the fact that mantables 2-4 are based primarily on the monthly sample ufacturers produced a record volume of consumers7
of wholesalers reporting to the Current Statistical goods and an all-time record volume of producers*
Chart 1.—Sales of Wholesale Establishments and Retail Stores
BILLIONS OF DOLLARS
BILLIONS OF DOLLARS
120
120
[ I l l
ANNUAL TOTALS
SEASONALLY ADJUSTED AT ANNUAL RATE
100
IOO
WHOLESALERS
STORES
80
80
60
60
40
40
20
20
i i i i I i i i i i
1929 '33 '35 '36 '37 '38
Source: U. S. Department of Commerce.
1939
1940
1941
i i i i i
i i i ii
1942
1943
D.D. 43-437
equipment, much of which passed through wholesale
markets. Since only small quantities of producers'
durables go through retailers, wholesalers had the advantage of being able to participate in the increased
business of both types of goods.
During 1942 the conversion of industries to war took
place on a wide scale and war goods were being produced
at an accelerated pace. In this process many wholesalers were short-circuited and while total sales continued at record levels during the year, the rate of
expansion was considerably less than the rise in sales of
manufacturers. Thus, total wholesale sales in 1942
increased 14 percent from 1941 and since 1942 a further
decline in the rate of expansion has taken place. In
fact, sales for the first six months of 1943 were only 6
percent above the first six months of 1942.
Chart 2.—Wholesalers' Sales of Durable and
Nondurable Goods
BILLIONS OF DOLLARS
00
SEASONALLY ADJUSTED AT ANNUAL RATE
ft rj
NONL1URABLE GOOL
/
60
/
40
DURABLE t 100DS*.
. . . . . .
?0
i i t i i ! I i i i i
0
1939
17
SURVEY OF CURRENT BUSINESS
August 1943
1940
i i i i i 1 i i i i i i i i i i 1 i i i i i i i i i i I i i i i i
1941
1942
1943
0 0. 43-436
Source: U. S. Department of Commerce.
goods establishments showed only 10 percent increase
from the same period of last year, while sales of the
durable goods establishments declined by the same
percentage.
1943 Quantity Sales Are Below 1942 Levels
A considerable portion of the increase in dollar
wholesale sales in the recent period has resulted from
the rise in the price of goods. Lack of data makes it
impossible to measure directly the movement of the
physical quantity of goods sold. An indication of the
changes in physical quantities, however, may be obtained by dividing sales volume by average prices. For
this purpose, special price indexes were constructed to
correspond as closely as possible to the products sold
by each of the 19 kinds of business shown in table 3.
The wholesale price indexes of the Bureau of Labor
Statistics were used to represent the movement of
prices of goods sold by wholesalers. (A more detailed
discussion of the price indexes used is given in the section of this article describing sources and methods used.)
Since these prices are in general closer to the cost of
goods purchased by wholesalers than to their selling
prices, the assumption is made, in using these indexes,
that the wholesale mark-up and other elements of cost
have been relatively stable over the period. Special
studies made by the Bureau of Labor Statistics seem
to substantiate the essential validity of this assumption.
About one third of the rise in total dollar wholesale
sales from 1940 to 1941 resulted from increased prices.
In 1942, however, higher prices accounted for over 90
percent of the sales increase from 1941. With the
slowing down in the rate of increase of wholesale prices
in recent months, the price influence in sales has been
of secondary importance.
Since the outbreak of war wholesalers had increasing
Chart 3.—Wholesalers' Sales, Adjusted for Seasonal
difficulties in obtaining supplies of durable goods,
Variation *
particularly those containing critical metals and goods
INDEX, 1935-39 = 100
for consumer use. Supplies of nondurable^, however,
225
were still relatively plentiful and wholesale establishments dealing primarily in these products increased
their sales by 24 percent from 1941 to 1942.
In contrast, those establishments selling primarily
durable commodities showed a decline of almost 8 percent. It is to be noted that this decline is not as great
as the one-third drop in sales of retail stores handling
primarily durable goods. Most of the durables sold
'.00
by retail stores are consumer durables whose output was
heavily curtailed in the past year and a half. Wholesale establishments, on the other hand, sell in addition
1939
1940
194!
i942
1943
0 0 43-435
to consumer goods a considerable proportion of proi Sales in 1935-39 dollars were adjusted for wholesale-price changes.
ducers' durables which were still being produced in
Source: U. S. Department of Commerce.
large volume in 1942.
Further shortages of civilian goods of all types are
The cut in civilian output of goods, including pronow being felt to a much greater extent by wholesalers. ducers' and consumers7 goods, is suggested by the
Thus, in the first half of this year sales of nondurable changes in the physical quantities of goods sold by
Qu.
Qu. Qu.
Qu.
Qu. Qu Qu.
Qu.
Qu. Qu.
Qu.
Qu. Qu. Qu.
...
2nd 3rd 4th
Qu. Qu. Qu. Qu.
18
SURVEY OF CURRENT BUSINESS
August 1943
Table 3.—Sales of Wholesalers, by Kind of Business, 1929, 1933, and 1935-43 1
[Millions of dollars]
a
fur-
Nondurable goods establishments
"Sis
d SJ
S d
b/'d
emic
dus
Year and month
1929
1933
1935
1936
1937
1938
1939:
January
February
March
April
May
June
July
August
September
October
November
December
66,984
30,010
42, 803
51, 764
56, 586
50, 483
49, 217
24, 216
32, 792
38,480
41, 585
37, 927
21
220
,067
,515
,716
,678
493
272
358
468
595
420
3,976
3,730
4,475
4,090
4,363
4,309
4,086
4,784
5,829
5,677
5,202
4,745
3,042
2,798
3,335
2,974
3,125
3,047
2,905
3,460
4, 334
4,081
3,703
3,359
108
106
129
132
138
128
121
132
164
160
154
213
39
36
43
38
40
43
40
44
55
55
51
49
55, 266
Total
1940:
January
February
March
April
May
June
July
August
September
October
November
December
3, 451
3, 255
3, 450
3, 464
3, 555
3,310
3,246
3,687
4,191
4,570
3,954
3, 719
61, 778
Total
1941:
January
February
March
April
May
June
July
August
September
October
November
December
40,163 1, 685
5, 502
5,461
6,165
- 6,440
6,859
6, 735
7,078
7,779
8,469
8,921
7,464
7,813
Total.
1942:
January
February-_
March
April
May
June
July
August
SeptemberOctober
November.
December. .
Total. _
1943:
January...
February.
March
April
May
June
84, 686 57,018 2,210
7,965
7,533
8,140
8,064
7,393
7,371
7,649
7,823
8,646
9,524
8,178
8,189
96, 475
7,742
7,940
8,833
8,470
8,023
8,165
5, 684
5,327
5,776
5,711
5, 246
5,227
5,589
5,763
6, 4.99
7,297
6, 257
6,220
212
176
201
209
210
225
250
227
271
396
241
303
70,595 2,921
5,972
6,006
6,670
6,238
5,920
5,974
262
243
299
280
259
286
2,100 1,160
965 631
1,449
816
1,600
970
1, 645 1,049
1,461
833
771
446
613
710
790
762
3,797 11,717 17,402
2,125 3, 869 9, 326
2,429 5,766 111,669
2,970
',292 12, 551
3,133 7,647 13,451
2,812 6,607 12, 542
533 1,562
940
3, 272
126
187
206
141
134
94
96
183
188
141
116
100
111
96
89
68
71
71
72
7?
82
83
99
107
266
256
272
257
254
222
243
368
374
368
345
272
1,712 1,021
3.497
122
178
223
226
189
140
168
256
246
205
147
123
273
C3
234
227
272
222
247
234
216
339
383
365
314
219
129
136
155
179
205
204
189
180
231
161
186
255
1| i!
~e
S'S
o
92
84
85
60
65
56
58
68
83
95
96
98
43,852 1,817
3,784
3,668
4,115
4,248
4,507
4,364
4,683
5,230
5,837
6,163
5,134
5,285
03 g
a
119
168
227
152
119
83
82
156
145
126
100
85
122
123
143
145
146
225
93
118
154
173
162
213
Durable goods establishments
104
109
138
47
107
111
121
122
120
128
132
147
74
82
78
86
95
114
106
96
107
303
304
348
372
363
370
419
563
554
542
428
358
475
360
410
369
400
364
366
469
953
923
730
579
1,015
952
1,098
1,032
1,110
1, 132
1,062
1,121
1,345
1,132
1,094
1,053
133
592
735
867
995
908
78
73
85
78
82
82
74
89
103
103
99
92
o
13.
234
2,159
2,974
3.708
4,018
3,831
295
270
308
299
339
343
340
388
409
419
380
349
11,64' 5, 744
1,247 2, 366
1,5093,407
1, 628 4,203
1, 726 4,821
1,755 4,320
124
124
143
140
157
163
160
172
164
159
163
179
6, 398 13,146 1,038 4,139 1,848 4,793
615
516
486
525
634
403
446
526
953
1,015
777
631
1,092
1,046
1,107
1,154
1,192
1,154
1,174
1.163
1,145
1,286
1,138
1,132
91
82
87
92
96
94
94
97
101
107
95
98
348
139
305
142
349
154
349
153
381
172
425
181
351
169
396
176
412
162
430
173
408
172
405 186
169
220
276
266
208
166
188
246
259
227
179
170
146
134
136
116
108
122
131
146
143
148
140
165
107
94
105
99
92
94
104
106
128
150
111
123
480
492
548
554
476
461
515
594
619
669
607
481
670
550
590
597
752
668
652
837
1,310
1,539
1,135
1,059
1,225
1,115
1,264
1,355
1,392
1,386
1,503
1,500
1,528
1,608
1,349
1,576
107
116
123
121
131
139
154
166
143
150
1,218
975
1,027
1,057
1,020
1,026
936
1,038
1,618
1,879
1,482
1,360
1,750
1,568
1,613
1,705
1,608
1,714
1,902
1,776
1,840
1,964
1,734
1,840
161
148
157
140
133
125
117
113
124
134
127
128
971 2,574 1,635 1,313 6,496 14, 636 21,014 1,607
155
198
304
260
244
243
164
165
182
123
127
127
120
116
125
120
108
110
628
628
676
599
567
640
421
391
444
463
361
326
393
466
493
651
504
432
|2,250 2 423
'
674
934
932
1,140
1,116
1,238
1, 262
1,181
1,324
1,495
1, 596
1,499
1,386
2,163
2,609
2,785
2,654
1,109
1,483
1,877
1,388
191
190
218
217
226
230
228
268
288
313
291
247
107
115
134
140
162
168
147
145
154
156
164
188
15,103 2,907 1, 780
1,211
1,165
1,283
1, 355
1,443
1,424
1,459
1,567
1, 603
1,801
1,738
1,878
252
224
239
249
254
248
262
286
308
332
346
290
970
350
454
579
632
545
495
147
285
383
416
318
391
489
599
681
607
154
147
195
195
224
221
201
226
258
269
240
212
184
179
211
239
256
255
258
275
291
332
292
294
137
147
158
174
194
194
182
176
168
183
189
254
349
350
408
432
465
543
524
562
596
623
580
622
147
149
164
176
190
186
202
198
193
194
185
222
1,247
1,147
1,257
1,178
1,188
1,096
1,808
1.818
1,870
1,901
1,851
1,974
123
123
145
146
139
147
570
523
554
512
509
436
496
524
502
562
599
589
173
165
189
200
191
220
224
218
222
244
207
231
550
579
599
571
487
616
705
709
813
671
582
1,718
1,793
2,050
2,192
2,352
2,371
2,395
2,549
2,632
2,758
2,330
2,528
257
263
294
322
339
348
362
382
440
449
394
390
195
233
266
296
314
315
317
320
321
311
271
331
100
103
110
113
272
264
310
365
387
397
405
430
453
472
411
405
7
, 371 27, 668 4,240 3,490 1,07! 1,126 4,571
614
754
887
775
614
561
652
706
695
832
738
736
2,281
2,206
2,364
2,353
2,147
2,144
2,060
2,060
2.147
2,227
1,921
1,969
340
267
225
175
136
123
124
123
130
133
125
129
259
302
290
321
292
279
265
263
264
271
248
262
85
102
128
135
112
101
81
78
71
103
101
113
116
102
105
100
100
101
102
85
84
404
398
449
480
430
448
428
421
425
441
387
361
,376 2,484 8,564 25,880 2,032 3,316 1,159 1,212 5,072
483
427
538
461
395
395
182
190
227
228
226
246
723
867
956
852
733
608
1,770
1,934
2,163
2,232
2,108
2,191
114
113
114
131
129
139
191
207
238
244
222
217
109
97
96
83
92
105
104
97
104
351
372
422
419
399
421
6,123
527
491
527
538
574
576
617
662
653
743
730
840
429
54
66
85
90
101
95
81
97
113
119
7,498
2,430
3, 953
5.588
6,277
4,931
383
373
454
432
475
504
490
538
600
670
635
569
674 694 2,542 383
527 13,783 11,134 4, 559 |l, 984 15, 345 17, 927 3,290 2,156
851 12, 223 1,386 1,082 4,924 10, 359 16,801 1, 550 6,054 2,206
84
78
81
79
77
76
74
70
77
90
91
94
397
338
464
391
363
354
325
414
455
472
454
366
17,708
5,794
10,011
13.285
15,001
12, 555
7,478
844
867
977
76
69
63
68
1,071
1,079
1,092
1,164
i 1,119
I 1,225
| 1,004
j 1,146
589 12,576
32
43
49
48
45
42
45
58
67
66
56
58
1, 058
993
1,110
1,078
1,030
1,046
1,017
1,015
1,072
1,116
942
1,004
609 12, 481
894
1,002
1,115
1,177
1,109
1,154
i Includes service and limited-function wholesalers, manufacturers' sales branches, petroleum bulk stations, agents and brokers, and assemblers; the classification used
here by kind of business corresponds to that of the Bureau of the Census in the Census of Business, Vol. II. 1939. Detail will not necessarily add to totals because of rounding.
wholesalers in the recent period. The quantity of
goods sold in 1941 increased 21 percent from 1940, but
the rise from 1941 to 1942 was slightly less than 2 percent. Moreover, in the first half of 1943 the total quantity of goods sold declined almost 1 percent from the
first half of 1942. It is to be noted that the declining
rate of quantity of sales was due chiefly to sharp
declines in goods sold by the durable goods establishments. Jn contrast, nondurable goods wholesalers
have shown larger quantity sales even into the early
19
SURVEY OF CURRENT BUSINESS
August 1943
Table 4.-—Indexes of Sales of Wholesalers, by Kind of Business, Adjusted for Seasonal Variation, 1939-43 1
[Daily average, 1935-39=100]
Nondurable goods establishments
All wholesalers
03
Year and month
"0
£
S
PQ
3
#a
3
§|
5""
CD
O
O
T3
O
.CD
(_<
I
O
03
fcio
Ss
0
03 0
f If ]!
03 3
11
•V)
0
0
>>
x) w
Co
&
t-
CD
*
©
B
I8
0
0
1
<
1
0
O
C^
u
PH
1939:
January
February
March
April
M^av
June
July
August
September
October
November
December .
101. 3
99.7
102.5
103.8
102 6
104.2
108.6
_. 106.5
111.2
112.4
113.5
117.2
1940:
January
February
March
April
May
June
July
August
September
October
November
December
1941:
January
February
March
April
May
June .
July
August
September
October
November
December
1
100.2
97.8
105.2
103.2
98 5
109.6
112.8
114.4
128.3
129.2
116.1
123.1
110.0
102.6
106.7
108.1
99 ]
95.6
100.5
94.8
88.0
101.6
97.8
96.8
101.2
99.8
97.8
98.8
91 7
84.9
100."
90.3
102.0
122.1
113.8
112.2
117. <
100.7 86.2 99.1 106.3 108.6 105.4 114.0
100.4 85.2 101.8 106.2 108.6 104.9 98.
104.8 90.01 102.2 110.4 107.9 102.1 109.
103.5 90.2 102.5 111.4 108.8 107.6 104.2
111 5 86 6 99 7 105 5 106 2 107 6 103 3
114.1 95.8 98.8 108.9 96.2 108.4 118.
105.0 111.9 102.3 107.9 110.4 112.6 105 4
110.0 99.6 102.8 111.3 112.7 110.5 110.1
116.0 94.4 115.6 118.8 108.3 107.1 113.3
130.9 87.0 103.4 123.5 126.3 106.4 110.9
117.2 95.7 105.6 125.0 115.1 113.1 118.1
119.0 109.8 107.2 129.6 115.5 119.6 123. ^
105.8
106.8
107.0
108.4
112
111.8
114.4
107.9
105.5
110.8
107.2
ll
p
T3 ©
§
w
ft
0
•§!
S
0 3 fcyO
3
©
l
is 1
if
III
0 © tao
102.
100.
104.
108.0
109 *
111.
115.9
113.6
117.4
126.2
128.2
128.5
107.5
110.0
109.1
112.5
108 0
107.2
108.9
112.8
108.1
116.8
109.1
114.7
104.0
100.9
101.0
106.5
112 8
115.8
119.5
116.6
118.6
126.8
135.9
135.4
109.5
103.7
101.4
110.7
118 0
113.4
117.1
115.4
132.1
123.0
130.2
122.9
106.3
105.3
110.9
113.0
118 9
116. 3
120.2
120.2
123.9
125.9 138.0
123.9 132.1
127.6 126.3
98.2
102.1
103.3
104.5
103 2
104. 4
87 2
97.4
111.0
115.3
112.8
115.2
96.0
93.9
99.9
104.3
104 5
110.2
118 6
112.1
117.8
127 1
135.2
135 8
106.
99.7
106.1
107.6
112 0
107.9
113.5
108.1
.
114.4
112.2
114.4
114.4
115.4
121.9
116.3
119.4
125.5
123.0
128.3
134.6
110.4
109.5
111. (
111.6
111. 5
117.9
110.8
112.8
118.9
116.0
118.8
123.0
118.0
114.6
120.4
114.5
114.1
176.7
71.0
98.8
118.7
119.2
125.4
127.8
112.4
111.8
113.8
115.3
116.9
121.8
120.2
126.0
126.4
126.6
127.3
133.9
114.2
112.8
105.4
94.8
105. 7
110.8
101. 7
114.8
127.6
108.2
116.0
116.3
117.0
109.1
108.2
104.2
101.3
114.4
115.3
96.8
113.2
102.7
120.9
121.2
113.3
116.0
114.6
112.8
116.8
129.8
119.0
119.9
122.3
127. c
135.3
132.8
109.6
108.5
111.6
112.2
114.5
115.4
111.0
122.0
126.2
126.6
131.8
144.1
106.8
110.6
107.8
113.0
110.6
107.2
121.6
111.0
116.0
96.0
107.3
116.9
118.6
114.1
119.4
123.6
124.'
133.6
128.0
124.1
128.8
112. { 123.]
111.9 122.7
112.7 134.9
119.9
114.9
123.0
118.9
120.5
131.8
108.9
117.1
124.7
124. <
126.5
129.9
112.9
114.2
116.8
114.2
117.7
128.6
111.6
115.0
117.7
111.3
121.6
121.5
123.4
110.8
111.0
117.1
101.8
116.4
118.5
125.3
135.4
143.8
134.2
138.5
126.0
119.9
124.^
122.6
127.3
133.5
132.3
138.3
144.7
143.2
155.7
168.]
135.8
124.4
127.3
121.4
121.3
123.1
117.2
122.6
128.6
118.8
132.3
131.8
127.2
123.2
126.7
124.3
135.0
142.4
138.8
144.8
144.0
143.1
160.1
179 2
111.1
113.4
115 0
122.9
125 2
129.1
129.5
131.2
117.5
132.4
127.4
138 5
114.6
111.0
120 2
118.3
120 3
127.2
125.8
127.6
136.2
138 6
146.3
159 6
122 2
123.0
127.2
129.4
135.7
142.9
144.5
149.3
155.7
163.3
164.0
171.5
110.7
107.7
116.2
107.5
117.5
120.9
109.0
114.0
127.2
123.5
134.9
135 2
126. 3
118.0
123 2
121.6
126 5
134.3
135.6
143.3
153.5
150 3
168.1
187 8
_
134.3
142.2
147.0
151.1
164 2
168.9
172.5
182.2
179.2
176.7
178 4
180 2
120.8
126. 7
130.7
135.3
148.8
152.9
157.2
164.0
162.0
161.5
163.9
167 0
125.4
132.2
131.0
141.2
164 1
156.7
144.6
157.3
170.0
110.6
150 0
146 6
145.0
148.6
152.8
173.8
171 6
183.9
192.1
200.5
202.5
178.1
199 7
199 9
112.8
118.7
126.0
139.5
143 8
150.3
160.8
169.2
160.2
154.9
155.1
141 6
109.4
128.7
168.6
72.6
155 4
175.3
193.9
171.6
157.5
158.1
170.0
158 8
129.2
131 9
131.4
133.8
144.8
141.4
146.9
160.6
170.6
155.6
162.4
152 9
124.8
134.3
142.8
162.6
167.3
187.9
191.5
194.7
178.8
186.8
171 1
181 9
116.4
121.3
126.2
125.5
150 6
153.8
157.5
170.0
169.8
183. 2
183 6
186 7
114. 7
114.3
120.6
126.3
135.3
133.0
135.7
140.5
140.1
141.0
139.2
151 5
133.8
142.9
146.2
154.7
162.5
168.4
179.4
185.4
186.3
190.6
193.4
196 9
117.7
133.2
137.8
147.4
152 1
169.3
167.6
173.2
177.5
180.6
188.2
189 4
119.6
125.6
124.7
127.3
133 4
129.0
132.8
134.8
134.6
124.7
137 2
139 1
143.0
155.3
143.2
153.1
165 9
171.0
185.4
197.4
188.0
182.6
186 9
173 5
173 4
186.8
194 0
196.6
208 7
215 3
216.7
234.8
228 9
220.8
220 3
218 4
138.3
152.5
156 5
156.9
165 2
169 3
161.8
170.8
175.7
160.5
158.0
170 2
181.1
204 5
213.3
211.6
222 6
226 1
242.6
273.8
263.4
242.6
240 1
223 7
144 3
159.3
164 9
171.8
187 5
202 0
198.0
205.0
218.5
202.9
203 2
186 2
153 4
157.8
160 1
170 8
180 2
185 1
200.2
201.5
196 0
192.1
201 7
203 8
179.7
188.9
187.2
197.8
210 0
218 0
226.7
243.3
231.6
232.1
241 9
227 0
155.7
143.6
146 7
156.9
161 0
171 3
158.7
175.9
181 0
173.9
187 0
153 5
192 6
206.7
219 7
219 6
234 3
241 4
240 0
262.4
252 0
247.9
242 7
246 6
194 3
191 4'
186.91
188 4
184.8
179.5
184 8
182 5
186 1
195.9
193 8
190.0
183 2
181.0
177.9
181.5
180.7
177.6
188.4
179 8
183.8
198.6
197 0
196.6
185 1
158.7
159.6
162 5
173 4
169. 3
190 0
187 4
207 9
287.6
195 9
198.9
210 3
210 8
206.6
198 7
204 2
193.4
198 7
191 3
189 7
209.5
218 1
223 2
163 8
163.8
158.3
162 7
160.7
158.9
165.2
163 9
169.8
173.8
182 7
194.8
157 0
158.2
161.7
179 4
163.7
184.2
172 2
205 1
188 8
186.5
178 2
178.9
167 2
165.6
169.1
165 0
169.8
163.8
177.4
179 5
191.4
225.2
183.5
175.3
201 9
218.0
220.3
241 7
229.4
224.71
235.2
205 5
199.5
235.4
237 1
244.1
216 3
202 0
200.1
205 5
206.1
211.0
206 6
205 6
225 7
246.6
244 3
239.0
167 2
158.8
150.5
158 5
163.9
161.4
171 0
163 3
169.0
175.5
176 2
174.5
214 4
215.1
213.1
186 9
182.5
166.0
160 6
150 4
152 2
157.1
168 9
168.5
190 3
190.4
175.6
172 9
175.6
145.5
163 8
161 4
155 1
166.0
183 0
167 6
144 0
139.1
140.9
144 4'
139 5
146.0
147 7
148 6
154 6
160.0
149 5
144 6
179 9
207 3
218.9
205 6
189 7
191.8
198 7
201 0
187 0
192.3
202 8
218.4
226 2 155 3 245 8 229 7 238 1 249 3 166 5 248 5
221 4 130 2 264 6 243 8 237 6 261 7 182 5 235 9
213.1 100.8 228.6 242.1 224 5 256.8 177 3 244 4
208 5 78 3 229 7 256 0 216 1 263 3 176 7 240 5
196 8 64 8 216 2 216 3 196 2 249 2 175 9 234 5
185.1 55.0 191.9 206.7 191.1 239.5 172 0 223 2
185 8 55 7 202 8 195 7 181 4 238 8 179 2 223 7
190 3 56 1 225 1 169 8 196 6 238 7 185 0 228 7
192 8 60 5 216 2 169 7 180 4 231 0 160 8 241 9
188 1 58.5 216 1 170 4 175 9 230 3 178 2 230 8
184 7 61 2 214 6 175 4 170 4 228 2 171 6 222 9
170 8 57 6 176 8l 151 8 171 4 201 4 143 8 216 3
_
1942:
January
February
March.
__ ._
April
May
June
July
August
September
October _
_.
November
December.
1943:
January
February
March
April
May
June
109.5
103.4
102.0
111.4
10S 1
94.6
98.4
108.5
113.6
114.5
116.4
113.3 130.5
101.0
99. c
102.0
102.3
100 2
101.8
106. C
104.1
109.1
107.6
108.4
If
cc.g
!H
"Sis
8
O
Durable goods establishments
102.2
104.8
107.2
107.4
110.1
111.1
106.2
106.6
109.7
195 5 202 0 239 0 200.0 169 4 184 3 200 1 272 9 231 2 180 4 170 5 163 3 158 6 231 0
199.0 ; 201.4 218.81 226 0 164.2 195.1 204.2 276.6 234.4 181.0 176.6 153 9 159 9 225 9
„
191 3 193 2
196 6' 196 9
196.4 198.2
199.0 202.0
227 9
217 2!
214.3
215.1
218 1
225 7
214.0
243.4
164 3
163 7
178.3
209.4
208 5
189 8
192.2
191.5
192 3
195 4
184.0;
182.9
260 7 231 4
250 6 226 6
246.0 227.9
281.6 223.0
165 9
176 8
186.4
192.3
163 9
191 1
183.0
192.3
157 5
152 2
139. 2i
136.1
162 1
165 1
158.4|
165.5
209 0
228 7
226. 6
210.2
176 6
192 1
185 7
195 9
191 3l
190.4
54 3
54 9
48 8
58 5'
58 9
62.21
189 2 219 3
181 Q 203 3
179 6 203 1
174 6 190 1
157 3 188 4
149.2 200.2
184 4
204 1
196 5
196 8
184 3
193.9
226 2
244 0
231 8
230 0
227 8
225.0
161 1
217 2
189 6
198 1
189 9
192.2
208 8
237 7
233 1
256 2
252 9
249.8
See note 1 for table 3.
months of this year. Contributing to these increases
was the fact that wholesalers shifted to new lines where
supplies were relatively plentiful.
one-third gain was due to a major extent to the tax
increase. Sales of jawelry and optical goods establishments also increased almost one-third with many of
these goods coming out of irreplaceable stock. This
Sales by Kinds of Business
high level of sales is not expected to continue despite
In analyzing wholesale sales by kinds of busioess the fact that consumer demand for these products will
some interesting contrasts are apparent. Chart 2 continue strong.
shows the range of variation in the change in sales for
The gains in the other kinds of business also reflect
19 kinds of businesses from the first 6 months of 1942 increasing demands of consumers for the relatively less
to the first 6 months of this year. With few exceptions, scarce goods. Other substantial increases occurred in
the nondurable goods establishments showed increases sales of coal dealers and industrial chemical establishin sales. Largest increases occurred in sales of beer, ments. In the former case large orders were placed
wines, and liquors, jewelry, dry goods, drugs, tobacco, with coal and coke wholesalers in anticipation of shortfoods. In the case of beer, wines, and liquors, the ages resulting from coal strikes. Demands arising
Digitized and
for FRASER
20
SURVEY OF CURRENT BUSINESS
from war needs for industrial chemicals accounted for
the gains in their sales, although in recent months the
rate of gain declined somewhat.
Increasing shortages of some of the nondurable goods
are reflected in little change or even declines in wholesale sales. Inability of wholesalers fully to replace
stocks of clothing and shoes resulted in little change in
the sales of these products. Increasing shortages of
paper and its products are shown in the rapid decline
in sales in recent months—with sales in the first half of
this year almost 5 percent below the first 6 months of
last year. The reduction of 13 percent in wholesale
sales of petroleum and products is the result of transportation difficulties and rationing of these products.
In contrast to the general rise in sales of nondurable
goods establishments, most businesses selling primarily
durables showed declines since the early part of 1942.
Sharpest cuts occurred in wholesale sales of automotive
products. Since the rationing of automobiles, most of
the sales of these establishments have been of used cars
&nd automotive parts and accessories. Sales of electrical goods, and furniture and housefurnishings also
declined sharply, as output of the consumer goods sold
by these wholesalers was drastically curtailed or completely stopped.
Table 5.—Comparative Changes in Sales of Wholesale Establishments and Sales of Retail Stores for Specified Kinds
of Business
Percent change first half
1942 to first half 1943
August 1943
Of considerable interest in the analysis of sales by
kinds of business is a comparison of recent changes in
sales of wholesale and retail outlets carrying similar
types of goods. The changes in sales in the first 6
months of this year from the first half of 1942 are shown
in table 5 for 11 kinds of business. In several cases
the changes in the corresponding type of outlet are in
Chart 4.—Percentage Change in Wholesalers' Sales, First Half
of 1943 From First Half of 1942, by Kind of Business
PERCENT
0
-60
+40
+60
BEER, WINES AND LIQUORS
I
JEWELRY AND OPTICAL GOODS
I
FARM SUPPLIES
DRUGS AND SUNDRIES
I
COAL AND COKE
I
TOBACCO AND ITS PRODUCTS
LEATHER AND FINDINGS
I
FOOD OTHER THAN GROCERY
I
FARM PRODUCTS-RAW MATERIALS
GROCERY
CHEMICALS (INDUSTRIAL)
CLOTHING AND FURNISHINGS
i
MISCELLANEOUS
!
Y, EQUIPMENT, AND SUPPLIES
SHOES
PAPER AND ITS PRODUCTS
HARDWARE
I
I
I
!
LUMBER AND BUILDING MATERIALS
I
I
FURNITURE AND HOUSEFURNISHINGS
PETROLEUM AND ITS PRODUCTS
Kind of business
Wholesale
establishments
ELECTRICAL GOODS
Retail
stores
AUTOMOTIVE
DO. 43-434
Source: U. S. Department of Commerce.
/e welry
Farm supplies....
Dry goods.__
Drugs and sundries
Food
Apparel, excluding shoes..Shoes
Hardware
Lumber and building materials..
Furniture and housefurnishings.
Petroleum and its products
-
31.6
30.8
24.1
18.3
12.7
8.5
-3.9
-8.5
-8.6
-12.7
-13.0
42.3
28.6
31.7
25.4
10.4
28.9
15.9
-4.3
L2
-19.9
Although sales of building materials and hardware
establishments increased in 1942 as the result of the
peak level of building activity in that year, the curtailment of construction activity both on government and
private account has been reflected in the 9 percent
decline in the wholesale sales of these products in the
first six months of this year from the first half of 1942.
Wholesale sales of the machinery and metal establishments amounted to 12.5 billion dollars in 1942, almost
equal to 1941. Most of these products were for industrial use, either for direct war work or for use in the conversion process. Curtailment of private expenditures
for plant and equipment, however, and the tendency to
bypass wholesalers in the purchase of industrial equipment and supplies, have cut into the sales of these
products in recent months.
close agreement. In most lines of trade, however,
retail sales have shown either larger increases or smaller
declines than wholesale sales. Part of this is due to
the lack of exact correspondence between the goods sold
in a particular business by the two outlets. But the
principal reason for this tendency is that retailers had
built up their inventories to a greater extent than wholesalers and were thus able to make greater sales by drawing on stocks. This was particularly true of jewelry,
apparel, hardware, and furniture stores.
Wholesalers' Inventories at Low Levels
In view of growing scarcities of goods, wholesalers
also depleted their stocks to maintain the recent high
sales volume. Since the beginning of 1942 the heavy
demands made by their customers and the inability to
replace many scarce goods forced wholesalers to liquidate one-fifth of their aggregate inventories. During
the second quarter of this year the average value of
inventories held by wholesalers w^as almost at the same
level as in the first 3 months of 1941, despite the fact
that sales were 40 percent greater (seasonally adjusted)
SURVEY OF CURRENT BUSINESS
August 1943
over the same period. Some wholesale houses deliberately planned a curtailment of their inventory holdings in recent months in accordance with War Production Board Wholesale and Retail Inventory Limitation
Order L-219. Although this had little effect on total
inventory liquidation, it affected a more even distribution of existing supplies.
As of the end of June 1943, the book value of inventories held by wholesalers amounted to less than 4 billion dollars. This is only one-seventh greater than the
value of inventories held in June 1939, prior to the
outbreak of war. When it is considered that wholesale prices of commodities handled by wholesalers rose
42 percent from June 1939 to June of this year, it is
clear that the present physical holdings are much lower
than in 1939. Yet this lower volume is used to support
a sales volume which was over 85 percent higher in
dollar total, or about 40 percent greater in physical
quantity. This, of course, implies a much more rapid
inventory turn-over, but it is evident that from now on
little can be done to make more goods available to
customers by drawing down the average inventory
Chart 5.—Relationship Between Inventories and Sales of
Wholesalers, Adjusted for Seasonal Variation
5.0
4J
r*/942
4.5
31
\
19
V
19 43
1940
1939
3.0
12
of new supplies of these goods will ultimately depend on
the available manpower. Already labor shortages are
being felt in certain areas and in certain industries.
As more men are drawn into the armed forces and into
our war industries, the civilian segment of our economy
will feel increasingly the pinch of lack of manpower.
Thus, wholesalers will find it increasingly difficult in
the coming months not only to get new supplies but
also to maintain their organizations and the services
which they have been rendering.
Methods and Sources of Data
The monthly estimates of sales of wholesalers were based on sales data for 25 types
of wholesale business; 9 types selling primarily durable commodities and 10 selling
primarily nondurable commodities (Sec table 6). The 1939 Census of Business was
used as a basis for both definitions and the 1939 sales levels. The estimates for 1929,
1933, and 1935 are based on the Census of Business for those years, with minor adjustments for comparability with the 1939 data. The estimates both for the total and the
several kinds of business include the following types of wholesalers: Service and
limited-function, manufacturers' sales branches (both with and without stocks),
agents and brokers, and assemblers. According to the definition of the Bureau of the
Census, a business is classified as a wholesale unit when the major portion of its
sales are for resale or productive purposes.
It should also be noted that these estimates do not represent sales by commodities,
but rather the sales of wholesalers classified under the commodity which accounts for
their major source of income. This distinction probably takes on more importance
in the current period when shortages of some commodities encourage shifts to new
lines of merchandise.
Size and Kind of Sample.
All of the series, with the exception of "farm products—raw materials," for the
noncensus years and for the months from 1939-43 were based on monthly sales reported by 36 types of wholesalers to the Current Statistical Service of the Bureau of
the Census. This sample consists of approximately 2,800 wholesalers with sales
totaling around 3 to 4 billion dollars per year. The sample represented 5.0 percent
of the 1939 census volume of sales (excluding "farm products—raw materials") and
5.4 percent of the estimated 1942 sales. By types of business the size of the sample
ranged from 1 to 45 percent. The cooperating wholesalers report their sales for the
current month, the preceding month and the same month last year. The reported
sales are then translated into month-to-month and year-to-year percentage changes.
The inherent defect in this type of "identical" sample is that it measures the changes
only in establishments which are in business in successive periods. The fact tbat
it in no way corrects itself for the rate of "birth and mortality" among establishments
in the wholesale field, seriously affects the representativeness of the sample. The
1939 Census of Business showed an increase of 17 percent above 1935 in the wholesale
population. The effect of the increase in the number of establishments was not
reflected in the census sample. In fact, for the period 1935-39 the sample showed a
downward bias in sales in each series when compared with the census changes, the
average discrepancy for all the series amounting to 12 percent. Table 6 summarizes
the amount of bias involved in each series. The fact that the bias was less than that
indicated by the change in the number of establishments probably resulted from the
relatively better position of the older and more established firms.
Construction of Series.
16
20
24
SALES, TOTAL FOR QUARTER (BILLIONS OF DOLLARS)
28
DO. 43-4IB
Source: U . S . Department of Commerce.
level. Wholesalers must carry a minimum amount of
stock in order to achieve any degree of efficiency in
doing business. Although this minimum point cannot
be determined specifically, the fact that wholesale inventories have shown little or no change in the 6 months
ending June of this year suggests that the present level
is near the minimum point.
It follows from the foregoing analysis that to maintain
their current sales volume in the coming months,
wholesalers must depend almost entirely on the availability of new supplies of goods. Since the bulk of
goods sold by wholesalers is for civilian use, the volume
21
For each of these 25 types of business, estimates of aggregate dollar sales and daily
average indexes both unadjusted and adjusted for seasonal variations were derived—
annually for the periods 1929, 1933. and 1935-42, and monthly from January 1939
to date. In the case of almost the entire series, data were available monthly from
1935. These data were used in deriving seasonal adjustment indexes and in the determination of the amount of correction necessary to adjust to both the 1935 and 1939
Census of Business levels.
The utilization of the data of the Bureau of the Census in deriving these series
was, briefly, as follows: An index (1939=100) was built up from 1935 to date by using
both the month-to-month and year-to-year percentage changes for each of 25 groups.
These indexes were then applied to the monthly average dollar sales of these groups
for 1939 as reported in the Census of Business for that year. The 1935 sales as shown
in the resulting series were then compared with the sales reported by the Census of
1935 in order to determine the bias. The series was corrected and adjusted to both
the 1935 and 1939 censuses by a "straight line" method.
Briefly, this method of developing correction factors for each series was to center
the entire amount of bias between June and July of 1935, and then to decrease it, by
equal monthly amounts, reaching a correction of 0 in the middle of 1939, since the
series had originally been adjusted to the level of that year. These factors were
applied to the dollar values—the result being a series corrected to both the 1935 and
the 1939 Census of Business levels. This adjustment was carried forward through
the middle of 1942, when it was discontinued because there was evidence pointing
to the fact that the wholesale business mortalities exceed the new entrants into the
field in the current period. Thus in 1943 it is assumed that the sample adequately
reflects the changes in sales.
Since the sample was not always available for each type of business as far back
22
SURVEY OF CURRENT BUSINESS
as 1935, it was occasionally necessary to use other means of interpolating some of the
inter-censal years. Sales of retail stores were used in estimating the volume of sales
in 1936 for the beer, wines, and liquors, and the coal and coke establishments. The
Census Survey of Business, 1937-38 was utilized in determining the 1936 sales of
wholesalers of farm supplies. Sales of industrial chemicals for the years 1936, 1937,
and 1938 were based on the Federal Reserve Board's index of chemicals production
and the Bureau of Labor Statistics' wholesale prices of chemicals. In each of the
series for which the sample data were available in 1935, a downward bias was discovered. Therefore, it seemed reasonable to believe that a similar bias was present
in all the above named series for which no sample data were available for 1935. Each
of these series wTas corrected by using an assumed 12 percent bias, the average for all
the groups.
Since the current reports of the Bureau of the Census do not include wholesalers
of agricultural raw materials (consisting of cotton, livestock, grain, tobacco leaf,
raw silk, etc.), data published by the Department of Agriculture were used to interpolate the monthly dollar values. Cotton sales were derived by correlation with
the physical volume of "sales at 10 markets" multiplied by the average price of
middling (i-Heths of an inch) cotton. Estimates of livestock sales were interpolated
by using the total values to the packer of federally-inspected livestock, before
slaughter, and the value of farmers' purchases of livestock. Annual estimates of the
latter item w^ere made by the Department of Agriculture and were interpolated
monthly by using the series on "stockers' and feeders' shipments to public stockyards"
multiplied by an average price for live cattle. The total sales of the raw materials
group were based on a sample consisting of the derived monthly sales of cotton and
livestock (about 50 percent of the group).
In the automotive supply series, the estimates through the middle of 1942 include
sales of new motor vehicles which had been dropping sharply since the beginning of
that year. Due to the curtailment of automobile production and the resultant high
demand and low supply, these wholesalers, for the most part, began to sell their
stocks in the retail field, and, by definition, ceased to be wholesalers. Thus the series
in recent months includes only sales of parts and accessories and used cars.
The dollar estimates for the 19 types of wholesale business obtained by the method
just described were combined into total, nondurable goods, and durable goods establishments groups. The basis of classification by durability was whether the principal product sold was of a durable or nondurable character, i. e., if it takes 3 or more
years before being finally consumed, it is classified as a durable product, and less
than 3 years, a nondurable product. The miscellaneous group was classified with
the nondurables. It consists mainly of farm supplies, leather and findings, books,
newspapers, and periodicals, and general merchandise.
Seasonal Adjustment.
The dollar series wTere adjusted for number of working days and for seasonal variations. Very little information is available on the actual number of working days
by kind of business. Hence the adjustment for number of working days has been
made on an arbitrary basis. A standard hVi day work-week was assumed for each
kind of business. Also, the following holidays were not counted as working days:
New Year's Day, Memorial Day, July 4, Labor Day, Thanksgiving Day, and Christmas Day. Each of the series was then adjusted to allow for the number of working
days and converted to an index with 1935-39 average as a base.
In general, the daily average indexes for each kind of business w^ere adjusted for
seasonal variations by the ''ratio to the moving average" method. In most cases
the seasonal factors wrere determined by the use of monthly data covering the period
1935-43. In a few of the individual series, significant shifts in the seasonal movement
were noted, especially during the war period. Where data were available for a sufficiently long period, shifting seasonal index numbers were derived and used. On the
sale of farm supplies series, the wide range of the seasonal swing necessitated using
the absolute differences from the moving average instead of the ratios. The same
method was used in determining seasonal factors for the "farm products—raw materials" group.
The separate indexes were combined into total, nondurable goods, and durable
goods establishments groups by weighting according to the relative proportion of the
sales for each group to total sales in the base period 1935-39. The relative weights
used for the kinds of business are shown in table 6.
Prices of Goods Sold by Wholesalers.
In the analysis of the changes in the quantity of goods sold by wholesalers, the effect
of price changes was removed from the dollar sales estimates. For this purpose, a
special price index applicable to goods sold by wholesalers was constructed by kind of
business. The basic price series were based mainly on the Bureau of Labor Statistics'
data on wholesale prices. However, since that Bureau's price data are based on commodities while the wholesalers' sales are based on type of business, it was necessary
to regroup some of the commodity prices and reweight them according to their relative
size in the Census of Business classifications.
Also included were wholesale price series for jewelry, wines, beer, liquors, and farm
supplies w^hich were not available from the Bureau of Labor Statistics. The source
August 1943
of the farm supplies series was "prices paid by farmers" for selected commodities, a
series released monthly by the Department of Agriculture. The beer, wines, and
liquors prices were based on prices in nine "monopoly" states. The jewelry series
wras based on studies by the National Income Unit of the Bureau of Foreign and
Domestic Commerce.*
The separate price indexes by kind of business were combined into a total byweighting according to the relative importance of the kinds of business in the period
1935-39. There was, however, no appreciable difference between the Bureau of
Labor Statistics' wholesale price index of all commodities and the derived series.
The largest discrepancy for any one year was 1 ^ percent.
Table 6.—Relative Importance of Wholesale Business Groups
and the Percentage Errors of Samples Used in Estimating
Wholesale Sales
Kind of business
Durable goods
Automotive
Building materials and hardware
Lumber and building materials
Hardware
Housefurnishings and
electrical goods
Electrical gpods 3
House furnishings
Jewelry and optical goods.
Machinery and metals
Machinery, equipment and supplies
Metals, excluding scrap
Nondurable goods
Clothing and furnishings
Clothing
Shoes
Beer, wines, and liquors
Chemicals (industrial)
Coal and coke
Drugs and sundries.
Dry goods
Farm products, raw materials
Food
Groceries
Other
Paper and its products
Petroleum and its products
Tobacco and its products.
Other wholesalers.
Farm supplies
Leather and findings
Miscellaneous "
1935-39
annual
average
sales (millions of
dollars)
Percent
error of
Weight
sample
in total
from
index
census,
1935
(percent) compared
with 1939 i
13,191
2,623
2,732
2,118
614
2,104
1,527
577
357
5,374
2,953
2,421
38,189
1,543
1, 275
268
1,532
475
921
736
2,923
6,742
12, 672
8,464
4,
909
3,734
1,
4,308
525
230
3,553
1
Using 1939 as 100, the percentage change 1935 compared with 1939 was computed
for the sample and census total; the percentage error was then determined from the
ratio
of the sample change to the census change.
2
Includes paints and varnishes.
3
Includes household appliances, wire and wiring supplies, electrical merchandise,
equipment,
supplies, etc.
4
Sample not available in 1935.
5
Includes cotton, grain, livestock, horses and mules, hides and skins, wool and
mohair,
tobacco leaf, etc.
6
Farm products, or consumer goods: Fresh fruits and vegetables and dairy and
poultry
products.
7
Includes feed, seed, fertilizer, etc.
8
Consists mainly of newspapers, books and periodicals, chemicals other than
industrial, general merchandise, etc.
Need for Series.
It is believed that these estimates of wholesalers' sales give a reasonably accurate
representation of the actual movement of sales over the period covered. However,
the relatively large bias and the smallness of the sample in some of the series indicate
the necessity of a great deal of further study and the uses of other sources of data for
the derivation of more reliable series. More intensive work is now being undertaken in this direction and it is hoped that more refined series will be available upon
completion of this work.
The advent of the war and the realization of the importance of a sound civilian
economy in the furtherance of the war effort have caused an ever-growing demand
for statistics on the wholesale field. This is because such data are so indispensable
in any study and planning of civilian requirements. Thus, it is felt that the urgent
need for some measurements of this large and important segment of our economy
justifies the immediate release of this series.
4
See "Price Deflators for Consumer Commodities and Capital Equipment, 192942," by Henry Shavell, Survey of Current Business, May 1943, pp. 13-21.
23
SURVEY OF CURRENT BUSINESS
August 1943
Incomes in Selected Professions
Part 2, Legal Service
By Edward F. Denison, National Income Unit, Bureau of Foreign and Domestic Commerce
Editor's Note.—This is the second of a series of articles
presenting the results of questionnaire surveys of incomes in selected professions. Data for veterinarians
were published in the July 1943 Survey of Current
Business. Data for dentists, physicians, and private
duty nurses will be published at an early date.
T
HE total gross income of the legal service profession in the United States reached an estimated
927 million dollars in 1941, 6.4 percent above 1940 and
9.6 percent above 1931, the pre-1940 peak year. Total
net income also reached a new high in 1941 at 615
millions.1
The large increase in the number of lawyers from
1929 to 1941 prevented average earnings from pursuing
a similar course. For independent practitioners the
average gross and net income in 1941 were well below
the 1929-31 levels, though above the intervening years.
Estimates of the total and average gross and net income
of independent practitioners from 1929 to 1941 are
shown in table 1.
advice and cooperation. Questionnaires were mailed
to a representative sample of 20,000 lawyers, who were
asked to give information relating to gross and net
income, costs, employment, pay rolls, and other items
for the years 1936, 1937, 1939, and 1941.
The total number of employed lawyers and judges
in the United States in 1940 is given by the 1940 Census of Population as 177,643. On the basis of data
derived from the same source it is estimated that of
Chart 1.—Gross Income of Lawyers in Independent Practice
MILLIONS OF DOLLARS
I2OOI
THOUSANDS OF DOLLARS
12
1000
TOTAL GROSS INCOME
(LEFT SCALE)
800
600
AVERAGE GROSS INCOME
(RIGHT SCALE)
Table 1.—Estimated Number and Income of Lawyers in
Independent Practice, 1929-41
400
1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941
D. D. 43
Number
in independent
practice
(thousands)
Year
1929
1930.
1931
1932
1933_
1934
1935..
1936
1937
1938
1939
19401941
_
.
_
.
i
104
108
113
114
116
116
119
120
122
124
126
128
128
Total income
(millions of dollars)
Gross
830
819
846
717
688
740
704
790
828
809
839
871
927
Net
571
557
574
470
447
488
506
525
549
531
553
575
615
Average income
(dollars)
Gross
7,997
7,594
7,463
C. 297
5,923
6, 362
6, 424
6,581
6,726
6, 470
6,615
6,747
7, 172
Net
5,534
5,194
5,090
4,156
3,868
4,218
4,272
4,394
4,483
4 273
4,391
4, 485
4,794
NOTE.—Trie number in independent practice includes all lawyers deriving more
than one-half of their total net income from independent practice. The total income
figures include gross and net income from independent practice both for lawyers
earning all their professional income from independent practice and for part-salaried
lawyers. The average income series represent the average income of lawyers earning
their entire professional income from independent practice.
Failure of incomes to regain their predepression
level caused average net earnings of independent
lawyers to drop from first place among the three major
independent professions to a position below physicians
but still substantially above dentists.
The 1942 Survey.
The fourth Bureau of Foreign and Domestic Commerce survey of economic conditions in the legal profession was conducted in the early summer of 1942.
As in the past, the American Bar Association furnished
i Reliable data for 1942 are not available, but there are indications that 1942 incomes
dropped substantially below the 1941 level.
-439
Source: U. S. Department of Commerce.
this number, 128,093 were primarily engaged in independent practice, 20,247 were employed by these independent practitioners, and 29,303 (including, of course,
all the judges), were employed by nonlegal firms or
government units. With the exception of the figure
for independent practitioners, however, these data are
inflated by the inclusion of law clerks who had not yet
passed the bar examination and who were not considered to be lawyers in the present survey. This factor
especially affects the figure for lawyers employed by
other lawyers.
The questionnaire survey was confined to independent practitioners and the lawyers they employed, who
together represent lawyers employed in the legal
service industry. However, all part-salaried lawyers
were eligible for inclusion in the survey, regardless of
the source of their salaried income. The sample of
returns which w^as used to obtain net income in 1941
consisted of 2,099 nonsalaried lawyers (those deriving
their entire professional income from independent
practice), 307 part-salaried lawyers (those engaged
both in independent practice and in salaried work),2
and 231 all-salaried lawyers. It is estimated that the
return for 1941 represents 17 percent of the eligible
2175 of the part-salaried lawyers received a net income from independent practice
in excess of their total net income from salary.
24
SURVEY OF CURRENT BUSINESS
lawyers who received questionnaires, though slightly
less than 2 percent of the total number of lawyers in
the legal service industry. In the calculation of the 17
percent, schedules received by lawyers ineligible for
the survey and schedules returned by the Post Office
as undeliverable were excluded.
Members of partnerships were treated in the survey
as independent practitioners, whereas so-called uassociates" who receive a percentage of the gross income
from cases they originate or handle, but assume no
responsibility for the firm's expenses, were defined
as salaried employees.
Special care was taken to obtain a proper distribution of returns as between members of partnerships
and lawyers practicing alone. Schedules were mailed
to a representative sample taken from a complete
list of lawyers (not law firms). Members of partnerships were asked to give both their own and the firm's
net income, and to give gross income, pay roll, and other
items for the firm as a whole. In the editing process
the lawyer responding was then assigned the same percentage of the firm's gross income, payroll, etc., as his
personal share of the net income was of the firm's net
income.
Income of Lawyers in 1941.
Table 2 shows the average and median 1941 net
incomes of lawyers in the legal service industry together
with a percentage distribution of the returns by net
income classes. Examination of the distribution indicates that incomes in the profession are very unequally
distributed. As a result the average (arithmetic mean)
income is not representative of the distribution. For
all lawyers in the legal service industry, the average
net income in 1941, was found to be $4,832, while the
median was S3,230.3 More than one-fourth of the
lawyers reported net incomes below $2,000.
Among the nonsalaried lawyers, who represent about
four-fifths of the total sample, only 29.4 percent received
an income as high as the average of $4,794. The
median net income of $2,960 furnishes a much better
guide to the earnings of the ordinaiy nonsalaried lawyer.
In the following tables median incomes, as well as
averages, have been shown wherever they are
appropriate.
Table 3.—Average and Median Net Income of Lawyers by
Size of City, 1941
All reporting lawyers in the
legal service industry 1
Population of city
(thousands)
Total-
Item
Number reporting. . .
Average net income. _
Median net income
.
2,637
$4, 832
$3, 230
Nonsalaried
2,099
$4, 794
$2, 960
Partsalaried
307
$5. 204
$4; 210
Allsalaried
231
$4, 683
$3, 938
82
162
183
187
286
180
191
233
277
816
40
$2,537
2,929
3,253
3,662
4,104
4,343
5,080
4, 634
5,381
6,212
5,344
$2,000
2,483
2,693
2,990
3,188
3,467
3,646
3,536
3,536
3,674
2,400
70
138
160
141
241
145
159
175
233
608
2,637
4,832
3,230
2,099
$2, 486
2,851
2,959
3,697
3,952
4,372
5,071
4,487
5,442
6,387
$1,900
2,420
2,500
2,940
2,865
3, 375
3,725
3,205
3,450
3,071
29
4,794
2,960
I
* Includes returns from part-salaried and all-salaried lawyers for w^hom separate
data on average and median net income wTere computed by size of city only as follows
(separate figures were not computed for size-of-city groups for which there were less
than 30 returns):
Part-salaried lawyers
Population
of city
(thousands)
Lawyers classified by type of
income
Nonsalaried lawyers
Number Average
Numberj Average Median
net
reportnet
net
reportnet
ing
income income
ing
income income
Under 1
1, under 2.5...
2.5, under 5 . . .
5, under 10__.
10, under 25_ _
25, under 50. _
50, under 100.
100, under 250
250, under 500
500 and over. Unknown
Table 2.—Average and Median Net Income and Percentage
Distribution of Lawyers by Net Income Classes, 1941
All reporting lawyers
in the legal
service
industry
August 1943
Num- Aver- Meber
age
dian
report- net
net
ing income income
5, under 10
10, under 25
100, under 250-.500 and over
TotaL_
_.
43 $3, 564 $3,188
40 5, 063 4,333
36 5,090
4,000
75 6,993
5,917
307
5,204
All-salaried lawyers
Population
of city
(thousands)
500 and over
Total
Num- Aver- Meber
age
dian
report- net
net
ing income income
133 $4, 974 $4, 338
231
4,683
3,938
4,210
Percentage distribution by net income classes 1
Net income class:
Loss: $l-$2,999
$0-$499
$500-$999
$l,000-$l,499
$l,500-$l,999._.
$2,000-$2,499__._
$2,500-$2,999
$3,000-$3,499_._
$3,500-$3,099
.
$4,000-$4,999
$5,00O-$5,999
$6,000-16,999 _ .. .
$7,000-$7,999
$8,000-$8,999__._
$9,000-$9,999_.._. .
. . .
_
.
. .
$10,000-$14,999__.
$15,000-$19,999
$20,000-$24,999
$25,000-$ 19,000
$50,000-$74,999
$75,000-$150,000
.. „..
0.4
0.5
3.5
5.8
7.6
9.7
9.9
9.7
7.5
6.5
42
7.1
8.3
10.5
10.6
9.7
7.0
5.9
0.7
1.3
6.2
6.8
7.8
9.4
7.5
6.8
0.9
.4
3.0
6.5
6.5
9.5
12.6
12.1
10.2
7.1
5.5
3.5
2.6
1.4
8.3
6.6
4.8
3.4
2.5
1.2
15.6
10.1
9.1
4.2
3.9
1.6
19.9
7.4
7.4
3.0
1.7
3.0
5.0
1.9
.9
5.0
2.0
1.0
5.5
1.6
.7
4.8
.4
.0
.9
.2
2
1.0
.3
1.0
.9
.2
1 Totals will not necessarily equal 100.0 percent because of rounding.
The median income of all-salaried lawyers in 1941
was well above that for the nonsalaried, while the
average was slightly lower. In any comparison of
incomes of the two groups the following considerations
must be given emphasis: (1) Law clerks wTho had not
been admitted to the bar were excluded from the survey, while associates were included among the salaried
lawyers. The effect of a change in the treatment of
either group would be to lower the figures for all-salaried lawyers. (2) The overwhelming majority of the
all-salaried lawyers are employed in large cities. This
is untrue of the independent practitioners. (3) In
3 The median income, it will be recalled, is that which, when all the incomes have
been arrayed in order of magnitude from smallest to largest, exceeds the incomes of
the lawyers in the lower half of the sample, and is in turn exceeded by the incomes of
the lawyers in the upper half of the sample.
25
SUEVEY OF CUERENT BUSINESS
August 1943
contrast to the nonsalaried lawyers, the all-salaried
group contains very few old persons, whose earnings
tend to be exceptionally low.4
The highest typical incomes, measured by either the
average or the median, were reported by the partsalaried lawyers. The part-salaried group, wilich
receives income from two sources, has also reported the
highest income in every other survey of professional
incomes which the Bureau has conducted.
The size of the city in which the lawyer practices has
an important influence upon earnings. For the nonsalaried group, median earnings rise from $1,900 in
places of less than 1,000 population to $3,725 in cities
of 50,000 to 100,000 (table 3). The irregular fluctuation of median earnings between this group and the
250,000 to 500,000 population group may reflect a
sampling fluctuation. The decline which occurs for
cities over 500,000 has also been observed in several
other professions. The extraordinarily high incomes
reported by a small fraction of the lawyers in the
largest cities prevent the average from exhibiting the
same decline. The incomes of all-salaried and partsalaried lawyers are somewhat less affected by city-size
variations than those of lawyers solely engaged in
independent practice.
The importance of New York City as the largest
center for law practice warrants separate presentation
of data for its lawyers. In table 4 earnings in New
York City are compared with those in other cities over
500,000 population and in the country as a whole.
Table 4.—Average and Median Net Income of New York City
Lawyers and Other Selected Groups of Lawyers, 1941
Item
New
York
City
Other cities
over 500,000 United
population States
Far West. The Middle East, Central States, New
England, Southeast, Northwest, and Southwest followed
in that order. The ranking of the regions is the same
whether one utilizes the median or the average, tod
whether one considers all lawyers in the legal service
industry or only the nonsalaried group of lawyers.5
Table 5.—-Average and Median Net Income of Lawyers by
Regions and for Selected States, 1941
All reporting lawyers in 2the
legal service industry
Region and State
Number Average Median Number Average Median
net
net
net
reportreportnet
income income
ing
ing
income income
New England
Massachusetts
180
107
$4,279
3,902
$3,071
2,969
148
90
$4,191
3,888
$2,900
2,667
Middle East
New Jersey
._
New York
Pennsylvania . __
^Vest Virginia
739
73
444
148
37
5, 591
4,627
5,392
5,030
3,505
3,188
3,370
3,844
2, 950
564
64
335
108
29
5,478
4,508
5, 213
4,652
3,146
3,182
2,862
3,654
Southeast
Alabama
427
30
37
55
60
36
31
56
43
4,124
4, 367
3,162
3,905
4,713
3 604
3,968
3,603
3,890
3,056
3,500
2,438
3,417
2, 278
2,500
3,125
2,857
3,469
350
23
34
38
48
28
26
47
39
4,023
2,875
3,199
3,921
4,609
2, 375
2,750
2,214
3,468
3,724
2,825
3,344
186
30
143
3, 685
3,392
3,659
2, 737
2,700
2, 625
149
21
117
3,557
2,54.7
3,588
2,425
2,958
3,075
2,800
2,450
3,464
2,833
3,000
2, 725
4,050
Arkansas
Florida _._ _.
Georgia
Kpntuckv
Mississippi
North Carolina
Virginia
_._
Southwest
Oklahoma
Texas
Central States
Illinois
Indiana
Iowa
Michigan
Minnesota
Missouri
Ohio
Wisconsin.
-_
_
826
258
92
55
83
36
45
196
61
4,836
5,669
3,685
3,291
6,117
3,292
4,361
4,449
5,205
3,198
3,542
2,938
2,625
3,472
2,857
3,063
3, 045
3,813
664
199
76
51
63
30
38
154
53
4,969
5,976
3,691
3,265
6,861
3,367
4,421
4,338
5,547
Northwest
Nebraska
120
30
3,627
2,900
2, 885
3,083
95
21
3,647
2,750
Far West
California
126
87
6,071
6,733
4,000
4,375
104
69
5,846
6,453
3,600
4,042
33
6,015
2,450
25
2,637
4,832
3, 230
2,099
4,794
2,960
_.
._
..
__ __
State unknown
United States
Nonsalaried lawyers:
Number reporting..
Average net income
Median net incomeAll-salaried lawyers:
Number reporting _.
Average net income
Median net income -
214
$5,866
$2, 792
394
$6, 678
$3, 288
2,099
$4, 794
50
$5, 845
$4,700
83
$4,449
$4,188
231
$4,683
$3,938
The median income of nonsalaried lawyers in New
York City was $496 lower than the median in the
other large cities, an$ the average income was $812
lower. The New York City median fell below even
the national median. The position of all-salaried New
York City lawyers in the legal service industry was
relatively favorable. The average and median both
indicate substantially higher earnings than were
received by all-salaried lawyers in other large cities
or in the country at large.
Average and median earnings of all lawyers in the
legal service industry and of nonsalaried lawyers
separately are shown by region and by state in table 5.
The highest incomes were reported by lawyers in the
* T h e high level of average earnings for all-salaried lawyers may appear surprising.
However, data published by the Social Security Board and the Bureau of the Census
Digitized fortend
FRASER
to support this level when the proper adjustments are made for differences in
scope.
http://fraser.stlouisfed.org/
Federal Reserve539303—43
Bank of St.4 Louis
Nonsalaried lawyers
l
1 No data based on less than 30 returns are shown. The geographic regions used
in this table are those described in the June 1943 Survey of Current Business, p. 10.
In addition to the States shown in the table, the regions include the following States:
New England—Connecticut, Maine, New Hampshire, Rhode Island, Vermont;
Middle East—Delaware, District of Columbia, Maryland; Southeast—Louisiana,
South Carolina, Tennessee; Southwest—Arizona, New Mexico; Central States—
None; Northwest—Colorado, Idaho, Kansas, Montana, North Dakota, South
Dakota,
Utah, Wyoming; Far West—Nevada, Oregon, Washington.
2
Includes returns from part-salaried and all-salaried lawyers for whom separate
data on average and median net income were computed separately by region only as
follows (separate figures were not computed for regions for which there were less than
30 returns):
All-salaried lawyers
Part-salaried lawyers
Region
Middle East
Southeast
Central States___
United States..
Num- Aver- Median
ber
age
report- net in- net ining
come come
94 $6, 364
58 4,897
82 4, 588
$5, 500
4,000
3, 929
5,204
4,210
Region
Num- Aver- Meage
dian
ber
report- not in- net income come
ing
Middle East---.
Central States,..
$5, 478
3, 984
United States.
307
$4, 458
3, 714
231 I 4,683 ! 3,938
3
The average income of $6,568 obtained for West Virginia was strongly influenced
by three large returns and, in view of the low median, is not considered reliable.
Variations among states within the same region
appear to be as important as variations among regions.
In the Central States, for example, much higher in~
5 Except that the average income for all lawyers is slightly higher in the Southwest
than in the Northwest.
26
SURVEY OF CURRENT BUSINESS
comes were reported by Illinois, Michigan, and Wisconsin lawyers than by those practicing in the other
five states. Special factors leading to exceptionally
high average incomes for independent practitioners
in the District of Columbia and Delaware cause the
average for the Middle East to rise above that for
New York, New Jersey, and Pennsylvania, its most
populous states.
The position of the Southeast in the regional rankings, only slightly below New England, is of interest
inasmuch as it reflects an improvement in the relative
position of Southeastern lawyers from 1939 to 1941.
This can be seen in the following table:
Percentage increase in net
income from 1939 to 1941
All lawyers in the legal service industry:
Average income
Median income
Nonsalaried lawyers:
Average income
Median income
U
^st
11.5
19. 5
statel
9.4
11.3
11.8
11.9
August 1943
rose steadily from $2,321 for lawyers 25 to 29 years
old to a peak of $4,075 in the 45-49-year class, and
then declined regularly to $2,043 for lawyers 65 and
over. For nonsalaried lawyers separately the highest
median earnings were reported by the 50- to 54-year-old
age £roup.
Changes in Income and Costs, 1936-41.
Average and median net incomes for 1936, 1937,
1939, and 1941, the four years covered by the survey,
are reported in table 7. The average and median
income of all lawyers in the legal service industry, and
of nonsalaried lawyers separately, rose from 1936 to
1937, declined from 1937 to 1939, and rose again, from
Chart 2.—Average Income of Lawyers in Independent Practice
THOUSANDS OF DOLLARS
10 1
9. 2
9. 5
It may be noted that per capita income payments
also rose more rapidly in the Southeast than in the
country as a whole from 1939 to 1941. The median
1941 income (though not the average) for all lawyers
reporting was higher in three States of this regionAlabama, Florida, and Virginia—than in the country
as a wrhole.
Table 6.—Average and Median Net Income of Lawyers by
Age Classes, 1941
1929
I93O
1931 1932 1933 1934 1935
1936
939
1940
194!
D.D. 43-438
Source: U. S. Department of Commerce.
All reporting lawyers in the
legal service industry 1
Age class
Number Average
inreporting net
come
24 and under _
25-29
.
30-34
35-39
40-44 .
_
45-49
50-54
55-59
60-64
65 and over
Unknown __
2
92
359
478
347
260
290
211
201
256
141
Total
2,637
Median
net income
$2, 495
3, 306
4,509
5.287
6,387
5,934
6,018
4,815
3,941
4,982
$2, 321
2, 750
3,541
3, 820
4,075
4,060
3,656
2,738
2,043
3, 212
4,832
3,230
Nonsalaried lawyers
Number Average
inreporting net
come
Median
net income
1
52
233
376
287
207
246
190
172
225
110
$2, 077
3, 146
4, 363
5,097
6,527
6, 038
5, 859
4, 715
3, 576
5, 000
$1,917
2,444
3,309
3,509
3, 729
4, 000
3, 269
2,478
1,950
2,944
2, 099
4, 794
2,960
* Includes returns from part-salaried and all-salaried lawyers for whom separate
data on average and median net income were computed only as follows (separate
figures were not computed for age classes including less than 30 returns):
Part-salaried lawyers
Age class
Num- *Aver- Meberre-| age
dian
port- net in- net ining
come come
30-34.
35-39.
40-44,
45-49.
50-54_
Total..
59 !$3, 555
6,258
6,113
$2, 854
4,167
5,750
5,250
4,625
307 | 5,204
4,210
64 i 4,863
3 6,771
All-salaried lawyers
Age class
30-34
35-39.
Total
| Numj ber re! porti ing
Average
net income
67 ;$3,646
38 5,362
231
Median
net income
$3, 475
4,500
4,683
Age exercises an important influence upon the earnings of lawyers. Table 6 shows that the median 1941
net income for all lawyers in the legal service industry
1939 to 1941. Estimates of the average income of
the nonsalaried group for 1938 and 1940, based on the
movement of incomes in other independent professions, show 1938 to have been the poorest year of the
period and 1940 to have fallen between the 1939 and
1941 levels. While the direction of movement from
year to year thus follows that of general business conditions, the most striking characteristic of the period
was the stability of legal incomes. From 1936 to
1941 the median income for the nonsalaried group
rose but 11.1 percent, and the average 9.1 percent.
The average income of the all-salaried lawyers, on
Table 7.—Average and Median Net Income of Lawyers in the
Legal Service Industry Classified by Type of Income,
Selected Years 1936-41
Item
Number reporting:
All lawyers in the legal service industry
Nonsalaried lawyers
Part-salaried lawyers
All-salaried lawyers
Average net income:
All lawyers in the legal service industry
Nonsalaried lawyers
Part-salaried lawyers
All-salaried lawyers
Median net income:
All lawyers in the legal service industry
Nonsalaried lawyers Part-salaried lawyers
All-salaried lawyers
1936
1937
1939
2, 251
1.807
223
221
2,383
1, 887
257
239
2,561
2,021
301
239
2,637
2, 099
307
231
$4,411
$4, 394
$i, 929
$4, 004
$4, 511
$4, 483
$5,169
$4, 040
$4,417
$4, 391
$•1, 790
$4.190
$4, 832
$4, 794
$5, 204
$4, 683
$2, 857
$2, 665
$3. 426
I $3,229
$2, 952 $2, 901
$2, 759 $2,704
$3, 826 $3, 922
$3,364 $3, 470
$3.
$2,
$4,
$3,
230
C63
210
938
SURVEY OF CURRENT BUSINESS
August 1943
27
the other hand, failed to decline from 1937 to 1939, Analysis of the Gross Income of Lawyers.
and increased slightly more than that of the nonsalaried
One of the major purposes of the legal survey was
during the 1936 to 1941 period as a whole.
to determine the proportion of the gross income of
Of each one hundred dollars of gross income relawyers which was derived from personal legal services
ceived by nonsalaried lawyers in 1941, $16.10 was
for individuals as contrasted with legal services renused to meet pay-roll expenses, $17.10 was required
dered to business enterprises (including unincorporated
to meet other costs of practice, and $66.80 was left
businesses). This break-down of receipts is required
as net income. As table 8 shows, these relationships
for the estimation of consumer expenditures lor legal
were fairly stable during the period covered by the
services, a component of the national product, and will
survey, although pay-roll expense failed to fluctuate
also be of interest to the profession. Among the more
as much as gross income, while other costs of practice
important types of legal services rendered to individufluctuated slightly more than did gross income.
als are the handling of damage, divorce, and criminal
Table 8.—Disposition of the Average Gross Income of
cases, and the settlement of estates. Seven-tenths of
Nonsalaried Lawyers, Selected Years 1936-41
the nonsalaried and part-salaried lawyers returning
questionnaires segregated their receipts from individu1937
1941
1936
als for 1941, although in many cases the figures repreAmount:
sented estimates by the reporting attorneys. The re$6,581 $6,726 $6,615 $7,172
Average gross income
$1,068 $1, 088 $1,115 $1,155
Pay-roll expense
$1,119 $1,155 $1,109 $1, 223 turns indicated that 48.5 percent of the total gross
Other costs of practice
$4, 394 $4, 483 $4, 391 $4, 794
Net income
income of the legal-service industry was derived from
Percentage of gross income:
100.0
100.0
100.0
Average gross income
100.0
personal legal services rendered to individuals, whereas
16.3
16.2
16.1
Pay-roll expense
16.9
16.9
17.1
17.1
Other costs of practice
16.7
51.5 percent was obtained from enterprises for services
N et income
66.4
66.8
66.8
66.7
to business. The lawyers with the smaller gross inData for the average earnings of lawyers7 employees, comes usually derived most of their revenue from servtabulated on a full-time-equivalent basis, are presented ices to individuals, w^hereas those with large gross
below. Average full-time-equivalent earnings increased incomes, including the larger partnerships, tended to
5 percent from 1936 to 1941, as may be seen from the derive most of their revenue from services to business.
following data:
It follows that a majority of the independent practiAverage fun-timetioners depended chiefly upon individuals, rather than
equivalent, earnings of lawyers'
business,
for the major portion of their revenue.6
employees
1936
1937.
1939
1941
_. $1,201
1,225
1,205
1,260
^
6
It should again be pointed out that salaried lawyers who receive their salaries
from business or government are outside of the legal-service industry and are consequently not represented in the data upon w7hich the above comparison is based.
The Business Situation
(Continued from p. 8)
7
by pipe line. The " Big Inch' which is now delivering oil
to the East coast will step up the pipe-line movement
200,000 barrels per day by August 16, and will reach a
capacity of 300,000 barrels per day by mid-September.
It is anticipated that the "Big Inch" and other new
facilities will contribute 14 billion ton-miles to the
estimated 1943 pipe-line performance. Total pipe-line
traffic of both trunk and gathering lines will probably
rise to slightly over 100 billion ton-miles. This total
will represent a 26 percent increase over 1942.
Water.
Inland water transportation for 1943 presents a study
in contrasts. Movements on rivers, canals, and connecting channels, featured by a tremendous volume
of petroleum traffic, have been at high levels in recent
months indicating that this year will exceed any previous year. But the severe winter which delayed the
opening of the Great Lakes traffic by approximately
one month was a real set-back to total water trans
portation.
The loss of one month's shipping time
makes it extremely unlikely that the movement of iron
ore, coal, and grain can reach the high volume transported in 1942. The heavy spring floods and the
series of coal strikes further tended to depress the inland waterway performance in the first half of this
year. The diversion of freighters to other services and
the great needs of our overseas forces will keep coastwise traffic at a very low level, despite the relative
abatement of the submarine menace. On the whole,
total domestic water-borne ton-miles will be about 3
percent below 1942.
Local Transit.
The local transit industry faces a particularly serious
equipment problem. Even at the end of 1942 total
passengers carried were one-third higher than seating
capacity. This condition became more acute in the
first half of 1943 when local transit traffic increased
approximately 25 percent over the same period last
year. Furthermore, current indications suggest a continuation of this rate with total 1943 traffic 25 percent
above 1942.
SURVEY OF CURRENT BUSINESS
28
August 1943
New Index of Retail Prices, 1939-43
The Bureau of Foreign and Domestic Commerce has prepared
a monthly index of retail prices for use in connection with its
estimates of sales of retail stores. The index, which is on a 193539 base, covers the period January 1939 to date. It will be
published monthly with other price indexes in the statistical
section of the Survey. The index represents the movement of
prices at retail stores and is based upon data collected by the
U. S. Department of Labor and other agencies. It differs from
the cost-of-living index published by the Bureau of Labor
Statistics by the omission of rents and other service prices and
the inclusion of prices for building materials, farm machinery,
and other nonconsumer commodities sold through retail stores.
Chart 1.-—Retail Prices and Cost of Living
dexes were obtained by combining individual indexes, weights
wrere based in most cases on analysis of sales by commodity
groups from the 1939 Census of Retail Trade. For some of the
groups adequate price data are not available, and arbitrary
assumptions were necessary to construct the index. This is
especially true of eating and drinking places where, for lack of
anything better, the Bureau of Labor Statistics retail food price
index was used. Thus, while some of the component indexes are
not sufficiently reliable to publish at this time, it is believed that
the combined index represents fairly accurately the movement of
retail prices as a whole. The combined index is shown in table 1.
Series Used in Constructing Retail Price Index
l
Group of retail stores
5NDEX, 1935-39 = 100
Source and price index
JbO
1. Food group
2. Eating and drinking places
3. Apparel group
140
4. Filling stations
130
RETAIL
PRICES*
5. Building materials
and h a r d w a r e
group
_^
f
_|
no
...
COST OF LIVINGU
3 00
90
.
!939
1941
1940
! 1
1 ! 1 . • I
1 !
1942
* Represents cost of living of wage earners and lower-salaried workers in large cities.
Sources: U. S. Department of Commerce and U. S. Department of Labor.
The combined index is built up from ten component indexes,
one for each major group of retail stores, by the use of constant
weights, namely, the dollar sales for the 5-year period 1935-39 of
the group of stores to which the index applies. Annual averages
of the component indexes are not unweighted averages of the
monthly indexes. Rather, each annual index is a weighted
average obtained by deflating dollar sales for each month,
totaling the 12 monthly deflated sales figures, and dividing this
total into the total of 12 monthly undeflated sales figures.
Table 1.—Index of Prices at Retail Stores, 1939-43
[1935-39 = ] 00]
Month
1939
1940
1941
1942
January
February
March....
April..
May
June
...
July
August
September
October
November
December
99.3
98.6
98.4
98.2
98.1
97.9
98.2
98.0
100.3
100.8
100.5
99.9
99.7
100.2
99.8
100.0
100.2
100.4
100.4
100.1
101.0
101.2
101.2
101.6
101.8
101.7
102.7
103.6
104.6
106.6
107.8
108.9
111.2
114.8
116.1
116.6
• 118. 4
119.8
121.8
123.0
123.9
124.5
125.7
126.0
126.4
127. 7
128, 8
129.6
Average
99.0
100.5
108.1
124.7
1943
130.0
130.4
132.4
133.9
134.9
134.6
The sources of data used in preparing the component price indexes are shown in the adjoining list. Where component in-
Bureau of Labor Statistics retail food price index.
Bureau of Labor Statistics retail food price index.
Clothing component of Bureau of Labor Statistics cost-ofliving index 1935-40. Beginning January 1941, shoe
repairing and dry cleaning excluded from index.
Index based on price of gasoline, including tax, retailed
in 50 cities as reported by the Texas Company.
Combination of:
(a) Bureau of Labor Statistics retail price index of
building materials (64).
(fr) Bureau of Agricultural Economics index of prices
paid by farmers for farm machinery (13).
(c) Bureau of Labor Statistics cost-of-living index for
selected house furnishings items (9).
(d) Bureau of Labor Statistics wholesale price index o f
selected hardware and tools items (14).
G. Housefurnishings
group
.-.. Housefurnishing component of Bureau of Labor Statistics
cost-of-living index.
7. Automotive group.. Index based on average retail list price of new cars reported
in "Motor. Age" 1935-41. Beginning January 1942 combination of following indexes:
(a) Index based on price increases allowed by the
Office of Price Administration on new automobiles (42).
(6) Index based on price increases allowed by the
Office of Price Administration on automobile
parts (32).
(c) Bureau of Labor Statistics price index of automobile repair services (14).
(d) Index for filling stations listed above (12).
8. Drug stores..
Combination of following Bureau of Labor Statistics indexes:
(a) Ketail food price index (27).
(b) Cost-of-living index for drugs (47).
(c) Cost-of-living index for tobacco (16).
(d) Cost-of-living index for toilet goods (10).
9. General merchandise stores
Combination of:
(a) Index for apparel group listed above (52).
(6) Index for housefurnishings group listed above (19).
(c) Index foF food group listed above (12).
(d) Index for drug stores listed above (5).
(e) Cost of goods in Bureau of Labor Statistics cost-ofliving index (12).
10. Other retail stores.. Combination of:
(a) Bureau of Labor Statistics cost-of-living index for
fuel and ice (except gas) (23).
(6) Bureau of Agricultural Economics index of prices
paid by farmers for feed, equipment and supplies,
fertilizer, and seed (16).
(c) Liquor price index based on cost of goods in Bureau
of Labor Statistics cost-of-living index with allowance for changes in Federal tax rates (12).
(rf) Cost of goods in Bureau of Labor Statistics cost-ofliving index (49).
NOTE.—Numbers in parentheses following sources are weights.
The Department's index of retail sales adjusted to eliminate
price changes is obtained by a weighted average of ten component deflated sales series. The sales index for each major
group of stores is divided by the corresponding price index, and
the resulting deflated indexes are combined by using as weights
the 1935-39 sales by groups of stores.
S-l
SURVEY OF CURRENT BUSINESS
August 1043
Monthly Business Statistics
The data here are a continuation of the statistics published in the 194.2 Supplement to the SURVEY OF CURRENT BUSINESS.
That volume contains monthly data for the years 1938 to 1941, 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 1938. Series added or
revised since publication of the 1942 Supplement are indicated by an asterisk (*) and a dagger (f), respectively, the accompanying
footnote indicating where historical data and a descriptive note may be found. The terms "unadjusted" and "adjusted" used to
designate index numbers refer to adjustment of monthly figures for seasonal variation.
Data subsequent to June for selected series will be found in the Weekly Supplement to the Survey.
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
1943
1942
June
September
June
July
August
1943
Octo
ber
Novem- December
ber
January
February
March
April
May
BUSINESS INDEXES
INCOME PAYMENTSt
Indexes, adjusted:
Total income payments
1935-39=100.- 2211.5
Salaries and wages
do.
P234.0
Total nonagricultural income
do.
2204. 9
Total
mil. of doL. *12,162
Salaries and wages:
Total §
do
*8,406
Commodity-producing industries--,do
*3, 977
Work-relief wages
do
2
Direct and other relief
do
Social-security benefits and other labor income
mil. of doL.
v\, 354
Dividends and interest
do
Entrepreneurial income and net rents and
royalties
„
mil. of dol__ v% 094
o, 984
Total nonagricultural income
do
* p •
FARM MARKETINGS AND INCOME
Farm marketings, volume:*
Indexes, unadjusted:
Total farm marketings
._.1935-39 = 100.
Crops
.
do
Livestock and products.._.
do
Indexes, adjusted:
Total farm marketings
_do_
Crops
..._..do.__.
Livestock and products
..do
Cash farm income, total, including Government payments*
mil. of doL.
Income from marketings*
do
Indexes of cash income from marketings: f
Crops and livestock, combined index:
Unadjusted1935-39=100-.
Adjusted
do
Crops
do_._
Livestock and products
do
Dairy products
.do
Meat animals
do
Poultry and eggs..
_
do
'178. 4
195.8
174.5
1 0 , 450
-183.0
''201. 7
178. 9
10, 836
189.2
'208. 8
184. 2
10, 680
193. 4
'213. 9
187.9
1 1 , 608
196.5
'218. 6
191. 9
1 0 , 819
'200.6
'222. 4
194. 8
11,499
'204. 4
'225.0
197.0
11,261
'207. 3
'228. 6
'200.1
11,240
'208. 7
'230.7
'201.9
11,138
-•6,863
'3,334
35
'7,083
'3, 414
30
85
'7, 396
'3, 528
26
85
'7, 568
'3, 598
24
84
'7, 748
'3,627
23
84
'7, 725
'3, 598
19
83
'7,845
'3, 665
15
81
'8,001
r
3, 743
11
78
'8,127
'3,803
7
77
'8, 245
'3,8754
76
169
846
164
437
176
175
752
174
522
180
1,419
195
781
199
442
210
907
215
753
'224
486
1,765
8, 833
' 1, 877
' 8, 650
'1,997
'8,412
' 2, 212
' 9,092
' 2,428
' 9, 266
2,332
9,243
'2,177
' 10, 354
' 2,035
' 9, 733
' 1,932
'9,514
' 2,065
' 10,143
'2,068
'10,120
'2,107
'9, 964
110
64
145
126
118
132
138
154
126
165
211
130
178
221
145
157
178
141
144
153
138
117
112
121
102
84
116
115
85
137
114
71
147
121
75
'156
2149
124
102
140
129
121
134
127
117
134
132
130
134
130
128
132
141
152
133
141
144
139
127
127
127
129
121
134
140
137
141
136
128
141
139
130
'147
*1,407
*1,383
1,112
1,070
1,249
1,219
1,435
1,412
1,753
1,726
2,015
1,962
1,825
1,764
1,571
1,499
1,361
1,261
1, 205
1,126
1,402
1,310
1,387
1,322
1,440
1 , 400
2208,0
2256.0
2248.0
2261.0
2202. 5
*298.5
*275. 5
161.0
191.5
166.5
208.0
163.0
251.5
177.0
183.5
192.5
187.5
196.0
161.0
226.0
180.5
212.5
204.5
209.5
201.5
164.0
234.0
187.0
260.0
207.5
222.5
197.5
166.0
227.0
181.0
295.5
211.0
225.0
201.5
167.5
230.0
194.0
265.5
224.0
248.5
208.0
168.0
239.0
204.0
225.5
226.5
237.5
219.0
177.0
249.5
233.5
190.0
224.0
237.0
215.0
170.0
222.5
286.0
169.5
239.5
245.5
235.5
183.0
260.0
271.5
197.0
260.5
273.0
252.5
189.0
274.0
319.5
199.0
261.0
272.0
254.0
202.0
284.0
276.5
'210.5
'258.0
264.5
253. 5
»204.5
'282.0
275.5
177
185
246
198
138
139
138
287
186
158
183
171
37
396
180
189
251
196
140
137
141
289
188
151
186
151
32
425
187
196
260
197
138
136
139
299
191
160
195
167
30
458
193
203
267
199
135
136
134
310
193
163
200
166
38
479
195
205
276
207
135
141
131
320
192
163
202
167
37
507
195
206
279
203
125
139
118
329
197
157
186
171
39
525
194
207
283
200
116
144
101
340
202
139
156
159
39
547
194
208
287
204
107
139
91
348
200
138
139
187
38
559
197
211
292
208
114
144
99
352
199
132
126
184
40
572
199
212
296
210
119
144
106
359
192
133
126
185
39
583
201
'215
300
209
125
144
115
362
194
141
128
194
42
'597
'204
*217
^304
208131
143
125
'365
194
154
137
214
47
'606
112
136
116
166
116
114
139
210
149
116
139
133
167
114
115
156
207
138
124
144
140
170
115
117
165
192
132
129
151
140
181
112
112
P 181
135
148
123
192
117
115
P 156
» 109
146
141
147
103
199
115
111
» 151
*91
166
146
146
94
206
114
130
»150
»S8
186
151
143
90
209
120
118
155
146
110
213
123
119
» 135
v 102
147
158
144
105
216
114
115
v 134
159
145
107
'221
116
117
2135
2141
136
162
147
106
'220
114
115
266
2154
2135
P117
'169. 6
'185.1
'•167. 0
'9, 727
'172.8
189.6
170. 2
r
9, 671
1 70. 2
193. 2
172.6
'6, 592
'3, 038
53
87
'6, 693
'3,204
45
86
164
1,119
% 547
INDUSTRIAL PRODUCTION
(Federal Reserve)
Unadjusted:
Combined index
1935-39=100.Manufacturesdo
Durable manufactures
...do
Iron and steel
do
Lumber and products
do
Furniture
do
Lumber
_
do
Machinery*
do
Nonferrous metals.
do
Stone, clay, and glass products..-do
Cement
_..do
Glass containers..
...do
Polished plate glass
do
Transportation equipment
do
Automobile bodies, parts and assembly
_
1935-39=100..
Nondurable manufactures..__..._..do
Alcoholic beverages
do
Chemicals
_.do
Leather and products
do...:
Shoes
do
Manufactured food products
do
Dairy products J
do
Meat packing.
_
do
*203
P 217
2303
201
*>130
P143
1-123
2366
2194
46
-'614
2164
PI 47
2113
P210
2154
147
P140
"89
171
P119
140
P142:
2187
162
9 Preliminary.
' Revised.
§The total includes data for distributive and service Industries and government which have been discontinued as separate series to avoid disclosure of military pay rolls.
{Scattered revisions in the 1940-41 figures for dairy products, and in the 1941 figures for iron and steel and machinery are available on request.
•New series. For a description of the indexes oi the volume of farm marketings and figures beginning 1929, see p p . 23-32 of the April 1943 Survey. Data beginning 191&
for the dollar figures on cash farm income are shown on p . 28 of the M a y 1943 Survey.
t Revised series. Data on income payments revised beginning January 1939; for figures for 1939-41, see p . 27, table 1, of the March 1943 Survey; the 1942 figures for most
items are revised in this issue; revisions not shown above are as follows: Indexes—total income payments, Jan., 155.2; Feb., 157.1; Mar., 159.1; Apr., 163.4; M a y , 165.4; salaries
and wages, Jan., 164. 0; Feb., 167.0; Mar., 170.8; April, 175.4; M a y , 179.0; total nonagricultural income, Jan., 152.7; Feb., 154.7; Mar., 157.3; Apr., 160.5; May, 162.8. Dollar figures (millions)—total, Jan., 8,458; Feb., 8,063; Mar., 8,771; Apr., 8,904; M a y , 8,764; total salaries and wages. Jan., 5,698; Feb., 5,782; Mar., 5,973; Apr., 6,155; M a y , 6,338;
commodity-producing industries, J a n . 2,524; Feb., 2,598; Mar., 2,676; Apr., 2,797; M a y , 2,924; entrepreneurial income and net rents and royalties, Jan., 1,715; F e b . , 1 ,589;
Mar., 1,639; Apr., 1,715; M a y , 1,699; nonagricultural income, Jan., 7,639; Feb., 7,369; Mar., 8,034; Apr., 8,086; M a y , 7,951. T h e indexes of cash income from farmmarketings.
have been completely revised; data beginning 1913 are shown on p . 28 of the M a y 1943 Survey.
S-2
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the
June
1942 Supplement to the Survey
August 1943
1942
June
July
August
September
1943
October
Novem- December
ber
January
February
March
April
May
BUSINESS INDEXES—Continued
INDUSTRIAL PRODUCTION—Con.
Unadjusted—Continued.
Manufactures—Continued.
Nondurable manufactures—Continued.
Paper and products
1935-39=100.
Paper and pulp.
do—
Petroleum and coal products
do
Coke
do.
Petroleum refining.-do..
pg-_
Printing and
and products._..._
publishing
do.
Textiles
do.
Cotton consumption
do
Rayon deliveries..do
Wool textile production.
..do
Tobacco products
--do—
Minerals*
do....
Fuels*
do.,..
Anthracite*----..do....
Bituminous co^l* .__.._
do—
Crude petroleum
._
-do—
Metals
do....
Adjusted-.
Combined index§
.
do—
Manufactures!
do—
Durable manufactures!
--do—
Lumber and products§
do...
Lumber
do
Nonferrous metals
do—
Stone, clay, and glass products!..do—
Cement!
__-.do—
Glass containers
do—
Nondurable manufactures§-...
do —
Alcoholic beverages§
do—
Chemicals
--do—
Leather and products!
do...
Shoes§
..do...
Manufactured food products! d o . . .
Dairy products!
do...
Meat pack ing
.. -do...
Paper and products!
do...
Paper and pulp!
do...
Petroleum and coal products! d o . . .
Petroleum refining
..do...
Printing and publishing
do...
Textiles and products..do...
Tobacco products!...
__.__.do.__
Minerals!
--..
.do...
Metals
do...
BUSINESS INVENTORIES, ORDERS,
AND SHIPMENTS
Estimated value of business inventories:*
Totnl.
mil. of dol.
Mamifactuxers
do
Retailers
...do...
WholesnWs .
do...
Indexes of manufacturers' orders, shipments,
and inventories:
New orders, total
Jan. 1939=100.
Durable goods.__
_ do.._
Tron and steel and their products..do...
Electrical machinery
do...
Other machinery
-do...
Other durable eoods_.
.
do...
Nondurable goods
do
Shipments, total..average m o n t h 1939=100.
Durable goods .
do...
Automobiles and equipment
do...
Iron and steel and thoir products.- d o . . .
Nonferrous metals and products*...do._.
Electrical machinery
.
do....
Other machinery.
.
do...
Transportation equipment (except
automobiles)
do...
Other durable goods
do...
Nondurable goods
do...
Chemicals and allied products
do...
Food and kindred products.
do.._
Papor and allied products
do...
Petroleum refining.
_._
_do.__
Rubber products
..do...
Textile-mill products
..do
Other nondurable goods
..do
Inventories, total
do
Durable goods
..do
Automobiles and equipment
do
Iron and steel and their p r o d u c t s . . . d o . . .
Nonferrous metals and products*...do
Electrical machinery
.do
Other machinery .
do...
Transportation equipment (except autom o b i l e s ) . . . . .average m o n t h 1939=100.
Other durable goods.
...do...
v 109
p 153
160
p 128
121
v 114
P
P73
103
v 123
P
*201
P216
P302
P123
v 113
v 194
v 142
p 147
"J>~228
v 11(3
v 116
v 147
v 148
v 158
v 110
p 153
118
v 117
v 137
133
134
115
164
108
10.3
152
169
169
151
132
132
121
117
144
113
195
122
121
117
163
110
96
154
166
168
160
131
131
121
122
141
112
192
130
130
121
165
114
103
154
169
169
154
135
136
126
118
140
121
194
134
132
122
166
116
109
156
172
170
155
144
137
129
129
150
120
184
138
138
123
166
117
120
156
172
174
156
149
134
127
117
145
121
176
134
137
123
166
117
121
158
171
177
161
141
132
130
124
154
121
143
129
131
119
166
112
114
156
163
178
163
137
119
126
105
143
121
132
135
116
166
109
111
157
171
180
154
132
116
124
102
145
118
68
137
140
120
169
113
115
160
171
181
166
122
122
131
129
157
121
69
137
139
118
169
110
114
157
166
181
163
123
124
133
128
161
122
'69
176
184
244
131
127
186
147
171
163
136
104
172
121
120
138
138
153
134
135
115
108
104
152
122
127
159
178
188
249
133
130
188
140
169
145
138
122
174
116
115
143
143
146
125
125
118
111
106
154
126
126
155
183
193
258
129
125
191
145
177
153
140
135
173
113
110
143
143
153
131
132
121
114
111
154
130
130
152
187
197
265
125
119
193
152
182
163
142
139
179
111
108
M48
P140
159
132
133
122
116
109
156
133
131
145
191
203
275
129
123
192
152
184
162
144
126
187
117
115
v 146
p 139
145
135
137
123
117
116
156
141
129
139
195
207
279
128
122
197
153
180
169
148
122
197
117
116
v 152
p 136
147
135
137
123
117
118
158
136
130
133
197
210
285
127
119
202
148
165
171
149
111
205
117
116
P158
v 140
158
132
133
119
112
114
156
160
127
132
199
212
291
124
116
200
163
169
208
149
105
210
122
122
v 157
p 141
145
133
135
117
109
113
157
140
125
132
202
215
295
129
121
199
155
156
199
'150
123
213
118
118
v 155
v 142
153
135
137
120
113
'113
160
131
131
133
202
215
298
124
114
192
149
146
197
147
112
211
112
111
P 152
v 141
154
135
137
118
29,311
17,183
7,496
4,632
29,231
17,317
7.439
4,475
29,094
17. 392
7,357
4,345
29, 034
17. 439
7, 350
4,245
28, 851
17, 547
7, 275
4,029
28, 728
17, 682
7.090
3,956
28, 028
17,652
6,384
3, 992
r 27. 783
17,676
'% 116
3, 991
'27, 411
17.440
'5,945
4,026
314
545
295
570
57S
913
166
202
256
161
211
217
249
306
256
399
254
699
411
504
163
207
264
172
210
220
267
311
233
334
222
491
421
377
167
212
270
184
215
212
268
312
264
390
250
411
358
636
183
224
283
194
216
228
286
322
266
387
223
413
387
643
188
228
289
207
212
236
317
333
279
415
264
586
381
619
192
232
300
223
214
246
351
337
255
361
233
353
361
574
187
240
320
240
239
262
408
351
247
364
258
346
3J5
587
172
226
298
231
205
230
369
322
275
405
315
437
315
617
191
255
337
250
225
262
446
364
284
433
383
319
303
022
188
249
330
238
227
255
415
354
1,271
187
160
168
164
139
136
171
186
147
1, 362
191
163
169
171
126
142
183
187
146
1,797
179
169
193
178
138
135
241
191
140
2,100
197
192
210
200
152
139
280
216
170
2,042
201
185
210
185
155
148
271
213
105
176.5
204.1
243.3
135.7
152.6
320.6
210.4
1,692
191
179
183
185
143
154
214
202
171
177.9
207. 7
244.1
137.4
152.3
326.1
213.0
1.775
181
178
185
184
144
139
222
204
166
174.2
195. 8
226.1
133.9
153. 3
290. 3
204.8
1,579
200
177
187
187
136
140
205
197
165
175.4
200.9
241.4
134.1
156.5
307.1
207.2
1, 578
197
181
182
190
146
138
207
203
173
172.9
193.2
222.7
132.3
152.1
277.8
203.1
1, 466
187
167
171
178
131
135
179
191
154
175.0
198.0
229.9
134.3
156.5
299,9
204.6
177.6
210.1
232.9
139. 2
151.9
324.1
219.6
177.8
211.3
233. 8
135.2
157. 3
327.0
221.9
175.5
209.6
237. 3
131.9
150.1
331.6
223.4
174.9
210.
247. 3
129. 0
149. 6
341. 9
225.5
852. 8
126.5
890.3
124.0
924.2
123. 3
975. 0
123. 6
802.3
131.4
824.8
128.6
1, 020. 8 1,062.7
122. 2
119.7
1,051.0
117.0
no
110
157
131
133
133
136
138
121
169
114
116
155
166
181
' 157
125
125
331
129
151
124
85 |
137
140
121
v 166
114
114
157
169
185
158
123
' 133
' 129
124
143
'125
' 154
203
203
'216
'217
' 303
'301
' 125
' 126
115
' 117
194
194
144
145
134
131
194
200
147
147
103
94
-•218
'221
'116
' 115
' 115
'117
P148
p 150
v 140
P137
143
162
134
136
136
139
120
121
113
114
110
HI
155 |
157
133 |
120
131 | ' 130
133
'134
27,513 • 27, 362 ! r 27, 225
17,380
17.433 I • 17.400
' 6. 106 ' 5, 935 [ r 5# 703
4, 051
v 3, 994
4, 002
1,053.1
116.6
280 I
409 |
301 i
406 !
362 I
629
197 !
267
'389
'312
r 341
'294
'619
' 189
253
338
262
224
269
450
354
' 247
' 338
'279
'224
' 259
' 426
'353
2,063
204
186
211
179
159
161
277
202
177
175.4
213,5
251.2
130.3
149.2
350. 4
227.4
' 2, 057
' 201
' 177
199
' 173
' 160
' 162
292
'195
'149
r
175.7
213.5
24 o. 7
132. 1
148.2
354.3
226.8
1,087.9 '1,088.9
113.4
115.1
' Revised.
» Preliminary.
{Scattered revisions in the 1940-41 figures for minerals and fuels, the 1939-41 figures for bituminous coal, and the 1941 figures for anthracite, are available on request.
§Revisions have been made in seasonal adjustment allowances for recent periods; for total industrial production, total manufactures, durable, and nondurable manuactures, the resulting changes in the indexes do not exceed 1 point for any month before December 1941 (shown in March Survey). Revisions are available on request.
^Seasonal adjustment factors for a number of industries for which indexes are included regularly in t h e Survey have been fixed at 100 beginning various months from
January 1939 to February 1942, as stated in the descriptive note for the industrial production indexes included in the 1942 Supplement and in the note marked "X" on P- S-2
of the April 1943 Survey. Beginning with the M a y 1943 issue of the Survey, data for these industries are not shown in the adjusted series above as the "adjusted" indexes
are the same as the unadjusted series.
*New series. For data beginning December 1938 for t h e estimates of business inventories, see p . 7, table 2, of the J u n e 1942 Survey. D a t a for shipments and inventories of nonferrous metals and their products were formerly included in "other durable goods."
S-3
SURVEY OF CURRENT BUSINESS
August 1943
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data,may be found in the
June
1942 Supplement to the Survey
1943
1942
July
June
August
September
Novem- December
ber
October
January
February
March
April
May
BUSINESS INDEXES—Continued
BUSINESS INVENTORIES, ETC.-Con.
Indexes of manufacturers' orders, s h i p m e n t s ,
a n d inventories—Continued.
Inventories—Continued.
N o n d u r a b l e goods..a vg. m o n t h 1939=100...
Chemicals and allied products
do
Food a n d kindred products
do
Paper and allied products
do
Petroleum refining
do
Rubber products.
do
Textile-mill products
do
Other n o n d u r a b l e goods
do
155.1
162. 7
160. 3
149.7
111. 5
165.4
165.1
160.7
155. 3
163.3
159. 8
152.7
110.3
170.2
165. 0
161.3
154.8
164.4
159. 2
154.6
111.2
174.8
159. 5
161.3
153.1
161.0
158.0
154. 6
109.6
173.5
156.2
160.8
152.4
156. 5
161. 2
149.8
109.3
172.7
155.1
159.1
151. 8
155.1
160.1
146.5
107.2
174.4
153.1
161.8
149.2
158.7
156.2
144.0
106.8
174.6
147.2
157.4
148.6
155.4
152. 5
141. 4
107.0
172.3
147.0
161.8
145.
154.
147.
140.
106.
175.
142.
158.
143.6
152. 4
145.2
139.3
106.0
181.0
140.0
154.8
142.1
149.1
146. 0
138.6
104. 3
]S5.2
140. 2
149.6
* 142. 6
r 149. 0
r
149.5
' 130.9
*• 103. 8
188.0
r
141.8
' 117. 2
COMMODITY PRICES
COST OF LIVING
National Industrial Conference Board: f
Coinbined index
1923= 100..
Clothing
do..-..
Food
do
Fuel and light
do
Housing
do
Sundries
do ...
17. S. Department of Labor:$
Combined index
1935-39=100..
Clothing
do
Food
..
do
Fuel, electricity, and ice
do
H ousef uruishings
do
Rent
do
104. 3
88.6
115.9
92.3
90.8
107.1
97.4
88. 1
99.5
90. 2
91.0
104.3
97.8
88.0
100.1
90.5
90.8
104.7
98.1
88.2
101.1
89.5
90.8
104.8
98.8
88.4
102.8
90.5
90.8
104.6
99.8
88.5
105.3
90.5
90.8
105. 3
100.5
88.6
106.4
90.6
90.8
106.2
101.1
88.6
108.2
90.6
90.8
106.2
101.5
88.6
108.8
92.1
90.8
106.4
101.9
88.6
110.0
92.3
90.8
106.5
103.0
88.6
112.8
92.4
90.8
106.5
104. 0
88.6
115.4
92.5
90.8
106. 5
104. 2
88. 5
115.8
92.6
90.8
106. 7
124.8
127.9
141.9
107. 7
125. 4
105. 0
115.7
116.4
125.3
123. 2
105. 0
122. 3
108. 5
110.9
117.0
125. 3
124.6
106.3
122.8
108. 0
111.1
117.5
125. 2
126.1
106. 2
123.0
108. 0
111.1
117.8
125. 8
126.6
106. 2
123. 6
108.0
119.0
125. 9
129.6
106.2
123.6
108.0
119.8
125.9
131.1
106. 2
123.7
108.0
112.7
120.4
125.9
132. 7
106 3
123.7
108.0
112.8
120.7
126.0
133.0
107. 3
123.8
108.0
113.2
121.0
126.2
133. 6
107.2
124.1
108.0
113.6
122.8
127.6
137.4
107.4
124.5
108. 0
114. 5
124.1
r 127. 9
140. 6
107.5
*• 124. 8
108. 0
r
114.9
125.1
r 127. 9
14?.. 0
107. ()
r
125.1
108.0
r
115.3
190
U. S. Department of Agriculture:
179
Combined index
1909-14=100..
166
Chicken^ and eggs
.
do
178
Cotton and cottonseed
do
234
Dairy products
do....
151
Fruits
do....
211
Grains..
do
308
Meat animals
do
194
Truck crops
do
Miscellaneous
do
RETAIL PRICES
U. 8. Department of Commerce:
134.6
All commodities, combined index*. 1935-39=100
U.S. Department of Labor indexes:
A n t h ra ci te
1923-25 =100.
Bituminous coal
do
Food (see under cost of living above).
Fairchild's index:
Combined index
Dec. 31. 1930=100..
113. 0
Apparel:
In fan Is'
do
108.1
Men's
do
105. 3
Women's
do
112.7
115. 5
Home furnishings
do
112.2
Piece goods
do
151
137
153
141
148
116
191
169
134
154
145
155
144
131
115
193
200
139
163
156
151
151
126
115
200
256
173
169
178
160
171
127
117
197
238
181
178
183
162
175
151
124
198
293
211
182
185
164
177
139
134
205
277
217
125.7
126.0
128.8
129.6
88.8
96.8
88.8
Miscellaneous
do....
PRICES RECEIVED BY FARMERS§
!
88.8
96.6
163
166
156
156
129
119 i
195
191
172
169
173
158
165
134
117
200
226 i
185 I
126.4
97.0
113.1
113.1
113.1
108. 0
105. 1
112.9
115.fi
112.2
108.0
105. 1
112.8
115.6
112.3
108.0
105. 2
112.7
115. 5
112.3
113. 1
I
10<\0 |
105.2 !
112.7 j
115.5 i
112. 2
88.9
97.0
97.2
r
130. 0
93.4
97.9
178
170
163
179
156
138
214
301 !
158 |
130.4
93.5
98.4 !
182
171
166
180
172
143
218
302
163
173
167
180
189
146
218
291
176
187
175
167
179
212
148
214
253
196
r 132. 4
r 133.9
134.9
93.4
99.8
93.5
100.1
93.6
101.4
113.1
!
108.0 !
lln 3 i
112.6 !
llr, 5 i
112. 2 !
113. 1
113.1
113.1
113.1
113.2
113.2
1.13. 0
108.0
105. 3
112.5
115.5
112.2
108. 1
105. 3
112.6
115. 5
112.2
108. 1
105. 3
112.6
115. 5
112.2
108.1
• 105. 3
112.6
115.5
112.2
108.1
105. 3
112.7
115.5
112.2
108.1
105. 3
112. 7
115. 5
112.2
108.1
105.3
112.6
115.5
112.2
WHOLESALE PRICES
U. S. D e p a r t m e n t of Labor indexes:
C o m b i n e d index (889 q u o t a t i o n s ) . . 1920=100..
Economic classes:
Manufactured products
do
R a w materials
do
Semimanufactured articles
do
F a r m products
do.,. .
Grains
do
Livestock and poultry
do
Commodities other t h a n farm products
1926=100,.
Foods
do
Cereal products
do
Dairy products
do
Fruits and vegetables
do
Meats . .
do
Commodities other t h a n farm products a n d
foods
1926=100..
Building materials
do
Brick a n d tile
do
Cement
do
Lumber
do
P a i n t and paint materials . . . . _ _ . do
Chemicals and allied products
do
Chemicals
do
Drugs and Pharmaceuticals
do
FertiH'/cr materials
..do
Oils and fats
do
Fuel and lighting materials
do
Electricity
do
Gas
do
Petroleum products
do
T
v 103. 8
98. 7
99.2
99.6
100.0
100.3
101.0
101.9
102.5
103.4
103.7
P
p 100. 1
p 111.3
v 92. 8
v ] 20. 2
113.8
128. 6
P8. 6
99.8
92.8
104. 4
88.8
110.9
f'8.6
100. 1
92.8
105. 3
89. 1
117.8
98.9
101.2
92.7
100. 1
89.8
122.6
P9. 2
102.2
92.9
107.8
93. 6
122. 1
99.4
103.0
92.7
109.0
91. 5
123.4
99.4
103. 9
92.6
110.5 j
92.8
121.3
99.6
106. 1
92.5
113.8
100.7
123. 9
100. 1
108.2
92.8
117.0
107.3
129.2
100.3
109. 6
92.9
119.0
108.6
132.8
100.5
112.0
93.0
122.8
112.2
135.7
100. 6
112.8
93.1
123. 9
112. 5
131 0
p 100. 7
p 114.0
93.0
v 98. 7
109. G
93.fi
109. 5
143. 6
111.6
97.1
99.3
87.2
92. 0
105.4
113. 9
97.0
99.2
87.2
96.0
98.5
113.4
97.5
100. 8
87.8
100.2
98 0
115. 2
97.7
102.4
89.1
105. 5
97.5
116.0
97.9
103. 4
89.3
109. 2 |
P8.2
115.5
97.9
103. 5
89.5
111.2
102.0
112.0
98. 1
104. 3 I
89.3 !
111.8 I
104.3 I
113.6 j
98.5
105. 2
90. 6
113. 4
102.6
115. 5
98.7
105.8 !
92.2 j
133.3
108. 5
115.5 I
99.0 I
107.4 I
93.5 i
113.2 !
115.6
115. 5 !
99.1
108. 4
93.7
113.3
123. 2
115.8
v 99. 2
110." 5
93. G
113. 1
1)7 n
115! 9
p 9G. 8
110.6
99.0
93.6
136. 3
102.0
100.0
90. 4
165.2
78. 6
102. 0
81.0
95.6
110.1
98. 1
94.2
131.7
100.3
97.2
P0. 5
129. 1
78.4
108. 5
78. 4
63.3
81.2
59.8
95.7
110 3
98.0
94.2
132. 9
100. 7
96.7
9f>. 5
129. I
78. 5
104.2
79.0
62.7
81.4
60.6
95.6
110.3
98.7
94.2
133.0
100. 1
96.2
96.3
129. 0
78.3
101.6
79.0
62.2
80.4
60.7
95.5
110.4
98.7
94.2
133. 2
100.4
96.2
96.3
128. 9
78.2
101. 5
79.0
62.6
81.1
60.6
95.5
110.4
98.7
94.2
133.3
101.0
96.2
96.2
128.8
78.3 j
101. 5 !
79. 0
61.9
79.2
60.6
95.8
110. 1
98.6
94.2
133.1
100. 7
99.5
96.2
165. 4
78.6
101.5
79. 1
62.3
78.4
60.7
95.9
110.0
98.7
94.2
133.3
100.3
99.5
96. I
165. 4
79.0
101. 5
79.2
62.0
76.1
60.7
96. 0
109 8
98.7
94. 2
133 3
100 6
100. 2
96 9
165. 4
79. 0
101. 5
79. 3
62.6
73. 2
60. 8
96.2
110.2
98.6
94.2
134. 6
101.2
100. 3
96.9
165. 5
79.0
101. 5
79.8
63.0
75.8
61.2
96.5
110.4
98.7
94.2
134.6
102.2
100.0
96.4
165.0 !
79.0 '
101.5
80.3
60.2
75. 6
61.5
96.6
110.3
98. 7
94.2
134.7
102. 5
100.1
96. 4
165. 1
80. 0
101.5
80.6
60.0
70. 4
62.0
62.6
•8. 6 j
104.1
p 125. 7
113.1
130.5
110. 5
98.9
93. 9
135. 6
102. 2
100.2
96. 4
165.1
80. 0
102. 0
80. 8
77.5
62. 5
n'iiummry.
rieviseu.
*"> rPreliminary.
§Data for J u l y 15, 1943: T o t a l , 188; chickens and eggs, 183: cotton a n d cottonseed, 168; dairy products, 178; fruits, 230; grains, 154; meat animals, 206; truck crops, 315miscellaneous, 190.
J See note marked "X" on p . S-3 of the J u l y 1943 Survey in regard to revisions incorporated in t h e indexes beginning M a r c h 1943. R e n t s , which are subject to control in all
cities covered b y m o n t h l y reports, v a r y little in most areas and d a t a are now collected only at quarterly pricing periods.
S-4
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
1942
1943
June
July
June
September
August
COMMODITY
1943
October
Novem- December
ber
January
February
March
April
May
PRICES—Continued
1
WHOLESALE PEICES—Continued
U. S. Department of Labor indexes—Con.
Commodities other than farm products and
foods—Continued
Hides and leather products
1926=100-.
Hides and skins
do
Leather
do
Shoes
do
Housefurnishing goods
- do
Furnishings
do
Furniture
do
Metals and metal products
do
Iron and steel
do
Metals, nonferrous
do
Plumbing and heating equipment__do
Textile products
do
Clothing
.
do
Cotton goods
do
Hosiery and underwear
do
Rayon
do
Woolen and worsted goods
do
Miscellaneous
do
Automobile tires and tubes...
do
Paper and pulp__
do
Wholesale prices, actual. (See under respective
commodities.)
August 1943
i
117. 8
110.0
101. 3
120.4
102.8
107. 3
98.1
v 103. 8
97.3
86.0
90.4
97.4
107.0
112.6
70.5
30.3
112. 5
91.8
73.0
104. 3
118.2
118.5
101. 3
126.4
102.9
108.1
97.4
103.9
97.2
85.6
98.5
97.6
109.1
112.7
70.0
30.3
111.0
90.2
73.0
101.6
118.2
118.5
101.3
126.4
102.8
108.0
97.5
103.8
97.2
85.6
94.1
97.1
107.2
112.7
69.7
30.3
111.0
89.8
73.0
100.5
118.2
118.8
101.3
126.4
102.7
107.9
97.4
103.8
97.2
85.6
94.1
97.3
107.2
112.9
69.7
30.3
111.7
88.9
73.0
98.9
118.1
118.0
101.3
126.4
102.5
107.4
97.4
103.8
97.2
86.0
94.1
97.1
107.0
1.12.7
69.7
30.3
111.7
88.8
73.0
98.8
117.8
116.0
101.3
126.4
102.5
107.3
97.4
103.8
97.2
86.0
94.1
97.1
107.0
112.4
70.5
30.3
111.7
88.6
73.0
98.8
117.8
116.0
101.3
126.4
102.5
107.3
97.4
103.8
97.2
86.0
93.2
97.1
107.0
112.4
70.5
30.3
111.7
90.1
73.0
98.8
117.8
116.0
101.3
126.4
102.5
107.3
97.4
103.8
97.2
86.0
90.4
97.2
107.0
112.4
70.5
30.3
77.5
80.1
70.4
55.3
81.6
85.9
81.1
69.6
81.5
85.5
80.2
68.2
81.1
85.1
79.2
64.4
80.8
84.8
78.9
64.4
80.4
84.0
77.1
62.2
80.2
83.5
76.2
62.2
117. 8
116.0
101. 3
126. 4
102. 5
107. 3
97. 4
103. 8
97.2
86 0
4
so
97 3
107 0
112 5
70 5
30 3
112 4
90 7
73 0
100 1
117.8
116. 0
101.3
126.4
102.6
107.3
97.7
103.8
97.2
86.0
90.4
97.3
107. 0
112. 6
70.5
30.3
112.4
90.9
73.0
101.1
117.8
116.0
101.3
126.4
102. 6
107.3
97.7
103.8
97.2 '
80.0 !
90.4
97.3
107.0
112.6
70.5
30.3
112.4
91.4
73.0
102.7
117. 8
116. 0
101. 3
126. 4
102. 6
107. 3
97. 7
103. 8
97. 2
86. 0
90. 4
97. 4
107. 0
79.6
83.1
75.3
59.1
78 9
82.9
75 1
57 7
78.5
82.6
74.8
59.1
77.8
81.4
72.7
57.7
77.5
80.6
71.0
56.9
77.3
79.9
69.8
56.2
112.1 I
90.5
73.0
99.0
112.6
70. 5
30.3
112. 5
91.6
73. 0
102.9
117.8
116.0
101.3
126.4
102.7
107.3
98.0
p 103. 8
97.2
86.0
90.4
97.4
107.0
112.6
I 70.5
t 30.3
' 112. 5
* 91.9
f 73.0
104.3
PURCHASING POWER OF THE
DOLLAR
As measured b y Wholesale prices
Cost of living
Retail food prices
Prices received by farmers
1935-39= 100.-.
do.-..
do
do
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY*
New construction, total
Private, total
Residential (nonfarm)
...mil. of dol..
...do....
do
Nonresidential building, except farm and
public utility, total
___mil. of dol.
Industrial..
do
All other..
_
do
Farm construction, total
do
Residential
do...
Nonresidential
_
do
Public utility.._
-do
Public construction, total
do
Residential
_. -do
Military and naval
do
Nonresidential building, total
do
Industrial
do
Allother
.do
Highway
do
Sewage disposal and water supply do
All other Federal
do
Miscellaneous public-service enterprises
mil. of dol. .
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...
Contract awards, 37 States (F. W. Dodge
Corporation):
Total projects
-number..
Total valuation
thous. of dol.
Public ownership
_.-do._.
Private ownership
do...
Nonresidential buildings:
Projects.
number..
Floor area
thous. ofsq. ft
Valuation
..thous. of dol
Residential buildings:
Projects
.number..
Floor area.thous. ofsq. ft.
Valuation
thous. of dol.
Public works:
Projects
.number.
Valuation
thous. of dol..
Utilities:
Projects
number..
Valuation
tbous. of dol
v 722
p 145
1,211
236
100
1,403
221
92
221
1,415
215
95
1,274
200
92
1,123
168
889
128
65
829
115
54
771
104
45
751
108
44
'724
116
52
^727
'130
65
*>577
41
24
17
33
19
14
62
975
46
491
325
312
13
71
10
27
41
28
13
27
15
12
61
1,182
48
649
370
359
11
75
10
25
41
30
11
22
13
9
CO
1,265
56
681
417
408
9
72
10
25
41
31
10
19
12
7
60
1,200
71
626
403
395
8
65
9
22
37
29
8
15
9
6
56
1,074
66
523
389
382
7
62
9
22
31
23
8
10
6
4
47
955
61
497
330
324
6
47
7
11
22
16
6
5
2
3
36
761
63
358
286
282
4
30
5
17
18
12
6
3
1
2
40
714
59
333
283
280
3
24
5
14
9
5
5
2
3
40
667
59
302
266
264
2
23
4
11
12
7
5
7
3
4
45
643
'75
284
'242
'240
2
24
4
12
10
6
4
9
4
5
45
'608
'74
276
'214
'211
3
'29
5
'8
'12
' 7
5
11
5
6
42
'597
'J79
'264
'206
' 203
3
'35
5
5
5
2
2
228
83
193
76
232
75
206
74
194
64
182
65
181
70
179
70
175
80
185
83
174
86
51,863
14,846
229, 599 1,190,264
183,167 1,105,414
46,432
84,850
33,100
943,796
875,951
67,845
30,055
721,028
633,183
87,845
30,558
723,216
660,953
62,263
35,934
780,396
709,879
70,517
3,056
17, 283
94,834
14, 372
134,085
568, 385
11,093
113,134
489,066
10,952
90, 774
407, 324
10,405
97,962
466,860
10,424
14,070
61,508
33,002
50,673
185,471
18,924
33,634
127,382
17,110
26,177
100, 551
978
35. 720
2,739
203,341
1,960
129,611
388
37, 537
1,750
233,067
1,123
197,737
» 188
J>184
*>36
P48
139
77
175
91
118
145
79
54
102
56
84
44
85
42
71
39
63
33
'62
'37
' 52
'31
35,872
654,184
591,940
62, 244
38,797
708,716
663,817
44,899
25, 338
350,661
315,575
35,086
18, 503
393, 517
363, 852
29,665
16,117
339,698
304,032
35,666
15,435
303, 371
253, 334
50,037
14,024
234, 426
192,000
42,426
9,945
77, 245
372, 991
12,281
52,615
256,513
15,093
67,327
278, 091
6,842
27,913
154,064
5,090
37,810
187, 242
3,635
28, 310
144, 935
3,839
18,835
96, 214
18, 556
29,759
126,708
22,218
37,444
161,206
21,826
37,707
156, 654
21, 302
38,112
159,652
17, 428
24,920
110,813
12,155
22,188
93, 294
10, 295
16, 990
71, 786
10, 440
18,767
79, 434
] 3, 455
15,126
75,301
9,197
15, 207
63, 291
1,384
111,960
1,111
65,811
3,035
154,795
1,080
94,157
1,386
142,157
682
38,254
761
52,856
1,635
62, 037
787
41, 822
1,010
47, 704
101,193
486
63,837
736
91,404
146,860
1,016
128,816
386
47,530
497
60,125
552
60, 940
369
85,841
362
48,130
• 'to*
* Revised.
* Preliminary.
•New series. The series on new construction are estimated by the U. S. Department of Commerce, Bureau of Foreign and Domestic Commerce, with the exception
of the series on residential (nonfarm) construction which is from the U. S. Department of Labor and the data for military and naval and public industrial construction since
January 1941, which are from the War Production Board. For annual data beginning 1929, see p. 32, table 11, of the June 1943 Survey, and for quarterly estimates for 1939
to 1942, see p. 10, table 7, of the May 1943 issue. Additional data relating to the derivation of the estimates are shown on pp. 24-26 of the May 1942 issue.
S-5
SURVEY OF CURRENT BUSINESS
August 1943
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the
June
1942 Supplement to the Survey
1942
June
July
August
September
1943
October
Novem- December
ber
January
February
March
April
May
CONSTRUCTION AND REAL. ESTATE—Continued
CONTRACT AWARDS, PERMITS, AND
DWELLING UNITS PROVIDED—Con.
Indexes of building construction (based on
bldg. permits issued, U. S. Dept. of
Labor) :f
Number of new dwelling units provided
1935-39=100..
80.3
Permit valuation:
Total building construction
do
57. 3
New residential buildings
do |
61.1
New nonresidential buildings
do
48.3
Additions, alterations, and repairs-do
71.7
Estimated number of new dwelling units in
nonfarm areas (U. S. Dept. of Labor):
Total nonfarm (quarterly)*
number
81, 300
Urban, total
do
13,930
I-family dwellings
do
9, 948
2-family dwellings
do
1,686
2, 296
Multifamily dwellings
do
Engineering construction:
Contract awards (E. N. R.)§.__thous. of dol.. 274, 493
126. 3
100. 2
104. 6
86.3
166,400
22,069
13,961
1,104
7,004
17,027
10, 281
1,314
5,432
17,048
12, 253
771
4,024
968,938 1,201,526 813,077
21,772
16,448
1,133
4,191
14,522
10,671
926
2,925
89, 200
13,157
9,761
1,058
2,338
712, 709 691,979
607, 622
373, 622
99, 500
22,0.67
11,694
1,150
9, 223
142. 4
102.9
90.8
89.5
' 119. 3
70.8
83.6
72.2
38.9
53.5
64. 5
48.7
41.3
53.1
66.4
44.1
46.5
54.7
63.9
45.5
57.8
'56.0
'78.8
'35.3
'58.4
24,692
16, 492
877
7,323
17,679
13, 582
588
3, 509
118,500
15, 538
11,881
1,104
2,553
15, 686
12,052
1,353
2,281
226, 826 306, 242 305,973
379, 068
273, 650
3,848
2,240
7,842
5,711
1,346
r
20, 684
16, 664
1,646
2,374
HIGHWAY CONSTRUCTION
Concrete pavement contract awards: %
Total
thous. sq. yd..
Airports
do
Roads..
do
Streets and alleys
do
Status of highway and grade crossing projects
administered by Public Roads Adrnn.^
Highways:
Approved for construction:
Mileage
no. of miles..
Federal funds
.thous. of dol..
Under construction:
Mileage
...
_no. of miles..
Federal funds
thous. of dol_.
Estimated cost
do
Grade crossings:
Approved for construction:
Federal funds
do
Estimated cost—
do
Under construction:
Federal funds
___._do
Estimated cost
.
do
8,027
6, 325
1,104
15, 266
11,038
2,060
2,167
14,947
11,366
1,927
1,655
13, 947
10,091
2,653
1,202
20,090
16, 935
1, 518
1,637
12, 453
7, 600
2,806
2,047
8,671
5,821
1,406
1,444
7,734
5,074
1,488
1,171
6, 237
5,065
541
631
6,872
5,644
649
579
7,242
5,466
927
850
1,654
32,808
1,718
36,170
1,606
37,059
1,534
35,534
1,524
34,968
1, 531
33,435
1,404
29, G34
1,369
29,042
1,352
27, 808
1,401
26,655
4,262
3,714
3,329
4,954
2,955
109, 549 102, 419 98, 230 91,839
88,028
189,077 174,898 165,052 153, 221 143,983
2,807
85,097
139,497
6,071
5,483
122,402 114,997
217, 290 200,868
7,108
7,843
7,358
6,665
7,327
33,413
35, 409
31,299
33, 279
29,412
31, 296
6,797
7,458
26,417
28, 231
5,852
6,512
5,904
6,564
24, 608
26, 387
23,190
24, 835
6,821
7,484
22, 242
23,853
768
840
785
2,176
2, 359
73, 657 67, 716
120, 810 109,824
6,776
7,439
6,854
7, 516
6,300
6,963
21, 201
22, 797
17,905
18,800
15,307
15,947
CONSTRUCTION COST INDEXES
Aberthaw (industrial building)
1914=100
227
225
225
223
American Appraisal Co.:
Average, 30 cities
1913=100
245
246
247
242
246
248
250
244
249
249
249
250
250
Atlanta
do
248
249
250
242
249
250
256
245
254
253
254
253
254
New York
do
250
251
251
250
251
251
252
250
251
251
251
251
252
San Francisco
do
229
229
229
228
229
230
233
229
232
230
230
232
232
241
242
242
St. Louis
do....
238
242
242
243
240
242
242
242
242
243
Associated General Contractors (all types)
1913=100.213.5
213.3
213.3
213.5
213. 5
216.0
207.8
209.9
213.7
214.1
214.1
215.0
216.0
E. H. Boeckh and Associates, Inc.:
Apartments, hotels, and office buildings:
Brick and concrete:
Atlanta
U. S. av., 1926-29=100..
106.1
106.1
107.3
106.1
107.0
107.2
105.6
106.1
107.3
107.3
107.3
107.3
107.3
New York
do
138.2
138.5
138.3
138.2
139.8
139.8
138.2
138.2
140.0
140.0
140.0
140.0
138.1
San Francisco
do
130.0
131.3
132.5
130.0
132.0
132.0
126.6
132.3
130.0
132.3
132.3
132.3
132.3
St. Louis
do
129.6
129.6
131.2
129.6
130.6
130. 6
130.7
129.6
129.6
130.7
130. 7
130.7
131.2
Commercial and factory buildings:
Brick and concrete:
Atlanta
do
106.0
106.0
107.0
106.0
106.0
106.7
106.0
106.9
107.0
107.0
107.0
107.0
107.0
New York
"...do
139.6
140.0
141.0
139.7
139.6
139. 6
141.0
139.6
141.2
141.2
141.2
141.2
139.5
134.4
132.3
134.6
134.4
135.8
132. 3
132.3
San Francisco
do
127.2
135.6
135.6
135. 6
135. 6
135.6
133.4
133.4
132.6
132.6
133.0
132.6
132.6
133. 5
St. Louis
do
132.6
133. 5
133.5
133.5
133.0
Brick and steel:
106.5
106.5
106.5
107.2
106.5
Atlanta
do
107.9
106.5
107.6
107.8
107.8
107. 8
107.9
107.9
137.4
137.4
137.5
138.5
New York
do
137.4
137.4
138.5
137.3
138.9
138.9
138.9
138.9
136.9
133.1
133.1
134.5
135. 3
San Francisco
do
130.4
135.3
133.1
135.7
135.7
136.1
135.7
135.7
135.7
129.4
129.4
129.4
130.2
St. Louis
do
129.4
130. 2
130.4
130.4
129.4
130.4
129.7
130.4
129.7
Residences:
Brick:
104.1
104.1
104.1
Atlanta
do
105.3
103. 8
104.1
107.7
107.4
107.4
107.4
107.7
107.7
139.7
139.9
New York..
do
139.7
139.7
140.9
140.8
139.7
140. 9
142.3
142.3
142.3
142.3
139. 4
125.8
126.
8
San Francisco
do
125.8
131.0
125.8
127.6
127.6
129.6
124.8
129.6
129.6
129. 6
129. 6
126.9
St. Louis
do
126.9
126. 9
126.9
127.2
126.7
127.4
126.7
126. 9
127.4
127.4
127.4
127.2
Frame:
Atlanta
do.
103.6
103.6
103.6
103.3
103.6
105.0
108.0
106.8
107.7
107.7
108.0
107.7
108.0
New York
___do.
141.4
141.4
141.5
142.5
142.9
141.4
141.4
142.5
144.3
144.3
144.3
144.3
141.1
San Francisco...
do.
122.0
123.3
127. 4
122.0
122.5
123.3
120.2
122.0
125.6
125.6
125.6
125. 6
125.6
St. Louis
do.
124.8
125.6
124.9
125.6
124.8
124.8
126.5
124.8
126.5
126. 5
126.5
124.9
124.8
Engineering News Record (all types)
282. 4
1913=100-.
281.6
283.6
289.9
277.7
281.6
283.7
283.5
283.5
285.2
288.8
289.9
289.9
Federal Home Loan Bank Administration:
Standard 6-room frame house:
124.4
123.5
124.5
Combined index
1935-39=100.
123.7
124.0
124.4
126.
124.5
124.7
125.5
126.2
125.7
r 125, 7
Materials
do...
121.5
121.6
121.3
121.2
121. 2
121.5
123.0
121.4
121.5
121.9
121.8 ' 122.2
122.0
Labor
do...
130.2
128.5
129.4
130.2
130.2
127.8
134.3
130.7
ISO. 9
132.5
133.0
133.4
134.3
' Revised.
§Data for July, October, and December 1942 and for April 1943 are for 5 weeks; other months, 4 weeks.
tData represent 4-week periods except for July and October 1942 and March 1943, which cover 5 weeks, December 1942, which covers Nov. 30 to Dec. 31, and January
1943 which covers Jan. 1-30; earlier data published in the Survey similarly cover, in general, 4- and 5-week periods.
IMany projects approved for construction and technically under construction are inactive because of suspensions.
> "New series. For quarterly estimates of total nonfarm dwelling units for 1940 and January-June 1941, see note marked "*" on p. S-4 of the November 1942 Survey; this
series includes data for urban dwelling units shown above by months and data for rural nonfarm dwelling units which are compiled only quarterly.
tData have been revised beginning January 1940 and further revisions of the indexes for 1942 are in progress. Revisions for the latter year are at present available only
for January-June; January to May 1942 data are available on p. S-5 of the May to July 1943 Surveys.
S-6
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the
June
1942 Supplement to the Survey
August 1943
1942
June
July
SepAugust tember
1943
October
Novem- December
ber
January
February
March
April
May
53. 725
70,941
74, 226
60, 702
CONSTRUCTION AND REAL ESTATE—Continued
REAL ESTATE
Fed. Hous. Admn. home mortgage insurance:
Gross mortgages accepted for insurance
thous. of dol.. 67,820
Premium-paying mortgages (cumulative)
thous. of doL. 4,917,446
Estimated total nonfarm mortgages recorded
{$20,000 and under)*
thous of dol.. 342, 250
Estimated new mortgage loans by all savings
and loan associations, total..thous. of doL. 108,876
Classifiod according to purpose:
Mortgage loans on homes:
Construction
do
8, 946
Home ppurchase
H
uc
do
74, 88.5
R
Refinancing
f
i
d
do_
15, 913
Repairs
and reconditioning
do
2,707
p
g
f nilil other
th purposes
6,425
Loans for
do
Classified according to type of association:
Federal
thous. of doL. 46, 730
50, 182
SUite members
.do
11, 964
Nonmcm hers
do
Loans outstanding of agencies under the Federal Home Loan Bank Administration:
Federal Savings and Loan Ass'ns., estimated
mortgages outstanding^
thous. of dol.. 1,865,991
Fed. Home Loan Rks., outstanding advances
to member institutions.
thous. of dol._ 90,192
Home Owners' Loan Corporation, balance of
loans outstanding...
thous. of dol.. 1,441,153
Foreelosures, nonfarm:f
16.1
Index, adjusted
1935-39 = 100..
Fire losses.
.
thous. of dol.. 26,854
98, 800
109,350
109,660
100,456
99,833
73,768
54,086
45,562
4,071 ,838 4,155,187 4,232,030 4,311,126 4,393,862 4,473,021 4,554,952 4,626,857 4,684,367 4,746,755 4,798,799 4,856,452
342; 250
353, 511
336,850
345,964
357,083
278,321
265,406
228,283
219, 882
209, 419
308, 957
327, 092
94, 095
95, 797
92, 563
94,055
91, 672
73,979
70,628
57,856
63, 324
87,185
98,735
100,490
15. 930
52, 112
15, 184
3. 566
7. 303
17,709
52,190
16,097
3,671
6,130
12, 568
55,301
14,019
4,126
6,549
12.449
58.060
14, 063
3.804
5,679
10, 572
56, 528
14,694
3,498
6,380
9,275
43,984
12, 472
3,007
5,241
8,472
41,440
12, 768
2,199
5,749
7,173
32,820
11, 408
1, 667
4,788
4.594
39, 084
12,510
1,953
5,183
8, 572
55, 235
14, 874
2,377
6,127
9,853
65,088
15,040
2, 484
6,270
9,039
67, 826
14,843
2, 606
6,176
35. 279
44, 265
14, 551
37,007
43,665
15,125
36, 620
41.549
14,394
37,987
42, 249
13,819
35,555
41,937
14,180
28,163
35,441
10, 375
27. 381
32,751
10, 496
23.390
26,910
7,556
26, 566
28, 175
8,583
37, 850
38,595
10, 740
42,717
44,461
11, 557
41,835
47,818
10,837
1,849,400 1,852,972 1,856,269 1,861,062 1,862,593 1,862,796 1,853,868 1,843,714 1,839,245 1,839,302 1,846,536 1,849,999
192, 645
173,593
160, 201
144,752
131,377
121,886
129, 213
113,399
95, 624
78, 607
87, 369
79, 221
1,675 ,888 1,657,256 1,640,119 1,622,087 1,603,106 1,586,709 1,567,367 1,547,994 1,528,815 1,504,368 1,482,225 1,460,221
8.0
22, 410
27.9
21,000
24.3
19,680
25. 2
20, 443
24.4
22, 621
23.4
24,144
21.9
36,469
21.0
27,733
18.8
33,175
17.6
39, 214
18.3
34, 241
16.9
29, 297
87.0
60.5
78.7
80.8
85.0
112.4
125.1
97.3
92.1
75.5
82.9
87.4
69.9
123.1
126.6
108.5
89.9
77.4
88.9
82.3
69.2
123. 2
131.1
99.7
12, 346
590
101
96
96
3,277
504
62
977
1, 603
3, 502
1,531
DOMESTIC TRADE
ADVERTISING
Advertising indexes, adjusted:
96.4
Printers' Ink, combined index.-1928-32=100.88.1
Farm papers
do
107. 7
Magazines
..do
86. 6
Newspapers
do
Outdoor
do
Tide, combined index*
1935-39=100..
135. 6
Magazines*
do
145.«
Newspapers*
„
.....
do
106. 4
Radio advertising:
Ccstof far-ilities, total
thous. of dol_. 12, 551
6S2
Automobiles and accessories
...do
Clothing
do
99
79
Electrical household equipment
do
64
Financial
..
do
Foods, food beverages, confections
do
3, 360
Gasoline and oil
do
512
House, furnishings, etc
do
50
Soap, cleansers, etc
do
1,028
Smoking materials
.do
1, 633
3, 624
Toilet goods, medical supplies.
do
All other _.
do
1, 416
'Magazine advertising:
18,45S
Cost, total
do
1, 282
Automobiles and accessories
do
934
Clothing
do
516
Electric household equipment
do
407
Financial
do
2,772
Foods, food beverages, confections
do
412
Gasoline and oil.
do
742
House furnishings, etc
do
470
Soap, cleansers, etc
do
Office furnishings and supplies
-do
2(>7
Smoking materials
_.do
804
Toilet poods, medical supplies.
..do
3, 290
All other
do
6, 557
Linage, total
thous. of lines..
2, 360
Newspaper advertising:
114,016
Linage, total (52 cities)
do
Classified.
do
29, 308
84, 709
Display, t o t a l . .
do
3.079
Automotive—
...do
1, 323
Financial
do
21, 099
General
do
Retail.. ._
do
59, 203
80.9
51.7
77.6
74.2
69.2
112.2
104. 6
91.2
88.0
61.9
90.3
79.0
75.9
123.4
126. 5
100. 5
88.2
63.2
84.2
81.3
72.5
122.6
134.9
101.2
87.6
69.4
81.5
79.4
86.9
122.5
140.0
96.5
84.2
69.8
82.0
77.9
65.6
113.3
127.9
95.8
88.4
73.9
91.7
82.1
55.6
117.1
134.4
100.1
96.8
82.7
101.3
87.6
77.5
118.6
146.1
97.1
84.7
64.8
79.8
77.3
77.1
123.1
159. 6
103.0
64.9
83.1
81.9
77.0
120.0
144.9
103. 4
8,989
8,500
10,332
10, 716
11,234
11,971
429
70
47
49
339
94
53
49
362
115
67
57
361
125
54
60
479
97
55
72
513
92
77
82
2,473
2,162
2,336
3,027
3,027
3,180
3,128
3,288
1, 050
1,299
2,792
1.013
1,329
2, 571
527
623
622
10, 345
348
60
57
62
2. 785
572
48
836
1, 475
3,078
1,024
11,949
367
55
45
41
8,186
448
45
57
53
2,051
342
51
928
1, 252
2,337
8,878
265
62
45
41
1,040
1, 655
3,491
1,246
1,022
1,607
3,319
1,284
13,932
11,109
796
735
213
304
631
25C
213
257
2, 043
1,738
392
536
477
171
732
306
208
320
170
609
2.928
4.604
1,769
2,406
4,001
1,700
12, 415
765
724
126
280
1,785
405
266
378
193
671
2, 268
4, 554
2,072
97.663
20. 608
77, 055
2, 541
1.370
14,841
58,303
89,411
20. 085
69. 326
2.316
1.616
13,987
51,407
367
42
553
349
42
1.347
2,659
1,485
3,081
1,497
3,136
1,069
1.606
3,275
1,061
11,169
347
61
67
76
2,919
646
60
810
1,604
3,410
1,169
15,394
18,189
1.143
1,381
19,450
16,940
12, 631
15, 798
17,459
979
1,144
522
466
607
870
401
336
651
381
199
340
721
725
382
350
956
1,208
1, 186
18, 672
1, 033
1, 25S
2,307
2, 947
3,377
2,608
2,083
2,772
2,722
2,906
2,463
5.593
2,344
2,865
6,099
2,528
3, 075
6,979
2, 650
2,682
7,134
2,033
2,940
5, 785
2,432
3,122
' 6, 032
2,608
94,963 104. 506
21,931
22, 658
73. 032 81.847
2,146
2,481
1,022
1,099
13,195
15, 572
56, 669 62,695
117,442
24,071
93, 371
2,404
1, 233
19,781
69, 953
119.063
22. 996
96. 067
2,787
1,470
21, 775
70, 035
120. 332
21, 756
98, 575
2, 581
1, 467
19,147
75,381
2,166
5,125
2,179
94,488
22, 285
72. 204
1,513
1,887
14, 674
54,130
95, 607
22, 235
73, 372
1, 423
1,232
17,836
52, 881
113,190
26, 925
86, 265
2.500
1, 595
20, 262
61,908
3,242
6, 523
2, 671
125, 282
29,183
96, 099
2,864
1,817
20, 801
70, 617
346
43
929
754
232
425
422
624
350
275
741
480
56
853
815
443
441
415
882
445
298
831
532
54
799
367
757
479
322
983
609
49
904
187
735
270
328
781
146
312
319
166
743
271
342
569
207
733
638
48
351
392
336
597
661
238
866
639
50
452
337
437
802
592
293
796
21. 351
1.452
1,142
571
457
3, 140
492
926
666
353
918
3,650
r 7, 584
2,788
120, 985
31, 220
89, 765
3,220
1, 247
21,179
64,120
GOODS IN WAREHOUSES
Space occupied in public-merchandise ware-.
85.4
84.1
houses §
percent of total
82.1
82.5
83.2 I 81.0
83.6
83.4
83.3
83.7
83.7
r
Revised.
{Minor revisions in the data beginning January 1939; revisions not shown in the September 1942 Survey are available on request.
§See note marked " § " on p. S-6 of the April 1943 Survey with regard to enlargement of the reporting sample in August 1942.
•New series. The series on nonfarm mortgages recorded is compiled by the Federal Home Loan Bank Administration; for information regarding the basis of the estimates
and data for January 1930 to September 194? see note marked "*" on p. S-5of the November 1942 Survey. The new indexes of advertising are compiled by J. K. Lasser & Co.
for "Tide" magazine; the combined index includes radio (network only prior to July 1941 and network and national spot advertising beginning with that month), farm papers,
and outdoor advertising, for which separate indexes are computed by the compiling agency, in addition to magazine and newspaper advertising shown above; data beginning
1935 will be published in a subsequent issue.
fThe index of nonfarm foreclosures has been revised for 1940 and 1941. Revisions are shown on p. S-6 of the May 1943 Survey.
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
S-7
SURVEY OF CURRENT BUSINESS
August 1943
1943
June
June
July
1942
SepAugust tember
1943
October
Novem- December
ber
January
February
March
April
May
DOMESTIC TRADE—Continued
POSTAL BUSINESS
Air mail, pound-mile performance
millions.
Money orders:
Domestic, issued (50 cities):
Number
...
.thousands.
Value
thous. of dol.
Domestic, paid (50 cities):
Number
.thousands.
Value
thous. of dol.
3,130
3,443
3,661
3,870
4,335
4,338
7,770
158,381
6,312
73,783
5, 573
65, 221
5, 495
5,952
78, 701
6,022
78, 748
7,748
75, 475
8,201
90, 554
7,632
86, 624
5,983
92,987
17, 636
262, 532
16,865
162, 616
16, 071
152, 047
14, 582
142, 851
16, 308
174, 772
17, 386
180, 535
15.649
162,162
18, 376
196, 067
16, 681
176, 866
15,209
171,967
v 5,068
6,572
4,277
2,295
6,526
4,224
2,301
6,753
4,442
2,312
7,028
4, 698
2,330
7,520
5,179
2,340
7,195
4,820
2,375
8. 352
5,976
2,376
6,7Q0
4,383
2,407
r 6,842
4,454
2,388
r 7, 333
4,910
' 2, 424
7,416
4, 984
2,432
7,345
' 4,950
2,394
134. 4
137. 2
129.4
135.1
138. 0
129.9
131.3
132. 6
128.9
139.0
144.1
130.1
136. 4
140.3
129.5
143.1
149.6
131.6
145. 2
153.1
131.3
141.7
147.4
131.6
148.9
159.1
131. 1
145.0
153.0
130.9
151.7
161.8
133. 9
148.2
156.2
134.2
168.1
188.1
132.9
142.6
148.5
132.2
138. 5
140.7
134.7
149.5
158.8
133.1
' 147. 8
154.2
' 136.7
r 158. 3
172.0
' 134. 4
' 146.0
151.8
'135.7
-• l.F;2. 5
161.8
r
136.1
151. 5
159. 7
137.2
150. 1
157.9
136.3
149.9
' 158.9
134. 1
150.7
" 159.6
135. 2
6,923
99,878
21, 350
18, 269
15,011
338, 616 243, S25 174, 880
9,527
178,211
7,281
101, 268
CONSUMER EXPENDITURES
Expenditures for goods and services:*
Total
...mil. of doL
Goods
do...
Services (including gifts)
do...
fndexes:
Unadjusted, total
1935-39=100.
Goodsdo...
Services (including gifts)
do...
Adjusted, total
do.-_
Goods
do...
Services (including gifts)
-do...
VI62." 4
Vl63.~8
RETAIL TRADE
4,433
4,504
5,067
4,503
4,615
4,843
5,926
5,182 '5,113
5, 228
4,840
5, 257
4,426
All retail stores, total salesf..
. . m i l . of doL.
r
815
898
837
813
656
772
937
644
Durable goods stores
do
846
838
874
884
893
4,330
4,252
3,666
3,782
3,848
3,620
3,769
4,003
4,989
Nondurable goods storesf
-do
4,384
4,071
4,298 ' 4, 220
By kinds of business:
r
479
537
470
352
302
365
702
456
406
543
477
A pparel
do
528
464
199
277
269
269
208
273
260
247
205
284
211
Autom otive
do
240
'280
244
352
336
336
300
298
354
342
235
332
289
Building materials and hardware
do....
351
'333
193
226
190
195
280
209
181
194
203
215
200
Drug
.do
207
'228
524
634
495
525
540
589
468
529
523
602
501
546
Eating and drinkingfdo
'636
1, 257
1, 351
1, 285
1.274
1,407
1,248
1,275
1,421
1,301
1,293
1,277
1.377
Food stores
__
do.._.
' 1, 320
193
239
317
280
218
286
280
199
192
225
277
283
Filling stations
-do
234
684
771
583
662
741
648
765
621
802
846
1,214
880
General merchandise
do
'752
163
198
162
187
191
174
193
157
209
201
261
219
Household furnishings
do
'212
565
643
493
522
670
532
558
583
678
565
801
628
' 656
Other retail storest
do
All retail stores, indexes of sales:
161.8
139.4
152. 5
137. 5
150.5
160.2 r 158.8
134.5
157.4
180.1
151.2
140.7
155. 8
Unadjusted, combined indexf.-1935-39—100..
113.0
105.4
101.2
108. 3
116.8
82.6
89.1
111.3 '113.3
102.9
99.0
104.4
105.0
Durable goods stores
do
177.6
200.7
150. 5
145. 3
166.9
155.6
170. 4
176. 1 ' 173. 6
175.1
168.1
152. 5
172.3
Nondurable goods storesf
do
163.0
143.3
140.
4
146.
1
156.7
170.2
156. 8
157. 9
146. 2
152.3
159. 9
149.6
149.3
Adjusted, combined indexf
do.
106.3
94.5
99. 5
103.2
102 6
108.8
111.4 ' 104. 7
100.6
110.4
103.9
105.1
100. 8
Dnrable goods stores
_.do.
181.4
159.2
r
175. 2
153.7
160.0
174.3
190.1
171.5
169.1
176.0
164.1
165.1
160.0
Nondurable goods storest_.do_
By kinds of business, adjusted:
142.3
198.1
216.
8
163.1
182.1
180.7
163.5
106. 0
166.3
197.8
Apparel.
do.
260.8
184.6 ' 184. 9
61.2
46.8
65.4
61.4
49.8
61.5
58.3
54.7
47.5
62.3
Automotive §
do.
50 4
67.1 ' 63.9
153.4
163.8
152.7
157.0
147.5
156. 9
153.1
147.0
149.0
158.6
Build ing materials and hardware
do
176.6
155. 8 ' 143. 7
176.5
193.4
162. 2
174.9
168. 7
163.9
174.0
180.5
177.5
155. 6
Drug
do...
176.2
185. 0
189. 6
230. 4
245. 3
208.8
190. 3
201.0
209.3
207.2
239.3
181.0
188.3
Eating and drinkingf
do.._
252. 8
241. 7 ' 243. 6
172.6
169.1
167.8
166. 5
160.4
166.7
164.2
174.5
156. 3
159.3
Food stores.
.
do...
173.4
162. 1 ' im. 2
111 5
104.2
136.3
115.3
124.8
128.9
96.8
111.9
124.6
141.4
Filling stations
do...
123.8
109.7
105. 7
156.4
151.5
155.0
147.1
142.0
144.3
135.6
154. 8
127.2
139.0
176. 8
147. 7 ' 147. 0
General merchandise
do...
161.8
140.2
157.
6
138.2
142.3
145. 7
1386
159.3
123.4
136. 7
159. 2
151.8 ' 144. 2
Household furnishings
do._.
190.9
236.6
182.8
189.9
183.6
189.3
179.9
197.1
200.6
188.8
203.6
213.7 ' 231. 2
Other retail storesf
do...
Chain-store sales, indexes:
Chain-store Age, combined index C20 chains)
178.0
171.0
182.0
177.0
average same month 1929-31 = 100..
183.0
187.0
175.0
177.0
194. 0
180.0
181.0
171.0
175.0
208.0
200.0
243.0
Apparel chains
do...
172.0
212.0
220.0
216.0
239.0
218.0
228.0
295.0
228. 0
208.0
Drue chain-store sales:
132. 3
155. 5
129. 5
140.2
135. 2
149.3
210.3
132.7
141.6
Unadjusted
1935-39=100.
136.0
148. 4
151. 7
155.0
164. 5
142.3
138.2
146. 3
137.0
154.6
145. 5
Adjusted
do...
147.1
141.0
149.1
156.9
160.3
138.8
Grocery chain-store sales:
v 156. 3
173.4
167.3
169.0
168. 9
166.4
170.9
169. 5
167.0
158.0
165. 5
154. 9
Unadjusted
.
1935-39= 100.
153.3
v 154.0
172.4
162.1
162. 8
170.8
174.3
172.4
163.9
Adjusted
do...
170.0
169.5
152.6
165. 6
148.8
Variety-store sales, combined sales. 7 chains:
139. 6
132.2
106.1
125.1
129.1
124.8
137.8
161.6
263.0
133.9
140.9
123. 6
139.9
Unadjusted
1935-39=100
147. 3
136.2
139.2
143.4
142. 3
143.4
143. 2
144.6
138.9
157.0
157.6
140.0
Adjusted.
do...
147.4
Chain-store sales and stores operated:
Variety chains:
S. S. Kresge Co.:
12, 277
14, 536
13, 565
14, 781
14,997
16,610
28, 667
13, 097
14, 069
16, 060
17, 237
14, 631
Bales
thous. of dol.. 15,167
661
672
661
673
671
665
663
671
671
671
671
Stores operated
number.662
661
S. H . Kress & Co.:
9,612
8,733
9,634
9,105
9,607
9, 599
11,046
8,063
10,013
9,610
10,278
18,397
8, 750
Sales . . .
thous. of dol
245
246
245
244
244
244
246
246
244
245
245
244
Stores operated
number.
244
McCrory Stores Corp.:
5,188
5,023
4,323
5,192
4,833
4,504
4,671
5, 017
5,656
5,648
10,464
5, 631
5,163
Sales . . .
thous. of dol.
202
202
202
203
203
203
203
203
203
203
202
202
Stores operated
__.number.
202
G. C. Murphy Co.:
6,094
5, 481
6, 205
5,775
6,156
6,719
12, 269
5,598
7,335
6,051
7,010
Sales..
thous. of d o l . . 6, 864
208
207
207
208
207
207
207
207
207
207
208 !
207
Stores operated
.number. _
208
F. W. Wool worth Co.:
33,025
33,
675
36,
376
64,
240
29,
639
34,
677
33,847
38,
475
30,
965
37,317
i
34,
859
32,
901
31,
705
Sales
thous. of dol
2,012
2,012
2, 015
2,012
2, 009 I 2,008
2,009
2,011
2,011
2,018
2,015
2,010
2,017
Stores operated
number..
'Revised.
»Preliminary.
§Since November 1941, seasonal adjustment factors of 100 have been used for this group.
tRevised scries. Data for sales of "eating and drinking places," "other retail stores," and the totals for nondurable goods stores and all retail stores, have been revised
beginning 1935; revised monthly data beginning August 1941 are shown in the October 1942 Survey and revised 1941 monthly averages are in note marked " t " on p . S-7 of the
April 1943 issue; all revisions will be published in a subsequent issue.
*New series. The data on consumer expenditures have been revised beginning 1935. A detailed description of the series, as originally compiled, appears on p p . 8-14 of
the October 1942 Survey and a subsequent change in the concepts is outlined in the descriptive notes for table 10, lines 16 to 19, included on p . 24 of the March 1943 issue.
Revised dollar figures are available as follows: 1939-41, p . 7 of the April 1943 Survey; January and March 1942, p . S-7 of the M a y 1943 Survey; February 1942, p . S-7 of the
April 1943 issue; annual dollar figures for years prior to 1939 for the total only are on p . 12, table 3, of the M a y 1942 issue. The indexes are shown on a revised basis in the
July 1943 Survey. All revisions will be published later.
S-8
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the
June
1942 Supplement to the Survey
August 1943
1943
1942
June
July
August
September
October
Novem- December
ber
January
February
Alarch
April j May
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
Chain-store sales and stores operated—Con.
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:
Accounts receivable:
Instalment accounts!-..Dec. 31, 1939=100..
Open accounts!
do
Collections:
Instalment accounts!
percent of accounts receivable..
29
Open accounts!
do
62
Sales, total U. S., unadjusted.. 1923-25-100..
124
178
Atlanta!
193.5-39=100..
95
Boston
1923-25 = 100..
143
Chicago
.
1935-39-100..
154
Cleveland!-...._.
do
183
Dallas
1923-25 = 100..
148
Kansas City
1925 = 100..
145
Minneapolis
1935-39=100..
110
New York
1923-25 = 100..
134
Philadelphia
. . . . 1935-39=100..
175
Richmond
do
132
St. LouisJ
1923-25=100..
P182
San Francisco
1935-39=100-.
129
Sales, total U. S., adjusted
1923-25=100..
205
Atlantaf
1935-39=100..
147
Chicago
do
161
Cleveland!
do
206
Dallas
1923-25 = 100-.
146
Minneapolis
1935-39=100..
115
NewYorkt
1923-25=100.
140
Philadelphia
1935-39=100..
185
Richmond
._
do
143
St. L o u i s i - 1923-25=100..
San Francisco
_. 1935-39=100..
Instalment sales, New England dept. stores
percent of total sales..
Stocks, total U. S., end of month:
Unadjusted
1923-25=100..
Adjusted
do
Other stores, instalment accounts and collections:*
Instalment accounts outstanding, end of mo.:
Furniture stores
Dec. 31, 1939=100..
Household appliance stores
do
Jewelry stores
do
Ratio of collections to accounts at beginning
of month:
21
Furniture stores
percent. .
20
Household appliance stores __
do
33
Jewelry stores
do
Mail-order and store sales:
121,285
Total sales, 2 companies
thous. of doL.
52,140
Montgomery Ward & Co
do
Sears, Roebuck & Co
do.... 69,145
Rural sales of general merchandise:
Total U. S., unadjusted
1929-31=100..
161.6
East
do
152.7
South
.
do....
192.3
145.9
Middle West
do....
205.7
Far West
do
177.4
Total U. S., adjusted
do....
166.3
East
do
239.2
South
do
154.5
Middle West
do....
215.8
Far West
.do
12,217
494
10, 441
494
11,442
494
12, 648
494
15,111
493
14,382
493
25, 138
493
9, 382
496
10,433
492
11,956
493
13, 824
493
13,559
493
38, 451
1, 609
34, 683
1,610
40, 523
1,611
47, 467
1,611
54, 294
1,611
49, 426
1.611
63. 320
1,611
29, 729
1, 611
32. 890
1,611
35, 517
1,610
40,623
1,610
38, 576
1,610
74
53
71
53
67
63
65
69
65
70
68
91
62
69
58
65
54
65
22
56
100
124
85
r
120
128
109
9S
117
92
116
137
99
137
104
143
'124
134
123
117
97
122
144
108
149
23
60
83
116
67
97
105
100
88
94
81
92
120
87
138
121
162
139
143
143
133
114
139
170
126
166
24
59
103
144
75
117
134
127
114
115
94
112
147
114
158
130
169
148
157
165
131
123
152
194
152
172
25
60
133
171
105
155
161
171
133
145
120
143
174
131
184
123
161
141
146
154
126
112
133
170
122
176
29
65
137
183
117
154
165
170
146
156
130
160
211
145
191
128
173
147
158
150
131
115
139
170
129
182
29
63
157
206
116
168
187
191
147
144
144
182
203
158
219
138
186
153
170
171
144
121
142
193
135
210
31
65
222
286
181
246
252
280
231
219
215
262
304
212
296
125
166
146
146
162
141
119
140
164
129
173
28
61
111
151
89
123
132
155
126
114
97
112
134
117
150
143
195
155
179
204
143
123
157
197
146
195
28
61
132
190
90
155
155
205
140
132
112
137
161
143
184
168
216
185
194
241
187
138
185
234
166
238
31
62
121
171
101
136
144
160
144
134
104
135
171
124
'171
136
182
149
169
172
137
127
154
180
138
'196
31
63
133
196
107
151
162
192
150
156
'116
148
190
136
188
128
188
144
151
190
147
'114
155
181
129
190
5.4
6.2
9.1
7.0
7.8
7.8
5.0
7.8
7.6
6.3
6,3
5.1
'130
136
126
'141
' 132
137
' 130
'125
'128
'115
'122
105
'95
100
'92
102
89
93
r Q3
91
90
87
'92
'90
85
71
73
80
64
69
76
59
65
73
54
63
70
50
63
69
46
'79
64
41
'65
60
36
'58
14
13
22
16
13
25
16
14
26
18
15
30
17
15
31
18
15
45
17
'16
'31
17
16
'30
19
18
'30
117, 597 104,118
48, 476 42, 521
69,121
61, 597
113,447
48, 741
64, 706
142,022
61, 495
80, 527
174,045
76,068
97, 977
153, 406
68, 396
85,010
193,412
86, 472
106, 941
96,682
39,983
56, 699
99, 300
41,443
57,857
118, 532
52,192
66,340
160.8
153.3
178.0
135. 5
207. 8
196.6
192.4
246.9
164.3
225.6
214.2
201.2
262.8
185.7
272.2
202.6
204.6
238.0
181.1
232.6
250.5
245.4
362. 2
210.8
276.2
192.8
190.7
244.4
166.0
230.0
253. 6
266.2
334.6
216.5
298.6
194.9
206.5
243.7
165.2
246.2
272.7
273.2
325.8
243.0
324.5
170.5
164.1
216.9
155.8
298.8
152.2
149.7
193.1
136.0
171.8
200.0
197.0
244.1
177.8
233.7
174,3
164.0
245.8
151 9
192! 3
215.5
200.5
224.1
191.0
259.9
185.6
173.5
239.7
158.9
193.3
211.3
193.2
265.4
179.3
234.9
14
13
22
160.3
162.9
179.4
144.0
203.6
176.0
177.4
223.1
152.5
213.7
137.3
128.1
158.6
118.9
193.8
188.1
179.9
233.5
161.2
236.3
r
48
62
57
32
53
30
63
125
193
101
138
154
191
137
135
'108
139
181
129
'180
125
196
136
152
191
136
'115
141
rl82
129
'187
55
26
49
20
'18
'31
22
20
33
133, 981 120,845
60, 656 54,099
73,325 66,746
194.3
198.1
227.3
175.0
215.0
211.4
207.8
258.0
187.3
240.7
160.5
157.1
197.5
141.5
186.1
174.9
170.7
232.8
149.4
207.0
EMPLOYMENT CONDITIONS AND WAGES
EMPLOYMENT
Estimated civilian labor force (Bureau of the
Census):*
56.1
56.2
52.4
52.3
Labor force, total
millions..
54.6
56.8
54.1
54.0
54.5
53.4
52.0
52.1
53.0
Male
do
36.7
37.3
41.1
41.6
41.1
39.2
39.0
38.5
37.9
37.1
36.7
36.4
36.5
Female
do
16.3
17.3
15.0
15.2
15.1
14.9
15.0
16.0
15.5
15.3
15.6
15.6
15.6
Employment
do
52.1
53.4
53.3
54.0
54.0
52.4
52.4
52.8
51.9
51.0
50.9
51.0
51.2
Male
...
do
36.2
36.7
39.4
39.9
39.7
38.2
38.1
37.5
37.0
36.3
35.9
35.8
36.0
Female
.
do
15.9
16.7
13.9
14.1
14.3
14.2
14.3
15.3
14.9
14.7
15.0
15.2
15.2
Agricultural
.
..do
9.8
8.9
8.8
8.7
9.6
10.8
9.0
11.9
11.5
11.7
11.2
10.2
10.5
41.3
Nonapri cultural
do
41.5
41.8
42.3
42.8
42.2
41.9
43.0
43.0
42.3
42.1
42.0
41.6
1.2
2.8
2.8
2.2
1.4
1.5
.9
Unemployment
do
1.6
1.7
1.4
.9
1.7
1.0
r
Revised.
* Preliminary.
§Data for 1940-41 revised slightly and rounded to nearest percent; revisions prior to November 1941, which have not been published, are available on request.
^The index on a 1935-39 base shown in the 1942 Supplement is in process of revision; pending completion of the revision, the index on a 1923-25 base is being continued.
JA few revisions in data for 1938-41, resulting from changes in the seasonal adjustment factors, are shown on p. S-8 of the November 1942 Survey.
fRevised series. Indexes of department store sales for Atlanta district revised beginning 1935, see p. 22, table 19, of the December 1942 Survey. Revised data beginning
1919 for the Cleveland district are shown on p. 32 of the April 1943 issue.
*New series. Indexes of instalment accounts and collection ratios for furniture, jewelry, and household appliance stores are available beginning February 1941 on p, S-8
of the April 1942 Survey and subsequent issues; earlier data back to January 1940 are available on request (a new series on amount of instalment accounts outstanding is
included on p. S-16). For estimates of civilian labor force, employment, and unemployment beginning April 1940, see p. 30, table 9, of the June 1943 Survey.
S-9
SURVEY OF CURRENT BUSINESS
August 1943
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the
June
1942 Supplement to the Survey
1942
June
July
August
September
1943
October
Novem- December
ber
January
February
March
April
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT—Continued
Employees in nonagricultural establishments:!
Unadjusted (U.S. Department of Labor):
37, 802
38, 478
36, 665
37, 234
38,348
38, 533
38,942
37,862
37,958 ' 38,115 ' 38, 336 ' 38,262
Total
thousands
38, 328
15,313
14,302
14, 641
15, 233
14,980
15,434
15,684
15,743
Manufacturing
do
15,851
15,958
16 008
15 956 ' 15 911
910
902
885
921
923
918
894
Mining
. _
do
867
861
867
'837
' 835
850
2,185
1,991
2,181
1,674
Construction.
do..-.
2,108
2,028
1,896
1,470
1,386
1, 357
1 200
1 328 ' 1, 299
3,542
3, 484
3,533
3,539
3,502
3, 519
3,520
3,463
3,475
3,456
Transportation and public utilities.do
3,649
r 3, 587
3, 552
6, 606
6,561
7,107
6, 504
6,496
6,697
6,771
6,371
6,291
6,328
Trade
do
' 6, 331
6, 349
6,423
r
4,324
4,279
4,355
4,397
4,295
4, 259
4,371
4,327
4,270
Financial, service, and miscl
do
4,281
4 349
4 ^ 50
4 337
5,037
5,184
5,323
5,520
5,672
5,723
5,689
5,811
5,837
' 5, 855 ' 5,890
Government _ . _ _ _ _ _ _ _ do . . . 5,937
' 5,948
Adjusted (Federal Reserve):
38, 842
38, 821 ' 38, 656 ' 38, 478 ' 38, 222
Total .
_
do _.- 38, 201 36, 461
37, 051
37, 433
37, 645
37, 962
38,325
38. 791
15.687
15,975
14, 382
14, 640
14, 819
15,006
15,162
15,349
Manufacturing
do
16, 043 ' 16,025 ' 15,998
15,932
16, 092
'884
873
929
929
918
900
888
883
Mining
do _
864
870
'842
858
841
2,004
1,748
1,768
1,851
1,916
1,959
1,902
1,889
1,564
Construction..
do . . . 1, 057
1,843
1, 363 ' 1, 213
3,535
3,545
3. 446
3,471
3,490
3,482
3,466
3,508
3,551
3,549
' 3, 577
Transportation and public utilities. do
3, 605
3,572
6,635
6,458
6,610
6,609
6,607
6,523
6,619
6,673
6,424
6,513
' 6, 357
Trade
do
6, 352
6,433
Estimated wage earners in manufacturing industries, total (U. S. Dept. of Labor)*
12, 282
12,869
13,079
12, 564
13,166
13,267
13,474
13,503
13,633 ' 13, 727 ' 13,733 ' 13, 694
thousands.. 13,778
7,192
6,823
7,313
7,464
7,003
7,597
Durable goods.
do
8,099
8 212
7,780
7,875
7,998
r 8, 159
' 8,145
1,599
1,612
1,620
1,621
1,635
1,643
1,676
Iron and steel and their products
.do
1,693
1,715
1,726
1,715
' 1, 729 ' 1, 718
Blast furnaces, steel works, and rolling
593
532
525
522
mills
thousands
549
540
518
524
523
522
546
523
564
649
528
542
586
630
610
661
676
693
Electrical machinery. _ _
. . do . _
'695
699
695
r
1,114
1,190
1,202
1,078
1,126
1,148
1,168
Machinery, except electrical
do
1,233
3,094
1,220
1 243
1 250
1 237
Machinery and machine-shop products
465
418
435
449
425
440
457
469
thousands. .
476
483
491
487
485
592
534
556
631
642
513
572
649
613
Automobiles . . . .
do .
667
'660
653
Transportation equipment, except automo1,443
1,999
1,559
1,673
1,752
1,909
2,132
biles
__
thousands
1,836
2,067
2,187
r 2, 241
2,270
2,221
405
392
398
412
381
408
390
410
Nonferrous metals and products
do . . .
414
378
387
411
410
555
535
515
559
561
546
526
489
478
479
'479
Lumber and timber basic products._.do....
481
480
312
313
303
295
290
262
313
266
Sawmills . . .
do _ .
260
263
282
262
Furniture and finished lumber products
369
362
381
367
368
363
365
364
374
thousands ...
364
'356
355
360
174
172
170
170
173
Furniture
do
170
171
168
170
167
168
168
369
359
376
369
370
368
362
368
368
Stone, clay, and glass products
.do
358
357
'359
361
5,459
5,677
5,702
5,694
Nondurable goods
. _ _ . do . .
5,561
5,766
5,670
5,628
5,627
5,635
5, 566
' 5, 535
' 5, 588
Textile-mill products and other fiber manu1,298
1,283
1,293
1,272
1,275
1,277
1,287
factures
. . thousands .
1,273
1,275
1,270
1,239
1 229
1 254
Cotton manufactures, except small wares
509
509
507
505
505
506
510
504
505
502
490
thousands
497
103
106
105
99
99
98
98
100
Silk and rayon goods
.
do . . .
98
98
96
97
Woolen and worsted manufactures (ex183
183
181
180
177
176
177
176
175
174
cept dyeing and finishing) thousands _
170
171
Apparel and other finished textile products
915
873
887
884
903
'863
907
904
886
897
thousands..
853
866
889
242
Men's clothing
_
do
248
235
236
237
234
241
246
240
247
242
240
252
252
229
252
247
248
253
241
253
248
231
Women's clothing
do
249
359
361
377
367
364
354
333
374
363
337
357
357
Leather and leather products
do
346
209
202
187
214
204
204
197
213
200
199
201
Boots and shoes
do
193
921
914
947
1,125
965
936
1,052
1,099
1,038
1,018
1,210
Food and kindred products
.do
951
910
252
254
245
263
264
247
265
Baking
_
do
254
263
247
258
258
92
80
248
322
114
95
90
120
191
136
Canning and preserving
do
191
90
167
154
179
185
177
174
187
178
174
176
180
156
Slaughtering and meat packing
do
93
89*
99
94
97
99
96
92
98
100
94
Tobacco manufactures . .
do .
'89
92
312
313
315
312
309
309
302
298
312
300
304
297
313
Paper and allied products.
do
150
149
152
150
151
151
149
160
155
151
151
Paper and pulp. _
do
150
Printing, publishing, and allied industries
333
342
335
338
334
329
325
325
338
323
330
325
331
thousands. .
702
715
734
'737
726
623
6&3
600
649
673
Chemicals and allied products
do
613
742
744
114
113
112
112
111
113
111
111
111
111
111
Chemicals
do
112
124
125
122
129
124
123
123
125
122
128
129
128
126
Products of petroleum and coal
do
80
77
78
79
78
77
80
79
78
Petroleum refining
do
80
81
81
'186
185
188
186
183
186
158
169
180
146
153
164
174
Rubber products
_
do
83
82
83
83
62
68
80
81
73
77
Rubber tires and inner tubes
do
66
70
Wage earners, all manufacturing industries, un168.2
166.4
164.8
149.9
161.9
164.5
167.6
160.7
' 167. 6 ' 167. 2
adjusted (U. S. Dept. of Labor) f.l939=100. .
153.4
157.1
159.6
227.4
224.3
199.2
221.5
215.5
' 225. 6 ' 225.9
Durable goods.
do
188.9
218.1
193.9
202.5
206.7
210.4
' 173.2
174.1
173.0
' 174.4
163.4
170.7
173.0
165.7
169.1
161.3
162.5
163.5
164.9
Iron and steel and their products
do
Blast furnaces, steel works, and rolling
134.5
134.9
134.3
134.7
134.6
138.9
134.5
141.3
135.5
140.4
137.0
133.4
mills
1939=100...
' 268. 3
260.8
267.4
268.4
"269.8
255.1
217.8
250.3
203.6
235.3
209.1
226.3
243.0
Electrical machinery
do
' 235. 2
233.3
234.1
230.8
236.6
227.5
210.7
225.1
204.0
217.3
Machinery, except electrical __
do .
207.0
213.0
221.0
Machinery and machine-shop products
242.6
235.5
238.7
240.9
231.7
214.9
230.0
209.9
217.5
222.0
226.0
206.6
1939=100..
159.5
161.4
162.3
156.7
165.7
152.5
138.2
r 164. 0
127.4
132.6
142.3
147.1
Automobiles
do
120.6
Transportation equipment, except auto909.1
982.5 1,054. 3 1,104. 0 1,156.5 1, 202. 8 1, 259. 2 1, 302. 2 1,343.1 1,378.1 1,399. 3 '1,412.0
mobiles
1939=100.. 1,430.4
178.8
179.2
179.6
180.6
178.8
176.7
178.1
164.9
169.0
170.3
171.2
173.5
166.3
Nonferrous metals and products.
do
••114.0
114.5
114.1
113.8
122.5
114.0
116.3
132.0
133.5
129.9
127.2
125.1
133.0
Lumber and timber basic products..do
91.2
91.1
90.4
97.9
90.8
92.4
108.2
108.5
105.0
102.5
100.6
108 7
Sawmills
do
Furniture and finished lumber products
108.6
111.0
109.8
108.3
110.2
111.4
111.0
116.2
112.4
112.0
112.3
110.5
114.0
1939=100104.9
107.1
105.6
106.7
105.5
107.2
107.9
107.0
105.8
Furniture
do
109.6
106.6
108.3
' 122. 3
123.2
122.4
122.0
121.5
125.2
125.4
1.22.8
128.1
125.8
125.3
125.7
126.1
Stone, clay, and glass products..
do
r
Revised.
fRevised series. The estimates of employees in nonagricultural establishments and in each of the component groups, with the exception of the trade group and the
financial, service, and miscellaneous group, have been revised beginning 1939 and revisions of the earlier data are in progress; the revised data will be published when revisions
are completed (data beginning August 1941 are in the October 1942 Survey). The indexes of wage-earner employment and of wage-earner pay rolls (pp. S-ll and S-12) in
manufacturing industries have been completely revised; for 1939-41 data for the individual industries and 1939-40 data for all manufacturing, durable goods, nondurable
goods, and the industry groups, see pp. 23-24 of the December 1942 Survey. Indexes for the totals and the industry groups have been further revised beginning January
1941; data for 1941 are shown on p. 28, table 3, of the March 1943 issue.
•New series. Data beginning 1939 for the new series on wage earners in manufacturing industries will be shown in a later issue; data for the individual industries beginning October 1941 are available on pp. S-8 and S-9 of the December 1942 Survey; the figures for all manufacturing, durable goods, nondurable goods, and the industry groups
are shown on a revised basis beginning with the March 1943 Survey and figures previously published for these series are not comparable with the current data.
S-10
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the June
1942 Supplement to the Survey
August 1943
1942
June
July
August
September
1943
October
Novem- December
ber
January
February
March
April
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT—Continued
Wage earners, all mfg., unadj.f—Con.
r
125.9
123.9
123.8
124.3
119.2
121.4
124.5
122.9
<• 122.9 122.0
Nondurable goods
1939=100..
120. S
121.5
Textile-mill products and other fiber manu113.4
112.5
112.2
111.2
113.0
111.3
111.1
111.5
facturers
1939=100..
109.6
108.3
107.4
Cotton manufactures, except small wares
127.7
127.7
128.9
128.5
128.0
127.7
127. 5
128.5
127.2
126.9
1939=100..
125.5
123.7
88.4
87.8
86.0
81.9
83.2
82.7
81.6
Silk and rayon goods
do
82.7
81.7
81.8
80.8
Woolen and worsted manufacturers (ex80.1
117.4
121.3
120.3
118.7
118.1
118.5
122.7
122.5
117.9
116.9
cept dyeing and finishing)...1939=100..
114. 6
Apparel and ether finished textile products
113.8
110.6
115.9
115.0
114.5
112.3
112.2
109.7
112.0
113. 7
114.4
1939=100..
112.6
108.1
107.8
113.4
113.1
107.6
112.5
108.2
110.1
111.0
109.7
110.6
Men's clothing
.do
109.7 ' 109. 3
91.4
84.3
92.9
92.1
92.5
91.1
91.2
85.0
92.8
93.2
Women's clothing
do
91.6
106.9
105.8
102.8
104.7
104.1
108.6
103.
0
104.9
107.7
103.
3
101.9
Leather and leather products
.-.do
99 8
96.0
88.7
93.4
98.2
95.6
91.7
93.5
97.6
91.3
92.1
92.8
90.5
Boots and shoes
do
88.5
'97.0
121.5
119.1
109.5
110.8
123.1
131.7
141.6
128.6
112.9
107.7
Food and kindred products
do
106. 5
III. 3
85.9
114.1
114.4
111.8
113.6
109.2
114.7
110.1
106.0
110.0
111.6
Baking
„
do
107.1 ' 106. 9
101.3
89.1
142.3
184. 5
239.7
142.4
84.5
67.0
70.5
59.5
Canning and preserving
do
66.9
107.1
145. 8
147.3
155. 0
153. 7
149.1
148.6
146.8
144.0
144.6
138.4
Slaughtering and meat packing
do
129 3
68.2
106.8
105.2
106.3
102.4
100. 2
100.2
103.5
106.4
99.9
95.2
99.0
Tobacco manufactures
„
do
98.6
127.8
114.7
117.8
118.0
117.7
113.7
112.3
111.9
113.1
116.4
116.6
118.6
Paper and allied products
do
117.7
-95.1
109.3
109.6
109.3
116.6
109.7
109.5
112.5
110.6
110.0
Paper and pulp
do
108. 4 r 117.7
Printing, publishing, and allied industries
108.4
98.5
103.1
104.3
99.1
100.9
102.2
99.3
103.
0
99.0
101.8
1939=100101. 5
100.6
' 100. 4
240.3
208.3
212.8
216.3
225.1
233.4
243.7
251.9
248.0
254.8
257.5
Chemioals and allied products
do
258. 3
' 255. 8
159.7
159.2
160.4
158.9
161.3
158.9
159.8
161.7
160.7
160. 2
Chemicals.
do
162.4
163.2
117.8
120.7
120.8
117.4
115. 2
121.5
119.3
115.6
121.6
116.0
Products of petroleum and coal
.do
117.8
116.0
' 117.3
107.0
106.1
110.1
110.3
110.8
110.3
108.4
107.1
106.3
Petroleum refining
.do
r 107. 2
M08.4
109.7
r
143.8
152.8
120.7
135.3
151.6
130.7
149.0
126.3
139.9
Rubber products
do
153. 8
155.
153.8
153.9
141.9
150. 7
113.8
121.2
125. 5
130.5
136.7
147.4
150.0
Rubber tires and inner tubes
do
153. 3
153.0
153.9
160. 9
156.9
164.4
167.1
167.9
150.9
155.1
158.9
169.2
153.4
Manufacturing, adjusted (Fed. Res.)f
do
168. 4
168.6
' 168. 2
209.6
222.5
188.9
201.6
205.6
215.4
219.3
227.4
193.9
198.5
Durable goods
do
225. 7
' 225.1
' 226. 0
122. 5
124.3
124.9
123.4
126.0
121.0
121.4
120.9
121.6
122.0
Nondurable goods
do
123.2
124.1
122.7
Manufacturing, unadjusted, by States and
cities:
State:
244.4
253. 0
244.7
245.8
197.5
237.9
254.3
217.5
261.9
266. 4
274.2
California*
_
1940=100_.
270.1
269. 6
177.8
172.1
180.8
154.3
170.6
169.3
179.2
183.7
185.9
198.1
158.0
Delaware...
1923-25=100..
r 193.6
189.6
145.4
142.8
146.3
148.9
149. 5
153. 5
136.0
137.5
141.5
141.2
142.9
Illinois
1935-39=100..
150. 1
151.2
178.4
177.2
180.3
165.3
186.2
189.7
192.2
171.6
175.9
176.5
Maryland....
_
1929-31 = 100.. 189.9
192.4
' 190.0
140.6
143.1
144.8
145.0
145.6
146.5
134.2
134.6
135.8
136.6
138.9
Massachusetts!
1935-39=100..
145.4
146.1
163. 2
161.7
164.7
153.1
158.4
161.9
108. 2
165.9
153.3
New Jersey§-___ .
. . 1923-25=100..
153.6
158.4
139.4
142.3
146.4
149.7
152.1
155.8
159.4
156.0
~160~7
159.2
New York...
1935-39=100..
160.4
159.3
155.4
163.1
146.2
163.5
165.9
148.4
157.5
151. 5
' 168.0
Ohio
do
1G8. 3
116.0
118.4
113.6
114.1
114.7
114.7
115.5
116.8
117.0
118.6
118.3
Pennsylvania.
1923-25=100..
118. 1
'117.6
143.5
138.8
141.1
145.1
145.1
146.
3
133.2
135.5
136.9
Wisconsin
1925-27 = 100..
147.0
146.9
147.0
148.7
City or industrial area:
180.1
174.8
174.2
170.4
173.4
172.3
184.9
165.5
174.5
181.4
Baltimore...
._.1929-31 = 100..
183.3
185.2
' 182.5
142.9
149.0
152.7
136.1
146.5
149.7
154.0
142.3
145.8
Chicago
1935-39=100..
138.7
152. 5
151. 9
152. 8
' 187.8
162.7
168.7
174.5
178.7
178.1
165. 0
167.0
171.6
Cleveland
.
do
183. 8
190.1
150.3
165.0
149.5
160.8
Detroit
1923-25=100..
127.1
133.5
137.9
143.1
146.9
164.1
171. 5
169.9
162.8
283.3
233.9
251.7
266.7
208.9
218.4
271.3
229.8
243.3
278.2
Los Angeles*
1940=100..
288.8
286. 8
287.1
170.1
163.6
147.8
155.4
157.6
160.0
164.3
165.5
168.4
152.2
172.7
Milwaukee!
1925-27= 100..
170.3
171.1
139.9
116.4
132.0
134.2
134.7
134.0
119.0
134.1
136.7
129.3
137.4
New Yorkt
1935-39 = 100..
137. 7
139.8
r
143.2
136.8
r 127. 9
131.4
132.5
137.4
1S9.6
142.0
128.7
134.5
144.4
Philadelphia
1923-25=100..
143.9
144.0
128.4
122.7
124.0
125.4
127. 7
131. 3
119.8
119.9
120.4
120.4
122.5
Pittsburgh
.
do
129.3
'129.7
321.5
292.8
291.8
299.3
303.8
317.9
274.6
292.2
330.1
212.7
San Francisco*
1940=100..
247.2
321. 5
320. 6
147.8
143.1
147.2
135.4
139.0
138.9
138.6
141.4
147.2
146.9
154.2
St. Louis
1937=100..
151.9
T
184.9
172.0
174.8
181.0
155.0
197.5
162.6
177.8
Wilmington
1923-25=100..
' 139. 7
138.1
150.2
194. 3
"191.0
Nonmanufacturing, unadjusted (U. S. Department of Labor):
Mimngtt
90.9
89.4
83.4
90.4
92.5
91.8
86.4
92.8
91.8
> 87. 3
93.0
89.5
88.8
Anthracite
1939=100..
109.1
102.7
118.0
118.4
116.6
115.3
113.7
112.7
111.8
106.2
' 103. 4
117.5
110.4
Bituminous coal
do
115.8
114.8
113.4
111.5
116.3
114.4
124.6
123. 5
121.4
118.5
116.5
112.6
' 110.9
Metalliferous
do
r
98.2
96.3
96.7
117.2
116.5
116.3
114.5
112.9
109.5
105.9
98.6
98.2
98 2
Quarrying and nonmetallic
do
81.6
85.0
83.0
81.2
80.3
'82.3
'"82.1
87.4
84.4
86.8
86.2
83.6
'81.6
Crude petroleum and natural gas!
do
Public utilities:!
90.4
85.4
87.4
94.6
89.0
85.7
92.9
91.3
86.6
98.5
97.6
96.5
88.1
Electric light and power
do
r
118.7
115.5
110.0
113.2
111.6
114.8
107.2
108.4
108.7
109.7
110.0
117.1
117.5
Street railways and busses
do
124.1
122.9
122.0
122.2
122.1
123.4
123.8
123. 6
123.2
122.4
122.3
122. 8
123.2
Telephone and telegraph
do
Services:!
r
126.2
114.8
116.1
125.1
128.1
122.1
111.8
122.8
123.9
118.8
113.2
129.2
125.9
Dyeing and cleaning
do
117.4
119.4
118.5
119.8
122.5
121.5
121.0
119.2
118.3
119.2
118.4
118.4
124.3
Power laundries
do
r
106.7
' 104.9
102.1
103.3
104. 4
105. 6
' 105. 1
101.8
103.8
102.6
101.5
103.9
103.7
Year-round hotels
do
Trade:
98.3
98.6
117.0
' 98. 5
100.8
99.0
102.3
98.5
101.1
106.6
97.3
99.5
104.3
Retail, total!
...do
105.4
' 106.1
112.1
110.0
109.7
112.0
111.2
107.0
106.4
' 105. 3
106.3
112.0
111.4
Food*
do
111.9
116.4
111.0
'112.7
166.3
108.8
112.3
109.0
104.2
104.5
112.6
121.8
132.5
General merchandising!
do
97.3
95.1
' 95. 1
96.5
101.4
100.2
99.6
97.7
101.1
100.9
97.6
100.6
100.1
Wholesale!
do
117.0
143.3
124.9
'131.8
90.4
98.4
100.8
110.2
85.7
84.5
86.9
90.8
98.3
Water transportation*
do
Miscellaneous employment data:
86.3
89.5
84.9
96.5
137.5
124.8
122.5
116.5
112.8
108.1
84.8
Construction, Ohio
1935-39=100..
Federal and State highways:
236,102 240, 633 238, 722 219. 047 211,751 186,942 161,010 147, 915 144,706 146. 550 154,164 163, 446
TotaU
.......number..
49,175
42,841
33,328 35, 623
89,999
90,022
80,836
78,031
58,947 40, 588
33,655
94,191
Construction (Federal and State)..do
87,429
90,363
112,000 114, 361 117,972 109,076 105, 701 100,898
86,527 87, 052
94,108
88,831
Maintenance (State)
do
Federal civilian employees:
2,979
' 3, 006
3, 029
2,864
2,945
2,328
2,451
2,207
2,549
2,687
2,750 i 2,891
United States
thousands..
'283
280
284
285
268
274
275
281
284
284
285
District of Columbia.
.do....
287
Railway employees (class I steam railways):
1.
374
1,352
1.378
1,382
1,340
1,349
1,346
1,319
1,343
1,349
1,348
1,351
1,343
Total
thousands..
129.9 ' 132.0
132. 2
135.4
128.7
129.0
129.6
129.6
129. 3
126.7
129.6
129.5
129.0
Indexes: Unadjusted!
1935-39=100..
133.2 ' 134.1
132.7
133.5
132.0
125.0
126.3
126.9
126.5
125.3
127.9
131.6
134.4
Adjusted!
do
r
Revised, i Includes about 80,000 excess temporary Post Office substitutes employed only at Christmas; such employees have been included in data for earlier years.
JJTotal includes State engineering,
g g , supervisory,
p y , and administrative
dministrative employees not shown separately.
§Index is being revised.
t R i d series.
tRevised
i
Th
The D
Department
t
t off L
Labor's
b ' iindexes
d
off wage-earner employment
l
t iin manufacturing
f t i
iindustries
d t i
h
have b
been completely
ltl revised;
id see note
t marked " ! " on p.
S 9 . Revised seasonally adjusted employment indexes are as yet available only for all manufacturing, durable goods, and nondurable goods; the indexes for all vmanufacturing
and for nondurable goods are preliminary. Earlier data for the employment index for New York City not shown in the July 1942 and subsequent issues of tt*eie Survey
y and
index shown on a revised basis beginning in the May 1943 Survey,
Survey will be published later.
later The Department of Labor's indexes of employment in
for the Massachusetts index,
nonmanufacturing industries have been revised to a 1939 base, and, in some instances, adjusted to 1939 Census data; revised data beginning 1939 are shown on p. 31 of the
June 1943 Survey. The index of railway employees has been shifted to a 1935-39 base and the method of seasonal adjustment revised; earlier data will be published later.
*New series. See note marked "*" on p. S-12.
S-ll
SURVEY OF CURRENT BUSINESS
August 1943
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
1943
1942
June
September
June
July
August
1943
October
Novem- December
ber
January
February
|
March 1 April
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
LABOR CONDITIONS
Average weekly hours per worker in factories:
Natl. Ind. Con. Bd. (25 industries).. .hours..
U. S. Dept. of Labor, all manufacturing t
hours. .
Durable goods*.
_
do
Iron and steel and their products...do ._
Blast furnaces, steel works, and rolling
mills
hours..
Electrical machinery
do
Machinery, except electrical
do
Machinery and machine-shop products
hours
Machine tools
do
Automobiles.
do
Transportation equipment, except automobiles _
.
hours
Aircraft and parts (excluding engines)
hours
Shipbuilding and boat building..do
Nonferrous metals and products do
Lumber and timber basic products do
Furniture and finished lumber products
hours
Stone, clav, and glass products
do
Nondurable goods*.
_. do
Textile-m ill products and otherfibermanufactures
..
hours
Apparel and other finished textile products
. . .
.
. hours
Leather and leather products
do
Food and kindred products .
do
Tobacco manufactures. ._
do
Paper and allied products
do
Printing and publishing and allied industries _
hours
Chemicals and allied products
do
Products of petroleum and coal, .do
Rubber products _ _
do
Average weekly hours per worker in nonmanufacturing industries (U. S. Dept. of Labor):*
Building construction
hours
Mining:
Anthracite.do
Bituminous coal...
do
Metalliferous . .
do
Quarrying and nonmetallie... _do
Crude petroleum and natural gas
do
Public utilities:
Electric light and power
do
Street railways and busses
do
Telephone and telegraph
_. do
Services:
Dveing and cleaning
_„ do
Power laundries. . .
do
Trade:
Retail, total
do
Wholesale.
do
Industrial disputes (strikes and lockouts):
Beginning in month . . . _._
...number
ID progress during month
do
Workers involved in strikes:
Beginning in month
thousands
In progress during month
do
Man-days idle during month
. do
Employment security operations (Soc. Sec. Bd.):
Placement activities:
Applications:
.Active
file
thousands
New and renewed...
do
Placements, nonagriculturalf
do
Unemployment compensation activities:
Continued claims
thousands
Benefit payments:
Individuals receiving payments?., do
Amount of payments... . thous. of dol.
Labor turn-over in manufacturing establishments :f
Accession r a t e . mo. rate per 100 employees..
Separation rate, total
do
Discharges
do
Lav-offs
do...
Quits
do
Miscellaneous
do
PAY ROLLS
Wage-earner p a y rolls, all manufacturing,
unadjusted (U. S. Dept. of Labor) 11939 = 100
Durable goods
...
do
Iron and steel and their products
do
Blast furnaces, steel works, and rolling
mills
1939=100..
400
42.7
42.6
43.2
43.4
43.6
43.7
44.2
44.3
44.5
44.7
44.9
45.2
42.9
45.2
43.6
42.6
44.8
43.0
43.0
45.3
43.7
42.4
44.6
43.0
43.6
45.8
44.3
44.0
46.1
44.8
44.4
46.1
45.3
44.2
45.9
4.5.0
44.5
46.2
45.8
44.7
46.4
46.1
45.0
' 46.8
'46.1
45.2
47.0
46.5
40.0
46.4
49.7
39.2
46.0
48.8
40.2
46.4
49.4
39.9
46.0
48.0
40.9
46.7
49.5
42.0
47.0
49.5
41.7
47.0
49.6
41.9
47.0
49.6
42.8
46.9
49.6
43.2
47.1
'49.7
'43.5
'47.0
'49.8
44.1
47.3
49.8
. 49.2
53.8
44.4
48.3
52.7
43.8
48.8
52.8
45.1
47.8
51.2
44.1
49.0
52.5
45.2
49.0
52.8
45.5
49.4
53.0
45.5
49.6
52.5
45.7
49.3
51.8
46.0
'49.5
52.0
45.7
'49.7
52.0
45.9
49.5
51.8
46.3
47.7
47.4
47.3
46.7
47.1
47.7
47.5
46.9
46.7
'46.8
47.6
47.5
47.2
48.4
44.6
41.1
46.6
48.2
44.5
41.0
46.7
47.6
44.8
41.8
46.3
47.0
44.1
41.0
46.3
47.6
45.4
42.5
46.6
48.0
46.0
41.7
46.9
47.7
46.1
41.3
46.5
47.1
46.0
39.8
46.2
46.7
45.9
41.9
'46.2
46.9
'46.6
42.4
'47.3
'47.7
47.0
43.1
46.8
47.8
47.2
43.8
41.5
40.1
39.9
41.4
39.2
39.8
41.4
40.1
40.2
41.0
39.3
39.7
42.8
41.3
40.8
42.8
41.4
41.3
43.7
41.8
42.1
42.8
41.7
41.8
43.6
41.8
42.0
43.9
'42.1
42.3
44.4
'42.7
42.4
44.5
42.9
42.7
40.2
39.9
40.3
39.4
40.4
40.8
41.5
41.3
41.5
41.6
41.7
41.8
35.4
38.1
41.5
38.5
40.6
35.1
38.1
41.9
38.6
40.2
36.2
38.4
41.3
39.5
41.2
34.9
36.7
41.8
38.6
40.8
37.1
38.9
41.6
40.4
43.4
37.0
39.0
42.4
40.6
44.0
37.4
40.3
43.9
41.2
44.9
37.4
40.3
43.2
39.6
44.2
38.2
40.2
42.9
38.5
44.5
'38.8
40.4
43.4
'39.5
44.9
' 38. 7
' 40. 2
'43.3
' 40. 5
45.3
38.1
40.2
44.7
40.7
45.6
38.0
42.8
39.0
41.5
38.0
42.8
39.2
41.9
38.0
43.1
39.5
42.3
38.2
42.7
39.5
41.6
38.5
43.6
40.5
42.7
39.5
43.9
41.8
43.4
40.2
44.7
41.8
44.5
39.8
44.5
41.1
44.4
39.5
44.6
42.4
44.6
39.8
45. 0
42.6
45.1
39.6
'• 45. 4
'43.5 |
45.1 !
39.7
45.5
44.5
45.4
37.2
37.5
37.3
37.8
37.9
38.0
37.8
37.1
36.3
37.4
38.1
38.1
35.4
33.5
43.8
44.6
39.1
32.3
30.5
42.1
44.7
39.4
34.0
32.1
43.4
44.7
38.8
35.8
33.5
43.2
44.7
39.9
35.1
34.2
43.8
45.7
39.8
35.7
34.4
44.2
45.6
38.7
35.9
35.7
44.0
43.8
40. 5
31.0
34.7
43.3
44.3
39.9
41.5
37.0
43.6
44.4
40. 6
41.3
38.6
43.7
' 43.8
'40.8
41.2
'36.9 i
43.9
46. 0
'41.2
36.1
35.6
44.3
46.3
41.0
40.5
48.0
40.3
40.4
47.8
40.5
40.0
48.5
40.7
40.1
47.4
41.4
40.5
47.9
40.6
39.8
49.0
40.7
40.8
49.9
40.7
40.5
49.3
41.2
40.5
49.7
41.2
40.8
' 49. 4
41.1
40.8
48.9
'41.3
40.8
49.0
42.1
45.4
43.7
43.2
43.3
42.8
43.2
43.1
43.1
43.5
43.3
43.1
43.3
43.3
44.0
43.6
44.1
43.1
43.7
' 43. 5
43.8
45.7
'44.4
45.0
44.4
41.8
41 4
42.0
41 3
42.1
40.9
41.1
41.2
40.9
41.7
40.8
41.7
41.0
41.8
41.3
41.4
41.1
41.6
41.1
41.7
40.7
' 4.1. 8
40.9
41.7
345
388
435
421
950
955
4,750
110
126
586
330
274
207
144
147
195
210
260
395
395
471
430
349
269
172
169
225
240
300
445
450
100
114
417
92
108
88
101
387
62
67
59
62
244
52
55
128
193
90
100
450
42
48
170
72
75
230
200
205
449
1
1
620
625
675
1,275
1
862
4 280
1,841
644
* 3 254
1, 656
657
1, 403
640
* 2, 400
1,213
650
1,267
682
i 1, 895
1,139
608
I,154
616
1, 678
1,384
659
1,315
648
1, 602
1,280
718
1,154
689
1,198
1,222
708
592
3,159
3,207
2,576
2,026
1,517
1,128
1,130
1,228
1,059
945
695
610
100
5, 950
553
30, 226
575
32, 625
543
28, 252
423
22, 395
310
16,895
222
11, 574
193
11, 558
227
12,183
209
10, 882
182
10, 750
131
' 7, 355
119
' 6, 382
8.25
6.46
8.28
6 73
7.90
7 06
9.15
8.10
8.69
7.91
8.14
7.09
6.92
6.37
8.28
7.11
7.87
7.04
8.32
7.69
7.43
7.54
7.18
6.57
38
43
42
.87
.44
.68
.45
.78
.43
.65
.46
.70
.52
.74
.50
.54
.57
.52
.53
.55
.45
. 64
5. 41
4.81
304. 5
421.0
297.6
' 309. 6
' 430.4
'301.7
313.4
437.0
303. 5
215. 3
217. 4
222.2
1.21
3 85
1 02
1.05
4 02
1 23
4 31
1.46
5 19
1.79
4 65
2.03
4.21
1.80
3.71
1.50
4.45
1.40
4.65
1.35
5.36
1.24
234.5
312.1
241.5
242.7
323. 9
245.7
254.8
342.0
251. 5
261.8
352. 4
255.4
270.9
366.2
264.1
280.4
382.8
270.1
287.9
391.6
278.7
290.9
399.8
283.5
297.5
410. 6
291.2
192.9
197.2
196.6
199.7
200.7
204.1
203.8
208.8
211.8
.96
.76
' Revised. § Weekly average of number receiving benefits, based on an average of the weeks of unemployment compensated during weeks ended within the month.
i Not comparable with data prior to July 1942, owing to change in active file definition (see note 1 on p. S-ll of the December 1942 Survey). The July 1942 figure is also
not comparable with figures for later months, as data for July were not completely revised to the new basis.
tRates beginning January 1943 refer to all employees rather than to wage earners only and are therefore not strictly comparable with earlier data.
Indexes of
fRevised series. For revision in the Department of Labor's series on average weekly hours in all manufacturing industries see note marked " t " on p. S13.
S-13. In
age-earner
geearner pay rolls (or total weekly wages) in manufacturing industries have been completely revised
revised, see note marked " t " on p
p. S-9; indexes for May 1943 are not
ass yet
y available; June data will be published in an issue of the We
plement to the Survey. The series on placements by the U. S. Employment Service (under War
Weekly Supplement
ity Board)
Maanpower Commission since December 1942; formerly under Social Security
Board) has
has been
been revised
revised to
to exclude
exclude agricultural
agricultural placements
placements which
which were
were excluded
excluded from
from the
the June
June
Manpower
943 figure,
figure
g , since such placements
p
m d only
ly in
i cooperation
ti with
ith the
th Department
Dt
of Agriculture Extension Service.
1943
are now made
Departme
* New series. Data beginning January 1942 for average hours in durable goods and n
nondurable goods manufacturing industries are on p. S-10 of the March 1943 Survey;
data beginning 1939 for all series on average hours for
f the
th manufacturing
m a f t i
m f
andd nonmanufacturing
industries shown above will be published in a later issue.
S-12
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the
June
1942 Supplement to the Survey
August 1843
1942
June
July
August
September
1943
October
Novem- Decamber
ber
January
February
March
April
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
PAY BOLLS—Continued
Wage-earner pay rolls, all manufacturing,
unadjusted (IT. S. Dept. of Labor)f—Con.
Durable goods—Continued.
368. 6
343.9
415. 5
317.2
427.4
Electrical machinery
1939=100..
325.7
382.7
402.8
441.6
453. 7
458.9
454. 7
352.3
337.9
339.1
352.6
392.9
400.2
Machinery, except electrical
do
371.5
410.0
381. 5
417.7
427.2
422. 3
Machinery and machine-shop products
352.1
354.8
394. 6
335.2
381.9
413.4
337.1
371.5
402.1
421.5
1939=100..
434.2
429.3
225.2
218.0
235.1
261.4
255.1
Automobiles
_
do
193.4
202.5
277.9
283.9
282.2
297.1
286. 7
Transportation equipment, except auto1, 585. 5 1,753.2 1,920.8 2, 053.3 2,116. 3 2, 275. 9 2,348. 0 2,406. 0 2, 486. 5 % 583. 3 2, 692. 9 2. 736. 7
mobiles
1939=100..
312.1
308. 6
Nonferrous metals and products
do
268. 5
273.3
292.2
303.2
305.8
253.0
260.0
282.7
322. 0
318. 5
192.2
179.4
199.1
173.7
198.2
181. 9
166.9
190.2
188.7
Lumber and timber basic products... do
189.4
196.1
186.2
143.5
138.7
164.1
158.4
130.9
158.9
144.4
160.4
Sawmills
do
157.4
163.0
152.8
151. 4
Furniture and finished lumber products
170.6
159.8
158.1
165.9
171.8
168.2
165. 0
'174.9
1939=100..
161.3
157.1
178.7
177. 8
165.6
154.3
154.1
158.2
163.9
159.6
169.5
153.1
164.5
171.5
Furniture
_
do.__.
149. 8
171.5
168.4
179.2
181.2
179.2
169.6
181.9
167.6
178.9
178.5
Stone, clay, and glass products
do
163.2
187.7
185. 3
186.9
169.5
180.3
186.4
' 190.7
173.3
192. 5
Nondurable goods
do
158.7
163.3
184.5
177.7
'191.5
Textile-mill products and other fiber manu182.4
166.8
173.0
175.4
166.3
factures.
1939=100..
180.8
179.6
181.1
161.1
180.7
162.0
181.2
Cotton manufactures, except small wares
208.2
217.4
217.7
202.2
212.8
215.8
1939=100..
195.9
217.2
193.0
210.6
216.0
217.1
133.5
134.2
128.2
126.9
126.5
131.3
133.7
134.4
132.2
Silk and rayon goods
do
130.8
126.2
133. 9
Woolen and worsted manufactures (ex198.1
207.9
196.3
208.3
201.0
207.5
207.2
205. 0
cept dyeing andfinishing)___1939=100..
186.9
198.2
200.6
205.4
Apparel and other finished textile products
177.5
147.4
151.4
154.0
155.9
164.3
1939=100..
132.9
135.2
152. 7
107.5
157.0
174.8
168.5
162.8
Men's clothing
do
143. 6
138.6
146.4
142.5
148.4
144.7
145.7
149.6
159.2
' 169. 7
148.0
115.8
131. 0
92.3
101.2
119.6
124.0
125.0
137.2
127.1
Women's clothing
do
123.1
143.8
158.1
153.0
148.3
148.7
146.3
157. 6
145.6
153.4
149.2
159.5
158.9
Leather and leather products
....do
155.9
143.7
137.3
136.8
136.9
143.1
134.9
134.9
134.5
137.4
144.5
Boots and shoes
do
'145.2
141.0
151.3
158.5
139.7
153.7
173.2
165.4
150.7
161.6
155. 6
164.4
160.5
Food and kindred products
do
150. 3
145.8
147.8
129.9
135.2
141. 5
138.5
140.7
149.3
144.3
Baking
do
143.5
144.0
143. 4
98.9
117.0
123.5
213.7
112.8
266.2
373.4
225.9
162.8
138.2
115. 4
114.1
Canning and preserving
do
180.4
190.5
171.8
175.4
185.1
173.4
213.6
202.9
173.0
170.4
Slaughtering and meat packing
do
176.8
181.3
143.3
144.3
132.0
133.8
138. 5
144.3
144.1
159.6
147.8
146.5
Tobacco manufactures
do
157.4
153.7
173.1
178.0
149.4
144.1
171.3
167.6
147.1
147.0
158. 9
175.5
Paper and allied products
do
163.5
168.5
165.6
170.3
152.8
147.1
164.8
148.5
167.2
Paper and pulp
..do
149.7
161.1
158.9
163.6
162.3
Printing, publishing, and allied industries
' 122. 3
123.1
121.6
110.2
111.2
121.8
1939=100..
110.2
122.4
126.5
116.3
110.0
'121.8
409.7
424.2
400.9
Chemicals and allied products
do
306.1
326.4
338.5
351.4 . 365.3
383.4
391.2
422 0
317.2
255.4
262.3
250.0
222.1
247.2
Chemicals
do
221.0
221.6
258.6
230.6
235.8
240.8
224.6
' 166. 8
182.3
164.9
173.9
150.0
156.4
160.5
162.8
Products of petroleum and coal
do
160.8
165.4
165.1
154.0
170.5
151. 3
' 154.2
134.7
139.9
144.3
149.3
Petroleum refining.
_
_.do
145.7
' 162. 8
137.6
150.9
151.5
250.9
238.3
246.2
164.5
184.4
189.9
234.6
248.1
176. 3
201.9
213.3
228.6
Rubber products..
do
243.9
228.9
239.7
240. 2
151.1
166.8
172.9
178.6
226.6
Rubber tires and inner tubes.
do
205.3
219.7
190.0
Manufacturing, unadjusted, by States and cities:
State:
503.2
466.1
454.5
397.5
' 495.0
436.5
310.1
376.5
430.3
486. 2
421.0
339.5
California*
1940=100-.
403.7
354.4
316.0
299.2
' 346.1
224.4
330. 9
256.9
270.8
294.7
288.2
292.8
239.9
Delaware
1923-25=100 .
277.8
266.3
249.5
244.8
259.8
210.3
233.1
200.0
210.3
233.6
255.7
220.4
201.2
Illinois
1935-39=100.
223.7
359.0
362.0
' 376.4
285.3
391.4
310.1
322.3
330.5
339.4
335.0
357.1
307.0
Maryland
1929-31 = 100.. 376.4
282.1
271.8
265.9
229.4
235.9
257.4
267.3
278.0
216.6
244.5
274.7
223.9
248.0
Massachusetts!
.1935-39=100
285. 8
230.2
243.0
255.4
261.5
269.3
276.3
281. 0
234. 3
New Jersey§
1923-25=100 .
274.6
285.8
284.9
264.5
212.0
229.8
239.9
261.1
248.4
252.8
288. 6
220.3
New York
1935-39=100.. "287." 7
308.1
' 317.1
239.6
255.3
261.2
285.1
294.9
300.0
320.1
251.5
275.0
Ohio
do..-.
190.2
181.3
176.6
184.7
188.1
' 154.7
160.3
161.8
172.4
175.0
168.2
155.2
' 186.5
Pennsylvania
1923-25=100-.
265.2
252.6
256.8
206.4
259.8
216.0
212.3
236. 5
244.1
244.6
206.0
228.7
260.1
Wisconsin
1925-27=100..
City or industrial area:
370.8
288.1
333.1
350.9
355.6
354.5
' 370. 2
310.2
320.6
329.4
336. 2
384.1
305.1
Baltimore
.1929-31=100..
258.2
263.9
196.4
244.7
249.1
206.7
209.0
218.4
231.9
232.8
254.6
200.1
223.0
Chicago
1935-39=100.
286.2
300.9
345. 2
355.8
373.0
' 389.2
306.0
325.8
339.0
394.4
295.1
Cleveland
do
522.8
367.4
378.4
520.6
327.2
426.3
443.2
454.9
474.4
488
402.5
512.0
344.0
Los Angeles*
.1940=100.
300.6
296.4
222.7
292.3
297
299.9
229.2
244.1
247.0
261.1
271.3
277.2
278.9
Milwaukee
..1925-27=100
228.7
156.5
220.7
234.9
192.3
198.4
203.6
208.0
235.5
226.7
165.2
200.7
184.3
New Yorkf
1935-39=100.
256.2
243.7
248.0
251.9
' 253.8
198.2
205.2
212.1
217.9
226.9
230.8
236.6
•"191.6
Philadelphia
_
.1923-25=100.
215.5
197.6
205.5
207.1
161.9
168.4
171.5
181.2
186.3
189.0
'
2
11.0
177.0
165.4
Pittsburgh
do
596.6
549.9
560.4
574.7
379.7
521.5
529.7
434.7
481.9
516.3
' 582. 5
481.9
329.5
San Francisco*
1940=100.
T
360.4
301.4
320.1
'336.8
206.6
352.
6
244.6
255.1
271.3
288.9
288.0
295.
7
'
200.4
Wilmington
..1923-25=100..
Nonmanufacturing, unadjusted (U. S. Dept. of
Labor):
Mining: t
126.4
128.4
152.7
149.5
128.1
123.4
125. 6
101.5
154.9
117.2
142.9
123.0
Anthracite
.
1939=100..
202.1
176.4
189.9
170.1
175.3
177.7
183.7
178.6
196.2
161.6
201.3
179.0
Bituminous coal
_
do..
165.5
163.8
170.2
168.6
163.0
167.5
167.5
163.8
166.7
166.3
164.5
170.4
Metalliferous
do
150.2
166.3
162.8
175.2
175.4
179.1
172. 5
160.6
151.0
150. 3
1.71.3
169.2
Quarrying and nonmotallic.
do
111.5
'109. 6
102.3
106.4
105.1
103.9
106.9
102.3
103.2
104.3
106.8
' 107. 0
Crude petroleum and natural gas
do. _
Public utilities:!
106.4
112.
3
109.4
106.4
113.1
112.0
105.8
112.9
110.7
108.9
107.6
106.7
Electric light and power..__
_do—
153.8
134.9
130.9
128.6
134.7
137.1
140.7
145.7
147.3
150.7
152.0
150.6
Street railways and busses
do
143.2
131.8
131.0
133.2
136.
5
134.9
134.1
137.0
136.7
'
139.
4
134.3
137.5
Telephone and telegraph
do_.
Ser vices: f
-•176.2
178.1
145.1
142.8
160.5
147.1
153.
5
150.3
149.0
147.1
142.9
143.8
Dyeing and cleaning
do_.
141.1
153.8
150.7
138.6
140.5
143.2
142.7
144.6
147.6
145.2
141.7
145. 4
Power laundries
__do__
134.8
121.3
'
132.1
119.0
119.0
128.0
129.8
'130.
4
118.9
127.1
131.
S
130.6
Year-round hotels
...do..
Trade:
114.4
115.3
115.7
117.7
114. 5
118.4
121.6
119.0
131. 5
114.9
112. 5
111.9
Retail, totalf
do..
126. S
' 125. 3
128.1
126.7
126.6
128.1
126.4
128.5
127.7
125.7
126.4
127.7
Food*
do
128.0
128.7
121.4
125.2
135.
4
145.
6
133.0
116.8
129,1
126.2
117.1
181.7
General merchandising!
do
124.0
124.3
118.9
125.1
124.3
119.3
120. 6
123.6
125.8
122.3
119.8
124.6
Wholesale!
___do__
271.9
307.7
180.0
231.4
257.
8
288.0
171.3
189.
5
225.
0
172.0
203.3
225.0
Water transportation*..
_ _ do..
I
r
Revised.
.Index is being revised.
__. rp.
_ S-9.
_ ..
!Revised series. Indexes of wage.earner payrolls (or total weekly wages) in manufacturing industries have been completely revised; see note marked , ' on
Earlier data for the revised pay-roll index for New York City not shown in" the July 1942 Survey and subsequent issues, and for the Massachusetts index, shown on a revised
basis beginning in the May 1943 Survey, will be published later. Indexes of pay rolls in nonmanufacturing industries have been revised to a 1939 base and, in some instances,
adjusted to 1939 Census data; revised data beginning 1939 are shown on p. 31 of the June 1943 Survey.
*New series. Data beginning January 1935 for the indexes of employment and pay rolls for California and the Los Angeles and San Francisco Bay industrial areas will
be shown in a later issue; data beginning 1939 for the new series on employment and pay rolls for retail food establish ments and beginning 1940 for water transportation are
shown on p. 31 of the June 1943 Survey.
S-13
SURVEY OF CURRENT BUSINESS
August 1943
Monthly statistics through December 1941, together with explanatory notes and references
to I he sources of the data, may be found in the
1942 Supplement to the Survey
1943
1943
June
Sep.
tember
June
July
August
1943
October
Novem- December
ber
January
February
March
April
May
EMPLOYMENT CONDITIONS AND WAGES--Continued
WAGES
Factory average weekly earnings:
45.90
45. 02
43.85
44.30 i
42. 98
43.56
42.50
39.52
41.79
Natl. Ind. Con. Bd. (25 industries)..dollars..
40.87
42.10
39.80
42.48
43. 08
41.75 I
41.12
40. 27
40. 62
39.78
36. 25
37.80
38.89
37.38
U.S. Dept. of Labor, all manufacturingf .do
36.43
48. 63
49. 35
47.79 |
47.12
45. 31
46.27
46.28
46.68 |
42.26
44.45
43.84
42. 51
Durable goods
do
46.
98
46.47
'
47. 76
43.45
45. 75
40.42
42.14
44. 20
44. 67
44.91 |
41.56
40.16
Iron and steel and their products._do
Blast furnaces, steel works, and rolling
49. 12
47.24
47.95
I
46.
57
46.16 I
45. 57
40.34
41.99
43.21
43. 93
45.15
41.67
mills
dollars.
45.60
45.12
44.46
' 44. 93
44.70 j
44.24
44.32
43. 73
43. 65
41.81
42.32
Electrical machinery
__do
41. 72
52.14
51.09
50.69
50.15
49.64
'51.59
49.34
47.71
52.54
Machinery, except electrical
do
47. 71
48.26
47. 04
Machinery and machine-shop products
1
51. 34
49.84
50.37
50.09
51. 01
47.04
46. 95
48. 65
48. 30
46. 44
46. 09
dollars.
49.28
54.76
54.10
54.69
53.16
53. 25
52.12
52.32
53. 73
50.72
53.18
52.47
51. 41
Machine tools
do
57.00
55. 62
55.77
52.72
54. 65
54. 51
51.55
50.98
52.26
52.97
Automobiles
.do
55.71
55. 85
Transportation equipment, except auto- I
' 54. 48
55.88 j 56. 29
53.65
53.80
54.25
54.22 |
53.34
55.49
53.17
mobiles
dollars. _ I
50.80 ! 51. 86
Aircraft and parts (excluding engines)
49. 67
46.94
47.12
' 47.29
'49.69
47.08
46.24
45.75
46.55 |
46. 53
46. 01
dollars..
46. 67
57.16
58.46
57.24
' 59. 50 j 60. 04
56. 82
58.60 i
57.54
60.67
58.09
51.11
Shipbuilding and boatbuilding. _ do
52. 73
45.26
46.13
47. 77
45. 31
46. 91
41.80
42.16 |
40.94
40.32
43.43
44.15
44.99
Nonferrous metals and products
do
28.79
29.68
32. 24
30. 82
27.10
28. 30
27.96 !
29.52
28.04
26.98
23.58
27.00
Lumber and timber basic products.do
27.43
28.31
31.51
' 29. 75
25. 38
27.33
27.22
26.14
26. 26
27.44
26.46
28. 69
Sawmills§
do
Furniture and finished lumber products
32.66
32.06
30. 56
31.39
29.34
29.79
29.33
30.11
26.95
27.37
27.68
dollars. _
27.10
33.14
31.66
32.22
30.74
32.86
30. 35
31.40
27.84
28.95
28.90
30.56
27.91
Furniture
^
do
36. 21
34.36
34.15
'34.86
r 35. 57
30. 54
31.52
31.40
33.52
33. 86
33.53
30. 96
Stone, clay, and glass products
do
33.99
32.47
32.10
33.08
33. 50
28.94
29.36
29.53
28. 65
30.66
31. 25
32.08
Nondurable goods
do
Textile-mill products and other fiber
27.76
26.93
27.14
' 2 7 36
' 27. 52
26.73
24.82
24.98
25.84
26.17
23.84
24.02
manufactures
.dollars. _
Cotton manufactures, except small
24. 78
24.22
24.19
24. 54
23.62
' 24. 36
23.12
21.32
22.37
23. 39
23.95
wares
dollars..
21. 63
27.12
26.75
26.30
26.07
25.46
25.88
23.24
23.62
24.69
22.98
25.31
26.26
Silk and rayon goods
do....
Woolen and worsted manufactures (ex32.84
32.82
33.39
33. 56
32.62
33.15
31.53
29.43
31.59
31.43
30.40
31.13
cept dyeing and finishing)
dollars..
Apparel and other finished textile prod25.71
26. 37
24.27
24.50
23.97
r 27. 22
22.95
2^.51
' 27.16
21.76
24.17
21. 56
ucts
_•
dollars..
27.79
29.09
• 26. 40
29.58
24.70
24.18
29.03
23.92
25.56
25.66
25.70
24.06
Men's clothing
_____do
'31.10
31.40
' 28. 75
27.48
33.31
26.38
25. 67
27.60
'33.65
' 24. 37
28.17
' 22. 35
Women's clothingJ
do
28.94
30.03
29.06
' 29. 69
26.23
25.76
' 29.49
25.91
27.58
27.79
28.98
25. 83
Leather and leather products
do
27.45
28.24
27.98
24.89
25.93
25.97
28.07
' 28.15
24.71
26.03
24.48
27.37
Boots and shoes
do
33.08
35.63
33.22
29.65
29.89
33.72
' 34.12
30.17
30.97
31.84
33.41
30.17
Food and kindred products...
do
33.55
35.40
33.35
31.69
31.72
32.32
33.46
34.20
34.42
31.43
31.34
31.90
Baking
do
26.79
27.45
26.14
23.14
24.88
26.42
27.23
24.13
25.34
25.53
25.94
22.19
Canning and preserving.
do
34.91
41.09
36.66
32.40
32.62
36.04
32.61
36. 40
32.86
34.02
34.52
38.46
Slaughtering and meat packing._do
23.22
25.60
24.27
23.42
23.04
22.43
24.32
24.82
25.26
22.37
' 24. 21
' 25.11
Tobacco manufactures
do
34. 75
36.21
34.21
31.19
31.29
30.19
30.13
35.11
33.46
34.01
34.62
' 35. 79
Paper and allied products
do
37.93
39.58
37.19
34.18
34.10
33.09
37.18
33.14
36.59
37.83
38.41
38.87
Paper and pulp.
do
Printing, publishing, and allied indus38.56
38.35
39.40
39.20
39.78
36.21
36.67
37.51
38.73
36.06
tries
dollars..
36. 06
39.08
39.69
41.36
36.72
37.62
39.43
37.32
37.74
38.10
39.25
Chemicals and allied products
do
40.14 r 40.86
37.76
46.23
44.86
41.21
41. 70
44.18
46.15
48. 35
42.01
43.38
47. 52
Chemicals—
do
47.15
41.73
46.30
40.05
42.98
45.42
49.93
40.73
43.80
45.61
45. 65
Products of petroleum and coal
do
' 46. 48 ' 48. 33
41.63
49.08
42.18
45.19
48.91
48.38
53. 42
43.00
46.56
48.80
'
51.
58
49.36
Petroleum refining
do
43. 58
43.57
38.22
39.31
43.11
45.63
39.05
40.39
41.48
42.99
44.74 ' 45. 01
Rubber products
....do
39.47
50.95
44.42
45.80
50.53
53.15
46.08
48.45
49.93
46.55
52.54
52.68
Rubber tires and inner tubes
do
46.10
Factory average hourly earnings:
.979
.966
.970
.928
.940
.958
'.90S
1.010
.917
Natl. Ind. Con. Bd. (25 industries)
do.-..
.987
.919
.892
.905
.907
.924
.856
.870
.893
.944
.953
U. S. Dept. of Labor, all manufacturingfdo
.845
.934
1.017
.949
.969
1.
039
1.050
.997
.990
1.005
1.004
1.020
Durable goods
do
1.030
.935
.934
.951
.984
1.019
1.027
.979
.986
Iron and steel and their products...do
1.008
.927
Blast furnaces, steel works, and rolling
1.103
1.081
1.094
1.008
1.013
1.077
1, 073
1.086
1.120
1.038
1.110
mills
dollars..
1.099
.951
.912
.942
.943
.948
.901
.936
'.960
.964
.907
.949
Electrical machinery
do
'.954
1.022
1.030
1.047
.960
.997
1.003
1.011
1. 055
Machinery, except electrical
do
1.038
.977
Machinery and machine-shop products
.991
1.003
.963
.986
1.014
.944
.979
.983
.949
1.030
1.037
1.021
dollars..
1.014
.987
.990
1.007
1.013
.998
1.026
.975
1. 051
1.057
,974
1.040
Machine tools
do
1.185
1.222
1.169
1.164
1.172
1.202
1.198
1.211
1.215
1.231
1.217
Automobiles.
do
1.161
Transportation equipment, except auto1.144
1.163
1.142
1.065
1.124
1.132
1.094
1.161
1.185
mobiles
dollars..
Aircraft and parts (excluding engines)
1.002
.993
.997
1.010
.993
.991
.991
1.019
1.063
1.011
•• 1.025 ' 1. 052
dollars. _
1.193
1.264
1.220
1.210
1.208
1.224
1.255
1.088
1.138
1.246
1.247
1.246
Shipbuilding and boatbuilding...do
.933
.985
1.012
.904
.920
.956
.959
.976
.956
'.990
Nonferrous metals and products
do
Lumber and timber basic products
.685
.694
.679
.681
.687
.682
.736
.658
.677
.715
.657
.700
dollars. _
.663
.657
.666
.725
.646
.671
.684
.670
.660
.699
.647
.681
Sawmills§
do
Furniture and finished lumber products
.685
.689
.675
.685
.734
.653
.651
.661
.706
.722
.715
dollars..
.673
.700
. 752
.673
.682
.711
.720
.740
.708
.705
.708
.733
Furniture
do
.779
.819
.799
.812
.810
.810
.844
.772
.786
.822
.833
.828
Stone, clay, and glass products
do
.768
.725
.743
.796
.718
.730
.773
.782
.790
.751
.756
.762
Nondurable goods
do
Textile-mill products and other fiber
.652
.654
.642
.644
.634
.639
.664
.593
.602
.616
-.660
'.657
manufactures
dollars
Cotton manufactures, except small j
.582
.577
.584
.528
.549
.575
.576
.579
.591
.528
.588
.586
wares
dollars.. I
.639
.615
.619
.619
.627
.572
.611
.640
.590
.635
.577
.630
Silk and rayon goods
do
Woolen and worsted manufactures (ex.789
.789
.795
.774
.783
.789
.804
.801
.729
.769
.779
.799
cept dyeing and finishing)._ .dollars__
Apparel and other finished textile prod.649
.634
.652
.648
.645
.655
'.703
.692
.620
.673
.700
.609
ucts
_
dollars..
.697
.702
.705
.714
.701
.707
.759
.754
.682
.683
\ 757
.721
Men's clothing
do
'.758
'.707
'.615
'.724
'.747
'.734
'.733
'.834
.807
'.690
'.837
Women's clothing}:
do
' Revised.
§ Revisions in 1942 monthly averages shown in the April 1943 Survey: Weekly earnings, $25.58; hourly earnings, $0,635.
^Revisions beginning July 1942 resulted in part from a change in the reporting sample and figures are not strictly comparable with earlier data (weekly earnings were
affected only slightly); revised figures for May and July 1942 based on the former sample, comparable with revised June 1942 figures above and data prior to May 1942 pre
viously published, are as follows: Weekly earnings—May, $24.68; July, $24.14; hourly earnings—May, $0,640; July, $0,652.
fRevised series. The Department of Labor's series on hourly earnings and hours per week (p. S-ll) in manufacturing industries have been revised and, except as indicated,
differ from those published prior to the March 1943 Survey owing to the inclusion of additional data for industries not heretofore covered and extensive corrections, on the
basis of Census and Social Security data, in the employment estimates of the Bureau which are used for weighting purposes. The series of average weekly earnings for all
manufacturing, durable goods, nondurable goods, and the industry group averages are now computed by taking the product of the averages of hourly earnings and hours
worked per week. The industry classifications have been revised for all series to agree with definitions of the 1939 Census of Manufactures and the Standard Industrial Classification Manual; there were no changes, however, in the computations for the following industries and hourly and weekly earnings published currently for these series are
Digitized for comparable
FRASER with data in earlier monthly issues and in the 1942 Supplement: Machine tools; aircraft and parts (excluding engines); ship building and boat building; sawmills;
furniture; boots and shoes; baking; slaughtering and meat packing; paper and pulp; chemicals; petroleum refining; rubber tires and inner tubes. Data for years prior to 1942
http://fraser.stlouisfed.org/
for the revised series will be published in a subsequent issue; figures for the early months of 1942 are in the March 1943 Survey.
Federal Reserve Bank of St. Louis
S-14
SUEVEY OF CURKENT BUSINESS
Monthly statistics through December 1941, to
gether with explanatory notes and reference
to the sources of the data, may be found in the
1942 Supplement to the Survey
1943
1942
June
September
June
July
August
August 1943
1943
October
Novem- December
ber
January
February
March
April
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
WAGES—Continued
Factory average hourly earnings—Continued.
U. S. Dept. of Labor, all mfg.f—Continued.
Nondurable goods—Continued.
Leather and leather products
dollars._
Boots and shoes
do
Food and kindred products
do
Baking
do
Canning and preserving
do
Slaughtering and meat packing..do
To bacco manufactures
do
Paper and allied products
.do
Paper and pulp
do
Printing, publishing, and allied industries
dollars..
Chemicals and allied products
do
Chemicals
do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products
do
Rubber tires and inner tubes
do
Factory average weekly earnings, by States:
Delaware....
1923-25 = 100..
Illinois.
1935-39 = 100..
Massachusettsf—1935-39=100..
New JerseyJ
1923-25 = 100..
New York
1935-39=100..
Pennsylvania
1923-25=100..
Wisconsin
1925-27=100..
Nonmanufacturing industries, average hourly
earnings (U. S. Dept. of Labor):*
Building construction
dollars._
Mining:
Anthracite
do
Bituminous coal
.do
Metalliferous..
do
Quarrying and nonmetallic
_.do
Crude petroleum and natural gas
do
Public utilities:
Electric light and power
do
Street railways and busses
do
Telephone and telegraph
.do
Services:
Dyeing and cleaning...
.do
Power laundries
do
Trade:
Retail
do
Wholesaledo....
Miscellaneous wage data:
Construction wage rates (E. N . R.):t
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
172.4
176.8
192.6
180.5
183.1
178.3
.863
1.61
71.84
.71
.91
.57
.91
,85
.83
1.09
.59
.75
.57
0.678
.652
.727
.731
.599
.806
.581
.742
.797
0.680
.654
.720
.738
.601
.801
.581
.751
.809
0.683
.657
.718
.732
.611
.807
.593
.757
.814
0.702
.677
.715
.733
.612
.813
.597
.767
.825
0.708
.683
.744
.740
.664
.821
.602
.771
.828
0.713
.683
.751
.749
.674
.823
.611
.772
.831
0.719
.691
.761
.758
.676
.839
.613
.771
.829
0.721
.694
.769
.764
.681
.830
.613
.774
.828
0.720
.691
.771
.768
.684
.828
.603
.781
.836
0.729
.702
.777
.775
.681
.836
.613
.782
.953
.858
.990
1.027
1.102
.921
1.103
.949
.872
1.004
1.039
1.114
.932
1.107
.949
.876
1.001
1.054
1.130
.933
1.105
.960
.881
1.014
1.088
1.165
.945
1.114
.973
.866
1.019
1.081
1.160
.947
1.115
.976
.867
1.027
1.093
1.174
.955
1.125
.878
1.032
1.092
1.176
.966
1.130
.973
.886
1.040
1.105
1.182
.971
1.139
.971
.890
1.044
1.092
1.162
.977
1.135
140.2
148.9
161.7
180.9
152.1
155.4
154.9
146.3
148.4
166.6
184.0
154.8
155.4
152.1
145.0
150.9
169.1
184.7
157.0
159.8
157.8
150.9
151.3
172.9
190.1
160.3
161.9
153.1
157.4
156.7
176.2
194.5
163.3
166.9
162.0
159.4
159.8
176.7
198.8
164.7
169.7
164.9
153.6
163.3
180.2
202.2
167.6
171.6
168.2
157.6
163.2
184.9
204.2
169.6
172.3
168.6
1.136
1.157
1.174
1.201
1.209
1.230
.982
1.060
.882
.697
.988
.984
1.053
.891
.709
.995
.992
1.061
.909
.727
1.020
1.065
.906
.738
1.037
1.070
.913
.744
1.039
.993
1.073
.926
.750
1.066
1.003
1.085
.931
.757
1.057
.968
.809
.824
.976
.818
.818
.993
.829
.819
1.005
.836
.829
1.004
.840
.833
1.027
.847
.835
.572
.481
.572
.482
.580
.487
.496
.601
.502
.613
.850
.616
.862
.619
.870
.625
.878
.796
1.55
.803
1.56
.823
1.59
.826
56. 85
.825
.56
.71
.42
.61
.68
.64
.92
.46
.57
.43
0.739
.787
.706
.848
'.620
'.790
.842
0.747
.717
.797
.793
.697
.871
.629
.794
.845
.982
.892
1.047
1. 091
1.161
.992
1.159
.990
.900
1.051
r 1. Ill
1.183
'.998
1.162
1.002
.909
1.051
1.122
1.196
1.005
1.167
157.9
168.0
183.6
204.8
173.4
175.1
172.6
164.6
170.1
186.9
168.0
173.5
189.1
' 172. 2
175.0
190.4
177.9
177.6
174.7
179.9
180.1
177.1
"~179."6
' 182.8
176.7
1.240
1.240
' 1. 242
1.235
1.240
1.007
1.085
.941
.759
1.059
1.064
1.113
.947
.755
1.074
1.060
1.119
1.054
1.128
.962
'.776
1.069
1.030
1.119
.984
.781
1.097
1.023
.856
.835
1.026
.852
.840
1.032
.854
.846
1.023
.857
.845
1.034
r.870
'.850
1.051
.870
.855
.608
.510
.601
.513
.615
.519
.617
.517
'.619
.523
'•.641
'.536 |
.649
.545
.627
.879
.631
.893
.614
.645
.903
.650
.911
'.657 |
.923 !
.934
.823
1.59
.826
1.59
.832
1.60
.832
1.60
.832
1.61
.832
1.61
.842
1.61
.858
1.61
.863
1.61
.828
.839
59.25
.832
.850
.845
62.43
.850
.864
.842
67.21
.843
.848
.59
.75
.41
.69
.71
.69
.95
.48
.60
.41
.61
.76
.77
.65
.97
.50
.60
.46
.63
.77
.46
.64
.74
.66
1.08
.50
.66
.44
.48
.72
.82
.70
1.04
.52
.72
.47
.66
. 83
.47
.75
.87
.75
1.06
.54
.77
.46
.67
.88
.46
.82
.88
.80
1.02
.56
.87
.52
.84
.90
.87
1.02
.52
.71
.50
.64
.90
.57
.88
.85
.90
1.04
.54
.74
.52
.68
.88
.58
.95
.92
.85
1.05
.57
.79
.54
136
120
110
105
104
83
79
64
49
14
65
50
14
65
50
13
65
50
13
66
51
13
67
53
11
67
53
10
r
.63
.89
.47
.84
.95
.81
1.03
.52
.66
.49
.61
.91
.49
.82
1.03
.52
.75
.49
r
PUBLIC ASSISTANCE
Total public assistance and earnings of persons
employed under Federal work programs §
mil. of dol..
Old-age assistance, and aid to dependent
children and the blind, totaL.mil. of doL.
Old-age assistance
do.
General relief
do.
FINANCE
BANKING
Acceptances and com'l paper outstanding:
163
119
116
118
130
139
123
127
136
Bankers' acceptances, total
mil. of dol
156
120
128
140
90
101
94
93
102
105
122
119
108
97
95
99
Held bv accepting banks, total
do
102
61
62
64
65
64
63
60
60
61
77
71
Own bills.
do . . .
62
78
29
34
42
44
33
31
39
38
40
37
35
38
Bills bought
do
40
25
26
25
29
31
31
29
38
41
38
26
24
25
Held by others*
do
282
179
315
261
230
160
305
271
209
201
Commercial paper outstanding
do
143
297
220
' Revised. * Farm wages as of June 1 (data now collected for selected months between quarterly reports); figure for July 1, $76.00.
•None held by Federal Reserve banks.
t Data are being revised.
1 Rates as of July 1: Construction—common labor, $0,863; skilled labor, $1.62.
§Includes earnings of persons employed under Federal emergency work programs shown separately in the April 1943 and earlier issues; for the most part, these programs
have been liquidated or are in liquidation. The series on earnings on regular Federal construction projects formerly shown along with the public assistance data (though
not included in the total) has been dropped from the Survey; this series was originally included because of the interrelation of employment on emergency project? and on regular Federal work and construction projects, which were greatly expanded in depression years, and to provide a complete record of Federal work programs. In recent years,
however, the regular Federal projects have largely represented war construction; the data were in large part duplicated in employment series shown elsewhere.
t Revised series. For an explanation of the revisions in the U. S. Department of Labor's series on hourly earnings in manufacturing industries, see note marked " t " on
p. S-13. The index of weekly earnings in Massachusetts has been revised to a new base; earlier data will be shown later.
*New series. Data beginning 1939 for the Department of Labor's series of hourly earnings in nonmanufacturing industries will be published later. Data for building construction, the mining industries, dyeing and cleaning plants, and power laundries relate towage earners only; for crude petroleum and natural gas, the clerical field force is
included: for the public utilities, all employees except corporation officers and executives are included; and for the trade groups, all employees except corporation officers,
executives, ar:d other employees whose duties are mainly supervisory.
August 1943
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
S-15
SURVEY OF CURRENT BUSINESS
June
1943
1942
1943
June
July
August
September
October
Novem- December
ber
January
February
March
2,608
2,080
1,579
501
146
2,590
2,057
1,564
494
135
2,582
2,023
1,540
483
124
2,585
1,996
1,520
475
119
132
12
382
121
12
398
111
11
434
106
11
470
102
11
265
38
185
3
113
44
20
50,140
19,877
30, 263
267
39
197
3
117
43
20
47,640
19,635
28,005
275
40
217
14
121
43
18
57,080
22,373
34, 707
276
39
233
32
124
43
17
64, 707
27,174
37, 533
279
39
245
47
124
43
16
56, 031
23, 016
32,115
28, 556
6,339
14
5,969
20, 931
20, 520
28, 556
14,805
13, 630
2,387
12, 265
77.3
28,515
6,296
16
5,871
20,859
20,476
28, 515
14, 308
13,067
1,925
12,627
77.4
28,347
6,191
13
5,919
20,785
20,413
28, 347
13,981
12,759
1,518
12,758
77.7
28, 982
6, 846
13
6,455
20, 656
20, 303
28, 982
14,131
12, 204
2,315
13, 128
75.8
28, 548
6,647
31
6,222
20, 614
20, 261
28, 548
13, 459
12,031
1,728
13, 539
76.4
29,743
31,305
31,848
30, 098
31, 386
29,434
1,888
5,245
5,408
31,162
1,858
2,964
5,467
31,815
1,913
2,266
'5,479
30,112
1,890
8,044
5, 527
31, 395
1,838
rr 7, 981
5, 633
5,268
112
9,197
31,918
26,740
4,476
5,059
13,117
4,088
5,333
105
9,509
31,953
26,738
4,244
5.001
13,394
4,099
5,361
89
9,195
31,935
26,766
3,755
4,993
13,821
4,197
5,381
115
9,148
35,135
29, 917
4,842
6, 530
14, 358
4, 187
1,908
3,270
9,790
6,131
637
1,919
3,296
9,517
5,963
585
1,940
3,229
9,456
5,912
617
1,992
3,226
10, 637
5, 850
1, 652
r 5. 480
'121
8, 879
37, 394 ,
32, 467
5,639
6, 883
15. 757
4,188
1, 850
3,077
358
1,184
46
1,434
342
1,176
57
1,394
344
1,162
54
1,367
504
1, 161
83
1,387
491
1,150
94
1,345
1.00
4.00
1.50
1.00
4.00
1.50
2.36
2.76
3.24
1.00
4.00
1.50
1.00
4.00
1.50
1.00
4.00
1.50
.44
.69
1.25
.44
.69
1.25
.44
.69
1.25
.44
.69
1.25
.44
.69
1.25
1.00
.367
1.00
.372
1.00
.373
1.00
. 373
1.00
.373
1.29
1.24
1.33
1.39
5,594
5,622
5,663
5, 677
5,726
1,445
14
1,468
14
1,493
13
1, 517
12
r 1, 546
r 12
April
May
FINANCE—Continued
BANKING—Continued
Agricultural loans outstanding of agencies
supervised by the Farm Credit Adm.:
2.659
2,733
2,696
2,864
2,846
2,776
Total, excl. joint-stock land bks
mil. ofdol.
2,818
2,179
2,115
2,252
2,148
2,274
2,207
Farm mortgage loans, total
do
2,232
1,603
1,692
1,645
1,625
1,706
Federal land banks
_..do
1,679
1,663
512
534
523
568
560
Land Bank Commissioner
do
553
544
145
159
155
115
117
Loans to cooperatives, total
do
117
126
Banks for cooperatives, including central
130
145
104
140
101
112
bank
..mil. of doh
104
13
13
12
13
13
12
12
Agr. Mktg. Act revolving fund
do
409
384
477
392
475
469
Short term credit, total
do
443
Federal intermediate credit banks, loans
to and discounts for:
Regional agricultural credit corps.,
prod, credit ass'ns, and banks for
273
261
246
253
260
249
255
cooperativescfmil. ofdol
39
47
39
47
38
47
43
Other financing institutions
do
185
202
249
248
190
243
225
Production credit associations
-do
4
5
4
5
5
5
5
Regional agr. credit corporations...do
113
129
118
130
114
124
128
Emergency crop loans
do
44
47
46
45
45
46
46
Drought relief loans
.
do
21
27
26
124
23
26
125
Joint-stock land banks, in liquidation..do
49, 951
46, 056 59, 483
58, 025 45, 686 45, 615 44,898
48,123
Bank debits, total (141 centers)
do
23, 921
18, 323
17,016
17,051
New York City
d o . . . . 23, 595 17, 394 17,110
18, 593
35, 562
29,040
34, 430 28, 292 28, 505 27,847 29, 530
31, 627
Outside New York City
...do
Federal Reserve banks, condition, end of mo.:
26,953
27, 748 29,019
25,298 25, 754
Assets, total
mil. ofdol. 29, 599 24, 672 25,139
6,679
4,959
5,714
2,775
7,576
3,245
3,565
3,774
Res. bank credit outstanding, total
do
11
7
6
5
3
4
7
8
Bills discounted
do
"5,399
6,189
3,153
4,667
7,202
2,645
3,567
United States securities
_do
3,426
20, 908
20, 582 20,830 20,802 20,803 20,808
20,813
20,799
Reserves, total
_do
20, 224 20, 566 20, 546 20,575
20, 569
20, 573 20, 554
20, 576
Gold certificatesdo
29, 599 24, 672 25,139 25, 298 25, 754
29,019
27,748
26,953
Liabilities, total
do
14,022
13,957
14, 534 15,194
14,159
14,313
13,952 13, 660
Deposits, total
__.do
12,
305
12,492
12,
735
13,
208
13,117
12,
085
12,338 11, 592
Member bank reserve balances
do
1,988
1,210
2,362
2,130
2,644
2,909
2,143
1,690
Excess reserves (estimated)
do
13,
872
9,721
11,756
12,193
9,376
11, 220
10,157
Federal Reserve notes in circulation .do
10, 658
73.8
79.1
89.3
87.1
81.5
76.3
Reserve ratio
.
percent86.3
85.6
Federal Reserve reporting member banks, condition, Wednesday nearest end of month:
Deposits:
28,852
25,502
26,670
28,257
28,639
27,217
27,424
Demand, adjusted
..mil. of dol.. 32, 289
Demand, except interbank:
Individuals, partnerships, and corpora28,733
28,709
26,818 27,344
28,345
tions
mil. ofdol.. 32, 536 25, 343 26,236
1,759
1, 852
1,811
1,867
1,803
1,806
1,947
1,909
States and political subdivisions. _ .do
6,757
5,652
1,782
1,442
1,511
2,696
3,092
2,018
United States Government
do
5,256
5,115
5,112
5,158
5,215
5, 688
5,285
5,228
Time, except interbank, total
do
Individuals, partnerships, and corpora4,955
4,975
5,102
5,530
5,087
5,130
tions
mil. of dol_.
5,019
5,038
119
120
102
100
100
137
121
States and political subdivisions...do
115
8,444
8,898
9,454
9,141
8,716
9,090
8,681
8,527
Interbank, domestic
do
22,816 24,075
27,229
28,092
31,148
36, 358 21,642
Investments, total
do
25, 593
17,352
21,879
22,874
25,898
31,414
16,200
U. S. Gov't direct obligations, total..do
18,493
19, 948
1/921
2,811
3,786
4,860
1,447
3,570
Bills
_
.do....
2,245
2,337
1,455
2,945
4,958
6,971
1,471
3,029
3,429
Certificates
do
2,267
11,118
11,725
12,985
15, 714 10,383
11,634
Bonds
do
11,228
11,257
4,169
4,241
Notes
...do
3,869
2,899
2,858
3,325
4,398
2,753
Obligations guaranteed by U. S. Govern1,881
2,032
2,035
2,095
1,934
1,937
ment
mil. of dol..
1,907
2,106
3,063
3,410
3,429
3,284
3,313
3,443
Other securities
do
3,487
3,539
9, 485 10,740
10,696
10,321
10, 320 10,295
Loans, total
do
10,382
10,361
5,542
6,810
6,768
6, 304
6,552
6,440
Commerc'l, indust'l, and agricult'lf__do
6,595
6,581
1,014
519
569
850
700
To brokers and dealers in securities..do
529
493
526
Other loans for purchasing or carrying
382
389
424
393
407
381
369
securities
mil. of dol_.
381
1,199
1,230
1,207
Real estate loans
do
1,158
1,236
1,221
1,217
1,230
22
53
28
29
Loans to banks
do
36
26
65
46
1,537
1,533
1, 319
1,693
1,746
1,657
1,616
Other loans
do
1,578
Money and interest rates:§
Bank rates to customers:
2.07
2.09
2.70
2.28
New York City
percent..
2.56
2.63
2.98
2.66
7 other northern and eastern cities
do
3.34
3.26
3.38
3.25
11 southern and western cities
do
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
Discount rate (N. Y. F. R. Bank)
do....
4.00
4.00
4.00
4.00
4.00
4.00
4.00
4.00
Federal land bank loans
do
1.50
1.50
1.50
1.50
1.50
1.50
1.50
1.50
Federal intermediate credit bank loans.do
Open market rates, New York City:
Prevailing rate:
Acceptances, prime, bankers, 90 days
.44
.44
.44
.44
.44
.44
.44
.44
percent..
.69
.69
.69
.69
.69
.69
.69
.69
Com'l paper, prime, 4-6 months do
1.25
1.25
1.25
1.25
1.25
1.25
1.25
1.25
Time loans, 90 days (N. Y. S. E.)..do
Average rate:.
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
Call loans, renewal (N. Y. S. E.)...do
.363
.372
.371
.374
.363
.370
.368
.370
U. S. Treasury bills, 3-mo
do
Average yield, U. S. Treasury notes, 3-5 yrs.:
1.34
1.27
1.32
1.20
1.28
1.15
1.25
1.28
Taxable*
percent..
Savings deposits:
Savings banks in New York State:
5,422
5,492
5,411
5,813
5,449
5,570
5,427
5,459
Amount due depositors
mil. of doL.
U. S. Postal Savings:
1,417
1,576
1,316
1,329
1,344
1,377
1,396
1,358
Balance to credit of depositors
do
21
24
12
19
17
16
20
18
Balance on deposits in banks
do
r
Revised
1
Amount estimated for 1 bank.
c?To avoid duplication these loans are excluded from the totals.
§For bond yields see p. S-20. t Includes open market paper no longer reported separately.
"New series. Earlier data for the series on taxable Treasury notes appear on p. S-14 of the April 1942 Survey; there were
maturity range after Mar. 15,1942.
2, 582
1, 970
1, 502
468
114
9,788
5,662
1,046
no tax-exempt notes outstanding within the
S-16
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the
June
1942 Supplement to the Survey
August 1943
1942
June
**y
A
^ust
I
Sepb
l e
x
1943
Octo-
^
Novem- December
ber
January
February
March
April
May
FINANCE—Continued
CONSUMER SHORT-TERM CREDIT j
Total consumer short-term debt, end of month* i
mil. of dol_ _ 1
Instalment debt:
Sale debt, total*
do.. i
Automobile dealers*
do
Department stores and mail order
houses*
mil. of doL.
Furniture stores*
do
Household appliance stores*
do
Jewelry stores*
.
do
Allother*
do
Cash loan debt, total*
do
Commercial banks, debt*
do
Credit unions:
Debt§
.do-...
Loans made
do
Repayments?
.do
Industrial banking companies:
Debt
do
Loans made
do
Repayments
.do
Personal finance companies:
Debt
do
Loans made.
__
do
Repayments
_..do
Repair and modernization debt*...do
Miscellaneous debt*
_ _._.do
Charge account sale debt*
do
Open credit cash debt*
do....
Service debt*
do
Indexes of total consumer short-term debt, end
of month:*
Unadjusted
__ ..1935-39=100..
Adjusted
do
6,557
6,403
6,169
6,156
' 5, 702 ' 5, 490 ' 5, 351
5, 241
5, 075
1,862
769
277
261
449
428
183 '
169
67
63
182
172
1.716
1,642
491
460
1, 704
664
1, 571
573
1,495
482
' 1,314
404
' 1,190
351
1, 020
200
955
2-35
253
408
154
61
164
1, 551
421
247
392
141
61
157
1,483
393
254
391
130
78
160
1,428
370
359
116
'64
143
1,346
345
210
338
103
57
132
1, 275
319
' 1,071
287
196
322
91
'51
124
1, 252
312
r 190
319
81
' 50
120
1, 206
299
178
308
72
48
111
1. 160
290
122
7,513
7,007 i
6,719 |
2,474
1,120
2.247
1, 004
2,032
874
382
512
' 218
79
213
1,853
546
300
475
••201
71
196
1,789
521
118
19
179
20
25
173
18
24
166
16
23
160
16
22
152
14
22
145
14
21
141
18
22
132
11
20
126
13
19
127
22
21
ii
' 21
' 118
14
'18
174
35
35
261
36
43
253
34
42
246
33
40
236
31
41
222
30
44
211
25
36
202
31
40
193
25
34
185
26
34
184
38
39
179
31
36
174
29
34
368
81
79
493
68
79
'276
98
1,430
1,125
631
481
63
75
264
97
1,225
1.112
634
466
60
75
252
95
1,232
1,102
637
452
60
74
240
94
1.320
1,095
638
437
59
74
227
92
1,419
1,088
641
428
59
68
215
91
1,386
1,085
644
424
82
86
200
91
1,513
1,072
648
403
45
66
184
89
1,333
1,058
651
387
50
66
170
88
1,333
1,038
654
378
62
71
141
87
1,331
1.029
655
366
58
70
127
85
1,275
1,027
658
112
113
109
109
106
106
102
102
102
98
87
8S
84
84
47
66
119
5
5
23
5
4
10
8
12
5
20
2
20
405
61
6,781
538
520
2,249
237
33
421
76
50
207
163
341
53
262
22
384
2,475
556
27
54
77
5
4
5
2
2
10
5
11
5
15
0
13
355
43
5,473
268
646
1,661
519
28
90
17
29
217
131
110
100
280
0
140
2,276
622
673
40
61
102
0
7
17
1
3
9
7
13
3
20
4
18
405
65
7,181
525
756
2,374
0
146
352
7
21
81
69
580
125
628
170
195
2,660
866
585
27
63
98
4
5
10
5
2
18
2
16
3
16
2
15
352
45
5,245
267
717
1,823
198
64
176
297
49
185
12
132
62
467
17
164
2,009
429
506
22
47
86
2
3
11
4
3
11
4
12
4
19
3
10
307
44
6,950
526
1,189
1,997
7
12
195
120
40
272
288
77
49
216
525
196
2,392
846
125
125
116
118
387
86
86
155
87
1, 343
1,031
654
89
90
INDUSTRIAL AND COMMERCIAL
FAILURES
Grand total
number..
Commercial service, total
.do
Construction, total
do
Manufacturing and mining, total.
do
Mining (coal, oil, miscellaneous)
do
Chemicals and allied products...
do
Food and kindred products
.do
Iron and steel 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
Liabilities, grand total
thous. of dol..
Commercial service, total
do
Construction, total
do
Manufacturing and mining, total
do
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
265
31
33
39
2
2
5
2
2
6
2
7
1
4
2
4
147
15
6,076
1,600
577
1,441
40
25
396
50
71
341
203
76
15
25
174
25
2,334
124
804
48
67
135
1
4
23
5
6
18
11
18
7
23
2
17
486
68
9,906
673
945
3,327
222
118
632
99
63
829
300
403
124
180
78
279
3,752
1,209
764
52
63
120
5
5
19
11
5
20
5
24
1
14
465
64
8,548
915
584
2,078
85
177
265
161
18
191
156
224
129
177
3,950
1,021
458
28
53
79
2
4
14
2
1
11
5
14
1
16
2
7
267
31
5,515
396
698
2,249
206
34
469
105
52
139
4
252
42
115
422
28
38
67
3
2
9
2
3
2
10
255
34
4,163
331
379
1,342
69
44
195
132
97
128
269
107
45
79
54
123
1,782
329
410
23
41
79
2
4
8
4
1
12
7
10
4
16
1
10
232
35
7,282
305
903
4,144
100
52
169
97
20
368
2,441
165
76
162
244
250
1,540
390
362
28
54
61
2
2
12
0
0
8
9
11
2
10
0
5
195
24
3, 523
579
597
1,105
22
20
192
0
0
117
289
169
50
150
0
96
1, 031
2J1
281
19
35
48
2
5
3
3
0
2
1
11
4
8
1
8
156
23
2,550
393
267
826
28
66
90
45
0
106
15
218
95
76
8
79
756
308
LIFE INSURANCE
Association of Life Insurance Presidents:
27, 462
29, 1>8 29, 340
28, 236 28, 394 28, 572 28,757 28,999
Assets, admitted, totalt
...mil. ofdol.27, 598 27, 725 27, 909 28,083
5.201
5,164
5,223
5,212
5,220
Mortgage loans, total
..do
5,213
5,194
5,224
5,203
?. 201
5,230
5, 225
653
685
661
687
685
Farm
do
651
688
667
675
680
646
651
4, 548
4,479
4,562
4,525
4,535
Other
_._
do
4,562
4,506
4,557
4,555
4,545
4,557
4, 550
1,218
1,410
1,302
1,392
1,382
1,286
1,400
Real-estate holdings
do
1, 308
1,262
1,238
1, 356
1,370
1,962
2,176
2,045
2,144
2,129
2,024
2,158
2,110
Policy loans and premium notes
do
2,068
2,092
2,003
1,982
Bonds and stocks held (book value), total
17,882
17, 431
17,904
18, 641 18, 672 18, 713 18,490
17,415
17, 843 17,905
mil. ofdol.
19, 740 19, 802
8,453
8,908
9,797
8,938
8,443
Gov't. (domestic and foreign), total.do
9,832
9,756
9,575
10, 833 10,899
8,929
9, 258
6,592
7,132
7,204
7,093
8,089
6,587
U. S. Government
do..
8,163
8,060
7,933
9,222
7,196
4,444
4,409
4,461
4,396
4,434
4,405
Public utility
do...
4,466
4,438
4,443
4, 432
4, 467
4,465
2,616
2,523
2,630
2,597
2,581
2,623
Railroad
_____
.__ d o . . .
2,508
2,515
2, 517
2,525
2,528
2,566
1,930
1,952
1,956
1,944
Other
__
_._.
do
1,919
1,907
1,922
1,925
1,925
1,912
1,955
1, 951
574
712
Cash
_.
_____ d o 495
690
716
876
870
537
394
1,074
868
1,370
560
Other admitted assets....
do.__
662
569
614
583
555
651
616
671
633
602
604
' Revised.
J36 companies having 82 percent of the total assets of all United States legal reserve companies.
§Revisions in 1941 data for credit unions are shown on p. S-15 of the January 1943 Survey.
•New series. Earlier figures and a description of the data appear on pp. 9-25 of the November 1942 Survey; subsequent revisions in 1941 data for total short-term debt
(dollar figures and indexes), total cash loan debt, and commercial banks are shown on p. S-15 of the February 1943 Survey. There have been additional revisions in the 1941
and early 1942figuresfor the series revised in the July 1943 Survey; revisions, which in most cases are minor, are available on request.
August 1943
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
S-17
SURVEY OF CURRENT BUSINESS
1943
1942
June
September
June
July
August
1943
October
Novem- December
ber
January
February
March
April
May
FINANCE—Continued
LIFE INSURANCE-Continued
Association of Life Insurance Presidents—Con.
Insurance written:®
Policies and certificates, total
710
628
679
thousands..
630
592
594
679
585
700
623
754
719
722
87
72
165
Group
.
do....
66
42
54
55
46
71
42
75
61
74
425
358
315
Industrial
do
366
364
340
428
385
356
380
432
405
409
197
200
Ordinary
do
199
186
191
198
204
243
184
201
248
253
239
Value, totalf
thous. of doL. 746, 604 662,506 635,789 535, 016 532,294 588, 237 584, 743 817, 547 576, 435 593,733 752, 561 747, 200 743, 026
Group
do
161, 061 151, 344 83, 304
78,094 114,180 317,373
84, 799
93,818
90,690 130,390 124,984 154, 406
Industrial
...do
129,863 112,917 112, 240 111, 795 135, 727 111,801
97,863 103,873 117,563 136,083 126, 662 127, 626
484, 017 371, 582 371, 528 339,472 335, 700 374, 416 358, 762 402,311 378,744 385,480 486,088 495, 554 460,994
Ordinary!
do
297, 643 277,493 278, 011 247,852 253, 735 262, 368 260,427 387,033 281,077 279,445 316,139 271, 638 274, 776
Premium collections, total®
do
20,092
22,128
Annuities
do.... 24, 516 25, 654 30,999
21, 753
60, 577
33,984
18,935
23,504
27,602
25,949
23, 405
15, 698
18, 610
15, 382
Group
do
16,857
19,312
16, 297
16,073
17, 775
14, 291
19,334
18,918
19,4.10
15, 630
64, 014
65,817
58,805
Industrial
do
58, 539
97, 855
57, 639
56, 368
56, 836
58,855
59,376
68,170
56, 736
57,341
188, 700 172,127 174, 347 155, 771 159, 456 167, 706 162,903 210,826 170,142 177,231 201,449 169, 543 178,400
Ordinary
do
Institute of Life Insurance:*
Payments to policyholders and beneficiaries,
total
.thous. of doL.
203, 882 204,396 165, 866 176,104 189, 326 176, 247 244,909 203, 604 187,853 229,883 205, 253 194, 285
Death claim payments
do
80,109
97,826
80, 702
89, 707
93, 442 85, 549 105,836
93, 508
71, 785
76, 726
84,114
89, 485
Matured endowments
do
22,132
21,802
22, 478
20, 444
25, 777 24,237
30, 556
31, 709
17,449
20, 283
22,464
27, 950
7,218
7,414
Disability payments
do
8,823
8,360
8,302
8,272
7,710
7,930
7,021
8,053
7,135
7,255
12,763
13,192
Annuity payments
do
14,173
14, 549
17,015
14,135
14,016
10, 607
12,978
13,968
12, 796
12.842
25, 880
68,314
Dividends
do
37, 221
32, 252 24,851
34, 377 33,817
40, 234
31, 680
27, 510
27, 258
30,812
28,145
36, 361
40, 485
39,084
24, 691
Surrender values, premium notes, etc.do
30,850
26, 630
33, 244
31, 586
33, 469
24,319
25,941
Life Insurance Sales Research Bureau:
Insurance written, ordinary, total
do
632, 597 463, 325 459, 499 430, 297 432, 679 467, 814 447, 749 521, 524 485,782 508,908 631,863 634, 209 605, 286
New England
do
37,029
34, 767
36,426
39, 396 36,761
45,838
37, 051
33, 590
34,983
48, 325
37, 408
48,103
50, 757
Middle Atlantic
do
162, 344 117, 577 115,844 100, 695 101,125 118,351 119, 590 143, 961 137, 295 136,677 166, 717 170,949 155, 785
East North Central
d o . . . 138,914 106, 796 105, 599 97, 929 96,148 106,057 100, 774 114, 554 108,316 117,268 146, 476 140,101 133, 426
West North Central
do_... 63, 243 47, 660 46, 746 44,693
44, 357
46, 684 49, 563
52, 563
45, 203
64, 615
60,335
47, 518
61, 742
South Atlantic
do
44, 407
45,188
50, 307 43,661
63, 313
44, 696
44, 285
46,426
61, 797
49,708
62,379
47, 720
65,961
East South Central
do
19,182
17,410
18,131
27, 620
18, 549
20,220
17, 515
18,413
24, 316
19,722
26,192
18,867
24, 402
32, 247
30, 565
34,133
West South Central
do
46, 796
32,199
38,142
32,785
35,445
37,235
44, 098
32, 234
42,887
41.843
12, 288
12, 703
12,798
Mountain
do
20,116
13,165
16,069
12,123
12, 390
17,803
13,059
13, 752
17, 501
17, 565
46,139
42,395
45,368
Pacific
do
49, 282
64, 413
45, 650
43, 939
59, 760
45, 289
46,600
48T 222
59, 909
57, 614
80
Lapse rates
1925-26=100...
77
MONETARY STATISTICS
Foreign exchange rates:
Argentina
dol. per paper peso.
.298
.298
.298
.298
.298
.298
.298
.298
.298
Brazil, official d"_.dol. per cruzeiro.
.061
.061
.061
.061
.061
.061
.061
.061
.061
.061
.061
.061
.061
British India
dol. per rupee..
.301
.301
.301
.301
.301
.301
.301
.301
.301
.301
.301
.301
.301
Canada, free rate§
dol. per Canadian dol.
.900
.899
.879
.896
.895
.881
.901
.878
.876
.900
.899
.901
.902
.570
. 571
.572
.572
.572
.570
Colombia
dol. per peso.
.573
.570
.571
.572
.572
.573
.573
.206
.206
.206
.206
.206
.206
Mexico
do
.206
.206
.206
.206
.206
.206
.206
4.035
4.035
4.035
4.035
4.035
4.035
United Kingdom, official rate§
dol. per £..
4.035
4.035
4.035
4.035
4.035
4.035
4. 035
Gold:
22,737
Monetary stock, TJ. S
mil. of dol.
22,743
22,726
22,683
22,744
22,756
22, 754
22, 388
22,740
22, 473
22,644
22, 576
22,426
Net release from earmark*
thous. of doL. -51,684 -14, 792 -24,383 -21, 763 -27,759 -56,440 -10,752 -30,974 76,063 63,411
101,005 45,122
Production:
Reported monthly, total J
do
• 79, 235 - 83, 332 • 77, 378 • 76, 807 • 78,266 ' 70, 380 • 68,372 • 64, 861 63, 903 P61,866 p63, 467 v 63,070
Africa
do
46,665
42,897
47,460
43,473
41,806
45,044 r45,458
46,052
39,084 »41, 234
41,997
42, 591
' 14, 979 ' 14, 991 1 14, 221 ' 13,325 • 13,479 • 12,801 • 12, 704 11, 708
Canada?
do....
12,169
10, 969
11, 459
11, 308
10, 507 " 12, 756 • 10,166 • 11,837 •12,015
United States!
do
r 7,831 ' 6, 212
4, 054
4,520
4,0G5
4,121
4, 891
12,383
14,805
15,410
Currency in circulation, total
mil. of dol.. 17,421
15,590
12,739
13,200
13,703
14, 210
16,250
17,114
16,088
16, 660
Silver:
.351
.448
Price at New Yorkdol. perfineoz_.
.351
.448
.448
.351
.448
.448
.448
.448
.448
.448
.448
Production:
1,537
1,623
1,634
Canada
thous. offineoz_.
1,966
1, 505
1,606
1,758
1,870
1,623
1, 672
1,771
4, 528
3,673
Unitod States
do....
3,292
5,048
3,538
4.412
3,819
4,561
3,172
3, 636 ' 3, 579
3, 013
2,685
3,150
Stocks, refinery, U. S., end of month___do
2,851
3,744
3,505
3,128
4,510
2,922
2,714
1,931
1, 988
2,717
BUSINESS INCORPORATIONS
New incorporations (4 States)
number. - 1,008
889
784
939
1,032
832
818
890
962
1,026
810
988
PROFITS AND DIVIDENDS
Industrial corporations (Federal Reserve):
Net profits, total (629 cos.)
mil. of doL.
364
451
557
437
Iron and steel (47 cos.).
do
52
51
72
51
35
Machinery (69 cos.)
do
36
49
39
Automobiles (15 cos.)
„
do
46
92
Other transportation equip. (68 cos.)--do
148
154
149
Nonferrous metals and prod. (77 cos.)_do
32
36
34
Other durable goods (75 cos.)
do
18
30
22
Foods, beverages, and tobacco (49cos.)_do
32
44
42
Oil producing and refining (45 cos.)
do
27
49
42
Industrial chemicals (30 cos.)
do
35
48
41
27
35
Other nondurable goods (80 cos.)
do
35
34
47
Miscellaneous services (74 cos.)
do
52
Profits and dividends (152 cos.):*
Net profits
..
do
211
294
174
Dividends:
Preferred
do
23
21
23
21
Common
.
do
136
126
158
127
Electric power companies, net income (28 cos.)
(Federal Reserve)*
mil. of doL25
35
36
Railways, class I, net income (I. C. C.)
do
199.2
383.9
284.1
209.4
Telphones, net operating income (Federal
Communications Commission) __«mil. of dol..I
66.0 i
._.
6.2 !
63.6 I
!
l
p Preliminary.
Partly estimated.
• Or increase in earmarked gold ( - ) .
<g)39 companies having 81 percent of the total life insurance outstanding in all United States legal reserve companies.
cfPrior to Nov. 1,1942, the official designation of the currency was the "milreis."
§The free rate for United Kingdom shown in the 1942 Supplement was discontinued after Feb. 1,1943; the official and free rates (rounded to thousandths) were identical
from January 1942 to January 1943. The official rate for Canada has been $0,909 since first quoted in March 1940.
JData for Mexico, included in the total through March 1942, are no longer available for inclusion. Revised monthly averages for 1941 and 1942 for the total, excluding
Mexico and including certain other revisions, are as follows: 1941, 88,452; 1942, 80,674. Revised 1941 and 1942 monthly averages for Canada and the 1942 monthly average for
the United States are as follows: Canada—1941,15,590; 1942,14,121; United States—10,914. Monthly revisions for 1941 and Januarj-May 1942 are available on request.
tRevised beginning December 1938; revised figures beginning March 1942 are on p. S-17 of the May 1943 Survey; earlier revisions are available on request.
*New series. The series on payments to policyholders and beneficiaries, compiled by the Institute of Life Insurance, represents total payments in the United States,
including payments by Canadian companies; data are based on reports covering 90 to 95 percent of the total and are adjusted to allow for companies not reporting; data beginning September 1941 are available in the November 1942 Survey; earlier data will be shown in a subsequent issue. For data beginning 1929 for profits and dividends for
152 companies, see p. 21, table 10, of the April 1942 Survey. Earlier data for net income of electric power companies will be published in a subsequent issue.
S-18
SUKVEY OF CUKKENT BUSINESS
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
1943
June
August 1943
1942
June
July
August
September
1943
October
February
March
April
May
237,949 238,398 238, 952
183,802 190,108 197. 523
68, 208 74, 461 80, 543
1,014
887
1,240
108,170 111,069 114,024
246,147
203,832
87, 655
944
115, 507
246,116
212, 039
94, 945
1,470
129, 849
•246,024
220, 272
102, 318
1,335
135, 913
118, 848 124, 477
Novem- December
ber
January
FINANCE—Continued
PUBLIC FINANCE (FEDERAL)
United States war program, cumulative totals
from June 1940: •
Program
_
mil. of doL.
175, 599 220,237 221,968 221,918
Commitments
do
133,853 144, 735 153,052 160,155
110, 005 34,921
Cash expenditures
do
39,628 44, 791 50, 250
876
War savings bonds, sales*
do
634
901
734
838
136, 696 72,495 77,136 81,685 86, 483
Debt, gross, end of month®
do
Interest bearing:
124, 509 64,156
Public issues
do
72,982 77, 338
Special issues to government agencies and
trust funds
_
mil. of doL. 10, 871
7,885
8,125
8,262
8,509
Noninterest bearing
do
1,316
454
442
441
637
Obligations fully guaranteed by U. S. Gov't:
Total amount outstanding (unmatured)cf
mil. of doL.
4,548
4,551
4,567
4,552
4,092
By agencies-cf
Commodity Credit Corp
do
480
738
754
701
738
Federal Farm Mortgage Corp
do
930
930
930
930
930
Home Owners' Loan Corporation..do
1,533
1,533
1,533
1,563
1,533
Reconstruction Finance Corp
do
1,011
1,216
1,216
1,219
1,216
Expenditures, total
_
do
8,327
5,215
5,931
4,531
5,162
War activities!
...do
7,469
4,884
5,384
3,829
4,498
Agricultural adjustment program
do
31
43
47
35
30
Unemployment relief
do
6
72
68
52
40
Transfers to trust accounts!.do
1
1
249
19
5
Interest on debt
do
390
35
609
7
224
Debt retirements.
do
1
0
2
(°)
(•)
206
198
263
Allothert--do
224
242
4,569
794
Receipts, total..
do
2,494
797
2,528
747
4,569
Receipts, net
_
do
2,492
587
2,527
Customs
do
34
28
24
22
20
Internal revenue, total
do
742
4,211
2,424
748
2,476
Income taxes
_
do
273
3,803
2,086
155
2,126
Social security taxes
do
57
42
53
232
43
Government corporations and credit agencies:
Assets, except interagency, total .-mil of doL. 26, 708 17,962
18,482
19, 401 19, 974
Loans and preferred stock, total
do
8,859
8,813
8,241
9,026
8,948
Loans to financial institutions (inch preferred stock).
._
mil. of doL.
1,029
1,002
964
974
828
Loans to railroads
do
498
498
451
497
497
Home and housing mortgage loans do
2,286
1,937
2,297
2,357
2,344
Farm mortgage and other agricultural
loans..
mil. of dol..
3,076
2,949
2,813
3,038
2,994
All other..
_
do
2,096
1,885
2,117
2,067
2,067
U. S. obligations, direct and fully guaranteed
..mil. of doL.
1,097
1,113
1,144
1,197
1,565
Business property
_...._.do.
859
879
952
1,674
924
Property held for sale
do.
6,310
4,287
4,177
3,512
3,808
All other assets
do.
8,917
4,725
4,295
3,468
3,735
Liabilities, other than interagency, total
mil. of dol.. 11, 456
9,275
9,482
10,161
9,728
Bonds, notes, and debentures:
Juaranteed by the U. S
do.
4,101
4,592
4,568
4,574
4,581
Other
do
1,333
1,445
1,434
1,442
1,443
Other liabilities, including reserves...do
6,022
3,691
4,154
3,265
3,457
Privately owned interests
do
440
439
439
438
438
U. S. Government interests
do...
15, 445
9,234
9,373
8,249
8,562
Reconstruction Finance Corporation, loans outstanding, end of month:*[
Grani total
thous. of dol. 6,840,475 4,085,264 4,273,373 14,545,609 4,628,502
Section 5, as amended, total . . . . _.do
581, 012 734,070 733,316 | 735,862 735,093
Banks and trust companies, including
receivers ..
thous. of doL. 60, 566 65,803
65, 575 67, 449 66,793
Building and loan associations
do
3,242
5,630
5,037
4,705
4,574
Insurance companies
do
485
686
669
659
600
Mortgage loan companies
do
98, 60S 198,926 199, 280 200, 562 199, 737
Railroads, including receivers.
do
416, 261 462,088 461,826 461, 563 462, 470
All other under Section 5
do
1,848
937
928
924
920
Emerg. Rel. and Constr. Act, as amended:
Self-linuidating projects (including financing repairs)
thous. of dol.- 16, 702 17,310
17,195
17,194
17,153
Financing of agricultural commodities
352
thous. of dol..
349
57
349
349
Loans to business enterprises (including
participations).
thous. of dol. . 103, 950 135,961 134, 278 132, 942 131,349
National defense§
do
,932,910 ,940.499 2,129,933 2,409,243 2,484,112
Bank Conservation Act, as amended., do
672, 275 >99.708 698,494 693,213 690,851
Drainage, levee, irrigation, etc
do
60, 603 70, 359
68,794 69,357 69,076
Other loans and authorizations
do
472, 967 487,004 491,014 487,450 500,519
237, 913
168, 313
55, 972
814
92,904
237,659
177,913
62,084
735
96,116
83,680
86,671
103, 286
104, 284
8,585
639
8,787
657
9,Q32
862
9,172
1,045
9, 565
1,773
10, 004
1,219
9,795
1,206
10,198
1, 238
4,243
4,244
4,283
4,277
4,275
4,350
4, 363
4,082
749
930
1,533
896
5,937
5,481
48
35
56
70
788
930
1,533
896
6,501
5,825
70
12
25
353
1
215
2,702
2,701
24
2,649
1,972
50
782
930
1,533
896
6,372
5,947
86
29
35
54
780
930
1,533
896
6,119
5,770
92
23
2
35
(a)
198
1,190
955
26
1,075
380
343
779
930
1, 533
971
7,354
6,744
103
21
1
262
(«)
223
5,207
5,206
32
5,154
4,732
50
930
1,533
986
7,466
* 6, 974
81
6 35
38
89
485
930
1, 533
996
7,435
7,092
65
12
1
42
247
648
607
24
603
206
48
749
930
1,533
896
6,363
6,042
66
31
3
28
(°)
193
830
601
23
784
199
248
20,534
8,781
20,992
8,779
21,715
8,746
22,643
8,691
23, 437
24,151
8,565
24, 706
8,652
949
497
2,286
953
496
2,265
957
486
2,241
920
489
2,237
474
2,219
833
469
2,197
837
462
2,158
821
459
2, 141
2,925
2,124
2,916
2,149
2,912
2,151
2,878
2,168
2,871
2,167
2,868
2,196
3.003
2,193
2, 891
2,194
1,219
976
4,710
4,848
1,222
1,001
4,701
5,288
1,272
1,020
5,187
5,489
1,284
1,041
5,638
5,989
1, 375
1, 359
5, 883
6,232 j
1. 424
1, 510
1,408
1,428
6,074 ! 6,081
6, 681
7, 035
9,863
10, 268
10, 345
10, 533
10,791
4,265
1,413
4,185
442
10, 230
4,264
1,404
4,601
443
10, 281
4,301
1,414
4,630
439
10,931
4,291
1,413
4,829
439
11,671
4,332
1, 383
5,076
440
12, 206
(°)
98, 276 100,852
222
824
788
25
724
306
52
4,848,279
735,685
4,916,226 5,312,352 5,604,641
735,209 723,554 723,906
66,434
5,170
597
200,522
462,050
912
65, 711 65, 082 63,876
5,060
4,671
4,315
529
529
529
202,044 201, 689 200,686
460,968 450,499 453,432
1,085
1,069
10,850
4,365
1,375
5,109
441
13, 321
5,805,976 6,107,850
706, 520
706,147
()
223
1,742
1,480
37
1, 5S1
940
24, 805
8,507
1, 549
1,475
6,167
7,108
11,386 i 11,17
4,372
1, 366
5,648
440
13, 485
4, 092
1, 340
5, 746
440
13, 820
6,368,364 6,678,095
693, 233 715, 774
63, 362
4,218
522
198, 689
438, 668
1,061
62, 576
3, 835
519
204,261
434, 378
678
62,128
3, 904
488
199, 402
420. 665
646
61,006
2,812
485
225, 243
424, 338
1, 890
10, 757
16, 724
17,133
17,056
16,960
16, 954
16, 809
16, 824
349
349
339
204
157
117
129,187
5,715,892
689,429
67,115
493, 489
126, 516
2.770,008
688, 208
66,832
511, 987
123, 775 117, 536
3,188, 266 3,493,874
687,421 683,069
66, 665 65,469
505, 373 503, 628
(a)
250
1,555
1,514
32
1, 396
1,000
50
115, 250
111,206
3,734,583 4,045,737
677. 112
679,830
63, 366
64, 444
487, 341
117 i
57
107, 541 105, 567
4,330,509 4,628,627
676,123 673, 940
61.477
60, 830
482, 608 476, 574
SECURITIES ISSUED
(Securities and Exchange Commission)^
r
••818
994
3, 733
3,107 r 2, 059 r 2, 550 r 5, 003
-•786
1,389
10, 279
1,092
i,958
1, 455
Estimated gross proceeds, total
mil. of dol..
By types of security:
r
802 ' 3,107 r 2, 059 * 2, 536 r 5, 001
3,723
994
1,440
i, 958 I 1,389
10, 274
1,078
Bonds, notes, and debentures, total ..do
89
'68
M3
'61
9
86
68
49
84
r 135
Corporate..
do
r 11
4
1
3
0
7
0
0i
0
9
Preferred stock
do
14
3
0
0
0
|
(a)
8
()
C)
Common stock
do
7
'Revised.
° Less than $500,000.
6
$20,000,000 added to unemployment relief and deducted from war activities to adjust for erroneous classification of this amount in December 1942.
<8> Figures beginning July 1942 are on the basis of Daily Treasury Statements (unrevised); earlier figures are on the revised basis as shown in the Public Debt Statement
which was discontinued after June 1942.
<•? The total includes guaranteed debentures of certain agencies not shown separately.
JFor revisions beginning July 1941, see p. S-17 of the November 1942 issue.
^Includes repayments unallocated, pending advices, at end of month.
§Covers all loans for national defense beginning October 1942; prior to October some defense loans are included in "other loans and authorizations;" loans to foreign governments for dollar exchange, formerly included in "national defense" beginning October 1942, are now included in "other loans and authorizations" for all months.
fSee note marked " t " on p. S-19.
*New series. The series on the war program has been revised to cover the United States program only; for revised data beginning July 1940, see p. 29, table 7, of the
June 1943 issue; cumulative totals (preliminary) through June 1943 for the series on program and cash expenditures published in the Survey through the April 1943 issue,
including foreign orders placed in the United States and payments by foreign purchasing missions, are as follows (millions of dollars): Program, 279,985; cash expenditures,
113,762. The series on war savings bonds is from the Treasury Department and represents funds received during the month from sales of series E, F, and G; for earlier data
see p. S-16 of the October 1942 Survey; the August figure has been revised to include $37,000,000 representing reports for August received during the first few days of September.
S-19
SURVEY OF CURRENT BUSINESS
August 1943
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
1942
1943
June
June
August
July
September
1943
October
Novem- December
ber
January
February
March
April
May
FINANCE—Continued
SECURITIES ISSUED-Continued
(Securities and Exchange Commission) f
Estimated gross proceeds—Continued.
By types of issuers:
Corporate, total.
_
mil. of dol.
52
Industrial
do
1
Public utility
do
47
Rail
....do....
0
Other
do
3,634
Non-corporate total®
do
3,583
U. S. Government
do
51
State and municipal
do
New corporate security issues:
97
Estimated net proceeds, total
do
Proposed uses of proceeds:
25
New money, total
do
10
Plant and equipment
do
15
Working capital
do
Repayment of debt and retirement of
70
stock, total
mil. of doL.
51
Funded debt.
.do
(a)
Other debt
do
19
Preferred stock
do
2
Other purposes
do
Proposed uses of proceeds by major groups:§
50
Industrial, total net proceeds.mil. of dol.25
New money
do
Repayment of debt and retirement of
23
stock. _
.__
.mil. of doL.
1
Public utility, total net proceeds._.do
(a)
New money
do
Repayment of debt and retirement of
1
stock
mil of dol...
46
Railroad, total net proceeds
do
0
New money
do
Repayment of debt and retirement of
46
stock
mil. of dol. (Commercial and Financial Chronicle)
Securities issued, by type of security, total (new
capital and refunding)
...thous. of dol.. 221,374
41,333
New capita], total
do
41,333
Domestic, total.
do
29,999
Corporate
do
1,140
Federal agencies
do
10,194
Municipal, State, etc
do
0
Foreign.
do
180,041
Refunding, total
..do
Domestic, total
do__. 162,041
77,813
Corporate
do
43,475
Federal agencies
do
40, 753
Municipal, State, etc
..do
18,000
Foreign.,.
do
Domestic issues for productive uses (Moody's):
12
Total
mil. of dol..
3
Corporate
do
Municipal, State, etc
do
(Bond Buyer)
State and municipal issues:
Permanent (long term)
thous. of doL. 57, 864
48, 071
Temporary (short term)
do
COMMODITY MARKETS
Volume of trading in grain futures:
235
Wheat
mil. of bu..
1
12
Corn
do
SECURITY MARKETS
Brokers' Balances CN. Y. S. E. members
carrying margin accounts) 1
Customers' debit balances (net)
mil. of dol..
Cash on hand and in banks
do
Money borrowed...
do
Customers' free credit balances
do
Bonds
761
167
529
334
'152
r 71
'71
9
1
666
634
32
'149
'61
' 53
'6
2
0
3,046
2, 998
47
'75
57
' 18
'20
'17
'4
'91
'56
'10
5
'3
'39
'31
8
'60
'43
'2
'38
2
0
'2,016
r
1, 969
47
'82
'39
'41
1
0
' 2, 468
2,444
'23
'46
'30
9
0
4, 958
4,919
38
'45
'42
(a)
'35
'17
' 17
0
0
752
735
17
'34
3
'27
4
0
6,925
6,906
18
49
49
3
39
8
0
945
887
57
98
61
22
15
0
994
944
50
'33
8
49
' 5
'1
'4
'16
'15
1
1
0
1
'29
'28
'1
17
13
'34
91
28
59
3
83
18
39
14
12
10,188
10,165
1.371
1,335
96
88
81
12
10
2
39
6
32
9
3
6
32
14
18
8
6
2
0
0
37
34
3
0
0
49
42
1
7
8
79
74
3
2
49
49
0
0
3
2
8
1
2
2
59
33
27
5
17
11
1
'27
'10
8
0
0
39
2
18
22
1
22
58
1
7
38
0
17
4
4
0
0
0
37
8
8
21
15
5
57
3
3
38
14
14
0
0
10
0
0
102,306 199,837
57,900
89, 645
57, 900
87, 395
11,330 ' 54, 693
159, 700
37, 677
37, 677
20, 785
6,860
10,032
157,362
43, 727
32, 070
28, 621
3,449
(a)
(a)
(a)
9
9
0
0
0
(a)
(a)
1,380
1,240
(a)
23
(a)
37
(a)
()
' 70
'55
'12
'70
17
(a)
'38
34
(a)
' 53
9
3
201*422 142, 322 161,739
96, 516 40,750 103,133
96, 516 40,750 103,133
76,827 27,510
58,600
0
2,060
2,515
17,628
10, 725 44,533
0
0
0
104,906 101,572 58,606
104.906 101,572
58,606
61,686
32. 719
6,018
28,455
32, 260 49,925
14,766
36, 593
2,663
0
0
0
100,977 115,001 • 99,871 150,404 176,420
28,145 • 31,029 ' 40, 792
45,085
6,670
28,145 •31,029 ' 40, 792 6,670
45,085
2,434 ' 6,679 ' 14, 717
28,446
2,798
0
16, 720
0
0
17,125
9,355
16,639
25, 711
7,225
3,872
0
0
0
0
0
55,893 86,856
68,842 109, 613 169, 750
55, 393 86,856
68,842 109.613
79,750
30,437 43,846
13, 531 ' 66, 329 7,517
18, 400 30, 645 45, 520 34, 245 26, 805
6, 556 12,365
9,792
9,039
45, 428
500
0
0
0
90,000
(a)
0
0
46, 570
44, 406
44, 406
1,865
31,875
10, 666
32, 702
2,250
110,192
110,192
38, 447
54,830
16,915
0
0
0
0
122,023
122,023
74, 902
34,505
12, 616
0
11. 658
113,635
88, 780
44. 744
44,036
0
0
24, 855
66
55
11
28
18
10
26
17
7
4
26
1
25
5
2
3
14
7
7
4
2
2
53
10
43
33
5
28
5
4
1
20
16
4
36,723
75,400
48,096
133, 530
60,862
53,672
28,862
203, 704
36,036
79,815
24,188
6,905
34,486
45,464
61,172
145,734
61,336
59,482
51, 369
69, 492
24, 539
19, 560
' 23,119
38, 013
267
145
390
104
257
141
261
85
190
81
146
94
224
125
212
103
188
30
236
15
210
44
155
18
496
180
309
240
491
172
307
238
490
500
510
520
550
610
670
'740
310
240
310
250
320
250
543
160
378
270
540
300
240
290
280
320
310
350
570
550
'320
'330
'330
Prices:
Average price of all listed bonds (N. Y. S. E.)
98.24
99.64
98.69
97.79
99.47
97.47
95.50
95.76
96.18
96.48
96.11
96.70
dollars. .
100.69
97.28
97.49
97.75
98.08
97.59
98.04
97.83
99.88
100. 53
98.72
99.03
99.42
Domestic
do
61.72
72.26
61.68
63.16
65.24
66.11
62.51
62.97
71.21
71.87
68.88
70.01
70.90
Foreign
do
Standard and Poor's Corporation:
Industrial, utilities, ana rails:
119.9
120.1
119.8
120.0
119.5
118.9
119.3
120.5
118.9
118.0
119.0
119. 5
High graded5 bonds).-dol. per $100bond..
118.7
Medium and lower grade:
109.2
106.4
109.9
110.0
105.4
108.0
98.1
98.9
102.1
103.2
99.3
100.7
103.6
Composite (50 bonds)
do
116.6
107.7
108.4
111.2
113.8
108.7
109.8
115.3
Industrials (10 bonds)
do
116.3
115.9
116.1
115.7
116.7
114.4
103.5
104.5
107.1
108.3
104.1
105. 8
109.1
111.4
113.4
113.7
110.5
112.1
Public utilities (20 bonds)
do..98.7
83.0
83.9
88.0
87.6
85.2
86.4
86.5
Rails (20 bonds)
do
97.8
92.0
100.1
89.9
95.3
47.6
24.0
25.5
30.3
29.6
27.1
29.4
29.9
Defaulted (15 bonds)
do....
44.7
31.7
33.5
49.1
39.9
131.5
125.7
126.7
128.6
129.0
127.6
128.1
127.8
Domestic municipals (15 bonds)f
do
129.1
127.7
128.6
128.7
130.4
112.4
110.7
110.2
109.5
109.4
109.9
109.8
108.9
U. S. Treasury bonds
do
109.9
109.4
109.4
111.4
109.1
' Revised.
<» Less than $500,000.
i Trading suspended on all markets beginning June 27.
® Includes for January 1943 a Canadian Government issue of $90,000,000 and, for certain months, small amounts for nonprofit agencies, not shown separately.
1 Complete reports are now collected semiannually; data for Aus.-Nov. 1942 and Jan.-May 1943 are estimates based on reports for a small number of large firms.
§ Small amounts for "other corporate," not shown separately, are included in the total net proceeds, all corporate issues, above.
t Revised series. For an explanation of changes in the data on security issues compiled by the Securities and Exchange Commission and revised 1941 monthly averages
for selected series, see p. S-18 of the April 1943 Survey; data for 1942 have also been revised; all revisions prior to June 1942 are available on request. The price indexes for
domestic municipals are converted from yields to maturity, assuming a 4-percent coupon with 20 years to maturity instead of 3"H-percent coupon with 22 years to maturity,
as formerly; revised data beginning February 1942 are on p. S-19 of the April 1943 Survey; earlier data will be shown in a subsequent issue.
S-20
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
August 1943
1942
July
June
August
September
1943
October
Novem- December
ber
January
February
April
May
144, 737 134, 433 260,794
329,565 276,381 580, 038
214. 979
439, 701
216,442
429,012
132,378 122,202 243, S69
310, 531 259, 290 554, 858
197, 276
412,821
199,696
404, 339
169, 301 207,079 302,817 252, 254 497, 869
229
199
197
251
253
169,072 206,880 302, 566 252,001 497, 872
157,269 195, 834 290, 890 245, 656 481, 522
11,046
11, 676
6,345
1Q, 150
11,803
372, 722
257
372, 465
360, 470
11, 995
343, 226
316
342, 910
331,153
11, 757
72,812
69, 794
3,018
71,858
69, 709
2,149
81, 479
78,462
3,017
81, 049
78,880
2,169
March
FINANCE—Continued
SECURITY MARKETS—Continued
Bonds—Continued
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
tbous. of doL
Face value.
do
On New York Stock Exchange:
Market value
do...
Face value
do...
Exclusive of stopped sales'(N. Y. S. E.),
. face value, total
thous. of doL
XJ. S. Government
do._.
Other than U. S. Govt., total. ..do...
Domestic
do.-.
Foreign
do...
Value, issues listed on N. Y. S. E.:
Face value, all issues
__mil. of doL
Domestic
-do
Foreign
..do—
Market value, all issues
do—
Domestic
_.
--do
Foreign..
do—
Yields:
Bond Buyer:
Domestic municipals (20 cities) _..percent..
Moody's:
Domestic corporate
.do—
By ratings:
Aaa
do.
Aa
doA
do.
Baa
doBy groups:
Industrials-.
.do...
Public utilities...
_
.do...
Rails
do-..
Standard and Poor's Corporation:
Domestic municipals (15 bonds)
do...
U. S. Treasury bonds:
Partially tax-exempt
do...
Taxable*.
—
do...
!
83, 842 124,075 134, 771 98,513 114,943
173, 629 316, 526 303,128 207, 713 233,873
164,430
284,117
81,804
151,865
147,981
262, 596
71, 249 75, 610 112,301 122,448
142,932 162, 734 300, 306 285.683
133, 776 125,605 159,938 276,812 266,931
299
449
245
248
407
133, 369 125, 306 159,490 276, 567 266.684
124,676 119,068 152,418 268, 643 258,361
7,072
7,924
8,323
6,238
236, 099
400
235, 699
227,205
8,494
80,306
155, 111
72,623
139,586
80,999
77,984
3,015
80, 704
78, 525
2,179
61, 899
58,804
3,096
59,112
57,201
1,911
63,992
60,903
3,089
61,278
59,372
1,905
65, 277
62,198
3,079
62, 720
60, 796
1,924
65, 256
62,182
3,074
62, 766
60,830
1,936
1.86
2.21
2.15
2.15
87,421
192,439
101,549
214,320
72, 962
69,83Z
3,125
71, 346
69,159
2,188
67, 207
64,139
3,068
64,844
62,906
1,938
67,156
64,088
3,067
64, 544
62, 543
2,001
72,993
69,934
3,059
70.584
68,562
2,022
72,880
69,831
3,049
71,039
68,939
2,100
2.16
2.13
2.16
2.17
2.12
2.08
2.08
2.01
1.93
3.31
3.32
3.27
3.23
3.20
3.19
3.16
72, 856
69, 835
3, 021
71, 575
69, 433
2,142
3.14
3.37
3.35
3.34
3.33
3.31
2.72
2.85
3.11
3.88
2.85
3.01
3.31
4.33
2.83
2.99
3.28
4.30
2.81
2.99
3.27
4.28
2.80
2.98
3.26
4.26
2.80
2.95
3.24
4.24
2.79
2.94
3.24
4.25
2.81
2.96
3.23
4.28
2.79
2.93
3.20
4.16
2.77
2.89
3.17
4.08
2.76
2.88
3.14
4.01
2.76
2.88
3.14
3.96
2.74
2.87
3.13
3.91
2.84
2.98
3.61
2.97
3.12
4.03
2.94
3.09
4.02
2.94
3.09
3.98
2.95
3.08
3 95
2.94
3.07
3.92
2.93
3.06
3.93
2.94
3.07
3.96
2.90
3.05
3.86
2.88
3.02
3.78
2.87
3.00
3.73
2.87
3.01
3.69
2.86
3.00
3.64
2.07
2.38
2.32
2.28
2.25
2.22
2.20
2.26
2.27
2.22
2.21
2.20
2.13
1.85
2.29
1.97
2.33
2 00
2.34
2.02
2.34
2.03
2.34
2.05
2.33
2.06
2.34
2.09
2.36
2.06
2.32
2.06
2.32
2. 08
2.33
2.02
2.32
1.92
2.30
Stocks
Cash dividend payments and rates (Moody's)
Total annual payments at current rates (600
companies)
mil. of doL. 1,694.13 1, 675.01 1, 675.81 1, 646.14 1, 643. 75 1,645.97 1, 647. 36 1, 677. 20 1, 682. 83 1, 686. 26
938.08 938.08
938.08 938.08
938.08
942. 70 942. 70 942. 70
Number of shares, adjusted
millions.. 942.70
Dividend rate per share (weighted average)
1.75
1.75
1.79
1.79
1.75
1.79
1.76
1.78
1.79
1.79
(600 companies)
dollars..
2.81
2.81
2.81
2.81
2.81
2.81
2.82
2.82
Banks (21 cos.)
do
2.82
2.82
1.71
1.70
1.76
1.75
1.70
1.69
1.71
1.73
Industrials (492 cos.)
do
1.71
1.72
2.69
2.69
2.69
2.69
2.69
2.69
2.64
2.74
Insurance (21 cos.)
do
2.64
2.64
1.74
1.73
1.74
1.74
1.73
1.74
1.75
1.74
Public utilities (30 c o s . ) . . .
do
1.75
1.75
1.75
1.85
1.66
1.75
1.79
1.96
2.12
2.13
Rails (36 cos.)
do
2.12
2.16
Dividend payments, by industry groups:*
411.9
Total dividend payments
mil. of doL
236.4
Manufacturing
do..._
26.9
Mining
„
do
25.1
Trade
-do
27.8
Finance
do
34.8
Railroads
do
35.6
Heat, light, and power
do
15.1
Communications
do
10.2
Miscellaneous
-do
Prices:
Average price of all listed shares (N. Y. S. E.)
66.3
Dec. 31, 1924= 100-.
Dow-Jones & Co., Inc. (65 stocks)
48.67
dol. per share. .
141.25
Industrials (30 stocks)
do
20.35
Public utilities (15 stocks)
do
35.84
Rails (20 stocks)
do
98.78
New York Times (50 stocks)
do
Industrials (25 stocks)
d o . . . . 169.86
27.87
Railroads (25 stocks)
do
Standard and Poor's Corporation:
96.7
Combined index (402 stocks)_ 1935-39 =100..
99.3
Industrials (35-4 stocks)
do
93.3
Capital goods (116 stocks)
do
98.8
Consumer's goods (191 s t o c k s ) . _ . d o . . . .
84.7
Public utilities (28 s t o c k s ) . . . .
do____
94.3
Rails (20 stocks)
do
Other issues:
92.6
Bank", N . Y. C. (19 stocks)
do
Fire and marine insurance (18 stocks)
118.9
1935-39=100..
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
thous. of dol__ 851,107
, Shares sold
thousands.. 44, 248
On New York Stock Exchange:
Market value
thous. of d o L . 715, 329
Shares sold
t h o u s a n d s . . 32, 704
Exclusive of odd lot and stopped sales
(N. Y. Times)
thousands. _ 23, 416
Shares listed, N . Y . S. E . :
Market value, all listed shares
mil. of dol__ 48,877
1,469
Number of shares listed
.
millions. _
390.5
219.5
29.7
25.5
26.2
29.9
36.7
14.3
8.7
340.5
142.9
3.3
15.7
74.2
11.7
40.2
46.9
5.6
143.4
67.0
3.1
3.2
26.6
8.0
34.3
.1
1.1
318.1
189.5
25.3
25.4
21.0
9.3
27.8
12.5
7.3
296.8
128.1
5.0
15.4
47.7
12.2
36.9
46.5
5.0
155.7
101.6
3.5
3.8
8.3
3.4
32.1
.2
2.8
370.0
55.6
44.5
53.9
64.2
47.2
13.6
27.8
282.2
91.9
1.7
16.2
73.4
16.7
33.7
46.0
2.6
142.0
61.6
.8
5.9
28.1
7.1
36.4
.1
2.0
942. 70
1, 683. 92 1, 694.13
942. 70
942. 70
1.78
2.82
1.71
2.64
1.74
2.18
1.79
2.82
1.71
2.64
1.74
2.18
1.80
2.82
1.73
2.64
1.74
2.13
320. 4
198. 7
23.4
22.1
16.3
12.2
29.8
9.6
8.3
292.0
124.5
3.0
14.9
46.0
17.0
34.8
4(5. 6
5.2
115.0
64.7
.9
3.6
7.9
1.3
35.0
.1
1.5
45.3
46.6
47.2
48.2
51.1
50.6
52.6
56.1
59.0
62. 1
62.6
65.6
34. 20
103. 75
11.93
23.59
71.07
125. 05
17.10
35. 54
106.94
11.75
25.63
78.26
129. 42
18.71
35.46
106.08
11.51
26.19
73.10
126.93
19.26
36.00
107. 41
11.76
26. 76
74.40
128. 65
20.16
38.37
113.51
13.35
28.65
79.06
136. 56
21.55
38.81
115.31
14.16
28. 13
80.13
139. 23
21.03
38.81
117.16
14.02
26.83
81. 51
142.86
20.18
40.73
121.52
15.57
28. 59
84.67
147. 75
21.59
42.78
127.40
16.87
29. 80
88.18
153.76
22.61
44. 64
131. 15
17. 5S
32.47
91.13
157. 00
46. 37
131.13
19.00
34. 73
92. 79
158. 43
27. 16
18.19
138.60
20. 13
36. 43
96. 83
165. 21
28. 46
66.1
68.2
69.0
67.6
58. 8
59.0
68.2
70.6
7.1. 5
69.2
58.4
62.9
68.3
70.5
71.0
68.9
58.8
65.4
69.4
71.6
71.8
69.6
59.5
66.7
74.2
76.5
77.6
72.7
63.7
72.7
75.2
77.2
77.3
74.1
66.2
73.0
75.9
78.5
77.7
75.8
G5.2
69.3
79.7
82.3
81.1
79.7
69.3
73.7
84.8
87.7
83.1
84.8
73.3
77.5
88.,2
90.8
89.0
87.4
76. 2
86. 4
91.3
93.7
90.1
90. 9
79.1
92.8
95.2
97 2
92.'5
94.9
34.0
97.5
66.3
67.9
70.5
74.1
75.7
73.1
74.2
77.9
84.7
89. 7
92.6
91.5
97.2
98.5
98.5
100.6
104.7
104.4
104.9
108.4
111.0
112. 7
114.8
115.6
253,211 284,995 465,937 411,312
12, 553 15, 381 24, 753 22,053
629,403
33, 651
273, 279 302,181
12,838 J 14,033
232, 947 258, 535 214, 217 241, 517 400,475 352, 283 536, 509
9,932
9,489
10,964
11, 903 19, 610 17,310 25,160
7,466
8,374
7,387
9,450
15,933
13,437
19,313
507, 440 614, 765 996, 931 1,012,679 970, 7S7
62,040
28,067 38, 457 63,006 58, 703
432, 974 527, 643 861,091 869, 343
21, 682 29, 388 48, 026 44, 673
18,032
24, 434
36, 997
33, 554
823, 352
44, 948
35,052
34,872
35, 605 37,738
37,374 38, 812
33, 419 34,444
41,411
43, 539 45, 846 46,192
48, 438
1,471
1,471 I 1,471 1,471
1,471
1,471
1,470
1,469
1,470
1,469
1,470
1,470
*New series. The new bond series represents the average yield of taxable Treasury bonds (interest subject to both the normal and surtax rates of the Federal income
tax) neither due nor callable for 12 years; this average started Oct. 20, 1941, following the issuance of the second series of such bonds; the 2^-percent bonds of 1962-67, 2^-percent bonds of 1963-68, and 2J^-percent bonds of 1964-69 are excluded because of restrictions on their purchase and negotiability. The series on dividend payments has been
revised because of certain shifts in the industrial classifications, principally a shift of leased railroad lines from "railroads" to the "finance" group. Revised data prior to
March 1942 (figures beginning March 1942 are in the May 1943 Survey) will be published later. For a description of the data see pp. 26-28 of the November 1942 Survey.
S-21
SUEVEY OF CURRENT BUSINESS
August 1943
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the
June
1942 Supplement to the Survey
1942
June
July
August
September
1943
October
Novem- December
ber
January
February
March
April
May
FIN AN CE—Continued
SECURITY MARKETS—Continued
Stocks—Continued
Yields:
Common stocks (200), Moody's
percent..
Banks (15 stocks)
do
Industrials (125 stocks)
do
Insurance (10 stocks)
do
Public utilities (25 stocks)
do .
Rails (25 stocks)
do
Preferred stocks, high-grade (15 stocks),
Standard and Poor's Corp.
percent- _
4.5
3.9
43
3.9
5.4
6.4
6.6
5.6
6.4
4.8
8.4
7.8
6.4
5.5
6.1
4.7
8.2
7.7
6.3
51
6.0
4 7
8.0
7.5
6.1
4 9
5.8
45
7.9
7.3
5.8
5.0
5.5
4 4
7.2
7.0
5.9
52
5.5
45
7.1
8.0
5.7
5.0
5.3
42
7.2
8.6
5.4
4.5
5.0
41
6.8
7.9
5.1
4.4
4.7
4.1
6.3
7.3
4.8
4 0
4.5
39
6.2
6.8
4.8
4.1
4.5
39
5.8
6.6
4.6
4.0
4.3
3.8
5.5
6.2
4.03
4.40
4.32
4.27
4.27
4.23
4.23
4.19
4.17
4.10
4.08
4.08
4.07
Stockholders (Common Stock)
American Tel. & Tel. Co., total
number.^ 647, 040
5,119
Foreign
do
Pennsylvania R. R. Co., total
____do
Foreign
do
U. S. Steel Corporation, total
d o . . . 163, 803
2,586
Foreign
do
25.15
Shares held by brokers
percent of total..
639,152
5,214
205, 259
1 374
164, 039
2,580
24.90
641,301
5,184
205,405
1 367
163,754
2,577
24.88
645, 084
5,150
207 541
1 354
163, 586
2,573
25 20
642,631
5,159
205, 965
1 360
163, 296
2,577
25 45
FOREIGN TRADE
INDEXES
Exports of U. S. merchandise:
183
195
Quantity
1923-25=100.
268
168
165
Value
do
89
Unit value...
..
do.._
86
Imports for consumption:
Quantity
_
_
do.._
86
86
95
63
66
Value
.
_
do
73
76
Unit value.
__. d o . . .
VALUE*
Exports, total incl. reexports
thous, of doL. 1,004,278 618.092 626, 806
Exports of U. S. merchandise _. _ do . 998, 200 612,699 621, 895
307. 463 '214,917 ' 214,367
General imports
do
302, 239 205,024 210, 257
Imports for consumption
do
199
185
93
215
191
89
225
206
92
208
200
96
241
226
94
186
180
246
303
285
78
57
74
84
62
74
95
70
74
79
59
74
166
127
76
77
77
83
86
89
694,466 ' 718,179
688,124 ' 712,128
184,432 195,689
191,759 199, 221
776,036
768, 912
199,392
224,012
749,623
743, 806
173,745
193, 555
853, 226 ' 698,813 ' 676,726 ' 926,893 '1,139,709 1,069,449
844, 994 ' 692,527 ' 669,007 '912,437 '1,126,956 1,060,732
356,280 228,388 234, 293 248,470 265, 856 280,883
405,345 245,827 245, 288 263,171 275, 711 284,959
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Commodity and Passenger*
Unadjusted indexes:
Combined index, all types
1935-39=100..
'202
207
211
203
187
203
196
180
185
193
191
207
'213
191
Excluding local transit lines.
do
218
209
206
211
203
186
192
201
196
197
'194
178
201
195
195
202
192
179
184
Commodity
do
190
181
217
241
228
Passenger..
.do
243
230
207
207
209
181
189
202
226
286
'335
304
Excluding local transit lines.
do
341
311
286
276
284
233
255
284
302
By types of transportation:
319
Air, combined index
_
do
395
'419
'377
351
302
'379
323
337
343
287
326
M45
523
' 568
'515
474
431
349
Commodity
..do
406
438
324
372
r 515
236
Passenger
do
224
310
301
263
270
296
320
270
298
Intercity motor bus and truck, combined
222
index
1935-39=100..
'220
'209
226
223
226
224
218
191
201
220
217
' 213
216
224
For-hire truck
do
207
214
218
'202
216
180
211
185
200
244
240
235
Motor bus
do
276
'264
232
243
227
273
227
250
252
165
162
149
Local transit lines
do
134
162
163
160
162
137
142
147
134
163
134
156
141
145
158
163
155
1C0
129
152
Oil and gas pipe lines....
do
132
229
218
224
212
230
Railroads, combined index
do
240
235
211
234
202
221
209
215
209
214
195
221
222
217
197
216
198
209
Commodity
do....
203
336
289
304
339
296
Passenger
do
377
'372
317
347
234
314
256
'34
84
81
42
77
'47
29
' 35
86
65
Waterborne (domestic), commodity-.do
85
Adjusted indexes:
194
184
195
' 208
'209
190
Combined index, all types
do
214
194
177
214
187
195
189
216
200
197
Excluding local transit lines
.-do
'217
183
200
222
192
202
222
202
183
186
200
187
Commodity
do
178
203
201
185
191
187
204
187
185
235
224
203
Passenger
do
175
237
250
218
194
210
245
218
229
326
271
Excluding local transit lines
do
'302
219
'335
248
285
295
358
351
307
By type of transportation:
407
Air, combined index
do
'406
'376
261
356
287
'381
382
348
313
323
372
Commodity
do
'560
520
481
'497
316
451
325
518
454
407
421
Passenger
.
do
'304
'306
'304
332
225
293
236
292
277
251
258
245
Intercity motor bus and truck, combined
235
226
211
index
.._ 1935-39=100.
184
196
234
201
233
238
226
210
198
212
219
For-hire truck
do
189
225
208
178
207
219
225
196
201
209
271
Motor bus
_
do
211
289
232
282
285
291
245
207
216
227
247
159
149
154
Local transit lines
do
160
157
159
156
149
145
139
147
147
148
140
150
154
'160
161
Oil and gas pipe lines..
do
142
150
151
135
146
149
214
208
214
246
243
236
211
Railroads
do____
234
221
202
216
221
201
204
199
220
224
226
205
220
Commodity..
do
205
199
206
210
318
238
328
397
364
264
Passenger
do
345
340
225
294
307
'66
64
66
63
62
'71
57
Waterborne (domestic), commodity-.do
66
61
57
Express Operations
14, 773 18,071
14, 295 14, 306 15, 363 15,803
12,168 12,170
12,106 12, 922 13,319
Operating revenue..
thous. ofdol.
16,084
67
153
145
157
53
Operating income
...do.
77
56
72
76
78
Local Transit Lines
Fares, average, cash rate
cents,. 7.8032 7. 8060 7.8060 7.8060 7. 8060 7.8060 7.8060 7.8060 7. 8060 7. 8060
'7.8032
7.8060 7.S
Passengers carried§
thousands.. 1,259,983 1,023,544 1,033,348 1,037,054 1,059,727 1,152,868 1,100,451 1,254,329 1,239,428 1,147,971 1,254,163 11,220,211 l,247,526i
Operating revenues.
thous. of dol..
76,494 77,400 78,399
78,782 85, 257 81,356 94,248 93, 600 87, 326 93, 720 I 92, 325 93, 371
• R P vised.
X For revised 1941 monthly averages, see note 2 on p. S-20 of the April 1943 Survey; revised monthly data available on request. The December 1942figuresare overstated
owing to the inclusion of an unusually large volume of goods actually exported and imported in earlier months. Similarly, the April 1943 export figures include shipments^
valued at $160,000,000 which were actually exported in January-March.
§For 1941 figures revised to cover the same companies as for 1942, see note marked " t " o n P- S-21 of the April 1943 Survey.
*New series. For data beginning 1929 for the transportation indexes see pp. 26 and 27, table 5, of the May 1943 issue.
S-22
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, to- 1 9 4 3
gether with explanatory notes and references
to the sources of the data, may be found in the
June
1942 Supplement to the Survey
August 1943
1943
June
July
August I September
1943
Octo- | Novem- Decem- ' Januber j ber
ber ; ary
Febru-
March j April
May
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION-Continued
Class I Steam Railways
Freight carloadings (Federal Reserve indexes):
152
132
139
142
144
150
140
130
124
130
132
126
137
Combined index, unadjusted.__ 1935-39=100.
100
135
132
136
142
139
144
138
135
145
133
132
132
Coal
do...
162
179
177
175
184
186
189
180
193
189
183
193
179
Coke
do__.
145
165
173
173
138
133
158 !
117
129
138
167
122
143
Forest products
do._.
140
111
138
129
123
131
139
138
142
124
139 !
130
123
Grains and grain products
do___
86
81
76
100
144
92
98
90
105
169
135
113
101
Livestock
do.. _
63
60
57
62
55
58
58
59
56
57
63
57
62
Merehandise, 1. c. 1
do--_
297
318
325
56
50
48
260
206
59
304
106
308
269
Ore
do__146
145
148
138
132
137
163
150
135
162
143
152
I
145
Miscellaneous
do. - 133
141
142
136
135
141
133
134
134
136
141
143 |
141
Combined index, adjusted
do.. .
119
160
155
140
119
127
121
125
116
135
158
154
156
Coal
do.-.
180
199
205
182
161
154
180
176
177
188
208
208
195
Coke
do_-_
140
159
172
133
130
135
149
140
137
154
138
165
138
Forest products
do.. _
143
113
95
152
157
170
130
126
143
126
145
106
144
Grains and grain products
do_._
110
103
90
117
102
113
110
114
117
102
118
106
I
112
Livestock
do_ _.
63
60
57
61
61
55
56
62
62
57
58
Merchandise, 1. c. 1
do...
59
57
171
183
180
216
193
174
221
209
209
176
221
210
202
Ore
do__.
144
144
149
141
153
146
144
142
143
152
144
146
149
Miscellaneous
do...
Freight carloadings (A. A. R.): ^
4,512
3, 386
3,504
3, 322
3, 073
3,151
4,351
3,236
2,834
3,531
3,056
3,136
4,150
Total cars
thousands.
661
605
661
825
649
705
706
457
837
666
792
Coal
do...
612
790
54
69
50
56
71
60
59
'56
57
60
71
Coke
do._57
75
203
270
199
244
160
169
176
••205
164
164
221
Forest products
do.. _
148
172
194
228
188
247
203
173
189
154
168
187
222
Grains and grain products
do.. .
176
237
40
68
71
118
48
45
78
51
52
58
72
Livestock
do._63
66
449
460
386
378
346
347
356
370
389
397
488
Merchandise, 1. c. 1
do...
340
421
329 r 359
363
440
373
230
63
336
55
364
95
Ore
do._.
66
71
2,162
1,452
1, 527
2,001
1,534
1,453
1,515
1,517
1,647
1,519
Miscellaneous,.
do...
1,920
1,371
1,698
35
82
59
30
53
41
72
71
43
35
Freight-car surplus, total
do__.
49
68
67
15
55
17
28
18
40
28
19
16
Box cars
do...
46
21
35
35
5
14
7
34
4
9
Coal cars
do...
5
7
20
20
Financial operations:
Operating revenues, total
thous. of dol. 747,365 623, 687 665,182 683, 807 697, 792 745, 584 690,108 702,995 671. 334 663, 534 756, 251 748, 798 759,331
Freight
do.._ 549,134 501, 343 533,086 537, 412 546,791 587, 612 534, 762 531,918 514,316 513,191 585, 252 570,136 573, 788
Passenger
do__. 147, 294 82, 268 91, 939 103, 463 104,971 108,322 108,060 119,151 111,725 107, 224 121,448 127,915 133, 581
Operating expenses
do__. 451, 946 378,472 390, 477 399,292 399, 706 416, 430 406, 389 431, 873 424, 201 408, 459 449,440 442,149 454, 362
Taxes, joint facility and equip, rents. __dO-_. 185,764 126,477 141,703 149,250 143, 455 144, 439 134, 770 100, 271 141, 829 148,942 177,163 179, 590 176,800
Net railway operating income
do___ 109, 655 118, 738 133,001 135, 264 154, 632 184, 715 148,949 170,851 105,304 106,133 129, 647 127,059 128,169
84, 651 r 82,901 85, 732
70, 900 77, 691 89, 632 89, 243 105,190 135, 538 111,310 137,101
Net income
do___
62, 980 61,819
Operating results:
57, 304 60, 713 62,405
61, 934 66, 019 60,464
Freight carried 1 mile
mil. of tons_
58, 929 58,102 64, 686 62, 947 66, 528
58,356
.931
.917
.941
.946
.943
.956
.936
.939
.966
Revenue per ton-mile
cents.
.967
.934
5,395
4,238
5,500
5,508
6,482
4,765
5,663
5,668
Passengers carried 1 mile
millions6,715
6,314
5,914
Financial operations, adjusted:
627.4
662.6
642.8
668.9
660.8
722.5
710.4
739.9
743.7
Operating revenues, total
mil. of dol..
708.4
766.7
783.0
508.6
517.9
519.4
534.2
501.9
553.5
560.4
576.1
Freight
do.__
578.4
587.3
551.0
553.8
79.4
100.4
113. 0
120.4
129.5
82.0
92.3
117.6
Passenger
do...
138.0
145. 6
109.2
107.5
499.5
534.7
533.3
563.2
615.9
518.7
539.3
591.0
Railway expenses
do.__
623.1
623.8
553.6
576.6
127.9
127.9
127.5
159.3
124.0
124.0
129. 5
152.8
Net railway operating income
do...
143.6
159.2
154.9
133.8
81.8
84.2
120.3
' 81.5 r 101. 5
79.2
111.2
Net income
do...
84.6
116.7
109.3
92.0
Waterway Traffic
462
544
584
461
Canals, New York State..thous. of short tons..
436
451
0
0
0
0
225
Rivers, Mississippi (Gov. barges only)..do
247
196
222
140
101
125
257
186
103
98
Travel
Operations on scheduled air lines:
Miles
flown
thous. of miles__
7,353
8,451
7,585
8,079
7,777
7,292
7,508
8,127
8,408
8,323
4,375
Express carried
thous. of lb._
3,097
3,619
3,534
3,927
3,974
4,320
4,816
4,341
4,549
3,634
3,600
Passengers carried
number..
240, 916 262, 715 283.145 273,022 273,162 240, 705 202, 623 208, 380 233, 049 265,175 280,914 282,103
Passenger-miles
flown
thous. of miles..
109, 253 116,104 127, 393 125, 327 128, 329 112, 488 96,308 101,411 110, 983 124, 256 132, 985 133, 267
Hotels:
3.43
Average sale per occupied room
dollars..
3.70
3.45
3.74
3.70
3.73
3.79
3.66
3.56
3.86
3.56
3.60
3.55
Rooms occupied
percent of total -.
84
71
78
80
69
75
79
82
83
83
85
74
81
Restaurant sales index
1929=100174
134
135
128
136
156
125
143
137
140
162
132
131
Foreign travel:
U. S. citizens, arrivals
number. _
7,459
7,474
7,285
9,263
7,031
10,393
7,902
6,442
6,969
8,995
U. S. citizens, departures
do
5,147
4,935
5,005
4,400
5,190
5,077
5,527
5,178
5,152
4,879
E migrants
do
585
344
423
419
463
480
563
336
460
398
Immigrants
do
2,593
2,195
1,932
2,336
1,504
2,147
1,915
1,815
1,837
1,782
9,564 16, 244 15, 042 11,635
Passports issuedcf
do
19,128
12, 772 10, 334
14, 667 11,173
12,178
8,247 11, 628 12,679
National parks, visitors
do
67, 345 221,658 342, 043 330, 540 210,020
76, 659 51, 976 11, 865 13, 211 14, 638 17, 751 32, 270 45, 660
Pullman Co.:
Revenue passenger-miles
thousands. _
,496,048 1,471,500 1,843,326 1,925,459 1,961,986 1,906,714 1,869,952 2,036,175 1,849,643 2,091,358 2,126,103 2,105,321
8,509
10,169
Passenger revenues
thous. of dol..
8,903
10,444
10, 052 10,080
11, 511 11, 627 11, 797
11,018 10,151
COMMUNICATIONS
Telephone carriers: t
134, 216 135, 652 135, 328 138,015 142, 864 140, 447 146, 483 146, 688 142, 578 150, 342 147, 946
Operating revenues
thous. of dol__
80, 078 79, 415 78, 897 80, 413 82, 507 81, 576 82, 891 83, 610 82,425
Station revenues
do
85, 287 84, 941
42, 379 44, 579 44, 666 45, 680 48,161
Tolls, message
do
46, 566 50, 766 50, 274 48, 286
53,122
51,144
Operating expenses
do
85, 542 89, 370 86, 439 87, 832 89, 260 87, 940 97,411
93, 783 92, 897
90, 310 87, 591
21, 339 22, 632 22, 846 20, 337 24, 310 21, 588 21,197 21, 298
Net operating income
do
22,167
21, 090 21, 009
21, 941 22, 048 22,146
Phones in service, end of month__thousandS-.
23,124
21,888
23, 285
22, 284 22, 400 22, 544 22, 835 22, 947
Telegraph and cable carriers:
Operating revenues, total
thous. of dol..
14, 398 14, 375 14, 282 14, 617 14, 956 14, 250 15, 970 i 14, 253 i 13, 663 i 15, 768 i 16, 023
Telegraph carriers, total
do
13,151
13, 296 13, 254 13, 600 13,875
13,151
14, 667 i 13,138 i 12, 729 i 14, 677 i 14, 766
Western Union Telegraph Co., revenues
1
from cable operations
thous. of dol..
678
709
755
712
819
863
1894
1,104
i 906
793
1933
Cable carriers
do
1,248
1,018
1,080
1,082
1,099
1,028
i 1,091 i 1, 257
1934
1,303 i 1,115
11,912
11, 718 11, 967 11, 932
12,179
11,625
Operating expenses
do
13,182 i 11, 762 i 11,111 i 12,165 i 12,101
1,384
1,336
1,237
Net operating revenues
do
1,216
i 1, 672 i 1, 951
958
1,031
1618
1,927
i 535
Net income trans, to earned surplus
do
454
501
946
658
742
824
947
d 199
812
787
Radiotelegraph carriers, operating revenues
thous. of dol
1,204
993
961
998
1,092 !
999 i
1,007
1,184
1,094
1,095
d
*• Revised.
Deficit.
^Includes passports to American seamen.
1 Data for August and October 1942, January and May 1943 are for 5 weeks; other months, 4 weeks.
X
Data
for
3
companies
operating
outside of United States, included in original reports for 1943, are excluded to have all figures cover the same companies.
1
Owing to changes in accounting system, 1943 figures are not comparable with earlier data above; available 1942 data on new basis are as follows: Operating revenuestotal, Jan., 13,083; Feb., 11,952; Mar., 13,339; Apr., 13,916; telegraph carriers, Jan., 11,914; Feb., 10,980; Mar., 12,191; Apr., 12,803; Western Union cable operations, Jan., 620;
Feb., 565; Mar., 663; Apr., 661; cable carriers, Jan., 1,169; Feb., 972; Mar., 1,148; Apr., 1,113; operating expenses (no comparable data); net operating revenues—Jan., 886; Feb.,
667; Mar., 1,393; Apr., 1,656; 1942 data shown above for the latter item are operating income.
S-23
SURVEY OF CURRENT BUSINESS
August 1943
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the
June
1942 Supplement to the Survey
1942
June
July
August
1943
September
October
Novem- December
ber
January
February
March
April
May
0.62
.28
38,588
0.63
.28
36,154
16.50
16. 50
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Methanol, prices, wholesale:
0.58 I
0.58
Wood, refined (N. Y.)
dol. per gallon..
0.63
0.58
.28
.28
Synthetic, pure, f. o. b. works
do
.28
Explosives, shipments
thous. of lb_. 36, 853 42,101
Sulphur production (quarterly):
Louisiana
- -long tons.. 172, 935 163, 810
774, 706
Texas
do
Sulfuric acid, price, wholesale, 66°, at works
16.50
16.50
16.50
dol. per short ton_.
16.50
FERTILIZERS
Consumption, Southern States
66
148
70
thous. of short tons_.
117
Price, wholesale, nitrate of soda, crude,
1.650
1.650
1.650
1.650
f. o. b. cars, port warehouses*._dol. per cwt..
62,959
59,224
59, 371
Potash deliveries
short tons..
Superphosphate (bulk):f
U5, 603 501,592
Production
do
915,172 1,067,747 1,070,785
Stocks, end of month.
do
NAVAL STORES
Rosin, gum:
Price, wholesale " H " (Savannah), bulk
3.55
2.95
dol. per cwt_.
21,686
Receipts, net,3ports
bbl. (5001b.).. 19,719
246,127 237,420
Stocks, 3 ports, end of month
do
Turpentine, gum, spirits of:
.66
.57
Price, wholesale (Savannah)f..-dol. per gal..
10, 508
8,021
Receipts, net, 3 ports
bbl. (50 gal.).
66, 518
22,817
Stocks, 3 ports, end of month
do
OILS, FATS, AND BYPRODUCTS
Animal, including fish oils:
Animal fats:t
379,256
Consumption, factory
thous. of lb_.
699,673
Production
do
Stocks, end of month
do
365,870
Greases:t
135,020
Consumption, factory
do
141,187
Production
do
102,044
Stocks, end of month
do
Fish oils:J
Consumption, factory
__do.__
i 42, 798
Production.
„
..do
Ul,713
Stocks, end of month.
do
160, 540
Vegetable oils, total :t
1744
Consumption, crude, factory
mil. of lb_.
Production
do
1710
Stocks, end of month:
i
761
Crude
do
1521
Refined
do
Coconut or copra oil:
Consumption, factory:t
i 35,085
Crude
thous. of lb_
i 12, 995
Refined
do
Production:
i 17, 740
Crudet
do
i 13,512
Refined
do
Stocks, end of month:%
i 126,087
Crude
do
Refined
do
i 10,017
Cottonseed:
92
Consumption (crush)
thous. of short tons.
18
Receipts at mills
do
25
103
Stocks at mills, end of month
do
118
Cottonseed cake and meal:
Production
short tons.. 41, 642
38,825
29,629 249,452
Stocks at mills, end of month
do
Cottonseed oil, crude:
27,866
Production
thous. of lb.. 30,364
41, 523
49,901
Stocks, end of month
do
Cottonseed oil, refined:
232, 482
Consumption, factory %
do
10, 352
In oleomargarine
do
Price, wholesale, summer, yellow, prime
.140
.138
(N. Y.)
dol. per lb.
49,797
53, 735
Production
thous. of lb.
239,462 369, 205
Stocks, end of month
do
Flaxseed:
Duluth:
252
129
Receipts
thous. of bu.
547
233
Shipments
do
532
Stocks
do
423
Minneapolis:
633
Receipts
do
117
Shipments
do
130
Stocks
do....
97
826
1
0.58
.28
42, 571
0. 58
0. 58
.28
.28
41,407 I 41,477
148, 570
739, 665
16.50
0.58
.28
30, 626
0.58
.28
33,392
0.58
.28
35, 282
139, 505
525,106
147,850
645,380
16.50
16.50
0.58,
.28
39,337
16.50
16.50
16.50
16.50
169
200
221
340
1,006
1,325
1,281
800
387
1.650
56,439
1.650
59,846
1.650
54,855
1.650
67,876
1.650
61,637
1.650
56, 586
1.650
64,616
1.650
61,310
1.650
32, 543
574, 721 554,067 547, 576 571,369 577,842 577, 281
1,296,529 1,271,890 1,197,472 1,148,688 1,143,446 1,025,992
611, 773
843, 764
560, 346
610, 744
585,937
591,127
3.10
26,872
229,436
2.91
35,415
245,937
3.30
24,713
250,079
3.50
18,922
263, 434
3.46
19,432
267,144
3.43
20,108
277,546
3.50
7,817
276, 791
3.48
7,728
265, 912
3.57
7,572
251,799
3.50
13, 437
253,134
3.54
17,992
249,087
.58
11,466
32,164
.55
10,421
39,821
.60
9,290
45, 705
.64
6,474
49,525
.64
6,047
51,913
.64
6,806
55,900
.64
2,102
57, 627
.63
1,105
55,071
.64
1,548
51,321
.64
5,892
54,095
.63
8,035
58,481
104,890
247,889
393,452
120, 265
213,963
368, 527
137,997
220,217
311, 526
136, 624
223,747
289,743
108, 682
255,989
286, 358
114, 466
290, 597
306,055
114,315
263,560
295, 350
110,671
237, 931
118,521
210,021
290,458
111,060
223,448
308,448
100,668
276, 540
307,190
39,945
46,259
106,004
46, 245
41, 313
107,787
42, 549
42,086
104,028
51, 239
45,084
96,432
41,333
45,693
104,916
44,716
50,942
108,570
49,935
45,599
107,104
57, 593
45,136
96, 683
61,067
45,023
87,460
59,857
46,031
81,186
61,158
47,807
81, 770
16,067
10,342
162,869
14, 570
27, 575
178,219
15,319
27,291
178,247
14,496
20,895
207,131
11, 568
23,845
208, 237
16, 549
15,373
215, 619
13,164
6,420
204,804
13, 890
4,304
204,704
12,483
736
197,053
15, 326
1,169
195, 551
21,965
2,637
177,148
210
214
212
212
266
333
342
432
355
419
362
416
332
402
339
359
344
352
313
321
276
274
729
458
726
373
764
312
834
299
354
914
407
922
438
438
967
446
923
445
880
423
9,316
3,294
10,026
5,218
7,352
2,742
8,058
2,259
7,639
2,151
7,442
3,900
6,132
3,922
7,117
3,423
7,422
3,859
7,308
3,690
9,691
5,019
()
3,715
4,289
1,822
9,111
2,370
5,208
2,684
7,472
4,293
8,362
2,675
8,924
3,434
17,712
3,068
14,951
3,454
14,671
3,481
129, 703
9,325
128,602
6,988
121, 262
8,141
126, 739
7,243
138,142
7,243
134, 971
6,415
136,684
5,109
146,491
4,732
161,712
4,188
174, 833
4,149
188,423
4,447
64
28
82
93
157
145
529
1,085
701
738
1,635
1,598
714
833
1,714
652
340
1,401
528
178
1,049
397
107
759
332
61
483
213
28
298
147
25
177
32,083
190,100
40,845
133,495
224, 921
146, 533
330, 025
134,136
317, 338
117, 778
291,922
92,672
234, 952
75, 866
176, 317
58, 800
146,393
39,853
93,988
37,431
67, 569
36,258
21, 532
34, 460
28,233
27,907
161, 748
90,601
133, 726
217,103
157, 849
200, 882
157, 212
165,824
153, 873
123,138
140, 655
104,833
116, 640
68, 247
89, 472
47, 231
65,880
90,054
10, 400
99, 522
11,312
129, 952
13,487
135, 377
15, 612
119,374
19,126
137, 469
21,035
132, 710
30,050
145, 702
26,132
134, 575
25,187
112, 241
15, 624
93,763
9,917
.140
36, 328
310,191
.139
32,942
230, 569
.136
80, 512
199,396
.137
169,490
201,427
.140
181,960
254, 713
.140
185,433
300, 519
.140
151,406
327,618
.140
134, 595
318, 380
.140
119,766
318,303
.140
89,836
299,847
.140
65, 677
266, 557
241
566
98
517
236
379
2,438
750
2,066
2,646
2,398
2,304
828
1,695
1,437
366
24
0
940
24
2
963
10
0
972
104
173
904
252
329
827
447
164
468
5,438
483
835
5,678
465
2,734
5,564
554
2,780
1,320
252
2,535
744
110
2,269
581
186
1,865
627
165
1,265
305
871
1,311
113
868
813
333
412
()
()
a
Quarterly data. Data compiled monthly beginning July 1942.
Not available.
•Price of crude sodium nitrate in 100-pound bags, f. o. b. cars, Atlantic, Gulf, and Pacific port warehouses. This series has been substituted beginning 1935 for the series
shown in the 1940 Supplement; figures for August 1937 to December 1941 are the same as published in the Supplement; for data for 1935-36 and all months of 1937, see note
marked " • " on p. S-23 of the May 1943 Survey. Prices are quoted per ton and have been converted to price per bag.
JData for the indicated series on oils and fats revised for 1941; revisions for fish oils are shown in note marked " t " on p. S-22 of the April 1943 Survey; revisions for all other
series were minor and are available on request.
fRevised series. The turpentine price shown beginning with the April 1943 Survey is the bulk price; data shown in earlier issues represented price for turpentine in
barrels and can be converted to a comparable basis with the current data by deducting 6 cents. Superphosphate is reported on a revised basis beginning September 1942,
covering all known manufacturers of superphosphate, including Tennessee Valley Authority; the new series include all grades, normal, concentrated, and wet base, converted
to a basis of 18 percent available phosphoric acid. Earlier data include normal and concentrated superphosphate as reported by concerns which for 1939 and earlier years
accounted for about 95 percent of the value of superphosphate produced, exclusive of T. V. A. production, according to Biennial Census data; it is estimated that this earlier
series represented approximately 94 percent of the total production, including T. V. A., for 1935, 93 percent for 1937, and 89 percent for 1939. The coverage declined to around
83 percent by the latter part of 1942, on the basis of comparisons with the new data. Data are shown on an 18 percent, A. P. A. basis; data in the Survey prior to the June
1943 issue are on a 16 percent basis and can be converted to 18 percent by multiplying by 0.8889.
S-24
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
1943
August 1943
1943
June
June
July
August
September
1943
October
Novem- December
ber
January
February
March
April
May
CHEMICALS AND ALLIED PRODUCTS—Continued
OILS, FATS, AND BYPRODUCTS—Con.
Flaxseed—Continued.
Oil in ills :?
Consumption
thous. of bu_
Stoeks. end of month...
do...
Price, wholesale, No. 1 (Mpls.)_.dol. per bu_
Production (crop estimate)
thous. of bu.
Linseed cake and meal:
Shipments from Minneapolis
thous. of 1b.
Linseed oil:
Consumption, factory?
do...
Price, wholesale (N. Y.)
dol. per 1b.
Production?
thous. of lb.
Shipments from Minneapolis
do...
Stocks at factory, end of month
do...
Soybeans:
Consumption?
thous. of bu.
Production (crop estimate)
do...
Stocks, end of month
_do...
Soybean oil:
Consumption, refmedf
thous. of lb.
Price, wholesale, refined, domestic (N. Y.)
dol. per lb.
Production:
Crude?
thous. of lb.
Refined
do...
Stocks, end of month:
Crude.
do...
Refined?
do...
Oleomargarine:
Consumption (tax-paid withdrawals)!-.do.._
Price, wholesale, standard, uncolored (Chicago)
..dol. perlb.
Production?
thous. of lb.
Shortenings and compounds:
Production
__thous. of lb.
Stocks, end of month?
do...
Vegetable price, wholesale, tierces (Chicago)
dol. per lb_
1
3.05
53, 008
i 12, 526
i 3, 965
2.54
3,981
4,197
2.46
3,899
5,467
2.40
3, 778
10, 347
2.43
4,445
11,938
2.46
3,993
11, 254
2.43
3,817
11, 682
2.56
2 40, 660
3,713
9,006
2.76
3,582
6, 746
2.97
3, 383
4.910
3.17
3,264
3,584
3.21
2, 088
2, 993
3.16
23,440
31, 440
34, 200
54, 640
47, 240
56, 820
64, 740
60, 660
45,180
44,100
46, 320
41, 520
45,180
46, 826 44, 407 46, 726 44, 383 40,198
151.183
40, 879 37, 820 41, 558 46, 320 44, 375 44, 265
.137
.136
.134
.131
.153
. 139
. 127
.129
.134
.153
.157
143
. 155
241,015
76, 782 76, 308 72, 023 84, 785 77, 045 73, 569 71. 780 69, 346 63, 214 62, 298 50, 691
27, 900 21. 850 22, 750 24, 850 25, 560 27, 780 26, 280 28, 560 38,100
39, 360 40. 380
"36," 060' 1 22,100
225, 615 211,087 230, 252 242, 879 273,101 291, 212 297, 244 289, 245 278, 601 228, 551 263, 561 228, 796
» 18, 497
6,595
6,218
6,081
6,893
8,145
12, 215
13, 066
14, 892
13, 635
10, 244
5,931
1,120
25, 213
35, 356
10,058
209, 559
34,938
12, 293
» 11, 624
31, 353
28, 782
28,325
26,230
20, 607
• 123, 400
42,629
58, 478
63,940
60,393
49, 691
53,608
62,320
80,168
95, 622
89, 614
80,903
.135
.135
.137
.138
.138
.138
57, 413
62, 407
55, 389
60, 879
64, 451
55, 435
75, 393
58,061
92, 326
65,414
i 78, 719
76,098
59, 843
48, 061
78, 350
73, 099
68, 896
67, 761
52, 456
55,134
51, 364
51, 234
62, 268
51, 476
83, 416
57,080
99,156 108,735
63, 545 69,995
23,099
22, 535
24, 379
29, 537
35, 403
39, 371
42,151
53, 311
126, 507 126, 332 129,161
73, 753 84,221
96,092:
50, 984 57, 482 32, 363 20,651
.150
27,143
.150
29, 383
.150
38, 495
.150
39, 604
,150
46, 283
. 150
47, 635
.150
42,099
.150
61,984
.163
62, 982
.135
' 167,945
147, 269
1
1
.165
246,304
i 63, 208
.165
95, 477 125,918 158,107 130, 336
56, 823 50, 953 43, 583 41,142
2
(*)
109, 704 107, 739 115,321
96, 989
73, 875 89,103
.170
70, 045
131.833 122, 746
105, 341 100,182
.165
43,120
.165
30, 775
96, 229 117,915 119, 748 124, 958 134, 785 134,111 122, 568
37, 853 42, 648 43, 230 41, 285 38, 272 44, 603 51, 920
.165
.165
.165
.165
.165
.165
.165
.165
.165
.165
173
32
103
29
117
36
147
33
100
45
77
37
104
33
114
45
104
34
123
42
128
45
121
43
268
517
235
406
219
385
196
410
190
481
153
394
154
360
169
443
234
590
235
611
266565
43,982
39, 513
17, 082
22, 430
4,469
42, 221
37, 987
17,173
20, 813
4,234
41,106
36, 935
16, 748
20,187
4,170
43,028
37, 782
17, 243
20, 540
5,246
44,122
39,186
17, 906
21, 280
4,935
177
456
38,122
34,315
16, 221
18,094
3,807
37,141
33, 518
16, 905
16, 612
3,623
37, 843
33, 677
16, 221
17, 456
4,166
38, 392
34, 530
16, 726
17,804
3,862
42, 710
19,897
22, 225
4,275
50,923
46, 221
20, 907
25,313
4,702
51.435
46, 710'
21, 830
24, 880
4,725
.165
PAINT SALES
Calcimines, plastic and cold-water paints:
Calcimines
thous. of dol.
Plastic paints
do...
Cold-water paints:
In dry form
_
...do...
In paste form, for interior use
do...
Paint, varnish, lacquer, and fillers:
Total
deClassified, total
.
do...
Industrial
do___
Trade
do...
Unclassified
do...
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production, total
mil. of kw.-hr..
By source:
Fuel
do
Water power
do
By type of producer:
Privately and municipally owned electric
utilities
mil. of kw.-hr..
Other producers
do
Sales to ultimate customers, total (Edison
Electric Institute)
mil. of kw.-hr_Residential or domestic
do
Rural (distinct rural rates)
do
Commercial and industrial:
Small light and power
do
Large light and power
do
Street and highway lighting
do
Other public authorities
do
Railways and railroads
do
Interdepartmental
do
Revenue from sales to ultimate customers
(Edison Electric Institute)
thous. of dol—
18,075
15,182
16, 005
16, 262
16,114
16, 753
16, 459
17, 681
17, 651
16,110
17,829
17,238
• 17,865
11,593
6,482
9,831
5,352
10, 877
5,128
10, 946
5,315
10, 895
5,219
11,244
5,509
10, 726
5,733
11,571
6,110
11, 255
6,396
10, 220
5,890
11, 205
6,623
10, 474
6,764
' 10, 669
r
7,196
15,521
2,554
13, 394
1,788
14. 047
1,958
14,047
2,214
13, 804
2,310
14, 282
2,470
14, 086
2,373
15, 237
2,444
15.170
2,481
13,936
2,174
15, 377
2,451
14, 824
2,414
15, 276
' 2, 589
12, 670
2,025
270
13,166
2,053
335
13, 650
2,104
13, 712
2,156
355
13, 970
2, 223
269
14, 097
2,342
197
14, 747
2,522
187
14,881
2,678
174
14, 394
2,519
176
14,810
2,385
171
14, 782
2, 318
195
14,758
2, 240
219
2,160
7,194
132
313
509
66
2,247
7,471
137
333
522
2,328
7,716
151
376
522
66
2,322
7,724
157
384
523
92
2,272
7,946
185
396
560
118
2,308
7,938
197
402
568
144
2,366
8,188
216
439
671
158
2,470
8,021
202
580
671
85
2, 381
7,793
182
655
608
79
2, 334
8,369
176
638
653
84
2,349
8,409
160
671
596
84
2, 307
8, 458
148
732
576
78
227, 057
232,460
059
240,253
243,094
780
253, 645
250, 823
250,156
246, 789
10, 436
9,609
353
462
31, 848
17, 054
2,589
11,986
10, 500
9,687
339
463
30, 266
16,415
1,713
11,870
10, 548
9,732
343
462
29, 481
15, 882
1,339
12, 056
10, 580
9,752
360
459
30, 957
17,127
1,411
12,194
10,559
9,722
381
445
34, 811
18, 084
3,285
13,160
10, 534
9,696
388
440
38, 413
16, 319
8,103
13,665
10, 603
9,754
398
442
45,947
17, 441
13, 577
14, 516
10, 538
9,708
369
453
46,954
19, 082
13, 033
14, 437
10, 575
9,735
380
449
45,396
18, 647
12,405
13,969
10, 537
9,707
361
457
45,037
18, 696
10,803
15,178
31, 068
22, 076
1.906
6,965
30, 021
21, 608
1,327
6,962
29, 515
21, 254
1,115
7,008
31,017
22, 438
1,311
7,139
33, 796
23, 454
2,557
7,622
35,681
22,622
4,744
8,123
39,968
23, 377
4,771
8, 591
40, 990
23, 938
8,349
8,479
39,816
22,899
8,304
8,401
39, 035
22, 814
7,413
8,592
238,
246,
749
255,
711
260,
GASf
Manufactured gas:
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
1
r
Revised.
• Data not available.
2
3
i Quarterly data. Data compiled monthly beginning July 1942.
Dec. 1 estimate.
July 1 estimate.
? Small revisions have been made in the data for 1941 for the indicated series on oils and oilseeds.
t Revised series. Manufactured and natural gas revised 1929-42. All changes are minor, amounting to less than 1 percent. Data prior to June 1942 are available on*
request.
August 1943
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
S-25
SURVEY OF CURRENT BUSINESS
1942
1943
June
June
July
August
September
1943
October
Novem- December
ber
January
February
March
April
May
ELECTRIC POWER AND GAS—Continued
GAS—Continued f
Natural gas:
Customers, total
___
-thousands
Domestic
_do_.
Industrial and commercial
do_.
Sales to consumers, total
.mil. of cu. ft
Domestic
do__
Tndl., coml., and elec. generation
do_.
Revenue from sales to consumers, total
thous. of dol
Domestic
do..
Indl., coml., and elec. generation
do..,
8,231
7, 650
578
121,188
23,959
94,495
8,281
7, 700
577
120, 273
20, 221
97, 543
8,269
7,702
564
118,463
18, 557
96,997
37,043
18,095
18, 599
35, 058
15, 766
18,851
33,874
14,753
18,746
8,
7,
123
19,
101,
34, 914
15, 044
19, 520
8,379
7,783
594
137, 605
26, 744
108, 240
8,473
7,856
615
156,140
38, 585
114,556
8,507
7, 885
620
180,000
57, 334
118,888
8,446
7,842
601
193,526
69, 577
120, 778
8,448
7,850
596
195,113
68, 206
123, 048
8,498
7,892
604
190, 074
63, 627
122, 497
41,113
19,218
21,528
49, 554
25, 582
23, 544
62,181
35, 497
26,127
70, 863
42, 659
27, 730
69, 367
41, 204
27, 598
66, 449
38, 783
27, 055
5,218
4, 550
8,565
5,891
5, 547
8,661
5,984
5, 683
8,705
5,834
6, 067
8,215
12,779
1,179
9.054
170, 259
13, 746
811
10,056
461,146
11,942
636
8, 669
453,034
423
7,361
445, 915
0
6,138
453, 387
0
6.649
444, 878
0
5, 774
437, 398
0
4,725
430,917
4, 836
4, 238
5, .536
4,785
4,780
4,074
4, 608
3,917
5,327
8, 564
122, 707
3,595
8,311
114, 214
2,930
8,066
106, 200
1, 527
7,053
99,122
77
62
736
153
74
812
112
79
845
122
97
854
«.485
140, 075
16, 676
«.476
150,185
30,190
«.475
190,535
r 82, 701
.233
345
035
615
890
.233
83, 590
66, 740
79, 464
65, 843
.233
109, 410
87, 560
r 97, 327
r
80, 495
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:!
Production
___thous. of bbl.
7,392
4,421
6,984
6,212
4,813
6,803
6,587
4,705
5,770
Tax-paid withdrawals
„..
..do
7, 025
4,236
5,860
6,864
4,699
6,814
6,208
5,626
4,717
Stocks, end of month
do _.
8,295
8,121
8,935
8.483
8,159
8,651
8,487
8, 593
8,253
Distilled spirits:
Apparent consumption for beverage purposes.thous. of wine gal.
12,891
26, 807 13, 442 15, 730 12, 217
.15. 829 16,611
19,284
Production!
thous. of tax gal.
457
7,331
1,571
876
7, 968
6, 893
6, 526
7.528
4,071
7,181
Tax-paid withdrawals!-do
9,212
10,273
12,801
15,380 15,129
16, 596
8, 583 10,100
439, 519 538? 910 537, 737 529,089 521, 243 507, 226 499, 350 489, 418 479,196
Stocks, end of months
. do
Whisky :f
Production
„
do
0
5,744
6,536
7,039
0
4,945
1, 797
0
0
Tax-paid withdrawals-.
.do
6, 324
6,873
10,008
11,439
5,656
7,114
4,779
8, 585 10,144
Stocks, end of month
do
424,831 516, 919 515,847 507,493 500,147 487, 550 480, 325 471,026 461,686
Rectified spirits and wines, production, totalf
4,884
thous. of proof gal..
5,177
4,478
6,199
7,548
7, 756
7,952
4,982
5, 399
4,134
Whisky
_
.do.....
6,652
4,619
3,843
6,499
6,753
6,926
4,228
Still wines:!
Production
thous. of wine gal..
5,422
555
12,458
3,542
3,940
19, 225 85, 753 48,360
Tax-paid withdrawals
do
9,009
11,498
7,538
7,916
10,747
8,416
11,473
9,963
Stocks, end of month
.do
133,195 124, 765 116,168 113,962 142,851 152, 288 141,403 132,012
Sparkling wines:!
41
Production
do
55
75
115
44
58
64
Tax-paid withdrawals
-do
65
69
119
54
93
121
159
44
Stocks, end of month
.do
730
1,019
979
916
854
1,037
761
1,050
DAIRY PRODUCTS
Butter, creamery:
Price, wholesale, 92-score (N, Y.).dol. per lb..
Production (factory)t
thous. of lb._
Stocks, cold storage, end of month
do
Cheese:
Price, wholesale, American Cheddars (Wis
consin)
_.dol. per lb_.
Production, total (factory)!
thous. of lb_.
American whole milkf__
do
Stocks, cold storage, end of month
do
American whole milk
do
Condensed and evaporated milk:
Prices, wholesale, U. S. average:
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:
Price, dealers', standard grade-dol. per 100 lb
Production
mil. of lb_.
Utilization in manufactured dairy products!
mil. oflb.Dried skim milk:
Price, wholesale, for human consumption,
U. S. average
dol. per lb-.
Production, totalt
thous. of lb._
For human consumption!
do
Stocks, manufacturers', end of month, total
thous. oflb..
For human consumption
do
° . 434
.369
202,195 201,110
157,955 117,111
.233
116,280
97,600
144,461
116,786
5.84
4.15
.439
.414
.382
.465
186,560 167, 330 137,375 123,954
148, 504 152,198 123, 599 86,981
.217
.202
.205
.210
131,370 113,054 101,528 82, 837
113,167 96, 896 85, 644 67,931
261, 935 296, 763 279, 905 259,078
228, 478 261, 535 243, 596 224,861
5.65
3.49
5.65
5.65
3.50
5.83
3.66
11,500
386,000
7,483
6,050
397, 567 314, 349
8,506
270,024
6,789
221,679
10,736
373,784
7, 445
6,733
5,412
4,149
331,571 290,875 210,140 136, 626
2.82
2.75
2.75
2.76
9,498
12, 555 11, 765 10, 766
3.18
12,600
.466
116.103
24,979
.465
106,023
45,937
.233
.271
71, 580 55,616
56, 884 42, 341
195, 378 153,806
169, 913 134,332
».476
122, 880
15,607
«. 480
121, 995
12, 327
.233
.233
54. 932 60,155
41,020 46, 545
131,398 113,797
112, 348 97,103
.233
60, 375
46, 945
93, 379
76, 678
74,
58,
77,
64,
5.83
3.73
5.83
3.85
5.84
4.15
5.84
4.14
5.84
4.15
5.84
4.15
5.84
4.15
5, 580
5,168
203,114 165,956
7,088
178,333
8,283
204, 698
8,952
210, 315
8. 510
252, 339
8.790
288, 923
12, 500
376,015
2,445
97, 706
2, 586
90, 678
4,226
82, 672
5,286
94,071
6,395
89, 499
7,198
77, 807
6, 739
114,682
9,121
252, 422
2.85
8,903
2.93
8,172
2.95
8,473
3.00
8, 773
3.08
8,380
3.09
9,759
3.14
10, 245
3.16
11, 904
5.83
3.75
6,439
6,520
5,846
5, 227
4, 3U0
3, 864
3,222
3,478
3,740
' 3, 731
' 4, 377
r
4, 773
r 6, 097
. 139
63,325
59,925
.126
76, 229
68, 673
62, 226
55,405
.127
64,901
58,554
49,041
43, 200
.129
58, 273
52,896
41,826
36, 703
.131
47, 568
43, 957
.133
39,913
36,853
.132
31,186
28,809
.134
34,419
32,134
.137
30,800
29,000
.137
31, 900
29,200
.138
42,150
40,150
.139
47, 500
45, 350
. 138
59, 975
56, 950
32,392
28,432
19,570
17, 332
17, 833
16,322
27,060
26, 329
27, 729
26, 673
26,164
24, 995
30, 652
29, 884
33,065
32, 352
43, 907
42,984
790
0
707
0
12,335
742
0
9,947
5, 523
11,105
11,432
32, 706
11,578
7,462
35, 761
12,407
3,893
23,663
19,173
4,891
16. 549
746
403
736
2,793
4, 623
18, 247
1,845
1,760
17,190
207, 767 225,104
221,727
206,396
392
98, 967
• 96, 515
478
62,076
• 56, 689
394
3,460
48,062
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
thous. of bu._
Shipments, carlotj
no. of carloads..
777
Stocks, cold storage, end of mo -thous. of bu. 0
Citrus fruits, carlot shipments no. of carloads, - - 14, €
Frozen fruits, stocks, cold storage, end of month
thous. of lb-.| 106,656
Frozen vegetables, stocks, cold storage, end of
month
thous. oflb.. 73,207
Potatoes, white:
Pric*, wholesale (N. Y.)
dol. per 100 l b . . 2 3,865
Production (crop estimate)!
thous. of bu.. 434,942
Shipments, carlot
no. of carloads.. 27,094
1
16,084
129,334
65, 358
2.883
186,003
88,248
102,186
117, 796
115,810
115,845
127,655
4,823
30, 577
19,428
188,041
17, 529
172,103
145, 272
92, 344
103,333
2.379
2.206
1.615
1.950
2.919
2.150
2.275
1
371,160
"11^472" "I6,~026" " 15," 223* ~22~998" "~I5,~924 15,846 "2l,~33T
74,821
4,936
2.800
18,490
" 398" " 12," 084
~21~514
!
2
'247631"'
>• Revised.
December 1 estimate.
J u l y 1 estimate.
o Reflects all t y p e s of wholesale t r a d i n g for cash or short-term credit; base ceiling price c o m p a r a b l e w i t h d a t a prior to J a n u a r y 1943 is $0.46 % t h r o u g h J u n e 5 a n d $0.41%
effective J u n e 6, 1943.
zation of fluid milk in manufactured dairy products have been revised to include t h e milk equivalent of d r y whole milk a n d condensed b u l k goods; earlier revisions will be
shown later. 1941 revisions for other indicated dairy products series are shown in notes marked "f" on pp. S-24 and -25 of the March 1943 Survey; revisions in the 1942 data
are shown on p. S-28 of the July 1943 Survey. Crop estimates for potatoes have been revised beginning 1929; revised 1941 estimate is 355,602; earlier revisions are available on
request. For note on gas see p. S-24.
S-26
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the
June
1942 Supplement to the Survey
August 1943
1942
June
July
August
September
1943
October
Novem- December
ber
January
February
March
April
May
FOODSTUFFS AND TOBACCO—Continued
GRAINS AND GRAIN PRODUCTS
Barley:
Prices, wholesale (Minneapolis):
0.99
No. 3, straight
dol. per bu_.
No. 2, malting
do
1.08
Production (crop estimate) t
thous. of bu__ 2 353, 982
12,603
Receipts, principal markets
do
8,666
Stocks, commercial, dom., end of mo., do
Corn:
b 8,736
Grindings, wet process
..._do
Prices, wholesale:
1.06
No. 3, yellow (Chicago)
dol. per bu__
1.23
No. 3, white (Chicago)
do..._
1.04
Weighted avg., 5 markets, all grades, .do
1
2,706.552
Production (crop estimate)!
thous of bu,
13,032
Receipts, principal markets
do..
Stocks, domestic, end of month:
9,597
Commercial
do..
812,692
On farms!
...do..
Oats:
Price, wholesale, No. 3, white (Chicago)
.69
dol. per bu__
Production (crop estimate)!...thous. of bu__ ,242,255
9.172
Receipts, principal markets
do
Stocks, domestic, end of month:
7,774
Commercial
do..
On farms!
d o . . 3 236, 444
Rice:
Price, wholesale, head, clean (New Orleans)
dol. per lb_.
.067
Production (crop estimate)!
thous. of bu._ •71,838
California:
Receipts, domestic, rough
bags (1001b.)__ 477,897
Shipments from mills, milled rice
do
309,872
Stocks, rough and cleaned (in terms of
cleaned rice), end of mo
bags (1001b.).. 248,106
Southern States (La., Tex., Ark., and Tenn.):
Receipts, rough, at mills
thous. of bbl. (1621b.)..
125
Shipments from mills, milled rice
thous. of pockets (100 lb.)__
455
Stocks, domestic, rough and cleaned (in
terms of cleaned rice), end of month
thous. of pockets (100 lb.)..
661
Rye:
Price, wholesale, No. 2 (Mpls.).-dol. per bu_.
.94
Production (crop estimate)!
thous. of bu.. • 33, 562
Receipts, principal markets
do
3,438
Stocks, commercial, dom., end of mo.- do
23, 350
Wheat:
Disappearance, domestic!
do
Prices, wholesale:
No. 1, Dark Northern Spring (Minneapolis)
dol. per bu_1.41
(a)
No. 2, Red Winter (St. Louis)
do...No. 2 Hard Winter (K. C.)
do....
1.37
Weighted av., 6 markets, all grades, do
1.39
Production (crop est.), total!..-thous. of bu.. 79b.823
Spring wheat
do
571, 633
Winter wheat
do--_. 519,190
Receipts, principal markets
do
56,041
Stocks, end of month:
Canada (Canadian wheat)
do
387, 497
United States, domestic, total t !
do
Commercial
do
162,150
Country mills a^nd elevators!
do
102, 446
Merchant mills
do
On farms!
do
190,034
Wheat flour:
Grindings of wheat
do
Prices, wholesale:
4
Standard patents (Mpls.)
dol. per bbl.
6. 43
Winter, straights (Kansas City)
do
4 5.93
Production (Census):
Flour, actual
thous. of bbl__
Operations, percent of capacity
Offal
thous. of lb_.
Stocks held by mills, end of month
thous. of bbl. _
0.64
.85
0.61
4,118
3,015
0.64
.82
18, 872
5,691
15, 566
10, 551
9,436
12,154
9,967
10, 743
10, 679
10, 749
10,642
14,963
11,887
11, 276
11,175
10,922
.84
1.02
.84
1.06
.85
.77
1.04
.77
.81
1.07
.79
0.68
.89
0.65
6,916
3,600
10, 752
.85
.96
.84
22,448
57, 012
761,363
0.65
.90
0.74
.95
1426,150
0.86
0.85
0.84
.99
7,725
9,771
0.83
.97
7,456
9,000
6,987
8,814
7,224
11,387
10, 581
11, 513
9,053
8,767
• 10,107
.97
1.09
.92
.97
1.15
.93
1.01
1.20
.96
.96
1.00
.85
23, 578
20,126
22,183
27,835
1.08
.85
13,175,154
30,999
41,389
35,929
37, 303
30, 568
49, 747
43, 697
38,641
3 423,758
39,969
40, 734
43,407
2,277,332
42,829
48, 769
42, 326
1,395,112
.54
1,358,730
6,783
.59
.60
.64
.49
.48
.49
.49
.50
3,671
6,642
16, 918
17,414
13,125
6,209
6,353
7,894
2,109
3192,398
2,191
5,132
10,123
1,132,933
12,106
10,451
9,534
887,575
7,649
7,608
.070
.070
.067
.062
.067
.067
1 66,363
.067
.067
479,241
398, 201
196,964
167, 716
493 394,062
36, 666 60,150
531,917
111,630
543,339
383,414
197,938
152, 048 107,281
40, 293
69, 944
70,919
247,027
457, 565 428, 358
b
10,713
r1.03
1.22
1.03
26, 433
1.06
1.23
1.04
22, 507
29, 463 24,173
.67
.65
8,568
8,362
"I6~662
6,182
508,208
5,083
8,761
.067
.067
.067
484, 751 541,602 528, 399 395, 030 431,401
319, 526 290,039 326,014 339,188 401, 271
367,863
421, 529 416,408
335, 955 255,036
105
14
298
1,295
2,902
2,717
2,293
1,297
965
530
214
168
253
187
253
781
1,764
1,947
2,091
1,730
1,009
1,331
789
642
1,908
2,787
3,100
2,769
2,680
1,954
1,429
974
.70
1 57,341
1,577
1,061
19, 761 19,889
.75
.79
.83
.81
.87
802
19,924
1,345
19,645
2,943
20, 458
1,818
21,053
3,909
22, 656
1.40
1.52
1.38
1.39
1.42
1.58
1.38
1.40
282
109
158
677
.60
.61
.59
.65
17,034
1,269
17,212
2,508
17,288
2,393
18,477
178,628
1.14
1.19
1.11
1.11
3,846
19,295
234,957
1.14
1.22
1.08
1.10
218,806
1.13
1.26
1.11
1.11
1.19
1.33
1.20
1.18
1.19
1.38
1.21
1.15
38,951
53,694
45,416
1.20
1.32
1.23
1.17
1.32
1.48
1.31
1.28
1981,327
1278,074
1703,253
31,811
32,261
258, 862
1.39
1.54
1.37
1.36
1.41
1.55
1.37
1.38
1.44
()
)
1.40
1.41
23,416
61,645
384, 746
631,970
224, 441
142,366
96.837
163,700
390,572
378,091
37,842
41,465
40,920
44,563
47,703
43,307
46,069
49,959
44,286
47,927
40,668
35,482
5.51
5.09
5.60
5.01
5.73
5.13
5.95
5.45
6.04
5.60
6.09
5.60
6.18
5.60
6.33
6.12
6.35
6.16
6.20
6.44
6.11
6.45
6.07
8,279
55.0
656,814
9,075
60.4
718,093
9,793
59.6
67.9
705, 516 765,128
10,497
67.4
817,014
9,516
10,152
68.8
67.9
743, 560 787,629
11,037
73.8
847,171
9,780 10, 569
8,973
70.7
66.8
59.2
75% 936 818, 299 693,035
7,853
54.0
603,659
3,619
386,956 425,614
1,378,224
261~422" 26(U49~ 269,290
257, 765
151,927
644,146
3,838
35,398 36,106 47, 528 36, 334 37, 271
447,960 447,094 438,615 420, 863 409, 388 390,802
1,159,418
900, 556
259^487" 245,150 230^639" '214,954 212,131 194,163 173,113
235,221
174, 591
139,385
123,455
494,662
327, 667
435,180
3,925
4,235
LIVESTOCK
Cattle and calves:
Receipts, principal markets
thous. of animals .
1,433
1,953
2,398
1,831
2,605
2,995
2,535
1,613
1,845
1,811
1,661
1,541
1,597
Shipments, feeder, to 8 corn belt States !
thous. of animals..
99
222
387
579
104
91
391
142
223
138
99
85
Prices, wholesale:
Beef steers (Chicago)
dol. per 100 lb_.
13.11
15. 56
13.63
14.87
14.84 15.21
15.30
14.85
14.84
15.14
15.54
15.71
15.44
Steers, stocker and feeder (Kan. City) .do
14.38
11.83
11.09
12.05
11.64 11.83
12.62
12.67
12.24
14.49
13.49
14.58
14.60
Calves, vealers (Chicago)
do
14.63
13.00
13.13
13.70
14.00 | 13.50 13.50
14.25
15.00
13. 50
14.63
13.88
14.40
b
° No quotation.
For domestic consumption only, excluding grindings for export.
' Revised.
i December 1 estimate.
2 j u i y 1 estimate.
3 Includes old crop only; new corn not reported in stock figures until crop year begins in October and new oats until the crop year begins in July.
• Prices were quoted for sacks of 100 pounds and have been converted to price per barrel of 196 pounds to have figures comparable with the earlier data.
VThe total beginning June 1942 includes comparatively small amounts of wheat owned by the Commodity Credit Corporation stored off farms in its own steel and wooden
bins, not included in the break-down of stocks. June figures include only old wheat; new wheat not reported in stock figures until crop year begins in July.
! Revised series. The indicated grain series have been revised as follows: All crop estimates and corn and oat stocks on farms beginning 1929; domestic disappearance of
wheat beginning 1934; wheat stocks beginning 1926. T»—•—-^ «""
*.•.__ ..L
* -r.
,__..«.„ _.,._.,. <..__
„ ~- ^,
.., „ .
vised 1941 quarterly or monthly averages f
available on request. The series for feede
^
,__oo
,.^,..
^v, ^ .•
„ u^«^i—vU
o
animals): 1941—Jan., 132; Feb., 95; Mar., 102: Apr., 138; May, 124; June, 95; July, 104; Aug~"l82~; Sept.r 327; Oct., 498; ~Nov.T368; Dec",' 232;* monthly "a verage,"2wTT9427 not
shown
above—Jan.,
123;
Feb.,
79;
Mar.,
103;
Apr.,
154;
May,
115;
monthly
average,
214.
S-27
SURVEY OF CURRENT BUSINESS
August 1943
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
1943
1942
June
September
June
July
August
1943
October
Novem- December
ber
January
February
March
April
May
FOODSTUFFS AND TOBACCO—Continued
LIVESTOCK—Continued
Hogs:
Receipts, principal markets_thous. of animals..
Prices:
Wholesale, average, all grades (Chicago)
dol. per 1001b..
Hog-corn ratiot
bu. of corn per cwt. of live hogs..
Sheep and lambs:
Receipts, principal markets
thous. of animals..
Shipments, feeder, to 8 corn belt Statesf.do
Prices, wholesale:
Lambs, average (Chicago)_.dol. per 100 l b . .
Lambs, feeder, good and choice (Omaha)
dol. per 1001b..
3,675
2,896
2,452
2,187
2,529
2,687
3,310
4,225
3,431
2,815
3,027
2,844
3,321
13.85
14.19
14.25
14.37
14.45
14.98
13.96
14.01
14.78
15.35
15.59
15.13
14.44
12.8
16.3
16.6
16.9
16.4
18.2
17.7
16.5
16. 0
16.2
15.5
14.3
13.4
1,784
151
1,832
153
2,138
172
2,772
3,741
1,002
2,780
465
2,379
202
1,738
221
1,603
139
2,074
'194
14.75
14.18
14.30
14.53
15.39
1,939
178
15.86
1,671
191
15.22
3, 657
789
14.16
15.91
16.24
15.98
15.82
(a)
(a)
12.52
12.89
12.20
12.35
13.12
13.59
14.26
14.91
14.42
14.07
1,406
1,449
519
1,413
1,532
521
72
1,404
1,553
579
73
1.557
1,887
829
1,404
1,632
913
81
1,213
1,380
956
84
1,374
1,490
909
79
1,320
1,384
864
86
1,397
1,544
'880
-94
475,877
482, 234
488
14.60
12.94
MEATS
Total meats (including lard):
Consumption, apparent
mil. of lb_.
Production (inspected slaughter)
do
1,603
Stocks, cold storage, end of month
do
925
Miscellaneous meats
do
100
Beef and veal:
Consumption, apparent
thous. of lb..
Price, wholesale, beef, fresh, native steers
(Chicago)
dol. p e r l b . .
.212
Production (inspected slaughter).thous. of lb.. 421,212
Stocks, beef, cold storage, end of mo
do
81, 383
Lamb and mutton:
Consumption, apparent
do
Production (inspected slaughter)
do
65,929
Stocks, cold storage, end of month
do_7,857
Pork (including lard):
Consumption, apparent
do
Production (inspected slaughter)
do
1,115,854
Pork:
Prices, wholesale (Chicago):
Hams, smoked
dol. per lb_.
.293
Fresh loins, 8-10 lb. average
do
.270
Production (inspected slaughter) .thous. of lb.. 853, 729
Stocks, cold storage, end of month
do.. . 515,499
Lard:
Consumption, apparent
do
Prices, wholesale:
Prime, contract, in tierces (N. Y.)
dol. p e r l b .
.139
Refined (Chicago)
do....
.146
Production (inspected slaughter) -thous. of lb.. 191,028
Stocks, cold storage, end of month
do
220,192
1,447
1,531
823
112
1,403
1,447
729
109
1,326
1,329
607
94
632, 756
606, 544 614, 900 634, 822 675, 290 535, 969 557,014
546, 821 499,481
534,497
.210
609,840
81,556
.209
.210
.210
606, 516 613,620 641,531
82,647 83, 288 95,146
.220
.220
522, 960 489,664
107,185 102,246
.220
.220
.220
534,147 466,858 459, 331
97, 736 92, 981 ' 90, 060
66, 734
66,916
5,487
.210
686,028
116,892
.210
.216
548, 612 547,100
130, 454 127,034
58,877
71, 225
24, 885
70, 790
72, 821
7.602
83,407
86,982
11, 260
755, 213
861, 804
729, 544 640,169
773, 247 642,827
687,628
720.437
.295
.293
654, 697
522,173
.293
.295
.303
.325
.293
.325
.293
.293
.284
.294
.284
.298
.310
.311
.284
.284
582, 774 496, 360 557, 953 590, 541 721, 781 952, 397 793, 048 638,132
433, 547 336, 634 270, 287 257,445 291, 841 490,476 588,419 627,399
58, 964
58,899
5,313
85, 093
86, 356
.127
(°)
151,017
102,260
.128
.139
139,042
98,349
.206
32, 493
79,200
.209
34, 435
79,346
.304
4,745
.316
4,095
82,097
87,170
.129
.129
.139
.139
106, 660 118,236
85,274 62,143
84,004
90, 733
17,896
72, 380
82, 547
26, 462
76,839
87,881
34,819
56, 571
64,804
12, 571
59, 279 65, 380
69, 941
64,101
11, 649 ' 10, 284
653,932 795,162 923, 282 797,985 660,876 783,126
755, 565 922, 019 1,251,573 1,037,942 826, 672 891,478
784, 700 849, 521
853, 259 1,015,157
52,424
63,412
19, 748
.293
.293
.293
.284
.284
.284
703, 700 670, 622 771, 300
591, 597 524, 049 • 519,798
153,448
125, 961 100, 203
.139
.139
.136
.146
.142
.146
119,978 145, 578 218,107
57, 547 57,434 91,333
.139
.139
.146
.146
178,549 137,304
111, 867 122,240
.209
.210
.234
58, 910 78, 661 64,495
161,011 193, 263 187,943
.245
28,484
142,002
.245
19,009
101, 741
.245
14, 290
58, 079
66, 631 108,432
84, 976
72, 411 105,244
.139
.139
.146
.146
136, 444 132,836
128, 264 149,141
.139
.146
177, 699
166,129
POULTRY AND EGGS
Poultry:
Price, wholesale, live fowls (Chicago)
dol. p e r l b .
.250
Receipts, 5 markets
thous. of lb.
14, 742
Stocks, cold storage, end of month
do
25,193
Eggs:
Price, wholesale, fresh firsts (Chicago) t
dol. per doz.
Production
millions.
5,356
Stocks, cold storage, end of month:
Shell
thous. of cases..
8,995
Frozen
thous. of lb. 322, 382
7,935
278,499
.224
37,307
86,645
.230
46,666
115,505
.337
3,547
7,754
6,751
290, 529 272,042
.351
3,019
5,421
234,876
.246
.250
9,452
9,469
32, 513 • 20,963
.390
2,558
.390
3,006
.384
3,769
.355
4,577
.374
6,462
.372
6,727
.379
6,506
1,170
3,117
180, 329 126,321
273
82,948
214
59, 781
974
56, 508
3,236
99,180
6,227
172,279
' 8, 266
251,526
.390
2,725
TROPICAL PRODUCTS
Coffee:
Clearances from Brazil, total.-thous. of bags
To United States
do...
Price, wholesale, Santos, No. 4 (N. Y.)
dol. p e r l b .
Visible supply, United States, thous. of bags..
Sugar, United States:
Raw sugar:
Price, wholesale, 96° centrifugal (N. Y.)
dol. perlb.
Refined sugar, granulated:
Price, retail (N. Y.)
do...
Price, wholesale (N. Y . ) . .
do
1,114
860
453
560
418
269
136
519
716
508
510
384
506
378
414
248
732
682
591
471
615
515
144
137
.134
627
.134
1,079
.134
973
.134
795
.134
539
.134
381
.134
361
.134
703
.134
247
.134
554
.134
383
.134
530
.134
646
.037
.037
.037
.037
.037
.037
.037
.037
.037
.037
.037
.037
.037
.066
.055
.066
.055
.066
.055
.066
.055
.068
.055
.068
.055
.055
.068
.055
.055
.068
.055
.068
.055
.068
.055
.067
. 055
23,962
29, 234
35,665
MISCELLANEOUS FOOD PRODUCTS
Candy sales by manufacturers..-thous. of dol
Fish:
Landings, fresh fish, prin. ports, -thous. of lb..
Stocks, cold storage, end of months
do
Gelatin, edible:
Monthly report for 7 companies:
Production
...do
Shipments
_
do
Stocks
-.
do
24,837
19,177
20,136
57,446
49,195
63,411
48,887
81,496
1,860
2,151
3,528
1,962
2.292
3,198
49, 307 40,021
100, 088 109,428
1,715
2,130
2,783
1,712
1,907
2,588
32,099
32, 741
38, 659 28.449
115,128 114,198
13, 370
105, 343
2,217
2,339
2,544
2,014
2,054
2,504
2,128
2,050
2,666
29, 676
33,831
32,139
26,997
15, 733 '17,532
74,949 52, 902
25,906
29, 782
30, 434
21, 371
34,133
34, 388
2,078
2,147
2,421
1,961
1,863
2,519
2,046
2,214
2,352
2,150
2,071
2,431
28, 212
1,913
1,927
2.490
* Revised.
° No quotation.
X Data compiled by the Department of Labor from a trade journal have been substituted, beginning in the May 1943 issue, for the Department of Agriculture's series
formerly shown which has been discontinued; except for the difference in source, the series is the same as that published in the 1942
1 Supplement.
Prior toJanuary
1943, \xa\jd,
data are
j a i i u o i j J.W±O,
aLV as
as of
ui the
m o 15th
lutii of
ui the
LUG month.
UIUJJ.HI.
fRevised series. The hog-corn ratio has been revised beginning 1913 Revisions beginning February 1942 are in the March and April 1943 issues; earlier revisions are available on requesit. The series for feeder shipments
.
. and lambs has been revised beginning
~
of sheep
Jan. 1941 to include data for Illinois; revisions as aro follows (thousands of
animals): 1941—Jan., 136; Feb., 145; Mar., 134; Apr., 56; M a y , 141; June, 155; July, 196; Aug., 471; Sept., 861; Oct., 1,029; Nov., 236; D e c , 129; m o n t h l y average, 307.
not shown above—Jan., 147; Feb., 91; Mar., 105; Apr., 159; M a y , 206; m o n t h l y average, 332.
1942,
S-28
SUEVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the June
1942 Supplement to the Survey
August 1943
1943
1942
June
July
August
September
October
Novem- December
ber
January
February
March
April
May
FOODSTUFFS AND TOBACCO—Continued
TOBACCO
Leaf:
Production (crop estimate)
mil. of lb__ 31,397
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 lieht air-cured
do
Miscellaneous domestic
do
Foreign grown:
Cigar leaf
do
Cigarette tobacco
do
Manufactured products:
Consumption (tax-paid withdrawals):
Small cigarettes
millions,. 20, 894
Large cigars
thousands_. 449, 641
Mfd. tobacco and snuff
thous. of lb_. 23, 246
Prices, wholesale (list price, composite):
Cigarettes, f. o. b., destination, -dol. per 1,000..
6.006
Cigars, delivered, . .
do
(2)
Production, manufactured tobacco:
Total
thous. of lb
Fine-cut chewing
do
Plug
do
Scrap chewing
do
Smoking
_.do
Snuff
do
Twist.
do . .
1
1 , 417
3,177
3,260
3,434
3,301
426
280
2,366
4
381
249
2,519
3
337
242
2,752
3
376
287
2.544
3
22
78
24
85
22
77
22
68
20, 004
532, 390
27,807
20, 875
510,823
27, 013
20,941
498, 872
25, 329
21, 978
519,976
27, 329
23, 075
633, 350
30,956
20, 447
474. 348
25, 882
19, 716
685, 002
24,081
20, 370
436, 744
25, 297
17, 678
410. 599
22,691
20,612
427, 836
26, 856
19, 943
451. 899
25,135
18, 476
441,372
23, 906
5.760
46.592
5.760
46.592
5.760
46. 592
5. 760
5. 760
6.006
6.006
6.006
6.006
6.006
6.006
(2)
6.006
(2)
28, 207
481
4,878
4,047
14,912
3, 366
522
29,443
446
4, 933
5, 243
15, 025
3, 264
534
26, 475
437
4, 749
4, 724
13,259
2,799
506
27, 535
437
5,128
4, 260
14. 035
3,169
507
29, 845
426
5, 036
4, 624
15,980
3,252
526
28, 209
425
4, 686
4,033
15, 247
3,297
522
25, 636
429
4,061
3. 795
13,046
3,783
522
26,273
413
4,684
3,676
13,317
3,681
503
24, 857
356
4,608
3,907
11, 663
3,824
500
29, 266
399
5,368
4,150
14, 447
4,344
559
476
LEATHER AND PRODUCTS
HIDES AND SKINS
Livestock slaughter (Federally inspected):
Calves...
thous. of animals..
Cattle
.
do....
Hogs
__._
..do
Sheep and lamb
do
Prices, wholesale (Chicago):
Hides, packers', heavy, native steers
dol. per lb_.
Calfskins, packers', 8 to 15 lb...
_.do.__.
LEATHER
Production:
Calf and kip
...
Cattle hide
Goat and kid
Sheep and lamb
Prices, wholesale:
Sole, oak, bends (Boston)f
Chrome, calf, B grade, black,
thous. of skins..
thous. of hides-.
thous. of skins-.
do
327
708
5, 650
1,594
475
1,039
4,554
1,481
461
1,048
3,886
1,705
460
1,103
3,223
1,840
513
1,159
3,843
2,223
578
1,280
4,218
2,344
501
1,018
5,023
2,126
6,778
2,175
340
928
5,431
1,724
331
854
4,335
1,499
410
923
4,661
1,495
365
796
4, 463
1,458
328
774
5,357
1,622
.155
.218
.155
,218
.155
.218
.155
.218
.155
.218
.155
.218
.155
.218
.155
.218
.155
.218
.155
.218
.155
.218
.155
.218
.155
.218
1,007
2,107
3,212
4,927
1,031
2,549
3,498
4,514
1, 053
2,616
3,045
4,147
1,093
2,402
2,433
4,287
1,029
2,401
2,735
4,150
1,073
2,647
2.933
4,462
1,009
2, 460
2,660
4,860
1,045
2,647
3,169
4,543
969
2,451
3,017
4,844
973
2,436
2,984
5,023
1,082
2,516
3, 597
5,027
986
2,401
3,383
4,918
923
r 2, 244
2,983
4,991
.440
.440
.440
.440
.440
.440
.440
.440
.440
.440
.440
.440
.529
.529
.529
.529
.529
.529
.529
.529
.529
.529
12, 930
8,951
3, 979
12, 485
8,789
3,696
12,519
8,639
3,880
12, 590
8,623
3,967
12, 429
8,652
3,777
12, 225
8,591
3,634
11,964
8,420
3,544
11,827
8,174
3, 653
11, 590
7,986
3,604
11,197
7,717
3,480
289, 850
178, 452
111,398
295, 243
177, 707
117, 536
272, 256
159, 056
113, 200
268,191
150, 656
117, 535
6.75
4.60
3.50
6.75
4.60
3.50
6.75
4.60
3.50
6.75
4.60
3.50
39, 694
492
395
555
33,411
3,675
41, 800
460
147
671
36, 022
3,763
38, 812
424
175
613
33, 054
3,879
1,467
2,124
3, 603
8,263
14, 280
1,571
2,161
3,602
8, 552
16, 374
1,401
2,136
3,224
7,410
15, 003
.440
dol. per lb..
composite
.529
dol. per sq. ft..
Stocks of cattle hides and leather, end of
month:
Total
thous. of equiv. hides . 10,755
7,297
Leather, in process and
finished
do
3,458
Hides, raw
do
12, 597
8,680
3,917
• 11,087
r 7, 522
3,565
LEATHER MANUFACTURES
Gloves and mittens:
Production (cut), total
dozen pairs..
Dress and semidress
do
Work
do
Boots, shoes, and slippers:
Prices, wholesale, factory:
Men's black calf blucher
dol. per pair..
Men's black calf oxford, corded tip
do
Women's plain, black, kid bluchers t--do.-_.
Production, boots, shoes, and slippers:
Total
thous. of pairs..
Athletic
do
All fabric (satin, canvas, etc.)
do
Part fabric and part leather
do
High and low cut, leather, total
do
Government shoes
do
Civilian shoes:
Boys' and youths'
...do
Infants'
....do
Misses' and children's
do
Men's
do
Women's
do
Slippers and moccasins for housewear
thous. of pairs..
All other footwear
do
6.75
4.60
3.50
295. 715 260, 337 274, 695
166, 831 146, 021 156, 680
128, 884 114, 316 118,015
6.75
4.60
3.50
6.75
4.60
3.50
6.75
4.60
3.50
6.75
4.60
3.50
6.75
4.60
3.50
6.75
4.60
3.50
37,119
460
227
727
31, 092
3,333
H9, 986
475
368
1. 007
33. 041
3,960
35, 247
415
305
901
28, 974
3,424
38, 501
453
317
1,003
32, 351
3,831
37, 504
341
899
801
31, 992
3,913
37, 797
327
1,188
700
31, 777
4,002
41, 945
367
1,380
738
34,811
4,090
1,379
2,079
3,080
7,561
13, 660
1, 549
2.048
3,259
8,310
13,916
1,164
2,003
2,743
7,119
12, 521
1,323
2, 101
3,236
7, 814
1,630
2,095
2,773
7,086
14, 496
1, 481
2,019
2,797
7,235
14, 244
1,468
1,486
1, 578
2,011
2,283 r' 2, 129
2, 525
2, 966
3, 061
6,899
7,775
7,819
16, 211 ' 14, 638 12, 487
6.75
4.60
3.50
6.75
4.60
3.50
40, 657 36, 298
-322
248
•" 1, 624 1,570
695
'871
33, 503 29, 386
3,995
r 4, 278
14, 047
3,993
3,578 r 3, 795
3,053
3,682
2,749
3, 823
4,219
3,989
3,850
4,083
4,447
405
'542
751
1,071
722
695
462
395
1,018
650
664
647
r
!
2
3
Revised.
December 1 estimate.
Not available; data are being revised.
July 1 estimate.
fRevised series. The price series for sole oak leather is shown on a revised basis beginning with the October 1942 Survey; revisions beginning July 1933 are available on
request. The shoe price series for plain, black, kid blucher has been substituted beginning in the June 1943 issue for the colored, elk blucher series formerly shown; data beginning 1940 are shown in footnote marked " t " on p. S-28 of that issue.
S-29
SURVEY OF CUEEENT BUSINESS
August 1943
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
1943
1942
June
September
June
July
August
1943
October
Novem- December
ber
January
February
March
April
May
LUMBER AND MANUFACTURES
!
LUMBER—ALL TYPES
National Lumber Manufacturers Assn.:f
Production, total
_
mil. bd. ft.
Hard woods
do.
Softwoods
.-do
Shipments, total
do
Hardwoods
._
_
do
Softwoods
.-do
Stocks, gross, end of month, total
do_._
Hardwoods
_._
do
Softwoods
do—
2,602
402
2,200
2, 583
4] 6
2,167
3, 625
1,168
2,457
2,966
423
2,543
3,148
501
2,647
5, 546
1,846
3,700
3,091
465
2,626
3,334
538
2,796
5,295
1,7/3
3,522
4,400
7,500
3, 600
4,500
4,500
7,875
8, 950
7, 625
7,675
12,100
7,325
8.650
7, 500
7, 675
12,000
19,135
31, 699
15,758
22,144
16, 679
17,911
30, 479
30, 562
24, 920
72, 341
2,980
471
2 509
3^ 100
510
2,590
5,164
1, 734
3,430
2,896
451
2, 445
3,024
523
2,501
5,062
1,662
3,400
2,847
442
2, 405
2,988
541
2, 447
4,914
1, 563
3,351
2,410
410
2,000
2,575
490
2,085
4,777
1,485
3,292
2,105
381
1,724
2, 386
434
1,952
4,429
1,432
2,997
1,919
387
1,532
2, 225
460
1,765
4,151
1,360
2,791
1,972
382
1,590
2,207
425
1,782
3,934
1,317
2,617
2,380
420
1,960
2, 550
463
2.087
3,776
1,284
2,492
2,452
390
2,062
2,641
458
2,183
3, 639
1,216
2,423
2,578
390
2,188
2,620
425
2,195
3,590
1,181
2,409
6,950
8,100
6,850
7,500
11,500
5, 900
7,200
8,000
6, 950
12, 500
6,000
5,700
6,500
7,500
11,500
5,850
5,500
6,250
6, 300
11, 275
6,600
6,150
5,050
5, 750
10, 650
6,900
6,550
5,500
6,300
9,800
5,850
7,400
4,500
5,050
9,450
5, 850
7,000
4, 675
5,900
8,350
6, 575
8,000
4,150
5, 575
6,750
4,850
7,500
3,700
5,150
5,500
17, 616
24,957
25, 491
21,071
76, 763
22, 720
27, 771
19, 288
18, 906
76, 422
22, 609
22, 631
18, 633
21,214
73, 841
23, 249
19, 101
20,174
26, 779
65, 236
18, 626
19, 476
18, 400
18, 251
63, 563
17, 641
20, 053
18.007
17,064
64, 506
15, 797
20, 824
15,948
15,026
65,428
29, 612
27,626
15, 535
19, 810
51,153
32, 295
33, 637
17,806
26, 284
42, 675
31, 584
37, 373
17,104
27, 848
32, 931
24, 572
34, 708
15,994
25, 437
23, 065
FLOORING
Maple, beech, and birch:
Orders, new
Orders, unfilled, end of month
Production
.
Shipments
Stocks, end of month.
Oak:
Orders, new
Orders, unfilled, end of month
Production
Shipments
Stocks, end of month..
M bd. ft.
do
do
do
do.-.
...do
do
do
-do
do
SOFTWOODS
Dousrlas fir:
Prices, wholesale:
Dimension, No. 1, common, 2 x 4—16
dol. perM bd. ft-. 32.340
Flooring, B and better, F. G., 1 x 4, R. L.
dol. per M bd. ft_. 44.100
Southern pine:
612
Orders, newf.
...mil. bd. ft..
709
Orders, unfilled, end of month
do
Prices, wholesale:
Boards, No. 2 common, 1x8
dol. per M bd. ft.. 33. 000
55. 000
Flooring, B and better, F. G., 1 x4--do
629
Production!-mil. bd. ft..
670
Shipments!
.do
544
Stocks, end of month
do
Western pine:
556
Orders, new
do
577
Orders, unfilled, end of month
do
Price, wholesale, Ponderosa, boards, No. 3
33.36
common, 1 x 8
dol. per M bd. ft..
645
Production f
mil. bd. ft..
544
Shipments f
do
967
Stocks, end of month f
do
West coast woods:
753
Orders, new f
do
1,111
Orders, unfilled, end of month.
do
705
Production f
do
716
Shipments f
...do
505
Stocks, end of month
do.-..
Redwood, California:
73,
863
Orders, new
,
M bd. ft..
118,148
Orders, unfilled, end of month
-do
38,
489
Production __
do
42, 624
Shipments
do
94,881
Stocks, end of month.
.do
32. 340
32. 340
32. 340
32.340
32.340
32.340
32.340
32.340
32.340
32.340
32. 340
32. 340
44.100
44.100
44.100
44.100
44.100
44.100
44.100
44.100
44.100
44.100
44.100
44.100
836
871
866
840
772
793
791
794
808
818
612
736
637
726
721
771
653
747
746
771
720
748
694
727
30. 000
55.000
795
852
881
30.000
55.000
847
897
831
30.000
55.000
779
819
791
30. 000
55.000
757
790
758
30. 000
55.000
758
784
732
30.000
55.000
687
694
725
30. 000
55.000
662
647
740
30.000
55.000
635
676
699
32. 000
55.000
657
677
679
32.000
55.000
706
722
663
32. 000
55. 000
715
733
645
33. 000
55. 000
655
715
585
664
671
597
626
586
562
640
578
474
566
439
539
370
512
397
542
460
565
504
587
31.51
691
628
1,284
31.36
695
642
1,337
564
578
31.53
666
612
1,391
31.53
637
602
1,426
32. 01
650
615
1,443
31.38
432
486
1,389
31.83
343
466
1,192
31.54
244
374
1,062
31.36
246
366
941
31.47
351
438
853
31.59
424
482
795
491
564
32.08
585
514
867
1,067
806
887
756
1,075
1,171
818
945
622
842
1,145
820
858
572
847
1,150
812
830
578
711
1,095
757
768
578
684
1,106
669
673
596
580
1,057
524
624
497
532
1,063
476
525
474
529
1,045
506
537
463
659
1,006
695
699
463
770
1,048
713
724
504
781
1,105
731
721
500
44,631
65,359
41,666
43,307
213,124
50,047
73,137
42, 008
46, 673
207, 588
58.135 44,983
87,154
88, 086
38, 790 38,462
48,647 48, 738
195, 721 182,697
58,278
90,997
41,163
51, 567
170,197
44,868
91, 542
35,399
40,979
163, 457
38,864
85,128
33,571
38,830
158,153
42,188
88,984
31, 946
35, 030
155,145
46,176
96,319
31,198
41, 734
144,593
67, 666
110, 895
37, 343
51, 659
128,152
34, 608
93, 040
37, 420
48, 346
115,857
47,407
90, 949
35, 551
47,856
101, 246
65.0
78.0
74.0
72.0
72.0
74.0
73.0
67.0
66.0
67.0
69.0
69.0
66.0
6.0
21
108
66.0
21
8.0
21
50
75.0
20
5.0
23
52
73.0
19
4.0
25
55
60.0
18
5.0
30
63
51.0
20
2.0
26
58
58.0
26
8.0
24
54
69.0
26
7.0
22
46
73.0
25
2.0
56
85
71.0
21
5.0
25
89
72.0
21
6.0
23
91
74.0
22
5.0
23
100
74.0
19
4.0
20
108
65.0
17
100.9
118.9
102.6
101.0
118.9
102.6
104.2
101.0
118.9
102.6
104.2
101.0
118.9
102.6
104.2
101.0
118.9
102.6
104.2
101.0
118.9
102.6
104.2
101.0
118.9
102.6
104.2
101.0
118.9
102.6
104.2
100.9
118.9
102.6
104.2
100.9
118.9
102.6
104. 2
100.9
118.9
102.6
100.9
118.9
102.6
100.9
118.9
102. 6
0)
0)
FURNITURE
All districts:
Plant operations
percent of normal..
Grand Rapids district:
Orders:
Canceled
percent of new order..
New
no. of days' production..
Unfilled, end of month
do
Plant operations
percent of normal-.
Shipments
no. of days' production..
Prices, wholesale:
Beds, wooden
1926=100-Dming-room chairs, set of 6—
do....
Kitchen cabinets
do
Living-room davenports
do
Steel furniture (see Iron and Steel Section).
0)
0)
METALS AND MANUFACTURES
IRON AND STEEL
Iron and Steel Scrap
5,289
5,361
5,199
5,342
4,680
5,000
5,006
5,015
4,955
5,037
5,031
4,930
Consumption, total *
thous. of short tons.
2,990
3,007
2,938
3,034
2,600
2,763
2,792
2,812
2,846
2,779
2,856
2,796
Home scrap *
do
2,299
2,354
2, 261
2,308
2,080
2,237
2,214
2,203
2,109
2,258
2,175
2.134
Purchased scrap *
-do...
6,279
6,179
6,364
5,530
6,209
4,297
4,579
4,780
4,993
6,274
6,233
6,078
Stock, consumers', end of mo., total *
do...
1,670
1,688
1,682
1,460
1,699
1,185
1,286
1,337
1,388
1,600
1,653
1, 544
Home scrap *
__
do...
4,609
4,491
'
4,
571
4,070
4,510
3,112
3,293
3,443
3,605
4,674
4,580
4,534
Purchased scrap *
do...
1
p
No quotation.
Revised.
fFor 1941 and, in some instances, earlier revisions for the indicated lumber series, see pp. 27 and 28 of the March 1943 Survey: revisions in figures for January-April 1942
for total lumber and total softwoods (production, shipments, and stocks) and southern pine production, shipments, and new orders are given in note marked "f" on p. S-29
of the July 1943 Survey.
*New series. For a description of the series on scrap iron and steel and pig-iron consumption and stocks and 1939-40 data, see note marked "*" on p. S-29 of the November
1942 Survey; later data are available on p. S-30 of the April 1942 and subsequent issues.
S-30
SUEVEY OF CUKKENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the June
1942 Supplement to the Survey
June
July
1942
SepAugust tember
August 1943
1943
October
Novem- December
ber
January
February
April
March
May
METALS AND MANUFACTURES—Continued
IRON AND STEEL—Continued
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
Pig Iron and Iron Manufactures
Castings, malleable:
Orders, new, net
short tons..
Production
do
Shipments
do
Pig iron:
Consumption*
thous. of short tons..
Prices, wholesale:
Basic (valley furnace)
dol. per long ton..
Composite
do
Foundry, No. 2, Neville Island*
do
Production*
thous. of short tons..
Stocks (consumers' and suppliers'), end of
month*
thous. of short tons._
Boilers, range, galvanized:
Orders, new, net
number of boilers..
Orders, unfilled, end of month
do
Production
do
Shipments
do
Stocks, end of month
do
Steel, Crude and Semimanufactured
Castings, steel, commercial:
Orders, new, total, net
short tons..
Railway specialties
do
Production, total
do
Railway specialties
do
Steel ingots and steel for castings:
Production
thous. of short tons..
Porcent of capacity!
Prices, wholesale:
Composite, finished steel
dol. per lb__
Steel billets, rerolling (Pittsburgh)
dol. per long ton_.
Structural steel (Pittsburgh)
dol. per lb._
Steel scrap (Chicago)
dol. per long ton..
U. S. Steel Corporation, shipments of finished steel products
thous. of short tons.J
Steel, Manufactured Products
Barrels and drums, steel, heavy types: 1
Orders, unfilled, end of month thousands..
Production
do
Shipments
thousands..
Stocks, end of month
do
Boilers, steel, new orders:
Area
thous. of sq. ft..
Quantity
number. .
Porcelain enameled products, shipments!
thous. of doL.
Spring washers, shipments
do
Steel products, production for sale:0
Total
thous. of short tons..
Merchant bars
do
Pipe and tube
do
Plates
do
Rails
do
Sheets
do
Strip:
Cold rolled
do
Hot rolled
do
Structural shapes, heavy
do
Tin plate
do
Wire and wire products
do
NONFERROUS METALS
Metals
Prices, wholesale:
Aluminum, scrap, castings (N.Y.) dol.per lb_.
Copper, electrolytic (N. Y.)
do
Lead, refined, pig, desilverized (N.Y.)..do
Tin, Straits (N. Y.)
do....
Zinc, prime, western (St. Louis)
do
Miscellaneous Products
Bearing metal (white-base antifriction), consumption and shipments, total (59 manufacturers)
thous. of lb.
Consumption and shipments, 37mfrs.:
Consumed in own plants
do
Shipments
do
Sheets, brass, wholesale price, mill.. dol. per lb__.
23, 273
2,825
7,034
12, 625
30,931
27, 664
3,267
7,176
13, 405
37, 327
33, 289
4,038
7,155
13, 236
43, 236
38,124
5,112
7,140
11,848
48, 422
42, 548
5,874
7,599
11,417
52,667
45, 883
6,784
7,456
7,582
53, 703
46, 552
7,151
7,759
636
47, 424
40,604
6,821
7,765
0
39, 743
33, 815
5,927
7,104
0
32, 743
27, 642
5,101
7,723
0
25, 088
21,150
3,938
83, 815
69,092
70, 565
55, 032
59, 990
59,144
63, 651
61,434
59,120
63, 978
56, 304
56, 651
87, 697
61,021
58, 977
70, 907
68, 251
65, 457
74,080 ! 93,824
59,287 66,177
58,484 I 63,703
73, 524
63, 572
59, 557
88,970
66, 401
67,895
4,883 | 5,001
5,057
23.50
24. 23
24.00
5,201
23.50
24.23
24. 00
' 5,194
6,940
11,864
7,186
1,955
18, 497
15, 682
2,815
7,374
10, 975
21, 297
18, 520
2,777
87,809
78,143
76, 526
74,141
72, 559
70, 744
79, 983
69, 959
69,146
4,661
5,219
4,954
5,052
23.50
24.23
24.00
4,766
23.50
24.23
24.00
5,314
23.50
24.23
24.00
5,035
23.50
24.20
24.00
5,178
I
4,869
4,959
4,935
4,836 | 5,145
23. 50
24.17
24.00
4,836
23. 50
24.20
24.00
4,936
23.50
24.20
24.00
5,051
23.50
24.20
24.00
5,009
23.50
24.20
24. 00
4,937
1,257
1,296
1,272
1,284
1,266
1,334
1, 425
1,458
1,534
1,512
1,486
1,487
89, 821
99, 679
83, 596
82, 279
14, 539
30,481
52,652
39,171
40, 538
11,015
22,955
34, 672
40.181
40, 935
10, 561
46, 025
39, 324
40, 454
41,373
9,646
41, 779
35, 879
43, 410
45, 224
7,832
43, 829
42, 597
35, 681
37, 111
6,402
40,130
45, 737
37, 353
36, 990
6,765
33, 700
36, 474
42, 913
42, 963
6, 715
55, 239
56, 6S7
41, 266
40. 926
7, 259
58, 646
66, 704
47,919
48, 629
6,549
68,051
75, 763
60,177
58,992
7,734
76,198
94, 318
58, 841
57, 643
8,832
64, 274
92,137
70, 845
66, 455
13, 222
191,217
17,658
151,530
12, 832
202,731
' 34,064
176, 470
«• 17, 777
7 ,424
97
6,826
7,670
100
0265
. 0265
.0265
208,885 202,334 141,239
11, 218
3,610 -13,480
132,053 135, 700 139,184
12,988
21,658
16,251
23.50
24.20
24.00
5, 237
23.50 I
24.20 I
24.00 !
5,084
177,478 179, 537 173, 285
9,385
7,708
13, 546
139,774 152,080 140,399
11,133
13,979
12,051
7,027
95
7,015
96
7,145
95
7,228
95
7,058
96
.0265
.0265
.0265
.0265
34.00
.0210
18.75
34.00
.0210
18.75
34. 00
.0210
18.75
34.00
.0210
18.75
1, 766
1,789 ! 1,704
1, 652
1,749
1,741
42
1,402
1,760
1,760
42
1,506
1,536
1,538
40
1,704
1,838
1,823
56
5,050
1,445
2,130
1,162
2,298
1,076
1,812
2,377
4,239
302
4,023
324
5,062
489
488
1,002
162
676
5,107
439
387
990
186
642
_n !
5,170
392
396
1,089
188
557
107
280
220
364
76
101
469
329
362
.0738
.1178
.0650
.5200
.0825
172,263 '213 ,130
15,446
23 ,020
143,860 •"154,736
11,440
10, 785
7,305
97
165. 792 192, 531
20,461 19, 951
163,812
161,403
r
17, 467 21, 424
r
7,374
7,545
7,580
100
7,180
98
.0265
.0265
.0265
,0265
34.00
.0210
18.75
34.00
.0210
18.75
34.00
.0210
18.75
34. 00
.0210
18.75
34.00 ; 34.00
34.00
.0210 ! .0210 .0210
18.75 ;
18.75 18.75
1,666
1,850
1,686 |
!
1, 215
1, 498
1, 504
49
1, 671
1, 388
1, 386
49
2y 696
\ 426
1, 419
56
3,448 i
1,269 j
1,279 i
4,139
1,574
1,595
45
48 j
4,201
2,005
1,990
60
3,956
2,338
2,772
1,086
2,201
819
557
380
3,104
321
2,489
353
2,603
357
2,605
348
2,472
326
5,048
439
404
1,062
182
521
4,999
449
405
1, 035
178
583
3,195
382
5,141
494
427
1,062
186
711
595
2.464 j
732
917 |
2,460 ' 2,324
334
300
1,259
1,043
3,357
317
1,914
874
2,652
336
4,716
481
410
964
175
679
4,917
493
412
1,016
169
735
5,054
525
437
1,095
180
717
4,781
457
449
1,020
165
704
5,516
580
510
1,127
172
790
5,132
523
512
1,068
155
701
5,156
501
498
1,066
154
666
65
89
470
216
348
68
82
439
194
345
74
89
439
140
346
75
92
417
113
348
396
101
327
83
115
355
127
356
91
111
345
157
345
83
108
303
152
345
100
124
327
185
397
98
114
312
169
357
97
111
320
203
359
.0875
.1178
.0650
.5200
.0825
.0875
. 1178
.0650
.5200
.0825
.0875
.1178
.0650
.5200
.0825
.0875
.1178
. 0650
.5200
.0825
.0857
'. 1178
.0650
. 5200
.0825
0813
1178
0650
5200
0825
.0813
.1178
.0650
.5200
.0825
.0813
.1178
.0650
.5200
.0825
.0813
.1178
.0650
.5200
.0825
.0813
.1178
.0650
.5200
.0825
.0813
.1178
.0650
.5200
.0825
.0813
.1178
.0650
.5200
.0825
4,136
3? 163
3, 605
2.907
3,296
3, 459
3. 176
3 605
3,453
3. 687
4,175
4, 351
4,315
601
1,989
.195
463
1,646
.195
657
1,826
.195
649
1,310
.195
699
1,453
.195
744
1, 760
195
596
1, 623
19")
528
1 970
195
641
1.526
.195
513
2,013
.195
544
2,262
.195
632
1,961
.195
655
2,058
.195
1,553
1,692 j
1, 772
.0265 !
.0265
34.00
.0210
18.75
34.00
.0210
18.75
1, 631
1,707
'4,793 1
r 2, 132
r 2, 108
86
5,708
2,233
2.233
83
r 5,839
r 1, 364
••Revised. i Cancelations exceeded new orders by the amount shown above as a negative item.
§Beginning January 1943, percent of capacity is calculated on annual capacity as of Jan. 1,1943, of 90,288,860 tons of open-hearth, Bessemer, and electric steel ingots and
steel for castings; earlier data are based on capacity as of Jan. 1 or July 1, 1942; see note in October 1942 Survey.
ifCoverage increased in 1943; manufacturers reporting in 1943 accounted for approximately 98 percent of the total value of these products reported at the 1939 Census.
•For data through March 1942, see the October 1942 and earlier issues of the Survey: April 1942figuresare available on request.
tOf the 99 manufacturers on the reporting list for Jan. 1,1942, 24 have discontinued shipments of these products for the duration of the war.
•New series. For sources of earlier data on pig iron consumption and stocks and a description of^the data see note marked "*" on p. S-29. The new series on blast furnace
production of pig iron, including blast furnace ferro-alloys, is from the American Iron and Steel Institute and is approximately comparable with data from the Iron Age in the
1942 Supplement (data in the Supplement are in short tons instead of long tons as indicated), but include charcoal furnaces; ferro-alloys produced in electric furnaces are not
included; for 1941 monthly average from American Iron and Steel Institute and data beginning January 1942, see p. S-30 of the May 1943 Survey. The new pig iron price,
f. o. b. Neville Island, replaces the Pittsburgh price, delivered, shown in the Survey prior to the April 1943 issue; 1941 average, $24.00; earlier data will be shown later.
S-31
SURVEY OF CURRENT BUSINESS
August 1943
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
1943
1942
June
September
June
July
August
1943
October
Novem- December
ber
January
February
March
April
May
METALS AND MANUFACTURES—Continued
MACHINERY AND APPARATUS
Blowers and fans, new orders
thous. or doL.
Electric overhead cranes:
Orders, new
do
Orders, unfilled, end of month
do
Shipments
_
_._do___.
Foundry equipment:
New orders, net total
1937-39=100..
413.6
New equipment
do
355.6
Repairs
do
609.2
Fuel equipment and heating apparatus:
Oil burners:
Orders, new, net
number..
Orders, unfilled, end of month
.do
Shipments..
do
Stocks, end of month
.do
Mechanical stokers, sales:t
Classes 1, 2, and 3
do
2,106
Classes 4 and 5:
Number
479
Horsepower
.
109,520
Unit heaters, new orders
thous. of doL.
Warm-air furnaces, winter air-conditioning
systems, and equipment, new orders
thous. of dol...
Machine tools, shipments *
do
Pumps and water systems, domestic, shipments:
Pitcher, other hand, and windmill pumps
31,139
units .
280
Power pumps, horizontal type
...do
11,712
Water systems, including pumps
do
Pumps, steam, power, centrifugal, and rotary:
Orders, new...
thous. of doL_
13, 658
22, 500
10, 685
9,672
2,835
34,190
2,768
4,058
34,958
2,722
3,355
35,072
2,701
1,160
32,883
3,002
2,170
31,436
3,030
1,228
29,118
2,912
551
26,413
3,112
1,581
25,358
2,534
502
22, 699
3,131
1,128
20,845
3,313
1,005
17,134
2,612
333
14,654
2,713
774.0
884.4
441.5
800.8
909.1
474.0
510.8
536.7
433.0
446.4
452.4
428.4
540.6
552.2
505.5
338.8
286.1
497.7
382.5
319.8
571.3
429.8
394.9
534.9
399.5
348.1
554.4
562.7
538.6
635.2
362.7
297.7
558.7
348.9
274. 3
573.7
9,809
19,176
8,441
40,170
8,484
19,000
8,660
39,122
8,100
19,066
8,034
39,323
8,589
18,430
9,225
36,858
10, 761
20, 799
37, 416
7,945
21,138
7,606
37,149
7,910
20,713
8,335
36, 513
9,617
22,827
7,503
36,661
7,285
24,160
5,952
41, 221
6,347
23,146
7,361
35, 429
7,125
24,351
'
5,920
r
34,985
3,816
22,139
6,028
34,137
11.365
7,040
7,961
8,723
5,548
1,994
1,447
1,808
2,183
1,960
1,932
1,926
419
98, 027
4,507
428
105,278
389
90, 344
373
81,991
6,094
438
76,208
453
109,598
395
76,087
5,282
682
588
687
78, 571 118, 531 126,318
4,014
532
97,953
510
97, 529
130, 008 120,871
5,452
131,960
117,384
5,956
117, 342 119,883
5,463
111,090
113, 596
29,958
86
22, 662
42,932
131
22, 459
32,163
126
18, 610
24,148
68
20,052
26,192
104
19, 792
7,041
67
3,393
14, 305
188
4,965
18,122
163
8,106
5,703
5,797
6,417
5,494
5,243
8,229
9,421
8,318
66
161
90
155
205
145
221
142
202
144
211
146
312.3
779.0
325.9
627.0
151
148
330.6
805.4
371.7
366.7
390.0
322.0
376.0
394.0
215.3
223.4
198.5
212.8
186.0
160.0
114,593
r
r
2,630
125, 445 118, 024 113,710
25, 381 • 28, 668 33,600
190
224
159
9,514
8,772
7,311
32, 739
182
11,183
7,309
5,913
6,101
6,503
178
152
151
149
132
147
114
149
103
152
388.0
697.0
372.0
653.0
382.0
661.0
433.0
639.0
421.0
356.0
411.0
471.0
188.0
104.0
105. 0
138.0
'112.0
113.0
14,765
1,157
9,205
662
5,850
5,742
7,388
6,887
6,441
7,362
ELECTRICAL EQUIPMENT
Battery shipments (automotive replacement
only):
Unadjusted
1934-36= 100__
Twelve-month moving total
.do
Electrical products:!
Insulating 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, billings
____do
Polyphase induction, new orders.
.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_.
(0
5,904
4,873
1,441
70, 507
5,100
24, 796
2,133
31, 310
2,378
26, 528
2,237
20,297
1,534
13,321
1,357
29,879
1,845
10, 541
17, 201
1,287
16, 265
1,197
1,057,954
4,116
4,557
4,475
965,120
5,028
5,279
5,163
1,095,565
5,302
5,015
5,191
831,401
5,813
6,982
8,114
7,854
4,082
4,794
5,708
6,298
7,965
5,586
6,480
5,313
9,463
10,602
7,907
5,026
1,852
4,924
1,613
4,969
1,479
7,710
9,272
3,857
10,377
8,088
8,257
4,584
4,341
8,287
7,291
4,433
3,614
7,484
6,098
5,300
6,946
8,753
9,214
7,079
6,750
4,336
3,267
1,549
2,050
1,123
1,074
1,435
942
1,269
888
978
879
928
1,256
1,173
21,449
21,420
17,452
14,509
12, 389
12,126
9,102
9,613
5,056
1,650
4,551
1,620
7,855
11,932
3,225
13,494
8,052
10,949
3,413
8,407
1,375
1,716
22,656
4,303
1,378
4,067
1,204
4,219
1,351
4,364
1,581
4,832
1,614
4,314
1,465
4,707
1,595
PAPER AND PRINTING
WOOD PULP
Production :f
Total, all grades
short tons.. 727, 435 861,066 774,014 819,372 774,144 838,520 763,414 736, 670 755,069 719, 634 793,998 770,921 788, 486
Chemical:
Sulphate, total
do
319,942 404,112 370,810 398,460 371,796 392,821 348,313 332,679 349,217 331, 060 367, 410 -"355,324 368,032
Un bleached
do
264, 472 341,677 309,654 329,413 299,910 317,980 278,360 266,238 278,534 271,264 304, 363 292, 973 303, 550
Sulphite, total
do
210, 506 251, 380 224,179 239, 660 226, 093 241,946 216,902 208,883 208,302 210, 685 215,849 212, 331 217, 313
Bleached
.
do
135,148 147,651 132,224 144,930 132,724 147,973 134,214 127,291 129,033 126, 549 138, 335 136,946 141, 756
34, 947
Soda
do
35,533
35,000
34,000
34,946
31, 099
33,284
33, 391
38,898
34, 794
36, 716
33, 810
36, 545
Groundwood
do
141, 770 155,326 131,706 130,761 126,037 144,933 143,421 141,909 140,500 133, 485 151,169 r 146, 419 147,799
Stocks, end of month:!
97, 595 r 97, 722 103,343
Total, all grades
do
102, 227 166, 318 170,104 185,828 175, 241 159,357 149, 299 143,983 129,405 111,459
Chemical:
12, 687
74,274 ' 65,248
Sulphate, total.
do
59,205
46,464
31, 589
16, 508 r 14,918
28, 521
61,576
72,816
10,894
39,215
8,284
Unbleached
.
..do
11,074
7,963
22,190
56, 988
67,118
56,480
50,250
37, 776
25, 074
12,432
35, 258
66,067
28,352
Sulphite, total
do
25, 951
27,971
39,610
41, 492
47,838
41, 345
35, 745
36,843
38,963
35,694
30, 336
28, 666
18,
600
Bleached.
__
.do
16,
367
21,434
20,136
21,382
22,089
16,898
17,713
26,892
31,948
17, 826
23,263
25,969
2,785
2,558
3,175
3,529
Soda
do
4,392
3,398
2,858
3,717
2,700
4,064
3,619
4,386
4,395
56,
785
r
51,
389
Groundwood.
do
42,404
39,
624
43,048
54,754
40,865
40,
940
46,
435
58,080
92,694
70,174
84,155
r
Revised. l Discontinued by the reporting source.
^Of the 101 firms on the reporting list in 1941, 20 have discontinued the manufacture of stokers; some manufacture stokers only occasionally.
fRevised series. A new method has been employed in the construction of the indexes for electrical products to overcome a strong upward bias in the two series on orders
received, and, in addition, the number of products composing the individual indexes has been increased. For revised 1941 monthly averages see note marked " t " on p. S-30
of the April 1943 Survey and for revised monthly data beginning November 1941, see p. S-30 of the January 1943 issue; earlier data will be published in a subsequent issue.
Wood pulp production statistics have been revised beginning January 1940 and stocks beginning January 1942; for revisions through March 1942, see p. 30, table 8, of the
June 1943 Survey.
*New series. For 1940 and 1941 data for machine tool shipments and a description of the series, see p. S-30 of the November 1942 issue.
S-32
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the
Juno
1942 Supplement to the Survey
August 1943
1942
July
June
August
September
1943
October
Novem- December
ber
January
February
March
April
May
PAPER AND PRINTING—Continued
PAPER
Total paper, incl. newsprint and paperboard:
Production
short tons._
Paper, excl. newsprint and paperboard:
Orders, new
..short tons..
Production
_
_ .do
Shipments
do
Fine paper:
Orders, new
do
Orders, unfilled, end of month
do
Production
„
do
Shipments
__
do
Stocks, end of month.
do
Printing paper:
Orders, new
do
Orders, unfilled, end of month
__.do
Production.—
.do
Shipments
do
Stocks, end of month.
do
Wrapping paper:
Orders, new
do
Orders, unfilled, end of month
do
Production
_
do
Shipments
...do
Stocks, end of month
do
Book paper:
Coated paper:
Orders, new.,percent of standard capacity..
Production
...do
Shipments
do
Uncoated paper:
Orders, new
do
Price, wholesale, " B " grade, English finish,
white, f. o. b. mill.__
dol. per 100 lb._
Production..percent of standard capacity..
Shipments
do
Newsprint:
Canada:
Production
short tons. _
Shipments from mills
do
Stocks, at mills, end of month
do
United States:
Consumption by publishers
short tons..
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:
Orders, new
.do
Orders, unfilled, end of month
do
Production
do
Percent of capacity
Waste paper, consumption and stocks:
Consumption
short tons..
Stocks at mills, end of month
do
,088,223
990,386 1,076,589 1,067,024 1,205,873 1,097,445 ,1,107,547
423, 978
485,029
473,008
402,993
434, 626
431, 207
425, 825
463, 337
437,946
452, 683
457, 365
452, 323
35, 479
49, 485
52,850
50, 403
46, 064
39, 486
40, 782
46, 763
45, 071
47,002
42,805
36, 354
45,917
44, 285
48,775
43, 612
35, 657
45, 360
44,448
49, 553
137, 689
87,107
141, 595
139,881
100,832
134, 508
78,511
133, 798
141, 394
92,881
143,837
80, 572
143,658
141,885
94,650
167,470
111,161
191, 782
187, 537
80,963
160,105
100, 290
175, 557
167, 497
86,815
158,618
93. 863
182,836
164,092
102,317.
30.2
37.0
35.1
32.3
30.7
32.7
36.4
34.0
35.8
71.1
74.9
78.6
7.30
554,191
514, 231
511,460
1,131,925 1,096,530 1,250,818 1,202,553 1,211,728
510,260 497,048 513,361 486,846 •549,592 ••498,700
467,090 473,162 485, 757 463, 535 509,204 •484,104
471,924 490, 217 482, 607 469, 454 • 518, 986 493,510
52,106
48,101
48,274
47,885
49,017
50,495
49,892
48,545
49, 578
45, 692
153,122
82, 249
148, 520
151, 884
91, 502
56,066
53,132
50, 213
51, 553
42, 616
192, 283 174,633 174,515 164, 400
99,025 111,631 121,551 119,959
177, 981 160, 457 157,532 164, 468
175,194 164, 263 167,963 165, 938
75, 524 73, 233
90,829 86,651
165, 769
99, 334
169, 643
161, 266
111,204
195, 215
116,100
183,488
180,037
116,007:
47.4
45.2
64,588
44,983
52, 787
53, 935
48,614
53,109
58, 960
47,373
48, 231
41,851
' 60,130
r 80, 386
r 50,679
' 52, 592
r 38,437
59, 560
87, 393
52,035
53, 319
37, 768
162, 272
124, 841
158, 588
156, 641
76, 533
68, 826
75, 418
52, 259
53, 481
40, 661
180,176
134,564
172, 064
169,413
74,186
161,950
132,096
162,267
163, 601
72, 200
157,483
128,136
159,413
161,252
70, 367
183, 022
174,858
180,155
183, 026
85, 731
187,773
138,215
163,393
164,521
118,742
174,198
140, 841
166,015
172,137
112,061
190,145
156,074
173,517
179,100
107, 581
179, 799
166, 202
165, 274
168, 757
104,312
200, 667
171,848
182, 732
193,247
95, 227
183, 845
174, 557
173, 524
179,717
89, 322
59.7
51.3
51.8
62.7
50.3
54.0
55.3
52.6
53.0
53.7
54.4
55.9
60.8
55.3
59.5
62.6
59.5
59.7
66.5
61.2
59.3
105.3
97.5
97.5
92.6
94.1
89.0
7.30
86.1
91.4
7.30
93.6
90.4
7.30
92.5
92.1
7.30
90.1
90.9
7.30
96.3
95.0
7.30
90.7
92.9
7.30
89.6
89.9
489,125
487, 760
495, 400
7.30
73.9
74.7
7.30
72.7
76.7
7.30
79.2
79.5
7.30
85.3
257, 845
268, 990
79, 229
242, 762
253, 283
158, 888
241,178
243,620
156,446
253,239
255, 563
154,122
257, 618
292, 405
119,335
271,555 251,147 244,191 233,544
295, 625 255,087 243, 530 215,016
95, 265 91, 325 91,986 110,514
228, 450
54.00
70, 274
71, 944
222, 244 210, 549
50.00
50. 00
79,386
76, 952
78,413
76,181
223,189
50.00
79,885
79, 556
231, 691
50. 00
77,962
83, 560
254,349 260, 542 252,399 226, 741 208,143
50.00
50.00
50. OP
50.00
50.00
69, 792 64,358
84,217 75,065 74,655
60,147
85,458 76, 207 75, 222 69,691
10, 978
347, 350
62,197
17,049
402/401
36,442
17,820
418,985
35,454
18,149
430.409
40, 270
12, 551
455,263
52, 538
11,310 10,168
470,852 447,396
58,655 60,108
672, 371
580, 683
627, 761
94
466,173 464,293
223,809 213,443
523,808 478,808
69
68
523,648
212,953
529,214
75
555,071
236,208
535,850
76
660 89,0 613, 746 615,184 629,900
272,006 321,885 379, 573 413,084
607,425 555, 290 559,730 576,376
81
82
86
77
296,938
414,775
283,040
428,067
304,215
422,958
312, 279
420,465
343,460 316,454 331,895
424,451 408, 753 394,527
637
537
100
709
537
172
809
642
167
739
582
157
7.30
221,807 246, 855 229,573 : 254,046
222, 383 248, 469 243,813 ! 257,756
109, 938 107, 324 94,084 90, 374
237, 111 243, 281 248, 255
54.00
54.00
54. 00
68, 707
71, 357 68,001
70,368
67,138
71, 824
12, 648
13, 446 11,079
9,702 13,913
9,601
429, 255 391,102 381, 466 377, 790 361,553 339. 299
58,
820
53,
774
57,
680
50,094 66, 707 63,166
344,388
374,301
616,167
454,308
568,637
88
723, 296 686,179
511, 220 525, 287
670, 257 650,448
94
94
350, 885 393, H34
355,044 341,097
8
690, 364
545, 673
655, 261
96
(2)
PRINTING
Book publication, total
no. of editions..
New books
do
New editions
do
Continuous form stationery, new orders
thous. of sets.. .]
Sales books, new orders
thous. of books. _
679
531
148
969
821
148
842
693
149
702
594
108
671
60-2
69
731
528
203
693
565
128
668
538
130
188,437 i 150,392 j 227,722 1238,529 1283,108 1236,362 230,646 1209,460 1250,410 451,613
20,051 ! 16,4.50 ! 17,235 i 16,047 i i 21,602 j i 23,22916, 726 I i 19,196 i 25, 707 i 20, 604
238,
848
701
147
720
PETROLEUM AND COAL PRODUCTS
COAL
Anthracite:
Prices, composite, chestnut:
Retail
dol. per short ton..
10.795
Wholesale
__,
do
3,227
Production
thous. of short tons..
Stocks, end of month:
186
In producers' storage yards
do
In selected retail dealers' yards
14
number of days' supply..
Bituminous:
Industrial consumption and retail deliveries,
total
thous. of short tons.. 42, 771
35, 271
Industrial consumption, total
...do
672
Beehive coke ovens
do
7,178
Byproduct coke ovens...
do
Cement mills
do
473
Coal-gas retorts
do
12*
6. 023
Electric power utilities
do
9, 855
Railways (class I)
do
824
Steel and rolling mills
.do
Other industrial
.do
10,120
Retail deliveries
do
7,500
Other consumption, coal mine fuel
do
168
Prices, composite:
Retail (35 cities)
dol. per short ton..
Wholesale:
Mine r u n . .
...do
5.055
5.324
Prepared sizes
do
f
Revised.
* Beginning September 1942, 3 companies,
3
Discontinued by the reporting source.
12.48
10.346 |
5,122 j
12.48
10. 346
5,341
12.48
10. 344
5,180
12.48
10. 344
5,426
12.49
10. 344
5,101
12.49
10. 344
4,795
12.49
10. 383
4,611
13.13
10. 661
4,314
13.14 13.13
10.801! 10.811
5,092
5,824
13.14
10.811
5,437
13.16
10.812
5,240
173
173
140
181
289
472
608
792
798
542
379
216
28
35
39
45
60
64
33
21
19
15
49, 217
38, 207
1,055
6,969
547
137
5,370
10, 568
1,021
12, 540
11,010
237
53, 387
41,514
1,186
7,647
552
149
5,965
11, 689
1,046
13, 280
11,873
273
9.83
9.86
4.949
5.208|
'5.021
'5.239
' 5. 033
r 5. 276
40, 269
33, 289
1,059
7,229
640
139
5,175
8,921
766
9,360
6,980
257
39,856
34,306
1,080
7,504
660
125
5,712
9,077
758
9,390
5,550
253
40,296
34,686
1,087
7,508
663
139
5,672
9, 368
769
9,480
5,610
250
42,228
35, 038
1,088
7,294
678
137
5, 661
9,465
775
9,940
7,190
258
45, 500
37,800
1,126
7,542
714
149
5,787
10, 279
843
11,360
7,700
247
45,407
37, 707
1,041
7,334
678
146
5,570
10, 271
867
11,800
7,700
229
52, 272
41,142
1,071
7,583
645
155
6,159
11,155
1,034
13,340
11,130
234
53,407
41,437
1,044
7,682
571
157
5,981
11,443
1,049
13,510
11,970
228
9.49
9.52
9.52
9.54
9.54
9.55
9.56
9.63
4.775
4.939
4.782
4.989
4.787
5.021
4.797
5.050
4.805
5.097
4.815
5.131
4.858
5.177
4.866
5.180
formerly accounting for about. 7 percent of the total, discontinued reporting.
18
48,152
38, 572
1,080
7,494
468
139
5, 493
10, 761
937
2,200
9, 580
242
' 45. 369
• 37, 449
r 1, 034
7,666
495
' 136
5, 500
p
10,751
'877
10, 990
7,920
232
5.045
' 5. 317
S-33
SURVEY OF CURRENT BUSINESS
August 1943
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data. may be found in the
June
1942 Supplement to the Survey
1942
June
July
August
September
1943
October
Novem- December
ber
February
January
March
April
May
PETROLEUM AND COAL PRODUCTS—Continued
COAL—Continued
Bituminous—Continued.
Production!
thous. of short tons.. 34, 650
Stocks, industrial and retail dealers, end of
month, total
thous. of short tons.. 74,028
Industrial, total
do.. _ _ 67,178
Byproduct coke ovens
do
7,141
Cement mills
do
648
Coal-gas retorts
do
352
18, 821
Electric power utilities.do
11,964
Railways (class I)
do
962
Steel and rolling mills
do
Other industrial
do
27,290
Retail dealers, total
do
6,850
COKE
Price, beehive, Connellsville (furnace)
dol. per short ton..
6.500
Production:
Beehive
thous. of short tons..
428
Byproduct
do
5,062
Petroleum coke
do....
Stocks, end of month:
Byproduct plants, total
do
843
At furnace plants..
do
602
At merchant plants
do
241
Petroleum coke
do
PETROLEUM AND PRODUCTS
Crude petroleum:
Consumption (runs to stills)...thous. of bbL.
Price (Kansas-Okla.) at wells...dol. per bbL.
1.110
Production!thous. of bbl__
Refinery operations
...pet. of capacity..
Stocks, end of month:
Refinablein U. S.f
--thous. of bbL.
At refineries
do
At tank farms and in pipelines
do
On leases!
do
Heavy in California.
do
Wells com pleted f
number..
Refined petroleum products:
Gas and fuel oils:
Consumption:
Electric power plants
thous. of bbL.
1,156
Railways (class I)
do
Price, fuel oil (Pennsylvania)._dol. per gaL.
Production:
Gas oil and distillate fuel oil
thous. of bbL.
Residual fuel oil
do
Stocks, end of month:
Gas oil and distillate fuel oil
do
Residual fuel oil
.do
Motor fuel:
Prices, gasoline:
Wholesale, refinery (Okla.).dol. per gal..
.059
Wholesale, tank wagon (N. Y.)
do
. 161
Retail, service stations 50 cities.—_do-...146
Production, totaltt
thous. of bbl.Straight run gasoline!-.-.
do
Cracked gasoline
..do
Natural gasolinett
do
Natural gasoline blended
do
Retail distribution!.
mil. of gal..
Stocks, gasoline, end of month:
Finished gasoline, total
thous. of bbL.
At refineries
do
Unfinished gasoline
..do
Natural gasoline
do
Kerosene:
Price, wholesale, water white, 47°, refinery
(Pennsylvania)
dol. per gaL.
.070
Production
thous. of bbL.
Stocks, refinery,"end of month
do
Lubricants:
Price, wholesale, cylinder, refinery (Pennsylvania)
dol. per gal.160
Production
thous. of bbL.
Stocks, refinery, end of month
do
Asphalt:
Production
do
Stocks, refinery, end of month. _
do
Wax:
Production
thous. of lb.
Stocks, refinery, end of month
do
Asphalt prepared roofing, shipments:
Total
thous. of squares..
Grit surfaced
doo
Ready roofing
do.
do. :l:
Shingles, all
t y p e s d
T
48, 220
47,832
47,851
49, 843
51, 791
47, 474
49,595
47,029
48,920
56,450
49,900
47,855
73, 271
65, 691
9,866
972
369
16, 876
12, 223
1,145
24, 240
7,580
77, 583
69, 003
9,922
1,040
386
17, 339
12.898
1,178
26, 240
8,580
82, 686
73,186
10, 238
1,074
402
18,165
13,462
1,235
28, 610
9,500
87,311
77. 261
10, 566
1,081
409
19, 872
13, 542
1, 251
30, 540
10, 050
89, 937
79,057
10,998
1,092
413
20,452
13,663
1.239
31, 200
10, 880
90,874
79,244
1.1,151
1,052
435
20, 607
13, 293
1, 206
31, 500
11, 630
85, 889
75,699
10, 721
998
439
19, 982
12, 579
1,140
29, 840
10,190
79, 379
71,079
9.958
851
414
19, 276
11,575
1,085
27, 920
8,300
76, 626
69, 366
9,778
818
371
19, 056
11, 364
1,069
26, 910
7,260
77, 292
70, 412
9,851
817
361
19, 204
12,149
1, 120
26,910
6,880
78,667
71,927
9, 732
782
374
19, 703
13,175
1,161
27,000
6, 740
79, 525
72, 485
9,219
755
370
20,009
13, 475
' 1,107
27, 550
7,040
6.000
6.000
6.000
6.000
6.000
6.000
6. COO
6. 000
6.375
6.500
6.500
6.500
'719
r 5, 105
88
688
5, 278
101
692
5,315
111
5,163
108
718
5,339
123
663
5,191
122
682
5,368
142
665
5, 395
113
672
4,903
93
755
5,427
98
688
5,276
102
'659
5,401
105
1, 405
969
435
182
1,469
999
470
175
1,564
1,026
539
179
1,614
1.021
593
173
1,606
955
651
184
1, 646
917
728
198
1,511
882
629
234
1,269
816
453
273
1,069
757
312
276
866
636
230
294
953
743
210
310
949
720
229
315
105,376
1.110
108, 595
77
111,555 114,135 113,474 116, 381 112, 368 113,342 111,606
1.110
1.110
1.110
1.110
1.110
1.110
1.110
111. 782 120, 429 115, 801 120,311 116,101 120, 519 117, 227
80
82
82
80
79
83
101, 935
1.110
108, 399
79
112,013
1. 110
121, 560
79
111, 945
1.110
119,000
81
251,421
47, 551
191.353
12, 517
10, 892
726
245, 026 244,125 240, 043 237, 361 234,100 234, 354 234, 423
46, 919 46, 435 44,569
43, 552 42, 699 43, 620 44,213
185.797 184, 757 182,825 181,203 178, 405 177, 904 176,956
12,310
12, 933 12, 649 12, 606 12, 996 12, 830 13, 254
10, 950 10, 706 10,167
10, 868 10, 724 10,865
10, 804
804
745
765
833
817
836
688
237,075
44,874
179,119
13, 082
10, 394
638
242,181
46, 426
182, 709
13, 046
10, 402
706
242, 934
47, 639
182, 313
12, 982
9,674
767
115,005
1.110
123,854
82
243,880
47, 562
183,074
13, 244
9,748
720
923
6,427
.059
1,211
6,747
.059
1,349
6,985
.059
1,431
7,131
.059
1,331
7,798
.059
1,112
7,808
.059
1,281
8,341
.059
1,317
8,145
.059
1,108
7,485
.062
1,194
8,382
.063
1,043
7,861
.063
'1,092
7,802
.065
15,210
28, 352
16,149
30,096
17,052
30,446
18,062
30,402
18,858
31, 239
17, 562
31,311
18,073
31,890
17, 306
32, 544
16, 240
30, 799
17, 288
32, 700
16, 690
34,095
16,075
33, 732
32, 501
66,341
37, 729
66, 935
42,918
67,613
45,817
69,264
49, 701
68,873
50,709
66,664
44,940
61, 783
39,014
60,808
35, 298
59, 657
31,135
57, 280
30,674
57, 381
30, 665
57, 757
.056
.160
.154
45,887
17.404
22, 423
6,558
4,423
'2,083
.058
.186
.153
49,302
19,088
23, 946
6,804
4,577
'2, 178
.059
.166
.144
51,105
19,192
25, 387
7,028
4,909
' 1,994
.059
.161
.144
49, 389
19,088
23,882
6,998
5,108
'2,025
.059
.161
.144
51,495
19, 997
24,905
7,256
5,455
'2,017
.059
.161
.144
50, 018
19,116
24,433
7,156
4, 989
' 2,074
.059
.161
.145
48, 800
18,891
23,225
7, 516
4,929
' 1,483
.059
.161
.145
47, 236
17,309
23,391
7,360
4,425
' 1,489
. 059
. 161
. 145
43, 280
15, 426
21, 947
6, 840
4,326
' 1, 481
.059
. 161
. 145
46, 653
16, 797
23, 297
7, 557
4,907
1,641
. 059
.161
.145
46.025
15, 290
24, 264
7,371
4, 986
1,701
.059
.161
.145
48, 482
16,777
25,037
7,490
5,197
80,080
55,213
7,437
6,571
71,657
48,585
7,789
6,588
71,403
47, 924
8,123
6,405
69,293
46, 736
8, 853
6,056
67,669
46,158
8,953
5,424
64, 224
44,623
8, 992
4,996
70, 772
49,054
9,354
4,632
78,475
56,617
10, 202
4,904
82, 867
61. 873
9,981
4, 996
84, 077
62, 987
10,037
5,462
' 78, 653
58, 312
10, 923
5,425
73,137
51, 393
10, 750
5,407
.064
4,929
6,940
.063
5,134
7,480
.063
5,340
8,261
.063
5,421
8,203
.063
5, 907
.063
5, 759
8,770
.063
5. 351
7,537
.063
5,602
5,146
.063
5, 852
3,996
.066
6, 326
3,158
.069
6, 299
3,513
.069
6, 511
4,478
.160
3,231
8,756
.160
3,133
8,945
.160
3,141
9,301
.160
2,951
9,278
.160
3,057
9,421
.160
2,983
9,336
.160
3,049
9, 424
.160
2,935
9, 725
.160
2,780
9,771
.160
3,184
9,689
.160
3,107
9,474
.160
3,281
9,155
629, 300 619,500 631,800
436,000 396, 500 366,900
656,900
343,100
549,100
340,200
545, 800 436,000
411,000 499,800
390, 500
552, 700
483,100
671, 700
521,800
704,000
583,100
745,600
75, 320
86,240
59.920
86,520
64, 960
85,400
57,680
84,000
5.4, 600
81, 480
65, 240
83, 440
66, 920
84, 280
03,840
85, 680
5,774
1,847
2,283
1,644
4,926
1,555
2,060
1,311
5,400
1,547
2,666
1,187
3,767
1, 269
1,733
765
3,516
1,182
1, 567
767
3,411
1,221
1,429
762
3,673
1,294
1, 347
1,032
3,695
1,270
1, 331
1,093
!
517,800
513,800
57,960
69,720
50, 680
68,040
61,040
77,000
4,397
1,286
1,528
1,582
4,908
1,726
1,751
1,431
5,152
1,823
1,918
1,411
57,120
77,840
5,440
1,802
2,091
1,547
I
' Revised.
{Figures for the production of natural gasoline include total sales of liquefied petroleum gas as follows (thous. of barrels): 1942—June, 498; July, 536; Aug., 502; Sept., 579;
Oct., 663; Nov., 687; Dec, 832. 1943—Jan., 824; Feb., 829; Mar., 889; Apr., 755; May, 677; these data are not included in the total for motor fuel; similarly sales of liquefied
petroleum gas are included in the total production of natural gasoline but excluded from total motor fuel production in the revised 1941 figures referred to in the note marked
"t". Production of straight-run gasoline includes transfers of cycle products as follows: 1943—Feb., 104; Mar., 109; Apr., 145; May, 145; these data are not included in the total
for motor fuel.
tRevised series. Production of bituminous coal revised beginning June 1939; see note marked "f" on p. S-32 of the April 1943 Survey. Data for the indicated series of
petroleum products revised for 1941; for revisions see notes marked "t" on p. S-33 of the March and April 1943 issues. See also note marked "t" above.
§Data revised beginning 1941. Revisions not shown"above are as follows: 1941—Jan. 1, 844; Feb., 1,733; Mar., 2,006; Apr., 2,203; May, 2,425; June, 2,316; July, 2,551; Aug.,
2,579; Sept., 2,383; Oct., 2,327; Nov. 2,189; Dec. 2,219. 1942—Jan., 1,973; Feb., 1,735; Mar., 1,980; Apr. 2,023; May, 2,064.
S-34
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, together with explanatory notes and references
to the sources of the data, may be found in the
1942 Supplement to the Survey
1943
1942
June
September
July
June
August
August 1943
1943
October
Novem- December
ber
January
February
March
April
125, 258
119, 776
150,497
153, 639
12, 560
60
8,641
21,368
3,771
10, 293
54
8, 656
22,985
4,566
May
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE P R O D U C T S
Coated abrasive paper and cloth:
Shipments...
reams..! 138,181
115,910
121,187
135,030
11,895
58
12,702
22,084
5,462
16,022
79
18,250
22,609
5,809
16, 833
80
20, 501
18,979
5,528
17,605
85
21, 282
15, 268
4,493
13.433
13.224
13.263
13. 265
3,682
19,461
3,711
18, 760
3,682
19, 215
7,773
119.1
8,262
590
2,227
55
608
783
757
1,891
682
247
398
4,882
6,723
99.9
6,356
333
1,409
43
451
1,058
759
1,482
433
272
92
10, 008
5,949
88.4
6,336
383
1,577
40
416
839
853
1,379
328
295
195
9,528
4,550
4,924
6,179
3,779
'4,035
9,140
i 1,079
66.5
142,985 | 120,953
126,874
157, 573
145,123
PORTLAND CEMENT
Production
Percent of capacity
Shipments
Stocks, finished, end of month
Stocks, clinker, end of month
thous. of b b l . .
thous. of b b l . .
do
do
r
17, 541 ' 18, 293 • 16, 273 • 14,116
87
87
67
80
• 20,148 • 20,384 ' 14,653
r 8, 955
• 12.708 • 10, 625 • 12, 248
17,428
3,509
' 3, 606 r 2, 733 • 2,840
11,392
11,239
54
55
10,108
12, 757
• 24, 111 • 22, 579
4,926
r 5,312
12,384
*-v59
12,075
22,891
5,574
CLAY P R O D U C T S
Common brick, price, wholesale, composite,
f.o. b. plant
dol. per t h o u s . .
Vitrified paving brick:J
Shipments
thous. of brick..
Stocks, end of month
do...
13. 255
13.213
i8.2
6,921
546
1,837
33
320
738
1,164
1,253
329
270
401
9,139
6,328
97.8
6.897
818
1,632
31
315
647
1,095
1,286
361
286
395
8,490
98.3
7,005
511
1,845
49
350
625
1,172
1,662
455
276
29
8,299
3,183
3,915
8,411
4,498
4,532
8,196
3,829
8,239
4,500
4,888
7,837
2,494
2,397
3,048
3,606
4,608
4,726
1,223
75.3
4,194
1,274
78.5
3,863
1,075
66.2
4,741
1,097
67.6
4,924
i960
59.2
13. 215
13. 236
13.243
13.219
13. 260
13. 27'
• 13. 384
6,235
100.4
6,281
* 450
1,661
331
681
820
1,508
520
236
13
8,119
6,299
93.6
6,564
418
1,735
39
362
823
868
1,491
516
272
16
7,774
7,361
112.8
7,246
491
1,841
41
366
849
796
1,924
551
267
100
7,775
6,672
110.7
7,060
471
1,808
18
386
862
731
1,708
609
217
227
7,288
7,561
111.5
8,154
499
2,144
46
478
952
857
1,906
671
235
334
6,631
7,622
116.8
8,132
499
2,109
33
553
852
817
1,922
702
207
404
5,894
8,104
129.1
8,359
567
2,220
42
584
819
798
1,970
682
194
464
5,583
3,778
3,535
8,076
3,837
3,746
7,177
4,475
3,763
7,877
4,190
4,210
7,803
4,284
5,338
6,870
4,227
4,936
6,181
4,929
4,597
6,544
3,744
3,585
3,713
4,760
3,622
2,996
5,001
i 1, 297
79.9
4,910
» 1,166
71.8
4,775
1,113
68.6
5,237
i 1, 249
76.9
5,488
11,005
61.9
5,855
1942
58.1
GLASS PRODUCTS
Glass containers:
Production
____thous. of gross.
Percent of capacity
Shipments, total.
thous. of gross.
Narrow neck, food
do
Wide mouth, food
do...
Pressed food ware
do...
Pressure and nonpressure—
...do...
Beer bottles
do...
Liquor ware
do...
Medicine and toilet.
_._
do...
General purpose
-do...
Milk bottles
do...
Fruit jars and jelly glasses.
.do...
Stocks, end of month
do...
Other glassware, machine-made:
Tumblers:
Production
thous. of doz.
Shipments...
do...
Stocks
do...
Table, kitchen, and householdware, shipments
thous. of doz.
Plate glass, polished, production
thous. of sq. ft.
Window glass, production
thous. of boxes.
Percent of capacity
39
4,612
1984
60.6
1
GYPSUM AND PRODUCTS
Gypsum, production:
Crude
short tons..
Calcined
do
Gypsum products sold or used:
Uncalcined..
.-do—
Calcined:
For building uses:
Base-coat plasters
do
Keene's cement
do
All other building plasters
do
Lath
thous. of sq. ft.
Tile
.do...
Wallboard
do
Industrial plasters—
...short tons.
1,234,293
829, 206
1,213,817
754,911
1,119,863
658,053
855,028
546,388
399,192
384,730
388, 625
275, 250
252, 860
3,781
80,320
254,690
7,523
365,166
35,736
199,061
2,905
77,483
197,845
11, 577
404,896
36, 399
129, 468
2,258
61, 695
159,123
12,328
408,044
38,301
104, 262
1,959
61,310
115,407
3,161
320,946
36,252
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production
thous. of dozen pairs..
Shipments
do
Stocks, end of month
do
12,966
13,033
17, 631
12, 033
10, 990
21, 781
12,067
11, 251
22, 585
11,982
12,118
22,435
12, 335
12, 649
22,110
12, 650
13, 012
21, 736
11,711
12,059
21,369
12,178
12,441
21,100
12,186
12, 937
20, 350
12, 255
12, 975
19,630
913,038
.192
935,511
.196
915,479
.197
878,154
.197
.207
COTTON
Cotton (exclusive of linters):
Consumption...
bales.. 916,789 967,523 994, 552 925,089 966,149 972,490
.189
Prices received by farmers
dol. per lb_.
'.179
.180
.200
.186
.186
Prices, wholesale, middling 1^ieff, average,
.211
.189
.186
.187
.194
10 markets
...dol. per lb_.
.189
Production:
49
5,009
Ginnings (running bales)§.-thous. of bales..
738
9,726
Crop estimate, equivalent 500-lb. bales
thous. of bales..
Stocks, domestic cotton in the United States,
end of month :J
8,520
8,419
7,502
9,676
Warehouses
thous. of bales..
7,610
12, 624
2,159
1,711
2,342
1,848
Mills
do
2,155
2,006
Cotton linters:
115
97
127
122
122
Consumption
_
do
116
29
22
27
154
26
Production
do
221
729
490
505
Stocks, end of month
do....
653
588
577
'Revised.
i Partly estimated.
* Total ginnings of 1942 crop.
^Data are being compiled on a revised basis.
§Total ginnings to end of month indicated.
tFor revised figures for cotton stocks for August 1941-March 1942, see p. S-34 of the May 1943 Survey.
31,1942, including stocks on farms and in transit, was 10,505,000 bales; stocks of foreign cotton in the United
.193
.197
.204
11,539
11, 743
12,100
13, 587
2,330
13, 539
2,467
13,036
2,418
114
215
108
200
810
111
162
12, 340
2,443
120
893
The total stocks of American cotton in the United States on July
States on that date totaled 135,000 bales.
S-35
SURVEY OF CURRENT BUSINESS
August 1943
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the
June
1942 Supplement to the Survey
1942
June
July
August
September
1943
October
Novem- December
ber
January
February
March
20.05
.192
.090
19.60
.192
.090
19.62
.192
.090
19.69
.192
.090
0)
0)
0)
0)
April
May
TEXTILE PRODUCTS—Continued
COTTON MANUFACTURES
Cotton cloth:
Prices, wholesale:
Mill margins
cents per lb._
Denims, 28-inch
dol. per yd._
Print cloth, 64 x 60
do
Sheeting, unbleached, 4x 4
do
Finished cotton cloth, production: §
Bleached, plain
thous. of yd_.
Dyed, colors
„
do
Dyed, black
do
Printed
____do
Spindle activity: $
Active spindles
thousands..
Active spindle hours, total
mil. of hr_Average per spindle in place
hours. Operations
percent of capacity._
Cotton yarn, wholesale prices:
Southern, 22/1, cones, carded, white, for knitting (mill)t
dol. p e r l b . .
Southern, 40s, single, carded (mill)
do
RAYON
Consumption:
Yarn
mil. of lb_.
Staple
fiber
...do
Prices, wholesale:
Yarn, viscose, 150 denier, first quality, minimum
filament
dol. per lb._
Staple fiber, viscose, l}i denier
do
Stocks, producers', end of month:
Yarn
mil. oflb..
Staple
fiber
do
19.69
.192
.090
21.82
.196
.090
.108
21.27
.196
.090
.108
22.17
.193
.090
.108
189,214
150,832
5,730
55,732
178,185
149,159
5,121
60,073
22, 777
10, 702
457
129.7
192,091
147,654
5,196
61,287
«
23,095
11,295
471
133.7
23,110
11,484
479
130.2
22,974
10,981
458
136.4
22,956
11,191
468
134.9
23,012
11,429
478
136.9
22,948
10, 558
443
133.4
22, 887
10,734
450
127.9
22,890
10,820
455
138.8
22,859
10, 246
435
135.9
22,925
11, 647
495
134.4
22, 894
10,927
465
133.2
22, 788
10, 581
451
134.1
.414
.515
.421
.515
.421
.515
.421
.515
.420
.515
.414
.515
.414
.515
.414
.515
.414
.515
.414
.515
.414
.515
.414
.515
.414
.515
39.6
13.3
39.0
13.7
39.9
12.6
38.2
12.7
38.4
12.5
41.1
12.6
38.8
12.4
41.0
13.2
37.9
12.7
39.0
12.6
42.8
14.0
41.5
13.2
41.8
12.9
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
.550
.250
6.4
2.9
7.0
2.3
6.5
3.1
7.4
3.9
8.0
4.3
7.7
4.1
8.1
4.4
8.7
3.3
3.0
7.1
2.5
6.8
2.8
2.3
6.7
2.8
53, 510
4,280
45,896
3,236
45, 372
2,000
52, 305
3,045
45,100
3,240
44, 388
3,036
45, 504
3,168
56,160
2,665
49, 320
2,944
50,280
2,972
3,610
48, 796
2,400
78
2,853
70
2,744
70
2,657
65
2,703
75
2,650
71
2,711
68
2,676
63
2,813
67
2,809
70
r 2, 721
63
2,713
60
66
42
64
42
63
40
65
41
67
41
60
39
60
40
128,423 125,194 126, 337 124,120
118, 676 115, 344 114, 958 112,922
206
217
207
205
133,482
119,015
217
134,890
118,835
218
129,049
114,009
219
130,101
118,047
226
1.205
.535
1.205
.535
1.205
.535
1.205
.535
1.205
.538
0)
22.03
.192
.090
.108
21.85
.192
.090
.108
179, 363 182,176
157,074 167,390
5,472
5,503
65,606
70,935
21.47
.192
.090
.108
21.08
.192
.090
.108
20.32
.192
.090
0)
168, 349 182,841 175,919
143,165 145,133 140,098
5,295
4,608
5,860
63,144 84, 216 71,033
WOOL
Consumption (scoured basis) :^
Apparel class
thous. of lb._
Carpet class
do
Machinery activity (weekly average) :1
Looms:
Woolen and worsted: •
Broad
thous. of active hours-Narrow
do
Carpet and rug: •
Broad
do
Narrow
do
Spinning spindles:
Woolen
do
Worsted
do
Worsted combs
do
Prices, wholesale:
Raw, territory, fine,scoured dol. per lb__
Raw, Ohio and Penn.,
fleeces
do
Australian (Sydney), 64-70S, scoured, in bond
(Boston)
dol. per lb_.
Suiting, unfinished worsted, 13 oz. (at mill)
dol. per yd_.
Women's dress goods, French serge, 54" (at
mill)
dol. per yd..
Worsted yarn, ^2's, crossbred stock (Boston)
dol. perlb-.
Stocks, scoured basis, end of quarter:!
Total
thous. of lb..
Wool finer than 40s, total
do
Domestic
do
Foreign
do
Wool 40s and below and carpet
do
76
53
119, 375
115, 368
233
1.205
.543
72
66
40
45
127,143 125,473 121,812
122, 324 120, 250 112,150
243
237
217
71
59
1.195
.503
1.195
.496
1.195
.499
1.199
.527
1.205
.535
1.205
.535
1.205
.535
.765
.790
.790
.790
.790
.790
.790
.790
.765
.765
.765
.765
0)
0)
0)
0)
0)
(0
0)
(0
(0
0)
(0
0)
1.559
1.556
1.552
1.552
1.558
1.559
1.559
1.559
1.559
1.559
1.559
1.559
1.559
1.800
1.800
1.800
1.800
1.800
1.800
194,066
136,752
59, 332
77,420
57,314
1.800
1.800
1.800
351, 485
276, 295
141, 409
134, 886
75,189
1.800
335, 796
254,817
126,612
128, 205
80,979
1.800
1.800
1.800
265, 535
194,167
95, 790
98,377
71,368
.765
0)
MISCELLANEOUS PRODUCTS
Fur, sales by dealers
thous. of doL
Pyroxylin-coated textiles (cotton fabrics):
Orders, unfilled, end of mo__thous. linear yd...
Pyroxylin spread
thous. of lb_
Shipments, billed
thous. linear yd_
4,290
1,313
1,518
3,197
2,630
2,626
3,096
4,484
'6,918
' 6, 406 ' 8, 619 r 5, 970
4,725
10, 226
4,122
5,230
5,563
4,605
5,279
4,937
4,430
4,530
4,686
4,275
4,734
5,752
4,855
4,720
8,913
4,621
4,950
9,959
3,570
4,248
9,658
3,776
4,510
10, 212
3,747
4,283
10,036
3,217
4.260
9,231
3,731
4,686
9,761
3,893
4,618
3,767
4,632
TRANSPORTATION EQUIPMENT
AUTOMOBILES
Indexes of retail financing:
Passenger car financing, volume :f
41
21
39
40
42
32
20
17
36
Total
Jan. 1942=100..
58
59
26
53
36
New cars
do
28
11
11
13
30
39
55
57
54
45
26
16
23
41
42
Used cars
do
22
19
40
42
34
37
60
60
54
28
Retail automobile receivables outstanding,
20
27
22
18
16
86
44
31
end of month
Dec. 31, 1939=100-.
77
59
37
67
51
527
653
634
664
573
488
554
683
567
638
Automobile rims, production
thous. of rims..
633
547
586
' Revised.
1 No quotation.
JFor revised figures for all months of the cotton year 1941-42 see p. S-35 of the November 1942 Survey.
IData for June and September 1942 and January and April 1943 are for 5 weeks; other months, 4 weeks.
§Data to bring these series up to date are not available; moreover, recent figures shown may not accurately reflect production in the industry.
•A large portion of carpet and rug looms have been converted to the manufacture of blankets and cotton fabrics, principally the latter; data for these looms have been excluded beginning January 1942; they accounted for less than 2 percent of the total carpet and rug loom activity in that month and 70 percent of the total (broad, 61 percent;
narrow, 78 percent) in May 1943. Similarly, data for woolen and worsted looms operating entirely on cotton yarns have been excluded beginning July 1942; they accounted
for only 0.4 percent of the woolen and worsted loom activity in that month and 3.7 percent (broad, 3.2 percent: narrow, 20 percent), in May 1943. Revisions for woolen and
worsted looms for February 1942: Broad, 2,623; narrow, 95.
fRevised series. The yarn price series for Southern, 22/1 cones, has been substituted beginning 1941 for the Northern, mulespun, series formerly shown; for monthly 1941
data, see p. S-35 of the November 1942 issue (1941 monthly average, $0.355). Wool stocks are compiled on a revised basis beginning 1942 and cover all known stocks of wool in
commercial channels, including stocks in the hands of country dealers and in country warehouses; figures exclude stocks afloat which are no longer available for publication
For reference to approximately comparable 1941 data, except for exclusion of country dealer and warehouse stocks, see note marked "f" on p. S-35 of the May 1943 Survey.
The indexes of retail automobile financing shown above on a January 1942 base may be linked to the indexes on a 1939 base shown in the 1942 Su pplement by applying the current series to the January 1942 index on a 1939 base given in footnote 5 to p. 170 of the 1942 Supplement.
S-36
SURVEY OF CURRENT BUSINESS
Monthly statistics through December 1941, to- 1943
gether with explanatory notes and references
to the sources of the data, may be found in the
June
1942 Supplement to the Survey
August 1943
1942
June
July
August
September
1943
October
Novem- December
ber
January
February
March
April
May
TRANSPORTATION EQUIPMENT—Continued
RAILWAY EQUIPMENT
American Railway Car Institute:
Shipments:
Freight cars, total
number.
Domestic
do—
Passenger cars, total—
__.
..do
Domestic
do...
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..
Equipment manufacturers.__
-do
Railroad shops
do
Locomotives, steam, end of month:
Undergoing or awaiting classified repairs
number..
Percent of total on line
Orders, unfilled
number..
Equipment manufacturers
do
Railroad shops
do
U. S. Bureau of the Census:
Locomotives, railroad :§
Orders, unfilled, end of mo., total
do
Steam
_
.
do
Other
do.__.
Shipments, total
do
Steam
do
Other
do....
Locomotives, mining and industrial:!
Shipments (quarterly), total
do
Electric, total
do
For mining use
do
Other
do....
7,821
1,420
0
0
5, 253
2,851
23
23
2, 860
1,370
16
16
955
574
10
10
1,575
1,408
0
0
2,142
1,970
0
0
2,202
1,896
2,244
1,428
0
0
3,061
1,447
0
0
3, 365
1,321
3
0
5,584
1,469
0
0
8,045
1,641
6
0
8,003
1,034
0
0
1,740
1, 736
1,737
1,737
1,737
1,737
1, 739
1,739
1,740
1,741
1, 741
1,740
1,740
49
2.9
31, 744
27,011
4,733
57
3.3
37, 8P1
25, 062
12,829
55
3.2
35, 442
24, 974
10, 468
53
3.1
34,195
24, 626
9,569
46
2.7
35, 637
28, 352
7,285
42
2.4
29, 204
22, 419
6,785
45
2.6
27, 308
22,167
5,141
42
2.4
27, 061
20, 065
6,996
46
2.6
19,281
15, 069
4,212
45
2.6
19, 329
15,417
3,912
44
2.6
20, 712
17, 393
3,319
47
2.8
19, 397
16,162
3,235
48
2.8
33, 537
28, 227
5,310
2,051
5.2
506
391
115
2,747
7.0
350
304
46
6.8
334
284
50
2,593
6.6
323
256
67
2,381
6.1
314
238
76
2,143
5.5
289
216
73
2,098
5.4
356
13
1,932
4.9
355
263
92
1, 957
5.0
365
269
96
1,975
5.0
394
312
82
2,081
5.3
416
312
104
2,082
5.3
394
305
2,052
5.2
418
340
78
1,554
658
896
142
59
83
1,720
854
866
132
56
76
1,649
783
1,932
1,065
867
177
83
94
1,839
979
860
177
96
81
1,822
938
884
124
81
43
1, 967
1,139
828
146
63
83
2,043
1, 249
794
159
104
55
1, 973
1,221
752
219
155
64
2.296
1, 544
752
286
202
435
425
10
410
384
26
353
342
11
147
61
205
104
102
101
266
116
112
150
261
136
122
125
328
136
124
192
INDUSTRIAL ELECTRIC TRUCKS
AND TRACTORS
Shipments, total
Domestic.
Exports
__
.numberdo
do
400
391
360
343
17
382
344
38
438
415
23
420
418
2
367
352
15
411
380
31
285
280
5
342
309
33
CANADIAN STATISTICS
Physical volume of business, adjusted:
Combined indexf
1935-39-*100..
Industrial production, combined indexf
1935-39=100..
Construction t
do
Electric power
_ - do
Manufacturing!
do
Forestry!
do
Mining!
do
Distribution, combined index!
do
Tons carried•
do
Agricultural marketings, adjusted:!
Combined index
do
Grain
.....
do
Livestock
do
Commodity prices:
Cost of living.
do
Wholesale prices..
1926=100..
Employment (first of month, unadjusted):
Combined index
do
Construction and maintenance
do
Manufacturing
do
Mining
-do
Service
do
Trade
do
1 ransportation
_
do
Finance:
Bank debits
mil. of d o l . .
Commercial failures
number..
Life-insurance sales, new paid for ordinary
thous. of d o l . .
Railways:
Carloadings
_.thous. of cars..
Financial results:
Operating revenues
thous. of dol_.
O peratin g expenses
do
Operating income
do
Revenue freight carried 1 mile...mil. of tons
Passengers carried 1 mile
mil. of p a s s . .
Pfoduction:
Electric power, central stations
mil. of kw.-hr..
Pig iron
thous. of long t o n s . .
Steel insfots and castings
do
Wheat
flour
thous. of b b l . .
118.5
99.5
200.0
203.7
205.7
206.1
207.2
207.8
221.2
225.8
227.3
231.7
236.9
237. 8
222.1
157.1
146.6
235. 7
131.2
196.3
153.9
188.1
229.4
118.7
145.8
246.2
128.5
213.3
150. 5
176.2
232. 5
114.3
142.8
248. 8
120.7
216.6
150.4
163.0
235.1
127.8
140.0
253.3
116.2
225.8
145.8
127.1
238.6
97.8
138.5
262. 6
126.7
195. 7
142. 1
127. 9
239.3
106.9
137.3
263.4
116.7
192.0
142.7
142.0
250. 8
101.5
140.1
276.2
124.7
209.6
160. 6
175.9
254.6
95.0
142.5
279.0
105.6
225. 3
166. 3
158.6
267.8
140.7
141.8
290.8
120.7
236.1
143.3
183.2
269.1
90.8
146.5
294.1
124.4
250. 6
154.3
'202.3
274.4
83.7
153.0
296. 7
116.0
281.2
159.2
201. 6
276.7
91.3
161.2
297.9
118.5
285.0
157.2
190.8
82.8
113.8
237.7
270.9
93.4
99.6
98.8
102.9
43.6
33.9
85.7
106.6
112.9
78.9
95.4
90.4
117.0
141.7
146.4
121.2
133.5
149.8
62.8
110.3
113.3
97.2
108.8
108.4
110.7
224.9
256. 7
86.6
252. 7
290. 4
88.9
116.7
95.8
171.7
123. 3
205. 9
173.1
180. 6
153. 7
106.4
117.9
96.1
117.7
95.5
117.4
95.8
117.8
96.6
118.6
97.0
118.8
97.0
117.1
97.1
116.9
97.5
117.2
175.7
137.7
209.5
174.1
184.8
152.8
108. 1
177.8
146.8
212.4
172.3
189.4
152.5
110.4
179.3
146. 5
235.6
166.8
188.2
152. 3
110.0
181. 3
149.6
218.3
164. 3
185.1
153.5
111.7
183.3
154. 9
218.6
163.0
182. 6
156. 5
110.6
186. 5
151. 3
221.7
162.0
182.0
164.5
109.4
183.7
132.1
219.6
162. 4
180. 5
169.9
107. 8
181.2
125.7
222.1
161.4
179.7
149. 3
105.5
181.5
122.6
223.4
162.2
179. 9
147.1
107.1
180.5
118.8
224.1
160. 6
181.2
148.8
109.4
3,767
46
3,704
47
3,480
42
3,516
39
4,073
47
4,967
56
4, 195
36
3,900
25
3,'
4,012
35
4,071
50
5,424
7
52, 475
43, 898
44, 868
39, 963
55, 798
57, 795
52, 042
45, 576
40, 420
46, 730
51,104
49, 726
287
294
282
290
323
291
273
237
40, 420
247
118.1
99.2
280
55, 247
39,419
11,696
4,807
412
57, 529
42. 004
10, 582
4,705
511
58. 881
43, 371
10, 753
4,593
532
58, 590
42, 670
11,803
4,550
452
61, 281
43, 742
15, 424
5,171
404
56, 926
41, 885
11,509
5,077
385
63, 593
45, 750
13, 284
4,750
652
50, 679
41, 146
6, 190
4,063
411
53. 025
41, 721
7,239
4, 456
62,811
46, 658
11,098
5,083
481
65, 338
47, 389
12, 632
5,167
519
3,043
150
227
1, 335
2, 966
154
229
1,590
2,990
145
222
1,820
2,947
139
219
1,737
3,166
157
242
1,851
3,181
152
242
1, 973
3,249
147
241
2,063
3,218
104
185
1,963
2,951
123
219
1,991
3,329
143
242
2,193
3, 268
134
236
2,057
3,503
138
243
2,100
••Revised.
§Data discontinued by compiling source for the duration of the war.
!Revised series. The revision of the index of physical volume of business is due mainly to a change in the weighting and in the list of components, so as to present a picture
of the expansion in industries engaged in war production. Revised data were first shown on p. S-36 of the December 1942 Survey; subsequently the construction index was
further revised in the March 1943 Survey. The index of grain marketings is based on receipts at country elevators instead of receipts at head of Lake and Pacific ports, as
formerly. For revised monthly averages for 1941 see note marked " ! " on p. S-36 of the April 1943 Survey. Revisions for agricultural marketings beginning 1919 and for other
series beginning January 1940 are available on request.
*New series. The mdex of tons carried has been substituted for the index of carloadings, beginning in the January 1943 Survey; data beginning 1928 are available on request.
Components included in the distribution index other than tons carried are retail sales, wholesale sales, exports, and imports.
INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S36
CLASSIFICATION, BY SECTIONS
Month!v business statistics:
Business indexes
_ _ _ _ _ _
Conimodity prices
Construction and real estate
Domestic t r a d e _„
Employment conditions and wages.
Finance
,
_,_,
Foreign trade
Transportation and communications
Statistics on individual industries:
Chemicals and allied products..
Electric power and gas
Foodstuffs and tobacco
Leather and products
Lumber and manufactures„_
Metals and manufacture*:
Iron and steel
Nonfcrrous metals and products
Machinery and apparatus
Paper and printingPetroleum and coal products..
Stone, clay, and glass productsTextile products
Transportation equipment. „
Canadian statistics
.
Page
S I
S3
S~4
S-6
S~8
S 14
S-21
S-21
S-23
S-24
S-25
S-28
S-29
S-29
S-30
S 31
S--3I
S-32
S-34
S-34
S-35
S-36
CLASSIFICATION, BY INDIVIDUAL
SERIES
Pages marked S
Abrasive paper and cloth (coated)
34
Acceptances, bankers"
14
Advertising
_„__
6
Agriculture! income, marketings
1
Agricultural wages, loans
14, 15
Air mail and aii-line operations.
7,22
Aircraft
„
.
11,13
Alcohol, methyl
.
23
Alcoholic beverages
_.
1, 2, 25
Aluminum _..
.
30
Animal fats, greases
23
Anthracite
2, 3, 10, 11, 12,14,32
Apparel, weering
3,6,7,9, 10, 11, 12, 13,34,35
A s ph »It
33
Automobiles
1,2,6, 7,9, 11, 12, 13, 17,35
Banking
14, 15
Barley
26
Bearing metal
,_
30
Beef and veal
27
Beverages, alcoholic
1,2,25
Bituminous coal
2, 3, 10, 11, 12, 14,32,33
Boilers
_
30
Bonds-, issue?, prices, sales, yields.._
19, 20
Bcok publication
32
Brass, bronze, and copper products
30
Brick.
3,34
Brokers' loans
„_„_ 15, 19
Building contracts awarded
4,5
Building costs
5
Building expenditures (indexes)
4,5
Building-materials, prices, retail trade3, 7
B u 1.11 r
__
25
California, employment and pay rolls.._____ 10, 12
Canadian statistics.
.
17,36
Canal traffic._.
_„_
22
Candy
„
27
Capita!
flotations
.._„ 18,19
For productive uses
.__
._
19
Carloaciings
.
„„__.
„
.
22
Cattle and calves
_„
,_
26
Cement
,,__„
..
1, 2, 3, 34
Chair-store sale3
7, 8
Cheese
_
25
Chemicals
1, 2, 3, 9, I0, 11, 12, 13, 14, 16, 17, 23
Cigars and cigarettes
23
Civil-service employees..
.
10
Ciey pscducts
1, 2 , 9 , 11, 12, 13, 18,34
Clothing
3, 6, 7, 9, 10, 11, 12. 13, 34, 35
Coal
....__._.
2 , 3 , 10, 11, 12, 14,32,33
Coffee
.
27
Coke _ _ _
.
.
_ 2,33
Com m ercial fsi 1 ures.. _ .
__
16
Commercial paper
.
___.
14
Construction:
Construction estimates..
....
4,5
Contracts awarded
. _ „ _ .,'„_ _ _ „
4, 5
Costs_._.
5
Highways and grade crossings
.
,
5
Wage r a t e s .
.
.
14
Consumer ciecit
.___
15
Consumer expenditures,
,
7
Copper
....
30
Copra or coconut oil
...
23
Corn...
26
Cost-of-living index,
.
3,4
Cotton, raw, and manufactures
.
..
1,
2,3, 9, 10, 13,34,35
Cottonseed, ceke and messl, oil
___,
23
Crops
1, 23: 24, 25, 26, 27
Currency in circulation
._..
17
Dairy products
.
1,2,3,25
Debits, bank
.
.
15
Debt, United States Government
.__
18
Delaware, employment, pay rolls, wages. 10, 12, 14
Department
stores,
sales",
stocks,
collections.
8
Deposits, bank
„
15
http://fraser.stlouisfed.org/
Disputes, industrial......
.
11
Federal Reserve Bank of St. Louis
Pages marked S
Dividend payments and rates
1, 20
Earnings, weekly and hourly
13, 14
Eggs and chickens
1,3,27
Electrical equipment
___
2, 6, 31
Electric power production, sales, revenues. _ 24, 25
Employment, estimated
.
8
Employment indexes:
Factory, by cities and States
.
10
Factory, by industries
» 9, 10
Nonmanufacturing..
10
Employment, security operations
__„
11
Emigration and immigration
22
Engineering construction
5
Exchange rates, foreign
_.
17
Expenditures, United State* Government __
18
Explosives
„
23
Exports
.
21
Factory, employment, pay roils, hours, wages.
8,
9, 10, 11, 12,13, 14
Fairchild's retail price indnc
3, 23, 24
Farm wages
14
Farm piices, index
..
.
3, 4
Fats end oils
.
_
3
Fedf-ral Government,
finance
18
Federal Reaeive bank** condition of
15
Federal Reserve reporting member banfcs__
15
Fertili7er&
_ 3, 23
Fire losses
__„
_'
6
Fish oils, andfish....
_
_ . _ . 23,27
Flaxseed
23, 24
Flooring
29
Flcur. wheat
___
26
Food products.
1, 2, 3, 4,
6, 7, 9, 10, 11,12, 13, 14, 16, 17, 24, 25, 26, 27
Footwear
1,2,4,9,10,12,13,14,28
Foreclosures, real estate
6
Foundry equipment
31
Freight CP.TB (equipment)
.
36
Freight carloadings, cars, indexes
22
Freight-car surplus?
22
Fruits and vegetables
__ 3,25
Fuel equipment and heating spparatug__..__
31
Fuels .
2,3,32,33
Furniture
1 , 4 , 9 , 1 1 , 12,13,29,30
Gas, customer?, salee, revenues
- 24, 25
Gaa ana fuel oils
.
33
Gasoline
. _ _.
33
Gelatin, edible
27
Glass and glassware
1,2,9, 11, 12, 13, 16,34
Gloves and mittens
.
.
;8
Gold
17
Goods in warehouses
___.
6
Grains
3, 19, 26
Gypsum
,
._
34
Hides and skins
. _ _ 4, 28
Highways, and grade crossings, Federal aid_
5
Hogs
____.__ — .
27
Home-loan banks, loans outstanding
.. _
6
Home mortgages
.
6
Hosi ery
.
.
4,34
Hotels
_ _ . _ 10, 12, 22
Hours per week
11
I ~usc arm hin^s
_
_
__ _
__ 3, 4 b 7
Ho « ng
__ _
3 4
Illinois emplcvn er t, pov rolls, wagcs__ l'« 1 *>, 14
Xrnn ig's* on pud e, 'graven
_
2n
IIro ports
21
Ircorre pa\
rh
1
_
In' CITK >* rt-cvi J<s
18
I n ' o - t crt ti A , t U*T""V*>S rscv _ __
17
Inau* tr r> ] ofiuC'i' ir dexea
1,2
8
Inst ill. tnt "sale^, d**r utnent stores
I r s i r a r c e h*e .
_
2 6, 17
Ii tertf o •» 3 n o r ( v I t e s
15
I m CTH.C i- , x IP^* ^t if is tvd trat.c
2 n,
lion oi d a^el cTu , n j»ruf riif-s
°t 4 <
)
o i l , \3t 15 17, 2^
K
rj«
.-
_
13
T.abf* toce
L^I r t m « i , d^i -tet.
Lpr b Vi 1 n ? i*on
La '*
_
S
11
27
*/
30
H I-t 15 28
2\
Le-th r
] 2 4 Q l,1J,l?
Li i°et- * ol» _
,
I. v i s t s.
L o e •»«. r ' p<;1
p p . cplti r r l }«->i\ ^Kr
( ct c»«,o C c t unifi v.w )
_ 5,
T
* cor !ve"
Loo ) i we ^
re* * *y
Lu- h i
M <. <
^ . ^ r
Mnch
l'if>t7
IVidnufi
tO'i-3
_*'riiuf-_v"jr\ipr
Wt s^ff I
I 2 3, t, 11, 1? 13
* i( a i« vr, rci or, wro1
*'^.
11
i
1 ? 0, U,ls
\o, 16
e nc* trfi-»inr
;
ufvif
o Jt i
<! l r r r c n ' *
nven
_
t'inn<, prr^uutiun ir 'e^*
employ*! rn*, r a »i 1
_tc^tt<? om \ovt^tnt x i roll" \ >*
f &*J h n 1 -
i i i <-
f cih
___
Mcthi . 1
+ W\
__
^ x er_.:»-v<,«^-e*
_
Nc T/sj oper
Never'tnt
« g
16, 2t|
^b
H 31
17, >3
(
*» 3
1 1
10,1°
1J ,
12 14
1, '
\9 10 1 ? , H , U 2"
1,2,4,9, P , 12 H, 1/ 23
2
25
2 10T 12 I J'
2
on
Pages marked S
New York, employment, pay rollt, wages.. 10k 12,14
New York canal traffic
._
22
New York Stock Exchange
_ - 19,20
Oats
._
26
Ohio, employment, pay rolls
. — , . - 10, 12
Oils and fats
3,23, 24
Oleomargarine
.
.-24
Orders, new, manufacturers'
_2
Paint and paint materials
3,24
Paper and pulp. ..2,4, 9, 10,11, 12, 13, 14,16,31,3$
Passports issued
-22
Pay rolls:
Factory, by cities and States
12
Factory, by industries
11,12
Nonmanufacturing industries
12
Pennsylvania, employment, pay rolls, wages.
10,
12,14
Petroleum and products
2,
3,9,10,11,12,13,14,17,33
Pig iron
30
Porcelain engmded products
30
Pork
_
27
Postal business
,
7
Postal savings
.
15
Poultry and eggs
1,3, 27
Prices (see also individual commodities):
Retail indexes
3
Wholesale indexes
3,4
Printing
2, 9, 10,11,12,13,14,16, 32
Profits, corporation
',
17
Public relief
_
14
Public utilities
4, 10, 11, 12,14, 17,19, 20
Pullman Co
22
Pumps
31
Purchasing power of the dollar
.
4
Radio-advertising
.
6
Railways, operations, equipment, financial
statistics, employment, wages
10,
11,12, 14, 16, 17, 18, 19, 20, 21, 22,36
Railways, street (see Street railways, etc.).
Rayon.
2,4,9,10,12,13,35
Receipts, U. S. Government
18
Reconstruction Finance Corporation, loans.
18
Rents (housing), index
3
Retail trade:
All retail stores, sales
„
__7
Chain stores
* 7, 8
Department stores
.
8
Mail order
.
8
Rural, general merchandise
^
8
Rice
_
26
River traffic
22
Roofing, asphalt
~_
33
Rubber products
2, 4, 9, 10, 11,12,13,14
Savings deposits
15
Sheep end lambs
27
Shipbuilding
11,13.
Shipments, manufactures
2
Shoes. . . .
1,2,4,9,10,12,13,14,28
Shor tenings
24
Silver
_
17
Skins
.
„
28
;Mr-ug* te'-rq and meat packing
»
1
2,9,10,12, 13, 14,27
St vbertK and soybean oil
24
Si'-» r e *Jcti/Tt> co+ton, wool
35
St-re1 pi \ ircn (°ec lion and steel).
F* el scrap
_
29
MkbUl
21
r~ k, rVj ar«.nf n -icre (see also manufaces)
8
, i«si-s ' ^e* pales, yields... 18,19,20,21
ch >, and a.ss products
1,
2,9,11,12,13,16,34
1 hu»«5es
10,11,12,14
27
S-In
23
, fsthc»e
23
T*»l r here, teiegrsph, cable, end radio-teieKI ^h carnen
. _ _ . - . 10,11,12 14,17,22
To Lle^
. . . 2,4,9,10,11,12,13,16,34,35
^'V
_
_
„
__._
34
fi
__30
__ I..I__IIII...I
23
^ uY c o
_. 2, 9, 10, 11, 12, 13, 14, 28
Tro« -iac> i >e
11,13,31
T p ] ret n , nd wholesale...3, 7, 8, 10, 11, 12, 14, 16
T ' f M i t i r * V-^l
„
21
Trs^«i < i* **'G i, fomr^odity and passenger.. 21, 22
V" v* o option cqu pment
1>
2,9,11,12,13,16,35,36
""rev 1
.
22
Tr JC* a <1 t«rcwors, industrial, electric
36
T ne }i} v>v i*"
- .
8
ei^-nint bonds
19,20
U nf_a S t i u
T
er linent,
finance
18
m f i S* a c
21,30
1 Co-poration
Ci
Un'*f
Carie
^,10,11,12,14,16,17,19,20
Li » ime\
.
7,8
V - i_u r n e
„_
23
n'
3, 25
rs^ m'ocdlaneoua . ..„_ 13,14
expenditures
18*
'
18
6
occupied
p
a
y
j'jo* , employment,
10,12
22
1
I COL C I I *1?c t f >iU
,
26
V li -sk
n c mdc es
3
,4
3,4
"> tc r r s l j
mt i y* nent, pay rolls, wages. 10,12,2 14
14
f
< <
>
-
4,31
\v -J arc woe 5 manufactures.- 2, 4, 9, 10, 12,13, 35
?-nr..
30
Domestic Commerce
written for
BUSINESSMEN..
© Here is an authoritative monthly periodical written
in the language of the American businessman. It is one
of the principal organs of the Department of Commerce
for disseminating information deemed of importance in
maintaining a vigorous and dynamic free enterprise system.
® Domestic Commerce gives the reader an understanding
of the progress and changing conditions of industry and
business of the United States. Its writers are officials of
this and other Government agencies, and specialists in the
various subjects covered.
© Particular attention is given to developments in the field
of post-war planning.
I
A sample copy will be sent you upon request to the Bureau
of Foreign and Domestic Commerce, Washington, D. C.
1
\
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